Business

Kuwait index ends little changed; volume thins – Ooredoo dives 80 fils; Mabanee Co gains

KUWAIT CITY, May 8: Kuwait stocks got off to a tame start as the main index closed little changed on Sunday. The bourse gave up early gains to close 2.49 points lower at 5,370.68 pts even as investors toed the sidelines in absence of fresh cues. The KSX 15 measure …

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Banks remain relatively resilient, outlook positive – Regional banking sector enters a new paradigm

KUWAIT CITY, May 8: KPMG has released its first GCC listed bank results report, analyzing the published financial statements of 56 leading listed commercial banks across Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates. The report covers over 90 percent of the region’s listed banking assets, and indicates …

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KFH wins prestigious MasterCard award – Award recognizes bank’s efforts in promoting payment cards usage

KUWAIT CITY, May 7: Kuwait Finance House (KFH) has won the “International Volume Growth Cross Border 2015” award from MasterCard for demonstrating outstanding performance in promoting innovative electronic payment solutions. This is in continuation of an award received last year from MasterCard for “Outstanding Performance”. The award was presented to …

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KIB named ‘Best Islamic Bank in Kuwait’ – Al-Dawli honored by World Finance for third year in a row

KUWAIT CITY, May 7: Kuwait International Bank (KIB) adds a new achievement to its track record after receiving the “Best Islamic Bank in Kuwait” for 2016 Award from World Finance for the third consecutive year. KIB was rightfully awarded by the specialized and most reputed financial magazine in the London …

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Kuwait oil at $40 a barrel … what’s next for the economy? – Time running out of govt to ‘improvise’

Last week, the price of Kuwait’s export crude oil reached $40 per barrel in Mina Ahmadi for the first time after the Brent crude oil reached its highest level of $47 more than a year ago. Oil prices are going to stabilize and hit the $50 level hopefully by the …

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Kuwait indices post weekly losses – Market capitalization reaches KD 23.6i bln, down 0.98%

Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 5,373.17 points, down by 0.35% from the week before closing, the Weighted Index decreased by 1% after closing at 362.61 points, whereas the KSX-15 Index closed at 853.35 points down by 1.16%. Furthermore, last …

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Greeks strike as new tax, pension reforms loom – Policy reforms required to meet bailout terms

ATHENS, May 6, (RTRS): Greeks went on a 48-hour nationwide strike on Friday to protest against tax and pension reforms, as Prime Minister Alexis Tsipras appealed to fractious lawmakers to approve the overhaul as part of a multi-billion euro bailout. Lowering its annual pension bill, one of the most expensive …

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KSE price index posts weekly decline – Market capitalization drops 1 pct to KD 24.87 billion

KUWAIT CITY, May 6: This has not been a positive week for the indices. As KSE price index closed down 0.35 percent, 5,373.17 down 18.64 points compared to the week before. As for the MUDX it also decreased 1.10 percent to close at 523.87 for the week down 5.85 points. …

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Saudi oil stance deepens OPEC split – Frustrated delegate declares OPEC ‘dead’

LONDON/DUBAI, May 6, (RTRS): As OPEC officials gathered this week to formulate a long-term strategy, few in the room expected the discussions would end without a clash. But even the most jaded delegates got more than they had bargained with. “OPEC is dead,” declared one frustrated official, according to two …

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Kuwait oil up

Kuwait oil price went up 61 cents on Thursday, reaching USD 39.46 per barrel (pb) against USD 38.85 pb last Wednesday, Kuwait Petroleum Corporation (KPC) said Friday. In international markets, oil prices also jumped associated with investors’ worries over shortage of supplies on the short term following Canada wildfires in …

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