Wednesday , December 13 2017

Business

Zain Kuwait tests region’s first 4.5G mobile broadband technology – Operator teams up with Huawei to bring greater speed, innovative services to Kuwait

KUWAIT CITY, Dec 27: Zain, the leading telecommunications company in Kuwait, announced the successful testing of the Middle East’s first 4.5G mobile broadband technology on its advanced network. The test, achieved in strategic partnership with Huawei, saw the operator’s network reaching high-speeds of 1 gigabyte per second (1 Gbps). Serving …

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KSE advances 27.18 pts in ‘lackluster’ trading – Zain adds 5 fils; KFH drops

KUWAIT CITY, Dec 27: Kuwait stocks swung higher on Sunday following the drop in the last session. The price index rose 27.18 pts in lackluster trading to 5647.16 points helped by moderate buying in some of the mid and small caps. The market mood remained dull even as investors eye …

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EY hosts seminar on regulatory changes – Focus on ‘Family Owned Businesses’

KUWAIT CITY, Dec 27: EY hosted a seminar on the ‘Family Owned Businesses and recent developments affecting Kuwait based enterprises at the JW Marriott Hotel, in Kuwait City. Over 80 senior executives representing regional and international  in Kuwait attended the conference. The conference featured discussions on how Kuwait is coping …

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Dubai to raise 2016 spending by 12 pct on balanced budget – Revenue seen up

DUBAI, Dec 27, (RTRS): Dubai plans to raise state spending by 12 percent in 2016 as it invests in infrastructure to sustain economic growth, but an equal rise in revenues will allow the emirate to balance its budget, the government said on Sunday. The ruler of Dubai, Sheikh Mohammed bin …

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Al Muzaini opens 65th branch in Shuwaikh

Kuwait’s leaders in money exchange and remittances for over 70 years have opened their newest branch in Shuwaikh at the Zeena Complex. The branch is open to serve customer’s all week from 9:00 am to 9:00 pm from Saturday to Thursday and 4:00 pm to 8:30 pm on Fridays. With …

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Non-oil growth pegged at 4-5% in 2016 & 2017 – Government’s capital spending plans to remain on track

KUWAIT CITY, Dec 26: Economic activity is expected to improve in 2016 and 2017, boosted by an increase in public investment and steady growth in consumption. This is happening despite the large decline in oil prices seen since the middle of 2014, and which has put some pressure on the …

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AUB named among 50 most Secure international banks – Lender ranked 2nd locally, 5th regionally

KUWAIT CITY, Dec 26: Ahli United Bank has embodied its leading role in the Islamic banking field both locally and regionally obtaining the second position locally and fifth in the GCC in 2015 on the “Global Finance” list of the most secure 50 international banks. This evaluation is based on …

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Time for economic reform in Kuwait as oil prices collapse – Cut subsidies and hike fuel and electricity

TODAY, the selling price of Kuwait’s crude oil is $28 a barrel. This is 17 percent less than $45 – the price stated in our budget for this fiscal year. It means loss of  $42.5 million per day, $1.2 billion per month or $14 billion per annum which is equivalent …

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Markets subdued amid declining oil prices

The KSE indices remained flat as investors witnessed a further decline in crude oil prices as the Brent Crude closed at $36.21 which nearing a 7 year low. Also; the markets are expecting the Saudi Budget early next week for further course of action. After an initial decline the indices …

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