Wednesday , March 21 2018


S&P affirms Kuwait ratings at ‘AA/A-1+’ – Outlook stable

LONDON, Feb 13: Standard & Poor’s Ratings Services affirmed its ‘AA/A-1+’ long- and short-term foreign and local currency sovereign credit ratings on Kuwait. The outlook is stable. In mid-January 2016, Standard & Poor’s materially lowered its oil price assumptions for the period 2016-2019. Prices for crude oil in spot and …

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Oil prices recover sharply after a ‘turbulent’ week – UAE offers talks on output cuts: report

NEW YORK, Feb 13, (AFP): Oil prices soared Friday, with US crude rebounding from a 2003 low, on reports that OPEC was willing to organize output cuts that could ease the global oversupply. US benchmark West Texas Intermediate for March delivery shot up $3.23 (12.3 percent) to $29.44 a barrel …

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KSE indices close in negative – Sentiment roiled by sliding global equities, drop in oil prices

KUWAIT CITY, Feb 12: The KSE indices all witnessed a close in negative amid worries of sliding global equities and decline in oil price. Equities across the Middle East witnessed free fall in response to slipping oil prices; further; the Brent crude has been moving downwards after a marginal increase …

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India inflation notches up to 5.7% in Jan – RBI chief says lenders need ‘deep surgery’

NEW DELHI, Feb 12, (AFP): India’s consumer price inflation quickened slightly to 5.7 percent in January, official data showed Friday, presenting a potential headache for Prime Minister Narendra Modi ahead of the national budget due later this month. The acceleration from a 5.6 percent rise in December marks the sixth …

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Kuwaiti oil down 80 cents

The price of Kuwaiti oil went down 80 cents Thursday to settle at $22.70 per barrel after being at $23.50 the day before, said Kuwait Petroleum Corporation (KPC) Friday. At the global level, the price of oil went up by five percent after news began to circulate on OPEC’s intention …

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‘Kuwait’s financial situation is stable, won’t be affected by wars in the region’ – MoE approves bonus for exam controllers

KUWAIT CITY, Feb 11: A number of economy analysts affirmed that Kuwait’s financial situation is stable and will not be affected by the political situation and wars in the region because of its strong economy and its vast investments, which will ensure the country is in a secure position, reports …

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‘EQUATE achieves $739 million total profit in 2015 fiscal year’

KUWAIT CITY, Feb 12: EQUATE Petrochemical Company, Kuwait’s first international joint-venture in this industry, announced realizing a net profi t of $739 million for the fiscal year ending 31 Dec 2015, in comparison to $1.04 billion achieved in 2014. EQUATE President & CEO Mohammad Husain said, “EQUATE’s human capital exemplified …

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ECB to decide on fate of 500-euro banknotes – Argument in favour of keeping it less convincing

BERLIN, Feb 11, (AFP): The European Central Bank will take a decision soon on whether to keep printing 500-euro banknotes, with the arguments for doing so becoming “less and less convincing”, a top-ranking official said Thursday. “We’re actively considering the question and will take a decision shortly,” executive board member …

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Total cuts investment amid oil price collapse

PARIS, Feb 11, (AFP): French oil company Total said Thursday it had cut its investment target this year as it steps up efforts to drastically cut costs to counter a global collapse in oil prices. Total said it would invest up to two billion dollars less in 2016 than originally …

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