Tuesday , October 17 2017

Business

KSE measure slips amid profit taking – Americana gains 40 fils; Zain falls

KUWAIT CITY, Oct 26: Kuwait stocks eased slightly on Monday snapping the two-day advance. The bourse fell 3.9 pts in lackluster trade to 5,804.05 points weighed by profit taking in select mid and small caps. Some of the banks shone even as investors digested the latest quarterly earnings. The KSX …

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Zain Group logs KD 855 mln revenues in 9 months – Consolidated net income reaches KD 118 million

KUWAIT CITY, Oct 25:  Zain Group, a leading mobile telecom innovator in eight markets across the Middle East and Africa, announces its consolidated financial results for the nine-month and third-quarter period ended 30 September 2015. Zain Group serves 45.6 million customers as of 30 September 2015, a 4% increase when compared …

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Gold drops 1st time since early October – Sabayik Co – Yellow metal’s price affected by dollar strength

KUWAIT CITY, Oct 25, (KUNA): The gold price posted first loss since start of October on Friday dropping by one percent and closing at $1,164 per ounce, according to Sabayik Al-Kuwait Company. The yellow metal’s price was affected by the USD strength against other hard currencies, namely the euro, where …

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Al Ahli Bank records net profit of KD 29.2m – Customer-focused approach is bearing fruit: chairman

KUWAIT CITY, Oct 25: Al Ahli Bank of Kuwait (ABK) today announced a net profit of KD 29.2 million for the first nine months of 2015, a 7 percent increase from KD 27.3million over the corresponding period in 2014. Net operating income also saw a substantial 8 percent jump, rising …

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Kuwait index climbs 27.19 pts; volume up – NBK gains 10 fils; Ooredoo drops

KUWAIT CITY, Oct 25: Kuwait stocks headed north on Sunday after clocking modest gains in the previous week. The bourse climbed 27.19 points in a largely flat trading to 5,807.95 pts led by some of the mid and small caps. Banking majors too shone on renewed buying. The KSX 15 …

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Weak oil and strong dollar – a puzzling relationship – Widely used currency versus widely traded commodity in world

The relationship between oil price and dollar value is intriguing not only to the US and the oil-exporters, but to researchers and governments all over the world. Most commodities, including oil tend to be negatively correlated with the US dollar as most commodities are traded in dollar. The magnitude of …

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Facebook hits all-time high amid tech euphoria

SAN FRANCISCO, Oct 24, (AFP): Facebook shares lifted Friday to an all-time high, crossing $100 for the first time, during a rally in the technology sector on Wall Street. Shares in Facebook rallied 2.5 percent to close at a record $102.19, to give the world’s biggest social network a market …

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ALAFCO records KD 16 mln net profit – Shareholders’ equity up 11% and EPS clocks 19.6 fils 

KUWAIT CITY, Oct 24: The Vice Chairman of the Board and Chief Executive Officer of Alafco Aviation Lease And Finance Company (ALAFCO), Ahmad A. Alzabin, announced that the company earned a net profit of KD 16 million for the fiscal year ended Sept 30, 2015. This translates into Earnings Per …

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Kuwait awards $30bn projects by end of Q3 – New Al-Zour refinery expected to be completed in 45 months

KUWAIT CITY, Oct 24: The total value of projects awarded in Kuwait in 2015 climbed to KD 9 billion ($30 billion) by the end of the third quarter. Kuwait’s project market, which has lagged behind other GCC countries in the past, is second only to Saudi Arabia in terms of …

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