Business

NBK holds AGM, OKs 30 fils cash dividend – 2015 saw remarkable growth for bank: Al Sayer

KUWAIT CITY, March 19: National Bank of Kuwait (NBK) held its annual General Assembly meeting on 19th March at the bank’s headquarters. NBK reported net profits of KD 282.2 million ($929.7 million) for the year 2015 compared with KD 261.8 million ($862.6 million) in 2014, growing 7.8% year-on-year. As at …

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Al-Dawli wins Commerzbank’s Award for 2015 – A new triumph that proves KIB’s leading position in industry

KUWAIT CITY, March 19: Once again, Kuwait International Bank affirms its leading position in the Islamic banking industry by winning the Commerzbank’s Quality Award for the year 2015 in recognition of its outstanding performance in Straight Through Processing (STP) payments and efficiency in processing international transfers in Euro. Mohamed Said …

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Kuwait bourse closes trading in red during week – Volume decreases by 23.42% to average 152.14 million shares

Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 5,262.07 points, down by 0.43% from the week before closing, the Weighted Index decreased by 1.13% after closing at 363.39 points, whereas the KSX-15 Index closed at 857.74 points down by 1.60%. Furthermore, last …

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Time to act as deficit soars and oil revenues decrease – Kuwait urged to implement reforms

  “IT is time to act because the deficit is increasing due to decreasing oil revenues” — This is the message or rather the warning from the biggest financial body to our Kuwaiti government. Kuwait has been advised to bring order to its financial house; otherwise its ratings will be …

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KSE indices witness losses as crude oil charts mixed course – Market capitalization drops by 1.1 pct to KD 24.96 billion

KUWAIT CITY, March 18: The KSE indices all witnessed losses, however oil has seen a mixed week with oil producers announcing to meet in order to discuss oil freezing proposal.  Moreover, the market closed at 5,262.07 down by 0.43%. The MUDX Islamic Index was also down by 0.85% to close …

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Google gives federal plan for self-driving car – US unveils emergency braking deal with automakers

LOS ANGELES, March 18, (Agencies): Google wants Congress to create new federal powers that would let the tech giant receive special, expedited permission to bring to market a self-driving car that has no steering wheel or pedals. The proposal, laid out in a letter to top federal transportation officials, reveals …

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Global stocks on best run in two years as dollar steadies – Oil hits 2016 high on output freeze hope

NEW YORK, March 18, (Agencies): World equity markets were poised for a fifth week of gains on Friday, their best run in more than two years, as a 2016 high for oil, the dollar’s recent decline and a more optimistic view of the economy combined to boost investor confidence. Stocks …

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Where has the oil gone? – Missing barrels and global crude market ‘rebalancing’

LONDON, March 18, (RTRS): Global oil production exceeded consumption by just over 1 billion barrels in 2014/15, according to the International Energy Agency (IEA). Production exceeded consumption by an average of 0.9 million barrels per day in 2014 and 2.0 million bpd in 2015. Of the 1 billion barrels reportedly …

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S&P affirms NBK ratings, outlook stable – Lender plans to sell part of KD 600 mln loan

KUWAIT CITY, March 17, (Agencies): Standard & Poor’s, the international credit rating agency, affirmed the long-term credit ratings of National Bank of Kuwait (NBK) at A+. All the bank’s ratings carry a stable outlook. “Our outlook on NBK is stable, reflecting our belief that its overall business and financial profile …

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Al-Tijaria to organize 4th Eshraqat Amal – Event to widen awareness about children with special needs

KUWAIT CITY, March 17: The Commercial Real Estate Co. (Al-Tijaria) shows its support to Kuwait’s special needs as part of its ongoing Corporate Social Responsibility (CSR) programme. For the fourth consecutive year Al-Tijaria announces its ever-popular Eshraqat Amal event that will be held under the patronage of Sheikha Sheikha Al-Abdullah …

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