Business

KSE winds up week with 32.16 pts gain – Ooredoo jumps 60 fils; KIPCO flat

KUWAIT CITY, March 17: Kuwait stocks swung higher on Thursday to end the week on a strong note. The bourse, after meandering listlessly for most part of the session, closed 32.16 points higher at 5,262.07 points helped by renewed buying in select counters. The banking shares were mostly muted whereas …

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Oil ‘price’ rise might be wrong, but not irrational – Market expects less oversupply

The oil futures curve is flattening as a wave of bullishness washing across the market raises the price of near-dated contracts faster than that of contracts for deferred delivery. Brent for delivery in May 2016 has risen more than $10 per barrel since early February, while prices for delivery in …

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Crude prices continue to rise during Feb

Oil prices continued to rise during Feb 16, recording the highest monthly jump in almost nine months after four OPEC and non-OPEC producers agreed to stabilize the oil market by freezing output. The oil price trend during the first two weeks of March-16 was even stronger signaling a bottoming of …

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Agility eyes opportunities from Kuwait privatisation – Company targets entering Iran market, challenges remain in Egypt

KUWAIT CITY, March 16: Kuwait’s Agility, the Gulf’s largest logistics company, will be interested in bidding for the management of Kuwait’s airport and ports if plans to privatise them go ahead, the chief executive Tarek Sultan said on Wednesday. Kuwait’s Finance Minister Anas Al-Saleh said on Monday that the government …

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Moody’s revises outlook on Saudi Arabia banking system to negative – Persistently low oil prices, spending cuts weigh on sector

DUBAI, March 16: Moody’s Investors Service has changed its outlook for the Saudi Arabian banking system to negative from stable, according to its latest outlook research report, published today. The outlook reflects the rating agency’s expectation that the persistently low oil prices and resultant government spending declines will ultimately weigh …

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Kuwait stocks retreat amid ‘sluggish’ trade – Americana sheds 20 fils; Zain flat

  KUWAIT CITY, March 16: Kuwait stocks pulled lower on Wednesday, as it extends its volatile course. The bourse dropped 13.88 points in lackluster trade to 5,228.91 points amid moderate selling in select counters. The trading board was mixed even as eye investors fresh cues. The KSX 15 benchmark slipped …

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Al Habtoor awards top talent at Employee Excellence Awards – Chairman presents total of 24 awards to commend high performers across Group

DUBAI, UAE, March 15: The Chairman of the Al Habtoor Group, Khalaf Ahmad Al Habtoor, recognized top talent at the Al Habtoor Group of companies today at the Al Habtoor Groups annual Employee Excellence Awards. The event took place at the Habtoor Beach Resort & Spa, Autograph Collection on Monday …

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Kuwait index edges higher; volume dips – NBK slips 10 fils, Mabanee Co flat

KUWAIT CITY, March 15: Kuwait stocks nudged higher on Sunday after falling sharply in the last session. The main index rose 3.6 points in choppy trade to 5,243.79 points with a mixed board even as oil prices extended its losses. The KSX 15 gauge climbed 6.4 pts to 851 points …

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Financing needs for GCC at $151.3bn in 2016 – Bonds expected to cover 38% of it: Raghu

KUWAIT CITY, March 15: Kuwait Financial Centre “Markaz” recently held a presentation on “Forecasting Sovereign Debt Issuances in GCC” in collaboration with Kuwait Banking Association (KBA). The presentation was delivered by Raghu, Head of Research at Markaz and Managing Director of Marmore MENA Intel-ligence, a research subsidiary of Markaz providing …

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KNPC close to $3 billion loan to part-fund refineries revamp

DUBAI, March 15, (RTRS): Kuwait National Petroleum Company (KNPC) expects to close the first phase of funding for its multi-billion-dollar Clean Fuels Project with local banks as soon as the first week of April, the state oil refiner told Kuwait News Agency on Tuesday. Part of the country’s KD 30 …

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