Tuesday , February 20 2018

Business

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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Japanese inflation ticks up in November, but spending weak – Glimmer of hope for Tokyo’s bid to conquer deflation

TOKYO, Dec 25, (AFP): Japan’s inflation rate ticked up in November, posting the first gain in five months, official data showed Friday, but still-weak household spending weighed on the world’s number three economy. The tepid figure — a 0.1 percent gain in core inflation excluding volatile fresh food prices — …

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‘No impact of lifting ban of US oil export’ – After 40 years

KUWAIT CITY, Dec 25, (KUNA): The decision to lift the ban on exports of US crude oil, signed by President Barack Obama on Friday, will not have an immediate impact on the world oil market, said a Kuwaiti academic on Monday. The Gulf Cooperation Council countries (GCC) decision to continue …

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Tokyo investors eye Japan and US data in last trading of 2015 – China stocks up slightly in thin Christmas trading

TOKYO, Dec 25, (Agencies): Japanese factory output and US consumer confidence are among the few trading cues in the last trading week of the year, with Tokyo’s Nikkei 225 on track to be one of the best-performing major stock indices globally. The Japanese market is open from Monday through Wednesday …

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EQUATE acquires MEGlobal for $3.2 bln – Deal transforms co into a global leader in petchem sector

KUWAIT CITY, Dec 24, (KUNA): The Petrochemical Industries Company (PIC) and the Dow Chemical Company (Dow) have agreed that EQUATE will get acquisition of 100 percent MEGlobal shares for USD 3.2 billion, the PIC said in an exclusive press release to KUNA. PIC will continue to retain its 42.5 percent …

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Iran finmin says prepared for crude oil prices as low as $30

DUBAI, Dec 24, (RTRS): Iran’s Finance Minister Ali Tayyebnia said on Tuesday that Tehran was prepared to deal with the economic impact of oil prices even as low as $30 per barrel, as Brent oil’s fall to an 11-year low of just above $36 a barrel. Iran has repeatedly blamed …

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US jobless claims near 42-yr low as labor market tightens – Mortgage rate slips

WASHINGTON, Dec 24, (Agencies): The number of Americans filing for unemployment benefits fell more than expected last week, nearing a 42-year low as labor market conditions continued to tighten in a boost to the economy. Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 267,000 for the …

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