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Monday , December 10 2018


Expert says oil ‘prices’ won’t top $100 a barrel – ‘Worst of the collapse is over’

NEW YORK, May 22, (AP): Following a stunning decline, oil prices have clawed back near the $50 level this year. Production boomed in the US but is now slumping. Globally, OPEC is in disarray and major producers can’t agree on steps to boost prices. Following a stunning decline, oil prices …

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Kuwait index retreats slightly as volume dips – Wataniya Telecom slides 40 fils; KFH gains

KUWAIT CITY, May 22: Kuwait stocks sagged on Sunday extending the previous week’s downtrend. The bourse pared back steeper early losses to close 7.02 pts down at 5,317.03 points. The banks remained mostly muted while rest of the board closed mixed. The KSX 15 benchmark eased 1.07 points to 829.84 …

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First Bahrain holds its AGM – Company posts $1.1 mn net profit for 2015

KUWAIT CITY, May 22: First Bahrain Real Estate Development Company today held its Annual General Meeting (AGM) for the year ended Dec 31, 2015, in which the company announced a net profit of $1.1 million for the year, representing 56% growth over the prior year. During the meeting, Waleed Alkhaja, …

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G7 warns over global economy as currency policy row flares – Japan fails to gain consent for joint fiscal action

SENDAI, Japan, May 21, (AFP): G7 finance ministers on Saturday voiced concern about the sputtering global economy as they looked for a plan to stoke growth, while a currency policy clash overshadowed their meetings. The club of rich nations also pledged to tackle tax avoidance in the wake of the …

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Oil prices hardening, could rise to $60 before year-end – Shale oil: The balancing factor

The fact that oil prices are hovering around $50 per barrel because of reduced production rate is causing the price per barrel to harden. The sudden reduction in the conventional oil production by more than 3 million barrels is mainly due to the fire in Canada and the internal dispute …

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Kuwait bourse heads south; volume drops

Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 5,324.05 points, down by 1.32% from the week before closing, the Weighted Index decreased by 1.65% after closing at 356.71 points, whereas the KSX-15 Index closed at 830.91 points down by 1.67%. Furthermore, last …

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Apple CEO Tim Cook meets Indian PM Modi – US tech giant’s chief outlines company’s plans for Indian market

NEW DELHI, May 21, (AP): Apple CEO Tim Cook laid out his company’s plans for the vast Indian market in a meeting Saturday with Prime Minister Narendra Modi, who in turn sought Apple’s support for his “Digital India” initiative focusing on e-education, health and increasing farmers’ incomes. Modi and Cook …

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NBK celebrates the graduation of the fifteenth batch of NBK Academy

National Bank of Kuwait (NBK) celebrated the graduation of the fifteenth batch of newly hired young Kuwaitis from NBK Academy. NBK Academy aims to train and develop the professional skills of young Kuwaitis as part of NBK’s strategy to attract and develop national human resources. NBK organized a special ceremony …

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Western powers back business with Iran – US, France, Britain, Germany and EU seek to reassure companies

BRUSSELS, May 20, (AFP): Foreign banks and businesses should not hold back from conducting legal business with Iran, Western powers said Friday. In a joint statement released after talks in Brussels, the United States, the European Union, France, Britain and Germany sought to reassure companies that, after the Iran nuclear …

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Apple’s stores getting new look as other retailers struggle – Company to overhaul nearly 480 stores worldwide

SAN FRANCISCO, May 20, (AP): Apple is getting ready to unveil a stylish new product that’s not for sale — a new look for its stores. The iPhone maker is overhauling its nearly 480 stores worldwide, starting with its new two-story location in San Francisco. Apple provided a glimpse of …

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