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Saturday , November 17 2018

Business

‘Kuwait Banking Association’ instructs local banks to stop collecting SMS fees

KUWAIT CITY, Aug 29: According to verbal instructions from the Central Bank of Kuwait (CBK), Kuwait Banking Association has informed all local banks and branches of foreign banks to stop collecting fees for SMS service even before Sept 16, 2018 – the date specified for implementing the regulation that the …

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Kuwait market extends losses in sluggish trade

KFH sheds 7 fils, Humansoft Holding soars KUWAIT CITY, Aug 28 : Kuwait stocks pulled lower on Tuesday extending the losses to third consecutive day. The All Shares Index dipped 36.12 pts in lackluster trade to 5,118.33 pts dragged by banking shares and some of the industrials. The Premier Market …

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Summer lull weighs on Kuwait consumer spending – Consumption of durables flat in July

Growth in the NBK consumer spending index eased to 6.5% y/y in July, despite recording a strong rise in month-on-month terms. Signs of the summer lull were apparent, with softer demand for durable goods and services during the month. Meanwhile, spending on non-durables increased in July, but growth in that …

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Financial Brokerage Sector has been witness to the drastic changes lately

Govt urged to address complaints of citizens KUWAIT CITY, Aug 28: Financial Brokerage Sector has been witness to drastic changes lately due to the newly approved licenses and activities concerning management of investment portfolios by investment counselors and the subscription agent, coupled with activities of the custodian. A source said …

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Design for Khaitan’s comm center roads complete

‘Technical, contractual documents prepared, processed’ KUWAIT CITY, Aug 28: Director General of the Public Authority for Roads and Transportation (PART) Eng Ahmad Al-Hassan disclosed the Execution Department in the authority is implementing the projects which were designed and whose tender was floated by the Ministry of Public Works (MPW), reports …

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Kuwait bourse extends losses; volume shrinks

Mabanee Co dips 14 fils, KIPCO flat KUWAIT CITY, Aug 27: Kuwait stocks eroded further on Monday following last session’s pullback. The All Shares Index dipped 31.47 pts in sluggish trade to 5,154.45 points weighed by some of the heavyweights and industrial scrips. The Premier Market slid 43.35 points to …

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Kuwait inflation eases further at end of Q2

Low inflation partly due to ongoing weakness in the housing sector KUWAIT CITY, Aug 27: Inflation continued to ease in the second quarter, registering 0.5%y/y in June, a slight drop from the 0.6% recorded in March. Inflation has been trending lower since late 2016, when it reached a peak of …

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Project of Mubarak Al-Kabeer Port to be completed by 2019

Manazel Holding to develop project in Egypt KUWAIT CITY, Aug 27: The project of Mubarak Al-Kabeer Port is expected to be completed in 2019 at a total cost of about KD 2 billion, reports Al- Nahar daily.According to informed sources, the rate of completion of the project has so far …

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International ‘Property Rights Index’ shows Kuwait taking last place in the Gulf

UAE first among Arab countries KUWAIT CITY, Aug 27: The most recent International Property Rights Index showed Kuwait taking the last place in the Gulf, 9th in the Middle East and North Africa, and 62nd in the world in terms of property rights by registering 5.490 points, with an increase …

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‘Wataniya’ cuts number of daily flights – Bid to prevent ‘cancellation’

KUWAIT CITY, Aug 27: Wataniya Airways has decided to reduce the number of daily flights to five in order to prevent cancellation of scheduled daily flights, reports Al-Anba daily. According to an official, the number of daily flights will therefore not exceed seven in the coming months. On Sunday, the …

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