Monday , January 22 2018

Business

Value of K-net transactions surpassed $1 billion in 2016 – Digital business sees major prosperity

KUWAIT CITY, Oct 17, (KUNA): Minister of Commerce and Industry Khaled Al-Roudhan said Tuesday that the transactions value of the retail payment system (K-net) in Kuwait has surpassed $1 billion in 2016. Digital business in Kuwait has seen lately a major prosperity, Al- Roudhan, also Acting Minister of State for …

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KFH posts KD 137.9mn net profit until end of Q3 – Earnings per share rise 11.8% to 24.26 fils; total operating income up 9.1%

KUWAIT CITY, Oct 16: Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al-Marzouq said that “KFH has, by the grace of Allah, realized a KD 137.9 million net profit to shareholders until end of Q3 2017 compared to KD 123.1 million for the same period last year i.e. an increase …

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Global oil producers may not need to extend cuts: Kuwait – World energy demand expected to rise

KUWAIT CITY, Oct 16, (Agencies): Oil producers may not need to roll over a deal to cut production beyond March if all members fully comply with their pledges, the Kuwaiti oil minister said Sunday. “The current reduction deal is sufficient to achieve the desired purpose,” of rebalancing the oil market, …

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Kuwait’s stocks inch higher on thin trades – KFH gains 10 fils on earnings; Humansoft dives

KUWAIT CITY, Oct 16: Kuwait stocks inched higher on Monday as bank shares rose after KFH posted a 12 pct increase in its net profit until the end of Q3 2017. The main index rose 13.66 points amid slightly volatility trade to settle at 6,635.96 points. The KSX-15 benchmark advanced …

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Wataniya Airways to launch Beirut flights

Kuwait Wataniya Airways announced launching flights to Beirut, Lebanon, as of Nov 9, with four flights weekly to and from Kuwait International Airport. The new destination will boost the company’s performance rate, head of Wataniya’s public relations and media department Lana Al-Rasheed told KUNA on Sunday. The company aims to …

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Non-oil growth pegged at 0.8% in 2017, 1.1% next

More than three years into the oil price downturn and the Saudi economy continues grapple with subdued domestic demand, lower consumer confidence and the effects of the pullback in government spending. Energy and utility subsidies have been curtailed, taxes have been introduced, public sector bonuses have been frozen (though now …

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Kuwait stocks end lower as telecom & real estate drop – Ooredoo plunges 28 fils, IPG spikes 8.75%

KUWAIT CITY, Oct 15: Kuwait stocks closed slightly lower on Sunday as a sharp decline in telecom and real estate shares offset gains in technology and oil & gas sectors. The main index fell 6.24 points in a lackluster trade to close at 6,622.3 points. The KSX-15 benchmark was down …

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Kuwait success in economic, financial reforms: IMF

Changes cap phase one WASHINGTON, Oct 14, (KUNA): Kuwait has been successful in implementing the first phase of its economic and financial reforms, which are set to balance and develop the economy of the country, Jihad Azour, the International Monetary Fund’s (IMF) Director of the Middle East and Central Asia …

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KFH awarded ‘Best Islamic Project Finance Provider in the World 2017’ – KT Bank named ‘Best Up-And-Coming Financial Institution in the World 2017’ by Global Finance

KUWAIT CITY, Oct 14: Global Finance Magazine has awarded Kuwait Finance House (KFH) the “Best Islamic Project Finance Provider in the World 2017”, while “Best Up-And-Coming Financial Institution in the World 2017” for KT Bank AG, KFH’s bank in Germany. KFH-Group CEO Mazin Saad Al-Nahedh received the awards in an …

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Alghanim Industries sponsors Tmkeen Youth Symposium – Strategic sponsorship for second year in a row in support of entrepreneurship

KUWAIT CITY, Oct 14: Alghanim Industries, one of the largest privately owned companies in the region, announced its strategic sponsorship of the 6th annual Tmkeen Youth Symposium, which will be held under the patronage of the Amir, HH Sheikh Sabah Al Ahmad Al Jaber Al Sabah, on Oct 23 to …

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