Business

Kuwait bourse treads water; volume recedes – Mabanee Co soars 40 fils; Americana dives

KUWAIT CITY, Jan 26: Kuwait stocks trod water on Tuesday following a losing streak amid sliding oil prices and bearish global backdrop. The bourse inched 1.7 pts lower to 4,936.51 points in lackluster trade even as investors toed caution. The KSX 15 benchmark rose 0.99 pts to 7,77.89 points while …

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Cheap oil blackens global recovery outlook – World trade hit hard

PARIS, Jan 26, (AFP): Lower prices at the pump may be pleasing to American and European consumers, putting breeze in the sails of a limp economic recovery, but the plunge in crude prices has now become a threat to the global recovery. “We are in a situation today where there …

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Panel discussion explores ‘Kuwait Taxation’- British Business Forum holds meeting

KUWAIT CITY, Jan 25: With falling oil prices, a budget deficit, and a recent rise in the Fed interest rates, it looks almost inevitable that Kuwait will introduce corporate taxation, was the general consensus during a panel discussion which was hosted by Donald Teale a BBF Director, during the British …

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Kuwait in spending spree on ‘projects’ despite oil slump

KUWAIT CITY, JAN 25: 2015 was a milestone for Kuwait’s projects market, with an unprecedented KD 9.7 billion ($32.2 billion) worth of contracts awarded during the year, 20 percent more than the year before. Over half of the contracts signed were related to the oil and gas sector, as Kuwait …

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KSE resumes slide with 36.73 pts dip – Americana falls 20 fils; Agility flat

KUWAIT CITY, Jan 25: Kuwait stocks swung lower on Monday as it resumed its downtrend after a modest rebound in the last session. The bourse dropped 36.73 pts in lackluster trade to 4,938.22 points as sentiment soured again amid drop in oil prices. The KSX 15 benchmark slipped 9 pts …

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IT, health care, tourism are priorities – Saudi Arabia presents plan to move beyond oil

RIYADH, Jan 25, (RTRS): Saudi Arabia outlined ambitious plans on Monday to move into industries ranging from information technology to health care and tourism, as it sought to convince international investors it can cope with an era of cheap oil. A meeting and presentation at a luxury Riyadh hotel was …

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Al Habtoor leads global initiative to alleviate poverty – KAHF extends invitation to well-known philanthropists around the world

DUBAI, UAE, Jan 24: Khalaf Ahmad Al Habtoor, Chairman of the Al Habtoor Group and Founder of the Khalaf Ahmad Al Habtoor Foundation (KAHF), is leading a global initiative to alleviate poverty. The Chairman said today that he has extended an invitation to well-known philanthropists around the world to join …

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Iran to buy 114 Airbuses to revamp fleet – First major deal after lifting of sanctions

TEHRAN, Jan 24, (AFP): Iran said Sunday it will buy 114 Airbus planes to revitalise its ageing fleet, in the first major commercial deal announced since the lifting of sanctions under its nuclear agreement. Transport Minister Abbas Akhoundi said a deal on the purchase would be signed between national carrier …

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KSE index rebounds amid bargain buying NBK jumps 20 fils; KIPCO flat

KUWAIT CITY, Jan 24: Kuwait headed north amid bargain buying on Sunday following sharp losses during last week. The bourse closed 28.62 pts higher at 4,974.95 after trading briefly above the 5,000 pts mark even as oil prices wound up the week with a sentiment boosting uptick. The KSX 15 …

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VIVA records KD 43 mln net profi t in 2015 – Total revenues reach KD 277 mln, a strong growth of 16% compared to 2014: CEO

KUWAIT CITY, Jan 24: VIVA, Kuwait’s fastestgrowing and most developed telecom operator, announced its financial results at the end of the 2015, with net profits of KD 43 million, a 6 percent increase compared to 2014. Dr Mahmoud Ahmad Abdul Rahman, VIVA’s Chairman, commenting on the financial results: “VIVA reached …

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