Business

Iran to boost oil output by 500,000 barrels – UAE sees market ‘harm’

DUBAI, Jan 18, (RTRS): Iran has ordered a rise in oil output by 500,000 barrels a day following the lifting of sanctions, official media reported, but fellow OPEC member the United Arab Emirates said any extra crude would delay the market’s recovery. Iranian officials have said repeatedly in recent days …

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Kuwait extends losing streak; dips 43.78 pts – NBK gains 10 fils; KIPCO flat

KUWAIT CITY, Jan 18: Kuwait stocks headed south on Monday extending the losing streak to 11th consecutive day. The bourse slid 43.78 pts to 5,054.64 points as sentiment remained weakening oil prices and negative and fragile global backdrop. The banks closed narrowly mixed even as some of the telecom shares …

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KFH major contributor in Bahrain projects – Strategy targets development, coordination among Group banks: Al-Nafisi

KUWAIT CITY, Jan 18: Vice Chairman at Kuwait Finance House (KFH), Abdulaziz Yaqoub Al-Nafisi stressed the importance of international investment and creating further integration in KFH-Group banks in the framework of the coordination that targets boosting development according to a unified vision that prioritizes development and recognizes the value of …

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Kuwait bourse tumbles 167.52 pts amid sell-off – NBK dives 50 fils; Americana flat

KUWAIT CITY, Jan 17: Kuwait stocks went into a downward spiral on  further drop in oil prices following the lifting of Iran sanctions. The price index tanked 167.52 pts amid broad sell-off to 5098.42 points extending the rout to tenth straight session. The banks and financials led the day’s decline …

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Iran ‘return’ risks more pressure on oil prices – Tehran to boost exports by 500,000 bpd

LONDON, Jan 17, (AFP): Iran’s intention to significantly increase oil output after the lifting of international sanctions risks more pressure on crude prices already at 12-year lows, according to analysts. Oil prices tumbled by more than 30 percent last year and have slumped by a further 20 percent since the …

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Why global woes and sinking stocks don’t mean US recession – Economy resilient

WASHINGTON, Jan 17, (AP): Last week’s harrowing plunge in US stocks — fueled by economic fears about China and plummeting oil prices — left investors anxious and alarmed. Some wondered if it signaled an approaching recession in the United States. The answer, most analysts say, is no. The American economy is …

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Vietnam sees labour challenges in TPP – Communist country will have to introduce wide-ranging reforms

HANOI, Jan 17, (AFP): After organising communist Vietnam’s first peaceful mass strike at a shoe factory, labour activist Do Thi Minh Hanh was arrested, beaten bloody by police, and jailed for four years. Authoritarian Vietnam does not allow the millions of workers in its export-orientated factories, which are driving impressive …

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Co focus on producing oil at lowest cost – Breakup of Saudi Aramco

Last week, Saudi Aramco announced that it is studying several proposals from international firms to determine the best way to privatize Aramco and sell part of it. Aramco is the largest oil producing and exporting company in the world with a current production of 10.3 million barrels and export rate …

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Modi vows to boost India’s entrepreneurs – Govt outlines big measures under Start Up India

NEW DELHI, Jan 16, (AFP): Indian entrepreneurs will receive generous tax breaks and face dramatically reduced red tape when starting and closing a business, Prime Minister Narendra Modi said Saturday, as he launched a pet initiative to bolster India’s fast-growing startup scene. Speaking at a gathering of 2,000 entrepreneurs from …

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Inflation expected to average 3.3% in 2015

Inflation in consumer prices came marginally lower in November, easing from 3.2% year-on-year (y/y) in October to 3.1% y/y, as inflation in most components was either unchanged or remained steady. Core inflation (which excludes food inflation) also eased slightly, from 2.9% y/y to 2.8% during the same period. Subsequently, annual …

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