Business

Strong bank results offset by weakness in other sectors

KUWAIT CITY, Nov 27: The financial results for the first nine months of 2015 (9M-2015) of corporates listed on the Kuwait Stock Exchange (KSE) were disappointing. Strong performance by the banking sector was offset by weakness in the telecom and non-bank financial services sectors. The unimpressive results failed to provide …

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Moody’s affirms ABK A2/Prime-1 ratings – Outlook on all long-term ratings stable

KUWAIT CITY, Nov 27: Moody’s Investors Service, (“Moody’s”) has today affirmed all ratings on Al Ahli Bank of Kuwait K.S.C.P. (ABK), including the bank’s deposit ratings (A2/Prime-1), baseline credit assessment (BCA) and adjusted BCA (baa3), and counterparty risk assessment (A1(cr)/Prime-1(cr)). The outlook on all long-term ratings is stable. Today’s action …

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Weak Japan’s report supplies more bad news for Abenomics – Jobless rate at 20-year low, consumer spending drops

TOKYO, Nov 27, (Agencies): Japan on Friday published a string of mostly weak data, the first major figures since news that the world’s number three economy had slipped back into recession. A key inflation gauge showed prices fell in October from a year ago, while spending by households also dropped …

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Turkish steel delegation visits Kuwait – Initiative to boost relations between two countries

ANKARA, Nov 25: Turkish steel industry takes strong initiative to further boost relations with Kuwait. Turkish Steel Exporters’ Association organized a visit to Kuwait between Nov 17 and 19 with a delegation of 21 Turkish steel companies. Having brought together representatives of the steel industry as well as senior officials …

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AUB participates in investment, realty expo

KUWAIT CITY, Nov 25: Ahli United Bank participated in the International Finance, Real Estate, and Investment Expo held from Nov 22-25 at Raya Hall at the Marriott Courtyard. The Bank’s pavilion received a large number of  visitors wishing to learn more about the Bank’s valued products and services. The bank …

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Al-Zayani launches new range of Daewoo trucks

KUWAIT CITY, Nov 25: The Zayani Tata showroom witnessed one of its prime events yet; in the presence of VIPs, colleagues and media friends, Al-Zayani Automotives and Tata Daewoo Motors launched the new range of Daewoo medium commercial trucks in the new Daewoo Showroom in Al-Rai.  The grand opening of …

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KSE climbs 7.62 pts in lacklustre trade – Americana gains 20 fils; NBK flat

KUWAIT CITY, Nov 25: Kuwait stocks pulled higher on Wednesday after the moderate pullback in the last session. The key index rose 7.62 pts in lackluster trading to 5,772.66 points even as board remained mixed. Some of the mid and small caps sagged on selling pressure while blue chips remained …

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Gulf Bank hails success of inaugural ‘Gulf Bank 642 Marathon’ – Kuwait lender reaffirms its commitment to healthy lifestyle and fitness

KUWAIT CITY, Nov 24: Gulf Bank hails the success of the inaugural Gulf Bank 642 Marathon, the first accredited international marathon road race ever to be held in Kuwait. The Bank also congratulates the winner in each race category, and extends its appreciation to those who participated and volunteered to …

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Kuwait dinar down to 2009 level in forwards – Low oil prices reduce liquidity

DUBAI, Nov 24, (RTRS): The Kuwaiti dinar fell sharply against the US dollar in the forward market on Tuesday, to levels last seen in 2009, reflecting a shortage of dinars in the cash market as low oil prices reduced liquidity, bankers said. Kuwait is one of the richest of the …

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Kuwait index retreats 8.64 pts; volume drops – NBK dips 20 fils; Humansoft Holding soars

KUWAIT CITY, Nov 24: Kuwait stocks retreated Tuesday snapping the three-day upswing. The bourse slipped 8.64 pts in lackluster trade to 5,765.04 points as profit taking weighed on select counters after recent gains. The heavyweights closed mostly lower even as the board remained broadly mixed. The KSX 15 gauge slid …

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