Business

Cadillac Alghanim launches promo on ATS, SRX, Escalate – Step into 2016 captivating luxury

KUWAIT CITY, Jan 10: New years come and go, but luxury is timeless. Yusuf A. Alghanim & Sons Automotive, the sole distributor of Cadillac vehicles in Kuwait, is proud to celebrate the new year of 2016 with its customers by offering them spectacular promotions on its award winning luxury vehicles. …

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Saudi’s Aramco would sell its downstream ops, not upstream – Stock market in poor shape to absorb big share sale

KHOBAR, Saudi Arabia/DUBAI, Jan 10, (RTRS): Saudi Arabia is considering selling shares in refining ventures with foreign oil firms but would not offer a stake in the crude oil exploration and production operations of state oil giant Saudi Aramco, sources familiar with official thinking said. Some Aramco managers have been …

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KSE sinks further amid broad selling – NBK dips 20 fils; Americana gains

KUWAIT CITY, Jan 10: Kuwait stocks veered lower on Sunday extending the downtrend from the previous week. The price index, after a tame start, dived 56.62 points to 5,418.53 pts as broad selling continued amid weak sentiment. The banks led the day’s decline whereas some of the technology shares shone. …

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Riding record sales, show to dazzle with 40 new models – Obama to visit Detroit Auto Show

WASHINGTON, Jan 9, (AFP): President Barack Obama said Saturday that he would visit the Detroit Auto Show this month so he can personally see how the industry has recovered since he took office. In his weekly radio and online address, Obama focused on how his policies helped the US car …

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Global oil prices dip again, but not for long – Tensions not helping in market recovery

With the current rate of $32 per barrel, the oil price is the lowest since 2004. For how long will this remain? Prior to the recent conflict between Saudi Arabia and Iran, the oil price per barrel was on the verge of reaching $40 level. Some sort of coordination was …

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Market indices post heavy losses during week

Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 5,475.15 points, down by 2.49% from the week before closing, the Weighted Index decreased by 2.53% after closing at 372.05 points, whereas the KSX-15 Index closed at 876.45 points down by 2.66%. Furthermore, last …

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2015 US job growth fueled by health care, business services – Consumer borrowing rises $14 billion in Nov

WASHINGTON, Jan 9, (AP): Nearly all sectors of the US economy contributed to the stellar job gains in 2015. But three stood out for their sheer volume of hiring: Professional services, health care and restaurants. Professional and business services added 605,000 jobs last year. That category includes accountants, architects, attorneys, …

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Boeing orders fall by half in 2015 but deliveries hit record

NEW YORK, Jan 8, (AFP): Boeing aircraft orders fell by nearly half in 2015 even as deliveries rose to an annual record, the aerospace giant said. Boeing said that net orders for new commercial aircraft dropped to 768 last year from 1,432 in 2014, putting it behind rival Airbus, which …

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Kuwait deficit pegged at KD 3.9b in FY15/16 – Government spending in line with budget projections

The interim public finance figures for the first eight months of fiscal year 2015/16 (FY15/16) point to a decline in government spending, as the price of oil fell to a seven-year low. However, despite the decline in overall spending, wages & salaries and capital spending still rose. The latter continued …

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Kuwait oil price in record fall to $24.12 pb

Kuwait oil price, in record decline, dropped $2. 32 reaching $24.12 per barrel on Thursday in contrast to $26.44 pb on Wednesday, Kuwait Petroleum Corporation (KPC) said on Friday. In international markets, Brent Blend contracts rose, today (Friday), 2.3 percent, reaching $34.72 pb, two dollars higher than its lowest fall …

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