Business

KSE ‘kicks-off’ year with 46.82 pts slump – NBK falls 10 fils; Americana gains

KUWAIT CITY, Jan 4: Kuwait stocks kicked off the year with a downswing tracking weak regional and global cues. The price index, after a tame start, dropped 46.82 pts to 5,568.3 points snapping the gains in the last two sessions amid broad selling led by banks and financial shares. The …

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Gold prices low at end of 2015 — report

Gold prices ended the last session of 2015 at a low rate for the third year in a row, reaching $1,060 per ounce at the US Commodity Exchange (COMEX), according to a specialized economic report released on Monday. Gold prices are affected by the inflation rate, the drop in oil …

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Kuwait bourse ends week on mixed note – Average daily turnover up 15.24 pct

Kuwait Stock Exchange (KSE) ended last week with mixed performance. The Price Index closed at 5,615.12 points, down by 0.09% from the week before closing, the Weighted Index increased by 0.19% after closing at 381.70 points, whereas the KSX-15 Index closed at 900.43 points down by 0.23%. Furthermore, last week’s …

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Qatar’s real GDP growth slows to 3.8 pct y/y in Q3 – Trade surplus shrinks 54% y/y in November

DOHA, Qatar, Jan 3, (RTRS): Qatar’s Ministry of Development Planning and Statistics released the following preliminary third-quarter gross domestic product data on Sunday, adjusted for inflation. Qatar Real GDP             Q3/15    Q2/15      Q1/15 pct change year/year             3.8        4.8          4.1 pct change quarter/quarter       2.8        0.5          3.4 Note: The base year is 2013. …

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Russia halts free-trade deal with Ukraine – Kiev to buy gas from French, British suppliers

MOSCOW, Jan 3, (AFP): President Vladimir Putin on Wednesday signed a decree suspending Russia’s free-trade agreement with Ukraine as of Jan 1. Ukrainian President Petro Poroshenko, speaking in Brussels, admitted Russia’s retaliatory move would cause “damage” to his country’s economy but said he was “ready to pay the price” and …

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Housing boom as Mogadishu emerges from ashes of war – Diaspora Somalis return and wealthy businessmen capitalise on relative peace in city

MOGADISHU, Jan 3, (AFP): Somalia’s elegant colonial villas were left in ruins by two decades of street fighting among warlords, and the seaside capital Mogadishu was dubbed the most dangerous city in the world. But now new housing estates are being built amid an economic boom as diaspora Somalis return …

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Gulf states begin reforms as oil prices to remain low – Is it not time for Kuwait govt to act?

Last week, Saudi Arabia announced substantial increase in fuel and energy prices within 24 hours. The price of gasoline increased by 66 percent while that of electricity and water was lower. It had to be done swiftly and firmly. Bahrain followed suit as the prices of kerosene and diesel increased …

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Kuwait bourse ends 2015 on weak note

The KSE indices remained muted as we close in to the end of 2015. The markets closed at 5,615.12 down by a mere 4.86 points on a weekly basis. While the KSX15 which comprises of the market blue chips closed at 900.43 down 2.09 points. As it would be the …

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India notches up one billion mobile phone ‘subscribers’ – Data underscores importance of New Delhi’s fast-growing market

NEW DELHI, Jan 2, (AFP): India notched up its billionth mobile phone subscriber in October, the country’s telecoms regulator said, underscoring the importance of its fast-growing mobile market, the world’s second largest after China. Mobile phone subscriptions have boomed in India in recent years as aggressive cost-cutting by its 12 …

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Oil prices could hit record lows in 2016: BP chief

LONDON, Jan 2, (AFP): Struggling oil producers could suffer even more pain in 2016 with further plunges in already record-low prices, BP Chief Executive Bob Dudley warned Saturday. “A low point could be in the first quarter,” Dudley told BBC radio. Oil prices fell by 34 percent in 2015, battered …

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