Business

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 …

Read More »

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 …

Read More »

Mideast funds more bullish on stock, bearish on bonds – poll – Most positive balance on equities since Feb 2014

DUBAI, Jan 1, (RTRS): Middle East fund managers have become more positive on regional equities with a strong bias towards the United Arab Emirates, and more bearish on bonds, a monthly Reuters survey shows. The survey of 14 leading fund managers, conducted over the past 10 days, found 50 percent …

Read More »

2015 equity market winners and losers – Netflix biggest gainer

NEW YORK, Jan 1, (AP): In a flat year overall for stocks, there was still plenty of excitement to be enjoyed — or endured — by 2015’s biggest winners and losers. It was a year to make old guard companies shudder. New media companies like Netflix, which rose 134 percent …

Read More »

China December ‘factory’ activity dips; more stimulus needed in ’16 – Services sector ends 2015 on a strong note

BEIJING, Jan 1, (RTRS): China looked set for a soggy start to 2016 after activity in the manufacturing sector contracted for a fifth straight month in December, suggesting the government may have to step up policy support to avert a sharper slowdown. While China’s services sector ended 2015 on a …

Read More »

India to tighten ‘rules’ for credit cooperatives – Move to protect investors

NEW DELHI, Jan 1, (RTRS): India will crack down on errant financial firms that raise funds, mainly from millions of rural poor customers, through loosely regulated credit cooperative societies, a senior official in the agriculture ministry said. This follows a Reuters investigation that revealed an expansion in fund-raising by embattled …

Read More »

Warba Bank opens new branch in Al-Egaila – Move in line with lenders expansion policy across Kuwait

KUWAIT CITY, Dec 29:  For achieving its expansion policy aiming at attracting the larger segment of customers, Warba Bank inaugurates its 9th branch across Kuwait in Al-Egaila Area, Al Arabiya Commercial Complex. The new branch joins branches network covering all vital areas in Kuwait. The opening ceremony has been organized …

Read More »

Saudi economic shake-up shows it is planning for cheap oil prices – Aramco chairman says country can wait out rivals

DUBAI, Dec 29, (RTRS): Saudi Arabia’s planned cuts in spending and energy subsidies signal that the world’s largest crude exporter is bracing for a prolonged period of low oil prices. The OPEC heavyweight shows no signs of wavering in the long-term oil strategy it has orchestrated since last year. Instead, …

Read More »

Kuwait crude to hit $27 in Feb: analyst – Rise in Iran oil cited

KUWAIT CITY, Dec 29, (KUNA): A Kuwaiti oil analyst has forecasted the price of Kuwaiti oil barrel would drop to USD 27 per barrel next February, affected by the pumping of Iranian oil into the markets and the decision to lift the ban on exports of US crude oil. International …

Read More »

KSE index declines 44.6 pts; volume up – KFH drops 10 fils; Zain gains

KUWAIT CITY, Dec 29: Kuwait stocks veered south on Tuesday as it extended the losses to third consecutive session. The bourse, after a tame start, dipped 44.6 points to 5,583.81 pts even as sentiment remained dull in absence of catalysts. The banking shares remained mostly unchanged while some of the …

Read More »
Translate »