Monday , December 18 2017

Business

Kuwait index ‘lifted’ by FTSE hopes; volume up – Agility gains 15 fils; Zain slips

KUWAIT CITY, Sept 5: Kuwait stocks pulled higher on Tuesday as it re-opened after the five-day break. The price index climbed 28.46 points to 6,920.56 points buoyed by FTSE inclusion hopes and survey report showing rising investors’ bullishness over Kuwait shares. The KSX 15 gauge rose 7.18 pts to 992 …

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India ‘freezes’ bank accounts of suspected shell companies

NEW DELHI, Sept 5, (RTRS): India has frozen the bank accounts of 209,032 suspected shell companies as part of a crackdown on illegal transactions and tax evasion, the finance ministry said on Tuesday. The latest action against shell companies — which have no active business operations or assets — comes …

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Total sells Norwegian assets to Kuwait – $317m deal

PARIS, Sept 4, (AFP): French oil giant Total said Monday it has agreed to sell its remaining stake in a Norwegian oil field to Kuwait so that it can focus on its recent acquisition of Denmark’s Maersk Oil. “Total has signed an agreement to divest its remaining 15-percent interest in the …

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‘Feedback is the goal – anonymous feedback’ – Saudi Arabian ‘honesty’ app takes internet by storm

RIYADH, Sept 4, (AFP): Fizzing with boyish exuberance, Saudi programmer Zainalabdin Tawfiq could be mistaken for a college freshman, but the popularity of his “honesty” app has shone a spotlight on the conservative kingdom’s nascent tech scene. Tawfiq catapulted to fame when he took time out of his day job …

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Boursa closes week’s trading in green zone – Volume dips 15.68 pct

Boursa Kuwait ended last week in the green zone. The Price Index closed at 6,892.10 points, up by 0.10% from the week before closing, the Weighted Index increased by 0.24% after closing at 430.57 points, whereas the KSX-15 Index closed at 984.90 points up by 0.44%. Furthermore, last week’s average …

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Need to cut dependence on oil – Kuwait’s govt sole source of income … is it sustainable?

For how long will Kuwait depend on oil as its only source of income? Is it sustainable on a long term basis, especially since we know well that oil prices are unlikely to go beyond $70 per barrel in the coming years? This is not only because of the arrival …

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India rushes to defend bank note ban as doubts grow – Critics say bold monetary experiment has failed

NEW DELHI, Aug 31, (RTRS): India’s government scrambled to defend its attempt to crack down on the shadow economy by banning high denomination banknotes, after data showed almost all of the abolished currency had made it back into the banking system. Prime Minister Narendra Modi personally led the shock move …

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Funds favour Kuwait before FTSE decision – Mideast managers bearish on Qatar

DUBAI, Aug 31, (RTRS): Middle East funds plan to move aggressively into Kuwaiti stocks as the market prices in expectations that index compiler FTSE will add the Gulf state to its secondary emerging market index, a monthly Reuters poll found. At the end of September, FTSE is to announce its …

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Kuwait equities extend losses in volatile trade – KIPCO dips 18 fils; Ooredoo jumps

KUWAIT CITY, Aug 30: Kuwait stocks  slipped further on Wednesday extending its losses to third consecutive session. The bourse fell 7.35 pts in volatile session to 6,892.1 points as investors exited positions ahead of the Eid holidays. The blue chips, led by banking shares, closed mostly in red. The KSX …

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‘Hurricane damage will linger’

OMAHA, Nebraska, Aug 30, (AP): Billionaire Warren Buffett says the storm damage in Texas is staggering, but he isn’t sure yet how much insurance companies will have to pay in claims. Buffett’s Berkshire Hathaway conglomerate owns Geico and several other insurers, so his company will be helping people rebuild. Buffett …

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