Business

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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Samsung flags 15 percent increase in Q4 operating profit

Samsung Electronics on Friday flagged a 15 percent increase in 2015 Q4 operating profit, rounding off a year in which the world’s largest smartphone producer struggled with fierce competition from arch-rival Apple and cut-price Chinese competitors. In an earnings estimate, the South Korean tech giant predicted an operating profit of …

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Al Habtoor considers Egypt mega project – Al Arabiya TV Channel interviews chief of Al Habtoor Group

DUBAI, UAE, Jan 7: Khalaf Ahmad Al Habtoor, Chairman, Al Habtoor Group spoke to Al Arabiya TV Channel about an ambitious project he is considering in the Egyptian capital Cairo. In an exclusive interview with Business Lunch on Al Arabiya on Wednesday Jan 6, 2016 Al Habtoor said that he …

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KFH launches its 2016 corporate campaign – Customers at the centerpiece of TV Ad

KUWAIT CITY, Jan 6: With the advent of the New Year, Kuwait Finance House’s (KFH) new corporate campaign launches with a magnificent renewed feel reflecting KFH’s keenness to show its respect and caring to its precious customers both for their loyalty to KFH throughout many years since its establishment in …

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