Business

Russia, China ink deal for Su-35 aircrafts – Contract worth over $2 billion

MOSCOW, Nov 20, (RTRS): China will buy 24 Sukhoi Su-35 fighter jets from Russia in a deal worth more than $2 billion, an industry source told Reuters on Thursday, in a move that may help the Kremlin’s strained finances. A spokeswoman for Russian state conglomerate Rostec confirmed a deal between …

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America Inc’s problem: Falling profit, revenue – Energy companies hard hit

NEW YORK, Nov 20, (AP): Corporate America has a profit problem. US company earnings are falling for the first time since 2009, when the economy was still reeling from the Great Recession. The main culprit is the plunging price of oil, which has decimated earnings at big energy companies like …

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NBK issues KD 125 million 10-year bonds – Issuance to boost Tier 2 capital under Basel III

KUWAIT CITY, Nov 18: National Bank of Kuwait S.A.K.P. (NBK), the largest bank in Kuwait (rated Aa3 by Moody’s, A+ by S&P and AA- by Fitch) successfully issued KD 125 million, 10NC5, Subordinated Tier 2, Basel III compliant bonds. The issuance represents the first investment grade-rated (Baa1 by Moody’s) Basel …

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EQUATE sponsors 10th Annual GPCA Forum 2015 – Gulf’s total petrochemical exports exceed 67 mln tons valued at $62bn: Husain

KUWAIT CITY, Nov 18: EQUATE Petrochemical Company, Kuwait’s first international joint venture in this industry, sponsored the 10th Annual Gulf Petrochemicals & Chemicals Association (GPCA) Annual Forum, which is considered one of the most celebrated industrial events through gathering top executives from around the world. EQUATE President & CEO Mohammad …

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X-cite launches greatest retail campaign in Kuwait – Win over half a million dollars cash

KUWAIT CITY, Nov 18: X-cite by Alghanim Electronics has proudly launched the greatest retail electronics campaign in Kuwait. Now with every KD 25 purchase, customers will get the chance to enter 5 weekly draws where 35 winners will win cash prizes worth more than 500,000 dollars. The promotion is valid …

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Kuwait bourse treads water; volume surges – Gulf Insurance Group jumps 50 fils; Zain slips

KUWAIT CITY, Nov 18: Kuwait stocks trod water on Wednesday after heading lower in last two sessions. The price index eased 1.68 pts in sluggish trading to 5,698.1 points even as the board remained largely mixed. The KSX 15 benchmark dived 7.41 pts to 926.26 points and is unchanged form …

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KFH participates in E-Gov forum for 2nd year in a row – Minister of State honors bank for its sponsorship and continuous contributions

KUWAIT CITY, Nov 17: Kuwait Finance House (KFH) has participated for the second year in a row in the third E-government forum themed “Information Technology Manag-ement” as part of its keenness to contribute in supporting E-government programs and discuss the future of effective and secure government services. KFH participation was …

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KAMCO hosts job-shadowing day for Carmel School students – Interactive event held in collaboration with Injaz-Kuwait

KUWAIT CITY, Nov 17: KAMCO Investment Company, a leading investment company with one of the largest AUMs in the region, and winner of the prestigious Kuwait Asset Manager of the Year Award 2015, hosted an interactive job-shadowing day in collaboration with Injaz-Kuwait. The event consisted of lectures, activities and a …

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Kuwait edges 3.38 pts lower; volume shrinks – NBK sheds 20 fils; Ooredoo gains

KUWAIT CITY, Nov 17: Kuwait stocks fell slightly on Tuesday reversing the uptick in the last session. The main gauge gave up early gains to close 3.38 points lower at 5,699.78 pts weighed by selling in some of the banking and investment shares. The KSX 15 measure dropped 9.6 pts …

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S&P upgrades Qantas rating from ‘junk’ status

SYDNEY, Nov 17, (AFP): Australian carrier Qantas on Tuesday got shot of its “junk” status when Standard & Poor’s lifted its rating from ‘BB+’ to the prized investment grade ‘BBB-’ as the airline bounces back from a tough few years. The upgrade of Qantas’ long-term corporate credit and issue rating …

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