Thursday , December 14 2017

Business

Flyadeal to commence flights next month – Saudi seeks to expand air services to boost tourism

JEDDAH, Saudi Arabia, Aug 26, (AFP): Saudi Arabia’s new budget carrier Flyadeal said Thursday it will start flying next month, as the kingdom seeks to expand air services to boost tourism in a radical overhaul of its oil-dependent economy. Flyadeal, a subsidiary of the state-owned Saudi Arabian Airlines corporation, will …

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Oil is safe at $50 per barrel – Price not sustainable for coming 2-3 yrs

Oil producing countries should be satisfied with the current oil price range of $50-$52 for the rest of the year. With shale oil production sailing smoothly and growing at a nice pace, USA oil production should reach more than 1.6 million barrels next year. So far everybody is satisfied with …

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Nilekani lays out his agenda at Infosys – New chairman seeks to calm investor unrest

BANGALORE, India, Aug 26, (AFP): Nandan Nilekani, the newly appointed chairman of troubled Indian software services giant Infosys, said Friday he wanted to find a new chief executive, reconstitute the board and stabilise a business roiled with conflict in recent months. As an Infosys cofounder who ran the business from …

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HE Al-Hashimi discusses Expo 2020 progress with Al Habtoor

Her Excellency Reem Al-Hashimi, UAE Minister of State and Managing Director for the Dubai World Expo 2020 Bid Committee, called in on Khalaf Ahmad Al Habtoor, Founding Chairman, Al Habtoor Group at the Al Habtoor Group head office. The theme of Expo 2020 Dubai is ‘Connecting Minds, Creating the Future’. …

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Zain and Omantel complete share sale on Boursa Kuwait for $846.1m – Deal provides impetus to Zain business and digital growth strategy: Al-Kharafi

KUWAIT CITY, Aug 24: Mobile Telecommunications Company (“Zain”) and Oman Telecommunications (“Omantel”) are pleased to announce that Omantel has won the bid to acquire 425.7 million treasury shares representing 9.84% of Zain’s fully paid in and issued share capital at an offer price of KD 0.600 per share, representing a …

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Kuwait price index ends down in volatile session – Humansoft Holding tumbles 245 fils; Zain gains

KUWAIT CITY, Aug 24: Kuwait stock swung lower on Thursday as it wound up the week on a dour note. The price index dipped 37.31 points in volatile trade to 6,885.17 points as selling weighed on select counters. The heavyweights however showed mixed trend. The KSX 15 benchmark rose 1.96 …

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Kuwait’s July inflation edges higher to 1.26%: official data – Bank lending growth slows in June

KUWAIT CITY, Aug 23, (Agencies): The Consumer Prices Index (CPI) rose by 1.26 percent in July 2017 compared to the same month in 2016, the Central Statistical Bureau (CSB) said on Wednesday. The index figure for July 2017 recorded a decrease of 0.09 percent, compared to June, the CSB added …

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Kuwait bourse winds up in red; volume ‘shrinks’ – Jazeera Airways dips 24 fils; NBK ticks up

KUWAIT CITY, Aug 23: Kuwait stocks sagged on Wednesday snapping the 5-day advance. The price index fell 9.53 pts in volatile trade to 6922.48 points as profit taking dragged select counters. The broader market sentiment however remained skittish in absence of drivers. The KSX 15 benchmark inched 0.67 pts up …

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ABK-Egypt reports healthy H1 net profit – Assets soar 26% to EGP 18.91 bn; deposits up by 27%

KUWAIT CITY, Aug 23: Al-Ahli Bank of Kuwait-Egypt (ABK-Egypt) announced its results for the first half of 2017, posting an after-tax net profit of EGP 161 Million. Assets soared by 26 percent to reach EGP 18.91 Billion, while its loans and credit facilities portfolio expanded by 35 percent, reaching EGP …

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Listed companies post rise in profits in H1 – Weak revenue growth continues to indicate softness in business activity

KUWAIT CITY, Aug 22: Listed Kuwaiti companies saw a notable rise in profits in the first half of 2017; however, weak revenue growth continued to indicate softness in business activity. The financial sector was the main contributor to growth as investment gains, especially earlier in the year, boosted companies’ bottom …

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