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Friday , November 16 2018


Global stocks boosted by crude oil, US fourth quarter GDP data – Dollar gains against major currencies; gold falls

NEW YORK, Feb 26, (Agencies): Global equity markets gained on Friday, backed by higher prices for oil and other commodities, while data showed the US economy grew faster than expected in the fourth quarter. US gross domestic product growth was revised higher, to a 1.0 percent annual rate, while economists …

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Oil slumps as Saudi rules out output cut – US stocks up

LONDON, Feb 24, (RTRS): Oil fell below $33 per barrel on Wednesday after Saudi Arabia ruled out production cuts and an industry report said US crude stockpiles hit a record, underlining the supply glut. Saudi Oil Minister Ali al-Naimi said production cuts would not happen although more countries would join …

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KSE index ends week with 8.5 points uptick – KFH rallies 15 fils; KIPCO flat

KUWAIT CITY, Feb 24: Kuwait stocks pulled higher on Wednesday to wind up the holiday-curtailed week on a firm note. The bourse rose 8.5 pts in lackluster trade to 5,174.69 points even as the trend remained broadly mixed. The KSX 15 gauge rose 1.79 points to 838.19 pts taking the …

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Dubai airport raises capacity with new extension

Dubai International, already the world’s busiest airport by international passenger traffic, opened a new extension on Wednesday that will raise its annual capacity to 90 million passengers. The opening of Concourse D is the “result of a $1.2 billion investment to enhance service and boost capacity for the more than …

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Zain makes strategic investment in neXgen Group – New entity to deliver smart city solutions and managed services

BARCELONA/KUWAIT CITY, Feb 24: Zain Group, a leading telecom innovator in eight markets across the Middle East and Africa, announces a strategic investment in neXgen Group, a leading smart city advisory and consulting services provider based in the UAE. The investment will lead to the establishment of a specialized business …

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VIVA showcases its achievements at Mobile World Congress – Operator exhibits latest offers, services and products

KUWAIT CITY, Feb 23: VIVA, Kuwait’s fastest-growing and most developed telecom operator, announced the kick-off of the Mobile World Congress 2016 organized by Group Special Mobile association “GSMA”, taking place in Barcelona between Feb 22 and 25. VIVA’s delegation from different divisions, Technology, Marketing, Sales and Services, was present at …

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CFA Society Kuwait holds first seminar in 2016

As part of an ongoing education and awareness initiative by the CFA Society Kuwait for its members, charterholders and investment professionals on significant industry developments, it held its first seminar this year to highlight the newly introduced rules and executive regulations issued by the country’s Capital Markets Authority. The seminar …

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Fiscal reforms key to Mideast stability: IMF – ‘Tepid’ growth for world economy: Lagarde

DUBAI, United Arab Emirates, Feb 23, (Agencies): The head of the International Monetary Fund on Tuesday called for greater taxation and fiscal reforms as a pathway to political stability in her second speech this week in the Middle East. “I think the economic issues have to be at the table,” …

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KSE rises 21.64 pts as volume edges up – NBK rallies 20 fils; Zain flat

KUWAIT CITY, Feb 23: Kuwait stocks headed north on Tuesday extending the gains to second straight session. The bourse climbed 21.64 pts in tepid trading to 5,166.19 points helped by fresh buying in select counters led by banks even as board remained broadly mixed. The KSX 15 gauge slipped 10.24 …

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Gulf banks under pressure from low oil prices – Govts seen reducing support: Moody’s

DUBAI, Feb 22, (AFP): Banks in the six-nation Gulf Cooperation Council (GCC) are being increasingly challenged by a liquidity squeeze resulting from low oil prices, Moody’s Investor Services said on Monday. A sustained loss in oil revenue is likely to reduce government and government-related deposits in banks and could eventually …

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