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Tuesday , November 13 2018

Business

CBK records net profit of KD 46.2mn for 2015 – Board recommends 13% cash dividend, 6% bonus shares

KUWAIT CITY, Jan 30: Commercial Bank of Kuwait announced an operating profit of KD 99 million (before provisions and taxes) for the year 2015. The net profit of the bank was KD 46.2 million with earnings per share of 32.7 fils. The Board of Directors recommended to the General Assembly …

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As prices hit rock-bottom, time for producers to talk – Oil may reach $40 on output cuts

Every oil producer is hurt without exception, as the oil prices have hit rock-bottom. It is time to discuss about allotting at least the lowest price of oil. If the two biggest global producers cannot lead and manage their biggest source of income, then why bother to brag about it …

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Yields rise; sovereigns boost issuance

GCC debt yields were volatile in 2015 but finally moved higher in the second half of the year. Rising US rates and further declines in oil prices pushed yields up later in the year, though in most cases yields were unchanged or even lower than at the start of 2015. …

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Kuwait indices gain, end losing streak – Market cap increases by 3.94%; volume soars 15.94%

Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 5,010.39 points, up by 1.30% from the week before closing, the Weighted Index increased by 4.43% after closing at 344.87 points, whereas the KSX-15 Index closed at 809.68 points up by 5.46%. Furthermore, last …

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Crude prices to average just over $40 in 2016 – $42.5 a barrel

LONDON, Jan 29, (RTRS): Oil prices will average just over $40 this year, the biggest cut to monthly forecasts in a year, as an influx of Iranian barrels hits an already-saturated world market, a Reuters poll showed on Friday. The survey of 29 economists and analysts forecast benchmark North Sea …

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KSE indices gain amid upbeat earnings – Market cap rises by 4.4 pct to KD 23.63 billion

KUWAIT CITY, Jan 29: The KSE indices all witnessed a close in positive, after a long interval of a negative closings, amid many counters reporting positive earnings throughout the week. The KSE Price Index saw a marginal increase of 1.30% to close at 5,010.39, as well the KSX-15 closed at …

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Iran pushes OPEC oil output to new high – 290,000 bpd rise in Jan

LONDON, Jan 29, (RTRS): OPEC oil production has jumped to its highest in recent history in January as Iran increased sales following the lifting of sanctions and its rivals Saudi Arabia and Iraq also boosted supply, a Reuters survey showed on Friday. Rising output in the Organization of the Petroleum …

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How Saudi ‘defended’ its US crude mkt share – 1.2m bpd since 2009

John Kemp is a Reuters market analyst. The views expressed are his own.                        — Editor By John Kemp LONDON, Jan 29, (RTRS): Saudi Arabia has successfully defended its share of the US oil market even as rising domestic production from shale and growing pipeline imports from Canada have cut seaborne …

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Gulf Bank net profit rises 10% in 2015 – Bank’s total assets reach KD 5,438 million; 4 fils per share cash dividend recommended

KUWAIT CITY, Jan 28: Gulf Bank today announced an operating profit before provisions of KD 108 million for the year ended, 31 December 2015, and a Net profit at KD 39 million, which is a 10% increase over 2014. At the end of December 2015, the Bank’s total assets were …

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KFH posts KD 145.8 mln net profit for 2015 – Board recommends 17% cash dividends 10% bonus shares, 31.1 fils EPS

KUWAIT CITY, Jan 28: Kuwait Finance House (KFH) Chair-man, Hamad Abdulmohsen Al-Marzouq said that KFH, by the Grace of Allah and His Blessings, has posted a net profit of KD 145.8 mln for the fiscal year 2015 compared to KD 126.5 mln for the year 2014, thus marking an increase …

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