Friday , September 21 2018

Business

Gulf Bank celebrates its 55th ‘anniversary’ – Proud to serve Kuwait 

KUWAIT CITY, Nov 28: Gulf Bank is happy to celebrate its 55th anniversary. On Nov 23, 1960, His Highness Abdullah Salem Al- Sabah, The Amir of Kuwait, signed Amiri Decree No. (44) recognizing Gulf Bank as a shareholding company. Days later, on Nov 27, 1961, the founding decree was published …

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No change in policy as OPEC meets in Vienna – ‘Silence is the outcome’

OPEC will be meeting in Vienna with “nothing much to be achieved”. Every oil minister will be telling himself, “When will the oil prices stop declining?” The low oil prices of $43- $45 per barrel were not part of our agenda last November. Unquestionably, OPEC never anticipated that its decision …

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Kuwait market returns to green zone

Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 5,794.64 points, up by 1.21 percent from the week before closing, the Weighted Index increased by 0.96 percent after closing at 394.60 points, whereas the KSX-15 Index closed at 943.56 points up by 1.02 …

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Black Friday crowds thin after US stores open – Holiday shoppers get a head start on Thanksgiving

PITTSBURGH/CHICAGO, Nov 27, (Agencies): Crowds were thin at US stores and shopping malls in the early hours of Friday, initial spot checks showed, as shoppers responded to early Black Friday discounts with a mix of enthusiasm and caution. Many shoppers headed out to stores on Thanksgiving evening, a month before …

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Strong bank results offset by weakness in other sectors

KUWAIT CITY, Nov 27: The financial results for the first nine months of 2015 (9M-2015) of corporates listed on the Kuwait Stock Exchange (KSE) were disappointing. Strong performance by the banking sector was offset by weakness in the telecom and non-bank financial services sectors. The unimpressive results failed to provide …

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Moody’s affirms ABK A2/Prime-1 ratings – Outlook on all long-term ratings stable

KUWAIT CITY, Nov 27: Moody’s Investors Service, (“Moody’s”) has today affirmed all ratings on Al Ahli Bank of Kuwait K.S.C.P. (ABK), including the bank’s deposit ratings (A2/Prime-1), baseline credit assessment (BCA) and adjusted BCA (baa3), and counterparty risk assessment (A1(cr)/Prime-1(cr)). The outlook on all long-term ratings is stable. Today’s action …

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Weak Japan’s report supplies more bad news for Abenomics – Jobless rate at 20-year low, consumer spending drops

TOKYO, Nov 27, (Agencies): Japan on Friday published a string of mostly weak data, the first major figures since news that the world’s number three economy had slipped back into recession. A key inflation gauge showed prices fell in October from a year ago, while spending by households also dropped …

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Turkish steel delegation visits Kuwait – Initiative to boost relations between two countries

ANKARA, Nov 25: Turkish steel industry takes strong initiative to further boost relations with Kuwait. Turkish Steel Exporters’ Association organized a visit to Kuwait between Nov 17 and 19 with a delegation of 21 Turkish steel companies. Having brought together representatives of the steel industry as well as senior officials …

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AUB participates in investment, realty expo

KUWAIT CITY, Nov 25: Ahli United Bank participated in the International Finance, Real Estate, and Investment Expo held from Nov 22-25 at Raya Hall at the Marriott Courtyard. The Bank’s pavilion received a large number of  visitors wishing to learn more about the Bank’s valued products and services. The bank …

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Al-Zayani launches new range of Daewoo trucks

KUWAIT CITY, Nov 25: The Zayani Tata showroom witnessed one of its prime events yet; in the presence of VIPs, colleagues and media friends, Al-Zayani Automotives and Tata Daewoo Motors launched the new range of Daewoo medium commercial trucks in the new Daewoo Showroom in Al-Rai.  The grand opening of …

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