Tuesday , September 25 2018

Business

AUBK reports strong set of results for Q3 – Bank logs KD 39.1mn net profit; EPS 27.6 fils

KUWAIT CITY, Oct 31: Ahli United Bank K.S.C.P announced its results and financial statements for the period ending on Sept 30, 2015, following the endorsement of the statements by the bank’s Board of Directors and the approval of the Central Bank of Kuwait. The results showed continuous improvement . On …

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Fed has made no ‘decision’ on interest rate hike: official – Cenbank cautioned

WASHINGTON, Oct 31, (Agencies): A voting member of the Federal Reserve cautioned Friday that the Fed has yet to decide when to raise interest rates even though it issued a statement this week that said a rate hike was possible in December. John Williams, president of the Fed’s San Francisco …

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JAL six month profit soars

TOKYO, Oct 30, (AFP): Japan Airlines said Friday its six-month net profit soared nearly 29 percent, after rival All Nippon Airways also posted upbeat results as the carriers benefit from a surge in tourism and a steep slide in fuel costs. Visitor arrivals in Japan have surged as a weak …

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OPEC October crude oil output declines led by Saudi and Iraq – Oil glut to offset waning US production

LONDON, Oct 30, (RTRS): OPEC oil output has fallen in October from the previous month, a Reuters survey found on Friday, as declines in top producers Saudi Arabia and Iraq outweighed higher supply from African members. The drops are not indicative of deliberate supply cuts to prop up prices, sources …

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China signs giant Airbus deal as Merkel visits – Deal valued at $9.7 billion

BEIJING, Oct 30, (AFP): China inked a giant aircraft contract with European manufacturer Airbus Thursday, as German Chancellor Angela Merkel began a visit with European leaders increasingly competing for market share in the world’s second largest economy. Merkel’s trip comes between a high profile visit to Britain by Chinese President …

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US consumer sentiment ‘improved’ in October

WASHINGTON, Oct 30, (AP): Americans are feeling more confident this month, a good sign for an economy driven by consumer spending, according to a University of Michigan survey. The university said Friday that its index of consumer sentiment rose to 90 after dropping to 87.2 in September from 91.9 in …

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Kuwait oil up

Kuwait oil price rose $1.51 to $42.52 per barrel in Thursday’s trades from $41.01 pb on Wednesday, Kuwait Petroleum Corporation said on Friday. In the international markets, the American crude price climbed two percent, amid negative reports about the American economy, after climbing by six percent on Wednesday. The American …

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Economy shrinks first time since ’2010 – GDP down 1.6% in 2014

KUWAIT CITY, Oct 29, (AFP): Kuwait’s economy contracted last year for the first time since 2010 as the country suffered the consequences of the global drop in oil prices, its central bank said Thursday. The country’s total Gross Domestic Product (GDP) shrank 1.6 percent in 2014, mainly because oilgenerated GDP …

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Kuwait considers petrol price increase of up to 90%: report

KUWAIT CITY, Oct 28: The Kuwaiti government has formed a special committee to study the possibility of increasing petrol prices by 70 percent to 90 percent, according to a report by Arab News. The price increase will come as a consequence of a gradual reduction of government subsidies on petrol …

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iPhone sales fuel Apple profit boost – Company’s most successful year over: Cook

SAN FRANCISCO, Oct 28, (AFP): Apple said Tuesday that surging iPhone sales helped propel a sharp rise in quarterly profits, as the tech giant delivered a record 48 million of the smartphones. Profits rose 31 percent to $11.1 billion, while revenues jumped 22 percent from a year ago to $51.5 …

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