Wednesday , December 13 2017

Business

Oil prices firm on easing oversupply concerns

After declining to the lowest in 7  months during June-17, oil prices in early August-17 rose to the highest level since the last week of May-17 on declining crude inventories in the US that supported a march towards rebalancing of the oil market. A number of positive developments and data …

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Mezzan Holding reports H1 2017 financial results – Co posts KD 50.3mn in Q2 revenue, KD 2.0mn net profit

KUWAIT CITY, Aug 9: Mezzan Holding KSC, one of the largest manufacturers and distributors of food, beverage, FMCG and pharmaceutical products in the Gulf, today announced the company’s financial results for Q2 2017. The company reported KD50.3 million in Q2 revenue, and a Q2 net profit of KD2.0 million. The …

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Kuwait bourse retreats further; volume shrinks – Jazeera Airways jump 17 fils; Zain slips

KUWAIT CITY, Aug 9: Kuwait stocks sagged further on Wednesday extending its losses to second straight session. The bourse fell 6.89 pts in volatile trade to 6,823.03 points even as the broader market trend remained mixed. The banks and other heavyweight were largely subdued. The KSX 15 gauge edged 0.94 …

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Oil producers committed to output deal: OPEC – Saudi, Iraq discuss stabilizing market

ABU DHABI, Aug 9, (Agencies): Global oil producers said Tuesday they remained committed to cutting output and stemming the collapse in oil prices, OPEC said. A technical panel including members of the Saudi-led cartel and other oil producers made the statement after a two-day session in Abu Dhabi. OPEC states …

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Kuwait index slips into red turf; volume surges – Americana tumbles 50 fils; Zain gains

KUWAIT CITY, Aug 8: Kuwait stocks slipped into red zone on Tuesday partly reversing last session’s gains. The price index fell 7.5 pts in volatile session to 6,829.92 points weighed by select shares. The banking majors eked modest gains even as the overall mood remained mixed. The KSX 15 benchmark …

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Saudi cuts crude oil allocations in Sept by more than its OPEC pledge – Cuts mainly in light crude supplies — sources

DUBAI/SINGAPORE, Aug 8, (RTRS): Saudi Arabia will cut crude oil allocations to its customers worldwide in September by at least 520,000 barrels per day, an industry source said on Tuesday, as the top oil exporter makes good on its pledge to help rein in a global supply glut. State oil …

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Inflation revised down to 1.4% in June

Revised CPI statistics reveal significantly lower inflation in recent months. Inflation came in at 1.4% year-on-year (y/y) in June following a revamp of the CPI. Radically lower housing inflation was a large reason behind the drop, with the sector now seen in deflationary territory. Other sectors saw smaller revisions in …

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Improved activity keeps prices steady in H1

Increased volatility in real estate activity dominated the first half of 2017 amid steadying prices. Despite some volatility, market activity improved significantly during the first half of the year compared to H2 ’16,  though it remained down 10% compared to a year before. Improved activity was particularly visible in the …

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Keep your valuables safe with AUB – Deposit lockers from bank are the best choice for customers

KUWAIT CITY, Aug 7: To meet the requirements of customers during the summer and the current travel season, Ahli United Bank (AUB) announces its ability to entertain requests for Safe Deposit Lockers, which are ideal for safe-keeping valuables like documents and jewellry.  They are considered the best choice to ensure …

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Kuwait bourse records modest rise; volume up – Ooredoo jumps 42 fils; Jazeera drops

KUWAIT CITY, Aug 7: Kuwait stocks swung higher on Monday following pullback last session’s pullback. The bourse climbed 25.43 points in volatile trade to 6,837.42 pts helped by renewed buying in some of the heavyweights even as the investors remained largely cautious. The KSX 15 benchmark climbed 5.88 pts to …

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