Wednesday , October 18 2017


Energy exports a lifeline for boycott-hit Qatar – Economic blockade threatening food imports, hitting aviation sector hard

KUWAIT CITY, June 10, (AFP): A Saudi-led diplomatic and economic blockade against Qatar may threaten food imports, but the tiny emirate still has a lifeline through its gas and oil exports, experts said Tuesday. Saudi Arabia, the UAE, Egypt, Bahrain and Yemen have suspended all diplomatic ties to gas-rich Qatar, …

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Oil markets in need of deeper production cuts – Current rate ineffective, not workable

Immediately after the OPEC and non-OPEC producers agreed to extend the period of current oil production cuts by another three months until the end of the first quarter of next year, the oil prices hit a low of below $50 per barrel. The main reason for this unexpected decline is …

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ABCK announces newly elected BoDs – Boeing, KGL and Marafie sponsor business community event

KUWAIT CITY, June 8: The American Business Council Kuwait (ABCK) held elections for the Board of Directions at the monthly meeting that was held at the Embassy of the United States. Dr Juliet Dinkha, Chair of ABCK, welcomed the guests to the Election Night and recapped for the guests how …

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Qatar’s cenbank asks for FX data as capital outflows pressure riyal – Qatari bonds extend losses after S&P downgrade, CDS rises

DUBAI/DOHA, June 8, (RTRS): Qatar’s central bank has asked commercial banks to provide it with detailed information on foreign exchange trading, banking sources told Reuters on Thursday as Doha’s diplomatic rift with other Gulf states put its currency under pressure. The riyal hit an 11-year low of 3.6530 to the …

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Arab rift deepens woes for Gulf airlines – Rivals could benefit

CANCUN, Mexico, June 7, (RTRS): A bust-up between Arab powers has dealt a blow to supercarriers already hurt by low oil prices and laptop bans, exposing the sensitivity of Gulf hubs to regional uncertainty and creating openings for rival airlines — at least in the short term. The unexpected closure …

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Al Mazaya Real Estate consolidates medium housing concept in Dubai – Company launches Q-Point and Q-Line Ramadan promotional campaign

KUWAIT CITY, June 7: Al Mazaya Holding has handed over 2,300 housing units to their owners in Q-Point project, a landmark development for the medium housing group at Dubailand, after the successful completion of construction work. The first phase of another development project, Q-Line, has been sold out 100 percent. …

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Kuwait index swings up; sentiment remains tepid – NAPESCO soars 100 fils; KIPCO falls

KUWAIT CITY, June 7: Kuwait stocks swung higher on Wednesday recouping the two-day fall. The price index climbed 18.57 pts in volatile trade to 6,819.7 points amid bargain buying in select counters. Most of the banks sagged amid anemic trading volume. The KSX 15 gauge dipped 6.5 points to 902.76 …

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21st group of participants graduate from ABK Academy – 14 candidates successfully complete four-week of intensive training program

KUWAIT CITY, June 6: Al Ahli Bank of Kuwait (ABK) congratulated the 21st group of students who recently graduated from the ‘ABK Academy’, during a ceremony that was held for the 14 participants who successfully completed the four week intensive program. The 21st round of training consisted of two main …

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