Thursday , September 20 2018


Gold drops 1st time since early October – Sabayik Co – Yellow metal’s price affected by dollar strength

KUWAIT CITY, Oct 25, (KUNA): The gold price posted first loss since start of October on Friday dropping by one percent and closing at $1,164 per ounce, according to Sabayik Al-Kuwait Company. The yellow metal’s price was affected by the USD strength against other hard currencies, namely the euro, where …

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Al Ahli Bank records net profit of KD 29.2m – Customer-focused approach is bearing fruit: chairman

KUWAIT CITY, Oct 25: Al Ahli Bank of Kuwait (ABK) today announced a net profit of KD 29.2 million for the first nine months of 2015, a 7 percent increase from KD 27.3million over the corresponding period in 2014. Net operating income also saw a substantial 8 percent jump, rising …

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Kuwait index climbs 27.19 pts; volume up – NBK gains 10 fils; Ooredoo drops

KUWAIT CITY, Oct 25: Kuwait stocks headed north on Sunday after clocking modest gains in the previous week. The bourse climbed 27.19 points in a largely flat trading to 5,807.95 pts led by some of the mid and small caps. Banking majors too shone on renewed buying. The KSX 15 …

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Weak oil and strong dollar – a puzzling relationship – Widely used currency versus widely traded commodity in world

The relationship between oil price and dollar value is intriguing not only to the US and the oil-exporters, but to researchers and governments all over the world. Most commodities, including oil tend to be negatively correlated with the US dollar as most commodities are traded in dollar. The magnitude of …

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Facebook hits all-time high amid tech euphoria

SAN FRANCISCO, Oct 24, (AFP): Facebook shares lifted Friday to an all-time high, crossing $100 for the first time, during a rally in the technology sector on Wall Street. Shares in Facebook rallied 2.5 percent to close at a record $102.19, to give the world’s biggest social network a market …

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ALAFCO records KD 16 mln net profit – Shareholders’ equity up 11% and EPS clocks 19.6 fils 

KUWAIT CITY, Oct 24: The Vice Chairman of the Board and Chief Executive Officer of Alafco Aviation Lease And Finance Company (ALAFCO), Ahmad A. Alzabin, announced that the company earned a net profit of KD 16 million for the fiscal year ended Sept 30, 2015. This translates into Earnings Per …

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Iranian crude – another headache for oil market – Battle for mkt share to continue

While the oil industry is going down, the American shale oil industry is developing. To add to this problem, a big supplier of oil has appeared in the oil market to shake this sector in a huge way. Iran is on the verge of entering the market with an oil …

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Kuwait awards $30bn projects by end of Q3 – New Al-Zour refinery expected to be completed in 45 months

KUWAIT CITY, Oct 24: The total value of projects awarded in Kuwait in 2015 climbed to KD 9 billion ($30 billion) by the end of the third quarter. Kuwait’s project market, which has lagged behind other GCC countries in the past, is second only to Saudi Arabia in terms of …

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Amazon cheap Fire does a lot for $50 – Tablet surprises in many ways

NEW YORK, Oct 24, (AP): The thing to remember about Amazon’s new $50 Fire tablet is that it’s a $50 tablet. It’s not as light or as thin as a tablet that costs five or six times more. The camera isn’t as good, and the screen isn’t as sharp. But …

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Market chalks gains for all three indices

Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 5,780.76 points, up by 0.86% from the week before closing, the Weighted Index increased by 0.68% after closing at 389.81 points, whereas the KSX-15 Index closed at 929.05 points up by 0.60%. Furthermore, last …

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