Thursday , April 26 2018

Business

Kuwait bourse retreats slightly in choppy trade – Humansoft Holding dives 139 fils; Ooredoo flat

KUWAIT CITY, Dec 5: Kuwait stocks sagged on Tuesday snapping the two-day uptrend. The bourse fell 7.82 points in choppy trade to 6,214.12 points tracking the weakness in regional markets led by banks and some of the mid caps. The KSX 15 benchmark dropped 7.9 pts to 902.93 points trimming …

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US companies invited to bid for developing Saudi N-plant – Falih says nuclear ambitions restricted to civilian uses

RIYADH, Dec 4, (RTRS): Saudi Arabia has invited US firms to take part in developing its civilian nuclear power programme, Energy Minister Khalid al-Falih said on Monday, adding the kingdom was not interested in diverting nuclear technology to military use. Reuters has reported that Westinghouse is in talks with other …

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NBK named ‘Bank of the Year’ by The Banker

National Bank of Kuwait (NBK) has been named “The Bank of the Year in Kuwait 2017 by the leading and internationally renowned Financial Times magazine “The Banker”. The prestigious Banker award was presented to Fawzi Al Dajani, NBK London General Manager, on behalf of NBK, at a glittering awarding ceremony …

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Kuwait index ekes modest gains; volume ticks higher – KFH extends upswing; Americana slumps

KUWAIT CITY, Dec 4: Kuwait stocks eked modest gains on Monday extending the advance to the second consecutive day. The price index rose 7.81 points in choppy trade to 6,221.94 points even as the overall sentiment remained mixed. The KSX 15 gauge fell 3 points to 910.8 points while weighted …

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Sale of $300 bln Saudi state sell off moving slowly – Privatisation critical to economy in era of cheap crude

DUBAI/RIYADH, Dec 3, (RTRS): Saudi Arabia’s $300-billion privatisation programme was billed as the sale of the century when Crown Prince Mohammed bin Salman unveiled his plan to great fanfare. Nineteen months later, it is moving at a snail’s pace, bankers, investors and analysts familiar with the process say. The main …

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Qatar riyal stabilising in offshore mkt – Cenbank pledges to ensure liquidity in FX markets

DOHA, Dec 3, (RTRS): Qatar’s riyal is stabilising in offshore trade, recovering from several weeks of increasing volatility, after the central bank pledged to ensure liquidity in the foreign exchange market, commercial bankers said on Sunday. Some currency traders said they believed the central bank had sold US dollars offshore …

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Kuwait equities open month on firm footing – Agility rallies 15 fils; Ooredoo slumps

KUWAIT CITY, Dec 3: Kuwait stocks headed north on Sunday as it kicked off the month on a firm footing. The price index climbed 17.63 points in volatile trade to 6,214.13 points paced by some of the heavyweights even as the wider sentiment remained skittish. The KSX 15 measure rose …

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CBK moves to take action against theft of ATM data – CVM to be made compulsory by 2018

KUWAIT CITY, Dec 3: The Central Bank of Kuwait (CBK) has expedited the pace of adhering to the minimum standards required to address the theft of ATM data and fight against fraud using bank cards, reports Al-Qabas daily. In its fight against fraud, the CBK has requested all banks to …

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Kuwait’s growth improving on projects

The economy continues to bounce back from a 2015 slowdown, which was induced by a fiscal adjustment in the wake of the decline in oil prices. Growth in non-oil activity is expected to have improved to 3.0 percent in 2017, with growth seen accelerating further to 3.5-4 percent in 2018 …

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OPEC await Russia’s call

OPEC’s meeting in Vienna last Thursday didn’t last long. Like the previous meetings, it needed a simple nudge from Moscow, which happened. Thus, an agreement was reached to extend the current production cuts of 2.8 million barrels per day until the end of 2018. OPEC is no longer in the …

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