Business

Oil companies show us your books

‘Be more transparent’ Some leading international consultancy houses are asking international oil companies to open their books and reveal future oil prices especially since the demand for oil will peak by 2036. They should reveal whether they are prepared to meet such a demand, and what their forecast prices range …

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Boursa Kuwait ends trading in green

Boursa Kuwait ended last week in the green zone. The Premier Market Index closed at 5,455.85 points, up by 1.99%, the Main Market Index increased by 0.34% after closing at 4,963.10 points, and the All-Share Index closed at 5,280.86 points up by 1.44%. Furthermore, last week’s average daily turnover increased …

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Kuwait winds up week with slight ‘pullback’

Mabanee jumps 14 fils; KFH trips KUWAIT CITY, Aug 9: Kuwait stocks saw a slight pullback on Thursday snapping the six-day gaining spree. The All Shares Index slipped 6.29 points in a lackluster trade to 5,280.86 pts even as the heavyweights closed mixed. The Premier Market dipped 10.41 pts to …

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Mezzan Holding reports H1 net profit of KD 6.8mn

Group revenue rises 1.5% to KD 109.4mn during first half 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 the first half ending June 30, 2018. H1 2018 …

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Kuwait Businesses Center receives 350 transactions daily

KUWAIT CITY, Aug 9,: Kuwait Businesses Center receives 350 transactions daily, reports Al-Qabas daily quoting Services Supervisor at the center Saleh Al-Thufairi. Al-Thufairi told the daily that the center processes applications for establishment of companies within 48 hours, except the issuance of licenses as this requires approval of Kuwait Municipality …

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Kuwaiti officials predict stagnant crude oil price until 2018 year end

OPEC may need extraordinary meeting over output changes: Iran KUWAIT CITY, Aug 8, (Agencies): The price of oil in the global market is highly expected to remain within the range of $70 to 75 per barrel until the end of the year, a Kuwaiti official said on Wednesday. Geopolitical factors …

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Impact of US sanctions on Iran spreads to world markets

KUWAIT CITY, Aug 8: The impact of US sanctions on Iran has not only affected Iran, but has spread to world markets amid anticipation of the expected major repercussions on the Iranian economy, reports Al-Rai daily. Word in the local Kuwaiti market is that the currency rate of one million …

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‘Govt should not borrow to finance budget deficit’

KUWAIT CITY, Aug 8: The State Audit Bureau recommends that the government should not borrow for financing the budget deficit, and should instead opt for capital projects, provided it develops a longterm strategy to deal with the risk of increasing public debt, reports Al- Qabas daily. In a report concerning …

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Kuwait stocks extend gains in tame session

Humansoft Holding soars 45 fils; Ooredoo slips KUWAIT CITY, Aug 7: Kuwait stocks headed north on Tuesday extending the gains to fifth straight session. The All Shares Index climbed 20 points to 5,279.05 points paced by Humansoft Holding and some of the heavyweights even as the overall sentiment remained soggy. …

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Heritage Village project reflects the execution failure 14 yrs after launch

About half a billion dinars wasted: Al-Otaibi KUWAIT CITY, Aug 7: About half a billion dinars has been wasted on the Heritage Village project in Sharq area. Chairman of Municipal Council Eng Osama Al-Otaibi expressed his displeasure over the situation of the village project, which reflects the failure in the …

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