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Business

Dubai group pays $2.4 bln for control of Kuwait’s Americana – Deal appears to end one of region’s longest running acquisition sagas

DUBAI, June 18, (RTRS): An investment group led by prominent Dubai businessman Mohamed Alabbar has agreed to buy a majority stake in Kuwait Food Co …

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Commercial companies face payment ‘delays’ from govt – Low oil price bites oil-producing countries

According to some local media reports, commercial companies are facing delays of up to 180 days and even a year in some cases in receiving …

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Kuwait bourse ends down as volume soars – Market cap slides 0.81% to KD 22.94bn

Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 5,394.84 points, down by 0.29% from the week before …

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Omar Alghanim wins prestigious CEO Award – Receives Knowledge and Education Development CEO Award

KUWAIT CITY, June 18: Alghanim Industries CEO Omar Kutayba Alghanim has received the Knowledge and Education Development CEO Excellence Award from the Middle East Excellence …

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Singapore exports surge 11.6 pct in May – Rise led by pharmaceutical and gold shipments

SINGAPORE, June 17, (AFP): Singapore exports surged in May on increased pharmaceutical and gold shipments as traders seek a safe haven from market turmoil but …

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Turkey cbank seen cutting rates by 50 bps – Inflation at 3-yr low

ISTANBUL, June 17, (RTRS): Turkey’s central bank is expected to lower the top end of its interest rate corridor for the fourth straight month next …

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Crude rallies in May on supply cuts – Outlook for non-OPEC supply growth in 2016 lowered

Bullish sentiment propelled oil prices to their fifth consecutive monthly gain in May. Oil prices continued their bull run in May, closing higher for the …

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Kuwait oil price down

The price of Kuwaiti oil dropped Thursday by $1.26 to settle at $42.74 per barrel after being at $44 the day before, said Kuwait Petroleum …

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Higher oil revenue, reforms to cut Saudi deficits: study – NTP 2020 key

RIYADH, June 16, (AFP): Higher oil revenues coupled with a wide-ranging economic diversification plan will combine to cut projected Saudi budget deficits in 2016 and …

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Kuwait bourse winds up week with 4.48 pts gain – Humansoft Holding jumps 100 fils; KIPCO drops

KUWAIT CITY, June 16: Kuwait stocks nudged higher on Thursday to wind up the week on a firm note. The price index rose 4.48 pct …

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