Saturday , April 21 2018

Business

Inflation slows to multi-year low of 0.5% in Sept

Consumer price inflation slipped to a multi-year low of 0.5% in September, as deflationary housing costs were compounded by the fading impact of last year’s fuel price hikes. Inflation excluding housing rent and food costs, dipped from 4.2% y/y in August to 2.4% y/y in September, highlighting the impact of …

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KFH wins ‘Best Consumer Digital Bank in Kuwait 2017’ award – Product innovation awards for KFH and KFH-Turkey from Global Finance

KUWAIT CITY, Nov 7: Kuwait Finance House (KFH) won “Best Consumer Digital Bank in Kuwait 2017” Award from Global Finance Magazine in the Middle East Category. Also, KFH and KFH-Turkey won Product Innovation (Al Nuwair Deposit), and Product Innovation (New Generation Credit Card) awards respectively in the category of The …

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NAPESCO posts KD 7.9mn net profit for first 9 months

KUWAIT CITY, Nov 7, (KUNA): National Petroleum Services Company (NAPESCO) announced on Tuesday that its net profit was totaling KD 7.9 million (around $25.8 million) during the first nine months of 2017, compared to KD 5.7 million during the same period in 2016, an increase of 39.7 percent. NAPESCO announced …

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Kuwait index continues to slide; volume swells – Americana sinks 120 fils; Ooredoo gains

KUWAIT CITY, Nov 7: Kuwait stocks continued to slide on Tuesday extending the week’s slump. The bourse tumbled 176.06 pts to 6,143.01 points tracking region’s downswing triggered by Saudi crackdown. The blue chips led by banks continued to bleed as panic gripped the trading floor. The KSX 15 slid 43.14 …

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Qatar buys 9.6% stake in Cathay Pacific

Qatar Airways has bought a stake in Cathay Pacific, it announced Monday, giving the Doha-based airline a toehold in the potentially lucrative Asian aviation market. The state-owned Gulf carrier said it had acquired a 9.6 percent stake in Cathay, which would make it the third largest shareholder in the Hong …

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Al Mazaya posts KD 6.87mn Q3 net profit; EPS 11.04 fils – Co maintaining balanced developmental drive, progressive growth in sales and lease operations: Al Saqabi

KUWAIT CITY, Nov 6: Al Mazaya Holding has announced its financial statements for Q3 2017, posting KD 6.87 million in net profits, against KD 6.84 million for the corresponding period in 2016. Earnings per share reached 11.04 fils in Q3 against 11.01 fils for the same period last year. Commenting …

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Kuwait slumps on Saudi jitters; volume increases – NBK dips 34 fils; Ooredoo gains

KUWAIT CITY, Nov 6: Kuwait stocks sank on Monday extending last session’s losses. The price index tumbled 149.09 points amid broad sell-off to 6,319.07 pts as Saudi crackdown jitters roiled market sentiment. Heavyweights led by banks paced the day’s decline even as select counters bucked the trend to log hefty …

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Kuwait and Turkey sign bilateral cooperations – Joint Committee for Economic, Industrial and Technical Cooperation

KUWAIT CITY, Nov 5: In a joint collaboration organized by Founder and CEO Abdulmohsen Khaled Al Babtain of AB Capital and Ahmet Arslan of Arslan Group, welcomed the Deputy Prime Minister of the Republic of Turkey Mehmet Simsek to Kuwait and played host to the signing ceremony of the 10th …

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Kuwait bourse dips into red amid profit booking – Ooredoo tumbles 80 fils; KIPCO gains

KUWAIT CITY, Nov 5: Kuwait stocks swung sharply lower on Sunday tracking regional downtrend. The price index dived 80.26 points to 6,468 points amid spurt in selling in some of the heavyweights led by banks and telecom service providers. The KSX 15 benchmark dipped 11 pts to 954.31 pts and …

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Burgan Bank in early talks for $350m loan refinancing – New transaction could have three-year tenor

DUBAI, Nov 5, (RTRS): Kuwait’s Burgan Bank, the country’s third largest lender by assets, is in early discussions with banks for the refinancing of a $350 million loan due in December, sources familiar with the matter said on Sunday. The bank raised the original debt facility in 2015 with a …

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