Sunday , October 21 2018

Business

Ali Alghanim & Sons becomes exclusive distributor for Sumitomo tires in Kuwait

After amicable business transfer from Al-Buhaira company KUWAIT CITY, June 12: Ali Alghanim & Sons Automotive Company, the exclusive importer of Land Rover, BMW, MINI, Rolls-Royce and McLaren vehicles in Kuwait, announced Monday that it has signed an exclusive distributorship agreement with Sumitomo Rubber Middle East and became the official …

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World stocks, dollar steady after US-North Korea summit

Oil eases; gold locked below $1,300 as mkt braces for Fed meeting NEW YORK, June 12, (Agencies): World stock markets were little changed on Tuesday while the US dollar fell slightly against an index of major currencies, as investors brushed aside a long-awaited US-North Korea summit aimed at denuclearizing the …

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Oil prices stall as hedge funds take profits

John Kemp is a Reuters market analyst. The views expressed are his own. — Editor By John Kemp Investors continue to reduce their bullish position in crude oil futures and options, after a blistering rally over the last year, but now the profit-taking has spread to refined fuels such as …

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Kuwait’s real estate sales strong in Q1

Sales driven by higher volumes and rise in average deal size; home and land prices continue to ease KUWAIT CITY, June 11: The first quarter of 2018 saw a pick-up in real estate activity, driven in particular by strong sales in March. Sales reached KD 767 million in 1Q18, 45% …

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NBK Capital, IHC announce closing of private placement of 35% of capital

Oversubscription exceeds 230%, number of investors soar past 1,000: Watani Investment Co KUWAIT CITY, June 11: Watani Investment Company (NBK Capital) and Integrated Holding Company (IHC), the largest crane operator in the Middle East focused on the oil, gas and energy sectors, announced the successful closing of the private placement …

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Trump’s tweets spew ire on NATO allies, Trudeau

‘Fair trade, fool trade’ SINGAPORE, June 11, (RTRS): US President Donald Trump fired off a volley of tweets on Monday venting anger on NATO allies, the European Union and Canadian Prime Minister Justin Trudeau in the wake of a divisive G7 meeting over the weekend. The escalating clash over trade …

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KAMCO appoints Alvarez & Marsal as integration advisor

KAMCO Investment Company (“KAMCO”), a leading investment with one of the largest AUMs in the region, appointed the Middle East office of renowned global professional services firm, Alvarez & Marsal, as the integration advisor for the acquisition of a majority stake in Global Investment House (“Global”). KAMCO assigned Alvarez & …

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US blames Canada for G7 summit fiasco – ‘Trudeau stabbed us in the back’

WASHINGTON, June 10, (AFP): The US blamed Canada on Sunday for the disastrous ending to the G7 summit, saying Prime Minister Justin Trudeau “stabbed us in the back,” while American allies held Washington responsible. Just minutes after a joint communique, approved by the leaders of the Group of Seven allies, …

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Congratulation Kuwait for super light crude oil

Great news for industry after many years of waiting and explorations Finally 72 years after the first cargo shipment of Kuwait Export Crude (KEC), Kuwait will begin exporting its super light crude oil with 48 API to the world from the end of this month. So far, Kuwait was producing …

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Tehran slams US for seeking Saudi oil output hike

OPEC likely to reject Iran request for discussion of sanctions DUBAI, June 9, (RTRS): OPEC is likely to reject a request by Iran to discuss US sanctions against Tehran at this month’s meeting of the oil producer group, a source familiar with the matter told Reuters. Iran’s OPEC governor Hossein …

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