Wednesday , September 19 2018

Business

Kuwaiti official predicts oil prices near $70 per barrel – OPEC deal to cut output cited

KUWAIT CITY, April 2, (KUNA): The acting undersecretary of Kuwait’s Ministry of Oil Sheikh Talal Al-Sabah has foreboded that the price of a barrel of oil in the global market could hit $70, citing a “historic” OPEC deal to limit output. Speaking to the press as the ministry unveiled its …

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Market shake-up deepens in Kuwait in a move to attract stock investors – Boursa Kuwait announces second phase of market development

KUWAIT CITY, April 1: Boursa Kuwait announces that the second phase of market development, which encompasses transformational changes such as a three-tiered, segmented market, the introduction of new market-capitalized indices and circuit breakers on securities and indices to curb volatility, as well as entirely new listing requirements has begun on …

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AUB AGM approves cash dividend of 13 fils – Bank gives nod to bonus shares of 5%; AGM held with 92.851% attendance

KUWAIT CITY, April 1: Chairman of Ahli United Bank, Dr  Anwar Al Mudhaf assured that “In 2017, Ahli United Bank has witnessed a 10.4% growth in net profits which reached KD 44.5 million (2016: KD 40.3 million) thanks to the strengthening of our core earnings, achieving a net finance income …

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Iraq to award new oil contracts on April 15

BAGHDAD, April 1 (Reuters) – Iraq plans to award oil and gas exploration and development contracts in 11 new blocks on April 15, oil ministry spokemsan Asim Jihad said on Sunday. Bidding documents will be made available to oil companies planning to make offers on April 13, he told Reuters. …

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ALSAYER honors team efforts towards better customer satisfaction – Company advances focus on customer service one by one

KUWAIT CITY, March 31: ALSAYER Holding, one of the leading conglomerates in the region recently held an event to honor outstanding customer service efforts across its non-trading and trading business units including Mohamed Naser ALSAYER for Toyota and Lexus Sales Service and Parts Division, Bahrah Trading Company for HINO, Bobcat, …

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Shanghai futures creating own oil price benchmark – Faces long shot to get recognition

A third crude oil price emerged last week from China, creating a third price indication in the oil market that could be a dominating force in the coming years like Brent crude oil and USA West Texas crude oil price indicators in deciding the final price for the end consumers. Today …

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Commerical bank of Kuwait holds its AGM – CBK now among the best local banks in profitability ratios; logs KD 55.4mn in 2017

Message from Ali Mousa Al Mousa, Chairman of Commercial Bank of Kuwait during the General Assembly Meeting In the name of Allah the Most Gracious, the Most Merciful Our valued shareholders, I have the pleasure to present today a significant turnaround in Commercial Bank of Kuwait’s performance which is crowned by …

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Philippine banks on alert after cyber attack at Malaysia central bank

MANILA, March 31 (Reuters) – The Philippine central bank has sounded an alert to local financial institutions following a cyber attack at the Malaysian central bank, in which hackers sought to steal money using fraudulent wire transfers, its governor said on Saturday. Bank Negara Malaysia (BNM) has said no funds …

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KFAED signs KD 23 million loan agreements with Dhaka, Djibouti – Deals to finance development projects

KUWAIT CITY, March 28, (KUNA): Kuwait Fund for Arab Economic Development (KFAED) signed two loan agreements with Bangladesh and Djibouti, totaling KD 23 million (about $78 million), for financing development projects in the two countries. The project in Bangladesh estimated at KD 15 million (about $51 million) aims to contribute …

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H’wood hopes to cash in as Saudi Arabia lifts ban on theaters – ME exhibitor Cinemacity to enter Saudi Arabia theater-building derby

LOS ANGELES, March 28, (RTRS): Hollywood is falling head over heels for the Kingdom of Saudi Arabia. The Middle Eastern nation is lifting a 35-year old ban on movie theaters, prompting a mad dash by both US and international exhibitors eager to be among the first to build cinemas in …

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