Business

Sheikh Al-Jarrah bags ‘Islamic Banking Chairman of the Year’ Award for 2nd year

World Finance honors KIB Chairman KUWAIT CITY, July 8: Chairman of Kuwait International Bank (KIB), Sheikh Mohammed Jarrah Al-Sabah, added a new prestigious achievement to the Bank’s ever-growing roster of international awards and recognitions, after being named “Islamic Banking Chairman of the Year” for 2018 by World Finance; the premier …

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Kuwait crude price around $65-75 pb until end of ’18

KUWAIT, July 8, (KUNA): Kuwait crude price to remain in the range of $65-75 pb until the end of 2018, an oil expert said Sunday. In an interview with KUNA, oil expert Dr Abdul-Samie’ Behbehani projected the Brent crude prices at a range between $70-80 pb, pointing out that there …

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Kuwait’s oil price down

KUWAIT CITY, July 7, (Agencies): The price of Kuwaiti oil went down by 63 cents to $73.52 per barrel (pb) Friday, after being at $74.15 pb the day before, said Kuwait Petroleum Corporation (KPC) on Saturday. On the global level, oil prices varied on Friday as US crude went up …

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Global equity markets strengthen during Q2: KFIC

Kuwait’s All Share Index increases to 3.27 pct KUWAIT CITY, July 7: Kuwait Finance and Investment Company (KFIC) announced its report for June 2018 which discusses the status of local and international markets. International Economic Overview Global equity markets strengthened during the Quarter as the MSCI World Index increased by …

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Markaz organizes ‘Kuwait Banking in 2018 and Beyond’ seminar July 9

In collaboration with Kuwait Banking Association KUWAIT CITY, July 7: Continuing its valuable partnership with Kuwait Banking Association (KBA), which resulted in many successful events related to the financial industry, Kuwait Financial Centre “Markaz” will hold another seminar titled “Kuwait Banking in 2018 and Beyond” on 9 July 2018 at …

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KFAED sign KD 23,500,000 loan agreement with Republic of Iraq

Bid to finance building of modern schools KUWAIT CITY, July 5: A loan agreement was signed in Kuwait between the Republic of Iraq and Kuwait Fund for Arab Economic Development whereby the fund will extend a loan of Kuwaiti dinars twenty three million five hundred thousand (KD 23,500,000/-), equivalent to …

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KOTC to sell oil tankers in modernization of fleet

Kuwait in first-time ‘light oil’ export KUWAIT CITY, July 4: The Kuwaiti Oil Tankers Company (KOTC) has offered for sale two giant crude oil tankers after they were out of service due to their obsolescence and the company’s desire to fully modernize the fleet, reports Al- Anba daily. The daily …

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IATA refutes rumours

The International Air Transport Association (IATA) has denied the rumors circulating on media circles that Jazeera Airways is no longer a member of IATA or in IATA Operational Safety Audit (IOSA) program, reports Al-Anba daily. IATA, in a press statement, said Jazeera Airways has been a member of IATA since …

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KIA to adopt new strategy in ‘management’ of fund

Focus to be on short-term investment of assets KUWAIT CITY, July 4: Kuwait Investment Authority (KIA) will follow a new strategy in the management of cash of the State’s Public Reserve Fund through its focus during the coming period on short-term investment of assets and investments to facilitate withdrawals from …

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Kuwait’s crude oil exports to Japan down

Tokyo’s overall imports of oil grow 7.1 pct y/y TOKYO, July 3, (KUNA): Kuwait’s crude oil exports to Japan fell 8.9 percent in May from a year earlier to 6.30 million barrels, or 203,000 barrels per day (bpd), for the first decline in two months, government data showed. As Japan’s …

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