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Friday , November 16 2018

Business

Trump ‘requested’ Saudi oil support before Iran decision

Riyadh shifted position after call: sources DUBAI/WASHINGTON/LONDON, June 7, (RTRS): A day before US President Donald Trump withdrew from the Iran nuclear deal, one of his senior officials phoned Saudi Arabia to ask the world’s largest oil exporter to help keep prices stable if the decision disrupted supply. Riyadh, Tehran’s …

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Kuwait stocks close week on high note; volume slips

Humansoft surges 120 fils; Zain shines Kuwait City, June 7: Kuwait stocks end firmly higher on Thursday to close the week in positive territory. The All Share index climbed 19.55 points to close at 4,805.52 points even as some blue chips closed mixed. The Premier Market index jumped 28.81 points …

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$26.5b average annual net profit of Kuwaiti sovereign fund in 3 yrs

‘KIA makes net profit of KD 24.07b by investing state reserves’ KUWAIT CITY, June 6: A document obtained by the Al-Anba newspaper shows the Kuwait Investment Authority (KIA) has made a net profit of 24.07 billion dinars ($79.5 billion) by investing state reserves in the form of sovereign funds assets …

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A Kuwaiti creditor refuses Abraaj deal

Provisional liquidation DUBAI, June 6, (RTRS): A Kuwaiti creditor is refusing to agree to a debt settlement deal with Abraaj, which could push the private equity firm to seek provisional liquidation, three sources close to the matter said. The refusal by Kuwait’s Public Institution for Social Security (PIFSS) to join …

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Zain KSA refinances its SAR 5.9 billion existing Murabaha facility for five years

Agreement includes working capital facility of SAR 647 million for two years RIYADH, June 6: Mobile Telecommunications Company Saudi Arabia (Zain KSA) announces that it has successfully refinanced and extended the maturity date of its existing syndicated SAR 5.9 billion ($1.57 billion) Murabaha facility for five years. Additionally, the agreement …

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Kuwait’s Q1 credit growth weakest since 2012

Money supply growth dampened by lower-than-expected seasonal jump in deposits KUWAIT CITY, June 5: Credit growth finished the quarter at 1.9% y/y in March, its weakest performance since January 2012. Modest business lending, a slight softening in household borrowing, and ongoing deleveraging by non-bank financial companies weighed on overall growth. …

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Airlines adjusting fares, fleet as oil price increases

SYDNEY, June 4, (RTRS): Airlines are locking in fuel hedges, lowering capacity, raising fares and retiring older jets to cope with rising costs alongside the highest oil prices since 2014, industry executives say. The squeeze from fuel costs, which have risen much faster than ticket prices, poses a particular threat …

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‘Kuwaiti investments in Turkey are stable’ – ‘Growth figures optimistic’

KUWAIT CITY, June 4: As the Turkish lira continues to fall to high records against the dollar on fears of the ability of the Turkish central bank to fight inflation Kuwait’s investments in Turkey are “under surveillance,” reports Al-Anba daily quoting a government source. The source added that the Kuwaiti …

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‘Financial contracts for import of liquefied gas not signed’

KUWAIT CITY, June 3: Local financial contracts for the project related to import of liquefied gas affiliated to Kuwait Integrated Petroleum Industries Company (KIPIC) in Al- Zour area have not been signed due to delay in granting approvals by the Central Bank of Kuwait to some local banks that are …

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Zain launches 1st integrated 5G network in Kuwait

‘Fifth generation technologies will contribute to digital transformation & prosperity of Kuwait’ KUWAIT CITY, June 3: Zain, the largest telecommunications company in Kuwait, has launched the first integrated 5G technology on its network, which will provide high-speed communications with high efficiency. Fifth-generation technology represents a quantum leap in the operational …

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