Business

US third quarter economic growth fastest in 3 years – Wholesale and retail inventories drop in Oct

WASHINGTON, Nov 29, (Agencies): The US economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, as increases in business investment in inventories and equipment offset a moderation in consumer spending. Gross domestic product expanded at a 3.3 percent annual rate in the …

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EQUATE highlights Gulf’s role as vital contributor to global petchem industry – ‘Petrochemical producers contribute over 142 mln tons annually’: CEO

DUBAI, Nov 28: EQUATE Group, a global producer of petrochemicals, sponsored the 12th annual Gulf Petrochemicals & Chemicals Association (GPCA) Forum to support the pioneering role of the Arabian Gulf’s industrial sector. The forum includes the participation of industrial leaders and professionals from across the globe. EQUATE’s President & CEO, …

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Kuwait stocks index dips as trading turns anemic – Markaz sheds 15 fils; KFH gains

KUWAIT CITY, Nov 28: Kuwait stocks swung lower on Tuesday after treading water in the previous session. The bourse dipped 44.65 pts to 6,210.02 points as sentiment turned sour amid anemic trading vs Banks were mostly muted while other heavyweights closed narrowly mixed. The KSX 15 index ticked 1.98 points …

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KFH set to participate in World Islamic Banking Conference – Confab to be held in Bahrain from December 4-6

KUWAIT CITY, Nov 28: Kuwait Finance House (KFH) to participate in the 24th Annual World Islamic Banking Conference (WIBC) themed “Drivers of Economic Growth and Risks: Policy Makers & Regulators” to be held in Bahrain from Dec 4-6. KFH’s participation as a platinum strategic partner for the 3rd consecutive year …

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Improved earnings still signalling some softness – Kuwaiti companies continue to post rise in profits for first nine months of 2017

Listed Kuwaiti companies continued to post a notable rise in profits for the first nine months of 2017, though softness in business activity has affected revenue growth. The financial sector was the main contributor to the solid growth, with investment income benefiting from the stock market rally. Although results in …

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Kuwait bourse treads water in volatile trade – Americana tumbles 299 fils; Ooredoo gains

KUWAIT CITY, Nov 27: Kuwait stocks trod water on Monday following last session’s upswing. The price index edged 2 pts lower in volatile trade to 6,254.67 pts amid mixed sentiment. The banking majors saw a slight pullback while some of the insurance shares soared. The KSX 15 benchmark dipped 9.1 …

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Efforts to hurt Qatar riyal could backfire on region – ‘Arab states trying to destabilise riyal’

DUBAI, Nov 27, (RTRS): Some Arab states are trying to destabilise Qatar’s riyal but efforts to drive down its value could backfire by hurting other dollar-linked currencies in the region, a Qatari central banker said. Khalid Alkhater, currently in Britain on leave from the central bank, was commenting on moves …

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AUB holds seminar for Wealth Management customers – UK realty market in focus

KUWAIT CITY, Nov 26: Ahli United Bank recently held a major seminar at Le Notre Restaurant Kuwait, designed to brief its Private Banking & Wealth Management customers on the latest developments in the UK real estate market in light of the current market circumstances. The seminar addressed three major subjects: …

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Kuwait stocks kick off week with modest rise – KFH rallies 11 fils; Ooredoo sinks

KUWAIT CITY, Nov 26: Kuwait stocks headed north on Sunday as it kicked off the week on a firm note. The price index climbed 17.3 pts in lackluster trade to 6,256.67 points paced by banks and other heavyweights even as other counters remained mostly subdued. The KSE 15 gauge rose …

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Iraq offers Kuwait nine oil & gas blocks for exploration – Baghdad to build new pipeline to Turkey

BAGHDAD, Nov 26, (Agencies): Iraq will invite foreign energy firms to bid for the exploration and development of nine new oil and gas blocks bordering Iran and Kuwait, the oil ministry said in a statement on Sunday. Iraq is to hold a press conference on Monday to announce details of …

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