Wednesday , March 21 2018


OPEC oil output jumps to 2017 high – Survey cites further recovery in supply from Libya

LONDON, July 31, (RTRS): OPEC oil output has risen this month by 90,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, led by a further recovery in supply from Libya, one of the countries exempt from a production-cutting deal. A dip in supply from Saudi Arabia …

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Consumer sector stabilizing following 2016 ‘slowdown’ – Confidence remains weak in 2017

The consumer sector is seen stabilizing so far in 2017, following significant moderation in the previous year. Despite robust household income and employment growth, most consumer indicators softened during 2016, including consumer confidence, which remained noticebly weak in 2017. However, growth in card spending has bounced back though it remains …

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KPC marketing on a new dangerous path – ‘Our oil should not be traded or gambled with’

The statement issued last week by Kuwait Petroleum Corporation (KPC) concerning establishment of a new marketing and trading company is the first step towards dealing directly with traders and becoming involved in open trading with the only source of our daily income. It is a complete deviation from our established …

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Wells in another scandal, this time in auto lending – Bank says scandal may have cost about 20,000 people their cars

NEW YORK, July 29, (AP): Scandal-plagued Wells Fargo is back in hot water for signing customers up for products that they didn’t need or want. This time it’s auto insurance, and the bank says it may have cost about 20,000 people their cars. San Francisco-based Wells Fargo acknowledged late Thursday …

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Samsung posts record-high profit, sales – S. Korea giant ends Intel’s reign in microchip

SEOUL, South Korea, July 29, (AP): Intel’s more than two decade reign as king of the silicon-based semiconductor ended Thursday when Samsung Electronics surpassed the US manufacturer to become the leading maker of the computer chips that are a 21st century staple much as oil was in the past. Samsung …

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KFH, Mastercard launch ‘Mobile Wallet Payment Service’ – First bank in MEA to introduce mobile wallet based on MDES platform

KUWAIT CITY, July 27: Kuwait Finance House (KFH), the world’s leading Islamic financial institution and Mastercard, a leading technology company in the global payments industry, have announced the launch of a ‘Mobile Wallet Payment Service’ for the bank’s Mastercard credit and prepaid cardholders. Group Chief Retail and Private Banking Officer …

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Kuwait snaps ‘winning’ spree, ends week in red – Humansoft Holding sinks 100 fils; NBK gains

KUWAIT CITY, July 27: Kuwait stocks pulled lower on Thursday to wind up the week on a dull note. The bourse dipped 40.45 pts in choppy trade to 6,805.31 points erasing most of the week’s gains as profit taking kicked in. The blue chips however closed narrowly mixed. The KSX …

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KIPCO posts KD 14.1 mln net profit for H1 2017 – ‘Core businesses delivering as projected’

KUWAIT CITY, July 27: KIPCO – the Kuwait Projects Company (Holding) – has announced a net profit of KD 14.1 million (US$ 46.5 million), or 7.76 fils per share (US$ 2.6 cents), for the first six months of 2017, compared to KD 28 million (US$ 92.4 million), or 18.30 fils …

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Kuwait gains in choppy trade; volume edges up – Mabanee Co rallies 14 fils; Zain flat

KUWAIT CITY, July 26: Kuwait stocks headed north on Wednesday extending its gains to fifth straight session buoyed by firming oil prices . The price index rose 13.23 points in choppy trade to 6,845.76 pts led by strong gains in select counters even as the heavyweights remained largely subdued. The …

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