Saturday , November 25 2017

Business

Kuwait index continues to slide; volume swells – Americana sinks 120 fils; Ooredoo gains

KUWAIT CITY, Nov 7: Kuwait stocks continued to slide on Tuesday extending the week’s slump. The bourse tumbled 176.06 pts to 6,143.01 points tracking region’s downswing triggered by Saudi crackdown. The blue chips led by banks continued to bleed as panic gripped the trading floor. The KSX 15 slid 43.14 …

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Qatar buys 9.6% stake in Cathay Pacific

Qatar Airways has bought a stake in Cathay Pacific, it announced Monday, giving the Doha-based airline a toehold in the potentially lucrative Asian aviation market. The state-owned Gulf carrier said it had acquired a 9.6 percent stake in Cathay, which would make it the third largest shareholder in the Hong …

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Al Mazaya posts KD 6.87mn Q3 net profit; EPS 11.04 fils – Co maintaining balanced developmental drive, progressive growth in sales and lease operations: Al Saqabi

KUWAIT CITY, Nov 6: Al Mazaya Holding has announced its financial statements for Q3 2017, posting KD 6.87 million in net profits, against KD 6.84 million for the corresponding period in 2016. Earnings per share reached 11.04 fils in Q3 against 11.01 fils for the same period last year. Commenting …

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Kuwait slumps on Saudi jitters; volume increases – NBK dips 34 fils; Ooredoo gains

KUWAIT CITY, Nov 6: Kuwait stocks sank on Monday extending last session’s losses. The price index tumbled 149.09 points amid broad sell-off to 6,319.07 pts as Saudi crackdown jitters roiled market sentiment. Heavyweights led by banks paced the day’s decline even as select counters bucked the trend to log hefty …

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Kuwait and Turkey sign bilateral cooperations – Joint Committee for Economic, Industrial and Technical Cooperation

KUWAIT CITY, Nov 5: In a joint collaboration organized by Founder and CEO Abdulmohsen Khaled Al Babtain of AB Capital and Ahmet Arslan of Arslan Group, welcomed the Deputy Prime Minister of the Republic of Turkey Mehmet Simsek to Kuwait and played host to the signing ceremony of the 10th …

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Kuwait bourse dips into red amid profit booking – Ooredoo tumbles 80 fils; KIPCO gains

KUWAIT CITY, Nov 5: Kuwait stocks swung sharply lower on Sunday tracking regional downtrend. The price index dived 80.26 points to 6,468 points amid spurt in selling in some of the heavyweights led by banks and telecom service providers. The KSX 15 benchmark dipped 11 pts to 954.31 pts and …

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Burgan Bank in early talks for $350m loan refinancing – New transaction could have three-year tenor

DUBAI, Nov 5, (RTRS): Kuwait’s Burgan Bank, the country’s third largest lender by assets, is in early discussions with banks for the refinancing of a $350 million loan due in December, sources familiar with the matter said on Sunday. The bank raised the original debt facility in 2015 with a …

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Zain celebrates the launch of iPhone X at the Avenues – Huge crowds participate in raffle draws with hundreds of valuable prizes

KUWAIT CITY, Nov 4: Zain, the leading telecommunications company in Kuwait, held a special event at the Avenues mall in celebration of the official launch of the all-new iPhone X. The event was held on Nov 3 for ten consecutive hours, from 12:00 pm to 10:00 pm, and witnessed overwhelming …

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Russia stretches its oil diplomacy – Kremlin influence admired

By utilizing its giant oil companies to gain access to oil and gas in the producing countries, either through joint ventures, or direct cash and loans, the influence of Russia is respected and admired. It began last year when OPEC cut crude production by strictly adhering to the terms of …

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Kuwait’s PIC signs contract with US Jacobs Engineering – Deal for polypropylene plant in Canada

KHOBAR, Saudi Arabia, Nov 4, (RTRS): Kuwait’s Petrochemical Industries Co (PIC) has signed a contract with US firm Jacobs Engineering to carry out engineering and design work for a planned polypropylene plant it co-owns in Canada, Kuwait’s state news agency reported on Saturday. Kuwait and its neighbours including Saudi Arabia …

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