Tuesday , October 24 2017

Business

Omani budget airline SalamAir takes off

Omani budget carrier SalamAir launched operations on Monday, becoming the latest Gulf airline competing for the region’s low-cost travel market. The airline said it began operations with a domestic flight from the southwestern city of Salalah to the capital Muscat. In addition to the domestic market, SalamAir will fly to …

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Kuwait bourse retreats after month-long rally – KIPCO falls 10 fils; Ooredoo gains

KUWAIT CITY, Jan 30: Kuwait stocks retreated sharply on Monday stemming the month-long rally which propelled the price index and market liquidity to multi-year highs. The bourse slumped 104.13 points to 6,839.11 pts amid broad profit taking after the long wnning spree. The KSX 15 gauge dived 12.99 pts to …

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Hyundai Motor unveils vision for ‘future mobility’ – Strategy includes autonomous driving and hyper-connected car platform

KUWAIT CITY, Jan 29: Hyundai Motor believes the next generation of convergent technologies will link cars to customer’s lives, through intelligent autonomous driving, smart hyper-connectivity solutions, and innovations to promote wellness in mobility. Commenting on the company’s forthcoming direction, Mike Song, Hyundai’s Head of Operations for Africa and the Middle …

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Kuwait picks momentum; KSX 15 crosses 1,000 pts – KFH gains 20 fils; Ooredoo dips

KUWAIT CITY, Jan 29: Kuwait bourse rally picked up momentum again after losing some steam in the last session. The price index soared 90.94 pts in a broad advance to 6,934.24 pts led by some of the heavyweights. The market sentiment was markedly positive even as investors await more corporate …

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India’s government looks to ease pain from cash crunch in budget – Govt expected to ramp up spending

NEW DELHI, Jan 29, (AFP): India’s government is expected to ramp up spending in its latest budget this week, seeking to ease the pain from a ban on high-value banknotes that slammed the brakes on the world’s fastest-growing major economy. Ahead of a series of elections, Finance Minister Arun Jaitley …

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VIVA records KD 40 mln net profit for 2016 – Revenues hit KD 279 million; board proposes cash dividend of 10 fils per share

KUWAIT CITY,  Jan 28: VIVA, Kuwait’s fastest-growing and most developed telecom operator, announced the financial results for the year ended on 31 December 2016; whereby VIVA’s revenue grew to reach KWD 279 million; whereas the net profit in 2016 reached KWD 40 million. VIVA achieved these results due to the …

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Bourse continues its positive performance

Boursa Kuwait ended last week in the green zone. The Price Index closed at 6,852.30 points, up by 6.47% from the week before closing, the Weighted Index increased by 4.95% after closing at 428.43 points, whereas the KSX-15 Index closed at 987.70 points up by 4.54%. Furthermore, the week’s average …

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Oil outlook: good news so far – Govts must find alternative incomes

The recent publication of BP on world energy demand of 2035-2040 is a promising one for conventional oil and its producers, that oil, gas and coal will continue to be the drivers of energy, representing 75 percent out of the 80 percent forecasted in 2015. However, this positive conclusion comes …

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Kuwait’s bourse rally slackens; volume up – Gulf Bank slips 10 fils; Portland Cement gains

KUWAIT CITY, Jan 26: Kuwait bourse’s rally lost steam on Thursday as it wound up the week with modest gains. The price index climbed 33.21 pts in volatile trade to 6,852.3 pts even as profit taking dragged some of the heavyweights even as some of the mid and small caps …

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Outlook ‘neutral’ despite Kuwait’s bull run

Kuwait Financial Centre “Markaz” report on GCC stock market outlook 2017 has stated that Boursa Kuwait has started this year on an explosive note. The much followed price index gained 16 percent while the weighted index gained by 11 percent as compared to 1.4 percent for MSCI GCC index and …

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