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Tuesday , November 13 2018

Business

Trump’s tariffs announcement poses headache for Fed chief – Markets still betting on US interest rate hike in March

WASHINGTON, March 3, (RTRS): The Federal Reserve digested the Trump administration’s massive tax cuts and plan to boost spending with barely a hiccup, but Washington’s sudden push for steep tariffs on steel and aluminum imports could saddle the US central bank with the worst of both worlds – rising inflation …

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‘Classification of Kuwait likely to fall if bills are delayed’

KUWAIT CITY, March 1: The World Bank has confirmed to the Ministry of Commerce and Industry that the classification of Kuwait is likely to decline if the necessary economic bills are delayed, reports Al-Rai daily. At the forefront of necessary reforms are three insolvency bills, which include voluntary restructuring of …

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Zain Group, Ericsson create roadmap to 5G – Co-operation will enrich digital lifestyle of customers: Al Kharafi

BARCELONA, Feb 28: Zain Group and Ericsson (NASDAQ: ERIC) have announced they have signed a Memorandum of Understanding (MoU) to jointly develop and test selected 5G and Internet of Things (IoT) cases. The MoU, signed during Mobile World Congress 2018 in Barcelona, demonstrates the commitment of both companies to bringing …

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Oil prices to edge higher in 2018: poll – OPEC cuts help offset US supply growth

LONDON, Feb 28, (RTRS): Oil analysts expect the price of crude to rise steadily this year but remain in a tight band dictated by US shale output growth on one side and OPEC supply restraint on the other, a Reuters poll showed on Wednesday. The survey of 37 economists and …

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EU’s ME-Gulf working group to visit Kuwait – Move to attract youth to private businesses

BRUSSELS, Feb 28, (Agencies): The European Union’s Middle East-Gulf (MOG) Working Party will pay its first visit to Kuwait in early March to strengthen cooperation and relations between Kuwait and the EU. Kuwait’s ambassador to the EU, NATO, Belgium and Luxembourg, Jassem Al-Budaiwi, held a meeting with MOG Tuesday afternoon …

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5G wireless services race heats up – First commercial deployments expected at end of year

BARCELONA, Feb 27, (AFP): The race to bring super-fast 5G wireless services to market is heating up with the first commercial deployments of the much-anticipated technology expected at the end of the year. Talk about 5G’s potential to pave the way to a world of self-driving cars, lightening-fast video downloads …

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OPEC chief expects 2018 oil market balance – Producers continue to trim output

ABU DHABI, Feb 27, (AFP): OPEC chief Suhail al-Mazrouei said Tuesday he expected the global oil market to be balanced this year, as producers continue to trim production following a 2014 market crash. “I am optimistic that this year, we will achieve a market balance” between supply and demand, Mazrouei, …

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$5 billion lawsuit filed against alleged bitcoin creator

NEW YORK (AP) — The family of a dead programmer has filed a $5 billion dollar lawsuit against a man who claimed to be the creator of bitcoin. The family of Dave Kleiman filed their lawsuit in federal court in Florida against Australian businessman Craig Wright, who claimed in 2016 …

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Kuwait equity market ends week on mixed note –

Boursa Kuwait ended last week with mixed performance. The Price Index closed at 6,756.54 points, down by 0.11% from the week before closing, the Weighted Index decreased by 0.13% after closing at 410.14 points, whereas the KSX-15 Index closed at 948.62 points up by 0.23%.Furthermore, the week’s average daily turnover …

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Saudi January inflation jumps to 3.0 pct on VAT, gasoline price hike

DUBAI, Feb 25 (Reuters) – Saudi Arabia’s annual consumer price inflation rate jumped to 3.0 percent in January after the government introduced a 5 percent value-added tax and hiked domestic gasoline prices, official data showed on Sunday. The statistics agency changed the base year for the consumer price index to …

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