Friday , October 20 2017

Business

NBK posts KD 295.2 mln net profit for 2016 – Board proposes cash dividend of 30 fils per share, 5% bonus shares

KUWAIT CITY, Jan 23: National Bank of Kuwait (NBK) reported net profits of KD 295.2 million ($964.5 million) for the year 2016 compared with KD 282.2 million ($921.9 million) in 2015, growing 4.6 percent year-on-year. The net profit in 2015 included an accounting gain in respect of the Group exiting …

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International Invention Fair honors Zain – Firm recognized for its strategic partnership since event’s inception

KUWAIT CITY, Jan 23: The organizational committee of the International Invention Fair Middle East honored Zain, the leading telecommunications company in Kuwait, in recognition of the company’s strategic partnership of the event’s 9th edition. The event was held under the patronage of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber …

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Kuwait’s bull run slows as volume breaches 1,000mn – NBK gains 20 fils; Zain pulls back

KUWAIT CITY, Jan 23: Kuwait bourse’s bull run slowed on Monday amid moderate profit taking. The price index climbed 37.84 pts in volatile trade to 6679.62 pts even as the liquidity breached the 1000 million mark  for the first time since May, 2013. The KSX 15 benchmark rose 7.9 pts …

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Kuwait soars 206.03 pts in broad rally; volume up – Biggest single day gain in over two years

KUWAIT CITY, Jan 22: Kuwait’s bourse soared in a broad rally on Sunday led by financial shares. The price index surged 206.03 pts — to 6,641.78 points — the biggest single day gain in 23 months. The market mood was markedly bullish even as liquidity breached fresh multi-year highs. The …

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Kuwait outperforms in strong Gulf – Tax fears continue to hit Egypt

DUBAI, Jan 22, (RTRS): Share prices in Kuwait jumped in very heavy trade on Sunday, the top performing market in a strong Gulf region, while tax fears continued to weigh on prices in Egypt. The Kuwaiti market index surged 3.2 percent, its biggest rise in more than two years, to …

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KFH welcomes CBK’s Sharia Supervisory Governance for banks – Regulations instill confidence in Islamic banking: Duwaishan

KUWAIT CITY, Jan 22: Kuwait Finance House (KFH) has welcomed the Central Bank of Kuwait (CBK)’s instructions and regulations regarding the role of Sharia Supervisory Boards in Islamic banks, including the latest instructions on “Shariah Supervisory Governance for Kuwaiti Islamic Banks. Islamic Banks would be given until December 31st, 2017 …

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‘Ill advice’ from the IMF; leave Kuwait SWF alone – Fund belongs to future generations

International Monetary Fund (IMF), in its publication on Kuwait last week, issued an advice for Kuwait to use its Sovereign Wealth Fund (SWF) for handling the current budget deficit. However, such an advice is an ill one. IMF should know that every penny of that fund belongs only to our …

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Bourse posts record gains; volume soars

Boursa Kuwait ended last week in the green zone. The Price Index closed at 6,435.75 points, up by 5.37% from the week before closing, the Weighted Index increased by 4.12% after closing at 408.22 points, whereas the KSX-15 Index closed at 944.85 points up by 3.98%. Furthermore, the week’s average …

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OPEC output monitoring panel meets Sunday – Meeting chaired by Kuwait oil minister

VIENNA, Jan 21, (KUNA): OPEC’s committee tasked with implementing the recent accord on slashing oil output will hold on Sunday the first session nearly two weeks after the agreement went into effect to trim the production by 1.8 million barrels per day. The meeting of the commission, chaired by Kuwait’s …

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