Thursday , October 19 2017

Business

‘Riyadh Metro’ on track despite cuts – ‘We are progressing’

RIYADH, Jan 9, (AFP): A major contractor on Riyadh’s $22.5 billion urban rail and bus system said Monday the project is on track despite Saudi government cuts to infrastructure last year after oil revenues fell. The Metro is the biggest infrastructure project in the history of the Saudi capital. “We …

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Iran takes ownership of first jet under sanctions deal

Airbus said on Sunday Iran’s state airline IranAir had accepted its first new jet, marking a key step in opening up trade under a nuclear sanctions deal between Iran and major powers. The Airbus A321 jetliner has been painted in IranAir livery and is expected to be delivered later this …

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Kuwait index rallies 65.3 pts, volume up – Americana gains 20 fils; KFH flat

KUWAIT CITY, Jan 8: Kuwait stocks logged solid gains amid brisk trading on Sunday following an impressive performance in the previous week. The bourse rallied 65.3 pts in a broad rally to close at 5896.49 pts as sentiment turned bullish on firming oil prices. The KSX 15 gauge rose 5.14 …

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US oil industry coming back cautiously – Sector pivots from brutal 2-year slump caused by crashing oil prices

NEW YORK, Jan 8, (AFP): The US oil industry is feeling guarded optimism going into 2017 as it pivots from a brutal two-year slump prompted by crashing crude prices. As the new year kicks off, industry insiders describe a tentative recovery, with some low-cost drilling basins starting to pick up …

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Kuwait cuts January crude oil output to agreed OPEC target – Iran capitalises on production cuts to sell millions of barrels

DUBAI, Jan 7, (RTRS): Gulf OPEC member Kuwait has reduced oil production in January to around 2.707 million barrels per day, meeting its output target under an OPEC supply cut agreement, a Kuwaiti oil official said on Friday. It joins Saudi Arabia, the world’s top oil exporter and biggest OPEC …

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Testing time ahead for strong oil prices – Focus on output compliance

One question that is often asked since the issuance of OPEC’s decision last November in Vienna is whether the oil producing countries will honor their commitment to reduce oil production from beginning of this month. From now on, the clock will be ticking. Oil consumers will be observing and hoping …

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Bourse ends first week’s trading of 2017 in green

Boursa Kuwait ended last week in the green zone. The Price Index closed at 5,831.19 points, up by 1.45% from the week before closing, the Weighted Index increased by 1.25% after closing at 384.86 points, whereas the KSX-15 Index closed at 898.24 points up by 1.49%. Furthermore, the week’s average …

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AUB holds seminar on UK property tax – Experienced consultants address the customers

KUWAIT CITY, Jan 4: In line with its commitment to provide excellent private banking services, Ahli United Bank (AUB) has recently held a seminar joining the Bank’s Private Banking customers with London’s top-notch property and legal consultants to discuss the latest updates that could affect customers’ current and future property …

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Kuwait stocks resume uptrend; volume swells – Ooredoo gains 20 fils; Americana drops

KUWAIT CITY, Jan 4: Kuwait stocks resumed its uptrend on Wednesday after pausing in the last session. The price index climbed 12.81 pts in volatile trade to 5,787.84 points helped by select blue chips and mid-caps even as banks remained muted. The KSX 15 benchmark climbed 4.73 points to 898 …

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Kuwait Petroleum Corp committed to OPEC crude oil output cut: KUNA – Barkindo to visit Kuwait for crude production talks

DUBAI, Jan 4, (Agencies): State-owned Kuwait Petroleum Corp (KPC) said on Wednesday it was committed to an oil output cut agreed by the Organization of Petroleum Exporting Countries at a meeting in Vienna in November, Kuwait’s state news agency KUNA reported. KPC said in a statement it had notified its …

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