Business

Carrier urges UN action against Gulf blockade – Gulf crisis threatens Qatar Airways transit business

DUBAI, June 12, (AFP): Qatar Airways has made Doha a global hub in just a few years, but barring it from Gulf states’ airspace threatens its position as a major transcontinental carrier, experts say. Along with its Gulf peers — Dubai’s Emirates Airlines and Abu Dhabi’s Etihad — Qatar’s national …

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Oil prices remain in the doldrums

Surveying the oil markets at the start of May, when prices were under pressure and ranging between $49-$51 per barrel (bbl), OPEC ministers could be forgiven for believing that a decision to extend their 6-month production cut agreement for an additional 9 months, to March 2018, would be just the …

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Kuwait ekes ‘modest’ gains in volatile trade – ABK rallies 35 fils; Ooredoo dips

KUWAIT CITY, June 12:  Kuwait stocks chalked a modest rebound on Monday following 2-day retreat. The price index climbed 20.18 points in volatile trade to 6,774.72 points helped by a buying uptick in select counters even as the broader sentiment remained mixed. The KSX 15 gauge was little changed at …

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Huawei trains 33 Kuwaiti graduates, hires 8 – Part of Huawei Technologies Kuwait’s commitment to the country

KUWAIT CITY, June 11: Huawei Technologies, one of the leading global ICT solutions provider, recently held a congratulatory ceremony to mark the successful completion of the second season of its annual Graduate Training Program.  Designed to empower young Kuwaiti talents by facilitating their transition into the job market, Huawei’s one-year …

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Kuwait bourse kicks off week on dull note – UPAC tumbles 90 fils; ALAFCO gains

KUWAIT CITY, June 11: Kuwait stocks pulled lower on Sunday extending last session’s losses. The bourse dropped 28.88 pts in choppy trade to 6,754.54 points even as sentiment remained lackluster amid anemic volume. The KSX 15 gauge dipped 6.55 pts to 900.22 points while weighted index fell 2.3 points to …

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Qatar Petroleum says unaffected by Gulf crisis – Gas giant says mobilised resources to mitigate actions that could disrupt supplies

DOHA, June 11, (AFP): Energy giant Qatar Petroleum said in a statement on Saturday that it was “business as usual” despite a spiralling diplomatic crisis involving Doha and its Gulf neighbours. In an attempt to reassure customers, the state-run company said it had “mobilised all available resources” to mitigate any …

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Energy exports a lifeline for boycott-hit Qatar – Economic blockade threatening food imports, hitting aviation sector hard

KUWAIT CITY, June 10, (AFP): A Saudi-led diplomatic and economic blockade against Qatar may threaten food imports, but the tiny emirate still has a lifeline through its gas and oil exports, experts said Tuesday. Saudi Arabia, the UAE, Egypt, Bahrain and Yemen have suspended all diplomatic ties to gas-rich Qatar, …

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Oil markets in need of deeper production cuts – Current rate ineffective, not workable

Immediately after the OPEC and non-OPEC producers agreed to extend the period of current oil production cuts by another three months until the end of the first quarter of next year, the oil prices hit a low of below $50 per barrel. The main reason for this unexpected decline is …

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Crude prices fall stalls despite inventories glut – Gold retreats 1 percent

LONDON, June 10, (RTRS): Oil prices steadied on Friday after steep falls earlier in the week under pressure from widespread evidence of a fuel glut despite efforts led by OPEC to tighten the market. Brent crude oil was up 5 cents at $47.91 a barrel by 1315 GMT, but still …

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ABCK announces newly elected BoDs – Boeing, KGL and Marafie sponsor business community event

KUWAIT CITY, June 8: The American Business Council Kuwait (ABCK) held elections for the Board of Directions at the monthly meeting that was held at the Embassy of the United States. Dr Juliet Dinkha, Chair of ABCK, welcomed the guests to the Election Night and recapped for the guests how …

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