Monday , October 23 2017

Business

Kuwait ends ‘slightly’ lower; volume recedes – Zain sheds 20 fils; KIPCO flat

KUWAIT CITY, Oct 30: Kuwait stocks sagged on Sunday after ending previous week in red. The price index pared back steeper early losses to close 7.03 pts lower at 5390.82 points weighed by some of the banks and other blue chips even as weak regional cues amid retreating oil prices …

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VIVA posts KD 211 mln revenue for 9M – Customers’ base reaches 2.4 million by end of Sept 2016

KUWAIT CITY, Oct 29: VIVA, Kuwait’s fastest-growing and most developed telecom operator, announced the financial results for the nine-month period ended on 30 September 2016, whereby VIVA’s revenues grew by 3% to reach KD 211 million compared to the same period in 2015. VIVA achieved these results thanks to the …

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OPEC still on top despite collapse of crude oil prices – Cartel gaining more market shares

Despite the collapse of oil prices, OPEC remains strong and is gaining more market shares and higher volumes than ever. This is a direct effect of OPEC’s famous decision issued on November 2014 to let its members freely produce as much as each can in order to confront the increased …

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Boursa posts gains; market cap soars 3.31%

Boursa Kuwait ended last week in the green zone. The Price Index closed at 5,397.85 points, up by 1.44% from the week before closing, the Weighted Index increased by 3.39% after closing at 357.86 points, whereas the KSX-15 Index closed at 841.13 points up by 4.49%. Furthermore, last week’s average …

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Real GDP forecast to grow by 2.1% in ‘16

Real GDP growth in the UAE is forecast to soften from an estimated 3.8 percent in 2015 to around 2.1 percent in 2016, on the back of a slowdown in the oil sector and a moderation in non-oil sector activity. Depressed global energy prices have capped gains in the oil …

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Liquidity surge helps boost KSE indices – Market cap rises 3.4 pct to KD 24.73 bln

The KSE Indices witnessed a positive week as most indices increased this week. The KSE price index closed at 5,397.85 an increase of 1.44% up 76.39 points compared to the previous week. As the MUDX witnessed a similar increase this week of 2.06% to close at 536.86 for the week. …

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Millennials and demand drive Ford’s continued SUV lineup growth – Four all-new nameplates due within five years

KUWAIT CITY, Oct 27: Ford has a long history of SUV leadership, with all-time favourite nameplates such as Escape, Edge, Explorer and Expedition setting the benchmarks for their segments since their debut. Having sold more than 1.5 million SUVs globally last year and plans to introduce four all-new SUV’s in …

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QPIC’s net profit jumps 59% to KD 10.49m in H1 – EPS at 10.08 fils; investment in associates up 10%

KUWAIT CITY, Oct 27: QPIC — Qurain Petroche-mical Industries Company (QPIC) — announced a net profit of KD 10.49 million (US$ 34.74 million) for the first half of the financial year 2016/2017. This compares favorably to a net profit of KD 6.61 million (US$ 21.89 million) posted during the same …

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Al Habtoor holds talks with President of US-UAE Business Council

Al Habtoor Group Chairman Khalaf Ahmad Al Habtoor paid a visit to the US-UAE Business Council in Washington DC on Oct 25. Al Habtoor met with Danny Sebright, President of the US-UAE Business Council and several other members of the Council. They talked about the upcoming US presidential election. They …

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