Friday , January 19 2018


Kuwait ‘well positioned’ to ease lower oil impact – Continued reform policies key: IMF

WASHINGTON, Jan 17, (KUNA): Kuwait is “well positioned” to alleviate lower oil prices impact on the economy, the IMF said on Tuesday, as large financial buffers and low debt allow implementation of needed gradual fiscal consolidation. “The fiscal and external positions have deteriorated significantly and nonhydrocarbon growth has moderated  from …

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KPC renews crude oil storage deal with SUMED

Kuwait Petroleum Corporation (KPC) renewed its crude oil storage and transportation contract with Egypt’s Arab Petroleum Pipelines Company (SUMED). KPC said in a press statement, Tuesday, that the contract, which enters its third year, aims at strengthening Kuwait’s position in oil markets by realizing a 2030 global marketing strategy. KPC …

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15 projects enrolled in second edition of Fikra – Gulf Bank gold sponsor of program which transforms ideas into businesses

KUWAIT CITY, Jan 16: Gulf Bank is pleased to announce the eligibility of 15 projects to enroll in the second edition of Fikra Program and debut the training phase. Gulf Bank is the gold sponsor of Fikra Program which transforms ideas into businesses.  As a first step, over 170 applications …

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Kuwait says oil production cuts could reach between 146,000-148,000 bpd – Saudi pledges adherence to cuts, confident others will

KHOBAR, Saudi Arabia, Jan 16, (RTRS): Kuwait’s oil output cuts could reach between 146,000 and 148,000 barrels per day, which is more than the reduction to which the OPEC member committed itself under last month’s global deal among producers, its oil minister told Sky News Arabia. “We used this opportunity …

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Kuwait’s bourse soars 115.15 pts; volume up – NBK rallies 20 fils; Jazeera Airways slips

KUWAIT CITY, Jan 15: Kuwait stocks rose sharply in a broad rally on Sunday to kick off the week on strong note. The price index, rallied 115.15 pts, the highest single day gain of the year, to close at 6,222.83 pts. The sentiment was markedly bullish on firming oil price. …

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Iran parliament passes 5-year economic plan – Plan includes sharp rise in foreign investment

DUBAI, Jan 15, (RTRS): Iran’s parliament passed a five-year economic development plan on Sunday that includes a sharp rise in foreign investment, though Tehran may not achieve that while US president-elect Donald Trump is in office. The plan lets the government arrange up to an average of $30 billion of …

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GCC economies adjust to low oil prices

Kuwait Finance and Investment Company (KFIC) clarified in its financial annual report that the International markets closed the year 2016 in bullish territory after enduring a difficult start to the year, with positive economic data coming from Advanced Economies and Emerging Markets. Geopolitical events continued to impact economies on a …

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Kuwaitis heavily invested in Dubai real estate sector in 2016: report – Kuwait’s local realty sales reach KD 2.55 bln last year

DUBAI, Jan 14, (KUNA): Some $544 million in Kuwaiti money was invested in Dubai’s real estate sector in 2016, said a report Saturday. A report by Dubai Land Department revealed that there were about 770 Kuwaiti investors in 2016, coming in third place GCC-wise behind their counterparts from Saudi Arabia …

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Strong, united OPEC key – Compliance boosts oil prices

CAN the oil organization remain strong and manage the oil market by itself or does it need strong support from the outside to lead and influence the petroleum market? This is the hard question that needs to be answered in consideration of the experience of recent months with the oil …

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