Saturday , November 18 2017

Business

OPEC begging shale oil producers for help! – New Saudi-Russia alliance seems best for market stability

Last week out of the blue, OPEC’s secretary general openly asked US shale oil producers to help the oil organization by coordinating and assisting the oil group in stabilizing the oil prices by managing their production throughputs. Such a surprise call from OPEC shows that the organization is desperately making …

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Wendy’s Middle East takes 3 awards – Annual Global Convention

KUWAIT CITY, Oct 11: Wendy’s Middle East was recognized with three prestigious awards at the annual Global Wendy’s Convention, held in Las Vegas, Nevada last month. The Convention brings together all system franchisees every other year. Wendy’s Middle East, operated by Alghanim Industries, one of the largest privately-owned companies in …

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Indian traders choking on Modi’s economic medicine – ‘Modinomics’ has been a bitter pill to swallow

LUDHIANA, India, Oct 11, (AFP): Tax overhauls and black market clampdowns have been touted as radical medicine to modernise India’s economy, but for small traders like Swarn Singh Darera, “Modinomics” has been a bitter pill to swallow. At his factory in the northern Punjab city of Ludhiana, Sikh businessman Darera …

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Kuwait’s index buoyed by surge in oil and gas shares – NAPESCO spikes 63 fils; Ooredoo up 9 fils

KUWAIT CITY, Oct 11: Kuwait’s stocks rebounded on Wednesday to halt a three-day slide, buoyed by surge in oil and gas shares. The price index rose 12.9 points in a lackluster trade to close at 6,626.12 points with mixed boards The KSX-15 benchmark fell 5.24 points to 1,004.77 points while …

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KPC sponsors 3rd KOGS show, confab

Kuwait, Japanese businessmen panel holds 21st meeting KUWAIT CITY, Oct 11, (KUNA): Kuwait Petroleum Corporation (KPC) announced Wednesday that it would be sponsoring the 3rd Kuwait Oil and Gas Show and Conference (KOGS 2017), which is organized by the Society of Petroleum Engineers on Oct 15-18, 2017 under the patronage …

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Kuwait economy projected to shrink by 2.1%: IMF – Oil slide weighs heavily on MENA growth forecast

DUBAI, Oct 10, (AFP): A massive slide in the economic growth of Middle East top oil exporters is weighing heavily on the outlook for the entire region, the International Monetary Fund said on Tuesday. “Fuel exporters are particularly hard hit by the protracted adjustment to lower commodity revenues,” the IMF …

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Bank and tech shares weigh on Kuwait index – Agility dives 41 fils; Al-Themar surges

KUWAIT CITY, Oct 10: Kuwait stocks extended declines into a third day on Tuesday as technology and bank shares weigh. The main index plunged 35.97 points in a sluggish trade to close at 6,613.22 points. The KSX-15 benchmark sank 15.82 points to 1,010.01 points and the weighted index slipped 4.61 …

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NBK reports net profit of KD 238.4m for 9M of ’17 – Net operating income up 11.7%, reaffirming bank’s solidity across all markets: Al-Sayer

KUWAIT CITY, Oct 9: National Bank of Kuwait (NBK) reported net profits of KD 238.4 million ($788.9 million) for the first nine months of 2017 compared with KD 219.3 million ($725.7 million) for the same period in 2016. NBK’s profits during the first nine months of 2017 grew by 8.7% …

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Al-Tunsy Real Estate offers high quality projects in Turkey and UK – Part of new strategy for next 3 years

KUWAIT CITY, Oct 9: Al-Tunsy Real- Estate Group held a press conference yesterday during which the signing of a cooperation protocol with Baitak Real Estate Services Company (Sarajevo), which unveiled its new strategy for the coming years, which includes the development and marketing of a variety of real estate projects …

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Kuwait stocks tumble as Zain sheds 3.45% – Kuwait National Cinema plunges 140 fils, Humansoft gains

KUWAIT CITY, Oct 9: Kuwait stocks pulled lower on Monday as corporate earnings for third quarter kicked off. The main index sank 11.51 points to settle at 6,649.19 points. Zain shares fell 3.45 percent despite Omantel interest in boosting stake. The KSX-15 benchmark dipped 6.88 points to 1,025.83 points and …

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