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Greece starts repaying ECB, IMF loans – Banks reopen, first repayments start

Posted by on 21/07/2015
Filed under Business, Europe, World

Greece starts repaying ECB, IMF loans – Banks reopen, first repayments start

Greece starts repaying ECB, IMF loans – Banks reopen, first repayments start

ATHENS: Greece reopened its banks and started the process of paying off billions of euros owed to international creditors yesterday in the first signs of a return to normal after a deal to agree a new package of bailout reforms. Customers were queued up outside bank branches open for the first time in three weeks […]

Burgan Bank Group reports net income of KD37.4 million

Posted by on 21/07/2015
Filed under Business

Burgan Bank Group reports net income of KD37.4 million

Burgan Bank Group reports net income of KD37.4 million

KUWAIT: Burgan Bank Group yesterday announced its first half results for the financial year 2015. Burgan Bank Group reported net income of KD37.4 million for the first half of the year reflecting a 12.3 % growth from the same period in 2014. Compared to the same period last year, Burgan Bank Group continues to register […]

Gold price sinks to more than 5-year low

Posted by on 21/07/2015
Filed under Business, Top Stories

Gold price sinks to more than 5-year low

Gold price sinks to more than 5-year low

Dollar hits 3-month high on rate view, pans gold – European shares rise, reversing fall in Asia

Posted by on 21/07/2015
Filed under Business

Dollar hits 3-month high on rate view, pans gold – European shares rise, reversing fall in Asia

Dollar hits 3-month high on rate view, pans gold – European shares rise, reversing fall in Asia

LONDON: The dollar jumped to three-month highs yesterday, extending its recent gains as expectations of rising US interest rates gathered pace, while gold prices plunged to their lowest in more than five years. The greenback posted its best weekly performance in about two months last week, after Federal Reserve Chair Janet Yellen reiterated that US […]

Hyundai Tucson, Accent receive JD Power Initial Quality Awards

Posted by on 21/07/2015
Filed under Business

Hyundai Tucson, Accent receive JD Power Initial Quality Awards

Hyundai Tucson, Accent receive JD Power Initial Quality Awards

KUWAIT: Hyundai has reaffirmed its position as one of the world’s leading automotive manufacturers thanks to prestigious awards from international awards body JD Power. As part of the company’s 2015 Initial Quality Study which surveyed 84,000 customers, the Hyundai Tucson and Accent have been reported fewer problems with their vehicles than any other small SUV […]

Kuwaiti companies post earnings

Posted by on 17/07/2015
Filed under Business, Kuwait, Other News

Kuwaiti companies post earnings

Kuwaiti companies post earnings

KUWAIT: Kuwait Portland Cement Company earned KD 5.2 million in the year’s H1, 55.1 fils per share, compared to KD 5.8 million, 61.12 fils per share in in H1 2014. The company said in a statement, posted on the KSE website, that its total assets reached KD 82.34 million, liabilities KD 17.48 million in the […]

Saudi triggers potential fuel price war

Posted by on 17/07/2015
Filed under Business, Middle East, World

Saudi triggers potential fuel price war

Saudi triggers potential fuel price war

SINGAPORE: The world’s top crude oil exporter Saudi Arabia has turned itself into a major power of refined fuels, offering customers millions of barrels of diesel and potentially triggering a price war with Asian competitors as its exports feed into a glut. Saudi Arabia, a leading member in the Organization of Petroleum Exporting Countries (OPEC), […]

Iranians prepare for life after sanctions

Posted by on 17/07/2015
Filed under Business, Middle East, Top Stories, World

Iranians prepare for life after sanctions

Iranians prepare for life after sanctions

GCC bond yields pick up on US rate hike expectations – NBK ECONOMIC REPORT

Posted by on 15/07/2015
Filed under Business

GCC bond yields pick up on US rate hike expectations – NBK ECONOMIC REPORT

GCC bond yields pick up on US rate hike expectations – NBK ECONOMIC REPORT

KUWAIT: Increased expectations of a US rate hike has seen GCC bond yields pick up, while CDS rates continued to ease as sentiment improved during 2Q15.Yields appear to have shrugged off earlier concerns about fiscal vulnerabilities in the GCC; instead, yields are now being driven by the prospects of at least one increase in the […]

Ahli United Bank maintains its market leadership in terms of RoE and RoA

Posted by on 15/07/2015
Filed under Business

Ahli United Bank maintains its market leadership in terms of RoE and RoA

Ahli United Bank maintains its market leadership in terms of RoE and RoA

KUWAIT: Ahli United Bank announced its results and financial statements for the first half ending on 30 June 2015, following the endorsement of the statements by the bank’s Board of Directors and the approval of the Central Bank of Kuwait. The results showed improvement . On this occasion, the, said “The net profit for 1H2015 […]

First US rate hike later this year: Yellen – Fed says economy on track, defends ‘transparency’

Posted by on 15/07/2015
Filed under America, Business, Top Stories, World

First US rate hike later this year: Yellen – Fed says economy on track, defends ‘transparency’

First US rate hike later this year: Yellen – Fed says economy on track, defends ‘transparency’

UAE, Oman among first destinations to receive new British Airways 787-9 Dreamliners in 2015

Posted by on 15/07/2015
Filed under Business

UAE, Oman among first destinations to receive new British Airways 787-9 Dreamliners in 2015

UAE, Oman among first destinations to receive new British Airways 787-9 Dreamliners in 2015

KUWAIT: British Airways is set to take delivery of its first Boeing 787-9 aircraft in 2015 with the UAE, Oman and Delhi routes among the first to welcome the Dreamliner. The airline has announced that its new Boeing 787-9 Dreamliner, complete with a new First class cabin, will start flying to Delhi from October 25 […]

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