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US economy grows at 3.5% rate in Q3 – Applications for jobless claims edge up

Posted by on 30/10/2014
Filed under America, Business, World

US economy grows at 3.5% rate in Q3 – Applications for jobless claims edge up

US economy grows at 3.5% rate in Q3 – Applications for jobless claims edge up

WASHINGTON: The US economy grew at a solid annual rate of 3.5 percent in the July-September quarter, propelled by solid gains in business investment, export sales and the biggest jump in military spending in five years. The third quarter result, which was slightly better than economists expected, followed a 4.6 percent rebound in the second […]

Don’t panic over price plunge: OPEC chief

Posted by on 29/10/2014
Filed under Business, Top Stories

Don’t panic over price plunge: OPEC chief

Don’t panic over price plunge: OPEC chief

LONDON: OPEC’s oil production is unlikely to change much in 2015 and there is no need to panic at the crude price drop, OPEC’s secretary general said yesterday, adding to indications the exporter group is in no hurry to cut output. Abdullah al-Badri also said output of higher-cost oil supplies such as shale would be […]

IMF calls for sweeping reforms in GCC

Posted by on 29/10/2014
Filed under Business

IMF calls for sweeping reforms in GCC

IMF calls for sweeping reforms in GCC

KUWAIT: In its latest regional economic outlook on MENA Region, IMF has indicated that despite setbacks, an uneven global economic recovery continues. According to the IMF, the growth forecast for the world economy has been revised downward to 3.3 percent this year, 0.4 percentage point lower than in the April 2014 World Economic Outlook largely […]

Alghanim Industries brings exciting new 2014 Lenovo smartphones to Kuwait

Posted by on 29/10/2014
Filed under Business

Alghanim Industries brings exciting new 2014 Lenovo smartphones to Kuwait

Alghanim Industries brings exciting new 2014 Lenovo smartphones to Kuwait

KUWAIT: Alghanim Industries is proud to announce the launch of the innovative lineup of 2014 Lenovo smartphones in Kuwait, including the flagship Vibe X2 and other exciting mobile models. The new range of Lenovo products will be available starting November, and can be purchased at any Xcite store by Alghanim Electronics and online at xcite.com. […]

CNBC interviews Gulf Bank’s CEO, César Gonz·lez-Bueno

Posted by on 29/10/2014
Filed under Business

CNBC interviews Gulf Bank’s CEO, César Gonz·lez-Bueno

CNBC interviews Gulf Bank’s CEO, César Gonz·lez-Bueno

KUWAIT: In his interview with CNBC, César Gonz·lez-Bueno, the Chief Executive Officer of Gulf Bank, commented that since he joined Gulf Bank last March, he has formed a very positive impression on the Bank’s financial position which, he confirmed, has completely recovered from the repercussions of 2008 crisis. Gonz·lez-Bueno said that the efforts by Gulf […]

Gold prices expected to rise in long term: Report

Posted by on 28/10/2014
Filed under Business

Gold prices expected to rise in long term: Report

Gold prices expected to rise in long term: Report

KUWAIT: A special report predicted that gold prices to rise on the long term despite present falls, as there is no sign the interest rate of the euro or the US dollar would rise in the foreseeable future. Gold price is still 3.3 percent higher than the beginning of the year, though analysts expected a […]

Zain KSA posts improving financial results – Net losses narrow by 19% in first 9 months of 2014

Posted by on 28/10/2014
Filed under Business

Zain KSA posts improving financial results – Net losses narrow by 19% in first 9 months of 2014

Zain KSA posts improving financial results – Net losses narrow by 19% in first 9 months of 2014

RIYADH: Zain KSA announced improving financial results for the 3rd quarter of 2014, recording a significant 21 percent increase in EBITDA during the first nine months of 2014, reaching SAR 825 million up from SAR 684 million in the same period of 2013. The company also succeeded in raising the EBITDA Margin to 18 percent, […]

VIVA to offer iPhone 6, iPhone 6 Plus in Kuwait on October 30

Posted by on 28/10/2014
Filed under Business

VIVA to offer iPhone 6, iPhone 6 Plus in Kuwait on October 30

VIVA to offer iPhone 6, iPhone 6 Plus in Kuwait on October 30

KUWAIT: Kuwait Telecommunications Company VIVA, yesterday announced it will offer iPhone 6 and iPhone 6 Plus, the biggest advancements in iPhone history, beginning tomorrow (30th October) in VIVA’s biggest branches. iPhone 6 & iPhone 6 Plus will be available with VIVA postpaid competitive plans. VIVA will allow iPhone 6 and iPhone 6 Plus customers to […]

Call to unlock opportunities of Islamic finance through cross-border tie-ups

Posted by on 28/10/2014
Filed under Business

Call to unlock opportunities of Islamic finance through cross-border tie-ups

Call to unlock opportunities of Islamic finance through cross-border tie-ups

DUBAI: The growth of the Islamic economy has the ability to unlock economic opportunities and improve socio-economic stability through cross border partnerships, the opening ceremony of the 10th World Islamic Economic Forum (WIEF), co-organized by WIEF Foundation and the Dubai Chamber of Commerce & Industry, observed. The opening session was graced by Sheikh Mohammed bin […]

Volkswagen Kuwait opens Express Service in Shuwaikh

Posted by on 28/10/2014
Filed under Business

Volkswagen Kuwait opens Express Service in Shuwaikh

Volkswagen Kuwait opens Express Service in Shuwaikh

KUWAIT: Behbehani Motor Company, the exclusive distributor of Volkswagen in Kuwait, yesterday announced the opening of an Express Service centre in Shuwaikh. The newly expanded service centre in the heart of Kuwait city’s automotive hub represents ca 450 sqm of unparalleled customer service with eight new service bays, the latest diagnostic equipment, and internationally trained […]

IMF less ‘concerned’ about Dubai property prices

Posted by on 27/10/2014
Filed under Business

IMF less ‘concerned’ about Dubai property prices

IMF less ‘concerned’ about Dubai property prices

DUBAI: Increases in Dubai’s property prices have moderated quite a lot and the International Monetary Fund is now less concerned about them than it was in May, a senior IMF official said yesterday. The IMF has previously warned that rapid rises in Dubai real estate prices, which earlier this year were in some cases a […]

Fed to end QE finally; GCC non-oil sector to grow at 5%

Fed to end QE finally; GCC non-oil sector to grow at 5%

Posted by on 27/10/2014
Filed under Business

Fed to end QE finally; GCC non-oil sector to grow at 5%

KUWAIT: As we enter the last quarter of the year, the world economy appears poised for moderate 3.3 percent growth for the year, and a better 3.8 percent for 2015 according to the IMF. The US continues to be the best performer amongst advanced economies, expected to grow 3 percent for 2H2014 (real GDP). Japan […]

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