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Trump slams OPEC for high oil prices

Posted by on 21/04/2018
Filed under Business

Trump slams OPEC for high oil prices

Trump slams OPEC for high oil prices

Barkindo says no price objective in OPEC WASHINGTON/JEDDAH: US President Donald Trump accused OPEC on Friday of “artificially” boosting oil prices, drawing rebukes from some of the world’s top energy exporters. “Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea. Oil […]

EQUATE highlights HR practices at Kuwait Oil & Gas Summit

Posted by on 21/04/2018
Filed under Business

EQUATE highlights HR practices at Kuwait Oil & Gas Summit

EQUATE highlights HR practices at Kuwait Oil & Gas Summit

KUWAIT: EQUATE Petrochemical Company, a global producer of petrochemicals, sponsored the 5th Kuwait Oil & Gas Summit (KOGS) 2018, which is one of the Arabian Gulf’s key industrial events. Participating in a panel discussion titled “Energizing the Workforce and Strategies for Talent Development”, EQUATE’s Global Human Resources Director Mohammad Al-Sharhan said, “EQUATE has a diverse […]

Kuwait-Turk Best Islamic Bank in Turkey

Posted by on 21/04/2018
Filed under Business

Kuwait-Turk Best Islamic Bank in Turkey

Kuwait-Turk Best Islamic Bank in Turkey

KUWAIT: Turk won a highly distinguished and reputable prize as part of the annual prize award ceremony by Islamic Finance News (IFN) magazine for the year 2017. The bank has also received the best Islamic bank award in Turkey. These prizes come as part of many prizes awarded by highly reputable international organizations to KFH […]

Boursa Kuwait holds AGM

Posted by on 19/04/2018
Filed under Business

Boursa Kuwait holds AGM

Boursa Kuwait holds AGM

Saad Al-Mutawa elected as chairman, Sulaiman Al-Marzouq as VC KUWAIT: Boursa Kuwait held its Annual General Meeting with an attendance rate of 100 percent. The Assembly approved the financial statements for the financial year ending 31 December 2017 while also electing the board of directors for the next three years. The elected board is composed […]

In Iraq’s oil-rich Basra, shanty towns flourish

Posted by on 19/04/2018
Filed under Business, Middle East, World

In Iraq’s oil-rich Basra, shanty towns flourish

In Iraq’s oil-rich Basra, shanty towns flourish

Basra’s informal settlements remain an anarchic clutter BASRA: From his small home nestled alongside train tracks in the southern Iraqi province of Basra, Sultan Nayef looks out at plumes of smoke billowing across an expanse of oil fields. Like thousands of others, the unemployed 25-year-old moved to oil-rich Basra in the hope of finding work […]

US recession risks seen rising sharply in 2019, 2020: Survey

Posted by on 19/04/2018
Filed under America, Business, Top Stories, World

US recession risks seen rising sharply in 2019, 2020: Survey

US recession risks seen rising sharply in 2019, 2020: Survey

US expansion part of a global upturn in industrial activity LONDON: Energy market professionals estimate there is a 40 percent chance of the US economy entering recession before the end of next year, rising to a little over 50 percent before the end of 2020. The results are based on a survey sent by Reuters […]

IMF warns of risks as central banks tighten

Posted by on 18/04/2018
Filed under Business, Top Stories

IMF warns of risks as central banks tighten

IMF warns of risks as central banks tighten

Report calls for global coordination to regulate cryptocurrencies WASHINGTON: The International Monetary Fund urged central banks yesterday to take a gradual and transparent approach to tightening monetary policy, warning that unexpected moves could shock the global economy. The fund cautioned that investors and financial markets expect a steady approach to monetary tightening based on the […]

Barclays: Equities may continue outperforming bonds

Posted by on 18/04/2018
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Barclays: Equities may continue outperforming bonds

Barclays: Equities may continue outperforming bonds

KUWAIT: Barclays published its Q2 2018 Compass Report, which examines major asset classes globally. The report notes that today’s best performing investment portfolios are those geared towards developed and emerging market equities, in addition to high yield and emerging markets bonds. The report also reinforces the importance of maintaining a well-diversified long-term core investment portfolio. […]

Kuwait’s non-oil growth improves to 3.3% in 2017

Posted by on 18/04/2018
Filed under Business

Kuwait’s non-oil growth improves to 3.3% in 2017

Kuwait’s non-oil growth improves to 3.3% in 2017

Recovery in consumer sector gained pace KUWAIT: The non-oil economy improved in 2017, with growth exceeding expectations. The rebound has come from project spending and a recovering consumer sector. Data thus far in 2018 continued to indicate that the recovery in consumer activity is robust. Meanwhile, the solid US economy saw the Fed raise interest […]

Mezzan Holding holds 17th annual general meeting

Posted by on 18/04/2018
Filed under Business

Mezzan Holding holds 17th annual general meeting

Mezzan Holding holds 17th annual general meeting

Shareholders approve cash dividend of 22 fils per share KUWAIT: Mezzan Holding KSCP, one of the largest manufacturers and distributors of food, beverage, FMCG and pharmaceutical products in the Gulf, held its 17th Annual General Meeting (AGM) yesterday. During the AGM, the shareholders approved the Board of Directors’ recommendation to distribute 22 fils per share […]

IMF sees solid near-term global growth

Posted by on 17/04/2018
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IMF sees solid near-term global growth

IMF sees solid near-term global growth

Emerging Asia seen as top global growth engine WASHINGTON: The global economy is expected to grow at a solid pace through next year, boosted by faster expansion in the United States and Europe but after that risks will build, the International Monetary Fund said yesterday. In the latest update to its World Economic Outlook, the […]

Capital Intelligence upgrades Gulf Bank’s Financial Strength Rating to “A-“

Posted by on 17/04/2018
Filed under Business

Capital Intelligence upgrades Gulf Bank’s Financial Strength Rating to “A-“

Capital Intelligence upgrades Gulf Bank’s Financial Strength Rating to “A-“

KUWAIT: Capital Intelligence Ratings, the international credit rating agency, announced yesterday that it has upgraded the Financial Strength rating of Gulf Bank from “BBB+” to “A-“. “The rating upgrade is supported by sound and sustained improvement in the Bank’s loan asset quality, the solid capital and good liquidity positions,” said Capital Intelligence in its recently […]

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