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NBK reports net profits of KD 295.2m for 2016

Posted by on 23/01/2017
Filed under Business

NBK reports net profits of KD 295.2m for 2016

NBK reports net profits of KD 295.2m for 2016

KUWAIT: National Bank of Kuwait (NBK) reported net profits of KD 295.2 million ($964.5 million) for the year 2016 compared with KD 282.2 million ($921.9 million) in 2015, growing 4.6 percent year-on-year. The net profit in 2015 included an accounting gain in respect of the Group exiting its investment in International Bank of Qatar (IBQ). […]

Boubyan Bank reports net profit of KD 41m

Posted by on 23/01/2017
Filed under Business

Boubyan Bank reports net profit of KD 41m

Boubyan Bank reports net profit of KD 41m

Net profit grows 17% in 2016, with an EPS of 17.8fils KUWAIT: Boubyan Bank achieved net profit growth rate of 17 percent, recording a net profit of KD 41 million for the year ended 31 December 2016 with an EPS of 17.8 fils compared with 16.3 fils for 2015. The Board has recommended the distribution […]

Ahli United Bank opens its latest branch at Salmiya Boulevard

Posted by on 23/01/2017
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Ahli United Bank opens its latest branch at Salmiya Boulevard

Ahli United Bank opens its latest branch at Salmiya Boulevard

KUWAIT: Ahli United Bank (AUB) announced yesterday that it has opened its latest branch located at Salmiya Boulevard, Kuwait’s newest shopping and leisure destination. The new opening is in line with the Bank’s strategic objective of developing a highly advanced network of branches that are  located across the main business and residential districts in Kuwait, […]

Gold price exceeds $1,200

Posted by on 22/01/2017
Filed under Business, Kuwait, Other News

Gold price exceeds $1,200

Gold price exceeds $1,200

KUWAIT: Gold in the past week’s trades climbed to $1,204 per ounce, buoyed by the declining American dollar against other hard currencies, Sabaek Al- Kuwait said in a report yesterday. The precious metal continued rising for the fourth consecutive week, posting the highest rise in two months, with forecast the ounce rate might hit the […]

Kuwait oil price up 15 cents to $50.28 pb

Posted by on 22/01/2017
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Kuwait oil price up 15 cents to $50.28 pb

Kuwait oil price up 15 cents to $50.28 pb

KUWAIT: The price of Kuwaiti oil went up by 15 cents to $50.28 per barrel Friday as oppose to $50.13 pb the day before, said Kuwait Petroleum Corporation (KPC) on Saturday. At the global level, the price went up due to expectations that OPEC and Non-OPEC members will fulfill their deal to reduce their oil […]

Barclays reinforces growth ambitions throughout 2017

Posted by on 22/01/2017
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Barclays reinforces growth ambitions throughout 2017

Barclays reinforces growth ambitions throughout 2017

Three new senior bankers appointed in MENA KUWAIT: Barclays announced yesterday the appointment of three new senior bankers in its Wealth and Investment Management division for Middle East and North Africa (MENA). Antoine Roger Chemali and David Stephan both join Barclays Wealth and Investment Management division as directors, while Owen Dayson joins as a Vice […]

Chinese skeptic about economic ties under Trump

Posted by on 21/01/2017
Filed under Business, Top Stories

Chinese skeptic about economic ties under Trump

Chinese skeptic about economic ties under Trump

Businesses wary of plan to slap 45% tariff on Chinese imports BEIJING: People in Beijing expressed doubts yesterday about President Donald Trump’s ability to steer the US economy and manage China-American relations, underscoring concerns over trade, Taiwan and other issues. While Trump didn’t mention China in his inaugural address Friday, he referred often to the […]

KIB Gold sponsor of College of Engineering and Petroleum Exhibition

Posted by on 21/01/2017
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KIB Gold sponsor of College of Engineering and Petroleum Exhibition

KIB Gold sponsor of College of Engineering and Petroleum Exhibition

KUWAIT: Kuwait International Bank (KIB) sponsored the 31st Engineering Projects Exhibition organized by the College of Engineering and Petroleum at Kuwait University, which was held under the patronage of Sheikh Mohammed Al-Abdullah Al-Mubarak Al-Sabah, Minister of State for Cabinet Affairs, with the participation of the Kuwait Foundation for the Advancement of Sciences (KFAS). KIB’s gold […]

OPEC oil output to drop in January: IEA

Posted by on 19/01/2017
Filed under Business

OPEC oil output to drop in January: IEA

OPEC oil output to drop in January: IEA

Oil rises from one-week low after report PARIS: Steeper cuts in OPEC oil production are likely this month as producers increasingly implement a recent key deal aimed at stabilizing oil prices, the IEA said yesterday. “Initial indications are that a steeper (month-on-month) decline may be on the way in January,” said the International Energy Agency, […]

IMF REPORT ON KUWAIT – Concluding statement of 2016 Article IV Mission

Posted by on 18/01/2017
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IMF REPORT ON KUWAIT – Concluding statement of 2016 Article IV Mission

IMF REPORT ON KUWAIT – Concluding statement of 2016 Article IV Mission

KUWAIT: Kuwait’s fiscal and external accounts have been adversely affected by the lower oil prices, and financing needs have emerged. Resilient nonoil activity and strong oversight by the Central Bank of Kuwait have kept the financial sector sound. The key challenge for policymakers is to implement the government’s comprehensive six-pillar reform plan, which aims at […]

China growth slides to new 26-year low

Posted by on 18/01/2017
Filed under Business

China growth slides to new 26-year low

China growth slides to new 26-year low

BEIJING: China’s growth slipped to its slowest rate in more than a quarter of a century in 2016, an AFP survey has forecast, as analysts see mounting risks for the world’s number two economy with Donald Trump heading for the White House. While the Asian giant is a key engine of the global economy, affecting […]

Boursa Kuwait: Official Member in the ICMA

Posted by on 18/01/2017
Filed under Business

Boursa Kuwait: Official   Member in the ICMA

Boursa Kuwait: Official Member in the ICMA

KUWAIT: Boursa Kuwait is proud to announce that it has been accorded the official membership to join the International Capital Market Association (ICMA) on 1 January 2017. Commenting on this occasion, Boursa Kuwait Vice Chairman and CEO, Khaled Abdulrazzaq Al Khaled said in a press statement that: “Joining the ICMA is a major step for […]

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