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Al-Dousari: EQUATE plays key role in transforming petrochemical industry

Posted by on 01/12/2018
Filed under Business

Al-Dousari: EQUATE plays key role in transforming petrochemical industry

Al-Dousari: EQUATE plays key role in transforming petrochemical industry

Group sponsors 13th annual Gulf Petrochemical & Chemical Association (GPCA) forum KUWAIT: EQUATE Group, a global producer of petrochemicals, sponsored the 13th annual Gulf Petrochemicals & Chemicals Association (GPCA) Forum, in support of the pioneering role of the Arabian Gulf’s industrial sector. The forum was held in Dubai and lasted for three days. A large […]

Saudi crown prince arrives in Argentina

Posted by on 29/11/2018
Filed under Business, Middle East, Top Stories, World

Saudi crown prince arrives in Argentina

Saudi crown prince arrives in Argentina

Trump heads to G20 summit BUENOS AIRES: US President Donald Trump jets to Argentina for a G20 summit, keen to do battle with China on trade and sharpening his rhetoric against Russia over Ukraine yesterday. The weekend summit is confronted with increasingly dire warnings, by the International Monetary Fund among others, of the potential harm […]

Stocks, bonds rise as market prices in more dovish Fed

Posted by on 29/11/2018
Filed under Business

Stocks, bonds rise as market prices in more dovish Fed

Stocks, bonds rise as market prices in more dovish Fed

World stocks hit highest in two weeks LONDON: A more dovish tone from Fed Chairman Jerome Powell helped to revive risk appetite yesterday, driving world stocks to their highest in more than two weeks, as European equities joined a global rally and core bond yields fell. European stocks rallied, with the leading euro zone index […]

Sri Lanka parliament blocks cash flow to Rajapakse’s office

Posted by on 29/11/2018
Filed under Business, Subcontinent, World

Sri Lanka parliament blocks cash flow to Rajapakse’s office

Sri Lanka parliament blocks cash flow to Rajapakse’s office

Rajapakse’s govt unable to present 2019 budget COLOMBO: Sri Lanka’s parliament voted yesterday to block any spending by the prime minister’s office, further paralyzing a government adrift from weeks of conflict as two rivals claim to run the country. The island has been in crisis since October 26 when the president sacked prime minister Ranil […]

Zain KSA to sell, lease back its telecom tower network for $648m

Posted by on 28/11/2018
Filed under Business

Zain KSA to sell, lease back its telecom tower network for $648m

Zain KSA to sell, lease back its telecom tower network for $648m

Sale of passive, tower infrastructure to IHS approved RIYADH: Zain Group announces that the board of directors of Zain Saudi Arabia (Zain KSA) has approved an offer to sell and lease back the passive physical infrastructure of its mobile tower portfolio to IHS Holding Limited (IHS) for circa SAR 2.43 billion ($648 million). IHS is […]

CMA sets timeframe for third phase of Boursa Kuwait development

Posted by on 28/11/2018
Filed under Business

CMA sets timeframe for third phase of Boursa Kuwait development

CMA sets timeframe for third phase of Boursa Kuwait development

KUWAIT: The Capital Market Authority (CMA) announced the time-frame for the third phase of the market development project before the end of 2019 during a press conference held yesterday at the CMA headquarters. Both the Kuwait Clearing Company and Boursa Kuwait participated in this conference, as they are the main partners in the project of […]

Burgan Bank wins CITI Bank New York’s ‘Excellence Quality Recognition Award’

Posted by on 28/11/2018
Filed under Business

Burgan Bank wins CITI Bank New York’s ‘Excellence Quality Recognition Award’

Burgan Bank wins CITI Bank New York’s ‘Excellence Quality Recognition Award’

Award acknowledges bank’s consistent, high quality performance KUWAIT: Burgan Bank announced that it has received the coveted ‘Excellence Quality Recognition Award’ for the year 2017 from CITI Bank New York. The award acknowledges the bank’s consistent, high quality performance and standards in the complete range of US dollar funds transfer and Treasury operations the management […]

NBK Capital wins ‘Asset Manager of the Year Kuwait for 2018’

Posted by on 28/11/2018
Filed under Business

NBK Capital wins ‘Asset Manager of the Year Kuwait for 2018’

NBK Capital wins ‘Asset Manager of the Year Kuwait for 2018’

Global Investor Group award for 9th year in a row KUWAIT: Watani Investment Company K.S.C.C (NBK Capital) announced that it has been awarded the “Asset Manager of the Year | Kuwait for 2018” for the ninth year in a row, awarded by Global Investor Group, that gives you access to a wealth of news, analysis […]

UPAC awarded Terminal 4 parking facility management

Posted by on 27/11/2018
Filed under Business

UPAC awarded Terminal 4 parking facility management

UPAC awarded Terminal 4 parking facility management

KUWAIT: United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, signed a five-year concession contract with a total contract value of KD 5.352 million, with the Incheon International Airport Corporation (IIAC), for the development operation and management of the parking lot and related facilities at the Kuwait International […]

Supply shock triggers oil price drop; OPEC remains in focus

Posted by on 27/11/2018
Filed under Business

Supply shock triggers oil price drop; OPEC remains in focus

Supply shock triggers oil price drop; OPEC remains in focus

Consolidation and acquisitions continue to shape industry KUWAIT: The past two months have been brutal for financial markets and the oil market was no exception. Brent fell from a high of $86.29/bbl. on October 3 to $58.80/bbl on November 23. That is around 32 percent, or the equivalent of $27.49, in less than two months. […]

Turkey investment body to hold B2B meetings with Kuwaiti investors

Posted by on 27/11/2018
Filed under Business

Turkey investment body to hold B2B meetings with Kuwaiti investors

Turkey investment body to hold B2B meetings with Kuwaiti investors

Turkey seeks to boost Kuwaiti investments in strategic sectors The Prime Ministry Investment Support and Promotion Agency of Turkey organized a roundtable with CEOs of top companies in Kuwait on Sunday to discuss the investment climate and opportunities in Turkey. The event discussed the Turkish economy’s latest trends and investment environment and opportunities for foreigners. […]

Kuwait inflation remains low in the third quarter of 2018

Posted by on 26/11/2018
Filed under Business

Kuwait inflation remains low in the third quarter of 2018

Kuwait inflation remains low in the third quarter of 2018

Strong dinar helps limit rising import price pressures KUWAIT: Inflation hit a 14-year low of 0.3 percent y/y in September, having averaged 0.8 percent in July and August. The low September reading was driven primarily by softer food and beverage prices, and deflation in housing services (rents). But our core measure of inflation, which excludes […]