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Oil market will face surplus in 2019: IEA

Posted by on 14/11/2018
Filed under Business, Top Stories

Oil market will face surplus in 2019: IEA

Oil market will face surplus in 2019: IEA

EU plan to enable non-dollar Iran trade, oil sales unraveling LONDON: Global oil supply will outpace demand throughout 2019, as a relentless rise in output swamps growth in consumption that is at risk from a slowing economy, the International Energy Agency said yesterday. In its monthly report the Paris-based IEA left its forecast for global […]

UBC signs KD 75m contract for suburb of Sabah Al-Ahmed City

Posted by on 14/11/2018
Filed under Business

UBC signs KD 75m contract for suburb of Sabah Al-Ahmed City

UBC signs KD 75m contract for suburb of Sabah Al-Ahmed City

Project includes 40 residential buildings and infrastructure works KUWAIT: United Building Company K.S.C.C (UBC), a subsidiary of United Real Estate Company K.S.C.P (URC), one of the leading real estate development company in the Middle East and North Africa, has announced signing a contract for KD75 million for the construction, completion and maintenance of 40 residential […]

Tamdeen Group wins gold award from ME Council of Shopping Centers

Posted by on 14/11/2018
Filed under Business

Tamdeen Group wins gold award from ME Council of Shopping Centers

Tamdeen Group wins gold award from ME Council of Shopping Centers

KUWAIT: Tamdeen Group, Kuwait’s leading mixed-use property developer, won the “Design and Development” gold award for the innovation in “Al-Kout Mall” in the “New Development” category in shopping malls. Al-Kout Mall, one of Al-Kout Project’s six bespoke experiences, was awarded during the Middle East and North Africa Retail and Shopping Center Awards 2018. An international […]

NREC reports KD18.42 million operating revenue for 9M in 2018

Posted by on 14/11/2018
Filed under Business

NREC reports KD18.42 million operating revenue for 9M in 2018

NREC reports KD18.42 million operating revenue for 9M in 2018

KUWAIT: National Real Estate Company (NREC), which is developing properties valued at over $2 billion in the Middle East and North Africa region, today announced its financial and operational earnings for the first nine months of 2018, announcing an operating revenue of KD 18.42 million, and an EBITDA of KD 17.82 million, up 16.54 percent […]

Oil prices fall on receding supply shortage fears, weaker outlook

Posted by on 13/11/2018
Filed under Business

Oil prices fall on receding supply shortage fears, weaker outlook

Oil prices fall on receding supply shortage fears, weaker outlook

Iran sanctions and record US production impact KUWAIT: Since peaking at near four-year highs in early October, oil prices have dropped by more than 18 percent, to around $70/bbl (Brent) and $60/bbl (WTI), as bullish market sentiments shift perceptibly more bearish on receding fears of a supply shortage caused by US sanctions on Iran, record […]

Al-Kharafi spearheads Zain’s empowerment of women with revolutionary steps

Posted by on 13/11/2018
Filed under Business, Top Stories

Al-Kharafi spearheads Zain’s empowerment of women with revolutionary steps

Al-Kharafi spearheads Zain’s empowerment of women with revolutionary steps

‘First to create new role, Chief Inclusion and Diversity Officer, to drive Empowerment’ First to introduce flex time for working moms KUWAIT: Zain Group, the leading mobile telecom innovator in eight markets across the Middle East and Africa hosted its second annual Women Empowerment (WE) forum at the Four Seasons Hotel, Kuwait on Monday, gathering […]

CEF, AFESD hold forum to discuss world, Kuwait economic outlook

Posted by on 13/11/2018
Filed under Business

CEF, AFESD hold forum to discuss world, Kuwait economic outlook

CEF, AFESD hold forum to discuss world, Kuwait economic outlook

KUWAIT: The IMF Middle East Center for Economics and Finance in Kuwait, jointly with the Arab Fund for Economic and Social Development, held a high-level symposium that discussed the world economic outlook and its implications for Kuwait and the region. The IMF Middle East Center for Economics and Finance (CEF) in Kuwait, jointly with the […]

KIPCO announces net profit of KD 20.4m for first 9M of 2018

Posted by on 13/11/2018
Filed under Business

KIPCO announces net profit of KD 20.4m for first 9M of 2018

KIPCO announces net profit of KD 20.4m for first 9M of 2018

Group performance continues to fare well: CEO-Investment KUWAIT: KIPCO – the Kuwait Projects Company (Holding) – announced a net profit of KD 8.32 million ($27.4 million), or 3.43 fils per share (US$ 1.1 cents), for the third quarter of 2018 (the three months ended September 30, 2018). This is a 30 per cent increase over […]

KAMCO reports KD 1.05 million net profit for first nine months of 2018

Posted by on 13/11/2018
Filed under Business

KAMCO reports KD 1.05 million net profit for first nine months of 2018

KAMCO reports KD 1.05 million net profit for first nine months of 2018

Results demonstrate success of our growth strategy: Sarkhou KUWAIT: KAMCO Investment Company, a leading investment firm with one of the largest AUMs in the region, announced its financial results for the first nine months ended September 30, 2018. The Company recorded a net profit of KD 1.05 million, an increase of 6 percent over the […]

Riyadh urges 1m bpd cut; Saudi, UAE giants team up for gas push

Posted by on 12/11/2018
Filed under Business, Middle East, Top Stories, World

Riyadh urges 1m bpd cut; Saudi, UAE giants team up for gas push

Riyadh urges 1m bpd cut; Saudi, UAE giants team up for gas push

ABU DHABI: Saudi Arabia’s energy minister called yesterday for a global output cut of one million barrels per day to re-balance the market, as Riyadh unveiled plans to cut production by 500,000 bpd from December. “The technical analysis we reviewed yesterday shows that we need a reduction approaching one million bpd to balance the market,” […]

India’s inflation rate drops, giving RBI a breathing space

Posted by on 12/11/2018
Filed under Business, Subcontinent, World

India’s inflation rate drops, giving RBI a breathing space

India’s inflation rate drops, giving RBI a breathing space

NEW DELHI: India’s retail inflation rate dropped sharply in October, giving the central bank leeway to allow easier lending policies, but plunging farm prices sent a stark warning to Prime Minister Narendra Modi about the challenges he faces in rural areas in next year’s general election. The rate, which includes food and energy prices, dropped […]

Al-Nahedh: Financing development projects in line with Kuwait Vision

Posted by on 12/11/2018
Filed under Business

Al-Nahedh: Financing development projects in line with Kuwait Vision

Al-Nahedh: Financing development projects in line with Kuwait Vision

KFH Group CEO participates in 2018 IIF MENA Financial Summit in Abu Dhabi KUWAIT: Group Chief Executive Officer at Kuwait Finance House (KFH), Mazin Saad Al-Nahedh emphasized the role of Islamic finance instruments in providing effective financing solutions, indicating the opportunity size in the Islamic Finance space is over $2.5 trillion and expected to grow […]

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