Kuwait news

(Photo Credit: Arabianeye-Reuters)
27 February 08:09 PM S&P expects GCC commercial borrowing to fall to $75bn
  Mubasher: Standard & Poor’s said in a new report that it expects long-term gross sovereign commercial borrowing for the six member states in the GCC to decline to $75 billion in 2017, from $105 billion in 2016. Sovereign commercial debt with an …
Photo Credit: Mubasher
27 February 03:33 PM Aayan Real Estate to consider financials 1 March
Mubasher: Aayan Real Estate will hold its board meeting on 1 March to discuss the consolidated financial statements for the fiscal year that ended on 31 December 2016, according to a bourse statement issued on Monday. During the nine-month period, …
Photo Credit: Mubasher
27 February 03:30 PM Sharjah Cement to discuss dividend proposal early March
Mubasher: The board of Sharjah Cement and Industrial Development Co will hold a meeting on 4 March to look over the recommendation of distributing dividends for fiscal year 2016. The board members of Sharjah Cement, which is listed on both Boursa …
BBK’s profits during the fiscal year stood at BHD 56.41 million (Photo Credit: Mubasher)
27 February 03:20 PM BBK posts higher profits in Q4
Mubasher: Bank of Bahrain and Kuwait (BBK) posted an increase of 1.7% in profits during the fourth quarter of 2016, as compared to the corresponding period of the previous year. Earnings rose to BHD 13.17 million ($33.8 million) in Q4-16 from BHD …
NBK's stock ended Monday’s session 1.35% lower at Boursa Kuwait (Photo Credit: Mubasher)
27 February 02:57 PM NBK Bahrain Q4 profits rise 14.3%
Mubasher: The National Bank of Kuwait – Bahrain (NBK Bahrain) achieved growth of 14.3% in profits during fiscal year 2016 as compared to the same period of 2015. Earnings increased to BHD 73.42 million ($188.61 million) in FY16 from BHD 64.21 …
Boubyan now owns a stake of 21.12% in Nafais  (Photo Credit: Mubasher)
27 February 02:40 PM Boubyan Petrochemical raises stake in Nafais
Mubasher: Boubyan Petrochemical Co said that one of its employees, who is a board member in Nafais Holding, has purchased 5.28 million shares or a 1.25% stake in Nafais. The purchase price reached 210 fils per share, with an overall value of KWD …
Ithmaar achieved a net profit of $13.8 million in FY16 (Photo Credit: Mubasher)
27 February 01:57 PM Ithmaar Holding Q4 losses shrink 94.9%
Mubasher: Ithmaar Holding registered a decline of 94.9% in losses to total $2.93 million during the fourth quarter of 2016 from $57.79 million in the same period of the previous year. During fiscal year 2016, Ithmaar achieved a net profit of $13.8 …
(Press release photo)
27 February 01:15 PM NBK-Egypt Q4 profits decline 46%
Cairo – Egypt: The National Bank of Kuwait in Egypt (NBK-Egypt) said Monday that its profits for the fourth quarter of fiscal year 2016 rose 45.7% to EGP 189.19 million from EGP 129.85 million for Q4-15. Net profits for fiscal year 2016 reached …
Trading value shrank to KWD 23.81 million (Photo Credit: Mubasher)
27 February 12:50 PM Boursa Kuwait ends Monday lower
Mubasher: The main index of Boursa Kuwait went down by 0.42% or 28.94 points to end Monday’s session at 6780.84 points. Both the weighted and Kuwait-15 indices fell by 0.49% and 0.29%, respectively. The real estate segment led the decliners with a …
Photo Credit: Mubasher
27 February 09:48 AM Court sets date for restructuring Ayaan Leasing debts
Mubasher: The Kuwaiti court has postponed Aayan Leasing and Investment’s request to 30 March, 2017. The court will look into the debts restructuring proposal, which was set for a court session on 23 February, according to a bourse statement issued …
(Photo credit: Arabianeye - Reuters)
27 February 09:46 AM Boursa Kuwait opens Monday on mixed note
Kuwait- Mubasher: The price index of Boursa Kuwait added 0.07% or 5.40 points to 6,814.18 points on Monday; Kuwait-15 indices edged up 0.02%, while the weighted went down 0.07%, respectively. Trading volume reached 66.02 million shares through …
Specialities Group incurred losses of KWD 3 million in 2016 (Photo Credit: Company Website)
27 February 09:14 AM Specialities Group losses widen in Q4
Kuwait – Mubasher: Specialities Group Holding posted a 54.2% year-on-year rise in its losses during the fourth quarter of 2016, according to a bourse statement. Losses reached KWD 2.59 million ($8.48 million) in Q4-16, compared to KWD 1.68 million …
IFA will disclose estimated profits worth KWD 3.2 million (Photo Credit: Mubasher)
27 February 09:13 AM IFA unit amends deal; $10.5m gain estimated
Mubasher: International Financial Advisors (IFA) said that its subsidiary IFA Hotels and Resorts has started to negotiate over amending articles in a contract with a current hotel operator. As a result of the amendments, the company will disclose …
Traders at Boursa Kuwait (Photo Credit: Arabianeye-Reuters)
27 February 06:42 AM Boursa Kuwait likely to continue downtrend
By: Mahmoud Gamal Kuwait – Mubasher: Boursa Kuwait is expected to continue its decline, amid fears over the possible suspension of trading the shares of some companies which did not announce their annual financial results yet, analysts told …
Traders at DFM (Photo Credit: Arabianeye-Reuters)
27 February 06:09 AM Gulf exchanges need new liquidity – Analysts
By: Mahmoud Gamal Mubasher: Most Gulf markets need the entry of new liquidity to be able to break important resistance levels on Monday, amid the control of speculations and the decline of oil prices, capital market analyst Ahmed Akl told …
Board members recommended 30% cash dividends (Photo Credit: Mubasher)
26 February 11:24 AM Bahrain Kuwait Insurance Q4 profits down; dividends proposed
Mubasher: Bahrain Kuwait Insurance posted a drop of 20.9% in profits during the fourth quarter of 2016 as compared to the same period a year ago. Earnings shrank to BHD 757,000 ($1.9 million) in Q4-16 from BHD 957,000 ($2.4 million) in Q4-15, …
Gold prices are expected to decline to 1,220-1,200 points (Photo Credit: Arabianeye-Reuters)
26 February 06:17 AM US dollar likely to strengthen; gold prices to decline
By: Mahmoud Gamal Mubasher: The US dollar is expected to rise this week, amid anticipations of strong economic data that will increase the possibility of a rate hike by the US Federal Reserve next month; thus, pushing gold prices down. The US …
Traders at the Abu Dhabi Securities Exchange (ADX) (Photo Credit: Arabianeye-Reuters)
26 February 05:52 AM Investors likely to buy GCC stocks ahead of dividends
By: Mahmoud Gamal Mubasher: Most Gulf stock markets are expected to rise as portfolio investors will increase their positions, in line with the volatility of global stock and oil markets, analysts told Mubasher. Portfolio investors are likely to …
Omani crude oil reached $53.43 per barrel - (Photo Credit: Arabianeye-Reuters)
25 February 04:07 PM Oman oil down 12 cents
Mubasher: The price of Oman oil for April delivery decreased by 12 cents per barrel, according to the Dubai Mercantile Exchange (DME). Omani crude registered $53.43 per barrel (pb) on Friday, compared to $54.44 pb on Thursday. It’s worth noting …
Kuwait Crude Oil registered $52.71 per barrel on Friday - (Photo Credit: Arabaineye-Reuters)
25 February 12:28 PM Kuwait oil down 23 cents
Kuwait - Mubasher: The price of Kuwaiti oil barrel dropped 23 cents, Kuwait Petroleum Corporation (KPC) said Saturday. Kuwait crude reached $52.71 per barrel (pb) on Friday compared to $52.94 last Thursday, Kuwait News Agency (KUNA) reported. In …
(Photo credit: Arabianeye-Reuters)
24 February 02:39 PM Oman oil down 12 cents in Friday's trades
Mubasher: The price per barrel of Omani oil declined on Friday, according to data released by the Dubai Mercantile Exchange (DME). Omani oil for April delivery declined to $55.54 pb, compared to its closing price of $55.66 pb on Thursday. …
(Photo credit: Arabianeye-Reuters)
24 February 10:53 AM Oil prices down Friday after US data
Mubasher: The prices of oil declined on Friday after economic data showed a rise in US oil and natural gas stockpiles. Brent crude (for April delivery) decreased 0.18% to $56.4 per barrel. Late Thursday, the Energy Information Administration (EIA) …
IFA ended Thursday’s session lower (Photo Credit: Arabianeye-Reuters)
23 February 06:30 PM IFA unit in talks to post KWD 3.2m gain
Mubasher: International Financial Advisors (IFA) said that its subsidiary has started negotiations to modify articles in operating hotels in order to achieve an estimated revenue of KWD 3.2 million, according to a bourse statement issued on …
(Photo credit: Arabianeye - Reuters)
23 February 05:45 PM Fujairah Cement to discuss $5.8m dividends 13 April
Kuwait – Mubasher: Fujairah Cement Industries Company said Thursday that its ordinary general meeting (OGM) will discuss distributing cash dividends worth AED 21.35 million ($5.812 million) for  fiscal year 2016 on 13 April. The OGM will also …
Turnover shrank by 35% to KWD 183.86 million (Photo Credit: Arabianeye-Reuters)
23 February 05:06 PM Boursa Kuwait posts negative performance in week
Mubasher: The main index of Boursa Kuwait lost 0.22% or 14.71 points to reach 6,809.78 points by the week ended 23 February from 6,809.78 points by the week ended 16 February. Both the weighted and Kuwait-15 indices retreated by 0.38% or 1.62 …