Kuwait news

1 hour ago Oil settles lower after mixed performance
The American Petroleum Institute (API) is scheduled to issue its weekly report later.
2 hours ago Gold records first gains in four days
Concerns regarding the Turkish economic crisis are cooling down
3 hours ago Brexit deal should be flexible - Merkel
German Chancellor Angela Merkel said on Tuesday that any agreement between the United Kingdom and the European Union should be flexible
4 hours ago US household debt nearly triples in Q2
This is the 16th consecutive quarter of increases
14 August 06:24 PM 22 killed after highway bridge collapses in Italy
At least 22 people were killed after a motorway bridge collapsed on torrential rains that hit buildings in north Italy on early Tuesday.
14 August 05:33 PM US import inflation accelerates to 6.5-yr high in July
The costs of the US import remained flat in July after declining in June.
14 August 05:03 PM Erdogan urges Turks to boycott US electronics     
Turkish President Recep Tayyip Erdogan on Tuesday stated that his country will boycott US electronic products, including Apple’s iPhones.
In the first half of 2018, the company logged KWD 3.67 million in profits
14 August 04:34 PM Al Kout Industrial Q2 profits slide 21%
Mubasher: Al Kout Industrial Projects on Tuesday posted a 20.7% year-on-year decline in profits for the second quarter of 2018. Net profit amounted to KWD 1.57 million ($5.18 million) in Q2-18, versus KWD 1.98 million ($6.54 million) in the …
The deficit in the services balance went up to KWD 1.9 billion
14 August 04:31 PM Kuwait’s current account hits KWD 1.7bn in Q1
Kuwait – Mubasher: Kuwait’s current account surged to KWD 1.7 billion ($5.58 billion) in the first quarter of the fiscal year 2018/2019, its highest level in three years, compared to KWD 1.2 billion in the previous quarter.   The Kuwaiti trade …
KAMCO intends to buy around 396.43 million shares from Global
14 August 04:30 PM KAMCO to acquire 70% of Global Investment House
Mubasher: KAMCO Investment (KAMCO) on Tuesday announced receiving the approval of the Capital Markets Authority (CMA) to acquire the majority of Global Investment House (Global). KAMCO intends to buy around 396.43 million shares from Global, which …
Ream Real Estate Q2 profits slump 70%
14 August 04:10 PM Ream Real Estate Q2 profits slump 70%
Mubasher: Ream Real Estate Co on Tuesday reported a 69.8% year-on-year decline in net profits for the second quarter of 2018, recording KWD 72,420 ($238,930) from KWD 240,16 ($792,340). Operating revenues fell by 36.6% in the three-month period …
Net losses amounted to KWD 2.58 million in Q2-18
14 August 04:08 PM IFA Hotels Q2 losses fall 28%
Mubasher: IFA Hotels and Resorts (IFA) on Tuesday posted a 28% year-on-year drop in its losses for the second quarter of 2018. Net losses amounted to KWD 2.58 million ($8.15 million) in Q2-18, compared to KWD 3.57 million ($11.78 million) in …
14 August 03:57 PM Ithmaar Holding achieves $10.8m profit in 6M
Kuwait – Mubasher: Ithmaar Holding has reported a net profit of $10.82 million in the first six months of 2018. The Dubai-, Bahrain-, and Kuwait-listed company also registered earnings per share (EPS) of $0.32 in H1-18, according to a bourse …
14 August 03:47 PM US small business owner morale hovers record high in July
Positive sentiment among US small businesses saw an improvement in July, recording the second highest level in history.
14 August 03:09 PM German economic morale improves in August
German economic confidence saw a more-than-expected a resilient gain in August, survey data showed on Tuesday.
Jazeera Airways recorded KWD 1.8 million ($5.94 million) net profits in Q2-18
14 August 02:52 PM Jazeera Airways Q2 profits fall, H1 income rises 6%
Mubasher: Jazeera Airways posted a decline of 23.6% in profits during the second quarter of 2018 compared to the same period in the prior year, according to an official statement on Tuesday. The airline company recorded KWD 1.8 million ($5.94 …
The growth in H1 profits is attributed to lower operating expenses
14 August 02:38 PM National Cleaning posts higher income in Q2, H1
Mubasher: National Cleaning reported an increase of 42.7% in profits during the second quarter of 2018 compared to the same period last year. Earnings grew to about KWD 356,880 ($1.18 million) in Q2-18, from about KWD 250,140 ($825,870) in Q2-17, …
14 August 02:38 PM Canada’s largest builder faces new growth risk amid Saudi spat
As the diplomatic feud between Canada and Saudi Arabia is escalating, one of the major pillars of SNC-Lavalin Group’s growth plans stood at stake.
Earnings declined to KWD 468,000 ($1.55 million) in Q2-18
14 August 02:13 PM Tamdeen Real Estate H1 profits shrink to KWD 5m
Mubasher: Tamdeen Real Estate reported a drop of 55% in profits during the second quarter of 2018 compared to the same period in the previous year. Earnings declined to KWD 468,000 ($1.55 million) in Q2-18 from KWD 1.04 million ($3.43 million) in …
KMEFIC headed the winners with 12%
14 August 01:16 PM Boursa Kuwait in green at Tuesday’s close
Mubasher: The indices of Boursa Kuwait closed Tuesday’s trading session with incline, as the All-Share and Main markets went up 0.06% and 0.19%, respectively, while the Premier Market was quite unchanged. The technology segment topped six gainers …
14 August 01:12 PM Eurozone industrial output drops 0.7% in June, EU28 0.4%
The Eurozone's industrial production declined 0.7% in June, compared with the previous month, data showed on Tuesday.
14 August 12:53 PM Germany’s economic growth accelerates in Q2 amid cautious outlook
Germany’s economic growth gained momentum in the second quarter of 2018, official data showed on Tuesday.
14 August 12:47 PM Updated Eurozone, EU28 Q2 economic growth confirmed at 0.4%
Gross domestic product (GDP) in Eurozone and the 28-member European Union (EU28) rose 0.4% in the second quarter of 2018, compared with the previous quarter.
Earnings increased to KWD 1.36 million ($4.5 million) in Q2-18
14 August 12:46 PM KCPC profits jump 433% in H1 on higher operating income
Mubasher: Kuwait Company for Process Plant Construction and Contracting (KCPC) recorded a leap of 541.7% in profits during the second quarter of 2018 compared to the same period in the prior year. Earnings increased to KWD 1.36 million ($4.5 …
The bonds will be matured in three months on 13 November
14 August 12:32 PM Kuwait C.bank issues KWD 160m bonds
Mubasher: The Central Bank of Kuwait (CBK) has issued bonds and securities valued at KWD 160 million ($527.87 million) on Tuesday. Kuwait’s central bank noted that this bond issue has a yield of 2.50%, according to a recent statement. The bonds …