Kuwait news

23 minutes ago Car giants axe 38,000 jobs as sales tumble – Report
Auto giants announced at least 38,000 layoffs over the past six months.
2 hours ago JLL leapfrogs in Fortune 500 list
The leap of the leading professional services firm was the second biggest move on the prestigious list.
Boursa Kuwait’s liquidity decreased by 1.5% to KWD 24.71 million
2 hours ago Boursa Kuwait ends Thursday on mixed note
Mubasher: The indices of Boursa Kuwait closed Thursday’s trading session with a mixed performance after the All-Share and Premier markets levelled down 0.46% 0.66%, repectively, while the Main Market index inched up 0.09%. The consumer goods …
2 hours ago Gold prices firm as trade blues, Fed approach support dollar
Trade tensions supported the dollar, while investors looked for a direction after the minutes of the Federal Reserve meeting indicated that rates would remain unchanged.
The summit will take place during the period between 10 and 11 September
3 hours ago Dubai to host ‘Future Manufacturing and Trade Summit 2019’ in September
UAE – Mubasher: Dubai will host the fourth edition of ‘Future Manufacturing and Trade Summit’ in September. The Middle East’s leading event will take place during the period between 10 and 11 September at the International Festival City, according …
3 hours ago German business morale falls in May on weak services
The German business climate index slid to 97.9 points in May, from the revised 99.2 in April.
Lebanon’s F&B Co. offers to buy Danah's 100% stake in Edafco
4 hours ago Danah receives $3.2m offers for stakes in Light Food, Edafco
Mubasher: Danah Al Safat Foodstuff announced receiving two offers to acquire its stakes in Light Food Company and Egyptian Dairy and Foodstuffs (Edafco). The Kuwaiti company has received a purchase offer from Alteco Company to buy its entire stake …
4 hours ago Eurozone business posts sluggish growth in May as demand stagnates
Factories in the Eurozone reported tougher conditions, as the output extended its contraction for the fourth month in a row.
NBK Research also predicts regional issuance to remain solid in 2019
4 hours ago GCC bond, sukuk issuance surges $32bn in Q1– NBK Research
Mubasher: The issuance of bonds and sukuk in the Gulf region has soared by $32 billion during the first quarter of 2019. The surge in Q1 bond and sukuk issuance in the GCC has raised outstanding debt in the region to $478 billion. Meanwhile, …
Boursa Kuwait’s turnover reached KWD 4.04 million
4 hours ago Boursa Kuwait opens Thursday on mixed note
Mubasher: The indices of Boursa Kuwait started Thursday’s trading session with a mixed performance after the All-Share and Premier markets shed 0.3% and 0.44%, respectively, while the Main Market index inched up 0.1%. By 11:00 am Kuwait time, the …
The financial impact of the divestment deal will be reflected in Q2 financials
5 hours ago Fujairah Cement exits from Sohar Cement
Abu Dhabi – Mubasher: Fujairah Cement Industries Company (FCI) completed the divestment from Sohar Cement Factory. The company noted that the financial impact of the divestment deal will be reflected in the financials of the second quarter of …
The USD-EGP exchange rate settled at EGP 16.9 for buying at NBE
5 hours ago USD stabilises against EGP early Thursday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Thursday at 18 banks. The USD rate remained stable at EGP 16.9 for buying and EGP 17 for selling at National Bank of Egypt (NBE), Banque Misr, and …
KNPC’s oil product stocks are enough for up to 25 days
5 hours ago Kuwait’s oil sector ready to face regional challenges – KNPC
Mubasher: Kuwait's oil sector has been ready to face challenges which may arise from current regional and international tensions, National Petroleum Company’s (KNPC) CEO said. KNPC’s oil product stocks are enough for up to 25 days, and the …
5 hours ago German private sector growth hits 3M-peak in May
Germany’s flash composite output index came in at 52.4 in May, up from 52.2 in April.
oil futures declined at Wednesday’s settlement on the back of higher US inventories
5 hours ago Kuwait’s crude oil price drops 45 cents on Wednesday
Mubasher: The price of Kuwait’s crude oil went down 45 cents to settle at $71.65 per barrel (pb) on Wednesday, compared to $72.10 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). Globally, oil futures declined …
5 hours ago Mining giant BHP sees ‘sooner-than-expected’ end to coal era
BHP Group will direct its focus to boost “value to shareholders” at its thermal coal mine in Australia and the Cerrejon business in Colombia.
Al Deera is seeking to achieve positive results over the coming period
10:34 AM Al Deera in talks to capitalise KWD 12.4m debts – chairman
Mubasher: Al Deera Holding Co. is negotiating with its lenders to capitalise KWD 12.36 million in debts, the company’s chairman said. These deliberations are part of the firm’s strategy to reduce expenses and financial burdens, Al Jarida reported, …
10:22 AM Oil falls on building US crude inventories amid economic fears
US crude inventories climbed by 4.7 million barrels in the week ended 17 May to 476.8 million barrels, hitting their highest level since July 2017.
Osoul will pump the proceeds in income-generating projects
10:07 AM Osoul to offload unprofitable assets – CEO
Mubasher: Osoul Investment Company is seeking to offload unprofitable assets, the company’s CEO said. Osoul will pump the proceeds in income-generating projects, Suleiman Ahmed Al Omairi told the company’s general assembly held on Wednesday. Al …
Oula Fuel is keen on pushing ahead with developing all stations
09:30 AM Oula Fuel reopens Al-Quran station
Mubasher: Oula Fuel Marketing Company has reopened its petrol station in Al-Quran region after upgrading the station’s infrastructure. The development involved raising the station’s efficiency, boosting environmental safety by installing vapor …
12:12 AM Oil ends lower on Wednesday  
Mubasher: Oil futures fell at Wednesday’s settlement, as US inventories rose.  
22 May 10:21 PM Gold goes up at Wednesday’s settlement   
Mubasher: Gold settled higher on Wednesday, as minutes from the Federal Open Market Committee showed near consensus over patient stance on interest rates.
KPBV will work closely with Pakistani national oil companies
22 May 09:41 PM Kuwaiti KUFPEC signs Petroleum Concession Agreement in Pakistan
Mubasher: Kuwait Foreign Petroleum Exploration Company (KUFPEC) on Wednesday announced that its subsidiary, Kirthar Pakistan B.V. signed a Petroleum Exploration License and Petroleum Concession Agreement for Block No. 3371-19 (Makhad) in Pakistan. …
22 May 03:04 PM UK house prices grow 1.4% in March
Annual house price growth in the UK picked up during March, the Office for National Statistics (ONS) said.
22 May 02:53 PM Japan’s exports fall for fifth month amid US-Sino trade disputes
The drop in exports was mainly ascribed to a 41% plunge in China-bound shipments of chip-making tools and semiconductor components.