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The GCC is forecast to witness an economic recovery
3 hours ago Gulf states's GDP expected to contract by 5.9% in 2020
Mubasher: The gross domestic product (GDP) of the Arabian Gulf countries is expected to retract by 5.9% in 2020 when compared to 2019, as the world economy is suffering from the consequence of the coronavirus (COVID-19) pandemic. Fiscal deficit in …
Emirates Airline is set to lay off some employees amid the COVID-19 crisis
4 hours ago Emirates foresees recovery of airline industry by June 2021
Dubai - Mubasher: Emirates airline President, Tim Clark, expects the airline industry to see a recovery as of June of next year, after being affected by the coronavirus (COVID-19) pandemic, according to Zawya. Clark made the announcement …
Turnover amounted to KWD 24.13 million on Monday
5 hours ago Two sectors push Boursa Kuwait higher on Monday
Mubasher: Boursa Kuwait closed Monday’s trading in the green zone, with the All-Share and Premier markets levelling up by 0.22% and 0.26%, respectively, and the BK 50 and Main indices inching up 0.02% and 0.11%, respectively. Meanwhile, traded …
COVID-19 recoveries in Kuwait reached 12,899 on Monday
01:21 PM Coronavirus infections in Kuwait up 719 cases on Monday
Mubasher: Kuwait has registered 719 new cases of the coronavirus (COVID-19) on Monday, bringing the total number to 27,762 so far, according to an official disclosure by the Ministry of Health. The number of recoveries surged by 1,513 over the …
The USD went up to EGP 15.86 for buying at NBE
01:15 PM USD almost hits EGP 16 at local banks on Monday
Cairo – Mubasher: The US dollar continued to increase against the Egyptian pound during early trading at local banks on Monday, almost hitting EGP 16 for the first time in five months. The USD went up to EGP 15.86 for purchasing and EGP 15.96 for …
Six flights from Kuwait will land in Cairo today
12:41 PM Egypt to bring home 1,643 Egyptians from Kuwait today
Mubasher: The Egyptian authorities will repatriate 1,643 nationals stranded in Kuwait on Monday, 1 June, via seven flights, Middle East News Agency (MENA) reported.   The Directorate General of Civil Aviation (DGCA) said that six flights will head …
The announcement has no material impact on KMEFIC’s financial position
09:25 AM KMEFIC’s CEO resigns
Mubasher: Kuwait and Middle East Financial Investment (KMEFIC) announced that the company’s CEO, Adel Fahad Al Humaidhi, had recently submitted his resignation. The resignation is effective as of 1 June, according to a stock exchange statement on …
Kuwait's COVID-19 infections reached 27,043 on Sunday
31 May 04:43 PM Kuwait’s army isolates Farwaniya area
Mubasher: The duty force (Sanad) affiliated to the Kuwait Armed Forces on Sunday isolated Farwaniya area in implementation of the cabinet’s decisions regarding complete territorial isolation of some new districts across the country. The move …
Boursa Kuwait’s liquidity totalled KWD 440.35 million in May
31 May 04:15 PM Boursa Kuwait’s Premier index adds 68 pts in month
By: Mohamed Farouk  Mubasher: The Kuwaiti indices closed May 2020 on a mixed note amid thin traded when compared to April as the official business days were reduced to 18 due to Eid Al Fitr holiday. Month-on-month (MoM), the Premier Market …
Photo Archive
31 May 04:01 PM Tadawul lists AlBilad Gold ETF
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced the listing and trading units of “AlBilad Gold ETF” as an exchange-traded fund (ETF). on Tuesday 2 June 2020. The units if the fund will be traded under the symbol 9405. The Saudi …
The liquidity slipped to KWD 19.8 million on Sunday
31 May 02:10 PM Boursa Kuwait closes Sunday down
Mubasher: Boursa Kuwait showed a negative performance at the end of Sunday’s trading session as the All-Share and the Premier markets sank by 0.46% and 0.57%, respectively, and the Main and the BK 50 indices fell by 0.17% and 0.26%, respectively. …
A total of 15,445 patients are currently receiving treatment at hospitals
31 May 01:35 PM Kuwait reports 851 new coronavirus cases, 1,230 recoveries
Mubasher: Kuwait on Sunday reported 851 more cases of the new coronavirus (COVID-19) and seven new deaths, taking the tally to 27,043 infections and 212 fatalities, according to an official statement by the Ministry of Health. The recoveries from …
Butane prices for June have been reduced to $330 a tonne
31 May 01:21 PM Saudi Aramco raises propane price for June, lowers Butane
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has increased the price of its propane futures for June delivery to $350 a tonne from $340 in May, a pricing document reported by Reuters showed on Sunday. Butane prices for June have …
KIPCO owns a 87.6% stake in OSN
31 May 10:30 AM KIPCO reclassifies investment in OSN to subsidiary
Mubasher: The Board of Directors of Kuwait Projects Holding (KIPCO) has reclassified the company’s investment in OSN to an investment in a subsidiary form a joint-venture (JV) classified as held for sale. The new subsidiary will consolidate in …
The UAE's oil production in May came in line with the OPEC+ agreement
31 May 10:19 AM UAE delivers 2.4m bpd in May
UAE - Mubasher: The UAE has produced 2.40 million crude oil barrels per day (bpd) in May, a source told Reuters. The UAE's oil production in May came in line with OPEC+ agreement to cut oil supply by 9.7 million bpd as of 1 May, due to a decrease …
ADIA ranking was followed by Kuwait's KIA on the SWFI global list
31 May 09:57 AM Abu Dhabi, Saudi sovereign wealth funds among world's largest
UAE - Mubasher: Abu Dhabi Investment Authority (ADIA) came in third place among the world's largest sovereign wealth funds with total assets of $579.6 billion, according to a report by the Sovereign Wealth Fund Institute (SWFI). ADIA's rankings by …
The profits fell by 8% during the fourth quarter of last year
31 May 09:17 AM KIPCO’s earnings up 6% in 2019; dividends proposed
Mubasher: Kuwait Projects Holding (KIPCO) has achieved net profits worth KWD 30.01 million in the fiscal year (FY) 2019, up by 6% from KWD 28.28 million in the previous year. During the fourth quarter (Q4) of last year, the profits went down by …
The laid-off employees represent 25% of the total workforce
28 May 05:48 PM Kuwait Airways to lay off 1,500 foreign employees
Mubasher: Kuwait Airways decided to lay off 1,500 non-Kuwaiti employees or 25% of its workforce due to the repercussions of coronavirus (COVID-19) on the aviation sector.  The state-owned air carrier was forced to take this decision as part of a …
The per-litre price of Super 98 gasoline will be maintained at AED 1.91
28 May 05:31 PM UAE announces fuel prices for June
UAE – Mubasher: Fuel prices will remain unchanged in June in the UAE when compared to prices in May, the UAE Fuel Price Follow-up Committee announced. The per-litre prices of Super 98-octane gasoline, Special 95-octane gasoline, diesel, and E-Plus …
The turnover dropped to KWD 38.39 million
28 May 04:19 PM Boursa Kuwait ends Thursday mixed amid thin liquidity
Mubasher: The indices of Boursa Kuwait closed Thursday’s trading on a varied note amid low liquidity. The Main Market, All-Share Market, and BK 50 indices fell by 0.22%, 0.03%, and 0.25%, respectively, while the Premier Market index grew by …
Total active cases amounted to 15,229
28 May 01:49 PM Kuwait announces 845 new coronavirus cases
Mubasher: The Kuwaiti Ministry of Health on Thursday announced that 845 new cases tested positive for coronavirus (COVID-19), taking the tally to 24,112. The number of recoveries increased by 752 in the past 24 hours to 8,698, while the death toll …
Brent crude oil for July delivery retreated by 4.6% or $1.65
28 May 10:58 AM Kuwait’s crude oil down to $28.05 pb – KPC
Mubasher: The price of Kuwait’s crude oil fell by 56 cents to $28.05 per barrel (pb) on Wednesday from $28.61 pb on Tuesday, according to the official prices released by Kuwait Petroleum Corporation (KPC). Globally, Brent crude oil for July …
The global oil market has been supported by OPEC’s output cut deal
27 May 05:57 PM Kuwait’s crude oil rises $2.14 pb on Tuesday - KPC
Mubasher: The price of Kuwait’s crude oil reached $28.61 per barrel (pb) on Tuesday, 26 May, up by $ 2.14, compared to $26.47 pb last Friday, according to the official prices released by Kuwait Petroleum Corporation (KPC). The global oil market …
Net operating losses increased to KWD 830,040
27 May 04:47 PM Abyaar's losses halve in 2019
Mubasher: Abyaar Real Estate Development reported a 50% year-on-year (YoY) drop in its net losses during 2019. The company suffered net losses of KWD 15.78 million ($51.2 million) last year, down from KWD 31.67 million ($102.7 million) in 2018, …
The issuance is part of a Sukuk programme at a maximum value of $2 billion
27 May 03:56 PM Warba Bank receives regulatory approval for KWD 150m Sukuk
Mubasher: Warba Bank has received approval from the Central Bank of Kuwait and the Capital Markets Authority (CMA) for the second issuance of Sukuk at a value not exceeding KWD 150 million. The issuance is part of a Sukuk programme at a maximum …