Kuwait news

The GIC is equally owned by the governments of the six member states of the GCC
37 minutes ago Kuwait’s GIC credit backed by solid capital adequacy – Moody’s
Mubasher: The Gulf Investment Corporation's (GIC) credit profile is endorsed by solid capital adequacy and liquidity positions, Moody's Investors Service said in a report on Thursday. The GIC’s credit profile is backed by the company’s highly …
The operating profit from this order is estimated at 3% of the purchase order’s value
49 minutes ago Gulf Cable receives $19.39m deal from Hyundai Heavy Industries
Mubasher: Gulf Cable and Electrical Industries has received a purchase order worth $19.39 million (KWD 5.9 million) from Hyundai Heavy Industries, the world's largest shipbuilding company that is headquartered in South Korea. The operating profit …
The average sale price is 37.025 per share
1 hour ago ABK chairman sells 3.6m shrs in Aayan Leasing
Mubasher: The chairman of Al Ahli Bank of Kuwait (ABK), Talal Behbehani, who is a board member in Aayan Leasing and Investment has sold 3.6 million of Aayan’s shares during the trading session on Thursday. Boursa Kuwait on Thursday said that the …
The purchase transaction had a price ranging from 250 fils to 300 fils per share
1 hour ago Al Safat buys stake in Shuaiba Industrial
Mubasher: Boursa Kuwait announced that Al Safat Holding has purchased 400,000 of Shuaiba Industrial’s shares on Tuesday, 21 November. The purchase transaction had a price ranging from 250 fils to 300 fils per share, according to a bourse statement …
Italy’s debt has reached 130% of its GDP
3 hours ago 6 Eurozone members risk EU budget issues in 2018
Mubasher: The European Commission forecast that six Eurozone countries’ budgets may break the standard European Union (EU) deficit standards in 2018. Accordingly, the European Commission issued a warning to governments to remain within the …
Construction sector in the GCC surged 30% in 2017, a new study by MENA Research Partners (MRP) showed
3 hours ago GCC construction sector jumps 30% in 2017
Mubasher: Construction sector in the GCC surged 30% in 2017, a new study by MENA Research Partners (MRP) showed. The sector's undergoing projects amounted to $2.6 trillion, representing 160% of the GCC’s total growth domestic product (GDP), MRP’s …
Liquidity shrank by 19% to KWD 57.15 million in week
3 hours ago Boursa Kuwait declines in week amid lower liquidity
By: Mohamad Farouk Mubasher: The benchmark index of Boursa Kuwait retreated 1.11% or 70 points to reach 6,239.37 points by the week ended on 23 November compared to 6,309.31 points by the week ended on 16 November. The weighted index declined by …
c’s employment hits 17-yr high in November
3 hours ago Euro zone’s employment hits 17-yr high in November
Mubasher: Employment in the euro zone soared in November, registering its highest level in 17 years, according to the data of Purchasing Managers’ Index, IHS Markit Flash Eurozone PMI. Eurozone PMI Composite Output Index hit 57.5 points in …
Tesla to trial world’s largest battery storage facility
4 hours ago Tesla to trial world’s largest battery storage facility
Mubasher: Electric car maker Tesla Inc is to trial world's largest lithium ion battery facility in South Australia by December 2017. In July, Tesla announced that it would build the facility within 100 days. The new facility will be an important …
Al Mal stock declined to 29 fils
4 hours ago Al Mal comments on selling stake in KSA Hail Cement
Mubasher: Al Mal Investment has commented on the news recently spread over social media channels regarding selling a stake of Hail Cement Co.’s shares. The stake sold in the Saudi firm, Hail cement, is related to a client and was sold through an …
Eurozone economic activity hits 7-yr high in November
4 hours ago Eurozone economic activity hits 7-yr high in November
Mubasher: The Eurozone’s economic activity rose in the manufacturing and services segments in November from a month earlier, data released by IHS Markit for the Purchasing Managers’ Index (PMI) on Thursday showed. Eurozone activity rose to 57.5 …
The financial services segment topped six gainers with 0.7%
5 hours ago Boursa Kuwait closes Thursday higher; first rise in week
Mubasher: The indices of Boursa Kuwait on Thursday registered the first grouped rise in a week; the benchmark price index went up 0.16% or 10.16 points to close at 6,239.37 points. The weighted index edged up 0.28%, and the Kuwait-15 index added …
Boubyan Petrochemical owns a 56.67% stake in Educational
12:35 PM National Investments operates takeover of Educational
Mubasher: National Investments Co has collected 61.64 million of Educational Holding Group’s shares that represent 25.13% of the total issued shares. The value of the collected shares is KWD 18.98 million, Al Qabas Newspaper said, according to a …
Japanese stock market is closed on Thursday
11:49 AM Japanese stock market is closed on Thursday
Mubasher: The Tokyo Stock Exchange is closed on the Labor Thanksgiving Day, and it will resume its trades Friday. Japan and other countries across the world celebrate the Labor Thanksgiving Day by the end of each year. By 08:07 am GMT, JPY price …
The EIA disclosed that oil inventories decreased by 1.9 million barrels
11:01 AM Kuwait crude oil rises 70 cents Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil added 70 cents to settle at $59.88 per barrel (pb) on Wednesday compared to $59.18 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). Global oil prices declined …
Al Houri kept his membership in the board as a non-executive member
10:48 AM UPAC names new chairman
Mubasher: United Projects Company for Aviation Services (UPAC) held a board meeting on Wednesday when Hasan Bassam Al Houri submitted his resignation from the chairman position. Al Houri kept his membership in the board as a non-executive member, …
Oil prices down amid higher US oil rigs
10:37 AM Oil prices down amid higher US oil rigs
Mubasher: Oil prices dropped on Thursday, in line with investors’ anticipation of the Organization of the Petroleum Exporting Countries’ meeting next week and whether it will extend production cuts. Drillers of the US energy firms added nine oil …
Boursa Kuwait’s turnover amounted to KWD 2.4 million
10:29 AM Boursa Kuwait indices open Thursday mixed
Mubasher: The indices of Boursa Kuwait started Thursday’s trading session with a mixed performance; the benchmark price index edged up 0.11% or 7.1 points to reach 6,236.27 points. By 10:10am Kuwait time, the weighted index reached 394.89 points, …
The average price for selling this stake was 37.14 fils per share
10:19 AM ABK chairman sells 2.87m shrs in Aayan Leasing
Mubasher: The board chairman of Al Ahli Bank of Kuwait (ABK), Talal Mohammad Reda Yousuf Behbehani, who is the board member in Aayan Leasing and Investment has sold 2.87 million of Aayan’s shares on Wednesday, Boursa Kuwait disclosed in a bourse …
Gold prices surged by 0.8% on Wednesday
12:49 AM Gold prices rise $10 on Wednesday
Mubasher: Gold prices increased by more than $10 during Wednesday’s trade. The precious metal futures went up by 0.8% to 1292.2 per ounce. Gold gains were supported by the decline of the US dollar on the back of macroeconomic data.
Nymex futures jumped 2.1% on Wednesday
12:37 AM Nymex above $58 for 1st time since mid-2015
Mubasher: Oil prices saw significant increase at the end of Wednesday’s trade, as Nymex reached its highest level in two years, after data revealed a decline in US oil stockpiles. Nymex futures for January delivery rose by 2.1% to the level of …
The naval base will include a 300-metre L-shaped inland berthing port
22 November 06:53 PM UAE’s firm begins building a $90m naval base in Somalia
Mubasher: Divers Marine Contracting announced on Wednesday the beginning of constructing UAE’s new naval base in Somali, after winning a contract of $90 million in April, Arabian Business reported, citing company managing director Abdulla Darwish …
Saudi Arabia is the biggest producers among OPEC members
22 November 06:12 PM Saudi Arabia aims at extending OPEC deal to 2018-end
Riyadh - Mubasher: Saudi Arabia is said to be pushing for a nine-month extension of the oil production cut agreement, which will expire in March 2018, Reuters reported on Wednesday citing industry sources. The Organization of the Petroleum …
The company's stock now has a nominal value of 100 fils per share
22 November 06:02 PM Mena approves 58% capital cut
Kuwait - Mubasher: The extraordinary general meeting (EGM) of Mena Real Estate has approved reducing the company’s capital by KWD 11.4 million, from KWD 19.65 million to KWD 8.25 million, according to a bourse filing. The company said in a …
Chestertons takes over Downtown International
22 November 05:59 PM Chestertons takes over Downtown International
Mubasher: UAE-based property company Chestertons MENA on Wednesday announced that it completed the acquisition of Downtown International, a multinational real estate agency and broker for residential developments, in an effort to open up fresh …