Kuwait news

19 February 07:36 PM JP Morgan head’s paycheck tops counterparts for 2nd straight year
JP Morgan's chairman Jamie Dimon maintained his rank on top of Wall Street banks' highest-paid CEOs list
19 February 06:39 PM Alibaba, Tencent go neck-and-neck in China retail acquisitions
China's top tech companies Alibaba and its rival Tencent Holdings are competing fiercely in the retail market
Annual revenues for Dubai hotels will reach $495 million by 2019
19 February 05:56 PM Dubai luxury spas to grow by 10.7% to 2021; Oman, Bahrain outperform
Dubai - Mubasher: Dubai’s 5-star hotel spas are expected to grow by a 10.7% compound annual growth rate (CAGR) by 2021, according to data released by Colliers International. The number of 5-star hotel spas in Dubai is set to rise to 157 by 2021 …
19 February 05:48 PM Venezuela to launch pre-sale of “petro” cryptocurrency
Venezuela's government on Monday announced it would issue a pre-sale of a commodity-backed new digital currency
19 February 04:52 PM Emirates extends shirt sponsorship deal with Arsenal until 2024
Dubai airline's deal with the  Premier League club will be extended until the end of 2023/2024 season.    
19 February 04:31 PM QNB sees oil prices at $65 pb in 2018
QNB upgraded its forecasts for crude oil prices despite the recent fall
Profits shrank by 90% to approximately KWD 90,030 in FY17
19 February 04:02 PM Wethaq Insurance FY17 profits plunge 90%
Mubasher: Wethaq Takaful Insurance incurred a loss of about KWD 66,570 ($222,910) in the fourth quarter of 2017 against profits worth nearly KWD 228,510 ($765,150) in the same quarter in 2016. During fiscal year 2017, profits shrank by 90% to …
19 February 03:16 PM China warns Trump against tariffs over steel, aluminum exports
China's government warned US President Donald Trump against imposing tariffs over metal exports
Individuals' loans recorded an increase of 4.4%
19 February 02:25 PM Kuwait’s banking credit grow 3.2% in December 2017 – KFH
Mubasher: Loans provided by banks operating in Kuwait increased by 3.2% in December 2017 compared to the same period of prior year, according to a recent report by Kuwait Finance House (KFH). Bank loans registered KWD 35.4 billion in December 2017 …
19 February 02:14 PM Dollar rebounds from 3-year low amid Fed holiday
The US dollar on Monday recovered as the Federal Reserve Bank and US stock and treasury markets were in a holiday
19 February 01:49 PM Europe’s current account surplus shrinks in December
The Eurozone’s current account surplus narrowed more than expected in December=
Ithmaar was the most active stock on which 10.4 million shares were traded
19 February 01:28 PM Boursa Kuwait indices close Monday mixed amid higher liquidity
Mubasher: The indices of Boursa Kuwait closed Monday’s trading session with a mixed performance, while the benchmark index registered its third decline in a row. The main price index retreated by 0.15% or 10 points to close at 6,711.04 points. …
19 February 01:12 PM Germany’s Daimler said to be cheating emission tests -Newspaper
German automaker Daimler may have used emission-cheating software to pass tests on Diesel Vehicles
Engineering works are expected to complete in November 2020
19 February 01:10 PM Local engineering firm wins $71m deal from KOC
Mubasher: Mechanical Engineering & Contracting Co. (MECC) was awarded a contract worth $71 million by Kuwait Oil Co (KOC), Al Qabas reported according to MEED. The contract will be executed based on the system of engineering, supply, and …
19 February 12:33 PM Ultra-rich should pay “significantly higher” taxes - Bill Gates
Microsoft magnate Bill Gates believes that ultra-rich people like him should be paying "significantly higher taxes".
19 February 11:57 AM Oil prices rise Monday, may be “tested”
Oil prices traded higher on Monday, extending gains from last week when prices had rebounded on stronger investor sentiment
The average price for the transaction stood at KWD 0.23567 per share
19 February 11:46 AM Bukhamseen continues to buy stake in KIB
Mubasher: Bukhamseen Holding has purchased nearly 817,790 shares in Kuwait International Bank (KIB) on Sunday, 18 February. The average price for the transaction stood at KWD 0.23567 per share, at a total value of about KWD 192,730, the company …
KGL Transportation is an associate of KGL Logistics
19 February 11:32 AM Kuwait Ports to pay KWD 2.7m to KGL Transportation
Mubasher: The Kuwaiti court has issued a ruling against the Kuwait Ports Authority (KPA) in favor of KGL Transportation Co, an associate of both KGL Logistics and Kuwait and Gulf Link Transport (KGL). The Ports Authority was ordered to pay KWD 2.7 …
After the acquisition, QIMC’s ownership in GFC rose to 30%
19 February 10:46 AM QIMC acquires United Development's stake in GFC
Mubasher: Qatar Industrial Manufacturing Company (QIMC) on Monday announced that it has completed the purchase of United Development Company’s (UDC) stake in Gulf Formaldehyde Company (GFC). QIMC bought 400 shares of UDS’s stake in GFC, which …
Boursa Kuwait’s turnover amounted to KWD 4.92 million
19 February 10:18 AM Boursa Kuwait indices open Monday mixed
Mubasher: The indices of Boursa Kuwait started Monday’s trading session with a mixed performance; the benchmark price index lost 0.13% or 8.9 points to 6,712.07 points. By 9:57am Kuwait time, both the weighted and Kuwait-15 indices went up 0.01% …
Bayan achieved a profit of nearly KWD 33,420 in FY17
19 February 10:03 AM Bayan Investment FY17 financials turn profitable
Mubasher: Bayan Investment reported a decline of 88.8% in losses during the fourth quarter of 2017 compared to the same period in the prior year. Losses decreased to about KWD 36,380 ($121,820) in Q4-17 from approximately KWD 323,730 ($1.08 …
HEISCO was awarded a five-year contract
19 February 09:56 AM HEISCO inks KWD 21m deal with ministry
Mubasher: Heavy Engineering Industries and Shipbuilding (HEISCO) has signed a tender contract worth KWD 20.75 million ($69.5 million) with the electricity and water ministry, according to a bourse statement on Monday. A week ago, HEISCO noted that …
GFH will hold its board meeting on 25 February
19 February 09:45 AM GFH to consider Ahmed Al Mutawa resignation late February
Mubasher: GFH Financial Group will hold its board meeting on Sunday, 25 February, to discuss the resignation of the deputy chairman Ahmed Al Mutawa from his membership in the boards of GFH, Khaleeji Commercial Bank, and GFH Capital Limited. The …
Earnings increased to KWD 640,000 ($2.14 million) in Q3
19 February 09:22 AM Burgan Drilling Q3 profits increase 5%
Mubasher: Burgan Company for Well Drilling, Trading and Maintenance reported a growth of 5% in profits during the third quarter ended 31 December 2017 compared to the same period in the previous fiscal year. Earnings increased to KWD 640,000 …
The group’s premiums value registered a growth of 42.9% in FY17
18 February 03:42 PM Gulf Insurance FY17 profits decline 14%; dividends proposed
Mubasher: Gulf Insurance Group reported a drop of 14.3% in profits during fiscal year 2017 compared to the previous fiscal year. Earnings decreased to KWD 10.3 million ($34.5 million) in FY16 from KWD 12 million ($40.2 million) in FY16, according …