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Kuwait news

Kuwait's exports to Japan hit $649m
18 September 07:45 PM Kuwaiti trade surplus with Japan goes down 18% in August
Mubasher: Kuwait's trade surplus with Japan declined by 18.3% year-on-year to $552 million in August, according to Kuwait News Agency (KUNA). Kuwaiti exports to Japan went down by 18.2% year-on-year to $649 million in August, while the GCC …
Global's EGM approves merger with KAMCO
18 September 05:57 PM KAMCO forecasts $24.5m decline in retained earnings
Mubasher: KAMCO Investment Company has expected a KWD 7.46 million ($24.53 million) decline in retained earnings after the extraordinary general meeting (EGM) of Global Investment House nodded to a capital decrease, according to a bourse statement …
18 September 05:34 PM US crude oil inventories rise as futures extend drop
Mubasher: US crude oil stockpiles climbed by 1.1 million barrels to 417.1 million barrels in the week ended 13 September.
The new issue has reflected the positive response from investors
18 September 05:15 PM Warba Bank issues $500m sukuk; oversubscribed 6.3 times
Mubasher: Warba Bank announced the issue of $500 million unsecured sukuk for a specific period of five years. This issue is the first of its kind to be issued from a Kuwaiti financial entity, and it will be listed on Nasdaq Dubai and the Irish …
18 September 05:06 PM Trump orders to ‘substantially’ tighten sanctions on Iran
Mubasher: US President Donald Trump on Wednesday said he ordered the Treasury Department to “substantially increase” sanctions against Iran, according to CNBC.
18 September 04:29 PM US bond yields fall before Fed’s policy decision
Mubasher: US debt bond yields dropped on Wednesday, amid expectations of a second interest rate cut is expected.
Global accepted its board’s recommendation to merge with KAMCO
18 September 04:24 PM Global approves merger with KAMCO
Mubasher: The extraordinary general meeting (EGM) of Global Investment House has discussed the matters pertaining to the draft merger with KAMCO Investment Company during its meeting on 18 September 2019. Global’s shareholders have approved the …
The deal was concluded at a total value of $631 million
18 September 04:01 PM Aramco acquires Shell’s stake in Saudi refining JV for $631m
Riyadh – Mubasher: The Saudi oil giant Aramco has completed the acquisition of Shell’s 50% stake in their Saudi Aramco Shell Refinery Co (SASREF), affiliated to Shell Saudi Arabia Limited, situated in Jubail Industrial City. The deal was concluded …
18 September 03:48 PM Updated US private housing permits climb in August
Mubasher: US housing units authorised under building permits surged by 7.7% last August to an adjusted annual rate of 1.419 million.
18 September 03:18 PM UK on course for no-deal departure – EU warns
Mubasher: London’s ideas for solving the sticking point of the Irish border seemed unlikely to help in reaching an agreement ahead of the departure.
Boubyan Bank's profits jumped to KWD 28.87 million in H1-19
18 September 03:01 PM Moody’s affirms Boubyan Bank’s rating at 'A3'; Outlook 'Stable'
Mubasher: Moody’s Investors Service has reviewed the status of Boubyan Bank and issued a recent report affirming the ratings previously assigned, with a 'Stable' outlook. Moody’s affirmed Boubyan’s long-term deposits rating at ‘A3’, according to a …
Government sector deposits levelled up by 4.5%
18 September 02:31 PM Kuwait’s total bank deposits rise 1.2% YoY in July
Mubasher: Total deposits at Kuwait-based banks grew by 1.2% year-on-year to KWD 43.6 billion in July, declining by 0.9% month-on-month. Kuwait’s bank credit increased by 4.2% to reach KWD 37.8 billion in July, Kuwait Finance House (KFH) reported …
18 September 02:24 PM US Treasury outlines new foreign investment rules
Mubasher: The US Treasury Department proposed new regulations on foreign investment in US companies, with access to critical technology and sensitive infrastructure.
18 September 02:01 PM Gold declines before Fed decision; oil fall supports risk-on sentiment
Mubasher: Gold prices declined on Wednesday as investors anticipated hints on the US Federal Reserve's monetary policy easing approach.
Only two sectors grew
18 September 01:48 PM Geopolitics drags down Boursa Kuwait’s indices at Wednesday’s close
By: Muhammad Farouk Mubasher: The Boursa Kuwait’s indices declined at Wednesday’s close, as the repercussions of the geopolitical tensions maintained its role in demoralising investors. The All-Share Market index went down by 106.63 points, or …
18 September 01:17 PM UK house prices rise at slowest pace since 7 yrs
Mubasher: House prices in the UK rose during the 12-month period ended last July, at the slowest pace almost seven years.
Saudi US T-bills holdings rose by 0.67% MoM
18 September 12:58 PM Saudi Arabia raises ownership of US T-bills in July
By: El Sayed Gamal Riyadh – Mubasher: Saudi Arabia increased its holdings of US Treasury bills by 8.4%, or $14 billion, year-on-year, in July 2019. The kingdom’s ownership of US T-bills grew to $180.8 billion at the end of July, compared to $166.8 …
Ithmaar Holding is listed on three stock markets
18 September 12:58 PM Boursa Kuwait halts stocks from trading
Mubasher: Boursa Kuwait announced that it has suspended trading on the stocks of Tamkeen Holding Co and Ream Real Estate Co as they had not submitted the financial statements for the period ended on 30 June 2019. Moreover, Ithmaar Holding and …
18 September 12:39 PM Updated UK consumer inflation hits slowest pace since 2016
Mubasher: The UK’s consumer price index, the headline gauge for the country’s inflation, dropped to 1.7% year-on-year in August, from 2.1% in July.
SAFCO’s feedstock supplieso the company’s plants reached normal levels
18 September 12:29 PM SAFCO’s feedstock supplies reach normal levels
Riyadh – Mubasher: The Saudi Arabian Fertilizer Company (SAFCO) announced that the feedstock supplies to the company’s plants have reached normal levels as of Wednesday, 18 September 2019. Following the evaluation of the final effects, no …
Tasnee will continue working on evaluating the financial effects
18 September 12:28 PM Tasnee’s feedstock supplies curtailment drops to 25%
Riyadh - Mubasher: The National Industrialization Company (Tasnee) said that the shortage in its feedstock supply from Saudi Aramco improved as it went down to 25% approximately from 41%. The company’s feedstock supply is expected to reach normal …
18 September 12:22 PM Eurozone annual inflation stands still in August
Mubasher: Final reading suggested that the Eurozone annual inflation grew at 1% in August, unchanged from the rate in July.
18 September 12:11 PM Japan’s exports extend 9M declining-streak in August
Lenovo’s PC segment has a 25% market share in the UAE
18 September 12:04 PM Lenovo controls 38% of Egypt’s tablet market – Official
By: Fahd Omran Cairo – Mubasher: Revenues generated by Chinese technology firm Lenovo Group Ltd in Europe, Egypt, Jordan, Lebanon, and North and West Africa accounted for 25% of its total revenues which amounted to $51 billion for the fiscal year …
Yansab is still evaluating the final effects
18 September 12:00 PM Yansab feedstock supplies curtailment down to 17%
Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) announced that its feedstock supplies shortage dropped to 17% from 30% following Aramco’s terrorist attacks last Saturday. The feedstock supplies are expected to reach their normal …