Kuwait news

The Central Bank of Kuwait
3 hours ago Financial stability cannot be in place of reforms - CBK
Mubasher: The governor of the Central Bank of Kuwait (CBK) said on Tuesday that the stability of the local currency market is not adequate nor is it a replacement for much needed structural and economic reforms. Mohammad Al-Hashel said during his …
Photo Archive
3 hours ago Kuwaiti government saved KWD1bn in 16/17 - Minister
Kuwait - Mubasher: The Kuwaiti deputy Prime Minister and minister of finance, Anas Al-Saleh said on Tuesday that despite challenges facing the Kuwaiti economy, over KWD 1 billion ($3.27 billion) were saved in the government’s expenditure between …
The Central Bank of Kuwait
26 September 06:37 PM CBK issues KWD140m t- bonds
Kuwait - Mubasher: The Central Bank of Kuwait (CBK) announced on Tuesday issuing six-month treasury bonds worth KWD 140 million. CBK said that the return on the bonds amounted to 1.87%, and that it was oversubscribed by 5700%, with total demand …
The delisting decision is due to the incapability of raising its capital to KWD 10 million
26 September 05:42 PM Kuwait Gypsum to consider delisting late October
Mubasher: Kuwait Gypsum Manufacturing and Trading will hold its board meeting on 27 October to discuss its withdrawal from Boursa Kuwait (Parallel Market). On 21 February, the board members approved the recommendation of delisting from the stock …
The board decided not to acquire Sweets and Restaurants Zalatimo
26 September 05:33 PM Ajwan board nods to KWD 1.2m takeover deals
Mubasher: The board of Ajwan Gulf Real Estate approved acquiring two companies for a total of KWD 1.2 million. The real estate firm will acquire International Expertise Catering Co and a 70% stake in Emaar Food Group Co., according to a bourse …
Alwaleed has topped the same list for nine years in a row
26 September 04:48 PM Alwaleed tops list for most influential Arabs
Riyadh - Mubasher: Prince Alwaleed bin Talal has been ranked number one in Middle East Magazine’s 2017 list of the World’s 50 Most Influential Arabs, for the ninth consecutive year. The chairman of Kingdom Holding Company (KHC) and Alwaleed …
This investment aims to develop the purchased land plots in the coming five years
26 September 03:36 PM United Real Estate injects KWD 19.8m in Hessah Al Mubarak
Mubasher: The board members of United Real Estate agreed on investing in a property firm owning a number of land plots of various purposes among the Hessah Al Mubarak project. The participation in this investment accounts for 33.3% or KWD 19.8 …
Boursa Kuwait’s turnover shrank by 47.3% to KWD 15.15 million on Tuesday
26 September 03:03 PM Boursa Kuwait indices mixed at Tuesday close
By: Mohamad Farouk Mubasher: The indices of Boursa Kuwait closed Tuesday’s session with a mixed performance; the price index went down 0.04% or 2.82 points to close at 6,764.7 points. Meanwhile, both the weighted and Kuwait-15 indices gained 0.18% …
The price of Brent crude oil rose by 4%
26 September 12:08 PM Kuwait crude oil up 56 cents Monday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 56 cents to reach $54.06 per barrel (pb) on Monday compared to $53.50 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). The price of Brent crude oil …
This one-day event is held in partnership with the finance ministry
26 September 11:39 AM Kuwait hosts 9th Euromoney Kuwait Conference
Mubasher: The ninth installment of the Euromoney Kuwait Conference will start on Tuesday, under the theme of “Establishing New Kuwait”. This one-day event is held in partnership with the finance ministry, offering various discussions and debates …
Boursa Kuwait’s turnover stood at KWD 5.33 million
26 September 10:35 AM Boursa Kuwait opens Tuesday in green zone
By: Mohamad Farouk Mubasher: The benchmark price index of Boursa Kuwait started Tuesday’s trading session 0.22% or 15.2 points to reach 6,782.71 points. Similarly, both the weighted and Kuwait-15 indices went up 0.38% and 0.51%, respectively. The …
This project is expected to be accomplished by the third quarter of 2020
26 September 10:18 AM Larsen and Toubro wins KWD 262m deal from KOC
Mubasher: Larsen and Toubro was awarded a contract valued at KWD 262 million from Kuwait Oil Company (KOC) to build a new pipeline for transferring crude oil from North Kuwait to Al Ahmadi area in the South. This project is expected to be …
A rise in credit risk along with the lower oil prices continue to be major constraining factors
26 September 09:39 AM Capital Intelligence affirms GFH rating; outlook ‘stable’
Mubasher: GFH Financial Group on Tuesday said that Capital Intelligence Ratings has confirmed the bank’s long-term rating at ‘BB’ and short-term rating at ‘B’. The ratings agency gave the Bahrain-based bank a ‘stable’ outlook, GFH said in a filing …
The board will also approve results for the first nine months of 2017
26 September 09:14 AM GFH Group to discuss financials 12 November
Dubai - Mubasher: GFH Financial Group on Tuesday said its board was set to convene on Sunday, 12 November to discuss and approve the group’s financial results for the third quarter of 2017. The board will also approve results for the first nine …
Brent futures went up by 3.9% to $59.13 per barrel
26 September 01:13 AM Brent jumps 4%, breaks $59 level
Mubasher: Brent crude oil rose by 4% during Monday trade, surpassing the level of $59, amidst a dominant positive sentiment, as investors are optimistic regarding cutting output. By 9:34 PM (GMT), Brent futures went up by 3.9% to $59.13 per barrel …
Trump is expected to propose cutting corporate tax rate to 20%
26 September 12:27 AM Trump to unveil more tax reform details Wednesday
Mubasher: US president Donald Trump is set to reveal new details of his tax reform plan on Wednesday, according to the White House. The White House press secretary Sarah Huckabee Sanders said in a press conference on Monday that Trump will give a …
Gold futures went up by 1.1% to its highest level in 10 days
26 September 12:22 AM Gold prices surge on rising geopolitical risks
Mubasher: Gold prices have risen by the end of Monday trade, increasing by around $14 and exceeding the level of $1,300, as more geopolitical risks are rising with North Korea threatening to target American Aircrafts. Gold futures went up by 1.1%, …
Earnings growth shifts down a gear turning outlook on global oil and gas sector stable
25 September 11:42 PM Moody's expects lower return growth for oil, gas sectors
Mubasher: An expected slowdown in the pace of earnings growth has moved the 2018 outlook on the global integrated oil and gas industry to stable from positive, Moody's Investors Service said in a report published Monday. The slowdown follows a …
AccorHotels currently has more than 100 hotels in the MENA region
25 September 08:38 PM AccorHotels opened 12 new hotels in 2017
Dubai – Mubasher: AccorHotels announced on Monday that it has inaugurated 12 hotels so far this year, according to press release. The company’s hotels portfolio in MENA region has now surpassed more than 100 hotels. As per the statement, the new …
Khazzan Gas Field
25 September 06:22 PM BP launches production in Oman’s Khazzan gas field
Mubasher: BP announced on Monday that it has begun production at the Khazzan gas field in Oman, according to a company statement. The Omani oil and gas minister said that BP has successfully delivered the first phase of the project on time, adding …
Kuwaitis have purchased 135 houses in August
25 September 05:53 PM Kuwaitis’ property buys in Turkey up 4.9% in August
Mubasher: The volume of properties sold in Turkey to Kuwaiti citizens decreased by 4.9% in August compared to July; however, Kuwaiti buyers have remained the third largest purchasers of real estate in Turkey. Kuwaitis have purchased 135 houses in …
Brent futures rose by 1.4% to $57.67 per barrel
25 September 03:52 PM Brent surges to highest level since mid-2015
Mubasher: Brent crude oil expanded its gains during Monday trade, reaching its highest level in more than two years, with investors showing a positive sentiment regarding the output limitation agreement. Brent futures rose by 1.4% to the level of …
Sales of the residential real estate segment in Kuwait improved by 23% in 8 months
25 September 03:44 PM Kuwait property sales decline 5.4% in 8M – NBK
Mubasher: The sales of the real estate sector in Kuwait shrank by 5.4% since the beginning of this year until August on an annual basis, with expectations for a further fluctuation in the investment and residential real estate segments for the …
The banks segment led eight decliners with 1.12%
25 September 02:24 PM Boursa Kuwait indices close Monday lower
By: Mohamad Farouk Mubasher: The indices of Boursa Kuwait closed Monday’s trading session in the red zone, for the third session in a row. The price index lost 0.41% or 27.75 points to close at 6,767.52 points; the weighted index retreated 1.21% …
The prospectus will be disclosed long enough before starting the IPO of Awazel
25 September 01:48 PM Saudi CMA nods to Boubyan Petrochemical’s associate IPO
Mubasher: Boubyan Petrochemical said that the Saudi Capital Market Authority (CMA) approved on 21 September issuing 8.19 million of Arabian Waterproofing Industries Co.’s (Awazel) shares for the initial public offering (IPO). This stake represents …