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Kuwait news

21 February 07:32 PM Chinese solar industry may rebound in 2020
​​​​​​​Mubasher: The China Photovoltaic Industry Association (CPIA) expects the country’s new installations to reach a range between 35 and 45 gigawatts in 2020.
Trading volume dropped to 951.14 million shares
21 February 06:05 PM Boursa Kuwait’s indices fall in week
Mubasher: The Boursa Kuwait’s indices went down during the week ended 20 February 2020. The Premier Market index declined by 27.08 points, or 0.39%, to 6,871.28 points, while the BK Main 50 index lost 14.29 points, or 0.29%, to 4,962.26 points. …
Brent crude futures decreased by $0.64
21 February 04:42 PM Kuwait crude oil price grows by 56 cents on Thursday
Mubasher: The price of Kuwait’s crude oil rose by $0.56 per barrel (pb) on Thursday, compared to the day earlier.   Kuwait’s crude oil settled at $59.04 pb on Thursday, against $58.48 pb on Wednesday, according to the Kuwait News Agency. Brent …
The telecom sector was the key contributor to the CPI growth
20 February 05:47 PM Kuwait’s inflation up 1.68% YoY in January
Mubasher: Kuwait's inflation rate grew by 1.68% year-on-year (YoY) to 115.3 points in January from 113.4 points, according to data released by the Central Statistical Bureau (CSB) on Thursday. The telecommunications sector was the key contributor …
20 February 05:28 PM Global LNG demand forecast to double by 2024 – Shell
Mubasher: Global demand for liquefied natural gas (LNG) is forecast to double to 700 million tonnes by 2040.
20 February 05:09 PM Moody’s: Global investment banks spend $72bn annually to face fintechs
Mubasher: Global investment banks allocate $72 billion annually to develop their information technology (IT), including retail infrastructure and applications, to face threats by fintech companies.
20 February 04:57 PM Coronavirus adds pressures on Asia Pacific’s economy - Moody's
Mubasher: The outbreak of coronavirus contributes to slowing down the economic growth in Asia Pacific as it affected trade, tourism, and supply chains, Moody's referred.
20 February 04:55 PM Morgan Stanley to acquire E-Trade Financial Corporation for $13bn
Mubasher: American multinational investment bank Morgan Stanley has announced that it will acquire discount brokerage E-Trade Financial Corporation in a consideration of $13 billion.
The dividends will be reflected in the company’s Q4 financials
20 February 04:51 PM Boubyan Petrochemical gets KWD 17.4m dividend from EQUATE, Kuwait Olefins
Mubasher: Boubyan Petrochemical Company announced its share of cash dividends from EQUATE Petrochemical Company and the Kuwait Olefins Company. The Kuwaiti firm will receive dividends of EGP 17.42 million from the two companies in which it owns a …
Qurain owns 6% of the paid-up capital of the two companies
20 February 04:25 PM Qurain Petrochemical reveals dividend share from EQUATE, Kuwait Olefins
Mubasher: Qurain Petrochemical Industries Company announced that its share of dividends from EQUATE Petrochemical Company and the Kuwait Olefins Company for 2019 reached KWD 11.62 million. Qurain owns 6% of the paid-up capital of the two …
The company’s operating revenues fell to KWD 85.23 million
20 February 04:04 PM Kuwait Portland Cement’s profit dips 26% in 2019; dividends proposed
Mubasher: Kuwait Portland Cement reported a 26.4% profit decline to KWD 7.59 million ($24.88 million) in 2019 from KWD 10.32 million ($33.82 million) a year earlier. The company’s operating revenues amounted to KWD 85.23 million, falling by 19.5% …
Boursa Kuwait
20 February 01:43 PM Boursa Kuwait closes Thursday on positive note
Mubasher: Boursa Kuwait ended Thursday’s trading session in the green zone, as the Premier Market Index rose by 1.4%, while the All Share Index added 1.2%. Meanwhile, the Main Market Index went up by 0.51%, while BK Main 50 levelled up by 0.71%. …
The company achieved a KWD 1.21 million net profit for the fourth quarter
20 February 12:33 PM Al Madar profits down 91% in 2019
Mubasher: Al Madar Finance and Investment Company reported a 90.7% decline in annual profits to KWD 1.39 million ($4.56 million) in 2019, compared to KWD 14.88 million ($48.77 million) in 2018. The company achieved a KWD 1.21 million net profit …
Commercial Facilities achieved an increase of 32.7% in FY19 net profits
20 February 10:29 AM Commercial Facilities’ net profits rise to KWD 13m in 2019
Mubasher: Commercial Facilities Company recorded a 32.7% year-on-year (YoY) hike in net profits to KWD 13.181 million ($43.2 million) in 2019, compared to KWD 9.934 million ($32.55 million) in 2018. The increase in net profits is driven by the …
Earnings per share reached 7.7 fils
19 February 11:20 PM Warba Bank registers 30% YoY higher profit in 2019
Mubasher: Warba Bank has reported a 30% year-on-year profit increase during the fiscal year 2019. The bank’s net profit went up to KWD 16.5 million ($53.94 million) last year, compared to KWD 12.74 million ($41.65 million) in the year-ago period, …
19 February 09:27 PM UK citizens may not completely abandon cash – GlobalData
Mubasher: Cash use In the UK is rapidly declining, as more consumers adopt new means of payment such as contactless cards and mobile payments.
19 February 05:04 PM General Motors to lay off 1,500 employees in Thailand
Mubasher: General Motors is set to lay off around 1,500 employees in Thailand in June 2020, Reuters reported on Wednesday.
Positive annual earnings are due to higher net investment income
19 February 03:36 PM Kuwait Insurance annual profit up 6%; dividends proposed
Mubasher: Kuwait Insurance Company on Wednesday reported growing annual net profits by 6.34% on an annual basis for the year ended on 31 December 2019.   Profits increased to KWD 9.53 million by 2019 year-end when compared to KWD 8.97 million in …
Group Photo at the TRIGEM Charlotte Boiling Facility
19 February 03:26 PM DMCC opens TRIGEM’s fully certified Belgian diamond facility
UAE – Mubasher: Dubai Multi Commodities Centre (DMCC) has attended the inauguration of the TRIGEM’s fully certified Belgian diamond facility ‘Charlotte Boiling’ with a capacity of more than 1.4 million carats of diamonds per month. Located in …
The asset is located in Germany's Düsseldorf
19 February 03:14 PM Kuwait Investment partially exits EUR 11.5m asset in Germany
Mubasher: Kuwait Investment Company has partially existed from an asset in the German city of Düsseldorf at EUR 11.55 million or KWD 3.82 million approximately.   The remaining equity in the special purpose company will be reclassified to …
Liquidity stood at KWD 41.7 million on Wednesday
19 February 02:31 PM Kuwaiti indices down on Wednesday amid high turnover
By: Mohamed Farouk Mubasher: Boursa Kuwait registered a negative performance at the end of Wednesday's trading session, as the Premier and the All-Share indices dropped by 0.39%, each, while the Main and the BK Main 50 markets slid by 0.37% and …
Kuwait's exports to Japan rose by 54.2% YoY
19 February 01:56 PM Trade surplus between Kuwait, Japan soars 63% in January
Mubasher: Kuwait’s trade surplus with Japan leaped by 63.1% on an annual basis in January 2020, according to a report issued by Japan’s Ministry of Finance on Wednesday.  The trade surplus stood at 69.31 billion Japanese Yen ($631.33 million) last …
Global prices remained unchanged on Tuesday
19 February 11:41 AM Kuwait’s oil dips 77 cents on Tuesday – KPC
Mubasher: Kuwait’s crude oil price slid by 77 cents on Tuesday, 18 February, to settle at $57.18 per barrel (pb) as compared to $57.95 pb last Monday, according to official prices released by Kuwait Petroleum Corporation (KPC). Global prices …
A 2% higher return on investment (ROI) is expected
19 February 11:18 AM GFH to hold 6.3% stake in Dubai’s Marshal; CEO remains
Mubasher: Bahraini GFH Financial Group will hold a 6.3% stake in its newly-acquired investment, Marshal Equipment and Trading, a leading pan-MENA FinTech company, while the group’s investors will hold up to 63.7%.     Marshal’s existing owner will …
The deal has a term of five years
19 February 10:48 AM Napesco wins KWD 8m tender by KGOC, Saudi Arabian Chevron
Mubasher: National Petroleum Services (Napesco) was awarded a KWD 7.74 million ($25.4 million) tender by Kuwait Gulf Oil Company (KGOC) and the Kuwait-based Saudi Arabian Chevron Inc.   Under the five-year tender, Napesco will provide …