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Kuwait news

Warba Insurance’s competitive position has been undergoing a pressure
58 minutes ago S&P affirms Warba Insurance’s rating at BBB
Mubasher: Warba Insurance announced that Standard & Poor's Financial Services (S&P) has affirmed the company’s rating at ‘BBB’, with a ‘Negative’ outlook. S&P kept the company’s rating unchanged due to a decline in revenues, in addition to a …
Hilal Cement led the losers with 22.8%
1 hour ago Boursa Kuwait closes Sunday lower amid higher liquidity
By: Mohamed Farouk Mubasher: The indices of Boursa Kuwait closed Sunday’s trading session in decline, as the All-Share, Main, and Premier markets retreated by 1.01%, 0.42%, and 1.22%, respectively. The turnover reached KWD 30.05 million on Sunday, …
National Shooting registered an increase of 41% in H1 operating profit
2 hours ago National Shooting Q2 financials turn to losses
Mubasher: National Shooting Co incurred a loss of nearly KWD 22,430 ($73,900) during the second quarter of 2019, versus a profit of nearly KWD 99,150 ($326,800) in the corresponding three months last year. During the first half ended 30 June 2019, …
Selling orders reached a volume of 2.17 million shares
4 hours ago IFA’s stock up 8% after resuming trading on Sunday, OGM’s decisions
By: Mohamed Farouk Mubasher: The stock of the International Financial Advisors (IFA) advanced 8.3% or 2 fils to reach 24.9 fils, after trading on its shares has resumed early Sunday. By 10:40 am Kuwait local time, IFA’s stock registered a trading …
Trading on IFA’s stock has resumed on Sunday
5 hours ago IFA to offset KWD 57m accumulated losses; trading resumes
Mubasher: The shareholders of the International Financial Advisors (IFA) approved to offset the company’s accumulated losses of KWD 57.3 million as registered on 31 March 2019. During the ordinary general meeting (OGM) on Thursday, the …
Boursa Kuwait’s turnover amounted to KWD 13 million
10:28 AM Boursa Kuwait opens Sunday in red
Mubasher: The All-Share Market index of Boursa Kuwait started Sunday’s trading session 0.54% lower. By 10:03 am Kuwait local time, the indices of both the Main and Premier markets retreated by 0.19% and 0.65%, respectively. The telecom segment led …
All-Share Market index rose by 1.9% MoM in June
20 July 07:29 PM Boursa Kuwait outperforms GCC markets in Q2 – NBK
Mubasher: Boursa Kuwait outperformed GCC markets during the second quarter of 2019, surging 3.8% versus 0.5% for the regional markets, according to a report released on Saturday by the National Bank of Kuwait (NBK). For the second quarter as a …
The Kuwaiti economy is still dependent on oil
20 July 06:21 PM S&P affirms Kuwait’s credit rating at ‘AA’; outlook stable
Mubasher: Standard and Poor's (S&P) has kept Kuwait’s credit rating at ‘AA’ with a stable outlook, the Kuwait News Agency (KUNA) reported on Saturday. The global rating agency stated that it could raise that rating if Kuwait conducted a broad …
Residential transactions rose by 21% YoY in 6M
20 July 05:25 PM Kuwaiti real estate sales register $5.9bn in 6M
Mubasher: The total value of real estate sales in Kuwait reached KWD 1.88 billion ($5.9 billion) during the first six months of 2019, a report by Kuwait International Bank (KIB) showed on Saturday, according to the Kuwait News Agency (KUNA). The …
Oil prices rose in the second quarter of 2019
20 July 04:43 PM Kuwait’s non-oil economy to grow by 2.5% in 2019
Mubasher: While the growth of the global economy became more and more subject to many questions and doubts, the Kuwaiti economy maintained its stability, achieving a slight margin of improvement. Kuwait’s GDP grew by 2.6% year-on-year in the first …
19 July 11:45 PM Oil increases at Friday’s settlement   
Mubasher: Oil futures ended higher on Friday, falling 7.6% for the week.  
Profit is expected to record KWD 67 million by 2020
19 July 11:32 PM Boubyan Bank’s revenue may grow 20% by 2020
Mubasher: Boubyan Bank’s revenue is expected to grow 20% by 2020, a report by Arqaam Capital showed, according to Al-Anba newspaper. Arqaam Capital expected that the Kuwait-listed company’s revenue will reach KWD 183 million by 2020. Profit is …
19 July 10:21 PM Gold finishes down on Friday
Mubasher: Gold fell at Friday’s settlement, gaining 1% for the week.
Saudi oil output fell by 137,000 bpd in May
19 July 09:00 PM Saudi Arabia’s crude oil exports marks 13M-low in May
Riyadh – Mubasher: Saudi Arabia’s crude oil exports declined to 6.94 million barrels per day (bpd) in May 2019, recorded the lowest level since October 2017. The kingdom’s exports dropped by about 240,000 barrels per day (bpd) in May 2019, from …
19 July 07:02 PM India gov’t mulls loans from foreign banks for small firms
Mubasher: The Indian government was in talks with foreign lenders to extend up to $14.5 billion lines of credit to millions of its small firms.
19 July 05:10 PM US consumer confidence stands firm in early July
Mubasher: Initial estimates by the University of Michigan indicated that the US consumer sentiment slightly grew virtual change during the first half of July.
Market cap inched down KWD 20m
19 July 05:05 PM Boursa Kuwait’s indices see mixed performance in week
Mubasher: Boursa Kuwait’s indices ended the week in a mixed note, with market capitalisation lost KWD 20 million. Over the week, the All-Share Market and Premier Market indices declined by 0.04% and 0.44%, respectively, while the Main Market index …
19 July 04:39 PM UK lawmakers see indecision on Huawei hurting international relations
Mubasher: The next UK prime minister should urgently decide on the part which Huawei would take in the fifth-generation networks.
19 July 03:26 PM Microsoft’s quarterly profit climbs 49%
Mubasher: Microsoft said that its net income climbed by 49% year-on-year in the fourth quarter of its 2019 fiscal year, while revenue rose by 12%.
19 July 02:49 PM Boeing to take $5bn charge over 737 Max crisis
Mubasher: Boeing would deal an around $5 billion blow in the second quarter due to the worldwide grounding of its 737 Max jets.
19 July 02:20 PM US, China hold phone talk second time since Trump-Xi meeting
Mubasher: US and Chinese top officials held phone talks this week, the second call since a late June meeting.
19 July 01:05 PM Iran captures crude carrier near Hormuz Strait–state media
Mubasher: Iran captured a foreign-flagged oil carrier near the strategic Strait of Hormuz, the state-owned media outlets announced.
19 July 12:44 PM IEA rules out ‘huge increase’ in oil prices
Mubasher: The International Energy Agency dismissed the possibility of a significant rally in oil prices, citing a slowing demand growth and global market oversupply.
19 July 12:25 PM Gold retreats from 6-yr peak amid dovish Fed, ME tensions
Mubasher: Gold prices declined on Friday as investors took advantage of the bullion’s nearly six-year peak to book profits.
19 July 11:41 AM UK public borrowing rises in June
Mubasher: The UK’s public sector net borrowing, excluding public banks, rose by GBP 3.8 billion to GBP 7.2 billion ($8.98 billion) in June.