June 20th, 2018 | 0 commentsThe board members of Danah Al Safat Foodstuff have passed their recommendation of reducing the capital to offset the accumulated losses to the Capital Markets Authority (CMA). Danah Al Safat’s board proposed shrinking the capital to trim its KWD 4.69 million accumulated losses, according to a bourse statement on Tuesday. Offsetting the lo...
June 20th, 2018 | 0 commentsArzan Capital Holding Limited, a 100%-owned subsidiary of Arzan Financial Group for Financing and Investment, plans to increase its capital by $6.8 million (KWD 2.07 million). This capital hike will result in shrinking Arzan Capital’s ownership in Arzan Group to become 87.8% instead of 100%, according to a bourse statement on Tuesday. It...
June 20th, 2018 | 0 commentsThe Central Bank of Kuwait (CBK) has issued bonds and securities valued at KWD 160 million ($528.9 million) on Tuesday, according to a recent official statement. Kuwait’s central bank has raised the interest to 2.50%, the highest level in ten years since June 2008. This bond issue will mature in three months on 18 September, being covered...
June 20th, 2018 | 0 commentsThe price of Kuwait’s crude oil declined by 4.23% or $3.09 to settle at $69.95 per barrel (pb) on Monday compared to $73.04 pb on Thursday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, the price of Nymex crude oil, July futures, increased by 1.2% to $65.85 pb. Brent crude oil added 2.4% to $...
June 20th, 2018 | 0 commentsThe indices of Boursa Kuwait closed Tuesday’s session with a massive decrease, as the Premier, All-Share and Main markets retreated 0.36%, 0.33%, and 0.28%, respectively. Al Massaleh Real Estate was the top loser with 13.52%, while National Industries topped the winners with 5.17%. Boursa Kuwait’s turnover shrank to KWD 10.25 million on T...
June 20th, 2018 | 0 comments The indices of Boursa Kuwait started Tuesday’s trading session with a massive incline in the first session after Eid Al Fitr holiday. By 9:50 am Kuwait time, the Premier, All-Share, and Main markets added 0.20%, 0.15%, and 0.06%, respectively. Senergy was the top winner with 20.52%, while Privatization Holding led the losers with 9.25%....
June 19th, 2018 | 0 commentsuwait’s balance of trade with Japan in May 2018 registered a surplus that is 12.2% lower than the same month a year ago, according to recent official statements. The trade balance surplus stood at 42.3 billion Japanese Yen ($380.7 million) in May 2018 compared to 48.19 billion Japanese Yen ($433 million) in May 2017. The decrease in trade...
June 14th, 2018 | 0 commentsThe indices of Boursa Kuwait closed Wednesday’s trading session with a grouped incline, as the Premier, Main, and All-Share markets added 0.61%, 0.31%, and 0.5%, respectively. Warba Insurance led the winners with 9.57%, while Tahssilat led the losers with 9.78%. Boursa Kuwait’s turnover increased to KWD 15.9 million on Wednesday compared...
June 14th, 2018 | 0 commentsKuwait International Bank (KIB) has signed a joint murabaha agreement with international and local banks for a total value of $250 million. This finance will last for three years and will endorse KIB’s liquidity in the long and medium term and improve the financial position of the deposits. The payment will be in one installment by the en...
June 13th, 2018 | 0 commentsKuwait has clear plans regarding its capital investments in the oil and gas sector, the chairman of Integrated Holding Co, chairman Jassim Mustafa Boodai, said in an interview with CNBC Arabia. Boodai told CNBC Arabia that Integrated Holding will be taking part in Duqm Refinery project in Oman from the beginning. It is noteworthy that the...
