Sunday 31 August 2014
 
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Kuwait

Burgan Bank to meet investors ahead of Tier 1 bond

Kuwait's Burgan Bank has chosen banks to arrange meetings with investors ahead of a potential issue of a capital-boosting bond, a document from lead managers said on Thursday, in what would be the first such debt sale from a Kuwaiti entity.

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Earnings in Kuwait flat despite strong bank results

The earnings of Kuwaiti companies were flat, despite a solid performance by banks during the first half of the year, on the back of an improving operational environment and reduced provisioning, boosted overall earnings an offset weakness in oth

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Kuwait export crude falls to $103.4 in July

The price of Kuwait Export Crude (KEC) fell about $5, from $108.2 per barrel (bbl) at the start of July to $103.4 per bbl at the end of the month, said a report. The National Bank of Kuwait report noted that the oil prices retreat

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Nayef Al-Hajraf new Kuwait CMA chief

Kuwait's cabinet appointed former finance minister Nayef Al-Hajraf as chairman of its Capital Markets Authority, which regulates the stock market, state news agency Kuna said. He replaces Saleh Al-Falah, who had held the post

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Iran delays London oil conference

Iran has postponed by three months a conference to offer multinationals the rights to develop oil deposits, giving time for sanctions on the country's oil sector to be lifted, a senior official said. "We want to provide for all

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Sinopec shortlists bidders for $20bn retail stake

State-run Chinese oil giant Sinopec Corp has shortlisted 37 bidding consortia for an up to 30 per cent stake in its massive fuel retail unit and plans to choose a winning bidder by end-September, its chairman said. "The reaction fr

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Kuwait real estate sales down 37pc

The real estate sales in Kuwait fell 37 per cent year-on-year (y/y) in July  to KD268 million ($941 million) compared to last year, according to a report. The sales plunged by 49 per cent compared to June, which was a record

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Saudis spent $17bn on family tourism in 2013

Saudi Arabians spent a record SR64 billion ($17.1 billion) on family tourism last year thus topping the list of GCC countries, which contribute about 31 per cent of the total expenditures on tourism activities, said a report. Seco

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Kuwait to boost China oil exports to 500,000 bpd

Kuwait plans to increase the volume of crude oil exports to China to 500,000 barrels a day (bpd) in three years, an executive at the state-run Kuwait Petroleum Corporation (KPC) said Saturday. On Monday, Kuwait concluded a new 10-

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Swiss bank mis-sold $200m investments to Kuwaitis

Switzerland's Bank Sarasin mis-sold $200 million of investment products to Kuwait's prominent Khorafi family, a court at Dubai's financial centre found on Thursday in a ruling that could set a precedent for similar disputes in the re

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