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Stock News: Saudi Down To 11-Month Low, Dubai Falls To Five-Month Low After Oil Price Plunge

Brent crude prices have fallen about 10 per cent since regional equity markets last traded on Thursday.

Kuwait Says Will Have To Live With Oil At $60, $80 Or $100

Kuwait’s stand comes as Gulf OPEC members reached a consensus to not cut output to stem oil price fall.

Kuwait’s Appeals Court Cuts Insider Trading Fine Against Al Ahli Bank Chairman

In March, the Court of First Instance fined Ahmed Yousef Behbehani after a complaint by the Capital Markets Authority.

Kuwait’s Mabanee Says To Spend $910m On Mall Extension

The total project cost, including the fourth phase, stands at KD610 million.

Kuwait’s KNPC To Invest $40bn To 2022

The company plans to invest in a new refinery and a clean fuels project, its chief executive said.

Dow Chemical CEO Says Not Quitting Kuwait, But Shifting Strategy

Dow Chemical announced recently that as part of a $7-$8.5 billion divestiture plan, it would reduce its equity positions in all of its Kuwaiti ventures.

Kuwait Airways Says Agrees To Buy 10 Boeing 777-ER Planes

The deal has a value of $3.3 billion at list price.

Kuwait’s Kufpec Signs $1bn Loan

Kufpec is responsible for exploration, development and production of crude oil and natural gas outside Kuwait.

Kuwait Central Bank: No Restrictions On Foreign Derivatives Trading

The central bank clamped down on derivatives trading in 2008 as Kuwaiti banks were hit hard by the debt problems of local investment firms.

Viva Kuwait Chairman Says Telco To List December 14

Adel Mohammad al-Roumi said that the company has fulfilled all the technical and legal requirements to list on the bourse.

Kuwait’s Investment Dar, CBK, Skirmish Over Boubyan Bank Stake

Investment Dar has been embroiled in litigation over a stake in Boubyan Bank, which it sold to Commercial Bank of Kuwait in 2008.

Gulf Cup: UAE Draw With Kuwait After First Half Thriller

Kuwait next play Oman while the UAE face Iraq in a repeat of last year’s final which they won 2-1 after extra time.

Kuwait To Let Banks Trade Derivatives, Forex Forwards Move

The central bank had sent a notice to all treasury managers informing them that it no longer objects to Kuwaiti banks dealing in derivatives with foreign banks if they are in line with the regulations.

Kuwait Cabinet Calls For Steps To Address Oil Price Slide

Benchmark brent crude dipped to a four-year low of under $80 per barrel last week, compared with a June high above $115.

Kuwait To Sell Dow Chemical’s Petchem Venture Shares To Public -Exec

Dow Chemical announced last week that as part of a $7-$8.5 billion divestiture plan, it would reduce its equity positions in all of its Kuwaiti ventures.

Kuwait To Spend $40bn To Boost Oil Output By 2020

Kuwait is planning to lift its capacity to four million barrels per day by 2020 and maintain that figure by 2030.

Kuwait Economy Grew Last Year, Stats Office Says, Contradicting IMF

The widely differing numbers underline the difficulty of finding reliable economic statistics in the Gulf, where many governments have not developed extensive systems for collecting data.

Kuwait’s Agility Q3 Net Profit Rises 8%

The firm made a profit of KD13.04 million ($44.8 million) in the third quarter of 2014.

Kuwait’s Americana Posts 33.6% Q3 Net Profit Jump

The firm made KD10.9 million ($37.45 million) in the third quarter of 2014.

Iran Oil Minister Meets Kuwait Emir On Weak Oil Prices

Iran’s oil minister Bijan Namdar Zangeneh discussed the developments in the oil market with Kuwait’s emir, the Iranian news agency reported.

Kuwait 6-Month Budget Surplus At $31bn, Spending Behind Plan

The major oil exporter’s public spending was 6.12 billion dinars in April-September, below 11.61 billion dinars originally planned for the period.

Kuwait Seals 2015 Gasoil Term At $1.30/bbl Premium, Down 42%

The middle distillates market was hit by high supplies this year compared to last, which may have affected the term premium.

U.S. Raises Level Of Concern On Kuwait Copyright Laws

The U.S. Trade Representative said Kuwait had failed to introduce a copyright law in line with international standards and to properly protect copyright and trademarks.

Kuwait Looking At Reforming Petrol Subsidies – Official

A petrol price hike would probably have a much bigger impact on consumers than the diesel and kerosene changes.

Kuwaiti Bank CBK Says Concerns Over Buyer Cash Behind Bond Cancellation

The bank said several of its customers who have ongoing credit facilities with the bank obtained external funding to subscribe to the bond.

Kuwait Oil Minister Says Doesn’t Think OPEC Will Cut Prices

Kuwait’s oil minister also said he believed surplus production in the oil market would be absorbed soon, but that the extent of the surplus was not clear.

Kuwait’s Burgan Bank To Start $353m Rights Issue On Nov 16

The lender, Kuwait’s third largest by assets, is issuing 216 million new shares.

Egypt Receives $1bn Grant From Kuwait

Gulf countries have stepped in to help Egypt since the ouster of Islamist President Mohamed Mursi last year.

Kuwait Budget Surplus At $21bn In April-June, Spending Lags

The country has undershot its budget plans repeatedly in recent years as political disputes have delayed budget approvals.

Kuwait’s Americana Says Shareholder In Talks On Stake Sale

The company did not identify the parties but stressed that no final agreement had been reached and no binding commitments had been made.