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Kuwait News
Dubai Shares Snap Two-Day Drop as Oil Rises; China Growth
Dubai’s stocks snapped a two-day decline as oil advanced and China’s economic growth beat estimates, buoying demand for riskier assets amid Europe’s efforts to contain a debt crisis.
OPEC Oil Production Rose in June as Saudi Output Climbs 5.1%
OPEC crude oil production jumped last month as Saudi Arabia, the group’s biggest exporter, pumped the most since 2008.
World Oil Demand Will Increase at Slower Pace in 2012, OPEC Says
The Organization of Petroleum Exporting Countries forecast world oil demand will grow at a slower pace for a second year in 2012 as consumption declines in Europe and slows in other industrialized nations.
Where Have All the Envoys Gone? Obama Could Use Their Help: View
In his first week in office, President Barack Obama made a consequential choice. By appointing three special envoys to tackle three important problems, he established his foreign-policy priorities.
Kuwait’s Alafco Nine-Month Net Jumps Fourfold to $105 Million
Aviation Lease & Finance Co. said profit in the first nine months of its fiscal year rose fourfold because of a one-time gain of 20 million dinars ($72.8 million).
Kuwait Trims Discount for August Crude Sales to Asia to 60 Cents a Barrel
Kuwait narrowed the discount for August oil shipments to Asia to the slimmest margin in almost two years after Saudi Arabia last week raised the price for its comparable Arab Medium crude to refiners in the Far East.
Saudi Shares Retreat as Safco Quarter Profit Misses Estimates; Sabic Falls
Saudi Arabia’s stocks fell the most in almost three weeks after second-quarter earnings at Saudi Arabian Fertilizer Co. missed analysts’ estimates.
Kuwait’s PIC First-Quarter Profit Exceeds $364 Million, Rai Says
Petrochemical Industries Co., a unit of state-run Kuwait Petroleum Corp., posted first-quarter profit of more than 100 million dinars ($363.8 million), Al-Rai reported, citing the company’s Chairman and Managing Director Maha Mulla Hussain.
Kuwait National Air Faces Lawsuits From Banks, Chairman Says
Kuwait National Airlines Co. K.S.C. faces lawsuits from banks and owes Burgan Bank about 16 million dinars ($58 million), Kuwait National’s Chairman Abdul Salam al- Bahar said.
Kuwait Must Form Company to Build New Refinery, Lawmaker Says
A Kuwaiti opposition lawmaker said he may seek to question the government if it fails to create a public shareholding company to build the new Al-Zour refinery.
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