1. Art and Diseño

KFH names 80 winners of iPhone 6 Plus in 11 draws
Kuwait Finance House (KFH) has named 11 winners of iPhone 6 plus in the eleventh and last draw
of new promotional campaign themed “Win
iPhone 6 Plus daily for 80 days”. Thus, the total
number of winners in the 11 draws has reached 80
people.
The winners are: Diaa Albader, Yousef
Alshayea, Haya Alshumari, Munira ALkooh, Aisha
Alsaedi, Amthal Alsayer, Waleed Alyasin, Adel
Aljalibi, Abdullah Alajmi, Mohammad Aladwani and
Abdulrahman Alsaeed.
The campaign launched for banking cards
A flyer of KFH campaign.
Market Movements
AUSTRALIA
JAPAN
PHILIPPINES
-
All Ordinaries
Nikkei
All Shares
Change
+10.40
+68.17
+38.12
clients to encourage them use KFH credit and prepaid banking cards and ATM cards while making
purchases. It enhanced the added value of the
cards, serves the market movement where it facilitates purchases, and boosts sales. It also includes
daily prizes when using KFH credit and prepaid
banking cards in making purchases in Kuwait and
overseas.
Moreover, the campaign allowed KFH banking
cards holders one chance to enter a draw to win
daily prizes (iPhone 6 Plus) for every KD 10 purchase made in Kuwait and overseas using the
banking cards, while only purchases made by ATM
cards overseas can be valid for the draw. Chances
of winning increase when the value of purchases
increases.
It’s worth noting launching such campaigns is
part of KFH’s efforts to reward its clients and grant
them additional value; thus cementing the clients’
satisfaction through using the banking cards, in
addition to enhancing the bank’s presence and
market share in this pivotal banking sector. The
campaign also encourages the usage of banking
cards as a method of payment.
30-01-2015
Closing pts
5,551.60
17,674.30
4,465.28
INDIA
S. KOREA
HONG KONG
GERMANY
FRANCE
EUROPE
-
Sensex
KRX 100
Hang Seng
DAX
CAC 40
Euro Stoxx 50
Change
-498.82
-19.24
-88.80
-43.55
-27.18
-20.39
Business
Closing pts
29,182.95
4,022.31
24,507.05
10,694.32
4,604.25
3,351.44
KSE monthly report
Bayan Investment Co
Price index edges 0.56 pct higher in January
K
uwait Stock Exchange (KSE)
ended January in the green zone.
The Price Index closed at 6,572.26
points, up by 0.56% compared to the
closings of the month before, the
Weighted Index increased by 0.67%
after closing at 441.84 points, whereas the KSX-15 Index closed at
1,072.70 points increasing by 1.20%.
Furthermore, last month’s average
turnover decreased by 10.23%, compared to the preceding month, reaching K.D 26.40 million, whereas trading volume average was 286.85 million shares, recording increase of
14.58%.
The stock market indicators were
able to increase, supported by the
purchasing power that included many
stocks of large-cap and small-cap,
especially of declined prices during
the previous months, among traders’
optimism for the listed companies
annual results, after the positive data
disclosed by some companies and
banks during the current month. On
the contrary, the stock market was
affected by the profit collection operations, as such were able to lighten
the market gains and limit its increases in some sessions, however did not
succeed in pushing it to close in the
red zone on a monthly level.
Also, the stock market witnessed
during the first few sessions of the
month some random selling operations on many of the listed stocks, as
a result to the worry state of many
traders due to the oil prices drop crisis, which caused the three indices to
decline rapidly, before it were able to
compensate its losses thereafter,
affected by the relative stability of
the oil prices, in addition to the companies’ results which disclosed positive financial data for the year end
2014, to positively affect the traders’
morale, and caused a purchasing
trend to appear on many stocks, especially on stocks of previous declines,
First contraction since 2006
Gaza war pushes Palestinian
economy into recession: IMF
WASHINGTON, Jan 30, (AFP):
The war between Israel and Gaza
drove the Palestinian economy of
Gaza and the West Bank into its
first contraction since 2006, the
International Monetary Fund said
Thursday.
While the West Bank managed a
4.5 percent expansion last year,
Gaza’s economic activity declined
by about 15 percent, the IMF said,
linking it to Israel’s harsh bombing
and shelling of the Gaza enclave
and slow progress on rebuilding.
Overall, the contraction amounted to about one percent of gross
domestic product.
“Economic activity contracted
in 2014, following the war in Gaza
in the summer and mounting political tensions in the West Bank and
East Jerusalem,” the IMF said.
After a mission to assess the
state of the economy, IMF said a
strong recovery this year was also
in doubt due to Israel’s continued
refusal to hand over some $127
million worth of clearance revenues due to the Palestinian
Authority on goods imported into
the West Bank and Gaza.
“These represent about twothirds of net revenues and are
essential to the PA’s budget and to
the Palestinian economy,” it said.
“Reduced wage payments and
other public spending cuts necessitated by the suspension of clearance revenues in the presence of
financing constraints will likely
cause a sharp reduction in private
consumption and investment.”
Moreover, it added, reconstruc-
tion in Gaza is moving slowly,
partly due to a lack of real reconciliation among factions in
Palestinian politics, and partly due
to donors not following through
on their pledges to support
rebuilding.
“Real GDP in 2015 is therefore
set to rise only modestly, with a
pickup in Gaza from a low base
and a drop of nearly two percent in
the West Bank, although the sharp
fall in oil prices provides some
relief to energy consumers.”
The turmoil has left unemployment very high in both areas, 19
percent in the West Bank and 41
percent in Gaza.
Israel’s withholding the revenues will force the government
to cut back spending and investment, keeping the medium-term
growth picture only modest, the
IMF said.
The IMF praised the Palestinian
Authority for keeping its fiscal
deficit under control, but said that
even assuming that Israel releases
the funds, a large fiscal shortfall is
expected.
“In this volatile environment,
safeguarding financial stability
will remain a priority ..... Strong
efforts by the PA can only go so far
to contain the crisis for a few
months. The situation could
become untenable, with a growing
risk of social unrest and strikes that
could lead to political instability.”
“These serious risks could be
mitigated if Israel quickly resumed
transfers of clearance revenue and
donors front-loaded their aid.”
headed by the large-cap and bluechip stocks, which received a large
portion of the traded cash liquidity in
the market.
On the other hand, the stock mar-
ket is witnessing a general state of
watch and cautious in trading, due
to the investors’ wait for the listed
companies’ disclosure of its 2014
financial results, which is expected
to be announced during the coming
weeks.
Sectors’ Indices
Six of KSE’s sectors ended last
month in the green zone, while the
other six recorded declines. Last
month’s highest gainer was the
Industrial sector, achieving 3.58%
growth rate as its index closed at
1,108.71 points. Whereas, in the second place, the Telecommunications
sector’s index closed at 583.80 points
recording 2.34% increase. The Banks
sector came in third as its index
achieved 1.50% growth, ending the
month at 1,020.20 points.
On the other hand, the Basic
Materials sector headed the losers list
as its index declined by 4.03% to end
the month’s activity at 1,085.76
points. The Health Care sector was
second on the losers’ list, which
index declined by 1.92%, closing at
922.22 points, followed by the
Iraq adopts revised 2015 budget
constrained by falling oil prices
Crude price assumed at $56 pb
BAGHDAD, Jan 30, (RTRS): Iraq’s parliament approved a
budget on Thursday worth 119 trillion Iraqi dinars (US$105
billion), made possible by improved ties between Baghdad
and the autonomous Kurdish region but constrained by
plunging global oil prices.
Islamic State, which swept across northern Iraq last summer, prompting
US-led air strikes.
The budget, revised to trim the expected price of oil to $56 a barrel, down
from the $70 originally assumed, foresees a 25 trillion dinar deficit.
The adjusted oil forecast may have satisfied some MPs who saw previous
estimates as unrealistic, but others remain critical.
Passage represents a victory for Prime Minister Haider al-Abadi, who
“I don’t know if they are deceiving themselves or the Iraqi people by saying
fears lower oil revenues could hurt Iraq’s military campaign against the price of oil is $56,” MP Kadhim al-Saidi told reporters before voting began.
Brent crude has been trading just
below $50 this week, down from
$115 in June.
The budget seals a financial
arrangement between Baghdad and
the Kurdish region that will see the
Kurds export 300,000 barrels per day
of oil from Kirkuk and 250,000 bpd
from their own fields in return for a
17 percent share of the budget.
Opponents decried the size of
Kurdistan’s share as unfair.
“There is no legal formulation or
constitutional cover for this agreement. It appears the political blocs ...
robbed the Iraqi people,” said Saidi.
For Abadi, the budget is a sign of
growing goodwill between Baghdad
and the Kurdish region as they both
fight Islamic State.
Surged
Kurdish peshmerga forces rolled
back the radical jihdaists after they
surged across the Syrian border last
summer, threatening the regional
capital Arbil.
But Islamic State, holding large
swaths of Iraq’s north and west,
remains a threat to the country’s
A file photo shows Qatar Airways taking delivery of its first Airbus A380 at Hamad International Airport in Doha. Qatar Airways
security and unity. Defence alone is
said on Jan 30, 2015 that it had purchased almost 10 percent of IAG, parent of British Airways and Spanish carrier Iberia,
expected to take up 20 percent of
the second European entry by a Gulf carrier. (AFP)
2015 budget expenditure.
In addition, the state must ensure
the payment of its civil servants, with
more than 5 million state employees.
It is withholding 15 percent of highShares in IAG, which have risen by France and Lufthansa,” he said.
LONDON, Jan 30, (RTRS): Qatar
Airways has bought a 9.99 percent 44 percent in the last three months,
IAG Chief Executive Willie Walsh level government salaries, which are
stake in International Consolidated were trading up 0.3 percent at 565.5 said in a statement: “We will talk to meant to be paid back when the
Airlines Group (IAG) worth around pence. They earlier reached 590 pence, them about what opportunities exist to country is more financially stable.
Nechirvan Barzani, prime minister
1.15 billion pounds ($1.7 billion), the highest level since the group was work more closely together and further
building closer ties with the owner of formed four years ago.
IAG’s ambitions”.
of the Kurdish region, praised the
its partners British Airways and Iberia
IAG, a leading transatlantic carrier, 2015 budget but pointed out the counAnalyst Mark Irvine-Fortescue at
in the oneworld alliance.
brokerage Jefferies said Qatar’s invest- is trying to buy Irish airline Aer Lingus try remains in dire financial straits.
Qatar’s national airline said it would ment was a strong endorsement of IAG for $1.5 billion, a deal that will increase
“It is very good, but unfortunately
look to strengthen commercial ties with and the tie-up would create opportuni- its take-off and landing slots at its full- (Baghdad) doesn’t have money,” he
the European carrier and may consider ties in southeast Asia, India and the to-capacity London Heathrow hub.
told Reuters.
increasing its stake over time, although Middle East, where Qatar has an extenQatar Airways, owned by the counThe government is expected to
it was not currently intending to exceed sive network.
try’s sovereign wealth fund, has com- finance the deficit through Treasury
9.99 percent.
peted with regional rivals Emirates and bills, government bonds and borrowCapacity
“IAG represents an excellent opporEtihad Airways to become major globHe said huge capacity growth from al carriers. Its visibility in Europe has ing from local banks.
tunity to further develop our
In addition, Iraq plans on drawing
Westwards strategy,” Qatar Airways Middle East carriers such as Qatar, been strengthened by a sponsorship
Chief Executive Akbar Al Baker said Etihad Airways and Emirates was put- deal with Spanish soccer club funds from the International
Monetary Fund through its Special
on Friday, referring to its aim of ting pressure on the hubs of Europe’s Barcelona.
carriers.
expanding in western markets.
It joined oneworld in 2013, becom- Drawing Right, and will introduce a
“This strategy could be seen as a ing the first Gulf airline in enter into a tax on imported cars and cellular
Non-European shareholders of IAG
including Qatar Airways are subject to defensive ‘if you can’t beat them, join global alliance, which allows airlines to telephone SIM cards and the Internet.
Kuwait has agreed to defer for one
an overall cap on ownership as a result them’ move and should in time improve team up via code-sharing agreements
of the requirement for EU airlines to be IAG’s structural and competitive posi- to boost the number of flights they year Iraq’s reparations for its 1990
invasion of its neighbour.
majority owned by EU shareholders.
tioning, possibly at the expense of Air offer.
Turkish December trade deficit
in line with expectations: data Qatar Airways takes $1.7b stake in BA
ISTANBUL, Jan 30, (RTRS): Turkey’s
trade deficit, the chief contributor to a
large current account deficit seen as the
economy’s main weakness, shrank 14.6
percent to $8.51 billion in December,
in line with expectations.
In 2014 as a whole, the deficit narrowed 15.4 percent to $84.51 billion,
data from the Turkish Statistics
Institute showed on Friday.
Turkish markets largely shrugged off
the data but the lira hovered close to a
record low hit on Thursday on expectations the central bank will cut interest
rates at an extraordinary policy meeting next week.
The central bank cut interest rates
earlier this month by 50 basis points,
facing renewed criticism from key government figures for not cutting it more
sharply ahead of a general election in
June.
On Tuesday, Governor Erdem Basci
said that if the January inflation figures
due to be released on Feb. 3 showed a
sharp fall, then the bank could convene
a monetary policy meeting (MPC) as
early as the following day.
Analysts say the lira was also under
pressure from the U.S. Federal
Reserve’s potential rate hikes for later
this year and a politicisation of monetary policy could further add downward pressure on the Turkish currency.
“The central bank governor’s warnings that they may cut interest rates in
an unscheduled meeting within next
week hit the Turkish Lira to a record
low against USD,” Oyak Securities
said in a research note.
The lira traded at 2.4150 against the
dollar at 0927 GMT, versus 2.4036 late
on Thursday and a record low of 2.4240.
The main equities index gained 0.28
percent to trade at 88,808.17 points by
0921 GMT, while the emerging markets index was down by 0.62 percent.
The benchmark 10-year government
bond yield was at 7.09 percent versus
7.06 percent on Thursday.
Consumer Services sector, as its
index closed at 1,069.65 points at a
loss of 1.10%.
Sectors’ Activity
The Financial Services sector dominated total trade volume during last
month with 2.36 billion shares
changing hands, representing 43.28%
of the total market trading volume.
The Real Estate sector was second in
terms of trading volume as the sector’s traded shares were 24.19% of
last month’s total trading volume,
with a total of 1.32 billion shares.
On the other hand, the Financial
Services sector’s stocks where the
highest traded in terms of value; with
a turnover of K.D. 112.94 million or
22.52% of last month’s total market
trading value. The Banking sector
took the second place as the sectors
last month turnover of K.D. 110.62
million represented 22.06% of the
total market trading value.