News

US dollar stable against KD at 0.303

The exchange rate of the US dollar was stable against the Kuwaiti dinar at 0.303, while the euro went up to reach KD 0.332 compared to Thursday’s rates, said the Central Bank of Kuwait (CBK) yesterday. The CBK said that the rate of the Sterling Pound went down at KD 0.396, while the Swiss Franc rose to KD 0.306. The rate of the Japanese Yen was unchanged at KD 0.002.

Dubai Financial Market Q3 net profit drops 22%

Dubai Financial Market (DFM), the Gulf ’s only listed stock exchange, reported a 22 percent fall in third-quarter net profit yesterday. Net profit of 35.4 million dirhams ($9.6 million) in the three months to Sept. 30, down from 45.4 million dirhams a year earlier, it said in a statement. During the first nine months of the year, value of trades on DFM was 91.2 billion dirhams, down 31 percent from the same period of last year. Trading commissions are the main source of income for DFM.

Qatar’s Ezdan Holding Q3 net profit flat

Qatar’s Ezdan Holding reported flat third-quarter net profit on Sunday, according to Reuters calculations. Net profit of 363 million riyals ($99.7 million) in the three months to Sept. 30, versus 364 million riyals a year earlier. Reuters calculated based on financial statements in lieu of a quarterly breakdown. Ezdan’s nine-month net profit 1.29 billion riyals, up from 1.22 billion riyals a year ago, a bourse statement said.