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69.340 CURRENCY BUY SELL Europe British Pound 0.371545 0.381545 Czech Korune 0.003871 0.015871 Danish Krone 0.039121 0.044121 Euro 0. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
316357 0.325357 Norwegian Krone 0.031270 0.036470 Romanian Leu 0.085056 0.085056 Slovakia 0.009215 0.019215 Swedish Krona 0.029340 0.034340 Swiss Franc 0.292878 0.303878 Turkish Lira 0.083732 0.094032 Australasia Australian Dollar 0.212617 0.224617 New Zealand Dollar 0.205431 0.214931 America Canadian Dollar 0.221563 0.230563 Georgina Lari 0.138615 0.138615 US Dollars 0.302800 0.307200 US Dollars Mint 0.303300 0.307200 Asia Bangladesh Taka 0.003527 0.004111 Chinese Yuan 0.042685 0.046185 Hong Kong Dollar 0.037484 0.040234 Indian Rupee 0.002785 0.005519 Indonesian Rupiah 0.000018 0.000024 Japanese Yen 0.002534 0.002714 Kenyan Shilling 0.003157 0.003157 Korean Won 0.000245 0.000260 Malaysian Ringgit 0.064809 0.070809 Nepalese Rupee 0.002941 0.003111 Pakistan Rupee 0.002618 0.002908 Philippine Peso 0.006077 0.006377 Sierra Leone 0.000068 0.000074 Singapore Dollar 0.207315 0.217315 South African Rand 0.016364 0.024854 Sri Lankan Rupee 0.001649 0.002229 Taiwan 0.009514 0.009694 Thai Baht 0.008222 0.008770 Arab Bahraini Dinar 0.807486 0.815986 Egyptian Pound 0.013671 0.023124 Iranian Riyal 0.000085 0.000086 Iraqi Dinar 0.000181 0.000241 Jordanian Dinar 0.427814 0.436814 Kuwaiti Dinar 1.000000 1.000000 Lebanese Pound 0.000149 0.000249 Moroccan Dirhams 0.020232 0.044232 Nigerian Naira 0.001274 0.001909 Omani Riyal 0.790721 0.796401 Qatar Riyal 0.083486 0.084936 Saudi Riyal 0.080753 0.082053 Syrian Pound 0.001302 0.001522 Tunisian Dinar 0.129004 0.137004 Turkish Lira 0.083732 0.094032 UAE Dirhams 0.082133 0.083833 | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
0.083732 0.094032 UAE Dirhams 0.082133 0.083833 Yemeni Riyal 0.001016 0.001096 Chinese Yuan Renminbi 31.240 Thai Bhat 9.535 Turkish Lira 87.725 NEW YORK: Investors capped a year of solid gains on Wall Street Friday in a selling mood, sending the major US stock indexes modestly lower on the final trading day of 2016. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Technology and consumer-focused stocks led the broad slide, while real estate companies and banks eked out small gains.
As it had been for much of the week, trading was subdued ahead of the New Year’s Day holiday.
Despite riding out the last week of the year with losses, halting the Dow Jones industrial average’s momentum as it neared the 20,000 mark, 2016 delivered a much better finish for stock investors than most would have anticipat- ed. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
All told, the Dow ended the year with a 13.4 percent gain, while the Nasdaq composite gained 7.5 percent.
The Standard & Poor’s 500 index, the broad- est measure of the stock market, gained 9.5 per- cent after an essentially flat finish in 2015.
Including dividends, the total return was 11.96 percent.
Small-company stocks fared the best, especially since the election.
The Russell 2000 index closed out 2016 with a gain of 19.5 per- cent. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
“This was not just a market that did well, it did extremely well,” said Quincy Krosby, market strategist at Prudential Financial.
The stock market weathered repeated slumps in 2016, including the worst start to any year for stocks, the second correction for the market in five months and plummeting oil prices.
A steadily improving US economy and job market, as well as more stable oil prices and better com- pany earnings growth helped turn the market around. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
More recently, investor optimism fol- lowing the Republican election sweep in November kicked off a rally that sent the market to new heights.
End of year rally Some of that enthusiasm evaporated in the final week of the year, as traders seized on the quiet period between the Christmas and New Year’s holidays to do some selling to lock in prof- its.
“So many times we look for a rally at the end of the year, particularly between Christmas and New Year’s,” said JJ Kinahan, TD Ameritrade’s chief strategist. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
“But with the incredible up move we’ve had since the election, people are either hesitant to buy things heading into the new year or are taking a little bit of profit.” On Friday, the Dow slid 57.18 points, or 0.3 percent, to 19,762.60.
The S&P 500 index fell 10.43 points, or 0.5 percent, to 2,238.83.
The Nasdaq composite gave up 48.97 points, or 0.9 percent, to 5,383.12.
The Russell 2000 lost 6.05 points, or 0.4 percent, to 1,357.13.
Bond prices rose. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Bond prices rose.
The yield on the 10-year Treasury note fell to 2.44 percent from 2.48 percent late Thursday.
Global stocks mostly rose on the year’s last day of trading.
Britain’s index rallied to hit anoth- er all-time high.
The FTSE 100, which was trading for only a half day, rose 0.3 percent.
That left the index 14.4 percent higher over 2016.
Elsewhere in Europe, Germany’s DAX rose 0.3 percent, while France’s CAC 40 gained 0.5 percent. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Earlier in Asia, Japan’s Nikkei 225 fell 0.2 percent, while Hong Kong’s Hang Seng index rose 1 percent.
Benchmark US crude fell 5 cents to close at $53.72 a barrel in New York.
That translates into a 45 percent gain for the year.
Brent crude, used to price international oils, slipped 3 cents to close at $56.82 a barrel in London.
In other energy trading, wholesale gasoline dropped 2 cents to $1.67 a gallon and heating oil held steady at $1.70 a gallon. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Natural gas futures fell 7.8 cents, or 2.1 per- cent, to $3.72 per 1,000 cubic feet.
The price of gold fell $6.40 to $1,151.70 an ounce.
Silver slid 23 cents to $15.99 an ounce.
Copper rose 2 cents to $2.51 a pound.
In currency trading, the dollar strengthened to 116.78 yen from 116.65 yen late Thursday.
The euro rose to $1.0531 from $1.0485.
— AP E mployee satisfaction plays a vital role in the success of the company.
Job satis- faction is often correlated with loyalty and subsequently productivity. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Therefore, making employees feel well-rewarded and appreciated for their contributions is an essential managerial practice.
There are many ways an employer can obtain employee feedback and satisfaction levels.
Employee surveys are highly effective for measuring this type of data.
Using such tools helps improve relations with employ- ees, maintains employee loyalty, and pushes towards collaborative achievement of busi- ness objectives. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Internet-based surveys have proved to be the most effective, due to their high level of confidentiality and, as a result, honest feed- back.
This survey method also allows the employer to instantly gather information and assess and compare satisfaction levels over a certain period of time.
The Career experts at Bayt.com, the #1 Job Site in the Middle East, share below the best types of surveys that lead to higher employee satis- faction.
1. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
1.
Engagement Surveys Anonymously, employees are more com- fortable sharing their honest feedback.
Engagement surveys encourage that, result- ing in the improvement of morale within an organization.
Its simplicity makes it the most common type of survey.
Companies that offer their employees the opportunities to share their feedback and provide improve- ment suggestions and ideas have higher employer retention and job satisfaction rates.
2. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
2.
360 Degree Feedback Survey This survey is divided into two parts.
The first part requests feedback on the employ- ee’s performance and behavior.
This partis filled out by coworkers, supervisors and cus- tomers when applicable.
The second part asks the employee to assess their own per- formance and behavior as well as respond to the feedback received from others.
What distinguishes this type of surveys is that it takes into consideration how others view the employee. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The feedback usually includes suggestions for improvement, which are vital for those seeking growth.
Employers find this survey equally important, as it allows them to recognize the weaknesses and strengths of their staff.
The employers can then, more accurately, reward successes and propose improvement strategies.
3.
Employer Improvement Surveys This survey allows employees to provide constructive criticism for their managers. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Based on that, employers can plan to improve the organizational processes and identify weaknesses.
The importance of such survey is that it signals to the employees that their company is constantly looking to improve.
Feedback does not only target employees, but in fact is useful to everyone regardless of their position and role.
4.
Compensation and Benefits Surveys Among the biggest drivers for employee retention and loyalty are compensations and benefits. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
According to the Bayt.com ‘Salaries in the Middle East and North Africa’ survey, nearly two thirds (63%) of respondents believe their salaries are lower than what other companies offer in the same industry.
This is why understanding how your employ- ees feel about these elements is important.
This type of surveys will provide a clear pic- ture of your employees’ needs and wants, which subsequently helps the employer tweak salaries and benefits accordingly.
5. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
5.
Exit Interview Survey It’s beneficial to understand why your employees are leaving.
Uncovering reasons of resignation helps you prevent future attri- tion through operational improvements.
It might also help in reversing a valued employ- eeís resignation.
It’s possible to discover that the employee is willing to stay with certain adjustments such as training, compensation or advancement opportunities. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
For example, according to the Bayt.com ‘Employee Loyalty in the Middle East and North Africa’ poll, 38.2% of respondents disclosed that the lack of growth and career advancement is the biggest reason for their resignation.
Whether the reversal is successful or not, the survey collects useful information on work experi- ence and desirable conditions that can be implemented in the company. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Top Employee surveys to ensure job satisfaction LAS VEGAS: The busy New Year’s holiday weekend is likely to come and go before a Rio casino hotel tower in Las Vegas fully recovers from a power outage that prompt- ed a 900-room evacuation, officials said Friday.
Spokesman Richard Broome of the Rio’s parent company, Caesars Entertainment, said the company is testing to see whether rooms on the lowest 20 floors can be occupied Friday. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
That could mean about 500 rooms would reopen in time for the holiday, when hotel rooms are scarce.
Broome said about 400 rooms on the upper floors of the Masquerade Tower will likely be unoccupied for several more days.
The chain of events that triggered the out- age and evacuation started Wednesday, when a sink in a service area overflowed and shorted a fuse in the tower’s power system. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The hotel moved to a backup gen- erator, but that had been compromised by water from a fire sprinkler and it gave out on Thursday morning.
Guests in the near-capacity tower were transferred to other rooms in casinos owned by Caesars, but also to competitors’ rooms.
“Naturally, they’re frustrated,” Broome said at a news conference on Friday. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
“We’re trying to bend over backward to try to make that frustration as small as possible by giving them free food, by giv- ing them as much information as we can, making sure we transport them over to the other property they’ll be staying at.” The 2,500-room Rio, which was built in 1990 and is a short drive from the Las Vegas Strip, is one of the more affordable resorts in Las Vegas, with rooms that run less than $100 on an off-peak night. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
It’s home to magicians Penn and Teller, the Chippendales male revue and Food Network personality Guy Fieri’s restaurant El Burro Borracho.
The timing of the outage is particular- ly problematic because it comes at one of the busiest and most lucrative weekends of the year for Las Vegas.
More than 300,000 visitors are expected to ring in the new year in Sin City, which is welcom- ing big-name musical acts and putting on an eight-minute pyrotechnic show that features fireworks launched from casino rooftops. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Broome said Caesars hasn’t estimated how much the outage is costing them.
— AP CARACASP: Venezuela on Friday said it was formally ceding the rotating presiden- cy of Mercosur to Argentina, citing the end of its term as the head of the trade bloc, a move that follows acrimonious dispute over its suspension from the group. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Mercosur suspended Venezuela this month after years of complaints that the socialist- run nation, whose state-led economy is increasingly out of step with the rest of the region, had failed to meet economic condi- tions meant to stimulate trade.
President Nicolas Maduro called the sus- pension a “coup” against Venezuela while Foreign Minister Delcy Rodriguez this month jostled with security guards in Argentina in a failed attempt to crash a meeting of the trade bloc. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
“Venezuela for- mally hands the presidency of Mercosur over to the Republic of Argentina,” wrote Rodriguez in a letter posted on her Twitter account that was addressed to the foreign ministers of Mercosur nations.
Argentina has said that Venezuela will have no representation in Mercosur until it meets the group’s requirements.
Venezuela was initially admitted to the bloc in 2012 and given four years to meet all the requirements. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Mercosur includes Brazil, Paraguay and Uruguay, with Bolivia in the process of joining.
Under the bloc’s rules, Venezuela would need to renegotiate the terms of its membership in order to return to the group.
— Reuters US stocks end modestly lower on final trading day of 2016 Technology, consumer-focused stocks led broad slide NEW YORK: In this Friday, Nov 13, 2015, file photo, the American flag flies above the Wall Street entrance to the New York Stock Exchange. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
— AP Venezuela cedes presidency trade block after dispute Official: Power won’t be fully back at Vegas casino for days LAS VEGAS: NHP and Metro Police officers block off the entrance off Flamingo Road to the Rio Hotel & Casino after reports of smoke coming from the 21st floor of the Masquerade Tower led to guests being evacuated. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
— AP B U S I N E S S SUNDAY, JANUARY 1, 2017 T he Economist Information Unit amended its estimates of the historical performance of the local economy from minus -1.6% and -2.1% for 2014 and 2015 respectively to 0.5% and 1.8% for 2014 and 2015.
It expects the GDP to continue its positive real growth by about 2.3% for 2016 but will weaken to score 1.6% for 2017; then it regains some strength to grow by about 2.6% in 2018. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
But under all cir- cumstances it will remain weak growth and incapable of creating enough jobs opportuni- ties.
And it expects nominal GDP to fall to about KD 32 billion in 2016 from the record level of KD 49.4 billion in 2013, then it will rise to KD 37.9 billion in 2017 and then to KD 41 billion in 2018.
The average price of Kuwaiti oil in 2016 scored US$ 38.9 per barrel down from an aver- age of about US$ 48 in 2015, losing about 18.9%. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
But the discrepancy in the barrel price was about 115.1% positive between its lowest average price at US$ 23.3 per barrel in January 2016 and US$ 50 average price for December of the same year.
The year started with a very weak average price level and ended with a high level, which is good.
OPEC and some producers out- side it agreed to withdraw 1.8 million barrels a day from the market: -1.2 million barrels a day for OPEC and 600 thousand barrels for non- OPEC producers. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
After they have been exhausted by produc- tion surplus wars.
The response was short term, i.e.
the rise in price by more than 20% while OPEC production losses were at 3.6% and 4.9% for Kuwait. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
And if the last oil agreement holds, macroeconomic performance indicators will be better -the economic growth level and condi- tions of external and internal balances- and vice versa, Therefore, we should be careful when we read the predictions of future performance of the domestic economy; the margin of likely error will remain significant. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Fiscal reform measures Expenditures allocations for fiscal year 2016/2017 -April 2016 to March 2017-scored about KD 18.892 billion, a slight drop by about 2.2% from the previous fiscal year appropria- tions, despite the impact of lower oil prices on reducing fuel and energy support expenses on the State budget. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Financial reform project seemed among the least influential items in terms of bridging the financial gap -diesel and electricity, water and gasoline- and the most vul- nerable to objection and debate.
On the con- trary, defense expenses and costs of treatment abroad were untethered at multiples of the impact of fiscal reform measures. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Even those actions, and after bargaining, pri- vate housing for citizens was exempted from electricity and water charges; citizens were granted 75 liters of gasoline per month.
In other words, the Government lacked the exemplary role and its priorities were reversed; the reaction of the street came directly in the results of par- liamentary election on November 26, 2016 which punished the 2013 National Assembly and the Government.
Nevertheless, seemingly, they didn’t work and the same Government returned. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
It is almost impossible to adopt any real or essential financial or economic reform policies. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
With a potential and prolonged weak- ness of the oil market, with the maximum potential price at US$ 60 per barrel, which is lower than the parity price for any future budg- et, and with the Government’s orientation to resort to domestic and global borrowing mar- kets, in addition to liquidating assets within its financial reserves, it is now certain that the financial and economic situations will not be sustainable, but the implications of the lack of sustainability are risky to the stability and not the development country in the future. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
After the US Federal Reserve Bank lifted the dollar interest by a quarter point in December 2015 and another quarter point in December 2016, The Central Bank of Kuwait has raised the discount rate to 2.25% after the first rise, and then to 2.5% after the second.
This means start- ing a contracting monetary policy.
This happens despite the difference in the position in the U.S. economic cycle from the cycle of the Kuwaiti economy. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The former is witnessing the begin- ning of recovery that drove it to anticipate the hot economy and hedge against inflation.
The latter is perching in its weak performance posi- tion and needs an expansionist monetary policy.
However, the Central Bank of Kuwait’s decision is correct because its targets lie in repatriating the Kuwaiti dinar, with the risks of failure to repatri- ate being much higher than the risks of weak economic growth. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Perhaps 2017 may carry more pressures and lifting interest rates on the US dol- lar are likely to be repeated, together with the Kuwaiti dinar.
This opens the door for more con- tracting monetary policies. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Weak growth rates With weak domestic economic growth rates and the beginning of a contracting monetary policy, coupled with an apparent inability of the public administration to adopt and apply gen- uine financial and economic reform policies, with the expansion of geopolitical violence in the region, all of which led to decline in confi- dence and caused pressures on liquidity and prices of main assets in Kuwait. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
After the stock exchange lost about 35.2% of its liquidity and Al Shall index lost about 17.6% of its value in 2015, the stock exchange lost about 27.5% of its liquidity and Al Shall index lost about 0.8% of its value in 2016.
As a result value of individ- uals’ wealth continued to decline in the local market as well as banks’ mortgages of stock values. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The real estate market was no better; after it lost 33.5% of its liquidity in 2015, it lost approximately 28% of its liquidity in 2016 - December figures are estimates- and most market components -private, investment and residential- lost a margin of their prices.
But due to the absence of price indices of these components we cannot give figures.
In summary, 2016 events were not positive in terms of their impact on the local economy. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The oil market continued weak; geopolitical violence continued to escalate; and the local public administration continued its inability to reduce the level of consequences, and it is unexpected to start a construction phase. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Performance of the global economy is still weak and the states which drive demand on oil like China and Asian Tigers lost a margin higher than their historical growth rates, and techno- logical developments of producing non-tradi- tional oil and development of preserving the environment contributed to continued weak economic growth in the long term. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Only one positive shift occurred during the year, ie OPEC agreement and oil producing countries from non-OPEC members to control production which provided Kuwait and States which heavi- ly rely on oil export a space of time, albeit short, to work hard on repairing their conditions; but the return of almost the same core Government dissipated a lot of hope for reform.
2. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
2.
Oil and Public Finance - December 2016 By the end of December 2016, the 9th month of the current fiscal year 2016/2017 end- ed and by the end of last summer and the talk about an agreement on the oil market prices began to rise.
The Kuwaiti oil price during October scored US$ 46.5 per barrel, and achieved the highest price during the year at US$ 51.91 per barrel on December 12, 2016.
The lowest price during the month was at US$ 47.68 per barrel on December 1, 2016. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The average Kuwaiti oil price for most of December scored US$ 50 per barrel rising by US$ 8.5 per barrel, or 20.6% above November aver- age which scored US$ 41.5 per barrel.
It is also higher by US$ 15 per barrel, 43%, than the hypo- thetical budget price at US$ 35 per barrel and is higher by US$ 5 than the hypothetical budget price for last fiscal year at US$ 45 per barrel. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
December 2015 price scored US$ 31.1 per barrel and the past fiscal year 2015/2016 which ended by the end of March 2016 achieved average price for the Kuwaiti barrel of oil at US$ 42.7.
This means that the average price for December 2016 rose by 17.1% above last fiscal year and rose by 60.9% above December 2015 average.
The State’s Financial Administration did not issue any monthly follow up report since December 2015. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
As estimate, Kuwait is supposed to have achieved actual net oil revenues in December in the amount of KD 1.1 billion.
Therefore, Kuwait would have achieved about KD 9.3 billion in oil revenues until the end of last December.
If we assume prices and production would remain as they are now -unrealistic assumption- oil revenues would score about KD 12.6 billion, 146% of estimated oil revenues in the budget for the entire current fiscal year which is in the amount of KD 8.6 billion. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Adding an amount of KD 1.6 billion in non-oil revenues, projected budget revenues would score KD 14.2 billion for the current fiscal year.
3.
Boursa Kuwait Liquidity Features 2016 By the end of 2016, Kuwait Boursa added to its liquidity during December -trading value- an amount of KD 321.5 million, or by 12.1% to the amount accumulated in the past eleven months of 2016, bringing the total liquidity in 2016 to about KD 2.873 billion. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Total liquidity of 2016 dropped by -27.5% compared with 2015 liquidi- ty.
In fact, the Boursa liquidity measured by value of daily trading, scored its peak in 2007 and since then the Boursa liquidity has been weak and scored lowest level in 2016 2.113 billion of total market liquidity, representing about 66.3% of its total capital value.
Number of speculation com- panies within the sample was 13 which captured 15.9% of total market trading value, i.e. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
KD 457.9 million, while their market value equaled 2.2% only of total value of Boursa companies com- pared with 12 speculation companies in 2015, which captured 1.9% of total market trading val- ue and 17.7% of market liquidity.
The average turnover of the share may pro- vide us with a different perspective to look at that speculation sharpness.
The index measures the percentage of the company trading value divided by its market value. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
While the turnover average of shares for all market companies con- tinued weak for all market companies at about 10.9%, and the Boursa needs twice this number at least to be liquid, and weak within the 30 top liquidity companies with the highest liquidity at about 11.9%, it scored about 79% for the 13 companies.
The highest company scored 833.1%, 567.4% for the second highest compa- ny, and 289.4% for the third highest. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Despite their high rise they remain less than the turnover average of this sample (30 company) of the com- panies in 2015 which scored 16.2%.
4.
Performance of Boursa Kuwait 2016 Boursa performance was affected by a num- ber of changes during 2016, some positive vari- ables, though its impact does not appear yet and most of it negative variables that left its impact during the year. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
As for the positive side, the Boursa turned into a private company in the spring of the year, though it did not finalize its measures and its performance supposed to improve by time.
By the end of the year, condi- tions of the oil market improved and in the last two months in the year, the Boursa witnessed increase in its liquidity and decrease in the losses of its main indexes, which might positively extend to its performance in 2017. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
As for the negative side, the Kuwaiti oil barrel average price lost about -18.9% of its level in 2016 compared to 2015.
Events of geopolitical violence escalated and the Central Bank of Kuwait began in December a contractual policy by raising the interest rate by 0.25% point with the possibility of repeating more than once in 2017. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
It was the result of the performance of main indexes of the Boursa, compared with its performance in 2015, Kuwait 15 Index lost about -1.7% and scored 885 points versus 900.4 points, the weighted index lost -0.4% and scored 380.1 points versus 381.7 points, while the price index gained 2.4% and scored 5,748.1 points versus 5,615.1 points.
This is a shameful index and does not reflect the reality of the change. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The impor- tant negative development, was the losses of liquidity of the Boursa in 2016, scored about - 27.5% from the level of liquidity in 2015, that was also scarce.
The daily average value of the Boursa trading in 2016, scored about KD 11.6 million versus KD 15.9 million in 2015.
Half of the listed companies (including 7 withdrawn companies from the Boursa in 2016) got 2.8% only from that scarce liquidity.
Even the relative- ly liquid companies the distribution of liquidity among them was unfair. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
13 companies whose market value equaled 2.2% only of Boursa’s val- ue, or by 15.9% of Boursa’s liquidity.
Scarce liq- uidity and its sharp deviation denote investors’ weak confidence in the Boursa.
Market capital- ization in the end of the year, for 184 listed com- panies, after the withdrawal of the “Future Communications Co. Global” during December 2016, scored KD 26.2 billion. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
When we compare their value in the end of 2015 for 183 companies (without including the “Safat Global Holding Co.” which was re-listed in November 2016), we note they rose by KD 137.9 million, or by 0.5%.
The number of gainers whose value increased was 70 companies out of 183 companies; 106 com- panies recorded varying drops in their values, while value of 7 companies did not change. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The Industry sector achieved the highest gain by KD 412.9 million, then the Telecommunications sec- tor rise by KD 290.2 million, due to the rise in “Zain” value.
While the banking sector dropped by KD 779.7 million.
As for listed companies, “GFH Financial Group” achieved the highest rise in its market capitalization value by KD 293.4 million, compared with its value at the beginning of the year, then “Zain” by KD 258.5 million rise, then “KFH” by KD 257.3 million. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
On the other hand, “NBK” achieved a decline in its value by KD 368.6 million, then “Burgan Bank” by KD 163.9 million, and then “Al Ahli United Bank” by about KD 124.4 million.
The banking sector is still domi- nating in its contributions to the Boursa market capitalization value by 47.2% (half of which belongs to two banks, “NBK” and “KFH”).
While the second largest contributing, the Telecommunications sector by 10.9% of the Boursa value. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Although the two sectors obtained 58.1% of the Boursa market capitaliza- tion value, their share from its liquidity, i.e.
trad- ing value, scored 44.6% while the financial sec- tor contribution by 9.6% of its share from the Boursa market capitalization value scored 19.8%.
If we accept profitability in the first nine months of 2016, as index for the profits of the entire year, we not a drop in profitability by -3%, by scoring KD 1.328 billion versus KD 1.369 billion for the same period in 2015. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The number of gaining companies which are common in the two peri- ods was 136 companies out of 176 companies, which declared their financial statements.
Gainers achieved KD 1.394 billion, deducted about KD 65.8 million, which represent 40 com- panies scored losses.
The banking sector con- tributed 51.9% of Boursa profits, then the telecommunications sector by 14%, while the 8 sectors contributed out of 12 sectors active in supporting these profitability and 4 sectors achieved absolute losses. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
As for companies, “NBK” was the leader in profits by KD 219.3 mil- lion, then the “Al Ahli United Bahraini Bank” by KD 133.5 million.
While “Al-Mal Investment Co.” achieved the highest losses by KD 14.1 million and “National Industries Group (Holding)” by KD 5.1 million losses. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
When analyzing the financial performance indicators for listed companies, according to the profit levels until end of September 30, calculat- ed on an annual basis, compared with the end of 2015, according to the schedule, we note that the price multiplier index market profitability (P/E) retreated -improved- to about 14.6 times compared with 15.4 times. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The price index to book value (P/B) retreated to 0.9 times com- pared with 1 times, while the return on equity (ROE) increased to 6.5%, compared with 6.3%, and return on total assets (ROA) increased slight- ly, to about 1.43% compared with 1.39%.
5. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The Weekly Performance of Boursa Kuwait The performance of Boursa Kuwait for last week was more active compared to the previ- ous one, where all indexes showed an increase, the traded value index, the traded volume index, number of transactions index, and gener- al index, AlShall Index (value weighted) closed at 363 points at the closing of last Thursday, showing an increase of about 2.6 points or about 0.7% compared with its level last week, while it decreased by 2.9 points or about 0.8% compared with the end of 2015. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The most important economic events in 2016 AL SHALL WEEKLY REPORT HONULULU: In this June 18, 2015 file photo, an ahi tuna sits packed in ice waiting to be auctioned at the United Fishing Agency.
— AP B U S I N E S S SUNDAY, JANUARY 1, 2017 NEW JERSEY: In this Wednesday, Oct 26, 2016, file photo, an attendant at a Shell gas station pumps gas for a motorist in Hasbrouck Height. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
— AP NEW YORK: In 2016, the Standard & Poor’s 500 index jumped 9.5 percent and bounced back from a flat result the year before, and energy companies and banks made some of the largest gains as investors bet on a stronger economy that will lead to more lending and spending.
Health care companies slumped as drug prices came under intense scrutiny. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Here’s a look at how the 11 industry sectors in the S&P 500 fared for the year: ENERGY: Up 23.7 percent At the beginning of the year it looked like 2016 would be another painful one for energy companies.
In February oil traded at $26 a barrel, down from more than $100 in mid-2014.
But over the next few months oil prices rose gradu- ally rose above $50, which reduced the scope of their losses.
Late in the year, OPEC and other oil producers agreed to cut their production in 2017. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The price of US crude finished the year up 45 percent.
Oil and gas company Oneok more than doubled in value for the year while Chevron had its best year since 1989.
FINANCIALS: Up 20.1 percent Banks and other financial companies sank ear- ly in 2016 as investors worried about slowing global economic growth.
After that they strug- gled as the Federal Reserve continually held off on raising interest rates. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
But the sector caught fire leading up to the election and afterward, as investors felt banks will be major beneficiaries of a Donald Trump administration.
Banks stand to benefit from increased government spending and borrowing connected to greater spending on infrastructure, as well as faster economic growth, looser regulations and rising interest rates.
Huge gains in the weeks after the election took bank stocks to their highest levels since 2008. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
INDUSTRIALS: Up 17.8 percent Companies that make construction equip- ment, engines and aircraft also made large gains as the U.S. economy picked up steam.
Investors bet that the election of Trump, and a Republican Congress that could approve his spending pro- posals, will lead to more spending on construc- tion, manufacturing, and transportation.
The sector, which includes companies like Boeing and General Electric, reached all-time highs at the end of the year. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Caterpillar was the best-per- forming Dow Jones industrial average compo- nent in 2016 while farm equipment maker Deere rose to an all-time high.
TELECOMMUNICATIONS: Up 16.1 percent Phone company stocks surged early in 2016 as the market got off to a historically bad start.
Investors bought those stocks, which are often compared to bonds because of their large divi- dend yields and relative stability. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Low bond yields have helped make the small sector attrac- tive as well, drawing in investors who sought income.
Later the stocks gradually lost steam as investors saw signs the economy was picking up and hoped for faster growth.
Thanks to AT&T’s biggest gain since 2006, the stocks ultimately bounced back from two years of declines. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
MATERIALS: Up 14.1 percent Companies that make materials like packag- ing, specialty chemicals and mine for metals also rebounded, partly because precious metals prices bounced back in 2016 after several years of losses.
Copper, which is linked to expectations for economic growth because of its uses in con- struction, climbed 17 percent.
Higher metals prices led to big gains for gold and copper pro- ducer Freeport-McMoran, gold miner Newmont Mining and steel maker Nucor. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Building materi- als companies like Martin Marietta also climbed.
UTILITIES: Up 12.2 percent With government bond yields at their lowest levels in many years and investors nervous about the state of the economy, utility compa- nies were in the unusual position of leading the market in early 2016.
Electric and gas utilities were a safe harbor for worried investors.
But as confidence in the economy picked up, they lost that leadership position. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Overall they recovered the previous year’s losses and rose a bit more than the S&P 500.
TECHNOLOGY: Up 12 percent Technology companies rose for the eighth year in a row.
The stocks surged this summer as the U.S. economy appeared to gain strength, while critical overseas markets also looked healthier.
The technology sector didn’t do as well following the election, however, as investors wondered if Trump’s trade and immi- gration policies and his inflammatory rhetoric would hurt their sales overseas. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Graphics processor company Nvidia more than tripled in value and performed better than any other S&P 500 stock, while Hewlett-Packard’s breakup left two stocks that both did well.
CONSUMER DISCRETIONARY: Up 4.3 percent Consumer discretionary stocks, including retailers, media companies and other companies that rely on consumer spending, rose for the eighth year in a row as shoppers remained a crit- ical part of the still-growing US economy.
But the gains were smaller than last year. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
But the gains were smaller than last year.
Athletic apparel makers Nike and Under Armour both slumped as their competition appeared to grow more costly, while fallout from food safety scares continued to hurt Chipotle Mexican Grill.
CONSUMER STAPLES: Up 2.6 percent Companies that make and sell common household goods are generally considered a safe investment.
But in 2016, investors preferred stocks that will benefit more from faster eco- nomic growth. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The stocks did rise for the eighth consecutive year, however.
Food distributor Sysco climbed 35 percent after it acquired European competitor Brakes, and Wal-Mart made a partial recovery after a 27-percent drop last year.
REAL ESTATE: Up less than 0.1 percent Real estate has been one of the strongest- performing asset classes in recent years.
That’s been good news for real estate investment trusts, which were split off as a separate sector this year. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Investors poured money into REITs starting in February, when the market reached its recent lows.
But starting in the summer, faster growth in the U.S. economy made other types of investments more appealing.
HEALTH CARE: Down 4.4 percent.
Drug makers were pummeled in 2016 as their pricing strategies came under repeated criticism and Congressional scrutiny.
Investors wondered if the government will intervene to reduce those hikes.
Biotechnology companies like Vertex and Alexion were hit especially hard. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Endo slumped thanks to legal costs and weak earnings and Mylan fell during a controversy over the rising price of its EpiPen allergy shot.
Some insurance companies, including UnitedHealth and Aetna, traded higher.
One reason is that Wall Street thinks the possible repeal of the Affordable Care Act will strengthen their profits.
Overall, health care stocks fell for the first time since 2008. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
— AP Energy companies and banks led rally on S&P 500 in 2016 How the 11 industry sectors in the S&P 500 LOS ANGELES: Merger and re-merger mania, worries about cord-cutting, concerns about the strong dollar overseas and fretting about the ero- sion of TV’s traditional advertising market all con- tributed to an eventful year for media and enter- tainment stocks.
Most of showbiz’s core con- gloms finished out the year on an up note-with Viacom, Lionsgate and AMC Networks being notable exceptions. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The Dow index was up 13.4% for the year, thanks in part to a strong run that began in early November.
The Nasdaq gained 7.5% for the year while the S&P 500 spiked 9.5%.
Time Warner was the big winner for the year with a 49% boost coming as AT&T surprised the biz with its aggressive and whirlwind courtship that ended with the $85.4 billion merger announcement on Oct. 22.
But Time Warner shares were buoyant for most of the year before AT&T came into the picture. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
CBS also benefitted from the market specula- tion about deals afoot, coupled with strong earn- ings and momentum demonstrated for its CBS All Access streaming service.
The drama sur- rounding the fate of CBS controlling shareholder Sumner Redstone’s empire took a toll on the stock in early February but it began to recover the following month. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
CBS shares never sagged again despite the potential for the re-merger with its ailing corpo- rate sibling Viacom-a flirtation that was called off by the Redstone clan earlier this month.
Like oth- er media congloms, CBS began a steady climb in early November that padded its double-digit year-to-date gain.
Viacom, on the other hand, felt the pinch of all the turmoil surrounding the management of the company. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Shares were down more than 20% in early February as the Redstone-related pressure began to heat up.
The stock felt the seesaw effect through the summer and fall but it has held mostly steady since late September.
Disney’s bumpy year Disney had a bumpy year after a big “Star Wars: The Force Awakens” run-up in the second half of 2015. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Concerns about subscriber losses and mounting costs at ESPN dogged the stock for most of the summer and fall, but Disney man- aged to stay essentially flat for the year after a jump in early December as the release of “Rogue One: A Star Wars Story” approached. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
Comcast, on the other hand, rode positive news for its cable unit, growth at NBCUniversal and the acquisition of DreamWorks Animation to a steady upward march for most of the year, with the exception of a brief dip just after the Time Warner-AT&T union was unveiled.
Lionsgate’s ho-hum year at the box office took a toll on the stock but the closing of its acquisi- tion of Starz gave it a late-year bounce to cut its year-to-date loss down from 19% in early December to about 14% as of Dec. 30. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
AMC Networks was stalked throughout the year by concerns about its dependence on “The Walking Dead” franchise as an earnings driver.
Although the AMC drama remains TV’s highest- rated scripted series in the adults 18-49 demo, viewership declines after several seasons of explosive growth raised red flags for Wall Street.
The sharply lower ratings for season two of the spinoff series “Fear the Walking Dead” also were a bad omen for AMC. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
— Reuters Entertainment Stocks had wild ride in 2016 SAO PAULO: It was a surprisingly great year for investors brave enough to put money in Brazilian stocks, even though the country spent 2016 floundering through its worst recession in a century and rocked by political instability.
Paradoxically, this year of economic crisis, presidential impeachment and unending corruption scandals in Latin America’s largest economy was also a boom year for the Sao Paulo stock exchange. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The Ibovespa index gained 38.9 per- cent on the year, its first year in the black since 2012.
That happened despite the political turbulence caused by the impeachment of president Dilma Rousseff, a massive corruption scandal at state oil giant Petrobras, and the economy shrink- ing an estimated 3.49 percent-its second year of deep recession. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
The market may have gotten a confi- dence boost from the resolution of the drawn-out impeachment drama, which ended with the installation of center-right President Michel Temer in August.
But more importantly, analysts say, signs of a rebound for Brazil’s key commodity exports gave companies like Petrobras and mining giant Vale a major shot in the arm.
Petrobras shares gained 121.9 percent on the year.
Shares in Vale, the world’s largest iron ore producer, rose 129 percent. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |
And shares in steel producer Gerdau soared 189.2 percent.
“The stock market and the Brazilian real took off in 2016 compared to other world markets.
I don’t think that has to do with domestic matters like the political crisis or impeachment.
That played a part, but it’s really about commodity prices, especially oil,” said Andre Perfeito, chief economist at consulting firm Gradual Investimentos.
“The Brazilian market is very sensitive to external variations because it’s very large. | https://docs-lawep.s3.us-east-2.amazonaws.com/thematic2f/pw_2/1721904392576.pdf | https://kuwaittimes.com/uploads/imported_images/pdf/2017/jan/01/kt.pdf | Cape Verde |