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Markaz: Most of the GCC Markets Were Positive in August Despite a Slide in Oil Prices

Markaz: Most of the GCC Markets Were Positive in August Despite a Slide in Oil Prices
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GCC markets positive in August despite a slide in oil prices

GCC markets ended positive in August even as oil prices fell 12.3% with downwards pressure on demand. Qatar posted a slight gain backed by high oil, while Saudi index was up driven by positive Q2 earnings from top blue-chip companies.

Kuwait s QPIC net profit increases 300% to $20 55m

Qurain Petrochemical Industries Company (QPIC) has announced a net profit of KD6.3 million ($20.55 million) for the first quarter ended June 30, 2022, compared to KD1.56 million for the same period last year, an increase of 300% year-on-year (YoY).

Kuwait s QPIC net profit increases 300% to $20 55m

Qurain Petrochemical Industries Company (QPIC) has announced a net profit of KD6.3 million ($20.55 million) for the first quarter ended June 30, 2022, compared to KD1.56 million for the same period last year, an increase of 300% year-on-year (YoY).

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