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Putin promises economic recovery to worried Russia

Posted by on 18/12/2014
Filed under Business, Top Stories

Putin promises economic recovery to worried Russia

Putin promises economic recovery to worried Russia

  MOSCOW: President Putin yesterday attempted to assuage fears of economic collapse and promised rapid recovery as he faced hundreds of journalists during the worst financial crisis of his rule. Speaking at his annual press-conference, the Russian leader said that the economic downturn will last two years at the most and he promised to support […]

Russia spends billions to prop up ruble – Sinking Russian economy becoming a global threat

Posted by on 17/12/2014
Filed under Business, Top Stories

Russia spends billions to prop up ruble – Sinking Russian economy becoming a global threat

Russia spends billions to prop up ruble – Sinking Russian economy becoming a global threat

MOSCOW: Russia stepped up its defense of the ruble yesterday as it sought to halt a run on the currency and stem the worst financial crisis of President Vladimir Putin’s 15 years in power. The intervention comes as Washington prepared to pile further sanctions on Russia over its support for the separatist insurgency in Ukraine, […]

Rouble crisis may shake Putin’s grip on power – Central bank, government have limited options

Posted by on 16/12/2014
Filed under Business, Top Stories

Rouble crisis may shake Putin’s grip on power – Central bank, government have limited options

Rouble crisis may shake Putin’s grip on power – Central bank, government have limited options

MOSCOW: Russia failed to halt the collapse of the rouble yesterday, leaving President Vladimir Putin facing a full-blown currency crisis that could weaken his iron grip on power. A 6.5 percentage point interest rate rise to 17 percent overnight failed to prevent the currency hitting record lows in a “perfect storm” of low oil prices, […]

Oil hits five-year low as OPEC stands pat – Euro on defensive as markets eye ECB stimulus

Posted by on 15/12/2014
Filed under Business

Oil hits five-year low as OPEC stands pat – Euro on defensive as markets eye ECB stimulus

Oil hits five-year low as OPEC stands pat – Euro on defensive as markets eye ECB stimulus

NEW YORK: Oil prices plumbed 5-1/2-year lows yesterday, pulling down emerging market assets and boosting demand for the safe-haven yen, while global equity markets slipped further after last week’s rout amid nagging worries about worldwide growth. Stocks on Wall Street opened higher but soon retreated as crude oil prices gave up early gains after the […]

Keep your valuables safe with ABK’s safe deposit boxes

Posted by on 14/12/2014
Filed under Business

Keep your valuables safe with ABK’s safe deposit boxes

Keep your valuables safe with ABK’s safe deposit boxes

KUWAIT: Al Ahli Bank of Kuwait offers varied services to provide a well rounded banking experience to its customers, one of them being the safe deposit boxes equipped with high standards of security to keep the customers’ valuables safe. The service is available in 17 of ABK’s branches all around Kuwait, where customers can place […]

Financial advisor in Burgan Bank’s capital increase transaction

Posted by on 14/12/2014
Filed under Business

Financial advisor in Burgan Bank’s capital increase transaction

Financial advisor in Burgan Bank’s capital increase transaction

KUWAIT: KAMCO, a leading investment company with one of the largest AUMs in the region, announced as the financial advisor the successful completion of Burgan Bank’s capital increase. Burgan Bank’s CEO, Eduardo Eguren, said, “We are proud to have KAMCO as our financial advisor, to play a leading role in such an important transaction by […]

VIVA’s stocks officially traded on Kuwait Stock Exchange

Posted by on 14/12/2014
Filed under Business

VIVA’s stocks officially traded on Kuwait Stock Exchange

VIVA’s stocks officially traded on Kuwait Stock Exchange

KUWAIT: The stock of the Kuwait’s telecom operator, VIVA will officially begin trading on the Kuwait Stock Exchange (KSE) yesterday. The company will be listed under the telecommunication sector and the English stock symbol will be “VIVA”. Attended by VIVA’s Chairman, Adel Mohamed El Roumi, VIVA’s Chief Executive Officer, Eng. Salman Bin Abdulaziz Al-Badran, the […]

Horizon FCB & Behbehani celebrate 25 years of partnership

Posted by on 14/12/2014
Filed under Business

Horizon FCB & Behbehani celebrate 25 years of partnership

Horizon FCB & Behbehani celebrate 25 years of partnership

KUWAIT: Horizon FCB, one of Kuwait’s most prominent full service communication agencies, and MoradYousuf Behbehani, the leading high end conglomerate, held a celebration marking 25 years of solid rock partnership in Kuwait. The silver jubilee celebrations stood as a tribute to a fruitful and proactive partnership that has stood the test of time in an […]

Computer failure sparks flight chaos over Britain

Posted by on 13/12/2014
Filed under Business, Europe, Technology, Top Stories, World

Computer failure sparks flight chaos over Britain

Computer failure sparks flight chaos over Britain

LONDON: Britain suffered air travel chaos on Friday-just as its peak Christmas season was getting under way-because of a computer failure at an air traffic control centre. Flights were unable to take off or land at some British airports during the brief breakdown, which caused flow-on delays and backlogs at airports around Europe. London’s Heathrow […]

Burgan Bank wins ‘International Diamond Star for Quality’ award

Posted by on 13/12/2014
Filed under Business

Burgan Bank wins ‘International Diamond Star for Quality’ award

Burgan Bank wins ‘International Diamond Star for Quality’ award

KUWAIT: Burgan Bank announced that is has recently won again and for the second year, the prestigious “International Diamond Star for Quality” award from Business Initiative Directions (BID), a world- wide renowned organization that recognizes companies that implement and promote a strong quality culture. The bank’s recognition demonstrates its commitment to applying the highest quality […]

NBK introduces new features to its Mobile Banking Application – Advanced and innovative services

Posted by on 13/12/2014
Filed under Business

NBK introduces new features to its Mobile Banking Application – Advanced and innovative services

NBK introduces new features to its Mobile Banking Application – Advanced and innovative services

KUWAIT: National Bank of Kuwait (NBK) updated its Mobile Banking Application to introduce several new features. The new features include an Arabic version and several other enhancements designed to cater to its wide and growing customer base. “NBK has always taken the lead when it comes to change. The new features added to the Mobile […]

KSE ends in the red zone, down 4.61%

Posted by on 13/12/2014
Filed under Business

KSE ends in the red zone, down 4.61%

KSE ends in the red zone, down 4.61%

KUWAIT: Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 6,463.76 points, down by 4.61% from the week before closing, the Weighted Index decreased by 4.13% after closing at 437.70 points, whereas the KSX-15 Index closed at 1,061.90 points, down by 4.36%. Furthermore, last week’s average daily turnover […]

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