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Saudi to open $530bn bourse to foreigners – Authorities want to diversify economy beyond oil

Posted by on 22/07/2014
Filed under Business, Top Stories

Saudi to open $530bn bourse to foreigners – Authorities want to diversify economy beyond oil

Saudi to open $530bn bourse to foreigners – Authorities want to diversify economy beyond oil

RIYADH: Saudi Arabia’s cabinet gave permission to the financial regulator to open the Arab World’s biggest stock market to direct investment by foreign financial institutions. The opening of the Saudi market, capitalized at about $530 billion, is one of the most keenly awaited economic reforms in the world’s biggest oil exporter. The bourse would be […]

Cash-flush Gulf banks grab top spots in loan market

Posted by on 21/07/2014
Filed under Business, Top Stories

Cash-flush Gulf banks grab top spots in loan market

Cash-flush Gulf banks grab top spots in loan market

DUBAI: Cash-rich Gulf banks are grabbing a growing share of the region’s loan market as they cut fees and ease terms, elbowing aside some of the foreign banks which used to dominate lending. The shift reflects the weakened state of European and US banks in the wake of the global financial crisis; they face cost-cutting […]

How can Malaysia Airlines salvage its brand?

Posted by on 20/07/2014
Filed under Business, Top Stories

How can Malaysia Airlines salvage its brand?

How can Malaysia Airlines salvage its brand?

Malaysia Airlines is in uncharted territory after the disappearance of Flight 370 in March with 239 people aboard was followed this week by the downing of another of its jets, carrying 298 people, over Ukraine. Before the disasters the carrier had among the worst financial performance of any airline. An even bigger question mark now […]

MH17 crash clouds over G20 trade summit

Posted by on 19/07/2014
Filed under Business, Top Stories

MH17 crash clouds over G20 trade summit

MH17 crash clouds over G20 trade summit

SYDNEY: Trade ministers from the world’s leading economies met in Sydney yesterday for the latest round of G20 talks, with the crash of Malaysia Airlines Flight MH17 threatening to overshadow the summit. G20 chair Australia has sought to keep the meeting focused on economic growth, but Thursday’s disaster in rebel-held territory in eastern Ukraine put […]

Business leaders urge G20 reforms to boost global growth by $3.4tn

Posted by on 18/07/2014
Filed under Business, Top Stories

Business leaders urge G20 reforms to boost global growth by $3.4tn

Business leaders urge G20 reforms to boost global growth by $3.4tn

SYDNEY: Business leaders in Australia yesterday called on G20 leading economies to implement recommendations on structural reforms and free trade that could boost global growth by US$3.4 trillion and create millions of jobs. The business chiefs, who are in Sydney for a two-day B20 summit, said their list of 20 recommendations-if adopted by G20 leaders-would […]

BRICS to create development bank, ‘mini-IMF’

Posted by on 15/07/2014
Filed under Business, Top Stories

BRICS to create development bank, ‘mini-IMF’

BRICS to create development bank, ‘mini-IMF’

FORTALEZA: Leaders of the BRICS group of emerging powers met yesterday to launch a new development bank and a reserve fund seen as counterweights to Western-led financial institutions. Brazilian President Dilma Rousseff hosts the leaders of Russia, India, China and South Africa in Fortaleza on Tuesday before talks with South American leaders the next day […]

Asian shares gain, count on Fed’s support

Posted by on 15/07/2014
Filed under Business, Top Stories

Asian shares gain, count on Fed’s support

Asian shares gain, count on Fed’s support

    TOKYO: Asian shares rose yesterday after Citigroup’s earnings and a fresh round of merger and acquisition activity in the US healthcare sector lifted global stock prices. Yet, with elevated prices on Wall Street and elsewhere relying substantially on support from low interest rates, many investors were now focusing on Federal Reserve Chair Janet […]

NBK participates in financing KPI’s acquisition of Shell’s Italian assets

Posted by on 14/07/2014
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NBK participates in financing KPI’s acquisition of Shell’s Italian assets

NBK participates in financing KPI’s acquisition of Shell’s Italian assets

KUWAIT: National Bank of Kuwait (NBK) has participated in financing Kuwait Petroleum International’s (KPI) acquisition of Shell’s Italian assets. NBK is the only Arab and Kuwaiti bank participating in this financing. Shaikha Al-Bahar, NBK’s Deputy Group Chief Executive Officer, and Bakheet Al-Rashidi, KPI Chief Executive Officer, signed the loan agreement at KPI’s headquarters in Kuwait. […]

Zain to offer high-speed Wi-Fi to customers at Avenues Mall

Posted by on 14/07/2014
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Zain to offer high-speed Wi-Fi to customers at Avenues Mall

Zain to offer high-speed Wi-Fi to customers at Avenues Mall

KUWAIT: Zain, the leading telecommunications company in Kuwait, announced yesterday that it will be providing high-speed Wi-Fi Internet coverage to customers at the Avenues Mall in Kuwait. The company’s Wi- Fi coverage will extend across the entire mall, which is the most visited in Kuwait, before the end of the year. Possessing the most advanced […]

Qalaa Holdings increases stake in microfinance leader Tanmeyah

Posted by on 14/07/2014
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Qalaa Holdings increases stake in microfinance leader Tanmeyah

Qalaa Holdings increases stake in microfinance leader Tanmeyah

KUWAIT: African leader in infrastructure and industry will take its ownership stake to 70 percent from 51 percent through full subscription to an already-approved capital increase and a minor acquisition. Qalaa Holdings (CCAP.CA on the Egyptian Exchange, formerly Citadel Capital) has fully subscribed to an EGP 15 million capital increase for Tanmeyah for Micro Enterprise […]

Kuwait posts biggest daily gain in 8 months – Analysts expect strong Q2 profits at Kuwaiti banks

Posted by on 13/07/2014
Filed under Business, Top Stories

Kuwait posts biggest daily gain in 8 months – Analysts expect strong Q2 profits at Kuwaiti banks

Kuwait posts biggest daily gain in 8 months – Analysts expect strong Q2 profits at Kuwaiti banks

DUBAI: Kuwait’s bourse stood out in an otherwise sluggish region yesterday as investors were encouraged by government spending plans, a positive outlook for the banking sector and a string of debt settlement deals. The Kuwaiti index climbed 1.5 percent to a one-month closing high of 7,179 points, its biggest daily gain since October. Trading volume […]

MSRY Behbehani excels at Isuzu Service ME Grand Prix Competition

Posted by on 13/07/2014
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MSRY Behbehani excels at Isuzu Service ME Grand Prix Competition

MSRY Behbehani excels at Isuzu Service ME Grand Prix Competition

KUWAIT: Mohammad Saleh & Reza Yousuf Behbehani Company, the authorized distributor of Isuzu vehicles for the State of Kuwait, has outshone again bagging several awards at the Isuzu Service Middle East Grand Prix Skill Competition 2014, held in Dubai last month. Out of 11 team participated from the Middle East Dealers, the Behbehani Isuzu Service […]

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