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Boursa Kuwait sheds KD 65m of its market cap

Posted by on 21/10/2017
Filed under Business

Boursa Kuwait sheds KD 65m of its market cap

Boursa Kuwait sheds KD 65m of its market cap

Small cap stocks witness random purchasing   KUWAIT: Boursa Kuwait ended last week with mixed performance. The Price Index closed at 6,633.07 points, up by 0.07 percent from the week before closing, the Weighted Index decreased by 0.01 percent after closing at 431.52 points, whereas the KSX-15 Index closed at 1,004.88 points down by 0.01 […]

Riyadh plans to abolish deficit by 2020

Posted by on 19/10/2017
Filed under Business

Riyadh plans to abolish deficit by 2020

Riyadh plans to abolish deficit by 2020

Saudi needs Aramco billions as recession slows austerity drive DUBAI: Saudi Arabia’s plans to sell state assets – including a stake in energy giant Saudi Aramco – are becoming even more important to its finances as a recession slows Riyadh’s effort to close a budget deficit caused by low oil prices. Last December, Riyadh released […]

China’s central bank warns of Minsky moment as economy powers ahead

Posted by on 19/10/2017
Filed under Asia, Business

China’s central bank warns of Minsky moment as economy powers ahead

China’s central bank warns of Minsky moment as economy powers ahead

 China credit bubble threatening global economy – Efforts to curb financial risks beginning to weigh BEIJING: China’s central bank chief yesterday issued a stark warning about asset bubbles in the world’s second-largest economy, which looks set to clock its first acceleration in annual growth since 2010, driven by public spending and record bank lending. Speaking […]

Warning for China as US hails India partnership

Posted by on 19/10/2017
Filed under America, Asia, Business, Subcontinent, Top Stories, World

Warning for China as US hails India partnership

Warning for China as US hails India partnership

Tillerson promises ‘free and open’ Indo-Pacific WASHINGTON: The United States vowed Wednesday to work with India in preference to China over the next century to promote a “free and open” Asia-Pacific region led by prosperous democracies. Secretary of State Rex Tillerson delivered his unexpectedly sharp message to Beijing on the same day President Xi Jinping […]

AUB achieves a net profit of KD 40m for 9 months

Posted by on 18/10/2017
Filed under Business

AUB achieves a net profit of KD 40m for 9 months

AUB achieves a net profit of KD 40m for 9 months

Total operating income grew by 6.6% to KD 84.5 million – Total assets grew by 4.9% to KD 3.9bn as of 30 Sept 2017 KUWAIT: Ahli United Bank (AUB) reported a net profit KD 40 million for the nine months ending on 30 September 2017 in comparison to KD 39.1 million for the same period […]

Cash-loving Japanese savers opt to stash money in home safe

Posted by on 18/10/2017
Filed under Asia, Business, Top Stories, World

Cash-loving Japanese savers opt to stash money in home safe

Cash-loving Japanese savers opt to stash money in home safe

People wary of possible negative interest rates – Americans hold just 13% of their savings in cash TOKYO: The Tokyo stock market might be riding two-decade highs, but a growing number of Japanese are choosing to stash their cash in the humble home safe, wary of negative interest rates in the bank and out of […]

Warba Bank heads towards innovation breakthrough in Islamic banking sector

Posted by on 18/10/2017
Filed under Business

Warba Bank heads towards innovation breakthrough in Islamic banking sector

Warba Bank heads towards innovation breakthrough in Islamic banking sector

Net profits up by 442% reaching KD 4.752 m for first 9 months of 2017 KUWAIT: By the grace of Allah, Warba Bank, the best investment and corporate bank in Kuwait , has announced that it has achieved remarkable financial results for the first nine months of 2017, reflected by its net profits which increased […]

K-Net transactions value surpassed $1 bln in 2016, says Minister

Posted by on 17/10/2017
Filed under Business, Kuwait, Other News

K-Net transactions value surpassed $1 bln in 2016, says Minister

K-Net transactions value surpassed $1 bln in 2016, says Minister

KUWAIT: Minister of Commerce and Industry Khaled Al-Roudhan said yesterday that the transactions value of the retail payment system (K-Net) in Kuwait has surpassed $1 billion in 2016. Digital business in Kuwait has seen lately a major prosperity, Roudhan, also Acting Minister of State for Youth Affairs, said in his opening speech at the second […]

GOFSCO Hails Successful Platinum Sponsorship of 3rd Kuwait Oil and Gas Show and Conference

Posted by on 17/10/2017
Filed under Business

GOFSCO Hails Successful Platinum Sponsorship of 3rd Kuwait Oil and Gas Show and Conference

GOFSCO Hails Successful Platinum Sponsorship of 3rd Kuwait Oil and Gas Show and Conference

CEO participates in panel discussion KUWAIT: Gas and Oil Fields Services Company (GOFSCO), one of the largest integrated service providers in Kuwait specializing in the upstream oil and gas sector, both onshore and offshore, hailed the successful Platinum sponsorship of the 3rd Kuwait Oil and Gas Show and Conference (KOGS 2017) which was held from […]

Gulf Bank records 10% Y-o-Y rise in net profit for first 9 months of 2017

Posted by on 17/10/2017
Filed under Business

Gulf Bank records 10% Y-o-Y rise in net profit for first 9 months of 2017

Gulf Bank records 10% Y-o-Y rise in net profit for first 9 months of 2017

Bank generates net interest income of KD 97.2 million KUWAIT: Gulf Bank K.S.C.P. announced yesterday its financial results for the first nine months of 2017. The bank recorded a net profit of KD 36.1 million in the first nine months of 2017, an increase of 10 percent over the same period in 2016. The Bank […]

NBK named Best Bank in Kuwait 2017 by Global Finance

Posted by on 17/10/2017
Filed under Business

NBK named Best Bank in Kuwait 2017 by Global Finance

NBK named Best Bank in Kuwait 2017 by Global Finance

KUWAIT: National Bank of Kuwait (NBK) has been named the Best Bank in Kuwait 2017 by the international financial publication Global Finance. The award was presented to George Richani, General Manager – International Banking Group at NBK, at an award ceremony held on the occasion of the International Monetary Fund Annual meeting held in Washington. […]

Fitch Ratings upgrades Gulf Bank’s Viability Rating to “bb+” from “bb”

Posted by on 17/10/2017
Filed under Business

Fitch Ratings upgrades Gulf Bank’s Viability Rating to “bb+” from “bb”

Fitch Ratings upgrades Gulf Bank’s Viability Rating to “bb+” from “bb”

KUWAIT: Fitch Ratings has upgraded Gulf Bank’s Viability Rating to ‘bb+’ from ‘bb’ and affirmed the bank’s Long-Term Issuer Default Rating at ‘A+’ with a Stable Outlook. According to Fitch Ratings, the viability rating upgrade reflects Gulf Bank’s strong strategy execution and improving underwriting standards and asset-quality. Fitch Rating mentioned that Gulf Bank continues to […]

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