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Private sector credit drops, but growth maintains pace

Posted by on 15/08/2016
Filed under Business

Private sector credit drops, but growth maintains pace

Private sector credit drops, but growth maintains pace

KUWAIT: Private sector credit declined in April, though growth maintained a healthy pace. Total credit was down by KD 156 million during the month as growth slowed to 7.7 percent year-on-year (y/y). The decline was dominated by a drop in credit for securities purchases, but other sectors were also off. Meanwhile, private deposits saw a […]

Oil oversupply concerns resurface as prices rise – KAMCO Oil Market Monthly Report

Posted by on 14/08/2016
Filed under Business

Oil oversupply concerns resurface as prices rise – KAMCO Oil Market Monthly Report

Oil oversupply concerns resurface as prices rise – KAMCO Oil Market Monthly Report

KUWAIT: A number of developments kept the oil market on its heels during August-16 that included a 2.1 million increase in US crude oil inventory during the week ending 5-Aug-16, according to the API. Rig count also saw the biggest jump in 2016 and rose for the seventh straight week. On the other hand, the […]

NREC reports net profit of KD7.6 million for H1 2016 – Operating revenue reaches KD14.9 million

Posted by on 14/08/2016
Filed under Business

NREC reports net profit of KD7.6 million for H1 2016 – Operating revenue reaches KD14.9 million

NREC reports net profit of KD7.6 million for H1 2016 – Operating revenue reaches KD14.9 million

KUWAIT: National Real Estate Company (NREC), a leading regional asset manager and developer with development projects exceeding $ 1 billion in both Egypt and the UAE, yesterday released its financial results for the first half of 2016. The company recorded growth in top-line earnings of 52 percent and a net profit KD7.6 million. Revenue growth […]

IMF agrees $12 bn loan to Egypt – Loan to help bolster ailing economy

Posted by on 11/08/2016
Filed under Business, Middle East, Top Stories, World

Gulf stocks soft, Saudi edges down

Posted by on 11/08/2016
Filed under Business

Gulf stocks soft, Saudi edges down

Gulf stocks soft, Saudi edges down

DUBAI: Gulf stock markets were soft early yesterday after oil prices and global bourses pulled back, while Saudi Arabia edged down despite the Saudi regulator’s announcement that it would ease restrictions on foreign investment sooner than expected. The Saudi index fell 0.3 percent in the first 75 minutes of trade with most banks and many […]

GCC banking sector needs to quickly adopt digital practices to remain competitive

Posted by on 10/08/2016
Filed under Business

GCC banking sector needs to quickly adopt digital practices to remain competitive

GCC banking sector needs to quickly adopt digital practices to remain competitive

KUWAIT: The Gulf Council Countries (GCC) banking sector has witnessed a remarkable transformation in the past few years, thanks to the region’s robust economic growth and development as well as the rising demand by its young and technology-savvy population for a better digital banking experience. Modern-day customers are informed, well educated, and better connected due […]

Ford extends deadline for 2016 Environmental Grants Program in MENA

Posted by on 10/08/2016
Filed under Business

Ford extends deadline for 2016 Environmental Grants Program in MENA

Ford extends deadline for 2016 Environmental Grants Program in MENA

KUWAIT: The Ford Motor Company Conservation and Environmental Grants program extends the deadline to receive application for funding for on-going environmental projects to September 11, 2016. The 16th edition of the initiative will provide funding to on-going environmental projects in the Middle East and North Africa awarding a total of US$120,000 – the highest total […]

Operational risk significant threat facing any financial body: Governor

Posted by on 09/08/2016
Filed under Business, Kuwait, Other News

Operational risk significant threat facing any financial body: Governor

Operational risk significant threat facing any financial body: Governor

KUWAIT: Governor of the Central Bank of Kuwait Dr Mohammad Al-Hashel said yesterday that operational risk is one of the most significant risks faced by any financial institution, as evidenced by the major losses of the financial services industry experienced over the past few decades which were prompted by a series of operational failures. The […]

Delta cancels 300 flights after outage – Airline seeks forgiveness with refunds, vouchers

Posted by on 09/08/2016
Filed under America, Business, Top Stories, World

Ford Middle East reaffirms its commitment to Kuwait market – Alghanim Auto to be authorized importer of Ford brand products

Posted by on 09/08/2016
Filed under Business

Ford Middle East reaffirms its commitment to Kuwait market – Alghanim Auto to be authorized importer of Ford brand products

Ford Middle East reaffirms its commitment to Kuwait market – Alghanim Auto to be authorized importer of Ford brand products

KUWAIT: Ford Motor Company said it is committed to growing its business in Kuwait and most importantly, better serve Ford and Lincoln customers with the best brand representation, at a news conference held earlier yesterday. Speaking to the local news media in Kuwait, Kalyana Sivagnanam, Marketing, Sales and Services Vice President, Ford Middle East and […]

Ooredoo appoints Al Babtain Senior Director for B2B

Posted by on 09/08/2016
Filed under Business

Ooredoo appoints Al Babtain Senior Director for B2B

Ooredoo appoints Al Babtain Senior Director for B2B

KUWAIT: Ooredoo Kuwait, yesterday announced the appointment of AbdulazizYaqoub Al Babtain as Senior Director for B2B. Welcoming Al Babtain, Sheikh Mohammed Bin Abdullah Al-Thani, Ooredoo Kuwait General Manager and CEO, said: “Ooredoo Kuwait has recently recorded major achievements and key developments including launching innovative services on many different levels including B2B. These major steps are […]

Not about the salary: Fresh graduates in Kuwait want job they feel passionate about

Posted by on 08/08/2016
Filed under Business, Kuwait, Other News

Not about the salary: Fresh graduates in Kuwait want job they feel passionate about

Not about the salary: Fresh graduates in Kuwait want job they feel passionate about

KUWAIT: At around 23 percent, the soaring rates of youth unemployment across the Middle East and North Africa region, are almost twice the global average of 13 percent. These figures have led to discontent among fresh graduates in Kuwait, who claim – according to the Bayt.com ‘Fresh Graduates in the Middle East and North Africa […]