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NBK to issue KD, Basel three-compliant bonds worth KD 125 million

Posted by on 04/10/2015
Filed under Business

NBK to issue KD, Basel three-compliant bonds worth KD 125 million

NBK to issue KD, Basel three-compliant bonds worth KD 125 million

KUWAIT: The Nationl Bank of Kuwait S.A.K.P (NBK), the largest bank in Kuwait (rated Aa3 by Moody’s, A+ by S&P and AA- by Fitch), is considering issuing Kuwaiti Dinars up to 125 million Tier 2 subordinated bonds. The issuance would be used to boost NBK’s capital as per Basel III requirements and the directives of […]

Over 250 projects from more than 15 countries exhibited at KIPS 2015

Posted by on 04/10/2015
Filed under Business

Over 250 projects from more than 15 countries exhibited at KIPS 2015

Over 250 projects from more than 15 countries exhibited at KIPS 2015

KUWAIT: The events of Kuwait International Property Show KIPS 2015-a unique and unanimous real-estate fair in Kuwait, organised by Top Expo Group in the Kuwait International Fair Ground, Mishref, is to be launched today under the patronage of Sheikh Nemer Fahad Al-Malik Al-Sabah, the undersecretary assistant for World Organisations, Affairs and Foreign Trade of Ministry […]

Kuwait eyes private investment in $36bn projects

Posted by on 01/10/2015
Filed under Business

Kuwait eyes private investment in $36bn projects

Kuwait eyes private investment in $36bn projects

KUWAIT: Kuwait will invite private investors, including foreigners, to take part over the next two years in nine infrastructure projects worth about $36 billion, under a new law designed to facilitate such deals, an official said. The country has huge construction plans, ranging from power stations and sewage and waste treatment facilities to railway and […]

Gulf banks’ profits set to slide over low oil: S&P

Gulf banks’ profits set to slide over low oil: S&P

Posted by on 01/10/2015
Filed under Business

Gulf banks’ profits set to slide over low oil: S&P

DUBAI: Net earnings of Gulf banks are expected to slide as government spending slows due to a dive in oil revenues, the Standard and Poor’s ratings agency said yesterday. Growth in net income declined to 4.0 percent in the second quarter, compared with 7.0 percent in the first three months of the year and more […]

As oil slips, Saudi faces change – $656bn in currency reserves will help kingdom avoid shift in lifestyles, policies

Posted by on 01/10/2015
Filed under Business, Middle East, Top Stories, World

Al Sayer group holds Outstanding Customer Service Award ceremony

Posted by on 30/09/2015
Filed under Business

Al Sayer group holds Outstanding Customer Service Award ceremony

Al Sayer group holds Outstanding Customer Service Award ceremony

KUWAIT: Al Sayer Group Holding held Outstanding Customer Service Awards Ceremony as part of the long-term commitment towards best in the business customer care. Al Sayer Group Board of Directors Faisal Bader Al Sayer Vice Chairman and Mubarak Naser Al Sayer CEO, Paul Reynolds COO, Business Directors, Group Managers and supervisory grade employees attended the […]

Old banknotes void by Oct 1

Posted by on 30/09/2015
Filed under Business, Kuwait, Other News

Old banknotes void by Oct 1

Old banknotes void by Oct 1

KUWAIT: The Central Bank of Kuwait will withdraw all old Kuwaiti banknotes from trading by Oct 1. The fifth-edition currency notes will no longer be legal tender as of close of business on Oct 1. Holders of the old notes must exchange them for the new editions at local banks ahead of the abovementioned date, […]

Kuwait’s inflation rate up by 3.8 pct in August: CSB

Kuwait’s inflation rate up by 3.8 pct in August: CSB

Posted by on 29/09/2015
Filed under Business, Kuwait, Other News

Kuwait’s inflation rate up by 3.8 pct in August: CSB

KUWAIT: Kuwait’s consumer price index (CPI) or inflation rate went up by 3.8 percent last August compared with the same month last year, the Central Statistical Bureau (CSB) said yesterday. The inflation rate rose by 0.29 percent in August month-on-month, the CSB added in its monthly report. The general index of consumer prices last April […]

Taxes gradually applied in 2016: Finance ministry

Taxes gradually applied in 2016: Finance ministry

Posted by on 29/09/2015
Filed under Business, Kuwait, Other News

Taxes gradually applied in 2016: Finance ministry

KUWAIT: The Finance Ministry recently informed the Ministry of Commerce and Industry that, in collaboration with World Bank, the taxes sector is still preparing a number of decisions aimed at developing tax collection in Kuwait, which are scheduled to gradually be applied next year. The finance ministry added that the decisions would include setting a […]

‘Bitcoin’ gaining popularity in Kuwait?

Posted by on 29/09/2015
Filed under Business

‘Bitcoin’ gaining popularity in Kuwait?

‘Bitcoin’ gaining popularity in Kuwait?

KUWAIT: Have you heard about the bitcoin? It is not money or currency; it is not even a precious metal, and no country in the world recognizes it. In reality though, bitcoins are being ‘used’ like a ‘digital currency’ worldwide. Of course, Kuwait cannot be far behind, as there are some groups and individuals in […]

Four countries in Arab world rank within top 10 Muslim shopping destinations globally – MasterCard-CrescentRating MTSI 2015 report

Posted by on 29/09/2015
Filed under Business

Four countries in Arab world rank within top 10 Muslim shopping destinations globally – MasterCard-CrescentRating MTSI 2015 report

Four countries in Arab world rank within top 10 Muslim shopping destinations globally – MasterCard-CrescentRating MTSI 2015 report

KUWAIT: Four cities from across the Arab world are among the top 10 destinations to travel to globally for Muslims for shopping purposes, according to a new report released today by MasterCard and CrescentRating just ahead of the upcoming Global Islamic Summit to be held in Dubai. The Muslim Travel Shopping Index 2015 (MTSI 2015) […]

Bahrah Trading Co, Hino launch super-long chassis from new generation of Hino300 Series

Posted by on 29/09/2015
Filed under Business

Bahrah Trading Co, Hino launch super-long chassis from new generation of Hino300 Series

Bahrah Trading Co, Hino launch super-long chassis from new generation of Hino300 Series

KUWAIT: After successful re-launch of HINO brand in Kuwait, Bahrah Trading Co (BTC), exclusive distributors of HINO trucks in the Kuwait, launched the superlong chassis from the new generation of HINO300 Series light-duty truck. It was displayed recently at the Big5 exhibition from 13-15 Sept 2015 at Mishref Fair Grounds. Mubarak Naser Al-Sayer, CEO Al-Sayer […]