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KFH & EY Sign strategic partnership agreement

Posted by on 08/08/2018
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KFH & EY Sign strategic partnership agreement

KFH & EY Sign strategic partnership agreement

KUWAIT: Kuwait Finance House (KFH) has signed a partnership agreement with Ernst & Young (EY) to launch an ambitious Robotic Process Automation (RPA) program. In line with the bank’s commitment to offer pioneering added-value services to its customers whilst staying abreast of advances in banking technology, KFH maintains its stronghold in the Kuwaiti banking space, […]

After high-profile exits, fewer non-white CEOs remain in US

Posted by on 08/08/2018
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After high-profile exits, fewer non-white CEOs remain in US

After high-profile exits, fewer non-white CEOs remain in US

Indra Nooyi’s departure from PepsiCo sets a trend NEW YORK: Following other recent exits by non-white CEOs, Indra Nooyi’s departure from PepsiCo announced this week renders America’s collective corner office even whiter. The Indian-born Nooyi cut an especially rare figure in corporate America as an immigrant woman of color. She will be replaced in October […]

No-deal Brexit? What it might mean for UK

Posted by on 07/08/2018
Filed under Business, Top Stories

No-deal Brexit? What it might mean for UK

No-deal Brexit? What it might mean for UK

BoE chief Carney says possibility of a no-deal ‘uncomfortably high’ LONDON/GENEVA: The prospect of a “no-deal Brexit” appears to have grown after the European Union’s negotiator rejected last month central elements of Prime Minister Theresa May’s proposals for a new trade agreement. Bank of England Governor Mark Carney said on Friday the possibility of Britain […]

Chinese daily mocks Trump’s claim of trade war as ‘wishful thinking’

Posted by on 07/08/2018
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Chinese daily mocks Trump’s claim of trade war as ‘wishful thinking’

Chinese daily mocks Trump’s claim of trade war as ‘wishful thinking’

SHANGHAI: Chinese state media kept up their criticism of US President Donald Trump’s trade policies, with a newspaper yesterday describing as “wishful thinking” Trump’s belief that a fall in Chinese stocks was a sign of his winning the trade war. As the world’s two biggest economies remained locked in a heated tariff dispute, Beijing and […]

India doubles import tax on textile products, may hit China

Posted by on 07/08/2018
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India doubles import tax on textile products, may hit China

India doubles import tax on textile products, may hit China

NEW DELHI/MUMBAI: India doubled the import tax on more than 300 textile products to 20 percent yesterday as the world’s biggest producer of cotton tries to curb rising imports from China. It was the second tax hike on textiles in as many months after an increase on other products including fiber and apparels last month. […]

Agility reports 19% Q2 earnings rise

Posted by on 06/08/2018
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Agility reports 19% Q2 earnings rise

Agility reports 19% Q2 earnings rise

  KUWAIT: Agility, a leading global logistics provider, yesterday reported second-quarter earnings of 13.8fils per share on net profit of KD 20 million, an increase of 18.7 percent over the same period in 2017. EBITDA grew 13.6 percent to KD 37.1million. Revenue increased 12.3 percent to KD 384.2million. First-half earnings of 26.9fils per share and […]

KAMCO posts net profit of KD 421,407 for first half of 2018, an increase of 12%

Posted by on 06/08/2018
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KAMCO posts net profit of KD 421,407 for first half of 2018, an increase of 12%

KAMCO posts net profit of KD 421,407 for first half of 2018, an increase of 12%

Revenues rose by 2% to KD 4.8 million in H1 KUWAIT: KAMCO Investment Company announces its financial results for the period ended on June 30th, 2018. The company recorded a net profit of KD 421,407 for the first half of 2018, an increase of 12 percent in comparison to KD 375,364 during the same period […]

Gulf Insurance Group announces KD 6.6m net profit for H1 2018

Posted by on 06/08/2018
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Gulf Insurance Group announces KD 6.6m net profit for H1 2018

Gulf Insurance Group announces KD 6.6m net profit for H1 2018

KUWAIT: Gulf Insurance Group (gig) announced a net profit of KD 6.6 million ($21.7 million), or 36.78fils per share, for the first half of 2018 compared with net profit of KD 5.4 million ($17.7 million) for the same period last year, an increase of KD 1.2 million ($4 million) or 22.7 percent. This increase is […]

China says won’t accept US ‘blackmail’

Posted by on 05/08/2018
Filed under Asia, Business, Top Stories, World

China says won’t accept US ‘blackmail’

China says won’t accept US ‘blackmail’

Trump says trade tariffs ‘working far better’ than anticipated BEIJING/SINGAPORE: China’s state media said the government’s retaliatory tariffs on $60 billion of US goods showed rational restraint and they accused the United States of blackmail. Late on Friday, China’s finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the United States, […]

NBK-Egypt achieves EGP 988.8m in net profits for first half 2018

Posted by on 05/08/2018
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NBK-Egypt achieves EGP 988.8m in net profits for first half 2018

NBK-Egypt achieves EGP 988.8m in net profits for first half 2018

Total assets grew by 10.37% to EGP 65.12 billion KUWAIT: NBK-Egypt – a member of NBK Group – reported EGP 988.8 billion (Equivalent to KD 16.9 million) in net profits for 1H 2018 up 36.07 percent compared to EGP 726.7 million for 1H2017. Total assets reached EGP 65.12 billion as of the end of June […]

ASEAN sees ‘real threat’ from trade war

Posted by on 04/08/2018
Filed under Business, Top Stories

ASEAN sees ‘real threat’ from trade war

ASEAN sees ‘real threat’ from trade war

Ministers call for talks to speed up Beijing-backed free-trade deal SINGAPORE: Asian countries have voiced concern about the potentially devastating impact of a US-China trade war, with ministers calling for the acceleration of talks for a gigantic Beijing-backed free-trade deal that excludes the United States. Fear that a simmering trade spat between the world’s top […]

AUB wins ‘Most Innovative Strategic Domestic Treasury in Kuwait 2018’ award

Posted by on 04/08/2018
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AUB wins ‘Most Innovative Strategic Domestic Treasury in Kuwait 2018’ award

AUB wins ‘Most Innovative Strategic Domestic Treasury in Kuwait 2018’ award

KUWAIT: Ahli United Bank (AUB) announced yesterday that it has won the coveted ‘Most Innovative Strategic Domestic Treasury in Kuwait 2018′ award from International Finance Magazine (IFM), one of the region’s top tier publications focusing on financial services across the Middle East. The award reflects the Bank’s overall vision in adopting the most innovative practices […]