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Inflation in Kuwait rose 0.89 percent in August

Posted by on 20/09/2018
Filed under Business, Kuwait, Other News

Inflation in Kuwait rose 0.89 percent in August

Inflation in Kuwait rose 0.89 percent in August

KUWAIT: Basic consumer prices index rose by 0.89 percent in August compared to the same month last year, the monthly report of the Central Statistical Bureau showed. The Consumer Price Index (CPI) increased monthly to 113.2 by 0.09 percent, as compared to July, as a result of high prices of major groups in the movement […]

Trump tells OPEC to lower oil prices

Posted by on 20/09/2018
Filed under Business, Top Stories

Trump tells OPEC to lower oil prices

Trump tells OPEC to lower oil prices

Stop buying oil from Iran or face sanctions, importers warned WASHINGTON: President Donald Trump yesterday issued a fresh call on the OPEC oil cartel to lower crude prices, saying the United States was providing Middle Eastern energy giants with security. “We protect the countries of the Middle East, they would not be safe for very […]

Kuwait-backed Aston Martin targets £5.1bn IPO

Posted by on 20/09/2018
Filed under Business

Kuwait-backed Aston Martin targets £5.1bn IPO

Kuwait-backed Aston Martin targets £5.1bn IPO

LONDON: Aston Martin, the luxury British sports car brand favored by fictional spy James Bond 007, said yesterday that its upcoming stock market flotation would look to value the group at up to £5.1 billion ($6.7 billion, 5.7 billion euros). The glitzy carmaker’s latest starring role will be on the London Stock Exchange in October, […]

Burgan Bank Group opens rights offering to raise up to KD 62.55m

Posted by on 19/09/2018
Filed under Business

Burgan Bank Group opens rights offering to raise up to KD 62.55m

Burgan Bank Group opens rights offering to raise up to KD 62.55m

Bank to issue up to 240.58 million shares at KD 0.260 per share KUWAIT: Burgan Bank, Kuwait’s second largest conventional bank by assets, announced yesterday that it commenced its Capital Rights Offering process to raise up to KD 62.55 million of additional capital. The subscription period will end on the 10th of October 2018. The […]

Zain bags ‘Best Brand’ at Telecom World Middle East Awards 2018

Posted by on 18/09/2018
Filed under Business, Top Stories

Zain bags ‘Best Brand’ at Telecom World Middle East Awards 2018

Zain bags ‘Best Brand’ at Telecom World Middle East Awards 2018

Zain aspires to be a brand that unlocks opportunities for customers DUBAI: Zain Group, the leading mobile telecom innovator in eight markets across the Middle East and Africa, is proud to announce it has been awarded the ‘Best Brand for Telecom’ accolade for 2018 at the prestigious Telecoms World Middle East Awards gala event held […]

Kuwait consumer spending slows, weighed by holidays

Posted by on 18/09/2018
Filed under Business

Kuwait consumer spending slows, weighed by holidays

Kuwait consumer spending slows, weighed by holidays

Spending for services drops to 7.8% y-o-y from 10.4% in July KUWAIT: Growth in NBK’s consumer spending index slowed to 3.5 percent y/y in August from 6.5 percent in July, affected by travel and holidays. The index dropped 2.5 percent on the month, coinciding with Hajj (Islamic pilgrimage) and a 10-day Eid holiday. According to […]

Burgan Turkey’s hedging strategy protects it against currency volatility

Posted by on 18/09/2018
Filed under Business

Burgan Turkey’s hedging strategy protects it against currency volatility

Burgan Turkey’s hedging strategy protects it against currency volatility

Al-Ajeel: Our business model is solid and well prepared to handle volatility if it persists KUWAIT: Burgan Bank Group (the Group) announced yesterday that its Turkish subsidiary, Burgan Bank A.S. – Turkey (The Bank), remains vigilant with regards to the volatility in Turkey and is, at present, not witnessing any material impact on its profitability. […]

Higher security €100 and €200 notes unveiled

Posted by on 17/09/2018
Filed under Business, Europe, Top Stories, World

Higher security €100 and €200 notes unveiled

Higher security €100 and €200 notes unveiled

FRANKFURT: The European Central Bank yesterday unveiled new versions of the 100- and 200-euro banknotes, saying new security features would make them harder to counterfeit. Like other second-generation notes in the “Europa” series introduced since 2013, the new paper money includes different holograms in a silver strip and an “emerald number” showing the denomination – […]

Saudi sovereign fund secures $11bn loan, invests $1bn in Tesla competitor

Posted by on 17/09/2018
Filed under Business

Saudi sovereign fund secures $11bn loan, invests $1bn in Tesla competitor

Saudi sovereign fund secures $11bn loan, invests $1bn in Tesla competitor

RIYADH: Saudi Arabia’s sovereign wealth fund said yesterday it has secured its first ever international loan, boosting the kingdom’s diversification drive after its flotation of state oil giant Aramco stalled. The Public Investment Fund said in a statement that it had obtained an $11 billion loan as “the first step in its strategic, medium-term debt […]

KAMCO celebrates 20 years of leadership

Posted by on 17/09/2018
Filed under Business

KAMCO celebrates 20 years of leadership

KAMCO celebrates 20 years of leadership

Preferred asset management and investment banking provider in the region KAMCO Investment Company, a leading investment company with one of the largest assets under management (“AUM”) in the region, officially celebrates its 20th year anniversary during the month of September. Over the past two decades, KAMCO has been dedicated towards enhancing and building upon its […]

Euromoney 10th Kuwait Conference to discuss ‘New Kuwait’ updates

Posted by on 17/09/2018
Filed under Business

Euromoney 10th Kuwait Conference to discuss ‘New Kuwait’ updates

Euromoney 10th Kuwait Conference to discuss ‘New Kuwait’ updates

Forum to showcase financial sector response to National Development Plan KUWAIT: Euromoney will celebrate its 10th annual Euromoney Kuwait Conference on 25 September. The conference will take place at the Four Seasons Hotel Kuwait, a new venue to mark this special anniversary year. The agenda has been designed to give an update on New Kuwait […]

AUB wins ‘Best Corporate Digital Bank of Distinction’

Posted by on 16/09/2018
Filed under Business

AUB wins ‘Best Corporate Digital Bank of Distinction’

AUB wins ‘Best Corporate Digital Bank of Distinction’

KUWAIT: Ahli United Bank (AUB) announced that it has won the prestigious ‘Best Corporate Digital Bank’ award 2018 for the second consecutive year in the Corporate Banking Services sector within the State of Kuwait, along with the ‘Best On-Line Cash Management’ award 2018 across the same sector. These awards are presented by the world-renowned Global […]

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