Business

Philippine banks on alert after cyber attack at Malaysia central bank

MANILA, March 31 (Reuters) – The Philippine central bank has sounded an alert to local financial institutions following a cyber attack at the Malaysian central bank, in which hackers sought to steal money using fraudulent wire transfers, its governor said on Saturday. Bank Negara Malaysia (BNM) has said no funds …

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KFAED signs KD 23 million loan agreements with Dhaka, Djibouti – Deals to finance development projects

KUWAIT CITY, March 28, (KUNA): Kuwait Fund for Arab Economic Development (KFAED) signed two loan agreements with Bangladesh and Djibouti, totaling KD 23 million (about $78 million), for financing development projects in the two countries. The project in Bangladesh estimated at KD 15 million (about $51 million) aims to contribute …

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H’wood hopes to cash in as Saudi Arabia lifts ban on theaters – ME exhibitor Cinemacity to enter Saudi Arabia theater-building derby

LOS ANGELES, March 28, (RTRS): Hollywood is falling head over heels for the Kingdom of Saudi Arabia. The Middle Eastern nation is lifting a 35-year old ban on movie theaters, prompting a mad dash by both US and international exhibitors eager to be among the first to build cinemas in …

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Zain holds AGM, OKs cash dividend of 35 fils – Two new members elected to Board of Directors; Al Tahous, Chairman and Al-Kharafi as Vice-Chairman and Group CEO

KUWAIT CITY, March 28: Zain Group, the leading mobile telecom innovator in eight markets across the Middle East and Africa announces the holding of its Annual General Assembly (AGM) at the company’s headquarters in Shuwaikh, Kuwait today. After satisfying the legal quorum requirements with 74.97%, the shareholders approved the distribution …

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KGL Logistics reports KD 5.9 mln net profit – BoD proposes distribution of 5% bonus shares

KUWAIT CITY, March 28: The Board of Directors of KGL Logistics held a meeting to approve the financial statements for the fiscal year that ended on Dec 31, 2017. The meeting reviewed the arrangements for the AGM and its agenda. The Board of Directors approved the 2017 financial statement, where …

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Kuwait’s GDP rose by 8.7% in 2017 at current prices – Contribution of oil sector soars to 47.5% at current prices during fourth quarter

KUWAIT CITY, March 28, (KUNA): Kuwait’s Gross Domestic Product (GDP) at current prices reached KD 36.4 billion (about $120.2 billion) in 2017, an increase of 8.7 percent, Kuwait’s Central Statistical Bureau (CSB) said Wednesday. The GDP at constant prices hit KD 39.76 billion (about $131.2 billion) in 2017, a drop …

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Foreign investors keen on latest Kuwait bourse updates – Market heading in right direction: Al-Khaled

NEW YORK, March 27, (KUNA): Foreign investors are keen on knowing the latest updates in regards to Boursa Kuwait, said an official late Monday. Speaking to KUNA and Kuwait television on the sideline of the HSBC Middle East North Africa (MENA) Investors forum, CEO of Boursa Kuwait Khaled Al-Khaled said …

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CBK and IFSB to organize a high-level global conference on Islamic finance – ‘Confab to highlight role of industry on broader national economic agenda’

KUWAIT CITY, March 27: The Central Bank of Kuwait (CBK) and the Islamic Financial Services Board (IFSB) are pleased to announce that they will be organizing a high-level global conference on Islamic finance. The conference will be held on May 2, 2018 in the State of Kuwait in conjunction with …

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KFH provides 200 mln euros credit facility to Limak – Bank enjoys proven track record of financing mega projects in vital sectors: Al-Nahedh

KUWAIT CITY, March 27: Group Chief Executive Officer at Kuwait Finance House (KFH), Mazin Saad Al-Nahedh emphasized the efficiency of Islamic finance instruments in providing financing solutions that meet customers’ requirements while reflecting the world leadership position of KFH in the Islamic finance industry and the excellence in providing a …

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Al- Fanar Mall in Salmiya sold for KD 75 million

KUWAIT: A huge real estate deal was concluded over the weekend when Al- Fanar Mall in Salmiya was sold for KD 75 million, reports Al-Anba daily. Sources privy to the deal disclosed the sale was done in two parts – first was the 30 percent payment in cash and the …

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