Business

Remittance payments hit record in 2017: World Bank

India topped with $69 billion, China $64 billion and Philippines $33 billion WASHINGTON, April 23, (AFP): Payments from immigrants back to their home countries rebounded to reach a new record in 2017 but the costs of transferring funds also increased, the World Bank said Monday. The stronger-than-expected recovery in remittances …

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Kuwait bourse edges lower; volume jumps

KUWAIT CITY, April 23: Kuwait stocks edged lower on Monday as it extended its losing streak to fifth consecutive session. The All Shares Index fell 3.84 pts in volatile trade to 4,785.09 points even as the trading floor mood remained broadly mixed. The Premier Market took in 2.87 pts to …

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Icelandic fugitive in bitcoin heist arrested in Amsterdam

THE HAGUE, Netherlands (AP) — Amsterdam police have arrested an Icelandic fugitive suspected of masterminding the theft of hundreds of computers used to mine bitcoin and other virtual currencies. Police spokesman Rob van der Veen confirmed Monday that Sindri Thor Stefansson was arrested Sunday night in downtown Amsterdam. He declined …

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Expedited system to help trigger business ‘boom’ in the country

Al-Hajraf meets Kuwaitis working at the World Bank KUWAIT CITY, April 22, (Agencies): Kuwait has introduced a spate of measures to ensure a fair and conducive business environment that allows transactions to be completed in a timely manner, a pair of policymakers said on Sunday. The expedited system has resulted …

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KIB reports KD 7.7mn net profit for Q1

Total operating income grows 9% to KD 17.3mn KUWAIT CITY, April 22: Kuwait International Bank (KIB) reported a net profit attributable to shareholders of KD 7.7 million at the end of the first quarter of 2018. Net profit increased by 1.5 percent, or KD 0.1 million, as compared to the …

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Global shareholders approve 5% cash dividend for 2017

2017 was a continuation of four profitable and successful years KUWAIT CITY, April 22: Global Investment House (“Global” or the “Company”), a regional asset management and investment banking firm headquartered in Kuwait, with offices in major capital markets in the MENA region, held today its Annual General Meeting. The shareholders …

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Kuwait equities drop in lacklustre session – Ooredoo tumbles 40 fils; KIPCO flat

KUWAIT CITY, April 22: Kuwait stocks slipped into red on Sunday extending its losses to fourth straight session. The All Shares Index fell 8.55 points in lackluster trade to 4788.93 pts weighed by Ooredoo even as the broader market remained mixed. The Premier Market rose 3.21 pts to 4,776.40 pts …

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Kuwait reiterates OPEC output cut conformity

Market has capacity to absorb higher oil prices: Saudi minister JEDDAH, April 21, (Agencies): The State of Kuwait has been committed to cutting oil production so as to restore balance at global markets, Kuwaiti Minister of Oil, Electricity and Water Bakheet Al- Rashidi said on Friday. The minister made the …

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‘Bank for Life’: KIB embarks on new chapter of its journey

New strategy focuses on offering next-level customer experience that delivers much more than just ‘banking’ KUWAIT CITY, April 15: KIB is no stranger to transformation. In fact, KIB has always recognized that change is not only inevitable, but a vital necessity. In today’s rapidly-evolving world, change is a must to …

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‘Mission accomplished’ for OPEC – Oil prices moving towards a level of $70/barrel and above

Finally, the oil organiation is to announce shortly that its mission to balance the high oil inventory in the tanks to its five-year average will be reached soon. The present balance is an excess of 35 million barrels which OPEC, with the participation of Russia, can bring to order with …

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