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Business

NBK awarded ‘Best Private Bank for 2016 in Kuwait’ – Award reflects the constant confidence customers vest in NBK: Khalife

KUWAIT CITY, Feb 28: National Bank of Kuwait (NBK) has been awarded the “Best Private Bank for 2016” in Kuwait in Euromoney’s Annual Survey surpassing global banks in wealth management and private banking services. NBK topped the list of nominees, outmatching renowned international banks in the field of Private Banking …

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Zain acquires strategic stake in FOO – Partnership to enhance delivery of innovative services to customers

BARCELONA/ KUWAIT CITY, Feb 28: Zain Group, a leading telecom innovator in eight markets across the Middle East and Africa, announces a strategic investment in FOO, a successful Lebanon-based entity offering a full spectrum of innovative end-to-end mobililty related services including digital strategic consultancy, user interface and experience (UI-UX) design, …

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KSE ‘swings’ 37.99 pts higher; volume ticks up – Americana rallies 80 fils; KFH slips

KUWAIT CITY, Feb 28: Kuwait stocks headed north on Sunday after eking modest gains during previous week. The price index climbed 37.99 points to 5,212.68 pts helped by moderate buying in select counters. The heavy weights were largely subdued even as investors look for fresh catalysts. The KSX 15 gauge …

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Prices to face more downside pressure

The price of Brent crude fell to the lowest monthly average in a decade in January, at $30.8 per barrel. Brent price averaged $52 last year and $99 in 2014. Oil supply outpaced demand in the last two years, but the market is expecting a tighter market in 2016. The …

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World needs to look beyond ultra-easy policy for growth

SHANGHAI, Feb 27, (RTRS): The world’s top economies declared on Saturday that they need to look beyond ultra-low interest rates and printing money to shake the global economy out of its torpor, while renewing their focus on structural reform to spark activity. A communique from the Group of 20 (G20) …

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Adoption of clean energy, a must for brighter future

IN recent years, supporters of clean energy have taken heart in the falling prices of Biofuels, solar and wind power, hoping that will drive an energy revolution. Technologydriven ambitions and the increasing awareness of the environmental issues around the globe have encouraged governments to adopt some of the cleaner energy …

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China tries to reassure over slowing growth

SHANGHAI, Feb 27, (AFP): China’s normally reclusive central bank chief Zhou Xiaochuan is an unusually prominent presence at the G20 finance ministers meeting in Shanghai, racing from seminar to news conference to spread positive messages about the world’s secondlargest economy. After months of silence, the governor of the People’s Bank …

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India’s government gears up for ‘make or break’ budget: analysts

NEW DELHI, Feb 27, (Agencies): India’s government is expected to deliver on promises to overhaul the tax regime and ramp up public spending in its budget Monday, as Prime Minister Narendra Modi bids to shore up his sagging reputation as a reformer. The business-friendly premier came to power almost two …

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KSE rises despite low volume: KFH report – Market cap up by 1.9 pct to KD 25.54 billion

KUWAIT CITY, Feb 26, (KUNA): The three main indexes of Kuwait Stock Exchange (KSE) have closed at end of current week with an increase on weekly basis, while weekly trading volumes saw a decrease despite indexes rise, Kuwait Finance House (KFH) said Thursday. The KSE indices were positive despite oil …

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US dollar liquidity tightens in Gulf – Impact of S&P downgrades

DUBAI, Feb 26, (RTRS): US dollars are becoming more difficult and expensive to obtain in Gulf money markets since Standard & Poor’s sharply downgraded the sovereign credit ratings of three of the region’s oil exporters last week, bankers say. The tightening of dollar liquidity, despite most countries’ currency pegs to …

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