Sunday , October 21 2018


Local banks capable of subscribing in KD 3-5 bn govt bonds: Al-Marzouq – Govt won’t withdraw from deposits to bridge budget deficit: KFH Chairman

KUWAIT CITY, March 10: Chairman, Kuwait Finance House (KFH), Hamad Abdulmohsen Al-Marzouq stated that over 3 years, local banks are able to subscribe in KD 3 to 5 bln in government bonds that are likely meant to bridge the budget deficit. “Downgrading the credit rating for any country takes a …

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Ooredoo Kuwait sponsors Professor Yunus seminar – Bid to develop capabilities of young Kuwaitis

KUWAIT CITY, March 10: Ooredoo Kuwait, a member of the international Ooredoo Group, sponsored Professor Muhammad Yunus’s seminar, entitled ‘Redesigning Economics to Redesign the World’. 2006 Nobel Laureate Professor Muhammad Yunus is a former economics professor at the University of Chittagong, one of Bangladesh’s main universities and founder of Bangladesh-based …

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Kuwait index climbs 6 pts in flattish trade – NBK gains 10 fils; NIG stagnates

Kuwait City, March 10: Kuwait stocks pulled higher on Thursday to end the week on a positive note. The bourse rose 6 points in flattish trading to 5284.87 points even as the board remained broadly mixed. The KSX 15 gauge rose 3.41 points to 871.7 pts taking the month’s gains …

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Gulf Bank holds AGM, OKs 4 fils cash dividend – Bank well placed to continue to develop and innovate: Chairman

KUWAIT CITY, March 9: Gulf Bank today held its Annual General Meeting (AGM) at the Movenpick Hotel, Kuwait, where shareholders approved the company’s audited financial results for the year ended 31 December 2015 and endorsed the recommendation of Gulf Bank’s Board of Directors for a cash dividend of 4 fils …

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KSE retreats 5.81 pts amid sluggish trading – KFH gains 10 fils; KIPCO slips

KUWAIT CITY, March 9: Kuwait stocks sagged on Wednesday after see-sawing in the recent sessions. The price index slipped 5.81 points in lackluster trade to 5,278.87 pts Some of the banking shares and mid-caps eked modest gains even as the slight pullback in oil prices dented the investor sentiment. The …

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KIPCO completes $500 mln bond issue despite challenges – 2.5 fold oversubscription reflects global financial community’s confidence in company: Vice Chairman

KUWAIT CITY, March 9: KIPCO – the Kuwait Projects Company – has announced that it has successfully completed the issue of a US$ 500 million (KD 151.8 million) bond under its US$ 3 billion Euro Medium Term Note (EMTN) Program. The issue was 2.5 times oversubscribed. The seven year fixed …

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Saudi Arabia seeks $6-8 bln bank loan – Govt seeks to shore up state coffers

DUBAI, March 9, (RTRS): Saudi Arabia is seeking a bank loan of between $6 billion and $8 billion, sources familiar with the matter told Reuters, in what would be the first significant foreign borrowing by the kingdom’s government for over a decade. Riyadh has asked lenders to submit proposals to …

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KU wins CFA Institute Research Challenge – Winning team to represent Kuwait at EMEA regional

KUWAIT CITY, March 8: Kuwait University became the 2015-16 CFA Institute Research Challenge winner in the Kuwait, beating other universities in a close competition hosted by CFA Society Kuwait, the local society of CFA Institute. Each competing team analysed the financial performance of Mezzan Holding to produce a comprehensive equity …

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Is Saudi peg on the verge of breaking? – Falling oil prices and strengthening dollar bite

In January this year, the Saudi Arabian Monetary Authority (SAMA) issued a statement saying that the 1986 mandate which pegged the country’s riyal to the dollar was not under threat. Roughly a week later, SAMA restricted banks operating within its territory from selling forward contracts that are betting against the …

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Kuwait to let private sector manage airport, ports – Govt under pressure to cut costs and improve efficiency of economy

DUBAI, March 8, (RTRS): Kuwait’s government plans legislation that will let the private sector manage commercial ports and the country’s international airport, with the government retaining its ownership of the assets, a senior government official told Reuters on Tuesday. Like other Gulf states, Kuwait is under heavy pressure to cut …

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