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Wednesday , November 21 2018


KFH invites AUB due diligence

DUBAI, July 16, (RTRS): Kuwait Finance House (KFH) said on Monday it had invited Bahrain’s Ahli United Bank to begin a due diligence process for a potential merger, Kuwait’s biggest Islamic lender said on Monday. KFH also asked AUB to sign a non-disclosure agreement. If the merger goes ahead, it …

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OPEC only choice; the limit is reached

To bring the oil prices down to an acceptable “White House” level, which is less than $80 per barrel, the USA administration must ensure all oil-producing countries including OPEC member states continue to maintain the current input. This is prov i d e d Venezuela, Libya, Angola and Nigeria are …

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Company set with KD 20 mln capital

KUWAIT CITY, July 15: Kuwait Clearing Company and four other partners have established a closed shareholding company with the name “Kuwait International Settlement and Clearing Company”, reports Al-Rai daily. The authorized capital of the established company is set at KD 20 million distributed over 200 million shares. The company’s capital …

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KFAED signs $170 mln loan deal with Egypt

KUWAIT CITY, July 14: Kuwait Fund for Arab Economic Development (KFAED) on Thursday signed a KD 50 million ($170 million) loan for the Egyptian government, which will contribute to the construction of a sewage water treatment facility for several towns in the northeast. The plans will respond to the growing …

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KIB closing its $250 mln Murabaha

KUWAIT CITY, July 14: KIB held an exclusive ceremony to mark the occasion of the Bank’s successful closing of a $250 million 3-year syndicated Murabaha financing facility. This landmark financing was concluded with a consortium of international and local banks viz; Standard Chartered Bank, First Abu Dhabi Bank, National Bank …

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‘Korean companies can be worthy partners to achieve Kuwait 2035’

KOTRA, Embassy hold Seminar and Business meet with 11 companies KUWAIT CITY, July 12: The Korea Trade Investment Promotion Agency (KOTRA), the commercial section of the Embassy of The Republic of Korea held a Korea Electric Power Technology Seminar and Business meeting with Korea Electric Power Corporation and a delegation …

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Minister signs ‘T2’ contracts – ‘Kuwait airport’

KUWAIT CITY, July 12, (KUNA): Minister of Public Works and Minister of State for Municipal Affairs Hussam Al-Roumi signed a KD-18.585-million (about $ 59.4 million) contract related to the new passenger terminal (T2) at Kuwait International Airport. Al-Roumi said in a statement to KUNA that the first contract includes the …

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Economic reform in Kuwait takes inspiration from HH Amir: Speaker

BEIRUT, July 12, (KUNA): The economic and financial reforms in Kuwait takes inspirations from His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah’s ambitious plan based on cleverly utilizing vital resources and manpower, said Kuwaiti Speaker of the National Assembly Marzouq Al-Ghanim Thursday. Al-Ghanim’s statement was part of his speech …

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Alghanim Industries wins Adam Smith Awards in London

Recognized for its Payment Process Excellence Project KUWAIT CITY, July 11: Alghanim Industries, one of the largest privately owned companies in the region, was recently recognized at the Adam Smith Awards 2018 on June 21. The awarding ceremony, which took place in the prestigious Plaisterers’ Hall in London, included representatives …

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Kuwait Index upgrade soon

KUWAIT CITY, July 11, (KUNA): Boursa Kuwait management met on Wednesday with MSCI representatives during their visit to Kuwait to engage with several key entities. The meeting took place after MSCI’s recent announcement to include the MSCI Kuwait Index in its 2019 Annual Market Classification Review for a potential reclassification …

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