Friday , October 20 2017

Business

Kuwait banking system outlook stable: Moody’s

LIMASSOL, March 15: Moody’s Investors Service has maintained its stable outlook for Kuwait’s banking system, refl ecting the rating agency’s view that government- funded projects will drive economic growth, and subsequently business for banks. This will soften the impact of declining consumer spending, as subsidy cuts take hold. The outlook …

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Bonds reflect strong credit standing – Kuwait lauds successful pricing

LONDON, March 15, (KUNA): Kuwaiti Deputy Prime Minister and Minister of Finance Anas Al-Saleh said Tuesday that Kuwait’s recent successful bond issuance refl ected the country’s strong credit standing. The State of Kuwait had successfully issued its inaugural dual-tranche $8 billion bond offering into the international debt markets. “We are …

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Kuwait bond competitive with ‘Gold’

DUBAI, March 14, (RTRS): Kuwait’s $8 billion debut international bond issue traded close to Abu Dhabi bonds in the secondary market on Tuesday, suggesting the Gulf’s gold standard for sovereign debt now has competition for investors’ attention. On Monday, Kuwait’s government sold $3.5 billion of five-year bonds and $4.5 billion …

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UAE airlines likely to see falling profits – Low cost long haul model could enter Middle East

ABU DHABI, March 14, (RTRS): The profitability of airlines based in the United Arab Emirates, the Middle East’s main aviation hub, is likely to fall this year amid limited growth in demand, the head of IATA said on Tuesday. The UAE is home to Emirates, which flies more passengers long …

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Gulf Bank announces participation in Kuwait University Career Fair

KUWAIT CITY, March 14: Gulf Bank is participating in Kuwait University Career Fair which started on Tuesday, March 14, 2017 at College of Business Administration and will run until Thursday March 16, 2017. Gulf Bank’s participation and support of Kuwait University Career Fair comes in line with its commitment to …

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KUWAIT MARKETS ITSELF AS NEW GULF ‘GOLD’ – Bond offerings attract nearly $29bn; Kuwait rated AA/AA

LONDON, March 13, (RTRS): Kuwait is set to raise $8bn through a dual tranche offering of five and 10-year notes, according to a lead. The sovereign has launched a $3.5bn March 2022 bond at 75bp over Treasuries, and a $4.5bn March 2027 note at plus 100bp. The final spreads compare …

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Kuwait says willing to extend global oil cut deal beyond June – Al-Marzouq says market needs more time to rebalance

DOHA, March 13, (RTRS): Kuwait will support the extension of a global deal to cut oil supply beyond June, the country’s oil minister said on Monday as the market needs more time to rebalance. “Kuwait supports the extension of the deal beyond June … as it will speed up rebalancing …

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Gulfsat and Bahrain ministry renew cooperation deal – Kuwaiti firm key player in media broadcast services

KUWAIT CITY, March 13: Gulfsat Communications Co (Gulfsat), a leading provider of satellite communication services, TV broadcast and Contribution, announced the renewal of the cooperation agreement with the Ministry of Information Affairs in the Kingdom of Bahrain, confirming the already continued collaboration between both sides started in 2012. Under this …

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Zain holds OGM, approves 35 fils cash dividend – New BoD appoints Mohannad Al-Kharafi as Chairman and Bader Al-Kharafi as Vice-Chairman and CEO of Group

KUWAIT CITY, March 12: Zain Group, a leading mobile telecom innovator in eight markets across the Middle East and Africa announces holding its annual Ordinary General Assembly at the company’s headquarters in Shuwaikh, Kuwait today, and after satisfying the legal quorum requirements with 66.79%, approved the distribution of a cash …

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Zain towers sale near

KUWAIT CITY, March 12, (RTRS): Kuwaiti telecommunications group Zain has reached the final stages of selling its mobile transmitter towers in the country, the company’s vice chairman Bader Nasser Al-Kharafi said on Sunday. The company is awaiting approval from the telecommunications regulator, Al-Kharafi said at a shareholder meeting. He did …

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