BANKING

Kuwait stocks pulled lower on Monday to close in red zone for the second straight day as the bourse dipped 27.75 points to 6,767.5 points. Most of the banks and blue chips remained subdued.

The KSX-15 index dropped 17.01 points to 991.64 points. The weighted index lost 5.26 points. The volume turnover meanwhile continued its decline"... Continue Reading

A National Bank of Kuwait report unveiled on Monday that real estate activity remained relatively stable in August, saying that seasonality pulled the monthly sales figure down slightly to KD 154.5 million. The report added that sales across all sectors totaled KD 1.5 billion year-to-date (ytd), down 5.4% from the same period last year.

The"... Continue Reading

September 26, 2017

Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has advised on the successful sale of the German warehouse used as a spare parts storage and the distribution center by Volkswagen AG, Germany (“VW Property”).

September 26, 2017

In exciting news for both financial institutions and their customers, Lebanon-based mobile development leader Eurisko Mobility recently announced the addition of Artificial Intelligence Bots to its Digital Experience Platform (DXP), a cutting-edge solution tailored for banks and financial institutions. Eurisko's fully customizable bots powers all DXP modules"... Continue Reading

Central Bank of Kuwait (CBK) on Sunday said money supply (M2) in July was KD 35.9 billion (about USD 117 billion) down by 1.5 percent as compared to June.
The CBK's economic research department said in a statistical report that the private sector deposits in local banks decreased by 0.2 percent in July 2017 to KD 32 billion (USD 104.6 billion).... Continue Reading

Bahrain Exchange Company W.L.L. (BEC), one of Kuwait’s leading worldwide money transfer and foreign exchange companies, has announced on 18 September the opening of its 43rd retail outlet in Omariya.

Located behind Farwaniya Middle school - Boys, the new branch is BEC’s 5th in Farwaniya Area which is a heavily populated"... Continue Reading

September 24, 2017

Plus One Global, the Tokyo-based maker and seller of the FREETEL brand of budget smartphones, starts it’s sail in Egyptian Market in partnership with Egypt's largest smart phone distributor, MTI Group (www.mti-mmgroup.com), on a new voyage of global expansion that will include landings in 10 countries in the Middle East and Africa.

Plus"... Continue Reading

Kuwait-Turk Bank has donated one million lira (USD 285,000) to the Turkish Red Crescent Society to relieve Muslim Rohingya who have been fleeing violence in their country Myanmar.
The bank general manager, Ufuk Oyan, said in a statement during a ceremony for handing over the donation cheque that the bank management decided to help the Rohingya in response"... Continue Reading

September 22, 2017

(AETOS Wire)-- Triaconta wants to minimize the risks of investing in cryptocurrencies with Combicoin to make the cryptocurrency market accessible for a larger audience.

CombiCoin is 100% asset backed by the top 30 cryptocurrencies with the highest market cap. Because of this the CombiCoin"... Continue Reading

September 21, 2017

• High-tech powered card with dynamic security code (CVV2) that changes automatically every hour, displayed on embedded mini-screen
• A solution with no impact on cardholder journey for safer online transactions: if stolen, this dynamic data becomes rapidly unusable
• CMBC is the first bank to launch MOTION CODETM in Asia, featured on their new high-end VISA Signature card
• A CMBC WeChat application to present the offer and order easily in one... Continue Reading