BANKING

November 19, 2018

KUWAIT: Warba Bank is raising its capital on Nov 25 through an initial public offering (IPO). On this occasion, the bank held a press conference yesterday to explain the goals of the offer and the bank’s expectations from it.
“This will be the first electronic IPO held in Kuwait’s history in cooperation with Kuwait Clearing Company. We have set up a special website for the IPO, where"... Continue Reading

November 18, 2018

PORT MORESBY: The United States will not back down from its trade dispute with China, and might even double its tariffs, unless Beijing bows to US demands, Vice President Mike Pence said yesterday. In a bluntly worded speech at an Asia Pacific Economic Co-operation (APEC) summit in Papua New Guinea, Pence threw down the gauntlet to China on trade and security in the region. “We have taken decisive"... Continue Reading

November 18, 2018

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today announced that it has expanded its operations in the Asia-Pacific region with the launch of its new subsidiary, Rimini Street New Zealand Limited, and the opening of its new office in Auckland to address the growing demand for Rimini Street’s premium, ultra-responsive support services in New Zealand. Rimini Street’s expansion was announced at a gala event held at The Northern Club in Auckland, where clients, local IT leaders and the special guest of honor, Ambassador Scott P. Brown, the U.S. Ambassador to New Zealand, were hosted by Rimini Street’s general manager for Asia-Pacific, Andrew Powell, and Rimini Street corporate senior executives. Growing...... Continue Reading

November 18, 2018

Velodyne Lidar, Inc. announces the promotion of Rick Tewell to Chief Operating Officer. Tewell assumes leadership of the company’s vast manufacturing efforts at its Megafactory in San Jose, California. He joined the company in September 2017 as Senior Vice President of Automated Manufacturing and was promoted to Chief Advanced Manufacturing Officer prior to the promotion to COO. He brings a wealth of expertise to the day-to-day production of Velodyne’s industry-leading lidar sensor product line. According to Marta Hall, Velodyne’s President and Chief Business Development Officer, Velodyne “recruited Rick Tewell to manage Robotics and Advanced Technology, and within a year it was clear he...... Continue Reading

November 16, 2018

In December 2017, MultiBank Group announced the launch of its Asset Management business and the establishment of its European headquarter in Frankfurt, Germany. Since then, the Group’s asset management business has taken off, while the performance of the MultiBank Index linked Note, listed on the Frankfurt Stock Exchange, has reached an all time high at EUR 1,357 today.

As"... Continue Reading

November 15, 2018

• Cyber Advanced Technology, the technology provider for A-Nex, has developed an innovative crypto-trade platform that plans to take the crypto-industry to a new level of security and profitability.

• A-Nex will be powered by the Operational Technology-Operation Centric Networks (OT-OCNTM), a secure, Next GEN internet technology created by CAT.

A-Nex,"... Continue Reading

November 14, 2018

(AETOS Wire) -- Northern Trust’s Global Family & Private Investment Offices (GFO) group has been named Best Private Bank for Family Offices Globally by Professional Wealth Management and The Banker magazines, publications of the Financial Times Group. This marks the second year in a row that Northern Trust GFO has been recognized as Best Private Bank for"... Continue Reading

November 13, 2018

(AETOS Wire)-- Far from being the universal banking giants of Wall Street, London, Frankfurt, Paris, Tokyo or Beijing that typically combine commercial and investment banking activities, the best banks in the world are focused on consumer and business banking. They are also smaller and often younger than the big brands of the banking industry. So says a new study from"... Continue Reading

November 12, 2018

KUWAIT CITY, Nov 11, (KUNA): The Central Bank of Kuwait has addressed the Ministry of Commerce and Industry notifying it of new lending regulations to avert unjustified rise of prices of commodities and services.

CBK Deputy Governor Yousef Al- Obaid said in a statement to KUNA on Sunday that the central bank dedicates special concern"... Continue Reading

November 11, 2018

KUWAIT: Ahli United Bank (AUB) announced yesterday that it has won the coveted Citibank Straight-Through-Processing (STP) award for the sixth consecutive year. The award recognizes AUB’s excellent quality and accuracy in delivering commercial payments and processing transactions, and its continued efforts and keenness to win this high profile award on an annual basis.

AUB’s"... Continue Reading