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FINANCE & ECONOMY

Company set with KD 20 mln capital

July 16, 2018

Company set with KD 20 mln capital

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 consists of cash shares paid as follows — paid up capital of KD"... Continue Reading

Proposal submitted for State to buy Kuwaitis debts and Loans

July 16, 2018

Proposal submitted for State to buy Kuwaitis debts and Loans

MP Majid Al-Mutairi submitted a proposal for the State to buy debts and loans of Kuwaitis to be paid through longterm installments. In his proposal, the lawmaker indicated that the Constitution guarantees a prosperous life for every citizen; while official statistics revealed many Kuwaitis are suffering due to their financial situation and some cannot pay their loans and others are blacklisted so several"... Continue Reading

AUB wins prestigious ‘Best Retail Bank in Kuwait’ award in 2018

July 16, 2018

AUB wins prestigious ‘Best Retail Bank in Kuwait’ award in 2018

Ahli United Bank (AUB) announced that it has won the coveted ‘Best Retail Bank in Kuwait’ award in 2018 by Global Banking and Finance Review Magazine. The award reflects the Bank’s overall achievements across the retail banking landscape and its exceptional performance that are in accordance to the judging committee’s criteria. The Bank was recognized for its continued leadership"... Continue Reading

ACIC launches Ahli International Multi Asset Holding Fund

July 16, 2018

ACIC launches Ahli International Multi Asset Holding Fund

In line with its ‘simpler banking’ strategy to offer easy banking to clients, Ahli Capital Investment Company (ACIC), the investment arm of Al-Ahli Bank of Kuwait (ABK), has again partnered with BlackRock Investment Management, who are currently the world’s largest asset manager ($6.3 trillion as of 31 March 2018) providing the underlying building blocks, to launch the Ahli International"... Continue Reading

EQUATE recognized for developing top Middle East treasury solution

July 16, 2018

EQUATE recognized for developing top Middle East treasury solution

Integrated financial systems have earned EQUATE Petrochemicals Company, a global producer of petrochemicals, the award for “Best in Class Treasury Solution in the Middle East” at the Adam Smith Awards 2018 organized by Treasury yesterday.

Through the efforts of EQUATE’s treasury, the world’s second largest"... Continue Reading

2,140 expats’ contracts frozen

July 16, 2018

2,140 expats’ contracts frozen

Deputy Prime Minister and Minister of State for Cabinet Affairs Anas Al-Saleh said according to the Civil Service Commission’s (CSC) database, the total number of government employees with degrees in law is 7,052 citizens and 1,271 non-Kuwaitis. Saleh added 41 citizens with law degrees had been registered with the CSC employment application system as of Dec 31, 2017 and that they had been nominated"... Continue Reading

UAE Exchange Rebrands its Africa Operations as Unimoni

July 16, 2018

UAE Exchange Rebrands its Africa Operations as Unimoni

UAE Exchange, a leading global money transfer, foreign exchange and payment solutions brand, announced the rebranding of its Africa operations as “Unimoni”. The announcement was made by Promoth Manghat, Executive Director of Finablr and Group CEO, at an event held in Nairobi, Kenya, in the presence of dignitaries, partners and other guests.

Short"... Continue Reading

Kuwait awards $61m airport terminal expansion contract

July 15, 2018

Kuwait awards $61m airport terminal expansion contract

Kuwait has awarded a KD18.6 million ($61 million) contract for the development of its new passenger terminal (T2) at Kuwait International Airport, reported Kuna.

Minister of Public Works and Minister of State for Municipal Affairs Hussam Al Roumi signed"... Continue Reading

Falcon Cement's 2017 revenue up 56pc

July 15, 2018

Falcon Cement's 2017 revenue up 56pc

Falcon Cement Company (FCC), a leading integrated cement producer in Bahrain, said despite challenging market conditions and competition, it had achieved solid growth in its sales and market share.

Announcing the results at its AGM held in Bahrain Financial Harbour, FCC stated that its total income for the year rose to $45.6 million,"... Continue Reading

Iraqi protesters close border crossing with Kuwait

July 15, 2018

Iraqi protesters close border crossing with Kuwait

Iraqi protesters in the southern province of Basra shut down a border crossing with Kuwait on Saturday amid rising anger over unemployment and lack of basic services in southern Iraq.

“Hundreds of demonstrators forced the closure of the Safwan border crossing with Kuwait,” Police Captain Ali Kadhim told Anadolu Agency.

"... Continue Reading

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