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Seven killed in SW China floods as record downpours pummel country
BEIJING: Seven people were killed in flash floods in southwestern China on Wednesday, as authorities in Beijing tripled the death toll from the capital’s heaviest-ever rains. China has been hit by record downpours in recent weeks, damaging infrastructure and deluging swaths of Beijing’s suburbs and surrounding areas. And in southwestern Sichuan province, flash flooding Wednesday killed seven people on Wednesday, state media reported. The...
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Pakistan to hold election without ex-PM Khan
ISLAMABAD: Pakistan will have a new interim government in days after parliament concluded its last session late Wednesday, with an upcoming election that will not include the country’s most popular politician, Imran Khan. The country has been in political turmoil since the former international cricket star was booted from power in April last year, culminating in his being jailed for graft at the weekend following a months-long crackdown on his...
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KRCS sends urgent medical and food supplies to Sudan
KUWAIT: The Kuwait Red Crescent Society (KRCS) announced on Wednesday that it was coordinating with authorities in Egypt to deliver 190 tons of urgent medical and food supplies to Sudan. KRCS coordinator Khaled Al-Mutairi told KUNA that the Kuwaiti Embassy in Cairo would coordinate with the Egyptian Red Crescent (ERC) to deliver urgent relief aid material to Sudan. He affirmed that relief shipment would be handed to the Sudanese Red Crescent...
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UN says reached deal with Syria over key aid crossing
UNITED NATIONS: The United Nations has said it reached agreement with the Syrian government on aid deliveries to rebel-held areas from Turkey, raising concern among relief groups who had wanted Damascus kept out. Under a 2014 deal, most international aid had passed through the Bab al-Hawa crossing from Turkey without the authorization of Damascus. But last month, the UN Security Council failed to reach consensus on extending the mechanism, and...
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Biden protects lands near Grand Canyon in environment push
GRAND CANYON: Joe Biden used the backdrop of the Grand Canyon Tuesday to champion the climate fight — and distinguish himself from the Republican right — by designating large swathes of surrounding sacred land with protective status. The US president, kicking off a three-day tour of the American southwest, pumped his fist after signing into existence the country’s newest national monument, with Native Americans dressed in traditional...
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NIC’s profitability indicators confirm its solid financial position: Al-Kharafi
KUWAIT: The National Investment Company (NIC) has unveiled its financial results, recording a net profit of KD 3.2 million for the three months ended on 30 June 2023, with a 194 percent increase compared to the first quarter of this year which ended on 31 March 2023. In a statement to the press, NIC Chairman Bader Nasser Al-Kharafi stated that the company had achieved positive financial results for H1 2023, which complements the all-round...
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China slips into deflation
BEIJING: China slipped into deflation for the first time in more than two years in July, official data showed Wednesday, as slowing domestic spending weighs on the post-COVID economic recovery. The reading comes a day after news that the country suffered its biggest fall in exports since the early days of the pandemic, while imports tanked again as domestic and global demand fall away. The Consumer Price Index, the main gauge of inflation, fell...
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Women face barriers despite UK flexible working: Survey
LONDON: Women in the UK are prevented from working in the growing tech and the green sectors because of barriers including low-income backgrounds and not enough flexibility, a survey showed Wednesday. The findings by social enterprise Challenge Works, supported by US bank JPMorgan Chase, come as the government prepares to introduce a law on flexible working which the report argued could be improved upon.“As vacancies in future-focused...
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Moody’s downgrades many US banks as recession risks grow
WASHINGTON: Moody’s cut the credit ratings of a host of small and mid-sized US banks and placed several big Wall Street names on negative review. The firm lowered the ratings of 10 banks by one rung, while major lenders Bank of New York Mellon, US Bancorp, State Street, Trust Financial, Cullen/Frost Bankers and Northern Trust are now under review for a potential downgrade. Moody’s also changed its outlook to negative for 11 banks, including...
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ABK-Egypt achieves EGP 1.7bn net profit in first half of 2023
KUWAIT: Al-Ahli Bank of Kuwait - Egypt (ABK-Egypt) announced achieving breakthrough results for the first half of the year ended 30 June 2023 reflecting very solid growth in profits and business volume over the course of the year. The bank managed to achieve EGP 1.7 billion net profit representing a 91.6 percent growth compared to EGP 887 million over the same period in 2022. Also compared to the same period in 2022, Net Interest Income grew by...
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Uncertainty over Mbappe future hangs over Ligue 1
PARIS: Uncertainty over the future of Kylian Mbappe hangs over French football ahead of the new Ligue 1 season, which starts this weekend. The Paris Saint-Germain superstar has won France's player of the year award four times in a row and been Ligue 1's top scorer in five straight seasons, but his contract dispute with the champions has dominated headlines all summer. Mbappe has refused to sign an extension to his PSG deal, meaning he can leave...
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Colombia 'dream big', plot England downfall at WCup
MELBOURNE: Colombia captain Catalina Usme is "dreaming big" and coach Nelson Abadia wants to "make history" as the last team standing from the Americas plots the downfall of England in the Women's World Cup quarter-finals. The 25th-ranked South Americans have never made the last eight before but they are brimming with confidence after grinding down Jamaica 1-0 on Tuesday thanks to a goal from their skipper. They will now play England in Sydney on...
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KUWAIT: Minister of Public Works Noura Al-Mashaan and a Chinese delegation visit the site of the Mubarak Al-Kabeer Port project on Boubyan Island on Aug 31, 2024. – KUNA
Minister, Chinese delegation visit Mubarak Port
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Guests and dignitaries gather at Marina Hotel to celebrate the 102nd anniversary of Turkey's Victory Day.
Kuwait-Turkey defense partnership bolsters regional peace and security
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Kuwait Times Summer Program students pose for a group photo with Kuwait Times/Kuwait News and Gulf Bank teams. - Photos by Yasser Al-Zayyat
Gulf Bank and Kuwait Times successfully conclude 3rd edition of Summer Program
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US ambassador Karen Sasahara
US media roundtable: Spotlight on US-Kuwait military, economic ties
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TRIPOLI: Libya's Central Bank headquarters in Tripoli. -- AFP
Libya central bank head flees country over ‘threats’