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CBK raises discount rate by 25 basis points to 4.24%
KUWAIT: The Central Bank of Kuwait (CBK) on Wednesday raised the discount rate by 0.25 percent from 4.0 percent to 4.25 percent effective July 27, 2023. The decision is part of the CBK’s efforts to maintain monetary and financial stability, enhance the economic growth of the various economic sectors, particularly the non-oil sectors, contain local inflationary pressures and maintain the competitiveness and attractiveness of the national...
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NIC’s Zajil Fund achieves returns of 12.76% in H1
KUWAIT: In a press statement, The National Investments Company (NIC) has announced recording a remarkable performance for its investment funds, another achievement that reflects its informed strategy and experienced and knowledgeable funds management team; this also mirrors the track record in managing local and regional portfolios and investment funds.Mohammed Al-Hamad, Assistant Vice President – Asset Management at NIC, stated that Zajil...
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G20 environment chiefs ready fresh bid for climate deals
CHENNAI: G20 environment ministers in India readied a fresh bid on Thursday to strike deals tackling climate change, days after heavy criticism for failing to agree on cutting fossil fuel use. Environment chiefs from the Group of 20 major economies—constituting more than 80 percent of both global GDP and CO2 emissions—are focusing on critical topics including climate change adaption finance, biodiversity and principles for ocean-based...
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Oil, gas majors post sliding profits on weaker prices
LONDON: Shell joined other energy majors Thursday in posting sliding profits after oil and gas prices weakened from peaks reached in the wake of Russia’s invasion of Ukraine. Energy prices had soared a year ago following the key producer’s invasion, sending global inflation to the highest levels in decades and providing record profits for oil and gas companies. Gas and oil prices have since pulled back but remain at elevated levels,...
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KFH underlines customers rights, and regulations
KUWAIT: Kuwait Finance House (KFH) continues efforts to support “Diraya” financial and banking awareness campaign launched by the Central Bank of Kuwait and Kuwait Banking Association for the second year in a row. The campaign aims to shed light on customers rights, rules and regulations of dealing with banks, information safety and security against intrusion, combating fraud transactions in addition to other warnings and regulations. This...
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NBK warns against phishing e-mails, offers protection tips
KUWAIT: In line with its active role in increasing awareness and promoting financial literacy and inclusion among all segments of society, National Bank of Kuwait (NBK) continues to support the “Let’s Be Aware” banking awareness campaign launched by the Central Bank of Kuwait, in cooperation with local banks and Kuwait Banking Association (KBA). In this context, NBK launched a campaign for warning against phishing e-mails, which are sent...
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Nigeria stun Australia 3-2 in biggest shock of World Cup
BRISBANE: Nigeria stunned co-hosts Australia 3-2 on Thursday in the biggest shock of the Women's World Cup so far, while the United States failed to hit top gear in a stalemate with the Netherlands. Australia's damaging defeat, having surrendered a 1-0 lead, leaves their last-16 hopes in real danger with one round of games to play in Group B. Randy Waldrum's Nigeria and Canada are both on four points from two games and in pole position to make...
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Ukraine fencer disqualified after refusing to shake Russian hand
MILAN: Ukraine’s Olha Kharlan was disqualified for not shaking the hand of her beaten Russian opponent Anna Smirnova at the Fencing World Championships on Thursday. Four-time sabre world champion Kharlan had told AFP a fortnight ago she would not shake hands with a Russian if she fought one. She had earlier become the first athlete officially representing Ukraine to face a Russian or Belarusian opponent since Russia invaded Ukraine in February...
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Trossard at the double as Gunners down Barcelona
INGLEWOOD: Leandro Trossard bagged a second-half brace as Arsenal twice came from behind to defeat Spanish champions Barcelona 5-3 in a pre-season friendly in Los Angeles on Wednesday. Belgian international Trossard netted in the 55th and 78th minutes as the English Premier League runners-up completed an emphatic victory at the SoFi Stadium in Inglewood. The start of an entertaining encounter at the home of the NFL's Los Angeles Rams was delayed...
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Kuwait fall in Group A with India, Qatar
KUALA LUMPUR: The joint draw for AFC FIFA World Cup 2026 qualifiers and Asia Cup 2027 was held on Thursday at headquarters of the Asian Soccer federation in the Malaysian capital, where Kuwait came in Group A along with Qatar and India. The draw distributed 36 teams to nine groups, each comprising four teams, set to compete between November 2023 and June 2024. The Kuwaiti team will play its first match against India on November 16.The first and...
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Irish singer Sinead O'Connor dies aged 56
Irish pop singer Sinead O'Connor, who shot to worldwide fame in the 1990s, has died at the age of 56, Irish media reported on Wednesday. Her family said it was with "great sadness that we announce the passing of our beloved Sinead. Her family and friends are devastated and have requested privacy at this very difficult time," Irish national broadcaster RTE reported. Born in County Dublin, O'Connor made 10 albums in her career from "I Do Not Want...
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Yemen specialty coffee ‘wave’ sweeps war-hit capital
Tucked amid shell-pocked buildings and roadside tributes to fallen fighters, a less obvious byproduct of wartime is spreading across Yemen’s capital: specialty coffee houses serving steaming cups of top-rated pour-over. The Arabian Peninsula’s most impoverished country, locked in an eight-year conflict between Iran-backed Houthi rebels and forces supporting the internationally recognized government, has deep ties to coffee. Legend has it that...
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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’