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Abdulaziz Al-Marzouq
KFH-Turkey issues capital boosting $350m sukuk
Abdulaziz Al-MarzouqKUWAIT: Kuwait Finance House Turkey (KFH-Turkey) issued Tier 2 capital-boosting sukuk worth $350 million to support its capital situation. The bank has set the yield at 7.9 percent for 10-year tenure. The sukuk will be listed on the Irish Stock Exchange for trading. The credit rating agency "Fitch" assigned an expected rating of BBB- to this tier 2 Basel III-complaint issue."This issue represents one of the key issues in...
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Kuwait inflation eases to 3.0% in December
KUWAIT: Inflation in consumer prices eased for the third consecutive month in December as price growth in most major components was steady. Headline inflation slowed to 3.0 percent year-on-year (y/y) from 3.1 percent in November; core inflation (which excludes food items) also eased in December, slowing to 2.6 percent y/y from 2.8 percent y/y in November. Annual inflation averaged at 3.3 percent in 2015, higher than the 2.9 percent reading in...
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Oil prices, monetary policies and emerging markets pose challenges to GCC economies - Markaz presentation on 'Top GCC Risks for 2016 & Beyond'
KUWAIT: Kuwait Financial Centre "Markaz" has recently held a presentation on "Top GCC Risks for 2016 & Beyond" for its clients and market experts at Chairman's Club. The presentation was delivered by M R Raghu, Head of Research at Markaz and Managing director of Marmore MENA Intelligence, a research subsidiary of Markaz providing services of financial research and analysis of Mena economies, markets, and companies in the MENA region. The general...
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Gulf Insurance, Re-Insurance launch Management Development Program
KUWAIT: Gulf Insurance and Re-Insurance, the subsidiary of Gulf Insurance Group the leading insurance service provider in Kuwait and Middle East is Working towards management's vision or creating a highly skilled and competent future management team, Gulf Insurance and Reinsurance Company (GIRI) launched its Management Development Program 4 (MDP4) on Thursday, 4th February 2016 at GIRI headquarters in Kuwait City. After the successful completion...
NEW DELHI: Seen through a plastic curtain, an Indian man surfs a Facebook page at an internet cafe in New Delhi yesterday. India’s telecoms regulator has essentially banned a Facebook program that sought to connect with low-income residents by offering free access to a limited version of the social network and other Internet services, as part of a ruling in favor of net neutrality. —AP
Facebook's India ban could embolden other regulators - Regulators in other Free Basics markets may follow India
NEW DELHI: Seen through a plastic curtain, an Indian man surfs a Facebook page at an internet cafe in New Delhi yesterday. India’s telecoms regulator has essentially banned a Facebook program that sought to connect with low-income residents by offering free access to a limited version of the social network and other Internet services, as part of a ruling in favor of net neutrality. —APSINGAPORE/MUMBAI: India's decision to effectively ban...
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Impact of Zika virus on Olympic preparations
Sports authorities across the world are scrambling to find out more about the spread of the mosquito-borne Zika virus in Brazil as they make plans for August's Rio Olympics. Below are the latest announcements:AUSTRALIAAustralia's Olympic Committee said no athletes have indicated they intended to withdraw, but it would "totally understand" if they did. BRITAINBritish Olympic Association Chairman Lord Sebastian Coe said none of the country's...
A handout picture obtained from the production department of Syrian movie “It’s Raining in Homs”, shows actors playing a scene in the ruins of the Old City of Homs.
War-scarred ruins of Syria's Homs inspire artists
A handout picture obtained from the production department of Syrian movie “It’s Raining in Homs”, shows actors playing a scene in the ruins of the Old City of Homs.Devastated by 20 months of combat between regime forces and rebel fighters, the haunting ruins of the Old City of Homs now serve as inspiration for some Syrian artists. In summer 2014, director Joud Said decided to set his film "It's Raining in Homs" in the ruins, just three...
Michael Douglas accepts the Career Achievement Award at AARP’s 15th Annual Movies for Grownups Awards at the Beverly Wilshire Hotel.
Michael Douglas among film stars honored by AARP
Michael Douglas accepts the Career Achievement Award at AARP’s 15th Annual Movies for Grownups Awards at the Beverly Wilshire Hotel.Michael Douglas was initially confused when he was told that he was being honored with a career achievement honor by the AARP Movies for Grownups Awards. The star of such films as "Wall Street" and "Fatal Attraction" told the crowd at Monday's glitzy ceremony that his assistant mistakenly informed him that he was...
Revelers of Mangueira samba school perform.
Behind the fun, Rio Carnival relies on discipline
Revelers of Mangueira samba school perform.Surrounded by jaw-dropping costumes, barely there gold bikinis, and thousands of hip-shaking dancers, the one thing you don't expect at Rio's Carnival is a man with a T-shirt emblazoned: "Discipline." But out of the limelight, the dazzle, the sumptuous floats and eroticized dance routines, the likes of Paulo Roberto are the reason why Carnival has all the efficiency and precision that so much else in...
Blood-stained clothes found in the crime scene.
Kuwaiti woman killed by maid
Blood-stained clothes found in the crime scene.KUWAIT: A 23 year old Kuwaiti woman has been allegedly killed by her family's domestic servant at her home in Al-Andalus area. The maid, an Ethiopian national, stabbed the woman, Fatima, while sleeping and then tried to commit suicide by cutting her own throat.The victim's body has been recovered and the assailant has been sent to Sabah hospital. Unconfirmed reports indicate that the young Kuwaiti...
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Saleh: Current consumption patterns are unsustainable - Power tariffs may reach 19fils/KW for heavy users
KUWAIT: Finance Minister Anas Al-Saleh yesterday presented to the National Assembly details of the government's plan to cut subsidies and raise prices of fuel and public services as part of efforts to finance the budget deficit and reform the economy in the face of the sharp fall in oil revenues. Saleh said the price hikes will be implemented shortly, but provided no specific details to reporters about the size of the planned increases other than...
KUWAIT: His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah chairs the Cabinet’s meeting yesterday. —KUNA
Info Minister presents sports revamp strategy - Cabinet OKs senior officials' appointment
KUWAIT: His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah chairs the Cabinet’s meeting yesterday. —KUNAKUWAIT: Minister of Information and Minister of State for Youth Affairs Sheikh Salman Sabah Salem Al-Humoud Al-Sabah yesterday presented a report to the Cabinet on the strategy of the Public Authority for Sports (PAS) to develop Kuwaiti sports.PAS's strategy consists of six aspects: the private sports sector, public sports...
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KUWAIT CITY: Jassim Al-Awadhi waits at a bus stop as a bus approaches in this file photo.
Disorganized bus network behind lacking transit system
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Kuwait's fencer Yusuf Al-Shamlan
Shamlan leaves Olympic Games
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KUWAIT: Young girls participate in Girl Up Kuwait's first conference which focused on the role of women in Kuwaiti society and politics.
Girl Up Kuwait: Young trailblazers give girls a voice
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Air Force carries out aeromedical evacuation exercise
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Kuwaiti pilots learn to fly Turkish Bayraktar drones