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Myanmar 50 years of Military rule
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Fitch affirms NBK’s long-term ratings at AA-, outlook stable
KUWAIT: Fitch Ratings, the international credit rating agency, affirmed National Bank of Kuwait’s (NBK) Long-term Issuer Default Rating (IDR) at ‘AA-’, the highest in the Middle East and North Africa, with a Stable Outlook. Fitch said that NBK’s ratings underpins its unique status and systemic importance as the flagship bank in Kuwait and dominant franchise, which supports its revenue generation capacity and ability to finance better...
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Kuwait credit growth slows despite household borrowing - NBK ECONOMIC REPORT
KUWAIT: Credit saw a moderate gain in August, with growth easing slightly to 5.2 percent y/y. Total credit rose by a net KD 102 million during the month. Household borrowing saw an exceptionally strong month, which coincided with the reintroduction of loan rebooking. This helped make up for a drop in business credit, much of it in the real estate sector. Deposits continued to see declines related to the summer season, easing growth in money...
Hamad N Al-Marzouq
Ooredoo gives special campaigns for small business owners
Hamad N Al-MarzouqKUWAIT: Ooredoo Kuwait, a member of the international Ooredoo Group, launched a special month-long offer to support small business owners across Kuwait. Business owners who sign up to any of Ooredoo’s business plans will receive 6 months of free 100 GB highspeed 4G+ internet, with a free router, in addition to a free advertising campaign on Ooredoo’s social media accounts in addition to print media.Customers can sign up to...
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Facebook rides mobile wave to boost profits, user base
SAN FRANCISCO: Facebook said surging mobile advertising lifted its profits and revenues as the world's biggest social network grew to over 1.5 billion people.Net profit in the third quarter jumped 11 percent from a year ago to $891 million as revenues leapt 41 percent to $4.5 billion, despite the negative impact of a strong dollar.The vast majority was from advertising, and mobile accounted for 78 percent of ad revenues in the quarter, compared...
NEW DELHI: In this picture taken on October 6, 2015, Omkarnath Sharma, known as “Medicine Baba”, sits in a room full of medicine collected by him. — AFP
India's 'medicine man' brings pills to the poor - 'The health care costs have increased greatly over the years'
NEW DELHI: In this picture taken on October 6, 2015, Omkarnath Sharma, known as “Medicine Baba”, sits in a room full of medicine collected by him. — AFPNEW DELHI: It's early morning but already "Medicine Baba" Omkarnath Sharma is pounding the pavement in one of New Delhi's upscale neighborhoods, collecting the wellheeled's leftover pills, capsules and syrups. Like a modern-day town crier, the 79-year-old calls to residents to bring out...
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Nestle’s Maggi noodles return to India after ‘crisis’
MUMBAI: Nestle's hugely popular Maggi noodles returned yesterday to shelves in India five months after the government banned them over lead levels, in one of the biggest crises to hit the Swiss giant. India's food safety watchdog banned the noodles nationwide in June after test results showed packets exceeded legal limits of lead, while criticizing Nestle for failing to list flavor enhancer monosodium glutamate (MSG) on labels.But the Bombay High...
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Rolex worn by Bond in 'Live and Let Die' sells for $363,000
A Rolex watch worn by Roger Moore in the James Bond film "Live and Let Die" has sold at auction in Geneva for 365,000 Swiss francs ($363,000, 335,000 euros), the auction house Philipps said yesterday. The estimated price for the stainless steel watch, made in 1972, was between 150,00-250,00 Swiss francs. The buyer's name was not disclosed. In the film, the watch is used to create a magnetic field which deflects bullets fired at the MI6 agent. At...
Oil Minister Ali Al-Omair
Resign or face grilling, MP Saleh urges Oil minister - Court upholds 3-year term for anti-unity tweets
Oil Minister Ali Al-OmairKUWAIT: MP Khalil Al-Saleh yesterday called on Oil Minister Ali Al-Omair to step down or face questioning in the National Assembly over alleged violations in the Oil Ministry and the Agricultural Authority which comes under him. Saleh said the Oil Minister has no place in the cabinet and should quit after failing in the oil ministry and after sowing seeds of disputes and controversy there.The lawmaker, who has threatened...
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Kuwait to stop public healthcare for expats
KUWAIT: Kuwait is considering plans to stop all access to public health services for expatriates - though they pay KD 50 per year for health insurance. The idea is to reduce stress on the government budget, weakened by lower oil international prices.Suggestions in this regard include doing away with 'harmful subsidies' which include healthcare for expats in public medical facilities, according to a report by the Supreme Council for Planning and...
Christine Lagarde
Kuwait's huge cash reserves allow it to move ahead with reforms: IMF - 'Citizens will understand' budget adjustment strategies
Christine LagardeKUWAIT: International Monetary Fund's Chief Christine Lagarde said in remarks published yesterday that Kuwait is privileged with enormous financial reserves, which allow the country to conduct gradual economic reforms, especially by directing surpluses to productive spending.She added in an interview with daily newspaper Al-Qabas that there is a dire need for the government to take serious steps towards economic reforms,...
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Shrimp prices rising again
KUWAIT: The prices of local shrimp shot up to KD 90 per basket compared to KD 60 when shrimping season open two months ago. The drastic rise in price are due to low supply and excessive demand, say shrimp merchants especially demand from restaurants and hotels throughout Kuwait.The Public Authority for Agricultural Affairs and Fish Resources (PAAAFR) manages shrimping season so as to give the shrimp enough time to resupply. Shrimp harvesting is...
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KUWAIT: Security officers process the data information as residents submit their biometrics.- Photos by Yasser Al-Zayyat
Expats require biometrics to exit
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Lieutenant General Sabah Jaber Al-Ahmad Al-Sabah, Deputy Chief of Staff of Kuwait’s Army, welcomes Turkish General Metin Gürak as the Kuwait Army Band delivers a performance. — KUNA photos
Kuwait, Turkey strengthen military relations during official meetings
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KUWAIT: A map provided by the Communication and Information Technology Regulatory Authority (CITRA) shows Kuwait’s new international gateway for connectivity and transit.
CITRA launches new int’l gateway for faster, secure connectivity
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KUWAIT: Cabinet ministers, led by HH the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, convene for their weekly meeting on Wednesday January 8, 2025. — KUNA
Plan to reform Kuwait’s education system gets green light from Cabinet
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Dr Nader Abdullah Mohammad Al-Jallal
Committee uncovers 13 new cases of university degree forgers