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Four Kuwait banks reviewed for possible rating downgrade (KUWAIT)
Monday 8 December 2008
by Dubai
International ratings agency Moody’s Investors Service has placed on review for possible downgrade the long-term deposit rating and bank financial strength rating (BFSR) of four Kuwaiti banks due to their exposure to property sector.
The banks are National Bank of Kuwait at Aa2/B-, Commercial (...) > continue
Wataniya Airways’ first flight to Dubai in Feb (KUWAIT)
Monday 24 November 2008
by Dubai
Kuwaiti passengers travelling to Dubai can now avail of Wataniya Airways’ services. The carrier, which is Kuwait’s new full service luxury airline will provide two daily flights to Dubai, as its first destination from February 2009.
This was announced during a press conference held at Kuwait’s (...) > continue
Kuwait stocks edge lower (KUWAIT)
Tuesday 11 November 2008
by Dubai
KUWAIT: Most Gulf share markets dropped for the second straight day yesterday as a strong rebound in Asian stocks failed to offset anxieties about the regional economy. Only the Omani market was up slightly, while the other five bourses dipped as investors appeared to take the view that the (...) > continue
Kuwait Bank will buy equity in Gulf Bank (KUWAIT)
Saturday 1 November 2008
by Dubai
Kuwait Government agreed to buy an equity stake in Gulf Bank, the country’s second-largest lender by assets, after the bank announced unspecified losses from derivative trading last week, Kuwait news agency Kuna reported, citing Finance Minister Mustafa Al Shimali.
The government, which already (...) > continue
Business normal, says Kuwait’s NBK (KUWAIT)
Sunday 26 October 2008
by Dubai
National Bank of Kuwait, the country’s biggest lender by assets, said on Sunday was not affected by the troubles of smaller lender Gulf Bank and expected to meet its 2008 profit target.
"Business is going normally. On the contrary, there is a flight to quality. We are seeing deposits are coming (...) > continue
Kuwait to chair Jeddah summit (KUWAIT)
Saturday 25 October 2008
by Dubai
The sixth Gulf summit for leaders of the Gulf Cooperation Council (GCC) states will be held in Jeddah next Sunday, and will be chaired by Kuwait as chairman of the current session of the GCC. Holding the midyear unofficial GCC summit aims to exchange viewpoints and explore latest regional and (...) > continue
