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Kuwait

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  • Burgan Bank gets c.bank approval for Turkish buy Saturday, 6 Oct 2012 | 8:16 AM ET

    KUWAIT, Oct 6- Burgan Bank said on Saturday it had received approval from the Kuwaiti central bank for its planned purchase of Eurobank's Turkish arm. It will acquire 70 percent of the lender from Tekfen's Greek partner EFG Eurobank in a $355 million deal, while the remaining 29.26 percent stake will come from Tekfen Holding for an unknown sum.

  • Job trends key to presidents seeking re-election Friday, 5 Oct 2012 | 2:52 PM ET
  • DUBAI, Oct 4- Kuwait's unexpected 50 basis-point interest rate cut will help reduce borrowing costs for businesses but is not going to be enough to kick-start bank lending without a lasting solution to the country's political crisis.

  • DUBAI, Oct 4- Dubai's index hit a fresh five-month high on Thursday after the market regulator announced reforms aimed at boosting liquidity. "These reforms have been long-awaited and should increase liquidity in the medium term," said Kanaga Sunder, Gulf Baader Capital Markets head of research in Muscat.

  • Kuwait picks Korean group for power project - KUNA Thursday, 4 Oct 2012 | 7:03 AM ET

    KUWAIT, Oct 4- State-owned Kuwait Oil Company has picked a South Korean group to construct power station components and reinforce gas storage tanks in a deal worth 107 million dinars, state news agency KUNA said on Thursday.

  • KUWAIT, Oct 3- Kuwait's central bank is cutting its discount rate by 50 basis points to 2 percent to help bolster the banking sector and support the economy, state news agency KUNA said late on Wednesday.

  • KUWAIT, Oct 3- Kuwait's central bank is cutting its discount rate by 50 basis points to 2 percent, state news agency KUNA said late on Wednesday. In some of his first comments to international media, Central Bank Governor Mohammad al-Hashel said on Monday current monetary policy settings were in line with economic developments.

  • Kuwait cbank cuts discount rate by 50 bps to 2 pct-KUNA Wednesday, 3 Oct 2012 | 2:24 PM ET

    KUWAIT, Oct 3- Kuwait's central bank is cutting its discount rate by 50 basis points to 2 percent, state news agency KUNA said late on Wednesday. The cut will take effect from Oct. 4, KUNA said in an SMS alert. It gave no further details.

  • MIDEAST STOCKS-UAE hits new peaks on property sentiment Wednesday, 3 Oct 2012 | 10:24 AM ET

    DUBAI, Oct 3- Dubai's bourse hit its highest level in five months, while Abu Dhabi's index ended at a fresh 14- month high, as confidence in the reviving local property market boosted real estate stocks.

  • KUWAIT, Oct 3- Kuwait's cabinet has asked the country's ruler to consider dissolving parliament, state news agency KUNA reported on Wednesday, in a widely expected bid to clear the way for a new election and end months of political deadlock.

  • *Move expected after parliament fails to convene. KUWAIT, Oct 3- Kuwait's cabinet has asked the country's ruler to consider dissolving parliament, state news agency KUNA said on Wednesday, in a widely-expected bid to clear the way for new elections and end months of political deadlock. Political turmoil has held up a 30 billion dinar economic development plan.

  • Kuwait govt calls for dissolution of parliament - KUNA Wednesday, 3 Oct 2012 | 6:19 AM ET

    KUWAIT, Oct 3- Kuwait's cabinet has asked the country's ruler to consider dissolving parliament, state news agency KUNA said on Wednesday, a widely-expected move after months of political deadlock.

  • DUBAI, Oct 2- The Abu Dhabi index hit a 14- month on Tuesday, lifted by real estate stocks which gained on the prospect of consolidation in the struggling sector. Aldar Properties and Sorouh Real Estate were the main drivers, together accounting for nearly 75 percent of all shares traded on the bourse.

  • UPDATE 1-Kuwait should cut spending- c.bank governor Monday, 1 Oct 2012 | 10:15 AM ET

    *Kuwait needs to focus on investment. KUWAIT, Oct 1- Kuwait's government should take all necessary measures to cut spending and focus on investing in projects that will benefit the major oil producer's economy in the long-term, Central Bank Governor Mohammad al-Hashel said on Monday.

  • KUWAIT, Oct 1- Kuwait's government should take all necessary measures to cut spending and current monetary policy settings are in line with economic developments, Central Bank Governor Mohammad al-Hashel said on Monday.

  • KUWAIT, Oct 1- Kuwait's government should take all necessary measures to cut spending and current monetary policy settings are in line with economic developments, Central Bank Governor Mohammad al-Hashel said on Monday.

  • Under new rules, announced in early April with a Sept. 30 deadline, any bank's lending to the governments of the seven-member UAE federation and related entities is capped at 100 percent of its capital base, while lending to a single borrower is curbed at 25 percent.

  • KUWAIT, Oct 1- Banks in the United Arab Emirates will not be given an extension of the Sept. 30 deadline for them to limit their exposure to state-linked debt, a UAE central bank official said on Monday. Shamsi said the UAE central bank would deal on an individual, case-by-case basis with commercial banks on the issue of the deadline.

  • KUWAIT, Oct 1- Banks in the United Arab Emirates will not be given an extension of the Sept. 30 deadline for them to limit their exposure to state-linked debt, a UAE central bank official said on Monday. Shamsi said the UAE central bank would deal on an individual, case-by-case basis with commercial banks on the issue of the deadline.

  • The World’s Biggest Oil Producers Wednesday, 25 Apr 2012 | 12:23 PM ET
    Given the pace of global growth, experts say crude oil prices are higher than they should be – largely the result of concern Iran might close the Strait of Hormuz in its showdown with the U.S. and E.U. over the expansion of its nuclear program.Like Iran, some of the world’s other biggest oil producers can be subject to unpredictable and unstable political events, causing price shocks. Such was the case during the 2011 civil unrest in Libya. At the time, Libya was the 17th largest oil-producing c

    Big movements in the price of oil can have significant effects on the economy, and countries with the most oil within their borders are set to benefit, as demand for crude continues to rise.