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BANKING

Credit growth slows in Kuwait to 4.3%; corporate repayments on the rise

January 16, 2018

Credit volume among Kuwaiti Bank banks contracted in November, with growth slowing to 4.3% year-on-year (YoY), reports National Bank of Kuwait. Among some of the more notable deals transacted in November last year was the KWD400m acquisition of a stake in Zain by Omantel, which is thought to have resulted in some corporate repayments.

Even"... Continue Reading

NBK report: Local credit down KD 140 mln in Nov.

January 16, 2018

Local bank credit contracted in November, with growth slowing to 4.3 percent year-on-year (y/y), shows a recent economic report.
The month had seen the completion of the KD 400 million (USD 1.3 billion) acquisition of a stake in Zain by Omantel, which is thought to have resulted in some corporate repayments, said the bank, released by National Bank of Kuwait (NBK).... Continue Reading

Gulf Bank driving new era of growth in Kuwait

January 13, 2018

The past two years have proved economically testing for the oil-rich nations of the Arabian Gulf. Beginning in 2015, the sustained slump in global oil prices has taken its toll on the region, upsetting fiscal balances and prompting a profound push towards economic diversification. While international production cuts have helped to ease the market’s two-year glut, these prices appear to be the new norm,"... Continue Reading

MidEast investment banking fees flatline at $912m in 2017

January 11, 2018

Middle Eastern investment banking fees totalled an estimated $912.4 million during 2017, 0.1 percent less than the value of fees recorded during 2016, according to Thomson Reuters.

Its 2017 investment banking analysis for the Middle East also showed that equity capital markets fees increased 118 percent to $91.3 million, while"... Continue Reading

Kuwait to study implications of trading in Bitcoin currency

January 9, 2018

Ministry of Commerce and Industry is coordinating with Central Bank of Kuwait to study the implications of the electronic currency market trading in “Bitcoin”.

They discussed the market extensively to make a decision in light of the rapid developments in the virtual currency markets particularly Bitcoin, reports Aljarida"... Continue Reading

Emirates NBD and Dynamics Partner to Introduce Wallet Card™ -- UAE’s First Battery-Powered Interactive Payment Card

January 9, 2018

Emirates NBD and Dynamics Partner to Introduce Wallet Card™ -- UAE’s First Battery-Powered Interactive Payment Card

(AETOS Wire) -- Dynamics Inc. and Emirates NBD, a leading bank in the Middle East and a front-runner in digital banking solutions today at the 2018 Consumer Electronics Show (“CES”) announced plans to introduce the first battery-powered, interactive payment cards to the United Arab Emirates in 2018.

Wallet"... Continue Reading

Private equity industry need to keep up with digitisation: PwC study

January 8, 2018

Private Equity houses need to keep up with the digital revolution engulfing the Middle East and more than 80 per cent of PE houses believe that digitisation is critical for making their portfolio companies ‘future ready’, according to a recent study by global audit and assurance, tax and consulting service firm PwC.

"... Continue Reading

KAMCO, Gulf Bank and NBK Capital advise KIPCO on KWD 100mn issue

January 8, 2018

KAMCO Investment Company, Gulf Bank and NBK Capital acted as Joint Lead Managers for the Kuwait Projects Company (Holding) (KIPCO)’s KWD 100 million, senior unsecured dual-tranche bonds due December 2024.

KAMCO, Gulf Bank and NBK Capital’s joint press release highlights the senior unsecured bond issuance, with an issuer’s"... Continue Reading

Dynamics Inc., Global Banks, Payments Networks, and Telecommunications Carriers Unveil Wallet Card™

January 8, 2018

Dynamics Inc., Global Banks, Payments Networks, and Telecommunications Carriers Unveil Wallet Card™

(AETOS Wire) -- Dynamics Inc., in conjunction with international banks, card issuers, payment networks, and telecommunication operators today unveiled Wallet Card™ -- the world’s first connected, secure payment card. The Consumer Technology Association (CTA) also recognized the Wallet Card and the Wallet Card Consortium members with four CES Innovation"... Continue Reading

Kuwaiti deposits in Iranian banks to be revealed soon – Value of Iran currency declines

January 6, 2018

With the recent escalation of situation in Iran, it seems the actual value of deposits by Kuwaitis in the Iranian banks offering high interest rates will be revealed in the next few days, along with their shares in the companies, reports Al-Rai daily.

Fears about the deposits have intensified with the decline in value of the Iranian"... Continue Reading

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