Business

Report: US Gov’t Shutdown Pushes Gold to USD 3,886 Per Ounce

Kuwait city: Gold prices continued their upward trend, reaching new record levels of USD 3,886 per ounce, influenced by the US federal government shutdown and the continued failure to reach an agreement in Congress on government funding, said Kuwait’s…

Central Bank of Egypt Reduces Interest Rates by 1 Percent

Cairo: The Central Bank of Egypt (CBE) cut on Thursday its overnight deposit rate, overnight lending rate, and the rate of the main operation by one percent (100 basis points) to 21.00 percent, 22.00 percent, and 21.50 percent, respectively. The CBE a…

CBK Participates in GCC Campaign to Combat Financial Cyber Fraud

Kuwait city: The Central Bank of Kuwait (CBK) is participating in the joint awareness campaign among the central banks of the GCC countries to combat financial cyber fraud, the CBK said on Thursday.

According to Kuwait News Agency, a CBK statement i…

Turkiye and UAE Enhance Financial Ties with Three New Agreements

Abu dhabi: Turkiye and the UAE signed three agreements on Thursday to increase financial cooperation, strengthen trade relations, and exchange local currency. The deals mark a significant step forward in the economic relationship between the two natio…