MANAMA (Reuters) – Bahrain-based Ahli United Bank AUBB.BH (AUB) is looking for acquisitions in its existing markets and in new ones as it tries to build a network across the Middle East, its chief executive said.
Its desire to expand across borders reflects a trend among Gulf banks, which are increasingly outgrowing their home markets. Rising trade and travel among the six nations of the Gulf Cooperation Council (GCC) are also pushing the region’s banks to become more international.
KUWAIT, Oct 29 (Reuters) – Kuwait, one of the world’s
richest countries per capita, must make tackling a shortage of
government-funded housing its top priority, officials in the
Gulf Arab state said at the opening of parliament on Tuesday.
Accustomed to a welfare state which is generous by
international comparisons, Kuwaitis say they may have to wait
for up to 20 years on the housing list.
KUWAIT, Oct 28 (Reuters) – Kuwait’s prime minister has
called the Gulf Arab state’s welfare system unsustainable and
said the major oil producer needs to cut spending and the
consumption of its natural resources.
In some of the strongest comments yet from a senior
government official on Kuwait’s rising spending bill, Sheikh
Jaber al-Mubarak al-Sabah said a “transformation” was needed to
avoid future problems.
KUWAIT (Reuters) – Mobile telecommunications group Zain (ZAIN.KW: Quote, Profile, Research, Stock Buzz) wants to expand in North Africa by taking controlling stakes in companies or winning management contracts in the region, the Kuwaiti group’s chief executive said.
Expanding abroad would appear to mark a reversal of Zain’s strategy after it sold most of its Africa assets to India’s Bharti Airtel (BRTI.NS: Quote, Profile, Research, Stock Buzz) for $9 billion in 2010, and attempted unsuccessfully to offload its stake in Saudi affiliate Zain Saudi 7030.SE in 2011.
KUWAIT (Reuters) – Turkey’s foreign minister on Thursday deplored what he called an international failure to tackle the humanitarian crisis in war-ridden Syria, saying food and medicine are running out and snipers are shooting pregnant women.
Ahmet Davutoglu said Turkey, which has received more than 600,000 Syrian refugees, would keep its border with Syria open to people fleeing the violence but said the world needed to share the humanitarian burden.
PARIS/KUWAIT (Reuters) – U.S. Secretary of State John Kerry sought on Monday to calm rising tensions with Saudi Arabia, which has spurned a U.N. Security Council seat in fury at inaction over the crisis in Syria.
Saudi Arabia rejected a coveted two-year term on the council on Friday in a rare display of anger over what it called “double standards” at the United Nations. Its stance won praise from its Gulf Arab allies and Egypt.
KUWAIT (Reuters) – Saudi Arabia’s Gulf Arab allies and Egypt have applauded its decision to reject a U.N. Security Council seat in protest at the world body’s failure to act on Syria, whose leader is backed by Russia and Shi’ite Iran.
Saudi Arabia turned down a coveted two-year term on the council on Friday in a rare display of anger with what it called “double standards” in the United Nations.
BAGHDAD (Reuters) – In Sadr City, an impoverished district of northeastern Baghdad, local people say the anger of Shi’ite Muslims against Sunni militants is ready to erupt into violence.
“Iraq today is boiling like a volcano and it could blow at any minute,” said Ali al-Husseini, a 27-year-old cleric.
BAGHDAD, Sept 18 (Reuters) – In a compound ringed with
barbed wire in Baghdad, a small group of Iraqi artists gather to
sip tea and soft drinks in the shady patches of a walled garden.
For artist Qasim Sabti, who runs the adjoining private
gallery, the intimacy of the scene is familiar. Baghdad’s
cultural community is dwindling and confining itself to refuges
like this one as violence rises in the city, he said.
BAGHDAD (Reuters) – At least 47 people were reported killed at an Iranian dissident camp in Iraq on Sunday, the United Nations said, urging Baghdad to investigate the “tragic events” at a site north of the capital.
The violence took place hours after a mortar bomb attack on the camp which the dissent group Mujahadin-e-Khalq (MEK) blamed on the Iraqi army.