Kuwait Financial News

Dubai, US special envoy John Kerry admitted that he thought it might never happen. The seasoned international negotiator recalled a conversation with one minister who worried about a deal that would signal the end of fossil fuels. «One minister from one of those countries involved said, 'John, you can't ask us to commit economic suicide',» Kerry said. He did not name the country but Saudi Arabia, the world's top oil exporter, led the charge against any strong language against fossil fuels. Kuwait and Iraq were also staunch opponents. In the end, nearly 200 countries adopted on Wednesday a deal stating that the world will be «transitioning away from fossil fuels» in order to achieve net-zero emissions by 2050. It was the first time in the 28-year history of the Conference of the Parties that all fossil fuels were mentioned in an accord. «I never thought we were going to have the kind of breadth that we have today, to be honest with you,» Kerry said on Wednesday.

Bain Capital is likely to sell a minor stake worth Rs 3,700 crore in Axis Bank through a block deal on Wednesday, according to media reports. Entities owned by the private equity firm are likely to sell 3.34 crore shares, representing 1.1% stake in the lender. The floor price for the sale has been set at Rs 1,109 a share, a discount of about 2% from the current market price.

TortoiseEcofin Senior Portfolio Manager Robert Thummel discusses how China's economic woes could impact crude oil prices on «The Claman Countdown.»

By Laura Sanicola

commerce ministry is working to address issues related to non-tariff barriers and market access for domestic products in sub-Saharan African countries like Nigeria, Ethiopia, Ghana and Gulf nations to boost India's exports, an official said. The official said meetings have been held with Indian missions of the sub-Saharan African countries with which India has significant bilateral trade. The major trading partners of India in that region in 2022-23 were South Africa (total trade USD 18.9 billion, exports USD 8.5 billion); Nigeria (USD 11.85 billion, exports USD 5.15 billion); Togo (USD 6.6 billion, exports USD 6 billion), and Tanzania (USD 6.5 billion, exports USD 3.93 billion). The other countries were Mozambique (USD 5 billion, exports USD 2.5 billion); Angola (USD 4.22 billion, exports USD 621 million); and Kenya (USD 3.4 billion, exports USD 3.2 billion). «A virtual meeting with Indian Mission of top 10 countries (bilateral trade-wise) in sub-Saharan African region was held in September to discuss the overall economic and commercial relations with those countries, export performance and non-tariff barriers which are acting as impediments to bilateral trade and enhance exports,» the official said. A similar meeting was also held with Indian Missions in GCC countries. GCC is a union of six countries in the Gulf region — Saudi Arabia, the UAE, Qatar, Kuwait, Oman, and Bahrain.

By Ateeq Shariff

By Farah Saafan and Suleiman Al-Khalidi

India dished out a gritty display but suffered a 0-3 drubbing against dominant Asian champions Qatar in their second match of the 2026 FIFA World Cup second round qualifiers here on Tuesday. Qatar would have won by a bigger margin had they not missed several chances while dominating throughout the 90 minutes at the Kalinga Stadium. The visiting side scored through Moustafa Tarek Mashal (4th minute), Almeoz Ali (47th) and Yusuf Adurisag (86th).

By Md Manzer Hussain

₹12.43 crore from booking, according to the data of Sacnilk.com released on Friday. The Katrina Kaif and Emran Hashmi starrer movie is now running in two figures and there are also high chances that it will become the biggest Diwali opener in India. The movie will be released in various formats including 2D, IMAX 2D, and 4DX.

Goldman Sachs Group Inc. hired a trio of Credit Suisse private bankers as it builds up its presence in a swath of the Middle East that’s increasingly becoming a destination for the world’s rich.

Gulf countries with one visa, just like Schengen countries! In a bid to simplify travel logistics and boost tourism, the Gulf Cooperation Council (GCC) countries have recently approved a unified tourist visa that will allow people to travel across member states such as Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE. This was announced by GCC President Sayyed Hamoud bin Faisal Al Busaidi during the 40th meeting of the Interior Ministers.

Ripple will power new payment corridors between 27 African countries and Australia, the United Kingdom and the Gulf Cooperation Council (GCC) under a deal with African mobile payments provider Onafriq.

health insurance for themselves or their dependents in India. According to a PolicyBazaar report, among NRIs, those from Gulf nations like the UAE, Saudi Arabia, Qatar, Oman, and Kuwait constitute the largest percentage of health insurance buyers, at 58%, followed by the USA/Canada (14%), the UK (8%), and Australia (6%). Think you check all the immigration boxes? Find out The appeal lies in the lower cost of health insurance in India compared to other countries, making it a viable choice for those residing abroad. Family floater health insurance plans are the preferred choice among NRIs, accounting for 40% of purchases. A significant portion of these policies (25%) is bought for parents or senior citizens residing in India. To maximize their health insurance benefits, NRIs opt for high-sum insured plans, especially crucial for severe illnesses or costly medical conditions. At least one-fourth of NRIs choose coverage of more than Rs 1 crore, while 34% opt for a sum insured between Rs 25 lacs to Rs 1 crore. Over half of the buyers opt for multi-year policies to take advantage of premium discounts. This not only locks in the premium for the chosen period but also guards against medical inflation or changes in premiums due to increasing age.

Investing.com — Investors who rushed into oil thinking it could be a hedge to the Israel-Hamas war are beginning to find out that black gold isn’t quite the haven as gold itself is reputed to be.

Investing.com — If Friday’s market was any indication, oil gains could be reversed almost as quickly as they are made on news of any thawing of the crisis in the Middle East. The question though is how many hours of relative calm could there be in this conflict before the next headline of an escalation sends traders over the edge again?

IndiGo and SpiceJet – are listed on the bourses. The plans of GoAir to launch an IPO were cancelled, and the airline has been facing financial issues that have affected its operations since May this year. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! Akasa, launched in mid-2022, currently operates over 750 flights per week across 16 routes.

‘War crime’, ‘attempted genocide’: How some Jews around the world denounced Israel's Gaza bombardment This prompted the company's Pakistan-based arm to issue a statement in a bid to distance itself away from the Israeli branch's actions. “McDonald’s in Pakistan is a local enterprise, with full ownership and operation overseen by SIZA Foods Pvt. Ltd.

oil prices held steady near $85 a barrel, but traders remain cautious following the eruption of violence between Israel and Hamas, which could potentially disturb the oil supply chain in the Middle East. Prices clocked one-year highs at the end of September, driven by worries about supply shortages after a surprise extension of voluntary supply cuts by Saudi Arabia and Russia, but the momentum was short-lived. An unexpected buildup in US crude inventories and concerns over demand adversely hit the sentiments. However, extreme uncertainty prevails in the global oil market as the ongoing clash between Israel and Hamas sparks fears that the turmoil could spread across West Asia and threaten the world’s oil supply. The direct impact on oil prices is limited, as neither Israel nor Gaza produces significant amounts of oil.

Stock market today: Shares of Servotech Power Systems Ltd has been in uptrend after ushering in new year 2023. This NSE listed stock has delivered over 360 per cent return to its positional shareholders in year-to-date (YTD) time and it looks that some more steam is still let in this small-cap stock.

Israel-Hamas war dragged on to the sixth day, many countries, including India, are making arrangements to repatriate their citizens from Israel. In a show of solidarity, US Secretary of State has arrived in Israel.