Latest news with #CNBCInternational
AFP
12-05-2025
- Politics
- AFP
Beirut blast clip misrepresented as South Asia conflict
"BREAKING NEWS: Pakistan and India are engaged in an open war and attacking each other brutally," reads part of an Indonesian-language post on X on May 7, 2025. The post features a six-second clip of a major explosion levelling buildings along a street. Image Screenshot of false post, taken on May 9, 2025 Similar Indonesian and English-language posts surfaced on Facebook, Instagram and Threads after India launched air strikes on May 7 targeting "terrorist camps" in Pakistan, in retaliation for an April 22 attack in the Indian-run side of disputed Kashmir that killed 26 people (archived link). New Delhi blamed the assault on Islamabad, which denies the accusation. More than 60 people were killed on both sides as the nuclear-armed rivals engaged in four days of intense fighting before US President Donald Trump unexpectedly announced a truce on May 10 (archived link). A reverse image search using keyframes found the circulating clip is part of longer footage published on the YouTube channel of broadcaster CNBC International on August 2, 2021 (archived link) "August 4 marks one year on from the Beirut blast and no one has been held to account," its title reads. Image Screenshot comparison of the video in false posts (L) and the YouTube report from CNBC International (right) The August 4, 2020 explosion killed more than 220 people, injured some 6,500 and devastated swathes of Lebanon's capital (archived link). Authorities said the explosion was triggered by a fire in a warehouse where a huge stockpile of ammonium nitrate fertiliser had been stored unsafely for years. Nobody has been held responsible for the blast, one of history's largest non-nuclear explosions. AFP scanned Google Maps imagery of neighbourhoods near the Port of Beirut and found the video's matching location along a street called Chafaka (archived link). Image Screenshot comparison of the falsely shared video (L) and its location in Beirut seen on Google Maps street view AFP has debunked a wave of misinformation related to the India-Pakistan conflict here.
Campaign ME
08-05-2025
- Business
- Campaign ME
Khaleej Times appoints Ted Kemp as Chief Content Officer
Khaleej Times has announced the appointment of Ted Kemp as its new Chief Content Officer. The addition to one of the UAE's longest-standing English-language newspapers's leadership bench comes in an effort to keep pace with the region's rapidly changing media landscape. With a sharper focus on digital storytelling, real-time coverage, and audience engagement, Kamp's appointment aims to continue to build stronger connections with a younger, increasingly diverse readership across the GCC and MENA. Charles Yardley, Chief Executive Officer of Khaleej Times, said, 'Ted's leadership will be instrumental as we accelerate our digital transformation and expand our reach across the GCC and MENA regions. His passion for journalism and innovative thinking make him an ideal fit for Khaleej Times.' A seasoned editorial leader with over two decades of experience in media and international journalism, Kamp has built a strong track record in driving strategic growth and expanding audiences. He most recently served as Editor of Moniify in Dubai, where he led a dynamic newsroom delivering content to millennial and Gen Z audiences across the Middle East, India, and Southeast Asia. Prior to this, he also served as Managing Editor at CNBC International, overseeing EMEA and APAC editorial operations from Singapore and delivering record-breaking digital audience growth. Mohammed Galadari, Co-Chairman and Group CEO, added, 'On behalf of Khaleej Times, I warmly welcome Ted. His extensive experience and forward-looking vision will be crucial as we continue to redefine excellence in content creation. Together, we look forward to shaping the future of journalism and delivering compelling narratives that resonate with our diverse audiences.' In his new role, Kemp will lead the Khaleej Times newsroom, and has been tasked with championing the title's commitment to journalism, and spearheading innovation across editorial functions. Khaleej Times says his appointment comes at a pivotal time for the brand, which claims to be currently reaching the largest audience in its history. Readers under the age of 35 now account for 40 per cent of Khaleej Times' audience, with growth largely driven by its KT Plus platform. Commenting on his appointment, Kemp said 'It's the professional opportunity of a lifetime to join Khaleej Times, an organisation that has gained universal esteem over the years. It's not just the brand's rich heritage that excites me – it's the future. Khaleej Times stands as one of the most powerful and trusted news outlets in the most dynamic region on the planet. The editorial team holds in its hands the opportunity not only to reflect the UAE and the wider region, but to help define it. That's what inspires me.'
Campaign ME
07-05-2025
- Business
- Campaign ME
Khaleej Times appoints Ted Kamp as Chief Content Officer
Khaleej Times has announced the appointment of Ted Kamp as its new Chief Content Officer. The addition to one of the UAE's longest-standing English-language newspapers's leadership bench comes in an effort to keep pace with the region's rapidly changing media landscape. With a sharper focus on digital storytelling, real-time coverage, and audience engagement, Kamp's appointment aims to continue to build stronger connections with a younger, increasingly diverse readership across the GCC and MENA. Charles Yardley, Chief Executive Officer of Khaleej Times, said, 'Ted's leadership will be instrumental as we accelerate our digital transformation and expand our reach across the GCC and MENA regions. His passion for journalism and innovative thinking make him an ideal fit for Khaleej Times.' A seasoned editorial leader with over two decades of experience in media and international journalism, Kamp has built a strong track record in driving strategic growth and expanding audiences. He most recently served as Editor of Moniify in Dubai, where he led a dynamic newsroom delivering content to millennial and Gen Z audiences across the Middle East, India, and Southeast Asia. Prior to this, he also served as Managing Editor at CNBC International, overseeing EMEA and APAC editorial operations from Singapore and delivering record-breaking digital audience growth. Mohammed Galadari, Co-Chairman and Group CEO, added, 'On behalf of Khaleej Times, I warmly welcome Ted. His extensive experience and forward-looking vision will be crucial as we continue to redefine excellence in content creation. Together, we look forward to shaping the future of journalism and delivering compelling narratives that resonate with our diverse audiences.' In his new role, Kamp will lead the Khaleej Times newsroom, and has been tasked with championing the title's commitment to journalism, and spearheading innovation across editorial functions. Khaleej Times says his appointment comes at a pivotal time for the brand, which claims to be currently reaching the largest audience in its history. Readers under the age of 35 now account for 40 per cent of Khaleej Times' audience, with growth largely driven by its KT Plus platform. Commenting on his appointment, Kamp said 'It's the professional opportunity of a lifetime to join Khaleej Times, an organisation that has gained universal esteem over the years. It's not just the brand's rich heritage that excites me – it's the future. Khaleej Times stands as one of the most powerful and trusted news outlets in the most dynamic region on the planet. The editorial team holds in its hands the opportunity not only to reflect the UAE and the wider region, but to help define it. That's what inspires me.'
Zawya
29-04-2025
- Business
- Zawya
Shaikha Al-Bahar: Continuing excellence and driving innovation are key pillars of NBK's success
The government's efforts to expand the role of the private sector are set to stimulate economic activity and support the banking sector Locally, the bank remains focused on advancing digital services, diversifying its customer base, and enhancing their banking experience NBK seeks to strengthen its presence in key markets, improve operational efficiency, and pursue sustainable financing opportunities Excluding the impact of the new tax, NBK's profits in the first quarter of 2025 recorded 1% year-on-year growth The impact of the new tax regime on the Group's financial statements is transitional, with the annual effect expected to fade after 2025 We continue to focus on fee income to diversify revenue sources and reduce the impact of interest rate fluctuations Global trade war and new US tariffs heighten uncertainty surrounding future economic prospects NBK maintains an optimistic outlook for Kuwait, supported by emerging opportunities and government progress on strategic and legislative fronts We expect the operating environment to continue improving locally, with strong infrastructure spending and economic reforms In an interview with CNBC International, Ms. Shaikha Al-Bahar, Deputy Group Chief Executive Officer of National Bank of Kuwait (NBK) affirmed the Group's commitment to maintaining excellence and fostering innovation as key pillars of its success, while emphasizing the continued use of technology and data-driven strategies to seize emerging opportunities across NBK's growth markets. Al-Bahar noted that, in Kuwait, the bank remains focused on developing digital services, diversifying its customer base, and enhancing the banking experience. Internationally, NBK is working to strengthen its presence in key markets, improve operational efficiency, explore sustainable financing opportunities, and expand cross-selling activities. She further highlighted that NBK Group is reinforcing its regional leadership through NBK Wealth, focusing on the enhancement of its financial advisory and investment services. First Quarter Financial Results Commenting on NBK's financial results for the first quarter of 2025, Al-Bahar said: 'We delivered solid profit growth in the first quarter of 2025, despite the impact of the newly implemented domestic minimum top-up tax ("DMTT") of 15% on the profits of Kuwaiti constituent entities of large Multinational Enterprises ("MNEs"). This tax, rolled out in different markets in which we operate in, raised the effective tax rate to 16.3% in the first quarter of 2025, compared to 9.2% in 2024'. She explained that this led to a drop in net profits by 8.5% year-on-year, adding that excluding the impact of the new tax regime, NBK achieved a growth rate close to 1% in pre-tax profits during the first three months of 2025, supported by robust growth in lending and investment activities, in line with the bank's diversification strategy. 'The implementation of the DMTT tax system was not surprising, given that the related laws were introduced globally two years ago. We had anticipated their actual enforcement in 2025 across most of our regional markets,' Al-Bahar said. She added that while this new tax structure will have a transitional impact on the bank's quarterly financials during 2025, its impact will fade beyond this year. Al-Bahar underscored the strength of NBK's financial position, backed by a solid balance sheet, strong capitalization, high liquidity levels, robust asset quality, and a prudent approach to risk management Our NPL/gross loan ratio stood at 1.3%, while the NPL coverage ratio reached 251%. She underscored that the strong growth in non-interest income, which rose by 4.3%, helped offset the pressure on net interest income caused by lower interest rates and a shift in the asset mix. Al-Bahar added that the asset mix is expected to improve with the deployment of excess liquidity into anticipated government issuances, likely to materialize soon under the new financing and liquidity law that the market has long awaited. She emphasized that this move would enhance profit margins, as the bank continues to prioritize fee income to diversify its revenue streams and mitigate exposure to interest rate volatility. Trade War On the impact of the global trade war and geopolitical tensions in the MENA region, Al-Bahar stressed that the global economic environment remains highly volatile. She explained that, along with persistent geopolitical tensions and growing uncertainty surrounding monetary policies, the recent US tariffs have further clouded future economic prospects. Al-Bahar noted that while the region remains relatively protected due to the exemption of oil and gas exports from tariffs, the GCC economies are more vulnerable to oil price fluctuations. She added that oil price volatility is likely to persist in the short term as global economic growth projections continue to be revised downward, which in turn impacts oil demand. 'As for Kuwait, despite geopolitical tensions and the looming threat of a trade war weighing on growth prospects, we remain confident that the operating environment and overall economic performance will continue to improve, supported by sustained momentum in infrastructure spending and ongoing economic and legislative reforms.' Al-Bahar added. Commenting on NBK's exposure to risks from a potential decline in oil prices, Al-Bahar acknowledged that the level of uncertainty that prevails today, it is challenging to take a solid view of economic activity going forward, even in the region. She noted that under a scenario of reduced oil price volatility, regional GDP growth could recover, supported by steady increases in oil production, which would boost economic performance across the GCC. Optimistic Outlook Al-Bahar expressed an optimistic outlook for Kuwait, fueled by emerging opportunities and the ongoing progress of the government's strategic and legislative agenda. She highlighted that economic diversification remains a central focus, with increased support for the private sector and its active participation in driving economic growth, which will positively impact the banking sector. She conveyed her strong expectations and optimism about the country's continued positive trajectory. On the potential effects of this environment on credit demand, Al-Bahar highlighted the anticipated launch of a series of mega projects. She shared her confidence in the continued momentum of project awards, noting that this would create significant opportunities for banks and revive credit activity. In the first quarter, contract awards reached $1.3 billion, with planned awards amounting to $33 billion, representing a substantial opportunity for banks to outperform last year. Additionally, Al-Bahar pointed to the upcoming mortgage law, which is expected to facilitate home loans for customers, offering further avenues for lending. She noted that banks have strong liquidity that they hope to invest in the upcoming government issuance, particularly in alignment with the Finance and Liquidity Law. 'We are extremely optimistic and confident that the business environment will show significant improvement compared to previous years. With the IMF forecasting a 4.2% growth for the GCC economy, this presents a tremendous opportunity for all banks,' Al-Bahar explained.
Zawya
06-02-2025
- Business
- Zawya
Al-Bahar: NBK maintains a strong financial position to sustain growth into 2025
The infrastructure development agenda and project awards have accelerated as the decision-making process is simplified Our performance affirms our ability to capture growth opportunities while maintaining our high asset quality and healthy capitalization levels Ms. Shaikha Al-Bahar, Deputy Group CEO at National Bank of Kuwait (NBK) mentioned that despite the spark of geopolitical tensions, its negative consequences on the business environment and the downside cycle of interest rates, the bank managed to sustain profit trends across different business lines in 2024. In an interview of CNBC International, Al-Bahar added, 'Our resilience against challenges testifies the success of our diverse strategic initiatives in creating value to customers, communities and stakeholders alike.' Government agenda priorities Al-Bahar went on to say that on the legislative front, developments on long-awaited laws are progressing with expectations of their passing in the near future. 'On the debt law front, it remains a top priority on the government's agenda given the ever-increasing level of public spending, volatile oil revenues, and efforts to elevate sovereign ratings.' 'The government seeks to promote FDIs through increasing investment opportunities in the field of renewable energy, infrastructure, tourism and technology, as well as increasing non-oil revenues to contribute initially to 10% of total revenues; with efforts to increase this contribution to higher levels in line with GCC peers through revisions of taxes and fees frameworks and diversifying income and limiting spending and injecting government investments in the domestic economy.' 'With regards to mortgages, we witnessed some adjustments to the underlying laws for housing as an instance, which shall facilitate in part the passing of the mortgage law. Overall and in the presence of such developments, we are becoming more and more optimistic with regards to the passing of key laws including the mortgage and debt law soon as the government is clearly pushing towards structural reforms,' she added. Strong year for project awards On the pickup in development project market, Al-Bahar commented, 'Project awards positive momentum in 2024 continued in each quarter. 'The government also recently announced the inclusion of more than 100 projects in the 2025-2026 budget, covering the state's needs in various sectors at a cost of KD1.7 billion,' she explained. Innovation and excellence Al-Bahar mentioned that NBK constantly strives for excellence and innovation in all products and services provided to customers as the cornerstones of its success. 'We will continue demonstrating agility and resilience in navigating the evolving economic landscape and seizing emerging opportunities with cutting-edge technologies and data-driven strategies,' she said. 'In Kuwait, on the retail front, we will continue with improving our digital offerings towards targeting various client segments and boosting customer satisfaction.' 'With the domestic corporate banking landscape poised to improve on the back of projects activity momentum, we will focus on capturing growth opportunities including enhanced services through a customer-centric approach. Beyond borders, our international banking group will continue to expand in key markets, optimizing costs and leveraging technology to enhance operational efficiency in addition to exploring opportunities in sustainable finance,' she explained 'Likewise, as we continue to stand-out in building a wealth management powerhouse, NBK Wealth aims to broaden reach by presence and advisory and investment offerings to enrich client experience.' High adaptability Al-Bahar emphasized that NBK's adaptable business model will operationally benefit the bank in diversifying revenue streams, focus on core banking activities and mitigate risks when it comes to facing global and regional challenges. 'Our ability to adjust to changing economic conditions is demonstrated through the execution of our strategic investments and diversification of our strategy, reflecting our high asset quality, ample liquidity and a historically strong balance sheet.' 'With our global presence across 13 markets, we stood resilient in the face of challenges and the modest domestic growth and are well positioned to build on our diverse strategic agenda during 2025,' she affirmed.
