Latest news with #NationalBankofKuwait
Kuwait Times
2 days ago
- Business
- Kuwait Times
NBK holds banking awareness session at English Academy
KUWAIT: National Bank of Kuwait organized a session for the English Academy students to discuss 'Let's Be Aware' campaign to raise awareness about different popular fraud methods as well as ways to avoid them and stay secure online. During this interactive session, NBK's team presented many examples and case studies, and asked the students several questions to test their understanding. Not only did the session aim to raise awareness, but also teach students to be vigilant and one step ahead to protect their personal information. The team also gave a lot of useful advice to the students to help them avoid fraudulent actions. These included refraining from sharing any banking information or sensitive data with any person or entity, and not responding to any alleged bank-related messages or phone calls. NBK officials affirmed that the bank would never ask customers for personal information via e-mail, SMS or phone calls. The team warned students against responding to such messages, because they are fraud attempts aiming to steal banking or sensitive information. Students were reminded by the team of ways to differentiate between real and fake websites. They also advised them not to click on suspicious links whether on fake accounts on social media or e-mails that use famous logos of banks and telecommunication companies for the purpose of stealing personal information. Many other fraudulent methods were also discussed with the students, such as how some fake accounts build trust with targeted victims by giving them fake offers and appealing rewards. The team warned students against falling for such traps. On this occasion, Adnan Al-Tamimi, Digital Communications Specialist at NBK , said: 'We recognize the importance of raising awareness to fight fraud, which is why we are always keen on raising financial awareness and spreading financial knowledge among society members, including school and university students as well as elders. We also strive to come up with new ways that contribute to educating people on how to protect their financial data and accounts.' Al-Tamami added: 'NBK employs all its efforts to communicate with customers through its digital channels that are followed the most among local banks to guarantee that the objectives of 'Let's Be Aware' campaign reach the widest segment of society.' Al-Tamimi emphasized NBK's continued commitment to providing support to significant strategic campaigns that focus on benefiting society and national economy, further noting that the bank's efforts to fight fraud and educate customers is an integral part of its strategy. Introduced by the Central Bank of Kuwait (CBK), in cooperation with Kuwaiti banks and Kuwait Banking Association (KBA), the 'Let's Be Aware' campaign is the largest across the GCC region focusing on raising banking and financial awareness among bank customers. The campaign covers a variety of crucial topics, including anti-fraud tips, raising awareness on high-risk investments, maximizing benefits from banking services, promoting savings and investment culture, as well as other related topics. It is worth mentioning that NBK is a key supporter and partner in all CBK's campaigns and initiatives to increase financial and banking awareness among different sectors. As the leading financial institution in Kuwait, the bank frequently organizes various activities to raise awareness on all topics related to the banking sector.
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
Wall Street futures climb as federal court rules against Trump's tariffs
May has been a solid month for equities, with both the S&P 500 and the Nasdaq on pace for their best monthly performances since November 2023. (EPA Images pic) NEW YORK : Wall Street futures climbed today after a US trade court blocked most of President Donald Trump's proposed tariffs, while AI bellwether Nvidia's stronger-than-expected quarterly revenue added to the upbeat mood. Nvidia jumped over 6% in premarket trading after reporting 69% quarterly sales growth, driven by customers stockpiling AI chips ahead of US export restrictions to China. The company, however, warned that the new curbs are expected to cut US$8 billion from current-quarter sales. Other chipmakers rose in the wake of Nvidia's results, with Advanced Micro Devices gaining 3%. The VanEck Semiconductor ETF advanced 3.2%. Global risk appetite was also buoyed after a US court invalidated with immediate effect most of Trump's sweeping levies imposed since January, but did not address some industry-specific tariffs on automobiles, steel and aluminium. 'This ruling is a key development, and it will weaken Trump's bargaining power in his ongoing negotiations with the US' key trading partners,' National Bank of Kuwait analysts said in a note. 'If the ruling is sustained, it will be a major positive development for the US and the global economy,' analyst said. However, the decision can be appealed to the US court of appeals for the Federal Circuit in Washington, DC, and potentially to the US Supreme Court. At 7.06am, Dow E-minis were up 205 points, or 0.49%, S&P 500 E-minis were up 64.25 points, or 1.09%. Nasdaq 100 E-minis were up 345.5 points, or 1.62%. Futures linked to the economically-sensitive Russell 2000 small-cap index also ticked up 1.07%. Apple, which was hit with a threat of tariffs from Trump last week, led gains among megacap and growth stocks with a 2.4% jump. Meta Platforms rose 1.5%, while shares of Alphabet added 1.3%. The S&P 500 is currently about 4% below an all-time high touched on Feb 19, having rebounded from a nearly 19% decline earlier in April, supported by easing trade tensions, strong earnings, and subdued inflation data that boosted risk appetite. May has been a solid month for equities, with both the S&P 500 and the Nasdaq on pace for their best monthly performances since November 2023. Minutes from the US Federal Reserve's (Fed) latest policy meeting, released yesterday, indicated that policymakers acknowledged they could face 'difficult tradeoffs' in coming months in the form of rising inflation alongside rising unemployment. Later in the day, the second estimate for first-quarter GDP will be released at 8.30am and personal consumption expenditure data is slated for Friday. At least five Fed policymakers including Fed board governor Adriana Kugler are scheduled to make public remarks through the day. In other earnings, HP Inc shed nearly 9% after the PC maker cut its annual profit forecast. Best Buy dropped nearly 3% after the electronics retailer lowered its annual sales forecast.
Reuters
3 days ago
- Business
- Reuters
US stock futures climb as federal court rules against Trump's tariffs
May 29 (Reuters) - Wall Street futures climbed on Thursday after a U.S. trade court blocked most of President Donald Trump's proposed tariffs, while shares of AI chipmaker Nvidia gained following stronger-than-expected quarterly revenue. The Court of International Trade ruled that the U.S. Constitution grants Congress exclusive authority to regulate commerce with foreign nations — a power not superseded by the president's emergency powers to protect the U.S. economy. "This ruling is a key development, and it will weaken Trump's bargaining power in his ongoing negotiations with the U.S.' key trading partners," National Bank of Kuwait analysts said in a note. "If the ruling is sustained, it will be a major positive development for the U.S. and the global economy." The court invalidated with immediate effect all of Trump's orders on tariffs since January that were rooted in the International Emergency Economic Powers Act (IEEPA). However, the decision can be appealed to the U.S. Court of Appeals for the Federal Circuit in Washington, D.C., and potentially to the U.S. Supreme Court. At 04:07 a.m. ET, Dow E-minis were up 554 points, or 1.31%, S&P 500 E-minis were up 102.25 points, or 1.73% and Nasdaq 100 E-minis were up 460 points, or 2.15%. Shares of Nvidia (NVDA.O), opens new tab were up 5.4% in premarket trading after the world's most valuable semiconductor firm beat estimates for first-quarter sales, driven by customers stockpiling AI chips ahead of U.S. export restrictions to China. The company, however, warned that the new curbs are expected to cut $8 billion from current-quarter sales, causing its second-quarter forecast to miss expectations. Other chipmakers rose in the wake of Nvidia's positive earnings, with Advanced Micro Devices (AMD.O), opens new tab gaining 3.3%. The VanEck Semiconductor ETF (SMH.O), opens new tab advanced 3.4%. Apple (AAPL.O), opens new tab led gains among megacap and growth stocks with a 3.6% jump. Meta Platforms (META.O), opens new tab and Alphabet (GOOGL.O), opens new tab each climbed more than 2%. Dow (.DJI), opens new tab component Salesforce (CRM.N), opens new tab gained 2.3% after the enterprise software provider raised its annual revenue and adjusted profit forecasts. Futures linked to the economically sensitive Russell 2000 small-cap index also surged 2.3%. May has been a solid month for equities, with both the S&P 500 (.SPX), opens new tab and the Nasdaq (.IXIC), opens new tab on pace for their best monthly performances since November 2023. The S&P 500 is currently about 4% below an all-time high touched on February 19, having rebounded from a nearly 19% decline earlier in April, supported by easing trade tensions, strong earnings, and subdued inflation data that boosted risk appetite. Minutes from the U.S. Federal Reserve's latest policy meeting, released on Wednesday, indicated that policymakers acknowledged they could face "difficult tradeoffs" in coming months in the form of rising inflation alongside rising unemployment. Later in the day, the second estimate for first-quarter GDP will be released at 8:30 a.m. ET and Personal Consumption Expenditure data is slated for Friday. At least five Fed policymakers including Fed Board Governor Adriana Kugler are scheduled to make public remarks through the day. Among the early movers, HP Inc (HPQ.N), opens new tab shed 8.5% after the PC maker cut its annual profit forecast.
Zawya
3 days ago
- Business
- Zawya
Boubyan Bank US$ 5year sukuk IPTs T+130bp area: IFR
Boubyan Bank is marketing a US dollar five-year sukuk at initial price guidance of Treasuries plus 130bp area. Boubyan Sukuk is the issuer and Boubyan Bank the obligor. The Reg S senior deal will be rated A by Fitch. The obligor, rated A2/A/A, is 60.4% owned by National Bank of Kuwait. Citigroup, HSBC and Standard Chartered Bank are joint global coordinators, as well as lead managers with Bank ABC, Boubyan Capital, Dubai Islamic Bank, KFH Capital, KIB Invest, SMBC, The Islamic Corporation for the Development of the Private Sector and Warba Bank.
Channel Post MEA
3 days ago
- Business
- Channel Post MEA
Salesforce Showcases AI-powered Digital Labour
Salesforce showcased the transformative potential of AI-enabled digital labour for organisations in the Middle East at Agentforce World Tour Dubai, held at Madinat Jumeirah today. Salesforce brought together more than 3,000 delegates for the event, including customers, partners, and associates, demonstrating the fast-growing interest and strong demand for digital labour solutions that can help drive efficiency and transformation for organisations across all sectors. Keynote speakers included Salesforce's Marco Hernansanz, executive vice president & CEO Southern Europe, Middle East and Africa; Mohammed Alkhotani, senior vice president and general manager, Middle East; Maha Alaoui, head of solution engineering, MEA; Polly Summer, Chief Adoption Officer; and Olfa Kharrat, director of product management for AI and Agentforce. The speakers shared insights about the company's strategy and how its latest innovations in AI, data and CRM are helping customers transform. Delegates gained insights into how organisations are transforming with Salesforce solutions including Agentforce, Data Cloud and Customer 360 to drive success on a unified, trusted platform. Keynotes and presentations, including by Salesforce's customers and partners, covered the role of AI in sectors such as retail, real estate, travel, automotive, and manufacturing. They also explored using Data Cloud to create a trusted foundation for Agentforce, how to make the leap from 'good to great' customer experience, and how organisations can grow their team's AI experience. More than 15 customers from across the region participated in the event, demonstrating transformative use-cases that illustrate how they have transformed key aspects of their operations with Salesforce. National Bank of Kuwait revealed how it has leveraged data in Tableau to uncover insights, drive smarter decisions, and enhance business performance. In a session titled, 'Transforming Education with AI & Automation', Aldar Education, a leading education group in Abu Dhabi, discussed its partnership with Publicis Sapient to digitize student services, streamline admissions, and enhance parent engagement using AI-powered automation. Meanwhile, French energy group Engie, which has operations around the world including a regional HQ in Dubai, demonstrated how it used a tailored Salesforce Cloud solution to transform its renewable energy sales in Poland. Other companies presenting at the event were: Al Tayer, MAF Retail LLC, Zulekha Hospital, Ducab, Raiffeisen Bank International AG, Red Sea Global, and Marhaba. The potential of Agentforce and digital labour to transform operations featured prominently with sessions focused on private and public sector transformation, particularly the delivery of citizen services, and real estate, where Salesforce is helping customers optimise sales processes and enhance productivity to deliver a better experience for buyers and sales teams. Mohammed Alkhotani said that AI and digital labour will play an increasing role in enabling organisations to raise efficiency while innovating, improving customer service, and supporting national visions. 'Organisations in the Middle East are keen to leverage AI to transform their operations and thrive amid tough competition,' Alkhotani said. 'Customers want to tap growth opportunities and support national visions – yet many are understandably perplexed by AI and how to deploy it effectively. Today's event offered the ideal opportunity to showcase the power of Agentforce to transform organisations with autonomous AI agents that complement human employees, while delivering new levels of efficiency and customer experience.' With AI skills vital to the success of digital transformation within organisations, Salesforce recently partnered with Chalhoub, the Dubai-based luxury goods retailer and distributor, to create a training program to empower women at the company. The Chalhoub x Salesforce Women in Tech Leadership & Innovation Program was themed 'Women Driving Digital Innovation: AI, Data, and Cloud for the Future', and more than 60 participants graduated during Agentforce World Tour having completed a rigorous four-week course. The program focused on areas including technology and leadership; customer centricity; diversity, equity and inclusion; and future skills and career growth. Representatives from Chalhoub and Salesforce delivered a keynote at Agentforce World Tour to spotlight the program's successes in empowering women to spearhead digital leadership. Salesforce is well positioned to support transformation efforts in the UAE and the wider region after establishing a new office in the UAE in October 2024 and committing to invest $500m in Saudi Arabia earlier in the year. Organisations are keen to deploy AI, but don't necessarily have all the know-how and tools to do so effectively. Nearly half of customer service teams, over two-fifths of salespeople, and a third of marketers say they've fully implemented AI to augment their work, yet 77% of business leaders cite nagging issues around trusted data and ethics that could grind their deployments to a halt, according to Salesforce's most recent Trends in AI for CRM report. Meanwhile, organisations in the UAE increasingly recognise the need for AI-based solutions to liberate human employees from the repetitive, mundane tasks that often reduce productivity. With sales reps in the UAE spending an average of just 27% of the workweek connecting with customers, organisations see AI as a potential solution – 75% of sales teams in the UAE have either fully implemented AI or are experimenting with the technology, according to Salesforce's most recent State of Sales report. This indicates pent-up demand for solutions that offer to simplify effective AI deployments. 0 0
