KUWAIT, Dec 14 (KUNA) --- The exchange rate of the US Dollar against the Kuwait Dinar fell on Thursday to KD 0.307, while the exchange rate of the Euro was up to KD 0.355 compared to Wednesday.

KUWAIT: Al-Eid Foods Company announced on Wednesday, in a press conference organized at its executive office, the signing of a contract to purchase 99 percent of the capital shares of Al-Ashraf Foods Company, owned by Dalqan Holding Group, and the completion of its acquisition deal for the value of KD 20 million and 500 thousand, in parallel with the success of its public offering to increase Aleid Foods Company’s capital, authorized, issued and paid, from KD 18,617,287.200 to KD 30,331,572.900 through the issuance and allocation of 117,142,857 ordinary shares at the offering price of 175 fils (one hundred and seventy-five Kuwaiti fils) per share.

BUENOS AIRES: Argentina devalued its currency by more than 50 percent Tuesday in a set of “shock” measures aimed at reviving a crumbling economy and tackling triple-digit inflation.

WASHINGTON: The International Monetary Fund revived its $2.9 billion bailout for Sri Lanka on Tuesday after the South Asian nation clinched a debt restructuring deal with China, its biggest official lender.

KUWAIT: Gulf Bank was honored with the prestigious “Best Prepaid Card Program in Kuwait” award for 2023 during the Mastercard MENA East Business Forum, held recently in Dubai. The ceremony, attended by numerous leaders in the regional banking industry, celebrated Gulf Bank’s outstanding achievements.

DUBAI: The proud president of COP28 had no time left to lose. After two nights of fraught final negotiations, it took just five minutes for Sultan Al-Jaber, with the nervous bang of his gavel, to adopt a historic deal calling for a transition from fossil fuels.

DUBAI: Sultan Al-Jaber, the UAE oil chief who headed COP28 in Dubai, promised that this year’s UN climate talks would be “different”.

WASHINGTON: The Zionist entity war on Gaza is having a severe impact on the Palestinian economy, the World Bank said on Tuesday, adding that a sharp economic contraction is likely this year and next.

RIYADH, Dec 13 (KUNA) - The International Monetary Fund picked Wednesday Saudi Minister of Finance Mohammed Aljadaan to chair the International Monetary and Financial Committee (IMFC) for a term of three years, effective January 4, 2024.