LONDON: Britain’s pandemic-hit economy is set to extend its solid recovery into next year despite strong inflationary pressures, finance minister Rishi Sunak announced yesterday as he delivered the government’s latest budget to parliament. Confirming plans for multi-billion-pound funding projects aimed at driving long-term recovery and reducing pressure on the state-run health service, Sunak added that the government was reducing state debt that soared during the pandemic.

RIYADH: Saudi Arabia could go carbon neutral before its 2060 target if technology evolves quickly enough, its energy minister said yesterday, days before the COP26 climate summit. 

KUWAIT: Kuwait Finance House (KFH) has signed an agreement with Kuwait Red Crescent Society (KRCS) to execute relief and medical projects for Syrian refugees in Jordan in cooperation with the Jordan Red Crescent Society (JNRCS). 

KUWAIT: The first edition of KPMG 2021 Kuwait CEO Outlook presents thoughts, perspectives, strategies, and concerns from 30+ CEOs in Kuwait. The survey, conducted through August and September this year, provides quantitative and qualitative insights from several market leaders across various sectors in Kuwait.

KUWAIT/DUBAI: Zain Group, a leading mobile telecom innovator in seven markets across the Middle East and Africa, announced that it has been presented with three awards at the prestigious SAMENA Council endorsed MEA Business Magazine Technology Achievement Awards 2021, in the categories of New Technology Leadership for 5G launches in Kuwait and Saudi Arabia; Innovation Collaborations and Partnerships for the launch of Zain Esports; and Ground-breaking Products and Services for the ground-breaking Fintech solution ‘Tamam’ in Saudi Arabia.

WASHINGTON: US President Joe Biden’s Democratic allies are considering imposing a tax on the wealthiest Americans, a longstanding goal of the political left that could finally be enacted to pay for a massive social spending plan. 

KUWAIT: National Investments Company (NIC) bagged the “Fastest Growing Investment Company Award” in Kuwait for the year 2021 from the International Finance Awards. This award was the culmination of the company’s remarkable efforts and outstanding performance.

FRANKFURT: Pressure is growing on the European Central Bank to respond to rising inflation in the eurozone, as its counterparts in the United States and the United Kingdom signal willingness to take action. 

KUWAIT: Al-Ahli Bank of Kuwait (ABK) reported a net profit of KD 21.1 million for the nine month period ended 30th September 2021 against a net loss of KD 7.9 million incurred in the corresponding period in 2020. EPS was at 9 fils compared to loss per share of 9 fils in 2020.