WASHINGTON, June 12 (KUNA) - The US Federal Reserve maintained Wednesday the targeted range of the benchmark interest rate unchanged between 5.25 percent and 5.5 percent, for the seventh straight policy meeting, as inflation remains elevated.

KUWAIT: National Bank of Kuwait (NBK) participated as a platinum sponsor of ENCON4 Forum of Major State Development Projects, organized by the Kuwaiti Federation of Engineering Offices and Consultant Houses (KFEOCH), in cooperation with the General Secretariat of the Supreme Council for Planning and Development (SCPD), and Kuwait Direct Investment Promotion Authority (KDIPA), under the motto “Transparency, Achievement, and Sustainability, Principles of the New Era.”

KUWAIT: Deliveroo Kuwait launched ‘Deliveroo Shopping’, a new online retail offer which will bring consumers a world of retail options on-demand, alongside its existing restaurant food and grocery offering. This expansion comes in response to a notable surge in demand for non-food items on the platform.

BERLIN: In a rare move, the European Central Bank last week beat the US Federal Reserve to the monetary policy easing punch when it cut interest rates for the first time in nearly five years.

KUWAIT: Burgan Bank announced that Moody’s Ratings (Moody’s) has affirmed its long-term local and foreign currency bank deposit ratings at “Baa1” with a stable outlook and its short-term local and foreign currency bank deposit ratings at “P-2”.

PARIS: The world is likely to have a major surplus of oil by 2030 as production is ramped up while the clean energy transition tempers demand, the International Energy Agency said Wednesday.

BRUSSELS: The European Union threatened on Wednesday to hit Chinese electric car imports with additional tariffs of up to 38 percent from next month following an anti-subsidy probe, a move that risks triggering a trade war.

VIENNA: Without funding from Japan, many of Australia’s gas projects wouldn’t have gone ahead.

BERLIN: In two years’ time, a massive hole in the heart of Berlin will become the German capital’s biggest reservoir, capturing an increasingly precious resource—water.