WASHINGTON: Germany and Italy will slip into recession next year, becoming the first advanced economies to contract in the wake of Russia’s invasion of Ukraine, an IMF forecast showed on Tuesday.

KUWAIT: Boubyan Bank has made a new achievement by being named the “Best Bank for CSR” by Euromoney International, in recognition of its achievements over the past years as well as its sustainable CSR role which contributes to Kuwait’s journey of development and growth.

KUWAIT: Kuwait Economic Society (KES) hosted a seminar titled ‘Real Estate Inflation and Ways to Confront It’ on Monday.

Kuwait: Zain, the leading digital service provider in Kuwait, announced the successful completion of 5G Two Carrier Aggregation (2CC) test, accomplishing a high data download speed of 2.5Gbps.

BERLIN: A price cap to reduce soaring German energy costs following Russia’s invasion of Ukraine should come into force next year with additional help provided beforehand, a government-appointed commission recommended Monday.

PARIS: The Algerian and French prime ministers on Monday hailed a “new dynamic” as they launched a joint economic forum during a visit to Algiers by France’s Elisabeth Borne.

STOCKHOLM: A US trio on Monday won the Nobel Economics Prize for research on banking’s role in the economy, especially on the importance of avoiding collapses during financial crises.

Kuwait: Lord Mayor of London Vincent Keaveny said UK relations with Kuwait are “long-standing” through cooperation that dates far back, particularly on the economic, financial and investment-related spectrums.

NEW YORK: A US judge suspended litigation in the saga over Elon Musk’s proposed $44-billion takeover of Twitter, giving the parties until October 28 to finalize the on-again, off-again megadeal.