Business
ICAIKC Hosts CPE Event on ‘Global Economic Challenges and Governance: A Finance Focus’
KUWAIT CITY, April 29: The Institute of Chartered Accountants of India, Kuwait Chapter (ICAIKC) hosted the Continuing Professional Education (CPE) event on “Global Economic Challenges and Governance: A Finance Focus.” The event attracted a strong turnout from the professional community, driven by the relevance of its theme and the insights offered by a distinguished panel of international experts.
CA Aditya Dhanuka, Chairperson of ICAIKC, formally inaugurated the event by welcoming the distinguished speakers and participants. He also provided an update on ongoing chapter initiatives and highlighted the vital role that accounting professionals play in shaping ethical, transparent, and resilient economic systems. His remarks set the tone for an evening of meaningful dialogue and knowledge exchange.
Esteemed Speakers Share Global Perspectives
The event featured a stellar lineup of speakers, each of them bringing distinct global insights into the discussion:
Jean Bouquot, President of the International Federation of Accountants (IFAC), delivered a compelling keynote on the evolving dynamics of the global economy. Drawing on IFAC’s policy work, he emphasized the importance of resilience, adaptability, and governance reforms in both public and private institutions. He highlighted sustainability related developments globally and the need to counter greenwashing. He also underscored the need for global collaboration among accounting bodies to foster sustainability, ethical conduct, and trust in financial systems.
Mona El Chami, Senior Governance Specialist at the World Bank, provided a policy-oriented lens on governance frameworks across developing economies. She elaborated on the World Bank’s role in advising governments on fiscal accountability, anti-corruption measures, and institutional strengthening. Her talk highlighted the interconnectedness of sound governance and economic stability, advocating for inclusive institutions and transparent policymaking.
CA Atul Gupta, Past President of ICAI and current IFAC Board Member, offered a strategic analysis of how global economic trends are impacting India and other emerging markets. He spoke about the transformational role of technology in governance, the rise of digital public infrastructure, the essentiality of independent director, and the need for ethics-driven assurance practices. His address called on Chartered Accountants to balance profit with sustainability and to take the lead in promoting good governance.
The session was further enriched by the presence of special guests:
Prof. Shahzad Uddin (University of Essex), Prof. Musa Mangena (University of Nottingham), Mr. Sabah Mubarak Al Jalawi (Chairman, KAAA), Mr. Mohammad Shuaib (Member, KAAA), Dr. Souod Alazemi (Faculty Member, PAAET), and Mr. Ahmed Bastaki, whose participation added academic and regulatory depth to the discussions.
The event was seamlessly moderated by CA Ketan Puri, whose professionalism and engaging style ensured a smooth and insightful program. The event concluded with a warm vote of thanks by CA Andaleeb Girkar, who expressed heartfelt appreciation to the speakers, special guests, attendees, and organizing committee. She also extended gratitude to the chapter’s annual sponsors—NBK, Al Mulla Exchange, and Cube Innovators—as well as media partners IndiansinKuwait.com (IIK), Times Kuwait, and Arab Times for their continued support.
The event reinforced ICAIKC’s dedication to fostering ongoing professional excellence and promoting dialogue on globally relevant economic and governance challenges. It served as a valuable platform for knowledge sharing and reinforced the chapter’s mission to equip finance professionals in Kuwait with world-class insights and expertise.
Shaikha Al-Bahar
Deputy Group Chief Executive Officer (CEO) of the National Bank of Kuwait (NBK)
KUWAIT CITY, May 20, (Agencies): Deputy Group Chief Executive Officer (CEO) of the National Bank of Kuwait (NBK) Shaikha Al-Bahar is the only Kuwaiti who made it to the 2025 100 Most Powerful Women in Business List that Fortune released on Tuesday. The list consists of a hundred influential businesswomen in the finance, technology, health care, telecom, retail, energy and other industries.
In 1977, Al-Bahar joined NBK, where she proved her leadership capabilities as she rose through the ranks over the years. At present, she is the only woman in the executive management team of the bank. She currently heads NBK-France and Egypt; in addition to her post as board member of NBK (International) — the subsidiary of the bank in the United Kingdom. Al-Bahar was the brain behind the launching of NBK RISE, a program that aims to empower women leaders and train them within nine months to assume leadership posts.
NBK is one of the largest financial institutions in Kuwait and one of the leading banks in the region. The total value of its assets as at the end of March reached more than $135 billion. Group CEO of First Abu Dhabi Bank in the United Arab Emirates Hana Al-Rostamani joins Al-Bahar as the only two women from the Gulf on the list, ranking 76th and 92nd respectively. The Fortune editors compiled the list based on company size and health; in addition to an executive’s career path, influence, innovation, and efforts to make business better.
The 2025 list includes 52 women from the United States of America and 48 from other countries as follows: eight from China; seven each from France and the United Kingdom; three each from Germany, Singapore and Brazil; two each from Australia, Hong Kong, Japan and Spain; and one each from Kuwait and the United Arab Emirates. Chief Operator at Costco and merchant Claudine Adamo, who ranked 43rd, is one of 16 newcomers. She helped millions of Americans navigate inflation by keeping prices low on essentials, and the next-gen execs such as ByteDance CFO Julie Gao (81st), who steered the finances of the TikTok owner through its tangles with the US government.
Following are the top 10 Most Powerful Women in Business in 2025:
1. Mary Barra, Chair and CEO, GM (U.S.)
2. Julie Sweet, Chair and CEO, Accenture (U.S.)
3. Jane Fraser, CEO, Citigroup (U.S.)
4. Lisa Su, Chair and CEO, AMD (U.S.)
5. Ana Botín, Executive Chairman, Banco Santander (Spain)
6. Tan Su Shan, Deputy CEO and Group Head of Institutional Banking, DBS Group (Singapore)
7. Thasunda Brown Duckett, President and CEO, TIAA (U.S.)
8. Marta Ortega, Chairperson, Inditex (Spain)
9. Abigail Johnson, Chairman and CEO, Fidelity Investments (U.S.)
10. Meng Wanzhou, Deputy Chairwoman, Rotating Chairwoman, and CFO, Huawei (China)
The stock prices of Contemporary Amperex Technology Co. (CATL) is displayed at the listing ceremony in Hong Kong on May 20. (AP)
BEIJING, May 20, (AP): Asian shares rallied Tuesday after China cut key interest rates to help fend off an economic malaise worsened by trade friction with Washington. Shares in China’s CATL, the world’s largest maker of electric batteries, jumped 17.2% in its Hong Kong trading debut after it raised about $4.6 billion in the world’s largest IPO this year.
Its shares traded in Shenzhen, mainland China’s smaller share market after Shanghai, gained 1.2% after dipping earlier in the day. The Reserve Bank of Austalia reduced its benchmark interest rate by a quarter percentage for a second time this year, to 3.85%, judging inflation to be within its target range. The earlier reduction, in February, was Australia’s first rate cut since October 2020.
The future for the S&P 500 lost 0.4% while that for the Dow Jones Industrial Average was 0.2% lower. In early European trading, Germany’s DAX edged 0.1% higher to 23,954.16 while the CAC 40 in Paris climbed 0.2% to 7,897.13. Britain’s FTSE 100 rose 0.3% to 8,723.97. China’s central bank made its first cut to its loan prime rates in seven months in a move welcomed by investors eager for more stimulus as the world’s second largest economy feels the pinch of Trump’s higher tariffs.
The People’s Bank of China cut the one-year loan prime rate, the reference rate for pricing all new loans and outstanding floating rate loans, to 3.00% from 3.1%. It cut the 5-year loan prime rate to 3.5% from 3.6%. With China’s chief concern being deflation due to slack demand rather than inflation, economists have been expecting such a move.
Data reported Monday showed the economy under pressure from Trump’s trade war, with retail sales and factory output slowing and property investment continuing to fall. Tuesday’s cuts probably won’t be the last this year, Zichun Huang of Capital Economics said in a report. “But modest rate cuts alone are unlikely to meaningfully boost loan demand or wider economic activity,” Huang said. Hong Kong’s Hang Seng gained 1.4% to 23,659.70 early Tuesday, while the Shanghai Composite index advanced 0.4% to 3,380.48.
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