Business briefing: 24 Oct 2013

Kuwait is trying to persuade Saudi Arabia to take up the UN Security Council seat that Riyadh has spurned in protest at the world body's failure to end the war in Syria, a senior Kuwaiti official said on Wednesday.

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Qatar National Bank, the largest listed lender in the Gulf Arab world, said it raised $1.5 billion from a two-part bond sale, underscoring investor demand for debt offerings from top-tier names in the region.

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The minimum capital requirement for insurance companies in Lebanon should be raised to at least $10 million to improve the efficiency of the sector and encourage consolidations among firms, the president of the Lebanese Insurance Association has said.

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Wataniya, Kuwait's No.2 telecom operator, reported a slight drop in third-quarter profit on Thursday, missing analysts' estimates.

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