Kuwait

World Bank: GCC growth projected at 1.6 percent in 2024, 4.2 percent in 2025-2026

UAE's economic growth is projected at 3.3 percent in 2024, driven by 4.1 percent non-oil sector growth 

Boursa Kuwait net profits up 14.5 percent to $47.08 million in first nine months of 2024

Consolidated assets increased 4.34 percent from $372.05 million in 2023 to $388.21 million in the nine months ended September 30

FII8: NBK’s Shaikha Al-Bahar spotlights role of AI, fintech in driving banking growth

The future of banking will be defined not by head-to-head competition with fintech companies, but by cooperation

Sheikh Hamdan bin Mohammed concludes official visit to Kuwait

The discussions highlighted the significant advancements in cooperation, bolstered by the leadership of both nations

Mastercard, Amazon Payment Services to enable digital payment acceptance across Middle East and Africa

The payment service provider will use Mastercard Gateway for quick, seamless, and secure transactions in the region

Kuwaiti investments in Egypt surpass $20 billion

Efforts are underway to organize the joint trade committee between the two countries as soon as possible

Kuwait Central Bank issues bonds, tawarruq worth $792 million

These issuances have a maturity period of three months, with a yield of 4.375 percent 

Kuwait-India non-oil trade surpassed $2 billion in 2022, says Chamber

The Chamber highlighted that Kuwait and India's relationship extends beyond business due to their historical ties

Kuwait Central Bank issues bonds, tawarruq worth $792 million

On August 19, KCB announced a similar allocation of bonds and tawarruq for three months at the same value and return rate 

GCC banks well positioned to continue strong run in 2024: Report

The report stated that high interest rates kept profit margins at 2.7 percent, with strong bank profitability in H1

UAE, Kuwait strengthen bilateral ties with MoUs on standardization, infrastructure, and cybersecurity

Other notable agreements included collaboration in communications and information technology

UAE oil imports to Japan reach 31.07 million barrels in July 2024, 49.1 percent of total

Arab oil made up 97.8 percent of Japan's imports, totaling 61.92 million barrels

Kuwait Warba Bank’s $500 million sukuk issuance on London Stock Exchange draws $1.8 billion in 3.5x demand

These five-year sukuk support projects advancing ESG goals aligned with sustainability objectives

GCC listed banks post record $14.8 billion net profit in Q2 2024

Year-over-year, the growth was robust at 9.2 percent compared to Q2 2023

Kuwait’s wholesale prices rise 2.1 percent in June, led by surge in cost of domestic goods: Report

The June wholesale price index rose 2.1 percent year-on-year to 149.2 from 146.2 in June 2023

QatarEnergy, KPC ink 15-year deal to supply up to 3 MTPA of LNG to Kuwait

The contracted LNG volumes will be delivered ex-ship to Kuwait's Al-Zour LNG Terminal using QatarEnergy's LNG vessels starting in January 2025.

Kuwaiti banks turn to M&A amidst strong fundamentals: Report

The paper noted that banks in Kuwait have strong capital and liquidity despite growth constraints

Abu Dhabi Chamber sees 23.8 percent year-on-year growth in certificates of origin

This growth underscores the chamber's efforts to boost trade opportunities and enhance the UAE's international trade footprint

GCC’s aviation sector soars as a key economic driver 

Robust infrastructure, strategic location vital to the growth of the industry and the region’s economy

UAE IPOs surge in Q2 2024, raising $890 million: Report

Sharia-compliant financial products are in high demand, with Sukuk issuances exceeding $10 billion in Q2

Resilient MENA IPO market generates $2.64 billion in Q2 2024, set for strong remainder of year: Report

Q2 global IPO activity experienced 15 percent drop in offerings and 31 percent decline in proceeds

GCC, Indonesia initiate talks for comprehensive deal to boost trade and investment

The proposed agreement aims to enhance cooperation, streamline investment regulations, and create new jobs

Kuwait’s real estate market reports $300.86 million in transactions, 14 percent rise week-over-week

The surge is equivalent to an additional KWD13 million compared to the previous week's trading value of KWD79 million 

Kuwait sees deficit of $5.23 billion in FY 2023/24 despite non-oil revenue growth

The country's total revenue in fiscal year 2023-2024 was KWD23.645 billion