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Kuwait
Economy
Kuwait: Local agent requirement lifted for foreign companies, public tenders law revamped
With overwhelming support of 57 votes in favor and only one vote against
Kuwait
COP28: Kuwait’s EnerTech launches innovative end-to-end electric mobility platform in the UAE
CHRGR's launch introduces UAE's first fully integrated electric mobility solution
Banking & Finance
Kuwait’s Central Bank releases $776 mn worth of bonds
For a 3-month period with a return rate of 4.375 percent
Economy
Kuwait approves Fourth Master Plan 2040, targeting 4 regions
Oil remains focus for 2030-2040
Kuwait
Kuwait’s ministry of finance recovery efforts post major ransomware attack
Saudi, UAE hit hardest by ransomware attacks in 2021-2022
Economy
Kuwait inflation rate rises to 3.82 percent in August
Food and beverage group prices up 5.70 percent
Banking & Finance
Kuwaiti banks expected to witness high profitability, low NPLs
Financing benefits from strong domestic deposit base
Hospitality & Tourism
Kuwait awards Limak $764 million airport terminal contract
The new airport terminal is expected to cost $4.34 billion
Energy
Kuwait is outlaying nearly $6 bn to boost oil output to 3.5 mn bpd
High crude prices, today reaching $90, boosted KOC’s assets to $55 bn
Energy
Kuwait’s capital spending for oil projects jumps 95 percent
In bid to boost oil production capacity
Economy
Kuwait new amendment frees foreign firms from local sponsorship rule
Proposal enhances competition, service quality in the state
Economy
Kuwait economy recovers, boost in tourism predicted
Country is also poised to enjoy sustained non-oil growth
Economy
Kuwait’s expat labor force up by 7.5 percent in H1 2023
Over 30 percent of Kuwait’s new labor force entrants are Indians
Economy
IMF: Kuwait’s GDP will slow down to 0.1 percent in 2023 from 8.2 percent in 2022
Sbstantial risks to the country’s economic prospects
Hospitality & Tourism
MENA airlines investing in Airbus carriers amidst tourism surge
The airline's profit for the first half of 2023 reached $21 million
Energy
Kuwait is Qatar’s primary supplier of ship fuel
Kuwait has sent 3 million barrels of fuel oil to Qatar in 2023
Economy
Kuwait most affordable city in the world, survey says
The average cost of living is nearly $753
Economy
Development spending in Kuwait amounted to 665.1 mn dinars in FY22-23
Representing 50.8 percent of the 1.3 bn dinars budget allocated to 128 projects
Hospitality & Tourism
Kuwait Airways witnesses 30 percent increase in revenues
Flight departures increased 33 percent, indicating a higher level of operational efficiency.
Banking & Finance
Kuwait reports first budget surplus in 9 years
Budget surplus of 6.4 billion Kuwaiti dinars, amounting to $20.86 billion
Hospitality & Tourism
Kuwait seeking to have Schengen visas be streamlined, extended for nationals
UAE nationals are exempted from needing a Schengen visa for short trips
Hospitality & Tourism
Kuwait Airways rolls out seat upgrade plans
For better passenger experience
Energy
Kuwait aims to increase oil production
Kuwait aims to solidify its position as one of the top producers within OPEC
Economy
Ciyada Fund: Kuwait’s latest sovereign initiative to spearhead domestic investments
Fund to launch major projects via private sector partnerships
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