Kuwait Lifts 8-Year Debt Break with New Financing Law

This law offers Kuwait greater financial flexibility by enabling it to access domestic and global financial markets to increase its liquidity management. Kuwait can now borrow funds from international markets after an eight-year break. Kuwait will rejoin …

Kuwait Eyes Return to Debt Markets to Fund Diversification From Oil

Kuwait has approved a financing and liquidity law that will allow one of OPEC’s top producers to return to the debt market after eight years, with borrowing expected to fund projects to diversify its dependence on oil revenues. While the other OPEC Gulf …

Kuwait's tailors face shifting trends

Inside a small tailor shop in a residential area, dozens of bags filled with dresses and abayas sit in a messy heap near the counter, waiting to be claimed. A single sewing machine hums in the corner, where a tailor leans forward, guiding a piece of cloth …

Kuwait’s economic overhaul fuels optimism for growth

There’s optimism in Kuwait, buoyed by a sweeping legal and regulatory overhaul since Emir Sheikh Meshal Al-Ahmad dissolved Parliament in May. Stocks are up 10% this year, the sovereign wealth fund has surpassed the $1 trillion mark in assets under …

Kuwait: 6 remanded as inquiry into raffle fraud expands

Searching the suspects’ residences yielded a cache of valuables, including gold bracelets and necklaces, watches, luxury pens, and cash suspected of being linked to the fraud at the centre of the inquiry, according to prosecutors.

Kuwait curbs expat employment in public sector

Kuwait: KPC declares LNG prices for April

KUWAIT: The Kuwait Petroleum Corporation (KPC) announced on Thursday the new prices of liquefied natural gas (LNG), propane and butane, for April. Speaking to KUNA in a statement, the corporation said a propane metric ton would be sold for USD 615 during …

Kuwait oil price up 14 cents to USD 77.54

KUWAIT: Kuwaiti oil price increased 14 cents to reach USD 77.54 per barrel during Thursday's trading compared to Wednesday's USD 77.4, reported Kuwait Petroleum Corporation (KPC) on Friday. In global markets, Brent Crude rose 24 cents to USD 74.03 …

Kuwait tries to kickstart diversification away from oil

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Wealthy Gulf nation Kuwait is set to borrow for the first time in almost a decade, raising hopes that the petrostate will pursue an …

Body of Filipina maid found in freezer flown home from Kuwait

The body of a Filipino housemaid found stuffed in a freezer in Kuwait was flown home to her grieving family on Friday, focusing attention on the plight of millions of mostly poor Filipinos toiling abroad. As Joanna Daniela Demafelis' remains were …