MPs affirmed the need to allow the oil sector to rely on other oil-related substances to create a multi-income sources
Kuwait government
Kuwait government
Kuwaiti Crown Prince to temporarily assume some of Ruler’s duties
Emir Sheikh Nawaf Al-Ahmed Al-Jaber Al-Sabah, who is 84, has periodically been traveling abroad on private trips that are widely known to have involved medical treatment
Kuwait economy
Kuwait cabinet quits in step toward ending political impasse
Resignation, received by Emir Sheikh Nawaf Al-Ahmed Al-Sabah, had been expected after several rounds of talks between feuding government officials and opposition lawmakers
Emir of Kuwait
Kuwaiti ruler makes unprecedented call for dialogue amid impasse
Emir’s initiative follows years of political tensions that have stymied efforts to diversify the country’s oil-reliant economy and promote foreign investment
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budget deficit
Kuwaiti ministries to limit public spending amid steps to address budget deficit
Call to contain costs of local and internationally-held functions and exhibitions, travel expenses relating to overseas training, foreign missions and medical treatment for nationals
Future Generations Fund
Kuwait names new wealth fund board after three-month delay
The conflict had complicated the Kuwait Investment Authority’s ability to make major decisions, even though the finance minister – as its chairman – can decide on important issues
budget deficit
Kuwait approves $76bn state budget with focus on job support
The 2021-2022 state budget estimates a revenue of $36bn for the fiscal year that began on April 1
budget deficit
How Kuwait’s $600 billion wealth fund got caught in political crossfire
The Kuwait Investment Authority, the world’s oldest state investment vehicle, has been in limbo since its board’s tenure expired two months ago
Future Generations Fund
Kuwait hasn’t renewed wealth fund’s board since term expired
The Kuwait Investment Authority is the world’s oldest sovereign fund – and one of the largest – with has stakes in ports, airports and power distribution systems around the world
Central Bank of Kuwait
Kuwait must address trio of ‘imbalances’ to achieve economic stability and sustainability
Central Bank of Kuwait governor Dr Mohammad Y. Al-Hashel said serious and impactful financial and economic reform measures are urgently required
economic recovery
Kuwait’s non-oil sector to drive post-pandemic growth
While non-oil GDP is gradually recovering, it is unlikely to return to pre-pandemic levels until 2022, but the sector is expected to account for the bulk of Kuwait’s anticipated 2.5 percent GDP growth this year
Coronavirus Kuwait
Kuwait declares travel ban for nationals not vaccinated against coronavirus
Ban begins May 22 as non-Kuwaitis are still prevented from entering the country
Coronavirus Kuwait
Kuwait’s frontline workers to share $1.99bn in Covid-19 bonuses
Cabinet has also approved a request to open a new drive-thru vaccination station near Sheikh Jaber AlAhmed Al-Sabah Causeway
Future Generations Fund
Kuwait is said to plan drawdown from sovereign wealth fund
Kuwait looks to control the country’s spiraling deficit with new debt law
Kuwait economy
Kuwait facing ‘immediate crisis’ as it seeks cash to plug deficit
Source says government has transferred the last of its performing assets to wealth fund in exchange for cash
kuwait cabinet
Kuwait’s late Emir will continue to ‘guide’ policy in near-term, says former US Ambassador
Emir Sheikh Sabah Al-Ahmad Al-Sabah passed away in September but his legacy will remain, according to Douglas Silliman
kuwait elections
Kuwait post-election cabinet has new finance, oil ministers
New parliament convenes on Tuesday amid what could be a battle for the post of speaker