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Kuwait Events

Kuwait’s $134 Billion Pension Fund has record gains

Kuwait’s $134 Billion Pension Fund has record gains
Kuwait’s Public Institution for Social Security had its best ever annual performance, emerging as a new regional investment powerhouse.

Kuwait’s GDP declines in 2020

Kuwait’s GDP declines in 2020
Kuwait’s GDP declined by 8.9 percent in 2020 in contrast to 2019, where the estimated value with constant prices amounted to KD 36 billion (USD 118.8 billion).

CBK issues warning against digital currencies

 CBK issues warning against digital currencies
Digital currencies aren’t real currencies, are highly risky and they pose a threat to the global financial system, the Central Bank of Kuwait has warned.

Kuwait FM discusses cooperation with US,Tunisian envoys

Kuwait FM discusses cooperation with US,Tunisian envoys
Kuwait Minister of Finance Khalifa Hamadah discusses cooperation with the US and Tunisian ambassadors

Kuwait may take 4 years to introduce personal taxes

Kuwait may take 4 years to introduce personal taxes
Kuwait may take 4 years to introduce personal taxes. Political gridlock and a lack of expertise hinder government plans

Fitch Affirms National Bank of Kuwait at AA-

Fitch Affirms National Bank of Kuwait at AA-
Fitch Ratings has affirmed National Bank of Kuwait Long-Term Issuer Default Ratings at 'AA-' with Negative Outlooks.

Kuwait IFA gets to reschedule paying off its $65m debt

Kuwait IFA gets to reschedule paying off its $65m debt
Kuwait's IFA gets more time to pay off $65m debt burden. This will now be paid off over 5 years as part of agreement with a 'foreign bank'.

Kuwait's cabinet has new oil, finance minister

Kuwait's cabinet has new oil, finance minister
Kuwait’s emir approved a new cabinet that included new ministers of oil and finance for the OPEC member state which is mired in its worst economic crisis in decades.

Expats take out over 4 billion Kuwaiti dinars in loans

Expats take out over 4 billion Kuwaiti dinars in loans
Banking sources have estimated that expats have taken out a total of 4 billion Kuwaiti dinars in loans.

Kuwait banks: no waiver of loans for expats

Kuwait banks: no waiver of loans for expats
While many expats have started leaving Kuwait due to expired visas, some banks have begun the process of prosecuting those with unpaid loans.

Moody’s downgrades Kuwait’s credit rating to A1

 Moody’s downgrades Kuwait’s credit rating to A1
Moody’s Investors Service downgrades Kuwait’s credit rating by two notches to A1 from Aa2; changes outlook to stable.
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