Food & Drink China’s online food delivery giant Keeta to enter Kuwait Keeta, the international arm of China’s biggest food delivery app, reportedly plans to launch operations in Kuwait. The recruiting process is nearing completion, with the launch expected in the second half of 2025 or early 2026, Al Qabas, an Arabic daily, reported, citing unnamed sources. The report said that the Chinese company may consider acquiring […] June 13, 2025
Analysis Telecoms Analysts opt for small Gulf telcos despite profits at majors The Gulf’s major former telecom monopolies reported steady first-quarter profit growth and have proved a safe haven for equity investors during market volatility this year. However, it is their smaller domestic rivals that analysts prefer. Saudi Telecom Co (STC), the UAE’s e& (formerly and more commonly known as Etisalat), Qatar’s Ooredoo and Kuwait’s Zain are […] June 13, 2025
Tourism Kuwait’s UREC to build island tourism complex in Oman Kuwaiti developer United Real Estate Company (UREC) is planning to create an island tourism complex in Oman, as the sultanate strives to develop its tourism sector and catch up with its Gulf neighbours. UREC said in a bourse statement on Wednesday that its subsidiary in the sultanate UREC Oman has signed a contract for the […] June 12, 2025
Banking and Finance Kuwaiti companies to face fines for not disclosing ownership Kuwait is expected to net nearly KD4.1 million ($13.5 million) from financial penalties imposed on 4,000 companies flouting transparency rules related to their ownership. The government had given more than 150,000 businesses operating in Kuwait until June 10 to disclose what it terms as “the actual beneficiary or owner” as part of a crackdown on […] June 12, 2025
Finance Gulf fintechs take notice of surging stock markets Growing demand from international investors trading in stocks on Gulf exchanges is creating opportunities for established and newer financial technology (fintech) companies alike to grow their Middle East business. “We have seen the interest in trading on Gulf exchanges increase steadily over time, but demand has skyrocketed in the past year,” Damian Hitchen, regional head […] June 12, 2025
Oil & Gas Kuwaiti oil company borrows $1bn to fund new projects Kuwait’s Independent Petroleum Group (IPG), which is listed on the local bourse, is borrowing nearly KD326.6 million ($1 billion) to fund new projects. “IPG has finalised agreements with four conventional and Islamic banks in Kuwait for the renewal of credit facilities worth KD326.6 million,” the company said in a statement to the Kuwait exchange. The […] June 11, 2025
Logistics Agility gets $500m loan to support expansion Logistics company Agility Global has secured a $500 million loan to support its ongoing operations and expansion plans. The three-year facility, with specific extension options, was secured from a regional bank, the company said in a statement to the Abu Dhabi Securities Exchange. The name of the lender was not disclosed. In March, Agility said […] June 10, 2025
Analysis Finance The KIA maintains its low profile approach – for now Kuwait Investment Authority (KIA) is not only the oldest Gulf sovereign wealth fund, but also the most opaque. It publishes little information about its assets and usually invests abroad through asset managers rather than directly. Its low-profile approach contrasts with the likes of Saudi Arabia’s Public Investment Fund (PIF), Abu Dhabi’s Mubadala and the Qatar […] June 9, 2025
Economy Kuwait economy The latest economic and demographic indicators for Kuwait, including GDP, inflation, oil prices, trade, population, unemployment and more June 6, 2025
Oil & Gas Adnoc Drilling expands in Oman with SLB stake Adnoc Drilling, a subsidiary of Abu Dhabi state-backed oil major Adnoc, has bought a 70 percent share in SLB’s oil drilling business in Oman. The agreement includes six fully operational land rigs in Oman and two in Kuwait, the company said. The Emirati company will pay $91 million for the stake, with another $21 million payout […] June 2, 2025
Energy Kuwait hopes PPP projects will help end power crisis Kuwait is hoping that new energy projects involving state and private investors will help the country tackle its power crisis. One of the contracts is due to be awarded within weeks, according to Asmaa Al-Mousa, the acting director general of the Kuwait Authority for Partnership Projects (KAPP). Kuwait, a member of the Organization of the […] May 30, 2025
Retail Kuwaiti rapid-delivery app raises £6m for expansion Kuwaiti quick-commerce platform Circle has raised $6 million to fund local and regional expansion, it has announced. Founded in 2020, the Circle app offers deliveries of groceries and other essentials from “dark stores” across Kuwait. It aims for delivery in less than 20 minutes. The company says it has grown its revenue sevenfold in just […] May 26, 2025
Banking and Finance Kuwait-listed banks explore potential merger Kuwait-listed Gulf Bank and Warba Bank have agreed to undertake a feasibility study and due diligence on a proposed merger. The two banks announced the decision in disclosure to the local stock exchange on Monday, following which their shares were suspended for one hour under the capital markets bylaws. The potential merger offers growth and […] May 26, 2025
Economy Kuwait to generate $1.6bn from government fees increase Kuwait’s strategy to diversify its non-oil revenue by hiking government services fees is reportedly forecast to generate nearly KD500 million ($1.6 billion) a year for the Gulf state. Government offices have a tendency to “re-price” services they offer to the public, following an Emiri decree in early 2025 allowing them to revise such fees, local […] May 21, 2025
Economy Kuwait to borrow up to $20bn over next year Kuwait is on the verge of returning to the debt market after an eight-year absence with plans to borrow up to $20 billion during the 2025-2026 fiscal year, according to local media. The loans will be used mainly to fund infrastructure projects worth KD2.3 billion ($7.6 billion) included in the current fiscal year, which started […] May 20, 2025
Oil & Gas Kuwait to invest up to $50bn in five-year oil expansion plan Kuwait plans to pump as much as $50 billion into projects to expand its oil production capacity to more than 3 million barrels per day (bpd) over the next five years, a senior Kuwaiti oil official said. The investments are part of an even longer term plan to lift the Gulf emirate’s crude output capacity […] May 16, 2025
Telecoms Zain revenue raises Omantel’s profits Omantel, Oman’s largest telecoms provider, reported a significant rise in net profits in the first quarter of 2025, thanks to strong performance by its Kuwaiti subsidiary Zain. Its net profit rose to OR65 million ($168 million) in the first three months of this year, up 60 percent over the same period in 2024. Omantel’s group […] May 15, 2025
Opinion Trade Trump in his happy place: Purple carpets and big deals in Saudi Arabia The challenge now is to maintain the momentum and atmosphere of the trip May 14, 2025
Analysis Banking and Finance Rise of Middle East fintechs gives banks a run for their money The growth of fintech in the Middle East is driving traditional banks to refocus on better serving their customers and invest in their own dedicated subsidiaries as the sector eats into their market share, industry experts say. In the three months to March 31, fintech funding accounted for almost 60 percent of all venture capital […] May 13, 2025
Renewable Energy China to build large solar power plant in Kuwait China has won a contract to build a large solar power park at the Shagaya renewable energy complex in the heart of the Kuwaiti desert. The facility will allow the Gulf state to increase renewables’ share of its energy mix to more than a quarter, a Kuwaiti minister said. The unnamed Chinese government company has […] May 12, 2025
