Kuwait has forecast a fiscal deficit of KD9.8 billion ($31.9 billion) in its draft 2026-2027 budget, a sharp 54.7 percent rise over the current fiscal year's deficit.
Kamco Invest, a regional non-banking financial powerhouse based in Kuwait, has signed a strategic agreement with New Jersey-based PGIM, the global asset management business of Prudential Financial (PFI), to enhance and expand its investment offerings across wealth and asset management.
The Ajman Department of Tourism, Culture and Media (ADTCM) organized ‘Running for the Love of Kuwait’, a community sports event held to celebrate the long-standing brotherly relation between the UAE and Kuwait.
Kuwait’s leading low-cost carrier Jazeera Airways celebrated its 20th anniversary with an exclusive partner recognition event. Today, it operates a fleet of 23 Airbus aircraft and serves 70 destinations across the Middle East, Central and South Asia, Europe, and Africa.
Dar, one of the world’s leading consultancies, has secured a major contract to provide design review and construction supervision services for the transformational South Al Mutlaa Wastewater Treatment Plant (WWTP) in Kuwait along with related works.
Leading Kuwaiti developer Mabanee has signed an Islamic financing agreement worth KD104.8 million ($341 million) with a 60-month tenor. These funds will be used to first settle the existing financing facilities and then boost liquidity for its activities.
Kuwait has awarded an infrastructure contract worth KD77.7 million ($253 million) to Khalid Ali Al Kharafi & Brothers for its Shuwaikh Water Distribution Complex. The scope of work includes the construction, maintenance, and development of the existing facility.
Kuwait Financial Centre (Markaz) has completed the private placement of the first tranche of bonds with a total value of KWD35 million ($113.92 million) issued under KWD50 million Senior Unsecured Bond Program.
Acwa Power, a global utility leader, said it has successfully completed the acquisition of French energy major Engie’s strategic gas-fired power generation and water desalination assets in Kuwait and Bahrain along with the related O&M companies for $693 million.
The Kuwait Authority for Partnership Projects has issued Request for Proposals to qualified bidders for the development of Al Dibdibah Power and Al Shagaya Renewable Energy (Phase III – Zone 2) Solar PV IPP project with a total capacity of 500MW.
