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KUWAIT DEBT CRISIS
IMF cuts global growth outlook for 2026, warns of potential recession if Iran war worsensThe International Monetary Fund has cut its global growth outlook, warning the economy could near recession if the Middle East conflict kee...- Kuwait's Sheikh Nawaf: A short but tumultuous reignSheikh Nawaf al-Ahmad Al-Sabah, the emir of Kuwait, served for just three years but spent decades in top positions during the House of Saba...
- 'Great misery': Kuwait political crisis drags down economyKuwait, which borders Saudi Arabia and Iraq, is home to seven percent of the world's crude reserves. It has little debt and one of the stro...
- Kuwait swears in new government amid mounting crisesPrime Minister Sheikh Sabah Al-Khaled Al Hamad Al Sabah swapped out four ministers whose selections had angered various lawmakers for less ...
- Covid-19 and lower oil prices force Kuwait to tap into its wealth fund as cash dries upUnlike Saudi Arabia and others, however, Kuwaiti lawmakers have blocked proposals to borrow on international markets to cover the fiscal sh...
- Kuwait emir tells parliament: reform needed, stop disputesEmir Sheikh Nawaf al-Ahmad al-Sabah took the reins in September following the death of his brother at a time the wealthy OPEC member state ...
- Kuwait names new oil and finance ministers in cabinet approved by new emirMohammad Abdulatif al-Fares was named oil, electricity and water minister, replacing Khaled al-Fadhel, it said in a Twitter post. Khalifa H...
- Government-related-entity debt in the six Gulf states to rise next year, says FitchThe coronavirus pandemic has strained the economies of Gulf countries already under pressure from low oil prices, a key source of state rev...
- Kuwait emir reappoints Sheikh Sabah al-Khalid as PM -state mediaSheikh Nawaf has asked Sheikh Sabah to nominate members of a new cabinet for approval, state media said. While the emir has the final say i...
- Oil-rich Kuwait faces reckoning as debt crisis looms"COVID, low oil prices and the liquidity crisis have all come together in a perfect storm," said Bader al-Saif, an assistant professor of h...
- Kuwait and the UAE in economic pain amid pandemic: ReportsWith the government failing to pass a public debt law, Kuwait has drawn from its reserve fund to keep spending — at a pace that could prove...
- Moody's downgrades Kuwait on liquidity squeeze, weak governanceWhen Kuwait last issued debt in the international markets in 2017, its bonds traded close to paper issued by Abu Dhabi, considered the safe...
- Gulf economies to be hit if US debt ceiling crisis worsensEconomic consequences could be dire for Gulf Cooperation Council countries if US fails to finales a deal on lifting of the debt ceiling.
- Eurozone crisis will affect Gulf countriesA worsening Eurozone debt crisis will affect the GCC countries as European banks will shrink their capital and be less effective in the res...
- Kuwait, Saudi Arabia not to supply oil to Pakistan on long-term creditTroubled by circular debt and high intnl oil prices, Pak had requested the two Arab countries to extend their credit term for oil payments.
- Kuwait's Zain net profit slides 31 percent in Q1Kuwaiti telecommunications giant Zain announced today that first quarter net profit dived by 31.7 per cent due to the continued impact of t...
- Oil unlikely to fall to $65: Senior OPEC delegateThe impact from the Greek debt crisis will be "limited" and oil prices are unlikely to fall below $65 a barrel, a senior OPEC delegate from...
- UAE, Oman unlikely to rejoin Gulf union nowGulf Arab oil exporters will move closer to a unified currency when their rulers meet on Monday in Kuwait, which promised to seek the retur...
- Kuwait cancels $17 bn JV with Dow ChemKuwait's cabinet has cancelled a deal to form a $17.4 bn petrochemical joint venture with US firm Dow Chemical, which has met with oppositi...
- Kuwait moves to prop up major bank after lossesKuwait's Central Bank stepped in Sunday to prop up one of the country's biggest banks and said it was considering guaranteeing deposits in ...
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