Business
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KPC reorganizes legality of its contracts under ‘force majeure’ clause
The Kuwait Petroleum Corporation has declared force majeure on shipments of oil and refined products due to the closure of…
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KPC awards 16.3 million dinars contract for Al-Zour automation maintenance
The Supreme Purchasing Committee of the Kuwait Petroleum Corporation and its subsidiaries has approved a direct contract for the maintenance…
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Kuwait’s financial strength stands out as Fitch flags regional risks from US–Iran conflict
Fitch Ratings has reported that most Gulf Cooperation Council (GCC) sovereigns under its coverage have demonstrated notable resilience amid the…
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IMF warns of Gulf GDP decline as Hormuz closure triggered regional economic shock
The International Monetary Fund has predicted the GDP of five Middle Eastern oil-exporting countries, including three Gulf states, to decline…
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Kuwait oil price up 53 cents to US $102.56 per barrel
Price of Kuwaiti oil rose by 53 cents, reaching US $102.56 per barrel in Friday trading, compared to US $102.03…
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Foreign investment in Kuwait banking sector falls 6 percent to $14.9bn in Q1 2026
A recent economic report has shown a decline in the value of foreign investments in the banking sector listed on…
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Moody’s revises Iraq credit rating to ‘negative’
On Friday, Moody’s credit rating agency revised its outlook for Iraq from “stable” to “negative,” citing risks to the country’s…
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Rising war risks could fuel inflation and prolong energy crisis, IMF panel says
The International Monetary and Financial Committee of the International Monetary Fund warned on Friday that escalating geopolitical tensions in the…
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The price of a barrel of Kuwaiti oil falls by two dollars to reach $101.54
The price of Kuwaiti crude oil fell by two dollars to reach US $101.54 per barrel in trading on Wednesday,…
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Sovereign wealth shift; Norway opens Syria bonds, bars Iran from fund access
A document has shown that Norway will lift the ban on its $2.2 trillion sovereign wealth fund’s investments in Syrian…
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