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The Kuwait Investment Authority (KIA) manages the General Reserve Fund (GRF) and Future Generations Fund (FGF). KIA reached an agreement with Kuwait Petroleum Corporation, in which the state-owned oil company will pay 8.25 billion Kuwaiti (US$ 27.04 billion) dinars in accrued dividends over 15 years to the SWF. Kuwait Petroleum Corporation has owed roughly 7 […]
I had these conversations over supper while workers in Hi-Vis gear and union shirts mixed it with white-collar types and activists. The supper menu reflected this diversity: party pies; meat balls and savs competed for attention with vegan wraps, sushi and mini quiches. Workers and environmentalists had come together to discuss an environmentally-friendly, jobs-rich economic transformation under the auspices of the Hunter Jobs Alliance. This dialogue is being generated by the changes in technology and energy production. Carly White, a young fitter, noted this when she spoke about the need for...
Kuwait is trying to cover its fiscal shortfall through asset swaps and tapping its sovereign wealth fund as a standoff between government and parliament pushes the cabinet to look for palliative measures while structural reforms remain deadlocked.
Messenger KUWAIT CITY, March 1: Member of the Parliament’s Financial and Economic Affairs Committee MP Saadoun Hammad revealed that the committee has informed the Ministry of Finance and the government team that it met yesterday about its rejection of the draft law to withdraw from the Future Generations Funds. Meanwhile, the Chairman of the committee MP Ahmad Al-Hamad announced that the government has submitted new amendments to the Public Debt Law, which include the cancellation of the repayment period, which was previously set at 30 years, in addition to setting a ceiling for borrowing ...
Article content Everyone saw Alberta’s bad news budget this week — another huge deficit and our net debt now surpassing $100 billion. (Hard to believe that only 16 years ago we were debt-free.) What Albertans did not see is that Ottawa’s equalization program will still be treating Alberta as a “have province,” which means we will be paying rather than receiving. The equalization budget for 2021 is projected to be just over $20 billion, and, as usual, Quebec will be receiving two out of every three of those dollars. What’s new is this. We now have learned that over the last decade,...