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Kuwait affirms strength after rating KUWAIT CITY, Feb 3, (Agencies): Interim Minister of Finance Khalifa Musaed Hamada has confirmed that the financial position of the country is strong, while stressing the need for hard work to change the outlook which will pave way for the implementation of reforms concerning public funds. In a statement released by the Media Center of the ministry, Hamada reacted to Fitch’s AA rating for Kuwait; particularly the change of outlook from ‘stable’ to ‘negative’. He said the financial position of the country remains strong and solid, owing to the supp...

Kuwait Fund Claims Immunity in Bonus Fight With Ex-Managers Bloomberg 2/3/2021 Jonathan Browning (Bloomberg) -- Kuwait’s sovereign wealth fund, in the middle of a lawsuit with former managers at its U.K. office, says diplomatic immunity means it can avoid handing over “sensitive” documents to the court. Popular Searches The Kuwait Investment Authority is challenging an employment claim from a former executive, Simon Hard, saying he raised salaries and bonuses while his boss was away. The fund’s London branch is appealing a “remarkable and invasive” order that it ...

Fitch cuts outlook on Kuwait’s debt rating to ‘negative’ Reuters/Kuwairt City Filed on February 3, 2021 A Kuwaiti vendor sells desert truffles at a market in the capital Kuwait City on Wednesday. The desert truffle, an underground fungus is unique to arid environments. Unlike its European counterpart, the abundance of the desert truffle makes it the main component of a dish rather than a seasoning. — AFP The agency, which affirmed Kuwait’s long-term rating at "AA", said liquid assets in the General Reserve Fund (GRF) faced being depleted in the absence of parliamentary auth...

CABINET SUBMITS BUDGET BILL FOR ASSEMBLY APPROVAL KUWAIT CITY, Jan 26: The Kuwait Ministry of Finance today announced the draft government budget for the State of Kuwait for the coming fiscal year, which starts April 1, 2021 and ends on March 31, 2022. The budget forecasts 10.9 billion in revenue

The Kuwaiti niche The writer is a Research Fellow at the Institute of Strategic Studies Islamabad. She is a LUMS and Warwick alumnus In Pakistan, little is known about one of the smallest countries in the world, yet one of prime importance, especially when it comes to leading aid engagement in the Gulf and mediating regional disputes. The State of Kuwait is a high-income, city-state emirate which, with the discovery of oil, went through a transformational urban boom from a small seafaring town to a modern-day municipality in less than half a century. Its pluralistic domestic political envir...