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The International Monetary Fund estimates that Kuwait's financing needs will amount to some $180 billion over the next six years given the Gulf state's "modest" fiscal measures and expectations of lower oil prices.
International Monetary Fund says private sector needs to absorb most of 100,000 Kuwaiti nationals expected to enter the job market in the next five years
Gulf Bank is celebrating the third-year anniversary of WISE Investments, the Bank’s digital investment platform, with a strategy performance that has exceeded the returns of some of the major regional markets.
Wafra has been shut since May 2015, due to a dispute over Saudi Arabia’s renewal of Chevron’s concession there, reports ArabianBusiness.com. Kuwait plans to restart oil production by March at the Wafra field that it shares with Saudi Arabia, more than four years after the neighbours halted output.
A broker has struck a historic multi million real estate deal by selling a huge commercial complex (1,600 square meters) located in Jahra for KD20 million with 7.8 percent return, reports Al-Qabas daily.
The government agencies concerned with electrical cars have started, in coordination with local car dealerships, to frame the proposals and scenarios prepared by the bodies in charge of preparing the necessary infrastructure before the dealerships begin selling their electrical cars in the Kuwaiti market.
The President of the Australian College in Kuwait, Dr Issam Zaabalawi, has stressed that the college is keen to structuring its academic and service activities in line with the seven indicators of Kuwait’s Vision 2035, reports Al-Anba daily.
The Central Bank of Kuwait (CBK) is keen on establishing a new Payments System Company capable of meeting the requirements of comprehensive development within the framework of its ambitious projects to develop the banking business and optimal application of the Kuwait National Payments System Project, reports Al-Qabas daily.
Minister of State for Municipal Affairs, Engineer Walid Al-Jassem is said to have rejected any increase in services fees for citizens and expatriates, such as the cleaning fee added to the electricity and water bill, transaction fees, licenses, issuance of certificates, documents, etc., reports Al-Rai daily.
The Ministry of Finance today announced the State of Kuwait’s budget for the coming fiscal year, which starts April 1, 2020 and ends on March 31, 2021. The State’s budget forecasts 14.8 billion in revenue (-6.5 percent change), 22.5 billion in expenditure (0 percent change), and a deficit of KD 9.2 billion (+11.2 percent change) after accounting for the transfer of 10 percent of all revenue to the State’s Future Generations Fund (FGF) as mandated by law.