Kuwait debuts first securities-based crowdfunding platform via Capital Markets Authority.

KUWAIT CITY, July 20: In a landmark move aimed at advancing financial innovation, Kuwait’s Capital Markets Authority (CMA) on Sunday announced the official launch of the country’s first securities-based crowdfunding service, marking a significant step toward diversifying investment tools and promoting financial inclusion.

The CMA confirmed in a press statement that Al-Mawazi Capital has become the first company registered in its securities-based financial technology services registry, officially authorized to provide this pioneering platform service.

According to the statement, the launch aligns with the CMA’s broader strategic objectives to implement international best practices, expand capital markets, and introduce modern financial technologies that had previously not existed in Kuwait.

The securities-based crowdfunding model allows businesses—particularly small and medium-sized enterprises (SMEs)—to raise funds from the general public by offering capital shares or issuing securities via a licensed digital platform registered with the CMA.

This innovative service is designed to strengthen Kuwait’s financial technology (fintech) sector and bolster financial inclusion by creating alternative financing channels beyond traditional methods. It provides new investment opportunities for retail investors while supporting entrepreneurs and project owners seeking non-traditional capital sources.

The CMA noted that the registered crowdfunding platform acts as a regulated digital marketplace, where issuers can present funding opportunities and investors can engage directly in securities transactions tied to those crowdfunding offerings.

In addition to enhancing cash flow in the market, the platform is expected to attract a wide segment of the population interested in exploring new investment avenues, while also ensuring that entities providing such services meet regulatory standards and that investor rights are protected.

The CMA emphasized the growing significance of financial technologies, describing the sector as “rapidly evolving,” with increasing adoption across both individual and institutional users.

The Authority concluded by reaffirming its commitment to developing Kuwait’s capital markets and fostering innovation in financial services through secure, inclusive, and well-regulated platforms.

KUWAIT CITY, July 19: Kuwait National Petroleum Company (KNPC) aims to increase the production capacity of Mina Al-Ahmadi and Mina Abdullah refineries from 798,600 barrels per day to about 825,000 barrels per day this year. Sources told the newspaper that this step is crucial, considering that the refined products of both refineries contain materials that meet most international environmental requirements; hence, the global markets prefer KNPC products.

Sources confirmed that KNPC has completed numerous maintenance operations on several units in the two refineries and is currently undertaking comprehensive maintenance to increase its production capacity. Sources said the company utilizes the most advanced smart digital technologies to continue production operations optimally, especially since these technologies have a high capacity to predict breakdowns.

Sources stated that to increase the production capacity of Mina Al- Ahmadi Refinery, the company will focus on increasing the operating capacity of the atmospheric distillation residual sulfur removal unit; thereby, raising its production from 50,000 barrels per day to 55,000 barrels. Sources revealed this is in addition to increasing the operating capacity of the atmospheric distillation residual sulfur removal units at Mina Abdullah Refinery to reach 50,000 to 55,000 per unit.

Sources disclosed that the target expansion plan includes increasing the operating capacity of the naphtha processing unit from 23,000 barrels to 25,8000 barrels per day at the Mina Abdullah Refinery. Sources also cited the ongoing efforts to increase the operating capacity of the gasoline production unit at Mina Abdullah Refinery from 18,000 to 20,000 barrels per day. Sources added that the production capacity of the petroleum coke production unit at Mina Al-Ahmadi Refinery will be increased from 37,000 barrels to around 44,400 barrels per day.

Sources affirmed as well that evaluations are underway for several other units at the two refineries in preparation for increasing their production capacity. Sources said KNPC is currently leading an ambitious plan to increase the production of clean refining materials through various means in order to protect the environment. “Therefore, it is working diligently to reduce emissions through the use of alternative energy. It is expanding the use of alternative energy through solar panels at its fuel stations — both the existing ones and those to be built in the coming years. The company intends to implement several projects in the coming years to achieve carbon neutrality by 2050,” sources added.

Moreover, sources attributed the decline in the profits of the company for fiscal 2024/2025 to several factors; particularly the geopolitical factors in the region, entry of new African refineries into service, and resumption of Russian refineries, some of which ceased operations some years ago due to the Russian- Ukrainian war. Sources also cited the official launching of the Kuwaiti-Omani Duqm Refinery in February 2024 as one of the factors, as most global markets relied on it, especially during the intensification of geopolitical crises, as well as the recession that accompanied product purchases

By Najeh Bilal Al-Seyassah/Arab Times Staff

KUWAIT CITY, July 19: As part of its summer campaign for riders and broader commitment to their wellbeing, Talabat, the region’s leading on-demand online ordering and delivery platform, has relaunched its “Vending Machines for Summer Relief” initiative for the second consecutive year. With temperatures on the rise, an exclusive vending machine has been installed in a high-traffic rider zone, offering Talabat riders access to essential hydration and light snacks to help them stay safe, nourished, and energized on the job. This initiative reflects Talabat’s continued efforts to provide on-the-ground, people-first solutions that support rider health and safety all year long, especially during summer.

Commenting on the initiative, Bader Al-Ghanim, Vice President and Managing Director of talabat Kuwait, said: “After receiving positive feedback from riders last year, we’re excited to reintroduce this initiative for the second year in a row as part of our summer campaign for the riders. It’s designed to support their health, comfort, and efficiency. We’ve strategically placed a vending machine that provides riders with quick and easy access to water, refreshments, and snacks — all free of cost — to help them stay hydrated and well-nourished during their working hours.”

To further strengthen its rider support initiatives, the company continues to invest in rider safety and education, offering regular multilingual workshops and training sessions in collaboration with government bodies and leading institutions in Kuwait. These sessions cover key topics including traffic regulations, vehicle safety, and health tips to help riders manage blood pressure and sugar levels during their shifts.

By equipping riders with this knowledge, Talabat aims to ensure they adopt healthy coping approaches to the job requirements. Building on the success of last year’s rollout, Talabat remains committed to enhancing its summer campaign for riders and other rider-focused efforts that reflect its long-term corporate social responsibility (CSR) strategy. With initiatives like these, Talabat continues to set a benchmark for how companies can support those at the heart of the on-demand delivery ecosystem through inclusive, human-centered programs that prioritize health, safety, and well-being in this fast-paced line of work.