Chairman of the Directorate General of Civil Aviation Sheikh Hamoud Mubarak Al-Hamoud Al-Jaber Al-Sabah with His Excellency the Japanese Ambassador to Kuwait, Kenichiro Mukai.

KUWAIT CITY, July 21: Sheikh Hamoud Mubarak Al-Hamoud Al-Jaber Al-Sabah, Chairman of the Directorate General of Civil Aviation (DGCA), expressed Kuwait’s strong interest in deepening cooperation with Japan across various sectors of civil aviation, including training, aviation safety and security, and airport infrastructure development.

The remarks came during Sheikh Hamoud’s meeting with the Japanese Ambassador to Kuwait, H.E. Kenichiro Mukai, as part of ongoing efforts to bolster bilateral ties between the two countries.

According to a DGCA press statement, the meeting addressed key areas of joint cooperation and opportunities to benefit from Japan’s extensive experience and advanced technologies in the aviation industry.

Sheikh Hamoud highlighted the long-standing and friendly relations between Kuwait and Japan, emphasizing Japan’s leadership in aviation technology and its potential contribution to Kuwait’s civil aviation development.

In response, Ambassador Mukai expressed his gratitude for the warm welcome and reaffirmed Japan’s commitment to strengthening collaboration with Kuwait in the aviation sector, underscoring shared interests in innovation, safety, and sustainable growth.

Prices go up in Kuwait: Food, health, and clothes cost more.

KUWAIT CITY, July 20: Domestic inflation in Kuwait rose by 2.32 percent year-on-year (YoY) in June, according to data released by the Central Statistical Bureau (CSB) on Sunday.

The CSB also reported a 0.29 percent increase in the consumer price index (CPI) month-on-month for June compared to May.

The bureau attributed the annual inflation rise primarily to price increases across key sectors, especially food, health, clothing, and education — with the exception of transportation, which saw a decline.

Food and beverages prices surged by 5.11 percent in June compared to the same month last year. The prices of cigarettes and tobacco saw a slight increase of 0.07 percent. Clothing costs rose by 3.93 percent, while housing services increased by 0.98 percent. Home furnishings also recorded a notable inflation of 3.30 percent.

Health-related expenses climbed by 2.94 percent, whereas transportation costs dropped by 1.81 percent year-on-year. Communication services experienced a modest rise of 0.64 percent, and entertainment and culture expenses went up by 1.92 percent. Education costs increased by 0.71 percent.

The prices for restaurants and hotels rose by 1.94 percent annually, while miscellaneous goods and services recorded an inflation rate of 4.8 percent.

Excluding the food and beverages category, inflation in Kuwait stood at 1.69 percent year-on-year and 0.23 percent month-on-month in June.

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.