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Burgan Bank honors 7 leaders for finishing Harvard program

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KUWAIT: Burgan Bank recently celebrated seven of its most promising talents for graduating from the “Strategic Leadership in the Age of Financial Sustainability” program, administered by Harvard Business School (HBS). The prestigious program falls under the umbrella of the Central Bank of Kuwait’s (CBK’s) Kafa’a initiative, launched in collaboration with Kuwaiti banks and the Kuwait Institute of Banking Studies (KIBS) to develop highly qualified national cadres in finance and banking.

The graduation ceremony was attended by senior Burgan managers alongside representatives from CBK and other participating banks. The bank’s nomination of and support for its graduating calibers comes as part of its dedicated human capital development strategy and commitment to advancing national talents in line with the national Kuwaitization program.

“On behalf of Burgan’s management, I would like to congratulate our seven visionary leaders for completing such an important program that equips banking professionals with the strategic leadership skills essential for driving financial sustainability, growth, and innovation in the financial sector. We are confident that our graduates will contribute to a highly skilled national workforce and play a pivotal role in shaping the future of banking in Kuwait,” said Bashar Al-Qattan, Executive Manager – Learning and Talent Development at Burgan Bank.

“As part of our overarching efforts to foster a culture of growth and continuous advancement, we are committed to offering our most driven talents valuable learning opportunities that propel them forward and equip them with the latest knowledge and tools needed for achieving success that benefits our institution and larger community.”

Bashar Al-Qattan

Bashar Al-Qattan

He added that Burgan’s ongoing partnership with Harvard Business School, under the Kafa’a initiative, reflects the institution’s unwavering commitment to empowering national talents with world-class knowledge and expertise, contributing to the success of the New Kuwait Vision 2035 goal of advancing national calibers to leadership and decision-making positions.

It is worth noting that the program graduates were nominated as part of their enrollment in the “Visionary Leaders” stream of Burgan’s flagship talent development program, Ro’ya, designed to prepare leaders across the employment hierarchy for driving sustainable growth, inspiring positive change, and instilling Burgan’s values across operations and daily interactions.

In its latest effort to develop the flagship program, Burgan introduced the six-month Mentorship Module for Visionary Leaders to prepare emerging senior leaders on the personal and professional fronts with the guidance of Burgan’s senior executives. Besides Visionary Leaders, Ro’ya also includes the Future Leaders, Rising Leaders, and Transformational Leaders streams for high-potential calibers at earlier stages of their professional careers, with each stream catering to the specific needs, aspirations, and recurring challenges of its enrolled cohort.

Owing to its robust talent development strategy and year-long human capital investment efforts, Burgan Bank was certified as a Great Place to Work, as well as awarded the Brandon Hall Group Human Capital Management (HCM) Gold Award of Excellence in the “Learning and Development” category for the “Best Use of Social/Collaborative Learning” – among other recognitions that reflect the bank’s successful mission to become an employer of choice.

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Kuwait population reaches 5.099 million; Budget revenues could hit KD 18.276bn

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KUWAIT: The total population in Kuwait reached approximately 5.099 million people by the end of June 2025, marking a growth of about 2.2 percent—or an absolute increase of around 111,000 people—compared to the end of 2024 when the population was 4.988 million, according to the data released by the Public Authority for Civil Information. The PACI has released the latest detailed data on population and labor statistics as of the end of June 2025.

The proportion of Kuwaitis in the total population also dropped— from about 31.7 percent at the end of the first half of 2024 to around 30.4 percent according to the latest figures. The number of Kuwaiti males, at approximately 776.7 thousand, slightly exceeds that of Kuwaiti females, at around 773.9 thousand. Meanwhile, the number of non-Kuwaiti residents increased by about 189.3 thousand people, representing a growth rate of approximately 5.6 percent, bringing their total to around 3.548 million. The compound annual growth rate (CAGR) of the non-Kuwaiti population from 2015 to June 2025 was about 2.0 percent.

The total number of workers in Kuwait reached approximately 3.142 million, representing about 61.6 percent of the total population. For Kuwaiti citizens, the employment-to-population ratio stood at about 31.7 percent of the total Kuwaiti population. Notably, the percentage of employed non-Kuwaitis out of the total non-Kuwaiti population was around 74.7 percent. When compared to the end of June 2024, the share of Kuwaiti workers within the total workforce in Kuwait decreased from about 16.6 percent to approximately 15.6 percent in June 2025.

Additionally, the proportion of female workers among the total Kuwaiti workforce declined to around 49.3 percent by the end of the first half of the current year, down from 51.2 percent in June 2024. Female workers made up around 30.3 percent of the total workforce in Kuwait. The number of employed Kuwaiti nationals declined by approximately 15.2 thousand, bringing the total to around 491.1 thousand workers, down from about 506.4 thousand at the end of June 2024. Of these, about 392.9 thousand were employed in the government sector, accounting for 80.0 percent of all working Kuwaitis. This figure differs from the 83.8 percent reported by the CSB, both entities being government institutions, which may be due to the inclusion of unemployed individuals or those on waiting lists in the latter’s figures.

It is believed that the number of openly unemployed Kuwaitis slightly increased to around 30.7 thousand individuals, representing approximately 6.2 percent of the total Kuwaiti labor force by the end of June 2025, compared to about 29.9 thousand or 5.9 percent at the end of June 2024. The total number of workers (both Kuwaiti and non-Kuwaiti) in the government sector reached about 520 thousand, which accounts for roughly 16.5 percent of the total population. Kuwaitis made up approximately 75.6 percent of all employees in the public sector.

Kuwait oil price edges up

By the end of July 2025, the fourth month of the current fiscal year 2025/2026 had concluded. The average price of Kuwaiti oil per barrel for July was around $71.4, an increase of $1.5 per barrel or by 2.2 percent compared to the June’s average of $69.9 per barrel. It was also higher by $3.4 per barrel or by 5.0 percent, compared to the new assumed price in the current budget which is set at $68 per barrel. When comparing this figure to the approved expenditures of KD 24.538 billion, it is likely that the general budget for the current fiscal year 2025/2026 will record a deficit of KD 6.262 billion. However, the dominant factor remains the developments in oil revenues and the potential for savings in expenditures.

Furthermore, the average price of Kuwaiti oil per barrel for the elapsed period of the current fiscal year stood at $69, that is lower by $10.7 or by-13.4 percent compared to the average price per barrel of the previous fiscal year 2024/2025, which was around $79.7. It is also lower by $21.5 or by 23.7 percent, compared to the breakeven price in the current budget at $90.5, according to estimates by the Ministry of Finance and following the suspension of the 10 percent deduction from total revenues for the Future Generations Reserve. It is assumed that Kuwait generated oil revenues of KD 1.352 billion in July. Assuming that production levels and prices remain unchanged, an assumption that may not hold, total oil revenues for the entire current fiscal year are expected to reach KD 15.350 billion after deducting production costs.

This figure is around KD 45 million higher than the estimated amount in the current fiscal year’s budget, which is at KD 15.305 billion. With the addition of around KD 2.926 billion in non-oil revenues, the total budget revenues for the current fiscal year would amount to KD 18.276 billion. An announcement was made on July 22, 2025, regarding the actual budget deficit (the final account) for the previous fiscal year 2024/2025, which amounted to KD 1.056 billion. However, the detailed figures of that final account have not yet been published, making it difficult to analyze the situation.

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NBK sponsors the ‘Green Adventure’ program in collaboration with LOYAC

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KUWAIT: As part of its strategic partnership with LOYAC, and within its ongoing commitment to youth and society development, NBK sponsored the “Green Adventure” program aimed to build future leaders. The “Green Adventure” program, which is a unique initiative that combines physical and educational sustainability-related activities, took place in Portugal for seven days.

Through interactive theoretical sessions and practical field activities, the program targeted instilling values of environmental responsibility and sustainability for the youth to become future leaders and change makers. In the program, the students learned sustainable natural landscape and garden designing, in addition to applying sustainable daily agricultural practices to make a positive environmental impact.

The adventure opened many golden opportunities for the participants, such as exploring Portugal’s charming nature, diverse wildlife, and unique environmental systems. They also visited the ancient Moorish castle, and they were able to build connections with same-interest individuals and experts in the field, in addition to achieving a deeper understanding of the relationship between nature and society.

This sponsorship comes as an emphasis of NBK’s leadership in social responsibility and its commitment to investing in future generations, as it firmly believes in the effectiveness of such initiatives that contribute to shaping deeper understandings of global environmental issues, which consequently builds a generation that is strongly aware and capable of facing future sustainability-related challenges.

Additionally, NBK highlights the importance of private sector and non-profit organizations collaborations that aim to achieve sustainable development, and this sponsorship is part of a wider strategy that supports initiatives of youth education and environmental development for a better future for Kuwait and the region.

In this light, NBK will continue to promote social responsibility and support all society’s segments and non-profit organizations, particularly those institutions and programs that care for the youth and address their needs and requirements for a better future, as it strongly believes in the effective role of these programs in serving society and people. LOYAC is a non-profit organization that aims to support the youth by providing training opportunities and specialized educational and volunteer development programs.

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Kuwait Acting PM, FM receive Antigua and Barbuda’s FM

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KUWAIT: Kuwait’s Acting Prime Minister Sheikh Fahad Yusuf Al-Sabah receives on Wednesday at Bayan Palace, in the presence of Foreign Minister Abdullah Al-Yahya, Antigua and Barbuda’s Minister of Foreign Affairs, Trade, and Barbuda Affairs Everly Paul Chet Greene, along with his accompanying delegation. --KUNA

KUWAIT: Kuwait’s Acting Prime Minister Sheikh Fahad Yusuf Al-Sabah receives on Wednesday at Bayan Palace, in the presence of Foreign Minister Abdullah Al-Yahya, Antigua and Barbuda’s Minister of Foreign Affairs, Trade, and Barbuda Affairs Everly Paul Chet Greene, along with his accompanying delegation. –KUNA

KUWAIT: Kuwait’s Acting Prime Minister Sheikh Fahad Al-Yousef Al-Sabah received on Wednesday at Bayan Palace, in the presence of Foreign Minister Abdullah Al-Yahya, Antigua and Barbuda’s Minister of Foreign Affairs, Trade, and Barbuda Affairs Everly Paul Chet Greene, along with his accompanying delegation, on the occasion of his visit to the country. During the meeting, the two sides reviewed bilateral relations between the two countries and ways to strengthen them, in addition to exchanging views on issues of mutual interest.

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During the meeting, they reviewed the close bilateral relations between the two friendly countries and the frameworks for strengthening and developing them in various fields, in addition to discussing regional and international developments and the developments taking place in the region. — KUNA

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