Jamal Al-Loughani, Secretary-General of the Arab Energy Organization (AEO), formerly known as OAPEC.

KUWAIT CITY, Aug 13: The global economy showed signs of relative improvement in the second quarter of 2025, driven primarily by accelerated spending on imports in anticipation of higher US tariffs, alongside a general improvement in global financial conditions. This was revealed by Jamal Al-Loughani, Secretary-General of the Arab Energy Organization (AEO), in a statement to Kuwait News Agency (KUNA) on Wednesday, following the release of the organization’s second quarterly report on the global oil market.

Al-Loughani noted that the global economic growth rate forecast for 2025 was revised upward to 3%, compared to the earlier forecast of 2.8%. He attributed this positive shift to factors such as improved financial conditions and preemptive import spending. However, he cautioned that the lack of comprehensive trade agreements continues to stir concerns about the long-term impact of ongoing global trade uncertainties.

Despite this uptick in global growth, Al-Loughani pointed to a concerning 12.1% decline in the average spot prices of the OPEC basket of crudes, which fell to USD 67.4 per barrel during the second quarter. The prices of crude oil futures also recorded quarterly losses, with Brent crude and US West Texas Intermediate (WTI) falling by 10.8%, reaching $66.8 and $63.7 per barrel, respectively.

The AEO Secretary-General attributed the drop in oil prices to several factors, including shifts in US trade policy, growing concerns about a potential slowdown in global economic growth, and weaker oil demand. Additionally, he mentioned that the downgrade of the US sovereign credit rating due to rising government debt and a slowdown in China’s industrial production and retail sales further dampened investor sentiment.

Global oil supplies showed a slight increase, rising by 0.4% compared to the previous quarter, reaching 104 million barrels per day. This uptick was largely due to increased output from OPEC+ nations and the United States. On the demand side, however, global oil consumption saw a modest decline of 0.03% quarter-on-quarter, influenced by weaker demand from China and other Asian countries.

OPEC member states experienced a 9.5% decrease in crude oil exports during the second quarter of 2025, dropping to approximately $100 billion. This drop in revenue was primarily attributed to falling oil prices. Al-Loughani noted that these developments had a direct impact on the economic performance of member states, with a decline in oil revenues negatively affecting public finances and external accounts.

Despite these challenges, he emphasized that OPEC member states continued to pursue economic reforms aimed at reducing inflation, stimulating investment, and boosting labor market growth. Furthermore, the non-oil sector provided some support to these economies, helping to mitigate the overall economic impact.

Looking ahead, Al-Loughani expressed optimism for the continued growth of the oil sector, particularly with the OPEC+ decision to implement additional voluntary cuts in April and November 2023. These cuts are set to gradually increase production, reaching 411,000 barrels per day in July, 548,000 barrels per day in August, and 457,000 barrels per day in September. This increase in oil production is expected to positively affect oil revenues, which remain a crucial source of national income for member states.

Despite these positive steps, Al-Loughani warned that the global oil market remains surrounded by uncertainty. While OPEC forecasts indicate a decline in oil supplies from non-OPEC+ countries in the third quarter of 2025, global oil demand is expected to rise to approximately 105.5 million barrels per day. These projections, however, remain speculative due to several ongoing uncertainties, including escalating global trade tensions, geopolitical risks in the Middle East and Eastern Europe, and concerns over global economic growth.

Al-Loughani praised the continued efforts by OPEC+ countries, including six members of the Arab Energy Organization, to maintain balance and stability in the global oil market. These ongoing precautionary measures are aimed at ensuring the oil market remains resilient amid global economic and geopolitical challenges.

While the global economy has shown signs of recovery in the second quarter of 2025, the outlook for the oil market remains volatile, with both supply and demand factors contributing to continued uncertainty.

KUWAIT CITY, Aug 12: As part of its ongoing commitment to supporting education and empowering Kuwaiti ‎youth, Gulf Bank has successfully concluded its distinguished participation in the ‎university admission fairs at Kuwait University and Abdullah Al-Salem University. The ‎Bank actively engaged with new students, introducing them to its tailored banking ‎solutions designed specifically for young people.‎

Gulf Bank took part in the interactive admission fair held at Kuwait University’s Sabah ‎Al-Salem University City in Al-Shadadiya from 19 to 29 July 2025. The Bank’s booth ‎attracted a high turnout from students and parents, who showed great interest in the ‎banking services designed for university students.‎

Similarly, the Bank participated in the admission fair hosted by Abdullah Al-Salem ‎University at its Khaldiya campus from 6 to 17 July 2025. Gulf Bank’s presence ‎featured direct interaction with visitors, providing comprehensive information on ‎student accounts and other tailored services.‎

These participations are part of Gulf Bank’s continuous efforts to strengthen ‎engagement with youth and support them in the early stages of their academic journey. ‎Alongside sharing information on academic majors and admission processes, the ‎Bank also offered financial tips to help students manage their resources effectively ‎from the start of their university life.‎

At both events, Gulf Bank showcased its red account, one of its leading banking ‎solutions designed for customers aged 15 to 25. The account offers a wide range of ‎benefits, including prepaid cards, exclusive discounts, rewards on purchases, and ‎access to unique events and experiences that enrich both personal and professional ‎growth. ‎

Beyond its features, the red account serves as a platform to promote financial literacy ‎among youth, equipping them with the knowledge and skills to make informed ‎financial decisions early in life – positively shaping their future and fostering a ‎generation that is financially aware and capable of managing resources effectively.‎

Gulf Bank’s team expressed pride in supporting students throughout their high school ‎and university years, offering innovative banking services designed to keep pace with ‎their fast-paced lifestyles.‎

Gulf Bank concluded its participation by thanking the administrations of both ‎universities for organizing the fairs, which serve as valuable platforms to connect with ‎youth. The Bank reaffirmed its commitment to continuing its support for educational ‎and youth initiatives that contribute to Kuwait’s development and enhance the quality ‎of life for its students and community.‎

Kuwait City, 12August2025: Kamco Invest, a regional non-banking financial powerhouse with one of the ‎largest AUMs in the region, announced its financial results for the six-month periodended30June2025. The ‎Company reported a net profit of KWD7.1mn (EPS:20.72fils) compared toKWD2.5mn during the same ‎period in 2024 (EPS:7.26fils).‎

Total revenue stood atKWD19.0mn, an increase of 48.2% compared to the same period of 2024, whereas ‎fee and commission income reached KWD7.5mn (6M 2024: KWD8.1mn).The rise in total revenue was ‎primarily driven by the performance of the Company’s investment portfolio, supported by one-off ‎proceeds from a legal case ruled in the Company’s favor.‎

Assets under management grew by 7.5% to reach USD17.1bn as of 30June 2025, due to new money raised ‎in various products during the period, as well as the performance of portfolios and funds. Kamco Invest ‎maintained its ranking amongst the ten largest asset managers in the MENA region, according to Forbes ‎Middle East. The Company enjoys a strong track record and deep expertise in delivering diverse investment ‎solutions to its clients.‎

Managed portfolios continued to outperform their respective benchmarks, while the Company’s equity ‎funds maintained their positions amongst the top performing funds in Kuwait and Saudi Arabia, based on ‎the fund disclosures published on Boursa Kuwait and Tadawul websites.‎

As forAlternative Investments, which includes real estate, private equity and structured products, the team ‎continued to expand its range of offerings to provide clients with added value. During the period, Kamco ‎Invest finalized the acquisition of a 60% majority stake in European Green Logistics Space (EGLS), a ‎company specializing in the development, investment, and management of logistics assets in Europe. This ‎acquisition reflects Kamco Invest’s commitment to growing its recurring fee income while unlocking value-‎adding opportunities for regional clients in the sustainable logistics sector.‎

Furthermore, the Company successfully exited its investment in Yargici, a leading Turkish fashion and ‎accessories brand held by one of Kamco Invest’s private equity funds, through a sale to TIMS Group, a ‎diversified Turkish business group with operations in content production, tourism, construction, and land ‎development. The exit highlights Kamco Invest’s commitment to delivering long-term value to its clients ‎while ensuring the continued growth and success of its portfolio companies.‎

The Investment Banking team continued to advise clients on several transactions across equity capital ‎markets, debt capital markets, and M&A, with deals expected to close during the year. During the six-‎month period, the team advised OSN Group on the sale of a 30% stake of its subsidiary, OSN Streaming ‎Ltd., to Warner Bros. Discovery for USD57mn. The team also acted as Joint Lead Manager on five bond ‎and sukuk issuances totaling USD2.3bn for regional banks and institutions across Kuwait, Saudi Arabia, ‎UAE, and Qatar.‎

First Securities Brokerage Company, Kamco Invest’s brokerage arm, continued to strengthen its ‎competitive position and attracted new clients through its online trading platforms. ‎

Kamco Invest -Saudi and Kamco Invest – DIFC continued to strengthen their presence in their respective ‎markets by improving their services and contributing more to the company’s core businesses, particularly ‎in asset management. Kamco Invest – Saudi signed a strategic partnership with Flexam Invest to offer ‎leasing opportunities to their clients. Furthermore, Kamco Invest – Saudi completed the fit-out of its new ‎premises in the King Abdullah Financial District (KAFD), with the official move taking place in July 2025.‎

Kamco Invest was awarded the “Kuwait’s Best for Alternative Investments” at the Euromoney Private ‎Banking Awards 2025, highlighting the Company’s rapid growth and sustained success in the alternatives ‎space. In addition, Kamco Invest was named “Kuwait’s Best Investment Bank – DCM” at the Euromoney ‎Awards for Excellence 2025, in recognition of the team’s outstanding performance in executing bond and ‎sukuk transactions for local and regional clients.‎

Total assets increased by 4.4% during the period to reachKWD135.5mn, whereas shareholders’ equity rose ‎by 8.7%toKWD67.7mn. The Company also enjoys a strong financial position and a “BBB” long-term credit ‎rating and “A3” short-term rating with stable outlook by Capital Intelligence in their latest review in May2025. ‎

Commenting on the results, Sheikh Talal Ali Abdullah Al Jaber Al Sabah, Chairman, said, “Our performance ‎in the first half of 2025 highlights the resilience of our strategy and the strength of our diversified business ‎model. We are well positioned to navigate market dynamics and grow our business while continuing to ‎deliver value to our shareholders.”‎

Faisal Mansour Sarkhou, Chief Executive Officer, commented, “We delivered solid growth during the six-‎month period on various fronts including assets under management and achieved strong returns across our ‎investment portfolios. Strategic developments, such as the acquisition of a majority stake in EGLS, ‎demonstrate our focus on long-term value creation. We remain committed to enhancing our offerings, ‎expanding our regional footprint, and delivering sustainable growth for our clients and stakeholders.”‎