KUWAIT: Kuwait announced the issuance of sovereign bonds worth $11.25 billion, divided into three tranches, marking its first successful return to global debt markets since 2017. The issuance attracted overwhelming investor demand and was priced at “one of the tightest spreads ever for a sovereign issuer in emerging markets”.

Kuwait passed a new public debt law in March, after the previous one expired years ago. That raised the borrowing ceiling to KD 30 billion ($98.24bn) from KD 10 billion previously and allowed for the possibility of longer borrowing terms.

In a press statement on Wednesday, the ministry of finance said the issuance comprised a $3.25 billion tranche with a three-year maturity at (+40) basis points over US Treasuries, a $3 billion tranche with a five-year maturity at (+40) basis points, and a $5 billion tranche with a 10-year maturity at (+50) basis points. The ministry noted that “these spreads are significantly lower than Kuwait’s inaugural sovereign issuance in 2017”.

The ministry added that the offering was oversubscribed by 2.5 times, with the order book reaching $28 billion. More than 66 percent of allocations went to investors outside the Middle East and

North Africa region, including 26 percent from the United States, 30 percent from Europe and the United Kingdom and 10 percent from Asia.

Acting Minister of Finance, Minister of Electricity, Water and Renewable Energy, and Minister of State for Economic Affairs and Investment Dr Subaih Al-Mukhaizeem said the historic issuance reflects global market confidence in Kuwait’s financial strength, prudent policies and solid reserves. He added that the strong demand and competitive pricing reaffirm Kuwait’s position as a distinguished sovereign issuer, stressing that the issuance not only meets financing needs but also strengthens Kuwait’s presence in global markets and supports its partnerships with international investors in line with the New Kuwait 2035 vision.

Kuwait’s issuance is considered one of the largest sovereign bond offerings globally in 2025, generating one of the biggest order books this year — underscoring investor confidence in the fundamentals of Kuwait’s economy and its long-term reform program. The issuance was jointly led by Citi, Goldman Sachs International, HSBC, JPMorgan and Mizuho as global coordinators, with the participation of Bank of China and Industrial and Commercial Bank of China as passive joint bookrunners. — Agencies

KUWAIT: Minister of State for Municipal Affairs and Minister of State for Housing Affairs Abdullatif Al-Meshari praised the efforts behind the redevelopment of Shuwaikh Beach, extending special thanks to the National Bank of Kuwait (NBK) for its generous contribution that made the project possible.

Speaking at the inauguration ceremony on Wednesday, Al-Meshari said the reopening of Shuwaikh Beach in its new form marks the start of wider efforts to upgrade Kuwait’s coastal areas. “This is a genuine step toward humanizing vital and touristic sites and transforming them into safe and enjoyable spaces for citizens and residents alike,” he noted.

The minister revealed that similar waterfront initiatives are underway, with new projects planned in Sulaibikhat and Jahra to be announced soon. He also confirmed that the Municipality is restructuring its projects sector to adopt new mechanisms for launching major developments, adding that more announcements will follow in the near future.

On housing, Al-Meshari said contracts for the South Sabah Al-Ahmad and South Saad Al-Abdullah housing projects have been awarded. Construction progress at South Saad has already exceeded 15 percent, with land delivery expected by 2028.

Capital Governor Sheikh Abdullah Salem Al-Ali Al-Sabah stressed the Shuwaikh Beach project reflects Kuwait’s ongoing commitment to enhancing its waterfronts and transforming them into modern, integrated public spaces. He said the new beach was designed as a model recreational environment, featuring modern facilities, green areas and dedicated zones for sports, leisure and social activities.

“This project is the beginning of a series of developmental initiatives that embody the leadership’s vision for a brighter future,” he said, urging citizens and institutions to preserve the beach’s cleanliness and sustainability so it remains a landmark for generations to come.

Deputy Director General for Projects Sector Affairs at Kuwait Municipality Maysa Boushehri described Shuwaikh Beach as a milestone achievement. “This project demonstrates the importance of public-private partnerships, with NBK’s generous support and the cooperation of various government ministries,” she said.

Boushehri emphasized sustainability as a central design principle, citing recycled materials used for the jogging track, accessible play equipment for people with disabilities, and wheelchair-friendly pathways for the elderly and special-needs visitors. She added that the project also addressed previous environmental challenges and upgraded infrastructure to create a cleaner, healthier and more sustainable public space. “We hope Shuwaikh Beach becomes a landmark destination that combines modernity, sustainability, and community spirit,” Boushehri concluded.

KUWAIT: Kuwait and the United Kingdom have reaffirmed their strong bilateral relations in a series of high-level discussions this week, covering diplomacy, regional security, and maritime cooperation. His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah received a telephone call on Wednesday from UK Prime Minister Keir Starmer to review the “distinguished and close” relations between the two countries and explore ways to further enhance them.

Prime Minister Starmer wished His Highness continued health and wellbeing, and expressed hopes for Kuwait’s ongoing progress and prosperity under the wise leadership of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah. In response, the Crown Prince thanked the Prime Minister, describing the communication as a reflection of the “deep and solid” ties between the two friendly nations. He emphasized the shared commitment to further strengthen historical relations and expand cooperation across all fields, wishing continued prosperity to the UK and its people.

According to a statement from the UK foreign affairs department, the Prime Minister said the UK would work with close allies including Kuwait to implement President Trump’s peace plan for Gaza. The Prime Minister added that he felt a strong sense of responsibility that this plan delivered an end to the fighting in Gaza and a long-term pathway to peace.

His Highness the Prime Minister Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah chairs a meeting of the the Supreme Defense Council.

In parallel developments, His Highness Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah, Prime Minister and Chairman of the Supreme Defense Council, presided over a meeting of the council at Bayan Palace to review key regional developments and recent international affairs.

On the security front, Kuwait’s Coast Guard Director-General, Commodore Mubarak Ali Al-Sabah met with the UK’s Vice Admiral Edward Ahlgren to discuss shared security interests and ways to enhance cooperation. The meeting took place at Sabah Al-Ahmad Coast Guard Base and included senior Coast Guard officials.

During the visit, Commodore Mubarak Al-Sabah highlighted the “historical depth” of Kuwait-UK relations and the ongoing development of military and security cooperation. Admiral Ahlgren was briefed on recent updates at the Coast Guard, including the new coastal monitoring system and the integration of naval drones into Kuwait’s maritime fleet. The visit underlined both countries’ shared commitment to strategic cooperation in security and maritime domains, aiming to strengthen regional stability and safeguard mutual interests. — Agencies