RIYADH: Kuwait’s Ambassador to Saudi Arabia Sheikh Sabah Nasser Sabah Al-Ahmad Al-Sabah, presented his credentials to Saudi Crown Prince Mohammed bin Salman on Tuesday, who received him on behalf of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz.

The ceremony took place at the Royal Court in Riyadh’s Al-Yamamah Palace, where the Crown Prince received a number of ambassadors from brotherly and friendly countries, according to the Saudi Press Agency (SPA). During the reception, Crown Prince Mohammed welcomed the ambassadors, conveying the greetings of King Salman bin Abdulaziz and his own regards to the leaders of their respective countries.

He expressed his best wishes for their efforts to strengthen and develop bilateral relations with Saudi Arabia. The ambassadors, in turn, extended the greetings of their heads of state to the King and the Crown Prince, expressing gratitude for the warm and generous reception they received. — KUNA

AL-ULA, Saudi Arabia: Kuwait’s representative to the Munich Leaders Meeting, First Deputy Prime Minister Sheikh Fahad Al-Yousef Saud Al-Sabah, underlined the country’s commitment to regional dialogue and international cooperation during the high-level gathering in Al-Ula, Saudi Arabia.

The three-day meeting, held at the Maraya Theater and running through Thursday, brought together senior decision-makers and global experts to discuss pressing issues including international trade, regional crises, energy transition, maritime security and nuclear safety. The conference comes days after US President Donald Trump unveiled a 20-point peace proposal for Gaza, aimed at ending the Zionist entity’s war on the Palestinian territory — a plan that enjoys wide international backing, including from Kuwait.

Speaking to the Kuwait News Agency (KUNA) on the sidelines of the conference, Sheikh Fahad said Kuwait’s participation “confirms our keenness to support regional dialogue and strengthen international cooperation.” He highlighted discussions on urgent humanitarian issues in Gaza and the occupied Palestinian territories, noting that “participants agreed that sustainable regional security cannot be achieved amid ongoing (Zionist entity) aggression.” He also warned of the consequences of escalating military conflicts, describing the attacks on Qatar and Gaza as “a blatant violation of international law and a direct threat to collective Gulf and regional security.”

Sheikh Fahad added that sessions addressed maritime security, energy safety, the elimination of weapons of mass destruction, as well as food and water security, economic challenges and shared security threats. He reaffirmed Kuwait’s commitment, as the current chair of the Gulf Cooperation Council, to collective security, unifying Gulf positions, and enhancing regional and international partnerships.

Secretary-General of the Gulf Cooperation Council Jasem Al-Budaiwi praised Saudi Arabia for hosting the meeting, describing it as “an indication of the Kingdom’s pivotal role in promoting international security and supporting multilateral dialogue to address regional and global challenges.” He also thanked Saudi leadership and Foreign Minister Prince Faisal bin Farhan for their “distinguished preparation and organization” of the event, which drew senior officials from across the globe.

The meeting aimed to provide a platform for exchanging perspectives on current regional and international security challenges, emphasizing the importance of dialogue and peaceful solutions in achieving just peace and sustainable development. Sheikh Fahad and the accompanying Kuwaiti delegation, including Ambassador Najeeb Al-Bader, Assistant Foreign Minister for GCC Affairs, departed Al-Ula on Wednesday after concluding their participation in the conference. — Agencies

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