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New financing law to boost investment and strengthen economy

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KUWAIT: Undersecretary of the Ministry of Finance Aseel Al-Munifi affirmed on Monday that the recently enacted Law No 60 of 2025 on financing and liquidity aims to stimulate the economic environment, attract foreign investments and enhance developmental and economic returns for the state. The law, which came into effect on March 27, also seeks to bolster the banking sector and improve fiscal stability.

Speaking at an introductory conference on the new decree-law, Al-Munifi explained that the legislation equips the government with modern financial tools, enabling access to both local and international financial markets. These tools, she said, will help secure funding for key development projects. “The law will support the restructuring of government financing, reduce borrowing costs, and strengthen Kuwait’s credit rating,” she said. “It reflects positively on the state’s borrowing capabilities under competitive conditions and helps build up financial reserves to meet commitments amid evolving economic circumstances.”

Al-Munifi noted that the new law will serve as an essential mechanism for financing major national projects, particularly in infrastructure, housing, education, and healthcare — sectors included in the government’s general budget for the next five years. She also revealed that preparations for the issuance of the long-anticipated Sukuk Law have been finalized. “The draft has been completed by the Ministry and is currently under discussion in relevant Cabinet committees. It will soon proceed through the constitutional procedures for final approval,” she said.

Meanwhile, Director of the Public Debt Department at the Ministry of Finance, Faisal Al-Muzaini, announced that Kuwait is returning to the financial markets — both domestic and international — for borrowing in the 2025/2026 fiscal year. He described the move as the largest financial market entry in over eight years, implemented under Decree-Law No. 60 of 2025.

Al-Muzaini hailed the law as a landmark in public finance reform, stating it provides the government with a robust legal framework for managing public debt. The framework allows for debt maturities of up to 50 years and sets a borrowing ceiling of KD 30 billion (approximately $92 billion).

He added that the Ministry of Finance has outlined a flexible strategy to engage confidently with financial markets while prioritizing competitive financing costs and diversifying the investor base both geographically and institutionally. One key focus, he said, is developing the local debt market by establishing a yield curve that will serve as a benchmark for future issuances. 

“This law sends a strong message of fiscal discipline and credibility to global markets,” Al-Muzaini said. “It is expected to contribute to enhancing Kuwait’s credit profile, drawing wider investor interest, and advancing the country’s transition toward a diversified economy.” The Public Debt Management Committee, established in 2016, plays a central role in overseeing this strategy. Reporting directly to the Minister of Finance, the committee includes representatives from the Ministry of Finance, the Central Bank of Kuwait, and the Kuwait Investment Authority. It is tasked with approving the annual financing strategy and advising the Minister on public debt matters. – KUNA

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Kuwait, UK leaders discuss strengthening bilateral ties

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Crown Prince, Starmer exchange calls • Coast Guard discusses security with UK official

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.

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

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Kuwaiti PM rep. reaffirms commitment to dialogue, regional security

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 ALULA, Saudi Arabia: Representing His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, First Deputy Prime Minister and Interior Minister Sheikh Fahad Yusuf Saud Al-Sabah stressed Wednesday that Kuwait’s participation in Munich Security Conference (MSC) Leaders Meeting, reflects commitment to regional dialogue and cooperation.

In remarks to KUNA, on the sidelines of the meeting in AlUla city, Sheikh Fahad condemned Israeli aggression against Qatar and Gaza as a violation of international law, emphasizing that the assault posed a direct threat to Gulf collective security and broader regional stability, urging urgent international attention.

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He noted that the meeting provided a vital platform to discuss pressing global and regional security challenges, particularly the escalating conflicts and humanitarian tragedies in Gaza and the occupied Palestinian territories, where participants agreed sustainable security remains impossible amid ongoing Israeli aggression.

He warned of grave consequences from escalating conflicts caused by Israeli occupation’s aggression, stressing risks to Gulf stability, while noting deliberations also addressed maritime and energy security, non-proliferation, food and water security, economic challenges, and shared transnational threats facing the international community.Reaffirming Kuwait’s commitment under its current presidency of the GCC, Sheikh Fahad stressed the importance of bolstering collective security, unifying Gulf positions, and strengthening regional and international partnerships, while praising Saudi Arabia’s warm hospitality and MSC’s role in organizing this vital meeting. — KUNA

 

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Deliveroo Kuwait unveils exclusive global dishes

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KUWAIT: Deliveroo Kuwait is serving up a global culinary journey with the launch of the new dishes from “The Exchange Program”. The first-of-its-kind initiative sent four of Kuwait’s top chefs abroad to explore viral food trends. Each created a fusion dish inspired by their journey, available exclusively on Deliveroo.

The program kicked off with Chef Khaled Al-Baker of Young Po, who took inspiration from the bustling streets of Seoul, South Korea, to introduce Rabokki. The dish combines chewy rice cakes and ramen noodles in a spicy, savory sauce, bringing the authentic flavors of Korean street food straight to Kuwait.

From Rome, Italy, Chef Faisal Al-Nashmi of San Ristorante is introducing the Maritozzi Box. Featuring indulgent cream-filled buns, the dish captures the essence of Italy’s sweet traditions while adding Chef Al-Nashmi’s modern touch. Chef Sawsan Daana of Matbakhi is channeling the spirit of Athens, Greece, with the Savory Souffra. Inspired by the communal dining tables of the Mediterranean, this dish celebrates togetherness through a vibrant spread of flavors that highlight the richness and warmth of Greek cuisine.

Finally, OH G!’s Chef Ghalia Hayat is bringing a taste of London, England, with the Donut Pudding Ice Cream. Reinventing classic British desserts, this whimsical dish brings together Hayat’s salted caramel pudding ice cream with a decadent chocolatey fudge swirl and chunks of donut, to deliver a unique sweet experience that will surprise and delight.

Deliveroo Kuwait’s Exchange Program is more than just a menu — it’s a cultural experience. By spotlighting Kuwaiti chefs and their creative reinterpretations of international dishes, the program bridges food trends with local talent, inviting customers to explore the world without leaving their homes. All dishes are available now and for a limited time, exclusively on Deliveroo Kuwait.

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