Kuwait Financial News

Subscribe to enjoy similar stories. WASHINGTON—A smooth-faced 41-year-old Donald Trump settled in before a live studio audience assembled for The Oprah Winfrey Show and held forth on how America should be getting a cut of Kuwaiti oil. “Kuwait is not paying us for all the oil they’re sending out," said Trump, wearing a familiar solid red tie, as Oprah pressed him on his foreign policy views during the April 1988 interview.

KEC International will be in focus on Wednesday after the company announced that it has secured new orders worth Rs 1,236 crore in both domestic and international markets. According to an exchange filing, the company’s Transmission & Distribution (T&D) business has secured new orders for projects in both India and the Middle East. These include transmission line and substation orders in the UAE and Kuwait, as well as a substation order from a private TBCB player in India.

Ramadan, marked by fasting, prayers and acts of charity is a period of seeking forgiveness and taking time to reflect. The day begins with getting up before sunrise, morning prayers, and eating a pre-dawn meal called sehri while in the evening, the fast is concluded with an evening meal called Iftar which often comprises dates, fruits and other food items. Eid al-Fitr this year will be celebrated on either Sunday, March 30, or Monday, March 31, depending on the sighting of the moon in different parts of the world. On this special day, Muslims gather for prayers, visit family and friends, exchange gifts, give to those in need, and enjoy festive meals together. As the Islamic calendar follows the lunar cycle, significant dates shift forward by approximately 11 days each year. The sighting of the crescent moon marks the end of Ramadan and the beginning of Eid celebrations.

Leader of Opposition in the Upper House Mallikarjun Kharge asked the government the total expenditure incurred by Indian embassies on arrangements for the prime minister's foreign visits in the past three years. He also asked for visit-wise details of expenses under major heads such as hotel arrangements, community receptions, transport arrangements and other miscellaneous expenditures among others. The data on country-wise expenditure on foreign visits by the prime minister, including the expenditure on official, accompanying, security and media delegations, in 2022, 2023 and 2024 was shared in a tabulated form in his response. According to the data, an expenditure of Rs 22,89,68,509 was incurred on the visit of the prime minister to the US in June 2023, while the expenditure incurred was Rs 15,33,76,348 on the September 2024 visit to the same country.

The agency is implementing strict profiling measures for passengers heading to 15 countries such as Saudi Arabia, Iran, Iraq, Turkiye, Qatar, Azerbaijan, Kuwait, Kyrgyzstan, Russia, Egypt, Libya, Ethiopia, Senegal, Mauritania, and Kenya. According to a report submitted to the Lahore High Court (LHC) regarding a petition from a pilgrim denied travel to Saudi Arabia for Umrah, the FIA stated that travelers must possess a clear travel purpose, confirmed hotel bookings, and adequate financial resources. The FIA also mentioned that those traveling for Umrah should have sufficient religious understanding, as reported by Dawn.

Emirates is bringing forward the deployment of its Airbus A350 to Kuwait and Bahrain. Services will start 8 January, making them the second and third destinations to be served by the airline's newest aircraft, according to a press statement released by the air carrier today.

Kuwait Football Association officially announced that it has submitted a bid to host the 2031 AFC Asian Cup, following the conclusion of the ongoing Arabian Gulf Cup, which is currently being held in Kuwait until January 4th. Sheikh Ahmed Al-Yousef, President of the Kuwait Football Association, confirmed today that several arrangements are underway to have Fahaheel Club Stadium ready by February 2025, in addition to preparing a number of other stadiums.

India and Kuwait signed four Memorandum of Understandings in the areas of defence, sports and cultural cooperation during Prime Minister Narendra Modi's visit to the Gulf nation, the Ministry of External Affairs said on Sunday. MEA Secretary CPV and OIA, Arun Kumar Chatterjee during a special briefing today, said the MoUs are expected to deepen the multifaceted bilateral relationship as well as open avenues for newer areas of cooperation. «Following the delegation level talks today, four bilateral documents were signed during the visit. The first one is a Memorandum of Understanding on defence cooperation, the second one is a Cultural Exchange program for the years 2025-2029, the third is an executive program on cooperation in the field of sports for the period 2025- 2028. We also had Kuwait joining as a member of the International Solar Alliance (ISA),» he said.

Indian diaspora in Kuwait on Saturday, stated that India of the future would be the hub of global development as well as the growth engine of the world. While speaking at the «Hala Modi» community event at Kuwait's Sheikh Saad Al-Abdullah Indoor Sports Complex, PM Modi highlighted India's rapid transformation in various fields, including technology, infrastructure, and sustainability. «Today, India is the fifth-largest economy in the world. We lead the world in fintech and have the third-largest startup ecosystem globally. India is also the second-largest mobile manufacturing country in the world,» PM Modi said.

Narendra Modi praised India and Kuwait's strong commercial connections dating back to the nineteenth century, as well as IMEEC as an idea that provided the globe with new direction. Addressing the Indian diaspora in Kuwait City, Modi reflected on the two nations' common ambitions, Viksit Bharat and New Kuwait, and emphasised that there were several potential for India and Kuwait to collaborate. India's skill sets and creativity might lead to new collaborations between the two nations. He said that Ayurveda was assisting the globe with wellbeing while underlining India's contributions to the world in terms of science and innovation.

The remarks came while he was addressing the Indian community in Kuwait. Modi, who arrived in Kuwait just hours earlier, expressed a deep sense of connection and belonging to the community, describing the gathering as a "Mini Hindustan" brought together by shared values, culture, and pride. «I’ve just arrived in Kuwait 2-2.5 hours ago, and from the moment I set foot here, I’ve felt an extraordinary sense of warmth and belonging. You all have come from various states of India, but seeing you here feels like a 'Mini Hindustan' has gathered before me,» said PM Modi, addressing the vibrant Indian diaspora at a community event.

As the first programme of his visit to Kuwait, Modi visited a labour camp in Mina Abdullah area of Kuwait with a workforce of around 1,500 Indian nationals. He interacted with a cross-section of Indian workers from different states of India, enquired about their well-being, also sat at a table with some of them at the Gulf Spic Labour Camp when snacks served.

UAE) and Kuwait at the Dubai International Cricket Stadium, Dubai at 8 pm IST. Oman had become the inaugural champions of the Gulf Cricket T20I Championship after beating UAE by five wickets in the final in September 2023.

Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, the Amir of the State of Kuwait. This will be the first visit of the Prime Minister any Indian Prime Minister to Kuwait after 43 years. PM Modi will attend the opening ceremony of the 26th Arabian Gulf Cup as a special guest of the Emir of Kuwait. He will also interact with the Indian diaspora at the 'Hala Modi' community event at Sheikh Saad Al Abdullah Sports Complex.

Subscribe to enjoy similar stories. TEL AVIV—Israel’s defense minister signaled the country is planning to keep tighter and longer-term security control over territory just across its border in Syria and in Gaza, taking advantage of its weakened neighbors to better insulate itself from possible threats. Israel seized control of the 155-square-mile buffer zone separating it from Syria after the Assad regime that had ruled the country for more than half a century collapsed just over a week ago.

Kuwait is also home to a large Indian diaspora and was a key supplier of liquid medical oxygen to India during the deadly Delta wave of Covid in 2021. There are plans to put in place a maritime component to the partnership. Regional developments including the situation in Gaza and Syria are expected to figure in the discussion agenda during the PM’s visit.

Gulf Air flight, GF005, was unexpectedly diverted. The passengers have accused the airline of neglect, claiming they were left without food or assistance during the long wait. A video shared on social media shows frustrated passengers arguing with airport authorities.

Subramanian Sarma, Member of the Board, L&T, says there are currently two to three key themes: a) Ongoing development of traditional fossil fuels, particularly oil and gas; b)collective efforts to enhance green initiatives and reduce carbon footprints, including opportunities in blue and green ammonia, renewable energy, and gas-to-power projects; c)exploration of monetizing and increasing value through petrochemical facilities. Each theme offers significant opportunities, with current prospects estimated between $10 billion and $12 billion. L&T will need to monitor these developments in the coming quarters. Sarma says they are also looking at gas to power opportunities in the Middle East. They have a bit of a preferred status there with one of the main developers with whom we have been working, and so something might unfold. All in all, that business is looking much more buoyant. At least for the next two-three years, he sees a good momentum. How are things looking up because we were just talking with the management of KEC and he pointed out how the power transmission orders and the other EPC orders seem to be picking up in that region. Is that something you are witnessing as well – increased expenditure when it comes to public infrastructure as well as the entire energy space in the Middle East? Subramanian Sarma: Yes, it is very consistent with what the KEC management has said.

Saudi Arabia and allied oil producing countries say they will postpone a plan to gradually increase oil output until the end of the year