AGP Executive Report
Last update: 2 hours agoCentral Bank Oversight: CBK issued new directives to tighten transparency in financial statements of electronic payment and exchange firms, including clearer partner-fund classification and extra rules for handling judicial requests tied to freezing customer money. Corporate Earnings: Petrochemical Industries Company (PIC) posted KD 23.8m net profit for FY2025/26 despite petrochemical and energy market headwinds linked to geopolitics. Public Works Contracts: Kuwait’s Ministry of Public Works plans to float 24 tenders and contracts in the current fiscal year under its sixth phase, including sewage network links for South Sabahiyah. Tobacco Crackdown: Kuwait will ban tobacco and nicotine sales to anyone under 21 from Jan 1, 2027, outlaw online sales/delivery and extend restrictions to e-cigarettes and heated tobacco. Digital Banking Skills: CBK launched the sixth cohort of its Cybersecurity Leaders Program to build specialized talent for the banking and finance sector. Airline Digital Upgrade: Kuwait Airways signed a KD 5.8m, three-year ERP contract to unify and modernize its administrative, financial and operational systems. Sports Tech Push: Kuwait’s Blue Shirt platform signed a cooperation agreement with the Public Authority for Youth and Sports to accelerate data-driven digital transformation in sports. Gold Update: Kuwait gold climbed with 24-karat around KD 43.6 per gram as global prices rose on softer US inflation and lower rate-hike expectations. Telecom Self-Check: CITRA urged residents to use the Sahel app’s “My Numbers” service to review all phone lines registered under their names. Humanitarian Move: Kuwait-backed voluntary return flights for Sudanese refugees began in Uganda, aiming to bring back over 1,000 people over about six weeks. Regional Security Context: US-Iran talks under the Islamabad MoU appear stalled as Hormuz tensions rise, with Kuwait and other Gulf states condemning attacks on ADNOC tankers.
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