AGP Executive Report
Last update: 4 hours agoSovereign Credit Watch: Fitch affirmed Kuwait’s long-term sovereign rating at AA- with a stable outlook, citing exceptionally strong fiscal and external positions, while flagging that the US-Iran conflict and Strait of Hormuz disruptions could still weigh on growth and transit conditions. Aviation Reform: Kuwait Airways is now fully state-owned under a new decree law, with management saying the shift to a shareholding structure will boost governance, flexibility, and plans for fleet and route expansion. Competition Policy Push: Kuwait’s National Competition Policy project is reported at 96% completion (KD 8.6m), aiming to curb monopoly practices and strengthen rules to attract more foreign direct investment. Emergency Funding: Kuwait’s private sector added $12m to the Kuwait Emergency Response Fund, with contributions from banks, corporates, and insurers routed through KFAED to speed disaster response. Banking Digital Upgrade: NBK highlighted upgrades to customer experience via the NBK Mobile Banking App, expanding faster, secure transactions. Regional Connectivity: Jazeera Airways launched its first direct Kuwait–Deir Ez-Zour flight, adding scheduled links between Kuwait and three Syrian cities. Maritime Tensions: Kuwait condemned an Iranian missile attack on an ADNOC-affiliated tanker in the Strait of Hormuz, calling it a violation of international law and a threat to navigation and energy supplies.
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