AGP Executive Report
Last update: 10 hours agoCorporate Results: Action Energy reported Q3 net profit up 20.3% to KD2.1 million, with nine-month profit rising 62.9% to KD6.5 million. Zain Group’s nine-month profit jumped 59% to KD304 million, helped by investment gains, while revenue reached a 17-year high. Oil and Gas: ADNOC Drilling won Kuwait Oil Company contracts worth up to $314 million to operate two offshore rigs for four years, with work expected to start in late 2027. Business Rules: Kuwait’s new commercial rules allow freelance businesses to operate without traditional premises, lowering a barrier for small operators. Boursa Kuwait also launched a fixed-income platform with KFH sukuk listings. Investment Strategy: Kuwait officials told a Geneva investment conference the country is pursuing a more diversified, competitive economy, with investment directed toward productivity, technology transfer and local jobs. Regional Risks: Gulf markets mostly rose as investors weighed hopes for Iran de-escalation against shipping threats. Allianz Trade estimates the war has caused more than $200 billion in physical damage across the Gulf, with cumulative economic losses reaching $790 billion by 2030.
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