AGP Executive Report
Last update: 10 hours agoWage Protection: Kuwait’s Central Bank launched the Kuwait Wage Protection and Payment System (KWPS), a centralized platform to route private-sector salaries through local banks, boosting speed, transparency and compliance while enabling regulators to spot non-payment early. Capital Markets: Boursa Kuwait won “Best Exchange” honours for the Middle East, plus awards for ESG and financial literacy, as the exchange pushes new products and reforms that helped it upgrade from frontier to emerging-market status. Oil & Shipping: Strait of Hormuz flows are recovering, with tanker traffic and exports rising in September, though volumes remain below pre-war levels—keeping pressure on regional energy costs and logistics. Geopolitics & Risk: Kuwait condemned escalation in the West Bank and renewed calls for UN action to protect Palestinians, while the wider region remains focused on retaliatory threats tied to the Iran conflict. Gold & Inflation Watch: Kuwait gold prices slid as higher oil prices and Hormuz uncertainty lifted expectations of further US rate pressure. Business & Tech: Kuwait’s “Sanad AI” at Kuwait Oil Company is using generative AI to help engineers quickly access decades of drilling know-how. Tourism & Growth: Kuwait highlighted ecotourism potential tied to its natural and geological assets, aligning with World Tourism Day themes. Finance Deal: ASB Capital was appointed joint lead manager and bookrunner for Kuwait International Bank’s $500m five-year sukuk, drawing orders above $1bn. Startups: Amaani (AÏZA beauty) raised $5m Series A to expand across Saudi Arabia first, then Kuwait and Qatar. Travel Ops: Kuwait International Airport is operating via Terminals 4 and 5 with Terminal 1 still closed, with minimal disruption reported. Regulation Watch: A Kuwait court struck down delivery-app penalty provisions (Article 15) in talabat-related litigation, raising concerns over enforcement.
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