United States

Ahmed Hagagy

UPDATE 1-Kuwait parliament approves new wealth fund law, delays debt reform

Aug 19 2020

KUWAIT, Aug 19 Kuwait's parliament on Wednesday approved a law to make transfers of state revenue to one of its sovereign wealth funds conditional on budget surpluses, a move which will provide more than $12 billion in much needed liquidity to the treasury.

Exclusive: Kuwait scrambles to boost coffers with up to $16 billion debt plan

Jul 19 2020

KUWAIT Kuwait plans to issue between 4 billion and 5 billion dinars ($13 billion to $16 billion) in public debt by the end of the fiscal year ending March 2021 if parliament approves a long-debated debt law, a government document seen by Reuters showed.

Kuwait asks parliament to approve debt law to help cover deficit: lawmaker

Jul 12 2020

KUWAIT Kuwait's government formally submitted a public debt law to parliament on Sunday which would allow it to borrow 20 billion dinars ($65 billion) over 30 years, including 8 billion dinars to help finance the current budget deficit, a legislator said.

Kuwait imposes 20-day 'total curfew' from May 10 to curb coronavirus

May 08 2020

KUWAIT Kuwait will enact a "total curfew" from 4pm (1300 GMT) on Sunday through to May 30 to help to curb the spread of the new coronavirus, its cabinet said in a statement on Friday.

Kuwait's Jazeera Airways lays off over a third of staff, not seeking state aid - chairman

Apr 30 2020

KUWAIT, April 30 Kuwait's Jazeera Airways has laid off over a third of its staff and can dip into its cash reserves to get through the coronavirus crisis, its chairman said.

Hard times shape speedy Saudi and Kuwaiti coronavirus response

Mar 30 2020

RIYADH/KUWAIT The world's last major coronavirus outbreak, in 2012, began in Saudi Arabia, where a faltering response allowed the Middle East Respiratory Syndrome (MERS) to kill several hundred people and spread across the region.

Kuwait gears up for coronavirus lockdown, minister urges calm

Mar 12 2020

KUWAIT Citizens and residents of Kuwait got ready for a virtual nation-wide lockdown by rushing to supermarkets as authorities took exceptional measures against coronavirus, including banning all commercial passenger flights starting Friday.

Kuwait and Saudi Arabia start work to resume oil output from Khafji: sources

Feb 02 2020

KUWAIT Kuwait and Saudi Arabia have started preparation work to resume crude oil production from the al-Khafji oilfield jointly operated by the two countries, with initial output expected around the end of February, two industry sources said.

UPDATE 1-Kuwait deficit to widen with 2020-2021 budget on lower revenues

Jan 14 2020

KUWAIT, Jan 14 Kuwait expects a budget deficit of 9.2 billion dinars ($30.33 billion) in the fiscal year starting on April 1 after it has deposited 10% of total revenue into the country's sovereign wealth fund, government figures released on Tuesday showed.

Qatar to supply Kuwait with 3 million tonnes of LNG a year

Jan 05 2020

KUWAIT State-run Qatar Petroleum (QP) said on Sunday it had signed a 15-year agreement to supply Kuwait with up to 3 million tonnes of liquefied natural gas (LNG) per year.

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