Latest news and articles about Kuwaiti economy from NEX English
The Kuwaiti oil refining industry has been significantly impacted by the U.S.-Iranian war, leading to the closure of the Strait of Hormuz and a notable decline in production and exports. This situation raises concerns about the future of the oil sector in the country.
Kuwaiti Prime Minister Sheikh Ahmad Nawaf Al-Sabah chaired a meeting to discuss a series of major development projects aimed at boosting the national economy. The meeting, held at the Seif Palace, was attended by several ministers and relevant officials.
Kuwait's Mabani Company continues to implement major projects across the country, overcoming regional challenges. The company aims to strengthen its position in the real estate market through innovative developments.
Trolley General Trading announced a profit of <strong>2.44 million Kuwaiti Dinars</strong> for the first quarter of 2026, marking an <strong>83%</strong> increase compared to the same period last year. This performance reflects the company's strong market presence amid current economic conditions.
Kuwait has announced the launch of its first local business platform aimed at enhancing economic activity and supporting entrepreneurs. This initiative is part of the government's efforts to foster innovation and create a conducive work environment.
Kuwait Oil Company reported a fire at its headquarters following a drone attack late yesterday. The incident has raised significant concerns about the security of vital facilities in the country.
The price of Kuwaiti oil has seen a significant increase of <strong>$8.10</strong>, reaching <strong>$118.93</strong> at the close of trading on Friday. This rise reflects the considerable volatility in global oil markets influenced by various factors.
The Shuwaikh port in Kuwait was targeted by hostile drones, resulting in material damage but no reported injuries. The Kuwait Ports Authority confirmed the incident via social media.