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Exploration and diversification create opportunities in Kuwait's energy sector
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With about 6% of the world’s proven crude oil reserves and 1.34m citizens, Kuwait is a nation with a relatively small population that plays a major role in global energy markets. However, its reliance on a single commodity which is prone to significant fluctuations in value also presents challenges for the economy as a whole, and the energy sector in particular. According to estimates from…

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New housing developments help tackle high demand in Kuwait
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The impressive scale of Kuwait’s real estate sector can be seen from outer space in a time lapse video made from satellite images. These images show a new city in the country’s south being gradually reclaimed from the sea over the course of 15 years. Sabah Al Ahmad Sea City represents KD1.5bn ($5.1bn) worth of private investment by the La’ala Al Kuwait Investment Company to create an…

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Kuwait's government embraces change and innovation in ICT sector
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ICT sits at the heart of the government’s 2035 strategy, New Kuwait, launched in 2017, but Kuwait has already made great strides in the digital economy. In the “Global Information Technology Report 2016” by the World Economic Forum (WEF), the country was among the biggest risers, and regulatory reforms are being put in place to usher in an era where tech companies help speed up the evolution…

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Kuwait's telecoms sector adapts to increasingly digitised world
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Characterised by high penetration rates, early adoption of new technology and healthy average revenue per user (ARPU), the Kuwait telecommunications sector is a small but profitable market in which three major regional providers compete. Faced with the erosion of traditional voice and text revenue streams, all three companies are focusing on strategies to improve services while also monetising…

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Government plans to expand Kuwait's industrial sector
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The state-owned oil industry is by far the largest sector in Kuwait’s economy, representing more than half of GDP, 95% of exports and roughly four-fifths of state revenues. As oil and its byproducts are used to make more than 300,000 products globally, the country’s petroleum-based industries and petrochemicals hold significant growth potential. By comparison, non-petroleum industrial manufacturing…

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High spending power in Kuwait drives steady expansion in retail sector
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Driven by rapid urbanisation, the influx of the expatriate workforce, and a rising population of the young and affluent, Kuwait’s retail industry has grown dramatically over the past 10 years. High GDP per capita and the growing popularity of modern retail concepts and formats have also helped to position the country as a major hub for global luxury brands, earning Kuwait City a ninth place…

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Population growth in Kuwait fuels rapid development of health services
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Over the last five years Kuwait’s health care industry has gained significant momentum, adequately responding to rapid population growth by simultaneously addressing capacity constraints and improving the quality of health infrastructure. Despite the decline in oil prices and a budget deficit of over KD12bn ($39.7bn), health care spending remains a priority for the government. Although the…

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Kuwait's recent tax changes and regulations
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The question on the mind of many observers is what is next for tax in Kuwait and how will international tax regulations and practices impact business in Kuwait? As an expected outcome of the current economic changes, the geopolitical situation, the Arab Spring and the dramatic drop of oil prices, the GCC region has introduced new reforms. The proposed value-added tax (VAT) may compensate or…

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Kuwait introduces updated and amended laws
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Within the purview of the legal arena, 2016 has been remarkable for Kuwait. The year brought a raft of regulatory changes in a bid to harmonise commercial objectives with the international vista; the most notable of these changes being those surrounding Kuwait’s mercantile sphere, an area often at the centre of discussions for reform and development in the Gulf. As a result of the perpetual…

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Kuwait Hotel Listings
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JW MARRIOTT KUWAIT Al Shuhada Street, Safat T: +965 2245 5550 F: +965 2245 1889 www.jwmarriottkuwaithotel.com Rooms: 240 rooms and 73 suites. Business & Conference Facilities: 4 meeting rooms, 2 ballrooms, executive lounge and business centre. Health & Leisure Facilities: Health club, spa and indoor pool. Guest Services: Valet parking, concierge, airport transfers, visa processing and free…