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Analysis

Cities employ cooling technologies to mitigate effects of climate change
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With temperatures in cities set to rise in the coming decades, many public and private players in emerging markets are looking to tackle the challenge of extreme heat through technology, sustainable building techniques and the expansion of urban green spaces. Heat Consequences The Covid-19 pandemic helped spur the growth of smart cities, with governments tapping into data-collection infrastructure…

Analysis

GCC rail developments strengthen trade and connectivity infrastructure
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With the announcement of high-profile railway projects in 2023, Kuwait has taken significant steps towards improving its internal and external transport infrastructure. While fluctuations in oil prices could potentially pose challenges moving forwards, positive political and economic dynamics in and around the Gulf region bode well for Kuwait’s plans. Connecting Kuwait In January 2023 the Public…

Analysis

Alternative energy production accelerates amid the energy transition
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The energy transition continued apace in 2022 despite Russia’s invasion of Ukraine in February of that year, ongoing disruptions to supply chains and inflationary pressures – all of which translated into high energy prices around the globe. However, sustained high prices may mark an inflexion point in shifting the global energy system away from a dependence on hydrocarbons and towards lower-cost…

Analysis

GCC public offerings increase and enhance investment appeal
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The GCC saw a rise in initial public offerings (IPOs) in 2022 despite volatility in secondary markets. The total number of IPOs in the region increased from 20 in 2021 to 48 in 2022, while proceeds from GCC issuers increased by 211% from $7.5bn to almost $23bn over the same period. In 2023 there were 47 listings on GCC exchanges, generating $10.6bn in proceeds. The number of successful IPOs in the…

Analysis

Kuwait's new counterparty system is expected to attract investment
OBG
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As part of its Market Development Project (MDP) – which aims to boost listings, as well as increase the volume of local and international trading – Boursa Kuwait is putting the final touches on a series of initiatives that are expected to greatly expand the range of products and services it offers. Central to this is a new central counterparty (CCP) system that is scheduled for launch in the first…

Analysis

Kuwaiti financial services prioritise ESG considerations for sustainability goals
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In tandem with growth in the global sustainable investment market, the Kuwaiti government has championed sustainable development, particularly in finance. Despite a decline in the US during the 2020-22 period, financial assets related to environmental, social and governance (ESG) considerations have experienced growth elsewhere, aligning with international initiatives such as the UN Sustainable Development…

Analysis

Why decentralised finance could facilitate GCC economic diversification
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As GCC countries look to harness new forms of financial technology (fintech), expand services and improve financial inclusion, governments are embracing decentralised finance (DeFi) and attracting cryptocurrency companies. DeFi – peer-to-peer financial services with no central authority or intermediary involved in trading, lending and investing – is seen by GCC countries as an opportunity to diversify…

Analysis

GCC cooperation and innovation improve food security
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Countries in MENA have been intensifying efforts to increase their food security, withRussia’s invasion of Ukraine the most recent geopolitical event to underlinethe fragility of global supply chains, as well as the importance of boosting domestic agricultural output. Together, Russia and Ukraine account for some 29% of the world’s wheat supply, pointing to thesignificant risk…

Analysis

Gulf countries adopt fiscally stringent policies amid high oil prices
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As oil prices moderate from recent highs, countries in the Middle East are following divergent fiscal paths in their efforts to generate sustainable growth. For FY 2023/24 Kuwait anticipates revenue of KD19.5bn ($63.4bn), primarily driven by oil. During the same period the government’s planned expenditure of KD26.3bn ($85.6bn) allocates 80% to salaries and subsidies, 9% to capital expenditure and…

Analysis

Potential reforms in Kuwait aim to boost economic resilience
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Kuwait entered 2024 in a generally robust economic position thanks to improved fiscal and external balances. Following a formal change in executive leadership in late 2023, policymakers have the opportunity to build on recent gains to foster long-term, sustainable growth – provided they can navigate the prevailing challenges in the domestic and global markets. National & Global Context Kuwait’s…