Language Arabic is the official language, although English is widely used and understood. It is relatively easy to get around using just English, and many business meetings are conducted in this language. Any correspondence with government offices should be sent in Arabic. Other widely spoken languages include Hindi, Farsi, Urdu and Filipino. Business Hours The work week runs from Sunday to Thursday,…
While it is common knowledge that laws in the Middle East include certain restrictions on foreign parties doing business that do not otherwise apply to citizens, significant strides have been made in the region in recent years. These reforms have facilitated foreign investment and participation in businesses. Kuwait has led the way with a number of reforms and was a pioneer with the promulgation of…
Situated between Iraq and Saudi Arabia at the north-western corner of the Gulf, Kuwait operates as a constitutional monarchy, and is a founding member of both the GCC and the Organisation of the Petroleum Exporting Countries (OPEC). Led by a hereditary leader, the emir, it boasts the oldest directly elected Parliament among the Gulf Arab states. Despite its modest land size, Kuwait holds the world’s…
Viewpoint: Emir Sheikh Mishal Al Ahmad Al Jaber Al Sabah These words come in a time of mourning, in the midst of difficult circumstances, I meet you with tears in my eyes, a lump in my throat, overwhelmed by grief and pain. Words fail to express what is stirring in my heart, the feelings of sorrow and mourning for the loss of my brother and life-long companion, the late Emir, Sheikh Nawaf Al Ahmad…
Interview:Ahmed Jaber Al Eidan What are the challenges and opportunities in scaling up non-associated gas production in Kuwait? AHMED AL EIDAN: Expanding non-associated gas production represents a strategic shift towards diversifying domestic energy resources. Non-associated gas production reached 562m standard cu feet per day and will have a major boost when new Jurassic production facilities…
High global oil prices have enabled Kuwait to maintain a trade surplus despite the domestic political changes observed in recent years, measuring a GDP growth of 8.9% in 2022. Although 2023 saw the country’s GDP contract by 0.6% amid global headwinds, diversification efforts guided by New Kuwait 2035, new infrastructure developments in and beyond the hydrocarbons sector, and a push for privatisa
Despite predictions of declining hydrocarbon consumption, significant demand remains due to economic transformations and disruptive events like the Covid-19 pandemic and the Russia-Ukraine conflict. However, underinvestment in new production and regulatory challenges may affect the oil and gas industry. Investors and non-financial partners are seeking direct engagement with oil companies to assess…
In this Global Platform video, Talal Al Ajmi, CEO and Founder, VI Markets, talks about increasing the accessibility of trading. Financial markets have experienced significant changes compared to before the Covid-19 pandemic. Kuwait is no exception – trading is becoming more accessible, and the number of women traders is continuing to grow. New technologies are enabling people to trade more effectively,
