The Cabinet yesterday approved the 2020/2021 budget projecting yet another huge deficit for the sixth year in a row due to lower oil prices and production as Kuwait complies with the OPEC+ output cuts to support prices. The deficit is projected to reach KD 7.72 billion, even higher than the […]
Category: Kuwait Economy
Kuwait economy news
Hundreds protest in Lebanon as crisis deepens
Hundreds protested across Lebanon on Saturday to denounce a crippling economic crisis and the political deadlock that has left the country without a government for over two months. Chanting anti-government slogans in the capital Beirut, the northern city of Tripoli and the southern city of Nabatieh, they also denounced a […]
Middle East tensions could impact markets after a strong end to 2019
Financial markets enjoyed a strong end to 2019 with the US S&P equity index up 3 percent m/m and 10-year treasury yields edging back above 1.9 percent as optimism grew over the outlook for global growth amid mildly encouraging economic data and the agreement of a ‘phase one’ trade deal […]
Gold reaches $1,559 as market observes tensions
The price of gold surged to $1,559 per ounce, rising as much as 16 percent in the wake of rising tensions between Iran and the United States. The price of an ounce of gold is fluctuating between $1,611 to 1,559, according to a report issued by ‘Kuwait Sabaek Company,’ citing […]