Kuwait includes Hezbollah, entities in the list of sanctions
The updated list includes Hezbollah, the Lebanon-based Al-Qard Al-Hassan Association, a Lebanese national identified only as A.M., a Tunisian national identified as A.F., and a Somali national identified as A.M. This step reflects Kuwait's full commitment to enforcing Security Council resolutions aimed at combating terrorism, enhancing financial transparency, and preventing the misuse of the financial system to support terrorist activities.
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Arab Times
an hour ago
- Arab Times
Over KD1 mln collected for Gaza in hours
KUWAIT CITY, Aug 3: The relief campaign for the Palestinian people in the Gaza Strip was launched under the directives of the wise political leadership and reflects Kuwait's commitment to supporting the Palestinian people and providing urgent humanitarian aid. So far, the 'Gaza Relief: Kuwait by Your Side' campaign has raised KD1,080,440 in donations from around 29,000 donors – an affirmation of the deep-rooted humanitarian and solidarity values in Kuwaiti society. Iman Al-Enezi, acting Director of the Charitable Societies and Endowments Department at the Ministry of Social Affairs, announced the launch of the campaign on Sunday morning. Al-Enezi revealed in a statement to Al- Akhbar Channel that the campaign is in coordination with the Ministry of Foreign Affairs, with the participation of the Kuwait Red Crescent Society (KRCS) and more than 51 accredited charities. She said a special link for donations had been opened, as announced by the ministry on its social media platforms, while praising the great response the campaign has been witnessing since its launch. She added that this campaign is an urgent response to the escalating humanitarian needs in the Gaza Strip, to provide food, medical supplies, and relief support to those affected. She disclosed that fundraising will continue until Tuesday through official channels approved by each participating organization. She clarified that at the end of the campaign, participating societies and charities are required to purchase food supplies exclusively from the Kuwait Flour Mills and Bakeries Company, according to Cabinet Resolution No. 1461. She said all in-kind donations will be handed over to KRCS; which will be responsible for delivering them to the areas surrounding Palestine, in coordination with the Ministry of Foreign Affairs and the Ministry of Defense through the air bridge designated for this purpose. She also stressed that this initiative, implemented under the directives of the political leadership, is supported directly by Minister of Social, Family and Childhood Affairs Dr. Amthal Al-Huwailah.
Kuwait Times
4 hours ago
- Kuwait Times
GCC market sees $92.04bn in primary issuances in H1
KUWAIT: In its Fixed Income Report, Kuwait Financial Centre (Markaz) states that primary debt issuances of Bonds and Sukuk in the Gulf Cooperation Council (GCC) countries amounted to $92.04 billion through 215 issuances during H1 2025, a 5.5 percent decrease from the same period last year, where issuances in H1 2024 amounted to $97.36 billion. Issuances by Geography: Saudi-based issuances led the GCC during H1 2025, raising $47.93 billion through 71 issuances, down from $59.73 billion in H1 2024 a decrease of 19.8 percent, and representing 52.1 percent of issuances during the year. UAE-based issuances ranked second, with $24.03 billion through 69 issuances, representing 26.1 percent of the market, an increase of 22.2 percent from the same period last year. Qatari entities were the third largest issuers in terms of value, with $10.0 billion issued through 58 issuances, representing 10.9 percent of the issuances over the period. Bahraini issuers follow, with a total issuance size of $5.62 billion through 7 issuances, a 49.7 percent increase from the same period last year. Kuwaiti issuances recorded a 48.0 percent increase from the same period last year, recording a total value of $3.39 billion through 4 issuances. Omani entities recorded the lowest value of issuances during the year, with $1.08 billion raised through 6 issuances, representing 1.2 percent of the total value of issuances. Sovereign vs Corporate: Total GCC corporate primary issuances increased by 67.7 percent in H1 2025, amounting to $60.20 billion raised, compared to $35.91 billion raised in H1 2024. Corporate issuances represented 65.4 percent of total issuances for the first half of 2025, contrasting with the preference of issuances in H1 2024 where more sovereign entities raised capital (corporate issuances H1 2024: 36.9 percent). Government related corporate entities raised $11.2 billion through 11 issuances during the year, an increase of 1.8 percent from H1 2024 ($11.0 billion through 10 issuances). Total GCC sovereign primary issuances decreased by 48.2 percent in H1 2025, raising $31.85 billion throughout the year, representing 34.6 percent of total issuances. Conventional vs Sukuk: Conventional issuances increased by 7.8 percent in H1 2025 compared to H1 2024, raising a total of $51.61 billion for the year. Sukuk issuances, meanwhile, decreased by 18.2 percent in H1 2025, resulting in a total value of $40.43 billion for the year so far. As for issuance preferences, H1 2025 saw an increased appetite for conventional issuances in the GCC, representing 56.1 percent of total issuances for the year. This is a change in issuance preferences from H1 2024, where more Sukuk were issued than conventional bonds. Sector Segmentation: The Financial sector led the bond and sukuk issuances in H1 2025, with total value of $40.1 billion through 167 issuances representing 43.6 percent of total issuances. Government issuances follow, with $31.9 billion through 25 issuances, representing 34.6 percent of total issuances. This represents an increase for the financial sector (31.1 percent) and a decrease for government issuances (-48.2 percent) when compared to the same period last year. The energy sector follows, with $8.6 billion through 9 issuances, representing 9.4 percent of total issuances, with the remaining sectors together representing a small portion of total issuance (12.5 percent). Maturity profile: In H1 2025, primary issuances with less than 5-year tenors represented 46.9 percent of GCC debt capital markets with a total value amounting to $43.2 billion through 154 issuances. Primary issuances with 5-10-year tenors followed, raising $31.1 billion through 43 issuances, representing 33.8 percent of total issuances. Primary issuances with 10-30-year tenors represented 9.6 percent of GCC debt capital markets with a total value of $8.8 billion through 5 issuances during the year. One issuance came in with a maturity greater than (GT) 30 years with a value of $1 billion, while perpetual issuances saw an increase in both the size and number of issuances when compared to H1 2024, with a total value of $8.0 billion through 12 issuances. Issue size profile: During H1 2025, GCC primary issuances ranged in size from $2.0 million to $5.0 billion. Issuances with issue size of $1 billion or greater raised the largest amount, totaling $54.5 billion through 32 issuances and representing 59.2 percent of the total amount issued in the GCC. Issuances sized between $500 million and $1 billion followed, with a total issuance size of $27.0 billion through 44 issuances. The highest number of issuances was under $100 million issue size, where there were 105 issuances that raised a total amount of $3.2 billion during H1 2025. Currency profile: US dollar-denominated issuances led the GCC bonds and sukuk primary market again in H1 2025, raising a total of $73.1 billion through 146 issuances, representing a substantial 79.4 percent of the total value raised in primary issuances during the year so far. The second largest issue currency was the Saudi Riyal (SAR), where SAR denominated issuances raised a total of $7.0 billion through 8 issuances. As for currencies bucketed under 'Other' which totaled $2.0 billion, the Hong Kong Dollar (HKD) represented 0.74 percent of total issuances with a total value of $682 million through 20 issuances. Rating: In terms of value, a total of 74.0 percent of GCC Conventional and Sukuk bonds were rated in H1 2025 by at least one of the following rating agencies: Standard & Poor's, Moody's, Fitch and Capital Intelligence, an increase from H1 2024 (57.2 percent of all issuances rated). Issuances rated within the Investment Grade accounted for 67.7 percent of the total issuances during the year, while Sub-Investment Grade accounted for 6.3 percent of rated bonds.
Kuwait Times
18 hours ago
- Kuwait Times
Heathrow unveils £49bn expansion plan for 3rd runway
LONDON: London's Heathrow Airport has unveiled a £49-billion ($65 billion) expansion plan, including the costs of building a long-awaited third runway, approved by the UK government after years of legal wrangling. The runway would cost £21 billion, with flights expected to take off within a decade, while the rest of the privately-funded investment will go toward expanding and modernizing the airport. Heathrow, Europe's busiest airport by passenger numbers, said the expansion would provide at least 30 new daily routes, more domestic connections and improved flight times. The increased capacity would almost double the number of annual passengers from 84 million currently to up to 150 million passengers annually. 'It has never been more important or urgent to expand Heathrow,' said chief executive Thomas Woldbye. 'We are effectively operating at capacity to the detriment of trade and connectivity,' he added. Despite fierce opposition from environmentalists and local residents, London mayor Sadiq Khan and some Labor MPs, the Labor government backed the new runway in January in a bid to boost UK economic growth. It would be a rare expansion in Europe, where countries are split between efforts to reduce greenhouse gas emissions and the needs of a strategic sector that has seen demand grow. Heathrow has submitted its proposal for the 3,500 metre runway to the UK government, which has also invited a rival proposal. Heathrow's proposal includes £12 billion to fund a new terminal and £15 billion for modernization. 'A third runway and supporting infrastructure can be ready within a decade, and the full investment across all terminals would take place over the coming decades,' Heathrow said in a statement. UK Prime Minister Keir Starmer is determined to deliver major infrastructure projects to revive the UK economy that has struggled to take off since the party came to power a year ago. The government is expected to also back expansion at Gatwick airport, south of the capital, in October - having recently approved upgrades to London's Stansted, Luton and City airports. Britain's Supreme Court ruled at the end of 2020 that Heathrow could build the third runway, overturning a legal decision to block construction on environmental grounds. Local residents 'will see their lives put on hold for a few more years while more money and time is wasted on a doomed scheme,' said Douglas Parr, policy director for Greenpeace UK. He added the plans 'export more tourism wealth out of the UK in the most polluting way possible.' Arora Group, one of Heathrow's largest landowners, on Thursday said it will submit a rival bid to build a shorter third runway, promising lower costs and less disruption to local residents and the environment. 'This is the first time the government has invited a competing proposal for Heathrow expansion,' the UK-based property and hotel firm said in a statement. British Airways owner IAG's chief executive Luis Gallego said the rival bid was 'credible' as the group announced its net profit jumped 44 percent to 1.3 billion euros ($1.5 billion) in the first six months of the year on 'strong demand'. 'We always think that competition is good to improve things, and we have seen that in commercial aviation in the past,' he added. Airport-owner Heathrow's latest investment proposal comes in addition to plans to invest £10 billion over the next five years in upgrades to boost passenger numbers, which would be largely funded by higher charges on airlines.- AFP
