Latest news with #MEED
Time of India
3 hours ago
- Business
- Time of India
Kuwait has no natural lakes or rivers: Here's how the nation stays afloat
With zero natural rivers or lakes, Kuwait depends almost entirely on seawater desalination to meet its water needs/Image: Renderhub TL;DR: Kuwait is one of the only countries in the world without a single natural lake or river. The country relies heavily on desalination plants and imports to meet its freshwater needs. Despite geographic limitations, Kuwait has built one of the world's largest per-capita water systems. Kuwait's shimmering skyline and bustling urban centres sit on a desert landscape with one defining characteristic: the total absence of natural freshwater bodies. It has no rivers, no lakes, and no perennial streams. In fact, the country holds the rare distinction of being among the very few globally with zero internal renewable freshwater resources. So, how does a modern nation keep its taps running, crops growing, and population hydrated in such an arid setting? No Rivers, No Problem: According to the United Nations Food and Agriculture Organization (FAO), Kuwait has no natural freshwater resources such as lakes or rivers. It receives less than 120 mm of rainfall annually, most of which evaporates quickly due to high temperatures. Unlike countries with mountainous terrain or underground aquifers, Kuwait's flat, arid geology provides little to no groundwater that is fresh enough to be used. Instead, the country leans almost entirely on one of the most expensive and energy-intensive technologies: seawater desalination. How Desalination Became Kuwait's Lifeline Since the 1950s, desalination has been the cornerstone of Kuwait's water strategy. The first plant began operating in 1953, and over the decades, the infrastructure has expanded dramatically. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Swelling and internal bleeding in the brain, help this baby Donate For Health Donate Now Undo Today, more than 90% of Kuwait's drinking water comes from desalinated seawater pumped from the Arabian Gulf and treated in massive coastal facilities. The country now operates multiple desalination plants, including the Shuwaikh, Doha East, and Az-Zour facilities. According to MEED (Middle East Economic Digest), the Az-Zour North complex is one of the largest in the region, producing over 480,000 cubic meters of water per day. Importing and Rationing: Secondary Strategies While desalination remains the primary method, Kuwait supplements its needs through water imports and recycling wastewater for industrial and agricultural use. In recent years, the government has also introduced smart metering and public awareness campaigns to reduce waste and promote conservation. Additionally, the Ministry of Electricity and Water has encouraged the use of greywater systems in commercial buildings and new residential developments. A Global Outlier In a 2023 World Bank report on water security in the Middle East and North Africa, Kuwait was singled out as having zero cubic kilometers of internal renewable water resources per year, making it one of the most water-stressed countries in the world by geography. Even countries like the UAE and Bahrain, which also rely heavily on desalination, have some groundwater reserves or seasonal wadis. Kuwait, on the other hand, depends nearly 100% on human-made systems to provide every drop of fresh water. Resilience Through Infrastructure Despite these extreme limitations, Kuwait maintains one of the highest per-capita water consumption rates in the world, a testament to its advanced water infrastructure. The country continues to invest in sustainable technologies, including solar-powered desalination, advanced reverse osmosis systems, and wastewater reuse for agriculture and industry. These innovations are not just about survival—they reflect Kuwait's broader ambition to align with global environmental standards and reduce its long-term dependence on fossil fuels for water production. However, experts caution that the country's water supply remains vulnerable to rising energy costs, geopolitical risks, and climate change impacts. Because desalination is energy-intensive, any disruption in fuel supply or power infrastructure could have a ripple effect on water availability. To tackle this, the Kuwaiti government is actively exploring public-private partnerships (PPPs) to expand capacity and ensure a resilient supply chain that can withstand future shocks. Verdict Kuwait's lack of rivers or lakes might seem like an impossible obstacle, but the country has turned its geographical disadvantage into an engineering triumph. By mastering desalination and modern water management, it has built a system that not only supports everyday life but also allows for industrial growth and urban expansion in an unforgiving climate. Yet, this achievement comes with a price, financial, environmental, and strategic. Water in Kuwait is not just a natural resource; it is a manufactured necessity, one that requires constant innovation, investment, and public awareness. As the global climate crisis deepens and freshwater scarcity becomes a shared global concern, Kuwait's experience may serve as both a cautionary tale and a blueprint, reminding the world that water security is no longer a passive gift of geography, but a challenge to be engineered and sustained.
Qatar Tribune
09-07-2025
- Business
- Qatar Tribune
Doha Bank wins ‘Best Bank in Qatar' at MEED MENA Banking Excellence Awards
Tribune News Network Doha Doha Bank has been awarded the title of 'Best Bank in Qatar' at the MEED MENA Banking Excellence – Corporate & Investment Awards 2025', a prestigious recognition of the bank's outstanding achievements in innovation, strategic growth, and customer-focused banking aligned with Qatar's National Vision. The award, presented by MEED, one of the region's leading financial intelligence platforms, celebrates outstanding performance and resilience in the Middle East's banking sector. Doha Bank's win follows a strong year of growth, underpinned by its progress in digital transformation, product innovation, and responsible financial practices. Doha Bank Group Chief Executive Officer Sheikh Abdulrahman bin Fahad bin Faisal Al Thani said, 'Being named Qatar's Best Bank is a proud milestone and a reflection of the trust our clients and partners place in us. It affirms the strength of our strategy, our commitment to delivering measurable impact, and the efforts of our teams who consistently go beyond expectations. We remain focused on driving sustainable growth while supporting the goals of Qatar National Vision 2030.' Doha Bank Deputy Chief Executive Officer Dimitrios Kokosioulis said, 'This recognition from MEED validates our progress across all areas of the Bank, from digital innovation to client service, financial resilience, and responsible banking. It is the result of rigorous execution and a forward-thinking mindset that puts customers at the centre of every decision we make. We are honoured and energised to build on this momentum.' The award underscores the effectiveness of Doha Bank's corporate strategy, which is rooted in sustainable growth, digital enablement, and a strong focus on client needs. The bank continues to deliver value to stakeholders through secure, innovative, and forward-looking financial solutions. This latest accolade adds to Doha Bank's growing list of industry recognitions, including 'Best in Transformation in Qatar', 'Excellence in Digital Banking', and 'Market Leader in CSR' in 2024. The bank has also expanded its digital footprint through award-winning platforms such as the Tadbeer Corporate Mobile Banking App and secure payment services like Fawran – Request to Pay. Doha Bank's recognition by MEED reinforces its position as a trusted financial partner in Qatar and across the region and supports its vision of becoming the bank of choice in Qatar, aligned with the goals of Qatar National Vision 2030.
Daily Tribune
06-07-2025
- Business
- Daily Tribune
Ahli United Bank Wins Prestigious Awards
Ahli United Bank, the largest Islamic financial service provider in Bahrain, said it was recognized at MEED's MENA Banking Excellence Corporate Investment Awards as the 2025 winner of the Best Islamic Bank in Bahrain and Best for Supply Chain Finance awards. The awards acknowledge AUB's contribution to the banking sector and its unwavering commitment to excellence through outstanding performance, delivering innovative product offerings, and dedication to meeting the evolving needs of clients in the Islamic banking sector. Commenting on the awards, Dr. Shadi Zahran, Group CEO of Ahli United Bank, said: 'These awards reflect the success of our strategy to successfully provide world-class Shari'a-compliant products that enable businesses to thrive, especially in the area of supply chain finance and transactional banking.'
Mint
26-06-2025
- Business
- Mint
UAE Overtakes Saudi Arabia in Project Awards as Kingdom Eases Up
(Bloomberg) -- The United Arab Emirates is on track to surpass Saudi Arabia in the value of awarded construction projects this year as the kingdom slows down on some developments and refocuses its priorities. The UAE has awarded an estimated $31 billion in projects so far in 2025, outpacing Saudi Arabia's $20.6 billion, according to data provided by Middle East intelligence platform MEED. If the UAE maintains its lead through year-end, it will be the first time it comes out ahead since 2018. The shift comes as the kingdom eases up on projects as it faces funding pressures and also adjusts to market demand and rising costs, MEED said on Wednesday. The Gulf nation is also reprioritizing to focus on events it's hosting, like the 2029 Asian Winter Games and the 2034 FIFA World Cup, MEED added. The UAE is meanwhile pressing ahead with infrastructure and real estate projects. Still, construction across the Gulf has broadly slowed from previous years due to factors including global economic headwinds. Oil prices, which remain too low to balance many Gulf budgets, may also be contributing, adding pressure to regional finances. The kingdom has awarded just $4 billion for so-called giga projects in 2025 that are designed to back Crown Prince Mohammed bin Salman's Vision 2030 diversification agenda. That compares with $24 billion last year. Across 2024, the kingdom granted a record $152 billion in construction contracts. To be sure, the current lead held by the UAE may shift in the second half as Saudi Arabia is expected to grant awards for stadiums related to the 2034 FIFA World Cup. Saudi Arabia also still holds the strongest pipeline of planned developments, with around $1.6 trillion worth of projects announced but not yet awarded, MEED said. More stories like this are available on
Mid East Info
23-06-2025
- Business
- Mid East Info
NBO Named Best Retail Bank in Oman 2025 by MEED's MENA Banking Excellence Awards - Middle East Business News and Information
23 June 2023, Muscat: The National Bank of Oman (NBO) has been named as the Best Retail Bank in Oman 2025 at the MEED's Middle East and North Africa (MENA) Banking Excellence Awards. The prestigious recognition celebrates the bank's continuous strive to invest in innovative financial services and solutions that deliver a seamless and enhanced customer experience. Focused on convenience and trust, NBO offers a comprehensive range of retail products and services tailored to meet the diverse needs of its customers – from children and youth to high-net-worth individuals. These include Private Banking, Sadara Priority Banking, Privilege Banking, alongside Current, Savings and Deposit Accounts. In addition, the bank also provides exclusive lending solutions and a broad selection of Credit, Debit, and Badeel Prepaid Cards. To enhance customer experience, NBO's award-winning app empowers customers to manage their accounts, payments and transactions digitally. It features account opening services, loan top-ups, as well as bill payments. Through the app, customers can also apply for a credit card digitally through Oman's first fully digital credit card application facility. With the integration of Electronic Know Your Customer (E-KYC) technology, customers can update personal details while enjoying a fully digital onboarding journey, eliminating the need for physical paperwork or in-person verification. For added convenience, customers can also link their NBO debit and credit cards to Apple Pay, Samsung Wallet, and Garmin Pay, enabling seamless payments across a wide range of mobile devices. To enhance customer satisfaction, NBO's Rewards Program allows customers to earn, redeem and convert points on everyday spending using their NBO cards for a variety of options. NBO's focus on customer ease extends beyond digital channels to its physical presence across the Sultanate. The bank has introduced several innovations in Oman, including the Eid note dispensing machines, the self-service kiosks and the exclusive ATM and CDM machines that support a wide range of essential banking transactions. Supported by a dedicated team of relationship managers and a robust digital infrastructure, NBO continues to redefine the retail banking experience in Oman. Deeply aligned with Oman's national vision for a smarter, more digitally empowered future, NBO remains committed to setting new benchmarks in customer experience, financial innovation, and service excellence.
