AGP Executive Report
Last update: 5 hours agoEnergy and Shipping: Brent crude climbed about 4% to nearly $113 a barrel after attacks in Saudi Arabia raised supply concerns. A Kuwait-flagged tanker was also struck by a projectile in the Strait of Hormuz; all crew members were safe. Economic Outlook: The IMF expects Kuwait and several other Gulf economies to face double-digit GDP declines in 2026, with energy and shipping disruptions weighing on the region. Business Regulation: Kuwait suspended about 2,000 company licences over unpaid fees, while business representatives urged authorities to consider relief for firms facing genuine financial hardship under tighter wage controls. Industrial Development: ST Engineering marked new milestones on Kuwait’s Al Dorra naval programme, laying the keel for the third vessel and cutting steel for the fourth and fifth. Kuwait’s oil-sector workforce has also reached 97.5% national representation.
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