AGP Executive Report
Last update: 11 hours agoAgriculture Investment Push: Kuwait is reviewing a plan to reverse a sharp fall in agricultural FDI, with food security as the priority and a focus on attracting partnerships, empowering Kuwaiti farmers, and using modern methods like hydroponics and vertical farming. Public Health & Compliance: Kuwait Municipality launched a campaign urging businesses to get licensed correctly, warning violations can bring fines up to KD 5,000 and closure. Energy & Water Projects: The Electricity, Water and Renewable Energy ministry is awaiting State Audit Bureau approval for nine water and power network contracts, including high-voltage line maintenance and new water pumping facilities. Healthcare Expansion: The Jaber Al-Ahmad Kidney Dialysis Center opened in Ahmadi with 83 dialysis units and capacity for 600 patients, adding services like labs and emergency care. Banking for Young Professionals: NBK introduced the “Plus” package for customers transitioning from its Youth Package after their first salary, with cash rewards and lifestyle benefits. Regulatory Crackdown on Foreign Business: Kuwait tightened commercial concealment rules, targeting arrangements where foreigners conduct economic activity without proper licensing, with penalties including jail and fines up to KD 100,000. Consumer Pressure on Food Prices: Kuwait consumers are calling for a fish boycott over high prices, urging action against monopolies and speculation. Finance & Oilfield Services: Action Energy reported H1 2026 results with revenue up 34.4% and net profit up 96.6%, plus a first interim dividend of 3 fils per share. Security & Regional Diplomacy: Kuwait welcomed a UN Security Council statement condemning Houthi missile attacks on Saudi Arabia and attacks on commercial vessels, reaffirming support for maritime navigation safety. Market Watch: Kuwait gold closed last week at $4,342 per ounce, up more than 7%, as US labor data softened rate-hike expectations.
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