Kuwait has done little to diversify its oil-dependent economy, while slow reform has restricted its attractiveness to investors. The country is forecast to post a fiscal deficit of around $27 billion, the first defici [...]

Kipco plans real estate project

Kuwait Projects Company (Kipco), the country’s largest private sector investment firm, is planning a $5 billion real estate scheme on the outskirts of Kuwait City, vice chairman Faisal al Ayyar told Al Qabas daily newspaper. The 380,000 squar [...]

All at sea

Kuwait Oil Company (KOC) plans to initiate an offshore oil exploration programme within two years to boost output capacity, state news agency KUNA cited the company’s manager of planning Bader al Attar as saying. Al Attar was quoted as saying [...]

Sunshine policy

The government signed a $385 million contract with Spain’s TSK Group for a 50 megawatt (MW) solar energy project as part of a state drive to source 15 per cent of its power from renewable energy by 2030. According to Salem al Hajraf, head of energy [...]

Fighting talk

Kuwait has signed a memorandum of understanding to buy 28 Eurofighter jets with a $9 billion price tag from Italy’s Finmeccanica, BAE Systems and Airbus. Italian industry sources, quoted by the Reuters news agency, said the 20-year deal would [...]