News

Kuwait readies $200 million tech fund

Computer_processor_chipThe Kuwait government is set to establish a $200 million fund for technology investments according to comments from its deputy prime minister and foreign minister. Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah told an Arab Economic Summit that the fund was part of an initiative to “embrace the digital economy”. The minister also said that Kuwait would contribute $50 million with the remaining capital to come from the private sector. News of the tech fund comes after rating agency Standard & Poor’s affirmed Kuwait’s AA/A-1+ long and short term foreign and local currency sovereign credit rating and issued a stable outlook. “The stable outlook reflects our expectation that Kuwait’s public and external balance sheets will remain strong over the next two years, primarily underpinned by sizeable foreign assets accumulated in the country’s sovereign wealth fund,” the report said. “This should partially mitigate risks related to Kuwait’s undiversified oil-dependent economy and rising geopolitical tensions in the region.” ©2019 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

Roundtables

ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.