INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Sheikh Ahmad Al-Sabah re-appointed Kuwait Prime Minister

In Sept 2022, Kuwait held its sixth election in a decade, leading again to an opposition-led parliament. (AFP)
  • A long-running standoff between the government and the elected parliament has hampered efforts by the country to push through fiscal reforms.
  • In September 2022, Kuwait held its sixth election in a decade, leading again to an opposition-led parliament.

Dubai– Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah was re-appointed as Prime Minister of Kuwait and asked to nominate a cabinet immediately.

Official Kuwait News Agency, citing an Emiri decree said Al-Sabah has been asked to inform the National Assembly about the order.

Kuwait’s government resigned on January 23, three months after it was sworn in, following disputes with lawmakers that have plunged the Gulf state into political paralysis.

Kuwait’s National Assembly is the only fully elected parliament in the Gulf but it has been fraught with repeated crises between the executive and legislature.

The outgoing cabinet was the third to be formed by Prime Minister Sheikh Ahmed Nawaf al-Ahmed Al-Sabah — son of the country’s 85-year-old ruler — since he took the helm of the government in August 2022.

A long-running standoff between the government and the elected parliament has hampered efforts by the country to push through fiscal reforms, including a debt law allowing Kuwait to tap international markets.

Lawmakers had been pressing the government to approve a debt relief bill that would grant a debt amnesty for Kuwaiti citizens and which ministers argued would be a heavy cost to the state.

In September Kuwait held its sixth election in a decade, leading again to an opposition-led parliament.

The opposition has regularly accused ministers from the royal family of mismanagement and corruption.