AGP Executive Report

Investor Residency: Kuwait issued a new long-term residency framework for foreign investors, allowing permits up to 15 years under Cabinet Resolution No. 651/2026, with strict criminal-record and compliance requirements. Trade & Industry: Kuwait and partners are pushing free trade pacts aimed at boosting exports and local manufacturing, including a focus on furniture. US-Iran Talks & Regional Diplomacy: Qatar and Kuwait reiterated support for US-Iran nuclear negotiations as talks near a breakthrough, while PM Shehbaz Sharif said a peace deal could be finalized within 24 hours. Hormuz Shock for Kuwait: Analysts warn Kuwait remains exposed to Strait of Hormuz disruptions, even as experts say Kuwait’s oil sector has shown resilience during the crisis. Oil Moves: KPC approved an Egypt gas exploration investment, with output expected in Q4, and also offered crude to Asian buyers for the first time since the early 1990s. Security: Salmiya CID arrested four people in a fake Ministry of Commerce inspectors scam targeting shops and supermarkets. Culture & Heritage: Kuwait’s diwaniyas were highlighted again after UNESCO recognition, underscoring their role as hubs for dialogue and community life. Health & Community: Boursa Kuwait and Kuwait Clearing Company ran a blood donation drive for World Blood Donor Day.

Middle East Energy Shock: Iran’s Persian Gulf Strait Authority says it has fully closed the Strait of Hormuz to all shipping in retaliation for U.S. airstrikes, threatening a major global oil disruption as shipping halts and insurance costs rise. Kuwait Aviation Fallout: Kuwait’s civil aviation authority has filed a third protest to ICAO over Iranian attacks on Kuwait International Airport, including radar targeting that caused injuries and forced temporary air navigation changes. Diplomacy Watch: Reports say the U.S. and Iran are nearing a MoU/peace framework that could reopen Hormuz and extend a ceasefire, but details remain disputed as Iran and Washington trade claims. UAE-Iran Money Claims: Reuters reports the UAE agreed to unlock billions for Iran to curb attacks, while the UAE foreign ministry denies any transfer. Local Community & Culture: Boursa Kuwait and KCC ran a blood donation drive with the Central Blood Bank for World Blood Donor Day; Kuwait’s diwaniyas were recognized by UNESCO as intangible cultural heritage. Education & Jobs: Kuwait’s Ministry of Education starts training for the fourth phase of promotion for educational supervisory roles, while PAM reminds employers about a temporary labour transfer grace period ending June 30.

Strait of Hormuz Shock: Iran announced a full closure of the Strait of Hormuz to shipping in retaliation for U.S. airstrikes, warning of major global energy disruption as markets brace for chaos. Kuwait Under Fire: The IRGC said it hit U.S. positions including in Kuwait, while Kuwait’s civil aviation authority submitted a third protest letter to ICAO over Iranian attacks on Kuwait International Airport, including radar targeting and resulting injuries and damage. Deal Talk vs. Denial: Trump said a U.S.-Iran peace deal is close and strikes were canceled, but Iran and Israeli officials dispute that anything is finalized, keeping uncertainty high. Regional Diplomacy: Pakistan’s PM Shehbaz Sharif said the final text of the peace deal is reached amid mediation efforts, while officials urged restraint after Iranian strikes on Kuwait and Bahrain. Local Life & Economy: With war jitters lingering, Kuwaitis increased gold buying as prices eased, and Kuwait arrested a Bangladeshi gang for forging government stamps.

Kuwait Security & Borders: Kuwait says Iranian strikes on Thursday targeted its airport radar, causing injuries and “significant material damage,” after a brief airspace shutdown and phased reopening. Fraud Crackdown: Kuwait arrested five Bangladeshis for forging and selling government stamps, including counterfeit 5 and 10 dinar stamps used to bypass verification in hospitals. Gulf Diplomacy & War Watch: As the US and Iran trade claims about a near-term “memorandum of understanding,” Iran says nothing is finalized while Trump says strikes were canceled and a signing could happen in Europe; analysts warn key objectives remain unclear and Hormuz reopening is still contested. Oil & Shipping: With Hormuz disruptions easing only partially, Gulf fuel exports are rebounding and oil prices are volatile, swinging as deal talk rises and falls. Local Business & Travel: Kuwait Airways launched flights to Zurich twice weekly, while Kuwait also faced fresh visa and hiring rule chatter—Kenya says there’s no new ban on Kenyan workers. Tech & Investment: KKR and Kuwait’s KIA back Helix Digital Infrastructure with $10B+ for AI data centers, and SpaceX’s IPO drew $350B+ in demand, including Kuwait orders.

Kuwait Security & Aviation: Kuwait says Iranian strikes on Thursday damaged Kuwait International Airport’s radar, injured people, and forced a brief airspace closure before flights resumed, with civil aviation filing a protest with ICAO after repeated attacks. US-Iran Deal Whiplash: President Trump claims the US has “ended the war” with Iran and says a memorandum could be signed in Europe as soon as this weekend, but Iran’s foreign ministry says no final decision has been made and accuses Washington of changing demands. GCC Condemnations: Saudi Arabia, the UAE, Qatar and Egypt all condemned Iran’s repeated attacks on Bahrain, Kuwait and Jordan, urging de-escalation and pointing to violations of sovereignty. Energy & Markets: Kuwait cut July crude prices for Asia amid weak demand signals, while oil and metals swung on deal optimism and strike cancellations. Local/Community: Kuwait hosted an Indian Mango Festival at The Avenues, highlighting growing food and trade ties. Business/Investment: KKR launched Helix Digital Infrastructure with $10B+ including Kuwait Investment Authority backing to build next-gen AI data infrastructure.

US-Iran Tensions: President Donald Trump abruptly called off planned US strikes and bombings against Iran, saying “final points” have been approved at the highest level of Iranian leadership and that a deal signing is “shortly” after talks involving the US, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan and Egypt; he also said the US naval blockade will stay in place until the agreement is finalized. Regional Fallout: The reversal comes after days of tit-for-tat attacks in the Gulf, with Iran warning the ceasefire is “meaningless” and declaring the Strait of Hormuz closed, while Iran-linked strikes targeted Kuwait and other GCC states. Energy Watch: Markets reacted fast—stocks jumped on the cancellation news while oil prices slid sharply, as traders weighed the risk of renewed escalation and threats to Iran’s oil export hub Kharg Island. Kuwait Business: KUFPEC is expected to see net profit fall in 2025 due to lower oil prices and oversupply, plus maintenance and project impacts. Kuwait Diplomacy/Security: Kuwait’s role is repeatedly cited among stakeholders in the US-Iran talks, while Kuwait’s airspace and airport operations were disrupted earlier amid the wider regional attacks. Local Sports: Kuwait hosted the Asian Men’s Club League Handball Championship, with matches continuing through June 17.

US-Iran Escalation: The US launched a second straight night of “self-defense” strikes on Iran, targeting surveillance, communications and air-defense sites, after Trump said Tehran must “pay the price” for stalled talks. Regional Fallout for Kuwait: Iran retaliated by claiming attacks on US-linked bases in Kuwait and Bahrain, while Kuwait temporarily closed its airspace and later reopened it as flights returned to normal; Kuwait’s army said air defenses intercepted hostile aerial targets. Strait of Hormuz Shock: Iran’s state media and military claimed the Strait of Hormuz was closed to all vessels and warned any ship would be targeted, though the US disputed the claim—raising fresh fears for global oil and LNG flows. Diplomacy Under Strain: UN officials and regional voices urged restraint as the tit-for-tat exchange threatens to derail a fragile April ceasefire. Business & Markets: Oil prices swung on the renewed fighting, with markets tracking the risk of wider disruption.

US-Iran Escalation: The US launched airstrikes on Iran after blaming Tehran for the downing of a US Apache helicopter near the Strait of Hormuz, and Iran retaliated by firing on Bahrain, Kuwait and Jordan—raising fresh fears that the fragile ceasefire is slipping. Kuwait Under Fire: Kuwait reported intercepting “hostile targets” as regional attacks widened, while officials and allies urged restraint and diplomacy. Oil, Markets, and Crypto: Oil prices climbed as the standoff intensified, while global equities pared losses on inflation data; Bitcoin slid back toward $60,000 as traders turned risk-off. Kuwait Maritime Rules: Kuwait’s Interior Ministry began enforcing a new maritime law with tougher penalties for reckless or unlicensed boating and driving under the influence, plus safety equipment requirements. Housing and Health Projects: PAHW moved ahead with housing-city infrastructure tenders and launched a consultancy tender for a planned integrated medical city in Sabah Al Ahmad. Local Finance: Boursa Kuwait held a fixed-income instruments webinar as the CMA’s new bond and sukuk framework takes shape. Culture and Inclusion: Kuwait marked the International Day of Dialogue Among Civilizations with Arabic-Chinese calligraphy events, and reiterated its UN commitment to disability rights.

Kuwait Security & Airspace: Kuwait’s air defences engaged “hostile aerial targets” after Iran said it struck U.S.-linked sites, as sirens and alerts also spread across Bahrain and Jordan. US-Iran Escalation: The flare-up followed a U.S. Apache helicopter crash near the Strait of Hormuz that Washington blamed on Tehran; CENTCOM said its “self-defense” strikes against Iranian air defence and radar sites have ended, while Iran vowed “leave no attack or threat unanswered” and claimed further attacks. Regional Fallout: Jordan reported intercepting five Iranian missiles with no casualties, while Iran’s IRGC claimed strikes including on Kuwait and Bahrain and targeting U.S. Fifth Fleet-linked assets. Local Impact: The renewed fighting keeps pressure on Kuwait’s emergency readiness and highlights how quickly Gulf airspace can tighten. Sports: In handball, Al Najma face Sharjah in a must-win Asian Club League clash in Kuwait, with both sides chasing early points. Domestic Labour Policy: Kuwait updated rules restricting domestic worker recruitment to 10 approved countries and banning hiring from 27 others, including Kenya.

West Asia Diplomacy: Iran floated a four-stage deal with the U.S. as clashes intensified around Kuwait International Airport, where a terminal was hit and one person died while 63 were injured; the Gulf Cooperation Council condemned the strikes as a dangerous escalation. Kuwait–India Ties: Kuwait’s Amir spoke by phone with India’s PM Modi, condoling an Indian national’s death in the airport attack and urging de-escalation; Modi also reiterated India’s condemnation of attacks on Kuwait’s sovereignty and thanked Kuwait for protecting the Indian community. Airport Security & Claims: Iran’s foreign ministry alleged the U.S. staged a false-flag drone attack to justify a counter-drone sale to Kuwait, while Kuwait and regional partners continue to trade accusations over what caused the damage. Public Safety & Crime: Kuwait arrested two suspects in a drug money-laundering case using mobile recharge cards to disguise cash flows. Health Oversight: The Ministry of Health issued citations against salons and health institutes after inspections focused on infection control and sterilization compliance. Sports & Youth: Kuwait signed a deal with England’s Salisbury FC to run trials for three Kuwaiti footballers in England, and handball officials praised Kuwaiti referees and women’s growing role in the sport. Oil & Trade: Kuwait Petroleum Corp offered crude to Asian refiners for the first time since the Iran war began, signaling some reopening of Hormuz-linked flows.

Kuwait–Oman Diplomacy: Kuwait and Oman stressed coordination, consultations, and dialogue to tackle regional challenges during the 11th session of their joint committee in Oman. Cybersecurity Pact: Kuwait and Oman also signed a strategic MoU to strengthen cybersecurity cooperation, including expertise sharing, joint training, and better coordination against cyberattacks. US–Iran Tensions Spill Over: The Strait of Hormuz remains a flashpoint as a U.S. Apache helicopter crash near the area led to pilot rescues, while Trump said a ceasefire deal could be reached in “two or three days.” Local Compliance Push: Kuwait’s Communications and Information Technology regulator gave a three-month grace period for surrendering unlicensed wireless devices, and the Municipality launched inspections to clamp down on illegal ads and licensing violations. Economy & Business: Global IME Bank and Bhat-Bhateni announced a 0% installment credit card facility, and Kuwait’s PAI shut down 51 industrial plots for legal breaches. Sports & Community: Najma suffered a second straight defeat in Kuwait’s Asian handball club league, while Kuwait marked World Oceans Day with coastal cleanups by the Kuwait Dive Team.

Domestic Labor Rules: Kuwait’s Interior Ministry issued a new circular on domestic worker recruitment, allowing hiring from 10 countries and banning recruitment from 27 others, with processing through governorate service centers. Municipal Crackdown on Ads: Kuwait Municipality launched field inspections across all six governorates to check health licenses and remove illegal commercial advertisements, starting with Farwaniya where violations and warnings were issued. Education Costs: Indian-curriculum schools in Kuwait began circulating 2026/2027 tuition changes after a May directive, letting some schools raise fees up to 15% or 10% depending on current price bands. Local Governance Talks: Kuwait’s six governors met Arab Towns Organization Secretary-General Bader Al-Askar to boost cooperation on public services, urban planning, and sustainable development. Kuwait–China Projects: Public Works and Municipal/Housing ministers met China’s ambassador to review joint development work, including the Kabd North wastewater plant and workers’ city plans. Health Leadership: Dr. Jasim Alabbad was appointed Director General of Dasman Diabetes Institute, bringing senior surgery and academic experience. Business & Markets: Boursa Kuwait joined HSBC’s GCC Exchanges Conference in London for its 17th Corporate Day, aiming to attract global investors. Sports: Kuwait Club lost 34-31 to Al-Khaleej in Asian men’s club handball, while Kuwait’s basketball federation appointed Falah Al-Ajmi to its board. Digital Infrastructure: Zain partnered with URC to power connectivity and smart solutions for Hessah District.

Kuwait’s ICAO pushback: Kuwait has filed a second formal protest to ICAO over Iranian airspace violations and attacks on Kuwait International Airport, warning the breaches endanger passenger safety and airport operations. Airport restart: Kuwait International Airport is open again with a phased return of flights after Terminal 1 repairs, though full capacity is still not back to normal. Defense and deterrence: The wider Gulf security picture remains tense as Iran and the US trade strikes and missiles are intercepted near Kuwait and Bahrain, keeping markets and travel on edge. Energy and prices: Oil jumped after Iran and Israel exchanged fire, with Brent rising above $97 as Strait of Hormuz disruption fears returned. Finance and sustainability: NBK launched a new Sustainable Financing Framework, and Boursa Kuwait renewed its climate action push. Local business and projects: KNPC issued a limited tender for 2027 seawater pipeline repair and replacement works. Sports: Al Kuwait held off Al Najma to win the Asian Club League handball match 30-26.

Gulf Security: Iran fired ballistic missiles and drones toward Bahrain and Kuwait early Saturday, with Bahrain saying they were intercepted; the exchange followed U.S. strikes on Iranian surveillance facilities near Qeshm and Sirik, as Washington weighs using frozen Iranian assets for Gulf reconstruction. Kuwait Aviation: Kuwait’s civil aviation authority filed a second protest to ICAO over alleged Iranian airspace violations and attacks on Kuwait International Airport, citing deaths, serious injuries, and major damage to Terminal 1. Regional Diplomacy: Pakistan’s interior minister Mohsin Naqvi arrived in Tehran to push de-escalation and revive U.S.-Iran talks, delivering a “special letter” to Iran’s supreme leader. Energy Watch: OPEC+ agreed to raise July quotas by 188,000 bpd despite the Strait of Hormuz remaining closed, a move analysts say is mostly symbolic while shipping constraints persist. Local Economy & Society: Boursa Kuwait renewed its climate-action push on World Environment Day, while Kuwait’s food safety authority marked World Food Safety Day with a focus on safer food everywhere.

US-Iran Gulf Fallout: The US is weighing a major move to redirect frozen Iranian assets to help Gulf allies rebuild and repair damage from Iran-linked attacks, with Treasury Secretary Scott Bessent’s team assessing costs already inflicted on partners like Kuwait and Bahrain and checking legal routes for future destruction. Ceasefire Under Strain: The proposal lands as the US and Iran trade strikes again, including US action against Iranian coastal radar sites near the Strait of Hormuz and Iran firing ballistic missiles and drones toward Kuwait and Bahrain, which both condemned as dangerous escalation. Regional Security & Shipping: With Hormuz disruptions still a risk, analysts warn trade and energy turmoil could worsen if closures drag on. Kuwait Business Watch: Boursa Kuwait released its fifth standalone Sustainability Report for 2025, highlighting ongoing ESG reporting and governance efforts. Sports (Kuwait): Asian Men’s Club Handball action continues in Kuwait, with Najma starting their campaign against Kuwait Sports Club.

Gulf Security: Kuwait said it intercepted seven hostile ballistic missiles and multiple drones early Saturday, causing material damage but no casualties; airspace was temporarily closed from 4:15am to 6:15am and 11 flights were diverted before operations resumed. Diplomacy & Condemnations: Kuwait’s Foreign Ministry called the attacks a “flagrant violation” of sovereignty and UN norms, while Bahrain, Saudi Arabia, Qatar, the UAE and the GCC echoed strong condemnation and warned of dangerous escalation. US-Iran Tensions: Iran’s foreign ministry accused the US of ceasefire violations after US strikes on coastal radar/surveillance sites near Qeshm and Sirik; the US said it intercepted missiles/drones aimed toward Kuwait and Bahrain and struck radar targets. Defense Deal: The US State Department approved a potential $1.98bn counter-drone sale to Kuwait, including Roadrunner/Anvil interceptors and surveillance and training support. Digital Government: CAIT submitted a KD9.992m contract for auditing a plan to cut paper transactions within three years, and Kuwait launched an e-service on Sahel for domestic worker and driver visas. Markets & Business: Boursa Kuwait published its fifth Sustainability Report for 2025, while investors’ total KSE purchases hit about KD6.466bn ($19.8bn) in Jan-May 2026.