Financial and Banking News


Kuwait Parliament Cancels Baghdad Summit Aid, Retains Funds in State Aid Budget 

The Kuwaiti National Assembly (Parliament), in a last minute compromise with the government, on 16 July cancelled the annual KD100mn ($332mn) Baghdad Summit aid allocation to the frontline states (KD53mn to Syria and KD47mn to Jordan and the PLO) and agreed instead to increase the foreign assistance funds at the Government's disposal from KD80mn to KD150mn, to be...