Kuwait
Riyadh to host regional central bank
Saudi Arabia's capital has been named as the location for the Gulf's regional central bank, after an eight-month delay.
Kuwaiti SWF to take 16% stake in Gulf bank
The Kuwait Investment Authority, a sovereign wealth fund, has taken a 16% share in one of the country's largest banks.
Norway slashes rates on "major shocks"
Norges Bank has followed the Riksbank's lead in chopping 175 basis points off its key rate. Exposure to "new major shocks" sparked the move, which leaves the central bank's key rate at 3%. Elsewhere, three other central banks cut their key rate by 50…
Kuwait enhances operations to restore liquidity
The Central Bank of Kuwait on Wednesday has launched new open-market operations in a fresh bid to shore up liquidity.
Kuwait guarantees deposits as major bank falters
Kuwait became the latest country to issue a blanket guarantee on all deposits after it emerged on Sunday that one of its largest banks had made a loss.
Asia makes rate cut 'truly global'
China cut rates for the second time in as many months on Wednesday, supporting the joint action by six of the most important central banks to loosen policy. A host of other Asian central banks have also replicated the Federal Reserve-led move.
Saudi soothes markets as Gulf liquidity woes mount
The Saudi Arabian Monetary Agency on Thursday became the third central bank in the Gulf this week to counter money-market fears of a liquidity shortage.
Kuwait on standby to inject funds - reports
The Central Bank of Kuwait has said it is ready to pump funds into the country's banking system, local media reported Tuesday.
GCC inflation is imported
Inflation rates in trading partners are the main driver of price pressures in Saudi Arabia and Kuwait, finds a new paper from the International Monetary Fund.
Kuwaiti deputy quit in July - report
Nabeel Ahmad al-Mannae, the deputy governor of the Central Bank of Kuwait, quit in July, say reports.
GCC governors back regional CB plans
Central bank governors in the gulf have taken a significant step towards monetary union, backing the creation of a regional central bank.
Fund warns Gulf countries on inflation
Gulf Cooperation Council (GCC) countries with currencies pegged to the greenback will face a tough battle against inflation, the International Monetary Fund said on Monday.
Fed welcomes SWF investment
Scott Alvarez, the general counsel of the Federal Reserve, has told the US Senate that the central bank welcomed investments by foreign sovereign wealth funds in American banks and financial institutions.
UAE governor rejects Greenspan advice
The United Arab Emirates will keep the dirham pegged to the dollar despite calls from former Fed chairman Alan Greenspan to float its currency.
Gulf reserves set to top $2 trillion
If global oil prices remain high, foreign exchange reserves in the six Gulf Cooperation Council (GCC) countries will exceed $2 trillion by the end of this year.
GIC and Kuwaiti SWF invest in Citi
Citi, the world's biggest bank, revealed on Tuesday that the Government of Singapore Investment Corporation (GIC) and the Kuwait Investment Authority were part of a group of investors involved in a $12.5 billion capital injection.
Merrill confirms Kuwaiti and Korean involvement
The Kuwait Investment Authority and Korean Investment Corporation became the two latest sovereign wealth funds to capitalise on banks' subprime losses, buying into Merrill Lynch, an investment bank.
Kuwait SWF set to make move on Wall Street
The Kuwait Investment Authority, a sovereign wealth fund, may be about to invest billions in Merrill Lynch and Citigroup, two of the biggest casualties of the subprime crisis.
Central Bank of Kuwait - Annual Report 2006-2007
In a bid to combat rising inflation, the Central Bank of Kuwait raised the exchange rate of the Kuwaiti dinar against the greenback from 292 fils to 289 fils per dollar.
Kuwaiti SWF could be next to invest on Wall Street
Bader Al-Sa'ad, the head of Kuwait Investment Authority, the state's sovereign wealth fund, indicated that his could be the next fund to inject funds into a finance industry clawing for capital in the aftermath of the subprime crisis.
The rise of SWFs is unstoppable
Western governments must accept the rise of sovereign wealth funds as a further sign of a shift in the world economy, according to Gerard Lyons, the chief economist at Standard Chartered, a bank.
Qatar to keep riyal pegged to dollar
Abdullah al-Thani, the governor of the Qatar Central Bank, said that the riyal would remain pegged to the US dollar on Tuesday.
Kuwait lets dinar fall again
Kuwait allowed the dinar to depreciate against the dollar for the second straight working day on Sunday July 29, this time by 0.05%.
Kuwait lets dinar appreciate further
The Central Bank of Kuwait has allowed its currency, the dinar, to appreciate against the dollar for the third time in two months. The dinar subsequently appreciated by 1.7%.