Kuwait

Fixed-line telephone services in Kuwait are currently owned by the state, however, this may be set to change, according to recent statements by government officials. At the same time, the establishment of an independent regulatory agency for the communications sector is being considered. Both of these changes would dramatically affect the country’s internet service providers (ISPs), which have recently been subject to criticism from local internet users for their decision to implement “fair access” policies.

Having recently published its executive bylaws, Kuwait’s first independent stock market regulator, the Capital Markets Authority (CMA), is now ready to begin operations.

The financial health of Kuwait’s banking sector has improved markedly since the height of the global financial crisis, when falling asset prices had a negative impact on balance sheets and a number of institutions faced rising numbers of non-performing loans. Today, banks are well capitalised and reporting increased profits.

Iraq and Kuwait appear to be laying the foundations to rekindle economic relations, with businesspeople and political leaders from both countries recently meeting to discuss opportunities for bilateral trade and investment.

According to several recently published reports, the outlook for Kuwait's real estate sector is looking up. After hitting a low in 2009, the real estate market has begun to show signs of recovery and following robust expansion in 2010, the sector appears poised to see further growth this year.

Kuwait’s ambition to become a leading trading centre for the region took a step forward earlier this month, when the foundation stone for the new Mubarak Al Kabir port was laid, at a ceremony attended by Emir Sheikh Sabah Al Ahmed Al Jaber Al Sabah.