One of the world’s richest countries per capita, Kuwait has struggled for years to get big infrastructure projects off the ground because of bureaucratic red tape and political turmoil.
The deal, which will see Kuwait Airways pay around 850 million dinars ($2.98 billion) for 25 new planes, could be closed this month.
Kuwait’s elected parliament has been caught in a long-running power struggle with the appointed government.
The firm is currently undertaking a KD1 billion debt restructuring plan agreed in 2011.
The proposal calls for state-owned Kuwait Airways to buy 25 new Airbus jets and to lease a further 13 to upgrade its fleet but needs government approval.
Elections in December brought in lawmakers seen as more cooperative with the government.
Kuwait Airways plans to buy 10 wide-bodied A350-900 jets and 15 of the slimmer A320neo.
Dozens of activists and political figures have been charged since late last year with insulting ruler Sheikh Sabah al-Ahmad al-Sabah.
Last year, an international arbitrator told Kuwait’s Petrochemical Industries to pay up for pulling out of a K-Dow joint venture in 2008.
Sheikh Nawaf, 75, is the brother of the ruling emir and is next in line to lead the oil-producing Gulf Arab state.
Luxury hotel aims to raise Kuwait’s hospitality profile but its opening has been delayed following the downturn
The IMF has said that Kuwait’s government needs to include the tax system in its fiscal reforms.
The company posted a net profit of KD10.1 million ($35.5 million) for the first three months of the year.
The media law was passed by the government this month but still needs the approval of parliament.
Wataniya made a net profit of 19.5 million dinars ($68.4 million) in the three months to March 31, down from 28.3 million dinars in the year-earlier period.
Saud Alsanousi has won the 2013 International Prize for Arabic Fiction for his book ‘The Bamboo Stalk’.
Musallam al-Barrak, a former member of parliament, was sentenced to five years in jail this week, sparking protests.
National Bank of Kuwait made KD81.3 million of net profit in the three months of 2013.
Kuwaiti telecoms operator Zain holds a 56.3 per cent stake in Zain Bahrain.
The OPEC member produces three million barrels of oil per day but its gas production is relatively low.
Domestic tensions have been delaying work on Kuwait’s KD30 billion development plan
Agility’s Gulf Catering Company for General Trade will provide bottled water and other supplies to the joint United Nations-African Union Mission in Darfur.
The plan will mean banks have to pay back any overcharged interest to citizens.
The government is planning to write off the interest on Kuwaiti citizens’ personal bank loans taken out before March 2008.
Kuwaiti media said on Sunday that the three were a Pakistani, a Saudi and a stateless man and they would be hanged.
Dubai’s bourse fell 0.9 per cent to a fresh two-month low of 1,829 points.
The logistics group made 9.65 million Kuwaiti dinars net profit compared with 3.46 million dinars a year earlier.
Abdulaziz Fakhroo replaces Bassam Hannoun becoming the telco’s third chief executive in less than a year.
Robust oil income and lower-than-expected public spending boosted the surplus.
Current oil prices will not deter economic growth, says Saudi’s oil minister.