Kuwait economic indicators show rising spending and Ooredoo revenue growth

Kuwait's total spending by citizens and residents reached 42.335 billion dinars during the first nine months of the year, a 4.75 percent increase compared to the previous year. Data from the Central Bank of Kuwait indicates that while spending via point-of-sale terminals, ATMs, and online channels saw slight declines, transactions through the Wamd instant payment service surged by 44.33 percent to 8.751 billion dinars.

In the telecommunications sector, Ooredoo Group reported a 6 percent year-on-year increase in consolidated revenue, reaching KWD 608 million for the nine months ended September 30, 2026. The group's EBITDA rose 10 percent to KWD 255 million, and its customer base expanded by 7 percent to 29.1 million.

Despite revenue growth, Ooredoo's net profit attributable to National Mobile Telecommunications Company (NMTC) fell 29 percent to KWD 48 million. This decline was attributed to a one-off provision of KWD 23.5 million following a Supreme Court ruling in Algeria regarding a claim by the Central Bank of Algeria against a subsidiary. Excluding this provision, the company reported a normalized net profit of KWD 72 million.