Kuwait would like to “help clear the air” between Egypt and Saudi and potentially mediate a reconciliation, according to Kuwait’s Undersecretary of Foreign Affairs Khaled al-Jarallah, Al Shorouk reported. Last month, we had noted reports that Kuwait and the UAE were attempting to mediate to fix the rift between Cairo and Riyadh. Al-Jarallah’s statement is the most senior government acknowledgment from the GCC — or Egypt, for that matter — of the existence of a rift, let alone of a genuine effort to mediate.

Meanwhile: TheKuwaiti European Holding Group is studying investing USD 1 bn into a multi-purpose city, General Authority for Free Zones and Investments CEO Mohamed Khodeir told Al Mal. The development would include houses, entertainment facilities, commercial use developments, and administrative projects, he added.