Portal:Kuwait
The Kuwait PortalKuwait, officially the State of Kuwait, is a country in West Asia. It is situated in the northern edge of the Arabian Peninsula at the tip of the Persian Gulf, bordering Iraq to the north and Saudi Arabia to the south. With a coastline of approximately 500 km (311 mi), Kuwait also shares a maritime border with Iran, across the Persian Gulf. Most of the country's population reside in the urban agglomeration of Kuwait City, the capital and largest city. As of 2024, Kuwait has a population of 4.82 million, of which 1.53 million are Kuwaiti citizens while the remaining 3.29 million are foreign nationals from over 100 countries. Kuwait has the third largest foreign-born population in the world. Before the discovery of oil reserves in 1938, the country was a regional trade port; from 1946 to 1982, the country underwent large-scale modernization, largely based on income from oil production. In the 1980s, Kuwait experienced a period of geopolitical instability and an economic crisis following the stock market crash. In 1990, Kuwait was invaded and subsequently annexed by Iraq under the leadership of Saddam Hussein following disputes over oil production. The Iraqi occupation of Kuwait ended on 26 February 1991, following led to international coalition culminating in the expulsion of Iraqi forces. Like most other Arab states of the Persian Gulf, Kuwait is an emirate; the emir is the head of state and the ruling Al Sabah family dominates the country's political system. Kuwait's official state religion is Islam, specifically the Maliki school of Sunni Islam. Kuwait is a high-income economy, backed by the world's sixth largest oil reserves. (Full article...) Selected article -The Souk Al-Manakh stock market crash was the 1982 stock market crash of Kuwait's unofficial stock market, the Souk Al-Manakh (Arabic: سوق المناخ). The Al-Manakh market was housed in an air-conditioned parking garage in the historic area of Jibla, Kuwait City. The market was specialized in highly speculative and unregulated non-Kuwaiti companies. At its peak, its market capitalization was the third highest in the world, behind only the U.S. and Japan, and ahead of the U.K. and France. (Full article...) Did you know...
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