by admin | May 25, 2021 | Muslim World
Kuwait City : Kuwait is ready to cement commercial relations with the US, the Kuwaiti Ministry of Commerce and Industry said on Tuesday.
Khaled Al-Roudhan, the Kuwait’s Minister of Commerce and Industry, flew to the US on Tuesday on a visit. He will hold talks with his US counterpart Wilbur Louis Ross on means of promoting the domestic investment environment and cementing commercial relations between Kuwait and the United States, Xinhua reported.
Al-Roudhan will also discuss with his US counterparts expertise swap, with an aim to increase commercial exchanges between the two countries.
The minister is also scheduled to lecture at the US Chamber of Commerce and hold talks with officials of the World Bank on how to improve business in Kuwait according to international criteria.
Kuwaiti exports to the US reached $141.6 million and imports from the US amounted to $3.4 billion in 2017.
—IANS
by admin | May 25, 2021 | Muslim World
Kuwait City : The upcoming Kuwait International Conference for the Reconstruction of Iraq (KICRI) will provide lucrative investment opportunities for participating companies, a Kuwaiti official said on Sunday.
“I am confident that different companies will be assured of what Iraq has to offer in terms of investment opportunities, a matter that would be of great return on Iraq, its stability, as well as benefiting its people,” Mohammad Abulhassan, head of the higher media committee of KICRI and Amiri Diwan Advisor, said.
He emphasised on potential projects, as well as the involvement of the Iraqi government in future ventures, in cooperation with public benefit societies and Kuwaiti charitable organisations, Xinhua reported.
Secretary General of the Iraqi Cabinet Mahdi Al-Allaq said that his country is a “promising” one, with huge potentials in terms of financial and human resources, as well as a sound investment environment.
The three-day KICRI is due to kick off on Monday, which will bring together several economically powerful countries, as well as regional and international organizations on contributions to rebuild Iraq after many years of war and conflicts.
—IANS
by admin | May 25, 2021 | Muslim World
Dubai : Gulf stock indexes, from Kuwait to Oman, advanced modestly on Sunday after the price of oil hit a two-and-a-half-year high at the end of last trading week.
The Kuwait Stock Exchange Price Index closed 0.79 per cent higher at 6,504.97. The countries’ oil exports account for 95 per cent of its state revenues, Xinhua reported.
The price of oil climbed to the highest level, above $67 per barrel (159 liters) since mid-2015 on January 3 amid unrest in Iran and the “bomb cyclone” hit the US East Coast and the Midwest, dragging temperatures down to minus 40 degrees Celsius.
In Dubai, the DFM General Index climbed 0.22 per cent higher to finish at 3,471.09. Arabtec, the biggest construction firm in the United Arab Emirates, led the charts by gaining 6.53 per cent.
Shares of the world’s third biggest port operator DP World which are traded on the Nasdaq Dubai closed even at $24.99. Earlier in the day, DP World said in an e-mailed statement it invested over 1 billion dollars in global trade in 2017.
The Saudi Arabian Tadawul All-Share Index in Riyadh increased by 0.56 per cent, finishing at 7,317.65 as all industry sector indexes posted an increase.
On Saturday, Saudi King Salman bin Abdulaziz Al-Saud ordered to provide inflation allowances for citizens to ease the expected rise in the cost of living after the newly enforced 5 per cent value added tax (VAT), Al Arabiya reported.
The king also instructed to pay the annual grant provided to employees working for the government sector and to be calculated from January 1.
The stated grants include payment of a monthly living allowance of $267 for civil and military employees for one year, and a reward of $1,333 for military personnel participating in the front lines of military operations in the southern borders of the Kingdom.
In addition to pensions paid by the General Organization for Social Insurance for beneficiaries, $133 will be granted for one year.
In Muscat, the Omani market gauge MSM 30 Index finished Sunday trading 0.28 per cent higher at 5,119.18.
—IANS
by admin | May 25, 2021 | Muslim World
Kuwait : Kuwait Red Crescent Society (KRCS) launched the third campaign for implementing health projects in Yemen’s Taiz and Abyan governorates, KUNA reported.
The project includes a medical camp, mobile clinics, programs to fight malnutrition and the distribution of wheelchairs and medical equipment.
Head of KRCS’ delegation Abdulrahman Al-Oan said that 2,000 patients will benefit from the medical camp, 4,000 from the mobile clinics and 8,000 for malnutrition.
He noted that KRCS implemented four medical projects in Taiz involving medical camps for different kinds of surgeries and distributing medical equipment.
Al-Oon added that KRCS was honored by Yemeni authorities in appreciation of its role in easing the suffering of Yemenis living in war-torn areas.
—AG/UNA-OIC
by admin | May 25, 2021 | Business Summit, Events, Muslim World, Social Round-up
Kuwait : The 38th annual summit of the Gulf Arab heads of state will convene here on Tuesday and Wednesday, officials said, despite an ongoing dispute between some members of the group.
A rift between the Gulf Cooperation Council members Saudi Arabia, Bahrain and the United Arab Emirates (UAE), on one side, and Qatar on the other has put this year’s annual meeting in doubt, Al Arabiya reported.
The crisis, which began in June, revolves around allegations by Saudi Arabia, the UAE, Bahrain and Egypt that Qatar supports terrorism, a charge Doha denies. Qatar says the four countries were trying to force Doha to fall in line with their own foreign policy views.
Qatar’s Foreign Minister Sheikh Mohammed bin Abdulrahman al-Thani met his Gulf Arab counterparts on Monday ahead of the summit, one of the highest official encounters since some of them cut diplomatic, trade and travel links with Doha.
Al-Thani said that Qatari Emir Sheikh Tamim bin Hamad al-Thani would attend the six-nation Gulf Cooperation Council (GCC) meeting, despite the dispute within the group.
—IANS
