Kuwait City - Gulf Insurance Group, one of the leading insurance service providers in the Middle East and North Africa, announced today that it has successfully completed the acquisition of AXA’s operations in the Gulf region after obtaining the necessary regulatory approvals from respective markets. This transaction is marked as one of the largest insurance acquisitions in the region for a total cash consideration of US$ 474.75 million. Read more...

Networking Across Borders

September 8, 2021: The American Business Council (ABCK) - AmCham Kuwait, AmCham Abu Dhabi, AmCham Bahrain, AmCham Dubai, AmCham Oman, and AmCham Qatar held their quarterly virtual speed networking event, to foster new relationships throughout the network of American Chambers of Commerce in the GCC region.

The GCC networking event facilitated fast-moving networking sessions for business owners and executives. Attendees were placed into rooms with a few other individuals, and each attendee got to interact with several professionals in the State of Kuwait as well as all throughout the GCC, and they shared their business profiles with other attendees. Read more...

Virtual Chairman's Club Roundtable

September 28, 2021: ABCK-AmCham Kuwait's Chairman's Club Members thank H.E. Ambassador Alina L. Romanowski for participating in a roundtable discussion about Kuwait’s business environment and the way forward. Read more...

Former Chairman's Farewell Dinner

September 30, 2021: ABCK-AmCham Kuwait held a small farewell dinner in honor of the Former Chairman- Frank Belonus. We would like to thank our Board Member Sam Jauhari, and our Chairman's Club Member -the American International School for graciously hosting us. We wish our Former Chairman the utmost success with his future endeavors, and once again, we thank him on behalf of the Board and the Members for all of his invaluable contributions. Read more...

Join us for a webinar on How to do Business with the U.S. Military, followed by a workshop. This event will enable vendors to understand more about procurement opportunities with the U.S. Military, and how to register their companies through their systems in order to start doing business with the U.S. Government.

Companies are allowed to register up to 2 people*.

AmCham Members click here to register

Non-Members click here to register

You are cordially invited to be part of our Inter-Council Virtual Speed Networking Event. This is a great chance for you to expand your business network and meet the members of the other business councils in Kuwait.

ABK, Al-Mogahwi offer free school supplies to students

KUWAIT: Al-Ahli Bank of Kuwait (ABK) held a special event in collaboration with Al-Mogahwi in Sharq, offering ABK customers a customized school supply box to welcome students back to school, after a long absence due to the pandemic. Yasmeen Al-Salem from ABK’s Marketing Department said: “It has been a very difficult time for children and parents due to the pandemic. Read more...

Cigna Foundation Expands Commitment to Help Thousands of Students, Educators, and Families Access Healthy Food, Mental Health Support

BLOOMFIELD, Conn., Sept. 17, 2021 /PRNewswire/ -- With children and families facing unprecedented challenges due to the stress of the pandemic, Cigna Foundation is teaming up with nonprofits across the country to ensure underserved students and families have access to healthy food and mental health support in schools. Read more...

EY: Four MENA IPOs raised US$425.8m in H1 2021

According to the EY MENA IPO Eye Q2 2021 report, the MENA region saw four IPOs raise total proceeds of US$425.8 million during the first half of 2021, a 48% drop in proceeds when compared with the same period in 2020. The number of listings stayed the same year-on-year.

The year 2021 began with a slow start after an uptick of issuances in Q4 2020. Following the three IPOs listed in Q1 2021, the second quarter of 2021 saw only one MENA IPO issued, Taaleem Management Services, which was listed on the EGX and raised US$131.0 million in proceeds.

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MEGLOBAL AMERICAS INC. PLANS FOR 100 PER CENT RENEWABLE ELECTRICITY AT OYSTER CREEK SITE BY 2023

OYSTER CREEK, TX – MEGlobal Americas Inc. (MEGlobal) has entered into an agreement with Calpine Energy Solutions, LLC to purchase renewable energy to fulfill 100 per cent of the expected power needs at MEGlobal’s Oyster Creek, TX site beginning in 2023.

The deal highlights the strong commitment made to sustainability by the EQUATE Petrochemical Group, of which MEGlobal is a part. Read more...

GAC joins call to action to decarbonise international shipping by 2050

The GAC Group has joined over 150 industry leaders and organisations urging world leaders to take action to align shipping with the Paris Agreement temperature goal.

The Call to Action for Shipping Decarbonisation, launched today, has been developed by a multi-stakeholder taskforce convened by the Getting to Zero Coalition – a partnership between the Global Maritime Forum, the World Economic Forum, and Friends of Ocean Action. Ahead of critical climate negotiations at COP26 in Glasgow this November,

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Hill International receives Five-Year IDIQ contract to continue providing CMI services to the Maryland Aviation Administration

PHILADELPHIA and BALTIMORE, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), delivering the infrastructure of change, announced today it was awarded an indefinite delivery/indefinite quantity contract to provide construction management and inspection (CMI) services to the Maryland Aviation Administration (MAA) until 2026. Hill has been providing CMI support for airside, landside, and terminal projects at Baltimore/Washington Thurgood Marshall Airport (BWI) and Martin State Airport (MTN) since 2015. Read more...

Cloud and Microsoft ecosystem will create 13,100 jobs in Kuwait by 2024: IDC Research

September 2, 2021; Kuwait City, Kuwait – Kuwait is accelerating its adoption of technology with large-scale investments that will create 13,100 new jobs in the economy, enabled through cloud and Microsoft’s ecosystem, according to new research by the International Data Corporation (IDC). This expansion results from an expected 3.5 times rise in public cloud services in the country, from approximately $32.0 million in 2019 to $112.3 million in 2024.Read more...

Zain sets final steps for Capital entrance renovation project



Zain, the leading digital service provider in Kuwait, welcomed H.E. Al Asimah Governor Sheikh Talal Khalid Al Ahmad Al Sabah at the company’s headquarters in Shuwaikh with the presence of Zain Kuwait’s Chief Executive Officer Eaman Al Roudhan and the company’s executive management. During the visit, the final steps were set for the upcoming project where Zain will contribute to renovating and greening the Capital’s main entrance. Read more...

KDIPA takes huge steps to attract technology firms

KUWAIT: The State of Kuwait Direct Investment Promotion Authority (KDIPA) carried out huge steps to attract big technology companies, allowing 42 of them to open offices in the Arab Gulf state including General Electric and Huawei. Technology is a main part of 2035 New Kuwait vision and KDIPA worked on achieving maximum benefits from potential of the Kuwaiti people by using expertise of major companies around the world. Read more...

Kuwait Vision 2035 could attract ‘FDI’

KUWAIT CITY, Sept 26: According to City Monitor website, Kuwait may not aspire to emulate the glitz of regional rivals, but through the plan of the New Kuwait 2035 Vision, it is hoping to compete in attracting Foreign Direct Investments (FDI), reports Al- Qabas daily. The website explained that Kuwait has a long history of foreign investment, as the Kuwait Investment Authority was established in 1953. It is therefore the oldest sovereign wealth fund in the world and one of the largest, with assets worth $700 billion. Read more...

PROJECTS: Kuwait to issue 3 oil tenders worth $2.85bln

OPEC member Kuwait intends to issue three major tenders worth around 865 million Kuwaiti dinars ($2.85 billion) involving pipeline construction, drilling tower supply and oil pollution clean-up, a local newspaper reported on Sunday. 

State-owned Kuwait Oil Company (KOC) will issue the tenders for the projects, which are part of ongoing development plans in the Gulf emirate’s hydrocarbon industry, the Arabic language daily Alanba said, citing KOC sources. 

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UAE, Kuwait strengthen space cooperation

ABU DHABI - The UAE Space Agency has welcomed Dr. Salah Mohammed Al Baijan, Kuwait’s Ambassador to the UAE, to strengthen bilateral cooperation and collaboration in the space industry.



During the meeting, the parties discussed ways to build on their long-standing partnership to accelerate the adoption of advanced technologies, enhance scientific expertise and catalyse growth in all space-related fields.

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PROJECTS: Kuwait revives plan to build 4th petrochem plant

Kuwait has decided to revive plans to build its 4th olefins complex within a long-term strategy to expand its petrochemical and refining industry to support economic diversification plans, a local newspaper said on Thursday.

 

The Petrochemical Industries Company (PIC) is “updating” plans to push ahead with the project that was mulled more than 4 years ago, the Arabic language daily Alanba said, citing “responsible” sources. 

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Plans to open Kuwait airport to its full capacity

KUWAIT CITY: The Supreme Committee for Corona Emergencies will meet over the next few days to coordinate efforts with the health authorities to open the airport with full capacity within two weeks, reports Al-Qabas daily.

The sources said the meeting will discuss the possibility of returning the airport to its normal state after taking the opinion of the health authorities, which will determine the possibility taking into the local and global epidemiological condition, expecting the country to achieve comprehensive community immunity after two weeks. Read more...

Kuwait to implement largest government restructuring in its history as of 2022

Kuwait plans to merge ministries, abolish others and create new strategies as part of the largest restructuring roadmap in its history over the next four years, Al Qabs reported. Beginning in 2022, the ministries of electricity, water and oil will come together under one umbrella called the 'Ministry of Energy', while a 'Ministry of Economy and Trade' will also be created.

Read more...

U.S. retail industry seeks 90-day lead time on COVID-19 rules

WASHINGTON- Two major U.S. retail industry groups on Tuesday asked the Biden administration for at least 90 days before imposing new rules that will require employees at larger firms to be vaccinated against COVID-19 or submit to regular testing.

On Sept. 9, the White House said the Occupational Safety and Health Administration (OSHA) is developing a rule that will require all employers with 100 or more employees to ensure their workforce is fully vaccinated, or require any workers who remain unvaccinated to produce a negative COVID-19 test once a week. Read more...

PM: Kuwait has given $327m to COVID vaccine initiatives

NEW YORK: Kuwait has provided assistance worth $327.4 million to initiatives worldwide aiming to ensure an equal distribution of COVID-19 vaccines, particularly to impoverished nations, HH the Amir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah’s representative said on Friday. Speaking at a United Nations General Assembly session, HH the Prime Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah called to ensure “a fair and safe global distribution of vaccines to all countries to reach a comprehensive immunization level”. Read more...

U.S. to end travel ban on all passengers who are vaccinated

WASHINGTON: The United States announced yesterday it will lift COVID travel bans on all air passengers in November if they are fully vaccinated and undergo testing and contact tracing. The unprecedented restrictions had kept relatives, friends and businesspeople around the world separated for many months as the pandemic grinds on.

Jeffrey Zients, coronavirus response coordinator for President Joe Biden, told reporters the new “consistent approach” would take effect “early November”. The easing of travel restrictions, imposed by Donald Trump 18 months ago as the COVID-19 pandemic first erupted, marks a significant shift by Biden and answers a major demand from European allies at a time of strained diplomatic relations. Read more...