ABCK-AmCham Kuwait Newsletter

June 24, 2021: Health Alert – Updated Restrictions on Expat Return & New Restrictions on Entry into Public Spaces

Event: On June 17, the Government of Kuwait announced new regulations on non-Kuwaiti residents’ return to Kuwait and new restrictions on entry into public spaces for non-vaccinated persons.

Effective August 1, vaccinated non-Kuwaiti residents are allowed entry into Kuwait provided that they are fully vaccinated with a vaccine approved by the Government of Kuwait. Fully vaccinated persons are those who have received two doses of the Pfizer, Oxford AstraZeneca, or Moderna vaccines, or one dose of the Johnson & Johnson vaccine as of August 1. Read more...

Banking & Finance Focus Group Topic- Economic Diversification

The objective of economic diversification is to shift the economy away from relying on a single source of income to one that includes sources from a wide range of sectors and markets. The strategy is traditionally used to promote positive economic development and growth. It takes on new relevance in the context of climate change adaptation as a means of diverting income away from vulnerable products, markets, and jobs, and in favor diverse, climate-resilient sources. Read more...

HR Focus Group Topic- The Aging Workforce

Ageism is defined as the prejudice and discrimination towards individuals based on their age. Ageism affects the way that individuals value themselves, and limits their ability to benefit and contribute to society. Globally, companies are shifting their policies in order to retain "older" workers, as research has shown major advantages in having a diverse workforce.

Kuwait B2B Inter-Council Speed Networking Event

June 3, 2021: ABCK-AmCham Kuwait, Australian Business Group Kuwait, British Business Forum Kuwait, Canadian Business Council, German Business Council- Kuwait, and Portuguese Business Council – Kuwait held their first Inter-Council networking event for 2021, to foster new relationships among member companies throughout the network of Chambers and Councils in the State of Kuwait. Read more...

Data Loss Protection, Cybersecurity Regulations and Best Practices in Kuwait

June 30, 2021. The ABCK-AmCham Kuwait held a ‘Data Loss Protection (DLP), Cybersecurity, and Best Practices in Kuwait’ panel discussion, with the support of the Communication & Information Technology Regulatory Authority (CITRA) and the U.S. – Kuwait Business Council. The panelists for this discussion included Mohammad Altura -Chief, Market Regulations & Competition at CITRA, Vivek Joshi – Deputy Counselor for Economic Affairs at the U.S. Embassy in Kuwait, Alain Sanchez – EMEA CISO at Fortinet, Majd Abbar – National Technology Officer at Microsoft, Ayed Al Qartah, M.Sc. – Technical Solutions Architect at CISCO, Faisal M. AlAli- Enterprise Risk Management Manager at Zain. The discussion was moderated by Dana Winner, M.Sc. – Cybersecurity Policy & Certified Information System Security Professional (CISSP). Read more...

2nd Edition MENA Energy Meet is the ideal virtual meeting place for global and regional energy stakeholders, C-level executives, leading industry experts, decision makers, policy makers, and government officials from across the value chain to engage in dialogue, discuss current challenges and business opportunities, develop market strategies, share their knowledge, deliberate approaches and identify solutions aimed at shaping the future of the energy sector.

Click here for more information & registration

ABK promotes employees’ health, mental wellbeing

KUWAIT: In its continuous efforts to promote physical activity and mental wellness amongst its employees, Al-Ahli Bank of Kuwait (ABK) launched its internal health and wellbeing program earlier this year, in alignment with the World Health Organization’s ‘Five Ways to Wellbeing at Work’ framework. Read more...

CIGNA International COVID-19 Vaccine Perception Study

This report, the second in a series, summarizes the key findings from Cigna’s COVID-19 Vaccine Perception Study which aims to better understand perceptions and attitudes towards COVID-19 vaccines around the world. Read more...

Development Financial Institutions in the GCC can evolve their role to ensure that the Post-COVID economic recovery is sustainable and embraces the future.

Development Financial Institutions (DFIs) in Gulf Cooperation Countries (GCC) have been playing a significant role in supporting economic diversification, increasing the participation of the private sector, and accelerating the expansion of Small and Medium Enterprises (SMEs). Read more...

Kuwait minister confirms Fluor to rebuild refinery

Kuwait's Oil Minister confirmed yesterday that Fluor Daniel and Korea's Sunkyong will rebuild Kuwait's Ahmadi refinery under an intial cost of $298 million agreed to with the plant's insurance firm. Read more...

HILL International to manage On-Call Professional Service Program for Los Angeles World Airports

PHILADELPHIA and LOS ANGELES, June 07, 2021 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), delivering the infrastructure of change, announced today it was selected by Los Angeles World Airports (LAWA), a Department of the City of Los Angeles, to manage airport concessions development, tenant projects, and airport commercial analysis... Read more...

Honeywell Continues Transition To Next-Generation Refrigerant In Collaboration With Trane Technologies

MORRIS PLAINS, N.J., June 29, 2021 /PRNewswire/ -- Honeywell (Nasdaq: HON) today announced it will partner with Trane Technologies (NYSE: TT) to accelerate the transition to a next-generation, environmentally preferable refrigerant by field testing Honeywell's Solstice® N41 (R-466A), the industry's first nonflammable alternative to R-410A. Read more...

CAIT and Microsoft collaborate to launch AIBS Program

24 June, 2021; Kuwait City, Kuwait: The Central Agency for Information Technology (CAIT) in partnership with Microsoft has announced that it will launch a training program aimed at building knowledge and confidence in AI for Kuwaiti leaders across the government sector. Read more...

Zain signs partnership with PASS

Zain, the leading digital service provider in Kuwait, announced the signing of a partnership agreement with PASS, a Kuwait-based app and the ﬁrst smart parking management system in the Middle East. The partnership enables Zain’s postpaid customers to exclusively enjoy cashless and ticketless parking and pre-booking services without the need to continuously top up within the app. Read more...

YOUR TRUST IN MY HANDS … WILL NOT BE BETRAYED

Amir to ‘Al-Seyassah / Arab Times’: We observe the scene and give one chance after another

KUWAIT CITY, June 22: Two days ago I had the honor of meeting and interviewing His Highness the Amir of Kuwait Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah. I hereby convey the details of the interview to the esteemed readers, but within the limits approved by the Council of Ministers’ General Secretariat (CMGS). This is the first interview of His Highness the Amir to a Kuwaiti newspaper. It comes at a decisive and timely period, and at a defining moment in the march of Kuwait and the region. Click to read more

‘Qamar Al-Kuwait’ satellite launch into space June 24

KUWAIT CITY, June 13: The General Manager of the Orbital Space Company, Dr Bassam Al-Faili announced the first Kuwaiti satellite; ‘Qamar Al-Kuwait’ will be launched into space on June 24 from the rocket launching pad in Florida in the United States of America, reports Al-Qabas daily. Al-Faili told the daily this is purely a Kuwaiti production, saying, ‘I installed it myself and it cost me 50,000 dinars of my money.” Click to read more

Kuwait, US officials inspect naval base

KUWAIT: Undersecretary of the Ministry of Interior Lt Gen Essam Al-Naham and Commander of US Naval Forces Central Command, US Fifth Fleet and Combined Maritime Forces Vice Admiral Brad Cooper, underscored Friday the importance of enhancing security cooperation in the field of maritime security between Kuwait and the US. Click to read more

Mobile ID, Immune app needed to gain entry to public venues

The Cabinet’s decision to allow only vaccinated people to enter large commercial complexes with an area of more than 6,000 square meters, as well as to dine-in restaurants, cafes, health clubs, and salons, is scheduled to come into effect from Sunday 27 June. Click to read more

Kuwait discovers nine oil wells,

8 large oil reservoirs in 3 years

KUWAIT CITY, June 23: Since 2018 Kuwait has discovered nine oil wells and 8 large oil reservoirs and that two wells were already transferred to the Asset Management sector in March 2021, reports Al-Anba daily quoting highranking oil sources. The same sources said during fiscal 2019/2020, 6 new wells were discovered...Click to read more

Law bars companies with non-Kuwaiti part owners from owning property

KUWAIT: The Kuwait Real Estate Union released a statement yesterday criticizing regulations that ban any Kuwaiti commercial company from owning properties in the country in case it has one or more non-Kuwaiti part owners. According to the union, the justice ministry has recently stopped transferring properties to companies that do not have full-Kuwaiti shareholders, based on a law that was issued in 1979. Click to read more

Cabinet urges public in Kuwait to receive anti-COVID vaccine

KUWAIT: The Cabinet appealed to people to receive the anti-coronavirus vaccines to maintain safety of both individuals and the society. This came during the Cabinet’s weekly meeting held at Seif Palace on Monday, under chairmanship of His Highness the Prime Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah. It urged people to ignore all rumors and false information circulated about the vaccines, in light of the spread of the disease and its rapid repercussions that require concerted efforts of all as a common societal responsibility. Click to read more

Average 2021 tax refund up from past 3 years

The 2021 tax season was the "quintessential definition of a perfect storm" according to officials, but the total average refund from the returns processed so far is slightly higher than previous tax seasons.

National Taxpayer Advocate Erin M. Collins said in a report to Congress issued this week that the average refund so far for the 2021 season is $2,827, which is about 2% higher when compared with the past three years. The average refund in 2020 was $2,748, while the averages came out to $2,725 in 2019 and $2,780 in 2018. Click to read more....

USDA to Invest $10 Million to Support Climate-Smart Agriculture and Forestry through Voluntary Conservation

WASHINGTON, June 24, 2021 – The U.S. Department of Agriculture (USDA) is providing $10 million to support climate-smart agriculture and forestry through voluntary conservation practices in 10 targeted states. This assistance, available through the Environmental Quality Incentives Program (EQIP), will help agricultural producers plan and implement voluntary conservation practices that sequester carbon, reduce greenhouse gas emissions and mitigate the impacts of climate change on working lands. Click to read more...