ABCK - AmCham Kuwait Newsletter

Newest Corporate Member

Prime One Group: ABCK-AmCham Kuwait would like to welcome Prime One Group into its corporate members' circle. provides focused expertise compliance with US construction codes, in Buildings, Electrical & Mechanical work, Runways, Hangers, PEBs, Stormwater and Infrastructure support, Roads, and Architectural work amongst other services to military coalition forces based in Kuwait, Iraq, Jordan, Middle East, and Africa. We have worked for, with, and alongside many federal projects for almost two decades and attribute our growth and development to these years of valuable partnership.

POG is well known for delivering excellent services at a competitive value to clients. It is synonymous with professionalism, performance, and safety standards. We are continuously expanding our services to provide effective solutions across the world.

Other services: Life Support Services, Maintenance services. Logistics and Fleet support services, Supply and services

Industry: Construction & Engineering Procurement Learn more...

Dell Technologies Elevates The Hybrid Work Experience

Story Highlights

Expansion of AI-powered software suite drives greater collaboration, privacy, and connectivity

New sustainable materials across more products and packaging are designed to help reduce environmental impact

Updates across portfolio push new standards – introducing industry’s most powerful 14-inch mobile workstation;2 world’s smallest 14-inch 16:10 business PC;3 and world’s first docking station with a wireless charging stand for Qi-enabled smartphones and earbuds4 Read more

Defense/Safety/Security - Focus Group Meeting

April 14 - ABCK-AmCham Kuwait's Defense, Safety, & Security (DSS) Focus Group (FG) held its 1st meeting for 2022. DSS Members came together to discuss some of the current challenges that they face, as they provided in-depth insights on their general concerns which affect the DSS sector as a whole. The DSS FG will continue to meet internally in order to work together toward solutions for the three-main challenges that were presented during the meeting. Read more

AmCham Kuwait Annual Iftar

April 20 - ABCK-AmCham Kuwait held its annual Iftar Dinner, sponsored by Corporate Member- American University of Kuwait (AUK) (Platinum Sponsor), Chairman's Club Member (Gold Sponsor): Raytheon Technologies, and Exclusive Airline Partner for this event: KLM Royal Dutch Airlines. We would like to recognize KACCH & BACCH once again for all their efforts to support children and their families in their health journey. Congratulations to all the raffle winners, and we thank the raffle prize sponsors: KLM, Taiba Market (Oncost), Best Al Yousifi, Cloud9 (Al Bahar), The Hilton Kuwait Resort, Alshaya's Cheesecake Factory, P.F. Chang's, Babel, and Tory Burch (Habchi & Chalhoub). Read more

'Contracting and Submitting Proposals to the U.S. Military' Series

April 27 - ABCK-AmCham Kuwait hosted the 'Contracting and Submitting Proposals to the U.S. Military' Series together with the U.S. Military. The U.S. Military held presentations on the topic of sending proper proposals, requisites for upcoming projects, and upcoming opportunities in Kuwait. Both units also spoke about the importance of keeping registrations (such as SAM) up to date in order to be able to bid for these contracts. This is a quarterly series that touches upon different topics on 'Doing Business with the U.S. Military', as it allows vendors to further understand the requirements of successfully obtaining and executing projects according to U.S. Military standards. Learn more...

Visit our Website

Do you want to expand your business into the United States? Do you need guidance on finding the right business location, right partners, or the right market?

Join the U.S. Embassy in Kuwait for the 2022 SelectUSA Investment (SelectUSA Investment Summit (selectusasummit.us) summit to be held in person from June 26-29 in Washington, DC. You are invited to join the Embassy’s delegation to the summit. To register, please go to https://www.selectusasummit.us/Applications/Investment-Summit-Application

For more information, please contact the Senior Commercial Specialist at

Dina.Al-Shawa@trade.gov

ABK Pledges Support to KNPC's Clean Fuels Project

April 18, 2022 – Al Ahli Bank of Kuwait (ABK), pledges support to Kuwait National Petroleum Company (KNPC)'s new green initiative - 'Clean Fuels Project'. The project aims to reduce carbon emissions and pollution by using products and services that meet strict environmental standards.

As part of its commitments to KNPC's 'Clean Fuels Project' ABK lit up the façade to Head Office in hues of green to raise awareness... Read more...

The Invictus Games Foundation Welcomes Boeing as Official Partner

March 29, 2022 – The Invictus Games Foundation is pleased to welcome Boeing [NYSE: B.A.] as Official Partner in a multi-year agreement supporting international wounded, injured and sick service personnel and veterans. Boeing is also announced as Premier Partner to the upcoming Invictus Games The Hague 2020, presented by Jaguar Land Rover, and to the Invictus Games Düsseldorf 2023. Read more...

Kuwait Data Center Market Investment Analysis & Growth Opportunities Report 2022-2027 - ResearchAndMarkets.com

Kuwait is an emerging IT hub in the Middle Eastern region. Under the initiative Vision 2035, Kuwait aims to be a "financial and commercial" center in the Middle Eastern region. Government agencies and private sectors switch to digital platforms, which enhance the development of cloud, colocation, and managed facilities, thereby boosting the data center market growth. Read more...

GLOBAL ART MARKET DISRUPTION

Please find attached the latest report under the Citi GPS: Global Perspectives & Solutions banner. Click to read document.

The COVID-19 pandemic has been a catalyst for rapid change in the art market. With galleries forced to close their doors, international art fairs postponed, and major auctions delayed, the art world quickly needed to adapt. In our 2020 Citi GPS report The Global Art Market and COVID-19, we highlighted how the industry was adept in shifting to the digital world, with leading auction houses conducting virtual auctions, and art fairs going online and creating new kinds of experiences for attendees. Read more...

Firewall as a Service (FWaaS) Industry Market Is Thriving Worldwide

How about a well-researched study on the Firewall as a Service (FWaaS) Industry that includes an in-depth review of different patterns, programs, and goods that have the potential to cause a paradigm shift in the growth rate? This is a reality. Based on the latest changes in the Firewall as a Service (FWaaS) Industry, Market Reports is the solution to all of your questions! During the forecast era, the study provides a detailed overview of the most profitable opportunities around the different segments in terms of revenues and volumes. Read more...

Markaz: Gulf Insurance Group Reigns the Top Kuwaiti-led Transactions for 2021 With the Acquisition of Axa S.A.’s Gulf-based Operations

Companies in other GCC countries. With the exception of Qatar, Kuwaiti buyers closed at least one transaction involving companies based in the GCC.

Overall, Kuwaiti acquirers primarily targeted companies within the Financials, Real Estate and Industrials sectors. Collectively, these transactions accounted for 66% of the total transactions closed by Kuwaiti buyers within the GCC.

Honeywell Strengthens Its Sustainability Commitments; Will Set Science-Based Target That Includes Scope 3 Emissions

CHARLOTTE, N.C., April 13, 2022 /PRNewswire/ -- Honeywell (NASDAQ: HON) announced a new set of commitments that further advance its sustainability goals beyond the company's existing commitment to become carbon neutral in its facilities and operations by 2035. The new pledges include a commitment to develop a science-based target with the Science Based Targets initiative (SBTi) that includes scope 3 emissions and participation in the U.S. Department of Energy's Better Climate Challenge. The company also supports the Paris Climate Agreement. Read more...

L3HARRIS Awarded $6 Billion IDIQ Contract To Replace Legacy SINCGARS Radios to U.S. Army

ROCHESTER, N.Y. – L3Harris Technologies (NYSE:LHX) was one of two vendors awarded a $6 billion-ceiling IDIQ contract to deliver advanced tactical radios under the U.S. Army’s Combat Net Radio (CNR) modernization program. The contract includes a five-year base and an additional five-year option. L3Harris received an initial delivery order of $20 million.

L3Harris is the incumbent supplier of the Single Channel Ground and Airborne Radio System (SINCGARS) radio, currently used by U.S. and allied military forces,.. Read more...

Forbes Middle East Reveals The Region's Top Healthcare Leaders

Forbes Middle East has unveiled its first ranking of the region's Top 50 Healthcare Leaders, featuring the innovation-driven pioneers of the Middle East's largest and most impactful healthcare organizations.

Among the top five, three entrants head hospitals. Sulaiman Al Habib, Founder and Chairman of the Dr. Sulaiman Al-Habib Medical Services Group (HMG) tops the list. In 2021, HMG recorded $1.9 billion in revenues. Hanan Mohamed Al Kuwari, Managing Director of the Hamad Medical Corporation, and Said Darwazah, Executive Chairman of Hikma Pharmaceuticals, round up the top three. Darwazah is the only leader from Jordan to make the list.

Zain posts 6% jump in Q1 net profit; revenue soars to $1.3bln

Kuwait - Zain Group, a leading telecom innovator with operations in seven markets across the Middle East and Africa, has registered a net profit of KD47 million ($156 million) for the first three months, up 6% over last year, while its revenues for Q1 rose 7% to hit $1.3 billion.

Announcing its consolidated financial results for the three months ended March 31, 2022, Zain Group said it had generated consolidated revenue of KD408 million ($1.3 billion) for the Q1 2022, up 7% year-on-year (Y-o-Y).

United States Removes Kuwait from Intellectual Property Watch List

Kuwait, Kuwait: Today, the Office of the United States Trade Representative (USTR) has announced its decision not to list Kuwait in the 2022 Special 301 Report as a result of its continued and significant progress on concerns that stakeholders identified with intellectual property (IP) enforcement and transparency.

Kuwait is removed from the Watch List this year due to its increased enforcement against the sale of counterfeit goods and the establishment of online portals at the Ministry of Commerce and Industry and the Copyright Office for respectively streamlining the submission of trademark and copyright violation reports.

Kuwait to drop Covid-19 vaccination and PCR testing requirements for arriving travelers

Kuwait’s Cabinet on Wednesday agreed to end all coronavirus vaccination and PCR testing requirements for incoming travellers.

At an extraordinary meeting, ministers also decided that wearing masks at indoor and outdoor venues will now be optional, the official Kuna news agency reported.

However, symptomatic Covid-19 patients must still wear masks, Deputy Prime Minister, Oil Minister and State Minister for Cabinet Affairs Mohammad Al Fares said

Readout of Secretary of Defense Lloyd J. Austin III's Call With Kuwaiti Deputy Prime Minister and Minister of Defense, H.E. Sheikh Talal Khaled Al-Ahmad Al-Sabah

Pentagon Press Secretary John F. Kirby provides the following readout:

On April 1, Secretary of Defense Lloyd J. Austin III spoke by phone with Kuwaiti Deputy Prime Minister and Minister of Defense, His Excellency Sheikh Talal Khaled Al-Ahmad Al-Sabah. Secretary Austin congratulated the minister on his recent appointment and praised the enduring strategic relationship between the United States and Kuwait. Read more...

Kuwait ranks 47th globally in terms of merchandise exports

KUWAIT CITY - With the increase in the value of Kuwait’s merchandise exports from $40.1bln in 2020 to $71.4bln in 2021, Kuwait is in 47th position globally and fourth in the Gulf in terms of total merchandise exports, according to the latest data issued by the World Trade Organization, reports Al-Rai daily.

Kuwait’s imports of goods also increased from $27.7bln in 2020 to $33.2bln in 2021, thereby ranking 66th globally and third in the Gulf after the UAE, which imported goods worth $319bln and was ranked 21st globally, and Saudi Arabia with an import value of $155bln and was ranked 32nd globally. Read more...

‘Reconsidering’ the oil strategy

The CEO of the Kuwait Petroleum Corporation, Sheikh Nawaf Saud Al-Sabah, has called on the KPC’s board of directors to reconsider the oil strategy, review the reasons for its delay in achieving it, and the extent of its realism, putting the facts on the table, and then start implementing it according to the available capabilities, reports Al-Rai daily quoting oil sources.

The sources said that despite reviewing the institution’s strategy more than once during the past years, changing the target numbers and keeping pace with each stage of time with global changes, there remains a delay in achieving them even with the change of executive departments and ministers.

Kuwait's Al-Zour refinery to be operational within few weeks

KUWAIT CITY - Al-Zour refinery is set to be operational within the next few weeks, said the Kuwait Integrated Petroleum Industries Company (KIPIC). In a press statement, KIPIC denied what was reported about the suspension of the refinery’s operation, stressing that it was “untrue.”

Al-Zour Refinery is the largest in Kuwait to be established in accordance with international environmental specifications and standards, as it will contribute to improving air quality by reducing the percentage of polluting gases emitted from power plants by 75% by providing them with environmental fuels with low sulfur content. Read more...

UAE AND KUWAIT STEP UP EFFORTS TO SMOOTH CROSS-BORDER TRADE

Abu Dhabi’s AD Ports Group has signed a Memorandum of Understanding (MoU) with the Kuwait General Administration of Customs to establish a new virtual trade corridor between the UAE and Kuwait, under the supervision of Department of Economic Development – Abu Dhabi (ADDED).

Building on existing cooperation between the UAE and Kuwait, the MOU provides for Maqta Gateway, AD Ports Group’s digital arm, to develop the new virtual trade corridor based upon its Advanced Trade & Logistics Platform (ATLP).

Central Bank ups discount rate to 2.00%

KUWAIT: The Central Bank of Kuwait (CBK) announced Wednesday raising the discount rate from 1.75 percent to 2.00 percent effective May 5. A CBK press release said as part of the Bank’s vigilant monitoring of domestic and international economic and geopolitical developments, in addition to monetary policy trends in the global economies, the CBK Board of Directors decided to raise the discount rate by 0.25 percent to 2.00 percent effective May 5, 2022. Furthermore, the CBK decided to modify the rates of monetary policy instruments by varying percentages for the entire interest rate yield curve, including repurchases (Repo), CBK bonds and tawarruq, term deposits, and direct intervention instruments, as well as public debt instruments. Read more...

U.S. Department of State’s Equity Action Plan

This Equity Action Plan outlines specific actions, metrics, and accountability efforts to improve the efficiency and effectiveness to successfully integrate Executive Order (E.O) 13985 into all aspects of our foreign affairs mission.

U.S. Foreign Policy

Prioritize engagements with diplomatic partners and individuals from underrepresented and underserved communities worldwide to better assess and embed equity into U.S. foreign policies. Read more...

Establishment of the Bureau of Cyberspace and Digital Policy

The Department is pleased to announce that the Bureau of Cyberspace and Digital Policy (CDP) began operations today. A key piece of Secretary Blinken’s modernization agenda, the CDP bureau will address the national security challenges, economic opportunities, and implications for U.S. values associated with cyberspace, digital technologies, and digital policy.

The CDP bureau includes three policy units: International Cyberspace Security, International Information and Communications Policy, and Digital Freedom.

USDA Opens Grants Application to Improve SNAP Customer Service

WASHINGTON, April 26, 2022 – The USDA’s Food and Nutrition Service today announced that $5 million in competitive grants are being made available to enhance efficiency and access in the Supplemental Nutrition Assistance Program through process and technology improvements.

The SNAP Process and Technology Improvement Grants are awarded through a competitive application process. The multi-year grants seek to improve the experience of SNAP participants by enabling grantees to update inefficient or ineffective processes or use technology to streamline operations and provide better customer service.

United States: U.S. Department Of Commerce Announces The Establishment Of A Global CBPR Forum

On April 21, 2022, Canada, Japan, the Republic of Korea, the Philippines, Singapore, Chinese Taipei, and the United States of America issued a Global Cross-Border Privacy Rules Declaration announcing the establishment of the Global Cross-Border Privacy Rules Forum ("Global CBPR Forum"). U.S. Secretary of Commerce Gina M. Raimondo, in her statement, described the establishment of the Global CBPR Forum as "the beginning of a new era of multilateral cooperation in promoting trusted global data flows" and its intent to create "first-of-their-kind data privacy certifications that help companies demonstrate compliance with internationally recognized data privacy standards." Read more...