If your company is interested in being an event sponsor or a raffle prize sponsor for upcoming events such as the Annual Iftar Event, Election Night, Fourth of July, or any other events, please contact us at communications@amchamkuwait.org, and we will provide you with more information about sponsorship opportunities. |
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| ABCK-AmCham Kuwait Members-Only Event |
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Mark your calendar: AmCham Kuwait will be hosting its Annual Board of Directors Election Night at . Please note that this is a Member-Only Event. More details will be updated accordingly. |
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Mark your calendar: Join us at our "Future of AI" event on May 30th for an in-depth exploration of responsible AI frameworks and their impact on education and healthcare. Gain insights from our Education Panel on adaptive learning, AI in administration, AI for special needs, and AI literacy. Dive into our Healthcare Panel to discuss AI in diagnostics, patient care automation, and the ethical considerations of AI in healthcare. Stay tuned for more details |
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| April 18, 2024: In a heartwarming collaboration, ABCK-AmCham Kuwait, in conjunction with Gulf Insurance Group, a pioneer in the insurance sector, continues its legacy of corporate social responsibility by extending a generous donation to the Kuwait Association for the Care of Children in Hospital & Bayt Abdullah Children's Hospice (KACCH / BACCH). The donation ceremony was graciously represented by Mrs. Dana Numan, Specialist, Corporate Communications, and Investor Relations Department. |
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| April 21, 2024: Embracing innovation and sustainability, we're delighted to visit our esteemed Chairman's Club member, Gulf Agency Company Ltd., as part of AmCham Kuwait's ongoing outreach, our team is meeting with chairman's club members to better understand their needs and explore ways to provide further support. |
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| April 22, 2024 - The ABCK-AmCham Kuwait in collaboration with the British Business Forum-Kuwait, Canadians in Kuwait, German Business Council Kuwait, Indian Business and Professional Council, Lebanese Business Council- Kuwait, Portuguese Business Council- Kuwait, and Spanish Business Council held an Inter-Council Speed Networking Event, attended by their respective Members and friends. |
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| April 22, 2024: ABCK AmCham Kuwait was honored to attend the "Supporting a Just Transition in Kuwait: The Role of the Private Sector", hosted by the ILO, Kuwait Chamber of Commerce and Industry, and the Delegation of the European Union. This conference took place at the Kuwait Chamber of Commerce & Industry, and facilitated discussions from industry leaders on sustainable practices to ensure employee job retention, while aggressively tackling the green transition. The session provided simultaneous interpretation in English and Arabic, focused on the private sector's role in this commitment. |
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| April 23, 2024: ABCK - AmCham Kuwait attended and supported The Kuwait Innovation Forum, a dynamic event hosted by The Business Year and the Kuwait Direct Investment Promotion Authority (KDIPA). It provided a great platform to delve into the latest insights and developments in Kuwait's economy and marked the launch of The Business Year: Kuwait 2024, TBY’s annual publication. |
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| April 23 & 24, 2024: AmCham Kuwait participated in the Career Fair at Box Hill College, engaging with students and sharing insights into the world of business and industry. |
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| AmCham Kuwait Member News |
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| 21 April, 2024: J.P. Morgan recently honored Al Ahli Bank of Kuwait (ABK) with the esteemed Elite Quality Recognition award for its exceptional performance in processing customer and financial institution transfers in US Dollars (USD) throughout 2023. |
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| 30 April, 2024: We are proud to announce that the American International University (AIU) is a CMI (Chartered Management Institute) accredited. This accreditation ensures that our programs meet rigorous standards of excellence, preparing our students for successful careers. |
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| 22 April, 2024: AUK in collaboration with the European Union Delegation to Kuwait and the Konrad Adenauer Stiftung Foundation (KAS) hosted a two-day simulation game on sustainability and climate change. The games were aimed at AUK students from various colleges and took place on-campus. |
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| 17 April, 2024: Minister of State for National Assembly Affairs, Minster of State for Youth Affair and Minter of State for Communications Affairs Dawod Marafi said Wednesday that Kuwait technical complex for entrepreneurship will build the capacity of Kuwaiti entrepreneurs in the technological and technical areas. |
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| 12 April, 2024: Cisco (NASDAQ: CSCO) today announced the completion of the acquisition of Isovalent, a leader in open source cloud native networking and security. This marks a significant step forward in Cisco’s commitment to define the future of secure, multicloud networking.
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| 23 April, 2024: At the beginning of April, DHL Freight put its first fully electric tractor-trailers from Mercedes-Benz Trucks into service. Effective immediately, the eActros 300 vehicles are being deployed for delivery and distribution transport at the Koblenz and Hagen sites. The truck stationed in Hagen makes transport more sustainable on round trips between the DHL branch and the Mercedes-Benz plant in Kassel, a Daimler Truck location. |
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| 29 April, 2024: Gulf Insurance Group (GIG) today held its Ordinary and Extraordinary General Assembly Meetings in which shareholders approved the Board of Directors’ recommendation to distribute cash dividend of 37% (37 fils per share) for the year ended 31 December 2023, the equivalent of 10.5 million Kuwaiti dinars. Attendance reached 91.947%. |
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| 24 April, 2024: Honeywell (Nasdaq: HON) today announced its hydrocracking technology can be used to produce sustainable aviation fuel (SAF) from biomass, helping to make sustainable aviation fuel (SAF) that is 90% less carbon intensive than traditional fossil-based jet fuels1. The new technology produces 3-5% more SAF2,3, enables a cost reduction of up to 20%3,4 and reduces by-product waste streams as compared to other commonly used hydroprocessing technologies. |
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| 15 April, 2024: L3Harris Technologies (NYSE:LHX) received a $256 million order from the U.S. Army for continued production of the Enhanced Night Vision Goggle – Binocular (ENVG-B). This is the first order for the ENVG-B’s Program of Record full-scale production IDIQ, which will total nearly $1 billion over 10 years. |
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| 15 April, 2024: The Missile Defense Agency selected Lockheed Martin [NYSE: LMT] to deliver the nation's new homeland missile defense capability, the Next Generation Interceptor (NGI). Lockheed Martin, as the MDA's NGI prime contractor, will provide the most modern, reliable, and technically advanced interceptor in the history of the Ground-based Midcourse Defense (GMD) system. |
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| 25 April, 2024: Dubai, UAE: Mashreq Releases 1Q 2024 Financial Results: Paving the Way for Sustainable Growth.
Mashreq is pleased to disclose its financial results for the first quarter of 2024, demonstrating the bank’s steadfast commitment to strategic priorities centered on client-centricity, operational and financial efficiency, robust risk management, and a people-first culture. These results emphasize the success of Mashreq’s strategic initiatives.
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| 17 April, 2024: After years of uncertainty from supply chain disruption and increased customer expectations, to changes in consumer demand and workforce shortages, manufacturing remains one of the most resilient and complex industries. Today, we are witnessing the manufacturing industry enter a transformative era, fueled by AI and new AI-powered industrial solutions. |
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| 25 April, 2024: Raytheon, an RTX (NYSE: RTX) business, has been awarded a $344 million contract for the development of two missile variants – the SM-2 Block IIICU and SM-6 Block IU – which will be based on a common guidance section, where the electronics and software that guide a missile to its target are housed. |
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| 1 April, 2024: Viatris Inc. (NASDAQ: VTRS), a global healthcare company, today announced the U.S. commercial launch of RYZUMVI™ (phentolamine ophthalmic solution) 0.75% for the treatment of pharmacologically-induced mydriasis produced by adrenergic agonists (e.g., phenylephrine) or parasympatholytic (e.g., tropicamide) agents in the United States. RYZUMVI is now the only U.S. commercially available FDA-approved eye drop to reverse dilation. |
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| 23 April, 2024: Zain has sponsored the Kuwait Innovation Forum, organized by The Business Year media group in collaboration with the Kuwait Direct Investment Promotion Authority (KDIPA). The event featured insightful discussions and expert panels to celebrate the spirit of innovation in Kuwait’s vibrant business sector. |
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| U.S. / Kuwait Business News |
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| Kuwait, April 1: Kuwait celebrated Monday the 20th anniversary of its designation by the United States as a strategic ally from outside NATO, as both countries share values that call for peace and stability in the world. This status — bestowed on Kuwait on April 1, 2004, by the US — has strengthened the close bilateral relations dating back to 1951 when the US opened its first consulate in the capital, Kuwait City. |
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| Kuwait, April 30: The Dean of Kuwait Journalism and Editor-in- Chief of Al-Seyassah and Arab Times newspapers, Ahmed Al-Jarallah, welcomed the Ambassador of the United States of America, Karen Hideko Sasahara, along with Public Diplomacy Offi cer Stuart Turner and Press and Media Specialist Dina Al-Mallak, to the Al-Seyassah Press House on Tuesday afternoon. During the meeting, they engaged in discussions on various topics of mutual interest, particularly focusing on press and media matters. |
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| Kuwait, April 9: According to sources within the residency sector of the Ministry of Interior, the advisory committee overseeing demographic issues has proposed a linkage between the expansion of work permits for foreign workers from multiple countries and the establishment of health insurance hospitals and dispensaries for expatriates. |
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| Kuwait, April 14: The Food and Nutrition General Authority has rolled out a new initiative aimed at enhancing public awareness about the nutritional content of packaged foods. Under the banner of “Your Hand is in Our Hand,” this initiative introduces a system of light signals on the front of food packages, making it easier for consumers to make informed dietary choices. |
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| Kuwait, April 16: The coordination between the Ministries of Electricity, Water, and Renewable Energy, and the Ministry of Interior has taken a significant step forward as electronic connection procedures are nearing completion. Informed sources disclosed that Kuwaiti citizens will soon be required to settle their dues to the Ministry of Electricity before carrying out transactions related to the Ministry of Interior. |
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| Kuwait, April 18: Kuwait Petroleum Corporation (KPC) launched a unified electronic commerce platform for the oil sector to facilitate and develop relations between the corporation and its subsidiaries on the one hand and its partners inside and outside on the other. Speaking at a festival organized by the corporation in Ahmadi City, CEO of KPC Sheikh Nawaf Saud Al-Nasser Al-Sabah said the platform is the first phase of the “smart purchasing” initiative. |
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| Kuwait, April 18: The Ministry of Justice has introduced a new service called “Partial or Full Payment to the General Administration of Execution” through the Sahel application, reports Al-Jarida daily. This service enables users to access information regarding the amounts owed to them by the General Administration of Execution and allows them to make partial or full payments towards these amounts. By utilizing this service, individuals can settle their debts partially or in full. |
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| Kuwait City, April 20: Deputy Prime Minister, Minister of Defense, and acting Minister of Interior Sheikh Fahad Yousef Al-Sabah issued a ministerial decision amending some provisions of Ministerial Resolution No. 957/2019 on the executive regulations of the Foreigners’ Residency Law and its amendments, reports Al-Anba daily. Article One of the decision states that Article 12 of Ministerial Resolution No. 957/2019 is amended as follows: ”A foreigner who entered the country by Clause Nos. 1-7 and 14 of Article Four of this decision may remain here without a residence permit for a period not exceeding two months from the date of his entry. |
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| Washington, April 20: The Kuwait Fund for Arab Economic Development (KFAED) has signed a memorandum of understanding for development cooperation with the International Labor Organization. The MoU was co-signed by KFAED’s Acting Director General Walid Al-Bahar and ILO’s Assistant Director-General for External and Corporate Relations, Laura Thompson, on the sidelines of the 2024 spring meetings of the International Monetary Fund and the World Bank. |
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| Kuwait City, April 21: As part of its ongoing efforts to combat money laundering, the Central Bank of Kuwait has implemented a new auditing system requiring intensified inspections of money transfers to and from Kuwait. This move aligns with the standards set by the Financial Action Task Force (FATF), reports Al-Rai daily. The Central Bank has mandated that exchange companies under its supervision hire an impartial global auditing firm to assess compliance with Law 106/2013, which addresses money laundering and terrorist financing. |
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| Kuwait City, April 22: The Kuwait Finance House (KFH) report revealed that real estate transactions in 2023 amounted to 3.1 billion dinars (contracts and agencies), marking a 21.1% decrease from the previous year, reports Al-Qabas daily. This decline was primarily driven by reduced transactions in private housing, which amounted to approximately 1.45 billion dinars, down by 27.2% compared to the previous year, representing 47.1% of total transactions. Investment real estate transactions also decreased to 906 million dinars, a drop of 18.8%, constituting 29.2% of total trades. |
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| Kuwait City, April 22: The Ministry of Health (MoH) confirmed on Monday its keenness to regularly review and update the National Immunization Program with the help of national specialists in accordance with the latest scientific developments at the international level. This came in a speech by the Assistant Undersecretary of MoH for Public Health Affairs, Dr. Munther Al-Hasawi, during the opening of National Immunization Week, which includes multiple scientific and awareness-raising activities. |
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| Kuwait City, April 27:THE three biggest economic powers and the three largest oil consumers – the USA, China, and India – are set for stable economic growth, thereby pushing for increased demand for oil. This has helped in stabilizing oil prices after two weeks of losses and concerns about further decline in the oil prices. |
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| Kuwait, April 28: Kuwait’s Ministry of Electricity and Water and Renewable Energy is expected to award the contract for the supply and Installation of a 400kV overhead line to Abdali Z station in the third quarter of 2024, according to a source. |
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| Kuwait City, April 29: The Public Authority of Manpower (PAM) held a workshop to mark the World Day of Occupational Health and Safety under the slogan “Towards a Safe Work Environment.” The Acting Deputy Director General of Planning and Administrative Development, Eng. Rabab Al-Osaimi, welcomed the attendees in a speech and thanked them for their cooperation and keenness to ensure safety for workers in various sectors by providing a safe and healthy working environment. |
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| Kuwait City, April 30: The Kuwait Municipality has unveiled plans to kickstart the “License Your Advertising” campaign across all governorates of the country, starting from the beginning of May. This initiative aims to ensure that all advertisements comply with the necessary licensing regulations. |
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| US, April 11: The U.S. Department of Energy’s Bioenergy Technologies Office (BETO) and Office of Fossil Energy and Carbon Management (FECM) have released the MACRO: Mixed Algae Conversion Research Opportunity funding opportunity announcement (FOA). |
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| US, April 29: ERIE, Pa., April 23, 2024 – Today, in honor of Earth Day 2024, Agriculture Deputy Secretary Xochitl Torres Small announced that the U.S. Department of Agriculture (USDA) is funding more than 700 clean energy projects to lower energy bills, expand access to domestic biofuels and create jobs and new market opportunities for U.S. farmers, ranchers and agricultural producers. Many of the projects are funded by President Biden’s Inflation Reduction Act, the nation’s largest-ever investment in combating the climate crisis. |
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| US, April 30: Today, the Department of Commerce announced that more than half of its federal contract dollars were awarded to small businesses in Fiscal Year (FY) 2023, with a total investment of $2.8 billion in the small business economy. In addition, the Department of Commerce directed more than 25% of its contract dollars to Small Disadvantaged Businesses, for a total of $1.4 billion. |
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| US, April 30: WASHINGTON, D.C. — The U.S. Department of Energy (DOE) today finalized Congressionally-mandated energy-efficiency standards for a range of residential water heaters to save American households approximately $7.6 billion per year on their energy and water bills, while significantly cutting energy waste and harmful carbon pollution. The final standards for residential water heaters align with recommendations from various stakeholders, including efficiency and environmental advocates, the Consumer Federation of America, and a leading U.S. water heater manufacturer. |
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| Offers & Discounts for AmCham Kuwait Members |
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See other offers and discounts at: https://www.amchamkuwait.org/member-offers-discounts
If you would like to become part of the offers and discounts program, please reach out to us and let us know what types of offers and discounts you'd like to offer AmCham Kuwait Members.
For questions, please reach communications@amchamkuwait.org |
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