| Newest Chairman's Club Member |
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Union Trading Company W.L.L. (UTC) - is one of the leading Retailer and Distributor companies in Kuwait, established in 1949 as one of the first retail outlets in the GCC region.
UTC maintains an outstanding partnership with global brands present in the field of AC, Electrical Appliances, FMCG, Apparel, Cosmetics, Perfumes, Bed & Bath, Household Goods, and Healthcare Solutions with a strong distribution network including numerous retail outlets, which cater to the nation at large. Industry: Retail |
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| Important Announcement - Board of Directors 2023-2024 |
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It is our pleasure to announce to you the results of the Board of Directors Elections for 2023-2024. Congratulations to the newly elected AmCham Kuwait Board of Directors Members! |
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| Tax Filling for U.S. Persons - June 15 |
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If you are a U.S. citizen, a green card holder, or a U.S. person, the rules for filing income tax returns are generally the same whether you are in the United States or abroad. The deadline for filing your U.S. tax return is June 15, 2023. If you are not ready to file, contact Tarraf & Associates for a free extension.
Wherever in the world you live, if you are a U.S. citizen or green card holder and you earned more than $12,950 you are required to file a US federal tax return and pay any taxes due by June 15. Also, if you have more than $10,000 in total in bank accounts outside the United States at any time during the year, you need to file a Report of Foreign Banks and Financial Accounts, FBAR.
However, many tax-saving strategies are available for Americans working abroad. Foreign Earned Income Exclusion is one of them. Foreign Earned Income Exclusion allows you to exclude up to $112,000 of your foreign-earned income from U.S. tax liability, which means that you do not have to pay any taxes on the first $112,000 of your income. In addition, you can deduct your housing expenses (rent, utility bills, insurance, rented furniture, repairs, and even parking) to reduce your taxable income.
But, to benefit from this exclusion, you need to file Form 2555 and meet either the Bona Fide Resident Test or Physical Presence Test.
Tarraf & Associates has over fifteen years of experience preparing US tax returns for Americans living abroad. If you have a tax question or need help preparing your US tax return, please contact us for a free consultation. www.tarrafcorp.com |
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June 15, 2023 - In honor of Blood Donor Day, AmCham Kuwait together with its members is organizing a blood drive on the 15th of June from 9 AM - 12 PM at Adan Blood Bank. |
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| AmCham Kuwait held a visit to Al Mufid's Office in order to talk about collaboration, trade, and the expansion of their business. Al Mufid recently became a part of the conglomerate 'Clover' and now has 5 different business units operating in sectors such as: pharmaceuticals, medical foodstuff, logistics, and healthcare services. We wish them the utmost success in their expansion. If you're interested in learning more about them, contact them at: info@almufid.com.kw |
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| AmCham Kuwait hosted their quarterly event on ‘How to do Business with the U.S. Military’. The U.S. Military held presentations on the topic of registering in SAM and JCCS which gives vendors access to federal business opportunities and major tenders. The speakers also scope on topics such as upcoming opportunities - AFCAP and MATOC, registering in SPOT, and combatting human trafficking. Vendors had an opportunity to meet with the U.S. military entities during the B2G workshop in which vendors showcased their capabilities as well as learned about the different opportunities available within each military entity that was present. |
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| In a remarkable initiative, AmCham Kuwait joined forces with Zain Group and Cigna Healthcare to host a transformative workshop titled “A Mindful Workplace: Improving Employee Well-being & Retention”. The event went beyond shedding light on the challenges faced by employees encompassing a comprehensive discussion on the importance of holistic well-being programs and actionable steps to develop effective workplace wellness initiatives. |
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| Shell recently organized a session exploring the two energy scenarios - sky2050 and archipelagos. The event brought together Shell experts - Peter Wood-Shell Chief Energy Advisor and Geraldine Wessing- Chief Political Advisor and stakeholders to discuss sustainable energy options and strategies for reducing greenhouse gas emissions. The event included an interactive discussion where participants exchanged insights and had the opportunity to contribute their perspectives and expertise to the ongoing dialogue on energy security and sustainability. |
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| The Kuwaiti Lawyer’s Association hosted a seminar on e-commerce and its legal frameworks in Kuwait. The association invited AmCham Kuwait’s Vice-Chair and Founder of AmCham’s Corporate Member Learn & Evolve - Dr. Arezou Harraf to speak on the e-commerce landscape in Kuwait, along with several other speakers who tackled other scopes such as selling goods online, regulations, consumer protection, and legal implications. Show less
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| AmCham Kuwait, in collaboration with the International Labour Organization (ILO), hosted a workshop aimed at addressing the critical issues of forced labor and human trafficking within the business sectors. The workshop brought together key stakeholders from the public and private sectors to foster dialogue, educate and raise awareness on these issues. If you would like to receive more information and materials that can support you and your organizations on these issues, please email us at communications@amchamkuwait.org |
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| AmCham Kuwait participated in a workshop organized by Consulenza Global (in which GIG was a sponsor) on quality management, occupational safety, and risk management. The conference included a BRINKS Kuwait speaker, Mr. Joseph M. Kimeu (Health, Safety & Environment) who spoke on the socio-economic impact of untreated mental illness in the region, how it poses a major risk factor, and ways to address it. |
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| AmCham Kuwait Member News |
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| Al Ahli Bank of Kuwait launches ‘ABK Advantage Rewards’ Program |
| Al Ahli Bank of Kuwait (ABK) introduces ‘ABK Advantage Rewards’ program, an innovative and unique loyalty program designed to reward customers for conducting daily banking transactions.
Existing ABK customers will automatically be enrolled into the program and immerse themselves in a world of exclusive benefits. In addition to earning rewards on various banking products, all eligible ABK customers will have the opportunity to apply for ABK Advantage credit cards to unlock limitless rewards. |
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| Fostering Innovation and Empowering Students at American International University |
| AIU's School of Engineering and Computing recently held the Project Assessment Symposium for Biomaterials and Biomechanics, where students showcased their impressive work. This symposium, an integral part of their final grade, provided an opportunity for students to display their projects and receive individual evaluations from professionals. The event featured a diverse range of projects, including innovative topics like 'Re-Myelination of Nerves in MS Using A Hydrogel Based Approach' and 'Enhancing Hearing Aid Biomaterials and Circuits Through The Use of Nanotechnology.' The students' dedication and months of hard work were evident in the exceptional results achieved.Read more... |
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| AUK Hosts 18th Annual Career Growth Fair |
| AUK held its 18th Annual Career Growth Fair where employers from leading companies across Kuwait visit campus to discuss future employment opportunities with AUK students and alumni. This initiative is part of AUK's commitment to providing its community with opportunities to meet face-to-face with future employers to explore possible career options. The Career Growth Fair was organized by AUK's Office of Alumni Affairs and Career Development (AACD) and took place at the AUK gymnasium.Read more... |
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| Kuwait: Ministry of Health Restrictions on the Supply of Non-registered Medical Products |
| Kuwait’s Ministry of Health (“MOH”) issued Resolution No. 100 of 2023 in April 2023 (“Resolution 100/2023”). Resolution 100/2023 repeals a previous MOH resolution from 2022, which regulated the mechanism for importing non-registered medicines and pharmaceutical products. Further, it adds a new article to Resolution No. 361 of 2019. The new article allows for medicines used in the diagnosis, treatment, or prevention of diseases and registered with international supervisory authorities without any alternative replacements available, to be registered at the request of authorities at the Ministry of Health. This will be done in accordance with the requirements set out by the Department for the Registration and Control of Medical and Plant-Based Medicines at the Ministry of Health. Read more... |
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| Boeing Publicly Launches "Cascade" to Support Aviation's Net Zero Goal |
| SEATTLE, May 17, 2023 /PRNewswire/ -- In support of commercial aviation's path toward net zero carbon emissions, Boeing (NYSE: BA) today released the Boeing Cascade Climate Impact Model for public use. Cascade, a data modeling tool that identifies the effects of a range of sustainability solutions to reduce aviation's carbon emissions, is accessible on Boeing's new Sustainable Aerospace Together hub,www.sustainabilitytogether.aero. Read more... |
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| Cisco unveils new solution to rapidly detect advanced cyber threats and automate response |
| Dubai, United Arab Emirates – Cisco (NASDAQ: CSCO), the leader in enterprise networking and security, unveiled the latest progress towards its vision of the Cisco Security Cloud, a unified, AI-driven, cross-domain security platform. Cisco’s new XDR solution and the release of advanced features for Duo MFA will help organizations better protect the integrity of their entire IT ecosystem. - Cisco XDR prioritizes and remediates security incidents more efficiently using evidence-backed automation.
- To protect against multi-factor authentication (MFA) attacks, Cisco is now offering advanced features in all editions of Duo, the most secure, cost-effective, and user-friendly access management solution on the market. Read more...
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| Cigna launches 'The 5% Pledge’ to promote mental health |
| Cigna Healthcare MEA, a leading global health services company, has launched ‘The 5% Pledge’, a call for business leaders to dedicate 5% of their working hours to fostering mental health support in the workplace.
The campaign was launched at an in-person panel discussion titled ‘Unleash Your Organisation’s Potential: The Power of the 5% Mental Health Pledge.Read more... |
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| GAC in biofuels partnership as lifting begins at Ireland’s first clean fuels terminal |
| GAC Ireland and Green Biofuels Limited UK (GBF) have celebrated the debut lifting of biofuels from Ireland’s first clean fuels terminal. The company has been appointed to operate and maintain GBF’s Cork Terminal from March 2023. The first 39,000-litre lifting of Gd⁺ fuel, which is made from renewable feedstocks and dramatically reduces harmful emissions by up to 90%, was completed in April under the eagle eye of Kenneth Long, GAC Ireland’s Cork Terminal Manager. It was heading for Mullingar in central Ireland where it will be used for several applications. Read more... |
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| Honeywell introduces UOP eFining Technology for new class of sustainable aviation fuel |
| CHARLOTTE, N.C.-- Honeywell (NASDAQ: HON) today announced its innovative, new, UOP eFining™ technology, a ready-now solution for producing low-carbon sustainable aviation fuel (SAF). HIF Global, the world’s leading eFuels company, intends to deploy the new technology to produce eSAF at its second U.S. eFuels facility. Read more... |
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| Lockheed Martin wins $7.8bn contract for F-35 production and delivery |
| Lockheed Martin Corp.’s aeronautics division has been awarded a contract modification worth $7.8bn to produce and deliver 126 F-35 aircraft to various governments, including the US Air Force, US Navy, and international allies. The modification to a previously awarded advanced acquisition contract exercises options for producing and delivering Lot 17 F-35 aircraft. The agreement includes 81 F-35A aircraft, 26 F-35B aircraft, and 19 F-35C aircraft. The F-35 is a fifth-generation stealth fighter that combines advanced sensors and computer technology with a highly manoeuvrable airframe. It is designed to be a multi-role aircraft that can perform air-to-air and air-to-ground missions and provide intelligence, surveillance, and reconnaissance capabilities. |
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| L3Harris receives U.S. Marine Corps orders for Multi-Channel Radios |
| GPS’ next-generation wingman, Navigation Technology Satellite – 3 (NTS-3), is on track to launch later this year. The experimental satellite, designed, built and tested by L3Harris, will help shape the future of U.S. positioning, navigation and timing (PNT) capabilities and defeat the threat that contested, degraded and denied PNT poses to our national security.Read more... |
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| Mashreq appoints Mohamed Abdel Razek as Group Head of Technology, Transformation & Information |
| Mashreq, one of the leading financial institutions in the MENA region, is pleased to announce the appointment of Mohamed Abdel Razek as the Group Head of Technology, Transformation & Information. Read more... |
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| ‘Aim for digital society’; ‘Kuwait 2035 Vision’ goals targeted |
| Microsoft obtained approval to provide cloud computing services in Kuwait, which supports the country’s digital transformation agenda. Google Cloud has also formed a strategic alliance with the government to present a roadmap for digital transformation through government entities and major state-owned companies, in addition to investing in opening a modern cloud area in the country. Read more... |
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| Raytheon Technologies’ RAIVEN sensor suite sees the unseen using hyperspectral technology, LiDAR and AI |
| Raytheon Technologies has developed a groundbreaking system called RAIVEN to address these challenges. RAIVEN revolutionizes the way aircrews detect and identify threats, obstacles and targets in real-time. By combining artificial intelligence, electro-optical imaging, hyperspectral imaging and LiDAR, RAIVEN provides an unprecedented intelligent-sensing capability like never before.Read more... |
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| Viatris Named to USA Today's Inaugural List of America's Climate Leaders 2023 |
| PITTSBURGH, May 30, 2023 /PRNewswire/ -- Viatris Inc. (NASDAQ: VTRS), a global healthcare company, today announced that it has been named to USA Today's inaugural list of America's Climate Leaders 2023 for companies that have demonstrated the greatest reduction in emissions intensity. The list was compiled by USA Today and market research company Statista, the world-leading statistics portal and industry ranking provider. To be considered for America's Climate Leaders 2023, a company must be headquartered in the U.S. with revenues of at least $50 million in 2021. Additionally, businesses must have made significant progress in reducing greenhouse gas (GHG) emissions intensity in their own operations, referred to as Scope 1 and 2 emissions, and were transparent in reporting these emissions.Read more... |
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| Zain partnered with Arab Media Forum to promote media excellence |
| Kuwait - 31 May 2023: Zain, the Strategic Partner of the 18th Arab Media Forum, contributed to the event by hosting a number of unique programs throughout the two-day conference. The event came under the patronage of H.H. the Prime Minister Sheikh Ahmad Nawaf Al Ahmad Al Sabah and was attended by some of the Arab World’s top media personalities and executives.Read more... |
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| Arizona Commerce Authority Opportunities |
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| Arizona Commerce Authority - Opportunities and Tenders |
| NEW FEDERAL R&D FUNDING OPPORTUNITIES
DEPARTMENT OF DEFENSE High Operational Temperature Sensors DARPA is accepting applications to develop high-bandwidth, high-dynamic-range analog sensor microelectronics technologies that operate at high-temperature. The program will demonstrate a pressure sensor module consisting of an integrated transducer and signal-conditioning microelectronics. There are three key issues that applicants should seek to address: - Achieving both long lifetime and large bandwidth transistors at high temperatures;
- Achieving a high-sensitivity transducer at high temperatures; and
- Integrating a high operating temperature sensor without degrading performance.
Awards: Multiple awards are anticipated. Eligibility: Unrestricted. Deadline: 08/15/2023 Awards ID(s): HR001123S0036 Links:
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| KPC, Shell ink MoU to exchange expertise |
| May 14, 2023- Kuwait: Kuwait Petroleum Corporation and the international Shell energy company have signed a memo for exchanging know-how and expertise in various divisions of the fossil fuel sector. The KPC said in a statement on Saturday that the memorandum of understanding (MoU) was inked as part of the approach by the corporation and its subsidiary companies to benefit from top international companies in the oil and gas industries. The accord implies no financial liabilities, the statement said. The MoU was signed, last Wednesday, by the KPC Deputy Chairman and CEO Sheikh Nawaf Saud Al-Sabah and Shell CEO Wael Sawwan.Read more... |
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| Kuwait awards major contract to upgrade Sabiya Power Station |
| May 15, 2023 - Kuwait: Kuwait's Ministry of Electricity, Water & Renewable Energy has awarded a long-term contract to Mitsubishi Power to optimize the performance of the Sabiya power and water distillation station and boost its efficiency. Under the new contract, Mitsubishi Power will provide major plant upgrade services and cutting-edge technologies for the Sabiya Power and Water Distillation Station, the largest power and water provider in the country. These will extend the lifetime of the power and water station to up to 20 years to ensure efficient, safe, and reliable power generation in Kuwait.Read more... |
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| Central Bank of Kuwait issues new instructions regulating electronic payments of funds |
| May 16, 2023 - Kuwait: CBK said Tuesday, that these instructions outlined the mandatory requirements that must be met by existing and new financial firms
KUWAIT - The Central Bank of Kuwait (CBK) has issued an updated version of the Instructions for Regulating the Electronic Payment of Funds, first issued in 2018, a draft of the updated instructions was made public in early 2022 and a round of public consultations with stakeholders on the draft instructions followed.Read more... |
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| Kuwait announces plan to allow expat real estate investment: Report |
| 16 May, 2023 - Kuwait: The proposal will be discussed following the formation of the new Kuwait government, the report said
A Kuwaiti ministerial committee has submitted a proposal to the Cabinet to allow non-Kuwaitis to own investment residential properties, according to a report by the Kuwait Times.
The proposal aims to revitalize the economy and attract money to Kuwait by creating liquidity to free mortgages and “inject these amounts into the national economy.”Read more... |
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| Gulf railway project on track |
| May 16, 2023 - Riyadh/Kuwait: Gulf Cooperation Council Secretary General Jassem Al-Budaiwi said the GCC Secretariat and Gulf Railways Authority are commencing efforts to complete their works to link the railway project between GCC countries to showcase the new innovation in the region. The Secretariat General on Monday said the statement came during Budaiwi’s participation in the GCC Railway Conference in Abu Dhabi with the participation of a number of decision-makers, along with chiefs and CEOs of major rail operators from across the region.Read more... |
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| Google Cloud to open 3 data centers, train 3,000 people |
| May 25, 2023 - Kuwait: Three Google database and cloud service centers will be opened in different locations around Kuwait in support of the country’s digital transformation efforts, Google Cloud Kuwait announced. During Google Cloud’s media roundtable on Wednesday, the company also said a national training program will be launched to train 3,000 people from government organizations and higher education institutions in Kuwait on cloud computing. The program aims to train 1,000 government employees, 1,000 fresh graduates and 1,000 women in data analytics, machine learning, artificial intelligence and security solutions in the first year of its inception.Read more... |
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| Ban on working in open areas from June to August |
| May 25, 2023 - Kuwait: The Public Authority for Manpower (PAM) has announced that administrative decision No. 535/2015 to ban working in open areas during the noon hours from 11:00 am to 4:00 pm will come into force from the beginning of June to the end of next August, reports Aljarida daily.Read more... |
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| Government agencies facilitate paperwork, job hunting for people with disabilities |
| May 27, 2023 - Kuwait: Acting Social Affairs Undersecretary Adbelaziz Al-Mutairi issued a circular Thursday to designate employees to handle applications and process government paperwork submitted by disabled people. According to the circular, the decision is meant to remove obstacles to processing their transactions as soon as possible. Paperwork will be received at the office of the undersecretary to ensure it gets processed quickly, the circular said.Read more... |
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| Expat Workers To be Allowed Residency Transfers from Closed Companies |
| May 28, 2023-Kuwait: KUWAIT CITY, May 28: The Public Authority for Manpower is currently working on a plan to enable expatriate workers who are registered in companies and establishments whose files have been closed in recent times to transfer their residency to other companies. Read more... |
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| Kuwait relaunches tenders for Az-Zour North and Al-Khairan projects |
| May 29, 2023 - Kuwait: authorities have announced the cancellation of the tenders issued for Az-Zour North Phase 2 & 3 integrated water and power project (IWPP), Al-Khairan Phase 1 IWPP and the re-issuance of the qualifying companies to participate in a tender for the development, financing, design, procurement, engineering, construction, testing, commissioning, operation, maintenance and transfer of the projects.Read more... |
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| Kuwait Allows Travelers to Skip Fingerprinting on Departure |
| May 29, 2023- Kuwait: The Ministry of Interior stated that travelers are now exempted from taking fingerprints when leaving Kuwait, as long as the procedure is completed upon their return to Kuwait. This measure aims to facilitate the travel process for individuals. Read more... |
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| Kuwait & US reaffirm strategic relationship |
| May 13, 2023 -Official talks were held between Kuwaiti Foreign Minister Sheikh Salem Abdullah Al-Jaber Al-Sabah and US Secretary of State Antony Blinken in Washington late Thursday. At the onset of the meeting, Sheikh Salem conveyed greetings of His Highness the Amir Sheikh Nawaf Al-Ahmad Al- Jaber Al-Sabah and His Highness the Crown Prince Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah to US President Joe Biden and Vice-President Kamala Harris, wishing the US continued growth, prosperity and progress.Read more... |
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| Our relationship with Kuwait, its people is exceptional |
| May 28, 2023-Kuwait: KUWAIT CITY, May 28: Chargé d’Affaires at the US Embassy in Kuwait, James Holtsnider said the US army has lost more than 7,000 soldiers since the events of September 11, 2001, in various regions such as Iraq, Afghanistan, and other areas, reports Al-Anba daily. “It is a great honor to be here today,” he said, “to join my partners in Kuwait and my fellow military and diplomats from a number of coalition countries working with us here in the region, to honor those who lost their lives serving their country.Read more... |
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| U.S. Department of Education Shares Insights and Recommendations for Artificial Intelligence |
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| USDA, DHS Cut Ribbon on National Bio and Agro-Defense Facility |
| May 24, 2023 - U.S. Department of Agriculture (USDA) and the Department of Homeland Security (DHS) Science and Technology Directorate (S&T) officials celebrated the dedication and ribbon-cutting of the National Bio and Agro-Defense Facility (NBAF). This facility, which offers the highest level of biocontainment laboratories and safety protocols, is the first of its kind in the United States and will allow scientists to study and diagnose critical animal diseases. Read more... |
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| Kuwait’s ambassador to US stresses lasting bond between two countries |
| May 26, 2023 -Kuwait’s Ambassador to the US Sheikha Al-Zain Al-Sabah stressed on Monday the “lasting bond of friendship and loyalty” between Kuwait and the US as the nation marks National Memorial Day. “It is a pleasure to be given the opportunity to represent my country, the State of Kuwait, in a ceremony to honor the sacrifices of the United States armed forces,” Sheikha Al-Zain said in remarks at the National Memorial Day Parade.Read more... |
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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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