If your company is interested in being an event sponsor or a raffle prize sponsor for upcoming events such as the Annual Golf Tournament event, please contact us at communications@amchamkuwait.org, and we will provide you with more information about sponsorship opportunities. |
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November 16, Beach Clean Up |
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| AmCham Kuwait would like to thank Vala for inviting us to their product launch, which was done in partnership with KOTRA. We wish them the utmost success! |
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| AmCham Kuwait had the pleasure to visit FSHN to discuss their upcoming charity run which aims to raise funds for children with disabilities who cannot afford certain medical treatments and seek other ways to collaborate. We encourage you to join the run on the 11th of November starting at 8 AM. Stay tuned for more details! |
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| Exploring Boundless Opportunities: AmCham Kuwait and KISR Forge Pathways to Collaboration: mCham Kuwait and KISR (Kuwait Institute for Scientific Research) come together to explore exciting opportunities for collaboration. AmCham Kuwait connects American businesses with Kuwait, while KISR leads in scientific research and innovation. Their partnership aims to drive progress, shared values, and a brighter future through collaboration. |
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| ABCK - AmCham Kuwait held its Back to Business Annual General Meeting event at the Grand Hyatt Hotel – Kuwait with over 100 AmCham members and non-members in attendance, all of whom had an interest in learning about AmCham Kuwait’s overview since the beginning of the year, as they highlighted its new disabilities focus group. The event was done with the event’s hotel partner the Grand Hyatt Hotel - Kuwait, and travel and tourism partner IFA- International Travel & Tourism. |
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| AmCham Kuwait was a supporter of the 2023 U.S.-Bahrain and U.S.-Kuwait Healthcare Partnership Forum, hosted by the National Center for Healthcare Leadership and the U.S. Embassy. The event, themed "Pioneering Innovation and Advancing Healthcare Synergies between Nations," brought together industry leaders, experts, and visionaries from the United States, Bahrain, and Kuwait to foster collaborative excellence and chart a path toward enhanced healthcare solutions and cross-border cooperation. The two-day forum provided a platform for high-level dialogue and exploration of opportunities for collaboration between U.S. hospitals and prospective partners in both the Bahrain and Kuwait public and private healthcare sectors. We thank the NCHL for giving us the chance to support this event, and we look forward to upcoming success stories from this delegation |
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| AmCham Kuwait held the Food Export Roundtable Meeting. This roundtable gathering brought together key players from the food industry, passionate entrepreneurs, and experts who are dedicated to elevating Kuwait's position on the global culinary map. We explored trends, shared insights, and discussed the boundless potential of Kuwaiti food exports. As we continue to champion Kuwait's vibrant food industry, we are excited about the incredible opportunities that lie ahead. Together, we'll take the essence of Kuwaiti flavors to the world. |
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| AmCham Kuwait Member News |
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| Al Ahli Bank of Kuwait (ABK) announced the successful completion of its capital increase by offering 500 million shares valued at KD 100 million. The demand exceeded the targeted value by 331% to reach KD 331.37 million.
Following the completion of the capital increase, the Bank’s paid-up capital increased by 26.7% to reach KD 237.4 million. ABK will utilize the proceeds to strengthen its capital base, aligning with its strategy to further develop and grow its operations.
The subscription period spanned from Sunday, 27 August 2023 to Sunday, 10 September 2023, and managed by Kamco Invest as the Lead Manager and Subscription Agent along with ABK Capital as the Joint Lead Manager and Subscription Agent. The subscription was conducted entirely through Kuwait Clearing Company's online platform. |
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| The American International University campus is a bustling hub of activity, where students embark on their academic journeys, faculty members guide them, and visitors seek to explore the institution's offerings. A well-organized Visitor Center plays a crucial role in creating a seamless and welcoming experience for all. The AIU Visitor Center offers an array of services as mentioned below. |
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| AUK hosted graduate intern Jessica Kelly, a student from the University of Buffalo, SUNY, USA. Jessica joined AUK this summer as part of the Graduate Internship program offered by Alumni Affairs and Career Development (AACD).
Jessica earned her BA in Psychology and is currently pursuing her MED in Higher Education Administration and Student Affairs from the University of Buffalo, SUNY. As part of her internship, Jessica was placed in both the Academic Advising Center and the Office of Student Life.
Reflecting upon her time at AUK, Jessica shares, “The overall AUK internship experience provided me with valuable insights into the significance of cultural understanding in the workplace. I learned the importance of taking initiative and stepping out of my comfort zone to grow both personally and professionally. The internship also taught me the value of continuous learning to thrive in a professional environment.” |
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| ARLINGTON, Va., Sept. 11, 2023 — Boeing [NYSE: BA] will develop and test technologies for a hypersonic interceptor prototype for DARPA’s Glide Breaker program as part of a four-year effort. Boeing will perform computational fluid dynamics analysis, wind tunnel testing and evaluation of aerodynamic jet interaction effects during flight tests.
“Hypersonic vehicles are among the most dangerous and rapidly evolving threats facing national security,” said Gil Griffin, executive director of Boeing Phantom Works Advanced Weapons. “We’re focusing on the technological understanding needed to further develop our nation’s counter-hypersonic capabilities and defend from future threats.” |
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| Sept 21 (Reuters) - Cisco Systems (CSCO.O) on Thursday agreed to buy cybersecurity firm Splunk (SPLK.O) for about $28 billion in its biggest-ever deal to strengthen its software business and capitalize on the boom in artificial intelligence. The deal, which is the biggest technology transaction of the year, will help reduce Cisco's reliance on its massive networking equipment business, which has suffered in recent years from supply chain issues and a post-pandemic slowdown in demand.
"The thing that gives you conviction is we are bringing together two companies around security and observability, which are two of the most important areas for our customers and areas where they are unlikely to cut spending in - just because of the criticality of these threats," Cisco CEO Chuck Robbins told Reuters in an interview.
Under Robbins, Cisco has over the years attempted to reduce its traditional reliance on hardware and doubled down on its bets in software and services through deals. |
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| Volunteers from MEGlobal, an EQUATE Group company, dedicated a day to the 2023 STEM Dream Summer Camp, inspiring up-and-coming STEM leaders in engaging, fun educational activities in math and robotics, with the camp boasting over 400 enthusiastic attendees this year.
أمضى متطوعو إم إي جلوبال، إحدى شركات مجموعة إيكويت، يوماً مع أطفال الجيل القادم من قادة العلوم والتكنولوجيا والهندسة والرياضيات للقيام بأنشطة تعليمية ممتعة في الرياضيات والروبوتات في مخيم حلم العلوم والتكنولوجيا الصيفي 2023 الذي حضره أكثر من 400 شخص هذا العام. |
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| CHARLOTTE, N.C., September 11, 2023 -- Global electric vehicle (EV) sales have been surging, with 10 million sold in 2022 and 35% predicted growth by the end of this year.[1] Rising EV adoption and increased lithium-ion (li-ion) battery production raise safety concerns. Li-ion batteries that power EVs can lead to dangerous "thermal runaway" incidents causing intense and prolonged electrical fires. Workers assembling batteries face risks like hand injuries, exposure to chemical hazards, and potential electrocution. A focus on safety is crucial in this EV boom.
To address safety concerns across the spectrum of people involved in EV manufacturing, transport and use—from drivers to EV plant workers to first responders and others—Honeywell (Nasdaq: HON) has created a number of ready-now solutions to not only protect individuals and assets, but also to help detect the risk of battery fires sooner. |
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| A sample return capsule carrying specimens from the carbon-rich asteroid Bennu has landed on Earth.
The capsule, released by the OSIRIS-REx spacecraft from space, was recovered at the Department of Defense-owned Utah Test and Training Range, seven years after it left the Cape Canaveral Space Force Station, Lockheed announced Sunday.
The OSIRIS-REx mission, built and operated by Lockheed Martin for NASA, was launched to extract samples of asteroids that could provide clues to planet formation and the origin of the Earth. It arrived at Bennu in December 2018 to conduct a two-year survey and collection of elements using Lockheed’s Touch and Go Sample Acquisition Mechanism device. |
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| Mashreq partners with the Science Based Targets initiative (SBTi) to set ambitious science-based Net-Zero targets and achieve Net-Zero by 2050.
By joining forces with SBTi, Mashreq reaffirms its continued efforts to address climate change, advance its sustainability journey, and promote a sustainable future in alignment with the UAE’s 2023 Year of Sustainability vision and Net-Zero by 2050. |
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| EL SEGUNDO, Calif., Sept. 12, 2023 /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, delivered the first B-52 active electronically scanned array radar (AESA) to Boeing for the U.S. Air Force's B-52 Radar Modernization Program. This first radar will be used for system integration, verification, and testing.
"Outfitting the B-52 with an AESA radar replaces its current 1960s radar technology," says Michelle Styczynski, vice president of Agile Radar Solutions at Raytheon. "With an AESA radar on board, the B-52 will gain improved navigation and targeting capabilities in higher threat areas."
The B-52's new radar will enable improved mapping and detection range and increase the number of targets the platform can engage simultaneously. Along with improved modes and capabilities, the AESA radar will help crews see further, and more accurately and have increased situational awareness. |
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Tarraf Foundation signed an Agreement (MOU) with Saint Joseph University in Beirut (USJ) to provide the educational scholarships to the Lebanese students.
The signing was attended by the President of the University, Dean Professor Salim Dakkash, the University Rector Ms. Cynthia Gabriel, the Managing Director of Tarraf Foundation Dr. Rana Jammal, and a member of the Board of Trustees in Tarraf Foundation Mr. Hadi Hammoud.
The Professor Dakkash thanked Tarraf Foundation for its patriotic sense and interest in the Lebanese education sector and their support for the Lebanese students, who represent Lebanon's capital.
وقّعت جمعية طراف الخيرية إتفاقية تفاهم (MOU) مع جامعة القديس يوسف (USJ) في بيروت بهدف تقديم منح دراسية للطّلاب لمساعدتهم في إكمال مسيرتهم التعليمية. حَضر التوقيع كل من رئيس الجامعة الأب البروفيسور سليم دكّاش، مديرة المنح في الجامعة السيدة سينتيا غوبريل، المديرة التنفيذية لجمعية طراف د.رنا الجمال وعضو مجلس أمناء الجمعية السيد هادي حمود. شَكر البروفيسور دكّاش جمعية طرّاف على حِسّها الوطني وإهتمامها بالإنسان المتعلّم الكفوء الذي يمثّل رأسمال لبنان |
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| Zain holds training camp in collaboration with a training center in Kuwait at the Zain Innovation Center (ZINC), hosting 40 promising entrepreneurs with the aim of developing their projects. A total of five of the entrepreneurs were selected to present their ideas to a group of investors.
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| Arizona Commerce Authority Opportunities |
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NEW FUNDING OPPORTUNITIES FOR TBED
DEPARTMENT OF HEALTH AND HUMAN SERVICES
Chimeric Antigen Receptor Approaches to AD/ADRD
The National Institute on Aging is accepting applications to provide a proof-of-principle for a novel strategy for Alzheimer's disease (AD) and AD-related dementias (ADRD) immunotherapies. Specifically, the goal is to examine whether a novel immunotherapeutic approach in cancer immunotherapy with chimeric antigen receptor (CAR) immune cells can be customized as treatments for AD/ADRD. There are two phases to this opportunity. Applicants are required to submit a milestone plan for the R61 phase; these milestones must be successfully completed before the R33 phase commences. Awards: 8-10 awards are expected. The total funding pool is $5 million. Eligibility: Unrestricted. Deadline: 02/07/2024 Awards ID(s): RFA-AG-24-046 Links:
Mechanisms that Impact Cancer Risk with Use of Incretin Mimetics The National Institutes of Health is accepting applications for investigator-initiated studies addressing mechanisms by which incretin mimetics, specifically glucagon-like peptide (GLP)-1 or dual GLP-1/glucose-dependent insulinotropic polypeptide (GIP)-1 receptor agonists (RAs), impact cancer risk. There are two opportunities available: - Those interested in applying for an R01 grant can find more information at the link ending in PAR-23-279.html. This opportunity is for well-developed projects with preliminary data. Multiple awards are expected. Applications are due February 5.
- Applicants seeking funding for pilot/exploratory grants should apply to award ID PAR-23-280. Application budget direct costs are limited to $275,000 over a two-year period. Applications are due February 16.
Eligibility: Unrestricted. Awards ID(s): PAR-23-279, PAR-23-280 Links: |
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| U.S. / Kuwait Business News |
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| KUWAIT CITY, Sept 18: Chargé d’Affaires of the US Embassy in Kuwait James Holtsnider revealed that his country is excited to welcome the Kuwaiti delegation to attend the United Nations General Assembly in New York this month, discussing an upcoming official meeting with Kuwait on the sidelines of the UN Assembly. Commenting on the US-Kuwait Strategic Dialogue during a roundtable with local media, he said the regular meetings between the two countries represent a significant opportunity to strengthen diplomatic connections, engage in discussions spanning various topics and work together towards common goals. |
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| KUWAIT CITY, Sept 25: The Chargé d’Affaires of the US Embassy in Kuwait James Holtsnider affirmed that his country stands “distinctly” with the Security Council resolution No. 833 and with Kuwait’s sovereignty and territorial integrity. In a press statement issued during his participation in an event held at the Saudi Embassy recently on the occasion of the 93rd National Day of Saudi Arabia, Holtsnider highlighted the meeting that brought together the Saudi Foreign Minister Sheikh Salem Al-Abdullah and the US Secretary of State Anthony Blinken, on the sidelines of the recent meetings of the United Nations General Assembly in New York. |
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| KUWAIT CITY, Sept 4: The Ministry of Electricity, Water and Renewable Energy spent KD 151.5 million on developing, modernizing and maintaining the electricity network during the last fiscal year, reports Al-Seyassah daily.
According to informed sources in the ministry, the amounts were spent on installing main transmission stations, secondary distribution stations, and ground cables through new and ongoing contracts concluded by the ministry with a number of specialized international companies, with the aim of raising the network’s carrying capacity, extending the electrical current to new areas, and making it ready to bear the burdens, especially during the summer. |
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| KUWAIT CITY, Sept 6: Kuwait’s oil sector achieved “exceptional” profits of KD 2.6 billion (USD 8.4 billion) for the fiscal year 2022/2023. The remarks were made by Kuwait Petroleum Corporation (KPC) CEO Sheikh Nawaf Saud Al-Sabah in a speech on Wednesday, during the annual meeting of senior oil sector officials, organized by the Petrochemical Industries Company.
KPC is following international standards in the field in training and preparing young employees to develop their skills, he said. Meanwhile, the CEO said that one of the prominent achievements of the oil sector is fully operating Al-Zour Refinery, producing 615,000 barrels a day, which is one of the biggest refineries in the world. |
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| KUWAIT, Sept 10: The Healthy Cities office at the Ministry of Health in Kuwait is leading a pivotal campaign to address patient safety and environmental concerns by facilitating the safe disposal of unwanted medication within the community in Kuwait. This initiative is in commemoration of World Patient Safety Day, which began on Sept 10 and is scheduled to run until Sept 21. The campaign has received support from various organizations, including the WHO Kuwait country office, the drug inspection administration, the safety department at the quality accreditation directorate, the central directorate of primary healthcare and the services administration within the Ministry of health, Environment Public Authority, Dhahiyat Abdullah Al-Salem Healthy City, Patients Helping Fund Society and the College of Pharmacy at Kuwait University. “We affirm our commitment to ensuring patient safety and preserving the environment in Kuwait. |
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| KUWAIT CITY, Sept 17: Aiming to create more job opportunities and enhance competitiveness in the telecom sector under Kuwait Vision 2035, the country is planning to expand its fiber optic services, according to an official statement issued by the Ministry of Communications. The ministry said that it is coordinating with the Kuwait Authority for Partnership Projects, known as KAPP, on selecting a strategic partner through KAPP’s open competition for competent and qualified international and regional companies. |
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| KUWAIT CITY, Sept 18: Kuwait awarded 91 oil projects with a total value of around 985 million Kuwaiti dinars ($3.25 billion) in the first eight months of 2023, a newspaper reported on Monday.
The contracts awarded by the state-owned Kuwait Oil Company (KOC) covered projects related to oilfield development with the aim of boosting the country’s crude and gas output capacity, the Arabic language daily Alanba said, quoting a KOC report.
“The value of the projects awarded in the first eight months of this year is the largest in many years and comes after a sharp decline in the past three years,” the report said.
It showed January was the busiest month in terms of oil projects, with 26 contracts awarded with a combined value of around KWD379.7 million ($1.25 billion), more than a third of the total project value during that period. |
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| KUWAIT, Sept 24: Kuwait Integrated Petroleum Industries Company (KIPIC) on Monday announced the achievement of 60 million safe working hours without any accidents, loss of life, physical injuries, health or environmental damage, property damage, or interruption in operations at the Al-Zour refinery.
The official spokesman, Abdullah Al-Ajmi, said in a press statement that the achievement of this “extraordinary achievement” comes as a result of strict adherence to the highest health, safety, and environmental standards, in addition to continuous efforts and commitment to provide a safe and more productive work environment. |
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| KUWAIT, Sept 24: The Secretary-General of the Supreme Council for Planning and Development, Dr. Khaled Mahdi, affirmed that Kuwait’s public policies emulate the world’s trend of using renewable energy in line with the cooperation of concerned parties.
This came in a speech by Dr. Mahdi during an event held by the European Union delegation to Kuwait, Tuesday, in cooperation with the General Secretariat of the Supreme Council for Planning and Development and the International Labor Organization office in Kuwait.
Mahdi added that the aim of the event is to discuss the importance of a just transition and address the economic and social impacts resulting from the phenomenon of climate change by also focusing on raising the level of awareness among the public. |
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| KUWAIT CITY, Sept 25:Kuwait has announced its 2040 masterplan, as it looks to lay out a vision for urban, economic, social, and environmental policies in the country. The Fourth Kuwait Master Plan 2040, was approved by the cabinet in its weekly meeting and identifies development goals for the coming years, said a government minister. Minister of State for Municipal Affairs and Minister of State for Communication Affairs Fahad Al-Shuala revealed that the masterplan would focus on the use of land for private housing, investments as well as commercial and industrial purposes. |
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| KUWAIT CITY, Sept 27: During August of last year, Kuwait experienced a 3.6 percent decrease in cash circulation, representing local liquidity. The total cash in circulation dropped from 2.02 billion dinars in July to 1.947 billion dinars in August, amounting to a reduction of 74 million dinars.
This decline continued from the start of 2023, with a 2.6 percent decrease, equating to approximately 52.1 million dinars, compared to the 1.999 billion dinars reported in December of the previous year. Additionally, there was an annual decrease of 1.6 percent, amounting to 31.9 million dinars, down from 1.979 billion dinars at the end of August 2022. |
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| KUWAIT CITY, Sept 30: The Acting Director General of the Directorate General for Civil Aviation (DGCA) Emad Al-Jalawi affirmed that the airport witnessed an increase in the number of passengers this year compared to last year, indicating that an operational plan has been prepared based on the operational density of airlines and the increasing number of passengers, reports Al-Qabas daily.
He said, “Despite some of the negatives that occurred during the summer period such as delays in some flights and the expiry of some contracts concluded with companies implementing some logistical work, we were able to address many of these problems within a short period. We addressed some airline companies, and also the regulatory authorities to renew and offer some contracts for the airport.” |
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| US, Sept 20 (Reuters) - U.S. employers are bracing for the largest increase in health insurance costs in a decade next year, according forecasts from healthcare consultants, but workers may be somewhat spared this time around in a tight labor market. Benefit consultants from Mercer, Aon (AON.N) and Willis Towers Watson (WTW.O) see employer healthcare costs jumping 5.4% to 8.5% in 2024 due to medical inflation, soaring demand for costly weight-loss drugs and wider availability of high-priced gene therapies. |
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WASHINGTON, D.C. Sep 21 — As part of President Biden’s Investing in America agenda, a key pillar of Bidenomics, the U.S. Department of Energy (DOE) today announced $72 million for three sets of projects that will innovate manufacturing processes for wind and water technologies and accelerate the equitable and sustainable deployment of offshore and land-based wind energy. This funding includes $27 million from the Bipartisan Infrastructure Law for 15 projects to support research, development, and community engagement to accelerate the equitable and sustainable deployment of offshore and land-based wind energy; $45 million will go to 14 projects that will both make domestic manufacturing for these technologies quicker and less expensive. Together, these investments will streamline the processes to create the tools that will produce wind and hydropower, reduce barriers for communities deploying offshore and distributed wind energy technologies, and reduce impacts to wildlife. Wind and water power are poised to play an important role in the Biden-Harris Administration’s broader efforts to deploy 30 gigawatts of offshore wind energy by 2030 and achieve a net-zero carbon economy by 2050. |
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| WASHINGTON, Sept 21 – Agriculture Secretary Tom Vilsack today announced the United States is investing $455 million to strengthen global food security and international capacity-building efforts. The investment will utilize more than 375,000 metric tons of U.S. commodities. The commodities in the Food for Progress program will be sold in local and regional markets and proceeds will help strengthen short- and long-term food security through development of agricultural value chains and trade-promoting activities. Prior to investing in a project, USDA conducts numerous analyses to ensure that local production and markets will not be impacted, and U.S. commercial interests will not be affected. The commodities in the McGovern-Dole program will go directly to hungry school children to help address hunger and promote education. |
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| US, Sept 21: A coalition of 25 state governors announced a major push to reach 20 million deployed heat pumps by 2030, they said in New York City on Thursday. That would represent a quadrupling of the number of heat pumps installed in 2020.
Heat pumps are energy efficient replacements for furnaces and air conditioners. They use electricity to transfer heat, as opposed to generate heat, and they can either heat a building when it is cold outside or cool a building when it is hot outside.
Compared to a gas boiler, heat pumps reduce greenhouse gas emissions by 20% when operating on emissions-intensive electricity and as much as 80% compared when operating on cleaner electricity, according to the International Energy Agency. |
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| WASHINGTON, Sept. 26, 2023 – The U.S. Department of Agriculture today announced that it is giving an estimated 3,000 more school districts in high-need areas the option to serve breakfast and lunch to all students at no cost, by expanding the availability of the Community Eligibility Provision, commonly known as CEP. “Today’s announcement comes as we approach the one-year anniversary of the historic White House Conference on Hunger, Nutrition, and Health, where the Biden-Harris Administration promised to advance a pathway to healthy school meals for all students,” said Agriculture Secretary Tom Vilsack. “USDA has taken an important step toward fulfilling that promise by expanding access to CEP. Increasing access to free, healthy school breakfast and lunch will decrease childhood hunger, improve child health and student readiness, and put our nation on the path to better nutrition and wellness.” |
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WASHINGTON, Sept 29 – Today, the White House and U.S. Department of the Treasury (Treasury Department) released a playbook identifying key evidence-based workforce development strategies that state and local governments—leveraging support from the American Rescue Plan’s State and Local Fiscal Recovery Fund (SLFRF) program—are using to strengthen their workforces, grow their economies, and address barriers for underserved workers. The playbook highlights nine successful state and local case studies, ranging from creating union registered apprenticeships for underserved workers in Harris County, Texas; to training 2,500 new licensed nurses in Oklahoma; to providing childcare scholarships for airport workers in Phoenix. These proven workforce strategies—expanding registered apprenticeship programs, investing in community colleges, and providing supportive services—are developing the skilled, diverse workforce state and local governments can use to connect workers with good-paying jobs from the Investing in America agenda. |
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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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