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Kuwait names Al-Ghunaiman to head $700bn wealth fund

Al-Ghunaiman replaces Farouk Bastaki, who helped to propel the Kuwait Investment Authority to rank among the world’s biggest wealth funds

Kuwait posts record $36bn deficit on oil price drop, virus

Salaries and subsidies in the 2020-21 fiscal year accounted for 73 per cent of spending

Kuwait names new wealth fund board after three-month delay

The board always includes the finance and oil ministers, as well as the central bank governor and finance ministry undersecretary

Islamic Development Bank, Bloomberg LP launch financial education programme across 9 countries

Participating universities will be announced over the coming months

Kuwait: Fully vaccinated expats can return from Aug 1, need to undergo home quarantine

Kuwait residents with valid iqamas can return to the country provided they have received one of four approved vaccines

Kuwait removes most Covid-19 restrictions, resumes all commercial activities

Large gatherings continue to be banned, and those not vaccinated will have restricted entry in certain areas

Kuwait credit rating cut for second time in two years by S&P

The sovereign credit rating was cut one level to A+ from AA-

Kuwait opens first permanent LNG facility as it looks to boost gas imports

The Al Zour LNG terminal received its first cargo of gas, from Qatar, on Monday

Disney opens Middle East’s first shop-in-shops in UAE, Kuwait

An additional 26 locations are set to open across the region over the next four weeks

Kuwait to shut all clubs offering activities for children from July 25

The clubs have been closed as a precautionary measure to curb the spread of Covid-19

World’s oldest wealth fund swells to record and cracks the top 3

The Future Generations Fund, managed by Kuwait Investment Authority, has risen to a record of about $700bn

Kuwait to resume direct flights to 12 destinations, opens land and sea borders for vaccinated citizens

Flights to several European destinations as well as the US will resume from July 1

Only vaccinated individuals now allowed to enter malls, restaurants, gyms and salons in Kuwait

A person will need to show their vaccination status on the My Identity or Immunity mobile application

Kuwait’s $134bn pension fund has record gain in turnaround

The $134bn pension fund recorded 20.9 per cent growth in assets in the year ended March 31

Kuwait resumes flights to the UK following suspension in Jan

Kuwait Airways, Jazeera Airways and British Airways have been licenced to operate direct flights to and from London Heathrow airport

Kuwait

Kuwait hasn’t renewed wealth fund’s board since term expired

Its board is appointed by royal decree for a four-year term and members can be reappointed

Kuwait city

Covid-19: Indian variant detected in Kuwait – health ministry

No details were revealed about how many cases were detected and whether they were found among citizens or expats

Virgin Mobile Middle East and Africa

Virgin Mobile Middle East and Africa to eliminate single-use plastics in SIMs and recharge cards

It is aiming for its operations to become carbon neutral by the end of 2021

Expats in Kuwait must have a monthly salary of over $8,300 to hire Filipino domestic workers – report

Kuwaiti nationals are not included in the new salary requirement clause

Kuwait issues new regulations for jewellery stores

Price tags must include the company’s name, serial number (barcode), carat, weight and type of the piece

Lebanon Foreign Affairs Minister Charbel Wehbe

UAE, Saudi, Bahrain, Kuwait condemn Lebanese foreign minister’s comments on ISIS

Several GCC states summoned the Lebanese ambassador to their respective countries to protest the statements

Covid-19: Kuwait ends quarantine for vaccinated travellers, eases some restrictions

Restaurants and cafes can offer dine-in services starting from Sunday, May 23

Kuwait

Kuwait to lift partial curfew for Eid; indefinitely bars entry from four countries

Kuwait’s DGCA has suspended direct commercial flights from Nepal, Pakistan, Bangladesh and Sri Lanka

Google startup accelerator

Google opens registrations to MENA tech startups for accelerator programme

The three-month long programme will commence in mid-July 2021 and is for ‘Seed to Series’ startups in the region

Vox Cinemas to reopen The Avenues multiplex in Kuwait this month at 50% capacity

Moviegoers will have to be vaccinated and registered on Kuwait’s Immune App to be able to enter the cinema

Kuwait’s health ministry to notify availability for second dose of Oxford/AstraZeneca vaccine

The ministry said it had not taken a decision to change the type of vaccine in the second shot

Covid-19: Kuwait to impose travel ban on unvaccinated citizens as of May 22

On May 3, Kuwait reported 1,246 new Covid-19 cases and 12 related deaths over the preceding 24 hours

Kuwait Airways

Kuwait indefinitely suspends passenger flights from India

All passengers arriving from India either directly or via another country will be banned from entering unless they have spent at least 14 days outside of India

Virgin Mobile Middle East and Africa to launch operations in Kuwait

The company will launch its fully digital app-based proposition in Kuwait under the Virgin Mobile brand

KUWAIT-HEALTH-VIRUS

Kuwait curfew extended until end of Ramadan, cinemas prepare to open for Eid

The partial curfew will continue to be in place from 7pm until 5am