Luxury Turkish products now less expensive
KUWAIT CITY, Aug 16: An unprecedented turnout of Kuwaitis – both individuals and traders – who thronged the exchange markets to benefit from the sharp drop in the value of Turkish lira was witnessed on Wednesday, Aug 15, reports Al-Nahar daily.
The decline in the value of Turkish lira has invoked interests for travel, tourism and import of various types of Turkish products especially luxury products which have now become less expensive. A number of money changers said they are expecting the value to reach record levels of up to KD 90 per 1,000 lira from the pre-crisis value of KD 85 per 1,000 lira.
They highlighted the measures taken by the Turkish government which recently managed to mobilize a large turnout for the purchase of lira to the extent that the trading price reached the ceiling of KD 61 per 1,000 lira up from the lowest price on the trading screens at KD 43 per 1,000 lira. On the other hand, some bankers said what happened in Turkey is the beginning of a crisis and not the end.
However, others feel the impact would be great for the assets relying on lira, indicating that there are large Gulf exposures to Turkey because of the huge investments there and showed the dollar assets will be the least harmful.
Meanwhile, Turkish statistics reveal Kuwaitis are in fifth place after Iraqis, Iranians, Saudis and Russians in terms of foreigners buying real estate in Turkey in July. According to the data issued by the Turkish Statistics Agency, Kuwaitis bought 171 properties in Turkey last July. Iraqis topped the list with the purchase of 584 properties followed by Iranians in second place with 321 properties, Saudis 211 and Russians 173.
MANAMA, Aug 8, (KUNA): A pair of Kuwaiti ministers said on Wednesday that the first flight that took off from Kuwait International Airport’s newlybuilt Terminal 4 (T4), which landed in neighboring Bahrain, was a profound accomplishment. “This milestone event will help propel the local aviation industry to new heights,” Minister of Finance Dr. Nayef Al-Hajraf said in a statement, pointing out that the new terminal will provide nationals with new job opportunities.
The minister expected a spike of up to 10 percent in passenger traffic at the airport with the completion of T4. The terminal, which solely serves the national carrier Kuwait Airways, will allow the airline to revamp its itinerary, Minister for Housing and Services Jenan Boushehri said.
T4’s inaugural flight took to the skies earlier on Wednesday with much fanfare to land in the Bahraini capital Manama, with a phalanx of senior officials and local journalists onboard.
Kuwait Airways, the first airline to take off from the new Terminal 4 (T4) at Kuwait International Airport, arrived at Bahrain International Airport Wednesday.
Kuwait Airways Board Chairman Youssef Al-Jassem said, in a statement to KUNA, said that starting from August 15, four commercial flights will be operated.
The ‘Blue Bird’ will have its own building, with the hope to increase total number of regular daily flights to 92, he added. Through the T4, 25 of the latest models will takeoff and 4.6 million passengers by the end of this year will be flying, with an estimated increase of half-a-million passengers each year. Al-Jassem added that 33,600 regular flights each year would connect 43 cities In 26 countries.
The T4 and T5 buildings contribute in reducing pressure on the main airport by 60 percent, he said. Al-Jassem expressed gratitude to the Kingdom of Bahrain for its great interest and hospitality of this commissioned trip.
The delegation onboard the flight included , Minister of Finance Dr. Nayef Al-Hajraf and Minister of State for Housing Affairs and Minister of State for Services’ Affairs Jenan Boushehri, KUNA Editor-in-Chief for Editorial Affairs Saad Al-Ali and a host of local press people.
Bahrain’s Minister of Finance Sheikh Ahmad Bin Mohammed, Minister of Communications Kamal Bin Ahmed and Kuwait’s Ambassador to the Kingdom of Bahrain, Sheikh Azzam Al-Sabah, were among the recipients.
The T4 was inaugurated on July 4 under the patronage of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah as part of His Highness’ vision to turn Kuwait into a commercial and financial center in the region.
Meanwhile, Bahrain’s prime minister on Wednesday heaped praise on His Highness the Kuwaiti Amir Sheikh Sabah Al- Ahmad Al-Jaber Al-Sabah as a leader whose accomplishments are immeasurable, on the same day where a new Kuwaiti airport terminal launched its inaugural flight.
Bahrain is honored to have been the destination for the first flight to take off from Kuwait International Airport’s new Terminal 4 (T4), Prince Khalifa bin Salman told a delegation of Kuwaiti officials and journalists, all of whom were onboard the maiden flight.
Source: Arab Times
KUWAIT CITY, Aug 9: General Department of Public Relations and Security Media at Ministry of Interior disclosed that the military training program titled “Guard who cannot be defeated” kicked off on Thursday, Aug 9, and will continue for ten days, reports Al-Seyassah daily.
The department explained that officers from Ministry of Interior, Ministry of Defense and the National Guard are participating in the training along with 400 soldiers of the American Army. The training program involves scenarios that facilitate joint response for confronting overseas terrorist attacks.
It is aimed at exchanging experiences among the security and military institutions of Kuwait and friendly countries, and at creating a united and integrated strategic security system that enhances the capability and readiness of the participating bodies. It includes tactical trainings as well as implementation of attack and defense plans.
Meanwhile, the American Embassy in Kuwait revealed in a press statement that 400 American soldiers will join the Kuwaiti forces for participating in the training program, which is based on coordination between the United States General Command and other American bodies and Kuwaiti government. The embassy affirmed that the training program will be carried out in specific remote sites located throughout Kuwait with limited participation of the headquarters of MacDill Air Force Base in Tampa, Florida.
By Jaber Al-Hamoud
Al-Seyassah Staff and Agencies
Source: Arab Times
KUWAIT CITY, Aug 9: Assistant Director for Projects at Kuwait Municipality Engineer Nadia Al-Sheriadah disclosed that concession agreement of the workers city project in south Jahra is 40 years, reports Al-Qabas daily.
In a letter to the Secretary General of the Supreme Council for Planning and Development concerning plans for operating and managing strategic projects such as the workers city, Al- Sheriadah said the project is in the framework of partnership between public and private sectors based on Public Private Partnership (PPP).
She stressed the idea is to establish a modern workers city with the required services and infrastructure, in addition to an amusement park and green areas. She added the sector is reviewing Requests for Proposal (RFP) prelude to floating of the project among the prequalified companies and contract will be signed with the winning company before Kuwait Municipality pays the cost, which will be in four tranches starting from the first year of project implementation. She reiterated the concession period is 40 years, and the period of construction work covers three years.
Al-Sheriadah expected the contract to be signed in the last quarter of 2018, noting the revenues and expenditure will be managed by an accounting company whose services Kuwait Municipality will engage within the first three years of executing the project, indicating employees of Kuwait Municipality will be trained later to take over.
Concerning the entertainment city project at Eqaila, Al-Sheriadah stated a study is underway before the project will be fl oated to private companies in line with Law No. 116/2014 in line with the partnership between public and private sectors.
She pointed out that Kuwait Municipality will sign contracts with the winning company to finance the project to be established on State property based on Built, Operate and Transfer (BOT) system. She also said Kuwait Municipality will supervise the project and make double sure the company fulfills all conditions of the contract.
With regard to the proposed solid waste management project at Kabad, she explained that Kuwait Municipality through Kuwait Authority for Partnership Projects has reviewed a study conducted by an international consultancy firm to establish a plant to manage solid waste by burning to generate electrical energy, noting the project meets environment criteria and the remnant ashes from the process will be buried. She noted the project will save space needed for burying waste while serving as an alternative source of energy.
The project will be established on 500 thousand square/meters area in accordance with Law No. 116/2014 and its executive regulations, as per a decision issued by the Municipal Council on April 8, 2002.
Source: Arab Times
KUWAIT CITY, Aug 9: The Criminal Court sentenced two young citizens to five-year imprisonment each with hard labor over charges of sexually assaulting a GCC woman in Jabriya area.
Lawyer Muhammad Abbas filed the lawsuit on the behalf of the victim, requesting the payment of temporary civil compensation worth KD 5,001 and issuance of maximum penalty against the defendants.
He supported his defense with evidences including a report from Telecommunication Tower that proved the two defendants were with the victim at the time of the crime. He also depended on the investigations conducted by Criminal Investigations Department and the report of the General Department for Criminal Evidences.
By Jaber Al-Hamoud Al-Seyassah Staff and Agencies
BEIJING, July 9, (KUNA): Kuwait and China signed a Memorandum of Understanding (MoU) on e-commerce on the sideline of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah’s state visit Monday.
The memorandum, signed by Minister of Commerce and Industry Khaled Al-Roudhan on the Kuwaiti side, aims to boost cooperation in facilitating trade between the two countries and achieve sustainable development in the field. The deal also focuses on boosting electronic trade in the fields of joint studies, sharing experience in making policies, creating dialogue between private and public sectors and organizing joint training courses.
Moreover, it will provide opportunities to develop small and medium-sized enterprises in different fields including tourism and leisure, which will create more job opportunities. The three-year memorandum was signed as part of the visit of His Highness the Amir to China, which commenced last Saturday.
His Highness the Amir’s accompanying delegation includes Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, Deputy Prime Minister and Minister of State for Cabinet Affairs Anas Al-Saleh, Minister of Finance Dr Nayef Al-Hajraf, Minister of Social Affairs and Labor and Minister of State for Economic Affairs Hind Al-Sabeeh, Minister of commerce and industry Khaled Al-Roudan and Minister of Oil and Minister of Electricity and Water Bakheet Al-Rashidi. The delegation also includes, Chief of Staff of His Highness the Amir’s Office Ahmad Fahad Al-Fahad, Advisor at the Amiri Diwan Dr Yousef Hamad Al-Ibrahim, Amiri Diwan advisor Muhammad Abdullah Abu Al-Hasan, Chief of Amiri Protocols Sheikh Khaled Al-Abdullah Al-Nasser Al-Sabah and Deputy Foreign Minister Khaled Suleiman Al-Jarallah.
The delegation also gathered the Chairman and CEO of the Communication and Information Technology Regulatory Authority, Eng Salem Al-Othaina, Director General of Kuwait Fund for Arab Economic Development’s (KFAED) Abdulwahab Al-Bader, Head of Media and Cultural Affairs at Amiri Diwan Yousef Hamad Al-Roumi, Head of Political and Economic Affairs at Amiri Diwan Sheikh Fawaz Al-Saud Al-Nasser Al-Sabah, Director General of the Kuwait Direct Investment Promotion Authority (KDIPA) Sheikh Dr Meshaal Jaber Al- Ahmad Al-Sabah, Chief Executive Officer of the apparatus for developing the Silk City (in Al-Sabbiah) and Boubyan Island Faisal Al-Medlej and top officials at Amiri Diwan, Foreign Ministry and Oil Ministry. In the presence of His Highness the Amir and Chinese President Xi Jinping, Kuwait and China signed several agreements and Memorandum of Understandings aimed at boosting ties.
During a ceremony held at the Great Hall of People in Beijing, Kuwait — represented by Deputy Prime Minister and Minister of Foreign Affairs Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah — and China — represented by Chinese Foreign Minister Wang Yi — signed a cooperation mechanism between the governments of the two states. A cooperation protocol to boost defensive industry cooperation was signed by Foreign Minister Sheikh Sabah Al-Khaled and executive at the Chinese State Administration of Science, Technology and Industry for National Defense Zhang Youxia.
A bilateral cooperation agreement was signed between Kuwait’s Minister of Social Affairs and Labor and Minister of State of Economic Affairs Hind Al-Sabeeh as well as Vice Chairman of the Chinese National Development and Reform Commission (NDRC) Zhang Yong. A MoU on e-commerce cooperation was signed between Kuwaiti Minister of Commerce and Industry Khaled Al- Roudhan and Chinese International Trade Representative and Deputy Minister of Commerce Fu Ziying. A MoU to encourage investment was signed by Director General of Kuwait Direct Investment Promotion Authority (KDIPA) Sheikh Mishal Al- Jaber Al-Ahmad Al-Sabah and Chairman of the China Council for the Promotion of International Trade (CCPIT) Jiang Zengwei. A cooperation agreement was signed between Kuwait Petroleum Corporation (KPC) and China Export and Credit Insurance Corporation (Sinosure). KPC’s CEO Nizar Al-Adsani and Sinosure’s Wang Yi inked the deal. A memo on developing smart applications for Kuwait’s Al-Harir City and Boubyan Islands projects was signed between Chairman of the Board and CEO of Kuwait’s Communication and Information Technology Regulatory Authority (CITRA) Salem Al-Othainah and Chairman of Huawei Technology Liang Hua.
Meanwhile, President Xi held Monday a dinner banquet at the Great Hall of People in Beijing in honor of His Highness the Amir and his accompanying delegation’s official state visit to China. The reception ceremony for the official state visit of His Highness the Amir and his accompanying delegation to China began at Great Hall of the People in Beijing with the presence of President Xi and senior officials on Monday. After the ceremony, His Highness the Amir and President Xi presided over the official talks between Kuwait and China. The discussions focused on the historic bilateral ties in addition to ways and means to develop the partnership on all possible domains, especially within economy. The talks, highlighted by a relaxed and friendly atmosphere, also touched on coordinating efforts within the regional and international spheres, as well as issues of common interest. Furthermore, His Highness the Amir extended an official invitation to President Xi to visit the country.
KUWAIT CITY, June 18: Customs officers at the Salmi border post recently foiled the attempt of an expatriate to smuggle out of the country subsidized foodstuff, reports Al-Anba daily. The daily added the man is a trucker and was leaving Kuwait for an Arab country. The contraband and the trucker have been referred to authorities.