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stc ranked the 3rd strongest telco brand in the world by Brand Finance

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KUWAIT CITY, Apr 26: Kuwait Telecommunications Company – stc, a world-class digital leader providing ‎innovative services and platforms to customers, enabling the digital transformation in Kuwait, has been ‎ranked as the 3rd strongest telco brand in the world, while maintaining its ranking as the most valuable ‎telco brand in the Middle East. According to the Brand Finance’s latest “Telecoms 150” Report, stc was ‎also ranked as the 9th most valuable telco brand globally.‎

Developed by Brand Finance, the world’s leading independent brand valuation consultancy, the Telecom ‎‎150 Report is a dedicated industry ranking that assesses the world’s top 150 strongest telecoms brands. ‎Utilizing the Brand Strength Index (BSI), the “Strongest Telecom Brand” ranking evaluates key factors ‎such as resilience, customer perception, and the depth of a brand’s relationship with its audience. ‎

The report highlighted stc Group’s outstanding performance, which saw a notable 16% growth in brand ‎value in 2024, reaching USD16.1 billion. The growth is mainly attributed to the Masterbrand strategy ‎implemented by stc Group, where it extended the brand into new categories such as banking, ‎cybersecurity, and the development of B2B and IT offerings through strategic M&A initiatives. ‎

In 2024, stc Kuwait demonstrated its unwavering commitment to digital transformation and operational ‎excellence, achieving several key milestones, mainly;‎

‎-‎ stc Kuwait successfully tested 10Gbps using the 6GHz IMT frequency spectrum trial, marking a ‎first in Kuwait

‎-‎ stc Kuwait upgraded from the Main Market to the Premier Market in Boursa Kuwait, reinforcing ‎its commitment to governance and investor confidence. ‎

‎-‎ stc Kuwait signed an MoU with Huawei to develop 5.5G intelligent wireless networks and ‎incubate new services for both consumer and business sectors, enhancing network performance, ‎efficiency, and innovation. ‎

‎-‎ stc Kuwaitlaunched the first 5G RedCap Fixed Wireless Access in the Middle East, showcasing ‎its commitment to technological leadership.‎

‎-‎ stc Kuwaitexpanded its business solutions with new multi-tenant SIEM services targeting SMEs.‎

‎-‎ stc Kuwaitcompleted a PoC for a new long-range microwave technology, enabling high-capacity ‎backhauling of up to 5Gbps over 8 kilometers.‎

‎-‎ stc Kuwaitintroduced ‘youth from stc,’ exclusive telecom plans tailored for young customers in ‎Kuwait ‎

‎-‎ stc Kuwait successfully maintained its ISO certifications, including ISO 9001:2015, ISO ‎‎14001:2015, ISO 27001:2022, ISO 20000-1:2018, ISO 22301:2019, and ISO 31000:2018‎

‎-‎ stc Kuwait partnered with HomeWagon to introduce innovative smart home solutions.‎

‎- stcKuwait signed a strategic contract with the Ministry of Electricity, Water & Renewable Energy ‎‎(MEW) to supply Smart Electricity Meter solutions‎

‎-‎ stcKuwait was ranked the #1 ideal employer for engineers and IT professionals in Kuwait by ‎Universum’s research. ‎

‎-‎ stc Kuwait signed a final contract with CITRA for the allocation of a 5,698.5 square meter area to ‎serve as its new administrative headquarters in Kuwait City, Al-Mirqab Area. ‎

In terms of corporate social responsibility and sustainability, stc Kuwaitcontinued to implement its ‎extensive agenda with active campaign throughout the year initiated under various campaigns. The ‎Company focused on its core pillars under CSR and sustainability which included areas such as ‎education, environmental sustainability, sports, health, youth empowerment, and entrepreneurship. ‎Additionally, the Company enhanced its existing campaigns, which included “weyak” – that aims at ‎supporting young entrepreneurs and startups, and the educational ‘upgrade’ initiative – that aims at ‎empowering youth and supporting the education initiatives. ‎

Due to these remarkable achievements, as well as other successful accomplishments witnessed ‎throughout the year, stc Kuwait received numerous reputable awards. These recognitions were awarded ‎to stc Kuwait on both regional and international platforms, recognizing the Company’s excellence across ‎all fronts.‎

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Second phase of merging Kuwait oil companies underway

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KUWAIT CITY, June 30: In preparation for the second phase of merging the subsidiaries of the Kuwait Petroleum Corporation (KPC), informed sources revealed that the executive phase of merging Gulf Oil Company with Kuwait Oil Company (KOC) has begun through the transfer of the corporation’s shares in the capital of the Gulf Oil Company to KOC. They highlighted a meeting held recently between the two companies’ CEOs to start making administrative decisions regarding this matter. The sources explained that the second phase, following the initial merger of KIPIC with the Kuwait National Petroleum Company, is part of KPC’s strategy to restructure the oil sector. This phase commenced with a meeting between KOC’s CEO Ahmed Al-Eidan, acting CEO of Gulf Oil Company Bader Al-Munaifi, and representatives from the oil sector’s leadership and workforce. The meeting also discussed the implications of Decision No. 60/2024, issued on May 5, 2024, concerning the transfer of KPC’s ownership of shares. ‘

Al-Eidan affirmed the importance of job stability and preserving all benefits of Gulf Oil employees. It was decided that the legal and administrative status of Gulf Oil Company will remain unchanged at this stage, including the company’s name, logo, and operational sites at its headquarters and joint operations in Khafji and Al-Wafra. The sources clarified that Al-Eidan indicated the change is limited solely to the transfer of share ownership, with KOC becoming the owning entity instead of KPC. Consequently, the highest authority will be the Board of Directors of KOC, without affecting daily operations or the current institutional structure.

By Najeh Bilal
Al-Seyassah/Arab Times Staff 

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Kuwait enhances laws to combat money laundering and terror funding

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Kuwait enhances laws to combat money laundering and terror funding

The Kuwait government approves tougher measures to tackle financial crimes.

KUWAIT CITY, June 30: Kuwait is intensifying efforts to combat money laundering and terrorist financing by enhancing its legislative framework, announced Minister of Finance and Minister of State for Economic Affairs and Investment Noura Al-Fassam on Monday.

The minister spoke in a statement issued by the Ministry of Finance following the publication of Decree Law No. (76) of 2025 in the official gazette, Kuwait Today. This decree introduces important amendments to Law No. (106) of 2013, reflecting Kuwait’s integrated government efforts to strengthen measures against financial crimes.

During the Cabinet meeting on June 17, the draft of the amended decree law was approved, underlining Kuwait’s commitment to raising the effectiveness of the national response to money laundering and terrorism financing. The amendments align with the requirements of the Financial Action Task Force (FATF) and relevant international standards.

The new decree law includes two significant amendments:

  • Article One replaces Article (25) of Law No. (106) of 2013, empowering the Council of Ministers, upon the recommendation of the Minister of Foreign Affairs, to issue necessary decisions to implement United Nations Security Council resolutions related to terrorism, terrorism financing, and the proliferation of weapons of mass destruction under Chapter VII of the UN Charter. These decisions will take effect immediately upon issuance, consistent with Security Council Resolution No. 1373 of 2001. The executive regulations will define the rules for publishing these decisions, appealing them, authorizing the release of frozen funds for essential living expenses, and managing such assets.n
  • Article Two adds a new Article (33 bis) to Law No. (106) of 2013, stating that any violation of decisions issued under Article (25) will result in fines ranging from 10,000 to 500,000 Kuwaiti dinars per violation. This penalty complements any additional sanctions imposed by regulatory authorities on financial institutions or designated non-financial businesses.n

The Ministry emphasized that these amendments support the National Committee for Combating Money Laundering and Terrorism Financing by broadening its powers to apply targeted financial sanctions in compliance with FATF standards. This includes the mandatory freezing of assets belonging to individuals and entities listed locally as terrorists, effective immediately upon decision issuance.

Furthermore, the amendments enable the Committee to impose fines on violators and require publishing the national list of designated terrorists on the Committee’s official website, enhancing transparency and meeting international obligations.

Minister Al-Fassam concluded that the updated legislative measures reaffirm Kuwait’s strong commitment to fighting financial crimes, safeguarding national security and stability, and fulfilling its global responsibilities.

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Kuwait updates regulations for public properties and service fees

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Kuwait updates regulations for public properties and service fees

Updated regulations aim to boost fair use and revenue from state properties.

KUWAIT CITY, June 30: The Ministry of Finance announced on Sunday the issuance of a new ministerial decision amending the regulations governing the use of state-owned real estate and service fees, in a move aimed at achieving a fair balance between public interest and the needs of individuals and institutions.

In a press statement, the Ministry said the decision comes as part of its broader efforts to regulate the use of government-owned properties and protect national resources. Ministerial Resolution No. 54 of 2025 introduces amendments to the regulations first outlined in Resolution No. 40 of 2016.

Minister of Finance and Minister of State for Economic Affairs and Investment, Eng. Noura Al-Fassam, stated that the amendments are intended to ensure fairness, clarify procedures, and improve transparency in the utilization of state assets.

“These changes aim to establish a fair balance in how state-owned properties are used by citizens and entities, while safeguarding public interests,” Al-Fassam said.

She added that the updated regulations were the result of a comprehensive pricing study comparing Gulf and international markets. The amended prices remain below average rates in Gulf Cooperation Council (GCC) countries, and were developed with Kuwait’s economic and social conditions in mind. The goal, Al-Fassam noted, is to promote equal opportunities and secure sustainable revenue streams for the state.

The amendments cover a wide range of activities involving the use of state-owned property, including chalets, rest houses, commercial complexes, cooperative societies, banks, and warehouses. They also apply to educational institutions, sports clubs, and hospitals.

In support of national food security and the promotion of local production, the Ministry also announced the stabilization of agricultural coupon prices under the new regulations.

The revised framework reflects Kuwait’s continued efforts to modernize its public asset management policies while maintaining a strong emphasis on economic fairness, efficiency, and sustainability.

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