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Business delegation led by Hong Kong Chief Executive visiting Kuwait to foster strategic cooperation in business & investment

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KUWAIT CITY, May 7: A high-level business delegation led by John KC Lee, Chief Executive of the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR), and organised by the Hong Kong Trade Development Council (HKTDC) will visit the State of Kuwait from 13 to 15 May, 2025 to promote Hong Kong as a two-way platform between Mainland China and the world and to explore new avenues of cooperation aligned with the Belt and Road Initiative and Kuwait Vision 2035. This landmark visit, the first to involve representatives from Mainland China, underscores Hong Kong’s role as a global hub for finance, trade, investment, and cultural exchange.

The delegation – consisting of over 50 senior representatives from Hong Kong and the mainland – will engage with local chambers of commerce and key corporations to explore collaboration, investment, and mutual growth opportunities. The highlight of the visit will be the signing of several Memoranda of Understanding (MoUs). This three-day visit reflects Hong Kong’s efforts to promote cooperation between Hong Kong, the Mainland, and the Middle East. Additionally, the visit aims to deepen economic and trade relations and enhance cultural exchange while exploring opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) through mutually beneficial collaboration.

Delegates will explore emerging sectors such as innovation and technology, transportation, new energy, and sustainable development, in addition to traditional industries like finance, trade, logistics, and professional services. In 2024, as part of its efforts to strengthen bilateral trade, investment opportunities, and strategic alliances, Hong Kong deepened its ties with Kuwait, which ranked as its sixth-largest Middle East trading partner, and its fifth-largest export market and seventh-largest import market in the region. Dr. Peter K N Lam, Chairman of the Hong Kong Trade Development Council, remarked: “The inclusion of Mainland Chinese enterprise delegates in this Mission marks a new chapter in our global outreach strategy. It underscores Hong Kong’s unique role as a bridge between the mainland and the Middle East.

Through this mission, we aim to unlock new avenues of cooperation with local partners under the ambitious framework of Kuwait Vision 2035, leveraging Hong Kong’s world-class strengths in financial and professional services. At the same time, we are committed to fostering cross-regional collaboration not only in traditional sectors such as finance, trade, logistics, and professional services, but also in emerging fields, ranging from innovation and smart city development to sustainability, new energy, green buildings, and waste reduction. We believe this visit lays a strong foundation for a deeper, future-focused partnership between Hong Kong, the mainland, and the Middle East.” This mission represents a significant step in strengthening economic ties between Hong Kong and Kuwait, reinforcing shared interests and laying the groundwork for long-term strategic cooperation in alignment with global development initiatives.

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Agility KSCP Invests in Youth Through Kuwait Codes Program

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KUWAIT CITY, Sep 16: Agility KSCP, a supply chain services, infrastructure and innovation company, has announced the successful conclusion of the 2025 edition of the Kuwait Codes program as part of its ongoing strategic partnership with CODED Academy.

Now in its fourth year, Kuwait Codes has established itself as a leading platform for developing tech and coding talent in Kuwait, providing free training in 2025 to more than 1,000 high school students in app, web, and game development, as well as cybersecurity.

During the closing ceremony, Agility KSCP recognized student achievements by presenting Agility’s award for the “Most Ready for Market Project” for Kuwait Codes 2025. The award was given to Salah Younes Ali, whose project stood out for its innovation and real-world potential.

Agility KSCP is committed to empowering and investing in youth development in Kuwait through strategic partnerships with leading non-profits that expand access to technical and vocational education. Its collaboration with CODED Academy stands as a strong example, with more than 4,500 young learners reached since the launch of the “Kuwait Codes” program in 2022, including 1,072 in 2025 alone, equipping them with essential coding and entrepreneurship skills.

Agility KSCP’s CSR program underscores the private sector’s critical role in advancing youth development and fostering innovation in Kuwait. This year, Agility KSCP aims to reach over 5,000 individuals nationwide through initiatives focused on education, technology, and entrepreneurship, building on two decades of partnerships that have already impacted more than 51,000 people across the country.

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UK inflation remains nearly double target ahead of expected interest rate hold

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UK inflation remains nearly double target ahead of expected interest rate hold

British Chancellor of the Exchequer Rachel Reeves looks on during a cabinet meeting at 10 Downing Street, in London on Sept 9. (AP)

LONDON, Sept 17, (AP): Inflation in the UK held steady at 3.8% in the year to August, official figures showed Wednesday, a day before the Bank of England is widely expected to keep interest rates on hold. The Office for National Statistics found food and drink prices rose for the fifth month in a row, but airfares fell sharply after a big spike in July.

Though inflation remains nearly double the Bank of England’s target rate of 2%, most economists had anticipated a modest increase in August. Stubbornly high inflation has been one of the reasons why the Labour government’s poll ratings have fallen sharply since it came to power in July 2024. Treasury chief Rachel Reeves will be hoping inflation starts to drop down towards target, as many forecasters predict, in the year to come as it will relieve some of the cost-of-living pressures that are hurting households and undermining the government’s support.

“I know families are finding it tough and that for many the economy feels stuck,” she said after the figures were released. “That’s why I’m determined to bring costs down and support people who are facing higher bills.” Reeves’ economic plans will be in the spotlight over the coming weeks ahead of her annual budget on Nov 26, where she is widely expected to increase taxes again to bolster revenues and simultaneously introduce policies to ease the cost-of-living pressures.

Many critics blame Reeves personally for the increase inflation this year, saying her decision to increase taxes on businesses to plug a budget hole prompted firms to up prices. The inflation figures have cemented market expectations that the Bank of England will keep interest rates unchanged on Thursday. Since it started cutting borrowing rates in August 2024 after the unwinding of the previous spike in inflation in the wake of Russia’s invasion of Ukraine, the bank has done so in a gradual manner every three months.

When it cut its main rate to 4% in August, it was largely expected there would be no further reduction at the September meeting. If the bank were to continue to cut interest rates in the manner it has been doing so, the next meeting in November would see a further reduction. However, economists remain split as to whether another cut is forthcoming since inflation has proven to be stickier than anticipated earlier this year, partly because of relatively high wage increases. 

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Kuwait cracks down on industrial plot violations

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Kuwait cracks down on industrial plot violations

Minister of Commerce and Industry Khalifa Al-Ajeel

KUWAIT CITY, Sept 17: Minister of Commerce and Industry Khalifa Al-Ajeel issued three ministerial decisions Tuesday to establish specialized inspection committees aimed at monitoring and controlling violations on industrial plots supervised by the Public Authority for Industry (PAI).

The committees, each headed by a senior advisor, will conduct comprehensive surveys of industrial plots, oversee violations, and enforce corrective actions as necessary. The PAI said in a statement to KUNA that this initiative seeks to restore order and discipline within the industrial and service sectors, support compliant factories, and encourage serious business activities. The ultimate goal is to foster an advanced industrial environment that strengthens the national economy and boosts its competitiveness.

The inspection committees comprise representatives from eight government entities: the Ministry of Interior, Kuwait Municipality, Fatwa and Legislation Department, General Fire Force, Ministry of Electricity, Water and Renewable Energy, Ministry of Health, Public Authority for Manpower, and Ministry of Justice. This multi-agency collaboration aims to streamline regulatory and supervisory roles.

According to the decisions, the committees are tasked with conducting integrated surveys of all plots under PAI supervision, identifying violations, and taking legal action accordingly. They will also prepare detailed reports outlining detected violations, recommendations, and proposed procedures.

The PAI emphasized that the committees have been granted extensive inspection and oversight powers, including the use of modern technology to enhance operational efficiency. The Authority highlighted that this move underlines the government’s commitment to transparency and discipline in managing industrial, commercial, service, and craft plots.

By reinforcing investor confidence, promoting fair competition, and ensuring regulatory compliance, the committees are expected to create an industrial sector capable of significantly contributing to Kuwait’s national economy.

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