Tarek Sultan, Agility Global Chairman

CAIRO. July 16: UNHCR, the UN Refugee Agency in Kuwait, signed an agreement with Agility Global to support refugee education in Egypt.

With the agreement, Agility Global’s contribution will support UNHCR’s initiative to enable more than 2,000 refugee students in Egypt to access education during the academic year 2025-2026 by enabling them to cover the costs of enrollment fees and other educational expenses. This support will ultimately enhance the refugees’ personal development, community integration, social cohesion, and future opportunities.

“This partnership with Agility Global represents more than just financial support. It is an act of solidarity at a time when global displacement has reached a staggering 122.1 million forcibly displaced people,” said Nisreen Rubaian, UNHCR’s Representative in Kuwait. “The private sector has a vital role to play in transforming lives. Our strategic partnership with Agility Global’s is a solid example of how meaningful partnerships can unlock opportunities for the most vulnerable people, especially through education. Together, we are turning the ‘whole-of-society’ approach into a powerful reality.”

On his part, Agility Global Chairman, Tarek Sultan said: “Agility Global’s contribution aims to address the challenges and support the displaced families impacted by conflict and persecution by facilitating the education of their children. We hope that we can help refugee students build a better future and empower them by gaining the knowledge and the skills needed to thrive and become positive contributors in the society that’s hosting them. This will also allow them to contribute to rebuilding their home countries when they return in safety and dignity.”

Egypt is a transit and destination country for refugees and asylum-seekers. Since the start of the Sudan conflict in April 2023, a large influx of Sudanese refugees has arrived in Egypt seeking safety (more than 1,200,000 according to the Government of Egypt). As of 4 February 2025, some 905,000 individuals (70% Sudanese; 16% Syrians; 5% South Sudanese, 4% Eritreans) are registered with UNHCR in Egypt – more than triple the number registered at the start of the Sudan crisis. Of them, 572,000 are new arrivals from Sudan (three quarters are women and children).

Agility has been a long-standing partner of UNHCR, supporting programs in Lebanon, Jordan, Malaysia, Turkey, Ukraine and Uganda over the past 16 years.

Federico DeMarco, left, and Ed Curran work on the floor at the New York Stock Exchange in New York on July 16. (AP)

BANGKOK, July 17, (AP): World shares were mostly higher Thursday while US futures were mixed after President Donald Trump rocked Wall Street by saying he had “talked about the concept of firing” the head of the Federal Reserve, but was unlikely to do so. Removing Fed Chair Jerome Powell might help Wall Street get the lower interest rates investors love but would also risk a weakened Fed unable to make the unpopular moves needed to keep inflation under control.

In early European trading, Germany’s DAX gained 0.8% to 24,209.08, while the CAC 40 in Paris also rose 0.8%, to 7,785.91. Britain’s FTSE 100 added 0.4% to 8,960.99. The future for the S&P 500 edged 0.1% higher, while that for the Dow Jones Industrial Average lost 0.1%. Asian markets also were mostly higher. Tokyo’s Nikkei 225 index gained 0.6% to 39,901.19 after the government reported a trade deficit for the first half of the year as Japan’s exports to the United States took a hit from Trump’s tariffs.

The Hang Seng in Hong Kong shed early gains to close down 0.1% at 24,498.95, while the Shanghai Composite index gained 0.4% to 3,516.83. Australia’s S&P/ASX 200 advanced 0.9% to 8,639.00. In South Korea, the Kospi climbed 0.2% to 3,192.29. India’s Sensex lost 0.3% while the SET in Bangkok jumped 3.3% on strong gains for market heavyweights like Airports of Thailand and Delta Electronics.

On Wednesday, the S&P 500 rose 0.3% and the Dow industrials added 0.5%. The Nasdaq composite gained 0.3% to a fresh record of 20,730.49. Stocks were rising modestly in the morning before news reports saying that Trump was likely to fire Fed Chair Jerome Powell quickly sent the S&P 500 down by 0.7%. When later asked directly if he was planning to fire Powell, Trump said, “I don’t rule out anything, but I think it’s highly unlikely.”

That helped calm the market, and stocks erased their losses, though Trump added that he could still fire Powell if “he has to leave for fraud.” Trump has been criticizing a $2.5 billion renovation project of the Fed’s headquarters. Trump is unhappy that the Fed has not cut interest rates this year, a move that would have made it easier for U.S. households and businesses to get loans to buy houses, build factories and otherwise boost the economy.  

KUWAIT CITY, July 16: The Ministry of Commerce and Industry issued 9,881 new company licenses through its Single Window Administration in the first quarter of 2025, marking a 9.4% year-on-year increase from 9,029 licenses during the same period in 2024. The growth of 852 new licenses reflects the Ministry’s continued efforts to streamline business registration and reduce bureaucratic hurdles.

A total of 5,940 companies were established during the quarter. This surge is attributed to a series of administrative reforms implemented by the Ministry aimed at simplifying licensing procedures, minimizing regulatory steps, and eliminating redundancies in the process of setting up and managing businesses.

According to official data, commercial licensing activity saw a significant boost across multiple categories. Company licenses rose 21.3% to 8,390 from 6,919 in Q1 2024, while applications under processing increased to 514.

In the segment of personal company formation, the Ministry received 14,000 applications. Of these, 8,287 were rejected, 705 were approved, 641 were canceled, and 4,526 companies were successfully established. An additional 705 are in the process of being established.

Conversely, licensing activity for special-purpose companies recorded a sharp decline. Only 38 licenses were issued in the first quarter of 2025—a 97% drop compared to 1,660 licenses issued in the same quarter last year. Despite the decline, the Ministry processed 56 applications, resulting in the establishment of nine companies, with six licenses currently in issuance.

Freelance Sector Sees Major Expansion

The freelance and micro-enterprise segment experienced robust growth, fueled by regulatory changes introduced in August 2024. The Ministry reported a 227.25% surge in new licenses for micro and freelance enterprises, rising to 1,453 from 1,000 in Q1 2024. Currently, 42 licenses are in the process of being issued.

Of the 1,649 freelance business license applications submitted, 1,449 were rejected, 705 were approved, and 1,405 companies were established. A further 114 are in the process of formation. This growth reflects the Ministry’s move to support independent professionals and small-scale entrepreneurs through simplified licensing for 175 defined activities that do not require commercial premises.

Licenses in this category, valid for four years, can be obtained via the Single Window Administration, the “Sahel” or “Sahel Business” mobile platforms, or other approved channels.

The Ministry also mandated that all freelance license holders clearly display their license number on their business accounts across electronic and social platforms, and conduct all transactions exclusively through electronic payment methods.