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Oil experts hail US-China tariff truce, foresee boost in global demand

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KUWAIT: Kuwaiti oil experts have welcomed the 90-day suspension of tariffs between the United States and China, describing the move as a step toward restoring global economic confidence and stabilizing oil markets. The temporary truce, they say, could lead to a recovery in global oil demand after months of volatility. Experts told KUNA that oil prices had declined sharply since the start of the trade dispute in April, as fears of a global economic slowdown weighed on market sentiment. However, the recent agreement has reversed that trend, pushing prices higher and easing investor concerns.

Oil expert Jamal Al-Gharabally said the suspension of tariffs was a “positive step” toward easing trade tensions that have cast a shadow over energy markets. He noted that OPEC projects oil demand could rise by one to two percent annually if trade relations between major economies stabilize. Energy analyst Dr Abdulsamee Behbehani pointed out that despite OPEC’s recent decision to increase production in May and June — a move typically associated with downward pressure on prices — the market reacted positively to the tariff agreement.

“The positive sentiment from the US-China deal outweighed the production increase,” he said, adding that oil prices climbed to $66 per barrel, the highest in two weeks. He also highlighted that Iran’s willingness to continue indirect negotiations with the US may exert further upward influence on prices in the near term. Analyst Ahmad Mulla Juma stressed that oil prices are closely linked to market sentiment.

“Optimism about economic recovery drives demand expectations higher, while negative outlooks result in price declines,” he said. Meanwhile, Chairman of the Kuwait Business Council in Dubai, Dr Firas Al-Salem, cautioned that despite the temporary relief, uncertainties remain in global economic policy. He predicted that oil prices will likely hover between $60 and $70 per barrel in the coming period, citing subdued demand prospects and ongoing pressure on petrochemical margins.

The US and China agreed to suspend tariffs imposed since April 2, forming a joint consultation committee to manage trade issues. As part of the agreement, tariffs on Chinese goods were reduced from 145 percent to 30 percent, with the remainder of duties postponed for 90 days. – KUNA

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Three jailed for manslaughter over deadly Mangaf fire

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Kuwaiti firefighters and security forces gather outside a building which was ingulfed by fire, in Mangaf, on June 12, 2024. More than 35 people were killed and dozens injured in a building fire in an area heavily populated with foreign workers in Kuwait, the interior ministry said. - Photo by Yasser Al-Zayyat

Kuwaiti firefighters and security forces gather outside a building which was ingulfed by fire, in Mangaf, on June 12, 2024. More than 35 people were killed and dozens injured in a building fire in an area heavily populated with foreign workers in Kuwait, the interior ministry said. – Photo by Yasser Al-Zayyat

KUWAIT: The misdemeanors court on Tuesday sentenced two Kuwaitis and an Egyptian to three years in prison, convicting them of manslaughter over a Mangaf building fire in which 46 Indian and three Filipino workers were killed. The case was treated as a misdemeanor and not a crime by the prosecution since the fire, which also injured dozens of others, was not intentional. The tragedy happened in June last year.

The court also sentenced two other men to one year in jail for perjury after lying to the court and jailed four others for giving shelter to a suspect wanted in the case. The six convicts are three Indians and three Egyptians. The rulings are not final as they are expected to be challenged by the prosecution and defense lawyers as well. The fire was the second-deadliest in Kuwait after a fire at a Jahra wedding tent killed 57 people, mostly women and children, in 2009.

The fire broke out at dawn in an apartment building housing 196 all-male expat workers. Most of the victims were reported to have succumbed after inhaling smoke as the door leading to the roof was locked by company officials, and as a majority of them were still sleeping. Some of the workers threw themselves from the six-storey building to escape the blaze.

An official investigation later said the fire resulted from an electrical short circuit on the ground floor. It spread quickly in the building because of partitions made of inflammable material. HH the Amir Sheikh Meshal Al-Ahmad Al-Sabah ordered cash payments to the relatives of each victim.

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KISR: Women play a key role in Kuwait’s green vision

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KUWAIT: Acting Director General of the Kuwait Institute for Scientific Research (KISR), Dr Faisal AlHumaidan, emphasized the strong role of women in helping Kuwait move toward a greener and more sustainable future. “Despite facing numerous challenges, they have consistently risen above them, playing a key role in preserving social stability,” AlHumaidan said during the EU-Kuwait Environment and Climate Change event held on Wednesday.

Held in celebration of Kuwait Women’s Day and Europe Month, the event brought together policymakers, scientists, and diplomats to highlight the importance of women’s leadership in climate action. It was organized by KISR in cooperation with the European Union Delegation to Kuwait, the Embassy of the Kingdom of Spain, and the EU-GCC Cooperation on Green Transition Project. Quoting data from the UNESCO Institute for Statistics, AlHumaidan noted that “women account for 35 percent of STEM graduates in the year 2022.” However, he added, “despite their strong academic and professional achievements, their presence in the green economy remains limited.”

Underlining the importance of international collaboration in science and innovation, he stressed, “There is a growing moment to strengthen the research tie between Kuwaiti women scientists and their global counterparts.” He explained that the event’s purpose is to “amplify women’s role in environmental innovation and policymaking and to promote a more inclusive and resilient approach to sustainability.” AlHumaidan continued: “Today, they continue to face new challenges with unwavering determination, resilience, and confidence, knowing that their enduring accomplishments will continue to benefit humanity.”

He also praised the contributions of women at KISR, saying: “The pioneering women researchers at KISR have made significant strides in energy leadership and have driven remarkable breakthroughs in research and development.” Their work, he said, “is both evident and enduring, reflected in the practical application shaped by their deep commitment and expertise.” He concluded by affirming KISR’s support for future generations: “At KISR, we remain deeply committed to support the next generation of women scientists, innovators, and leaders.”

In her opening remarks, Anne Koistinen, European Union Ambassador to Kuwait, emphasized the EU’s commitment to empowering women and fighting climate change: “This event builds on the excellent cooperation we have had over the past years with different sectors of the Kuwaiti government and society on the important nexus of women and environment. Empowering women is at the heart of the European Union’s Green Deal and our global partnerships. By supporting women’s leadership in science, innovation, and policy, we help drive progress toward a sustainable and inclusive future, not only for Europe and Kuwait, but for the world we share.”

Manuel Hernández Gamallo, Ambassador of the Kingdom of Spain to Kuwait, also addressed the audience: “Spain is proud to bring voices from Spain to this important conversation. Women have a great role to play in the green transition, with leading roles in research, entrepreneurship, and policy development.” He added that gender equality is a key part of Spain’s foreign policy, and that Spain is committed to supporting women’s participation in science and environmental leadership not only in Europe, but around the world — including here in Kuwait. Among the notable guests were outstanding Spanish geologists Dr. Manuela Chamizo and Dr. María Victoria Navarro.

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US Ambassador welcomes Trump’s Gulf visit, highlights strong US-Kuwait food security ties

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KUWAIT: US Ambassador to Kuwait Karen Sasahara on Tuesday welcomed the visit of former US President Donald Trump to the Gulf region, describing it as a continuation of his longstanding relationships with Gulf leaders. “We are pleased with President Trump’s visit to the region. He has had deep-rooted relationships with Gulf leaders since his first term,” she said.

Her remarks came on the sidelines of the Fourth Annual Food Safety and Nutrition Summit, jointly organized by the US Department of Agriculture, the Ministry of Health, the Public Authority for Food and Nutrition and the US Embassy. The two-day summit is being held at the Ministry of Foreign Affairs with broad participation from Gulf Cooperation Council (GCC) countries. Ambassador Sasahara said Trump’s renewed engagement with Gulf partners reflects the strength of ongoing bilateral and regional dialogue. “President Trump is now resuming those relations through very important discussions on bilateral and regional matters. We are looking forward to the progress these talks will achieve,” she added.

The ambassador emphasized the robust economic ties between the United States and Kuwait, particularly in the field of agriculture. She noted that bilateral trade in agricultural goods reached $275 million in 2024, while total US agricultural exports to the GCC amounted to $3.6 billion. “Our embassy team has worked closely with Kuwaiti government institutions and local farmers to address food security challenges and explore how US technologies can contribute to sustainable solutions,” she said. Sasahara described agriculture and food not only as economic sectors, but also as bridges that bring nations together. She highlighted the summit’s goal of enhancing cooperation and exchanging best practices in food safety and nutrition.

“The United States exported more than $191 billion in agricultural products last year,” she said, pointing to Washington’s leadership in agricultural innovation and its call for long-term investments in biotechnology, improved seeds, and fertilizers. She also noted that the US and GCC share common public health concerns, particularly the rise in obesity and chronic diseases. “We are committed to working with our regional partners to raise nutrition standards and improve public health outcomes,” the ambassador said.

For his part, Minister of Health Dr Ahmad Al-Awadhi underscored the critical importance of food safety and nutrition in achieving sustainable development. “Ensuring access to safe and adequate food and advancing nutrition systems are fundamental pillars for sustainable progress,” he said in his opening remarks. Dr Al-Awadhi stressed that Kuwait remains committed to aligning its efforts with the United Nations 2030 Sustainable Development Goals, particularly those targeting hunger eradication and sustainable agriculture. He cited Kuwait’s National Food Security Strategy, enhanced import regulations, and updated guidelines for school canteens as examples of recent initiatives.

Citing World Health Organization (WHO) data, the minister warned of the human toll of unsafe food, noting that more than 600 million people suffer from foodborne illnesses annually, leading to over 420,000 deaths — including 125,000 children under the age of five. “These figures highlight the urgent need to strengthen food safety systems and raise awareness, particularly to protect vulnerable groups like children,” he said. He also addressed the global rise in obesity, pointing to WHO statistics indicating that over one billion people are currently obese. “Childhood obesity rates have quadrupled since 1990, and in 2024, over 15 million children under five were classified as overweight,” he said.

Dr Al-Awadhi called for increased investment in food inspection and laboratory capabilities across the region, and praised international partnerships, particularly with the United States and UN agencies, in developing resilient food safety systems. The summit aims to serve as a platform for regional and international stakeholders to collaborate on policy, innovation, and public health approaches that enhance food security and nutrition outcomes across the Gulf. — KUNA

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