KIA slams report on decline of its Sovereign Fund assets
KIC to host 22nd ARABAL conference
KUWAIT CITY, June 3, (KUNA): The Kuwait Investment Authority (KIA) on Sunday quashed reports on a decline in the assets of Kuwait’s Future Generations Fund (FGF), by 11.5 percent, about $68 billion.
The circulated data and figures are mere “external and erroneous estimates by uninformed agencies, and do not reflect the real performance of KIA’s assets portfolio, the authority added in a statement.
They estimated KIA’s assets at $592 billion in 2015, and $524 billion in 2016, claiming a fall of $68 billion.
The reserves are at their best since KIA was established and “no decrease whatsoever has occurred,” KIA stressed. It also slammed attempts targeting the “state’s economic policy” and the reputation of the FGF (Kuwait’s Sovereign Fund) through disseminating false data.” KIA’s performance is monitored by relevant control agencies, and is annually reviewed by the National Assembly.
Kuwait Industries Company Holding (KIC) is the proud host of the 22nd Arab International Aluminium Conference (ARABAL), November 11-13, KIC said on Sunday. Up to 50 countries are expected to take part in the leading regional conference and exhibition, to be patronized by His Highness the Prime Minister Sheikh Jaber AlMubarak Al-Hamad Al-Sabah.
ARABAL is the premium platform for the aluminium industry in the Arab world. It is hosted on rotation basis by the major aluminium manufacturers in the region.
Since it was inaugurated in Kuwait in 1983, ARABAL has become an event of international repute, bringing together industry leaders from around the world to discuss current issues in the aluminium sector whilst also exploring investment opportunities in the region. The 22nd session will focus on ARABAL’s successes over the past three decades for a prosperous future of the aluminium industry.
Kuwait’s Ambassador to Jordan Dr Hamad Al-Duaij on Sunday urged Kuwaiti nationals in the Kingdom to keep away from areas of protests, for their safety. In a statement by the embassy in Amman Sunday, Al-Duaij called on Kuwaitis to stay at home at night, except for urgent necessities, and to avoid areas where protests are staged, as well as the surrounding streets.
The envoy stressed keenness on Kuwaitis’ safety, mainly students, lauding security and safety in the Kingdom under its wise leadership, according to the statement.
In emergencies, Kuwaitis in Jordan can seek assistance through calling on: 0096265675137, 009626575135, 0096265675136, 0096265605139 and 0096265699217. Over the past three days, Amman and some areas across Jordan have been the scene of protests against rise in prices. Picture shows Palestinian protestors in Gaza Strip holding the flag of Kuwait when confronting the Israeli forces, reports Al-Qabas daily. They carried the flag in appreciation for the stance of Kuwait in support of their cause. The protestors expressed gratitude to Kuwait by holding its flag during recent demonstrations. The voice of Kuwait will remain high for ensuring the victory will be Palestine’s. KUWAIT CITY, June 3: Ministry of Awqaf and Islamic Affairs will witness some changes in various departments in the coming weeks with the aim of giving chances to the youth especially women to occupy senior positions in the ministry, reports Al-Qabas daily quoting informed sources.
They indicated that Minister of Justice and Minister of Awqaf and Islamic Affairs Fahad Al-Afasi will issue a decision on filling 17 supervisory vacancies including positions of directors, heads of departments, technical directors and monitors in addition to the position of assistant undersecretary for Hajj Affairs.
The sources revealed about the pressure practiced by some Islamic blocs in order to gain as many vacant jobs as possible, stressing that filling the vacancies will be done according to objective evaluation without any form of favoritism.
Meanwhile, sources indicated about coordination among Ministry of Awqaf and Islamic Affairs, Ministry of Interior and Ministry of Social Affairs and Labor to form a threeway committee for arresting those who pretend to be Imams at Ministry of Awqaf and collect donations from citizens in diwaniyas and the stables of horses after giving some preaches for gaining the sympathy of the youths.
Meanwhile, Minister Al-Afasi issued a decision to reorganize the Fatwa and Legislation Department and its three relevant specialist committees.
The decision includes defining the tasks and specializations, and the types of topics that the department will be tasked to issue fatwas on.
The decision also defines the conditions for membership in the Fatwa and Legislation Department and the characteristics required from the candidates. These conditions include being a Kuwaiti citizen, being an efficient clerk with deep experience in the field of fatwa and jurisprudence, and a history of good behavior.
With the successful implementation of the malpractice regulations this year by Ministry of Education and its contribution to significantly reducing the chaos that were prevalent in the previous years, the pass rate this year is expected to be lower than the previous years, reports AlAnba daily quoting informed sources.
They revealed that Minister of Education and Higher Education Dr. Hamid Al-Azmi has demanded for the examination results of previous years in order to compare them with the examination results of this year.
In a related context, a number of high school directors went to their respective schools on Friday and Saturday to prepare copies of malpractice reports, students’ exam papers and cheating paraphernalia used by students in order to submit at a court session which will be held this week to look into some cases filed by students against Ministry of Education.
The sources affirmed that the ministry respects judicial rulings and is ready to implement any verdict issued by the court, revealing that there are several cases that have been postponed until mid of this month.