Kuwait 38th in world’s competitiveness report

According to the world’s competitiveness report issued by the World Economic Forum (WEF), Kuwait ranked fourth amongst Arab countries and 38th worldwide in terms of the world’s most competitive economies. According to the report, Switzerland came first worldwide and UAE came first amongst Arab countries. The report includes 138 countries and examines 114 points to measure competitiveness indexes.

Privatization

The final decision on selecting Kuwait Stock Exchange’s privatization consultant is expected to be settled in next Sunday’s meeting of the privatization committee. KSE had invited international consultants to file in their biddings so that one of them will be selected.

Early payment

The Manpower and Government Restructuring Program’s (MGRP) Secretary General Fauzi Al-Majdali announced that the program will finish transferring due payments into bank accounts by Tuesday, June 20. Majdali explained that the transferred sums include national labor support allowances for citizens working for the private sector, graduates and students allowances, unemployment allowances and social allowances.

Embassies

First Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khaled Al-Sabah said that the ministry has set special regulations for companies wishing to work with Kuwait embassies and consulates abroad and that any company matching those conditions could apply to the ministry for accreditation. Responding to a parliamentary inquiry filed by MP Rakan Al-Nisf about monopolizing the process of issuing entry visas by two companies, Sheikh Sabah Al-Khaled stressed that article 99 of the constitution states that only the inquirer has the right to make a single comment on the response made to his inquiry.

Old accommodation

The Ministry of Education’s (MOE) Assailant Undersecretary for Educational Facilities and Planning Dr Khaled Al-Rasheed urged the Ministry of Public Works (MPW) to examine female teachers’ old accommodation buildings including one that used to be a private school, to make a full technical report about it. MPW’s assistant undersecretary for the government sector buildings’ quality affairs Talal Al-Othainah said that the building was structurally unsafe.

Clean Fuel Project

Kuwait National Petroleum Company’s (KNPC) CEO Mohammed Ghazi Al-Mutairi said that the total number of laborers working in the Clean Fuel Project was 47,000 and that 84.9 percent of the project was so far finished. Mutairi added that none of the 199 Kuwaiti employees working in Shuaiba refinery will be laid off.