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Kuwait Times
20-07-2025
- Business
- Kuwait Times
Kuwait to introduce Digital Media diploma in collaboration with PAAET and Journalists Association
Kuwait Info. Ministry, PAAET, journalists discuss creating Digital Media diploma program. —KUNA KUWAIT: Kuwait's Ministry of Information, the Public Authority for Applied Education and Training (PAAET), and the Kuwait Journalists Association (KJA) have agreed to launch a new diploma in Digital Media at PAAET, the Information Ministry said on Sunday. The move is part of a broader initiative to equip Kuwaiti youth with skills in emerging digital media fields such as visual and interactive content, social media platforms, and tourism-focused media, the ministry said in a statement. Minister of Information and Culture and Minister of State for Youth Affairs Abdulrahman Al-Mutairi met with PAAET Director General Dr. Hassan Al-Fajjam and KJA Chairman Adnan Al-Rashed to advance the initiative. The diploma aims to develop a new generation of content creators who can produce high-quality, culturally relevant material, support Kuwait's tourism ambitions, and strengthen the local media landscape. The program is also expected to encourage youth entrepreneurship, the ministry added. The initiative aligns with Kuwait's long-term vision of fostering a knowledge-based, creative economy under the 'New Kuwait' development plan, it said. Also present at the meeting were KJA Treasurer Dhahiran Aba Al-Khail and PAAET Deputy Director General for Applied Education and Research Dr. Mohammad Al-Hayyan.—KUNA
Arab Times
14-06-2025
- Business
- Arab Times
Economists call for the acceleration of the ‘Northern Economic Zone' project
KUWAIT CITY, June 14: A general policy titled, 'Building a Special International Economic Zone', is listed on the official website 'New Kuwait' – specifically under the section for public policies and supporting projects, and directly beneath it is a single associated project – 'Developing the Northern Economic Zone.' According to the website, the project is scheduled for completion in 2026, yet the reported implementation rate remains at zero percent. The website defines the project as 'the establishment of a zone governed by special laws and regulations designed to attract investment, supported by an independent institutional framework that ensures the attraction of high value-added global investments, fosters innovation, and guarantees transparency in the management of financial resources.' Progress to date has been limited to activating the agreement between the responsible agency and the People's Republic of China to prepare the master plan for the Silk Road Project, and proposing legislation and procedures aimed at creating a business-friendly economic zone. No substantial advancement has been recorded since then, until the Cabinet meeting held recently, in which the implementation of the project was reportedly tackled. The newspaper interviewed economists to assess the importance of the Northern Economic Zone and the feasibility of completing it by 2026 -- particularly given the recent momentum of reform in Kuwait. Experts emphasized that the launching of the project will be beneficial for the national economy in multiple dimensions, including job creation for newly graduated Kuwaiti youths. Its strategic location near Mubarak Port and the Iraqi-Iranian border was also highlighted as a factor that could significantly boost the long-term success of the zone, likening it to a modern economic free zone. Economists indicated that the government, under its current reform-focused approach, has demonstrated a genuine commitment to diversifying national income sources and addressing future budget deficits by pursuing ambitious development initiatives such as this one. Analyst and economic expert Sultan Al-Jazzaf believes that the Northern Economic Zone will serve the economy in several areas; specifically in terms of giving a significant role to the local private sector, as well as attracting foreign capital, reducing unemployment rates, and helping the State diversify sources of income, especially with expectations of a large deficit in the general budget of the country this year due to the price of a barrel of oil falling below the $68 projected in the budget. Al-Jazzaf pointed out that this is especially true given that the government estimated the price of a barrel of oil in the current budget at around $68, and considering that its price recently reached $64; this matter highlights the need to rely on sources of support for the economy and the budget other than oil. He praised all the efforts currently being exerted by the government to diversify sources of income, including the Northern Economic Zone project. He stated that the advantages of the zone include its proximity to Mubarak Port, as well as its proximity to the Iraqi and Iranian markets. He said this location will stimulate economic and trade activity with neighboring countries. He is hoping that this project will be implemented as soon as possible, especially since the government has proven, through its proposal, that it is thinking from an economic perspective. 'Economic zones, in general, create competitive clusters with the potential to achieve sustainable growth; as they offer many diverse options for good investment opportunities, in addition to their role in trade exchange through the presence of constant activity,' he added. Economic and real estate expert Qais Al-Ghanim confirmed that the idea of establishing the zone, recently announced by the government, has been delayed significantly. 'It should have been implemented in 2003, given its extreme importance to Mubarak Port; taking into consideration it will be a free zone, serving both Kuwait and Iraq, allowing Iraqis to enter the region without a visa -- similar to the region located between Syria and Jordan,' he elaborated. He pointed out that the zone will serve the Kuwaiti private sector; thereby, increasing sales for factories and commercial companies, indicating the zone will generate many jobs for young Kuwaiti graduates. Economic expert and former head of Kuwait Contracting Companies Union Dr. Salah Bouresli said the economic zone is a 100 percent sound idea, as it will enhance private sector activity by attracting a wide variety of investments, which will add new value to the State budget through fees. 'Furthermore, it is a major infrastructure project. Its role will not be limited to the economic aspect alone, as it will also create other social benefits, including employing young Kuwaitis and strengthening economic relations between Kuwait and its neighboring countries.' At the same time, he expressed hope that the government will expand green spaces in the zone to include entertainment and service cities, which will stimulate the contracting market, the engineering sector, and many other private sector projects. He believes this zone will lead to a tremendous boom for the Kuwaiti banking sector, which will finance small and large projects established in the zone. 'This is in addition to its importance for logistics and warehousing services, especially since this economic zone will enjoy attractive investment laws, considering it will attract more global investments, not just local ones. This is especially true given that global economic cities offer a variety of investments; provide integrated service, logistics and residential facilities; create a competitive business environment; increase government-private partnership projects; and offer major facilities that the government will provide to investors.
Kuwait Times
05-06-2025
- Business
- Kuwait Times
Gulf Bank, KFF raise awareness for fire prevention, safety
Group photo with fire officials after the awareness workshop. KUWAIT: As part of its ongoing commitment to promoting safety awareness, Gulf Bank recently organized a fire safety awareness workshop for its employees, in collaboration with the Kuwait Fire Force (KFF). The session was led by Major Mohammed Aseeri from the General Department of Public Relations and Media, who addressed several key topics related to safety procedures, emergency response strategies, and fire prevention methods in enclosed spaces. The workshop covered essential information about the most common causes of fires and how to prevent them. It also highlighted the proper actions to take in the event of a fire until emergency teams arrive on site. Emphasis was placed on the importance of quick and informed responses, as well as the correct use of safety equipment available on the premises. Major Mohammed Aseeri explains to bank employees about the causes of the fires. This initiative reflects Gulf Bank's ongoing commitment to maintaining a safe and healthy workplace, while enhancing employee awareness on how to respond effectively in emergency situations, in collaboration with official safety authorities. Towards the end of the session, Gulf Bank presented a commemorative plaque to the representatives of the Kuwait Fire Force, in recognition of their crucial role in protecting the community and their courageous efforts in safeguarding lives and property. Gulf Bank aims to be Kuwait's leading bank, fostering a diverse and inclusive workplace to deliver exceptional customer service while contributing sustainably to the community. Through its extensive branch network and innovative digital services, the Bank empowers customers to conduct banking transactions conveniently and efficiently, ensuring a seamless experience. In alignment with Kuwait Vision 2035, 'New Kuwait,' and its commitment to fostering collaborative partnerships, Gulf Bank is dedicated to driving robust sustainability initiatives across environmental, social, and governance (ESG) dimensions. The Bank is committed to implementing strategically selected and diverse sustainability programs both internally and externally.
Kuwait Times
03-06-2025
- Business
- Kuwait Times
Gulf Bank organizes cleanup campaign on Qaruh Island
KUWAIT: To mark World Turtle Day, Gulf Bank partnered with the Trashtag and Dive36 teams to organize an environmental cleanup campaign on Qaruh Island. The effort included the participation of the bank's divers and volunteers from 'Sawa'ed AlKhaleej,' working together to clean the island's waters and shores. This campaign highlights Gulf Bank's continued dedication to protecting the marine environment and promoting a culture of sustainability within the community. The bank consistently works to launch and support initiatives that safeguard natural resources and increase environmental awareness. For Gulf Bank, environmental protection goes beyond volunteer efforts — it's a fundamental part of its corporate and social responsibility. The campaign also reinforces Gulf Bank's active role in supporting both national and global efforts to tackle environmental challenges such as marine pollution, climate change, and biodiversity loss. The Bank remains committed to embedding sustainability into its daily operations — from reducing resource consumption and advancing digital transformation to limit paper use, to backing environmental initiatives that engage and benefit the wider community. Gulf Bank firmly believes that collaboration and environmental responsibility are essential to shaping a sustainable future. Initiatives like this serve as a powerful reminder that meaningful change starts with a single step, and that each person and organization has a part to play in creating a cleaner, more balanced world. Gulf Bank divers carry the underwater flag. The Bank extends its sincere appreciation to all the divers and employee volunteers who played a vital role in the success of this campaign, reaffirming its unwavering commitment to advancing environmental sustainability across Kuwait and beyond. Gulf Bank aims to be Kuwait's leading bank, fostering a diverse and inclusive workplace to deliver exceptional customer service while contributing sustainably to the community. Through its extensive branch network and innovative digital services, the Bank empowers customers to conduct banking transactions conveniently and efficiently, ensuring a seamless experience. In alignment with Kuwait Vision 2035, 'New Kuwait,' and its commitment to fostering collaborative partnerships, Gulf Bank is dedicated to driving robust sustainability initiatives across environmental, social, and governance (ESG) dimensions. The Bank is committed to implementing strategically selected and diverse sustainability programs both internally and externally.
Kuwait Times
27-05-2025
- Business
- Kuwait Times
Gulf Bank partners with LOYAC to Bring Joy to underprivileged kids
KUWAIT: As Eid Al-Adha approaches, Gulf Bank, in partnership with LOYAC, launched a meaningful humanitarian initiative to bring joy to children from underprivileged families. Gulf Bank employees visited City Hypermarket to purchase clothes and toys for nearly 60 children, bringing smiles and a sense of celebration to both the children and their families. As part of its continued commitment to corporate social responsibility, Gulf Bank's 'Sawa'ed Al-Khaleej' volunteering team took part in the initiative, joining the children during their shopping experience and assisting them in choosing clothes and toys they loved – all in a joyful, compassionate, and engaging atmosphere. This initiative is part of a broader series of activities that Gulf Bank carries out annually under its social sustainability program. The Bank remains steadfast in its belief in the importance of human solidarity, especially during religious and social occasions that present an opportunity to renew the spirit of giving and kindness within the community. Buying Eid clothes for a child. Sawaaed Al-Khaleej team helps children choose their clothes. Gulf Bank's team emphasized that their role goes well beyond providing banking services. 'It was incredibly rewarding to see the children select items that brought genuine joy to their faces,' they shared. 'For more than sixty years, Gulf Bank has been an integral part of Kuwait's economic and social fabric, consistently dedicated to supporting those in need and giving back to the community.' The team also reaffirmed the Bank's strong commitment to sustainability by implementing carefully chosen initiatives that benefit both the Bank and the wider community. These efforts align with the United Nations Sustainable Development Goals and Kuwait Vision 2035. Gulf Bank is committed to being a responsible corporate citizen by empowering the community and making a meaningful impact through initiatives that foster joy, hope, and respect for everyone. Gulf Bank aims to be Kuwait's leading bank, fostering a diverse and inclusive workplace to deliver exceptional customer service while contributing sustainably to the community. Through its extensive branch network and innovative digital services, the Bank empowers customers to conduct banking transactions conveniently and efficiently, ensuring a seamless experience. In alignment with Kuwait Vision 2035, "New Kuwait," and its commitment to fostering collaborative partnerships, Gulf Bank is dedicated to driving robust sustainability initiatives across environmental, social, and governance (ESG) dimensions. The Bank is committed to implementing strategically selected and diverse sustainability programs both internally and externally.
