Year In Review

What A Year

Kuwait, like its GCC neighbors, is attempting to reverse engineer its way out of the age-old dilemma of having just one basket and far too many eggs. For your average Kuwaiti, this means cuts to subsidies and the introduction of VAT.

Review

A Voice To Hear

Kuwait revealed its deft diplomatic hand by shoring up Egypt's Sisi, reining in whilst re-enfranchising its local branch of the Brotherhood, and resisting further Gulf calls for unification without ruffling any of its neighbors' feathers.

Column

Abdulwahab A. Al-Bader, Director General, Kuwait Fund for Arab Economic Development (KFAED)

TBY talks to Abdulwahab A. Al-Bader, Director General, Kuwait Fund for Arab Economic Development (KFAED) on the sector.

Guest Speaker

Dato’ Sri Haji Mohammad Najib bin Tun Haji Abdul Razak, Prime Minister , Malaysia

TBY talks to Dato' Sri Haji Mohammad Najib bin Tun Haji Abdul Razak, Prime Minister of Malaysia, on the growing contribution that Islamic countries are making to the global economy and how Islamic financing can offer new opportunities to industry and academia.

Guest Speaker

Maithripala Sirisena, President , Sri Lanka

TBY talks to Maithripala Sirisena, President of Sri Lanka, on the strong ties that bind Kuwait and Sri Lanka.

Guest Speaker

Jens Stoltenberg, Secretary-General , NATO

TBY talks to Jens Stoltenberg, Secretary-General of NATO, on the ICI-NATO Regional Centre and the role it will play in strengthening the relationship for a stable future.

B2B

European Partners

New paths are opening up between Eastern Europe and the region, bringing with them diverse opportunities for both sides.

Focus: International trade

Eastern Promises

In light of stagnating oil prices, Kuwait has strengthened its trade ties in the Eastern hemisphere, notably with Malaysia and Japan, to help boost the country's infrastructure sector.

B2B

Development Assistance

Offering valuable external opinions, these institutions want Kuwait to make progress with the implementation of PPPs, forming partnerships to build a better future.

Review

Grasping The Nettle

While hydrocarbons have been channeled effectively to national development, today's realities will require a rethink on putting too many eggs in one basket.

Column

Alex Saleh, Partner & Head of Office, Al Tamimi & Company

TBY talks to , Alex Saleh Partner & Head of Office, Al Tamimi & Company, on the sector.

Column

Dr. Bader Othman Malallah, Director General, Arab Planning Institute

TBY talks to Dr. Bader Othman Malallah, Director General, Arab Planning Institute, on the sector.

Interview

HE Khaled Nasser Abdullah Al-Roudan, Minister, Commerce and Industry (MoCI)

TBY talks to HE Khaled Nasser Abdullah Al-Roudan, Minister of Commerce and Industry (MoCI), on tools and strategies for diversifying the economy, the role of international players in supporting a wider range of sectors, and the rapidly developing food industry.

Focus: The 2017-2018 development plan

A Master Plan

Under the umbrella of Kuwait's Vision 2035, the 2017-2018 development plan's multiple policy initiatives bring Kuwait one step closer to becoming a regional hub for finance and investment.<br>

Interview

HE Yousef Al-Ebraheem, Advisor , Al-Diwan Al-Amiri

TBY talks to HE Yousef Al-Ebraheem, Economic Advisor to the Al-Diwan Al-Amiri, on the need for a rejuvenation of Kuwait's infrastructure to support an economy that has come a long way and the role education will play in delivering the expertise required by the society.

Interview

Dr. Khaled A. Mahdi, Secretary-General , Supreme Council for Planning & Development (GSSCPD)

TBY talks to Dr. Khaled A. Mahdi, Secretary General of the Supreme Council for Planning &amp; Development (GSSCPD), on the breakdown of Kuwait's long-term economic plan, the KPIs that will benchmark its success, and what Vision 2035 means for the nature of the economy.

Interview

Sheikh Dr. Meshaal Jaber Al Ahmed Al Sabah, Director General, Kuwait Direct Investment Promotion Authority (KDIPA)

TBY talks to Sheikh Dr. Meshaal Jaber Al Ahmed Al Sabah, Director General of the Kuwait Direct Investment Promotion Authority (KDIPA), on launching an investment promotion conference, attracting the right partners for PPP, and expectations for the year ahead.

Interview

HE Dr. Mohammad M. Al-Zuhair, Executive Chairman, Kuwait National Fund for Small and Medium Enterprise Development

TBY talks to HE Dr. Mohammad M. Al-Zuhair, Executive Chairman of the Kuwait National Fund for Small and Medium Enterprise Development, on empowering young Kuwaitis, IT and entrepreneurialism, and the growth of fintech.

B2B

Business Councils

Councils not only provide a business-to-business environment, but are increasingly bringing in skills and programs to help the Kuwaiti economy meets its targets.

Interview

Fawaz Al-Issa, Vice-Chairman & CEO, Turkapital Holding

TBY talks to Fawaz Al-Issa, Vice-Chairman &amp; CEO of Turkapital Holding, on the road to exits, the role of Islamic finance, and maintaining a firm footing amid a changing landscape.

Focus: Still all in the family?

Merchant families in Kuwait

Family-owned businesses play a major role in the Kuwaiti economy. However, with many approaching the third generation of management, they are starting to come across unique problems that may pose issues for the greater economy.

Forum

Why Kuwait?

Kuwait is host to a wide range of foreign investors across a number of sectors, all using Kuwait as a stable base of operations for the region.

Review

Sunny Side Up

With GCC countries pushing for alternative energy sources to reduce their dependence on oil, the recent opening of Kuwait's first solar power plant marks a milestone in the country's diversification of energy resources.

Interview

HE Sheikh Abdullah Ahmad Al-Humoud Al-Sabah, Director, Environmental Public Authority (EPA)

TBY talks to HE Sheikh Abdullah Ahmad Al-Humoud Al-Sabah, Director of Environmental Public Authority (EPA), on how oil companies can contribute to Kuwait's vision on sustainability and the various projects that are coming to fruition.

Interview

Dr. Samira S. Omar Asem, Director General, Kuwait Institute for Scientific Research (KISR)

TBY talks to Dr. Samira S. Omar Asem, Director General of the Kuwait Institute for Scientific Research (KISR), on commercializing the green innovations coming from R&amp;D initiatives, the role of collaboration across multiple sectors, and projects that we should expect to see more of in the future.

Review: Banking

Credit Where Credit’s Due

Kuwait's well-disciplined and liquid banking system can only benefit from a gradually diversifying economy fueled by prospective state infrastructure commitments.

Column

Elham Yousry Mahfouz, CEO, Commercial Bank of Kuwait (CBK)

TBY talks to Elham Yousry Mahfouz, CEO, Commercial Bank of Kuwait (CBK) on the sector.

Column

Abdulla Khaled Al-Ajmi, CEO, Shared Electronic Banking Services Company (KNET)

TBY talks to Abdulla Khaled Al-Ajmi, CEO, Shared Electronic Banking Services Company (KNET) on the sector.

Interview

Sheikh Mohammed Al-Jarrah Al-Sabah,, Chairman, Kuwait International Bank (KIB)

TBY talks to Sheikh Mohammed Al-Jarrah Al-Sabah, Chairman of Kuwait International Bank (KIB), on being named Best Islamic Bank in the GCC, new products and services, and human resources.

Interview

Mazin Saad Al-Nahedh, Group CEO , Kuwait Finance House (KFH)

TBY talks to Mazin Saad Al-Nahedh, Group CEO of Kuwait Finance House (KFH), on promoting ethical finance, the growth of the sukuk market, and how demand for those products is building momentum.

Focus: Sukuk

My Word Is My Bond

In 2017, Kuwait saw its first sukuk issuance in two decades following regulatory changes back in 2015 aimed at stimulating the sector.

Forum

International Banks

There are varied benefits to having operations that go beyond the borders of Kuwait, providing clients a broader basket of services.

Review: Capital Markets

Leading by Example

Kuwait's dynamic capital markets are a byword of the economic diversification and competitive performance the country pursues.

Interview

Khaled Abdulrazzaq Al Khaled, Vice-Chairman and CEO, Boursa Kuwait Company

TBY talks to Khaled Abdulrazzaq Al Khaled, Vice-Chairman and CEO of Boursa Kuwait Company, on the takeover of the Kuwait Stock Exchange and the role the bourse plays in both the privatization of government entities and as a source of capital for family businesses.

Interview

Faisal M. Sarkhou, CEO, KAMCO Investment Company

TBY talks to Faisal M. Sarkhou, CEO of KAMCO Investment Company, on raising money, the role of debt markets in the region, and expectations for the year.

Focus: Blue-chip stocks

Behind Blue Chips

In a tumultuous year on Kuwait's trading floors, blue-chip stocks emerged as stable investments despite a liquidity crunch that laid bare the structural reforms needed to maintain high liquidity levels.

Vox Populi

Investment Companies

The significance of the financial sector is set to grow, with efforts to boost its role coming to center stage.

Review: Insurance

Oversight Spells Underwriting

Kuwait's crowded insurance sector has been calling for an independent regulator, and it faces a raft of challenges that may yet be somewhat mitigated by state projects.

Column

Tareq A. Wahab Al Sahhaf, CEO, Gulf Insurance & Reinsurance Company (GIRI)

TBY talks to Tareq A. Wahab Al Sahhaf, CEO, Gulf Insurance &amp; Reinsurance Company (GIRI), on the sector.

B2B

Takaful

Kuwait's insurance sector, and the sharia-compliant takaful landscape, is highly competitive, with sector insiders calling for better regulation.

Interview

Dawoud S. Al Duwaisan, CEO, Kuwait Reinsurance Co. (Kuwait Re)

TBY talks to Dawoud S. Al Duwaisan, CEO of Kuwait Reinsurance Co. (Kuwait Re), on the company's expansion, the sector's regulation, and market expectations.

Review

Energizing Change

Despite the low oil price environment, expansion and investment continues in the oil and gas industry as part of the government's longer-term plan. For now, however, Kuwait is complying with a recent OPEC supply cut agreement.

Interview

HE Essam Abdul Mohsen Al-Marzouq, Minister, Oil & Minister of Electricity and Water

TBY talks to HE Essam Abdul Mohsen Al-Marzouq, Minister of Oil &amp; Minister of Electricity and Water, on cooperation with other ministries, the private sector's role in energy, and upcoming regulations.

Interview

Jamal Abdul Aziz Jafaar, CEO, Kuwait Oil Company (KOC)

TBY talks to Jamal Abdul Aziz Jafaar, CEO of Kuwait Oil Company (KOC), on recent achievements, new projects, and the company's efforts at innovation.

Interview

Abdulnaser Y. Alfulaij, CEO, Kuwait Gulf Oil Company (KGOC)

TBY talks to Abdulnaser Y. Alfulaij, CEO of Kuwait Gulf Oil Company (KGOC), on the Al-Khafji JV with Saudi Aramco, the private-public sharing model, and human resources.

Forum

Petroleum Services

While the government is seeking to have oil play a less prominent role in the country's economy, the industry is set to remain strong, maintaining the importance of petroleum services.

Interview

Mick Stephen, Country Manager Kuwait, Novomet

Novomet is an established name in the realm of oil, and these men are at the helm of the company's expansion and innovation.

Focus: Ministry of Electricity & Water

A New Mix

Since being appointed to his ministerial roles in late 2012, HE Essam Abdul Mohsen Al-Marzouq has been laying the groundwork for the private sector to take a greater role in Kuwait.

Column

Andy Biffen, CEO, Shamal Azzour Al-Oula

TBY talks to Andy Biffen, CEO, Shamal Azzour Al-Oula, on the sector.

B2B

Oilfield Services

With OPEC cuts and a reconstruction of the national economy, oilfield companies are finding the best ways to adapt.

Review

Thick & Thin

Unfazed by fickle oil prices, Kuwait is looking forward to a 2017 full of growth possibilities and alternatives in various industrial segments.

Column

Hasan Al Hasawi, President , Al Hasawi Group

TBY talks to Hasan Al Hasawi, President, Al Hasawi Group on the sector.

Column

Nader H. Sultan, Chairman, Ikarus Petroleum Industries

TBY talks to Nader H. Sultan, Chairman, Ikarus Petroleum Industries on the sector.

Interview

Mohammad Boushehri, Undersecretary of Ministry, Electricity & Water

TBY talks to Mohammad Boushehri, Undersecretary of Ministry of Electricity &amp; Water, on introducing PPPs, price regimes, and increasing renewables.

Interview

Abdulkarim Taqi, General Manager, Public Authority for Industry (PAI)

TBY talks to Abdulkarim Taqi, General Manager of Public Authority for Industry (PAI), on attracting capital, boosting GDP, and empowering the local workforce.

Focus: Clean Fuels Project

Back to Life, Back to Reality

Kuwait is embarking on a project to revolutionize its hydrocarbon industry, once again. New projects are garnering a massive amount of investment and ensure the country will remain competitive in the industry.

B2B

Petrochemicals

Kuwait is a not only a major oil producer, but the country also has a strong petrochemical sector, with companies performing well locally and expanding their business.

Focus: Automotive industry

Two-lane blacktop

With an ever-increasing number of cars in Kuwait, the country's burgeoning automotive segment is entrenched by both an affluent consumer base as well as established partnerships between MNCs and Kuwaiti family holdings.

Column

Saleh A. Al-Babtain, Group CEO , Al-Babtain Group

TBY talks to Saleh A. Al-Babtain, Group CEO, Al-Babtain Group, on the sector.

Interview

Bakheet S. Al-Rashidi, CEO, Kuwait Petroleum International (Q8)

TBY talks to Bakheet S. Al-Rashidi, CEO of Kuwait Petroleum International (Q8), on the development of the refining industry and the importance of R&amp;D.

Review

Built to Last

Massive investments across several sectors, in particular infrastructure, energy, and healthcare, will continue to drive construction activity in Kuwait.

Interview

Ghalib Shlash Safouq, Assistant Undersecretary for the Construction Projects Sector, Ministry of Public Works

TBY talks to Ghalib Shlash Safouq, Assistant Undersecretary for the Construction Projects Sector at the Ministry of Public Works, on Kuwaiti companies, the country's healthcare facilities, and the role of international companies.

Interview

Ghosson Ghassan Al-Khaled, Deputy CEO, ACICO Group

TBY talks to Ghosson Ghassan Al-Khaled, Deputy CEO of ACICO Group, on striving for synergy across the group and the firm's approach to expansion.

Interview

Mutlaq Mubarak Al-Sanei, General Manager, Kuwait Authority for Partnership Projects (KAPP)

TBY talks to Mutlaq Mubarak Al-Sanei, General Manager of Kuwait Authority for Partnership Projects (KAPP), on investors, current projects, and prospects for the year ahead.

Forum

Architecture and Design

Kuwait's rich architectural and design history is being preserved today by firms with a strong work ethic and the utmost attention to detail.

B2B

Infrastructure Constructors

With the government embarking on a strong infrastructural development agenda, there are many projects in the pipeline up for grabs for constructors.

Focus: Sheikh Jaber Al-Ahmad Al-Sabah Causeway Project

Crossing the Bridge

Due to be completed in 2018, the Sheikh Jaber Al-Ahmad Causeway Project is the government's flagship project to transform Kuwait into a regional transportation hub.

Review

The Means & the Message

Kuwait's ICT sector has diverse economic opportunities for adoption, while data-providing online capacities, too, enjoy wide public uptake.

Column

Mohamed AbouKhalid, General Manager, Al-Khat Printing Press

TBY talks to Mohamed AbouKhalid, General Manager, Al-Khat Printing Press on the sector.

Interview

Tawfiq Ahmed Bin Sultan, Chairman, Middle East Telecommunications Company (METCO)

TBY talks to Tawfiq Ahmed Bin Sultan, Chairman of the Middle East Telecommunications Company (METCO), on e-government potential, the future of the economy, and the state of technology uptake in Kuwait.

Vox Populi

Telecoms

Telcoms firms have to contend with rapid advances in technology and ever-growing appetite for services.

Focus: Digital Government

Government Gone .gov

Kuwait is on track to meet its development plan's priority target of a digital transformation of government services through the provision of centralized platforms for e-government services and intra-governmental communication.

B2B

IT services

The rapid development of technology necessitates targeted IT services for specific functions.

Review

Making Kuwait Great

As Kuwait finalizes its long-term development goals, transportation infrastructure has been a key area of concern, attracting multiple large-scale initiatives aimed at expanding key travel channels and developing new routes.

Interview

Sheikh Yousef Abdullah Sabah Al-Nasser Al-Sabah, Director General, Kuwait Ports Authority (KPA)

TBY talks to Sheikh Yousef Abdullah Sabah Al-Nasser Al-Sabah, Director General of Kuwait Ports Authority (KPA), on his operational plans for the near future and turning Kuwait into a regional logistics hub.

Interview

Bader Nasser Al-Khashti, Chairman, Kuwait Oil Tanker Company (KOTC)

TBY talks to Bader Nasser Al-Khashti, Chairman of Kuwait Oil Tanker Company (KOTC), on its fleet expansion, environmental concerns over the industry, and his future goals for the company.

Interview

Ali Dashti, Vice-Chairman & CEO, KGL Logistics

TBY talks to Ali Dashti, Vice-Chairman &amp; CEO of KGL Logistics, on trends in the regional market, primary industries, and the ports landscape.

B2B

Shipping

There are still opportunities for companies in the shipping and logistics sectors despite challenging times and stiff global competition.

Focus: Expansion of ports

Small Ports

With an ever-increasing number of imported goods, Kuwait's ports are currently expanding, becoming more integrated and less congested.

B2B

Regional Airlines

With air travel expected to increase in the near future, airlines target new destinations and services for travellers.

Review

Fuel and Food

Concerns about food security and the cost of Kuwait's food import bill are inspiring some innovative solutions from the agriculture and food sectors.

Interview

Fares Hammami, Global CFO, Mezzan Holding

TBY talks to Fares Hammami, Group CFO of Mezzan Holding, on its successes after its IPO, expanding into Saudi Arabia, and evolving food trends.

Focus: Domestic food supply

Is it meat you’re looking for?

As one of the world's biggest consumers of meat, Kuwait is under pressure to diversify its sources of livestock and to establish domestic farms.

B2B

Food Security

Kuwait is taking preventative measures to tackle future food and water shortages and safeguard its food security.

Review: Health

Booster Shot

Kuwait is in the midst of a total health sector overhaul. The government is looking for ways to save money on its extensive healthcare program and to promote the quality of care available in the country.

Column

Abdullah Al Askari, Managing Director, CClub

TBY talks to Abdullah Al Askari, Managing Director, CClub on the sector.

B2B

Private Healthcare

With top-quality specialties and high-end facilities, private medical centers in Kuwait see growing demand for their services.

Focus: Expatriate-exclusive healthcare

Take Cover

In view of the public health segment's overworking, the government launched a private healthcare scheme for its economy's “expatriate backbone."

Vox Populi

Healthcare Services

Various branches of the healthcare sector have different areas of focus to work on in the coming year.

Review: Education

Expanding The Horizons

Despite declines in government expenditures across a number of areas, education remains a key priority for the Kuwaiti government.

Column

Russell Byrne, Co-founder & CEO, Education Consortium (EC)

TBY talks to Russell Byrne, Co-founder &amp; CEO, Education Consortium (EC) on the sector.

Column

David Botbyl, Superintendent, American International School (AIS)

TBY talks to David Botbyl, Superintendent, American International School (AIS) on the sector.

Interview

HE Khaled Nasser Abdullah Al-Roudan, Acting Minister, State for Youth Affairs

TBY talks to HE Khaled Nasser Abdullah Al-Roudan, Acting Minister of State for Youth Affairs, on e-platforms and blended learning programs, developing ICT skills, and preparing young people for tomorrow.

Focus: Youth empowerment

Power to the (young) people

With the private sector poised to take on a greater role in the Kuwaiti economy, the country is working to instill a sense of ambition and entrepreneurship in its youth to steer it away from careers in public service.

B2B

Universities

Attracting students, collaboration with the private sector, and global partnerships are just some of the key initiatives of top universities in Kuwait.

Review

Traveling Through Paradise

With a beautiful location and growing infrastructure, Kuwait is well on its way to becoming one of the most popular Gulf states, enticing tourists from across the world and the region.

Interview

Eng. Ali Hussein Al Youha, Secretary-General, National Council for Culture, Arts and Letters

TBY talks to Eng. Ali Hussein Al Youha, Secretary-General of the National Council for Culture, Arts and Letters, on the activities of the Council and works to preserve and enhance Kuwait's cultural heritage.

Focus: Sheikh Jaber Al-Ahmad Cultural Centre

A Bit of Shine

The Sheikh Jaber Al-Ahmad Cultural Centre is poised to cash in on the country's rich cultural history by offering a space for a wide range of the arts.

B2B

Exhibition Centers

Kuwait's rich heritage is being presented in new and innovate ways to draw in both locals and tourists.

Interview

Shukri Salman, General Manager, Costa del Sol

TBY talks to Shukri Salman, General Manager of Costa del Sol, on the facilities' unique offerings, potential in the Kuwaiti tourism sector, and ambitions for the year ahead.

Review: DOING BUSINESS

THE TIME IS NOW

The Gulf has a strong attraction for foreign investors wanting a solid base of operations for Middle Eastern endeavours, and Kuwait has worked hard to make itself stand out.