Abdullah Al-Yahya, Minister of Foreign Affairs, received a message from his Irani counterpart, Dr. Abbas Araghchi on bilateral ties recent international and regional developments. The message was conveyed to the Minister during the visit of Mohammed Toutounchi, Iranian Ambassador to the State of Kuwait, to the Ministry.
Author: Mohamad Rachidi
Nora Al-Fassam, Minister of Finance, said Kuwait is continuously updating its legal framework to more effectively tackle money laundering and terrorism financing. The Minister’s remarks follow the cabinet’s recent decision to ratify legislation aimed at combatting the two financial crimes. The revised laws also expand the powers of a specialized committee tasked with combating these crimes, enabling it to now operate independently. Minister Al-Fassam noted that the changes include imposing significant penalties on offenders and designating local individuals and entities as terrorists, in line with Kuwait’s international obligations to curb financial crime. The Minister lauded the ratifications, saying it reflects…
Kuwait’s crude oil exports to Japan decreased by 22.2% in May compared to the same month last year. Exports reached 4.23 million barrels, or 137,000 bpd, marking the second consecutive monthly decline. Japan is the world’s third-largest oil consumer. According to a report by Japan’s Agency for Natural Resources and Energy, overall crude oil imports increased in May for the first time in two months, at 13.9% year-on-year to 2.40 million bpd. Though the Middle East accounted for 90.5% of the total, imports were down 4.8% in May from a year earlier. Kuwait ranked as Japan’s fourth-largest crude oil supplier…
Kazuo Ueda, Governor of the Bank of Japan, said interest rates will not aggressively increase unless the economy shows marked signs of improvement and stability. Kazuo stressed that as long as economic conditions do not support a rate hike, the bank monetary policy will remain flexible and rates will not spike to make room for monetary easing. In May, the Bank of Japan decided to keep short-term interest rates at around 0.05%, lowering its growth and inflation forecasts for 2025. Speaking at a parliamentary session, Kazuo added that economic uncertainty remains high due to U.S. tariffs. He said global uncertainties…
The 4th annual Eurasian Economic Forum recently wrapped up in Minsk, Belarus. The two-day event hosted over 2,700 people from more than 30 countries. The forum has become a focal point for discussions on global economic cooperation and development, and meets annual to highlight ways to boost cooperation among the Eurasian Economic Union (EAEU). The event brought together leaders, policymakers, and experts from various countries to explore opportunities for economic growth and integration. The forum serves as a platform for dialogue on trade, investment, and technological innovation, aiming to strengthen economic ties across regions.
U.S. President Donald Trump said he would leverage the economic strength of the United States against Canada if certain trade demands are not met, claiming Canada was economically dependent on Washington. The remarks follow President Trumps decision to end trade negation between the two neighbors. Trump’s reaction raises concerns about potential disruptions in bilateral relations and trade cooperation. The U.S. President emphasized that the Washington could impose measures that would significantly impact Canada’s economy, though specific details were not provided. He also called Canada a difficult country to deal with and criticized the Canadian government, saying it was copying Europe…
The Egyptian government and the Organization for Economic Cooperation and Development (OECD) released a joint report on entrepreneurship and small and medium-sized enterprise (SME) policies in Egypt. Minister for Planning and International Cooperation, Dr. Rania Al-Mashat said the report provides an analytical perspective on the opportunities and challenges within Egypt’s SME and entrepreneurship sector. One of the report’s key suggestions highlighted the need to develop a comprehensive database on start ups and their performance. SMEs make up more than 90% of economic activity in the country. The government said Cairo will use the report to update its national strategy.
China’s Ministry of Commerce emphasized the importance of strengthening the economic and trade consultation mechanism with the United States, to promote sustainable development of bilateral relations. According to a statement from the ministry’s spokesperson, economic and trade teams from both sides held talks in London earlier this month, following the consensus reached between Chinese President Xi Jinping and U.S. President Donald Trump. The statement said the two countries reached a preliminary agreement on the implementation framework of the Geneva deal. China will consider export applications for controlled materials that meet regulatory standards in accordance with the law. For its part,…
Young Canadian workers are facing a worsening labor market, with the unemployment rate among 15 to 24 year-olds jumping 3.6% in two years. The unemployment rate for the demographic now stands at 13.4%, making them twice as likely to be unemployed than any other age group in the country. The rate of unemployment is the sharpest rise in the Organization of Economic Co-operation and Development’s 25 largest economies—surpassing the US, UK, and Australia.
During an official visit to Malaysia, Kyrgyzstan’s President Sadyr Zhaparov met with Malaysian Prime Minister Datuk Seri Anwar Ibrahim. The leaders pledged to enhance cooperation in various sectors, including the establishment of relevant facilities and services. Anwar emphasized the potential for collaboration in constructing and improving financial systems during a joint press conference. The Malaysian Prime Minister added his country was keen to explore and benefit from Kyrgyzstan’s significant capacity in hydroelectric power, which accounts for almost 90% of its energy production. The two Asian nations also agreed to strengthen collaboration in education and research, and expand the socio-economic potential…
