KUWAIT: KIA is currently considering moving the private property department at London investment office to Kuwait, where KIA would be responsible for managing all investment funds directly. Notably, investments less than $1 billion were usually managed by the London office, while larger investments had to be run by the KIA office in Kuwait.

PAAET teaching staff

The PAAET teaching staff syndicate hailed efforts exerted by Director Ali Al-Mudhaf in ending the problem of delays in the payment of their overtime dues. Syndicate Chairman Sulaiman Al-Sowaitt said dues of 2016-2017's first semester had been sent to bank accounts and stressed that procedures to pay the second semester dues are underway.

Canceling subsidies

MoCI rejected the food and nutrition authority's demand to cancel subsidies on some food items on grounds that subsidizing such items helps control their prices and keeps inflation at certain levels. Notably, the food and nutrition authority had urged MoCI to gradually cancel subsidizing some supply goods such as sugar - for health reasons - noting that gradual reduction of the 2-kg monthly sugar rations per citizen, except for children below two years old, will help reduce sugar intake. However, informed sources said MoCI rejected the proposal after studying it out of fear of possible negative impacts, such as unjustified price increases in local markets.

Excellent incentives

Deputy PM and FM Sheikh Sabah Al-Khaled Al-Sabah said the total sums paid as excellent performance incentives to non-Kuwaiti employees in the period from Jan 2013 until March 22, 2018 is KD 325,000, in addition to KD 10,000 in overtime and KD 767,000 for official missions. Responding to an inquiry by MP Hamdan Al-Azmi concerning non-Kuwait employees working for the ministry and its subsidiary bodies, Sheikh Sabah Al-Khaled said the total number of non-Kuwaiti employees at the Kuwait Fund for Arab Economic Development is only 53, receiving a total of KD 80,000 in salaries. Meanwhile, the public authority for the disabled completed listing employees deserving the excellent performance bonus for the previous fiscal year and sent it to the finance ministry for approval. The authority added that around 1,000 employees deserve the bonus - a total of KD 800,000 to KD 1,000,000.

By A Saleh