Page 7 - Al-Rashed Newsletter July 2021

KUWAIT & IRAQ
KUWAIT NEWS

Unvaccinated expats will not be allowed to enter Kuwait
Expatriates, unable to get the jab against COVID-19 for health reasons,
will not be allowed to enter Kuwait, an airport source has said, as the
country is set to lift a ban in place since February on non-Kuwaitis’
entry.
However, foreign children under the age of 16 will be allowed into
Kuwait starting August 1 on condition they are escorted by their parents
who have received two doses of the vaccine, the source at the Kuwaiti
International Airport told Al Qabas newspaper. In recent months, Kuwait
has tightened travel measures to limit the spread of coronavirus,
including suspending flights with several countries.
Kuwait has recently seen a steep drop in virus infection rates. Expats
who have completed vaccination with vaccines approved in Kuwait (two
doses of Pfizer-BioNTech, AstraZeneca, Moderna and one dose of
Johnson & Johnson)

World’s Oldest Wealth Fund Swells to Record and Cracks the Top 3
Kuwait Investment Authority likely broke into the world’s top three
sovereign wealth funds by assets.
The Future Generations Fund, managed by the authority known as KIA,
has risen to a record of about $700 billion, according to a person with
knowledge of the matter. The fund, a national savings pot designed to
help the country prepare for life after oil, has more than half of its
investments in the U.S., where equity markets have been on a tear. The
benchmark S&P 500 Index surged more than 8% last quarter, its fifth
consecutive three-monthly gain, while the MSCI World Index gained
more than 7%. KIA, the world’s oldest sovereign wealth fund whose
roots predate the birth of the modern state of Kuwait

IRAQ NEWS

Iraq extends oil supply deal with Jordan -statement
Iraq has extended an oil agreement with Jordan for another year to
“GET BUSY LIVING OR supply it with 10,000 barrels per day (bpd) of crude oil under preferential
terms, the Iraqi oil ministry said on Thursday.
GET BUSY DYING."-
The announcement came after a meeting on Thursday between Iraqi Oil
STEPHEN KING Minister Ihsan Abdul Jabbar and his Jordanian counterpart Hala Zawati
in Baghdad, the ministry said in a statement.

BP Considers Spinning Off Iraq Operations
BP PLC is working on a plan to spin off its operations in Iraq into a
stand-alone company, as the oil giant shuffles its assets and investment
plans in its pivot toward lower-carbon energy. The new company would
hold BP’s interest in Iraq’s giant Rumaila oil field—one of the world’s Source: KuwaitTImes.com, Arabtimes.com, Gulfnews.com. Reuters, WSJ
largest—and be jointly owned by China National Petroleum Corp., one of
the British company’s partners at the site