Latest news with #SheikhSaoud
Zawya
9 hours ago
- Politics
- Zawya
Qatar's cabinet nod to law on volunteering in GCC
Doha, Qatar: Deputy Prime Minister and Minister of State for Defense Affairs HE Sheikh Saoud bin Abdulrahman bin Hassan Al-Thani chaired the Cabinet's regular meeting held on Wednesday at the Amiri Diwan. Following the meeting, Minister of Justice and Minister of State for Cabinet Affairs HE Ibrahim bin Ali Al Mohannadi stated the following: The Cabinet reviewed the topics on its agenda. It approved - in principle - a draft law issuing a unified system (law) for volunteering work in the Gulf Cooperation Council countries, and a draft of its executive regulations. The two drafts' preparation comes within the framework of the Ministry of Social Development and Family's strategy, which aims to enhance social responsibility, spread the culture of volunteering in society, organize volunteering work, ensure its practice with freedom and choice, preserve the rights of volunteers and volunteering organizations, and define the duties of each of them. The Cabinet also approved the draft Cabinet Decision to add a member to the Steering Committee of the Qatar Internet Exchange Point project, established by Decision No. (24) of 2018. Prepared by the Communications Regulatory Authority, this draft aims to connect financial institutions subject to the supervision of the Qatar Central Bank to the Internet Exchange Point, in a way that ensures business continuity in the financial sector and supports its vital requirements. The Cabinet approved a draft agreement between the Government of the State of Qatar and the United Nations Institute for Training and Research (UNITAR) regarding the establishment and financing of a regional office for UNITAR in the State of Qatar; a draft core contribution agreement between the Qatar Fund for Development of the State of Qatar and the United Nations World Food Program for multilateral funding for the years 2025-2026; a draft letter of intent between the Ministry of Foreign Affairs of the State of Qatar and the Federal Department of Foreign Affairs of the Swiss Confederation in the field of mediation and facilitation; a draft memorandum of understanding in the field of Islamic jurisprudence and Islamic affairs between the Ministry of Endowments and Islamic Affairs of the State of Qatar and the International Islamic Fiqh Academy of the Organization of Islamic Cooperation; and a draft air services agreement between the Government of the State of Qatar and the Government of the Republic of Nauru. The Cabinet concluded the weekly meeting by reviewing a report on the outcomes of the participation of Qatar's delegation, headed by HE the Minister of Endowments and Islamic Affairs, in the 16th International Economic Forum "Russia-Islamic World: Kazan Forum' (Republic of Tatarstan - May 2025), regarding which it took the appropriate decision. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Reuters
21-05-2025
- Business
- Reuters
Kuwait sovereign wealth fund head says investors reduce US exposure at their 'own risk'
DOHA, May 21 (Reuters) - The head of the Kuwait Investment Authority (KIA), which manages almost $1 trillion in assets, said the sovereign wealth fund is committed to investing in the U.S. and that investors cut allocations to U.S. assets at their own risk. Some global investors have ditched U.S. assets in recent weeks on fears that U.S. President Donald Trump's overhaul of global trade may hurt the U.S. economy, and could cause deeper long-term damage. The trend looks set to continue given a record number of managers said they planed to keep cutting their exposure to U.S. assets, according to BofA research. Oil-rich Kuwait has been investing in the U.S. market for a "long time" and that "won't change", KIA Managing Director Sheikh Saoud Salem Abdulaziz Al-Sabah said at an investment conference in the Qatari capital on Wednesday. "I would say it very bluntly, underweight America at your own risk," he said. Last week, Moody's downgraded the U.S. sovereign credit rating by one notch citing concerns about the nation's growing $36 trillion debt pile, which could make investors more cautious and drive up borrowing costs across the economy. "They (investors) are merely looking at equity markets, but they're not taking into fact the U.S. has the largest fixed income market, the U.S. has the largest private equity market, the real estate market, infrastructure and credit," Al-Sabah said. "I think the U.S. has the breadth and depth to sustain its exceptionalism and it has the rule of law as well," he said.
Bloomberg
21-05-2025
- Business
- Bloomberg
Kuwait Investment Authority: Underweight US at Own Risk
Sheikh Saoud Salem Abdulaziz Al-Sabah, Kuwait Investment Authority managing director, discusses America as an investment destination. "I think the US has the breadth and depth to sustain its exceptionalism," he tells Bloomberg's Stephanie Flanders at the Qatar Economic Forum 2025, powered by Bloomberg. (Source: Bloomberg)
