The Muslim and Yemeni-American mayor of Hamtramck, Michigan, was on the defensive about past social media posts and BDS views. His outspoken criticism of Israel and other comments on social media from his days as a private citizen have emerged as a major obstacle to his confirmation, particularly after being amplified by the staunchly pro-Israel Anti-Defamation League (ADL) and some right-wing news outlets (Read more at Middle East Eye).
Global oil prices rose by 5% on Thursday following the news that also prompted India to consider cutting Russian imports. "I expect that any decision to impose sanctions will certainly have a positive impact on prices," Kuwaiti Minister Tariq Al-Roumi said in response to a Reuters question (Read more at Market Screener).
Kuwait's Capital Markets Authority said last week in a statement it had granted an investment adviser licence to BlackRock Advisors (UK) Ltd, a unit of the U.S. asset manager. Its Kuwait office will include teams in customer service, financial advisory and its Aladdin technology platform, according to the report. BlackRock, which oversees $12.5 trillion in assets, has markedly expanded its footprint across the Gulf, in Abu Dhabi, Riyadh and Doha, cementing partnerships that span fund management, infrastructure, and advisory (Read more at Yahoo Finance).
The U.S. State Department has approved the potential sale of equipment and services related to sustainment support for M1A2 Abrams main battle tank systems to Kuwait for an estimated $325 million. The principal contractor for the sales is General Dynamics (Source: Reuters).
"This proposed sale will support the foreign policy and national security objectives of the United States by helping to improve the infrastructure of a major non-NATO ally that has been an important force for political stability and economic progress in the Middle East," the US State Department said in a statement (Read more at Anadolu Ajansı).
Woodside Energy (WDS.AX), opens new tab is in talks with an overseas unit of Kuwait Petroleum to sell a stake in its Louisiana liquefied natural gas plant in the U.S. The overseas unit, Kuwait Foreign Petroleum Exploration, is also considering securing LNG supply from the project. Earlier this month, Woodside, Australia's top gas producer, had agreed to sell a 40% stake in its Louisiana LNG plant to U.S. infrastructure investor Stonepeak for $5.7 billion (Read more at Reuters).
This agreement involves enhancing Kuwait’s stockpile of Patriot PAC-2 Guidance Enhanced Missiles [GEM] and Patriot Guidance Enhanced Missiles-Tactical [GEM-T], signalling a significant step in maintaining the Gulf nation’s air defence capabilities. Beyond the surface-level transaction, this development hints at deeper shifts in Kuwait’s military strategy and its ongoing partnership with the United States, set against a complex regional backdrop (Read more at Arab Weekly).
The U.S. State Department has approved the potential sale of military-related design and construction services to Kuwait for an estimated cost of $1 billion, the Pentagon said (Read more USNews).
Additionally, the package covers cables, wiring harnesses, hydraulics, fuel oil pumps, starters, generators, AGT1500 engine parts, testing and limited repair services for communication systems, fire control, night vision, and laser devices (Read more at Army Technology).
Awarding Boeing a $1.5-billion contract in 2018, Kuwait ordered 28 F/A-18 Super Hornets to replace its F/A-18C/D fighter jets. The retired planes will now be sold to Malaysia if a deal is reached and Washington approves the sale. A multi-role combat aircraft, the F/A-18C/D is used for defensive and offensive operations and is capable of carrying precision-guided and unguided bombs (Read more at Defense Post).
He posted content on social media in support of a banned group. The statement did not identify the man or the group (Read more at The National).
