Kuwait / by Alistair Galloway

Kuwait has been elected to serve a two-year term as a non-permanent member of the United Nations Security Council, beginning January 2018. During his visit to Saudi Arabia, President Trump signed a Memorandum of Understanding with the Gulf Cooperation Council member states on countering the financing of terrorism. The Kuwaiti logistics company, Agilit, has agreed to pay a $95 million settlement fee to the United States government to settle a civil case of defrauding the government during the company’s time as the main food supplier to the US Army in the Middle East. The Gulf Cooperation Council has reaffirmed its support for the internationally-backed President Abd-rabbu Mansour Hadi of Yemen who has recently rejected the announcement of a transitional political council for the south of Yemen. The Kuwaiti coastguard prevented an Iraqi vessel from entering Kuwait waters on Thursday 18 May. Two people were injured in the process. OPEC agreed to extend its deal to cut oil production, which has been in place since January, for nine more months until March 2018. The high compliance of Kuwait and Saudi Arabia has led to the rise in overall compliance with the deal from 90 per cent to 95 per cent, despite a slight increase in overall OPEC oil production this month. Kuwait Energy Plc. Is intending to be the first Kuwaiti company to have its stock publically traded on the London Stock Exchange.