Today in Kuwait's History : 12/06/2024

KUWAIT, June 12 (KUNA)

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1962 -- Kuwait Hotels Company was established with a KD two million (USD 6.5 million) capital for investment in hotels, chalets, offices, business buildings, residential apartments, parks and restaurants.

1962 -- Al-Ahleia Insurance Company was founded for diverse insurance transactions including capital re-insurance with a KD one million (USD 3.2 million) capital.
2001 -- Fitch Ratings revised outlook on Kuwait's long-term foreign-currency Issuer default rating (IDR) from (AA) to (AAA), where Kuwait with its huge foreign assets estimated at more than USD 100 billion became the largest external creditor on basis of its GDP and foreign currency revenues.
2007 -- Hamad Ahmad Al-Hamad, a renowned Kuwaiti banker and leading businessman, died at 82. The deceased was chairman of the Commercial Bank (1978-1996), and contributed to expansion of banking sector. He was also chairman of Burgan drilling company between 1970 and 2007.
2010 -- Kuwait News Agency (KUNA) inaugurated a back-up digital operation system in cooperation with the French news agency, AFP. The new system ensured work continuation in emergencies.
2011 -- Kuwait ranks 14th among the wealthiest states according to a report by the journal, Global Finance.
2014 -- Popular Kuwaiti actor and song composer, Majed Sultan, passed away. He was 74.
2015 -- Kuwait became member in the Food and Agriculture Organization (FAO) Council (the executive board), representing the group of Near Eastern and Africa states.
2017 -- Kuwait chaired the executive board of the World Food Program for the first time since joining the WFP.
2020 -- Amiri Diwan adviser Abdulrahman Salem Al-Atiqi died at the age of 92. He was the first ambassador to US and permanent representative at the UN. He also was director of the health department, undersecretary of the foreign ministry, finance and oil minister, represented the State of Kuwait at establishment of OPEC and contributed to establishment of civil societies including Kuwait Red Crescent.
2020 -- Renowned journalist, Faisal Al-Qinaee, died at 70. He was active at the level of Kuwait and Arab media, particularly in sports journalism.
2022 -- Kuwait University registered a patent at the US patent office of a device that could analyze conditions of nano particles in nanofluids.
2023 -- Kuwait Oil Tankers Company (KOTC) launched construction of two solar power stations designed to provide electricity for Liquefied Gas Filling Plants in Shuaiba and Umm Al-Aish Areas. (end) bs