Kuwait sits on 10 percent of the world's oil reserves and currently produces 2.4 million barrels of crude oil a day. The nation's economy is highly dependent on revenues from oil exports and the current high oil prices are producing a surge in revenue. Today, 80 percent of Kuwait's income comes from oil exports. In March 2006, huge natural gas reserves were discovered in Kuwait for the first time. These reserves could yield as much as 35 trillion standard cubic feet of natural gas, which could cover needs for generating electrical power and support petrochemical industries. This appears to be an important turning point in the development of Kuwait's hydrocarbon industry. Having recovered from the 1991 Iraqi Invasion, Kuwait is now actively promoting domestic investment and entering a new phase of development.
Mitsubishi Corporation (MC) has been in Kuwait for more than 40 years and it established a local company named Al-Masat Al-Thalath Trading Company (Mitsubishi) K.S.C. (hereafter "MC Kuwait"). Since its establishment, MC Kuwait has been involved in many business activities, such as those relating to the export of crude oil and its derivatives.
Oil: MC has been exporting substantial quantities of crude oil, naphtha and liquefied petroleum gas (LPG) to Japan based on term contracts for many years. MC is a long-time customer of Kuwait Petroleum Corporation.
Chemicals: MC Kuwait exports various grades of polypropylene to Pakistan and South East Asia, with China being a primary export destination. MC is the sole distributor to these countries for the Petrochemicals Industries Company (PIC). The Kuwait Aromatics Company is expected to begin production of paraxylene in 2009, and MC Kuwait is working together with MC Tokyo to become one of the major suppliers of paraxylene to India and China.
Ductile Pipes: For many years, MC Kuwait has successfully supplied ductile pipe to Kuwait. Kuwait does not have sufficient natural water reserves, so these pipes are needed to carry drinking water from desalination plants to various residential areas.
In addition to these core businesses, MC Kuwait is also looking to support the development of environment projects in Kuwait as the nation begins to focus more and more on environmental issues.
Women are active in all aspects of Kuwaiti society. They have reached high positions in various parts of society, playing important roles at oil enterprises and in education as well as serving as diplomats. But for a long time, Kuwait's 1962 election law only allowed men to vote. However, Kuwait's Amir encouraged the government to extend voting rights to women, and on May 16, 2005, the Kuwaiti parliament voted to give women the right to vote and to run for office beginning in 2007, provided they observe Islamic laws. The right to vote has historically been restricted to men over 21 who are not members of the police force or military, so allowing women to vote could more than double the number of registered voters in Kuwait.
Dining is a focal point of life-and key source of enjoyment-for people in Kuwait. In addition to Arabic cuisine, you can also enjoy a wide variety of food from around the world, including French, Italian, and Chinese. Facing the sea on three sides, Kuwait City is famous in the Middle East for its delicious fish, and seafood restaurants are very popular. Two varieties of white fish from the Gulf-sobaity (silvery black sea bream) and hamoor (brown-spotted grouper) -are well-known local favorites.
In recent years, interest in Japanese food has been growing, with ten Japanese restaurants already open in town. Sushi is especially popular among health conscious Kuwaitis.
Diwaniyah have existed in Kuwait since time immemorial. The term originally referred to the section of Bedouin tent where the men and their visitors sat apart from the family. In the old city of Kuwait, it was the reception area where men received business colleagues and other guests.
Diwaniyah are at the core of Kuwaiti's social, business and political life. They are where topics of interests are discussed, and sometimes include guest speakers. They are also called for special purposes, such as election campaigns. Formal diwaniyah are at the root of Kuwait's consensual political system.
As social events, diwaniyah take place in the evening in special rooms. At a traditional diwaniyah, only men are present. They sit around on soft benches or cushions, conversing casually, smoking, eating snacks and relaxing over tea, coffee or other beverages.
Local people may invite non-Kuwaiti colleagues to diwaniyah. These are excellent opportunities for making good business contacts. Indeed, a pleasant evening may be spent going from one diwaniyah to another. With modernization, women in Kuwait sometimes hold their own diwaniyah.
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