Kuwait's information technology regulator signed a rental agreement with local telecom firm STC on Wednesday for a new administrative building run by the state body in the heart of Kuwait City, which stretches over 5698.5 square meters. The deal, worth more than KD 10 million and signed by Communication and Information Technology Regulatory Authority (CITRA) acting chief Abdullah Al-Ajmi, alongside STC chief executive Mutaz Al-Tharab, is in line with a cabinet directive aiming to lure investment by encouraging the private sector to contribute towards state development plans, said a statement by the regulator. The agreement was hailed as a step towards propping up the national infotech industry, leading to more economic development and growth, added the statement. Source: Kuwait News Agency