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It has been two years since the Gulf Monetary Council (GMC) – central to the plan for a Gulf Co-operation Council (GCC) monetary union – was established on 27 March 2010, and well over a decade since the project to introduce a Gulf common currency began. In recent months, a few small steps have been taken by the four Gulf states still on board: Saudi Arabia, Kuwait, Qatar and Bahrain. But global economic woes, regional political uncertainties and fundamental questions about the plan’s economic viability leave the prospects of Gulf monetary integration remote.

Kuwait | Saudi Arabia | Bahrain | Oman | United Arab Emirates (UAE) | Qatar
Subscriber

Prime minister Sheikh Jaber Al-Mubarak Al-Sabah became the first Kuwaiti premier to be ‘grilled’ in public on 28 March, as parliament submitted him to five hours of questions and debate.

Kuwait
Issue 921 - 06 April 2012

Kuwait names central bank governor

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Kuwait has named 37-year-old Mohammad Yusif Al-Hashel as governor of the Central Bank of Kuwait. Hashel has been acting governor since Salem Abdulaziz Al-Sabah – who had been in the position for 25 years – resigned on 13 February, apparently because of objections to a rapid rise in government spending (GSN 918/8).

Kuwait
Issue 918 - 22 March 2012

Technip to build pipeline

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France’s Technip has won a Kuwait Gulf Oil Company contract to build a 110km pipeline between Kuwait and Saudi Arabia, both onshore and offshore.

Kuwait | Saudi Arabia
Issue 920 - 22 March 2012

Gulf interest in Egypt remains strong

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Saudi Arabia avoided a clash with Cairo in April 2011, when Saudi business tycoon Prince Alwaleed Bin Talal returned 75,000 feddans (77,850 acres) of a total 100,000 feddans of agricultural land bought in 1997 by his Kingdom Agricultural Development Company.

Kuwait | Saudi Arabia | United Arab Emirates (UAE) | Qatar
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In a flurry of diplomatic activity ahead of this month’s Arab League summit, Iraq has settled Gulf war era debts with Egypt and Kuwait worth a combined $908m.

Kuwait | Saudi Arabia | Iraq
Issue 920 - 22 March 2012

Kuwait assured over Hormuz

Subscriber

Iran has assured Kuwait it will not try to close the Strait of Hormuz, according to Kuwait’s Emir Sheikh Sabah Al Ahmed Al Jaber Al Sabah.

Iran | Kuwait
Free

Analysts expect the cabinet and opposition-dominated parliament to remain at loggerheads, and say that, in the short term, the stalemate is likely to continue. When parliament opened on 15 February, proceedings were chaotic and, less than a week later, there was a request filed to grill the prime minister.

Kuwait
Issue 919 - 08 March 2012

Qatar tops rich list

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It is not just in diplomatic circles that Qatar punches above its weight. The small Gulf country of around 1.9m people has topped Forbes’ list of the world’s richest countries, published on 22 February.

Kuwait | United Arab Emirates (UAE) | Qatar
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The lack of opposition voices in the new cabinet narrows the chances of its survival; a first chaotic session of parliament and a request already filed to interpellate the prime minister confirm expectations of a rough ride ahead

Kuwait
Issue 917 - 09 February 2012

Gulf states reach for the skies…

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Gulf states may want to take note of a January report by Barclays Capital suggesting an “unhealthy correlation” between the construction of skyscrapers and subsequent financial crashes.

Kuwait | United Arab Emirates (UAE)
Issue 917 - 09 February 2012

Kuwait poll: breaking down the results

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With political parties banned and some candidates campaigning on multiple platforms, working out the election gains of the various blocs and alliances is not straightforward.

Kuwait
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Invigorated by the Arab Spring, and encouraged by last year’s dissolution of parliament following protests over corruption, a new parliament looks set to bring Kuwait to tipping point. Analysts say there is only so long the country can endure the paralysis caused by pitching an elected parliament against a hand-picked government

Kuwait
Issue 916 - 26 January 2012

Al Ghanim in hacking dispute

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A family feud among the Al Ghanim, one of Kuwait’s most high-ranking billionaire business clans, has been aired in public, following media coverage of a New York court case. While some say it has long been an open secret that brothers Bassam and Kutayba Al Ghanim do not get along, the allegations in the case brought by the younger Bassam are astonishing.

Kuwait
Issue 914 - 09 December 2011

New premier named but tensions remain

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Emir Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah has appointed outgoing defence minister and deputy premier Sheikh Jaber Mubarak Al-Sabah as prime minister. The appointment, on 30 November, came just two days after the government of Sheikh Nasser Mohammed Al-Ahmed Al-Sabah resigned due to pressure from the opposition, which had refused to co-operate.

Kuwait