Kuwait and Iraq have signed their first formal military agreement since the 1990-91 occupation, as both countries build up their coastal security.
Following weeks of negotiations and delays – which prompted talks of a walkout by parliamentarians and fresh grilling threats against the prime minister – Kuwait has a new government, albeit one with only two new faces. Many MPs have responded angrily to what is in effect a minor reshuffle rather than a new government, with 12 parliamentarians staging a walkout at the National Assembly ceremony to swear in the new cabinet.
The breakdown of the deal between The Dow Chemical Company and Petrochemical Industries Company – in which the Kuwaiti state-owned PIC would take a 50% stake in the United States’ largest chemicals group for around $9bn in return for the Americans developing the emirate’s downstream value-added via the KDow joint venture – is unsurprising.
While Kuwait’s latest government crisis keeps the headline writers busy (see Politics, below), major oil companies are worrying that their hopes of developing the emirate’s huge reserves seem as elusive as ever. Some IOCs will struggle to make a profit even
Mere survival is not enough: supporters of Sheikh Nasser Mohammed want to see the prime minister give decisive leadership in overcoming family rivals and parliamentary opponents. Sheikh Nasser Mohammed Al-Ahmed Al-Jaber Al-Sabah, Kuwait’s embattled reformist prime minister, continues to face down conservative
Prime Minister Sheikh Nasser Mohammed’s administration is feeling the heat from defenders of traditional politics.
KAF Apache support deal for DynCorp BAE Systems in Eurofighter Typhoon talks with Oman. Qatar-India defence co-operation
One of the region’s strongest financial systems has weaknesses to address despite its successful management of last month’s mini-crisis.
Finance Minister Mustapha Al-Shamali and Kuwait Investment Authority (KIA) managing director Bader Al-Saad have reportedly been asked by Kuwaiti investment companies to set up a fund worth KD300m ($1.1bn) to help settle their debt in the wake of the global financial crisis.
Nouriya Al-Sabeeh looks far from safe, as Islamists gear up for another ministerial grilling, but the wider reform drive should continue as the parliamentary opposition lacks coherence on most non-social policy issues.
As Kuwait prepares for the 21 October start of the parliamentary session, Islamist assembly members are preparing to campaign for the amendment of Article 2 of the constitution to bring all legislation into compliance with Islamic principles.
MPs have called for an investigation into procedures at the 17 May legislative elections, after a Constitutional Court ruling annulled the election of two MPs over discrepancies with the vote count. The court ruling means that tribal, independent candidates Mubarak Al-Waalan Al-Mutairi
John Leonard Monterona, Middle East co-ordinator for Migrante, a leading independent organisation representing Filipino expatriate workers, told GSN his group would like to see sponsorship completely abolished.
Kuwait Energy Company has purchased Oil Search’s assets in Egypt and Yemen, and announced an agreement with the Somali government, underlining chief executive Sara Akbar’s determination to make the Kuwait-based indie a significant player in emerging hydrocarbons frontiers. A London listing is expected in 2009
The Holiday Inn in Beirut, ravaged during the 1975-90 civil war when it was used by militias as a base for fighting, remains a ruin due to differences within Kuwait's ruling family, sources in the Lebanese capital told GSN.
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