KUWAIT, Oct 3 (Reuters) – Kuwait’s central bank is cutting
its discount rate by 50 basis points to 2 percent to help
bolster the banking sector and support the economy, state news
agency KUNA said late on Wednesday.
The cut, which will take effect from Oct. 4, is the first
move since February 2010, when the bank cut the discount rate by
50 basis points to 2.5 percent, according to Reuters data.
KUWAIT (Reuters) – Kuwait’s cabinet has asked the country’s ruler to consider dissolving parliament, state news agency KUNA reported on Wednesday, in a widely expected bid to clear the way for a new election and end months of political deadlock.
Kuwait, a major oil producer and U.S. ally, has a relatively open political system by Gulf standards, and has avoided an uprising like those that have ousted dictators in four Arab states since early last year.
KUWAIT, Oct 3 (Reuters) – Kuwait’s cabinet has asked the
country’s ruler to consider dissolving parliament, state news
agency KUNA reported on Wednesday, in a widely expected bid to
clear the way for a new election and end months of political
Kuwait, a major oil producer and U.S. ally, has a relatively
open political system by Gulf standards, and has avoided an
uprising like those that have ousted dictators in four Arab
states since early last year.
KUWAIT, Oct 1 (Reuters) – Kuwait’s government should take
all necessary measures to cut spending and focus on investing in
projects that will benefit the major oil producer’s economy in
the long-term, Central Bank Governor Mohammad al-Hashel said on
Hashel, who took over at the central bank in March, said he
shared his predecessor’s concern about high government spending
in the Gulf Arab state.
KUWAIT (Reuters) – Palestinian authorities are aiming to securitize an initial $200 million of some $1.3 billion worth of government debt by the first quarter of 2013 to help reduce state borrowing from local banks, a top banker said on Sunday.
“The Ministry of Finance is much more ready for securitizing the old debt rather than creating new debt, because we are not even rated,” Palestinian Monetary Authority Governor Jihad al-Wazir said ahead of a Monday meeting of Arab central bankers in Kuwait.
KUWAIT, Sept 17 (Reuters) – OPEC member Kuwait plans to more
than double the portion of state revenues it puts into a rainy
day fund, mostly from oil, to 25 percent this fiscal year, the
state news agency said on Monday.
Kuwait’s cabinet has asked the finance ministry to make the
change in the budget for the year ending in March 2013, news
agency KUNA said. It was not clear whether the increase would
extend beyond the current financial year.
KUWAIT, Sept 10 (Reuters) – Around 1,500 Kuwaitis took part
in a rally late on Monday to protest against possible changes in
the electoral law and call for more democracy.
The crowd, which included opposition lawmakers and political
activists, gathered outside parliament in a square which has
hosted several anti-government demonstrations since late last
KUWAIT (Reuters) – Police released a member of Kuwait’s Al-Sabah ruling family on Sunday after holding him for several days over remarks on Twitter in which he accused the authorities of corruption and called for political reforms, a rights activist said.
Kuwaiti authorities detained Sheikh Meshaal al-Malik Al-Sabah on Thursday, Anwar al-Rasheed, secretary general of the Gulf Forum for Civil Societies, told Reuters.
OUTSIDE AL-QAIM, Iraq (Reuters) – At a bare concrete building on the western edge of Iraq, hundreds of Syrian refugee families wait in the shade, anxious to find out where they will spend the night after fleeing their homeland.
Many of the men, women and children had come from the Syrian town of Albu Kamal and said Syrian rebel forces escorted them on the 7 km (4 miles) road to the main border gate with Iraq.
AL-WALEED, Iraq (Reuters) – They fled sectarian violence in Iraq years ago but are now desperately trying to get back – crammed into buses, trucks and cars out of Syria, once their safe haven, now descending into civil war.
At a desert border crossing, 560 km (350 miles) west of Baghdad, hundreds of Iraqi men, women and children arrived exhausted in the baking sun, back in the homeland they thought they had left behind.