Wed, Aug 12, 2020
News Summary Report EXTERNAL RELATIONS
Cooperation Between the National Guards and the Jordan Forces
Operations and Training Chief at the National Guard, Staff General Faleh Shojaa received the new military attache at the Embassy of the Kingdom of Jordan to Kuwait, Staff Colonel Abdullah Al-Da’aga as he congratulates him on the occasion of his new position.
Staff General Faleh Shojaa welcomed the guest and conveyed greetings of His Highness Sheikh Salem Al-Ali Chief of the National Guard.
During the meeting, they exchanged amicable talks and discussed issues of mutual concern, especially those related to the military side. They discussed enhancement of distinguished military relations between both sides through the cooperation protocol signed between the National Guard and the Jordan military forces.
Al-Anbaa
The Army Ensures Safety & Stability of the Northern Borders
General Chief of the army emphasized yesterday on safety and stability of the northern Kuwaiti borders.
The chief said in a statement that it denies what was circulated via various media regarding exposure of one of the centers to sabotage attack on the northern Kuwaiti borders.
Further, it said that the northern borders are stable and safe.
Al-Anbaa
Kuwait is Always Committed to Aid Lebanon: Foreign Minister
Foreign Minister and Acting Defense Minister Sheikh Dr. Ahmad Al-Nasser Al- Mohammad said that His Highness the Prime Minister Sheikh Sabah Al-Khaled chaired Kuwait’s delegation at the conference supporting Beirut and the Lebanese people to face the repercussions of the huge explosion that damaged Beirut port with a joint invitation from the French President Emanuel Macron and the Secretariat General of the United Nations Antonio Gutiérrez, which was held on Aug 09 via video conference.
Many world leaders, premiers, foreign ministers and leaders of regional and international organizations have participated, the foreign minister pointed out in a statement upon his participation at the conference supporting Lebanon and the Lebanese people with an invitation from the French President and the Secretariat General of the UN.
The Foreign Minister pointed out that Kuwait sent 7 airplanes loaded with medical aids, foodstuff items and donations from a number of charity organizations and the 8th airplane will be sent today (Wednesday).
Further, the Foreign Minister stressed on Kuwait’s commitment to aid Lebanon at all hard times, remarking that Kuwait has renewed this commitment at the conference with the contribution of the Kuwaiti Fund for Arab Economic Development in rebuilding cereals’ warehouse in Lebanon to enhance foodstuff safety.
Al-Anbaa
ECONOMY
101% Kuwait’s Commitment of OPEC+ Agreement
A survey for Standard and Poors Plus indicates a drop in commitment of OPEC+
to reduce oil production to 96% in July from 106% in June while maximizing production of the organization’s countries by 1.1 million barrels a day, knowing that Kuwait has recorded a commitment of 101% last month. It expects that the production of the organization will increase in August with the possibility of optimizing production shares by nearly 2 million barrels a day.
The Agency said that Iraq, Nigeria, Angola and Kazakhstan have been subject to an intensive auditing by their counterparts in OPEC+ due to their non- commitment of their shares previously. Meanwhile, Baghdad announced that it will minimize oil production to 400,000 thousand additional barrels in August and September.
S & P survey found that 13 countries in OPEC produced 23.39 million barrels on a daily basis in July with an increase of 1.08 million barrels daily from June, especially that the ten members of OPEC, who have production shares pursuant to the agreement of reduction of production achievement commitment by 94%.
Moreover, the survey indicated that Saudi Arabia (the biggest producer in OPEC) has optimized its production by 870 thousand barrels a day to 8.45 million barrels a day in July. However, it remained less than its production ceiling reaching 8.49 million barrels as Riyadh minimized its production to accelerate rebalance of oil markets. Its share has been enhanced to 8.99 million barrels from August till the end of the year pursuant to the provisions of dropping production with OPEC +.
The survey stated that Kuwait increased its production in July after additional reductions in June. Its production reached 2.16 million barrels a day in
million barrels a day in July with an increase of 70 thousand barrels a day on a monthly basis, exceeding its production share of 3.59 million barrels a day.
However, commitment to the agreement of production reduction by 83% is considered a significant improvement from the month of May.
Al-Qabas
The Public Authority for Investment Approves Exchange of GRF Assets with “Future Generations Fund”
Informed sources disclosed that the board of directors of the Public Authority for Investment approved in its last meeting transfer of investment assets from the General Reserve Fund to the Future Generations Fund.
Sources said to Al-Jareeda that approval has been made to transfer liquid assets with a value approaching KD 2.1 billion, including most shares owned by the Public Authority for Investment at Kuwait Bourse in addition to other shares in the Middle East region known as “MENA Rating”, remarking that all procedures have been completed, and only fining inking of the transfer process is remaining.
Sources added that property transfer and assets’ portfolio management will be transferred with the possibility of restoring them in the future in case of achieving the purpose of their transfer, and purchasing them again with the available prices at that time. Sources indicated that the assets that have been transferred from the GRF to the Future Generations Fund are easily liquidated shares in order to get monetary liquidity to cover the public budget deficit, and to ensure generating revenues for the interest of the Future Generations Fund.
Meanwhile, sources said that borrowing from the Future Generations Fund is a possible option among other options, however, it needs approval at the Parliament, and it is necessary to compare between the volume of borrowing
interest from the Future Generations Fund or from borrowing from finance channels.
Al-Jareeda
DOMESTIC AFFAIRS
No Confidence Motion Against the Finance Minister is a Duty: Riyadh Al- Adsani, Faisal Al-Kandari and Khalil Al-Saleh
MP Riyadh Al-Adsani considered that the no confidence motion against the Finance Minister Barrak Al-Shitan in today’s session becomes a duty after it has been proven he intends to affect citizens’ salaries.
Al-Adsani said in a press statement at the National Assembly yesterday that Minister Al-Shitan denied in his first interpellation last May that employees’
rights wouldn’t be affected by the economic document, however, he contradicts this in his second interpellation.
Al-Adsani described the economic document as a destruction document submitted by the Minister in June, which affects salaries and waves, and which ensures privatization for the interest of traders on the account of public interest.
Further, he added that he found approved letters from the Cabinet to formal entities, and still Al-Sheetan says that the economic document is still ideas.
“If the minister claims that they are just ideas, we stress that they are deadly economic ideas”, he added. “However, they are real decisions of freezing all annual increases and promotions, and this is an unlawful, unfair and inequitable decision”, he added.
“Why he wants to reduce the salaries of employees? and why doesn’t he approached companies or industrial units in order to maximize revenues?”, he questioned.
Further, he emphasized that the foreign minister wants to affect the national labor subsidies in the private sector, and this will have a direct impact on citizens.
Al-Jareeda
The Economic Document is Just Ideas – No Effect on Citizens’ Salaries Minister of Finance renewed his emphasis that there is no impact on employees or citizens’ rights by the economic document, remarking that all the circulated correspondences are just ideas and visions based on assignment of the Cabinet to the Finance Ministry in coordination with government entities.
Al-Sheetan said after his meeting with the Financial Panel yesterday that the panel discussed amendment of the Law No. 106/1976 regarding future generations reserve, remarking that this amendment will contribute to minimizing deficit, which occurs in each financial year.
Further, he added that the concept of deduction has been changed. Rather than making deduction from the estimated revenues of the country, deduction will be made from the budget surplus, if any, at the end of each fiscal year, and it will be dedicated for the interest of the Future Generations Fund (FGF).
Moreover, he pointed out that in case there is no surplus, then there will be no deduction. He added that this is one of the solutions submitted by the Finance Ministry to the Financial Panel to handle the budget and minimize its deficit.
Meanwhile, Al-Sheetan said that social media has circulated yesterday some correspondences issued by the Finance Ministry to all government entities, remarking that all such correspondence has been issued based on a decision of the Cabinet to Assign the Finance Ministry in coordination with government entities.
He indicated that this coordination is to consider the proposals of such authorities, stressing that such correspondence is just ideas and proposals submitted to the government authorities, and no decision regarding them has been taken inside the Cabinet.
Al-Sheetan stressed that salaries and rights of employees and citizens will not be
public budget for the year 2020-2021 to the National Assembly, which will be discussed at the Parliamentary Budgets’ Committee and Closing Accounts.
Al-Jareeda
Nothing New Regarding Banning of the 31 Countries: the DGCA
Al-Jareeda has been told by informed sources at the Directorate General of Civil Aviation yesterday that the Cabinet, in its last meeting on Monday didn’t make any changes on the 31 banned countries.
Sources stated that the health authorities in the country review the banned countries each 10 days. However, in the Cabinet’s meeting on Monday, the DGCA didn’t make any changes regarding the list of banned countries at the present time, remarking that the proposal of exempting foreign teachers (who are from banned countries) from entering into the country has not been approved, and it is still under study from the concerned authorities.
Sources indicated that the DGCA only made exception for the entry of judges and doctors and allowed them to enter into the country based on a request from the same authorities with a permission from the health authorities.
The DGCA has announced banning commercial flights arriving from India, Iran, China, Brazil, Columbia, Arminia, Bangladesh, Philippine, Syria, Spain, Singapore, Bosnia and Herzegovina, Sri Lanka, Nepal, Iraq, Mexico, Indonesia, Chile, Pakistan, Egypt, Lebanon, Hong Kong, Italy, Northern Macedonia, Moldova, Banana, Peru, Serbia, Montenegro, Dominican and Kosovo till further notification.
Al-Jareeda
Sources:
KUNA: http://www.kuna.net.kw/Default.aspx?language=en
Al Rai: http://www.alraimedia.com/
Kuwait Times: http:/36Y5/www.news.kuwaittimes.net/website/
Arab Times: http://www.arabtimesonline.com/news/
MEED: http://www.meed.com/
Al Anbaa: http://www.alanba.com.kw/newspaper
Al-Seyassa : http://al-seyassah.com/
Al-Anbaa: https://www.alanba.com.kw/newspaper/
Al-Jareeda: http://www.aljarida.com/
