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Thur, Oct. 31, 2019
News Summary Report
KOREA-KUWAIT RELATIONS
Condolences to President of Korea
His Highness the Amir of the State of Kuwait sent a cable of condolences to Mr.
Moon Jae-in, President of the Republic of Korea for the death of Mr. Moon’s mother.
Similarly, HH Sheikh Nawaf Al-Ahmad, the Crown Prince and HH Sheikh Jaber Al-Mubarak, the Premier sent similar cables.
Al-Qabas
EXTERNAL RELATIONS
Supporting Arab Unity and Work: Amir and Jordan’s King Summit
KUWAIT CITY, Oct 30: His Highness the Amir and King Abdullah Al-Thani of Jordan made talks yesterday in the attendance of His Highness the Crown Prince Sheikh Nawaf Al-Ahmad, HH Sheikh Jaber Al-Mubarak, the Prime Minister and senior officials in the State of Kuwait.
Sheikh Ali Al-Jarrah, Amiri Diwan Affairs Minister said that the talks focused on the distinguished brotherly bilateral relations between the two countries and peoples, and means of enhancing them in all fields, and expanding cooperation frameworks to serve their joint interests as well as issues of mutual concern.
They further focused on supporting Arab unity and work as well as the latest updates regionally and internationally.
King of Jordan has visited Kuwait for hours, and he was the head of an official delegation.
Al-Qabas
Enlisting 4 Persons and 21 Entities as “Terror: MOFA
The United Nations’ Security Council Decisions’ Implementation Committee that is issued under Chapter Seven of the UN Charter, which is concerned with anti-terrorism and prevention of spread of weapons of mass destruction at MOFA enlisted 21 entities and 4 persons as terror groups as part of Kuwait’s efforts to combat terrorism and eliminate its sources.
“This procedure is taken in collaboration with the United States of America ( the associate president of the Center targeting terrorism financing with Saudi Arabia) in addition to all members of the Center ( Bahrain, Kuwait, Oman, Qatar, and UAE)”, said the Ministry of Foreign Affairs in a statement yesterday.
This procedure is part of the efforts taken by the Center to target terrorism financing. Moreover, it confirms the keenness of Kuwait and member states to deepen partnership with the USA to restrict financing of terror groups, which threaten interests of the member states at the center.
Further, it pointed out that the necessary procedures will be taken in accordance with Kuwait’s Constitution and laws as well as its local regulations by the
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concerned authorities to enforce the UNSC Decision No. 1373 (2001) issued under Chapter 7 of the UN Charter.
Meanwhile, informed sources said that names of entities and persons were not announced because they don’t have any activity inside the state of Kuwait.
However, the concerned authorities were only notified of the names, including the Ministry of Interior and the Central Bank to take any procedures against them.
Al-Qabas
A Written Message to Tamim Ben Hamad
Sheikh Sabah Al-Khaled, the envoy of His Highness the Amir, the Deputy Premier and Foreign Minister yesterday handed a written message from HH the Amir to the HH Tamim Ben Hamad, Amir of Qatar, which included the brotherly and good relations connecting both countries and peoples, and means of their enhancement and development in all fields and issues of mutual concern as well as the latest updates regionally and internationally.
Furthermore, Al-Khaled paid a short visit to Qatar where he delivered the message. Upon arrival to Qatar, he was received by Mohamed Ben Abdul Rahman the Deputy Premier and Foreign Minister of Qatar as well as Mr. Hafeez Al-Ajmi, Kuwait’s ambassador to Doha.
Al-Qabas
Our Relations with Turkey is Deeply-Rooted
Mr. Mohammad Al-Jabri, Kuwait’s Minister of Information and State Minister for Youth Affairs described Kuwaiti-Turkish relations as deeply rooted with a kind care from HH the Amir and the Turkish President.
Further, he said that this relationship is continuously improving and expanding in all fields, especially in the economic, commercial and cultural fields.
“Kuwait and Turkey depend on consultation and coordination in many regional and international issues, especially in the humanitarian and relief fields in order to enhance world stability and peace”, said Al-Jabri during his participation that day of the week in the 96th anniversary of establishing the Republic of Turkey.
Meanwhile, Ms. Aisha Kuwaitak, the Turkish ambassador to the State of Kuwait said that the bilateral relations between the two countries are based on strong connections between the leaders and peoples, and also on cultural and historical connections.
She pointed out that she prides that partnership and friendship between Turkey and Kuwait are strong as they were always under the guidance and supervision of HH the Amir and the President of Turkey.
“We can feel comfort that there is a strong commitment on the highest level from both parties to optimize the level of economic development”, she added, and called business men in both countries to show more vitality in building the future that “we desire”
She further mentioned that Kuwait and Turkey share the same attitude towards many regional and international challenges that we face today through working in an efficient way to face challenges of yesterday, today and tomorrow.
Al-Qabas
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ECONOMY
CBK Reduces Discount Rate to 2.75 pct
The Central Bank of Kuwait has decided to cut the discount rate by 0.25 % to 2.75 %, the CBK governor announced on Wednesday.
“The move aims to maintain the monetary and fiscal stability and support the atmospheres conductive to non-inflationary growth in the non-oil economic sectors”, Dr. Mohammad Al-Hashel said in a statement received by KUNA.
The CBK decision aims to enhance the competitiveness and attractiveness of the local currency as a pool for domestic savings, he pointed out.
“ It is made in line with the trajectories of the basic financial policy of the country and in light of continuous review of the world economic outlook and financial developments, including the interest rate trajectories of major currencies, “ It comes a few hours after the US Federal Reserve cut the interest rates for the US dollar”, Dr. Al-Hashel noted.
He clarified that the US Federal Reserve’s decision to reduce the dollar interest rate for the third time this year has increased the interest rate margin in favor of the Kuwaiti dinar compared to the US dollar.
The new development has paved the way for cutting the dinar discount rate while keeping an interest rate margin to retain the attractiveness of the Kuwaiti currency and reduce the cost of borrowing in Kuwaiti dinar, he elaborated.
Al-Hashel expected that this will encourage demand for loans by the productive economic sectors and improve environment for investment, which will stimulate aggregate demand and supports the growth of GDP for non-oil sectors.
He underlined that the CBK decisions draw on the data of the general economic performance, the indicators of local liquidity, the movements of savings and bank credits, and the interest on Kuwaiti dinar and the world’s major currencies, notably the US dollar.
“These data serve as parameters for determining the upward or downward movement of the local interest rates”, Dr. Al-Hashel explained.
KUNA
Kuwaiti, US Treasury Ministers Discuss US-Kuwait Business Council Riyadh, Oct. 30 (KUNA) - - Kuwaiti Finance Minister Dr. Nayef Al-Hajraf discussed with US Treasury Secretary Steven Mnuchin on Wednesday many common topics, including the launch of the Kuwaiti-American Business Council.
Dr. Al-Hajraf told KUNA after the meeting, on the sidelines of the Future Investment Initiative in Riyadh, that the Kuwaiti-American Business Council was announced last week in Washington.
The business council would be a platform for Kuwaiti businessmen to meet with their American counterparts to accomplish common interests, he added.
Kuwait and the US have extremely strong ties, Al-Hajraf stressed. Such opportunities are taken to emphasize Kuwait’s strategic interests and to communicate with countries that have strategic ties with Kuwait, and certainly America is an excellent ally, as they are keen to take such opportunities to emphasize vital ties, he said.
He underlined Kuwait’s efforts to support the international community’s efforts in combatting terrorism financing, stressing that Kuwait is committed to the international community in combating it, which is unrelated to religion, homeland nor history, but a scourge facing humanity.
Kuwait has been supporting international efforts in the fight against terrorism, emphasizing their discussions with the US side, especially since there is a conference that will be held in Melboune with the Australian Ministers of Finance next week to complement the Paris Conference held last year, he underscored.
KUNA
Future Investment Initiative Catches World’s Attention – Minister
Kuwait Finance Minister Nayef Al-Hajraf on Wednesday stressed the importance of the Future Investment Initiative (FII), which has become the focus of the world’s attention.
Al-Hajraf made the statement on the sidelines of the initiative, adding that the big participation of this year reflects the importance of the event.
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This initiative includes a number of key fields like energy, stock markets, banks, sovereign funds, alternative energy, technology, the impact on investment and infrastructure, he noted.
In the initiative, there were meetings with a number of experiments all over the world that were keen to be present, he pointed out.
“We listened to expertise of Brazil and India, the speech of Jordan’s King Abdullah II and the vision of Saudi Arabia”, the minister said.
Saudi Arabia’s hosting of this key economic event for the third year in a row is a big success of the Kingdom, Al-Hajraf said, expressing Kuwait’s pride for this progress. He said this success is a success for Kuwait.
Saudi Arabia, under the leadership of King Salman bin Abdulziz and by the follow-up of Crown Prince Mohammad bin Salman, has made many accomplishments in several domains, Al-Hajraf made clear.
He lauded Saudi Arabia’s hosting of the annual G20 leaders’ summit due in November 2020, which is the biggest economic event.
This will be in favor of boosting economies of GCC member states, and reflects that the region is rich not only by oil but also by the minds and ideas of its people and youth, he said.
He also extolled all efforts made in preparing and organizing this event, hoping that it will continue and make further progress.
The FII, which launched on Tuesday and will run until Tuesday (tomorrow), is organized by Saudi Arabia’s Public Investment Fund and in the presence of a number of head of states and decision-makers.
KUNA
DOMESTIC AFFAIRS
Kuwait’s Power Consumption Up 3.7% in Summer
Kuwait Minister of Oil and Minister of Electricity and Water Khaled Al-Fadel said yesterday there is now a pressing need to use smart grids to launch mega development projects.
Addressing Kuwait Smart Grid Conference and Exhibition, the minister said in a speech delivered on behalf of him by Assistant Undersecretary of the Ministry of Electricity for Smart Grids, Jassem Al-Nouri that the event aims at saving power, promoting economic openings and reducing carbon emissions. He added that power consumption hit 14,420 megawatts in the summer of 2019, up 3.7%.
The minister underlined the significance of finding new ways and detailed studies for the management of smart grids, pointing out the ministry’s interest in saving power through available technological methods. The smart grid refers to next generation power grids, with multi-directional flows of electricity and information to make a wide distributed network.
Through smart grid, the power system becomes smart by communicating, sensing, controlling and applying intelligence. Advances in power electronics and communication, and emphasis on renewable energy, as well as consumer participation in both production and consumption of electricity are the major drivers in making the power system a Smart Grid.
Kuwait Smart Grid Conference and Exhibition offers a unique platform for exchanging knowledge and expertise about latest power and grid technologies, with a focus on the smart grid technology, smart power generation, renewable solutions, energy efficiency and smart meeting.
Kuwait Smart Grid Conference and Exhibition will bring together industry stakeholders, government authorities, research and innovation institutes, regional and global experts and solution providers discussing and evaluating the way forward and the future of the grid and metering infrastructure in the GCC region.
Kuwait Times
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Disclose Names of Those “I Bargained with” at the Platform: Bushehri to Al-Tabtabaie
The media battle between Dr. Jenan Bushehri, Minister of Public Works and State Minister for Housing Welfare and MP Omar Al-Tabtabaie started early.
While the MP held a press conference to charge the minister of bargaining with MPs on employment transactions, Bushehri replied in a tweet and asked him to announce the names of MP on the platform of the interpellation.
“Delay of interpellation is a right guaranteed by the Constitution, however, she bargains with MPs for some vacant positions”, said Al-Tabtabaie, remarking that he seeks real reform and that Bushehri should debate with evidence because “ I will present each note supported with documents in front of the people of Kuwait”.
“We are not among those who bargain with MPs. I urge you to disclose the names of those I bargained with or tried to bargain with at the interpellation platform”, said Bushehri in response to such charges.
“Using proofs and documents at the interpellation platform will give an opportunity to the people of Kuwait and MPs to see who of us protects the public funds and bears the burdens of the citizen”, she added.
Al-Jareeda
Sources:
KUNA: http://www.kuna.net.kw/Default.aspx?language=en
Al Rai: http://www.alraimedia.com/
Kuwait Times: http://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/
