SUBSCRIPTION THURSDAY, AUGUST 6, 2015 SHAWWAL 21, 1436 AH www.kuwaittimes.net Jailed A look at Multibillion Gunman fires Barrak Egypt’s Suez dollar India on Pakistan rushed to Canal, past e-commerce cricket legend hospital3 and14 present battle21 heats up Akram’s20 car MH370 mystery unravels, Min 30º Max 47º High Tide but questions remain 03:50 & 15:55 Low Tide 10:25 & 22:25 40 PAGES NO: 16601 150 FILS Malaysia confirms wing part is from ill-fated MH370 KUALA LUMPUR: Malaysia confirmed early today that a piece of a wing washed up on an Indian Ocean island Obama: Rejecting Iran deal would spell war beach last week was from the Malaysian Airlines jet MH370, the first trace of the plane found since it van- ished last year with 239 people on board. “Today, 515 WASHINGTON: President Barack Obama made a vig- days since the plane disappeared, it is with a heavy orous case for his nuclear deal with Iran yesterday, heart that I must tell you that an international team of warning lawmakers that rejecting diplomacy would experts have conclusively confirmed that the aircraft lead to war and destroy US credibility. Casting the debris found on Reunion Island is indeed from MH370,” debate over the agreement with Tehran as “the most Prime Minister Najib Razak said in an early morning tel- consequential foreign policy debate” in a decade, evised statement. The announcement, by providing Obama said Congress must not waver under pres- clear evidence that the plane crashed in the ocean, clos- sure from critics whom he said history had already es one chapter in one of the proven wrong. biggest mysteries in aviation his- “Many of the same people who argued for the war tory, but still leaves unanswered in Iraq are now making the case against the Iran questions about precisely why it nuclear deal,” he said, urging lawmakers to instead disappeared. choose an American tradition of strong diplomacy. “Malaysia Airlines would like to “Congressional rejection of this deal leaves any US sincerely convey our deepest sor- administration that is absolutely committed to pre- row to the families and friends of venting Iran from getting a nuclear weapon with one the passengers onboard Flight MH370 on the news that the flap- option: another war in the Middle East. If Congress eron found on Reunion Island on kills this deal, we will lose more than just constraints 29 July was indeed from Flight Najib Razak on Iran’s nuclear program or the sanctions we have MH370,” the airline said in a statement issued as soon as painstakingly built,” he warned. “We will have lost the prime minister had spoken. “This is indeed a major something more precious. America’s credibility as a breakthrough for us in resolving the disappearance of leader of diplomacy. America’s credibility as the MH370. We expect and hope that there would be more anchor of the international system.” objects to be found which would be able to help Continued on Page 13 WASHINGTON: US President Barack Obama delivers a speech yesterday at American University. — AFP resolve this mystery,” it said. Continued on Page 13 Egypt to unveil Suez extension IS threatens to kill Croatian abducted in Egypt CAIRO: Egypt is to unveil a major exten- four wars with Israel, including a 1973 sion of the Suez Canal today, a mega- offensive launched across the canal that project that has emerged as a corner- Egyptians celebrate as their greatest mil- Days of easy stone of President Abdel-Fattah Al-Sisi’s itary victory. efforts to restore national pride and The government hopes for another money ending revive the economy after years of unrest. historic moment today, when it unveils The 1869 inauguration of the canal link- an $8.5 billion extension of the waterway as oil plunges ing the Red Sea to the Mediterranean funded entirely by Egyptians, without for- was hailed as a leap into the modern eign aid. The media and government sup- DUBAI: The days of very easy money are drawing to age, and President Gamal Abdel-Nasser’s porters across the board have breathless- a close in the rich Gulf Arab oil-exporting nationalization of the British and French- ly repeated the same message - after four economies as money market rates start to rise, part- run waterway in 1956 was seen as mark- years of strife and the overthrow of two ly because of the damage which cheap oil is doing ing Egypt’s decisive break with its colo- presidents, Egypt is back. to government finances. Loose liquidity created by nial past. That sparked the second of Continued on Page 13 inflows of oil money pushed short-term rates in Saudi Arabia, the United Arab Emirates and neigh- boring states to record lows last year, fuelling fren- zied competition among banks to lend to firms at HARDA, India: Two Indian passenger trains are seen next to each other following tiny spreads. a derailment after they were hit by flash floods on a bridge outside this town in But in the last few days, money rates have started Madhya Pradesh yesterday. — AFP to rise relatively sharply. If this continues, banks could begin to regain some pricing power over their loans. One reason for higher rates is expectations for US monetary tightening this year. With their curren- 27 dead after two cies pegged or closely linked to the US dollar, Gulf central banks would probably tighten too. But a big- ger factor is the plunge of oil prices since mid-2014, India trains derail which has slashed governments’ oil revenues, threat- ening to shrink flows of money into Gulf banks. NEW DELHI: Two passenger trains eastern city of Patna and bound for “The days of easy money are over,” said a senior derailed after flash floods struck a bridge Mumbai, then crossed over. “The mud banker at a state-run UAE commercial bank, declin- they were crossing in central India, killing from under the tracks was washed away ing to be named because of the subject’s sensitivity. up to 27 people in the latest deadly acci- and the tracks were left in the air,” Madhya “Dragging oil prices and expectations that dent on the nation’s crumbling rail net- Pradesh Chief Minister Shivraj Singh increased exports from Iran will add to the global work. Rescuers pulled scores of terrified Chouhan told the NDTV network at the supply glut are unnerving the money market, which passengers to safety after they became scene. previously held rates at rock-bottom levels for sev- trapped in carriages that toppled over on Minister Prabhu told parliament in New eral months.” the weakened and flooded tracks in Delhi the number of confirmed deaths so Continued on Page 13 This video grab shows a militant standing next to a kneeling man who identifies Madhya Pradesh state, railway and gov- far was only 12, but two officials in himself as 30-year-old Croatian Tomislav Salopek at an unknown location. — AP ernment officials said. A total of 10 car- Madhya Pradesh put the death toll much riages and one engine from the express higher. State railway police chief M.S trains, travelling in opposite directions, Gupta said 27 people had been killed and Bollywood hit brings hope were derailed minutes apart outside the another 70 injured. “All the coaches have town of Harda just before midnight on been cleared and all bodies have been col- Tuesday. lected from inside,” Gupta told AFP. for mute Indian in Pakistan The government has ordered an inquiry Madhya Pradesh government spokesman into the accident, but Railways Minister Anupam Rajan told AFP that 25 bodies KARACHI: Deaf and mute, Geeta has in tracing her roots. But India’s High Suresh Prabhu said it appeared the cause had been recovered. been stuck in Pakistan for 13 years, Commissioner (ambassador) to Pakistan was a “flash flood due to heavy rains”. Television footage showed a line of car- unable to return to her native India T C A Raghavan visited Geeta on Tuesday Passengers described how they were riages lying on their sides and on top of because she cannot remember or evening to collect preliminary informa- jerked awake by the falling carriages, each other in a field of mud. Rescuers with explain exactly where she is from. But tion which could help track down her which quickly filled with muddy water. “I specialist cutting equipment were after repeated false dawns, Geeta has home and parents. And afterwards was sleeping and suddenly I felt a jolt. I deployed along with doctors. But a pas- new reason to hope. Following fresh Indian Foreign Minister Sushma Swaraj woke up and saw that all the passengers senger told regional TV that “nobody came media coverage the Indian government vowed to bring the story to a movie-style were screaming and running,” Manoj for us, we were stuck there for three to this week pledged to bring her home, in happy ending, tweeting: “We will bring Mongi told the Hindustan Times newspa- four hours”. “The train was off the tracks an echo of a smash-hit Bollywood film. Geeta back to India.” per’s website. “I came out. I saw three and water was everywhere. And within a “Bajrangi Bhaijaan”, featuring Indian It is still unclear how long the formali- women floating but I could not save them,” second, the whole train derailed and we all superstars Salman Khan and Kareena ties will take or whether her home town he added. “The water level on the track was got trapped inside.” Kapoor, tells the mirror image of Geeta’s has been identified.