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Cabinet Approves Raft of Financial Reforms

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Cabinet Approves Raft of Financial Reforms SUBSCRIPTION TUESDAY, MARCH 15, 2016 JAMADA ALTHANI 6, 1437 AH www.kuwaittimes.net No ban on Top cop Egypt devalues New Jersey hiring Filipino Ali sent to currency to fencer to wear helpers by retirement, record low hijab at Rio expatriates4 promoted4 against21 dollar Olympics16 Cabinet approves raft Min 18º Max 25º of financial reforms High Tide 04:42 & 15:53 Low Tide Profits to be taxed 10% • Some services re-priced • Some oil facilities to be privatized 10:20 & 23:16 40 PAGES NO: 16814 150 FILS Putin withdraws Amir fetes police graduates By Meshaal Al-Enezi KUWAIT: Finance Minister Anas Al-Saleh yesterday forces from Syria announced that the Cabinet has approved a six-point financial and economic reform plan prepared by the MOSCOW: Russian President Vladimir Putin yesterday Cabinet’s economic affairs committee. Speaking at a ordered the defense ministry to begin the withdrawal of press conference alongside Minister of Social Affairs and Russian forces from Syria from today. “The task that was Labor and Planning Hind Al-Subaih and the Minister of set before our defense ministry and armed forces has as Commerce and Industry Yousef Al-Ali, Saleh said the a whole been completed and so I order the defense plan includes a 10 percent tax on profits of companies. ministry to from tomorrow start the withdrawal of the The Cabinet also approved re-pricing some commodi- main part of our military contingents from the Syrian ties and public services, he Arab Republic,” Putin told said without elaborating. Defense Minister Sergei Saleh added the govern- Shoigu in televised com- ment would seek to privatize ments. some state-owned projects, The Kremlin announced including airports, ports and that Putin had called some facilities of Kuwait President Bashar Al-Assad Petroleum Corporation Anas Al-Saleh to inform Moscow’s long- (KPC), though not the main standing ally of the sur- Vladimir Putin oil sector. Corporate taxes are currently levied at differ- prise move that appears to ent rates for local and foreign companies, although end the main part of its intervention in Syria’s conflict most Kuwaiti companies do not presently pay taxes on that began in September. “The leaders noted that the income. Other charges are levied though - some firms actions of the Russian air force allowed to radically must pay an employment tax and make mandatory change the situation in the fight against terrorism, to contributions for zakat, or Islamic alms, and for a scien- disorganize the fighters’ infrastructure and inflict signifi- tific research foundation. cant damage on them,” the Kremlin said in a statement. Saleh, who is also the acting oil minister, told the “Taking that into account, the President of Russia KUWAIT: HH the Amir and Commander of the Armed Forces Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah press conference that the country welcomed coordina- stated that the main tasks set before the armed forces tion between OPEC and non-OPEC countries, but insist- of Russia in Syria had been completed. attends a ceremony at Saad Al-Abdullah Academy for Security Sciences to celebrate the graduation of police officers yesterday. — KUNA (See Page 3) ed priority was a consensus. Continued on Page 13 Continued on Page 13 TUESDAY, MARCH 15, 2016 LOCAL KUWAIT: His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah separately received Advisor at the Saudi Royal Court Sheikh Dr Saad bin Nasser Al-Shathri. Minister of Awqaf and Islamic Affairs Yaqoub Al-Sane attended both meetings, which took place at Bayan Palace yesterday. —KUNA Yemeni President in Kuwait today Amir condemns Ankara bombing KUWAIT: Yemeni President Abd Rabu Mansour Hadi and KUWAIT: His Highness the Amir Sheikh reiterated Kuwait’s firm rejection to all explosion, which killed 37 people. The Foreign Ministry has expressed Kuwait’s his accompanying delegation are due to arrive to Kuwait Sabah Al-Ahmad Al-Jaber Al-Sabah sent on forms of terrorism and its solidarity with embassy has not received any reports strong condemnation of the terrorist today on a two-day official visit. The Yemeni President will Sunday a cable to Turkish President Recep the international community to eradicate that any Kuwaiti was harmed, ambassador attack that targeted a bust stop in Ankara hold official talks with His Highness the Amir Sheikh Sabah Tayyip Erdogan to extend condolences it and dry up its resources. His Highness Thuwaikh said, urging his compatriots to Sunday evening. In a press statement, the Al-Ahmad Al-Jaber Al-Sabah. over the powerful bombing attack in the the Crown Prince Sheikh Nawaf Al-Ahmad be cautious and keep away from the site official emphasized Kuwait’s full support Meanwhile, First Deputy Prime Minister and Foreign Turkish capital which left scores dead. Al-Jaber Al-Sabah, His Highness the Prime of the explosion. to all Turkish measures to maintain securi- Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah held In his cable, His Highness the Amir Minister Sheikh Jaber Al-Mubarak Al- Thuwaikh said that the embassy estab- ty and stability in the country. talks with visiting UN Special Envoy for Yemen Ismail Ould expressed sincere sympathy with victims’ Hamad Al-Sabah and National Assembly lished an operating room to receive con- The official reiterated Kuwait’s firm Cheikh Ahmad at the Ministry of Foreign Affairs on Sunday families and wished the injured quick Speaker Marzouq Al-Ghanem sent similar tacts from Kuwaitis in case of emergency. stance against all forms terrorism and evening. recovery. His Highness the Amir also cables to the Turkish President. He offered his condolences to the Turkish whatever its source. The official extend- During the meeting Sheikh Sabah Al-Khaled reaffirmed strongly condemned the terrorist attack Meanwhile, Dean of the Diplomatic people over the victims of the Kizilay ed condolences to families of the victims Kuwait’s call for full implementation of the UN Security that targeted innocent people and the Corps and Kuwait’s Ambassador to Turkey blast, wishing the wounded a speedy to the Turkish people and government Council Resolution 2216 on Yemen, the GCC initiative and stability and security of a friendly country. Abdullah Al-Thuwaikh said that all recovery. and wished injured people quick recov- its executive mechanisms, and the outcomes of the nation- In this regard, His Highness the Amir Kuwaitis in Ankara were safe after the In the meantime, a senior official at the ery. —KUNA al comprehensive dialogue. He also renewed support to the efforts of the UN Envoy to resume the peace talks between the warring parties in Yemen. The talks brought together Deputy Foreign Minister Khaled Suleiman Al-Jarallah, and assistants to the foreign minister Sheikh Ahmad Nasser Al-Mohammad Al-Sabah, Dhari Ajran Al-Ajran, Nasser Hejji Al-Mezyen, Aziz Rahim Al- Dihani and Ayham Abdullatif Al-Omar, as well as Ambassador to Yemen Fahad Allami’e and other senior offi- cials of the Ministry. —KUNA Minister of Education and Higher Education Dr Bader Al-Essa Sixth int’l energy conference opens KUWAIT: Minister of Education and Higher Education Dr Bader Al-Essa yesterday inaugurat- ed the 6th International Conference on Energy Research and Development (ICERD-6) under the patronage of His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah. In a keynote speech, the minister stressed the significance of energy as the secret of life and a source of power, welfare and scientific research. He added that the lion’s share went to the coun- tries which attached much attention to energy development and investment through state-of- the-art methods. Essa also underlined the necessity of investing energy in a careful manner and opening up to the outside world, noting that this is already hap- pening in Kuwait as many research institutions are partaking in the conference. Kuwait University Director Dr Husein Al-Ansari said meanwhile that energy is a vital field that wields direct and indirect influence on the con- temporary world, pointing to modern energy advancements. He touted the three-day confer- ence as a good opportunity for engineers, tech- nicians and specialists from Kuwait and other GCC countries to get familiar with the latest tech- nological uses in the field of energy. Ansari emphasized that there is no doubt that energy is an essential component of sustainable develop- ment. Organized by Kuwait University (KU), the Kuwait Foundation for the Advancement of Sciences (KFAS) and Ministry of Electricity and Water, the 6th International Conference on Energy Research and Development (ICERD-6) takes place between March 14-16. The confer- ence builds upon the five previous conferences which have attracted the international energy research and development community. The theme of the conference is “Advances in Energy Research and Development”. Special emphasis will be on emerging energy conversion technologies, conservation and management strategies. The objective is to optimize the utiliza- tion of basic energy resources in the major ener- gy consuming sectors in the arid region of the Arabian Peninsula. The conference aims to bring together leading academic scientists, researchers and practicing experts to exchange and share their experiences and research results about all advancements in energy applied systems. —KUNA TUESDAY, MARCH 15, 2016 LOCAL KUWAIT: (From left) His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah, Sheikh Jaber Al-Abdullah Al-Sabah, His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Sabah, His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah, National Assembly Speaker Marzouq Al-Ghanem, His Highness Sheikh Nasser Al-Mohammad Al-Sabah and Chairman of Kuwait’s Supreme Judicial Council and the Cassation Court, President of the Constitutional Court, Justice Yousef Al-Muta’waa attend a police officers’ graduation ceremony at Saad Al-Abdullah Academy for Security Sciences.
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