MUHARRAM 6, 1440 AH SUNDAY, SEPTEMBER 16, 2018
Max 47º 28 Pages Min 30º 150 Fils Established 1961
ISSUE NO: 17632 The First Daily in the Arabian Gulf www.kuwaittimes.net
Zainiac selects three initiatives to Argentina’s currency crisis Trump lashes ex-secretary of Impressive Chelsea, Liverpool 311incubate towards commercialization a boon for foreign tourists 24 state Kerry for Iran meetings 28 maintain lead over Man City
Hariri rejects allegations made against Amir on Al-Manar TV Info ministry slams remarks • Prosecutor preparing case • Berri denounces ‘malign activities’
BEIRUT: Lebanese Prime Minister Saad Al- face justice, affirmed Hariri, who stressed Hariri affirmed yesterday his country’s admi- the strong relations linking Kuwait and Kuwaiti couple ration and respect towards Kuwait, rejecting Lebanon. all recent allegations on Al-Manar TV Qenai said HH the Amir, as a prominent against HH the Amir Sheikh Sabah Al- regional and international figure, was above all gets jail term for Ahmad Al-Jaber Al-Sabah. This came in a controversies and allegations. With regards to press release by the office of Hariri during a the allegations, Qenai affirmed that the televi- airport attack reception of Kuwaiti Ambassador to sion channel, which allows such misinformation Lebanon Abdulaal Al-Qenai. to spread, is known for its controversial stance COLOMBO: A Kuwaiti man and woman convicted of Earlier, Lebanese State General on regional and international issues, indicating assaulting customs officers at Sri Lanka’s main inter- Prosecutor Judge Samir Hammoud tasked no act of such nature can affect the strong national airport were handed a six-month jail sen- the central criminal investigation department bilateral relations. The Kuwaiti diplomat tence suspended for five years, an official said yester- with scripting the interview conducted by thanked all Lebanese media outlets for voicing day. A magistrate sentenced on Friday the 32-year- Al-Manar with a media personality who their utter rejection of these allegations old woman and her 29-year-old male partner, who slandered Kuwait and HH the Amir. Kuwait’s against HH the Amir, affirming that it was information ministry also fiercely condemned reflective of the strong brotherhood amongst were also fined 138,000 rupees ($860). They were the allegations about recent talks between Lebanese and Kuwaiti people. arrested trying to smuggle in a Burmese mastiff into HH the Amir Sheikh Sabah Al-Ahmad Al- Lebanon’s official National News Agency BEIRUT: Lebanese Prime Minister Saad Al-Hariri meets Kuwaiti Ambassador the country in July without following quarantine pro- Jaber Al-Sabah and US President Donald (NNA) said yesterday the documentation of cedures. The woman was caught on CCTV cameras Trump in Washington. the interview is a prelude to legal proceed- to Lebanon Abdulaal Al-Qenai yesterday. — KUNA assaulting customs officers who tried to stop them. “What occurred on television screens is ings to be undertaken by the general prose- Bringing pets into the island without quarantine an act outside the Lebanese national con- cutor. The local media personality, inter- slander, falsification of facts and an attempt added. Later yesterday, top Lebanese law- clearance can lead to the forfeiture of the animal as sensus regarding relations with Kuwait and viewed by Al-Manar, attempted to defame to mislead the public,” the ministry said in a maker Nabih Berri said Lebanon “vehement- well as a fine of up to 100,000 rupees ($625). the rest of the Arab brethren,” said Hariri. He HH the Amir, making allegations about his statement. “These allegations are far from ly rejects” any derogatory remarks directed Customs spokesman Vipula Minuwanpitiya said the added that “Lebanon’s judiciary system is recent meeting with Trump, prompting the reality, containing offensive remarks that at Kuwait and its leader. “We will never for- pet dog was confiscated and later given back to the investigating the matter and will come up Kuwaiti ministry of information to robustly reveal evil and malicious intentions which get or cease appreciating the support couple to be taken out of the country. — AFP with a verdict”. The person who came up denounce the allegations. will never affect the neighborly and historic Kuwait has shown us in times of adversity,” with the allegations against HH the Amir will What was said represented “defamation, relations between Lebanon and Kuwait,” it Berri said in a statement. — KUNA
News in brief Activists stage Mubarak’s sons arrested protest against CAIRO: The two sons of former Egyptian president Hosni Mubarak were arrested yesterday for alleged book banning stock manipulation, a judicial source said. Gamal and Alaa Mubarak are accused alongside three other By Nawara Fattahova people of failing to notify the stock market of agree- ments to acquire majorities in several banks through KUWAIT: Around 80 activists gathered in Irada Square front companies. The accused attended a hearing at opposite the National Assembly yesterday to protest a criminal court in Cairo, where a judge ordered against the banning of books by the information ministry. their arrest, and they will be transferred to custody, This was the second gathering by the activists after they the same judicial source said. The next hearing has held a similar protest in front of the information ministry been set for Oct 20. Alaa Mubarak confirmed his on Sept 1, 2018. Dr Fatima Al-Matar, a teacher at the detention in a post on Twitter, voicing hope that “the Faculty of Law of Kuwait University, criticized the arbi- truth will be revealed one day”. — AFP trary resolutions of the information ministry to ban books. “We came today to say no to banning books and no to restricting free thinking and freedom. We will always Lankan envoy recalled protest against the arbitrariness of the ministry. We previ- ously met the minister who gave us many promises includ- KUWAIT: Activists gather in Irada Square yesterday to protest against the banning of books by ing changing the censorship committee and amending the COLOMBO: Sri Lanka President Maithripala the information ministry. — Photo by Yasser Al-Zayyat Sirisena recalled his top envoy to Austria and five publications law, particularly articles 7 and 21, which deal other embassy staff for failing to answer his long- with banning books. We demanded post-censorship distance telephone calls, officials said yesterday. instead of pre-censorship - the same way newspapers are much for the ban as they believe they can buy these books books. “One of the examples is banning a novel by Kuwaiti Ambassador Priyanee Wijesekera was given her treated, for instance,” she told Kuwait Times. online, I think those who censored these books can also author Buthayna Al-Eisa (Kharayet Altayh) over fears that it marching orders after calls made by Sirisena to the The ministry has banned 4,570 books from being sold ban the import of these books or block the websites sell- will affect the relationship with Saudi Arabia, while this nov- embassy in Vienna last week went “unanswered for in Kuwait in the past few years. “Books are an essential ing them. I know a person who wanted to import a number el is sold in Saudi Arabia. Also, some books were banned several hours,” an official source said.Earlier this and basic right of people, and we do not agree with the of books for his personal use but was not allowed to col- merely over the image on the cover. Mermaid, a children’s week, Sirisena flew into a rage over nuts served bans. We will continue protesting until the promises of the lect them from the customs,” Matar said. book, was banned because the mermaid is wearing a bra. aboard the island’s national carrier saying they were minister are fulfilled. Although some people don’t care She said the ban is not reasonable or logical for most Continued on Page 2 unfit “even for dogs”. — AFP
New Galaxy launch in Oct Super typhoon SAN FRANCISCO: Samsung sent out invitations NASA space Friday for an Oct 11 event to launch a new mobile tears through the device under its Galaxy line. The invitation offered laser satellite to few details but the mention of “4x fun” led to specu- lation the about a new smartphone with four cam- Philippines, heads eras or possibly a foldable handset. The South track ice loss Korean electronics giant, the world’s leading smart- to HK, China LOS ANGELES: NASA’s most advanced space laser phone maker, unveiled its latest flagship Galaxy satellite blasted off yesterday on a mission to track Note 9 in August. Samsung and other device makers TUGUEGARAO, Philippines: Super Typhoon Mangkhut ice loss around the world and improve forecasts of are looking for ways to boost momentum in a slug- smashed through the Philippines yesterday, as the biggest sea level rise as the climate warms. Cloaked in gish smartphone market. Despite its leadership posi- storm to hit the region this year claimed the lives of its first predawn darkness, the $1 billion, half-ton ICESat-2 tion, Samsung saw a 22 percent drop in mobile tech- victims and forced tens of thousands to flee their homes. launched aboard a Delta II rocket from Vandenberg nology sales in the second quarter. — AFP Roughly four million people - a quarter of whom live on a BAGGAO, Philippines: A man carries his sick child to another Air Force base in California at 6:02 am (1302 GMT). few dollars a day - were in the path of destruction that the car after their ambulance got stuck on a highway due to elec- “Three, two one, liftoff!” said a launch commentator storm slashed through the northern tip of Luzon island, tric posts toppled by Typhoon Mangkhut in Cagayan province on NASA television. “Lifting ICESat-2 on a quest to Workers fired for selling apples leaving at least eight dead. “As we go forward, this number yesterday. — AFP explore the polar ice sheets of our constantly chang- will go higher,” Ricardo Jalad, head of the national civil ing home planet.” HAVANA: Several employees of a Havana super- defense office, told reporters, referring to the death toll. 20 typhoons and storms lash the Philippines each year, The launch marks the first time in nearly a decade market have been fired for selling 15,000 apples to As the powerful storm left the Southeast Asian archi- killing hundreds of people and leaving millions in near- that NASA has had a tool in orbit to measure ice a single customer in a country regularly plagued pelago and barrelled towards densely populated Hong perpetual poverty. The dead were six people killed in sheet surface elevation across the globe. The preced- by food shortages. State news outlet Granma Kong and southern China, Philippine authorities began landslides, a girl who drowned and a security guard ing mission, ICESat, launched in 2003 and ended in reported on Friday that the employees involved sending search teams to remote areas hit by communica- crushed by a falling wall. In addition to the eight killed in 2009. The first ICESat revealed that sea ice was thin- ning, and ice cover was disappearing from coastal were let go after news of the sale first broke on tion and power outages. The extent of the storm’s destruc- the Philippines, a woman was swept out to sea in Taiwan. tion was only beginning to be known, with reports of areas in Greenland and Antarctica. In the intervening the blog of a Cuban journalist. A group of “young, “Among all the typhoons this year, this one (Mangkhut) nine years, an aircraft mission called Operation husky people” who were “organized in a quasi- dozens of rain-soaked hillsides collapsing, torrents of out- is the strongest,” Japan Meteorological Agency forecaster of-control floodwaters and people being rescued from IceBridge, has flown over the Arctic and Antarctic, military” way appeared at the store and bought Hiroshi Ishihara told AFP on Friday. “This is a violent taking height measurements of the changing ice. inundated homes. 150 cases of 100 apples, according to journalist typhoon. It has the strongest sustained wind (among the But a view from space - especially with the latest Iorel Sanchez, who said all the fruit was for a sin- More than 105,000 people fled their homes in the typhoons of this year).” Survivors were traumatized by the technology - should be far more precise. An update is gle customer. The buyer paid the equivalent of 45 largely rural agricultural region, which is one of the confrontation with the monster storm. “It felt like the end of particularly urgent since global average temperatures cents per apple, according to receipts published in nation’s top producers of corn and rice. Mangkhut was the world... that was stronger than Lawin”, said Bebeth have climbed year after year, with four of the hottest the blog post. Granma said eight employees of the packing sustained winds of 160 km per hour and gusts of Saquing, 64, using the local name for Super Typhoon years in modern times all taking place from 2014-2017. store had been dismissed. — AFP up to 195 km per hour as it hurtled across the sea towards Haima, which was one of the most powerful storms of 2016. Continued on Page 24 China’s heavily populated southern coast. An average of Continued on Page 24 2 Local Sunday, September 16, 2018 Kuwait’s book banning outrage: Protesters lament ‘damaged’ Kuwaiti literary pride
By Jeri Al-Jeri
KUWAIT: The information ministry banned 4,000 books from 2013 to 2017, some over religious sensitivities or political reasons, and others for violent or explicit content. People in Kuwait enjoy freedom of speech and have a great sense of pride about it compared to other Gulf and Arab countries, apart from Lebanon and Tunisia. However, academics, amateur researchers and the average book enthusiast have felt this special Kuwaiti literary pride has been damaged over the past few years. Yesterday, protesters wore black blindfolds and held up placards expressing their opinions about what they think is an excessive banning of books. Kuwait Times inter- viewed some of these protesters, including Adnan Al- Abaar, a highly-educated Kuwaiti; Dr Fatima Al-Matar, who was very enthusiastic about this issue; Zahra Al- Qattan, a young Kuwaiti woman with a cheerful attitude despite her challenging health condition; and Eman Al- Salam, a trilingual Kuwaiti.
Kuwait Times: Why do men and women feel the need to KUWAIT: A group of citizens protest the information ministry’s book ban protest against the banning of books? during a rally outside the National Assembly’s building yesterday. — Photos Citizens hold placards against the banning of books. Abaar: Because it’s encroaching on our freedom to read by Yasser Al-Zayyat ideas that might oppose ours, and we consider this as a belittlement of our minds and intellects, and it further through which we can argue against these reasons, then reduces our liberties. they are basically telling us that the bans are arbitrary and Moreover, it jabs at the notion that we are able to capricious. choose for ourselves which books we want to read, should Qattan: For me, it symbolizes totalitarianism. Kuwait is a read, and ultimately, can read. democratic country according to the constitution. Matar: We are protesting today because of the unfair Salam: Restriction of ideas and freedoms. I am advocat- book banning and book censorship by the Kuwaiti min- ing age restrictions when buying books. istry of information. There have been 4,370 books banned by the ministry on grounds that these books contain text KT: Do you want parliamentarians to take action? that “might” influence youth against their religious beliefs, Abaar: Of course! That’s why Dr Fatima Al-Matar and I or “might” affect national security. Most books that are started the petition, which sends an e-mail of every signa- banned are novels. ture to some of the people we have chosen. (You can help Qattan: Mostly because I think Kuwaitis are not used to us by emailing me the names of parliament members and this idea of limited freedom, or having someone dictate to relevant decision makers and their email IDs, so I can add them what they should or shouldn’t do. them to the petition.) Salam: Because they want to prove that they have free- Matar: Members of parliament must take action. The dom of choice, and choosing books is one of its forms. media and publishing law no. 3 of 2006 puts too many “unconstitutional” limitations on what can and can’t be pub- KT: Is the ministry making a mistake by being overly lished. This law cannot be amended unless MPs vote on it. protective? Qattan: We want MPs to STOP making decisions that Matar: In my opinion, yes. In this day and age, banning limit our freedom and free will. books is fascist. The ministry has no right to dictate what we can and can’t read. The Kuwaiti constitution gave us free- In conclusion, the protesters feel that the government dom of choice, freedom of opinion and freedom of thought. should have more faith in them, and that this “overprotec- tive motherly attitude” will only bring about weak-minded KT: What does this ban symbolize? generations who cannot handle multiculturalism, or Abaar: In the simplest sense, it symbolizes tyranny. If viciously unruly degenerates who will go head to head A man holds a sign that reads “you are not our minds’ someone bans any book without providing sufficient evi- with anything religious or traditional for the mere A woman holds a sign with various book covers. guardians.” dence to justify it, and at least without a discussion vengeance for their freedom to read.
In another case, firemen dealt with a fire in a power trans- Activists stage Company fined former in Andalus. The fire started in a boat near the trans- former and reached the transformer, prompting Sulaibkhat and Ardiya centers to respond. No injuries were reported. protest against... KD 58,000 for Also, firemen put out a blaze in a Saad Al-Abdullah house state property without any injuries. Continued from Page 1 Traffic accidents encroachment Kuwait witnessed several traffic accidents in various Another book was banned because it contains the word governorates last month. Ahmadi had the lion’s share of God, although Kuwait respects all religions,” Matar added. fatalities with 10 people killed - four citizens and six non- “We chose this time for the sit-in as the book fair is By Hanan Al-Saadoun and Agencies Kuwaitis. A security source said statistics of non-felony approaching. And we set this location because they didn’t deaths with regards to traffic accidents in August saw 11 allow us to gather in front of the ministry as we did in our first KUWAIT: Director of the safety department in Mubarak Kuwaiti men and women killed, while 18 men of other protest. The police indirectly threatened us that they may Al-Kabeer governorate Maise Bushehri said a field tour nationalities as well as two women also died, bringing the cancel our gathering if the ministry demanded so. For the resulted in issuing a citation to a company that used state total deaths to 32 men and women. safety of the activists, we gathered here,” concluded Matar. property for offices and warehouses, and whose storage Author Buthayna Al-Eisa attended the protest holding a license had expired. The fine is of KD 58,000. Smuggling foiled book by Henry Muller, which according to her represents Interior Ministry’s Assistant Undersecretary for Reform the policy of the ministry in banning books. “He wrote a Eight people rescued Institutions Maj Gen Farraj Al-Zoubi sent a prison employ- book about books - The Books in My Life - which was The marine fire station, in cooperation with the coast- ee to the public prosecution for attempting to smuggle banned in Kuwait. My novel Kharayet Altayh (The Maps of Flames engulf a vehicle in Salmiya. guard, rescued eight Kuwaitis after their yacht hit a buoy heroin to her son, who is a prison inmate. The employee’s Loss) was banned two years ago and is still outlawed, near Mina Ahmadi. All of them were taken to shore in good 10-year-old daughter was also detained as she was used although it’s sold in all other countries including Saudi condition. Separately, firemen put out a fire in a room at in the smuggling attempt on the orders of her mother. The bag he had contained his medicine, but policemen found Arabia,” she explained. the Cosmo complex in Khairan. No injuries were reported. woman who wanted to visit her son was searched as well drugs in it. She published it in Beirut and couldn’t distribute it in The room contained plastic goods. In the meantime, South as the girl, and the heroin was found on the girl. The Kuwait. “The novel is about a boy who gets lost during the Salmiya fire station responded to a call about a fire in a employee said she was delivering the narcotic to her son. KD 3,000 watch stolen hajj pilgrimage, and an organ trafficking gang kidnaps him. It car and put it out, and was kept from spreading. In a separate case, police discovered two bags of drugs A citizen told police in Kabd that she suspects her maid tells how this gang was pursued and how the parents dealt Meanwhile, a vehicle caught fire in Sabah Al-Ahmad. The with a Pakistani at a checkpoint in Saad Al-Abdullah. The of stealing a watch worth KD 3,000. Police are working on with this situation. The censorship department accused my car was totally engulfed in fire and completely destroyed. Pakistani told police he has heart problems, adding a small the case. novel of provoking regime overthrow and not respecting pub- lic morals. Simply, it’s a Taleban-esque policy,” Eisa said. Adnan Abbas, a Kuwaiti who participated in the protest, said it’s not correct to prevent people from reading certain books. “I think that if one or few books are immoral, they still shouldn’t be banned. Instead we can counter these books Ministry files 449 with other correct books. This ban and censorship have badly affected the community. In the end, people can still buy these real estate fraud books outside Kuwait and read them. We are already facing difficulty in finding books that are not banned, and now more complaints books are being banned. This is really unacceptable,” he said. By Meshaal Al-Enezi
KUWAIT: The Ministry of the Commerce and Industry (MoCI) referred 449 Disabled care complaints concerning real estate fraud to the public prosecution. The min- istry explained that the citizens filing the complaints had purchased proper- ties from some companies they described as ‘fake’. MoCI stressed that since privileges limited coming to office, Minister Khaled Al-Roudhan had been working on fighting until retirement real estate fraud. Integrated plan By A Saleh On direct instructions from Kuwait Fire Service Directorate (KFSD) Director Lt Gen Khaled Al-Mekrad and following several accidents in the KUWAIT: Finance Minister Nayef Al-Hajraf stressed that southern islands during holidays and weekends, the marine rescue depart- the privileges given to people assigned to care for rela- ment has developed an integrated plan to secure the islands by providing tives with special needs are limited until retirement. Hajraf enough fully-equipped rescue boats and gear. The plan will overcome pre- also noted that according to articles 2 and 3 of law number vious obstacles resulting from the islands’ remoteness and the number of 8/2010, the privileges, including health, educational and visitors to those islands during holidays. The plan also includes having boats employment care, are only for Kuwaiti citizens and the readily available at and around Kubbar and Um Al-Maradem islands to han- children of Kuwaiti women. dle any contingencies.
Constructional faults Technical mistakes The Ministry of Education’s educational construction Chairman of the Federation of Kuwaiti Engineering Offices and sector listed issues of South Surra schools on top of its Consultant Houses Bader Al-Salman urged Information Minister Mohammed priorities, said Yousef Al-Najjar, undersecretary for edu- Al-Jabri to investigate the production and broadcast of a report aired on cational facilities, noting that four of the area’s schools KTV1’s Good Morning Kuwait show about the ministry of justice’s building. have minor constructional faults concerning insulation. He accused the program’s editor and presenter of committing several techni- Najjar added that the four schools’ maintenance contract cal mistakes and excluding the role played by local engineering offices and has expired and that a special meeting was held with consultant houses in executing development projects. Salman also urged the Ministry of Public Works (MPW) engineers to contact the minister to take the matter seriously and hold whoever is responsible for contractor and resolve the problem. marginalizing local engineering offices accountable because these offices KUWAIT: The general coordinator of security committees and director of Mubarak Al-Kabeer fire and houses are the ones that design and supervise state and private sector brigade Mohammad Al-Mahmeed held an inspection tour of several husseiniyas in the Capital, New police stations projects. Salman also urged Minister of Public Works Hosam Al-Roumi to Hawally and Mubarak Al-Kabeer governorates to check the fire plans that were distributed to them. Well informed security sources said that the Ministry of stop ministry engineers from designing projects and make them only super- Mahmeed also received Interior Ministry Assistant Undersecretary for Immigration and Passport Interior will soon open three new police stations in vise the projects’ execution as representatives of the owner. Affairs Maj Gen Faisal Al-Nawaf, who checked several security stations. — By Hanan Al-Saadoun Ahmadi, one in Mangaf and two in Sabah Al-Ahmad City. Established 1961 3 Local Sunday, September 16, 2018 Zain’s internal innovation e-platform, Zainiac, selects three initiatives to incubate towards commercialization The brainchild of Bader Al-Kharafi, Zainiac is aimed at tapping into Zain’s human resources
KUWAIT: Bader Al-Kharafi with the successful Zainiac innovative ideas winners.
KUWAIT: Zain Group, the leading mobile telecom ment and submitted to Zain Group senior executives to ther development comes from Ali Zreik from Zain’s initiative aimed at Zainers and accessible via the com- innovator in eight markets across the Middle East and mentor and develop their value proposition and busi- managed operation in Lebanon, touch, and is called pany’s human resources application, to enable dona- Africa, is pleased to announce it is offering full financial ness models. These ideas were then pitched to the Farhetna. It is a concept startup set to help newlyweds tions towards needy colleagues. Zainers requiring and strategic support to three startup initiatives, which Vice-Chairman and Group CEO, and three were green- and their wedding guests in the collection and payment financial support can register on the app and col- have been generated through the company’s innovative lit to receive the full support and funding from Zain. of money and gifts towards the wedding utilizing the leagues are able to offer donations in response to the internal ideas generating e-platform, Zainiac. Commenting on the selection of the three ideas for telco’s online and offline channels. Through touch’s self- requests for assistance. The plan is for the ZGiving plat- Zainiac was originated and introduced in late 2017 commercialization, Bader Al-Kharafi said, “This genera- care application and offline branches, Farhetna will fea- form being introduced in phases across all operating by Zain Vice-Chairman and Group CEO, Bader Al- tion of successful innovative ideas will become one of ture capabilities such as the management of wedding- companies, starting in Jordan. Kharafi, to act as an internal e-platform and community the greatest differentiators related activities; browsing The introduction of the Zainiac platform is another for all Zain Group personnel (Zainers) where ideas are between societies that of different merchant cate- step forward by Zain aligning to its brand values and shared, and solutions are created aimed at stimulating progress into the future. We gories (flowers, venues, Corporate Sustainability and Empowerment objectives, creativity within the company. The platform allows are very clear in our view catering, photography, etc.); as well as the company’s active investment in delivering Zainers across the Group on a bi-annual basis to sug- that for Zain to remain inno- To remain as well as the ability to sub- on its strategic digital lifestyle aspirations. gest innovative ideas, share challenges, and collaborate vative and competitive, we mit gifts and payments online Early in May 2018, Zain opened its second Zain in a bid to achieve common goals. need to generate ideas from innovative, we need or through physical locations Innovation Centre (ZINC) co-working hub in Kuwait To date more than 300 initiatives and project ideas wherever we can find them across Lebanon. following the success of ZINC Jordan. The is the first of have been submitted with the main aim of the initiative and seeking them out inter- to generate ideas The second initiative to its kind in both Kuwait and Jordan provided by a cor- being to promote internal innovation and motivate nally is one of many prudent be escalated under Zainiac porate entity, ZINC encourages young minds to think Zainers to start new businesses, and hopefully become options we undertake.” was devised by Abdullah and act creatively outside of the norm in an open, sup- the next unicorns in our region. Furthermore, Al-Kharafi Dashti in Bahrain and is portive environment with the view to creating the right The Zainiac platform is an acknowledgement of the added, “We are pleased to called FindurSeat. It is a atmosphere for entrepreneurs to generate new ideas huge talent pool assembled within Zain Group, and have reached this milestone stage in the Zainiac initia- bilingual, web-based educational platform aimed at and develop them into viable opportunities. aims to promote synergies among country operations, tive, which gives us a clear indication of the impressive students in the Middle East to help them search and Through Zainiac and ZINC, Zain provides aspiring leveraging the benefits of crowd-sourcing of new ideas talent and creativity that exists within Zain across our apply for different academic institutions in an efficient entrepreneurs and startups from within and outside of and business models. As part of the initiative, Zain footprint. I would like to thank everyone at Zain for manner. FindurSeat also serves as a hub for finding the company all its available resources, including organizes workshops with leading global partners and their input into and support of the e-platform as well as scholarships within the GCC and will act as the focal attracting major global pioneers and mentors from mentors which focus on establishing and fostering for the contribution of ideas, and wholeheartedly con- point for students to engage with tutors for extra cur- across the digital value chain, inclusive of Zain senior startup competencies. gratulate the originators of the three initiatives we are riculum courses. management, to assist in the incubation process of In the first cycle of entrepreneurial ideas submitted taking forward.” The third, Abdullah Abu-Karaki and Talal Al Turk startups, bolstering youth entrepreneurship and the to Zainiac, four were short-listed for further develop- The first innovative initiative to be picked up for fur- from Jordan submitted the idea - ZGiving - an internal region’s startup ecosystem. Kuwait voices guarded optimism toward conditions in Somalia
NEW YORK: Kuwait has applauded noticeable NEW YORK: Kuwait Permanent Representative at improvement in relationship among State institutions in the United Nations Ambassador Mansour Al-Otaibi Somalia but has voiced conservative optimism toward addresses a session by the United Nations Security conditions in the African nation in shadow of recurring Council (UNSC) dedicated for Somalia. —KUNA terrorist attacks. This improvement in the relations among the Somali institutions has prompted the Arab League to laud the national conciliation and support Positive developments that have taken place in the the development scheme, as stipulated in the League African Horn will be helpful for boosting peace and Resolution passed in April, said Kuwait Permanent security in the region, he said, praising recurring recip- Representative at the United Nations, Ambassador rocal visits by leaders of the regional countries. Mansour Al-Otaibi. Although the envoy sounded upbeat with respect of The Arab League resolution expressed support for latest positive occurrences there, he indicated that he stability in Somalia and urged Arab countries provide would maintain guarded optimism due to a recent all forms of backing for the Somali Government, said report by the UN Secretary General expressing con- Ambassador Otaibi, addressing a session by the United cern at some tragic events in Africa, namely in Somalia. Nations Security Council (UNSC) dedicated for A spate of terrorist attacks on the Somali capital Somalia. Ambassador Otaibi added that during the spur concern. “We renew our condemnation in 150th session of the Arab League Ministerial Council, strongest terms of these acts as we denounce the ter- held in Cairo recently, the council chairmanship called rorist Al-Shabab Movement, architect of these hairy on Arab States to support the elected Somali actions,” Otaibi said. “We also praise in this regard Government and coordinate with it for boosting devel- brave role undertaken by the National Somali Army and opment and peace in the African nation. the African Union Mission to Somalia (AMISOM) for The Kuwaiti envoy expressed support for the Somali confronting the hazards threatening Somalia and pro- Government efforts to overhaul the economy, despite tecting the people and their institutions, admiring their difficulties, noting in this respect calls by the Arab sacrifices and praying for souls of the deceased.” League to Arab funds and organizations to help the Otaibi expressed satisfaction at jurisdictions’ shift Somali Government in its efforts to improve conditions from AMISOM to the National Army and forming a throughout the country. He renewed the call for a uni- core police squad. “As we heard from the African Union fied stance by the UNSG Member States for support- permanent observer yesterday, we affirm that the coop- ing Somalia’s sovereignty, independence and territorial eration between the Union and the United Nations pro- integrity, noting necessity of securing material and vides further opportunities for strategic cooperation in political support for the African country. the African continent,” he concluded. — KUNA
the company, its employees, and equipment were under Maintenance license scrutiny by the inspection agency. Jassem noted that the decision to lift the suspension in less than five months indicates the dedication of for European planes Kuwait Airways employees in their service, which would enable the company to maintain a high-ranking position, re-activated excellence, and its commitment to safety of its proce- dures. Jassem stressed importance on Kuwait Airways keenness to implement all international maintenance KUWAIT: Kuwait Airways announced recently receiv- requirements and safety of aircrafts, as well as keeping ing a decision from the European Aviation Safety pace with the latest procedures to ensure the safety of Agency (EASA) to re-activate its maintenance license aircrafts and operations. for European aircrafts, which was suspended by the Meanwhile, Kuwait Airways announced that passenger agency since last April 19th.”The decision to lift the seats’ booking on its flights from Rafic Al-Hariri Airport suspension came after an inspection tour conducted by (Beirut International Airport) to Kuwait International EASA on the main maintenance base at Kuwait Airport reached 95 percent in August compared to 82 International Airport and a number of external stations percent same month last year. Abdullah Al-Huwailah, the where the company performs aircraft maintenance airline’s regional director for the Middle East and North services,” Yosif Al-Jassem, Kuwait Airways Chairman, Africa, said in a press statement that the rates were 82 said in a statement. percent in July against 70 percent in July 2017. As to the Jassem added that the inspection tour conducted by flights with Egypt and Turkey, the proportion soared to EASA officials affirmed on Kuwait Airways’ commitment 100 percent, As with Jordan, it stood at 80 percent. to implementing laws and decisions in regulating aircraft Kuwait Airways organizes 11 flights per week between maintenance procedures and maintaining its safety. Kuwait and Lebanon, he said, adding that the passengers’ Jassem also pointed out that all procedures, records of booking would remain high next week. — KUNA 4 Established 1961 Sunday, September 16, 2018 Local
Photo of the Day
KUWAIT: A fisherman enjoying a tranquil sunset at a beach in Kuwait. —Photo by Basheer Al-Khairallah (KUNA)
Kuwaiti General Consul in Irbil Dr Omar Al-Kandari. Amir’s UN honoring Irbil Governor Nawzad Hadi Mawlood, who attended the ceremony, expressed gratitude to Kuwait for the ongo- ing support for Iraq, particularly the Kurdistan region. spurs Kuwait’s Kuwait has dispatched scores of aid-bearing convoys to various Iraqi regions. Among the activities was treating more than 500 patients. In Jordan, Kuwaiti Ambassador philanthropy Abdulaziz Al-Daihani delivered to King Hussein Cancer Foundation $1.6 million worth of cash aid to support full KUWAIT: The fourth anniversary marking United Nations medical care for patients. The ambassador, in remarks on honoring of His Highness the Amir Sheikh Sabah Al- sidelines of his meeting with the foundation General Ahmad Al-Jaber Al-Sabah with the title ‘Leader of Director Nisreen Qatamesh, affirmed Kuwait’s keenness on Humanitarian Action’ has spurred further latest Kuwaiti supporting various relief and charitable activities in the philanthropic activities at diverse levels. Last week’s Middle East and the world. The humanitarian Kuwaiti ges- humanitarian activities capped with Kuwait donating ture toward Jordan coincided with the fourth anniversary neighboring Iraq four ambulances and medical equipment of the United Nations’ designation of His Highness the worth $1.8 million, as part of a campaign dubbed ‘Kuwait Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah as by your Side’. The handover, which took place in a cere- ‘Leader Humanitarian Action’ and Kuwait as ‘Center of mony held in Baghdad’s Green Zone, was attended by Humanitarian Action’. Qatamesh lauded the continuous Secretary General of the Iraqi Cabinet Mahdi Al-Alak, Kuwaiti aid at official and grass-root levels, depicting Kuwait’s Ambassador to Iraq Salem Al-Zamanan, Iraqi depth of the relationship between the two countries. officials and a representative from the Kuwait Red As for Yemen, Kuwait Red Crescent Society (KRCS) Crescent Society (KRCS). inaugurated a philanthropic project for relieving Yemenis, Alak said in a statement during the ceremony that such relocated from the embattled province of Al-Hodaiah — in donation and humanitarian support from Kuwait would coordination with King Salman Relief Center, said Maha help in areas liberated from the so-called Islamic State Al-Barjas, the society Secretary General in a statement. (IS).”Such initiative for Iraq has been taken by the State of The KRCS has distributed 10,000 food parcels to 5,000 Kuwait and His Highness the Amir Sheikh Sabah Al-Ahmad families affected with the events in Al-Hodaidah. Al-Sabah who is keen on providing support for Iraq,” Al- Mohammad Al-Enezi, head of the KRCS delegation to Alak added. Yemen, said the activity was in line with instructions by His Meanwhile, Ambassador Zamanan said that this cam- Highness the Amir, affirming that the charitable actions paign, which was first initiated by His Highness the Amir, would continue in regions such as Hais, Al-Khokha and Al- aims to help the Iraqi people recover from difficult times Tahtiah. As to Turkey, Kuwaiti Al-Najat Charity declared and crises, which resulted in destruction and loss of many paying studies’ costs for 2,400 Syrian refugees. Ibrahim vital services needed due to the brutal acts of the IS ter- Al-Badr, the society director for external education, said rorists. “The people of Kuwait had supported Iraq since that the society opened schools in several countries, 2003 through humanitarian operations and an allocation of including two in Turkey. Three more schools will be estab- $500 million, and was handled back then by Kuwaiti lished in Turkey soon. Moreover, the Kuwaiti society spon- Ambassador Ali Al-Mumen,” Zamanan added.” The move sors 50 university-level students outside Kuwait, Badr continued through Kuwait’s contribution and through said, affirming particular concern for securing necessities Kuwait’s campaign beside you,” the ambassador noted. for the Syrian refugees. Bader, accompanied by the socie- Also in Iraq, Kuwait covered costs of prostheses for ty General Director Dr Mohammad Al-Ansari, inspected 460 persons who were seriously injured in areas previous- Al-Najat School in border village of Shanly. In Ghana, a ly controlled by the IS. In the fifth phase of this initiative, ceremony was held at the Kuwaiti embassy headquarters Kuwaiti Society for Relief paid for fitting prostheses to 50 in the capital — attended by Kuwaiti Ambassador Iraqis, who took part in a celebratory swimming tourna- Mohammad Al-Failakawi who handed $150,000 worth of ment. “Many Iraqis were hurt under [Daesh’s] control and cheques to the executive director of the social care society now after war dust dissipated came the phase for restoring Mansour Abu-Zaid. The money had been donated by hope for those who were victims of criminal acts,” said Kuwaiti citizens.
Syrian refugee children draw Kuwait’s flag during a ceremony held by Kuwaiti Al-Najat Charity in Turkey. —KUNA 5 Local Sunday, September 16, 2018 People with special needs: Kuwait’s greatest potential Calls for more support of staff working with special needs individuals
KUWAIT: While the social perception of people with special needs might veer towards sympathy and sorrow, most of these individuals usually shatter the molds of misconception in the form of academic, career, and ath- letic feats surpassing those of their abled counterparts. Similar to their peers, people with special needs in Kuwait aspire for greater things in life, but as much as other people; they face certain obstacles in the way of achieving their dreams. A number of employees with special needs, activists, and government executives have expressed their desires to bring down all barriers between abled and disabled individuals for the common goal of solving problems and developing the country.
Bringing out the best Mona Al-Azmi, an Arabic language special needs teacher, said that her career required from all educators Ali Thwaini Fahad Al-Enizi to be fully acquainted with the requirements of their stu- Anwar Al-Ansari dents to bring out the best in them. Some school admin- istrations have almost a vague concept of what actually occurs in special needs schools, said Azmi who stressed that it was crucial for the ministry to choose the right type of teachers for the job; otherwise, the only person They have who suffers the consequences would be the student. Speaking of the future, Azmi indicated that people with every right special needs lacked job opportunities that would release their true potential, affirming that it was time for to attain society to give such individuals their full support. Similarly, history teacher Fahad Al-Enizi said that important special needs’ schools lacked adequate components that were necessary for the educational process of positions disabled people. When decision-making is handed to individuals with no prior experience of the wants of people with special needs, the results will normally be On the flipside of the coin, Citizens Service Center catastrophic, said Al-Enizi who called for better Employee Ahmad Al-Sarhan said that though the per- assessment and treatment of this important and pro- sonal road of triumph against the odds was long and Issa Al-Qallaf Hanadi Al-Omani ductive sector of society. overwhelming, he managed to prove himself at work. People with special needs have every right to attain Lack of facilities important positions if able to attend to duties adequate- needs individuals must be respected and not tampered keenness on supporting people with special needs, top Meanwhile, Issa Al-Qallaf - an employee in Kuwait ly, said Sarhan who lauded the government’s keenness on with, or else great injustices would befall. executive at the Public Authority for the Disabled University (KU) - said that his profession was not in supporting disabled individuals. Anwar Al-Ansari said that the authority launched a alignment with his aspirations and dream, but what made On social awareness responsibility, Secretary of the Helping hand campaign in May to encourage the employment of peo- it worse was the lack of facilities at the workplace that Kuwaiti society for the special needs and activists, Ali On the legal side of the matter, attorney Hanadi Al- ple with disability. catered to his need as a person with a disability. He indi- Thwaini said that it was important to spread the word in Omani said that disabled individuals need to carry their Being with special needs did not mean an individual cated that it would be very difficult to address the needs regards to the requirements of people with special demands to the wider public and legal authorities in could not be productive, said Ansari who affirmed that of KU clients if the necessary equipment were not avail- needs. Legislations and laws should be catering for all Kuwait. For them to ensure their rights, people with the authority had succeeded in securing hundreds of job able especially for people with special needs. The abili- proponents of society including people with special special needs must table their demands for job oppor- opportunities for this special sector of society. With ties and potential of disabled individuals should not be needs, said Thwaini who indicated that infrastructure tunities and other rights, affirmed Omani who added everything put into perspective, people with special frowned upon because they could surprise many people, and facilities throughout the country must be either that lawyers and activists must provide a helping hand needs in Kuwait will never stop their quest for more affirmed Qallaf who called for more support towards upgraded or established to help disable individuals to to support disabled people during their educational, equality due to their enormous capabilities and vast special needs people. give back to Kuwait. He added the rights of special academic or career paths. Reflecting the government’s potential. — KUNA
NBK Children’s Hospital organizes ‘Safety in Cancer Care’ conference
KUWAIT: NBK Children’s Hospital in collaboration with National Bank of Kuwait organized yesterday a conference on the occasion of the international Patient Safety Day titled ‘Safety in Cancer Care’. The confer- ence extends for three days at the hospital, in Al-Sabah Medical Specialty Region and focuses on safety prac- tices and the improvement of patients’ safety. Sound-alike Medication Names, Control of Dr Maitham Husain, Director of NBK Children’s Concentrated Electrolyte Solutions, Assuring Hospital, said “NBK Children’s Hospital Conference Medication Accuracy at Transitions in Care, Single Use aimed to integrate the best practice in patients’ safety.” of Injection Devices, Improved Hand Hygiene to Prevent “We aim to increase awareness about the skills and Infection, Avoiding Catheter and Tubing Miss-connec- tools available to achieve best practices in health safety. tions and Performance of Correct Procedure at Correct Through collaboration and technology as a powerful Body Site. tool, we can reach the best practices to deliver to our In addition, the conference hosted several work- patients,” he added. shops focusing on raising safety awareness. Celebrating Dr Eman Al-Jafar, Department of Health Informatics the International Patient Safety Day, the conference and information Management at Kuwait university said: held a side activity to the patients to go in line with better medical documentation of patient history will International Patient Safety Day to increase awareness improve the decision and decrease medical errors due about safety, hygiene, ways to prevent microbes and to lack of information. harmful effects. The conference comes in line with the bank’s social The conference was organized by specialists from responsibility towards the hospital and to improve the the Ministry of Health, the Blood Bank, Kuwait Society safety practices in order to meet the nine patient safety of Engineers, Kuwait Association for biometric engi- solutions that include: Patient Identification, neers, Kuwait Public Health Society and Kuwait Communication During Patient Handovers Look-alike, University. InternationalSunday, September 16, 2018 In Sicily, pope denounces ‘Nowhere to worship’: Crackdown bedevils China’s Catholics Page 9 ‘blasphemous’ mafia Page 8
NEW BERN: The Neuse River floods a street in New Bern, North Carolina, on September 14, 2018 during Hurricane Florence. —AFP Florence unleashing ‘catastrophic’ floods More devastating flooding forecast from slow-moving storm
WILMINGTON: Tropical storm Florence caused “cata- ‘We are coming to get you’ strophic” flooding in the Carolinas yesterday even as it As of 5:00 am (0900 GMT), maximum sustained winds began to weaken, after resulting in multiple deaths, includ- had weakened to near 50 miles per hour, but the NHC warned ing a woman and her baby killed when a tree fell on their residents of dangerous storm surges and “catastrophic flash house. Four deaths were confirmed by officials as flooding.” “Flash flooding will be extreme and flood waters American media reported another, and the storm has will come up quickly and seemingly out of nowhere,” the gov- wreaked havoc in the Carolinas, lashing the US states with ernor said earlier. “We’re deeply concerned for whole com- torrential rain and causing rivers to burst their banks. munities which could be wiped away.” “Florence slowly weakening just inland over eastern Some of the worst flooding was in New Bern, a town of South Carolina but causing catastrophic flooding over 30,000 in North Carolina at the confluence of the Trent and North and South Carolina,” the National Hurricane Neuse rivers, where hundreds of people needed to be res- Center (NHC) said early yesterday morning, after down- cued after becoming trapped in their homes by a storm grading it from a hurricane to a tropical storm the previ- surge of up to 10 feet. “WE ARE COMING TO GET YOU. ous day. North Carolina Governor Roy Cooper had said You may need to move up to the second story, or to your that “several more days of rain” were expected, describ- attic, but WE ARE COMING TO GET YOU,” the authorities ing the amount of rainfall from the hurricane as a in New Bern said on Twitter. “1,000-year event.” There have been “several hundred” rescue operations, “Into next week our rivers are going to continue to Governor Cooper said. Besides federal and state emergency rise and there will be more significant flooding,” Cooper crews, rescuers were being helped by volunteers from the said. There had been three “Cajun Navy” who also turned up confirmed deaths from the in Houston during Hurricane storm and several others Harvey to carry out water rescues. were being investigated to Hurricane Florence made landfall as determine if they were Rivers are a Category 1 storm in Wrightsville storm-related, he said. The Beach, North Carolina, after stalk- mother and her baby were going to ing the Carolina coast for days. The killed in New Hanover NHC said Florence had the poten- County when a tree fell on continue tial to dump historic amounts of their house, the governor rain on North and South Carolina, said, while confirming to rise as much as 40 inches (one meter) in another death in Lenoir some places. Tornadoes are also a County. threat, with the NHC saying that “a Local authorities few tornadoes are possible in reported a death in Pender County when downed trees southeastern North Carolina and northeastern South Carolina.” prevented emergency units from reaching a woman with a medical condition. Local media said she had suffered a Downed trees and power lines heart attack. US media later said a second man in Lenoir In Wilmington, near where the eye of the storm touched County died after heavy winds knocked him down as he down, trees and power lines were felled and many windows tried to check on his dogs. “This storm is going to continue were broken. The streets were mostly deserted and some were its violent grind across our state for days,” Cooper said. blocked by fallen trees. The city awoke Friday to the sound of More than 760,000 customers in North Carolina were exploding electrical transformers with strong gusts of wind without power and 21,000 people were being housed in throwing street signs and other debris as well as water in all 157 shelters across the state. The White House said directions. Mason Tarr said he spent the night at a friend’s house President Donald Trump was to visit hurricane-hit areas but didn’t sleep well. “Our house is on high ground so we’re not next week “once it is determined his travel will not disrupt worried about the flooding,” he said. “But there are a lot of big any rescue or recovery efforts.” “Great job FEMA, First trees around so we preferred to spend the night at a friend’s to Responders and Law Enforcement - not easy, very dan- be sure. “We’re out of power so we spent the first few hours of gerous, tremendous talent. America is proud of you,” the day playing board games with candles.” About 1.7 million Trump tweeted on Friday, referring to the Federal people in North Carolina, South Carolina and Virginia are under Emergency Management Agency, which responds to dis- voluntary or mandatory evacuation orders, and millions of oth- asters in the United States. ers live in areas likely to be affected by the storm. —AFP
angles, while uprooted trees blocked roads. Corrugated steel Terror in the path of roofs shivered and bounced in the continuing gusts. Authorities were just beginning their surveys of the damage yesterday after- noon. Convoys were heading out on the winding roads of the Typhoon Mangkhut rural area, which produces a significant portion of the nation’s corn and rice. Fear was widespread among many of the estimat- TUGUEGARAO: Bebeth Saquing has seen dozens of storms in ed four million people in the storm’s path long before it made her lifetime, but nothing prepared her for the terror of Super landfall. Thousands of people evacuated high-risk areas follow- Typhoon Mangkhut as it roared over her Philippines home yes- ing major flooding and landslide warnings. terday packing winds of more than 250 kilometers per hour. The Myrna Parallag and her two young grandchildren fled their most powerful storm to hit the region so far this year left a trail of home a day before Mangkhut struck. “I’m afraid that the battered homes, landslides and fallen trees in its wake. floodwaters will be high and will reach our house,” the 53- At least four people were killed as the typhoon smashed year-old told AFP on Friday as she looked for shelter near the across the rural north of the country, a farming area home to mil- city of Tuguegarao. This was not her first storm. Parallag sur- lions. “It felt like the end of the world... that was stronger than vived Lawin, also known as Super Typhoon Haima, but it Lawin”, said Saquing, 64, referring to a powerful super typhoon destroyed her house. “The newscaster said the typhoon now is which hit the region in 2016. “I did not sleep,” she told AFP by twice as strong,” added Parallag, who makes money selling phone from her home on Luzon, which withstood Mangkhut’s street food. Her worries and those of thousands of others were pounding. Evidence of the massive storm’s passage was every- well founded. The storm claimed its first victims yesterday, where yesterday. including two women who were buried when a rain-soaked Wind-struck power poles bent from the ground at odd hillside collapsed. —AFP Established 1961 7 International Sunday, September 16, 2018 Climate summit ends with a double-edged message ‘We are using the sky as an open sewer, it’s insane’
SAN FRANCISCO: Mayors, governors, entrepre- Zero-carbon future neurs, CEOs, investors and celebrities delivered a dou- But all these efforts may be in vain, the delegates ble-edged message Friday at the close of a climate warned, if national governments fail to do their part. summit in San Francisco: global warming is making the “Now is the time for all leaders to step up and take bold planet unliveable — but we know how to fix it. “We are action,” they said in an appeal framed as a Call to Action. using the sky as an open sewer, it’s insane,” former US “We call on the national governments of the world to vice president Al Gore told the conference, noting that step up ambition now... and chart a clear path to your humanity belches 110 million tons of heat-trapping pol- zero-carbon future.” lution into the atmosphere “We have enough critical every day. “Will we mass in the private sector change? That’s what the now to help spur that politi- Global Climate Action cal process,” said Paul Summit is all about.” Polman, CEO or Unilever, one Over three days, thou- Clean and of the world’s largest con- sands of delegates from the sumer goods companies. The private and public sectors green is 196-nation Paris Agreement, showcased policies and inked in 2015, enjoins nations innovations aimed at reduc- profitable to cap global warming this ing that flow of greenhouse century at “well below” two gases. Cities are converting degrees Celsius (3.6 degrees to all-electric vehicle fleets Fahrenheit), and to strive for and setting deadlines for a ceiling of 1.5 C if possible. banishing gas-guzzling cars from their roads; compa- With only one degree Celsius of warming so far, Earth nies have vowed to operate only with renewable ener- has seen a crescendo of deadly heatwaves, droughts, gy, including a few smokestack multinationals in the floods and superstorms engorged by rising seas. But UN developing world. talks to implement the treaty, which goes into effect in SAN FRANCISCO: A woman dressed as a tree stands in front of foliage on a residential street during the Global “Clean and green is profitable,” Mahendra Singhi, 2020, have stalled over disagreements on money to help Climate Action Summit. —AFP CEO of Dalmia Cement Ltd in India told AFP. Investors poor countries green their economies and brace for managing fortunes said they were purging coal, oil and unavoidable climate impacts. gas from their portfolios; young entrepreneurs showed More urgent still is the so-called “ambition gap” 3.5 C, scientists have calculated. not,” said David Paul, Environment Minister for the off energy-efficiency apps and inventions. Provincial between voluntary national commitments to curb carbon Marshall Islands. The transition to a greener global and state governors in tropical countries vowed to pollution, and what is needed to keep global temperature ‘Kick this monster’s ass’ economy has been hampered by US President Donald empower indigenous peoples who have been managing rises under 2 C. Even if all nations honor current pledges A climate summit convened by UN Secretary- Trump, who opted out of the Paris pact months after forests sustainably since before “sustainable” was even — many of which depend on climate finance that does General Antonio Guterres next fall “is what is going to taking office, saying it would pose a “burden” on the a word. not yet exist — the world will heat up by an unbearable determine whether we can save the Paris Agreement or US economy. — AFP
Iraq elects pro-Iran list Senate, as expected, Kavanaugh is candidate as speaker Trump SC likely to decidedly tilt the court to the conservatives for years to come. BAGHDAD: The Iraqi parliament elected the candidate of a pro-Iran pick denies Democrats fighting the nomination list as speaker yesterday, paving the way for the formation of a gov- say that could turn the court away ernment more than four months after legislative polls. The country has from guaranteed abortion rights, been in political paralysis since the May 12 ballot, but the election of a 1980s sexual against programs that benefit disad- speaker is expected to solidify new parliamentary alliances. Iraq has a vantaged minorities, and for greater proportional system aimed at preventing a slide back into dictatorship assault story presidential immunity from the law. following the 2003 ouster of Saddam Hussein. On Thursday, Senator Dianne The lists elected during legislative polls must first form coalitions. WASHINGTON: President Donald Feinstein, the senior Democrat on the The bloc with the most members appoints the prime minister and pre- Trump’s conservative pick for the Judiciary Committee, announced sides over the formation of the next government. The pro-Iran bloc led Supreme Court Brett Kavanaugh cryptically that she had forwarded to by Hadi Al-Ameri’s Conquest Alliance — a coalition of anti-jihadist denied Friday involvement in an alleged the Federal Bureau of Investigation veterans close to Tehran — looked positioned to take the lead yester- sexual assault on a woman while they “information from an individual con- day after the election of its candidate, Mohammed Al-Halbusi. The were in high school in the 1980s. In a cerning the nomination.” new speaker was governor of the Sunni-majority province of Anbar, a statement released to US media, The information came from an indi- key battleground in the war against the Islamic State group, before his Kavanaugh rejected the woman’s claim, vidual who wanted to remain anony- election to parliament on a local list in May. Born in 1981, he will be made in a letter to the Democrats vet- mous and had declined to press the BAGHDAD: This handout video grab taken from live footage released by the youngest speaker of parliament in Iraq’s history. His two deputies ting his nomination, that he tried to issue themselves, Feinstein said. the Iraqi Parliament yesterday shows newly-elected parliament speak- were expected to be chosen later yesterday. force himself on her during a party. According to an account in The New er Mohamed Al-Halbusi addressing the chamber in the capital During the vote, Halbusi pleaded for “real reforms”, particularly “I categorically and unequivocally Yorker, the incident happened while Baghdad. — AFP after demonstrations last week in the southern oil-rich city of Basra deny this allegation. I did not do this Kavanaugh, now 53, attended the elite turned deadly as protesters demanded improved public services and back in high school or at any time,” Georgetown Preparatory Catholic all- railed against corruption. In Iraq, the speaker of parliament is always Osama Al-Nujaifi and former Defence Minister Khaled Al-Obeidi. Kavanaugh said in the statement. The boys high school in suburban Sunni Arab while the prime minister is picked from the country’s Shiite Obeidi was backed by the list of outgoing Prime Minister Haider Al- allegation came just one week before Washington. The woman, from a near- majority and the president is a Kurd. Parliamentary coalitions — Abadi, who said Thursday he would not seek a second term as his the Senate Judiciary Committee is to by high school, was allegedly at a par- which bring together lists of Shiites, Sunnis and Kurds to form the political support crumbled over the violence in Basra. Basra has been vote on his nomination. If approved ty where the youths were drinking largest group — must agree on the selection of the three positions. at the epicenter of protests that broke out in July in the southern by the committee and the whole alcohol. —AFP Halbusi ran against three other candidates, including Vice President province before spreading to other parts of the country. —AFP
Turkish police detain protesting airport workers ISTANBUL: Turkish police have detained hun- dreds of workers protesting over labor conditions at Istanbul’s new airport, a giant project champi- oned by President Tayyip Erdogan and due to open next month, a union leader said yesterday. The protest broke out after a shuttle bus accident on Friday in which 17 workers were injured, said Ozgur Karabulut, general manager of the Dev Yapi-Is union. Thousands of workers joined the demonstration, which was broken up by police and gendarmes deploying in riot control vehicles and firing tear gas, he said. “They broke into the workers’ camp with 30 gendarmerie, broke down the doors and detained around 500 workers,” Karabulut told Reuters by phone. He said he was speaking from a local gendarmerie where he was seeking the workers’s release. Opposition parliamentarian Ali Bayar, from the pro-Kurdish Peoples’ Democratic Party (HDP), put the number of those detained at around 400. The workers’ quarters “look like a detention camp...When we went there this morning gen- darmerie soldiers were still detaining workers,” Bayar told Reuters. The new airport, which Turkey says will become the biggest in the world, is one of the showcase projects of a 15-year construc- tion boom under Erdogan who has overseen building of bridges, ports and railways which have transformed the country. The growth has been fuelled by cheap debt, however, and Erdogan said on Friday the government is freezing new invest- ments to rein in inflation and support the lira, which has lost 40 percent against the dollar this year. The airport is scheduled to open at the end of October, but Karabulut said that was in doubt because the remaining work would take another two months. — Reuters 8 International Sunday, September 16, 2018 In Sicily, pope denounces the Island’s ‘blasphemous’ mafia ‘You can’t believe in God and belong to the mafia’ PALERMO: Pope Francis denounced the mafia’s “blasphe- ‘Ex-communicated’ mous” existence yesterday during a visit to Sicily to honor a Since becoming pope in 2013, Francis has openly priest murdered by the mob 25 years ago while trying to save confronted the mafia and called on the faithful to stop youngsters in poor neighborhoods from falling into their all collaboration with them. Mafiosi are often practicing hands. The brief visit, which will see the 81-year-old pontiff members and benefactors of Catholic parishes. Prior to stay on the Italian island until evening, is part of a wider cam- arriving in Palermo, Francis stopped in Piazza Armerina, paign he has been waging against organized crime. a small impoverished town in central Sicily. “The “You can’t believe in God and belong to the mafia. wounds which afflict you are many, and they have a Those who belong to the mafia don’t lead a Christian exis- name: social and cultural under-development, the tence because their lives are blasphemous,” he said at an exploitation of workers and a lack of decent work for open-air mass near Palermo’s young people,” he said to port, where some 100,000 had widespread applause. gathered according to official Although he didn’t men- estimates. “Change! Stop think- tion organized crime, he ing about yourselves and your Openly spoke about “extortionate money, convert!” money-lending” and “gam- His impassioned plea confronted bling”. During a 2015 address echoed the words of Jean Paul in Naples, the notorious fief- II who during a May 1993 trip the mafia dom of the country’s oldest to the island had also called on organised crime syndicate mobsters to abandon crime the Camorra, Francis had also and urged Sicilians to revolt condemned those “who against the mafia. The mobsters exploit and corrupt young people, the poor and the dis- responded two months later with attacks on two advantaged”. In Calabria, another Cosa Nostra hotspot Catholic churches. Yesterday’s homily was held in honor in southern Italy, he had called on Catholics to combat of Father Giuseppe “Pino” Puglisi, who served as parish the local mob, known as the ‘Ndrangheta. “Those who priest in the rough Palermo neighborhood of Brancaccio in their lives follow this path of evil, as the mafiosi do, for two years, trying to engage local youngsters and are not in communion with God,” he said, declaring keep them away from drugs and the mafia suppliers. But them “ex-communicated” to thunderous applause PALERMO: Pope Francis gather his thoughts as he pays his respects by a quartz and bronze medal marking the on September 15, 1993 — his 56th birthday — he was from the 100,000-strong crowd. Ex-communication is shot dead at point-blank range. place where late priest Pino Puglisi was murdered in 1993, outside the house-museum of Puglesi, in the under- the severest penalty for Catholics, banishing them privileged neighborhood of Brancaccio in Palermo yesterday on the occasion of the 25th anniversary of the “I was waiting for you,” he reportedly said with a from the spiritual life and sacraments of the church. smile before dying on the doorstep of his modest home killing of the priest by the mafia. — AFP in Brancaccio, a neighborhood Francis will visit after Taking a stand celebrating mass. His murder came as Italy was still Local bishops have already ex-communicated mafia to bribe or influence priests, the misappropriation of the son of one of Sicily’s most notorious mobsters, Toto reeling from the killings of two anti-mafia judges. In members but the Vatican is considering creating a new resources from institutions and charities, and ques- Riina, to act as godfather at a baptism. 2012, Pope Benedict XVI officially recognized Puglisi as doctrine ex-communicating organized crime group tions over the purchase of Vatican real estate. But And in 2016, a priest in southern Italy who had want- a martyr, “killed by hatred of the faith”. The following members worldwide. Despite the papal rhetoric, rela- some local bishops are taking a stand. ed to hold a mass in memory of a ‘Ndrangheta mafia year he was beatified, in the first step on the path to tions between the church and organized crime groups Last year, the bishop of Monreale, near Palermo, boss was taken to task by the mayor, the archbishop sainthood within the Roman Catholic church. have often been ambiguous, with mafia types trying made headlines by criticizing a priest who had allowed and his parishioners. — AFP
forced to “impose a solution.” Since the Army influence right-wing Bolsonaro was stabbed by a left-wing activist while campaigning last week and subsequently confined to hospi- Hungary’s Orban on Brazil tal, his running mate has taken up the lob- bying reins. comes out fighting elections Bolsonaro, 63, remains in a serious con- dition and may not be able to return to the causes a stir campaign trail before the October 7 first after EU setback round, perhaps not even before the sec- ond-round two-candidate run-off three BUDAPEST: The European Parliament’s threat to RIO DE JANEIRO: With an ex-army cap- weeks later that he is expected to reach. unleash sanctions against Hungary over democracy tain leading polls, a reserve general picked That means Mourao’s profile, visibility and concerns was a stunning political blow against Prime as his running mate, and a military chief influence will grow. Minister Viktor Orban, but his dominance at home sticking his nose into the election chaos, means defeat can still be spun as a win. A resolution Brazil’s army has become an increasingly ‘General intolerance’ passed in Strasbourg Wednesday ruled that the conspicuous participant on the political The attack on Bolsonaro didn’t go Hungarian government posed a “systemic threat” to the scene. On top of that, the number of mili- unnoticed by his former military col- EU’s founding values of democracy and the rule of law. tary candidates across both the presiden- leagues, with army chief General Eduardo The vote, backed by Manuel Weber, the head of the tial and gubernatorial elections on October Villas Boas giving an interview to Estado European People’s Party — the grouping Orban’s 7 has almost doubled since the last vote, de S. Paulo warning that the climate of Fidesz party also belongs to — could in theory lead to up from 13 to 25, according to the influen- “general intolerance” surrounding the elec- Budapest being stripped of its EU voting rights. But tial Estado de S. Paulo newspaper. tions could “throw into question the legiti- RIO DE JANEIRO: Supporter of Brazil’s Workers Party (PT) and it’s imprisoned leader, Orban has pronounced himself unconcerned, telling In a country that suffered almost 20 macy of the next government.” former Brazilian president Luiz Inacio Lula da Silva, display an effigy reading domestic radio Friday there was “no danger” for years of military dictatorship from 1965- He also aimed a barb at jailed former “Political Prisoner” as they start gathering for a rally by the PT’s presidential candi- Hungary in the vote and that in any case he would help 84, there is understandable apprehension election front-runner Luiz Inacio Lula da date Fernando Haddad at Cinelandia Square. — AFP remove what he called the “pro-immigration majority” in the air. “After the dictatorship, the mili- Silva, whose exhaustive attempts to secure at European Parliament elections next May. tary was on the defensive for a long time, a spot on the ballot paper despite serving After the vote, headlines in pro-Orban media outlets but now they are more visible,” said a 12-year sentence for corruption extended dent already, the military chief would have army in February in an attempt to bring accused a coalition of liberals and allies of US billion- Nelson During, director at Defesanet, a even to petitioning the United Nations. been “sacked and put in prison.” under control spiraling deadly violence in aire George Soros of wreaking revenge against website specializing in defense affairs. Villas Boas hit out at the UN Human Rights favelas. But while it would be understand- Hungarians for daring to oppose migration. “The pro- Most worryingly, perhaps, is the fact Committee, which said that left-wing icon ‘Loss of credibility’ able for a population still scarred by 20 immigration side took revenge by cheating,” said that poll front-runner Jair Bolsonaro has Lula could not be barred from standing in A political science professor at Brasilia years of military dictatorship to fear a Magyar Idok, a daily newspaper considered a govern- spoken admiringly about Brazil’s military the election, for attempting “to violate University, David Fleischer, lays part of the political return of the armed forces, some ment mouthpiece. dictatorship and even its use of torture. It national security.” blame at the feet of incumbent President are willing to listen to “a discourse in which According to a TV channel owned by Orban ally and is no coincidence that he picked reserve In reaction to Villas Boas’s scolding of Michel Temer as his “loss of credibility,” as the military is less corrupt” than scandal- Hollywood film producer Andy Vajna, the premier was general Hamilton Mourao as his running the UN for meddling in Brazil’s election, well as implication in serious corruption tainted politicians “and could establish “cheered across Europe” after the ruling. In a debate mate, and thus potential vice-president, Folha de S. Paulo ran an editorial entitled: scandals, “could have contributed” to Villas order, peace and security,” according to prior to the vote, Orban portrayed the charges as an and has promised to name six generals to “Imprudence in uniform.” It ticked off Boas feeling the need to intervene. Sergio Praca, professor at the Getulio insult to the honor of Hungarians, but a poll in the left- his government if elected. Villas Boas for “these confused statements “Military visibility has increased greatly Vargas Foundation, a higher education leaning Nepszava newspaper Friday indicated some 57 Mourao is not just any general, either. that contribute in no way to calming” the these last few years because Temer’s gov- institute specializing in management and percent of respondents pinned the blame on government He caused an uproar with his veiled threat election chaos. That was soft and diplo- ernment has deployed troops several economics. Part of the population would policies. On the street, Hungarians revealed mixed feel- last year, amongst a raft of corruption matic in comparison to center-left candi- times” to maintain law and order, he said. approve of “military intervention” but ings. “It’s a national shame that it has got to this stage, scandals, that should the political situation date Ciro Gomes’s reaction, telling O Most dramatically, he put Rio de Janeiro Praca says that still leaves Brazil far from a that Hungary is on trial before Europe,” said Dezso continue to degrade, the army would be Globo newspaper that had he been presi- law enforcement under the command of the resurgence of the dictatorship. — AFP Hatvani, a shopper at a Budapest market, adding he hoped any sanctions are levelled at the government and not at ordinary people. “It was a stitch-up against Viktor, newspaper said they were men. Another he shouldn’t ever go back there to listen to such insults,” Three shot dead newspaper said two of the injured were Meduza. “This is a question of a said another shopper, 52-year-old Orsi Vinczeler. women. Four of the injured were hurt as the Activist awake large dose.” Such drugs are used to “This is a big defeat for Fidesz, particularly as the in Mexico City gunmen fled, Mexico City police chief treat a range of issues including party is not used to defeats,” said Csaba Toth of the Raymundo Collins told reporters. lung conditions. Verzilov’s relatives Republikon think-tank. “No matter how they try to spin “Nothing like this has ever happened after ‘poisoning’ have told media that he was not it — and they will use it for domestic political gain, tourist hotspot before,” said Samuel, a man who added that he taking any medication. strengthening their narrative that Hungary is under had worked for thirty years around the square MOSCOW: A member of the Pussy Verzilov served a 15-day jail sen- attack from Brussels — they hoped this resolution in one of the world’s biggest, most populous tence along with Nikulshina and MEXICO CITY: Gunmen with rifles and pis- Riot punk band who took part in the would not pass,” said Toth. The setback for Orban is cities, but declined to give his last name. other Pussy Riot members for run- tols killed three people on Friday and injured World Cup final pitch invasion and unlikely to change Budapest’s approach to its tangles Videos on social media and television showed ning onto the pitch during the July at least seven in a tourist plaza in downtown was hospitalized with suspected with the Soros-founded Central European University a heavy police presence, with the attack site 15 World Cup final in a protest they Mexico City, police said, adding that they poisoning, has regained conscious- (CEU) and human rights NGOs, or its clampdown on cordoned off and yellow markers where the said was aimed at highlighting abuse were chasing three men dressed as mariachi ness and left intensive care, his girl- judicial independence. —“If Orban before the vote did bullet casings fell, but dozens of people contin- by Russian police. Canadian Prime musicians who fled on motorbikes. After friend told Russian media. “Petya not promise any agreement or compromise, why expect ued to drink and listen to live music nearby. Minister Justin Trudeau on Thursday years of keeping a lid on the worst violent Police blame much of the capital’s crime (Pyotr) has regained conscious- that he will do it afterwards?” said Peter Kreko, head of said Ottawa was taking Verzilov’s ill- the Political Capital think-tank in Budapest. — AFP crime that has plagued Mexico, its capital on retail drug dealing and protection rackets ness,” girlfriend and fellow Pussy ness “very seriously” and would has seen homicides surge since 2014 to run by violent gangs, though the government Riot activist Veronika Nikulshina ensure he received support. record levels, presenting a major challenge says at least one of these has links to a major said Friday evening. to an incoming city government that has national trafficking group, the Jalisco New Pyotr Verzilov, who has both His sudden illness has been com- vowed a clean-up. Generation Cartel. Plaza Garibaldi borders Canadian and Russian citizenship, pared by Russian media to the sus- In a statement, police said the three vic- one of Mexico City’s most notorious neigh- was admitted to hospital following a pected 2015 poisoning case of tims were killed at an intersection on the borhoods, Tepito, home to La Union gang court hearing on Tuesday and later Kremlin opponent and rights edge of Plaza Garibaldi, a major tourist des- police say is behind a spurt in drug-dealing transferred to a Moscow trauma activist Vladimir Kara-Murza who tination packed with mariachi bars, just as and protection rackets. In August, police centre where staff described his was diagnosed with acute kidney the capital was kicking off independence arrested the presumed leader of the gang, condition as “serious”. Nikulshina failure. He was found to have very day weekend celebrations. The victims had Roberto Moyado Esparza “El Betito”. Since told Meduza news site he had been high levels of heavy metals in his been at a restaurant when the shooting then, the Tepito neighborhood has suffered a moved out of intensive care but was blood. Last year he once again fell started around 10 p.m., media said, adding wave of violence, including several killings. still experiencing hallucinations and into a coma, which his family said that forensic officials had counted more than Garibaldi, on the edge of the touristy, delirium. There has so far been no could be linked to the 2015 incident, 60 bullet cases at the scene. colonial historic center of Mexico City, is official statement on the cause of and went abroad for treatment. BUDAPEST: In this file photo taken on February 18, 2018 “People were screaming and running,” known for seedy strip clubs and dive bars, his illness. Nikulshina said Verzilov, Kara-Murza was involved in lobby- Hungarian Prime Minister and Chairman of FIDESZ party said a disabled woman who sells cigarettes aside from mariachis. In 2013, US civil 30, had been poisoned by a large ing in the United States for the Viktor Orban delivers his state of the nation address in in Garibaldi, shortly after having heard what rights leader Malcolm X’s grandson, amount of medicine. “It’s definitely expansion of the Magnitsky Act front of his party members and sympathizers at Varkert she thought were fireworks. She declined to Malcolm Shabazz, was beaten to death poisoning, poisoning with anti- which imposed sanctions on Bazar cultural center of Budapest. — AFP be identified. The identity of the three dead near the square after a dispute over a cholinergic drugs,” Nikulshina told Russian officials. — AFP was not immediately clear, but the Milenio nightclub bill. — Reuters 9 International Sunday, September 16, 2018 ‘There is nowhere to worship here’: Crackdown bedevils China’s Catholics Standoff has split China’s roughly 12 million Catholics
PUYANG: A government sign outside a Catholic church in The school was shuttered because “they want to pre- central China warns that children are not allowed to attend vent any cases of the church being involved in education”, mass. “Illegal” churches are being bulldozed. Priests are said a village leader who declined to give his name. handing over personal information about their flocks to Churches have also been told to hand over detailed infor- authorities. Roman Catholics in Henan province are run- mation about each of their members, including their ning out of space to worship as the atheist Communist finances and ties to “foreign influences”, according to government steps up a campaign to “Sinicize” religions paperwork seen by AFP. One senior priest who requested and demolishes old neighborhoods to make way for devel- opment projects. The campaign has intensified even as the Vatican and Beijing, which severed ties in 1951, are reportedly close to resolving a longstanding dispute over who gets to appoint bishops. The standoff has split China’s roughly 12 million Catholicism Catholics between those who follow government- approved prelates and those in “underground” pro-Rome is not native churches. A tattered poster of Jesus and a few wooden pews beneath bricks and broken planks are the only evi- to China dence that a church once stood in Puyang city before it was deemed an “illegal construction”. Liu Xueshang, a weath- ered old farmer who spent his life savings to help build it, searched fruitlessly through the fallen branches of the church’s crushed pomegranate trees for its cross. “The anonymity said the data would be used to set up an online church here is now facing a terrible future. We have religious management system and monitoring app. nowhere to worship and don’t know what we’ll do,” said Liu. Elsewhere in the province, nearly two dozen worship- Weeping in ruins pers and clergymen interviewed by AFP detailed unprece- Divulging the personal details of churchgoers has been dented measures imposed this year under new religious “a huge emotional burden on our clergy, who see it as a PANGZHAI: A man walks in the grounds of a closed kindergarten beside the Catholic cathedral in Pangzhai, in China’s cen- regulations. Crosses have been removed from church tops, sin,” he said, stating that guilt-ridden priests have come to tral Henan province. — AFP printed religious materials and holy items confiscated, and him in tears. Most of the new measures were developed to church-run kindergartens closed. Churches have been rein in Protestantism, which authorities believe has been answer requests for comment. The crackdown in the Catholic church expert at Hong Kong’s Holy Spirit Study required to display the national flag and constitution but growing “too quickly” in Henan, he cited officials as saying, province is amplified by the razing of old districts where Centre, said urban development is being “used as an take down religious imagery from public-facing spaces. although Catholics are finding themselves targets too. most churches are located to make way for development excuse to demolish churches”. In recent months, minors, college students and even Many Catholics in Henan, in eastern China, are paying projects. The rubble of the Puyang church lies in a con- Desperate underground priests have approached state- infants have been barred from entering all church premis- close attention to the negotiations between Beijing and the struction site for high-rise apartments. The decades-old sanctioned colleagues for help to secure a place of wor- es. On a recent Sunday at the officially-sanctioned Vatican. “We hope the religion problems can be solved, we church was built with official permission and had a license ship in exchange for nominal oversight. A state-approved Cathedral of the Sacred Heart in Anyang, an official from have the same faith, we want stability, we want to unite,” to operate, but authorities abruptly declared it illegal a few priest said the urbanization and demolitions mean “the the State Administration for Religious Affairs said she an underground church member said. Vatican spokesman months ago, said Liu, the farmer and local village leader. space in which the underground can exist is getting small- came to “inspect” as 800 people attended mass. Greg Burke said in a brief statement to AFP that “the dia- Without warning, bulldozers tore it down one night. er and smaller”. “We’re speaking with the underground “Catholicism is not native to China,” she said. And in logue between the Holy See and the People’s Republic of “The next day, all the old church members came and sat now — so as to protect them, not control them. This allows Zhifang village south of Puyang, authorities welded shut China continues”. here, weeping,” he said. A meagre compensation was not the government to know we’re monitoring them. This is our the entrance of a kindergarten in a church’s courtyard. The Henan and national religious affairs bureaus did not enough to secure a new place. Anthony Lam, a Chinese innovation in Henan.” — AFP
following their most recent applica- Rwandan oppn tions for clemency in June this year.” Ingabire returned from exile in The Indian forces kill five Netherlands intending to run for presi- leader freed dent in 2010 as leader of the FDU- suspected rebels Inkingi party. However, she was arrest- from prison ed, charged with terrorism and treason and sentenced to 10 years in jail during SRINAGAR: Indian forces in Kashmir killed five suspected rebels a widely criticized trial. Ingabire, an yesterday, during the disputed territory’s third major gun battle in as KIGALI: Rwandan opposition leader ethnic Hutu, was accused of “genocide many days. Hundreds of people thronged a site where security forces Victoire Ingabire was unexpectedly ideology” and “divisionism” after pub- had besieged a group of militants, throwing rocks at soldiers in a bid freed from jail yesterday after licly questioning the government narra- to help the rebels escape, witnesses said. President Paul Kagame granted her tive of the 1994 genocide of mostly One protester was also killed in the resulting clashes with troops early release, alongside more than Tutsi people that killed around in Qazigund village, north of Kashmir’s capital Srinagar. Kashmir, 2,000 other prisoners. “I thank the 800,000 people. On appeal, Rwanda’s where rebel groups have been fighting Indian forces for decades, has president who gave me this liberation,” Supreme Court extended her sentence seen a spike in violence in recent months. Three rebels were killed Ingabire said as she left Mageragere to 15 years. and 12 security forces wounded on Thursday during a clash in south- Prison in the capital Kigali. ern Reasi district. Two others were shot dead the same day in the “This is the beginning of the open- Stability and repression northern town of Sopore. ing of political space in Rwanda, I hope In November last year, the Arusha- KIGALI: Rwanda’s musician Kizito Mihigo (C) leaves the Nyarugenge Kashmir Police said the rebels killed yesterday belonged to the so,” she said calling on Kagame “to based African Court on Human and prison after being released yesterday on the outskirts of Kigali. — AFP Hizbul Mujahideen and Lashkar-e-Taiba militant groups, and had release other political prisoners”. The Peoples’ Rights ruled that Rwanda had been involved in the killing of two bank employees and police. The surprise release of 2,140 prisoners, violated Ingabire’s rights to freedom of the genocide in 1994, recently changed bringing stability and economic growth operation was “a huge success” for security forces, police said. including Ingabire and musician Kizito speech and adequate defense, prompt- the constitution clearing the way for to his tiny nation but often comes Government forces were conducting a search operation after an intel- Mihigo, followed a cabinet meeting on ing calls for a retrial. However, Rwanda him to rule until 2034. Another opposi- under fire for restricting political free- ligence tip when the rebels opened fire, sparking the siege, police said. Friday at which a presidential order of ignored the ruling. Members of tion politician, Diane Rwigara, who dom. He commonly wins re-election Anti-militant operations have been stepped up since rebels shot “mercy” was approved. “The Cabinet Ingabire’s party — which has not been sought to challenge for the presidency with over 90 percent of the vote. dead four police. There have also been rising tensions over a Supreme meeting chaired by President Paul permitted to register — have frequent- in 2017, was blocked by the electoral Although Rwanda is constitutionally a Court hearing on privileges for Kashmiris that was delayed due to the Kagame today approved the early ly been arrested during her detention, commission and subsequently arrested multi-party system there is practically risk of violence. Kashmir has been divided since the end of British colo- release of 2,140 convicts found eligible and human rights groups have accused and charged with treason. Her trial is no opposition within the country with nial rule in 1947 but both India and Pakistan claim the former Himalayan under relevant provisions of law,” a the military of torturing them. underway. most of the recognized parties sup- kingdom in full. India has about 500,000 soldiers in the zone it controls, justice minister statement read. Rwandan musician Kizito Mihigo Others presidential challengers have porting the ruling Rwandan Patriotic where separatist groups demand independence or a merger with “Among them are Mr Kizito Mihigo was arrested in 2015 and jailed for 10 been prevented from entering the Front (RPF). However, in parliamentary Pakistan. The UN human rights chief last month called for an investiga- and Ms Victoire Ingabire Umuhoza, the years for conspiring to assassinate country, while exiled dissidents have elections earlier this month the opposi- tion into alleged abuses by Indian security forces in Kashmir — claims remainder of whose sentences were Kagame. Kagame, the country’s de fac- been threatened and sometimes mur- tion Green Party won two seats, for the that were later dismissed as “fallacious” by New Delhi. — AFP commuted by Presidential prerogative to ruler since his rebel army stopped dered. Kagame has been praised for first time. — AFP 10 Established 1961
Analysis Sunday, September 16, 2018
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Was there another target in the Skripal poisoning?
By Steven E Halliwell
he poisoning of former Russian double agent Sergei Skripal and his daughter Yulia has Ttaken yet another dramatic turn. After UK authorities named two Russians - both said to be from the GRU military intelligence service - as sus- pects in the attack, Vladimir Putin said Wednesday that the pair were civilians, not criminals, and that he hoped they “will turn up themselves and tell everything”. Washington Watch While Moscow has denied involvement in the Skripal attack, the evidence of Russian complicity seems convincing. The Russian suspects were tracked arriving from Moscow, traveling briefly to Trump cannot kill Palestinian aspirations Skripal’s home town of Salisbury at the time of the poisoning and returning to Russia within hours. By Dr James J Zogby Trump administration has fully embraced the hardline hardline Israelis, Palestinians, and members of Putin’s latest comments, which became top news on world view of Israel’s Likud. They reject not only the Congress to sabotage the fledgling process. As a fre- Russian TV, add another dimension to the mystery. n recent weeks, the Trump administration has taken Palestinian right to self-determination, they also do not quent visitor to Israel/Palestine in those early years, Russian intelligence agencies presumably must a series of drastic punitive actions against the accept the very idea of Palestinian “peoplehood”. The after seeing the expanding Israeli forms of repression, have realized that the poison attack in Salisbury Palestinian people. Some analysts have accepted plans they have announced would sever the West Bank the growth of settlements, and increased Palestinian would be traced back to Russian actors, given the I the official White House explanation that many of the from Gaza and leave East Jerusalem and the 28 bitterness and despair brought on by dramatic spikes origin of the toxin and how publicly the assault was actions were done either out of displeasure with Palestinian villages trapped within the Israeli-annexed in unemployment and poverty, I wrote “if there’s a executed. On one level, that might have been actions taken by the Palestinian leadership or as pres- “Greater Jerusalem”. ‘peace process’ someone forgot to tell the Israeli intended to serve as a warning from Putin to any sure forcing them “to take steps to advance the start of Meanwhile, as a result of the Trump administra- occupation forces and the Palestinian people”. other spies thinking of changing sides that Moscow direct and meaningful negotiations with Israel.” I dis- tion’s declared intention to economically strangle The situation went from bad to worse. Israeli poli- could find them anywhere. agree. When added together, the Trump administra- UNWRA and end this program, the Palestinians in tics became more hardline. The “Palestinian But the Russian government may have had a tion’s moves are so all-encompassing and far-reaching refugee camps in Lebanon, Syria, and Jordan would Authority” became an economic dependency and a broader target in mind as well. Those most likely to that I suspect a more ominous intent. not only be forced to give up their property rights security force without any real control over their ter- suffer from the consequences of the poison attack and their “right of return”, they would be turned over ritory, their land and their ability to develop. The US, are not the small group of agents like Skripal, but Here’s what the administration has done: the United Nations High Commissioner on Refugees failing to address the asymmetry of power (Israel had the thousands of rich Russians living in elegant They cut US assistance to UNWRA, to be resettled in other countries. If this Trumpian it all, while the Palestinians had none), largely func- London neighborhoods, sending their children to Congressionally authorized humanitarian, development approach were to succeed, the Palestinian nation tioned as a self-willed impotent shepherd of a dying the best schools, collecting major works of art and projects and programs for the West Bank and Gaza, would be dismembered and dispersed. In their mind, “peace process” - oftentimes acting less like an “hon- traveling the world in style. These Russians are now and ended the annual grant Congress has authorized it would cease to exist. est broker” and more like the begrudging enabler of under increasing pressure from the UK government for Palestinian hospitals operating in East Jerusalem. In The Israelis, for their part, have been given carte Israel’s bad behavior. And then peace process died, to explain the source of their wealth. After decades addition to these cruel cuts in much needed assistance, blanche. They get: Jerusalem; an end to the “refugee an unannounced and unacknowledged death. Only the of lax monitoring of inflows into London banks the administration closed the Palestinian mission in problem”; the right to declare that only they are enti- fiction of a process remained. from dodgy companies based in tax havens, Britain Washington and announced plans to redefine who is, in tled to self-determination; freedom to demolish and recently approved legislation requiring disclosure their view, a Palestinian refugee. build, as they wish, in the occupied lands; and an Mask is off of “unexplained wealth”. Fraudulent transfers by At the same time, the White House acquiesced to increasingly economically deprived Palestinian popu- Now, with the Trump administration, the mask is wealthy Russians are clearly intended as one of the the passage of Israel’s “Jewish Nation-State Bill” and lation that they hope will either submit to Israel’s will off and the fiction has ended. As it takes shape, as targets. said nothing in opposition to Israel’s recent announce- or be forced to leave. revealed through this administration’s recent actions, Although Putin is loath to admit it, Western ment of thousands of new settlement units, some in Trump’s “ultimate deal” appears to be not a formula sanctions and Russia’s anemic economy are putting highly sensitive areas - either in Arab East Jerusalem Zionist claims for a just peace, but a forced Palestinian acquies- enormous pressure on the Kremlin. Projected or deep in the heart of the West Bank. They also let All of this calls to mind an earlier era; when cence to the Zionist vision for Palestine. Recognizing growth has just been revised downward, defense pass, without protest, Israel’s planned demolition of an Zionists referred to Palestine as “a land without a this, an Israeli commentator recently sarcastically spending has grown, and social welfare costs entire Arab village and a number of Palestinian homes people for a people without a land”; or Golda Meir’s wrote “First Trump took Jerusalem off the table, then remain high. Over a trillion dollars is estimated to in Jerusalem. “It was not as if there was a Palestinian people in he took the refugees off the table, all he has to do have left Russia since the collapse of the Soviet In a recent interview with a Sheldon Adelson- Palestine...They did not exist;” or the religious Zionist now is take the Palestinians off the table - and I guess Union, much of it since Putin took power in 2000. owned Israeli newspaper, US Ambassador to Israel claim that God gave this land to them and they should we’ll call it peace.” By angering the UK government and motivating David Friedman, after gloating over his success in deal harshly with the “strangers” whom they find But not so fast. Despite the dysfunctional state of them to crack down on Russian oligarchs, Putin moving the US Embassy from Tel Aviv to Jerusalem, there. the Palestinian political order, it must be remembered may be hoping that the UK retaliation to the made it clear that there is a “new day” in the US-Israel This hardline Israeli rejection of Palestinians as a that it wasn’t the PLO or the Palestinian Authority or Skripal poisoning could push the expats to repatri- relationship. He said, “We don’t tell Israel what to do,” nation and a people with rights was to have ended UNWRA that created and sustained Palestinian ate some of that money. signaling that Israel can operate with impunity toward with the Oslo accords, signed 25 years ago. In the national aspirations. Rather, these bodies, in their time, Capital has poured out of Russia during the the Palestinians and the occupied territories because in introduction to those accords, Israel and the have embodied those aspirations of the Palestinian Putin years for two reasons. One, corrupt business- the new US view “It’s always Israel’s decision.” In a Palestinians recognized each other’s right to self- people. These entities may disappear or be destroyed men want the comforts and status of life in the West separate and equally revealing interview, Jared determination. What was left was to find the way to - but the will of the Palestinian people lives on. Those after years of Soviet penury; second, Western Kushner termed the Trump administration’s moves as implement that mutual recognition. Succeeding US who ignore either their will or the fact that the issue of countries offer security via a legal system and an necessary to “strip away ‘false realities’” - meaning administrations failed miserably in pressing the par- Palestine, for the Arab people, remains “the wound in independent court system, as well as more reliable “taking Jerusalem and Palestinian refugees right of ties to implement the Accords. the heart that never healed” should beware of the banks than those in Russia. Putin could not have return off the table”. For example, instead of “striking while the iron was consequences of their ignorance. stopped the outflow without fomenting a revolt hot”, the Clinton Administration, operating with the against him. Likud policies faulty assumption that the Israelis and Palestinians NOTE: Dr James J Zogby is the President of the With so much money outside the country, there All of these actions, taken together, tell me that the could do it on their own, lost precious time, allowing Arab American Institute is little investible capital available in Russia. Projected economic growth has just been officially revised downward to 1.8 percent in 2018 and 1.3 percent in 2019. (US growth by contrast is about 4 with regime allies Russia and Iran - the so-called modifying the borders of the de-escalation zones to percent this year, and likely to slow to 3 percent in Turkey-Russia Astana talks launched in January 2017 in the quest for a keep armed rebels from certain sectors. 2019.) Russia’s Central Bank, fearing a freeze on US lasting ceasefire. To date, the dialogue has resulted in Russia may be open to such a plan, Assi said, as long dollar transfers now being considered in the US the creation of four pre-ceasefire “de-escalation as it would secure the Idlib section of the Aleppo- Congress, has stopped rebuilding its dwindling for- discord over Idlib zones” in Syria, including in Idlib. Idlib is the last major Damascus highway and put an end to drone attacks eign currency reserves and is ramping up its pur- opposition stronghold in the war-torn country. Sixty launched from Idlib against Moscow’s main military chases of gold. defers regime percent of the area is controlled by the Hayat Tahrir al- base of Hmeimim in the neighboring province of Sham (HTS) jihadist group, an al-Qaeda branch operat- Latakia. Some three million people live in Idlib province Kremlin under pressure ing in Syria. and adjacent areas, the United Nations says, around Putin desperately needs some of that offshore offensive, for now Intense negotiations have taken place between half of whom have already fled their homes in other money to come back home. In a March address to Turkey and Russia since the failure of the Tehran sum- parts of Syria. Regime forces and Russian warplanes the nation, he called for $340 billion in new invest- mit, to hammer out a compromise in a bid to avert an isagreement between Turkey and Russia over resumed airstrikes on Idlib in September but the strikes ment during the rest of his presidential term, of assault which Erdogan has cautioned would ignite a how to tackle the Syrian rebel stronghold of fell in intensity this week. which private businesses should pony up $130 bil- “bloodbath”. Such a compromise could include neutral- Idlib seems to have deferred a looming regime lion. For an economy that has a GDP below $2 tril- D izing the HTS - officially designated as a terror group Turkish ‘defensive’ reinforcements offensive on the province, analysts say. Russia and lion, that’s a great deal of money. by Ankara. Erdogan and Putin are expected to discuss Turkey are on opposite sides of the conflict, but key Turkish media reported Ankara has sent reinforce- But if history is any lesson, the Russian moneyed the issue when they meet in the Russian resort city of global allies. Turkish President Recep Tayyip Erdogan ments, including tanks, to beef up its border with business class will not cooperate with Putin’s Sochi tomorrow. met Russian and Iranian leaders Vladimir Putin and Syria and its observation posts in Idlib. Turkish mili- demands. A similar effort a few years ago to bring Hassan Rouhani in Tehran on Sept 7 to discuss Syria, tary analyst Metin Gurcan, judges these measures to offshore money back - under the awkward slogan Compromise formula just as a major assault by Russia-backed regime forces be of a “defensive” nature, aimed at protecting of “de-offshorization” - had only limited success. For Turkey, the stakes are high. Ankara fears a large- on Idlib appeared imminent. Turkish observation posts against any possible After the August round of sanctions, Putin offered scale assault on Idlib, which lies on its southern border, But discord at the summit between Erdogan and threat. Gurcan said the lack of an agreement with Russian business another deal - offshore status in could trigger a massive flow of refugees onto its soil. Putin, in a rare scene captured on camera, may have Ankara could push Moscow, and thus the Syrian various protected domestic enclaves - again to lit- Turkey is already home to more than three million prompted Russia to postpone the Idlib strike so as not regime, to stage an “incremental operation that will tle effect. Syrians who have fled the conflict. Abdul Wahab Assi, to provoke Ankara, which is fiercely opposed to a mili- an analyst at the Syria-based Jusoor Studies Centre, last months” rather than a full-fledged attack. “Russia tary option. “I believe an offensive, if there will be one, NOTE: Steven E Halliwell was corporate finance said disagreements at the Tehran summit “rule out a is trying to keep Ankara in the game,” he told AFP, will not come before several weeks,” a senior Turkish head of Central and Eastern Europe for Citibank possible offensive in the short run, at least until the end saying any confrontation between the two countries official told AFP, speaking on condition of anonymity. and Chief Financial Officer of the US-Russia of the year”. He said a possible compromise from the was “highly unlikely”. “Moscow needs Turkey as a Turkey, which backs rebels fighting against Investment Fund ongoing talks could take the form of a “limited military Sunni power to balance Shiite militias’ presence in President Bashar Al-Assad’s regime, co-sponsors - operation or surgical strikes” targeting the HTS, or northern Syria,” he said. — AFP Established 1961
SUNDAY, SEPTEMBER 16, 2018 Business
WTO reform ‘urgent’ as new Boursa Kuwait launches educational US retail sales slow, but 13Trump tariffs loom: G20 14 portal for capital markets knowledge 15 exhibit underlying strength
BUENOS AIRES: Tourists take pictures during a visit to the traditional street museum Caminito in La Boca neighborhood in Buenos Aires, on Friday. Foreign tourists have been favored as the peso has lost more than half of its value against the dollar since the start of the year — as Argentina battles to stave off an economic crisis. —AFP Argentina currency crisis a holiday boon Neighbors fret as troubled peso helps foreign tourists
BUENOS AIRES: Argentines may be feeling the pinch of “We were able to buy whatever we wanted and visit all Of course, for Argentines, known as great voyagers, the Gonzalo Sastre has found out. their country’s economic woes, but for tourists, the trou- the tourist sites in Buenos Aires,” added Perreira de situation is the exact opposite. Romanina Valenzisi, a 34- “When the peso had a ‘normal’ level, we had a good bled peso is proving a holiday boon. Azevedo. “At Boca Juniors’ stadium we even had a VIP vis- year-old lawyer, booked flights for a two-week holiday to stream of locals during the week, basically people who Brazilian Pedro Perreira de Azevedo has been rubbing it!” added one of his daughters excitedly. Not far from the Spain and Italy six months ago. came for work,” he said. his hands in delight after his family holiday, with his wife iconic Bombonera stadium in the rugged La Boca neigh- Now, she must pay for her hotels in Europe, but their “Now, companies are sending fewer employees.” Even and three children, turned out cheaper than expected. borhood, Lori Berho, an American living in Chile and on prices have gone through the roof. so, his hotel is booked out for the next two weeks, thanks to “We’d planned a budget of 7,000 reals (around $1,700) holiday with her brother, said she felt lucky to have been In January, 18 pesos could be exchanged for one dollar, Brazilians. “In this region there’s a very opportunistic but in the end we’ve spent between 3,000-3,500,” said able to benefit from such a favorable exchange rate. but that figure is now around 38. “I have to pay for the tourism based around the drop in currency,” added Perreira de Azevedo, while his family took pictures outside “Last night we were able to enjoy a complete restaurant hotels now and everything costs double, which is coming Chevalier. the Argentine presidential palace. When they arrived from meal for two for $60 when normally it would have cost out of my budget,” she said. Argentina’s problems may improve the spending power Belo Horizonte in the east of Brazil on September 5, the $100,” she said. “I already know that I’ll spend less money and buy less of its visitors, but it’s proving a problem for neighboring peso had just lost 20 percent of its value in the wake of (while on holiday).” Travel agents have been hard hit too as countries used to welcoming large numbers of Argentines, President Mauricio Macri announcing Argentina would ask ‘Everything costs double’ holidays have crept out of reach for many people. in particular Uruguay and Chile. the International Monetary Fund to advance a $35 billion The struggling peso has left tourist guides a touch out of “Sales of foreign travel have dropped 25-30 percent Uruguay is so worried that the numbers will drop off loan to help prop up an economy in crisis. date. “When you read the tourist guides they say things over the last few weeks,” said Vincent Chevalier, a that it has reintroduced a value added tax (VAT) exemp- With the peso having lost half its value against the dollar cost more in Argentina then elsewhere in Latin America, but Frenchman who has run a travel agency in Buenos Aires for tion for tourists arriving from the far shore of the River since the start of 2018, the Brazilian real looks strong in over the last 10 days we’ve spent less than we expected,” the last 28 years. Plate in a hope to keep the flow of Argentines flooding comparison despite its own difficulties-it has itself dropped said a young French tourist, Pauline Gauthier, meandering “The crisis is also starting to affect internal tourism.” into the country during the January-February summer from around 3.3 to 4.1 since January 1. though the historic streets of San Telmo with her partner. Even the center of Buenos Aires has been hit, as hotelier holidays. —AFP
A public comment period ended last week for the $200 Trump readies billion tariff list, which included various internet technolo- gy products and other electronics, printed circuit boards, is now widely forecast to experience a hard landing over and consumer goods ranging from handbags to bicycles the next year. and furniture. Emerging market tariffs on So what is growth like in these countries right now, The US Trade Representative’s office has said it was what signs are there of a shock to business and consumer working to revise the list based on issues raised in public confidence and has the near sudden stop in investment $200bn more hearings and written submissions. In previous rounds of currency crisis flows seen 2019 economic forecasts deteriorate markedly? anti-China tariffs, it has taken one to two weeks to make list revisions and another two to three weeks to begin col- Chinese goods could lead to Business confidence lecting tariffs. Purchasing manager indexes have suffered sharp WASHINGTON: US President Donald Trump has directed The decision comes despite a Treasury invitation earlier drops across many developing nations, according to data aides to proceed with tariffs on about another $200 billion this week to senior Chinese officials, including Vice Premier economic trouble earlier in the month. of Chinese goods, despite Treasury Secretary Steven Liu He, for more talks to try to resolve trade differences “When you have an environment where (the) US dol- Mnuchin’s attempts to restart trade talks with China, a between the world’s two largest economies. China’s Foreign LONDON: Emerging market investors are trying to lar is strengthening and US front-end rates are going up source familiar with the matter said on Friday. Ministry said it welcomed the invitation, but Trump later gauge whether a currency crisis and the steep interest that tightens external financial conditions for emerging The timing for activating the additional tariffs was raised questions about it, saying on Twitter that he was rate hikes being used to fight it could turn into a broader markets, especially for the deficit economies,” said unclear. The green light for the tariffs, first reported by under no pressure to make a deal with Beijing and that the slowdown and even recession. Murat Ulgen, global head of emerging markets research Bloomberg, initially dragged US stocks lower, fueled drops United States “will soon be taking in Billions in Tariffs & On Thursday, Turkey’s central bank attempted to draw at HSBC. in the Chinese yuan in offshore trading and gains in the making products at home. If we meet, we meet?” a line under a lira collapse of almost 40 percent this year Meanwhile faced with capital outflows, many emerg- dollar index. Trump, who had already imposed 25 percent A Treasury spokesman did not immediately respond to by hiking interest rates more than 6 percentage points to ing market policy makers have opted to hike rates, there- tariffs on $50 billion of Chinese goods, said a week ago a query on the status of the China talks invitation. A USTR 24 percent. by also tightening domestic financial conditions, Ulgen that he would be adding tariffs on another $200 billion in spokesman did not respond to queries about the tariffs. Argentina is struggling to shore up its peso, which has added. “Given that markets have been volatile, generally goods and had tariffs on another $267 billion in Chinese The duties already levied on $50 billion worth of more than halved in value despite punitive interest rate speaking, and rates have been higher and equity markets imports “ready to go on short notice if I want.” Chinese goods followed a study on China’s intellectual rises to 60 percent. Other currencies have been caught in have been lower in summer months ... it is highly likely The Trump administration has demanded that China cut property practices released earlier this year. Adding in the slipstream, with India’s rupee plumbing record lows that financial conditions are still staying in the negative its $375 billion trade surplus with the United States, end the $200 billion list and another $267 billion of and South Africa’s rand, Russia’s ruble and Brazil’s real territory,” he said. policies aimed at acquiring US technologies and intellec- Chinese goods, total imports from China facing tariffs losing 15-20 percent this year so far. Having tumbled some 22 percent from their January tual property and roll back high-tech industrial subsidies. would exceed the $505 billion in goods that the United Signs are appearing that months of market turmoil are peaks, emerging equity markets are in territory commonly The White House said in a statement that Trump had been States imported from China last year. But 2018 imports starting to take the toll on real economies. South Africa regarded as a bear market, is often considered to be self- clear that he and his administration would continue to take from China through July were up nearly 9 percent over unexpectedly entered recession in the second quarter of sustaining decline.—Reuters action to address China’s trade practices and encouraged the same period of 2017, according to US Census this year, Argentina is predicted to follow suit and Turkey Beijing to address US concerns. Bureau data. —Reuters 12 Business Sunday, September 16, 2018 Russia raises interest rates for first time since 2014 Emerging market turmoil, sanctions batter ruble
MOSCOW: Russia’s central bank on Friday raised its The bank said this was intended “to curtail exchange interest rates for the first time since a currency crisis in rate volatility and its influence on inflation over the next 2014 as worries about emerging market turmoil and few quarters.” Since the latest round of US sanctions Western sanctions batter the ruble. and under the threat of further measures, the ruble has The Bank of Russia said in a statement it was lifting dropped sharply in value against the dollar and euro. its benchmark lending rate by 0.25 percentage point to The central bank’s latest rate raise immediately 7.5 percent and could raise it again in the future to rein pushed up the value of the ruble against the dollar in any acceleration in inflation. and euro after it had fallen further at the beginning of “Changes in external conditions” since the bank’s this week. last policy meeting in July “have significantly increased pro-inflationary risks,” the statement said. The bank cit- Ruble rising ed growing uncertainty over Western sanctions as well In the minutes after the announcement, the dollar and as capital outflow from emerging markets. euro fell against the ruble. At around 1500 GMT the euro was exchanged for 79.36 rubles on the Moscow A surprise The move came as a surprise: Analysts had been stock exchange and the dollar at 68.05 rubles. pencilling in no change in borrowing rates from this On Monday the dollar broke the symbolic barrier of meeting, after rates remained unchanged since 70 rubles and the euro rose to more than 81.75 rubles, March 2017. levels not seen since March 2016. The fall in the ruble’s Upgrading the bank’s inflation forecast for next year value since August “has made the Bank much more con- to 5.0-5.5 percent from 4.0 percent previously, Bank of cerned about inflation next year,” said analysts London- Russia chief Elvira Nabiullina told journalists that the based Capital Economics. weakening of the ruble observed in August “could fuel a The central bank was also acting “to stem capital further rise in inflation expectations”. outflows resulting from fears about new US sanctions,” “The Bank of Russia will consider the necessity of the analyst note said. The Bank of Russia last increased further increases in the key rate, taking into account its benchmark lending rate to 17 percent in December inflation and economic dynamics against the forecast, as 2014 in an emergency move aimed at stemming a dra- well as risks posed by external conditions and the reac- matic decline in the ruble amid falling oil prices and tion of financial markets,” the statement said. Western sanctions at the time. The central bank also announced it would halt its The announcement of the new rate hike immediately purchases of foreign currency-aimed at balancing bolstered the value of the ruble against the dollar and VLADIVOSTOK: Russian President Vladimir Putin (center) shakes hands with South Korean Prime Minister Lee effects of the oil price and stabilizing the ruble-until the euro. The central bank is scheduled to hold its next Nak-yeon (R) next to Chinese President Xi Jinping (left) and Mongolian President Khaltmaagiin Battulga during end of the year. monetary policy meeting on October 26. —AFP the plenary session of the Eastern Economic Forum in Vladivostok. — AFP
Iran says OPEC Canada working has ‘not much on WTO reform credit’ left
TORONTO: Canada is working on a project for TEHRAN: Oil cartel OPEC has “not much credit” left as reform of the World Trade Organization (WTO) and some members are turning it into “a tool for the US”, a aims to organize international talks on the subject senior Iranian official said in comments published yes- next month, Canadian sources said Friday as US terday. “Saudi Arabia and the UAE are turning OPEC pressure on the body mounts. President Donald into a tool for the US and consequently the organisa- Trump threatened late last month to pull his country tion has not much credit left,” Iran’s OPEC governor out of the WTO, which arbitrates trade disputes, if it Hossein Kazempour Ardebili told the Shana newswire, does not “shape up.” affiliated to Iran’s Oil Ministry. “It is a fact that OPEC is He has previously criticized the WTO’s dispute losing its organisational character and becoming a settlement system as being unfavorable to the US, forum,” he added. although the body most often rules in favor of the In a move heavily opposed by Iran, OPEC and other oil United States when Washington brings cases before producers including Russia agreed in June to boost crude it. “We recognize the challenges at the heart of the output by around a million barrels a day, reversing course after supply cuts that had cleared a global glut and boost- WTO and believe it is necessary to find the means to ed prices. do the necessary work to advance reforms,” a Iran, a founding member of the cartel, had been against spokesman for Jim Carr, Canada’s Minister of the move which came as the country faces renewed US International Trade Diversification, told AFP. sanctions after Washington’s decision to leave the 2015 and said that OPEC’s responsibility is to restore market Meanwhile, output from Iran has hit its lowest level “This work has started,” he said, adding that “the nuclear deal between Tehran and world powers. balance, not to boycott its founding members. US since July 2016 as top buyers India and China dis- WTO can overcome some of its historic challenges The US decision had stoked supply concerns on world President Donald Trump has repeatedly urged the cartel to tance themselves from Tehran due to looming US and make progress.” markets. Ardebili also accused Saudi Arabia and Russia of raise its production and said that other countries must sanctions on November 5, according to the A small group of like-minded trade ministers will taking the market “hostage” through increased production stop buying oil from Iran or face US sanctions. International Energy Agency. — AFP gather in Ottawa October 24-25 “to discuss WTO reform,” a Canadian government source told AFP, requesting anonymity given the sensitivity of the hikes. “We might keep raising interest rates discussions. Trade war seen and the economy can’t take it and we put The group will “identify concrete means of UK Labour warns big banks must the country into recession,” Neel Kashkari, improving the WTO over the short, mid and long among threats president of the Minneapolis Federal term,” the source said, adding preparatory work has never again be masters of economy Reserve Bank, told a recent “Marketplace” already begun. radio broadcast. Australia, Brazil, Chile, the European Union, Japan, LONDON: London’s vast financial serv- the next government, although the next to US economic Worries about interest rates have crys- Kenya, Mexico, New Zealand, Norway, Singapore, ices industry must never again be the election is not due until 2022. talized in recent months over the prospect South Korea and Switzerland will be part of the “master of the economy”, the opposition Despite his previous antipathy upturn of an “inverted yield curve,” when short- working group, the official said. Labour finance spokesman said yester- towards bankers, McDonnell is trying to term bond yields rise above long-term A European diplomatic source said the Ottawa day in a speech accusing bankers of win the support of financial leaders just yields, traditionally a predictor of reces- gathering is “not totally confirmed” because a profiting from speculation at the as former Labour leader Tony Blair NEW YORK: Ten years after the fall of sions. The yield curve has been of late clos- meeting of trade ministers from the G20 group of expense of ordinary people. helped prepare his party for power with Lehman Brothers helped spark the global er to inversion than at any time since 2007. major economies was taking place, and Canada is John McDonnell, a veteran socialist what was dubbed the “prawn cocktail financial crisis, the United States is in the While economists watch the yield curve, still verifying if it has enough support for steering who is now seeking to reassure busi- offensive” in the 1990s. midst of an exceptionally long cycle of some key figures, including Fed Chair WTO reform. ness, promised higher taxes and tougher For example, McDonnell went for economic growth. Jerome Powell, are skeptical of the indica- At their meeting Friday in Argentina, the G20 regulation on banks on the 10th anniver- talks with the Wall Street bank Goldman Most major economic indicators contin- tor’s significance. trade and investment ministers recognized “the sary of the collapse of Lehman Brothers Sachs earlier this week to discuss ue to show a green light but some econo- urgent need to discuss current events in international - the pivotal moment in the global finan- Britain’s upcoming departure from the mists see warning signs. Market watchers Red: Major worry spots trade and ways to improve the WTO to face current cial crisis. In a speech outside the Bank European Union. believe a trade war is one thing that could “The major risk of a recession is the and future challenges,” a communique said. of England, McDonnell will say ordinary However, his speech will be clear that help make the US economy hit the brakes. trade war. It could result in higher inflation In July, Trump won a commitment from visiting people are still paying the price for the Labour will seek to extract more rev- Below is an assessment of today’s US and lower consumption as the Fed tight- European Commission chief Jean-Claude Juncker to crisis through falling living standards enue from the City of London, including economic outlook in green, yellow and red. ens its monetary policy,” said Gregori Volokhine, president of Meeschaert work together for WTO readjustment to address and cuts to public services. proposals to expand an existing tax on Financial Services. Of particular concern some of the US leader’s complaints about China over “One of the key lessons to be learnt shares to trading on other assets such as Green: full speed ahead is the worsening conflict between Beijing the theft of US technology, the behavior of state- from the crash is that never again must bonds and derivatives. Many key measurements are at or near and Washington. President Donald Trump owned enterprises, and overcapacity in steel. we allow finance to become the master He will say the financial industry multi-year highs such as those assessing manufacturing, consumer confidence and has threatened to impose hefty tariffs on Trump complained in April on Twitter that the of the economy, rather than its servant,” needs to do more to rebalance the all Chinese exports to the United States, a WTO considers China a developing nation, despite McDonnell will say, according to economy towards manufacturing and unemployment. Other signs of robustness include sol- move that would bruise the Chinese its economic might. “They therefore get tremendous excerpts of his speech. “Labour in gov- technology industries rather than lend- economy. perks and advantages, especially over the US,” he ernment will put finance to work for the ing to invest in property. id job growth, higher gross domestic product and numerous stock market Another source of unease is the cloud said. “The WTO is unfair to US.” real economy.” “The crash also exposed how far surrounding emerging markets that hold WTO Director-General Roberto Azevedo has With Prime Minister Theresa May’s the balance in the role of the City had records following strong corporate prof- its. Companies in the S&P 500 reported large dollar-denominated debts, with agreed with a call from French President Emmanuel government weakened by her been tipped away from securing long Argentina and Turkey at the top of the list. Macron “on the need to strengthen the WTO and to Conservative Party’s infighting over term investment in our economy a 25 percent in second-quarter profits, the biggest increase since 2010, accord- “With their currency falling, it’s more make it more effective in addressing the trade chal- Brexit, Labour is hoping her minority towards short-term, high-stakes gam- ing to FactSet. problematic for them to pay back any loan lenges of today,” as the protectionist US administra- government will collapse. Most recent bling,” he will say. “We will restore they have outside the country, “ said Tom tion imposes tariffs on allies and trade disputes have opinion polls show Labour level with the balance to the role of finance in our Cahill, a strategist at Ventura Wealth Orange: signs of slowing? multiplied. —AFP Conservatives, meaning they could form economy.” — Reuters Management. “At some point it’s going to As the unemployment rate has fallen reverberate around the world.” below four percent, one source of unease Others raising this red flag include for economists has been the prospect of International Monetary Fund chief inflation. That worry appeared to gain Christine Lagarde, who has warned a sud- charged Citigroup with falsely leading users close that trades were routed to other platforms, some traction after the August jobs report den spike in interest rates could shock the Citigroup to pay to believe high-frequency traders were not including other dark pools. Citigroup sent showed a 2.9 percent rise in hourly wages, global economy. permitted on Citi Match, a premium-priced orders saying the orders had been executed on the biggest jump in nine years. Emerging economies currently hold “dark pool,” a private marketplace separate Citi Match when they had been put through on Another sign of accelerating inflation debts of $3.7 trillion in dollars and 644 bil- $12m in US for from the New York Stock Exchange and other other venues, the agency said. came with the July reading on personal lion in euros, according to the Bank for public markets. “Market participants deserve to make consumption expenditures, the highest in International Settlements. misleading In fact, two of Citi Match’s most active users informed decisions about where they execute six years. Other inflation data have been US politics is another potential wildcard were high-frequency traders and executed their orders,” said Joseph Sansone, head of the more benign. for the economy, with the prospect of a on ‘dark pool’ more than $9 billion in orders on the exchange, SEC’s enforcement group’s market abuse unit. In light of these trends, the Federal Democratic sweep of midterm congres- the SEC said. “All trading venues, regardless of their trade Reserve is expected to lift interest rates sional elections seen as boosting the odds Large investors like dark pools as a way of volume, must ensure that their users have accu- two more times this year. of Trump’s impeachment. NEW YORK: US securities regulators commissioning transactions without swaying rate information, particularly about key issues Higher interest rates could weigh on While it is unclear whether Trump announced Friday that Citigroup would pay $12 prices and boosting the cost of their orders. like order routing.” households in the form of increased mort- would be forced to step down, some mar- million for misrepresenting practices on a pri- But the venues have been criticized for lack of Citigroup did not admit or deny the charges gage and loan payments. Even more worri- ket watchers think consumer confidence vate exchange to clients. transparency. but agreed to be censured as part of the settle- some is the prospect of a rapid spike in could be jeopardized by a protracted The Securities and Exchange Commission The SEC also said Citigroup failed to dis- ment, the SEC said. — AFP inflation that hastens Fed interest rate impeachment. —AFP Established 1961 13 Business Sunday, September 16, 2018 WTO reform ‘urgent’ as new Trump tariffs loom: G20 trade ministers
Ministers stepping up dialogue on international trade disputes
MAR DEL PLATA: Trade and investment ministers from G20 countries meeting in Argentina said there was an “urgent need” to improve the World Trade Organization, a joint statement said on Friday. prices could drop by 35 percent over With US President Donald Trump ready- BoE chief three years, as sterling plummeted ing tariffs on another $200 billion in Chinese and the BoE was forced to hike inter- goods, the ministers said they were “stepping warns cabinet est rates, UK media reports said. up the dialogue” on international trade dis- The stark warning comes as the putes, according to the statement issued at of promise and head of Britain’s biggest business the summit. lobby group said such an exit would It did not provide any details of possible pitfalls of Brexit be a “hammer blow” to the British WTO reforms or how dialogue on trade was economy. being increased. Brexit talks between London and “Obviously the new tariff measures are not LONDON: Britain could expect an the European Union have stalled for positive,” Argentina’s Production and Labor economic boost under the govern- months, prompting rising concerns Minister, Dante Sica, said in a news confer- ment’s preferred Brexit plan, while that Britain could crash out of the ence at the end of the one-day meeting. “But house prices could crash without an bloc in March 2019 without an we need to see how things evolve.” German EU divorce deal, Bank of England agreement. Deputy Economy Minister Oliver Wittke said (BoE) governor Mark Carney has The central bank’s latest annual the joint declaration sent a powerful signal reportedly warned. “stress test” of the UK financial sys- about the importance of strengthening WTO Addressing Prime Minister tem, carried out last November, said “especially in times of ‘America first’ and Theresa May and her cabinet Britain would be able to cope with a increasing global protectionism,” with next Thursday, Carney argued the British price crash of 33 percent-suggesting steps to follow when G20 leaders meet in the country may not find itself in as Argentina at the end of November. FRANKFURT: Activists of campaigning movement “attac” are dressed as “slaves of the economy could expect a £16 billion ($21 billion, 18 billion euros) rebound bad a situation as during the financial “We have to use this momentum,” Wittke Financial system” as they rally in Frankfurt am Main, yesterday on behalf of the 10th crisis a decade ago. said in a statement released by the ministry anniversary of the collapse of US investment bank Lehman Brothers which unleashed a if an agreement emerges based on her current plan, according to The Meanwhile speaking to the BBC after the summit. global economic crisis. — AFP on Friday, head of the CBI business Outside the meeting, smoke filled the air in Financial Times. May envisages a post-Brexit free trade area with the lobby group, Carolyn Fairbairn, said the normally tranquil seaside city of Mar Del “the urgency of stepping back from Plata where the conference is being held. billion stand-by financing deal with the IMF, trade system fairer and more effective. European Union in goods and agri- cutting its fiscal deficit targets and reducing The 23-year-old trading club is run on the foods, based on a common rulebook, the cliff-edge is growing daily”. Protesters burned makeshift American flags The director general added: “The and chanted against free trade orthodoxy and costs to ensure it can continue paying its basis of consensus, meaning that every one of but has faced a furious backlash over hammer blow to our economy would Trump’s support of Argentina’s cash- international debts. its 164 members has an effective veto and it is remaining tied to the bloc from be enormous and I think many small- strapped President Mauricio Macri, whose Trump has said he would attend the sum- almost impossible to get agreement on any Brexiteer members of her own fiscal belt-tightening has garnered a backlash mit’s final meeting with other heads of state, change to the rules. Sica also said that talks Conservative party. er businesses can’t properly prepare from the country’s working-class. in Buenos Aires on November 30. The Trump on a free trade deal between the European The EU has also cast doubt on and that just doubles the potential “We’re standing here in solidarity with the administration has demanded that China cut Union and the Mercosur trade bloc of whether it can accept key elements impact if we go over that cliff. “We workers of Latin America. While those politi- its $375 billion trade surplus with the United Argentina, Brazil, Paraguay and Uruguay of the plan, leaving May struggling have to have a deal,” she insisted. cians sleep in fancy beds, communities starve States, end policies aimed at acquiring U.S. were wrapping up, with an agreement likely to chart a viable path forward. She hit out also at Brexit Secretary because of trade and adjustment policies that technologies and intellectual property, and by the end of the year. “We are in the final But Carney painted a bleak pic- Dominic Raab’s claim Thursday that hurt the most vulnerable,” protester Maralin roll back high-tech industrial subsidies. stages regarding the most delicate aspects of ture for the British economy in a no- UK companies should not blame Cornil, 30, said. While Trump has threatened to pull the an EU-Mercosur agreement and we are con- deal scenario, telling ministers house Brexit for poor earnings. —AFP Argentina holds the G20’s rotating presi- United States from the WTO, China has cluding with the political and technical dency this year, and is re-negotiating a $50 called for WTO reform to make the global details,” Sica said. — Reuters 14
Sunday, September 16, 2018 Business Boursa Kuwait launches educational portal for capital markets knowledge Fully digital portal aims to promote financial literacy among investors
KUWAIT: Boursa Kuwait yesterday announced the launch and are aware of the choices available to help them make procedures within the capital market so they can better of a new, free of charge digital education portal, ‘Boursa investment decisions. The academy aims to promote finan- assess their goals.” Academy Online’, aimed to promote capital market literacy cial literacy among the Kuwaiti public more generally, Additionally, the portal will deliver training solutions to among new and professional retail investors. which will in turn help increase investment in the local help beginners - such as university students - understand As part of the efforts to boost capital market knowl- capital market. the basics of investing and the instruments available in the edge, Boursa Kuwait established the academy to educate With its new educational offering, Boursa Kuwait market. The content will be delivered in an Information rich investors on a wide range of relevant topics, ranging from addresses the need to bridge the knowledge gap in trading platform. Pursuing best practices and increasing trans- how to trade, common investment mistakes as well as risks and financial know-how, which is one of the main factors parency for the benefit of its stakeholders is part of Boursa of investing to enable them to make informed investment driving individual investors to participate in the capital Kuwait’s mission to evolve as a leading regional exchange. decisions. From the day of its launch, the online portal will market. The academy will act as a trusted source of infor- To this end, its strategy focuses on developing the overall provide educational and training facilities such as ‘Market mation where members can access state-of-the-art tools market status and addressing the needs of market partici- Watch’, ‘Virtual Trading’, ‘Statement of Account’, ‘Portfolio’ and resources. pants through the provision of investment tools, restruc- etc. targeted to investors of various experience levels. Al-Khaled added: “Today’s financial markets are con- turing the market to increase its competitiveness and liq- Commenting on the launch of the academy, Khaled stantly evolving. Therefore, it is important for institutions uidity, and attracting investments from local and interna- AbdulRazzaq Al-Khaled, CEO of Boursa Kuwait said: “The like Boursa Kuwait to ensure individual investors are kept tional investors. launch of the ‘Boursa Academy Online’ reflects our long- informed of the new trends and risks associated with Since its official licensing in October 2016 by the standing commitment to developing a reliable and sound investing. We see it as our mission to help build a sustain- Capital Market Authority, Boursa Kuwait has been com- capital market. Our goal is to ensure that individual able financial environment through continuously improving mitted to creating and operating an efficient, fair and investors are equipped with the right tools and information Capital market literacy, thus enabling investors to maintain transparent capital market platform that services all rele- so that they are confident at getting involved in trading an in-depth understanding of the different structures and vant asset classes, whilst focusing on clients’ interests.
KFH: Fursa program Warba Bank trainees complete announces 5 winners one month course of Al-Sunbula in KFH - Turkey KUWAIT: Kuwait - Turk concluded a training course com- weekly draw prising 8 new trainee employees within “Forsa” program which continued for one month at Kuwait - Turk. The course KUWAIT: Warba Bank, “the Best investment Bank” and included practical training on all types of works, activities “Best Corporate Bank” in Kuwait, held its week 33rd draw and services provided by the bank. Trainees were circulated for Al-Sunbula Account. The draw announced the 5 lucky to all sectors and departments, placed in their positions and winners in the presence of representatives from the Ministry given the opportunity to mix with other employees and cus- of Commerce and Industry and Bank officials. tomers. This step aimed to deepen and strengthen their The bank proudly announces the lucky 5 winners who experience in a new work environment which enjoys several received KD 1000 each are: Saad Marshad Oudah Al- advantages including competition, development, diversifica- Saeedi, Meshal Dhuwaihi Mesbeh Al-Taisi, Falah Saad tion and dependence on technical skills. Mohammad Al-Ajmi, Ramadhan Abdullah Hasan Ekrayem Trainees participated, on regular basis, in direct inter- and Eissa Tahseen Al-Obaid. views with Kuwait Turk officials. They had a very close Al-Sunbula Account is the perfect choice for all cus- look on products creation process, service structuring, and tomers who wish to save money and achieve steady returns technical systems developments and updates. They have also while simultaneously have the opportunity to win cash prizes viewed the functions of other departments e.g. marketing, throughout the year. Due to the high traffic on this account, compliance, auditing and other departments, thus providing for its offerings of unparalleled opportunities, Warba Bank an integrated banking experience from all aspects. This has worked on enhancing Al-Sunbula account to provide experiment has given the trainees a unique special impression customers with more benefits. in regard to the development level which Kuwait - Turk has Such enhancements include increasing the number of reached concerning modern technologies and systems, work winners and the frequency of the draws. Now, on every methodology and management which uses the open door communications between employees and officials in addition has increased customer confidence in the bank performance Thursday the Bank holds draws for 5 weekly winners of KD to the fast and major growth in various business fields. Also, it and high quality of its products and services. 1,000 each. In addition, the Bank continues its monthly policy. This method has given the chance to establish direct draws held on the first Thursday of every month, with cash prizes of KD 30,000 divided amongst 4 winners: two win- ners getting KD 10,000 each, and two winners getting KD 5,000 each. Thus, the new development of Al-Sunbula account has increased the total number of winners to 24, and the total amount of prizes to KD 50,000 instead of KD 30,000. As for the chances for winning, each customer is eligible to enter the draw against each KD 10. It is notewor- thy, that Warba Bank has recently launched the Al-Sunbula Fixed Deposit, which provides depositors with high returns of up to 3 percent, as well as getting monthly chances to win in Al-Sunbula Account draws. Furthermore, Warba Bank has launched its latest Customer Onboarding solution, in line with its ambitious five-year strategy that enables non-Warba Bank customers to request opening Al-Sunbula account in an easy electronic manner through the Bank’s website without having to visit any of the Bank’s branches, by following 5 simple steps that might take up to 5 minutes. New customers will be able to request opening the account at anytime, anywhere, and the Bank will receive, process and pass the new application for approval through whole new and unique electronic system used to implement this service. Warba Staff will then contact the customer to determine the appropriate time to visit the branch to get required signatures, verify the customer’s identity, deliver his/her debit card, and activate the account.
AUB launches new investment savings account Afaaq
KUWAIT: Ahli United Bank (AUB) announced the launch of a new investment savings account, Afaaq, in Kuwaiti dinars for individual customers. The new account is part of the Bank’s Burgan Bank continued effort to provide distinctive products and services for its customers. An Afaaq savings account is an added value product for the Bank’s customers who wish to save their money, collaborates and at the same time, achieve higher returns on their deposits. AUB’s new and existing customers can open an Afaaq sav- with Al-Kazemi ings account with a minimum deposit of KD 1,000. Customers will be able to deposit and withdraw their money at any given time and the estimated annual profits of 1 percent will be Travel & Tourism deposited as monthly payments to the account. As part of the Bank’s desire to recognize customers’ needs KUWAIT: Burgan Bank announced its latest exclusive and their passion for travel, AUB has launched a “Save More, partnership with Al-Kazemi Travel & Tourism that will Travel More” campaign for customers to win travel vouchers in entitle its customers with an exclusive 10 percent dis- association with opening an Afaaq savings account from 1 count on airline tickets. The new offer that is available on September 2018 until the 31 December 2018, and when they First, Business and Economy Class seats enables Burgan deposit money into this new account. The draw will be held on Bank customers to enjoy the experience of travelling 20 January 2019, where customers will have the chance to win without any hassle through its advantageous deals one of 28 valuable prizes of travel vouchers. The first prize is including highest quality tours, premium services and valued at KD 10,000, while the second prize is worth KD 5,000 personalized assistance. and the third prize is at a value of KD 2,500. The remaining 25 prizes are valued at KD 500 each. This agreement also grants free tickets to the follow- The winning customers through the “Save More, Travel ers of Burgan Bank’s on its social media platforms. More” campaign will be able to use the travel vouchers whilst The Al-Kazemi Travel & Tourism have been opera- booking their travel tickets and hotels at any preferred destina- tional for more than four decades, earning a reputable tion. Ranjan Sen, AUB’s Retail Banking General Manager stated name both locally and regionally. And with this offer, Al- in a press release: “With the launch of our new Investment Kazemi Travel & Tourism allow customers to reserve Savings Account, Afaaq, we aim to encourage savings amongst their tickets or choose from a variety of exotic and mem- our customers and in accordance with Islamic Sharia. The excit- orable adventurous packages personally or online. ing “Save More, Travel More” campaign is just one of many The agreement was signed by Haneen Al-Rumaihi, benefits that customers can enjoy when banking with AUB. We Assistant General Manager - Marketing & Product Kazemi, the Vice President & Deputy CEO, had signed it customers can profit from the exclusive 10 percent dis- are committed to satisfying our customers’ banking needs, development on behalf of Burgan Bank while Ali Al- representing Al-Kazemi Travel & Tourism. Burgan Bank counted offer by using any of Burgan Bank cards. offering the best possible service with added value benefits.” Established 1961 15 Business Sunday, September 16, 2018
BAYAN Weekly Market Report Boursa Kuwait equities close week mixed; indices fluctuate Market cap records weekly loss of around KD 45.64 million
KUWAIT: Boursa Kuwait ended last week with mixed performance. The Premier Market Index closed at 5,348.79 points, up 0.82 percent, the Main Market Index decreased by 2.20 percent after closing at 4,759.29 points, and the All- Share Index closed at 5,139.56 points down by 0.19 percent. Furthermore, last week’s average daily turnover increased by 5.89 percent, compared to the preced- ing week, reaching around KD 17.27 mil- lion, whereas trading volume average was about 86.58 million shares, recording an in the prior weeks. 1.69 percent growth rate as its index closed increase of 25.62 percent. The fluctuated performance of the at 873 points. The Telecommunications sec- The Boursa market capitalization Boursa last week came in parallel with the tor came in the second place, as its index recorded weekly loss of around KD 45.64 mixed performance of the trading indicators closed at 924.49 points recording 1.07 per- million, as it reached by the end of the week compared to the previous week, as the total cent increase, followed by Banks sector, to about KD 28.76 billion, down by 0.16 traded stocks increased during the week by achieving 0.59 percent growth rate as its percent of its level in a week earlier, where 0.50 percent, while the total trading value index closed at 1,079.97 points. it was KD 28.81 billion. The Boursa gains decreased at the end of the week by 15.29 since the implementation of the new market percent. Sectors’ Activity segmentation reached approximately KD Last week witnessed trading over 152 The Financial Services sector dominated 905.26 million, or 3.25 percent. (Note: The stock out of 175 listed stock in the Market, a total trade volume of around 115.90 mil- market capitalization for the listed compa- where prices of 57 stock increased against lion shares changing hands during last nies in the Boursa is calculated based on prices of 76 stock decreased, and prices of week, representing 33.46 percent of the the weighted average number of outstand- 42 stock remained at no change. total market trading volume. The Banks sec- ing shares as per the latest available official tor was second in terms of trading volume financial statements). Sectors’ Indices as the sector’s traded shares were 30.33 Moreover, the three indices’ perform- Six of Boursa Kuwait’s sectors ended last percent of last week’s total trading volume, ance fluctuated by the end of last week, and week in the red zone, while the other six with a total of around 105.04 million shares. only the Premier Market Index was able to recorded increases. Last week’s highest On the other hand, the Banks sector’s record gains to end the week’s trading in loser was the Real Estate sector, as its index stocks were the highest traded in terms of the green zone supported by the active col- declined by 8.07 percent to end the week’s value; with a turnover of around KD 35.64 lection operations that concentrated on the activity at 906.39 points, The Oil & Gas million or 51.58 percent of last week’s total leading and heavy stocks, while the Main sector was second on the losers’ list, which market trading value. The Industrial sector and All-Share indices closed by the end of index declined by 2.61 percent, closing at took the second place as the sector’s last the week with different losses, affected by 1,064.93 points, followed by the Consumer week turnover was approx. KD 13.54 mil- the strong selling pressures executed on Services sector, which index declined by lion representing 19.60 percent of the total wide range of small-cap stocks, in addition 0.98 percent, closing at 1,022.35 points. market trading value. —Prepared by the to the profit collection operations that On the other hand, Last week’s highest Studies & Research Department, Bayan included some stocks of previous increases gainer was the Technology sector, achieving Investment Co. US retail sales slow, but exhibit Some Venezuelans receive underlying new minimum wage, strength but firms struggle CARACAS: Some Venezuelans on known for metal-working in southern WASHINGTON: US retail sales recorded Friday began to receive their first Bolivar state, the local chamber of their smallest gain in six months in August as salary payment since the government commerce said a quarter of compa- consumers cut back on purchases of motor introduced a 60-fold minimum wage nies had shuttered this year and more vehicles and clothing, but upward revisions to increase, though companies warned it were closing each day, unable to July data kept intact expectations of strong was unaffordable and would add to weather the hyperinflation and strict economic growth in the third quarter. the devastation of business in the currency controls that strangle Other data on Friday showed the biggest country. imports. drop in import prices in more than 1-1/2 years Around a dozen firms and business The minimum wage rise would only in August amid a decline in the cost of fuels associations Reuters spoke to in dif- accelerate this, the chamber’s head and a range of other goods. The weak import NEW YORK: In this file photo, a man walks by cars for sale at a Queens auto dealership in ferent parts of Venezuela said they said. “We’re alarmed because what price data came on the heels of soft inflation could not pay salaries after the price we hear is companies don’t have the readings in August. New York City. Falling auto sales in August slowed US retail spending, but a higher-than- originally reported figure for July meant the overall pace was well above 2017. — AFP hike, which formed part of a package funds to pay wages,” said Ramon Signs of cooling consumer spending and of measures announced by President Espino, a union leader for local manu- inflation did not change views that the Federal Nicolas Maduro in August to halt facturer Carbonorca, which produces Reserve will raise interest rates later this ing component of gross domestic product. Weak auto sales Venezuela’s five-year recession. carbon anodes used to smelt alu- month. The US central bank has increased Core retail sales were previously reported The economy is poised for strong growth To try to balance the books, com- minum. In Carabobo state, once the borrowing costs twice this year. to have increased 0.5 percent in July. Despite in the third quarter and this year, but an esca- panies are lifting prices and firing country’s industry hub and now full of “The seas are calm for the economy with the slowdown in core retail sales in August, lating trade war between the United States employees, the firms and associations abandoned factories, the head of the enough wind in the sails to keep the expan- consumer spending remains supported by a and China is casting a shadow on the long- said. That could impel more business group Fedecamaras said 80 sion on track and not enough inflation pres- tightening labor market, which is steadily term outlook. President Donald Trump last Venezuelans to flee the crisis-stricken percent of companies had frozen sures out there to halt the economy’s forward pushing up wages. Annual wage growth week threatened duties on another $267 bil- country, adding to a mass exodus that activity this year. progress,” said Chris Rupkey, chief economist increased at its fastest pace in more than nine lion worth of Chinese goods on top of a $200 has already seen over 2 million In Carabobo’s capital Valencia, 36- at MUFG in New York. The Commerce years in August and there were a record 6.9 billion tariff list that is awaiting his decision. Venezuelans leave. year-old builder Jose Pereira stood in Department said retail sales edged up 0.1 million job openings in July. Spending is also Washington already has slapped duties on For those that did get their wages a queue outside a bank. He said his percent last month, the smallest rise since being underpinned by tax cuts and higher $50 billion worth of Chinese imports, provok- on Friday the price of goods had construction firm had told employees February. Data for July was revised higher to savings as well as high consumer sentiment. ing retaliation from Beijing. already surged in tandem, leaving in late August after the wage increase show sales rising 0.7 percent instead of the “Consumer spending will continue to The economy grew at a 4.2 percent annual- them no better off, according to that it could no longer afford to pay previously reported 0.5 percent gain. increase at a sturdy pace through the rest of ized rate in the April-June period, the fastest in around a dozen people Reuters spoke them. As severance, the company Economists polled by Reuters had forecast this year and into 2019, supporting overall nearly four years and almost double the 2.2 per- to as they waited in line to get paid. agreed to give them the new minimum retail sales increasing 0.4 percent in August. economic growth,” said Gus Faucher, chief cent pace set in the first quarter. Growth esti- Annual inflation hit 200,000 percent wage until mid-September, he said. Retail sales in August advanced 6.6 percent economist at PNC Financial in Pittsburgh. mates for the third quarter top a 3.0 percent in August, according to the opposi- “This has turned into a disgrace. from a year ago. Excluding automobiles, The dollar rose against a basket of curren- rate, but Hurricane Florence, which crashed into tion-controlled Congress, and the There’s no power, water, and now there’s gasoline, building materials and food services, cies on the data. US Treasury prices fell, lift- the Carolinas on Friday, could put a dent into International Monetary Fund forecasts no work,” he said, waiting to receive half retail sales nudged up 0.1 percent last month ing the yield on the benchmark 10-year note output. The hurricane could negatively impact it will hit 1 million percent this year. the new monthly wage of 1,800 bolivars, after an upwardly revised 0.8 percent jump in back above 3 percent. Stocks on Wall Street labor market, housing, retail sales and industrial In Puerto Ordaz, an industrial town or roughly $17. — Reuters July. These so-called core retail sales corre- were trading slightly lower. production data for September. —Reuters spond most closely with the consumer spend-
decision also said the timing for activating the pected a unit of the company, Columbia Gas, Wall St ends near additional tariffs was unclear. The move came was linked to a series of gas explosions in despite Treasury Secretary Steven Mnuchin’s Boston suburbs on Thursday. attempts to restart talks with Beijing. “There Shares of insurer Travelers were up 0.9 flat, but financials are a lot of headlines that have come out, peo- percent as analysts cut loss estimates from ple have been pretty active all week, and it’s Hurricane Florence as the storm weakened. climb with yields Friday afternoon. You don’t really want to add Walmart lost 0.6 percent after Goldman Sachs additional risk when you don’t know what raised questions around the purchase of a news might hit over the weekend,” said majority stake in India’s Flipkart. NEW YORK: US stocks ended little Michael O’Rourke, chief market strategist at Adobe Systems rose 2.3 percent, a day changed on Friday as financials rose with JonesTrading in Greenwich, Connecticut. after the company topped quarterly revenue bond yields, while news that President The Dow Jones Industrial Average rose and profit expectations. Advancing issues out- Donald Trump instructed aides to proceed 8.68 points, or 0.03 percent, to 26,154.67, the numbered declining ones on the NYSE by a with tariffs on about $200 billion of Chinese S&P 500 gained 0.83 point, or 0.03 percent, 1.04-to-1 ratio; on Nasdaq, a 1.12-to-1 ratio products limited gains. to 2,905.01 and the Nasdaq Composite favored advancers. The S&P financial index was up 0.7 per- dropped 3.67 points, or 0.05 percent, to The S&P 500 posted 51 new 52-week cent, leading percentage gains among sectors. 8,010.04. highs and no new lows; the Nasdaq Composite Benchmark US Treasury yields rose above 3 For the week, the Dow was up 0.9 percent, recorded 118 new highs and 68 new lows. percent earlier in the day but were last off the S&P 500 was up 1.2 percent and the About 6.2 billion shares changed hands on US those levels. At the same time, the rate-sensi- Nasdaq rose 1.4 percent. Also weighing on exchanges. That compares with the 6.1 billion NEW YORK: The closing numbers are displayed after the closing bell of the tive S&P utilities index fell 0.5 percent. utilities was NiSource, which tumbled 11.7 daily average for the past 20 trading days, Dow Industrial Average at the New York Stock Exchange in New York. —AFP A source familiar with the White House percent after fire investigators said they sus- according to Thomson Reuters data. — Reuters 16 Sunday, September 16, 2018
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