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Thunderstorm Floods Roads SUBSCRIPTION THURSDAY, OCTOBER 29, 2015 MUHARRAM 16, 1437 AH www.kuwaittimes.net Thunderstorm floods roads; Min 20º schools, flights suspended Max 38º High Tide 00:05 & 13:27 Authorities on full alert • Volunteers rush to help Low Tide 07:07 & 19:16 40 PAGES NO: 16681 150 FILS Kuwait delays By Meshaal Al-Enezi and Agencies KUWAIT: A thunderstorm hit the country early yester- day, leading to the suspension of schools and universi- Iraq reparations ties and flooding in some areas and roads. The Interior Ministry cautioned motorists from the possible continu- payment to 2017 ation of the thunderstorm, calling on people in Kuwait KUWAIT: Kuwait has agreed to let Iraq postpone a to contact the police and fire directorate’s emergency final batch of Saddam Hussain-era war reparations teams in case of emergencies. Officials from Kuwait it is owed until early 2017. The official Kuwait News University and the Ministry of Education released state- Agency reported yesterday that the state agreed to ments regarding the suspension of studies at schools give Iraq until Jan 2017 to pay the $4.6 billion repa- and universities due to the bad weather conditions. The rations package following a request from Baghdad. measure also took into consideration the safety of stu- The chairman of a Kuwait body charged with deal- dents and teaching staff at educational facilities. ing with claims stemming from Iraq’s 1990 invasion The Kuwait Meteorological Center warned that the and occupation of Kuwait, Khaled Al-Mudhaf, told weather would remain unstable and cloudy, with mod- the United Nations Compensation Commission in erate to strong southeasterly wind with speeds of 25-50 Geneva that Kuwait’s decision is based on its sym- km/h, causing rising dust and low visibility of less than pathy for Iraq and its understanding of the condi- 1,500 m in some areas and a chance of rain that might tions in the country. The final payment date was be thundery at times. already delayed once to 2016. Meanwhile, volunteers from the Kuwait Red Crescent Kuwait’s First Deputy Prime Minister and Foreign Society offered help to people affected by the stormy Minister Sheikh Sabah Al-Khaled Al-Hamad Al- weather in Jahra, the society’s chairman Dr Hilal Al- Sabah received a message in July from his Iraqi Sayer announced. counterpart Ibrahim Al-Jaafari requesting delay of Continued on Page 13 the last tranche of reparations for an additional year, added Mudhaf, the Chairman of the Public Schools off today Authority for Assessment of Compensation (PAAC). The request was supported by Kuwait’s govern- KUWAIT: Education Minister Dr Badr Al-Essa ment in solidarity with Iraq and the Iraqi people, announced late yesterday that all public and private with no effect whatsoever on the UNSC resolutions, KUWAIT: Cars navigate through flooded streets during a thunderstorm that hit Kuwait early yester- schools will be closed today due to the possibility of he said. Mudhaf stressed Kuwait’s readiness to offer day. — Photo by Yasser Al-Zayyat (More pics on Page 2) thunderstorms. — KUNA aid to Iraq through the UNCC regarding claims sub- mitted to the Iraqi judiciary. PAAC told the UNCC that the Kuwaiti government paid $520,248,230 in June, the total extra payment comprised in the UNCC resolutions, he said. — Agencies French embassy in US terminates Kuwaiti intern NEW YORK: A Kuwaiti intern at the French embassy in the United States was dismissed Tuesday after she was accused of publishing an anti-Semitic rant on Facebook. She was also suspended by Sciences Po university in Paris, where she was a student, pending further investi- gation, a faculty spokesman told AFP. The alleged com- ments were published Friday on the website of a group called “The Inglourious Basterds”, which says it aims to expose anti-Semitic postings. The student’s Facebook and Twitter pages were no longer available, and the date the alleged remarks were posted was unknown. “Yes you Jews deserve to learn these lessons,” the student said in a Facebook exchange, according to the Inglourious Basterds site - which bor- rows its name from a Quentin Tarantino movie about a band of Nazi-hunting Jewish soldiers. “You don’t belong anywhere in this world - that’s why you guys are scums and rats and discriminated against wherever you are. Continued on Page 13 MPs to debate sports situation By B Izzak KUWAIT: The National Assembly is expected to hold a special debate on the sports situation in the country after the International Olympic Committee slapped a total suspension on Kuwaiti sports for allegedly vio- lating the law. MP Abdullah Maayouf said that he and MP Abdullah Al-Turaiji will brief the Assembly on the meetings between IOC and Kuwait Olympic Committee and sports authorities about two weeks ago. The lawmaker said MPs will debate who is responsible for the suspension and what measures should the government take regarding the issue. Continued on Page 13 LOCAL THURSDAY, OCTOBER 29, 2015 Violent thunderstorm, flood hit Kuwait KUWAIT: A violent thunderstorm ravaged the country early yesterday morning, leading to the suspension of schools and universities and flooding in some areas and roads. Unstable weather and rains continued throughout the day. The Interior Ministry cautioned road users from the possible continuation of the thunderstorm till the evening. — Photos by Yasser Al-Zayyat Kuwaitis top GCC realty entrepreneurs in Saudi RIYADH: Kuwaiti realty entrepreneurs this sector in Riyadh are very much as judged from the current and fore- constitute majority of GCC investors in limited, he said noting that the invest- cast supply-except for the offices.” He the real-estate sector in Saudi Arabia, ing companies consider the city as a forecast launch of larger projects on said a local property expert. Although secondary market, with establishment huge spaces “exceeding the needs” this proportion is the highest at the of long-term funds, covering housing particularly in the hotels’ sector, future Gulf level “it remains limited and not and commercial investments. GCC citi- projects which have grown, thus lead- as robust as the Kuwaiti realty invest- zens’ investments in the realty sector ing to forecast robust competition in ment sector,” said Dr Hamad Al- in the Kingdom rose 20 percent in most of the Kingdom’s regions and Shwaier, head of the real-estate com- 2014, compared to 2013, with invest- main cities. He alluded stagnation in mittee at the Chamber of Commerce ment volume amounting to nearly 15 residential units’ sales to the mort- in Riyadh, in an interview with Kuwait billion Saudi riyal. gage law which compels the investor News Agency (KUNA) Most of the capitals that enter the to pay 30 percent in advance of the Most of the Kuwaiti real-estate Kingdom belong to major companies, unit cost. Volume of the demand set- investments are in Al-Sharqiah region, with significant operations in the Gulf tled at 200,000 units in end of 2014. Riyadh city and Aseer, and the Kuwaiti market, thus reflecting confidence in Turning to remedies, he mentioned companies are “eyed as the most the Saudi market, he said, adding that need for experienced companies, in important clients by the Saudi there are promising enterprises name- light of recent state resolutions allow- Chamber of Commerce at the Gulf ly construction of labor towns. Riyadh ing foreign investment in the direct investment level.” Kuwaiti entrepre- itself will witness construction of five retail sector. neurs are particularly lured to the new towns for the workers and engi- The recent resolutions allow the hotels’ sector, including the five-star neers-mostly to be built southwest of foreigners to acquire 100 percent of hotels and furnished ones, in addition the city, near industrial zones. Retail the traded assets, he said, however he to the commercial sector, namely sector “is the most prominent in terms called for regulations to stem the administrative offices and retails. of supply and demand .. and is also prices’ bullish trend to help the largest Dr Al-Shuwaier said a large seg- the most expanding one due to number of citizens possible to acquire ment of the Kuwaiti investors, includ- expansion of residential districts in plots. Meanwhile, the Kuwaiti busi- ing individuals and companies, are northern and eastern Riyadh,” said Dr nessman, Rakan Abdullah Al-Mekrad attracted to acquisition of residential Al-Shuwaier. said that most of the Kuwaiti invest- units either for investment or residen- As to his assessment of the sector’s ments are in residential units, namely cy, in all regions namely Riyadh, domestic growth, he said most of the flat apartments and villas. He indicat- Medina, Makkah and Al-Sharqiah. sectors in the field, namely housing, ed that a small number of Kuwaitis However, the Kuwaiti investments in hotels and retails are “rapidly growing invest in mega projects. — KUNA Issuing bonds key to tackle public budget deficit: Profs KUWAIT: Issuing bonds will be the most suitable step establishment of a truly open market, said the academ- to face the financial deficit in Kuwait’s public budget, ic. Fellow KU colleague and supervisor of the universi- said academics yesterday. Speaking in separate inter- ty’s World Trade Organization’s (WTO) studies depart- views, the academics said that issuing bonds will ment Dr Ahmad Al-Najjar said that the government’s increase income and productivity in the loans’ market decision to issue bonds will result in safe income in Kuwait. with far lesser risks. Instead of acquiring finances from the reserve fund for future generations, bond A bond market in Kuwait? issuing will far reach into the pockets of private enti- Professor of economics at Kuwait University (KU) Dr ties to lessen the load on the government, said Dr Al- Mohammad Al-Saqa said the government’s decision to Najjar, adding that banking and financing institu- issue bonds will be the possible cornerstone for estab- tions will “come running” to acquire bonds due to lishing a bonds market in the country.
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