SUBSCRIPTION MONDAY, DECEMBER 1, 2014 SAFAR 9, 1436 AH www.kuwaittimes.net Gulf women’s Acquitted Mourners Saudi spitter successes US couple celebrate life named AFC highlighted at banned from of Lebanese player of conference3 leaving7 Qatar diva40 Sabah the20 year Kuwait, Gulf stocks hit Min 06º Max 19º hard over OPEC decision High Tide 05:57 & 19:29 Oil plunge triggers panic selling MPs slam govt inaction Low Tide • 00:25 & 12:52 40 PAGES NO: 16359 150 FILS By B Izzak and Agencies Another MP KUWAIT: Gulf Arab stocks plunged yesterday on their first trading day since OPEC decided to maintain oil out- blasts India put in a move that sent crude prices crashing to five-year lows, analysts said. All seven bourses in the energy-rich guarantee Gulf Cooperation Council (GCC) had been closed for the Friday-Saturday weekend following OPEC’s decision late By B Izzak Thursday. Kuwait Stock Exchange price index dipped 3.3 percent to close at 6,754.60 points, the lowest level since KUWAIT: Another Kuwaiti lawmaker yesterday called on March 2013. The weighted index shed 5.9 percent. the Kuwaiti government to react to an Indian decision A number of MPs yesterday criticized the govern- requiring a $2,500 bank guarantee for each domestic ment’s inaction towards the Kuwait Stock Exchange. MP worker, saying that some of the measures should include Abdullah Al-Maayouf said the government is a spectator halting recruitment of manpower from the Asian giant. MP to the collapse of the bourse and the real estate and Faisal Al-Kandari, the second National Assembly member investment sectors. He said the government talks about to criticize the domestic labor guarantee imposed by New development and projects and transferring Kuwait into a Delhi, called on the interior, foreign and social affairs and regional financial and trade hub while at the same time labor ministries to respond in kind to the demand. does not make any move towards the losses of Kuwaiti Kandari said the Ministry of Social Affairs and Labor investors in the bourse. Maayouf said that MPs will not should consider halting recruitment of manpower from remain silent on the issue as “we will call for convening a India and issuing work permits in order to “apply pressure special session to discuss how to rescue traders”. on India”. He said that the Interior Ministry should not MP Youssef Al-Zalzalah said that there is a request to allow the Indian embassy to violate the rules and regula- tions in the country. The lawmaker also urged the foreign allocate a two-hour debate on the bourse during the ministry to cooperate with its counterparts in the Gulf next Assembly session tomorrow. MP Abdulrahman Al- Cooperation Council (GCC) states to take coordinated Jeeran said the existing Capital Market Law has many action against New Delhi over its financial guarantee deci- legal, administrative and accounting shortcomings, sion. adding that what is happening today in the bourse is MP Kamel Al-Awadhi had called on the government chaos that is not in line with Kuwait’s economic and Saturday to consider reducing the number of Indians in financial status. Jeeran said he will submit a draft law to Kuwait, who have reached 720,000, in protest against the propose amendments to the Capital Market Law includ- decision. Awadhi is the former head of the immigration ing the need to update information of traders, remove department. Kandari described the Indian measure as bogus dealers and provide a transparent database for all. provocative and said it could encourage other countries to The Saudi Tadawul All-Shares Index (TASI), the largest follow suit and impose even higher financial requirements in the Arab world, slumped more than 6.0 percent to on Kuwaiti citizens. below the 9,000-point mark immediately after opening. Kuwait is home to around 650,000 domestic helpers It recovered slightly to close down 4.76 percent at who frequently complain of physical and sexual abuse, are 8,624.89 points, the lowest since early January. Almost forced to work many hours with no weekly day off, while KUWAIT: Kuwaiti traders follow the market activity at the Kuwait Stock Exchange (KSE) in Kuwait City yester- all of the market’s gains this year have evaporated. some complain of non-payment of salaries. day. — Photo by Yasser Al-Zayyat (See Page 21) Continued on Page 13 CONDOLENCES Management and staff convey their deepest condolences to Al-Ghanim family on the sad demise of Abdulaziz Mohammad Thunayan Al-Ghanim May Allah Almighty bestow His mercy on him MONDAY, DECEMBER 1, 2014 LOCAL KUWAIT: His Highness Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah with OIC Secretary General Iyad Madani. — KUNA HH the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah with Egyptian Minister Mounir Fakhry. Deputy Amir, Prime Minister receive OIC Secretary General KUWAIT: His Highness the Deputy Amir and hailed the OIC Secretary General for his bids Khaled Al-Hamad Al-Sabah, Deputy Premier Sheikh Jaber received the visiting Egyptian means of enhancing cooperation and soli- Crown Prince Sheikh Nawaf Al-Ahmad Al- for enhancing collective Islamic efforts and Minister of Defense Sheikh Khaled Al- Trade and Industry Minister, Mounir Fakhry darity with member states and exchanged Jaber Al-Sabah received at Seif Palace yester- stressing that the Islamic method is the Jarrah Al-Sabah and Minister of State for Abdel Nour, and Cambodian Minister of views on the OIC’s future programs and day First Deputy Prime Minister and Foreign approach of moderation, love and tolerance Cabinet Affairs Sheikh Mohammad Al- Commerce Sun Chanthol. Deputy Prime plans. They also focused on preparations for Minister Sheikh Sabah Al-Khaled Al-Hamad and rejection of intellectual extremism and Abdullah Al-Mubarak Al-Sabah. Minister and Minister of Commerce and hosting the 42nd session of the OIC’s foreign Al-Sabah, as well as Secretary General of the terrorism. Meanwhile, HH the Prime Minister Industry Abdulmohsen Al-Mudej attended ministers, which takes place in Kuwait next Organization of Islamic Cooperation (OIC) HH Sheikh Nawaf also received HH the received the OIC Secretary General and his both meetings. year. Later, OIC Secretary General and his Iyad Amin Madani and his accompanying Prime Minister Sheikh Jaber Al-Mubarak Al- accompanying delegation, with presence of Also yesterday, Foreign Minister Sheikh accompanying delegation were invited a delegation. Hamad Al-Sabah, Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khaled and Sabah Al-Khaled held a meeting with luncheon held by Sheikh Sabah Al-Khaled on During the meeting, HH the Deputy Amir Minister of Interior Sheikh Mohammad Al- several other officials. Furthermore, HH Madani, and the two sides reviewed the their honor. — KUNA 31st NUKS conference concludes in San Francisco Al-Wihda won elections - Convention attracts media SAN FRANCISCO: The 31st Convention of the board approved its financial and management National Union of Kuwait Students (NUKS) con- report, which it said displayed transparency. cluded in San Francisco, California late on During the process students were given the Saturday. Kuwait’s ambassador to the United opportunity to make enquiries on the matter, States Sheikh Salem Abdullah Al-Jaber Al- and exchange viewpoints on the funding of Sabah announced the conclusion of the con- cultural activities along with choosing the del- ference that was held under the patronage of egates, who would be tasked with these affairs. His Highness the Prime Minister Sheikh Jaber KUWAIT: Kuwaiti Foreign Ministry Undersecretary Khaled Al-Jarallah met yester- Al-Mubarak Al-Hamad Al-Sabah. Media support day with UK Ambassador to Kuwait Matthew James Lodge, German Ambassador The Kuwaiti ambassador congratulated the Separately, a number of media figures Eugen Wollfarth and French Ambassador to Kuwait Christian Nakhla. Jarallah and students for the wonderful success of this con- attending the event said yesterday that they foreign ambassadors reviewed latest developments on Iran’s nuclear file. The ference, recalling the first assembly which he have come to the convention to support the meeting was attended by Director of the Undersecretary’s Office Ayham Abdul- attended in Chicago in 2002, which was attend- students and showcase their ambitions and Latif Al-Omar. —KUNA ed by 260 students compared with this year’s point of views. gathering in which some 3,000 students from Media figure Thamer Al-Dakhil said Kuwait throughout the United States had taken part. pays great attention towards investing in stu- Society in need for He praised the two lists which competed for dents, sending thousands of them to study membership of the union, extolling the spirit abroad at the best international universities. women’s efforts: Maatouq and fair competition that prevailed throughout Electronic media specialist Omar Al-Othman, the elections, describing the competition as on his part, noted the importance of social KUWAIT: The society is in dire need for role of women in voluntary and charitable “transparent”. media networks in transferring and constantly Al-Wihda List won the National Union of updating information about the event to SAN FRANCISCO: Ambassador Sheikh Salem women’s voluntary and charitable efforts, work, calling for giving them the opportuni- Al-Sabah speaks at the ceremony. — KUNA particularly amid the wars and disasters ty to fulfil it. He referred to nine female Kuwaiti Students - USA Branch 2014-15 elec- Kuwait and the families of the students. that have afflicted the Muslim states, cadres form around the Muslim world in the tions, with around 57 percent of votes, during Meanwhile, officials of the Kuwaiti examining their problems and issues. Some Chairman of the Islamic IICO General Assembly, offer- the union’s annual conference on Saturday. Al- Cultural Office in the US and the Ministry of 9,500 Kuwaiti citizens currently study in the Charitable Organization ing them the chance to run Wihda List took 1,244 votes out of a total 2,183.