Kuwaittimes 14-11-2018.Qxp Layout 1
RABI ALAWWAL 6,1440 AH WEDNESDAY, NOVEMBER 14, 2018
22º 28 Pages Max 150 Fils Established 1961 Min 20º
ISSUE NO: 17683 The First Daily in the Arabian Gulf www.kuwaittimes.net
Crown Prince returns Smartphones double-edged Search for bodies, answers Williams sparks Clippers over 2 home after private visit 6 sword for terrorist outfits 24 after Calif wildfire kills 42 28 Warriors in overtime upset
All schools, public bodies shut as heavy rain forecast
Govt forms fact-finding committee • Oil minister forced to submit probe report
By B Izzak
Amir, Abbas hold official talks KUWAIT: The government yesterday decided to sus- Call to scrap pend work at all ministries, state institutions, universities and public and private schools today as a precautionary 10-year-old measure. The step was taken in line with forecasts by local and global meteorologists that the country will wit- ness unstable weather conditions in the coming hours. cars rejected Forecasts indicate heavy downpours and active winds By A Saleh with high speed, the Cabinet said on its Twitter account yesterday. It added the precautionary move was taken to KUWAIT: The ministerial services committee ensure the safety of both citizens and expatriates. The rejected a proposal from the traffic council that Cabinet appealed to all people to be cautious and follow called for banning 10-year-old cars from the road, instructions and guidelines issued by official bodies and and preferred to wait because the time is “not suit- Kuwait TV in this matter. It prayed to Allah to protect the able”. Sources said the proposal is one of several country and people from any risks. For its part, the Civil presented to the council to deal with the traffic cri- Service Commission announced today will be a day off, sis and reduce traffic congestion. in line with the Cabinet’s decision. They said the Environment Public Authority Earlier yesterday, Minister of Public Works Hussam presented the proposal to make the air cleaner Al-Roumi told the National Assembly that the govern- from emissions produced by old cars, adding that ment has launched a fact-finding investigation into the it expects cars in Kuwait’s climate to perform well heavy rains that lashed the country during the past two for no more than seven years, because high tem- weeks. The committee, which has independent represen- peratures do not allow cars to remain in good con- tatives, has been given complete authority to carry out dition long enough. its investigation on the results of flooding that caused Sources said EPA believes vehicular emissions severe devastation in several areas of the country. affect the environment, and this is why it wanted to KUWAIT: HH the Amir Sheikh Sabah Al-Ahmad Al- relations and means of boosting them in various fields The announcement came during a special debate participate in the technical inspection of vehicles Jaber Al-Sabah received yesterday at Bayan Palace and expanding cooperation frameworks between the called by MPs over what they allege is a government to ensure that cars do not have noxious emissions. Palestinian President Mahmoud Abbas and his accom- two countries in a way that serves their common inter- failure to face the heavy rains and their impact. But the But the ministerial services committee believes panying delegation, and official talks were held between ests. The talks were held in a cordial atmosphere amid debate could not be completed as the Assembly could implementing this proposal will constitute a finan- the two sides. Minister of Amiri Diwan Affairs Sheikh Ali keenness of both sides to bolster cooperation and coor- not extend the duration of the session because of a lack cial burden on citizens and expats. Jarrah Al-Sabah said that the talks dealt with bilateral dination at all levels, he added. — KUNA of quorum. Continued on Page 24
Gulf economy Al-Kharafi empowers women at Zain Fewer foreign KUWAIT: Zain Group, the leading recovering, mobile telecom innovator in eight students coming markets across the Middle East and but faces oil Africa hosted its second annual to United States Women Empowerment forum at the WASHINGTON: The number of international students Four Seasons Hotel, Kuwait on volatility: IMF entering US colleges and universities has fallen for the Monday, gathering 300 female par- second year in a row, a nonprofit group said yesterday, ticipants from across the group, DUBAI: Economic growth in the energy-rich Gulf will amid efforts by the Trump administration to tighten including CEOs of each Zain opera- recover in 2018 from a contraction last year but restrictions on foreigners studying in the United States. tion and their respective human remains vulnerable to volatility in crude oil prices, the New enrollments for the 2017-18 school year slumped resources heads. The initiative is the IMF said yesterday. The global lender predicted that an 6.6 percent compared with the previous year, according brainchild of Zain Vice-Chairman overall energy price recovery from 2015-2016 lows to an annual survey released by the Institute of and Group CEO, Bader Al-Kharafi, would spur the economies of the six-nation Gulf International Education. That follows a 3.3 percent who delivered informative keynote Cooperation Council to grow by 2.4 percent in 2018 decline in new international students tallied in the 2016- addresses on leadership develop- and 3.0 percent in 2019, after a contraction of 0.4 per- 17 academic year. ment as well as holding discussions cent last year. Several factors are driving the decrease. Visa and with the participants. immigration policy changes by the Trump administration Grouping Bahrain, Kuwait, Oman, Qatar, Saudi KUWAIT: Zain Vice-Chairman and Group CEO Bader Al-Kharafi delivers the Reaffirming his personal commit- have deterred some international students from enrolling, Arabia and the United Arab Emirates, the GCC states keynote address during the annual Women Empowerment Forum on Monday. ment to women empowerment with- college administrators and immigration analysts said. A together pump over 17 million barrels per day and in Zain, Kharafi made two significant strong dollar has made US college tuition relatively more depend heavily on crude revenues. But “the growth of inclusiveness and equal opportu- both the development of more ‘regional first’ announcements - one expensive, Canadian and European universities are com- outlook for oil exporters remains subject to significant nities in which Zain personnel across future female leaders and in more being the application of flexible peting fiercely for the same students and headlines about uncertainty about the future path of oil prices,” the IMF all operations may work productive- females joining the company. I firm- hours for working mothers with mass shootings also may have deterred some students, said in its Regional Economic Outlook for the Middle ly and thrive. ly believe that championing gender children up to kindergarten age, and said Allan Goodman, president of IIE. East and North Africa (MENA). Commenting on the second diversity at Zain will create com- two, the creation of a new position “Everything matters from safety, to cost, to perhaps After their earlier extended recovery, oil prices have annual forum and the progress to petitive differentiation, fast-track and appointment of Maryam Saif as perceptions of visa policy,” Goodman said. “We’re not shed a fifth of their value in just one month, with Brent date, Kharafi said: “We are confi- our strategic ambitions of unlocking Chief Inclusion and Diversity Officer hearing that students feel they can’t come here. We’re crude trading Tuesday at under $70 a barrel for the dent that implementing a series of the tremendous growth opportuni- (CIDO) to drive new empowerment hearing that they have choices. We’re hearing that there’s first time since April. targeted women empowerment ini- ties in the digital arena and at the initiatives that define, enhance and competition from other countries.” Continued on Page 24 tiatives through awareness, realiza- same time improve the company’s Continued on Page 24 continue to cultivate an environment tion and motivation will result in bottom line.” (See Page 11)
Council to discuss the escalation of violence. as both sides warned the other that it would Hamas announces Kuwait, which represents Arab countries at respond forcefully to any further violence. the council, and Bolivia asked that the closed- Egypt has negotiated ceasefires following door meeting be held later yesterday, diplo- previous flare-ups, while UN Middle East truce with Israel; mats said. envoy Nickolay Mladenov has also been “Egypt’s efforts have been able to achieve seeking a long-term truce between the two Kuwait requests a ceasefire between the resistance and the sides in recent weeks. Mladenov had earlier Zionist enemy,” the statement by the Gaza called the escalation “extremely dangerous” groups said. “The resistance will respect this and said on Twitter that “restraint must be UNSC meeting declaration as long as the Zionist enemy shown by all”. After an Israeli security cabinet respects it.” The violent escalation between meeting that reportedly lasted some six hours GAZA CITY: Palestinian militant groups in Israel and Palestinian militants in Gaza was yesterday, a statement was issued saying the the Gaza Strip announced an Egyptian-bro- the worst since a 2014 war. Seven Palestinians ministers “instructed the (military) to continue kered ceasefire with Israel yesterday after a were killed in Gaza over the course of some its operations as necessary”. Netanyahu had severe escalation of violence threatened to 24 hours as Israeli strikes targeted militants cut short a visit to Paris as tensions rose and descend into full-blown war. The groups, and flattened buildings while sending fireballs arrived back home on Monday. including Hamas, issued a joint statement say- and plumes of smoke into the sky. The latest round of violence began on ing they would abide by the ceasefire as long Sirens wailed in southern Israel and tens of Sunday with a botched Israeli special forces as Israel did the same. Israeli Prime Minister thousands of residents had taken cover in operation inside the Gaza Strip that turned Benjamin Netanyahu’s office and the military shelters as around 460 rockets and mortar deadly and prompted Hamas to vow revenge. had not commented on the announcement. rounds were fired from the Gaza Strip, The clash that resulted from the blown covert Israel’s hardline defense minister, Avigdor wounding 27 people, including three severely. operation killed seven Palestinian militants, Lieberman, issued a statement saying he did A Palestinian laborer from the occupied West including a local Hamas military commander, HEBRON: Palestinian protesters hold anti-Israeli signs and wave national flags not support stopping the strikes. Bank was killed when a rocket hit a building as well as an Israeli army officer. Palestinian yesterday during a demonstration in this West Bank town against the Israeli air Kuwait and Bolivia yesterday requested in the Israeli city of Ashkelon. Schools were militants responded with rocket and mortar strikes on Gaza. — AFP an urgent meeting of the UN Security closed in the Gaza Strip and in southern Israel Continued on Page 24 2 Established 1961 Local Wednesday, November 14, 2018 Palestinian leader grants Crown Prince highest merit
Speaker, Prime Minister, other officials also decorated
KUWAIT: His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah meets with Palestinian President Mahmoud Abbas and members Palestinian President Mahmoud Abbas grants National Assembly Speaker of the Palestinian delegation at Bayan Palace yesterday. — Amiri Diwan photos Marzouq Al-Ghanem the Grand Collar of the State of Palestine.
Palestinian President Mahmoud Abbas grants His Highness the Prime Palestinian President Mahmoud Abbas grants Deputy Prime Minister Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah the Grand Collar and Foreign Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah Palestinian President Mahmoud Abbas grants Deputy Foreign Minister of the State of Palestine. Palestine’s Star of Jerusalem. Khaled Al-Jarallah the Star of Jerusalem.
KUWAIT: Palestinian President Mahmoud Abbas decorated His Highness Amiri Diwan and Director of His Highness the Amir’s Office Ahmad Al- Mission Amiri Diwan Advisor Ali Fahad Al-Rashed. President Abbas met the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah with Fahad, Chief of the Amiri Protocols Sheikh Khaled Al-Abdullah Al-Sabah with His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah Palestine’s highest merit of honor at Bayan Palace yesterday. The Palestinian Al-Nasser Al-Sabah and Deputy Foreign Minister Khaled Al-Jarallah were yesterday, and also attended a luncheon banquet His Highness held in his leader also granted National Assembly Speaker Marzouq Al-Ghanem and also awarded the Star of Jerusalem. honor at Bayan Palace. President Abbas also received His Highness His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al- President Abbas had arrived in Kuwait on Monday for official talks Sheikh Jaber Al-Mubarak, Speaker Ghanem and Foreign Minister Sheikh Sabah the Grand Collar of the State of Palestine. Deputy Prime Minister with His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah. Sabah Al-Khaled at his residence at Bayan Palace. President Abbas con- and Foreign Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah was Upon arrival, the Palestinian President was received by Minister of Amiri cluded his visit to Kuwait later yesterday, and was seen off at the airport also decorated with Palestine’s Star of Jerusalem. Undersecretary of the Diwan Affairs Sheikh Ali Jarrah Al-Sabah and President of the Honorary by Sheikh Ali Jarrah Al-Sabah. — KUNA
Crown Prince back home
KUWAIT: The Ambassador of Italy to Kuwait Giuseppe Scognamiglio visited Kuwait Times recently and discussed matters of mutual concern with Editor-in-Chief Abd Al-Rahman Al-Alyan.
KUWAIT: His Highness the Crown Prince Sheikh port by National Assembly Speaker Marzouq Al- Nawaf Al-Ahmad Al-Jaber Al-Sabah has returned Ghanem, His Highness the Prime Minister Sheikh home following yesterday a private visit. His Jaber Al-Mubarak Al-Hamad Al-Sabah and several Highness the Crown Prince was received at the air- other senior state officials. — KUNA Italian Week 2018 kicks off next week By Ben Garcia tifaceted Italian culture, lifestyle, extraordinary taste and industry, and KUWAIT: The Italian Embassy in celebrate the countries’ strong Kuwait announced yesterday the friendship and excellent relations KUWAIT: The Ambassador of Germany to Kuwait Karl Bergner, along with Deputy Head of Mission Italian Week 2018 will be held on while exploring the many ways to Rudiger Zettel, visited Kuwait Times and held discussions with Editor-in-Chief Abd Al-Rahman Al- Nov 18-25 to showcase Italian make them more colorful. To start Alyan that focused on issues of common interest. — Photos by Joseph Shagra brands and celebrate the friendship the event, the Italian air force acro- between Kuwait and Italy. Italian batic team Frecce Tricolori, the Ambassador to Kuwait Guiseppe world’s largest acrobatic formation, agency, Mishari Al-Muzaini, First refugees for around 70 years. The Scognamiglio said in a press confer- will showcase their skills. Three aeri- Kuwait reiterates Secretary at Kuwait’s Permanent UN Relief and Works Agency for ence yesterday that Kuwaitis love al displays will be held for two days Mission to the UN, told UN General Palestine Refugees in the Near Italy and its products. “The success on Nov 17 and 18 from 1:50 pm to support to UNRWA Assembly’s Fourth Committee that East provides assistance and pro- of the two previous editions of 2:50 pm along Gulf Road between was discussing UNRWA on tection to Palestine refugees in Italian Week in 2016 and 2017 led us the Kuwait Towers and Green Island. NEW YORK: Kuwait has reiterat- Monday night. He called on the Jordan, Lebanon, Syria, the Gaza to repeat and consolidate this KUWAIT: Italian Ambassador Scognamiglio thanked Ali Al- ed keenness to support UN international community to continue Strip and the West Bank, including important initiative. We especially Guiseppe Scognamiglio speaks dur- Youha, Secretary General of the Palestinian refugees agency’s edu- financial contributions to UNRWA East Jerusalem. “I would like to intend to present to our Kuwaiti ing a press conference yesterday. National Council for Culture, Arts and cational, medical and humanitarian to enable it continue services to the reaffirm my country’s historic and friends a rich variety of events, rang- Letters, as well as the staff of Jaber operations through financial contri- Palestinian refugees. firm support of humanitarian caus- ing from music to art and design, Al-Ahmad Cultural Centre, Abdullah bution to its budget. Kuwait con- Muzaini, who thanked UNRWA es, which is a major pillar of from fashion to gastronomy, from science to language and culture. We Al-Salem Cultural Centre and The tributed $50 million to UNRWA workers for providing services in Kuwait’s foreign policy, and reiter- technology and the promotion of also wish to expand their knowledge Avenues mall, whose valuable collab- this year in a bid to address short- unsafe environments, said the UN ate our support to the UN agency ‘Made by Italy’ to the wonders of of Italy and its distinctions,” he said. oration was essential for the organiza- age of funding following US deci- agency has been offering help for specially in this critical time,” said our advanced industries, and from Activities aim to display the mul- tion of Italian Week 2018. sion to cease financing to the UN over five million Palestinian Muzaini. — KUNA Established 1961 3 Local Wednesday, November 14, 2018 Cabinet reviews preparations to face expected heavy rains Minister calls for forming fact-finding committee to identify deficiencies
KUWAIT: The cabinet went over the implementations ties. The decisive role of citizens in assisting the securi- of plans and preparations to face the consequences of ty services was much appreciated, as it reflects the high heavy rains which are expected starting today, as the spirits of the people and they wished safety and well- Minister of Public Works and Minister of State of being of the citizens under these conditions, and the Municipal Affairs Hossam Al-Roumi reviewed for the cabinet has appointed a committee comprising repre- cabinet the efforts put forth to remove all obstacles that sentatives of the Fatwa and Legislation Department, impede the flow of rainwater and causing the streets to Ministry of Finance, the Federation of Insurance flood, and so the works and efforts of the emergency Companies and other concerned authorities to prepare teams were presented. This came during the cabinet’s the appropriate for those affected. The cabinet also weekly meeting held at Seif Palace on Monday under decided to pay legal fees under sharia law to the family the chairmanship of His Highness the Prime Minister of the late Ahmad Al-Fadhli who died during the heavy Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah. rainfalls last week. Response mechanisms have been placed across the Meanwhile, the Minister of Oil and Minister of Water country ahead of another anticipated spell of heavy rains and Electricity Bakheet Al-Rasheedi went over the suc- today, a government commit- cessful tasks of the oil sector tee tasked with addressing the which was the first to export natural threat has said. The its first shipment of high quali- recently-formed coordinative ty light oil under the patronage committee for rain emergen- Response of His Highness the Amir cies was designed to ensure efforts readied Sheikh Sabah Al-Ahmad Al- KUWAIT: His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah chairs the the safety of the lives of Jaber Al-Sabah, to be cabinet’s weekly meeting on Monday. —KUNA nationals and residents alike, nationwide engrained as a significant step Roumi said yesterday. in the oil sector. This produc- Meanwhile, Roumi called tion is due to the development the countries and ways of strengthening and develop- Arab and international levels, and in this regard, the on the cabinet to form a fact- of the Jurassic gas fields in ing them in all fields to better serve the interest of both cabinet expressed condolences for the victims of the finding committee on all the northern Kuwait, where the sides. The cabinet then welcomed the visit of the flash floods that occurred in the Hashemite Kingdom of effects and consequences of production capacity of the Palestinian President Mahmoud Abbas and the delega- Jordan, which resulted in many victims and missing. the rains and to identify deficiencies and faults of which Jurassic gas amounted to 500 million cubic feet per tion accompanying him, which comes as part of the Deep sympathy was offered to King Abdullah II of official is responsible for, including representatives of day and about 175 thousand barrels per day of light oil. close relations between the two nations. Deputy Prime Jordan and the families victims. The cabinet also the Department of Fatwa and Legislation, Kuwait Minister and Foreign Minister Sheikh Sabah Al-Khaled offered strong condemnation for the bombing in the University, the Institute of Scientific Research and the Iraqi President’s visit Al-Hamad Al-Sabah presented an explanation to the northern Iraqi city of Mosul, as well as the attacks in Kuwaiti Society of Engineers and the Kuwaiti Lawyers After the meeting, Deputy Prime Minister and cabinet on the result of the recent envoy of the the Somali capital Mogadishu that resulted in the Association. He asked that the committee submit its Minister of State for Cabinet Affairs Anas Al-Saleh President of the Republic of Niger, which consistent of deaths and injury of tens of incent people. The cabinet reports to the cabinet within two weeks. reviewed what was discussed during the meeting. His assessments of bilateral relations and how to improve assured Kuwait’s position against these acts of aggres- The cabinet praised efforts of the employees of the Highness the Prime Minister Sheikh Jaber Al-Mubarak them on all levels and fields along with discussions on sion and terrorism in all its forms and stressed the Defense Ministry, Ministry of Interior, National Guard, Al-Hamad Al-Sabah noted his works of the Iraqi recent developments of the political events. importance of combined efforts of the international Ministry of Public Works, General Authority for Roads President Barham Saleh’s visit and the delegation community in facing such actions. The cabinet also and Land Transport, the Ministry of Health, the Ministry accompanying him, which resulted with a very positive Political issues expressed sorrow and sympathy for the recent forest of Information, General Directorate of Firefighting, outcome, as His Highness the Amir also held talks with The cabinet also discussed political issues focusing fire in the State of California, which resulted in the Kuwait’s Municipality, and various competent authori- Saleh dealing with ongoing bilateral relations between on current developments in the political arena at the dozens of fatalities and injuries. — KUNA
Shelters provided around Kuwait in case of flooding 4 Wednesday, November 14, 2018 Local
Photo of the Day
KUWAIT: Kuwait City skyscrapers pictured at sunset yesterday. — Photo by Yasser Al-Zayyat New medications can help tackle spread of diabetes: Kuwaiti doctors Kuwait ranked second over number of diabetic patients KUWAIT: Health officials and specialists in Kuwait yes- other associated diseases like heart attacks, strokes and Diabetes Federation pointed terday hoped new medications help address wide-scale kidney failure,” said Attar who noted there were more out that Kuwait was the spread of the disease, affecting up to a staggering 19 than 400 million diabetics around the world. He com- world’s second country, fol- percent of Kuwait’s population, while asserting impor- mended health care for diabetics in Kuwait, and lowing Finland, with the tance of preventive measures at early age. They warned stressed importance of applying preventive measures. number of diabetic patients. against neglecting diabetes as around 441,000 people Diabetics in Kuwait, mostly in Kuwait were diabetics in 2017. type II, are between 20 and The Ministry of Health (MoH) is keen on providing 79 years old, Essa said and the latest medications for diabetes patients, and Kuwait 441,000 attributed infection to family has witnessed ‘a boom’ in treatment of the disease, MoH history, obesity, and high Assistant Undersecretary for Pharmaceutical and Food diabetic consumption of food with Supervision Dr Abdullah Al-Bader said. Speaking on high carbohydrate and sugar occasion of World Diabetes Day, which is due today, patients in Dr Abdullah Al-Bader Dr Abdunnabi Al-Attar Dr Thamer Al-Essa levels. The Gulf Cooperation Bader said MoH approved new biological medicine as Council (GCC) countries are well as drugs to be used once a week “thus preventing Kuwait urged every person who were 40 years old to do sugar among the top 10 Middle the patient from using daily injection.” He explained level test once a year. Eastern countries with diabetes, he said. Dr Yusuf Bu “upgraded insulin were provided which can improve Dr Aba’ Al-Aziri, Executive Director of Medical Sector Abbas, head of Kuwait obese association, said more than control of diabetes types I and II.” Diabetes, said Bader, at Dasman Diabetes Institute, said joint studies with the 90 percent of type II diabetes was linked to overweight, was a chronic disease thus MoH reduced price to offer Attar, who said diabetes type II was the most com- World Health Organization (WHO) showed diabetes were affecting people between 15-20 years old and could have efficient and affordable drugs. mon with an infection rate at around 60 percent, urged spreading among age group 18-69 years. She noted that harmful impacts on kidneys, eyes, nerves and heart. The Dr Abdunnabi Al-Attar, head of Diabetes Unit at people to exercise as a form of prevention. Walking for studies showed people should change their life style in World Diabetes Day marks the birthday of Frederick Amiri Hospital, said treatment of diabetes was a burden 30 minutes every day, losing extra weight and eating order to either treat or manage diabetes. Endocrinologist Banting, whose work with Charles Best led to the discov- on the society and state. “The diabetic is qualified for fibre-rich food are forms of prevention, he said. Attar Dr Thamer Al-Essa said a 2017 study by the International ery of insulin in 1921. — KUNA
Municipality sets 18 camping Gulf Bank concludes KIB hosts German locations of 616 square km cybersecurity seminar Clinic team for KUWAIT: Kuwait Municipality announced 18 locations of 616 for bank leadership employees’ check-up square kilometers north, west and south of the country for KUWAIT: Gulf Bank concluded an the camping season, which intensive cybersecurity workshop KUWAIT: On the occasion of World Diabetes Day, starts tomorrow. which is observed around the world on November 14, involving Gulf Bank’s leadership The municipality had also team and Board. The initiative came KIB hosted a team from Salmiya German Medical set three locations for public Laboratory at its head office. During its visit, the team about as the result of Central Bank’s services and security check- guidelines; ensuring banks are ahead conducted a number of medical examinations for all KIB points around the camping of challenges and changes happen- employees, including diabetes tests, blood pressure areas, the municipality’s ing within the digital space that check-ups, and additionally offered medical advice and Public Relations Director and could have an impact on the banking health tips to reduce the risk of diabetes. Spokesman Abdulmohsen sector and its adequate functioning. On this occasion, KIB noted that this initiative came Aba-Alkheil said in a state- The training saw cybersecurity as part of its ongoing commitment to supporting its ment yesterday. He added that expert Andrew Beckett, Managing human capital. The bank also lauded its staff’s active the municipality’s official Director and EMEA Practice Head interest in this important initiative. Accordingly, KIB Salma Al-Hajjaj website is now open for filling Cyber Risk, Kroll, guide Gulf Bank’s continues to organize a range of different activities and request forms for camping leaders through a cybersecurity land- initiatives that aim at promoting health awareness, permits and for paying insur- scape journey, highlighting practical examples on how this new healthy habits, and an overall healthy lifestyle for its ance to receive the permits. challenge has affected banks across the world. The emphasis of employees. Meanwhile, he said that those the training revolved around key steps that all banks in the digital This initiative came as part of a long series of activi- who want to request a permit era need to take into consideration. The steps were created to ties organized by KIB, aiming at supporting impactful ensure that data integrity and transactions are safe and secure. initiatives. For this reason, the bank continues to organ- must be 21 years of age and above, and are required to The training also included regional and global case studies. ize and participate in a number of initiatives that are Commenting on the importance of protecting the Bank’s data either community-based, entertaining, or aim at pro- pay KD 50 for the permit and KD 300 as temporary insur- and its customer’s information, Gulf Bank’s General Manager, moting awareness. By doing so, the bank focuses on the Human Resources Salma Al-Hajjaj stated, “We at Gulf Bank take ance money. Each camping importance of human resources, driving organizational Cyber Risk very seriously. This challenge is something that we are permit is for no more than results by raising their morale and motivating them to addressing effectively to ensure that our data integrity and client achieve more success. 1,000 meters of land, the transaction are safe from any malicious attempts.” director noted. — KUNA KUWAIT: A map showing the designated camping locations in red. — KUNA 5 Local Wednesday, November 14, 2018 Handing back Kuwaiti archives step forward: Iraqi official Looted items returned in ceremony at Diplomatic Institute
KUWAIT: Iraqi Foreign Ministry Undersecretary Hazem Al-Youssefi (center) attends a ceremony held yesterday at Saud Al-Nasser Al-Sabah Diplomatic Items looted from the Kuwaiti national archives during the Iraqi Invasion of Institute to celebrate handing back state TV and radio archives to Kuwait. —KUNA Kuwait, are seen after being returned to Kuwait.
KUWAIT: Handing back state TV and Having newly-elected President Minister for International Organizations, radio archives to Kuwait comes as a step Barham Saleh make Kuwait his first desti- said meanwhile that Kuwaiti POWs and within Iraq’s determination to make amends nation for an official visit abroad is proof the missing during the invasion is the and fully restore relations with Kuwait on that good relations with Kuwait is in the most important issue for Kuwait. “We see the backdrop of the 1990 invasion and heart of Iraq’s political interests, noted the fate of the 369 missing as a pressing occupation, an Iraqi senior diplomat said Youssefi, adding that handing back the issue. The Ministry of Foreign Affairs will yesterday. Iraq is keen to build bilateral archives also comes in line with relevant spare no effort in this regard,” he relations with neighborly Kuwait on a Security Council resolutions. It came stressed. However, UNDP Resident sound foundation in lieu of the relationship “after efforts were exerted, in accordance Representative and Coordinator in to return even better, said Iraqi Foreign with Security Council resolution 2107,” Kuwait Dr Tarek El-Sheikh said that such Ministry Undersecretary Hazem Al- added the official. Iraqi forces looted positive step; which Kuwaiti and Iraqi for- Youssefi. He made the remarks on the side- Kuwaiti national archives, including those eign ministries deserve praise for, mani- lines of a ceremony held yesterday at Saud of TV and Radio, during the seven-month fests determination of both countries to Al-Nasser Al-Sabah Diplomatic Institute to occupation of Kuwait in 1990-91. turn a new leaf and carry on with the best celebrate the archives handing in. Nasser Al-Hayyen, Assistant Foreign of neighborly conduct. — KUNA
When I returned home, I almost forgot that camera, ‘Toy camera’ captures because I retired from military service. I studied and even- tually got a doctorate and an executive job. I remembered those photos when I met Saad in Australia. I searched for historic events of them among my things and I found them,” he recalled. Marsden was in his early 20s during the war. He came 1990-1991 Gulf War back on Thursday to Kuwait after 27 years. “What nostal- gic moments when I see Kuwait now! The picture of Kuwait stuck in my head during 1991 was only of ruins and By Ben Garcia devastation brought by war. Now I see Kuwait as a very amazing place, and to come back here as a professional KUWAIT: The Memorial Museum at Al-Shaheed Park is photographer is very emotional,” he said. displaying photographs by Greg Marsden taken during the Sarrah said Marsden’s photographs are memories of 1990-1991 Gulf War. Marsden, a former US military man war and it is worth the time checking them out and who also served as a temporary policeman during the remembering the past. “When I met Marsden, I was transition period, used his ‘toy camera’ to capture historic amazed because he was narrating some of his experiences events of that time. “I was not expecting these photo- during his service in Kuwait. Then he told me about the graphs to end up here at the exhibition hall of the memori- photos. Of course, I told him to exhibit his photos in al museum. These photographs were kept in my house for Kuwait because we all deserve to see those pictures. He many years, until I meet a guy from Kuwait recently,” he agreed, and there you go. They will be displayed only for said. “I was just assisting a friend at a Sydney photo two days and some of them will be donated to the museum exhibit when I met Saad Al-Sarrah, a young Kuwaiti who and others probably will be sold,” said Sarrah, who served encouraged me to display my photos in Kuwait. I had as the event organizer. casually told him about my war photographs. They were Sarrah was only five years of age during the Gulf War. not even displayed in that expo. But I agreed to the idea to An event planner at Al-Shaheed Park Museums said she display my photos because I haven’t returned to Kuwait was approached by Sarrah about the photo exhibit. “It was since I returned to America, and later settled in Australia really timely and appropriate because the photos were because I married an Australian,” Marsden said. about the war and we have a memorial museum dedicated He said the old photos were kept for many years in his for Gulf War POWs and heroes of war. The photos are all cabinet. “The camera I had used was almost a toy camera. captured during those times, so we told him to display I had received it along with a bunch of letters sent to us by them at the memorial,” she said. Marsden considers him- KUWAIT: Greg Marsden speaks to visitors of his photo schoolchildren from my state in the US. They were encour- self as professional photographer and has a street photog- gallery at the Memorial Museum in Al-Shaheed Park. aged by the government to send letters of support and raphy workshop scheduled in Kuwait on Nov16-17, before — Photos by Ben Garcia care packages to our soldiers, so I got that ‘toy camera’. returning to Australia.
Council didn’t request hiring expat advisors
By Meshaal Al-Enezi
KUWAIT: Chairman of the Municipal Council Osama Al- Otaibi denied reports that the council asked the Civil Service Commission to appoint eight expat advisors at the commis- sion. He said the commission’s request was for two Kuwaiti advisors, one with a PhD in law and the other with a PhD in media with experience, to help the council with the media. He said there are six secretaries and typists for council mem- bers who are expats because Kuwaiti youth do not accept “service help” contracts because of the low salaries.
Kuwait book fair slated for today
KUWAIT: Kuwait International Book Fair, due to open today and held under His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah’s patronage, is one of specialized cultural events in the region and Arab world, a Kuwaiti official said. The book fair, to be opened by Minister of Information Mohammad Al-Jabri, features around 505 publishers, 35 government departments, nine organiztaions and 12 reading clubs, said Saad Al-Enezi, Director of the book fair. He added that the book fair, due until November 24, would be an opportunity for writers, intellectuals and cultural officials to meet under one roof. Enezi said book fair, which would include many events, would create an atmosphere of literature, culture and knowledge between publishers and readers, as well as advancing book industry to ultimately impacted tourism with hotels receiving more than 900 guests. —KUNA InternationalEstablished 1961 WEDNESDAY, NOVEMBER 14, 2018 Democrats gain US Senate seat; Republican concedes Shrinking Sea of Galilee has some hoping for miracle Page 8 Page 9
Combo picture shows (left to right) a photo of Mohammed Hamroush, a 29-year-old member of the Syrian civil defense holding his smartphone as he poses for a picture in front of damaged buildings; Josael Romero, a Salvadorian mem- ber of Pueblo Sin Fronteras, standing for a portrait with his cellphone and solar panel charger; Italian cattle breeder Pier Domenico Dotta posing with his smartphone; Cesar Olmos, a 47- year-old house painter; Aicha Younoussa posing with a smartphone; Iraqi Shiite Muslim cleric Sayed Mohammed Al-Talqani; Dina Rasolofo in Antananarivo; Live streamer Qiao Xi, 21 posing for a photo with her smartphone at her agency studio Redu Media in Beijing and Guatemalan migrant, Maria Pineda, 18, heading in a caravan to the US. -— AFP Smartphones: A double-edged sword A powerful weapon for terrorists
PARIS: Bombs and guns aside, a smart- SMS as American convoys drove past. This puters,” said Laurent Heslault, director of can be looked up at any time.” For propa- precedent. Further afield, governments have phone can be a powerful weapon in the caught on and was then repeatedly used by security strategies at Symantec, a security ganda-makers, videos of attacks can be used phone data extensively to pinpoint hands of a terrorist-but it can also provide Al-Qaeda,” the ex-official told AFP. These group. “They are far more powerful than filmed and uploaded in the blink of an eye. extremist suspects. The French military inter- intelligence services with the tools to track days, encrypted what we had “You can film attacks, claim responsibility, vention in Mali, launched in 2013 after them down. Three years ago to the day, the apps such as on our desks use (a phone) to take photos and film recon- jihadists took over the northern half the Paris attacks of November 13, 2015 remain Telegram, Wire 10 years ago,” naissance operations,” the ex-official said. country, started with air strikes whose tar- one of the best known examples of a large- and WhatsApp can he added. gets were chosen based on phone data, the scale assault that could not have been help jihadists com- “They have Flip side of the phone former French official said. planned without phones. municate while more comput- But the smartphone can be an extremist’s “Today all air strikes focus on tele- The Islamic State group gunmen and evading police Phones are no ing power, downfall as well as their best asset. phones,” he added. “Even if you keep chang- bombers who struck the Bataclan concert tracking-or at least more memory Intelligence agencies have grown better at ing the SIM card the phone has its own iden- hall and other nightlife spots used them complicate efforts longer phones and connec- using phones to identify suspects, spy on tity and once detected can continue being extensively to coordinate the carnage, said a to decode their tion capabili- them-and, in case of capture, lift data for use tracked.” And when it comes to police investi- former French anti-terrorist official, speaking messages. For sev- ties. They are as evidence in court. That in turn has raised gations, smartphones sometimes provide on condition of anonymity. Just before enter- eral years IS has very powerful difficult questions for tech giants who prom- more information than their owners. They ing the Bataclan, where they massacred 90 published online tools when it ise their users privacy. Most famously, Apple might allow investigators to work their way people, the attackers had sent a text mes- tutorials in several comes to faced a court showdown with the FBI after back along an information trail, snare other sage to accomplices in Belgium: “We’re languages explaining to jihadists how to communicating.” That has also made it much agents sought access to the data of the members of a suspect’s network, and track going ahead. It’s started.” But if smartphones choose the best software to evade detection easier for jihadist groups to recruit new attackers who killed 14 people in San sleeper cells, he added. “Smartphones make have been a “game-changer” for jihadists, in war zones. members. Smartphones “enable people to Bernardino, California, in December 2015. you a target,” the expert said. “Because of this their use by the world’s extremists goes For new recruits in developing countries, reach out for propaganda” with the swipe of Investigators dropped the case after find- jihadist leaders have learned to keep away much further back than the Paris attacks. where smartphones are more common than a screen, said the retired official. “Thirty ing a way into the phone without help from from them. For the past few years, there’s “As of 2003, in Iraq, home-made bombs computers, there are different strategies still. years ago, guys used to exchange video cas- Apple, which argued that helping authorities been a marked return to using human started being set off by the sending of an “Phones are no longer phones-they’re com- settes, then it was CDs. Now it’s online and access a phone would set a dangerous envoys,” he added. — AFP
A global revolution to teens in previous generations. time is so fundamental for mental health. We Smartphones are So iGen’s probably the safest generation in know, from decades of research, that getting PARIS: At the sharp end of conflict in Syria, in a schoolchild’s bag in history and they like that idea of feeling safe. Yet, enough sleep and seeing friends in person is a Kenya, whether fighting deadly diseases or studying forestry, the they also have the sense that they are missing good recipe for mental health and that staring at smartphone has become ubiquitous in just over a decade. This year, the raising mentally out on something. They realize that being on the a screen for many hours a day is not. number of users is expected to pass three billion, and AFP photogra- phone all the time is probably not the best way phers have sampled how the phones have become a mainstay of lives to live. They don’t like it when they’re talking to a QUESTION: What advice would you give around the world for people who cannot live without them. Take Moris fragile generation Atwine, 25. The Ugandan entrepreneur helped to develop a mobile app friend and their friend is looking at their phone. to parents? to aid in the diagnosis of malaria, a worldwide killer, without the need Many of them have a recognition of the down- ANSWER: Many of the things on which hap- for a blood sample, and transmit the result in seconds. SAN DIEGO: San Diego State University psy- sides of that type of living as well. piness and mental health depend are now under Qiao Xi, 21, describes her smartphone as her “boyfriend”. From an chology professor Jean Twenge sees smart- our control. We cannot change the genes we all-blue studio, the Beijing-based vlogger live-streams songs, dance phones and social media as raising an unhappy, QUESTION: You have researched the were born with and we are not going to solve moves and observations about her daily life to some 600,000 followers compliant “iGen.” behavior and health of millions of teenagers. poverty overnight, but we can control how we on the Huoshan channel. From the frivolous to the deadly serious, What have you observed? spend our leisure time and we can help our chil- Mohammed Hamroush is a member of the “White Helmets” group, QUESTION: What is the iGen? ANSWER: Around 2011 and 2012, I started dren do the same. The research points toward which rushes to help the wounded in rebel-held parts of Syria. ANSWER: The iGen is the generation born to see more sudden changes to teens, like big limiting digital media use to about two hours a Hamroush’s smartphone helps the volunteer to track bombardments, in 1995 and later, and they’re the first generation increases of teens feeling lonely or left out, or day or less. That seems to be the sweet spot for get to where help is needed, and allows his worried wife to know he’s to spend their entire adolescence in the age of that they could not do anything right, that their mental health and happiness. So sure, use social safe. Inna Salminen works in far calmer conditions, using her smart- the smartphone. They spend a lot more time life was not useful, which are classic symptoms media to stay in touch with friends, help plan phone to survey the forests of Finland, but knows too that the device online, on social media and playing games, and of depression. Depressive symptoms have things, and watch a little bit of video but keep it can be a lifesaver if she gets lost in a remote area. The 27-year-old they spend less time on non-screen activities like climbed 60 percent in just five years, with rates under that two-hour limit for 13- to 18-year-olds. conservation expert speaks for a whole generation when she describes reading books, sleeping or seeing their friends in of self-harm like cutting (themselves) that have Then you get all the benefits of social media and only having a “hazy memory” of life before smartphones. Aged 13, face-to-face interactions. Those children are doubled or even tripled in girls. Teen suicide has this technology without the big downside of it. If Imelda Mumbi has no such memory at all. The Kenyan schoolgirl uses growing up more slowly. By the age of 18, they doubled in a few years. you feel your child needs a phone, say for getting her smartphone for fun, of course, but also to help her studies. Imelda are less likely to have a driver’s license, to work Right at the time when smartphones became back and forth to school, you can get them a counts on Eneza, an interactive educational app which has about three in a paying job, to go out on dates, to drink alco- common, those mental health issues started to “dumb” phone that does not have internet and all million users worldwide, plugging her corner of Africa into a global hol or to go out without their parents compared show up. That change in how teens spend their the temptations of a smartphone. —AFP network that has grown from nothing in a few short years. — AFP BELGIUM KING’S DAY
Words by H.E. Ambassador Piet Heirbaut
Dear Readers, In September of this year we had the pleasure of welcoming many of you on the occasion of the want to thank the Kuwait Times for giving me Belgian week, which included a food festival, a the opportunity, on the occasion of King’s Day, musical concert and an exhibition on the Smurfs. Ito present my country to you. The celebration of King’s Day is the perfect In 2017 and 2018 we witnessed a further occasion to bring our countries and people even strengthening of the bilateral relations between our closer together and I am looking forward to contin- two countries. ue working with you in the next coming years. In 2018 Belgium was elected as a non-perma- nent member of the United Nations Security Yours truly, Council for the period 2019-2020. My country is looking forward to the close cooperation with Piet Heirbaut Kuwait in the Security Council in 2019. Both our Ambassador of the Kingdom of Belgium to the countries are staunch supporters of multilateral State of Kuwait. diplomacy and international dialogue. 2018 was also the year of a very successful Instagram : belgiuminkuwait world cup for the Belgian National Football team. Facebook : #BelgianEmbassyKuwait The red devils took the Bronze Medal in Russia and Website : kuwait.diplomatie.belgium.be/en I met many enthusiastic Kuwaiti supporters of the Belgian team during the summer time.
Belgium – Your partner in the center of the European Union
A Major logistics hub has made Belgium the second-biggest exporter and the third biggest producer of medicines and vaccines in the Thanks to its location in the throbbing heart of Western European Union. Looking back over the last fifty years, Europe, Belgium offers easy access to millions upon millions Belgium has also been at the forefront when it comes to of consumers. As a result, many international companies developing and applying information technologies and the have chosen Belgium as their bridgehead for continental Internet and promoting the digital revolution. Europe and have benefited from two added assets, the country’s excellent infrastructures and the high quality of its A high level education system workforce. According to recent education reports of the Organisation for Economic Cooperation and Development Innovation, the Key of the success of the Belgian (OECD), Belgium has the third best education system Economy amongst the 35 OECD countries. Thanks to outstanding Since the days of the industrial revolution, in which teachers and a flexible education system, our country has Belgium played a pioneering role, the country has never scored considerably better than the world average. ceased to innovate. Indeed innovation is the key to This is also reflected in the performance of Belgian uni- Belgium’s future economic success in the traditional indus- versities at the global level. Five Belgian Universities ranked trial sectors and in the new high tech industries. Belgium in the top 250 in the World University Ranking 2018. was in the top 3 of the “Innovation Indicator” – an innova- tion ranking of 35 countries. The list is based on a study conducted by the German Fraunhofer Institute for Systems and Innovation Research (ISI) and the Center for European Economic Research (ZEW). Universities are without a doubt the main catalysts of fundamental and applied research in Belgium. For one thing, universities have a number of technology transfer offices (TTO’s) which are responsible for completing the delicate transition of a given project from the laboratory to a start- up company. Every year Belgian universities are instrumen- With thanks to SEEDIS General Trading and Contracting tal in setting up dozens of spin-offs, some of which go on to that has been Automatic Systems agent for more than 10 become big players in the global economy. years and have installed security and movement control A showcase of Belgian Know-How is biopharma: around systems in Kuwait at Seif Palace, the United Nations House, 4200 researchers work in the R&D laboratories of the Bayan Palace, The Arab Fund for Economic Development, Belgian Pharmaceutical industry. The companies and their Kuwait Finance House, American University of the Middle employees benefit from a unique business environment that East (AUM), KNPC, etc… 8 Wednesday, November 14, 2018 International Every breath you take: India capital’s smog leaves children gasping for air Delhi’s well-off find ways to keep their kids away from smog
NEW DELHI: Deepa Tampi worries a lot about the air lion, many of whom are worried about where the next eases,” said Arvind Kumar, a leading chest surgeon in her two children breathe. The garment exporter says day’s work or the next meal is coming from. Ravi New Delhi, and the co-founder of the Lung Care she believes her 14-year-old daughter Mahika and 12- Shankar Shukla, 35, who is employed as a chauffeur, Foundation. year-old son Vihaan both became asthmatic because of says his 8-year-old son, who attends a government The foundation runs Breathe Easy Stay Tough high levels of pollution in the New Delhi area. She has school in Noida, complains that his eyes smart and his (BEST) clubs in more than 30 schools across Delhi to banned them from playing outdoors, and has even nose gets blocked when pollution sets in, though he train students and teachers to build awareness about air moved their schools twice in four years so that they can never wears a mask. pollution, its causes and impact, and to provide tips on use indoor sports facilities. When there is a toxic haze Rajesh Kumar, 37, who works as a contract employee how to deal with asthma. Kumar says he hears from covering the Indian capital - as has been the case in with a catering firm, said his two children develop a principals that most children have some kind of persist- recent days - she makes sure air purifiers are running at cough from around mid-October, when the pollution ent cough these days. “Cough is the first symptom of home and in the car, and when the kids do go outside levels rise, until the air quality improves in January. “We irritation of your breathing tract. When it becomes more they wear masks. run up medical bills during this season,” said Kumar, severe, then you start developing narrowing, which “Every year, we gasp through the winter months, who has a 12-year-old son and a 9-year-old daughter. manifests as breathlessness and then you need a nebu- armed with oral steroids, inhalers and nebulisers,” she “The school has given masks, but generally kids don’t liser,” Kumar said. The federal government launched an said. “I have robbed my children of a very simple pleas- like wearing them as they feel constricted. Besides, they asthma manual for schools in 11 languages last month ure in life - being outdoors. Mahika was an athlete and also fear being ridiculed.” Doctors say that many thou- after several incidents, including deaths, blamed on a Vihaan loved playing football, but to protect their sands of children are becoming victims of respiratory lack of awareness of the illness. health, they had to trade these for indoor activities like illnesses in Delhi and its suburbs. More than 10 percent Mala Kapoor, founder and principal of Silver Line table tennis and dance.” The family paediatrician has of India’s schoolchildren suffer from asthma, according Prestige School in Ghaziabad, on the eastern side of suggested they leave the Delhi area because of the kids’ to the federal government. Delhi’s national capital region, said roughly 10 percent asthma, Tampi said, and in the past they have even con- Pollution levels in the city rose to “severe” last of her students suffered breathing problems during the sidered emigrating. But a big change like that is not Thursday, a day after revelers let off fireworks long into winter months. The 3,000-pupil school, established in easy when she is running a business and her husband is the night to mark the Hindu festival of Diwali. Two fed- 1989, jostles for air amidst smoke-spewing small-to- a partner at a law firm. eral government pollution indexes showed air at “very medium-sized factories, new high-rise residential build- poor” and “severe” levels, indicating that prolonged ings, a busy flyover and a rail track. Medical bills exposure could lead to respiratory illnesses. North Kapoor said occasionally students have to be rushed Tampi, who lives in Noda on the outskirts of the city, Indian cities, including Delhi, top a list of places with to a nearby hospital if they are having major breathing is in a small minority. She has the knowledge and, more the worst air in the world, the World Health problems. “This is an example of bad planning,” Kapoor importantly, the money, to reduce the impact of the tox- Organization said earlier this year. “I am aware of pae- said, noting that the school was built before the facto- NEW DELHI: Commuters travel along a highway amidst heavy ic cocktail of pollution on her kids. That is not the case diatricians in my hospital doubling or trebling the num- ries. “I didn’t land up in the mess, but the mess was cre- smog on Monday. — AFP for most of New Delhi’s population of more than 20 mil- ber of the kids they are seeing with respiratory dis- ated around me.” — Reuters
be devastating for single women, who are often shunned by Stigma, separation: family and community, with little chance of support from the father. “In most communities, pregnant adolescent girls are told to drop out of school,” says Yadanar, a youth program British PM faces The painful choice analyst at the UN Population Fund (UNFPA) who goes by one name. Family planning clinics are few-particularly in facing Myanmar’s rural areas-or extremely limited in what they can offer. “The cabinet as Brexit services need to be more welcoming to the youth, without single mothers any judgment, without stigma, without discrimination, keep- deadline looms ing their confidentiality,” Yadanar says.
LONDON: Prime Minister Theresa May yesterday THANLYIN: Eight months pregnant, shamed by her family Glimmers of hope faced her divided ministers as negotiators scram- and shunned by the father of her child, Aye Mar has One in six women do not have access to the contracep- bled to secure a divorce agreement with the accepted she will have to give up her baby to an orphan- tion they want, according to UNFPA. Although sex educa- European Union and anxiety mounted over the age in Myanmar, a country where single mothers are tion is on the school curriculum teachers often ignore it, risk of a no-deal Brexit. May said Monday her ostracized and deemed a “disgrace”. For now, she is taking while many parents avoid ‘The Talk’ either out of embar- government was working “extremely hard” to save refuge in a house in a leafy suburban Yangon street, away rassment or a hope that silence offers protection. A group a deal, telling officials of London’s financial district from the disparaging eyes of her neighbours and the chas- of tech entrepreneurs are hoping an app for young women, that negotiations “are now in the endgame”. tisement of her aunts, her only family. Her aunts were “furi- brimming with beauty tips, fashion-and information about A British government source said a deal must ous” when the 19-year-old told them she had fallen in love YANGON: An unmarried woman seeking refuge at the Myint reproductive health-might help educate and break down happen today if there is any hope of an extraordi- with the water delivery boy and become pregnant. “They Mo Myittar Single Mothers’ Foundation in Yangon prepares stigma in the country, where smartphone penetration was nary EU summit this month to sign a withdrawal brought my boyfriend home and asked him to marry me. her baby before handing the baby over to a government at 80 percent last year. agreement. May’s de facto deputy David He said he would but then he ran off,” she told AFP. orphanage. — AFP The prototype of “Pyo Pyo May”, meaning “young Lidington told BBC Radio’s Today program yester- Her aunts ordered Aye Mar (not her real name) to give lady”, was well received during a trial last month in a day that a deal was “not quite there yet” but was up the baby and brought her to the Myint Mo Myittar ple in the same situation as them and they start feeling Yangon park. “I just get sex education from Facebook,” within “touching distance”. Agreement was still to Single Mothers’ Foundation, where she will give birth. “I better about themselves,” she explains. Those who do said 30-year-old Thazin Oo, too embarrassed to elaborate be reached on a “small number of difficult issues”, want to take care of my baby but it is impossible,” she relinquish their babies are usually forced to do so by their any further. There are some signs that attitudes in he added, saying a deal before today was “still said. She is one of more than 100 girls and women to pass parents or other family members. Myanmar are slowly changing. Pop star Athen Cho Swe chose to go public this year after secretly giving birth as a possible, but not at all definite”. through the doors of the centre, which provides a home for Illegal abortions single mother in Bangkok. May addressed City of London leaders on those in the last few months of their pregnancy and for 45 With only a handful of such organizations across She now posts updates for her fans, including a recent, Monday, saying her negotiators were working days after giving birth. One expectant mother is a 12-year- Myanmar, many girls and women opt for illegal abortions. self-filmed video of her playing with her baby girl. “I “through the night” to make progress on the old rape victim, now six months pregnant. Radiologist Myat Sandar Thant set up the foundation two years ago, In the country of some 50 million, women’s rights group thought people would criticize me,” she told local media in remaining issues. “I will not compromise on what IPAS estimates that 246,000 unsafe abortions are under- August. “But people love my daughter.” Prospects are less people voted for in the referendum. This will not appalled by the suicide of a patient who could not face the shame of pregnancy. taken every year. Myanmar has the second-highest mater- rosy for babies born into poorer households. Doctor Myat be an agreement at any cost,” she added. But pro- Most women arrive intent on leaving their babies for nal death rate in the region. There are no official statistics Sandar Thant has the grim task of handing over unwanted Brexit ministers in the cabinet are worried that her to hand over to the state-run orphanage system. But on the number of unmarried mothers in a country where babies born in her centre to a government-run Yangon May is set to agree to the EU’s demands over the the majority end up taking their children home, small vic- data records are patchy and delicate social issues are orphanage. Myanmar’s strict adoption regulations mean key sticking point of the Irish border. tories in the battle against conservative values, which often swept under the carpet. most infants here will spend their whole childhood in state place the weight of responsibility for unwanted pregnan- But 2014 census data suggests almost 50,000 15-19 care. “This is the best that is available in Myanmar,” she ‘Completely unacceptable’ cies on women. “When they get here, they see other peo- year-olds give birth each year. An unplanned pregnancy can says. “But the children lose their sparkling eyes.” — AFP At issue is how to avoid border checks between British Northern Ireland and EU member the Republic of Ireland after Brexit enters into force from March 29. London suggests Britain could temporarily stay aligned with the bloc’s trade rules Shrinking Sea of but wants to reserve the right to exit the arrange- ment. The EU appears only ready to accept that if Galilee has some there is a fallback option written into the with- drawal agreement in which Northern Ireland would remain in the European single market while hoping for miracle the rest of Britain leaves. Ministers are set to confront May during a EIN GEV: It was not so long ago when swimmers at Ein meeting, warning that the EU’s demands were Gev would lay out their towels in the grass at the edge of “completely unacceptable”, according to the Daily the Sea of Galilee. Today, they put up their parasols 100 Telegraph. Former Brexit minister David Davis, metres further down, on a sandy beach that has appeared now a strident critic of May’s strategy, warned due to the shrinking of the iconic body of water. “Every that the government “should be prepared to exit time we come we feel an ache in our hearts,” said Yael without a deal”. Failure to strike a deal by today Lichi, 47, who has been visiting the famous lake with her could push back the signing of any agreement family for 15 years. “The lake is a symbol in Israel. until a regular EU summit on December 13, dra- Whenever there is a drought, it is the first thing we talk matically curtailing the time May will have to get about.” In front of Lichi, wooden boats with Christian pil- the deal past a rebellious British parliament before grims aboard navigate the calm waters, among groups Brexit day on March 29. from across the world that visit. In parliament, May will have to satisfy both The Sea of Galilee, where Christians believe Jesus EIN GEV: A Fisherman returns to the port of Kibbutz Ein-Gev, on the shores of the Sea of Galilee. The Sea of pro-Brexit and anti-Brexit wings of her party, as walked on water, has been shrinking for years, mainly due Galilee, where Christians believe Jesus walked on water, has been shrinking for years, mainly due to overuse, well as Northern Ireland’s DUP party that props to overuse, and environmentalists are raising the alarm. and environmentalists are raising the alarm. — AFP up her government. As a sign of the battles ahead, Plans are being devised to resuscitate the freshwater body eurosceptics within her party are demanding in known to Israelis as the Kinneret and to some as Lake parliament that she lays out “the government’s Tiberias. For Israel, the lake is vital, having long been the overuse. The Galilee covers some 160 square kilometers not have access to desalinated water, said Orit Skutelsky, political and legal position” on the various Brexit country’s main source of water. Israeli newspaper Haaretz (60 square miles), roughly the size of Liechtenstein. of the Society for the Protection of Nature in Israel. scenarios. Labor is expected to go a step further provides its water level daily on its back page. Its shrink- At the water ministry, blame for its condition is placed Farmers in the region rely on rivers that provide 90 and demand the publication of the full legal advice ing has been a source of deep concern. When two islands on five years of drought. But “climatic factors alone are percent of the lake’s input. Dozens of pumps remove near- given to the government by attorney general appeared recently due to falling water levels, it received inadequate to explain the record shrinkage of the Sea of ly 100 million cubic meters each year from those sources, Geoffrey Cox. The deal is meant to finalize widespread attention in the Israeli media. Galilee,” wrote Michael Wine, Alon Rimmer and Jonathan whose flow has decreased and is no longer enough to sup- Britain’s exit bill of around £39 billion (45 billion Since 2013 “we are below the low red line” beyond Laronne, researchers at Israel’s Ben Gurion University. ply the lake, says the researcher. Several kilometers from Irrigated agriculture, pumping and diversions are the the beaches at Ein Gev, at the foot of rocky hills, immense euros, $50 billion). which “salinity rises, fish have difficulty surviving and veg- main culprits, they say in an analysis. Israel constructed a nets cover banana trees whose leaves wilt with the sur- It must also guarantee citizens’ rights and etation is affected,” said Amir Givati, hydrologist at Israel’s national aqueduct in the 1950s in the years after the rounding dry vegetation. “We call it the valley of bananas,” launch a 21-month transition during which London water authority. The level is only around 20 centimetres country’s birth, when it was on a quest for nation-build- said Meir Barkan, tourism director for the Ein Gev resort. would follow EU rules. British and European nego- (less than eight inches) above the record low plumbed in 2001 - except, at that time, 400 million cubic meters (14.1 ing and sought to “make the desert bloom”, as its early “When they began planting trees, there was no water tiators will launch more ambitious talks during this billion cubic feet) a year were pumped out for irrigation. pioneers put it. problem and the banana is the only fruit that you harvest transition period on a future trading and legal “This year, we only pumped 20 million cubic meters, but The aqueduct carried water from the lake towards the year-round.” relationship. Britain will be forced to ramp up its the lake is in a very bad state,” said Givati. Added to that is rest of the country. “Lake Tiberias was used as a national But without desalinated or recycled water, the farms plans for a no-deal Brexit if a deal is not struck the 50 million cubic meters Israel sends to neighboring reservoir,” said Julie Trottier, a professor who specialises are a main player in the “competition for resources this week. Amid the uncertainty, EU nationals Jordan as part of peace agreements. in Israeli-Palestinian water issues. A man-made canal sup- between nature, agriculture and tourism,” said Eran appear to be voting with their feet. Official figures plied water to the west towards the Mediterranean coast Feitelson, geography professor at Jerusalem’s Hebrew released yesterday revealed that the number of EU ‘Valley of bananas’ and into the Negev desert in the south, she said. That sys- University. For Lior Avichai, agronomist at the Zemach nationals working in Britain fell by 132,000 to 2.25 Its unique characteristics go beyond its religious signif- tem has not been in place for some 10 years. Now, most Nisyonot research centre, the solution is not to “kill agri- million, the largest annual fall since comparable icance. It is 200 metres (650 feet) below sea level, located homes in the west of the country use desalinated water culture and the local economy,” but to use less water. records began in 1997. — AFP north of the Dead Sea, the River Jordan between them. from the Mediterranean, while farms are irrigated with Authorities propose providing the region with desalinated Both the Dead Sea and the Jordan have also suffered from water that is treated and recycled. But eastern Israel does water via the aqueduct. — AFP Established 1961 9 International Wednesday, November 14, 2018 Myanmar defiant as Amnesty pulls Aung San Suu Kyi award
The latest in a string of rescinded accolades
YANGON: Myanmar authorities and citi- ient of the Ambassador of Conscience immigrants from Bangladesh. zens leapt to the defense of Aung San Suu award and so with great sadness we are Deputy Minister for Information Aung Kyi yesterday after Amnesty International hereby withdrawing it from you.” Hla Tun told AFP he was personally sad and stripped her of its top award over indiffer- But domestically, Suu Kyi remains popu- disappointed by Amnesty’s announcement ence to atrocities committed against lar across vast swathes of Myanmar and and said Suu Kyi was being treated “unfair- Rohingya Muslims, doubling down on sup- within her party, the National League for ly”. Such moves would only “make the peo- port for the civilian leader in the face of Democracy, which won elections in 2015 ple love her more”, he added. People on the global ire. Suu Kyi’s international reputation ending decades of military-backed rule. The street in Yangon were defiant. “Their with- as a rights icon is in pieces and Amnesty’s stripping of awards not only harms the drawal is pretty childish. It’s like when chil- move is the latest in a string of rescind- dren aren’t getting along with each oth- ed accolades. er and take back their toys,” 50-year- Canada revoked her honorary citi- old Khin Maung Aye said. “We don’t zenship last month and the US need their prize,” said Htay Htay, 60. Holocaust Museum in March took back More than 720,000 Rohingya were an award named after concentration We don’t driven over the border to Bangladesh camp survivor Elie Wiesel. Institutions in a crackdown that started in August that once showered Suu Kyi with titles need their 2017, and refugees have detailed hor- are rapidly distancing themselves from a rific testimony of murder, rape, torture leader they argue is doing little in the prize and arson. The military says it was face of alleged genocide and ethnic defending itself against Rohingya mili- cleansing against its Rohingya minority. tants. UN investigators have called for YANGON: File photo shows Myanmar State Counsellor Aung San Suu Kyi paying Amnesty’s “Ambassador of top generals to be prosecuted for respects to her late father during a ceremony marking the 71st anniversary of Conscience Award” was bestowed in genocide and accused Suu Kyi’s gov- Martyrs’ Day in Yangon. — AFP 2009 and other recipients include Nelson “dignity” of Suu Kyi, but also that of all ernment of complicity, though has Mandela, Malala Yousafzai and Ai Wei Wei. NLD members, the party’s spokesman Myo stopped short of calling for her to be “Today, we are profoundly dismayed that Nyunt told AFP, adding he thought this was hauled before a court. Suu Kyi became a decision herself but has in the past cause celebre for the rights group during you no longer represent a symbol of hope, all part of a wider conspiracy. “All these democracy icon after spearheading the shrugged off questions about withdrawn her house arrest. “This is effectively an courage, and the undying defense of human organizations are working for the Bengalis opposition movement to the feared mili- awards. Calls to revoke Suu Kyi’s 1991 excommunication of Suu Kyi from the pan- rights,” Amnesty International chief Kumi who have left the country in order to get tary junta, which resulted in her spending Nobel Peace Prize have been rebuffed by theon of human rights champions,” Yangon- Naidoo said in a letter to Suu Kyi released citizenship,” he said, using a pejorative term some 15 years under house arrest before the committee that oversees it. Some think, based independent analyst David by the group. “Amnesty International can- for the Rohingya that is widely accepted in her release in 2010. however, that Amnesty’s move will be taken Mathieson said, adding that the decision not justify your continued status as a recip- Myanmar and falsely implies they are illegal She has yet to comment on Amnesty’s more personally because she became a would “sting”. —AFP
Representatives in the midterms, have now and his policies during her Senate race, and Democrats flip flipped two Senate seats: Arizona and Sinema appeared to call out Trump’s Nevada. Republicans gained Senate seats in scorched earth tactics in her remarks, as she Indiana, Missouri and North Dakota. The vic- called for healing after the tense midterm Senate seat in tory by Sinema, an Arizona congresswoman, elections. Europe, then channeled to Lebanon will provide Democrats a critical extra vote in ‘Lebanese before being transferred to Colombian Arizona; Sinema the 100-member chamber, which Republicans ‘Compromise instead of division’ traffickers. The funds were moved using will still control when the dust settles from last “Arizona rejected what has become far a centuries-old system of payment dat- week’s closely-watched midterm elections. too common in our country: name-calling, Connection’ ing from the spice trade called bests McSally With almost all ballots counted from the petty personal attacks, and doing and saying “hawala”, passing through a tested net- November 6 election, Sinema had expanded whatever it takes just to get elected,” trial opens work requiring ironclad trust. Hawala her lead each of the last four days. On Sinema said. “It’s dangerous, and it lessens operators also offer the advantage of WASHINGTON: Arizona Republican Monday evening Sinema was ahead by who we are as a country. But Arizona proved PARIS: Fifteen alleged members of a leaving no trace of the transactions. Martha McSally conceded her razor-thin US 38,197 votes, or 1.72 percentage points. that there is a better way forward,” she vast crime ring accused of laundering A few months after Noureddine’s Senate race Monday, providing Democrats Trump weighed in on the Arizona race after added. “We can work with people who are Colombian drug money through luxury arrest US police detained the suspect- with a key pickup in a state that has not the election, crying foul when authorities took different than us, we can be friends with jewelry and using shadowy middlemen ed head of the network, Mohamad elected a member of the party to the Senate days to count ballots and used a procedure people who are different than us, we can from the Lebanese diaspora went on Ammar, in Florida on charges that he in three decades. “I just called Kyrsten that allowed voters to confirm their signa- love and care about people who are differ- trial in Paris yesterday. The chief defen- illegally moved hundreds of thousands Sinema and congratulated her on becoming tures in cases where there were discrepan- ent than us.” Sinema also paid tribute to dant is Mohamad Noureddine, a 44- of dollars into Miami banks. Ammar, Arizona’s first female senator after a hard- cies. “Just out-in Arizona, SIGNATURES Arizona native son John McCain, the senator year-old Lebanese businessman with who regularly shuttled between fought battle,” McSally said in a video state- DON’T MATCH. Electoral corruption,” and 2008 Republican presidential nominee interests in real estate and jewelry. He California and Colombia’s second city ment posted on her Twitter account. Trump said on Twitter, citing no proof of who emerged as a key Trump critic and who was arrested in France in January 2016 Medellin, has since admitted his ties to “I wish her all success as she represents wrongdoing. died of cancer earlier this year. during police raids that also took place Colombian drug cartels, prosecutors Arizona in the Senate.” US networks Fox “Senator McCain is irreplaceable, but his in Italy, Belgium and Germany, after an say. Investigators in the “Lebanese and CNN called the race in Sinema’s favor. “Call for a new Election? example will guide our next steps forward,” alert from the US Drug Enforcement Connection” inquiry, also dubbed the She will replace outgoing Senator Jeff We must protect our Democracy!” Flake she said. “He taught us to always assume the Agency. US officials, who have imposed “Cedar Affair” after Lebanon’s national Flake, a conservative Republican who is a has repeatedly stated there has been “no best in others, to seek compromise instead sanctions on Noureddine over his sup- tree, suspect a main client was a critic of President Donald Trump. Arizona is evidence” of voter fraud, and offered warm, of division, and to always put country ahead posed links to Lebanon’s Hezbollah mil- Colombian drug king known as El a border state with increasing numbers of cross-party congratulations to Sinema on of party.” Sinema’s race was one of three itant group, suspect the network of Chapulin who shipped large quantities Latino immigrants. The issue is front and her victory. “It’s been a wonderful honor undecided Senate battles. A fierce fight operating between South America, of cocaine to Europe. After the drugs center in statewide elections there, and representing Arizona in the Senate. You’ll be remains in Florida, where authorities are Europe and the Middle East since 2012. were sold, the network used hawala Trump has triggered a sense of nativism great,” he tweeted. Sinema, who at 42 will be conducting a recount in the race between They identified France, where sever- operatives to gather the proceeds, among his supporters. one of the Senate’s youngest members, Democratic Senator Bill Nelson and his al of the defendants reside, as being at employing well established techniques But Sinema sought to focus on kitchen- addressed cheering supporters in Phoenix, Republican challenger Rick Scott, who is the centre of the syndicate’s operations such as regularly changing mobile table issues like health care, and Democrats’ where she took a moment on Veterans Day Florida’s term-limited governor. Mississippi’s in Europe. The proceeds of cocaine phones, coded language and hiding push to preserve protections for people with to thank McSally-the country’s first female Senate race is headed to a run-off, which is sales were allegedly collected in money in cars. — AFP pre-existing conditions. Democrats, who fighter pilot to fly in combat-for her service expected to be won by Republican incum- reclaimed control of the House of to the nation. McSally had embraced Trump bent Cindy Hyde-Smith. —AFP 10
Wednesday, November 14, 2018 Analysis
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N Korea seen as reliant as ever on nuclear arsenal as talks stall
mid signs that negotiations between North Korea and the US are stalling, analysts say APyongyang still sees its nuclear arsenal as a key tool in securing its national safety and winning con- cessions from international rivals. Just as the United States has doubled down on its sanctions on Pyongyang, North Korean leader Kim Jong Un has not retreated from his pledge to expand his operational force of nuclear bombs and ballistic missiles, increas- ing his leverage under any still-elusive denucleariza- tion deal. A US think tank said on Monday it had identified at least 13 of an estimated 20 active, undeclared missile bases inside North Korea, underscoring the challenge for American negotiators hoping to per- suade Kim to give up his weapons programs. As time goes by, North Korea’s likely expansion of its arsenal could force Washington to rethink its insis- tence on full denuclearization, said Moon Hong-sik, Can Macron’s new forum make a difference? a research fellow at the Institute for National Security Strategy in Seoul. t was billed as a “Davos for democracy”. But will the citizen solidarity to fight against chronic malnutrition”. the wars underway worldwide, where the main interna- “This is the choice the United States has to make: newly launched Paris Peace Forum, the latest addition It gave the event an atmosphere that was somewhere tional powers are at loggerheads. “The difficult subjects - whether they keep pursuing the ideal of ‘complete, Ito international conferencing, have an impact? between a trade fair and a think-tank conference. “You Yemen, Syria, Libya, big overlooked humanitarian crises - verifiable, irreversible denuclearization,’ or take this Conceived by French leader Emmanuel Macron, the can count on my support,” Kenyan leader Uhuru are not on the agenda,” he said. dilemma into consideration and make a compromise Forum is intended to be part of the fight back against Kenyatta told the Kumekucha association, which works for limited denuclearization,” he said. US President nationalism, with its format inspired by the annual busi- to prevent violence in rural communities in Africa, as he Or oxygen? Donald Trump met Kim at an unprecedented sum- ness meeting in the Davos ski resort in Switzerland. The visited their stand on Sunday. So is the Peace Forum necessary and will it last? mit in Singapore in June where they agreed to event opened Sunday, with speeches by Macron, German Roberto Azevedo, the head of the World Trade “work toward complete denuclearization of the Chancellor Angela Merkel and UN chief Antonio Echo chamber? Organization, argued that the global system of internation- Korean Peninsula. Guterres who warned in turn about the dangers of Given the agenda, it’s little wonder that US President al organizations like his own, which help produce norms But with scant sign of progress on negotiations Trump-style populism. Donald Trump decided to snub the Forum after the memo- and rules, needed to be celebrated. The Paris Forum, which since and recent high-level meetings cancelled, Trump The idea is that the Paris event, which began symbol- rial service on the Champs-Elysees to mark 100 years seeks to highlight their work, could be part of the answer. said last week he’s now in “no rush” and still wants to ically on the centenary of the end of World War I, since the WWI Armistice on Sunday. A host of other lead- Multilateralism was like oxygen in the way that it was gen- meet with Kim for a second time. US officials have becomes an annual gathering to discuss democracy and ers, including Russian President Vladimir Putin, opted to erally overlooked, he argued during a panel discussion. said sanctions forced North Korea to the negotiating international cooperation. “We have put on leaders’ attend the opening session, but most of them left shortly “Take it away and you will start noticing immediately.” table and vowed to keep pressure until complete agenda the fact that every year, we will talk about mul- afterwards. An absence of nationalist viewpoints among The Forum’s ultimate fate might depend on the star- denuclearization. But North Korea has credited its tilateralism and our collective interests here,” chief the attendees meant most panel discussions subsequently power of its French patron, Macron, who reinforced his nuclear and missile breakthroughs for providing it the organizer Justin Vaisse told AFP. The remaining days - veered towards consensus - that multilateralism, coopera- reputation over the weekend as a counterforce to Trump- standing to meet the world’s largest powers. the Forum ran until yesterday - featured round-table tion and peace were desirable. like nationalism. “The old demons are rising again, ready to Kim’s own words suggest Pyongyang will contin- discussions on topics from gender inequality to the But Florent Geel, from the International Federation of complete their task of chaos and of death,” Macron said ue with production and development of the nuclear need for new global environmental accords. One hun- Human Rights (FIDH), argued that the Forum could devel- during the WWI remembrance service with Trump sitting program even as it negotiates with Washington on dred and twenty projects, most of them run by NGOs, op as an important place for networking among like-mind- on the front row. The problem, says Jeremy Shapiro from denuclearization, experts say. “In the 2018 New Year were given space in an exhibition area at the entrance ed people. “It makes sense to meet up, to discuss the chal- the European Council on Foreign Relations, is Macron’s address, Kim Jong Un called for shifting to full-scale to the former slaughterhouse where the Forum was held. lenges for the planet and connect worlds that don’t con- falling popularity at home and increasing isolation abroad. production and deployment of nuclear weapons and They included a project to provide Taekwondo lessons nect up very easily,” he told AFP. But he added that a “He doesn’t look quite as shiny and new as he did a year missiles,” said Joshua Pollack, a senior research to refugees. Another was based on “leveraging global peace forum should have allowed more space to discuss ago,” he said. — AFP associate at the US-based James Martin Center for Nonproliferation Studies (CNS). “He’s never said or done anything since then to contradict that.” North Korea has not tested a nuclear bomb or is unperturbed. “In the meetings we had rooms are cleaner than most medical corruption is my primary target now after ballistic missile since last year, and has said it has Iraq militia with our Iraqi brothers, they assured us facilities in Iraq. “At the end of the day we defeating Islamic State,” he said. shuttered its main nuclear test site with plans to dis- that Iraq could not be used by America,” must switch to politics to rebuild our “Corruption is a second Islamic State if not mantle several more facilities. North Korea recently said a former Iranian ambassador in the country. Rebuilding the country and worse.” That’s a view shared by others, warned, however, it could restart its nuclear pro- leaders plan to region, now a senior official in Tehran. maintaining its security could come only including Asaib ahl al-Haq, one of the mili- gram if the United States does not drop its cam- Among Iran’s Iraqi allies is the Badr through good politics,” said Fada’am. tias that is faced with possible US sanc- paign of “maximum pressure” and sanctions. call the shots Organization, which won 21 seats at the Another militiaman turned politician, tions. Asaib militiaman Saad Al-Husseini, election. For two decades, Badr’s leader Falih Khazali, fought on the side of from the town of Kut on the banks of the ‘North Korea never promised’ Hadi al-Amiri led the fight against President Bashar al-Assad in Syria’s civil Tigris river, has taken up a seat in parlia- Monday’s report by the Washington, DC-based n May, Hassan Fada’am traded his mil- Saddam Hussein from exile in Iran. A Badr war and lost an eye defending a Shiite ment. He handled logistics for Asaib during Center for Strategic and International Studies itary fatigues for a suit when he local commander, Karim Nouri, said com- shrine near Damascus. These days, he the war against Islamic State, ensuring (CSIS), sparked media coverage calling it a “great Ibecame one of 45 Shiite militiamen munication with Iran was ongoing “to operates from Iraq’s second city Basra in fighters showed up at their positions and deception” by the North Koreans. But South elected to Iraq’s 329-seat parliament. keep Tehran’s rivals - the United States the oil-producing south. Posters of arranging matters after deaths. He says the Korea’s presidential Blue House said without an Fada’am trained as a soldier in Iran and and Saudi Arabia - in check.” He did not Iranian Supreme Leader Ayatollah Ali protests in Basra flow from the failings of actual deal to violate, Pyongyang has broken no fought against Islamic State in Iraq. Now elaborate. Hisham Hashemi, a security Khamenei and revolutionary leader successive governments. promises. “North Korea has never promised to shut he’s a politician as paramilitary groups adviser to Iraq’s government, said he Ayatollah Ruhollah Khomeini adorn the “The protests now are a stark evi- down this missile base,” Blue House spokesman Kim backed by Iran have doubled their num- believed that Iran was in touch with Shiite wall of his office. He is beginning his sec- dence that corruption is spreading in all Eui-kyeom said. “It has never signed any agreement, ber of seats in Iraq’s parliament. The Fatih politicians “in order to have a means of ond term in parliament, having been government institutions. The next step any negotiation that makes shutting down missile Alliance bloc that represents them has applying political pressure, to guarantee elected for the first time in 2014. should be fighting corruption,” he said. bases mandatory... the fact that such a missile base become the second largest political bloc. their loyalty, to make sure they have an “The Americans should not consider “My primary objective after becoming a exists shows the necessity for negotiations to be In interviews, eight militiamen who armed force loyal to them. They provide Iraq as one of their villages. Iraq is an lawmaker will be helping to legislate to achieved quickly.” have translated their battlefield success advice on PR, propaganda, marketing, independent state with an ancient history. serve people’s interests and monitoring Asked about the report, Trump’s national securi- into electoral victories set out how they media, speeches, social media.” The United states must not deal with Iraq the performance of the government in ty adviser John Bolton told reporters in Singapore plan to use this new platform. Six months on the basis of zero give and 100 percent order to stamp out corruption.” on Tuesday that Trump “has given North Korea an after the vote, Iraq’s new Prime Minister Inspired by Iran, suspicious of America take,” he said. “Iran’s role was very effec- incredible opportunity to walk through a door to a Adel Abdul Mahdi has yet to win parlia- When Iraq’s top Shiite cleric Grand tive in arming Iraqi forces and the Hashid Revolutionary Guard II different future if they denuclearize...but they still mentary approval for his government. Yet Ayatollah Ali Al-Sistani urged his fellow (militia) through the government. Only the Some Iraqi politicians and military offi- need to do that.” The activity at the missile bases is already one thing is evident, the militia Shiites to join the fight against Islamic Islamic Republic of Iran supported Iraq cers worry that through the Shiite militias one of several examples why American officials may are better placed than ever to influence State in 2014, Fada’am was among the when the state was about to collapse. All Tehran is trying to create an Iraqi version be reluctant to lift any sanctions, said Shin Beom- policies, from domestic security to for- tens of thousands of Shiites who others were onlookers.” of the Iranian Revolutionary Guard, with chul, director of the Center for Security and eign policy. answered the call. He led the Dawn Like Iran, Khazali is opposed to the its parallel security apparatus and vast Unification at Seoul’s Asan Institute for Policy Mahdi’s predecessor as prime minister, Brigades, a force of 3,400 fighters. After American military presence in Iraq. He business empire. Iraqi militias have shares Studies. “In short, from the CSIS report we can infer Haider Al-Abadi, has said he fears the driving Islamic State from the town of Jurf says he is “pushing for a draft law to force in construction, trade and car import that first, North Korea is not sincere enough with militiamen will undermine efforts to unify al-Sakhr south of Baghdad, Fada’am lob- government to reconsider bilateral mili- companies. At the Safra border crossing, negotiating and second, there’s no change in their Iraq. Its young democracy is trying to bied the local government in his province tary cooperation with the United States.” 90 km north of Baghdad, the Badr nuclear capacity,” he said. balance the demands of its Sunnis, Kurds of Hilla to cancel the property rights of About 5,200 U.S. troops are based in Organisation, Iran’s closest paramilitary US officials have discussed possible clandestine and Shiites after years of sectarian con- Sunnis in the area, saying they were tied Iraq. They will stay “as long as needed” to partner in Iraq, collects custom tariffs and enrichment sites for nuclear fuel, and in July, ana- flict, and the economy is only beginning to Islamic State. The Hilla provincial help stabilize regions previously con- taxes on goods transported from the lysts at CNS used commercial satellite imagery to to recover from the country’s war with council agreed to his request. trolled by Islamic State, said a spokesman Kurdish region in the north, according to conclude that North Korea was “completing a major Islamic State. Abadi tried, unsuccessfully, Elected in May to represent Hilla in for the US-led international coalition. a local councillor and two former senior expansion of an important factory for producing to prevent militia leaders from standing in parliament, Fada’am says he now devotes Iraqi officials. The councillor said at least solid rocket motors for... nuclear-armed missiles”. the 2018 election. “How can a military his time to politics, frequently appearing Unclean water, corrupt officials $12 to $15 million goes to the Badr group In April, ahead of his meeting with Trump, Kim outfit have a political opinion? This does on talk shows broadcast on Shiite televi- Like Fada’am, Khazali is focused on each month. told a gathering of ruling party leadership the not happen in any part of the world. It is sion channels to drive home his anti-cor- everyday issues that are important to Local Badr commander, Imad Jafaar, nuclear arsenal represented a “great victory” and prohibited,” he said at the time. The militi- ruption message. Visitors stream into his Iraqis: contaminated water, dilapidated denied the group was using the crossing to announced there was no need for further tests of amen responded by announcing they office in Hilla seeking help. Like many infrastructure and corrupt officials. He has generate funds. Hard currency exchanges nuclear weapons or ballistic missiles. In the speech, would quit their military roles to comply parts of Iraq, Hilla lacks basic services. opened his office in Basra to anyone who along central Baghdad’s busy streets pay however, Kim also hinted at nuclear weapons playing with Iraq’s electoral code. Roads are potholed. Medical facilities are can provide proof of official corruption. fees to militias to protect keep their busi- an important role long into the future, calling them a Some in Washington are also worried. crumbling. He receives hundreds of He says he has put together a file contain- nesses, said three owners of currency “powerful treasured sword for defending peace” that Republican senators have introduced a requests from young people wanting a ing 100 cases. During the first session of exchange businesses and police sources. would “reliably guarantee” a dignified and happy life bill that would impose sanctions on two job in the civil service. parliament in mid-September, Khazali Cash flows do not stop at business inter- for generations of North Koreans. “Note the descrip- Iranian-backed militias in Iraq, Asaib Ahl Across town from his office is a hospi- successfully urged the chamber to send a ests. The Iraqi state budget allocated $1 tion of nuclear weapons as the only firm security al-Haq and Harakat Hezbollah al Nujaba. tal run by his followers. It provides free delegation to investigate the “miserable billion for the militias during the war with assurance,” Pollack said. “They are not seeking any Sponsors of the Iranian Proxies Terrorist medical care for militia fighters and mem- conditions” in Basra, the scene of protests Islamic State. A Hashid fighter is normally ‘security assurance’ other than the indefinite posses- Sanctions Act include Senators David bers of the public. Patients have access to over unsafe water, power shortages, paid $600 a month, compared to any army sion of nuclear weapons.” — Reuters Perdue, Ted Cruz and Marco Rubio. Iran an orderly, well stocked pharmacy. The unemployment and corruption. “Fighting soldier’s $200 salary. — Reuters Established 1961
WEDNESDAY, NOVEMBER 14, 2018 Business
Oil prices down on receding supply Ooredoo concludes ‘Business to CEF, AFESD hold forum to discuss 12shortage fears, weaker outlook 13 Digital’ forum with app market 14 world, Kuwait economic outlook
Al-Kharafi spearheads Zain women’s empowerment with revolutionary steps • First to create new role, Chief Inclusion and Diversity Officer, to drive empowerment • First to introduce flex time for working moms
KUWAIT: Zain Vice-Chairman and Group CEO Bader Al-Kharafi and the management team pose for a group photo with the female participants of the annual Women Empowerment (WE) Forum at the Four Seasons Hotel, Kuwait on Monday.
KUWAIT: Zain Group, the leading mobile telecom innovator in eight markets across the Middle East and Africa hosted its second annual Women • Brainchild of Bader Al-Kharafi, the initiative’s focus is on raising the roles Empowerment (WE) forum at the Four Seasons Hotel, Kuwait on Monday, gathering 300 female and number of women leaders across all Zain operations participants from across the Group, including • 12 months on, initiative having a marked impact on multiple levels within the CEOs of each Zain operation and their respective Human Resources heads. The meeting showcased company the progress and achievements to date, future • Forum witnesses all Zain country CEOs participate, indicative of the initia- plans and strategy, as well as highlighting how the efforts Zain is undertaking are closely aligned to tives importance the UN’s Women Empowerment guidelines. The initiative is the brainchild of Zain Vice- • Program implemented aligns with the UN’s Women Empowerment guide- Chairman and Group CEO, Bader Al-Kharafi, who lines in November 2017 inaugurated the female-focused empowerment initiative, aimed at achieving gender • In a regional first, Al-Kharafi announces the creation of a new position, Chief equality and empowering women in the organiza- Inclusion and Diversity Officer, to drive empowerment initiatives that define, tion to act, lead, develop, and succeed. During the forum, Al-Kharafi delivered informative keynote enhance and continue to cultivate an equitable work environment addresses on leadership development as well as holding discussions with the participants. KUWAIT: Bader Al-Kharafi delivers informative keynote address during the forum. Reaffirming his personal commitment to across all operations. Zain also implemented two • Zain signed up to the UN Women Women Empowerment within Zain, Al-Kharafi Zain’s newly formed strategic targets for females, continued to be mined during the last 12 months, strategic targets: 1. To increase female leadership Empowerment Principles and communicated this made two significant ‘regional first’ announce- underpinning McKinsey’s Four Imperatives for including a review on all Zain Group-related poli- positions from 14.5 percent to 25 percent by 2020 to all 6,000 employees ments, one being the application of flexible hours building a successful inclusion and diversity strate- cies and female-related initiatives; statistics of and 2. To evolve towards a gender diverse workforce. • Introduced a Women Empowerment commu- for working mothers with children up to kinder- gy based on Leadership Development, Culture females in leadership positions, women serving in nications app with 300 employees already using it garten age and, two, the creation of a new position Transformation, HR Policy Transformation and truly operational leadership roles and identifying Further achievements during the last 12 • Women Empowerment embedded into the and appointment of Maryam Saif as Chief Female Recruitment. common trends and hurdles across all Zain opera- months of the Zain WE initiative include: board of director’s agenda and placed on CEO Inclusion and Diversity Officer (CIDO) to drive Commenting on the second annual WE forum tions. This information was presented and dis- • Female leadership, director and above at Zain Scorecards new Empowerment initiatives that define, enhance and the progress to date, Al-Kharafi said, “We are cussed during this year’s meeting, resulting in the Group has grown from 14.5 percent to 15.5 percent • Two talented women from Zain operations and continue to cultivate an environment of inclu- confident that by implementing a series of targeted formulation of women-related empowerment in one year sponsored to attend MBA programs at ESADE, siveness and equal opportunities in which Zain women empowerment initiatives through awareness, activities and targets set for the next 12 months. • Female recruitment into Zain across all opera- Barcelona personnel across all operations may work produc- realization, and motivation, will result in both the Much progress has been made since tions grew from 21 percent of total recruitment to • Women Empowerment campaign and initia- tively and thrive. The CIDO will also continue to development of more future female leaders and in November 2017 including a Kick Off Women 29 percent tives communicated widely across all Zain internal empower youth and women. more females joining the company. I firmly believe Empowerment event for ambassadors that was • Over the past year, the number of women at and external platforms including social media plat- The forum saw all Zain country operation CEOs that championing gender diversity at Zain will create hosted in Bahrain in March 2018 as well as a Chief level increased from 6 to 11, an 83 percent forms participating in a panel session that focused on the competitive differentiation, fast-track our strategic workshop that focused on strategizing and increase As Women Empowerment is now part of the importance of the Women Empowerment Initiative ambitions of unlocking the tremendous growth planning actions plus a Centered Leaders gath- • 33 high potential female leaders have been Zain Group strategy, its action planning and track- on each individual operation whereby they all indi- opportunities in the digital arena and at the same ering in Kuwait in May 2018. identified to form the Centered Leaders program ing is measured through quarterly senior manage- cated their personal commitments to the initiative. time improve the company’s bottom line.” The WE program has taken measurable steps in • 61 Women Empowerment Ambassadors have ment operations review, with Bader Al-Kharafi Keynote presenters and coaches also participating In the lead up to last year’s inaugural WE event, raising the profile of women such as the appointment been onboarded and tasked with action planning personally overseeing progress. at the Forum included Joanna Barsh, Director a heavy baseline of data was collected and has of ambassadors to act as internal change agents Al-Kharafi concluded by disclosing his person- Emerita at McKinsey Global Consulting Group and al views on the impact that women entrepreneurs renowned author of several top-selling manage- and leaders are having on businesses of all sizes ment books, as well as Connie Dieken, the founder and on society at large across the region, “The of Influence 360º, who was named one of the number of women starting their own businesses or world’s Top 10 Executive Coaches. taking leadership roles is increasing across the Over a year ago, after having collected a heavy region in all sectors. Women by nature are able to baseline of information within the organization on multitask with high emotional intelligence, making the topic, it was identified that Zain Group’s total them more able to practice positive forms of lead- headcount of women amounted to just 22.6 per- ership. Financial independence, economic growth, cent of the total workforce, with the representation solution-based innovations, raising an entrepre- of women in leadership roles within the organiza- neurial generation, creation and development is an tion standing at just 14.5 percent. This was a red intrinsic motivator for women and you can observe flag to the company’s board and management, and this on a global scale. Today you find women lead- it was clear that a formal program to raise the par- ing or in key management roles in large conglom- ticipation of women at Zain at all levels was erates and start-ups, providing a different and required and pressing. dynamic management approach. This is incredibly Accordingly, Zain’s WE program in partnership inspiring and driving a new generation of future with McKinsey Global Consulting Group devel- women leaders will impact society positively on oped a detailed roadmap and program in-line with KUWAIT: WE ambassadors, centered leaders and Esade MBA winners present Bader Al-Kharafi an appreciation award. multiple levels.” 12 Wednesday, November 14, 2018 Business
NBK ECONOMIC REPORT Oil prices fall on receding supply shortage fears, weaker outlook Iran sanctions and record US production impact
KUWAIT: Since peaking at near four-year highs in early try’s energy, shipping and financial sectors were target- gain of 390,000 b/d over the same period, then OPEC demand growth projections brought down this year, by October, oil prices have dropped by more than 18 per- ed. Henceforth, foreign countries and entities purchasing and its allies are not far off the 1 mb/d they had promised 130,000 b/d to 1.3 mb/d, but the IEA has also cut its cent, to around $70/bbl (Brent) and $60/bbl (WTI), as Iranian crude without special US dispensation or trans- in late June. Saudi Arabia, for its part, ramped up produc- forecast for 2019, by 200,000 b/d to 1.4 mb/d. bullish market sentiments shift perceptibly more bearish acting with the Islamic Republic’s central bank will be tion in September by 500,000 b/d to 10.5 mb/d, close to The agency cited a combination of higher oil prices, on receding fears of a supply shortage caused by US effectively barred from doing business using the US its all-time high of 10.67 mb/d from November 2016. downward adjustments to Chinese data and weaker global sanctions on Iran, record high US crude production and financial system-a penalty that has forced Iran’s largest Kuwait and the UAE produced around 2.8 and 3.0 economic growth, as projected by the OECD and the on a weaker global economic and oil demand outlook. crude customers to pare back purchases and firms such mb/d in September, respectively, according to OPEC sec- International Monetary Fund (IMF). The Trump administration’s decision to temporarily as France’s Total to pull out of a planned $4.8 billion nat- ondary sources, which brings their respective incremental Higher oil prices combined with significant currency extend waivers to eight of Iran’s largest customers, ural gas development project in the country. The interna- increases from May to 110,000 b/d and 140,000 b/d. The depreciation in emerging markets stemming from rising including China, India, Japan and South Korea was a tional payments enabler, SWIFT, also announced that Saudi energy minister, Khaled Al-Falih, remarked recently US interest rates and some capital ‘flight to quality’-risks significant contributor to the bearish narrative. Oil several Iranian banks will have their access to the plat- that OPEC is in “produce as much as you can mode”, with the IMF identified in their October WEO- have raised the prices have also been caught up in the broader equity form suspended. Saudi Arabia looking at possibly 11 mb/d or higher over domestic cost of oil products in several emerging markets. market sell-off. However, in a surprise move on the eve of the sanc- the coming months. All the indications are that those oil In India, for example, which has seen its currency decline In the futures markets, hedge funds have reduced tions ‘snap-back’, the Trump administration, announced producers with the spare production capacity-Saudi by almost 15 percent this year against the dollar, the their ‘net long’ positions on Brent crude, the difference that eight of Iran’s largest crude oil customers, including Arabia, Iraq, Kuwait, the UAE and non-OPEC Russia- authorities had to reduce domestic gasoline and diesel between bets on higher prices (‘longs’) and lower prices China, India, South Korea and Japan-but not the EU as a intend to increase supplies in the short term. prices in early October to mitigate the impact on house- (‘shorts’), for the sixth consecutive week, to 260,048 single entity-would be offered temporary waivers to While a thinning Saudi and OPEC spare oil production holds. Even in the US, higher pump prices for the con- futures and options contracts, according to ICE data. allow them sufficient time to cut their imports down to capacity buffer-estimated at around 2 percent of global sumer are beginning to affect demand for gasoline. This is the lowest level since July 2017, indicating that zero, the administration’s stated objective. The EU, for its demand, which is low by historical standards-would ordi- Gasoline’s share of total US oil demand is significant at 44 investors are turning increasingly more negative about part, continues to hold out hope that its plans for a spe- narily sound the alarm bells as far as the markets are con- percent, but according to weekly August and September the oil price outlook. cial payments vehicle to help Iran bypass the US finan- cerned, the focus appears to have shifted to the risk that figures, gasoline demand has been contracting. The precipitous fall in prices, in the case of WTI, by cial system and continue exporting to Europe and Asia the market could tip into oversupply. Weighing on the outlook for next year in addition to more than 19 percent to its lowest level since March, will materialize. tighter US monetary policy is the possibility of height- appears to have prompted OPEC to consider the option Implicit in the US’s softer Iran stance is the Trump Oversupply concerns ened trade friction between the US and China. Oil demand of cutting production in 2019, a complete reversal of their administration’s anxiety over spiking oil prices and the These concerns were recently aired by both the Saudi would naturally be impacted were an escalation in trade current trajectory. effect on the US consumer both ahead of and after the US energy minister and the Saudi OPEC governor. Both tariffs to occur and result in slower global economic This is a far cry from the state of the market in the run midterm elections. But the markets also took the move as alluded to surging shale-led production in the US and ris- growth. The IMF lowered its global growth estimate for up to oil’s peak at $86 in early October. That rise capped a signal that the projected loss of Iranian crude may not ing US crude stockpiles amid weakening slowing global 2018 and 2019 by 0.2 percentage points to 3.7 percent, in a two-month price rally that was driven primarily by con- be so severe as to leave the markets short of barrels. demand growth. In the US, crude output set another all- part to reflect these downside risks. cerns of a global supply shortage caused mainly by the To be sure, Iranian crude exports continue to fall. The time high record in recently, reaching 11.6 mb/d in the US sanctions on Iran and falling output from Venezuela. most recent figures show the crude exports at 1.6 mb/d in week-ending 2 November, according to weekly data from Where now for oil prices? There were also doubts about Saudi Arabia and October, a decline of 926,000 b/d, or 37 percent, from the US Energy Information Administration (EIA). US The balance of risks appear skewed to the downside as OPEC’s ability to tap into spare production capacity to the country’s peak export volume of 2.4 mb/d in April, the crude production has now surpassed both Russia and far as oil prices are concerned. The markets seem to be offset these losses, as shown by the slower-than-expected month before the US announced its intention to re- Saudi Arabia as the largest in the world, surging by an attaching greater weight to surging OPEC and US crude ramp up in output from OPEC and its allies after they had impose sanctions. (Chart 3.) Though the rate of decline incredible 1.8 mb/d, or 19 percent, in 2018 so far. US production, rising stockpiles and weaker economic indicated in late June that they would pump an additional has eased somewhat over the last two months-and may crude stocks also notched up a seventh consecutive week growth ahead than they are to the possibility that Iranian 1 mb/d over the coming months to keep the market well- continue to do so now that the waivers have been issued- of increases, to reach 431.8 million barrels. sanctions and declining Venezuelan production will lead supplied. The slow pace of supply additions while the the expectation is that the regime’s crude exports will to a shortage of oil. Prices for future Brent oil deliveries price of Brent increased towards its eventual peak even probably fall back over the next few months to the previ- Oil market already in surplus are lower than for immediate, or spot, deliveries. Known drew the ire of President Trump, who accused OPEC of ous sanctions-era levels of around 1-1.2 mb/d. In fact, according to the IEA, oil supply has exceeded as backwardation, this state suggests that traders expect intentionally “ripping off the rest of the world”. oil demand in every quarter of this year, with more the market to have a surfeit of supply. OPEC finally opens the taps noticeable stock builds occurring over the second and Of course, if OPEC and its partners were to reverse Iran sanctions kick in OPEC has finally increased its output to compensate third quarters of the year. Saudi oversupply concerns, course in 2019 and cut production rather than On 5 November, US sanctions on Iran went into full for Iranian and Venezuelan losses. The group’s crude pro- therefore, appear to have some substance. increase it, then the landscape could change dramati- effect. In all, about seven hundred Iranian entities, includ- duction reached 32.7 mb/d in September, an increase of Moreover, on the current supply trajectory, the situa- cally. All in all, the only thing certain in this market ing individuals, banks and businesses, across the coun- 630,000 b/d over May’s levels. Adding in Russia’s output tion is not likely to improve in 2019. Not only were oil may be more volatility.
recently as late September it was nudg- Hedge funds ing 80,000 contracts, while in March China Oct loan last year it reached a record 107,844 contracts worth $8.4 billion. data disappoints, resume attack In September, the pound was as high as $1.33; in March last year it was as low on sterling as $1.22. It’s currently hovering just points to further above $1.28, so if funds intensify their attack on the pound, that $1.22 low slowing in economy LONDON: The likelihood of a hard could soon come back into view. Brexit, where the UK economy crashes Currency traders may already be out of the European Union without bracing for that lurch lower. Implied BEIJING: China’s credit growth slowed sharply securing a trade deal, is rising once one-month sterling/dollar volatility rose in October, despite pressure by regulators on again. And hedge funds smell blood above 11 percent on Monday for the first banks to help keep cash-starved companies again. time in nearly two years, and euro/ster- afloat, pointing to further weakening in the Funds and speculators trading US ling one-month implied vol hit its high- economy in coming months. While October is futures markets are once again turning est in a year at 8.7 pct. typically a slow month for Chinese credit, their guns on sterling, extending their The difference between sterling/dol- growth in key gauges such as total social net short position for the second week lar vol and euro/dollar vol is now its financing and money supply fell to record lows, in a row, something they haven’t done widest in over two years. reinforcing views that policymakers will need to for over two months. Sterling is not alone in its struggle step up efforts to revive flagging investment. The latest Commodity Futures against the dollar, which is on the The weaker trend also suggested overall Trading Commission figures for the march against all major currencies. But credit conditions in China tightened last month week ending Nov. 6 show funds it has the added drag of Brexit, which despite recent easing in monetary policy, SHANGHAI: This aerial picture taken on the night shows traffic on an elevated intersection in increased their net short sterling posi- is infecting the domestic UK growth including moves by the central bank to bring downtown Shanghai. — AFP tion by 4,317 contracts to 56,799 con- outlook. down market interest rates and four cuts in tracts. That’s a $4.6 billion bet that the The European Commission last week banks’ reserve requirements so far this year. pound will fall. released its latest 2019 growth projec- “October credit data is weaker than were fuelled by past spending binges. new loans of 862 billion yuan in October, down The bearish turn comes against a tions. Britain was bottom of the 28- expected,” said Luo Yunfeng, an analyst at Chinese banks extended 697 billion yuan from 1.38 trillion yuan in September but well renewed wave of negative domestic strong list of EU nations, alongside Italy, Merchants Securities in Beijing. However, Luo ($100.23 billion) in net new yuan loans in ahead of seasonal norms as lenders began to Brexit headlines for the pound: more with growth next year forecast to be believes the room for further policy easing is October, central bank data showed yesterday, heed regulators’ calls to support smaller firms government resignations, a cabinet just 1.2 pct. limited as Beijing remains concerned about much less than expected. hit by the economic slowdown, especially those divided more than ever, and growing Bank of England Deputy Governor controlling debt and financial risks, which Analysts polled by Reuters had predicted in the private sector. — Reuters signs parliament won’t back Theresa Ben Broadbent said on Monday that the May’s proposed compromise with effect of Brexit uncertainty on business the EU. investment had intensified this year, and heavy hitters such as national carrier Vietnam The airline is owned by Trinh Van Quyet, who Funds and speculators had gradually that growth in the fourth quarter looks Vietnam’s newest Airlines and budget carrier Vietjet to serve a heads the FLC property empire that includes lush scaled back their net short CFTC ster- likely to slow. mushrooming middle class with growing beachside resorts, golf clubs and luxury condos ling position for most of last month to With less than five months left before appetites, and budgets, for travel. across Vietnam, a country still under one-party $3.8 billion from $6.5 billion in mid- Britain and the EU officially part ways, a airline Bamboo Vietnam’s Transport Ministry said Bamboo’s communist rule. Bamboo has already signed up to September, which was the largest bet one-in-four chance remains the sides official aviation license had been approved and buy 20 of Boeing’s 787 Dreamliners worth $5.6 against the pound since May last year. will fail to reach a deal on the terms of gets license that it would aim to operate 100 routes, includ- billion and committed a further $3.2 billion to buy But that came to an abrupt halt in the departure, according to economists ing to lesser-travelled destinations in Vietnam 24 Airbus A321neo planes. last two weeks. polled by Reuters last week. Taken and elsewhere in Asia, with plans to eventually The airline said its inaugural flight, originally And if the UK political backdrop together, falling investment, slowing HANOI: Vietnam’s newest carrier Bamboo fly to North America. “The first domestic scheduled for last month, should take place deteriorates further, don’t be surprised if growth and political paralysis paints a Airways has been granted a license to fly, officials flights... are aimed at reducing pressure on avia- before the end of the year. “We have conducted sterling tests and then breaks below the pretty bleak picture for the pound. How and the airline said, paving the way for its inaugu- tion infrastructure in major cities, strengthening a flight test, the results show that the aircraft $1.2650 low that has been in place since much of that is reflected in the exchange ral flight in a region crowded with competitors. regional links (and) promoting tourism to fully meets technical specifications (and is) April last year. rate and investor positioning already Run by one of the country’s richest men, Vietnam,” the Transport Ministry said in a state- ready to go into operation,” CEO Dang Tat There’s certainly room for specs to will determine how much lower sterling Bamboo will compete with well-established ment yesterday. Thang said in a statement. — Reuters expand their net short position. As goes from here. If at all. — Reuters 13 Business Wednesday, November 14, 2018 Ooredoo successfully concludes ‘Business to Digital’ forum with Kuwait app market Largest gathering for application developers in Kuwait
KUWAIT: (From right) Abdulrazak Al-Mutaiwa, Yousef Al-Fadala, Sheikh Mohammad Bin Abdullah Al-Thani, Mahmoud Al-Marzouq and Ahmad Al-Nama during the Business to Digital forum organized by Ooredoo.
KUWAIT: As part of the Business to Digital universities, as well as providing an online forum organized by Ooredoo, a number of • Al-Thani: Ooredoo will continuously support the youth in the technology and innovation sectors market for students and tourists in Britain. entrepreneurs and smart application developers Sulaiman Al-Salahi, developer of “go diving” participated in the forum to discuss their experi- • Al-Daihani: The application market is expanding rapidly with 5 new applications per week app, said that his app is the first of its kind in ences and challenges and meet with potential booking diving trips in Kuwait, the Gulf region investors at the Kuwait App Market. App Market and stands #1 comparing to of Directors of The Kuwaiti Public Relations pointed out that this delivery service provides and Egypt. Abdulaziz Amir, the owner of the Speaking to the application developers, Competition & standing #16 in Kuwait app Society, expressed his gratitude for attending fast delivery within an hour maximum, along site darebnionline.com, said that he provides Ooredoo CEO Sheikh Mohammad Bin Abdullah store ranking. this forum, saying that the role of technology with selling flowers and various gifts. training services to the public, as well as his Al-Thani said that the forum is considered a At the opening of the introductory meet- cannot be overlooked in the field of business Mohammed Al-Qallaf explained how his account on Instagram darebni, which contains unique event and a part of the company’s vision ing of developers, Neda Al-Daihani said that development. He explained that Ooredoo has app “Ihgizli” works, saying that it offers travel, more than 900 articles concerned with nutri- towards digitalization. He said “Tonight I am the smart apps market is becoming much proved to be supportive of young people, as it ticketing services and other similar services. tional awareness. proud to see young creative developers like you more prominent to a degree that cannot be provided them with an opportunity to meet and For his part, Bader Al-Yaqout, developer of Shaddah Al-Dokhi, developer of 2contact, gathered together to share your experiences. ignored. He added that there is around 120 exchange expertise, which reflects Ooredoo’s 4house app said that it specializes in every- introduced her app as providing search engine You are all a great example of the aspiring youth billion us dollars being channeled for invest- interest in technological and technical projects. thing related to the households, starting from services to facilitate the networking of services that we at Ooredoo are proud to support.” ment in this sector worldwide, while the total Dr Nasser Al-Manea, developer of “go uni” selling electronics, up to garden accessories of handicraft professionals and offering infor- Al-Thani stressed the fact that we are living investment in this same sector in the Gulf app, began by saying that his app is concerned and home equipment. He pointing out that his mation about them, as well as availing search in a world of mobile apps, where our appoint- region revolved around 100 million dollars with all that is related to university students, app is considered the first of its kind. engines for looking up and identifying compa- ments, our bills, our health, our daily activity and during the third quarter of 2018 only. starting from taking attendance and absence Abdullah AbuZaid, the owner of site and nies and their locations Ayub Oki, owner of everything is controlled by at least one or two electronically, up to exchanging books and app “Gazly”, said that his app is concerned emstell Co, talked about his company that pro- applications that we cannot live without. He Expertise exchange coordinating duties. He noted that his app is with fashion and accessories. He added that vides services for websites and app develop- pointed out that according to Forbes, in 2017, Al-Daihani pointed out that this market is being used by about 30 thousand users from he started from Kuwait and from there ment in Kuwait, Saudi Arabia and Britain. total number of app downloads were over solidly spreading, as there are at least about 5 Kuwait and abroad. expanded to include the Gulf region. He offers Abdulwahab Al-Hashemi, developer of perfict- almost 270 billion and is expected to increase in apps that emerge weekly in Kuwait alone. He The owner of portarage app & company said delivery services of all that is related to fash- fit app, said that his app provides personal the upcoming years added that Ooredoo has managed to gather that his app provides car maintenance services ion and accessories from Turkey to the cus- trainer booking services in any field of sport. Al-Thani stressed the fact that we at more than 50 apps during this forum, some of on the road, where the company works 24/7. He tomer directly. He stressed that his app is the first of its kind in Ooredoo Kuwait - believe in the fact that many which have already gained investment funds, pointed out that the app makes its services Bader Al-Azmi, developer of app “mobtath” Kuwait. Saad Al-Dosari, developer an app spe- applications are essential to our life, and to the while some others are still new. He stressed that available to people with special needs for free. said that the app provides a free service to cialized in offering tourism discounts, said that life of our customers. This is why we developed the aim of the market is that we benefit from Form her part, Taibah Al-Humaidhi spoke about students who are studying in Britain and to his app is considered the first search engine for the Ooredoo App for our customers. My each other’s experiences. her app floward, which is the first site special- those who wish to study in Britain, through tourist discounts for all travel companies in Ooredoo App is dominating the Kuwaiti Teleco Jamal Nasrallah, the Chairman of the Board ized in delivering gifts and roses in Kuwait. She helping them obtaining admission from British Kuwait and Saudi Arabia.
Al-Babtain presents the Ooredoo ‘Business to Digital’ holds a panel discussion future of Ooredoo Business KUWAIT: The Business to Digital Forum featured various presentations in the field of IoT and ICT. The first pres- entation was by head of B2B at Ooredoo Abdulaziz Al-Babtain who discussed the future of Ooredoo Business. Al-Babtain suggested that business- es with Ooredoo are gaining more opportunities to expand in new markets and to even lower their costs. He added that a company does not have to build its own firewall, instead it can now part- ner in a new and stronger firewall on the cloud that Ooredoo can present to KUWAIT: Head of B2B at Ooredoo Abdulaziz business companies, without being Al-Babtain during a presentation. obliged to build their own firewall. Al-Babtain said that the future is full applications and that you (as a business of new options for businesses. He added company) do not have to do so. He that Ooredoo is shifting from an old encouraged entrepreneurs saying: “Just model to another new model. He come to us and within a week we can stressed that businesses can benefit provide you with all the applications Mijbil Al-Ayoub moderating a panel discussion. from utilizing digital technology in data you need and they will be up and run- analysis and data security to the maxi- ning as if they are working in your own 0KUWAIT: The highlight of the forum was a They discussed the threats of cybercrime and ply impossible to secure all of this. mum degree. Al-Babtain suggested that company premises”. discussion panel by some of the biggest how it is changing in this modern day. In addi- In order to defend against these constantly Ooredoo centres, can provide business- Al-Babtain iterated that business es with cloud services that are secure companies need not to risk their busi- names in the industry who discussed cyber tion to the discussion of high-speed attacks evolving threats, security planning must go and beneficial. He elaborated about the ness working single-handedly with such threats, AI techniques and technical defense and the most sophisticated threats today and beyond mere research. AI techniques have led to example of DDoS. He said that even applications. He suggested that networks. Moderating and leading this panel how they play a dangerous game. There was the emergence of self-learning, self-defensive and young tech-savvy can cause damage to Ooredoo can provide all those applica- was Corporate Communications Senior also the matter of disrupt operations and capable networks to achieve this. They said big companies and institutions tions for businesses, with less cost and Director Mijbil Al-Ayoub. The panel was com- undermining corporate trusts. adding that these techniques independently detect Al-Babtain said that at Ooredoo more productivity. Ooredoo indicated prised of Bilal Agha; Ooredoo B2B Marketing All panel members were in agreement that and respond ongoing attacks in real time, pointing businesses can be protected from such that the company is ready to support Director, Nezar Qasrawi; HP Territory Sales the digital environment was changing as digiti- out that electronic immune systems enable e- attacks. He added that providing the youth and their projects and also Manager, Mohammed Bakry; Cisco Head of zation, intranet and cable systems increased; security to focus on higher-value tasks, and can right kind of protection requires speed encouraged them to achieve and be Systems Engineer and Shadi Khuffash; meaning that the influence of the networks bor- cope with high-speed threats. It operates in all and capacity that most business com- innovative. The Ooredoo booth was Fortinet Regional Telco and MSSP Manager. ders was more than ever before and it was sim- environments and cyberspace, including Clouds. panies lack. He suggested that this is comprised of state of the art technolo- exactly where Ooredoo can step in to gies and showed the capabilities of our serve businesses. Al-Babtain said that data center and also showcased the lat- Ooredoo can host all your (business) est B2B offers.
Yousef Alshallal with guests during the forum. KUWAIT: (From right to left) Fajar Al-Matrouq, Fatma Al-Dashti, Jamal Al-Nasarallah and Talal Al-Fadhli during the forum. 14 Established 1961 Business Wednesday, November 14, 2018 KIPCO announces net profit of KD 20.4m for first 9M of 2018
Group performance continues to fare well: CEO-Investment
KUWAIT: KIPCO - the Kuwait Projects Company (Holding) - announced a net profit of KD 8.32 Renault’s unstoppable SUV, million ($27.4 million), or 3.43 fils per share (US$ 1.1 cents), for the third quarter of 2018 (the three all-new Duster in Kuwait months ended September 30, 2018). KUWAIT: Abdulmohsen Abdulaziz Al-Babtain Co, the authorized This is a 30 per cent increase over agent of Renault in the State of Kuwait welcomes the all-new Duster - the KD 6.42 million (US$ 21.2 mil- the unstoppable SUV - to its Kuwait line-up. While offering a range of lion) reported in the second quarter high-quality, new features, the reinvented SUV retains the same level of of the year and a 2 per cent increase affordability that the name ‘Duster’ is celebrated for. over the profit reported for the same Tariq AbdulSalam The all-new Renault Duster boasts brand-new exterior styling, deliv- period last year. ering a distinctly assertive and robust look, as well as an upgrade in per- and new equipment, making it a genuine adventure-ready SUV which For the first nine months of 2018, ceived quality with a totally redesigned interior for a comfortable and offers the versatility and comfort for everyday driving. On stepping the company made a net profit of stood at KD 10 billion ($33 billion) user-friendly driving experience. The Duster’s roominess, affordability inside the cabin, the noticeable difference in quality is instantly recog- KD 20.4 million ($67.3 million), or compared to KD 10.3 billion ($34 and off-road capabilities have long been recognized as the model’s nizable - packed with ‘Easy Life’ features like Hill Descent Control, 9.44 fils per share ($3.1 cents), billion) reported at year-end 2017. strengths and the all-new models continues to carry these desirable Multiview camera and Blind Spot Warning, 4x4 monitor, automatic air compared to KD 22.3 million ($73.6 Tariq AbdulSalam, KIPCO’s Chief attributes. conditioning, Remote Engine Start (GCC only), seven-inch touchscreen million) reported for the same peri- Executive Officer - Investment, said: The SUV’s exterior has been given a more robust look thanks to the tablet and Renault smart card with keyless entry system - as well as od last year. The company also “Our performance throughout 2018 addition of a wide chrome-finish grille which extends to the head lights quality trims and materials. reported a 10 per cent increase in has fared well despite the challenges positioned at the car’s front corners. A front skid plate reinforces the The all-new Duster is available in both 2WD and 4WD specifications its total revenue from continuing that regional economic circum- Duster’s adventurer credentials and ensures that the vehicle never loses and offers among the market’s very best off-road capability. With a operations during the nine months stances continue to present. We its smart looks. Finished with Renault’s signature C-shaped lighting with choice of two petrol engines; 1.6L (4x2) mated to a CVT automatic of 2018, to KD 561 million ($1.85 attribute our stable performance to LED daytime running lights the Duster is a modern SUV with a rugged transmission, and 2.0L with automatic transmission (4x4), the Duster is billion) from KD 508 million ($1.68 internal streamlining and capacity personality. an SUV equipped for any terrain. Renault Al-Babtain encourages billion) reported for the same peri- building across the Group, as we Inside, the Duster is equipped with new, high-quality, driving aids Renault fans to stop by the showroom situated in Al Rai to view the od in 2017. draw strength from our long-term ‘best in class’ model for themselves. KIPCO’s consolidated assets strategy of portfolio diversification.”
This included an operating income of $62.79 Ithmaar Holding, million for the three-month period ended 30 September 2018, a 16.6 percent increase compared to $53.87 million for the same Ithmaar Bank period last year,” said HRH Prince Amr. Ithmaar Holding Chief Executive Officer, Kaspersky Lab starts data report profit Ahmed Abdul Rahim, who is also the Ithmaar Bank Chief Executive Officer, said the finan- processing for European users cial performance of both institutions demon- KUWAIT: Ithmaar Holding B.S.C., a Bahrain- Amr Mohammed strate that efforts to turn the Group around KUWAIT: From today, malicious and mated malware analysis. Files com- based financial institution, and its wholly- Ahmed Abdul Rahim Al-Faisal are paying off. suspicious files shared by users of prise only part of the data processed owned subsidiary, Ithmaar Bank B.S.C. (closed), “Ithmaar Holding’s balance sheet remained Kaspersky Lab products in Europe by Kaspersky Lab technologies, yet a Bahrain-based Islamic retail bank, each stable with total assets at $7.99 billion as at will start to be processed in data cen- the most important one. Protection of announced their financial results for the third 30 September 2018, as compared to a net loss 30 September 2018, compared to $8.61 billion ters in Zurich, initiating the first part customers’ data, together with the quarter of 2018 with both reporting profits. of $17.80 million reported for the same period as at 31 December 2017,” said Abdul Rahim. of a relocation commitment made by safety and integrity of infrastructure The announcement by the Ithmaar Holding in 2017. EPS for the three-month period “Total owners’ equity stood at $187.29 million the company in late 2017 under its is a top priority for Kaspersky Lab, Chairman His Royal Highness Prince Amr Al- increased to negative US Cents 0.07 com- as at 30 September 2018, a 47.3% decrease Global Transparency Initiative. The and that is why the file processing Faisal, who is also the Ithmaar Bank Chairman, pared to negative US Cents 0.61 for the same compared to $355.33 million as 31 December move reflects Kaspersky Lab’s deter- relocation comes first and is expected follows the review and approval of both Board period in 2017. 2017, and the decrease is mainly due to the mination to assure the integrity and to be fully accomplished by the end of of Directors of the consolidated financial “On behalf of the Ithmaar Holding Board of early adoption of the new Financial trustworthiness of its products and is 2019. The relocation of other types of results for the nine-month period ended 30 Directors, I am pleased to announce that our Accounting Standard (FAS 30) “Impairment, accompanied by the opening of the data processed by Kaspersky Lab September 2018. 2018 results continue to highlight the turn- credit losses and onerous commitments” that company’s first Transparency Center, products, consisting of several kinds Ithmaar Holding reported a net profit of around in our financial performance,” said was issued by the Accounting and Auditing also in Zurich. of anonymized threat and usage sta- $11.34 million for the nine-month period end- HRH Prince Amr. “This achievement, which is Organization for Islamic Financial Institutions The relocation of data processing tistics, is planned to be conducted ed 30 September 2018, as compared to a net made all the more significant by the challeng- (AAOIFI),” he said. is part of a major infrastructure move during later phases of the Global loss of $16.25 million for the same period in ing market conditions that characterized much “Meanwhile, Ithmaar Bank’s financial designed to increase the resilience of Transparency Initiative. 2017. Net profit attributable to equity holders of 2018, is testimony to the strength of the results show a net profit of BD4.76 million for the company’s IT infrastructure to Today also marks the opening of for the nine-month period ended 30 Group’s core retail banking business,” he said. the nine-month period ended 30 September risks of data breaches and supply- Kaspersky Lab’s first Transparency September 2018 was $2.73 million, as com- “The 2018 results show that total income 2018, a decrease of 17.8 percent compared to chain attacks, and to further prove the Center in Zurich, enabling authorized pared to the $27.04 million net loss reported for the nine-month period ended 30 a net profit of BD5.79 million for the same trustworthiness of its products, serv- partners to access reviews of the for the same period in 2017. The increase net September 2018 increased to $334.52 million, period in 2017,” said Abdul Rahim. “Net profit ices and internal processes. company’s code, software updates profit is mainly due to higher impairment pro- a 10.6 percent increase from the $302.34 mil- attributable to equity holders for the nine- From November 13, threat-related and threat detection rules, along with vision in the previous period resulting from lion reported for the same period last year. month period ended 30 September 2018 was data coming from European users will other activities. Through the classification of an associate to held-for-sale. This included total income of $109.09 million BD1.56 million, a decrease of 9.9 percent start to be processed in two datacen- Transparency Center, Kaspersky Lab This has been reclassified as an associate dur- for the three-month period ended 30 compared to the BD1.73 million net profit ters. These provide world-class facili- will provide governments and part- ing 2018. Earnings per share (EPS) for the September 2018, a 15.7 percent increase reported for the same period in 2017,” he said. ties in compliance with industry stan- ners with information on its products nine month period increased to US Cents compared to $94.27 million reported for the “The results included a net profit of BD1.15 dards to ensure the highest levels of and their security, including essential 0.09 compared to negative US Cents 0.93 for same period last year. This was mainly due to million of the three-month period ended 30 security. and important technical documenta- the same period in 2017. higher share of profit after tax from associ- September 2018, a decrease of 18.3 percent The data, which users have actively tion, for external evaluation in a The results included a net profit of $0.51 ates resulting from reclassification from held- compared to a net profit of BD1.41 million for chosen to share with Kaspersky Lab, secure environment. million for the three-month period ended 30 for-sale to associate during the period,” said the same period in 2017,” said Abdul Rahim. includes suspicious or previously These two major developments will September 2018, as compared to a net loss of HRH Prince Amr. “As a result, our operating “Net profit attributable to equity holders for unknown malicious files and corre- be followed by the relocation of data $14.66 million for the same period in 2017, and income for the nine-month period ended 30 the three-month period ended 30 September sponding meta-data that the compa- processing for other regions and, in a net loss of $2.12 million attributable to equi- September 2018 increased to $211.47 million, 2018 was BD0.19 million, a decrease of 0.5 ny’s products send to Kaspersky phase two, the move to Zurich of soft- ty holders for the three-month period ended a 16.8 percent increase from the $181.08 mil- percent compared to the BD0.19 million profit Security Network (KSN) for auto- ware assembly. lion reported for the same period last year. reported for the same period in 2017,” he said.
ing challenges, taking into consideration conflicts, the CEF, AFESD hold refugee crisis, high unemployment especially among the youth, uncertain prospects for private sector growth, and volatile oil prices. forum to discuss In his presentation and subsequent discussion with the audience, Professor Maurice Obstfeld projected world, Kuwait that the global economic expansion remains broadly solid for the moment but has become less balanced and may have plateaued in major economies. Global growth, economic outlook for 2018 and 2019, which the IMF had projected at 3.9 percent earlier this year, is now projected at 3.7 per- KUWAIT: The IMF Middle East Center for Economics cent for both years. Downward revisions are mainly due and Finance in Kuwait, jointly with the Arab Fund for to outlook deterioration in some emerging market (EM) Economic and Social Development, held a high-level economies, after a weaker early 2018 outturn in several symposium that discussed the world economic outlook advanced economies (AEs). KUWAIT: (From left to right) Maurice Obstfeld, Dr Yousef Al-Ebraheem, Kamiar Mohaddes and Christopher Payne and its implications for Kuwait and the region. Financial market conditions have differentially tight- during the forum. The IMF Middle East Center for Economics and ened for emerging and developing economies, he said, Finance (CEF) in Kuwait, jointly with the Arab Fund for in a setting of high policy uncertainty - especially on accelerate key fiscal and structural reforms, Professor concerning for AEs, where core inflation rates as well Economic and Social Development (AFESD), held a trade and monetary policies. Obstfeld said. as nominal interest rates generally remain low. This high-level symposium on “The World Economic Beyond the short-run prospects, medium-term glob- concern highlights the need to energetically undertake Outlook, Implications for Kuwait and the Region” on al growth will fall (due to lower potential growth, Avenues structural reforms, enhance financial stability frame- November 12. The event was hosted at the Arab Fund’s unwinding of procyclical US fiscal stimulus). He commented that there are abundant avenues to works, and rebuild fiscal buffers. Research for OECD headquarters. The panel discussion was chaired and Professor Obstfeld documented that EM spreads enhance the global trading system to produce higher economies shows, he said, that policy responses to moderated by Dr Yousef Al-Ebraheem, Economic have widened, and currencies generally depreciated, growth for all countries. One important opportunity is crises are more effective when initial public debt levels Advisor at Al-Diwan Al-Amiri. It included, as the while capital inflows have shrunk, especially for coun- in services trade. Global GDP could be raised substan- are lower. A key requirement for a healthy global econ- keynote speaker, Professor Maurice Obstfeld, the IMF’s tries with weaker fundamentals. Past favorable financial tially through reductions in trade barriers, including omy, according to Professor Obstfeld, is to enhance Economic Counsellor and Research Department conditions have left a legacy of higher corporate and behind-the-border barriers. Unfortunately, the political multilateral collaboration among countries - on trade, Director, and as discussants Professor Kamiar sovereign debt exposures worldwide, but EMs might climate may not be so favorable for further trade liber- financial stability, international taxation, refugees, and Mohaddes of Cambridge University, and Dr. be especially vulnerable, given the present confluence alization, despite the gains it offers. While the recent climate, among other areas of common concern. Christopher Payne, Economic Advisor to the Governor of pressures, to global shocks - these could come from Pew survey shows that citizens throughout the world Following Professor Obstfeld’s presentation, Professor at the Dubai International Financial Center. trade actions, slowdown in China, unexpected financial broadly favor trade (with even an uptick in sentiment Mohaddes and Dr Payne presented a complementary During his introductory remarks and the subsequent tightening in AEs, tensions within the European Union, since 2014), AE respondents, in particular, remain skep- analysis of the reforms needed in Kuwait and the region discussion, Dr Yousef Al-Ebraheem indicated that the and adverse geopolitical events. tical that trade generates jobs and wage growth. This to address the challenges and opportunities presented by symposium was the ninth high-level forum organized Reflecting geopolitical concerns (including the US may reflect slower growth in AEs, together with the the world economic outlook, discussing lessons from oth- by the CEF jointly with the AFESD, aimed at stimulating secondary sanctions relating to Iran) and supply fail- stagnation of incomes at the lower reaches of the er countries’ experiences in the Middle East and other an open debate on the evolving economic challenges ures (for example, in Venezuela), oil prices have risen income distribution. regions. The floor was then open for discussion with the faced by policymakers in Kuwait and the wider Arab this year despite some softening more recently. This Professor Obstfeld pointed out that should current audience, whose interventions reflected a broad range of community. He discussed recent global economic development has helped lift the current and projected risks lead to a sharp slowdown, policymakers have less interests, including participants from the public sector, developments, and overviewed the key reforms neces- growth in GCC countries. For Kuwait in particular, a monetary and fiscal policy space to act compared with the banking and business community, academia, as well sary to better prepare the Arab world tackle the result- period of faster growth provides an opportunity to ten years ago. The lack of monetary space is especially as representatives from international organizations. 15 Business Wednesday, November 14, 2018 KAMCO reports KD 1.05 million net profit for first nine months of 2018 Results demonstrate success of our growth strategy: Sarkhou
KUWAIT: KAMCO Investment Company, a leading both in Kuwait and across have and will arise as we strive to enhance our offering.” our products and services.” In regards to the market dur- investment firm with one of the largest AUMs in the region, the region. We currently He also said, “During Q3, KAMCO issued a KD 40 mil- ing this period, investor interest continued to remain announced its financial results for the first nine months have a strong liquidity base lion bond with both Gulf Bank and KAMCO acting as joint strong in GCC markets during Q3-2018, especially against ended September 30, 2018. The Company recorded a net and financial profile that har- lead managers and arrangers for the issuance. The trans- the backdrop of recent market upgrades announced for profit of KD 1.05 million, an increase of 6 percent over the ness the full strength of our action was covered in the shortest subscription period for Saudi Arabia and Kuwait. The aggregate regional index prior year’s KD 997 thousand for the same period. integrated business model, a KD denominated bond in the history of Kuwait’s market. recorded double digit growth for YTD-2018 led by attrac- Earnings-per-share (EPS) reported for the period were delivering growing returns We also successfully concluded our purchase of a 69.528 tiveness of blue-chip stocks across the market. On the 4.45 fils up from 4.20 fils in 2017. Revenue for the period on behalf of our valued percent majority stake in Global Investment House economic front, the surge in oil price to a 4-year high has was KD 8.6 million, up by 12 percent from KD 7.7 million clients and shareholders. The (“Global”). This transaction was rated as one of the top 5 supported the government on the fiscal front, triggering for the same period in 2017. Fee income for the first nine strength of our operating GCC M&A transactions, as of the end of the third quarter upgrades to future economic growth projections. In addi- months reached KD 6.12 million, a 34 percent increase model and culture is evident of 2018. We have increased the number of portfolios under tion, the government’s support of the private sector cou- from KD 4.57 million for the same period last year. in the consistency of our management and will continue to seek alternative invest- pled with efforts to grow the non-oil economy augurs well Chief Executive Officer of KAMCO, Faisal Mansour Faisal Mansour Sarkhou performance over time, and ment solutions, as well as introduce new product offerings, for corporate profitability, which remained upbeat for the Sarkhou, said, “The consolidated financial results for the we remain optimistic about to help our clients reach their unique investment goals. We first nine months of the year. This, along with a strong nine months witnessed improved growth due to imple- the future. We are confident and certain about the path we will continue to strengthen our investments, despite trad- regional banking balance sheet, provides a conducive menting KAMCO’s growth strategy and expansion plan, have followed for the company and the opportunities that ing in challenging markets, while optimizing and enhancing environment for accelerated growth in the near term.
Warnings of a Oil demand under ‘domino effect’ of growing threat protectionism as from electric cars, ASEAN meets
SINGAPORE: Asian leaders gathered for a summit yes- cleaner fuel: IEA terday amid warnings that the post-World War Two inter- national order is in jeopardy and trade tensions between LONDON: Electric vehicles and more efficient fuel Washington and Beijing could trigger a “domino effect” of technology will cut transportation demand for oil by protectionist measures by other countries. Malaysian Prime Mahathir Mohamad told a business 2040 more than previously expected, but the world forum ahead of the summit in Singapore that other devel- may still face a supply crunch without enough invest- oped countries would take a cue from the United States ment in new production, the International Energy and China if their tit-for-tat tariff war is allowed to spiral. Agency (IEA) said yesterday. “The trade tension between the two world powers is Oil demand is not expected to peak before 2040, bound to create a domino effect that will affect trade reac- the Paris-based IEA said in its 2018 World Energy tions and will be a reason for other developed countries to Outlook. The IEA’s central scenario is for demand to adopt protective measures against developing countries, grow by around 1 million barrels per day (bpd) on aver- including the ASEAN countries,” Mahathir said, referring age every year to 2025, before settling at a steadier to the 10-nation Association of Southeast Asian Nations rate of 250,000 bpd to 2040 when it will peak at 106.3 (ASEAN). Chinese Premier Li Keqiang - for a second day million bpd. - struck a conciliatory note on the trade spat, saying he “In the New Policies Scenario, demand in 2040 has was hopeful that the two sides will find a way to prevent it SINGAPORE: Singapore’s Trade and Industry Minister Chan Chun Sing (C) speaks during the 17th ASEAN been revised up by more than 1 million bpd compared escalating further. Economic Community Council Meeting on the sidelines of the 33rd Association of Southeast Asian Nations with last year’s outlook largely because of faster near- “I still hope we can hold talks based on mutual respect, (ASEAN) summit in Singapore. — AFP term growth and changes to fuel efficiency policies in balance and mutual benefits to resolve the issue. There are the United States,” the agency said. The IEA believes no winners in a trade war,” Li said before his meeting with there will be around 300 million electric vehicles on the the ASEAN leaders. US Vice President Mike Pence will blocs. Returning to the theme as the leaders sat down to negotiate with all sides to push ahead with free trade road by 2040, no change on its estimate a year ago. But attend the Singapore meetings instead of President dinner, he said: “Countries are becoming insular, retreating internationally, and we’re also willing to discuss a fairer it now expects those vehicles will cut demand by 3.3 Donald Trump, who has repeatedly panned existing multi- from multilateralism and globalization, which has been the system.” The RCEP agreement includes 16 countries, million bpd, up from a previous estimated loss of 2.5 lateral trade pacts as unfair and has railed against China cornerstone of ASEAN peace and stability.” China’s Li is including ASEAN nations, Australia, China, India, Japan, million bpd in its last World Energy Outlook. over intellectual property theft, entry barriers to American expected to rally support at the Singapore meetings for New Zealand and South Korea, but not the United “... Efficiency measures are even more important to businesses and a yawning US trade gap. the Regional Comprehensive Economic Partnership States. The draft of a statement to be issued by RCEP stem oil demand growth: improvements in the efficiency It was not clear if Li and Pence would meet separately (RCEP), a free trade pact that will encompass more than a nations later in the week, which was reviewed by of the non-electric car fleet avoid over 9 million bpd of on the sidelines in Singapore, which would be a prelude to third of the world’s GDP. Reuters, said the group would instruct “ministers and oil demand in 2040,” the IEA said. a summit scheduled between Trump and Chinese President “Free trade has, in some aspects, prevented war effec- negotiators to work toward the full conclusion of the Oil demand for road transport is expected to reach Xi Jinping at the end of the month in Buenos Aires. tively,” he said in a speech on Tuesday. “We are willing to RCEP negotiations in 2019”. — Reuters 44.9 million bpd by 2040, up from 41.2 million bpd in Before he arrived in Singapore on Monday, Li said 2017, while industrial and petrochemical demand is China would further open its economy in the face of rising forecast to reach 23.3 million bpd by 2040, from 17.8 protectionism, though he did not refer directly to China’s that contains significant amounts of hydrogen sulphide million bpd in 2017. All global oil demand growth will bruising trade war with the United States. UAE inks deal and carbon dioxide. Most of UAE reserves are sour-gas. stem from developing economies, led by China and ADNOC will retain 60 percent of the project and is India, while demand in advanced economies is expect- “Rival blocs” looking for another foreign partner to acquire the ed to drop by more than 400,000 bpd on average each Mahathir, a veteran strongman of the region who in with Italy’s Eni to remaining 15-percent stake. year to 2040, the IEA said. May returned to the prime minister’s office he had occu- The new contract comes amid a push by the United The IEA, which advises Western governments on pied for 22 years, told reporters that the United States is boost gas output Arab Emirates to achieve self-sufficiency in gas produc- energy policy, maintained its forecast for the global car “a colonial power” that uses “economic pressure to cow tion and become a net exporter. At present, the Gulf fleet to nearly double by 2040 from today, growing by people”. In his speech, he said “the rise of trade protec- ABU DHABI: State-owned Emirati energy giant state imports a part of its gas requirements from Qatar 80 percent to 2 billion. tionism, resurgent nationalistic movements and inward- ADNOC signed a concession deal with Italy’s Eni yes- through a pipeline. On the supply side, the United States, already the looking policies” seemed to be emerging even among terday for the production of natural gas from an off- Last week, UAE’s supreme petroleum council world’s biggest producer, will dominate output growth ASEAN nations. That was echoed by summit host shore mega project, a statement said. approved investments worth $132 billion over the next to 2025, with an increase of 5.2 million bpd, from cur- Singaporean Prime Lee Hsien Loong, who told a welcome Under the 40-year contract, Eni was granted a 25- five years to boost oil and gas production. On Monday, rent levels around 11.6 million bpd. From that point ceremony for his ASEAN counterparts that “the interna- percent stake in the multi-billion dollar project in the ADNOC signed a cooperation deal with Saudi energy onwards, the IEA expects US oil production to decline tional order is at a turning point”. Hail, Ghasha and Dalma fields, ADNOC said in a state- giant Aramco aimed at bolstering gas production. and the market share of the Organization of the “The existing free, open and rules-based multilateral ment. The project aims at producing some 1.5 billion On Sunday, it granted French major Total an explo- Petroleum Exporting Countries will climb to 45 percent system which has underpinned ASEAN’s growth and sta- cubic feet per day of ultra-sour natural gas by the mid- ration and production concession agreement for uncon- by 2040, from closer to 30 percent today. — Reuters bility has come under stress,” he said, adding that it was dle of next decade, the statement said. Sour-gas is gas ventional natural gas. — AFP unclear if the international order would break up into rival 16 Established 1961
Wednesday, November 14, 2018 What’s On Burgan Bank invites its ‘Youth’ customers for a free coffee at Richards Coffee Bar urgan Bank, in collaboration with “Richards Coffee have to do is present their Youth ATM card to avail the required to maintain it. Furthermore, account holders Bar” is inviting its Youth customers to have a free free coffee. Richards Coffee Bar is situated in Qiblah - receive free prepaid card and an ATM card which entitles Bcoffee on Thursday, November 15th, 2018. Coffee Kuwait City. them to discounts at select merchants and restaurants. To shops and cafes are still considered one of the large hubs The Youth Account is designed for the Bank’s cus- request more information, please follow Burgan Banks for young coffee lovers fitting in with their current tomers between the ages of 15 - 25 years, and seek to official Instagram account @Burganbankkuwait or visit lifestyles. In addition to a wide range of privileges associ- attain an account which represents their current lifestyle your nearest Burgan Bank branch or contact the call cen- ated with the Youth Account, each “Youth” Account holder and helps in planning a successful financial future. There is ter, or as well as by visiting the bank’s website on will be entitled to a free cup of coffee on that day, all they no KD limit to open an account, and no minimum balance www.burgan.com.
Shooting Championship held in Kuwait from Continental honors November 2 to 12. The countries that participated included Syria, Iraq, Japan, India, the Philippines, Bangladesh, Pakistan, Sri Lanka, Bhutan, Kazakhstan, delegates of Shooting Uzbekistan, Turkmenistan, Tajikistan and Kyrgyzstan. The Kuwait Continental Hotel Group welcomed Kamal Championship Hussein, General Manager of Kuwait Continental Hotels, who wished them a good stay in Kuwait as well he Kuwait Continental Hotel Management has as winning the championship. On their part, the heads Theld a prestigious dinner for the guests of the of the participating teams thanked the management of Kuwait Continental Hotel Group who participat- the shooting club and the management of the hotel for ed in the 8th Asian Air Ballistic Shooting and Eleven this gesture and hospitality.
Boursa Kuwait organizes a dedicated ‘Blood Drive’ day uilding on its efforts to give back of their community through this simple to the community, Boursa Kuwait act of charity. The Boursa Kuwait ‘Blood Brecently organized a blood drive, Drive’ initiative witnessed great interest in partnership with the Kuwait Blood from voluntary employee donors, Bank, whereby a full day was dedicated demonstrating the altruistic spirit of its to this initiative to ensure the maximum employees, and their strong belief in the number of employee volunteers were importance of supporting the provision able to participate and donate blood. of adequate blood supplies for those in The ‘drive’ was held at the Boursa need. The Blood Drive is one of a series Kuwait premises. of CSR initiatives that was held by The aim of this initiative was to instill Boursa Kuwait throughout the year, as the sense of social responsibility among part of its commitment to playing an Boursa Kuwait employees, and encour- active humanitarian role in supporting age them to contribute to the wellbeing the community in which it operates.
PAAET organizes vaccination campaign
n collaboration with the Ministry of that PAAET was always keen on Health, The Public Authority for organizing various activities for the IApplied Education and Training best interest of its employees. On her (PAAET) recently organized a winter part, PAAET’s PR and media office vaccination campaign at its headquar- manager and official spokesperson, ters in Fahaheel. Speaking on the occa- Fatima Al-Azmi thanked MOH and all sion, PAAET director, Dr Ali Al- parties that participated in organizing Mudhaf thanked the MOH and stressed the campaign.
Palestinian Cultural Birthday Greetings Center exhibition Brazilian he Palestinian Cultural Center, in cooperation with Happy Birthday music show the Embassy of the State of Palestine in Kuwait, is Berry! Tpleased to invite you to attend our second exhibi- he Embassy of Brazil in Kuwait, in tion of 2018. The motto is “Jerusalem Calls Us” and the appy birthday to Berry, partnership with Dar Al-Athar Al- exhibition will lovingly display Palestinian embroidery, art, our precious gift from Islamia, Jumeirah Messilah Beach and crafts expressing the Palestinian national identity as T Almighty Allah. May Hotel, Flydubai and Burgan Bank, has the well as containing an array of books, ceramics and H Allah bless you with good pleasure to inform you that on Sunday, Palestinian culinary dishes. On the final day, Thursday at health, wealth, love and hap- 18th November 2018, 7:00 pm, the 6:00 pm, the Coral Zaman Band will perform a Palestinian piness forever. The best Brazilian musician group Reco do Dabkeh. All are welcome to join us in solidarity with wishes from your lovely par- Bandolim and Choro Livre will be per- Palestine and its righteous cause. ents, Grand Parents and from forming live at the Yarmouk Cultural Date: Monday 19th, Thursday November 22nd all family members and Center. The show is open to all public Time: 10:00 am - 13:30 pm & 16:30 pm - 20:30 pm friends. and is free of charge. Place: Women’s Cultural and Social Society Khaldiya Block 2, Al-Ourouba Street 17 Wednesday, November 14, 2018
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