RAMADAN 20, 1439 AH TUESDAY, JUNE 5, 2018 Max 44º 28 Pages Min 29º 150 Fils Established 1961 ISSUE NO: 17550 The First Daily in the Arabian Gulf www.kuwaittimes.net Kuwait’s expat remittances Duterte stirs controversy At war’s doorstep, Yemen 3 dropped 13% in 1st quarter 6 by kissing woman on lips 21 180 equestrians ride high IMSAK 03:04 FAJR 03:14 DHUHR 11:47 ASR 15:21 MAGHRIB 18:45 ISHA 20:16 Saudi Arabia issues its first driving licenses to women Saudi lifts its decades-long ban on female drivers RIYADH: Saudi Arabia yesterday began issuing its first ous driving experience in Lebanon and Switzerland. 2017, the government said it would lift the ban as part of IN MY VIEW driving licenses to women in decades, authorities said, In preparation for the lifting of the ban, Saudi Arabia ambitious economic and social reforms pushed by just weeks before the historic lifting of the conservative last week passed a landmark law to criminalize sexual Crown Prince Mohammed Bin Salman. He visited the kingdom’s ban on female motorists. Ten Saudi women harassment, introducing a prison term of up to five years United States - seeking investments to help broaden the Kuwait sovereign swapped their foreign licenses for Saudi ones in multiple and a maximum penalty of 300,000 riyals ($80,000). economy and lessen its dependence on oil. cities, including the capital Riyadh, as the kingdom pre- Saudi Arabia, the only country in the world where Saudi Arabians are avid consumers of Western media issuance: The fund pares to end its ban on June 24. women are not allowed to drive, has long faced global and culture. Despite the cinema ban, Hollywood films The move, which follows a government crackdown on criticism for what is seen as oppression of women. But and recent television series are widely watched at home women activists, is part of a much-publicized liberaliza- Prince Mohammed, who recently undertook a global and discussed. AMC’s first cinema will be located in the manager’s view tion drive launched by powerful Crown Prince tour aimed at reshaping his kingdom’s austere image, King Abdullah Financial District in a building originally Mohammed Bin Salman as he seeks to modernize the has sought to break with long-held restrictions on intended to be a symphony concert hall, AMC Chief By Philipp Good petro-state. “Ten Saudi women made history on women. The self-styled reformer has also ended a Executive Adam Aron said in an interview. The main the- Monday when they were issued driving licenses,” said decades-long ban on cinemas, allowed mixed-gender atre will have about 500 leather seats, orchestra and e think it is the Information Ministry’s Centre for International concerts and clipped the powers of the long-feared reli- balcony levels and marble bathrooms, he said. Three very likely that Communication (CIC).” Expectations are that next week gious police. more screens will be added by mid-summer. “We think WKuwait will an additional 2,000 women will join the ranks of Saudi Arabia’s first cinema in more than 35 years it’s going to be the prettiest movie theatre in the world,” offer sovereign debt to licensed drivers in the kingdom.” opened on April 18 in Riyadh, the capital after agreeing Aron said. “It’s a dramatic building.” international markets in The official Saudi Press Agency said the swap came with AMC Entertainment Holdings to open up to 40 To serve a population of more than 32 million, most the third quarter of 2018, after women applicants were made to undergo a “prac- theatres over the next five years. Movie theatres are not of whom are under the age of 30, Saudi Arabia wants to once Ramadan and the tical test”, but it did not offer details. “It’s a dream come be segregated by gender like most other public places set up around 350 cinemas with over 2,500 screens by summer vacations are true that I am about to drive in the kingdom,” Rema in the deeply conservative Muslim kingdom, and the first 2030, which it hopes will attract nearly $1 billion in over. And we are looking Jawdat, one of the women to receive a license, was screening was Marvel’s superhero movie “Black annual ticket sales. “The restoration of cinemas will ... forward to it. Kuwait is quoted as saying by the CIC. “Driving to me represents Panther,” a source said. help boost the local economy by increasing household probably one of the having a choice-the choice of independent movement. Saudi Arabia had some cinemas in the 1970s but its spending on entertainment while supporting job cre- strongest, if not the Now we have that option,” added Jawdat, an official at powerful clerics closed them, reflecting rising Islamist ation in the Kingdom,” Culture and Information Minister strongest, sovereign credits in the Middle East, the Ministry Of Economy and Planning who has previ- influence throughout the Arab region at the time. In Awwad Alawwad said in a statement.— Agencies so as an issuer it has considerable pricing pow- er. While to some extent, positive Emerging Market (EM) sentiment has faded as a result of rising US yields, the stronger names will still be Ramadan Kareem able to successfully tap the market - and one of ‘Guidelines’ for those is Kuwait. The backdrop to this scenario is that Kuwait has deployment of Guard your tongue (1) delivered a new budget and parliament has approved raising the debt ceiling to KD 25 billion, from KD 10 billion. The country has maintained a Filipino workers By Hassan Twaha Bwambale positive and stable credit profile among the major By Ben Garcia t is worth realizing that everything Allah (to rating agencies, with one of the strongest factors in Whom belongs all might and majesty) com- support of its ratings being the substantial FX (for- KUWAIT: Four months after Kuwait-Philippines Imands us to do is to our benefit. Therefore, it eign exchange) assets held by the Kuwait diplomatic ties almost hit a crisis level, the new guide- is imperative to obey Him and His Messengers. Investment Authority (KIA) - of over $580 billion. lines for the deployment of domestic helpers to Kuwait Moreover, we should well understand that what- The country benefits from good governance and was finally announced yesterday. But there seems to be ever Prophet Muhammad (PBUH) advises us to do conservative fiscal policies, with increased oil pro- no substantial changes as to the welfare of tens of KUWAIT: Philippine Charge d’Affaires Noordin Lomondot is significant and beneficial to us in all aspects of duction and increased public spending on infra- thousands of Filipino women in Kuwait. Most of the (right) announces the resumption of the deployment of our lives. structure, in line with the Kuwait National provisions in the memorandum of agreement which was domestic workers to Kuwait as Rustico dela Fuente (center) Among Prophet Muhammad’s (PBUH) instruc- Development Plan, likely to support growth in 2018. recently signed were mostly mentioned in the prevailing and Ma Teresa Olgado look on. — Photo by Ben Garcia tions is to be keen to do and say whatever is bene- GDP growth from 2019-21 is predicted to exceed 3 Kuwait’s domestic labor law. ficial to us. Before doing and saying anything, ask percent, supported by increased oil output from 2.7 Yesterday, the Philippine Overseas Employment These guidelines were announced at the Philippine yourself, “How do I benefit from it?” If you don’t million barrels/day (current) to 3 million barrels/day Administration (POEA) issued the guidelines for the Embassy by the Philippine Consul General to Kuwait perceive any benefit, then abstain. Prophet in 2021. At present, a sovereign rating downgrade resumption of deployment of Filipino domestic workers. Continued on Page 24 Muhammad (PBUH) tells us what can be translated looks very unlikely, although potential risks cited as: “... be keen to do what benefits you, seek Allah’s include undiversified government income and rising assistance, and do not despair ...” (Saheeh Muslim regional political tension. OPEC’s oil production cuts # 2, 664) have also had some impact on Kuwait’s GDP growth. The tongue is a double-edged sword; if you use it in worshiping Allah (SWT), it will accrue to you a Why is Kuwait attractive? lot of blessings and rewards. But if you use it in acts Firstly, it has solid fundamentals. With a relatively of disobedience, then it will result in evil conse- low fiscal breakeven for oil at $56/bbl, and AA rat- quences for you. Allah (SWT) tells us what can be ings with both S&P and Fitch, this is a robust credit. translated as: “Have We not made for him (a human- Kuwait’s ratings should be safe at current oil price being) two eyes, a tongue and two lips? And guided levels, with Fitch writing that the potential negative him to the two highways of right and wrong.” (Al- impacts would be ‘erosion of fiscal and external Balad 90: 8 - 10) positions’. This implies a focus almost exclusively on According to some scholars, nine tenths of the oil price and associated negative credit events, and sins that are committed are committed by the we are confident that it is stable for now. tongue or by its help. Therefore, it is our responsi- With limited chance of an adjustment to ratings, bility to learn how to use our tongues positively and Kuwait is therefore an appealing investment grade to discipline ourselves on that. Otherwise, we will be play. Since the sovereign cannot at present issue in trouble here in this world and in the hereafter.