Issues between Iraq, Kuwait solved by commitment – Iraqi FM
Source: Kuwait News Agency (Read full story)
All of Iraq’s outstanding issues with Kuwait have been resolved as result of the commitment[s] of both and it will carry out all of its commitments in 2015, Foreign Minister Hoshyar Zebari said on Monday. … These commitments include POWs, missing individuals, compensations or borders, he added. Through joint committees, both sides reached MoUs and agreements that have been presented to the United Nations due to Iraq’s commitment to international legitimacy, he said. An agreement to jointly administer Khor Abdullah waterway has been signed, and this is an important achievement, along with the demarcation of land borders, while Iraq’s exit out of Chapter VII of the UN Charter and the shift of the humanitarian issue (POWs, missing individuals and archives) from Chapter VII to Chapter VI are two of the most important steps in cooperation.
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Arabs, Africans need focus on sustainable human development
Source: Kuwait News Agency (Read full story)
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The two regions are combined by cultural, social and geographic proximity and this can aid their plans for cooperation, suggested Gulf Cooperation Council Secretary General Abdullatif Al-Zayani.
As they possess huge financial, natural and human resources, this strengthens the need for further partnerships, much to the support of the Gulf Arab geopolitical bloc. The Arab Parliament chief Ahmed Al-Jarwan stressed the need to encourage investment opportunities and to tackle unemployment and illegal migration. The importance of mechanisms devoted to development programmes on the economy, health, education, culture, technology and energy spectrums and women’s empowerment were other issues he said should be addressed.…
King: Raids must reach labor target
Source: Arab News (Read full story)
Custodian of the Two Holy Mosques King Abdullah has instructed labor and security agencies to continue their campaign to clear out all illegals workers from the country, Prince Muhammad bin Naif, the interior minister, said on Tuesday. “King Abdullah appreciates the efforts of security officials and other government agencies to apply the law against residency and labor violators,” said Prince Muhammad while chairing a meeting of the country’s security agencies. “The king has also praised the positive results of the campaign.” The minister said more than 60,000 undocumented expats have left the Kingdom. “The papers of many others in shelter centers are being processed to deport them.”
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Qatar has the lowest break-even oil price in region: Moody’s
Source: Gulf Times (Read full story)
Qatar, which enjoys the “highest” sovereign ratings in the Middle East and “sound” external position, has the lowest break-even oil price in the Gulf region, according to global credit rating agency Moody’s. Qatar’s vast oil and gas resources, robust non-hydrocarbon growth, a high per capita income, and persistent surpluses in fiscal and external accounts support its highest sovereign ratings, Moody’s said in a latest note. The country’s ‘Aa2’ foreign and local-currency government bond ratings stand along with similar ratings of Kuwait (‘Aa2’ stable) and the UAE (‘Aa2’ stable). Credit strengths are derived from the monetisation of Qatar’s extensive oil and gas reserves, resulting in an exceptionally high GDP (gross domestic product) per capita and robust external payments position, it said.
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Saudi Gulf Airlines set to enter domestic market
Source: Arab News (Read full story)
Saudi Gulf Airlines is gearing up to enter into the Saudi domestic market in the winter of 2014. This will be the fourth domestic airline operating in the Kingdom after Saudi Arabian Airlines, flynas and Al Maha of Qatar Airways. The Dammam-based Abdel Hadi Abdullah Al-Qahtani & Sons Group of Companies (Tariq A.H. Al-Qahtani & Bros.) recently announced the launch of Saudi Gulf Airlines following the approval of the General Authority of Civil Aviation (GACA) in Saudi Arabia for the carrier to operate regular domestic, regional and international flights pending the granting of an air carrier operating certificate to the wholly-owned Saudi company. Saudi Gulf Airlines plans to operate three to four daily flights, beginning with the winter schedule of 2014 to Jeddah and Riyadh departing from Dammam airport.
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GCC investor confidence in Egypt grows
Source: Arab News (Read full story)
Against a backdrop of rising investor confidence, a group of leading international investors will attend a major investment forum in Cairo on Dec. 4-5. The organizers will also welcome distinguished delegates from Egypt, the GCC and the wider global economy. Together they will provide a platform to establish clear solutions for how to progress amid the challenges of the current economic environment. The forum is the next step toward further strengthening economic relations between Egypt and the GCC countries. The two-day forum will open with remarks from Sultan Ahmed Al-Jaber, minister of state of the UAE and Osama Saleh, minister of investment of Egypt. In addition, keynote addresses will be given by Egypt’s Prime Minister Hazem El-Beblawi and Deputy Prime Minister Ziad Baha El-Din.
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