Kuwait pulls cleric off TV for sectarian comments

Source: Kuwait Times (Read full story)

Kuwait’s government officials yesterday pulled a prominent cleric off television over previous comments they say stoked sectarian tensions and promoted an Al-Qaeda-linked rebel group in Syria. Shafi Al-Ajmi’s show, “Following the Path of the Prophet,” premiered Monday on state television in Kuwait. Information Minister Salman Al-Homood said that the show had been cancelled and that an investigation had begun into determining those responsible for putting the cleric on the air.“The Ministry of Information does not approve of airing episodes for any individuals who instigates hatred and promotes such rhetoric,” Al-Homood told journalists.

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GCC inflation to stabilize to 3% in near term: Study

Source: Saudi Gazette (Read full story)

GCC inflation is forecast to stabilize at a moderate level around the three percent mark in the near term as higher increases in housing costs are offset by lower food price rises, QNB Group report said. “Overall, inflation in the GCC is likely to stabilize at around three percent,” QNB Group said. Strengthening non-oil growth and expanding populations will give prices, particularly rents, some upward impetus. “However, this is likely to be counterbalanced by falling global food prices, which will make food imports cheaper and hold back inflation. Additionally, oil prices are expected to be slightly lower in 2014, which tends to ease inflationary pressures in the GCC as it results in less oil revenue flowing into the economy, weakening demand.”

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Rising demand for renewable energy in Mena

Source: The Peninsula (Read full story)

Steady economic and population growth,associated with rapid urbanisation, has led to an increase in energy demand to meet rising electricity and desalinated water needs in the Middle East and North Africa (Mena) region. The Mena Renewables Report published recently by the International Renewable Energy Agency (Irena) and Renewable Energy Policy Network for the 21st Century (REN21), estimates that investments worth $145.7bn will be needed for power generation from 2013 to 2017 in the Mena region. Of which, investments worth $63.1bn will be in the GCC, $21.4bn in Iran and approximately $53bn in the combined other countries of the region.

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Qatar Amir in Saudi for first foreign trip

Source: Khaleej Times (Read full story)

Qatar Amir His Highness Shaikh Tamim bin Hamad Al Thani landed in Saudi Arabia on Friday on his first foreign foray since acceding to the throne in June, state news agency SPA said. Shaikh Tamim flew in to the port city of Jeddah and will meet the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz, and perform the Umrah pilgrimage to nearby Makkah, Islam’s holiest site, the agency said. The Saudi monarch is also currently in Mecca where he will celebrate the Eid, SPA said. The 33-year-old Shaikh Tamim came to power on June 25 following the abdication of his father, Shaikh Hamad bin Khalifa Al Thani, an unprecedented event in the Arab world.

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Two petitions filed against poll results

Source: Kuwait Times (Read full story)

Petitions against the results of parliamentary election began rolling yesterday with two candidates challenging the results as head of the judicial committee that supervised the polls insisted the election process was seamless. Candidates from the Fifth Constituency former MP Abdullah Mahdi Al-Ajmi challenged the results in his constituency on the grounds that his name was not printed on the list of candidates in the districts and that judges supervising the process had to write his name on the list. Newcomer Saud Al-Subaie also challenged the outcome on the basis of allegations that there were irregularities in counting the votes that allotted some of his votes to other candidates.

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Cabinet resigns, new Assembly meets Aug 6

Source: Kuwait Times (Read full story)

The Cabinet yesterday submitted its resignation to HH the Amir Sheikh Sabah Al-Ahmad Al-Sabah following the National Assembly election as required under the Kuwaiti constitution. The announcement came after the Cabinet held an extraordinary session to assess the outcome of the polls. It also approved an Amiri decree setting Aug 6 as the date for the Assembly to convene for the first time. The Amir later in the day issued the decree.

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Moody’s downgrades subordinated debt ratings of 12 GCC banks

Source: The Peninsula (Read full story)

Moody’s Investors Service yesterday downgraded the subordinated debt ratings of 12 banks in the Gulf Cooperation Council (GCC) countries, including Qatar.The affected banks in Qatar are Commercial Bank of Qatar, Doha Bank QSC, Qatar National Bank and the UAE-based Mashreqbank PSC. The other GCC banks are Arab National Bank, Banque Saudi Fransi, Abu Dhabi Commercial Bank PJSC, Emirates NBD PJSC, First Gulf Bank, Burgan Bank SAK, Bank Muscat SAOG and BBK BSC. Moody’s  downgrading of the subordinated debt ratings of the banks (by one to three notches) reflect the heightened risk of the imposition of losses on these instruments.

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Arab League backs Kerry’s push to revive Mideast talks

Source: Gulf Times (Read full story)

The Arab League endorsed the drive to relaunch Palestinian-Israeli peace negotiations led by US Secretary of State John Kerry, who said gaps between the sides had been greatly narrowed. The encouraging rhetoric after Kerry met an Arab League delegation and Palestinian President Mahmoud Abbas in Jordan yesterday suggested that Kerry, on his sixth such peace mission to the Middle East in as many months, might have found a path to ending an almost three-year deadlock. The main sticking point has been Israel’s continued building of settlements on occupied land where Palestinians want to found a state. Israel approved new settlement yesterday.The 22-nation League also confirmed a recent compromise on its 11-year-old peace proposal to Israel; it said old borders could be redrawn.

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