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Sovereign wealth funds out of the Middle East are emerging as key backers of Silicon Valley's artificial intelligence darlings. In the past year, funding for AI companies by Middle-Eastern sovereigns has increased fivefold, according to data from Pitchbook. Few venture funds have deep enough pockets to compete with the multibillion-dollar checks coming from the likes of Microsoft and Amazon . MGX was launched as a dedicated AI fund in March, with Abu Dhabi's Mubadala and AI firm G42 as founding partners. For the U.S., having sovereign wealth funds invest in American companies, and not in global adversaries like China, has been a geopolitical priority.

Persons: Goldman Sachs, Prince Mohammed bin Salman's, Uber, LIV, UAE's Mubadala, MGX, Abu Dhabi's Mubadala, Anthropic, Andreessen Horowitz, Jamal Khashoggi, It's, Bpifrance, WeWork spiraled, Jared Cohen, there's Organizations: United, CNBC, Microsoft, Gulf Cooperation Council, Saudi Public Investment Fund, Abu, Abu Dhabi Investment Authority, Qatar Investment Authority, BlackRock, Global Infrastructure Partners, Saudi, U.S, Saudi Company, Artificial Intelligence, Washington Post, SoftBank, Goldman Sachs Global Institute Locations: Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Pitchbook, Abu Dhabi, Temasek, Singapore, China, UAE

☆ Airbus notched a single order this year for its worst-selling plane
▼ + stars: | 2023-12-03 | by ( Taylor Rains | ) www.businessinsider.com time to read: +6 min

Airbus secured a single order for its worst-selling A330-800neo widebody airliner this year. In April, a single order for the A330-800neo was quietly added to Airbus' order book from an undisclosed customer. A Uganda Airlines Airbus A330-800neo. Air Greenland's Airbus A330-800neo. The few carriers that fly the A330-800 have sung its praisesA Kuwait Airways Airbus A330-800neo.

Persons: —, 800neo, Royce Trent, Thomas Pallini, Richard Aboulafia, Peter Ingram, Jacob Nitter Sørensen, intially, Maen Razouqi Organizations: Airbus, Airlines, Boeing, Service, Business, Uganda Airways, Kuwait Airways, Garuda, Air Greenland, Royce, Uganda Airlines Airbus, Air Greenland's Airbus, United Airlines, Hawaiian Airlines, Kuwait Airways Airbus, Aviation, Uganda Airlines, JFK, Dulles International Locations: Garuda Indonesia, Air, Greenland, Kuwait, New York, Washington , DC

☆ 'Sweeter and sweeter': Souttar racks up 10th goal to save Australia
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Nov 22 (Reuters) - Australia defender Harry Souttar is building a record a striker would be proud of, having headed in a 10th goal from his 21st international against the Palestinian team to save the Socceroos in their World Cup qualifier. The goal was virtually a carbon copy of his fourth minute header in the 7-0 rout of Bangladesh in Melbourne last week, also with Goodwin the provider. It's just getting sweeter and sweeter, obviously." "Probably we didn't play our best, but the most important thing was the three points," he said. Reporting by Ian Ransom in Melbourne; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Harry Souttar, Craig Goodwin, Goodwin, It's, Kuwait's Jaber Al, Australia's, Mat Ryan, Graham Arnold, we've, Ian Ransom, Robert Birsel Organizations: MELBOURNE, Palestinian, Socceroos, World, Australia, Leicester City, Kuwait's, Ahmad, Lebanon, Thomson Locations: Australia, Scotland, Kuwait, Bangladesh, Melbourne, Israel, Gaza

☆ Son bags double for South Korea as top sides win in Asian qualifiers
▼ + stars: | 2023-11-21 | by ( Michael Church | ) www.reuters.com time to read: +4 min

Japan, Australia, Qatar, United Arab Emirates and Saudi Arabia all won, while Kuwait and North Korea scored a flurry of goals en route to victories. Australia and Palestine players stood for a minute's silence ahead of their game, which was played in Kuwait due to the Israel-Hamas conflict. Son was in top form as South Korea completed back-to-back wins at the start of their challenge for a place at the 2026 finals. Players held a minute's silence ahead of kickoff before Souttar scored the game's only goal with an 18th-minute header. Kuwait, meanwhile, thrashed Afghanistan 4-0 away to move into second place in Group A behind Qatar.

Persons: Korea's Son Heung, Min, Tingshu Wang, Ueda, Heung, Son, Yan Junling, Lee Kang, Jung Seung, Yan, Thais, Suphanat Mueanta, Mano Polking's, Ayase Ueda, Hajime Moriyasu's, Jong Il Gwan, Harry Souttar, Kuwait's Jaber Al, Souttar, Oston Orunov, Igor Sergeev, Mohanad Ali, Jesus Casas, Darren Lok, Amadoni Kamolov, Saudi Arabia's Saleh Al Shehri, Jordan, Abdalla, Ali Mabkhout, Michael Church, Angelica Medina, Toby Davis Organizations: Soccer Football, AFC, Shenzhen Universiade Sports Centre, REUTERS, China, Japan, North Korea, Thailand, Singapore, North, Syrians, Syria, Palestine, Ahmad, Iraq, Vietnam, Malaysia, Taiwan, Kyrgyzstan, Qatar, United, Bahrain, Thomson Locations: China, Republic of Korea, Shenzhen, Republic, Korea's, Japan, South Korea, Australia, Qatar, Korea, Myanmar, Syria Australia, Palestine, HONG KONG, United Arab Emirates, Saudi Arabia, Kuwait, North, Israel, Syria, Jeddah, North Korea, Yangon, Australia's, Gaza, Lebanon, Bangladesh, Uzbekistan, Iran, Hong Kong, Turkmenistan, Vietnam, Philippines, Indonesia, Manila, Oman, India, Yemen, Nepal, Tajikistan, Pakistan, Islamabad, Saudi, Afghanistan

Along with mild winter weather in much of the northern hemisphere, Chinese fuel exports helped avert widespread shortages of diesel, heating oil and gasoil. Russia's ban on diesel exports ahead of winter has sparked a new round of concerns of another supply shock. Chinese fuel exports are currently around 1.1 million barrels per day (bpd), down from last year's peak at 1.8 million bpd in December. China's fuel exports are subject to quotas, closely monitored by the global fuel trading community. China also has quotas for imports of crude oil that refiners use to make diesel and other products.

Persons: Meng Meng, John Kilduff, Matt Smith, Al Zour, Kpler, Laura Sanicola, Trixie Yapl, Simon Webb, David Gregorio Our Organizations: REUTERS, Total, Al, Diesel, U.S . East, U.S . Energy Information Administration, Thomson Locations: Boxing, Shandong Province, China, U.S, Ukraine, Europe, Americas, Brazil, Turkey, New York, Beijing, Russia, Iran, Venezuela, Asia, Middle, Western Europe, America, U.S . East Coast

☆ Sheikh Ahmad, brother file cases against IOC at CAS over election
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +2 min

Sheikh Ahmad Al-Fahad Al-Ahmed Al-Sabah leaves a courthouse after the verdict for a trial for forgery in connection with arbitration, in Geneva, Switzerland, September 10, 2021. Sheikh Ahmad was banned from the IOC for three years in July after it found he had an "undeniable impact" on Olympic Council of Asia (OCA) elections in which his brother, Sheikh Talal Fahad Al-Ahmad Al-Sabah, was appointed president. CAS confirmed both Sheikh Ahmad and Sheikh Talal had filed separate cases against the IOC at the Switzerland-based court. Sheikh Ahmad, a former OCA president, travelled to Bangkok ahead of the OCA election in July and was in the city when it took place, which was "interpreted as interference in the election process" by the IOC's ethics commission. Sheikh Ahmad denied all the charges in the case and appealed the conviction.

Persons: Sheikh Ahmad Al, Fahad Al, Ahmed Al, Denis Balibouse, Fahad, Sheikh Ahmad, Sheikh Talal Fahad Al, Ahmad Al, Sheikh Talal's, Sheikh Talal, India's Randhir Singh, Singh, Sheikh Ahmad's, Ian Ransom, Peter Rutherford Organizations: REUTERS, Rights, International Olympic Committee, Sport, Olympic Council of Asia, IOC, OCA, Asian Games, Thomson Locations: Sabah, Geneva, Switzerland, Rights HANGZHOU, China, Fahad Al, Bangkok, India's, Swiss, Hangzhou

Just before 8 p.m. (1200 GMT) on Saturday, Kuwait's Ali Zankawi lined up for one of his throws in the men's hammer final at the eastern Chinese city's packed Olympic stadium. But instead of soaring straight onto the outfield, the hammer flew out sideways and low to the right, smashing into the leg of the sitting technical official. Looking horrified, Zankawi sprinted over as blood began spurting from the official's right leg. The official, Huang Qinhua, 62, grimaced and swayed dizzily as Zankawi rushed to check on him, blood shooting out of the wound. The netting in athletics is designed to hang relatively loosely to prevent hammer balls and discuses from bouncing back at the athletes after misthrows.

Persons: Kuwait's Ali Zankawi, Dylan Martinez, Zankawi, Huang Qinhua, grimaced, dizzily, Huang, Xu Deqing, China's Wang Qi, Martin Quin Pollard, William Mallard Organizations: Olympic Sports Centre, Rights, Asian, misthrows, Weibo, Thomson Locations: Hangzhou, China, Rights HANGZHOU

☆ No phone, no Twitter: 60-year-old Al-Rashidi's secret to gold in shooting
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

Sept 27 (Reuters) - Kuwait's Abdullah Al-Rashidi claimed his fourth Asian Games gold medal in skeet shooting on Wednesday and the 60-year-old said the secret to his longevity and his sharp vision is staying away from the phone and social media. To put Al-Rashidi's age in perspective, Naruka was born in 1998 -- the same year the veteran Kuwaiti shooter won his third world title. I don't look at the phone or Twitter, because this is not good for your eyes. Despite winning gold medals at the world championships and Asian Games, his best result at the Olympics was bronze in Rio and Tokyo. With the Paris Olympics around the corner in 2024, Al-Rashidi said he still has a long way to go before he decides to call it a day.

Persons: Kuwait's Abdullah Al, Rashidi, Anant Jeet Singh Naruka, Naruka, Rohith Nair, Christian Radnedge Organizations: Kuwaiti, Games, Paris Olympics, Olympic, Thomson Locations: Hangzhou, India, Rio, Tokyo, Al, Paris, Bengaluru

☆ Gulf stocks mixed amid rate hike woes; Egypt outperforms
▼ + stars: | 2023-09-24 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +1 min

The Qatari benchmark stock index (.QSI) fell 0.3%, dragged down by almost all the sectors with financials leading the declines. Qatar National Bank (QNBK.QA), the Gulf's biggest lender, was down 0.7% while heavyweight Commercial Bank (COMB.QA) dropped 1.3%. Kuwait's premier market index (.BKP) fell 1.6%, its 7th consecutive session of losses, as most of its constituents were in negative territory. Outside the Gulf, Egypt's blue-chip index (.EGX30), closed up 0.6%, hitting an all-time high. Reporting by Shamsuddin Mohd in Bengaluru; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Shamsuddin, Emelia Sithole Organizations: Federal, Gulf Cooperation, greenback, Qatar National Bank, Commercial Bank, Chemical Industries, Misr Fertilizer, Stock, UAE bourse, Thomson Locations: Abu, Saudi Arabia, UAE, Bengaluru

☆ Kuwait's finance ministry says cyber attack hits one of its systems
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: 1 min

DUBAI, Sept 18 (Reuters) - Kuwait's finance ministry said on Monday that one of its systems had suffered a cyber attack in the early morning but that the ministry continued to work normally. The ministry said in a statement that protection systems and procedures had been activated and "the level of the hacking attempt is being assessed." The salary transfers will not be affected, the ministry added. Reporting by Nayera Abdallah; Editing by Jon BoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Nayera Abdallah, Jon Boyle Organizations: Thomson Locations: DUBAI

☆ Asia's refiners face profit crunch as Kuwait cuts crude exports
▼ + stars: | 2023-08-18 | by ( Muyu Xu | ) www.reuters.com time to read: +5 min

Lower Kuwaiti exports follow cuts from OPEC kingpin Saudi Arabia that have pushed Brent prices close to $90 a barrel and left little wriggle room for Asia's refiners, reliant on the Middle East for more than two-thirds of crude imports. Chinese refiners, which have invested heavily in new plants designed to process sour oil, are especially exposed. Discounted oil from Russia has eased some of the pain, replacing some Kuwaiti supply, largely to China and India. Additionally, Kuwait's joint venture 230,000 bpd Duqm refinery in Oman is scheduled to start operation by end-2023, which could reduce Kuwaiti crude exports by a further 100,000 bpd to 200,000 bpd in 2024, the consultancies said. Formosa could replace Kuwaiti supply with grades such as Iraq's Basra Medium, Qatar's al-Shaheen and Oman crude, Lin said, adding it can also process U.S. light sweet crude.

Persons: Brent, Asia's, Janiv Shah, Sun Jianan, Al Zour, consultancies, KPC, Lin, al, James Forbes, Muyu Xu, Florence Tan, Sonali Paul Organizations: Kuwait Oil Tanker, Oil, Companies, Lower, Saudi, United Arab, Rystad Energy, P, Kuwait Petroleum Corp, Shenghong, Taiwan Formosa Petrochemical Corp, FGE, Dubai, Brent, Thomson Locations: Kuwait, Pier, Companies Kuwait, SINGAPORE, OPEC, Lower Kuwaiti, Saudi Arabia, Russia, China, India, Iraq, United Arab Emirates, UAE, Taiwan, Pakistan, Philippines, Thailand, Oman, PetroChina's, Guangdong, Japan, South Korea, Vietnam, Formosa, Basra, Shaheen, Brent, Dubai

☆ How Saudi Arabia and UAE learned to stop worrying and love Turkey's Bayraktar drones
▼ + stars: | 2023-08-06 | by ( Paul Iddon | ) www.businessinsider.com time to read: +8 min

Saudi Arabia and the UAE have signed multibillion-dollar deals for Turkish drones in recent months. Azeri Ministry of DefenseSaudi Arabia previously showed interest in procuring Turkish drones and securing rights for local production. Bakir told Insider that Turkish drones have gained "global recognition" due to their "affordability, efficiency, and lethal capabilities" and documented successes over modern battlefields. "Moreover, Saudi Arabia could use such capabilities to balance Iran's drone technology in the long run," Ozeren said. Ozeren said the Saudi deal could help Baykar "monopolize" drone technology in Turkey but noted that crucial details about the agreement remain unknown.

Persons: Recep Tayyip Erdogan, Baykar, Abu Dhabi's, Loong, Loongs, Abu Dhabi, Abu, Ali Bakir, Erdogan, Mohammed bin Salman, Murat Kula, Bakir, Suleyman Ozeren, It's, Ozeren, Ali Atmaca, Sheikh Mohammed bin Zayed, Murat Centinmuhurdar, Bashar Assad, Paul Iddon Organizations: UAE, Service, United, United Arab Emirates, Turkey's Baykar Defense, Ministry of Defense, Anadolu Agency, Getty, Dassault Rafales, Ibn Khaldon, NATO, European Union, American University, Orion Policy Institute, Ataturk Airport, Security Initiative, Atlantic Council Locations: Saudi Arabia, Wall, Silicon, United Arab, Turkish, Riyadh, East, North Africa, South Caucasus, Ukraine, Armenian, Ministry of Defense Saudi Arabia, Republic of Turkey, Kuwait, UAE, Saudi, Istanbul, Yemen, Libya, Abu, Turkey, China, France, Qatar, Jeddah, Anadolu, Nahyan, Abu Dhabi

☆ IOC asks Singh to continue as acting head of Olympic Council of Asia
▼ + stars: | 2023-07-30 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +2 min

NEW DELHI, July 30 (Reuters) - The International Olympic Committee has asked India's Randhir Singh to continue as acting head of the Olympic Council of Asia, according to a letter seen by Reuters, after the IOC refused to recognise the Asian governing body's elections. Sheikh Ahmad has denied any wrongdoing. Sheikh Talal was appointed OCA president by a margin of 24 votes to 20 over his fellow Kuwaiti, Husain Al-Musallam. The trial considered whether Sheikh Ahmad had used a bogus Kuwaiti coup plot to gain advantage over political rivals. Sheikh Ahmad denied all the charges in the case and appealed the conviction.

Persons: India's Randhir Singh, Kuwait's Sheikh Ahmad Al, Fahad, Sheikh Talal Fahad Al, Ahmad Al, Sheikh Ahmad, Sheikh Talal, Husain Al, Singh, Sheikh Talal Al, Sheikh Ahmad's, Amlan Chakraborty, Tommy Lund, Ken Ferris Organizations: Olympic, Olympic Council of Asia, Reuters, IOC, OCA, Asian Games, Thomson Locations: DELHI, Fahad Al, Sabah, Bangkok, Singh, Swiss, OPEC, Geneva, Switzerland, Hangzhou, China, New Delhi

☆ Kuwait to set up new sovereign fund to develop mega projects and local economy
▼ + stars: | 2023-07-16 | by ( Ahmed Hagagy | ) www.reuters.com time to read: +2 min

KUWAIT CITY, July 16 (Reuters) - Kuwait plans to establish a new sovereign fund to develop its local economy, spearhead mega projects, and attract funds from foreign investors and the private sector, according to a government plan seen by Reuters on Sunday. The government has tasked the Ministry of Finance and the Kuwait Investment Authority (KIA) with studying plans for the proposed fund, dubbed Ciyada, Arabic for sovereign, the document says. Ciyada Development Fund will be used to spearhead domestic investments, intended to fuel economic development and diversify Kuwait's economy, the document says. Ciyada would accelerate Kuwait's economic growth, promote transformation and progress in various fields of development, through strategic planning and implementation of major development projects, the document says. Abu Dhabi for instance in 2002 created Mubadala Development Co to diversify the emirate's economy and accelerate development.

Persons: Mubadala, Prince Mohammed Bin Salman's, Ahmed Hagagy, Hadeel Al Sayegh, David Holmes Organizations: KUWAIT CITY, Reuters, Sunday, Ministry of Finance, Kuwait Investment Authority, Ciyada, Kuwait Investment Office, Reserve Fund, Fund, Government, International Petroleum Investment Co, Mubadala, Saudi Arabia's Public Investment Fund, Thomson Locations: KUWAIT, Kuwait, Abu Dhabi

[1/3] Cast member Hailee Steinfeld attends the premiere for Spider-Man: Across the Spider-Verse in Los Angeles, California, U.S., May 30, 2023. The UAE Media Council on Monday said on Twitter it "will not allow the circulation or publication of content contrary to the values and principles of the UAE and the standards of media content in force in the country." Several cinema customer service lines did not say why the film was not listed and government bodies in the UAE, Saudi Arabia and Qatar did not immediately respond to requests for comment. In June 2022 the UAE banned Walt Disney-Pixar's animated feature film "Lightyear" from screening because it features characters in a same-sex relationship. The youth and culture ministry said it "violated the nation's media content standard".

Persons: Hailee Steinfeld, Mario Anzuoni, Vox, Majid Al Futtaim, Majid Al Futaim, Gwen Stacy, Abdullah Al, Sami, Walt Disney, Yousef Saba, Lisa Barrington, Andrew Mills, Nafisa Eltahir, Mohammed Benmansour, William Maclean Organizations: REUTERS, United, Vox Cinemas, Vox, Novo, Reel, Reuters, UAE Media, Walt, Thomson Locations: Los Angeles , California, U.S, DUBAI, United Arab Emirates, United States, Gulf, UAE, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, Saudi, Riyadh, Dubai, Doha, Nafisa, Cairo

KUWAIT, June 6 (Reuters) - Kuwait on Tuesday holds its second legislative election in nine months in a bid to resolve a grinding political crisis that has seen parliament repeatedly dissolved and reinstated, hindering economic reforms. Kuwait's last election was in September 2022, when opposition candidates made gains and which was called to replace the 2020 parliament which had been dissolved in a bid to end political bickering. The 2022 vote was nullified in March and parliament was reinstated under its 2020 composition. Frequent political deadlock in Kuwait, the Gulf region's oldest and most lively legislature, has for decades led to cabinet reshuffles and parliament dissolutions. "In terms of moving past this political impasse, political reform is often discussed, but there is little agreement about what type of reform would be best" Freer said.

Persons: state's, reshuffles, Courtney Freer, Freer, Lisa Barrington, Ahmed Hagagy, Bernadette Baum Organizations: National Assembly, Emory University, Monetary Fund, Debt, Thomson Locations: KUWAIT, Kuwait, dissolutions

☆ Kuwait sets June 6 date for legislative elections, state news agency reports
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

KUWAIT, May 3 (Reuters) - Kuwait on Wednesday set June 6 as the date for its legislative elections, state news agency Kuna reported, two days after the Gulf state's parliament was dissolved by royal decree. The parliament was only reinstated in March based on a Constitutional Court ruling following a previous dissolution. The OPEC member has seen prolonged bickering between the government and the elected parliament that has hampered fiscal reforms. The June 6 date was agreed by the council of ministers on Wednesday and referred to Kuwait's Crown Prince, Kuna reported. Crown Prince Sheikh Meshal al-Ahmad al-Sabah had said last month the legislature would be dissolved and new parliamentary elections would be held in the coming months.

☆ Kuwait again dissolves reinstated parliament by decree
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +2 min

DUBAI, May 1 (Reuters) - Kuwait's parliament was dissolved by royal decree on Monday, state news agency KUNA said, having only been reinstated in March based on a Constitutional Court ruling after a previous dissolution. The Gulf Arab state, an OPEC member, has seen prolonged bickering between the government and the elected parliament that has hampered fiscal reforms. Sheikh Meshal, who signed Monday's Emiri decree, was handed most of the duties of the ruling emir, Sheikh Nawaf al-Ahmad al-Sabah, in late 2021. The cabinet had submitted the decree to Sheikh Meshal earlier in the day, according to a previous statement by KUNA. Prime Minister Sheikh Ahmad Nawaf al-Sabah, the emir's son, had in January submitted his government's resignation due to friction with the parliament elected in 2020.

☆ Kuwaiti prime minister selects new cabinet - state news agency
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: 1 min

April 9 (Reuters) - Kuwait's Prime Minister Sheikh Ahmad Nawaf al-Sabah has selected a new cabinet, state news agency KUNA reported on Sunday without giving further details. Sheikh Ahmad was re-appointed as prime minister by the crown prince in March, more than a month after the government resigned due to renewed friction with parliament. Reporting by Hatem Maher; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Standard Chartered agrees to sell business in Jordan
▼ + stars: | 2023-03-26 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +1 min

DUBAI, March 26 (Reuters) - Standard Chartered (STAN.L) plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB) (AJIB.AM), the two parties said on Sunday, as the emerging markets-focused lender presses ahead with plans to exit seven markets in Africa and the Middle East. All Standard Chartered Bank employees in Jordan will be transferred to AJIB, it said an emailed statement. AJIB said the purchase falls within the Jordanian lender's strategy to grow its market share in the country, which continues to grow after it acquired HSBC's banking business in Jordan in 2014 and National Bank of Kuwait's banking business in Jordan in 2022. Standard Chartered in April 2022 said it plans to leave seven markets, consisting of Angola, Cameroon, Gambia, Jordan, Lebanon, Sierra Leone and Zimbabwe. Reporting by Hadeel Al Sayegh, Editing by Louise Heavens and Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

☆ Kuwait court reinstates previous parliament
▼ + stars: | 2023-03-19 | by ( Ahmed Hagagy | ) www.reuters.com time to read: +2 min

KUWAIT, March 19 (Reuters) - Kuwait's Constitutional Court on Sunday ruled that last September's parliamentary election, in which the opposition made gains, was void and that the previous assembly must be reinstated. Kuwait's crown prince last year dissolved parliament and called early polls in an effort to end prolonged domestic political feuding that has hindered fiscal reform. However, Justice Mohammad bin Naji on Sunday said the court had declared that dissolution of parliament as void and had annulled the early elections held in September. "The constitutional authority of the dissolved parliament shall be restored as of the date of this ruling," he told the court session attended by reporters. "Kuwait does not deserve such farces," MP Saleh Ashour said on Twitter after the court ruling.

☆ Kuwait re-appoints Sheikh Ahmad Nawaf al-Sabah as PM - state news agency
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +1 min

KUWAIT, March 5 (Reuters) - Kuwait's crown prince re-appointed Sheikh Ahmad Nawaf al-Sabah as prime minister and asked him to nominate a cabinet, state news agency KUNA reported on Sunday, more than a month after the government resigned due to renewed friction with parliament. Crown Prince Sheikh Meshal al-Ahmad al-Sabah, who has taken over most of the ruling emir's duties, moved last year to end feuding by naming Sheikh Ahmad as premier, dissolving parliament and calling early polls, in which opposition members made gains. Kuwait bans political parties but has given its legislature more influence than similar bodies in other Gulf monarchies. While Kuwait has strong fiscal and external balance sheets, frequent political bickering and institutional gridlock have hampered investment and reforms aimed at reducing its heavy reliance on oil revenues. Reporting by Mahmoud Mourad; Writing by Ghaida Ghantous; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ Kuwait aims to build political cohesion with new amnesty for jailed critics
▼ + stars: | 2023-01-19 | by ( Ahmed Hagagy | ) www.reuters.com time to read: +3 min

KUWAIT, Jan 19 (Reuters) - Kuwait's emir has pardoned dozens of jailed critics under a new amnesty as the Gulf state builds on efforts to end domestic political feuding that has hampered fiscal reforms and as tensions surface between the new government and parliament. The amnesty decreed by Emir Sheikh Nawaf al-Ahmad al-Sabah, published in the Official Bulletin on Wednesday pardoned 34 Kuwaitis, most of them convicted for voicing public criticism. Kuwait bans political parties but has given its legislature more influence than similar bodies in other Gulf monarchies, and political stability in the U.S.-allied country has traditionally hinged on cooperation between the government and parliament. Opposition MP Mubarak Al-Hajraf, who has submitted a request to question the finance minister, in a Twitter post thanked the emir and the crown prince for the "generous amnesty". Reporting by Ahmed Hagagy Writing by Ghaida Ghantous Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

At least 15 U.S. oil refineries plan maintenance ranging from two to 11 weeks through May, tallies by Reuters and refining intelligence firm IIR Energy show. By mid-February, U.S. refiners will drop some 1.4 million barrels per day of processing capacity, double the five-year average, according to IIR. PBF Energy's (PBF.N) Toledo, Ohio, refinery remains largely offline from December, according to two people familiar with the matter. Heating oil margins are $58 per barrel, more than double the year-ago level. U.S. gasoline inventories are 226.8 million barrels, compared to 240.7 million at this time last year, while refinery capacity is 8% lower than before storm Elliott.

☆ Google Cloud to support Kuwait's digitisation drive
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Jan 6 (Reuters) - Google Cloud (GOOGL.O) has formed a strategic alliance with the Kuwaiti government to support digitisation efforts across the country's public sector, the company said on Friday. Most Gulf states are investing significantly in digital technologies across the government sector to improve efficiency and make public services easier to access online, and as a way to diversify oil-dependent economies. Google Cloud did not provide a value for the agreement with the Kuwaiti government, but said it would encompass digitising government services, migrating and storing national data securely on the cloud and setting up a national digital skills programme. The company aims to invest in a cloud region in Kuwait, its third announced in the Middle East after Qatar and Saudi Arabia, and said it plans to open an office on the ground without specifying a timeframe. There is increasing competition for developing cloud services in the region among international players, with Chinese firms such as Huawei also vying for lucrative government contracts as part of Gulf national economic transformation plans.

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