Latest news with #MeshalAl-AhmadAl-Sabah
Kuwait Times
14-05-2025
- Kuwait Times
Three jailed for manslaughter over deadly Mangaf fire
Kuwaiti firefighters and security forces gather outside a building which was ingulfed by fire, in Mangaf, on June 12, 2024. More than 35 people were killed and dozens injured in a building fire in an area heavily populated with foreign workers in Kuwait, the interior ministry said. - Photo by Yasser Al-Zayyat KUWAIT: The misdemeanors court on Tuesday sentenced two Kuwaitis and an Egyptian to three years in prison, convicting them of manslaughter over a Mangaf building fire in which 46 Indian and three Filipino workers were killed. The case was treated as a misdemeanor and not a crime by the prosecution since the fire, which also injured dozens of others, was not intentional. The tragedy happened in June last year. The court also sentenced two other men to one year in jail for perjury after lying to the court and jailed four others for giving shelter to a suspect wanted in the case. The six convicts are three Indians and three Egyptians. The rulings are not final as they are expected to be challenged by the prosecution and defense lawyers as well. The fire was the second-deadliest in Kuwait after a fire at a Jahra wedding tent killed 57 people, mostly women and children, in 2009. The fire broke out at dawn in an apartment building housing 196 all-male expat workers. Most of the victims were reported to have succumbed after inhaling smoke as the door leading to the roof was locked by company officials, and as a majority of them were still sleeping. Some of the workers threw themselves from the six-storey building to escape the blaze. An official investigation later said the fire resulted from an electrical short circuit on the ground floor. It spread quickly in the building because of partitions made of inflammable material. HH the Amir Sheikh Meshal Al-Ahmad Al-Sabah ordered cash payments to the relatives of each victim.
Al-Ahram Weekly
13-04-2025
- Business
- Al-Ahram Weekly
El-Sisi begins Gulf tour with Doha visit amid push to revive Gaza ceasefire - Foreign Affairs
President Abdel-Fattah El-Sisi is headed to Doha on Sunday, embarking on a two-leg Gulf tour to revive the stalled Gaza ceasefire and deepen economic and political ties with key regional allies, according to the Egyptian Presidency. In Doha, President El-Sisi will meet Qatari Amir Sheikh Tamim bin Hamad Al Thani to discuss bilateral cooperation and efforts to restore the Gaza ceasefire between Israel and Hamas — brokered by Egypt, Qatar, and the US — unilaterally ended by Tel Aviv on 18 March. The Egyptian president will also meet Qatari business community representatives to explore opportunities for economic collaboration. This is El-Sisi's second visit to Qatar since assuming the presidency in 2014; his first occurred in September 2022. From Doha, El-Sisi will head to Kuwait, where he is scheduled to meet with Amir Sheikh Meshal Al-Ahmad Al-Sabah, Crown Prince Sheikh Sabah Al-Khaled Al-Sabah, and First Deputy Prime Minister, Minister of Interior, and Acting Prime Minister Sheikh Fahad Yousef Al-Sabah. According to the Egyptian presidency, El-Sisi's visit to Kuwait underscores the depth of the strategic partnership between the two nations. In April 2024, Amir Sheikh Meshal Al-Ahmad Al-Sabah made his first official visit to Egypt after assuming the emirship in December 2023. Follow us on: Facebook Instagram Whatsapp Short link:
Jordan News
27-03-2025
- Business
- Jordan News
Kuwait Issues New Law to Regulate Public Borrowing - Jordan News
Kuwait has issued a new law aimed at regulating public borrowing, a long-awaited step as the country prepares to return to global debt markets after an eight-year hiatus. اضافة اعلان In a statement on Wednesday, the Ministry of Finance announced that the new law allows "the issuance of financial instruments with maturities up to 50 years... and sets the public debt ceiling at 30 billion Kuwaiti Dinars (97.36 billion USD) or its equivalent in major convertible foreign currencies." This marks the first such step since 2017 when Kuwait last issued bonds. The approval of the new debt law had been delayed for years due to disputes between the parliament and successive governments, according to Reuters. This development comes under the leadership of Kuwait's Emir, Sheikh Meshal Al-Ahmad Al-Sabah, who took office in December 2023. Less than two months later, the parliament was dissolved, and economic reforms were placed at the top of his priorities to end the long-standing political stalemate. Kuwait operates a parliamentary system that grants the legislative authority the right to approve or reject laws, as well as the ability to question ministers and vote on motions of no confidence. While this gives Kuwait a more democratic foundation than other Gulf countries, it has also led to recurring political deadlock. Commenting on the new law, Monica Malik, Chief Economist at Abu Dhabi Commercial Bank, stated, "This is an important sign of increasing momentum for reform, alongside vital financial development. For investors, this indicates that reforms are finally progressing." Earlier, Kuwait highlighted the necessity of maintaining stability in government spending to control budget growth. The state budget is expected to record a deficit of 5.6 billion dinars (18.33 billion USD) for the fiscal year 2024-2025, with estimated expenditures of about 24.5 billion dinars, according to Reuters. Malik added that "the new debt law will allow for financing diversification, easing pressure on the general reserve fund," noting that the debt will also "support the investment program and will play an important role in the banking sector and credit demand." Malik predicted that the new mortgage law will be the next reform step in Kuwait. It is worth mentioning that Kuwait, the fourth-largest oil producer in the Middle East, is the only Gulf country whose currency is not pegged to the US dollar. It has attributed rising inflation to the decline in the value of the US dollar and its impact on import costs.
