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TUESDAY, FEBRUARY 25, 2014
www.kuwaittimes.net
RABI ALTHANI 25, 1435 AH
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Egypt govt resigns ahead of election Move paves way for Sisi to run
KUWAIT: HH the Amir Sheikh Sabah Al-Ahmad Al-Sabah (right) meets HH the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah as he left for New York yesterday to undergo routine medical tests. — KUNA
New visit visa type in works
CAIRO: Egypt’s military-installed government resigned en masse yesterday in a surprise move ahead of a presidential poll likely to bring defence minister and army chief Abdel Fattah Al-Sisi to power. A limited reshuffle to allow Sisi to step down as defence minister and enter elections had been expected, but the en masse resignations led by the increasingly unpopular prime minister Hazem Al-Beblawi surprised even some in the cabinet. Appointed in July after the military ousted Islamist president Mohamed Morsi, Beblawi’s government came under pressure to step aside amid a worsening economy and a spate of militant attacks and labour strikes. The resignations might lead to a new cabinet without the baggage of Beblawi’s government ahead of Sisi’s expected run in the presidential election this spring. Sisi, who emerged
as the country’s most popular political figure after ending Morsi’s divisive one-year rule, has not yet announced his candidacy, but aides say he has already decided to run and will make the announcement soon. The field marshal, who is the defence minister and first deputy prime minister in the outgoing cabinet, has to resign from the government and the army before he can officially announce his candidacy. Beblawi defended the government’s performance in an address announcing the resignations. “The government assumed its responsibilities and duties... the government did not spare any efforts to get Egypt out of a bad phase,” Beblawi said in reference to the security and economic problems. “This is not the time for personal interests. Continued on Page 13
Yanukovycc sought for ‘mass murder’
By A Saleh KUWAIT: The Ministry of Social Affairs and Labor announced a new type of work visa for visitors valid for a few days that allows a foreigner to carry out a specific task and which cannot be transferred into a residence visa. The visa, called ‘work visit visa’, while be different from the traditional ‘commercial’ visit visa that is valid for a month and can be renewed for three months. Visa transfer is currently closed while reports suggest that foreign recruitment will be reopened at the beginning of April. Meanwhile, chairman of the National Assembly’s human rights committee MP Faisal Al-Duwaisan demanded that the government discuss a comprehensive report on human rights with panel members before it presents it to the United Nations Human Rights Council (UNHRC) in Geneva on Oct 27, 2014. “The government is constitutionally obligated to discuss this issue with the legislative authority since it tackles a domestic issue despite the fact that the report is sent to a foreign organization,” Duwaisan said in a statement yesterday. “Furthermore, the UNHRC had requested that Kuwait’s delegation includes members from the parliament and the judicial authority.” Duwaisan also announced that the committee prepared a report “that points out the government’s failure to address faults mentioned in the UNHRC’s 2010 report”.
TO OUR READERS Kuwait Times offices will be closed today on the occasion of National Day. Hence there will be no issue of the paper tomorrow (Feb 26, 2014). Happy holidays!
Hazem El-Beblawi
MEERUT, India: A leopard squeezes through a hole in the wall of the Meerut Cantonment Hospital as a policeman approaches on Sunday. — AFP
Leopard in Indian city triggers panic NEW DELHI: A leopard sparked panic in a north Indian city when it strayed inside a hospital, a cinema and an apartment block while evading captors, an official said yesterday. Authorities closed schools and colleges in Meerut, 60 km northeast of the Indian capital, after the leopard was discovered prowling the city’s streets on Sunday, a senior city official said. “Despite our best efforts, we have been unable to track the leopard down. We have launched a massive hunt for the beast,” said additional district magistrate
S K Dubey. The cat was found inside an empty ward of an army hospital on Sunday before wildlife officers were called and managed to fire a tranquiliser dart into it, Dubey told AFP. “But despite that he managed to break (out through) the iron grilles and escaped. He then sneaked into the premises of a cinema hall before entering an apartment block. After that we lost track of the cat,” he said. Continued on Page 13
KIEV: Ukraine issued an arrest warrant yesterday for its ousted pro-Russian president over “mass murder” and appealed for $35 billion in Western aid as Moscow denounced Kiev’s new reformist team as illegitimate. The dramatic announcements by the ex-Soviet nation’s untested but enthusiastic Western-leaning ministers approved by parliament over a chaotic weekend that saw president Viktor Yanukovych go into hiding - came as a top EU envoy arrived in Kiev to buttress Ukraine’s sudden tilt away from Russia. Three months of relentless protests over Yanukovych’s shock decision to spurn an historic pact with the European Union in favour of closer ties with its old masters in the Kremlin culminated in days of carnage last week in Kiev that claimed almost 100 lives. Russia reacted with outrage to the “mutiny” in a country with centuries-old roots to Moscow that President Vladimir Putin views as an integral part of an economic and possibly even military - alliance counterweighting the EU and NATO blocs. But Western powers have been cautiously throwing their weight behind the overthrow of a democratically elected leader by a parliamentary action whose constitutional legitimacy remains open to debate. Ukraine’s new leaders hit the ground running on Monday by holding Yanukovych and about 50 other senior state and security officials responsible for the protester deaths. “A criminal case has been launched over the mass murder of peaceful civilians. Yanukovych and a number of other officials have been put on a wanted list,” acting interior minister Arsen Avakov said in a statement. Avakov said Yanukovych had tried to flee the country Saturday out of the eastern city of Donetsk - his political power base and bastion of pro-Russian support - before escaping to Crimea with a team of guards and a cache of weapons the next day. He said the deposed head of state and his powerful administration chief Andriy Klyuev had since “travelled by three cars into an unknown direction, having first switched off their modes of communication”. Ukraine has been reeling from both political and financial crises that have seen the nation of 46 million face the threat of splintering between its pro-Western and more Russified regions and having to declare a devastating default. Continued on Page 13
Dodgy data obscures reality of Gulf boom
KUWAIT: A giant Kuwait flag is displayed at 360 Mall yesterday to mark the national and liberation days. — Photo by Yasser Al-Zayyat
DUBAI: Saudi Arabia’s economy chugged along at modest annual growth rates of around 2.5 percent in the first three quarters of 2013. Then in the fourth quarter it soared, with gross domestic product jumping 10 percent from a year earlier. That is the picture delivered by data from the government’s statistics office. But it is not a picture which would be recognised by many Saudi companies, which saw their profits crimped by a crackdown on illegal workers late last year, and it is not in line with private surveys of business activity. So many economists have concluded that the official data is faulty in some way, and that actual Saudi GDP in the fourth quarter may be billions of dollars lower than the statistics office suggests. But it is not clear when, or whether, the mystery will be solved. As the wealthy Gulf Arab oil exporters boom and open wider to foreign investment, investors are operating in something of a fog: they must base their judgements on patchy and erratic macroeconomic data. In many cases the data is less reliable than numbers provided by emerging economies in Asia and Africa. In the Gulf, preliminary figures for economic indicators can be off the mark but revisions may occur only many months later, if at all. Release times are irregular;
Bahrain has not announced its monthly money supply data since November. Some data series have been suspended for a few months before resuming. Other data just does not exist. Kuwait, for example, does not regularly publish GDP growth figures, making it almost unique among the world’s rich countries. Because of the region’s oil wealth, economies have so far grown without many visible ill effects. But the costs of having such poor data may increase as the Gulf states develop their financial markets and diversify their economies in an effort to become less vulnerable to the next big drop in oil prices. “The regional central banks have to understand that timeliness and consistency, and scientific production of data, are a necessity if they want to show they are open for investment and business,” said John Sfakianakis, chief investment strategist at MASIC, a Riyadh-based investment firm. A lack of reliable figures for government spending can hurt investment because many firms base their decisions on the level of that spending, he added. Abu Dhabi, which accounts for some 70 percent of state spending in the United Arab Emirates, does not publish its annual budget plans in a comprehensive manner. Continued on Page 13