ON IP TI SC R SU B
THURSDAY, OCTOBER 6, 2011
India launches ‘world cheapest’ tablet computer
Ivanovic dumps Zvonareva out of Beijing
150 FILS
27
20
Protesters call for govt to quit, want action on graft
40 PAGES
NO: 15231
www.kuwaittimes.net
THULQADA 8, 1432 AH
Saadoun blasts ‘corruption pigs’, vows to oust govt By B Izzak
conspiracy theories
Are protests a way of life now?
By Badrya Darwish
badrya_d@kuwaittimes.net
I
just returned from a 10-day trip abroad to find chaos engulfing the country in a mysterious way. What’s happening in Kuwait? Why all these demonstrations? I don’t denounce demos. They are a healthy sign of democracy in any modern nation. People have the right to hit the streets and protest peacefully if something is not right in the system. Kuwait is not alone. Demonstrations are erupting across the Arab World as part of the so-called Arab Spring. But the way I see it, this spring is turning into a severe winter. The Arab Spring started in Tunisia, spread into Egypt, Yemen, Bahrain and Syria, and now it has reached the rest of the oil-rich Gulf nations. On Tuesday, protests took place in Saudi Arabia. Let alone Kuwait. The countries I mentioned have serious issues which force the people to come out in anger and protest for months, regardless of the results. These countries were ruled by dictators, and they suffered poverty and rampant corruption. But what’s wrong in Kuwait. There’s corruption here too, I don’t deny it. We should come out and protest to correct things. But our demos lately have become ridiculous and without any serious reasons. This is leading to a state of chaos, for which I blame both the government and the MPs. It looks like every other group agrees with each other to take to the streets tomorrow. As I was writing this piece and discussing the demos, my friend told me he had news that students in his son’s school will demonstrate today in front of the Ministry of Education. Jokingly, I asked him if they were rallying in support of the MPs involved in the multimillion-dinar deposits scandal. He laughed and said no, it has nothing to do with money or politics. They will march in protest over the way the evaluation system has been changed to give theoretical tests more weight over oral tests. So they were advised by their teachers to demonstrate in front of the ministry. Isn’t this a joke? Of course students will love this, since they will get to miss class for a day. Just imagine, there are many examples like this. Demos are becoming a fashion, or trend, or even a way of life in the Arab world - with a fancy name like “Arab Spring”.
Max 36º Min 25º Low Tide 00:03 & 13:46 High Tide 05:18 & 20:35
KUWAIT: People gather for an anti-graft protest opposite the National Assembly yesterday. (Insets) MPs Ahmad Al-Saadoun and Khaled Al-Sultan address the crowds. — Photos by Yasser Al-Zayyat
KUWAIT: Speakers at a protest yesterday called for dismissing the government and the prime minister over an alleged corruption scandal and warned that failure to act could “widen the gap between the people and the regime”. At the second anticorruption rally attended by 3,000-4,000 protesters, MP Musallam Al-Barrak bluntly accused the government of paying millions of dinars in bribes to at least 11 MPs to win their votes in a bid to rescue the prime minister and other ministers who faced no-confidence votes following grillings. Islamist Salafist MP Khaled Al-Sultan described the corruption case as “an unprecedented crime that must not pass without punishment”, saying that he believes the number of MPs involved in corruption will rise and that the amount of money involved will “be at least KD 80 million”. Sultan demanded that all people should know the names of MPs who received the money, the side that paid and the source of the funds, adding that “it is not logical to believe that the Central Bank does not know”. He also called for forming a parliamentary investigation committee in order to reveal the MPs involved and the source of the money, calling for a united action to force the government and the prime minister to leave. Former MP Mohammad Al-Khalifa of the Popular Action Bloc appealed to HH the Amir to take action against corrupt elements, saying that this government has taken Kuwait to catastrophe. “All the governments in the world fight against corruption except our government,” Khalifa said. Azzam Al-Omaim, representative of the Democratic Forum, said the corruption case is a massive scandal, a state security crime and a political graft case. Continued on Page 13
Market fretting over regulator KUWAIT/DUBAI: Kuwait’s stock market regulator, touted as the saviour of an exchange plagued by a lack of transparency, has created disarray with new rules and management missteps that have pushed the share index to seven-year lows and prompted staff of the bourse to threaten a strike. The Capital Markets Authority (CMA) was formally launched in March, more than 30 years after the Kuwait Stock Exchange was established. It is meant to provide a steadying hand for the Gulf’s third largest stock market in terms of capitalisation, after Saudi Arabia and Qatar. Instead, it has been beset with problems, including controversy over reports in Kuwaiti newspapers last month saying three of its five original commissioners had been removed, allegedly for holding other jobs in violation of CMA regulations. This raised questions about whether rules enacted under their tenure would be binding, after the trade ministry said such decisions were void. The CMA, which declined to comment, has not announced any removal of commissioners and has been reluctant to make public statements. Analysts and traders say the uncertainty puts the CMA’s credibility on the line. “The first issue is that there is little definition of policy - there’s a lack of clarity within the policies themselves,” said a Kuwait-based trader who asked not to be identified because of the sensitivity of the issue. “The CMA was established after a lot of the new laws were announced and have yet to be enforced, so investors don’t know whether they are doing things against the law or not. Will the new rules be retrospectively applied?” Kuwait’s market is known for lax rules on what infor-
mation companies must disclose, and local newspapers are full of unsourced reports that move stocks but prompt no response from company officials. Trading in Kuwait has long been dogged by traders’ claims that big shareholders can manipulate prices. With the creation of the CMA, Kuwaiti financial institutions anticipated major reform to level the playing field and help attract new investors. Regulatory changes have included limits on ownership of stocks to discourage manipulation, and protections for minority shareholder rights when large stakes in companies are acquired. “Generally, the CMA is a positive step, and we needed this healthy transformation,” said Hamad Al-Hamidi, director of funds at National Investments Co. “But part of the problem is the short period of time given for the implementation of the rules. And what accompanies it the drop we are seeing in the stock market.” The main Kuwait stock index has fallen about 16 percent in 2011; only Bahrain and Oman, both of which have seen political unrest this year, have fared worse in the Gulf. Kuwait’s trading volumes have also plunged. Last year Kuwait was often the most active Gulf market in terms of the number of shares traded daily, edging out Saudi Arabia, but daily volumes are down by nearly half this year compared to 2010. The CMA has found it difficult to attract suitable people for key positions, and to establish new trading rules and communicate them to investors, many of whom now worry about being prosecuted for practices they once considered normal. “Investors are worried about this new Big Brother approach - what counts as manipulation and what is acceptable?” said the trader. Continued on Page 13
Pak panel quizzes bin Laden’s family
Bahrain jails 19 Shiites over attack
Israel bombing killed captives in Lebanon
Crystal clarity wins Israeli chem Nobel
ISLAMABAD: An independent Pakistani commission investigating the U.S. raid that killed Osama bin Laden questioned three detained widows and two daughters of the slain Al-Qaeda leader, a government statement said yesterday. The commission also interviewed Pakistani spy chief Lt Gen Ahmed Shuja Pasha and a doctor, Shakil Afridi, accused of helping American intelligence run a phony vaccination program that tried to obtain a DNA sample from bin Laden and his family, the statement said. Investigators interviewed Pasha, who heads the country’s powerful spy agency, known as the Inter-Services Intelligence, yesterday and planned to meet with him again meet with him today, the commission said. So far, the commission has visited bin Laden’s compound, and questioned civil and military officials.
DUBAI: Bahrain jailed 13 Shiite men for five years and another six for a year for trying to burn down a police station, state media said, extending a judicial crackdown on pro-democracy unrest criticised by governments and human rights groups. The convicted men attacked the police station “to achieve a terrorist aim, cause terror among the people and spark chaos”, the state news agency BNA said yesterday, adding they intended to use petrol bombs. Bahrain faces still almost daily protests by Shiites, angry over job dismissals for taking part in the earlier unrest and over government reform plans that fall short of giving full legislative powers to Bahrain’s elected parliament. At least 30 people were killed, hundreds wounded and more than 1,000 detained - mostly Shiites - during the uprising and a crackdown.
BEIRUT: Two Israeli soldiers whose capture by Hezbollah sparked a 2006 war and whose remains were returned to the Jewish state two years later were killed in an Israeli raid on Lebanon, a minister revealed yesterday. In excerpts of his memoirs of the July 2006 war, Lebanese Health Minister Ali Hassan Khalil - a member of the Hezbollah-allied Shiite Amal movement - said an Israeli air strike that month had killed soldiers Ehud Goldwasser and Eldad Regev. Khalil quotes a top aide to Hezbollah chief Hassan Nasrallah as saying: “It’s ironic ... that Israel should kill the two soldiers it launched a war over ” in the excerpts, published by Lebanese daily As-Safir. The Israeli army dismissed what it called “blatant fabrications” as psychological warfare.
STOCKHOLM: Israeli scientist Daniel Shechtman yesterday won the 2011 Nobel Prize for Chemistry for discovering quasicrystals, an atomic mosaic whose existence was initially ridiculed before overturning theories about solids. Shechtman, aged 70, ran into fierce hostility among fellow chemists after making his eureka-like discovery in 1982 that at the time Shechtman was dismissed as laughable. Today, his work “has fundamentally altered how chemists conceive of solid matter,” the Nobel jury said. Quasicrystals are crystals whose atomic pattern is highly geometrical yet never repeats. To the untutored eye, they look strikingly similar to the tiled patterns of abstract Islamic art.
Erdogan labels nuclear-armed Israel a ‘threat’ PRETORIA: Turkey’s Prime Minister Recep Tayyip Erdogan yesterday branded Israel as a “threat” to its region, accusing it of owning nuclear weapons, in a defence of Palestinians. “I right now see Israel as a threat for its region, because it has the atomic bomb,” Erdogan said in a foreign policy speech during an official visit to South Africa. Israel has never officially admitting to Continued on Page 13
A graphic shows a monkey avatar with a virtual reality upper limb. — AFP
Monkey see, monkey feel Human cells ‘cloned’ PARIS: Monkeys implanted with brain electrodes were able to see and move a virtual object and sense the texture of what they saw, a step forward in the quest to help the severely paralysed touch the outside world once more. “Someday in the near future, quadriplegic patients will take advantage of this technology,” said lead investigator Miguel Nicolelis, a professor of neurobiology at Duke University in North Carolina. They will seek “not only to move their arms and hands and to walk again, but also to sense Continued on Page 13
in the
news