Kuwait's ruler suspends parliament for a month
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Mon June 18, 2012 5:17 pm

KUWAIT. Kuwait's emir has suspended parliament for one month, state news agency KUNA said citing a decree, ahead of the planned questioning of the interior minister by opposition members of the assembly.

The emir, Sheikh Sabah al-Ahmad al-Sabah, can take the step under the Gulf state's constitution to avert a growing political crisis and allow time for negotiations between the government and elected parliament members.

Opposition lawmakers, who hold a majority in parliament, had called Interior Minister Sheikh Ahmad al-Hamoud al-Sabah for questioning. He is a member of the ruling family and one of the most powerful people in the cabinet after the Prime Minister.

They wanted him to quiz him on Tuesday about Kuwait's citizenship law and stateless residents, a sensitive topic in the oil producer which has strict nationality criteria.

Kuwait brought in its fourth government in six years after a snap parliamentary election in February but tensions between the cabinet and chamber escalated quickly, hindering economic policy-making and planning in the oil-rich Gulf state.

Infighting between the parliament and government has forced the resignation of two cabinet ministers in less than a month and threatens to draw in more of their cabinet colleagues.

Opposition MPs are considering also calling the oil minister and defense minister for questioning over different issues. Such grillings may end in a confidence vote which could force ministers out of office.

The minister for social affairs and labor resigned last week and the finance minister quit last month after a questioning session in parliament led by opposition lawmakers which increased the likelihood of a full cabinet reshuffle or the resignation of the government, analysts said.

KUNA said that the cabinet agreed to a draft law "to suspend parliamentary sessions for a month starting today (Monday) according to article 106 of the constitution".

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: April 17, 2014
KUWAIT. According to a newly released report by Kuwait Finance House Research, the global sukuk market saw a modest volume of US$31.14 billion in new sukuk issuances in 1Q2014. This volume represents a drop of 9.82% compared to US$34.53 billion worth of issuances in 1Q13.
date:Posted: April 16, 2014
INTERNATIONAL. The WGC pointed out that the Chinese bank savings amount to US$7.5 trillion but only about US$300 billionn is allocated to gold, signifying the potential for gold demand to grow as Chinese wealth climbs.
date:Posted: April 16, 2014
UAE. "A similar drop to 2013 is unlikely. Those who wanted to get out of gold did, and the rest of 2014 will probably be a year of sideways trading."
SAUDI ARABIA. The GCC said in a statement that foreign ministers of the six-member body had met in Riyadh for a comprehensive review of measures used to implement foreign and security policies.
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