Opposition in Kuwait to stage rally over corruption allegations



KUWAIT CITY // Kuwaiti opposition groups called a rally for today to press for the government's resignation over an alleged corruption scandal involving a number of MPs and possibly former ministers.

The rally, called by Islamist, liberal and nationalist groups, which altogether have more than 20 MPs in the 50-seat parliament, will kickstart a campaign to expose those who allegedly paid and received the money and for what purposes.

The prominent opposition politician Ahmad Al Saadun, speaking at a gathering on Monday night, called on Kuwaitis to attend the rally to press for the resignation of the prime minister, Sheikh Nasser Mohammad Al Ahamd Al Sabah.

"We should not let the prime minister and the government continue for another day, otherwise the country risks collapse," said Mr Saadun, who estimated that the suspect MPs have received around US$350 million (Dh1.28 billion).

Liberal MP Saleh Al Mulla told the gathering the amount is "only the tip of the iceberg," of corruption in Kuwait, adding the "money was paid for political favours".

Kuwait's public prosecution last week launched an investigation into the bank accounts of at least nine MPs who have allegedly received huge deposits during the past few months.

Hundreds of youth activists demonstrated on Friday, demanding fundamental reform, including a constitutional monarch and action against corruption.

Corruption has been on the rise in this oil-rich Gulf state which amassed more than $200 billion (Dh734.6) of budget surpluses over the past 12 fiscal years, thanks to high crude price.

Between 2003 and 2009, the emirate slipped 31 places to 66th position on the Berlin-based Transparency International Corruption Perceptions Index among 178 nations.

In 2010, however, it improved 12 places to the 54th position but still came last among the six-nation energy-rich Gulf Cooperation Council (GCC), behind Saudi Arabia.

The US Congress explained

- Congress is one of three branches of the US government, and the one that creates the nation's federal laws

- Congress is divided into two chambers: The House of Representatives and the Senate

- The House is made up of 435 members based on a state's population. House members are up for election every two years

- A bill must be approved by both the House and Senate before it goes to the president's desk for signature

- A political party needs 218 seats to be in control of the House of Representatives

- The Senate is comprised of 100 members, with each state receiving two senators. Senate members serve six-year terms

- A political party needs 51 seats to control the Senate. In the case of a 50-50 tie, the party of the president controls the Senate

Our Time Has Come
Alyssa Ayres, Oxford University Press

KEY DATES IN AMAZON'S HISTORY

July 5, 1994: Jeff Bezos founds Cadabra Inc, which would later be renamed to Amazon.com, because his lawyer misheard the name as 'cadaver'. In its earliest days, the bookstore operated out of a rented garage in Bellevue, Washington

July 16, 1995: Amazon formally opens as an online bookseller. Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought becomes the first item sold on Amazon

1997: Amazon goes public at $18 a share, which has grown about 1,000 per cent at present. Its highest closing price was $197.85 on June 27, 2024

1998: Amazon acquires IMDb, its first major acquisition. It also starts selling CDs and DVDs

2000: Amazon Marketplace opens, allowing people to sell items on the website

2002: Amazon forms what would become Amazon Web Services, opening the Amazon.com platform to all developers. The cloud unit would follow in 2006

2003: Amazon turns in an annual profit of $75 million, the first time it ended a year in the black

2005: Amazon Prime is introduced, its first-ever subscription service that offered US customers free two-day shipping for $79 a year

2006: Amazon Unbox is unveiled, the company's video service that would later morph into Amazon Instant Video and, ultimately, Amazon Video

2007: Amazon's first hardware product, the Kindle e-reader, is introduced; the Fire TV and Fire Phone would come in 2014. Grocery service Amazon Fresh is also started

2009: Amazon introduces Amazon Basics, its in-house label for a variety of products

2010: The foundations for Amazon Studios were laid. Its first original streaming content debuted in 2013

2011: The Amazon Appstore for Google's Android is launched. It is still unavailable on Apple's iOS

2014: The Amazon Echo is launched, a speaker that acts as a personal digital assistant powered by Alexa

2017: Amazon acquires Whole Foods for $13.7 billion, its biggest acquisition

2018: Amazon's market cap briefly crosses the $1 trillion mark, making it, at the time, only the third company to achieve that milestone

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

The Last White Man

Author: Mohsin Hamid 

192 pages 

Published by: Hamish Hamilton (UK), Riverhead Books (US)

Release date: out now in the US, August 11 (UK)

SPAIN SQUAD

Goalkeepers Simon (Athletic Bilbao), De Gea (Manchester United), Sanchez (Brighton)

Defenders Gaya (Valencia), Alba (Barcelona), P Torres (Villarreal), Laporte (Manchester City), Garcia (Manchester City), D Llorente (Leeds), Azpilicueta (Chelsea)

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UNSC Elections 2022-23

Seats open:

  • Two for Africa Group
  • One for Asia-Pacific Group (traditionally Arab state or Tunisia)
  • One for Latin America and Caribbean Group
  • One for Eastern Europe Group

Countries so far running: 

  • UAE
  • Albania 
  • Brazil 
Abaya trends

The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.

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A QUIET PLACE

Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou

Director: Michael Sarnoski

Rating: 4/5

Results

Stage 7:
1. Adam Yates (GBR) UAE Team Emirates – 3hrs 29min 42ses
2. Remco Evenepoel (BEL) Soudal Quick-Step – 10sec
3. Geoffrey Bouchard (FRA) AG2R Citroen Team – 42sec
General Classification:
1. Remco Evenepoel (BEL) Soudal Quick-Step
2. Lucas Plapp (AUS) Ineos Grenaders – 59se
3. Adam Yates (GBR) UAE Team Emirates –60sec
Red Jersey (General Classification): Remco Evenepoel (BEL) Soudal Quick-Step
Green Jersey (Points Classification): Tim Merlier (BEL) Soudal Quick-Step
White Jersey (Young Rider Classification): Remco Evenepoel (BEL) Soudal Quick-Step
Black Jersey (Intermediate Sprint Classification): Edward Planckaert (FRA) Alpecin-Deceuninck

The Letter Writer

Director: Layla Kaylif

Stars: Eslam Al Kawarit, Rosy McEwen, Muhammad Amir Nawaz

Rating: 2/5

Company profile: buybackbazaar.com

Name: buybackbazaar.com

Started: January 2018

Founder(s): Pishu Ganglani and Ricky Husaini

Based: Dubai

Sector: FinTech, micro finance

Initial investment: $1 million

UAE currency: the story behind the money in your pockets