Kuwait defence chief says government quit over embezzlement by Staff Writers Kuwait City (AFP) Nov 16, 2019 Kuwait's defence minister said Saturday that the government's recent resignation was triggered by the alleged embezzlement of nearly $800 million from a military aid fund. "It is the main reason for the government's resignation", said Sheikh Nasser Sabah al-Ahmad Al-Sabah, two days after Prime Minister Sheikh Jaber Mubarak Al-Sabah quit along with his cabinet. In a statement, Sheikh Nasser said that the embezzlement of 240 million Kuwaiti dinars (789 million dollars, 715 million euros) had taken place before his 2017 nomination to head the defence ministry. He added that he had given to judicial authorities elements of an internal investigation just before the government resigned. Sheikh Nasser, the eldest son of Kuwait's emir, said that he had requested explanations of the alleged irregularities from the prime minister and the interior minister, to no avail. He had decided to "boycott government meetings" in protest against the absence of a response to these questions, he said. In a statement on Thursday, government spokesman Tareq al-Mazrem had said the administration's resignation stemmed from lawmakers' criticism of several ministers for alleged malpractice. The departure of the premier and his ministers paves the way for the formation of a new cabinet in a country accustomed to disputes between lawmakers and the ruling family-led government. Hundreds of people joined an anti-corruption protest outside Kuwait's parliament earlier this month. Oil-rich Kuwait has a fully elected parliament that enjoys wide legislative powers and can vote ministers out of office.
Climate change looms over giant Saudi energy IPO Dubai (AFP) Nov 15, 2019 As investors weigh up the value of Saudi energy colossus Aramco ahead of its IPO next month, the global drive to contain climate change and waning demand for fossil fuels are seen as key risks. The world's largest hydrocarbon supplier is set to announce a price range for its shares on Sunday, in a listing dogged by years of delays and false starts partly caused by question marks over how much it is worth. Ironically, the state-owned firm must spur investors' appetite for oil assets even though t ... read more
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |