Thursday, October 06, 2005

Boring Economic News That Every Kuwaiti Should Know.

I hate reading articles about the Kuwaiti economy. I also hate reading articles about Kuwaiti politics. However, now that I am part of the voting public, I feel that it would be irresponsible for me not to be up to date about these things. Same goes for you. So in the interest of our collective edjemacation, I'm pointing us to this article. And because I'm nice, I'll just parse out the stuff that I feel is important and quote it here for those who don't feel like reading the whole thing. Oh wait, I'm not that nice: the block quotes also come with my own insipid editorial musings.

Project Kuwait: A sell off or sell out?

This month Kuwait’s parliament is set to vote on a bill that would for the first time in decades de facto give foreign firms a percentage of the oil they find.

(If you’re not going ‘WTF?!’, then you probably are not grasping the gravity of the situation. Put simply, this means two things: either we’re in big trouble economically, or we’re in big trouble economically. Anyway, following this great opener are several boring paragraphs about how Parlaiment is in an uproar about the whole thing (big surprise there) and who said what and who reacted to what was said blah blah, lots of numbers, blah blah blah..Valid points, but pretty boring.)

The government wants to attract foreign direct investment and sell off state-owned businesses (outside the oil sector) to liberalise the economy for the wave of young Kuwaitis who will soon be on the job market.

(Personally, I think this is a necessary evil. Unemployment in Kuwait for young Kuwiaties is on the rise. Using this tactic will most likely encourage a new generation of entrepreneurs. This we definitely need.)

...many powerful MPs want to torpedo the plan and keep foreigners’ fingers off the nation’s patrimony.

(I rarely support Parlaiment in anything: they fucked up way too many times in the past. The more I read about it, the more I'm leaning towards this Kuwait Project as being a good thing. If most of Parlaiment hates it, then it's most likely beneficial. Mind you, the article mentions that this isn't the first time they voted on this project, so I'm predicting that it's not going to pass.)

Whether they scent cash or crude, three consortia led by BP, ExxonMobil, and Chevron who are jostling for a place to drink at Project Kuwait’s wells...

(Ahh poetic imagery. No business article is worth its metal without it.)

Parliament has previously supported the government to open up the economy. In 2001 it passed the Foreign Direct Investment Act, which lifted restrictions on foreign banks, protected foreign investors against nationalisation or confiscation, and abolished the requirement for overseas firms to have a Kuwaiti sponsor or partner.


(I had no idea this happened! It's kind of upsetting and exciting at the same time. It also explains a lot of the things that have been going on in Kuwait for the past five years.)

Kuwait pours some 10% of its oil and gas dollars, which account for 90% of government revenues, into the Future Generations Fund for the day when oil no longer flows. How much cash is in there for tomorrow’s children when that day arrives may come down to the success or failure of the precedent-setting Project Kuwait.


(My father spoke to me about the FGF before. Without it, many of the Kuwaities during the Gulf War would have perished. Messing with the nest egg does worry me a little, but on the whole, I've come to the conclusion that Project Kuwait will do more good than harm to our ailing economy. If I'm wrong, you have every right to give me the virtual smackdown in the comment section. If I'm right, please write me a haiku. Sonnets are ok too.)

That's it for tonight's lesson. Now go have some fun.

5 Comments:

Anonymous Anonymous said...

Your one-stop source for free articles and ebooks. Do you need contents
to add to your web site? Or articles for use on your opt-in newsletters
and e-zines? Yourebooksuperstore.com has scoured the web and indexed a
huge collection of articles on various subjects. Just click on the
appropriate category to read the articles. Please feel free to submit
an article. http://trafficzone.us/hoo/hoodia_diet_pill.html

7:58 PM  
Blogger oakleyses said...

louis vuitton, polo ralph lauren, nike free run, oakley sunglasses, polo ralph lauren outlet online, sac longchamp pas cher, michael kors pas cher, longchamp outlet, tiffany and co, uggs on sale, prada outlet, replica watches, tiffany jewelry, nike free, polo outlet, longchamp pas cher, prada handbags, louboutin pas cher, chanel handbags, nike air max, air max, ugg boots, nike air max, nike roshe, burberry pas cher, ray ban sunglasses, oakley sunglasses, oakley sunglasses, christian louboutin outlet, gucci handbags, louis vuitton, louis vuitton outlet, tory burch outlet, louis vuitton outlet, longchamp outlet, christian louboutin uk, louis vuitton outlet, longchamp outlet, christian louboutin shoes, cheap oakley sunglasses, nike outlet, kate spade outlet, jordan shoes, jordan pas cher, ray ban sunglasses, ray ban sunglasses, oakley sunglasses wholesale, replica watches

5:17 AM  
Blogger oakleyses said...

converse pas cher, burberry outlet, michael kors outlet online, hollister pas cher, timberland pas cher, michael kors outlet online, michael kors outlet online, hogan outlet, kate spade, nike tn, true religion outlet, nike air max uk, michael kors, true religion jeans, uggs outlet, nike air max, nike free uk, north face, ray ban uk, north face uk, true religion outlet, nike blazer pas cher, true religion outlet, michael kors, uggs outlet, abercrombie and fitch uk, lululemon canada, vans pas cher, sac vanessa bruno, nike air max uk, michael kors outlet, michael kors outlet, ray ban pas cher, michael kors outlet, oakley pas cher, nike roshe run uk, polo lacoste, nike air force, ralph lauren uk, coach purses, coach outlet, guess pas cher, new balance, hollister uk, coach outlet store online, sac hermes, burberry handbags, replica handbags

5:20 AM  
Blogger oakleyses said...

iphone 6 plus cases, giuseppe zanotti outlet, hollister, reebok outlet, mont blanc pens, abercrombie and fitch, jimmy choo outlet, iphone 6s plus cases, iphone cases, nike roshe run, north face outlet, s6 case, new balance shoes, mac cosmetics, iphone 6 cases, timberland boots, instyler, celine handbags, asics running shoes, ferragamo shoes, beats by dre, ghd hair, oakley, baseball bats, valentino shoes, herve leger, wedding dresses, babyliss, vans outlet, nfl jerseys, p90x workout, mcm handbags, ralph lauren, bottega veneta, nike huaraches, longchamp uk, soccer shoes, iphone 5s cases, iphone 6s cases, ipad cases, insanity workout, north face outlet, nike air max, lululemon, chi flat iron, soccer jerseys, nike trainers uk, hollister clothing, louboutin, hermes belt

5:23 AM  
Blogger oakleyses said...

louis vuitton, pandora jewelry, coach outlet, montre pas cher, moncler, ray ban, canada goose uk, karen millen uk, ugg uk, pandora uk, moncler, converse outlet, juicy couture outlet, gucci, moncler, moncler, canada goose, swarovski, replica watches, ugg pas cher, lancel, wedding dresses, canada goose jackets, hollister, canada goose outlet, moncler outlet, hollister, supra shoes, juicy couture outlet, moncler outlet, louis vuitton, vans, canada goose outlet, barbour uk, ugg,uggs,uggs canada, links of london, ugg,ugg australia,ugg italia, nike air max, pandora jewelry, louis vuitton, louis vuitton, canada goose, converse, barbour, pandora charms, swarovski crystal, louis vuitton, thomas sabo, marc jacobs, canada goose outlet, canada goose, moncler uk

5:27 AM  

Post a Comment

Links to this post:

Create a Link

<< Home