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Kuwait MPs file to grill oil minister over Dow penalty

Three Kuwaiti lawmakers on Monday requested to question Oil Minister Hani Hussein over the payment of a $2.2-billion penalty to Dow Chemical after the emirate pulled out of a deal with the US firm. Saadun Hammad, Nasser al-Marri and Yacoub al-Sane also charged the minister had allowed deals with Israel, as well as approved liquor sales at Kuwait-owned petrol stations in Europe and illegal staff promotions.

PM Abe vows to promote Japan nuclear infrastructure exports to Mideast

Japanese Prime Minister Shinzo Abe vowed Wednesday to promote exports of Japan's nuclear infrastructure to the Middle East in an effort to enhance economic ties with the region. "I want to build...a completely new relationship (with the Middle East)," Abe said in a speech at King Abdulaziz University in Saudi Arabia, expressing hope to strengthen ties with the region also in the political and security fields.

Kuwait says owed $11.2 bn in Iraq war reparations

Kuwait has received $2.43 billion in war reparations from Iraq since the start of the year and is still owed another $11.2 billion, a senior official in the Guly emirate said on Tuesday. "Kuwait received $1.3 billion in January and $1.13 billion on April 25," the official KUNA news agency cited Compensation Claims Commission chief Khaled al-Mudhaf as saying. Speaking before the Geneva-based UN Compensation Commission, Mudhaf called on Baghdad to continue to deposit five percent of its oil revenues into the fund to ensure regular payments.

UAE pumped over US$55 bn into foreign markets

The UAE has pumped in excess of US$55 billion into foreign markets over the past three decades to emerge as the largest Arab capital exporter. Official data also showed that the UAE has received more than $85 billion in foreign direct investment (FDI) during that period to become the second largest Arab market for foreign capital after Saudi Arabia. During 1980-2011, FDI flow out of the UAE stood at around US$55.5 billion, nearly 31 per cent of the total Arab capital outflow of nearly $176.8 billion, showed the figures by the UN Conference on Trade and Development (UNCTAD) and

UAE becomes largest Middle East market

An upsurge in business has sharply boosted imports by the UAE over the past few years to turn into the largest market in the Middle East although it has one of the smallest populations in the region. Official data showed the UAE's imports of goods and services stood at US$256.4 billion in 2011, exceeding imports by all other Arab nations as well as Turkey for the first time.

Kuwait hangs three in first executions since 2007

Authorities in Kuwait on Monday hanged three convicted murderers in the first executions in the Gulf state since May 2007, the ministry of justice said. The men, a Pakistani, a Saudi and a stateless Arab, were hanged at the central jail, west of the capital Kuwait City, in front of judicial and security officials, the ministry said. The Pakistani was convicted of killing a Kuwaiti couple and the Saudi of murdering a compatriot. The stateless Arab was hanged for killing his wife and five children after claiming he was a long-awaited imam.

Kuwait PM says two Kuwaitis among 94 accused in UAE plot trial

RIYADH (Reuters) - Two Kuwaiti citizens are among 94 suspected Muslim Brotherhood members on trial in the United Arab Emirates accused of planning to overthrow the state, Kuwait's prime minister said. The two are "suspected of involvement in financing this cell", Sheikh Jaber al-Mubarak al-Sabah said in an interview published by pan-Arab daily Asharaq al-Awsat on Saturday.

UAE issues Iraq travel warning

The UAE warned its citizens on Wednesday not to travel to Iraq on hunting trips this season because of insecurity in the country, state news agency WAM reported. "This measure aims to secure and protect all the country's citizens," said senior foreign ministry official Abdullah bin Mohammed bin Buti al-Hamed, urging Emiratis to comply, according to WAM. Many Emirati hunters travel in the spring to Iraq's Sunni-majority western province of Anbar, the site of protests against Prime Minister Nuri al-Maliki. Others head to southern Shiite-populated cities.

URGENT ¥¥¥ Saudi says busted spy cell 'directly linked' to Iran

An alleged spy cell dismantled last week in Saudi Arabia had "direct links" to Iran's intelligence services, the kingdom's interior ministry said on Tuesday. "Preliminary investigations, and physical evidence that has been collected, as well as the defendants' statements on this case, have all revealed direct links between this cell and Iranian intelligence services," a ministry spokesman said in a statement carried by the official SPA news agency. aa/lyn/ak/dv

Iraq oil exports rebound after two-month lull

Iraq's oil exports, which account for the lion's share of government income, rebounded in February after a two-month lull, figures published by the oil ministry showed on Thursday. Iraq exported 71 million barrels of oil in February, or about 2.54 million barrels per day (bpd), up from around 2.36 million bpd the previous month, according to data published on the website of Iraq's State Oil Marketing Organisation on Wednesday. The sales brought in revenues of $7.644 billion, the figures showed.
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