Worship and Shopping mark the Holy Month of Ramadan
When the sun sets in the evening to mark the end another Ramadan day, some people in Kuwait, after breaking their fast find solace in performing the “Taraweeh” prayers. There are others who turn on their TV sets to tune the Ramadan quizzes, Fawazeer or the popular operas. There are also others who frequently visit various coffee shops, which offer traditional oudh music, water pipes, card games and assortments of Ramadan sweets.
The sound of the Quranic chanting fills the empty streets of Kuwait and its outskirts every evening during the fasting month of Ramadan. Kuwaitis pack mosques in order to perform special Ramadan prayers, called the “Taraweeh” that follows the fifth and usually the last prayer of the day. After an hour of worship, they hit the Souks (shopping complexes) and markets, which are open until 2.00 am during the holy month and the shops attract customers with raffle draws for cars or mobile phones.
Ramadan in Kuwait may not be as festive as it is in other Arab countries such as in Egypt. Yet, Islam’s holiest month has turned into a lucrative industry in Kuwait. “Ramadan has been commercialized”, pointed out an Imam in a Mosque. “It used to be the essence of prayer and worship”, he said.
Ramadan marks the God’s revelation of the Quran, Islam’s holy book, to the ProphetMuhammad (PBUH), nearly 1400 years ago. Muslims abstain from food, drink, smoking and sex during the daylight hours as an act of sacrifice and purification. In Kuwait, each day of fasting ends at sunset with family and friends gathering, sometimes in tents in the deserts or on the beaches to share a rich meal called Iftar.
Hours before the fasting ends, old souks with serpentine alleys are jammed with mostly male shoppers. They buy special Ramadan sweets, crunchy balls dipped in syrup, crescent shaped pastries filled with groundnuts or peanuts, and cream filled deserts among others. A number of articles and TV programs warn against engaging in an eating marathon between sunset and sunrise.
The Government, this year too, warned the non-Muslims in the country against eating, drinking or smoking in public during the day. The violators could loose their jobs or be deported. Non-Muslims can eat at home. Most hotels in the country offer the guests only room service dining during the day.
Economists urge Kuwait Government to reduce income tax on foreign firms
The Economists urged the Government of Kuwait to cur agonizing red tape and approve reforms to lure overseas investors to Kuwait, which recently opened up its economy to foreign investments.
The Council of Ministers of the Government of Kuwait issued a decision on 19th October 2003 to implement the Foreign Direct Investment Law, approved by the parliament back in 2001 – effectively opening up most economic sectors to foreign investors for the first time.
Foreigners can now invest in all industries except oil and gas exploration and production, in addition to infrastructure projects in water, power, telecommunications and sewage treatment.
The Economists also urged the Government to reduce income tax on foreign firms, which is 55 % at present. If the tax is not reduced, only a very few investors will be interested in investment in Kuwait.
In 2001, the Government approved a bill to cut income tax to a maximum of 25 %, but the National assembly has not yet passed it. Similarly the all-important legislation on privatization has not been passed by Parliament although it has been there for more than ten years.
Under the Foreign Investments Law,investors can establish companies in Kuwait and own 100 per cent of the shares. They can invest in housing projects, real estate and the entertainment industry.
Foreigners can also invest in banking,investment firms and exchange companies,following Central Bank’s approval, in addition to insurance companies, information technology, hospitals and the drugs industry.
The law provides potential investors with tax holidays for up to 10 years, exemption from customs and charges on raw materials.Foreigners currently trade and own shares on the Kuwait Stock Exchange.
Kuwait, which depends for 90 per cent of its national income on oil, has faced fundamental structural distortions in the economy, mainly because most activities are concentrated in the hands of the inefficient public sector.
The Government is expected to bring several important economic bills before parliament, which began a new term on October 20, 2003.
Kuwait to host Expo on Rebuilding of Iraq
Kuwait will host an international Expo titled “Rebuild Iraq 2004” to reconstruct the wartorn country, from January 19 to 24, 2004 at the Kuwait International Fair Grounds under the patronage of Prime Minister Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah. This was announced by Mr. Abboud Tufeeili, President of the Iraqi Chamber of Commerce.
The reconstruction of Iraq, the biggest project of its kind over half a century would offer contracts worth over $ 50 billion to various companies from different sectors. The Expo, organized by the Kuwait International Fair Company and the Riyadh Expo Company, is an opportunity for Iraqi businessmen and companies to participate in the reconstruction of the country after the overthrow of Saddam Hussein’s regime. The lifting of economic sanctions imposed on Iraq after its 1990 invasion of Kuwait opened the country to international trade
and investment.
The reconstruction of Iraq, the largest project of its kind since the end of World War II, will cost $ 100 billion over the next five years. About $ 50 billion worth of projects are likely to be sub-contracted to the US and foreign firms.
The “Rebuild Iraq 2004” will connect the international suppliers with decision makers overseeing the reconstruction of Iraq. The Expo will bring together decision makers, project owners and government bodies with manufacturers, suppliers and contractors.
The Expo would exhibit a full range of infrastructure products, services and systems needed to rebuild the country. This includes infrastructure for food, water, hospital equipment, medicines, security equipment, environmental tools, oil-wells and refinery repair and maintenance, oil and gas supplies, road and rail construction, air and sea port construction, schools, telecom and financial systems.
The reconstruction of Iraq’s oil sector alone will cost $ 15 billion, while $ 1 billion is needed to rebuild the telecom sector and $ 20 billion has been earmarked to resuscitate the national economy. The sale of airport communication systems, aircraft parts and airline services, transport, construction and security equipment represent future opportunities for the companies. All ports in Iraq need technological upgrades and major clearance. Other areas where significant demand exists include water, agriculture, environment, healthcare services, HVAC,information technology and hotels.
The Expo is going to be launched under the slogan of “Reconstructing Iraq” and is highly supported by the Kuwait Chamber of Commerce and Industry. So far, 19 countries have confirmed their participation in the Expo. The participating countries include Kuwait, Iran, Italy, India, Denmark, South Korea, China, Greece, the United States, Romania, Austria, Thailand, Malaysia, Kingdom of Saudi Arabia, the United Arab Emirates, Oman, Egypt, Cyprus and Indonesia.
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