Kuwait

July 2007 | Ratings Update

Reformist elements in the Kuwaiti government have long been struggling against a reluctant parliament, particularly since the June 2006 elections brought more opposition figures into the house. However, it looks as though some progress is now being made: the government has announced plans to sell off 80% of Kuwait Airways, with incentives for employees of the overstaffed firm to leave, allowing it to slim down and operate more efficiently. A 40% share will be sold in an initial public offering, 40% in a later auction to firms listed on the KWSE and the government will keep 20%. Moreover, the government

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