Kuwait Airways resumes Iraq flights

Updated 21 November 2013
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Kuwait Airways resumes Iraq flights

BAGHDAD: A scheduled Kuwait Airways flight landed in Iraq late on Wednesday for the first time since the 1990 Iraqi invasion, in the latest sign of improved ties between the neighbors.
Kuwait's national airline flew 100 passengers to Najaf, 160 km (100 miles) south of Baghdad, the director of Najaf's airport told state news agency KUNA.
KUNA said Kuwait Airways planned to fly twice a week to Najaf, which is more secure than the capital Baghdad, where bombings are an almost daily occurrence.
Diplomatic relations between Kuwait and Iraq improved last year after a settlement over debts from the era of the 1991 Gulf War, in which a US-led coalition forced Iraqi troops out of Kuwait.
Ties have also been bolstered by a series of bilateral visits involving Kuwait's ruler and Iraq's prime minister.
Iraq's state airline resumed flights between Baghdad and Kuwait in February for the first time since the invasion. But most major carriers that ply the route still do so through other cities such as Dubai, even though the Iraqi and Kuwaiti capitals lie just 560 km (346 miles) apart.
In December, Kuwait Airways dropped legal cases against Iraqi Airways in return for compensation of $500 million.
The legal row was part of a broader dispute over billions of dollars in reparations dating back to the invasion, when the forces of former Iraqi leader Saddam Hussein seized aircraft and parts.


‘Saudi Inc’ author says no shows won’t dent KSA investment appeal

Updated 23 October 2018
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‘Saudi Inc’ author says no shows won’t dent KSA investment appeal

  • Ellen Wald said there was an element of symbolism in the decision by some executives not to attend the Future Investment Initiative
  • Wald also said that the absence of many big name investors from the US and Europe might hand an advantage to other potential business partners

RIYADH: An American expert on US-Saudi business affairs believes that the withdrawal of some senior business leaders from the investment conference that opens in Riyadh today does not reflect the Kingdom’s commercial attractions.
Ellen Wald, president of the Transversal Consulting think-tank and author of the recent book “Saudi Inc,” told Arab News that there was an element of symbolism in the decision by some executives not to attend the Future Investment Initiative in the Saudi capital, and that many business people were still looking to do business there.
“I think the big pull out of CEOs is not really reflective of the corporate interest in the Kingdom because we see them sending their next level of executives along. So to some degree it (the CEO pullout) is symbolic. I think what they experience here this week will have an effect,” she said.
Wald also said that the absence of many big name investors from the US and Europe might hand an advantage to potential business partners in other parts of the world.
“In terms of attracting foreign investment, Saudi Arabia could have strategic leverage with Russia and China, and a unique opportunity to work on cutting edge technolgies,” she said.
Wald was speaking at an event organized by the King Abdullah Petroleum Studies and Research Center to discuss her book. She said that Saudi Arabia had a greater need for technology and know-how than for cash investment.
“With regard to foreign investment, it is not about extracting money, but about extracting expertise. The Saudi model has been to hire outside industrial talent, for example the Public Investment Fund and its cinema partner AMC. They are buying expertise in the same way that the Saudis bought in expertise with Aramco, all those years ago. Eventually they (PIF) will buy the cinemas out or bring in somebody else to run them,” she added.