Kuwait plans to launch a tender to develop a port on Boubyan island, located at the mouth of the waterway that leads to Iraq's only port, the state news agency quoted a minister as saying yesterday. A plan to develop a port on the island was ready to be sent to a government committee that approves public sector tenders and contracts, KUNA cited Public Works Minister Fadhel Safar as saying. It gave no further details. In 2004, Kuwait approved a $3.47 billion plan to develop the island into a commerc
ial seaport to position itself to play a key role in Iraq's reconstruction after the 2003 US-led invasion.
Dar forms steering panel
KUWAIT: Kuwait's Investment Dar has formed a steering committee to coordinate contacts with its creditors and investors as part of a restructuring plan, the firm said yesterday. "(The steering committee) will allow TID to communicate much more effectively with its banks and investors and will significantly accelerate the pace of the proposed restructuring process," Dar said in a statement. Auditing of the Islamic firm's 2008 earnings report is expected to be completed by mid-June and would then be submitte
d to the Central Bank for approval, Dar said. The firm, which owns half of British luxury car maker Aston Martin, said that in addition to the global financial crisis, the complexity of Dar's structure and its 50 subsidiaries and associates, are reasons behind the delay in 2008 earnings. Trading in Dar's shares has been suspended since April 1, for failing to publish its 2008 earnings report on time.
Tyson's daughter dies
PHOENIX: Former heavyweight world champion Mike Tyson's four-year-old daughter died Tuesday, a day after accidentally catching her neck in a cord on a treadmill at her home, police said. Exodus Tyson had been hospitalized on life support since Monday, when she was found with her neck wrapped in the cable of the exercise machine by her seven-year-old brother. The boy summoned his 34-year-old mother from another room, and the woman freed the girl, called an ambulance and tried to revive her. Tyson, who doesn
't live in the Phoenix house, arrived Monday afternoon from Las Vegas and was filmed by television news cameras entering the hospital where Exodus was being treated. "We are grateful for the tremendous outpouring of love and prayers from all over the world," the family said in a statement. "There are no words to describe the tragic loss of our beloved Exodus. We ask you now to please respect our need at this very difficult time for privacy to grieve and try to help each other heal.
ial seaport to position itself to play a key role in Iraq's reconstruction after the 2003 US-led invasion.
Dar forms steering panel
KUWAIT: Kuwait's Investment Dar has formed a steering committee to coordinate contacts with its creditors and investors as part of a restructuring plan, the firm said yesterday. "(The steering committee) will allow TID to communicate much more effectively with its banks and investors and will significantly accelerate the pace of the proposed restructuring process," Dar said in a statement. Auditing of the Islamic firm's 2008 earnings report is expected to be completed by mid-June and would then be submitte
d to the Central Bank for approval, Dar said. The firm, which owns half of British luxury car maker Aston Martin, said that in addition to the global financial crisis, the complexity of Dar's structure and its 50 subsidiaries and associates, are reasons behind the delay in 2008 earnings. Trading in Dar's shares has been suspended since April 1, for failing to publish its 2008 earnings report on time.
Tyson's daughter dies
PHOENIX: Former heavyweight world champion Mike Tyson's four-year-old daughter died Tuesday, a day after accidentally catching her neck in a cord on a treadmill at her home, police said. Exodus Tyson had been hospitalized on life support since Monday, when she was found with her neck wrapped in the cable of the exercise machine by her seven-year-old brother. The boy summoned his 34-year-old mother from another room, and the woman freed the girl, called an ambulance and tried to revive her. Tyson, who doesn
't live in the Phoenix house, arrived Monday afternoon from Las Vegas and was filmed by television news cameras entering the hospital where Exodus was being treated. "We are grateful for the tremendous outpouring of love and prayers from all over the world," the family said in a statement. "There are no words to describe the tragic loss of our beloved Exodus. We ask you now to please respect our need at this very difficult time for privacy to grieve and try to help each other heal.