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Arab Times
24-06-2025
- Business
- Arab Times
Israel-Iran War A Wake-Up Call For Kuwait's Oil-Dependent Economy
KUWAIT CITY, June 24: The United States of America has entered the Israeli-Iranian war, raising tensions in the region, creating a state of ambiguity, and opening the door wide to new challenges for the global economy in general and the Kuwaiti economy in particular. Kuwaiti economists have stressed the need to learn economic lessons from the current war and work hard to diversify sources of income; so that the Kuwaiti economy does not remain vulnerable to the risks of geopolitical tensions, which could pose a challenge to an economy dependent on a single commodity -- oil -- taking into consideration the growing fear of seaports closure. In separate interviews with the newspaper, they warned that the continuation of the war for more than a month would negatively impact the economies of Kuwait and neighboring countries, primarily due to the decline in interregional trade and maritime shipping. They underscored the importance of expanding agriculture, livestock, and the food industry, as well as increasing storage of goods that could last for many years in preparation for any emergency. Economic expert and former Minister of State for Housing Affairs Yahya Al-Sumait asserted that the escalation of the war between Israel and Iran and the entry of the United States as a party to the confl ict will affect the national economy, especially since the country relies on imports and exports, not only of oil but of all other products. At the same time, he expects the situation to calm down by the beginning of next month, as the free world will not accept the continuation of the war and its disastrous repercussions for people and the global economy. Economic expert and head of the Accounting Department at Kuwait University Dr. Sadiq Al-Bassam pointed out that the only benefit to the national economy from the Iran-Israel war is the rise in the price of oil, which leads to increased State revenues. 'However, the negative repercussions affect many other areas, foremost of which is the possibility of higher commodity prices if the war is prolonged or the Strait of Hormuz is closed,' he disclosed. Al-Bassam emphasized the need to learn lessons from current events to diversify the country's resources, while expanding the strategic reserve for non-perishable goods to five years. He thinks six months is insufficient, especially since Kuwait is in a highly sensitive region. He also stressed the importance of expanding livestock, agriculture, and the food industry to prevent any crisis should the war continue. Abdullah Al-Gharib, advisor for international organizations affairs at the Kuwait Journalists Association, stated that the continuation of the war has negative repercussions for the national economy, including the suspension of Kuwaiti oil exports if vital ports through which tankers pass are closed. This is especially true given that Iran, amid this war, is still threatening to close the Strait of Hormuz, he added. He warned that the closure of vital ports will affect the buying and selling of food products, because the continuation of the war for more than a month will affect food supplies, prompting food traders to raise prices. He said the situation could lead to a halt in flights, which will lead to numerous economic disasters, especially since commercial aviation tranIsrael-Iran War A Wake-Up Call For Kuwait's Oil-Dependent Economysports many daily food products to Kuwait. Economic expert Ahmed Al- Khashnam reiterated that the current war has negative and positive repercussions for the national economy. He explained that the continuation of the war will inevitably lead to an increase in oil prices to more than $100, which will naturally benefit the country's oil resources more than expected. 'However, the war could also negatively affect the economy if the Strait of Hormuz and other seaports are closed. This will be a greater disaster, as the Kuwaiti economy relies primarily on oil resources,' he asserted. He believes that the situation requires the formation of a crisis management entity to resolve all problems which arise suddenly, such as this war, and might continue for long periods and potentially exhaust the economies of the Gulf states. He said the current war is affecting the global economy as a whole, not just the oil-rich Gulf states; indicating that its negative effects include a decline in all types of investments, which will lead to a decline in the profits of commercial companies that rely primarily on imports and exports. 'Furthermore, the war will lead to the flight of foreign capital or a reduction in its income. The situation is not limited to the warring countries alone, as it extends to neighboring countries, leading to a decline in trade exchange and the volume of intra-trade. This will result in a decline in commercial activity, which will raise wheat prices, as it happened in the Russia-Ukraine war. I hope the Israeli- Iranian war will stop soon,' he added.
Yahoo
19-06-2025
- Entertainment
- Yahoo
People Share Names That Perfectly Match Jobs: 'Dentist named Dr. Drewel'
Some people have names so perfectly matched to their jobs, it's hard not to wonder if fate had a hand in it — like the dentist named Dr. Molar or the meteorologist Larry Sprinkle. Coincidence? Probably. Funny? Absolutely. When Tyler Froberg, a Texas-based fifth-generation farmer, and U.S. Army veteran, served in the military, he trained in dive school. There were two supervisors: Sergeant Wazowksi — nicknamed 'Wookie' — and Sergeant Gills. 'I made a joke one time and asked, 'When do we get our cool nicknames?' Froberg recalled.'And Sergeant Gills looked at me and goes, 'What do you mean by that?'' Froberg, 33, had mistakenly assumed that Gills, like Wookie, was short for something more ordinary. 'Imagine you're a diver in the army and your last name is gills!' Froberg says, laughing at the memory. Froberg also knows Trevor Bales, a hay farmer, and Harold Winger, a pigeon breeder. Earlier this year, Froberg invited his TikTok followers to share 'someone whose name fits perfectly with their career choice.' Their responses did not disappoint: A urologist named Dr. Leak, and even a choir teacher named Brenda Music. 'We have a cat scan tech named Catherine Skan. She is literally Cat Skan.' 'Chiropractor in my town is Dr McCracken.' 'My high school cooking teacher was Miss Fish … until she married and became Mrs Baker.' 'Orthodontist in Albuquerque named Dr. Hurt. He's tag line: It's just my name, not my intention.' 'My grandparents were farmers and Farmers.' 'Worked with a woman years ago whose name was Penny Nichols. Then she got married and became Penny Cash. And yes, she worked in the Accounting Department.' 'Dentist named Dr. Drewel.' 'My kids dentist is Dr. Silvertooth.' 'There's a urologist in Toledo named Dick Tapper.' 'Oakland police academy instructor Sgt Sergeant.' 'My mom's best friend was a Barber with the last name Barber.' 'A urologist ... Dr. Brian M. Dicks. 100% serious!! His wife took his name and is a gynecologist!!' 'my podiatrist dr. corn.' 'Surgeon in my hometown named Dr. Cutright.' 'My partner is a litigation attorney. Part of his job is to examine witnesses in court. His last name is Grills.' 'There was a teacher at my high school named Mr. Wood. You guessed it. He taught woodshop.' 'Dr in Houston. Dr Butts. Proctologist.' You can't make this stuff up, and with names like these, you don't have to! This article was originally published on
Jordan News
04-05-2025
- Business
- Jordan News
University of Petra Participates in "BOLD" Program to Strengthen Academic Partnerships - Jordan News
University of Petra Participates in "BOLD" Program to Strengthen Academic Partnerships The University of Petra took part in the award ceremony of the 'BOLD' (Building Opportunities for Learning and Development) program under the theme Celebration and Excellence. Representing the university were Dr. Abdul Rahman, Head of the Accounting Department at the Faculty of Administrative and Financial Sciences; Dr. Ahmad Al-Qasem, Director of the Quality Assurance, Planning, and Performance Management Unit; and Dr. Mayyas Al-Rimawi, Vice President of the University. اضافة اعلان During the event, Dr. Abdul Rahman presented a scientific poster emphasizing the importance of designing academic curricula using modern methodologies that accommodate diverse student learning styles. He praised the valuable guidance provided during the program's workshops by Dr. Sean Morrissey of the University of Strathclyde and Professor Fiona Smart of FSCCLTD. The ceremony was attended by Professor Dhafir Al-Sarayrah, President of the Higher Education Accreditation Commission, and the British Ambassador to Jordan, Philip Hall.
