KUWAIT CITY, July 23: Director of Electronic Publishing Department at Ministry of Information Lafi Al-Sebaie revealed that the deadline for amending the status of the existing electronic media businesses is Monday, July 24, reports Aljarida daily.
He explained that the number of applications registered as of July 20 was 365. In addition, 144 electronic media businesses have obtained licenses including 14 for women. These are of newspapers, news services, publishing houses and news agencies among others. The licenses were granted in accordance with article 5 of the relevant law.
Al-Sebaie affirmed that the department, after the deadline July 24, will receive applications from those wishing to obtain a license for any electronic media business, provided it is new. This is because the existing businesses will be considered as violating the law after the deadline. As per the law, all existing media businesses should amend their status within a year of the issuance of the law.
He revealed that the owner of any new media business, if he is seeking a license, has the right to complete the procedures normally, because the organizing law is not for a limited period.
Al-Sebaie said Article 19 of the law stipulates that any existing media business which did not amend its status within a year after the issuance of the executive regulations will have either to pay a fine ranging between KD 500 and KD 5,000 or their website will be blocked permanently, as deemed suitable by the court.
Kuwait is losing 300,000 barrels each day in oil export after enforcing the decision of OPEC in Jan 2017 to reduce production alongside the world’s major oil producing countries, reports Al-Anba daily quoting a knowledgeable source.
The same source added Kuwait’s export portfolio on a daily basis was approximately 2.3 million barrels before 2017, and it reduced to 2 million barrels daily since Jan 2017.
He said Kuwait addressed its clients on steps to balance the terms and conditions of contracts to avoid losing any long-term contract.
He noted refined oil production was cut down to 700,000 barrels each day, and prices of oil would have deteriorated drastically below $25 per barrel if the decision of OPEC had not been enforced—according to the Minister of Oil.