LYCOS RETRIEVER 
Kuwait: Economies
built 629 days ago
An important period in Kuwait's political, social and economic development was the Souk Al-Manakh stock market crash of 1982. This was a major crash that had widespread consequences and has endured in the public memory even decades later.
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The 1992 election marked a significant political watershed for Kuwait. Antigovernment candidates, about half of them Islamists, won thirty-five of the fifty seats. The ideological balance between Islamist and secularist parliamentarians (there are no legal parties in Kuwait, although a minority of candidates associate themselves with political clubs whose stands on issues they share) brought policy making to a virtual halt through much of the 1992 parliament's four-year term. Its successor, the 1996 parliament, was equally deadlocked on major issues, prompting the amir to dismiss the body in 1999 and call for new elections within sixty days, the first constitutional transition of this kind. The 1999 parliament ... reflected a close balance between liberal and Islamist forces, but members of both coalitions were notably more flexible than their predecessors. Cross-coalitions centered mainly on economic issues were occasionally able to mobilize parliamentary majorities.
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"The joint venture between PIC and Dow will be positioned to flourish in high-growth economies through access to feedstock offtakes from future KPC refineries in emerging regions," said Maha Mulla Hussain, Managing Director of Petrochemical Industries Company of Kuwait. "This will give the new JV company the distinct advantage of full integration from feedstocks to derivatives, while meeting growing customer demand in emerging markets."
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