LYCOS RETRIEVER 
Kuwait: Persian Gulf
built 657 days ago
During the Persian Gulf War from the fall of late 1990 to early 1991, Iraq embarked on a systematic destruction of Kuwait's oil industry, and Iraqi forces set fire to 789 individual Kuwaiti oil wells. The attendant results were catastrophic both from an economic and ecological standpoint. Kuwait's economy suffered a precipitous drop in export revenues immediately after the Gulf War, due to the inability to make up the production differences from the damaged oil wells. The ecological landscape of Kuwait and the Persian Gulf was irrevocably damaged due to the destruction unleashedsed by the burning oil wells, and it may be generations before this environment is restored to its pre-war balance. This case study examines the impact of the Gulf War on the Kuwaiti economic and ecological systems.
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The government invested Kuwait's oil income directly, by expanding domestic and foreign oil holdings through KPC and its various subsidiaries; indirectly, it made large purchases of foreign blue-chip securities. Most of the latter are held by the Reserve Fund for Future Generations (RFFG), established in 1976 to ensure Kuwait's post-hydrocarbon prosperity. By law, the RFFG receives 10 percent of annual government revenue; it is the only reserve of its kind anywhere in the Gulf. By the early 1980s, Kuwait's portfolio income exceeded its income from oil and gas.
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Gulf Bank has been awarded 'Best Bank in Kuwait' by Global Finance in 2007 and 'Best Retail Bank in the Middle East' in 2005 and 2006 by Banker Middle East. Gulf Bank routinely surpasses its competition by focusing on one simple strategy: delivering superior customer satisfaction. The Bank has consistently delivered strong financial results in a highly competitive market environment reflecting its focused and effective business strategies.
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Italian: Lorenzo, next to Salhiya Complex (in Sharg), and Ricardo, which is in the Sheraton are considered among the best Italian restaurants in Kuwait. Pomodoro which is in Sharg next to the church ... serves good Italian food. Nino's, on the Gulf Road, is also good, but is more of a casual restaurant.
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Gulf Bank is Kuwait's second largest and fastest growing commercial bank. Established in 1960, Gulf Bank has since progressed to becoming an industry-leading financial services provider complemented by a large network of 40 branches strategically positioned in key locations in Kuwait for the banking convenience of customers.
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The most serious domestic political problem faced by Kuwait and other Gulf monarchies is uncertainty over ruler succession. Rulers and heirs apparent are mostly old and ailing, and the size of ruling families, along with evidence of clashing personal ambitions, heightens insecurity about future governance.
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Persian Gulf