Advertisement
YOU ARE HERE: LAT HomeCollectionsKuwait Foreign Assets
IN THE NEWS

Kuwait Foreign Assets

FEATURED ARTICLES
BUSINESS
September 5, 1990 | KAREN TUMULTY, TIMES STAFF WRITER
Well before business hours on the morning of Aug. 3, attorney Michael Calabrese was already at work putting the finishing touches on the paperwork for a client who was financing a major new public works project in Iraq. As the 34-year-old lawyer prepared to fax the draft documents to the New York office of his law firm, Morgan, Lewis & Bockius, he noticed something that had just arrived on the machine.
ARTICLES BY DATE
BUSINESS
February 27, 1991
Kuwait will not sell major international assets to raise the money to rebuild the country after Iraq's occupation despite large-scale destruction, according to Sheik Ali al Khalifa al Sabah, Kuwait's finance minister. Defense stocks, which have performed strongly during the Persian Gulf War, sagged on expectations that peace may be at hand in the six-week conflict.
Advertisement
NEWS
August 16, 1990 | MARK FINEMAN, TIMES STAFF WRITER
Imagine having to get by in London on just $9,500 a day, being so strapped for cash that the no-limit tables at London's casinos are off-limits for the foreseeable future. This is the plight of many Kuwaitis stranded here. The crisis in Kuwait has produced what may become the world's wealthiest refugee community, yet the Kuwaitis trapped here are measuring the tragedy not in terms of dollars and dinars but in lives and land.
BUSINESS
September 5, 1990 | KAREN TUMULTY, TIMES STAFF WRITER
Well before business hours on the morning of Aug. 3, attorney Michael Calabrese was already at work putting the finishing touches on the paperwork for a client who was financing a major new public works project in Iraq. As the 34-year-old lawyer prepared to fax the draft documents to the New York office of his law firm, Morgan, Lewis & Bockius, he noticed something that had just arrived on the machine.
BUSINESS
February 27, 1991
Kuwait will not sell major international assets to raise the money to rebuild the country after Iraq's occupation despite large-scale destruction, according to Sheik Ali al Khalifa al Sabah, Kuwait's finance minister. Defense stocks, which have performed strongly during the Persian Gulf War, sagged on expectations that peace may be at hand in the six-week conflict.
BUSINESS
May 14, 1986
The Middle Eastern country served notice on Western financial markets that it is reviewing the spread of its huge foreign assets and may shift funds to Communist countries and the Third World. Finance Minister Jassim Khorafi, citing both political and economic factors for the move, listed China, the Soviet Union, India, Turkey and South Korea as likely investment targets for Kuwait, one of the richest Arab oil states.
NEWS
August 4, 1990 | TOM REDBURN, TIMES STAFF WRITER
Iraq's sudden invasion of oil- and cash-rich Kuwait gives new meaning to the term hostile takeover. By storming Kuwait this week, debt-ridden Iraq sought not only to advance an array of foreign policy and ideological interests but to escape a financial squeeze that was growing ever tighter around its neck. In the longer run, U.S. analysts warn, it may have settled an equally dangerous economic noose around the neck of United States and other energy-dependent nations.
NEWS
August 9, 1990 | NORMAN KEMPSTER, TIMES STAFF WRITER
Secretary of State James A. Baker III, flying to enlist the Turkish government in a growing drive against Iraq, announced Wednesday that the United States is contacting Syria and Iran about the possibility of cooperating in the global effort. Speaking with reporters on his way to a refueling stop at this base in the Azores, Baker said he will dispatch Assistant Secretary of State John Kelly to Syria to explore with President Hafez Assad the possibility of U.S.
NEWS
August 4, 1990 | KIM MURPHY, TIMES STAFF WRITER
Iraq moved to consolidate its hold on the farthest reaches of Kuwaiti territory Friday, but it promised to begin withdrawing some of its troops as early as Sunday in the face of mounting international pressure against the invasion. An estimated 100,000 Iraqi troops and 300 tanks were pushing through Kuwait's southern oil fields to within 5 to 10 miles of the Saudi border, according to U.S. and Saudi sources.
NEWS
September 19, 1990 | From Associated Press
Iraqi President Saddam Hussein today seized all foreign assets from countries honoring the embargo on trade with his nation, just days before the U.N. Security Council is expected to toughen its sanctions. The Iraqi government said it has seized all cash deposits and property of governments, companies and banks--private and government-owned--from countries that are honoring the U.N.-ordered embargo. In New York, Soviet Deputy Foreign Minister Yuli Vorontsov said today that he expects the U.N.
NEWS
August 16, 1990 | MARK FINEMAN, TIMES STAFF WRITER
Imagine having to get by in London on just $9,500 a day, being so strapped for cash that the no-limit tables at London's casinos are off-limits for the foreseeable future. This is the plight of many Kuwaitis stranded here. The crisis in Kuwait has produced what may become the world's wealthiest refugee community, yet the Kuwaitis trapped here are measuring the tragedy not in terms of dollars and dinars but in lives and land.
NEWS
August 9, 1990 | NORMAN KEMPSTER, TIMES STAFF WRITER
Secretary of State James A. Baker III, flying to enlist the Turkish government in a growing drive against Iraq, announced Wednesday that the United States is contacting Syria and Iran about the possibility of cooperating in the global effort. Speaking with reporters on his way to a refueling stop at this base in the Azores, Baker said he will dispatch Assistant Secretary of State John Kelly to Syria to explore with President Hafez Assad the possibility of U.S.
NEWS
August 4, 1990 | TOM REDBURN, TIMES STAFF WRITER
Iraq's sudden invasion of oil- and cash-rich Kuwait gives new meaning to the term hostile takeover. By storming Kuwait this week, debt-ridden Iraq sought not only to advance an array of foreign policy and ideological interests but to escape a financial squeeze that was growing ever tighter around its neck. In the longer run, U.S. analysts warn, it may have settled an equally dangerous economic noose around the neck of United States and other energy-dependent nations.
NEWS
August 4, 1990 | KIM MURPHY, TIMES STAFF WRITER
Iraq moved to consolidate its hold on the farthest reaches of Kuwaiti territory Friday, but it promised to begin withdrawing some of its troops as early as Sunday in the face of mounting international pressure against the invasion. An estimated 100,000 Iraqi troops and 300 tanks were pushing through Kuwait's southern oil fields to within 5 to 10 miles of the Saudi border, according to U.S. and Saudi sources.
BUSINESS
May 14, 1986
The Middle Eastern country served notice on Western financial markets that it is reviewing the spread of its huge foreign assets and may shift funds to Communist countries and the Third World. Finance Minister Jassim Khorafi, citing both political and economic factors for the move, listed China, the Soviet Union, India, Turkey and South Korea as likely investment targets for Kuwait, one of the richest Arab oil states.
Los Angeles Times Articles
|