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The Gulf state of Kuwait is to test Rafale jets in June before making a final decision on buying the French-made warplanes, the defence minister was quoted as telling MPs on Sunday. "The defence minister told MPs that the deal is so far in the early stage of offers and making the technical assessment by the ministry," government spokesman Mohammad al-Baseeri told reporters outside parliament. "These will continue until June when the plane will be tested in Kuwait," Baseeri, also communications minister, said after Defence Minister Sheikh Jaber Mubarak al-Sabah had talks with parliament's interior and defence committee. "The defence...

Gulf states’ foreign assets to top $2,000bn By Simeon Kerr in Abu Dhabi Published: January 16 2008 19:30 | Last updated: January 16 2008 19:30 The net foreign assets of Gulf Arab states are set to rise to more than $2,000bn by the end of this year on rocketing oil prices, according to new research. The Institute of International Finance said the region’s public and private overseas wealth stood at $1,800bn (€1,211bn, £916bn) at the end of 2007. “High oil prices are enabling the GCC [Gulf Co-operation Council] governments to place a growing volume of resources into reserve and wealth...