Kuwait's Emir Sheikh Sabah Al-Ahmad Al-Sabah looked set Wednesday to dissolve parliament and call for an early election after holding talks with emirate leaders, MPs said. “We have received almost certain information that an Emiri decree will be issued within hours to dissolve parliament and call for early elections,” deputy parliament speaker Mohammad Al-Busairi told reporters. MP Khalaf Al-Enezi said that the elections would be held on May 17. MP Nasser Al-Sane earlier told reporters outside parliament: “We have heard that parliament has been dissolved constitutionally,” which means that an election will be held within 60 days. Earlier Wednesday, the Emir held talks with parliament speaker Jassem Al-Khorafi and other leaders including the crown prince, the prime minister and the first deputy premier and defense minister. The talks were held after Sheikh Sabah cut short a private foreign visit and returned home to settle a political crisis between the government and the opposition-dominated parliament. The crisis in OPEC's fourth-largest producer was triggered by the cabinet's resignation Monday, with the parliament accused of not cooperating. Emir Sheikh Sabah, being the head of all authorities in the Gulf state, had the option of either accepting the government resignation or issuing a decree dissolving parliament and calling early polls. The government blames parliament for the crisis, but the speaker said the government should share responsibility. “It is unfair to hold parliament responsible for all the negative issues because ministers also contributed to the crisis,” Khorafi told reporters outside parliament. Kuwait's stock market rallied to an all-time high Wednesday on investor hopes that a new assembly would endorse economic reform plans. The main index rose 1.5 percent to 14,450.40 points. Kuwait wants to diversify its economy away from oil to emulate the success of Gulf neighbors Dubai or Bahrain which have become regional financial centers. Parliament had made progress approving long-awaited reforms such as a reduction in taxes on foreign firms and privatization of the loss
