In Tuesday's Middle East papers

20 November 2007 04:30  [Source: ICIS news]

MUMBAI (ICIS news)--These were the top stories at 4:30 GMT in the following Middle-East newspapers’ online versions on Tuesday. ICIS has not verified these stories and does not vouch for their accuracy. To go to the individual websites, click the links below:

The Times of Oman
Front Page

Peace conference: Arab nations to meet on 22 November
Arab countries are to meet next Thursday to adopt a common position ahead of a US-sponsored Mideast peace conference later this month, Saudi Foreign Minister Prince Saud al-Faisal said.

Election in Pakistan to be held on Jan 8: Musharraf
President Pervez Musharraf said he wants a national election to be held in Pakistan on 8 January, but despite pressure from the United States over the weekend he did not say whether emergency rule would be revoked beforehand.

Business

OPEC summit ends in division over weak dollar
An OPEC summit ended on Sunday in sharp political division over whether to take action over the weak dollar.

China may let yuan move more freely
China would consider letting its currency move more freely if necessary although it is comfortable with current settings, the central bank governor was quoted Monday as saying.

Oman Tribune
Front Page

Yeddyurappa resigns as Karnataka CM
Karnataka Chief Minister BS Yeddyurappa on Monday quit office after mercurial partner Janata Dal-Secular (JD-S) withdrew support to his government, exactly a week after he took over as the Bharatiya Janata Party's (BJP) first chief minister in the country's south.

Court rejects challenges to Musharraf re-election
Supreme Court, packed with government-friendly judges since the imposition of emergency rule, dismissed on Monday the main challenges to President Pervez Musharraf's re-election last month.

Business

Muriya to launch property development projects
Muriya, one of the single largest tourism development companies in Oman and a joint venture between Egypt’s ‘Orascom Hotels and Development’ and Oman’s government- owned company ‘Omran’ will announce the initial plans of the real estate development in its two Integrated Tourism Complexes (ITC) at an event to be held at Shangri-La’s Barr Al Jissah Resort and Spa on Tuesday.

Foster+Partners to design The Blue City
Al Sawadi Investment and Tourism (Asit) appointed Foster+ Partners to develop the master plan for Al Madina A’Zarqa (The Blue City), the most significant metropolitan development in Oman.

Khaleej Times
Front Page

Israeli, Palestinian leaders fail to bridge gaps
Israeli Prime Minister Ehud Olmert headed to Egypt to present Israel’s stand on a US-backed Mideast peace conference to the leader of a skeptical Arab world, after failing to bridge gaps in a meeting with Palestinian President Mahmoud Abbas.

Pak court throws out Musharraf challenges
Pakistan’s purged Supreme Court swatted away the main challenges to Pervez Musharraf’s re-election as president Monday, taking him a step closer to quitting as army chief and restoring civilian rule.

Business

Pegging to the US dollar entails
As financial turbulence in the US intensifies GCC countries are exposing their economies to increased risk by maintaining a dollar peg, according to a prominent US economist.

UAE real estate susceptible to speculative risk
Citing the rapid growth in real estate supply Professor Shiller said the sector appears increasingly speculative given the significant supply coming on to the market.

Arab Times
Front Page

Syria bans 7 human rights activists from travel abroad
Syrian authorities have banned seven human rights activists from leaving the country, a human rights group said Monday and demanded the measure be revoked.

Indian conservationists use world's hottest chili to keep wild elephants from villages
Wildlife experts in remote northeast India are experimenting with a new weapon to prevent marauding elephants from destroying homes and crops and killing people in villages close to their habitat--super-hot chilies.

Business

Opec pledges adequate, timely crude oil supplies
Opec heads of state pledged to provide "adequate, timely and sufficient" oil supplies to the market at the end of a summit in Riyadh on Sunday, but made no mention of dollar weakness despite the urging of some members.

NBK unveils new Sharia-compliant investment fund
National Bank of Kuwait (NBK) launches the third Islamic Sharia-compliant investment fund designed to meet the needs of its Thahabi customers for low risk investments that generate a consistent monthly income and which satisfy the requirements of local and international Sharia boards.

Arab News
Front Page

Cabinet approves new Tadawul board
Custodian of the Two Holy Mosques King Abdullah said yesterday that the third OPEC summit in Riyadh had been a resounding success in terms of participation and results. "A spirit of brotherhood and cooperation prevailed during discussions at the conference," he added.

Relief workers scramble to help storm survivors
Soldiers and relief workers raced yesterday to get aid to millions left destitute by the cyclone in Bangladesh, where the official death toll has topped 3,100 and is certain to rise.

Business

Cabinet decision sends Saudi stocks soaring
The Saudi stock market rebounded yesterday after the news that the Cabinet had appointed a new nine-member board of directors for Tadawul, the joint stock firm which is responsible for stock transactions, registration of ownership and publication of information about listed companies.

E-trading project for young on the anvil
BMG Financial Advisors, a leading provider of financial services in the Kingdom, has signed an Memorandum of Understanding (MOU) with Coffee Bean and Tea Leaf (CBTL) to explore the possibilities of introducing E-trading for young investors and provide them with financial research about the companies listed on the Saudi stock market (Tadawul).

Tehran Times
Front Page

Ahmadinejad suggests founding Asian scientific center
In an address to the Second General Assembly of Asian Parliamentary Assembly (APA) on Monday Iranian President Mahmud Ahmadinejad proposed the establishment of an Asian scientific, research and technological institute.

Tehran International Cartoon Biennial kicks off
The 8th Tehran International Cartoon Biennial commenced on 19 November at the Saba Art and Cultural Institute. From a total of 5571 submitted works 650 have been selected to compete in the three categories of cartoons, comic strips and caricature.

Business

Iran says will become self-sufficient in agro products soon
Iran’s Agriculture Jihad Minister Mohammadreza Eskandari here Monday vowed that the country will become self-sufficient in most products except oilseeds in the near future. Talking to MNA, he added that it takes the country much more time to become self-sufficient in oilseeds.

Housing, credit markets may hurt economy
The painful collapse of the housing market along with the credit crunch will weigh down economic growth in the final three months of this year and cause economic activity to lag in 2008. It all means that the risk of a recession has increased, economic forecasters say.

By: Staff Reporter
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