In Tuesday's Middle East papers

22 January 2008 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

Gaza plunged into darkness after Israel lockdown 
Gaza was in darkness early Monday after its only power plant shut down for lack of fuel as Israel kept up a blockade of the Hamas-run territory in retaliation for rocket fire.

US says warplanes pound Al-Qaeda in Iraq targets 
US warplanes overnight pounded suspected Al-Qaeda havens on the southern edge of Baghdad for the third time this month, hitting more than 30 targets in a 35-bomb blitz, the military said on Monday.

Business

Share prices continue upward march 
The MSM-30 index closed 0.47 per cent higher yesterday at 9,703 points, driven by the gains posted by the industrial stocks which offset the losses of the banking scrips. Port Services (7.1%), Dhofar Insurance (6.9%) and Oman Cables (6.6%) were the major gainers while National Securi 

Bank Sohar launches Excel credit cards 
Bank Sohar yesterday announced the launch of Excel credit cards, incorporating a set of unique customer-friendly features, many of which are making a debut in Oman. 

OMAN TRIBUNE

Front Page

Gazans reeling from blockade
Gaza endured a fourth day of hardship on Monday as Israel kept up a punishing blockade over the Hamas-run territory, despite mounting international concern over a humanitarian crisis.

Prodi’s coalition loses majority
The small Catholic Udeur party withdrew its support for Italian Prime Minister Romano Prodi's ruling coalition on Monday, depriving the government of a majority in the upper house of parliament.

Business

Global markets tumble
It was a day of bloodbath on the global bourses with US President George W Bush’s tax plan to revive the world’s largest economy disappointing investors on Monday.

Indian shares crash 7.4%
Indian shares tumbled almost 11% to a four-month intra-day low on Monday, suffering their biggest intra-day points fall ever on margin calls and foreign selling, before paring their losses to end down 7.4%.

KHALEEJ TIMES

Front Page

Bears’ day in sun as Asian stock markets tumble
The bears were out in Asia’s stock markets on Tuesday as fears that a recession in the US could drag the region down with it prompted heavy falls on bourses from Tokyo to Sydney.

UNSC to hold emergency meeting on Gaza
The UN Security Council was to meet in emergency session Tuesday on the humanitarian crisis triggered by Israel’s crippling blockade of the Gaza Strip, in response to the firing of rockets into the Jewish state.

Business

Private sector urged to join Masdar initiative
Abu Dhabi Future Energy Company (Masdar) yesterday announced it would make $15bn investments in the renewable energy sector in the UAE and across the MENA region.

Dubai shares plunge 5.3%
The Dubai bourse plunged 312.66 points or 5.3% to close at 5,555.69 yesterday, its steepest decline in more than 14 months, following concerns that foreign investors may withdraw funds from the region to cover losses in the US. Shares in Abu Dhabi fell 1.6% at 4,618.05 points.

ARAB TIMES

Front Page

Violence mars Manila's religious festival, 3 dead 
Three people were killed and five injured in the Philippine capital after celebrations to mark a religious festival turned bloody, police said on Monday.

Luxury brands target Asians' desire to show off wealth 
Radha Chadha, a leading brand consultant, likes to tell the story of a Hong Kong businessman, a watch fanatic, who does a lot of his work in China.

Business

Clock ticks as UK scrambles for dealClock ticks as UK scrambles for deal 
British Prime Minister Gordon Brown rejected accusations Sunday that his government was using taxpayer funds to make the sale of mortgage lender Northern Rock more palatable for a private buyer.

NBK to attend WEF in Davos 
Chief Executive Officer of the National Bank of Kuwait (NBK) Ibrahim Dabdoub will take part in the World Economic Forum due in Davos on Wednesday for five days.

ARAB NEWS

Front Page

Cabinet approves consumer association
The Council of Ministers yesterday approved the formation of an association for consumer protection. It also set up an authority for railways and licensed the National Water Company.

Kingdom slams Gaza blockade
Saudi Arabia yesterday denounced the Israeli atrocities against the Palestinians in Gaza and West Bank and urged the Quartet to shoulder its responsibility toward protecting the human rights of Palestinians.

Business

World stock markets crash
Global stock markets plunged yesterday, with Tokyo tumbling to its lowest level in more than two years as US President George W Bush’s tax plan to revive the world’s largest economy disappointed investors.

Abu Dhabi to invest $15n in green energy, hydrogen plant
The Abu Dhabi government yesterday announced an ambitious sustainability program ever launched by a government--an initial investment of $15bn project to develop green energy and build the world’s largest hydrogen power plant.

TEHRAN TIMES

Front Page

Iranian MPs write to world parliaments on Israeli crimes
In a letter to world parliament speakers on Monday, 200 Iranian MPs condemned Israel’s ongoing massacre against Palestinians and called for bringing the Zionist criminals to justice.

Majlis speaker to visit Egypt next week
Iranian Majlis Speaker Gholam-Ali Haddad-Adel is scheduled to visit Cairo next week to attend the fifth Conference of Islamic Countries’ Parliament Speakers, Majlis National Security and Foreign Policy Committee spokesman Kazem Jalali said here on Monday.

Business

Iran, Italy carpet connoisseurs seek further ties
A group of Italian and Iranian carpet experts held a meeting in Bergamo Province of Italy to mull over the means for expanding bilateral ties and increasing the volume of carpet exports to Italy, Islamic Republic of Iran News Network (IRINN) reported.

Iran’s economy freer in 2007: report
Iran's economy is 44% free in 2007, according to the Heritage Foundation’s 2008 assessment, which makes it the world's 151st freest economy.

By: Staff Reporter
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