In Friday's Middle East papers

08 February 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 Friday. ICIS has not verified these stories and does not vouch for their accuracy. To go to the individual websites, click the links below:




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Hamas rebuffs Abbas truce offer

Hamas rejected Palestinian President Mahmoud Abbas’s offer to help negotiate a ceasefire as Israel pounded Gaza on Thursday, killing seven Palestinian fighters and a schoolteacher.


Share sale report wrong: Omantel

Oman Telecommunications (Oman-tel) said on Thursday that the government has not unveiled the percentage of shares it intends to sell to a strategic investor.




ECB holds rates, BoE shaves 25 basis points

The European Central Bank left its key lending rate unchanged at 4 per cent on Thursday as high inflation threatened the eurozone while the Bank of England cut rate by a quarter point (25 basis points) to 5.25% to support faltering growth in Britain.


Global stocks dip despite rate cuts, oil prices stable

European stocks dropped to their lowest close in two weeks on Thursday as a rate cut by the Bank of England and a more dovish tone from the European Central Bank failed to soothe worries about a global economic downturn.




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UAE, Germany in historic partnership

Matching their commitments to their convictions, His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and German Chancellor Angela Merkel yesterday reiterated their desire and determination to take UAE-German bilateral relations to new heights.

Ship’s anchor cut Gulf Internet cable
A ship’s anchor severed one of the undersea Internet cables damaged last week, causing outages that continue to affect business across the Middle East and South Asia, the cable’s owner said on Thursday.




India expects growth to slow to 8.7% in 2007/08

India expects its economy to expand 8.7% in fiscal 2007/08, slower than the previous year as higher interest rates dent consumer demand, and analysts expect growth to cruise at a similar speed next year.


Turkey, IMF agree on possible extra measures

Ankara has agreed with the International Monetary Fund that if it does not meet budget targets in the first quarter it will take additional measures, a senior Turkish economy official told Reuters on Thursday.




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Cricket-Gilchrist expects to play IPL, others in doubt 

Adam Gilchrist is still hoping to take part in the inaugural Twenty20 Indian Premier League (IPL) despite reports that Australia's top players will be prevented from competing.


Nepal police hunt Indian kidney scam fugitive 

Police in Nepal said Thursday they were hunting for the alleged mastermind of India's biggest illegal kidney transplant racket amid reports he was hiding out in the Himalayan nation.




New tax law for foreign firms seen boosting FDIs 

In its latest economic brief, National Bank of Kuwait (NBK) reports that, a much-awaited amendment to Kuwait's tax regulations affecting foreign companies doing business in Kuwait finally became law after it was published in the official Gazette on 3 February 2008.


Kuwaiti firm KOTC to order six oil tankers 

State-owned Kuwait Oil Tanker (KOTC) plans to order six new oil tankers including four giant crude vessels at a cost of $800m, the company chief said in comments published Wednesday.




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Al-Dabbagh gets 4-year extension as SAGIA chief
Amr Al-Dabbagh has received a four-year extension as governor of Saudi Arabian General Investment Authority (SAGIA), it was announced yesterday. Custodian of the Two Holy Mosques King Abdullah issued a royal decree extending Al-Dabbagh’s term.


Hamas rejects Abbas’ truce offer as Israel kills 7 in Gaza

Palestinian President Mahmoud Abbas offered to help negotiate a cease-fire as Israeli troops, backed by tanks, helicopters and warplanes killed seven Palestinians including Hani Naim, a schoolteacher, and wounded 14 others in attacks on the Gaza Strip yesterday.




IFC expands investment in eye care

IFC, a member of the World Bank Group, has partnered with Saudi Arabia’s Magrabi Hospitals and Centers to expand private eye care in (Middle East and North Africa) MENA region to address the need for high-quality ophthalmology services and bring world-class clinical and patient care to underdeveloped markets in the region.


Blame G-7 taxation, not oil prices

With OPEC insisting in Vienna last Friday not to open up its taps further--as demanded by major crude consumers, including the US--the cartel is in for a fair bit of criticism by Western pundits. And almost simultaneously a report on earnings of the major Gulf oil producers is also making rounds.




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By: Staff Reporter
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