In Friday's Middle East papers

04 April 2008 05:30  [Source: ICIS news]


Front Page

Haitham meets Naruhito
Minister of Heritage and Culture HH Sayyid Haitham Bin Tariq Al Said on Thursday met Japan’s Crown Prince Naruhito and discussed with him issues of mutual concern.

Sadr calls million-man march against US
Baghdhad cleric Moqtada Al Sadr called on Thursday for a million-strong demonstration against US "occupation", a potentially destabilising show of force after his followers battled US and government troops.


Euro tumbles against dollar on weak data
The European single currency slipped against the dollar on Thursday as official data revealed slowing sales in the eurozone, analysts said. The euro fell to $1.5590 from $1.5687 in New York late on Wednesday.

Market crisis weigh on global growth: IMF
The turmoil in financial markets is the main threat to growth in the global economy, the International Monetary Fund's chief economist, Simon Johnson, said on Thursday.


Front Page

Major fire in Al Quoz again, paint warehouse gutted
Eight days after the massive fire in a cluster of warehouses in Al Quoz Industrial Area and a day after the Naif Souq fire in Deira, Dubai Civil Defence had to battle another blaze in a warehouse which stocked paints and chemicals in Al Quoz yesterday.

Expats to take up ban on rice exports with India
Several organisations representing Indian expatriates, particularly the Keralites, have decided to appeal to the Government of India to reconsider its ban on export of non-basmati rice from their home country.


5% inflation target for ’08 'not feasible'

UAE's move to target inflation at 5% this year to rein in sky-rocketing price increases would be ineffective unless the country adopts a flexible monetary policy, economic analysts said.

Emaar unveils Burj Park waterfront homes
Emaar Properties has unveiled Burj Park, a premium waterfront residential zone and the first of its kind within Downtown Burj Dubai, conveniently located within walking distance of Burj Dubai and The Dubai Mall. Burj Park also offers direct access to Burj Lake Promenade and to Park Island — a 25-hectre park located on an island accessible via a bridge walkway.


Front Page

Kuwait preparing to enforce mobile phone law for drivers
The Public Relations and Moral Guidance Department at the Ministry of Interior recently launched a nation-wide media campaign to increase public awareness on a law prohibiting the use of mobile phones while driving, which will take effect on 1 May, Assistant Undersecretary for Traffic Affairs Major General Thabit Mohammed Al-Muhanna said in a press release Wednesday.

Prosecution to grill 30 on tribal primaries
"Thirty people will be summoned by the Public Prosecution next week to be interrogated for taking part in the primaries for the Rashidi tribe from the fourth constituency," attorney Duwaim Al-Muwaizri told the Arab Times Wednesday.


Kuwait ’07 budget surplus expected to hit KD8.7bn
In its latest economic brief on the oil market and budget developments, NBK reports that after a month characterized by all-time highs, the price of Kuwait export crude (KEC) pushed closer towards the $100 mark in March, closing at $94.5 on 26 March, up $7 on the average price for February, though down from a high of $98.9 on 17 March.

KAMCO puts 70% shares of Al-Nozoul Holding up for sale
KIPCO Asset Management Company (KAMCO) announced Wednesday the private placement of 70 million shares through the newly launched Islamic investment company, Al Nozoul Holding Company KSCC during a press conference held at the company headquarters at Al Shaheed Tower in Sharq.


Front Page

‘Capitalism has failed to address major issues’
A three-day international conference on Islamic economics ended yesterday urging Islamic banks to address problems such as poverty and unemployment in Muslim countries.

Online campaign to protect girls from scandals
In a country where there are restrictions on unrelated men and women meeting outside without risking the ire of the authorities, it should come as no surprise that the internet has become a proxy for face-to-face social interaction.


Oil scene: A drab debate becomes interesting
Being at the top is not easy. Somehow Saudi Arabia, the world’s largest crude producer, has been dragged into the debate about Canadian oilsand and if it is clean enough to be used or not.

Benefit card for students launched
Students, youth and faculty members can now have a new identity and enjoy some exclusive privileges within the Kingdom and also when they travel abroad.


Front Page

(no news updates)


Front Page

Nato rebuffs Bush on new members
Nato has rejected the US president's push for former Soviet republics Ukraine and Georgia to join the alliance.

Farc 'rules out' early hostage deal
A senior leader of Colombia's Farc rebel group has ruled out any release of hostage Ingrid Betancourt until the government releases imprisoned rebel fighters, reports say.


Recession warning by US Fed chief
Ben Bernanke, the chairman of the US central bank, has admitted that the struggling US economy could fall into recession during the first half of this year.

Iraq airline signs deal with Boeing
Iraq has signed a contract worth $5.5bn with US aircraft manufacturer Boeing to buy 40 new aeroplanes, with an option to buy another 15.


Front Page

Kuwait to mediate between Riyadh, Damascus - daily
The emir of Kuwait plans to visit Riyadh later this week to mediate between Saudi Arabia and Syria, whose ties have deteriorated because of Lebanon's crisis, according to news reports published on Thursday.

Suleiman warns Lebanese are 'fed up' with political impasse
The commander of the Lebanese Armed Forces, General Michel Suleiman, announced in remarks published Thursday that he would leave his post in August and warned feuding political factions that he would bow out of the presidential race if his election as a compromise candidate is not secured by then.


Lebanon takes dive in World Bank's Knowledge Economy Index
Lebanon tumbled regionally and in the worldwide standings of the World Bank's Knowledge Economy Index, as reported in the most recent issue of Byblos Bank's Lebanon

China signs agreement to build oil refinery in Syria
Swiss bank UBS revealed a second round of subprime-related writedowns of about $19bn on Tuesday, becoming the world's worst-hit bank in the US mortgage crisis.


Front Page

Flag's up..!
The flag's up for the start of a record-breaking Bahrain Gulf Air Grand Prix. Crowds are expected to top 100,000 at the three-day event, which begins today with practice sessions at the Bahrain International Circuit.

Land probe row
A written warning was submitted yesterday by parliament to the government over lack of co-operation in a probe on reclamation of coastal areas.


TRA launches process to award third licence
Telecommunications Regulatory Authority (TRA) Bahrain has invited the industry to express interest and opinions on aspects of the award process of the third Mobile Network Operator (MNO) licence.

Bahrain benefits 'from China's economic push'
Bahrain is benefiting economically from China's growing economic power, according to a British professor. Political scientist and Exeter University professor of Arab Gulf Studies Tim Niblock says the Asian nation's increasing demand for oil has helped to boost economic stability.

By: Staff Reporter
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