In Wednesday's Middle East papers

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

OMAN TRIBUNE

Front Page

Bombings kill 62 across Iraq, US blames Al Qaeda
A spate of bombings across Iraq, wh-ich the US military blamed on Al Qaeda, and a fresh surge of fighting between militiamen and US forces in Baghdad killed at least 62 people on Tuesday.

Congo plane crash kills 19
Congolese airline Hewa Bora said most of the 79 passengers on board its plane which crashed on Tuesday onto a crowded market district in the eastern town of Goma had survived the accident.

Business

Oil prices cross record $113
Oil prices jumped to a new peak near $114 a barrel on Tuesday amid lingering supply worries and weakness in the US dollar, deepening concern in world consumer nations that a spike in energy costs could cause severe economic damage.

Delta, Northwest to merge, form world’s largest airline
US carriers Delta Air Lines and Northwest Airlines are combining to form what will be the world's largest airline if regulators and stockholders approve the deal, the two companies said.

KHALEEJ TIMES

Front Page

UN Security Council calls for disarming Hezbollah
The UN Security Council called Tuesday for the disarming of Hezbollah and all other militias in Lebanon and greater progress toward a permanent ceasefire and long-term solution to the conflict between Lebanon and Israel.

China's new bid to end Iran dispute
China edges nearer the centre of contention over Iran’s nuclear ambitions on Wednesday by hosting talks of diplomatic powers on whether to offer stronger incentives to Iran to curb atomic work.

Business

Lower interest rates, increasing competition cut banks' margins
The liquidity in the banking system is high on the back of oil revenues but the impact of lower interest rates due to the dirham's peg to the US dollar and increasing competition in the banking sector is reducing profit margins.

Global Travel and Tourism summit to start next week
In less than a week from now (20 April to 22April), government and industry leaders will converge in Dubai for the annual Global Travel and Tourism Summit.

ARAB TIMES

Front Page

Australian Aborigines used for medical tests
Some Aboriginal children taken from their parents under past government policies were used as guinea pigs in medical experiments, an Australian Senate inquiry was told Tuesday.

Poisonous algae bloom threatens giant Chinese lake
A pollution-linked algae bloom has reappeared in China's third-largest lake, prompting renewed fears for the drinking water supplies of millions of residents, state press said Tuesday.

Business

KAMCO not in talks with US banks
Kuwaiti fund manager KIPCO Asset Management Co (KAMCO) said on Monday is not in any talks with a US bank to sell a stake in the firm Daily Al-Watan said on Sunday, without citing anyone, that an unidentified US investment bank has been looking to buy a stake in the Kuwaiti fund manager, though the plan was on hold for the moment.

Jazeera eyes growth in Saudi
Kuwait and Dubai based Jazeera Airways, the only international airline in the Middle East that is neither owned nor subsidized by any government, unveiled today that Saudi Arabia will be among its top three growth markets in the next five years.

ARAB NEWS

Front Page

Naif warns against profiteering in flour
Interior Minister Prince Naif yesterday warned profiteers who sell flour at prices higher than those set by the General Organization for Grain Silos and Flourmills (GOGSF), saying they will be detained and their shops shut.

Charity alone will not help poor: JCCI chief
The head of the Jeddah Chamber of Commerce and Industry (JCCI), who is attending a forum here, said charity alone is not eradicating poverty and called on Saudi businesses to institute programs to help develop and expand the Kingdom’s middle class.

Business

Al-Khaleejiah sponsors Dubai Lynx award
Al-Khaleejiah, a subsidiary of the Saudi Research and Marketing Group (SRMG), is the sponsor of the print media category at the 2nd Dubai Lynx, the Middle East and North Africa Advertising Awards for Creative Excellence.

Mideast, Asia ‘key to global economy’
Sheikha Lubna bint Khalid Al-Qasimi, UAE minister of foreign trade, yesterday opened the 2nd Middle-East Asia Leadership Forum in Dubai. Around 400 CEOs from Gulf States, China, Hong Kong, Thailand, India, and Malaysia are attending the two-day event that started at Jumeira Tower Hotel.

TEHRAN TIMES

Front Page

Caspian legal regime must respect Iran-Soviet accords: Tehran
Foreign Minister Manuchehr Mottaki on Tuesday said the legal regime of the Caspian Sea should be determined in line with former deals agreed by Iran and the Soviet Union.

Canada’s Hot Docs filmfest to shine "Spotlight on Iran"
Hot Docs, the Canadian international documentary festival is scheduled to screen four Iranian movies in its "Spotlight on Iran" section this year.

Business

Zimbabwe’s economy flounders amid election confusion
More than two weeks after Zimbabwe held its elections, the dithering over the result shows little sign of ending.

German investor confidence unexpectedly fell in April
Investor confidence in Germany unexpectedly fell in April on concern faster inflation, a stronger euro and fallout from the US housing recession will hurt company earnings.

ALJAZEERA

Front Page

Aircraft in deadly Congo crash
A passenger aircraft with 85 people on board has crashed into a busy market in the Democratic Republic of Congo. Conflicting reports put the toll of Tuesday's crash at between 21 and 70 people.

Dozens dead in Iraq bombings
Several bombs have gone off in cities across Iraq, killing more than 60 people. In Diyala, 60km north of Baghdad, province a car bomb exploded near a crowd of people outside a courthouse killing at least 40 people and wounding 80, according to Iraqi officials.

Business

Brazil uncovers 'major oil find'
Brazil has discovered what may be the third largest oil reserve in the world, off the coast of Rio de Janeiro. The find by state-run oil company Petrobras, in partnership with BG Group and Repsol-YPF, could be the biggest discovery in 30 years, according to the head of Brazil's National Petroleum Agency announced on Monday.

US airlines merger largest in world
US carriers Delta Air Lines and Northwest Airlines have agreed to merge in a $17.7bn deal that will create the world's largest airline.

THE DAILY STAR

Front Page

Berri blasts Siniora bid to portray Syria as root of crisis
Lebanese Speaker Nabih Berri criticized Tuesday "attempts to portray the political crisis in Lebanon as one between Lebanon and Syria and not an inter-Lebanese crisis." Berri was referring to Prime Minister Fouad Siniora's efforts to hold an Arab foreign ministers' meeting with the aim of healing the strained relations between Beirut and Damascus.

Gemayel, Zaki headline reconciliation confab
"People do not learn from history, but learn history - through bitter trials, rather than from what is written and read concerning the past," former President Amin Gemayel said during a conference on Tuesday to mark the signing of mutual forgiveness pacts by Lebanese Christian and Palestinian leaders and commemorate the 33rd anniversary of the eruption of the 1975-1990 Civil War.

Business

Progress report on Paris III conference gives good marks to Lebanon
Whereas the political stalemate and concerns about the security situation have weighed on the economic outlook, the government has intensified efforts successfully to increase the primary surplus as a result of increased revenues, tight expenditure measures and substantial budget reforms.

GULF DAILY NEWS

Front Page

Monarchy 'finished'
Nepal's Maoists said yesterday the abolition of the Himalayan nation's monarchy was now just a "matter of procedure" as they held a commanding lead in the count from last week's landmark elections.

Iran hopeful of talks success
Iran says it plans proposals to help end a row over its nuclear ambitions but at the same time it is raising the stakes before world powers meet by expanding work the West fears could produce bombs.

Business

Mace to manage $450m First Bahrain project
First Bahrain Real Estate Development has appointed global consultants Mace to project manage its signature $450m development located in Seef district.

Inflation bites
Soaring inflation is the Gulf region's biggest challenge and currency pegs to the ailing US dollar are only adding fuel to the fire, a businessman and member of Abu Dhabi's ruling family said yesterday.

By: Staff Reporter
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