In Thursday's Middle East papers

08 May 2008 04:30  [Source: ICIS news]

OMAN TRIBUNE

Israeli air strike kills fighter in Gaza
An Israeli air strike killed at least one Palestinian fighter in the Hamas-controlled Gaza Strip on Wednesday, medical workers said. The Islamic Jihad said one of its members was killed and six were wounded in the strike near the southern Gaza town of Khan Younis.

Myanmar toll may rise to 100,000: US
US officials in Myanmar are receiving information that there may be over 100,000 deaths in the delta area because of the cyclone that devastated the Southeast Asian nation, the top US diplomat in the country said on Wednesday.

Oil sets more record highs amid supply concerns
The price of oil struck a record high of $122.81 on Wednesday even after a large increase in US crude inventories amid concerns over tight supplies, traders said.

German banks’ profits fall sharply
Results from two German banks on Wednesd-ay showed that the knock-on effects of the US subprime home loan crisis are still being felt around the world.

First UN aid flights start arriving in Myanmar
The first UN's relief flights started to arrive on Thursday for cyclone victims in military-ruled Myanmar as a US diplomat said that more than 100,000 people may have been killed.

Serbs face a fork in the road as they vote again
In Sunday's snap elections Serbs are returning not necessarily for the last time, to a fork in the road - one pointing toward a largely clear, if difficult, path to Europe - and the other leading them into the unknown.

Real estate group to launch $1bn projects
Kensington, a Dubai based real estate group with a presence in the UK, India and Africa, is set to make its mark in the UAE real estate market with a signature commercial property strategically located in Dubai Maritime City.

Plus acquires $80m worth property in Ajman after Al Zorah deal
Plus Properties, a leading real estate developer in the Middle East, has acquired $80m worth property in the emirate of Ajman.

China orders all communities to be prepared for deadly virus
China's health minister ordered all communities to ramp up the fight against a viral illness that has sickened thousands of young children, as the death toll rose Wednesday to 28.

Philippines to continue importing rice in preparation for typhoon season
The Philippines will continue to buy rice on the international market to build local inventories in preparation for possible weather calamities during the typhoon season, the agriculture chief said Wednesday.

NIG mulls 10% stake sale to foreign investment bank
Kuwait’s National Industries Group Holding, the country’s biggest industrial conglomerate by market value, might sell a 10% stake to a foreign investment bank, its chairman said on Tuesday.

Kuwait realty sales rebound in March
In its latest economic brief on the monthly statistics of registered real estate contracts issued by the Ministry of Justice, excluding sales conducted through agents, National Bank of Kuwait reports that real estate sales rebounded in March following a sharp drop during the previous month.

Madinah to host international knowledge forum in June
The Saudi Arabian General Investment Authority (SAGIA) yesterday announced its plan to hold an annual international knowledge forum in Madinah on 22 June – 24 June.

All but over for Hillary, say analysts
After a huge win for Barack Obama in North Carolina, and with Indiana’s race so tight that it was only decided yesterday morning, news pundits are widely saying it is now all but over for Hilary Clinton.

ITFC signs 3 Murabaha deals worth $129m
The International Islamic Trade Finance Corporation (ITFC)--established by the Islamic Development Bank as an autonomous entity--has signed agreements totaling approximately $129m to finance three major deals in Morocco and Tunisia.

Kingdom plans $426m dockyard at Jeddah port
Under a Saudi-Malaysian pact, the Kingdom plans to build a $426m worth dockyard at the Islamic Port in Jeddah that will be able to store 2m containers, Minister of Transport Dr Jabara Al-Seraisry told delegates at the Euromoney Conference, which concluded here yesterday.

Tehran protests to Iraq over three Iranian islands
Iran has summoned Iraqi ambassador to Tehran, Mohammad Majid Al-Shaikh, to Foreign Ministry to protest over Baghdad’s support for the United Arab Emirates’ ownership claims over three Iranian islands in the Persian Gulf.

Iranian Filmmakers Celebration held at Enqelab Complex
Filmmakers from three generations of Iranian cinema were honored during Iranian Filmmakers Celebration in Tehran on Tuesday.

UK factory production unexpectedly fell in March
UK manufacturing unexpectedly declined and a measure of consumer confidence dropped to a four-year low as the slowdown caused by the seizure in credit markets spread through the economy.

Hungary economy to see recovery despite global uncertainty - PM
Hungary’s economic growth has bottomed out and will recover to 3% next year regardless of the uncertain growth prospects in the global economy, while the new minority government is stable, Prime Minister Ferenc Gyurcsany told reporters at a press conference on Wednesday.

Survivors struggle to stay alive
Survivors of the devastating cyclone that struck Myanmar last weekend are struggling to stay alive. Entire villages in the Irrawaddy delta remain submerged and tens of thousands are trying to avoid disease and find food and shelter.

Olympic torch scales Everest
A 19-member Chinese mountaineering team took a specially designed torch along with Chinese and Olympic flags to the world's highest peak on Thursday.

Oil prices steady after record high
Oil prices have steadied in Asian trading after hitting a record near $123 a barrel in the previous session on worries over supply disruptions. Prices were supported by concerns on Wednesday about supply disruptions in Nigeria, where production at a Royal Dutch Shell facility was cut after a weekend attack.

Opposition vows no retreat after day of clashes
A General Labor Confederation (GLC) strike turned political and violent on Wednesday when supporters of the opposition took to the streets and blocked the main road leading to Beirut's international airport in protest at the government's recent decision to sack the facility's security chief, General Wafiq Shoucair

Airport shut, at least 10 injured as mobs do battle in capital
At least 10 people, including two soldiers, were injured on Wednesday after a General Labor Confederation (GLC) strike which was meant to protest the government's economic policies turned violent, leading to the blocking of roads and armed clashes in several parts of Beirut.

Saudi investor backs out of Austian Airlines deal
Saudi Arabian investor Mohammad Bin Issa al-Jaber has sent a letter to Austrian Airlines (AUA) saying he wants to pull out of a deal to take a stake in the loss-making airline, AUA said on Monday. "Austrian Airline confirms the receipt of the letter of withdrawal" from Jaber's lawyers, the carrier said in a statement.

Oil reaches new heights on supply concerns
The price of oil struck a record high $122.81 on Wednesday amid concerns over tight supplies, traders said. New York crude reached the new high - beating Tuesday's record of $122.73 - despite news that US energy stockpiles had risen by a bigger than expected amount last week. In London, Brent crude also hit an all-time peak of $121.47.

Arab action urged
An Iraqi delegation on a visit to Cairo yesterday urged Arab nations to act against what it called the "Iranian occupation" of Iraq. "We would like a common Arab position to save Iraq and its people ...(in the face of) the Iranian occupation," Shaikh Majid Abdel Razzak Al Ali Suleiman said after meeting Egyptian Foreign Minister Ahmed Abul Gheit.

Beirut burns
Lebanon's long-simmering political crisis erupted into violent clashes between supporters of Iranian-backed Hizbollah and the US-allied government yesterday.

Expo turnout 'set to break all records'
More than 1,200 visitors attended gulfBID 2008 on the first day of the show, the largest number of any of the exhibitions to date. And the show is set to break records with total visitor numbers likely to exceed 5,000.

Bahrain Air to buy six planes
Bahrain Air is to purchase six new aircraft at a cost of $270m as part of its expansion plans, it was revealed yesterday.

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