In Monday's Middle East papers

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

OMAN TRIBUNE

Front Page

Sudan severs ties with Chad after attack
Sudan cut diplomatic relations with Chad on Sunday after an attack on Khartoum by Darfur rebels which it said was supported by Chadian President Idriss Deby.

Olmert vows to impose 'calm' by force on Gaza
Israeli Prime Minister Ehud Olmert on Sunday blamed the Hamas for all attacks from the Gaza Strip and warned that “calm” would be imposed by force if they did not cease.

Business

Hyundai lays out growth plans for Sultanate
The Sultanate is a key market for Hyundai Motor Company in the GCC and the company is drawing up a strategy to become the top brand in terms of market share, according to BT Shin, Director, Hyundai Motor Company.

Mubadala to turn Abu Dhabi island into business zone
Mubadala Development, an Abu Dhabi investment arm which manages over $10bn in assets, said on Sunday it will develop an offshore island into a new business district that would house the stock exchange. 

KHALEEJ TIMES

Front Page

Sudan arrests opposition leader after rebel attack
Sudan arrested opposition leader Hassan al-Turabi and at least four top members of his party on Monday after the attack on Khartoum by Darfur rebels historically linked to him, aides said. 'Security forces came early this morning and arrested Turabi,' Awad Babiker, Turabi's private secretary, told Reuters.

US military, Sadrists battle over Baghdad barrier
A violent contest of will is taking place in Baghdad's Sadr City between US forces and Shia gunmen of radical cleric Moqtada al-Sadr over a three-mile barrier that will cordon off the northern and southern sectors of the district and help protect the capital's government centre from rocket attacks.

Business

Salam Yiti project to generate more than 2,000 jobs in Oman
Sama Dubai, the international real estate investment and development arm of Dubai Holding, yesterday announced that $2bn Salam Yiti project will generate more than 2,000 jobs, while contributing substantially to tourism development in Oman.

Unicorn earnings increase by 83%
Unicorn Investment Bank announces strong results for the three month period ended 31 March 2008. Earnings rose by $20m, or 83%, from $24m in the first quarter of 2007 to $44m in 2008.

ARAB TIMES

Front Page

Prime Minister eyes using new mechanism to appoint ministers 
The next government will be different as HH the Prime Minister Sheikh Nasser Mohammad Al-Ahmad Al-Sabah is keen on using a new mechanism to appoint ministers, reliable sources told the Arab Times.

Nursery program for prison moms 
Three-week-old Kevin fussed in mother Melissa Lankey's arms until she started singing softly to him, 'Jesus loves me, this I know, for the Bible tells me so.' The newborn began dozing within seconds.

Business

Vietnam starts construction on $6bn oil refinery with Kuwait, Japan help 
Energy-hungry Vietnam started building its second oil refinery on Saturday, a $6.2bn complex, in a bid to feed the nation’s booming economy, the State Oil company announced.

Bayan sees slight corrective action at start of week 
The stock market inaugurated this past week’s trading activities with substanial gains due in the main to a spike in trading in leading stocks, a report by the Bayan Investment indicated on Saturday.

ARAB NEWS

Front Page

Flat-out help for Makkah tent family
A number of philanthropists have offered accommodation to Abdullah, a Saudi veteran of the first Gulf War, who is living destitute with his wife and nine children in a tent in a derelict part of the Al-Azizia district of Makkah.

King Abdullah receives Blair
Custodian of the Two Holy Mosques King Abdullah yesterday held talks with Tony Blair, official envoy of the Quartet on the Middle East, at his palace in Riyadh.

Business

Asia’s trade outwits west’s aid in Africa
The World Bank is “broadly optimistic” that Africa is undergoing a fundamental change. After decades, Africa’s real GDP grew by over six percent in 2007, outpacing the world economic growth of about 5%. This is considered just short of the seven percent growth needed to reduce poverty.

Islamic funds outperforming conventional ones
Islamic equity indices are outperforming conventional indexes 2:1 in the regional equities sector, confirms Rushdi Siddiqui, Global Director of Dow Jones Islamic Market (DJIM) Indexes.

TEHRAN TIMES

Front Page

Old cameras, historical photos to go on display at IIDCYA
An exhibition of old and new cameras along with historical photos will open on May 13 at the Institute for Intellectual Developments of Children and Young Adults (IIDCYA).

Iran’s reserves in foreign banks hit $81bn
Iranian reserves in foreign banks in mid-February 2008 reached over $81b, Iran’s central bank announced on Sunday.

Business

Spain calls Iran 3rd trade partner in Persian Gulf
Special trade advisor to Spain’s embassy in Iran referred to the Islamic Republic as Spain’s third trade partner in the Persian Gulf.

South Africa faces up to “wage apartheid”
Whites in South Africa earn five times more than their black counterparts on average, according to a new study, illustrating the enduring legacy of apartheid 14 years after its abolition.

ALJAZEERA

Front Page

Myanmar cyclone toll rises  
Myanmar says the death toll from Cyclone Nargis that struck the country on May 3 has jumped by 5,000 to 28,458. The announcement came as the Red Cross aid agency said that a boat carrying vital relief supplies to cyclone survivors sank in the disaster zone after hitting a submerged tree trunk.

Fresh clashes rock Beirut   
Renewed gunfire was heard in Beirut in the early hours of Monday morning, after a day of relative calm in the city amid clashes between pro- and anti-government fighters.

Business

Nigeria unrest costs Shell dear  
The Shell oil company said it is losing the equivalent of 30,000 barrels of crude oil/day in Nigeria, due to attacks against its installations. The unrest in Nigeria, which is Africa's biggest oil producer, helped drive oil prices to a record high above $126 on Friday, analysts said.

THE DAILY STAR

Front Page

Day 5: Lebanese dare to hope worst is over
The Lebanese Army deployed heavily in the Aley district southeast of Beirut late Sunday following fierce clashes between gunmen loyal to Progressive Socialist Party (PSP) leader MP Walid Jumblatt and fighters from Amal and Hizbullah, leaving eight people dead.

Truce brings peace to Baghdad's Sadr City - for now
Guns fell silent in Baghdad's militia bastion of Sadr City on Sunday after the movement of hard-line Shiite cleric Muqtada al-Sadr struck a deal with Iraqi officials to end the fighting in the district.

Business

Kuwait goes with Japanese, South Korean refinery bids
Four South Korean and a Japanese firm were declared winners on Sunday of four major contracts worth billions of dollars to build a new refinery in Kuwait, an oil official said.

GLC vows more strikes until demands are met
Few Lebanese areas heeded the call of the General Labor Confederation (GLC) for a general strike on Wednesday to compel the government to raise their minimum wage.

GULF DAILY NEWS

Front Page

Battles rage on 
The army yesterday deployed across much of Lebanon after Hizbollah ceded control of west Beirut but clashes raged on in the north and in the Druze mountains as Arab foreign ministers held crisis talks.

Epidemic fear for 1.5m in Myanmar 
More than 1.5 million people are at risk from disease unless a tsunami-like aid effort is mobilised, aid agency Oxfarm warned last night. The warning came as desperate survivors of Cyclone Nargis headed out of Myanmar's Irrawaddy delta in search of food, water and medicine.

Business

$231m Sharia fund launched 
Bahrain-based Shamil Bank, Sharjah Islamic Bank and Swiss-based Faisal Private Bank yesterday launched €150m ($231m) Sharia-compliant Central and Eastern European Real Estate Fund.

Bite 2008 a sell out 
The Bahrain International Travel Expo (BITE 2008), opening on Wednesday evening, is a sell out, it was announced yesterday.

By: Staff Reporter
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