In Tuesday's Middle East papers

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

OMAN TRIBUNE

Front Page

Nearly 9,000 killed in China quake
Nearly 9,000 people died in the powerful earthquake that struck southwestern China on Monday. According to state media reports, more than 8,700 people were killed in the quake of 7.8 magnitude which struck close to densely-populated areas in Sichuan province, including the capital Chengdu, shortly before 2:30pm.

Saudi envoy joins Lebanon exodus, off to Cyprus by boat
Around 200 people fleeing the violence in Lebanon, including the Saudi ambassador in Beirut, have arrived in the nearby island of Cyprus, officials said on Monday.

Business

Oil hits record $126.40; gold plummets
The price of crude oil struck a record high $126.40 a barrel on Monday amid tensions in the Middle East and ongoing supply fears in Nigeria, traders said.

Indian rupee weakens past $42
The Indian rupee weakened past $42 for the first time in more than a year on Monday after data showing factory output grew at its slowest in six years raised concerns about a slowdown in the economy.

KHALEEJ TIMES

Front Page

China quake death toll rises to nearly 10,000
A powerful earthquake toppled buildings, schools and chemical plants Monday in central China, killing about 10,000 people and trapping untold numbers in mounds of concrete, steel and earth in the country’s worst quake in three decades.

Sharif’s party pulls out of Pakistan government
Former prime minister Nawaz Sharif pulled his party out of Pakistan’s six-week-old coalition government on Monday, plunging the volatile Muslim nation back into political uncertainty.

Business

Saudi Arabia threatens to stop oil exports to Taiwan
Saudi Arabia has threatened to halt oil exports to Taiwan over Taipei's reluctance to invest in Saudi Arabia's power and water desalination plant, a report said Monday.

UK economic data raises doubt over June rate cut
British economic data published Monday has heightened inflation worries, reducing the prospect of a fresh interest-rate cut by the Bank of England in June, analysts said.

ARAB TIMES

Front Page

Bodies of two Indians killed in Iraq to be repatriated by Indian embassy
The Indian embassy in Kuwait is coordinating efforts with the authorities concerned in Iraq to repatriate the bodies of the two Indian workers who were killed on Thursday in a bomb blast near Basra, an embassy official told the Arab Times on condition of anonymity.

Iran hangs 5 men convicted of rape and murder
A state-owned newspaper says Iran has hanged five men convicted of raping and murdering a young woman. The men were convicted of kidnapping the woman, raping her and then dousing her with gasoline and burning her alive.

Business

Kuwait Investors Holding, Libya to set up $2bn firm
Kuwait’s Investors Holding plans to set up a $2bn investment firm with the Libyan government and offer half the new company to foreign investors, the company said on Sunday.

Zenith eyes commodities
Global Investment House ‘Global’ announced today that its Zenith Fund is eyeing the strong opportunities in the commodity space,, in line with the Fund’s strategy to invest in the most attractive asset classes to generate robust returns for investors through different market cycles and conditions.

ARAB NEWS

Front Page

Kingdom urges Lebanese factions to accept Arab league proposal
Saudi Arabia yesterday urged Lebanese factions to stop fighting and withdraw their forces, advising them to accept the Arab League proposal to resolve the country’s political crisis.

PML-N quits government over judge’s issue
Former Prime Minister Nawaz Sharif pulled his party out of Pakistan’s six-week-old coalition government yesterday, plunging the volatile country back into political uncertainty.

Business

Saudi managers found to be poor communicators
A new study has revealed that managers in the Kingdom of Saudi Arabia are not as good as they think they are at communicating their organization's business objectives to their employees.

GCC inflation to rise by 3%: expert
Inflation in Gulf Arab countries is expected to rise by about three percentage points in 2008 and will continue to rise for years, an expert at a regional business bloc said yesterday.

TEHRAN TIMES

Front Page

Iran protests against Britain’s decision to remove MKO from terrorist list
Iran’s Foreign Ministry on Monday summoned British Ambassador Geoffrey Adams to "strongly protest" against a UK Court of Appeal ruling that supported the removal of the Mujahedin Khalq Organization from Britain’s list of banned terror organizations.

Salt men find permanent home in Zolfaqari House
The four salt men kept at the Rakhtshuikhaneh Museum in Zanjan have found a permanent home at the Zolfaqari House of the province.

Business

Iran to produce 60% of locomotive parts domestically
Iran plans to produce 60% of its locomotive parts domestically, deputy director of the Islamic Republic of Iran’s Railways Company for development affairs announced here on Monday.

Iran’s non-oil products export up 16% in calendar year
Iran’s non-oil products export growth rate was 16% in the previous Iranian calendar year (March 2007-March 2008), Iran’s Deputy Minister of Commerce Mehdi Ghazanfari said here on Monday.

ALJAZEERA

Front Page

Thousands killed in China quake
The toll from a powerful earthquake that struck southwest China has crossed the 10,000 mark, state media said. Buildings collapsed and telephone links in several areas snapped after the magnitude 7.9 quake struck 92km northwest of Chengdu, the capital of Sichuan province, at 2:48pm local time (06:28 GMT) on Monday.

UN hits out at Myanmar's generals
The UN has criticised Myanmar's military rulers for their "unacceptably slow response" to helping those affected by Cyclone Nargis. Ban Ki-moon, the secretary-general, expressed his "immense frustration" at the government and urged it to "put its people's lives first" and rapidly open its doors to international assistance.

Business

China's inflation rate hits upsurge
Consumer prices in China rebounded in April to near decade-high levels, increasing pressure on the government to do more to wind in soaring inflation levels. According to statistics released on Monday, annual inflation quickened to 8.5% from 8.3% in March.

THE DAILY STAR

Front Page

Day 6: Army warns armed groups to stay off streets
Lebanon's army said on Monday it would use force if necessary to impose law and order in the country and prevent any armed presence of any of the warring factions. "Army units will halt violations ... in accordance with the law, even if that leads to the use of force," a military statement said

Deadly rocket attack shakes Gaza-Israel cease-fire plan
A rocket fired from the Gaza Strip killed an Israeli woman on Monday, hours after Israeli Premier Ehud Olmert set conditions for a truce with Palestinian militants in the Hamas-ruled territory. The projectile slammed into a house in a small farming community near the Gaza border, killing one woman, an Israeli military spokeswoman said.

Business

(no news updates)

GULF DAILY NEWS

Front Page

Quake kills 9,000
China's most devastating earthquake in three decades killed nearly 9,000 people in western Sichuan province yesterday and razed 80 per cent of the buildings in one county, initial estimates said.

Ban raps slow aid response
The US sent its first aid flight to Myanmar yesterday, but experts warned the relief effort was floundering and 1.5m cyclone survivors were at grave risk from hunger and disease.

Business

BEXAIR to buy $26m aircraft
BEXAIR, the executive aviation company, is to expand its fleet by adding a Brazilian Embraer Legacy 600.

Seminar to focus on construction claims
The Ithmaar Development Company will hold a seminar on claims in construction at the Bahrain Society of Engineers (BSE), Juffair, today.

By: Staff Reporter
+44 20 8652 3214

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