In Wednesday's Middle East papers

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

OMAN TRIBUNE

80 killed in Jaipur serial blasts
Terrorists struck for the first time in Jaipur triggering eight serial blasts in a span of 12 minutes on Tuesday night in crowded market areas and near a Hanuman temple in the walled city leaving at least 80 killed and 200 injured.

HuJI role suspected in Jaipur blasts
Banned Harkat-ul-Jehadi Islamia (HuJI), operating from Bangladesh, is believed to be behind the serial blasts that rocked the tourist city of Jaipur on Tuesday evening.

Record prices, slowdown to curb oil demand: IEA
Record oil prices and a slowdown in advanced economies are set to curb global oil demand despite growth in China and the Middle East, the IEA forecast on Tuesday, saying stockpiling was a key factor.

Crude hits record near $127 as Iran mulls output cut
Oil surged to a record peak near $127 on Tuesday after Opec producer Iran said it was studying a plan to cut output despite signs that record high prices are hurting consumer nations.

Quake death toll continues to soar, goes upto 15,000
Military helicopters flew aid Wednesday to settlements cut off near the epicentre of a devastating earthquake that killed some 15,000 people and left tens of thousands missing in toppled buildings.

Bombings hit markets, Hindu temple in India
A series of bombs exploded across the ancient city of Jaipur, killing at least 60 people and transforming busy markets, a jewelry bazaar and a Hindu temple into scenes of carnage.

Airbus A380's new delivery schedule
Emirates airline, the biggest customer for Airbus's A380, said it has yet to determine how the new delivery schedule of the world's largest passenger plane would affect it in 2009.

Philippine peso drops on high oil prices
The Philippine peso has continued to weaken against the US dollar, dropping yesterday to 42.40, or 11.52 to the dirham, on speculation that high oil prices will further increase inflation and widen the nation's trade deficit.

Kuwait must intensify efforts to tackle human trafficking problem
Kuwait might again land in Tier 3 in the US Security Department’s Trafficking-in Persons (TIP) report for 2008, Charge d’ Affaires at the US Embassy in Kuwait Alan Misenheimer told Al-Qabas.

Kuwait in mourning after ex-Amir passes away
Kuwait announced three days of mourning on Tuesday after the death of Sheikh Saad Al-Abdullah Al-Sabah, who was briefly Amir of the Gulf Arab state in 2006, state media said.

Proper laws needed on stock trading which ensure fair play
Privatization means the transfer of ownership or management of a project/industry from the government to the private sector for increasing competition among companies which in turn brings forth capital flow in to the market, by generating additional foreign investments and job opportunities.

Kuwait sees oil capacity of 3mbbl/day in year
OPEC member Kuwait will raise its oil production capacity to 3 million barrels per day (bpd) in a year, state news agency KUNA on Monday quoteda top official as saying. "Kuwait will be able to produce 3mbbl/day in a year from now," Sami al-Rushaid, managing director of state-run upstream firm Kuwait Oil Company said, according to KUNA, without giving further details.

National Guard announces ‘legendary’ health care facilities
Custodian of the Two Holy Mosques King Abdullah yesterday attended a National Guard ceremony during which he laid the foundation stone for the King Saud University for Health Sciences. The establishment of the university was approved in March 2005.

Hands off Lebanon, Saud tells Iran
Foreign Minister Prince Saud Al-Faisal yesterday warned that Iran’s support for Hezbollah’s "coup" in Lebanon would affect Tehran’s relations with Arab and Islamic countries.

Alwaleed honored in US
Prince Alwaleed bin Talal, chairman, Kingdom Holding Company (KHC) and Kingdom Foundation (KF), received the Business Leader of the Year Award from the Foreign Policy Association (FPA) in New York on Monday.

Capivest posts 57% rise in net profit
Capivest, a Bahrain-based Islamic investment bank, has said that 2007 proved to be a profitable year for the bank. Its net profit rose to $16m which was an increase of 57% over 2006. Total income of the bank in 2007 rose to $31.9m while total assets grew to $325m.

Iranian, European musicians swapping knowledge
A series of workshops is currently underway by a number of Iranian and European musicians at Isfahan’s Naqsh-e Jahan Square.

Shahnameh documents the origin of the Iranian nation: scholar
Iranian author and scholar Mohammad Baqaii Makan believes that Ferdowsi’s Shahnameh is the title deed of Iranian paternal house and documents the origin of the Iranian nation.

UK April inflation rate jumps the most since 2002
Britain’s inflation rate jumped the most since 2002 to the highest in more than a year, making it harder for the Bank of England to support economic growth by cutting interest rates.

Barings sees China boom fuelling Russia growth
Chinese demand for oil and commodities is driving Russia’s growth, reducing its exposure to Western economies and offering good equity deals, Barings said.

Quake survivor search intensifies
The search for survivors of China's deadliest earthquake in 30 years is becoming increasingly frantic as the toll continues to mount.

Police seize documents at Olmert's old ministry
Israeli police raided the Trade and Industry Ministry on Tuesday and seized documents related to the latest corruption probe against Prime Minister Ehud Olmert.

Airbus confirms further A380 delay
Airbus, the European aviation giant, has said that it will fall short of planned deliveries until 2010 of its A380 superjumbo in a new setback for the world's biggest passenger jet

Hariri vows March 14 leaders 'will not surrender'
Parliamentary majority leader Saad Hariri vowed on Tuesday that the Western-backed ruling coalition would not negotiate with Hizbullah "with a gun pointed at our heads." Meanwhile, the commander of the Lebanese Armed Forces (LAF), General Michel Suleiman, said the country has witnessed in the past few days a "civil war.

Blasts hit Indian tourist city
Several explosions have torn through the Indian city of Jaipur, killing at least 60 people and wounding more than 100 others. Police said at least seven blasts hit the northwestern city on Tuesday in crowded areas, including markets.

Lebanon retains 'plenty' of food stocks
The Ministry of Economy and consumer groups said on Tuesday that the Lebanese market is flooded with food and wheat supplies, urging merchants not to hike prices under the pretext of the airport closure. In a statement to the press, the Ministry of Economy and Trade said that Lebanon has six months of wheat and flour supplies.

Moody's maintains Beirut's woeful credit rating
Moody's Investors Service on Tuesday said that the country's foreign and local currency government bond ratings remain at B3 with a stable outlook despite armed clashes.

Saudis warn Iran
Saudi Arabia said yesterday Iranian-backed Hizbollah's routing of the Western-backed government's supporters in Lebanon could affect the Islamic Republic's ties with Arab countries.

80 killed in serial blasts
Seven near-simultaneous bomb blasts tore through crowded markets in the Indian tourist city of Jaipur yesterday, killing 80 people and wounding 150 in what police said was a terror attack.

Firm developing $5.6bn projects
Mubadala Development Company, an Abu Dhabi investment firm which manages more than $10bn in assets, said yesterday its new real estate unit is developing at least $5.6bn worth of projects.

Sabic prices Islamic bond above Sibor
Sabic priced Islamic bonds worth up to $1.3bn at 48 basis points above the three-month Saudi interbank offered rate (Sibor), as demand far outstripped supply.

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly