In Thursday's Middle East papers

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

OMAN TRIBUNE

Bush in Israel on Nakba eve
US President George W Bush backed Israeli-Palestinian peace efforts at the start of a Middle East visit on Wednesday even as the Israeli military killed two Hamas fighters and two Palestinian civilians in Gaza Strip.

Terror strikes’ links ‘in neighbouring country’ - India
The federal government on Wednesday said the Jaipur serial blasts smacked of a "deep-rooted and very well-planned conspiracy" to disturb communal harmony in the country and suggested that the links of the terror strike were in a "neighbouring" country.

Oil edges away from record highs
Oil fell on Wednesday, edging away from record highs near $127/bbl after Iran assured it had no plans to cut exports and US inventory showed a rise in supplies of distillates.

Monsoon set to reach India early
India's annual monsoon rains, vital to its economy, are forecast to reach southern India a few days early, the government said, bringing cheer to rice exporters, who said good rain would end panic in the market.

China orders more choppers, troops, planes to quake zone
Chinese Premier Wen Jiabao ordered another 90 helicopters and 30,000 troops deployed to the earthquake zone, saying the battle to save lives was the top priority, state media reported Thursday.

Saudis to press Bush on Palestinian deal
Saudi Arabia will tell US President George W Bush on Friday that he must push for a settlement of the Palestinian problem if he wants to counter Iran's growing clout in the Middle East, analysts say.

Adwea set to launch major power plant
Abu Dhabi Water and Electricity Authority (Adwea) will receive bids from today from international bidders for setting up a 1500 megawatt power plant

Trade surplus to surge to $73bn
Driven by higher oil revenues, the UAE's current account balance is projected to grow by a record $24.2bn or 58% in 2008 to $65.9bn while the country's balance of trade is poised to surge 60% to $72.5bn in 2008, the International Monetary Fund (IMF) said.

Hindu and Muslim Indians rush to help Jaipur blast victims
When Indian television news broadcasts appealed for blood donors on Wednesday, a day after 63 people were killed in bomb blasts in India's Jaipur city, Yaseef Khan rushed to help.

Austrian kills wife, child, parents and father-in-law with axe
An Austrian man has confessed to hacking his wife, daughter, parents and father-in-law to death with an axe, leaving the bodies strewn at locations throughout the country, police said Wednesday.

Agility considering selling stake to foreign investors
Kuwait-based Agility, the Gulf’s biggest logistics company by market value, said on Tuesday it wants to attract more foreign investors as it seeks to expand abroad.

Sultan: combining brands raises scope of services
Tarek Sultan, Chairman and Managing Director, Agility, reviews the effect of combining a number of brands into one in an exclusive interview in ‘The Report: Kuwait 2008’, the latest of the annual business publications from Oxford Business Group (OBG).

Prince Faisal honors Almaeena for outstanding contribution
The Saudi Research & Marketing Group (SRMG) honored Khaled Almaeena on Tuesday for completing 10 years as editor in chief of Arab News and appreciated his outstanding contributions to the development of the English language daily.

Al-Shabab strike it rich in King’s Cup
Al-Shabab became the proud winners of the richest football tournament in the Middle East when they beat off-form Al-Ittihad 3-1 in the final last night of the King’s Cup for Champions at the King Fahd International Stadium in Riyadh.

Experts warn of more crisis
Growing inflation and price control mechanism put in place by the regional governments will have serious consequences, experts warned yesterday.

Kingdom aims to become leader in Desal technology
Fuhaid Al-Sharief, governor of Saline Water Conversion Corporation (SWCC), yesterday emphasized Saudi Arabia’s intend to become a leader in production and export of desalination technology.

Iran presents package of proposals to UN, EU
Iranian Foreign Ministry spokesman Mohammad-Ali Hosseini announced on Wednesday that Iran’s package of proposals was presented to the United Nations Secretary-General Ban Ki-moon by Iran's permanent representative to UN Mohammad Khazaei.

Iran asks UNESCO to name 2009 of "Ferdowsi Year"
Secretary-General of the Ferdowsi Foundation Yaser Movahhedfar announced that the foundation will offer an official proposal to UNESCO for the naming of 2009 as "Ferdowsi Year".

Spain economy expands the least since 2000 on housing
Spain’s economy expanded at the slowest pace in almost eight years in the first quarter as the global credit shortage exacerbated the country’s housing slump.

US could face mild recession, Greenspan quoted
US economic data suggests the world’s biggest economy could face a mild recession, former Federal Reserve chairman Alan Greenspan was quoted as telling Asian investors on Wednesday.

Damaged dam hampers China rescue
Earthquake rescue workers in southwestern China are facing a new hazard after "extremely dangerous" damage was identified at a dam in Sichuan province as thousands of people remained buried in towns and villages downstream.

Lebanon cabinet cancels crackdown
Lebanon's cabinet has endorsed a decision to revoke two measures that cracked down on Hezbollah and sparked fierce gun battles in Beirut last week.

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Siniora government reverses steps aimed at pressuring Hizbullah
Lebanon's politicial crisis showed early signs of resolution on Wednesday after the Cabinet rescinded two controversial decisions that had prompted deadly street battles in Beirut and other parts of the country last week. With an Arab League delegation having arrived in Beirut earlier in a bid to end the recent conflict between government

Syrian dailies back Hizbullah's 'legitimate defense'
Hizbullah's action in Lebanon during fighting with pro-government supporters was a "legitimate defense" to a coup attempt, the official Syrian press said on Wednesday.

Lebanon's latest crisis deals another painful blow to tourism sector
Lebanon's tourism sector was dealt another setback after the opposition closed all roads leading to Beirut's Rafik Hariri International Airport, Tourism Minister Joe Sarkis said on Wednesday.

Palestinians outraged
Palestinians expressed outrage yesterday as US President George W Bush began a visit to Israel on the eve of their commemoration of the "catastrophe" that followed the birth of the Jewish state. As Bush arrived at Tel Aviv's Ben Gurion airport, Israeli troops killed five Palestinians in the Gaza Strip, including three fighters.

China warns of dams threat
The death toll from China's deadliest earthquake in decades climbed to nearly 15,000 yesterday, as officials warned of calamities downstream from broken rivers and dams strained to bursting point.

Arig profit slips
Arab Insurance (Arig) saw net profit slump in the first quarter of the year as volatility in global financial markets took its toll. It earned a net profit of $3m compared to $7.6m for the same period last year.

Subsidy no cure
Subsidising basic food prices across the GCC may be a short-term solution for governments, but in the longer term it will result in food shortages. That was the claim of Standard Chartered Bank's Middle East and North Africa economist Mary Nicola.

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