In Tuesday's Middle East papers

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

OMAN TRIBUNE

No breakthrough yet in Beirut talks
Qatari-led Arab mediators stepped up efforts to salvage talks aimed at ending Lebanon’s crisis on Monday after negotiations between the Lebanese government and the opposition hit a snag.

Mudflows bury 200 Chinese rescuers
More than 200 relief workers in quake-hit southwestern China have been buried by mudflows over the past two days, the Transport Ministry reported on Monday.

Oil falls below $127; dollar surges
Oil was below $127/bbl on Monday, after Opec's president said the producer group would not call an early meeting and was unlikely even at its September gathering to boost supply as the world had enough oil.

Nissan to invest in electric car project
Nissan Motor, playing catch-up in fuel-efficient motoring, said on Monday that it and NEC will invest $115m to mass produce new batteries for electric, hybrid and fuel-cell vehicles.

US manufacturers glum on Doha deal after new texts
A new proposal in world trade talks for cutting tariffs on manufactured goods reduces the chance of reaching a deal because it requires too little of major developing countries and too much of the US, a top US industry official said on Monday.

Translator spy in Iraq gets 10 years in jail
A translator who lied about his identity to get US nationality and kept copies of classified documents about the Iraqi insurgency was sentenced to 10 years in prison Monday, justice officials said.

Etisalat plans to make foray into Iranian market
Emirates Telecommunications Company, or Etisalat, is considering investments in the Iranian mobile-phone market as it seeks to expand internationally.

Dubai to host first GAC meeting in November
In a new initiative the Government of Dubai in conjunction with the World Economic Forum (WEF) will host the first meeting of Global Agenda Council (GAC) in Dubai on the 7 November to 9 November 2008 cementing a long-term agreement to host the meeting.

Old … new faces reheat the grill as voters dissolve a dissolution
Radical Sunni Islamists made a strong showing in Kuwait’s legislative election and minority Shiites gained one more seat, reflecting heightened sectarian sentiment and conservatism in the country.

Malaysia's Mahathir quits ruling party
Former Malaysian premier Mahathir Mohamad has quit the ruling party UMNO in protest over the leadership of his successor Prime Minister Abdullah Ahmad Badawi, his son said Monday.

Jazeera Airways profit surges 42%
Kuwait-based low-cost carrier Jazeera Airways, one of two publicly-listed Gulf Arab airlines, posted a 42% rise in quarterly profit compared with the same period last year.

KIPCO plans GDRs
Kuwait Projects Co (KIPCO) is in talks with international banks to sell global depositary receipts (GDRs) worth up to 15% of its share capital, a newspaper said on Sunday.

Identify causes of decline, scholar tells Muslims
M Umer Chapra, an eminent economist, social scientist and the winner of the King Faisal International Prize, has urged Muslims to identify the reasons for their decline.

No need to raise oil output: Kingdom
Saudi Arabia announced yesterday that current oil production was enough to meet market requirements and that producing countries could increase capacity if there were "actual additional" energy needs.

ICT key to economic development, says Badawi
Given the current global economic scenario, it is perhaps the most opportune time to put information and communications technology (ICT) to work in helping to overcome some of the challenges that the world is currently facing, Abdullah Ahmad Badawi, prime minister of Malaysia, said here yesterday.

OIC unit signs deal with ACE
Islamic Center for Development Trade (ICD), an arm of the Organization of the Islamic Conference (OIC), signed a cooperation agreement with Al-Harithy Company for Exhibitions (ACE) at a ceremony here on Sunday night.

(no news updates)

Myanmar to open up to foreign aid
Myanmar has agreed to allow its neighbours to co-ordinate foreign relief efforts in the cyclone-hit country at an emergency meeting. The Association of Southeast Asian Nations (Asean) announced the move on Monday following a meeting in Singapore with Myanmar's military rulers.

China braces for more aftershocks
Survivors of last week's devastating earthquake in China's Sichuan province are bracing themselves for more aftershocks.

( no news updates )

Doha: no breakthrough, but no breakdown either
Hopes for a breakthrough to solve Lebanon's 18-month-old political deadlock dimmed considerably on Monday with neither camp willing to make concessions at talks being held in Qatar's capital, Doha.

Civil society groups praise debate of new electoral law
The Civil Campaign for Electoral Reform (CCER) issued a letter Monday formally thanking Qatari Emir Sheikh Hamad bin Khalifah al-Thani for his efforts to include electoral reform as part of any political resolution arrived at between Lebanese leaders during talks being held by feuding factions in Doha, Qatar.

Economist warns of meltdown if no political solution is found
Lebanon will slide into a deep recession this year if there is no breakthrough in the political stalemate, economists warned on Monday.

Conditions in Baghdad fuel strong demand for motorbikes
At the side of a bustling street in central Baghdad scores of Iraqi youngsters keen to buy their first motorbike wander amid the engine fumes searching for a bargain. Welcome to the Vespa Souk.

Peace talks hit setback
Crisis talks between rival Lebanese leaders hung in the balance yesterday after the Hizbollah-led opposition rejected a Qatari proposal aimed at ending a stalemate which took Lebanon to the brink of civil war.

Foreigners flee attacks
Crowds of foreigners sought refuge at crowded community centres and police stations in Johannesburg yesterday as the death toll from a wave of xenophobic violence rose to 22.

Efficiency push
Trained Bahrainis will play a key role in attracting investments for the expansion of the kingdom's economic and social sectors, a government minister said yesterday.

Ithmaar Bank launches $1bn energy fund
Bahrain-based Ithmaar Bank has launched a $1bn Ithmaar Kazyna CIS Energy Fund. The fund, in partnership with Kazyna Capital Management, a subsidiary of Kazakhstan's Sustainable Fund, Kazyna, is expected to have a term of 10 years.

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