In Thursday's Middle East papers

Front Page

Israel frees two Hamas, five Hezbollah men
Israel freed two senior Hamas officials and five Palestinian prisoners on Wednesday.

Government refuses to recall J&K governor
Faced with unrelenting month-long violence in Jammu and Kashmir, an all-party meeting convened by Prime Minister Manmohan Singh on Wednesday night appealed for a dialogue and creation of an atmosphere for suspension of agitation.

Business

Freddie Mac’s losses balloon to $821m in Q2
Troubled mortgage finance giant Freddie Mac on Wednesday reported a market-shocking loss in the second quarter as the US housing slump deepened and slashed its dividend at least 80 per cent.

Government refuses to recall J&K governor
Faced with unrelenting month-long violence in Jammu and Kashmir, an all-party meeting convened by Prime Minister Manmohan Singh on Wednesday night appealed for a dialogue and creation of an atmosphere for suspension of agitation.

KHALEEJ TIMES                                                                 

Front Page

Israel considers military option for Iran nukes
Israel is building up its strike capabilities amid growing anxiety over Iran's nuclear ambitions and appears confident that a military attack would cripple Teheran's atomic program, even if it can't destroy it.

Torch ascends Great Wall, Bush to rebuke China
Doves flew and confetti rained down as the Olympic torch was carried along the ancient Great Wall on a misty Thursday morning, the eve of Games that China hopes will demonstrate its modern-day strength.

Business

Abu Dhabi may impose controls to curb inflation
Abu Dhabi may resort to regulating capital investments including imposing caps on production and reigning in economic growth in future, in the event of higher-than-expected inflation.

DWC to invest in emerging markets
By next year the real-estate arm of Dubai World Central will invest in huge urban land projects in emerging markets worldwide as 2009 revenues are expected to hit Dh70bn, said the chief executive of DWC Real Estate.

ARAB TIMES

Front Page

Kuwait urges wisdom, stability 
“The Iranian officials’ threat to shut down Hormuz Strait in case of military attacks on Iran implies their intention to punish GCC nations as a whole,” Deputy Prime Minister and Minister of Foreign Affairs Sheikh Mohammed Al-Sabah told the Arab Times Tuesday.

More workers threaten to strike 
Bangladeshi workers of at least three companies are planning to go on strike if no steps are taken to redress their grievances, including better pay and living conditions, a Bangladeshi embassy official requesting anonymity told the Arab Times.

Business

Kuwait spending projected to swell 68% to KD 19bn
In its latest economic brief on public finance, National Bank of Kuwait reports that following its approval by the National Assembly, the Ministry of Finance has recently released.

Kuwait central bank’s move could signal dinar adjustment
The Kuwait central bank could be preparing to adjust its fixed exchange rate and attempting to push up interest rates to fight record inflation after a policy move aimed at deterring.

ARAB NEWS

Front Page

Call for legislation to stop child marriages
An 11-year-old boy gave out invitations to his classmates for a big event his family was planning this summer — and it wasn’t his birthday party.

Commerce Ministry sets up panel to oversee RCCI vote
The Ministry of Commerce and Industry set up a special committee to guarantee a free and fair election for the new board of directors of the Riyadh Chamber of Commerce and Industry (RCCI).

Business

Oil prices fall to 3-month low
Oil dropped to a three-month low under $118/bbl yesterday as rising US crude inventories heightened concerns of a demand slowdown in the world’s top consumer

Ethiopia offers huge land for Saudis to grow cereals
Saudi Arabia, which is making efforts to provide food security for its nationals, can look up to Ethiopia where huge tracts of unutilized agricultural land are available for growing cereals, according to Ethiopian Prime Minister Meles Zenawi.

TEHRAN TIMES

Front Page

Quran translator Fuladvand passes away at 88
Iranian scholar and the first translator of Quran into French, Mohammad Mehdi Fuladvand, died on August 5. He was 88.

NITC to become world’s third largest supertanker operator
The National Iranian Tanker Company plans to boost its fleet capacity to 14.111 million tons by 2011, NITC Managing Director Mohammad Souri said here on Wednesday.

Business

Japan says economy deteriorating, signals a recession
Japan’s government said the economy is “deteriorating,” acknowledging for the first time that the country’s longest postwar expansion has probably ended.

Iran to control ‘flames of inflation’
Iran’s newly-appointed minister of economy has said the ‘flames of inflation’ can be controlled within a year but not ‘completely tamed’.

ALJAZEERA

No news update

THE DAILY STAR

Front Page

Berri aims for Tuesday vote on granting new government vote of confidence
Parliament Speaker Nabih Berri said on Wednesday that the Parliament sessions aimed at giving the government a vote of confidence were likely to end on Tuesday.

Israel fears Hizbullah has advanced anti-aircraft on alert
Hizbullah has been able to establish a military presence north and south of the Litani River and is already prepared to a large extent to fire rockets and missiles on Israel, Israeli media reported on Wednesday Yediot Ahronot daily said Tuesday

Business

Lebanon needs '$2bn' to meet power demand
Lebanon needs to increase its current electricity output from 1,500 MW to close to 2,300 MW and this requires an investment of over $2bn, Energy and Water Minister Alan Tabourian said on Wednesday.

One in five Iranians live below poverty line – report
At least 14 million Iranians live below the poverty line, according to a central bank report quoted by the press on Monday, adding to concern about the welfare of those worst off in Iran as prices soar. The central bank figures, published in the reformist daily newspaper Sarmayeh, represent one in five of Iran's 70 million population.

GULF DAILY NEWS

Front Page

Threat to GCC
Kuwait said yesterday that an Iranian threat to close the Strait of Hormuz amounted to a "punishment" of its Arab neighbours."By making such remarks, the Iranian officials are hinting at punishing the GCC countries," Foreign Minister Shaikh Mohammed Sabah Al Salem Al Sabah said.

Alarm over rise in skin infections
Potentially dangerous skin infections have soared in Bahrain this summer, thanks to the heat, humidity and dust.Some can cause life-long problems and people should see a specialists if they think they may be infected, says Salmaniya Medical Complex (SMC) consultant dermatologist Dr Nedhal Khalifa.

Business

Damas may list on London exchange
Dubai-listed jewellery group Damas International may look into a second listing, possibly on the London Stock Exchange. "We have not ruled out a dual listing, possibly in London, since the first day of our initial public offering," Damas chief executive Tawhid Abdullah said. He did not say when the company would decide on seeking a second listing.

Gas shortage threatens Mideast energy projects
Middle Eastern gas supply cannot keep pace with the region's rapid expansion and fierce competition between industries could force some energy-intensive projects, such as aluminium, to be delayed or even shelved

By: Staff Reporter
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