In Tuesday's Middle East papers

Front page

HM, Gaddafi hold talks
His Majesty Sultan Qaboos Bin Said and Libyan leader Col Muammar Gaddafi held talks at the Bab Al Aziziyah Barracks in Tripoli on Monday.

4 killed in Kashmir police firing
A prominent Hurriyat leader was killed in police firing which claimed a total of four lives on Monday and curfew was quickly imposed in the state capital after a protest march by separatists and others in an attempt to cross the Line of Control against the “economic blockade” turned violent.

Business

New fixed-line phone firm to be named by year end
The operator for Oman’s second fixed-line telecom operator will be chosen by the end of this year and the last date for submitting the bids is Aug. 25, Naashiah Al Kharusi.

Dollar hits six-month high, oil off early highs
The dollar hit a six-month high against major currencies on Monday, driven by concerns that US economic problems are spreading to the rest of the world, while equities rose.

KHALEEJ TIMES                                                                 

Front page

Russia opens new front, drives deeper into Georgia
Russian tanks roared deep into Georgia on Monday, launching a new western front in the conflict, and Russian planes staged air raids that sent people screaming and fleeing for cover in some towns.

Pakistani accused of US troop attack gets doctor
A Pakistani woman suspected of links to Al Qaeda and accused of trying to kill US soldiers in Afghanistan was granted access to urgent medical attention by a US judge on Monday.

Business

Markets continue slide
UAE shares remained under intense pressure on Monday as investors turned to cash as a result of mounting uncertainties in the real estate sector and a change in central bank policy towards bank lending.

DIFC issues warning on investment scams
The Dubai International Financial Centre (DIFC) yesterday issued an alert to potential investors warning them of potential investment scams commenting, "certain e-mails involving investment scams claiming to represent leading decision makers in the business and financial community, inviting individuals to participate as brokers/agents in equity investment portfolio management programmes."

Front page

Govt urged to act quickly on ways to check prices
Acting Speaker of the Parliament Dr Mohammed Hadi Al-Huwaila asked the executive authority to immediately take the necessary measures to curb the soaring prices of basic commodities in the local market, especially during Ramadan. 

Govt comes under fire over failure to test food products
Ali Al-Omair slammed the government for its failure to test imported and locally manufactured food products.

Business

Kuwait enacts law cutting tax on foreign companies
Kuwait has enacted a bill cutting taxex on the earnings of foreign firms to 15% from up to 55% and exempting gains of foreign investors from trading on the bourse.

Downward trend of oil unlikely to continue for long
The mounting geo-political tensions in the oil-rich areas of the Middle East and Asia could put an end to a month-long downward trend of oil prices.

Front page

Agreement with UN nuclear agency gets Cabinet nod
The Council of Ministers yesterday approved the Kingdom’s agreement with the International Atomic Energy Agency (IAEA) on the application of safeguards in the framework of the Nuclear Non-Proliferation Treaty and its attached protocol.

Baha police arrest imam for burglarizing shops
An imam in a mosque in the western city of Baha was arrested on charges of burglary, local police said yesterday.

Business

Saudi shares rebound after deep plunge
The Saudi stock market rebounded yesterday and bucked the regional downward trend, recouping some of the losses incurred from the last three days after investors pulled out in part to new transparency rules which will come into effect on Saturday.

Global stocks up as oil tumbles, dollar increases
Global stocks rose yesterday, as a rising dollar dampened inflation worries and helped push oil and other commodities sharply lower.

TEHRAN TIMES

Front page

Iran, APA sign cinematic MOU
Iran’s Deputy Culture Minister for Cinematic Affairs, Mohammadreza Jafari-Jelveh, and the general secretary of the Asian Parliamentary Assembly (APA) Seyyed Mohammad-Hadi Nejadhosseinian, have signed a Memorandum of Understanding during a ceremony in Tehran on Sunday.

Iran, Algeria call for closer ties among Islamic states
Iranian President Mahmud Ahmadinejad on Monday held talks with visiting Algerian president Abdelaziz Bouteflika on ways to expand relations among Islamic states.

Business

Singapore growth slows as US woes take toll
Singapore said Monday economic growth slowed to an annual rate of 2.1% in the second quarter and forecast a decline in key exports, with experts saying the US slowdown had begun to hit Asia.

Australia central bank says room to cut interest rate
Australia’s central bank says it will have more room to cut interest rates because a “significant moderation” in domestic demand will slow inflation, cut economic growth by half and drive up unemployment.

ALJAZEERA

No news update

THE DAILY STAR

Front page

Berri expects Cabinet to get vote of confidence today
Speaker Nabih Berri said on Monday that Parliament will grant the national unity government a vote of confidence after a morning session on Tuesday.

Barak: Summer 2006 war backfired, strengthened Hizbullah
Israeli Defense Minister Ehud Barak said Monday the summer 2006 war backfired on Israel because it resulted in strengthening Hizbullah. Speaking to Israeli television network Channel 10, Barak said Israel was not prepared for the summer 2006 war, "which turned out into a major launching pad to upgrade Hizbullah's power.

Business

Nearly 90% of microfinancing market in Lebanon remains untapped
The potential microfinance market in Lebanon could be worth up to $286.1m, with only 11.5% of this potential demand currently being met by existing financing sources, leaving 88.5% of the market untapped, said a report by the International Finance Corporation (IFC), the private-sector arm of the World Bank.

Profit-taking reigns for second week on Beirut bourse
The Beirut Stock Exchange underwent a week of profit-taking in line with consolidating the rapid rise of the index over the past two months. Investors who had earlier discounted the news of the Cabinet's policy statement in their trading patterns, saw an opportune time to make gains.

GULF DAILY NEWS

Front page

Health Charter on way
A patients' charter is being drawn up following a string of negligence and other complaints against Bahrain's health service.

Deputy King praises US role
Deputy King Shaikh Salman bin Hamad Al Khalifa yesterday stressed the vital role of US and Allied forces in boosting security and stability in the region, by monitoring the Gulf.

Business

Gulf Air leases five aircraft
Gulf Air has signed a lease agreement for five aircraft with International Lease Finance Corporation (ILFC) as part of the airline's growth and expansion strategy.

Bahrain urged to adopt new tourism formula
The business community yesterday pushed for Bahrain to integrate the Tourism Satellite Accounting (TSA).

By: Staff Reporter
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