In Friday's Middle East papers

05 September 2008 05:00  [Source: ICIS news]


Front page

Bashar sends peace proposals to Israel
Leaders of Syria, Turkey, France and Qatar on Thursday held a four-way summit in Damascus aimed at promoting peace and stability in Middle East. Syrian President Bashar Al Assad said a list of proposals has been sent to Israel via Turkish mediators aimed at laying the groundwork for direct peace talks between the two countries.

Situation still grim in Bihar
Efforts to rescue tens of thousands of villagers in northern India still cut off by a monsoon-swollen river have entered a critical stage, aid workers and evacuees say.


ECB, BoE keep rates steady
The European Central Bank (ECB) and Bank of England (BoE) left their key interest rates steady on Thursday with most analysts forecasting no change for the rest of the year despite recession fears.

After years, Iraq’s economy shows improvement: IMF
Iraq’s economic prospects are improving with increased security helping to boost oil output and exports, while inflation has declined, the International Monetary Fund (IMF) said late on Wednesday.


Front page

Bush advised to delay troop cuts in Iraq
President Bush's top defence advisers have recommended he maintain 15 combat brigades in Iraq until the end of the year contrary to expectations that the improved security in Iraq would allow for quicker cuts, The Associated Press has learned.

Rescuers can't get aid to starving Haitian city
The convoy rumbled out of the UN base toward a flooded, starving and seething city Thursday, carrying some of the first food aid since Tropical Storm Hanna killed 137 Haitians and drowned Gonaives in muddy water three days ago.


Credit Insurance Facility for Exports
For more than two weeks now exporters in Dubai and the whole UAE have the chance to insure their transactions with a credit insurance office, which ensures payment for their delivered products should buyers in the Gulf and overseas renege on their trade obligations.

Stock Market Declines 1%; Reliance Down
Indian shares dropped 1% on Thursday, weighed down by Reliance Industries Ltd, following a rise of more than a dollar in global oil prices and lingering worries about a slowing global economy.


Front page

Emergency session on expat labour set; MPs fear repeat of summer strikes
Kuwait’s parliament is to hold an emergency session on Sept 10 to debate violent protests by foreign workers over pay and living conditions, Speaker Jassem Al-Khorafi said.

‘Dial 5730098 to check for solutions to problems’; ‘Interior’ sets up hotline for illegal expatriates
Expatriates eager to legalise their illegal residency status would be more than welcome to do so and the Interior Ministry would help on this aspect, said an official.


GCC economic figures the real deal
The following is a report prepared by National Bank of Kuwait (NBK) which focuses on GCC budget balances.

Kuwait lets dinar ease as dollar rallies
Kuwait unusually allowed the dinar to fall twice against the rallying dollar on Wednesday as the central bank decided not to move in lockstep with the greenback.


Front page

Women’s varsity to have new campus - King Abdullah to lay foundation soon
Custodian of the Two Holy Mosques King Abdullah will lay the foundation stone of the new campus of Kingdom’s first women university shortly, Princess Al-Jowhara bint Fahd, president of the university, announced yesterday.

Stream of visitors from Riyadh head to Makkah, Madinah
Many people from the capital have left for Makkah and Madinah in the first three days of Ramadan. Besides people traveling by air, more than 75 luxury buses left for the two holy cities on Wednesday afternoon.


Oil Scene: No warning bells in OPEC capitals yet
All eyes are focused on Riyadh. With calls from within the Organization of the Petroleum Exporting Countries (OPEC) to have a close look at its current output practices, the Saudi stance on the issue is eagerly awaited.

Nissan unveils first clean-diesel car in Japan
Nissan Motor Corp. launched yesterday its first clean-running diesel vehicle in Japan in a bid to open up a new market by rebranding the fuel as eco-friendly.


Front page

Iran flatly rejects PGCC statement @H= Tehran calls PGCC statement ‘baseless and unacceptable’
Foreign Ministry spokesman Hassan Qashqavi on Wednesday said the statement released by the Persian Gulf Cooperation Council (PGCC) over the Iranian islands is a manifestation of "interference in Iran’s internal affaires" which are "baseless, repetitious and unacceptable".

Rare manuscripts of Quran on display at Tehran exhibit

A collection of rare manuscripts of the Holy Quran attributed to the Imams are currently on display at the 16th annual International Holy Quran Exhibition.


Spain’s radical plan for migrants
On the northern outskirts of Madrid, the Tres Cantos railway station is getting a makeover.

Inflation control to be focus of new India RBI chief
India’s monetary policy is likely to retain its inflation-control focus even after Duvvuri Subbarao takes over the reins at the Reserve Bank of India later this week, as consumer prices remain way above the central bank’s target, according to analysts.


Front page

McCain accepts party nomination
John McCain, the US Republican presidential candidate, has formally accepted the party's nomination in a speech at its convention in St Paul, Minnesota.

US troops 'should stay in Iraq'
Senior military advisers have recommended that the US president maintain current troop levels in Iraq until the end of the year, Pentagon sources say.


Deal agreed over TNK-BP oil venture
British and Russian shareholders have announced an end to a months-long feud for control of TNK-BP, the joint oil venture.

German bank to slash 9,000 jobs
Commerzbank aims to cut almost $2.95bn in costs by slashing 9,000 jobs after buying Dresdner Bank.


Front page

Nasrallah reaches out to family of slain LAF helicopter plot
Hizbullah leader Sayyed Hassan Nasrallah said on Thursday that his group will not surrender its weapons "as long as Israeli threats persist." "These weapons will remain because they are used for defence," Nasrallah said in a televised speech during an iftar hosted by the Hizbullah Support Committee.

Siniora vows to raise wages, predicts 'calm' dialogue
Prime Minister Fouad Siniora said on Thursday his government will approve salary raises in a Cabinet session next week, adding that the Lebanese should double efforts to preserve stability in their country.


Lebanon's minimum-wage row on next week's Cabinet agenda
The Cabinet is expected to meet next week to look into the proposal of finance minister Mohammad Shatah to raise the minimum wage to LL500,000 ($333) amid indications that this suggestion may not be settled in one session. Labour Minister Mohammad Fneish told the daily star on Thursday that he would give his opinion.

Forex? What is it, anyway?
The currency trading (FOREX) market is the biggest and fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars.


Front page

BD17m library opening set
The new BD17m Shaikh Isa National Library in Juffair is to be officially opened before the end of the year, it has been revealed.

Lone man's protest put on hold

A Bahraini worker has agreed to put his one-man protest against Bapco on hold, while union officials investigate his victimisation claims.


Banks hold key rates despite recession fears
The European Central Bank and Bank of England left their key interest rates steady yesterday with most analysts forecasting no change for the rest of the year despite recession fears.

Safe shopping
Bahrain city centre has recruited over 140 security staff and installed nearly 300 closed circuit television cameras to make the mall one of the safest places to shop in the GCC.

By: Staff Reporter
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