In Wednesday's Middle East papers

10 September 2008 06:00  [Source: ICIS news]



Front page

TRA to evaluate bids on Oct. 22
The Telecom Regulatory Authority (TRA) will evaluate on Oct. 22 the bids submitted by international telecom operators and consortiums for fixed line telephony, and the name of the winning company would be announced later in the month.

N-deal likely to be signed by Sept end: US
With the Nuclear Suppliers Group (NSG) granting waiver to India, the 123 agreement is expected to be presented before the American Congress in the next few days for its approval, required as the final step to conclude the Indo-US nuclear deal.


Opec keeps output stable, prices slump
Oil producer group Opec, which pumps 40% of world crude, is to keep its production unchanged at a meeting on Tuesday, the group’s president said, despite sinking prices and slowing economic growth.

Douglas bags RO30m Renaissance contract
Renaissance Services SAOG has awarded a RO30m ($78m) civil construction contract to Douglas OHI as part of a RO33m ($85.8m) investment programme in new facilities for contractors in Oman’s interior oilfields.


Front page

Bush to cut Iraq troops, boost forces for Afghanistan
President George W. Bush announced on Tuesday modest cuts in US troop levels in Iraq, a move that drew a sharp attack from opponents of the war pushing for a speedier drawdown.

Asif Ali Zardari sworn in as Pakistan's president
The widower of assassinated former Pakistani leader Benazir Bhutto took office as the country's new president on Tuesday, facing immediate pressure to crack down on Islamic militants and address daunting economic problems.


GDP Growth may Slow to 7.2pc: Merrill Lynch
The UAE economy is likely to see a slowdown in the second half of 2008 as a result of a rapid expansion in credit growth, rising inflation and increased funding costs according to a report by Merrill Lynch on Tuesday

Sabre Holdings and Emirates Sign Long-Term Agreement
The Sabre Holdings has signed a 10-year agreement with Emquest, the travel distribution division of Dubai-based Emirates, said a Press Release on Tuesday.


Front page

Amiri decree calls special labour session: Panel seeks sponsorship review
The Kuwaiti Parliament’s human rights committee called on Monday for a review of the sponsorship system to help stop employers from abusing hundreds of thousands of foreign labourers.

Kuwait warns on Bovine TB
Kuwait’s Municipality reiterated a warning to residents in the country to avoid buying dairy products from unregistered outlets that have not been inspected as these could carry the infectious and fatal disease Bovine Tuberculosis.


GCC member states shore up framework for forex union 
Gulf Arab oil producers are set to decide next week on the location of a regional central bank and could choose to speed up the ratification process for their monetary union deal, a senior Gulf official said.

Fitch upgrades long-term ratings of top Kuwaiti banks 
The Long-term IDR of National Bank of Kuwait is upgraded to ‘AA-’ (AA minus) from ‘A+’ and Short-term IDR to ‘F1+’ from ‘F1’ to reflect the bank’s leading domestic franchise.


Front page

‘Civil Defense ready to meet any emergency’
The Civil Defense in Makkah says it is prepared to respond quickly to any mishap that takes place during Ramadan. 

World organizations to help in disability research
Prince Sultan bin Salman, chairman of the board of trustees, signed 10 separate agreements for the Prince Salman Center for Disability Research at a ceremony held here on Monday night.


Saudis invited to Taiwan conference
Saudi business leaders and potential investors in the region are being invited by the Ministry of Economic Affairs (MOEA) of Taiwan, ROC, to attend the “2008 Taiwan Business Alliance Conference” in Taipei on Oct. 6-8.

Iran leads calls for OPEC oil output cut
Iran led calls yesterday for OPEC to cut output ahead of a meeting of the oil producer group, with analysts expecting the organization to begin scaling back production to help support prices.


Front page

US seeking permanent presence in Iraq: Larijani
Majlis Speaker Ali Larijani said on Tuesday the proposed security pact between Baghdad and Washington is aimed at perpetuating the presence for US troops in Iraq.

 Iran’s cinema losing viewers
The decrease observed in the number of film watchers across the country indicates that Iran’s cinema has lost 40m of its viewers over the past 15 years.


UK government unveils manufacturing plan for green economy
UK government unveiled a new strategy for manufacturing yesterday that aims to boost skills, exploit the opportunities of a low-carbon economy and bolster the sector’s image as an exciting place to work.

Spanish growth will return after structural change, Solbes says
The Spanish economy, which may deteriorate in the coming quarters, will ultimately benefit from two decades of structural transformation, Pedro Solbes, the nation’s finance minister, said.


Front page

Pakistan 'al-Qaeda leaders killed' 
 Three Pakistan al-Qaeda commanders, including a newly-appointed leader in Pakistan, have been reported killed in North Waziristan province, sources have told Al Jazeera.

US redeploys troops to Afghanistan 
George Bush, the US president, has announced 8,000 troops will be pulled out of Iraq over the coming months and 4,500 sent to Afghanistan by January.


Opec agrees to cut oil output 
Opec oil ministers have agreed to curb their collective output by more than 500,000 barrels a day.

Asian markets recovery falters 
Asian stock markets have fallen a day after global shares rallied following the US government takeover of troubled mortgage giants Fannie Mae and Freddie Mac.


Front page

Sleiman schedules start of dialogue for September 16 Lebanon's political leaders will begin a national dialogue next Tuesday in a bid to resolve their political differences, President Michel Sleiman announced on Tuesday.

Beirut earns no thanks for raising minimum wage to LL500,000
The Cabinet endorsed a plan on Tuesday to increase the minimum wage in Lebanon from LL300,000 to LL500,000 and a LL200,000 pay increase for all employees in both the public and private sectors. The increases will be paid retroactively as of May 2008.


No Egyptian gas for Lebanon until at least January - minister
Energy and Water Minister Alan Tabourian said on Monday that promised Egyptian natural gas supplies to Lebanon had been delayed to January 2009.

Bank Audi paints mixed picture of Syria's economic outlook
Bank Audi released on Monday its annual economic report on Syria. The report highlighted the main economic indicators in 2007 such as the GDP growth, balance of trade, construction activity, tourism as well as public expenditures.


Front page

GFH sells Banyan Tree desert resort 
Gulf Finance House (GFH) has agreed to sell the Banyan Tree Desert Resort and Spa to a Singaporean investor for an undisclosed sum.

Amwaj boats ban sparks protest 
A flotilla will take to the sea on Saturday, protesting against a ban on motorised boats within the Amwaj Islands breakwater.


Jittery Gulf stocks face turbulence 
Stock markets in Gulf states are increasingly jittery because of global economic uncertainty and shaky investor confidence and could face a roller-coaster ride ahead, economists said yesterday.

Albaraka unit operating income grows to $36m 
Banque Albaraka D'Algerie, a subsidiary of Bahrain-based Albaraka Banking Group, saw gross operating income increase by 47% to $36.34m in the first half of the year. After deducting operating expenses which dropped by 17pc, the net operating income achieved a 92pc improvement from $14.60m to $27.97m.


By: Staff Reporter
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