In Tuesday's Middle East papers

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

OMAN TRIBUNE

Front page

Pak troops fire on US copters
Pakistani security officials said on Monday that soldiers had fired on US military helicopters and forced them to turn back to Afghanistan, but both the Pakistani and American militaries denied the incident.

Delhi bomb suspects identified
Police said on Monday they were closing in on several suspects after bombs killed 21 people in the capital as speculation swirled that Home Minister Shivraj Patil’s days were numbered. 

Business

Lehman, Merrill crises wallop global markets
Global markets plummeted on Monday after investment bank Lehman Brothers filed for bankruptcy protection, rival Merrill Lynch agreed to be taken over and the Federal Reserve threw a lifeline to the battered financial industry. 

Tender Board signs RO2.12m e-tendering contract
The Tender Board on Monday signed a RO2.12m worth e-tendering contract with Imtac and C1 India to enable all local and international vendors to use the web to register and renew registration with Tender Board, besides prepare, review and approve the final tender documents online.

KHALEEJ TIMES

Front page

Iran blocks probe of alleged atom bomb work
Iran has stymied a UN inquiry into whether it covertly researched how to make an atom bomb while steadily expanding uranium enrichment in defiance of international demands, a nuclear watchdog report said on Monday.

McCain, Obama promise Wall Street overhaul
Fearing a meltdown on Wall Street, the US presidential candidates sparred on Monday over who could best restore financial health, with John McCain pledging reform and Barack Obama saying hands-off Republican policies were the problem.

Business

UAE shares slide as crisis hits US financial sector
Shares in Dubai retreated for a fourth day, losing 1.7% at 4,044.27 on Monday as Gulf Arab indexes fell due to a drop in oil prices and after investors fled emerging markets fearing further declines from a US investment bank’s bankruptcy.

$1bn Gulf Central Bank by 2009
The much-anticipated Gulf Central Bank (GCB) will soon become a reality if GCC ministers agree on its institutional structure at a crucial meeting this week, officials with the Dubai International Financial Centre (DIFC) Authority said.

ARAB TIMES

Front page

‘Sleeper cells’ found in probe of expat files 
Despite claims that the emergency parliamentary session on the problems of expatriate workers last Wednesday failed to yield the expected results, highly reliable sources from the National Assembly asserted the session succeeded in tackling a number of sensitive and controversial files, reports Al-Nahar.

Kuwait politics going in the right direction; Don’t blame MPs for all the problems
Women in Kuwait won their political rights after a long-drawn struggle due to sheer determination, and the dynamics that propelled the movement were purely internal in nature with no interference, whatsoever, from any foreign quarters.

Business

KSE losses estimated at KD12bn for past 90 days 
Since the start of correction efforts last June and until today, the Kuwait Stock Exchange (KSE) has suffered losses of about KD12bn, as indicated by market analysts on Sunday, who expected a rise in the coming future.

Global values Wataniya Telecom stock at KD2.578 
In FY2007, total active customers of Wataniya group increased to 9.54m versus 7.25m during FY2006, an increase of 31.6%.

ARAB NEWS

Front page

Olmert makes 11th-hour pitch for peace deal
Israeli Prime Minister Ehud Olmert said yesterday that every day Israel and the Palestinians fail to reach a peace agreement is one more day that will weigh negatively upon future generations. 

2,500 assigned to security duties at Grand Mosque
Around 2,500 police officers and soldiers are currently attending to security at the Grand Mosque in Makkah, said Gen Yusuf Hussein Matar, commander of the Grand Mosque Security Forces.

Business

Lehman bankruptcy sparks global turmoil
Global stock markets plunged yesterday as the dramatic collapse of US investment bank Lehman Brothers sparked sharp losses across the financial sector on fears more bad news is to come.

'Dark Brown Monday' effect on global markets
It is not exactly "Black Monday" or even "Black September" when in the early 1990s the financial markets in London went into a free fall after a speculative run on the pound and forced the UK to abandon the exchange rate mechanism (ERM) and the Bank of England to inject billions of pounds into the market to prop up the sterling.

TEHRAN TIMES

Front page

Vital centres totally safe: Air Force commander
The commander of the Khatam-ul-Anbia Air Base said on Monday that Iran has formulated and implemented plans to protect its vital centres from enemy attack.

Vahdat Hall setting up puppet museum
The managing director of the Vahdat Hall announced that they are planning to establish a puppet museum that will display puppets from around the world.

Business

World may face ‘Japan-like’ economic stagnation, GIC’s Tan says
The world may face “Japan-like” economic stagnation as turmoil in financial markets weighs on growth and challenges the ability of policy makers to manage the crisis, Government of Singapore Investment Corp said.

Precious stones industrial parks to be established
Iran’s cabinet gave the nod to the establishment of precious stones industrial parks in Isfahan Province and the Khorasan region.

ALJAZEERA

Front page

Markets devastated in Lehman's wake 
Asian stocks have taken a severe beating as the global fallout from the collapse of US investment bank Lehman Brothers deepened.

South American leaders back Morales 
South American leaders at a crisis summit in Chile have issued a statement strongly supporting Evo Morales, the Bolivian president, and rejecting any break-up of Bolivian territory.

Business

Flight staff against Alitalia deal 
The four main unions representing staff at struggling Italian airline Alitalia have agreed to a plan to prevent the carrier's collapse.

Euro ministers reject stimulus plan 
Finance ministers from the 15 countries who use the euro currency have ruled out a sweeping stimulus plan to ward off recession but gave themselves some extra room for manoeuvre on spending.

THE DAILY STAR

Front page

'Tehran still stalling on nuclear probe' - IAEA report
Iran is continuing to stall on a UN investigation into its disputed nuclear program, refusing to provide access to documentation, individuals or sites which could reveal the true nature of its activities, the UN atomic watchdog said Monday.

Female suicide bomber kills at least 20 Iraqis during iftar
A female suicide bomber blew herself up in a crowd of people during an iftar in the Iraqi province of Diyala on Monday, killing at least 20 people and wounding around 30, a top military officer said.

Business

Oil prices hit seven-month lows on series of shocks to markets
Oil prices plunged to seven-month lows near $91 Monday on prospects of weaker energy demand amid a worsening global financial crisis after Lehman Brothers' bankruptcy, analysts said.

Lebanon's credit ratings in 113th place worldwide
In its semi-annual survey on the creditworthiness of 177 countries, Institutional Investor magazine ranked Lebanon in 113th place worldwide and 16th among 20 countries in the Middle East and North Africa region in the September 2008 survey.

GULF DAILY NEWS

Front page

Bahrain takes investment into cyberspace 
Bahrain is taking its global investment campaign into cyberspace, with a deal that will put it on the world technology map.

Ex-Alba men seek payout 
A group of former Alba workers, who claim they are suffering from serious illnesses as a result of their old jobs, are now seeking compensation totalling BD750,000.

Business

Bahrain signs strategic ICT accord with Cisco 
Cisco is working with the Bahrain government to further establish its presence in the kingdom and to make it the IT hub of the Middle East.

Bahrain boost as oil production to double 
Bahrain could double its oil production under development plans which would give its economy a massive boost.

By: Staff Reporter
+44 20 8652 3214

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