In Friday's Middle East papers

19 September 2008 06:30  [Source: ICIS news]

 

OMAN TRIBUNE

Front page

Paulson plan on bad debt stops carnage
The world’s top central banks joined forces on Thursday to throw a multi-billion dollar lifeline to global markets in a dramatic effort to free up bank-to-bank lending frozen by upheavals on Wall Street.

Nuclear deal before Sept. 26, promises Rice
US Secretary of State Condoleezza Rice has told a Indian delegation that she would be meeting key lawmakers in a bid to secure a quick approval of the agreement before the Congress ends its session on September 26.

Business

US banks scramble for deals as crisis deepens
Manic and increasingly desperate deal-making gripped Wall Street on Thursday as US stocks plummeted to three-year lows amid new signs of distress in the global financial industry.

Turmoil hits GCC foreign investments, oil revenues
Gulf states are bracing for the shakeout in the value of their massive foreign investments and the impact of lower oil revenues as the US financial crisis jolts the global economy, analysts say.

KHALEEJ TIMES

Front page

New Israeli leader Livni starts coalition talks
Israeli Foreign Minister Tzipi Livni began talks on forming a new coalition government on Thursday after edging home in a party leadership contest that set her on course to replace Ehud Olmert as prime minister.

Saudi cleric's fatwa widely denounced
Arabs across the ideological spectrum, from secular-minded liberals to Muslim hard-liners, are denouncing a recent edict by a top Saudi cleric that it is permissible to kill the owners of satellite TV stations that show ‘immoral’ content.

Business

Central bank’s action sparks rally in global stock markets
Wall Street and European stocks rallied on Thursday, despite steep Asian losses, as the world’s central banks pumped billions of dollars into money markets in a bid to bolster investor confidence.

Property shares lead losses on UAE bourses
Property stocks including Emaar Properties, Deyaar Development and Aldar Properties led losses in UAE shares on Thursday following speculation that high real-estate prices and increased regulation in Dubai will increase borrowing costs.

ARAB TIMES

Front page

Money market fund breaks-a-buck; Stocks tumble as Fed funds AIG
Kuwaiti banks are not exposed to the US subprime crisis and the financial crisis there, Kuwait’s central bank governor said on Wednesday. "We are reassured on the safety of the conditions for the banking and financial system in the state of Kuwait," Sheikh Salem Abdul-Aziz Al-Sabah told al-Arabiya television.

Security guards demonstrate over non-payment of salaries
Three hundred Egyptian security guards demonstrated in front of the Labour Department of the Ministry of Social Affairs and Labour in the Capital Governorate, reports Al-Seyassah daily.

Business

Kuwait’s investment dar upbeat on Q3, 2008 net
Investment Dar, the Kuwaiti Islamic firm which owns half of British luxury car maker Aston Martin, said it is upbeat on net profit growth in the third quarter after a slight decline in the second quarter.

NBK buys back own shares
National Bank of Kuwait (NBK), the country’s biggest bank by assets, has started buying back its own shares after it fell 4% in the past week in the wake of a Kuwait stock market slide.

ARAB NEWS

No news updates

TEHRAN TIMES

Front page

Deploying Arab forces in Gaza will only serve Israel: Larijani
Iranian Majlis Speaker Ali Larijani on Wednesday condemned a proposal to deploy Arab forces in the Gaza Strip.

Literati commemorate Shahriar on National Day of Poetry and Literature
A group of poets gathered at the library of Seyyed Jafar Shahidi on Tuesday on the occasion of Iran’s National Day of Poetry and Literature.

Business

Russia moves to bolster banking sector
Russia moved to bolster the country’s increasingly stressed banking sector Wednesday, as the global economic turmoil deepened fears that the country could face a crisis similar to the one 10 years ago.

Polish govt., central bank agree on euro adoption in 2011
Poland’s government and central bank have agreed on adopting the euro in 2011 and a detailed timetable for the move will be prepared next month, Prime Minister Donald Tusk said on Tuesday.

ALJAZEERA

Front page

Markets soar on hopes of US rescue
Asian stock markets have soared on prospects that the US government may buy up banks' bad debts in a bid to calm global financial markets.

Bolivia crisis talks get under way
Evo Morales, the Bolivian president, has begun talks with rebel state governors in an attempt to end political turmoil that sparked violent protests last week.

Business

UK bank Lloyds buys rival HBOS
British bank Lloyds TSB has bought rival HBOS to create a £28bn ($50bn) mortgage company, after HBOS shares plummeted over fears for its financial stability.

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.

THE DAILY STAR

Front page

Lebanese Cabinet tackles fragile security situation
Security issues were high on the Cabinet's agenda on Thursday after a shootout in the Northern town of Bsarma earlier this week killed two people and wounded three others.

Fadlallah: Iran's diplomatic success should set an example
Senior Shiite cleric Sayyed Mohammad Hussein Fadlallah said on Thursday that any military attack on Iran could generate a "global catastrophe". Speaking during a meeting with Iranian Ambassador Mohammad Reza Shibani, Fadlallah also stressed the need to monitor Israeli activities in the Caucasus, an area that constitutes a possible Israeli base to launch assaults against Iran.

Business

Construction in Lebanon increases by 26.5%
Figures released by the Order of Engineers of Beirut and Tripoli showed that construction permits totalled 6,074,843m square meters in the first seven months of 2008, up by 26.5% relative to the same period of the previous year, according to Bank Audi's Weekly Monitor.

Lebanon 'to get 4,000 more phone booths'
Telecommunication Minister Jebran Bassil announced on Wednesday that his ministry plans to install an additional 4,000 telephone booths across the country. Bassil, who was speaking at a press conference, said the first 1,000 booths would be installed from November of this year to May 2009.

GULF DAILY NEWS

Front page

Sacked worker abandons vigil
A sacked Bahraini worker yesterday gave up his lone stand against the might of Bapco against what he called victimisation.

Awards show hit by cheques row
Organisers of a glittering event in Bahrain have pledged the show will go on, despite a row over bounced cheques and non-payment of stars.

Business

$300bn lifeline
The world's top central banks joined forces to throw more than $300bn lifeline to global markets yesterday as pressure mounted on Wall Street legend Morgan Stanley and Swiss bank UB

HBOS deal sparks jobs cut jitters
British bank Lloyds TSB agreed yesterday to buy rival HBOS for £12.2bn ($21.8bn) in a rescue takeover that sparked concern about thousands of possible job cuts.

By: Staff Reporter
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