In Monday's Middle East papers

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

OMAN TRIBUNE

Front page

HM issues five royal decrees
His Majesty Sultan Qaboos Bin Said has issued six Royal Decrees. Royal Decree No. 106/2008 amends some provisions of the annex attached to Royal Decree No. 18/97.

More cement to be imported to meet demand
The government is planning to import more cement and clinker to bridge the widening demand gap, according to the information available with Oman Tribune.

Business

US plans to ‘press’ nations to forge bailouts: Paulson
The United States is pressing other countries to forge bailouts for their financial institutions similar to the unprecedented $700bn rescue it is planning for Wall Street, US Treasury Secretary Henry Paulson said on Sunday.

CBO approves hike in IMF quota
The Central Bank of Oman (CBO) Board of Governors on Monday app-roved a proposed amendment in the International Monetary Fund’s articles of agreement that will increase the Sultanate’s quota in the multilateral funding agency.

KHALEEJ TIMES

Front page

Marriott blast still shaking Pakistani
Muhammed Zulfikar was trying to get a cigarette from a friend in a cafeteria at Islamabad's Marriott Hotel when the building shook and something struck his head.

IAEA meets to discuss Iran nuclear stalemate (AFP)
The UN atomic watchdog begins its traditional September board meeting here Monday to discuss the current stalemate in its long-running investigation into Iran's controversial atomic drive.

Business

Property, banking stocks lead rally
Property and banking stocks led the rally in UAE shares on Sunday as investors hunted for bargains coupled with the UAE’s warning against short selling and the US government’s plan to buy bad mortgage investments. But analysts are watching how efficient this bailout will be and saying the rally cannot be sustained.

Short selling against regulations: DFM
Dubai’s main bourse said on Sunday short selling was not in keeping with regulatory rules and urged all parties operating in the market to abide by regulations.

ARAB TIMES

Front page

Kuwait’s Premier in New York after talks with Rice, Chertoff
His Highness the Prime Minister of Kuwait Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah met at his place of residence here Friday evening with US Secretary of State Condoleezza Rice and top US Administration officials.

Draft bill on stock market body soon to be sent to Parliament
Commerce and Industry Minister Ahmad Baqer said a draft bill on the stock market public authority will be submitted soon to the Parliament, reports Al-Anba.

Business

KIA boosts KSE activity after series of declines
Traders breathed a sigh of relief last week, when Kuwait Stock Exchange altered its direction after a series of sharp declines that it witnessed since the beginning of this month.

 

US bans financials ‘short sales’; curb ignites big rallies in stocks
US market regulators issued an emergency curb on short-selling on Friday, igniting big rallies in financial stocks that have been targeted by sellers as the credit crisis gathered pace.

ARAB NEWS

Front page

Work for the cause of Islam, Prince Naif urges scholars
Interior Minister Prince Naif attributed the backwardness, moral decay and extremism among Muslims to their non adherence to true Islamic principles.

 

Eight Saudis extradited by Baghdad arrive
Saudi authorities have received eight Saudi citizens who were serving jail terms in Iraqi prisons, ahead of a new extradition treaty to be signed between the two countries, a spokesman for the Interior Ministry in Riyadh said yesterday.

 

Business

Saudi inflation eases to 10.9%
Annual inflation in Saudi Arabia eased off from a peak of at least 30 years to 10.9% in August as gains in key components rent and food prices steadied in the largest Arab economy, official data showed yesterday.

Rising oil prices put focus on refining: OPEC accounts for 76% of world’s proven oil reserves
The surge in oil prices has focused attention on the critical role played by the refining sector

TEHRAN TIMES

Front page

Expert deciphers nails around ancient Pahluj skeletons
An anthropologist said that the nails around the ancient Pahluj skeletons imply an unknown style of burial carried out for females during the early Islamic era.

The last will and testament of Imam Ali (AS)
Imam Ali’s (AS) last will to his sons Imam Hassan (AS) and Imam Hussein (AS) following a fatal blow on his head during morning prayers by Ibn Muljim (A Kharijite).

Business

The rush from the ruble By Padma Desai
The news from Russia has been grim. The Russian stock market has slumped massively, reflecting investor panic.

Inflation continues to hurt India
Inflation continues to hurt India Inc’s growth prospects. As per data released on September 11, 2008, the wholesale price index (WPI) rose 12.1% in the 12 months to August 30, 2008, below the previous week’s annual rise of 12.34%.

ALJAZEERA

Front page

US rescue plan boosts Asian shares
Asian stock markets have had a positive start to the week as investors welcomed a massive $700bn US treasury rescue plan for the battered financial sector.

Hunt for Pakistan bomb clues
Investigators in Pakistan are sifting through the remains of Islamabad's Marriott hotel searching for clues as to who was behind the weekend's suicide lorry-bomb attack that killed at least 53 people and injured hundreds more.

Business

Bush pushes $700bn bail-out plan
George Bush, the US president, has sent a $700bn rescue plan to congress for approval, which aims to stabilise the US financial crisis.

Economic rescue 'to cost billions'
The US treasury secretary has said rescuing the troubled US financial sector will cost "hundreds of billions" of dollars.

THE DAILY STAR

Front page

Geagea apologizes for LF's wartime 'mistakes'
Lebanese Forces (LF) leader Samir Geagea apologized on Sunday for "mistakes" committed by members of his party during the 1975-1990 Civil War.

Hariri vows March 14 camp 'will remain united'
Future Movement leader Saad Hariri said on Sunday that he was open to reconciliation but not if it meant weakening the March 14 camp.

Business

'Cautious approach' spared Arab banks direct effects of subprime fallout
The prudent policies of Arab banks and financial institutions have allowed these entities to avoid the negative effects of the acute crisis that hit the stock markets in the United States and part of Europe, a leading Arab banker says.

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.

GULF DAILY NEWS

Front page

37% pay rise for nurses
Nurses were yesterday granted pay rises averaging 37% as part of a new jobs scale.

Abuse on school buses 'disturbing'
Urgent action is needed to overhaul Bahrain's school transport system, where sexual abuse and bullying often go unpunished, according to experts.

Business

Nomura plans to buy Lehman unit
Japan's Nomura Holdings is interested in buying the European operations of US investment bank Lehman Brothers, reports said yesterday.

Albaraka unit operating income surges to $24m
The Egyptian Saudi Finance Bank, a subsidiary of Albaraka Banking Group (ABG), showed an increase in gross operating income of 50% to reach $23.64m during the first half of the year.

By: Staff Reporter
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