In Tuesday's Middle East papers

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

OMAN TRIBUNE  

 

Front page

 

HM exchanges Eid greetings
His Majesty Sultan Qaboos Bin Said has exchanged cables of greetings and congratulatory calls on the happy occasion of Eid Al Fitr with leaders of brotherly and friendly countries.

 

EU backs N-cooperation
As India and France get ready to sign an atomic pact, the European Union (EU) on Monday vigorously backed civil nuclear cooperation with India while underlining that it cannot tell New Delhi to fight climate change without much-needed clean nuclear energy.

 

Business

 

Citi to buy Wachovia; markets choke on spreading troubles
US regional bank Wachovia Corp. succumbed to the worldwide credit crisis and authorities rescued a slew of European banks, while US lawmakers met to vote on a $700bn bailout of the financial industry.

 

RO27.25m tender awarded for Duqm airport project
The Tender Board on Monday awarded a tender worth RO27,253,415 as the first allotment for the construction of the proposed Duqm airport in the Wusta region.

 

KHALEEJ TIMES

 

Front page

 

US bailout rejected; fear seizes markets
US lawmakers rejected a $700bn bailout plan for the financial industry in a shock vote that sent global markets sliding as European authorities scrambled to prop up a slew of banks.

 

At least 30 feared dead in Indian temple stampede
At least 30 people are feared dead after at a stampede at a Hindu temple in the western state of Rajasthan, local television reported on Tuesday.

Business

Shares Up as investors cheer US bailout plan
UAE shares advanced on Monday as investors reacted positively after the US government and lawmakers hammered out a consensus on how to spend up to Dh2.57 trillion ($700bn) to rescue the ailing financial industry.

 

Dow plummets record 777 as financial rescue fails
The failure of the bailout package in Congress literally dropped jaws on Wall Street and triggered a historic selloff including a terrifying decline of nearly 500 points in mere minutes as the vote took place, the closest thing to panic the stock market has seen in years.

 

ARAB TIMES

 

No new updates

 

ARAB NEWS

 

Front page

 

Abdullah congratulates Muslims on Eid Al-Fitr, calls for Islamic unity
Custodian of the Two Holy Mosques King Abdullah and Crown Prince Sultan yesterday congratulated Muslims all over the world on the occasion of Eid Al-Fitr and hoped that the Eid would usher in a new era of peace, progress and prosperity in the Islamic world.

 

Operetta, fireworks and folk shows in Obhur
Makkah Gov. Prince Khaled Al-Faisal will inaugurate the Eid Al-Fitr Festival in Obhur, north of Jeddah, tomorrow evening. The opening ceremony will include fireworks and an operetta titled "The Pearl of the East." A series of entertainment programs will be held during the festival.

 

Business

 

$700bn bailout plan nixed
The House of Representatives yesterday defeated a $700bn emergency rescue plan for the US financial system, ignoring urgent warnings from President George W. Bush and congressional leaders of both parties that the economy could nosedive into recession without it.

 

Speculation makes short selling incredibly risky
As US and UK authorities struggle to come up with plans to bailout banks in the case of the US with a $700bn taxpayers rescue plan several regulators have launched inquiries to see whether any executives at the institutions caught in the worst global financial crisis since the 1920s were up to no good and were breaking the law.

 

TEHRAN TIMES

 

Front page

 

Larijani calls new UN resolution a political folly
Majlis Speaker Ali Larijani has dismissed the new UN Security Council resolution against Iran as a "foolish political act".

 

Tehran to host Rail Show 2008 in Nov
Tehran will be hosting Rail Show 2008 in November, the Islamic Republic of Iran Railways announced on Sunday.

Business

Giorgio Armani and Samsung inspire the world again with the innovative Emporio
Giorgio Armani, one of the world’s leading fashion and lifestyle design companies, and Samsung Electronics, a leading producer of mobile phones, today unveiled the Emporio Armani Samsung Mobile, night effect.

What $700bn won’t buy: a quick fix for the economy By Michael Liedtke
Not even $700bn will be enough to spare the United States from more economic anguish if the government’s proposed banking bailout pans out like similar desperation moves during the past two decades.

ALJAZEERA

Front page

 

Markets plunge on failed US rescue
Asian markets have plummeted after the US House of Representatives rejected a $700bn bail-out plan of the country's financial sector in a shock decision that sent US markets reeling.

 

Pilgrims die in India stampede
At least 80 people have been killed and more than 100 injured in a stampede at a Hindu temple in India's western state of Rajasthan, police say.

 

Business

 

Unions back Alitalia rescue plan
A $1.45bn rescue plan for Alitalia, Italy's national carrier, has been accepted by the last two unions who opposed the deal.

 

UK to nationalise troubled bank
British lender Bradford & Bingley's branch network and deposit business will be sold to Spain's Banco Santander, and the remainder of the group will be nationalised, the UK government has said.

 

THE DAILY STAR

 

Front page

 

Explosion in Tripoli kills five people, including four soldiers
A devastating explosion ripped through a bus packed with Lebanese Armed Forces (LAF) soldiers in Tripoli on Monday, killing at least five people and wounding at least 33 others. The blast happened during the morning rush hour, at about 7.45 a.m., in the Al-Bahsas area of the city. A parked car rigged with explosives.

 

Lebanese Parliament holds final debate on 'new' electoral law
Parliament was due to ratify late Monday the new electoral law under which next year's parliamentary polls will be held. The new law, an amended version of the 1960 qada-based electoral law, was agreed on by Lebanon's rival politicians during the Doha talks last May.

 

Business

 

Beirut bourse loses ground as investors fret storm clouds in US markets
Local trading on the Beirut Stock Exchange this past week was still governed by the adverse situation of the US financial markets as traders remained watchful, awaiting the finalization of the US Fed's $700bn bailout plan and the respective consequence on their portfolios. This was reflected domestically by thin trading activity

 

Bassil plans to expand ADSL in Lebanon
Telecommunications Minister Jebran Bassil said on Friday his ministry is working on the second phase of high-speed ADSL Internet expansion. Bassil, who was speaking at a press conference, disclosed that over the past 18 months, the number of ADSL subscribers rose to 58,000 and efforts are under way to increase the number in the coming two years.

 

GULF DAILY NEWS

 

Front page

 

Eid alert
Police are to step up efforts to ensure safety on Bahrain's roads during the Eid Al Fitr holiday which starts today.

 

Ordeal ends for Gibsons
A Destitute British family flew out of Bahrain last night, after more than 18 months of misery.

 

Business

 

Disaster recovery centre is launched
Mena Telecom, a subsidiary of Kuwait Finance House (Bahrain), has unveiled a new disaster recovery site (DRS) in Manama.

 

Gulf Air signs hangar deal in expansion push
Bahrain, which has already established itself as a leading financial centre in the Middle East, is now also setting its eyes on becoming a key aircraft maintenance hub in the region.

By: Staff Reporter
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