In Thursday's Middle East papers

02 October 2008 06:00  [Source: ICIS news]

OMAN TRIBUNE  

 

Front page

 

His Majesty performs Eid prayers in Sohar
The Sultanate on Wednesday celebrated the first day of the Blessed Eid Al Fitr. His Majesty Sultan Qaboos Bin Said performed Eid prayers at the Sultan Qaboos Mosque in the Wilayat of Sohar.

 

New member Oman vows support for IAEA
Sayyid Badr Bin Hamad Bin Hamoud Al Busaidi, Secretary-General of the Sultanate’s Ministry of Foreign Affairs and Head of the Sultanate’s delegation to the general conference of the International Atomic Energy Agency (IAEA), stressed the Sultanate’s continuous support for the role played by the IAEA in international security and peace and giving room to countries to avail themselves of nuclear energy for peaceful purposes.

 

Business

 

New bailout vote propels global stocks; dollar dips
US lawmakers worked on a new $700bn bank bailout ahead of a Congress vote on Wednesday, sparking a global stocks rally but banks around the world still faced a desperate struggle to find credit.

 

Oil plunges below $96 on US inventory build
Oil plummeted below $96 a barrel on Wednesday as weekly US data showed a larger than expected increase in crude inventories and falls in fuel demand.

 

KHALEEJ TIMES

 

Front page

US Senate approves $700bn economic bailout plan
The US Senate on Wednesday approved a 700bn-dollar Wall Street bailout package by a vote of 74-25 amid a widening global crisis sparked by the collapse of the US housing market.

 

US Congress OKs Indian nuclear deal, sends to Bush
The US Congress on Wednesday approved a landmark deal ending a three-decade ban on US nuclear trade with India, handing a victory to President George W Bush on one of his top foreign policy priorities.

 

Business

 

Stocks fall despite Senate bailout approval
Asian stocks fell and safe haven assets such as government debt gained after the US Senate’s approval of a massive bank bailout plan failed to dispel the deepening worries about the global economy.

 

Oil prices higher after US Senate vote
World oil prices were up more than one dollar in Asian trade on Thursday shortly after the US Senate approved a revised government proposal to bail out the US financial sector.

 

ARAB TIMES

 

Front page

 

Talha deportees jail unfit for prisoners: rights panel

The Human Rights Committee at the Parliament has denounced the worsening condition at Talha Prison – a detention center for deportees, reports Al-Seyassah daily.

 

Support securitymen in events of emergency: Sheikh Khalid
Interior Minister retired Lieutenant-General Sheikh Jaber Khalid Al-Sabah on Tuesday described the land border security men as "Kuwait’s shield", urging them to take all necessary measures to support the security of the nation in the face of any developments or events of emergency.

 

Business

 

Outlook of Gulf Arab banks darker but stable: Moody’s
The ratings outlook for Gulf Arab banks has darkened with the credit crisis but remains stable with the exception of Dubai, where the outlook is more negative due to real estate exposure, Moody’s said on Tuesday.

 

Central Bank of Kuwait boosts lenders’ deposits
The Central Bank of Kuwait has started shifting deposits from government institutions to commercial banks to boost liquidity, heeding calls by local lenders, a newspaper said on Tuesday. .

 

ARAB NEWS

 

Front page

 

Obhur Festival kicks off
The 2nd annual Obhur Tourism Festival began last night with fireworks lighting the north Jeddah skies.

 

Public warned of dangers lurking at recreation centers
Recreation centers are the first places people think of for the entertainment of their children during Eid.

 

Business

 

SR50m chemical plant to come up soon
To capitalize on the construction boom in the Kingdom, a construction chemical plant will come up in Rabigh next year.

 

US approves sale of F-35 jets to Israel
The US Defence Department has approved the sale of 25 F-35 Joint Strike Fighters (JSF) to the Israeli Air Force (IAF), the official Israel Radio reported yesterday.

 

TEHRAN TIMES

 

Front page

 

Iran will not allow IAEA to target its national security: envoy
Iran’s envoy to the International Atomic Energy Agency declared on Monday that Tehran will not allow the agency to continue to threaten Iran’s national security.

 

The Paralympics, where everyone is a winner
During my recent trip to Beijing, I realized that everyone who participates in the Paralympics is a winner.

 

Business

 

Swiss economy to slip into brief recession
The Swiss economy is likely to follow other European countries into a brief recession and the Swiss National Bank will try to revive growth by cutting interest rates twice, the KOF research institute said on Monday.

 

Sarkozy aide says France in ‘quasi-recession’
France is in ‘quasi-recession’, a senior aide to President Nicolas Sarkozy said on Monday, adding Sarkozy was prepared to take further measures to boost growth despite a budget that leaves little room for maneuver.

ALJAZEERA

Front page

 

US senate backs bailout plan
The US senate has approved an amended $700bn government bailout of Wall Street firms amid a widening financial crisis sparked by the collapse of the US housing market.

 

Russia has sent a warship to take on the Somali pirates [AFP]
Negotiations are taking place by phone to free a Ukrainian ship hijacked by Somali pirates with 33 tanks and other military hardware abroad, a maritime official has said.

 

Business

 

Stocks climb on hopes of US bailout
European and Asian indices regain some ground in advance of US senate vote on revised rescue plan.

 

Europe fights to calm markets
Governments across Europe have continued to prop up the battered financial sector, with Dexia, the Belgian-French financial services group, receiving more than $9bn from the Belgian, French and Luxembourg treasuries.

 

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.

 

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.

 

Is Marx laughing in his grave right now?
Strange goings on in the world's financial markets and the international economic system as a whole has prompted concerns that a dark fate awaits the human race. And it is the darker side of human nature that is being blamed for the economic instability.

 

GULF DAILY NEWS

 

Front page

 

Bahrain terror hunt after car attacked
Police last night launched a manhunt to track down suspects accused of hurling Molotov cocktails at a car. Three Bahrainis were travelling on Zayed bin Omeira Highway, Demistan, when they came under attack, the Northern Police acting director general said.

 

Market 'is health hazard'
An urgent call has gone out to demolish and rebuild the dilapidated Sitra Central Market, branded a health hazard by an MP.

 

Business

 

Gulf syndicated loans hit by global financial woes
Syndicated len-ding to the Gulf is now severely disrupted and several large loans have been postponed, reworked, repaid or drawn down to cope with extraordinary market conditions, senior banking sources said.

 

Shares blow for carmakers
Shares in European carmakers fell sharply yesterday as signs consumers are struggling to raise loans to buy cars fed into a market spooked by concerns about earnings targets at Daimler.

By: Staff Reporter
+44 20 8652 3214

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