In Friday's Middle East papers

03 October 2008 07:00  [Source: ICIS news]

OMAN TRIBUNE  

 

Front page

Celebrations held to mark Eid in Sohar
His Majesty Sultan Qaboos Bin Said has received more cables of greetings on the occasion of Eid Al Fitr even as citizens in the Wilayat of Sohar organised a celebration to mark the happy and the blessed occasion.

Congress hails nod for N-deal as historic
The ruling Congress party on Thursday hailed US approval of a historic nuclear trade deal which will unleash billions of dollars of investment and draw the world’s biggest democracy closer to the West.

Business

Stocks slide as weak US data rekindles recession jitters
Asian and European stocks fell on Thursday, reversing a two-session recovery as bleak US data rekindled recession jitters and eclipsed dovish comments made by European Central Bank President Jean-Claude Trichet.

Euro falls to 13-month low against greenback
The euro fell to a 13-month low against the dollar on Thursday after European Central Bank (ECB) head Jean-Claude Trichet voiced concern about eurozone growth and said inflationary pressures were easing. 

KHALEEJ TIMES

Front page

Crisis spreads; bailout focus on house
Shockwaves from the global credit crisis spread on Thursday, rattling industries around the world and raising the stakes for the US Congress to finish up a $700bn bank bailout.

UN raises Pakistan security after hotel bombing
The UN has declared the Pakistani capital unsafe for the children of its international staff and ordered them out, putting the once tranquil city on par with Kabul and Somalia.

Business

World markets mixed after approval of US bailout plan
World stock markets were mixed Thursday as broader concerns about a global slowdown dampened relief over the US Senate’s passage of the $700bn bank rescue package. Britain’s FTSE 100 climbed 1.07% to 5,012.78, Germany’s DAX fell 0.01% to 5,805.97 and France’s CAC 40 added 0.29% to 4,066.34 in afternoon trading in Europe.

Oil price not to ‘soften’ on constrained supply
Robust demand and constrained supply means oil prices are unlikely to soften much, says latest Global Economic Outlook report by Citigroup.

ARAB TIMES

Front page

‘Baqer has failed to control prices’
Contrary to Commerce and Industry Minister Ahmad Baqer’s claim that his ministry has done its utmost to control the prices of basic commodities, a news team from Al-Seyassah daily noticed a remarkable increase in the prices of some goods during their recent visit to Salmiya Cooperative Society.

Ameeri accuses some parties of trying to hurt Salafists, ICM ties
MP Abdullatif Al-Ameeri has accused some parties in and outside the Parliament of trying to damage the harmonious relations between the Salafist Group and Islamic Constitutional Movement (ICM) by exaggerating the exchange of heated words between Awqaf and Islamic Affairs Minister Hussein Al-Huraiti and MP Dr Jamaan Al-Harbash over the ouster of former Secretary-General of the International Moderation Center in Kuwait Dr Essam Al-Basheer, reports Al-Rai.

Business

Gulf syndicated loan market severely disrupted: bankers 
Syndicated lending 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.

Fitch rates Commercial Bank of Kuwait at IDR ‘A+’ 
Fitch Ratings has today affirmed Commercial Bank of Kuwait’s (CB) ratings at Long-term Issuer Default rating (IDR) ‘A+’, Short-term IDR ‘F1’, Individual ‘B/C’ and Support ‘1’. The rating Outlook on the Long-term IDR remains Stable. The Support Rating Floor is affirmed at ‘A+’.

ARAB NEWS

Front page

Shariah courts to try terror suspects: Naif
Interior Minister Prince Naif announced late on Wednesday night that all suspected militants arrested for plotting to carry out terrorist attacks in the Kingdom would be transferred to Shariah courts shortly to take action against them.

How the elderly and sick spend Eid
Eid Al-Fitr is a time for enjoyment and celebration for children as well as for adults and the elderly. But for many unlucky people, especially the poor and needy, the occasion is a time for sorrow, despite the presence of many philanthropists who provide them with food and housing.

Business

Sentiment of oil markets is shifting from bullish to bearish
Fears of a global economic meltdown have overtaken the oil markets. Further contraction is a reality now looming large on the horizon and the crude markets could not be far behind in taking the cue.

Rosewood Corniche
Rosewood Corniche, one of Jeddah’s luxury hotels, embraced the spirit of Ramadan to welcome 25 Children from a local orphanage for a festive sahur on the Eid Al-Fitr eve.

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

Palin and Biden go head-to-head 
The US vice-presidential candidates have clashed on foreign policy, the economy and energy in their only face-to-face debate of the US election campaign.

Senior British police chief resigns 
Britain's most senior police officer has resigned after criticism of his leadership and his handling of major investigations including terrorism cases.

Business

Investors wary ahead of rescue vote 
Stock markets in Asia continued a downward slide as investors await a second vote in the US House of Representatives on the government's $700bn plan to bail out the financial sector.

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.

THE DAILY STAR

Frontpage

'Rice warned Moallem' against trying to revive role in Lebanon
The US government has warned Syria against any attempt to restore its formerly dominant position in Lebanon, the pan-Arab daily Al-Haayat said Thursday Arab and Western diplomatic sources quoted by Al-Hayat  said Damascus had asked Beirut for security cooperation to control the common borders between the two countries

Sleiman seeks Sfeir's blessing to head up intra-Christian talks
President Michel Sleiman stressed that inter-Christian reconciliation would see the light very soon and that contacts were under way to achieve this goal. The Central News Agency (CNA) reported on Thursday that the Maronite League was continuing its efforts to achieve Christian reconciliation and to arrive at a mechanism with the relevant parties under the patronage of Sleiman and with the blessings of Maronite Patriarch Nasrallah Butros Sfeir.

Business

Hayek sees no reason to delay sell-off of cellular networks
Lebanon still has a good chance to privatize its cellular networks before the parliamentary elections in 2009,  Higher Privatization Council President Ziyad Hayek says. "Technically there is nothing that prevents us from launching the auction of the cellular companies before the end of the government's term

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.

GULF DAILY NEWS

Front page

Traffic chaos! 
Eid has brought traffic chaos to Bahrain - sparking a major police alert.

Land for homes blow to families  
A bid to tackle overcrowding in government homes by giving land extensions to occupants has been blocked by the government.

Business

Carmakers facing bumpy road ahead 
Top carmakers including General Motors (GM) and Ford warned of tough times as the Paris Auto Show opened yesterday amid concerns that slowing demand could force production cuts and job losses.

Rescue fund plan for Europe banks rejected 
The European Central Bank's chief and the chairman of euro zone finance ministers sided with Germany yesterday in rejecting any need for a European rescue fund for banks suffering from the global financial crisis.

By: Staff Reporter
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