In Monday's Middle East papers

27 October 2008 05:31  [Source: ICIS news]


Front page

Eight Syrians killed in US raid
American helicopter-borne soldiers launched an assault on Sunday on a building in a Syrian border village with Iraq, killing eight civilians, official Syrian media reported.

Omanisation a success but more training needed, says Macki
Muscat he Ahmed Macki, Minister of National Economy and Deputy Chairman of the Financial Affairs and Energy Resources Council, emphasised the need for sustainable programmes to train the Sultanate's young population for the workforce in an exclusive interview in 'The Report: Oman 2008' published by Oxford Business Group (OBG), the highly acclaimed global publishing, research and consultancy firm.


Economy extends upbeat growth in Q2
The Sultanate's economy extended the upbeat growth rate in the second quarter of 2008 despite a global slowdown.

Bank Muscat board okays Q3 results
Bank Muscat, the leading financial institution in the Sultanate, has announced the financial results for the nine months of the year ending September 30, 2008, in an address to shareholders following the approval of the board of directors.


Front page

US special forces launch rare attack inside Syria
US military helicopters launched an extremely rare attack Sunday on Syrian territory close to the border with Iraq, killing eight people in a strike the government in Damascus condemned as 'serious aggression.'

Suspected US strike kills up to 20 in Pakistan
Pakistani officials say a suspected US missile strike on a compound used by Taliban militants near the Afghan border has killed up to 20 people.


VAT threshold may be set at dh3.5m
The threshold at which businesses pay Value Added Tax (VAT) is likely to be set at Dh 3.5m, a level that will probably be uniform throughout the GCC.

UTI launches UTI- Wealth Builder Fund- Series II
UTI Mutual Fund has announced the launch of an open ended equity oriented scheme, 'UTI Wealth Builder Fund-Series' which combines the benefits of both equity and gold.


Front page

Ministry 'finalizing' expatriate workers' problems: Al-Kandari
The Ministry of Social Affairs and Labor is now finalizing a strategy to address the problems of expatriate workers, balance Kuwait's population structure, and maintain national security, Undersecretary Mohammad Al-Kandari told.

No alteration in conditions to get driving licence-Traffic official
Assistant Undersecretary for Traffic Affairs at the Ministry of Interior (MoI) Major General Mahmoud Al-Dosari has refuted reports on amending the conditions for obtaining a driving license, particularly the salary cap and the applicant’s job.


KAMCO announces 'listing' of Al Maidan Dental on KSE
KIPCO Asset Management Company (KAMCO) has announced the listing of the Al Maidan Dental Clinic Company (k.s.c.c.) on the Kuwait Stock Exchange (KSE).

Investors lose confidence as KSE plunges below 10,500 pts
During last week, Kuwait Stock Exchange returned to recording large daily losses due to the control of fear and loss of confidence sentiments over the course of trading, as they caused dealers to engage in heavy selling, in anticipation of continued decline, and to be reluctant in taking advantage of the available good investment opportunities.


Front page

Imams urged to preach against unauthorized pilgrimage
As part of a campaign to minimize crowding in the holy sites during Haj, prayer leaders have been urged to preach the importance for domestic pilgrims to obtain permits before embarking on the annual pilgrimage.

Families sharing villas face eviction
Many low-income families who share accommodations in villas face eviction from these homes as the municipality has started disconnecting electricity and water supplies.


Kuwait guarantees deposits
Kuwait moved to prop up one of its banks yesterday as the global financial crisis spread to the Gulf, sending stocks into a tailspin.

Jadwa teams up with Malaysian firm
Jadwa Investment and Khazanah Nasional Berhad, the investment arm of the Malaysian government, have signed a partnership agreement.


Front page

West facing a 9/11 financial crisis: Larijani
Majlis Speaker Ali Larijani has likened the West's financial crisis to the September 11 attack on the United States.

Iran invited to unveiling ceremony of Arab poets encyclopedia
The new director of the Iranian Academy of Persian Language and Literature, Gholam-Ali Haddad-Adel has been invited to the unveiling ceremony of 'Al-Babtain's Encyclopedia of Arab Poets in the 19th and 20th Centuries' in Kuwait on Monday.


Vietnam inflation rate falls to 26.7%
Vietnam's consumer prices rose by 26.7% in October against the same month last year, the state-run General Statistics Office (GSO) said in inflation data released Saturday.

South Korea plans additional tax cuts to prop up economy
South Korean President Lee Myung-Bak said on Sunday that his administration planned further tax cuts and would expand government spending to prop up the ailing economy.


Front page

Syria accuses US of deadly raid
Syria has accused the United States of killing at least eight people in a helicopter raid in the country's east, close to the border with Iraq.

McCain 'doing fine' in US race
Obama and McCain are focusing on swing states. John McCain, the Republican presidential nominee, has said that he is still in a position to win the White House on November 4.


Asian stocks remain weak
Asian stocks have seen volatile price fluctuations as markets opened for a new week and business and political leaders around the world meet to tackle the global financial crisis.

IMF agrees Ukraine loan package
The International Monetary Fund (IMF) has said it has agreed in principle to Ukraine with a $16.5bn loan package.


Front page

Sleiman receives envoy with message from Mubarak
Egypt's deputy intelligence chief arrived in Beirut over the weekend as Prime Minister Fouad Siniora was preparing to head on an official visit to Cairo on Monday.

Israeli general says Syria is arming Hizbullah
A senior Israeli military official on Sunday repeated frequent accusations that Syria is arming Hizbullah in violation of a UN Security Council resolution which ended the 2006 war between Israel and Lebanon.


Beirut market sees drop in trading as investors await effects of bailout plans
It was another turbulent week for the Beirut Stock Exchange as the global financial crisis weighed down on the trading mood of local investors despite the local economy apparent immunity.

EIU cuts growth forecast for Lebanon
In its first report about Lebanon since the worsening of the global financial crisis, the Economist Intelligence Unit (EIU) estimated real GDP growth at 4.2% in 2008 and revised downward its forecast for 2009 from 4.6% to 3.1% in 2009, as reported by Lebanon This Week, the economic publication of the Byblos Bank Group.


Front page

Budget green light
Bahrain's budget for the next two years yesterday received the Cabinet's seal of approval. The weekly session chaired by Prime Minister Shaikh Khalifa bin Salman Al Khalifa at Gudaibiya Palace referred the draft plan to the legislative authority for more scrutiny.

Shot DHL manager lived in Bahrain
One of two DHL executives shot dead in the Afghanistan capital Kabul lived in Bahrain, it emerged yesterday.


Traders up in arms
Kuwaiti traders staged another walkout yesterday and protested outside the stock market as shares in the Gulf region plunged amid growing fears of a global recession

$5.5m global financial crisis setback for BMB investment
The global credit crunch took a heavy toll on Bahrain-based BMB Investment Bank, putting it into the red in the first nine months of this year.

By: Staff Reporter
+44 20 8652 3214

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