In Monday's Middle East papers

24 November 2008 05:00  [Source: ICIS news]

OMAN TRIBUNE

Front page

Human trafficking law promulgated
His Majesty Sultan Qaboos Bin Said has issued four Royal Decrees as follows: Royal Decree No 126/2008 on promulgation of Human Trafficking Combating Law. Article I enforces provisions of the attached Human Trafficking Combating Law.

GCC ministers meet in Muscat tomorrow
The Sultanate will host the 109th session of the preparatory meeting of the Ministerial Council of the Gulf Cooperation Council (GCC) Foreign Ministers and the Financial and Economic Cooperation Committee meetings on Tuesday at Al Bustan Palace Hotel in Muscat.

Business

MSM closes 2.6% down; Riyadh cuts repo by 1%
Muscat Securities Market (MSM) dropped 2.6% as stock markets in the Gulf region started their week lower with Riyadh slashing the repo rate by 1% a day after the Saudi bourse sank more than 9%.

GCC summit to discuss food security
Food security in the region will be given top priority at the next GCC summit to be hosted by Muscat in December, according to GCC Secretary-General Abdul Rahman Al Attiyah.

KHALEEJ TIMES

Front page

Gulf shares slump despite government moves
Most stock markets in the energy-rich Gulf slumped on the week’s opener Sunday as intervention by governments failed to restore sentiment among investors worried by global financial turmoil.

Hamas rejects Abbas threat to call snap elections
The Islamist Hamas movement which controls Gaza rejected on Sunday a threat by Palestinian president Mahmud Abbas to call early parliamentary elections if reconciliation talks fail.

Business

Realty drags Dubai shares down
Shares in the Dubai Financial Market (DFM) fell sharply on Monday, tracking declines in other Gulf bourses with falling oil prices and the fallout from the credit squeeze further eroding confidence in the market.

Oil rises over $1, tops $51; OPEC cut eyed
Oil rose over 2% to top $51 a barrel on Monday on improved sentiment about the global economy, following news that New York Federal Reserve President Timothy Geithner has been tapped as the new treasury secretary.

ARAB TIMES

Front page

Dissolution of assembly being promoted: MP; ‘Grilling aimed at enforcing Sharia’
The grilling against HH the Prime Minister Sheikh Nasser Mohammad Al-Ahmad Al-Sabah is aimed at enforcing the Islamic Sharia, strengthening democracy as well as protecting religion, mind and honour, MP Waleed Al-Tabtabaei said at a press conference in his diwaniya on Saturday.

No extension of ‘visits’ from ’09
The General Immigration Department at the Ministry of Interior (MoI) has issued a decision not to extend visit visas effective January 2009, reports Al-Shahid daily quoting reliable sources from the department.

Business

Saudi shares close near five-year low 
The stock market in oil-rich Saudi Araba shed more than 9% of its value on Saturday and closed at its lowest level in almost five years after crude oil prices closed below $50 on Friday.

Optimism returns at KSE as KIA steps in 
Kuwait Stock Exchange witnessed a shift in its performance last week that caused the return of optimism among traders.

ARAB NEWS

Front page

Abdullah meets with Blair in Jeddah
Custodian of the Two Holy Mosques King Abdullah held talks here yesterday with Tony Blair, former British prime minister and special envoy of the Quartet to the Middle East.

Cabinet panel studying law to combat terror
The Experts Committee in the Council of Ministers is currently studying a draft law to punish those involved in terrorism and other criminal activities that undermine the country’s security.

Business

SAMA slashes repo rate to boost liquidity
The Saudi Arabian Monetary Agency (SAMA), the Kingdom’s central bank, cut its benchmark repo rate to 3% from 4%, the second reduction in a month, and the cash reserve requirement local banks have to make on demand deposits to 7% from 10% in order to boost domestic liquidity after inflation receded.

Picking up the pieces
The G-20 Financial Summit in Washington on 15 Nov was held at a major crossroads in the history of the world’s economies.

TEHRAN TIMES

Front page

President calls Palestine ‘a lab to assess honesty of countries’
Iranian President Mahmoud Ahmadinejad described Palestine issue as important, saying Zionist regime allies will not go unanswered.

Turkish readers welcome Moradi Kermani’s stories
Turkish readers find several similarities between Hushang Moradi Kermani’s stories and their customs, the Turkish newspaper Radikal mentioned in an article published in on November 7.

Business

South Korea’s central bank to inject money into bond fund: report
South Korea’s central bank is likely to inject up to 3.3bn dollars into a state fund aimed at easing a credit squeeze in the country’s debt market, a report said on Sunday.

Scottish recession ‘not as deep’
Scotland is about to enter its worst recession since 1980, but will still fare better than the rest of the UK, economists have predicted.

ALJAZEERA

Front page

Thai protesters wage 'final battle' 
Thousands of demonstrators have surrounded Thailand's parliament building, vowing a "final battle" to overthrow the government.

Venezuelans vote on Chavez future 
Polls have closed in Venezuela's state and municipal elections, seen as a test for Hugo Chavez, the president, against an energised opposition.

Business

Asian markets defy losses in US 
Asian stocks have posted modest gains despite a gloomy outlook for the US job market which prompted losses on Wall Street.

Iceland offered economic support 
Iceland has secured nearly $5bn in loans as it attempts to stabilise an restore faith in its shattered economy.

THE DAILY STAR

Front page

Gemayel issues new call for Hizbullah to disarm
Former President Amin Gemayel called on Sunday for the disarming of Hizbullah and Palestinian factions inside and outside refugee camps.

Security in full force as Lebanon marks 65 years since gaining independence
Lebanon marked 65 years of independence on Saturday for the first time in three years with an official ceremony staged in Downtown Beirut amid tight security.

Business

When will the Internet get up to speed in Lebanon?
Amid rave reviews and the glow of high-definition television screens as far as the eye could see, the 13th edition of the Levant's Information Technology Exhibition at the Beirut International Exhibition and Leisure centre is a look into Lebanon's potential as a future technology hot spot for the Middle East.|

Lebanon still lags on copyright rules - Microsoft exec
A senior Microsoft executive said on Wednesday that Lebanon and the Middle East need to get firmer in their fight against copy rights violations.

GULF DAILY NEWS

Front page

Help for shoppers 
Moves to protect shoppers and clamp down on commercial fraud and price monopolies were approved by the Cabinet yesterday. A draft law to help consumers was approved and referred to the legislative authority by ministers at the session chaired by Prime Minister Shaikh Khalifa bin Salman Al Khalifa.

Building owner 'pulls the plug on shops'  
Six shops in Umm Al Hassam were left without electricity last night when the owner of the building allegedly took out the fuse to the power supply in a bid to evict them. The tenants claim when the building owner Salah Abdul Latif bought the premises in September he gave them a month's notice to relocate because he wanted to renovate the place.

Business

'Diversify to make a mark' call 
Islamic finance needs to diversify its product range to position itself in the global financial market. That is one of the conclusions of the 2008/09 McKinsey Competitiveness Report on Islamic banking which was launched yesterday ahead of the 15th Annual World Islamic Banking Conference (WIBC).

IIB is named key sponsor 
International Investment Bank (IIB), a globally-focused Islamic bank, is the leadership sponsor of the WIBC. IIB is pleased to support this significant event in Bahrain, said IIB chief executive officer Aabed Al Zeera.

By: Staff Reporter
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