In Tuesday's Middle East papers

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

OMAN TRIBUNE

Front page

PLO vote for Abbas a desperate move: Hamas
Hamas dismissed on Monday Palestinian Authority President Mahmoud Abbas’s appointment as president of Palestine by the PLO.

A‘Shura refers draft budget to Council of Ministers
The Majlis A’Shura on Monday approved the Economic Committee’s report on the State’s General Draft Budget for 2009 and decided to refer it to the Council of Ministers.  

Business

US rescues Citi with $20bn capital, global stocks soar
The US government has bailed out Citigroup Inc, agreeing to shoulder most of the potential losses on $306bn of high risk assets and inject $20bn of new capital, in its biggest rescue of a bank yet.

Nawras bosses put heads together to get it ‘fixed’
Even before the euphoria over winning the licence to provide fixed or landline telecom service in Oman could evaporate, mandarins at Nawras corporate headquarters in Azaiba are literally burning the proverbial midnight oil chiselling out the “what next?” strategy for a quick roll-out.

KHALEEJ TIMES

Front page

Obama’s Cabinet begins to take shape
President-elect Barack Obama formally nominated Timothy Geithner on Monday as his Treasury secretary and Lawrence Summers to head the National Economic Council, filling two of the most closely watched jobs in his administration.

Bush insists vision of Palestinian state lives
US President George W Bush declared in farewell talks with Israeli Prime Minister Ehud Olmert on Monday that the vision of a Palestinian state remained alive, despite failure to achieve their goal of a peace deal this year.

Business

‘Debts only fraction of Dubai assets’
Dubai can and will meet all its refinancing obligations as its sovereign debts represent only a fraction of the assets of the government and affiliate companies estimated at Dh1.3 trillion, Mohamed Alabbar, the head of the newly formed The Advisory Council, said on Monday.

Real estate sector under correction: Alabbar
The priority of Dubai’s Government’s newly formed economic advisory council is to manage supply in the real estate market to ensure equilibrium, Mohamed Alabbar, head of the high-level body, said on Monday.

ARAB TIMES

Front page

Grilling: ‘it is what it is … no more’; Tabtabaei denies surrogacy
Dragging the ruling family into controversies surrounding the grilling request against HH the Prime Minister Sheikh Nasser Mohammad Al-Ahmad Al-Sabah is an attempt to divert public attention from the main issue and evade grilling, Islamist MP Dr Waleed Al-Tabtabaei, one of the three proponents of the grilling, said on Sunday.

Commercial to work visas set
The Ministry of Social Affairs and Labour has asked the General Immigration Department to allow the transfer of commercial visit visas to work permits in the private sector, reports Al-Awan daily quoting a reliable source.

Business

Markets across GCC nose-dive as weak oil raises economic worries 
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.

Listed-firms’ Q3 declines 18.8% to KD3.13bn 
After the end of the period given to listed companies for providing their financial statements for the third quarter ending September 30th, 187 companies announced their results out of 197 companies listed on KSE excluding companies with fiscal year not ending on December 31st.

ARAB NEWS

Front page

Cabinet vows to curb surge in pirate attacks
The Council of Ministers yesterday expressed deep concern over the surge in pirate attacks along the coast of Somalia.

Civil Defence finalises Haj plan
More than 13,000 personnel, 3,000 vehicles and eight helicopters will be working in Makkah and the holy sites during Haj, said Gen.

Business

UK unveils $30bn stimulus package
UK Chancellor of the Exchequer Alistair Darling yesterday afternoon announced a £20bn 9430bn "fair and responsible" fiscal stimulus package or 1% of GDP aimed at helping businesses and the economy weather the worst recession which the country has seen for decades.

J.P. Morgan completes 75 years in Saudi Arabia
J.P. Morgan, which has been serving clients in Saudi Arabia for over three quarters of a century, on Sunday night celebrated the official opening of its office in Riyadh, further enhancing the reach and capabilities of its successful investment banking franchise in the Kingdom.

TEHRAN TIMES

Front page

Bani-Etemad to preside over doc section jury of Dubai festival
The celebrated Iranian filmmaker Rakhshan Bani-Etemad has been appointed head of jury of the Muhr Asia-Africa Documentaries section of the 5th Dubai International Film Festival.

Iran’s “Over There” wins Golden Alexander at Greek filmfest
Iranian black and white “Over There” by Abdorreza Kahani grabbed the “Golden Alexander” at the 49th International Thessaloniki Film Festival, Greece.

Business

UK govt to hit rich to fund tax cuts as recession looms
The government is expected to hit the rich to pay for tax cuts aimed at getting consumers spending again in an economic stimulus package set to be unveiled Monday.

Hungary unexpectedly cuts key rate as inflation eases
The Hungarian central bank unexpectedly cut the European Union’s highest benchmark interest rate as it starts to roll back last month’s emergency increase, expecting inflation to slow “rapidly.”

ALJAZEERA

Front page

US charity guilty of funding Hamas 
A US court has convicted a Muslim charity and five of its former leaders of all 108 charges in the largest "terrorism" financing trial in US history.

Vision of Palestinian state 'alive' 
The outgoing US president has declared that the vision of a Palestinian state remains alive despite failure to achieve his goal of a Middle East peace deal this year.

Business

Markets soar on Obama economic team 
Stock markets have soared after Barack Obama, the US president-elect, unveiled his economic team and the US government announced it was bailing out troubled banking giant Citigroup.

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.

THE DAILY STAR

Front page

Ahmadinejad opens Sleiman visit with praise for Lebanon's resistance feats
Iranian President Mahmoud Ahmadinejad on Monday praised Lebanese resistance against Israel, in a meeting with Lebanon's President Michel Sleiman, the official Islamic Republic News Agency (IRNA) reported.

Lebanon to be ruled by Syria if 14 March loses poll – Jumblatt
Progressive Socialist Party leader Walid Jumblatt warned on Monday that a defeat for the 14 March Forces in parliamentary elections slated for next spring would mean a return of Syrian rule to Lebanon.

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 center 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

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By: Staff Reporter
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