In Thursday's Middle East papers

08 January 2009 05:00  [Source: ICIS news]

OMAN TRIBUNE

Front page

Israeli blitz resumes after three-hour lull
Top Israeli ministers on Wednesday approved an even tougher war on Hamas despite warming to a new ceasefire initiative and briefly silencing its guns to let Gaza City residents hunt for food and fuel.

Layoff reports baseless: Ministry
An official source at the Ministry of Manpower on Wednesday denied the validity of recent reports that some companies operating in the Sultanate have laid off their employees as a fallout of the global financial crisis.

Business

Sensex plummets 7.25% on Satyam disclosure
Shares in Satyam Computer Services plunged more than three-fourth on Wednesday after the outsourcer said it had overstated profits for many years, dragging the Sensex to its first loss in the new year.

No plan for Opec meeting: Libya
The Organisation of Petroleum Exporting Countries (Opec) is not considering holding an extraordinary meeting next month, Libya’s envoy to the oil producers’ group said on Wednesday, contradicting Iran which said Opec would meet in Kuwait in February.

KHALEEJ TIMES

Front page

Israel bombards Gaza, US backs ceasefire plan
Israeli warplanes bombed the Gaza Strip on Thursday and tanks pounded Palestinian guerrillas on the ground as US backing for a proposed truce raised expectations of an end to the offensive.

US in early talks with India over missile defence: FT
The United States is in preliminary talks with India over the sale of missile shield systems to help New Delhi guard against nuclear threats, the Financial Times reported on Thursday.

Business

Abu Dhabi seeks to lure foreign investors
The Abu Dhabi government intends to expand property rights further for foreign investors to improve the attractiveness of the emirate as an investment destination.

Arab banks’ profits seen to plunge 40%
The combined profits of Arab banks will decline up to 40% in 2009 due to the tightening liquidity scenario, a top Arab banker said.

ARAB TIMES

Front page

Mulaifi intends to grill PM
MP Ahmad Al-Mulaifi has announced his plan to grill the Prime Minister Sheikh Nasser Mohammad Al-Ahmad Al-Sabah for suspending the parliamentary work in Kuwait for 55 days and delaying the formation of the government.

‘Asthma major health problem in Kuwait, needs effective control’
Asthma is a common health problem affecting more than 300m people worldwide.

Business

Construction begins on Boubyan Harbour
Kuwait’s Ministry of Public Works has laid the groundwork for the construction of 24 docks within the Boubyan Harbour Project, the ministry’s Assistant Under Secretary for Mega Projects Adel Al-Turki said on Tuesday.

Kuwait mulls helping companies with Islamic bond
Kuwait may issue Islamic bonds, or sukuk, on behalf of investment firms struggling to borrow fresh funds amid the global financial crisis, a newspaper said on Tuesday.

ARAB NEWS

Front page

US-GCC forum ends with call for greater understanding
Decision makers, scholars, policy planners and academics from the US and the six-nation Gulf Cooperation Council (GCC) reaffirmed their commitment to peace and security in the Gulf region and pledged to boost ties during a high-profile US-GCC forum that concluded here.

Kingdom, Pakistan to step up drive against terror
Saudi Arab and Pakistan will intensify their cooperation on regional security and exchange of intelligence information on combating terrorism.

Business

Saudis invest SR1 trillion in real estate
Hotel and shopping complex projects, followed by the construction of residential units and tourist projects have topped the list of investment activities in Makkah province in recent years.

Satyam chief reveals $1bn fraud
Ramalinga Raju, founder and chairman of India’s fourth-largest software services provider Satyam Computer Services Ltd., resigned saying he falsified earnings and assets, prompting Satyam’s shares to drop by 80%.

TEHRAN TIMES

Front page

Peace brokers eye breakthrough with Gaza truce plan
Peace brokers proclaimed a breakthrough on Wednesday in efforts to halt the Gaza conflict as Israel warmed to a Franco-Egyptian initiative and Russia pressed for a diplomatic solution in talks with Hamas.

Iranian security chief to visit Turkey to discuss Israeli war on Gaza
In line with his regional tour, Iran’s national security chief Saeed Jalili will head to Ankara soon for talks with the Turkish president and prime minister over the Gaza blitz.

Business

Toyota to suspend production for 11 days in Japan
Toyota is suspending production at all 12 of its Japan plants for 11 days over February and March, a stoppage of unprecedented scale for the nation's top automaker as it grapples with shrinking global demand.

477,000 fast-yielding projects launched since 2006
Deputy Labour and Social Affairs Minister Hamid Haji-Abdolvahab has announced that 477,000 fast-yielding projects came on stream from March 2006 to the end of December 2008.

ALJAZEERA

Front page

Israel resumes deadly Gaza attacks
Air raids intensify as Israel moves to broaden offensive after three-hour lull.

UN 'to convene assembly over Gaza'
General assembly to meet in emergency session over ongoing Gaza crisis.

Business

Toyota announces production freeze
World's top automaker hopes to clear backlog of unsold cars as global demand plummets.

Global markets buoyed by optimism
Stimulus plans boost confidence but UN expected to issue grim economic report.

THE DAILY STAR

No new updates

GULF DAILY NEWS

Front page

Alba goes greener with $66m refit
Alba announced it had completed a $66m (BD24.9m) project to make its power stations more environmental friendly.

Labourers' town awaits go-ahead
The fate of a Cabinet-approved BD13m township for labourers has been awaiting a ministry green light for over two years, according to developers.

Business

2Connect bidding for mobile licence
Bahrain-based 2Connect has teamed up with Saudi Arabia's Etihad Etisalat (Mobily) to bid for the third mobile licence in Bahrain.

The shame of Satyam!
The head of one of India's biggest outsourcing firms, Satyam Computer, resigned on Wednesday amid a scandal over a billion dollar fraud that sent company stocks into freefall.

By: Staff Reporter
+44 20 8652 3214

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