In Friday's Middle East papers

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

OMAN TRIBUNE

Front Page

Deal on truce reached at UN
Western and Arab foreign ministers agreed on a draft resolution calling for an immediate Gaza ceasefire, and will put the compromise measure to a UN Security Council vote, diplomats said late on Thursday.

38 die, 25 injured in Karachi fire
At least 38 people were killed and 25 wounded when a fire ripped through dozens of homes in a shanty town in Pakistan’s largest city Karachi, government and hospital officials said early on Friday.

Business

BoE cuts rate to 315-year low
The Bank of England (BoE) on Thursday cut its key lending rate by half a percentage point to an all-time low of 1.5% in a bid to stabilise inflation amid a deepening economic slowdown.

Job loss is the No. 1 concern worldwide, survey shows
The global economic crisis has made fears of unemployment the No. 1 concern, surpassing worries about poverty, social inequality, crime and violence, a 22-nation survey showed on Thursday.

KHALEEJ TIMES

Front Page

UN council calls for Gaza ceasefire, toll hits 765
The U.N. Security Council called for an immediate ceasefire in the Gaza Strip but Israeli warplanes launched intermittent attacks on Friday.

US, Britain, France work on UN Gaza truce resolution
The United States, Britain and France have dropped objections to a binding U.N. resolution on the Gaza crisis and are working on one that calls for an "immediate ceasefire," diplomats said on Thursday.

Business

GCC economy to rebound in 2010
The economies of the six-nation GCC will bounce back in 2010 after a contraction of 20 per cent in gross domestic product (GDP) and a significant decline in inflation in 2009, according to a study by Meed Insight, a leading source of business intelligence in the region.

UAE to avoid recession, inflation to slow to 2.5%
The UAE is forecast to post a marginal economic growth of 0.5% during the year 2009, the lowest in the Gulf Cooperation Countries (GCC).

ARAB TIMES

Front Page

Death to life in prison for ‘serial rapist’
The Court of Appeals on Wednesday commuted the death sentence of Hajjaj Mohammed Adel Al-Saadi, who is also known as the ‘Hawalli Monster’, and sentenced him to life imprisonment in two of the 18 cases which have been filed against him.

PM discusses ‘formation’ of new Cabinet with lawmakers
HH the Prime Minister Sheikh Nasser Mohammad Al-Sabah met a number of parliamentarians on Tuesday to discuss the formation of the new Cabinet as well as updates on the political situation of the country.

Business

Kuwaiti official says oil could hit $80 mid-year
The price of oil could rise as high as $80 per barrel in mid-2009 as Opec supply curbs make their full impact on the market, a Kuwaiti oil official said in remarks published on state news agency KUNA on Wednesday.

Kuwait’s secretive companies add to crisis woes
Kuwait’s weak financial regulation is compounding the effects of the global credit crisis, unsettling investors there and threatening the government’s attempts to diversify its oil-driven economy.

ARAB NEWS

Front Page

Qunoot prayers reflect Saudi anger over aggression
With Israeli warplanes, warships and ground troops pounding unarmed civilians in Gaza for the second consecutive week, Muslims in Saudi Arabia expressed their anger and dissatisfaction over the unacceptable situation in Gaza by performing Qunoot prayers almost daily in all mosques of the Kingdom.

UN halts work after Israeli attack
The United Nations relief agency on Thursday stopped work in the Gaza Strip after two of its workers were killed in Israeli fire.

Business

Vision 3 Alliance holds inaugural board meeting
Vision 3, an alliance formed by Gulf Finance House, Ithmaar Bank and Abu Dhabi Investment House, announced the make up of its board at its inaugural meeting yesterday.

Oil as weapon? No way
When the Arab oil producers used crude supplies as a weapon during the 1973 Yom Kippur War between Israel and Arab armies, those were distinctly different time.

TEHRAN TIMES

No new updates

ALJAZEERA

Front page

UN passes Gaza ceasefire resolution
The UN Security Council has called for an immediate ceasefire in Gaza that Arab nations hope will put an end to Israel’s 14-day assault on the territory.

Worldwide protests on Gaza continue
International condemnation of Israel’s two week assault on Gaza has continued, with tens of thousands of protesters calling for end to the military offensive.

Business

S Korea faces ‘economic emergency’
President tells crisis meeting that urgent measures are needed to prop up economy.

‘Indian Enron’ rocks business world
The Indian government has vowed to strengthen anti-fraud legislation after the chairman of the country’s fourth biggest software firm said he had falsified company accounts.

THE DAILY STAR

Front page

Tensions rise as rockets hit Israel from South Lebanon
At least three rockets were fired from southern Lebanon into Israel on Thursday, prompting the Israeli military to respond with an artillery attack near the village of Tair Harfa.

Sleiman again exhorts Arabs to save Gaza
President Michel Sleiman reiterated his call on Thursday for the Arab League to hold an urgent summit to discuss means of ending both Israel’s attack on the Gaza strip and its siege of the coastal enclave.

Business

No new updates

GULF DAILY NEWS

Front page

Summit call
His Majesty King Hamad and Prime Minister Shaikh Khalifa bin Salman Al Khalifa on Thursday called for an Islamic summit if holding an Arab one was not possible.

Task force to fight pirates set up in Bahrain
An international task force has been set up in Bahrain to combat piracy.

Business

Bahrain inflation may plunge to 1.5%
Inflation in Bahrain will drop to 1.5% this year, Standard Chartered Bank said in a report on Thursday.

Dubai faces steep property downturn
Signs of a deep downturn in Dubai’s property market intensified on Thursday as government-owned developer Nakheel entered financing talks with banks over a major project and a second project faced delays.

By: Staff Reporter
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