In Friday's Middle East papers

13 March 2009 05:00  [Source: ICIS news]


Front page

HM to receive Singapore President Ramanathan
Singapore President Sellapan Ramanathan will meet His Majesty Sultan Qaboos Bin Said during his three-day official visit to the Sultanate beginning on Saturday.

Madoff sent off to prison after pleading guilty
Bernard Madoff pleaded guilty on Thursday to charges he orchestrated the biggest fraud in Wall Street history and was ordered to jail to await a sentence.


Gloom returns to markets, oil rebounds slightly
Economic gloom returned to financial markets on Thursday with warnings about further declines in demand and production hitting equities and boosting bonds.

Satyam sale process under way as three bidders register

At least three Indian companies may bid for a majority stake in Satyam Computer Services, the fraud-hit Indian outsourcer looking for a strategic investor.


Front page

Obama extends US sanctions against Iran
President Barack Obama said on Thursday he was extending sanctions against Iran as it continued to pose an 'extraordinary threat' to the national security, foreign policy and economy of the United States.

Japan orders ships on Somalia anti-piracy mission
Japan on Friday ordered two warships on an anti-piracy mission off Somalia where US, European and Chinese naval vessels have already been fending off pirates who staged over 100 attacks last year.


Dubai negotiating with firms on $10bn support package
The Dubai government is making final arrangements to distribute $10bn to help local companies with cash-flow problems during the current financial meltdown.

Amidst recession, Canadians eye Dubai for employment
Even as the pink slips have become a norm across the world in the downturn economy, some Canadians have pinned their hope on Dubai, believing that the global recession would not affect the oil-rich UAE as much as the rest of the world.


No new updates


Front page

Business community mourns Wahib Binzagr
A number of Saudi businessmen have expressed their sorrow over the death of Wahib Binzagr, a leading businessman and economist, saying his demise was a big loss for the Kingdom’s cultural and business circles.

Three years for shoe-thrower
The Iraqi journalist who threw shoes at President George W Bush was convicted yesterday of assaulting a foreign leader and sentenced to three years in prison, lawyers said.


Qatar Airways unveils robust expansion plans
Qatar Airways has announced plans to launch scheduled flights to Australia and further expand its operations in India and Europe with new routes from the start of the Northern Winter 2009 schedules.

G-20 to discuss meltdown fallout
In an effort to explain the role of the Gulf states with special reference to the global economic downturn, Saudi Arabia has announced it will participate in a high-profile meeting of G-20 finance ministers and central bank governors due to be held in London tomorrow.


No new updates


Front page

China 'ready to add to stimulus'
China has "adequate ammunition" to fend off the worst effects of the global economic slowdown and is ready to add to already announced stimulus measures if needed, the country's premier has said.

Madoff pleads guilty to $65bn fraud
Bernard Madoff, the disgraced former US financier, has pleaded guilty to 11 charges relating to an alleged $65bn fraud on Wall Street, and faces life in prison.


No new updates


Front page

Cabinet approves plan to protect judges for Hariri tribunal
The Lebanese Cabinet approved on Thursday a plan to protect Lebanese judges who take part in the Special Tribunal for Lebanon.

Three New TV reporters receive journalism awards
Three Lebanese television journalists have received the prestigious Inquirer journalism award, the Arab Press Network announced on Thursday.


Total assets of Lebanese banks show slight drop
The consolidated balance sheet of Lebanese commercial banks fell slightly by 0.50% in the month of January to LL141.382 trillion, or $93.8bn. Banks' assets at the end of 2008 stood at LL140.090 trillion, or $94.3bn.

Madoff 'apologises' for swindling $177bn, pleads guilty
Disgraced Wall Street investment guru Bernard Madoff on Thursday apologised for swindling thousands of clients of billions of dollars in one of the largest financial scams in history.


Front page

More holidays?
Private sector employees could soon be entitled to a minimum 30 days holiday a year, rather than the current 24 days.

Cleared workers to get jobs back
Workers held in custody on suspicion of criminal offences, but later cleared, will be entitled to get their jobs back, plus full back-pay, MPs decided yesterday.


WTO urges G20 leaders to focus on Doha round
The global economic crisis has made concluding the Doha round of trade talks even more urgent and the negotiations will test G20 leaders to the limit, the World Trade Organisation said yesterday.

First Leasing Bank posts net profit of $3m
Bahrain-based First Leasing Bank (FLB) made a net profit of $3m last year.

By: Staff Reporter
+44 20 8652 3214

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