In Wednesday's Middle East papers

22 April 2009 05:00  [Source: ICIS news]


Front page

UN meeting adopts anti-racism motion

Delegates at a United Nations conference shunned by the United States adopted on Tuesday a final declaration against racism, xenophobia and intolerance as they sought to shake off the impact of a walk-out triggered by remarks by Iranian President Mahmoud Ahmadinejad.

Global crisis to cost more than $4 trillion: IMF

The International Monetary Fund (IMF) on Tuesday raised its estimate of the cost of the global financial crisis to more than $4 trillion in writedowns on soured credit.


RBI trims two key rates to kickstart demand

India’s central bank on Tuesday cut two key short-term interest rates by 25 basis points each, in a bid to kickstart the Asian giant’s sluggish economy.

UK retail inflation drops for first time in 50 years

British retail prices in March posted their first annual drop in nearly 50 years, official data showed on Tuesday, stoking fears the recession-hit country now faces an additional threat from deflation.


Front page

Obama opens door to terror cases against Bush officials

President Barack Obama opened the door to prosecuting Bush-era officials who authorised terror interrogations seen by critics as torture, wading into a deep legal and political thicket.

Iran sends mixed signals to US by jailing reporter

The Obama administration is reaching out to Iran. In return, Iran is - well, it is complicated.


Second $10bn bond sale likely this year

The Department of Finance expects later this year to issue a second $10bn tranche of government bonds to help Dubai meet its financing needs, having already sold bonds worth this same amount to the UAE Central Bank, the emirate’s top finance official said on Tuesday.

UAE economy seen to rebound in 2010

Propelled by a robust balance of payment position and a vibrant non-oil sector, the UAE economy will be able to rebound in 2010 after its first contraction this year, a leading investment bank said.


Front page

Khorafi cautions … world watching us

"I fully support calls for the proper implementation of Kuwaiti laws and the Constitution, but we should not neglect the rights of all suspects," former National Assembly Speaker Jassem Al-Khorafi said after filing his candidacy on Monday.

Al-Barrak takes Bouramiya stand, says ready to face security bodies

Candidate from the Fourth Constituency Musallam Al-Barrak has reiterated the statement that led to the arrest of Daifallah Bouramiya, asserting he is ready to face the security authorities in case a similar action is taken against him.


Aman says opportunities in Kuwait limited, eyes Saudi, Abu Dhabi JVs

Kuwaiti Islamic investment firm Aman Investment Co plans to launch a $500m real estate project with an affiliated firm in Abu Dhabi and a real estate company in Saudi Arabia, its chief executive said.

Kuwait Energy Co announces new oil finds in Egypt

New oilfields in Egypt will help independent oil firm Kuwait Energy Co (KEC) to boost their production capacity to 15,000 barrels of oil equivalent per day (boepd) this year, a senior company official said on Monday.


Front page

Bangladesh PM pushes for more worker deployment

Custodian of the Two Holy Mosques King Abdullah held wide-ranging talks with Bangladesh Prime Minister Hasina Wajed, who arrived here yesterday on a four-day official visit to the Kingdom.

US troops will leave as scheduled, says Iraq minister

The top US commander in Iraq announced in March he was sending two combat brigades home from Iraq, marking the first major drawdown of US troops there since the "surge" ended last year.


New real estate project to change face of Makkah

Makkah Gov. Prince Khaled Al-Faisal yesterday inspected the plan for a massive real estate development project named Makkah Gate.

Car market is expected to recover in fourth quarter

The world economic crisis has impacted Saudi Arabia’s car market to the extent that sales are down by 20 to 25% across the board, according to a market leader.


No new updates


Front page

Sri Lanka warned of 'catastrophe'

Red Cross says tens of thousands of civilians trapped as army closes in on Tamil Tigers.

Zuma expects 'decisive mandate'

Parties conclude election campaigns, with dominant ANC predicting a massive turnout.


UK retail inflation turns negative

Britain's retail price index falls to -0.4%, its lowest rate since 1960.

UK unemployment passes 2m

More than 2m people are out of work in Britain, the country's highest unemployment rate in 12 years, official data has shown.


Front page

Turkey promises to boost both military and civilian ties with Lebanon

Turkey's president promised greater military, humanitarian and trade ties with Lebanon on Tuesday in the first official visit between leaders of both countries in more than a half century.

Egypt reports links between alleged Hizbullah cell, Lebanese government

Egyptian investigators have reportedly uncovered links between an alleged Hizbullah cell operating in Egypt and Lebanese government officials.


IMF confident of Lebanon's ability to sidestep immediate effects of crisis

The International Monetary Fund (IMF) once again confirmed Lebanon's ability to overcome the immediate effects of the global financial crisis.

Lebanon urged to develop plan to protect financial system from economic crisis

President of the World Union of Arab Banks, Joseph Torbey urged the Lebanese government and decision makers on Tuesday to adopt a national work plan aimed at strengthening and protecting the financial and monetary system in Lebanon in the face of the global financial crisis, especially that the public debt in the country is increasing continuously.


Front page

Brilliant minds

Bahrain is now reaping the brilliant fruits of investing in its young Bahrainis, Prime Minister Shaikh Khalifa bin Salman Al Khalifa said yesterday.

'Sex slave' case woman testifies

A woman allegedly gang raped and robbed after being abducted from her home appeared in court for the first time yesterday.


Bapco's key operational issues are reviewed

Bapco's current operational performance was reviewed at a key meeting yesterday.

Continued Bahrain travel sector 'riding out recession'
Bahrain's travel industry is riding out the global recession, says a leading business pioneer.

By: Staff Reporter
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