In Wednesday's Middle East papers

03 June 2009 05:00  [Source: ICIS news]


Front page

Sultanate, Russia sign N-energy deal
A memorandum of understanding (MoU) was signed at the Russian Federal Atomic Energy Agency (Rosatom) on Tuesday between the Sultanate’s Ministry of Foreign Affairs and Russia’s atomic agency (Rosatom), dealing with cooperation in the peaceful use of nuclear power.

Fahd receives Fujairah ruler
HH Sayyid Fahd Bin Mahmoud Al Said, Deputy Prime Minister for the Council of Ministers, on Tuesday received Sheikh Hamad Bin Mohammed Al Sharqi, Member of the UAE Supreme Council and Ruler of Fujairah, who was on a visit to the Sultanate.


Barclays shares plunge 15% on Ipic stake sale
Shares in British bank Barclays tumbled by nearly 15% on Tuesday after Abu Dhabi’s state-owned International Petroleum Investment Co (Ipic) said it would sell part of its holding.

Al Khusaibi meets Australian officials
Secretary-General of the National Economy Ministry HE Mohammed Bin Nasser Al Khusaibi on Tuesday received Tim Yeend, head of the Australian team participating in the free trade negotiations with the GCC states.


Front page

Obama to hear Saudi worries on Iran, discuss oil
US President Barack Obama is set to discuss with King Abdullah the Arab-Israeli conflict, diplomatic overtures towards Iran and oil prices when he starts a tour to the Middle East and Europe in Riyadh on Wednesday.

Debris confirms crash of Air France Flight 447
An airplane seat, a fuel slick and pieces of white debris scattered over three miles of open ocean marked the site in the mid-Atlantic on Tuesday where Air France Flight 447 plunged to its doom, Brazil’s defence minister said.


Barclays sale earns $2.5bn for Abu Dhabi
Abu Dhabi sold more than 11% of Barclays, making $2.5bn from an investment that helped the British bank through the financial crisis and raising fears more may cash in on a recent rally in bank shares.

Jafza says Dh5bn of projects on track
Jebel Ali Free Zone or Jafza, operator of Dubai’s logistics and industrial special economic zone, said on Monday that it has seen an increase in interest from American and European businesses keen to expand in the region.


No new updates


Front page

Obama’s visit to Kingdom evokes hope for the future
An opinion poll in the Kingdom about what the Obama visit today means to the general public shows that most of the people feel that it would bear fruits.

Obama to discuss Mideast peace
Custodian of the Two Holy Mosques King Abdullah will hold wide-ranging talks with US President Barack Obama who begins his first Middle East trip today.


Saudi Customs exempts 92 products from tariff
Saudi Arabia will lift customs tariff on 92 new products on 6 June in accordance with the regulations of the World Trade Organisation (WTO).

Al-Assaf lauds IDB initiatives
Saudi Finance Minister Ibrahim Al-Assaf yesterday commended the tremendous progress achieved by the Jeddah-based Islamic Development Bank (IDB) as well as the bank’s efforts to boost the development of member countries.


Front page

Russia: Chances for Iran - 5+1 talks are ‘truly good’
Foreign Minister Sergei Lavrov said on Tuesday that Russia has submitted renewed proposals to Tehran and that the conditions are "truly good" for talks between Iran and the 5+1 group by considering the position of the new US administration.

Zarrinkub’s book on Rumi to be published in US
The English version of Abdolhossein Zarrinkub’s "Step by Step to a Meeting with God" will be released in the United States in the near future.


What bankruptcy? Dow surges 221
Inspired by fresh signs the US economy is slowly healing, the Dow climbed more than 200 points on Monday even as General Motors became the largest industrial bankruptcy in American history.

JPMorgan, Amex to sell stock to get out of TARP
JPMorgan Chase & Co (JPM.N) and American Express Co (AXP.N) on Monday announced plans to sell $5.5bn of common stock, hoping to position themselves to quickly repay funds from the government's bank bailout plan.


Front page

Air France jet wreckage found
Brazil's military has found the wreckage of the Air France passenger jet that disappeared with 228 people on board, the country's defence minister says.

Obama sets off on Middle East trip
Barack Obama has set off for the Middle East where he is expected to reach out to the Muslim world in a speech in Cairo.


No new updates


Front page

Comprehensive reforms require 'will' for change - Sleiman
President Michel Sleiman said on Tuesday that comprehensive reforms in the country could not be achieved without the "will" for change.

Sirens heard in south Lebanon as Israel rehearses 'doomsday'
Air raid sirens that could be heard from Lebanese border towns sounded across Israel on Tuesday, directing millions of Israelis towards bomb shelters and blast-proof rooms in the country's biggest-ever civil defence drill.


GM's Mideast chief insists firm remains committed to operations in region
General Motors' Middle East head said the oil-rich region's operations are a "vibrant" part of the automaker's business and it will remain open despite the company's fall into bankruptcy.

Dubai ruler says 2015 economic plan to be adjusted
Dubai's 2015 plan for economic growth would need to be readjusted in order to align it with the economic realities brought on by the global financial crisis, the United Arab Emirates' (UAE) Prime Minister and the head of Dubai, Sheikh Mohammad bin Rashid al-Maktoum said on Monday.


Front page

Fishing tragedy sparks warning
A missing fisherman was found drowned yesterday while his two colleagues were rescued as they clung to their upturned boat.

Suspects remanded
Two men, who allegedly hurled a firebomb at a Pakistani man's car, were yesterday remanded in police custody for 45 days.


South Pars project on track
Norway's StatoilHydro should complete a project at Iran's giant South Pars gasfield this year and has no further plans for investment in the country for now, a senior executive said yesterday.

Chinese firm to buy Hummer
General Motors yesterday announced plans to sell its hulking Hummer brand, reportedly to a Chinese firm, as the car giant's bankruptcy plan cleared its first hurdle in court.

By: Staff Reporter
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