In Tuesday's Middle East papers

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

OMAN TRIBUNE

Front page

GDP posts 19.8% fall in ’09 Q1
The Sultanate’s Gross Domestic Product (GDP) in the first quarter of 2009 fell 19.8% to RO4.087bn at current rates compared to RO5.094bn in 2008, according to the preliminary estimates of the National Economy Ministry.

Asa’ad receives Palestine, Bangladesh envoys
On behalf of His Majesty Sultan Qaboos Bin Said, HE Sayyid Asa’ad Bin Tariq Al Said separately received, on Monday at his office, Ambassador of the State of Palestine to the Sultanate HE Said Issa Abu Ammarah and Ambassador of the People’s Republic of Bangladesh HE Mohammed Abdulhanan, who bade Sayyid Asa’ad farewell at the end of their tour of duty as their country’s ambassadors to the Sultanate.

Business

Board okays tenders worth RO70.1m
The Tender Board held its eighth meeting of the year on Monday.

World Bank slashes forecast for developing nations in 2009
The World Bank slashed its outlook for developing nations’ economies, estimating growth at a meager 1.2% this year while warning more measures were needed for a recovery to take hold.

KHALEEJ TIMES

Front page

No fighting near Afghan homes: New US battle rule
The US commander in Afghanistan will soon order US and NATO forces to break away from fights with militants hiding among villagers, an official said, announcing one of the strongest measures yet to protect Afghan civilians.

Six dead, 70 injured in subway collision in US capital
Two Metrorail trains collided on Monday at the height of Washington’s evening rush hour, killing six people and injuring 76 in the worst-ever accident in the US capital’s subway system, officials said.

Business

World bank sees growth in MENA slowing to 1.6%
Economic growth in the Middle East and North Africa will slow this year to 1.6%, less than a third of what it was in 2008, due largely to lower oil prices and weaker demand in Europe for the region’s exports, the World Bank said in a report on Monday.

Abu Dhabi Finance to expand in mortgage market
Leading mortgage provider Abu Dhabi Finance has launched a campaign to ‘significantly expand’ its reach in the coming months.

ARAB TIMES

No new updates

ARAB NEWS

Front page

‘Abdullah unified Arab ranks’
The Council of Ministers yesterday highlighted Custodian of the Two Holy Mosques King Abdullah’s pioneering role in unifying Arab ranks and supporting Arab and Islamic causes in international forums.

Riot police attack Mousavi supporters
Riot police attacked hundreds of demonstrators with tear gas and fired live bullets in the air to disperse a rally in central Tehran yesterday, carrying out a threat by the country’s most powerful security force to crush any further opposition protests over the disputed presidential election.

Business

Saudi stocks decline to seven-week low
Saudi Arabia’s index slumped to its lowest finish for seven weeks as most Gulf Arab markets fell on weakening oil prices and worries over banks’ exposure to two troubled Saudi conglomerates.

GCC signs free trade accord with EFTA
The six-nation Gulf Cooperation Council (GCC) and four European states, which are members of the European Free Trade Association (EFTA), signed a free trade agreement (FTA) in Norway yesterday.

TEHRAN TIMES

No new updates

ALJAZEERA

Front page

Iranian protesters defy warning
Anti-government protesters have continued their demonstrations on the streets of Tehran, the Iranian capital, despite a warning from the country's security forces.

Deaths in Washington train crash
Six people have been killed and dozens of others injured after two subway trains collided in Washington DC.

Business

No new updates

THE DAILY STAR

Front page

Parliament to elect speaker on Thursday
The oldest MP, Abdel-Latif al-Zein, 79, called on Monday for a Parliament to session on Thursday, 25 June at 10:30am to elect a speaker for the 2009 Parliament.

Justice minister rejects proportional representation
Justice Minister Ibrahim Najjar said in comments published Monday he was against an electoral law based on proportional representation, adding that such a law could have "drastic repercussions."

Business

Arab world sees increase in FDI in 2008
Direct foreign investments to the Arab world increased 20% in 2008 compared to the previous year, the general director of the Arab investment and export credit guarantee corporation, Fahad al-Ibrahim, said on Monday.

Lebanon banking sector has low risk rating – Fitch
In its risk assessment of 86 banking systems in advanced and emerging economies, Fitch Ratings indicated that Lebanon's banking sector was among 25 banking systems that came in the 'low strength' category on its Banking System Indicator (BSI), as reported by Lebanon This Week, the economic publication of the Byblos Bank Group.|

GULF DAILY NEWS

Front page

Games first for Bahrain
All eyes will be on Athens tomorrow as a group of Bahraini children take on young athletes from around the world at the International Children's Games.

Heart attacks 'rare among young'
Deaths among young people from cardiac arrest are extremely rare in Bahrain compared to other countries, according to a leading doctor.

Business

BAB to promote Islamic banks
The Bahrain Association of Banks (BAB) is to have a national pavilion for the first time at this year's World Islamic Banking Conference (WIBC) in the kingdom.

Bourse selects Nasdaq to develop new system
Kuwait Stock Exchange (KSE) has chosen Nasdaq OMX Group to develop its trading system as part of a plan to introduce greater transparency, a bourse official said yesterday.

By: Staff Reporter
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