In Monday's Middle East papers

10 August 2009 05:00  [Source: ICIS news]


Front page

Fatah charter retains right to resistance
Palestinian leader Mahmoud Abbas’s Fatah movement adopted a new charter which expresses commitment to the peace process but also reserves the right to resistance.

Archaeological treasure trove in Sohar lost in slumber
Hawra Al Kafir hill situated in Wadi Al Jazy in the Wilayat of Sohar is a treasure of rich archaeological remnants and historical features.


US-Swiss talks on UBS tax issue stalled
US-Swiss talks to settle a tax evasion row against UBS have stalled as the two states have yet to agree legal details on how to allow the transfer of some bank client data to Washington, a Swiss paper said on Sunday.

Regional banks in US are still bleeding red despite solid results
US banks, at the centre of the global economic crisis, reported robust earnings for the second quarter of 2009 even though many – especially smaller banks – remain in tight straits, experts say.


Front page

Iran military calls for opposition chiefs to face trial
A top official with Iran’s Revolutionary Guards called on Sunday for the main opposition leaders to be put on trial for trying to orchestrate a "velvet coup" after the disputed presidential election.

Typhoon pummels China, forces nearly 1m to flee
A typhoon pummelled China’s eastern coast on Sunday, toppling houses, flooding villages and forcing nearly a million people to flee to safety.


Du slashes international call rates by 50%
Du, the UAE’s No. 2 telecom service provider, launched a new mobile plan on Sunday that effectively slashes all international call charges by 50% to Dh1 per minute, while also offering up to 300 minutes of free national calls.

Equities fail to sustain early gains
Profit-taking in Aramex and Air Arabia wiped out early gains in Dubai on Sunday, while First Gulf Bank lifted Abu Dhabi’s benchmark index.


Front page

Charges against sex braggart prepared, prosecutors say
Three of the four men who have been arrested in connection to the Mazen Abdul Jawad incident, where a Saudi man bragged about his sexual escapades on an LBC programme last month, have had the charges against them outlined.

‘Resistance’ in Fatah’s new charter
Palestinian President Mahmoud Abbas’ Fatah movement renewed its charter on Sunday for the first time since the launch of the Middle East peace process in 1991 but Israel reacted angrily to its insistence on the right to resist.


Scotland is emerging as new hub of Islamic finance

London, the financial centre of the world, may be stealing the limelight as far as promoting and developing Islamic finance in the UK and beyond, but another part of the UK, Scotland, is emerging as a new if complementary hub of Islamic finance out of and into the UK.

Credit crunch hastens Gatehouse Bank, GSH merger
Another sign that these are difficult times, even for the Islamic banking sector, is the announced merger by The Securities House KSCC, a leading Shariah-compliant investment company listed on the Kuwait Stock Exchange, of its two London-based subsidiaries Gatehouse Bank PLC and Global Securities House (GSH) UK into one entity under the Gatehouse Bank brand.


Front page

China evacuates 1m as typhoon hits
Nearly one million people have been evacuated from China’s eastern coastal provinces as Typhoon Morakot toppled houses and flooded villages.

Pakistanis see US as biggest threat
A survey commissioned by Al Jazeera in Pakistan has revealed a widespread disenchantment with the United States for interfering with what most people consider internal Pakistani affairs.


No new updates


Front page

Cabinet formation process slows down
The process of the formation of a national-unity government seems to have considerably slowed down over the weekend given Prime Minister-designate Saad Hariri’s ongoing vacation in France and the emerging debate on the continued validity of 15-10-5 cabinet formula, in light of Progressive Socialist Party leader MP Walid Jumblatt’s departure from the parliamentary majority.

Police continue investigation into fate of Abdullah Ghandour
The fate of Lebanon’s North Commerce and Industry Chamber head Abdullah Ghandour remained unknown on Sunday after his disappearance on Friday when he left his office to head home in Tripoli.


EFG Hermes maintains 4% growth forecast

Figures released by the Arab Regional investment bank EFG Hermes maintained its growth forecast at 4% in 2009 and 3% for 2010, adding that the Lebanese economy is enjoying a strong year, as reported by Lebanon This Week, the economic publication of the Byblos Bank Group.

Clinton focuses on Angola oil mission

US Secretary of State Hillary Clinton on Sunday shifted the focus of her Africa trip to business as she works to ensure a steady oil supply from key producer Angola and counter China’s growing influence.


Front page

Charity to be named after Shaikha Hessa
His Majesty King Hamad announced yesterday that a charity will be established to honour the will of his late mother Her Highness Shaikha Hessa bint Salman Al Khalifa.

Iran’s police admit abusing prisoners
Iran’s police chief General Ismail Ahmadi Moghaddam admitted yesterday that detained protesters were abused in prison and the country’s top prosecutor said those responsible for the mistreatment should be punished.


UK law firms to manage banks
Central Bank of Bahrain (CBB) has appointed two of UK’s leading international corporate law firms to be administrators of two troubled Bahraini banks.

SICO gains top $3m
Bahrain-based Securities & Investment Company (SICO) earned a net profit of BD1.10m ($2.92) for the second quarter of this year compared to a loss of BD167,000 for the first quarter.

By: Staff Reporter
+44 20 8652 3214

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