In Tuesday's Middle East papers

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


Front page

Sultanate’s H1 revenue falls 21.3%
Government revenue in the first six months (H1) of the financial year fell 21.3% to RO3,235m from RO4,108.5m in the same period of 2008 on the back of falling oil revenues following the global crisis which saw crude prices crashing from record levels.

Tsunami alert sounded across Indian Ocean
A tsunami alert has been sounded across the Indian Ocean following a massive quake measuring 7.6 on the Richter Scale striking in the Indian Ocean off India’s Andaman Islands.


Japan economic data lift recovery hopes
Hopes mounted on Monday that Japan’s economy is on the mend after its worst recession in decades as the current account surplus showed the first rise in 16 months and machinery orders rebounded.

Higher crude prices to fuel GCC’s drive to better budget figures
Gulf economies are on course to achieve better-than-projected budget figures in 2009 as higher world crude prices offset the global credit crunch, a study said.


Front page

Israel warns Lebanon over Hezbollah power-share
Israel will hold Lebanon responsible for any future Hezbollah attack should the Iranian- and Syrian-backed militia be brought into Beirut’s incoming government, Prime Minister Benjamin Netanyahu said on Monday.

Earthquakes shake Tokyo area, Indian Ocean
A powerful earthquake hit Tokyo and nearby areas shortly after dawn on Tuesday, halting trains and forcing two nuclear reactors to shut down for safety checks.


UAE scraps capital rule for start-ups
The UAE on Monday abolished the minimum capital requirement of Dh150,000 for setting up a private sector limited liability company, a long-awaited move aimed at stimulating business start-ups – and investment in the nation’s ailing economy.

UAE rated seventh most optimistic country
Consumers in the UAE ranked as the seventh most optimistic of any nation in the just-ended second quarter, a new survey says.


Front page

Kingdom reminds Palestinians of king’s appeal
The Council of Ministers on Monday expressed hope that the Palestinian factions would respond positively to the appeal made by King Abdullah to close ranks in the interest of a Palestinian nation, Higher Education Minister Khaled Al-Anqari, who is also acting minister of culture and information, said in a statement to the Saudi Press Agency.

Iran cancels all Saudi flights in Ramadan
Iran has cancelled all flights to Saudi Arabia during Ramadan to minimise the spread of swine flu, an aviation official was quoted as saying by Jumhuri Eslami newspaper on Monday.


Higher oil prices boost Gulf fiscal outlook
Gulf economies are on course to achieve better-than-projected budget figures in 2009 as higher world crude prices offset the global credit crunch, a study said.

Almajdouie Motors signs deal
Almajdouie Motors, Hyundai cars dealer in the Eastern and Northern regions, has signed an agreement with Abu Diyab Rent a Car to support its fleet with various models of Hyundai cars.


Front page

Media shouldn’t add fuel to fire: Larijani

Majlis Speaker Ali Larijani has urged media outlets to abstain from giving widespread coverage to statements that are detrimental to the country’s national interests, saying media "should not add fuel to the fire".

Tehran to host Intl Holy Quran Exhibition
Tehran’s Imam Khomeini Mosalla will host the 17th International Holy Quran Exhibition from 16 August to 14 September.


New Zealand economy can recover as currency rises, Westpac says

New Zealand’s economy will emerge from the worst recession in three decades even with a currency around 70 US cents, according to Westpac Banking Corp.

Latvia’s economy shrinks 19.6% in Q2
Latvia’s economy shed nearly one-fifth of its value in the second quarter compared with the same period last year, official data showed on Monday, signaling a deepening of the Baltic state’s recession.


Front page

Storm topples six China buildings
Hundreds of people are feared dead, thousands stranded, buildings have toppled over and more than a million people have fled their homes after Typhoon Morakot lashed Taiwan and China with heavy rains and strong winds.

Taliban attacks Afghan poll office
At least two civilians and three Afghan police officers have been killed after the Taliban attacked a governors’ compound and election office near Kabul, just 10 days before the country’s elections.


No new updates


Front page

Hariri returns to Beirut to re-evaluate cabinet lineup
Prime Minister-designate Saad Hariri was "re-evaluating" the government formation process away from the media, a source close to the Future Movement told The Daily Star on Monday.

Israel repeats threat to hit Lebanon if Hizbullah attacks
Israel on Monday said it would not accept Hizbullah as a political entity and repeated its threat that it will hold all of Lebanon responsible for any attack from the Shiite group.


Shatah warns cabinet formation delay will shake confidence
Finance Minister Mohammad Shatah warned on Monday that investor confidence in Lebanon would be badly shaken if the country remains without a government for too long.

Proposal to allow Lebanese mothers to open bank accounts for children
Lawyer Ghassan Mahmoud suggested a solution to allow mothers to open a certain type of bank accounts for their children without violating current Lebanese laws.


Front page

Trade push
Bahrain and Thailand yesterday pledged a new era in trade and investments ties. The leading role of Prime Minister Shaikh Khalifa bin Salman Al Khalifa in strengthening bilateral ties was also praised by his Thai counterpart Abhisit Vejjajiva as the two leaders held officials talks.

55 die in bombing wave
Two truck bombs targeting a tiny sect in a village in northern Iraq and a spate of bloody attacks across the country killed at least 55 people yesterday and wounded more than 250, officials said. Business

High oil prices ‘boost fiscal outlook in Gulf’
Gulf economies are on course to achieving better-than-projected budget figures this year as higher world crude prices offset the global credit crunch, a study said.

Markets facing correction say fund managers
Fund managers investing in the Middle East and North Africa (Mena) region are united in expecting a correction, according to the latest update on the sector from Standard & Poor’s Fund Services.

By: Staff Reporter
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