In Wednesday's Middle East papers

14 October 2009 05:00  [Source: ICIS news]


Front page

Fatah accepts Egypt plan for unity deal
Palestinian President Mahmoud Abbas’ Fatah party accepted on Tuesday Egypt’s plan for separate signings of a reconciliation deal with Hamas after the movement balked at attending a unity ceremony.

Loyalty March in Sohar to mark His Majesty’s Royal Tour
Omani Women’s Association in the Wilayat of Sohar will organise Loyalty March on Wednesday evening to celebrate His Majesty Sultan Qaboos Bin Said’s meet-the-people annual Royal Tour, the first leg of which started on Monday with His Majesty’s visit to Al Batinah region.


Bank assets rise 9% on credit growth: CBO
Central Bank of Oman said on Tuesday that the total assets of commercial banks rose by 9% to 13,724.4m rials in August, on a year-on year basis, driven by 12.9% growth in credit, which stood at 9,512.5m rials in August.

Opec raises ‘10 demand outlook, oil touches $74 on report
Crude oil rose to a seven-week high near $74 a barrel on Tuesday after Organisation of the Petroleum Exporting Countries (OPEC) raised its 2010 demand forecast and the dollar weakened, boosting demand for commodities.


Front page

Obama health care push clears Senate hurdle
Obama’s historic drive to remake US health care this year passed ‘a critical milestone’, as a key Senate committee approved sweeping legislation to enact his top domestic priority.

Iran sanctions threats won’t work: Russian FM
Russia publicly pushed back on Tuesday against US efforts to threaten tough new sanctions if Iran fails to prove its nuclear program is peaceful, dealing an apparent setback to President Barack Obama’s hopes for Moscow’s backing for fresh penalties against Tehran.


Rents to slide in Abu Dhabi; declines in Dubai
Apartment rents are likely to ease further in the coming months in Abu Dhabi, while the declining trend in Dubai is continuing, enhancing the leasing choices available for residential and office spaces, according to the study report for the third-quarter prepared by real estate services firm Asteco.

Banks face Dh40b liquidity shortfall
Banks in the UAE face a liquidity shortfall estimated at Dh40bn, a top executive of Standard Chartered Bank said on Tuesday.


Front page

Judicial project to usher in new era
The inauguration by Custodian of the Two Holy Mosques King Abdullah of the first phase of a major project to upgrade judicial facilities early next year will open a new era for the Kingdom’s judicial system, said Justice Minister Muhammad Al-Eissa on Tuesday.

Two terrorists, security officer killed in battle
Two suspected Al-Qaeda terrorists were killed and another was arrested following a gunbattle with security forces in Jazan, Maj Gen Mansour Al-Turki, spokesman for the Interior Ministry, said Tuesday.


Savola leads joint venture bid for Turkish sugar plants
Savola Group, the Middle East’s largest sugar refinery, has teamed up with Turkish and Saudi partners to bid for six sugar mills being sold by the Turkish government.

Deal signed for life sciences R&D centre
A leading Saudi company and a research oriented German firm signed an agreement here on Tuesday that will establish an applied Life Sciences Research and Development (R&D) Center of Excellence for the Middle East and North Africa region.


Front page

US senate panel backs health plan
The US senate finance committee has voted to approve a healthcare package, boosting attempts by Barack Obama, the US president, to overhaul the present system.

Russia snubs US on Iran sanctions
The US has failed to win Moscow’s support for fresh sanctions against Iran over its nuclear programme, with Russia’s foreign minister saying that further sanctions would be "counter-productive".


Utility closure sparks Mexico anger

The Mexican government has found itself facing off against the country’s powerful electrical workers union, after announcing the closure of a state-run power company.

UK in $25bn sale of state assets

Gordon Brown, the British prime minister, has announced a $25bn sale of state assets, including the Channel Tunnel rail link, in a bid to cut soaring debt caused by the global economic crisis.


Front page

Turkey boosts ties with Syria amid renewed Israel row
Turkey boosted its ties with Syria on Tuesday at the first meeting of a newly formed cooperation council, only days after Ankara’s relations with Damascus foe Israel took a downturn.

Clinton fails to win Russian pledge on Iran sanctions
US Secretary of State Hillary Clinton failed to win specific pledges from Moscow on tougher sanctions against Iran during a visit to Russia Tuesday but hailed progress in other areas like arms control.


OPEC sees 2010 oil demand up almost 1%
A rebounding global economy spurred on mainly by China and other developing nations is expected to boost world oil demand by slightly under 1% next year, OPEC said on Tuesday while cautioning that the pace of recovery remains far from certain.

Oil prices reach new highs this year as dollar plummets
Oil prices neared new highs for the year Tuesday as the dollar slipped against other major currencies, demonstrating how much the weakened US currency can affect consumers globally.


Front page

19 cleared of killing policeman
Nineteen men accused of murdering a Pakistani policeman yesterday walked free from court after being acquitted due to a lack of evidence.

Russia warns over Iran curbs
US Secretary of State Hillary Clinton yesterday sought to present a united front with Russia on the Iranian nuclear crisis but Moscow stopped short of supporting tougher action if talks failed.


Bahrain economy ‘set to grow 4%’
Bahrain’s economy is set to grow by more than 4% next year, according to Economic Development Board (EDB) chief executive Shaikh Mohammed bin Essa Al Khalifa.

New call to develop GCC supply chain
Higher standards in GCC petrochemicals and chemicals industries could be achieved if the supply chain further evolves under a new comprehensive plan, experts said yesterday.

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