In Tuesday's Middle East papers

OMAN TRIBUNE

Saudi Arabia scales back assault on Yemeni rebels
Saudi Arabia is scaling back its assault on Yemeni rebels along the mountainous border and has captured 200 or more rebels, a Saudi government adviser said on Monday.

GDP growth to remain positive
The pressure on the public finances of the Sultanate and balance of payments is expected to continue in 2009, according to HE Hamoud Bin Sangour Al Zadjali Executive President of the Central Bank of Oman (CBO).

Gold price hits record high as dollar wanes
Gold prices hit a record above $1,100 on Monday with the dollar weakening after a pledge by G20 countries to keep economic recovery pumped up with easy money.

Mena region needs 40m new jobs over 10 years: WB
Private investors in the Middle East and North Africa (Mena) are deterred by the region’s regulatory environment from spending enough to generate badly needed jobs and stimulate growth, the World Bank said in a report.

United we stand: Mohammed
His Highness Shaikh Mohammad bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said on Monday that the United Arab Emirate is joined in its ambitions and determinations, and critics should stop questioning its unity.

UAE world No 8 in consumer confidence
The UAE ranks as the eighth-most optimistic country in the world after its consumer confidence index soared by 13 points to 102 in the third quarter.

Nakheel begins handing over 980 homes
Property developer Nakheel has started to hand over nearly completed homes at its Marina Residences project on Palm Jumeirah, the Dubai government-owned company said on Monday.

UAE Exchange and MasterCard launch ‘smart’ payroll card
UAE Exchange and MasterCard Worldwide have teamed up to introduce a salary payment card that they hope will help them tap a potential customer base of over three million employees.

Best Haj services urged
Makkah Gov Prince Khaled Al-Faisal on Monday urged government officials and private agencies involved in this year’s Haj operation to work as one team in order to provide the best possible services to the guests of God.

Zero tolerance for intruders: Cabinet
The Council of Ministers declared on Monday that it would not show any leniency towards those who violated the Kingdom’s territorial sovereignty.

GIB closes Saudi bond issue after raising SR2bn
Gulf International Bank (GIB) announced today the successful closure of its Saudi riyal-denominated bond issue, which was launched in Saudi Arabia last week through the bank’s Riyadh branch.

Lulu forays into Saudi Arabia
Lulu Hypermarket, the retail arm of UAE based Lulu Group, will open its first hypermarket in Saudi Arabia on Wednesday.

Ahmadinejad proposes OIC common market
Iranian President Mahmoud Ahmadinejad has put forward a proposal calling for the establishment of a common market among Organisation of the Islamic Conference member states.

Iranian culture minister warns Arab satellites about dropping Al-Alam
Iran’s Minister of Culture and Islamic Guidance Mohammad Hosseini warned Arab satellite operators against dropping Al-Alam News Network.

Singapore to keep manufacturing ‘integral’ to economy: minister
Singapore aims to keep its manufacturing industry an "integral" part of the economy as the nation seeks new strategies to help it grow faster than other advanced countries, Trade Minister Lim Hng Kiang said.

London economy leading UK regions out of recession
London’s economy is recovering faster than the rest of the UK from the country’s worse recession since World War II and posted the strongest growth in almost three years in October, Markit Economics said.

Karzai hits back against critics
Afghanistan’s president has come out fighting against calls by the US to crack down on corruption, arguing that his government is not solely to blame and saying that the West is in his country only for its own ends.

Germany marks fall of Berlin Wall
The 20th anniversary of the fall of the Berlin Wall has been celebrated in Germany, with world leaders and thousands of people braving the rain in commemorative events.

Cadbury rejects hostile Kraft bid
Cadbury, the British confectioner, has rejected a hostile $16.4bn takeover bid from Kraft Foods, describing it as "derisory".

Karzai seeks Muslim trade relations
Hamid Karzai, the Afghan president, has appealed for closer trade ties with fellow Muslim countries to help Afghanistan break its cycle of conflict.

Ahmadinejad attacks capitalism at Islamic summit in Turkey
Iranian President Mahmoud Ahmadinejad on Monday slammed capitalism for the global financial meltdown as he joined Muslim leaders at a summit in Turkey amid increasing pressure on his country over its nuclear drive.

Riyadh ‘will not tolerate’ breaches of sovereignty
The Saudi Cabinet on Monday stressed that the kingdom would not "tolerate any violation of the sovereignty of its territory", in a statement issued at the end of its weekly meeting.

World Bank urges Arab states to relax regulations to encourage private investors to spend more on economy
Private investors in the Middle East and North Africa are deterred by the region’s regulatory environment from spending enough to generate badly needed jobs and stimulate growth, the World Bank said in a report.

Dubai ruler stresses emirate’s close ties with oil-rich neighbour Abu Dhabi
Dubai’s ruler on Monday strongly emphasised the emirate’s close ties to its oil-rich neighbour Abu Dhabi, in an apparent effort to quiet critics of his debt-burdened city-state.

Farewell
Bahrain yesterday mourned the death of His Royal Highness Prince Mohammed bin Salman bin Hamad Al Khalifa, uncle of His Majesty King Hamad.

Cooperaton vital to fight crunch
The Islamic world can overcome the current global financial crisis by boosting cooperation among member countries, provided they have the political willingness to back the drive for stronger economic and commercial ties and explore new markets and opportunities, a group of Organisation of the Islamic Conference (OIC) leaders heard yesterday.

Key Bahrain project is showcased
Durrat Al Bahrain is exhibiting at the Kuwait International Real Estate Exhibition in Kuwait City which opened yesterday.

40 candidates sign up for BCCI polls
Forty candidates have submitted applications to contest in the Bahrain Chamber of Commerce and Industry (BCCI) elections for which nominations closed yesterday.