In Monday's Middle East papers

15 September 2008 06:00  [Source: ICIS news]

 

OMAN TRIBUNE

Front page

Oman wins golden award at Expo 2008
The Sultanate’s pavilion at the International Water and Sustainable Development Exhibition “Expo 2008” held in Zaragoza, Spain, from June 14 to Sept.

Hunt for militants begins
The Indian police hunted on Sunday for militants behind coordinated bomb attacks against busy shopping areas in the nation’s capital that left 20 dead and close to 100 injured.

Business

Barclays seen frontrunner as Lehman talks resume
Regulators and bankers resumed a third day of talks on Sunday in a desperate attempt to reach a deal to sell Lehman Brothers and prevent the struggling investment bank from flooding jittery financial markets with toxic assets at fire sale prices.

Oman Air appoints Nokkala as vice-president planning
Oman Air has recently appointed Markku Nokkala as vice-president planning, according to a company release.

KHALEEJ TIMES

Front page

More than troops needed in Afghanistan: Petraeus
US Gen David Petraeus said Sunday that experience in Iraq shows it will take political and economic progress as well as military action to tackle increased violence in Afghanistan.

New clashes kill 16 alleged militants in Pakistan
Pakistani security forces killed at least 16 suspected militants and wounded 25 others in a besieged tribal region the latest round of a military offensive with no end in sight, officials said.

Business

Property stocks lead slide in Dubai
Property stocks led losses on Dubai’s main index, which on Sunday plunged 3.4% at 4,114.74 points, its lowest close since August 2007, as international investors sold their shares. The Abu Dhabi bourse plummeted 2.7% to close at 3,925.08, the lowest since October.

Global banks pledge $70bn to ease credit crunch
A consortium of 10 global commercial and investment banks announced plans Sunday to provide $70bn to help offset a credit squeeze amid an anticipated collapse of Wall Street giant Lehman Brothers.

ARAB TIMES

Front page

Indian embassy to take up matter with authorities; Police nab amnesty seekers
A large number of Indian amnesty seekers were reportedly rounded up near their embassy on Saturday morning by security authorities, a reliable source told the Arab Times.

MPs planning another session to review steps taken against firms
Disappointed with the outcome of the emergency parliamentary session last Wednesday in which the problems of expatriate workers were discussed, the MPs and parliamentary blocs agreed to look into the procedures taken by the government and put pressure on the executive authority to start investigations on those involved in human trafficking and visa trading, reports Al-Qabas quoting sources from the National Assembly.

Business

Lehman may need miracle to survive 
The Wall Street firm that started the US cotton trade before the Civil War and financed the railroads that built a nation might soon fade into history.

Germany urges US govt to find Lehman solution fast 
Germany called on US authorities Saturday to find a solution for crisis-hit bank Lehman Brothers before Asian markets reopen for trading early Monday.

ARAB NEWS

Front page

Occupiers offered hefty reparation - Israelis see this as a way out of one-state solution
Israeli Vice Premier Haim Ramon yesterday said that occupiers who agree to voluntarily leave their West Bank homes, east of the separation wall, will be eligible for 1.1m Israeli shekel (about $305,640) each in compensation.

Courtyard expansion makes room for over 700,000
More than 700,000 worshippers will be able to pray at the same time when the 12,000 additional sq. meters of courtyard around the Grand Mosque is completed, bringing the grand total to 300,000 sq. meters.

Business

Jordan’s trade gap widens 43.4%
The deficit in Jordan’s balance of trade grew by 43.4% in the first seven months of the year, to Dn4.222bn ($5.96bn) from Dn944bn in the same period of 2007, according to official statistics released yesterday.

DMI to raise capital for expansion, says Janahi
Dar Al-Maal Al-Islami Trust (DMI), described as a pioneer in Islamic banking and economy, is planning to raise its capital by $100m to $400m with equity capital being $550m through a rights issue to finance expansion of its entities.

TEHRAN TIMES

Front page

Iran cleared up many ambiguities on nuclear program
Foreign Minister Manuchehr Mottaki said on Sunday Iran has cleared up many ambiguities surrounding its nuclear program through cooperation with the UN nuclear watchdog.

Moscow store to open Iranian book section
Biblio-Globus book store in Moscow will establish a section providing books about Iran in Persian and Russian in near future.

Business

Philippines inflation to put brakes on historic economic growth
After 2007 saw the best economic growth in three decades, the Philippines is now struggling to control surging inflation, meaning interest rates may have to rise, putting a cap on recent successes.

Persian Gulf central bankers may adopt monetary union draft
Central bank governors of five Persian Gulf states will probably approve a new draft accord for monetary union at a meeting in Jeddah, Saudi Arabia, this week, the latest step toward a single currency for the region.

ALJAZEERA

Front page

Zimbabwe rivals agree cabinet posts 
Zimbabwe's opposition Movement for Democratic Change (MDC) is to get more cabinet posts than Robert Mugabe's Zanu-PF in the long-sought unity government, the country's state-run radio has reported.

Markets brace for Lehman collapse 
Financial markets are bracing themselves for a possible collapse of Lehman Brothers and the potential wide-ranging implications for the global financial system, with the US Federal Reserve and a banking consortium announcing measures to offset a further credit crunch.

Business

Italian airline 'faces bankruptcy' 
Italian airline Alitalia has said it cannot guarantee any flights after Sunday because it may not be able to secure fuel from suppliers wary about whether they will be paid.

Euro ministers reject stimulus plan 
Finance ministers from the 15 countries who use the euro currency have ruled out a sweeping stimulus plan to ward off recession but gave themselves some extra room for manoeuvre on spending.

THE DAILY STAR

Front page

Hariri rejects preconditions on dialogue
Parliamentary majority leader Saad Hariri said during an iftar dinner on Sunday that the success of the upcoming dialogue requires that no preconditions be set by the rival sides.

Army seizes arms from Islamic faction in Tripoli
The Lebanese Armed Forces on Sunday confiscated weapons belonging to the "Islamic Tawheed Movement - Hashem Minkara group" at a random military checkpoint in the northern city of Tripoli. The weapons were being transported in a Mercedes car driven by members of the group.

Business

Lebanese central bank retained credibility despite crisis
As a central banker, I should not show emotions. Yet, let me admit that I feel happy and honored to be among you tonight. At a recent senate hearing, Mr. Alan Greenspan [former chairman of the US Federal Reserve] was talking about the future levels of interest rates. A senator understood what  Greenspan was saying and told him.

Aridi killing mars earlier rebound in Beirut markets
Trader and investor confidence fell after the Saleh Aridi assassination, undercutting an early-week rebound on the Beirut Stock Exchange reflected by a $10.8m cross trade on Solidere stocks, according to Blominvest bank’s The Lebanon Brief.

GULF DAILY NEWS

Front page

Oil push 
Bahrain is to expand and develop its oil fields by linking up with a major international company. The government yesterday agreed in principle to develop Bahrain Oil Field, and set up a new firm to undertake the project, which aims to significantly boost productivity.

A tradition comes alive... 
Nationwide celebrations were held last night to mark the annual Gargaoun festivities. The night marked the midpoint of Ramadan. Children dressed in colourful clothes with fancy bags toured houses, singing traditional songs, and collecting sweets and nuts.

Business

Top Minolta ranking for ACS 
Almoayyed Commercial Services (ACS), the office automation division of Almoayyed International Group, has won second place in the overall world ranking of the Konica Minolta outward programme.

Sama plans to buy six planes  
Saudi Arabia's low-cost carrier Sama Lel Tayaran is looking to expand its fleet in the wake of the partnership deal it signed with Bahrain Air last month.

 

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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