In Thursday's Middle East papers
13 November 2008 05:00 [Source: ICIS news]
OMAN TRIBUNE
Front page
Majlis A’Shura studying draft state budget 2009
HE Sheikh Ahmed Bin Mohammed Al Isa’ee, Chairman of Majlis A’Shura, opened the first session of the second annual term of the Majlis A’Shura on its premises on Wednesday.
Israel kills four fighters in clashes at Gaza border
Four Palestinian fighters were killed and an Israeli soldier wounded in clashes on the Gaza border on Wednesday.
Business
Global markets extend slide
Asian and European stock markets were rattled on Wednesday by investor fears that the ongoing financial crisis will wreak havoc at the world’s biggest companies, analysts said.
UK to be hit hard, says BoE
The British economy will shrink sharply next year and inflation could fall to just below 1% in two years, the Bank of England (BoE) predicted on Wednesday, suggesting further interest rate cuts to come.
KHALEEJ TIMES
Front page
Lawmakers to grill US automakers on bailout request
Lawmakers plan to question chief executives of stricken US automakers on their pleas for an industry bailout, while the Bush administration responded coolly on Wednesday to an aid plan being shaped by Democrats.
Iran tests missile -Israel in easy reach
Iran said it successfully test-fired a new generation of long range surface-to-surface missile on Wednesday one that could easily strike Israel and as far away as south-eastern Europe with greater precision than earlier models.
Business
DFM slides 24% so far this month
The Dubai Financial Market General Index fell 5.48% to close at 2214.80 on Wednesday bringing the total decline to twenty four per cent this month.
Sensex declines 3.1% on crisis concerns
India’s benchmark stock index fell to the lowest in two weeks amid concern economic growth may weaken further and as Ratan Tata, chairman of the Tata Group, asked chief executives at group companies to save costs.
ARAB TIMES
Front page
Med tests before marriage; Demolitions ‘bulldoze’ right of assembly: MP
MPs linked socially vital diwaniyas to immoral acts after seeing a picture of wine bottles in a diwaniya while the Committee for Removal of Encroachments on Public Properties was presenting its report during Tuesday’s session.
Kuwait condemns violence in Afghanistan, urges assistance
Kuwait late Monday condemned the escalation of violence in Afghanistan and urged the world body to assist the government to solidify peace and stability after decades of war and destruction.
Business
Local banks bear brunt of market rout
The Kuwait listed banking sector profitability grew 14%YoY in 9M08, slightly lower than our expectations (16%YoY) for the sector.
GCC stocks plunge over uncertainty
Stock markets in the oil-rich Gulf states continued to bleed on Tuesday, led by the Dubai bourse, as investors remained jittery over the uncertain global and regional economic outlook.
ARAB NEWS
Front page
Pothole plague blamed on contractors, not rain
Many recently paved roads in Jeddah have been greatly damaged from the rainfall that occurred last week, and Sami Nimr, a civil engineer, says this is due to inadequate asphalting standards and unscrupulous contractors.
Passport official says Haj permits can’t be forged
Drivers who transport domestic pilgrims without permits to Makkah will face fines of SR10,000 per passenger, a senior Passport Department official said yesterday.
Business
Jordan’s trade gap widens
The deficit in Jordan’s balance of trade grew by 33.6% in the first three quarters of the year to 5.195bn dinars ($7.34bn) from 3.89bn dinars in the same period of 2007, according to official statistics released yesterday.
Galileo by Travelport to boost travel trade
Galileo by Travelport, one of the world’s largest global distribution system (GDS) providers operating both the Galileo and the Worldspan brands providing real-time travel information and booking capabilities to online and offline travel agencies, was formally launched at a meeting of travel trade here on Tuesday night.
TEHRAN TIMES
Front page
Iranian FM meets top N. Korean officials
Iranian Foreign Minister Manouchehr Mottaki on Wednesday met separately in Pyongyang with North Korean Supreme People’s Assembly (SPA) Chairman Choe Thae Bok, President of the Presidium Kim Yong Nam, his counterpart Pak Ui Chun, and Foreign Trade Minister Li Kwang-gun
Iran’s Naji wins more top accolades of world cinema
November 11 was the day for Reza Naji as he won prizes at two top international festivals in Australia and Syria for his role in “The Song of Sparrows”.
Business
Russia may have to tap reserves fund in crisis
Russia may have to tap into rainy-day reserves of billions of dollars to help state finances through the economic crisis and declining oil profits, the country’s finance minister said on Wednesday.
3rd international brand confab kicks off
The 3rd International Brand Conference kicked off on Wednesday at IRIB Conference Center.
ALJAZEERA
Front page
Paulson calls for US bailout change
Henry Paulson, the US treasury secretary, has said he wants to stop buying up bank mortgage debts as part of the $700bn US government bailout plan and instead use some of the funds to secure 'non-bank' credit, such as credit cards.
Sudan announces Darfur ceasefire
Omar al-Bashir, Sudan's president, has announced a unilateral ceasefire by government forces in the country's western Darfur region.
Business
Oil 'could soon reach $100'
The cost of a barrel of oil could soon head towards $100 because crude reserves cannot be exploited fast enough to keep pace with global demand, the International Energy Agency has said.
China to get $600bn economy boost
The Chinese government has announced a nearly $600bn stimulus package to boost its economy amid recession fears following the global financial crisis.
THE DAILY STAR
Front page
Baroud backtracks on cooperation with Syria after March 14 balks
Interior Minister Ziyad Baroud's recent visit to Syria have raised controversies over the revival of Syria's security role in Lebanon, which forced the minister to reformulate the outcomes of his visit.
Analysts says Fatah al-Islam 'confessions' aimed to bully Syria's foes in Lebanon
Syria was trying to bully its antagonists in the March 14 coalition by airing on state television "confessions" of alleged Fatah al-Islam members last week linking the group to March 14's Future Movement, a number of analysts told The Daily Star on Wednesday.
Business
Beirut's end-of-service bill draws fire
The controversial end-of-service bill which aims to provide better benefits to retired employees came under harsh criticism again from both the private sector and trade unions on Wednesday.
UNDP, NGO hope to spread bright ideas
The Lebanese Center for Energy Conservation (LCEC) and the United Nations Development Program (UNDP) announced a media campaign on Wednesday aimed at encouraging consumers to use energy-efficient light-bulbs.
GULF DAILY NEWS
Front page
United for peace
Bahrain has always been an oasis of co-existence and a meeting point for all religions and cultures, His Majesty King Hamad said last night.
Premier returns
Prime Minister Shaikh Khalifa bin Salman Al Khalifa returned yesterday from China after attending the fourth session of the world urban forum in Nanjing.
Business
Arab Insurance Group posts net loss of $11m
Bahrain-based Arab Insurance Group (Arig) went into the red in the first nine months of the year suffering a net loss of $10.8m against profits of $10.3m last time.
KFH-Bahrain net profit rises 49% to $80m
Kuwait Finance House-Bahrain (KFH-Bahrain) saw net profit jump 49% in the first nine months of the year, up from BD20.1m ($53.3m) last time to BD30m ($79.5m).
ICIS Copyright © Reed Business Information 2009
Author: Staff Reporter+44 20 8652 3214
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