In Monday's Middle East papers

17 November 2008 05:00  [Source: ICIS news]

OMAN TRIBUNE

Front page

Israel kills 4 fighters
An Israeli air strike killed four fighters in the Gaza Strip on Sunday even as Interim Israeli Prime Minister Ehud Olmert accused the Hamas movement of "shattering" the Gaza truce after rockets hit Israel.

Mantheri hails rights panel
Dr Yahya Bin Mahfoudh Al Mantheri, Chairman of the State Council, affirmed that the issuance of the Royal Decree to establish the National Commission for Human Rights reflects His Majesty Sultan Qaboos Bin Said’s keenness to set in motion the provisions of the Basic Law of the state and is in line with the Royal Approach towards making the Omani citizen the focus of the development process.

Business

MSM nosedives 6% as Gulf stocks crash on global woes
Muscat Securities Market (MSM) retreated 6.1% to below the 6,000-point mark on Sunday as stock markets in the Gulf states plunged on the week’s opener with panic from the fallout of the global economic crisis continuing to dampen investor sentiment.

Omani exports zoom 74.3%
Total exports from the Sultanate zoomed 74.3% to RO932.8m during the first six months of the fiscal compared to RO535.2m recorded in the corresponding period a year ago.

KHALEEJ TIMES

Front page

Crisis sends Japan into first recession in seven years
Japan slid into its first recession in seven years in the third quarter as the financial crisis curbed demand for Japanese exports, with the economy minister and analysts offering a bleak outlook for the economy.

Obama vows to exit Iraq and rebuild US ‘moral stature’
President-elect Barack Obama vowed to pull troops out of Iraq, crush Al-Qaeda in Afghanistan and shut down the Guantanamo Bay camp as part of a dramatic foreign policy break with George W. Bush.

Business

DFM slips 6%, Gulf shares plunge
Stock markets in the Gulf states plunged on the week’s opener on Sunday as panic from the fallout of the global economic crisis continued to dampen investor sentiment.

Dynamic Tower named ‘Best Inventions of 2008’ : Time
The Dynamic Tower, the world’s first rotating skyscraper, has been named one of Time Magazine’s "50 Best Inventions of the Year" for its revolutionary design and innovations.

ARAB TIMES

Front page

UN can help Kuwait and Iraq to handle painful reminders of past
UN Special envoy for Iraq Staffan de Mistura on Friday said Kuwait’s reestablishment of full diplomatic relations with Iraq is a very important step, but Kuwait can further help Iraq by continuing the dialogue on the "painful" pending issues.

Ministries discuss proposal on banning permits of visa traders
Representatives from the Ministries of Interior, Commerce, Industry, Social Affairs and Labour met recently to discuss a proposal on banning the issuance of licences or sponsorship permits to owners of companies involved in visa trading and those who employ workers not under their sponsorship, Al-Anba reports quoting a reliable source from the General Immigration Department.

Business

KSE faces confidence crisis as index sinks below 9,000
Trading was suspended in Kuwait Stock Exchange on the last trading day of the week following a court order.

Saudi stocks fall to lowest level since March 2004
The stock market in oil powerhouse Saudi Arabia, the largest in the Arab world, slumped heavily on the first trading day of the week on Saturday, when shares ended 7.4% lower.

ARAB NEWS

Front page

Land sharks make a killing out of illegal properties
Money and power are the two driving forces behind illegal land grab.

Wadi Dela or Asir’s death valley
A total of 359 people have died and 1,522 sustained serious injuries during the past 26 years in car accidents at the Wadi Dela mountain pass in the Asir region.

Business

Monetary system reform will not be an easy task
The two crucial and fundamental issues at stake behind the posturing at the G-20 summit in Washington are the reform of the International Monetary Fund (IMF) (or the need for a new global monetary order) and the future of the US dollar - whether its days as the world's single currency of choice has had its day.

Enough money for spending: Al-Jasser
Saudi Arabia, which unveiled plans to launch a $400bn development program, has ample funds for more investment spending over the next few years despite global financial turmoil, a central banker said yesterday.

TEHRAN TIMES

Front page

20-year plan can deliver prosperity if properly implemented: Rafsanjani
Expediency Council Chairman Akbar Hashemi Rafsanjani said on Saturday that the 20-Year Outlook Plan can deliver prosperity if the people discipline themselves and properly implement it.

ECO Cultural Institute to collaborate with Iran in cinematic productions
Iranian Deputy Culture Minister for Cinematic Affairs, Mohammadreza Jafari-Jelveh and ECO Cultural Institute Director Mohammad Rajabi signed a memorandum of understanding for boosting bilateral cooperation.

Business

UK on ropes as bank throws in the towel
These are difficult days for the Bank of England. An institution that sets itself high standards and prides itself on its dignity and decorum is getting a battering.

Taiwan mulling shopping scheme to boost consumption: report
Taiwan plans to launch a multibillion dollar shopping coupon program to stimulate domestic consumption amid the global economic crisis, it was reported on Sunday.

ALJAZEERA

Front page

Japan slides into recession
Worse-than-expected third quarter puts Japan in recession for first time since 2001.

Obama vows to shut Guantanamo
US president-elect also pledges to pull troops from Iraq to rebuild "America's moral stature".

Business

US auto bailout battle intensifies
Democrats want government to advance $25bn in loans to help Detroit survive financial crisis.

G20 agrees on financial action plan
World leaders to focus on six measures to combat the economic crisis.

THE DAILY STAR

Front page

Olmert orders plans drawn up for massive offensive against Gaza
Interim Israeli Premier Ehud Olmert accused Hamas on Sunday of "shattering" the Gaza truce after two rockets hit Israel, which the Jewish state followed with an air strike that killed four Palestinian resistance fighters.

Appointing Hillary secretary of state would be bold move – Kissinger
Speaking to a session of the World Economic Forum's 24th India Economic Summit, held in partnership with the Confederation of Indian Industry, former US Secretary of State Henry Kissinger endorsed US Senator Hillary Clinton, rumoured to be the favorite for the post in President-elect Barack Obama's administration.

Business

G20 meeting agrees on plan to restore global growth, prevent future crises
World leaders, meeting for a crisis summit here, have agreed on an action plan to restore global growth and prevent future financial upheaval while promising new spending plans, a trade deal and a set of reforms.

Morocco set for talks on protecting bluefin tuna and fishery business
The survival of the Atlantic and Mediterranean bluefin tuna population, exploited to the brink of collapse, could depend on international negotiations starting Monday in Marrakesh, Morocco.

GULF DAILY NEWS

Front page

Forums alert
The Cabinet yesterday cautioned against anyone "addressing Bahrain's internal issues from dubious foreign platforms".

Gulf growth 'will outpace global giants'
Economic growth in Bahrain and the Gulf will outpace the world's industrial giants next year, experts are predicting.

Business

West 'must pump in $1 trillion'
Western governments will need to pump at least $1 trillion into the financial system to get the world out of the current credit crisis, and they will.

$478m firm on way
Naseej promoter shareholders have signed a deal to create a company next month with an issued and paid-up share capital of BD180m (477.5m).

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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