In Thursday's Middle East papers

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

OMAN TRIBUNE

Front page

HM gets more greetings
His Majesty Sultan Qaboos Bin Said has received more cables of greetings on the occasion of the 38th Glorious National Day from leaders of the brotherly and friendly countries and senior international officers.

Indian navy destroys pirate ship in Gulf of Aden
An Indian warship destroyed a pirate “mother vessel” in the Gulf of Aden, the navy said on Wednesday, as bandits demanded a ransom for a Saudi super-tanker seized in the most daring sea raid yet.

Business

US carmakers, Japan banks look for funds
China has told police to ensure stability as its economy slows, Japan’s No 3 bank sought to beef up its depleted capital on Wednesday and markets fretted about the stricken US car industry.

Indian rupee closes weaker than 50vs dollar for first time
The Indian rupee closed weaker than 50 per dollar on Wednesday for the first time as it was sideswiped by a falling stock market and demand for dollars to arbitrage a gap to offshore non-deliverable forward rates.

KHALEEJ TIMES

Front page

Dow falls below 8,000, S&P at 5-year low
Wall Street hit levels not seen since 2003 on Wednesday, with the Dow Jones industrial average plunging below the 8,000 mark amid a dour economic outlook from the Federal Reserve and worries over the fate of Detroit’s three automakers.

Suspected US missile strikes deep inside Pakistan
The US military apparently struck at Islamic militants outside Pakistan’s lawless tribal belt for the first time on Wednesday, firing a missile that killed six suspected insurgents taking refuge away from the conflict zone along the Afghan border.

Business

EU plans 130bn-euro stimulus plan: Germany
The European Commission is planning a 130bn-euro (163bn-dollar) economic stimulus programme, a spokeswoman for the German economy ministry said on Wednesday.

Japan, China agree to work together on trade
Japan and China on Wednesday pledged to work together on trade issues as Asia’s two largest economies fend off the impact of the global financial crisis.

ARAB TIMES

Front page

‘Suspend constitution’; Grilling filed
MPs Waleed Al-Tabtabaei, Mohammad Hayef Al-Mutairi and Abdullah Al-Barqash ended controversies surrounding the grilling against HH the Prime Minister Sheikh Nasser Mohammad Al-Ahmad Al-Sabah when they officially presented the request to the National assembly.

‘Hike salaries of expat doctors’
Members of Kuwait Medical Association (KMA) met Undersecretary at the Ministry of Health Dr Ibrahim Abdulhadi in his office at the Ministry Diwan to discuss several issues related to doctors working in the ministry, reports Al-Seyassah daily.

Business

Kuwait to be only GCC state to post external surplus: Citi 
Gulf Arab countries could witness an abrupt decline in external surpluses next year if oil prices average $50 a barrel, with the emirate of Dubai being most vulnerable to a downturn, Citigroup said on Tuesday.

Great potential in Kuwaiti private sector: minister 
There is a great potential in the Kuwaiti private sector which enables it to effectively contribute to the national economy, said Minister of Commerce and Industry Ahmad Baqer on Tuesday.

ARAB NEWS

Front page

Naming erring companies in news reports carries huge risks
Different interpretations of the legal boundaries of publishing the names of establishments that commit violations, or are accused of committing violations such as hospitals that commit malpractice, restaurants that serve stale food or employers who don’t pay their workers has had a chilling effect on the media’s ability to publish their names.

Israel refuses to ease blockade
Israel stood fast yesterday by its decision to clamp shut cargo crossings with the Gaza Strip, brazenly rejecting pleas from United Nations chief Ban Ki-moon to ease the blockade.

Business

‘Eradication of poverty remains the biggest challenge’
While free market capitalism is thriving globally and bringing unprecedented prosperity to many, the reality is that half the world lives on two dollars a day or much less.

Exclusive China market planned for Riyadh
A SR300m China Mart is soon to be established in Riyadh to display Chinese products ranging from furniture to ceramics.

TEHRAN TIMES

Front page

Asian mayors meet in Tehran
Tehran Mayor Mohammad Baqer Qalibaf announced on Wednesday that the Asian mayors meeting in Tehran is the beginning of efforts to establish more contacts between nations.

Aiish hires box office draws for “Rhinoceros”
Farhad Aiish has employed Iranian cinema stars Shahab Hosseini and Ateneh Faqih-Nasiri for his adaptation of the play “Rhinoceros”.

Business

Spain’s economy slows with more tough times ahead
Spain is hurtling toward recession, showing economic contraction in the third quarter and with scope for a rebound limited, the OECD said on Wednesday, as it called for reforms expected to be painful for Spanish workers.

Pakistan lowers growth outlook to slowest in 7 years
Pakistan, on the verge of a bailout from the International Monetary Fund, expects the economy to grow at the slowest pace in seven years as inflation averages 20% and industrial and farm output slows.

ALJAZEERA

Front page

Al-Zawahiri lashes out at Obama 
Al-Qaeda has warned Barack Obama, the US president-elect, against sending more troops to Afghanistan and vowed to continue attacks against "criminal" America.

Deadly blast at Thai protest site 
An attack on anti-government protesters occupying the Thai prime minister's office has left one protester dead and 23 wounded.

Business

World markets hit by fresh blows 
Fears of deepening economic trouble in the US has sent global stock markets diving again.

Paulson: US bailout 'no panacea' 
Henry Paulson, the US treasury secretary, has defended his management of the recent $700bn government financial bailout, saying the funds were "not a panacea" to cure the country's economic problems.

THE DAILY STAR

Front page

UK, Syria cooperating on intelligence - Miliband
British Foreign Secretary David Miliband said on Wednesday that Britain and Syria have established cooperation between their respective intelligence agencies.

Rice promises Jumblatt more US support for Lebanon
US Secretary of State Condoleezza Rice said onTuesday that her country would maintain what she called described as its support for a sovereign, free and democratic Lebanon.

Business

Recession in Gulf states would have dire consequences for Lebanon - experts
Participants in an economic conference in Beirut warned on Wednesday that Lebanon will be gravely affected if the oil-rich Arab Gulf states experience a recession.

Drivers' unions call strike for better benefits
Most taxi- and bus-drivers' unions in Lebanon declared on Tuesday a two-day strike to press the government to improve the government benefits of the drivers.

GULF DAILY NEWS

Front page

Skills alert 
A call has gone out to create an army of Bahraini plumbers, farmers, mechanics, electricians and carpenters.

Contact centre first 
A plan to build Bahrain's first National Contact Centre, creating 200 jobs for Bahrainis, was announced yesterday.

Business

New challenges facing Islamic banks analysed 
The structural advantages and potential challenges faced by Islamic banks in the global economic crisis will be examined by the WIBC McKinsey Competitiveness Report.

Addax Bank launches $35m fine art fund 
Bahrain-based Addax Bank in partnership with the Fine Art Fund Group yesterday announced the launch of a $35m fine art fund.

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
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