April 19, 2012

THURSDAY, APRIL 19, 2012

@alwatandaily

Issue No. 1409

20 PAGES

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Justice Bloc proposes strict decency law

Possible imprisonment, fine and deportation for men selling women’s apparel Mohammed Al-Salman Staff Writers

KUWAIT: The Justice Bloc continues to put forth controversial proposals, and in that vein it has come up with a new proposal that would bar men from selling women’s clothing and makeup products.

The draft law also includes a ban on the display of women’s lingerie in shop-fronts, and suggests that separate days be allocated for men and women in sports halls, swimming pools and gyms so as to prevent them from mingling.

In addition, the bill allows shop owners three months to adjust their status and heed the law once it comes into force. Failure to comply with the law involves one week imprisonment, a fine of

100 to 500 Kuwaiti dinars and the closure of the violating shop or facility for a period of one week.

The violator will face deportation if they happen to be expatriates.

Those who proposed the law argued that it seeks to stamp out certain practices that have spread of late and are considered to be indecent, and deplored the rampancy of trends that are inconsistent with the values and traditions of the Kuwaiti society, which according to them are based on Islamic Sharia.

Meanwhile, certain MPs within the Majority Bloc have intensified their efforts to expedite the interpellation of the Minister of Finance Mustafa Al-Shamali by addressing more parliamentary queries to him.

This comes at a time when the Popular Action

Amir graces awards ceremony of Quran Prize

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Millions of tires remain in the Rhayya dumping ground, a day after firefighters successfully extinguished a fire breakout in the area, Kuwait, April 18, 2012. (Al Watan) More on 2

Suu Kyi to visit Norway, Britain after 24 years in Myanmar YANGON: Nobel Peace Prize laureate and newly elected lawmaker Aung San Suu Kyi will travel outside Myanmar for the first time in 24 years after accepting invitations to visit Norway and Britain in June, her party said on Wednesday.

Her travel caps months of dramatic change in Myanmar, including a historic by-election on April 1 that won her a seat in a year-old parliament that replaced nearly five decades of oppressive military rule.

Her trip will include a visit to British city Oxford, where she attended university in the 1970s, said National League for Democracy (NLD) party spokesman Nyan Win. “But I don’t know the exact date yet,” Nyan Win said, adding he did not know which country she would visit first. She has previously indicated that it would be Norway.

Suu Kyi, 66, was first detained in 1989, and spent 15 of the next 21 years in detention until her release from house arrest in November 2010, refused to leave the country during the brief periods when she was not held by authorities, for fear of not being allowed to return.

She won one of her party’s 43 seats in this month’s by-election following a series of reforms under President Thein Sein, a former general, including the release of political prisoners, more media freedom, dialogue with ethnic militias and an exchange rate unification seen crucial to fixing the economy.

Suu Kyi was invited to visit Britain when she met Prime Minister David Cameron in Yangon on Friday. At the time, she said the fact that she would consider the offer, rather than reject it outright, showed “great progress” had been achieved in Myanmar.

“Two years ago I would have said thank you for the invitation, but sorry,” she added.

Suu Kyi’s long refusal to leave Myanmar characterized her steely determination to defy the ruling junta, which offered to release her from house arrest to be with her late husband, Michael Aris, who died of cancer in Britain in 1999.

Their story was played out on the big screen late last year in the film “The Lady”, as she is affectionately known, with Malaysian action star Michelle Yeoh More on 5 playing Suu Kyi.

Al-Assads attempt to salvage image amid fresh bloodshed

Bloc is expected to review its draft interpellation against the minister during a planned meeting tomorrow (Friday) where the members are due to approve the motion and make it available to the Majority, which has scheduled a meeting on Sunday at MP Shaya Al-Shaya’s diwaniya.

In a related vein, a government source acknowledged Al-Shamali’s readiness to face the motion and refute any claims contained therein regardless of the outcome of the discussions to be held.

Speaking to Al Watan, the source added that the government will carry on its approach of countering interpellations and refuting them, adding that although the Majority Bloc’s interpellation will be treated differently, the government will remain committed to constitutional parameters.

CONTINUED ON PAGE 2

Japan cuts April Iran oil purchases 77%

TOKYO: Japan will slash its crude purchases from Iran by almost 80 percent in April compared to the first two months of the year as buyers comply with Western sanctions, trade sources said. The cuts, amounting to 250,000 barrels per day (bpd), are the steepest yet by the four Asian nations who buy most of Iran’s 2.2 million bpd of exports, as tightening sanctions make it tough to pay, ship and insure the oil. The United States and Europe are trying to squeeze the revenues Iran makes from its 2.6 million bpd oil exports to force it to halt a nuclear program they fear will be used to make weapons but which Tehran says is for power generation. Japanese buyers will load just 75,000 barrels per day (bpd) of oil in April, trade sources said, a drop of 77 percent from the average imports of 322,900 bpd in the first two months of the year. Customs data More on 10 is not yet available for March imports.

A handout picture released by the Syrian Arab News Agency (SANA) shows Moroccan advance team leader Colonel Ahmed Himmiche (center left), a member of a UN monitors team tasked with monitoring the UN-backed ceasefire in Syria, and two other UN monitors as they visit a suburb of the Syrian capital Damascus on April 18, 2012. (AFP)

DAMASCUS: Syrian forces shelled rebel areas anew on Wednesday, six days into a UNbacked ceasefire, sparking new pressure for unfettered nationwide access for an observer mission intended to oversee it.

UN chief Ban Ki-moon, who was due to report to the Security Council later on Wednes-

Egypt grand mufti visits Jerusalem’s Al-Aqsa mosque

JERUSALEM: Egypt’s grand mufti visited Jerusalem’s Al-Aqsa mosque on Wednesday, a senior Muslim official said, despite claims by an internationally prominent cleric that such visits are a sop to Israel.

Azzam Al-Khatib said Ali Gomaa, Egypt’s highest religious authority, “came for a religious visit to Al-Aqsa mosque” along with Jordan’s Prince Ghazi bin Mohammed, King Abdullah II’s cousin and advisor on religious issues.

The two men also visited the Church of the Holy Sepulcher and the Greek Orthodox patriarchate, said Khatib.

All three sites are located in Jerusalem’s Old City, which is controlled by Israel, which considers the city its eternal and indivisible capital.

In Amman, Jordan’s ministry of awqaf and Islamic affairs said the visit was in accordance with a command from the Prophet Mohammed to visit only three mosques on pilgrimage - Al-Aqsa and the mosques in Mecca and Medina, Saudi Arabia.

It added that Palestinian president Mahmud Abbas had “called on Muslims everywhere to visit Al-Aqsa and revitalize it by filling it with worshippers and pilgrims.” “This trip ... is seen as an effort to encourage Muslims who are able to visit Al-Aqsa Mosque, one of Islam’s three holiest sites, and Islam’s first Qiblah (direction of prayer),” it said.

It comes after Qatar-based Sheikh Yusuf Al-Qaradawi, an Egyptian, said in a religious edict (fatwa) last month that Muslims should not visit Jerusalem “because it requires dealing with Zionist embassies to obtain visas.” “Such visits might also give legitimacy to the occupation and could be seen as normalisation,” Al-Qaradawi said in March.

His fatwa has drawn the ire of Palestinian awqaf minister Mahmud Al-Habbash, saying it was “weird and contradicts the Quran and the Prophet’s teachings.”

“The fatwa serves Israeli policies that seek to isolate Jerusalem and Palestinians, who should be supported,” Habbash said. -AFP

US warns Boko Haram may be planning attacks in Abuja

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Bahrain activists vow “days of rage” for Grand Prix

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day on the progress of talks between an observer advance team and Syrian officials, urged Damascus to give the mission free access across the country. But a pro-government newspaper reported that a protocol governing the mission’s operations might still be days away.

More on 4

Panetta apologizes for photos of US soldiers posing with corpses

WASHINGTON: The White House and the Pentagon voiced regrets Wednesday for newly published photographs that purport to show US troops posing with the bodies of dead insurgents in Afghanistan, with Defense Secretary Leon Panetta calling them a violation of America’s “core values.”

“My apology is on behalf of the Department of Defense and the US government,” Panetta told a news conference following a NATO meeting in Brussels.

At the White House, President Barack Obama’s chief spokesman, Jay Carney, echoed Panetta’s comments, saying the incident was “reprehensible.” It was the latest in a series of recent Afghan battlefield embarrassments for the United States, and it came at a time when Washington is still working with President Hamid Karzai in Kabul to smooth over strained relations.

Carney said the picture-taking incident does not represent the standards of the US military and said that Obama believes the situation needs to be investigated and those responsible held accountable. He said he didn’t know if the president had seen the photos.

The photos were published in Wednesday’s Los Angeles Times. One shows members of the 82nd Airborne Division posing in 2010 with Afghan police and the severed legs of a suicide bomber. The same platoon a few months later was sent to investigate the remains of three insurgents reported to have accidentally blown themselves up - and soldiers again posed and mugged for photographs with the remains, the newspaper said. A photo from that incident appears to show the hand of a dead insurgent resting on a US soldier’s shoulder as the soldier smiles. Top US military and civilian officials rushed to condemn the soldiers’ actions Wednesday, calling them repugnant and a dishonor to others who have served in the conflict. The Army said an investigation is under way.

Panetta said he condemned the behavior, but said, “This is war. I know that war is ugly and it’s violent, and I know that young people sometimes caught up in the moment sometimes make very foolish decisions.”

The Times said that a soldier provided the newspaper with a series of 18 photos of soldiers posing with corpses. The soldier served in Afghanistan with the 82nd Airborne’s 4th Brigade Combat Team from Ft. Bragg, N.C., and said the photos point to a breakdown in leadership and discipline that he believed compromised the safety of the troops, the newspaper reported.

Even before the photos were published online, Pentagon press secretary George Little said Panetta “rejects the conduct depicted in these two-year-old photographs.”

“Anyone found responsible for this inhuman conduct will be held accountable in accordance with our military justice system,” Little said. -AP

Experimental gel may help those with advanced Parkinson’s

Israeli police arrest a young member of Khaled Natshe’s family as they are forced to hand over their home to Jewish settlers in the Israeli annexed east Jerusalem neighborhood of Beit Hanina, on April 18, 2012. (AFP)

CONNECTICUT: A gel form of two common Parkinson’s drugs delivered via a feeding tube-like device may help people with advanced disease reduce medication side effects and possibly avoid brain surgery according to HealthDay News. That’s the report from researchers who found the experimental levodopa-carbidopa intestinal gel works better than a standard pill regimen in reducing “off” time in people with advanced Parkinson’s disease.

About 1 million people in the United States are living with Parkinson’s disease, a progressive movement disorder marked by tremor, slowness and/or rigidity. The disease slowly destroys the nerve cells in the brain that produce the chemical dopamine, which controls muscle movement.

Treatment with oral levodopa-carbidopa -- brand names include Sinemet, Sinemet CR and Parcopa -- helps replace dopamine levels, but higher doses and long-term use of the oral drugs can cause troublesome side effects, including spontaneous and involuntary movements (dyskinesias) or “off” times. The new gel is infused through a portable pump connected to a gastric tube that feeds the small intestine. “Pills have a shorter half-life, but delivering the medication via gel allows for more continuous delivery and repairs the brain levels in a more normal way,” said study author Dr. C.Warren Olanow, a professor of neurology and neuroscience at the Mount Sinai School of Medicine, in More on 15 New York City.

Supporters of Salafi preacher and barred presidential candidate Hazem Salah Abu Ismail sit in front of the offices of the electoral commission where they are taking part in a sit-in to show their rejection of his disqualification, in Cairo April 18, 2012. (Reuters)

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ALWATAN DAILY

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THURSDAY, april 19, 2012

Rhayya fire extinguished, EPA and Municipality form committee to tackle issue Municipal technical committee recommended setting up six sites of 50,000 square meters of space for dumping solid waste in Al-Salmi area Compiled by Al Watan Daily

KUWAIT: Rhayya area’s fire was extinguished successfully and the process of filling up would continue to prevent such an incident from re-happening, said Kuwait Fire Service Directorate (KFSD) here Wednesday.

KFSD’s Deputy Chief of firefighting services and human resource Brigadier Yusuf AlAnsari told (Kuwait News Agency (KUNA) that the location of the fire, a graveyard for disposable tires, was secure, adding that the area was in the process of being filled with sand so such an incident would not happen again in the future.

No injuries have occurred and hopefully the fill up would finish this evening, said the official.

He thanked all those who participated in the effort to put out the fire, saying that all government sides involved helped to save a lot of lives.

Meanwhile, MP Mohammad Al-Dallal affirmed that the fire is a dangerous accident and the relevant authorities such as Environment Public Authority (EPA) have to play more effective role in protecting the public health of the people.

The lawmaker pointed out that this misfortune can be considered as a part of a series of dangerous environmental accidents, adding that a number of lawmakers’ signatures were collected in order to call for assigning a one hour of the parliamentary session on Tuesday to discuss the fire case. “We hope the government would submit detailed information on the

Photo shows the millions of remaining tires that were saved from the blazing flames after it was extinguished on Wednesday, April 18, 2012. (Al Watan)

The firefighters’ cars are seen at the dump site, where the tires fire was extinguished on Wednesday, April 18, 2012. (Al Watan)

circumstances of the case as well,” he added.

Al-Dallal said that he hopes EPA would be tasked to follow up on the case and submit its report within three months.

Furthermore, the Municipal technical committee recommended setting up six sites of 50,000 square meters of space for dumping solid waste in Al-Salmi area, due to closure of Rhayya dumping site.

The committee agreed, at a meeting, under chairmanship of Farz Al-Mutairi, to establish 10 sites for installing communications towers on highways and approved a proposal to build prayer corners on highways, with every two corners to be 25 kilometers apart.

Members of the commission set a date for holding a special meeting to discuss issued related to the city’s industrial city, located in Al-Salmi area. They also approved a proposal to launch a new sub street in Al-Rabiya, to be parallel with the main street.

However, they did not okay a plan for removing external staircases in housing districts, for this matter would be tackled by the special sub-committee tasked with removing construction infringements on state property.

In a similar development, Kuwait Municipality Manager Ahmad Al-Subeih formed a

fire, adding that the formed committee will observe the neighboring areas to indicate if they have suffered from any pollution due to fire, particularly the residential areas, schools, and clinics. EPA has also recommended the Ministry of Education to cancel the morning queues at schools of Saad Al-Abdullah area and urging students to stand in open areas.

He emphasized that authority dealt with the case according to the regulations. He rejected accusing EPA of being held accountable for such incident, wherein some figures had accused the authority of not contributing with effective solutions to deal with the problem. The incident trigged some officials to ask the MPs to speed up approving the new environment law which has been locked in the drawers.

Regarding the efforts of authority in solving the problem, Al-Enzi said that the authority is currently participating with the committee to remediate the dump sites. He added that EPA had recommended to the Industry Public Authority and Kuwait Municipality to solve the problem for months, but the two neglected it.

The municipal council also delayed the proposals for floating bids to sell the tires, adding that the problem still exists because more than five million tires are available in the area till now.

committee yesterday which composed of members from EPA to work synergistically on the case. The committee will setup an emergency room that will operate around the clock, in addition to assisting other authorities involved in the matter, such as the Ministries of Defense and Interior, National Guard, Fire Directorate, Kuwait Oil Company, and citizens who volunteered. Al-Subeih applauded the efforts exerted by all authorities and cooperative societies for providing people working with water, meals, and juices. He added that the municipality employees were present since the fire broke out and supervised the entrances and exits of fire brigades as well as guarding the site.

In addition, the Chairman of the Environment Department at EPA Eng. Mohammad Al-Enzi affirmed that all mobile and stable stations observing the degree of air pollution around the site surrounding Rhayya indicate that the rate of pollutants is decreasing rapidly. He added that the three stations located in Metla, Jahra and Saad Al-Abdullah area as well as the mobile stations in Kabed and Sulaibiya area observe the air pollution continuously and record the results every five minutes.

Al-Enzi affirmed that the rate of pollutants has decreased rapidly after extinguishing the

Justice Bloc proposes strict decency law CONTINUTION FROM PAGE 1

A parliamentary source warned against getting around the constitutional tolls by resorting to a Cabinet reshuffle where Al-Shamali is moved to another ministerial portfolio before the interpellation is discussed. According to the source the shortcomings and violations involving the minister make his continuity in Cabinet untenable. “The majority of MPs are fervent to back the interpellation and go the extreme in forcing the minister into resignation because a no-confidence vote is a foregone conclusion, seeing as there are enough votes to pass a no-confidence vote against him,” the source elaborated.

For his part, MP Riadh Al-Adsani called on Al-Shamali to scrutinize all the records at the Public Authority for Social Securities in order to preserve the rights of retirees and to seriously intervene to halt losses estimated at 1.8 billion Kuwaiti dinars, representing 9 percent of the State budget of KD 20 billion.

MP Musallam Al-Barrak, in the meantime, addressed a question to the minister asking about different expenditures and transformational payables in Section

5 of the budget. The lawmaker also asked Al-Shamali to shed light on the transfer of KD 20 million to accounts of individuals, companies and state officials.

He also inquired about the transfer of about KD 20 million to the accounts of senior officials in local and foreign banks. In another development, the Rapporteur for the Legislative Committee announced that the Ministry of Interior has withdrawn the request it previously made for the immunity of MP Faisal Al-Mislem to be lifted. He added that the committee asked the ministry to choose either to come to the committee to explain the request or withdraw it. The rapporteur described the request as an unacceptable precedent and expressed hope that it wouldn’t be repeated.

In other news, MP MohammadAl-Dallal announced that an effort has been initiated to gather the signatures of MPs so that an hour of next Tuesday’s session can be set aside for the discussion of the Jahra inferno. He called on the government to provide a detailed statement of the measures it intends to take to tackle the issue. Meanwhile, a number of MPs have expressed disgruntlement over a party organized by the Iranian Embassy at the Crown Plaza to mark Iran’s Army Day.

Kuwaitis lay corner stone for housing units in quake-hit town ISTANBUL: A delegation of leading Kuwaiti philanthropists on Wednesday laid corner stone for planned pre-fabricated houses for residents of the southeastern Turkish town of Van, recently hit with a devastating earthquake.

The delegation, representing the International Islamic Charitable Organization, headed by Dr. Abdullah Al-Maatouk, also met with the governor of the town, Anders Meit, who expressed gratitude to the Kuwaiti philanthropy activists for securing these housing units that could accommodate up to 1,500 persons.

He also praised rapid action by Kuwait, namely the

State, the Amir, the Government and the people for aiding the victims of the recent earthquake.

Al-Maatouq said the humanitarian project was executed in response to guidelines of HH the Amir Sheikh Sabah Al-Ahmad Al-Sabah, with support of the government.

The corner stone for the makeshift town was laid

by Al-Maatouq, accompanied by the Kuwaiti ambassador to Turkey Abdullah Al-Thuwaikh.

More than 1,000 people died in the earthquake that flattened buildings houses in the town and nearby towns and villages in southeastern Turkey. -KUNA

Recommendation to amend privatization law of KAC to Cabinet: Al-Othaina BEIRUT: Visiting Kuwaiti Minister of Communications Salem Al-Othaina disclosed on Wednesday final recommendation for amending privatization law of Kuwait Airways would be submitted to the Cabinet on Sunday.

This legislation stipulates transforming the KAC from a shareholding company into a private firm, affiliated with the Public Investment Authority. Employees’ privileges and rights will be secured ac-

cording to the privatization law, adopted by the National Assembly (Parliament) in 2008.

Meanwhile, the minister said in remarks to Kuwait News Agency (KUNA), on sidelines of the 35th general assembly of ARABSAT, the Arab Satellite Communications Organization, a special budget was adopted during today’s meeting for the project of transferring numbers of mobile telephones among the three major

telecommunication companies in Kuwait.

A special team of experts has been formed to examine technical aspects of the project, due to be fully executed in the coming eight months.

This process will enable a client to retain his (her) phone number while shifting subscription from one company to another - with the aim of facilitating development of services by the three top telecommunication operators. -KUNA

MP Al-Adsani: Insurance book losses reach KD 1.8 billion, Ministry of Finance overlooked investigations with official Staff Writer

KUWAIT: Member of Parliament (MP) Riyadh Al-Adsani asked the Minister of Finance Mostafa Al-Shamali to examine all registers in social insurance to protect the rights of retirees, and to find a solution to the book losses that reached 1 billion and 800 million Kuwaiti dinars in 2008. He wondered why the person responsible for such losses has not yet undergone investigations; especially that the losses are nine percent of Kuwait’s budget. He noted that several companies

were suspended from trading, and stressed that he will never approve compensating accumulative governmental losses with retirees’ money.

Moreover, he criticized the fact that general assemblies did not probe the issue, and asked Al-Shamali to intervene immediately to protect retirees’ money. He stated that all countries invest the money of retirees in hospitals and shopping malls, and said that it is not acceptable for the social insurance to speculate in the bourse and lose billions of Kuwaiti dinars without holding someone responsible.

Constitutional Court adjourns verdict on electoral contestations KUWAIT: The Constitutional Court, presided by Judge Faisal Al-Mershed, on Wednesday adjourned till the 20th of June all contestations that have been submitted against the 2012 National Assembly (Parliamentary) elections. A verdict is scheduled to be issued by the tribunal by June 20th. Meanwhile, any other complaints or memoranda can be filed within two weeks from now. Most of the petitions, during Wednesday’s session, were

A delegation of leading Kuwaiti philanthropists laid on Wednesday, April 18, 2012 the corner stone for planned pre-fabricated houses for residents of the southeastern Turkish town of Van. (KUNA)

The Head of International Union for Engineering Organizations Eng. Adel Al-Jarallah Al-Kharafi affirmed that fire that could have not happened if the government was serious to tackle the problem. He said that the incident revealed the government’s weakness in terms of facing different critical circumstances, indicating that the case amounts to national security crime.

He said that the relevant minister has to exert all possible efforts to unveil the circumstances of the case and the Parliament has also follow up on it and hold all negligent officials accountable.

He pointed out that the case proved that the government lacks initiatives and depends on reactions, although any serious government is expected to endorse solutions before the problem occurs. “The Kuwaiti government did not deal well with accumulating numbers of tires, despite the attention brought to it by the national media means in which they warned against a possible disaster at the dump site given that the tires have been in the area for years.”

He asked all citizens who were affected by the fire and smoke to sue the government through the just judiciary.

submitted by voters in the first, third and fourth constituencies, requesting that membership of some elected MPs be declared null, arguing that they lacked “good reputation,” in line with the court verdict No. 8 (2008) regarding electoral contestations.

The tribunal is due, at a follow-up session on Thursday, to look into other pleas, contesting some results of the polls in the first, second, third and fourth districts. -KUNA

Private sector has national responsibility to provide medication: Minister KUWAIT: The private sector has a national responsibility to import and provide medical commodities that are up to global standards and accessible for the masses, said Minister of Health Dr. Ali Al-Obeidi on Wednesday.

The Ministry said in a press release that the minister had met with representatives union of medication importers, discussing with them means to bolster cooperation

between the Ministry and the union.

The meeting also focused on implementing international standards and regulations on imported medication from abroad, said the ministerial statement, adding that the involved parties agreed on holding regular meetings to further coordinate efforts within the pharmaceutical domain.

-KUNA

ALWATAN DAILY

KUWAIT

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thursdAY, april 19, 2012

Amir graces awards ceremony of Quran Prize KUWAIT: His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah graced the awards ceremony of the third Kuwait International Prize for the Holy Quran at Bayan Palace.

The ceremony, sponsored by the Amir, was also attended by His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Sabah, Parliament Speaker Ahmad Abdelaziz Al-Saadoun, former National Assembly speaker Jassem Al-Kharafi, senior Sheikhs, Deputy Chief of the National Guard Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah, His Highness Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah, His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, and a host of senior state officials.

After the customary kickoff with a recitation of the Holy Quran, Minister of Justice and Minister of Awqaf and Islamic Affairs Jamal Ahmad Al-Shehab addressed the gathering, expressing gratitude for the Amir’s sponsorship of the competition and attendance in the award-giving ceremony.

“The patronage of His Highness the Amir to this competition shows his permanent interest and support for everything related to the Holy Quran,” AlShehab said.

“The nations and peoples’ life include days that are not matched. Perhaps the most beautiful days of Kuwait International Award for memorizing, reciting and tajweed the Holy Quran is the meeting the people of the Quran, the memorizers and the teachers of the

Quran individuals and institutions.

Also the meeting of blessed segment of the Muslim’s youth, who came to the state Kuwait from all over the countries of the Islamic world, and Islamic communities in non-Islamic countries.”

Al-Shehab described the competition among the 120 contestants, from 61 countries, as fierce as most participants they were almost neck-to-neck in the Quran memorization and recitation talents.

For his part, Head of the Judging Panel Othman Mohammad Al-Siddiqi extended warm thanks and gratitude to His Highness the Amir for sponsoring this competition.

He expressed appreciation for the warm reception with which both officials and the public received the scholars, judges, and participants in the competition.

Al-Siddiqi applauded the contestants’ impressive mastering of Quran diverse readings and recitation performance.

He pointed out that the award is made up of four branches: memorizing the whole Quran with Tajweed, memorizing the whole Quran with seven recitations, recitation only and the best technical project to serve the Holy Quran.

Following Al-Siddiqi speech, a documentary about the award was screened.

Then the Amir Sheikh Sabah presented awards to the winners and received a token to commemorate this event, upon which he left the venue. -KUNA

Kuwaiti diplomat stresses keenness on boosting cultural interaction with Cuba CUBA: Kuwaiti Ambassador to Cuba Bader Al-Awadhi stressed keenness on bolstering cooperation and interaction with Cuba in the areas of tourism and culture, and met with director of the “Arabian House” museum in Old Havana Professor Rigoberto Menendez, Tuesday evening.

The Ambassador presented the rector with an authentic miniature Kuwaiti dhow, a Boom, which he stressed reflected the country’s cultural and trade history. He expressed a desire for more cooperation with the historical office and said the gracious reception of Kuwaiti visitors of Arabian House reflects the friendly relations between the two peoples. He also expressed Kuwait’s readiness to engage in cultural and investment projects in Havana.

Professor Menendez for his part presented the ambassador with a book he authored in 2007 on Arabs in Havana, which had won several awards in Cuba and had been translated into Arabic in 2010.

The Arabian House is a main tourist attraction which reflects all aspects of the influences of Arab culture and Arabs’ presence on Cuba and Havana in particular and in Latin America in general. It is supervised by the city’s historical office, chaired by Professor Eusebio Leal.The house displays an array of Islamic artifact, and the State of Kuwait had previously contributed several pieces to the exhibition. Professor Menendez invited the Kuwaiti ambassador to attend a series of lectures the Arabian House is organizing on Middle East history. -KUNA

MP Shakheer says to fight for writing off citizens’ debts

Mubarak Al-Shemmari Staff Writer

KUWAIT: MP Dr. Khaled Shakheer AlMutairi said in a statement on Wednesday that those who attempt to discuss writing off the loans are usually accused of being opportunists whom seek to only gain politically from their supporters of the issue.

Speaking during a forum held and organized under the title ‘Loans Must be Priority’, in the Popular Bloc diwaniya in the Fifth Constituency on Tuesday evening, the MP said that the government has become extremely sensitive about the issue of writing off debts.

He demanded that the government adopts a different approach and rather look after the citizens while providing them a good standard of living.

Municipality bust 230 kilograms of spoiled fish

Municipal Council team at Souq Sharq’s fish market with busted 230 kilograms of spoiled fish on Wednesday, April 18, 2012. (KUNA)

KUWAIT: The Municipal Council team in the capital district busted on Wednesday 230 kilograms of spoiled fish at the Souq Sharq’s fish market.

Head of the team Faleh Al-Shimmari told Kuwait News Agency (KUNA) that the campaigns would continue to prevent spoiled products from reaching cus-

tomers, adding regular inspections of fish-stands in the market were conducted to make sure people get fresh fish.

The spoiled fish was disposed of and those responsible for selling were referred to the authorities for questioning, said the official. -KUNA

Important to pump new blood into high administrative positions in media: Minister

Information Minister Sheikh Mohammad Al-Abdullah Al-Mubarak Al-Sabah (center) with Kuwait News Agency (KUNA) workers’ syndicate board members on Wednesday, April 18, 2012. (KUNA)

Former National Assembly speaker Jassem Al-Kharafi (right) presenting an award for a visually impaired citizen for his ability to memorize, reciting and tajweed the Holy Quran during a ceremony held on Wednesday, April 18, 2012.

(Al Watan)

KUWAIT: It is important to pump new blood into high administrative positions in order to elevate the various media bodies’ performance, Information Minister Sheikh Mohammad Al-Abdullah Al-Mubarak Al-Sabah stressed on Wednesday. The minister made this remark during a meeting with Kuwait News Agency (KUNA) workers’ syndicate board members.

The meeting discussed various issues concerning the agency’s work conditions and staff affairs.

Syndicate Chairman Ayman Al-Ali said, in press remarks, that Sheikh Mohammad showed keenness on bringing in new blood to all bodies of state media, and believes this is essential for the enhancement of the performance of these bodies, especially where KUNA is concerned. The meeting also tackled roadblocks that hinder development of performance at KUNA, as well as means to overcome these obstacles “to better serve the homeland,” Al-Ali noted.

The minister promised to consider possible solutions for the problems discussed, Al-Ali said. -KUNA

“Had the government forced the Central Bank of Kuwait not to grant loans more than 40 percent of employees’ salary, the issue would not have reached such critical stage for some. I am even amazed at the semantics used for funding international projects for the benefit of other countries, which goes by the name of Gracious Life, and yet the fund used to assist and help Kuwaiti citizens is called Defaulters Fund,” he explained.

The MP added that oil is the main source for the country “is an often repeated phrase we hear in Kuwait and yet the second source which is foreign investment is usually unheard of.”

The MP was critical of the way the foreign investment is conducted, where he cited an example of Jawahir Shopping Mall in Turkey which had the market value of 800 million US

dollars was bought by the Public Authority for Investment for three billion US dollars.

As for the reason why the majority of MPs approved to postpone taking any final decision regarding the issue of writing off the loans, the MP said that the lawmakers wanted to carefully check if the issue is compatible with Sharia or otherwise.

In response to a comment made that no other country would write off the citizens’ debts, MP Shakheer said that what happens in different parts of the world is no concern of him and that he only cares about what is happening here in Kuwait. He added that the state gives away many grants and donations to other countries in large amounts and yet can’t assist its own people, adding at the same time that even if all MPs decided not to support the issue, he alone would fight for it.

Maltese FM, Kuwaiti ambassador discuss bolstering relations MALTA: Kuwaiti Ambassador to Malta Faisal Al-Msaileem told Kuwait News Agency (KUNA), Wednesday, that he had met with the Deputy Premier and Foreign Minister of Malta Tonio Borg at his office at the Foreign Ministry, and that this was part of his efforts to increase communication and interaction with officials and institutions in Malta to bolster bilateral relations.

The diplomat remarked that the discussion touched on means to boost cooperation and bolster relations in all fields.

The Maltese official expressed like eagerness in this regard, he said.

The Ambassador also relayed the greetings of the Deputy Prime Minister and Foreign Minister and Minister of State for Cabinet Affair Sheikh Sabah Al-Khalid Al-Hamad Al-Sabah, and was charged to convey the like greetings of the Maltese official and his wishes Kuwait continues to enjoy stability and prosperity. -KUNA

Kuwaiti Ambassador to Malta Faisal Al-Msaileem (left) and Deputy Premier and Foreign Minister of Malta Tonio Borg (right) after a discussion held between the two on Wednesday, April 18, 2012. (KUNA)

Adel Al-Roumi: 2012 to witness major developmental projects Mervat Abdul Dayem Staff Writer

KUWAIT: Head of Technical Apparatus for Developmental Projects and Initiatives Adel Al-Roumi asserted that 2012 will witness major developmental projects, such as the Natural Medicine Hospital that was discussed with a group of global and local investors. He added that this hospital will be followed by other governmental projects if it succeeds, and stated that all the details of the project have been discussed transparently; espe-

cially regarding the qualification of companies that are not listed in the bourse. He said that global and local investors have equal opportunities, and that the project includes the designing and construction of the Natural Medicine Hospital. The project will occupy 217,000 square meters and the building will occupy 140,000 square meters.

He went on to say that the government is not only interested in constructing and managing buildings, but also in the level of services offered. He asked the investors to provide all the require-

A panel of doctors and investors are seen during their conference held on Tuesday, April 17, 2012. (Al Watan)

ments of future governmental projects for the coming 25-30 years, which allows the private sector to contribute to the gross domestic product (GDP).

Moreover, Al-Roumi underlined the importance of the role played by the private sector in governmental projects, and mentioned that investors are very interested in PPP projects. He mentioned that all the projects handled by the apparatus were shouldered by companies enlisted in the bourse, and added that there are also alliances with international companies.

He explained that this type of projects will cement direct foreign investments in Kuwait, and denied facing any obstacles regarding the Al-Zour Station, Umm AlHeiman, or labor cities. He stressed that the government is keen to execute its developmental project and to allow the private sector to play a role in executing its plans; especially since this will boost the economy.

Concerning the Natural Medicine Hospital, he revealed that it has the capacity of 500 beds and will be constructed based on a partnership with the private sector for the coming 25 years. The private sector will design, construct, and operate the hospital administratively, except for clinics. He went on to say that the private sector will be responsible for the design, construction, equipment, furniture, operations, maintenance, labs, and diagnostic services. The public sector will be in charge of clinics and medical staff.

4

ALWATAN DAILY

regional

Farewell General

By Hossam Fathi Staff Writer

KUWAIT: Steve Gray wrote about Egypt’s human rights record in his book by saying that in public, Egypt’s record was criticized every year by the Congress and the Ministry of Foreign Affairs in the United States for violating human rights and silencing opposition. However, behind closed doors, such brutality served the interests of the United States and the west, since they are not willing to get their hands dirty with such brutal tactics on their lands.

The author added that Egyptian intelligence strongman Omar Sulaiman is an enemy if Islamists, whether in Egypt or overseas. A WikiLeaks document shows that Sulaiman promised an Israeli media personality that he would ban the legislative elections of the Palestinian Authority in 2006, in order to prevent Hamas from winning in the elections. Sulaiman failed, and Hamas ascended to power.

Once Sulaiman announced that he will run for president, Israeli officials rushed to say that such a step is in favor of Israel, which significantly hampered Sulaiman’s chances of winning in the presidential elections. Israeli officials went on to say that Sulaiman and Israel’s Netanyahu are ‘close friends’, which ended Sulaiman’s dreams of becoming the president, since Egyptians hold nothing but contempt for Netanyahu and his government. hossam@alwatan.com.kw Twitter:@hossamfathy66

NEWS IN BRIEF Yemen airstrike kills six Qaeda-linked fighters: government ADEN: Yemeni warplanes killed at least six militants linked to al Qaeda on Wednesday, the government said as it pressed ahead with an offensive against insurgents in the south. Yemen has been struggling to control Islamist fighters in the territory who have taken advantage of the chaos surrounding more than a year of mass protests and fighting that unseated former president Ali Abdullah Saleh. The country’s defense ministry said it launched an airstrike on a group of militants near the southern city of Lawdar, killing six of them. -Reuters

Saudi activist sentenced to 4 years: Amnesty RIYADH: Amnesty International says a Saudi Arabian court has convicted a prominent rights activist of anti-state crimes and sentenced him to four years in prison. The London-based group says activist Mohammed Al-Bajady was tried in secret.

He was detained a year ago and is believed to have been on a hunger strike for a month. Amnesty said in a statement Tuesday that it has “credible information” that a Specialized Criminal Court in Riyadh found Al-Bajady guilty of several offenses, including participating in the establishment of a human rights organization and harming the image of Saudi Arabia in media articles. -AP

Tunisians kidnapped by armed Libyan group released TUNIS: Some 100 Tunisian workers kidnapped by armed men in western Libya have been released, Tunisia said Wednesday after a diplomatic row in which Tripoli denied any abductions had occurred. “The Tunisians kidnapped in Libya have been freed,” Tunisia’s interior ministry said in a statement. The statement claimed the workers’ seizure had been in retaliation for the arrest of Libyan nationals in Tunisia, and said Tunis had released three Libyans arrested on April 14 near the north African countries’ border. Tunisia’s interior ministry said the freed Libyans had already returned home, and that Tunis was working with authorities in Libya to assure the Tunisians’ safe return. -AFP

ICC prosecutor in Libya over case of Seif Al-Islam TRIPOLI: The International Criminal Court’s chief prosecutor has arrived in the Libyan capital to follow up on the case of Muammar Gadhafi’s captured son Seif Al-Islam. The Hague-based court is locked in a legal tug-of-war with Libya’s ruling National Transitional Council over who should try Seif Al-Islam, who was captured last year following the ouster and death of his father. Luis Moreno-Ocampo told The Associated Press at Tripoli’s airport on Wednesday he would also travel to the coastal city of Misrata to investigate allegations of abuse in detention facilities run by militiamen who fought Gadhafi’s forces. “There’s torture, extrajudicial executions, rape of both men and women,” UN High Commissioner for Human Rights Navi Pillay said in January. -AP

thursDAY, april 19, 2012

Al-Assads attempt to salvage image amid fresh bloodshed DAMASCUS: Syrian forces shelled rebel areas anew on Wednesday, six days into a UN-backed ceasefire, sparking new pressure for unfettered nationwide access for an observer mission intended to oversee it.

UN chief Ban Ki-moon, who was due to report to the Security Council later on Wednesday on the progress of talks between an observer advance team and Syrian officials, urged Damascus to give the mission free access across the country. But a progovernment newspaper reported that a protocol governing the mission’s operations might still be days away. The seven-member advance team arrived in Damascus on Sunday to prepare for the observer mission agreed with international envoy Kofi Annan as part of his blueprint for ending 13 months of bloodshed.

Two vehicles carrying the monitors sped away from a large crowd of Syrian anti-regime protesters Wednesday when what sounded like a gunshot rang out in a Damascus suburb they were touring, according to amateur video posted online.

A UN official confirmed the monitors toured the Arbeen suburb of the capital, but said he did not know whether shots were fired while they were there. Opposition activists said security forces at one point opened fire in Arbeen to disperse thousands of demonstrators, wounding eight.

Observer reinforcements

Annan wants the mission’s numbers to swell to more than 250, but the UN Security Council resolution adopted last Saturday approves only the initial 30. Security Council diplomats have said reinforcement would depend on compliance with the ceasefire that went into force last Thursday.

Washington warned that Annan’s hopes of a larger mission were being jeopardized by the persistent violence, which saw at least 20 people killed on Tuesday, 17 of them civilians, according to monitors. On Wednesday, regime forces launched a fresh bombardment of rebel neighborhoods of the flashpoint central city of Homs, the Syrian Observatory for Human Rights said.

A civilian was killed as troops carried out search operations in Idlib, a province in the northwest close to the border with Turkey where fighters of the rebel Free Syrian Army have been active, the London-based watchdog added.

“The violence is escalating. It will be very difficult for the council to send unarmed observers into a hot war,” US ambassador Susan Rice told CNN television in a new sign of Western doubts about Assad’s intentions.

She said Annan’s peace plan was “in jeopardy” because AlAssad’s government was not keeping to its side of the bargain.

Rice would not comment on the observers’ talks with the Syrian government, but another senior UN diplomat said that if Damascus did not complete the protocol by the end of the week then the Security Council could not allow the full mission of 200-250 observers envisaged by Annan.

Following recommendations by the former UN chief, the Security Council resolution which sent the advance party said there had to be “full, unimpeded, and immediate freedom of movement and access” for monitors.

“I think there is a risk that the Syrians will not agree to all of

An image grab taken off official Syrian TV on April 18, 2012, shows President Bashar Al-Assad (center) and his wife Asma joining volunteers as they pack boxes at a food distribution center set up at the Al-Fahya stadium in Damascus for victims of fighting in the central restive city Homs, where the president’s forces are crushing an uprising. (AFP)

that and we will have to decide what to do,” said the diplomat.

“There is a holdup and it looks like the Syrians are doing it deliberately,” a second diplomat told AFP. Russia blames rebels

Damascus ally Moscow pointed the finger at the rebels accusing them of trying to provoke violence in a bid to torpedo Annan’s plan and pave the way for foreign military intervention.

“There are plenty of those who would like to see Annan’s plan fail in hopes of then demanding other options - primarily meaning the use of (outside) force,” Foreign Minister Sergei Lavrov told reporters. Russia and China courted Western and Arab anger by vetoing two UN Security Council resolutions that would have blamed the Assad regime for the violence but have backed Annan’ peace efforts and s voted in favor of Saturday’s text that approved the observer mission.

Syrian Foreign Minister Walid Mouallem was in Beijing on Wednesday for talks with his counterpart Yang Jiechi.

“Mouallem... said Syria would continue to... respect and implement Annan’s six-point proposal,” the Chinese foreign ministry said.

Yang told Mouallem he hoped Syria would cooperate with

Egypt confirms 10 barred from presidential vote CAIRO: Egypt’s first post-Arab Spring presidential election is thrown wide open after the electoral commission confirmed that 10 candidates have been barred, rejecting challenges by two Islamists and the old regime’s spy chief. The commission had held a day-long meeting Tuesday to hear appeals from disqualified candidates, including former intelligence chief Omar Suleiman, the Muslim Brotherhood’s Khairat Al-Shater and popular Salafist politician Hazem Abu Ismail. Among the candidates still able to run in the election, scheduled for May 23 and 24, are former Arab League chief Amr Mussa and Abdelmoneim Abul Fotouh, a one-time member of the powerful Brotherhood.

“It’s a very important decision because it eliminates the most controversial candidates,” said Mustafa Kamel Al-Sayyed, professor of political science at Cairo University. It is expected that those who would have voted for Suleiman would support Mussa, and Islamists may back Abul Fotouh.

But with the only Salafist candidate out of the race, “there is fear of reactions from the Abu Ismail supporters, who are not very disciplined,” said Sayyed. Abu Ismail supporters spent the night in protest outside the electoral commission. The commission said Saturday it had rejected the candidacy of the 10 due to irregularities in their applications.

Although expected in some quarters, the news of the decision threw the presidential campaign into turmoil as the fate of a new constitution remains hang-

ing in limbo. The Muslim Brotherhood had anticipated the decision by putting up Mohammed Morsi, chairman of the movement’s Freedom and Justice Party (FJP), as an “alternative” candidate and whose application has been approved. Al-Shater, who was in jail last year on charges of terrorism and money laundering, was barred because of a law stating candidates can only run in elections six years after being released or pardoned.

The Brotherhood’s Twitter feed quoted Al-Shater as saying “my exclusion from the presidential race despite sound legal case is a proof Mubarak is still in power. We shall continue in our peaceful struggle to complete our unfinished revolution.”

Later addressing hundreds of partisans in Cairo, Shater - a wealthy businessman - called on Egyptians to “protect the revolution,” warning that plans for electoral fraud and vote-buying were under way. He promised “to topple the remains of the Mubarak regime.” Suleiman was disqualified because he failed to garner enough endorsements from all 15 provinces as required under the law.

Abu Ismail is out of the race because his mother holds foreign nationality, violating election rules which state that all candidates, their parents and their wives must have only Egyptian citizenship.

The latest developments in the presidential campaign further complicate the transition to democracy after the ouster last year of former president Mubarak. -AFP

Sudan, South Sudan clash on new front as UN mulls sanctions

SPLA (South Sudan People’s Liberation Army) vehicles drive on the road from Bentiu to Heglig, on April 17, 2012. (AFP)

KHARTOUM: Sudan and South Sudan accused each other on Wednesday of launching attacks on a new front near their contested border, stoking fears of a return to all-out war in the oil-producing region. South Sudan’s army said a total of 22 soldiers died in the fighting. The reports of the fresh fighting south of the Sudanese town of Mairem late on Tuesday came as the UN Security Council discussed imposing sanctions on the African neighbors if they did not stop the escalating border clashes.

There has been growing alarm over the worst violence seen since South Sudan split away from Sudan as an independent country in July under the terms of a 2005 peace settlement. Global powers have urged the two sides to end the fighting. South Sudan seized the contested oil-producing Heglig region last week, prompting Sudan’s parliament to brand its former civil war foe an “enemy” on Monday and to call for a swift recapture of the flat savanna region. A Russian foreign ministry statement cited reports that fighting had killed “several hundred” people in the past three days. It did not give the source of its information.

“We consider it necessary to implement without hesitation the points of the UN Security Council chairman’s statement of April 12 and, in the first place, to withdraw all South Sudanese military units from the Heglig region without delay,” the foreign ministry said. In Khartoum, Sudanese foreign ministry official Omer Mohamed told reporters Sudan would continue to press diplomatic as well as military efforts to recover Heglig. “We have to end the occupation by hook or crook, by either way,” he said.

The 15-nation Security Council on Tuesday reiterated its call for Sudan to stop air strikes and South Sudan to withdraw from Heglig.

Rice, who is the Security Council president for April, gave no further details on possible sanctions that could be imposed.

Sudan said sanctions should only be directed against South Sudan, who it accuses of violating its sovereignty. -Reuters

Annan’s mediation work, as well as the UN observer mission, the ministry said.

Damascus critic Ankara meanwhile intercepted a Bermudaflagged vessel in the Mediterranean suspected of carrying arms and ammunition to Syria, a diplomatic source told AFP. “We received information that the vessel has a cargo of arms and ammunition headed for Syria,” the source said on condition of anonymity, adding that Turkish authorities would search the vessel later in the day.

Damage control

Meanwhile, President Bashar Al-Assad and his wife Asma were shown on Syrian state TV packing food aid, an apparent effort to burnish the image of a first couple derided for ordering luxury goods on the Internet while their country burns.

They joined hundreds of volunteers boxing cartons full of flour, sugar, cooking oil and pasta for victims of fighting in Homs, where the president’s forces are crushing an uprising.

Those images are now part of a YouTube campaign led by the wives of UN ambassadors from Britain and Germany, which alternates stylish shots of Asma with gruesome pictures of dead and injured Syrian children. -Agencies

Saudi might soon set minimum marriage age: Official

JEDDAH: Saudi Arabia is edging closer to setting a minimum age for marriage, a Justice Ministry official was quoted as saying on Wednesday, following international criticism of cases of child brides. “The ministry has adopted a clear stance on under-age marriages and the issue was raised to the regulators,” Mohammed Al-Babetein, head of the Justice Ministry’s marriages department, was quoted as saying in a local daily newspaper. “It supports setting unified regulations to deal with such practices, which will ensure the safety of young girls,” he said. Al-Babetein said the ministry was still in discussions over what age the limit should be set at, the paper reported.

Last May the consultative Shoura Council, which advises the government on new laws, was reported in the local press as recommending the introduction of a minimum marriage age but there have been no concrete reports of further progress. Human rights organization Amnesty International said the Saudi government had been saying for several years that it planned to introduce a minimum age for marriage. “But until we see actual legislation and how it’s implemented, rather than merely fine words, we will continue to have serious concerns about lack of protection for girls from early and forced marriage,” said James Lynch, Amnesty’s Middle East spokesman. Cases of child marriage, including brides as young as eight-years-old, have made headlines in local and international media in recent years, drawing heavy criticism against the conservative US ally. In 2010, the Saudi Human Rights Commission, a government-affiliated group, hired a lawyer to help a 12-year-old divorce her 80-year-old husband. Activists at the time saw the divorce proceedings as a test case that could pave the way for introducing a minimum age for marriage.

In 2009 the Justice Minister said that there were plans to regulate the marriages of young girls after a court refused to nullify the marriage of an eightyear-old girl to a man 50 years her senior. Saudi Arabia is a signatory of the United Nations Convention on the Rights of a Child, which considers those under the age of 18 as children. -Reuters

Iran slams Gulf Arab ‘interference’ over disputed islands

DUBAI: Iran accused its Gulf Arab neighbors on Wednesday of interfering in its internal affairs after they described a visit by President Mahmoud Ahmadinejad to a tiny island - claimed by Iran and the United Arab Emirates - as a “provocative act”. After holding an extraordinary meeting to discuss the issue, foreign ministers of the Gulf Cooperation Council urged Iran to end its occupation of the islands of Abu Musa, Greater Tunb and Lesser Tunb which lie near key shipping lanes in the Strait of Hormuz at the mouth of the Gulf.

Iran took control of the islands in 1971, shortly before the Gulf Emirates gained full independence from Britain and formed the UAE. The islands are valued for their strategic position in the Strait and for their potential oil reserves. “The Iranian ownership of these islands is a fixed matter. It is static and non-negotiable,” Iranian Foreign Ministry spokesman, Rahim Mehmanparast said in a statement. He described the GCC declaration as clear interference in Iran’s internal affairs, adding that the president’s visit to Abu Musa was related to Iran’s territorial sovereignty.

“The era of un-constructive proclamations from the Gulf Cooperation Council regarding Iran’s three islands has ended,” he added.

More than 200 members of Iran’s parliament described Ahmadinejad’s visit to Abu Musa as a routine internal issue and said the claims by the UAE would “never have historical significance”, Fars news agency reported.

The GCC also repeated the UAE’s demand that Iran resolve the dispute through the International Court of Justice in The Hague or hold direct negotiations. But Iranian media reported on Tuesday that the cabinet had discussed plans for the islands to be developed as tourist destinations, proposals which are sure to further agitate the United Arab Emirates. -Reuters

ALWATAN DAILY

WORLD

THURsdAY, april 19, 2012

Embattled Sarkozy loses steam ahead of Sunday’s vote PARIS: Nicolas Sarkozy’s campaign appeared to lose steam Wednesday, four days ahead of the first round of France’s presidential election that pollsters increasingly say he will lose to his Socialist rival.

Abandoned by some allies and rounded on by some traditionally pro-government media, a visibly tired but still campaigning Sarkozy said on Wednesday “we’re three days away from the first round, let’s wait peacefully.”

He dismissed a CSA opinion poll ahead of Sunday’s first round vote that said Socialist Party candidate Francois Hollande would score a thumping first-round victory over the UMP party’s incumbent with 29 percent to 24 percent. “It contradicts all the others, because they say I’ll win. We have three days to wait, let’s wait peacefully,” Sarkozy told BFM-TV of the poll that also predicted a spectacular 58-42 percent second-round victory for Hollande. French media noted Sarkozy’s fatalism, with the leftleaning Liberation daily saying he was “overplaying his serenity” by visiting a sea rescue naval yard while “the morale of his troops has been taking on water for days.” “The theme is sea rescue,” noted a journalist during Tuesday’s visit in northwestern region Brittany, a traditional Socialist bastion. “Does a candidate need saving?” Sarkozy drily remarked on the wit of the naval-themed question - saying “Exceptional. Such talent” - but refused to answer.

Even the pro-government Le Figaro daily described Sarkozy as “detached and relaxed” during his Brittany trip, with the right-winger

Senegal’s new President Macky Sall (R) is welcomed by French President Nicolas Sarkozy as he arrives at the Elysee palace to attend a working lunch on April 18, in Paris. (AFP)

to attend another rally in northern Socialist bastion Arras later Wednesday.

Le Figaro put the his losses in opinion polls down to an “apparent hesitation” between more right-wing or centrist strategies that had benefited centrist candidate Francois Bayrou and the far-right’s Marine Le Pen. In an unusual departure from its editorial

Czech PM warns of snap polls as coalition partner splits

Czech Prime Minister Petr Necas speaks during a news conference at the government headquarters in Prague April 18. (AFP)

PRAGUE: The Czech Republic’s prime minister warned Wednesday of possible snap elections in June, after the centre-right coalition government’s junior partner split into two factions.

“The cabinet can go on only if it makes good on its policy statement, that is, if it has a safe majority,” Prime Minister Petr Necas said Wednesday, a day after the Public Affairs party split. “If I don’t have clear information saying the government has a clear majority by next Monday, the obvious outcome is a snap election,” he told reporters, adding June was a most likely date for the vote.

The three-party coalition government comprised of Necas’ right-wing Civic Democrats, rightist TOP 09 and centrist Public Affairs parties had 118 seats in the 200-seat parliament when it took office in mid-2010.

But scandals including graft have gradually cut the number of Public Affairs lawmakers from the original 24, and vicepremier Karolina Peake’s decision to lead the rebellion and leave her party on Tuesday dealt it another blow.

Necas was due to meet Peake later on Wednesday for talks on the number of Public Affairs lawmakers, regular or renegade, who still back the cabinet. Peake broke ranks with her party after a court

verdict which last Friday handed Public Affairs lawmaker Vit Barta - a wealthy entrepreneur seen as pulling the party’s strings - a suspended 18-month prison sentence with probation for bribing his fellow party members.

She also slammed her party’s rushed call for a cabinet reshuffle earlier this month, dubbed by local media as an “overdone blackmail,” which led Necas to mention early elections for the first time.

Snap elections would hit the Public Affairs hard as surveys show the party’s support has shrunk to just above one percent, well below the five percent threshold needed to enter parliament.

Just last week, the cabinet agreed on further austerity cuts, part of a policy revamp designed to keep the coalition from falling apart.

Austerity cuts and reforms combined with the graft scandals have angered voters and provoked anti-government rallies, including a massive protest in central Prague scheduled for April 21.

The Czech Republic, a country of 10.5 million, joined the EU in 2004 and is obliged to join the euro under its entry terms, but it has repeatedly said this would not happen in the near future, given the eurozone debt crisis. -AFP

line, Le Figaro said Sarkozy kept repeating that “there will be surprises” in the vote “like a mantra” and that in Brittany, his “heart wasn’t really in it.” Opinion polls in March put security-conscious Sarkozy briefly ahead of Hollande after Mohamed Merah’s Al-Qaeda-inspired killing spree in and around southern city Toulouse, but since then Hollande has pulled back

in front.

An aide to Sarkozy told Liberation: “We absolutely have to come out ahead in the first round, or it’’s going to be impossible.” The latest poll from BVA, published Wednesday, said Hollande would beat Sarkozy in the first round on Sunday 29.5 percent to 27.5 and again in the May 6 second round 56 percent to 44 percent, a wide margin of victory.

The poll also said far-right candidate Le Pen would win 14 percent of votes, the Left Front’s Jean-Luc Melenchon 13 percent and centrist candidate Bayrou 12 percent.

Such a result would make this the first French presidential election in which five candidates win over 10 percent of votes in the first round, an expression of voter dissatisfaction with the Socialist-UMP binary. “This shows both the big difficulty in breaking the two-party system and that a lot of people aren’t happy with this two-party system and that they want other options,” said Bruno Jeanbart of polling company OpinionWay. Several former Sarkozy allies on Tuesday said they would vote for Hollande, including former junior minister for urban planning, Fadela Amara, Sarkozy’s former high commissioner for youth Martin Hirsch and Brigitte Girardin, a former minister under president Jacques Chirac.

Nevertheless, UMP senator and former minister Chantal Jouanno tweeted that she would vote for Sarkozy despite “personal reasons to be against him”. “I will vote for him because he is the only one to dare... confront France’s problems,” she said. -AFP

China summons Manila envoy over standoff BEIJING: China summoned a diplomat from the Philippines for a second time on Wednesday to protest Manila’s claim over an area of the South China Sea, a foreign ministry spokesman said, as the standoff between the two countries showed no sign of ending. The most recent dispute is well into its second week, with a Philippine coast guard ship and two Chinese maritime surveillance vessels faced off near the Scarborough Shoal in waters believed to be rich in oil and gas. Vice Foreign Minister Fu Ying “urgently summoned” the Philippines Charge’ d’affaires, Alex Chua, on Sunday and again on Wednesday, Foreign Ministry spokesman Liu Weimin told reporters. -Reuters

Corrupt Nigerian governor gets 13-year UK jail term LONDON: A British court sentenced the former governor of a Nigerian oil state to 13 years in prison on Tuesday after he pleaded guilty to embezzling 50 million pounds in one of the biggest money-laundering cases seen in Britain. A founding member and key power-broker of Nigeria’s ruling party, James Ibori is the most prominent Nigerian politician to be successfully prosecuted for the corruption that has held back Africa’s most populous nation and top oil producer for decades.

He pleaded guilty to 10 charges of fraud and money-laundering committed during his eight years as governor of Delta State, an impoverished maze of mangrove creeks and pipelines ravaged by years of armed conflict over access to oil money. -Reuters

Phone-hacking referred suspects to prosecutors LONDON: British police probing phone hacking at Rupert Murdoch’s newspapers have given prosecutors files on 11 suspects after an investigation lasting more than a year, the chief prosecutor said Wednesday. Four journalists, one police officer and six other people feature in the files that are now being considered by the Crown Prosecution Service for possible charges, director of public prosecutions Keir Starmer said. “We are now entering a period where we are likely to make a decision one way or another” on whether to charge the suspects, said Starmer. The offences include misconduct in a public office, breaching Britain’s data protection act, perverting the course of justice, witness intimidation and breaches of an act regulating investigatory power. -AFP

Angry North Korea threatens retaliation

New Malawi President Joyce Banda attends a protest against abuse of women, in Blantyre, Malawi. On April 7. Banda was sworn in as the country’s new President, to replace the late president Bingu wa Mutharika who died of a heart attack, April 5. (AP)

SEOUL: A bristling North Korea said on Wednesday it was ready to retaliate in the face of international condemnation over its failed rocket launch, increasing the likelihood the hermit state will push ahead with a third nuclear test. The North also ditched an agreement to allow back inspectors from the International Atomic Energy Agency. That followed a US decision, in response to a rocket launch the United States says was a disguised longrange missile test, to break off a deal earlier this year to provide the impoverished state with food aid. Pyongyang called the US move a hostile act and said it was no longer bound to stick to its side of the Feb. 29 agreement, dashing any hopes that new leader Kim Jong-un would soften a foreign policy that has for years been based on the threat of an atomic arsenal to leverage concessions out of regional powers. -Reuters

US warns Boko Haram may be planning attacks in Abuja ABUJA: The US embassy in Nigeria warned on Wednesday that Islamist group Boko Haram may be planning attacks in the capital Abuja, including against hotels frequented by Westerners.

“The US embassy has received information that Boko Haram may be planning attacks in Abuja, Nigeria, including against hotels frequently visited by Westerners,” an emergency message to US citizens on its website said.

“The US government has no additional information regarding the timing of these possible attacks. The Nigerian government is aware of the threat and is actively implementing security measures.”

It gave no further information on the threats.

The US issued a similar message in November that drew harsh criticism in Nigeria. No attacks occurred in Abuja in the wake of the November warning.

Suu Kyi to visit Norway, Britain after 24 years in Myanmar

Myanmar’s pro-democracy leader Aung San Suu Kyi (in yellow) shakes hands with supporters at a ceremony to mark Myanmar’s New Year Day in her constituency of Kawhmu township, April 17. (Reuters)

NEWS IN BRIEF

New Malawi leader agrees to host African Union summit

LILONGWE: Malawi’s new leader Joyce Banda, who opposed playing host to the African Union summit as her impoverished country could not afford it, has now agreed to do so, authorities said Wednesday.

“The government is glad to announce that President Joyce Banda has approved plans to host the African Union summit after thoroughly consulting some heads of state and governments who have pledged financial and material support towards the summit,” the Ministry of Information said in a statement.

The idea to host the summit was mooted by late President Bingu wa Mutharika, a former AU chairman, who died on April 5 from a heart attack.

Banda, then vice president, had led criticisms against Mutharika over the decision.

The southern African state has just half of the 4,000 beds needed to host such a large summit.

“Prevailing economic situation” had forced Banda to oppose the move then, said the ministry.

But the government now believes that Malawi, which faces chronic shortages of foreign exchange and fuel, can “benefit from hosting the summit”.

Banda was sworn in as Africa’s only second woman leader in modern times on April 7. -AP

5

YANGON: Nobel Peace Prize laureate and newly elected lawmaker Aung San Suu Kyi will travel outside Myanmar for the first time in 24 years after accepting invitations to visit Norway and Britain in June, her party said on Wednesday. Her travel caps months of dramatic change in Myanmar, including a historic by-election on April 1 that won her a seat in a year-old parliament that replaced nearly five decades of oppressive military rule.

Her trip will include a visit to British city Oxford, where she attended university in the 1970s, said National League for Democracy (NLD) party spokesman Nyan Win. “But I don’t know the exact date yet,” Nyan Win said, adding he did not know which country she would visit first. She has previously indicated that it would be Norway.Suu Kyi, 66, was first detained in 1989, and spent 15 of the next 21 years in detention until her release from house arrest in November 2010, refused to leave the country during the brief periods when she was not held by authorities, for fear of not being allowed to return.

She won one of her party’s 43 seats in this month’s by-election following a series of reforms un-

der President Thein Sein, a former general, including the release of political prisoners, more media freedom, dialogue with ethnic militias and an exchange rate unification seen crucial to fixing the economy.

Suu Kyi was invited to visit Britain when she met Prime Minister David Cameron in Yangon on Friday.

At the time, she said the fact that she would consider the offer, rather than reject it outright, showed “great progress” had been achieved in Myanmar.

“Two years ago I would have said thank you for the invitation, but sorry,” she added.

Suu Kyi’s long refusal to leave Myanmar characterized her steely determination to defy the ruling junta, which offered to release her from house arrest to be with her late husband, Michael Aris, who died of cancer in Britain in 1999.

Their story was played out on the big screen late last year in the film “The Lady”, as she is affectionately known, with Malaysian action star Michelle Yeoh playing Suu Kyi. The daughter of assassinated independence hero Aung San visited Myanmar in April 1988 to take care of her dying mother, Khin Kyi, a former ambassador to India and Nepal. -Reuters

A US diplomat at the time however said the warning was based on specific and credible information, adding that the embassy had no choice but to warn American citizens.

Boko Haram has carried out scores of attacks, mainly in northern Nigeria, that have killed more than 1,000 people since mid-2009.

It claimed responsibility for the August suicide bombing of UN headquarters in Abuja which claimed at least 25 lives. -AFP

6

ALWATAN DAILY

OPINION

thursDAY, april 19, 2012

The philosophy of one for the river and one for the head Fuad Al-Hashem

I

will relate to you a story I used to hear when I was young but has a significant purpose to our topic today. The story says that there was a tradesman whose business was to sell yogurt. The man was a dishonest businessman and in the habit of conning people with his product. In order to increase the yogurt, and obviously gain more and quick profits, the man used to mix his yogurt with water.

One day he decided that he should stop his trade as he has become rich and thus the business didn’t suit his new prestige. So, he decided to pack up and move to another area where he would possibly start a new business convenient for him in a new area.

As he was walking to his new destination, he saw a tree standing nearby a river and therefore decided to rest there after a long journey. Tired and exhausted, the man fell into a deep sleep. Unbeknown to him, the man was being watched all the while by a monkey who was curious by the stranger’s presence.

As the man began to snore, the monkey decided it was time for him to attack. The monkey searched the man and found a big wallet full of golden coins. With its glitter and sound, the monkey became bemused by the wallet and decided to take it with him. The monkey didn’t know what to do with the coins since they are inedible. But soon an idea occurred to him. The monkey decided to throw the coins.

One coin he would throw in the nearby river and the other on the man’s head.

The great tires fire

The problem here is not the demand he is making.

It is the nature of the demand.

The money continued doing so until the entire wallet was totally empty from all the coins. It was then when the last coin struck his head that the man woke up and realized what had been happening to his fortune.

The man didn’t get angry and was not furious at the monkey and what he did to his fortune. The man quickly arrived at the inevitable conclusion that what goes around, comes around. A coin thrown into the river symbolizes the illegal money he had been receiving from selling conned products. Another coin thrown on his head was for the actual genuine yogurt he sold. One for the river and one for the head.

MP Mohammad Al-Saqr has quite rightly made a statement when he said: “The number of investigative cases carried out by the National Assembly makes the institution more like a police station.”

The MP is referring here to the rule of the majority MPs who are overwhelming the Kuwaiti parliament. To prove the MP’s point, one can only refer to the recent demands made

by MP Faisal Al-Mislem who said that a parliamentary committee should be set up to investigate the fire in Jahra.

The problem here is not the demand he is making. It is

the nature of the demand. If the National Assembly should be incharge of investigating a fire incident in Jahra, then surely we need to find a new jobs for policemen as their work is being overtaken by the MPs. So, we can expect the police officers doing the job of the MPs perhaps since they have nothing to do. Or, perhaps deal with tenders in the country and decide who the best bidder is.

I really hope that the President of the National Assembly would write a plague on gates of the National Assembly “One for the River and One for the Head”.

Moving to some local news, I am sure that many of us are surprised and shocked at the fire in Jahra because of some disused tires which had been accumulated and dumped there for the past 10 years. I am not talking about the fire and disused tires here. I am talking about a pile of disused tires which had been in that area for many years, summer went and winter came, dusty weather began and humid climate finished and nothing happened there.

But remarkably and miraculously, the minute there was news coverage made about the tires and a possible environmental danger if something happened to them; suddenly

we are dealing with ablaze. I believe in coincidence but for a pile of disused tires of this scale to be set ablaze and only a few hours after a parliamentary delegation made a visit to the area, we are rather pushing our luck here with the coincidence element.

Then we hear MP Jamaan Al-Harbash crying: “Jahra Fire is a crime and the Prime Minister should be held accountable for its political responsibility. Such an incident is enough to topple the entire government.”

Doesn’t MP Jamaan Al-Harbash get it? There is a police in this country and they can do their job perfectly. Or, this is just another classical case of one of the river and one for the head?

Let us not get matters out of proportion here. It is easy and simple. The fire was carried out by an arsonist and it is a deliberate act. So, let us not make a drama out of the whole situation when we know for well the exact truth behind it.

Finally, it was announced some days ago the police had issued more than 60 traffic citations against vehicles stationed on state’s plots of lands. The vehicles in questions are exhibited in Hawalli area for sale purpose by people who wish to sell their cars independently. Of course, it would be a great mistake on my part and perhaps unforgivable if I suggested that the Kuwait Municipality would allocate a plot of land for that purpose.

Kuwait Municipality is probably the most corrupt institution and by depriving the public from exhibiting their cars, the revenue it generates would be paid to cover expenses of the various lawsuits made against the Kuwait Municipality.

BU QUTADA & BU NABIL

I have already talked about the file of rich expatriate workers in Kuwait and this file should be opened.

Bu Nabeel .... there are a huge number of used cars.... take action as they will cause another disaster

Oh man, please keep silent ...... don’t talk about that

Bu Nabeel .... watch Amghara wood scrap yard ...... it is full of wood..... it could lead to a disaster

Keep silent ..... nobody knows about that

Rashid Al-Radaan

T

he great fire that was erupted by a huge number of tires estimated more than five million would be extinguished very soon and the relevant security authorities will open an investigation to follow up the case and discover the criminals who committed such sinister acts either if criminals are individuals, companies or certain personalities who might obtain certain interests from such action. Such action could be committed by certain personalities if they plan to exploit the site of tires then they might reach to the evil idea that they can`t clean the area only by burning tires even if fire affects the lives of thousands of people!!

However, the events of setting fire in certain sites in Kuwait occurred several times before an Indian dealer in Kuwait is famous for setting fire wherein whenever a fire is erupted in Shuwaikh industrial area people start talking about the man accusing him of burning his own shops and stores to get more money!

He gained millions of dinars by burning his stores! For this guy getting money through fire is very easy wherein he used to fill his stores with old and used tires by bringing a professional technician to set fire at the store at dawn when people and even firemen relax or sleep. After the fire he reports the matter to police and investigations usually show that fire was erupted due to an electric fault. Meanwhile, the guy takes official documents to prove that then he heads to insurance companies and compensation.

I have already talked about the file of rich expatriate workers in Kuwait and this file should be opened. Of course, I mean by rich expatriates the corrupt ones because they are behind many disasters that took place in Kuwait!! Let`s wait for the results of investigation in Amghara tires fire and we are sure that some expatriate workers will be behind such a disaster as well as many other security problems. The rich expatriates set fire in tires and factories and they even attempt to stir sectarian sedition in the country. They also have large amounts of money and they have already purchased the loyalty of certain Kuwaiti officials, newspapers and media sources but the government did not take any action to stop such dangerous practices. The agents of the former Iraqi President Saddam Hussein were running leading companies in Kuwait and we could not discover them only until after the Iraqi invasion!!

Bu Nabeel the government stores lack safety conditions .... and they are full of different objects

Don’t talk about that

Okay, so when do you want to talk about these things?

Just keep silent until we’re set alight, that way we can grill whichever official is required

Mohmmed Thallab

mthallab@alwatan.com.kw

The penalty for insulting God Almighty and the Prophet peace be upon him Dr. Waleed Al-Tabtabaie

A

large number of people turned the suggested draft law for toughening the penalty of insulting God, Prophet and the Prophet’s wives are spoken of controversially as a lot of people still argue about the new penalty which might reach to capital punishment. We witnessed such huge controversy although lawmakers took into consideration all opinions and fatwa of Muslim clerics of the different sects. Lawmakers also attempted to avoid all points that might raise disputes but some personalities exert all possible efforts to interrupt applying the laws.

However, the law was endorsed to stop talking inappropriately about God and the Prophet as such a matter might stir sectarian sedition at any time. Therefore, lawmakers had to adopt a tough penalty to prevent any attempts that might impact national unity.

Adopting capital punishment is to stop people from

Adopting capital punishment is to stop people from undermining national security and it will never become adopted for the sake of death or killing people.

undermining national security and it will never become adopted for the sake of death or killing people. And God Almighty ordered for killing the Muslim who murders another. Such consequences for a crime that severe will make people avoid murdering others as they know well they will face capital punishment.

The case of putting the persons who commit such sin to death is a well known penalty and it is approved by the different Muslim sects and doctrines. Prominent Muslim clerics had supported such penalties and I will mention some

of them. The cleric Al-Sharif Al-Murtada said in the Victory Book- page 480- that those who insult the prophet either Muslims or non-Muslims should be put to death immediately.

The cleric Ali Asgar Murwareed in the book of Al-Yanabae Al-Fuqhaya said that anybody who insults the prophet should be put to death immediately but the cleric Abu Hanifa held different opinions saying if a Muslim insults the Prophet then the very person can be considered as a Muslim who changed his religion in which the person can

be given period of three days then he can be released if he changes his mind and repents but if he insists not to change his thoughts then he should be put to death. If the person who insults the prophet is a non-Muslim then he can be penalized by other means such as lashing but not death.

The cleric Waheed Al-Kharasani said in his book- Menhaj Al-Saleheen- that anybody who insults God Almighty or the prophet then is an infidel. The cleric Al-Hur Al-Amili said in his book Wasael of Shiites that the persons who insult the Prophet or even those who pretend to be prophets should be killed. As a result the draft law which is expected to get approval by the parliament to be a valid law soon is a legal step supported by the clerics of the different Muslim sects. This law can also be considered as a positive step for showing the national unity and agreement between the Muslim sects especially that the suggested law concerns the most precious things in our lives God Almighty and the Prophet peace be upon him.

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ALWATAN DAILY

views How Brazil broke loose Mark Roe and João Paulo Vasconcellos Project Syndicate

B

razilian President Dilma Rousseff’s visit last week to Washington, DC, offers an occasion to consider how some oncepoor countries have broken out of poverty, as Brazil has. Development institutions like the World Bank have advocated improving business law as an important way to do so. Are they right?

Such thinking goes back at least as far as Max Weber’s argument that an effective business environment requires a legal structure as predictable as a clock. Investors, it is thought, need clear rules and effective courts. Security of contract and strong mechanisms that protect investors are, in this view, foundational for financing economic growth. If a potential financier is unsure of being repaid, he or she will not invest, firms will not grow, and economic development will stall. Rules and institutions come first; real economic development follows.

But, compelling as this logic seems, Brazil’s rise does not confirm it: financial and economic growth was not preceded by - or even accompanied by - fundamental improvements in courts and contracts.

Growth is unmistakable: Brazil’s financial markets have expanded robustly, with stockmarket capitalization rising from 35 percent

THURSDAY, april 19, 2012

of GDP in 2000 to 74% in 2010. In the eight years prior to 2004, only six companies went public; in the eight years since, 137 have. Last year, Brazil overtook the United Kingdom - often held up as an exemplar of contractual security - as the world’s sixth-largest economy.

And yet legal change was not central in Brazil’s success. Brazilian courts were reputed in 2000 to handle investors’ lawsuits slowly and poorly, and they are reputed to handle them slowly and poorly today. Even basic features of business organization - like limiting shareholders’ obligation for corporate debts - are said by Brazilian legal experts, such as Bruno Salama, to remain an open question, with shareholders potentially exposed to unlimited liability, especially in labor and tax lawsuits.

If courts are not protecting investors, is something else doing the job? One major change was new stock-exchange rules, which, fitfully, have strengthened outside investors’ confidence, though only for new companies.

For legal scholars, most prominently Columbia University’s John Coffee, stock exchanges have historically been the first step toward protecting investors. That view is supported by research conducted by Ronald Gilson, Henry Hansmann, and Mariana Pargendler, who have analyzed how Brazil’s Novo Mercado - the stock exchange’s new segment for initial public offerings (IPOs) - has protected investors in newly listed companies.

But stock exchanges have limits, particularly in Brazil. In the absence of reliable and efficient courts, they cannot sue to enforce their rules. Their only recourse is to push recalcitrant firms off the exchange.

The Novo Mercado dealt with this prob-

The Novo Mercado dealt with this problem by subjecting disputes involving its newly listed companies to arbitration, far from the courts. lem by subjecting disputes involving its newly listed companies to arbitration, far from the courts. Commercial arbitration - and courts’ obligations to enforce the arbitrators’ decisions - can assure investors, even if the courts generally do not.

But arbitration - which has yet to be deeply tested for resolving disputes on the Novo Mercado - does not seem to be the linchpin of Brazil’s recent success, which followed a century of erratic financial development. After all, the institutional innovations apply only to new companies that volunteer to list their shares on the Novo Mercado, and thus do not cover the overwhelming majority of existing firms in the Brazilian economy, which were previously listed on the main stock exchange and are stuck with the old rules, old institutions, and an ineffective court system.

Two other key changes, one obvious and one surprising, were more essential to Brazil’s financial development.

The obvious change is that economicgrowth opportunities mushroomed, owing to greater monetary stability, disinflation, and natural-resource wealth. Better macroeconom-

ic policy led to faster GDP growth, which required financing and motivated some insiders to forego pernicious maneuvering that would scare away new outside investors.

Growth plausibly drove financial development as much as, or more than, institutional development did. While public and private enforcement will need to improve if Brazil’s economy is to move to the next level, dramatic legal improvement has not underpinned Brazil’s overall financial development so far.

The second change is both less obvious and more important: the political stability that came with the election in 2002 of President Luiz Inácio Lula da Silva. The surprise here is that Lula, a former labor leader who had been on the far left, was widely opposed, if not despised, in business and financial circles. How, then, did his victory help to fuel the financial growth of the subsequent decade?

Despite his past, Lula promised not to disrupt Brazilian corporate capitalism, running with a market-oriented vice president. Why this happened is difficult to determine: quite plausibly, some combination of Lula’s realism, his reaction to stock-market declines attributed

The paranoid style in Chinese politics

7

to his chances of being elected, and campaign donations was at work.

Once elected, Lula governed from the pragmatic left, continuing the prior administration’s core policies. True, Brazil still has a “hard” left, and some in Lula’s own party are comfortable with, say, Cuba’s Castro brothers and Venezuelan President Hugo Chávez. But a consensus had emerged in Brazil that a left party could neither win nor govern with hard-left ideas, and Lula’s presidency did not challenge this view.

The consensus may have reflected the success of Lula’s predecessor, Fernando Henrique Cardoso, the relative success of privatization and liberal market economies around the world, and the growth of Brazil’s middle class. Whatever the case, for key leaders of the Brazilian left, including Rouseff, capitalism became part of the solution, not the fundamental problem.

Investors take all kinds of risks. The biggest are not always the legal ones on which the World Bank and development agencies have focused; rather, they are the business risks of a company that fails or a polity that implodes.

If business conditions are auspicious and there is a strong consensus in favor of liberal capitalism as the polity’s core economic principle, financial markets can develop and reluctantly absorb risks stemming from the legal system’s organization. Those institutional improvements can come later.

Mark Roe is a professor at Harvard Law School. João Paulo Vasconcellos is a lawyer and a partner at Leoni Siqueira Advogados in Rio de Janeiro, Brazil.

What the Loebs can learn from the Pulitzers

The final decision can remain where it is, but it should be much more informed by the people who picked the finalists than it is right now.

Felix Salmon Reuters

I FILE- Chongqing Municipality Communist Party secretary Bo Xilai, (front), reacts during the closing session of the Chinese People’s Political Consultative Conference, March 13, 2012. (AP) Minxin Pei Project Syndicate

H

enry Kissinger, who learned a thing or two about political paranoia as Richard Nixon’s national security adviser and Secretary of State, famously said that even a paranoid has real enemies. This insight - by the man who will be known forever for helping to open China to the West - goes beyond the question of whether to forgive an individual’s irrational behavior. As the scandal surrounding Bo Xilai’s dramatic fall from power shows, it applies equally well to explaining the apparently irrational behavior of regimes.

Most reasonable people would agree that the world’s largest ruling party with nearly 80 million members, with a nuclear-armed military and an unsurpassed internal-security apparatus at its disposal, faces negligible threats to its power at home. And yet the ruling Communist Party has remained brutally intolerant of peaceful dissent and morbidly fearful of the information revolution.

Judging by the salacious details revealed so far in the Bo affair, including the implication of his wife in the murder of a British businessman, it seems that the Party does indeed have good reason to be afraid. If anything, its hold on power is far more tenuous than it appears. Indeed, Bo, the former Party chief of Chongqing, has come to symbolize the systemic rot and dysfunction at the core of a regime often viewed as effective, flexible, and resilient.

Of course, corruption scandals involving high-ranking Chinese officials are common.

Two members of the Party Politburo have been jailed for bribery and debauchery. But what sets the Bo scandal apart from routine instances of greed and lust is the sheer lawlessness embodied by the behavior of members of China’s ruling elites. The Bo family, press reports allege, not only has amassed a huge fortune, but also was involved in the murder of a Westerner who had served as the family’s chief private conduit to the outside world.

While in power, Bo was lauded for crushing organized crime and restoring law and order in Chongqing. Now it has come to light that he and his henchmen illegally detained,

Fortunately for the Party, public outrage over the lawlessness and corruption of leaders like Bo has been expressed in cyberspace, not in the streets. tortured, and imprisoned many innocent businessmen during this campaign, simultaneously stealing their assets. While publicly proclaiming their patriotism, other members of China’s ruling elites are stashing their illgotten wealth abroad and sending their children to elite Western schools and universities.

The Bo affair has revealed another source of the regime’s fragility: the extent of the power struggle and disunity among the Party’s top officials. Personal misdeeds or character flaws did not trigger Bo’s fall from power; these were well known. He was simply a loser in a contest with those who felt threatened by his ambition and ruthlessness.

The vicious jockeying for power that the party faces during its leadership succession this year, and the public rift that has resulted from Bo’s humiliating fall, must have gravely undermined mutual trust among the party’s top leaders. China’s history of political turmoil, and the record of failed authoritarian regimes elsewhere, suggests that a disunited autocracy does not last very long. Its most dangerous enemy typically comes from within.

Moreover, the amateurish manner in which the Party has handled the Bo scandal indicates that it has no capacity for dealing with a fast-moving political crisis in the Internet age. While political infighting obviously might lie behind the Chinese government’s hesitancy and ineptness in managing the scandal, the Party undermined its public credibility further by initially trying to cover up the seriousness of the affair.

After Wang Lijun, Bo’s former police chief, very publicly sought asylum in the

United States’ consulate in Chengdu, a city some four hours from Chongqing, the Party thought that it could keep the Bo skeleton in the closet. Using language that would make George Orwell blush, officials declared that Wang “suffered from exhaustion from overwork” and was receiving “vacation-style treatment”; in fact, he was being interrogated by the secret police.

What made the Party’s top brass lose face - and sleep - was the failure of China’s famed “Great Firewall” during the Bo saga. Attempts to censor the Internet and mobile text services failed miserably. Chinese citizens, for the first time in history, were able to follow - and openly voice their opinions about - an unfolding power struggle at the very top of the Party almost in real time.

Fortunately for the Party, public outrage over the lawlessness and corruption of leaders like Bo has been expressed in cyberspace, not in the streets. But who knows what will happen when the next political crisis erupts?

China’s leaders, we can be sure, are asking themselves precisely that question, which helps to explain why a regime that has apparently done so well for so long is so afraid of its own people.

It is difficult to say whether a paranoid with real enemies is easier to deal with than one without any. But, for China’s government, which rules the world’s largest country, paranoia itself has become the problem.

Overcoming it requires not only a change of mindset, but a total transformation of the political system.

Minxin Pei is Professor of Government at Claremont McKenna College.

’m not a huge fan of journalism awards.

The Pulitzers, in particular, are a peculiar fish: they tend to award long and worthy work which almost nobody had the time to wade through when it first came out.

That’s a type of journalism, to be sure but is it the very best journalism that the profession produces? And while this year’s journalism winners were very good, the editorial cartoons which got Politico its first Pulitzer were so bad as to make one wonder whether the quality of the jury’s awards was more a matter of luck than judgment.

I’ve never sat on a Pulitzer jury, but I have sat on a Loeb award jury, twice. The Loebs are the Pulitzers of the business press, and perform a necessary function in a world where the Pulitzer jury saw fit to award precisely zero business or finance stories in 2008, 2009, or 2010. Eventually, Jesse Eisinger and Jake Bernstein won for their Magnetar story in 2011 - it was perfectly good, but it was hardly the greatest piece of business journalism that the crisis produced.

The Magnetar story, which was published online rather than in print, didn’t win a Loeb, and similarly it’s very hard to imagine the Huffington Post winning a Loeb award.

This is the first area where the Loebs should learn from the Pulitzers: they should stop being obsessed with the medium in which a story appears.

The Loebs have awards for large newspapers and for small newspapers, for news services and for magazines - all of them judged according to exactly the same criteria.

The result is that some weak stories win Loeb awards because they’re in categories with no strong competition, and others get two or more bites at the cherry, being nominated in multiple categories to maximize their chances.

The Pulitzers, by contrast, just talk about things like feature writing and international reporting and commentary. Medium is unimportant, which probably goes to explain why outlets like ProPublica and HuffPo and Politico are finding it significantly easier to win Pulitzers than to win Loebs. Meanwhile, the Loebs respond to new media by creating a “blogs” award and then turning around and giving it to the NYT. While the Loebs are learning from what the Pulitzers are doing right, they should learn from the Pulitzers’ mistakes, too. This year, the big controversy at the Pulitzers is over the fiction award, or rather the lack thereof.

Three jurors read 300 books each over the course of six months before finally whittling the finalists down to three books - a huge effort and achievement. And all of them thought that the finalists were more than worthy of a Pulitzer. Yet for reasons

which remain extremely murky, the final jury, after reading all three books, declined to give any of them the award.

There are two possible things going on here. The first is that the final jurors thought less of the finalists than the fiction jurors did, and decided that none of them was worthy of a Pulitzer.

The second is that there was a deadlocked jury with each of the three books having its own partisans, and none of the three books being able to win over the absolute majority of the votes needed. Or it could be some combination of the two.

Either way, it’s abundantly clear that the fiction jurors are now looking at the final jurors with disgust, and wondering why they put so much effort into reading so many books, if the outcome was going to be so incredibly disappointing for all concerned.

Now as a Loeb juror myself, I have to start treading carefully here: everything that happens in those meeting rooms is confidential. But I can say that after my last appearance on a Loeb jury, my feelings weren’t all that far away from those of the fiction jurors for the Pulitzers.

The problem, in both cases, is the same: a panel of senior jurors picks winners without really understanding how and why the shortlist was chosen. And, at least at the Loebs, the final jury not only has the ability to award no prize at all; they even have the ability to award the prize to a piece which the junior jury deliberately left off the list of finalists.

The final jury is filled with important worthies: there’s no point in them just being a rubber stamp. But at the same time, the lower juries tend to be much more familiar with the pieces in question, and tend to have put a huge amount of thought into determining who should be on the list and who shouldn’t be.

To take a not-entirely-hypothetical example: what if someone won a Loeb award for a piece which rehashed a much more original work in the same publication, dated a couple of months earlier?

That would be bad. But this would be worse: if the rehashed piece was deliberately excluded from the list of finalists for obvious reasons, and then reinstated by the final judges, just because they had no idea why it wasn’t included.

The problem, in general, is a lack of communication between the first-round and second-round judges. The final-round judges should be much closer to the initialround judges, going back and forth, asking them why this made it through and that didn’t.

The final decision can remain where it is, but it should be much more informed by the people who picked the finalists than it is right now. Because if the second-round judges don’t talk to the first-round judges, the first-round judges are likely to feel rather disgruntled. Especially if the winner was never on the original list of finalists, or if there’s no winner at all.

Felix Salmon is the finance blogger at Reuters. The opinions expressed are his own.

8

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Tel.: Afghanistan 2532 9461 Algeria 2251 9220 Argentina 2537 9211 Austria 2255 2532 Australia 2232 2422 Azerbaijan 2535 5247 Bahrain 2531 8530 Bangladesh 2531 6042 / 3 Belgium 25722014 Bhutan 2251 6640 / 50 Bosnia 2539 2637 Brazil 2532 8610 Bulgaria 2531 4458 Canada 2256 3025 China 2533 3340 Cuba 2254 9361 Cyprus 2243 3075 Czech 2252 9018 Denmark 2534 1005 Egypt 2251 9956 Ethiopia 2533 4291 Eritrea 2531 7426 Finland 2531 2890 France 2257 1061 Germany 2252 0827 Greece 2481 7101 Georgia 2535 2909 Hungary 2532 3901 India 2253 0600 Indonesia 2483 9927 Iran 2256 0694 Italy 2535 6011 Japan 2530 9400 Kenya 25353314 / 25353362 Lebanon 2256 2103

Libya 2257 5183 Malaysia 2255 0394/5/6 Morocco 2531 2980 / 1 Netherlands 2531 2650 Niger 2565 2943 Nigeria 2562 0278 North Korea 2532 9462 Oman 2256 1956 Pakistan 2532 7651 Philippines 2534 9099 Poland 2531 1571 Qatar 2251 3606 Republic of Botswana 2538 3619 Romania 2484 5079 Russia 2256 0427 Saudi Arabia 2240 0250 Senegal 2257 3477 Slovak Republic 2535 3895 Somalia 2539 4795 South Africa 2561 7988 South Korea 2533 9601 Spain 2532 5829 / 7 Sri Lanka 2533 9140 Switzerland 2534 0172 / 5 Syria 2539 6560 Thailand 2531 7530 Tunisia 2252 6261 Turkey 2253 1785 UAE 2535 5764 UK 2259 4320 Ukraine 2531 8507 USA 2259 1001 Venezuela 2532 4367 Vietnam 2531 1450 Yugoslavia 2532 7548 Zimbabwe 2562 1517

2257 5182 2255 0384 2531 7423 2532 6334 2564 0478 2562 0296 2535 1097 2256 1963 2532 8013 2532 9319 2531 1576 2251 3604 2539 3529 2484 8929 2252 4969 2242 0654 2254 2044 2535 3894 2539 4829 2561 7917 2531 2459 2532 5826 2533 9154 2534 0176 2539 6509 2531 7532 2252 8995 2256 0653 2259 4339 2538 0282 2532 4368 2535 1592 2532 7568 2562 1491

Police stations Tel.:

Abu Halifa 2371 7656 Ahmadi 2398 0304 Ardiya 2488 1273 Bayan 2538 7762 Dahar 2383 0500 Dahiya 2256 0855 Dasma 2253 1917 Fahaheel 2391 2959 Faiha 2255 2693 Farwaniya 2471 1977 Ferdous 2489 0583 Fintas 2390 4388 Hawalli 2264 1116 Jabriya 2531 5855 Jahra Ind. Area 2457 5565 / 2458 7392 Jahra North 2455 2295 Jleeb Al Shouyoukh 2431 1234 Keifan 2483 2839 Kheitan 2472 2590 Mina Abdullah 2326 1144 Nugra 2261 6662 Omariya 2474 2160

Ambulance

Central Adan Amiri Hospital Da’iya Fahaheel Farwaniya Farwaniya Jahra Mubarak Al Kabir Sabah Salmiya Shuaiba

23940600 / 23941455 22422366 22510854 23919098 24883000 24725149 24570583 25311437 24815000 25739011 23261927

Private Hospitals

Al-Rashid Hospital Dar Al-Shifa Hospital Hadi Clinic London Hospital Mowasat Hospital Salam Hospital

Qadsiya 2257 4386 Qurain 2542 3772 Rabiah 2474 2160 Rawda 2256 0058 Riqqa 2394 1958 Rumaithiya 2562 4123 Sabah Al-Salem 2551 7229 Sabahiya 2361 5619 Salhiya (Kuwait City) 2242 7157 Salmi 2457 6576 Salmiya 2572 6950 Salwa 2562 6950 Shamiya 2484 5953 Sharq 2244 2466 Shuaiba Ind. Area 2326 1789 Shuwaikh 2481 3726 / 2484 4842 Sulaibekhat 2487 6555 Sulaibiya 2467 0672 Sulaibiya Ind. Area 2467 2728 Surra 2531 2220 Tayma’a 2457 1700 Wafra 2381 0412 Waha 2455 7902 Zour 2395 0160

Adan General Hospital Al-Sabah Chest Hospital Al-Sabah Maternity Hospital Amiri General Hospital As’ad Al-Hamad Dermatology Center

Farwaniya General Hospital Ibn Sina Hospital Jahra General Hospital Mubarak Al-Kabeer General Hospital Subhan Renal Hospital Sulaibikhat Orthopedic Hospital

25624000 22802555 1828282 1883883 25726666 22533177

Private Health Centers/ Clinics

Boushahri Clinic British Medical Center Care Clinic International Clinic

Public Hospitals

cons u l a tes

Fax 2532 6274 2251 9497 2537 9212 2256 3052 2232 2430 2535 5246 2533 0882 2531 6041 2574 8389 2251 6550 2539 2106 2532 8613 2532 1453 2256 4167 2533 3341 2254 9360 2240 2971 2252 9021 2534 1007 2256 3877 2533 1179 2531 7429 2532 4198 2257 1058 2252 0763 2481 7103 2535 4707 2532 3904 2257 1192 2481 9250 2252 9868 2535 6030 2530 9401 25353316 2257 2182

centr a l 4 7 2 2 0 0 0

94904040

hospital charges

medical services

Call, sms, Email us

O n- s i t e I T s e r v i c e s

23940600 24815000 24848067 22450080

1885544 23713100 22610666 25745111

Public Health Centers/ Clinics:

Dasman Clinic Faiha Polyclinic Farwaniya Polyclinic Hawalli Polyclinic Inaya Germen Medical Center Sabah Al-Salem Clinic Salmiya Polyclinic Shamiya Clinic Shuwaikh Clinic Yarmouk Clinic

24832067 24883000 24840300 24575300 25312700 24840027 24874240

22447602 22545188 24726033 22611645 25750777 25524821 25723500 25610660 24848913 25336482

DOCTORS & DENTISTS

I N PR I VAT E PR AC T ICE

Andrology, Male Infertility and Impotence Specialist Abdullatif A. Al Salim 2533 4438

Dermatologist & Venereologists Fahad I. Al Othman 2266 5166 Taibah M. Almonayes 2573 7477 Dr. Mohamed Bo Hamra 2266 5166

Dentists & Oral Surgeons Ahmed Al Balool 2262 2211 Badri K. Al Rayes 2574 2557 Duha Al Shaqan 2264 4614 Ebraheem Behbehani 2573 0000 Farida Al Herz 2257 3883 Maria Blanaru 2573 0000 Najat Essa-Bahman 2262 4595 Najeeb Kassim 2573 9277 Salwa A. Abdulsalam 2573 0000 Kuwait Medical Center 2575 9044 / 5 Endocrinologists Latifa Al Dowaisan Kamal Abdulaziz Al Shome

Gastroenterologist Mohamed A. Al Shimali 2532 2030 - 2263 9955 Urologist Fawzi Taher Abul Ali Yousef Mehdi

2565 0064 2533 3501

General Practitioner Dina Al Rifai 2533 3501 - 2533 3502 Obstetricians & Gynecologists Samira Al Awadi 2573 8055 Ma’asouma Maksheed 2573 1275 Mohamed Gamal 2534 9077 Mai Al Snan 2532 1171

2572 8004 2532 9924

Ear, Nose & Throat Surgeons Hossam Eldin Abdulfattah 2574 5056 Abdulmohsen Mousa Jafar 2565 5535

Cosmetic Surgeon Dr. Adel Quttainah

2562 5030 / 60

Ministries

Awqaf & Islamic Affairs Commerce & Industry Communications Defense Education Health Higher Education Electricity & Water Finance

2248 0000 2248 0000 2481 9033 2484 8300 2481 7702 2487 7422 2240 1300 2537 1000 2248 0000

Foreign Affairs Housing Information Justice, Legal & Administrative Affairs Energy Planning Social Affairs & Labour Public Works

2242 5141 2530 1000 2241 5301 2248 0000 2241 5201 2242 8200 2248 0000 2538 5520

RESTAURANT • Café Library Lounge Al-Manshar Rotana Hotel Tel: 23931000 Hang.Out Lounge Galleria 2000 Tel: 25755588 Song Bird Café Hilton Kuwait Resort Tel: 23725500 Chit Chat Café Restaurant Safir Hotel & Residences -Fintas Tel: 25455555 Lounge Café Safir Hotel & Residences -Fintas Tel: 25455555 The English Tea Room Sheraton Hotel Tel: 1835555 Waterlemon Al-Raya Tel: 22244797 Marina Mall Tel: 22997666 Le Pain Quotidien Palms Beach Hotel Tel: 25633684 Marina Crescent Tel: 22244942 Avenues Tel: 24954632 • Casual Dining Applebee’s Bneid Al-Gar Tel: 22407536 Fintas Tel: 23714559 Burgerhub Gulf road Tel: 22464818 Chili’s Bneid Al-Gar Tel: 22452200 Chili’s Al-Bida’a Tel: 22253120/1 Hard Rock Café Salmiya Tel: 25710004 Ruby Tuesdays Bneid Al-Gar Tel: 22444454 T.G.I. Fridays Bneid Al-Gar Tel: 22544300

• Chinese China Hut Tel: 25656226 China Express Jabriya Tel: 25342399 Salwa Tel: 25653230 China House Salmiya Tel: 25713339 / 60 China Lake Al-Blajat St. Tel: 25713072 / 3 China Town Salmiya Tel: 25652541 Greens Al-Wafra Complex Tel: 22516031

Tel: 1815050 • French Le Notre Gulf Road Tel: 25758888 • Indian Dawat Restaurant Bneid Al Gar Tel: 22411728 Abu Halifa Tel: 23724251 Al Alamia Mall, Jahra Tel: 24554642 Taal Restaurant Salmiya Beda’ Tel: 22253142 Winner’s Salmiya Tel: 25739954 Abu Halifa Tel: 23711374 / 5 Riggae Tel: 24895501 / 2 Jahra Tel: 24560088/8800

Gulf Royal Tel: 23925390-Fintas 22622556-Hawalli 25710448-Salmiya 22244795-Marina

Asha’s Tel: 22244502/3/9 Marina Crescent Tel: 24954700

Noodles Salmiya Tel: 25712233

Bukhara Sheraton Hotel Tel: 22422055

The Peacock Radisson Blu Hotel Tel: 25673000

Tourist Restaurant Kuwait City Tel: 22411702

Noodle Factory Avenues Tel: 24954751

Mugal Mahal Farwaniya Tel: 24726126/7 Fintas Tel: 23915588 Salmiya Tel: 25722223/4 Sharq Tel: 22425132

• Continental Casper & Gambini’s Kuwait City Tel: 22430054 La Marina Sharq Mall Tel: 22426672 • Fast Food Burger King Tel: 22444466 Domino’s Pizza Tel: 1800800 Hardees Tel: 1888333 KFC Tel: 1888666 Little Caesar’s Tel: 1888855 Pizza Hut

Tikka Tel: 1822833 • International Al-Bustan Radisson Blu Hotel Tel: 25673000 Al-Hamra Sheraton Hotel Tel: 22422055 Al-Marsa Restaurant Le Meridien Tel: 22510999 Atrium Restaurant Courtyard Marriott Hotel

Tel: 22997000

L I S T I N G S

Beit 7 Kuwait City Tel: 22450871 Café Rio Al-Fanar Tel: 25732226 Dunes Ritz Hotel Tel: 22499911 Failaka Al-Manshar Rotana Hotel Tel: 23931000 La Brasserie JW Marriott Tel: 22455550 Ritz Shamiya Tel: 24820184 Shuwaikh Tel: 24844350 Square International Tel: 22437681 Test n’ Taste Villa Moda Tel: 24827010 Teatro Hilton Kuwait Resort Tel: 23725500

Kuwait City Tel: 22400737

Nino Gulf Road Tel: 22541900 Pizza Express Abdullah Al-Salem Tel: 22560273 Al-Bida’a Tel: 22253166 Airport Tel: 24342681 Tel: 23725500 Ricardo Sheraton Hotel Tel: 22422055 • Japanese Edo Shaab Tel: 22659590 Kei JW Marriott Hotel Tel: 22422650 Korea & Japan Restaurant New Park Hotel Tel: 25634200

Sakura Crowne Plaza Hotel Tel: 24742000

AlRoshinah Restaurant Safir Hotel & Residences -Fintas Tel: 25455555

Shogun The Palms Hotel Tel: 27070022

Il Forno Restaurant Courtyard Marriot Hotel Tel: 22997000 Johnny Carino’s Salmiya Tel: 22667050 La Piazza Kuwait City Tel: 24246639 Lorenzo

Manousha Salmiya Tel: 25722607 / 8

Al-Noukhaza Crowne Plaza Hotel Tel: 24742000

Fakhr Al-Din Restaurant Kuwait City Tel: 22423180

Villa Fairouz Shaab Tel: 22652030

Shrimpy Gulf Road Tel: 22563118 Totally Fish Marina Crescent Tel: 22244960/1

Garden New Park Hotel Tel: 25634200

Yeldes Palace Kuwait City Tel: 22455212

Kabab-Ji Tel: 1861616

Zahrat Tunis Hawalli Tel: 22662444/333

Mais Al-Ghanim Kuwait City Tel: 22402590

• Persian Kabab Al-Hijja Bnaid Al-Gar Tel: 22517512

Palm Palace Salmiya Tel: 25756331 Saj Express Kuwait City Tel: 22497822 Sarai Al-Bida’a Tel: 22253180/1 Shisha &

Sushi Club Al-Blajat St. Tel: 25712144 Wasabi Al-Bida’a Tel: 22253112 Kuwait City Tel: 22494000 • Lebanese Al-Berdawny Palace Tel: 25661117 Ayam Zaman Holiday Inn Tel: 18477777 Burg Al-Hamam Gulf Road Tel: 22529095

• Steak House Relais De L’Entrecote Al-Fanar Complex Tel: 25729600 Terrace Grill JW Marriott Hotel Tel: 22455550

Shabistan Crowne Plaza Hotel Tel: 24742000

The Gaucho Grill The Palms Hotel Tel: 25667370 -

• Seafood Al-Ahmadi Crowne Plaza Hotel Tel: 24742000

• Tex-Mex Chi Chi’s Salmiya Tel: 25625811

Al-Boom Radisson Blu Hotel Tel: 25756000

Tumbleweed Southern Grill Al-Bida’a Tel: 22253154/5

Maki Al-Blajat St. Tel: 25733561 Marina Waves Tel: 22244560

Flavors Restaurant Safir Hotel & Residences -Fintas Tel: 25455555

• Italian Ciro’s Pomodoro Kuwait City Tel: 22424004

Saj Express Kuwait City Tel: 22497822

Te l : 1 8 3 9 0 9 0

Salmiya - Jabriya - Keifan www.healthstop.com.kw

HOTELS

FIVE STAR Al-Manshar Rotana Hotel Crowne Plaza Kuwait Hilton Kuwait Resort JW Marriot Kuwait City Hotel Kempinski Julai’a Hotel & Resort The Regency Hotel & Resort Le Meridien Le Meridien Tower Marina Hotel Kuwait Movenpick Albid’a Movenpick Palms Beach Hotel & Spa Radisson Blu Hotels & Resorts Refad Palace Safir International Hotel Kuwait Sheraton Kuwait Hotel & Towers Safir Hotel & Residences Kuwait

23931000 24772000 23725500 22455550 1 844 444 25766666 22510999 22831831 22244970 22253100 24610033 22824060 25673000 23908630 22530000 22422055 25455555

FOUR STAR Carlton Tower Hotel The Courtyard by Marriott Kuwait El Joan Resort Four Points by Sheraton Kuwait

22452740 22997000 23281897 22415001

Ghani Palace Hotel Holiday Inn Khalifa Resort Kuwait Continental Hotel New Park Hotel Al Bastaki Hotel Al Dana Hotel Heritage Village Palace Hotel Shiik Flamingo Hotel & Resort Swiss-Belhotel Plaza Kuwait

25710301 1 847 777 23280144 22527300 25634200 22555081 23902760 22520600 1 821 111 25725050 22436686

THREE STAR Imperial Hotel Oasis Hotel Safari House Hotel Second Home Hotel Spring Continental Hotel Ibis Hotel Salmiya Ibis Hotel Sharq

22528766 22465489 22443136 22532100 25742410 25713872 22928080

TWO STAR International Hotel Kuwait Residence Hotel

25741788 22467560

Japan cuts April Iran oil purchases 77%

BUSINESS

thursdAY, april 19, 2012

m ar ket watc h KUWAIT 0.5% 6268

DUBAI 0.4% 1643

TOKYO: Japan will slash its crude purchases from Iran by almost 80 percent in April compared to the first two months of the year as buyers comply with Western sanctions, trade sources said. The cuts, amounting to 250,000 barrels per day (bpd), are the steepest yet by the four Asian nations who buy most of Iran’s 2.2 million bpd of exports, as tightening sanctions make it tough to pay, ship and insure the oil.

See page 10

OIL MARKETS

QATAR

OMAN

ABU DHABI

BAHRAIN

0.0% 8717

0.4% 6008

0.3% 2513

0.8% 1154

EGYPT 0.1% 4673

SAUDI 0.0% 7514

US Crude $104.00 $0.20 London Brent $117.62 $1.16 Kuwait Crude $115.85 $1.99 Information Courtesy: KAMCO

CURRENCIES US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2781 Sell 0.2786 Buy 0.3641 Sell 0.3648

Kuwaiti oil price down to $114.97 per barrel Brent below $118 as euro zone, dollar weigh

CAPITALS: Price of Kuwaiti crude oil slipped down by 0.88 US dollars to $114.97 per barrel on Tuesday, compared to $115.85 pb on Monday, Kuwait Petroleum Corporation (KPC) said on Wednesday. Kuwait oil price is continuing to go down despite resurgence in global oil price especially with the World Bank expectations for global economic growth by 3.5 percent in 2012.

The World Bank also forecasted the economic growth in the US and China in 2012-13. The recovery of both nations’ economy will reflect positively on demand for oil in the global market.

In more news, Brent crude futures slipped below $118 on Wednesday as a stronger dollar and fears about the euro zone weighed on prices, while the prospect of further talks between Iran and the West continued to ease pressure on the market.

The dollar was up 0.26 percent against a basket of currencies on Wednesday, helping to push Brent over $1 lower during the session to a low of $117.60 a barrel.

Worries about the euro zone debt crisis flaring up again persisted on Wednesday, as data showed bad loans at Spanish banks were at their highest level since October 1994. The report underscored the challenges still facing the region’s fourth-largest economy.

“Now that we have finished with Greece, the focus is now on Spain. The growth picture is still mixed, with marginally more positive data emerging from the US than the EU,” said Thorbjørn Bak Jensen, an oil analyst at Global Risk Management.

Bak Jensen cited strength in Germany as a sign the outlook for the euro zone was improving.

Brent June crude was down $1.04 cents at $117.74 a barrel at 1354 GMT, after settling little changed in the previous session. Brent tumbled two percent at the start of the week. US May crude shed 19 cents to trade at $104.01, after settling at its highest close since April 2.

The May contract expires on Friday.

Fears about the euro zone debt crisis flaring up again began to ease on Tuesday after a Spanish bill auction was met with strong demand, while further signs of growth emerged from Germany.

Buy 0.4444 Sell 0.4454

Buy 0.003413 Sell 0.00342

Buy 0.0742 Sell 0.0743

Buy 0.07576 Sell 0.07581

Buy 0.7381 Sell 0.73868

Buy 0.005378 Sell 0.005368 Buy 0.006531 Sell 0.006512

Prices in Kuwaiti fils as of April 18, 2012 Courtesy: KAMCO

KSE ends trading with 30.6 point gain

KUWAIT: Kuwait Stock Exchange (KSE) closed Wednesday in the green zone. The price index read 6,268 points at a gain of 30.6 points, while the weighted index came to 417.14 points, an increase of 1.95 points.

Trades came to 6,228 transactions, worth 48,873,320 Kuwaiti dinars, and volume reached 570,515,000 shares. Within the sectors, the top gainer was industrial sector with a hike of 71.7 points.

Gainer share of the day was Al-Aman Investment Company, while the biggest loser was Pearl of Kuwait Real Estate Company.

The top volume stock went to National Ranges Company.

Trading at Kuwait Stock Exchange starts the day in green with 5.9 points, reading 6,243.3 points at 9:35 a.m. Wednesday, while the weighted index came to 416.23 points, up 1.04 points.

Trades came to 1,469 spot transactions, valued at KD 12.6 million and with 144.4 million shares changing hands. -KUNA

Qatar’s QFIB sells Qcon stake for $77 million

A laborer drinks water while harvesting wheat crop at a field in Jhanpur village of the northern Indian state of Punjab April 18, 2012. India’s wheat harvesting could touch a record 90 million tons in 2012, a record output for the second straight year, on favorable weather conditions, Farm Secretary P.K. Basu said. (Reuters)

The IMF also offered a cautiously optimistic view on global growth, which it said is slowly improving as the US recovery gains traction and dangers from Europe recede.

Brent’s premium to US crude fell below $14 a barrel as investors continued to price the prospect of further talks between six world powers and Iran and news about a pipeline reversal in the United States.

In the US the reversal of the Seaway pipeline is expected to help drain a glut of crude around the Cushing, Oklahoma, oil hub where inventories frequently build up. The reversed flow will instead redirect crude to re-

fineries in Texas. Investors were also still pricing in news early this week the pipeline’s flow may be reversed as early as mid-May. US inventories have jumped over 21 million barrels over the past four weeks and the bulk of the stock build was concentrated on the West Coast, a weekly report from industry group the American Petroleum Institute said on Tuesday.

In contrast, there was little change in Gulf Coast inventories, and a drop in supplies on the East Coast the report showed. -Agencies

DUBAI: Qatar First Investment Bank (QFIB) has sold its 41-percent stake in Qatar Engineering and Construction Company (Qcon) for 77 million US dollars, QFIB’s Chief Executive Officer (CEO) said on Wednesday. “We just exited the deal and sold to a Qatari investor,” Emad Mansour said in an interview. He declined to give details about the investor.

QFIB had bought the stake in the oil and gas, petrochemical, fertilizer and power contracting firm in 2009.

QFIB also plans to list on the Doha stock exchange by November, Mansour said. In January, the lender acquired a 15-percent stake in Al Rifai International Holding, a manufacturer of nuts and snacks in the Middle East and Europe. It was the company’s first investment in the food and beverage manufacturing sector.

QFIB has said it hopes to exit its 14-percent stake in Abu Dhabibased Al Noor Medical through an initial public offering in 2012.

QFIB made a net profit of $25.8 million in 2011, up 20 percent compared to 2010, according to the company’s website. Total capital invested to date reached $333 million.

The firm last year acquired a 10.3-percent shareholding in Islamic insurance firm Watania Takaful. It also bought a $16 million stake in Kuwait Energy Company (KEC). -Reuters

Slower Takaful growth prompts strategy rethink DUBAI: Growth of the Takaful or Islamic insurance business is slowing, industry statistics show, increasing pressure on the sector to boost efficiency, roll out new products and explore new markets.Takaful, which has its core markets in the Gulf and Southeast Asia, is one bellwether of consumer appetite for Islamic finance. But profitability has been hit by fierce competition and rapid growth of workforces at Takaful providers in past years.

“A key strategy is to scale up family Takaful,” Shyam Sankar, regional head of insurance sales through bank channels at Bahrain-based Medgulf Allianz Takaful, told Reuters.

The industry’s big challenges include building product awareness and making consumers realize the importance of saving over the long term, he added.

An alternative to conventional insurance, Takaful is based on the concept of mutuality; the Takaful company oversees a pool of funds contributed by all policy holders, but does not necessarily bear risk itself. In their investments, Takaful firms must follow religious guidelines,

Buy 0.07652 Sell 0.07636

including bans on interest and pure monetary speculation, and a prohibition on investing in industries such as alcohol and gambling.

Product categories are similar to conventional insurance, however, with family coverage, equivalent to life insurance, and general coverage, equivalent to property insurance, accounting for most business. The market opportunity is significant, according to a report last year by Swiss RE; conventional insurance accounts for 83.1 percent of all premiums written in Muslim countries, it estimated.

Traditional markets

Growth of Takaful contributions in Saudi Arabia, which provides about half of the total, slowed to 12 percent in 2010, the most recent year for which data is available, from a compound annual growth rate of 38 percent during 2005-2009, a report by consultants Ernst & Young said this week.

Meanwhile growth in Bahrain and Malaysia, regarded as the most well-developed Takaful markets, is also showing signs of flagging, though

it still outpaces conventional insurance.

The most recent data from the central bank of Bahrain shows Takaful premiums grew 20 percent in 2010, far from the 70 percent increase in 2008. Total assets expanded 12 percent in 2010 against 52 percent in 2007.

Bahrain is a major industry hub - the country was the first to deploy regulation specifically designed for Takaful, and it has established a healthy Re-Takaful market, which allows operators to obtain coverage on existing policies to manage their risks.

But Bahrain’s Takaful sector was hit hard by the 2008 global financial crisis, with assets decreasing 35 percent that year, prompting the reorganization of one of its flagship operators, Solidarity Group. Also, the continuing social unrest in Bahrain casts a shadow over its financial businesses in general.

Malaysia has proved more resilient but has followed a similar trend, according to data from that country’s central bank. Takaful assets grew 18 percent in 2010 against 28 percent in 2007.

The deceleration could be hard to reverse

because of shrinking sales force in the industry.

The number of employees involved in general Takaful sales in Malaysia peaked at 32,997 in 2009, when it soared 107 percent from the previous year; but it contracted five percent in 2010, while staffing for the conventional insurance industry fell just two percent.

If these patterns continue, the global Takaful industry could slow to single-digit growth in coming years. But some operators are determined to tap new markets to prevent this.

New markets

Takaful companies are exploring new markets such as Egypt and Jordan; Islamic finance is expected to receive a boost in North Africa from last year’s Arab Spring uprisings, which removed authoritarian governments that discouraged or neglected Sharia-compliant business for political reasons. Bahrain’s Solidarity has moved into Egypt and Jordan. A consortium of Doha-based institutions tapped the Pakistani market by launching Pak-Qatar Takaful in 2006.

Other firms have seen opportunities in mar-

kets such as Lebanon, which posted 102 percent growth in Takaful contributions during 2010, and Indonesia. A report by actuarial consultants Milliman forecasts strong growth for Takaful in southeast Asia, suggesting it could become three times as large as the Middle East by 2015.

Ernst & Young forecasts Saudi Arabia’s share of the global Takaful market will drop to 44 percent this year as newer markets grow faster, and the trend of new markets outpacing traditional ones could continue in coming years.

Other companies are focusing on building size in their domestic markets, which could give them economies of scale.

Ghassan Marrouche, chief executive of Takaful Emarat in the United Arab Emirates (UAE), said his company was expecting doubledigit growth rates in coming years, supported by the launch of several new products including a capital-protected instrument and a “microtakaful” product focused on low-income earners.

“We want to be positioned well in the UAE market before we move outside,” he said. “It is a very dynamic market.” -Reuters

Dubai foreign trade jumps 22% in 2011, Iran up

DUBAI: Dubai’s foreign trade jumped by a record 22 percent in 2011 driven by strong flows with Asia that offset the impact of international sanctions against Iran, the emirate’s traditional trade partner, data from the Dubai Customs showed on Wednesday.The United Arab Emirates (UAE) member saw its foreign trade volume rising to a record 1.1 trillion UAE dirhams (300 billion US dollars).

The figure includes direct, free zone and warehouse trade in the Gulf Arab business hub, which has been gradually recovering from the impact of the 2008-2009 debt crisis.

Dubai Customs Executive Chairman Ahmed Butti Ahmed said the emirate has benefited from market openness and its modern infrastructure, adding strong trade growth was expected to continue this year.

“The (forecast) increase of 20 percent is based on what we achieved in the first quarter of 2012 that’s where we came up with that figure. Demand from different countries is increasing, population is increasing, needs are increasing, it’s natural,” he told reporters after releasing the 2011 numbers.

Asked whether such a prediction was not too optimistic given signs of economic slowdown in emerging economies such as China, one of Dubai’s top trade partners, and sanctions targeting Tehran’s

disputed nuclear program, Ahmed said: “We believe that it will not have that strong impact on us.”

No other detail on first quarter figures were given. Dubai’s direct trade, which makes up 64 percent of the total, soared by 22 percent to 700 billion dirhams in 2011.

Direct imports rose 21 percent to 442 billion dirhams, exports jumped 44 percent to 98 billion, while re-exports grew 18 percent to 161 billion, the data showed. Some 6,000 containers on average leave Dubai’s ports every day.

Re-exports show goods imported to Dubai and then exported to another destination. They also reflect the diversion of trade from elsewhere in response to sanctions on Iran, something the US has increasingly sought to restrict.

Iran up

Dubai’s direct re-exports to Iran grew 29 percent to 31 billion dirhams last year, the fastest growth rate over the past five years, although figures show a marked slowdown in the last three months of 2011, according to Reuters calculation.

“We are in line with United Nations embargo.

Whatever is not allowed to be exported we do not export. We stopped that,” Ahmed told a news conference at the customs’ ship-shaped building.

“There is an impact because the Iranian currency went down and goods became so expensive for people to buy. Plus there are also difficulties in transferring money through banks, that also has a very strong impact,” he said.

The emirate’s total direct trade with the Islamic Republic stood at 36 billion dirhams in 2011, customs said, adding the increase in trade was due to high global gold prices as the metal accounts for a large proportion of the trade.

Other items included goods such as food, clothing, cars, carpets, spare parts, jewelry and diamonds.

It did not give more details. Iran accounts for a fifth of Dubai’s direct re-exports.

With the exception of Dubai, Gulf Arab trade links with Iran are minor. Iran’s energy-reliant economy is reeling from sanctions aimed at stifling its lucrative oil exports.

The International Monetary Fund (IMF) said in May 2011 that sanctions against Tehran existing at that time could shave off 0.2 to 0.7 percent of UAE gross domestic product (GDP) annually.

Dubai, which accounts for nearly a third of the UAE’s GDP, is aiming for economic growth of 4.5 percent this year, up from an estimated expansion of more than three percent in 2011, the emirate’s top official said in February. -Reuters

FILE - The Burj Khalifa is seen in this file photo. Dubai’s foreign trade jumped by a record 22 percent in 2011 driven by strong flows with Asia that offset the impact of international sanctions against Iran, the emirate’s traditional trade partner, data from the Dubai Customs showed on Wednesday, April 18, 2012.

10

ALWATAN DAILY

BUSINESS

thursDAY, april 19, 2012

Japan cuts April Iran oil purchases 77% TOKYO: Japan will slash its crude purchases from Iran by almost 80 percent in April compared to the first two months of the year as buyers comply with Western sanctions, trade sources said.

The cuts, amounting to 250,000 barrels per day (bpd), are the steepest yet by the four Asian nations who buy most of Iran’s 2.2 million bpd of exports, as tightening sanctions make it tough to pay, ship and insure the oil.

The United States and Europe are trying to squeeze the revenues Iran makes from its 2.6 million bpd oil exports to force it to halt a nuclear program they fear will be used to make weapons but which Tehran says is for power generation.

Japanese buyers will load just 75,000 barrels per day (bpd) of oil in April, trade sources said, a drop of 77 percent from the average imports of 322,900 bpd in the first two months of the year. Customs data is not yet available for March imports.

The sources declined to be identified because they are not authorized to talk to the media.

Japan’s biggest buyers of Iranian oil, Showa Shell Sekiyu KK and JX Nippon Oil & Energy Corp, are likely to load four cargoes amounting to 2.25 million barrels in April, the sources said, with shipments arriving this month and next. Both companies declined to comment.

EU measures ban Europe’s insurers, the providers of around 90 percent of the world’s tanker insurance, from providing cover to Iranian oil exports anywhere in the world, and Japanese insurers have also imposed their own

Waiver, reduction

FILE- An oil tanker is moored at an oil loading platform adjacent to an oil refinery in Kawasaki, west of Tokyo, Monday, Feb. 20, 2012. Japan will slash its crude purchases from Iran by almost 80 percent in April compared to the first two months of the year as buyers comply with Western sanctions, trade sources said. (AP)

shipping restrictions.

The EU sanctions on insurance apply to new oil contracts struck since Jan. 23, and to all contracts after July 1. Japan’s Iranian oil buyers are in negotiations to renew annual contracts that run from April through March each year.

Last year, at least 10 tankers a month called

at Iranian ports to lift oil for Japan. In April, three or four tankers are expected to load, traders said.

Japan and South Korea have lobbied for exemptions to allow them to continue shipping reduced volumes of crude, but insurance and shipping executives say a complete ban now

looks likely.

The threat of a cut in Iranian supplies drove oil prices in March to $128 a barrel, their highest level since 2008. Investment bank JP Morgan estimated Iran’s output may fall one million bpd by the end of June as refiners cut imports.

In the second half of 2011, Japan cut between 15 and 22 percent of its oil imports from Iran, which was enough for the United States to grant it a waiver from sanctions. Refiners and traders have continued to cut their annual contracts.

Sources said top importer Showa Shell had reduced the volume of oil it will import from Iran under an annual deal the company renewed in April. One source said the cuts may range between 15 percent to 20 percent from last year’s 100,000 bpd contract, but exact details were not available.

JX Nippon Oil & Energy Corp, Japan’s biggest oil refiner, has not renewed a contract to buy 10,000 barrels per day (bpd) of Iranian crude, which expired in March. JX has another contract for 80,000 bpd of crude from Iran, which was renewed in January.

The Japanese crude buyers succeeded in convincing Iran to widen the force majeure clause in the annual contracts to include sanctions. The clause is usually limited to exempting buyers and sellers from liability due to fires, accidents and natural calamities.

“The main issue was getting Iran to agree to the additional force majeure clause,” a trader with a North Asian refiner said.

China, Japan and South Korea have together cut imports from Iran by 22 percent, or 279,000 barrels per day (bpd), to 940,000 bpd, in the first two months of the year from a year earlier, according to data compiled by Reuters. -Reuters

Alstom signs 50 mln euro Iraq power deal Ford, Lincoln vehicles see GCC Q1 retail sales soar by nearly 40% CAPITALS: Alstom has signed a contract worth approximately 50 million euros with the Ministry of Electricity in Iraq for the rehabilitation of two units at Khor Al Zubair gas-fired power station, located in the Basrah district, south of Iraq. Each unit is based on Alstom’s well proven GT 13 gas turbine technology, originally commissioned in 1977. This was stated in a press release on Wednesday.

The project scope includes the upgrade of the units’ compressors and gas turbines as well as replacement and upgrade of the electrical and control systems.

Equipment for the project will be produced at Alstom’s factories in Europe and at Alstom’s Jebel Ali service unit in Dubai. Alstom is also responsible for installation and comissioning of the unit The rehabilitation will increase the output of each unit by more than 30 megawatts (MW) , thus adding an

extra 60 MW’s to the electricity grid, when compared to their original rating. The upgrade will also increase the power plant efficiency and extend the life of the units significantly. The first rehabilitated unit will be reconnected to the Iraqi electricity network in 2012 and the second unit will be connected before the summer peak of 2013.

This is Alstom’s second rehabilitation project signed in recent times to rebuild Iraq’s energy infrastructure.

Alstom is currently also rehabilitating unit 1 of the Najaf gas-fired power station, south of Baghdad, which when completed will contribute again an output of 60 MW to the Iraqi electricity network. In December 2011, Alstom also signed a contract to build the 728 MW Al Mansuriya gas-fired power plant in the Diyala Governorate, northeast of Baghdad, expected to be in operation by early 2013.

South Africa’s Engen buys Saudi crude to replace Iran SINGAPORE: Engen has turned to top oil exporter Saudi Aramco for additional crude after South Africa’s biggest buyer of Iranian crude halted imports from the Islamic Republic, trade sources said on Wednesday.

Engen, majority owned by Malaysian national oil company Petronas, will replace about half of the Iranian volumes with Saudi supplies and the remaining will be filled up from the spot market, mainly from West Africa, the sources said.

The refiner suspended an annual contract for 50,000 barrels per day of Iranian crude in March, joining a growing list of buyers bowing to Western pressure to cut business dealings with Tehran to isolate the country.

“The (Saudi) volume is on a spot basis and it does not fully cover their Iranian term volume,” a source familiar with the Saudi deal said. Refiners would be able to replace Iranian crude with ease at this point as the market is well supplied with most other Organization of Petroleum Exporting Countries (OPEC) members ramping up output while weak margins and a peak refinery maintenance season curb demand.

Saudi Arabia has ramped up production to prevent oil prices from skyrocketing and pledged to fill the vacuum left by Iran as tightening sanctions from

the United States (US) and European Union (EU) deter buyers from lifting Iranian oil.

Engen is seeking mainly West African grades from the spot market to cover other import needs, they said.

The company had booked the tanker Bouboulina to load 950,000 barrels of Angolan Girassol crude on April 17, a shipping fixture showed. Engen could not be immediately reached for comment.

Petronas

Engen has also stopped buying Iranian crude for its Malacca refinery. Petronas has turned to the Middle East spot crude market to replace the Iranian supply of about 10,000 bpd, sources said.

“Malacca is quite a dynamic refinery as it can take a lot of grades,” a source said, adding that the company can choose from a variety of Middle Eastern grades.

Some of the other grades that Malacca can use include Dubai, Eocene and Egyptian Belayim, a second source said.

Petronas has booked the tanker Stavanger Bay to load on May 8 about 500,000 barrels of Belayim crude from Wadi Feiran, a shipping fixture showed. The tanker is scheduled to head to Malacca. -Reuters

Foreign Exchange reserves on path to exceed $2 trillion by end 2013 CAPITALS: The Gulf Cooperation Council (GCC) countries of Kuwait, Bahrain, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE), possessing 40 percent of proven world oil reserves, have spare oil production capacity now of 2.5 to three million barrels per day and are positioned to meet any possible shortfall in supplies to world markets as a result of possible declines in Iranian exports as a result of sanctions, said the Institute of International Finance (IIF) in a press release on Wednesday.

The IIF is the leading global association of financial services firms with more than 450 member institutions.

It expects that average oil prices will be about $114 per barrel through 2012 with GCC oil production this year at 17.3 million barrels per day, after 16.5 million in 2011.

The IIF forecasts that the GCC’s external current account surplus is likely to rise to a new record of $358 billion this year, up from an estimated $327 billion in 2011.

The Institute stated that a further increase in the stock of net GCC foreign assets is in prospect to take the total to about $1.9 trillion by the end of this year, equivalent to 127 percent of projected gross domestic product (GDP), and then rising to around $2.1 trillion by the end of 2013.

It noted that about 60 percent of the foreign assets of the region are managed by sovereign wealth funds.

Dr. George T. Abed, IIF Senior Counselor and IIF Di-

KUWAIT: Ford’s drive in the Middle East continued accelerating during the first quarter (Q1) of 2012, reporting a 37 percent growth in the Gulf Cooperation Council (GCC) retail sales compared to the same period last year. Increasing retail sales across the Ford and Lincoln lineups in the region further confirm continued increase in consumer preference for the latest models from both brands.

This was mentioned in a press release on Wednesday.

The rise in retail sales was seen across passenger cars, which grew by more than 25 percent, as well as the utility vehicles range, which registered a 50 percent growth, with the main performers being Ford Fusion, Taurus, as well as the Ford Edge, Escape, Explorer, Expedition and F-150. This upbeat Q1 growth follows the best ever year for Ford in the region, with full year sales for 2011 up by 50 percent on 2010.

“This is a remarkable start to the year

for Ford, with more and more customers looking to Ford and Lincoln products for more value and more car for their money,” said Hussein Murad, Ford Middle East’s director of Sales. “Our sales reflect the growing recognition and demand for our vehicles as customers see the great design and segment leading fuel-efficiencies together with industry-leading safety and convenience technologies brought to them in an affordable package with outstanding quality.”

Retail sales in Saudi Arabia shot up by 50 percent while Kuwait remained vibrant during the first quarter, thanks to Expedition and Explorer. Total Q1 sales in the United Arab Emirates (UAE) increased by 60 percent over the same period last year, while Bahrain noted a 55 percent boost in total sales, Qatar and Oman each posted a growth of about 40 percent.

“Our new models continue to deliver great results as clearly they touch upon what the GCC customer really wants:

quality, great looks, outstanding interior space and comfort and unique technologies that are affordable. These results prove that Ford’s efforts in delivering these elements are truly appreciated by our growing customer base,” added Murad.

With combined global success, Ford Motor Company posted its best March US sales month since 2007 - with the Ford Fusion recording its best month ever, Ford Focus and Ford Edge achieving their best March ever and the F-Series showing the strongest March sales in five years.

Total US company sales totaled 223,418 vehicles for March, a five percent gain over year-ago levels. Retail sales increased 11 percent for the month. For the first quarter, Ford Motor Company’s sales were up nine percent versus year-ago levels, totaling 539,247 vehicles sold. The increases were driven by the popularity of Ford’s most fuel-efficient models posting record sales months.

Audi to buy superbike maker Ducati for 860 million euros CAPITALS: Volkswagen’s (VW) Audi unit has agreed to buy thoroughbred Italian motorcycle maker Ducati for about 860 million euros (1.12 billion US dollars) including debt, two people familiar with the matter told Reuters.

The deal allows VW chairman Ferdinand Piech, who has long coveted Ducati and himself owns one of their superbikes, to make up for a missed opportunity nearly 30 years ago to buy the maker of the fire-engine red 1199 Panigale, which boasts “the most powerful twin-cylinder production engine on the planet”.

One source said Ducati’s debt was well below 200 million euros in an acquisition

analysts said lacked obvious benefits for premium carmaker Audi and did little but polish Piech’s reputation as a collector of rare and exotic brands. “The Ducati purchase is driven by VW’s passion for nameplates rather than industrial or financial logic,” said Arndt Ellinghorst, analyst at London-based Credit Suisse.

Ducati, which has won 13 rider’s Superbike World Championships since 1988, will increase the VW group’s brand portfolio to 12 and extend Audi’s longstanding rivalry with Bayerische Motoren Werke to superbikes. It was Piech who piloted VW’s expansion to an 11-brand entity covering fuel-efficient city cars to

IIF sees rising GCC oil production rector for Africa and the Middle East, thanked the DIFC for hosting a press conference today on the release of the IIF’s GCC report. He said, “The prospects for the GCC are impressive, yet there are clearly risks. At a most general level, there is the issue of the impact on the GCC should turbulence in other Arab countries be prolonged.”

He emphasized, “Other risks from the sanctions on Iran indicate ambiguous outcomes. On the one hand, a large drop in Iran’s oil exports, but in the absence of a military confrontation, suggests an upside risk, since it would require significantly higher oil output from the GCC countries, raising the growth rate and lifting hydrocarbon receipts and government spending. However, an escalation of the crisis into a military conflict with Iran, even without necessarily the involvement of the GCC countries themselves, could bring about untold damage to the economies of the region, as such a conflict could easily spread.”

Dr. Garbis Iradian, IIF Deputy Director, Africa and Middle East Department, stated, “We are forecasting some moderation in overall 2012 growth for the GCC at 4.9 percent after the exceptional rise of 6.9 percent last year. The average masks significant variations in prospects for individual countries. Qatar, Oman and Saudi Arabia will continue to be the strongest performers. Saudi Arabia is expected to see growth of about 5.0 percent driven by the continued sizable increase in crude oil production and the lag effect of the sharp increase in public spending (26 percent) of last year. The modest inflationary pressures in Saudi Arabia will persist, as they reflect local housing

bottlenecks and stronger domestic demand.”

Dr. Iradian added, “In the UAE, we expect overall growth to moderate to 3.2 percent in 2012 from an estimated 4.7 percent in 2011. Average crude oil production in Abu Dhabi is expected to increase by 3.5 percent in 2012, compared with an increase of nine percent in 2011.

Continued higher oil prices and fiscal Surpluses have encouraged Abu Dhabi’s Executive Council to press ahead with several of its large projects this year. This may more than offset a possible weakening of private sector investment and result in non-hydrocarbon growth of 3.1 percent in 2012. In contrast, we expect Dubai’s real growth to decelerate from 3.2 percent in 2011 to 2.6 percent in 2012 as a result of the weaker global prospects and the sanctions on Iran, which would adversely impact trade activity. Dubai is more vulnerable to global economic developments than Saudi Arabia, Qatar, Kuwait, and Abu Dhabi due to its high debt, its diversified economy, and its strong links to global trade. However, Dubai’s excellent infrastructure and its prime location as a global hub for trade and tourism should continue to underpin diversification and robust growth over the medium term.”

With regard to financial institutions, the IIF report stressed that GCC banks remain well capitalized and profitable. The balance sheets of banks in the region have been strengthened as a result of the strong economic performance in recent years, high government participation in banks (ranging between 13 percent in Kuwait and 52 percent in the UAE), and improvement in regulation and supervision. The average capital adequacy ratio is above

40-tonne trucks.

“The purchase does have a trophy feel to it, in the sense of something you might mount up on the wall next to the stag you shot last year,” said an auto industry analyst, who himself drives a Yamaha R1 superbike. When exclusive Italian superbike rival MV Agusta was put on the block late in 2009 by a Harley Davidson desperate to sell, Piech told Reuters he only had eyes for Ducati. Audi and Investindustrial may agree to withhold the exact purchasing price in the statement, which they plan to publish on the eve of VW’s annual shareholders’ meeting in Hamburg, one of the sources said. -Reuters

15 percent for every banking system in the region, although variations among individual banks are at times significant. While nonperforming loan (NPL) ratios are in the low single digits, they remain relatively high in Kuwait and the UAE at close to eight percent.

The ratios of banks’ provisions to potential losses associated with non-performing loans (NPL) are high in Saudi Arabia, Oman and Qatar, but are below 60 percent in Bahrain and Kuwait.

Placing oil and gas developments in the region in perspective, Dr. Abed noted, “Economic activity in the heavily oil-based economies of the six countries continues to be driven by buoyant government spending, financed by surging oil and gas revenues and setting the pace for private sector activity. As a measure of the public sector’s contribution to aggregate demand, the non-hydrocarbon government deficit averaged 27 percent of GDP and 60 percent of non-hydrocarbon GDP in 2011.”

Dr. Abed added, “Government spending since 2002 has grown at an average annual nominal rate of 14.5 percent, driving up the breakeven (Brent) price of oil that would balance these countries’ budgets. The breakeven prices have risen from around $30 per barrel in 2003 to $80 per barrel for Saudi Arabia and about $90 per barrel for the UAE in 2011. While for the principal oil producers in the region breakeven prices remain comfortably below prevailing market levels, the unrelenting rise in and the near irreversibility of government spending could expose the fiscal position to undue risk because of the historically high volatility of oil and gas prices.”

KAMCO Research

declared from discontinued operations.

KSE Most Active Stocks for the Month

Regarding FY-11 earnings, 160 companies out of 203 announced their results where aggregate earnings excluding the Non-Kuwaiti Sector decreased 23% to KWD 1.56 bn from KWD 2.03 bn; however, adjusting for the one time gains recorded by Zain and NMTC, aggregate earnings would have increased 2.1% to KWD 1.27 bn from KWD 1.23 bn. Tough market conditions during 2011 were the main reason behind company performance as credit remains tight and the outlook continues to be tainted. Kuwaiti banksʼ 2011 aggregate earnings were down 1.7% to KWD 565.5 bn from KWD 575.3 bn on the back of higher provisioning and tight credit conditions. Dividends for 2011 showed positive growth from 2010 as aggregate dividends excluding the Non-Kuwaiti Sector and Zainʼs one-time gain grew 11.7% to KWD 319.7 mn in 2011 from KWD 286.2 mn in 2010. This increase was supported by dividends from the real estate sector which nearly tripled, posting a whopping 186.8% rise in 2011 to reach KWD 30.7 mn from KWD 10.7 mn in 2010. Zain has been excluded from the analysis due to the one off gain witnessed in 2010 from the sale of Zain Africa which resulted in a KWD 0.200 dividend declared from discontinued operations.

BUSINESS

Volume (000 shares)

Value (000 KWD)

Close (KWD)

Abyaar Real Estate Development Co.

904,200

ALWATAN DAILY 41,852

Gulf Finance House

652,000 THURSDAY, APRIL 19,40,439 2012

110.062

Int'l Financial Advisors Co.

485,480

0.044

28,621

0.052

Kuwaiti bourse sees 8.67% rise in traded value in March KAMCO Research Al-Safwa Group Co. (Holding)

477,360

9,972

0.020

Hits Telecom Holding Co.

437,040

39,739

0.108

Source: KAMCO Research

KSE Most Active Stocks for the Month

KSE Best Return Performers note on renewed concerns Close on the sidelines ahead M-T-M of parliamentary elections. The instability in Kuwait dragged the Kuwaiti bourse to a (KWD) seven and% aChg 904,200 0.044 half year low during 41,852 the first week of trading to reachEquipment its lowestHolding level since with little Co. August 2004 0.110 61.76% buying interest among investors. However the bourse recovered its losses as 652,000 40,439 0.062 in February, Al Salam Group Holding Co. 0.265 54.07% investors spike in risk appetite was evident with the surge in trading indicators and market 485,480 28,621 Al-Argan R.E.During Co. performance resulting in the KSE Price0.052 Index to break theInternational 6,000 mark. the0.174 majority47.46% of February, individual and small investors continued to trade small cap stocks pushing the Kuwaiti Palms Agro Production Co. 0.114 32.56% 477,360 9,972 0.020 Bourse to new highs not witnessed in months. In addition, upbeat earnings from major banks Al Safat Investment Co. 0.100 29.87% 437,040 0.108coupled with the parliamentary elections held also helped spur buying39,739 by short term traders Source: KAMCO Research added to upbeat investor sentiment.

KSE Worst Return Performers

During Q1-12, the Kuwaiti Bourse began January on a negative Volume Value Close regarding the political environment as local investors remained (000 shares) (000 KWD) (KWD)

M-T-M % Chg

2,850 Kuwait Business Town R.E. Co.

0.018

(35.19%)

Investors Holding Group Co.

0.013

(32.43%)

2,750 Al-Aman Investment Co.

0.026

(23.53%)

2,800

Arab Real Estate Co.

0.035

Al-Ahlia Holding Co.

(31.00%)

0.013

2,700

(23.53%)

2,650

KAMCO Research

2,600 2,550

29.3.12

1.3.12

15.3.12

2.2.12

16.2.12

5.1.12

19.1.12

8.12.11

22.12.11

24.11.11

10.11.11

27.10.11

13.10.11

29.9.11

15.9.11

1.9.11

18.8.11

4.8.11

21.7.11

2,500

1,200 1,125 1,050 975 900 825 750 675 600 525 450 375 300 225 150 75 0

Vol. Traded (shr. mil.)

Close (KWD)

2,900

7.7.11

M-T-M

23.6.11

Close

KUWAIT: The following is a report prepared (KWD) by Kuwait % Chg Projects Company (KIPCO) Asset Management Company Equipment Holding Co. 0.110 61.76% (KAMCO) Research that analyzes the performance of the Al Salam Group Holding Co. during March 0.265 54.07% Kuwait Stock Exchange (KSE) 2012 in addiAl-Argan International R.E. Co. 0.174 47.46% tion to assessing the latest key economic and market developments and their effect on stock Palms Agro Production Co.the performance 0.114of the 32.56% market.

Speculations targeting29.87% small Al Safat Investment from Co. local investors 0.100 cap stocks was the headline of the month pushing the KuSource: KAMCO Research waiti bourse higher to reach fresh eight month highs. The KSE Weighted and KAMCO TRW Indexes registered positive gains during March rising 2.64 percent and 1.96 percent to close at 420.21 and 2,653.8 points, respectively. The Kuwaiti bourse ended the month as the second best performer in the GCC region following Saudi’s Tadawul Index helping push the KSE Weighted and KAMCO TRW Indexes Q1 2012 performance higher to 3.6 percent and 2.65 percent, respectively, with volatility marginally improving for the KAMCO TRW Index to 4.26 percent from a previous 4.53 percent 3 recorded in February. Trading indicators were mixed as volume traded fell 5.57 percent to 10.3 billion shares from 10.9 KAMCO Research billion in February 2012 while value traded was up 8.67 percent to 937 million Kuwaiti dinars in March 2012 from KD 862 million in Februart 2012. Despite the market gaining during March, the market breadth skewed towards the losers, with an advancer-to-decliner ratio of 75-to-81, while 47 stocks remained unchanged from last month.

The Kuwaiti Bourse began the month of March bullish as it extended last month’s gain to reach a fresh eight-month high on the first trading day supported by elevated volumes on the back of continued speculation, which is dominating the market recently, in addition to notable movements on some investment companies, and collecting deals on some low price stocks. Small-cap stocks have supported the index in the recent rally witnessed however speculators targeted small investment companies to book their profits. Local investors are speculating that the market may witness further capital inflows from foreign investors into the market as the Kuwait Stock Exchange lags behind its peers in the

Source: KAMCO Research

Gulf Cooperation Council (GCC) on a year to date basis. Bourse began January on a negative note on renewed conOn the economic front, Kuwaitʼs state budget for the 2012/2013 fiscal year is expected to total Furthermore, the Capital Markets Authority (CMA) stated cerns regarding the political environment as local investors around (USD 79 bn). has Thebeen estimate revenues of around KWD 14 bn,elections. with during the KWD month 22 thatbn significant progress made assumes remained on the sidelines ahead of parliamentary oil contributing to KWD 12.8 bn.

The projection is based on an oil price of USD 65 per barrel. towards creation of the new KSE Company that will lead to The instability in Kuwait dragged the Kuwaiti bourse to a theand plan assumes a budget deficit, oiland prices itsAlthough privatization Initial Public Offering (IPO).

A state-global seven a halfare yearcurrently low duringtrading the first well week above of trading USD 100 per barrel and therefore Kuwait could well post a surplus.

The government stated ment by the incorporating committee for Kuwait Stock Exto reach its lowest level since August 2004 with littlethat buying for the first nine of its fiscal year, the among country recorded a budget surplus of change Company (KSE)months of the CMA said2011/12 the management interest investors.

However in February, the bourse 13.2 bn. Moreover, inflation rates Kuwait reached on as aninvestors annualspike basis FebruaryofKWD the KSE continues to provide information to thein advisers, recovered 3.8% its losses in in risk appetite was mandated the CMA to prepare KSE for the IPO. The onevident with of the an surge in trading and market 12 and by were up 0.2% fromtheJanuary-12 mainly the back 8.6% rise inindicators food prices.

In advisers are currently working on their due and performance resulting the KSE Price Index break the other news, Kuwait reported that it diligence would launch an initial tender forin construction of a to second analysis andof valuation of KSE assets.

Once this first phase mark.KWD During700 the majority February, terminal its international airport, a project worth6,000 around – 800 of mn (USD individual 2.5 - 2.9and isbn). concluded, the legal establishment process that includes small investors continued to trade small cap stocks pushing The project should be finished by late 2016. the submission to the relevant authorities for the creation of the Kuwaiti Bourse to new highs not witnessed in months. the new KSE will need to be completed. Furthermore, the In addition, upbeat earnings from major banks helped spur government named three new commissioners to Kuwait’s buying by short term traders coupled with the parliamentafledging CMA, ending a protracted dispute 2 ry elections held also added to upbeat investor sentiment.

During the first quarter (Q1) of 2012, the Kuwaiti On the economic front, Kuwait’s state budget for the

M-T-M % Chg

Kuwait Business Town R.E. Co.

0.018

(35.19%)

Investors Holding Group Co.

0.013

(32.43%)

Al-Aman Investment Co.

0.026

(23.53%)

Arab Real Estate Co.

0.035

Al-Ahlia Holding Co.

Worst Performers KAMCOKSE TRW IndexReturn 52-Week Performance Relative to Volume

9.6.11

KSE Best Return Performers Kuwait Stock Exchange Market Review

26.5.11

Source: KAMCO Research

12.5.11

Hits Telecom Holding Co.

28.4.11

Al-Safwa Group Co. (Holding)

14.4.11

Int'l Financial Advisors Co.

31.3.11

Gulf Finance House

KAMCO TRW Index Value

Abyaar Real Estate Development Co.

Close (KWD)

3

0.013

(31.00%)

(23.53%)

2012-2013 fiscal year is expected to total around KD 22 billion (79 billion US dollars). The estimate assumes revenues of around KD 14 billion, with oil contributing to KD 12.8 billion. The projection is based on an oil price of $65 per barrel. Although the plan assumes a budget deficit, global oil prices are currently trading well above $100 per barrel and therefore Kuwait could well post a surplus. The government stated that for the first nine months of its 2011-2012 fiscal year, the country recorded a budget surplus of KD 13.2 billion. Moreover, inflation rates in Kuwait reached 3.8 percent on an annual basis in February 2012 and were up 0.2 percent from January 2012 mainly on the back of an 8.6 percent rise in food prices. In other news, Kuwait reported that it would launch an initial tender for construction of a second terminal of its international airport, a project worth around KD 700 - 800 million ($2.5 - 2.9 billion). The project should be finished by late 2016.

Regarding fiscal year (FY) 2011 earnings, 160 companies out of 203 announced their results where aggregate earnings excluding the Non-Kuwaiti Sector decreased 23 percent to KD 1.56 billion from KD 2.03 billion; however, adjusting for the one time gains recorded by Zain and NMTC, aggregate earnings would have increased 2.1 percent to KD 1.27 billion from KD 1.23 billion. Tough market conditions during 2011 were the main reason behind company performance as credit remains tight and the outlook continues to be tainted. Kuwaiti banks’ 2011 aggregate earnings were down 1.7 percent to KD 565.5 billion from KD 575.3 billion on the back of higher provisioning and tight credit conditions. Dividends for 2011 showed positive growth from 2010 as aggregate dividends excluding the Non-Kuwaiti Sector and Zain’s one-time gain grew 11.7 percent to KD 319.7 million in 2011 from KD 286.2 million in 2010. This increase was supported by dividends from the real estate sector which nearly tripled, posting a whopping 186.8 percent rise in 2011 to reach KD 30.7 million from KD 10.7 million in 2010. Zain has been excluded from the analysis due to the one off gain witnessed in 2010 from the sale of Zain Africa which resulted in a KD 0.200 dividend declared from discontinued operations.

KAMCO Research

Trading Prices of Kuwait Exchange Trading Prices of Kuwait StockStock Exchange

Trading Prices of Kuwait Stock Exchange Date of Closig Prices: 19/04/2012 Date of Closing Prices:

Date of Closing Prices: 17 / 04 / 2012 For more information please contact “Global” at (+965) 180 42 42 or www.globalinv.net For more Information please contact "Global" at (+965) 180 42 42 or www.globalinv.net Global General Index KSE Price Index Company

Ÿ Ÿ

High

Low

National Bank Gulf Bank Commercial Bank Ahli Bank Ahli United Bank International Bank Burgan Bank Kw Finance House Boubyan Bank

1,080 430 610 890 280 425 760 600

1,060 425 600 870 275 420 740 590

Kw Investment Commercial Facilit.

Int'L Financial Adv. National Invest.

Kw Projects Ahlia Holding Coast Invest.

Int'L Investor Securities House Ind. & Fin. Inv. Securities Group Int'L Finance MARKAZ KMIFIC Aref Inv. Group Al AMAN Inv. ALOLA Inv. ALMAL Inv. Gulf Inv. House A'ayan Leasing Bayan Inv. GLOBAL Inv. Osoul Inv. KFIC KAMCO Nat. Int'l Holding Housing Finance MADAR Al Deera Holding Al Safat Inv. Al Salam Group Ekttitab Holding Al Qurain Holding Sokouk Holding Al-Madina Finance NOOR Tamdeen Inv. KW BH Int'l Exch.

Taiba Kuwaiti Holding Kuwait Syrian Strategia Kuwait China Inv. Manafae Inv. Gulf North Africa Amwal Al Masar Al-Imtiaz

106 260 152 315 63 104 120 28.5 148 53 29 36.5 64 290 69 40.0 242.0 104.0 74.0 184 66 52 51 110

104 255 150 305 61 102 116 28.5 146 52 29 36.0 64 275 60 39.0 228.0 100.0 71.0 178 65 52 50 108

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Global Index - Banking

ź

Global Index - Investment

Kuwait Insurance Gulf Insurance Ahlia Insurance Warba Insurance Kuwait Re-Ins. First Takaful Ins. Wethaq Insurance

-

Global Index - Insurance

Kuwait R.E. United R.E. National R.E. Salhia R.E. Pearl R.E. Tamdeen R.E. Ajial R.E. Massaleh R.E. Arab R.E. Union R.E. ERESCO Mabani INJAZZAT RE Inv. Holding Grp Int'L Resorts Commercial R.E Sanam R.E. Aa'yan R.E Aqar Kuwait R.E Holding AL Mazaya Al Dar National R.E Themar Int'L Holding Grand R.E Projects Tijara & R.E Invest Al Tameer Arkan Al-Kuwait R.E Al Argan Int'L Abyaar Munshaat First Dubai KBT Manazel REAM Mena Real Estate Al Moudon Intl. R.E Markaz Real Estate Kuwait Remal R.E

56 114 128 234 29.0 36.0 97 1,020 76 16.5 68.0 95 59 68 84 19.5 45.5 70 43.5 39.5 21.5 35 57 335

Global Index - Real Estate

Nationl Ind Ind. Group Pipes Ind. & Oil Kuwait Cement Refrigeration Ind. Gulf Cables & Elec.

Heavy eng. & Ship.

Marine Services Portland Cement

Ÿ ŷ ŷ ŷ ŷ Ÿ Ÿ ŷ Ÿ

234 124 470 1,280 290 870

ŷ ŷ ŷ ŷ ŷ ŷ Ÿ ŷ ŷ ŷ ŷ Ÿ Ÿ ŷ ŷ ŷ ŷ Ÿ ŷ ŷ ŷ ŷ ŷ ŷ Ÿ ŷ ŷ ŷ Ÿ ŷ Ÿ ŷ ŷ ŷ Ÿ ŷ Ÿ ŷ ŷ ŷ Ÿ ŷ ŷ ŷ ŷ Ÿ Ÿ

-

ŷ ŷ ŷ ŷ ŷ

56 110 124 234 27.5 35.5 95 990 74 14.5 64.0 95 54 66 83 19.0 42.5 64 42.0 39.0 20.5 32 53 330

Ÿ ŷ ź Ÿ ŷ ŷ ŷ ŷ Ÿ Ÿ Ÿ ź Ÿ Ÿ ź ź Ÿ ŷ ŷ Ÿ Ÿ ŷ ŷ Ÿ ź ŷ ŷ ŷ ŷ ź ŷ ŷ ŷ ŷ ŷ ŷ Ÿ

226 122 450 1,240 290 830

Ÿ Ÿ ŷ ŷ ŷ ŷ ŷ

Last Close 179.56 6,268.00 Last Prev.

Close Close 1080 430 790 610 870 280 425 740 600 320.33

1060 430 790 610 870 275 420 740 590 321.13

Previous Close Change 178.75 0.80 6,237.40 30.60 Trading Activity Chng Volume Tran. Value(KD) 20 5 5 10 0.80-

DTD 0.45% 0.49%

Last Bid

Last Ask

MTD YTD 0.14% -1.99% 1.67% 7.81% Div. Annual Close Yield High Low P/E

922,500 760,000 230,000 370,000 5,680,000 2,510,000 1,980,000 1,390,000 13,842,500

32 19 6 19 56 34 66 32 264

984,650 325,250 138,050 327,400 1,562,200 1,054,300 1,485,150 823,350 6,700,350

1,060 425 590 880 275 420 750 590

1,080 430 600 890 280 425 760 600

3.8% 0.0% 0.0% 2.5% 1.7% 1.8% 2.4% 2.0% 0.0% 2.0%

1,220 510 800 680 920 285 480 900 600 326.42

1,040 425 700 600 790 236 410 720 530 314.20

15.26 36.98 1240.61 18.04 33.01 26.79 12.99 27.47 130.71 19.49

4 9 61 45 77 123 19 3 69 99 42 4 4 35 2 53 136 121 168 28 8 1 17 62

104 255 148 310 61 100 118 28.5 146 52 29 35.5 62.0 280 39.0 234.0 102.0 72.0 180 29 73 65 52 50 108.0

106 260 150 315 62 230 104 120 102 148 53 37.0 65.0 285 64 39.5 236.0 104.0 73.0 182 295 30 66 54 52 110.0

0.0% 0.0% 0.0% 0.0% 6.3% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2.1% 0.0% 0.0% 0.0% 0.0% 0.0% 3.8% 3.9% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2.4%

112 285 67 182 345 18.5 69 25.0 130 36.0 230 122 120 102 52 35.5 148 65 35 71 44.0 48.5 70.0 26.0 295 65 39 51 47.5 104 270.0 130.0 25.0 33.5 96.0 29.0 190 310 114 32 89 73 60 59 64 42.5 140.0 85.99

104 255 40 144 295 11.5 50 25.0 130 21.0 230 99 102 50 52 24.0 106 47 21 71 28.5 48.5 64.0 26.0 242 51 36 51 26.0 61 99.0 19.5 19.0 16.0 38.0 29.0 154 255 114 26 58 50 51 47 64 42.5 106.0 74.96

16.47 9.65 0.00

104 260 52 148 305 13.0 61 25.0 130 25.0 230 104 116 102 52 26.0 148 52 26.5 71 35.0 48.5 64 26.0 295 65 38.5 51 39.0 100 236.0 102.0 22.0 22.5 74.0 29.0 178 285 114 28.00 75 65 52 49 64 42.50 110 81.91

104 260 52 148 305 13.0 60 25.0 130 25.0 230 102 112 102 52 26.0 148 51 26.5 71 35.0 48.5 64 26.0 270 65 38.5 51 37.5 100 226.0 102.0 22.0 22.5 73.0 29.0 174.0 285 114 28.00 75 64 52 49 64 42.50 106 81.39

25 1.5 10.0 1.0 4.0 Ex-D 1 4 0.52

100,000 130,000 2,820,000 1,730,000 6,400,000 8,020,000 500,000 400,000 6,540,000 6,240,000 5,520,000 400,000 160,000 600,000 80,000 10,640,000 5,300,000 4,700,000 13,360,000 680,000 560,000 40,000 1,000,000 2,180,000 78,100,000

1,190

10,440 33,550 424,920 537,550 397,760 822,080 58,680 11,400 954,920 326,000 160,080 14,560 10,240 169,450 5,160 417,800 1,246,360 479,560 967,480 122,240 36,440 2,080 50,400 239,680 7,498,830

300 520 500 134 220 122 40.50 43.48

300 520 500 134 220 122 40.50 43.48

Ex-D Ex-D Ex-D -

-

-

-

255 500 124 30.0

300 485 540 144 43.0

6.7% 3.8% 5.0% 3.7% 0.0% 0.0% 0.0% 4.7%

325 610 540 148 220 134 40.5 44.91

13.38 280 13.67 520 11.92 450 21.80 102 63.13 220 102 40.5 64711.96 13.38 42.22

56 110 122 236 32.5 234 118 91 36.0 110 96 990 75 15.0 65.0 94 54 67 74 36.0 84 19.5 87 17.5 44.0 68 75 160 41.5 28.5 39.5 17.5 20.5 134 134 220 53 340 58.42

55 110 124 232 32.5 234 118 91 35.0 110 95 970 76 14.5 61.0 95 55 65 74 36.0 83 19.0 87 17.5 41.5 69 75 160 41.5 28.5 40.5 17.5 20.5 134 134 220 53 340 57.57

1 -2 4 -

1.0 Ex-D 1 20 -1 0.5 4.0 -1 -1 2 1 0.5 2.5 -1 1.0Ex-D 0.86

3,360,000 2,260,000 1,340,000 40,000 320,000 1,120,000 2,120,000 1,245,000 200,000 47,920,000 38,200,000 2,840,000 2,280,000 3,240,000 320,000 2,880,000 11,200,000 1,760,000 39,840,000 1,920,000 7,280,000 1,280,000 1,240,000 370,000 174,575,000

37 24 32 2 4 14 32 47 5 242 211 20 49 62 6 28 106 8 188 18 53 13 27 28 1,256

188,160 252,600 169,400 9,360 9,040 40,120 204,440 1,248,000 15,080 752,520 2,500,000 269,800 129,840 217,560 26,760 54,960 500,120 119,720 1,708,240 75,400 152,480 43,640 68,720 123,600 8,879,560

55 112 128 232 28.5 230 120 86 35.5 95 1,000 75 15.5 67.0 94 56 66 74 34.0 83 18.5 87 44.5 64 70 152 42.5 38.5 20.5 35 54 335

56 114 130 234 31.0 236 138 36.0 97 1,020 76 16.0 68.0 95 57 67 79 37.0 84 19.0 89 45.0 66 76 170 43.0 39.5 21.0 130 56 340

0.0% 4.4% 0.0% 6.4% 0.0% 3.4% 0.0% 7.7% 0.0% 6.4% 0.0% 1.0% 0.0% 0.0% 0.0% 5.3% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 6.7% 6.3% 0.0% 0.0% 0.0% 0.0% 0.0% 3.7% 0.0% 0.0% 0.0% 0.0% 1.0%

63 118 152 246 37.5 250 130 100 52.0 120 104 1,080 85 20.0 68.0 97 75 73 90 38.0 92 23.0 91 17.5 45.0 70 80 174 52.0 39.5 40.5 28.5 25.5 134 35 220 70 480 58.42

47 97 108 200 28.5 224 114 77 27.0 108 94 840 62 11.0 35.0 77 54 52 74 33.0 59 13.5 87 17.5 31.0 57 64 116 27.5 22.0 25.0 17.5 15.0 134 31 220 49 270 49.06

228 120 450 122 1,260 290 134 880

224 118 450 122 1,260 290 134 880

4 2 Ex-D

8,800,000 8 800 000 760,000 150,000 152,500 10,000 655,000

129 30 5 17 1 42

2,028,560 2 028 560 93,720 68,800 192,900 2,900 565,750

228 120 445 122 1,240 285 130 860

232 124 465 132 1,260 290 140 870

0.0% 0 0% 0.0% 3.2% 0.0% 5.8% 3.4% 0.0% 7.5%

260 136 470 158 1,480 345 222 920

214 116 415 122 1,260 290 134 660

-

-

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1 2 4 1 -

05 / 01 / 2012

For more Information please contact "Global" at (+965) 180 42 42 or www.globalinv.net

14.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 46.00 0.00 0.00 0.00 67.72 0.00 0.00 0.00 0.00 13.87 0.00 0.00 0.00 18.17 22.52 16.18 573.07

0.00 0.00 5.49 14.09

50.32 13.40 16.33 0.00 22.83 9.61 15.16 24.12 30.00 0.00 16.56 393.14

105.54 0.00 13.74 8.00 185.44 0.00 0.00 26.88 439.41 0.00 0.00 19.57

21.01 7.29 13.08 16.78 31.17

Shuaiba Industrial

-

Metal Collecting Global General Index 112 360 Kuwait Foundry KSE Price Index

226 ACICO 90 United Industries Company High 630 Boubyan Petroch.

1,140 Gulf Glass National Bank Gulf Bank 495 Hilal Cement Commercial Bank 770 Al Kout Ind. Project Ahli Bank 640 K-PAK Ahli UnitedMaterial Bank 850 Building International 248 310 Nat. Ind.Co.Bank 460 Burgan BankHolding Equipment 150 Kw Finance House Consumer Industries 890 Boubyan Bank 590 Kuwait Gypsum Global Qurain Index - Banking 214 Salbookh Trading Kw Investment - IKARUS 194 265 Commercial Facilit.

Boubyan Int'LAdv. Ind. 4175 Int'L Financial 174 National GlobalInvest.

Index - Industrial Kw Projects 300 National Cinema Ahlia Holding 13.5 Kw Hotels Coast Invest.

53 405 Agility Int'L Investor Market Complexes Securities House ZAIN 750 Ind. & Fin. Inv. 76.0 Safat Energy Securities Group Educational Group Int'L Finance Indep. Petroleum 110 MARKAZ 172 National Cleaning KMIFIC Sultan - 112 Int'L Inv. Center Group 112 Arabi Aref Inv.Group Group City Group Investment Dar - Tele.

2,400 AlWataniya AMAN Inv. Kw Gulf Link 130 ALOLA Inv. 110 Kw Cable ALMAL Inv. Vision 50 Automated System - Gulf Inv. House NAPESCO - A'ayan Leasing KCPC 295 32.5 Bayan Inv. K.S.H Inv. GLOBAL EyasInv. Osoul Hits Telecom GULFINVEST - 108 KFIC - 18.5 Al Safwa Holding KAMCO - Human Soft Int'l Leasing & Holding Inv. -78 Privatization Nat. Int'l Holding -89 Nafaaes Holding - Housing Finance National Slaughter MADAR 118 Aref energy 26.5 AlSafwan Deera Holding AlGulf Safat Inv. 72.0 Petroleum 122.0 AlGulf Salam Group 24.5 Franchising 41.0 Ekttitab Credit Holding & Collection AlNational Qurain Holding - 22.0 Ranges Sokouk BurganHolding Well Drilling 16.5 Al-Madina 40.0 IFA H&R Finance 410 NOOR Combinted Group 1,700 Tamdeen Inv. 160 Jeeran Holding 88 KW BH Int'l Exch.

Palms Agro Taiba Kuwaiti Holding Safat TEC Kuwait Syrian Mushrif Trading 88 Strategia 340 UPAC 53 Kuwait China Inv. 305 ALAFCO Manafae Inv. Al-Muwasat - Gulf North Africa Mashaer Holding 305 Amwal Fuel AlOula Masar - 265 Future Comm.

Al-Imtiaz 132 114 Hayat Comm.

Global Index - Investment 65 Mubarrad Transport Kuwait Insurance -Kuwait Resorts Gulf Insurance - Advanced Technolgy Ahlia Insurance 350 Yiaco Medical 112 Warba Insurance Al Jazeera Airways 460 - Kuwait Re-Ins. Al Soor Fuel First Takaful 108 Future Kid Ins. Wethaq Insurance 295 KGL

112 źŷ 355 źŷ 224 ŷ 85 Ÿ Low 620 ŷ 1,120 - ŷŷ 490 - ŷŷ 770 - ŷŷ 640 - źŷ 800 - Ÿ 248 310 ŷŸ 455 146 źŸ 880 - źŷ 580 - ŷ 212 źŷ - - ŷŷ 192 źŷ 260 4075 źŷ 170 źŸ 300 - Ÿŷ 12.5 ŷ - ŷ 52 ź 400 ŷ ŷ - ŷ - ŷ 730 Ÿ ŷ 74.0 Ÿ - ŷ - ŷ - ŷ 108 - ŷŷ 164 - ŷŸ - 104 ŷŷ 108 - ŷź - - ŷŷ 2,340 ŷŸ 122 ŷŸ 108 49 - źŷ - - ŷŷ - - ŷŷ 290 ŷŷ 31.0 - ŷŷ -ŷ - 102 ŷŸ - 17.5 ŷŸ - - ŷŷ -75 ŷŸ -89 ŷŷ - - ŷŷ - ŷŸ 118 26.5 - ŷŷ - ŷŸ 69.0 114.0 24.5 Ÿź 39.0 - źŷ - 20.0 ŷŷ 16.5 - ŷŷ 38.5 390 źŷ ŷŸ 1,680 158 źź 84 - ŷ - Ÿ - ŷ Ÿ - ŷ 87 Ÿ - ŷ 340 ŷ 53 ŷ 300 - ŷŷ - - ŷŷ 295 - ŷŸ - 265 ŷŷ 124 - źŷ 106 źŸ 63 Ÿ -- ŷŷ - - ŷŷ - ŷŷ 350 108 450 źŷ - - ź - ŷŷ 108 285 ŷŷ

Global Index - Insurance Al Nawadi - źŷ Alrai Media 118 źź 118 48 Kuwait R.E. 48 Zima R.E. Holding United 100 - 100 - Ÿŷ 118 ŸŸ National 126 GlobalR.E. Index - Services 200 ź Salhia R.E. 204 - ŷ LiveStock Trans.

Pearl R.E. ŷ Dana Al-Safat 22497 22494 źŸ Tamdeen R.E. United Poultry Ajial R.E. - - ŷŷ Kw FoodStuff 1,360 1,360 - ŷŷ Massaleh R.E. United Food Arab R.E. 30.0 - 30.0 - źŷ Kout R.E. Food - - - ŷź Union Global Index - Food 98 96 źŸ ERESCO 860 840 Mabani Sharjah Cement 80 Ÿ 80 7587 7487 Ÿŷ INJAZZAT RE Gulf Cement 12.0 11.5 Inv. Holding Grp Um Quwain Cement 70 69 źŷ Int'L Resorts Fujaira Cement - ŷŸ 78 77 Ÿ Commercial R.E 124 124 ŷ Ras AlKheimah 70 65 ź Sanam R.E. 114 114 ŷ ARIG 54 53 ź Aa'yan R.E United Gulf Bank - ŷ - ŷ Aqar - ŷ Egypt Kw Holding Kuwait R.E Holding ŷ Bahrain Kw Ins. 59 ź AL Mazaya 60 56.0 Gulf Fin. House 59.0 14.0 źŷ Al Dar National R.E 14.0 InovestInt'L Holding -74 -71 ŷŸ Themar Ahli United Bank - 168 ŷź Grand R.E Projects - 174 - 30.0 ŷŸ Tijara & R.E Invest - 32.0 Ithmaar Bank - ŷŸ AlGlobal TameerIndex - Non-Kuwaiti Arkan Al-Kuwait R.E 70 ź 70 - ŷ Markaz Real Estate Safat Global ŷ - ŷ AlInvestment Argan Int'L Funds 28.5 28.0 Abyaar Al-Bareeq Holding - źŷ 23.5 - 23.5 - źŷ Munshaat AFAQ First Dubai 26.0 - 25.5 - ź Al-Shamel KBT 27.0 ŷŷ Al-Safat Real Estate 27.0 Manazel 16.532 15.532 źŸ Ajwan Real Estate REAM - ŷŸ Specialities Group 450 460 - Mena Real Inter.

Estate - - ŷŷ Masaken AlDulaqan MoudonR.E Intl. R.E - - - ŷŷ Markaz Real Estate 57 56 Eid Food - źŷ Kuwait Remal 295 - 285 - Ÿŷ Maidan ClinicR.E

Last Close Previous Close - Change Ex-D 216 216 20,000 1 -0.70 2,240 112 176.53112 177.24 30,000 3 10,750 350 350 5,726.90 5,754.20 -27.30 40,000 2 9,000 218 218 Last Prev.

Trading Activity 5 9,000,000 130 796,800 80 85 Close Close Chng - Volume 1,575,000Tran.

630 16 Value(KD) 989,250 630 1,100 1,100 3,796,050 - 1120 1120 3,377,500 - 69 495 495 - 830,000 - 20 407,950 216 216 770 770 10,000 1 7,700 - 415 415 640 -20 2 6,400 660 10,000 275 275 800 50 850 350,000 - 23 282,700 Ex-D 224 224 248 248 - 5 700,000 173,600 3,100 305 10,000 16 1 310 460 465 -510 500,000 229,750 4,740,000 1080 130 701,760 140 890 -10 880 1,280,000 - 66 1,127,050 102 102 590 590 607,850 1,035,000 - 33 128 Ex-D 128 319.37 319.54 8,092,500 6,639,050 0.17- 1,240,000 24022 214 264,160 214 44 44 106 106 - - - - 194 224,920 1,160,000 1431 194 260 265 -5 250,000 65,750 21,000 280,000 13 5 4075 1,680,000 -1 67,160 4175 5,975,610 28,622,500 20 515 168.81 1.41 167.40 170 1,040,000 172 -2 177,720 300 110,000 5 33,000 295 5 960 960 7,040,000 12.5 12.5 46 90,920 280 280 1,280,000 22 52 53 -1 67,280 1,500,000 400 42 600,300 400 25.0 25.0 52 52 130 130 2,606,150 10 3,520,000 115 730 720 31.0 31.0 2,360,000 34 178,880 75.0 73.0 2.0 230 230 110 110 102 102 350 350 -108 112 73,920 680,000 - 18 1,318,600 7,880,000 163 10.0 166 156 50 50 3,940,000 116 431,360 104 104 44.0 44.0 143 5,380,000 588,080 108 106 52 52 - -2 550 550 74 74 - - - - 257,500 608,800 2,280 2,340 28.5 28.5 - 60 -36 866,480 6,780,000 14 173 124 114 108 54,920 108 -10 500,000 58 4958 49.5 15,840 -1 320,000 4 300 300 23 - - 23 - - 355 355 71 - - 71 - - 37,850 130,000 2210 295 295 31.0 31.0 58,760 1,840,000 - 255 255 48.5 - 48.5 - - 260 260 - - 68 68 -Ex-D - 1,767,320 16,880,000 209 108 106 2 20.5 20.5 26.0 26.0 1 27,520,000 188 497,000 17.5 18.0 244 - 244 - - - 270 270 9476 - 1 9475 -72 429,360 5,560,000 - 2 5184 5184 - 80,000 7,120 - 36 36 - - - 154 154 -10 51 51 - 2 25,960 220,000 118 120 26.5 26.5 2 6,360 240,000 600 600 75 75 6,640,000 110 464,920 72.0 70.0 2.0 8.0 120.0 112.0 1,305,280 1,960 24.5 25.0 80,000 212 1 0.5- 11,180,000 2.039.5 41.5 24 77,080 1,920,000 120 120 19.0 19.0 - 20.0 359 1,991,760 20.0 94,320,000 16.5 5 7,920 16.5 480,000 260 260 39.0 0.5- - 10,640,000 419,440 38.5 400 48,200 400 120,000 9311 29.0 29.0 - 20 - 4 46,300 27,500 1,700 1,680 160 2.0158 12,680 80,000 4 5 34,720 83 86 -3 400,000 255 255 118 114 4 114 114 72.0 71.0 1.0 26.00 26.00 20 840 000 73 520 88 86 2.0 840,000 17 73,520 68 68 340 340 6,800 20,000 2 53 200,000 53 10,600 2 295 295 268,300 890,000 - 60 -29 60 168 168 46.5 - - - - 46.5 305 300 1,150,000 340,800 64 - 5 -29 64 265 2,650 10,000 265 42.50 - 42.50 - 1 285 285 128 130 -2 1,240,000 - 38 157,920 104 102 2.0 40,720,000 150 489,360 4,460,000 558 76.02 0.1275.90 2,702,550 64 61 85 3 300,440 4,680,000 - - 325 325 - 48.0 48.0 -- - 560 560 - 770 770 -485 485 385 1 10,000 385 3,500 118 -8 120,000 110 636 13,200 470 500,000 470 225,950 220 220 Ex-D - 240 242 -2 114 - 114 - 1 106 20,000 106 2,160 40.50 40.50 290 290 1,790,000 86 515,050 43.63 43.43 0.19- 120,000 6 13,200 82 82 122 20,000 2,360 120 1 1 3,840 49 -1 -2 48 80,000 98 92,000 9 100 9998 1 920,000 383,920 124 120 4 105 3,100,000 2,241 741.98 733.32 197,985,000 8.67 14,782,010 12 104,680 200 204 -4 520,000 184 184 37.5 37.5 2,400,000 230,440 94 93 333 224 10.0- 1 100,000 22,400 234 136 136 120 120 - 530,000 1,360 720,800 1,360 82 - -28 82 340 340 1 30.0 80,000 30.5 0.52,400 550 580 - -30 - 108 108 - - 2,930,000 334.76 951,240 0.42 334.34 31,160 -1 320,000 98 97 861 1,656,950 10 1,935,000 850 860 40,000 57 1 3,200 85 85 Ex-D 2 8,960 120,000 2 7588 7388 680,000 13 59,160 23,960 11.5 12.0 0.5- 2,000,000 3,440,000 1527 70 238,480 70 38.0 38.0 90 3 93 3 18,520 78 77 1 240,000 2,480 1 126 126 20,000 67,400 17 1,000,000 65 70 -5 112 40,000 1 4,560 112 4 10,720 54 -1 55 200,000 178 178 90 90 280 280 38.0 38.0 Ex-D 455 455 11 59 26,160 440,000 -4 63 28,560,000 1,645,360 56.0 56.0 287 1 80,000 1,120 14.0 14.5 0.52 120 822,240 11,320,000 9171 9169 -2 444,840 168 170 2,600,000 -45 17.5 17.5 31.029.5 31.027.0 27,760,000 206 865,400 3 59 59 4,085,720 0.40 41.88 74,460,000 701 42.28 -4 320,000 2 22,400 70 74 122 122 48.5 48.5 - - - 124 124 12 0.52,720,000 76,880 28.0 28.5 144 144 1.0- 80,000 1 1,880 23.5 24.5 106 106 0.5240,000 6,160 3 26.0 25.5 250 250 Ex-D 35,040,000 946,080 - 4 27.0 27.0 22.0 22.0 1,200,000 8 3 1.0- 2 19,240 16.5 15.5 32 240,000 31 7,640 -30 134 134 5 455 450 450,000 205,850 - 134 134 51 51 - - - - 220 220 345 345 1 240,000 6 13,520 57 58 106 106 610,850 295 290 5 2,110,000 2,260 2,260 - 47 0.024,151,200 49.73 49.75 Ex-D 53,085,000 400,000 332 5 40.5 42.0 16,240

Global Index - Real Estate Flex 42.0 39.5 ź 88.0 Dar Al-Thuraya Real E 242 232 Nationl Ind. Group 232 źŷ Kw Medical Services 128 - 126 - ŷŷ 128 65 Pipes Ind. & Oil 450 Kuwait Cement 455 450 ź Amar For Fin. & Leas.

55 - ŷ 150 - ŷ Refrigeration Ind.Market Total Parallel 1,420 1,420 1,420 ź Gulf Cables & Elec.

335 - ŷ Heavy & Ship.

Totaleng.

Market 212 Marine Services - ŷ GlobalCement Special Indices 720 720 ŷ Portland 720 Ÿ GlobalIndustrial Index - Kuwaiti -Co.'s - ŷ 180 Shuaiba Ÿ Global Index - 10 Large 104 104 ź Metal Collecting 110 Cap. 460 Ÿ - ŷ Kuwait Foundry Global Index - Islamic -

88.0 242 -10 13,220,000 - 154 128 - 140,000 6 65 470 20 50,000 2 55 150 -38 1,090,000 1,460 -40 2,500 1 335 570,515,000 6,228 212 Close Prev. Close 720 230,000 19 188.65 180 189.44 106 184.14 -2 80,000183.70 3 460 572.06 564.62

DTD -0.40% 112 350 -0.47% 220

Last 87 Bid620

1,120 490 770 390 640 255 840 246 305 460 150 870 580 212 102 192 260 4074 168 295 960 12.5 51 395 740 75.0 335 106 168 - 110 110 - 2,380 27.0 126 108 49 290 21 - 290 31.0 64.0 - 104 - 17.5 - -76 -87 - 116 26.0 68.0 118.0 22.5 18.0 20.5 16.0 38.5 395 -1,680 156 84 114 72.0 87 63 325 52 300 - 295 - 260 124.0 112 62 300 46.0 510 460 355 108 455 236 - 285 79 116 48 99 122 200 - 96 126 110 1,360 - 290 540 112

95 86078 7178 11.586 35.5 69 77 88 124 53 112 174 275 13.59057 72 30.0 168.0 70 116 28.0 23.5 25.0 192 24.5 19.5 15.532 455 29 218 5580 290 -

3,111,120 17,800 122 22,550 45550 150 229,730 3,550 1,420 48,873,320 310 Change 710 165,600 0.79 178 0.44 104 8,480 435 7.44

214 116 365 226 Last 89 Ask 630 1,200 1,140 495 224 780 660 295 850 248 310 465 880 590 214 106 194 265 40 76 172 300 1,000 13.0 52 400 750 33.5 76.0 355 110 170 - 112 112 540 2,400 29.5 128 110 50 320 24 - 295 32.5 - 106 - 18.0 238 280 - 78 54 184 118 27.0 600 69.0 120.0 24.5 39.0 130 20.0 21.0 16.5 270 39.0 410 -1,700 160 88 270 122 74.0 27 89 73 345 53 305 61 178 47 300 69 - 265 270 128.0 114 63 325 49.0 610 750 500 370 114 460 240 110 108 43.0 290 86 120 49 106 100 126 202 37.5 224 97 130 1,380 85 350 31.5 600 118

MTD YTD 0.0% 216 180 12.59 -1.55% -1.55% 0.0% 120 102 495 0.0% 315 -1.50% -1.50% 226 2.2% 196 28.05 Div. Annual Close 79 0.0% 102 36.43 Yield 0.0% High630 Low 550 P/E89.84 3.6% 1,400 1,100 17.40 3.6% 1,120 1,100 14.74 0.0% 510 490 33.95 6.9% 216 206 12.38 1.9% 790 770 88.62 8.4% 340 9.94 415 3.1% 660 640 17.34 0.0% 275 5.20 300 1.6% 850 790 29.68 2.2% 228 224 35.32 0.0% 255 248 23.59 3.2% 25.33 325 260 0.0% 475 460 51 12.26 0.0% 150 2.3% 900 880 93 25.07 0.0% 102 0.0% 590 590 112.24 5.5% 128 18.88 128 2.0% 18.61 0.0% 319.54 210 12.90 222318.41 0.0% 0.00 0.0% 106 51 106 41 40.56 4.2% 214 162 17.12 8.5% 265 260 12.09 0.0% 0.0% 42 88 40 70 2.7% 174.76 163.04 13.86 0.0% 174 170 88.93 6.7% 305 295 12.13 910 4.4% 1,120 18.02 0.0% 13.5 12.5 1.33 0.0% 280 280 0.0% 54 52 7.5% 430 340 15.48 0.0% 25.0 25.0 0.00 0.0% 41 0.00 65 0.0% 130 130 8.8% 900 690 11.15 0.0% 36.0 31.0 0.0% 81.0 45.0 0.0% 230 230 0.0% 110 110 58.86 0.0% 102 102 0.00 0.0% 350 295 9.3% 116 108 2.9% 170 110 21.72 0.0% 50 50 0.00 0.0% 136 44.0 102 0.0% 44.0 0.00 0.0% 112 9.46 0.0% 52 52 84 0.00 0.0% 550 530 0.0% 74 74 0.00 2.1% 2,400 28.5 1,920 12.53 0.0% 28.5 0.00 0.0% 126 0.0% 112 108 95 0.00 0.0% 0.0% 51 68 49 58 8.3% 350 230 22.18 0.0% 23 22 395 7.0% 340 8.75 0.0% 71 71 0.00 305 31.0 3.4% 260 10.08 0.0% 31.5 7.1% 260 48.5 255 12.82 0.0% 48.5 260 68.0 260 7.7% 4.79 0.0% 68.0 32.31 132 20.5 54 349.35 0.0% 0.0% 20.5 0.0% 26.0 0.00 23.5 26.0 14.0 0.0% 0.0% 244 244 270 12.91 280 0.0% 0.0% 94 84 94 61 0.00 13.81 6.4% 0.0% 51 51 84 116.80 104 0.0% 0.0% 36 36 0.00 154 154 9.95 0.0% 0.0% 51 51 91 0.00 0.0% 120 0.0% 27.5 710 26.5 4.5% 520 14.57 0.0% 75 75 0.00 78.0 0.0% 30.0 10.71 0.0% 120.0 28.5 99.0 16.0 0.0% 0.0% 41.5 120 0.0% 140 19.5 0.0% 19.0 0.0% 21.0 19.0 0.00 12.0 0.0% 17.0 0.0% 42.66 275 16.5 198 0.0% 39.0 89.44 0.0% 490 38.0 380 0.0% 0.00 % 29.0 4.1% 16.18 1,740 29.0 1,500 156 8.28 3.8% 162 5.84 0.0% 89 73 255 22.77 255 5.1% 13.68 8.5% 124 86 11.92 114 0.0% 114 0.0% 78.0 57.0 26 0.0% 28 0 0% 0 00 0.0% 104 80 0.00 68 43.00 0.0% 68 340 12.34 8.8% 270 53 0.0% 55 280 315 3.99 3.3% 60 0.0% 60 130 6.0% 7.71 168 47 10.8% 47 172 4.3% 305 10.67 64 0.0% 64 21.52 0.0% 265 305 42.5 0.00 0.0% 42.5 300 128.0 0.0% 20.02 265 0.0% 132.0 5.19 0.0% 76.32114 75.90 70 10.01 2.4% 51 0.0% 72 16.97 6.2% 325 325 0.0% 62.0 20.90 44.0 12.90 4.5% 560 560 1.9% 770 640 31.91 9.91 5.2% 520 485 4.3% 390 11.47 345 17.37 9.1% 118 110 0.0% 485 410 9.59 220 220 2.7% 0.0% 270 236 296.83 17.65 0.0% 134 114 98 4.6% 14.91 114 0.0% 40.5 300 40.5 218 8.72 7.0% 12.60 4.7% 8.5% 44.80 92 43.43 77 7.12 0.0% 156 21.95 114 37.20 0.0% 49 48 0.0% 110 12.83 0.0% 100 99 94 0.0% 120 22.21 128 12.2% 791.90 705.36 11.33 10.0% 200 17.83 208 0.0% 222 37.5 182 15.27 0.0% 37.5 0.0% 114 4.5% 234 224 90 16.20 3.7% 136 126 6.02 0.0% 130 120 4.8% 1,500 1,360 11.38 6.1% 82 82 5.29 1.5% 390 44.60 340 0.0% 30.5 30.0 610 5.5% 500 9.86 6.5% 108 108 15.28 4.2% 365.22 334.34 11.36 0.0% 100 96 39.65 0.0% 860 840 21.70 0.0% 44 95 0.0% 76 73 55 0.0% 108 0.0% 0.00 12.5 73 11.5 43 10.1% 32.06 0.0% 38.0 38.0 0.0% 122 46 0.0% 78 14.56 77 8.1% 126 11.12 118 0.0% 75 65 0.0% 132 102 54 26.32 0.0% 55 0.0% 232 387.72 172 0.0% 90 90 330 250 6.24 7.1% 0.0% 38.0 38.0 0.00 455 455 5.5% 63 0.0% 59 550.96 40.5 74.0 0.0% 14.5 4.15 14.0 0.0% 0.0% 5.5% 91917.1% 9.38 17.517.50.0% 0.0% 31.031.019.44 0.0% 0.0% 59 59 4.3% 40.74 47.16 8.67 0.0% 78 70 11.37 1,220 1,220 0.0% 0.00 48.5 48.5 0.0% 144 124 5.38 0.0% 29.028.027.28 0.0% 0.0% 24.523.55.03 4.7% 0.0% 26.025.513.99 6.0% 0.0% 28.527.00.0% 0.0% 16.515.50.0% 3.7% 13413423.07 14.45 6.3% 0.0% 32 320.0% 2200.0% 22018.82 816.78 0.0% 57600.00 0.0% 9.98 0.0% 0.0% 295 270 0.00 0.0% 1.1% 49.86 49.73 16.27 0.0% 22.75

98 870 80 76 80 12.0 88 37.0 70 79 93 65 126 54 114 91 184 40.5 290 60 14.594 58 73 33.5 170.0 57 74 126 28.5 25.0 25.5 240 28.0 23.0 16.0 33 130 460 32 - 57 295 42.5 92.0 0.0% 0.0% 232 0.0% 130 70 0.0% 465 60 2.2% 0.0% 3.3% 0.6% 1,440 4.6% 4.72% 340 3.0% 216 2.4% DTD 13.9% 720 0.42% 190 5.6% 0.24% 108 0.0% 4.3% 1.32%

232260130128470450158 150 1,460 1,420 340 335 212 222 MTD 710 740 -1.93% 180 180 -3.23% 104 116 460 2.22% 460

70.58 18.38

13.19 6.49 14.69 8.02 193.84 YTD 96.15 -0.06% 10.91 -3.13% 23.15 26.77 1.79%

STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY thursday, april 19, 2012

April 21, 2009 April 18, 2012

1% 6%

1% 6%

Qatar

Dubai

Dubai

90

GCC Best Performers

Saudi

95 18-Jan-12 85

18-Feb-12

18-Mar-12

MENA Best Performers

-1%

18-Apr-12

-6% -2

S&P Pan 3-Feb-09 Arab Large/ 18-Feb-09 Mid Composite S&P 20-Mar-09 GCC Large/ Mid Composite 19-Jan-09 5-Mar-09 4-Apr-09 19-Apr-0

1

MENA Indices Highlights Country (Index)

Index Level

Sa Saudi Arabia (Tadawul All Share Index) Country (Index)

Index 7,514 Level

UASa UAE (ADX Index) Saudi Arabia (Tadawul All Share Index)

2,513 5,250

QaUAUAE Qatar (DSM Index) (ADSM Index)

8,717 2,695

Ku Kuwait (KSE Weighted Index)

UAE (DFM(KSE Index) Ku Kuwait Weighted Index)

OmOman UAE(MSM (DFMIndex) Index)

417

Ba Bahrain (BSE Index)

Le Lebanon (Beirut SE Index)

Jo Jordan (Amman General Index)

Pa Palestine (Al-Quds Index)

M Morocco (Casa All Shares Index)*

Tu Tunisia (Tunis SE Index)

Le Lebanon (Beirut SE Index)* *Market Closed

Pa Palestine (Al-Quds Index)

5,478

1,681

10,352

463

1,186

2,825 468

10,621

5,054

1,094

3,282

0.0% 0.6%

0.8% 3.9%

-0.1%

5.1%

-0.2%

0.4%

-0.4%

-0.3%

-

2.2%

-0.3%

0.2%

-

-

0.9% -

467

52 Wk Low

525,916 Wk Low 396

Turnover USD million

Turnover 3,580 USD million

Mkt.391,333 Cap. USD million

175

Trailing

13.17

-0.6% 12.8%

8,892 5,148

8,071 2,137

93 122

125,978 69,783

11.48 7.29

0.9% -18.8%

1,407 12,627

1,129 4,230

0 196

17,305 65,352

9.22 8.85

2,216

1,921

1,754 787

6,372 5,860

29.0%

5,628

0.7%

12,109

1.1%

-6.8%

2,903

-6.9%

8.5%

0.8%

20 305

3,587

44

4,224

5,044

2,551

513

465

14,635 5,065

4,091

23.6%

739

407

-7.2%

2,119

13.6%

3,418

-

1,164

-3.3%

6.2%

18,424 37,413

9,406

-

1,043

-

2,837

-

4

13.68

63,640

7.67

18,727

2

10,564

1.61

1.29

3.23

1.56

6.32

33,782

12.71

6

10,038

15.58

2,503

0.85

2.15

9.08

59,990

1.14

18.36

8,507

2

1.68

15.16

67 2

1.29

8.07

56,457

3.95

1.78

6.47

2,079

0.86

8.67

6,576

MENA Worst Performers

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

AIR Air Arabia

225 Saudi Industrial Inv. Grp.

115

118

Tadawul Index 52 week High / Low

101 Riyad Bank

115

Market Cap. (SAR '000)

-6.4%

474,558,890 340,363,207

115 Alinma Bank (KSA)

Turnover (USD)

205,869,435

430 Dar Al Arkan Real Estate Dev. Co. (KSA)

343,553,085 160,906,059

201 (KSA) 201Saudi SaudiBasic BasicIndustries IndustriesCorp.

Corp.

(KSA)

119,955,261 151,660,419

115 Bank (KSA) 425Alinma Jabal Omar Development Co. (KSA)

97,126,838

NBKNational Bank of Kuwait (KUW)

88,742,222

1,467,616,173

7030.SSE Zain - Saudi Arabia 7010.SSE Saudi Telecom Co.

43Dar Al Arkan Real Estate Dev. Co.

S&P GCC Large/Mid Composite

603,445,994

20Saudi Basic Industries Corp.

18-Apr-12

% Chg.

55.50

7.3%

21.15

5.5%

98.50

5.9%

9.60

4.4%

41.30

Turnover (SAR) 1,779,738,207 2060.SSE National Industrialization Co. 1,276,464,135 4300.SSE Dar Al Arkan Real Estate Dev. Co. 772,072,141 2050.SSE Savola Group Co.

1 Alinma Bank

18-Mar-12

Close

2.7%

Worst Performers

70Zain - Saudi Arabia

18-Feb-12

64,280,166

3050.SSE Southern Province Cement Co.

Highest Turnover

105

95 18-Jan-12

SAR 24.70

-6.8%

Turnover (USD)

MENA Highest Turnover

13,425,592

-4.6% -8.9%

-3.6% -8.6%

703 Zain - Saudi Arabia (KSA)

7,931 / 5,916 4250.SSE Jabal Omar Development Co.

Turnover (SAR '000)

-9.5%

QAR 19.00 SAR 48.00

SAR 13.70

GCC Highest Turnover

0.76

Advance/Decline Ratio

% Chg.

0.44 SARAED 22.95

83% 2290.SSE Yanbu National Petrochemicals Co.

% of stocks trading above 1yr avg. price

4.9%

8.0%

KWD 0.280 -13.1% -5.1% KWD 0.265

7,514 (0.0%)

Tadawul Index (% Chg.)

125

5.5% 8.6%

AED 0.65% Chg. -9.4% Close

EMAEmaar Properties (UAE) Best Performers

Summary

5.9% 8.8%

AED 1.24

KFI Kuwait Finance House (KUW)

Rebased Performance

7.3% 9.8%

8.0%

Close

TAMTamweel

0.88 201 ERE Ezdan RealIndustries Estate Co. 1.74 Saudi Basic Corp.

9.50

27,583

OMR 0.720

GCC Worst Performers

1.91 FAC KAM KIPCO Asset Management Co. 1.37 Commercial Facilities Co. 1.62 UPP Union Properties 0.88 238 Rabigh Petrochem.

9.27

15,024

6

1.04 1.77

10.85 6.87

55,183

46

328

8.77 10.24

34,539 98,547

16

1,572

10,233

1,403

2.4%

84 718

5,419 1,433

12,203

1,033

-1.9%

1,301 316

2.03

0.78 1.52

66,378 264,263

QAR 21.60

BKMBankMuscat

PB

10.67 9.99

18 2,183

KWD 0.128

QGTQatar Gas Transport Co.

PB1.43

2,293 4,130

SAR 21.15 QAR 6.35

NR National Real Estate Co.

PE 14.25

2,775 10,090

SAR 98.50 OMR 0.703

425 Jabal Omar Development Co. KCB Al Khaliji Commercial Bank

PE

100,907

SAR5.60 55.50 SAR

305Galfar Southern Province&Cement Co. GEC Engineering Contracting

Trailing

Mkt. Cap. USD million

4.6% 9.3%

5.5% 6.6%

546

Tu TunisiaClosed (Tunis SE Index)* * Market

0.3% -4.0%

2.8%

0.4% 1.9%

2,015

Eg Egypt (Hermes Egypt Index (HFI))*

0.5%

6,008 1,745 4,673

52 Wk 7,931 High

17.1% YTD

21.4% -0.2%

Jo Jordan (Amman General Index)

M Morocco (Casa All Shares Index)

0.0% % Chg.

-0.4% 1.8%

1,154 5,590

OmOman (MSM Index)

YTD

1,643 406

BaQa Bahrain Qatar (BSE (DSMIndex) Index)

Eg Egypt (EGX 30 Index)

% Chg.

52 Wk High

% Chg.

KWD 0.112% Chg. 7.7% Close

229Kingdom Yanbu National Petrochemicals Co. 3 428 Hldg. Co.

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

Close

4 SULSultan Center Food Products Co.

Period's Liquidity 1 Ratio (PLR x)

-1

Abu Dhabi

-1%

-6%

Tunisia Abu Dhabi

-4%

Palestine Palestine

95

-2%

Saudi Dubai Dubai

0%

100

Kuwait

Qatar Saudi Abu Dhabi Bahrain

0%

100

105

0%

0%

Qatar Saudi

Return DailyDaily Return (%)(%)

110

Abu Dhabi

Qatar Oman

111

105

2%

Kuwait

Oman

Morocco

115 111

4%

Lebanon Oman

115110

Oman

Kuwait Kuwait

Bahrain

113

Jordan

113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Egypt Jordan

120115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

568,772,070

42Jabal Omar Development Co.

1150.SSE Alinma Bank

4220.SSE Emaar the Economic City

Close

% Chg.

37.00

-2.6%

34.60

-1.4%

11.45

15.20

12.50

-2.6%

-1.3%

-1.2%

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

Close 78.00

Daily % Chg. -0.3%

High 78.50

Low 77.75

Turnover (SAR '000) 91,614

1 Alinma Bank

15.20

-1.3%

15.55

15.05

1,276,464

1 Arab National Bank

31.20

0.7%

31.30

30.60

8,475

2 Almarai Co.

1 Bank AlBilad

1 Bank Al Jazira

62.25

31.60

-0.8%

0.6%

29.40

-0.7%

4 Dar Al Arkan Real Estate Dev. Co.

11.45

-2.6%

7 Etihad Etisalat Co.

67.00

0.4%

1 Banque Saudi Fransi

4 Emaar the Economic City

4 Jabal Omar Development Co. 4 Jarir Marketing Co.

4 Kingdom Holding Co.

38.80

12.50

21.15

155.00

30.20

46,933

30.80

130,991 2,641

29.10

54,041

11.35

772,072

66.25

108,958

153.50

8,615

39.20

38.50

-1.2%

12.85

12.35

396,338

20.00

568,772

5.5%

0.7%

-0.4%

2 Rabigh Refining & Petrochemical Co.

22.90

-0.9%

1 Samba Financial Grp.

53.75

37.00

32.90

62.00

0.0%

12.10

2 National Industrialization Co.

63.25

-2.6%

11.85

67.50

21.35

155.50 12.25

38.80

23.35

Volume ('000) 1,173

52-Week High

-5.7%

12.2%

71.75

48.41

-13.2%

8.8%

17.20

0.0%

273

33.70

1,828 68

32.90

31.90

9.05

26.60

68.25

50.00

155.50

101.83

11.10

185

56.75

42.40

-5.3%

15.3%

-0.5%

48,375,000

0.0%

0.0%

2 Saudi Basic Industries Corp.

102.25

0.0%

103.25

101.25

603,446

5,897

112.50

87.75

-1.1%

13.90

13.55

99,133

7,229

16.30

22.55

47,753

18.90

3,396

29.00

2 1 Saudi Investment Bank 2 Saudi Kayan Petrochemical Co. 7 Saudi Telecom Co. 2

22 Saudi Industrial Investment Grp.

Saudi International Petrochemical Co.

Savola Group Co. 0 3 Southern Province Cement Co. 0 1 SABB 3 Yamama Saudi Cement Co.

2 Yanbu National Petrochemicals Co.

7 Zain - Saudi Arabia

33.90

89.25

47,816 40,745

1,195

0.0%

29.10

28.70

21.90

-0.5%

22.10

21.85

39,656

17.70

-0.3%

17.50

175,566

33.70

33,853

36.40

7,123

23.20 19.00

41.30

1.5%

-0.3%

41

24.25

0.0%

0.0%

0.0%

21.00

15.55

21.30

4.4%

55.50

10.05

51.75 9.30

151,870

1,779,738

2,853

182,492

56.00

11.50

47.50 5.25

11,510,100

11.4

1.6

25.6

1.1

8,030,000

11.4

1.4

0.0%

82,600,000

10.8

1.8

0.0%

13,790,000

15.4

5.2

0.0%

83.25

4.8

0.0%

0.0%

785

14.9

0.0%

0.0%

39,942

14,076,000

1.2

41.60

50.00

1.9

2.2

14.8

-17.2%

51.25

1.7

5.0

10,450,000

-9.8%

1.5%

46.30

1.2

-1.0%

-20.7%

62.00

1.9

2.5

17.6%

34.20

106.75

nmf

1.8

-9.5%

26.7%

136

11.2

2.2

1.7

20.6%

13,232

1.4

19.8

-2.5%

93.25

0.8

10,440,000

23.70

100.25

1.9

1.8

0.0%

-16.9%

5.9%

35.50

0.0%

15.50

33.00

7.3%

56,874,006

17.75

178

194

0.0%

14.1%

0.0%

8.4

nmf

10.5

16.8%

24.45

nmf

306,750,000

-1.0%

0.0%

2.8

10.3

nmf

-3.8%

31,820,000

3.5

1.6

18.1

11.2

0.0%

1.4

2.6

45,437,500

0.0%

21.42

0.0%

20,624,853

3.6

9.2

12.0

29.30

12.85

41.30

36.90

6.2%

44,841,176

11.4

37,650,000

67.3%

18.55

983

-9.1%

0.0%

-2.0%

27.8%

4,146

35.00

0.0%

7.7%

0.0%

-6.1%

27.20

9,945

-6.7%

0.0%

54.75

2,095

1,806

0.0%

0.0%

98.00

170,209

0.0%

9.60

445

37.50

23.10

39.90

36.70

55.50

17.85

1,395

26.90

41.50

-1.4%

51.25

19.30

251

2.7%

34.60

98.50

23.20

9,300,000

9,928

165.00

1 Saudi Hollandi Bank

19,656,810

53.00

200.00

13.65

0.0%

50.0%

46,900,000

20,060,400

241

5 Saudi Electricity Co.

0.0%

-4.6%

43,918

92.50

nmf

-1.5%

180.00

2.5%

10,625,000

12,366,000

-23.2%

35.10

0.0%

32.6

0.0%

21.20

50.75

0.0%

29.0

12.0

29.80

3,181

184.00

92.00

0.0%

11.3%

12.2

35,075,894

3,510

-0.4%

3 Saudi Cement Co.

0.0%

-0.3%

0.0%

8,820,000

nmf

0.0%

80,796

36.90

7.05

181.75

34.60

0.0%

0.0%

9,480,000

22.75

13.10

2 Saudi Arabian Fertilizer Co.

0.9%

0.0%

0.0%

26,520,000

864

118,957 6,309

34.40

0.0%

22,800,000

10,463

12.00

25.10

1 Saudi Arabian Mining Co.

0.0%

0.0%

25.30

54.25

0.0%

0.0%

-0.4%

-0.9%

21.7

0.0%

6.20

25.10

1 Riyad Bank

24,900,000

6.05

13.60

21.10

15.2%

51.2%

47.0%

0.0%

PB

15.9

62.6%

0.0%

Trailing PE

117,000,000

73.5%

1,631 56

0.0%

Market Cap. (SAR '000)

3.3%

-7.8%

30.00

13.85

27,259

-6.5%

12 mths

15.75

40.00

66,481

31,478

YTD

67.25

16.25

4,100

on high

82.75

83,420 749

% Change

Low

0.0%

0.0% 0.0%

1.7%

0.0%

0.0% 0.0%

0.9%

0.0% 0.0%

26,550,000

17,300,000

36,700,000

nmf

14.5

12.7

10,378,125

14.1

13,440,000

nmf

31,218,750

9.8

1.7

2.2

2.1

3.1

3.0

3.1

STOCKS WITH NBK CAPITAL

13

ALWATAN DAILY thursday, april 19, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,268 (0.5%)

KSE General Index (% Chg.)

120

417 (0.5%)

KSE Weighted Index (% Chg.)

53%

% of stocks trading above 1yr avg. price

115

KSE General Index 52 week High / Low

Highest Turnover

95 18-Jan-12

18-Feb-12

18-Mar-12

18-Apr-12

S&P GCC Large/Mid Composite

0.305

3.4%

4.4%

0.315

3.3%

Worst Performers Turnover (KWD) 2,606,150

Zain Kuwait ZA

100

4.9%

28,102,711

Market Cap. (KWD '000)

102

7.7%

0.128

0.470

48,782

Turnover (KWD '000)

105

National Real Estate Co.

467 / 396 KPROJ.KSEKuwait Projects Co. (Holding)

KSE Weighted Index 52 week High / Low

110

NRE.KSE

% Chg.

0.112

1.30 KCEM.KSE Kuwait Cement Co. 6,523 / 5,694 ALAFCO.KSAlafco Aviation Lease and Fin. Co.

Advance/Decline Ratio

115

Close SULTAN.KSSultan Center Food Products Co.

N National Industries Grp. Holding

2,028,560

K Kuwait Finance House

1,485,150

K Kuwait International Bank

1,562,200

MMabanee Co.

1,248,000

Close KAMCO.KSKIPCO Asset Management Co.

% Chg.

0.280

JAZEERA.KJazeera Airways

0.460

NBK.KSE

1.060

FACIL.KSE Commercial Facilities Co.

-5.1% -2.1%

0.255

National Bank of Kuwait

AREFENRGAREF Energy Holding Co.

-1.9%

-1.9%

0.118

-1.7%

KSE Weighted Index

Quotes Company Name

Close

Daily % Chg.

High

A Agility

0.400

T Al Themar Intl. Holding Co.

0.087

A AREF Energy Holding Co.

0.118

-1.7%

0.630

0.0%

A Al Ahli Bank of Kuwait

A Alafco Aviation Lease and Fin. Co. B Boubyan Bank

B Boubyan Petrochemical Co. B Burgan Bank

C Commercial Bank of Kuwait

0.790

F Commercial Facilities Co. G Global Investment House

1,390

0.620

0.530

-3.2%

0.0%

0.425

0.420

1,054

2,510

0.524

0.410

-18.9%

46

0.0%

0.430

0.410

2.5%

K Kuwait Projects Co. (Holding)

0.315

0.495

0.285

-17.2%

-13.7%

-9.9%

0.0%

0.104

0.102

822

8,020

0.242

0.096

-57.0%

2.0%

-5.1%

0.290

600

0.295

0.236

-5.1%

2.7% 0.0%

-

-

1.280 0.194 0.460

0.470 0.760 1.360

-

1.240

193

0.192

225

0.450

226

0.275

169

0.450

69

-

0.940

-

0.700

0.055

153

0.019

1.680

1,160

1.260

0.214

500

0.138

0.485

150

0.118

0.630

0.415

-16.0% -10.9% -25.0%

-10.3% -5.2%

-25.4%

186,092

nmf

35.2%

-59.2%

3.7%

7.3

1.5

3.8

144,000

17.1

1.0

101,200

9.6

3.9

83,500

289.8%

3.1

nmf

73,724

299,698

0.8

nmf

0.9

21.0

2.0

1.4

8.6%

-17.3%

421,021

14.0

0.7

0.0%

0.0%

1.360

-16.0%

1,730

0.405

0.281

-22.2%

1.020

0.990

1,248

1.080

1.060

655

1.580

0.660

22.5%

0.0%

30.4%

-7.4%

4.1%

1.020

0.691

985

923

1.145

0.909

0.226

2,029

8,800

0.285

0.192

-19.3%

0.128

0.124

169

1,340

0.168

0.056

-23.8%

0.214

0.212

264

1,240

0.226

0.186

-6.2%

0.0%

0.310

0.310

1.4%

0.152

0.150

0.265

0.234

-

3

0.112

0.104

0.095

1.1%

0.095

0.095

2.400

2.6%

2.400

2.340

-

0.730

-8.8%

0.144

0.360

40

0.0%

0.260

0.295

10

9

-

0.340

2,820

3

7.7%

-

10

425

431

-

-

-49.2%

0.265

0.246

0.200

-8.1%

-44.9%

1,245

-

0.750

2.6

nmf

26.8

1.620

538

1.4%

37.0

290,451

566

-

1,132,228

1.9

-11.1%

530

0.305

-

0.8

9.8%

721

0.830

-

9.6

nmf

1.2

0.315

-

136,875

36.7

3.3%

0.234

4.1

2,207,165

-20.0%

0.234

16.6

264,513

-23.0%

1.0

164,272

-25.4%

0.236

-0.9%

2.2%

1.5

-8.8%

0.350

0.234

14.8%

37.2

1.2

13.0

-25.4%

5,680

0.265

1.1%

54,503

1.3

0.720

1,562

0.0%

12.9%

34.9

64,309

-25.0%

4.3

nmf

1.019

1.360

0.234

-11.3%

36.1%

nmf

305,613

1,004,898

-32.0%

1.6

1,980

0.275

-

0.0%

-15.1%

1.0

6.0

1,485

0.280

0.870

0.0%

1.9

0.740

0.0%

-

0.740

-44.7%

120

-0.9%

Z Zain Kuwait

-5.6%

22.6%

48

4.4%

0.130

7.6%

-38.1%

0.390

0.212

N Wataniya

656,611

0.5

20.0

88,500

16.7%

0.410

0.0%

4.9%

S The Securities House

-12.6%

12.5%

-14.9%

0.128

A The Commercial Real Estate Co.

-6.0%

0.0%

-11.5%

N National Real Estate Co.

0.112

1,048,941

-1.7%

-22.1%

0.9%

T Tamdeen Real Estate Co.

0.0%

11.3%

0.425

0.230

S Sultan Center Food Products Co.

1.7%

-4.8%

0.552

N National Industries Grp. Holding

S Salhia Real Estate Co.

237,830

760

-1.9%

0.265

-18.7%

325

-

907,944

-3.2%

0.425

1.060

A Qurain Petrochemicals Industries Co.

nmf

-1.9%

3.0%

O Oula Fuel Marketing Co.

0.198

88,088

-32.9%

-

0.150

0.420

-13.0%

1.7%

0.255

1.020

N National Investments Company

0.530

-4.4%

-4.6%

0.380

-1.1%

0.310

-

0.630

15.5

130

0.870

0.033

1,575

0.085

418,735

34

-

1.360

N National Industries Co.

-

0.430

0.280

N National Bank of Kuwait

-

0.255

0.124

-8.7%

PB

1.3%

-12.6%

-2.1%

M Mena Holding

-

0.260

220

989

-

-1.9%

K Kuwait International Bank

26

0.590

PE

6.7%

1.300

0.460

M Mabanee Co.

-

-

0.657

Trailing

Market Cap. (KWD '000)

12 mths

1.945

JAJazeera Airways

P Kuwait Portland Cement Co.

0.620

230

YTD

28

-1.0%

F Kuwait Food Co.

0.630

0.255

0.470

-16.3%

823

0.118

1.680

0.760

0.079

0.590

0.118

1.700

K Kuwait Finance House

0.104

0.600

0.192

K Kuwait Cement Co.

-

0.0%

0.0%

0.280

-8.0%

-19.7%

IK Ikarus Petroleum Industries Co.

K KIPCO Asset Management Co.

0.248

0.280

0.610

1.700

0.104

0.435

0.380

1.260

IF International Finance Co.

1,500

890

C Gulf Cable and Electrical Industries Co.

IF IFA Hotels & Resorts

on high

268

-

0.049

G Gulf Bank

-

% Change

Low

0.300

3.4%

0.260

-

600

52-Week High

0.305

0.305

-

0.425

0.400

Volume ('000)

138

-1.6%

0.600

0.405

Turnover (KWD '000)

0.600

0.600

A Burgan Co. for Well Drilling

C Combined Grp Contracting Co.

0.0%

Low

-9.3%

546,723

-43.5%

79,087

11.4

1.9

31.2

1.2

47.6%

623,412

30.0

4.2

-2.8%

4,614,707

15.2

2.0

-11.5%

-14.8%

297,873

0.0%

23.1%

10.7%

-12.8%

-6.1%

-48.3%

-26.4%

-11.7%

-11.7%

-4.9%

12.5%

8.3%

-13.3%

1.7%

-0.9%

21,780

2.3

107,323

25.3

131,432

nmf

-

0.1

1.4

nmf

0.8

0.7

nmf

0.6

87,370

21.5

2.1

119,977

16.7

0.9

10.4%

233,200

-6.7%

-8.2%

64,829

12.9

1.1

3,940

0.136

0.093

-17.6%

270

2,840

0.097

0.067

-2.1%

23.4%

33.8%

174,307

16.6

0.7

609

258

2.400

1.880

0.0%

23.7%

23.7%

1,209,679

3.3

1.5

-

-

-

0.270

-

2,606

0.216

-

3,520

-

1.200

0.0%

0.690

-38.3%

0.0%

-17.8%

-8.2%

87,310

0.0%

88,400

-36.2%

3,187,576

nmf

1.0

22.8

0.9

nmf

7.0

11.2

1.5

UAE Rebased Performance

Summary

Best Performers 1,643 (-0.4%)

DFM Index (% Chg.)

135

2,513 (0.3%)

ADSM Index (% Chg.)

Advance/Decline Ratio

DFM Index 52 week High / Low

124

2,775 / 2,293 SIB.ADSM

ADSM Index 52 week High / Low

377,372

Turnover (AED '000)

Highest Turnover

108

105

A Arabtec Holding

S&P GCC Large/Mid Composite

18-Mar-12 Abu Dhabi SE

20,757,774

A Air Arabia

18-Apr-12

1.13

1.8%

0.90

1.1%

3.23

Sharjah Islamic Bank

Turnover (AED) 76,810,982 TAMWEEL Tamweel 43,045,009 AIRARABIA Air Arabia 30,296,409 UPP.DFM Union Properties

TATamweel

18-Feb-12

1.9% 1.3%

Worst Performers

E Emaar Properties

95 18-Jan-12

2.8%

3.21

399,239,847

Market Cap. (AED '000)

115

115

% Chg.

2.96

59% EMAAR.DF Emaar Properties 1.00 ALDAR.AD ALDAR Properties 1,754 / 1,301 ADCB.ADS Abu Dhabi Commercial Bank

% of stocks trading above 1yr avg. price

125

Close UNB.ADSM Union National Bank

17,601,384

D Dubai Financial Market

Close

% Chg.

1.24

0.65

0.44

ARKAN.AD Arkan Building Materials Co.

0.96

ADIB.ADSM Abu Dhabi Islamic Bank

3.17

-9.5%

-9.4%

-4.6%

-3.0% -1.9%

Dubai FM

Quotes Company Name

Close

2,577

0.0%

1.35

1.31

0.65

-9.4%

0.67

0.65

1.02

-

1.35

A Air Arabia

3.17

2.19

-

3.17 -

D du

3.21

0.0%

0.48

0.46

2,477

0.38

2,140

3.18

13,267

1.1% -

1.0% -0.9%

1.83 -

0.40

3.30

1.80 -

D Dubai Financial Market

1.14

-0.9%

1.17

1.14

D Dubai Islamic Bank

1.98

0.0%

2.00

1.98

E Emirates NBD

2.87

0.7%

2.89

2.83

E Emaar Properties E Etisalat

F First Gulf Bank

G Gulf Cement Co. M Mashreq

N National Bank of Abu Dhabi N National Bank of Fujairah

N National Bank of Umm Al Qaiwain S Sharjah Islamic Bank

S Sorouh Real Estate Co. T Tamweel

3.21

8.71

91.45

-

-

8.62

-0.1%

1.78

-

4.51

-

0.90

1.1%

1.24

-9.5%

0.44

-4.6%

1.11 2.96

U United Arab Bank

3.95

* Closing Prices, Turnover and Market Cap. in USD

0.4%

-0.2%

U Union National Bank U Union Properties

1.9%

9.20 1.08

31,892

-

39

0.47

0.39

20,758

0.95

D Dana Gas

D Deyaar Development Co.

1.14

0.98

0.96 2.75

1.63

-3.0%

A Arkan Building Materials Co. C Commercial Bank of Dubai

388

30,296

-

0.9%

2.8% -

3.24

8.80

9.25 -

-

8.63 -

-

2,191 -

17,601 2,724

-

0.42

5,820

98

-

-

1.1

-31.9%

4,616,196

-32.9%

5,442

4,105

15,140 1,372 141

206 -

64

-7.1%

0.20

-14.3%

83.1%

3.63

1.46

2.31

2.80

4.63

1.56

9.00

2.34

-33.8%

-11.6%

0.68

-21.9%

1.88

-14.3%

2.65

-38.0%

-14.4%

0.67

7.38

-22.2%

-4.6%

-30.8%

-10.3% -4.2%

-4.0%

2,253,420

nmf

0.6

14,674,286

13.4

9,120,000

7,518,167

1.7

27,600,000

7.4

1.0

18.8

1.3

-24.5%

22.4%

886,785 -

2.1%

33,398,694 2,848,000

16.5%

0.24

3.28

-11.3%

70.2%

-21.0%

8.5%

25.3% -1.1%

-21.0%

nmf

0.7

1.3

8.9

0.9

2,182,950

8.7

2.4

0.5

8.7

0.5

4.9

0.7

1,240,000

12.2

1,478,050

nmf

3,935,785

0.5

9.0

17.7

7,387,050

105.6%

1.1%

6.3

4,961,000

-7.8%

-24.1%

-16.8%

0.8

11.8

2.4%

2.82

7.4

2.4

1.2

68,862,479

15,950,813

2,913,750

0.53

nmf

0.4

-16.7%

-23.4%

7.1%

6.1

0.6

30.6%

-11.8%

1.4

1.0

10.9

2.2%

6.3%

1.7

19,552,876

19.1%

-0.9%

0.7

-6.4%

-21.4%

-9.9%

0.3

0.9

-23.9%

3.90

5.00

1.6%

12.6

1.1

6.8

3,102,941

-1.7%

33

-

20.0%

-2.4%

52.1%

nmf

5,605,468

-9.6%

7.2

1,680,000

2,664,662

-0.4%

-20.3%

8.7

19.6

-23.9% -27.9%

0.50

-5.7%

6.5

4,993,300

1.63 0.67

12,714

2.1%

24.9%

1.54 1.49

11.1%

35.7%

-8.0%

11,516 33,099

1.1%

0.46

0.80

43,045

nmf

-0.4%

1.02

2.96

1,530,000

-15.1%

0.34

3.00

12,821

0.0%

2.75

0.71

4.70

1.09

0.0%

22.8%

3.24

-

57

0.0%

4.4%

-

5,243

74.70

-

0.6

-41.5%

102.00

-

11.2

2,190,000

-5.0%

-

-

3,024,022

7,496,118

-24.5%

-42.9%

-

1,778

-14.5%

-0.5%

0.71

6.98

-

10.6%

1.68

10.75

8.61

-16.0%

41

1.69

1,003

-

1.1

115.5%

8.57

-

12.9

110.1%

11.20

-

8,403,750

-8.0%

1,216

-

-13.5%

0.0%

1.24

10,598

9,234

12.5%

0.3%

3.63

8.63

9.19

-17.2%

-32.7%

2.41

403

0.8

-10.7%

0.76

1.96

PB 6.0

8,931 1,208

PE

18,073,780

1.68

-

Trailing

Market Cap. (AED '000)

24.2%

-25.5%

-

12 mths

16.2%

2.02 0.57

YTD

-2.7%

2.94

0.77

3.49

1.24

-

13,419

2.92

23,962

1.36 0.47

-

3.55

76,811

0.90

2.96

29

3.17

0.90 1.13

on high

523

92

3.30

-

% Change

Low 2.60

3.44

-0.6%

1.82

-

52-Week High 3.32

15,167

3.34

A Aramex

3.16

Volume ('000) 797

1.11

1.15

A Arabtec Holding

1.13

-1.9%

1.8%

A Amlak Finance

Turnover (AED '000)

3.21

T Abu Dhabi National Energy Co.

A ALDAR Properties

Low

3.27

3.23

A Abu Dhabi National Hotels

High

1.3%

A Abu Dhabi Commercial Bank A Abu Dhabi Islamic Bank

Daily % Chg.

11.9

0.5 0.6

1.9

STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY thursday, april 19, 2012

QATAR Rebased Performance

Summary

Best Performers 8,717 (0.0%)

DSM Index (% Chg.)

120

Advance/Decline Ratio

115

Turnover (QAR '000)

458,762,296

Market Cap. (QAR '000)

10,406,778

IQIndustries Qatar

18-Mar-12

S&P GCC Large/Mid Composite

9,542,752

Q Qatar National Bank

18-Apr-12

130.00

1.4%

141.00

0.9%

77.50

Turnover (QAR) 21,216,702 ERES.DSMEzdan Real Estate Co. 19,545,887 DHBK.DSMDoha Bank

MMasraf Al Rayan

18-Feb-12

1.6%

0.3%

Worst Performers

B Barwa Real Estate Co.

90 18-Jan-12

1.9%

19.40

QIBK.DSM Qatar Islamic Bank

Highest Turnover

102

100

% Chg.

70.70

8,892 / 8,071 QTEL.DSM Qatar Telecom 339,342 IQCD.DSM Industries Qatar

DSM 52 week High / Low

110

Close

50% QNNS.DSMQatar Navigation 0.63 AHCS.DSMAamal Co.

% of stocks trading above 1yr avg. price

6,872,398

V Vodafone Qatar

Close

% Chg.

19.00

-3.6%

59.90

KCBK.DSMAl Khalij Commercial Bank

16.44

MARK.DSMMasraf Al Rayan

26.85

VFQS.DSM Vodafone Qatar

-1.6% -0.9%

8.60

-0.6%

-0.6%

Doha SM

Quotes Company Name

Close

A Aamal Co.

19.40

Daily % Chg.

High

1.6%

K Al Khalij Commercial Bank

16.44

-0.9%

C The Commercial Bank of Qatar

75.10

-0.5%

E Ezdan Real Estate Co.

19.00

-3.6%

B Barwa Real Estate Co.

28.00

D Doha Bank

59.90

Low

19.80

16.50

Turnover (QAR '000)

19.00

3,113

16.40

0.0%

28.15

27.90

-1.6%

60.80

59.90

2,769

19.60

75.10

4,301

19.00

539

0.9%

141.40

139.70

10,407

141.50

-0.1%

141.60

141.50

4,507

51.00

-0.4%

51.10

50.60

2,374

Q Qatar National Bank

134.20

0.0%

134.40

134.20

9,543

Q Qatar Telecom

130.00

1.4%

130.00

128.00

6,058

IQIndustries Qatar

141.00

Q Qatar Electricity & Water Co.

M Masraf Al Rayan

26.85

Q Qatar Gas Transport Co.

17.69

Q Qatar International Islamic Bank Q Qatar Islamic Bank

77.50

Q Qatar Navigation V Vodafone Qatar

-0.6% -

0.3%

70.70

1.9%

8.60

-0.6%

27.00 -

77.60 70.90 8.83

26.85

19,546

-

-

77.10

3,001

70.00

2,971

8.50

6,872

52-Week High

161

2,027

21,217

75.60

Volume ('000) 123

-19.5%

33.75

28.00

-17.0%

67.00

50.00

-10.6%

85.50

28

24.97

16.06

68.00

18.60

74

148.50

118.80

32

148.00

129.50

47

56.20

45.50

727 -

15.40

57

46

on high

24.09

18.68

757

% Change

Low

39

28.10

22.50

18.63

85.30

19.5

1.6

-6.5%

-17.0%

10,895,490

9.0

0.9

-6.6%

16.3%

12,381,198

10.0

1.7

-4.0%

77,550,000

9.8

3.0

-3.7%

14,150,000

10.9

4.7

8.9%

7,719,806

11.5

1.7

93,903,691

12.0

-4.3%

-11.3%

-23.9%

-14.4%

-20.5%

-4.4%

-3.6%

12.6%

1.0%

-4.6%

5,918,400

4.3%

6.0% 1.4%

18,583,223

50,397,437 20,137,500

1.1

9.9

1.3

nmf

1.8

14.3

2.4

-8.1%

-3.4%

18,312,723

69.40

-19.2%

-7.6%

-15.2%

8,096,932

11.5

0.8

7.24

-6.7%

13.9%

8.2%

7,270,440

nmf

1.1

168.50

127.70

-9.3% -5.3%

-22.8%

-5.6%

-2.9%

9,797,500

12.1

-9.1%

47

9.22

9,603,000

-10.6%

-4.4%

PB

8.9%

-12.2%

-5.1%

Trailing PE

76.30

122.73

794

22.0%

Market Cap. (QAR '000)

-5.0%

141.73 87.50

12 mths

16.59

71 42

-12.0%

YTD

7.2%

-7.7%

-12.8%

29,744,000

11.8

6.7

12.8

1.7

2.3

11.5

1.4

OMAN Rebased Performance

Summary

Best Performers 6,008 (0.4%)

MSM Index (% Chg.)

120

% of stocks trading above 1yr avg. price Advance/Decline Ratio

115

Turnover (OMR '000)

7,093,214

Market Cap (OMR '000)

107

281,859

O Oman Telecommunications Co.

18-Mar-12

S&P GCC Large/Mid Composite

196,778

N National Bank of Oman

18-Apr-12

0.63

0.5%

0.62

0.5%

0.30

Turnover (OMR) 1,574,874 BKDB.MSMBank Dhofar 450,335 OTEL.MSMOman Telecommunications Co.

R Renaissance Services

18-Feb-12

0.9%

0.3%

Worst Performers

B Bank Muscat 90 18-Jan-12

3.7%

1.11

NBOB.MSMNational Bank of Oman

Highest Turnover

100

% Chg.

0.65

6,372 / 5,419 BKMB.MSMBank Muscat 7,760 OCOI.MSM Oman Cement Co.

MSM 52 week High / Low

110

Close

47% RNSS.MSMRenaissance Services 2.50 RCCI.MSM Raysut Cement Co.

153,462

O Oman Cement Co.

Close

% Chg.

0.46

-1.7%

0.30

0.3%

1.28

NBOB.MSMNational Bank of Oman OCOI.MSM Oman Cement Co.

-0.2%

0.62

BKMB.MSMBank Muscat

0.5%

0.63

0.5%

Muscat SM

Quotes Company Name

Close

Daily % Chg.

High

B Bank Dhofar

0.461

-1.7%

N National Bank of Oman

0.303

0.3%

O Oman Telecommunications Co.

1.282

-0.2%

R Renaissance Services

0.648

3.7%

B Bank Muscat

0.634

O Oman Cement Co.

0.622

R Raysut Cement Co.

1.110

Low

0.466

Turnover (OMR '000)

Volume ('000)

0.460

101

0.301

197

1.278

282

0.625

1,575

0.637

0.631

0.5%

0.627

0.619

153

1.110

50

0.9%

0.305

1.285

1.111 0.659

High

219

450

0.5%

52-Week

% Change

Low

0.549

on high

0.423

-16.0%

0.291

-6.5%

710

0.679

0.572

247

0.622

0.416

649

0.324

220

1.425

45

1.110

2,429

1.081

-15.7%

-2.9%

-0.3%

-4.8%

0.0%

44.0%

0.0%

46.1%

-10.0%

0.458

-40.1%

12 mths

1.3%

-6.6%

1.041

0.711

YTD

Market Cap. (OMR '000)

Trailing PE

PB

507,154

12.6

335,732

9.8

-4.4%

1,139,167

3.7%

205,803

16.1

222,000

14.8

-2.1%

15.4%

18.9%

-40.1%

961,500

1.3%

182,797

2.2

9.7

1.3

1.2 1.4

8.6

1.9

2.2

nmf

1.1

BAHRAIN Rebased Performance

Summary

Best Performers 1,154 (0.8%)

BSE Index (% Chg.)

120

16% AUB.BSE Ahli United Bank - BATELCO.BBahrain Telecommunications Co.

% of stocks trading above 1 yr avg. price Advance/Decline Ratio

115

1,407 / 1,129 BBK.BSE 110 #N/A

BSE 52 week High / Low Turnover (BHD '000)

110

6,523,858

Market Cap. (BHD '000)

Highest Turnover

101

100

A Ahli United Bank

18-Mar-12

8,000

S&P GCC Large/Mid Composite

6,239

IT Ithmaar Bank

18-Apr-12

-

B Albaraka Banking Grp.

Bahrain SE

1.7%

0.47

0.4%

0.40

0.0%

#N/A

#N/A

#N/A

#N/A

Turnover (BHD) 39,543 BBK.BSE BBK 8,768 BATELCO.BBahrain Telecommunications Co.

B BBK

18-Feb-12

#N/A

% Chg.

0.61

#N/A

Worst Performers

B Bahrain Telecommunications Co.

90 18-Jan-12

#N/A

BBK

Close

AUB.BSE

Ahli United Bank

BARKA.BS Albaraka Banking Grp. #N/A

Close

% Chg.

0.40

0.47 0.61

0.93 -

#N/A

#N/A

0.0%

0.4%

1.7% #N/A

Quotes Company Name

Close

Daily % Chg.

High

A Ahli United Bank*

0.610

1.7%

A Arab Banking Corp.*

0.420

-

B Albaraka Banking Grp.* B Bahrain Islamic Bank

B Bahrain Telecommunications Co. B BBK

IN Investcorp Bank*

IT Ithmaar Bank*

N National Bank of Bahrain U United Gulf Bank

* Closing Prices, Turnover and Market Cap. in USD

0.930 0.088

-

0.474

0.4%

797

-

0.400

0.0%

0.100

0.0%

0.304

-

0.550

-

Low

0.610

0.600

-

-

-

Turnover (BHD '000)

-

-

-

-

0.472

-

-

-

-

-

0.400

0.100

0.100

-

-

-

23 -

-

0.474 0.400

Volume ('000)

-

38

40

-

8

17

-

83 20

52-Week High

% Change

Low

0.680

0.599

0.530

0.420

1.089 0.116

0.488 0.428 797

1.2%

12 mths

3,192,469

-26.3%

1,306,200

-3.3%

682,560

-0.4%

-14.6%

0.082

-24.1%

-2.2%

-24.1%

0.380 0.390 797

0.065

-

0.424

0.270

0.550

-20.8%

0.0%

Market Cap. (BHD '000)

-6.6%

-14.6%

0.100

0.600

-10.3%

YTD

0.857

150 -

on high

943,462

nmf

0.8

340,542

10.6

0.0%

-30.0%

637,560

-4.3%

-8.3%

470,448

0.0%

53.8%

-28.3%

1.3%

-8.3%

0.0%

-25.1%

1.3

82,691

0.0%

-6.1%

10.3

0.8

20.9% -3.4%

PB 8.0

-2.9% -6.5%

Trailing PE

267,776

253,707

6.4

0.4

8.5

1.3

4.5

0.6

10.3

1.7

nmf

nmf

1.4 0.5 1.2

LIFE

Seniors need their nutrients

Everyone should eat a healthy, balanced and nutrient-rich diet, especially seniors, who have special nutritional needs. The Academy of Nutrition and Dietetics says these nutrients are especially important as we get older: •Vitamin D and calcium, through fortified foods, low-fat dairy products, leafy green vegetables and fish.

•Vitamin B12, through fish, seafood, lean meats and vitamin B12-fortified cereals.

•Fiber, through fruits, vegetables and whole grains.

•Potassium, through fruits, vegetables and low-fat dairy products.

•Polyunsaturated or monounsaturated fats, rather than saturated or trans fats.

THURSDAY, april 19, 2012

‘Rogue’ alien planets may circle billions of stars WASHINGTON: Billions of stars in our Milky Way galaxy have captured rogue alien planets that once cruised freely through interstellar space, a new study suggests according to SPACE. Many wandering alien worlds, which were ejected from the solar systems in which they formed, likely find new homes with different suns, according to the study. The finding could explain why some alien planets orbit extremely far from their stars, researchers said.

“Stars trade planets just like baseball teams trade players,” study lead author Hagai Perets, of the Harvard-Smithsonian Center for Astrophysics, said in a statement.

Simulating star clusters

FILE - In this artist’s conception, a captured alien planet drifts at the outer edge of a distant star system, so far from its sun-like host that the star’s disk is barely resolvable at upper right. New research shows that one in 20 stars in our galaxy might have captured a freefloating planet. (AFP)

Perets and co-author Thijs Kouwenhoven of China’s Peking University simulated the evolution of young star clusters containing about as many free-floating planets as stars.

They found that 3 to 6 percent of the stars would grab a rogue over time. The more massive a star, the more likely it is to snag a planet.

They studied young star clusters because capture is more likely when stars and rogue planets are crowded together. Over time, close interactions between stars cause clusters to disperse, so any planet-star encounters

have to happen early in the cluster’s history, researchers said.

Rogue planets are a natural consequence of star formation. Newborn solar systems often contain multiple planets. One or more of these worlds can be ejected as a result of planet-planet interactions, becoming interstellar travelers.

Scientists think such roamers are common throughout our Milky Way galaxy. One study last year, for example, estimated that rogues outnumber “normal” alien planets with obvious parent stars by at least 50 percent, and that they’re nearly twice as common as mainsequence stars like our sun.

Rogues don’t have to stay parentless forever, however. They can latch onto a different host star if it’s traveling in the same direction at about the same speed, researchers said.

Captured planets generally end up hundreds or thousands of times farther from their new stars than Earth is from the sun. They’re also likely to have orbits that are tilted relative to any “native” planets, and they may even revolve around their stars “backward,” researchers said.

Finding captured rogues

Astronomers have yet to detect any clearcut cases of captured rogues. Imposters can be

How end of shuttle era could usher in new space age COLORADO SPRINGS, Colo.: On Tuesday, NASA delivered the space shuttle Discovery to its new home in Washington, D.C., marking the true beginning of the end to the agency’s venerable shuttle program. But more than 1,600 miles away (2,575 kilometers), NASA’s chief heralded the beginning of a new age of space exploration according to SPACE. “Just because the shuttle is retired doesn’t mean NASA is shuttered - far from it,” NASA administrator Charles Bolden told the audience here at the 28th National Space Symposium.

“I believe the best is yet to come. Our bigger dreams are just starting to come to fruition.”

After 135 flights, the agency retired its space shuttle program to focus on the development of a new capsule and rocket for deep space exploration. The mothballed orbiters will now be placed on display at museums across

the country.

Discovery, the most-flown shuttle in NASA’s fleet, was the first to be delivered its museum destination. The workhorse orbiter will now be placed on public display at the Smithsonian National Air and Space Museum’s Steven F. Udvar-Hazy Center in Chantilly, Va. Discovery was flown piggyback on a modified Boeing 747 jet Tuesday from NASA’s Kennedy Space Center in Florida to Washington Dulles International Airport. “[T]his morning, we accomplished an incredible milestone in a series of milestones as we phase out the most incredible program, probably, in the history of human spaceflight,” Bolden said.

The shuttle prototype vehicle, Enterprise, will be the next to travel to its new home. Enterprise was previously housed at the Udvar-

Hazy Center, but it will now be moved to the Intrepid Sea, Air and Space Museum in New York on April 23. The shuttle Endeavor will travel to the California Science Center in Los Angeles later this year. Atlantis, the third remaining space-flown orbiter, will be placed on display at the Kennedy Space Center Visitors Complex. The handoff of Discovery, and the beginning of its new life on public display, represents a transfer of the space shuttle program from NASA to the American public and the rest of the world, Bolden said.

But the end of the shuttle program does not mean that NASA is slowing down, he added.

Bolden listed the various robotic science missions that are still ongoing, including the Cassini spacecraft at Saturn, the planet-hunting Kepler space telescope, and the Mars Reconnaissance Orbiter at the Red Planet.

He also highlighted upcoming milestones, such as the Curiosity rover’s scheduled landing on Mars in August, the Juno spacecraft’s arrival at Jupiter in 2016, and the launch of the JamesWebb Space Telescope - a sophisticated observatory that is being billed as the successor to the Hubble Space Telescope - in 2018.

The agency is also developing a new heavylift launch vehicle, called the Space Launch System, and a capsule, called the Multi-Purpose Crew Vehicle, that will be used for deep space exploration missions.

Bolden also discussed continuing efforts to help private companies develop a new fleet of spacecraft to ferry supplies - and one day, astronauts- to and from the International Space Station. On April 30, California-based SpaceX is slated to launch its unmanned Dragon capsule on a test flight to rendezvous and dock

Vitamin D linked with lower risk of deadly prostate cancer NEW YORK: Vitamin D does not protect men from getting prostate cancer, but it may lessen their chances of dying of it according to LiveScience.

In a new study, men with the highest levels of vitamin D in their blood were 57 percent less likely than men with the lowest levels to succumb to prostate cancer.

However, no link was found between vitamin D levels and having prostate cancer, the researchers said.

“Prostate cancer is a very heterogeneous disease,” said study researcher Irene Shui, an epidemiologist at the Harvard School of Public Health. Some tumors progress quickly, spreading to other sites in the body and causing death, while others stay within the prostate for years and never affect a man’s health or life.

It remains unclear exactly why vitamin D would lower men’s risk of dying from prostate cancer if it has no influence at all on the risk of developing the cancer, Shui said.

It may be that vitamin D specifically influences the cancer cells’ abilities to progress to later stages of the disease and spread through the body, but not the actual initiation of the cancer, she said.

Still, the study was observational, and it does not show a cause-and-effect link between vitamin D and prevention of deadly prostate cancer.

Vitamin D and prostate cancer

“There is abundant laboratory evidence that vitamin D may have anticancer properties,” Shui said. But while studies conducted on prostate cancer cells growing in lab dishes have shown that vitamin D may thwart cancer’s progression, studies in people have shown that high levels of the vitamin don’t lower a man’s risk of getting cancer of the prostate, the gland surrounding a man’s urethra.

For their study, the researchers gathered data from

men who had provided blood samples between 1993 and 1995 as part an ongoing study at Harvard University. The researchers looked at 1,260 men who had developed prostate cancer by 2004, and 1,331 men who were the same age but didn’t develop the disease.

By March 2011, when the study ended, 114 of the men with prostate cancer had died. When the researchers looked at these men’s levels of vitamin D, they found that 31 of them were among the men with the lowest levels of vitamin D in the study, whereas only 19 of them were among the men with the highest levels of vitamin D in the study.

However, vitamin D levels made no difference in terms of developing any prostate cancer - 310 of the men with the cancer were in the group with the lowest vitamin D levels, and 333 of the men with cancer were among those with the highest levels.

difficult to rule out, since gravitational interactions within a solar system can throw native planets into wide, tilted orbits that mimic the signature of a captured world, researchers said.

Perhaps the best evidence to date in support of planetary capture comes from the 2006 discovery of two huge planets - 14 and 7 times more massive than Jupiter - orbiting each other without a star.

“The rogue double-planet system is the closest thing we have to a ‘smoking gun’ right now,” Perets said. “To get more proof, we’ll have to build up statistics by studying a lot of planetary systems.”

Finding a planet in a far-flung orbit around a low-mass star would be a good sign of capture, researchers said, because the star’s disk wouldn’t have had enough material to form the planet so far out.

Is it possible that our own solar system grabbed a wandering planet? Astronomers have peered at the outer reaches beyond the dwarf planet Pluto, and they haven’t found anything yet.

“There’s no evidence that the sun captured a planet,” Perets said. “We can rule out large planets. But there’s a non-zero chance that a small world might lurk on the fringes of our solar system.”

with the orbiting outpost.

If successful, SpaceX will be the first private company to accomplish the feat. “This will be a historic milestone,” Bolden said.

But the NASA chief also discussed the challenges facing the agency, including how to operate in an increasingly tight fiscal environment. In his fiscal year 2013 budget request, President Barack Obama set out $17.7 billion for NASA, with significant cuts to the agency’s planetary science department.

“Some tough decisions had to be made, but I believe we have the right balance to accomplish great things,” Bolden said. “Despite constrained economic times, we have made substantial choices - sustainable choices - to provide stability and continuity to existing priority programs, and set the pace for opening the next great chapter in exploration.”

So should men try to get more vitamin D?

While the results of this study need to be replicated in future research, Shui said, vitamin D has been shown to have numerous effects on health. “Men who are concerned that they may be deficient in vitamin D should speak with their physicians about taking supplements or eating more foods rich in vitamin D,” she said. The vitamin is also produced naturally by the skin when exposed to the sun. Getting about 30 minutes of sun exposure between 10 a.m. and 3 p.m. twice a week usually leads to sufficient vitamin D synthesis, according to the National Institutes of Health.

The study was limited in that most of the participants were white. “As vitamin D deficiency is even more prevalent in men of African descent, and this population also has a higher prostate cancer risk, studies conducted in men of other ethnicities would be helpful to see of our results are generalizable to those populations,” Shui said.

Optimism might cut your risk for heart attack CONNECTICUT: Being upbeat is good for your heart, a new study suggests according to HealthDay News. Many previous studies have shown that negative mental states -- such as depression, anger, anxiety and hostility -- can harm the heart.

This Harvard School of Public Health review of more than 200 studies found that positive feelings appear to reduce the risk of cardiovascular disease and events such as heart attack and stroke.

“The absence of the negative is not the same thing as the presence of the positive,” lead author Julia Boehm, a research fellow in the department of society, human development, and health, said in a university news release. “We found that factors such as optimism, life satisfaction and happiness are associated with reduced risk of [cardiovascular disease] regardless of such factors as a person’s age, socioeconomic status, smoking status or body weight.”

“For example, the most optimistic individuals had

an approximately 50 percent reduced risk of experiencing an initial cardiovascular event compared to their less optimistic peers,” Boehm noted.

The researchers also found that people with a sense of psychological well-being engaged in healthy behaviors such as exercising, eating a balanced diet and getting sufficient sleep. In addition, greater psychological well-being was associated with lower blood pressure, healthier blood-fat status and normal body weight.

If future research confirms that higher levels of satisfaction, optimism and happiness benefit cardiovascular health, the findings could prove important in the creation of prevention and treatment strategies, the researchers said.

More than 2,200 Americans die of cardiovascular disease each day (an average of one death every 39 seconds) and stroke accounts for approximately one in 18 deaths in the United States, according to the American Heart Association.

Brain changes may hamper decision-making in old age

CONNECTICUT: The ability to make decisions in new situations declines with age, apparently because of changes in the brain’s white matter, a new imaging study says according to HealthDay News.

The researchers asked 25 adults, aged 21 to 85, to perform a learning task involving money and also undergo MRI brain scans.

They found that age-related declines in decision-making are associated with the weakening of two specific white-matter pathways that connect an area called the medial prefrontal cortex (located in the cerebral cortex) with two other areas deeper in the brain, called the thalamus and the ventral striatum.

The medial prefrontal cortex is involved in decision-making, the ventral striatum is involved in emotional and motivational aspects of behavior, and the thalamus is a highly connected relay center.

“The evidence that this decline in decision-making is associated with white-matter integrity suggests that there may be effective ways to intervene,” study first author Gregory Samanez-Larkin, a postdoctoral fellow in Vanderbilt University’s psychology department and Institute of Imaging Science in Nashville, Tenn., said in a university news release.

“Several studies have shown that white-matter connections can be strengthened by specific forms of cognitive training.”

The spiderlike shape of Moscow appears at the center of this nighttime image taken by astronauts aboard the International Space Station. ISS crew members have a unique perspective on the Earth below them, flying at an altitude high enough to take in whole features and regions of the planet, but near enough to still make out interesting details.

Astronauts can capture images of the Great Barrier Reef (the world’s largest living structure, and the only living structure visible from space), Mount Everest and its fellow Himalayan peaks, the Grand Canyon in the US Southwest, and lit-up cities across the world. The ISS was at an altitude of about 240 miles (386 kilometers) when members of the Expedition 30 crew snapped this image on March 28. One of the station’s solar array panels takes up the left side of the image. Also seen in the image is the green glow of the aurora borealis, which astronauts often see from their lofty perch, and sometimes even fly through. Auroras occur in a region of the atmosphere between 60 miles (100 km) to 250 miles (400 km), which makes the ISS perfectly positioned to observe them. (AFP)

16

ALWATAN DAILY

CULTURE

thursDAY, april 19, 2012

Londoners grumble with 100 days to go to Olympics LONDON: With 100 days to go onWednesday until the Olympics start in London, there is some unhappiness in the British capital.

While the organizing committee LOCOG is well on track with almost all venues ready and tickets all but sold out, the city of eight million is complaining before the opening ceremony as people fear traffic chaos, terror attacks and believe money is being wasted.

Taxi drivers say they have too little work, tube drivers say they have too much. Hyde Park residents have gone to court fearing that public viewing in the park would be too loud.

Most pubs will have to close at 11 at night during the July 27-August 12 Games as police fear criminal elements.

“It is difficult to find somebody who is looking forward to the Olympics,” says Tim Reder, who lives in East London in Wanstead, close to the main Olympic venues in Stratford. All of this has prompted David Randall, who writes editorials for The Independent to make an appeal: “Come on Britain, stop grumbling.”

As much as the organizing committee LOCOG, newspapers and the host broadcaster BBC attempt to generate goodwill for the Games, they are finding the task rather difficult. Jonathan Edwards, who won Olympic gold in the triple jump in 2000 and now acts as go-between for the athletes and LOCOG, admitted that it was not easy but expressed optimism overall.

“We are experiencing difficult times in Europe and have been doing so for a few years.

That stifles the pleasant anticipation a bit,” he said. “Once they start, the country will rally behind them - totally and wonderfully.” A recent poll showed that some 10 million of the 60 million Britons will be leaving the country during the Olympics, with the majority of those naming the Games as the reason why they were leaving. Many are really worried about traffic chaos in London at that time. The London

FILE - The five Olympic rings adorn London’s St. Pancras International main line railway station. Not everyone in the city is looking forward to two weeks of Olympic games. (dpa)

undergorund (tube) system is the oldest in the world and many trains and stations remain in dire need of an overhaul, even though 6.5 billion pounds (100 billion dollars) was invested in the system in recent years.

The Jubilee Line, which is one of the main lines running between the Olympic Park and

Nepalis living in the shadow of melting glaciers

BAHRABISE, Nepal: Devi Maya Tamangni watches the river rage just a few metres below her one-room house in a barren highland valley of Nepal. The 42-year-old mother scrapes a living from it by sifting sand to sell to construction companies.

“We have no time to think about a flood,” she says. “I pay the government 250 rupees (2.5 dollars) every month as rent for this land. I live here because I have nowhere else to go.” But her village of Larcha is among those threatened by melting glaciers as average temperatures rise.

There are hundreds like her in the upper Bhotekoshi basin of Sindhupalchowk district, 100 kilometers north-east of Kathmandu, including children who study in school buildings next to the river. A flash flood in 1996 killed 54 people in the village, wiped out 22 houses and caused massive damage in the area.

Deadly floods are not uncommon in Sindhupalchowk, which shares its border with China.

The Arniko highway passes through the district, the only highway connecting Nepal and China. Scientists say the people in the region are under severe threat, as global warming is causing the glaciers to melt fast, increasing the threat of their lakes bursting their banks.

In the nearby trading town of Bahrabise, residents attribute natural calamity like floods to the anger of the gods. The basin experienced three glacial lake outbursts in the last century.

The first occurred in 1935, when the Tara Co Lake burst its natural dam. Although there were no human casualties, the flood killed livestock and damaged farmland, leaving behind a trail of debris that made cultivation impossible in some parts of the valley.

The Zhangzangbo lake breached its banks in 1964 and in 1981.”It was close to midnight and I noticed the water had risen as far as the bridge,” says Dhanbahadur Shrestha, 69, who was making preparations for his daughter’s wedding the last time.

“My friends and I had only stepped off the bridge, and it got swept away,” he explains, speaking over the sound of the roaring Sunkoshi river. “We couldn’t believe we were alive!”

The flood swept away five people, 41 houses, water mills, and two major bridges, including the Friendship Bridge that connects Nepal and China. Hundreds were injured and several houses damaged. The flood also damaged the Sunkoshi hydroelectric station, 150 kilometres downstream.

“We climbed to the highest point of the station and stayed there all night, waiting for the water to recede,” says Ramlal Parajuli.

“We couldn’t figure out where the water had come from, but there was so much of it everywhere.” The flood brought down boulders measuring up to four metres in diameter, which remain parked at several places along the rivers.

“The difference between the impact of a glacial lake outburst and a cloudburst is that the first brings down with it heavy debris, like trees, boulders, while sweeping away everything on its path,” says Pradeep Mool, a scientist working with International Centre for Integrated Mountain Development.

While the basin has seen no major flood since 1996, the population in the area has been growing quickly.

A study conducted by the centre said that another outburst like the one in 1981 would affect about 900 households and about 5,800 people. Scientists predict one of a stronger magnitude could occur.

There are more than 3,200 glaciers in Nepal and studies say that 14 glacial lakes are at risk of bursting their natural dams made of glacier debris from rapid melting.

The two major glacial lakes threatening to burst their banks are located on the Chinese side bordering Sindhupalchowk, which put Nepal at risk downstream.

“Political will is needed to solve this problem,” Mool says. “If the two sides deal with it politically, and spend 5 to 7 million dollars to mitigate the glacial outburst and put in an early warning system for the flash flood, it is possible to avert the danger to some extent.” But infrastructure in the area is poor and no warning system is in place for residents, who are mostly unaware of the threat from the mountains above them.

“If a flood comes, it comes, what can one do about it?”

Tamangni says. -dpa

the inner city, received a new signaling system, but instead of leading to improvements, this has resulted in regular delays. The road system is even more antiquated and multi-lane highways that bypass city centers, which occur in other large cities in Europe, are conspicuous by their absence. The International Olympic

Committee has managed to secure some 30 miles of innercity lanes that only the Olympic family are allowed to use - to the detriment of bus and taxi drivers.

Fourty per cent of the 25,000 taxi drivers say they will not work during the Olympics unless they are allowed to charge the higher

nightly rates during the day - this in compensation for lost fares during traffic jams.

“We are confident that our system will be able to handle the volume during the Games,” said the Transport for London official for the Olympics, Mark Evers. But even once the Olympic spectator has managed to fight his way from his hotel to the stadium, it seems unlikely that he will escape the traditional English pastime of standing in queues.

Olympic officials are petrified of terror attacks and the horror of the attacks on the underground and a bus on July 7, 2005 - one day after being awarded the Games, remains.

Policemen have twice managed to smuggle explosives through Olympic controls and a recent protester, who managed to interfere with the Oxford-Cambridge Boat Race, has not given rise to heightened confidence. Although Scotland Yard has said that the Games will not be “Security-Games,” they are gearing up for it. A warship will be stationed on the Thames, Eurofighter jets stand ready in a hanger close to London and ground-to-air missiles have been readied.

23,000 security personal, 13,000 of them soldiers, are meant to ensure safe Games. The number of soldiers involved in the Olympics is higher than the number of British troops in Afghanistan. Security concerns have further increased the costs. Although the government and organizers are budgeting for 9.3 billion pounds (14.7 billion dollars), critics are expecting costs to be higher.

Labor MP Margaret Hodge expects costs to be 11 billion pounds. She has criticized expensive advertising campaigns, like the government’s attempts to promote regular sport, which costs 400 million pounds. But it has not been money well spent, as only some 110,000 Britons have followed the call. The majority continue to prefer spending their leisure time in the pub. -dpa

Sri Lankan held for ‘witchcraft’ in Saudi Arabia JEDDAH: A Sri Lankan woman has been arrested on suspicion of casting a spell on a 13-year-old girl during a Saudi family’s shopping trip, a police spokesman said on Wednesday, and may face death in a country where convicted sorcerers are beheaded.

The spokesman, Mesfir Al-Juayed, confirmed to Reuters by phone that details of the woman’s arrest published in local media were correct.

The daily Okaz reported that a Saudi man had complained his daughter had “suddenly started acting in an abnormal way, and that happened after she came

close to the Sri Lankan woman” in a large shopping mall in the port city of Jeddah. “He reported her to the security forces, asking for her arrest and the specialized units dealt with the situation swiftly... and succeeded in arresting her,” Okaz reported on Wednesday.

Saudi Arabia, a US ally, is an absolute monarchy that has no written criminal code and where court rulings are based on judges’ interpretation of Islamic Sharia law.

“The punishment is always beheading for anyone found guilty of witchcraft,” a Saudi lawyer and hu-

man rights activist, Waleed Abu Al-Khair, told Reuters by phone. In December, Amnesty International condemned the beheading of a woman in Saudi Arabia convicted on charges of “sorcery and witchcraft,” saying it underlined the urgent need to end executions in the kingdom.

Amnesty said the execution was the second of its kind last year. A Sudanese national was beheaded in the Saudi city of Medina in September after being convicted on sorcery charges, according to the Londonbased group. -Reuters

Stonehenge’s swedish ‘sister’ draws skepticism

FILE - An ancient megalithic structure shaped like a ship in Sweden seems to have a similar geometry to Stonehenge, and may have been used as an astronomical calendar, one scientist says. (Agencies)

NEW YORK: Ancient Scandinavians dragged 59 boulders to a seaside cliff near what is now the Swedish fishing village of Kåseberga. They carefully arranged the massive stones - each weighing up to 4,000 pounds (1,800 kilograms) - in the outline of a 220-foot-long (67meter) ship overlooking the Baltic Sea according to LiveScience. Archaeologists generally agree this megalithic structure, known as Ales Stenar (“Ale’s Stones”), was assembled about 1,000 years ago, near the end of the Iron Age, as a burial monument. But a team of researchers now argues it’s really 2,500 years old, dating from the Scandinavian Bronze Age, and was built as an astronomical calendar with the same underlying geometry as England’s Stonehenge.

“We can now say Stonehenge has a younger sister, but she’s so much more beautiful,” said Nils-Axel Mörner, a retired geologist from Stockholm University who co-authored the paper on the interpretation, published in March in the International Journal of Astronomy and Astrophysics. Other researchers familiar with the site are skeptical.Among other arguments, they cite the results of carbon dating to reject Mörner’s interpretation. Mörner says his team observed that the sun rises and sets at specific points around Ales Stenar at the summer and winter solstices, hinting that an ancient culture could have built it as an astronomical calendar to time things like annual religious ceremonies or planting and harvesting crops.

They also observed that certain aspects of the stone ship’s geometry matched those of Stonehenge, a Bronze Age monument that some enthusiasts believe was used as a calendar. (Those claims are contentious, and there are many other theories of Stonehenge’s original purpose.)

The similarities led Mörner to propose the mysterious stone structure of Sweden was a Stonehenge-inspired astronomical calendar constructed by a Bronze Age Scan-

dinavian community that regularly traveled and traded throughout Europe and the Mediterranean.

“The first thing is to see that, yes, it’s a calendar,” Mörner told LiveScience. “But Ale’s Stones also tells us a lot more than we knew before about trading and travel in the Bronze Age among Scandinavia, England and Greece.” Other researchers are not convinced.

“The idea that the stone ship might have been an astronomical calendar has no supporters among academic archaeologists,” said Swedish archaeologist Martin Rundkvist, managing editor of the archaeology journal Fornvännen.

Rather, Ales Stenar was probably an ornate grave marker, he said. The Swedish countryside is home to many similar megalithic structures, which are generally known as stone ships. Most of them date back to Sweden’s Late Iron Age (approximately A.D. 500-1000), and they serve as burial monuments, Rundkvist said.

Archaeologists using radiocarbon dating have calculated that Ales Stenar was built about 1,400 years ago, near the end of Scandinavia’s Iron Age - long after the construction date estimated by Mörner’s team.

Ales Stenar was built by members of a warlike community of seafarers who used oxen, slaves, rope, sleds, wooden spades and simple steel tools to collect and raise the huge boulders, Rundkvist said. “This was the world of Beowulf,” Rundkvist said, referring to the epic poem set in Iron Age Scandinavia. Ships were an important part of life in this nautical culture, which may have inspired communities to mark the graves of important people with stone ships, some scholars say.

Rundkvist believes there’s no evidence for anything beyond that - including Mörner’s Stonehenge theory.

“New Age mystics like standing stones,” Rundkvist told LiveScience.

Women still confront yawning gender wage gap

NEW YORK: In most common occupations women still make less than men doing the same job for an equal amount of hours, according to new data released on Tuesday. Overall they earn 77 cents for each dollar made annually by men and in some professions such as financial managers the number drops to 66 cents.

“These gender wage gaps are not about women choosing to work less than men - the analysis is comparing apples to apples, men and women who all work full time - and we see that across 40 common occupations, men nearly always earn more than women,” said Ariane Hegewisch, a study director at the Institute for Women’s Policy Research (IWPR), a non-profit research organization. She added that the reasons are varied but discrimination law cases show that women are less likely to be selected for the best jobs, they get hired at a lower rate and don’t get equivalent raises to men over the years. “Discrimination in who gets hired for the best jobs hits all women but particularly black and Hispanic women,” Hegewisch explained. The findings, based on an analysis of earnings data for full-time workers from the US Bureau of Labor Statistics, showed that in 2011 the median weekly wage for fulltime female workers was $684, compared to $832 per week for men.

In the 20 most common occupations for women in every job, except bookkeeping and auditing clerks, women earned less, according to the report. The same held true for traditional occupations for men, apart from stock clerks and orders fillers. More than twice as many women, 5.52 million, as men, 2.3 million, work in occupations paying poverty wages for a family of four, along with four out of 10 Hispanic women. Three women’s jobs – cashiers, waitresses and maids – and two men’s occupations – cooks and ground maintenance workers – have salaries that put a family of four below the poverty.

“It is shocking that important occupations such as teaching assistants or nurses, psychiatric and home health aides, stressful and responsible jobs that are critical to the well being of our society, are likely to leave a woman unable to support her family even when she works full time and year round,” said Dr. Heidi Hartmann, the president of the IWPR. Hispanic women have the widest gender wage gap, according to the report. Their median weekly wage of $518, is 55 percent of what white men earn, compared to black women whose median earnings are $595, or 64 percent of a white man’s wages. -Reuters

ALWATAN DAILY

entertainment Song Of The Day

Fahad AlSabah Staff Writer

Song: Payphone (Feat. Wiz Khalifa) Artist: Maroon 5 Album: Overexposed Genre: Pop/Alternative In short: Overexposed, Maroon 5’s fourth studio album, is set to be their most pop-infused record of their career, and judging by the lead single, they weren’t shy about really going for it. “Payphone” is a big, anthemic number that’s to be served to radio stations on a silver platter as it is everything a radio hit needs to be in this age.

To listen to the song visit www.alwatandaily.com E-mail your feedback to falsabah@alwatandaily.com

The Buzz

thursDAY, april 19, 2012

Rapper G. Dep convicted in 1993 NYC shooting NEW YORK: Rapper G. Dep stunned police by suddenly confessing to a nearly 20-year-old shooting, then went to trial arguing that his admission might have been mismatched to a murder.

The rapper, who flirted with fame in the late 1990s and early 2000s, was convicted Tuesday in an unusual cold case that he both reopened and ultimately fought, though he never contested his December 2010 admission. Indeed, he and his lawyers characterized it as a bid to unburden and redeem himself.

The 37-year-old rapper hugged his lawyer after hearing the jury’s verdict, which leaves him facing at least 15 years in prison at his sentencing, set for May 8.

Regardless, he remains convinced he did the right thing by coming forward, defense lawyer Anthony Ricco said.

“He has a conscience and a heart, and his conscience and his heart brought him to where he is today,” Ricco said after court. “. He’s probably making the most powerful statement a rapper of his era can make, which is to be accountable and to do the right thing.” Prosecutors, though, saw G. Dep as a man who’d committed a deliberate and deadly crime, then provided the proof years later.

The rapper, born Trevell Coleman, made his surprise confession in late 2010, almost a decade after his career’s brief heyday. As part of rap impresario Sean “Diddy” Combs’ roster of talent at Bad Boy Records in the late 1990s and early 2000s, G. Dep scored a rap-chart hit with “Special Delivery,” and the video for his “Let’s Get It” helped popularize a looselimbed dance called the Harlem shake.

His career lost steam, and his life spiraled into disarray and

FILE - Trevell Coleman, a rapper known as G. Dep, says he shot someone two decades ago. (Agencies)

a slate of arrests on drug, trespassing and other charges. But he had finished a drug-treatment program and had released a new album online in the months before he went to a police precinct to say he’d fired at someone on a Harlem corner when he was about 17 to 19.

The victim had grabbed the rapper’s .40-caliber gun, and

Police arrest guard, recover Tom Petty guitars

The Band’s Helm in ‘final stages’ of cancer battle Levon Helm, a former member of The Band, is in the final stages of his long battle with cancer. A message posted Tuesday on the 71-year-old musician’s website by his family says “Levon is in the final stages of his battle with cancer.” Helm was diagnosed with throat cancer in 1998 and the illness reduced his voice to a whisper. But he still continued to sing on albums and at rollicking concerts at his Woodstock home.

Helm was a key member of The Band and lent his distinctive Southern voice to classics like “The Weight” and “The Night They Drove Old Dixie Down.” -AP

George Jones postpones shows due to health George Jones needs more time to recover from a recent upper respiratory infection. The 80-year-old country music singer is postponing his upcoming shows on April 20 and 21 in Minnesota and South Dakota. A statement from Jones’ publicist, Kirt Webster, says doctors have advised Jones to continue resting at his Tennessee home for another week. The shows will be rescheduled. Jones says in the statement that he never wants to cancel a show, but he has to do what the doctors tell him. He thanks all the fans from the bottom of his heart for their prayers and says he looks forward to seeing them on the road soon. Jones was hospitalized for nearly a week earlier this month. The Country Music Hall of Fame member is known for dozens of classic hits including “He Stopped Loving Her Today” and “White Lightning.” -AP

Paul McCartney turns down president in Paraguay Paul McCartney has turned down the offer for a presidential tour of Paraguay’s government palace in the capital of Asuncion. President Fernando Lugo tells reporters he invited McCartney to “to visit the palace of government and take a tour of historic places in the city, but he did not accept” due to tight schedule. Lugo doesn’t hold it against the former Beatle. He said he hoped Paraguayans turn out for McCartney’s Tuesday night show. Organizers say all 30,000 tickets have been sold. -AP

Pop singer Jason Mraz has unclaimed money West Virginia’s treasurer wants Jason Mraz to come pick up his money. Treasurer John Perdue said Tuesday the pop singer’s name is on a list of people due unclaimed property in the state. Perdue didn’t specify how much money but says it may have to do with Mraz’s September 2010 concert at the Clay Center in Charleston. The treasurer’s office says it’s made unsuccessful attempts to contact Mraz’s management.

A representative for Mraz didn’t immediately return a message left by The Associated Press. -AP

Nick Jonas records How to Succeed cast album

FILE - Photo dated Feb. 3, 2008 shows US musician Tom Petty performing during halftime at Super Bowl XLII at the University of Phoenix Stadium in Glendale, Arizona. (AFP)

CULVER CITY: It was a heartbreaker for Tom Petty and the band when someone stole five of their precious guitars from a soundstage, but it was music to their ears when police in Southern California announced Tuesday that the instruments had been recovered and a security guard was under arrest.

Police identified the arrested man as Daryl Emmette Washington, 51, of Los Angeles, a private security guard at The Culver Studios lot.

Police Chief Don Pedersen said the break in the case came when the suspect pawned one of the guitars at a Hollywood pawn shop for $250.

“Mr. Petty would have joined us, but he’s preparing for a concert in Denver,” said Pedersen, who described the stolen guitars as collectively worth $100,000.

A message seeking comment from the band’s publicist, Jim Merlis, was not immediately returned.

The instruments were reported stolen last Thursday from The Culver Studios, a sprawling complex of soundstages west of downtown Los Angeles where Tom Petty and the Heartbreakers had been rehearsing for an upcoming tour. The instruments were Petty’s blond 1967 maple 12-string Rickenbacker and his Gibson SGTVJunior, Mike Campbell’s blue Dusenberg, Ron Blair’s Fender Broadcaster and Scott Thurston’s 1967 Epiphone Sheridan. On its website, the band offered a “no questions asked” $7,500 reward for information leading to the return of the instruments.

Their return comes as the band prepared to kick off their tour Wednesday in Broomfield, Colorado. -AP

he pulled it back and fired at the man three times, G. Dep told authorities in a recorded statement played during his trial. After the gunfire, he said, he rode off on a bicycle, unsure whether the man had been struck. G. Dep didn’t testify at trial.

Authorities paired his account with the 1993 death of John Henkel, 32. Henkel was shot three times with a .40-caliber gun at the same corner in October 1993, when G. Dep was nearing his 19th birthday.

“The more you study the evidence . you’ll see it just matches up too greatly for coincidence,” Assistant District Attorney David Drucker said in an opening statement.

But Ricco questioned whether police had made the right match. He noted discrepancies between G. Dep’s statement and Henkel’s shooting - including that the rapper said he thought the shooting happened in February or March, rather than the fall, and described the victim as blond and cleanshaven when Henkel had brown hair and wore facial hair.

The rapper, he said, has no way of knowing for certain whether Henkel was indeed the man he shot. He ultimately filled in some of the details from information police gave him, the lawyer said.

G. Dep later turned down an offer to plead guilty in exchange for a guaranteed 15-years-to-life sentence that is now the minimum he faces, Ricco said.

G. Dep is married and a father of three school-age children, the youngest of them 7-year-old twins. His wife and mother wept after hearing the verdict, and his relatives are heartbroken and torn about his decision to speak up, Ricco said.

Henkel’s relatives didn’t testify at the trial. But one of his brothers followed it through news accounts. -AP

Pippa Middleton’s racy party photos cause a stir

LONDON: The Parisian costume party featured a man in a dog collar, a dwarf, a nearly naked nun - and a rather well known guest named Pippa Middleton, younger sister of the Duchess of Cambridge.

Middleton, 28, was in the headlines Tuesday, with photographs of her appearance at a friend’s decadent birthday party splashed across the Daily Mail tabloid.

The pictures are striking: women in revealing, low-cut period costumes from the 18th-century playacting with men in fancy clothes and spiky leather collars and bracelets.

Buckingham Palace declined to comment, but the racy coverage was likely not well received by Britain’s royal family, which has been enjoying a popularity boost since the former Kate Middleton’s fairytale wedding to Prince William last year.

“A lot of the world considers that she (Pippa) is royal, and by association what she does has an influence on the royal family,” said Ingrid Seward, editor of Majesty magazine. “It’s unfortunate for Pippa, it’s quite difficult for her,” Seward said of the tabloid reports. “She has all the downside and not the upside. I know she had has a very hard time.”

Pippa Middleton holds no royal title, but her life has been subject to intense scrutiny since she captured attention at her sister’s wedding with a close-fitting maid of honor dress.

The picture editor at the Daily Mail, Paul Silva, recently said that up to 400 paparazzi shots of her cross his desk every day. Britain’s media often characterize her as the party-loving, more vivacious contrast to the elegant and subdued Duchess.

The Daily Mail story - with the headline “Her Royal Hotness and the viscount in a dog collar” - showed Middleton, dressed in an 18th-century style top, posing with other similarly dressed women and a man in a king’s costume laughing as one of the women pulled on the dog collar around his neck.

The article said the man was the host, Arthur de Soultrait, a French fashion designer.

The story came after photographs in The Sun newspaper Monday that showed Pippa Middleton in a convertible, next to a companion who pointed what appeared to be a gun at the photographer.

A spokesman for a French clothing company owned by de Soultrait, who also appeared to be in the car, denied that Middleton’s companion brandished a pistol at the paparazzi, saying that the driver was in fact “playing a game” with the photographers with a toy gun.

Paris police say they’ve received no complaint and are not investigating the incident. Regardless, it seemed that the harm has been done. Clifford said that although Pippa wasn’t a member of the royal family, she needed to be much more careful about her behavior. -AP

Gavin DeGraw dances final dance on Stars NEW YORK: Latin week, capped by a decisive cha-cha, spelled the end of Gavin DeGraw’s “Dancing With the Stars” on Tuesday when fans failed to vote for him in large numbers and the judges gave him a final thumbs down, having first tarred the musi-

Nick Jonas has leveraged his gig on Broadway in “How to Succeed in Business Without Really Trying” into a minialbum. Producers of the show said Tuesday a five-song EP will be released May 8 featuring the voice of the youngest of the three heartthrob Jonas Brothers singer-songwriting siblings. Jonas is currently playing amoral corporate climber J. Pierrepont Finch, having taken over the part from Darren Criss of Fox’s hit show “Glee,” who briefly assumed the role from Daniel Radcliffe. Jonas, who is committed to playing the song-and-dance part until at least July 1, has recorded “Brotherhood of Man” and “I Believe In You” among the five songs. Radcliffe recorded his own cast album. -AP

Dwayne Johnson, Electus team up for new series Dwayne Johnson is on a quest to find the next great hero.

The movie and wrestling star frequently referred to as “The Rock” is teaming up with Ben Silverman’s Electus on a new television and social media competition series, “The Hero.”

Johnson will executive produce the show with producing partner Dany Garcia. Electus International, Electus’ global distribution arm, will introduce the series at the NAB Show in Las Vegas this week. “The Hero” will take ordinary people and immerse them in a high-stakes global adventure, the producers say. Three teams on three different continents will find themselves plunged into challenges that will test their courage and leadership skills. The show will also take advantage of Johnson’s huge online presence: He commands more than 9.1 million fans through Facebook, Twitter and YouTube, the producers said. -Reuters

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In this April 16, 2012 photo released by ABC, singer Gavin DeGraw, right, and his partner Karina Smirnoff perform on the celebrity dance competition series, “Dancing with the Stars,” in Los Angeles. (AP)

cian with low marks.

DeGraw, who had found himself among the bottom two finishers during every week of the hit show’s 14th season except for one, seemed resigned to his fate after his samba on Monday’s performance episode garnered a paltry score of 19 from the panelists.

Judge Len Goodman proclaimed the effort to the strains of “Sweetheart from Venezuela” “more of a shamba than a samba,” and DeGraw predicted to partner Karina Smirnoff “Tomorrow we will be in the duel,” referring to a new twist introduced this week in which the final two couples engage in a “dance duel.”

The judges then decided who would be eliminated, and the panel of three unanimously chose to spare actor Jaleel White after the two couples did a cha-cha.

“Jaleel’s more talented than I am,” a good-natured DeGraw noted before they faced off, anticipating the result. Smiling in defeat, he said: “It’s been amazing,” and “My family got to have a great time. We reunited in a lot of ways” through his participation on the show.

Monday’s night’s performances brought a wide range of scores from the judges with DeGraw getting a low 19 while Telenovela star William Levy triumphed over a torn ligament for a near-perfect 29 with his Argentine tango.

Classical singer Katherine Jenkins, who has wowed judges and fans consistently all season, tied with Levy.

He also danced an Argentine tango.

Melissa Gilbert, the “Little House on the Prairie” star who was injured during a performance last week and was briefly hospitalized after suffering a mild concussion, returned to dance the salsa and managed only a 21.

Musical highlights of the Tuesday’s elimination round included Train’s performance of “Drive By” from their just-released album, while Selena Gomez & the Scene did “Hit the Lights.” -Reuters

FILE - In this file photo dated Saturday, Feb. 26, 2011 Britain’s Pippa Middleton, arrives at the wedding of the Duke and Duchess of Northumberland’s eldest daughter Lady Katie Percy to city financier Patrick Valentine at St Michael’s Church in Alnwick, England. (AP)

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ALWATAN DAILY

AROUND TOWN / TIME OUT

THURSDAY, APRIL 19, 2012

If you have an event you wish to include, please email: aroundtown@alwatandaily.com

Feature o f

graffiti

the day

moderately confused

AUK donates to KACCH, receives award

KUWAIT: The American University of Kuwait chapter of the Sigma Tau Delta International English Society won the organization’s Service Award for 2012 in recognition of a book drive held on behalf of The Kuwait Association for the Care of Children in Hospital (KACCH).

“The project was deemed both well-organized and extremely valuable as a social outreach that would benefit many persons who, in a particularly vulnerable time of their lives, would find some relief through reading,” said William C. Johnson, Sigma Tau Delta’s Executive Director.

Sigma Tau Delta promotes literacy in ways that exhibit service to society. Each year the organization recognizes one or more chapters whose service projects exemplify what it means to serve society by fostering literacy. “This year the Sigma Tau Delta judges were pleased to recognize the Alpha Rho Eta Chapter at AUK for exemplary service to KACCH,” Johnson said.

Chapter members accepted the award at the annual convention which was held in New Orleans, LA, USA in March. As part of this honor, the chapter received a plaque and $200 to buy children’s books for KACCH while in the United States. The chapter presented those books to the organization on April 1.

This gift follows the donation of roughly 676 books (duplicate titles were not counted) from a three-day book drive at AUK which concluded March 28. With this gift, the AUK students have donated over 1,000 books to KACCH since the first book drive in the spring of 2011.

“This project has always been dear to me because of my love of reading. As a child the book was the ultimate source of not only escape but of imagination as well as creativity. I believe all children should be given the gift of a book because it was one of the most precious gifts I have ever had the pleasure of receiving.

Month a t

We as an English honor society understand the importance of literacy and being in an age where the book and reading is close to extinction, we really felt that the book drive would spark people’s interest in books again,” said Alia Mustafa Aref, the chapter President and principal organizer of the award winning book drive.

AUK’s Alpha Rho Eta chapter of Sigma Tau Delta was chartered in fall of 2009 becoming the first and only chapter of this organization in the Middle East.

Since that time, members have presented at three international conferences, won all of the major chapter awards offered by the organization and had a student whose poetry was published in a Sigma Tau Delta journal.

In addition to its work with KACCH, the AUK group donated the proceeds from its 2011 Regents Common Reader Award to Reading is Fundamental (RIF) in the United States.

Sudoku

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Intermediate

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General A n n o u n c e m e n t s

a glance are mundane encounters of beauty that sprouted from the ego and surrounding events, creating emotions which dissolved into aesthetic visual messages.

Arabic course March 11-April 19/ TIES Center: TIES Center is glad to announce the start of Arabic courses. We offer classes for all levels, from beginners to advance and also introduced new classes called Kuwait dialect. TIES Arabic classes are intended for all expatriates who wish to learn Arabic for whatever purposebusiness, basic communication, as a second language or simply as a hobby. For more information/registration, contact 97228860/97793440.

Marriage counseling session

Dar Al Funoon hosts artist Karim Ghidinelli April 2- 19/ 4 p.m. - 8 p.m. / Dar Al Funoon: Born in Italy in 1976, Karim spent his childhood in this city; he went to middle school and high school in African countries. His body of work consists of a central iconic image that of a finger imprint, within each thumb impression he has formulated a pseudo-calligraphic narrative of life experiences on luminous and luxurious enamel weaves.

Presentation on iconic rugs April 24/ 6 p.m. / Sadu House: The KTAA under the auspices of Al Sadu House cordially invites you to the presentation: ‘The Turkmen Yurt and Its Furnishings’ by James Bishop. Inhabiting the steppes of Central Asia, the diminishing nomadic people of Turkmenistan weave some of the most iconic rugs. The weavings of each tribe are distinctive with characteristic octagons or guls. This evening you will learn about some of the major tribes, the primary design features of their various guls, their bags (chuvals, torbas, jollars, etc.), tent bands, animal trappings, and chirpies.

Art exhibition April 15-26/ 10 a.m. - 9 p.m. / Gallery Tilal: Abdul Rasool Salman’s rhythms

K’S PATH invites applicants for the adoption of pets Sepp is a Domestic Long Haired (DLH) male cat. He will be 2-years-old April 2012. This friendly, laid-back boy loves a good cuddle and likes a high vantage point in a cat tree or ledge to look out from. He would do best in a home with children over 12 years of age.

To adopt, contact +965 67006122 or visit the website www.kspath.org

May 2/ 6 p.m. - 8 p.m. / TIES Center: TIES Ladies Club invites all ladies to a lecture on Marriage Institution by Joanne Hands (Psychologist, Licensed Counselor, Marriage & family Therapist). The lecture will cover on a brief introduction to the stages of marriage institution, a successful approach to the day to day marriage life, tricks of nourishing and improving your marriage relationships and techniques of overcoming the marriage challenges.

Refreshments will be served. For more information please contact us on 97228860/2523015/6 or emailinfo@tiescenter.net.

Mario is a gentle and affectionate 6-years-young Spitz male. This friendly boy does great with people and dogs of all ages.

Bread baking course April 19- May 10/ 6 p.m.-8 p.m. /TIES Center: TIES Ladies Club invites all ladies the unique course of preparing the ancient traditional food “The Bread Baking”. Baking of different kinds of breads will be demonstrated including Old English Toast, Italian Bread Stick, Strawberry Sweet Heart and many more. For more information please contact us on 97228860/2523015/6 or emailinfo@tiescenter.net.

Brainbang session October 7-April/ 11:45 a.m. -1:45 p.m. /Salmiya: BRAINBANG, the creative arm of Friends of CRY Club (FOCC) invites all students aged 11 and above, to join us fortnightly on Fridays.

The areas of development are: Creativity in learning, tools and techniques to empower your mind, profile based learning, activity, fun, games and worksheet based assignments, practical experiments, mind gymnastics and application of learning techniques to conventional study. E-mail: brainbang@focckwt.org or call 25660835/25618471/97677820.

Dilbert

Open House for Indian Citizens Ambassador of India would be holding an Open House for Indian citizens to address their problems\grievances on Wednesdays of the second and the fourth weeks of every month between 1500 hrs and 1600 hrs in the Embassy. In case Wednesday is an Embassy holiday, the meeting will be held on the next working day. To ensure timely action/follow-up by the Embassy, it is requested that, wherever possible, Indian citizens should exhaust the existing channels of interaction/grievance redressal and bring their problems/issues in writing with supporting documents.

Royal Thai Embassy The Royal Thai Embassy in Kuwait wishes to invite Kuwaiti companies that deal business with Thai companies or those agencies of Thai commercial companies to visit the Embassy’s Commercial Office to register their relevant information to be part of the embassy’s business and trade database. The Royal Thai Embassy is located in Jabriya, Block 6, Street 8, Villa No. 1, Telephone No. 25317530 -25317531, Ext: 14.

Nancy

Horoscopes Aries: March 21 - April 19

You’re eager and optimistic today, Aries, which works well with your strong, capable nature. You’re likely to find that things begin to click into place at work. Something that has been troubling you for some time suddenly becomes clear. What was once a stumbling block is now a mere bump in the road and easily overcome. All indications are that you’ll be successful at whatever you do now.

Taurus: April 20 - May 20

Today should be devoted to paperwork and getting your financial affairs and budgets in order, Taurus.

Once this is done, you can relax in the evening with friends and loved ones. You’re especially intuitive right now, so you’ll be able to pick up on all the unspoken thoughts and feelings of those around you.

Gemini: May 21- June 21

All financial undertakings have good aspects today, Gemini. It could be that you have been thinking of starting a new business venture. If so, you’re likely to meet the ideal business partner. Keep your eyes and ears tuned as you go about your daily routine. You never know when you might be introduced to that one special person.

Cancer: June 22 - July 22

This is bound to be a wonderful day, Cancer. You’re looking and feeling great and it shows! This is a day of kindness and cooperation. You could find that your family pitches in to help at home without being asked.Your romantic partner might volunteer to clean out the garage and your children start to clean their rooms.This definitely isn’t your typical day! Enjoy the harmony that reigns today.

Leo: July 23 - August 22

This is a good day for you to analyze information, Leo. You have an especially acute business sense, which you should use to your advantage. Whether you’re thinking of translating a creative project into a business proposal or working on that business plan, all indications say that your efforts will yield rich rewards. Make the most of whatever this day has to offer.

Virgo: August 23 - September 22

You’re a conscientious, hard worker, but today your thoughts are more on home than work. You feel especially close to your family and friends.They mean the most to you. Jobs and even careers come and go, but friends and family are forever. Enjoy being with them today.

Gather everyone together and order too much Chinese take-out.

Libra: September 23 - October 22

Today is likely to be another busy one for you, Libra. You might have a volunteer activity in the morning and then get roped into running errands in the afternoon. It will be busy bordering on hectic, but the hustle and bustle of being out and about is energizing for you. Invite some friends to join you for dinner in the evening to cap off this high-energy day.

Scorpio: October 23 - November 21

You have a strong spirit of cooperation today, Scorpio. It inspires you to pitch in and help others without being asked. Your romantic partner could be surprised to see you show up and help with a chore. Never mind that you don’t know what you’re doing - you’ll figure it out. Others will be impressed to see you going above and beyond what you’ve been asked to do.

Sagittarius: November 22 - December 21

Keep your eyes and ears open to all new possibilities, Sagittarius. Even if it isn’t your habit to read the “Help Wanted” section of the newspaper, do so today. You might be surprised at what you find there. Your skills apply to all sorts of jobs. You don’t need to limit your search to one profession.

Capricorn: December 22 - January 19

Today your strong sense of nostalgia likely has you leaning toward all things old. If you do some furniture shopping, you’ll be drawn to antique shops rather than contemporary stores. There is something about the patina that only comes with age. This applies to people as well as objects, which may explain why you tend to prefer to be with people who are older than you.

Aquarius: January 20 - February 18

This is bound to be a wonderful day, Aquarius, as everybody seems to be in a warm and congenial mood. You and your romantic partner, in particular, are feeling especially close and connected today. If marriage is the process of falling in and out of love, then you’re both definitely in the “in” phase. Enjoy it while it lasts! Spend a quiet day together and cap it off with dinner at an elegant bistro.

Pisces: February 19 - March 20

You have much to be grateful for, Pisces. Why not go out tonight and celebrate with friends? Forget about work and family troubles and kick up your heels. Have a high old time. You deserve the break.

If you don’t seize these moments when you have the opportunity, you risk becoming a single-minded individual.

ALWATAN DAILY

SPORTS

thursDAY, april 19, 2012

19

Basketball

Anthony has triple-double, Knicks beat Celtics NEW YORK: Carmelo Anthony had 35 points, 12 rebounds and 10 assists for his second career triple-double, and the New York Knicks made 19 3-pointers to keep alive their Atlantic Division title hopes with a 118-110 victory over the Boston Celtics on Tuesday night.

JR Smith and Steve Novak both scored 25 points for the Knicks, who overcame a season-high 43 points from Paul Pierce and moved into sole possession of seventh place in the Eastern Conference while trimming Boston’s division lead to 3 1/2 games. The Celtics would have wrapped up their fifth straight Atlantic title with a victory.

Instead, the Knicks staggered them with a record-tying 14 3-pointers in a 72point first half and equaled their season high by finishing 19 of 32 behind the arc.

They improved to 14-5 under interim coach Mike Woodson.

Tyson Chandler had 20 points on 9-of-10 shooting for the Knicks, who finished one short of their franchise record for 3s, set last season.

Kevin Garnett scored 20 points for the Celtics, who fell out of a three-way tie for fourth in the East with Atlanta and Orlando. Rajon Rondo had 13 points and 13 assists.

Playing without the injured Ray Allen, the Celtics got a brief scare in the third quarter when Rondo landed hard on his back going for a rebound and remained on the court for a few minutes while being attended to before remaining in the game. Allen missed his fifth straight game when he felt pain in his right ankle Tuesday morning. He had gone through the morning shoot-around and Rivers assumed he was set to play before the pain returned. Neither was sure if Allen would play Wednesday against Orlando. Allen, the NBA’s career leader in 3-pointers made, would have fit in perfectly in this game.

The Celtics jumped to an 8-2 lead, but the rest of the first half belonged to the Knicks. New York scored the final 10 points of the first quarter, going up 32-26 behind 12 points from Anthony and 63

New York Knicks’ Carmelo Anthony (center) drives past Boston Celtics’ Brandon Bass (left) and Paul Pierce during their NBA basketball game in New York April 17, 2012. (Reuters)

percent shooting.

The Knicks then scored eight straight points to open the second quarter, capping an 18-0 run when Smith’s 3-pointer made it 40-26 with 9:16 left. Consecutive 3s by Mike Bibby and Smith later made

it 54-35 midway through the second, and the lead reached 20 points when Novak was fouled while making a 25-footer, falling backward out of bounds and into the arms of Woodson - the only time anyone got near a Knicks shooter in the half.

The Celtics finally got within single digits late in the game, with Pierce scoring four straight to cut it to 112-106 with 3:07 left. But Novak hit two 3-pointers around a jumper by Rondo, putting it away at 118-108. -AP

San Antonio Spurs rout LA Lakers to seize West lead

LOS ANGELES: Tony Parker had 29 points and 13 assists, Tim Duncan had 19 points and eight rebounds, and the San Antonio Spurs handed the Los Angeles Lakers their worst loss of the season, 112-91 on Tuesday night.

Manu Ginobili scored 15 points as the Spurs improved their spot atop the Western Conference with their fourth straight win. They also snapped Los Angeles’ four-game winning streak while dominating a meeting of division leaders.

Andrew Bynum had 21 points and seven rebounds for the Lakers, whose Pacific Division lead over the Clippers dwindled to a half-game, although the Lakers hold the tiebreaker. Matt Barnes and Pau Gasol scored 16 points apiece, but with Bryant watching from the bench in a sharp suit, Los Angeles couldn’t match the depth of the Spurs, who got at least four points from 10 players.

Just six days after the Kobe-less Lakers jumped to a 26point lead during a comfortable victory at San Antonio, the Spurs answered by scoring 18 consecutive points during an impressive second-quarter spree.

San Antonio, which had lost three straight to the Lakers, stretched its lead to 23 points in the third quarter - making 30 of 43 shots in the middle quarters - and hung on comfortably for its 15th win in 17 games. Parker particularly decimated Los Angeles’ defense, going 14 of 20 against point guards Ramon Sessions and Steve Blake.

The Spurs (44-16) have a half-game lead over Oklahoma City (44-17) for the No. 1 seed in the West. The two perennial West powers will meet yet again for a rubber match Friday in San Antonio.

Although Bryant says he would be healthy enough to play if the Lakers were in the playoffs now, coach Mike Brown thinks Bryant is unlikely to play Wednesday at Golden State. The NBA scoring leader already has played through several lesser injuries this season, and Brown seems content to allow Bryant to heal for the postseason, even if his absence costs the Lakers a spot in playoff seeding.

San Antonio coach Gregg Popovich agreed with his former assistant’s strategy, saying he would choose health over playoff position.

Bryant’s absence had inspired strong performances from the Lakers over the past week, but the Spurs had little trouble with Los Angeles’ reconfigured lineup. San Antonio took control with a 24-4 run in the second quarter, blowing open a tight game with opportunistic defense and relentless fast breaks. -AP

Formula one

Tennis

Bahrain activists vow ‘days of rage’ for Grand Prix

Nadal passes knee test, Djokovic sweeps past Seppi

Bahraini Shiite Muslims take part in a demonstration calling for canellation of the upcoming Bahrain F1 Grand Prix, on April 17, 2012. (AFP)

DUBAI: Anti-government protesters in Bahrain are planning “days of rage” directed at this weekend’s Formula One Grand Prix, while security forces have rounded up dozens of activists in a clampdown on the opposition in the Gulf Arab nation.

Bahrain has been in turmoil since a democracy movement erupted last year after uprisings in Egypt and Tunisia.

The island state’s revolution was initially crushed with the loss of dozens of lives but youths still clash daily with riot police and thousands are turning out for opposition rallies as the motor race approaches.

“Boycott F1 in Bahrain,” reads a graffiti message daubed on a wall in a village outside the capital, Manama, next to a painted image of a red Ferrari race car. “You will race on the blood of martyrs.” Bahrain’s ruling Al Khalifa family had to cancel last year’s race because of the uprising, but its return on April 20-22 is a chance to tell the world that all is back to normal - which could work if protests and clashes are kept to Shi’ite districts and do not reach major highways or the capital. Bernie Ecclestone, the colorful British owner of the commercial rights to Formula One, said last week the race would go ahead because all was “quiet and peaceful” in Bahrain, which paid last year’s hosting fee of an estimated $40 million despite cancelling the race due to the conflict. The Bahrain race, part of a 20-event worldwide season that has revenues of $2 billion, drew 100,000 visitors and generated an estimated half a billion dollars in spending when it was last held two years ago. Formula One, the business arm of one of the world’s most watched sports, is expected to be floated on the Singapore stock exchange later this year. The opposition, led by the Wefaq party, say they do not oppose the race and their

protests will focus on demands for political reforms in a country where the Khalifa family dominates government and the economy.

Formula One was originally brought to Bahrain in 2004 as part of economic reforms championed by Crown Prince Salman - whom Wefaq continues to bet on as a man to deliver political reform, to encourage foreign investment and jobs for Bahrainis. “We think Formula One is a secondary issue compared to the question of long-term rights. What we care about is our demands. We don’t want to ruin the projects’ of others,” said senior Wefaq member Sayed Hadi al-Mousawi. But he predicted protesters would try to hold demonstrations near or inside Sakhir, which lies south of the capital and away from most residential areas. “There are hundreds or maybe thousands who will get there and raise slogans, and they don’t care if they are taken to jail. People have reached the point of no fear,” Mousawi said. Opposition figures outside the political parties and who are opposed to the race say they will stage protests inside the F1 circuit if they can, hoping to catch international attention. They say they will host daily events, including a march in Manama on Thursday at a location to be announced, culminating in a country-wide “day of rage” on both Saturday and Sunday. “They plan activities at the track but they have not announced what. For sure there will be something,” said Sayed Yousif al-Muhafda of the Bahrain Centre for Human Rights. Activists opposed to the race point out that some Bahrain International Circuit employees say they suffered torture during the period of martial law that ended last June. Bahrain commissioned a report by international rights experts which revealed systematic abuse during the crackdown. -Reuters

MONTE CARLO, Monaco: Rafael Nadal emerged a 6-4, 6-3 winner over Jarkko Nieminen with no obvious discomfort to his troublesome left knee as the Spaniard began his quest for a record eighth title at the Monte Carlo Masters on Wednesday. Nadal, now 40-1 at the venue where he lost his only match in 2003, won his 38th straight game in the principality as he overcame stubborn resistance from the Finn ranked 48th who claimed the Sydney title in January. Nadal, who required two weeks of knee treatment after failing to play his Miami semi-final match due to pain, has not lifted a trophy since the French Open ten months ago. The second seed joined world number one Novak Djokovic in moving through a clay-season opener in straight sets on a cloudy day on the Mediterranean coast. Djokovic began with a 6-1, 6-4, victory over Andreas Seppi. taking a 5-0 lead over the 44th-ranked Italian and breaking for an early lead in the second on the way to his seventh win in the series. “I served really well when I needed to,” said Djokovic. “That’s encouraging for the clay, it’s good to have a couple of free points there. “I was really focused first set and played it well against a tough, quality opponent who plays good on clay. For the first official match since Roland Garros last year, it was satisfying.” The top seed will next play 16th seed Alexandr Dolgopolov, who put out new Monte Carlo resident Bernard Tomic 6-2, 5-7, 6-1. “He’s a very talented player, comes up with some shots that are not really typical,” said Djokovic of Dlogopolov. “He changes the pace and is very dangerous on clay, “I need to be aware and disciplined on the court. I need to try not to be frustrated with the rhythm that he comes up with.” Three of four other seeds also reached the third round, with Serb number seven Janko Tipsarevic advancing over Spain’s Albert Montanes 6-2, 6-3. Number eight Nicolas Almagro beat Italian Potito Starace 7-6 (7/3), 6-1 while number nine Frenchman Gilles Simon won a match that began at the early hour of 10:30, beating Frederico Gil of Portugal 6-3, 6-0. Julien Benneteau registered a French

Spain’s Rafael Nadal serves the ball to Finland’s Jarkko Nieminen, during their match of the Monte Carlo Tennis Masters tournament in Monaco, April 18, 2012. (AP)

win as he put out 2011 semi-finalist and 15th seed Jurgen Melzer 6-4, 6-3.

Mikhail Kukushkin beat Italy’s Filippo Volandri 7-6 (10/8), 2-6, 6-2 and Switzerland’s Stanislas Wawrinka beat Pablo Andujar 7-5, 6-3. -AFP

Cricket

Aussies back on top after Chanderpaul falls PORT OF SPAIN: Shivnarine Chanderpaul fell agonisingly short of a century before Australian spinner Nathan Lyon destroyed the West Indian lower order to hand the momentum back to the visitors on the third day of the second test on Tuesday.

Chanderpaul was dismissed for 94 after surviving a dropped catch early in his innings when leading a West Indian fight back with a perfect blend of defense and controlled aggression.

But his gritty performance counted for little at the end of the day after the fragile West Indian batting crumbled and the home side were reduced to 252 for nine at the close, still 59 behind Australia’s first innings of 311

West Indies batsman Shivnarine Chanderpaul (right) plays a shot as Australian wicketkeeper Peter Nevill and Michael Clarke look on during a Test match between Australia and West Indies April 17, 2012. (AFP)

in a low scoring match.

Lyon (5-68) triggered the collapse when he captured five wickets in a devastating spell late in the final session on an increasingly difficult Queen’s Park Road pitch.

Chanderpaul, who scored an unbeaten hundred in last week’s first test defeat in Barbados, shared a 130-run partnership with Narsingh Deonarine (55) to give West Indies hope of a first innings lead when the wheels suddenly fell off and they lost five wickets for just 19 runs.

Deonarine was stumped by Matthew Wade shortly after completing his third half-century in his 10th test then Lyon trapped Chanderpaul lbw with a ball that turned just enough to beat the inside edge.

Darren Sammy (one), Shane Shillingford (four) and Kemar Roach (no score) then followed in quick succession, leaving Carlton Baugh (17 not out) and Fidel Edwards (no score) to battle through to the close.

Chanderpaul, a thorn in Australian sides for years, had been given a life on eight when the Australian skipper Michael Clarke failed to grasp a difficult chance at slip that deflected off Wade. The unorthodox lefthander then made the Australians pay for the missed opportunity with a watchful 217-ball innings that featured 10 boundaries and a six, off leftarm spinner Michael Beer.

Deonarine also had a close shave early in his innings, scrambling home by a whisker to avoid being run out on the last ball before lunch.

The day began in bizarre circumstances when play was delayed for 20 minutes because of a power outage.

The two teams walked on to the field as scheduled but were told by match referee Jeff Crowe to retreat back to the dressing room before a ball was bowled because there was no live television footage.

Australia’s frontline bowlers failed to make any inroads in the morning session and it was left to part-time seamer Mike Hussey to make the initial breakthrough, removing Darren Bravo for 38. Australia did not get another wicket until after tea when the second session was interrupted for around 90 minutes because of a passing rain shower. -Reuters

THURSday, april 19, 2012

SPORTS

Football

Drogba strikes as Chelsea stun Barcelona

Chelsea’s Ivorian forward Didier Drogba (left) celebrates after scoring a goal during the UEFA Champions League semi-final first leg football match between Chelsea and Barcelona, April 18, 2012. (AFP)

LONDON: Didier Drogba scored the only goal as Chelsea stunned holders Barcelona to score a 1-0 upset victory in their Champions League semi-final first-leg match here on Wednesday. Drogba left Chelsea dreaming of advancing to their first final since 2008 in next week’s return leg at Camp Nou after pouncing on the stroke of half-time as Barcelona suffered their first European reverse of the season.

Drogba’s goal was Chelsea’s only attempt on target in a match where Barcelona carved out chance after chance only to be denied by some desperate defending by their Premier League opponents.

Chelsea had taken the lead in first-half injury-time after an opening 45 minutes in which they had been comprehensively outplayed by the visitors.

Frank Lampard released Ramires down the left flank with a superb cross-field pass and the Brazilian threaded his pass across the area to Drogba, who swept a low shot past scrambling Barca goalkeeper Victor Valdes.

Chelsea, who had opted for the muscular presence of Drogba in attack ahead of Fernando Torres, signaled their intentions early on, pumping a series of long balls forward for the Ivorian.

However, genuine chances for Chelsea were few and far between while at the other end Cech was working overtime in the face of a relentless Barca.

Cech had to be alert on 18 minutes after Lionel Messi darted into the box and cut back for Iniesta, whose fierce low shot was well saved by the Chelsea custodian before Cesc Fabregas scuffed his follow-up wide.

Fabregas tested Cech soon afterwards, his angled shot beaten away on 26 minutes. Cech was pressed into action two minutes later, saving after Messi met a Sanchez cross with a downward header.

A goal seemed a certainty two minutes from the half-time when Messi won the ball in midfield and raced forwards menacingly.

The Argentinian threaded his pass through to Fabregas, who dinked his shot over the advancing Cech.

The former Arsenal star’s effort just appeared to be spinning in but Ashley Cole was on hand to hook the ball clear.

That appeared to be the final twist of the half until Drogba’s dramatic strike shot Chelsea into the lead two minutes into time added on.

Unsurprisingly, Chelsea’s goal was the cue for a sustained Barca onslaught after the break, yet the home side once again were able to frustrate the visitors despite their near-monopoly of possession.

In stoppage time Pedro struck the woodwork and then Sergio Busquets blazed over as Chelsea hung on for a famous win. - AFP

Van Persie doubted himself as main striker

Sports Editors Highlight MADRID: Valencia coach Unai Emery has told his players to banish thoughts of revenge when they play at La Liga rivals Atletico Madrid in Thursday’s Europa League semi-final first leg. Valencia were eliminated in controversial circumstances by eventual winners Atletico in the 2009-10 quarter-finals when the referee failed to award what appeared to be a clear penalty for a foul on Nikola Zigic.The Serbian striker was left with a torn shirt after he was hauled back by defender Juanito and Atletico went through on away goals before beating Fulham in the final. Atletico coach Diego Simeone, who has given the club new belief since taking over at the turn of the year, said there was little point dwelling on the past and that he had suffered from similar injustice during his playing career. - Reuters

Lyon’s top-three challenge fades in Toulouse PARIS: Lyon’s hopes of playing Champions League football next season receded sharply on Wednesday after a 3-0 loss at Toulouse left them six points behind third-placed Lille in Ligue 1 with only six games remaining.

Lyon were bidding to bounce back from Saturday’s extra-time loss to Marseille in the League Cup final but another sterile performance saw them undone by goals from Pantxi Sirieix, Emmanuel Riviere and substitute Umut Bulut.

Victory for Toulouse, meanwhile, drew them level on points with fourthplaced Lyon, who now face a battle just to hold on to the consolation prize of a Europa League place.

However, OL can secure a Europa League berth by beating third-tier Quevilly in the French Cup final on April

28, while the fact that Lille must still play Montpellier and Paris Saint-Germain gives them a glimmer of hope in the battle for third.

Garde dropped Lisandro Lopez to the bench in order to match Toulouse’s 4-14-1 but his side fell behind in the ninth minute when Sirieix volleyed home after Mouhamadou Dabo failed to deal with Adrien Regattin’s cross.

Sirieix turned provider in the 22nd minute, shaping a cross into the box from the right that Riviere met with a firm header into the top-left corner.

Garde introduced Lisandro and Michel Bastos at half-time, while Yoann Gourcuff came on in the 63rd minute to make his first league appearance since December 21 following a spell on the sidelines with a groin injury.

The substitutes did not make the required impact, however, and Bulut broke the visitors’ offside trap in the 91st minute before lifting the ball over Hugo Lloris to seal Lyon’s 11th defeat of the season.

Marseille’s run of games without victory in Ligue 1 now stands at 11 after they were held to a 1-1 draw at home to Caen that left OM 10th and took the visitors a point clear of the relegation zone.

Caen went ahead in the 11th minute, with M’Baye Niang intercepting Nicolas N’Koulou’s attempted pass and crossing for Frederic Bulot to score at the second attempt.

Loic Remy equalized 15 minutes later, claiming his 11th league goal of the season from the penalty spot after a handball by Alexandre Raineau. - AFP

Real can still beat Bayern, insists Mourinho BAYERN: Real Madrid coach Jose Mourinho has insisted the Spanish giants can turn things around in the return leg despite losing 2-1 at Bayern Munich in the Champions League semi-final.

Germany striker Mario Gomez hit an 88th-minute winner in Tuesday night’s first leg to put Bayern in pole position to reach the May 19 final at their own Allianz Arena stadium against either holders Barcelona or Chelsea.

After France winger Franck Ribery gave Bayern an early lead, Real’s Mesut Ozil equalised before Gomez’s winning strike, but Mourinho says his team can hit back at their Bernabeu stadium in next Wednesday’s return leg.

“We have the second leg to come and it’s not like we have to make a historical comeback, what we have to do is very achievable,” said Mourinho, whose team are away to Barcelona in El Clasico on Saturday in the Spanish league.

“If we win at home, we are there. I am optimistic we can return here to play in the final. I think a more justified result would have been a draw, but that’s football. Whoever scores goals wins games, simple as that. It’s not a bad result, it just means we have to win at home and turn it around. It wouldn’t be the biggest turn around in history, I still think the team can do it, the fans will be behind us, just like the fans helped Bayern. We will prepare after Saturday’s game and the team will

David Alaba (left) of Bayern Munich challenges Alvaro Arbeloa of Real Madrid during their Champions League semi-final first leg soccer match in Munich, April 17, 2012. (Reuters)

be ready. Real always plays to win and I would have liked to have won today.”

Mourinho said English referee Howard Webb had made a mistake in awarding Bayern’s opening goal as replays showed Ribery fired home with a Bayern player offside, but he refused to criticize the official.

“We had the feeling that one team could get through with a lucky punch and

they made it,” said Mourinho. “Their first goal was offside, that is clear. I accept the referee’s decision, but he shouldn’t have given the goal.”

Bayern coach Jupp Heynckes was delighted with his team’s performance as they preserved their remarkable record of having never lost at home to Madrid, with nine wins and a draw in their 10 meetings in Munich since 1976. - AFP

Beckham Olympic bid still on course

Robin van Persie of Arsenal is tackled by Emmerson Boyce of Wigan during the Barclays Premier League match between Arsenal and Wigan Athletic at Emirates Stadium on April 16, 2012.

(AFP)

LONDON: Arsenal goal machine Robin van Persie has revealed how he feared he wouldn’t be up to the task of leading the Gunners’ forward line.

His comments appear extraordinary given the 28year-old Dutch international striker is on course to score 40 goals this season.

However, van Persie insisted he was concerned about moving from the second striker position compatriot Dennis Bergkamp perfected during his time with Arsenal and becoming the focal point of the attack when manager Arsene Wenger sold Emmanuel Adebayor to Manchester City nearly three years ago.

“I never really thought that I would end up as a main striker,” van Persie told Arsenal player. “I actually never played there before I did it a couple of times at youth level but it was nothing really special.

We only tried it when Adebayor went. The boss didn’t buy someone else because he was convinced I could do it. I wasn’t even convinced about it.

I wasn’t so sure, because I didn’t really play there so much. Then, in pre-season, we had a game against

Inter Milan. I scored a good goal, played well and he told me after the game, ‘You see? It will work’. That was the first step to being a main striker. Sometimes, you just question yourself, if you’re good enough at it. Those answers came. I have been for a while now convinced that I actually can play as a main striker. I just didn’t know, and now I believe. Let’s see where it ends. Let’s see how far I can push myself, see where my maximum lies.”

But with Arsenal set for yet another season without a trophy, their last piece of major silverware was the 2005 FA Cup and van Persie having just one year left on his contract, many Gunners fans fear the forward could be following the likes of Adebayor and Barcelona’s Cesc Fabregas in leaving the Emirates.

Their concerns will not have been eased by the sight of van Persie talking to international team-mate Ibrahim Afellay at Barcelona’s London hotel on Tuesday ahead of the Catalan giants Champions League semi-final first leg against Chelsea at Stamford Bridge on Wednesday. -AFP

LONDON: David Beckham’’s hopes of playing for a combined British team at the Olympic Games in his native London remained intact after he survived the latest whittling down of manager Stuart Pearce’s squad.

Pearce, also currently the caretaker boss of the England national side, reduced his initial 191-man long list to 80 players on Wednesday. They are now being contacted by the English Football Association to see if they are available for Games duty.

Provided he remains fit, it seems highly likely Beckham, 37 next month, will be one of the over-age players in what is primarily an Under-23 tournament when ex-England full-back Pearce names his 18-man squad at the end of May. Former England captain Beckham, worldwide the best known English footballer of his generation, is far and away the most high profile figure still in contention for a place in Pearce’ís Olympic line-up.

Now with the LA Galaxy, former Manchester United midfielder Beckham was one of several leading sportsmen who helped convince International Olympic Committee delegates to award the Games to London. And there is no doubt his presence in a British squad would help boost ticket sales for the Olympic football tournament although there are those who argue that, as his best days as a player are behind him, he may hinder home hopes of a gold medal. Players from all the four Home Nations; England, Scotland, Wales and Northern Ireland, this also comprises of the bulk of British squads for Olympic sports remain in contention for a place in the football team.

Although they accept they cannot bar their players from competing at the Games, football chiefs in Scotland,Wales and Northern Ireland remain adamantly opposed to a British team, fearing it

could be the thin end of a wedge that ends with their extinction as independent soccer nations.

More than 50,000 tickets have been sold for the July 26 opening game at United’s Old Trafford home ground and a double-header friendly featuring both the men’s and women’s teams will be con-

firmed for the north-east of England at some stage over the next few weeks. Britain will learn who their group stage opponents are at an official draw on Tuesday, a day after Senegal face Oman in Coventry, central England, in a playoff for the final place in the Olympic men’s football tournament. - AFP

Los Angeles Galaxy midfielder David Beckham (23) celebrates after scoring a goal against the Portland Timbers in the second half of an MLS soccer game in Carson, April 14, 2012. (AP)