April 20, 2012

FRIDAY, APRIL 20, 2012

@alwatandaily

Issue No. 1410

20 PAGES

www.alwatandaily.com

150 Fils with IHT

MPs call to set up prosecution, police dept. for vice crimes

Mohammed Al-Salman & Mohammed Al-Khaldi Staff Writers

KUWAIT: MPs Riyadh Al-Adsani, Mohammad Hayef, Osama Al-Menawer, Jamaan Al-Harbash, Bader Al-Dahoum, and Mohammad Al-Hatlani on Thursday submitted a suggested law calling to set up a prosecution and police department to handle vice crimes. The new department is responsibility should ensure that necessary actions are taken to prevent vice crimes from happening and arrest those involved in them.

Meanwhile, Majority Bloc MPs expressed their disappointment regarding the domination of interpellations over other issues that citizens have been awaiting, such as dropping the interests of loans. Those MPs are not convinced with the solution of having special additional sessions to approve some drafts laws, because they are concerned about lack of quorum that occurred in several special parliamentary sessions previously.

A parliamentary source in the bloc said that such domination will trigger disputes regarding priorities, which will affect the unison of the bloc’s decisions in the future, in addition to forcing some of the bloc’s MPs to join other groups to avoid the pressure applied on them by some dominant figures in the Majority Bloc.

The source explained that it is not necessary for all MPs to agree or to submit to the will of some MPs in using interpellations continuously, regardless of any other pressing issues that Kuwait and its people might need to solve. The source shed light on the division among the bloc’s members concerning the dropping of interests of loans, where some MPs see it as a secondary matter that can be postponed, while others insist on filing an interpellation against Minister of Finance Mostafa Al-Shamali.

In addition, a parliamentary source commented on including the loans issue in the interpellation that the Popular Action Bloc and MP Obaid Al-Wasmi plans to file against Al-Shamali by saying that the objective behind

Islamists, civil groups to protest in Tahrir

CAIRO: Supporters of Islamist presidential candidates banned from running by an election commission vowed to hold protests on Friday against the country’s military rulers, who they claimed were manipulating Egypt’s democratic transition to reinstate members of the old regime.

Demonstrations are expected in Tahrir Square on Friday, with some Muslim Brotherhood supporters considering an extended sit-in to protest against the Supreme Council of the Armed Forces (Scaf). Islamist political groups and Scaf have become the two largest powers in Egypt after Hosni Mubarak was forced to resign last year.

“No constitution under military rule” and “Friday of self-determination” will be the banners raised by political parties and movements - who are not in consensus - on Friday in Tahrir Square, which will also see supporters of presidential hopeful Hazem Abu Ismail protesting his disqualification.

The different banners for the same demonstration reflect a rift between the Islamists that control a parliamentary majority and other civil and liberal groups that have maintained the momentum of street action.

“We call on everyone to head to the

squares and streets of Egypt on Friday, April 20 to protect their revolution and continue it under the slogan of ‘No constitution under military rule,’” said a statement signed by 12 political parties, groups and movements.

This coalition of political powers include Masrena Movement, April Sixth Youth Movement, Youth for Freedom and Justice, Our Rights Movement, the National Association for Change and the Revolution Youth Coalition. It also includes Al Tayyar Al Masry, AlWasat, the People’s Socialist Coalition, the Egyptian Social Democratic, Al-Adl and the Egypt Freedom Parties.

Islamist called for and dominated demonstrations last Friday. They protested the nominations of figures of the old regime in the presidential election. On Tuesday, Omar Suleiman, the former intelligence chief and last vice president for Hosni Mubarak who entered the race right before the registration deadline, was disqualified.

The decision by the election committee did little to soothe Islamists’ fears. Together with Suleiman, the Brotherhood’s top candidate Khairat Al-Shater and ultraconservative Salafi candidate Hazem Abu Ismail were also disqualified. Agencies

this interpellation is to use this issue to induce further escalation; especially that those MPs neither uses their Constitutional instruments gradually, nor filed parliamentary questions, not to mention forming an investigations committee to determine whether the minister can be held accountable. Justice Bloc member MP Mohammad Al-Hatlani asserted that the bloc is still waiting for a fatwa from the Awqaf Department regarding the dropping of interests of loans, although there is an old fatwa that approves dropping the interests that are considered usury.

However, he stressed the importance of renewing this fatwa to suit the current circumstances, and called for either scrapping off the interests or rescheduling the loans.

Head of People’s Rights campaign Khaled Al-Asqar asked the Majority Bloc to find a solution regarding the loans issue, and held Al-Shamali responsible for the current situation, because he hid information from the National Assembly and considered the Defaulters Fund the CONTINUED ON PAGE 2 solution.

Syria-UN sign agreement on monitoring mission DAMASCUS/GENEVA: Syria and the United Nations signed an agreement on Thursday on the terms of a ceasefire monitoring mission, the Syrian Foreign Ministry said. “This preliminary agreement ... aims to facilitate the task of the observers within the framework of Syrian sovereignty,” the statement said.

A statement from UN-Arab League mediator Kofi Annan said the Syrian government and the United Nations had agreed a basis for a “protocol” on the deployment of more observers.

“This agreement outlines the functions of the observers as they fulfill their mandate in Syria and the tasks and responsibilities of the Syrian government,” Ahmad Fawzi, Annan’s spokesman, said in a statement.

Fawzi said Annan’s team was holding “similar discussions with representatives of the opposition on the tasks and responsibilities of the armed opposition groups.”

The 15-member UN Security Council will meet at 9:00 am (1300 GMT) on Thursday for a briefing by Annan’s deputy, Jean-Marie Guehenno, which will be crucial in determining whether the conditions are right for deploying a larger monitoring mission to Syria. US and European diplomats on the council have suggested that Syria’s lack of full compliance with its obligations to end the violence may make it difficult for them to support a new resolution that would be needed to deploy an More on 4 expanded observer mission.

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah greeting Sultan Qaboos bin Said of Oman prior to his departure on Thursday, April 19, 2012. (KUNA) More on 3

Kuwait’s trade surplus with Japan widens 84.7%

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Sudan’s Bashir vows to punish South

Libya prime minister to reshuffle cabinet

Soldiers inspect the debris at the scene of two car bombs close to the governate in the northern oil-rich city of Kirkuk on April 19, 2012, which left several people dead. A wave of bomb attacks in four different provinces across Iraq killed at least 35 people security officials said. (AFP) More on 4

India tests nuclear-capable 5 missile that can reach China Transplanted cells allow mice with night blindness to see in dark LONDON: Scientists have improved the eyesight of mice born with night blindness by injecting healthy light-sensitive cells into their retinas according to The Guardian. The work is the first demonstration that cell transplants can restore useful vision.

Injections of the cells produced only modest changes in the animals’ eyesight, but the results have raised hopes that a similar therapy might one day help reverse some forms of human blindness, such as age-related macular degeneration, the most common cause of blindness, which affects up to 15% of people over 75. In the study, researchers at University College London’s Institute of Ophthalmology injected the precursors of light-sensitive cells - taken from newborn mice - into the eyes of adult mice with a genetic form of night blindness.

Each jab delivered around 200,000 photoreceptor cells, of which 20,000 to 30,000 attached to the animals’ retinas and made working neural connections. Despite the newly wired-up cells accounting for less than one percent of the rods in the retinas, the mice still showed an improvement in eyesight.

“This is the first proof of principle for restoring vision by transplanting photoreceptor cells. Until now it’s been assumed, and hoped for, but not actually proven,” said Dr Rachael Pearson, a neuroscientist at the institute, who led the study published in Nature.

The retina contains two broad kinds of light sensitive cells, rods and More on 15 cones. In mice - and humans - more than 95% are rods.

TRIPOLI: Libya’s interim prime minister plans to reshuffle his cabinet which has come under fire over corruption scandals and failure to consolidate the national army, a government spokesman said. Prime Minister Abdel Rahim Al-Kib “has reviewed the performance of certain ministries” and “will announce a cabinet reshuffle soon,” Nasser Al-Manaa told journalists late Wednesday.

The ministers of defense, health and interior have come under scrutiny in the past few months which have been marked by communal conflicts and the discovery of mass fraud in reward schemes for former rebels and war wounded.

On Monday, members of the ruling National Transitional Council warned that the interim government was heading towards a no-confidence vote due to its failure to organize the army and tackle outstanding security issues.

The main criticisms lobbied against the interim government, said an NTC member, were its failure “to reactivate the army, to integrate militias under a legitimate framework, and the wasting of public money.”

Libyans are expected to vote for a constituent assembly in June. -AFP

Cannes film festival unveils line-up

PARIS: The Cannes film festival on Thursday unveils its pick of Hollywood giants and art house newcomers to compete at the world’s top movie showcase on the French Riviera next month.

Organizers will announce the 50-odd films awarded a slot at the May 16-27 event at a press conference in Paris, half of them in the official race for the Palme d’Or and half in the parallel new talent section, Un Certain Regard.

Cannes’ general delegate Thierry Fremaux selected the line-up from among some 1,700 submissions, from the biggest names in film right down to first-time directors from North America, Europe, Asia, Latin America or Africa. Star-wise, Nicole Kidman is tipped to make a double appearance after Fremaux warned in an interview the Australian actress was “going to surprise us.”

Kidman holds lead roles this year in two very different thrillers: “Stoker” by South Korea’s Park Chanwook, and the 1960s-set “The Paperboy” by US director Lee Daniels. The French press is betting on Marion Cotillard, star of three Cannes-tipped films: “Of Rust and Bone” by Frenchman Jacques Audiard, “Low Life” by US director James Gray about an immigrant woman tricked into a life of burlesque, and Christopher Nolan’s new Batman movie, “The Dark More on 17 Knight Rises”.

Members of the Sudanese Women’s Union demonstrate outside the UN building against South Sudan’s taking control of the Heglig oil field and in support of Sudan’s armed forces (SAF) in Khartoum April 19, 2012. (Reuters)

KHARTOUM: Sudan’s President Omar Hassan Al-Bashir threatened war against his newly-independent neighbor on Thursday, vowing to teach South Sudan a “final lesson by force” after it occupied a disputed oil field.

Appearing in medal-spangled general’s uniform at a large rally in the border province of North Kordofan, the burly military ruler danced side-to-side, waved his walking stick in the air and made blistering threats against the leadership of the

South, which broke off last year after decades of civil war.

“These people don’t understand, and we will give them the final lesson by force,” Bashir told the rally in El-Obeid, North Kordofan’s capital. “We will not give them an inch of our country, and whoever extends his hand on Sudan, we will cut it.” South Sudan separated from the rest of Sudan with Bashir’s blessing last July under the terms of a 2005 peace More on 4 deal.

Fish sick near BP oil spill site...Two years later

BARATARIA BAY: When fishermen returned to the deep reefs of the Gulf of Mexico weeks after BP’s gushing oil well was capped, they started catching grouper and red snapper with large open sores and strange black streaks, lesions they said they’d never seen and promptly blamed on the spill. Now, two years after the Deepwater Horizon rig exploded and sank, killing 11 men and touching off the worst offshore spill in US history, the latest research into its effects is starting to back up those early reports from the docks: The ailing fish bear hallmarks of diseases tied to petroleum and other pollutants.

Those illnesses don’t pose an increased health threat to humans, scientists say, but they could be devastating to prized species and the people who make their living catching them. There’s no saying for sure what’s causing the diseases in what’s still a relatively small percentage of the fish, because the scientists have no baseline data on sick fish in the Gulf before the spill to form a frame of reference. The first comprehensive research may be years from publication. And the Gulf is assaulted with all kinds of contaminants every day. Still, it’s clear to fishermen and researchers alike that something’s amiss.

A recent batch of test results revealed the presence of oil in the bile extracted from fish caught in August 2011, a year after BP’s broken well was capped and nearly 15 months after it first blew out on April 20, 2010.

“Bile tells you what a fish’s last meal was,” said Steve Murawski, a marine biologist with the University of South Florida who was chief science adviser for the National Marine Fisheries Service until November

Photo shows fish harvested from the Gulf of Mexico with unusual lesions and infections. Two years after the Deepwater Horizon rig exploded and sank, touching off the worst offshore spill in US history. (AP)

2010 when he began working on oil spill studies for USF. “There was as late as August of last year an oil source out there that some of those animals were consuming.” Bile in red snapper, yellow-edge grouper and a few other species contained on average 125 parts per million of naphthalene, a compound found in crude oil, Murawski said.

Scientists expect to find almost none of the toxin in fish captured in the open ocean. “Those levels are indicative of polluted urban estuaries,” he said. -AP

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ALWATAN DAILY

kuwait

FRIDAY, APRIL 20, 2012

FM says to assist Foreign Transfers committee reveal truth Wafa Qansour Staff Writer

KUWAIT: At a time when the Deputy Prime Minister and Minister of Foreign Affairs Sheikh Sabah AlKhaled Al-Sabah has renewed his affirmation to cooperate in applying the Constitution, law and bylaws, he responded to some accusations on the part of the Foreign Transfers Committee, which described him as not handling his job properly, saying that he answered all the questions directed to him by the committee. He added that he provided the Committee with all the documents asked for and that he intends to continue assisting the committee until the truth is revealed.

His statement was made to the press on the sideline of the British Embassy commemoration of Queen Elizabeth II’s 60th Birthday.

Asked about the Arab Ministerial Committee meeting which discussed the Syrian situation and the recommendations the committee has adopted, the foreign minister said that it was a good time to exchange ideas and listen to Kofi Anan and other United Nations (UN) and Arab League (AL) representatives. He said that the Arab Ministerial Committee is keen to apply and execute the mechanisms discussed once the Syrian government approves the Six Principle Plans.

“The Anan’s report to the National Security Council will provide a true account of what is happening on the grounds and we, on our part, will follow the steps and the mechanisms required to implement and execute them. However, the Syrian Government needs

to commit itself to them which we will find out during the Arab Foreign Ministers April 26,” he explained.

As for the Gulf Corporation Council’s (GCC) extraordinary meeting which was held in the Qatari capital Doha, the foreign minister said that the meeting was held at a request made by the United Arab Emirates (UAE) to discuss the visit of the Iranian President to the island of Abu Musa.

“There is an agreement and a belief entertained by all the GCC member states that the negotiations and tribunal are the only means to resolve the issue. The GCC has the deepest appreciation and respect to the international conventions especially to the neighboring country Iran in terms of good relations and mutual respect and therefore Iran on its part should respect such principles too,” he remarked.

Meanwhile, the Foreign Minister Sheikh Sabah AlKhaled said that he had no idea about reports that Iraqi groups shut down the border port Safwan on the Iraqi side in response to Kuwait’s Mubarak Al-Kabeer Port.

“We are dealing with an official government and we would be informed if such action was taken especially when we are visiting Iraq within a few days to discuss all pending issues in order to try to finalize them in a joint committee meeting,” he noted.

As for the Kuwaiti-British ties, the foreign minister said that the relationship between the two countries is “excellent”. He went on to add that the Kuwaiti government’s policy is keen to cement such relations at all levels expressing his joy to take part in Queen Elizabeth II’s birthday.

Deputy Prime Minister and Minister of Foreign Affairs Sheikh Sabah Al-Khaled Al-Sabah (left) with the British Ambassador to Kuwait Frank Baker (center) and his wife during a celebration held to commemorate Queen Elizabeth II’s 60th birthday on Wednesday, April 18, 2012. (Al Watan)

Human Rights group describes Iranian embassy Rhayya fire catastrophic, irresponsible celebrates Army Day despite criticism Hamed Al-Azmi Staff Writer

KUWAIT: The Iranian ambassador to Kuwait Rouhallah Kahramani denounced the stand of a number of lawmakers who criticized the Iranian embassy for holding a celebration on the occasion of the anniversary of the Iranian Army Day. Lawmakers had opposed holding the celebration outside the embassy, arguing that having it at a hotel was a provocation to the feelings of Kuwaitis and Gulf nationals. The ambassador defended the decision to hold the reception as a “normal event.” “There is nothing odd about the embassy holding a celebration outside its premises,” he said.

In a statement to the press on the sidelines of the Army Day celebration, which included showing some pictures of Iranian military equipments, that his Millions of tires burn in Jahra, north-west of Kuwait City on April 17, 2012. (Al Watan) Staff Writer

KUWAIT: The Chairman of the Kuwait Society for Human Rights Khaled Al-Hameedi has affirmed that the Rhayya inferno is catastrophic, saying that it exposed the country to many environmental and security risks. He predicted that the incident will be followed by numerous health risks unless its aftermath is properly addressed.

Speaking to Al Watan, the activist said that the incident is a clear violation of human rights and reflects the underestimation of many security, environmental and health aspects.

Al-Ajmi further regarded what happened in Rhayya area as a catastrophe and a clear manifestation of irresponsibility, noting that a lot of relevant authorities have shirked their direct responsibility. He added that efforts should be made to pinpoint responsibility in a transparent manner to avoid the reoccurrence of such incidents, and pointed out that credited scientific methods should be followed to dispose of industrial waste and used tires.

Al-Ajmi concluded his statement by asserting that the protection of human rights is not restricted to material and humanitarian aspects per se; rather, it also includes health, environmental and security domains.

It was reported earlier this month by Al Watan that more than five million discarded used car tires in

a junkyard dump pose legitimate health and environment threats; especially if a fire breaks out in the area, because it will affect people living in Jahra and Saad Al-Abdullah area.

Al Watan television and newspaper toured the location of the junk yard that is five kilometers away from Jahra and Saad Al-Abdullah cities.

Al Watan crew was escorted by Municipality Council member Abdullah Al-Enezi, who highlighted the fact that the tires junk yard is a serious health threat; especially that those discarded tires form black hills and valleys.

He highlighted that in case of a fire, firemen will not be able to overcome the flames, and stressed that the fire will be much worse than the fire that broke out at oil wells during the Iraqi invasion. He called for handling those discarded tires in a scientific way that can be profitable to the government, such as allowing private sector companies specialized in that field of business to handle that matter and invest in this field.

As was feared, the mountains of used tires were set on fire where hundreds of Kuwaiti firemen on Tuesday fought to contain the massive fire.

Firemen from the National Guard, the army and the oil sector joined efforts to extinguish the fire that was still raging 10 hours after it broke out in the dump, the fire department said. The fire was finally extinguished Thursday morning.

KISR launches 1 million palm trees campaign Mervet Abduldayem Staff Writer

KUWAIT: The Kuwait Institute for Scientific Research (KISR) has launched the one million palm trees campaign at the Abdulatiff Al-Nisf Intermediate School for Boys under the auspices of the Minister of Public Works and the Minister of State for Development Dr. Fadhil Safar.

In a speech he delivered on the occasion, the minister said that the idea of growing one million trees is a positive thing that needs to be encouraged and supported, adding that Kuwait has been particular about agriculture and beautification.

Safar further told the audience that the State is committed to turn 10 percent of its size to nature reserves, a figure which the country is close to achieving.

The minister explained that the State’s support for agriculture is embodied in the form of providing financial support to farmers and subsidizing fodder as well as offering insecticide. He also mentioned government’s efforts in supporting researches aimed at promoting agriculture.

For his part, the KISR Director General Dr. Naji AlMutairi stated that the institute is keen on supporting this ambitious project considering its potential to involve the society in improving the environment as well as its impact on human health and beautiful scenery.

Al-Mutairi further noted that KISR focuses on the implementation of new techniques that contribute toward overcoming the country’s harsh environmental conditions, while citing certain successes registered by the institute in this regard.

The Director also catalogued the institute’s future

plans including the establishment of a company for agricultural production in conjunction with relevant research institutions.

He also added that other plans include the organization of a competition to select new kinds of palm trees involving those interested in such endeavors.

For her part, the Secretary General (SG) of the Environment Protection Society Wajdan Al-Iqab said that the society aspires through this project to increase the level of environmental awareness and to entrench green culture as well as preserve the environment. She added that the society equally plans to secure more green areas and contribute toward outlining a food security strategy through growing the best types of palm trees. She revealed that the number of palm trees will be listed and that an environmental plan will be laid out pinpointing the distribution of palm trees across the country. The SG did not rule out the construction of a specialized environmental center that will continue to cooperate with the campaign.

The school principal Mahmoud Al-Qallaf, in the meantime, stated that the importance of palm tree is evident in its citation in the Holy Quran, while enumerating its benefits. Moreover, the Yarmouk local chief Engineer Abdul-Aziz Al-Mishari affirmed the keenness of the society on the implementation of this project, which led to self-sufficiency.

In the same vein, the head of the National Campaign for the said project Adel Dashti said that the dream for launching the project has been achieved after three years due to the cooperation of the team behind it. He lauded their tireless efforts and steadfastness in achieving the project despite facing numerous challenges in the process.

country hopes to strengthen its ties with the countries of the region.

Regarding the visit of the Iranian president to the Emirati Islands, the ambassador said that the recent statement of the Gulf countries indicates that they misunderstood the visit of the president, adding that such matter should not attract the attention of the Gulf countries given that Iran abides by the agreements signed with the United Arab Emirates. He said that the pending issues can be solved through negotiations and dialogue.

As to the Iranian lawmakers who rejected the negotiations with the UAE despite the Iranian foreign minister’s countering response, Kahramani said that the MPs have the right to express their opinion.

On his part, the Military Attaché at the Iranian Embassy Colonel Sayed Mujtabi Kamsari said that regional security

relies on the security and safety of the different countries of the region, indicating that Kuwait’s security can be considered as a part of the Iranian security. On his part, the Russian Ambassador to Kuwait Alexander Keshanik unveiled that Russia has certain commitments towards Syria, indicating that the political circumstances in Syria are progressing positively according to information released by the Russian ministry of foreign affairs. He added that the peace plan in Syria is being executed through three stages, in which the first started successfully after the monitors of the United Nations had arrived in Syria recently. In terms of the statement made by the Amir of Qatar, who stated that success of the peace plan in Syria did not exceed three percent, the ambassador said “the Amir seems to be pessimistic but we are optimistic and the Syrian crisis will be solved soon.”

Parliament committee discusses proposal on law about women rights KUWAIT: Parliamentary family and women affairs committee met on Thursday a specialized group of female figures on a number of issues that included a law proposal about social and civil rights of women, as well as grants housewives a financial bonus. In a press statement, MP Mohammad Al-Dallal, head of the committee, said the committee’s meetings discussed this issue with relative governmental bodies, which concentrated on issuance of civil and social rights of women

in one law, or to distribute it into several laws in accordance to the specialty.

Al-Dallal added that the committee members decided to issue the law of civil and social rights of women in one law, pointing out that number of texts would be left for other laws and to be discussed by other specialized committees such as early retirement committee.

Also, he said that the committee would continue its meetings until these laws are fully discussed and finalized in

order to submit them in a report to the National Assembly.

In addition, he noted the committee is going to prepare a statistical, informational, analytical report on all relative information about family members, which would be a relative database to family, explaining at the same time that the report would be issued regularly by the Parliament each year so that the committee and other bodies would benefit from it while making its decisions. -KUNA

DGCA signs transport, trade deals with Australia KUWAIT: The Directorate General of Civil Aviation (DGCA) announced on Thursday signing an agreement on organizing air transportation services between Kuwait and Australia, a Memorandum of Understanding (MoU) that included all operating points, as well as an agreement on trade cooperation between both countries’ airlines.

In a press statement, DGCA said that a meeting was held lately between representatives of both DGCA and Australian government, during which they signed the agreement and memo of understanding.

On his part, Engineer Nabil Abdulmehsen Al-Zamel, Deputy Director General for Aviation Safety and Air Transport Affairs, and head of Kuwaiti delegation during discussions, said that this agreement came under DGCA’s policy of opening of skies and enhancing bilateral air relations with other countries.

Al-Zamel added, this agreement also came within the context of facilitating the operation of commercial airlines for passengers and cargo of both countries, as well as linking Kuwait International Airport with a bigger number of international airports, which would strengthen

air transportation activity and encourage trade exchange between Kuwait and Australia. Since 2011, a total of 109 deals have been signed between Kuwait and other countries for organizing air trans-

portation services, an increase of five more agreements compared with 2010.

So far, about 57 airlines work at Kuwait International Airport, having served 8.5 million last year. -KUNA

Engineer Nabil Abdulmehsen Al-Zamel, Deputy Director General for Aviation Safety and Air Transport Affairs signing a MoU on organizing air transportation services between Kuwait and Australia on Thursday, April 19, 2012. (KUNA)

MPs call to set up prosecution, police dept. for vice crimes CONTINUED FROM PAGE 1

MP Adel Al-Damkhi revealed that the Majority Bloc met at MP Jamaan Al-Harbash office, where they agreed on making some amendments on laws, before discussing the matter on a wider scale among other bloc members at the diwaniya of MP Shaye Al-Shaye Sunday.

Women’s Affairs Committee discussed the draft law concerning the civil and social rights of women, including granting housewives monthly bonuses.

Education Committee approved yesterday the amendments on Jaber University for Applied Science, and head

of the committee MP Al-Harbash stated that according to the amendments, the ministry of Education will be responsible for establishing four colleges within the coming three years.

Finance and Economic Committee Rapporteur Ahmad Lari announced that the committee has completed 60 articles of the tenders’ law, and that there are 22 articles that will be completed Monday.

Meanwhile, Head of Human Rights Committee MP Adel Al-Damkhi revealed that the Ministry of Foreign Affairs has informed the committee that it approves its visit to Guantanamo Prison to examine the living conditions of Ku-

waiti prisoners there. He added that the committee has also agreed on the draft law concerning domestic laborers, and said that there will be a meeting with the Ministry of Interior regarding that issue; especially after the criticism that Kuwait faces internationally as a result of the absence of laws that organize their work and protect their rights.

Moreover, 16 MPs submitted requests to allocate one hour during Tuesday’s session to discuss the tires dump yard fire in Jahra, in addition to listening to the government regarding its preparations to face any environmental catastrophes in the future.

ALWATAN DAILY

KUWAIT

fridAY, april 20, 2012

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Sultan Qaboos leaves Kuwait KU council approves after official talks with Amir four Masters Program projects KUWAIT: Sultan Qaboos bin Said of Oman left Kuwait on Thursday, concluding a four-day brotherly visit during which he held official talks with His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber AlSabah.

The Sultan was greeted upon departure by the Amir as well as His Highness the Crown Prince

Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, National Assembly Speaker Ahmad Al-Saadoun, Deputy Chief of the National Guard Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah, His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, senior officials, and senior officers of the Army, Police, and National Guard. -KUNA

His Highness the Amir Sheikh Sabah Al-Ahmad AlSabah (right) accompanying Sultan Qaboos bin Said of Oman (left) prior to his departure on Thursday, April 19, 2012. (KUNA)

Kuwaiti Minister in Iraq to deliver Amiri message SULAIMANIYAH, Iraq: Kuwait’s Minister of the Amiri Diwan Affairs Sheikh Nasser Sabah Al-Ahmad Al-Jaber Al-Sabah arrived here Thursday to deliver a message from His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah to Iraqi President Jalal Talibani. Sheikh Nasser was received by Deputy Prime Minister of the Iraq’s Kurdistan region Emad Ahmad and a number of other officials.

Sheikh Nasser told Kuwait News Agency (KUNA) that the Amir was very keen on developing relations with Iraq for the betterment and prosperity of people in both nations. The Kuwaiti Minister is accompanied

by Kuwaiti Ambassador to Iraq Ali Al-Mo’men in addition to other Kuwaiti officials. In addition, Iraqi President Jalal Talabani held a luncheon in honor of Sheikh Nasser and his accompanying party. -KUNA

University signs new infrastructure contract worth 24.8 million dinars

KUWAIT: The Council at Kuwait University (KU) approved on Thursday the suggestions made by the Higher Studies Faculty in terms of four projects concerned with establishing new Masters program courses at Kuwait University. The meeting was chaired by the Minister of Education and the Minister of Higher Education Dr. Nayef Al-Hajraf.

The Spokesman of Kuwait University, Faisal Muqaised said in a press statement, that the council has approved the Masters program courses in the fields of Nutrition, Food Science, Pharmacology, and Computer Engineering, adding that the council also approved amending certain aspects of the Masters course of Anatomy.

He pointed out that the council approved upgrading some members of the teaching staff at different colleges as well as approving the raising of bonuses to the directors, advisors and arbitrators who follow up the dissertations of students at higher studies faculty.

The council also approved the suggestion made by the English Language Department to establish Comparative Literature and Applied Linguistics as two separate majors. Muqaised said that the council approved the academic calendar for the academic years 2012/2013 and 2013/2014, in addition to approving the suggestion of the deputy director of the university for granting the teaching staff members incentive awards for the researches conducted.

In another development, KU signed a contract for establishing and maintaining infrastructure projects west of Sabah Al-Salem campus. The projects are worth KD 24.8 million and are expected to be accomplished within 26 months, the university said in a statement on Thursday.

The director of the constructional program at KU Dr. Rana Al-Faris said that this is the eighth contract to be signed at campus.

She disclosed that the contract of establishing the outer fence has already been signed, including that of the administrative services building. She indicated that the

Group photo of the Council at Kuwait University during a meeting on Thursday, April 19, 2012. (KUNA)

Kuwait University signing a contract for establishing and maintaining infrastructure projects on Thursday, April 19, 2012. (KUNA)

first part of infrastructure works has started from the first quarter of 2010.

On his part, the engineer responsible of following up executing the project Mohammad Abdulmughni said that the project includes establishing the western section of the subway which can be considered as the backbone of campus. He added that, according to the contract, all lines and networks of the infrastructure, which provide the campus with the different services, will be extended in a certain

period of time.

He affirmed that the very project includes establishing fire escapes and many other works. The meeting of signing the contract was attended by the Director of Kuwait University Dr. Abdulatif Al-Badr and his assistant the Director of the Constructional Program Dr. Rawaa Al-Jarralh in addition to the representative of First Kuwaiti general trading contracting company, the company that won the tender of carrying out the project. -KUNA

Developments to enhance medical services at Jahra governorate

Kuwait’s Minister of the Amiri Diwan Affairs Sheikh Nasser Sabah Al-Ahmad Al-Jaber AlSabah and Prime Minister of the Iraq’s Kurdistan region Emad Ahmad during a meeting held on Thursday, April 19, 2012. (KUNA)

KUWAIT: Head of the Primary Health Care Unit in Jahra Governorate Dr. Shaikha Al-Hajri announced, Thursday, launching future projects to enhance the standard of currently offered health services.

This would include operating the electronic file system at maternity clinics, offering developed sonar devices, and building a new health center in Abdali area in the north of the country.

The official told Kuwait News Agency (KUNA) that the primary care units located in various parts of the governorate are offering an array of basic medical services for patients. The large area of Jahra governorate, besides annexing new residential ar-

Kuwait vows to continue Women’s Association support to charity projects in Egypt organize health awareness day Staff Writer

KUWAIT: The Health Committee at Volunteer Women’s Association organized an awareness day at the headquarters of the association in Dasma area in cooperation with Kuwait Heart Association, it said in a statement on Thursday.

The activities of the day were conducted under the supervision of the chairman of the society Sheikha Latifa Al-Fahad Al-Salem Al-Sabah.

The activities can be considered as part of the association’s strategy to resist non-infectious and critical diseases through increasing people’s awareness of early disease detection.

The head of the committee and the board

Photo of Kuwait’s Ambassador to Egypt Dr. Rasheed Al-Hamad taken on Thursday, April 19, 2012. (KUNA)

CAIRO: Kuwait’s Ambassador to Egypt Dr. Rasheed Al-Hamad affirmed Thursday, Kuwait’s continuous support to charity projects in Egypt, especially Children’s Cancer Hospital.

During his visit to the hospital, the Kuwaiti ambassador was accompanied by Aisha Al-Yahya, the Head of the Family and Children Programs Department at Kuwait Radio.

Speaking to Kuwait News Agency (KUNA), he revealed that the visit came at the invitation of prominent Kuwaiti media woman AlYayha, to share the deliverance of aid and gifts to the hospital.

Kuwait’s enduring support to Egypt reflects the Kuwaiti people’s keenness on humanitarian aid to charity projects in Egypt, AlHamad added.

He explained that this mirrors the strong relations between the two countries in all fields.

Al-Hamad praised the Kuwaiti humanitarian help to the hospital that would benefit children cancer patients in Egypt. -KUNA

members of association Hind Al-Shoumar said that association organized the day to enhance its role as non-profit association. She added saying that association had provided people with certain instructions such as practicing sports for at least 30 minutes a day and having healthy diet that included fruits and vegetables as well as avoiding smoking.

Al-Shoumar extolled the cooperation of the Heart Association, describing the step as a positive one that enhances cooperation amongst non-profit organizations based on the decisions of the United Nations and World Health Organization, which usually highlight the significance of the role of civil society for achieving the developmental goals.

Azeri youth minister stresses deep ties with Kuwait KUWAIT: Visiting Azeri Minister of Youth and Sports Azad Rahimov underlined here Thursday deep youth and sports relations between Azerbaijan and Kuwait.

Speaking at a news conference at Kuwait’s Public Authority for Youth and Sports (PAYS) following a meeting with PAYS Chairman Faisal Al-Jazzaf, the Azeri minister said he had discussed with the Kuwaiti official a host of significant issues in the youth and sports realm, especially regarding relevant cooperative deals.

He hoped that his visit would lead to rein-

forcing and cementing cooperation and coordination between both countries’ youth; mainly exchange of visits and youth friendship weeks.

For his part, the PAYS chief hailed KuwaitiAzeri sports relations, which have greatly developed over the recent period.

He boasted that Kuwait enjoys several sports and youth facilities that are able to receive foreign sports delegations. Al-Jazzaf also underlined the importance of putting in place all bilateral agreements signed by both sides to beef up sports cooperative ties. -KUNA

eas like Sa’ad Al-Abduallah, and the services required by workers in nearby factories put a big burden on the facilities there, she added. New specialized clinics were established in centers affiliated with Al-Jahra Hospital like Al-Oyoon center, and a healthy child unit was also set up in Al-Naseem and Al-Jahra centers, and another Health clinic in Al-Jahra center.

A number of new medications for chronic diseases are now available for patients suffering high blood pressure and diabetes.

The large number of patients at peak hours puts great stress and pressure on staff at the facilities, which results in deterioration of the quality of service. -KUNA

Envoy meets Argentine tourism minister BUENOS AIRES: Argentinean Minister of Tourism Carlos Enrique Meyer received Kuwait Ambassador Saud Abdulaziz Shamlan Al-Roumi to discuss bilateral cooperation in the economic and tourist areas.

During the meeting, held here last night, the minister voiced desire to visit Kuwait after taking part in the international trade fair, due in the United Arab Emirates in late April, a statement by Kuwait Embassy said on Wednesday. Meyer said his ministry is implementing a program to attract Kuwaiti tourists in the light of the results of the visit to Kuwait by President Cristina Fernandez de Kirchner in January, 2012. On his part, Al-Roumi said his government encourages the Kuwaiti tourists to visit friendlyArgentina and is working to enhance the economic, commercial and investment exchanges with the Latin American country. -KUNA

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ALWATAN DAILY

regional

FRIDAY, APRIL 20, 2012

Bashir says Sudan Syria-UN sign agreement to teach South ‘final lesson by force’ on monitoring mission Deputy military adviser in the UN Department of Peacekeeping Operations Gen. Abhijit Guha looks over as Syrian Deputy Foreign Minister Faisal Meqdad signs a preliminary accord on April 19, 2012, in Damascus, outlining a protocol for a UN mission to monitor a fragile week-old ceasefire in the strife-torn country. (AFP)

DAMASCUS/GENEVA: Syria and the United Nations signed an agreement on Thursday on the terms of a ceasefire monitoring mission, the Syrian Foreign Ministry said.

“This preliminary agreement ... aims to facilitate the task of the observers within the framework of Syrian sovereignty,” the statement said.

A statement from UN-Arab League mediator Kofi Annan said the Syrian government and the United Nations had agreed a basis for a “protocol” on the deployment of more observers.

“This agreement outlines the functions of the observers as they fulfill their mandate in Syria and the tasks and responsibilities of the Syrian government,” Ahmad Fawzi, Annan’s spokesman, said in a statement.

Fawzi said Annan’s team was holding “similar discussions with representatives of the opposition on the tasks and responsibilities of the armed opposition groups.”

The 15-member UN Security Council will meet at 9:00 am (1300 GMT) on Thursday for a briefing by Annan’s deputy, Jean-Marie Guehenno, which will be crucial in determining whether the conditions are right for deploying a larger monitoring mission to Syria.

US and European diplomats on the council have

suggested that Syria’s lack of full compliance with its obligations to end the violence may make it difficult for them to support a new resolution that would be needed to deploy an expanded observer mission.

In a letter to the Security Council, UN chief Ban Ki-moon said Syria has not fully withdrawn troops and heavy weapons from towns, failing to send a “clear signal” about its commitment to peace, underlining Western fears for the week-old truce.

In the first progress report since the Security Council passed a resolution on Saturday authorizing the deployment of observers, Secretary-General Ban proposed an expanded mission of 300 personnel to monitor a shaky ceasefire between forces loyal to President Bashar Al-Assad and opposition fighters.

Ban said this week that 250 observers were too few in a country of 23 million where the United Nations says at least 9,000 people have been killed in the past 13 months. He sought European help in supplying planes and helicopters.

But Syrian Foreign Minister Walid Al-Moualem said 250 was a “reasonable number”, adding they should be from countries such as China, Russia, Brazil, India and South Africa - all more sympathetic to Damascus than are the West or the Arab League. He also dismissed any need for UN aircraft. -Reuters

Iraq attacks kill at least 35

Residents inspect the site of a bomb attack in Baquba, 65 km (40 miles) north of Baghdad, April 19, 2012.

More than 20 bombs hit cities and towns across Iraq on Thursday, killing at least 36 and wounding almost 150, police and hospital sources said, raising fears of sectarian strife in a country whose authorities are keen to show they can now maintain security. (Reuters)

BAGHDAD: A wave of bombing and shooting attacks in six different provinces across Iraq killed at least 35 people and wounded more than 150 on Thursday, security officials said.

It was the deadliest day in Iraq since March 20, when shootings and bombings claimed by Al-Qaeda front group in the Islamic State of Iraq killed 50 people and wounded 255 nationwide. Twenty-two civilians, eight police, three members of an anti-Qaeda militia and two soldiers were killed in dozens of attacks, including 14 separate car bombings. Bombings in and around Baghdad killed at least 17 people and wounded 97, an interior ministry official said.

A car bomb targeting Health Minister Majid Hamed Amin’s convoy in Haifa Street in the heart of the capital, killed two civilians and wounded nine people, including four of the minister’s guards.

Another car bomb in the Al-Amil neighborhood of south Baghdad killed two people and wounded 17.

Two people were killed and four wounded in a car bomb against a checkpoint in Palestine Street in the east of the capital, while a fourth car bomb in Kadhimiyah, a Shiite shrine district in north Baghdad, killed three people and wounded 20.

A fifth car bomb against a Turkmen social club on Palestine Street killed two people and wounded six, and a roadside bomb in Zafraniyah in central Baghdad wounded six. In Taji, north of the capital, two roadside bombs killed one person and wounded five, while two car bombs and a suicide bombing killed five people and wounded 24. In Tarmiyah, also north of Baghdad, a suicide bomber blew up a vehicle by an army base, killing one soldier and wounding six. In northern Iraq, bombings in Kirkuk province killed nine people and wounded 24, high-ranking police officers said.

A car bomb against the convoy of police Brigadier General Taha Salaheddin south of Kirkuk city killed two police and wounded 15 other people.

Another car bomb in the city center killed two police and wounded three, a high-ranking police offi-

cer said on condition of anonymity. Six bombs against houses in the town of Malha, 40 kilometers (25 miles) northwest of Kirkuk, killed five people including an army major and wounded six, police Brigadier General Sarhad Qader said. And in Ramadi in Anbar province, west of the capital, two car bombs against police patrols killed one person and wounded nine, a police source said. In Baquba, the capital of Diyala province, a suicide bomber blew himself up in the home of police First Lieutenant Mohammed Al-Tamimi, killing him and wounding four family members, an Iraqi army lieutenant colonel and Dr Ahmed Ibrahim of Baquba General Hospital said.

A suicide car bomb against a police checkpoint in the city centre killed two policemen and wounded two other people. Another policeman was killed by gunmen in the town of Al-Mansuriyah north of Baquba, while a bomb against a home in the town wounded three people. A bomb targeting a home in Ghalbiyah, west of Baquba, also wounded three people.

In Samarra, in Salaheddin province, two car bombs exploded near checkpoints of anti-Qaeda militiamen, killing three people and wounding six, militia commander Majid Abdullah and a police lieutenant colonel said. And a bomb in a restaurant in the main northern city of Mosul, capital of Nineveh province, wounded three people, a police captain said.

Deputy parliament speaker Aref Tayfour said in a statement that additional security measures were needed nationwide, and called on Iraqi politicians to avoid “speeches that can lead to more tension”.

Political tensions have risen sharply in recent days after key Iraqi factions accused Prime Minister Nuri AlMaliki of orchestrating a slide away from the electoral process and towards dictatorship with the arrest of election commission chief Faraj Al-Haidari last week.

Haidari and Karim Al-Tamimi, another member of the Independent High Electoral Commission who was also detained for suspected corruption, were released on bail on Sunday. -AFP

KHARTOUM: Sudan’s President Omar Hassan Al-Bashir threatened war against his newly-independent neighbor on Thursday, vowing to teach South Sudan a “final lesson by force” after it occupied a disputed oil field. Appearing in medal-spangled general’s uniform at a large rally in the border province of North Kordofan, the burly military ruler danced side-to-side, waved his walking stick in the air and made blistering threats against the leadership of the South, which broke off last year after decades of civil war.

“These people don’t understand, and we will give them the final lesson by force,” Bashir told the rally in El-Obeid, North Kordofan’s capital.

“We will not give them an inch of our country, and whoever extends his hand on Sudan, we will cut it.” South Sudan separated from the rest of Sudan with Bashir’s blessing last July under the terms of a 2005 peace deal. But since then violence has steadily escalated, fuelled by territorial disputes, ethnic animosity and quarrels over oil.

Last week, South Sudan seized Heglig, a disputed oil field near the border between the two countries, claiming it as its rightful territory and saying it would only withdraw if the United Nations deployed a neutral force there.

Bashir vowed to retake the oil field, which he said was part of Sudan’s Kordofan province. That alone would not resolve the conflict, he added. “Heglig is not the end, but the beginning.” Global powers have voiced alarm at the escalation of violence and urged the two to stop fighting and return to talks.

In a dramatic escalation of rhetoric on Wednesday, Bashir said he would “liberate” South Sudan from its rulers, the Sudan People’s Liberation Movement, which fought the guerrilla civil war against Khartoum.

There was no immediate comment

Medical staff collect blood on April 19, 2012 at a temporary clinic that opened at the Presidential Palace in Khartoum to donate blood to those injured in the latest fighting in the central region of Heglig. Sudanese President Omar Al-Bashir has upped war rhetoric in the wake of clashes that erupted last month with South Sudan’s seizure of the disputed Heglig oilfield on April 10, and escalated last week with waves of aerial bombardment by Sudan. (AFP)

from the South to Thursday’s speech.

China, a major investor in both countries, expressed “serious concern” about the increase of tensions and called on both sides to stop fighting, “maintain calm and exercise maximum restraint”.

“China has worked hard to ameliorate the problems between the two Sudans, and we will continue to work with the international community at mediation efforts,” Foreign Ministry spokesman Liu Weimin told a daily news briefing. Some 2 million people died in Sudan’s civil war, fought for all but a few years from 1955 to 2005 over disputes of ideology, ethnicity and religion.

The countries remain at odds over the position of their border, how much the landlocked South should pay to transport

its oil through Sudan and the division of national debt, among other issues.

Both countries accuse each other of waging proxy war through militia operating on each other’s territory.

Sudan’s military - with an air force, tanks and artillery - is far better equipped than the former guerrilla fighters who make up the South Sudan army. In addition to the civil war in the south, Sudan has also fought long-simmering rebellions in Kordofan and Darfur.

Bashir is wanted by the International Criminal Court in the Hague for war crimes in connection with the Darfur conflict, charges he rejects as political. The south has tens of thousands of fighters under arms, with decades of experience in guerrilla conflict. -Reuters

Arab energy subsidies waste billions: UN report

UNITED NATIONS: Arab countries are wasting tens of billions of dollars on subsidies for petrol and energy but dare not roll them back for fear of a political backlash, a UN report said. The UN Development Program (UNDP) report this week said six of the world’s 10 biggest subsidizers are in the Arab world, led by Kuwait, Saudi Arabia and Qatar. People in the three countries pay less than a third of world prices for car fuel and electricity.

The annual cost for Saudi Arabia is more than $43 billion, $4.15 billion for Qatar, $10.59 billion for Algeria, the report said quoting International Energy Agency figures.

The $20 billion-plus that Egypt spends each year takes up 9.3 percent of the country’s gross domestic product.

While government say they aim to protect low income families from high fuel costs, the subsidies help the rich more than the poor, the report said. In Egypt, the top 20 percent wage earners get 33 percent of the energy subsidies, against 3.8 percent for the poorest families. For gasoline, 93 percent of the subsidies go to the rich.

The subsidies also distort the economy by encouraging waste and holding up investment in renewable energy, the

report said. Energy consumption in the Arab world tripled between 1980 and 2008.

UN researchers said the money could be better spent on infrastructure and social spending.

In 2008, spending on energy subsidies in Egypt, Jordan and Syria accounted for more than spending on education and health.

“While energy subsidies do benefit low income households, they must be seen as a costly and inefficient tool to protect the poor in the Arab world,” said the report.

The report highlighted attempts in Jordan, since 2005, Syria, since 2008, and Iran, over the past two years, to move away from subsidies.

But it said “the political climate resulting from the 2011 Arab uprisings will increase the political adversity facing many Arab governments pursuing painful economic reforms, including the reform of domestic energy prices.” Jordan halted its reforms in January 2011 and the report said “unfolding political events in Egypt which resulted in the fall of president Hosni Mubarak in February 2011 are likely to delay much needed energy pricing reforms” there. -AFP

Persepolis trial of Tunisia TV chief resumes

TUNIS: The trial of a television station director accused of insulting sacred values for having screened the Franco-Iranian film “Persepolis” resumed Thursday in Tunisia under tight security. Supporters of Nessma television chief Nabil Karoui and Islamists held rival protests outside the Tunis court, which was heavily guarded by police screening anyone trying to get into the chamber of the trial. “It’s a decisive day for freedom of speech and of the press,” Karoui told AFP. “The verdict will be historic and will have an effect on the region,” he added.

Karoui’s station broadcast the awardwinning animated film “Persepolis”, which recounts the Iranian revolution and its aftermath through the eyes of a young girl, on Oct. 7 last year.

But it sparked outrage because of a scene depicting God, whose representation is banned in Islam.

Within two days of the broadcast, Islamic militants attacked the television station’s offices and Karoui’s own home during violent demonstrations in Tunis.

On Thursday, dozens of young hardline Salafist Muslims set up a loudspeaker outside the courthouse, waving the black Salafist flag and shouting “Get lost!

Shameful media get lost!” On the other side of the courthouse, Nessma supporters sang the national anthem and chanted “Free media in Tunisia!”

Karoui’s trial opened on November 16 and has twice been adjourned.

Although Karoui has apologized for causing any offence, the case has become a cause celebre, a battleground between Islamist militants and secular, liberal elements protesting what they say is the rise of religious extremism.

A defence committee has been set up to provide support for Karoui. An earlier court hearing in January was disrupted, as the defendant denounced what he called

a political trial and the court erupted in an uproar. As the trial resumed Thursday, Nessma television complained it had been deprived of its right to operate freely and denounced what it said was an attempt to silence it.Amnesty International called on Tunisia’s new Islamist-led government not to repeat the repression of ex-president Zine El Abidine Ben Ali, the first leader overthrown in the Arab Spring.

“Prosecuting and convicting people on the basis of the peaceful expression of their views, even if some might find them offensive, is totally unacceptable and not what we would expect from the new Tunisia,” said Hassiba Hadj Sahraoui, regional deputy director for the rights group.

“It’s reminiscent of the violations of the ousted Ben Ali government and must stop.” French lawyers were also in court

and France’s International Federation of Human Rights (FIDH) sent an observer.

“We’re here to check and confirm that international agreements are respected in this trial,” said FIDH’s Antoine Garapon, a French magistrate.

“It involves a fundamental principle, that of freedom of expression and freedom of creation,” he added, calling the trial a test of Tunisia’s democracy.

“It’s particularly significant given the tensions between the political and religious spheres,” he said.

Daily newspaper The Maghreb ran an editorial Thursday devoted to “freedom of expression first”.

The case has drawn politicians, bloggers, journalists and activists to court, with a string of lawyers expected to take the floor in succession. -AFP

Tunisian Salafists hold placards outside the courthouse in Tunis, January 2012.

The trial of a television station director accused of insulting sacred values for having screened the Franco-Iranian film “Persepolis” resumed in Tunisia under tight security. (AFP)

ALWATAN DAILY

WORLD

fridAY, april 20, 2012

India tests nuclear-capable missile that can reach China BHUBANESWAR: India successfully testfired on Thursday a nuclear-capable missile that can reach Beijing and Eastern Europe, thrusting the emerging Asian power into a small club of nations that can deploy nuclear weapons at such a great distance.

Footage showed the rocket with a range of more than 5,000 km (3,100 miles) blasting through clouds from an island off India’s east coast. It was not immediately clear how far the rocket flew before reaching its target in the Indian Ocean.

The defense minister said the test was “immaculate”.

“Today’s successful Agni-V test launch is another milestone in our quest to add to the credibility of our security and preparedness,” Prime Minister Manmohan Singh said in a message to the scientists who developed the rocket.

Almost entirely Indian-made, the Agni-V is the crowning achievement of a program developed primarily with a threat from neighboring China in mind. It will not be operational for at least two years, the government says.

Only the UN Security Council permanent members - China, France, Russia the United States and Britain - along with Israel, are believed to have such long-range weapons.

Fast emerging as a world economic power, India is keen to play a larger role on the global stage and has long angled for a permanent seat on the Security Council. In recent years it has emerged as the world’s top arms importer as it upgrades equipment for a large but outdated military.

“It is one of the ways of signaling India’s arrival on the global stage, that India deserves

This handout photo taken and received on April 19, from the Defense Research and Development Organization (DRDO) under India’s Defense Ministry shows a long range missile being fired off from a mobile launcher from Wheeler Island, off the coast of India, in the Indian state of Orissa. (AFP)

to be sitting at the high table,” said Harsh Pant, a defense expert at King’s College, London, describing the launch as a “confidence boost”.

The launch, which was flagged well in advance, has attracted none of the criticism from the West faced by hermit state North Korea for a failed bid to send up a similar rocket last week.

China’s Foreign Ministry said the two countries should “work hard to uphold friendly strategic cooperation”, and for peace and stability in the region.

“China and India are large developing nations. We are not competitors but partners,” the Chinese ministry spokesman, Liu Weimin, said

when asked about the missile test at a briefing.

The Global Times tabloid, which is owned by the Chinese Communist Party’s main mouthpiece the People’s Daily, struck a less conciliatory tone.

“India should not overestimate its strength, “the paper said in an editorial published before the launch, which was delayed by a day because of bad weather.

India has not signed the non-proliferation treaty for nuclear nations, but enjoys a de facto legitimacy for its arsenal, boosted by a landmark 2008 deal with the United States.

On Wednesday, NATO said it did not consider India a threat. The US State Department said India’s non-proliferation record was “solid”, while urging restraint.

India says its nuclear weapons program is for deterrence only. It is close to completing a nuclear submarine that will increase its ability to launch a counter strike if it were attacked.

India lost a brief Himalayan border war with its larger neighbor, China, in 1962 and has ever since strived to improve its defenses. In recent years the government has fretted over China’s enhanced military presence near the border.

It is buying more than 100 advanced fighter jets, likely Rafales built by France’s Dassault, in one of the largest global arms deals.

Even so, slow procurement procedures and corruption scandals mean its army, the world’s second biggest, relies on critically outdated guns and suffers ammunition shortages.

Defense analyst Uday Bhaskar said India was not in an arms race with China, which has far greater capabilities, including missiles with a range closer to 10,000 km (6,000 miles). -AP

to Europe’s biggest economy, Merkel set up forums six years ago to improve integration, a highly charged issue.

Two years ago a painful row erupted over a bestselling book by former central banker Thilo Sarrazin, who argued that Turkish and Arab immigrants sponged off the state and threatened Germany’s culture.

Soon after, Germany’s then-President Christian Wulff won wide praise from Muslims by saying Islam was part of Germany.

Thursday’s conference is set to discuss the controversial distribution of the Koran by Salafists [ID:nL6E8FB32W].

The group “The True Religion” has already handed out several hundred thousand copies on streets across Germany, drawing criticism from many in Merkel’s conservative bloc, which is traditionally Catholic. The printer has now stopped printing the books.

Some Muslim groups have also criticized the Koran campaign but Kenan Kolat, the head of Turkish Communities in Germany, warned against hysteria.

“If there is a glorification of violence, if there is an infringement of free, democratic basic values, then there are police measures that can be used,” said Kolat.

“A statement by the Islam Conference which stresses the open and liberal spirit of our Republic against the background of the distribution of the Koran by Salafists would be a good signal,” Justice Minister Sabine Leutheusser-Schnarrenberger told Spiegel

corridors and railway routes for carrying supplies to and from landlocked Afghanistan. The link has become particularly important since Pakistan blocked NATO supplies from crossing its territory following an alliance airstrike that killed 24 Pakistani border troops in November.

On Thursday, foreign ministers of NATO’s 28 members and their Russian counterpart, Sergey Lavrov, were meeting in Brussels to discuss these and other issues

NATO Secretary General Anders Fogh Rasmussen presides over a meeting of NATO Foreign Ministers meeting in Brussels April 19. (Reuters)

The committee is tasked with monitoring breaches of sanctions against the North’s missile and nuclear programs. It is advised by the expert panel. The 16-wheel launcher, carrying an apparently new medium-range missile, was on show Sunday at a big military parade in Pyongyang to mark the centenary of the birth of the North’s founder Kim Il-Sung.

IHS Janes’s reported earlier that China appeared to have supplied either the design or the

MINSK: Belarussian President Alexander Lukashenko, under growing Western pressure over human rights, has put off his annual address to the nation and told officials to soften its foreign policy message, his office said on Thursday. The European Union has introduced travel bans and asset freezes against Lukashenko and a number of Belarussian officials and businessmen in response to the veteran leader’s crackdown on the opposition after his re-election in late 2010. Signaling Lukashenko’s willingness to repair relations with the West, his office said he had ordered references to “excessively tough response measures” in foreign policy to be removed from his annual address, initially planned for Thursday. -Reuters

Bin Laden’s family likely in Pakistan a few more days ISLAMABAD: Pakistan could take several more days to deport the widows and children of Osama bin Laden to Saudi Arabia, and perhaps Yemen, the former Al-Qaeda leader’s brother-in-law said on Thursday. The three women and two children were detained by Pakistani security forces after a secret US special forces raid killed bin Laden in the Pakistani town of Abbottabad in May last year. This month, a Pakistani court sentenced the women to 45 days in prison for illegally staying in the country. It ordered their deportation after the prison term which began on March 3 when they were formally arrested. -Reuters

BRUSSELS: European Union governments are to suspend most sanctions against Myanmar next week, EU diplomats said on Thursday, in recognition of rapid political and economic reforms after decades of military dictatorship. Envoys of EU governments reached a preliminary deal on the issue late on Wednesday and foreign ministers of EU states are expected to approve the move formally at a meeting in Luxembourg on April 23, after which it can take effect, diplomats said. The suspension of EU sanctions, which include a ban on investment and trade related to timber and mining, is likely to open doors to a flood of investment in the country which neighbors the world’s two biggest markets, China and India. -Reuters

German Interior Minister Hans-Peter Friedrich (2nd left) arrives for a German Islam Conference in Berlin, April 19. (Reuters)

Online. She is a member of the Free Democrats (FDP), Merkel’s liberal junior coalition partner.

Officially the Islam conference, comprising

as part of their regular consultations. A new proposal now being considered by Russian lawmakers would for the first time allow alliance members to set up a logistics facility in Ulyanovsk, Russia, for troops and cargo.

Officials said that there were “no differences” between the two sides on the use of the air base in Ulyanovsk.

“We expect to expand the transit options offered to us by Russia ... to Afghanistan,” NATO Secretary-General Anders Fogh Rasmussen said after the meeting.

“We appreciate very highly Russia’s contribution, which is based on our shared interests and contributes to our shared security,” he said.

Moscow views NATO’s military effort in Afghanistan as crucial for its own security interests, including helping to prevent instability from spreading into ex-Soviet Central Asia. But the former Cold War rivals remain sharply at odds over a US-led NATO missile defense plan in Europe that Washington says is aimed at deflecting a potential Iranian threat. Moscow fears it will eventually become powerful enough to undermine Russia’s nuclear deterrent.

Despite those differences, Russia has also cooperated with the alliance in suppressing piracy off the Somali coastline and in such areas as anti-terrorism, counter-narcotics and search and rescue at sea. -AP

UN probes claim China broke North Korea sanctions

UNITED NATIONS: United Nations officials are investigating allegations that China supplied technology for a North Korean missile launcher in a possible breach of UN sanctions, a leading defense journal said Thursday.

IHS Jane’s Defense Weekly quoted a senior official close to a United Nations Security Council sanctions committee as saying that an associated panel of experts was “aware of the situation and will pursue enquiries”.

Belarus leader puts off speech over foreign policy

Kazakhs jail 47 on terrorism charges

NATO, Russia mull closer cooperation in Afghan war BRUSSELS: NATO and Russia on Thursday discussed a plan to give the alliance a new logistics facility on Russian territory for the transfer of military cargo to and from Afghanistan, diplomats said.

NATO and Russia also examined ways of assisting Afghan government forces in their battle with the Taliban insurgency, the diplomats said on condition of anonymity in keeping with regulations.

Moscow has provided NATO with air

NEWS IN BRIEF

EU states agree in principle to suspend Myanmar sanctions

Merkel ally says Islam not part of Germany BERLIN: A leading member of Chancellor Angela Merkel’s conservatives said on Thursday that Islam did not belong to Germany, remarks sure to stir controversy as the government hosts a conference to improve the integration of Muslims.

A row over whether an ultra-conservative Salafist Muslim group should be allowed to hand out millions of free German translations of the Quran to non-Muslims had already raised tensions and threatened to overshadow the conference.

“Islam is not part of our tradition and identity in Germany and so does not belong to Germany,” Volker Kauder, head of Merkel’s conservative bloc in parliament, told the Passauer Neue Presse.

“But Muslims belong to Germany. As state citizens, of course, they enjoy their full rights.”

Germany is home to some 4 million Muslims, about half of whom have German citizenship. Many came from Turkey in the 1960s and 1970s and their hard work contributed to Germany’s post-war economic miracle. Germany’s total population is about 80 million.

While some people of Turkish origin have risen to prominent political and public positions, many others live in their own communities and studies show many youngsters struggle to learn German properly, limiting their chances of finding work.

In response to concerns about radicalization and aware of the potential boost a wellqualified cohort of young Muslims could give

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actual vehicle to the North.

It said the transporter-erector-launcher (TEL) is apparently based on a design from the 9th Academy of the China Aerospace Science and Industry Corporation.

Depending on when the vehicle - or its design - was passed to the North, China could be in breach of UN sanctions imposed after the North’s long-range missile tests in 2006 and 2009. -AFP

delegates from the federal and state governments and Islamic groups, will discuss questions such as forced marriage and the influence of Islamist groups on young people. -Reuters

ALMATY: A court in Kazakhstan sentenced 47 people to jail terms of up to 15 years on charges related to a spike in terrorist attacks in the Central Asian nation last year, prosecutors said Thursday. The month-long trial, which endedWednesday, was held behind closed doors in western Kazakhstan, and few details have been made public. One group of 42 defendants was jailed on charges including forming a terror group, financing extremist activity and organizing a series of attacks. The remaining five defendants, who were tried in a parallel case at a separate location, were linked to specific attacks in the western oil city of Atyrau in October. -AP

North Korea threatens war as Seoul unveils missile PYONGYANG: North Korea demanded Thursday that South Korea apologize for what it called insults during major anniversary festivities, or face a “sacred war”, as Seoul unveiled a new missile to deter its neighbor. Regional tensions have risen since Pyongyang went ahead with a long-range rocket launch last Friday, defying international calls to desist.

The event was to have been a centerpiece of celebrations marking the 100th anniversary Sunday of the “Day of the Sun”, the birthday of Kim Il-Sung who founded the communist nation and the dynasty which still rules it.

But the rocket, which the North said was designed to launch a satellite, disintegrated after some two minutes of flight.

“The puppet regime of traitors must apologize immediately for their grave crime of smearing our Day of Sun festivities,” said a government statement on Pyongyang’s official news agency.

Otherwise, it said, the North Korean people and military “will release their volcanic anger and stage a sacred war of retaliation to wipe out traitors on this land”. The North has several times demanded that the South apologize for perceived slights or face war since its longtime leader Kim Jong-Il died in December. Under his son and new leader Kim Jong-Un, it has struck a hostile tone with the South.

South Korea announced Thursday it has deployed new cruise missiles capable of destroying targets such as missile and nuclear bases anywhere in the North.

“With such capabilities, our military will sternly and thoroughly punish reckless provocations by North Korea while maintaining our firm readiness,” Major General Shin Won-Sik told reporters. Yonhap news agency said the new cruise missile could travel more than 1,000 kilometers (625 miles).

Cross-border tensions have been high since conservative President Lee Myung-Bak took

office in Seoul in 2008 and scrapped a nearunconditional aid policy.

“If our power is strong, we can deter enemy provocations,” Lee said Thursday, describing the North as “the world’s most hostile force”.

The North hit back at critical comments by Lee and by conservative media, which questioned the overall cost of the celebrations in a nation suffering acute food shortages.

Lee had said the estimated $850 million cost of the launch could have bought 2.5 million tons of corn. “Traitor Lee Myung-Bak took the lead in vituperation during the festivities,” said a joint statement by the North’s government, party and social groups.

“This is an intolerable insult to our leader, system and people and a hideous provocation that sparked seething anger among the whole people.” The North said its only aim was to launch a peaceful satellite, but the United States and its allies said this was a flimsy excuse for a test by the nuclear-armed nation of ballistic missile technology.

On Monday the United Nations Security Council including Pyongyang’s ally China strongly condemned the launch. Washington said it also breached a bilateral deal and suspended plans for food aid. The North has warned of unspecified retaliation. Some experts believe it will conduct a new nuclear test or further long-range missile tests, while others predict a border clash with the South.

It said the 16-wheel transporter-erectorlauncher (TEL) is apparently based on a design from the 9th Academy of the China Aerospace Science and Industry Corporation.

China said it had actively abided by UN resolutions while practicing “strict export control of proliferation materials”.

“China is always against the proliferation of weapons of mass destruction and the carrier equipment for such weapons,” foreign ministry spokesman Liu Weimin said in Beijing. -AFP

6

ALWATAN DAILY

OPINION

friDAY, april 20, 2012

The unholy alliance of Nejad, Bashar, Al-Maliki Abdullah Al-Hadlaq

I

n an attempt by the Persian President Ahmadinejad to export the Iranian problems overseas, at the same time to distract attention from the internal conflict and dispute over who has the ultimate power and upper hand in the country. As well as to draw unwanted attention away from the economic crisis and the decreased value of the Iranian currency not to mention the feel of total isolation as the international community imposes sanctions against Iran over the country’s state sponsored terrorism, nuclear program ambition, occupation of the Arab land of Al-Ahwaz. Nejad patronizingly and deliberately visited one of the three islands of the United Arab Emirates occupied by the Iranians and thus underscoring his country’s devious intentions. At the same time confirming many people’s doubts that the Iranian regime’s ambition for further expanding its territories has never ended.

As for the Alawite Baathist regime in Damascus, it is now busy planning in full coordination with terrorist groups such as the Iraqi Army of Mahdi which is loyal to the Imam Al-Sadr and has close relations with the extremist Shiites of Bahrain. In addition, the receiving of Bahraini terrorists the purpose of which is to train them on the use of weapons and arms. It is also expected that the Bahraini group would be trained on how to form cells and sub-groups, smuggle arms to Bahraini terrorists in the Kingdom of Bahrain to topple the regime there and cause havoc in the country.

The criminal regime of Bashar Al-Assad in Syria is

The two countries have signed and subscribed to the international agreements. Therefore, the issue of the Iranian occupation should be submitted to the International Court of Justice to look into this important issue.

planning to cement closer ties with the Iraqi terrorist group Hizb Al-Dawa of the Iraqi Prime Minister Nuri Al-Maliki.

Part of this new unholy alliance is to topple and destabilize the Kingdom of Bahrain.

This diabolical plan is only to pave the way to destabilize the security of the Gulf region and in particular the Gulf Cooperation Council for their stance and support of the popular Syrian revolution against the despotic regime of Bashar Al-Assad.

Bashar Al-Asad has given his personal instructions to his security apparatus to well receive the new Bahraini trainee groups. Both parties would be involved in military drills and training the aim of which is to stand firmly against any possible threats from their enemies. The training camps are set up in Syria as Iraq would be a little bit problematic and surely the Kingdom of Bahrain would be extremely difficult.

The Kingdom of Bahrain is now facing a united Syrian Iranian front along with Iraqi groups as well as the dubious Hezbollah in Lebanon to set up an operation room the purpose of which is to support and liaison with the various

terrorist groups and supply them with arms to topple the regime and to face the security forces of Bahrain. An unholy alliance consisting of those evil states is now involved in skirmishes against the Al-Jazeera Shield, a Gulf States joint military defense measure currently stationed in the Kingdom of Bahrain.

It is not a secret that the Iranian air force is at liberty to use the Iraqi air space with the total blessings of the Al-Dawa Party, the party of Prime Minister of Nuri AlMaliki. The overt flights are designed to support the regime of Bashar Al-Assad. The support is not restricted to arms and supplies but also logistics so that the tyrannical regime continues with its atrocious and humiliating treatment of its own people.

As for the Iranian president Ahmadinejad’s visit to the islands of the United Arab Emirates is a serious and unprecedented move and a blatant violation and impeachment of the international laws regarding the sovereignty of the nation states and in this case the United Arab Emirates.

The two countries have signed and subscribed to the international agreements. Therefore, the issue of the Iranian

A message from a school headmaster

occupation should be submitted to the International Court of Justice to look into this important issue. Justice must be implemented and the occupied islands should be returned to their lawful owner.

Ahmadinejad knows for well that whether he visited the islands officially or otherwise, will never change facts here. The islands whether the Iranian president and regime like it or not will remain Emirati and the property of this country. This is not the personal opinion of some people but legal texts and historical facts show and demonstrate the territorial belonging of Greater Tunab, Minor Tunab and Abu Musa.

Perhaps the Iranian visit to the island of Abu Musa is part of some Iranian propagation not only to defy the United Arab Emirates and its sovereignty but also to send messages across. But also the visit is to appease the Iranian people who support such occupation and the gesture which is only a publicity stunt to demonstrate the power and defiance of the Iranian authority. There is another dimension to the visit and that is Nejad is seeking to establish a firm position within the political elite as some are trying to pull the carpet underneath him on grounds that he is incompetent and not tough enough as they hope for him to be. Some have denounced him as having become too moderate and adopting a softer approach at a time when he should show determination and resolution.

Only time will tell whether Ahmadinejad will remain in power as surely that his visit would not be enough in the eyes of many.

Did you know, I am in trouble because of you, Mr. Technology!

The cadre chaos which occurred within the last three years in addition to some salary raises that were endorsed to please certain sides led to several social and cultural problems amongst citizens especially youths.

Dr. Esam Abdulatif Al-Fulaij

T

he school headmaster Mr. Faraj had sent a message to the new teachers at the beginning of the school years saying: Dear new teachers read the following realistic and sad story. There are two students one of them is untamed and failing therefore he could not even complete his high school but the second student is serious and abides to laws and regulations therefore he completed his high school successfully then and joined university and graduated as well.

The first student had gotten a job opportunity when he was below 20 years and then he helped his family to face the burden of life while the second student got a job opportunity after completing his university study. The student waited for his turn at the Civil Service Commission for a long period to get the job. He had the job when he was 23 and his family paid huge expenses to help him to complete his university studies.

The first joined the Kuwaiti army in which the salary of military individuals who hold an intermediate school certificate is KD 930. The second student joined the ministry of education as a teacher who received a bachelor degree, and whose salary is KD 830 per-month. If teachers begin to know the salary difference they might change their minds and stop studying in order to join the army and avoid studying for years.

However, the military individual who joined at the age of 18 will get a monthly salary worth KD 1600 when he is 23 years old! A teacher says if I knew that then I would join the army and avoid studying thoroughly for years.

The person who sent this message is a teacher and his former student who joined the army gets a much better salary than his!

A friend of mine sent me another story by email about the salary raises that are usually paid to the military individuals every now and then as well as bonuses and other advantages that civil servants at the different government institutions don`t get! If we assess the duty and efforts of military individuals then we will discover that their duty is similar to the other jobs at the public sector. The cadre chaos which occurred within the last three years in addition to some salary raises that were endorsed to please certain sides led to several social and cultural problems amongst citizens especially youths. The very step lead some youths to change their minds about loyalty wherein their loyalty was turned from loyalty to the country into loyalty for money! Anyway, I suggest charging the Civil Service Commission (CSC) to submit new studies and suggestions about the salaries of the civil servants at the different government institutions. CSC can also coordinate with the labor unions in this concern and both sides have to take into consideration the difference between the various jobs beside encouraging citizens to study the fields that the country needs for Kuwaiti citizens to hold.

I have another suggestion about the administration of CSC in which the position of the chief of CSC ought to be held by the secretary general of the cabinet because the minister of foreign affairs is usually busy. If the secretary general is appointed as a chief of CSC then he will not be subject to the pressures of MPs because he holds a neutral position.

The preacher of the cemetery Ahmad Mohammad Al-Fahad

I

usually disagree with the MP Abdulhameed Dashti about almost everything, but I admired his preaching ceremony at cemetery wherein his ceremony reflects his successfollowing a long failure- of reaching the green seat of the parliament. The MP had run in four parliamentary elections but he failed to reach the parliament but he discovered later on the secret of success then he focused on the issues that support his electoral campaign and he could win while running in the parliamentary election for the fifth time.

After that the guy became an MP but he showed great patience until he achieved his goal.

The MP also knew how to discuss the sensitive issues and the social occasions either if occasions are happy ones or sad. I will focus on the second point of exploiting events to gain certain interests such as electoral ones wherein the MP joined the crowds that headed to cemetery to bury the famous athlete and footballer Samir Said- May God embrace him with His mercy.

The crowds were very sorry for the sad demise of the

Because of envy, the relevant authorities did not approve establishing factories for recycling used tires and benefit by recycling the components of tires such the steel belt.

late footballer and they were also busy in the rituals of burying him at Sulaibikhat cemetery.

The MP exploited the scene and started talking about sectarian and poetical issues before the sad crowded people as such issues will support him to maintain his chair at the parliament! We will not focus on whether he told the truth or not because there is much important thing than that in which the funeral scene requires different speeches not sectarian and political statements. Is it reasonable to discuss such issues at cemetery while people are burying a person that people love? The MP succeeded to exploit the sad scene, bravo MR. Dashti for such great performance.

Because of envy, the relevant authorities did not approve establishing factories for recycling used tires and benefit by recycling the components of tires such the steel belt. As a result of not recycling, tires were accumulated in the Kuwaiti desert and then a huge fire broke out in the site of tires and authorities did not take any effective action despite that Al-Watan newspaper had warned against an imminent disaster.

We thank the headmaster of Homoud Barghash School in Surra area who exerted serious efforts during the celebration of honoring the outstanding students. We also thank him for his great interest in students and the teaching staff.

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views

friDAY, april 20, 2012

Iran’s last chance?

Javier Solana Project Syndicate

T

he latest round of negotiations on Iran’s nuclear program between Iran and the so-called “5+1” group (the United Nations Security Council’s five permanent members - the United States, the United Kingdom, Russia, France, and China - plus Germany) has now begun. Following more than a year of deadlock, after negotiations in January 2011 led nowhere, this dialogue is for many the last chance to find a peaceful solution to a nearly decade-long conflict (in which I participated closely from 2006 to 2009 as the West’s main negotiator with Iran).

The objective of the talks, chaired by the European Union’s foreign-policy chief, Catherine Ashton, and Iran’s chief negotiator, Saeed Jalili, is still to persuade Iran to halt uranium enrichment and to comply with Security Council resolutions and its obligations under the Nuclear Non-Proliferation Treaty. But several factors heighten the current negotiations’ strategic importance.

First, domestic economic and political conditions in Iran have changed markedly since the last round of talks. International pressure has mounted since the International Atomic Energy Agency confirmed last November that the country’s nuclear program was advancing towards the production of nuclear arms, rather than electricity or medical isotopes, with new sanctions imposed on Iranian oil exports and on transactions with the Central Bank of Iran.

Although rising global energy prices have given Iran some respite in recent months, the sanctions have made themselves felt more than ever among Iranian consumers. The rial has lost 40 percent of its value since October making imports less affordable, and financial transactions have become much more expensive and difficult for the government, businesses, and households alike.

Moreover, Iran’s leadership is fragmented and weak. Relations between President Mahmoud Ahmadinejad and Supreme Leader Ayatollah Ali Khamenei continue to deteriorate, while tensions are growing within the Revolutionary Guard. It remains to be seen what impact these political developments will have on the negotiations.

Iran’s Chief Nuclear Negotiator Saeed Jalili speaks to the media after day-long talks with six world powers in Istanbul, Turkey, April 14, 2012. (AP)

If we want to ensure that Iran never has a nuclear weapon, the only guarantee is to change its desire to possess one.

Second, Iran’s regional standing has been shaken by the wave of Arab revolts, especially in Syria - a decisive country, given its strategic relations with both Iran and Russia. Indeed, Syria is Iran’s main ally in the Middle East, as well as being the only country outside of the former Soviet Union in which Russia has a military base. Russia’s need to reconcile its role in these negotiations with its interests in Syria

makes an already-complicated dialogue more difficult.

The strategy with respect to the Gulf’s Sunni monarchies has also changed. Today, these countries are more at odds with both Iran and Syria than they have been for decades. Led by Qatar and Saudi Arabia, they have openly admitted the possibility of arming Syrian rebels in order to overthrow President Bashar al-Assad.

Bruno Iksil and the CHIPS trade Felix Salmon Reuters

J

ohn Carney has been plugging away at what on earth Bruno Iskil, the so-called London Whale, might be doing with his reported 100 billion US dollars bet on an obscure off-the-run CDX index. Carney’s idea is that this is all part of some kind of inflation-protection trade, but as Ben Walsh says, if you want to protect against inflation, you just buy TIPS. Corporate credit default swaps aren’t going to help you out much on that front.

But thinking about it a bit more, Carney’s CHIPS theory or Corporate Hedging InflationProtected Securities makes a certain amount of sense. Let’s say that Iksil, with his 360 billion US dollars portfolio, wants to make money in the fixed-income markets even as he sees inflation appearing over the next five years. It’s never easy for bond investors to make money in the face of inflation, since they’re receiving a fixed income, and that fixed income is effectively being eroded by inflation.

And with rates as low as they are today, investors aren’t being paid for the inflation risk they’re taking.

Most normal investors are faced with a choice: they can either get insanely low yields on TIPS, and protect themselves from inflation, or else they can get slightly higher yields on corporate bonds, but leave themselves open to having their money eroded by inflation.

Iksil, however, might have found a way of managing to have his cake and eat it. He buys TIPS - say the 10-year series issued in January 2007, which matures in January 2017. Because those TIPS are now off the run, he gets a slightly higher yield on them.

At the same time, Iksil wants exposure to investment-grade corporate credit risk. If you or I had put our money in TIPS, we couldn’t do that, because, well, our money would be tied up in TIPS. But Iksil works for JP Morgan, so he can get credit risk without having to tie up any money at all. All he needs to do is sell protection on a CDX index which matures at roughly the same time in this case, Series 9 of the Markit CDX North America Investment Grade Index, which matures in September 2017.

Now the great thing about selling protection, rather than buying bonds, is that it costs you nothing up-front. Quite the opposite, in fact: you get paid for doing it. Iksil is cashing insurance premiums on a basket of corporate debt every six months, and he can add that cashflow to the much more modest cashflow he’s getting on his TIPS. And because he’s JP Morgan, even if the market moves against him, he’s unlikely to have to put up much if any margin.

Put the TIPS and the CDX trade together into a package, and you get what Carney calls CHIPS, or what Pimco managing director Mihir Worah cals CIPS: Corporate Inflation-Linked Securities.

(Yeah, I know, that looks more like CILS to me.)

What happens now if inflation picks up before 2017? For one thing, Iksil will make money on his TIPS, which go up in value when inflation rises.

But Iksil will also make money on his CDX trade.

The yield on a corporate bond is basically made up of two elements, called credit and rates.

The rates part is the bit which goes up when inflation appears. But when you’re selling credit protection, you’re stripping out the rates part, and you’re exposing yourself only to the credit part of

It’s never easy for bond investors to make money in the face of inflation, since they’re receiving a fixed income, and that fixed income is effectively being eroded by inflation. the equation.

And when inflation appears, corporate credit risk actually goes down, not up. Inflation is bad for lenders; it’s good for borrowers. And it means, generally speaking, that companies are raising their prices and bringing in more money, in nominal terms. Which means they have a higher income with which to pay off their fixed debts.

Which means that they’re more likely to be able to pay those debts off in full.

Indeed, if you look at the rate sensitivity of the index that Iksil is buying, his mark-to-market P&L goes up when rates go up. For every basis point that rates rise, Iksil makes a profit, if he has 100 billion US dollars of exposure, of roughly 650,000 US dollars.

If yields go up by one percentage point, Iksil has made himself 65 million US dollars, just on the CDX part of the trade. Which is quite an achievement for a fixed-income investor in a rising-rates environment. Add in the profit on his TIPS, and he’s making even more.

It’s a big and risky trade - but it’s not one which he’s ever necessarily going to have to unwind. It has a maturity of about five years, and JP Morgan is more than big enough to hold a five-year trade to maturity.

But is that really what he’s doing?

There’s one very good reason to believe it’s much more complicated than I’ve laid out: if you look at those TIPS maturing in 2017, there were only nine billion US dollars of them issued in total. And more generally, what Iksil is doing here is basically replicating the kind of corporate credit exposure that JP Morgan has lots of already. This isn’t in any way a hedge of JP Morgan’s existing portfolio; it’s more of a doubling-down on it.

Still, looked at one way, Iksil’s job is to take the assets that JP Morgan hasn’t been able to loan out, and get the kind of return on those assets that JP Morgan would be seeing if it had been able to loan them out.

So maybe it makes sense that he’s making a big bet on corporate credit. I just wonder where on earth he could possibly find 100 billion US dollars of inflation protection.

Felix Salmon is the finance blogger at Reuters.

The opinions expressed are his own.

Moreover, Saudi Arabia’s oil reserves enable it to give crucial support to oil-export sanctions on Iran by offsetting the loss of global supply.

China, with its growing energy dependency on the Gulf states, will have to weigh that factor carefully at the negotiating table.Along with Russia, China has backed Syria in the Security Council, and it was recently revealed that Iran helped Syria to defy international sanctions by

7

providing a ship to transport oil from Syria to a state-owned company in China.

Third, Israel, already unhappy with the outcome of the previous round of negotiations, is becoming increasingly uneasy. With Iran’s nuclear program advancing and political uncertainty looming over the region, Israel supports a military operation against Iran in 2012, before, in the words of Israeli Defense Minister Ehud Barak, it crosses the “immunity zone,” beyond which intervention would be futile.

Israeli Prime Minister Benjamin Netanyahu, speaking last month to the membership of AIPAC, the largest pro-Israel lobby in the US, emphasized the urgency of the situation.

But the negotiations will be long, with many ups and downs, and, to add another layer of complexity, are taking place during an election year in the US, with the opposition Republican Party more closely aligned with Netanyahu’s position.

Finally, US President Barack Obama knows that his reelection depends on avoiding mistakes in this matter. But how can a lengthy negotiation be carried out without seeming to benefit the party, which wants to gain more time? Political optics - that is, the management of public perceptions - will be a very important part of this negotiation.

For now, America is keeping a channel open for direct dialogue with Iran (as US Secretary of Defense Leon Panetta warned Barak months ago). On the first day of the talks in Istanbul, Jalili accepted a US request for a bilateral meeting within the context of the negotiations, and all participants deemed the results so far to be a step in the right direction.

If we want to ensure that Iran never has a nuclear weapon, the only guarantee is to change its desire to possess one. And the best way to do that is still by negotiating, rather than by using force. No one has calculated the consequences of a war. Everyone has good reason to sit down and talk.

Javier Solana, the European Union’s former High Representative for Foreign and Security Policy and a former Secretary General of NATO, is President of the ESADE Global Economic and Geopolitical Center and Distinguished Senior Fellow at the Brookings Institution.

All your Tumblr are belong to Them

File- A photo illustration shows the applications Facebook and Instagram on the screen of an iPhone in Zagreb April 9, 2012. (Reuters) Paul Smalera Reuters

F

orget Instagram’s billion-dollar payday. Forget IPOs, past and future, from Facebook, Groupon, LinkedIn and the like. And ignore, please, the online ramblings of attention-hungry venture capitalists and narcissistic Silicon Valley journalists with the offputting habit of making their inside-baseball sound like the World Series. Their stories, to paraphrase Shakespeare, are tales told by idiots, full of sound and fury, but signifying very little about the impact of technology on most of our lives. Sure, some of their tales are about great fortunes, but those are only for a select few; to summon the Oracle of Omaha rather than the Bard of Avon, only a fool ever equated price with value. Their one-in-a-million windfalls are just flashes in the pan. Or, actually, they are solitary data points, meaningless when devoid of context.

That context is here. It’s come, in part, because of the cunningly simple social and curatorial tools that media companies like Twitter, Tumblr, Facebook and Pinterest give away to their users. But making sense of our social world is only possible with the the tools and technology behind what we call Big Data. The massive information collections spawned by our digital world are too big to address directly, so smart scientists have used fast computers to carve the data into real knowledge. This is how Big Data is already changing the way the world works.

But Big Data is young; though there are hundreds of accessible data sets already, there are still many more chaotic stores of information its tools can tame. Take, for example, social media: Yesterday, social media API company Gnip announced that it is providing customers with all of Tumblr’s data, what in techspeak is called the firehose. What Gnip and competitors like DataSift are providing to customers are Social Big Data firehoses that can be perfectly filtered into gently babbling brooks lined with digital gold nuggets.When the tech media wonder out loud how social companies will ever make a buck - sifting the gold out of their user-generated content is a huge piece of the puzzle.

At Gnip, Tumblr joins Twitter, WordPress, Disqus and the Chinese microblogging service Sina Weibo as the latest tree in a forest of Social Big Data accessible via API. A well-written API can transform a jumble of numbers into a perfectly organized multiplication table - on the order of millions or even billions of complex data pieces.

See this recent Economist visualization of the data record of a single tweet for more context.

The data pieces are valuable, but not solely because they help advertisers sell more widgets: In an email, Gnip Chief Operating Officer Chris Moody explained one of the coolest uses of data his company has enabled may have actually helped firefighters do their job better: “During the 4 Mile Canyon Fire in Boulder in 2010, [Gnip customer] VisionLink was able to provide fire crews and managers a real time

view into what was happening on the ground by layering geo-tagged Tweets and Flickr images onto a Google map of the area.”

It’s not just maps, photos and geo locations that number crunchers crave. Tumblr, after all, is a blog network full of cat photos, animated GIFs and other tomfoolery. Yet last year its already booming traffic grew an additional 300 percent. As the Web comic XKCD noted a day before Gnip’s announcement, the proper noun “Tumblr” is perhaps six months away from surpassing “blogging” in online searches, much the way “Google” became synonymous with the verb “search” a decade earlier. Tumblr users know that the site’s tools are heavily oriented toward sharing and signaling, as opposed to pure content creation. On Tumblr, users can of course write posts and upload photos, but they can also follow other users, “heart” each others’ posts and reblog posts they want to share with their own followers - and each action takes little more than one click. All these actions are trackable, all of them indicate some sort of sentiment or preference and all of them are discrete chunks of data in Tumblr’s massive data store - now joining the 90 billion pieces of social data Gnip is already delivering on a monthly basis.

If all of this sounds like a grand plot to aggregate, sift and derive insight into social behavior from all sorts of data that unsuspecting users unwittingly upload - well, it is. But those are the trade-offs that users agree to when they sign up with social-media websites, right when they check that box agreeing to the terms of service.

And it’s not just marketers and advertisers who pore over the data - the Guardian bought a slice of real-time social media from DataSift to help inform its coverage of the 2011 London riots. Joining journalists who want to understand social media with the help of big data are governments, NGOs, charities and non-profits, among all sorts of other organizations.

For the first time ever, all these groups can access the data that can help them answer questions they’ve been asking for decades. In industry, science and government, many data pools have been available for several years now.

In a way, social media, despite being cutting-edge, was behind the curve. It had to grow up a little more, out of niche status, before its data set was big enough to provide meaningful insight into the way we live online. It looks as if that day is just about here. Interestingly, Facebook, oft-criticized for privacy lapses, remains a mostly dark data pool; the company will slice and dice user data for advertisers and app makers but keeps its fire-hose closely guarded.

So, yes, to adapt an old Internet meme, All your Tumblr and much of your other social history are belong to Big Data. But that’s not necessarily bad, if all the power of social media belongs to all of us. Whether that’s a worthwhile trade-off all depends on how we use that power, and what we finally do with all that data.

Paul Smalera is Deputy Opinion Editor of Reuters. The opinions expressed are his own.

8

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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

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22447602 22545188 24726033 22611645 25750777 25524821 25723500 25610660 24848913 25336482

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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

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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

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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

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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

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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

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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

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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

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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

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TWO STAR International Hotel Kuwait Residence Hotel

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Exxon dropped from Iraq rights bidders, says oil ministry LONDON: US energy giant Exxon Mobil Corporation is not on the finalized list of 47 pre-qualified bidders for the next round of Iraq energy exploration rights, a statement posted on the oil ministry website showed on Thursday.

The world’s largest publicly traded energy company was still on the list in early February but has since been removed, while Syrian General Oil has been added as a prequalified bidder.

BUSINESS

fridAY, april 20, 2012

m ar ket watc h KUWAIT

DUBAI

QATAR

OMAN

ABU DHABI

0.05% 6265

0.3% 1638

0.9% 8639

0.1% 6004

0.5% 2500

OIL MARKETS BAHRAIN

EGYPT

SAUDI

0.5% 1159

0.7% 4705

MKT. CLOSED

US Crude $102.50 $0.17 London Brent $118.81 $0.75 Kuwait Crude $114.84 $0.13 Information Courtesy: KAMCO

CURRENCIES US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2783 Sell 0.2784 Buy 0.3643 Sell 0.3646

Buy 0.4458 Sell 0.4461

Buy 0.003405 Sell 0.003408

Kuwaiti oil price down to $114.84 per barrel

A scrap dealer walks past a vacant building in downtown Madrid, April 19, 2012. France and Spain sold all the bonds they wanted at auction on Thursday, though for Spain the cost was rising yields, indicating growing concerns the government will not be able to tame its deficit. (Reuters)

more than a dollar in the previous session. The May contract expires on Friday. Some investors saw recent sharp

Kuwait’s trade surplus with Japan widens 84.7% TOKYO: Kuwait’s trade surplus with Japan sharply widened 84.7 percent in March to 107.7 billion Japanese yen (1.3 billion US dollars) from a year earlier, remaining in the black for the 50th month in a row, the Finance Ministry said Thursday.

Kuwaiti overall exports to Japan surged 86.9 percent to 124.7 billion yen ($1.5 billion) for the 11st straight month of gain, and imports from Japan also expanded 101.7 percent year-on-year to 17.0 billion yen ($209 million) for the sixth consecutive month of growth, the ministry said in a preliminary report.

The Middle East’s trade surplus with Japan also widened 18.0 percent to 1.037 trillion yen ($12.7 billion) in March, with Japan-bound exports from the region growing 20.9 percent from a year earlier to 1.278 trillion yen ($15.7 billion). Crude oil and petroleum products, which accounted for 98.3 percent of the region’s total exports to Japan, rose 20.7 percent on the year. Among resources, liquefied natural gas (LNG) shipments from the Middle East posted a 126.0 percent gain. Imports from Japan also rose 35.2 percent to 241.2 billion yen (three billion dollars), as shipments of manufactured goods including steel, electronic components and automobiles, which accounted for 78.7 percent of the region’s total imports from the country, saw the ro-

bust growth.

The world’s third-biggest economy posted a global deficit of 82.6 billion yen ($1.0 billion) in March, falling into the red for the first time in two months, as surging imports of crude oil and LNG offset strong shipments of cars and auto parts to the US, the ministry said. Exports totaled 6.204 trillion yen ($76.1 billion), up 5.9 percent, marking the first rise in six months, while imports grew 10.5 percent to 6.287 trillion yen ($77.1 billion) for the 27th straight month.

Imports of crude oil jumped 22.8 percent and LNG 58.7 percent, respectively.

Resource-poor Japan is buying more fossil fuels for thermal power generation as only one of the nation’s 54 commercial reactors in service in the wake of the radiation accident at the Fukushima Daiichi nuclear power plant, which was triggered by the massive earthquake and tsunami in March last year. The trade data are measured on a customs-cleared basis before adjustment for seasonal factors.

Japan also marked a record trade deficit in fiscal 2011 through March, as exports slowed due to the quake-tsunami disasters, the eurozone debt crisis, the yen’s appreciation and devastating floods in Thailand.

The deficit was the largest since fiscal 1979 when the government began compiling data. -KUNA

Egypt’s bourse suspends trading in Mobinil and OTMT

CAIRO: Egypt’s stock exchange has suspended trading in mobile operator Mobinil and Orascom Telecom Media and Technology (OTMT) on the request of the country’s regulator, the exchange said on Thursday without providing further details.

The regulator is weighing up whether to approve France Telecom’s plan to purchase most of OTMT’s stake in Mobinil for 1.5 billion euros (two billion US dollars) and there have been media reports saying it was poised to reject the deal, or was delaying it until the French firm responded to a request for information.

Under the terms of the plan, France Telecom will buy most of the Mobinil stake held by OTMT, holding company of entrepreneur Naguib Sawiris.

The chairman of financial market regulator EFSA, Ashraf El-Sharqawy, had said the watchdog would give its response this week.

In a brief telephone interview with Reuters, Sharqawy denied media reports that the regulator had made remarks either rejecting the offer or delaying a decision for 48 hours pending France Telecom’s response.

“EFSA has not and will not comment on the offer. When there is a decision, it will be announced to everyone at the same time,” he added, without giving details of when the decision would be made.

France Telecom is already the biggest shareholder in Mobinil and Egypt is a key part of its efforts to expand in high-growth emerging markets such as Africa and the Middle East.

The deal, which was subject to a preliminary agreement struck in February, recasts the terms of its relationship with Sawiris, who had a put option to sell out completely to France Telecom starting in September 2012.

France Telecom would end up owning 95 percent of Egypt’s largest mobile operator if all the minority shareholders accept, while Sawiris would keep five percent.

The Egyptian side will retain six of 13 seats on the board and the same voting rights as before. The new accord will also put into place a new system of call and put options through 2017 to set the terms under which Sawiris’ OTMT can exit in the coming years. -Reuters

Buy 0.0742 Sell 0.0743

Buy 0.07577 Sell 0.07583

Buy 0.07650 Sell 0.07642 Buy 0.7381 Sell 0.73882

Buy 0.00535 Sell 0.005345

Buy 0.006532 Sell 0.00652

Prices in Kuwaiti fils as of April 19, 2012 Courtesy: KAMCO

Brent oil rises on risk outlook, Spain auction

CAPITALS: Price of Kuwaiti crude oil slipped down by 0.13 US dollars to $114.84 per barrel (pb) on Wednesday, compared to $114.97 pb on Tuesday, Kuwait Petroleum Corporation (KPC) said on Thursday.

Global oil price went down yesterday after a report from the US Energy Information Administration (EIA) said that US crude oil price supplies increased by 3.9 million barrels last week, exceeding expectations and resulting in a negative effect on the global price for oil.

Geopolitical factors, the Iranian nuclear file, and the worsening of the euro debt crisis led to instability in the global market, affecting the price of crude oil.

In more news, Brent crude oil gained on Thursday, bouncing from a two-month low set the previous session, as a Spanish bond auction attracted strong investor demand, alleviating some concerns about the health of the euro zone economy.

Spain’s Treasury issued 2.5 billion euros ($3.3 billion) in two- and 10-year bonds on Thursday at the top end of the targeted amount, although yields ticked higher than at the previous January auction.

Brent June crude gained 93 cents to $118.90 a barrel at 1352 GMT after hitting $116.70 in the previous session, its lowest in more than two months.

US May crude fell six US cents to $102.61, after falling

See page 10

falls as a good buying opportunity.

“Maybe this has marked the bottom of the market for

oil,” said Christopher Bellew at Jefferies Bache.

“There are plenty of potential catalysts that could push up the oil price - the effect of Iranian oil sanctions, good economic data from the United States would see funds pushing back into oil.”

Revived fears about the euro zone’s shaky finances had contributed to a 3.2 percent fall in the price of Brent this month, raising once again the prospects of economic decline and falling energy demand.

The number of Americans claiming unemployment benefits for the first time fell only slightly last week, data showed on Thursday, dampening hopes of a pick-up in job creation in April after March’s slowdown.

Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 386,000, the Labor Department said.

The prior week’s data was revised to show 8,000 more applications received than previously reported.

Market observers said investors were worried about the potential for the oil market to make a sharp move in either direction.

Eyes are also on next week’s meeting of the policy-setting US Federal Open Market Committee (FOMC), which will be closely scrutinized for any hints of a third round of quantitative easing, which could have an impact on oil prices.

A slowly improving US jobs market and reasonably solid growth at the start of the year have brightened the economic outlook for 2012, reducing chances the Federal Reserve will conduct another round of bond purchases, a Reuters poll found. -Agencies

Nokia reveals big loss of $1.2 billion for Q1

CAPITALS: The world leader in the manufacture of mobile phones, Nokia of Finland, reported a quarterly net loss which was far worse than expected on Thursday and reshuffled its global team.

Nokia had issued a profit warning last week, but the net loss of 929 million euros (1.2 billion US dollars) in the first quarter of the year was far beyond the loss of 554 million euros broadly expected by analysts polled by Dow Jones Newswires.

Sales fell by 30 percent on a 12-month comparison to 7.354 billion euros, and this figure was in line with analysts’ expectations.

Shortly after the results were announced, the price of shares in Nokia was showing a gain

of 1.0 percent in an overall Helsinki market which had advanced by 1.2 percent.

“We are navigating through a significant company transition in an industry environment that continues to evolve and shift quickly, Nokia chief executive Stephen Elop said.

“Over the last year we have made progress on our new strategy, but we have faced greater than expected competitive challenges,” he said.

The Finnish company is undergoing a major restructuring, phasing out its Symbian line of smartphones in favour of a partnership with Microsoft that has produced a first line of Lumia smartphones.

Nokia is depending heavily on the new

Dubai’s Deyaar Q1 net profit drops 64% DUBAI: Struggling Dubai developer Deyaar posted a 64 percent drop in its first-quarter net profit and said it plans to deliver three long-pending projects by the end of this year. Deyaar made a net profit of 9.4 million UAE dirhams (2.56 million US dollars) during the first-quarter, compared with 26.3 million dirhams in the prior-year period. Dubai’s second-largest property developer by market value said its gross revenues reached 150 million dirhams in the quarter and its total assets were valued at 6.7 billion dirhams. Deyaar, badly hit by Dubai’s property bust, continues to reel under the impact of the global financial crisis. The company said the repercussions of this were seen on the first quarter as well.

“We look forward to delivering another three projects over the course of this year,” Saeed Al-Qatami, chief executive of Deyaar said in a statement.

The statement gave no details of the projects which the company was working on. Dubai’s property sector was hit hard by a global economic downturn, with billions of dollars worth of construction projects put on hold or cancelled, while property prices slumped as much as 60 percent from its peak in 2008. Shares of Deyaar ended 0.5 percent lower on the Dubai bourse before the earnings were announced. -Reuters

IMF welcomes $34 billion in new pledges CAPITALS: International Monetary Fund (IMF) director Christine Lagarde has welcomed pledges from Switzerland, Poland and other countries to provide some 34 billion US dollars in additional funding for the world lender. Lagarde, in separate statements late Wednesday, singled out Switzerland and Poland for increasing their contributions, hailing their “enduring support for the spirit of multilateralism.” “Ensuring the Fund has sufficient resources to tackle crises and to promote global economic stability is in the interests of all our members,” she said. The IMF statement said “Switzerland and other countries” had pledged $26 billion of increased funding while Poland had agreed to provide eight billion dollars.

“This brings to about $320 billion the commitments received so far. I am, (of) course, very encouraged by this strong demonstration of support for the Fund, and I look forward to further commitments from our broader membership.” That was sharply lower than the original target of $500 billion. Last week Lagarde said the Fund was lowering its target, citing a slight easing of financial tensions, both globally and in the eurozone. -AFP

phones to help maintain its ranking as the world’s biggest maker of mobile phones as it operates in a rapidly changing landscape with RiM’s Blackberry, Apple’s iPhone and handsets running Google’s Android platform take growing bites out of its market share.

Nokia posted an operating loss of 1.34 billion euros over the period, almost double the loss of 731 million euros expected by analysts and said smartphone sales fell by 42 percent in the quarter.

On Monday, the international ratings agency Moody’s downgraded its ratings for Nokia owing to poor prospects for future sales. The agency also maintained a ‘A’ negative outlook on senior debt owed by Nokia. -AFP

STC reports strong Q1 revenues, 60% net profit growth Results performance driven primarily by growth in Broadband services, enhanced operations

RIYADH: Saudi Telecom Group (STC) announced in a press release on Thursday the company’s preliminary consolidated financial results for the first quarter ending March 31, 2012. STC enjoyed a positive start to 2012 by continuing to deliver strong revenue and profitable growth. For the first quarter, the Company reported a 12 percent increase in consolidated revenues which reached 14,679 million Saudi riyals compared to 13,076 million riyals in Q1 2011. As a result to the overall enhancement in the operations efficiency, Operating profit for the first quarter increased 19 percent to reach 3,178 million riyals compared to 2,669 million riyals for the same period in 2011. Earnings before interest, Zakat and taxes, depreciation and amortization (EBITDA) for Q1 2012 increased 12 percent to 5,374 million riyals compared to 4,815 million riyals in Q1 2011.

STC reported a 60 percent increase in net profit from 1,573 million riyals in Q1 2011 to 2,521 million riyals in Q1 2012, representing eight percent growth over the previous quarter (as per the audited Financial statements).

The increase in net income for the Q1 of 2012 compared to the same period last year is attributed to the 12 percent increase in operating revenue which came as a result to the growth in all of the group services revenue, PSTN, ALJAWAL (mobile), Business sector and Wholesales. In addition, the overall improvement in operations efficiency have contributed to this increase.

The Company also witnessed strong demand for fixed and wireless broadband services during the period, STC’s position as the region’s broadband provider of choice is one of the key reasons for the company’s continued strength in the domestic market, acquiring additional market share during the quarter and continues to maintain the largest share in the local market, as well as the STC’s successful expansion and acquiring additional market share overseas in the Middle East, Turkey, South East Asia, India and South

Africa. The continued strong company performance and commitment to delivering shareholder value has lead the Board of Directors to approve the distribution of a total of 1,000 million riyals in cash dividend for Q1 2012, representing 0.5 riyals per share.

Commenting on the results, STC Group CEO, Engineer Saud Al-Daweesh, said, “I am pleased to be able to announce such strong results. We have continued to further strengthen our position as one of the largest and most technologically advanced telecom operators both in our domestic market as well as in international markets. This success materialized as a result of our continued efforts to offer innovative and integrated products and services that address the needs of our customers, as well as our continued efforts to improve and sustain our operational and financial performance. STC group has succeeded in remaining at the forefront of the telecommunications and information technology sectors in the Middle East and beyond, by optimizing operations and leveraging our expertise and our strength in providing our customers with the latest technologies & services with key focus on customer experience. This has supported our growth both domestically and internationally. This quarter’s performance also validates our continued efforts to drive financial performance, and to remain agile, providing shareholders with above average returns, by streamlining controls and embedding strategies that ensure long term profitable growth.

We have a clear and strong growth strategy in place and we remain committed to consistent delivery and performance. We see significant growth potential both domestically and internationally, and we believe that our strong market position and expanding presence in the Kingdom of Saudi Arabia and key growth markets ensures that we are well placed to leverage growth opportunities both in the domestic and international markets. As a result, we are confident that we can deliver significant value to our shareholders in the future.”

10

ALWATAN DAILY

BUSINESS

friDAY, april 20, 2012

Exxon dropped from Iraq rights bidders, says oil ministry LONDON: US energy giant Exxon Mobil Corporation is not on the finalized list of 47 prequalified bidders for the next round of Iraq energy exploration rights, a statement posted on the oil ministry website showed on Thursday.

The world’s largest publicly traded energy company was still on the list in early February but has since been removed, while Syrian General Oil has been added as a pre-qualified bidder.

“The Final Tender Protocol and the definitive model Contract have been issued to all prequalified companies,” Abdul Mahdy Al-Ameedi, director general of the Petroleum Contracts and Licensing Directorate (PCLD), said in a statement.

“We are looking forward to welcoming all participating companies in Baghdad.”

Exxon has angered Baghdad by signing an exploration deal with the Kurdistan Regional Government (KRG), which the central government considers illegal.

Last year Iraq’s Oil Ministry excluded USbased Hess Corp from competing in the auction after it signed deals with the KRG Iraq’s oil and gas fields have suffered from decades of neglect because of war and economic sanctions.

The bidding for 12 new exploration blocs, which has been repeatedly delayed but is now due to be held May 30-31, is expected to add 29 trillion cubic feet of gas and 10 billion barrels of oil to Iraqi reserves.

Iraq improved the terms of the blocks in February after complaints by several prospective bidders that the deals were unattractive.

The upcoming auction will focus mainly on gas exploration rights, and the blocks are mostly in remote parts of western and central Iraq, making

FILE - Gasoline (regular grade) prices hover at one-tenth of a cent under the $5.00 mark at an Exxon station in Washington March 2, 2012. US energy giant Exxon Mobil Corporation is not on the finalized list of 47 pre-qualified bidders for the next round of Iraq energy exploration rights, a statement posted on the oil ministry website showed on Thursday, April 19, 2012. (Reuters)

them riskier investments since the sites are harder to protect against insurgent attacks.

Companies will be able to extract gas discovered in the blocks immediately, but the Iraqi government has retained the option to prevent companies from extracting oil in exchange for paying

them compensation.

Exxon, which has a large and growing portfolio of conventional and unconventional gas assets around the world, many in far less challenging environments than Iraq, was unavailable for immediate comment. -Reuters

Industries Qatar Q1 net dips on petchem sales

DOHA: Petrochemicals and metals company Industries Qatar (IQ) posted a 9.5-percent dip in first-quarter net profit on Thursday on declining petrochemical revenue but beat analysts’ expectations thanks to strong fertilizer and steel sales. The Gulf’s second-largest chemical producer by market value behind Saudi Basic Industries (SABIC) made a net profit of 1.9 billion Qatari riyals (521.8 million US dollars), a company statement said, compared with 2.1 billion riyals a year earlier.

Analysts polled by Reuters on average expected the company to post quarterly profit of 1.8 billion riyals. The company posted first-quarter revenue of 4.4 billion riyals, compared to 4 billion riyals a year ago, the statement said.

Petrochemical revenue fell eight percent during the quarter compared to the same period last year, the statement said. First-quarter steel revenue was 1.7 billion riyals, a 22.1 percent increase over the same period last year.

Steel was the group’s largest revenue contributor, accounting for almost 40 percent of total sales. The steel segment saw its second highest quarterly revenue since the company’s founding in 2003, the statement said.

It said the steel segment was expected to “significantly benefit from the progressive and wide-ranging infrastructure plans of the State of Qatar”.

Qatar has embarked on a massive domestic building program in preparation to host the 2022 World Cup soccer tournament, with plans to spend $11 billion on a new international airport, $5.5 billion on a deepwater seaport and $1 billion for a transport corridor in the capital, Doha.

In February IQ inaugurated Qafco 5, a one million ton urea facility. Sales from the plant amounted to approximately 80 million riyals, the statement said.

The company sold 44,000 metric tons of urea during the quarter, with Qafco 5 operating at 86 percent capacity, the statement said. The plant is expected to ramp up to full capacity in the second quarter.

Petrochemical prices have returned to near pre-crisis levels, but worries persist over how a potential double-dip global recession may impact petrochemicals companies’ earnings in the world’s top oil exporting region.

In December IQ said it had sold its stake in a local real estate firm for $44 million, as the property sector faced low demand and growing supply.

IQ had held a 34-percent stake in Fereej Real Estate Company, which was set up in 2008 in a joint venture with a Gulf International Services unit and Qatar Real Estate Company (Alaqaria). The latter had 33-percent stakes each.

IQ shares closed up 0.85 percent on Thursday before the results were announced. -Reuters

Dubai defers $1.3 billion power project indefinitely ADNOC to build ABU DHABI: Dubai Electricity and Water Authority (DEWA) said it has deferred plans to build the 1.3 billion US dollar Hassyan independent power and water project, citing increased efficiency at existing power plants.

“The Hassyan power plant project can be deferred until a later date,” the state company said, adding that it had raised power production capacity elsewhere while demand growth had slowed.

Demand for cooling and fresh water have driven rapidly rising use of electricity in Dubai. But the government has been forced to reassess many of its projects following its standstill debt announcement in 2009.

Located 60 km south-west of Dubai in the United Arab Emirates (UAE), the Hassyan power and water complex was expected to have a total production capacity of 900 megawatts of power and 720 million gallons per day of desalinated water.

The government of Dubai owns DEWA, while the Dubai Supreme Council of Energy is responsible for ensuring energy supplies in the Emirate.

Abu Dhabi National Energy Company in December identified itself and its consortium partners Marubeni of Japan and South Korea’s SK E&S Co Ltd as the lowest bidders for the project.

“We are still waiting to hear the consequences of this decision from them,” said Taqa spokesman said on Thursday, without elaborating.

Some bidders said the decision may even damage the government’s future project plans. “It’s disappointing. In the future bidders may think twice,” said an executive from one of the international companies that had bid for the project.

The Hassyan project had attracted a lot of interest from banks and was the government’s first use of the public-private partnership (PPP) model to fund construction of a project.

Dubai has also launched plans to build a solar park with a potential capacity of 1,000 MW to help reduce its energy imports. The first solar plant in the park will have a capacity of 10 MW and is planned to commence operations by end-2013. -Reuters

EGPC delays naphtha shipments after fire at refinery

CAPITALS: Egypt’s Nasr Petroleum Company (EGPC) is in the midst of restarting its 146,300 barrels-per-day refinery in Suez after a fire last Saturday, an official source from the company said on Thursday.

“The refinery remains shut. We are in the process of preparing to restart it,” he said but declined to be named.

“We hope that we will be able to restart the refinery within the next 24 hours.” According to a second official, the fire started at a warehouse at the refinery, which is operated

by Egyptian General Petroleum Corporation’s (EGPC) subsidiary El Nasr Petroleum since 1913.

The accident has prompted EGPC to delay two naphtha shipments to be lifted in May and June from Suez port, two officials from EGPC said. These cargoes were originally scheduled for second-half April lifting from Suez.

A third April naphtha cargo that was due to be shipped out last weekend when the fire broke was slightly delayed.

Diesel and gasoline imports, however, will not be affected and the company does not yet have any additional spot requirements, the EGPC officials added.

It is due to issue a term tender to seek oil products for July-December next month, and could probably seek higher volumes, a trader said.

The delay in naphtha shipments is likely to have an impact on the Asian market, a North Asian trader said.

“Suez exports about 60,000 to 90,000 tons of naphtha to Asia, so there will be an impact if we lose those cargoes for April,” the trader said. “The loss of cargoes is coming when May supplies are tight due to limited European cargoes coming in next month.”

Traders added that the tightly supplied naphtha market is likely to ease only from June. The refinery has three crude distillation units (CDUs) as well as an accompanying asphalt production unit and power plant. -Reuters

Sharjah fuel supply terminal from June SHARJAH: Abu Dhabi National Oil Company (ADNOC) is to start building an oil products import terminal in Sharjah in June, industry sources said, to help meet demand for power and vehicle fuel in the poorer northern parts of the United Arab Emirates (UAE). Drivers in the northern emirates, many of whom have long suffered from mid-summer power cuts thanks to fuel shortages, have faced long queues to fill up at ADNOC’s gleaming gas stations since Dubai-based ENOC pulled out last June.

Ten months on, the cordoned off ENOC forcourts lining the streets of Sharjah are covered with a thick layer of dust.

But ADNOC, which can sell fuel below international prices thanks to its big upstream business in Abu Dhabi, is to build a fuel import terminal in the port of Hamriyah over the next two years to meet strong demand in northern parts of the country. “ADNOC is supplying the power stations in the northern emirates but currently they’re supplying via trucks from Jebel Ali,” a Hamriyah shipping industry

source said.

“Once they have their facility here it will be easier. Hamriyah port has easy access to all of the northern emirates. They will supply to power stations and pump stations.” ADNOC has been trucking fuel from the port to the southeast of Dubai to power plants in the poorer northern parts of the United Arab Emirates for years and a Gulf terminal offers a convenient bypass around busy Dubai.

ADNOC has appointed Abu Dhabi Oil Refining Company (Takreer) to build the terminal in Sharjah’s Hamriyah free zone that will include oil storage tanks and a jetty for oil products.

China’s Sinopec has been awarded one engineering procurement construction (EPC) contract for the project, which includes building a terminal with 12 storage tanks capable of holding 241,000 cubic meters of fuel in total.

A Takreer official said Sinopec was expected to start work within two months and that the project should be completed and handed over to owner ADNOC Dis-

tribution by end-2014. Dubai government-owned ENOC had been operating at a loss for years due low fixed retail prices in the UAE and the rising cost of gasoline it has to buy on the international market to meet domestic demand.

Fuel retailer ENOC in July denied reports of ADNOC taking over its petrol stations in the northern emirates.

ADNOC has been largely unaffected thanks to its hold over most of the UAE’s vast oil reserves. ADNOC operates nearly 194 petrol stations, including 135 in Abu Dhabi. The company is planning to set up 234 new petrol stations across the UAE by the end-2012, according to local media reports. Hamriyah is a small port with an oil storage capacity of just over 340,000 cubic meters which is mainly used by vessels loading and offloading lubricants, oil products and base oils.

Greece-based Archirodon Construction, which has undertaken many marine and jetty projects in the UAE, Qatar and Saudi Arabia, was awarded a second EPC contract to build a jetty. -Reuters

Saudi Aramco testing new Karan gas units KHOBAR, Saudi Arabia: State oil giant Saudi Aramco has started commissioning the first train of an expanded gas processing facility for Karan, its first nonassociated offshore gas field, three industry sources said this week. Gas from the offshore field, which should reduce Saudi oil consumption this summer, will be processed at the Khursaniyah plant through three new production lines, known as trains, each with a capacity of 600 million cubic feet per day (mcfd).

“They introduced gas to train one, it is already under commissioning,” an industry source said.

Construction work for the four parts of the project is almost complete, sources said. Work includes offshore platforms, a 47-km pipeline, a power plant, together with facilities for gas drying and sulfur removal.

Aramco is expected to gradually increase production in the next two to three months once the two other trains are

completed and commissioned, sources said. An Aramco spokesman could not comment on the project status.

Aramco aimed to produce 400 mcfd of gas to meet peak summer demand when Karan first started production last year. It plans to raise production to 1.5 billion cfd by June 2012, with full production of 1.8 bcfd seen in April 2013.

The ramp up of Karan should help Saudi Arabia burn less crude in its power plants this summer. -Reuters

Japan posts record deficit in year since disasters CAPITALS: Japan on Thursday posted a record trade deficit for fiscal 2011 as the quake-tsunami disaster and ensuing nuclear crisis sent car and electronics exports tumbling and energy imports soaring.

The country’s trade shortfall hit 4.410 trillion Japanese yen (54.2 billion US dollars) in the 12 months to March, the finance ministry said, amid continuing worries about the recovery in the world’s third-largest economy.

For decades, Japan enjoyed huge trade surpluses owing to its competitive cars, electronics and other exports.

But demand for fossil fuels has surged in the resource-poor nation after last year’s natural disasters sparked the worst nuclear accident in a generation, leading the government to take most atomic reactors offline.

At the same time demand from Europe suffered as the eurozone’s debt crisis rippled across the continent, one of Japan’s biggest export markets.

Over the year Japanese exports fell 3.7 percent to 65.282 trillion yen while imports soared 11.6 percent to 69.692 trillion yen, as worries mount that the country will face energy shortages this

summer.

All but one of its nuclear reactors were shuttered after the Fukushima reactor disaster.

Driving the decline, electronic component exports fell 14.7 percent, followed by a 5.4 percent drop in vehicle shipments, with manufacturers’ supply chains severely disrupted by the quake-tsunami as well as floods in Thailand, where several Japanese firms have plants.

In the same period, crude oil imports rose 21.9 percent while liquefied natural gas (LNG) orders shot up 52.2 percent as the country turned to thermal energy.

The latest figures represent Japan’s first fiscal-year deficit since a shortfall of nearly 765.0 billion yen in 2008 as the global financial crisis kicked in amid the collapse of Wall Street giant Lehman Brothers.

“At the time of the Lehman shock, foreign demand was just gone, dealing a blow to exports,” said Satoshi Osanai, economist at Daiwa Institute of Research.

“This time around, however, the deficit largely stemmed from higher import costs of natural resources,” he added.

Energy costs will likely continue to

take a toll on the trade picture, but “deficits are expected to shrink as exports recover gradually,” Osanai said.

Trade with China and other emerging economies was likely to pick up, while solid demand from the United States also providing support as the world’s biggest economy mounts a recovery, he said.

The European market, however, remained a concern with shipments down 3.6 percent in fiscal 2011 - reversing a 9.5 percent rise in the previous year - with exports of passenger cars, chemicals and steel products all falling.

“The European debt crisis has calmed down but their economy is still sluggish.

We should keep a cautious view toward Europe,” Osanai said.

The ministry also released Thursday showing a smaller-than-expected trade deficit of 82.6 billion yen in March.

But analysts expressed little optimism over that figure, which came after an unexpected surplus in February.

High prices for liquefied natural gas and rising imports in a country beset by a rapidly ageing population and shrinking manufacturing sector would likely generate trade deficits through this year, it added. -AFP

A cyclist passes before an international freighter at a Tokyo port on April 19, 2012. Japan posted a record trade deficit for the fiscal year with car and electronics exports tumbling from a year earlier, but it also recorded a smaller-than-expected shortfall in March. (AFP)

ALWATAN DAILY

BUSINESS

FRIDAY, APRIL 20, 2012

Qatar builds yield curve with T-bill issues DUBAI: Qatar’s decision to expand its issues of Treasury bills is succeeding in draining excess liquidity from the banking system, but it also appears to have another, long-term policy purpose: building a complete Qatari riyal yield curve.

That could have several benefits for the emirate, helping it fund big infrastructure projects as it prepares to host the 2022 soccer World Cup, increasing its attractiveness as a portfolio investment destination; and even giving the Qatar central bank (QCB) a more sophisticated monetary policy.

“The regular monthly issuance of T-bills since last May has been clearly undertaken to develop the shorter end of the yield curve, a benchmark that was previously non-existent,” said Saugata Sarkar, head of research at QNB Financial Services.

“Longer-term, the QCB is clearly aiming to establish a liquid local debt market, in preparation for the expected increase in lending for infrastructure projects over this decade in the run-up to the 2022 FIFA World Cup.” Traditionally, Qatar’s money market has concentrated on overnight and one-week interbank lending rates, where activity is greatest and quotes are easily available.The central bank’s description of its monetary policy says “the current QCB interest rates framework focuses on the average overnight interbank rate.”

The central bank’s regular T-bill issues, which began last May, could help to change that. The bank began by issuing three-month T-bills, and has gradually introduced six- and nine-month maturities.

In past years, the QCB has issued bonds on behalf of the finance ministry to local commercial banks with tenors of three to seven years, effectively setting benchmarks in that area, market sources said. Early last year, 50 billion Saudi riyals of government bonds were sold to local banks.

There is still a gap in the yield curve between one and three years, but market participants think the central bank may eventually fill that by widening its debt issues further.

Volumes of T-bill issuance have grown. Central bank governor Sheikh Abdullah bin Saud al-Thani said last October that the QCB was selling two billion riyals every month; this week he said monthly issuance was four billion riyals and that the QCB would continue that volume, declining to comment further on monetary policy.

Policy

Signs are that the issues are helping to prevent Qatar’s rapid economic growth, which hit 14 percent last year, from boosting inflationary pressure. M2 money supply growth slowed to a 29-month low of 8.5 percent year-on-year in February from 10.8 percent a month earlier, while March inflation was 1.2 percent, down from last year’s rate of 1.9 percent.

Bank lending growth to the private sector slowed to an eight-month low of 16.4 percent on an annual basis in February from 21.6 percent in January, although growth in real estate credit remains much higher, which some analysts think may be risky given ample supply in the property market.

Qatari banks held about 12.4 billion riyals worth of T-bills at the end of February, up from 12.0 billion in the previous month, the latest central bank data show.

In the longer term, creating a full riyal yield curve could help both the government and Qatari companies issue local-currency debt to fund infrastructure projects.

The country of 1.7 million people has outlined public investment plans worth $95 billion over the five years to 2016.

When it comes to international bond issuance, Qatar has possibly the best-developed sovereign yield curve in the region; in November it conducted the Gulf’s largest international bond issue last year, a bumper five billion US dollars, three-tranche deal with maturities from five to 30 years.

But raising more funds domestically would limit Qatar’s dependence on fickle global markets.

Meanwhile, a complete yield curve could make the emirate more attractive as an investment destination for funds which could benchmark their returns from the local stock market, which Qatar hopes will eventually be upgraded to emerging market status by index compiler Morgan Stanley Capital International (MSCI), against T-bill yields.

“Qatar is looking at an MSCI listing and one of the key factors would be to develop a market where investors can compare their dividends to risk-free Treasury yields,” said one regional banker. Ultimately, a complete yield curve could allow the central bank to conduct a more sophisticated monetary policy that focuses on longer-term market interest rates in addition to the overnight interbank rate. -Reuters

Trading Prices of Kuwait Exchange Trading Prices of Kuwait StockStock Exchange

Company

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High

Low

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

1,080 435 610 880 280 425 760 600

1,060 425 610 880 275 420 740 590

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

104 260 150 315 63 104 116 31.0 148 52 31 37.0 64 285 55 39.5 238.0 104.0 74.0 182 265 28.0 66 52 112

102 260 148 310 61 100 116 31.0 146 52 29 36.5 64 280 55 38.0 232.0 102.0 72.0 178 265 28.0 66 51 108

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-

Global Index - Banking

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Global Index - Investment

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

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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

56 118 134 232 37.0 95 1,020 75 16.5 69.0 91 62 67 79 84 19.5 45.5 64 70 45.0 40.5 21.5 37 59 340

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

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232 124 475 1,260 134 900

228 122 470 1,240 134 870

1060 430 790 600 880 280 425 760 600 320.33

Previous Close Change 179.56 -0.20 6,268.00 -3.40 Trading Activity Chng Volume Tran. Value(KD) 5 10 -10 0.02-

DTD -0.11% -0.05%

Last Bid

Last Ask

MTD YTD 0.02% -2.10% 1.62% 7.75% Div. Annual Close Yield High Low P/E

1,037,500 400,000 5,000 105,000 1,320,000 50,000 1,455,000 730,000 5,102,500

27 14 1 6 28 4 57 24 161

1,116,800 171,950 3,050 92,400 364,350 21,100 1,092,000 431,000 3,292,650

1,060 430 590 880 275 420 750 590

1,080 435 610 890 280 425 760 600

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 37.41 1240.61 18.34 33.01 26.79 12.99 27.11 130.71 19.49

260,000 50,000 1,360,000 280,000 4,360,000 2,000,000 60,000 1,040,000 3,680,000 2,600,000 12,080,000 240,000 480,000 150,000 40,000 9,520,000 3,900,000 2,580,000 7,760,000 120,000 100,000 1,120,000 40,000 480,000 2,980,000 57,280,000

13 4 25 17 48 35 2 9 30 28 118 3 2 11 1 67 73 64 119 6 1 1 1 10 67 755

26,880 13,000 201,640 87,000 268,320 204,480 6,960 32,240 538,280 135,200 359,720 8,800 30,720 42,250 2,200 369,920 915,800 263,960 564,840 21,600 26,500 31,360 2,640 24,800 327,760 4,506,870

102 255 148 310 61 100 116 31.0 146 51 30 35.5 64.0 280 38.0 232.0 100.0 72.0 182 255 29 72 65 52 50 110.0

104 260 150 315 62 230 104 118 102 148 52 30 37.0 65.0 290 60 38.5 234.0 102.0 73.0 184 265 30 80 67 54 51 112.0

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% 2.2% 0.0% 0.0% 0.0% 0.0% 0.0% 3.8% 4.2% 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

16.16 9.83 0.00

106 255 52 150 315 13.0 61 25.0 130 25.0 230 104 120 102 52 28.5 146 52 29 71 36.5 48.5 64 26.0 280 60 38.5 51 39.5 100 234.0 102.0 22.0 22.5 73.0 29.0 182.0 285 114 28.00 75 66 52 51 64 42.50 110 81.91

-4 2.5 1 5 -5 1.02.0Ex-D 0.08-

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 -

-

-

-

255 460 500 28.0

300 500 520 144 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

56 114 128 234 28.5 234 118 91 35.5 110 96 1,020 76 15.5 68.0 95 57 67 74 36.0 83 19.0 87 17.5 45.0 65 75 160 43.0 28.5 39.0 17.5 21.0 134 134 220 54 335 58.42

-1 2 4 -2 -

1,120,000 6,660,000 3,160,000 100,000 2,160,000 40,000 77,500 280,000 17,840,000 42,760,000 2,160,000 2,560,000 2,560,000 1,360,000 2,440,000 4,240,000 2,560,000 40,000 80,000 39,200,000 18,720,000 2,640,000 800,000 2,360,000 1,960,000 157,877,500

13 89 69 3 26 1 10 5 96 273 18 50 34 21 40 46 23 1 1 212 181 24 9 50 78 1,373

61,920 773,800 415,240 23,200 78,880 3,800 77,650 20,960 285,640 2,845,640 193,320 153,360 168,640 101,160 202,280 79,640 114,760 2,560 5,600 1,715,640 727,080 55,400 29,560 136,160 666,150 8,938,040

55 114 130 230 27.0 230 116 36.5 100 95 1,000 74 16.0 66.0 90 59 65 79 34.0 81 18.5 87 44.5 62 150 44.5 37.0 20.5 37 57 340

56 116 132 232 30.5 234 138 37.0 96 1,020 76 16.5 67.0 91 60 66 37.0 82 19.0 89 45.0 65 75 168 45.0 37.5 21.0 58 345

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55 116 132 232 28.5 234 118 91 36.5 110 95 1,000 75 16.0 67.0 91 59 66 79 36.0 82 18.5 87 17.5 44.5 64 70 160 44.5 28.5 37.5 17.5 20.5 134 134 220 58 340 57.98

0.0% 4.3% 0.0% 6.5% 0.0% 3.4% 0.0% 7.7% 0.0% 6.4% 0.0% 1.0% 0.0% 0.0% 0.0% 5.5% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 7.1% 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 37 220 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

ŷ ź Ÿ ŷ ŷ ŷ ŷ Ÿ

230 122 475 122 1,260 290 134 890

230 124 470 122 1,260 290 134 870

4,800,000 4 800 000 260,000 60,000 50,000 20,000 260,000

29 12 3 11 1 27

1,104,040 1 104 040 31,840 28,250 62,900 2,680 232,200

228 122 450 122 1,240 130 880

230 124 465 132 1,260 138 890

0 0% 0.0% 0.0% 3.2% 0.0% 5.8% 3.4% 0.0% 7.3%

260 136 475 158 1,480 345 222 920

214 116 415 122 1,260 290 134 660

ŷ ŷ ŷ ŷ ŷ ŷ ŷ ŷ ŷ

ŷ ŷ ŷ ŷ ŷ

55 114 130 232 35.5 95 1,000 74 16.0 64.0 89 57 65 74 82 18.5 44.0 64 70 42.5 37.0 20.5 37 55 330

1060 435 790 610 880 280 425 750 600 320.31

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

-

-

-2 5 -2 1

1.0 Ex-D -1 -20 -1 0.5 1.0Ex-D 2 -1 5 -1 0.50.5-1 -5 2 1.50.5Ex-D 4 5 0.44-2 5 20

Blackstone Advisory Group

CAPITALS: With the S&P 500 reaching 1400, the real question is: “Why are investors skeptical?”

There are plenty of reasons: Oil prices and prices at the pump remain high; Israel might strike Iran’s, causing turbulence in the Middle East; the 10-year US Treasury note has risen to 2.3 percent and the era of depressed intermediateterm interest rates may be over. Next January a major fiscal drag will begin with tax cuts expiring, the automatic sequestering of funds for defense and health care resulting from the Congressional failure to come up with 1.2 trillion US dollars in budget cuts over ten years, the payroll tax holiday will end and the Obama universal health care program will start.

For the last two years the US equity markets have done early in the year, running into trouble by March. The adage “sell in May and go away” rings true.

Why should this year be any different? Some bears would argue that indexes are where they are because central banks poured liquidity into markets. In the US, M2 has been rising and is up 10 percent YTD. The European Central Bank has put over a trillion euros into the European economy, shoring up the banking system and preventing recession.

While much has been absorbed into the real economy, some has found its way into financial assets, driving stock prices higher.

The US housing industry has been stabilizing and retail sales strengthening. Quarter to quarter retail sales are up 5 percent. Household net worth increased 30 percent since last October, helping both sectors.

Early this year, most investors were cautious and a pessimistic mood prevailed but economic news improved as we moved into the new year, with initial unemployment claims lowering and the rate declining. Q1 industrial production was up 9.5 percent (strongest gain in 15 years). Capital spending remained robust.

With operating rates below 80 percent, not a lot of new plants were being built, but manufacturing employment is increasing faster than service sector employment, a first in 35 years.

Small business optimism levels have increased and there is evidence that banks are lending again. Job openings are up 17 percent and consumer confidence has improved considerably but still a ways from pre-2008 optimism.

At the beginning of the year, investors were worried

Disclaimer: Please note that the views and opinions presented in the column are the company’s own and do not necessarily represent those of Al Watan Daily and its staff.

Date of Closing Prices:

104 260 52 148 315 13.0 62 25.0 130 25.0 230 104 116 102 52 31.0 146 52 29.5 71 36.5 48.5 64 26.0 285 55 38.5 51 38.5 100 232.0 102.0 22.0 22.5 73.0 29.0 182 265 114 28.00 75 66 52 51 64 42.50 110 81.83

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

ź

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Last Close 179.35 6,264.60 Last Prev.

Close Close

Byron Wien, Vice Chairman

about a Chinese slow down but GDP with growth forecast at 7.5 percent for 2012, they’re well above recessionary concerns. Other emerging markets are also off their peak pace, but still have growth rates substantially greater than those of Europe or the US. At the beginning of the year a Eurozone breakup was a major Investors concern, however there are new people in critical roles (albeit untested) there. Draghi as ECB head provided substantial liquidity to strengthen the banking system, offsetting the impact of austerity programs. Italy’s Monti has enlisted support from former Burlesconi followers, and introduced positive reforms. Italy and Spain’s economic prospects have improved - a positive.

It appears that the EU will hold together for the year despite ongoing Greek troubles. Draghi seems to be emulating the US during the 2008 sub-prime crisis, providing funds to avoid a meltdown, a reversal from previous policy focused on controlling the rise in inflation through a restrictive monetary policy.

However the mood has changed to optimism. Most investors have been slow to put their money to work and, as a result, many hedge funds and long-only investors are lagging behind the performance of the major indexes. Ordinarily, optimistic sentiment readings presage a market correction, but with many investors looking for opportunity to increase their exposure that even a minor downdraft gets cut short by the flood.

But market outlook is not devoid of problems. Oil at over $100 a barrel is one, but consumer spending isn’t hampered.

Another concern is that Israel may strike Iran, which would move the price of oil to $150-$200, but I believe the weapons program in Iran has been weakened by assassinations and sabotage and that we won’t see an attack this year.

Investors recognize the US’ strong military and the ability to print money. This meets their test for a safe place to park money, causing an increase in the 10-year US Treasury note yield. However, the appetite for risk is increasing. Despite the price of gold declining, I view gold as an insurance policy against calamity in financial assets.

Based on the principle that stocks compete with bonds, I argue that today the S&P 500 should be over 2000. There is an overarching view among investors that the market is mean-reverting, so perhaps the model will work again, but I am skeptical. We are in for a prolonged period of slow growth and deleveraging while the federal deficit is brought down, so the future will differ. That may mean more modest returns for equities in the future, but for now, I believe we have higher highs ahead.

05 / 01 / 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 ź

The disbelievers

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

Date of Closing Prices: 19 / 04 / 2012 For more information please contact “Global” at (+965) 180 42 42 or www.globalinv.net Global General Index KSE Price Index

11

14.02 0.00 9.33 0.00 0.00 0.00 0.00 0.00 0.00 46.00 0.00 0.00 67.72 0.00 0.00 0.00 0.00 13.76 0.00 0.00 0.00 18.17 20.94 16.18 573.07

0.00 0.00 5.49 13.82

49.42 13.63 16.19 22.83 9.61 15.16 23.87 29.41 0.00 15.86 387.27

102.76 0.00 12.82 8.00 191.91 0.00 0.00 26.88 439.41 0.00 0.00 19.30

21.23 7.29 13.08 16.78 31.88

Shuaiba Industrial

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Metal Collecting Global General Index 116 Kuwait Foundry 350 KSE Price Index

ACICO United Industries 89 Company High Boubyan Petroch.

630 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 Bank Equipment Holding 158 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 740 Ind. & Fin. Inv. Safat Energy 78.0 Securities Group Educational Group Int'L Finance Indep. Petroleum 110 MARKAZ 172 National Cleaning KMIFIC Sultan - 116 Int'L Inv. Center Group Arabi 122 Aref Inv.Group Group City Group Investment Dar - Tele.

2,400 AlWataniya AMAN Inv. Kw Gulf Link 132 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 - 110 KFIC -19.0 Al Safwa Holding KAMCO - Human Soft Int'l Leasing & Holding Inv. -78 Privatization Nat. Int'l Holding -94 Nafaaes Holding - Housing Finance National Slaughter MADAR 120 Aref energy 26.5 AlSafwan Deera Holding 550 AlGulf Safat Inv. 72.0 Petroleum 122.0 AlGulf Salam Group 25.0 Franchising 41.0 Ekttitab Credit Holding & Collection AlNational Qurain Holding -22.5 Ranges Sokouk BurganHolding Well Drilling 16.5 Al-Madina 40.0 IFA H&R Finance NOOR Combinted Group 1,680 Tamdeen Inv. 160 Jeeran Holding 92 KW BH Int'l Exch.

Palms Agro 120 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 300 Amwal Fuel AlOula Masar - 265 265 Future Comm.

Al-Imtiaz 132 124 Hayat Comm.

Global Index - Investment 64 Mubarrad Transport Kuwait Insurance -Kuwait Resorts Gulf Insurance - Advanced Technolgy - Ahlia Insurance Yiaco Medical 112 Warba Insurance Al Jazeera Airways 455 - Kuwait Re-Ins. Al Soor Fuel First Takaful - Future Kid Ins. Wethaq Insurance 290 KGL Global Index - Insurance Al Nawadi Alrai Media Kuwait R.E. 48 Zima R.E. Holding United 100 National 126 GlobalR.E. Index - Services Salhia R.E. 204 LiveStock Trans.

Pearl R.E. Dana Al-Safat 22497 Tamdeen R.E. United Poultry Ajial R.E. - Kw FoodStuff 1,360 Massaleh R.E. United Food Arab R.E. 30.0 Kout R.E. Food 590 Union

114 źŸ 350 źź - ŷ 85 ź Low 620 ŷ 1,120 - ŷŷ 490 - ŷŷ 770 - ŷŷ 640 - źŷ 800 - Ÿ 248 310 ŷŷ 455 144 źŸ 880 - źŷ 580 - ŷ 212 źŷ - - ŷŷ 194 źŸ 260 4075 źŷ 170 źŸ 300 - Ÿŷ 12.5 ŷ - ŷ 52 ź 395 ŷ ŷ - ŷ - ŷ 730 ŷ ŷ 76.0 Ÿ - ŷ - ŷ - ŷ 108 - ŷŷ 162 - ŷź - 108 ŷź 112 - ŷŸ - - ŷŷ 2,340 ŷŷ 124 ŷŸ 108 49 - źŷ - - ŷŷ - - ŷŷ 290 ŷź 31.0 - ŷŷ -ŷ - 104 ŷŸ - 17.5 ŷŷ - - ŷŷ -76 ŷź -94 ŷŸ - - ŷŷ - ŷŷ 118 26.5 550 ŷź - ŷŸ 68.0 114.0 25.0 ŸŸ 39.0 - źŷ - 21.0 ŷŸ 16.5 - ŷŷ 38.5 - źŷ ŷź 1,680 158 źŷ 88 - ŷ 120 Ÿ - ŷ ŷ - ŷ 87 ŷ - ŷ 340 ŷ 53 ŷ 300 - ŷŷ - - ŷŷ 290 - ŷŷ - 265 ŷŷ 265 124 ź 114 źŸ 63 ŷ -- ŷŷ - - ŷŷ - - ŷŷ 108 450 źź - - ŷ - -ŷ 285 ŷŷ - źŷ 48 - źŷ 100 - Ÿŷ 118 Ÿź 200 ź - ŷ ŷ 22496 źź - - ŷŷ 1,360 - ŷŷ 30.0 - źŷ 560 - ŷŸ

Global Index - Food 98 96 ERESCO 86080 84080 Mabani Sharjah Cement 7587 7486 INJAZZAT RE Gulf Cement Inv. Holding Um QuwainGrp Cement 12.070 11.569 Int'L Resorts 91 Fujaira Cement 91 78 77 Commercial R.E 128 126 Ras AlKheimah 70 65 Sanam R.E. ARIG 54 53 Aa'yan R.E United Gulf Bank Aqar Egypt Kw Holding Kuwait R.E Holding Bahrain Kw Ins. 59 AL Mazaya 60 57.0 Gulf Fin. House 59.0 14.0 Al Dar National R.E 14.0 InovestInt'L Holding -73 -68 Themar Ahli United Bank - 168 Grand R.E Projects - 168 - 30.0 Tijara & R.E Invest -31.5 Ithmaar Bank AlGlobal TameerIndex - Non-Kuwaiti Arkan Al-Kuwait R.E 70 70 Markaz Real Estate Safat Global AlInvestment Argan Int'L Funds 28.5 28.0 Abyaar Al-Bareeq Holding 23.5 - 23.5 Munshaat AFAQ First Dubai 26.0 - 25.5 Al-Shamel KBT 27.0 Al-Safat Real Estate 27.0 Manazel 16.532 15.531 Ajwan Real Estate REAM Specialities Group 455 465 - Mena Real Inter.

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

źŸ Ÿŷ Ÿź ź Ÿ ŷ ź Ÿ Ÿ ź ŷ ź ŷ ŷ ŷ ŷ ź ŷ ź ŷź

ŷź ŷź ŷź ź ŷ ŷ ŷ źŷ źŷ ź ŷŷ źź ŷŸ ŷŷ ŷŷ źŷ Ÿ ŷ Global Index - Real Estate Flex 41.5 39.5 ź Dar Al-Thuraya Real E 242 92.0 232 92.0 źŸ Nationl Ind. Group Kw Medical Services 128 - 126 - ŷŷ Pipes Ind. & Oil Kuwait Amar Cement For Fin. & Leas. 455 - 450 - źŷ - ŷ Refrigeration Ind.Market Total Parallel 1,420 1,420 ź Gulf Cables & Elec.

- ŷ Heavy & Ship.

Totaleng.

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

Last Close Previous Close - Change Ex-D 216 216 40,000 2 114 176.53112 2 177.24 -0.70 4,600 -10 5,754.20 10,000 1 -27.30 3,500 360 3505,726.90 226 226 Last Prev.

Trading Activity -4 4,240,000 65 370,560 85 89 Close Close Chng - Volume 30,000Tran.3 Value(KD) 630 18,650 630 1,100 1,100 3,796,050 - 1120 1120 69 3,377,500 20 495 495 - 830,000 407,950 216 216 770 770 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 16 3 248 248 - 700,000 173,600 310 50,000 15,500 310 460 465 -5 2 500,000 10 229,750 145 150 5,700,000 870,840 152 890 -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- 212 960,000 24019 204,080 212 44 44 106 106 - - - - 192 194 46,560 240,000 260 265 -5 2 250,000 1410 65,750 6,000 80,000 4075 1,680,000 -1 67,160 4175 13 1 3,002,200 169.05 16,800,000 332 0.23 168.81 170 1,040,000 20 172 -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 1,230,000 400 46 493,150 400 25.0 25.0 52 52 130 130 1,527,500 2,065,000 740 74 740 31.0 31.0 6,600,000 78.0 59 505,320 76.0 2.0 230 230 110 110 102 102 350 350 -108 112 73,920 680,000 18 658,640 3,960,000 114 170 4.0166 50 50 5,260,000 163 110 585,640 112 44.0 44.0 - -2 149 6,420,000 749,280 112 122 52 52 -10 550 550 74 74 - - - - 55,000 2,400 130,200 2,400 28.5 28.5 -14 869,000 6,700,000 115 132 126 108 14 54,920 108 -6 500,000 58 4958 49.5 15,840 -1 320,000 4 300 300 23 - - 23 - - 355 355 71 - - 71 - - 20,400 70,000 295 290 31.0 31.0 58,760 1,840,000 22 4 --5 255 255 48.5 - 48.5 - - 260 260 - - 68 68 -Ex-D - 2,123,680 19,780,000 238 108 106 2 20.5 20.5 26.0 26.0 34,720,000 203 629,560 17.5 17.5 244 - 244 - - - 270 270 9476 --2 9478 -55 245,280 3,200,000 -2 5189 5194 -5 7,520 80,000 - 36 36 - - - 154 154 -25 51 51 - 76,640 640,000 118 118 26.5 26.5 214 6,360 - -50 240,000 110,000 60,500 550 600 75 75 -75 5,560,000 72.0 390,400 69.0 3.0 8.0 120.0 112.0 1,305,280 2,000 25.0 24.5 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 - 1.0 22.0 239 1,370,040 21.0 63,120,000 16.5 5 7,920 16.5 480,000 260 260 39.0 0.5- - 10,640,000 93 419,440 38.5 410 410 29.0 29.0 - -20 -10 88,200 1,680 52,500 1,700 160 2.0158 12,680 80,000 4 3 10,760 88 88 120,000 255 255 4,800 120 118 2 40,000 2 114 114 72.0 72.0 26.00 26.00 320 000 28 000 88 88 320,000 7 28,000 68 68 340 340 6,800 20,000 2 53 200,000 53 10,600 2 305 305 990,350 3,250,000 - 60 -40 60 168 168 46.5 - - - - 46.5 300 300 950,000 278,550 26 64 64 265 5,300 20,000 265 42.50 - 42.50 -2 265 285 10,000 Ex-D 2,650 128 130 -2 1,240,000 38 1 157,920 124 114 10.0 40,720,000 128 481,120 4,040,000 558 76.02 0.1275.90 2,702,550 63 63 25 78,560 1,240,000 - - 325 325 - 48.0 48.0 -- - 560 560 - 770 770 -485 485 - 350 350 118 -8-5 120,000 110 610 13,200 455 140,000 460 63,150 220 220 Ex-D - 240 240 114 114 - - - 108 Ex-D 108 40.50 40.50 285 285 1,080,000 47 308,050 43.63 43.43 0.19- 120,000 6 13,200 82 82 118 118 1 3,840 49 -1 48 80,000 98 92,000 9 100 9998 1 920,000 383,920 124 120 4 105 3,100,000 1,893 741.93 741.98 170,932,500 0.0512,791,040 12 104,680 200 204 -4 520,000 184 184 37.5 37.5 520,000 97 -1 50,120 96 39 224 10.0100,000 22,400 234 136 136 120 120 - 130,000 1,360 176,800 1,360 82 - -8 82 340 340 1 30.0 80,000 30.5 0.52,400 15,000 8,700 560 550 - 10 108 108 -2 665,000 334.98 235,620 0.22 334.76 31,160 -1 320,000 98 97 819 1,656,950 10 1,935,000 850 57 1 860 40,000 3,200 80 80 2 8,960 120,000 2-1 7586 7387 440,000 6 37,880 15 7 23,960 11.5 12.0 0.5-1 2,000,000 800,000 70 55,480 69 38.0 38.0 93 -2 101,920 91 1,120,000 2 3 18,520 78 77 1 240,000 2 27,760 8 126 124 220,000 67,400 17 1,000,000 65 70 -5 114 114 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 17,200,000 999,480 58.0 58.0 145 1 80,000 1,120 14.0 14.5 0.5116 656,880 9,400,000 - -5 9168 9173 10,080 168 170 60,000 - -2 -2 17.5 17.5 - -2 31.0 31.032.0 30.0 23,360,000 198 716,360 59 59 2,609,040 0.4542.28 52,640,000 485 41.83 -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 86 1.019,240 16.5 15.5 32 480,000 32 -1 15,000 - 10 -17 134 134 465 455 310,000 142,500 - 134 134 51 51 - - - - 220 220 345 345 1 240,000 6 13,520 57 58 106 106 47 610,850 295 290 5 2,110,000 2,260 2,260 0.024,151,200 49.73 49.75 Ex-D 53,085,000 240,000 332 3 42.0 41.0 9,760 92.0 232 128 65 450 55 150 1,420 335 212 720 ź 180 ź 104 460 ź

88.0 4.0 13,220,000 40,000 154 1 242 -10 128 - 140,000 6 65 470 20 50,000 2 55 150 -27 1,070,000 1,460 -40 2,500 1 335 461,297,5005,018 212 Close Prev. Close 720 230,000 19 189.44 180 189.33 184.143 106 184.13-2 80,000 460 568.85 572.06

DTD MTD YTD 0.0% 216 180 12.59 216 -0.40% 116 -1.55% -1.55% 0.0% 120 102 112 495 0.0% 315 350 360 -1.50% -0.47% -1.50% 226 2.2% 196 28.05 222 226 Annual Close 79 Last85 Last 86 Div. 0.0% 102 34.79 Bid620 Ask 630 Yield High630 Low550 P/E89.84 0.0% 1,200 3.6% 1,400 1,100 17.40 1,120 3.6% 1,140 1,120 1,100 14.74 490 495 - 0.0% 510 490 33.95 6.9% 216 206 12.38 770 780 1.9% 790 770 88.62 8.4% 340 9.94 415 390 640 660 660 640 17.34 300 3.1% 275 5.20 0.0% 300 255 840 850 - 1.6% 850 790 29.68 2.2% 218 228 224 35.32 246 248 255 248 23.59 3.2% 305 315 0.0% 25.33 325 260 460 465 475 46051 12.26 152 0.0% 0.0% 148 152 880 - 2.3% 900 88093 25.07 870 0.0% 102 590 - 0.0% 580 590 590 112.24 5.5% 128 18.88 128 18.61 214 2.0% 0.0% 319.54 210 12.90 222 318.41 212 0.0% 0.00 102 106 - 0.0% 10651 10641 40.56 194 4.1% 198 8.5% 214 162 17.30 260 265 265 260 12.09 0.0% 4074 4075 0.0% 4288 4070 2.7% 174.76 163.04 13.90 172 168 0.0% 174 170 88.93 295 300 305 295 12.13 960 910 1,000 6.7% 4.4% 1,120 18.02 12.5 13.0 0.0% 13.5 12.5 1.33 0.0% 280 280 51 52 0.0% 54 52 7.5% 395 400 430 340 15.48 0.0% 25.0 25.0 0.00 0.0% 41 0.00 65 0.0% 130 130 8.8% 730 740 900 690 11.15 33.5 0.0% 36.0 31.0 77.0 78.0 0.0% 81.0 45.0 0.0% 230 230 0.0% 110 110 58.86 0.0% 102 102 0.00 340 355 9.3% 0.0% 350 295 106 110 116 108 164 166 3.0% 170 110 21.21 0.0% 50 50 0.00 0.0% 136 102 - 108 - 110 0.0% 44.0 44.0 0.00 122 0.0% 122 10.31 - - 0.0% 52 5284 0.00 530 0.0% 550 530 0.0% 74 74 0.00 2,400 2.1% 2,420 0.0% 2,400 1,920 12.53 27.0 29.5 28.5 28.5 0.00 132 0.0% 0.0% 130 132 110 112 10895 0.00 108 0.0% 49 5056 0.0% 5168 4958 285 320 0.0% 8.3% 350 230 22.18 21 24 23 22 395 7.0% 340 8.75 - - - 0.0% 71 71 0.00 295 0.0% 290 305 3.4% 260 9.91 31.0 32.5 31.5 31.0 - 0.0% 7.1% 260 255 12.82 48.5 48.5 - 0.0% 260 260 7.7% 4.79 68.0 64.0 68.0 32.31 132 355.94 0.0% - 106 - 108 0.0% 20.5 20.554 - 17.5 - 18.0 0.0% 26.0 26.0 0.00 23.5 14.0 0.0% - 238 - 0.0% 244 244 270 12.91 280 0.0% -75 -76 0.0% 9484 9461 0.00 13.46 6.6% -90 54 - 0.0% 51 5184 116.80 104 0.0% - 0.0% 36 36 0.00 184 154 154 9.95 0.0% 0.0% 51 5191 0.00 118 120 0.0% 120 26.0 26.5 27.0 27.5 710 4.9% 520 13.35 550 0.0% 0.0% 75 75 0.00 71.0 78.0 72.0 0.0% 30.0 11.18 99.0 120.0 120.0 118.0 22.5 28.5 16.0 26.0 0.0% 0.0% 19.5 39.0 41.5 120 130 0.0% 0.0% 140 19.0 20.0 19.0 18.0 22.0 22.5 0.0% 0.0% 22.0 0.00 12.0 16.0 16.5 17.0 16.5 270 0.0% 42.66 275 198 0.0% 39.0 38.0 38.5 39.0 410 0.0% 390 89.44 0.0% 490 380 0.0% 29.0 0.00 % 29.0 1,660 1,680 15.98 1,740 1,500 4.2% 156 8.28 3.8% 156 160 162 84 87 5.84 0.0% 89 73 255 22.77 255 270 5.1% 116 124 13.91 8.3% 124 86 11.92 114 0.0% 114 72.0 74.0 0.0% 78.0 57.0 26 27 0.0% 28 0 0% 0 00 88 89 0.0% 104 80 0.00 68 43.00 63 73 0.0% 68 340 325 340 12.34 8.8% 270 53 53 52 0.0% 55 280 300 305 315 3.99 3.3% 60 61 0.0% 60 130 6.0% 7.71 178 10.8% 168 47 47 - 47 172 4.3% 295 300 305 10.67 64 0.0% 69 64 21.52 0.0% 265 305 42.5 0.00 - 260 - 265 0.0% 42.5 300 128.0 0.0% 265 0.0% 18.62 265 124.0 128.0 132.0 5.19 124 2.4% 124 75.90 70 0.0% 118 10.01 76.32 63 51 0.0% 72 62 16.97 325 300 325 325 49.0 6.2% 0.0% 62.0 20.90 44.0 46.0 12.90 610 510 560 560 1.9% 770 640 31.91 750 4.5% 9.91 460 500 5.2% 520 485 4.3% 390 11.47 345 350 370 17.37 108 114 118 110 0.0% 485 410 9.48 450 455 9.1% 220 220 2.7% 0.0% 270 236 296.83 17.65 236 238 134 11498 110 4.6% 14.91 114 104 108 0.0% 40.5 43.0 0.0% 40.5 300 218 8.72 7.0% 285 290 12.60 44.80 92 43.43 77 8.5% 7.12 77 85 4.7% 0.0% 156 21.95 114 114 120 0.0% 37.20 49 49 48 48 106 0.0% 0.0% 110 12.83 100 100 9994 99 126 0.0% 120 22.21 128 122 12.2% 791.90 705.36 11.33 202 10.0% 200 17.83 208 200 0.0% - 0.0% 222 182 15.27 37.5 37.5 37.5 0.0% 114 234 22490 16.20 22497 4.5% -96 3.7% 136 126 6.02 130 120 110 130 - 0.0% 4.8% 1,500 1,360 1,380 11.38 1,360 6.1% 82 82 5.29 85 345 1.5% 390 44.60 340 290 0.0% 30.5 30.0 31.5 610 5.4% 600 6.5% 500 10.04 560 108 108 15.28 112 118 4.2% 365.22 334.34 11.38 0.0% 100 96 39.65 95 98 860 840 21.70 86076 87081 0.0% 0.0% 44 95 76 73 7681 0.0% 7176 0.0% 108 55 0.00 12.573 11.543 11.585 12.086 0.0% 10.0% 32.52 38.0 38.0 35.5 37.0 69 70 0.0% 0.0% 122 46 0.0% 78 14.56 77 77 79 88 7.9% 126 11.30 118 91 0.0% 75 65 65 124 0.0% 132 126 102 54 26.32 0.0% 55 53 54 0.0% 232 112 387.72 172 116 0.0% 90 90 91 174 330 250 6.24 184 7.1% 0.0% 38.0 38.0 40.5 0.00 455 455 275 290 5.5% 63 60 0.0% 59 550.96 40.5 74.0 0.0% 14.5 4.15 14.5 14.0 0.0% 13.5 0.0% 9458 5.5% 91 91 9057 7.1% 9.27 17.5 17.5 - 68 0.0% 33.5 31.0 31.0 19.44 30.0 0.0% 168.0 170.0 0.0% 57 0.0% 59 59 4.3% 40.74 47.16 8.61 70 74 0.0% 78 70 11.37 1,220 1,220 0.0% 0.00 48.5 48.5 116 126 0.0% 144 124 5.38 28.0 28.5 - 0.0% 29.0 28.0 27.28 0.0% 25.0 - 0.0% 24.5 23.5 23.5 5.03 4.7% 25.0 25.5 26.0 25.5 13.99 6.0% 210 0.0% 24.5 28.0 28.5 27.0 0.0% 22.0 0.0% 15.532 16.032 0.0% 16.5 15.5 0.0% 134 130 134 23.07 14.93 6.1% 455 465 3.7% 32 29 3250 0.0% 32 0.0% 220 - - 0.0% 220 18.82 218 816.78 0.0% 57 60 0.00 5580 5790 0.0% 9.98 0.0% 295 270 0.00 290 295 - 0.0% 0.0% 1.1% 49.86 49.73 16.27 40.0 42.0 0.0% 23.03

3,680 -3,111,120 17,800 122 22,550 45550 150 170,940 3,550 1,420 35,375,460 310 Change 710 165,600 -0.10 178 -0.01 104 8,480 435 -3.21

92.0 232 13070 46554 1,440 340 216 DTD 720 -0.05% 190 0.00% 108 -0.56%

0.0% 0.0% 0.0% 0.0% 2.2% 0.0% 3.3% 0.6% 4.6% 4.73% 3.0% 2.4% 13.9% 5.6% 0.0% 4.3%

232 260 130 128 470 450 158 150 1,460 1,420 340 335 212 222 MTD 710 740 -1.99% 180 180 -3.23% 104 116 460 460 1.65%

70.58 18.38

13.48 6.49 14.66 8.02 193.84 YTD 96.15 -0.11% 10.91 -3.14% 23.15 26.77 1.22%

STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY friday, april 20, 2012

April 21, 2009 April 19, 2012

1% 6%

1% 6% Oman

113 115

111

Qatar

2%

Bahrain

112

19-Mar-12

GCC Best Performers

-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

Close 1

4 ITH Ithmaar Bank

Period's Liquidity 1 Ratio (PLR x)

-1

Country (Index)

Index Level

% Chg.

Ku Kuwait (KSE Weighted Index)

Index 7,514 Level

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

2,500 5,250

-0.5% -4.0%

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

417

52 Wk High

YTD

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

% Chg.-

-0.1%

Turnover USD million

Trailing

Mkt. Cap. USD million

PE

Trailing

BHD 0.486 QAR 6.35

8.0%

BKMBankMuscat

OMR 0.720

8.0%

467

396

128

Mkt.391,066 Cap. USD million 100,864

PE 14.24

PB1.42

4.0% 9.3%

2,775 10,090

2,293 4,130

18 2,183

66,038 264,263

8.72 10.24

1.03 1.77

QG Qatar Gas Transport Co. ALTThe Commercial Real Estate Co.

13.12

2.02

MENA Worst Performers

1,638 406

-0.3% 1.8%

21.0% -0.2%

1,754 787

1,301 316

65 718

34,388 98,547

10.60 9.99

0.78 1.52

8,639 2,695

-0.9% 0.6%

-1.5% 12.8%

8,892 5,148

8,071 2,137

86 122

125,456 69,783

11.42 7.29

BaQa Bahrain Qatar (BSE (DSMIndex) Index)

1,159 5,590

0.5% 3.9%

1.4% -18.8%

1,407 12,627

1,129 4,230

1 196

17,386 65,352

9.26 8.85

1.90 FAC TAM Tamweel Facilities Co. 1.37 Commercial 1.62 ALDALDAR Properties 0.88 238 Rabigh Petrochem.

0.7%

12,109

OmOman UAE(MSM (DFMIndex) Index)

6,004 1,745

Eg Egypt (EGX 30 Index)

4,705

OmOman (MSM Index)

Jo Jordan (Amman General Index)

Ba Bahrain (BSE Index)

M Morocco (Casa All Shares Index)

Eg Egypt (Hermes Egypt Index (HFI))*

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

-0.1% 1.9%

5.4% 6.6%

0.7%

29.9%

2,021

0.3%

1.4%

10,416

-0.4%

1,180

-0.4%

471

0.7%

5,059

-0.1%

5,478

1,681 463

2,825

10,621 1,094

5.1% 0.4%

49

4,224

12,203

10,233

0.3%

1,403

1,164

-1.2%

513

465

2,903 1,033

5,044

-3.3%

14,635

-7.2%

2,119

6.3%

-

3,587

-6.3%

2.4%

-

15 305

1,921

8.5%

2.2%

5,628

5,419 1,433

2,216

-6.8%

-

6,372 5,860

328

-

2,551 -

1,043

-

Pa Palestine (Al-Quds Index)

546

0.9%

23.6%

739

407

Tu TunisiaClosed (Tunis SE Index)* * Market

3,282

-

13.6%

3,418

2,837

-6.8%

8.07

1.29

101 Riyad Bank

SAR 24.70

-6.4%

7.67

1.56

33,782

12.71

2.15

59,990

18.36

3.95

8,507

6.47

0.86

2,079

8.67

2.50

6,576

13.85

1.92

56,893

15.26

1.30

1.61 3.25

6.30

10,051

15.60

ARTArabtec Holding (UAE)

1.78

TAMTamweel (UAE)

118

97,126,838

KFI Kuwait Finance House (KUW)

88,742,222

EMAEmaar Properties (UAE) Best Performers

64,280,166

115

Market Cap. (SAR '000)

-

Turnover (SAR '000)

1,466,614,044

Close

% Chg.

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

Highest Turnover

Worst Performers Turnover (SAR) 7020.SSE Etihad Etisalat Co. #N/A #N/A #N/A #N/A #N/A #N/A

1 Al Rajhi Bank #

#N/A

#

#N/A

#

#N/A

#N/A

#N/A

#N/A

#

119,955,261 6,010,354

NBKNational Bank of Kuwait (KUW)

7,931 / 5,916

105

S&P GCC Large/Mid Composite

343,553,085 9,425,418

115 (KSA)(QA) MAAlinma MasrafBank Al Rayan

-

Tadawul Index 52 week High / Low

19-Apr-12

9,619,154

EMAEmaar Properties (UAE)

Advance/Decline Ratio

19-Mar-12

14,834,311

Turnover (USD)

201 Saudi Basic Industries (KSA) CBQ The Commercial BankCorp. of Qatar (QA)

83%

% of stocks trading above 1yr avg. price

19-Feb-12

15,679,006

7,514 (0.0%)

Tadawul Index (% Chg.)

115

Turnover (USD)

MENA Highest Turnover

1.15

Summary

125

GCC Highest Turnover

0.85

9.13

SAUDI ARABIA *Market Closed Rebased Performance

-3.5% -8.9%

SAR 13.70

13.74

2,519

-

1.09 SARAED 22.95

225 Saudi Industrial Inv. Grp.

27,711 10,519

2

1.19 -13.1% -4.0% KWDAED 0.265

1.68

9.31

63,640

8

KWD 0.091% Chg. -4.2% Close

9.50

18,727

4

-4.5%

-3.3% -8.6%

4

2

% Chg.

1.76 SARAED 48.00

15,024

1

Close QAR 16.89

0.89 201 ARM Aramex 1.74 Saudi Basic Industries Corp.

46

67

9,406

4,091

10.85 6.87

55,433

14

1,572

5,065

18,425 37,413

2.3%

QAR 21.60

Turnover USD million

2.8%

2.5% 8.6%

KWD 0.890

GCC Worst Performers

PB

3.1% 8.8%

QGTQatar Gas Transport Co.

525,916 Wk Low

17.1% YTD

52 Wk 7,931 High

52 Wk Low

3.6% 9.8%

KWD 0.132 OMR 0.703

BATBahrain Telecommunications Co. KCB Al Khaliji Commercial Bank

QaUAUAE Qatar (DSM Index) (ADSM Index)

95 19-Jan-12

AED 3.46 SAR 5.60

NRGalfar National Real Estate Co. GEC Engineering & Contracting PCEKuwait Portland Cement Co.

MENA Indices Highlights

% Chg.

USD 0.105% Chg. 5.0% Close

ART Arabtec Hldg.

Holding 3 428 Kingdom Co.

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

Abu Dhabi

MENA Best Performers

Qatar

-1%

19-Apr-12

-1%

-6%

Abu Dhabi Saudi

19-Feb-12

-4%

Kuwait

Dubai

90 95 19-Jan-12 85

Oman

Tunisia Abu Dhabi

Bahrain

Palestine Palestine

95 100

0%

-2%

Dubai Dubai

Abu Dhabi

0%

100

105

Kuwait

Qatar

Return DailyDaily Return (%)(%)

Dubai

Oman Saudi

110

0%

0%

Morocco Qatar

105

4%

Oman Lebanon

115110

Jordan Kuwait Kuwait

113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Egypt Jordan

120115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

#N/A

Close

% Chg.

67.00 -

#N/A

7020.SSE Etihad Etisalat Co.

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

67.00 -

Saudi SE

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (SAR '000)

Volume ('000)

52-Week High

% Change

Low

on high

YTD

12 mths

Market Cap. (SAR '000)

Trailing PE

PB

1 Al Rajhi Bank

78.00

-

-

-

-

-

82.75

67.25

-5.7%

12.2%

4.7%

117,000,000

15.9

3.6

1 Alinma Bank

15.20

-

-

-

-

-

16.25

9.05

-6.5%

62.6%

52.0%

22,800,000

nmf

1.4

2 Almarai Co.

62.25

-

-

-

-

-

71.75

48.41

-13.2%

8.8%

15.8%

24,900,000

21.7

3.5

1 Arab National Bank

31.20

-

-

-

-

-

33.70

26.60

-7.4%

13.5%

-5.5%

26,520,000

12.2

1.6

1 Bank AlBilad

31.60

-

-

-

-

-

32.90

17.20

-4.0%

59.2%

71.3%

9,480,000

29.0

2.8

1 Bank Al Jazira

29.50

-

-

-

-

-

31.90

15.75

-7.5%

74.0%

56.5%

8,850,000

32.7

1.9

1 Banque Saudi Fransi

38.90

-

-

-

-

-

40.00

30.00

-2.8%

15.5%

6.4%

35,166,295

12.1

1.8

4 Dar Al Arkan Real Estate Dev. Co.

11.50

-

-

-

-

-

13.85

6.05

-17.0%

58.6%

23.0%

12,420,000

11.4

0.8

4 Emaar the Economic City

12.50

-

-

-

-

-

13.60

6.20

-8.1%

70.1%

85.2%

10,625,000

nmf

1.4 2.6

7 Etihad Etisalat Co.

67.00

-

-

-

-

-

68.25

50.00

-1.8%

27.6%

27.0%

46,900,000

9.2

4 Jabal Omar Development Co.

21.15

-

-

-

-

-

21.15

11.10

0.0%

74.1%

57.8%

19,656,810

nmf

2.2

155.00

-

-

-

-

-

155.50

101.83

-0.3%

11.3%

52.0%

9,300,000

18.1

10.3

4 Kingdom Holding Co.

12.05

-

-

-

-

-

13.10

7.05

-8.0%

36.2%

44.3%

44,655,882

nmf

1.8

2 National Industrialization Co.

37.00

-

-

-

-

-

50.75

35.10

-27.1%

-9.1%

2.8%

20,624,853

8.4

1.9

2 Rabigh Refining & Petrochemical Co.

22.90

-

-

-

-

-

29.80

21.20

-23.2%

-1.5%

-3.8%

20,060,400

nmf

2.5

1 Riyad Bank

25.10

-

-

-

-

-

26.90

23.10

-6.7%

7.7%

-2.3%

37,650,000

12.0

1.2

1 Samba Financial Grp.

53.75

-

-

-

-

-

56.75

42.40

-5.3%

15.3%

0.0%

48,375,000

11.2

1.7 5.0

4 Jarir Marketing Co.

2 Saudi Arabian Fertilizer Co. 1 Saudi Arabian Mining Co. 2 Saudi Basic Industries Corp.

3 Saudi Cement Co.

181.00

-

-

-

-

-

200.00

165.00

-9.5%

2.8%

5.8%

45,250,000

11.1

34.40

-

-

-

-

-

37.50

24.25

-8.3%

36.0%

37.9%

31,820,000

nmf

1.9

102.00

-

-

-

-

-

112.50

87.75

-9.3%

6.0%

-6.4%

306,000,000

10.5

2.2

92.00

-

-

-

-

-

98.00

54.75

-6.1%

27.8%

68.0%

14,076,000

14.9

4.8

5 Saudi Electricity Co.

13.65

-

-

-

-

-

16.30

12.85

-16.3%

-1.8%

5.4%

56,874,006

25.6

1.1

Saudi Hollandi Bank

29.00

-

-

-

-

-

29.30

21.42

-1.0%

16.8%

14.1%

11,510,100

11.4

1.6

23.20

-

-

-

-

-

27.20

18.55

-14.7%

22.1%

-7.2%

10,440,000

19.8

1.7

21.90

-

-

-

-

-

24.45

17.75

-10.4%

11.2%

7.1%

8,030,000

11.4

1.4

19.00

-

-

-

-

-

21.00

15.55

-9.5%

17.6%

0.8%

10,450,000

14.8

1.2

1

22 Saudi Industrial Investment Grp.

2 Saudi International Petrochemical Co. 1 Saudi Investment Bank 2 Saudi Kayan Petrochemical Co. 7 Saudi Telecom Co. 2 Savola Group Co. 0 3 Southern Province Cement Co. 0 1 SABB

17.70

-

-

-

-

-

21.30

15.50

-16.9%

1.7%

1.4%

26,550,000

nmf

1.7

41.20

-

-

-

-

-

41.30

33.00

-0.2%

21.9%

7.6%

82,400,000

10.8

1.8

34.60

-

-

-

-

-

35.50

23.70

-2.5%

20.6%

29.6%

17,300,000

14.5

2.2

98.50

-

-

-

-

-

106.75

62.00

-7.7%

14.5%

58.2%

13,790,000

15.4

5.2

36.70

-

-

-

-

-

46.30

34.20

-20.7%

-9.8%

-18.4%

36,700,000

12.7

2.1

3 Yamama Saudi Cement Co.

51.25

-

-

-

-

-

83.25

47.50

-38.4%

-26.8%

-6.8%

10,378,125

14.1

3.1

2 Yanbu National Petrochemicals Co.

55.50

-

-

-

-

-

56.00

41.60

-0.9%

26.1%

11.7%

31,218,750

9.8

3.0

9.65

-

-

-

-

-

11.50

5.25

-16.1%

73.9%

39.9%

13,510,000

nmf

3.1

7 Zain - Saudi Arabia

STOCKS WITH NBK CAPITAL

13

ALWATAN DAILY friday, april 20, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,265 (-0.1%)

KSE General Index (% Chg.)

120

417 (-0.1%)

KSE Weighted Index (% Chg.)

53%

% of stocks trading above 1yr avg. price 115

115

1.00

Advance/Decline Ratio

100

19-Mar-12

19-Apr-12

S&P GCC Large/Mid Composite

2.3%

FACIL.KSE Commercial Facilities Co.

0.260

2.0%

Al Ahli Bank of Kuwait

Highest Turnover

0.285

1.8%

0.610

1.7%

Worst Performers Turnover (KWD) 1,527,500

Zain Kuwait ZA

19-Feb-12

0.890

28,090,571

Market Cap. (KWD '000)

95 19-Jan-12

3.1%

PCEM.KSE Kuwait Portland Cement Co.

35,539

Turnover (KWD '000)

102

% Chg.

0.132

467 / 396 ABK.KSE

KSE Weighted Index 52 week High / Low

105

National Real Estate Co.

6,523 / 5,694 KAMCO.KSKIPCO Asset Management Co.

KSE General Index 52 week High / Low 110

Close NRE.KSE

Close

% Chg.

ALTIJARIA The Commercial Real Estate Co.

0.091

-4.2%

N National Bank of Kuwait

1,116,800

MABANEE. Mabanee Co.

1.000

-2.0%

N National Industries Grp. Holding

1,104,040

SULTAN.KSSultan Center Food Products Co.

0.110

-1.8%

K Kuwait Finance House

1,092,000

NINV.KSE National Investments Company

0.148

-1.3%

KFIN.KSE Kuwait Finance House

0.750

-1.3%

990,350

A Alafco Aviation Lease and Fin. Co.

KSE Weighted Index

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (KWD '000)

52-Week

Volume ('000)

High

% Change

Low

on high

YTD

12 mths

Trailing

Market Cap. (KWD '000)

PE

PB

A Agility

0.400

0.0%

0.405

0.395

493

1,230

0.435

0.248

-8.0%

6.7%

-2.4%

418,735

15.5

0.5

A Al Ahli Bank of Kuwait

0.610

1.7%

0.610

0.610

3

5

0.657

0.590

-7.2%

-3.0%

3.4%

923,076

20.3

1.9

T Al Themar Intl. Holding Co.

0.087

-

-

-

-

0.104

0.079

-16.3%

-4.4%

-13.0%

88,088

nmf

1.0

A Alafco Aviation Lease and Fin. Co.

0.305

0.0%

0.305

0.300

990

3,250

0.380

0.280

-19.7%

-3.2%

-19.7%

237,830

6.0

1.6

A AREF Energy Holding Co.

0.118

0.0%

0.120

0.118

77

640

0.124

0.085

-4.8%

11.3%

-1.7%

88,500

nmf

1.3

B Boubyan Bank

0.600

0.0%

0.600

0.590

431

730

0.620

0.530

-3.2%

1.7%

-1.6%

1,048,941

nmf

4.3

B Boubyan Petrochemical Co.

0.630

0.0%

0.630

0.620

19

30

0.630

0.530

0.0%

12.5%

12.5%

305,613

34.9

1.2

B Burgan Bank

0.425

0.0%

0.425

0.420

50

0.524

0.410

-18.9%

-6.0%

-12.6%

656,611

13.0

1.5

A Burgan Co. for Well Drilling

0.260

-

-

-

0.420

0.198

-38.1%

22.6%

-44.7%

54,503

37.2

1.0

C Combined Grp Contracting Co.

1.680

-1.2%

1.680

1.680

1.945

1.300

-13.6%

6.3%

-5.7%

162,339

16.4

4.0

C Commercial Bank of Kuwait

0.790

-

-

-

0.940

0.700

-16.0%

0.0%

-15.1%

1,004,898

nmf

1.9

F Commercial Facilities Co.

0.260

2.0%

0.260

0.260

0.255

-31.6%

0.0%

-29.7%

139,559

9.8

0.9

G Global Investment House

0.049

-

-

-

G Gulf Bank

0.435

1.2%

0.435

0.425

1.260

1.240

-

-

C Gulf Cable and Electrical Industries Co.

1.260

0.0%

IF IFA Hotels & Resorts

0.410

-

IK Ikarus Petroleum Industries Co.

0.194

1.0%

0.194

0.194

-

21 -

88

53

-

13

50

0.380

-

-

0.055

0.019

-10.9%

0.0%

25.6%

64,309

nmf

3.1

172

400

0.552

0.425

-21.2%

-10.5%

-15.4%

1,145,393

37.4

2.7

50

1.5

63

1.680

1.260

-25.0%

-11.3%

-24.1%

264,513

7.3

-

0.495

0.285

-17.2%

-13.7%

-9.9%

186,092

nmf

3.8

47

240

0.214

0.138

-9.3%

14.1%

34.7%

145,500

17.3

1.0

-

IF International Finance Co.

0.104

0.0%

0.104

0.100

204

2,000

0.242

0.096

-57.0%

2.0%

-59.2%

83,500

nmf

0.8

JAJazeera Airways

0.455

-1.1%

0.455

0.450

63

140

0.485

0.120

-6.2%

0.0%

285.6%

100,100

9.5

3.9

K KIPCO Asset Management Co.

0.285

1.8%

0.285

0.280

42

150

0.295

0.236

-3.4%

16.8%

5.6%

75,041

nmf

0.9

K Kuwait Cement Co.

0.475

1.1%

0.475

0.470

28

60

0.630

0.415

-24.6%

3.3%

-19.5%

302,886

21.2

2.1

K Kuwait Finance House

0.750

-1.3%

0.760

0.740

1,092

1,455

1.019

0.720

-26.4%

-10.0%

-25.0%

2,178,123

36.2

1.2

F Kuwait Food Co.

1.360

0.0%

1.360

1.360

177

130

1.620

1.360

-16.0%

-8.1%

-10.5%

546,723

11.4

1.9

K Kuwait International Bank

0.280

0.0%

0.280

0.275

364

1,320

0.350

0.236

-20.0%

9.8%

-12.5%

290,451

26.8

1.4

P Kuwait Portland Cement Co.

0.890

2.3%

0.900

0.870

232

260

1.580

0.660

-43.7%

25.4%

-42.2%

80,905

31.9

1.3

280

0.405

0.281

-22.2%

8.6%

-18.4%

421,021

14.0

0.7

78

1.020

0.691

-2.0%

27.9%

39.3%

611,189

29.4

4.2

K Kuwait Projects Co. (Holding)

0.315

0.0%

0.315

0.310

87

M Mabanee Co.

1.000

-2.0%

1.020

1.000

78

M Mena Holding

0.033

-

-

-

-

-

-

-

0.0%

0.0%

0.0%

21,780

2.3

0.1

N National Bank of Kuwait

1.060

0.0%

1.080

1.060

1,117

1,038

1.145

0.909

-7.4%

4.1%

-1.2%

4,614,707

15.2

2.0

N National Industries Co.

0.310

0.0%

0.310

0.310

16

50

0.340

0.260

-8.8%

10.7%

-6.1%

107,323

25.3

1.4

N National Industries Grp. Holding

0.230

0.0%

0.232

0.228

1,104

4,800

0.285

0.192

-19.3%

-11.5%

-16.4%

297,873

nmf

0.8

N National Investments Company

0.148

-1.3%

0.150

0.148

202

1,360

0.295

0.144

-49.8%

-14.0%

-48.1%

129,680

nmf

0.7

N National Real Estate Co.

0.132

3.1%

0.134

0.130

415

3,160

0.168

0.056

-21.4%

3.1%

22.2%

-

nmf

0.7

O Oula Fuel Marketing Co.

0.265

0.0%

0.265

0.265

5

20

0.360

0.265

-26.4%

-11.7%

-13.1%

87,370

21.5

2.1

A Qurain Petrochemicals Industries Co.

0.212

0.0%

0.214

0.212

204

960

0.226

0.186

-6.2%

-0.9%

7.1%

233,200

12.9

1.1

S Salhia Real Estate Co.

0.232

-0.9%

0.232

0.232

23

100

0.246

0.200

-5.7%

11.5%

8.4%

118,952

16.6

0.9

S Sultan Center Food Products Co.

0.110

-1.8%

0.116

0.108

586

5,260

0.136

0.093

-19.1%

-8.3%

-14.1%

63,671

nmf

0.9

T Tamdeen Real Estate Co.

0.234

-

-

-

-

0.270

0.216

-13.3%

1.7%

-6.4%

87,310

22.8

0.9

A The Commercial Real Estate Co.

0.091

-4.2%

0.091

0.089

2,160

0.097

0.067

-6.2%

18.2%

28.2%

166,968

15.9

0.7

S The Securities House

0.130

-

-

-

-

-

-

0.0%

0.0%

0.0%

88,400

nmf

7.0

N Wataniya

2.400

0.0%

2.400

2.340

130

55

2.400

1.880

0.0%

23.7%

25.0%

1,209,679

3.3

1.5

Z Zain Kuwait

0.740

0.0%

0.740

0.730

1,528

2,065

1.200

0.690

-38.3%

-17.8%

-36.2%

3,187,576

11.2

1.5

193 -

UAE Rebased Performance

Summary

135

Best Performers

DFM Index (% Chg.)

1,638 (-0.3%)

ADSM Index (% Chg.)

2,500 (-0.5%)

59% UPP.DFM 0.25 DIB.DFM

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

125

124

S&P GCC Large/Mid Composite

Abu Dhabi SE

1.15

0.9%

3.17

0.0%

Worst Performers Turnover (AED) 57,592,125 TAMWEEL Tamweel 54,489,392 ALDAR.AD ALDAR Properties 35,333,077 ARMX.DFM Aramex

E Emaar Properties 19-Apr-12

1.0%

Dubai Financial Market

302,994

TATamweel

19-Mar-12

2.00

397,404,167

A Arabtec Holding

19-Feb-12

2.1%

Dubai Islamic Bank

2,775 / 2,293 ADIB.ADSM Abu Dhabi Islamic Bank

107

95 19-Jan-12

0.45

ADSM Index 52 week High / Low

Highest Turnover 105

3.6%

Union Properties

1,754 / 1,301 DFM.DFM

Market Cap. (AED '000)

115

% Chg.

3.46

DFM Index 52 week High / Low Turnover (AED '000)

115

Close ARTC.DFM Arabtec Holding

Close

% Chg.

1.19

-4.0%

1.09

-3.5%

1.76

-3.3%

E Etisalat

14,475,357

SOROUH.A Sorouh Real Estate Co.

1.08

-2.7%

A ALDAR Properties

12,763,076

AIRARABIA Air Arabia

0.63

-2.6%

Dubai FM

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (AED '000)

Volume ('000)

52-Week High

% Change

Low

on high

YTD

12 mths

Trailing

Market Cap. (AED '000)

PE

PB

A Abu Dhabi Commercial Bank

3.21

-0.6%

3.23

3.18

1,598

497

3.32

2.62

-3.3%

15.5%

22.5%

17,961,868

5.9

A Abu Dhabi Islamic Bank

3.17

0.0%

3.20

3.17

78

24

3.55

2.92

-10.7%

0.3%

-1.2%

7,496,118

6.5

1.1

T Abu Dhabi National Energy Co.

1.34

-0.7%

1.35

1.34

1,417

1,057

1.63

1.14

-17.8%

11.7%

-14.1%

8,341,500

12.8

1.1

A Abu Dhabi National Hotels

2.19

-

-

-

2.94

2.02

-25.5%

-0.5%

-25.0%

2,190,000

8.7

0.3

A Air Arabia

0.63

-2.6%

0.65

0.62

6,432

10,181

0.77

0.57

-18.2%

7.7%

-16.8%

2,944,688

10.9

0.6

A ALDAR Properties

1.09

-3.5%

1.12

1.07

12,763

11,675

1.68

0.76

-35.1%

18.5%

-35.1%

4,452,791

6.9

0.6

A Amlak Finance

1.02

-

-

-

0.0%

0.0%

0.0%

1,530,000

nmf

1.1

A Arabtec Holding

3.46

3.6%

3.29

57,592

16,911

-4.7%

117.6%

124.7%

5,172,700

20.3

1.8

A Aramex

1.76

-3.3%

1.79

1.76

307

173

1.96

1.69

-10.2%

-2.2%

-7.4%

2,576,816

12.2

1.4

A Arkan Building Materials Co.

0.96

0.0%

0.99

0.95

250

259

1.68

0.71

-42.9%

-5.0%

-41.8%

1,680,000

nmf

1.0

C Commercial Bank of Dubai

2.75

0.0%

2.75

2.75

825

300

3.24

2.75

-15.1%

-0.4%

-2.1%

5,605,468

6.8

0.9

-

3.49

-

-

3.63

1.24

-

-

0.71

0.34

-33.8%

4.4%

-31.9%

3,102,941

6.1

0.4

0.38

1,720

4,511

0.46

0.20

-14.7%

82.2%

19.4%

2,241,864

nmf

0.6

3.20

3.15

11,819

3,730

3.63

2.80

-12.7%

9.7%

-0.3%

14,491,429

13.2

2.3

1.15

1.12

12,453

11,012

1.46

0.68

-21.2%

36.9%

-17.9%

9,200,000

nmf

1.2

2.31

1.88

-13.4%

3.1%

-10.7%

7,594,108

7.5

0.8

3.49

2.41

-8.3%

24.5%

-6.2%

19,491,963

10.9

0.6

4.63

2.65

-39.5%

-4.8%

-24.3%

15,561,769

6.1

0.4

11.20 10.75

8.57 6.98

-22.7% -15.2%

-5.1% 18.1%

-16.7% 3.6%

68,467,172 27,360,000

11.7 7.4

1.7 1.0

886,785

D Dana Gas

0.47

-

D Deyaar Development Co.

0.39

-0.5%

D du

3.17

-1.3%

D Dubai Financial Market

1.15

0.9%

D Dubai Islamic Bank

2.00

1.0%

2.00

1.97

1,853

933

E Emaar Properties

3.20

-0.3%

3.22

3.16

35,333

11,071

E Emirates NBD

2.80

-2.4%

2.88

2.80

1,423

505

E Etisalat F First Gulf Bank

8.66 9.12

-0.6% -0.9%

8.73 9.20

8.60 9.02

14,475 10,341

1,672 1,134

0.39

-

1.08

-

-

-

-

-

1.56

0.67

-30.8%

52.1%

-24.5%

91.45

-

-

-

-

-

102.00

74.70

-10.3%

-9.9%

22.4%

N National Bank of Abu Dhabi

8.60

-0.2%

333

9.00

7.38

-4.4%

6.0%

1.8%

N National Bank of Fujairah

4.51

-

-

-

-

-

4.70

3.00

-4.0%

-0.9%

6.1%

N National Bank of Umm Al Qaiwain

1.78

-

-

-

-

-

2.24

1.63

-20.5%

-1.7%

S Sharjah Islamic Bank

0.89

-1.1%

0.90

0.88

84

94

1.02

0.80

-12.7%

S Sorouh Real Estate Co.

1.08

-2.7%

1.10

1.07

11,065

10,215

1.54

0.67

G Gulf Cement Co. M Mashreq

0.8

8.65

8.56

2,867

nmf

0.7

18.8

1.3

33,321,202

9.0

1.3

4,961,000

17.7

2.4

-15.6%

2,848,000

8.9

0.9

6.0%

0.0%

2,158,695

8.6

0.5

-29.9%

27.1%

-28.0%

2,835,000

8.5

0.4

-

T Tamweel

1.19

-4.0%

1.23

1.12

54,489

47,092

1.49

0.53

-20.1%

97.3%

20.2%

1,190,000

12.8

0.5

U Union National Bank

2.91

-1.7%

2.93

2.85

396

136

3.90

2.82

-25.4%

0.7%

-11.6%

7,262,269

4.8

0.7

U Union Properties

0.45

2.1%

0.45

0.44

2,631

5,926

0.50

0.24

-9.5%

73.6%

4.9%

1,508,352

nmf

0.6

U United Arab Bank

3.95

-

-

-

4.50

3.28

-12.2%

8.5%

-21.0%

3,935,785

11.9

1.9

* Closing Prices, Turnover and Market Cap. in USD

-

-

STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY friday, april 20, 2012

QATAR Rebased Performance

Summary

Best Performers 8,639 (-0.9%)

DSM Index (% Chg.)

120

Advance/Decline Ratio

115

Market Cap. (QAR '000)

456,861,184

50.90

19-Apr-12

S&P GCC Large/Mid Composite

QIIK.DSM Qatar International Islamic Bank

Turnover (QAR) 34,323,601 QGTS.DSMQatar Gas Transport Co. 21,887,304 DHBK.DSMDoha Bank

MMasraf Al Rayan

19-Mar-12

0.0%

#N/A

#N/A -0.2%

Worst Performers

C The Commercial Bank of Qatar

19-Feb-12

0.9%

26.85

100

90 19-Jan-12

1.8%

8.68

8,892 / 8,071 MARK.DSMMasraf Al Rayan 312,326 #N/A #N/A

Highest Turnover

102

% Chg.

19.34

Turnover (QAR '000)

DSM 52 week High / Low

110

Close

33% ERES.DSMEzdan Real Estate Co. 0.17 VFQS.DSM Vodafone Qatar

% of stocks trading above 1yr avg. price

Close

% Chg.

16.89

-4.5%

58.30

-2.7%

Q Qatar Gas Transport Co.

21,828,310

QEWS.DSMQatar Electricity & Water Co.

138.20

-2.3%

IQIndustries Qatar

21,476,780

AHCS.DSMAamal Co.

19.00

-2.1%

B Barwa Real Estate Co.

15,572,535

CBQK.DSMThe Commercial Bank of Qatar

74.00

-1.5%

Doha SM

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (QAR '000)

52-Week

Volume ('000)

High

% Change

Low

on high

YTD

12 mths

Market Cap. (QAR '000)

Trailing PE

PB

A Aamal Co.

19.00

-2.1%

19.65

19.00

1,212

63

24.09

15.40

-21.1%

19.5%

7.2%

9,405,000

19.1

K Al Khalij Commercial Bank

16.38

-0.4%

16.60

16.38

1,968

120

18.68

16.06

-12.3%

-4.6%

-11.5%

5,896,800

12.0

1.1

B Barwa Real Estate Co.

27.65

-1.3%

28.20

27.60

15,573

559

33.40

27.65

-17.2%

-7.7%

-17.2%

10,759,296

8.9

0.9

C The Commercial Bank of Qatar

74.00

-1.5%

75.00

73.60

34,324

463

85.50

68.00

-13.5%

-11.9%

1.4%

18,311,032

9.7

1.3

D Doha Bank

58.30

-2.7%

59.50

57.60

9,340

159

67.00

50.00

-13.0%

-9.0%

10.8%

12,050,482

9.7

1.7

E Ezdan Real Estate Co. IQIndustries Qatar

1.6

19.34

1.8%

19.34

19.10

96

5

24.97

18.60

-22.5%

-12.9%

-19.1%

51,299,286

nmf

1.8

139.80

-0.9%

141.20

139.60

21,477

153

148.50

118.80

-5.9%

5.1%

-4.9%

76,890,000

9.7

2.9 2.4

26.85

0.0%

26.95

26.80

21,887

814

28.10

22.50

-4.4%

-3.6%

11.9%

20,137,500

14.3

138.20

-2.3%

141.50

138.20

1,121

8

148.00

129.50

-6.6%

-1.0%

-5.0%

13,820,000

10.6

4.6

Q Qatar Gas Transport Co.

16.89

-4.5%

17.08

16.80

21,828

1,289

18.63

16.59

-9.3%

-3.5%

-8.1%

9,354,425

11.2

6.4

Q Qatar International Islamic Bank

50.90

-0.2%

51.40

50.70

3,148

62

56.20

45.50

-9.4%

-5.7%

8.0%

7,704,669

11.5

1.7

Q Qatar Islamic Bank

77.00

-0.7%

77.50

77.00

5,059

66

85.30

76.30

-9.7%

-8.7%

-3.8%

18,194,576

12.7

1.7

99

141.73

122.73

-5.3%

-2.9%

8.2%

93,903,691

12.0

2.3

56

87.50

69.40

-20.1%

-8.6%

-16.4%

8,005,311

11.4

0.8

M Masraf Al Rayan Q Qatar Electricity & Water Co.

Q Qatar National Bank Q Qatar Navigation Q Qatar Telecom V Vodafone Qatar

134.20

0.0%

134.50

133.10

13,258

69.90

-1.1%

71.00

69.70

3,946

128.70

-1.0%

130.40

128.70

3,736

29

135.60

107.69

-5.1%

18.8%

12.3%

29,446,560

11.4

1.4

8.68

0.9%

8.77

8.54

5,541

642

9.22

7.24

-5.9%

15.0%

10.2%

7,338,072

nmf

1.1

OMAN Rebased Performance

Summary

Best Performers 6,004 (-0.1%)

MSM Index (% Chg.)

120

Advance/Decline Ratio

115

6,372 / 5,419 OTEL.MSMOman Telecommunications Co. 5,650 RNSS.MSMRenaissance Services

MSM 52 week High / Low Turnover (OMR '000)

110

7,093,603

Market Cap (OMR '000)

108

Close

47% OCOI.MSM Oman Cement Co. 2.00 RCCI.MSM Raysut Cement Co.

% of stocks trading above 1yr avg. price

NBOB.MSMNational Bank of Oman

Highest Turnover

Turnover (OMR) 585,752 BKDB.MSMBank Dhofar 387,578 BKMB.MSMBank Muscat

B Bank Muscat R Renaissance Services

19-Mar-12

19-Apr-12

S&P GCC Large/Mid Composite

1.11

0.2%

1.28

0.2%

0.65

0.2%

0.30

0.0%

Close

% Chg.

0.46

-0.7%

0.63

-0.6%

283,838

NBOB.MSMNational Bank of Oman

0.30

0.0%

N National Bank of Oman

71,581

RNSS.MSMRenaissance Services

0.65

0.2%

O Oman Cement Co.

28,290

OTEL.MSMOman Telecommunications Co.

1.28

0.2%

O Oman Telecommunications Co. 19-Feb-12

1.1%

Worst Performers

100

90 19-Jan-12

% Chg.

0.63

Muscat SM

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (OMR '000)

Volume ('000)

52-Week High

% Change

Low

on high

YTD

12 mths

Market Cap. (OMR '000)

Trailing PE

PB

B Bank Dhofar

0.458

-0.7%

0.460

0.456

18

39

0.549

0.423

-16.6%

0.7%

-16.3%

503,853

12.6

2.2

B Bank Muscat

0.630

-0.6%

0.634

0.626

586

930

0.679

0.572

-7.2%

-5.4%

-5.0%

1,131,980

9.6

1.3

N National Bank of Oman

0.303

0.0%

0.307

0.302

72

236

0.324

0.291

-6.5%

-2.9%

-1.0%

335,732

9.8

1.2

O Oman Cement Co.

0.629

1.1%

0.630

0.620

28

45

0.629

0.416

0.0%

45.6%

3.5%

208,119

16.3

1.4

O Oman Telecommunications Co.

1.284

0.2%

1.290

1.282

284

221

1.425

1.041

-9.9%

-1.9%

15.8%

963,000

8.6

2.0

R Raysut Cement Co.

1.112

0.2%

1.115

1.110

22

19

1.112

0.711

0.0%

46.3%

1.6%

222,400

14.9

2.2

R Renaissance Services

0.649

0.2%

0.665

0.640

388

597

1.056

0.458

-38.5%

19.1%

-38.0%

183,079

nmf

1.1

BAHRAIN Rebased Performance

Summary

Best Performers 1,159 (0.5%)

BSE Index (% Chg.)

120

26% ITHMR.BSE Ithmaar Bank - BATELCO.BBahrain Telecommunications Co.

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

115

1,407 / 1,129 BISB.BSE 236 #N/A

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

110

6,554,344

Market Cap. (BHD '000)

B BBK

19-Mar-12

19-Apr-12

S&P GCC Large/Mid Composite

0.11

5.0%

0.49

2.5%

0.09

0.0%

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

Turnover (BHD) 55,640 BISB.BSE Bahrain Islamic Bank 45,585 BATELCO.BBahrain Telecommunications Co. 12,587

IT Ithmaar Bank 19-Feb-12

Bahrain Islamic Bank

% Chg.

Worst Performers

B Bahrain Telecommunications Co.

90 19-Jan-12

#N/A

Highest Turnover

101

100

Close

Close

% Chg.

0.09

0.0%

0.49

2.5%

ITHMR.BSE Ithmaar Bank

0.11

5.0%

0.61 -

N National Bank of Bahrain

7,190

AUB.BSE

B Bahrain Islamic Bank

1,936

#N/A

Ahli United Bank #N/A

#N/A

#N/A

Bahrain SE

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (BHD '000)

Volume ('000)

52-Week High

% Change

Low

on high

YTD

12 mths

Market Cap. (BHD '000)

Trailing PE

PB

A Ahli United Bank*

0.610

-

-

-

-

-

0.680

0.599

-10.3%

1.2%

-3.9%

3,192,469

10.3

1.3

B Albaraka Banking Grp.*

0.930

-

-

-

-

-

1.089

0.857

-14.6%

-0.4%

-14.6%

943,462

8.0

0.8

A Arab Banking Corp.*

0.420

-

-

-

-

0.530

0.420

-20.8%

0.0%

-26.3%

1,306,200

6.4

0.4

B Bahrain Islamic Bank

0.088

0.0%

0.088

0.088

2

22

0.116

0.082

-24.1%

-2.2%

-24.1%

82,691

nmf

0.8

B Bahrain Telecommunications Co.

0.486

2.5%

0.486

0.476

56

115

0.488

0.380

-0.4%

24.0%

-0.4%

699,840

8.7

1.4

B BBK

0.400

0.0%

0.400

0.400

46

114

0.428

0.390

-6.5%

-3.4%

-6.5%

340,542

10.6

1.4

797

-

-

-

797

797

0.0%

0.0%

-30.0%

637,560

4.5

0.6

IT Ithmaar Bank*

0.105

5.0%

0.110

0.105

33

305

0.105

0.065

0.0%

61.5%

5.0%

281,165

nmf

0.5

N National Bank of Bahrain

0.550

0.0%

0.550

0.540

7

13

0.600

0.540

0.0%

0.0%

0.0%

470,448

10.3

1.7

U United Gulf Bank

0.304

-

-

-

0.424

0.270

-28.3%

1.3%

-25.1%

253,707

nmf

1.2

IN Investcorp Bank*

* Closing Prices, Turnover and Market Cap. in USD

-

-

-

-

-

LIFE

Touch, sing and play with baby It’s important for parents and their newborn infants to bond. While the process sometimes seems to occur naturally, it often takes lots of time and effort. The Nemours Foundation suggests how to help parents bond with a new baby: •Cradle the infant and gently stroke him or her using different hand movements.

•Sing songs and read to your baby.

•Mimic baby’s movements and vocal sounds.

•Let baby feel your face.

•Carry baby in a front carrier while you’re engaged in normal activities.

friDAY, april 20, 2012

Transplanted cells allow mice with night blindness to see in dark The light-sensitive rod cells partially restored the sight of mice born with night blindness

LONDON: Scientists have improved the eyesight of mice born with night blindness by injecting healthy lightsensitive cells into their retinas according to The Guardian.

The work is the first demonstration that cell transplants can restore useful vision.

Injections of the cells produced only modest changes in the animals’ eyesight, but the results have raised hopes that a similar therapy might one day help reverse some forms of human blindness, such as age-related macular degeneration, the most common cause of blindness, which affects up to 15% of people over 75.

In the study, researchers at University College London’s Institute of Ophthalmology injected the precursors of lightsensitive cells - taken from newborn mice - into the eyes of adult mice with a genetic form of night blindness.

Each jab delivered around 200,000 photoreceptor cells, of which 20,000 to 30,000 attached to the animals’ retinas and made working neural connections. Despite the newly wired-up cells accounting for less than one percent of the rods in the retinas, the mice still showed an improvement in eyesight. “This is the first proof of principle for restoring vision by transplanting photoreceptor cells. Until now it’s been assumed, and hoped for, but not actually proven,” said

FILE - Transplanted light-detecting eye cells (seen here in green) can integrate with other eye cells and make functional connections to the brain. (Agencies)

Dr Rachael Pearson, a neuroscientist at the institute, who led the study published in Nature.

The retina contains two broad kinds of light sensitive cells, rods and cones. In mice - and humans - more than

Eating meat supported early human population growth NEW YORK: Humans’ meat-eating habits help separate them from other great apes, new research suggests according to LiveScience. A meat-heavy diet lets people wean younger babies and have more offspring, which may have contributed to the population explosion, the researchers say.

Because human females wean their young so quickly, they “can potentially contribute a larger number of individuals to the human population during their reproductive years,” study researcher Elia Psouni, an associate professor at Lund University in Sweden, told LiveScience. “We are suggesting that this has had a very big impact on the survival and spreading of the species and the way it happened.”

Studies of “reproductively natural” populations (that is, societies that don’t use birth control) showed that mothers stop giving breast milk to their baby when the baby reaches about 2 years and 4 months of age.

That surprised the researchers, since other great apes take about four times as long to wean their offspring (proportionate to their maximum lifespans).

These other apes have diets dominated by fruits, vegetables and other plant materials. Chimpanzees, humans’ closest living ancestors, get only about 5 percent of their calories from meat, compared with about 20 percent for humans.

Weaning willingly

To find out if this dietary shift is important in determining weaning age, researchers compared the developmental characteristics of 67 different mammals. With

computer models and other analyses, they found that, together, body size, brain size and diet accounted for about 90 percent of the reasons for time of weaning.

The young of all mammal species stop suckling when their brains reach a specific developmental stage, the researchers said, and this stage seems to come earlier in carnivores (species for which at least 20 percent of their calories come from meat).

“We are much more used to thinking of humans as aligned with other great apes in many aspects,” Psouni said. In this instance, though, “the pattern is one where humans ought to be put together with tigers and killer whales - all these animals wean their offspring sooner.”

95% are rods. These work well in the dark and are good at spotting movement, but see the world in black and white.

Cones are far less numerous, but give a sharp, colour view of the world in good lighting conditions.

Science lacking on whether death penalty deters murder

PARIS: Scientific research to date provides no useful conclusion on whether the death penalty reduces or boosts the murder rate, said a report by the US National Academy of Sciences on Wednesday.

A committee of scientists reviewed research done over the past 35 years and found it was “not informative about whether capital punishment decreases, increases, or has no effect on homicide rates,” said the report.

“Consequently, claims that research demonstrates that capital punishment decreases or increases the homicide rate by a specified amount or has no effect on the homicide rate should not influence policy judgments.”

The report was issued by the NAS’s National Research Council, which convened a Committee on Deterrence and the Death Penalty to look at available evidence on how the death penalty may affect murder rates.

A previous report by the NRC in 1978 found that “available studies provide no use-

ful evidence on the deterrent effect of capital punishment.” In the decades since that report, “a considerable number” of studies have attempted to judge how well it works, or does not, and have reached “widely varying conclusions,” the latest report said.

“Fundamental flaws in the research we reviewed make it of no use in answering the question of whether the death penalty affects homicide rates,” said Daniel Nagin, professor of public policy and statistics at Carnegie Mellon University and chair of the committee that wrote the report. “We recognize that this conclusion may be controversial to some, but no one is well-served by unsupportable claims about the effect of the death penalty, regardless of whether the claim is that the death penalty deters homicides, has no effect on homicide rates or actually increases homicides.”

Until now, a key flaw in the research has been the failure to account for how punishments such as life in prison without the pos-

More babies

It doesn’t matter if meat is cooked or not, Psouni said, since the same early-weaning trend is seen in lions, tigers and killer whales. The confusion about humans weaning “early” really only comes about when you compare humans with other great apes, species that aren’t carnivorous.

The researchers think this younger-age weaning could have helped humans spread throughout the world. A quicker age to weaning means a woman can have more children throughout her lifetime.

“The access to a diet that is rich with animal protein is what makes it possible for that species to [over many generations] shorten the time between births,” Psouni said.”You wean faster, you can become pregnant faster and give birth to more offspring.”

Researchers repair damage caused by heart attacks in mice

CONNECTICUT: Scientists report they were able to repair mouse hearts that were damaged by heart attacks according to HealthDay News.

Researchers from the Gladstone Institutes successfully converted scar tissue in the mice into beating heart muscle. Their findings, they said, might eventually lead to a similar treatment for people who’ve had heart attacks.

“The damage from a heart attack is typically permanent because heart-muscle cells -- deprived of oxygen during the attack -- die and scar tissue forms,” Dr. Deepak Srivastava, who directs cardiovascular and stem cell research at Gladstone, a nonprofit biomedical research institution, said in a Gladstone news release. “But our experiments in mice are a proof of concept that we can reprogram non-beating cells directly into fully functional, beating heart cells -- offering an innovative and less invasive way to restore heart function after a heart attack.”

In conducting the study, the researchers delivered three genes, known as GMT, involved in embryonic heart development directly into the damaged areas of the mouse hearts. They found the non-beating scar tissue was transformed into beating heart muscle within one month. The heart function of the mice improved even more after three months, the study added.

“These findings could have a significant impact on heart-failure patients -whose damaged hearts make it difficult for them to engage in normal activities like walking up a flight of stairs,” Li Qian, a postdoctoral scholar, who is also a California Institute for Regenerative Medicine postdoctoral scholar and a Roddenberry Fellow, said in the news release. “This research may result in a much-needed alternative to heart transplants -- for which donors are extremely limited. And because we are reprogramming cells directly in the heart, we eliminate the need to surgically implant cells that were created in a petri dish.”

The next step, the study authors noted, is to duplicate their research and test its safety in larger mammals, such as pigs. This will bring the scientists one step closer to testing this type of treatment in people.

“We hope that our research will lay the foundation for initiating cardiac repair soon after a heart attack -- perhaps even when the patient arrives in the emergency room,” said Srivastava, who is also a professor at the University of California, San Francisco, with which Gladstone is affiliated.

In the future, the scientists say they hope this type of direct reprogramming will be used to also treat spinal cord injury and illnesses such as Alzheimer’s and Parkinson’s disease.

While the findings of the new study are promising, scientists note that research involving animals often fails to produce similar results in humans.

The scientists used only rods in the latest experiments, as they are easier to transplant, but they are now pushing ahead with plans to repeat the work with cone cells. In humans, around 200,000 cones are concentrated in a small, central part of the retina called the fovea. In a series of tests, including one that measured the animals’ ability to distinguish varying shades of grey, and another that timed how quickly mice found a submerged platform in a water tank under low lighting conditions, the animals’ vision was 1020% as good as healthy mice. The animals that performed best had the most newly connected rod cells.

Untreated, the mice were effectively blind in dim light.

“Now we’ve discovered we can restore vision, it gives us impetus to go on and make the process better,” said Prof Robin Ali, a senior author on the study.

Scientists need to clear several major hurdles before considering rod and cone transplants for human clinical trials.

One crucial step is to make suitable donor cells, either from established stores of embryonic stem cells, or by converting patients’ skin cells into photoreceptor cells. Another question is whether donor cells last for long when transplanted, or are rejected by the body’s immune system.

“Although the work is done in animals and transplanted cells are isolated from newborn pups, the study is a proof of concept that photoreceptor transplantation is a feasible therapeutic strategy. Ideally, photoreceptors used for transplantation would be differentiated from pluripotent stem cells and it may take some time to do that successfully on a large scale,” said Dusko Ilic, a stem cell scientist at Kings College London.

Anxiety linked to smarts in brain study

CONNECTICUT: Worrying may have co-evolved with intelligence as an important survival trait in humans, new research suggests according to HealthDay News. For the study, researchers looked at 26 people with generalized anxiety disorder and compared them to a group of 18 healthy volunteers without the disorder. The investigators found that both worry and high intelligence were associated with brain activity measured by the depletion of the nutrient choline in the brain’s white matter.

This suggests that worry may have co-evolved with intelligence, said Dr. Jeremy Coplan, a professor of psychiatry at the State University of New York Downstate Medical Center in New York City. “While excessive worry is generally seen as a negative trait and high intelligence as a positive one, worry may cause our species to avoid dangerous situations, regardless of how remote a possibility they may be,” Coplan said in a center news release.

“In essence, worry may make people ‘take no chances,’ and such people may have higher survival rates. Thus, like intelligence, worry may confer a benefit upon the species,” he added.

Magnetic rod reduces need for surgery to straighten spine

PARIS: A new magnetic back-straightening rod holds promise for treating children born with curved spines without the need for six-monthly surgery, researchers in Hong Kong said Thursday. At present, straightening rods fixed to the spine have to be lengthened on an operating table under general anesthesia every six months to keep pace with the child’s growth. The researchers replaced these with a new type of magnetically-adjustable rod in five children aged five to 14 being treated for scoliosis, a curvature of the spine, at the Duchess of Kent Children’s Hospital in Hong Kong. During monthly clinic visits over two years, the rods were manipulated with an external, hand-held magnetic device placed over the implanted, internal magnet, said the study published in The Lancet medical journal. A rotating mechanism within the rod caused it to extend and thus lengthen the spine.

“Our finding is that the rod can be remotely extended and the big advantage of this remote extension of the rod is that the patient does not need to undergo general anaesthaesia,” study member Kenneth Cheung of the University of Hong Kong told AFP. “They basically come back to our clinic once every month and we spend 30 seconds just to extend the rod and the patient can go back to school.”

About three percent of all people suffer from scoliosis, and some 0.1 percent require straightening treatment, said Cheung.

Traditionally, doctors used screws and rods to straighten the spine of scoliosis patients and keep it in place, but in small children this hampered their growth.

The extendable rod has been in use for about five to 10 years, said Cheung.

A large-scale trial is being planned to see whether the prototype treatment is safe and effective. -AFP

sibility of parole may affect homicide rates.

Also, a number of assumptions have hobbled previous studies, particularly by assuming that potential murderers actually consider the risk of execution and respond accordingly.

Instead, researchers going forward must perform more rigorous studies that assess how potential criminals view the death penalty and its likely effect on their actions, the report said.

Better methods for future research include collecting data that consider both capital and non-capital punishments for murder and doing studies on how potential murderers perceive a range of punishments in homicide cases, it said.

Just 15 percent of people who have received the death sentence since 1976 have been executed, “and a large fraction of death sentences are reversed,” added the report.

The members did not examine the moral arguments for or against capital punishment, or the costs involved. -AFP

Mysterious ‘dark matter’ even weirder: astronomers WASHINGTON: A new study has found no trace of the mysterious substance known as dark matter around the sun, adding a twist to current theories, researchers say according to SPACE. Dark matter is one of the greatest cosmic mysteries of our time - an invisible, intangible material thought to make up fivesixths of all matter in the universe. Scientists currently think it is composed of a new type of particle, one that interacts normally with gravity but only very weakly with all the other known forces of the universe. As such, dark matter is detectable only via the gravitational pull it generates.

Astronomers first proposed the existence of dark matter to explain why stars moved the way they did in the Milky Way. It was as if extra matter was present, exerting a gravitational pull that influenced the motions of the stars. According to widely accepted theories, the neighborhood around the sun should be filled with dark matter, with billions of these particles rushing through us every second.

However, the most accurate study yet of motions of stars in the Milky Way now has found no evidence for dark matter in a large volume around the sun.

“Our results contradict the currently accepted models - the mystery of dark matter has just become even more mysterious,” said study lead author Christian Moni Bidin, an astronomer at the University of Concepción in Chile. The scientists used telescopes at the La Silla Observatory and the Las Campanas Observatory, both in Chile, to map the motions of more than 400 red giant stars up to 13,000 light-years from the sun. This helped calculate the mass of material in the vicinity of the sun, in a volume four times larger than ever considered before.

“The amount of mass that we derive matches very well with what we see - stars, dust and gas - in the region around the sun,” Moni Bidin said. “But this leaves no room for the extra material - dark matter - that we were expecting. Our calculations show that it should have shown up very clearly in our measurements. But it was just not there!”

Dark matter models had predicted there should be about 0.9 to 2.2 pounds (0.4 to 1 kilograms) of dark matter in a volume the size of the Earth in the sun’s part of the galaxy.

However, these new findings suggest there is at most 0.15 pounds (70 grams) of dark matter in that volume in our part of the Milky Way galaxy.

“Despite the new results, the Milky Way certainly rotates much faster than the visible

FILE - This NASA handout image received in 2007 shows a dark matter ring in a galaxy center. (AFP)

matter alone can account for, so if dark matter is not present where we expected it, a new solution for the missing mass problem must be found,” Moni Bidin said.

The findings could explain why all attempts to detect dark matter in laboratories on Earth have failed so far - there is much less of it in the sun’s neighborhood than expected.

“Strictly speaking, the results do not say that dark matter does not exist - they only say it is not here,” Moni Bidin told SPACE.com. “We have not proven that dark matter does not exist, and even if we do, at this point we cannot explain many other phenomena that today are explained only by dark matter.”

One alternative to dark matter is known as Modified Newtonian Dynamics, or MOND, which tweaks how gravity works at large scales to help explain the motions of stars and galaxies that researchers observe. However, “to my knowledge, MOND also would have expected a massive ‘phantom disk’ to appear in our study, so our results should contradict its expectations, too,” Moni Bidin said.

Future astronomical surveys, such as the European Space Agency’s Gaia mission, could help shed further light on dark matter, Moni Bidin said. Gaia will collect data to reconstruct the movement of millions of stars.

“Thus, we will be able to test the presence of dark matter in a wide region of the galaxy,” he explained.

16

ALWATAN DAILY

CULTURE

friDAY, april 20, 2012

REUSE 5.0 aims to promote eco-friendly living in Kuwait

Staff Writer

Some of the works on display on the ACK campus on April 18, 2012. (Al Watan Daily)

KUWAIT: Constructed on a 5000 square meter parking lot on ACK’s campus, REUSE 5.0 was declared open on April 18, 2012, under the patronage of Dr. Yousef Al-Ebraheem, advisor to Al-Diwan Al-Amiri and The en.v Initiative. “I am honored to have launched REUSE 5.0 under the patronage of Dr Yousef Al-Ebraheem, as well as esteemed partners such as Zain and Kharafi National amongst others. Seeing one year’s worth of planning and organization come to fruition was a deeply gratifying experience. With the support of young eco-friendly creatives, youth, and organizations, we are ever more inspired to continue to promote social responsibility in Kuwait for a better tomorrow,” said Zahed Sultan of The en.v Initiative to Al Watan Daily.

Abdulwahab Al-Ghanim of The en.v Initiative also expressed great pleasure at the turnout received at REUSE 5.0. “There are about 80 stalls set up here with more than 150 participants. We are expecting a lot of spectators over the next few days, and everyone has really given their best shot.”

The Director of Student Affairs of ACK also added that “it was overwhelmingly pleasing to see the participation of the youth and it’s a great pleasure for ACK to host REUSE two years in a row.”

REUSE, now in its fifth year, serves as an opportunity for non-profit organizations, companies, professionals and aspiring creative talents to showcase their accomplishments in the fields of social responsibility and sustainability via a range of artistic mediums

made from scraps of materials picked up from various tailors. “It’s called Tutti Frutti and precisely so. There’s also a stand for books made entirely from paper, giving the impression of a tree with big flowers.”

Another stall at the entrance sold 100 percent hand made products, everything from bags to furniture. “These are all come from the South of France and we are the only agent in the Middle East,” explained Hanouf AlJuhail to Al Watan Daily. “What you see here is all made by laborers in poor countries who need work. I sold the first shipment in less than three weeks last year, and a portion of the proceeds are given to charitable organizations in Kuwait.”

Al-Juhail, a sociologist who cares deeply about the environment insists that this is the perfect place to initiate her ideas. “I lost my younger sister to cancer a while ago, and since then I have been eager to start something where we can have an art studio, performances, lectures and people sit can sit down and cook ideas. Inshallah, it will happen soon.

People are always asking me to open a store with these products as well. All of the things you see here have a story to them; some of them have been made by sweet old tribal women.”

One of the stalls had an inspirational quote pegged on their wall that encapsulated REUSE’s motto “Our lives begin to end the day we become silent about things that matter”--Martin Luther King.

REUSE is being held from April 19-22 on the ACK premises from 5 p.m. - 9 p.m. daily.

Onilda Fernandes

and interactive activities for the general public.

A sweeping glance around the property will take in colorful bags, beautiful artwork, organic toiletries, paintings, eco-fashion and various other artifacts all for sale over the next three days with a center traditional seating area-the diwaniya-aiming to promote dialogue and conversation amongst attendees and participants. Stacks of newspapers had been positioned by the entrance along with supermarket trolleys and an old car that was converted to form seats.

Students from different schools and universities showcased artwork made from cushions, car seats, paperclips, clothespins, newspapers, CDs, aluminum foil, light bulbs,

dried dough, feathers, chilies, coasters, shells, toothpaste, bottle caps, magazines, all items that would generally be regarded as trash in one’s own home had been put to much greater use with a touch of beauty to them.

REUSE 5.0’s primary objective is to creatively communicate to the Kuwaiti community the importance and benefits of recycling and reducing waste while emphasizing the magnitude of everyone’s role in preserving our surroundings and community for future generations.

Bashayer Al-Shamari, a graduate who belongs to the group ARTRONAUTS had a beautiful Michael Jackson artwork on display, painted entirely on egg cartons. “I have always been interested in pixel art but that’s

Author tracks tales of India’s techni-color youth NEW DELHI: A scriptwriter living with his girlfriend in Mumbai is put on the spot when the disapproving parents turn up. A doomed call centre worker lives in a cloud of numbing drug addiction financed by his high salary. These are just a few of the lives chronicled by author Palash Krishna Mehrotra in his non-fictional account of the changes that have swept over India over the last three decades, specifically how the lives of its youth have changed.“I thought it would be interesting to write a book about the youth in the 80s, about a journey from socialism to capitalism and all the changes that came about,” he told Reuters.

“I wanted to write from the perspective of someone who has been here all throughout, grew up here and how we reconcile these two worlds - the one we grew up in, and the world we came of age in.”

The result was “The Butterfly Generation: A Personal Journey into the Passions and Follies of India’s Technicolor Youth,” the second book by Mehrotra, who at 36 falls straight into the age group he is portraying. At the start of the period chronicled in the book, India was opening to Western markets, bringing about a stronger economy that led to a technological revolution.

Socially, people began moving away from traditional elite careers of medicine and engineering, experimenting with the humanities and the arts. Youth culture began to come to the fore as control by family elders weakened.

“People living on their own, new jobs, (the) single life. All this has happened in the last ten to 15 years,” he said, adding that he tried to avoid a preachy tone.

“What this generation ought to do and ought not

to do was never part of my agenda. This is an important segment of society, a section of a generation which I identify with.” This is the first generation that grew up with MTV, which was an instant hit with those who had access to it. Then the call centers arrived, luring many of the same young people in with the high salaries those multinational firms offered.The fast money led some to fall prey to drugs, such as one call centre employee, referred to only as Bobby Brown, whose addiction ended his life. Mehrotra aimed at variety for his profiles, from a corporate lawyer in Mumbai who looks up traditional Indian recipes online to an auto rickshaw driver who makes money by supplying rich Indian boys at boarding school with junk food and pizza.

“I was also trying to move away from the software engineers, trying to get some unusual stories. Things they couldn’t have done 15 years ago,” he said.

“I was not interested in the office hours. What happens in the bedroom, the relationships they have, do they go to karaoke bars, etcetera.”

In the old days, when dating in general was frowned on by conservative society, shopping malls helped legitimize romance since spending time together in parks could have led to harassment from the police. One of the biggest changes he sees is that young people these days are less touchy about where they come from and take things much less seriously, giving as an example a Sikh musician and singer who isn’t afraid of writing songs that poke fun at his own community. “There are no more sacred cows,” he said. “This generation is more self-assured and willing to challenge things.” -Reuters

done on the computer. When the offer for REUSE came about, I started thinking and decided that egg cartons have the perfect size to do what I have in mind. It took me about two months to achieve what you see here as I work on it a little by little,” explained AlShammari to Al Watan Daily.

ARTRONAUTS is a group of young designers from different countries who have got together in Kuwait to spread awareness about the environment and design. Not surprisingly then, REUSE was the perfect platform to showcase their work. “It’s the first time we have gone pubic so we are really excited,” shared Al-Shammari.

Her colleagues Muneera Al-Safran pointed out curtains and photo frames that were

Thousands of youth remember Holocaust at Auschwitz WARSAW, Poland: Thousands of youth from Israel, the United States and other countries marched Thursday between Auschwitz and Birkenau, the two parts of Nazi Germany’s most notorious death complex, to honor the millions killed in the Holocaust.

Also Thursday, Polish officials and members of the Jewish community gathered in Warsaw to mark the 69th anniversary of the start of the Warsaw Ghetto Uprising, the doomed revolt that a group of Jews waged against the Nazis in 1943.

An estimated 10,000 young people, some carrying Israeli flags or wearing them draped around their shoulders, took part in the March of the Living in Oswiecim, a town in southern Poland where the Germans operated Auschwitz during World War II. The event, which takes place every year on Holocaust Remembrance Day, involves a walk of two miles (three kilometers) from Auschwitz to Birkenau, where Hitler’s men executed Jews, Roma and others in huge numbers in gas chambers.

The participants were joined by a handful of Holocaust survivors and American military veterans who helped liberate several other death camps at the end of World War II. Auschwitz-Birkenau was liberated by Soviet troops in January 1945, in the closing months of the war as Germany faced defeat. -AP

Members of Warsaw’s Jewish community, and city officials and others gather to mark the 69th anniversary of the doomed Warsaw Ghetto Uprising, in Warsaw, Poland, on Thursday, April 19, 2012. (AP)

Reluctant heiress jewels sell for $21 million at auction

Antonio Manfredi, director of the Museum of Contemporary Art (CAM) looks at an artwork by French artist Severine Bourguignon burning during a protest at the CAM in Casoria on April 17, 2012. An Italian museum today began burning its collection of contemporary artworks in a singular protest against harsh budget cuts that have left many cultural institutions out of pocket. The Casoria Contemporary Art Museum near Naples held a bonfire in its grounds for the first torching of a painting by French artist Severine Bourguignon, who was in favor of the protest and followed it on Skype. He plans to burn three art works a week in an initiative dubbed “Art War.” (AFP)

NEWYORK: Jewels belonging to Huguette Clark, who was dubbed the “reluctant heiress” after choosing to spend her final years living in hospitals instead of her lavish homes, sold for $21 million at auction.

A rare 9-carat pink diamond ring that fetched more than $15 million, nearly twice its high pre-sale estimate, was the top item in the sale at Christie’s on Tuesday which had been expected to total about $10 million.Known as “The Clark Pink,” the ring set a new auction record for the most valuable pink diamond sold in the United States. The buyer was US diamond, gem and jewelry special Brett Stettner of Stettner Investment Diamonds, according to Christie’s. “The entire collection, which has fascinated collectors and press worldwide, achieved a total of $20.8 million,” said Rahul Kadakia, Christie’s Americas’ head of jewelry. “This is the second most valuable private collection sold in the United States in the last decade, just behind the legendary jewels of Elizabeth Taylor.”

When the sale was announced last month, Kadakia spoke about the iconic Art Deco design and exceptional craftsmanship of the jewels and said they are emblematic of the great Gilded Age in American history.

The Clark jewels were offered as part of Christie’s magnificent jewels auction, which took in just over $70 million, with 95 percent of the 304 lots finding buyers. The top 10 lots, each commanding prices over $1 million, were snapped up by Asian, Middle Eastern, European and other international dealer and clients, as well as U.S.-based bidders.

Other highlights from the Clark collection included a 20-carat Dcolor diamond ring which sold for $3.1 million, beating its high estimate. Clark, who died last year at age 104, was heir to a copper, timber and railroad fortune and had no children. Married once briefly, she shunned the social limelight and trappings of wealth, preferring to focus on her doll collection, which is reportedly worth millions.

Christie’s said Clark’s collection was believed to have been stored in a bank vault since the 1940s. Her estate was valued at about $400 million when she died.

A rare 9-carat pink diamond ring, known as “the Clark Pink” and belonging to Huguette Clark is shown in this undated handout photo. (Reuters)

Her will stipulated the establishment of a foundation to promote and foster the arts, to be called the Bellosguardo Foundation after her 24-acre ocean-front home in Santa Barbara. Clark left nothing to any members of her family, but bequeathed millions to a nurse assigned to her in 1991 who became Clark’s closest companion. The will is being contested. -Reuters

ALWATAN DAILY

entertainment Song Of The Day

friDAY, april 20, 2012

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Dick Clark, TV and New Year’s Eve icon, dies

Fahad AlSabah Staff Writer

Song: A Little Respect (Erasure Cover) Artist: Kate Walsh Album: Peppermint Radio Genre: Folk In short: “A Little Respect” is one of Erasure’s singer tunes, the duo released the song in 1988 and went on to become a big success on both sides of Atlantic. Kate Walsh’s Peppermint Radio is a collection of covers of her favorites songs; she did Erasure justice by perfecting the song and making it truly her own.

To listen to the song visit www.alwatandaily.com E-mail your feedback to falsabah@alwatandaily.com

The Buzz Fake Bieber accused of abusing NJ girl online A Canadian man accused of posing as teen idol Justin Bieber and coaxing a young girl to perform sex acts online may have victims in up to five countries, authorities in Canada and the US said Wednesday. Lee Moir, 34, is already facing a slew of child pornography charges in connection with his alleged interactions with a 12-year-old girl from New Jersey, but officials in that state suspect his activities had a much wider scope. He is believed to have been in contact with young girls in Canada, Australia, France and the Philippines, she said, adding there have been no charges laid in connection with those alleged contacts. Moir is already facing a raft of charges in Canada since being arrested on April 4.Toronto police allege Moir impersonated Bieber - a pop sensation with a fiercely loyal following among teenage girls - and convinced a 12-year-old victim to film sexual acts on her web cam.Moir repeatedly threatened to harm the victim’s family and post her image to pornographic websites, police allege. None of the allegations have been proven in court.

Authorities say Moir was arrested while trying to meet up with an undercover Toronto police officer posing as a 14year-old girl. -AP

Diddy beats Jay-Z, as Forbes’ richest hip hop artist Rapper Sean “Diddy” Combs topped a list of hip hop’s wealthiest artists compiled by Forbes on Wednesday, beating out contemporaries Jay-Z, Dr. Dre, Birdman and 50 Cent.

Combs’ net worth was estimated at $550 million, including high returns from his investment in Ciroc vodka as well as clothing lines Sean John and Enyce, record label Bad Boy, marketing company Blue Flame and numerous tech startups. The “I’ll Be Missing You” rapper, 42, beat out hip hop mogul Shawn “Jay-Z” Carter, who came in at No. 2 with a net worth of $460 million. Carter, 42, who is married to R&B superstar Beyonce, continued to rake in substantial earnings from music and tours after signing a $150 million deal with concert promoters Live Nation in 2008, as well as investments in the New Jersey Nets basketball team, the 40/40 club chain and numerous other business ventures. The Forbes Five list is compiled by the publication’s editors after valuing current holdings, past earnings, financial documents and speaking to analysts and experts in the field. The full list of 2012’s wealthiest hip hop artists can be found on Forbes. com/forbesfive. -Reuters

Bachelor to be hit with race discrimination lawsuit A pair of African American men expect to file a lawsuit against ABC television and the producer of reality dating shows “The Bachelor” and “The Bachelorette” charging racial discrimination, attorneys said on Tuesday. The class action, to be filed in federal court on Wednesday, is being brought by two residents of Nashville, Tennessee who claim the popular shows intentionally exclude people of color. Nashville residents Nathaniel Claybrooks, an AllAmerican football player, and Christopher Johnson, an aspiring National Football League player, will claim that in the 10 years the shows have been on the air -- a combined 23 seasons -- neither has ever featured a person of color in a central role, according to a statement from the attorneys. They plan a news conference on Wednesday to discuss the legal action taken “on behalf of all persons of color who have applied for the role of the Bachelor or the Bachelorette but been denied the equal opportunity for selection on the basis of race.” The lawsuit will be filed against ABC television, Warner Horizon television, Next Entertainment, NZK Productions and Michael Fleiss, the executive producer of the “Bachelor” and “Bachelorette” franchises. -Reuters

Jon Stewart: Rosen made Republicans ‘pro-choice’ Jon Stewart says Hilary Rosen’s contention that multimillionaire mom Ann Romney “never worked a day in her life” has had the unexpected effect of making “the Republican Party pro-choice.” The criticism of Romney by Rosen, a Democratic strategist, led to a flood of Republicans making the point that motherhood is a full-time job -- and that Romney raised five boys. Romney herself made the point in a clip Stewart played on Monday’s “Daily Show.” “My career choice was to be a mother. And I think all of us need to know that we need to respect choices that women make,” she said.

Stewart threw up his hands. “Are you not entertained?” he asked. “Hilary Rosen just made the Republican Party prochoice!” -Reuters

FILE - In this Dec. 31, 2011 photo released by ABC, hosts Dick Clark (right) and Ryan Seacrest pose on the set of “Dick Clark’s New Year’s Rockin’ Eve with Ryan Seacrest 2012” in Times Square in New York. (AP)

LOS ANGELES: Dick Clark stood as an avatar of rock ‘n’ roll virtually from its birth and, until his death Wednesday at age 82, as a cultural touchstone for boomers and their grandkids alike.

His identity as “the world’s oldest teenager” became strained in recent years, as time and infirmity caught up with his enduring boyishness. But he owned New Year’s Eve after four decades hosting his annual telecast on ABC from Times Square. And as a producer and entertainment entrepreneur, he was a media titan: his Dick Clark Productions supplied movies, game shows, beauty contests and more to TV, and, for a time in the 1980s, he boasted programs on all three networks.

Equally comfortable chatting about music with Sam Cooke or bantering with Ed McMahon on “TV’s Bloopers and Practical Jokes,” Clark was listed among the Forbes 400 of wealthiest Americans. Clark, who died of a heart attack Wednesday at a Santa Monica hospital, also was part of radio as partner in the United Stations Radio Network, which provided programs - including Clark’s - to thousands of stations.

“There’s hardly any segment of the population that doesn’t see what I do,” Clark told The Associated Press in a 1985 interview. “It can be embarrassing. People come up to me and say, ‘I love your show,’ and I have no idea which one they’re talking about.”

One of his later TV projects, “American Dreams,” served as a fitting weekly tribute to Clark’s impact. Airing from 2002 to 2005, this NBC drama centered on a Philadelphia family in the early 1960s and, in particular, on 15-year-old Meg, who, through a quirk of fate, found her way onto the set of Clark’s teen dance show, “American Bandstand.”

The nostalgic “American Dreams” depicted a musical revolution, which Clark so reassuringly helped usher in against the backdrop of a nation in turmoil. President Barack Obama noted the nostalgia. “More important than his groundbreaking achievements was the way he made us feel - as young and vibrant and optimistic as he was,” Obama said in a statement. Clark bridged the rebellious new music scene and traditional show business. He defended pop artists and artistic freedom, the Rock and Roll Hall of Fame said in an online biography of the 1993 inductee.

He helped give black artists their due by playing original R&B recordings instead of cover

FILE - In this Dec. 31, 1996 file photo, Dick Clark broadcasts during New Year’s festivities from Times Square in New York. (AP)

Clark was honored at the Emmy Awards in 2006, telling the crowd: “I have accomplished my childhood dream, to be in show business.

Everybody should be so lucky to have their dreams come true. I’ve been truly blessed.”

About Dick Clark

FILE - In this Jan. 24, 1993 file photo, singer Michael Jackson and American Music Awards executive producer Dick Clark go over the script during rehearsals for The American Music Awards at the Shrine Auditorium in Los Angeles. (AP)

versions by white performers, and he condemned censorship.

He joined “American Bandstand” in 1956 after Bob Horn, who’d been the host since its 1952 debut, was fired. A year later, Clark integrated the show with black dancers.

“It still wasn’t acceptable for them to dance with white kids, so the blacks just danced with each other. We were waiting for the explosion, but it never happened,” Clark told Pennsylvania Heritage Magazine in 1998.

Under Clark’s guidance, “Bandstand” went from a local Philadelphia show to a national phenomenon, introducing stars from Buddy Holly to Madonna. It was one of network TV’s longest-running series as part of ABC’s daytime lineup from 1957 to 1987.

As a host, Clark had the smooth delivery of a seasoned radio announcer. As a producer, he had an ear for a hit record. He also knew how to make wary adults welcome this odd new breed of music in their homes.

Clark suffered a stroke in 2004 that affected his ability to speak and walk. That year, he missed his annual appearance on “Dick Clark’s New Year’s Rockin’ Eve.”

He returned the following year and, although his speech at times was difficult to understand, many praised his bravery, including other stroke victims.

“I’m just thankful I’m still able to enjoy this once-a-year treat,” he told The Associated Press by email in December 2008 as another New Year’s Eve approached.

Friends mourning

Ryan Seacrest, who subsequently took over main hosting duties on the countdown show from Clark, said in a statement Wednesday that he was “deeply saddened.” “I idolized him from the start,” Seacrest said. “He was a remarkable host and businessman and left a rich legacy to television audiences around the world.”

Friends on Wednesday recalled a patient, encouraging man. “He was there for every crisis of my life and there were many,” Connie Francis said in statement. “Without Dick Clark there would have been no career because I was ready to abandon it. Dick was the most principled man I ever met in this business and treated everyone the same way, even if you were the little guy.”

Cannes film festival unveils line-up PARIS: The Cannes film festival on Thursday unveils its pick of Hollywood giants and art house newcomers to compete at the world’s top movie showcase on the French Riviera next month.

Organizers will announce the 50-odd films awarded a slot at the May 16-27 event at a press conference in Paris, half of them in the official race for the Palme d’Or and half in the parallel new talent section, Un Certain Regard.

Cannes’ general delegate Thierry Fremaux selected the line-up from among some 1,700 submissions, from the biggest names in film right down to first-time directors from North America, Europe, Asia, Latin America or Africa.

Star-wise, Nicole Kidman is tipped to make a double appearance after Fremaux warned in an interview the Australian actress was “going to surprise us.” Kidman holds lead roles this year in two very different thrillers: “Stoker” by South Korea’s Park Chan-wook, and the 1960s-set “The Paperboy” by US director Lee Daniels.

The French press is betting on Marion Cotillard, star of three Cannes-tipped films: “Of Rust and Bone”

by Frenchman Jacques Audiard, “Low Life” by US director James Gray about an immigrant woman tricked into a life of burlesque, and Christopher Nolan’s new Batman movie, “The Dark Knight Rises”.

“On the Road” by the Brazilian Walter Salles is allbut-assured of a slot: based on the Jack Kerouac novel the movie stars Kirsten Dunst, Kristen Stewart and Viggo Mortensen.

David Cronenberg’s “Cosmopolis”, starring Robert Pattinson as a billionaire asset manager, is seen as a strong contender, as is Australia’s Andrew Dominik with the gangster flick “Killing Them Softly” starring Brad Pitt.

Austrian director Michael Haneke -- whose “The White Ribbon” won the 2009 Palme d’Or -- is seen as a likely choice with “Amour” (Love), starring Isabelle Huppert as a woman hit by a stroke.

Veteran Frenchman Alain Resnais, who will shortly turn 90, is expected to bring his new film “Vous n’avez encore rien vu” (You Haven’t Seen Nothing Yet).

And from Britain, Ken Loach -- who has brought 16 films to Cannes in the past -- could be in with “The

Thierry Fremaux, a general delegate of the 65th Cannes Film Festival, attends a news conference to announce the selection of competing films in Paris April 19, 2012. (Reuters)

Angel’s Share”, about an ex-offender on the mend.

This year’s jury is headed up by Italian director Nanni Moretti, who scooped a Palme d’Or for “La stanza del figlio” (“The Son’s Room”) in 2001 and who told AFP he would be “looking for films that are still able to surprise me.”

The jury for Un Certain Regard is to be chaired by the British actor and director Tim Roth. Berenice Bejo, co-star of the hit French silent movie “The Artist”, is to host the festival’s opening and closing ceremonies.

Wes Anderson’s 1960s teen love story “Moonrise Kingdom” will open the festival, while Claude Miller’s “Therese Desqueyroux” will close it, in a tribute to the French filmmaker who had barely finished editing the movie when he died this month aged 70. -AFP

He was born Richard Wagstaff Clark in Mount Vernon, NY, in 1929. His father, Richard Augustus Clark, was a sales manager who worked in radio. Clark idolized his athletic older brother, Bradley, who was killed in World War II. In his 1976 autobiography, “Rock, Roll & Remember,” Clark recalled how radio helped ease his loneliness and turned him into a fan of Steve Allen, Arthur Godfrey and other popular hosts.

Clark began his career in the mailroom of a Utica, NY, radio station in 1945. By age 26, he was a broadcasting veteran, with nine years’ experience on radio and TV stations in Syracuse and Utica, NY, and Philadelphia.

He held a bachelor’s degree from Syracuse University. While in Philadelphia, Clark befriended McMahon, who later credited Clark for introducing him to his future “Tonight Show” boss, Johnny Carson.

When Michael Jackson died in June 2009, Clark recalled working with him since he was a child, adding, “Of all the thousands of entertainers I have worked with, Michael was THE most outstanding. Many have tried and will try to copy him, but his talent will never be matched.”

Clark kept more than records spinning with his Dick Clark Productions. In 1974, at ABC’s request, Clark created the American Music Awards after the network lost the broadcast rights to the Grammy Awards.

Clark’s clean-cut image survived a music industry scandal. In 1960, during a congressional investigation of “payola,” or bribery in the record and radio industry, Clark was called on to testify. He was cleared of any suspicions but was required by ABC to divest himself of record-company interests to avoid any appearance of a conflict of interest.

He was diagnosed with type 2 diabetes in 1994 and served as spokesman for the American Association of Diabetes Educators.

Clark, twice divorced, had a son, Richard Augustus II, with first wife Barbara Mallery and two children, Duane and Cindy, with second wife Loretta Martin. He married Kari Wigton in 1977. -AP

Tribeca opens with comedy The Five-Year Engagement NEW YORK: Hollywood comedy “The Five-Year Engagement” opened New York’s Tribeca Film Festival on Wednesday bringing some crowd-pleasing laughs and red carpet glamour to the event before audiences settle into 12 days of mostly independent cinema.

The romance starring Jason Segel and Emily Blunt, made by the same team behind hit “Forgetting Sarah Marshall,” kicked off the festival which is entering its second decade with organizers promising a broad group of films from all regions of the world.

Segel and Blunt hit the red carpet for the movie in which they portray a couple discovering each other during a never-ending engagement. The film is directed by Nicholas Stoller, who co-wrote the script with Segel. The pair first teamed up with on the 2008 blockbuster “Marshall.”

“This is how inertia can destroy a relationship,” Stoller told Reuters. “They realize that they didn’t know each other quite as well as they thought. It’s about how an engagement can get in the way of a relationship.”

Compared to “Marshall,” the characters are slightly older and the male and female perspectives on love and relationships were equally represented, said Stoller. But his new film offers the same honesty as “Marshall” and “Get Him to the Greek,” which he also co-wrote with Segel.

On the red carpet, Segel described the movie as “a lean mean comedy machine,” and joked that, like his previous comedies, there were again plenty of scenes of himself nude in strange situations.

“Sadly, sadly there is, yes,” he said.

Blunt said another film in which she stars here at Tribeca, “Your Sister’s Sister,” is far different from the comedy opposite Segel, whom she described as a “good pal.”

“This is a big raucous comedy and the other one is a tiny movie all improvised, made for no money. We shot it in 12 days - there are very diverse, which at least is a good thing,” she said.

The film’s producer Judd Apatow, actress Olivia Wilde, comic actresses Amy Poehler and Julia Louis-Dreyfus, documentary maker Michael Moore, as well as the festival’s co-founder Robert De Niro also attended the opening, held not far from Central Park.

This year, Tribeca will screen 89 feature films split between 57 fiction and 32 documentaries, including 50 world premieres.

The festival will return to more bigger-budget Hollywood fare for its closing night film, the anticipated superhero blockbuster “The Avengers,” to be screened on April 28. -Reuters

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AROUND TOWN / TIME OUT

FRIDAY, APRIL 20, 2012

If you have an event you wish to include, please email: aroundtown@alwatandaily.com

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Starbucks reaffirms its commitment to communities with global month of service

KUWAIT: This April, Starbucks will be hosting a global month of service to highlight its continued goal in supporting youth and environmental initiatives in its local communities across markets worldwide.

Rana Shaheen, Regional Communications and CSR Manager at Starbucks MENA said: “For the past 41 years we have made it our mission to play a vital role in the communities in which we operate.

At Starbucks We demonstrate our mission and values by not only providing exceptional customer service inside our stores, but also by joining customers in community service outside our stores. This global month of service is a way for our partners and customers to join together as change makers to activate and elevate positive change in the communities where they live and work.”

As part of its ongoing wide range of initiatives through the Community Connections programme, Starbucks recently participated in several events in Kuwait aimed at providing support to the local communities.

In March 2012, Starbucks, Kuwait, with the aid of local students, renovated and painted classrooms

Month a t

at the Kuwait Autistic Centre and repaired the school ground at Abdul Latif Al Amar school. In addition, Starbucks helped in painting and decorating the Applied Behaviour Centre of Kuwait.

In December 2011, Starbucks extended its support to the Nuzha and Khawla Schools for girls in addition to GUST by planting trees and flowers, emphasizing the importance of a green and healthy environment. In addition, Starbucks supported the English School Fahaheel (ESF) in painting murals emphasizing the “Saving the Planet” message and decorated the Kuwait National School’s Basketball court.

Furthermore, Starbucks supported the Kuwait Autism Centre by renovating classrooms and providing stationary supplies.

In August 2011 and during the month of Ramadan, Starbucks hosted ‘Girgi’aan’ activities for children in Al Sabah Hospital, Hussain Makki Jumaa Cancer Centre for Children, Al Khorafi Special Needs Schools and the Autism Care Centre in Salwa.

In June 2011 Starbucks planted trees in Alshaya school for boys, and repainted and renovated a number of schools, such as Salah Shabab High School and Nuzha and Salmiya high schools for girls.

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a glance are mundane encounters of beauty that sprouted from the ego and surrounding events, creating emotions which dissolved into aesthetic visual messages.

Golden era club April 27/ 5 p.m. - 7 p.m./ Rumaithiya: Join the Golden Era (an exclusive seniors club) for a 3500 km, zero carbon footprint, journey to a beautiful European country credited with amazing achievements. Dr. Leos Tovarek’s dynamic presentation will give a unique insight into the Czech Republic; its history, culture, strengths, potential and future. Home sick Czech nationals are particularly invited to share their culture. Venue- House #34, next to AbuTammam Intermediate School for Boys, Sate Alhusari St., Block 2, Rumaithiya. For details call 97172788/ 66208183.

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

Marriage counseling session Diwaniya presentation April 24/ 7 p.m. / The AWARE Center: The AWARE Center cordially invites you to its diwaniya presentation entitled, “Beachcombing in Kuwait,” by Claudia Farkas Al-Rashoud. Virtually everyone who walks along a beach starts to collect odd bits and pieces that have been washed up and deposited along the strandline. On Kuwait’s beaches you can find many things that make beachcombing an interesting pastime. There are more than 500 varieties of mollusc shells alone. For more information, call 25335260/70.

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

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.

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.

Waist Watchers Every Tuesday/ 6 p.m. – 7 p.m. / British Ladies Society: Meetings are based on the world’s most successful healthy eating plan.

Weekly meetings include private weigh in, motivational talks, recipes to try, and cooking demonstrations. Fee of KD 2.500 is required to cover for the cost of course material. For more info contact; Danielle desertdanny@hotmail.com.

Dilbert

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

This is likely to be a day geared to fulfilling the needs of family. Lesser persons would resent the obligation, but not you, Aries. You have a nurturing spirit. As long as you feel appreciated, you’re happy to go the extra mile (or two). You can expect to feel loved by those around you. You have a willing, giving nature, and it shows in your aura like a beacon for all to see.

Taurus: April 20 - May 20

Guilt can be a powerful motivator, Taurus, but it isn’t a pure one. Today you could feel obligated to help a family member with something you’d prefer to take no part in. There are times, like this, when familial duty trumps personal desires. Do your best to be helpful and gracious even though it could be a trying time for you. You’ll feel good about yourself once it’s all done.

Gemini: May 21- June 21

Today you could feel overwhelmed with obligations and commitments to others. There isn’t a moment free for yourself, not even for a bathroom break!

Clearly, something’s out of balance, Gemini. It’s time to take charge of your life. It’s wonderful that you have such a giving, generous spirit.

Cancer: June 22 - July 22

Those who know the real you find your lack of confidence frustrating, Cancer. Your talents are startling to mere mortals, yet you rarely take credit for all your abilities. Today you get an opportunity to participate in a project that could make or break your career.You may hesitate, weigh your capabilities in your mind, and come up short.

Not only can you do this, you can do it better than anyone else!

Leo: July 23 - August 22

You may be in a quiet, reflective mood today, Leo. You could receive a communication from an old friend that sets you remembering the good old days of your youth. You can’t help but look at some of your pivotal decisions and wonder how your life would have been different had you made other choices. It’s pointless to play that game. Don’t wonder about “what if.” Embrace what you have.

Virgo: August 23 - September 22

Today, Virgo, forget socializing, working, and answering the phone. Stay home and cuddle in a blanket by the fire. Get out your old yearbooks or photo albums and have fun reflecting on good times from your past. Enjoy being quiet and still. Listen to the ticking of the clock and the wind outside.

Libra: September 23 - October 22

Don’t be surprised if neighbors come to your door asking for a favor - and not just to borrow a cup of sugar! While your initial response will be to say yes (it’s your nature, after all), think twice. This “favor” could involve a major time commitment. Is this what you want to do? You can put your needs ahead of your friends’ and still be a good neighbor. Don’t worry, they’ll understand.

Scorpio: October 23 - November 21

You’re likely to wake up today with a compulsion to clean or organize something, Scorpio. This may be rather unlike you. If we didn’t know better we’d say that you were feeling a parental urge, and your nesting instinct is kicking in. Indulge your domestic desires today. Tomorrow you’re probably going to be in quite a different frame of mind!

Sagittarius: November 22 - December 21

Today should be a “no holds barred” day as you strategize your next career move, Sagittarius. If you were in the army, you’d be a five-star general by now - your tactical sense is that good. Unfortunately, your office isn’t handing out stars. You’ll have to be satisfied with a raise and promotion - the least they can offer after all your hard work.

Capricorn: December 22 - January 19

Today might be largely devoted to household tasks, Capricorn. It isn’t exactly the most glamorous assignment, but you take a certain pleasure in attending to daily necessities. Pay some bills, throw in a few loads of laundry, do some yard work and cooking. Your partner or family will appreciate your efforts. It’s even more fun if it isn’t expected of you. And who knows? Maybe they’ll reciprocate.

Aquarius: January 20 - February 18

This is going to be a rather busy day for you, Aquarius, and you’re likely to love every minute of it. You can expect to meet many people as you go about your day. There will be side trips and detours that you weren’t anticipating, but they’re all the more delightful because of their spontaneity, like the unexpected lunch with a friend. Such stolen moments enrich your life.

Pisces: February 19 - March 20

You’ve been working hard lately and deserve the professional acclaim that comes your way, Pisces.

As a result of your efforts, it’s likely you’ve received or will soon receive a bonus, raise, or promotion of some kind. Celebrate, but just one night. If you let the party continue indefinitely, the bill could be too large even for you!

19

ALWATAN DAILY

SPORTS

friDAY, april 20, 2012

Basketball

Celtics dispel Magic to claim Atlantic crown BOSTON: Pierce expanded his role on an injury-depleted lineup and lifting them to a 10298 win over the Orlando Magic that clinched the Atlantic Division title. It came one night after he scored 43 points.

He did that with 7.6 seconds left with a 16footer from the right elbow. He sank it even though he slipped, giving the Celtics a 100-96 lead as the 24-second clock was about to expire.

For the second straight night he drove hard to the basket, repeatedly drawing fouls. He sank 17-of-18 free throws in a 118-110 loss to the New York Knicks on Tuesday night then made 11 of 12 against the Magic.

Boston (37-26) has a 3 1-2-game lead over New York (33-29). Both can end the regular season tied at 37-29, but the Celtics would finish first with a better conference record, the second tiebreaker behind head-to-head matchups.

Division winners are guaranteed to be seeded no worse than fourth in the conference and wouldn’t have to face Chicago or Miami in the first round. Avery Bradley started for Rondo and finished with 23 points. Brandon Bass added 21.

Glen Davis, starting in place of Dwight Howard, led Orlando with 27 points. Jameer Nelson had 19 points and nine assists.

Howard missed his sixth consecutive game

because of a herniated disc and the Magic missed his defense as the Celtics hit 54.3 percent of their shots.

The Magic cut a 91-78 lead to 91-90 on a layup by Nelson with 3:04 left. But they came no closer as Pierce and Ryan Anderson traded one free throw each. Pierce hit a short jumper in the lane, Bass caught Pierce’s shot that missed the rim and put in an easy layup and Kevin Garnett made a free throw for a 98-92 lead with 1:31 remaining.

But Orlando, sixth in the Eastern Conference at 36-26, fought back on baskets by J.J. Redick and Davis, making it 98-96 with 31 seconds to play. Pierce then hit his 16-footer. After a basket

by Nelson, Pierce sealed the victory with two free throws.

Trailing 67-59, Orlando scored the next nine points to take its first lead since 6-5. It stayed on top 70-69 before the Celtics finished the third quarter with a 10-0 run that gave them a 79-70 lead. Bass scored six points and Pierce had four in that comeback.

The Celtics led 33-22 after one quarter, starting the game with nine baskets on their first 11 shots. But the Magic cut that to 55-51 at halftime with the help of their 3-point baskets - three by Nelson and one by J.J. Redick. -AP

James gets 28, Heat roll past Raptors 96-72 MIAMI: James scored 28 points before taking the fourth quarter off, Mike Miller added 13 points and the Miami Heat continued tuning up for the postseason by pulling away in the second half to beat the Toronto Raptors 96-72 on Wednesday night. The Raptors tied a franchise-worst with 23 points in the second half - matching what they managed in a first half against Washington in 2003 - and Toronto coach Dwane Casey lauded Miami afterward.

Toronto led by as many as seven in the first half, then lost the lead after Miami outscored the Raptors 19-10 over the final 5:19 heading into the break. The last two of those Miami points were by far the most impressive.

As the Heat were trying to get what likely would have been the last quality shot of the half, Johnson stole the ball from Mario Chalmers, and Gary Forbes’ layup dropped through the net with 2.5 seconds left in the half to tie the game at 49-all. Plenty of time for Miami.

Miller grabbed the ball as it fell through the net and went into a three-step drop, much like a quarterback, and threw about a 70-foot pass intended for James - whose high school wide-receiver skills came in handy. James reached high with his right arm to make a one-handed catch near the 3-point line, whirled around to find both James Johnson and Amir Johnson in his path, dribbled once and laid the ball in just before the halftime horn sounded.

James said before the game that he’d like to get a game or two off before the playoffs start, if the race for seeding permits. The Raptors wouldn’t have minded Wednesday being one of those games. But James isn’t complaining that he was out there playing.

James made his first three shots of the third quarter making him 10 for 11, having converted nine straight to that point - with the last of those being a 3-pointer as the shot clock was expiring to make it 62-53. Miami outscored Toronto 23-11 in the third, and James found Juwan Howard for a basket late in the quarter that gave the Heat what was then their biggest lead at 74-58, a play the two-time MVP celebrated by punching the air at midcourt. -AP

Tennis

Andy Murray reaches quarterfinals in Monte Carlo MONACO: Andy Murray reached the quarterfinals of the Monte Carlo Masters after Julien Benneteau injured his ankle Thursday and retired near the end of a hard-fought first set with the score 6-5. Benneteau, a former French Open quarterfinalist, gave the third-seeded Murray problems throughout a set in which both players were aggressive. The Frenchman dictated many of the rallies, troubling Murray with some big forehands and driving him back with some stinging backhands.

But Benneteau, scampering to retrieve a shot from the baseline, slipped and rolled his right ankle. He also hurt his right wrist trying to break his fall. Benneteau received lengthy treatment and continued briefly before retiring.

Murray next pays sixth-seeded Tomas Berdych of the Czech Republic, who recovered from a shaky first set to beat No. 12 Kei Nishikori of Japan 2-6, 6-2, 6-4. Nishikori lost only two points on his serve in the first set and broke Berdych twice. Murray, meanwhile, struggled to hold his opening service game and then broke Benneteau. But the Frenchman broke straight back when Murray, who had saved four break points, hit a forehand wide on the fifth.

On the same center court days ago, Argentine player Juan Monaco also turned his ankle in an almost identical way to Benneteau, and had to pull out of his match against Dutchman Robin Haase. -AP

Andy Murray of Britain returns the ball during his match against Julien Benneteau of France during the Monte Carlo Masters in Monaco April 19, 2012. (Reuters)

CRICKET

Australia still eyeing victory in rain-hit test Miami Heat forward LeBron James (6) looks for an opening past Toronto Raptors center Solomon Alabi (50) and forward Ed Davis, during an NBA basketball game, April 18, 2012. (AP)

Formula one

Rosberg says repeat win asking a lot MANAMA: Nico Rosberg admitted on Thursday that he fears he will find it very difficult to maintain the supreme form which brought him a maiden victory in China last Sunday when he takes to the track for this weekend’s Bahrain Grand Prix. The 26-year-old German won for the first time in 111 races at Shanghai when he delivered the first triumph for Mercedes as a works team since the 1955 Italian Grand Prix. But he said he felt a repeat was unlikely at the Sakhir circuit this week where high temperatures and entirely different conditions could count against him. Speaking at a news conference in the media centre at the circuit, he told reporters: “This is a track I really enjoy. I have some very good memories here, but it’s difficult to know where we are going to be. “In Shanghai, we did very well, but previously we did have issues in the races, so it’s possible it could be a bit more difficult here. “I think the engineers have been making good

Boston Celtics forward Paul Pierce (34) drives to the basket against Orlando Magic guard J.J. Redick (7) during an NBA basketball game in Boston, Wednesday, April 18, 2012.

(AP)

progress.We are learning very quickly.We did a good job and got the best out of it over there, but the situation is different here with the temperatures and that might mean a bit more of a challenge.” Rosberg won by more than 20 seconds in China, after team-mate veteran compatriot and seven-times champion Michael Schumacher, 43, had been forced into early retirement from the race.

Rosberg also took his maiden pole position in Shanghai, ending world championship leader Briton Lewis Hamilton’s run of two poles from the start of the year. But Hamilton, who has looked strong and consistent this season for McLaren, said he was not worried and felt reassured by his more consistent form even if he had yet to win a race. The 27year-old Englishman has finished third in all three races so far to take top spot in the title race, two points ahead of his McLaren team-mate and countryman Jenson Button. -AFP

PORT OF SPAIN: Australia were confident they could still win the second test against West Indies despite losing most of the fourth day on Wednesday to rain. Australia’s hopes of pushing for a series-clinching victory were thwarted by a torrential storm at Queen’s Park Oval in Trinidad.

Most of the day was lost, leaving Australia 127 runs ahead with seven second innings wickets in hand.

With more showers forecast for Thursday, a draw was looming as the most likely result, which would be enough for Australia to retain the Frank Worrell Trophy after the tourists won last week’s first test in Barbados. But Australia opening batsman Ed Cowan said his team were not giving up hope of winning and may even be prepared to roll the dice and risk defeat to give themselves a chance of victory.

If the weather stays fine, Australia’s best chances of forcing a result would be to try and add another 100 runs before lunch then set up an early declaration that West Indies would be tempted to chase.West Indies fast bowler Kemar Roach, who captured all three Australian second innings wickets to take his total to eight for the match, said the home team would also press for a victory but the prospects were dim.

Roach has been the standout bowler for West Indies and once again provided the breakthroughs when his team needed them.

He dismissed David Warner and Shane Watson in his first over, knocking Watson’s off-stump out of the ground.“It was a good sight,” Roach said. “I really enjoyed that one obviously. Today would have been Malcolm Marshall’s 54th birthday so it’s a special day, I looked up to him as a bowler,” said Roach.

“Hopefully I’ll keep blasting through the top order.”

Roach removed Cowan for 20 before the rain washed out the rest of the day, just when the Australian was starting to

look dangerous. In four of his last six test innings, Cowan has seen good starts only to be dismissed between 20 and 35. “It’s frustrating to get through what’s the hardest time of batting and then to get out when the ball is getting softer,” he said.

“To grind out 20 doesn’t look but it still feels like you’ve given some contribution to the team, not just taken the shine off the ball for the other blokes. I feel like my game is in good order. There’s a big difference between being out of runs and out of form and I feel a little bit out of runs.” -Reuters

Australian cricket team (left) waits for ruling on appeal for lbw against West Indies batsman Kraigg Brathwaite during the second day of the second-of-three Test matches, April 16, 2012. (AFP)

High Court delays Bangladesh tour of Pakistan

Mercedes Formula One driver Nico Rosberg of Germany looks at the camera before the Chinese F1 Grand Prix at Shanghai International circuit April 15, 2012.

(Reuters)

DHAKA: Bangladesh’s cricket team will not go to Pakistan later this month after the Dhaka High Court upheld a legal challenge to the tour and ordered a four-week delay, a lawyer said on Thursday. Bangladesh had agreed to play a one-day international and a Twenty20 match on April 29 and 30 in what would have been the first full internationals in Pakistan since March 2009 when Sri Lankan cricketers and officials were attacked by gunmen in Lahore.

“The court by an order has restrained the Bangladesh government and the Bangladesh Cricket Board from going ahead with the national cricket team’s tour to Pakistan for four weeks,” said lawyer Hasan Azim, representing the two people who challenged the tour citing security concerns.

University lecturer Didarus Salam and a senior Supreme Court lawyer Kamal Hossain had jointly filed a petition in the Dhaka High Court earlier on Thursday, seeking an adjournment of the tour and asking why it should not be declared illegal. Foreign teams have shunned Pakistan since the 2009 attack, which killed six Pakistani policemen. Sev-

eral Sri Lankan players were wounded in the incident, which also led to matches at the 2011 World Cup being taken away from Pakistan. Since then, Pakistan have had to play their “home” matches at neutral venues. Pakistan officials said they were surprised and disappointed by Thursday’s court ruling. “We are surprised that a purely cricketing matter has been dragged into the courts,” PCB chairman Zaka Ashraf said. “We are deeply disappointed and sad that Bangladesh is not coming after confirming the tour last week.

“It is a big setback for Pakistan cricket and Pakistani cricket fans who were ready to welcome the Bangladesh team.” Ashraf said the PCB had made a comprehensive security plan for the tour and sent it to the International Cricket Council (ICC) for approval. “Everything was being put into place as far as security is concerned,” he said.

The PCB’s chief operating officer, Subhan Ahmed, told Reuters that if the four-week delay was enforced then Pakistan would not be able to host Bangladesh due to other commitments. -AFP

friday, april 20, 2012

SPORTS

Sports Editors Highlight ZURICH: FIFA has fined Oman after its fans forced a London Olympic qualifier to be stopped by hurling objects onto the field. FIFA says it ordered the Oman Football Association to pay $13,060 in fines and legal costs, and cautioned the Gulf state about fans’ future conduct.

Oman hosts Australia in June when Asian qualifying for the 2014 World Cup resumes. FIFA acted after fans disrupted Oman’s 3-0 loss against South Korea at Seeb Stadium on Feb. 22.

The match referee halted play for seven minutes while police restored order, and the field was cleared of fireworks and other debris. South Korea advanced to the 16-nation Olympic tournament. Oman faces Senegal in a playoff on Monday in Coventry, England. -AP

Football

Di Matteo seems a perfect match for rejuvenated Chelsea LONDON: Chelsea’s transformation from a team seemingly heading nowhere to one that is just 90 minutes away from the Champions League final means interim coach Roberto Di Matteo has emerged as the clear favorite to be handed the job permanently.

The 42-year-old’s astute tactics, mixed with plenty of luck and some resolute defending, secured a 1-0 win over reigning European champions Barcelona at Stamford Bridge in the first leg of their semi-final on Wednesday.

Despite Barca enjoying 72 percent possession and 19 attempts on goal, Chelsea’s victory, coupled with their 5-1 thrashing of London rivals Tottenham Hotspur in the FA Cup semi-final on Sunday, have put Di Matteo’s men within sight of two trophies.

Six weeks ago, under former coach Andre Villas-Boas, the only thing that looked like arriving at Stamford Bridge in May was a new broom to sweep away what the sacked Portuguese boss had regarded as dead wood.

Di Matteo took over on an interim basis on March 4 and immediately set

about restoring confidence and selfbelief, especially to some of the senior players who had publicly criticized Villas-Boas following a poor run of results.

The likes of Frank Lampard, 33, Didier Drogba, 34, captain John Terry, 31, Ashley Cole, 31, and out-of-form striker Fernando Torres all looked spent, with the former especially seemingly peripheral to Villas-Boas’s long-term plans.

However, former Chelsea midfielder Di Matteo offered a different approach.

He installed Lampard back in midfield, enthused Torres with a new-found belief which has seen him start scoring again, and restored a team spirit that had all but dissipated under Villas-Boas.

After Wednesday’s win, which came courtesy of a Drogba goal just before halftime, Di Matteo said: “In the past, a lot of people have had the opinion that our boys were over the line and too old to play at this level.

“It was not just Didier, but a lot of players in our squad, that they said couldn’t play two games in such a short period of time. They gave their answer

on the pitch.”

Since he took over, Chelsea have won 10, drawn two and lost just once in 13 matches but Di Matteo refuses to be drawn on his prospects of taking the job permanently.

Many experts predict that Barcelona will recover and reach the final in Munich next month, but even if they do, Chelsea’s billionaire Russian owner Roman Abramovich would be taking a huge gamble in replacing Di Matteo at the end of the season.

While it has been widely reported that Abramovich wants Barcelona’s manager Pep Guardiola to coach his side or some other “big name”, the Russian may have the answer to his dreams of winning the Champions League already in place.

That may happen this season but under Di Matteo, Chelsea are showing glimpses of the heights they touched when Jose Mourinho was manager and which brought them successive Premier League titles in 2005 and 2006. In many ways, Di Matteo does seem a perfect fit for Chelsea. -Reuters

Roberto Di Matteo, caretaker manager of Chelsea looks on with an injured John Terry during the Barclays Premier League match between Chelsea and Wigan Athletic, April 7, 2012. (AFP)

‘Clasico’ High Noon for Ronaldo and Messi Ruthless United primed for final assault

FC Barcelona’s Lionel Messi (left) duels for the ball against Real Madrid’s Cristiano Ronaldo, during their quarter-final, second leg, Copa del Rey soccer match, Jan. 25, 2012.

(AP)

MADRID: As well as a potential title decider, Saturday’s ‘Clasico’ between bitter rivals Real Madrid and Barcelona serves up the latest installment in the goalscoring drama featuring record-setting marksmen Cristiano Ronaldo and Lionel Messi.

Leaders Real have a four-point advantage over champions Barca with five games left ahead of the clash at the Nou Camp and Ronaldo and Messi have already netted a Spanish record 41 times each in La Liga this season.

Portuguese Ronaldo, who set the previous best of 40 last term, has 53 goals in all competitions, while Argentine Messi, the man who replaced him as World Player of the Year and has won the award the past three years, has 63, including 14 in the Champions League.

He is only four short of the all-time record of 67 set by former Bayern Munich striker Gerd Mueller in the 1972-73 season.

The latest domestic showdown between the world’s two richest clubs has an added significance in that Real and Barca could meet in next month’s Champions League final as Real seek a 10th European crown and holders Barca chase a third triumph in four years and their fifth overall. Both sides trail after their semifinal first legs, Real losing 2-1 at Bayern Munich and Barca

falling 1-0 to Chelsea in London.

Spanish league champions the past three years, Barca have already beaten Real over two legs in both the Spanish Super Cup and the King’s Cup this term and they came from a goal down to win 3-1 at the Bernabeu in La Liga in December.

Should they finish level on points, the title will be decided by head-to-head record not goal difference.

Their matches rarely pass without controversy, from accusations of refereeing bias to red cards to outright brawling. Jose Mourinho famously poked Barca assistant coach Tito Vilanova in the eye during a melee earlier this season.

With the combative Portuguese at the helm, hopes were high in Madrid that Real would be able to end Barca’s domination, although he has yet to find the magic touch that brought him so much success in Portugal, England and Italy.

“It’s going to be another enormously demanding game,” Emilio Butragueno, a former Real and Spain striker now a club director, said after Tuesday’s defeat at Bayern Munich. “The result could affect how the remaining four league games go,” he added. “Barcelona will present the greatest possible challenge and I hope we can find inspiration.” -AP

Raul to leave Schalke 04 at end of season

Raul Gonzalez of FC Schalke 04 waves at the end of the UEFA Europa League quarterfinal second leg match between Athletic Bilbao and FC Schalke 04 at San Mames Stadium, April 5, 2012. (AFP)

BERLIN: Schalke 04 forward Raul is to leave at the end of the season when his contract expires, the Bundesliga club said on Thursday. The 34-year-old former Real Madrid and Spain striker has been at the Gelsenkirchen club for two seasons, scoring 27 Bundesliga goals in 63 matches.

“He will explain his reasons for the move...and his plans for the future in due course,” the club said in a statement. German media reported that Raul could continue his career in Qatar.

Raul, whose international career ended in 2006, joined Schalke after he became surplus to requirements at Real Madrid, the club where he had been a talismanic figure. It was uncertain how well he would adapt to rainy, industrial Gelsenkirchen, where Schalke have an almost cult-like following, after the more refined surroundings of the Bernabeu.

He adapted well, however, scoring 13 goals in his first Bundesliga season and five more in the Champions League, taking his alltime tally in Europe’s top club competition to a record with 71 goals as Schalke reached the semifinals. He also won a German Cup winners’ medal, scoring once along the way.

He has continued to consistently find the net this term with 14 more goals in the Bundesliga, two in the Cup and four in the Europa League. In all, he has scored 39 goals for the Royal Blues. -AFP

LONDON: Like a vulture circling its fallen prey, Manchester United have the scent of another Premier League title in their nostrils with a fifth crown in the last six seasons just two wins away.

The equation is simple for Alex Ferguson’s side. Beat Everton at home on Sunday, then secure victory at local rivals Manchester City on April 30 and the Premier League silverware will remain safely locked in the Old Trafford trophy cabinet.

With four matches to play, United (82 points) hold a five- point lead over City (77), who face bottom side WolverhamptonWanderers later on Sunday and should at least remain in contention for another week to set up a crunch showdown on their own turf with their bitter rivals.

City manager Roberto Mancini has written off his side’s hopes of a first English title since 1968 but Ferguson predicted there would still be “twists and turns” after the weekend demolition of Aston Villa, saying experience told him that “there’s always something can bite you on the bum.” Forward Ashley Young said United needed to “finish the job” after they overhauled long-time leaders City in early March.

City’s recent drubbings of West Brom and Norwich, scoring 10 goals in the process, are evidence that they have far from thrown in the towel, and a rampant Carlos Tevez and Sergio Aguero will fancy their chances against a Wolves side eight points adrift of safety and looking doomed to relegation. The fight for Champions League places alongside the two Manchester

Manchester United’s Wayne Rooney (right) scores from the penalty spot during their English Premier League soccer match against Aston Villa at Old Trafford, April 15, 2012. (AFP)

clubs grows ever more intriguing.

Arsenal (64 points from 34) still have a grip on third place despite a surprise home defeat by Wigan on Monday but will need to quickly put that loss behind them when sixth-placed Chelsea (57 points from 33) visit at Saturday lunchtime.

Arsenal are set to be without playmaker Mikel Arteta after the Spaniard left the Emirates stadium on Monday in crutches and wearing a protective boot on his right foot after limping off early.

For Chelsea, who should still be on

a high after battling to a 1-0 Champions League semi-final first leg win over holders Barcelona, defender Branislav Ivanovic is suspended and David Luiz is out with a hamstring injury.

Tottenham Hotspur, in fourth, must quickly bounce back from last weekend’s 5-1 FA Cup semi-final thrashing by Chelsea, when they travel across London to face relegation-threatened Queen Park Rangers at Loftus Road on Saturday.

Spurs are level on 59 points with Newcastle United who host Stoke City. -Reuters

Lyon’s 12-year Champions League streak in danger PARIS: After 12 consecutive years in the Champions League, Olympique Lyon face the prospect of not playing in Europe’s premium club competition next season baring a spectacular turnaround starting against Lorient on Sunday.

The seven-times French champions are fourth in the standings, six points behind third-placed Lille, who occupy the Champions League qualifying spot and travel to Dijon on Saturday.

After falling at the third qualifying stage in the 1999/2000 season, Lyon have

put together a run of 12 straight years in the Champions League, reaching the semi-finals in 2010.

“I’d like to know what goes through my players’ mind but unfortunately I can’t,” Lyon coach Remi Garde said after his side lost 3-0 at Toulouse on Wednesday.

“As long as it’s mathematically possible, I can’t stop hoping. But if we continue to be mediocre, it will be tough.”

Lyon played poorly in their last two games. Last Saturday the suffered a 1-0

Olympique Lyonnais Bafetimbi Gomis (center) tries to score against Olympique de Marseille’s goalkeeper Steve Mandanda (left) during the French League Cup Final football match, April, 14. 2012. (AFP)

extra-time defeat against Olympique Marseille in the League Cup final.

While Garde said his side “lacked freshness”, playmaker Yoann Gourcuff called on everyone at the club to work together.

“The reaction must be collective,” he added. “Everyone, players and staff members, has to do some soul searching so we end the season nicely.”

Lyon will also be looking over their shoulder as fifth-placed Toulouse trail only on goal difference while Stade Rennes, who travel to Stade Brest on Saturday, are in sixth only two points adrift. Toulouse play at Evian Thonon Gaillard.

The fourth-placed team and French Cup winners secure Europa League spots.

Lyon play third division side Quevilly in the cup final on April 28 Leaders Montpellier will have the opportunity to put the pressure on secondplaced Paris St Germain, whom they lead by two points, when they host mid-table Valenciennes on Saturday.

PSG host strugglers Sochaux on Sunday and could be five points down at kickoff against a side that has not won at the Parc des Princes since 1990.

They will, however, not take anything for granted, especially after failing to beat bottom side AJ Auxerre last Sunday.

“We will have to be more motivated than they are,” fullback Christophe Jallet said of strugglers Sochaux. “We know it’s not a game that will be easy to deal with. We can see that we, as well as Montpellier, have had problems in this kind of games.” -AP