April 12, 2012 by Al Watan Daily

THURSDAY, APRIL 12, 2012

@alwatandaily

Issue No. 1402

20 PAGES

www.alwatandaily.com

150 Fils with IHT

Maximum remand period reduced to 24 hours

Detention to not exceed 7 days if preventing accused from escaping or affecting interrogation proceedings... Detainee allowed to appeal Mohammed Al-Salman & Mohammed Al-Khaldi Staff Writers

KUWAIT: In the first round of deliberations, the National Assembly on Wednesday approved Proceedings and Trials Law that stipulates that remand or provisional detention should be shortened. Under the new law, a detainee should not remain in detention for more than 24 hours without a written order from the investigator. If a prolonged detention is required to prevent the accused person from fleeing or affecting the proceedings from being influenced, a renewed remand can be ordered of not more than seven days. However, the detainee can appeal against the detention before the court. The head of the court can order renewed detention of the accused person for not more

than ten days anytime he is asked to do so. Nevertheless, the detention period should not exceed 37 days altogether, and no detention order can be issued without hearing the accused testimony. During a debate on the law, MP Falah Al-Sawagh affirmed that the Ministry of Interior has been abusive in many cases, and called on the government to uphold freedoms and urged the Parliament to speedily approve the amended remand law. MP Saleh Ashour argued that injustice will prevail unless such laws are amended, while MP Faisal Al-Yahya asserted that absolute power is corrupting. For his part, MP Abdulatiff Al-Omairi described remand as a farce and that it is applied in a moody manner depending on one’s connections locally known as (wasta). Commenting on the issue, MP Obeid Al-Wasmi affirmed that the amendment of the said law is urgent because it concerns liberties, whereas

Huge quakes off Indonesia stir panic

People riding motorbikes and cars packed the street in Banda Aceh after a strong earthquake struck Indonesia province April 11, 2012. An 8.6 magnitude earthquake struck off Indonesia on Wednesday, sending residents around the region scurrying from buildings and raising fears of a huge tsunami as in 2004, but authorities said there were no reports suggesting a major threat. (Reuters)

JAKARTA: An 8.7 magnitude earthquake struck off the coast of Indonesia on Wednesday, sending residents around the region dashing out of their homes and offices in fear. The Pacific Tsunami Warning Center said a tsunami watch was in effect for the entire Indian Ocean and individual countries, including Thailand, Indonesia, Sri Lanka and India, issued tsunami warnings. People near the coast in six Thai provinces were ordered to higher ground. The quake struck 308 miles southwest of the city of Banda Aceh, on the northern tip of Indonesia’s Sumatra island, at a depth of 20.5 miles, the US Geological survey said. Indonesia’s disaster management agency said power was down in Aceh province and people were gathering on high ground as sirens More on 5 warned of the danger.

MP Al-Damkhi argued that the existing remand law is out of step with the international law. In the same vein, MP Osama Al-Menawer described the existing remand law as a stick wielded by the government to usurp people’s dignity. Meanwhile, prominent opposition MP Musallam Al-Barrak pointed out that the decision to shorten remand period is a guarantee in light of attempts to “turn Kuwait into a police state” where people’s dignities are infringed. Meanwhile, a bill calling for tougher penalties against blasphemy is expected to trigger disagreements among lawmakers once a debate is opened on the matter in the Parliament’s scheduled session today. A parliamentary source has revealed that the Minority Bloc insists that the tougher blasphemy law should also apply to those who blaspheme the family of Prophet Mohammad (PBUH). CONTINUED ON PAGE 2

Ben Bella, first president of independent Algeria dies ALGIERS: Ahmed Ben Bella, Algeria’s first president after the country became independent from France half a century ago, has died following an illness, state media reported on Wednesday. He was 96 and died at his family home in the Algerian capital, according to the state-run news agency. The son of peasant farmers who grew up near Algeria’s border with Morocco, Ben Bella was one of the leading figures in the war for independence from France after World War Two, and spent several years in French prisons. When France relinquished control of Algeria in 1962, Ben Bella became president but he was unseated three years later in an internal coup by Houari Boumediene, a fellow independence fighter who took over as head of state. Ben Bella subsequently spent years in jail and exile before returning to Algeria in 1999. His death coincides with the 50th anniversary of Algerian independence, a date which many Algerians see as bitter-sweet because they feel the aspirations of the country’s founding fathers, embodied by Ben Bella, have not been fully realized. -Reuters

Dementia cases to more than triple by 2050: WHO

PARIS: The number of people with dementia is expected to almost double to 65.7 million by 2030 as the world population ages, according to a World Health Organization report published Wednesday. And by 2050 the number of sufferers could be more than three times the current figure of 35.6 million, the UN body said. The report released by WHO and Alzheimer’s Disease International estimates the current cost of treating and caring for those with the condition at $604 billion (461 billion euros) a year.

Dementia is caused by a variety of brain illnesses that affect memory, thinking, behavior and the ability to perform everyday activities. Alzheimer’s disease is the most common cause of dementia and accounts for about 70 percent of cases. More than half of sufferers (58%) live in low and middle income countries but this could rise to 70 percent by 2050. The report said far more effective diagnosis was needed, as even in high income countries only 20 to 50 percent of dementia cases are routinely More on 15 recognized.

World awaits Syria’s promise to comply with truce deadline

CAPITALS: Syria’s government told the United Nations it will abide by a cease-fire that begins today morning, though it reserves the right to respond to any attacks. The statement on Wednesday came after Kofi Annan, the UN and Arab League special envoy, warned that failure to agree to the ceasefire would have serious repercussions for the region and called for increased international pressure on the government of President Bashar Al-Assad to end the conflict. Syrian forces will “cease all military fighting” as of 6 am Damascus time, according to a letter from the foreign minister released by Annan’s office in Geneva. Syria reserves “the right to respond proportionately to any attacks carried out by armed terrorist groups against civilians, government forces or public and private property.” Assad’s government failed to meet a UN deadline

Ministry denies its Ambassador to UK resigned

Sudan talks halted as tension escalates

Army personnel searching for avalanche victims including 127 soldiers during an ongoing rescue operation in the Siachen Glacier. Harsh weather conditions hampering the search for 138 people buried under a huge avalanche at a Pakistani army camp will last at least another 24 hours, a senior meteorological ofﬁcial said. A huge wall of snow crashed into the remote Siachen Glacier base high in the mountains in disputed Kashmir early on Saturday morning, smothering an area of one square kilometer. (AFP)

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah is seen in a group picture with ofﬁcials from the Ministry of Education and teachers during the Teacher’s Day ceremony held in honor of the educators for the scholastic year 2010-2011 on Wednesday, April 11, 2012. (KUNA)

weeks ago. State news agency SUNA said Sudan would order a general army mobilization but gave no further details. It quoted Defense Minister Abdel Raheem Muhammad Hussein as saying the army was capable of preserving stability and controlling the situation. It was not possible to verify statements from both sides as almost no access to conflict areas is given to foreign media. On the diplomatic front, SUNA said Sudan would halt all talks sponsored by the African Union with Juba and withdraw its negotiating team from Addis Ababa with immediate effect. Sudan also accused the South of attacking Heglig, a disputed area vital to Sudan’s economy because of an oil field accounting for about half of its 115,000 More on 4 barrel-a-day output.

yesterday to withdraw forces from flashpoints across the country after saying on April 8 that it wouldn’t do so without written guarantees from rebels it labels as “armed terrorist groups.” The UN estimated about two weeks ago that more than 9,000 people have been killed in the conflict, now in its second year. Meanwhile, Syrian troops pummeled opposition neighborhoods in the city of Homs with heavy mortars on Wednesday after peace envoy Kofi Annan said Damascus had again promised to respect a ceasefire due to take effect in little more than 12 hours. “Annan, this is your ceasefire,” ran the sarcastic voiceover on an activist video that showed a shopping mall engulfed in flames after it was hit in bombardment of the Juret Al-Shayah quarter. Sniper fire cracked out incessantly in the background. At least 12 people were killed on Wednesday, acMore on 4 tivists said.

Defiant North Korea begins injecting fuel into rocket

chemicals into the rocket which cause corrosion, which means the firing could come on Thursday, at the start of a five-day window announced already by Pyongyang. Weather conditions on the peninsula also appear to favor a launch on Thursday or Saturday, according to meteorological reports from Japanese television. “The likelihood of a launch (on Thursday) is the greatest,” said Francis Yoon, a professor of engineering at South Korea’s Yonsei University and an expert on rocket technology. The launch of the Unha-3 rocket, which North Korea says will merely put a weather satellite into space, breaches UN sanctions imposed to prevent Pyongyang from developing a missile that could carry a nuclear warhead. James Oberg, a former rocket scientist with the US space shuttle mission control who is in North Korea, said the rocket was not a weapon, but “98 percent of a weapon”, requiring more technology, although More on 5 not much.

Simpsons creator: Real Springfield is in Oregon SPRINGFIELD, Oregon: One of the best-kept secrets in television history has been revealed, with “The Simpsons” creator Matt Groening pointing to Springfield, Oregon, as the inspiration for the animated hometown of Homer and his dysfunctional family. Groening told Smithsonian magazine, published online Tuesday, that he was inspired by the television show “Father Knows Best,” which took place in a place called Springfield. Springfield, Oregon, is 100 miles south of Groening’s hometown of Portland. “When I grew up, I realized it was just a fictitious name,” Groening told the magazine. “I also figured out that Springfield was one of the most common names for a city in the US. “In anticipation of the success of the show, I thought, ‘this will be cool; everyone will think it’s their Springfield.’ And they do,” he said. Groening said he has long given fake answers when asked about the Simpsons’ hometown, leaving open the possibility that his latest one is itself another fake. The show has made a running joke of hiding the true More on 17 Springfield’s location.

People march on April 11, 2012 in Bamako in support of the National Committee for the Recovery of Democracy and the Restoration of the State (CNRDRE), the ruling junta that seized power in a March 22 coup, and the Malian Army. Mali’s parliament speaker, Dioncounda Traore, will be sworn in as interim president today, ending a brief period of military rule that saw Tuareg rebels and Islamists seize half of the West African country. (AFP)

ALWATAN DAILY

kuwait

thursDAY, april 12, 2012

Parliament postpones discussing issuance of annual plan KUWAIT: The National Assembly postponed during its Wednesday’s session discussing issuance of the third annual plan (2012-2013) to the next session due in two weeks. This annual plan aims at addressing any deficit in services and infrastructure of some of the country’s areas and find solutions for them to measure up against other areas of good standards. Wednesday’s session began with debating a report by the committee of financial and economic affairs regarding the relevant bill, in addition to a proposal that suggest adding an extra term to the plan in order to survey the Kuwaiti regions suffering from noticeable shortage of utilities, defects in infrastructures, as well as working out programs and setting budgets to be included in the 2012-2013 main budget. Then, the legislators listened to a briefing by the government officials about the mentioned plan, however, the debates were cut short after some lawmakers requested that the discussions be delayed pending their careful review of the government report in this regard. Moreover, the assembly approved a proposal to task the committee of housing affairs to study the problem of prefabricated houses with the government to offer fundamental solutions, namely laws,

recommendations and resolutions to tackle it, provided that the commission presents its report to the assembly to debate it at the May 5 session. The Parliament also approved a request by the Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khalid Al-Sabah to delay the debate on the MPs’ questions, addressed to him. For his part, Minister of Information Sheikh Mohammad Al-Abdullah Al-Mubarak Al-Sabah affirmed the government keenness on answering the inquiries, indicating at a written request by the minister of foreign affairs for delaying the debate, in line with the Article 124 of the parliament by-law. Furthermore, the lawmakers endorsed a proposal to specialize one hour in the Thursday session to discuss the issue of the laid-off Kuwaitis from the private sector and approving the employment security law. The session proceeded with debates of amending the criminal law, with calls to release the detainee from custody after 24 hours of holding him (her), unless the interrogator presents a written direction to keep the suspect in custody for a longer time. Finally, the Parliament agreed to tackle the issue of Kuwaiti employees who were laid off from the private sector in tomorrow’s meeting. -KUNA

Maximum remand period reduced to 24 hours CONTINUED FROM PAGE 1

On the contrary, the majority is adamant that members of the Prophet’s family should not be included, and in the event that they are added, the companions of the Prophet should also be included. Sources have revealed that in case that the bill is approved, it will immediately come into force with pressing effect, rather than being applied retrospectively. This implies that the law will not be applicable to Mohammad Al-Melaifi and Hamad Al-Naqi. Additionally, the Parliament will discuss today the issue of private sector

layoffs in order to address their conditions and pay their dues. In another development, the Parliament agreed to a proposal that the Public Funds Protection Committee be assigned to mount an investigation into alleged irregularities in a contract between the Ministry of Health and the Canada based university. Also, National Assembly approved a request binding the Foreign Minister Sheikh Sabah Al-Khaled Al-Sabah to respond to questions addressed to him by MP Musallam Al-Barrak concerning alleged illicit financial transfers abroad as well as wine supply to foreign em-

bassies in Kuwait. Al-Barrak hinted at a possible interpellation against the minister if he fails to address the questions within two weeks. Additionally, the Parliament deferred the discussion of the State Development Plan for two weeks in order to allow MPs more time to review a report concerning the issue. On the other hand, the Parliament nodded to the proposal to assign the Housing Committee to study the issue of fabricated houses and find fundamental solutions to the matter. The committee is due to submit a report to Parliament on May 5.

New Pulmonary Rehabilitation Center to be opened in Kuwait

Lawmaker Abdulrahman Al-Anjari debating a report by the committee of financial and economic affairs of the third annual plan (2012-2013) on Wednesday, April 11, 2012. (Al Watan)

Education Minister reshuffles top aides

KUWAIT: Minister of Education and Minister of Higher Education Dr. Nayef Al-Hajraf on Wednesday issued a decree for reshuffling the Education Ministry’s assistant undersecretaries. “The move is meant to give impetus to the different departments of the ministry to improve outcome and achieve state objectives,” AlHajraf said in an interview with Kuwait News Agency (KUNA). He stressed that the decision was taken after two months of study and evaluation to the work and achievements of the different departments. “Such decisions are taken from time to time according to the higher interests of the Ministry,” the minister suggested. He expressed hope the move would help the different departments keep abreast with the great developments in the educational process and achieve the goals of the Ministry policies. As per the decree, assistant undersecretary for ad-

ministrative affairs Aisha Radwan became the assistant undersecretary for educational development; assistant undersecretary for education development Bader AlDyahani moved to the post of assistant undersecretary for specific education; assistant undersecretary for assistant undersecretary for specific education became assistant undersecretary for public education. Moreover, assistant undersecretary for public education Mona Loghani will be the assistant undersecretary for private education; assistant undersecretary for private education Fahad Al-Ghes became assistant undersecretary for financial affairs; the assistant undersecretary for financial affairs Radi Al-Rashedi moved to the post of assistant undersecretary for students activities; and assistant undersecretary for students activities Duaij Al-Duaij became assistant undersecretary for administrative affairs. -KUNA

Status of second batch of applicants for citizenship examined KUWAIT: Executive Director of the Central Apparatus for Illegal Residents Affairs, Yousef Saleh Al-Fadalah, said on Wednesday that the department referred list of the names of the second batch of naturalization applicants to the relevant authorities. Al-Fadalah said in a statement that this step was taken after the cabinet approved, several days ago, the first batch that had been presented by the apparatus. This group in-

cluded children of divorced Kuwaiti women and widows, whose status render them eligible for applying for the Kuwaiti citizenship.The department is currently preparing the list of the third batch, including names from diverse segments, Al-Fadalah added. These steps were taken within the “road map,” that had been approved by the cabinet, stipulating comprehensive tackling of the issue of the illegal residents. -KUNA

GCC ties too strong to be compromised by media: Information Minister Minister of Health Ali Al-Obaidi (third left) inaugurating the Pulmonary Rehabilitation Center on Wednesday, April 11, 2012. (KUNA) Nancy Oteifa Staff Writer

KUWAIT: Under the patronage of the Minister of Health Ali Al-Obaidi, the Pulmonary Rehabilitation Center was inaugurated on Wednesday with the attendance of many doctors and specialists in the medical field. After touring the center Al-Obaidi told the press that the Ministry of Health is keen on improving the level of hospitals and medical care in Kuwait. This comes as part of the Ministry’s long term plan in developing the medical care in the country. He added that the level of medical care had improved drastically over the past 10 years, which include providing new technological machines and equipment centers, adding that hospitals aim at offering a better service to the patients in Kuwait. He noted “This specialized center will take care of patients suffering from lung and chest problems. There are several specializations in the center, such as the early detection of lungs diseases. The center will offer the best qualified medical care for patients suffering from different lung diseases and there is a service for checking the patients with lungs infections. The center will include a section for training doc-

tors on the latest machines with the assistance of the College of Medicine and Ministry of Health. Also there is a section for latest medical researches on lung diseases and methods to prevent them. The center will also include a section for awareness campaigns for prevention from lung diseases.” He added, “This new center is offering the latest machines and equipments in terms of the medical care service, which will facilitate and improve the quality of service given to the patients and will make the service much easier and faster on the doctors and specialists too. For instance, a new machine for distributing medicine was put in the centre for the patients to collect their medication using a card. This card will be given to the patients from the hospital. They then can visit the center any time and insert the card in the machine, that is similar to an ATM machine, and enter the code. This will facilitate the patients to take his medicine any time even if the pharmacy is closed.” On her part, Director Fatma Al Saeedi told Al Watan Daily that this center is one of its kind in Kuwait and the region. The center contains 130 beds distributed on four wards and the ICU (Intensive Care Unit). She added that the centre includes 19 doctors, 40 nurses, three respiratory technicians and three supervisors.

Kuwait, Iran discuss food security in joint meeting KUWAIT: A Kuwaiti-Iranian joint committee discussed, in its 11th session, launching shared projects concerning food security, fisheries, livestock, poultry and agriculture. On the fringes of the meeting which was held on Wednesday at the Ministry of Commerce, Undersecretary of Kuwait’s Ministry of Commerce and Industry Abdullaziz Al-Khaldi told the press that the Kuwaiti side welcomed investing in these projects which would be handed over to private sectors and concerned government bodies to be studied. These projects would contribute greatly in providing food security in the state of Kuwait, he added. The Kuwaiti side stressed, during the meeting, the importance of enhancing food security and safety measures onboard of the Iranian ships coming to the country. The meeting also focused on facilitating all obstacles

between Kuwait International Fair and its Iranian counterpart by signing a Memorandum of Understanding (MoU) to hold more ground fairs on both countries. The Iranian side, meanwhile, said that there is more room for bilateral industrial cooperation, especially in livestock, fisheries in addition to joint industrial and commercial exhibitions. Iranian Deputy Minister of Commerce Hameed Safdil said, in the meeting, that the MoU will include a clause that would unify measures and standard of commercial exchange between Kuwait and Iran to facilitate and speed up the customs process. Safdil expressed his country’s readiness to host the next joint meeting and hoped that the trade volume between the two countries would increase over the current 200 million US dollars.

DOHA: It is unlikely that a media body’s reports or policies would affect the strong ties between the countries of the Gulf Cooperation Council (GCC), Information Minister Sheikh Mohammed Al-Abdullah Al-Mubarak AlSabah told Qatari daily Al-Arab. In the interview published in the paper’s Wednesday issue, the minister stressed “the relations that bind GCC peoples are too strong, too sophisticated, and too deep to be compromised by actions of a sector or an institution.” The minister further expressed hope GCC media would serve as a positive example in the region, noting the great leaps in the performance and quality of GCC media sectors. The minister pointed out media activities in Kuwait are governed by two laws; a law for the press and publication and a law for visual and audio media in particular. “Any violation of either shall have consequences ... but should institutions heed the restraints therein, the Information Ministry has no need to intervene.” The minister recalled a recent report by Gallup which placed the State of Kuwait in slot 24 internationally and first place in the Arab region in terms of freedom of the press. “Undoubtedly, freedom comes at a price, and we hope all Kuwaiti, Gulf, Arab and Islamic media bodies show all due responsibility and accountability,” the minister stressed. Asked whether the current media and information legislation suffices, the minister answered in the negative. “It is inadequate ... And I intend to amend some articles and add new articles to accommodate the recent major changes and developments in the field of media.” As for the issue of the grilling of the minister upon request of MP Hussein Al-Qallaf, on claims of slack in supervision over certain private media institutions in Kuwait, the minister said, “All shall hear my answers on the appointed day.” He noted the MP had acted within his constitutional right, and did not break any law by requesting the hearing. The minister was asked to comment on Qatari media, and he remarked that “Qatar is now setting the standards for Arab media, and the rest of us have to follow.” He specifically commented on Aljazeera channel. “It is highly appreciated by the public, but like any other channel, we agree with some of the reports and disagree with others.” He went on saying, “It is, however, entitled to portray issues from its unique perspective, since it is, after all, a private channel.” When it comes to the channel’s office in Kuwait, the Kuwaiti official said “we treat all channels’ branches according to the laws governing this field. They are all offered the same facilities to operate and expected to heed the same restraints.” “While we consider GCC official media an extension of our own and ours part of the whole, we realize that Gulf countries might have

Information Minister Sheikh Mohammed Al-Abdullah Al-Mubarak Al-Sabah. (KUNA)

some reservations and complaints with ‘private’ channels in Kuwait, just like we might have issues with some operating elsewhere in the Gulf.” However, no passing incidents caused by these institutions could jeopardize our strong bonds. Specifically asked for comment regarding the legal case involving a Qatari national recently, the minister said “We have specialized institutions looking into the matter and the State is not authorized to influence their handling of issues, as long as it is all within the law. Bluntly putting discussion on this point to an end, the minister remarked, “The said case is before the court system, and there is a clear and widely acknowledged prohibition against discussion of any case standing before trial, lest it influences the proceedings and findings.” Minister Sheikh Mohammad Al-Abdullah Al-Mubarak Al-Sabah also said his country does not intend to open media offices abroad, and that there is instead focus on getting the Kuwaiti views across through a new matrix for cooperation between the Information Ministry and existing media institutions. -KUNA

ALWATAN DAILY

KUWAIT

THURSDAY, APRIL 12, 2012

Amir graces Teacher’s Day ceremony, honors devoted teachers KUWAIT: His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah graced a ceremony held Wednesday marking Teacher’s Day and honoring a host of devoted teachers for the scholastic year 2010-2011, at the Basic Education College in Shamiya. His Highness was greeted upon arrival by Minister of Education and Minister of Higher Education Nayef Al-Hajraf and members of the organizing committee. Officials there to attend the event included His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, National Assembly (NA) Speaker Ahmad Al-Saadoun, former NA speaker Jassem Al-Kharafi, senior Sheikhs, His Highness Sheikh Nasser Al-Mohammed Al-Ahmad AlSabah, His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, and a number of senior state officials. Minister Al-Hajraf addressed the audiences on the occasion, and another speech followed on behalf of the teachers being honored by Walid Al-Shatti. A documentary on the theme “Unleash your enthusiasm ... Release your energy” was then screened before an operetta by students and the honoring of the selected teachers for this scholastic year. In his speech, minister Al-Hajraf started by stressing that His Highness the Amir’s keenness to attend such events and honor devoted teachers further reflects the country’s great care to assign due priority to this facet of our national development and shows the honorable status of a teacher in our community. The minister said the teachers consider an honoring by His Highness a token of appreciation of their great sense of responsibility as

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah (second left) with the Minister of Education and Minister of Higher Education Nayef Al-Hajraf (first left) during a ceremony held in honor of teachers on Wednesday, April 11, 2012. (KUNA)

they strive to prove worthy of this great honor and worthy of the trust of their fellow citizens as the country seeks greater progress. Citing the great care put into the education sector even before the opening of the first state school, Al-Mubarakiyyah, in 1911, Al-Hajraf remarked Kuwait is still on this same path of seeking to develop its educational system and helping bring up generations that are up to the challenges of their time. This is achieved, he pointed out, through cooperation on all state, public, and social levels. The minister said such annual honoring ceremony and care by the Amir to recognize achievement and effort in this sector prompts

ATC holds awareness campaign for pharmacists in Kuwait Nancy Oteifa Staff Writer

KUWAIT: Advanced Technology Company (ATC) held a seminar to introduce a new system into Kuwait health care section, which is about automation system in the pharmacies in Kuwait, to be integrated with hospital information system IT department so it can prescribe the drugs and it will be directly translated into medicine inside the pharmacy. The event was under the patronage of Qanat Ismaeel Director of Pharmaceutical Service at the Ministry of Health. Patrik Vanvorn Vice-President of one of the biggest companies specialized in automated pharmaceutical solutions gave a presentation on this new system being available in Kuwait. Al Watan Daily held an exclusive interview with Pharmaceutical and Regulatory Affairs Manager at ATC Ali Sabooba, where he spoke about the event held at Holiday Inn on Tuesday. He noted that the meaning of automation is that there is no human interference in the system. The doctor will prescribe the medicine and then it will go into the system and then archived in the patients file at the same time a message will be sent to the pharmacist to prepare the medicine accordingly.” He added, “The system consists of an IT linked to a machine which will translate the instructions to retrieve the medicine from the stores and to prepare it for the patients.” He said, “This system is introduced for the first time in the Middle East and we are having it exclusively in Kuwait. This machine will improve the medical service in the pharmacies in hospitals in Kuwait because it will make life easier for the patients and the pharmacists. The patients don’t have to wait a long time to receive their medicine and they can even reach the machine anytime even if the pharmacy is closed because they access the machine with a card similar to the ATM card then enter their password and take the medicine anytime.” He said, “Patients are not paying anything to get their medical card it’s for free and they get if from the hospitals. This new machine has been a trend in Europe and in the US a long way back and it’s time to have this technology in the Middle East. We have machines from different countries because every machine is targeted for something specific.” Speaking about the service level in hospitals in Kuwait he commented that this new system will change and improve the service in the hospitals by 100 percent. This system is very useful and helpful for chronic patients who want to receive their medication anytime of the day. He concluded, “All the pharmacists from all public hospitals and specialized hospitals in Kuwait are invited today in order to get introduced and aware of this new system.”

Ministry denies its Ambassador to UK resigned KUWAIT: The Foreign Ministry denied Tuesday reports about resignation of Kuwait’s Ambassador to the UK Khaled Abdulaziz Al-Duwaisan. Al-Duwaisan “is still in office,” a ministry source said. But the Ambassador reached the retirement age, the source explained, so the ministry was about to seal a special contract with him to enable him continue his duties. Such issue, he added, was irrelevant to investigations currently underway in the parliament of Kuwait over the foreign transfers matter. -KUNA

Justice Minister extols Kuwait’s International Holy Quran Award

KUWAIT: Minister of Justice and Minister of Awqaf and Islamic Affairs Jamal Shehab said here on Wednesday that the remarkable increase in the number of contestants of Kuwait’s International Holy Quran Recitation and Memorization confirms its entrenched position among the prestigious international competitions. Shehab said in a s speech, he delivered on the occasion of launching the activities of the award held under the patronage of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and in the presence of representative of the patron of the award His Highness Sheikh Jaber Mubarak Al-Hamad Al-Sabah, Prime Minister, that “We are confident that the parental caring extended by His Highness for this award has contributed to the success of the award and the promotion of its march towards achieving its goals”. He expressed pride of the increasing number of participants in this award which he described as “blessed”, noting to the various segments of participants who came from all over the world. For his part, Chairman of the Higher Committee for the award, Undersecretary of the Ministry of Awqaf and Islamic Affairs Dr. Adel Al-Falah said this award has become a monument for the service of the holy book of God Almighty. He added that the keenness of His Highness the Amir on the coverage of the award had the best fruits in the increasing number of participants. -KUNA

teachers and educators to put even more effort, and the positive and legitimate competition that results would be in the greater interest of our homeland. Speaking on behalf of the teachers being honored, Walid Al-Shatti said it was a great honor to mark this occasion and recall the devotion of teachers and educators who help raise our new generations in a manner befitting our times. He stressed the traits shared by those seeking this profession. “A true educator minds his students much like a farmer would mind a sapling, nurturing it, defending it, and stressing its strengths till it blooms. They bring up our

Children are seen performing a folklore dance during a ceremony held in honor of teachers on Wednesday, April 11, 2012. (KUNA)

children on the values of honor, love of the homeland, and national solidarity and respect for law and leadership.” “Teachers Day is this time marked along with the centennial of regular education in Kuwait. It is a great and rare opportunity for us, therefore, to remember the great achievements of great men who started their careers in this profession before us, to whom all subsequent generations shall forever be indebted.” Pledging, on behalf of those hon-

ored, to continue to honor the great profession and duty of an educator, Al-Shatti expressed gratitude to His Highness the Amir, Their Highnesses the Crown Prince and Prime Minister, and Education Minister for their care to shed light on the needs and accomplishments in this vital sector and to the organizers of the event. His Highness the Amir left the venue after receiving a commemorative token on this occasion. -KUNA

ALWATAN DAILY

regional

What a frightening call! By Hossam Fathi Staff Writer

KUWAIT: A friend of mine, who has been working as a journalist for a long time covering the era of the last three speakers of parliament, made observations concerning the current speaker. The man in question was sitting on the speakership chair happily since his party managed to obtain the majority of the parliamentary seats. My friend said the speaker appeared to be in favor of supporting the recent draft law suggesting banning followers of the former president, especially candidates Sulaiman and Shafiq, from running in the current presidential election. During the session one of the speaker’s assistants rushed to him then whispered in his ear. The speaker appeared worried and announced the suspension of the session, then headed to his office. Meanwhile he received a heated phone call, after which the happiness of the speaker turned into worry and sadness. The call was from a senior politician. Following the short recess the assistants of the speaker asked the members of his party and other figures to attend an urgent meeting with him. Journalists and other attendants started talking about the matter and how the situation of the parliament was turned upside down. Some of them indicated that the senior politician who made the phone call had threatened the speaker and urged him not to endorse the law!! Following the positives steps that the parliament has adopted we might unfortunately be shocked by less than promising decisions within the next few days!! hossam@alwatan.com.kw Twitter:@hossamfathy66

NEWS IN BRIEF Clashes near Egypt-Libya border leave two dead CAIRO: Two people were killed during clashes between residents of an Egyptian town close to the Libyan border and security forces, security officials told AFP on Wednesday. Residents of Sallum in western Egypt on Tuesday night blocked the main motorway heading to Libya to protest security restrictions on cross-border traffic and increased tariffs for trucks. The move prompted security forces to intervene, leading to clashes that left two dead and four people injured, officials said. By Wednesday morning, dozens of Sallum residents again blocked the motorway to Libya, allowing access only to Libyan families returning home, the official said. Egypt has been gripped by security related problems, protests and clashes since a popular uprising that toppled president Hosni Mubarak last year. -AFP

Tunisia lifts rally ban on symbolic street TUNIS: Tunisia on Tuesday said it will allow demonstrations on a symbolic street in the capital two days after police brutally clamped down on protesters who defied a ban on rallies. “The avenue is reopened to all Tunisians, those who want to demonstrate, to walk or to work,” Interior Minister Ali Larayedh said following a cabinet meeting that also called for an “independent inquiry” into Monday’s violence. Bourguiba Avenue in the heart of Tunis has been the site of numerous demonstrations since the regime of Zine El Abidine Ben Ali fell in January 2011. But Tunisia’s government, led by the moderate Islamist party Ennahda, banned rallies on the street on March 28, three days after Islamist protesters demanding Sharia law attacked a group of actors last month. The interior ministry said the ban was needed because those who do business on the avenue had complained about the repeated disruptions. -AFP

Iran’s president visits disputed island TEHRAN: Iran’s President Mahmoud Ahmadinejad has visited a strategic island also claimed by the United Arab Emirates, in the first trip by a head of state since Tehran retook possession of the island 41 years ago. Ahmadinejad praised Iran’s rich culture during the Wednesday visit to Abu Musa but did not mention the dispute with the UAE, according to the official IRNA news agency. Iran took control of tiny Abu Musa and the nearby Greater and Lesser Tunb islands in 1971 after British forces left the region. The three islands dominate the approach to the Strait of Hormuz, through which about one-fifth of the world’s oil supply passes. Tehran says the islands have been part of states on the Iranian mainland from antiquity until the early 20th century. -AP

thursDAY, april 12, 2012

Syrians, under bombardment, mock ‘ceasefire’ BEIRUT: Syrian troops pummeled opposition neighborhoods in the city of Homs with heavy mortars on Wednesday after peace envoy Kofi Annan said Damascus had again promised to respect a ceasefire due to take effect in little more than 12 hours. “Annan, this is your ceasefire,” ran the sarcastic voiceover on an activist video that showed a shopping mall engulfed in flames after it was hit in bombardment of the Juret Al-Shayah quarter. Sniper fire cracked out incessantly in the background. At least 12 people were killed on Wednesday, activists said. Western powers have scorned President Bashar Al-Assad’s truce pledges to the United Nations-Arab League mediator, but so far lack an effective policy to curb the bloodshed, given their own aversion to military intervention and the resistance of Russia and China to any UN Security Council action. “Far from fulfilling their commitment, the regime has cynically exploited the window of diplomatic negotiations to crack down even harder on its own people,” British Prime Minister David Cameron said during a visit to Indonesia. He said Annan had reported that Assad’s troops were “conducting roving military operations in population centers supported by artillery fire”. An estimated 1,000 people had been killed in the past week, Cameron said. With all hostilities with rebels supposed to end at dawn on Thursday, activist videos posted on YouTube showed bombs crashing into the Khalidiya district of Homs. Spouts of pulverized debris burst high into the air with each impact and plumes of dust and smoke drifted over the rooftops. The videos could not be verified and the Syrian government bars most independent media from the country. The Syrian Observatory for Human Rights (SOHR), a Britishbased activist information organization, said three people were killed Homs and shelling that went on for an hour killed a man, woman and child in Qusair near the border with Lebanon and three were killed outside Damascus. “Mortar fire started at 7 this morning. I can hear one explosion every five minutes,” said activist Waleed al-Fares in Homs, where bombardment killed at least 26 people on Tuesday. Clinton-Lavrov talks

US Secretary of State Hillary Clinton said she would meet Russian Foreign Minister Sergei Lavrov on Wednesday to seek a policy change from one of Assad’s few foreign friends. “We will have another go at trying to persuade the Russians that the situation is deteriorating and the likelihood of regional conflict and civil war is increasing,” she said. China expressed “deep worries” about the violence in Syria and called for all sides to respect a ceasefire. Foreign Ministry spokesman Liu Weimin also described Annan’s work as “an important and rare opportunity” to end the crisis. Annan’s plan, endorsed by the Security Council, is for now the only game in town and the former UN secretary general said it must be given a chance to work. “If everyone respects it, I think by 6 in the morn-

A handout picture made available on Iranian President Mahmoud Ahmadinejad’s official website shows President Ahmadinejad (right) meeting with UN-Arab League envoy Kofi Annan at Qeshm Island, Hormozgan province on April 11, 2012. (AFP)

ing (0300 GMT) on Thursday we shall see improved conditions on the ground,” he said in Tehran, where he was asking Syria’s staunchest regional ally to support his efforts. But the Syrian military has stayed on the offensive, pursuing assaults on several anti-Assad strongholds, instead of pulling back, as Annan’s plan required them to do on Tuesday. The SOHR said two people were killed in army raids in Deir El-Zor in the Euphrates river valley far to the east. Artillery shelled the Jebel Akrad area in the coastal province of Latakia. “Helicopters flew overhead and the army prevented the evacuation of people. There are reports of houses being destroyed by shelling while families are still in them,” said Rami Abdelrahman, head of the SOHR. In southern Deraa, birthplace of the 13-month-old revolt against four decades of Al-Assad family rule, activists said many busloads of troops backed by armored vehicles had flooded the city and were making house-to-house raids. Activist Omar Al-Hariri said he had never seen so many troops: “The army is exploiting the ceasefire to arrest more dissidents than ever and security forces are burning houses.” Anti-Assad rebels have said they will stop fighting if the Syr-

ian military pulls back and ceases fire as promised.

Saudi Arabia denies activist on hunger strike JEDDAH: A prominent Saudi rights campaigner, who has been detained for a year, is not on hunger strike, an Interior Ministry spokesman said in response to activists saying he was in deteriorating health and Saudi authorities were to blame. Mohamad Al-Bajadi was detained in March 2011 after voicing support for families demonstrating outside the Interior Ministry in Riyadh to demand the release of jailed relatives, according to fellow activists. “Mohamad Al-Bajadi did not go on hunger strike and he is in good health, consuming food on a regular basis and in the company of other inmates,” ministry

spokesman Mansour Al-Turki said late on Tuesday. Activists and the Saudi Civil and Political Rights Association (ACPRA) said at the weekend that Al-Bajadi had been on hunger strike for the past month, and had stopped drinking water. In a letter from AlBajadi that a fellow activist said was leaked on March 27 via someone who was visiting another inmate, Al-Bajadi said he was on hunger strike but was being force-fed. “I inform you that I am still continuing with my hunger strike... On Tuesday March 20 I was taken to the prison hospital for a check-up and force fed in the presence of five soldiers and the ward officer,” said

the letter, addressed to Mohammad AlQahtani and other activists. “I have lost around 10 kilos (22 pounds) and my blood sugar level, according to them, has dropped to a dangerous level... I hope that you can ask to meet me in prison,” it continued. “Let us see the man and get assurances on his condition,” said Al-Qahtani who with other activists tried unsuccessfully to visit Al-Bajadi in prison on April 2. Al-Bajadi’s condition could not be independently verified. His trial, on charges including tarnishing the reputation of the state, was suspended after he refused to recognize the court. -Reuters

Iran to offer new proposals at nuclear talks DUBAI: Iran will present new proposals at talks on Saturday aimed at easing concerns about its nuclear activity, state television said, but it was unclear if Tehran was willing to address its disputed uranium enrichment drive as six world powers want. It was the latest apparent attempt to strengthen Iran’s position ahead of the talks, which the powers insists must tackle its higher-grade enrichment activities seen in the West as a disguised effort to develop nuclear weapons capability. The Islamic Republic says the program is solely for power generation and medical needs. “Iran’s representatives will participate in the negotiations with new initiatives and we hope that the P5+1 countries

will also enter talks with constructive approaches,” said the head of Iran’s Supreme National Security Council, Saeed Jalili, according to English-language news network Press TV. Jalili, Iran’s chief nuclear negotiator, said it was “ready to hold progressive and successful talks on cooperation” but that “the language of threat and pressure against the Iranian nation has never yielded results”. Previous rounds of talks - the last was in January 2011 - foundered in part because of Iran’s refusal to negotiate on the scope of its enrichment work, instead floating general proposals for trade and security cooperation. In February Jalili wrote to EU foreign policy chief Catherine Ashton saying Iran would put forward new initiatives

in any future talks but did not spell out what they were. On Monday, the head of Iran’s Atomic Energy Organization, Fereydoon Abbasi-Davani, raised the possibility of Iran suspending enrichment to the 20 percent level of fissile purity if its needs were met. The proposal did not address Western concerns about what would happen to Iran’s existing stockpile of highergrade enrichment uranium. Uranium needs to be refined only to the 5 percent level for use in running power plants. A 90 percent threshold is required for atomic bomb material. Iran says it needs a 20 percent stockpile to fuel a medical isotope reactor. Western powers fear Iran’s underlying goal is to advanced towards bomb-grade purity. -Reuters

Yemen army kills 30 militants in clashes

Yemeni tribal gunmen loyal to dissident tribal chief Sadiq Al-Ahmar, who fought against former president Ali Abdullah Saleh loyalists, walk past a bullet-riddled building in the capital Sanaa on April 10, 2012. (AFP)

ADEN: Yemeni troops killed at least 30 suspected Al-Qaeda-linked fighters in a third day of clashes on Wednesday, as the government sought to gain the upper hand in its increasingly violent confrontation with Islamist militants. Local officials and residents said the fighting occurred on Jebel Yasuf, a mountain 10 km (6 miles) from the southern town of Lawdar, where dozens of people have been killed since Monday after Ansar Al-Sharia militants attacked an army camp. At least eight people were killed in continued fighting in the vicinity on Tuesday. Militants, emboldened by a year of upheaval in Yemen, want to exploit weakened government control to spread their influence. In Abyan, where Lawdar is located, they already hold large swathes of territory. A senior government official said the fighting around Lawdar marked a turning point in the army’s confrontation with Ansar Al-Sharia (Partisans of Islamic Law) following a series of defeats by the militant group. “The battle of Lawdar is considered a decisive one for the army against the terrorist groups and a prelude to the cleansing of all towns seized by militants in the province of Abyan,” said the official. He said 10 mili-

‘Part of the solution’

Annan, at a news conference with Iranian Foreign Minister Ali Akbar Salehi, urged Iran to help resolve the violence and warned of “unimaginable consequences” if it worsened further. “I have received (Syrian) government assurances they will respect the ceasefire,” he said, adding: “I believe Iran can be part of the solution.” Salehi said Syrians should be able to have free elections contested by political parties, but reiterated Iran’s opposition to any outside interference in Syria’s affairs and made clear the Islamic Republic wanted Assad to stay in charge. “The opportunity must be given to the Syrian government to make changes, under the leadership of Bashar Al-Assad,” he said. Iran has unstintingly backed Syria, the only Arab nation to support Iran in its 1980-88 war with Iraq and the conduit for Iranian arms to Lebanon’s Shiite Muslim Hezbollah movement. Syria, where Al-Assad’s Shiite-rooted Alawite minority dominates a Sunni Muslim majority, has become an arena for a sectarian-tinged regional contest between Shiite Iran and Sunni Arab rivals aligned with the West and led by Saudi Arabia. -Reuters

tants had also been captured. The Defense Ministry said in a text message it had destroyed a number of checkpoints set up by militants on a main road linking Lawdar to the neighboring province of Al-Bayda, re-opening the route. It also cited unnamed military sources as saying that Saudi Arabian, Pakistani and Somali nationals were among the militants killed in the Lawdar area. President Abd-Rabbu Mansour Hadi vowed to fight Al-Qaeda and its affiliates when he took office earlier this year after his predecessor quit under pressure from antigovernment protesters and foreign powers anxious to halt a slide into mayhem. Militants have since stepped up their operations against the army, carrying out a string of deadly attacks. return, the Yemeni air force has launched air strikes on suspected militant strongholds and the United States has joined in with drones. The United States and Saudi Arabia both targets of Al-Qaeda’s Yemen-based wing - fear Yemen is becoming a major front in its campaign against the militant network, which has been dealt a number of blows over the past year, not least the killing of its founder and leader Osama bin Laden. -Reuters

Sudan cuts off talks with S.Sudan after new fighting

KHARTOUM/JUBA: Sudan said it would mobilize the army and cut off talks with South Sudan on Wednesday after a flare-up in border clashes raised the risk of a return to all-out war. South Sudan, which seceded in July, has been locked in an increasingly bitter dispute with its former civil war foe over oil payments and other vital issues, as clashes escalated in the ill-defined border region. Sudan’s state media said the country’s national legislation council had decided to stop negotiations with the south aimed at ending the oil row and other disputes after accusing Juba of attacking an important oil field in a turbulent border area. South Sudan, for its part, immediately accused Sudan of bombing a village on its side of the 1,800 km (1,200 miles) border where fighting broke out about two weeks ago. State news agency SUNA said Sudan would order a general army mobilization but gave no further details. It quoted Defense Minister Abdel Raheem Muhammad Hussein as saying the army was capable of preserving stability and controlling the situation. It was not possible to verify statements from both sides as almost no access to conflict areas is given to foreign media. On the diplomatic front, SUNA said Sudan would halt all talks sponsored by the African Union with Juba and withdraw its negotiating team from Addis Ababa with immediate effect. Sudan also accused the South of attacking Heglig, a disputed area vital to Sudan’s economy because of an oil field accounting for about half of its 115,000 barrel-a-day output. “On Tuesday morning and afternoon, areas of South Kordofan state, most notably Heglig, were brutally attacked by the SPLA (southern army), supported by the state of South Sudan, using mercenary forces and rebel groups,” Sudan’s Information Ministry said in a statement. “The government of Sudan announces it will oppose this flagrantly aggressive behavior by all legitimate ways and means.” Sudan urged the U.N. Security Council to call on South Sudan to withdraw from all areas inside Sudanese territory, state news agency SUNA said. Al Jazeera television had earlier quoted a Khartoum government source as saying South Sudan’s army had taken control of Heglig, but officials in the South could not confirm that. “There is only fighting inside South Sudanese territory,” South Sudan’s Information Minister Barnaba Marial Benjamin said, adding that South Sudan was only acting in self defense after Sudan launched a ground attack from Heglig late on Monday. He said the Sudanese air force had bombed the village of Abiemnom inside South Sudan’s Unity state on Wednesday, wounding four people including a child. Sudan’s army spokesman Al-Sawarmi Khalid Saad could not be reached despite repeated attempts to call his mobile phone. Violence in the border regions has hampered negotiations over partition-related issues including demarcating the border, determining the status of citizens in one another’s territory and dividing up debt. -Reuters

ALWATAN DAILY

WORLD

thursdAY, april 12, 2012

Huge quake strikes off Indonesia, tsunami warning issued JAKARTA: An 8.7 magnitude earthquake struck off the coast of Indonesia on Wednesday, sending residents around the region dashing out of their homes and offices in fear. The Pacific Tsunami Warning Center said a tsunami watch was in effect for the entire Indian Ocean and individual countries, including Thailand, Indonesia, Sri Lanka and India, issued tsunami warnings. People near the coast in six Thai provinces were ordered to higher ground. The quake struck 308 miles southwest of the city of Banda Aceh, on the northern tip of Indonesia’s Sumatra island, at a depth of 20.5 miles, the US Geological survey said. Indonesia’s disaster management agency said power was down in Aceh province and people were gathering on high ground as sirens warned of the danger. “The electricity is down, there are traffic jams to access higher ground. Sirens and Quran recitals from mosques are everywhere,” said Sutopo, spokesman for the agency. The quake was felt as far away as the Thai capital, Bangkok, and in southern India, residents said. Hundreds of office workers in the Indian city of Bangalore left their buildings while the

Indian port of Chennai closed down because of the danger of a tsunami, the port said. The quake was in roughly in the same area as a Dec. 26, 2004, quake of 9.1 magnitude, which sent huge tsunami waves crashing into Sumatra, where 170,000 people were killed, and across the Indian Ocean. In all, the 2004 tsunami killed about 230,000 people in 13 Indian Ocean countries, including Thailand, Sri Lanka and India. The 2004 quake was at a depth of 18 miles along a fault line running under the Indian Ocean, off western Indonesia and up into the Bay of Bengal. One expert told the BBC the Wednesday quake as a “strike-slip” fault, meaning a more horizontal shift of the ground under the sea as opposed to a sudden vertical shift, and less risk of a large displacement of water triggering a tsunami. The quake was also felt in Sri Lanka, where office workers in the capital, Colombo, fled their offices, and the southern Thai holiday island of Phuket, both of which were hit hard by the 2004 tsunami. In Bangladesh, where two tremors were felt, authorities said there appeared to be no threat of a tsunami. Australia also said there was no threat of a tsunami there. -Reuters

People gather outside the Baiturrahman mosque after an earthquake hit Banda Aceh April 11. (Reuters)

PYONGYANG: Impoverished North Korea rejected international protests over its planned long-range rocket launch and said on Wednesday that it was injecting fuel “as we speak”, meaning it could blast off as early as Thursday. If all goes to plan, the launch, which North Korea’s neighbors and the West say is a disguised ballistic missile test, will take a three-stage rocket over a sea separating the Korean peninsula from China before releasing a satellite into orbit when the third stage fires over waters near the Philippines. Regional powers also worry it could be the prelude to another nuclear test, a pattern the hermit state set in 2009. “We don’t really care about the opinions from the outside. This is critical in order to develop our national economy,” said Paek Chang-ho, head of the satellite control center at the Korean Committee of Space Technology. Once the refueling has been completed, the North Koreans will have to inject chemicals into the rocket which cause corrosion, which means the firing could come on Thursday, at the start of a five-day window announced already by Pyongyang. Weather conditions on the peninsula also appear to favor a launch on Thursday or Saturday, according to meteorological reports from Japanese television. “The likelihood of a launch (on Thursday) is the greatest,” said Francis Yoon, a professor of engineering at South Korea’s Yonsei University and an expert on rocket technology. The launch of the Unha-3 rocket, which North Korea says will merely put a weather satellite into space, breaches UN sanctions imposed to prevent Pyongyang from developing a missile that could carry a nuclear warhead. James Oberg, a former rocket scientist with the US space shuttle mission control who is in North Korea, said the rocket was not a weapon, but “98 percent of a weapon”, requiring more technology, although not much. This is the third long-range rocket test by North Korea. It says its second succeeded in putting a satellite into orbit in 2009, although independent experts say it failed. The firing coincides with the 100th birthday celebra-

Philippine warship in standoff with Chinese ships MANILA: The Philippines’ biggest warship was locked in a standoff on Wednesday with two Chinese ships in the South China Sea, reigniting tensions in a decades-long dispute over the resourcerich waters. The Philippine government said the two Chinese vessels were blocking efforts by its navy flagship vessel to arrest Chinese fishermen that were found on the weekend to have illegally entered its territory. In a dramatic day of diplomacy, the Philippines summoned the Chinese ambassador in Manila and lodged a formal protest, but China insisted it had sovereign rights over the area and ordered the Philippine warship to leave. Philippine Foreign Affairs Secretary Albert del Rosario said both sides were looking to end the stand-off through diplomatic means, but told reporters negotiations were at an “impasse” and his country was prepared for the worst. “If the Philippines is challenged, we are prepared to secure our sovereignty,” del Rosario said. The standoff was occurring at Scarborough Shoal, just 124 nautical miles from the Philippines’ main island of Luzon. China insists it has sovereign rights to all of the South China Sea, even waters close to the coast of other countries and hundreds of kilometers (miles) from its own landmass. The Philippines says it has sovereign rights over areas of the sea within its 200-nautical-mile exclusive economic zone, and that its position is supported by international law. Apart from China and the Philippines, Taiwan, Malaysia, Brunei and Vietnam also have overlapping claims to parts of the South China Sea, making the waters one of Asia’s potential flashpoints for armed conflict. Aside from being coveted for its oil and gas, the South China Sea is home to vast fishing grounds as well as hosting shipping lanes that are vital for global trade.

NEWS IN BRIEF US jets scrambled over Korean Air bomb threat VANCOUVER: US fighter planes escorted a Korean Air jet carrying 146 passengers and crew to a Canadian military base due to a bomb threat against the flight, officials and the airline said Wednesday. Korean Air flight 72 from Vancouver bound for Seoul was diverted to the Comox base on Vancouver Island on Tuesday after an anonymous caller said a bomb had been planted on the plane, the South Korean flag carrier said. The call was made to the carrier’s US office 25 minutes after takeoff, the airline said in a statement, adding the Boeing 777 plane had 134 passengers and 12 crew members on board. The aircraft landed at the airbase around 110 kilometers (70 miles) northwest of Vancouver without incident and was undergoing safety checks, it said. -AFP

China names ex-leader’s wife in murder case

Defiant North Korea begins injecting fuel into rocket

A picture released by the North Korean Central News Agency (KCNA) on April 11, shows the Unha-13 booster rocket at the Sohae Satellite Launching Station in Cholsan County, North Korea. (Reuters)

The Philippines and Vietnam complained last year of increasingly aggressive acts by China in staking its claim to the South China Sea. The Philippines accused Chinese vessels of firing warning shots at Filipino fishermen, as well as harassing an oil exploration vessel and placing markers on islets within Philippine territory. However this week’s stand-off is the highestprofile in recent years, and comes after both China and the Philippines said they had been working to lower tensions in the dispute. The Chinese embassy in Manila released a statement on Wednesday afternoon insisting the area belonged to China, and ordering the Philippine warship to immediately leave. “The Chinese embassy hereby reiterates that Huangyan Island is an integral part of the Chinese territory and the waters around it is the traditional fishing area for the Chinese fishermen,” the statement said. The statement “urged the Philippine side to stop immediately their illegal activities and leave this area”. China refers to Scarborough Shoal as Huangyan Island. Philippine concerns about China’s perceived aggressiveness prompted it to seek help last year from the United States in building up its poorly equipped military and weak maritime defense capabilities. The United States responded favorably, delivering the Gregorio del Pilar, a a 115-metre (378-foot) decommissioned US coast guard cutter, to replace a World War II-era vessel as the Philippine Navy’s biggest and newest ship. The Gregorio del Pilar was the vessel involved in Wednesday’s stand-off. The United States has promised the Philippines more military aid, and a second patrol vessel is due to arrive this year. The Philippines is also hoping to acquire American F-16 fighter jets, President Benigno Aquino told AFP last month. -AFP

tions of the founder of North Korea, Kim Il-sung, whose young, untested grandson, Kim Jong-un, now rules. Kim Il-sung died in 1994. At a national conference of the ruling Workers’ Party, Kim Jong-un was named first secretary, a new post created to give him the official stature to head the state where his grandfather remains “eternal president.” His father was also named party general secretary for eternity at the conference, the North’s KCNA news agency said. Paek, briefing foreign journalists in the North Korean capital of Pyongyang, declined to comment on the launch date. “As for the exact timing of the launch, it will be decided by my superiors”, Paek said. South Korea, which remains technically at war with the North after their 1950-53 conflict ended with a truce rather than a peace treaty, warned Pyongyang it would deepen its isolation if it went ahead with the launch. Security sources in Seoul, citing satellite images, have said that North Korea, which walked out of “six-party” disarmament talks three years ago, is also preparing a third nuclear test following the launch, something it did in 2009 and a move bound to trigger further condemnation and isolation. South Korea holds parliamentary elections on Wednesday, although the rocket does not appear to have been a major issue with voters more concerned about job security. US Secretary of State Hillary Clinton warned that history pointed to “additional provocations” from North Korea after the launch, an apparent reference to a nuclear test. “This launch will give credence to the view that North Korean leaders see improved relations with the outside world as a threat to their system,” she told cadets at the US Naval Academy in Annapolis, Maryland. “And recent history strongly suggests that additional provocations may follow.” She also called on China to do more to ensure regional stability. China, impoverished North Korea’s only major ally, on Wednesday reiterated its pleas for calm and said all sides should make efforts to establish peace in the region. -Reuters

BEIJING: China’s Communist Party has suspended a high-profile politician from its top ranks and named his wife as a suspect in a murder investigation over the death of a British businessman, the official Xinhua news agency has said. Tuesday’s decision to expel Bo Xilai, the former party chief in the city of Chongqing, from both the politburo and the central committee and to name his wife, Gu Kailai, as a murder suspect is likely to rattle leadership succession plans. “Comrade Bo Xilai is suspected of being involved in serious disciplinary violations,” said the news agency, citing the decision by the central party leadership. -AFP

Peru says rescue of nine trapped miners imminent ICA: Rescuers were closing in on nine workers trapped inside a wildcat mine in southern Peru on Tuesday and officials said they could be pulled to the surface within hours after spending five days underground. The men have been stuck about 656 feet below ground since the Cabeza de Negro gold-and-copper mine partially collapsed on Thursday. They have been receiving oxygen and liquids through a giant hose in place since before the accident. “We have a couple of meters (feet) left to go,” Mines and Energy Minister Jorge Merino told reporters at the site monitoring the digging operation. “We’ve advanced six meters (19.5 feet) in a tunnel that’s eight meters (26 feet) long.” -Reuters

Former Greek minister arrested for money laundering ATHENS: A former Greek minister was arrested onWednesday on money laundering charges, in the most high-profile case against a politician over scandals spanning decades in the debt-laden country. Television showed images of plainclothes police officers leading Akis Tsohatzopoulos away from his luxurious neo-classical mansion at the foot of the Athens Acropolis. His purchase of the mansion prompted the investigation. Greek authorities have stepped up arrests of tax dodgers and offenders lately, in an attempt to win popular backing for painful austerity measures that form the backbone of the country’s EU/IMF bailout. -Reuters

Malaysia enthrones new king in lavish ceremony KUALA LUMPUR: Malaysia’s new king called for equality for all in the multiethnic Asian nation as he was enthroned Wednesday in a lavish ceremony steeped in centuries-old royal traditions. Sultan Abdul Halim Mu’adzam Shah, 84, who was king previously in the 1970s, became the first person to hold the position twice under Malaysia’s unique rotating monarchy. The Oxford-educated king is a lover of jazz, football, polo and golf. The king, known as Yang di-Pertuan Agong or “He Who Is Made Lord”, formally took office in a televised ceremony in the yellow carpet throne room of the new hilltop palace in the capital Kuala

Lumpur. Prime Minister Najib Razak proclaimed Sultan Abdul Halim the 14th king, before an audience of other Malaysian sultans, government ministers and foreign dignitaries. The monarch, dressed in black and yellow royal regalia, made of wool and embroidered with gold threads, was presented with a Quran and then with the royal long dagger - a symbol of power and authority - which the king drew and kissed. He then took an oath of office to rule Malaysia in a fair manner, uphold the Islamic faith and ensure a just government. In his speech, Sultan Abdul Halim

praised Najib’s leadership and reminded the government to ensure prosperity for all Malaysians. “All Malaysians have equal rights ....It is my wish to see all Malaysians gain from the country’s development,” he said. Despite his merely ceremonial role, Malaysia’s king commands great respect from the public, especially majority Malays. The country’s sultans trace a lineage back to Malay sultanates of the 15th century. Portraits of the king and queen adorn government buildings throughout the country. The king is also the symbolic head of Islam in the nation, as well as the nominal chief of the military. -AFP

ALWATAN DAILY

OPINION

thursDAY, april 12, 2012

It is time to scrape off premier post once and for all Fuad Al-Hashem

he American Administration as well as the Israelis including the Europeans had asked the late Chairman Yasser Arafat to come up with a new position of prime minister within his authority. Arafat initially resisted the idea - as if he foretold that matters would be disastrous if this ever happened - but then as the pressure grew, Chairman Arafat acquiesced and a new prime minister was appointed. It was not long when Chairman Arafat was poisoned and murdered. He died feeling extremely sorry about his country which was descending to chaos. Now, part is ruled by Mahmoud Abbas and the other is ruled by Ismael Haniyah. I am relating this anecdote because nowadays some of the opposition is demanding that they too can be taking the position of the prime minister. I think that everyone is now contemplating the idea that they can be premiers. The way I see it is that in order to resolve the issue and deal with it before all members of parliament and their acquaintances too presume that they have the chance of becoming one, the position of prime minister gets scrapped off once and for all. There is no harm if we have a system of government where the premier post is not included. The Americans have it and the Saudis have it too. I promise you once we do away with it, the country will enjoy peace and quiet. No one then would say that the prime minister needs to be grilled. It is time that we all enjoy a country without any political strife. We need to enjoy a country without parliamentary disputes and quarrels. Still dealing with local issues, I have particular query

Why did Islamists win while liberals lost?

The issue should be verified with authentic documents to ascertain those who are violating the laws of the country.

which has been bugging me for some time. One of the MPs preferably Mohammad Al-Juwaihel or perhaps Nabeel AlFadhl can address it to the Minister of Foreign Affairs. The issue goes like this: I have received reports that some of the MPs are holding the United States of America passports and/or green cards. The reports point out that some were in the Parliament of 2009 and that some are of the current MPs. We need to verify such reports either way even if we end up contacting the Embassy of the United States. The issue should be verified with authentic documents to ascertain those who are violating the laws of the country. More of the local issues are to be spoken of but this time we are dealing with a funny joke related to a bridge scheduled to be built over the Al-Bida roundabout. The joke goes like this: if the proposed bridge will be built at the estimated cost of 40 million US dollars over a roundabout 200 meters in radius, then surely it is the roundabout which rotates around in circles while the vehicles remain stationary! Moving to some regional news related to the Gulf area. Around 100 fighter jets part of some of the air force in some of the Gulf Countries have joined the US Air Force on Monday. This is part of a joint drill seen as the biggest clandestine

air operation in the region since the downfall of Saddam Hussein in 2003. The joint drill will continue until April 15 near the Kingdom of Bahrain. As for the purpose of such an operation, it is to curtail any aerial attempt on the part of Tehran to close the Strait of Hormuz. Some brief news from the Egyptian capital. The candidate for the Egyptian presidency nominated by the Egyptian Brotherhood Khayrat Al-Shater warned in a meeting with the Spiritual Leader of the Brotherhood Mohammad Badi that the Muslim Brotherhood should muster all its power to stop General Omar Suleiman “otherwise he will crush us all.” On my part, I say that if General Omar Suleiman becomes indeed the president of Egypt, I seriously believe that they will seek asylum in Alaska! Now, let us turn to some of the interesting Syrian news. The Lebanese New TV satellite channel has lost one of its camera men as he was busy shooting the migration of defenseless innocent civilians running away for their lives across the Syrian Turkish borders. The name of the deceased camera man is Ali Shaaban, and he happens to be a Lebanese Shiite. He lived with his parents in an area called Huraik Quarter which is inciden-

tally located within the secure zone of Hezbollah and its divinely-inspired leader Hasan Nasrallah. It is obvious that the poor parents maintained a belief that by hanging a picture of the divinely-inspired leader Nasrallah which happens to be one meter by one meter inside their small apartment, it would grant their son the needed divinely-inspired immunity and make him unsusceptible to the Syrian army atrocities and shoot to kill policy. So, Ali Shaaban, equipped with his camera as well as with the divinely-inspired protection, began filming the mass exodus of innocent civilians as they were crossing the Turkish borders seeking a safe haven for their lives. I am sad to say that I have received reliable information which points out to the involvement of the Hezbollah’s intelligence in the murder of the cameraman. It was the intelligence apparatus who provided the exact grids of the New TV crew. The car and the team were machined gun by a Syrian patrol which was awaiting their arrival at the specified coordinates. The car and the body of Ali Shaaban were showered with no less than 50 bullets making the two more like fishing nets with the unmistakable number of holes visible to the eyes. The Kuwaiti people would recall how the Iraqis during the invasion back in 1990 feared the cameras. In fact, they feared any device that films more than any gun. The reason of course is that they didn’t want to have people documenting their atrocities. I may add here that it wasn’t really the Syrian army who murdered Ali Shaaban by the borders. In my opinion, it is those who provided the coordinates of the army to the horrible job of shooting innocent people.

BU QUTADA & BU NABIL

The Islamic movements have leading Islamic banks and they dominate many ministries as well.

Dad, today is Thursday ..... we need to go to an interesting place

No, no, we don’t like to go to the chalet as usual

Mmmm let’s go to the chalet

Then let’s go to the farm... to have a good time there

Dr. Shamlan Yousef Al-Esa

he local arena has witnessed during the last stage several symposiums, articles and lectures which criticized and attacks the icons of the National Liberal Movement as well as accusing them of not exerting effective efforts to face the influence of tribal figures and Islamists who swept the last parliamentary elections and obtained the majority of seats. Nobody doubts that the liberal thoughts are not well accepted at the present time because we submit new concepts which don’t exist in our social values and traditions such as personal freedom and the economic freedom. These noble concepts are not accepted by ordinary people as they interpret freedom as an irresponsible absolute freedom which in turn might lead to prosecution, and inappropriate behaviors. Some Islamists preachers rumored that liberal people look for enabling their sons, daughters and even wives to enjoy sexual freedom besides many other trivial accusations. They could not understand that the freedom that we call for is the responsible freedom which should be practiced according to regulations and laws. Liberals call for economic freedom in order to decrease the government domination over economy and to open the economy for honest competition away of monopoly. Liberals insist to have a civil state ruled by law and reject interference of religion in political affairs because such step undermines the principles of civil state. The MP Mohammad Hayef has filed an interpellation motion against the Minister of Awqaf just because he did not observe the Husainiya! Is this one of the MPs` priorities?! What we benefit- as Kuwaiti people- from undermining national unity?! The religious doctrine of the MP rejects coexisting with others who have different doctrines from his! As a result he doesn’t place interest in national unity as long as he has tribal supporters who elected him during the parliamentary election. The civil movements want a state of law where all people have equal rights and duties but some people don’t like applying laws over all people! Why did political Islam succeed? There are many reasons like the strict procedures in organizing, simple political and popular ideology wherein each Muslim believes that Islam is the solution. The Islamic movements in the Gulf countries cooperated with the governments to suppress the national and liberal movements. The Islamic movements have leading Islamic banks and they dominate many ministries as well. In the mean time nobody knows where they spend the funds that they get especially in Kuwait where the government fails to collect the electricity and water fees in addition to the fees of the other public services that the government submits to people. Finally all national and liberal powers have to get united and encourage youths to embody the concepts of the civil state, the state of law and constitution in order to achieve equality and maintain freedom for all people. we want a civil state not an Islamic one!

No, we don’t want to go to the farm

A wa l r i g h h a n t t t ... ve o l d o a g au y oo gh ou d t an im d e?

Clap, clap yeah ...,. Great

Yeah ... yeah

Oh fun... look at this he is insulting others

Oh .... the authority of national assembly is lost

Hey, do n’t both er th em th are ou r fr ie ndey s

Mohmmed Thallab

mthallab@alwatan.com.kw

Youths pay price for the inappropriate practices of MPs Waleed Jassem Al-Jassem

e don’t agree with what AlMilaifi has typed on social networking websites about Shiites and we also reject any attempts for stirring sectarian sedition and any issues that might affect peaceful coexistence. The thoughts of Al-Milaifi express a social situation which overwhelmed Al-Milaifi as well as many other figures who are expected to lead the country towards development. Those figures include MPs who showed dangerous sectarian tendencies within the last year. Such tendencies will affect in a

way or another the members of society and it could then lead to continuous sectarian congestion which is reflected by the articles of the writer, tweeting on Twitter, daily discussions especially in Diwaniya and it reached even the school students. So, the mistake of Al-Milaifi expresses a public social situation and it occurred before he could not control himself. We don’t intervene in the sentences of Judiciary and we don’t criticize them as well but we hope the judiciary would consider such social situations while appealing the sentence that was issued against Al-Milaifi recently. We hope such an idea to be taken into

consideration because there are many reasons we urge people to take rash decisions. One of the main reasons for this are the lawmakers themselves who lead people towards such sectarian tendencies. The absence of the government makes us feel that anybody has the right to do anything they want as long as they feel that they will not be punished! The people who want to insult others can do that and those who want to storm the public premises can do that because they believe that they will not be brought to justice! Therefore I hope the sentence that was issued against Al-Milaifi not to be as tough as the current one. I also hope the

court would take into consideration AlMilaifi’s apology to the Shiites which was published by Al-Watan newspaper. We hope all members of Parliament would be more rational and avoid any statements that might incite youths to commit similar mistakes because MPs are protected by the parliamentary immunity but the youths are not! Such mistakes might make youths spend some important years of their lives in jail! We criticize MPs because we are optimistic that they will serve the country and do right things for people but we don’t criticize the government because the government doesn’t exist!

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THURSDAY, APRIL 12, 2012

Eurozone chutzpah and the IMF Simon Tilford Project Syndicate

urozone policymakers and politicians are in no doubt: they have done their part to support the currency union’s struggling members by increasing the size of its rescue fund, the European Stability Mechanism (ESM). Now it is time for the rest of the world - that is, the International Monetary Fund - to step up and put additional funds on the table, and European finance ministers are making that case at the IMF/World Bank meetings in Washington European officials, in other words, take for granted that the IMF should support the euro zone, as if the rest of the world had some kind of duty to do so. In reality, even if euro zone governments could agree on a much larger increase in the ESM’s size, there are compelling reasons why the IMF should refrain from offering any further support. Europe’s leaders cannot decide if the euro zone is a federation akin to the United States or a group of independent states. They frequently compare the euro zone favorably to other developed economies. Euro zone members as a whole, they argue, have a lower budget deficit than the US and the United Kingdom, and a similar level of public debt. Unlike the US and the UK, the euro zone in aggregate is running a current-account surplus it is, as policymakers like to say, living “within its means”. And they express considerable pride in the euro’s growing role as an international reserve currency, as well as resolve to do whatever it takes to defend the currency union’s integrity. And yet the same policymakers believe that the rest of the world should bail out the euro zone. When it suits them, the euro is no longer the currency of a highly successful and integrated economy, but a currency shared by a collection of sovereign creditor and debtor countries, and the IMF thus has a responsibility to support the debtor members. That is an odd position to take, to say the least. Imagine that the US federal government decided that it no longer wanted to support Mississippi and demanded support for that poor southern state from the IMF. The rest of the world - led by the euro zone governments - would rightly turn their backs. Similarly, the IMF is not expected to help India - whose per capita GDP is less than a tenth of euro zone levels - to finance the poverty-stricken states of

A general view shows Madrid’s bourse April 10, 2012. (Reuters)

Euro zone members as a whole, they argue, have a lower budget deficit than the US and the United Kingdom, and a similar level of public debt. Bihar and Uttar Pradesh. The euro zone wants it both ways. Its debtors and creditors are all members of the same, wealthy currency union, whose current-account surplus with the rest of the world means that it is a net exporter of capital that is, domes-

tic savings exceed domestic investment. Moreover, the euro zone’s strategy for dealing with the crisis implicitly relies on a rising surplus: member states with current-account deficits are under pressure to close them, but creditor countries face no pressure to reduce their sur-

Argentina, Elliott, and the pari passu war Felix Salmon Reuters

nna Gelpern puts it well: “for the small but committed contingent of pari passu pointy heads, this is World Cup Olympic March Madness Super Bowl.” I’m one of the contingent, and I’ve been actively enjoying myself reading various appeals and amici briefs in the case of Elliott Associates versus Argentina. Technically, it’s not Elliott Associates but rather NML, an Elliott sub-fund, but make no mistake: this is very much a fight between Argentina and the most famous vulture fund in the world. Elliott, which is run by the billionaire Republican activist Paul Singer, has suffered a rare and public loss with respect to its Argentina strategy. It bought up Argentine debt around the time the country defaulted, and then refused to enter into the country’s bond exchange, taking its chances in US court instead. That, in hindsight, was a mistake: Argentina’s new bonds, turbo-charged with GDP warrants, performed extremely well. While its defaulted debt has gone absolutely nowhere. When Elliott started litigating its defaulted debt a decade ago, it quite explicitly told the judge in the US Southern District, Thomas Griesa, that it wouldn’t wheel out the most notorious and legally dubious weapon in its arsenal: the pari passu argument it used to devastating effect against Peru in 2000. In 2003, indeed, Argentina’s lawyers asked the court for a declaration that the argument was legally bonkers; the only reason that Griesa didn’t provide that declaration was that Elliott Associates - in line with all the other holdout creditors - said that it had no intention of making the argument, “at any time in the near or distant future”. In fact, Elliott was just playing the waiting game - waiting, that is, for 91 percent of the other creditors to go away, persuaded by Argentina to accept its exchange offer. And then, after a decent amount of time - five years - it suddenly decided that it was going to attempt to use its rather odd pari passu argument after all. Waiting that long held dangers, since it smells of what lawyers call “laches” - unreasonable delay in making a claim. But it was also quite smart, since at that point Elliott had been fighting Argentina in front of Judge Griesa for a decade, and Griesa was officially Fed Up with the whole thing and just wanted to make it go away. Griesa’s orders (here here here) are notable for their lack of legal reasoning: Griesa is throwing his hands in the air, here, and basically punting the whole issue up to the appeals court. Each one is very short, certainly in comparison to the long, compelling, and clearly-argued amici briefs, let alone Argentina’s masterful, 84-page response. After reading that, and the briefs from the Justice Department and The Clearing House , it’s basically impossible to see how Griesa’s order can possibly be upheld on appeal. It’s hard to count the number of reasons why Griesa’s ruling doesn’t make sense, but it’s worth running down a few of them. For one thing, the whole thing is based on the “ratable payment” reading of the pari passu clause - that, in the words of NYU law professor Andreas Lowenfeld, “a borrower from Tom, Dick, and Harry can’t say ‘I will pay Tom and Dick in full, and if there is anything left over I’ll pay Harry’.” Unfortunately, that’s exactly what the borrower can do. If I owe money to my landlord and to my credit-card issuer and to my brother-in-law, it’s up to me which of them I repay, and in which order. All those creditors might have legal recourse if I don’t pay them. But the landlord can’t claim the money I’m paying to my brother-in-law, nor vice-versa. In this case, Argentina is paying the holders of its new bonds, or, to be precise, it’s paying the trustee who accepts money on their behalf. Once it has transferred money to the trustee, that money no longer belongs to Argentina: it belongs to the new bondholders, the people who accepted a large haircut on their debt as part of Argentina’s bond exchange. What’s scary about Griesa’s order is that he’s ordering and injunctioning not only Argentina, but also the innocent bondholders of Argentina’s new debt. It’s almost impossible to see why they should be paying off Elliott, especially since Elliott wants to be paid all principal and interest payments on its bonds, sans any kind of haircut at all.

The problem for Elliott, here, is that it rushed, very soon after Argentina defaulted, to convert its Argentine bonds into court judgments.

That doesn’t sound very pari passu to me, if all the other bondholders have taken a 70 percent haircut. The problem for Elliott, here, is that it rushed, very soon after Argentina defaulted, to convert its Argentine bonds into court judgments. That’s easy: any bondholder who has been defaulted on can become a judgment creditor pretty easily. But becoming a judgment creditor also happens to be the remedy, in the bond documentation, if Argentina violates the pari passu clause. Which, incidentally, no one knows what it means. Griesa, in going after the trustee for other Argentine creditors, is going well beyond the letter of the contract, just because that seems to be the only way of getting Argentina’s attention. Certainly Argentina has no intention of paying Elliott anything. The country’s view of Elliott is that it’s an annoyance, which is causing it to rack up millions of dollars in legal expenses. And as a result, Griesa’s view of Argentina is that while it will happily send expensive lawyers to appear in front of him on a regular basis, it will never actually pay the plaintiffs, no matter what he rules. Which is why, I think, he finally cracked and issued this pari passu ruling: it was the only way he could think of to get Argentina’s attention. The ruling doesn’t make a lot of sense. For one thing, it requires that Elliott will suffer “irreparable harm” if it isn’t paid. But of course the harm here isn’t irreparable: it’s just money. You pay Elliott money, the harm goes way.That’s pretty much the definition of reparable harm. And then there’s the fraught sovereign-immunity aspect of everything: Griesa’s ruling flies in the face of the Foreign Sovereign Immunities Act, which for obvious reasons the U.S. and most other countries are big fans of. Argentina did waive its sovereign immunity in its original bond issue, but the degree to which that’s even really possible is far from settled under case law. All of which is to say that Reynolds Holding is wrong when he says that Elliot has “shown it’s possible to win against debtor nations”. Elliott has been a judgment creditor of Argentina for a decade now, and it’s still a judgment creditor: Griesa is a judge, and he can’t ultimately do much more than hand down judgments. The difficult bit has never been getting a court to rule that you’re owed money: that’s the easy bit. The difficult bit is actually collecting on that judgment. And the base-case scenario here is that Elliott is not going to collect. In fact, the sovereign-debt world is probably a little bit relieved that the Court of Appeals now has the opportunity, once and for all, to set a clear precedent on what the pari passu clause really means in sovereign debt contracts. This issue has been up in the air for far too long, unhappily for sovereigns. When Griesa gets his ruling overturned on appeal, we’ll finally have the pari passuruling we’ve been waiting for since 2000. Of course, it’s conceivably possible that the appeals court will uphold Griesa’s ruling, and thereby deal a massive and pretty much unenforceable blow to sovereign debt management around the world. But it’s very unlikely. Elliott might have won the battle for its unorthodox pari passu interpretation. But in doing so, it’s set itself up for losing the war. Felix Salmon is the finance blogger at Reuters. The opinions expressed are his own.

pluses. So, a region that is essentially pursuing a mercantilist strategy now wants the rest of the world to finance it. Many European leaders believe that the rest of the world owes the euro zone a bailout because the currency union is just an innocent

Whose World Bank? Joseph E. Stiglitz Project Syndicate

S President Barack Obama’s nomination of Jim Yong Kim for the presidency of the World Bank has been well received - and rightly so, especially given some of the other names that were bandied about. In Kim, a public-health professor who is now President of Dartmouth University and previously led the World Health Organization’s HIV/AIDS department, the United States has put forward a good candidate. But the candidate’s nationality, and the nominating country - whether small and poor or large and rich - should play no role in determining who gets the job. The World Bank’s 11 executive directors from emerging and developing countries have put forward two excellent candidates, Ngozi Okonjo-Iweala of Nigeria and Jose Antonio Ocampo of Colombia. I have worked closely with both of them. Both are first-rate, have served as ministers with multiple portfolios, have performed admirably in top positions in multilateral organizations, and have the diplomatic skills and professional competence to do an outstanding job. They understand finance and economics, the bread and butter of the World Bank, and have a network of connections to leverage the Bank’s effectiveness. Okonjo-Iweala brings an insider’s knowledge of the institution. Ocampo, like Kim, brings the advantages and disadvantages of being an outsider; but Ocampo, a distinguished professor at Columbia University, is thoroughly acquainted with the World Bank. He previously served not only as minister of economics and finance, but also of agriculture - a critically important qualification, given that the vast majority of the developing countries’ poor depend on farming. He also brings impressive environmental credentials, addressing another of the Bank’s central concerns. Both Okonjo-Iweala and Ocampo understand the role of international financial institutions in providing global public goods. Throughout their careers, their hearts and minds have been devoted to development, and to fulfilling the World Bank’s mission of eliminating poverty. They have set a high bar for any American candidate. Much is at stake. Almost two billion people remain in poverty in the developing world, and, while the World Bank cannot solve the problem on its own, it plays a leading role. Despite its name, the Bank is primarily an international development institution. Kim’s specialty, public health, is critical, and the Bank has long supported innovative initiatives in this field. But health is only a small part of the Bank’s “portfolio,” and it typically works in this area with partners who bring to the table expertise in medicine. Rumors suggest that the US is likely to insist on maintaining the perverse selection process in which it gets to pick the World Bank’s president, simply because, in this election year, Obama’s opponents would trumpet loss of control over the choice as a sign of weakness. And

bystander. Despite being well run and fundamentally more stable than other economies, the markets or “speculators” are making it impossible for the euro zone’s struggling members to achieve the necessary adjustments. So the euro zone deserves protection from international forces intent on destroying it. This rationale highlights the core of the problem: the euro zone is institutionally incomplete, and euro zone policymakers continue to blame investors for pointing this out. In every currency union, there are creditor and debtor regions. Just as it is the responsibility of creditor regions in the world’s other currency unions to support the debtor regions which they do through a variety of means, it is up to the euro zone’s creditor regions to underpin its debtor regions’ solvency. This requires debt mutualization, fiscal transfers between member states, and, of course, federal institutions to give all of this legitimacy. A second reason given by euro zone policymakers to justify their demand for more IMF support is basically a form of blackmail: the global consequences of a further euro zone crisis would be so grave that the IMF has no choice but to do whatever it can to prevent it. Much poorer countries, and those routinely criticized by euro zone policymakers for their indebtedness such as the US and the UK, should provide support to a wealthy creditor in order to prevent it from inflicting incalculable damage on the global economy. This is akin to making the rest of the world an offer that it can’t refuse. The rest of the world has no moral responsibility to support the euro zone, and it should resist European leaders’ efforts to extort that support, which would be tantamount to covert support for its creditor countries. That would be an unjustified use of IMF resources, and would further confirm the suspicion among the world’s emerging economies that the IMF is in thrall to Western interests. The IMF should stick to supporting countries with temporary external-financing problems; a wealthy creditor region that refuses to address its institutional contradictions is not a deserving case. If euro zone governments are unwilling to build the federal institutions needed to stabilize the euro zone, they should either assemble a big enough rescue fund themselves, or accept that the single currency is unworkable in its current form. Simon Tilford is Chief Economist at the Center for European Reform.

Despite its name, the Bank is primarily an international development institution. it is more important for the US to retain that control than it is for emerging and developing countries to obtain it. Indeed, the more powerful of the emerging markets know how to live within the current system, and they may use it to their advantage. They will, in effect, obtain an IOU, to be cashed in for something that is more important. The Realpolitik of the moment makes fighting over the presidency unlikely; America may well prevail. But at what cost? Should America continue to insist on controlling the selection process, it is the Bank itself that would suffer. For years, the Bank’s effectiveness was compromised because it was seen, in part, as a tool of Western governments and their countries’ financial and corporate sectors. Ironically, even America’s long-term interests would be best served by a commitment - not just in words, but also in deeds - to a meritbased system and good governance. One supposed achievement of the G-20 was an agreement to reform the governance of the international financial institutions - most importantly, how their leaders are selected. Since expertise on development by and large lies within the emerging and developing countries - after all, they live development - it seems natural that the World Bank’s head would come from one of those countries. To maintain a cabal among developed countries, whereby the US appoints the World Bank president and Europe picks the International Monetary Fund’s head, seems particularly anachronistic and perplexing today, when the Bank and the Fund are turning to emerging-market countries as a source of funds. While the US, the international community, and the Bank itself repeatedly emphasize the importance of good governance, a selection procedure that de facto leaves the appointment to the US president makes a mockery of it. Okonjo-Iweala put the matter forcefully in an interview with The Financial Times: what is at stake is a matter of hypocrisy. The integrity of the advanced industrial countries, which have a majority of the votes at the World Bank, is being put to the test. Joseph E. Stiglitz is University Professor at Columbia University, a Nobel laureate in economics, and the author of Freefall: Free Markets and the Sinking of the Global Economy.

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

Police stations Tel.:

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

Ambulance

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

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

Private Hospitals

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

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

Adan General Hospital Al-Sabah Chest Hospital Al-Sabah Maternity Hospital Amiri General Hospital As’ad Al-Hamad Dermatology Center Farwaniya General Hospital Ibn Sina Hospital Jahra General Hospital Mubarak Al-Kabeer General Hospital Subhan Renal Hospital Sulaibikhat Orthopedic Hospital

25624000 22802555 1828282 1883883 25726666 22533177

Private Health Centers/ Clinics

Boushahri Clinic British Medical Center Care Clinic International Clinic

Public Hospitals

cons u l a tes

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

centr a l 4 7 2 2 0 0 0

94904040

hospital charges

medical services

Call, sms, Email us

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

23940600 24815000 24848067 22450080

1885544 23713100 22610666 25745111

Public Health Centers/ Clinics:

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

24832067 24883000 24840300 24575300 25312700 24840027 24874240

22447602 22545188 24726033 22611645 25750777 25524821 25723500 25610660 24848913 25336482

DOCTORS & DENTISTS

I N PR I VAT E PR AC T ICE

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

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

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

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

2565 0064 2533 3501

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

2572 8004 2532 9924

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

Cosmetic Surgeon Dr. Adel Quttainah

2562 5030 / 60

Ministries

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

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

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

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

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

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

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

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

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

Noodles Salmiya Tel: 25712233

Bukhara Sheraton Hotel Tel: 22422055

The Peacock Radisson Blu Hotel Tel: 25673000

Tourist Restaurant Kuwait City Tel: 22411702

Noodle Factory Avenues Tel: 24954751

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

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

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

Tel: 22997000

L I S T I N G S

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

Kuwait City Tel: 22400737

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

Sakura Crowne Plaza Hotel Tel: 24742000

AlRoshinah Restaurant Safir Hotel & Residences -Fintas Tel: 25455555

Shogun The Palms Hotel Tel: 27070022

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

Manousha Salmiya Tel: 25722607 / 8

Al-Noukhaza Crowne Plaza Hotel Tel: 24742000

Fakhr Al-Din Restaurant Kuwait City Tel: 22423180

Villa Fairouz Shaab Tel: 22652030

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

Garden New Park Hotel Tel: 25634200

Yeldes Palace Kuwait City Tel: 22455212

Kabab-Ji Tel: 1861616

Zahrat Tunis Hawalli Tel: 22662444/333

Mais Al-Ghanim Kuwait City Tel: 22402590

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

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

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

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

Shabistan Crowne Plaza Hotel Tel: 24742000

The Gaucho Grill The Palms Hotel Tel: 25667370 -

• Seafood Al-Ahmadi Crowne Plaza Hotel Tel: 24742000

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

Al-Boom Radisson Blu Hotel Tel: 25756000

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

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

Flavors Restaurant Safir Hotel & Residences -Fintas Tel: 25455555

• Italian Ciro’s Pomodoro Kuwait City Tel: 22424004

Saj Express Kuwait City Tel: 22497822

Te l : 1 8 3 9 0 9 0

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

HOTELS

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

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

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

22452740 22997000 23281897 22415001

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

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

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

22528766 22465489 22443136 22532100 25742410 25713872 22928080

TWO STAR International Hotel Kuwait Residence Hotel

25741788 22467560

BUSINESS

thursdAY, april 12, 2012

mar ket watc h KUWAIT 0.25% 6164

DUBAI

QATAR

0.4% 1672

0.1% 8760

OMAN 0.4% 5907

Japan’s Cosmo Oil buys Saudi crude from Okinawa storage TOKYO: Japanese refiner Cosmo Oil has bought 200,000 kilolitres (1.26 million barrels) of Saudi Arabian crude from storage in Japan to fill its spot requirements, industry sources familiar with the matter said on Wednesday. The May-loading crude will be shipped from Saudi Aramco’s leased storage in the southwestern Japanese island of Okinawa, the sources said, adding that this marks the first time that a Japanese refiner has bought a spot Saudi crude cargo from Okinawa. See page 10

OIL M A RKE TS

ABU DHABI

BAHRAIN

0.6% 2532

0.1% 1134

EGYPT

SAUDI

2.1% 4652

0.3% 7573

US Crude $101.55 $0.53 London Brent $119.54 $0.34 Kuwait Crude $119.00 $.029 Information Courtesy: KAMCO

CURRE NCIE S US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2781 Sell 0.2783 Buy 0.365 Sell 0.3657

Kuwait cuts May crude OSP to Asia by 10 cents per barrel Oil slips below $120, inventories weigh

CAPITALS: Kuwait has cut the official selling price (OSP) for its crude oil sales to Asian buyers for May by 10 cents a barrel from the previous month to 0.60 US dollars a barrel above the average of Oman/Dubai quotes, a trade source said on Wednesday. The April OSP was $0.70 a barrel above the Oman/ Dubai average. Kuwait’s crude price formula is loosely linked to that of Saudi Arabia’s Arab Medium grade. In more news, oil slipped below $120 a barrel on Wednesday and traded near its lowest in almost two months, pressured by rising US inventories and concern about the strength of global demand. Brent crude fell further a day after posting its biggest one-day percentage drop this year as part of a wider selloff in financial markets. In contrast, European shares and the euro staged a recovery on Wednesday. North Sea Brent was down 42 US cents at $119.46 a barrel by 1256 GMT, after falling as low as $119.05, the lowest since Feb. 17. Its 2.27 percent slide on Tuesday was the biggest one-day percentage loss since Dec. 14. US crude was up 25 cents to $101.27, narrowing Brent’s premium to US crude to just above $18. On Tuesday, US crude settled down $1.44 at $101.02. Global benchmark Brent has risen 11 percent this year, supported by supply outages and the threat of disruption from Iran, although in recent sessions concern about rising inventories and demand has come to the foreground. The US Energy Information Administration (EIA) on Tuesday cut its 2012 world oil demand growth forecast and later on Wednesday releases its weekly US supply report, which analysts expect will show a further increase in crude stocks. Tuesday’s session was the first time Brent has traded below $120 since Feb. 21. A further close below that

Buy 0.006511 Sell 0.006495

Prices in Kuwaiti fils As of April 11, 2012 Courtesy: KAMCO

BUSINESS MATTERS

Characteristics of ‘right’ customers for your business

You may be the problem!

To be honest, what was wrong wasn’t just the business. It was the business owner! Fix the owner, and the business would become a dream fulfilled. “Tell me,” I asked my client (just as Gerber had once asked me), “what does your ‘right’ customer look like?” “I don’t know,” he answered. “I’ve got all kinds of customers. It’s difficult to tell one from another.” A woman walks amid shelves at a shoes market in Hefei, Anhui province April 11, 2012. China’s economy likely grew at its slowest pace in nearly three years between January and March at just 8.3 percent, which would be the lowest level since the second quarter of 2009. In the last quarter of 2011, the yearon-year rate was 8.9 percent. (Reuters)

mark could bring lower levels still into focus, a technical analyst said. Traders will be looking to see if the figures confirm those of industry group the American Petroleum

Staff Writer

Institute, which on Tuesday reported crude stocks rose 6.6 million barrels, more than three times the forecast increase of 2.1 million barrels. -Agencies

Former ECB President Jean Claude Trichet speaks at NBK’s International Symposium

and has undergone three major phases, namely, the financial turbulence of late 2007 to 2008; the intensification of the crisis multiplied by the collapse of Lehman Brothers and the rapidity of the transmission of financial shocks and most recently, the eurozone’s sovereign risk problems. “In a few ‘half-days’ the whole world changed,” he said, emphasizing that it was possibly worse that the Great Depression of 1929 in terms of the rapidity of transmission of the shockwaves felt across the globe, following the Lehman Brothers collapse and the intensifica-

tion of credit crunch. Trichet highlighted that the US had been the epicenter for the first two episodes of the global financial crisis but that this shifted to Euorpe and the eurozone in particular with the start of the sovereign debt difficulties in Greece and elsewhere. The former ECB head warned that the key to the eurozone’s future would be a matter of governance. “The eurozone is not particularly vulnerable. The euro retains a remarkable level of confidence and credibility. The euro is solid because it keeps its value and has gone through five years of the crisis untouched,” he said. But ‘benign neglect’ of individual governments to adhere to and enforce strict fiscal policies and to imbalances in the competitiveness of various eurozone countries fueled the current sovereign risk crisis. He stressed the importance of a proper framework which was solid and built upon rules, regulations and procedures of control in addition to sound fiscal policies. Interestingly enough, Trichet from his experience of the euro, applied what he said was suggestions on the feasible working of the future unified currency of the GCC. “Don’t trust those who say we cannot work within too tight a framework, it needs some oxygen room to breathe,” he said in response to the fact that three major countries in the eurozone did not support a tight framework. “In order to make a single currency in a single market with no full fledged political federation, in my opinion, requires a solid framework for its fiscal policy and budget and strong control of that framework,” he said. In conclusion, Trichet stressed that as part of global governance, no complacency should be displayed and every party of the global community should be conscious of the fact that it will not be tolerated.

Al-Argan International Real Estate Company issues KD 26.5 million bond KUWAIT: Al-Argan International Real Estate Company. Kuwait Projects Company (KIPCO) Asset Management Company (KAMCO), Burgan Bank and Kuwait Financial Center (Markaz) have announced the issuance of 26.5 million Kuwaiti dinar bonds for Al-Argan. The timing of the issuance of the Al Argan bonds is to be considered highly opportunistic as it comes on the heels of the recovery of the local real estate companies’ bonds market, which has not had a bond issuance since June 2010. Furthermore, the bonds have been rated ‘BBB’ by the ratings agency ‘Capital Intelligence’. The maturity period for these bonds is five years and is issued in two tranches; the first tranche is worth KD 23.2 million with a fixed interest rate of 6.25 percent annually. The second Tranche is worth KD 3.3 million with a floating interest rate

Buy 0.7369 Sell 0.73832

Buy 0.005406 Sell 0.005395

KUWAIT: Just joining us? Catch up with this series in the archives at alwatandaily.com. Michael Gerber saved me from my business. I stayed up all night to read his book, The E Myth, and it was one of the best investments of my life. Without even knowing that my business existed, he knew precisely what was wrong with it. And over a period of months, he showed me how to fix it.

Darlynn Amara

Staff Writer

Buy 0.07564 Sell 0.07578

Buy 0.07645 Sell 0.07630

Exclusive to Al Watan Daily

NBK hosts former ECB president to share views

Ricky Laxa

Buy 0.003437 Sell 0.003445

Buy 0.0741 Sell 0.0742

Dr. John P. Hayes

Trichet recommends solid governance for future GCC unified currency

CAPITALS: Former European Central Bank (ECB) President Jean Claude Trichet suggested, at an annual international symposium hosted by the National Bank of Kuwait on Tuesday, that a future unified currency of the Gulf Cooperation Council (GCC) members will require strong governance and a solid framework for budget and fiscal policies. Ibrahim Dabdoub, NBK Group Chief Executive Officer opened the symposium welcoming the former central banker saying, “In the last year or so, the central focus of the world of banking and finance has been on Europe and the euro zone. What happens to the world’s second largest economy and its unified currency has momentous importance, both for the short and long term.” “With this in mind, NBK has invited Trichet to speak at the symposium. With more than 30 years of European financial and policy leadership, Trichet is an authority on the euro zone and the global economic system. We thank him for coming to speak with us and shedding light on these very critical issues,” Dabdoub added. Trichet is also a former Governor of Banque de France and served two terms as ECB president and was thus able to offer lessons on the euro zone sovereign debt crisis and the global economy since 2007. He explained that advanced economies of the world are currently experiencing an episode he calls ‘structural adaptation’ - one of three episodes - to the new global economy. In 2007 the global economic crisis broke open

Buy 0.4421 Sell 0.4429

of 3.50 percent annually above the Central Bank of Kuwait discount rate, which currently stands at 2.50 percent, and is capped at 7.00 percent. The Company’s Chairman and Managing Director, Mr. Khalid Khudair AlMashaan, told Al-Watan Daily, “Today is available as tools for borrowing in Kuwait for short term but aims at medium financing. The best way to do that is to issue bonds, wherein we are able to achieve an investment grade and eventually went to public for such bonds. It gives us the competitive rate as compared to banks and such is a good thing that we achieve as recognition that reflects transparency of our company and trust on our investors. What you see here now is a complete development and we want to take it bigger, the four and five stars, which are the biggest ones in Kuwait. The expansion in Saudi Arabia, Oman and Bahrain is important relatively for us to reinforce with new subjects and also focus on our niche.”

As for the Executive Vice President and Head of Financial Services and Investment Division of KAMCO Faisal M. Sarkhou said, “The client has evolved as company and we look at the equity and debt sides. Equity side to become listed and debt sides the bond issues for a company and proper structures to having loans with the banks are milestone. Furthermore, CEO and Managing Director of KAMCO, Sadoun Abdullah Ali, commented, “We are very proud to have taken part and lent our assistance and expertise to such a project, and believe that the bond market will bring forth significant returns to all investors. We at KAMCO have a firm interest in the development and support of the issuance of bonds and Sukuks to diversify debt restructuring instruments to local businesses. This in turn will help stabilize the economic and real estate state-of-being in the Kuwaiti capital market.” From Markaz’s side, CO Manaf Al-

Hajeri added, “The synergy between Markaz, Al- Argan, KAMCO, and Burgan has resulted in the issuance of bonds at a crucial time. We are pleased to have contributed to their launch. Indeed, we place great emphasis on the development of the local bond market, whether it is through primary issuance restructuring or via the secondary market. To this effect, we regularly publish research reports on all aspects of the bond market, we aim to support all institutions in Kuwait with frozen bonds in order to encourage local issuances.” To conclude, Burgan Bank’s Senior General Manager, Investment Banking and Treasury, May Al-Mudhaf, added, “Over the last period, we have provided financial assistance to successful companies such as Al Argan. In fact, the issuance of these bonds encourages companies with solid financial position to issue bonds, Sukuks, and even bank loans to offer companies the solvency they need.”

Can you describe your best customer?

Problem! If you can’t describe your best customers - not physically, but characteristically - how can you possibly attract more of them? How would you know where to look for them? If you don’t know who they are, how can you target your advertising to find them? Chances are your advertising is attracting customers you don’t want. “Are they male or female?” Gerber asked me. Before I could answer he continued, rapidly, “What kind of car do they drive? Are they married or single? How many children do they have? What’s their religious affiliation? Where do they shop for clothing? Where do they go on vacation? Do they read books? What TV programs do they watch? . . . .” “I don’t know,” I said, frustrated that he was asking me these questions. “Well,” he replied, “unless you’re okay with this horrible business that you own, you better find out!” And people say that I’m rude! Surprise, they look alike

I spent the next 90 days gathering information about the characteristics of my clients. Then I compared the characteristics of the five clients I liked most. To my surprise, even though they didn’t know each other, those five shared many qualities. When I compared those characteristics to the five clients I liked least - surprise again! They didn’t match up. “Make a list of the characteristics shared by your ‘right’ customers,” I told my client. (I defined “right” customers last week). “After you do that, you’ll know where to find them. You’ll know what they read. What they watch. You’ll know if they use social media. You’ll know which media to use to invite them to do business with you.” “If I do this,” my client responded, “you’re saying I won’t get any wrong customers?” “You’ll always get wrong customers,” I explained. “The trick is to make sure the right customers dominate your customer base. Until you do that, your business will continue killing you, financially and literally.” How can you improve your business? Dr. John Hayes will help you discover points of opportunity. Free analysis for qualifying businesses. Send a paragraph describing your business; selected businesses may be featured in Business Matters. Dr. Hayes has worked with franchisors, franchisees and small business owners internationally. He is a professor in the College of Business at GUST. Contact him at questions@hayesworldwide.com, or via Twitter @drjohnhayes. 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.

KSE ends trading with 15.6 point gain CAPITALS: Kuwait Stock Exchange (KSE) closed Wednesday in mixed zones. The price index read 6,164.3 points at a gain of 15.6 points, while the weighted index came to 409.38 points, down by 0.62 points. Trades came to 3,079 transactions, worth 22,370,650 Kuwaiti dinars, and volume reached 179,640,000 shares. Within the sectors, the top gainer was industrial sector while the biggest loser was the banking sector. Gainer share of the day was Equipment Holding Company, while the biggest loser was Strategia Investments Company. The top volume stock went to the Gulf Finance House. In more news, Commercial Bank of Kuwait will hold its annual general meeting on April 29, after which trading in its shares will be resumed, Kuwait’s bourse said in a statement on Wednesday. Kuwait Stock Exchange (KSE) has halted trading in CBK earlier this month until the bank holds its AGM. Shares of several other companies in Kuwait have also been suspended after firms were unable to report earnings on time. CBK’s board has proposed no cash dividend to be paid for 2011, and the election of a new board members for the next three years, the bourse said in the statement. -Agencies

ALWATAN DAILY

BUSINESS

thursDAY, april 12, 2012

Japan’s Cosmo Oil buys Saudi crude from Okinawa storage Ship insurer sets new rules on Iran oil voyages

TOKYO: Japanese refiner Cosmo Oil has bought 200,000 kilolitres (1.26 million barrels) of Saudi Arabian crude from storage in Japan to fill its spot requirements, industry sources familiar with the matter said on Wednesday. The May-loading crude will be shipped from Saudi Aramco’s leased storage in the southwestern Japanese island of Okinawa, the sources said, adding that this marks the first time that a Japanese refiner has bought a spot Saudi crude cargo from Okinawa. The purchase does not have any relation to the tightening global sanctions against Iran and Cosmo can buy more spot Saudi crude from Okinawa if it makes economic sense in comparison with other spot cargoes, the sources said. The US and European Union (EU) have tightened measures aimed at reducing Iran’s oil trade, stemming the flow of petrodollars to Tehran to force the Islamic Republic to halt a nuclear program the West suspects is intended to produce weapons. Cosmo Oil has already lowered its Iran crude imports to a little below 30,000 barrels per day (bpd) since January from about 40,000 bpd last year, and is in talks to renew its contract with the Islamic Republic from April. Saudi Aramco, the world’s top oil producer, started shipping crude to Okinawa in February 2011 as part of an agreement with staterun Japan Oil, Gas and Metals National Corp (JOGMEC) to store about 3.8 million barrels of crude there for three years.

FILE- An oil tanker is moored at an oil loading platform adjacent to an oil refinery in Kawasaki, west of Tokyo, Monday, Feb. 20, 2012. Japanese refiner Cosmo Oil has bought 200,000 kilolitres (1.26 million barrels) of Saudi Arabian crude from storage in Japan to fill its spot requirements, industry sources familiar with the matter said on Wednesday. (AP)

While Aramco was mainly seeking to enhance the kingdom’s access to northeast Asian markets, the storage in Okinawa also provides a platform to increase exports to top oil consumer the United States. In other news, ship owners covered by Japan P&I club must alert the maritime insurer

in advance of any plans to transport Iranian oil and petrochemicals that could fall foul of Western sanctions, the insurer said. The United States and European Union (EU) have tightened measures aimed at reducing Iran’s oil trade, stemming the flow of petrodollars to Tehran to force the Organization of

Inauguration marks opening of new business venture for Juffali, Dow JEDDAH: On March 28, the new Arabian Chemical Polyurethane Systems House, a branch of Juffali Chemical Products Co, was inaugurated in Jeddah with a ceremony attended by guests including customers from across Saudi Arabia and neighboring countries as well as business executives from The Dow Chemical Company and E.A. Juffali & Bros. Special guests included Sheikh Hatem Ali Juffali, chairman of the Juffali Chemical Group, Amin Al-Afifi, Chief Executive Officer (CEO) Juffali Group, Markus Wildi, president Dow Middle East and Dr. Zuhair Allawi, vice president Dow Saudi Arabia Co. The new Polyurethane (PU) Systems House plant will produce Dow polyurethane systems for various applications and will contribute to Dow Formulated System’s global network of more than 30 system houses around the world. “We have been partnering with Dow in a variety of businesses since 1976, and this important alliance allows us to further strengthen our relationship, increasing our ability to sustain the dynamic growth of our customers in this region. By investing in a new dedicated manufacturing plant in Jeddah, E.A. Juffali and Brothers ultimately strive to facilitate our loyal customers’ success in their respective markets, anticipating their needs and helping them fulfill their aspirations” said Dr. Souhail El-Farouki, General Manager of Juffali

Chemical Group. Dow Formulated Systems, a global business unit of The Dow Chemical Company and Saudi Arabian industrial conglomerate E.A. Juffali & Brothers signed the alliance for the Arabian Chemical Polyurethane Systems House in 2010. The two companies have three long-standing joint ventures, the earliest dating back to 1976. Immediately following the ceremony, guests were given a tour of the new facility which featured an exhibition of end products utilizing the formulated systems produced at the new Arabian Chemical Polyurethane Systems House plant. The samples on display ranged from refrigerators, insulation boards, furnishing, heaters, coolers, decorative material to footwear and gave guests a preview of the typical end uses as well as the diversity of PU applications. “This project marks an important milestone for Dow in Saudi Arabia and emphasizes Dow’s commitment to this geographic area and this market where the value of innovation and technology are recognized” said Dr. Allawi, “It will further enhance our ability to combine our innovation, technology, and know how in the PU systems business with the entrepreneurial spirit and local market knowledge of Juffali to deliver tailor made solutions to our customers throughout the region.”

ADB cuts growth forecasts for emerging Asia to 6.9% TOKYO: Growth of developing Asian economies will slow to 6.9 percent this year, down from a 7.2 percent growth in 2011, due to the weak global demand, the Asian Development Bank (ADB) said Wednesday. But in its Asian Development Outlook 2012, the Manila-based lender forecast Asia’s gross domestic product (GDP), excluding Japan and other industrialized countries, to expand 7.3 percent in 2013, saying that growth rates in most economies remain robust and should tick back up in 2013 with private consumption providing support. “Developing Asia started to feel the impact of the most recent global slowdown late in 2011,” the ADB said in the report. “Assuming that the global economy gradually picks up toward end2012, private investment and restocking of inventories are expected to drive capital formation this year, though moderately.” Across the region, the ADB said East Asian economies including China, Hong Kong, Taiwan and South Korea will see a deceleration in growth to 7.4

VIVA launches VIVA elite service to its customers KUWAIT: In line with its long term strategy to continuously provide its loyal and high value customers with unique services at all times, Kuwait Telecommunications Company VIVA, Kuwait’s newest and most advanced mobile telecommunications service provider, announced in a press release on Wednesday the launch of its Elite program providing customers with a personal assistant services. The new VIVA Elite service will give priority to Elite customers at all customer service centers and the VIVA Concierge will be free of charge for postpaid selected customer, who will be eligible to enjoy and benefit from this unique service provided. The VIVA Concierge Services will provide the highest level of quality and personal assistance to VIVA’s selected customers. In addition, VIVA Concierge service will enable customers to access a large list of VIP Airport lounges around the world, making VIVA the region’s first telecom company that provides this service to its select customers. This new service will be offered in a form of a membership card whereby every eligible customer will be entitled to get the VIVA Concierge Card to enjoy and benefit the variety of services being offered. The selected customers will be contacted by the assigned Personal Assistants through the VIVA Concierge contact centre to introduce the card and its benefits to the customers. The

percent this year from 8 percent in 2011, affected by weaker exports and investment. China, the world’s second-largest economy, will lead the way with growth set to moderate to 8.5 percent and 8.7 percent for 2012 and 2013, down from 9.2 percent in 2011, the bank said. South Asia, including India, Pakistan, Sri Lanka and Bangladesh, will also remain subdued with growth of 6.6 percent in 2012, tempered by weak demand and fiscal limitations, the report said, adding that the pace of expansion will accelerate to 7.1 percent next year driven by the Indian economy, which is projected to rise to 7.5 percent. Southeast Asia will see growth quicken, with gross domestic product (GDP) expanding to 5.2 percent in 2012 from just 4.6 percent in 2011 on the back of the continued recovery in the Thai economy. “Inflation is gradually easing, but remains a potential threat given volatility in food and fuel prices. A significant dip in investment late in 2011, and the possibility of growing unpredictability in foreign capital flows in and out of the re-

gion are other factors policymakers must be wary of,” the report said. “Continued uncertainties in the euro-zone and a further slump in global trade pose the biggest threats to the growth outlook,” ADB chief economist Changyong Rhee said in Hong Kong, according to ADB’s Website. “At the same time, Asian economies are gradually diversifying into new markets, private consumption is trending up and the region has limited direct financial exposure to the euro-zone-which should help sustain its momentum,” Rhee said. “There is no clear case for short-term policy responses, but if inflationary pressures build up again and capital inflows resume, there may be a need to readjust monetary policy to maintain price stability,” Rhee said. The ADB is a multilateral development finance institution dedicated to reducing poverty in Asia and the Pacific. Established in 1966, it has now owned by 67 members, mostly from the region, as well as the US, the UK and Germany. -KUNA

Japan’s machinery orders expectedly up 4.8%

benefits include: Phone Secretarial Service, Travel arrangements, online shopping, Courier Services, Car Registration, and many more services. VIVA’s Chief Executive Officer (CEO), Salman bin Abdul Aziz Al-Badran said, “We are always keen on to offer the latest and best services to our customers to ensure a high level of customer service satisfaction.VIVA is more than just a telecom company, but also a company that listens and cares for its customers, and we recognize our loyal customers by offering them tailored services suiting their needs. VIVA will continue its commitment to provide its clients with fast and reliable services that exceeds customers’ expectations.” Kuwait Concierge is one of the leading Concierge companies and Contact Center outsourcing services and is designed to provide assistance in managing the Customers’ daily tasks on a personal level. These services aim to improve their lifestyle by giving them back the time to focus on the things they would prefer to do. With this new service, VIVA reiterates its commitment to continuously provide unique services designed to exceed the customers’ expectations, as the main objective of the company is to satisfy the customers in every possible way by adding real value to the customers experience while enjoying unrivalled communication.

Dubai’s Nakheel plans creditor Sukuk issue by end-April DUBAI: The second tranche of a Sukuk from Dubai’s Nakheel will be 240 million UAE dirhams (65 million US dollars) in size, less than a quarter of the expected value, after the property developer persuaded trade creditors to accept a huge discount on their original claims. Nakheel will issue further tranches, a spokeswoman said, with some claims from trade creditors yet to be resolved. She declined to reveal the value of these claims. The Sukuk is part of a $16 billion debt restructuring by Nakheel, which overstretched itself building palm-shaped islands and other ambitious projects. The sukuk’s first portion - a five-year bond worth 3.8 billion dirhams ($1.03 billion) paying a 10 percent profit rate - was issued in August last year. At the time, Nakheel’s chairman said the sukuk would be worth

Petroleum Exporting Countries (OPEC) member to halt a nuclear program the West suspects is intended to produce weapons. European insurers and reinsurers will be prohibited from indemnifying ships carrying Iranian petrochemicals anywhere in the world from May, and crude and oil products from

July. Although Japan’s P&I Club, which provides insurance for shipping companies, does not directly fall under the sanctions regime, it is largely dependent on the European reinsurance market to hedge its risk. Japan’s main ship insurer said it wanted to know ahead of time of any member sending a tanker to transport Iranian oil because the insurer had the right to deny coverage. “The member shall conduct any such voyage in the full knowledge of the risk that the club may lawfully cancel the contract of insurance or decline to pay claims,” the club said in a circular to its members on Tuesday. The insurer, whose members include shipping firms Kawasaki Kisen Kaisha, Mitsui O.S.K. Lines, and Idemitsu Tanker Co, has said it would only provide coverage worth a maximum eight million US dollars for a tanker carrying Iran oil and petrochemicals, down from the typical one billion dollar coverage. “Any reinsurers including other (P&I clubs) subject to EU legislation will not be able to pay out if a claim involves a sanctioned cargo,” the club said. “Because of this, the member could suffer a significant shortfall if any claim is made.” Japanese trading houses were reducing Iranian crude imports from April, industry sources said on Tuesday, joining the country’s refiners in deepening cuts even after the United States said Japan had done enough to support sanctions against Iran. The United States has pointed to Japan as an example for other Iranian crude buyers as the country reduced purchases even though it needed more oil overall to help meet rising domestic demand after the earthquake, tsunami and nuclear disaster in March 2011. -Reuters

4.8 billion dirhams in total, leaving one billion dirhams to be issued in later tranches. “The second tranche, I think, will be launched by the end of this month. We are trying to get it out by the end of this month hopefully. It will be all the same terms,” Nakheel Chairman Ali Rashid Lootah told reporters. “The cash is 40 percent of the 400 million (dirhams), which we have already paid them, the 60 percent will be the Sukuk.” He was speaking at the launch of a luxury residential development on Palm Jumeirah. Of 104 units to be built, 30 have been bought since going on sale a week ago in what Lootah said showed renewed confidence in Dubai’s property sector. Dubai house prices have fallen more than 60 percent from a 2008 peak. -Reuters

FILE- Cranes hoist containers on board a ship at a pier in Tokyo on March 22, 2012. : Japan’s core machinery orders unexpectedly jumped 4.8 percent in February from the previous month, suggesting a continued recovery in capital spending after Thai flooding last year, the government said Wednesday. (AFP)

TOKYO: Japan’s core machinery orders unexpectedly jumped 4.8 percent in February from the previous month, suggesting a continued recovery in capital spending after Thai flooding last year, the government said Wednesday. Orders grew for the second straight month to 794.0 billion Japanese yen (9.8 billion US dollars) following a 3.4 percent rise in January, according to data released by the Cabinet Office. The figure was the biggest since August, when it posted 804.9 billion yen ($ 10.0 billion). Core private-sector orders, which exclude volatile demand from electric utilities and for ships, are considered a leading indicator of corporate capital spending in the next three to six months, which accounts for 15

percent of Japan’s gross domestic product (GDP). By industry, orders from manufacturers surged 16.0 percent month-on-month for the first increase in three months and the sharpest gain since October 2009, while those from non-manufacturers rose 2.3 percent for the second straight monthly expansion. But overseas demand, an indicator of future Japanese exports, fell 18.3 percent for the first decline in five months. The latest jump prompted the Cabinet Office to upgrade its assessment of machinery orders for the first time since June 2011, saying, “The orders are moderately increasing as a trend.” For January, the office said the orders were “seesawing”. -KUNA

ALWATAN DAILY

BUSINESS

Qatar boosts offer for Dexia’s Turkish unit FILE - Workers work on letters spelling “Dexia” from the one of the company’s prime buildings in Brussels Feb. 27, 2012. Qatar National Bank (QNB) has made a higher bid for Denizbank, the Turkish unit of stricken Belgian lender Dexia, after earlier talks stalled over price. (Reuters)

DUBAI: Qatar National Bank (QNB) has made a higher bid for Denizbank, the Turkish unit of stricken Belgian lender Dexia, after earlier talks stalled over price, four sources familiar with the matter said. “The bid has been reactivated, and is on the table,” said one source. “The new offer is closer to what Dexia is expecting,” he added, saying that QNB’s original offer had been dismissed as too low. No immediate comment was available from QNB and their advisors Citigroup declined to comment. The sources spoke on condition of anonymity as the matter is not public. Denizbank shares rose as much as 5.7 percent on the news. Denizbank is worth 5.9 billion US dollars in the current market after a 49-percent run up since news of the sale emerged, and Dexia is understood to be looking for up to four billion dollars for the bank. A second source said that QNB had originally bid 1.1-1.2 times Deniz’s book value and the Belgian government had wanted 1.5 times book. It was not clear what the revised QNB bid was. Dexia, crippled by the euro zone crisis, has been trying to sell the Turkish bank for over six months.

Two other bidders, Hong Kong and Shanghai Banking Corporation (HSBC) and Sberbank pulled out, leaving QNB as the sole suitor. People familiar with the matter told Reuters last month that Dexia had considered the Qatari offer too low, and was not willing to sell the healthy Turkish business - which gives access to a fastgrowing market - in a fire-sale. Dexia mandated US investment bank Banc of America in October to advise on the sale. UBS is advising the Belgian government. With a market value of around $25.8 billion, QNB is the largest lender in the tiny, natural gas-rich Gulf Arab state. QNB, 50 percent owned by sovereign wealth fund Qatar Investment Authority (QIA), has been seeking a larger regional role as part of an aggressive expansion strategy. It currently has operations in Jordan, Switzerland, Syria and the United Arab Emirates (UAE). Dexia was rescued by Belgium and France because of its heavy exposure to Greece and after it could no longer secure short-term credit to finance long-term lending activities. It bought a 75 percent stake in Denizbank for $2.4 billion in 2006 and later raised its ownership to above 99 percent. -Reuters

Trading Prices of Kuwait Stock Exchange Trading Prices of Kuwait Stock Exchange

Company

High

Low

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

1,060

1,040 430 830 265 415 730 570

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. Int'll Exch KW BH Int Exch.

104 285 152 310 112 142 51 36.0 280 38.0 -

430 840 270 415 750 580

Global Index - Banking

Taiba Kuwaiti Holding

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

246.0 108.0

178 75 114

Global Index - Investment

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

56 112 128 234 232 36.5 97 990 78 15.5 62.0 97 58 67 84 18.0 38.0 69 160 40.5 35.5 20.5 31 345

55 110 122 220 228 35.5 95 960 74 15.0 60.0 92 57 65 77 17.5 36.5 69 160 40.0 35.0 20.0 31 340

230 120 124

224 118 124 1,260 880 330

1,260

880 335

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

500 -

Global Index - Real Estate

Nationl Ind. Group Pipes Ind. & Oil Kuwait Cement Refrigeration Ind. Gulf Cables & Elec. Heavy eng. & Ship. Marine Services Portland Cement Shuaiba Industrial Metal Collecting Kuwait Foundry

102 280 144 300 112 140 50 35.5 270 37.5 236.0 104.0 174 75 110

500 -

Global Index - Insurance

ź ź ŷ ŷ Ÿ ŷ ź Ÿ ŷ

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

Last Close 176.41 6,164.30 Last Prev. Close Close 1040 430 790 610 840 270 415 740 580 314.42

104 280 52 148 310 13.0 55 25.0 130 25.0 230 99 112 102 52 26.0 140 49.5 26.5 71 36.0 48.5 64 26.0 270 61 38.5 51 37.5 100 244.0 106.0 22.0 22.5 75.0 29.0 178 285 114 28.00 75 65 51 50 64 42.50 114 81.41 300 560 500 148 220 122 40.50 44.17

56 110 128 234 32.5 232 118 91 35.5 110 95 980 77 15.5 62.0 95 58 67 77 36.0 84 17.5 87 17.5 37.0 69 80 160 40.0 28.5 35.0 17.5 20.5 134 134 220 51 340 57.32

228 118 450 124 1,260 295 140 880 216 106 335

Previous Close Change 176.92 -0.51 15.60 6,148.70 Trading Activity Chng Volume Tran. Value(KD) -20 -5 10 -5 10 1.67-

530,000 70,000 10,000 1,710,000 430,000 1,975,000 110,000 4,835,000

20 4 2 19 9 94 11 159

554,850 30,100 8,350 455,850 178,450 1,459,500 62,800 2,749,900

104 285 52 148 335 13.0 55 25.0 130 25.0 230 99 114 102 52 26.0 142 49 26.5 71 36.0 48.5 64 26.0 280 61 38.5 51 37.5 100 236.0 106.0 22.0 22.5 75.0 29.0 180.0 285 114 28.00 80 65 51 50 64 42.50 122 82.45

-5 Ex-D -2 -2 1 -10 8.0 2.0-5 Ex-D 1.04-

120,000 80,000 5,420,000 750,000 340,000 760,000 3,320,000 400,000 30,000 2,640,000 5,640,000 6,480,000 60,000 80,000 1,860,000 27,980,000

6 4 131 17 9 14 31 5 3 25 155 116 3 2 62 583

300 560 500 148 220 122 40.50 44.17

Ex-D Ex-D Ex-D Ex-D -

20,000 20,000

56 112 122 226 32.5 238 118 91 35.5 110 97 1,060 73 15.0 62.0 92 59 66 80 36.0 84 18.0 87 17.5 35.5 69 80 166 40.5 28.5 35.5 17.5 20.0 134 134 220 51 350 56.85

-2 6 8 6.0-2 Ex-D 4 0.5 3 -1 1 -3 0.51.5 -6 -1 0.50.5 Ex-D -10 0.47

226 118 450 122 1,280 295 140 880 216 106 315

2 2 -20 20

1060 435 790 610 830 270 420 730 580 316.09

KUWAIT: Kuwait China Investment Company (KCIC), an investment firm specializing in investments in Asia, recently hosted a closed discussion with IHS Global Insight’s Director of Sovereign Risk, Jan Randolph, who delivered an outlook on global economies for the year 2012 to an audience of local analysts, bankers, fund managers and investors. This was stated in a press release this week. Randolph’s outlook focused on the main global driving economies: the US, the Eurozone, Japan and Emerging Asian Markets. Randolph is a seasoned international economist and financial markets commentator on television and radio including Bloomberg, CNBC and Reuters TV, and has written extensively in the press, including the Financial Times, Washington Post, Newsweek, Observer and Business Week. He is also the Director of Sovereign Risk with IHS Global Insight, based in London, where he has successfully adapted the risk management and internal rating modeling techniques for cross-country bank exposures to provide clients with a unique sovereign risk rating system for over 200 economies worldwide. He has both policy and hands-on experience in international risk management, especially in Emerging Markets. He said, “The global economy faces three key risks in 2012, first an oil price shock from supply disruptions in the Middle East, second the Eurozone sovereign debt problems and lastly, China’s real estate market downturn. These are interesting economic times as the impact of the 2008 financial crisis is still present and generating aftershocks such as the sovereign debt crises. However recent data suggests that global growth will pick up. Inflation worldwide has moderated, enabling more central banks to ease monetary policies.” Global gross domestic product (GDP) growth expected for 2012 and years to come show that Asia-Pacific will achieve the fastest real GDP growth at levels ranging between six percent and seven per-

cent annually between 2012 and 2020. Western Europe is expected to grow at the lowest global levels ranging between a negative growth in 2012 and less than two percent till 2020. Overall global economies are expected to grow between two percent and less than six percent. Brent crude oil prices on the other hand are expected to sustain above 110 US dollars levels between 2012 and 2017. Prices are driven by sustained growth in emerging markets (EM), concerns over Iran’s nuclear program and sanctions over the country, security challenges in Iraq and Nigeria, limited growth in nonmembers of Organization of Petroleum Exporting Countries (OPEC) supplies between 2012 and 2013, and the moderate influence of increased production from US tight oil fields and Canadian oil sands.

opportunities to invest, therefore guiding investors to place their money in safe-havens where risk aversion is very high. The US economy recovery continues to be pressured by the unresolved real estate.” The US growth will exceed growth in the Eurozone and Japan, reaching an expected two percent in 2012, and increasing year on year until 2016. Recent employment figures show encouragement - consumers and businesses are cautiously increasing their spending, the outlook on exports is favorable after 2012, and the US Dollar real exchange value will depreciate against EM’s currencies. A rebound in the housing markets remains key to a more robust economic growth. The threat of the Eurozone sovereign debt problems has eased. Fiscal policies will tighten, however timing and scope are uncertain. Oil prices risks have risen. The probability of a return to recession is today at 20 percent. In Europe, the current mild recession is expected to end starting the third quarter. The Eurozone fiscal deficits are decreasing, the fiscal balance is expected to register a negative three percent of the GDP in 2012, and continue to ease to a negative two percent approximately of the GDP on 2013. Randolph said, “The European Central Bank’s massive lending to banks has helped ease credit conditions and reduce government bonds yields. To survive, the Eurozone will move towards closer fiscal integration, and Germany is key in achieving this step. The Euro is expected to depreciate to a low US 1.25 in the autumn of 2013.” He added, “Italy and Spain are making progress on structural reforms under their respective new leadership, and the contagion risks from Greece have diminished. Greece however remains in a dire situation and the probability of it exiting the Eurozone in the next three years is 40%, and that could trigger a financial crisis and deep recession, dragging down the US. Contagion will be contained if Greece remains in the Eurozone and the European Central Bank supplies ample liquidity.”

Randolph shared the following soutlook on global economies:

• The US expansion will continue at a modest pace, restrained by inevitable fiscal tightening. The private sector will continue its deleveraging, and strengthening job growth will support consumer income and spending • The Eurozone is in a mild recession and growth is expected to resume by mid2012. The risks of a disruptive sovereign debt crisis have diminished • Japan is suffering a loss of export competitiveness, and the reconstruction post the March 2011 earthquake and tsunami is proceeding slowly • Asia will lead global growth, and Emerging Markets (EM) will continue to offer the best prospects, but not without risks. EM will also enjoy robust growth despite an export deceleration. As for China, its economy will achieve a soft landing, provided that the housing market downturn does not turn into a crash • Latin America and Africa will do relatively well by historical standards. On the US, Randolph said, “The corporate sector is rich in liquidity but lacks

Date of Closing Prices:

DTD -0.29% 0.25%

Last Bid

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

KCIC hosts economic Diwaniya with international risk expert Jan Randolph

Trading Prices of Kuwait Stock Exchange Date of Closig Prices: 11/04/2012

Date of Closing Prices: 11 / 04 / 2012 For more information please contact “Global” at (+965) 180 42 42 or www.globalinv.net Global General Index KSE Price Index

THURSDAY, APRIL 12, 2012

Last Ask

MTD YTD -3.70% -1.62% 6.02% -0.01% Div. Annual Close Low P/E Yield High

1,040 425 590 830 265 410 740 570

1,060 430 610 840 270 415 750 580

3.8% 0.0% 1.9% 3.3% 1.7% 0.0% 0.0% 2.7% 0.0% 2.0%

1,220 510 800 680 920 285 480 900 590 326.42

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

15.05 30.97 90.92 17.36 30.80 25.68 11.62 22.77 110.34 18.25

12,360 22,700 803,440 228,400 38,080 107,880 165,560 14,360 8,200 99,440 1,358,120 686,720 10,560 6,000 210,200 3,772,020

102 280 148 305 112 140 50 35.5 60.0 270 37.5 242.0 104.0 176 260 27 75 64 49 49 112.0

106 285 150 310 230 114 96 142 50 36.0 67.0 285 60 38.0 244.0 106.0 180 295 31 84 65 51 51 114.0

0.0% 7.9% 0.0% 0.0% 6.5% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 8.9% 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% 3.4% 4 6% 4.6% 0.0% 0.0% 0.0% 0.0% 0.0% 10.0% 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 35.5 144 65 35 71 44.0 48.5 70.0 26.0 280 62 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 40 148 295 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 42.5 112.0 74.96

39.80 13.02

2 2

10,000 10,000

260 480 500 30.0

300 520 520 142 43.0

6.7% 4.5% 5.0% 6.8% 2.7% 0.0% 0.0% 4.7%

325 610 540 148 220 134 40.5 44.91

280 550 450 102 220 102 40.5 42.22

15.67 12.90 10.21 23.37 296.83

1,240,000 400,000 4,180,000 240,000 380,000 400,000 2,080,000 1,720,000 1,920,000 7,760,000 5,320,000 15,920,000 440,000 360,000 80,000 320,000 1,440,000 280,000 100,000 7,680,000 160,000 320,000 320,000 1,980,000 55,040,000

13 8 70 10 15 5 33 77 37 59 44 145 11 7 2 3 16 2 1 42 2 4 4 46 656

68,240 44,200 520,360 54,240 87,040 14,320 198,600 1,689,550 146,840 117,120 325,680 1,513,600 25,360 23,600 6,440 5,720 53,680 19,320 16,000 308,760 5,640 6,440 9,920 680,800 5,941,470

55 110 128 228 230 88 35.0 94 980 76 15.0 61.0 94 57 64 79 83 17.5 87 37.0 75 156 40.0 34.0 20.0 30 51 335

56 112 130 232 234 35.5 95 990 78 15.5 62.0 95 58 66 84 84 18.5 89 37.5 69 172 40.5 35.5 20.5 130 33 52 340

0.0% 0.0% 0.0% 8.5% 0.0% 4.3% 0.0% 5.5% 0.0% 6.4% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.7% 0.0% 0.0% 0.0% 0.0% 0.0% 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 67.0 95 75 73 90 38.0 92 23.0 91 17.5 45.0 70 80 174 52.0 39.5 39.0 28.5 25.5 134 34 220 70 480 57.93

47 97 108 200 32.5 224 114 77 27.0 108 94 840 62 11.0 35.0 77 56 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

43.40 14.11 22.93 20.86

2,200,000 520,000 20,000 25,000 40,000 60,000

41 24 1 3 3 5

499,160 61,440 2,480 31,500 35,200 20,000

226 116 440 122 1,260 295 134 880 104 330

228 120 455 124 1,280 300 146 890 216 110 335

0.0% 0.0% 2.2% 4.0% 5.2% 3.4% 3.6% 11.4% 4.6% 0.0% 6.0%

260 136 470 158 1,480 345 222 920 216 120 495

214 116 415 122 1,260 295 140 660 180 102 315

77.42 13.16 1.39 0.00

0.00 0.00 0.00 0.00 0.00 0.00 30.41 0.00 139.70 0.00 0.00 0.00

0.00 9.33 25 44 25.44 11.92 47.42

0.00 4.63 13.32

12.81

16.78 5.87 15.57 38.83 27.20 0.00 17.74 32.65

5.18 23.20 12.99 6.95 40.43

23.07 18.82 0.00 0.00 19.13 69.36 18.38 5.75 7.06 128.01 117.52 13.09 23.59 21.45

ACICO

220

Global 84 United General IndustriesIndex 620 Boubyan KSE PricePetroch. Index

Gulf Glass Hilal Cement Company High Al Kout Ind. Project 1,140 National K-PAK Bank Gulf Bank Material 495 Building Commercial Bank 770 Nat. Ind.Co. Ahli Bank 640 110 Equipment Holding Ahli United Bank 850 Mena Holding International Bank 248 Consumer Industries 460 Burgan Bank Kuwait Gypsum 890 Kw Finance House 216 Qurain Boubyan Bank 590 Salbookh Trading Global Index - Banking196 IKARUS Kw Investment 76 Boubyan Int'L Ind.

216 80 620 Low 1,120 490 770 640 100 800 248 455 880 214 580 194 75

ŷ źź źŷ ŷ ŷ ŷ ŷŷ ŷ ŷŷ źŸ Ÿŷ ŷ ŷ ź

ź ŷ ŷ ŷ ź ź ŷŸ 265 260 źź Commercial Facilit. Global Index - Industrial 41 40 ź Int'L Financial Adv. National Cinema 174 - 170 - źŷ National Invest. Kw Hotels Kw Projects 300 - 300 - Ÿŷ 400 12.5 390 ŷŷ Agility Ahlia Holding 13.5 Market Complexes Coast Invest. 53 52 - źŷ ZAIN - 730 - 720 ŷŷ Int'L Investor Securities House - ŷź 74.0 73.0 Safat Energy Ind. & Fin. Inv. Group Educational - ŷŷ - Securities Group - - ŷŷ Indep. Petroleum Int'L Finance - ŷŷ 152 148 National Cleaning 110 MARKAZ 106 108 Sultan Center 104 ŷŸ KMIFIC - ŷŸ 110 Arabi Group 102 Int'L Group CityInv. Group - ŷŷ Aref Inv. Group 2,160 2,160 ŷź Wataniya Tele. Investment Dar 120 Kw Gulf Link 114 ŷŸ Al AMAN Inv. ŷ Kw Cable Vision - ŷ ALOLA Inv. 110 108 ŷ - ŷ Automated System ALMAL Inv. 50 49 ź NAPESCO - Gulf Inv. House - -ŷ 305 KCPCLeasing 295 - ŷź A'ayan K.S.HInv. 32.5 - 31.0 - ŷŷ Bayan - ŷŷ Eyas GLOBAL Inv. Hits Telecom - 108 - 104 ŷŸ Osoul Inv. Al Safwa Holding -17.0 ŷź GULFINVEST -18.0 Human Soft - ŷŷ KFIC Privatization Holding 77 76 KAMCO - ŷŷ Int'l Leasing & Inv. - - - ŷŷ Nafaaes Holding - - ŷŷ Nat. Int'l Holding - National Slaughter - ŷŷ Housing Finance 104 Aref energy 104 MADAR - - - ŷŷ Safwan 26.5 AlGulf Deera Holding 76.0 26.5 Petroleum 74.0 ŷŷ AlGulf Safat Inv. -Franchising -- ŷŷ AlCredit Salam&Group Collection 122.0 - 114.0 - Ÿŷ 41.0 Ekttitab Holding National Ranges 18.0 39.0 17.5 źŷ Al Qurain Holding Burgan Well Drilling - ŷŷ 16.5 Sokouk Holding 16.5 ŷ IFA H&R - ŷ Al-Madina Finance 40.0 38.5 ź 1,720 1,700 ź Combinted Group NOOR ŷ Jeeran Holding Tamdeen Inv. 160 158 źŷ 116 110 Palms Agro KW BH Int'l Exch. - ŷŸ -Safat TEC Holding -- ŷŷ Taiba Kuwaiti 85 85 Mushrif Trading Kuwait Syrian - ŷŷ UPAC 340 340 Strategia - ŷŸ 300 ALAFCO 295 ŷŷ 53 53 Kuwait China Inv. Al-Muwasat - - - ŷŷ Manafae Inv. Mashaer Holding 300 290 Gulf North Africa - ŷŷ Amwal - - - ŷŷ Oula Fuel AlFuture MasarComm. - ŷŷ Al-Imtiaz 132 Hayat Comm. 102 źź 106 124 Mubarrad Transport 62 60 źŷ Global Index - Investment Kuwait Resorts 48.5 48.5 Kuwait Insurance - ŷź Advanced Technolgy - - ŷŷ Gulf Insurance - Yiaco Medical - - - ŷŷ Ahlia Insurance Al Jazeera Airways 445 źź 450 108 112 Warba Insurance Al Soor Fuel - - - ŷ Kuwait Re-Ins. Future Kid Ins. First Takaful - - - ŷŷ K G L Insurance Wethaq - 295 - 285 ŷŸ - źŷ Al Nawadi Global Index - Insurance Alrai Media 122 Ÿ 122 48 ź Kuwait R.E. 48 - 100 - ŷ Zima Holding United R.E. 100 Ÿ GlobalR.E. Index - Services 118 Ÿź National 126 200 Salhia R.E. 204 LiveStock Trans. - źŷ - 96 ŷŷ Pearl R.E. - 96 Dana Al-Safat 224 224 Tamdeen R.E. - źŷ United Poultry Ajial - - - ŷŷ Kw R.E. FoodStuff - ŷ Massaleh R.E. United Food - ŷ Arab R.E. 30.0 30.0 ź Kout Food - ŷ - ŷ Union R.E. Global Index Food 98 96 źŷ ERESCO 860 - 840 - Ÿ Mabani Sharjah Cement 7595 7495 Ÿŷ INJAZZAT RE Gulf Cement Inv. Holding Grp Um Quwain Cement 12.069 11.569 źŷ Int'L Resorts Fujaira Cement 86 84 ŷź 78 77 Commercial R.E 124 Ras AlKheimah 124 ŸŸ 70 65 Sanam R.E. - źŷ ARIG 54 53 ź Aa'yan R.E United Gulf Bank 176 174 Ÿ - ŷ Aqar - ŷ Egypt Kw Holding Kuwait R.E Holding ŷ Bahrain Kw Ins. 59 ź AL Mazaya 60 Gulf Fin. House 59.0 57.0 14.0 źź Al Dar National R.E 14.0 InovestInt'L Holding 64 64 - ŷŸ Themar

- 166 Grand R.E Projects - 166 Ahli United Bank -25.0 Tijara & R.E Invest -26.5 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 Al-Shamel - 25.5 KBT 27.0 27.0 Al-Safat Real Estate Manazel 16.5 15.5 31 Ajwan Real Estate 31 REAM Specialities Group 400 420 Mena Real Estate Masaken Inter. Al Moudon Intl. R.E - Dulaqan R.E Markaz Real Estate 57 56 Eid Food Kuwait Remal R.E 295 285 -

MaidanIndex Clinic - Real Estate Global Flex

Nationl Ind. GroupReal E242 Dar Al-Thuraya 88.0 232 88.0 Pipes Ind. & Oil Kw Medical Services 128 - 126 Kuwait Cement 455 450 Amar For Fin. & Leas. Refrigeration Ind. Total Parallel Market 1,420 1,420 Gulf Cables & Elec. Heavy eng. & Ship. Total Market Marine Services 720 Portland 720 GlobalCement Special Indices Shuaiba Industrial Global Index - Kuwaiti Co.'s 104 Metal Collecting 110 Cap. Global Index - 10 Large Kuwait Foundry -

Global Index - Islamic

ŷŷ ŷŸ ŷŸ ź ŷŷ ŷ źŷ ź ŷ ź ŷ ŷ ź Ÿ ŷ Ÿ ŷ ŷ ŷ źŷ Ÿŷ źŷ

Last Close Previous Close DTD 218 218 280,000 13 Change 60,840 216 218 -0.40% 177.24 -0.70 80 176.5382 -2 2,120,000 40 173,800 81 79 - 5,754.20 6205,726.90 620 40,000 3 -27.3024,800 610 -0.47% 620 1,100 1,100 Last Prev. Trading Activity Last Last 216 216 224 Close Close Ask Chng - Volume -Tran. - Value(KD) - Bid 415 415 390 3,796,050 - 1,120 - 1120 1120 69 3,377,500 1,140 275 275 300 20 495 495 830,000 407,950 490 495 224 224 Ex-D 234 770 770 10,000 1 7,700 770 780 300 300 300 310 640 -2010 2 6,400 660 10,000 640 660 3,860,000 112 407,200 110 100 110 108 800 50 850 350,000 23 282,700 840 850 33 33 16 248 248 - 700,000 173,600 246 248 102 102 460 465 -5 500,000 10 229,750 460 465 128 Ex-D 128 890 -10 880 1,280,000 66 1,127,050 880 870 26 214 1,000,000 214,600 214 214 212 590 590 607,850 1,035,000 33 590 580 44 44 319.37 319.54 8,092,500 6,639,050 0.17240 11,680 60,000 2 194 -4 198 192 202 106 106 -1 102 106 74 36,320 480,000 11 75 76 74 260 265 -5 250,000 14 65,750 260 265 1,579,020 10,705,000 284 166.20 166.27 0.0640 960 170 280 300 400 12.5 52 52 730 25.0 130 74.0 31.0 110 230 340 102 150 108 106 50 108 44.0 550 52 2,160 74 116 28.5 58 108 300 49 370 23 295 71 255 31.0 260 48.5 108 68 17.5 20.5 270 26.0 77 244 94 84 51 154 36 104 51 600 26.5 76.0 75 23.0 120.0 120 39.5 18.0 19.0 260 16.5 400 38.5 1,700 29.0 80 158 116 255 76.0 114 85 26.00 340 68 300 53 160 60 295 46.5 64 275 42.50 285 128 104 60 75.90

48.5 325 770 560 370 485 450 110 242 220 98 114 290 40.50 78 43.43 122

48 98 100 721.67 124 200 184 37.5 96 224 136 120 1,420 82 340 30.0 580 108 347.53 97 860 85 75 95 11.5 69 38.0 86 78 124 65 112 54 176 90 300 38.0 455 59 57.0 14.0 64 91 17.5 166 31.0 25.5 59 41.72 70 122 48.5 124 28.0 144 23.5 106 25.5 250 27.0 22.0 15.5 31 134 420 134 51 220 345 57 106 295 2,260 49.73

40.5

232 88.0 128 65 450 60 ŷ 150 ŷ 1,420 ź 335 ŷ 212 ŷ 720 ŷ 180 ŷ ź 104 ź ź 460 ŷ źź ŷ ŷ ź

41 960 172 280 295 400 12.5 52 53 730 25.0 130 75.0 31.0 110 230 340 102 150 112 104 50 102 44.0 550 52 2,180 74 114 28.5 58 108 300 49.5 370 23 300 71 255 31.0 260 48.5 104 68 18.0 20.5 270 26.0 77 244 94 84 51 154 36 104 51 600 26.5 76.0 75 23.0 112.0 120 41.5 18.0 19.0 260 16.5 400 39.0 1,720 29.0 80 160 114 255 76.0 114 85 26.00 325 68 300 53 160 60 295 46.5 64 275 42.50 285 130 108 76.02 60

49.0 325 770 560 370 485 460 118 242 220 98 114 285 40.50 78 43.63

120 49 98 99 722.46 120

204 184 37.5 96 234 136 120 1,420 82 340 30.5 580 108 347.53 98 850 85 73 95 12.0 69 38.0 88 77 122 70 112 55 172 90 300 38.0 455 63 58.0 14.5 9163 17.5 166 31.025.0 59 41.61 74 122 48.5 124 28.5 144 24.5 106 26.0 250 27.0 22.0 16.5 31 134 395 134 51 220 345 58 106 290 2,260 49.75

40.5

1,680,000 13 1,040,000 20 110,000 5 1,030,000 7,040,000 4647 1,280,000 22 -1 73 1,440,000 -2 80,000 1.0- - -- - -35 980,000 --2 680,000 1827 740,000 -6 77 2,900,000 - - -4 15,000 -20 58 1,960,000 2 14 500,000 -1 320,000 4 Ex-D - - 600,000 39 --5 1,840,000 22 - - 13,460,000 194 4 3,360,000 21 - -1 - - 1,920,000 33 - - - - - - - - -1 20,000 - - - 269 - 240,000 4,040,000 - - -8.0 - 11,180,000 - 212 2.02437 1,920,000 4,960,000 5 480,000 0.510,640,000 93 175,000 15 -20 2.080,000 4 2 40,000 -2 -- - -80,000 -2 15- 0 20 000 15.0 20,000 -1 1,410,000 - 200,000 268 - 56 1,700,000 - - - - - - - -4.02 1,240,000 3867 1,820,000 360,000 558 9 0.12- - 40,720,000 -1 -2 5 -

0.5-- --810 Ex-D - -5 0.19- 2 -1 1 0.794 -4 - 10.0- - 0.5--1 10 Ex-D 2 0.5- - -2 12 -5 -1 4 Ex-D -4 1 0.51 1 0.11 -4 0.5- 1.0- 0.5Ex-D 1.01 - 25 - -1 5 0.02- -

Ex-D

80,000 -1 - - - - 11 650,000 120,000 6 - - - - 71 1,580,000 120,000 6 1 20,000 1 80,000 9 920,000 1,021 45,440,000 105 3,100,000 12 520,000 760,000 13 3 100,000 - - 1 80,000 760,000 320,000 813

1,935,000 57 24 120,000 160,000 15 2 2,000,000 160,000 -2 80,000 31 240,000 40,000 17 1,000,000 4 200,000 40,000 2 11 440,000 19,120,000 207 1 80,000 760,000 15 -1 20,000 14,480,000 127 34,860,000 361 320,000 2 - - - - 12 2,720,000 80,000 1 240,000 3 35,040,000 4 1,200,000 8 4 320,000 1,230,000 64 - - 240,000 6 47 2,110,000 53,085,000 - 332 -

242 -10 5.0- 13,220,000 40,000 154 1 93.0 128 140,000 6 65 470 -20 50,000 2 60 150 - - - 1,590,000 1,460 -40 2,500 169 335 179,640,000 3,079 212 720 Close 230,000 19 Prev Close Prev. 180 186.07 186.67 106 80,000 179.90-2 180.733 460 -

558.14

554.90

67,160 40 910 177,720 168 33,000 295 406,150 395 90,920 12.5 67,280 51 1,045,950 - 720 5,880 73.0 - - 315 146,960 148 73,920 106 77,880 106 309,480 106 - 32,400 2,140 229,200 116 27.0 54,920 108 295 15,840 49 345 - 21 181,000 295 58,760 31.0 1,429,640 106 64.0 58,560 -17.0 - 146,880 76 - 79 - - 2,080 104 - 550 6,360 26.0 303,720 75.0 - 20.5 1,305,280 - 118.0 77,080 -17.5 87,280 18.0 7,920 16.0 375 419,440 38.5 298,000 1,680 80 12,680 156 4,520 112 73.0 6,800 84 6 800 6,800 315 63 418,550 295 10,600 52 - - 501,300 290 - 265 - - 250 157,920 190,360 124.0 104 21,920 2,702,550 60

3,880 - - 291,950 13,200 - - 460,900 13,200 2,440 3,840 92,000 6,670,480 383,920

104,680 72,960 22,400 - 2,400 72,960 31,160 1,656,950 8,960 15,200 23,960 11,040 6,800 18,520 4,960 67,400 10,720 7,000 26,160 1,099,600 1,120 48,640 3,320 378,240 1,574,800 22,400 - - 76,880 1,880 6,160 946,080 19,240 9,840 502,850 - 13,520 610,850 4,151,200 -

300 510 360 460 445 108 238 93 - 285

79 114 48 99

122 200 - 95 126 110 1,380 550 112 95 860 79 71 79 11.5 95 35.5 69 77 85 122 53 174 285 13.5 57 90 - 64 30.0 166.0 70 116 28.0 23.5 25.0 24.5 15.5 31 420 29 218 55 290 -

3,111,120 3,520 -17,800 122 22,550 455 - 150 516,210 3,550 1,420 310 22,370,650 165,600 Change 710 178 -0.60 8,480 -0.84 104 435

3.24

1,020 172 300 400 13.0 52 - 730 74.0 33.5 345 150 110 108 110 - 530 2,160 118 29.5 55 110 325 50 24 300 32.5 - 108 -17.5 - 285 77 238 88 54 184 106 590 27.0 76.0 23.5 120.0 130 39.0 18.0 20.0 270 16.5 400 39.0 1,720 83 160 116 270 75.0 86 27 340 73 300 53 170 61 295 47 69 270 - 270 128.0 106 61 49.0 325 750 610 395 500 450 114 242 106 110 295 43.0 81 122 49 106 100

126 202 37.5 96 224 130 1,400 85 355 31.5 600 118 98 870 84 76 84 12.0 96 37.0 70 79 89 65 126 54 122 91 178 40.5 300 60 14.5 58 94 - 65 33.5 168.0 57 74 126 28.5 25.0 25.5 255 28.0 23.0 16.0 32 130 32 50 57 295 -

43.0

MTD YTD 25.14 4.6% 224 196 -1.55% 102 -1.55% 0.0% 80 29.08 5.6% 550 88.41 -1.50% -1.50% 630 3.6% 1,400 1,100 16.54 Div. Annual Close 4.6% 216 206 11.21 Yield High Low P/E9.20 4.8% 415 340 3.6% 1,120 14.74 7.3% 300 1,100 275 13.23 0.0% 510 490 33.95 0.0% 228 224 27.09 1.9% 790 770 88.62 2.7% 260 325 19.25 3.1% 660 640 17.34 0.0% 110 51 52.72 1.6% 850 790 29.68 0.0% 33 33 0.00 0.0% 255 248 23.59 102 93 0.0% 0.0% 475 460 12.26 128 17.06 128 9.4% 2.3% 900 880 25.07 222 210 8.63 0.0% 0.0% 590 590 112.24 51 41 0.0% 2.0% 319.54 318.41 18.61 214 162 11.39 0.0% 0.0% 106 106 40.56 0.0% 88 70 8.5% 265 260 12.09 174.76 163.04 10.57 2.8%

0.0% 4.2% 0.0% 0.0% 6.7% 10.0% 0.0% 0.0% 0.0% 27.4% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 8.8% 0.0% 0.0% 9.3% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2.3% 0.0% 0.0% 0.0% 0.0% 0.0% 8.3% 0.0% 5.4% 0.0% 1.7% 0.0% 6.1% 0.0% 3.8% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.2% 0.0% 0.0% 0.0% 3.7% 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% 4.1% 0.0% % 0.0% 3.8% 6.9% 5.1% 0.0% 0.0% 0.0% 0.0% 8 8% 8.8% 0.0% 3.3% 0.0% 4.4% 0.0% 0.0% 10.8% 0.0% 0.0% 0.0% 8.8% 0.0% 9.6% 2.4% 0.0%

0.0% 6.2% 0.0% 4.5% 2.7% 5.2% 0.0% 9.1% 0.0% 2.7% 0.0% 0.0% 1.7% 0.0% 6.4% 4.7% 0.0%

0.0% 0.0% 0.0% 12.5% 0.0% 10.0% 0.0% 0.0% 5.2% 4.5% 0.0% 0.0% 4.6% 6.1% 1.5% 0.0% 3.4% 6.5% 4.0% 0.0% 0.0% 5.9% 0.0% 10.5% 0.0% 0.0% 0.0% 0.0% 0.0% 8.1% 0.0% 6.7% 0.0% 0.0% 0.0% 10.0% 0.0% 7.7% 0.0% 0.0% 0.0% 0.0% 5.5% 0.0% 6.0% 0.0% 0.0% 0.0% 4.3% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.2% 0.0% 0.0% 0.0% 0.0% 3.7% 1.7% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 1.1%

0.0%

232 93.0 0.0% 0.0% 130 - 0.0% 0.0% 465 2.2% 8.3% 3.3% 0.6% 1,440 4.6% 340 3.0% 4.80% 216 2.4% 720 DTD 13.9% 190 5.6% -0.32% 108 0.0% -0.46% 4.3%

0.58%

910 1,120 174 170 280 280 305 295 430 340 13.5 12.5 65 41 54 52 900 690 25.0 25.0 130 130 81.0 45.0 36.0 31.0 110 110 230 230 295 345 102 102 154 110 116 108 102 136 50 50 84 110 44.0 44.0 530 550 52 52 1,920 2,280 74 74 95 126 28.5 28.5 68 58 112 108 230 350 51 49 340 395 23 22 260 305 71 71 260 255 31.5 31.0 260 260 48.5 48.5 54 132 68.0 68.0 23.5 14.0 20.5 20.5 280 270 26.0 26.0 61 84 244 244 94 94 84 104 51 51 154 154 36 36 120 91 51 51 520 710 26.5 27.5 30.0 78.0 75 75 28.5 16.0 99.0 120.0 140 120 19.5 41.5 19.5 12.0 19.0 19.0 275 198 17.0 16.5 490 380 39.0 38.0 1,740 1,500 29.0 29.0 89 73 156 162 124 86 255 255 78.0 57.0 114 114 80 104 26 28 340 270 68 68 280 315 53 55 130 160 60 60 172 295 47 47 64 64 265 305 42.5 42.5 265 300 132.0 108 128.0 70 76.3272 75.9051 44.0 62.0 325 325 770 640 560 560 345 390 520 485 410 485 118 110 270 236 220 220 98 114 134 114 300 218 40.5 40.5 44.8092 43.4377 114 156 49 48 94 110 100 99 791.90 705.36 120 128 208 222 37.5 114 234 136 130 1,500 82 390 30.5 610 108 365.22 100 860 95 76 108 12.5 73 38.0 122 78 126 75 132 55 232 90 330 38.0 455 63 74.0 14.5 91 17.5 31.0 59 47.16 78 1,220 48.5 144 29.0 24.5 26.0 28.5 16.5 134 32 220 60 295 49.86

200 182 37.5 90 224 126 120 1,380 82 340 30.0 500 108 340.30 96 840 44 73 55 11.5 43 38.0 46 77 118 65 102 54 172 90 250 38.0 455 59 40.5 14.0 91 17.5 31.0 59 40.74 70 1,220 48.5 124 28.0 23.5 25.5 27.0 15.5 134 32 220 57 270 49.73

232 260 130 128 470 450 158 150 1,460 1,420 340 335 212 222 710 740 MTD 180 180 -3.68% 104 116 -5.46% 460 460

-0.26%

16.44 88.93 12.13 13.32 1.33 11.18 0.00 23.89 0.00 20.20 0.00 26.69 0.00 55.09 0.00 13.98 0.00 0.00 0.00

14.98 7.04 10.27 0.00 11.74 9.19 398.75 32.31 13.80 0.00 12.64

0.00 116.80 9.60 0.00 0.00 14.91

7.00

0.00

0.00 73.05 87.26 18.59 0.00 3.31 8.28 9.92 22.77 11.92

9.59

63 35 63.35 43.00

5.01 9.60 9.74 23.31 0.00 17.39

5.19 10.01

3.39 16.97 30.14 12.90 11.90 9.91 8.02 17.37 16.90 296.83

10.92 7.65

5.89 12.60 10.89

37.20 12.83 11.45 22.21 17.83 16.20 5.98

11.24 22.14 10.76 15.28 11.07 39.65 5.29

21.70

0.00 14.56 9.92 26.32

27.50 6.82 8.10 37.95 4.15 8.89

19.44 80.15

9.36

11.37 0.00 5.38 27.28

20.67 9.93 23.07

14.42

18.82 63.06 0.00 11.03 0.00 16.27

16.24

70.58 18.38

13.33 6.49 8.02 14.11 193.84 96.15 YTD 10.91 -1.83% 23.15 -5.36% 26.77

-0.69%

STOCKS WITH NBK CAPITAL

ALWATAN DAILY thursday, april 12, 2012

April 21, 2009 April 11, 2012

2% 6%

6% 3% Oman

95 100

Bahrain Bahrain Dubai

Abu Dhabi

-2%

-1%

Kuwait

-4%

-2%

-6%

GCC Best Performers

Saudi

95 11-Jan-12 85

11-Feb-12

11-Mar-12

MENA Best Performers

-2%

11-Apr-12

-6% -2

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

MENA Indices Highlights Country (Index)

Index Level

% Chg.

YTD

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

Index 7,573 Level

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

2,532 5,250

-0.6% -4.0%

QaUAUAE Qatar (DSM Index) (ADSM Index)

8,760 2,695

-0.1% 0.6%

Ku Kuwait (KSE Weighted Index)

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

OmOman UAE(MSM (DFMIndex) Index)

409

1,672 406

5,907 1,745

BaQa Bahrain Qatar (BSE (DSMIndex) Index)

1,134 5,590

Jo Jordan (Amman General Index)

2,020

Eg Egypt (EGX 30 Index)

OmOman (MSM 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

Pa Palestine (Al-Quds Index)

4,652

5,478

1,681

10,543

463

1,195

2,825 467

10,621

5,003

1,094 546

Tu TunisiaClosed (Tunis SE Index)* * Market

3,282

52 Wk High

0.3% % Chg. -0.2%

0.9%

5.1% 0.4%

-0.5%

2.2%

-0.2%

0.0%

0.9% -

Trailing

13.15

99,185

8,071 2,137

81 122

126,104 69,783

11.65 7.29

1 196

16,986 65,352

9.15 8.85

-0.9% -18.8%

0.7%

5,419 1,433

15 305

5,628

3,587

12,109

1.3%

2,226

-6.8%

2,903

-5.2%

8.5%

1.6%

4,224

2,551

513

1,164 465

14,635 5,036

4,091

23.6%

739

407

-7.2%

2,119

13.6%

3,418

9,406

1,043

2,837

13.72

63,640

7.67

18,727

33,782

9,926

1.63

1.29

3.30

1.56

6.34

0.85

12.71

2,456

2.15

9.12

59,990

1.14

18.36

3.95

15.53

8,507

1.68

15.49

10,620

1.29

8.07

57,646

1.77

6.47

2,079

0.86

8.67

6,576

MENA Worst Performers

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

703 Zain - Saudi Arabia

225 Saudi Industrial Inv. Grp.

101 Riyad Bank

115

-6.4%

382,063,618 300,742,390

703 Zain - Saudi Arabia (KSA)

Turnover (USD)

186,605,924

201 Saudi Basic Industries Corp. (KSA)

343,553,085 168,581,138

201 Basic Industries Corp.Dev. (KSA) 430Saudi Dar Al Arkan Real Estate Co. (KSA)

119,955,261 110,094,273

115 (KSA) 422Alinma EmaarBank the Economic City (KSA)

97,126,838

NBKNational Bank of Kuwait (KUW)

1,467,121,244

Market Cap. (SAR '000)

114

88,742,222

20Saudi Basic Industries Corp.

S&P GCC Large/Mid Composite

632,229,843

43Dar Al Arkan Real Estate Dev. Co.

11-Apr-12

% Chg.

79.25

3.9%

29.60

1050.SSE Banque Saudi Fransi

3.1%

31.20

3.0%

29.30

2.5%

38.80

1040.SSE Saudi Hollandi Bank

Turnover (SAR) 1,432,853,186 7030.SSE Zain - Saudi Arabia 1,127,874,184 4300.SSE Dar Al Arkan Real Estate Dev. Co. 699,828,195 5110.SSE Saudi Electricity Co.

1 Alinma Bank

11-Mar-12

2.7%

Worst Performers

70Zain - Saudi Arabia

11-Feb-12

64,280,166

1020.SSE Bank Al Jazira

Highest Turnover

105

95 11-Jan-12

SAR 24.70

-6.8%

Turnover (USD)

MENA Highest Turnover

14,353,576

Turnover (SAR '000)

-3.5% -8.9%

-3.2% -8.6%

115 Alinma Bank (KSA)

7,931 / 5,916 1140.SSE Bank AlBilad

Tadawul Index 52 week High / Low

116

-4.2%

SAR 12.15 SAR 48.00

SAR 13.70

GCC Highest Turnover

0.94

Advance/Decline Ratio

% Chg.

2.80 SARAED 22.95

88% 1120.SSE Al Rajhi Bank

% of stocks trading above 1yr avg. price

3.9%

8.0%

KWD 0.270 -13.1% -3.6% KWD 0.265

7,573 (0.3%)

Tadawul Index (% Chg.)

125

4.3% 8.6%

SAR 9.35% Chg. -4.1% Close

EMAEmaar Properties (UAE) Best Performers

Summary

4.9% 8.8%

AED 1.13

KFI Kuwait Finance House (KUW)

Rebased Performance

5.0% 9.8%

8.0%

GC Gulf Cement Co.

0.87 201 430Saudi Dar Al Arkan Real Estate 1.74 Basic Industries Corp.Dev. Co.

9.50

27,801

OMR 0.720

GCC Worst Performers

1.90 FAC KAM KIPCO Asset Management Co. 1.37 Commercial Facilities Co. 1.60 CBD Commercial Bank of Dubai 0.88 238 Rabigh Petrochem.

9.26

15,024

1.05 1.77

10.76 6.87

55,120

328

-3.3%

5.1%

18,198 37,413

1,572

5,044

34,972 98,547

1,921

10,512

1,414

2.4%

1,129 4,230

12,203

1,033

-2.0%

65 718

6,406 5,860

1,412 12,627

28.4%

1,301 316

2.02

0.79 1.52

8,892 5,148

QAR 21.60

BKMBankMuscat

10.76 9.99

-0.1% 12.8%

1,754 787

8.83 10.24

SAR 79.25

QGTQatar Gas Transport Co.

PB1.39

66,883 264,263

QAR 9.22 QAR 6.35

112 Al Rajhi Bank

PE 13.85

28 2,183

3.7% 6.6%

1.2%

Mkt.391,201 Cap. USD million

KWD 0.128 OMR 0.703

VFQVodafone Qatar KCB Al Khaliji Commercial Bank

2,293 4,130

0.4% 1.9% 2.1%

396

Turnover 3,827 USD million

QAR5.60 18.17 SAR

NRGalfar National Real Estate Co. GEC Engineering & Contracting

Trailing

Mkt. Cap. USD million

2,775 10,090

23.5% -0.2%

-0.1% 3.9%

467

525,916 Wk Low

Turnover USD million

5.3% 9.3%

-0.4% 1.8%

-0.4%

52 Wk 7,931 High

18.0% YTD

52 Wk Low

% Chg.

OMR 0.620% Chg. 5.3% Close

AHC Aamal Co. 3 428 Kingdom Hldg. Co.

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

4 OC Oman Cement Co.

Period's Liquidity 1 Ratio (PLR x)

-1

Abu Dhabi Abu Dhabi

105

Saudi

Qatar

Oman

Palestine

Abu Dhabi

100

Kuwait

Dubai

Return DailyDaily Return (%)(%)

Dubai

Palestine

111

110

Saudi Dubai

105

Qatar

Qatar Saudi

111 114

4% 2%

Oman Qatar

115110

Kuwait Oman

113

Jordan Kuwait

113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Jordan Egypt

120115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

412,886,552

42Emaar the Economic City

2250.SSE Saudi Industrial Investment Grp. 2280.SSE Almarai Co.

% Chg.

9.35

-4.1%

14.25

-2.4%

12.15 22.60 64.00

-3.2% -2.4% -1.5%

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

Close 79.25

Daily % Chg. 3.9%

High 79.50

Low 76.25

Turnover (SAR '000) 284,002

1 Alinma Bank

14.85

-1.0%

15.00

13.70

1,432,853

1 Arab National Bank

31.00

-0.6%

31.30

30.70

2,925

2 Almarai Co.

1 Bank AlBilad

1 Bank Al Jazira

64.00

31.20

29.60

1 Banque Saudi Fransi

38.80

4 Emaar the Economic City

13.00

4 Dar Al Arkan Real Estate Dev. Co. 7 Etihad Etisalat Co.

4 Jabal Omar Development Co. 4 Jarir Marketing Co.

4 Kingdom Holding Co.

2 National Industrialization Co.

2 Rabigh Refining & Petrochemical Co.

1 Riyad Bank

1 Samba Financial Grp.

-1.5%

3.0%

3.1%

150,655

11.35

632,230

64.75

134,287

151.25

15,922

36.30

71,114

24.60

19,118

2,785

52.25

38,717

707

32.70

122,470

3,571

85.25

8,901

0.6%

1.9%

25.00

55.00

59,895

103.00

100.50

699,828

-2.4%

14.55

14.15

204,177

22.20

37,059

18.60

7,199

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

22.85

22 Saudi Industrial Investment Grp.

Saudi International Petrochemical Co.

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

2 Yanbu National Petrochemicals Co. 7 Zain - Saudi Arabia

-0.3%

2.0%

34.50

89.00

4,441

2.5%

29.50

27.50

-0.7%

23.00

22.15

48,042

18.15

384,159

32.00

17,127

35.30

13,787

22.60

-2.4%

19.25

-0.3%

18.90

-0.3%

23.10 19.35

18.95

0.3%

40.10

38.70

39,031

97.25

-0.8%

97.75

96.50

6,992

49.80

1.0%

49.80

48.50

41,262

8.80

1,127,874

40.10

34.50 36.30

51.00 9.35

5,090

69,615

38.30

25.10

0.2%

29.30

-5.2%

24.35

0.3%

0.4%

102.75

1 Saudi Hollandi Bank

17.20

2,170

2 Saudi Basic Industries Corp.

14.25

32.90

26,477

12.50

188.25

5 Saudi Electricity Co.

6,141

11.75

-0.8%

154.00

194.00

89.00

-44.1%

158,201

18.70

-0.7%

3 Saudi Cement Co.

65.00

17.35

1.4%

67.00

192.50 34.30

114.50

412,887

12.60

2 Saudi Arabian Fertilizer Co.

1 Saudi Arabian Mining Co.

829

96,488

12.00

-1.3%

25.00

14,397

26.30

-0.3%

1.7%

0.0%

-4.1%

34.60

36.50

51.25 9.80

49.50

96,162

YTD 14.0%

13.05

152.00

54.75

191,605

on high -4.2%

0.4%

-1.5%

38.20

27.30

% Change

Low 67.25

37.10

65.75

25.00

29.50

53,038

52-Week High 82.75

39.00

-3.2%

12.20

31.40

62.00

3,584

2.7%

12.15

18.60

64.75

Volume ('000)

16.25

34.30

31.90

9.05

26.60

15.75

371

40.00

30.00

31,761

13.60

6.20

52,035 2,042

8,505 105

1,862 765

13.85

68.25

20.15

-35.4%

-31.0%

14,720,000

12.8

2.1

57.2%

60.0%

9,360,000

28.6

12.7%

74.6%

48.0%

67.6%

27.2%

25.2%

25.8%

76.9%

89.8%

11,050,000

nmf

1.5

13,122,000

46,025,000

33.3%

45,211,764

21.20

-16.1%

7.5%

42.40

-3.5%

24.25

98.00

53.00

29.30

21.42

24.45

17.75

50.75

29.80

26.90

56.75

34.80

23.10

37.50

1,640

27.20

374

21.00

21.30

-24.7%

-6.1%

-1.8%

49,275,000

-8.5%

35.6%

37.8%

-9.2%

23.6%

67.9%

0.0%

18.0%

-6.5%

16.0%

-3.8%

-8.7%

12.85

-12.6%

18.55

-16.9%

15.55

-8.3%

15.50

-11.3%

23.70

-2.8%

7.3%

9.4%

6.8%

2.5%

106.75

61.25

829

83.25

47.50

-40.2%

-28.9%

5.25

-18.7%

68.5%

11.50

41.60

18.6%

-8.9%

13.1%

-8.9%

nmf

17.8 nmf

8.7

nmf

11.9

11.5

2.5

1.9

10.1 1.8

1.9

2.7

1.2

1.8

5.9

-4.2%

308,250,000

10.5

2.2

7.5%

59,373,962

31,727,500

nmf

1.9

13,617,000

16.4

4.1

13.8%

11,629,170

11.5

1.6

-1.5%

8,378,333

11.9

1.5

28,350,000

nmf

4.1%

10,170,000 10,587,500

26.7

19.2 15.0

1.1

1.7 1.2

1.9

3.6%

80,200,000

10.5

1.7

58.1%

13,615,000

15.2

5.1

20.2%

28.3%

18.9%

8.5%

15.9%

9.1

0.9

11.7

-4.2%

8.6%

37,500,000

12.1

48,125,000

19.2%

56.00

6.4%

-10.7%

-2.9%

-1.6%

-3.8%

18.9%

33.00

27.75

21,293,768

17.5%

41.30

36.90

9.1%

9,120,000

21,900,000

973

35.50

50.0%

5.5%

-7.1%

1.9

1.8

37.9%

9.2%

32.8

1.6

2.7

12.0

-6.9%

-2.3%

12.1

1.4

35,075,894

7.05

13.10

101.17

16.30

120,628

8,880,000

nmf

-2.2%

17,286,840

14,328

1,886

26,350,000

35.6%

87.75

380

-9.6%

22,275,000

53.1%

112.50

496

48.5%

-7.7%

6,811

20,326

3.6

58.8%

11.10

155.50

16.1

-4.4%

-3.7%

Trailing PE

118,875,000

15.2%

50.00

165.00

2,102

-7.2%

Market Cap. (SAR '000)

4.3%

-3.0%

-12.3%

200.00

152

-9.6%

6.05

311

100

-8.6%

12 mths

-8.2%

-1.4%

33.6%

17,250,000

36,300,000

14.5

12.6

10,084,500

13.7

13,090,000

nmf

28,687,500

9.0

2.2

2.1

3.0

2.7

3.0

STOCKS WITH NBK CAPITAL

ALWATAN DAILY thursday, april 12, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,164 (0.3%)

KSE General Index (% Chg.)

120

409 (-0.2%)

Advance/Decline Ratio

0.58 ALTIJARIA The Commercial Real Estate Co. 6,523 / 5,694 SULTAN.KSSultan Center Food Products Co.

46%

% of stocks trading above 1yr avg. price

115

114

KSE General Index 52 week High / Low

Turnover (KWD) 1,689,550

A The Commercial Real Estate Co.

1,513,600

ZA Zain Kuwait

1,045,950

1,459,500

K Kuwait Finance House

11-Mar-12

11-Apr-12

S&P GCC Large/Mid Composite

4.9%

0.234

3.5%

0.106

1.9%

0.095

3.3%

0.980

1.7%

Worst Performers

MMabanee Co.

100

11-Feb-12

Salhia Real Estate Co.

Highest Turnover

103

% Chg.

0.128

27,593,342

Market Cap. (KWD '000)

95 11-Jan-12

SRE.KSE

National Real Estate Co.

22,884

Turnover (KWD '000)

105

NRE.KSE

467 / 396 MABANEE. Mabanee Co.

KSE Weighted Index 52 week High / Low

110

KSE Weighted Index (% Chg.)

803,440

N National Investments Company

Close KAMCO.KSKIPCO Asset Management Co.

-3.6%

0.232

-2.5%

KPROJ.KSEKuwait Projects Co. (Holding)

0.310

JAZEERA.KJazeera Airways

0.450

TAM.KSE

Tamdeen Real Estate Co.

IKARUS.KSIkarus Petroleum Industries Co.

% Chg.

0.270

-2.8%

-2.2%

0.194

-2.0%

KSE Weighted Index

Quotes Company Name

Daily % Chg.

High

A Agility

0.400

0.0%

T Al Themar Intl. Holding Co.

0.087

A AREF Energy Holding Co.

0.104

A Al Ahli Bank of Kuwait

0.610

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

B Boubyan Petrochemical Co. B Burgan Bank

0.248

-8.0%

0.104

0.079

-16.3%

0.657

0.590

-7.2%

Trailing

Market Cap. (KWD '000)

5.3%

418,735

15.5

-4.4%

-13.0%

88,088

nmf

-3.0%

1.7%

923,076

-21.1%

-4.8%

-20.0%

233,931

0.580

0.0%

0.580

0.570

110

0.620

0.530

-6.5%

-1.7%

1,013,976

0.415

178

-14.6%

641,161

0.620

0.0% 0.0%

0.104

0.620

0.415

-1.2%

1.700

-1.2%

1.720

1.700

298

0.280

-1.8%

0.285

0.280

0.430

-1.2%

0.430

0.400

-2.0%

0.196

0.194

JAJazeera Airways

0.450

-2.2%

0.450

0.445

0.270

-3.6%

0.450

1.260

0.280

175

32 -

0.700

-16.0%

0.0%

-15.1%

0.055

0.019

-10.9%

1.300 0.255

0.425

1.260

-12.6% -29.1%

7.6% 7.7%

0.0%

54,503

37.2

1.0

1,004,898

nmf

16.6

2.6

0.236

-5.3%

-28.6%

-1.1%

10.7%

-2.2%

264,513

40.6%

262.9% -1.8%

nmf

3.1

7.3

1.5

3.8

145,500

17.3

1.0

99,000

9.4

3.8

nmf

71,091

-26.2%

1.9

0.9

79,485

-7.2%

14.1%

4.1

10.6

-61.2%

-2.9%

-9.3%

1.4

150,294 64,309

-25.9%

4.2

12.7

nmf

-59.1%

0.415

1.2

181,553

0.096

0.630

34.3

-12.1%

-11.3%

0.242

0.285

300,762

37.0

-25.9%

1.1

nmf

1,132,228

-15.8%

0.118

nmf

-13.1%

-19.2%

0.485

36.1%

1.0

1.5

78,000

164,272

-29.1%

1.9

5.9

-11.5%

0.285 0.138

-5.6%

0.5

18.3

-22.1%

0.495

650

-8.2%

0.940

1.700

-20.8%

17.0%

-44.7%

0.552

10.7% 22.6%

0.395

-1.6%

-16.1%

-38.1%

1.945

-1.9%

0.198

0.214

0.410

-16.1%

0.420

292

0.530

0.524

0.085

0.630

430

0.270

0.124

0.194 0.099

-1.6%

0.415

6.7%

0.280

IK Ikarus Petroleum Industries Co.

K Kuwait Cement Co.

0.435

12 mths

0.380

1.260

K KIPCO Asset Management Co.

1,030

YTD

1,410

C Gulf Cable and Electrical Industries Co.

IF International Finance Co.

on high

419

0.049

IF IFA Hotels & Resorts

% Change

Low

0.295

0.790

G Gulf Bank

406

52-Week High

0.300

C Commercial Bank of Kuwait G Global Investment House

0.390

Volume ('000)

0.0%

0.260

F Commercial Facilities Co.

0.400

Turnover (KWD '000)

0.300

A Burgan Co. for Well Drilling

C Combined Grp Contracting Co.

Low

286,945

0.7

nmf

0.9

20.1

1.9

K Kuwait Finance House

0.740

1.4%

0.750

0.730

1,460

1,975

1.019

0.720

-27.4%

-11.2%

-24.6%

2,149,081

35.7

1.2

K Kuwait International Bank

0.270

0.0%

0.270

0.265

456

1,710

0.350

0.236

-22.9%

5.9%

-16.9%

280,078

25.8

1.3

K Kuwait Projects Co. (Holding)

0.310

-2.8%

0.310

0.300

228

750

0.409

0.271

-24.2%

6.7%

-18.6%

394,608

13.1

F Kuwait Food Co.

1.420

P Kuwait Portland Cement Co.

0.880

0.0%

0.880

1.620

1.380

1.580

0.660

-12.3%

-44.3%

23.9%

-0.2%

25.3%

-9.2%

2.2%

1.7%

0.990

0.960

1,690

1,720

0.982

0.636

1.040

-1.9%

1.060

1.040

555

530

1.145

0.909

N National Industries Grp. Holding

0.228

0.9%

0.230

0.224

499

2,200

0.285

0.192

-20.0%

N National Real Estate Co.

0.128

4.9%

0.128

0.122

520

4,180

0.168

0.056

-23.8%

0.214

0.0%

0.216

0.214

215

1,000

0.226

0.186

-5.3%

0.104

740

0.136

0.093

M Mabanee Co.

M Mena Holding

0.980 0.033

N National Bank of Kuwait N National Industries Co.

N National Investments Company O Oula Fuel Marketing Co.

A Qurain Petrochemicals Industries Co. S Salhia Real Estate Co.

S Sultan Center Food Products Co. T Tamdeen Real Estate Co.

A The Commercial Real Estate Co. S The Securities House N Wataniya

0.300

0.148

0.0%

0.275

0.152

3.5%

0.234

0.220

0.232

-2.5%

0.232

0.228

0.130

0.106 0.095

0.730

1.9%

0.106

3.3%

0.097

0.092

1,514

-0.9%

2.160

0.0%

0.730

0.720

1,046

0.340

5,420

803

0.144

0.234

2.160

Z Zain Kuwait

0.260

0.295

0.148

0.360

240

0.265

0.246

380

0.200

0.270

0.216

15,920

0.095

0.067

2.280

1.800

1,440

1.380

0.690

-4.1%

0.0%

-11.8%

-49.8%

-4.1%

570,843

-42.1%

79,996

11.9

2.0

31.5

1.3

0.7

49.6%

598,965

28.8

4.1

-3.1%

4,527,638

14.9

2.1

-12.3%

295,283

0.0%

25.5%

0.0%

7.1%

-14.0%

-23.6%

-8.3%

-4.9%

12.5%

0.0%

21,780

-9.1%

-47.1%

2.3

103,861

24.5

129,680

nmf

90,667

1.3

nmf

0.7

nmf

0.6

13.0

1.1

-6.8%

0.1

22.3

2.1

0.0%

12.6%

235,400

-22.1%

-11.7%

-14.5%

61,356

0.0%

23.4%

30.1%

174,307

16.6

0.7

-5.3%

11.3%

20.0%

1,088,711

3.0

1.4

-14.1%

0.0%

-47.1%

0.9%

0.0%

-18.9%

6.4%

119,977

-9.0%

86,564

0.0%

88,400

-47.1%

3,144,500

16.7

0.9

nmf

0.9

22.6

0.9

nmf

7.0

11.0

1.5

UAE Rebased Performance

Summary

Best Performers 1,672 (-0.4%)

DFM Index (% Chg.)

135

2,532 (-0.6%)

ADSM Index (% Chg.)

68% SIB.ADSM Sharjah Islamic Bank 0.29 ARMX.DFM Aramex 1,754 / 1,301 DIB.DFM Dubai Islamic Bank

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

125

DFM Index 52 week High / Low

Highest Turnover

A Arabtec Holding

D Dubai Financial Market 11-Feb-12 S&P GCC Large/Mid Composite

11-Mar-12 Abu Dhabi SE

21,619,747

TATamweel

11-Apr-12

1.0%

0.72

Turnover (AED) 47,895,768 GCEM.ADS Gulf Cement Co. 29,780,897 CBD.DFM Commercial Bank of Dubai 23,295,552 DEYAAR.D Deyaar Development Co.

E Emaar Properties

95 11-Jan-12

1.1%

0.4%

Worst Performers

107

105

1.82

402,861,184

Market Cap. (AED '000)

114

1.7%

2.00

343,862

Turnover (AED '000)

% Chg.

3.51

0.90

2,775 / 2,293 AIRARABIA Air Arabia

ADSM Index 52 week High / Low 115

Close ADIB.ADSM Abu Dhabi Islamic Bank

17,881,054

D du

% Chg.

1.13

-4.2%

0.41

-2.2%

2.80

SOROUH.A Sorouh Real Estate Co.

1.18

ALDAR.AD ALDAR Properties

1.18

-3.5%

-1.7%

Dubai FM

Quotes Company Name

Daily % Chg.

High

Low

Turnover (AED '000)

A Abu Dhabi Commercial Bank

3.24

-1.5%

3.27

3.20

15,991

T Abu Dhabi National Energy Co.

1.34

-1.5%

1.34

1.32

201

A Air Arabia

0.72

0.4%

0.74

0.72

15,763

A Abu Dhabi Islamic Bank

A Abu Dhabi National Hotels A ALDAR Properties

3.51

2.19

1.7% -

3.37

29,781

0.0%

1.01

0.98

107

0.0%

0.50

0.48

2,530

0.40

3,327

3.12

17,881

-0.9%

A Arkan Building Materials Co.

1.00

D Dana Gas

0.49

A Aramex

C Commercial Bank of Dubai D Deyaar Development Co. D du

1.82

0.41

-2.2%

3.16

D Dubai Islamic Bank

2.00

E Emirates NBD

2.84

E Etisalat

F First Gulf Bank

G Gulf Cement Co. M Mashreq

N National Bank of Abu Dhabi N National Bank of Fujairah

N National Bank of Umm Al Qaiwain S Sharjah Islamic Bank

S Sorouh Real Estate Co.

1.1%

-3.5%

1.20

E Emaar Properties

2.80

D Dubai Financial Market

0.0%

-0.4%

2.87

2.84

9.42

-1.0%

91.45

-4.2%

8.67

-0.3%

1.78

1.1%

U Union National Bank

2.97

-1.0%

U United Arab Bank

3.95

* Closing Prices, Turnover and Market Cap. in USD

0.48

3.19

1.99

-1.7%

U Union Properties

0.42

2.70

2.03

-0.5%

1.34

2.80

1.81

1.0%

1.18

T Tamweel

1.82

1.18

8.63

0.90

1.21

-0.6%

4.51

1.20

-0.8%

3.23

1.13

3.50

3.42

A Arabtec Holding

5,425

17,273

-1.7%

1.02

3.45

1.17

1.18

A Amlak Finance

3.55

-0.7% -0.4%

3.25

8.69

9.51

1.13 -

8.72 -

2,673 153

23,296 9,660

3.20

47,896

8.55

13,612

9.16

1.13 -

8.57 -

8,944

1,397 -

1,044 -

106

0.90

1.36

1.30

21,620

0.46

6,490

1.20 2.98

0.48 -

1.16

12,456

2.97

149

Volume ('000)

52-Week High

% Change

Low

on high

YTD

12 mths

Trailing

Market Cap. (AED '000)

4,931

3.32

2.59

-2.4%

16.5%

25.1%

18,129,736

6.0

0.8

150

1.63

1.14

-17.8%

11.7%

-13.0%

8,341,500

12.8

1.1

-6.5%

23.0%

-1.9%

3,364,691

12.5

0.6

0.0%

1,530,000

nmf

1.1

1,546 -

21,695 14,633 -

3.55

2.92

-1.1%

11.1%

2.94

2.02

-25.5%

1.68

0.76

-29.8%

28.3%

-21.3%

0.77 -

0.57 -

0.0%

-0.5%

17.0%

0.0%

-19.5%

8,673

3.63

1.24

-5.8%

115.1%

144.3%

107

1.68

0.71

-40.5%

-1.0%

5,172

0.71

0.34

-31.0%

8.9%

1,471 55

8,152

5,664

19,555 4,804

1.96

3.24

0.46

3.30

1.46

2.31

1.69

2.76

0.20

2.80

-7.1%

-13.5%

-10.8% -4.2%

0.68

-17.8%

1.88

-13.4%

14,864

3.49

2.41

1,577

11.20

8.63

2.65

-38.7%

148

10.75

6.98

102.00

74.70

4.70

3.00

118

1.02

0.80

3,138

120 -

4.63

1.56

9.00

2.39

0.67

7.38

-5.5%

nmf

-24.6%

3,234,981

-5.1%

13.2

-5.7%

6.9%

-0.9%

7,594,108

11.7

1.7

28,260,000

7.6

1.1

18.8

1.3

-19.9%

22.4%

927,839 -

9.4%

33,592,421 2,848,000

40.9%

0.24

3.28

-3.4%

85.3%

-21.0%

8.5%

51.3%

-25.5%

8.9

0.9

2.4

0.5

9.3

0.5

4.9

0.7

1,340,000

13.2

1,609,358

nmf

3,935,785

0.7

1.3

8.7

7,412,006

0.5

9.1

2,182,950

-5.4%

35.4%

nmf

17.7

2.8%

4.7%

6.2

4,961,000

3,097,500

122.2%

0.8

68,229,988

15,784,080

-12.6%

-23.8%

1.3

-15.8%

38.8%

-10.1%

7.5

2.3

0.6

-25.5%

2.82

nmf

0.4

11.0

-1.7%

0.53

1.4

1.1

19,674,700

-25.5%

7.1%

1.7

-0.3%

1.63

-11.8%

0.7

0.6

14,445,714 9,600,000

0.3

0.9

6.4

2.3%

-8.4%

1.3

6.9

nmf

-9.9%

-3.7%

5,707,386

12.6

2,345,868

-10.3% -4.0%

2,664,662

52.1%

12.1%

3.90

5.00

1,750,000

21.9% 59.2%

7.5

-40.5%

-2.2%

-12.4% -27.6%

4,820,452

8.7

20.1

-21.1%

3.1%

2,190,000

7.2

5,112,900

-3.4%

-23.4%

0.50

9.3%

42.9%

-22.9%

0.67

13,718

90.6%

25.7%

1.54 1.49

1.4%

-7.5%

10,588 16,240

1.1%

8,300,118

11.9

0.6 0.7

1.9

STOCKS WITH NBK CAPITAL

ALWATAN DAILY thursday, april 12, 2012

QATAR Rebased Performance

Summary

Best Performers 8,760 (-0.1%)

DSM Index (% Chg.)

120

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

114

459,183,956

Market Cap. (QAR '000)

Turnover (QAR) 48,583,866 ERES.DSMEzdan Real Estate Co. 19,397,367 QTEL.DSM Qatar Telecom

IQIndustries Qatar

18,827,158

Q Qatar Gas Transport Co. 11-Feb-12

11-Mar-12

S&P GCC Large/Mid Composite

15,848,692

Q Qatar National Bank

11-Apr-12

5.0%

9.22

4.3%

75.80

0.4%

51.90

0.4%

75.60

0.3%

Worst Performers

V Vodafone Qatar

90 11-Jan-12

CBQK.DSMThe Commercial Bank of Qatar

Highest Turnover

101

100

% Chg.

18.17

8,892 / 8,071 QNNS.DSMQatar Navigation 296,411 QIIK.DSM Qatar International Islamic Bank

DSM 52 week High / Low

Turnover (QAR '000)

110

56% AHCS.DSMAamal Co. 0.88 VFQS.DSM Vodafone Qatar

11,938,283

MMasraf Al Rayan

% Chg.

19.70

MARK.DSMMasraf Al Rayan

-1.3%

128.00

-0.8%

77.00

-0.5%

27.10

QIBK.DSM Qatar Islamic Bank DHBK.DSMDoha Bank

-0.7%

59.50

-0.5%

Doha SM

Quotes Company Name

A Aamal Co.

18.17

K Al Khalij Commercial Bank

16.50

C The Commercial Bank of Qatar

75.60

E Ezdan Real Estate Co.

19.70

B Barwa Real Estate Co.

28.25

D Doha Bank

59.50

Daily % Chg.

High

Low

Turnover (QAR '000)

5.0%

18.40

17.03

4,715

0.2%

28.50

28.20

9,780

59.50

2,823

-0.2%

16.70

16.50

1,680

0.3%

76.00

75.30

3,353

-1.3%

19.85

19.70

-0.5%

60.00

IQIndustries Qatar

140.00

-0.4%

140.60

139.60

19,397

Q Qatar Electricity & Water Co.

145.90

0.3%

146.00

145.60

3,391

0.4%

51.90

51.60

2,974

M Masraf Al Rayan

27.10

Q Qatar Gas Transport Co.

Q Qatar International Islamic Bank

17.72

0.0%

77.00

-0.5%

51.90

Q Qatar Islamic Bank

Q Qatar National Bank

134.40

Q Qatar Telecom

128.00

Q Qatar Navigation

75.80

V Vodafone Qatar

-0.7%

9.22

27.20

17.78

77.50

27.00

11,938

17.67

18,827

77.00

7,164

52-Week

Volume ('000)

High

% Change

Low

on high

24.09

15.40

-24.6%

14.3%

345

35.35

28.00

-20.1%

102

18.95

16.06

-7.2%

2.9%

22.50

-3.6%

138

148.50

118.80

153.50

129.50

56.20

45.50

440

1,063 93

28.10

19.58

85.30

-9.7%

4,977

135.60

107.69

5,236

9.22

-5.0%

76.30

128.00

87.50

-5.7%

-9.5%

128.60

-11.2%

16.59

-0.8%

48,584

0.9

-21.1%

122.73

8.95

9.1

18.60

141.73

9.58

10,992,771

24.97

118

4.3%

-19.7%

15,849

75.40

-5.7%

-10.0%

134.30

76.10

1.5

-3.9%

-11.6%

50.00

-12.9%

5,940,000

12.2

1.1

-0.5%

18,706,946

9.9

1.3

-11.3%

-15.4%

52,254,185

nmf

1.9

-2.7%

11.2%

20,325,000

14.4

5.3%

12,298,519

-3.2%

4.5%

1.2%

77,000,000

-0.1%

14,590,000 7,856,038

-8.6%

-7.7%

-3.9%

10.1%

-5.2%

-2.7%

6.3%

-8.7%

-9.2%

69.90

-13.4%

-0.9%

-11.1%

7.24

0.0%

22.1%

13.7%

-5.6%

18.3

68.00

67.00

8,994,150

85.50

134.80

0.4%

-12.9%

12 mths

Trailing

0.7%

-0.1%

5,920

YTD

265

Market Cap. (QAR '000)

-9.1%

1.7

9.7

2.9

11.2

4.8

2.4

9,814,116

11.8

6.7

18,194,576

13.3

1.6

94,043,636

11.8%

9.9

12.0

1.6

12.5

2.2

8,681,010

12.4

0.8

7,794,588

nmf

1.2

29,286,400

11.4

1.4

OMAN Rebased Performance

Summary

Best Performers 5,907 (0.4%)

MSM Index (% Chg.)

120

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

114

Turnover (OMR '000)

7,006,220

Market Cap (OMR '000) 103

405,268

O Oman Telecommunications Co.

11-Mar-12

S&P GCC Large/Mid Composite

329,003

B Bank Muscat

11-Apr-12

0.29

0.7%

0.59

0.0%

0.48

Turnover (OMR) 510,209 OTEL.MSMOman Telecommunications Co. 471,168 BKMB.MSMBank Muscat

R Raysut Cement Co.

11-Feb-12

5.3%

0.7%

0.6%

Worst Performers

O Oman Cement Co.

90 11-Jan-12

0.62

RNSS.MSMRenaissance Services

Highest Turnover

100

% Chg.

1.00

6,406 / 5,419 NBOB.MSMNational Bank of Oman 5,609 BKDB.MSMBank Dhofar

MSM 52 week High / Low

110

58% OCOI.MSM Oman Cement Co. 2.00 RCCI.MSM Raysut Cement Co.

188,626

N National Bank of Oman

% Chg.

1.28

-0.6%

RNSS.MSMRenaissance Services

0.59

0.0%

NBOB.MSMNational Bank of Oman

0.29

0.63

BKDB.MSMBank Dhofar

-0.3%

0.48

0.6% 0.7%

Muscat SM

Quotes Company Name

Daily % Chg.

High

B Bank Dhofar

0.481

N National Bank of Oman

0.294

O Oman Telecommunications Co.

1.281

-0.6%

R Renaissance Services

0.588

0.0%

B Bank Muscat

O Oman Cement Co.

R Raysut Cement Co.

-12.4%

0.292

189

641

0.324

0.291

-9.3%

1.278

405

1.041

-10.1%

0.582

0.458

-46.3%

0.297

5.3% 0.7%

329

0.629

0.628

1.285

1.016 0.582

on high

0.423

0.7%

0.620

Low

0.549

0.474

0.633

High

% Change

0.484

-0.3%

52-Week

Volume ('000)

0.6%

0.631

0.998

Low

Turnover (OMR '000)

0.610

510

0.991

471

522

0.679

823

0.572

0.620

316

0.416

1.425

472

1.097

0.711

1.094

-7.1%

YTD

12 mths

5.7%

-11.3%

-5.8%

-2.6%

-2.1%

15.9%

7.9%

-42.1%

-5.3%

0.0%

43.5%

-9.0%

31.3%

Market Cap. (OMR '000)

Trailing PE

529,156

13.2

2.3

325,759

9.5

1.2

-6.1%

1,133,777

8.8%

205,141

16.0

199,600

13.3

960,750

-8.0%

165,872

9.6

1.3

1.4

8.6

1.9

nmf

1.0

BAHRAIN Rebased Performance

Summary

Best Performers 1,134 (-0.1%)

BSE Index (% Chg.)

120

21% AUB.BSE #N/A

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

114

1,412 / 1,129

BSE 52 week High / Low

420

Turnover (BHD '000)

110

6,403,740

Market Cap. (BHD '000)

12,836

B BBK 11-Mar-12

S&P GCC Large/Mid Composite

1,350

A Ahli United Bank

11-Apr-12

#N/A #N/A

0.0%

#N/A

#N/A #N/A

#N/A

Turnover (BHD) 200,278 BATELCO.BBahrain Telecommunications Co. 184,639 #N/A #N/A

B Bahrain Islamic Bank

11-Feb-12

#N/A

% Chg.

0.60

#N/A

Worst Performers

B Bahrain Telecommunications Co.

90 11-Jan-12

#N/A

Highest Turnover

100

#N/A

Close Ahli United Bank

539

IT Ithmaar Bank

#N/A

% Chg.

0.45

-0.9%

#N/A

Bahrain SE

Quotes Company Name

Daily % Chg.

High

Low

A Ahli United Bank*

0.600

0.0%

0.600

A Arab Banking Corp.*

0.420

0.0%

0.420

B Albaraka Banking Grp.* B Bahrain Islamic Bank

B Bahrain Telecommunications Co. B BBK

IN Investcorp Bank*

IT Ithmaar Bank*

N National Bank of Bahrain U United Gulf Bank

* Closing Prices, Turnover and Market Cap. in USD

0.930 0.090

0.0%

0.452

-0.9%

797

0.400

0.090

0.456

0.090

0.0%

0.090

0.304

0.452

0.400

185

0.402

0.550

200

52-Week

Volume ('000)

0.090

0.0%

Turnover (BHD '000)

High 6 3

0.680

1.089

0.570

% Change

Low 0.599

on high -11.8%

-22.4%

-3.4%

-4.8%

-26.3%

0.428

0.390

-6.5%

0.105

0.065

0.424

0.270

0.625

1,306,200

0.0%

0.420

797

-26.3%

-14.6%

-22.4%

3,140,133

-0.4%

0.082

0.380 797

0.550

0.0%

Market Cap. (BHD '000)

-11.8%

-14.6%

0.116

0.492

-0.5%

12 mths

0.857

2,052 439

YTD

nmf

0.8

340,542

10.7

0.0%

-30.0%

637,560

-4.3%

-10.6%

470,448

-28.3%

1.3%

-21.7%

-25.1%

1.2

84,571

0.0%

38.5%

10.1

0.8

15.3%

-14.3%

PB 8.0

-8.1%

-12.0%

-6.6%

943,462

Trailing PE

650,880

240,999

253,707

6.4 8.1

0.4 1.3

1.4

4.5

0.6

10.3

1.7

nmf

0.4

1.2

LIFE

Talk to your doctor before you are pregnant The foods you eat, your health habits and the medicines you take could ultimately harm your unborn baby -- even before you become pregnant. So, experts recommend discussing your health with a doctor before you try to conceive. The Womenshealth.gov website mentions these discussion points: •Your birth control options and family planning. •Taking folic acid supplements. •Any needed screenings or vaccines, as well as managing any chronic health conditions. •Options to improve your general health, including losing weight, becoming more active or quitting smoking.

thursDAY, april 12, 2012

Dementia cases ‘to more than triple by 2050’: WHO PARIS: The number of people with dementia is expected to almost double to 65.7 million by 2030 as the world population ages, according to a World Health Organization report published Wednesday. And by 2050 the number of sufferers could be more than three times the current figure of 35.6 million, the UN body said. The report released by WHO and Alzheimer’s Disease International estimates the current cost of treating and caring for those with the condition at $604 billion (461 billion euros) a year. Dementia is caused by a variety of brain illnesses that affect memory, thinking, behavior and the ability to perform everyday activities. Alzheimer’s disease is the most common cause of dementia and accounts for about 70 percent of cases. More than half of sufferers (58%) live in low and middle income countries but this could rise to 70 percent by 2050. The report said far more effective diagnosis was needed, as even in high income countries only 20 to 50 percent of dementia cases are routinely recognized. “Since we know the prevalence of the disease will explode in this century as we all live longer -- the risk of dementia is 1 in 8 for those over 65 and a shocking 1 in 2.5 for those over 85 -- its impact will become greater as the decades go by,” according to Shekhar Saxena, head of the mental health department at WHO. “We need to increase our capacity to detect dementia early and to provide the necessary health and social

care,” said Oleg Chestnov, assistant director general of Noncommunicable Diseases and Mental Health at WHO. “Much can be done to decrease the burden of dementia. Health-care workers are often not adequately trained to recognize dementia.” Only eight countries worldwide -- Australia, Britain, Denmark, France, Japan, South Korea, the Netherlands and Norway -- currently have national programs in place to address dementia, according to the report “Dementia: a public health priority”. Germany and Sweden have set out lists of recommendations. The study also highlights a general lack of information and understanding about the disease, fuelling stigma with the result that people sometimes delay seeking support. “It is now vital to tackle the poor levels of public awareness and understanding, and to drastically reduce the stigma associated with dementia,” said Marc Wortmann, executive director of Alzheimer’s Disease International. “We need to act, we need to stop this epidemic.” In its report, the WHO recommends that authorities seek to reduce the stigma that has long been associated with dementia, and improve general care for victims, along with support for caregivers. It is currently not possible to treat dementia, but progress of the disease can in some cases be slowed down. -AFP

Weight-loss programs may yield best results for obese

NEWYORK: Joining a weight-loss program may be the best bet for obese people who want to lose weight, a new study suggests according to LiveScience. Obese survey participants who reported losing at least 10 percent of their body weight in the previous year were more likely to have joined a weight-loss program, compared with those who hadn’t lost that amount of weight. Participants who reported losing at least 5 percent of body weight in the previous year were more likely to say they ate less fat, exercised more and used prescription weight-loss medications. Eating diet foods and products, taking nonprescription diet pills, and using popular diets were less successful strategies, according to the researchers. “This suggests that the structure of being in a program may be more important,” said study researcher Dr. Jacinda Nicklas, of Harvard Medical School in Boston. Moreover, “it is possible that some dieters may be overeating diet products because they believe they are healthy, or low in calories.” The study showed associations between weight-loss strategies and actual weight loss, not cause-and-effect links, and more research is needed to confirm the findings. About a third of people in the US are obese, and 50 to 70 percent of them are trying to lose weight, according to the study. Nicklas and her colleagues analyzed data collected on 4,000 obese adults during the National Health and Nutritional Examination Survey conducted from 2001 to 2006. The survey collects demographic, health, and health behavior information from US adults. The survey showed that 63 percent of the respondents had tried to lose weight in the last year; regardless of whether they were successful, these participants were shown a list of weight-loss strategies and asked which ones they used. About 500 of the study participants reported losing 10 percent of their body weight or more in the previous year. About 1,000 said they lost 5 percent. About 10 percent of study participants said they joined a weight-loss program. There was no evidence that liquid diets, nonprescription diet pills and popular diets were linked with successful weight loss, according to the study. In fact, people who reported losing more than 10 percent of their body weight were less likely to report eating diet foods and products, compared with those who lost less. In the study, prescription weight-loss medications were associated with successful weight loss, though the researchers said only 3.5 percent of participants reported using them. Nonprescription weight-loss pills, which were not linked with weight loss, were used by about 10 percent of participants. “These results tell us that Americans use many weightloss strategies that are not associated with significant weight loss, including nonprescription weight loss medications. Public health efforts directing Americans to adopt more proven methods may be warranted,” Nicklas said.

FILE - The number of people with dementia is expected to almost double to 65.7 million people by 2030, according to a World Health Organization report. (AFP)

Bacteria ‘munching’ on Titanic: scientists PARIS: In less than 30 years, there may be nothing left of the Titanic but a heap of “rusticles,” warns researcher Henrietta Mann, who has spent four years researching bacteria gnawing on its sunken hull. A scientific expedition in 1991 to the disintegrating wreck some 12,400 feet (3,780 meters) to the ocean floor revealed the formation of rust similar to icicles or stalactites in appearance hanging off the massive ship. They normally occur underwater when wrought iron oxidizes. Mann, a biologist and geologist at Dalhousie University in Halifax, obtained samples from the Bedford Institute of Oceanography and scrutinized them under an electronic microscope. She discovered that bacteria, not a chemical process, were behind these particular deep water formations. The Canadian researcher identified dozens of bacteria, including one never seen before, which she dubbed Halomonas Titanicae, that had been “munching” on the steel hull and busily transforming it, atom by atom, into rusticles, some as tall as men. Invisible to the naked eye, measuring only 1.6 micrometers in length, the

bacteria have multiplied into billions over the years. “The Titanic is 50,000 tons of steel,” Mann told AFP. “So, there is plenty of food for my bacteria.” The bacteria also appear to find delicious the ship’s windows, stairways, and gates -- all made of rough iron -- as well as its cast iron furnaces. “They eat these as well,” Mann said. Only the brass is not being touched. “I don’t know the speed of eating of the iron by the bacteria,” but comparing the earliest photos of the wreck with the latest it is clear that rapid change is occurring. “Maybe in 20 or 30 years the wreck will collapse (into a) heap of rust,” she said. Mann recorded 27 bacteria living in the rusticles, some with tentacles, as well as tube worms and other tiny creatures, in a “symbiotic colony.” The first of them were likely created by diatom (unicellular algae) in “marine snow” -- dirt from the surface. One bacteria then produced others and together they formed a chain and then a net, more bacteria grew over the net and holes filled in and finally the structures hardened into rusticles with channels inside where water circulates.

This undated handout photograph obtained courtesy of Titanic Inc. shows “rusticles” from the Titanic. In less than 30 years, there may be nothing left of the massive ship but a heap of rust similar to icicles or stalactites in appearance, warns researcher Henrietta Mann, who has spent four years researching bacteria gnawing on its hull. (AFP)

“Its structure is like a sponge,” Mann explained. The disintegration of the Titanic would certainly mean a tremendous loss of heritage, says Mann. But at the same time her discovery of-

fers hope: all of the old ships, oil rigs and cargo that fall to the bottom of the sea will not pile up like garbage. Bacteria will eventually dispose of it all. -AFP

Botox may treat unusual ‘threads in eyes’ condition NEW YORK: Botox injections may help treat a rare eye condition in which threadlike strands appear in patients’ eyes, a new study says according to LiveScience. The study involved 33 patients with a condition called filamentary keratitis, in which dead cells on the eye’s surface link together to form filaments, causing patients to feel as though they have something stuck in their eye. After an average of two years of getting Botox injections administered into a muscle in the eyelid, 29 patients (88 percent) saw improvements in their condition, the researchers said. All patients in the study had previously tried other treatments, including attempts to physically remove the

strands or medications to lower eye inflammation, but they hadn’t worked. While no significant side effects were observed, one drawback to the treatment was many patients required several injections (four, on average) to see a therapeutic effect, the researchers said. Patients were evaluated every six to 12 weeks, and additional injections were given if needed. The exact cause of filamentary keratitis is not known, but it most often accompanies the condition called dry eye, the researchers said. It is more common among women and the elderly. Because the filaments adhere to the eyes’ surfaces, blinking may exacerbate the condition, causing pain,

chronic inflammation and tearing of the eye’s surface, the researchers said. This leads to a vicious cycle in which the patient reflexively blinks in response to an object in the eye, only to make the condition worse. “Breaking this vicious cycle is important for managing challenging cases of filamentary keratitis,” the researchers, from the Baylor College of Medicine in Houston, wrote in the April issue of the journal Archives of Ophthalmology. Botox may aid in treatment of the condition because it reduces blinking frequency and the pressure of the eyelid on the eye’s surface, the researchers said. Larger trials of the therapy are needed to verify the results, the researchers said.

‘Living fossil’ fish is even older than thought

NEWYORK: A group of ancient fish, called coelacanths, have changed so little over time they are known as “living fossils.” Now, the remains of a skull found in the Yunnan Province of China, confirms these creatures have been around, largely unchanged, for more than 400 million years according to LiveScience. Once thought to have died out at roughly the time the dinosaurs disappeared, the first living coelacanth was discovered in a fishing net in 1938 off the eastern coast of South Africa. Since then, others have turned up elsewhere along the coasts of the Indian Ocean. While it’s clear their history goes way back, the fossils they left behind have been scarce so far. A lower jawbone, more than 400 million years old and discovered in Australia, hinted at the earliest known emergence of coelacanths whose appearance matched the two species alive today. This small fossil has been described as the oldest coelacanth, but the authors of the recent research write that it offers so little information that it cannot be reliably placed within the fishes’ family tree.

The newest fossil evidence, the remains of a skull, date back to almost the same time and contain more definitive features that indicate both it and the Australian fossil were “modern” coelacanths, according to the study researchers writing in the April 10 issue of the journal Nature Communications. The discovery reinforces what was already suspected about coelacanths: After a period of rapid diversification long ago, these fish have remained pretty much the same over hundreds of millions of years, according to Matt Friedman, a lecturer in paleobiology at the University of Oxford, who was not involved in the research. “It makes their sort of anatomical conservation, this lack of major change over geological time, much more impressive,” Friedman said. In fact, the discovery extends the record for coelacanths with modern-looking bodies back by about 17 million years, according to the researchers, led by Min Zhu of the Chinese Academy of Sciences.

Coelacanths belong to an ancient group, the lobe-finned fishes, which have fins attached to stalks, rather than directly to their bodies. More than 400 million years ago, the coelacanths are believed to have split from off from other lobe-finned fishes, which later gave rise to modern lung fishes and to tetrapods - fourfooted animals, including us. So, our closest relatives among fishes are lung fish and the living species of coelacanths, which belong to the genus Latimeria, Friedman said. Modern coelacanths are set apart by their symmetrical tail, a relatively long snout and a jointed skull, which allows them to open their mouths widely. More primitive lobe-finned fish also have this joint; however, their skulls are proportioned differently, according to Friedman. The skull joint and the presence and position of large sensory pores - part of a system fish use to detect changes in water pressure helped the researchers place the skull within the coelacanths’ family tree.

FILE - The coelacanth, a “living fossil” fish that predates the dinosaurs, is some 17 million years older than previously thought, scientists have found. (AFP)

ALWATAN DAILY

CULTURE

thursDAY, april 12, 2012

Microsoft Imagine Cup offers opportunities for intellectual growth Onilda Fernandes Staff writer

KUWAIT: With backgrounds in software development, six shortlisted teams from two universities in Kuwait set out to solve some of the world’s toughest issues. Creating innovative technology, students from the American University of Kuwait (AUK) and Kuwait University (KU) competed; introducing five projects that they hoped would win the Imagine Cup 2012 Kuwait and in the future, enter the market. “The objective of Microsoft Imagine Cup is to encourage the participants to use technology to make the world a better place by addressing the challenges we see around us,” said Ehab Mostafa, Country Manager, Microsoft Kuwait. Using Microsoft tools and technology, competitors could unleash their ideas and technical talent to create cutting-edge software applications. Five teams (four from AUK and one from KU) developed, tested, and built their ideas into applications that could help solve difficulties such as environmental sustainability, access education and healthcare, and presented their projects to the judges. The finale event held under the auspices of the Central Agency of Information Technology at Salwa Sabah Al-Ahmad Theatre & Hall in Al Salmiyah on April 9 announced the three winning teams with the first place winning team getting the opportunity to advance to the worldwide finals and represent Kuwait at the event which will be held in Sydney, Australia in July 2012. The local competition was supported by Zain, the Kuwait Foundation for the Advancement of Sciences, and Burgan Bank. “It gives me great pleasure to announce the top three winning teams. These teams have truly stepped up to the challenge and presented sophistication and creativity through their innovative solutions. I am pleased to say that the efforts of all top three winning teams were recognized as an excellent projection of the creativity and innovation that drives the youth in Kuwait,” said Mostafa. The judging panel included Dr. Salah Baqer from the Ministry of Health, Yaqoub Yousef

The three winning teams on stage at the Salwa Sabah Al-Ahmad Theatre & Hall in Al Salmiyah on April 9.

Khajah, Senior Manager at Zain, Eng. Manar Al-Hashash, CEO of DotDesign, and Eng. Suad Al-Nsafi, Central Agency for Information Technology, based on 50% idea, 10% problem definition, 20% developing prototype and 20% presentation. “We witnessed an unprecedented success that surpassed all of our expectations in this year’s edition of Imagine Cup,” said Waleed AlKhashti, Corporate Communications & Relation Department Manager at Zain. “The top three winning teams at this year’s Imagine Cup set an excellent example of what true innovation and creativity is all about. Imagine Cup is an initiative that will continue to inspire younger generations to make a difference in the world around them through technology and we are very pleased to be part of an initiative that nur-

tures young talents in Kuwait.” The first place winners were ‘The Code Breakers’ for their ‘Universal Sign System’: The team explained that this Kinect-based application recognizes sign language and synthesizes it into a human voice. “This would allow easy spoken conversations for those who need to communicate with sign language.” Second place winner was ‘Team 1337’, who introduced the ‘Home Rehabilitation System’ (HRS): “HRS is a Windows 7-based application that provides patients in need of paralysis rehabilitation, with remote physiotherapy guidance in the comfort of their homes. The software uses a webcam to recognize the patient’s face and then assigns an appropriate exercise routine. Medical professionals will be able to use the system to monitor progress remotely.

Everything from booking an appointment, to asking questions and follow ups can be done without leaving the house,” explained Mubarak Al-Enezi from team 1337. His partners Khaled Al-Hazeem and Dalar Al-Qahtani added that they plan to provide this application to various rehabilitation centers and put up information centers in the hospitals telling patients that they have an alternative option besides going to rehabilitation centers. “This will help lots of patients and save money in the process.” The third place winners were ‘Team GG’, with the project ‘KinEd’. “This solution utilizes Microsoft’s game changing Kinect motion activated system, and provides students with a variety of different mini games and learning tools for different subjects, particularly Math

KidZania, kid-sized city combines education and entertainment

Cross section photo of KidZania soon to open at the Phase 3 of the Avenues Mall. Ricky Laxa Staff Writer

KUWAIT: A 7,000 square meter kid-sized city with seventy five varied activities that encircle real life careers and conglomerates. KidZania, a selfcontained fun-learning hub is designed to educate, inspire four to fourteen years old and help young children learn about life in a fun and engaging way. Kuwait President of KidZania Fernando Medroa answered questions detailing the concept and its roles for the education and personal development of children. “Kids have a real hunger for more powerful play experiences that help them to learn, create, explore and collaborate. As a unique concept which unites education and entertainment, we call it ‘edutainment’, KidZania has won awards worldwide for its success, which keeps kids coming back time and again. KidZania truly gets kids ready for a better world and we are delighted to be bringing KidZania to Kuwait later this year,” commented Medroa. Below is an excerpt of the interview. Kindly provide a brief concept of KidZania and its features?

KidZania: KidZania is a child-sized replica of a real city, including real-life companies, with buildings, shops and vehicles and pedestrians moving along its streets. In KidZania, children choose jobs to role-play, to learn about the adult world, including the value of money. In these jobs, children role-play doctors, firefighters, pilots, chefs and more, in locations that are as close to real-life as possible. This helps children understand and appreciate different jobs through a hands-on approach, and how the world around them works, offering them the opportunity to be part of creating a better world. It has more than seventy-five different and interesting activities

(4th from right, back row) KidZania President Fernando Medroa with some of the children and staff.

that children can do during their visit to KidZania: piloting an airplane, putting out fires, being a paramedic or surgeon for a day, hosting and supporting the production of a television program, or working in a petroleum lab.

wait they will feel independent and free and they will be entertained while they learn, and with so many different roles and activities, they will want to come back again and again.

What can KidZania contribute to the educational development of a child?

KidZania: All children below age 14 are welcome to KidZania. The children will perform their activity together guided by a Zupervisor. Activities and tasks will be distributed to the children depending on their age. For toddlers there is a dedicated section called Urbano’s House’.

KidZania: Each activity is specifically designed to aid and boost different skills and values in a child. For example, activities such as wall climbing strengthen motivation and perseverance in a child, whereas the firefighter role encourages children to work together as a team in overcoming problems. Furthermore, by working together in different groups, children are given the opportunity to collaborate, encouraging socialization. With the many activities that are all based on real world professions, kids are learning the value of having a career and the contributions they can bring to the broader community. KidZania helps give kids hands-on experience in how individuals work together, and also demonstrates the principles of economy in a fun and relatable way. What are KidZos?

KidZania: KidZos are the national currency of KidZania. When children role-play a profession, they earn KidZos, which they can then use to purchase items within the park, or can save in the bank when they open their accounts. What makes KidZania different from other educational and fun centers?

KidZania: The KidZania experience is about real-life experiences, teaching and inspiring kids through role-playing, not just going on a ride. KidZania empowers children to be strong and independent, and promotes social values through all of its activities. When children come to KidZania Ku-

Is KidZania open to all ages?

Is the place child’s proof and secured?

KidZania: KidZania employs a state of the art security system, where each visitor that enters KidZania is given a unique security bracelet allowing KidZania staff to track and locate each individual child throughout the city. The security bracelets are also assigned in groups as they come in, so a child cannot exit KidZania if an adult or the whole group is not present. This safety aspect ensures parents that their children are kept safe within KidZania at all times. Also, all our establishments are built in a way that parents get to observe their children participating in the various activities within the establishment via a glass wall. However; we usually encourage children to be independent within KidZania; hence parents can relax in the parent’s lounge, which is equipped with Wi-Fi and a movie room, while they wait for their children.

and Science in a way that encourages human interaction with material to be learned,” explained Talal Al-Yaseen from Team GG to Al Watan Daily. The other three members of the team Ali Taqi, Omar El-Khatib and Thamer Al-Mayyan insisted that they have planned a month trial of their system for students in the age group 6-15. “Our target will be the Kuwaiti market and we will use social media to advertise it.We hope to get a good sponsor for the same.” “The Code Breakers” team also won the Mobile Development Award which is supported by Zain. Their solutions demonstrated the best use of mobile technology and they were recognized for their efforts and creativity at the event. The audience voted for their favorite team using twitter and “Team GG” won the title for The People’s Choice Award by gaining the highest number of votes. The two teams that didn’t make it also offered great solutions. A team from KU who called themselves ‘Arab Rocks’ reintroduced ‘Shipment Care’, which they had competed with last year as well. Adding more features to their software this year, the team explained that Shipment Care is a system that provides tracking and monitoring services for shipments transported by sea. If the monitoring data indicates exceeds predefined safety limit sets (changes in temperature, pressure or any other safety related factors) alerts will be triggered automatically and the concerned users will be notified. It will also consequently help avoid environmental disasters. ‘Triq8 team’ offered Phyzio which provides access to an environment where patients are able to perform their physical therapy in the comfort of their homes and gives the physical therapists or the OB/GYN, per session physical therapy reports of the patients from within the Phyzio environment. The Imagine Cup comprises five major technology competitions. Started in 2003, it has steadily grown in size, with more than 358,000 competitors representing 183 countries and regions in 2011. This year, it was decided that Kuwait organizes their local event instead of holding it in Dubai as previously.

FSRI, Porsche Center Kuwait launch Early Childhood Road and Traffic Safety Program

Michael A. Kolarov Staff Writer

KUWAIT: The Fawzia Sultan Rehabilitation Clinic (FSRI) a non-profit rehabilitation center that designs and supports innovative health reform initiatives intended to address the most pressing public health challenges facing Kuwait, in partnership with Porsche Center Kuwait, launched a successful road safety education program targeting children with the ambition of changing society’s perception of road and traffic safety. Qadsia Club generously provided facilities for the education program, where a simulated road environment has been set up. The ‘Early Childhood Road and Traffic Safety Program’ was created as part of the Decade of Action for Road Safety which began in 2011 and is an international World Health Organization (WHO) and United Nations (UN) global initiative aimed at reducing worldwide traffic accidents and fatalities. According to a Press Release issued by Porsche Center Kuwait, this year through the RunQ8 10km for Road and Traffic Safety, FSRI was able to raise funds through sponsors, and to partner with local organizations to implement initiatives that address the goals set out for this Decade of Action. Under the Patronage of His Excellency Shiekh Ahmed Al-Humoud Al-Sabah, Deputy Prime Minister and Minister of Interior, the initiative introduces school children aged between three and seven to various issues of road and traffic safety by using age appropriate learning material to teach children the basics of road signs, the dangers of not wearing their seat belts, as well as the dangers of talking on the phone while driving. The program also teaches children the value of being courteous on the roads, when to give right of way and the importance of driving slowly and being alert. Children are instructed using the Porsche 911 pedal car, which features precision chain drive, adjustable seats, steering wheel with horn and engine sounds, hand brake, forward and reverse pedaling, and adjustable seat belts. Sadly, according to Porsche, there are no plans to introduce an adult sized pedal powered 911. Children must wear adjustable seat belts when driving the Porsche cars around the specially designed circuit at Qadsiya Sports Club complete with working traffic lights, roundabouts, junctions, tunnel, speed bumps and a pedestrian crossing. “Children can have a strong influence on their parents and the people around them,” says Eleanor Burton, Director of Social Responsibility at FSRI, who also explained that “Research indicates that young children form attitudes that will shape their behavior later in life, and with early intervention, we have a direct impact on their future behavior.” Roger Kyriacou, Deputy General Manager at Porsche Center Kuwait explains, “It is best if children experience the importance of road safety first hand in a fun environment suitable for their age. We are proud to be part of such a comprehensive social responsibility project and look forward to teaching thousands of children here in Kuwait. It is so important to emphasize on road safety starting at an early age.” Michael Finn, the Program Coordinator informed Al Watan Daily at a press conference that the program will run for all of April through to December at the Qadsiya Sports Club. Al Watan Daily was also informed that all schools in Kuwait are invited to participate and that over 7000 children are expected to attend the Porsche Early Childhood Road and Traffic Safety Program by the end of this year.

Where is KidZania located?

KidZania: KidZania Kuwait will be located on the first floor of the Phase three extension of The Avenues and is scheduled to open in the fall of 2012. Around the world, KidZania is located in nine facilities, and thirteen new locations will debut over the next two years, including one in US.

Children driving around the specially designed circuit at Qadsiya Sports Club.

ALWATAN DAILY

entertainment Song Of The Day

Fahad AlSabah Staff Writer

Song: I Heart You Artist: Toni Braxton Album: I Heart You - Single Genre: R&B/Dance In short: Toni Braxton is gearing up for a double-disc release later this year, and “I Heart You” is the first taste of that record; the chanteuse mixes her usual balladry with dance elements that breathe life into an otherwise run-of-the-mill Braxton ballad. While the song doesn’t live up to Braxton’s earlier material, it is good enough to put her name out there again. To listen to the song visit www.alwatandaily.com E-mail your feedback to falsabah@alwatandaily.com

The Buzz Director Gary Ross says no to Catching Fire Gary Ross says he won’t direct “Catching Fire,” the second installment in Lionsgate’s blockbuster “The Hunger Games” franchise. In a statement Tuesday, Ross says “after difficult but sincere consideration,” he decided not to direct the film. He blames limited time to write and prep the film because of the fixed, tight production schedule. Ross says making “The Hunger Games” was the happiest experience of his professional life. He also denies reports that negotiations with Lionsgate had been problematic. Lionsgate officials say in response that they’re “very sorry” Ross has chosen not to direct “Catching Fire” but they look forward to working with him on future projects. “-AP

HBO renews Game of Thrones “Game of Thrones” has been renewed for a third season, HBO announced Tuesday; according to TV Guide. “Series creators David Benioff and D.B. Weiss raised our expectations for the second season - and then surpassed them,” Michael Lombardo, HBO’s programming president, said in a statement. “We are thrilled by all the viewer and media support we’ve received for the series, and can’t wait to see what Dan and David have in store for next season.” The fantasy drama, based on George R.R. Martin’s ‘A Song of Ice and Fire’ book series, features a large ensemble cast, which includes Emmy and Golden Globe winner Peter Dinklage, Lena Headey, Emilia Clarke, Kit Harington and Nikolaj Colster-Waldau, among others.

Randy Travis sued by ex-wife and former manager Randy Travis is being sued by his ex-wife and former manager. Travis says the lawsuit filed last week by Elizabeth Travis in Nashville, Tenn., lacks merit and that it’s “unfortunate that it’s come to this.” But the country music star in the statement from his publicist doesn’t address her claim that he hired men to strip her office of records and memorabilia related to his career. Elizabeth Travis claims her ex-husband made it impossible for her to do her job and terminated their management agreement without written warning. She’s asking for damages, attorney fees, litigation costs and whatever other damages the court feels appropriate. -AP

Hanks, Thompson in talks for Saving Mr. Banks Tom Hanks and Emma Thompson are in talks to star in “Saving Mr. Banks,” an individual with knowledge of the negotiations told Reuters. The movie is a behind-the-scenes look at how Walt Disney was able to convince P.L. Travers to let his studio adapt “Mary Poppins” for the big screen. The result, of course, was an Oscar-winning film that made Julie Andrews a movie star and in many ways surpassed the fame of Travers’ book. However, it was an enjoyable confection that Travers hated. Hanks would play Disney, while Thompson is being eyed for Travers. -Reuters

Stallone has kitchen troubles and a lawsuit Sylvester Stallone says he was ripped off, and part of the blame goes to “Real Housewives of Beverly Hills” star Lisa Vanderpump. “Rocky” star Stallone filed a lawsuit in Los Angeles Superior Court on Monday, claiming that he’s out $1.4 million after hiring a contractor in part on the recommendation of Vanderpump. According to the suit, Stallone hired Mohamed Hadid in December 2009 to revamp his kitchen, including a 1,200 square foot extension, new cabinets, hardware, appliances and other improvements. However, Stallone claims, not only did Hadid not inform him that he wasn’t licensed to perform such work, but he attempted to overcharge the actor on material and labor, and performed “seriously substandard, defective and unsafe construction.” Among the many allegations against Hadid in the lawsuit, Stallone claims that Hadid promised to install “a premium wood kitchen butcher block that was in fact very cheap wood veneer fastened onto a plywood base,” to the tune of $10,000. Stallone wants his $1.4 million back, plus punitive and exemplary damages, interest and court costs. -Reuters

thursDAY, april 12, 2012

UK’s One Direction sued by US band with same name LONDON: Simon Cowell’s British boy band One Direction, among the hottest new acts in the music business, has been sued for trademark infringement because it is using the same name as a small California pop-rock group. In what is expected to be a multi-million dollar lawsuit, attorneys for the California band are seeking an injunction that would stop Cowell’s Syco Entertainment and Sony Music from using the name One Direction in promotional materials. They also want a share of the profits earned by the chart-topping British boys. The five Britons, who have taken the UK, the United States, and Australia by storm after being discovered on Cowell’s British talent show “The X Factor” in 2010, are named along with Syco and Sony Music Entertainment in the federal lawsuit filed on Monday in California Central District Court. The California band says it is entitled to three times the profits made by their rivals, as well as compensatory damages in excess of $1 million. Syco declined to comment on Tuesday, and a representative for Sony Music could not immediately be reached. The lawsuit claims that Syco and Sony

FILE - Members of British boy band One Direction pose at Nickelodeon’s 25th annual Kids’ Choice Awards in Los Angeles, California March 31, 2012. (Reuters)

Music “chose to ignore the plaintiff’s rights and wilfully infringed them” after they realized in early 2011 that the two bands share

the same name. The northern California band has been using the name One Direction since late 2009 and has recorded two albums, the

Leaked voicemails depict rift on Community NEW YORK: A second voicemail message from Chevy Chase leaked online Tuesday, depicting a deep rift between the veteran comedian and the creators of his ratings-challenged NBC sitcom “Community.” The show’s creator, Dan Harmon, played voicemails from Chase at a Los Angeles comedy show last year.They have since found their way on to the Internet, including a recording released Tuesday by Celebuzz.com. In the voicemail, Chase calls “Community” a “mediocre sitcom” that “is not my kind of comedy.” “It ain’t funny to me because I’m 67 years old and I’ve been doing this a long time,” Chase says. “I’ve been making a lot of people laugh, a lot better than this.” Though the recordings left on Harmon’s phone appear to have taken place during the show’s second season, they reveal just how badly things have been for Chase and “Community.” The now-68year-old “Fletch” and “National Lampoon” star was initially meant to be the most familiar face to the show, which has generally found critical acclaim and a cultish following. But the airing of such squabbles adds another challenge to “Community,” which had its current third season delayed to midseason by NBC, and which faces an uphill battle for renewal. Last week’s Thursday night episode drew 3.1 million viewers, a series low. NBC declined to comment. A representative for Chase said the actor was also declining. Harmon last week wrote a lengthy apology on his Tumblr page for what he called a “horrible, childish, self-obsessed, unaware, naive and unpro-

FILE - Actor Chevy Chase arrives at the 2012 Vanity Fair Oscar Party hosted by Graydon Carter at Sunset Tower on Feb. 26, 2012 in West Hollywood, California. (AFP)

fessional decision to play someone’s voicemail to me.” “I was airing my dirty laundry for a chuckle,” Harmon wrote. “That was a dumb, unclassy, inconsiderate move on my part. I’m very sorry it’s reflecting poorly on the show.” -AP

Simpsons creator: Real Springfield is in Oregon SPRINGFIELD, Oregon: One of the best-kept secrets in television history has been revealed, with “The Simpsons” creator Matt Groening pointing to Springfield, Oregon, as the inspiration for the animated hometown of Homer and his dysfunctional family. Groening told Smithsonian magazine, published online Tuesday, that he was inspired by the television show “Father Knows Best,” which took place in a place called Springfield. Springfield, Oregon, is 100 miles south of Groening’s hometown of Portland. “When I grew up, I realized it was just a fictitious name,” Groening told the magazine. “I also figured out that Springfield was one of the most common names for a city in the US. “In anticipation of the success of the show, I thought, ‘this will be cool; everyone will think it’s their Springfield.’ And they do,” he said. Groening said he has long given fake answers when asked about the Simpsons’ hometown, leaving open the possibility that his latest one is itself another fake.The show has made a running joke of hiding the true Springfield’s location. In one episode, daughter Lisa points to Springfield on a map, but the animated “camera view” is blocked by son Bart’s head. The series has been on the air for 22 years, becoming the longest-running American sitcom, the longest-running American animated program and a cultural phenomenon with colleges devoting courses to studying it.

People in the real Springfield - the one in Oregon - took on the mantle of the show’s hometown after Groening visited during a tour before the 2007 film “The Simpsons Movie.” Back then, tiny Springfield, Vt., beat out 13 other like-named cities, including the one in Oregon, to host the movie premiere. The cities submitted videos meant to connect themselves to the fictional Springfield. When Springfield, Oregon, community-relations manager Niel Laudati was told about Groening’s announcement, he said: “Oh OK, we knew that.” The city has already incorporated the Simpsons into its own town lore. The Springfield Museum features a couch similar to the animated one shown in the show’s opening credits, and a plaque marking the movie’s release. “Yo to Springfield, Oregon - the real Springfield!” Groening wrote. “Your pal, Matt Groening proud Oregonian!” The Springfield depicted in “The Simpsons” isn’t always a flattering portrait. The school is falling apart, there’s a constant fire at the town dump, and Mayor Quimby is chronically, helplessly corrupt. “We kind of got past it,” Laudati said. “We don’t dwell on the bad stuff. Obviously we don’t have a nuclear power plant. We don’t have a lot of stuff in the Simpsons. “What we do have are a lot of blue-collar working families that go to church every week and eat dinner together,” Laudati said. “That is accurate.” -AP

Talk show host Ricki Lake marries Talk show host Ricki Lake has married her jewelry designer fiancé in southern California. Lake, 43, told People magazine that she and Christian Evans, 40, married on Sunday in a secret ceremony. The pair had been dating for about 18 months. It’s the second time at the wedding altar for Lake, whose 10-year marriage to artist Rob Sussman ended in divorce in 2004. She has two children. “It was a beautiful moment I will never forget,” Lake told People, which will publish details and pictures of the wedding in its Friday edition. “I wasn’t anxious or nervous. I was really relaxed and excited.” -Reuters

The Simpsons Couch is on display at the Springfield Museum Tuesday, April 10, 2012, in Springfield, Oregon. (AP)

lawsuit states. It filed an application to register the trademark name in the United States in February 2011. The British band, made up of Niall Horan, Zayn Malik, Liam Payne, Louis Tomlinson and Harry Styles placed third on “The X Factor” and went on to top the UK charts with their first single. Their debut album “Up All Night” entered the Billboard charts at No.1 last month in the United States, and they were greeted by hordes of screaming young girls at appearances in New York and Los Angeles ahead of a US tour later this year. They are currently in Australia. One Direction already has some 4.2 million Facebook fans and 2.8 million followers on Twitter. The five man California band, by contrast, has a much lower profile. Led by singer and pianist Sean O’Leary, its members began making music at school and the group has played at local fairs and bars, according to their website. The lawsuit said the continued use by both bands of the same name was causing “substantial confusion and substantial damage” to the goodwill earned by the California group. -Reuters

Robin Gibbs fighting pneumonia, misses concert LONDON: Singer Robin Gibb is fighting pneumonia in hospital and was too ill to attend the London premiere of his first classical work, “The Titanic Requiem,” his son said on Tuesday, adding that future hospitalizations were likely. The 62-year-old founding member of disco-era hit machine the Bee Gees, said in February that he had made a “spectacular” recovery from cancer, but had intestinal surgery last month. He was hospitalized late last year for stomach and colon problems. Robin Gibb composed the symphonic “Titanic Requiem” with his son, Robin-John Gibb, and had been scheduled to perform a new song, “Don’t Cry Alone,” during the concert at Westminster Central Hall on Tuesday. Robin-John confirmed that his father was undergoing treatment in a London hospital. “Of course these are all the periphery problems that occur when you have an illness like that. It’s not always the cancer that will get you, and he has to always be treated and always keep good scrutiny on his health,” he told Reuters Television. “Sadly that’s the way it is, and tonight he would love to be here and we’re really at a loss because we really wanted him to see this and be able to see our baby come to fruition.” Robin Gibb’s brother and fellow Bee Gee Barry Gibb also was due to attend the concert but did not show. British newspapers have reported that he had flown to London to be at his brother’s hospital bedside. “I don’t think there’ll ever be a time in the future where he is not in and out of hospital because you have to keep constant scrutiny on these things. But if anyone can carry on it’s him - he’s a very strong individual,” Robin-John said. “The Titanic Requiem,” performed by the Royal Philharmonic Orchestra, is being released to mark the 100th anniversary of the sinking of the luxury liner on April 15, 1912. “Today he wanted to have the requiem fed into his room but now that we’re going live feed on the Internet, he can easily get a good peek at it,” Robin-John Gibb said. “A lot of this requiem was written in the hospital bedrooms with my father because, of course, he was diagnosed when we were in the middle of composing.” Media speculation about Gibb’s health was sparked in recent months by his gaunt and frail appearance. But the singer said in February that a growth in his colon had “almost gone” and he was feeling “fantastic.” -Reuters

Rock week rolls Shepherd off Dancing With the Stars

In this April 9, 2012 photo released by ABC, TV personality Sherri Shepherd and her partner Val Chmerkovskiy perform on the celebrity dance competition series “Dancing with the Stars,” in Los Angeles. (AP)

NEW YORK: Rock week got Sherri Shepherd bounced from the ballroom on Tuesday after her tango to “Come On Feel the Noize” failed to impress judges and fans of “Dancing With the Stars” enough to keep her feet on the floor. An emotional Shepherd, co-host of talk show “The View,” had tears streaming down her face after she became the third star eliminated from season 14 of the hit television competition. “Thank you for letting me live a dream that I’ve always had,” said Shepherd, 44, who was paired with professional dancer Valentin Chmerkovskiy. Between sobs, she also exhorted fans to face their fears, telling them “run towards it, because it’s so amazing on the other side.” The other bottom finisher this week was Disney Channel star Roshon Fegan, who received high marks from the judges and said he had “no expectation” of facing elimination. Early on Tom Bergeron promised the results would provide “the shock of the season,” although Shepherd’s score

of 21 from the judges was the secondlowest this week. Judge Len Goodman concurred with Bergeron, saying “All of us judges, we are in total shock” at the results. “The standard this season is so high, anyone can be in jeopardy, anyone can be safe,” he said. Gladys Knight, who placed last this week in the judges’ scoring after her tango to Queen’s “Bohemian Rhapsody,” and musician Gavin DeGraw, who has languished in the bottom two every week so far, were both declared safe early on. Melissa Gilbert, the ‘Little House on the Prairie” star who was injured during Monday night’s show and was briefly hospitalized after suffering a mild concussion, was the first dancer declared safe. She was expected to return next week. The top score from the judges’ ratings after Monday’s show was earned by NFL wide receiver Donald Driver. Nine stars remain in the competition. Viewer votes combined with judges’ ratings decide which star is eliminated each week. -Reuters

ALWATAN DAILY

AROUND TOWN / TIME OUT

THURSDAY, APRIL 12, 2012

If you have an event you wish to include, please email: aroundtown@alwatandaily.com

Feature o f

graffiti

the day

moderately confused

GUST welcomes Jazz performers Coco York & Mike Del Ferro

Sudoku

Elementary KUWAIT: The Gulf University for Science and Technology (GUST) Department of Humanities and Social Sciences in cooperation with the US Embassy and American Voices Abroad welcomed a performance by Jazz artists Coco York, Jazz Vocalist and Mike Del Ferro, Jazz Pianist in their auditorium for a lively presentation of pure jazz. York wowed the crowd with her soulful performance and witty humor. Everyone was entertained with Del Ferro’s experience on the piano and how his sound blended beautifully with York’s strong vocal talent. In attendance was Dr. Abdulrahman Al-Muhailan, Chairman of the Board of Trustees, who thoroughly

Month a t

Advanced

Intermediate

enjoyed the performance and enjoyed the students’ interaction and participation with York on her scat renditions, following the explanation of where scat came from - the late Ella Fitzgerald. She mentioned that it was said that Fitzgerald was the one who started scat singing as a young girl singing with her father’s band, when she would forget the lyrics of the songs. GUST was the first stop in the duo’s tour and the university hopes to welcome them back again in the future. The Humanities Department at GUST is always on the lookout for talent to share with its students and faculty to expose them to different sounds and cultures.

General A n n o u n c e m e n t s

a glance 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.

Dar Al Funoon hosts artist Karim Ghidinelli April 2- 19/ 4 p.m. - 8 p.m. / Dar Al Funoon: Born in Italy in 1976, Karim spent his childhood in this city; he went to middle school and high school in African countries. His body of work consists of a central iconic image that of a finger imprint, within each thumb impression he has formulated a pseudo-calligraphic narrative of life experiences on luminous and luxurious enamel weaves.

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

Classical music recital by young Kuwaiti musicians April 12/ 7:30 p.m. - 9:30 p.m. / Bayt Lothan: Bayt Lothan has a treat for you this Thursday. A musical recital by young aspiring Kuwaiti musicians! Come enjoy a night of classical music and help support these young talents and show that music matters! Everyone is welcome. Call: +96525755866 or +96525727388 for more details.

K’S PATH’s last Shelter Open Day April 14/ 10 a.m. - 2 p.m. / Wafra: This is a great opportunity for visitors to interact and socialize with our dogs and cats for adoption, get acquainted with K’S PATH’s work in animal welfare and habitat protection through a shelter tour, and meet K’S PATH’s growing team of volunteers and staff. We will also hold an educational session for children on Kuwait’s desert and marine species followed by a crafts session to build a model desert and marine habitat.

Arabic course March 11-April 19/ TIES Center: TIES Center is glad to announce the start of Arabic courses. We offer classes for all levels, from beginners to advance and also introduced new classes called Kuwait dialect. TIES Arabic classes are intended for all expatriates who wish to learn Arabic for whatever purposebusiness, basic communication, as a second language or simply as a hobby. For more information/registration, contact 97228860/97793440.

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

Mario is a gentle and affectionate 6-years-young Spitz male. This friendly boy does great with people and dogs of all ages.

Golden era club April 13/ 5 p.m. -7 p.m. /Rumaithiya: Join the Golden Era club for a fascinating Earth Day activity. Come armed with old newspapers, a pair of scissors and a bottle of glue. You also get to join Dr. Leos on a fascinating journey through a jewel nestled in central Europe, ranking high in human development. Seniors (60+) don’t miss out on the adventure! Venue- House #34, next to Abu-Tammam Intermediate School for Boys, Sate Alhusari St., Block 2, Rumaithiya. For details call 97172788/ 66208183 or drop a line to goldenera60@yahoo.com

Brainbang session October 7-April/ 11:45 a.m. -1:45 p.m. /Salmiya: BRAINBANG, the creative arm of Friends of CRY Club (FOCC) invites all students aged 11 and above, to join us fortnightly on Fridays. The areas of development are: Creativity in learning, tools and techniques to empower your mind, profile based learning, activity, fun, games and worksheet based assignments, practical experiments, mind gymnastics and application of learning techniques to conventional study. E-mail: brainbang@focckwt.org or call 25660835/25618471/97677820.

Dilbert

Open House for Indian Citizens Ambassador of India would be holding an Open House for Indian citizens to address their problems\grievances on Wednesdays of the second and the fourth weeks of every month between 1500 hrs and 1600 hrs in the Embassy. In case Wednesday is an Embassy holiday, the meeting will be held on the next working day. To ensure timely action/follow-up by the Embassy, it is requested that, wherever possible, Indian citizens should exhaust the existing channels of interaction/grievance redressal and bring their problems/issues in writing with supporting documents.

Royal Thai Embassy The Royal Thai Embassy in Kuwait wishes to invite Kuwaiti companies that deal business with Thai companies or those agencies of Thai commercial companies to visit the Embassy’s Commercial Office to register their relevant information to be part of the embassy’s business and trade database. The Royal Thai Embassy is located in Jabriya, Block 6, Street 8, Villa No. 1, Telephone No. 25317530 -25317531, Ext: 14.

Nancy

Horoscopes Aries: March 21 - April 19

Your outlook is apt to be optimistic, enthusiastic, and practical, Aries! You have both creative and workable ideas. They’re likely to lead to success, although it could take considerable time and effort to make it happen. Communication with colleagues is likely to be open, honest, and very dynamic as projects and enterprises take on a life of their own. Work hard, make it happen, and enjoy the journey! Taurus: April 20 - May 20

Tending to paperwork could take up much of your time today, Taurus. A lot could be riding on your careful planning and projections, so you’re probably taking it very seriously. Nonetheless, don’t be intimidated. Trust your instincts. You know what you’re doing. Be very thorough, check everything over carefully, then put your plan into action and wait for it to bear fruit! Gemini: May 21- June 21

Communication between you and either a business or romantic partner should get a fresh start today.You’ve gotten to know each other better and feel more comfortable being honest and open with each other than before. All signs are that any partnerships begun, renewed, or confirmed today are likely to be successful and profitable.

Cancer: June 22 - July 22

You’ve been juggling career, romance, and creative interests for the past year. This is apt to continue. However, you could find yourself building a new career involving writing or speaking, perhaps in addition to your current career. You’re also apt to develop a vigorous interest in improving your health. You could make a powerful effort to change your diet and exercise habits. Good luck with it all! Leo: July 23 - August 22

Ingenuity blossoms when you make the effort to do a little writing, Leo, perhaps technical manuals or other professionally oriented projects. This could represent a new stage in your professional life. You’re apt to do well and attract considerable attention from higher-ups. Don’t get too caught up in the need to revise, edit, then revise and edit again. Virgo: August 23 - September 22

Are you considering moving to a new residence, redecorating, or making some home improvements, Virgo? If so, this is a good time to do it. These types of projects promise to go well, so don’t let doubt get in your way. Explore every possibility, consider all the pros and cons, and then if it looks like it’s going to work, go for it!

Libra: September 23 - October 22

You might need to make a lot of phone calls and get through some lingering paperwork today, Libra. A business partner or friend could be instrumental in helping clear up some loose ends that have been left hanging. Be sure you get any leftover work out of the way, because soon you’ll probably be even busier. If you get bored, remember that success lies ahead. Good luck! Scorpio: October 23 - November 21

If you’ve been worrying about having spent too much recently, Scorpio, the astral configuration indicates you should be able to put those worries behind you. There are plenty of opportunities that could bring increased income, possibly a new job, even a new career. A lot of phone calls, emails, or other communications could bring news of these possibilities your way. Sagittarius: November 22 - December 21

Communication takes a prominent place in your life today, Sagittarius. Your practical, direct, and down-to-Earth manner can be very impressive. You’re known for succeeding where others have failed. This isn’t lost on those above you on the hierarchical ladder. And they know that you aren’t easily fooled.

Capricorn: December 22 - January 19

You could be surrounded by secrets, Capricorn. A number of colleagues might be leaving to pursue new opportunities, and you could wonder if there’s a reason for it that escapes you. It might even have you reevaluating whether or not you should stay put! However, don’t panic because others leave. If there are things about your job that bother you, by all means consider your options. Aquarius: January 20 - February 18

A phone call or email from a friend could open up new career possibilities for you, Aquarius, perhaps involving the communications industry. Tales of people who have hit it big in this field could be circulating widely, but you should carefully consider all the aspects of any new option before jumping in. You don’t want to have any regrets about your decision later. Think about it! Pisces: February 19 - March 20

Communication of all sorts could be vital to you today, Pisces. You might spend much of the day on the phone organizing an important event or perhaps clearing up a misunderstanding. This could make it a rather stressful day. It might be one of those days you just need to get through.

ALWATAN DAILY

SPORTS

thursDAY, april 12, 2012

Basketball

Surging Boston turn up the heat on Miami MIAMI: A week ago, the Boston Celtics beat the Miami Heat with defense. This time, they did it with offense. Paul Pierce scored 27 points, Kevin Garnett added 24 points and nine rebounds, and the Celtics made their first eight shots of the fourth quarter to hold off the Heat 115-107 on Tuesday night. Rajon Rondo posted double-digit assists for the 18th straight game, extending the NBA’s longest such streak in 20 years with an 18-point, 15-assist effort. Brandon Bass added 12 points and 10 rebounds, while Avery Bradley scored 11 for the Celtics, who shot a season-high 61 percent and survived two possessions where Miami could have tied the score in the final quarter. LeBron James finished with 36 points, seven rebounds and seven assists for Miami, which got 20 from Dwyane Wade and 18 from Mario Chalmers. Chris Bosh finished with 13 on 5-for-13 shooting for Miami, which has gone 5-5 in its last 10 games. The Celtics beat Miami 91-72 in Boston on April 1, a game the Heat called “unacceptable” after establishing season-lows in scoring and shooting. This one won’t sit much better with the reigning Eastern Conference champions, who ousted the Celtics in five games from last year’s playoffs and could see them in the second round of the upcoming postseason. No team had shot better than 55 percent against the Heat this season, and Boston’s 115 points were two shy of matching a season-high against Miami. Boston improved to 18-7 since the All-Star break, and dealt Miami a blow in the race for the No. 1 seed in the East. The Heat fell three games behind Chicago after the Bulls beat the New York Knicks later Tuesday night. A layup by Wade got Miami within 108-103 with 2:22 left, before Garnett made a higharcing jumper that dropped softly through the net, his 11th make in 14 shots. That pretty much

Hamilton leads Bulls over Knicks, 98-86

Paul Pierce (34) of the Boston Celtics looks on during a game against the Miami Heat at American Airlines Arena, April 10, 2012. (AFP)

described the night. Whenever Miami got close, the Celtics found a way to hold them off. Miami had two shots to tie early in the fourth after being down by as many as 18 earlier, before Garnett made jump shots on four straight possessions, the average length of those makes being 19 feet. A 10-0 run early in the first quarter gave Boston a quick lead - and that wasn’t even the Celtics’ best run of the opening period. Boston scored the last 11 of the first, the run actually becoming 13-0 when Garnett scored to open the second quarter, and Boston’s lead was 35-22. Miami got within five twice in the third,

with Rondo answering both times to make it a three-possession game again. The Celtics held the Heat to 36 percent shooting in the quarter, keeping the eight-point lead entering the fourth at 89-81. The Heat had two chances to tie early in the fourth, after starting the period on a 7-0 run. The first of those slipped away when Bosh failed to finish off a three-point play opportunity by missing from the line. The next came when Udonis Haslem missed from the left baseline with 9:17 left, and Boston’s answer that time was absolute. Allen made a catch-and-shoot 3 for a 9489 lead, and then Garnett just took over. -AP

CHICAGO: The Chicago Bulls thought they were finally getting their whole team back together for the final stretch. Instead, Derrick Rose was out again. The Bulls came out on top, anyway. Richard Hamilton scored 20 points, Luol Deng added 19 and Chicago beat the New York Knicks 98-86 Tuesday night even though they were playing without their superstar point guard again. Hamilton had 18 points in the third quarter to help Chicago stay ahead after building a 12-point halftime lead. Kyle Korver added 14 points and three blocks, and the Bulls prevailed despite Carmelo Anthony’s 29 points for New York. Anthony came up big again for the Knicks after scoring a season-high 43 and hitting the go-ahead 3 in overtime on Sunday, but New York got pounded on the boards 51-33. The Bulls outscored the Knicks 25-5 on second-chance points and cut down on the turnovers, finishing with 12 after committing 20 in the previous game. “We got outrebounded,” Anthony said. “They beat us on the boards. I got two rebounds. I’ve got to do better than that.” Then again, as Tyson Chandler said, Anthony was the “one bright spot” for New York. Chandler did have 15 rebounds, but otherwise, it was a mismatch on the glass. “That’s kind of their game,” he said. “They attack the basket. They get you out of position and then the big guys come and crash the boards. We didn’t do a good job of boxing out.” Deng had 10 rebounds and hit 3 of 6 3-pointers while trying to contain Anthony. Korver was 3 of 5 from long range and had 11 points in the fourth quarter. Hamilton played just 20 minutes because he’s missed most of the season because of injuries, but he was his usual active self, running off screens and wearing out the opposition. He certainly made the most of his time, particularly in the third. The Knicks got to 53-50 early in the quarter, but Hamilton answered with a 20footer and two free throws. Deng then made a 3 to make it a 10-point game, and the Bulls stayed in control after that. “Hamilton’s putting a lot of work in,” Thibodeau said. “He’s getting more comfortable. You can see his rhythm coming around.” -AP

Cricket

Formula one

Double Wisden honor for Sangakkara

Bahrain condemns ‘scaremongering’ over F1 race

FILE - Kumar Sangakkara of Sri Lanka plays a shot during the One Day International match between Australia and Sri Lanka at Bellerive Oval, Feb. 24, 2012. (AFP)

London: Sri Lanka’s Kumar Sangakkara has been chosen as both one of the Five Cricketers of the Year and the Leading Cricketer in the World for 2011 in the 2012 edition of Wisden Cricketers’ Almanack, it was announced Wednesday. The 34year-old Sangakkara, one of the outstanding batsmen of his generation and for much of his career a top-class wicketkeeper as well, became the first man to receive both awards since Wisden, ‘cricket’s bible’, started naming a leading cricketer of the year in 2004. In 2011, no-one else came close to the 2,267 runs Sangakkara scored in all international cricket, and he is now the only man to have topped 1,000 runs in Tests and one-day internationals in a single year on three separate occasions. The left-hander also captained Sri Lanka to the World Cup final, where they were beaten by co-hosts India in Mumbai. Off the field, he also received worldwide praise for giving a deeply heartfelt MCC Cowdrey Lecture at Lord’s which caused shockwaves in his homeland when he called for the end of political interference in Sri Lankan cricket. Sangakkara’s career Test record of

over 9,000 runs in 108 matches with 28 hundreds at an average of nearly 55 stands comparison with all but a handful of cricket’s greatest batsmen. Wisden, published every year since 1864, is widely regarded as cricket’s leading reference work. The Five Cricketers of the Year, chosen solely by the editor of Wisden – the 2012 edition is English cricket journalist’s Lawrence Booth’s first as editor – is an award that dates back to 1889. Among the other four recipients for their performances in 2011 were the England Test duo of runhungry opener Alastair Cook, who made 294 against India at Edgbaston, and pace bowling all-rounder Tim Bresnan, yet to be on the losing side in a Test match. Lancashire captain Glen Chapple was also honoured after leading the Old Trafford-based club to their first outright County Championship title in 77 years, as was fellow seamer Alan Richardson, who took 73 First Division wickets to help Worcestershire avoid relegation. No one can be chosen as one of the Cricketers of the Year, based primarily on a player’s influence upon the previous English season, more than once. -AFP

India’s Yuvraj in no hurry to return

NEW DELHI: Yuvraj Singh, the outstanding player in India’s World Cup triumph at home last year, is certain he will return to the international side after battling cancer but will wait until he has fully recovered both physically and mentally. The 30-year old was told last year that he had a golf ball-sized non-malignant tumour. The diagnosis was changed in February to a cancerous condition called “mediastinal seminoma”. After receiving treatment in the United States in mid-March, Yuvraj spent a few days in London recuperating from the side-effects of chemotherapy before returning to India on Monday. “I don’t know what I will come back and be able to do. Getting back on the field will be a big achievement for me,” Yuvraj told reporters at his academy near New Delhi on Wednesday. “My body needs to recuperate, and to deal with all that pressure and to play for India again will be a

very big achievement for me. As a sportsman you can only say, I’m going to work hard. One thing I always think about is that I want to put the cap with the India logo back on my head. I can’t say what I will do when I come back, but I am sure I will come back to cricket. Hopefully, in a couple of months I will be in the right mental and physical frame to get back on the field.” The hard-hitting middle-order batsman is not a regular member of India’s test team but is an automatic choice in their limited overs sides. Yuvraj, the player of the tournament in India’s 50-over World Cup triumph last year, was also a main contributor in their 2007 World Twenty20 triumph, during which he hit England fast bowler Stuart Broad for six sixes in an over in one match. Yuvraj is happy to have survived the fight, one he termed “the toughest” in his life and said his health and not cricket was his current priority. -AFP

ABU DHABI: Bahrain Grand Prix organizers summoned support for their troubled Formula One race on Tuesday and said a campaign for it to be cancelled was being driven by “armchair observers” and “extremist groups”. The Bahrain International Circuit produced witness statements from foreign observers, including two members of the Lotus team, and the British ambassador to the Gulf kingdom in defense of the April 22 race. It said a briefing by the Lotus representatives had been sent to all 12 team principals on April 5 and ahead of this weekend’s Chinese Grand Prix in Shanghai, where a final decision is expected. Bahrain, which has endured almost daily protests and unrest since an uprising against the government in February last year was bloodily suppressed, is due to follow on immediately after China. There have been increasingly vocal calls for it to be cancelled, however, with one unnamed team principal telling Britain’s Guardian newspaper that all the teams were hoping the governing FIA would call off the race. “Yes, there is a need to keep the circuit and the teams secure and they are doing this and they feel very comfortable about the arrangements,” the Lotus report said in excerpts reproduced in the Bahrain circuit statement. “If there is going to be protestation then it will be confined to peaceful protests, you will maybe see some banners being waved and maybe some tires on fire but that is all they expect. We came away from Bahrain feeling a lot more confident that everything is in hand,” it added. “If it wasn’t for a few more police you wouldn’t

A picture shows graffiti against holding the Formula One Grand Prix in Bahrain reading in the village of Barbar, west of Manama, on April 9, 2012. (AFP)

know any difference from last year we were there.” Last year’s race had to be cancelled due to the unrest after an initial postponement and the last race there was in 2010. The circuit statement also quoted John Yates, a former assistant commissioner in the London Metropolitan police who now advises Bahrain’s Interior Ministry, as saying policing would be low-key and discreet. The Formula One Teams Association (FOTA), which represents Lotus, Caterham, Force India, Marussia, McLaren, Mercedes and Williams, said it was not possible for the teams to cancel the race. “There’s been some media speculation recently to the effect that the teams may seek to cancel this year’s Bahrain

Williams appoints female development driver

LONDON: Williams said on Wednesday that they have appointed Susie Wolff as a development driver, making her the second woman to join a Formula One team in just over a month. The appointment was approved by the Williams’ board, of which Wolff’s husband, Toto, is a member. He sat out of the selection process, the team said. Team principal Frank Williams said the 29-year-old Scot, who races in the German touring car championship, was a “talented, successful and highly professional racing driver who competes in one of the world’s most fiercely-contested series”. He added: “Susie will join Williams as a development driver, in which capacity she will assist us with the development of our simulator and other technical challenges.” She would also participate in some aerodynamic and full-track testing of its FW34 F1 championship car as well as attending a number of races. Wolff’s new role follows an announcement in early March that Spaniard Maria De Villota, daughter of former F1 driver and British Formula One Series Champion Emilio de Villota, had joined Marussia as one of their test drivers. De Villota has raced in a variety of single-seater and sports car categories, including Spanish F3, the Daytona 24 Hours, the Euro series 3000 and Super league Formula Championship. She also has prior experience of a Formula One cockpit, having received a test drive courtesy of the team formerly known as Lotus Renault F1 Team at Paul Ricard in August of last year, where she achieved 300kms of running. Wolff said: “I hope to demonstrate women can play a role at the highest levels of motorsport. I shall be working closely with the team on its social responsibility program in the areas of education and road safety.” Two women have previously raced in Formula 1: Italians Maria Teresa de Filippis, who competed in three races in 1958, coming 10th in the Belgian Grand Prix, and Lella Lombardi, who drove in the mid-1970s. She came sixth in the 1975 Spanish Grand Prix. Britain’s Divina Galica in 1976 and 1978, South African Desire Wilson in 1980, and Giovanna Amati, of Italy, in 1992 have also driven in Formula One but failed to qualify. -AFP

Grand Prix,” FOTA said in a statement. “That wouldn’t be possible. Teams are unable to cancel grand prix. We race in an international series called the FIA Formula 1 World Championship, and it is therefore for the FIA to offer the teams guidance on these issues.” FOTA does not represent Ferrari, HRT, Red Bull, Sauber or Toro Rosso. The governing International Automobile Federation has said it is in daily contact with foreign embassies and authorities in Bahrain while F1’s commercial supremo Bernie Ecclestone is eager for the race to go ahead. Al Zayani said last month that the race contributes $220 million US dollars directly to the local economy and $400500 million indirectly. -Reuters

Tennis

Wozniacki advances to 2nd round in Copenhagen

COPENHAGEN, Denmark: Two-time defending champion Caroline Wozniacki overcame Urszula Radwanska of Poland 7-6 (4), 6-2 on Tuesday to reach the second round of the e-Boks Open. The 21-year old Dane was down a break in the first set before rallying to force the tiebreaker. She then broke three times in the second to clinch the victory in 2 hours, 5 minutes. The sixth-ranked Wozniacki will next play Pauline Parmentier of France, who ousted Anna Chakvetadze of Russia 7-5, 6-1 on the hard courts at the Farum Arena. Fourth-seeded Monica Niculescu of Romania also advanced, beating Valeria Savinykh of Russia 6-2, 6-2, while No. 5 Kaia Kanepi of Estonia ousted Anastasia Rodionova of Australia 6-3, 6-4. Second-seeded Angelique Kerber of Germany also advanced, beating Stephanie Foretz Gacon of France 4-6, 6-2, 7-5. Alize Cornet of France had the easiest win of the day, routing Danish wild card Malou Ejdesgaard 6-0, 6-0. Seventh-seeded Ksenia Pervak of Kazakhstan had to retire from her match against Australia’s Johanna Konta when she was trailing 6-3, 1-0. Sixth-seeded Mona Barthel of Germany ousted Sweden’s Johanna Larsson 6-3, 6-4, while No. 8 Sofia Arvidsson of Sweden lost 7-5, 5-7, 6-1 to Austria’s Patricia Mayr-Achleitner. In other first-round matches, Petra Martic of Croatia beat Germany’s Annika Beck 6-4, 6-4 and Anne Keothavong of Britain ousted Hungary’s Melinda Czink 4-6, 6-2, 6-3. -AP

thursday, april 12, 2012

Sports Editors Highlight

SPORTS

MADRID: Novak Djokovic and Rafael Nadal will play an exhibition match at Real Madrid’s football stadium, hoping for a crowd of 80,000 to watch tennis’ top two players. Madrid says on its website that the top-ranked Djokovic and local favorite Nadal will meet on July 14 at the Santiago Bernabeu, with proceeds going to the club’s and Nadal’s charity foundations. Tuesday’s statement did not say what surface the match will be played on. Nadal and Djokovic have won a combined 10 majors and have had one of sports’ top rivalries of late. Djokovic had defeated Nadal in the last seven finals they’ve played, including in the last three Grand Slam tournaments Wimbledon, US Open and Australian Open. -AP

Football

Barcelona pile pressure on Real with Getafe romp SPAIN: Defending champions Barcelona upped the pressure on leaders Real Madrid on Tuesday as they moved to within a point of their bitter rivals after a 4-0 thumping of Getafe. Two goals from Alexis Sanchez, one from Pedro Rodriguez and Lionel Messi’s 39th in the league this season gave Barca a 10th consecutive league victory after another near perfect performance by the Catalans. In the 22nd minute the home crowd chanted the name of Eric Abidal, the French international who on Tuesday underwent a liver transplant, in recognition of the number 22 shirt he wears as part of Barca’s squad. Real can restore their four point advantage if they beat Atletico Madrid on Wednesday - they have not lost to their city rivals since 1999. The clash between Barca and Madrid on April 21st in the Camp Nou has become increasingly important as the Catalans have reduced the gap on Madrid from 10 points to only one in less than a month. Barcelona dominated Getafe throughout, controlling possession with their usual passing game and goalkeeper Victor Valdes summed up the situation on the final whistle. “Our work is done here, lets wait and see what Madrid do tomorrow night in their game,” he said. However coach Pep Guardiola was cautious about talking about his team’s title chances. “All we can do is think about our games, we have a big game away to Levante at the weekend and then a Champions League semi-final, we have to focus on those games and nobody elses,” he said. Andres Iniesta had the game’s first chance when his shot was tipped over by Miguel Angel Moya in the Getafe goal on 12 minutes. A minute later and Barca were ahead. Iniesta started the move on the left for Messi to chest the ball into the path of the Chilean Sanchez who made no mistake from 20 yards out.

On 17 minutes the lead was almost doubled when Xavi Hernandez had appeared to finish perfectly a neat passing move only for Argentinean centre-half Cata Diaz to scoop the ball clear on the goal-line. Barca continued to dominate but did not add to their lead until just before half-time when Iniesta supplied Messi with a delightful back flick for the Argentinian to finish with a powerful shot. On 72 minutes Alexis doubled his tally heading home an inch perfect right-wing cross from youngster Isaac Cuenca. Two minutes later and it was another header from Pedro who rounded off the scoring when he was quickest to meet a rightwing free-kick from Messi. Barca turned on the style for the final minutes and Messi almost scored again from an impossible angle with two minutes remaining after a twisting run had taken him past 3 defenders. Earlier on Tuesday Raul Garcia scored two second-half goals to help Osasuna beat Espanyol 2-0 in a battle between two teams competing for places in next season’s Europa League. For Osasuna the result was the perfect recovery from last weekend’s 6-0 reversal at Rayo Vallecano, however they were helped by a card happy referee who booked players from start to finish. Espanyol ended the game with nine men when Philippe Courtois and Juan Forlin were sent off in the second half for two bookable offences each. Osasuna stay sixth on 46 points while Espanyol, who have not won in five matches, remain four points behind in ninth position. Real Betis and Real Sociedad shared a 1-1 draw to help both teams edge closer to survival. Carlos Vela put Sociedad ahead just after half-time before Ruben Castro equalised on 69 minutes for Betis. Earlier Imanol Agirretxe had a first-half penalty saved by Fabricio Agosto in the Betis goal. -AFP

Liverpool recall keeper, Dalglish dismisses crisis talk

Lionel Messi of FC Barcelona (left) duels for the ball with Ruben Perez of Getafe CF during the La Liga match between FC Barcelona and Getafe CF at Camp Nou, April 10, 2012. (AFP)

Nocerino rubbishes Allegri exit talk

MILAN: Midfielder Antonio Nocerino has poured scorn on rumors that AC Milan coach Massimiliano Allegri could leave the club if they don’t win the Serie A title. Allegri has found his position questioned all of a sudden following the team’s Champions League exit to Barcelona a week ago and a run of two league games without a win that saw them lose the scudetto leadership to Juventus. It may seem absurd for a coach who won the title in his first season in charge of the rossoneri to be under pressure in his second as they fight for the title but that is how the press works in Italy. But Allegri has many supporters in the dressing room. “These are things said by the press but sincerely we feel the club’s faith (in Allegri) as does the boss,” said Nocerino. “The only thing we need to do is concentrate on the pitch

which is the most important thing.” Milan had been giving chase to Juve all season but a month ago they hauled them in and overtook them, going top for the first time this term. Juve had been going through a tough spell with six draws in seven games, but four wins on the bounce since then turned the tables. Milan’s win at Chievo on Tuesday put the rossoneri back in front but Juve can reclaim that place with victory over Lazio later Wednesday. It promises to be a battle royale right to the end of the season and Nocerino vows that his side will fight all the way. “We won’t be letting up even for a second and we’ll be playing every game like it’s a final,” he told Sky. “We need to put Juventus under pressure and we can only do that by showing the same desire and performance that we did.” -AFP

Abidal ‘improving’ after liver transplant: Barca Liverpool team manager Kenny Dalglish gestures during their English Premier League soccer match against Newcastle United in Newcastle, northeast England April 1, 2012. (Reuters)

LONDON: Liverpool will recall youngster Peter Gulacsi from a loan spell at Hull City to help them cope with a goalkeeping shortage ahead of Saturday’s FA Cup semi-final against Everton. Liverpool manager Kenny Dalglish will have to field third-choice Brad Jones in the all-Merseyside clash at Wembley Stadium because both of his senior keepers are suspended. But he dismissed talk of a crisis following the 3-2 win at Blackburn Rovers on Tuesday. “We don’t have a problem going in with any players, no problem whatsoever,” he told reporters. Kulacsi, a 21-year-old Hungarian who joined Liverpool five years ago but has never made a first team appearance, has spent time on loan at Hereford United, Tranmere Rovers and Hull. “Goalkeeper Peter Gulacsi is set to be recalled from his loan spell with the Tigers by parent club Liverpool,” Hull said on their official Twitter feed on Wednesday. Liverpool’s first choice keeper Spaniard Pepe Reina is suspended after being sent off at Newcastle United in a Premier League game on April 1. Back-up Alexander Doni, who made his long-await-

ed debut against Aston Villa on Saturday, is banned after the Brazilian was shown a red card at Blackburn. Jones, who came on after 26 minutes following Doni’s departure, is a 30-year-old Australian international. However, until his appearance on Tuesday Jones had only played twice for Liverpool in the League Cup and Europa League since joining from Middlesbrough. The last of those two appearances was in December 2010. He had a mixed night against Rovers. Jones saved Ayegbeni Yakubu’s penalty with his first touch but was at fault for conceding another spot kick from which Yakubu equalised. His blushes were spared when Andy Carroll headed home in stoppage time to give Liverpool a 3-2 win. “It was a great first contribution (from Jones) in the Premier League to save a penalty, I am sure he will remember that,” said Dalglish. Jones said the penalty save was in memory of his son Luca, who died from leukaemia in November. His girlfriend gave birth to a son Nico Luca a week ago. -Reuters

SPAIN: Barcelona’s French defender Eric Abidal is “improving” in hospital, the club’s president Sandro Rosell said Wednesday, a day after the player underwent a liver transplant operation. “Both Abidal and his cousin are improving although I can’t give more information at the request of the family,” he told reporters. The 32-year-old player received part of his cousin Gerard’s liver at a Barcelona hospital in a lengthy procedure reportedly lasting nine hours on Tuesday. Barcelona’s deputy financial director Javier Faus said the length of the surgery was because the player was receiving a partial organ transplant from a living donor. “It is a long operation during which you have to first operate on the person who is donating the organ, then move on to the person who is receiving it,” he said. Barcelona announced on March 15

that Abidal needed a liver transplant “in the coming weeks”, nearly a year after he had a tumor removed from the same organ. Barcelona midfielder Sergio Busquets said at a post-training press conference on Wednesday that all Abidal’s colleagues wished him well. “I want to send him all my support and strength. I am sure he has received the signs of support that have been sent out in recent days from the squad, from fans and from people in general,” he added. The German city will host the final of the Champions League on May 17. Barcelona are in the semi-finals of the competition and face English Premier League side Chelsea next week. The club did not give any indication of how long he would be out of action but experts say recovery from a transplant may take up to six months and there was always the risk that the body could reject

the new organ. Abidal had been a candidate for France’s Euro 2012 squad for the tournament on June 8-July 1 but it is unlikely he will travel to Poland and Ukraine. Club officials have expressed hopes that he will eventually return to action but Spanish transplant experts have voiced doubts that he can play top-flight football again, given the risk of complications if he picked up a knock in his abdomen. Abidal recovered rapidly from surgery to remove a tumour from his liver in March 2011 and drew loud cheers by making a symbolic return in the final minutes of Barca’s Champions League semifinal second-leg tie with Real Madrid on May 3 last year. He has been a regular this season for the Catalan side, starting in 20 first division matches. But he has not played since picking up a hip injury playing for France in their friendly win over Germany at the start of March. -AFP

Zenit given small fine for racist chanting MOSCOW: Russian champions Zenit St Petersburg were fined a mere $3,400 on Wednesday for racist chanting by their fans during last week’s Premier League game at Lokomotiv Moscow. St Petersburg fans made monkey noises at Lokomotiv’s black players during Saturday’s match, which Zenit won 1-0 to virtually seal their second consecutive Russian league title. They lead CSKA Moscow by 11 points with six games remaining. Zenit’s fine was small compared to the $17,000 imposed on Spartak Moscow’s Nigeria international Emmanuel Emenike last month for an offensive gesture he made towards Dynamo Moscow fans who racially abused him during a match. Emenike also received a suspended sentence until the end of the season. Spartak have appealed the striker’s fine. The Zenit case was the latest in a series of racist incidents in Russian football.

In March, a banana was thrown atAnzhi Makhachkala’s Congolese defender Christopher Samba in a match at Lokomotiv Moscow. Another Anzhi player, Brazilian full back Roberto Carlos, had bananas thrown at him at stadiums in St Petersburg and Samara last year. In a separate incident, Zenit striker Alexander Kerzhakov escaped punishment following his collision with Spartak goalkeeper Andriy Dykan last month, which left the Ukraine international with broken bones in his face and a concussion. “After thoroughly examining the video, the disciplinary committee (KDK) had felt Kerzhakov should not face any sanctions because he didn’t have any intent to injure his opponent,” KDK head Vladimir Katkov told reporters. Dykan has had successful surgery in Germany, Spartak said on their website (www.spartak. com) on Wednesday. The keeper will miss the rest of the season. -Reuters

Barcelona’s external relations manager Manuel Estiarte (left) points a finger at the heart of Eric Abidal during a training session at Nou Camp stadium in Barcelona, April 2, 2012. (Reuters)