April 24, 2012

TUESDAY, APRIL 24, 2012

@alwatandaily

Issue No. 1414

20 PAGES

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150 Fils with IHT

MPs to vote on lifting immunity of Parliament stormers

Mohammed Al-Salman, Mohammed Al-Khaldi, Osama Al-Qatari and Ahmed Al-Shemmari Staff Writers

KUWAIT: During its scheduled session today, the Parliament is widely expected to lift the immunity of the nine MPs accused of being involved in storming Parliament. The concerned MPs include Musallam Al-Barrak, Faisal Al-Mislem, Waleed Al-Tabtabaie, Mubarak Al-Waalan, Salem Al-Namlan, Falah Al-Sawagh, Mohammad Al-Khalifa, Jamaan Al-Harbash and Khaled Al-Tahous.

Informed sources are expecting an escalation during the session between the majority and minority MPs. He explained that certain MPs are likely to reject a debate on the issue, as they will insist that a vote is sufficient.

On the other hand, a section of lawmakers will be adamant on the debate.

The MPs who are facing immunity-lifting have asked

Musallam Al-Barrak, Jamaan Al-Harbash and Faisal AlMislem to take on anyone who might chastise them during the deliberations.An official source affirmed that the government will vote in favor of lifting the immunity of said MPs for due process.

In another development, the chairman of the parliamentary committee tasked with probing alleged illicit financial transfers abroad, MP Dr. Faisal Al-Mislem, announced that the committee had decided to invite His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah and his predecessor His Highness Sheikh Nasser Al-Mohammad Al-Sabah to attend the committee’s meeting. He however noted that the committee did not decide when they will be invited.

Al-Mislem explained that the committee will hold a meeting next Saturday which will be attended by the Head of the Audit Bureau Abdul-Aziz Al-Adsani, the Ministry of Finance Mustafa Al-Shamali and the Secretary General of the Council of Ministers. “After that

KISR to explore underground water with NASA

Mervat Abduldayem Staff Writer

KUWAIT: The Director of the Water Resources in Kuwait Institute for Scientific Research (KISR) Dr. Mohammad Al-Rashid announced that the institute had a joint proposal with National Aeronautics and Space Administration (NASA) and Underground Water Reservoir Discovery Institute to explore all underground water in the country as well as the Arabian Peninsula.

He noted that once amendments are made, they will be sent to KISR to be supported and then to execute the plan which is expected to begin this current year. In a statement to Al Watan, Dr. AlRashid said that coordination between the three to finance the project, which its budget reaches

Sudanese President Omar Al-Bashir (2nd left) addresses celebrating troops during a visit to Sudan’s main petroleum center of Heglig on April 23, 2012. (AFP)

BENTIU, South Sudan: Sudanese warplanes bombed a major town Monday in South Sudan, hitting a market and killing a boy while wounding at least 10 people. South Sudanese troops fired back as the threat of full-scale war between the two nations loomed.

The bombs fell with a whistling sound from two MiG 29 jets and exploded, reducing several stalls where food and other household items are sold to twisted metal and setting some ablaze. The burned body of the boy lay flat on his back near the center of the blast site, a hand clutching at the sky. A hospital official in Bentiu said 10 people were wounded. Trucks packed with South Sudanese soldiers sped off in the direction where the bombs landed and the soldiers started shooting at the Sudanese jets.

“The bombing amounts to a declaration of war,” said Maj. Gen. Mac Paul, the Deputy Director of Military Intelligence for South Sudan.

Sudanese armed forces launched an attack Sunday more than six miles (nine kilometers) inside South Sudan’s border. Last week the south announced it was pulling its troops from the disputed oil town of Heglig to avoid an all-out war between the two neighbors, but tensions remained high. South Sudan had invaded Heglig earlier this month, saying it belonged to the south. More on 4

US embassy cautions over possible attacks in Kenya

NAIROBI: The US embassy in Kenya warned Monday of a possible attack which is “in the last stages of planning” on Nairobi hotels and key government buildings and urged American citizens to be cautious.

“Timing of the attack is not known, however, the embassy has reason to believe that the potential attack is in the last stages of planning,” the embassy said in a statement.

Kenya has been hit by several grenade attacks targeting bus stations and bars since it sent troops into southern Somalia in October to battle the Al-Qaeda-affiliated Al-Shabaab insurgents it blames for cross-border attacks.

In the latest attack on April 1, at least one person was killed and 18 others wounded when explosives went off in the coastal city of Mombasa and a nearby town. Kenyan police welcomed the warning. “The statement cannot be taken for granted. It is something that we are taking with a lot of seriousness. We have to use all the possible means to avert any attack,” deputy police spokesman Charles Owino told AFP. The extremist Al-Shabaab rebels warned Nairobi of reprisal attacks, prompting security officials to ramp up surveillance, while guards at several buildings, including shopping malls, are now screening visitors. -AFP

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Kuwait’s budget surplus stands at KD 16 billion

nearly 15 million US dollars, includes exploring underground water in Kuwait and part of the Kingdom of Saudi Arabia and the United Arab Emirates (UAE) “the Empty Quarters.” He noted that KISR had already begun the initial stage in north Kuwait and that with the current project it will cover all of Kuwait.

He explained that the aim of the project is to explore underground water in the Arabian Peninsula at various deep levels in addition to exploring its types, so that the management of water resources would be improved in the area to benefit from as much as possible.

He pointed out that the underground water is in the Gulf Cooperation Council (GCC) countries, noting that this is the first time the radar More on 2 technology would be used.

Sudan jets bomb market in South Sudan

meeting, an appointment will be set for summoning Sheikh Jaber Al-Mubarak and Sheikh Nasser Al-Mohammad,” the MP was quoted as saying.

In another development, the Majority Bloc has unanimously agreed to back the interpellation of AlShamali during a meeting held at Shaya Al-Shaya’s diwaniya on Sunday. Nevertheless, the bloc deferred the endorsement of the issues contained in the motion for a week, with the members due to meet on Saturday at MP Mubarak Al-Waalan’s diwaniya.

Informed sources cited that the meeting witnessed a lengthy disagreement regarding the worthiness of AlShamali’s interpellation in terms of the timing and the issues contained therein.

The sources reported that the week-long deferral is intended to convey a message to His Highness the Prime Minister to fire the finance minister or else the interpellation will be filed with assured results.

Compiled by Al Watan Daily

KUWAIT: Kuwait’s public finances data for February, the 11th month of fiscal year (FY) 2011-2012, show a year-on-year (y-o-y) decline in government spending, according to a specialized report prepared by the National Bank of Kuwait (NBK). According to the economic brief, this is largely due to last year’s one-time Amiri grant, which was disbursed in February 2011. Government revenues, however, continue to grow strongly due to high oil prices. This will likely result in a record budget surplus for the year, which would be the country’s 13th surplus in a row, stated the report.

According to the brief, total government spending reached 10.8 billion Kuwaiti dinars in the first 11 months, a small one percent decline compared to the same period More on 9 of the previous year.

Egypt turns down licenses for US NGOs

CAIRO: Egypt has turned down a request from eight US-based civil society groups for licenses to operate in the country after a crackdown on their activities sparked the first diplomatic spat with Washington since the ousting of Hosni Mubarak. The case led to threats from Washington to withdraw $1.3 billion of military aid until an Egyptian judge lifted a travel ban on several American democracy activists last month, allowing them to leave the country and avoid possible imprisonment.

Requests for licenses were rejected for the Carter Center for Human Rights, set up by former US President Jimmy Carter, Christian group The Coptic Orphans, Seeds of Peace and others, Egyptian state news agency MENA reported on Monday. MENA said the Insurance and Social Affairs Ministry rejected the applications because their activities violated state sovereignty.

It was not immediately clear if any of the groups were targeted in the previous crackdown.

“I don’t understand how a charity group like the Coptic Orphans, which works with over 35 churches in Egypt to provide medical and social aid, was rejected,” said the group’s lawyer Negad Al-Borai. Sanne van den Bergh, field office director of the Carter Center in Egypt, said the group had not been formally notified of the latest decision to deny it a license “but we are aware of the media reports about it and we are looking into them”.

It was not clear what work any of the groups had been planning to do if their licenses had been granted, but some of the democracy activists targeted in the previous dispute had monitored Egypt’s parliamentary election. -Reuters

France’s Hollande, Sarkozy in hunt for far-right votes

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Arctic Ocean could be source of greenhouse gas: Study

PARIS: The Arctic Ocean could be a significant contributor of methane, a powerful greenhouse gas, scientists reported on Sunday. Researchers carried out five flights in 2009 and 2010 to measure atmospheric methane in latitudes as high as 82 degrees north.

They found concentrations of the gas close to the ocean surface, especially in areas where sea ice had cracked or broken up. The study, published in the journal Nature Geoscience, wonders if this is a disturbing new mechanism that could accelerate global warming.

“We suggest that the surface waters of the Arctic Ocean represent a potentially important source of methane, which could prove sensitive to changes in seaice cover,” it says. If so, the Arctic Ocean would add to several identified “positive feedbacks” in Earth’s climate system which ramp up the greenhouse effect.

One such vicious circle is the release of methane from Siberian and North American permafrost.

The thawing soil releases methane that has been locked up for millions of years,

which adds to global warming -- which in turns frees more methane, and so on.

But this is the first evidence that points to a methane contribution from the ocean, not the land, in Arctic latitudes.

Levels of methane in the atmosphere are relatively low, but the gas is 20 times more effective that carbon dioxide (CO2) at trapping solar heat. Scientists have been struggling to understand the movements of the methane curve. There was a rapid increase in levels due to post-World War II industrialization, followed by a period of relative stability in the 1990s and more recently, by another rise.

The new paper, led by Eric Kort at the California Institute of Technology Caltech), says measurements of methane over some parts of the ocean were comparable to coastal eastern Siberia where there has been permafrost thaw. Noting that around 10 million square kilometers (3.86 million square miles) of the Arctic Ocean are subject to summer melting of sea ice, “the emissions rate we encountered could present a source of global More on 15 consequence,” it says.

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah (right) welcoming the President of the Republic of Tunisia, Mohamed Moncef Marzouki (left), as he arrives in Kuwait on a diplomatic visit, April 23, 2012. (KUNA)

Amir sponsors PAAET graduation ceremony

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Turkey says Israel not welcome at NATO summit

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Dutch government quits after austerity talks fail

THE HAGUE: The Dutch government, one of the most vocal critics of European countries failing to rein in their budgets, quit Monday after failing to agree on a plan to bring its own deficit in line with EU rules.

Prime Minister Mark Rutte tendered the resignation of his entire Cabinet to Queen Beatrix, effective immediately, after Rutte informed her talks on a new austerity package collapsed over the weekend.

Rutte is to debate with parliament Tuesday on whether and how his caretaker government can still improve the budget, and when to schedule new elections.

No date was immediately announced, but opposition lawmakers called for a vote in late June. Opposition Labor Party leader Diederik Samsom accused Rutte of “dropping the ball at the worst possible moment” for the Dutch economy and demanded elections as soon as possible.

The Dutch government collapse came a day after the first round election victory of France’s socialist candidate Fran-

cois Hollande, who has said he wants to focus less on austerity and more on economic growth.

The two developments call into question whether budget-cutting policies that are causing trauma in countries such as Greece, Spain and Portugal can be enforced even in “core” European countries such as France - or in the Netherlands, one of the few along with Germany to maintain an AAA credit rating.

Rutte’s hopes to clinch a deal to lower the deficit to within the EU’s 3 percent target evaporated Saturday when his most important political ally, populist euroskeptic Geert Wilders, cut off talks, saying a slavish adherence to European rules was foolish and would harm the Dutch economy.

It doesn’t make sense “to suffer for the sake of the dictators in Brussels,” Wilders said. Many agree the target is too aggressive, including the government’s own economic think tank the Central Plan Bureau. Others, such as Dutch Central Bank President Klaas Knot, say meeting it is vital to keep the country’s financial reputation intact. -AP

Firefighters work to contain a burning fuel tanker in Kabul April 23, 2012.

The cause of the blaze is unknown and police are investigating. (Reuters)

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ALWATAN DAILY

kuwait

tuesDAY, april 24, 2012

KISR to explore underground water with NASA Mervat Abduldayem Staff Writer

KUWAIT: The Director of the Water Resources in Kuwait Institute for Scientific Research (KISR) Dr. Mohammad Al-Rashid announced that the institute had a joint proposal with National Aeronautics and Space Administration (NASA) and Underground Water Reservoir Discovery Institute to explore all underground water in the country as well as the Arabian Peninsula. He noted that once amendments are made, they will be sent to KISR to be supported and then to execute the plan which is expected to begin this current year.

In a statement to Al Watan, Dr. Al-Rashid said that coordination between the three to finance the project, which its budget reaches nearly 15 million US dollars, includes exploring underground water in Kuwait and part of the

Kingdom of Saudi Arabia and the United Arab Emirates (UAE) “the Empty Quarters.” He noted that KISR had already begun the initial stage in north Kuwait and that with the current project it will cover all of Kuwait.

He explained that the aim of the project is to explore underground water in the Arabian Peninsula at various deep levels in addition to exploring its types, so that the management of water resources would be improved in the area to benefit from as much as possible. He pointed out that the underground water is in the Gulf Cooperation Council (GCC) countries, noting that this is the first time the radar technology would be used.

Regarding the radar technology being used, in cooperation with NASA, KISR conducted an aerial survey of the aquifers over some parts of northern Kuwait using the low-frequency radar that was used to discover water on Mars. Dr. Essam Heggy, a planetary scientist at NASA’s Jet

Propulsion Laboratory (JPL), said that this experiment is the first step towards utilizing low-frequency radars to survey aquifers at the regional level. This opens an important new chapter in aquifer management in arid regions, and will help throw light on how aquifers develop.

Moreover, Dr. Al-Rashid further announced that the coordination is being made between the three countries, noting that there is great support from the political leadership in Kuwait for the project and in the participating GCC. He noted that the difficulty in the work in the Empty Quarter is due to the tough terrain and the type of sand, but the presence of oil and finding mechanisms for transportation in the area will make it easy and simple to work on exploring the water which is as important as oil and even more.

He said it is beneficiary for Kuwait’s Future to manage water, noting that the water resources in Kuwait is under-

ground water, desalination water and sewage water which are the main sources of water in Kuwait.

Therefore, if the amount of the underground water and its type is known, then Kuwait can manage all other water resources. He noted that the underground water is limited and is mostly brackish water, and salty but there are places which have salt-free water so the project is to ensure this is the case especially that it is not possible to cover all Kuwait by digging wells.

He pointed out that the use of the new technology will save lots of money in digging wells which is also environmentally friendly. He noted that the first stage in north of Kuwait is the first of its kind where the airborne radar technology is used to map the underground water and it is expected that the scientific research will map out accurate maps for underground water in the deepest level of the desert in a better way.

MPs to vote on lifting immunity of Parliament stormers CONTINUED FROM PAGE 1

Also, it has been gathered that MP Obeid Al-Wasmi’s plan to question the minister has caused friction among certain members of the majority. Sources have revealed that Al-Wasmi demanded that issues such as loans and state property be added to the motion but certain members asked him to be patient.

The same sources informed that members of the Islamic Constitutional Movement (ICM) asked the would-be interpellators to exercise patience in filing the interpellation but the Majority Bloc argued that it is overdue, hence it should be filed.

The ICM and the Salaf Alliance are said to have affirmed that the motion should be presented to the Coordinative Committee to be followed by meeting with Al-Shamali to explore the prospect of fixing some of the issues highlighted in the motion.

The presence of the Minister of Housing and the State Minister for National Assembly Affairs Shuaib AlMuwaizri at said meeting has stirred controversy due

to his capacity as a minister.

MP Shaya Al-Shaya who hosted the meeting dismissed the reported unease with Al-Muwaizri’s attendance, saying that the latter was welcome because he joined the meeting upon being invited. “He was present not in his capacity as a minister but as a Kuwaiti citizen and a Member of Parliament,” Al-Shaya explained.

However, sources have disclosed that the minister told the MPs that the country had enough tension and stressed that problems can be sorted out through dialogue with the prime minister and the concerned ministers.

On the other hand, the minority MPs have held a meeting during which they discussed the meeting held by the majority, particularly in relation to the interpellation of the finance minister. The participants were unanimous that the motion should be discussed after it is filed officially. Commenting on reports that the Majority Bloc has backed the motion, MP Abdulhameed Dashti said the pronouncement might be part of maneuvers.

Cabinet backs new law to privatize airline KUWAIT: The Cabinet approved an amended draft law on Sunday paving the way for the privatization of Kuwait Airways within three years, reported Kuwait News Agency (KUNA) reported, after restructuring at the troubled carrier delayed the original plan.

The Parliament first approved a plan to privatize the loss-making Kuwait Airways Corp. (KAC) in 2008, but the process has been repeatedly held up. The committee responsible for the privatization last delayed the plan in October, saying the company would concentrate on restructuring first.

Under the new draft law, which still needs to be approved by the National Assembly, the government still plans to offer a 35 percent stake in the airline to companies on the country’s stock exchange and to “specialized” local or international firms, KUNA said.

This auction should happen within the next three years, it quoted Communications Minister Salem AlOthaina as saying.

The stake would go to the highest bidder and the shares would not be allowed to be traded for three years, it said.

The carrier will change its name to Kuwait Airways Company and be a shareholding firm “which would

consequently own all assets and properties of KAC,” KUNA added.

The government will retain a 20 percent stake, as previously planned, while 5 percent will be distributed to KAC employees “equally and for free,” the agency said.

A further 40 percent will be allotted in the same way to citizens registered with the Public Authority for Civil Information, the Kuwaiti body that issues civil identity cards.

They would not be allowed to trade the shares for one year.

The original plan had proposed selling a 40 percent stake to the public. It had also envisioned a price of around $282 million for the 35 percent stake offered to a long-term investor, seen by some analysts as too high.

The KUNA story did not give any price estimates.

KAC employees that did not want to work for the new company or be reassigned to the government would be offered a three-year salary pay-off, KUNA said. Citigroup Inc., auditors Ernst & Young, and aviation consulting firm Seabury have been handling the process according to previous government statements on the plan. -Reuters

Ahmadi Governor inaugurates 10th Kuwait Gold Jewelry Exhibition KUWAIT: Al-Ahmadi Governor Sheikh Ibrahim Duaji Al-Ibrahim Al-Sabah inaugurated on Monday the 10th Kuwait Gold Jewelry Exhibition at the International Fair Ground.

In press statements following the inauguration ceremony, Sheikh Ibrahim hailed the great development in this year’s exhibition, citing the efforts exerted by the organizers.

He also welcomed all participating companies and sponsors to this important event which runs through April 28.

For his part, Board Chairman of Kuwait International Fair Company Ahmad Tifoni, the event organizer, lauded Sheikh Ibrahim’s patronage to the exhibition and all government bodies’ help to render it a success.

He added that the famous Jewelry companies from Italy, Hong Kong, India, Thailand, are taking

Al-Ahmadi Governor Sheikh Ibrahim Duaji Al-Ibrahim AlSabah inaugurating the 10th Kuwait Gold Jewelry Exhibition at the International Fair Ground on Monday, April 23, 2012.

(KUNA)

part in the exhibition.

Over 75 local and international fashion houses, department stores, boutiques galleries, wholesalers and retailers part in the exhibition.

This exhibition is the biggest in Kuwait and the whole region due to the number for the participants and the diversity of the displayed products.

The 10th Gold Jewelry Exhibition 2011 is one of the most fascinating events dedicated to jewelry sector in Kuwait. It is the organized on annual basis.

Profile of exhibits includes fashion jewelry; fashion jewelry materials; and fashion accessories like watches, belts and buckles, scarves, shawls, handbags, beauty items and accessories, other ornaments and accessories.

The event is welcomed to all age groups especially for jewelry lovers. -KUNA

The Editor-In-Chief of Al Watan Shiekh Khalifa Al-Ali Al-Sabah and deputy Waleed Al-Jassim received at the newspaper’s headquarters on Monday, April 23, 2012 the US Ambassador to Kuwait Matthew H. Tuller and the Public Affairs and Communications Consultant Tracy Roberts-Pounds. During the visit, friendly talk was exchanged on the role of the Kuwaiti media given the freedom of press enjoyed in the country. (Al Watan)

Al-Harbi: Students injured in Jahra fire recovering, left hospital Abdul Aziz Al-Fadli Staff Writer

KUWAIT: Head of the Jahra Educational Zone Abdullah Al-Harbi announced in a statement on Monday that an investigations committee was formed to probe the fire that broke out at Jahra Secondary School for Girls.

He added that the Legal Affairs De-

partment in the zone is currently investigating the incident in order to determine the reasons behind the fire. He asserted that all injured students have recovered and exited the hospital.

He also revealed that the committee is waiting for the report of the Fire Department.

He went on to explain that the school has undergone renovation and

maintenance, and remarked that all students and teachers still attend school normally.

He revealed that he will send a circular to all schools regarding safety precautions, such as clearing all corridors and having fire extinguishers. He said that some schools overlook such factors, although they are of paramount importance.

German Embassy issued 20,000 visas in 2011 German Envoy affirms cooperation with Kuwait in the aspects of economic and political developments Ricky Laxa Staff Writer

KUWAIT: Ambassador of the Federal Republic of Germany in Kuwait Frank Mann, delivered a brief remark during the opening night of ‘Tourism Germany’ travel road show on Sunday evening at the Missoni Hotel. In his speech, the German Envoy extended his gratitude and lauded the team of travel consultants from Germany for their efforts to bring to Kuwait and the region information and opportunity to meet on one on one basis the travel specialists and local agencies in addition to the would be travelers this summer.

In a brief interview with the Ambassador Mann, he told Al Watan Daily that in the aspect of diplomatic relations, both countries enjoy good relationship that is evident in the consecutive visits that took place within a year since the German President last visited Kuwait.

These visits included the invitation by His Highness the Amir of Kuwait during the celebration of Kuwait’s National and Independence Days as well as His Highness the Amir’s fifth year anniversary as ruler of Kuwait. In that same year the German President was invited to visit Kuwait again on the invitation of His Highness the Amir as token of appreciation during his visit to Germany.

Ambassador Mann also highlighted that during the visit of the German President, he brought with him representatives of different companies looking into the possibilities of business

German Envoy to Kuwait Frank Mann delivers brief remarks during the Tourism Germany road show held at Missoni Hotel Sunday evening. (Al Watan Daily)

ventures. “There is much room to improve between both countries ties in the aspects of economic development and exchange of information. Germany has the capacity and facilities to offer to Kuwait on concerns about recycling and waste management. This sector of Germany’s industry is yet to be taken advantage,” commented the German Envoy.

On the issues of visa acquisition to travel to Germany, Third Secretary Olaf Ladegast said that about 20,000 visas have been issued by the consular section of the German Embassy in 2011.

Ninety percent of the visas issued were intended for visits and tours and other reasons included business, medical treatments, education and family matters.

Ladegast added that all nationalities regardless may have the possibility to acquire visas so long as they comply and fulfill the requirements of the embassy. “They need to prove the purpose of their travels; sufficient and adequate financial back-up since travelling to Germany may be costly and impor-

tantly cash declarations as imposed to all travelers prior to entering EU countries,” commented Ladegast.

In a press release issued by the German Embassy’s Consular Section noted that; For Kuwaiti nationals necessary documents needs to be filled-in with photograph specifications, passport valid for the next six months, medical travel insurance, confirmed hotel reservations and details of destinations since German security offices check random bookings thus, clear and accurate names must be provided for, valid residency and confirmed airline tickets. For expat travelers, all the above requirements apply with inclusion of proof of financial means; bank statements, certificate of employment indicating details of employment and additional documents should required by the consular section.

In the recent acquisition of numbers of travelers to Germany from the Arab region, reported 1.6 million have spent overnights in the country with 25% from Kuwait. There are at least 500 German nationals in Kuwait.

ALWATAN DAILY

KUWAIT

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Amir sponsors PAAET graduation ceremony

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and other significant officials, including His Highness the Crown Prince, are seen at the graduation ceremony of the Public Authority for Applied Education and Training (PAAET) faculties and institutes for the scholastic year 2010-2011 on Monday, April 23, 2012. (KUNA)

KUWAIT: His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah sponsored and attended a ceremony, Monday, honoring top graduates of the Public Authority for Applied Education and Training (PAAET) faculties and institutes for the scholastic year 20102011.

Upon his arrival at the venue, Basic Education Faculty theatre in Shamiyya, His Highness was greeted by Minister of Education and Minister of Higher Education Dr. Nayef Falah Al-Hajraf, who is also Chairman of the Board at PAAET. Also welcoming His Highness were PAAET Director General Dr. Abdulrazzaq AlNifisi, and PAAET staff.

Attending the ceremony were His Highness the Crown Prince Sheikh Nawaf Al-Ahmad AlJaber Al-Sabah, National Assembly Speaker Ahmad Al-Saadoun, former NA speaker Jassem Al-Kharafi, senior Sheikhs, Deputy Chief of the National Guard Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah, His Highness Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah, His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, a host of senior state officials, and families of the graduates.

After the customary kickoff with a recitation of the Holy Quran, Minister Al-Hajraf addressed the gathering, affirming that policy of His Highness the Amir of placing sciences, educational and human resources’ devel-

opment among top priorities of the State proved to be fruitful and prompted students to

Tunisian president arrives in Kuwait on scheduled visit

President of Tunisia Al-Moncef Al-Marzouki and His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah are seen saluting the flag upon the arrival of the Tunisian president to Kuwait on Monday, April 23, 2012. (KUNA)

KUWAIT: President of Tunisia Al-Moncef Al-Marzouki arrived in Kuwait on Monday starting a two-day official visit during which he would hold talks with His Highness the Amir Sheikh Sabah AlAhmad Al-Jaber Al-Sabah.

The president, accompanied by a delegation of senior officials, was received at the airport by His Highness theAmir, His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, Speaker of the National Assembly Ahmad Al-Saadoun, Deputy Chief of the National Guard Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah, His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, First Deputy Prime Minister and Interior Minister Sheikh Ahmad Al-Homoud Al-Jaber Al-Sabah, senior State officials, commanders of Kuwait Army, Kuwait Police and the National Guard.

An honorary mission for accompanying the eminent guests was formed; under chairmanship of Advisor at the Amiri Diwan Dr. Adel Al-Tabtabaei. Al-Marzouki is accompanied by Minister of Commerce Bechir Al-Zaafouri, Premier Advisor Lutfi Zeitoun, Minister of State for Foreign Affairs Abdullah Al-Tureiki and other ranking officials of the Tunisian Government. -KUNA

Formula One success is victory to political will in Bahrain: Ambassador MANAMA: Success of Formula One Grand Prix in Bahrain is a victory to the political will in overcoming the previous period and chance to regain the country’s leading position, ambassador of Kuwait to Bahrain Sheikh Azzam Mubarak Al-Sabah said referring to public riots and violence.

The diplomat told Kuwait News Agency (KUNA) that Kuwait congratulates Bahraini political leadership for the success of this event, which received international praise from racers and audience coming from various parts of the world. This success serves the national unit, and enhances unity between society members, he said describing the sports event as a “race for love of Bahrain.” -KUNA

achieve progress.

He urged the graduates, of excellent re-

cords, to pledge to His Almighty and His Highness the Amir to pursue perseverance in pros-

pected places of employment for achieving further progress for the homeland.

A speech by PAAET Director General AlNifisi followed, shedding light on latest works and achievements of the authority, such as electronic registration for students, establishment of the vocational training institute for girls in Al-Jahraa, the nursing institute in AlShuwaikh, expansion of the faculty of technological studies, the health sciences college, and the higher energy institute, the sports stadium and other sports facilities at the headquarters in Al-Shuwaikh.

Al-Nifisi affirmed PAAET’s support for a planned project, establishment of Jaber University for Applied Sciences, noting that such an academic establishment would help in expanding educational opportunities for students.

Moreover, he expressed hope that relevant authorities would quickly issue new laws for the authority and relieve the establishment of thorny and time-consuming bureaucracy.

On behalf of the graduates, Saja Abdelriheem Awadh addressed the gathering, hailing His Highness the Amir personal concern for sciences and students, vowing that she and her fellow students would work faithfully for service of the homeland.

Hs Highness the Amir was presented with a token gift to commemorate this ceremony, after he presented the certificates to the top graduates. -KUNA

Islamic movements seek power, historically made by UK and America: Experts Jameel W. Karaki Staff Writer

KUWAIT: The Islamic movements in the Middle East in general and in Kuwait, in particular, understood the needs of the people, or at least what they want to hear.

The Arab Spring brought a great opportunity for Islamic movements to rise all over the Middle East and create majority seats in Parliament, or other forms of governments. The common ground among Islamic movements in the Region is seeking Islamic Shari’a as a source of legislations, while rejecting any foreign intervention in the internal affairs of the nation and considering Israel as a shared enemy. Highlighting the issue was Najat AlHashash, a political activist who believes that the Salafi movement is calling for reforms, unlike the Muslim Brotherhood who are struggling for power.

“If we take a look at the behavior of the Salafi movement in Kuwait, we will notice that it’s a reforming movement which aims to develop the Kuwaiti Society, while the (Muslim) Brotherhood’s behavior has a desire for power”. Dahem Al-Ghatnai, a political analyst said the Muslim Brotherhood and the Salafis are movements which believe mostly in democracy and elections, adding that they call on relying on Islamic Shaira as the sole source for legislation.

According to Al-Ghatani, Islamic movements in Kuwait in are in general not extremists; however, he noted that extremism appeared once in an incident that occurred with the Peninsula Lions, an organization that staged several attacks in 2005 in Kuwait. Al-Ghatani added that a sub-division of these movements surfaced, known as “independent Islamists”, where this category

focuses on general public concerns or Islamic Sharia through the Constitution, unlike the case in Algeria and Yemen. Concerning the trust the Egyptian people instilled in the Islamic movements, he said: “The Egyptians chose Islamic movements based on trust and it’s not accurate to say that Egyptian don’t want them in power”, noting that moderation attracts people to these movements.

He added, “Saddam Hussein fall, which was followed by the rise of Shiite political parties in Iraq as well as in Iran raised some concerns among some people. Some of those who followed the extremists didn’t succeed later in the elections because the Kuwaiti society is a moderate one”.

He concluded,” Liberals accuse Islamists of being extremists and as an observer I don’t see this. There are extremists among Christians parties in Europe.” He noted that some people who lost the trust of the middle class forced them to seek the Islamic movements in Kuwait Regarding the fate of Islamic movements in the Middle East, Khair-Eddine Afyouni, a political analyst and a specialist in Islamic movements believes that Arabs chose the Salafists and the Muslim Brotherhood in Egypt because they preferred to base their choice on Quran and the Sunna instead of man-made law, however, people are monitoring these movements’ political performance as witnessed in Egypt and Tunsia.

As to the situation on the local arena, he added, “Kuwait is standing on an equilibrium point in terms of its relation with USA, Iran, the conflicts in the region, and the relationship with Saudi Arabia”.

Afyouni, went on to say, “These revolutions will lead Muslims to power and not Islamists who try to invest religion for political gains.” According to Afyouni, the

Iraqi Kurdish leader hails Kuwaiti official’s visit

IRBIL: The recent visit to Iraq’s Kurdistan by Kuwaiti Minister for Amiri Diwan Affairs Sheikh Nasser Sabah Al-Ahmad Al-Sabah constitutes a good opportunity to get acquainted with the northern region of the country pending future cooperation with the State of Kuwait, said a local official on Monday.

This visit is important for the two sides “because we want to open up to the Arab states particularly sisterly Kuwait” at political, economic, commercial and cultural levels, said Falah Mustafa, in charge of external affairs of the government of Kurdistan, in remarks to Kuwait News Agency (KUNA).

He expressed hope that after Sheikh Nasser examined security and stability of the region, Kuwaiti entrepreneurs would launch businesses in the region, noting that establishing a Kuwaiti

consulate here could be helpful for establishing long-term ties and cooperation between the two sides.

Sheikh Nasser, accompanied by a delegation of officials, arrived in Al-Sulaimaniah on the 19th of this month, on a mission aimed at exploring prospects of boosting ties and cooperation.

Palestine, Egypt and Jordan had opened consulates in the Kurdish region. Number of consulates in the area has reached 24.

Ties between Kuwait and Iraq have noticeably improved, with a recent visit by Iraqi Prime Minister Nouri Al-Maliki to Kuwait and His Highness the Amir’s attendance of the Arab summit in Baghdad, last month. These relations had been tense for two decades since the former Iraqi regime invaded Kuwait in 1990. -KUNA

Muslim Brotherhood’s movement is British made and the Salafists is American born too.

“Before the end of the colonial era, colonist wanted to leave someone to be used as a pressure tool against regimes, so they created the Muslim Brotherhood as counterparts to any democratic or secular ideology,” Afyouni added. As for the Salafists movements, Afyouni said, “AlQaeda was American made and it’s a part of a Saudi project called the Salafists which aims to practice pressure on GCC countries that doesn’t support the Saudi Kingdom politically.”

Afyouni warned Muslims from Hizb ut Tharir, a British made party that claims to restore the Caliphate and brands itself as the party which will liberate Jerusalem, similar to Hezbollah who brands the organization as the party of God. Dr. Nathan J. Brown, a distinguished scholar and author of several well-received books on Arab politics Islamist movements, believes that the Muslim Brotherhood had gone through ideological evolutionary phases changing from merely being socioreligious reform movements into political contestants. This evolution has put Islamist movements in what Dr. Brown called “the grey zone”, where they had to dilute their Islamic speech to accommodate their new roles as political parties.

Taking the Muslim Brotherhood as an example, Dr. Brown discussed the effects of the politicization of Islamist movements on the organizational goals and plans of these movements. According to Dr. Brown, the Islamist movements can easily slip into the political mistake of “planning for next elections rather than planning for next generations” unless they handle this transformation wisely.

4

ALWATAN DAILY

regional The gas?

By Hossam Fathi Staff Writer

KUWAIT: During Mubarak’s reign, the infamous gas agreement was signed with Israel to provide it with gas through a company owned by his friend and businessman, Hussein Salem, who fled to Spain. This agreement is unfair and wastes millions of dollars from the Egyptian people’s money.

Today, this agreement has been cancelled, but as usual, no one bothered to explain to the people who own this gas why the agreement has been cancelled now. What are the real reasons behind this cancellation and why was this cancellation been delayed to after the explosion of April 14?

Do the people not have the right to know the truth? How can London’s Middle East Newspaper quote a military official saying that the agreement has not been cancelled, but the prices of the gas will be adjusted to suit world standards. This military official asserted that Egypt is committed to all agreements and treaties.

So, has the agreement been cancelled or only amended? Another official stated that the cancellation of the agreement is purely commercial and has no political backgrounds.

In the beginning, Israel made threats; but suddenly, the tone changed and became friendlier. Now who can give us answers to what is happening? hossam@alwatan.com.kw Twitter:@hossamfathy66

Israel court rejects Palestinian prisoners appeals JERUSALEM: An Israeli military court on Monday rejected appeals by two Palestinian prisoners who have been refusing food for 55 days, their lawyer and a Palestinian prisoner rights NGO said.

“We just confirmed with Bilal Diab and Thaer Halahla’s families that both their appeals were rejected today,” a spokeswoman for prisoner rights group Addameer told AFP. Diab, 27, and Halahla, 34, began refusing food on February 29 in protest at being held without charge under a procedure known as administrative detention, which means they can be held for renewable periods of up to six months.

They are being held in the hospital wing of Ramle prison near Tel Aviv, with their condition described as “rapidly deteriorating.”

Their lawyer, Jamil Al-Khatib, confirmed the military judge had rejected their appeals after holding a closed meeting with members of Israel’s Shin Bet internal security service and the military advocate general.

“He looked at the confidential files and decided that their hunger strike was their choice and does not affect the danger which they pose,” he told AFP. “He said they are responsible for their own state of health.”

Al-Khatib said they had not been allowed any family visits and their health was in danger.

“They have entered a dangerous phase as each of them has lost 25 kilos (55 pounds), they have low blood sugar and high blood pressure and their hair is falling out,” he said, indicating Halahla was also bleeding from the mouth.

“I will make an appeal to the (Israeli) High Court tomorrow,” he said.

According to Physicians for Human Rights, Halahla has been in detention since June 2012, and Diab since August 2011. Both are allegedly associated with Islamic Jihad, but they have not been prosecuted.

Including Diab and Halahla, 11 prisoners have been on hunger strike for an extended period, most of them protesting against being held in administrative detention.

Refusing food has become an increasingly popular form of protest since the landmark strike undertaken by an Islamic Jihad prisoner called Khader Adnan, who went 66 days without food in a move which turned him into a national hero.

Over the last week, another 1,350 prisoners have begun an open-ended hunger strike to protest against the conditions in which they are being held.

There are 4,699 Palestinians being held in Israeli jails, of whom 319 are in administrative detention, according to Prisoners’ Club figures. -AFP

tuesDAY, april 24, 2012

Cheering protesters greet UN observers in Syria BEIRUT: Chanting crowds of anti-regime protesters in rebellious Damascus suburbs welcomed United Nations observers monitoring Syria’s shaky cease-fire Monday while the European Union imposed new sanctions targeting wealthy backers of President Bashar Al-Assad.

Also Monday, a Jordanian relief agency said Syrian troops ambushed hundreds of people fleeing the country over the weekend, and dozens of them crossed the border into Jordan with burns and gunshot wounds. The Kitab and Sunna charity said Syrian forces detained dozens of people, including about 50 women.

More monitors are due to arrive in the coming days, and the UN has authorized a mission of 300 total observers, though it remains unclear when the full contingent will arrive.

Activists said the observer team on Monday visited the mountain town of Zabadani, about 30 kilometers (20 miles) northwest of the capital Damascus, and a spokesman for the team, Neeraj Singh, said they were also touring the suburbs of Douma and Harasta.

All three areas have seen frequent anti-government protests and fierce regime crackdowns. Government troops shelled Douma on Sunday, activists said.

Amateur videos posted online Monday showed four observers wearing blue UN helmets and body armor walking in Douma through a crowd of thousands of protesters, who chanted, sang, played drums and waved Syrian flags.

Earlier in the day, they spent about 30 minutes in the mountain town of Zabadani, about 30 kilometers (20 miles) northwest of Damascus, where they talked to a few people and saw buildings damaged by government attacks.

Local activist Fares Mohammed said he was disappointed with the visit. Tanks that had been posted in the town center withdrew hours before the visit to an area less than a half kilometer (one mile) away, he said, and the observers declined offers by residents to show them the place.

“Those tanks can be back in the city in two minutes,” he said.

Since the cease-fire went into effect on April 12, regime forces have continued to shell rebellious areas, while rebels have ambushed regime checkpoints and military convoys.

Violence appeared to have dropped Monday, however, even in the opposition stronghold of Homs, which has been the hardest-hit target of the regime’s assaults. Two UN observers have remained in the city, and activists have reported relatively little violence there in recent days - after daily shelling for months before the observers’ arrival.

“There is a big difference,” said Homs-based activist Abu Mohammed Ibrahim via Skype. “Before, we were getting hit with rockets and mortars. Now there are snipers and some gun-

In this photo released by the Syrian official news agency SANA, UN observers speaks with Syrian citizens during their visit to the pro-Syrian regime neighborhoods, in Homs province, central Syria, on Monday April 23, 2012. (AP)

fire, but only medium weapons. Before they fired all they had at us.”

Ibrahim said local rebels were observing the cease-fire, avoiding military checkpoints and streets where the government had posted snipers.

Syria’s state news service said the UN monitors met Monday with residents in Homs’ northwestern Waer neighborhood.

Activists reported violence elsewhere, however, saying government shelling had killed people in the central city of Hama.

Videos posted online showed huge plumes of smoke rising from residential buildings.

The Syrian state news agency said Monday that “terrorists” had killed a doctor in the country’s south, two military officers in the central province of Hama and two others in the south.

In Luxembourg, the European Union banned the sale of luxury goods and products that can have military as well as

Sudan jets bomb market in South Sudan BENTIU, South Sudan: Sudanese warplanes bombed a major town Monday in South Sudan, hitting a market and killing a boy while wounding at least 10 people.

South Sudanese troops fired back as the threat of fullscale war between the two nations loomed.

The bombs fell with a whistling sound from two MiG 29 jets and exploded, reducing several stalls where food and other household items are sold to twisted metal and setting some ablaze. The burned body of the boy lay flat on his back near the center of the blast site, a hand clutching at the sky. A hospital official in Bentiu said 10 people were wounded. Trucks packed with South Sudanese soldiers sped off in the direction where the bombs landed and the soldiers started shooting at the Sudanese jets.

“The bombing amounts to a declaration of war,” said Maj. Gen. Mac Paul, the Deputy Director of Military Intelligence for South Sudan.

Sudanese armed forces launched an attack Sunday more than six miles (nine kilometers) inside South Sudan’s border. Last week the south announced it was pulling its troops from the disputed oil town of Heglig to avoid an all-out war between the two neighbors, but tensions remained high. South Sudan had invaded Heglig earlier this month, saying it belonged to the south.

Sudan’s President Omar Al-Bashir visited Heglig on Monday to inspect the damage in the town, according to the official Sudanese news agency. Sudan claims its forces liberated the town from South Sudan. Al-Bashir has vowed to teach his southern neighbor a lesson.

Mac Paul said two MiG 29 jets belonging to Sudan dropped three bombs on Monday, two of which landed near a bridge that connects Bentiu, the capital of Unity State and Rubkona, another town. US State Department spokeswoman Victoria Nuland said Monday the US strongly condemns Sudan’s military incursion into South Sudan, and called for the immediate halt of aeriel and artillery bombardment in South Sudan.

“We recognize the right of South Sudan to self-defense and urge South Sudan to exercise restraint in its reaction to Sudan’s attack in Unity State,” she said.

The European Union in a statement on Monday also urged Sudan and South Sudan to end their armed confrontation and negotiate. The EU welcomed South Sudan’s decision to withdraw its troops from neighboring Sudan’s oil-rich town of Heglig and warned the government not to mount any more attacks. It also called on Sudan to refrain from attacking the withdrawing forces and cease aerial bombardment of South Sudan. -AP

A SPLA soldier walks in a market destroyed in an air strike by the Sudanese air force in Rubkona near Bentiu April 23, 2012. (Reuters)

Sixteen Al-Qaeda suspects killed in Yemen

SANAA: At least sixteen suspected Al-Qaeda operatives have been killed in Yemen in ongoing battles between the army and militants for control of the country’s mostly lawless southern and eastern regions, the ministry of defense said on Monday.

Citing a local official from the embattled southern Abyan province, a militant stronghold, a ministry statement said the army fired a series of artillery shells on suspected Al-Qaeda positions near the city of Loder late on Sunday, killing 13 militants.

The unnamed official said the shelling forced the Islamist insurgents to retreat from their newly held positions around the strategic city, adding that armed civilians loyal to the army, known as the Popular Resistance Committees, aided the attack. The deaths came a day after 17 Al-Qaeda suspects were killed in an air raid that struck one of their hideouts in Loder.

At least three other militants were killed elsewhere on Sunday, in an air strike on several vehicles travelling in a remote desert region in the country’s eastern Marib province, the defense ministry statement said.

It was unclear if these most recent strikes were carried out by the Yemeni air force or by US drones. On Wednesday, the Washington Post said US drones have carried out eight air strikes in Yemen in the past four months.

The Yemeni government denies US drones carry out attacks within its borders and the United States has never formally acknowledged the use of drones against Al-Qaeda in Yemen, which Washington considers the most active and deadly branch of the global terror network. -AFP

Al-Qaeda group calls for Algeria election boycott, revolution DUBAI: Al-Qaeda’s North Africa wing has called on Algerians to revolt against the ruling elite and boycott a parliamentary election next month, describing the vote as “plastic surgery”, in an audio message posted on the Internet. Energy-exporting Algeria is the only country in North Africa whose political system has been virtually untouched by Arab Spring uprisings that unseated autocratic rulers in Tunisia, Egypt and Libya.

The government has made some moves to ease political restrictions, lifting a 19-year state of emergency, authorizing the creation of new political parties for the first time in more than a decade, and inviting European Union monitors to oversee the May 10 vote. But the head of Al-Qaeda in the Islamic Maghreb (AQIM) said these and other reforms were no more than window-dressing by a degenerate political clique desperate to stay in power, in the recording, titled “Boycott the Election Farce”.

“These elections will not bring the real change that is sought, rather it will be like plastic surgery,

the goal of which is to give false legitimacy to this corrupted and corrupting gang,” said Abu Musaab Abdel-Wadud in the 21-minute message, uploaded to Islamist forums on Monday.

“Oh Muslims, your duty today is not to participate in this disgraceful, fake election; your duty is to reject those oppressors in disguise and wage jihad (holy war) and rise up against them,” added Abdel-Wadud, who is also known as Abdelmalek Droukdel. The authenticity of the recording could not independently be verified. AQIM has only limited influence on Algerian society because most of the population is fed up with years of violence. Algeria, an OPEC member, is a top gas producer and crucial ally for Western governments in the fight against AQIM around the southern edge of the Saharan desert.

Abdel-Wadud said the government would use every means “including forgery” to contain the influence of Islamists, who are tipped to do well in the election, buoyed by Islamist gains in postrevolutionary north African states.

civilian uses to Syria.

EU foreign affairs chief Catherine Ashton said the bloc approved the new set of sanctions - the 14th in the past year “because of deep concern about the situation and continuing violence in spite of the cease-fire.”

EU experts will work out later precisely which goods will be included in the new embargo. One of the diplomats said socalled “dual-use” goods can include anything from vehicles to fertilizers and other chemicals.

The only precedent in international relations for the luxury ban is one imposed by the EU in 2007 on North Korea for its nuclear and ballistic missile programs. That ban included foods such as caviar and truffles, high-quality wines and spirits, perfumes and purebred horses.

The sanctions take aim at the wealthy business class that has largely stood by Bashar.-AP

Turkey says Israel not welcome at NATO summit

ISTANBUL: Turkey has refused to allow Israel to take part in a NATO summit next month because the Jewish state has not apologized for the 2010 killing of Turkish activists in a raid on a ship taking aid to Palestinians, a Turkish official said on Monday. Relations between the regional powers deteriorated sharply after Israeli commandos raided the Mavi Marmara aid vessel in May 2010 to enforce a naval blockade of the Gaza Strip and killed nine Turks in clashes with activists.

Last September, Turkey expelled Israel’s envoy and froze military cooperation after a U.N. report on the raid failed to prompt an apology from Israel.

“We did not give our consent on that issue,” a Turkish official told Reuters when asked if Turkey was blocking Israel’s participation in a NATO summit in Chicago on May 20-21.

He said Turkey was still seeking an official apology and compensation for the victims of the Mavi Marmara raid.

“NATO is an alliance and even though Israel is not a member its attendance means ... positive dialogue with NATO and all its members and without sorting this issue out we deem it not appropriate for Israel to be around,” the official said.

Turkish media reported that some NATO members had sought Israel’s participation in the summit as part of the alliance’s partnership cooperation program, designed to strengthen relations with non-member countries.

Israel is a member of the Mediterranean Dialogue, a NATO outreach program, along with six other non-NATO countries.

The Turkish official rejected the description of the move as Turkey “blocking” Israel’s attendance, saying the NATO secretariat and NATO allies would not bring the issue to the agenda officially, knowing Ankara’s stance on the issue.

A NATO spokeswoman said there had not been a discussion on inviting Israel to the Chicago summit.

The United States has tried to encourage a rapprochement between Turkey and Israel in the face of turmoil in the Middle East.

The issue of Israel’s participation was brought up at a NATO foreign ministers’ meeting in Brussels on April 18 attended by Turkish Foreign Minister Ahmet Davutoglu, Turkey’s Hurriyet Daily News said.

It said ministers from some NATO countries, including the United States, France and Secretary General Anders Fogh Rasmussen, indirectly criticized Turkey for bringing its bilateral problems with Israel to the NATO platform. -Reuters

Militia clashes kill one in southern Libya: Officials

TRIPOLI: Clashes between two Libyan militias in the country’s southernmost desert killed one person and injured 13 on Monday, officials said, underlining the unrest and ethnic tensions still raging eight months after the overthrow of Muammar Gadhafi. Fighting first erupted on Saturday after the Libya’s Shield militia, an Arab force from the northern coastal city of Benghazi, travelled south to the mostly non-Arab area near Libya’s southern borders with Chad and Sudan to reinforce the army.

An army spokesman, who asked not to be named, told Reuters violence broke out in the city of al Kufra after the area’s non-Arab Tibu tribe found one of its members dead in the street and blamed the army. There was a pause in the violence on Sunday but fighting broke out again in the centre of Kufra on Monday, said local officials.

Hussein Shakai, from the Tibu tribe and head of the Kufra community center, told Reuters Libya’s Shield fighters attacked Tibu neighborhoods with rockets, leaving at least six houses burned to the ground.

The Tibu then retaliated, he said. Abdel Bari Idris, head of the Supreme Security Committee of Kufra, said that the army was not involved in the fighting and had retreated from the area. Long-standing rivalries, divided communities and plentiful weapons are plaguing Libya as the interim government struggles to impose its authority and secure peace among the vast oil-producing country’s ethnic groups.

The remote southeast has a history of tribal violence and rebellion in 2009 was suppressed, only after Gadhafi sent in helicopter gunships. Gadhafi his grip on power, partly by playing off one tribe or clan against another. The armed forces were sent to Kufra, 1,100 km (680 miles) south of Tripoli, in February to quell fighting between the Tibu and another tribe in the area. The Tibu tribe lives mainly in Chad but also inhabits parts of southern Libya. -Reuters

ALWATAN DAILY

WORLD

tuesdAY, april 24, 2012

France’s Hollande, Sarkozy in hunt for far-right votes PARIS: Socialist frontrunner Francois Hollande and incumbent Nicolas Sarkozy launched the campaign for France’s presidential run-off on Monday with the farright set to play a key role after a record result.

The two are to face off on May 6 after Sunday’s first round saw Hollande beat Sarkozy by a vote of 28.63 to 27.08 percent, according to near complete official results. Hollande’s victory cemented his position as the clear leader in the race, dealing a blow to right-winger Sarkozy’s hopes of gaining enough momentum from a first-round win to defy expectations and return to office.

But it was the shock showing of anti-

NEWS IN BRIEF Flash floods kill seven in Kenyan park

immigrant, anti-EU flag-bearer Marine Le Pen, at 18.01 percent, that shook up the race, setting up her voters as potential kingmakers.

Hollande told reporters on Monday that the vote reflected anger in the country and that he would listen to far-right supporters.

“Nicolas Sarkozy is to blame for the far-right’s high level,” Hollande told reporters. “There are voters who may have been been led to this through anger. That is what I want to hear.”

Polls show the Socialists could attract about a quarter of Le Pen’s backers, but it is Sarkozy who will mainly be gunning for their support. -AFP

NAIROBI: The victims, all Kenyan nationals, were part of a church youth group in a walking safari at the park located to the north-west of Nairobi. “The seven people had gone missing just before dusk, when the group encountered sudden flash floods,” the Kenya Wildlife Service said in a statement. Kenya’s main rainy season between March and May often causes floods and massive displacement across the east African country. -AFP

Coast Guard rescues 10 from burning fishing boat

France’s Socialist Party (PS) candidate for the year 2012 French presidential election Francois Hollande (center) smiles as he leaves his campaign headquarters in Paris on April 23. (AFP)

UN set to renew Western Sahara force despite criticism UNITED NATIONS: The UN Security Council has reached a deal on a draft resolution to renew the mandate of the peacekeeping force in the disputed territory of Western Sahara this week, envoys said, but the Polisario Front independence movement and South Africa are disappointed.

The renewal of the mandate of the peacekeeping force, known as MINURSO, marks an annual battle in the council between Morocco, backed by France, and African nations supporting Polisario.

The African countries have repeatedly called for UN peacekeepers to be given the task of monitoring alleged human rights abuses.

Morocco and France, its former colonial master, have resisted the idea that the peacekeepers should report on rights abuses in Western Sahara, a sparsely populated tract of desert that has phosphates, fisheries and, potentially, oil and gas.

Former British diplomat Carne Ross, who heads the Independent Diplomat, a group that advises Polisario, wrote in the Guardian newspaper last week that Western Sahara is the “forgotten first source of the Arab Spring.” He was referring to the Moroccan authorities’ deadly crackdown on protests there by the Saharawi population in late 2010.

While the Security Council has never formally assigned the peacekeepers the role of human rights monitoring, Morocco has faced pressure to allow language on human rights in the resolutions on Western Sahara. Rabat insists the territory should come under its sovereignty, but the Polisario contends it is a sovereign state.

5

The United Nations Security Council meeting convenes in New York, April 14. (Reuters)

The latest draft calls on both sides to respect human rights and welcomes Morocco’s decision to set up a national council on rights and grant access to the Geneva-based UN Human Rights

Council. Previous resolutions had made only a vague reference to the “human dimension” of the conflict.

The Polisario, which represents the Saha-

rawi people, waged a guerrilla war against Moroccan forces until the United Nations brokered a ceasefire in 1991 with the understanding that a referendum would be held on the fate of the territory.

The referendum was never held and attempts to reach a lasting deal have floundered.

The new draft resolution has the council “stressing the importance of improving the human rights situation in Western Sahara and the Tindouf camps, and encouraging the parties to ... to ensure full respect for human rights.”

The draft resolution, which would extend the peacekeepers’ mandate until April 2013, is scheduled to go to a vote on Tuesday, council diplomats say. Polisario and temporary council member South Africa are disappointed with the text.

“Certainly, human rights have been once more sacrificed by the Security Council in Western Sahara ... as a result of France’s blind support to his client in the region, Morocco,” said Polisario’s representative in New York, Ahmed Boukhari.

South Africa’s UN Ambassador Baso Sangqu told Reuters he wanted tougher language on human rights and a demand that Morocco end its restrictions on, and monitoring of, MINURSO. A UN report to the 15-nation council on Western Sahara has been a focus of controversy this month. The United Nations circulated three different drafts to the council before settling on what it said was the “final advance copy.”

-Reuters

HONOLULU: Ten members of a Taiwanese fishing ship were rescued in the Pacific after being forced to abandon the burning vessel before it sank, authorities said late on Sunday. The crew aboard the 70-foot ship made a radio call about the fire Saturday afternoon when it was about 700 miles west of Guam, Coast Guard Lt. j.g.

Richard Russell said. A US Navy search aircraft stationed at Kadena Air Base in Japan flew to the site and saw eight people in a life raft and two more on the bridge of the burning ship. The Navy crew threw life rafts to help the two left behind and took photos of the vessel as it was fully engulfed in flames. -AP

Bomb kills two NATO service members in Kabul KABUL: NATO forces say two international service members have been killed in a bomb attack in eastern Afghanistan.

The military coalition says in a statement issued Monday that the deaths happened on Sunday. The statement does not provide nationalities or other details. NATO typically waits for member nations to announce casualties before providing more information. Most of the international troops in the east are American but their are forces from other NATO nations as well. The deaths make at least 25 international service members killed so far this month. (AP)

Iceland’s former PM awaits court’s verdict Reykjavik: The only politician in the world to stand trial for his role in the 2008 financial crisis will learn his fate when a court in Iceland rules on whether the island’s former prime minister was grossly negligent or not in his handling of the crisis. Geir Haarde, 61, has pleaded innocent to four charges alleging that his negligence in carrying out his duties contributed to the economic disaster on the North Atlantic island. He could be sentenced to up to two years in prison if convicted. The verdict on Monday will be announced by 15 members of the Landsdomur, a special court founded in 1905 to deal with criminal charges against Icelandic government ministers. This is the first case to be tried by the court. -AFP

Australia PM defends scandal-hit speaker’s appointment SYDNEY: Prime Minister Julia Gillard Monday defended her appointment of Peter Slipper as Australia’s speaker as court documents alleged he used his position to pursue sexual relations with male employees.

The married Slipper, 62, stood aside from his role on Sunday after claims he harassed former staffer James Ashby, 33, with explicit text messages, unwanted advances and inappropriate comments between January and March this year.

He is also accused of fraudulently misusing taxpayer-funded taxi services.

In court documents published Monday, Ashby accused Slipper of “using his position to pursue relationships of a sexual nature with young male employees”.

Ashby, who is openly gay, claimed the Commonwealth knew that in 2003 Slipper had a sexual relationship with another younger male member of his staff.

He alleges the Commonwealth “failed to take reasonable and effective steps to prevent (Mr Slipper) from utilizing his office to foster sexual relationships with young male staff members”. Ashby is seeking compensation and orders for his former employer to undergo counseling and anti-discrimination training.

Slipper has denied all the allegations. Besides the civil proceedings over the harassment claim, he is also facing an investigation into the possible criminal misuse of taxi vouchers. News Limited newspapers Monday published more allegations, claiming he also breached rules relating to travel entitlements of MPs. Slipper defected from Tony Abbott’s opposition Liberal Party last year so he could be appointed speaker. It stripped one vote from the opposition and shored up Julia Gillard’s ruling Labor Party’s wafer-thin hold on power. Gillard said she had not

spoken to him in recent days but defended her judgment in engineering his promotion to the role last year. “I don’t claim to know Slipper personally or well but I formed a professional judgment about his ability to do the job,” she told reporters in Singapore. “And Slipper, as he has done his work as speaker, has kept firm control of the parliament particularly during what can be quite a raucous period - question time.” But she said it was appropriate that he stood aside.

“Australians rightly expect parliamentarians to play by the rules and to uphold the respect and integrity of the Australian parliament,” she said.

His decision to step aside leaves Gillard’s minority Labor government on a parliamentary knife-edge, reducing their numbers in the lower house to 74 with Slipper unable to vote while he stands aside. The opposition has 73 votes. -AFP

Myanmar ruling party rejects Suu Kyi demand to change oath NAYPYITAW: Myanmar’s ruling, army-backed party on Monday rejected demands by Nobel Peace Prize laureate Aung San Suu Kyi to change parliament’s oath of office, the first clear sign of friction since the democracy leader’s party swept historic by-elections.

The dispute marred Monday’s opening of parliament, as Suu Kyi and other members of her party refused to take their seats, denting an image of transformation on the day the European Union agreed to suspend most sanctions against Myanmar for a year, EU diplomats said.

The expected EU decision on sanctions is a boon for Myanmar’s long-stagnant economy and could prompt the United States and Canada to follow suit and pave the way for development loans and a flood of foreign investment in a trove of natural resources such as oil, gas, timber and gemstones.

Suu Kyi’s National League for Democracy’s (NLD) wants to replace the words “safeguard the constitution” with “respect the constitution” in the oath sworn by new members of parliament.

Suu Kyi promised supporters that, if elected, she would seek to revise the 2008 army-drafted constitution that gives the military wide powers, including the ability to appoint key cabinet members, take control of the country in a state of emergency and occupy a quarter of seats in parliament.

But the secretary general of the ruling Union Solidarity and Development Party

Myanmar’s President Thein Sein (left) speaks to the press during his visit to Tokyo on April 23. (AP)

(USDP), Htay Oo, said his party would not introduce any proposal to change the oath.

“The wording would have no impact on the development of the country,” he told Reuters.

President Thein Sein, a reformist former general, told reporters in Japan that he also had no plans to change the wording

of the oath, Kyodo news agency reported.

The NLD wants to reduce the military’s enshrined political role after five decades of often brutal army rule in the former British colony also known as Burma, but its standoff over the oath risks alienating supporters.

“The timing is all wrong,” said Aung Zaw, a Myanmar expert and editor of the

Thailand-based Irrawaddy magazine. “It’s quite a divisive issue and a lot of people are very disappointed because there are so many pressing issues that the NLD needs to be handling right now, in parliament.”

The NLD petitioned Thein Sein and the house speakers to make the change after winning all but one of 44 seats it contested in April 1 by-elections, a landslide that raised hopes among many people that she would accelerate reforms in a parliament stacked with former generals.

“In any country, even the United States, they have to agree to the defense, not the respect, of the constitution,” said Khin Shwe, an upper-house member of the USDP, which won a 2010 election, which Suu Kyi’s party boycotted, amid opposition complaints of rigging.

“If the NLD wants to change this, they need to do it from inside parliament,” he added in an interview with Reuters at parliament in the new capital, Naypyitaw, holding up a list of countries whose lawmakers swear an oath to protect the constitution. Thein Sein’s dramatic reforms of the past year include the freeing hundreds of political prisoners, allowing more media freedom, reforming the currency and holding peace talks with ethnic minority rebels.

The question of changing the oath may come down to a vote of the bicameral parliament dominated by allies of the former military junta, who might not be sympathetic to the NLD after it was dealt a crushing by-election defeat. -Reuters

6

ALWATAN DAILY

OPINION

tuesDAY, april 24, 2012

A ‘knucklehead’ behind the shenanigan protest against ambassador Fuad Al-Hashem

A

photo published by Al Watan on Sunday on the second page had attracted my attention but for the wrong reasons. The picture shows four persons wearing dishdashas, a national dress of Kuwait men, with only the lower part of their body, and their heads covered with posters saying “Leave!

Leave! We don’t want you!”.

The anonymous four Kuwaitis wanted the public to know that they as students studying in the Hashemite Kingdom of Jordan are not happy or satisfied with the work of His Highness the Kuwaiti Ambassador to Jordan Sheikh Dr. Hamad Al-Duaij Al-Sabah.

It is worth noting that we are not talking about someone who has been recently appointed and therefore his conduct and work are amateurishly carried out or that His Highness the ambassador lacks the needed skills and requirements as an ambassador. Sheikh Hamad began his diplomatic career of all places in the Jordanian capital Amman.

He had spent a good 10 years serving as Culture Attaché then later was appointed an ambassador to the government of His Majesty King Abdullah II. Initially, the number of Kuwaiti students studying in Jordan was somewhat modest as there were only 500 in total. This number soon doubled and Sheikh Hamad had to put up with their continuous complaints. He even ensured that they settle in perfectly well and that everything they need would be available to them since they had left their families and began living alone.

Sheikh Hamad for another 10 years has been catering and looking after Kuwaiti students studying in Jordan even when the number had reached a staggering 3, 500 students. He even visited them in hospitals after heavy fights and brawls over trivial matters. He made sure that their university registration and enrollment were correctly done. He also followed up their police cases in late nights because of their sexual harassments and personal issues.

Then, suddenly out of the blue, four or five person wearing dishdashas, covering their faces behind posters demanded that the ambassador leave his

BU QUTADA & BU NABIL

He made sure that their university registration and enrollment were correctly done. position because he didn’t defend their case back in Jordan. The students were covering their faces not out of fear but embarrassed by their actions in Jordan and yet audaciously carrying posters demanding the departure of the ambassador!

We need to remember that there are 3,469 Kuwaiti students in Jordan studying there with their hearts content. But those five, because the ambassador didn’t permit their mistakes, decided to publicly demand his removal. Sheikh Hamad suddenly had become disturbed!

To end this story short, I say to that the “knucklehead” behind the shenanigan against His Excellency the ambassador: “You need to stop doing what you are doing. Otherwise, we will expose you, feeling stark naked, it would remind you of your father Adam.”

Moving to the Egyptian news where three leading parliamentary members of the Egyptian Muslim Brotherhood visited Washington DC to meet with leading figures in the famous Jewish organization known for its pro-Israel lobbying activities AIPAC, the American-Israeli Public Affairs Committee.

Meanwhile, the Muslim Brotherhood’s candidate Dr. Mohammad Mursi announced in his first press conference held Saturday evening that his organization “fully respects the Camp David Accord and the other agreements with other countries.”

It is worth mentioning at this stage that former Muslim Brotherhood candidate and former prisoner Khayrat Al-Shater had sent a secret message to the Washington DC dated April fifth, asking the US Administration to support his candidacy for the presidential post.

In return, Al-Shater promised that he “would fully support all peace agreements with the State of Israel and that the United States would be the only supplier of military weaponry for the Egyptian Armed Forces.” He also promised that all American

These are the towers of Kuwait ..... there is no water inside

businesses would have priority in terms of investment in Egypt with no hindrance to stop any US business ventures. The former candidate even promised that he would stop any attempt on the part of the Egyptian parliament to introduce any changes in the laws which would be compatible with the Islamic Sharia such as the prohibition of alcohol, gambling casinos or other touristic activities in Egypt.

Khayrat Al-Shater concluded his report that any requests and demands from Washington DC “would be dealt with utmost courtesy and total approval.”

But Al-Shater’s plans were all put to an end when he was legally challenged over his past prison sentences. However, his comrade Dr. Mursi when asked whether Al-Shater would be appointed as Vice-President, his reply was “this would be too early to discuss the appointment of Al-Shater as Vice-President of the republic.”

The message is loud and clear that the minute the Muslim Brotherhood reaches the Abdeen Palace, the former prisoner would be appointed as the second man in Egypt. Seconds later, Rafah Crossing would be sealed off in line with the Israelis wishes.

The People of Gaza would think of former president Hosni Mubarak as an angel comparing to the Muslim Brotherhood.

Moving now to the Syrian affairs where the Syrian Intelligence apparatus had already passed instructions to its overt agents all over the country to infiltrate the Free Syrian Army.

The agents had also been instructed to leave their beards and act in similar manner of that of the revolutionaries with the aim of mingling with those of the international observers sent by the United Nations to the city of Hums and other targeted places.

The idea of course is to give the impression of the international observers that the Free Syrian Army and their supporters are radical Islamists.

This is the grand mosque .... Escape fast .... A part of the building might collapse on us

This is the first ring road ..... it is a maze ..... like a trace of a snake

What great investigation committees!

Nabeel Al-Fadhl

T

he Majority Bloc had surprised us by calling for forming a parliamentary committee to open an investigation about overseas money transfers but we opposed that committee because it lacks integrity. Then several MPs became angry because of suspecting the integrity of the committee members. Anyway, integrity can’t exist in a committee that lacks neutrality.

The members of the committee include MPs like Musallam Al-Barrak and Faisal Al-Mislem.

Therefore, we can’t trust investigations about an accusation against the former Prime Minister Sheikh Nasser Al-Mohammad. Forming such committee indicates that the majority bloc behaves according to certain principles and aims at achieving certain goals even if those goals are unreasonable.

During a few weeks the committee diverted from the real track and the article 54 of the constitution which stipulates holding secret sessions by the investigations committee. The members and the head of the committee were releasing statements about what happened in the sessions to the different newspapers.

I have written a message about that and sent it to the parliament but it was rejected and dropped

from the agenda of the session.

I have sent other notices about the inappropriate behaviors of the members of the committee against government officials while attending the sessions but the majority bloc ignored such notices. After that the officials stated that the members of committee did not deal well with them.

The members of the committee attempt to avenge officials who don’t work as the committee members like.

Some MPs criticized the behaviors of the committee members recently and said that forming such a committee is unconstitutional and others said that forming large numbers of committees makes the National Assembly seem as a police station and not a parliament. In the meantime, media sources started criticizing committees. Even Dr. Mohammad Al-Muqatae has written an article two days ago condemning committees especially threatening some witnesses of getting referred to the Public Prosecution!

We also wonder why Dr. Mohammad AlMuqatae announced his opinion late. And we don’t know whether Dr. Mohammad declared that because of understanding the constitutional articles. Or because certain friends who want to please the government asked him for that!

If the parliament depended on fair and dem-

ocratic procedures while forming committees through opening the door for all MPs who want to run in the election of the committees, then the parliament would avoid getting involved in such inappropriate practices.

I believe that dominating the parliament by the power of the majority bloc- without even caring about the constitution or manners will make the parliament face a critical stage and it will contribute in distorting our immature democracy.

Within the next few hours we will sign up a new internet website to receive all photos that Kuwaiti citizens can take for MPs or their secretaries who visit ministers` offices.

Or the offices of the undersecretaries in order to file an interpellation motion against the ministers because they violate article 115 of the constitution. We are sure that such a step requires effective cooperation by Kuwaiti citizens to pursue reforms as much as we can and halting all MPs` practices which violate the constitutional articles.

If we don’t exert such efforts then the parliamentary corruption will continue until destroying the civil state, the constitutional institutions and laws as well. Therefore we hope all Kuwaiti citizens to cooperate with us to purify the national assembly from corruption.

This is Jaber Stadium .... Let`s have a match everyday

We hope MPs to maintain the distinguished image of Kuwait Khalil Ali Haydar

W

ill the conflict between the Majority bloc and minority members undermine the Kuwaiti democracy? At the present time we might live the last chapter of the democracy which lost a lot of its enthusiastic supporters. Is what is happening now just simple problems that will be overcome like the previous problems?

One of the most prominent features of the parliament is that the parliament is expected to be a convenient environment for dialogue and discussions between the political elite then such dialogue and discussions are followed by final voting to determine the future of the country.

On the other hand the worries of our colleague Fahad Al-Ali which were published through an article by Al-Qabas newspaper on April 21st, 2012 are reasonable ones because support of the members of the parliamentary legislative committee for toughening the penalty against the persons who insult God Almighty or the Prophet peace be upon him can be considered as a step for banning people from talking inappropriately about God or the prophet but in the mean time such step was endorsed following an angry reaction of some

We also still enjoy a good reputation that we have built through decades especially in the fields of tolerance, rights and freedom.

MPs! The other thing is that more than 30 MPs have submitted a suggestion for amending article no. 79 of the Kuwaiti constitution and we could not hear a single MP rejecting such request!

Such laws will destroy the international and regional image of Kuwait and they will make us as an isolate state wherein the other countries will even feel sorry to what we will face in the future.

It is not good for Kuwait to get involved in a conflict with the international media sources, human rights organizations and the other international organizations under the pretext of restricting freedom.

The very steps will never contribute in maintaining the great image of Islam on the contrary they will affect it especially through the calls of some figures for demolishing churches!

The majority of parliamentary votes and the

results of the parliamentary election grant certain MPs, especially the Majority Bloc further political rights. But there are some international laws and regulations that influence the Kuwaiti laws because we live in a state which is a part of a larger entity which includes a large number of countries.

We also still enjoy a good reputation that we have built through decades especially in the fields of tolerance, rights and freedom. This image and reputation became more prominent by the flexible and distinguished Kuwaiti diplomacy.

However, any rash legislation contributes in deepening the sectarian and tribal conflicts as well as the gap amongst the Kuwaiti people.

Therefore we hope all our brothers in the parliament would maintain the good image and reputation of Kuwait.

Alright... do you have development projects?

Yeah! We have a ministry for development as well as developmental projects .... But they are kept in drawers

Mohmmed Thallab

mthallab@alwatan.com.kw

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ALWATAN DAILY

views France and Frankfurt Harold James Project Syndicate

O

ver the past two years, financial markets have turned the spotlight on a succession of countries - Greece, Ireland, Portugal, Spain, and Italy - turning each into the epicenter of a seemingly perpetual European financial earthquake. But politicians always recognized that the heart of the European project was the relationship between France and Germany. Is that relationship now in jeopardy?

There is a falling-domino argument that suggests that the crises on Europe’s periphery will have a knock-on effect on the Franco-German core. France, in the aftermath of a property and asset-price bubble, is vulnerable to some of the same combination of banking and public-finance problems. Indeed, now France’s presidential election has politicized the link between peripheral dominos and Europe’s French heart. In his final campaign rally before the first round of the presidential election, Nicolas Sarkozy stood in front of a banner proclaiming “la France forte,” or strong France. For much of his audience, Sarkozy’s head obscured the “e” in France, so that the slogan looked more like “franc fort,” or strong French franc - which sounds like nothing if not “Frankfurt,” the German financial center that is the seat of

tuesDAY, april 24, 2012

Three percent of GDP was the figure that Delors calculated as the maximum deficit compatible with monetary stability in the circumstances of 1983. the European Central Bank. Sarkozy’s speech reinforced that message. Only reelecting the president could save a strong currency that guaranteed French wealth and incomes. The left would trigger a currency collapse and a run on French securities that would bring the euro crisis from Greece, Spain, or Italy to the heart of the European process, France’s relationship with Germany. The French presidential campaign has reopened an old theme of French politics. Left-wing politicians see themselves as the victims of financial conspiracies. In 1924, a socialist and center-left coalition, the cartel des gauches, was met by a flight of money and a run on the franc, which the left believed was organized and facilitated by the Banque de France (the central bank).

In 1936, when communists allied with socialists in Léon Blum’s Popular Front, and pushed through wage increases and reductions in working hours, another franc crisis erupted, and, within two years, the center right was back in power. In the meantime, though, the left had nationalized the central bank.

The most recent episode in this long-standing drama came with François Mitterrand’s victory in 1981. As President, for the next two

IMF-euro conditions not what they seem

years he ran an experiment in socialist economics, designed to woo communist supporters. Banks were nationalized and wages were raised, causing repeated runs on the franc. The government was forced to impose harsh capital controls, including restrictions on what citizens could spend abroad as tourists.

After two years, Mitterrand faced a dramatic question: should France continue on the path of “socialism in one country,” or did European integration require a U-turn? As Finance Minister, the moderate and Europhile Jacques Delors executed the U-turn that brought France back to Europe and to the “franc fort.”

The parallels between now and 1981 are very close. In 1981, there was a European framework for currency stability, the European Monetary System, which Mitterrand regarded as the personal project of his right-wing opponent, the incumbent President Valéry Giscard d’Estaing. It seemed obvious for him to attack the stable currency as a conservative project for holding down working-class wages. In the middle of a recession, it also looked like the cause of unemployment in France.

In 2012, rescuing the euro was personalized as a tango between Sarkozy and German

Chancellor Angela Merkel, a duo derided as “Merkozy.” They made the crucial decisions.

They insisted on budgetary stability and the “six-pack” that the left dislikes.

Both the far-left candidate, Jean-Luc Mélenchon, and the right-wing populist, Marine Le Pen, have put anti-German rhetoric at the center of their campaigns. But so did the mainstream left candidate, François Hollande, who now seems poised to win the election.

He repeatedly contrasts the ECB’s rigor and orthodoxy with the flexibility - a euphemism for willingness to print money - of the British and American central banks. His case seems strengthened by the collapse of the Dutch government as a result of the populist Geert Wilders’ objection to German-imposed austerity, as well as by the strength of Le Pen’s support in France.

Bringing France to Mitterrand’s U-turn required a profound change in the European approach. The European Commission worried that the left under Mitterrand would reject the European Monetary System. Something needed to be done in order to appeal to French socialists, and France needed to be given a greater say over German monetary policy.

7

Germans, and particularly the powerful central bankers at the Frankfurt-based Bundesbank, were appalled. A leading Commission official was dispatched to confront the central bankers. He explained that Germany’s monetary stewardship had been too successful in the fight for stability, with the result that it had become politically vulnerable.

France’s U-turn generated the set of arguments that would justify the creation of the euro. German-imposed austerity required some Europeanized mechanism to soften it, and to make it politically acceptable. France’s side of the pact was to think about budgetary rules. The three percent-of-GDP cap on budget deficit, established somewhat arbitrarily in the 1990’s, also originated from the traumas of the Mitterrand experiment. Three percent of GDP was the figure that Delors calculated as the maximum deficit compatible with monetary stability in the circumstances of 1983. It then simply hardened into a general European rule in the 1990’s. Financial markets nowadays are much more aggressive than they were in 1981.

There is no possibility of a two-year period of experimentation.The result will be very intense pressure for a rapid redesign of European institutions, with the risk that the outcome will lack credibility - less a U-turn than a dead end.

Harold James is Professor of History and International Affairs at Princeton University and Professor of History at the European University Institute, Florence. He is the author of The Creation and Destruction of Value: The Globalization Cycle.

American brands become trendy for international consumers

Hugo Dixon Reuters

The intertwining of lenders and their states is unhealthy. Banks which get into trouble need to be bailed out.

W

e’re going to be really tough on the euro zone. If they want more bailouts from the International Monetary Fund, they are going to have to submit to strict conditionality. That was the message delivered by the rest of the world when it agreed at the weekend to participate in a fundraising exercise that will boost the IMF’s resources by at least 430 billion.

But the meaning of the message isn’t quite what it seems. The IMF is actually in some ways calling for less rather than more short-term austerity in the euro zone. So if the Europeans submit to IMF discipline, it will ironically mean less of a hair shirt.

It is easy to see why the rest of the world is unhappy with the special treatment the euro zone receives from the IMF. The managing director, currently Christine Lagarde, has always been a European. Vast resources, way beyond what are normally available in IMF programs, have been channeled to Greece, Ireland and Portugal.

What’s more, the rest for the world - from developed countries such as America, Britain and Canada to emerging nations such as Brazil - feel that, despite being pretty rich, the euro zone has not done enough to sort out its own problems. Hence, the agreement to beef up the IMF resources only after a long wrangle - and only after scaling back the original request from $600 billion as well as insisting on strict conditionality before the money is ever disbursed.

At the same time, the IMF has three recommendations, as outlined in last week’s World Economic Outlook, which are somewhat at variance with current euro zone policy. First, it wants the region not to overdo short-term fiscal austerity while placing more emphasis on longer-term structural measures to improve budgets. Second, it wants the European Central Bank to continue very accommodative monetary policies. Finally, it wants the euro zone authorities to be prepared to inject capital directly into troubled banks and to accompany that with stronger European-wide supervision of lenders. All these ideas would help reduce the pressure of the current euro zone recession and so ease the crisis.

Will the IMF, though, get its way? Well, certainly not immediately. The euro zone doesn’t have to listen to it unless another country - say Spain or Italy - needs a bailout. Even then, only the country requiring cash would technically have to pay heed to the IMF. The rest of the euro zone, led by Germany, could argue that the IMF has no business interfering with the monetary policy or banking supervision of the entire 17-member euro zone when only a few peripheral nations are receiving help.

What’s more, the bulk of the money from any future bailouts would continue to come from other euro zone countries rather than the IMF. These other countries would argue that they should have a big say, even on fiscal policy, because they will be bankrolling most of any deficit shortfall.

But even if the IMF can’t get its way immediately, the debate is shifting slowly in its favor. The euro zone may not like interference in monetary policy. But the ECB has shown itself willing to spray one trillion euros in long-term loans at the region’s banks in the heat of the crisis in recent months. Some of the central bank’s members, with the notable exception of Germany’s Bundesbank, are saying it is too early to plan for an end to such policies.

Or take fiscal policy. Euro zone leaders may have agreed the so-called fiscal compact which will require them to balance their budgets and cut their debts. But no sooner had the deal been signed than Spain varied its fiscal targets. Italy has followed up by saying it won’t react to a deeper than expected recession by pushing through more cuts - a policy that would just lead to further recession.

Now the Dutch government, previously the high priest of austerity, has found it cannot push through its own budget cuts. Meanwhile, Francois Hollande has promised to push for a more growth-orientated policy if he wins the French election. The austerity consensus is fraying.

Finally, consider banking policy. The intertwining of lenders and their states is unhealthy. Banks which get into trouble need to be bailed out. That makes their governments less creditworthy which, in turn, further infects banks which loaded up on their bonds. That occurred in Ireland and could be repeated in Spain.

The IMF’s proposal is to sever this incestuous relationship by getting the euro zone to put money directly into troubled banks rather than by lending to governments which, in turn, would inject capital into the banks. Such a policy would be matched by euro zone-wide supervision of banks.

The idea is rational. That, of course, doesn’t mean that it will be adopted.

But with an expanded warchest, the IMF has greater ability to be heard on this and other issues - especially if it keeps reminding the euro zone that the rest of the world has insisted that strings are attached before any more countries are given bailouts.

Hugo Dixon is a Reuters columnist. The opinions expressed are his own.

FILE- People shop at the Nike boutique at the Sony Ericsson Open tennis tournament in Key Biscayne, Florida in this March 20, 2012. (Reuters) Kristen Gucwa MyUS.com

M

yUS.com, the leader in international package forwarding and shipping, has become the go-to resource for international consumers looking for the latest and greatest on-trend items in the USA. A recent study by popular men’s magazine GQ revealed that American-made brands are making a comeback in popularity worldwide.

While international consumers have typically sought out goods at USA retailers for their lower cost compared to the same item in their respective country, now consumers are seeking out trends for a different reason. Brands such as Levi-Strauss, L.L. Bean and Alden are becoming a hit with overseas buyers. Consumers from throughout Canada, Europe, Asia and Australia are acquiring USA addresses with MyUS. com to have items from these retailers shipped direct to their door.

“Since our inception in 1997, our most popular items coming through our warehouse have been consumer electronics and high-priced fashions that can be purchased globally but at a cheaper price in the US. It has been interesting to see such an increase in American fashion brands coming through our doors,” says John Wright,Vice President of Sales and Market-

MyUS.com prides itself on offering the best customer service whether through email, live chat or on social media. ing of MyUS.com. “We are happy to be the company that the international consumer relies on to get them the goods that they seek,” continued Mr. Wright.

MyUS.com prides itself on offering the best customer service whether through email, live chat or on social media. Many great services can be found right on their new website.

With the Ship Globally center, customers can review their country’s tax and duty information, shipping and exchange rates, as well as learn which items are prohibited to ship. Their Shop Smarter center allows visitors to do just that by showcasing the Top Stores in the USA for the item they seek, a Price Comparison tool so they can avoid overpaying and a coupon and deal hunter so they can save on purchases.

In addition, the Tips and FAQs section helps people get better acquainted with package forwarding

and a Live Chat tool puts them in immediate contact with a customer service representative.

About MyUS.com: Founded in 1997, MyUS.com is the first, largest and most trusted leader in package forwarding, servicing over 100,000 global consumer and business customers annually. MyUS.com employs shipping experts to handle its customer’s international shipping logistics, package consolidation, export compliance and customs paperwork needs for the 2,000+ packages it receives daily.

Awarded 2012 President’s “E” Award for Exports by the US Department of Commerce, named 2009 Faces Of Trade Award Winner by US Chamber Of Commerce and one of Inc. magazine’s 500/5,000 Fastest Growing Companies in America in 2008, 2009 and 2010, MyUS.com continues to earn national and regional awards and honors from a variety of technology and business development groups.

Cambodia must solve two big problems for takeoff Martin Hutchinson Reuters

C

ambodia must solve two big problems to achieve the kind of rapid, sustained growth Asia’s tiger economies have delivered. Opening its stock exchange on April 18 is a good start - it shows the country is relatively friendly to foreign investors and markets.

But meeting the needs of a rapidly growing population will be expensive, and Cambodia’s corruption is both dreadful and pervasive.

Cambodia’s economic performance, at first glance, looks decent. It is expected by the Asian Development Bank to grow at 6.5 percent in 2012, around the same rate as in 2011. But with Cambodia’s population growing 1.7 percent annually, GDP per capita is increasing at less than five percent.

That means living standards are increasing more slowly than in richer Asian countries like Vietnam,

Solving the problem requires action at the top as well as a clean-up campaign throughout the various layers of state bureaucracy.

India and China.

Feeding, educating and housing ever more Cambodians will be a challenge. Cambodia’s population is increasing faster than the 1.1 percent annual growth in Vietnam and 1.3 percent in India, and will require large additional investments in infrastructure and services before growth can take off. The new stock market might assist at the margins by bringing in more foreign capital; more reliable pension provisions, making large families less of a necessity, would help too.

Corruption is the real enemy. Even for Asia, the country’s property rights are poor, and it ranks with the worst global slums on Transparency International’s Corruption Perceptions Index.

The World Bank has ranked Cambodia one of the most difficult countries in which to start a small

business, in terms of both time and cost. Solving the problem requires action at the top as well as a cleanup campaign throughout the various layers of state bureaucracy.

With a new stock exchange, Cambodia is at least showing its willingness to modernize - though in truth it might get better results from bunking up with a nearby major exchange such as Singapore’s. Even this may not bring in the capital needed to deliver rapid growth for a steadily rising number of Cambodians.

If 20-year ruler Hun Sen wants to secure that sort of legacy, getting rid of graft must be the top priority.

The author is a Reuters columnist. The opinions expressed are his own.

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I am an MBA holder with more then 23 years experience in Accounting, Analysis, and Business development. Responsibilities in India & Kuwait, now I am looking part time job after 6 pm from Sunday to Thursday, Friday & Saturdays full day free, if any suitable vacancies for me please contact 55710397.

Learn Arabic For foreigners to learn Arabic easily.

Contact: 66972388

SLR

Packing and moving services.

06-03/06-04

Required Sales person for men’s textiles shop with sales experience (speaks Arabic). Salary KD 160 + commission.

Tel: 66970789

Tel:65599091

SLR

24-01/24-02

Laptops rent,

Seeking qualified female Nail Technicians of Filipino Nationality. If interested please contact 99030565 or 25319812.

Tel: 66644270

16-01/16-02

Required sales person with knowledge of using the computer. Tel:66292269

SLR

Egyptian babysitter, baby sit kids from 1 years old to 4.

Tel:94996159

Required chef for Lebanese restaurant. Tel: 6509292697686366

SLR

Apartment in Abdullah Al Ahmad, 3 bedrooms, 2 bathrooms, living room and kitchen.

Tel:90958689.

Cars

30-01/30-02

Those interested can call: 97932925

Tel:97601745

Apartment in Salmiya, 2 bedrooms, 3 bathrooms, maid room, living room and kitchen, KD400.

Tel:67004704

Cars

Nissan Altima Tel:94915050

25/12 - 25-02

Super deluxe furniture apartment in Salmiya, 2 rooms, 2 baths, living room, kitchen and laundry room, KD500.Tel:25352200

Apartment in Hawalli, duplex furnished, great location, 2 master rooms, kitchen, living.

Tel: 97720081

Apartment in Manqaf, private entrance, 3 bedrooms, 3

Arabic Teacher

contact Mr. Khaled Ph: 99619998 & 55619998

FOR RENT

Deluxe villa for rent in Egila, strategic location located around 3 streets, 2 floors, 7 bedrooms and 5 bathrooms, 4 living rooms + 2 kitchens and 2 gardens. Tel: 55969322

FOR SALE

Work/Employment

FOR RENT

Room available only for Filipino, single lady near Kuwait National English School, Hawally. Accessible to bus going to City and Sharq. New building with Pinoy TV Channel and large sala & dining area. Tel: 97197268

Investors looking to take advantage of EB-5 Investor Program to obtain US Citizenship, Investing US$ 500,000 in Approved Regional Center, investors receives “Green Card” within 4 months allowing permanent residency. Fund is placed on real estate investment for 5 years with up to 6% income per year. For appointment call: (965) 66834599, Email: nkoni@ konikonsultants.com / website: www.KoniKonsultants .com

25/12 - 25-01

SLR

TREADMILL excellent condition, high-tech screen, KD 35.

Tel:90989840 Billiard table for sale in great condiditon.Tel:66666168

1. Showcase – from Home Centre (three piece – TV unit, book case and glass case)

Price: KD. 15 each

(All three pieces for KD. 35) 2. Wooden coffee table with 4 drawers (Home Centre) Price: KD. 15 3. Side table with wooden drawers (3 shelves) Price: KD. 6 4. Dark brown three door cupboard with two full length mirrors Price: KD. 30 5. Full length light brown cupboard with mirror Price: KD. 30 6. Wooden shelves Price: 500 fills each 7. Book stand Price: KD. 5 8. Ikea Wooden crib Price: KD. 15 9. Ikea changing table Price KD 8 10. Playpen Price: KD. 5 11. Baby Pram Price: KD. 8 12. Sony Trinitron TV, 29 inches Price: KD. 25 13. Queen size bed (includes mattress) Price: KD. 30 14. Wooden Master bed (King size) Price: KD. 40

(includes mattres)

50kgs Weight lifting set of dumbbells - KD 30 Exercise bench for lifting - KD 25 AB King Pro W/C - KD 15 All the above are as good as new.

16-04/16-05

28-02/28-03

Serious buyers please contact 67002524

Tel: 9769364

WDLR

Items for sale

Tel: 93399180

Satellite service, 24hours, covers all area.

16-04/16-05

Driving Instructors available for learners

Birthdays and weddings

Satellite

Boston whalev super sport 150 boat.Tel:65880918

Contact: 67009278

02-04/02-05

EB-5 Investor Program

Pictures and Information of all items available upon request...!!!

Events planner

16-04/16-05

miscellaneous

Senior Manager available in Furniture, General Trading, FMCG, Air & Sea Freight Forwarding, Retails, Wholesales.

Can suggest acquiring profitably running Cash businesses with line-of-products.

Please Call: 9983 4436

24-04/24-05

Please contact Mr. Sabir, mobile 99509163

Tel: 60091481

30 years experienced

Exercise equipments for sale

GMC Yukon 1999, spacious and clean. KD 1700, price is negotiable. Tel:66694310 Nissan Maxima 2008, 6VS, KD 3200. Tel: 99997494 Nissan Maxima KD1500. Tel: 66565511

2004,

WDLR

Carpool service, female driver covers all Kuwait areas.

Website designer and management

Tel:60361977

SLR

Sewer system cleaning.

Tel:66070166

Tel:66238890

SLR

Paints and wallpapers.

SLR

Baraka: Tel: 99881053

SLR

China cuts Iran oil imports in March most this year

BUSINESS

tuesdAY, april 24, 2012

m ar ket watc h KUWAIT 0.38% 6327

DUBAI

QATAR

OMAN

0.6% 1641

0.1% 8693

0.2% 5959

ABU DHABI

OIL MARKETS BAHRAIN 0.5% 1151

0.14% 2499

CAPITALS: China halved its Iranian crude imports in March compared with a year earlier due to disputes over contract terms, its deepest cut so far this year as Western sanctions complicate Tehran’s oil exports.

South Korea cut its imports by 40 percent in March from a year earlier, official data showed, as it sought to secure an exemption from US sanctions. Japan, which has secured a waiver, made steep cuts in April imports.

EGYPT 2.8% 4949

SAUDI

0.7% 7525

US Crude $102.19 $1.69 London Brent $117.47 $1.29 Kuwait Crude $116.08 $0.02 Information Courtesy: KAMCO

CURRENCIES US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.278 Sell 0.2782 Buy 0.365 Sell 0.3654

Buy 0.4471 Sell 0.4475

Buy 0.003427 Sell 0.003431

Buy 0.07568 Sell 0.07574

Buy 0.07641 Sell 0.07633 Buy 0.7373 Sell 0.73792

Buy 0.005304 Sell 0.005298 Buy 0.006517 Sell 0.006504

In Focus

Pasty Times

High oil prices, sluggish spending to generate record budget surplus

Savio S. Gomes Exclusive to Al Watan Daily

Compiled by Al Watan Daily

K

A trader stands under screens at the Madrid bourse April 23, 2012. Spain’s benchmark index IBEX tumbles 3.3 percent to 6,811.2 points, a level last seen in the heat of the financial crisis in 2009, dragged by mounting fears over the country’s ability to deal with its debt as the slips into recession.

(Reuters)

According to the brief, total revenues were KD 26.8 billion, up 44 percent y-o-y. High oil prices have buoyed revenues for FY 2011-2012 as the average oil price for the 11-month period was almost 109 US dollars per barrel, up 36 percent y-o-y. Oil revenues accounted for 95 percent of total revenues 11 months into the fiscal year.

Non-oil revenues reached KD 1.4 billion, up 20 percent y-o-y. The increase originated from miscellaneous revenues and fees, which is likely related to compensa-

Kuwait bourse targets derivatives, transparency

KUWAIT: Kuwait Stock Exchange (KSE) will clamp down on trading “misbehavior” and offer investors a fairer playing field in the biggest overhaul of its trading system in nearly two decades, a senior bourse official said on Monday.

The exchange plans to introduce the “X-stream” trading system on May 13, backed by The Nasdaq OMX Group Inc. It will pave the way for trade in financial instruments such as Islamic bonds and exchange-traded funds (ETFs). It will also keep a closer eye on possible cases of insider trading or price manipulation using an integrated surveillance system.

“I hope that in the first quarter of next year we will switch on the derivatives part of the X-stream system.We will start with Kuwaiti derivatives,” Kuwait Stock Exchange Projects Manager Issam Alusaimi told Reuters in an interview. The “Kuwaiti derivatives” include futures and options now traded on third-party systems. International products such as Islamic bonds and ETFs will be introduced later, he said. One of the aims of the new platform, which cost around 18.3 million Kuwaiti dinars (65.6 million US dollars), is to stamp out dubious practices in one of the region’s oldest exchanges. A surveillance system will collect real-time data and analyze it for any signs of wrongdoing.

“In every exchange there is always misbehavior of traders, whether it is based on insider information, or speculation... Every country has unique players. We are going to tune our surveillance system to catch the Kuwaiti behaviour,” Alusaimi said.

The new platform will scrap the lots system, allowing investors to trade as little as one share at a time rather than being forced to make bulk orders and leveling the field, he said. It will also adopt an auction for closing prices.

Investors will be able to place orders for up to 90 days in the future rather than requiring trades to be executed on the same day. The new system will open up the exchange for greater trade capacity and Alusaimi said he hoped the platform would enliven trade. The exchange sometimes only sees 3,000-4,000 trades a session while 27,000 is a top day, Alusaimi said.

“We have to put a projection over five years. We do not want to run out of gas after one year... This is in anticipation of increased trading after we do away with the lots,” he said.

Blue-chip index

Buy 0.0741 Sell 0.0742

Prices in Kuwaiti fils as of April 23, 2012 Courtesy: KAMCO

Kuwait’s budget surplus stands at KD 16 billion KUWAIT: Kuwait’s public finances data for February, the 11th month of fiscal year (FY) 2011-2012, show a year-on-year (y-o-y) decline in government spending, according to a specialized report prepared by the National Bank of Kuwait (NBK).According to the economic brief, this is largely due to last year’s one-time Amiri grant, which was disbursed in February 2011. Government revenues, however, continue to grow strongly due to high oil prices. This will likely result in a record budget surplus for the year, which would be the country’s 13th surplus in a row, stated the report.

According to the brief, total government spending reached 10.8 billion Kuwaiti dinars in the first 11 months, a small one percent decline compared to the same period of the previous year. Admittedly, this was skewed by the impact of the Amiri grant - without which spending would have increased 10 percent y-o-y. Nevertheless, the underlying spending pace is still disappointing. For the 11 months period of FY 2011/12, 56 percent of budget had been spent, compared to 64 percent for the historic average in the comparable period.

Current spending was almost unchanged y-o-y, standing at KD 9.7 billion. A KD 449 million increase in wages and salaries spending was offset by a decrease in miscellaneous expenditures and transfers. The decrease in the latter was due to the Amiri grant mentioned above. Current spending was 59 percent of the full year budget, also below its historic average of 68 percent.

Meanwhile, Capital spending was down 14 percent y-o-y, reaching one billion Kuwaiti dinars, 11 months in. Spending in this category is still lagging at 38 percent of budget, compared to a 43 percent historic average.

The report highlighted that the capital-spending pace was projected to pickup, as this is the second year of the development plan and more projects should have materialized. The expected increase may still be realized, but not until the closing figures for the fiscal year are released.

See page 10

The stock exchange, which the government plans to privatize, will also introduce a blue-chip index of 15 top companies based on trade volume or market capitalization.

Kuwait is home to some of the largest investment groups in the Gulf region such as Kuwait Projects Company (KIPCO) and Global Investment House. The bourse suffered heavy losses during the global financial crisis spurring the introduction of a market watchdog, which has recently ordered several companies to delist after they failed to report earnings on time.

Starting as a fledgling, unregulated market in the 1960s, the exchange was formally set up in 1984 and introduced its first trading electronic system in 1995. The new X-stream platform is the biggest change since then. Users will also get access to data via a subscription-based website rather than having to rely on the old internal system or telephones.

“The 1995 system was matching the requirements of that time - now it has to change,” Alusaimi said. -Reuters

tion payments from the United Nations Compensation Commission (UNCC).

The report stated that 11 months into FY 20112012, Kuwait’s budget surplus stood at KD 16 billion - 36 percent of 2011 gross domestic product (GDP). The report maintained the view that the final figure is likely to be smaller, as spending typically accelerates late in the year. It was forecasted that there would be a KD 1112 billion surplus for FY 2011-2012 , which would still be 22 percent of GDP.

KSE ends trading with 23.7 point gain

KUWAIT: Trading ended at Kuwait Stock Exchange (KSE) Monday on a mixed board, though main indices were green. The price index gained 23.7 points to reach 6,326.6 points, while the weighted index came to 420.46 points on a gain of 0.46 points.

Trades came to 5,352 spot transactions worth 35,211,530 Kuwaiti dinars, with 528,507,500 shares changing hands till end of session. As for

sector indices, there were five readings in green and three in red. Top gainer sector was services which put on 84.8 index points, while biggest loser was banking on a down of 51.8 index points.

Top share for the day was that of Kuwait Syrian Holding Company, while biggest loser was the Flex Resorts and Real Estate stock. Top-volume share was that of Investors Holding Group Company, for the second day in a row. -KUNA

WTO projects global trade to grow at 3.7% 2012 DOHA: World Trade Organization’s (WTO) deputy Director General Valentine Sedanyoye Rugwabiza said Sunday global trade was projected to grow at only 3.7 percent in 2012 compared to five percent last year. Addressing the UNCTAD XIII Conference, Rugwabiza said global balance of power was changing and the family of nations was struggling to develop joint responses to challenges affecting them all.

However, it was not the time for excessive pessimism as some recovery was being seen, she said.

While much more remained to be done, developing countries would likely account for more than half of global trade in 2012, and improvements had been seen in basic health and nutrition in many places around the world, she added.

Though trade was a substantial part of growth, it did not work in isolation, Rugwabiza said.

“Trade cannot deliver alone, but there is no possible growth without trade” as a central part of any development strategy, she said.

Meanwhile, President of the Inter-Parliamentary Union (IPU) Abdulwahed Al-Radhi said the Arab Spring helped understand the strategies that should be adopted as well as risks and weaknesses of economic and social policies around the world.

Addressing a session of UNCTAD, Al-Radhi said good governance should have rules in politics, law and administration which encouraged development, protect human rights and give individuals freedom of contribution to decision-making.

He said experience has proven that even most prestigious democracies could suffer from “democratic deficit” when it came to supervision and running the economy. -KUNA

UWAIT: Britain’s recent budget included a tax on hot takeaway food. Hot food from bakeries and supermarkets are likely to lose the exemption from the twenty percent value added tax on sales. The tax was quickly dubbed the ‘pasty’ tax, after the popular pastry from Cornwall. The relatively low cost pasty and its brethren the sausage rolls are consumed heartily by customers feeling the pinch of the recession. It did not help matters that the chancellor, having introduced the tax could not recollect his last purchase of a pasty and the prime minister probably bought one more than five years back. The pasty tax has given a fillip to the opposition party in the UK and underlined the difference between what people at the two ends of the income scale eat in the UK. Marks and Spencer has the credit of carrying an appeal over the rate of taxes on teacakes for over ten years and, ‘Pastygate’ is likely to run for a while. Hunger Games, meanwhile shows promise of developing into an extremely profitable film franchise. The film has grossed record returns for Lions Gate Entertainment and JP Morgan estimates that the series could deliver profits of over one billion dollars.

Matson and Elliott Handler founded the toy company Mattel in 1945. Ruth Handler (Elliott’s wife) later established the Barbie doll product line in 1959. Mattel Inc. produces Barbie dolls, Hot Wheels, Matchbox toys, Masters of the Universe and board games among many other toys and games product lines. Mattel makes products that parents feel compelled to buy even when on a tight budget and, Mattel in short is recession proof. Gross margins at Mattel are almost fifty percent and overheads are controlled. In the past five years since 2007, Mattel shares have returned a phenomenal 84 percent. Parents, while buying Mattel toys, should probably buy Mattel shares for the college fund, as well, or maybe instead.

Another company with exceptional survival skills is Johnson & Johnson (‘J&J’). Johnson & Johnson has been around since 1886 with a diversified product mix that includes medications, consumer products, orthopedic devices and iconic brands such as Band - Aid, Tylenol, Neutrogena, Benadryl, Listerine and baby products. Johnson & Johnson recently made news after the disclosure that the outgoing chief executive officer will be given a retirement compensation package of around 140 million US dollars. In the ten years that William Weldon led Johnson & Johnson, revenue grew from $36 billion to $ 65 billion a year and cash flows more than doubled. J&J is simply recession proof with a product portfolio that has proven to be ideally defensive through turbulent financial markets.

Peer to Peer (‘P2P’) lending is growing around the world, in the US, China, UK, India, Germany and other countries.

P2P lending has gained impetus as banks and even venture capitalists are increasingly risk averse. Individuals and entities with cash are, on the other hand seeking better returns from investments that are graded by traditional lenders as risky. Some P2P outfits sometimes offer funding participants up to eight times more than the usual bank deposit rates. Social lending is a product of the internet platforms and popular P2P companies are Funding Circle, RateSetter and Zopa (UK), Prosper and Zidisha (US), P2P Financial (Canada). P2P loans have funded small businesses, mortgage payments, student loans, and consolidation of existing debts. Social lending could be direct or pooled, secure or unsecured, and services offered include loan origination and servicing (documentation, payment schedules, collections, fund transfers etc.). The problem of default is covered by a quasi insurance scheme - some firms require each borrower to contribute regularly to a default provision fund, intended to compensate lenders when borrowers default. Social lending based on inter personal networking is working to fill the cracks in a broken financial system.

The views expressed above are the writer’s own. Savio is a financial and management advisor with a background in economics. He has carried outconsulting and management intervention projects in several countries such as USA, UK, Australia, Kenya, Armenia, Kuwait, Saudi Arabia etc.

The writer may be contacted on saviosgomes@gmail.com.

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

Etisalat Q1 profit flat, foreign revenues jump DUBAI: Etisalat, the Gulf Arab region’s No. 2 telecom operator, reported flat quarterly profit that beat estimates as rising international revenue offset declines at home.

Abu Dhabi-based Etisalat, which posted falling profit in seven of the previous eight quarters, made a first-quarter net profit of 1.81 billion UAE dirhams (493 million US dollars), compared with a forecast for 1.7 billion in a Reuters poll.

Etisalat, 60-percent owned by the government and which operates in 17 countries across the Middle East, Africa and Asia, said international revenue was 2.28 billion dirhams, up 21 percent.

An improved performance by Egyptian unit Etisalat Misr, which suffered during unrest last year that ended former president Hosni Mubarak’s 30-year rule, likely helped the operator which did not break down its earnings by

country.

“That is a large part of Etisalat’s foreign operations,” said a regional telecoms analyst who asked not to be identified.

“The situation in Egypt has improved and so Etisalat Misr is picking up. If you look at the past four quarters, international operations have provided about a quarter of total revenue.”

The contribution of Etisalat’s foreign operations is likely to remain around that level in the near term, the analyst said, after the firm announced its withdrawal from India in the wake of a 2G license scandal.

“International could eventually inch up to 28 to 30 percent, but it will be a slow process - we’re not looking at 2 percent gains each quarter,” said the analyst.

Etisalat’s international gains helped first-quarter total

revenue rise two percent to 8.2 billion dirhams, offsetting a 2.6 percent drop in domestic revenue to 6.09 billion dirhams.

The company’s profits have slid as rival operator du, which ended Etisalat’s domestic monopoly in 2007, won market share and Internet-based phone calls hit the highmargin international calls business.

Dubai-based du now claims 46 percent of United Arab Emirates (UAE) mobile subscribers and its rapid rise may have prompted a shake-up of Etisalat’s senior management.

In the past year, Etisalat has appointed a new group chief executive, chief financial officer and chief strategy officer, while Saleh Al-Abdooli became chief executive of its UAE operations in February, having held the same post at Etisalat Misr. -Reuters

10

ALWATAN DAILY

BUSINESS

tuesDAY, april 24, 2012

China cuts Iran oil imports in March most this year CAPITALS: China halved its Iranian crude imports in March compared with a year earlier due to disputes over contract terms, its deepest cut so far this year as Western sanctions complicate Tehran’s oil exports.

South Korea cut its imports by 40 percent in March from a year earlier, official data showed, as it sought to secure an exemption from US sanctions. Japan, which has secured a waiver, made steep cuts in April imports.

Iran traditionally sells most of its oil exports to Asia, where China, India, Japan and South Korea are the biggest buyers. Exports were 2.3 million barrels per day (bpd) in the Iranian year to March 19.

As the sanctions intensified, Gulf Arab exporters including Saudi Arabia, Kuwait and the United Arab Emirates boosted their exports to the region.

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

Until recently, China was Iran’s top customer, taking more than 20 percent of its crude exports.

But China’s state oil buyers have decreased their purchases since the start of the year as they haggled with the National Iranian Oil Corporation (NIOC) over prices and terms.

In the first quarter of this year, China’s crude imports from Iran were a third lower at 346,183 bpd compared to a year earlier, customs data showed, mainly because the staterun China Petroleum & Chemical Corp (Sinopec) slashed purchases by 285,000 bpd, or just over half of the amount it imported daily in 2011.

China cut its oil imports from Iran five percent year-onyear in January and 40 percent year-on-year in February.

March imports dropped 54 percent to 253,302 bpd, customs data showed.

“The drop in Iran crude imports in March is largely in line with what we were expecting. We may still see some

Oil slides below $118 on euro zone worries

LONDON: Oil fell below 118 US dollars a barrel on Monday, pressured by concern over the euro zone debt crisis, although supply worries due to tightening Western sanctions on Iran checked the slide.

The outlook for Europe’s economy worsened in April, raising the likelihood that oil consumption will slow. Fresh data for Germany, France and the euro zone showed a much faster rate of economic contraction than had been expected.

The wobbly financial state of big euro zone economies such as Spain and Italy has unsettled markets, despite signs at the start of the year that Europe’s long-running debt crisis was easing.

Brent crude dropped $1.01 to $117.75 a barrel by 1103 GMT, while US crude was down 83 US cents at $103.05.

Analysts say world oil markets may be poised for a downward correction.

The United States and Europe have imposed sanctions on Iran aimed at halting its controversial nuclear program by choking off its oil export revenues. Iranian oil officials say crude exports have slipped to 2.1 million barrels per day (bpd), compared with an average 2.3 million bpd in the last Iranian year that ended on March 19.

At a Group of 20 finance ministers’ meeting in the United States last week, officials agreed to watch oil prices closely and carry out “additional actions” as needed.

Tightening sanctions on Iran helped send Brent above $128 a barrel in March, the highest since 2008.

The European Union is also planning an embargo on Iranian oil imports from July 1. While a review is possible in the next two months, there is no economic reason now to change plans for the ban, a senior EU official said on Friday.

-Reuters

FILE - In this Monday, March 26, 2012 photo, a worker operates the pump at a PetroChina gas station in Suining in southwestern China’s Sichuan province. China halved its Iranian crude imports in March compared with a year earlier due to disputes over contract terms, its deepest cut so far this year as Western sanctions complicate Tehran’s oil exports. (AP)

cuts in Iranian crude imports in April customs data as most of April-arrival cargoes were loaded in March,” said a crude trader with a Western oil trading company.

EU measures against Iran ban Europe’s insurers, the pro-

viders of around 90 percent of the world’s tanker insurance, from giving cover to Iranian oil exports anywhere in the world, which has added to the difficulties most nations face in importing Iranian oil.

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

As the pressure intensifies on Iran, its Gulf Arab neighbors and Russia have gained more customers, with both China and South Korea increasing their purchases from these alternative sources by more than what they cut from Iran.

South Korea, Iran’s fourth-largest buyer, reduced its imports from Iran by 22 percent to 195,000 bpd in the first three months of the year, data from state-run Korea National Oil Corporation showed.

It sourced 86 percent of its total crude imports in the first three months of this year from the Middle East - mainly Saudi Arabia, Kuwait, Qatar, the United Arab Emirates (UAE) and Iran - up from 84 percent a year earlier, the data showed.

China also increased its oil purchases from Russia, Kuwait, and the United Arab Emirates in March by between 79 percent and 50 percent compared to the same month a year ago. It reduced its oil imports from top exporter Saudi Arabia, however, by a marginal nine percent yearon-year.

It was not clear if China would maintain the depth of its import cuts in April.

But industry sources in South Korea said they expected imports next month would be reduced by between 10-20 percent - an amount they said was enough to secure the US waiver - as March’s reduction was unusually deep due to the shutdown of the 240,000-bpd SK Energy refinery and customs delays on crude shipments.

“Refiners are reducing Iranian crude oil imports within the range they can, but I don’t think they will carry on reducing by as much as 40 percent,” an economy ministry official said. -Reuters

Egypt cancels gas deal with Israel Siemens signs energy service deal for Iraq’s largest power plant JERUSALEM: Egyptian energy companies, citing a trade dispute, have terminated a deal to supply Israel with natural gas in a step that may further erode bilateral ties strained by a popular revolt that toppled Egypt’s pro-Israeli leader last year.

An Israeli partner in the business made the step public on Sunday but an Egyptian firm said the decision to cancel the deal had been made on Thursday.

Israel, which relies on Egypt for 40 percent of its natural gas supply, worried about facing further energy cuts after a series of sabotage attacks on the pipeline running through the volatile Sinai peninsula contributed to shortages.

Israeli Finance Minister Yuval Steinitz expressed “great concern” about the suspension, saying it had set “a dangerous precedent which casts a shadow on the peace agreements and the peaceful atmosphere between Egypt and Israel”.

Egypt was the first of two Arab countries to sign a peace treaty with Israel, in 1979, followed by Jordan in 1994.

The Egyptian decision was announced in Israel by Ampal-American Israel Corporation, partner in the East Mediterranean Gas Company (EMG), which operates a cross-border pipeline supplying gas to Israel.

Ampal said the Egyptian General Petroleum Corporation and Egyptian Natural Gas Holding Company had told EMG they were “terminating the gas and purchase agreement”.

The company gave no reasons for the Egyptian decision but said legal redress was under consideration.

“EMG considers the termination attempt unlawful and in bad faith, and consequently demanded its withdrawal,” Ampal said in a written statement.

Egyptian firm confirms decision

Mohamed Shoeib, chairman of the Egyptian company EGAS, confirmed the decision, saying the 20-year-old deal with Israel had been terminated on Thursday.

Shoeib told Egypt’s Hayat TV that “EGAS ended the deal because the other party didn’t fulfill its commitments”.

The Egyptian decision followed a dispute over damages caused by a series of blasts on the pipeline supplying Israel, via the Sinai desert region on its border where lawlessness has risen since President Hosni Mubarak’s overthrow in 2011.

Explosions have caused extensive disruptions in service in the past year, and Israel has warned residents to expect electricity outages in high demand summer months, and that it needed to speed up efforts to seek alternative supply lines.

Ampal and two other companies have been seeking eight billion US dollars in damages from Egypt for not safeguarding their investment against the pipeline blasts.

It said EMG “initiated arbitration” against EGPC and EGAS last October, accusing the Egyptian firms of a “longstanding failure to supply the gas quantities owed”.

Ampal said in its statement on Sunday that in light of the cancellation, EMG, Ampal and EMG’s other international shareholders were “considering their options and legal remedies as well as approaching the various governments” concerned.

Shoeib denied the decision bore any diplomatic significance. “It is a trade dispute not a political issue,” he said.

Israel had to evacuate embassy staff in Cairo after riots there in September, an incident that highlighted threats to relations, though a new ambassador has since taken up residence in the Egyptian capital. -Reuters

Wins substation orders

CAPITALS: Siemens Energy has secured a follow up order from the Ministry of Electricity in Iraq to supply the control and instrumentation system, field equipment and steam turbine generator spare parts for Iraq’s largest power plant, Al Mussaib. Upon completion in 2013, the plant will have improved output, increased efficiency and will provide reliable power to help meet the rising electricity demand for the people of Iraq. The scope of supply includes new rotating elements for the four 320-megawatt (MW) steam turbines, generator rotors and the complete instrumentation and controls system. The latest order follows the successful rehabilitation of the control system in unit 2 in 2009 and unit 1 in 2010. This was mentioned in a press release on Monday. The current installed energy capacity in Iraq is challenged to meet the growing power demand in the country and to provide predictable reliability. Therefore, improvements at the Al Mussaib plant and the installation of new substations in the country are crucial to help ensure that the growing demand is addressed in a timely and costeffective manner.

“Iraq is facing acute and critical challenges in providing reliable power to all the country’s residents and Siemens is fully committed to assisting the Ministry of Electricity in meeting those challenges,” said Dietmar Siersdorfer, Chief Executive Officer (CEO), Siemens Energy, Middle East. “We have a long history in Iraq and the wider Middle East, and understand that this is an issue of utmost importance to the Ministry and the

people of Iraq.With our complete portfolio of proven products and service solutions, we are well-positioned to address this issue.”

In addition to the latest order for Al Mussaib power station, Siemens also performed the renovation of the control system in the Al Hartha power station near Basrah in 2010, which was destroyed by a fire. The replacement was done in close cooperation with the station staff and unit 1 was brought back into operation in record time. The renovation of the control systems for units 2 and 3 was also awarded to Siemens.

Siemens further assisted with Iraq’s rehabilitation program of steam power stations by supplying major boiler equipment for the Daura power plant near Baghdad in 2008.

On the two gas power plants of Kirkuk and Baiji, Siemens was appointed to perform extensive maintenance of the gas turbines and generators. The activities on the gas turbine and generator in the Kirkuk plant were successfully completed in March 2012, while the overhaul of the gas turbines at Baiji is ongoing and planned to be completed before the peak season in summer.

Siemens has also signed two separate contracts with Iraq’s Ministry of Electricity for gas-insulated switchgear (GIS) substations as part of the ministry’s plans to upgrade its 132-kV power transmission network. Under the first contract, Siemens will supply and carry out civil and supervision works on six 132/33-kV GIS substations at various locations in the country. The second contract covers the construction of another six 132/33-kV GIS substations on a turnkey basis in Iraq.

The contracts for the substations are due to be completed by October 2013.

Tourism Germany promotes ‘Dallal Fi Almania 2012’ 1.7 million tourists from the GCC travelled to Germany in 2011, 25% were from Kuwait Ricky Laxa Staff Writer

KUWAIT: Tourism Germany ‘Dallal Fi Alamania’ (Feel good in Germany), themed this year that focuses on offers for families holiday packages was launched Sunday evening at the Missoni Hotel in the presence of the German Envoy Frank Mann and representatives from hotels, airlines and destinations in Germany. In a power point presentation, Director of the Marketing and Sales Office of the German National Tourist Office (GNTO) in the Gulf region Antje Roeding-Boudier presented specific points highlighting the event’s details. In addition, Roeding-Boudier presented the team to the public, a brief remarks was delivered by Ambassador Mann.

In an exclusive interview with Roeding-Boudier, she told Al Watan Daily that the road show is a vivid proof of how Germany values its tourists from Kuwait and the region and that their presence attest s the growing number of tourist form the region and in particular Kuwait. “Given the familyoriented demand characterizing this important region, the GNTO and its partners aimed at providing with this year’s workshop theme a more detailed view on the multitude of offers that make Germany the ideal holiday destination for Arab families,” Roeding-Boudier explained.

To add, Roeding-Boudier said that the Gulf Cooperation Council (GCC) countries continue to grow as major market for the German tourism sector, and based from the German Federal Statistical Office, the 2011 data concerning travelers from the GCC countries reached a new record and outdid for the first time the mark of one million overnight stays. The total number of 1,006,856 overnight stays of GCC nationals in Germany describes an increase of four per cent as compared to 2010. Moreover, Germany

Ambassador of the Federal Republic of Germany to Kuwait, Frank M. Mann and the German partners during the launch of Dallal Fi Almania (Al Watan Daily)

regularly confirms as GCC travelers’ second most visited European destination. The great results of the previous years are expected to repeat in 2012 since an impressive raise of 17.8 per cent was registered for January 2012 as compared to the same month in 2011. In total, twenty partners, representing different sectors of the tourism industry in Germany, supported the realization of the road show ‘Dallal fi Almania’ 2012. In light of the continuously expanding popularity of Germany as tourist destination for families from the GCC countries, the guests from the Arabian Gulf’s travel industry and media enthusiastically took part in the road show. The activities, held by the institutional and tourism representatives arrived from Ger-

many, include discussions, exchanges as well as one-to-one workshop sessions. The extensive networking opportunities and the informative dialogue established between the German and Arab counterparts continue to be the most appreciated aspects of this successful promotional tool created by GNTO. Showcasing Germany’s diversified tourist offers across the Arabian Gulf is part of the GNTO’s strategy for directly engaging the GCC travel industry in the region. Particularly relevant is the Germany Travel Mart (GTM), the largest workshop for incoming tourism to Germany, which in 2012 will be held in Leipzig from May 13-15 of. In occasion of this event, the GNTO in the Gulf region will be joined by

17 hosted buyers and media representatives from Kuwait, Saudi Arabia and the United Arab Emirates (UAE).

Director of Tourism Marketing Stephanie Herbrich added that the Gulf countries are major markets for Germany and that Kuwait is fast increasing its numbers on traveling to Germany. “Germany is contrary to what many travelers think, it is not expensive and very much affordable. It is safe for tourists, the environment is clean and ideal for families.

We provide the best of fusions of so many places to visit.

The more you visit Germany, the more you love the country and during your stay, don’t miss Dusseldorf, a real treat for tourists,” concluded Herbrich. The next stops of the fourday tour include Doha, Abu Dhabi and Dubai.

value dropped 4 per QAR0.34 5.7 per bn (USD bn); trades perand cent to 84,284. declined by 0.75 percent centtoand cent to1.56 QAR 184.7 bn increased (USD 50.721bn) QAR 10.7 bn Volatility during while the month to 6.07and perservices cent, closer Dec-11 levels.

In cent March, (USD 3 decreased bn), respectively, the industrial sectorstoincreased 1.96 per and aggregate market capitalization increased per179.7 cent bn to (USD QAR 49.4 468.6 (USD 128.7 bn) 8.23 per cent to QAR 93.5 bn (USD 25.7 bn)3.09 to QAR bn),bnrespectively. compared to QAR 454.6 bn (USD 124.9 bn); the banking & finance and the insurance sectors declined by month, 0.75 perQatar cent Exchange and 0.34 per to QAR the 184.7 bn (USD 50.7 bn)ofand bn During the (QE)cent announced launch of a number newQAR equity10.7 indices (USD 3 bn), respectively, the industrial services sectors increased centreturn and to complement the existingwhile QE Index.

The newand indices will be live from April 1, 1.96 2012.per A total 8.23 per cent to QAR 93.5 bnwill (USD bn) to QAR bn (USD 49.4 bn), respectively. version of the QE index be 25.7 disseminated in 179.7 real-time; measuring price performance and

BUSINESS

needs of information technology on which basis the Ministry of Economy and Finance prepares its budget, budget, itit has has been been resolved resolved to to approve approve the the proposal proposal made made by by the the Ministry Ministry of of Economy Economy and and Finance on postponing the sanctioning of the budget for the year 2012/2013 to end Finance on postponing the sanctioning of the budget for the year 2012/2013 to end June June this this year year instead instead of of the the beginning beginning of of April.

April. However, However, the the budget budget for for the the current current year year shall shall continue continue to to be be in in force force until until an an Emiri Emiri Decision Decision is is issued issued on on the the new new budget. budget.

QE Most Active Stocks for March-2012 QE Most Active Stocks for March-2012 ALWATAN DAILY

income from dividends, thus representing the total return earned in a portfolio tracking the

During the month, Qatar QE Exchange announced the launch of a number new equity indices underlying price index. will also(QE) introduce All Share and sector indices, of a series that provides to complement the existing QE Index. The new indices will be live from April 1, 2012. A total return investors with an overall market benchmark and enhanced tools to evaluate sector performance in version of the QE index will be disseminated in real-time; measuring price performance and real-time. In line with the industry sector indices, statistical and trading reports at Qatar Exchange income from dividends, thus representing the total return earned in a portfolio tracking the will reflectprice 7 primary 1) Banks &Financial Services; 2) Industrials; Transportation; underlying index. sectors: QE will also introduce All Share and sector indices, a 3) series that provides4) Real Estate; 5) Insurance; 6) Telecoms; 7) Consumer Goods & Services.

The new sector investors with an overall market benchmark and enhanced tools to evaluate sector performance in classification is based on industry standards and best practices. real-time. In line with the industry sector indices, statistical and trading reports at Qatar Exchange will reflect 7 primary sectors: 1) Banks &Financial Services; 2) Industrials; 3) Transportation; 4) QE 20Estate; Index 52 Performance Relative to7)Volume Real 5)Week Insurance; 6) Telecoms; Consumer Goods & Services. The new sector classification is based on industry standards and best practices.

Volume Volume (000 Shares) (000 Shares) TUESDAY, APRIL 27,989 27,989 27,851 27,851 25,273 25,273 16,248 16,248 13,548 13,548

Qatar Gas Transport Company Qatar Gas Transport Company United Development Co. United Development Co. Mazaya Development Co. Mazaya Development Co. Masraf Al Rayan Masraf Al Rayan Salam International Investment Salam Investment Source:International KAMCO Research

24, 2012

Value (000 Value QAR) (000 QAR) 492,067 492,067 512,889 512,889 240,502 240,502 435,356 435,356 171,371 171,371

11

Close Close (QAR) (QAR) 17.55 17.55 19.57 19.57 9.55 9.55 27.65 27.65 12.88 12.88

Qatar bourse ends Q1 flat despite robust economic growth 9,000

QE 20 Index 52 Week Performance Relative to Volume

50

8,800

The following is a report prepared by Kuwait Projects Company (KIPCO) Asset Management Company (KAMCO) on the performance of the Qatar Exchange (QE) in March 2012. The QE 20 Index was marginally up in March and ended the first quarter (Q1) 2012 flat; despite the favorable business environment and the robust economic growth that is in excess of 14 percent in real terms. Trading indicators were mixed as volume increased 30 percent to 197.3 million shares, while value dropped four percent to 5.7 billion Qatari riyals (1.56 billion US dollars); trades increased 21 percent to 84,284. Volatility decreased during the month to 6.07 percent, closer to December 2011 levels. In March, aggregate market capitalization increased 3.09 percent to 468.6 billion riyals ($128.7 billion) compared to 454.6 billion riyals ($124.9 billion); the banking and finance and the insurance sectors declined by 0.75 percent and 0.34 percent to 184.7 billion riyals ($50.7 billion) and 10.7 billion riyals (three billion dollars), respectively, while the industrial and services sectors increased 1.96 percent and 8.23 percent to 93.5 billion riyals ($25.7 billion) to 179.7 billion riyals ($49.4 billion), respectively.

During the month, Qatar Exchange (QE) announced the launch of a number of new equity indices to complement the existing QE Index. The new indices will be live from April 1, 2012. A total return version of the QE index will be disseminated in real-time; measuring price performance and income from dividends, thus representing the total return earned in a portfolio tracking the underlying price index.

QE will also introduce All Share and sector indices, a series that provides investors with an overall market benchmark and enhanced tools to evaluate sector performance in real-time. In line with the industry sector indices, statistical and trading reports at Qatar Exchange will reflect 7 primary sectors: 1) Banks &Financial Services; 2) Industrials; 3) Transportation; 4) Real Estate; 5) Insurance; 6) Telecoms; 7) Consumer Goods & Services. The new sector classification is based on industry standards and best practices.

In Q1 2012, the bourse underperformed its peers in the Gulf Cooperation Council (GCC) region to end the quarter with a 0.13 percent gain, the second worst performing market after

45

QE 20 Index Value QE 20 Index Value

9,000

55

5040

8,600 8,800

4535 4030

8,400

8,600

3020

155 100

Company

Ÿ

High

Low

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

1,080 440 610 920 280 430 760 600

1,060 435 600 910 275 425 750 590

Kw Investment Commercial Facilit.

Int'L Financial Adv. National Invest.

Kw Projects Ahlia Holding Coast Invest.

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

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

104 260 152 325 62 102 120 35.5 152 53 31 38.0 68 280 39.0 236.0 104.0 73.0 192 265 32.5 66 61 52 112

104 255 148 320 61 100 116 35.0 150 51 30 38.0 65 280 38.0 228.0 102.0 70.0 186 265 32.5 66 58 52 110

-

-

Global Index - Banking

ź

Global Index - Investment

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

-

Global Index - Insurance

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

57 116 144 232 39.0 110 96 1,020 77 20.0 67.0 89 60 70 37.0 86 23.0 46.5 65 65 48.5 39.5 24.0 63 345

Global Index - Real Estate

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

Heavy eng. & Ship.

Marine Services Portland Cement

ŷ ŷ ŷ ź ź ŷ Ÿ ŷ Ÿ

232 122 460 1,240 285 144 880

230 120 460 1,240 285 140 870

-10 -20 5 10 0.34-

29.9.11 29.9.11 13.10.11 13.10.11 27.10.11 27.10.11 10.11.11 10.11.11 24.11.11 24.11.11 8.12.11 8.12.11 22.12.11 22.12.11 5.1.12 5.1.12 19.1.12 19.1.12 2.2.12 2.2.12 16.2.12 16.2.12 1.3.12 1.3.12 15.3.12 15.3.12 29.3.12 29.3.12

1,220 510 800 680 930 285 480 900 600 326.42

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

15.55 37.84 1240.61 18.04 34.13 26.79 13.14 27.47 130.71 19.77

100,000 30,000 1,300,000 630,000 2,200,000 2,660,000 180,000 880,000 9,760,000 3,080,000 8,160,000 80,000 400,000 20,000 9,520,000 3,200,000 3,620,000 10,720,000 520,000 20,000 160,000 120,000 240,000 1,040,000 1,980,000 60,620,000

4 3 32 19 32 40 5 8 90 41 71 1 10 2 69 79 84 155 22 1 2 3 5 24 58 860

10,400 7,750 194,800 202,900 135,680 268,520 21,440 31,000 1,464,080 160,160 248,280 3,040 26,400 5,600 369,520 741,920 370,680 765,440 98,280 5,300 5,200 7,920 14,280 54,080 217,880 5,430,550

104 255 148 320 61 100 118 32.5 150 51 30 37.0 68.0 275 39.0 230.0 102.0 71.0 188 255 30 73 65 58 51 108.0

106 260 150 325 62 230 102 120 102 34.0 152 52 31 38.0 69.0 290 59 39.5 232.0 104.0 72.0 190 280 33 80 66 61 52 110.0

0.0% 0.0% 0.0% 0.0% 6.3% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2.2% 0.0% 0.0% 0.0% 0.0% 0.0% 3.7% 4.2% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2.4%

112 285 67 182 345 18.5 69 25.0 130 36.0 230 122 120 102 52 35.5 150 65 35 71 44.0 48.5 70.0 26.0 295 65 39 51 47.5 104 270.0 130.0 25.0 33.5 96.0 29.0 190 310 114 32 89 73 60 59 64 42.5 140.0 85.99

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

16.16 9.83 0.00

Ex-D Ex-D Ex-D -

-

-

-

260 450 28.0

300 510 43.0

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

325 610 540 148 220 134 40.5 44.91

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

1 -4 2 -

1,960,000 1,420,000 2,140,000 120,000 2,720,000 100,000 560,000 115,000 480,000 66,000,000 25,680,000 600,000 360,000 13,040,000 160,000 2,560,000 21,600,000 15,040,000 920,000 360,000 58,400,000 2,240,000 43,280,000 880,000 320,000 261,055,000

17 18 49 3 30 1 6 12 11 344 228 7 9 171 1 43 182 92 20 6 272 23 307 22 17 1,891

111,200 163,440 302,120 27,800 104,040 11,000 53,760 117,100 36,360 1,266,240 1,689,160 53,400 21,320 893,320 5,920 215,320 471,360 693,200 58,120 23,240 2,790,600 87,360 1,014,600 54,080 108,350 10,372,410

56 114 136 232 234 116 92 37.5 97 95 1,000 75 18.5 66.0 89 59 69 79 83 21.0 87 45.5 61 65 152 47.0 38.0 22.0 37 57 340

57 116 138 234 31.0 236 138 96 38.0 96 1,020 76 19.0 67.0 90 60 70 83 38.0 84 21.5 89 46.0 63 69 170 47.5 38.5 23.0 40 60 345

0.0% 4.4% 0.0% 6.5% 0.0% 3.4% 0.0% 7.7% 0.0% 6.4% 0.0% 1.0% 0.0% 0.0% 0.0% 5.6% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 7.7% 6.3% 0.0% 0.0% 0.0% 0.0% 0.0% 3.7% 0.0% 0.0% 0.0% 0.0% 1.0%

63 118 152 246 37.5 250 130 100 52.0 120 104 1,080 85 20.0 68.0 97 75 73 90 38.0 92 23.0 91 17.5 45.0 70 80 174 52.0 39.5 40.5 28.5 25.5 134 40 220 70 480 58.42

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

1,460,000 1 460 000 360,000 10,000 7,500 10,000 200,000 185,000

31 15 1 2 1 8 14

336,480 336 480 43,840 4,600 9,300 2,850 28,680 162,050

228 122 455 122 1,240 280 144 860

232 124 465 132 1,260 285 870

0.0% 0 0% 0.0% 3.3% 0.0% 5.9% 3.5% 0.0% 7.5%

260 136 475 158 1,480 345 222 920

214 116 415 122 1,240 290 134 660

Ÿ

57 114 138 232 28.5 236 118 91 37.5 110 96 1,000 75 18.5 67.0 89 60 69 79 37.0 83 21.0 87 17.5 46.0 63 65 160 47.5 28.5 38.5 17.5 22.5 134 134 220 59 340 58.38

56 114 142 230 28.5 236 118 91 38.5 110 96 1,000 75 18.5 66.0 89 59 67 79 37.5 82 21.0 87 17.5 45.0 62 66 160 47.0 28.5 38.5 17.5 23.0 134 134 220 61 340 58.38

1.0Ex-D 1.0 1 2 0.51 1.0 1 -1 1 0.5Ex-D -2 0.00

Ÿ Ÿ ź ŷ ŷ ź Ÿ ź

232 122 460 122 1,240 285 144 870

230 120 465 122 1,240 290 134 890

2 2 -5 -5 10 -20

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

Last Ask

3.7% 0.0% 0.0% 2.5% 1.6% 1.8% 2.3% 2.0% 0.0% 1.9%

300 520 500 134 220 122 40.50 43.48

ŷ ŷ

Last Bid

MTD YTD 0.89% -1.25% 2.62% 8.81% Div. Annual Close High Yield Low P/E

1,080 440 610 910 280 430 760 600

300 520 500 134 220 122 40.50 43.48

ŷ ŷ

DTD 0.10% 0.38%

1,060 435 600 900 275 425 750 590

-

-1

4 1.5 2 -1 -1 4 1.0 2.02.0 1.0 2.0 2.5 3 -1 -2 0.16

-

Total Market Services

Source: KAMCO Research

Total Market

Market Cap Market Cap (Mn QAR)

(Mn QAR) 184,683,444

10,748,513 184,683,444 93,452,967 10,748,513 179,736,354 93,452,967 468,621,278 179,736,354

16.82%

468,621,278

M-T-M M-T-M % Chg

% Chg (0.75%)

(0.34%) (0.75%)

1.96% (0.34%) 8.23% 1.96% 3.09% 8.23%

3.09%

Monthly Trading Indicators Volume Value (000Volume Shares) (000Value QAR) (000 Shares) (000 QAR) 29,758 1,346,266 1,377 60,631 29,758 1,346,266 44,695 1,396,625 1,377 60,631 121,439 2,869,301 44,695 1,396,625 197,269 5,672,823 121,439 2,869,301

Source: KAMCO Research with 1.1 billion riyals in 2010. The fall in the sales revenue was due to the decrease in market demand for both cement and washed sand caused by the effects of the global financial crisis and also due to the arrival of a new entrant in the domestic cement and washed sand market in addition the main client for lime Qatar Steel stopped taking the product since June 2011.

In economic news, preliminary data from the Statistics Authority showed that Qatar’s real gross domestic product (GDP) expanded 14 percent in 2011 to 360 billion riyals ($98.89 billion) as energy exports gave it one of the highest growth rates in the world. Real GDP grew 4.4 percent quarter-on-quarter in the last three months of 2011 to 95.51 billion riyals ($26.24 billion), and 14.7 percent on an annual basis, the data revealed. Last year’s growth was below the International Monetary Fund’s (IMF) latest estimate of 18.7 percent. Inflation in Qatar during the current year will be at a minimum of two percent and a maximum of four percent. This was stated by the Secretary General of the Director of Developmental Planning, while addressing the Qatar-Italian business forum in Doha recently. Explaining the reason for the inflation he said that it is largely due to external pressure resulting from the import of a wide range of consumer goods from different countries.

Date of Closing Prices:

651,500 241,400 306,050 114,050 174,350 365,650 1,426,050 413,100 3,692,150

-

43.05

197,269

5,672,823

Valuation Multiples Valuation Multiples P/E P/B Yield P/E P/B Yield (X) (X) (%)

(X) 12.32

11.48 12.32

7.50 11.48 20.77 7.50 12.81 20.77

12.81

(X) 1.93

1.50 1.93 2.29 1.50 1.80 2.29 1.92 1.80

1.92

(%) 3.95%

4.12% 3.95%

4.92% 4.12% 1.69% 4.92% 3.23% 1.69%

3.23%

In other economic news, the total investments required to enhance the water networks in Qatar in the next 10 years are roughly 22 billion riyals, according to the Minister of Energy and Industry. The Minister discussed the latest water projects, particularly the Ras Qartas project which will produce 63 million gallons 3 of desalinated water. With the completion of the current stage of the project, the total gal3 lons of desalinated water produced will reach 325 gallons a day.

Moreover, Qatar’s annual budget will now be for three-year duration but shall be subject to renewal every year. This was decided at the Cabinet meeting during March. Explaining the background to this decision, the Deputy Prime Minister and Minister of State for Cabinet Affairs said in a statement to Qatar News Agency; “In light of the government’s plan to change its system of accounting and incorporating new techniques in budget planning in keeping with the emerging needs of information technology on which basis the Ministry of Economy and Finance prepares its budget, it has been resolved to approve the proposal made by the Ministry of Economy and Finance on postponing the sanctioning of the budget for the year 2012/2013 to end June this year instead of the beginning of April. However, the budget for the current year shall continue to be in force until an Amiri Decision is issued on the new budget.

05 / 01 / 2012

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

27 19 10 7 25 23 40 32 183

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Industrial Insurance Services Industrial

of gas, with the first gas flow planned for late 2014. The project is designed to accommodate a maximum of six trains. Barzan gas will serve the energy requirements of power stations and industries in Qatar and go a long way in meeting the country’s growing requirements for clean-burning natural gas. Ethane produced 1 by the project will be supplied to the country’s 1 petrochemicals industry.

Furthermore, Qatar’s Mannai Corporation (MCCS) and Egyptian investment bank EFG Hermes have agreed a $0.45 per share recommended cash bid for Dubai jeweller Damas.

In a joint statement, Mannai and EFG Hermes said irrevocable undertakings had been secured from 77.8 percent of Damas shareholders, with the bid valuing Damas’ share capital at around $445million. Mannai, whose operations span the oil and gas, automotive, travel and logistics sectors, is set to become the majority owner of Damas and delist the company from the Nasdaq Dubai bourse if the deal goes through.

Furthermore, Qatar National Cement Company (QNCC) is looking to increase capacity as the country prepares to stage FIFA 2022 World Cup, which will boost construction activities in the country. QNCC will explore “new alternatives” to increase cement production capacity, which stood at 3.5 million tons in 2011.

The production of washed cement reached 3.6 million tons last year. The total value of sales reached 990 million riyals in 2011 compared

607,500 550,000 505,000 125,000 630,000 860,000 1,895,000 700,000 5,872,500

104 260 52 148 320 13.0 62 25.0 130 25.0 230 102 116 102 52 33.5 150 52 30.5 71 38.0 48.5 64 26.0 280 55 38.5 51 38.0 100 232.0 100.0 22.0 22.5 71.0 29.0 186.0 265 114 30.00 75 66 57 53 64 42.50 112 82.29

ŷ

56 114 138 230 37.5 110 96 1,000 75 18.5 65.0 89 59 66 37.0 83 21.0 44.5 62 64 47.0 38.5 22.5 59 335

1080 440 790 610 930 280 425 760 590 324.56

17.58% 17.41% 17.41% 16.82%

Trading Prices of Kuwait Stock Exchange Date of Closig Prices: 23/04/2012

Previous Close Change 180.73 0.18 6,302.90 23.70 Trading Activity Tran. Value(KD) Chng Volume

104 260 52 148 320 13.0 61 25.0 130 25.0 230 102 120 102 52 35.0 152 51 30 71 38.0 48.5 68 26.0 280 55 38.5 51 39.0 100 230.0 102.0 22.0 22.5 72.0 29.0 188 265 114 32.50 75 66 60 52 64 42.50 110 82.45

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

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1080 440 790 600 910 280 430 760 600 324.22

Insurance Banking & Finance

0

For more Information please contact "Global" at (+965) 180 42 42 or www.globalinv.net Last Close 180.91 6,326.60 Last Prev.

Close Close

Sector

Sector & Finance Banking

5

15.9.11

1.9.11

1.9.11

Muscat Securities Market. The index began the in January, shedding 2.4 percent as investors booked profits due to lower than expected dividends which increased during 2011 at 4.4 percent to 16.87 billion riyals ($4.63 billion) which was not in line with the 28 percent increase in corporate profits to 38 billion riyals ($10.44 billion) over the same period. In February, the bourse rebounded with a sharp correction at 2.09 percent, as investors saw the dip as a buying opportunity in a market that has weathered the volatile market scene in the region backed by a booming economy, coupled with a positive global rally in January. Despite the timid market performance, FY 2011 earnings came in strong with a 27.6 percent growth in profits to 38 billion riyals ($10.4 billion) from 29.8 billion riyals ($8.2 billion) the previous year. The heavyweight banking and the key industrial sectors were the drivers in earnings growth with a 22.2 percent and 81.6 percent jump in earnings, respectively, to 15 billion riyals ($4.1 billion) and 12.5 billion riyals ($3.4 billion).

In corporate news, RasGas will be the largest gas processor in the world handling two million barrels of oil equivalent a day with the Barzan project completion. The $10.4 billion project is a joint venture between Qatar Petroleum and ExxonMobil to produce and process gas from Qatar’s North Field. The project is expected to supply 1.4billion cubic feet per day

Source: KAMCO Researchnote year on a negative

15.9.11

18.8.11

4.8.11

4.8.11

18.8.11

21.7.11

7.7.11

7.7.11

21.7.11

9.6.11

23.6.11

23.6.11

26.5.11

9.6.11

12.5.11

Source: KAMCO Research

26.5.11

28.4.11

12.5.11

14.4.11

28.4.11

14.4.11

31.3.11

31.3.11

8,000 7,800

16.65 12.88 12.88 43.05

Worst Return Performers (March-2012) Worst Return Performers (March-2012) Close M-T-M Close M-T-M (QAR) % Chg (QAR) % Chg Doha Insurance 24.60 (27.22%) Doha 24.60 UnitedInsurance Development Co. 19.57 (27.22%) (20.45%) United Development Co. 19.57 Qatar Fuel Co. 246.60 (20.45%) (17.47%) Qatar Co. Insurance 246.60 Qatar Fuel General 46.50 (17.47%) (15.45%) Qatar International General Insurance 46.50 (15.45%) Qatar Islamic Bank 50.50 (8.68%) Qatar International Islamic Bank 50.50 (8.68%)

QE Sectors Performance (March-2012) QE Sectors Performance (March-2012) Monthly Trading Indicators

2010

8,000 8,200

Date of Closing Prices: 23 / 04 / 2012 For more information please contact “Global” at (+965) 180 42 42 or www.globalinv.net Ÿ

Source: KAMCO Research

2515

Trading Prices of Kuwait Exchange Trading Prices of Kuwait StockStock Exchange

Global General Index KSE Price Index

Best Return Performers (March-2012) Best Return Performers (March-2012) Close M-T-M Close M-T-M (QAR) % Chg (QAR) % Chg Dlala Brokerage & Investment Co. 29.00 54.91% Dlala & Investment Co. 29.00 AamalBrokerage Co. 18.58 54.91% 19.49% Aamal Co. 18.58 19.49% Gulf Holding Co. 16.65 17.58%

Gulf Holding Co. Investment Salam International Salam International Investment Qatar Meat & Livestock Trading Co. Source: KAMCO ResearchTrading Co. Qatar Meat & Livestock

3525

8,200 8,400

7,800

Vol. Traded (shr. mil.)

Vol. Traded (shr. mil.)

GCC equity markets review

55

Source: KAMCO Research

14.24 0.00 9.18 0.00 0.00 0.00 0.00 0.00 0.00 47.89 0.00 0.00 71.95 0.00 0.00 0.00 0.00 13.64 0.00 0.00 0.00 18.77 20.94 16.18 573.07

0.00 0.00 5.49 13.98

51.21 13.40 16.19 23.03 9.61 15.16 24.12 29.41 0.00 15.51 404.87

116.65 0.00 11.91 8.00 204.85 0.00 0.00 26.88 439.41 0.00 0.00 19.24

20.56 7.17 12.85 18.03 31.17

Shuaiba Industrial

216

Metal Collecting Global General Index Kuwait Foundry 340 KSE Price Index

226 ACICO 91 United Industries Company High 630 Boubyan Petroch.

1,140 Gulf Glass National Bank Gulf Bank 495 Hilal Cement Commercial Bank 770 Al Kout Ind. Project Ahli Bank 640 K-PAK Ahli UnitedMaterial Bank 850 Building International 248 Nat. Ind.Co.Bank 310 460 Burgan BankHolding Equipment 158 Kw Finance House Consumer Industries 890 Boubyan Bank 590 Kuwait Gypsum Global Qurain Index - Banking 216 Salbookh Trading Kw Investment - IKARUS 200 265 Commercial Facilit.

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

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

53 Agility 410 Int'L Investor Market Complexes Securities House ZAIN 740 Ind. & Fin. Inv. Safat Energy 80.0 Securities Group Educational Group Int'L Finance Indep. Petroleum 110 MARKAZ National Cleaning 164 KMIFIC Sultan - 118 Int'L Inv. Center Group Arabi 142 Aref Inv.Group Group City Group Investment Dar - Tele.

2,480 AlWataniya AMAN Inv. Kw Gulf Link 136 ALOLA Inv. 110 Kw Cable ALMAL Inv. Vision 50 Automated System - Gulf Inv. House NAPESCO - A'ayan Leasing KCPC 290 32.5 Bayan Inv. K.S.H Inv. GLOBAL EyasInv. Osoul Hits Telecom GULFINVEST - 110 KFIC -19.0 Al Safwa Holding KAMCO - Human Soft Int'l Leasing & Holding Inv. -77 Privatization Nat. Int'l Holding Nafaaes Holding 102 - Housing Finance National Slaughter MADAR Aref energy 130 26.5 AlSafwan Deera Holding 540 AlGulf Safat Inv. Petroleum 72.0 122.0 AlGulf Salam Group Franchising 26.0 41.0 Ekttitab Credit Holding & Collection AlNational Qurain Holding -22.5 Ranges Sokouk BurganHolding Well Drilling 16.5 Al-Madina 40.0 IFA H&R Finance NOOR Combinted Group Tamdeen Inv. 160 88 Jeeran Holding KW BH Int'l Exch.

Palms Agro Taiba Kuwaiti Holding Safat TEC Kuwait Syrian Mushrif Trading 93 Strategia UPAC 335 53 Kuwait China Inv. ALAFCO 305 Manafae Inv. Al-Muwasat - Gulf North Africa Mashaer Holding 295 Amwal Fuel AlOula Masar Future Comm.

Al-Imtiaz 132 120 Hayat Comm.

Global Index - Investment 67 Mubarrad Transport Kuwait Insurance -Kuwait Resorts Gulf Insurance - Advanced Technolgy Ahlia Insurance 375 Yiaco Medical 112 Warba Insurance 450 Al Jazeera Airways - Kuwait Re-Ins. Al Soor Fuel First Takaful - Future Kid Ins. Wethaq Insurance KGL 285 Global Index - Insurance Al Nawadi Alrai Media Kuwait R.E. 48 Zima R.E. Holding United 100 National 126 GlobalR.E. Index - Services Salhia R.E. 204 LiveStock Trans.

Pearl R.E. Dana Al-Safat 22496 Tamdeen R.E. United Poultry Ajial R.E. - Kw FoodStuff 1,360 Massaleh R.E. United Food Arab R.E. 30.0 Kout R.E. Food - Union

216 - źŷ 340 źź 226 ź 88 Ÿ Low 620 ź 1,120 - ŷŷ 490 - ŷŷ 770 - ŷŷ 640 - źŷ 800 - Ÿ 248 310 ŷŷ 455 144 źŸ 880 - źŷ 580 - ŷ 214 źŸ - - ŷŷ 194 źŸ 260 4073 źź 170 źŸ 300 - Ÿŷ 12.5 ŷ - ŷ 52 ź 400 ŷ ŷ - ŷ - ŷ 740 ŷ ŷ 78.0 ŷ - ŷ - ŷ - ŷ 108 - ŷŷ 158 - ŷŸ - 112 ŷź 134 - ŷŸ - - ŷŷ 2,420 ŷŸ 130 ŷŸ 108 49 - źŷ - - ŷŷ - - ŷŷ 290 ŷŷ 31.0 - ŷŷ -ŷ - 106 ŷŸ -18.0 ŷŷ - - ŷŷ -76 ŷŷ -99 ŷŷ - - ŷŷ - ŷŸ 120 26.5 530 ŷź - ŷź 70.0 114.0 24.0 ŸŸ 39.0 - źŷ -22.0 ŷź 16.5 - ŷŷ 38.5 - źŷ - ŷŷ 158 źŷ 84 - ŷ - ŷ - ŷ ŷ - ŷ 89 Ÿ - ŷ 335 ź 53 ŷ 295 - ŷź - - ŷŷ 295 - ŷŷ - ŷŷ 124 - źŷ 114 źŸ 64 ŷ -- ŷŷ - - ŷŷ - ŷŸ 370 108 450 źź - - ŷ - -ŷ 285 ŷŷ - źŷ 48 - źŷ 100 - Ÿŷ 118 ŸŸ 200 ź - ŷ ŷ 22495 źź - ŷŷ 1,360 - ŷŷ 30.0 - źŷ - - ŷŷ

Global Index - Food 98 96 ERESCO 860 - 840 Mabani Sharjah Cement 7588 7487 INJAZZAT RE Gulf Cement Inv. Holding Um QuwainGrp Cement 12.071 11.570 Int'L Resorts Fujaira Cement 78 77 Commercial R.E 126 126 Ras AlKheimah 70 65 Sanam R.E. ARIG 54 53 Aa'yan R.E United Gulf Bank Aqar 290 Egypt Kw Holding 285 Kuwait R.E Holding Bahrain Kw Ins. 59 AL Mazaya 60 56.0 House 58.0 14.0 AlGulf Dar Fin. National R.E 14.0 InovestInt'L Holding -71 -70 Themar Ahli United Bank - 168 Grand R.E Projects - 170 - 32.5 Tijara & R.E Invest -35.0 Ithmaar Bank AlGlobal TameerIndex - Non-Kuwaiti Arkan Al-Kuwait R.E 70 70 Markaz Real Estate Safat Global AlInvestment Argan Int'L Funds 28.5 28.0 Abyaar Al-Bareeq Holding 23.5 - 23.5 Munshaat AFAQ First Dubai 26.0 - 25.5 Al-Shamel KBT 27.0 Al-Safat Real Estate 27.0 Manazel 16.5 - 15.5 Ajwan Real Estate REAM Specialities Group 465 485 - Mena Real Inter.

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

źź Ÿŷ Ÿŷ źŷ ŷ ŷ Ÿ ŷ ź ŷ ź ŷ ŷ Ÿ ŷ ź Ÿ ź ŷŷ

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

- ŷ Heavy & Ship.

Totaleng.

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

Last Close Previous20,000 Close 1 Change4,320 216 216 Ex-D 114 176.53114 177.24 -0.70 -10 5,754.20 30,000 3 -27.3010,200 3405,726.90 350 -4 120,000 2 27,120 230 226 Last Prev.

Trading Activity 2 1,240,000 28 111,600 89 91 Close Close Chng 895,000Tran.

18 Value(KD) 630 -10 Volume 620 555,200 1,100 1,100 3,796,050 - 1120 1120 69 3,377,500 20 495 495 - 830,000 407,950 216 216 770 770 10,000 1 7,700 - 415 415 640 -20 2 6,400 660 10,000 275 275 800 50 850 350,000 23 282,700 224 Ex-D 224 16 8 248 248 - 700,000 173,600 300,000 310 310 93,000 460 465 -510 500,000 1098 229,750 148 3,820,000 587,400 158 890 -10 880 1,280,000 66 1,127,050 102 102 590 590 607,850 1,035,000 33 Ex-D 128 128 319.37 319.54 8,092,500 6,639,050 0.17-2 212 1,040,000 24031 223,200 214 44 44 106 106 - - - - 194 80,000 200 15,720 260 265 -5 6 250,000 14 4 65,750 720,000 53,440 4074 1,680,000 -1-1 67,160 4175 1312 10,497,500 277 0.11 2,269,000 168.49 168.38 170 1,040,000 20 172 -2 177,720 300 110,000 5 33,000 295 5 960 960 7,040,000 12.5 12.5 46 90,920 280 280 1,280,000 22 52 53 -1 67,280 405 510,000 22 205,800 405 25.0 25.0 52 52 130 130 925,000 740 1,250,000 740 58 31.0 31.0 4,800,000 79.0 45 379,240 79.0 230 230 110 110 102 102 350 350 -108 112 73,920 680,000 18 281,760 1,760,000 2.0 164 162 50 50 -51 3,180,000 112 103 116 358,200 44.0 44.0 - -4 145 8,000,000 1,116,320 138 132 52 52 -6 550 550 74 74 - - - - 50,000 2,440 121,700 2,480 28.5 28.5 - 40 -16 2,540,000 336,040 134 130 108 1452 54,920 108 -4 500,000 58 4958 49.5 15,840 -1 320,000 4 300 300 23 - - 23 - - 355 355 71 - - 71 - - 290 14,500 50,000 290 31.0 31.0 58,760 1,840,000 22 2 - 255 255 48.5 - 48.5 - - 260 260 - - 68 68 -Ex-D - 2,082,840 19,200,000 2 243 110 108 20.5 20.5 26.0 26.0 16,640,000 114 308,360 18.5 18.5 244 - 244 - - - 270 270 9477 - 9477 -28 1,680,000 127,720 -4 5199 5199 - 280,000 27,960 - 36 36 - - - 154 154 -85 51 51 -10 130 120 3,040,000 389,920 26.5 26.5 23 6,360 - -10 240,000 540 550 35,000 18,700 75 75 -49 2.070.0 72.0 3,520,000 248,680 8.0 120.0 112.0 1,305,280 2.0 11,180,000 1,200,000 21215 24.0 26.0 30,600 2.039.5 41.5 24 77,080 1,920,000 120 120 19.0 19.0 - 0.5-96 426,040 22.0 19,360,000 22.5 16.5 5 7,920 16.5 480,000 260 260 39.0 0.5- - 10,640,000 93 419,440 38.5 395 395 29.0 29.0 - - - 1,680 1,680 160 2.0158 12,680 80,000 4 4 88 88 17,120 200,000 255 255 126 126 114 114 74.0 74.0 26.00 26.00 50 5 040 000 459 480 93 88 5.0 5,040,000 89 459,480 68 68 1 340 6,700 20,000 335 5.053 200,000 53 10,600 2 295 449,000 305 1,500,000 --10 60 -43 60 168 168 46.5 - - - - 46.5 295 5,900 295 20,000 64 - -2 64 265 265 42.50 - 42.50 - - - 265 265 128 130 -2 1,240,000 38 157,920 120 273,280 118 2.0 40,720,000 2,320,000 55888 76.02 0.1275.90 2,702,550 64 374,040 64 91 5,720,000 - - 325 325 - 46.0 46.0 -- - 560 560 - 770 770 -485 485 370 11,150 3 350 20.0 30,000 118 -8-5 120,000 110 66 13,200 450 36,000 455 80,000 220 220 Ex-D - 238 238 114 114 - - - 108 108 Ex-D 40.50 40.50 285 71,250 285 18 250,000 43.63 43.43 0.19- 120,000 6 13,200 81 81 118 118 1 3,840 49 -1 48 80,000 98 92,000 9 100 9998 1 920,000 383,920 124 120 4 105 3,100,000 1,476 747.13 9,103,300 744.75 102,275,000 2.37 12 104,680 200 204 -4 520,000 184 184 37.5 37.5 96 11,480 120,000 95 -1 32 224 10.0100,000 22,400 234 136 136 120 120 - 1,360 1,360 323,000 237,500 82 - -13 82 340 340 1 30.0 80,000 30.5 0.52,400 560 560 - 108 108 - - 0.14334,480 334.84 334.98 357,500 31,160 -1 320,000 98 97 815 1,656,950 10 1,935,000 850 57 860 80 80 2 8,960 120,000 2 7588 7388 480,000 41,960 10 15 9 23,960 11.5 12.0 0.5- 2,000,000 70 87,240 70 1,240,000 38.0 38.0 91 91 3 18,520 78 77 1 240,000 126 126 60,000 2 7,560 67,400 17 1,000,000 65 70 -5 114 114 4 10,720 54 -1 55 200,000 178 178 90 90 10 72,400 290 280 250,000 13 38.0 38.0 455 Ex-D 455 11 59 26,160 440,000 -4 63 56.0 1,474,040 57.0 168 25,880,000 1 80,000 1,120 14.0 14.5 0.5-1 6,240,000 441,920 -73 9170 9170 94,160 168 168 560,000 -16 17.5 17.5 31.0 31.032.5 34.0 53,120,000 359 1,790,360 2 59 59 4,009,640 42.04 0.36 42.40 87,830,000 650 -4 320,000 2 22,400 70 74 122 122 48.5 48.5 - - - 124 124 12 0.52,720,000 76,880 28.0 28.5 144 144 1.0- 80,000 1 1,880 23.5 24.5 106 106 0.5240,000 6,160 3 26.0 25.5 250 250 Ex-D 35,040,000 946,080 - 4 27.0 27.0 19.5 19.5 1,200,000 8 1.0- 19,240 16.5 15.5 33 33 - 25 -28 134 134 297,000 620,000 485 460 - 134 134 51 51 - - - - 220 220 345 345 1 240,000 6 13,520 57 58 106 106 47 610,850 295 290 5 2,110,000 2,260 2,260 0.024,151,200 49.73 49.75 -2 53,085,000 80,000 332 1 41.0 39.5 3,160 92.0 232 128 65 450 55 150 1,420 335 212 720 Ÿ 180 Ÿ 104 460 ź

92.0 242 -10 13,220,000 - 154 128 - 140,000 6 65 470 20 50,000 2 55 150 -29 700,000 1,460 -40 2,500 1 335 528,507,5005,352 212 Close Prev. Close 720 230,000 19 190.82 180 190.92 186.203 106 186.27-2 80,000 460 576.17 576.66

DTD MTD YTD 0.0% 216 180 13.22 216 -0.40% 118 -1.55% -1.55% 0.0% 120 102 112 495 0.0% 315 340 345 -1.50% -0.47% -1.50% 230 2.2% 196 28.05 226 230 Annual Close 79 Last90 Last 91 Div. 0.0% 102 37.25 Bid610 Ask 620 Yield High630 Low550 P/E88.41 0.0% 1,100 3.6% 3.6% 1,400 1,100 1,100 17.40 1,120 1,140 1,120 14.74 490 495 510 490 33.95 224 0.0% 6.9% 216 206 12.38 210 770 780 - 1.9% 790 770 88.62 340 9.94 8.4% 415 640 660 660 640 17.34 295 3.1% 0.0% 300 275 5.20 255 840 850 - 1.6% 850 790 29.68 228 35.32 2.2% 224 214 246 248 255 248 23.59 260 25.33 325 305 310 0.0% 3.2% 460 465 - 0.0% 475 46051 12.26 0.0% 152 158 880 - 2.3% 900 88093 25.07 870 102 0.0% 590 - 0.0% 580 590 590 18.88 128 112.24 128 5.5% 18.61 222 318.41 216 2.0% 210 13.03 214 0.0% 319.54 0.00 0.0% 102 106 - 0.0% 10651 10641 40.56 162 214 17.83 194 4.0% 200 8.5% 260 265 265 260 12.09 0.0% 4074 4075 0.0% 4288 4070 163.04 13.86 174.76 2.7% 172 168 0.0% 174 170 88.93 295 300 305 295 12.13 18.02 960 910 4.4% 1,120 1,000 6.7% 12.5 13.0 0.0% 13.5 12.5 1.33 280 300 0.0% 280 51 52 0.0% 54 52 430 15.68 340 7.4% 400 405 0.0% 25.0 25.0 0.00 65 41 0.00 0.0% 0.0% 130 130 900 690 11.15 730 8.8% 740 33.5 0.0% 36.0 31.0 81.0 45.0 78.0 79.0 0.0% 0.0% 230 230 110 110 58.86 0.0% - 0.0% 102 102 0.00 295 330 355 9.3% 350 0.0% 106 110 116 108 170 20.96 110 162 3.0% 164 0.0% 50 50 0.00 102 0.0% 136 - 110 - 112 0.0% 44.0 44.0 0.00 11.66 134 138 132 0.0% 0.0% 52 5284 0.00 530 540 0.0% 550 0.0% 74 74 0.00 1,920 12.94 2,420 2,480 0.0% 2.0% 2,440 27.0 29.5 28.5 28.5 0.00 132 0.0% 134 0.0% 132 110 112 10895 0.00 108 0.0% 49 5056 0.0% 5168 4958 230 22.18 285 8.3% 320 0.0% 350 21 24 23 22 7.0% 340 8.75 395 - - - 0.0% 71 71 0.00 3.4% 260 9.91 295 0.0% 285 305 31.0 32.5 31.5 31.0 7.1% 255 12.82 - 0.0% 260 - 250 48.5 48.5 260 260 4.79 7.7% - 0.0% 68.0 64.0 68.0 32.31 362.53 0.0% 132 - 108 - 110 0.0% 20.5 20.554 - 18.0 - 18.5 0.0% 26.0 26.0 0.00 14.0 0.0% 23.5 - 238 244 244 270 12.91 280 0.0% 270 0.0% -76 -77 0.0% 9484 9461 0.00 13.63 6.5% -94 54 51 5184 116.80 0.0% 100 0.0% 104 - 0.0% 36 36 0.00 154 9.95 0.0% 184 154 51 5191 0.00 - - 0.0% 0.0% 120 130 26.0 26.5 27.0 27.5 520 13.11 520 540 0.0% 5.0% 710 0.0% 75 75 0.00 30.0 10.87 70.0 71.0 0.0% 78.0 99.0 120.0 120.0 118.0 16.0 24.0 26.0 0.0% 0.0% 28.5 19.5 39.0 41.5 120 130 0.0% 0.0% 140 19.0 20.0 19.0 18.0 0.00 22.5 21.5 22.0 0.0% 0.0% 12.0 16.0 16.5 17.0 16.5 42.66 244 280 0.0% 0.0% 198 275 39.0 38.0 38.5 39.0 86.17 400 0.0% 490 380 385 0.0% 0.0% 29.0 0.00 % 29.0 1,660 15.98 4.2% 1,680 1,740 1,500 156 8.28 3.8% 156 160 162 5.84 85 91 0.0% 89 73 255 22.77 255 270 5.1% 120 130 14.61 7.9% 126 86 11.92 114 0.0% 114 70.0 73.0 0.0% 78.0 57.0 26 27 0.0% 28 0 0% 0 00 93 0.0% 104 80 0.00 68 43.00 63 73 0.0% 68 340 335 345 12.16 9.0% 270 53 53 52 0.0% 55 280 3.86 295 300 3.4% 315 60 61 0.0% 60 130 7.71 6.0% 168 178 10.8% 47 47 - 47 172 4.4% 10.49 295 0.0% 305 290 64 69 64 265 21.52 0.0% 305 42.5 0.00 - 255 - 265 0.0% 42.5 300 128.0 18.62 265 0.0% 265 0.0% 124.0 128.0 132.0 5.19 122 2.4% 120 124 75.90 70 0.0% 10.01 76.32 65 64 51 0.0% 72 16.97 325 300 325 325 47.5 6.2% 0.0% 62.0 46.5 44.0 20.03 12.90 610 510 560 560 1.9% 770 750 4.5% 640 31.91 9.91 460 500 5.2% 520 485 370 4.1% 390 365 12.13 345 17.37 108 114 118 110 485 445 450 9.1% 410 9.38 0.0% 220 220 2.7% 0.0% 236 238 270 236 296.83 17.51 134 11498 110 4.6% 14.91 106 108 0.0% 114 40.5 43.0 40.5 300 218 8.72 285 290 0.0% 7.0% 12.60 44.80 92 43.43 77 84 4.7% 7.03 80 8.6% 114 118 0.0% 112 156 21.95 0.0% 37.20 49 49 48 48 106 0.0% 0.0% 110 12.83 100 100 9994 99 126 0.0% 120 22.21 128 122 11.40 791.90 705.36 12.1% 202 10.0% 200 17.83 208 200 182 15.27 222 - 0.0% 0.0% 37.5 37.5 37.5 114 0.0% 234 22490 16.20 22496 4.5% -95 126 6.02 3.7% 136 130 120 110 130 - 0.0% 1,340 1,360 1,380 11.38 4.8% 1,500 6.1% 82 82 5.29 85 290 340 390 44.60 345 1.5% 0.0% 30.5 30.0 31.5 540 580 6.5% 500 10.04 5.4% 610 108 108 15.28 112 118 11.38 365.22 334.34 4.2% 0.0% 100 96 39.65 95 98 860 840 21.70 86079 87081 0.0% 95 0.0% 44 76 7355 7681 0.0% 7179 0.0% 108 0.00 12.573 11.543 11.587 12.088 0.0% 32.52 10.0% 0.0% 38.0 38.0 35.5 37.0 46 70 71 0.0% 122 0.0% 78 14.56 77 77 79 93 118 11.30 86 7.9% 126 0.0% 75 65 65 102 124 126 0.0% 132 54 26.32 0.0% 55 53 54 116 172 104 0.0% 232 387.72 0.0% 90 90 91 184 6.9% 250 6.46 178 330 0.0% 38.0 38.0 40.5 285 290 5.5% 455 455 0.00 63 60 0.0% 59 0.0% 74.0 40.5 541.46 14.5 4.15 14.5 14.0 0.0% 13.5 0.0% 9458 5.5% 91 91 9057 9.27 7.1% 17.5 17.5 - 71 0.0% - 70 33.5 31.0 31.0 19.44 168.0 30.0 170.0 0.0% 0.0% 57 0.0% 59 59 47.16 40.74 8.68 4.3% 70 74 0.0% 78 70 11.37 1,220 1,220 0.0% 0.00 48.5 48.5 116 126 0.0% 144 124 5.38 28.0 28.5 - 0.0% 29.0 28.0 27.28 0.0% 25.0 - 0.0% 24.5 23.5 23.5 4.7% 5.03 25.0 25.5 26.0 25.5 255 0.0% 6.0% 13.99 24.5 28.0 28.5 27.0 19.0 22.0 0.0% 0.0% 15.532 16.034 0.0% 16.5 15.5 0.0% 134 130 - 3.7% 134 23.07 5.9% 485 15.57 32 29 3250 0.0% 32 0.0% 220 - - 0.0% 220 18.82 218 0.0% 816.78 57 60 0.00 5580 57 - 0.0% 0.0% 9.98 295 270 0.00 290 295 - 0.0% 0.0% 1.1% 49.86 49.73 16.27 22.19 39.0 43.5 0.0% -

-3,111,120 17,800 122 22,550 455 150 300,160 3,550 1,420 35,211,530 310 Change 165,600 710 0.10 178 0.07 104 8,480 435 -0.49

91.0 232 13070 46555 1,440 340 216 DTD 720 0.05% 190 0.04% 108 -0.08%

0.0% 0.0% 0.0% 0.0% 2.2% 0.0% 3.3% 0.6% 4.6% 4.69% 3.0% 2.4% 13.9% 5.6% 0.0% 4.3%

232 260 130 128 470 450 158 150 1,460 1,420 340 335 212 222 MTD 710 740 -1.16% 180 180 -2.11% 104 116 460 460 2.96%

70.58 18.38

13.85 6.49 14.79 8.02 193.84 YTD 96.15 0.73% 10.91 -2.01% 23.15 26.77 2.52%

STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY tuesday, april 24, 2012

April 21, 2009 April 23, 2012

3% 6%

3% 6% Oman

113 115

111

Qatar

1%

Dubai

23-Feb-12

23-Mar-12

-6% -2

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

1

MENA Indices Highlights Country (Index)

Index Level

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

Index 7,525 Level

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

2,499 5,250

Ku Kuwait (KSE Weighted Index)

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

QaUAUAE Qatar (DSM Index) (ADSM Index)

OmOman UAE(MSM (DFMIndex) Index)

420

% Chg.

YTD

%-0.7% Chg.

0.1%

0.1% -4.0%

Jo Jordan (Amman General Index)

2,010

-0.7%

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)

5,478

1,681

10,344

463

1,176

2,825 471

10,621

5,101

1,094 546

Tu TunisiaClosed (Tunis SE Index)* * Market

3,282

5.1% 0.4%

-0.3%

0.2%

-

2.2%

0.0%

-0.3%

-

-

0.9% -

127

1 196

17,266 65,352

0.7% -18.8%

36.6%

0.7%

-6.8%

1,921

5,044

2,551

513

1,164 465

-3.3%

14,635 5,115

4,091

23.6%

739

407

7.2%

-7.2%

2,119

13.6%

3,418

-

9,406

-

1,043

-

2,837

-

9.15 8.85

4

63,640

7.67

18,727

2

1.61

1.29

15.06

10,485

3.21

1.56

6.29

67

33,782

12.71

6

10,158

15.70

2,518

0.85

2.15

9.05

59,990

1.14

18.36

8,507

2

1.68

8.07

56,652

1

1.35

9.50

13.75

3.95

1.79

6.47

2,079

0.86

8.67

6,576

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

OMR 0.720

GCC Worst Performers

MENA Worst Performers DEYDeyaar Development Co.

101 Riyad Bank

115

115

SAR 24.70

-6.4%

303,541,191 252,620,203

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

Turnover (USD)

213,492,746

703 Zain - Saudi Arabia (KSA)

343,553,085 191,215,727

201 Basic Industries 115Saudi Alinma Bank (KSA) Corp. (KSA)

119,955,261 171,182,851

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

97,126,838

NBKNational Bank of Kuwait (KUW)

88,742,222

2050.SSE Savola Group Co.

70Zain - Saudi Arabia

S&P GCC Large/Mid Composite

1 Alinma Bank

23-Apr-12

% Chg.

165.00

2.5%

103.00

1.5%

9.75

1.0%

35.00

3020.SSE Yamama Saudi Cement Co.

0.6%

51.25

Turnover (SAR) 1,138,370,529 1020.SSE Bank Al Jazira 947,401,548 1140.SSE Bank AlBilad 800,661,847 4300.SSE Dar Al Arkan Real Estate Dev. Co. 717,116,341 4220.SSE Emaar the Economic City

43Dar Al Arkan Real Estate Dev. Co.

23-Mar-12

Close

0.5%

Worst Performers

42Emaar the Economic City

23-Feb-12

64,280,166

3050.SSE Southern Province Cement Co.

Highest Turnover

105

-6.8%

Turnover (USD)

MENA Highest Turnover

1,471,455,307

Market Cap. (SAR '000)

-3.5% -8.9%

-3.4% -8.6%

422 Emaar the Economic City (KSA)

10,621,752

Turnover (SAR '000)

-9.9%

1.14 SARAED 48.00

SAR 13.70

GCC Highest Turnover

7,931 / 5,916 7030.SSE Zain - Saudi Arabia

Tadawul Index 52 week High / Low

117

% Chg.

KWD 0.112 SAR 22.95

225 Saudi Industrial Inv. Grp.

0.32

Advance/Decline Ratio

3.1%

8.0%

SAR 28.10 -13.1% -3.8% KWD 0.265

80% 4190.SSE Jarir Marketing Co.

% of stocks trading above 1yr avg. price

6.4% 8.6%

AED 0.37% Chg. -4.2% Close

7,525 (-0.7%)

Tadawul Index (% Chg.)

125

8.3% 8.8%

BHD 0.274

EMAEmaar Properties (UAE) Best Performers

Summary

8.7% 9.8%

8.0%

Close

UG United Gulf Bank

KFI Kuwait Finance House (KUW)

Rebased Performance

95 23-Jan-12

QAR 21.60

0.88 201 TAM Tamweel 1.74 Saudi Basic Industries Corp.

9.65

27,618

KWD 0.200

AED 1.00 QAR 6.35

1.88 FAC 102Commercial Bank Al Jazira 1.37 Facilities Co. 1.61 SULSultan Center Food Products Co. 0.88 238 Rabigh Petrochem.

10.77 6.87

15,024

5

1.03 1.77

11.36 7.29

57,294

46

328

8.70 10.24

18,331 37,413

19

1,572

10,233

1,403

2.4%

-1.3%

4,224

12,203

1,033

-0.1%

121

2,214

2,903

8.5%

3,587

1,129 4,230

12,109

-7.0%

14 305

1,407 12,627 5,628

0.9%

5,419 1,433

2.03

0.78 1.52

124,326 69,783

6,372 5,860

12.94

10.68 9.99

89 122

37 718

IKA Ikarus Petroleum Industries Co.

BKMBankMuscat

PB

34,473 98,547

8,071 2,137

1,301 316

Trailing

PB1.44

8,892 5,148

1,754 787

PE

PE 14.39

-0.9% 12.8%

KWD 0.130 OMR 0.703

QGTQatar Gas Transport Co.

101,846

66,014 264,263

4.6% 6.6%

2.5%

Mkt.392,357 Cap. USD million

12 2,183

-0.2% 1.9%

-0.5% 3.9%

396

Turnover 2,832 USD million

USD5.60 0.125 SAR

ARE AREFEngineering Energy Holding Co. GEC Galfar & Contracting ARKArkan Building Materials Co. KCB Al Khaliji Commercial Bank

Trailing

Mkt. Cap. USD million

2,293 4,130

5,959 1,745 4,948

525,916 Wk Low

Turnover USD million

2,775 10,090

21.2% -0.2%

-0.1% 0.6%

467

52 Wk Low

4.0% 9.3%

-0.6% 1.8%

1,151 5,590

OmOman (MSM Index)

3.7%

1,641 406

8,693 2,695

52 Wk 7,931 High

17.3% YTD

BaQa Bahrain Qatar (BSE (DSMIndex) Index)

Eg Egypt (EGX 30 Index)

52 Wk High

% Chg.

AED 1.94% Chg. 9.0% Close

ITHKingdom Ithmaar Bank 3 428 Hldg. Co.

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

Close

4 NBQNational Bank of Umm Al Qaiwain

Period's Liquidity 1 Ratio (PLR x)

-1

Abu Dhabi

MENA Best Performers

-3%

23-Apr-12

Tunisia Abu Dhabi

GCC Best Performers

Saudi

95 23-Jan-12 85

Saudi Dubai Dubai

-1%

-6%

Qatar Saudi

-4%

Palestine Palestine

90

-2%

Kuwait

Qatar BahrainOman Bahrain Dubai Saudi

-1%

100

Abu Dhabi

Abu Dhabi

0%

95

Kuwait

Qatar Oman

100

105

0%

Morocco

1%

Return DailyDaily Return (%)(%)

110

2%

Lebanon Oman

111

105

4%

Kuwait Kuwait

115110

Jordan

113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Egypt Jordan

120115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

641,987,045

42Jabal Omar Development Co.

7020.SSE Etihad Etisalat Co.

Close

% Chg.

28.10

-3.8%

30.10

-3.2%

13.05

-2.3%

11.80 68.00

-2.5% -0.4%

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

Close 78.75

Daily % Chg. 0.0%

High 79.25

Low 78.25

1 Alinma Bank

15.05

-1.0%

15.20

15.00

1 Arab National Bank

30.90

-1.0%

31.20

30.50

1 Bank Al Jazira

28.10

-3.8%

28.90

28.00

11.80

-2.5%

68.00

-0.4%

2 Almarai Co.

1 Bank AlBilad

64.50

30.10

1 Banque Saudi Fransi

38.90

4 Emaar the Economic City

13.05

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.

21.40

165.00

0.0%

-3.2%

717,116

64.00

35,202

29.90

43,412 3,222

3,465

28,426

39.00

38.50

-2.3%

13.65

13.00

1,138,371

21.10

641,987

0.2%

2.5%

-1.6%

2 Rabigh Refining & Petrochemical Co.

22.65

-2.2%

1 Samba Financial Grp.

51.75

35.70

30.90

91,847

0.0%

12.10

2 National Industrialization Co.

65.50

Turnover (SAR '000)

-0.8%

12.25

68.25

22.05

165.00 12.20

36.00

23.05

11.65

67.25

947,402 54,745

160.75

12,964

35.30

64,426

-0.5%

103.25

102.00

516,812

-1.1%

13.90

13.70

94,491

22.45

27,125

18.75

2,349

1 Saudi Hollandi Bank

29.00

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

21.70

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

35.00

21.95

21.55

21,703

17.60

177,280

34.30

10,205

36.40

2,711

-0.8%

19.10

17.95

42.10

41.50

78,377

1.5%

103.50

101.50

4,571

0.5%

51.50

50.50

16,997

9.15

800,662

0.6%

-0.5%

53.00

-1.4%

9.75

22.85

0.5%

36.80

51.25

154

-1.1%

-0.3%

103.00

22,668

28.70

19.00

42.00

95.00

47,920

29.00

-1.5%

17.80

33.70

0.0%

22.60

1.0%

35.10

37.00

53.75 9.75

-8.5%

31.90

26.60

15.75

-11.9%

6.05

-14.8%

68.25

50.00

-0.4%

161.75

101.83

83

40.00

30.00

85,987

13.60

6.20

79,300 807

29,554 79

-8.3%

13.85

21.35

11.10

52.50

79,505

1,807 794

13.10

50.75

26.90

7.05

35.10

23.10

2.0%

-7.6%

-29.7%

24.45

17.75

27.20

124

21.00

999

9,977

21.30

27.7%

-12.3%

91.9%

11,092,500

nmf

1.5

55.5%

62.0%

41.5% -6.8%

71.0%

-1.0%

16.8%

14.1%

1.8

2.4

-8.7%

308,250,000

10.5

2.2

5.7%

57,498,995

31,265,000

10.8 nmf

1.2

1.7

1.8

14,649,750

15.5

5.0

11,510,100

11.4

1.6

-15.3%

18.55

-16.9%

18.9%

-11.0%

10,170,000

19.2

1.7

15.55

-9.5%

17.6%

1.3%

10,450,000

14.8

1.2

15.50

-16.4%

23.70

-1.4%

10.2% 2.3%

4.3%

0.3%

83.25

47.50

-38.4%

-26.8%

-11.3%

5.25

-15.2%

75.7%

42.3%

11.50

8.1

nmf

1.8

12.85

-11.2%

-0.7%

nmf

2.2

10.9

4.9

334

84,075

19,900,196

19.3

2.6

11.0

62.50

56.25

44,841,176

nmf

44,625,000

3.5%

106.75

1,495

9,900,000

9.4

0.8

11.9

45

46.30

19,889,160

11.7

37,500,000

33.00

74

47,600,000

33.0%

-3.5%

42.50

35.50

12,744,000

-2.3%

6.8%

1.8

1.8

27.5%

1.4%

31.1

1.6

12.1

33.6%

7.3%

12.1

1.4

35,166,295

1,876 293

8,430,000

nmf

6.4%

-9.9%

16.30

1,196

2.6

46,575,000

6,834

21.42

27.6

26,265,000

-3.7%

-8.7%

29.30

9,030,000

-6.1%

63.1%

11.1%

87.75

5

3.6

-8.8%

-7.1%

112.50

55.50

22.5

19,841,400

5,033

98.00

25,800,000

-14.9%

-10.8%

237

18.7%

22,575,000

-2.6%

165.00 24.25

3.6

50.5%

29.5%

36.7%

PB

16.0

32.6%

18.5%

Trailing PE

118,125,000

62.8%

76.1%

Market Cap. (SAR '000)

3.6%

50.3%

77.6%

0.2%

12 mths

65.8%

-4.0%

200.00 37.50

12.4%

51.6%

15.5%

211

1,404

61.0%

-2.8%

42.40

102.75

13.80

17.20

33.70

32.90

56.75

2 Saudi Basic Industries Corp.

5 Saudi Electricity Co.

12.7%

226

37,929

96.75

-10.1%

-7.4%

11,763

178.50

0.0%

48.41

9.05

51.50

181.50

95.75

71.75

16.25

-24.0%

-1.4%

3 Saudi Cement Co.

13.3%

21.20

178.50

34.50

1,002

-4.8%

29.80

2 Saudi Arabian Fertilizer Co.

-2.0%

112

1,433

67.25

2,265

19,917

33.80

543

YTD

82.75

51,563

25.00

1 Saudi Arabian Mining Co.

47,529

on high

22.60

25.20

52.50

1,165

% Change

Low

690

-1.2%

-1.0%

High

8,375

12.10

25.00

1 Riyad Bank

52-Week

Volume ('000)

34.20

41.60

7,956,667

26,700,000

25.9

10.8 nmf

1.1

1.5

1.8

-1.2%

24.3%

17.3%

84,000,000

11.0

1.8

-3.5%

19.8%

64.8%

14,420,000

16.1

5.4

-20.5% -5.8%

22.0% -9.6%

20.5%

29.6%

-18.6%

5.5%

17,500,000

36,800,000

13.8

12.7

10,378,125

14.1

13,650,000

nmf

29,812,500

9.4

2.1

2.1

3.1

2.8

3.5

STOCKS WITH NBK CAPITAL

13

ALWATAN DAILY tuesday, april 24, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,327 (0.4%)

KSE General Index (% Chg.)

120

420 (0.1%)

KSE Weighted Index (% Chg.)

54%

% of stocks trading above 1yr avg. price 115

1.00

Advance/Decline Ratio

115

23-Apr-12

S&P GCC Large/Mid Composite

3.1%

2.480

1.6%

0.430

1.2%

Worst Performers Turnover (KWD) 1,426,050

K Kuwait Finance House

100

23-Mar-12

1.7%

Highest Turnover

103

23-Feb-12

0.600

28,323,447

Market Cap. (KWD '000)

95 23-Jan-12

BOUBYAN. Boubyan Bank

0.200

35,444

Turnover (KWD '000)

105

8.3%

IKARUS.KSIkarus Petroleum Industries Co.

467 / 396 BURG.KSE Burgan Bank

KSE Weighted Index 52 week High / Low

% Chg.

0.130

6,523 / 5,694 NMTC.KSE Wataniya

KSE General Index 52 week High / Low

110

Close AREFENRGAREF Energy Holding Co.

ZA Zain Kuwait

925,000

B Boubyan Petrochemical Co.

555,200

N National Bank of Kuwait

651,500

A Alafco Aviation Lease and Fin. Co.

449,000

Close SULTAN.KSSultan Center Food Products Co.

0.112

NRE.KSE

National Real Estate Co.

0.138

ABK.KSE

Al Ahli Bank of Kuwait

ALAFCO.KSAlafco Aviation Lease and Fin. Co.

% Chg. -3.5%

0.295

PCEM.KSE Kuwait Portland Cement Co.

-3.3%

-2.8%

0.870

-2.3%

0.600

-1.6%

KSE Weighted Index

Quotes Company Name

Close

A Agility

0.405

T Al Themar Intl. Holding Co.

0.087

A AREF Energy Holding Co.

0.130

A Al Ahli Bank of Kuwait

A Alafco Aviation Lease and Fin. Co.

Daily % Chg.

High

0.0%

0.600

-1.6%

0.295

-3.3%

0.600

1.7%

-

Low

0.410

0.400

-

-

Turnover (KWD '000) 206

0.600

306

0.295

449

0.590

413

0.430

0.425

366

-

-

0.610

0.305

0.130

0.120

390

0.620

-1.6%

0.630

0.620

555

A Burgan Co. for Well Drilling

0.260

-

C Commercial Bank of Kuwait

0.790

B Boubyan Petrochemical Co. B Burgan Bank

C Combined Grp Contracting Co. F Commercial Facilities Co. G Global Investment House

0.430

1.2%

1.680

-

-

-

-

-

-

-

-

0.260

0.0%

0.260

0.255

0.440

0.0%

0.440

0.435

0.395

-

-

-

0.049

G Gulf Bank

0.600

-

K Kuwait International Bank

0.280

K Kuwait Projects Co. (Holding)

0.320

F Kuwait Food Co.

1.360

P Kuwait Portland Cement Co.

0.460

895

0.630

0.530

-13.6%

0.700

-20.2%

-

16

0.100

269

0.280

6

0.460

5

0.255

0.055

8

0.019

1.680

80

1.240

0.214

0.138

0.295

0.236

-5.1%

10

0.630

0.415

2.7

nmf

-9.5%

-16.0%

1,158,558

37.8

-16.8%

-13.2%

179,283

nmf

0.0%

-1.1%

14.8%

0.0%

-24.4%

260,315

3.1

7.2

1.5

3.7

37.0%

150,000

17.8

1.0

281.4%

99,000

9.4

3.8

-60.0%

81,894

-1.8%

nmf

73,724

-23.3%

293,322

0.7

nmf

0.9

20.6

2.0

-20.0%

9.8%

-15.2%

290,451

26.8

1.4

0.0%

0.325

0.320

203

630

0.405

0.281

-21.0%

10.3%

-17.9%

427,704

14.2

0.870

162

336

1,460

N National Real Estate Co.

0.138

0.138

302

2,140

0.214

223

0.112

358 53

-2.8% -

0.9%

0.9%

-

0.152 0.144 -

0.216

0.230

-

-

-

-

-

-3.5%

0.089

0.0%

0.089

0.089

2.480

1.6%

2.480

2.420

-

0.0%

28

0.232

0.118

-

0.740

0.909

-5.7%

0.285

0.192

0.168

0.056

-

0.260 0.144 0.265

15.5

2.1

-18.6%

-10.8%

-17.1%

300,463

-17.9%

7.8%

27.8%

-8.8%

-48.1%

-49.8%

-5.7%

11.5%

13.7%

-12.6%

2.6%

2.480

1.880 0.690

-14.0%

-5.3%

1.4

129,680

nmf

0.7

87,370

235,400

-6.7%

-11.1%

64,829

-8.2%

15.6%

23.6%

163,298

0.0%

27.8%

29.2%

1,250,001

-38.3%

0.0%

-17.8%

118,952

0.0%

-38.3%

0.1

25.3

-

-7.5%

2.3

107,323

9.2%

0.0%

0.0%

21,780

-6.1%

-11.7%

50

1.200

10.7%

0.0%

-11.7%

0.067

1,250

0.0%

-26.4%

0.097

-

0.7

4,701,777

600

-

1.2

-2.6%

-17.6%

-

31.2

6.1%

0.0%

0.093

0.216

79,087

1.9

4.2

0.136

0.270

-43.5%

11.4

29.4

3,180

0.200

546,723

611,189

0.186

0.246

-11.7%

42.9%

0.226

-

925

27.9%

1,040

122

0.740

-2.0%

0.360

120

-8.1%

22.5%

0.285

-

-16.0% -44.9%

0.340

1,300

-

-

0.660

-

300

195

0.148

1.580

-

93

0.310

0.112

-

-

-

0.310

185

1.360

0.230

0.0%

0.880

1.620

0.232

0.0%

0.740

64,309

0.9

0.236

238

0.9%

Z Zain Kuwait

22.5%

1.9

9.8

0.350

323

0.232

N Wataniya

139,559

630

-

0.130

0.0%

-30.7%

nmf

174

1.360

N National Industries Grp. Holding

S The Securities House

0.0%

1,004,898

0.275

1.360

1.145

A The Commercial Real Estate Co.

4.0

-16.0%

1.0

0.280

608

0.236

16.4

0.0%

652

T Tamdeen Real Estate Co.

162,339

1.2

1.060

S Sultan Center Food Products Co.

-7.6%

36.7

1.080

0.232

6.3%

37.2

2,207,165

0.0%

0.214

1.5

54,503

4.3

1.2

-25.4%

1.080

S Salhia Real Estate Co.

13.1

34.3

-8.8%

0.691

A Qurain Petrochemicals Industries Co.

664,336

-44.7%

300,762

1.4

nmf

-24.0%

1.020

0.265

-14.9%

nmf

0.720

115

O Oula Fuel Marketing Co.

-4.9%

8.8%

97,500

1.000

117

0.148

1,048,941

1,895

1.000

N National Investments Company

-1.6%

1,426

1.020

0.310

1.7%

10.2%

1.5

0.750

0.0%

N National Industries Co.

1.0

5.8

0.760

0.0%

0.033

1.9

0.0%

1.000

N National Bank of Kuwait

-27.0%

0.5

20.0

230,033

17.6%

20

907,944

-22.4%

-6.5%

-7.2%

0.0%

-6.3%

-12.7%

-57.9%

0.120

nmf

-26.2%

0.096

0.485

-2.3%

M Mena Holding

-10.9%

0.242

0.870

M Mabanee Co.

-31.6%

2,660 80

88,088

0.0%

1.300

0.940

-13.0%

-16.0%

1.945

-

-4.4%

-4.6%

22.6%

-

PB

15.7

-38.1%

-17.9%

0.198

PE

423,969

10.7%

0.410

Trailing

Market Cap. (KWD '000)

-3.6%

-1.6%

0.524

12 mths

8.0%

22.6%

860

0.420

YTD

0.0%

0.285

36

-1.1%

-3.2%

0.085

0.620

0.495

0.450

0.460

0.530

0.130

700

-

0.450

0.760

-22.4%

3,040

9

-1.1%

K Kuwait Finance House

0.280

-

0.450

K Kuwait Cement Co.

0.380

-20.3%

JAJazeera Airways

0.280

1,500

0.425

0.194

0.0%

-16.3%

0.552

0.200

0.280

0.079

-8.7%

550

3.1%

K KIPCO Asset Management Co.

0.104

0.590

241

-

1.240

0.102

-

0.657

0.380

0.200

0.0%

-6.9%

30

IK Ikarus Petroleum Industries Co.

0.102

0.248

8

1.240

IF International Finance Co.

1.240

on high

0.435

-

-

% Change

Low

510

-

C Gulf Cable and Electrical Industries Co.

IF IFA Hotels & Resorts

0.0%

-

High

505

-

8.3%

B Boubyan Bank

52-Week

Volume ('000)

nmf

nmf

0.7

21.5

2.1

13.0

1.1

16.6

0.9

nmf

88,056

23.0

88,400

nmf

3,187,576

0.8

1.0

0.9

15.5

0.7

7.0

3.5

1.6

11.2

1.5

UAE Rebased Performance

Summary

Best Performers 1,641 (-0.6%)

DFM Index (% Chg.)

135

2,499 (0.1%)

ADSM Index (% Chg.)

Advance/Decline Ratio

DFM Index 52 week High / Low

123

Highest Turnover 106

105

E Emaar Properties E Etisalat

23-Feb-12 S&P GCC Large/Mid Composite

23-Mar-12 Abu Dhabi SE

10,120,918

TATamweel

23-Apr-12

3.1%

2.82

0.7%

2.1%

Worst Performers Turnover (AED) 39,908,116 DEYAAR.D Deyaar Development Co. 15,196,703 TAMWEEL Tamweel 10,123,380 DFM.DFM Dubai Financial Market

A Arabtec Holding

95 23-Jan-12

1.35

397,753,373

Market Cap. (AED '000)

115

115

6.4%

2.98

181,705

Turnover (AED '000)

9.0%

1.00

2,775 / 2,293 EMIRATES Emirates NBD

ADSM Index 52 week High / Low

% Chg.

1.94

59% ARKAN.AD Arkan Building Materials Co. 0.73 TAQA.ADS Abu Dhabi National Energy Co. 1,754 / 1,301 UNB.ADSM Union National Bank

% of stocks trading above 1yr avg. price

125

Close NBQ.ADSM National Bank of Umm Al Qaiwain

9,278,966

A ALDAR Properties

SIB.ADSM

Close

% Chg.

0.37

-3.4%

0.89

-2.2%

1.13

Sharjah Islamic Bank

DANA.ADS Dana Gas

-4.2%

1.14

0.46

-2.6% -2.1%

Dubai FM

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (AED '000)

A Abu Dhabi Commercial Bank

3.13

-1.0%

3.20

3.11

1,705

T Abu Dhabi National Energy Co.

1.35

3.1%

1.35

1.26

A Air Arabia

0.63

0.0%

0.63

0.62

1.02

-

A Abu Dhabi Islamic Bank

A Abu Dhabi National Hotels A ALDAR Properties A Amlak Finance

A Arabtec Holding

3.19

2.19

1.11

0.3% -

0.0%

3.21 -

3.17 -

69

51

1.63

1.14

1,294

2,069

177 -

3.39

15,197

-

3.40

-1.2%

A Arkan Building Materials Co.

1.00

6.4%

1.00

0.93

102

D Dana Gas

0.46

-2.1%

0.47

0.45

2,503

0.37

1,546

3.11

2,286

A Aramex

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

1.81

2.75 0.37

3.17

D Dubai Financial Market

1.13

D Dubai Islamic Bank

2.01

E Emirates NBD

2.82

E Emaar Properties E Etisalat F First Gulf Bank

G Gulf Cement Co. M Mashreq

N National Bank of Abu Dhabi N National Bank of Fujairah

N National Bank of Umm Al Qaiwain S Sharjah Islamic Bank

S Sorouh Real Estate Co. T Tamweel

-4.2%

0.0%

2.75

0.38

3.18

1.76

2.75

1.15

1.13

0.0%

2.02

1.98

0.7%

2.88

2.82

8.63 9.16

-0.4% 0.2%

91.45

-

1.09

1.81

-2.6%

-0.3%

-

3.33

8.66 9.17

-

-

3,308 413

9,022 1,600

-0.9%

1.11

1.09

-2.2%

1.14

-3.4%

1.09

U United Arab Bank

3.95

0.44

2.1%

-1.4% -

0.90 1.17 3.00

0.45 -

0.89

186

5,656

1.13

10,121

0.44

1,444

2.95 -

1,623 -

2,926,021

10.9

0.6

1,530,000

nmf

0.0%

2,190,000

20.7%

-33.9%

4,534,493

0.0%

0.0%

-40.5%

-1.0%

5,425

0.70

0.34

-34.3%

2.2%

150

4,152 728

7,947 798 3

-

10

-18.1%

1.96

3.24 0.46

3.63

1.42 2.28

1.69

2.75

0.20

2.80

4.63

1.50

-11.8%

2.65

-39.1%

0.67

-27.3%

3.00

209

1.02

0.80

8,812

1.49

5,176 544

3,280 -

2.24

1.51

-12.7%

1.88

4.70

5

-19.8%

-20.4%

74.70

9.00

-15.1%

0.68

102.00

35

-7.7%

7.38

9.7%

-4.4%

-23.5%

2.82

-23.6%

4.50

3.28

-12.2%

-11.1%

-35.2%

3,036,921

-3.7%

13.2

1.7

1.4

1.1

nmf

7.6

0.4

2.3

1.2

0.8

20,040,175

11.2

0.6

-16.6% 1.5%

68,229,988 27,480,000

11.7 7.4

1.7 1.0

22.4%

15,672,925

894,996 -

1.8%

33,321,202

1.0%

3,104,000

6.1%

-1.1%

7,436,963

8.5%

-21.0%

3,935,785

0.7

1.3

1.3

9.7

0.9

8.2

2,861,250

0.4

9.0

2,158,695

-10.8%

1.4%

nmf

18.8 17.7

3.1%

15.2%

6.2

4,961,000

-29.2%

70.5%

1.1

-5.7%

28.2% 89.1%

0.6

0.5

14,491,429

7,632,079

0.3

0.9

6.0

-2.2%

9,040,000

1.1

7.0

nmf

-25.9%

7.2%

5,605,468

12.5

2,108,970

53.5% 6.0%

2,650,021

9.9%

-25.8%

6.0%

-27.8%

nmf

-4.1%

-12.7%

0.67

1,750,000

-11.8%

-0.9%

7.1

-39.0%

-5.2%

3.6%

-4.0%

8.7

20.0

-22.6%

-9.9%

6.5

5,083,000

34.5%

-5.5% 18.6%

-13.4%

0.24

71.4%

-22.9% -14.8%

3.90

0.50

-0.4%

28.0%

1.63

0.53

0.6%

-4.4%

-10.3%

7,543,412

-25.0%

0.71

-

1.94

7.0%

-0.5%

1.68

-

1.94

-17.3%

102

1,837

-

9.0%

1.1

122.2%

-

1.94

12.9

113.8%

8.57 6.98

-

8,403,750

-6.3%

11.20 10.75

-

-12.9%

1.24

1,173 201

-

12.5%

-3.0%

3.63

10,123 1,841

-

-17.2%

0.9%

4,443

8.60 9.15

7

0.8

-10.1%

-32.7%

-

PB 5.8

0.76

-

PE

17,514,220

1.65

2.41

300

0.89

-

Trailing

Market Cap. (AED '000)

16.4%

-25.5%

0.57

12 mths

12.6%

2.02

0.76

YTD

-5.7%

2.94

3.44

8.60

-

8,395

2.92

12,133

8.60

-

-

3.55

39,908

0.0%

4.51

56

3.27

8.60

2.98

* Closing Prices, Turnover and Market Cap. in USD

0.0%

3.29

U Union National Bank U Union Properties

0.6%

on high

2.69

3.47

-

% Change

Low

3.32

9,279

-

High

544

1.10

1.12

52-Week

Volume ('000)

8.5

1,140,000

12.3

1,481,417

nmf

2.4

0.5

0.4

0.5

4.9

0.7

11.4

2.0

0.6

STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY tuesday, april 24, 2012

QATAR Rebased Performance

Summary

Best Performers 8,693 (-0.1%)

DSM Index (% Chg.)

120

DSM 52 week High / Low

50% IQCD.DSM Industries Qatar 0.44 QEWS.DSMQatar Electricity & Water Co. 8,892 / 8,071 DHBK.DSMDoha Bank

Market Cap. (QAR '000)

452,747,187

% of stocks trading above 1yr avg. price

Advance/Decline Ratio

115

324,316

Turnover (QAR '000)

110

103

Q Qatar Gas Transport Co. 23-Mar-12

S&P GCC Large/Mid Composite

13,031,315

Q Qatar Electricity & Water Co.

23-Apr-12

59.70

0.3%

0.8%

19.01

CBQK.DSMThe Commercial Bank of Qatar

0.1%

74.30

Turnover (QAR) 65,341,145 BRES.DSMBarwa Real Estate Co. 37,738,637 QIIK.DSM Qatar International Islamic Bank 13,379,355 QNNS.DSMQatar Navigation

MMasraf Al Rayan

23-Feb-12

1.4%

0.0%

Worst Performers

IQIndustries Qatar

90 23-Jan-12

% Chg.

145.00

141.90

ERES.DSMEzdan Real Estate Co.

Highest Turnover

100

Close

10,263,407

C The Commercial Bank of Qatar

QIBK.DSM Qatar Islamic Bank

QGTS.DSMQatar Gas Transport Co.

Close

% Chg.

27.50

-1.3%

51.40

-1.2%

69.40

-1.1%

16.55

-0.5%

77.30

-0.6%

Doha SM

Quotes Company Name A Aamal Co.

Close 19.00

Daily % Chg.

High -

Low

-

-

Turnover (QAR '000) -

K Al Khalij Commercial Bank

16.40

-0.3%

16.51

16.40

1,073

C The Commercial Bank of Qatar

74.30

0.0%

74.80

73.70

10,263

E Ezdan Real Estate Co.

19.01

0.1%

19.01

19.01

26

B Barwa Real Estate Co. D Doha Bank

27.50 59.70

-1.3%

0.3%

28.00

27.45

60.00

1,060

IQIndustries Qatar

145.00

1.4%

149.00

143.10

65,341

Q Qatar Electricity & Water Co.

141.90

0.8%

143.50

140.70

13,031

-1.2%

52.10

51.00

690

M Masraf Al Rayan

Q Qatar Gas Transport Co.

Q Qatar International Islamic Bank Q Qatar Islamic Bank

26.95 16.55

-0.5%

77.30

-0.6%

51.40

Q Qatar National Bank

134.00

Q Qatar Telecom

129.40

Q Qatar Navigation

69.40

V Vodafone Qatar

0.0%

8.54

27.30 16.69 78.40

-11.8%

3.1%

18,385,265

9.8

1.3

nmf

1.8

-16.2%

10,700,928

12.1

18.60

-23.9%

-14.4%

-17.7%

50,423,962

22.50

-4.1%

-3.2%

13.2%

20,212,500

16.55

-11.2%

-5.5%

-9.6%

76.30

-9.4%

-8.3%

-2.3%

18,265,464

-9.3%

-16.4%

7,948,049

11.3

13.1%

6.6%

7,219,716

nmf

50.00

446

148.50

118.80

92

148.00

129.50

13

56.20

45.50

38

141.73

122.73

36

284.77

127.70

112

8.52

1,927

226

1,391 806 87

28.10

18.63

85.30

87.50

69.40

9.22

7.24

-10.9% -2.4%

-4.1% -8.5%

-5.5%

-20.7%

-54.6% -7.4%

-6.9%

15.7%

9.0%

12,339,859

-1.7%

1.6%

79,750,000

-2.8%

-4.8%

14,190,000 9,166,118

9.6%

-3.0%

5.6%

-45.6%

-49.4%

0.9

9.7

1.9

10.3

3.3

14.4

2.4

10.9

4.7

11.2

4.7

12.8

1.7

7,780,354

11.6

93,763,745

12.0

22,774,400

1.1

8.9

24.97

67.00

1.6

-4.5%

-8.2%

5,904,000

PB

19.1

1

18

7,800 4,694

9,405,000

-11.5%

69.10

129.00

8.58

-17.3%

7.5%

Trailing PE

-13.1%

6,735

130.00

-0.1%

27.50

19.5%

Market Cap. (QAR '000)

68.00

77.30

-0.4%

33.25

-11.1%

12 mths

85.50

16.55

5,093

16.06

-21.1%

YTD

139

13,379

134.00

on high

15.40

18.44

289

% Change

Low

24.09

65

37,739

134.90 70.40

High

26.95

-0.3%

-1.1%

-

8,003

59.60

52-Week

Volume ('000)

1.7

2.3

0.8

8.8

1.1

1.1

OMAN Rebased Performance

Summary

Best Performers 5,959 (-0.2%)

MSM Index (% Chg.)

120

42% OCOI.MSM Oman Cement Co.

% of stocks trading above 1yr avg. price

0.20

Advance/Decline Ratio

115

Turnover (OMR '000)

7,057,412

Market Cap (OMR '000)

% Chg.

0.63

NBOB.MSMNational Bank of Oman

6,372 / 5,419 OTEL.MSMOman Telecommunications Co. 5,280 BKDB.MSMBank Dhofar

MSM 52 week High / Low

110

Close

BKMB.MSMBank Muscat

0.5%

0.30

0.0%

1.28

-0.2%

0.45

-0.4%

0.63

-0.6%

106

Highest Turnover

100

Worst Performers Turnover (OMR) 161,714 RCCI.MSM Raysut Cement Co. 145,644 RNSS.MSMRenaissance Services

B Bank Muscat

R Renaissance Services

125,076

O Oman Cement Co.

90 23-Jan-12

23-Feb-12

23-Mar-12

23-Apr-12

S&P GCC Large/Mid Composite

84,385

N National Bank of Oman

76,610

O Oman Telecommunications Co.

Close

% Chg.

1.07

-0.9%

0.65

BKMB.MSMBank Muscat

-0.9%

0.63

BKDB.MSMBank Dhofar

OTEL.MSMOman Telecommunications Co.

-0.6%

0.45

-0.4%

1.28

-0.2%

Muscat SM

Quotes Company Name

Close

B Bank Dhofar

0.454

N National Bank of Oman

0.302

O Oman Telecommunications Co. R Renaissance Services

B Bank Muscat

0.625

O Oman Cement Co.

R Raysut Cement Co.

Daily % Chg.

High

-0.4%

-0.6%

Low

0.454

0.453

0.629

Turnover (OMR '000) 35

0.623

162

0.623

125

1.070

40

0.302

0.301

1.281

-0.2%

1.285

1.280

77

0.645

-0.9%

0.640

146

1.070

0.5%

-0.9%

0.627

1.071

0.651

52-Week High

78

% Change

Low

0.549

259

84

0.0%

0.626

Volume ('000)

0.679

on high -17.3%

-0.2%

-17.0%

-3.2%

-1.3%

-2.1%

15.4%

18.3%

-38.4%

-8.0%

0.324

0.291

-6.8%

60

1.425

1.041

-10.1%

0.458

-38.7%

0.629

37

0.416

1.112

226

0.711

1.053

12 mths

0.423

0.572

279

200

YTD

-0.5%

-3.8%

-6.2%

44.9% 40.8%

Market Cap. (OMR '000)

Trailing PE

PB

499,453

12.5

334,624

9.8

1.2

8.6

1.9

-6.7%

1,122,996

3.0%

207,126

16.2

214,000

14.3

960,750

-2.4%

181,951

2.2

9.6

1.3

1.4

2.1

nmf

1.1

BAHRAIN Rebased Performance

Summary

Best Performers 1,151 (-0.5%)

BSE Index (% Chg.)

120

Advance/Decline Ratio

115

1,407 / 1,129 NBB.BSE National Bank of Bahrain 257 BATELCO.BBahrain Telecommunications Co.

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

110

6,509,400

Market Cap. (BHD '000)

Turnover (BHD) 58,773 UGB.BSE United Gulf Bank 38,468 BATELCO.BBahrain Telecommunications Co.

IT Ithmaar Bank

17,956

B Bahrain Telecommunications Co. 23-Feb-12 23-Mar-12 S&P GCC Large/Mid Composite

8,994

A Ahli United Bank

23-Apr-12 Bahrain SE

United Gulf Bank

% Chg.

0.13

8.7%

0.55

-0.9%

0.61

0.0%

0.47

-1.3%

0.27

-9.9%

Worst Performers

U United Gulf Bank

90 23-Jan-12

UGB.BSE

Highest Turnover

101

100

Close

26% ITHMR.BSE Ithmaar Bank 0.33 AUB.BSE Ahli United Bank

% of stocks trading above 1 yr avg. price

8,393

N National Bank of Bahrain

NBB.BSE

AUB.BSE

National Bank of Bahrain Ahli United Bank

ITHMR.BSE Ithmaar Bank

Close

% Chg.

0.27

-9.9%

0.47

-1.3%

0.61

0.0%

0.55

0.13

-0.9%

8.7%

Quotes Company Name

Close

Daily % Chg.

High

A Ahli United Bank*

0.610

0.0%

A Arab Banking Corp.*

0.420

-

B Albaraka Banking Grp.* B Bahrain Islamic Bank

B Bahrain Telecommunications Co. B BBK

IN Investcorp Bank* IT Ithmaar Bank*

N National Bank of Bahrain U United Gulf Bank

* Closing Prices, Turnover and Market Cap. in USD

0.930 0.088

-

0.472

-1.3%

797

-

0.400 0.125

0.545

0.274

-

Low

0.610

0.610

-

-

-

-

-

-

-

-

-

0.474

0.472

-

-

-

Turnover (BHD '000)

Volume ('000)

24 -

-

18

-

0.125

0.125

102

-9.9%

0.274

0.274

59

0.545

0.545

-

8.7%

-0.9%

39

8

38

52-Week High

% Change

Low

0.680

0.599

0.530

0.420

1.063 0.116

0.488

-26.3%

1,306,200

0.082

-24.1%

-2.2%

-24.1%

-6.1%

-3.4%

0.0%

92.3%

-35.4%

-8.7%

0.380

0.125

0.065

215

0.424

0.270

0.600

3,192,469

-14.6%

797

0.545

-20.8% 0.0%

0.0%

-9.2%

0.0% 0.0%

Market Cap. (BHD '000)

-7.9%

-0.4%

814 15

1.2%

12 mths

-12.5%

0.390

797

-10.3%

YTD

0.857

0.426

-

on high

0.0%

-6.5%

943,462

10.3

1.3

0.8

82,691

nmf

0.8

340,542

10.6

679,680

-30.0%

637,560

-5.2%

-9.2%

466,171

-32.5%

PB 8.0

0.0%

25.0%

Trailing PE

334,721

228,670

6.4 8.5

0.4

1.3

1.4

4.5

0.6

10.1

1.7

nmf

nmf

0.6 1.1

LIFE

Overcoming obstacles to exercise

Life’s problems often get in the way of your best intentions when it comes to exercise. The American Council on Exercise offers these possible solutions to combating exercise “saboteurs”: •When you’re stressed out, schedule time for even a very short workout. Exercise is a great way to fight intense stress, the council says.

•Don’t set unrealistic expectations, which can only result in frustration. Set goals that challenge you, but are attainable.

•Avoid overtraining, which can slow your progress. Instead, schedule some down time to help your body rest and recover.

•When something unexpected comes up, adjust your workout plan accordingly, but don’t eliminate exercise entirely.

TUESDAY, april 24, 2012

Arctic Ocean could be source of greenhouse gas

FILE - The Arctic Ocean could be a significant contributor of methane, a powerful greenhouse gas, scientists reported on Sunday. (AFP)

Warming set to make corn prices pop

PARIS: Climate change will more than quadruple US corn prices in years of peak volatility, environmental scientists said on Sunday.

In a study of the factors that drive up prices in the world’s key market for corn, more frequent heatwaves, predicted as a result of global warming, proved far more important than government policies to promote biofuels or than higher oil prices.

“Severe heat is the big hammer,” said Noah Diffenbaugh of Stanford University in California.

“Even one or two degrees of global warming is likely to substantially increase heatwaves that lead to low-yield years and more price volatility.”

The study found that climate change would increase year-on-year corn price volatility by a factor of 4.1.

The fluctuations were based on a projection for 2020-40 compared to volatility in recent history.

The study, published in Nature Climate Change, used a computer scenario based on warming that ultimately reaches 2.0 degrees Celsius (3.6 degrees Fahrenheit) over pre-industrial times.

Many climate scientists say 2 C (3.6 F), enshrined as a goal by the UN, is an under-estimate. Current trends of carbon emissions are placing Earth on a track for warming of 3 C (5.4 F) or more, according to some estimates. This figure is the overall global average, so it disguises big regional variations, including seasonal bouts of extreme weather.

Before the results of the study became clear, it was not obvious to Diffenaugh that climate change would be a more important factor than higher oil prices or government policies to promote biofuels.

“Frankly, I was surprised that climate had the largest effect of these three influences. These are substantial changes in price volatility that come from relatively moderate global warming,” Diffenaugh

noted. The researchers found that climate’s yo-yo effect was accentuated by government support for biofuels.

By growing corn for fuel, this removed a buffer of surplus grain, making the market more inelastic.

“Our results suggest that energy policy decisions are likely to interact with climate change to affect corn price volatility, and that the market effect of a binding biofuel mandate is likely to intensify as the climate warms,” said Diffenbaugh.

Unless corn farmers increase their crops’ heat tolerance by as much as 3.3 C (6 F), areas of high production will have to move north from the current US corn belt, the researchers said in a press release.

“By the time today’s elementary schoolers graduate from college, the US corn belt could be forced to move to the Canadian border to escape devastating heat waves brought on by rising global temperatures,” it said. -AFP

Cause of brain freeze revealed PARIS: The Arctic Ocean could be a significant contributor of methane, a powerful greenhouse gas, scientists reported on Sunday.

Researchers carried out five flights in 2009 and 2010 to measure atmospheric methane in latitudes as high as 82 degrees north.

They found concentrations of the gas close to the ocean surface, especially in areas where sea ice had cracked or broken up.

The study, published in the journal Nature Geoscience, wonders if this is a disturbing new mechanism that could accelerate global warming.

“We suggest that the surface waters of the Arctic Ocean represent a potentially important source of methane, which could prove sensitive to changes in sea-ice cover,” it says.

If so, the Arctic Ocean would add to several identified “positive feedbacks” in Earth’s climate system which ramp up the greenhouse effect.

One such vicious circle is the release of methane from Siberian and North American permafrost. The thawing soil releases methane that has been locked up for millions of years, which adds to global warming -which in turns frees more methane, and so on.

But this is the first evidence that points to a meth-

ane contribution from the ocean, not the land, in Arctic latitudes. Levels of methane in the atmosphere are relatively low, but the gas is 20 times more effective that carbon dioxide (CO2) at trapping solar heat.

Scientists have been struggling to understand the movements of the methane curve.

There was a rapid increase in levels due to postWorld War II industrialization, followed by a period of relative stability in the 1990s and more recently, by another rise.

The new paper, led by Eric Kort at the California Institute of Technology Caltech), says measurements of methane over some parts of the ocean were comparable to coastal eastern Siberia where there has been permafrost thaw.

Noting that around 10 million square kilometers (3.86 million square miles) of the Arctic Ocean are subject to summer melting of sea ice, “the emissions rate we encountered could present a source of global consequence,” it says. The source of the sea methane is unclear, it stresses.

The gas is unlikely to have been belched from sediment in the continental shelf as it was found at locations over the deep ocean. One idea is that it comes from microbes at the ocean surface. -AFP

Gene points to weakness in MRSA superbug PARIS: Asian outbreaks of a notorious antibioticresistant super-germ are being driven by a gene that helps the bug colonizes the nostrils, lungs and skin and evade the immune defenses, scientists said on Sunday.

So-called methicillin-resistant Staphylococcus aureus (MRSA) is a major worry for hospitals because of its ability to hole up in wounds, tubes and surgical devices, infecting patients whose immune system is already weak. MRSA outbreaks happen in waves as new strains of the bacterium take over from older configurations. But how these epidemics become established is a process that genetically has until now been unclear.

Reporting in the journal Nature Medicine, researchers in the United States and China say they found the key gene, sasX, in samples taken from 807 patients who

had been treated for S. aureus in three Chinese hospitals over the past 10 years.

Once extremely rare, sasX became more and more common, nearly doubling in frequency from 21 percent of samples in 2003 to 39 percent in 2011, they found.

At present, sasX is prominent in Asian strains of MRSA that have been detected, but it is likely to spread beyond the region, according to the report.

The gene is located in a so-called mobile genetic element, meaning that it is in a segment of DNA that can easily transfer from an old strain to a new one.

However, sasX “is a promising target” for drugs or vaccines, says the study, led by Michael Otto of the US National Institute of Allergy and Infectious Diseases (NIAID). -AFP

NASA mascot Camilla hits the stratosphere

Camilla the rubber chicken is seen at 124,800 feet (38,039 m) above California. (Reuters)

LONDON: In a knitted spacesuit and tight-fitting helmet, Camilla the rubber chicken floated to the edge of space in a modified lunchbox as the sun unleashed the most intense radiation storm since 2003 according to The Guardian.

The mascot for NASA’s Solar Dynamics Observatory was lofted to the stratosphere on a helium balloon that carried a payload of four cameras, a thermometer and two GPS trackers.

The mission by students at Bishop Union High School flew on 3 March during the calm before the storm, and again a week later, when the storm was at its peak. During each flight, Camilla spent 90 minutes in the stratosphere, where temperatures fell to -60C. Camilla was snapped at 38,039m above California before the helium balloon popped, as planned, and fell to Earth on a parachute. The chicken and the payload were retrieved intact from a small range of mountains east of the Sierra Nevada.

The source of the radiation storm was a sunspot called AR1429, which unleashed more than 50 solar flares in the first two weeks of March. According to NASA, at the peak of the storm, charged particles slamming into the upper atmosphere released enough heat in three days to power New York City for two years.

Carried aboard the mission was an astrobiology experiment that subjected seven insects and 24 sunflower seeds to the extremes of near-space altitudes. The sunflower seeds were a variety known as “Sunspot” or Helianthus annuus.

None of the insects survived the mission, but students have pinned their corpses to a black “Foamboard of Death”, a rare collection of bugs that have nearly made it to space.

“Camilla’s trip to the stratosphere gave us a chance to talk to thousands of people about the radiation storm,” said Romeo Durscher, who looks after the rubber chicken at Stanford University.

NEW YORK: Most people have likely experienced brain freeze - the debilitating, instantaneous pain in the temples after eating something frozen - but researchers didn’t really understand what causes it, until now according to LiveScience.

Previous studies have found that migraine sufferers are actually more likely to get brain freeze than people who don’t get migraines. Because of this, the researchers thought the two might share some kind of common mechanism or cause, so they decided to use brain freeze to study migraines.

Headaches like migraines are difficult to study, because they are unpredictable. Researchers aren’t able to monitor a whole one from start to finish in the lab. They can give drugs to induce migraines, but those can also have side effects that interfere with the results. Brain freeze can quickly and easily be used to start a headache in the lab, and it also ends quickly, which makes monitoring the entire event easy. The researchers brought on brain freeze in the lab by having 13 healthy volunteers sip ice water through a straw right up against the roof of their mouth. The volunteers raised their hands when they felt the familiar brain freeze come on, and raised them again once it disappeared.

The researchers monitored the blood flow through their brains using an ultrasoundlike process on the skull. They saw that increased blood flow to the brain through a blood vessel called the anterior cerebral artery, which is located in the middle of the brain behind the eyes. This increase in flow and resulting increase in size in this artery brought on the pain associated with brain freeze.

When the artery constricts, reining in the response to this increased flow, the pain disappears. The dilation, then quick constriction, of this blood vessel may be a type of self-defense for the brain, the researchers suggested.

“The brain is one of the relatively important organs in the body, and it needs to be working all the time,” study researcher Jorge Serrador, of Harvard Medical School, said in a statement.

“It’s fairly sensitive to temperature, so vasodilatation [the widening of the blood vessels] might be moving warm blood inside tissue to make sure the brain stays warm.”

This influx of blood can’t be cleared as quickly as it is coming in during the brain freeze, so it could raise the pressure inside the skull and induce pain that way. As the pressure and temperature in the brain rise, the blood vessel constricts, reducing pressure in the brain before it reaches dangerous levels.

If other headaches work in the same way, drugs that stop these blood vessels from opening up, or that could make this blood vessel constrict could help treat them, the researchers say.

FILE - Brain freeze is a nearly universal experience that researchers now believe if related to local changes in brain blood flow. (Agencies)

Russian scientists in quest to find elusive white orca PARIS: A team of Russian scientists say they will embark on a quest next week to observe the only all-white, adult killer whale ever spotted -- a majestic and elusive bull they have named Iceberg. The researchers from the universities of Moscow and Saint Petersburg first spotted the orca’s towering, two-meter dorsal fin break the surface near the Commander Islands in the North Pacific in August 2010. Living in a pod with 12 other family members, Iceberg was deemed to be at least 16 years old, given the size of his dorsal fin, said Erich Hoyt, co-director of the Far East Russia Orca Project (FEROP).

“This is the first time we have ever seen an all-white, mature male orca,” Hoyt told AFP. “It is a breathtakingly beautiful animal.”

The scientists decided to hold back on releasing photographs of Iceberg until they were able to study him further, “but we have been looking for him ever since,” said Hoyt. Orcas can travel thousands of kilometers (miles).

The scientists would like to establish whether Iceberg is albino -- a genetic condition that leaves animals unable to produce melanin, a dark pigment of skin, hair and the eye’s retina and iris.

Many albino animals never grow into adulthood. Their visibility is a disadvantage in the hunt for food and protection against predators.

Two other white orcas are known to live in the waters where Iceberg was spotted, east of Kamtchatka peninsula in Russia’s far-east, but they are juveniles.

In 1970, a two-year-old white orca, Chimo, was captured in Canada for a

dolphinarium, and was diagnosed with a type of albinism after its death two years later.

The FEROP team will set out for Bering Island next week as art of a project to study the social behavior and communication of the Kamchatkan orca population, which they say is under threat from overfishing and plans to expand oil and gas exploration. -AFP

A killer whale swims in 2007. A team of Russian scientists say they will embark on a quest next week to observe the only all-white, adult killer whale ever spotted -- a majestic and elusive bull they have named Iceberg. (AFP)

Shingles vaccine safe, underutilized, study says

CONNECTICUT: The shingles vaccine is generally safe and well tolerated by patients, according to a new study reports HealthDay News.

Shingles, which affects more than 1 million people each year in the United States, is a painful contagious rash caused by the dormant chickenpox virus, which can reactivate and replicate, damaging the nervous system.

Elderly people are especially at risk because immunity against the virus that causes shingles declines with age.

In this study, researchers looked at data from more than 193,000 adults 50 and older who received the shingles vaccine, also known as the herpes zoster vaccine, over two years.

There was a small increased risk of local reactions (redness and pain) from one to seven days after vaccination. This find-

ing matches the results of clinical trials.

The shingles vaccine did not increase the risk for cerebrovascular diseases; cardiovascular diseases; meningitis, encephalitis, and encephalopathy; Ramsay-Hunt syndrome; or Bell’s palsy, the researchers said.

The study supports the vaccination recommendation from the U.S. Centers for Disease Control and Prevention’s Advisory Committee on Immunization Practices “and reassures the general public that the vaccine is safe,” study author Hung Fu Tseng, a research scientist with the Kaiser Permanente in Pasadena, Calif., said in a Kaiser news release. Few people received the vaccine, which was licensed in 2006, the news release said. The CDC recommends it for healthy people aged 60 and older.

16

ALWATAN DAILY

CULTURE

TUESDAY, april 24, 2012

Ferrari’s Montezemolo launches high-speed train NAPLES: As Europe’s first privately owned high-speed train hit 300 kph just outside Naples, Ferrari chairman Luca Cordero di Montezemolo smiled at the suggestion that he was addicted to risk and velocity.

“Yes,” he said. “Yes, speed and risk, risk in terms of economic risk. I think an entrepreneur has to risk, if not, he is not an entrepreneur anymore.”

Montezemolo and a consortium of private investors are taking a 1 billion euro ($1.3 billion) risk that they can provide better high-speed train service between major Italian cities than state-run Trenitalia, taking advantage of a 2006 European Union move to open up track to competition.

“We have brought an end to one of the longest monopolies in the history of our country. Finally, Italian travelers and tourists can choose,” he said.

The new company, called NTV, or Nuovo Trasporto Viaggiatori, starts service between Rome and eight other Italian cities on April 28 and will eventually have 25 trains - a new type of locomotive-free rolling stock that has an engine under each car to increase capacity.

Montezemolo and businessmen Diego Della Valle of luxury goods maker Tod’s, Gianni Punzo and Giuseppe Sciarrone founded the startup in 2006.

They were later joined by Banca Intesa San Paolo, Italy’s largest insurer Generali, businessman Alberto Bombassei from Brembo brake company and French state railway company SNCF, which took a 20 percent stake and provides know-how.

But Montezemolo, chairman of NTV, is clearly the leading man in a high-profile business script aimed at snatching 25 percent of Italy’s high-speed train market by 2014 and breaking even the same year. It hopes to attract 8-9 million passengers a year by then.

Chiara Pelizzoni, a transport analyst for Nomisma, said NTV will not have too many problems attracting customers in the high-speed market.

“The high end of the market will be easier to sell. There

has a breathless business resume and aristocratic family lineage that fuels his confident, can-do style like high-octane petrol fuels a Ferrari.

He organized the 1990 World Cup football tournament, was chairman of carmaker Fiat, managed Italy’s America’s Cup sailing race challenge team, headed the powerful business lobby Confindustria and is now running Fiat’s Ferrari division.

New Entrepreneurial Challenge

Luca Cordero di Montezemolo, president for the NTV, waves as he poses in front of the new high-speed train “Italo” at the Naples central station, April 20, 2012. (Reuters)

are customers willing to pay for good services and from an industrial plan point of view they have a good, experienced partner in SNCF,” he said.

“The real challenge will be if they try to enter the mar-

ket for regional routes, where it is much more complicated to make money and where there are more regulations,” she said. The dapper Montezemolo, who looks younger than his 64 years and sports a Bobby Kennedy-esque mane of hair,

Shakespeare in Jericho echoes year of Arab strife JERICHO, West Bank: A Shakespearean drama depicting the downfall of a prideful medieval king carried a modern-day message for a Palestinian audience that has watched upheaval play out in the Middle East.

The Ashtar theatre company, based in Ramallah in the occupied West Bank, delivered “Richard II” in the open-air courtyard of a ruined 8th-century palace in Jericho, one of the world’s most ancient cities. The production this month bridged the distance between high political drama of the past and present.

Framed in classical Arabic but attired in the military fatigues and the republican regalia of the Arab dictators ripped from power last year by deadly revolutions, the produc-

tion probes the psyche of rulers doomed by the Arab Spring. “Are you contented to resign the crown?” the rebelling Lord Bolingbroke, leaning impatiently on the already usurped throne, asks the King.

“Yes, no. No, yes,” Richard stutters, igniting a roar of laughter from the local audience too familiar with similar jibes aimed at Egyptian President Hosni Mubarak and Yemen’s Ali Abdullah Saleh in their waning days.

“Was this the face that, like the sun, used to make those who looked upon it blink?” the king then blubbers into a mirror, echoing the ranting self-praise of Libya’s Muammar Gadaffi before revolt, as it did with the title character, led to his murder last year.

TRAVEL

From prison cells to factories: Berlin has many wacky hotels BERLIN: Lovers of quirky hotels need look no further than Berlin where it is possible to spend a night in a former East German prison cell, an open-air swimming baths or even a coffin, with a history lesson also sometimes thrown in for good measure. Visitors to the Propeller Island City Lodge near the famous Kurfuerstendamm shopping district are given operating instructions for their room when checking in.

No two rooms are the same as the Lodge promises unlimited diversity in what it calls a habitable work of art in the heart of Berlin. Repeating nothing and copying nothing are the guiding principles here.

Lion cages on wooden stilts can be found in one room, other guests can spend the night in a coffin in a crypt, while there is also the option of the upside down room where the bed hangs upside down from the ceiling. There is even a prison cell with the toilet sitting in the bedroom.

Christian Taenzler from the Visit Berlin tourist authority says there are between 10 and 15 hotels in the German capital which offer a completely different experience to the usual fare.

“The most entertaining ones have only opened up in the past two or three years,” says Taenzler, who believes the reason for such diversity is down to economic reasons.

“Berlin is one of the most challenging hotel markets in the world so anyone who discovers a niche certainly has better survival chances,” he explains.

Many tourists travel to Berlin with the expectation that the city is exceptionally creative, unusual and a little wild. Hotels like Propeller Island fit that image perfectly.

Another unusual hotel is Ostel which is situated in a GDR pre-fabricated building near the Ostbahnhof train station and tries to give its guests a taste of life in the Communist East Berlin of the 1970s and 1980s.

The hotel is kitted out in original GDR furniture

FILE - Caravans like this are parked in the Huettenpalast, a former vacuumcleaner factory in Berlin, to provide an unusual accommodation feature in the German capital. (dpa)

Timeless, Universal

Organizers said the Palestinian company’s production was not about the Arab Spring per se and worked in themes, though manifest in the current uprisings, not bound by time or borders.

“We were amazed how deeply the play delves into the psychology of people and this moment in history,” said actress and producer Iman Aoun.

“It’s as if people and politicians don’t learn.

They keep repeating their behavior and it makes us realize how much the play resembles the present,” she said.

The fact that the original script and staging were left largely untouched made the per-

while the walls are adorned with pictures of former Communist leader Erich Honecker.

While Ostel playfully remembers design life in the GDR, Das andere Haus VIII deals with the more serious side of living under a dictatorship.

The hotel is situated in a red-brick building that used to be a medical ward in the former GDR prison in Rummelsburg. Each cell was bugged and locked with a heavy metal door while there were also cells with no light. Political leaders such as Honecker and Minister of State Security Erich Mielke were held here briefly following the collapse of the Berlin Wall but now tourists travel to Rummelsburg voluntarily in order to spend a night in the former prison.

There is a “Silent Room” in the basement to remember the building’s grim history.

The hotel boat Eastern Comfort is anchored beside the historic Oberbaumbruecke bridge, which was once a border crossing point between East and West Berlin.

The internationally renowned East Side Gallery, which is also the longest stretch of Berlin Wall remaining, is also nearby.

Tourists travelling on a limited budget can bring their own sleeping bag and spend the night on the ship’s deck. The boat’s engine does not work and nonswimmers, animals and children under the age of six are not allowed on board.

The Scube Park uses space at an open-air swimming pool and will open this spring in the Neukoelln district.

The accommodation consists of 40 wooden blocks positioned on a 2,000-square-metre space, which can be lived in all year round. Each block can fit up to four people but swimming in the pool is not allowed during the hours of darkness.

It is also possible to camp on the production floor of a former vacuum cleaner factory in the heart of Neukoelln. The Huettenpalast offers wooden huts and restored caravans dating back to the 1950s. -dpa

But a startup was a new challenge, even for him. “This is the first time that I have developed a company from scratch, from zero, from a blank page. Four years ago there was nothing, no train, no people, no organization, nothing,” he said as the train sped toward Rome.

He enthuses about the train as if it were one of his Ferrari Formula One race cars and it is a safe bet that the choice of red as the NTV’s dominant color is probably no coincidence.

“This is the quickest train today. There is no other train like it. This train can go 360 kilometers an hour but we are obliged not to go faster than 300,” he said, referring to the limits of the infrastructure of the Italian rail system.

The 450-seat NTV trains, dubbed Italo and painted red, gold and gray, use high-speed AGV cars built by French transport and power engineering group Alstom.

The AGV is quieter and cheaper to run than its predecessor the TGV and has 20 percent more passenger space because its motors are placed under each car, instead of in locomotives at either end.

“Can you believe we are going at 300 kilometers an hour?” he asked as the streamlined train sped quietly between Naples and Rome on a trip for the media last Friday.

Indeed, if it were not for the Italian countryside flashing outside the big, oversized windows and a slight murmur inside, a passenger might think the train was standing still.

-Reuters

formance’s apparent commentary on current events more uncanny.

But a few changes rendered its modern references clear, as when a crowd of masked, flag-waving protesters storms the palace and shouts, “the people want Bolingbroke!” a variant of the slogan “the people want the fall of the regime” chanted in public squares from Tunis to Manama.

Later, when the hapless queen overhears two gardeners discussing her husband’s imminent overthrow, added lines emphasize her devotion and obliviousness, calling to mind Syrian first lady Basma al-Assad.

“Why am I always the last to know!” she cries, lamenting, “All anyone ever talks about

is politics these days” to the audible glee of a likewise news-weary audience.

The troupe is set to perform next month in London’s Globe Theatre, Shakespeare’s original venue, and actors express little doubt that its message will have the same resonance in its home country, even if long-removed from the kind of strife visiting the Middle East.

“All theatre carries in it a strong political message,” noted Sami Metwasi, a Palestinian living in Jordan who plays the deposed king.

“Political history is common among peoples. Just as this play resembles many events in the West, it obviously resembles many of the events occurring now in our region, and is a mirror of our situation,” he said. -Reuters

Tuaregs divided over rebellion’s Islamist imprint

FILE - A Tuareg rebel belonging to the MNLA, with one of the group’s pick-up trucks behind him. (dpa)

PARIS: They scattered to the four winds, across the Sahara Desert. Some fled north to Algeria on camel back; others hitched rides with passing trucks west to Mauritania or south to Burkina Faso.

As Tuareg rebels and allied Islamist fighters swept through northern Mali last month taking advantage of a coup to snatch territory, thousands of Tuareg families packed up their desert camps and melted away into the desert.

“It was a case of every family for themselves,” said Shindouk Mohamed Lamine Ould Najim, chief of a 2,000-strong tribe from a settlement 120 kilometers north of Timbuktu that has been dispersed across refugee camps in three countries.

The Ould Najim are one of the few Tuareg tribes still carrying on the centuries-old trans-Saharan caravan salt trade.

They broadly support the rebels’ push for greater autonomy for northern Mali.

But they also feared what has been unleashed.

“People feared their camps would be bombarded by the Malian army. But more than that they feared the Islamists,” Shindouk told dpa in a phone interview from Canada, where is currently staying with his Canadian wife and son.

Known as the Blue People after the indigo blue of their robes, the Tuaregs, who live and roam across parts of Mali, Niger, Algeria, Libya and Burkina Faso, are no strangers to rebellion.

The uprising by the National Movement for the Liberation of Azawad

(MNLA) - the fourth Tuareg uprising in Mali in half a century - is rooted in decades of neglect by the Bamako government of the remote north and the lighterskinned Tuaregs, referred to as “whites”.

The rebellions of 1963 and 1990 were brutally repressed, leaving a legacy of bitterness that a 1996 peace deal failed to erase. And while the government has taken steps to integrate the Tuaregs into the civil service and army, the development of the hunger-stalked north continues to lag that of the south.

“The north of Mali has been marginalized for 50 years. We want to live in a place where you don’t have to travel six days by camel to find a clinic when your child is sick,” Shindouk says.

He supports greater autonomy for the north but balks at an independent state that would struggle to secure international recognition.

Above all, he worries about the alliance between the MNLA and an Islamist offshoot Ansar Dine that has declared sharia law in Gao and Timbuktu and which has links to al-Qaeda in Islamic Maghreb (AQIM), a group that has kidnapped a number of Westerners in the region.

“Tuareg women are the freest in the world. They will never wear a mosquito net (burqa)!” Shindouk says, confirming the reputation of Tuareg women as being the ones who rule the roost.

“We are Muslims but we want to live in a country where people can express themselves freely - whether half-veiled or

fully veiled,” he added.

French historian Pierre Boilley, an expert on Tuareg culture, describes the Islam practised by the Tuaregs as “tolerant and moderate”, in contrast with the hardline Salafi Muslim teachings of Ansar Dine.

“Among the Tuaregs, it’s the men who are veiled and the women who live with their faces uncovered, speak freely with men and have real power,” Boilley told Liberation newspaper on Monday.

And yet some Tuareg leaders welcome Ansar Dine’s agenda to “purge” northern Mali of what they see as “bad influences.”

“In the City of 333 Saints (Timbuktu) people are building bars and nightclubs.

It’s not good. We need to preach piety,” Adel Mahmoud Ben Sherif, a community leader in Araouane, a settlement about 260 kilometres north of Timbuktu, told dpa.

The price of both the rebellion and push to islamicize the region could be the waste of years of painstaking efforts to build up tourism.

Since 2001, thousands of young Western tourists have bumped and ground across desert tracks to see Tuareg groups such as Tinariwen play and perform their mesmerizing saber dance at the annual Festival in the Desert.

At the 2010 edition, the master of ceremonies waxed lyrical about how the strumming of guitars had replaced the sound of Kalashnikovs in the region.

He evidently spoke too soon. -dpa

ALWATAN DAILY

entertainment Song Of The Day

Fahad AlSabah

Staff Writer

Song: The Laughing Track (Feat. Style of Eyre & Carli) Artist: Crookers Album: Dr. Gonzo Genre: Alternative In short: Imagine a song with no lyrics and only people laughing throughout the whole song over a crazy collection of beats and you’ll have “The Laughing Track”. A must-listen, if only to hear something new.

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

The Buzz Giuliana and Bill Rancic are expecting a baby Giuliana and Bill Rancic are having a baby. The child will be born later this summer via a gestational surrogate, meaning the baby will be genetically theirs but carried by another woman. E! News first reported the news that they are expecting. Last fall, 37-year-old Giuliana announced she had breast cancer and later underwent a double mastectomy. She did not need chemotherapy. Giuliana is the host of E! News. Bill is a 40-year-old entrepreneur and motivational speaker who won the first season of Donald Trump’s “The Apprentice.” Together, they co-star in a reality show on the Style Network called “Giuliana & Bill.” Much of the show has been devoted to their fertility issues. -AP

Neil Diamond marries for third time Neil Diamond has married his manager Katie McNeil in front of family and close friends in Los Angeles, People magazine said on Sunday. The 71-year-old singer songwriter, who has written and performed dozens of hits including “Sweet Caroline,” wed McNeil on Saturday, several months before he kicks of another tour in the United States on June 1. It is the third marriage for Diamond and first for McNeil, 42. Also on Saturday, British actress Carey Mulligan married Mumford & Sons singer Marcus Mumford on a farm in Somerset, England, in front of approximately 200 guests, the magazine reported. -Reuters

Hong Kong pop star Eason Chan sells out in London Hong Kong superstar Eason Chan’s world tour has an unofficial catch-phrase: “Who the hell is Eason Chan?” The singer says that was the question a ticket seller asked after he sold out London’s O2 Arena in around 20 minutes and crashed the venue’s servers. Millions of fans already know the answer: The 37-year-old has released 30-plus solo albums and is one of the best-selling Mandarin and Cantonese pop artists. Chan, the first Chinese artist to play at the prestigious arena, says he was surprised at the high demand for Monday night’s Duo World Tour concert. But, Chan told reporters on Sunday: “It doesn’t matter what language you sing in, what makes it universal is the energy that you give out.” This is his second appearance on a London stage after performing at the Royal Albert Hall in 2010. -AP

Actors, artists aim to turn around failing schools Sarah Jessica Parker, Kerry Washington and Forest Whitaker are signing up for a new initiative with the Obama administration to adopt failing schools and help turn them around by integrating arts education throughout the schools. On Monday, the President’s Committee on the Arts and the Humanities will announce a new Turnaround Arts initiative for eight schools with officials from the White House and US Department of Education. Artist Chuck Close, cellist YoYo Ma, dancer Damian Woetzel and actress Alfre Woodard also are adopting schools in the two-year program. Organizers selected low-performing, high-poverty elementary and middle schools to participate. They are in New Orleans; Denver; Boston; Washington; Des Moines, Iowa; Portland, Ore.; Bridgeport, Conn.; and Lame Deer, Mont. Each school was receiving a federal School Improvement Grant to help boost achievement. -AP

Think Like a Man ends Hunger Games streak The box office competition finally overwhelmed “The Hunger Games” as the romantic comedy “Think Like a Man” beat expectations with a chart-topping $33.0 million in US and Canadian ticket sales over the weekend. Love story “The Lucky One” also exceeded forecasts to finish second with $22.8 million from Friday through Sunday, according to studio estimates. The two films pushed the blockbuster “Hunger Games” to third, ending its four-week streak at No. 1. “Think Like a Man” is based on comedian Steve Harvey’s best-selling, non-fiction relationship guide “Act Like a Lady, Think Like a Man.” The movie follows four couples trying to work out various issues and stars Gabrielle Union, Kevin Hart, Michael Ealy, Romany Malco, hip-hop singer Chris Brown and Oscar-nominated actress Taraji P. Henson.

Harvey was executive producer and has a small role playing himself. The film cost a modest $13 million to make, and received positive feedback in pre-release screenings, said Rory Bruer, president of worldwide distribution for Sony Corp’s Sony Pictures studio. “We definitely felt like we had a hit coming,” Bruer said. Still, the weekend performance “exceeded everyone’s expectations,” he said. Audiences gave “Think Like a Man” an “A” grade in polling by survey firm CinemaScore. -Reuters

TUESDAY, april 24, 2012

17

Hudson family murder trial starts in earnest CHICAGO: A gift of balloons. That, prosecutors contend, is what sent singer Jennifer Hudson’s then brother-in-law into such a jealous rage that he shot dead her mother, brother and 7-year-old nephew in a horrific act of vindictiveness in the home where the Hollywood star grew up.

A prosecutor is expected to tell jurors that Monday during opening statements at the trial of William Balfour. He is charged with three counts of first-degree murder in the Oct. 24, 2008, slayings that generated nationwide headlines because of Hudson’s fame.

The estranged husband of Hudson’s sister, Balfour believed the balloons he saw at the Hudson home came from Julia Hudson’s new boyfriend; driving away for her job as a school bus driver, she glimpsed Balfour in her mirror still lingering outside, prosecutors have said.

They say Balfour went back inside the three-story house around 9 a.m. and used a .45-caliber handgun to kill Hudson’s mother, 57-year-old Darnell Donerson, in the living room, and then shot her 29-year-old brother, Jason Hudson, twice in the head as he lay in bed.

He allegedly drove off in Jason Hudson’s SUV with Julia Hudson’s son, Julian King, inside. Authorities say he shot the boy nicknamed Juice Box in the head as he lay behind a front seat. His body was found in the abandoned vehicle miles away after a three-day search.

There are no known witnesses to the slayings, and it’s unclear what physical evidence exists, be it fingerprints or DNA. Prosecutors say gunshot residue was found on the steering

Jennifer Hudson seen on the left alongside the estranged husband of her sister William Balfour. (Agencies)

wheel of Balfour’s car. But the defense says it and other evidence is circumstantial.

A gun, which Balfour allegedly stole months before from Hudson’s brother, was recovered in a lot near where the SUV was found and will be presented as the murder weapon.

Establishing motive may pose less of a challenge.

A high-school dropout and one-time Gangster Disciple known by the gang name “Flex,” Balfour allegedly threatened to kill

the Hudson family at least two dozen times, starting earlier in 2008 when he moved out of the house, lead prosecutor James McKay has said.

McKay says that a day before the killings, on Julia Hudson’s birthday, Balfour told her, “If you ever leave me, I’m going to kill you, but I’m going to kill your family first.”

She didn’t take him seriously, McKay said, because Balfour hadn’t acted on the threats before.

Court records indicate the now 34-year-

Doctor: Bee Gee Robin Gibb has colorectal cancer LONDON: Bee Gees star Robin Gibb has advanced colorectal cancer and remains in intensive care after waking from a coma, his doctor said Sunday. The statement confirmed the exact nature of the illness afflicting the artist.

Dr. Andrew Thillainayagam said Gibb had recently caught pneumonia because he was weakened from chemotherapy and two operations.

The 62-year-old singer fell into a coma last week after contracting the pneumonia. Thillainayagam said that three days ago he had warned Gibb’s family that he may not wake up. Instead, Gibb is now fully conscious and able to speak.

Thillainayagam said Gibb is still in intensive care and is “exhausted, extremely weak and malnourished.” He is breathing with the help of an oxygen mask and needs intravenous feeding and antibiotics.

“It is testament to Robin’s extraordinary courage, iron will and deep reserves of physical strength that he has overcome quite incredible odds to get where he is now,” Thillainayagam said in a statement.

He added: “Robin’s wife, Dwina and son, Robin-John, his son Spencer and daughter Melissa have been at his bedside every day, talking to him and

playing his favorite music to him. They have been tireless in their determination never to give up on him.”

Gibb has been ill for several months and he cancelled multiple public appearances last year. He has said on his website last year that he had been seriously ill but did not give more details. He did tell the BBC he had a growth on his colon that was removed. Several media outlets have reported he has cancer.

The Bee Gees - British-born, Australia-raised brothers Robin, Barry and Maurice Gibb - had a string of disco-era hits including “How Deep is Your Love” and “Stayin’ Alive.” -AP

Victoria Beckham turns designer hand to cars BEIJING: British fashion designer Victoria Beckham had her soccer-superstar husband “David in mind” when helping create a new special edition of Range Rover’s off-road vehicle, the “Evoque”.

“I’ve stayed very true to myself. I’ve designed a car that I want to drive, a car that I think David wants to drive,” the former Spice Girl told Reuters in an interview in Beijing, where she was promoting the vehicle, late on Sunday. “I think that though women will drive this car, it has a masculine edge. I think it’s very cool,” she added.

Beckham, who admitted she had never done a project like this before, said she had learned “an enormous amount.”

“And the bottom line is, would I drive this car, like when I’m designing a dress, would I wear this dress? I love what I do.

I consider myself so blessed to do a job that I love and this has been a great experience for me,” said Beckham, wearing a sleeveless striped dress from her own collection.

She said she searched for inspiration in many places. “I did a lot of research and not just with cars, old and new, but boats, planes, movie stars, different locations,” she said.

“It would be hard to pinpoint exactly where the inspiration came from. It’s just what I like, that’s the bottom line. I don’t try to be too technical about it ... It’s what feels real to me.”

The special edition “Evoque” features exclusive, hand-finished matt paint, the first for a Land Rover-type vehicle.

Range Rover Evoque Special Edition Designed with Victoria Beckham Makes Global Debut in Beijing, China. (Agencies)

The vehicle also has rose gold accents on the grille and gloss black forged alloy wheels. Inside, the four-seat coupe includes vintage-inspired leather seats, rose gold-plated accents and features trimmings of black lacquer, textured aluminum and mohair.

In addition, the vehicle has bespoke luxury accessories, such as a four-piece leather luggage set and a hand-sewn leather wallet for the owner’s manual signed by (Victoria) Beckham.

The special edition “Evoque” costs 80,000 pounds ($129,000), twice the cost of a regular model. Only 200 will be

made, the first of which will be rolled out in China as early as October.

Beckham has begun to make a name for herself as a designer, and in 2011 picked up a British Fashion Award.

Still, the singer-turned-designer said she “doesn’t want to run, before she can walk” with her collection. “I mean, each season, I add more retail partners to my list of retailers but because it’s important for me, as a brand, to keep things quite small. I want my customer to feel quite special when she finds one of my dresses or handbags. I don’t want it to get too big too quickly.” -Reuters

old Julia Hudson’s divorce from Balfour was finalized last year.

If convicted of at least two of the murder counts, the 30-year-old Balfour, on parole at the time of the killings after serving nearly seven years for attempted murder and vehicular hijacking, would face a mandatory life sentence.

Jennifer Hudson’s name is among 300 on a list of potential witnesses, though it’s not certain she will testify. The 2004 “American Idol” finalist and 2007 Oscar winner for her role in “Dreamgirls” is expected to attend each day of testimony, which could last up to a month.

Judge Charles Burns has instructed jurors to set aside any sympathy for Hudson and decide a verdict strictly according to testimony.

The panelists include a teacher, a trucker and two people who have had close relatives murdered.

Prosecutors have said Balfour claimed he wasn’t near the Hudson home at the time of the killing, but they are expected to introduce cellphone records that allegedly prove he was in the area when two teenage girls who live nearby heard gunshots.

The witnesses didn’t immediately report the shots to police because the sound of gunfire isn’t uncommon in the impoverished, crime-ridden Englewood neighborhood, according to court filings.

The trial is being held in a nearly centuryold, oak and granite courtroom where several TV legal dramas have been filmed. It’s the same courtroom where R&B singer R. Kelly was acquitted on child pornography charges in 2008. -AP

Boss of UK’s Sky News reprimanded over email hacking

LONDON: The judge presiding over an inquiry into British press standards on Monday rebuked the head of Sky News, the influential news channel of Rupert Murdoch-controlled BSkyB, for breaking the law by hacking into emails to generate a story. Prime Minister David Cameron ordered judge Brian Leveson to examine standards after Murdoch’s now-defunct News of the World tabloid admitted hacking thousands of phones to produce ever-more salacious stories.

BSkyB, the highly profitable satellite broadcaster 39-percent owned by Murdoch, had previously avoided any fall-out from the hacking scandal but its admission this month that it accessed private emails for a story in 2008 on insurance fraud risked dragging the company into the frame.

John Ryley, the head of Sky News, has defended the channel’s actions and said it was acting in the public interest, but Leveson appeared annoyed as Ryley and a barrister in the inquiry discussed whether the action broke the Ofcom broadcasting code.

Ryley had just taken the oath at the high profile media inquiry and had started to explain the 2008 email hacking when Leveson interjected.

“What you were doing wasn’t merely invading somebody’s privacy, it was breaching the criminal law,” Leveson said to Ryley. “It was,” Ryley replied after a pause. “Well where does the Ofcom broadcasting code give any authority to a breach of the criminal law,” Leveson asked. “It doesn’t,” Ryley replied.

Britain’s media regulator Ofcom said earlier on Monday it had launched its own investigation into Sky News over the email hacking admission.

Sky said it passed information onto the police that helped to secure a criminal conviction.

“Ofcom is investigating the fairness and privacy issues raised by Sky News’ statement that it had accessed without prior authorization private email accounts during the course of its news investigations,” an Ofcom spokesman said.

The influential Sky News channel is the only challenger to the state-funded BBC in British 24hour television news, and is often first to break stories. Ryley also apologized for an earlier statement made to the Leveson inquiry asserting that no Sky journalists had intercepted communications, but at the end of the 80 minute hearing was given the chance to state that Sky News was entirely separate from the newspaper division of News Corp.

Financial and media analysts have said that although the timing of the admission was unfortunate for BSkyB, they did not see the issue as causing any long-term damage to the company.

The investigation is now turning its attention to the relationships between Britain’s press and politicians and James Murdoch, who has stepped down as chairman of BSkyB but remains on the board, will appear before the inquiry on Tuesday.

His father Rupert will appear on Wednesday and Thursday. -Reuters

Kazakhstan thanks Borat for tourism boost PARIS: Kazakhstan’s foreign minister on Monday thanked “Borat,” the Sacha Baron Cohen comedy that the Central Asian nation once banned for lampooning its people, for massively boosting its tourism. “With the release of this film, the number of visas issued by Kazakhstan grew tenfold,” local news agencies quoted Foreign Minister Yerzhan Kazykhanov as telling a session of parliament. “I am grateful to ‘Borat’ for helping attract tourists to Kazakhstan,” the foreign minister said.

“Borat: Cultural Learnings of America for Make Benefit Glorious Nation of Kazakhstan” became a hit with critics and viewers alike upon its release in 2006.

But its mocking depiction of Kazakh rural life and the main character’s difficult adaptation to the

United States created outrage in the former Soviet republic, which had no independent history prior to 1991.

The film’s distribution was banned in the nation of 16 million and the authorities even blocked local access to Baron Cohen’s website.

Officials have previously bristled at public mentions of the film and Kazakhstan last month lodged a formal complaint with the Olympic Committee of Asia after a spoof Kazakh anthem from “Borat” was played at a sports event in Kuwait.

But Kazykhanov said he approached the film “philosophically,” noting that all Kazakh embassies abroad were under “strict instructions” to provide the state anthem and other insignia to local officials to avoid any confusion. -AFP

FILE - Borat Sagdiyev, played by actor Saha Baron Cohen, attends a signing in Los Angeles for a Borat book. (AFP)

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ALWATAN DAILY

AROUND TOWN / TIME OUT

TUESDAY, APRIL 24, 2012

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

Feature o f

graffiti

the day

moderately confused

Abdulmohsen Abdulaziz Al Babtain Co. holds the Annual Dunlop Dealer Meeting

KUWAIT: Abdulmohsen Abdulaziz Al Babtain Co. felicitated their valued Dunlop Dealers at the “Annual Dunlop Dealers Meeting” during a glittering event held in The Kuwait Regency Hotel. This one-of-its-kind event was a huge success, and was marked with the participation of over 100 companies from all around Kuwait.

Mr. Ahmad Shihadeh, Operations Manager, Gulf Express Co. launched the event by welcoming the valued guests, and stated that the company truly value sits long and strategic alliance with all its Dunlop Dealers. He further emphasized on the added values that Al Babtain Co. is offering to its valued customers and concluded by wishing them continuous success and prosperity.

On his part, Mr. Ghazi Saleh Al Babtain, Group Business Development Manager extended a warm welcome to the guests and briefed them about various rewards bestowed upon Al Babtain Group in the year 2012 by their suppliers, viz. Dunlop Tyres, Nissan Cars, Total Lubricants, among others. Mr. Al Babtain stated that Dunlop has been rated as the No. 1 Seller in Kuwait during the past years and assured that it will continue holding the same position for many years to come.

Furthermore, General Manager - Sales, Dunlop, Mr. Takashi Hara expressed his gratitude to all the Dealers for contributing towards Dunlop being the No. 1 tyre brand in Kuwait. He emphasized on the long and successful relationship built between Dunlop and Al Babtain Co. He further assured all guests of the excellent and unmatched quality Dunlop offers to its patrons. He also mentioned that Dunlop has continuously innovated and improved every aspect of the tyre manufacturing industry and has always provided its

Month a t

customers with the best products and services available on the market.

Moreover, Mr. Jithin Jayachandran, Asst. Manager Technical services stated that “Dunlop enjoys the lowest warranty rate as their quality is one of the best. He also assured all the Heads of the Companies that he is willing to give individual company training to enhance the technical know-how of their technicians.” At the end, he asserted that Dunlop enjoys the best-in-class technology all around the globe.

After Al Babtain Co. has taken the honor to felicitate the valued dealers, Mr. Ghazi Saleh Al Babtain concluded the event, by awarding Al Babtain customers with a token of appreciation for their outstanding contribution, and thanked them for choosing Dunlop Tyres, which are today considered as the world’s foremost brand of high-performance tyres.

At the end, all participants at this event took part in a draw, and many of them won a number of valuable prizes. The meeting was later followed by a Gala dinner during which all customers shared their stories and experiences.

Sudoku

Intermediate

Advanced

Elementary

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

a glance combing an interesting pastime. There are more than 500 varieties of mollusc shells alone. For more information, call 25335260/70.

Presentation on iconic rugs April 24/ 6 p.m. / Sadu House: The KTAA under the auspices of Al Sadu House cordially invites you to the presentation: ‘The Turkmen Yurt and Its Furnishings’ by James Bishop. Inhabiting the steppes of Central Asia, the diminishing nomadic people of Turkmenistan weave some of the most iconic rugs. The weavings of each tribe are distinctive with characteristic octagons or guls. This evening you will learn about some of the major tribes, the primary design features of their various guls, their bags (chuvals, torbas, jollars, etc.), tent bands, animal trappings, and chirpies.

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

Hala Ramadan Expo II April 22 - 25/ 10 a.m. - 10 p.m./360 Mall: Hala Ramadan Expo II 2012 is held at the Mall 360’s Exhibition Hall under the patronage of Shaikha Feryal Duaij AlSalman AlSabah. The exhibition will be going on for 4 days from Sunday, April 22 until 25. This Expo aimed to encourage participants in promoting their creativity and sharpening their skills. For more details contact info@ halaexpo.com or follow on http://twitter.com/HalaExpo.

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

NSPC Charity Exhibition

Gulf Jazz Festival Kuwait April 25 - 26/8 p.m./Al Hashemi II Grand Ballroom at Radisson Blu Hotel: Sponsored by Cadillac the Gulf Jazz festival will begin on April 25 with an opening concert and dinner performed by: Full Drive Quartet (Poland) and Vivian Buczek (Sweden). Following night will feature a special concert performed by Michaella Rabitsch and Robert Pawlik Quartet (Austria). Tickets are available at Radisson Blu Hotel in Al Bida’a to contact event holders visit http://www.gulfjazzfest.com/ or call +965 2567 3000.

Diwaniya presentation April 24/ 7 p.m. / The AWARE Center: The AWARE Center cordially invites you to its diwaniya presentation entitled, “Beachcombing in Kuwait,” by Claudia Farkas Al-Rashoud. Virtually everyone who walks along a beach starts to collect odd bits and pieces that have been washed up and deposited along the strandline. On Kuwait’s beaches you can find many things that make beach-

April 25 - 27/ 10 a.m. - 10 p.m./Alraya Center: The National Society for Protection of Children would like to invite you to its annual charity exhibition on April 25, 26 and 27, from 10:00 a.m. till 10:00 p.m. at Al Raya Centre, ground floor in Sharq. The exhibition will include many participants offering kaftans, bags, accessories, fine jewelry, food, sweets, books and paintings from Kuwait and the GCC. The event is available for the public and is free of charge.

Holiday Notice The Embassy of India will remain closed on Sunday, May 6, 2012 on account of “Buddha Purnima”.

Golden era club April 27/ 5 p.m. - 7 p.m./ Rumaithiya: Join the Golden Era (an exclusive seniors club) for a 3500 km, zero carbon footprint, journey to a beautiful European country credited with amazing achievements. Dr. Leos Tovarek’s dynamic presentation will give a unique insight into the Czech Republic; its history, culture, strengths, potential and future. Home sick Czech nationals are particularly invited to share their culture. Venue- House #34, next to AbuTammam Intermediate School for Boys, Sate Alhusari St., Block 2, Rumaithiya. For details call 97172788/ 66208183.

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.

Nancy

Horoscopes Aries: March 21 - April 19

Have you been harboring a secret desire for someone you believe thinks of you only as a friend, Aries? Don’t be surprised if you learn differently today. This is a day when hidden passions may suddenly be revealed - and your friend could unexpectedly divulge a covert attraction to you! The only downside is that sometimes it can be a letdown when fantasies become reality.

Taurus: April 20 - May 20

Today you could encounter a work colleague and suddenly feel an unexpected romantic attraction, Taurus. This could catch you off guard because you never before thought about this person in that way.

Before jumping in with both feet, give yourself some time to come down. You’re feeling especially sensual today, so this might well pass by tomorrow. Stay grounded for now.

Gemini: May 21- June 21

A sum of money that you might have been expecting from far away may be delayed, Gemini. This could be frustrating for you, but don’t panic. The money is indeed coming. So unless your situation is urgent, just sit back and wait. If you want to check with those who are sending it, by all means do so.

Cancer: June 22 - July 22

Sex and romance are top priority for you today, Cancer. You’re looking especially beautiful, you’re feeling especially sensual, and you could well attract admiring looks from strangers. You might want to indulge in some new clothes or perhaps new cologne.

This is definitely the perfect day to schedule an intimate evening with a love partner. If you can, go for it.

Leo: July 23 - August 22

If you’re single, Leo, tonight you could find yourself longing for a lover from the past and wondering what’s happening with this person right now. If you’re currently involved, you might be experiencing a temporary separation from your beloved, and could feel inclined to spend the evening at home. If you choose to do this, entertain yourself with a favorite book or movie.

Virgo: August 23 - September 22

Are you waiting for a love partner to phone you at work, Virgo? As much as you want to hear from your friend, you could well get so caught up in your work that you wouldn’t hear a marching band go by. As you work, be sure to keep one ear tuned to the real world by looking up or getting up and walking around occasionally.

Libra: September 23 - October 22

Your sensuality is tempered today with a touch of the mystical sort of romantic feeling found in fairy tales, Libra.This might be unusual for you, but your current partner is going to love it! If you’re single, you’re likely to attract a lot of attention and possibly meet someone new and exciting. Take care that you make the effort to see the real person and not just a romantic image. Good luck!

Scorpio: October 23 - November 21

A desire to spruce up your home might start with a thorough cleaning from attic to basement, Scorpio.

You could go through that chore like gangbusters and then do some repairs or go for the fun stuff, such as redecorating with plants or even some new furniture.

You can have a lot of fun with this, especially if your partner or friends help out. Work hard and enjoy your day!

Sagittarius: November 22 - December 21

A love partner could contact you out of the blue, Sagittarius, perhaps proposing that the two of you get together tonight - alone. You’re in just the mood for this, since you’re feeling especially sexy and not particularly afraid to show it. An evening at home or in a dark corner of your favorite restaurant might be just the ticket.

Capricorn: December 22 - January 19

Have you been waiting to hear about some funds, Capricorn, perhaps to create a piece of art, write a book, or make a documentary film? If so, you could have a lot to celebrate today when you receive news that the money is forthcoming! Don’t be surprised if there’s a delay, however. The project is still going to happen, but just a little later than you’d hoped. All you can do now is be patient.

Aquarius: January 20 - February 18

Someone at your workplace could suddenly find you very attractive and make no secret of it today, Aquarius. How you respond, of course, is up to you, but if you don’t reciprocate this person’s feelings, don’t respond positively simply because you’re flattered. This could cause trouble for you down the line, particularly if this person is in a position of authority. Hold out for the right person!

Pisces: February 19 - March 20

Your desire to respect and honor the special someone in your life clashes today with an equally strong desire to become a passionate persuader, Pisces. The secret to resolving this conflict lies in knowing that the two aren’t mutually exclusive. Also, if you’re going to make the most of both drives, you need to tune in.

ALWATAN DAILY

SPORTS

tuesDAY, april 24, 2012

19

Formula one

Formula One in the Middle East to stay MANAMA: Formula One teams, once they have recovered from a Bahrain Grand Prix run against a backdrop of nightly clashes between police and protesters, have many questions to address in the weeks ahead.

The whole world has seen television images of demonstrators hurling petrol bombs, while riot police responded with tear gas, rubber bullets and birdshot in protests in and around Bahrain’s capital Manama.

Last year’s race had to be cancelled as the result of a bloody crackdown on an anti-government uprising and Sunday’s faced down many calls for it to face the same fate.

“We were committed to this race and after the race we will make a proper judgment of what happened and come to a conclusion,” said Mercedes team boss Ross Brawn.

There may be an inquest of sorts but even if teams were reluctant to come to Bahrain before Sunday’s race, there is most unlikely to be any weakening of the glamour sport’s ties with the region’s rulers.

The race contributes some $40 million US dollars a year to Formula One’s coffers.

If anything, the ties will only bind tighter with Formula One supremo Ber-

nie Ecclestone saying he was committed to Bahrain “for as long as they want us” and asserting that all publicity was good publicity. The cash-guzzling sport has always followed the money and it has found investors and partners in oil and gas-rich countries eager to diversify into tourism and technology as well as indulge a passion for fast cars. In terms of cash flow, it’s by far the biggest concentrating spot in the world. If you were to map it out that way, you wouldn’t have enough races here,” said Lotus team owner Gerard Lopez.

Lopez’s Genii Business Exchange has enlisted retired triple champion Jackie Stewart, who has excellent contacts with the Bahrain royal family, as a partner to build new links with automotive companies and manufacturers. Bahrain was the first country in the Middle East to host a grand prix, back in 2004, and owns 50 percent of the McLaren Group whose team are leading the Formula One championship after four rounds.

Abu Dhabi joined the calendar in 2009 at a Yas Marina circuit that is lavish even by Formula One standards.

That round has become, like Monaco and Singapore, a key fixture for businessto-business deals and one that corporate chiefs and sponsors will always have

space for in their executive diaries.

Abu Dhabi is also the largest investor in Mercedes’ parent Daimler AG through the emirate’s sovereign wealth fund Aabar Investments, and the region is a significant market for the German carmaker.

It was Aabar that in 2009 bought the then-world champions Brawn GP with Daimler, turning it into the official works Mercedes team with the Abu Dhabi fund holding 40 percent.

Abu Dhabi accounts for more than half of the United Arab Emirates’ economy and is also home to Ferrari World, next to the impressive Yas Marina circuit, which is the world’s largest indoor theme park.

The Bahrain circuit also has a stateof-the-art outdoor kart track designed to be able to host world championships and develop home-grown talent.

“We see more interest in Middle Eastern countries to host big sporting events, we have Abu Dhabi and Bahrain on the calendar and I’m sure in the future there will probably be more,” said Williams’ Brazilian driver Bruno Senna.

“This is exciting because it creates the motor racing culture, these changes take a while and I think we are just getting a bigger fan base in the Middle East which is good for motor racing generally,” he told Reuters. -Reuters

Red Bull driver Sebastian Vettel, leads the field after the start during the Bahrain Formula One Grand Prix at the Formula One Bahrain International Circuit in Sakhir, Bahrain, April 22, 2012. (AP)

Basketball

James, Heat win home finale over Houston, 97-88 MIAMI: LeBron James had 32 points and eight rebounds, Norris Cole added 16 points and the Miami Heat pulled away in the final minutes to beat Houston 97-88 on Sunday night and eliminate the Rockets from postseason contention.

Mike Miller scored 11 for injury-depleted Miami, which still has a mathematical chance of catching Chicago for the No. 1 seed in the Eastern Conference playoffs. Joel Anthony added 11 for the Heat on 5-for-5 shooting.

Chandler Parsons scored a career-high 23 for Houston, which led by as many as 13 in the first half. Parsons tied the game at 83 with a layup late in the fourth, before James’ 3-pointer sparked an 8-0 run that put Miami in control.

Goran Dragic scored 16, while Courtney Lee and Patrick Patterson had 14 apiece for the Rockets. Luis Scola scored 12.

The Heat played without starters Dwyane Wade (dislocated left index finger), Chris Bosh (leg muscle fatigue) and Mario Chalmers (flulike symptoms). Backup center Ronny Turiaf missed his seventh straight game while recovering from a hamstring problem.

So it was yet another pieced-together starting lineup that Miami sent to open the game, the 16th different one for the Heat this season - and their seventh in their last seven games. And things didn’t start well.

The Heat missed their first six shots and trailed 23-10 after Scola made a hook shot with 3:54 left in the opening quarter.

Houston’s lead was still double digits at 38-28 with 6:59 remaining until halftime, before Miami used a 17-6 run to take a onepoint lead at intermission. Miller’s 3-pointer with 25 seconds left gave the Heat their first - and only - lead of the half, 45-44.

Parsons had his second-best scoring quarter of the season in the third, finishing with 12 of Houston’s 25 as the Rockets took a 69-66 lead into the fourth. Back and forth it went, the game being tied on four separate occasions in the final quarter, the last of those coming when Parsons drove on James for a layup and his 23rd point, setting the season best for the rookie.

On the next possession, James took aim from the left wing and hit a 3-pointer over Parsons to put Miami up for good. And after a steal by Shane Battier, Miller added another 3 from the right corner 24 seconds later to give the Heat what was then their biggest lead at 89-83.

Playing back in his home state for the first time as a pro, Parsons finished 10 for 13 from the floor. He spent four seasons at Florida, appearing in 142 games and averaging 10.2 points before the Rockets grabbed him in the second round of last year’s draft. -AP

Miami Heat’s LeBron James (center) defends against a shot

by Houston Rockets’ Chandler Parsons during the fourth quarter of their NBA basketball game, April 22, 2012. (AP)

McLaren perturbed by pit-stop problems LONDON: McLaren team chief Martin Whitmarsh said on Monday that his team will be launching a full internal investigation into the pit-stop problems that threaten to derail the team’s Formula One title challenge. In the aftermath of defending double world champion German Sebastian Vettel’s first win of the season for Red Bull in Sunday’s Bahrain Grand Prix, Whitmarsh confirmed he had changed the left-rear wheelgun operator.

He also conceded that the escalating pitstop problems could undermine McLaren’s bid for the championship, as Briton Lewis Hamilton warned after he suffered two slow problematic stops during Sunday’s race.

The two bungled wheel-changes cost him about 18 seconds in the race and wrecked his hopes of retaining the leadership of the drivers’ championship as Vettel

stormed to victory and swept back on top of the title race.

Hamilton said: “There should be an inquest because we gave away a lot of points which championships are lost through. So we have to try and make sure we pick up on them for the next race because we can’t afford to lose points like we did.”

Whitmarsh reacted to the sense of crisis Hamilton’s team-mate and fellow-Briton Jenson Button had suffered from a bungled pit-stop in the previous weekend’s Chinese Grand Prix, costing him a chance of victory - by confirming the team would treat the whole issue seriously and urgently.

As Red Bull celebrated and led the rush to the airport to leave Bahrain after a weekend overshadowed by civil unrest and outbursts of violence, Whitmarsh promised swift action. -AFP

tennis

Madrid clay color change leaves players blue

Cricket

Whatmore says no security fears in Pakistan LAHORE: Pakistan’s Australian cricket coach Dav Whatmore Monday voiced disappointment at Bangladesh postponing their tour, saying he had felt no security concerns during his two months in the country.

Last week Bangladesh agreed to visit Pakistan for a one-day match and a Twenty20 international but the tour was delayed on Thursday by a Dhaka high court ruling over security fears.

FILE Pakistan’s captain Misbah-ul-Haq (right) and team coach Dav Whatmore inspect the pitch during a training session in Dhaka, Bangladesh, March 14, 2012. (AP)

Pakistan had hoped the short tour would help revive international cricket in the country, suspended in the wake of deadly terror attacks on the Sri Lankan team bus in Lahore in March 2009.

“Like everyone else in Pakistan, I am disappointed with the postponement of the series,” Whatmore said.

“We were close to choosing the team but now Bangladesh not coming everything is fin-

ished which is a bit disappointing.”

Whatmore, 57, played seven Tests for Australia and as coach guided Sri Lanka to their famous victory in the 1996 World Cup. “From my personal view, having been born in Sri Lanka and lived through the civil war there, and now staying in Lahore I have faced no security problems,” he said.

He also coached Bangladesh to the Super Six Stages of the 2007 World Cup in the West Indies.

“I have not seen very many areas in Lahore and if I know some other areas I would like to go there, but I have faced no problems here,” he said.

Under Whatmore, Pakistan last month won the Asia Cup, also involving world champions India.

“It is very difficult for a nation so rich of cricket history to keep the game going without being able to host international teams,” said Whatmore of Pakistan, who have been forced to play their “home” series on neutral venues, mostly in United Arab Emirates, since the Lahore attack.

Whatmore said he hoped the best players come when the Pakistan Premier League (PPL) Twenty20 competition is staged in the country.

PCB said it was working on the idea of hosting its own league on the pattern of ongoing Indian Premier League and the recently held inaugural league in Bangladesh. -AFP

Novak Djokovic of Serbia returns the ball to Rafael Nadal of Spain during the final of the Monte Carlo Tennis Masters in Monaco April 22, 2012. (Reuters)

MONTE CARLO: After the Monte Carlo Masters ended with the predictable Rafa Nadal triumph, the world’s top tennis players are set to face something entirely different when they head to Madrid to play on blue clay for the first time.

Nadal, who ended a seven-match losing streak to Novak Djokovic to clinch a record eighth consecutive Monte Carlo crown on Sunday, was concerned about the change of surface color midway through the six-week European clay-court season.

The May 6-13 Madrid Masters is followed by the Rome Masters the following week before the French Open starts on May 27.

“You have back-to-back Madrid and Rome,” said Nadal, who lost both finals to Djokovic last year. “Madrid is the only tournament you are playing with high altitude, and then now you are putting a different color of clay. There can’t be too much difference between Madrid and Rome.” While the change to blue could make sense from a marketing perspective (blue is the color of the Madrid event’s main sponsor, Mutua) and organizers say it also makes the ball easier to see for spectators, Nadal said the tournament’s history was what make it stand out.

“This tournament is big because the history is there,” said the Spaniard. “Best players in history played in this court.”

World number four Andy Murray, who won the Madrid tournament in 2008, was unsure how the clay color change would pan out.

“The timing of it is what makes it difficult for the players,” he added. “I’ve never played on a blue claycourt before. I have no idea how the surface will play. So that will be a new experience.” The Scot also said that the blue clay “makes the tournament unique and a bit different (which) is good for the tour”.

Djokovic, who is aiming for a fourth consecutive grand slam victory at Roland-Garros, said changes were needed to improve the tour and to have more attractive venues but thought the players were not listened to when it came to major makeovers.

“As far as I know, most of the top players I talked to, nobody agreed. I never played on blue clay. Rafa didn’t. Federer didn’t. If you don’t have the top players agreeing on that, it doesn’t make sense for me really,” Djokovic said.

“It’s going to be interesting to step on the blue clay obviously. I’m not blaming them ...

But definitely there is a certain rule within the ATP that the president is able to make decisions by himself without having players agree to that.

That rule has to be changed because it’s not fair,” said the Serb, adding that he had heard mixed reports about the bounce on the clay from players who had tested it. -Reuters

Sports Editors Highlight

SPORTS

tuesday, april 24, 2012

LONDON: Arsenal striker Robin van Persie was named the English Professional Footballers’ Association (PFA) player of the year on Sunday after scoring 27 league goals to revive his club’s season. The Dutch international, 28, tops the Premier League scoring charts and Arsenal’s third spot with three matches to go after a poor start to the campaign is in large part down to his stunning contribution. Without their captain, Arsenal could be languishing in mid-table and fans will shudder at the thought of who would score their goals if injury struck or he was tempted away in the search of trophies. The London side have won just the 2005 FA Cup since he joined from Feyenoord in 2004. Van Persie is the third Dutchman to win the award after Dennis Bergkamp (1997-98) and Ruud van Nistelrooy (2001-02). -Reuters

Football

Chelsea threaten Guardiola’s Midas touch MILAN: Barcelona coach Pep Guardiola is in danger of tarnishing his reputation as the man with the Midas touch when the holders seek to overturn a 1-0 deficit against Chelsea in Tuesday’s Champions League semi-final second leg at the Nou Camp.

The 41-year-old former Barca and Spain midfielder has inspired the Catalan club to an impressive 13 trophies since he took charge in 2008, including three straight Spanish league titles and Champions League triumphs in 2009 and 2011.

However, elimination from Europe’s elite club competition would be a fresh blow following Saturday’s 2-1 La Liga reverse at home to Real Madrid which put their bitter Spanish rivals seven points clear at the top with four games left.

Real could get another crack at Barca in next month’s Champions League final if they manage to get past Bayern Munich, who are seeking to protect a 2-1 lead from last week’s first leg when they play at the Bernabeu on Wednesday.

Guardiola suffered the rare embarrassment of having to explain why his tactics failed against Real after he left Cesc Fabregas, Alexis Sanchez and Pedro out of his starting lineup and gambled on 20-year-old B-team winger Cristian Tello.

The pacy Tello showed flashes of promise but wasted one of Barca’s best chances with a wild effort, while Sanchez scored immediately after coming off the bench.

Real coach Jose Mourinho, by contrast, executed a successful game plan that appeared to be modeled on the one his former club Chelsea used in last week’s first leg at Stamford Bridge.

Allowing Barca to dominate possession, defending resolutely and looking to unleash swift counter attacks worked

for both sides, but they also needed a slice or two of luck to thwart World Player of Year and Champions League top scorer Lionel Messi and his team mates.

Didier Drogba, the scourge of Barca last week, is Chelsea’s main injury doubt having missed Saturday’s 0-0 draw at Arsenal with a knee injury.

Not only did the Ivorian striker score the only goal, he continually disrupted the flow of the game by falling to the floor, prompting ridicule and criticism of his antics on Twitter and other social media.

If Drogba is missing, Fernando Torres will almost certainly lead the attack against a club he tormented during his stint at Atletico Madrid. The misfiring striker netted seven goals in 10 La Liga matches against Barca and twice scored doubles at the Nou Camp but has suffered a spectacular loss of form since moving to London from Liverpool midway through the 2010-11 season.

Chelsea will definitely be without injured Brazilian centre-back David Luiz, but in his absence Gary Cahill and captain John Terry look to be forging a solid partnership.

Interim coach Roberto Di Matteo, who played against Guardiola in a Champions League quarter-final in the 19992000 campaign, seemed to be using Saturday’s match against Arsenal as something of a dress rehearsal for Tuesday’s game.

To use Mourinho’s phrase, the Italian “parked the bus” in front of goal at the Emirates as they got the result that, if repeated on Tuesday, would see them through to the final.

“Chelsea played with three defensive midfielders in the middle so it was difficult to play through there,” Arsenal manager Arsene Wenger said. “They wanted to practice the system they will use on Tuesday night.” -AFP

Bayern’s Rummenigge expects hell in Madrid

The shot from Lionel Messi of Barcelona is blocked by John Terry of Chelsea during the UEFA Champions League Semi Final first leg match between Chelsea and Barcelona, April 18, 2012. (AFP)

United’s defensive frailty opens door for City LONDON: Manchester United’s miserly defending at Old Trafford has underpinned many of their title-winning campaigns under Alex Ferguson but this season’s home lapses could cost them dearly.

The 4-4 draw at home to Everton on Sunday, despite leading 3-1 and 4-2, threw the door wide open for rivals Manchester City to deny United a 20th league title but it was the not the first time this season Ferguson’s defence had gone AWOL at home. They were smashed 6-1 by City in October, then lost 3-2 at home to Blackburn Rovers on New Year’s Eve. With one more home match to go they have already conceded 19 league goals at Old Trafford this season, their worst record since the start of the Premier League.

An inability to keep the ball out of their net at home also sabotaged their European campaign with Basle drawing 3-3 and Benfica 2-2 as United bowed out of the Champions League at

the group stage.

Even in the Europa League Ajax Amsterdam won 2-1 in Manchester before Atheltic Bilbao returned with a 3-2 victory. Ferguson praised his side’s attacking play against Everton but did not hold back on his defenders. The absence of Nemanja Vidic since December has not helped United’s cause with Rio Ferdinand badly missing his central defensive partner at times.

Yet despite United’s regular home blips, they will still head to the Etihad Stadium on Monday for a title showdown with a three-point lead over City and their destiny very much in their own hands.

United usually respond well to setbacks and they can approach the match with more options than a City side who know they must collect three points.

Even a draw for United would mean they should be able to wrap up the title with games against Swansea City and Sunderland to come

whereas City must travel to Champions League chasing Newcastle United for their penultimate game.

However, City will be buoyed by a home record that is the envy of their close neighbors with 16 wins and one draw and only 10 goals conceded.

“I still think United have a bigger chance than us at the moment, even if we get three points in the derby we have Newcastle and QPR, which will be difficult games,” City manager Roberto Mancini said after their 2-0 victory at Wolverhampton Wanderers on Sunday.

“United after us have two games that will not be easy, but not difficult like it will be for us.

But we have still have a chance.”

United may still hold pole position with three games left but in this most unpredictable of Premier League seasons their could still be some unexpected twists -- whatever the outcome of Monday’s derby. -Reuters

PSG run riot as Lyon keep top-three dream alive Bayern’s Mario Gomez scores his side’s 2nd goal past Madrid goalkeeper Iker Casillas (right) during the Champions League first leg semifinal soccer match between Bayern Munich and Real Madrid, April 17, 2012. (AP)

BAYERN: Bayern Munich chairman Karl-Heinz Rummenigge has said he expects Wednesday’s Champions League semifinal return leg at Real Madrid to be like a trip to ‘hell’. Bayern hold a slender 2-1 lead from Tuesday’s first-leg in Munich after Germany striker Mario Gomez scored the winner in the 90th minute after Real midfielder Mesut Ozil had earlier scored what could prove to be a crucial away goal.

“We have great respect for Real, but no fear, even if we are expecting hell in the Bernabeu stadium,” Rummenigge told SID, an AFP subsidiary. “The last-minute goal has given us a small chance, but it will be incredibly difficult.We have to concentrate fully and put a tight performance in defense.”

Rummenigge says Bayern must not try just to defend against Real and must do all they can to score an early goal.

“We have to try and put pinpricks in their defense to get a goal,” he said. “Sitting back and defending won’t achieve anything against such a strong attacking side.”

Bayern fans are dreaming of contesting the Champions League final at their own Allianz Arena in Munich on May 19 against ei-

ther Chelsea or Barcelona and the trophy has already arrived in the Bavarian city.

“Of course it is our big dream to reach the home final,” said Rummenigge. “We’ll do everything we can to make the dream come true. It would be fantastic, historically no team has reached the final in their own stadium.”

No team has won the Champions League title in their own stadium, but Inter Milan were the last team to lift the European Cup at their stadium when they beat Benfica 1-0 at their own San Siro stadium 1965.

Striker Mario Gomez says Bayern Munich will play to win at Real Madrid despite seven players being under threat of suspension for the final should Bayern advance. Gomez says his teammates will not hold back although some of them may miss the final in their own stadium if they pick up another booking. Bayern holds a 2-1 advantage ahead of Wednesday’s return leg in Madrid. The Germany striker says “yellow cards should not play a role, everyone will give his best.”

Seven Bayern players have yellow cards and another booking would rule them out of the final. -AFP

PARIS: Paris Saint-Germain closed to within two points of Ligue 1 leaders Montpellier by overwhelming second-bottom Sochaux 6-1 at a sun-splashed Parc des Princes on Sunday.

Goals from Thiago Motta and Jeremy Menez put PSG 3-1 up at half-time, after Modibo Maiga had cancelled out Javier Pastore’s opener for the hosts.

Nene claimed a second-half brace before substitute Sylvain Armand got on the scoresheet in injury time as Paris recorded their most emphatic win of the season.

Ancelotti elected to deploy a fluid 4-3-3 formation with Nene, Menez and Pastore occupying the three attacking berths and it was Pastore who broke the deadlock in the sixth minute,

slamming home with his left foot after a onetwo with Nene.

Sochaux responded six minutes later, Maiga beating PSG goalkeeper Salvatore Sirigu to Marvin Martin’s lofted pass to head home and score for the fifth league game in succession.

Maiga hit the post from Ryad Boudebouz’s knockdown at the end of a sweeping Sochaux move in the 21st minute, before Motta converted Nene’s left-wing free-kick to restore the hosts’ lead and claim his first goal for the club.

Menez made it 3-1 shortly before half-time, glancing home at the near post after Pastore freed Siaka Tiene on the PSG left. Sochaux’s hopes of a comeback were erased by a quickfire Nene brace just before the hour. Defeat left

AC Milan draw hands Juventus chance to widen lead ROME: Ten-man AC Milan needed a 90thminute equalizer from Zlatan Ibrahimovic to salvage a 1-1 draw at home with Bologna on Sunday, handing Juventus a chance to extend its lead atop Serie A. Uruguayan forward Gaston Ramirez gave Bologna the lead in the 26th minute at the San

Siro, finishing off a swift counterattack after Milan midfielder Mark van Bommel lost possession.

Milan defender Daniele Bonera picked up his second yellow card in the 82nd and it looked like the Rossoneri were about to slip to their second loss in three matches until Ibrahimovic

Del Bosque urges Spain to forget W.Cup, Euro wins SPAIN: Spain coach Vicente Del Bosque says that former glories will count for little when they go to the European Championships in Poland and Ukraine in June.

Spain won the World Cup in South Africa in 2010 and the last European competition in Austria and Switzerland in 2008, casting aside the country’s reputation as under-achievers on the international stage.

“I think we have to be like normal people,” Del Bosque said in an interview on uefa.com about his side’s preparations for the tournament.

We can be proud of what we’ve achieved, but at

the same time it belongs to the past, and we have to face the future. And if we want to keep our feet on the ground there is no other possibility than to forget that we won it, and prepare for the future.”

Former Real Madrid coach Del Bosque said an essential part of the country’s recent success was consistency of play across all national teams, which gave him a range of options at his disposal.

“We can put in any player we want and he will adapt immediately,” he added. Spain take on 2006 World Cup winners Italy in their first Group C match in Gdansk, Poland, on June 10. -AFP

Sochaux 19th but they are only a point from safety with five games of the season remaining.

Lyon sustained their faint hopes of playing in next season’s Champions League by fighting back from two goals down to beat Lorient 3-2 at Stade Gerland, allowing them to return to within six points of third-placed Lille.

After Kevin Monnet-Paquet and Mathias Autret had each exploited holes in Lyon’s offside trap to put Lorient 2-0 up, Lyon skipper Cris pulled a goal back with an adroit volley in the 38th minute. Lisandro Lopez drilled home a low shot to make it 2-2 in the 77th minute and then substitute Bafetimbi Gomis pounced at a corner to complete the comeback and lift Lyon above Rennes into fourth. -AFP

AC Milan’s Zlatan Ibrahimovic (left) fights for the ball with FC Bologna’s Urugayan midfielder Diego Perez during the seria A match AC Milan against Bologna, April 22, 2012. (AFP)

scored with a close-range volley.

The draw put Milan level in the table with Juventus, which was hosting Roma later. Elsewhere, third-place Lazio allowed a late equalizer in a 1-1 draw with Lecce. After both sides had hit the crossbar, Brazilian midfielder Francelino Matuzalem scored with a header for Lazio in the 82nd, but Valeri Bojinov drew Lecce level in added time from the center of the area for his first goal since rejoining the southern club on loan from Sporting Lisbon in January. Lazio held on to the final Champions League spot, but is only three points ahead of Udinese, with Napoli four points back.

Elsewhere, Siena beat Genoa 4-1 in a match that was suspended for about 45 minutes early in the second half due to protests. With their side trailing 4-0, Genoa fans threw flares onto the pitch and climbed atop barriers as they were faced by stewards in riot gear.

After the fans calmed down, the match resumed and Cristiano Del Grosso scored an own goal for Genoa in the 79th. Earlier, Julio Cesar saved a penalty but Inter Milan came away with only a 0-0 draw at struggling Fiorentina, damaging its dwindling chances of qualifying for the Champions League. In the 69th minute, Julio Cesar dove to his right to push away a low spot kick from Adem Ljajic after the goalkeeper had tripped Andrea Lazzari.

Also, Palermo drew 2-2 at Cesena. A minute of silence was held before each match a week after Piermario Morosini’s death in a Serie B game. -AFP