April 30, 2012

MONDAY, APRIL 30, 2012

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Issue No. 1420

20 PAGES

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Lawmakers press for constitutional amendments

Development Bloc, MP Al-Yahya suggests parliament seats increase to 75 Mohammed Al-Salman & Mohammed Al-Khaldi Staff Writers & Agencies

KUWAIT: Lawmakers have been recently pressing for constitutional amendments in order to ‘change’ the performance of the executive and legislative authorities over the coming period.

MP Faisal Al-Yahya revealed that a range of constitutional amendments will be proposed to the lawmakers over the coming

period in order to build a consensus so that the amendment is officially tabled before the National Assembly. The MP was quick to affirm commitment to the Constitution, citing Article 4 which stipulates the role of the ruling family and its jurisdictions.

Al-Yahya suggested a set of draft amendments which include, scrapping the parliamentary membership of unelected ministers and to increase Parliament seats to 75 members.

Similarly, MP Jamaan Al-Harbash of the Reform and Development Bloc disclosed that the bloc has adopted a number of changes to the Constitution which will be included in the Majority Bloc’s agenda for its upcoming meeting.

In the same vein, MP Dr. Faisal Al-Mislem revealed that the Development and Reform Bloc will announce the amendments, which include a parliamentary vote on the appointment of a prime minister and the condition that they gain the confidence

Egypt government ‘reshuffle planned’ ahead of poll

of Parliament. Meanwhile, Finance Minister Mustafa Al-Shamali testified before a parliamentary committee probing corruption allegations against the former prime minister, the head of the panel said Sunday.

“The committee has informed Shamali it was not satisfied with the replies it has received (from the government) so far and demanded complete answers,” Faisal Al-Muslim said after the meeting that took place late on Saturday. The panel, formed by parliament last month, is investigating allegations that former prime minister Sheikh Nasser Mohammad Al-Ahmad Al-Sabah transferred public funds into his private accounts overseas.

Informed sources have revealed that a parliamentary delegation representing the Parliamentary Majority Bloc will convey a message to His Highness the Prime Minister Sheikh Jaber AlMubarak Al-Sabah that maintaining the Finance Minister Mus-

Iraq affirms desire to tackle hanging issues with Kuwait

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Libya’s ruling council keeping Cabinet in place

Egyptian men hold knives during clashes between protesters and resident of the Abbassiya neighborhood in Cairo on April 29, 2012. More than 90 people were wounded in overnight clashes between Salafist protesters and residents of a Cairo neighborhood, the Egyptian health ministry said. (AFP)

CAIRO: The head of Egypt’s ruling military has told parliament speaker Saad Al-Katatni he will reshuffle the government on Sunday ahead of next month’s presidential election, the Muslim Brotherhood website said.

“Field Marshal Hussein Tantawi tells Katatni he will reshuffle the government in the coming hours,” the site said.

The move came after the Islamist-dominated parliament decided to suspend sessions for a week in protest at the military refusing to sack the government and name the Brotherhood’s Freedom and Justice Party (FJP) to head a new one.

A marathon parliamentary election which ended in January saw Egypt’s two main Islamist parties catapulted to the center stage of politics, clinching nearly three-quarters of the 498 seats in the legislature.

The FJP, political arm of the powerful Muslim Brotherhood, has been pressuring the Supreme Council of the

Armed Forces ever since to sack the government and name it to lead a new cabinet.

But the SCAF, which took over when president Hosni Mubarak was ousted on Feb. 11 last year after a popular uprising, has continued to back Prime Minister Kamal AlGanzuri’s government.

“This crisis must be resolved,” Katatni said before the Muslim Brotherhood announcement of a pending reshuffle.

“We have a lot of work ahead of us, including (reforming) the panel on the constitution. We have no wish to hamper parliament, but we need a solution, and that’s why I propose that parliamentary sessions be suspended for a week.”

Several members of parliament also demanded that the current government be dismissed, before Katatni’s proposal for a suspension was approved by MPs, with parliament next set to meet on May 6. -AFP

TRIPOLI: Libya’s interim ruling council decided Sunday to keep its current Cabinet despite an internal row over dismissing it for alleged incompetence, with a crucial election less than two months away.

The head of the National Transitional Council, Mustafa Abdul-Jalil, told reporters the Cabinet will stay in office to ensure the election is held on time.

The June vote is meant to choose a 200-member assembly to form a government and prepare for writing Libya’s new constitution.

“Time is short, and any changes or new measures could obstruct the election of the national council, which is a date that is most important for Libyans and internationally at this critical phase,” he said.

Both the NTC and the Cabinet headed by Prime Minister Abdurrahim El-Keib have faced persistent criticism that they have been ineffective in tackling the multiple troubles facing the deeply divided nation.

The NTC has struggled to impose its authority over the country since the overthrow of Muammar Gadhafi. Much of the nation is ruled by tribes and militia forces, and clashes among them have been frequent. Last week the NTC voted no confidence in the Cabinet but failed to agree on who would head a new one. -AP

tafa Al-Shamali in Cabinet is unacceptable to the Bloc. The bloc members intend to ask the premier to dismiss Al-Shamali from his post, or else the face questioning and a vote of no-confidence within two weeks.

The sources further revealed that the delegation will explain to the prime minister the irregularities and shortfalls in the finance minister’s performance and will accordingly support these claims with substantiated and palpable evidence. The MPs will argue that the continuity of the minister in his post “hinders the development of the country.”

Meanwhile, MP Jamaan Al-Harbash asserted that members of the Majority Bloc met on Sunday at MP Mubarak Al-Waalan’s diwaniya where it was decided that an interpellation motion will be filed against the minister within 14 days.

CONTINUED ON PAGE 2

Sudan declares state of emergency in border areas

JUBA: South Sudan has told the United Nations it will pull all police out of a disputed region bordering Sudan and is committed to halting all fighting with its northern neighbor, but Khartoum declared a state of emergency in some border areas. The conflicting developments on Sunday raised questions whether United Nations appeals for an end to more than three weeks of border clashes between Sudan and South Sudan would bear fruit and avert full-blown war in an oil-producing region. South Sudan, which gained independence from Sudan nine months ago under a 2005 settlement, informed the United Nations that it planned to withdraw all police from the Abyei region, according to a letter from Juba’s mission to the world body.

The letter, dated April 28 and seen by Reuters on Sunday, also said South Sudan was committed to an “immediate cessation of all hostilities” - after the African Union ordered both parties to stop fighting.The decision to withdraw from Abyei was taken at a cabinet meeting chaired by President Salva Kiir on Saturday. “All of these acts of peace are being done to reaffirm and demonstrate with concrete measures my government’s true commitment to finding a peaceful solution to the outstanding matters with the ReMore on 4 public of Sudan,” said the letter.

Sarkozy denies Gaddafi ‘funded’ 2007 campaign

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Tiny folds can boost performance of solar cells

Foreigners residing in Lebanon hold a sign during a cultural parade and festival to celebrate International Workers’ Day and to call for an end to Lebanon’s sponsorship system for migrant domestic workers in the Lebanese capital Beirut on April 29, 2012. (AFP)

NEW YORK: Microscopic folds increase the power output of flexible, cheap solar cells, a new study finds according to LiveScience. Scientists drew inspiration from leaves to design tiny folds on the surfaces of photovoltaic materials.

The team, led by scientists from Princeton University, reported online April 22 in the journal Nature Photonics that the folds resulted in a 47 percent increase in electricity generation. Yueh-Lin (Lynn) Loo, the principal investigator, said the finely calibrated folds on the surface of the panels channel light waves and increase the photovoltaic material’s exposure to light.

“On a flat surface, the light either is absorbed or it bounces back,” said Loo, a professor of chemical and biological engineering at Princeton. “By adding these curves, we create a kind of wave guide.

And that leads to a greater chance of the More on 15 light’s being absorbed.”

London flats set to host missiles for Olympics

LONDON: Residents of a London apartment block have been told that surface-to-air missiles were likely to be installed on the building to help combat airborne terror threats to the Olympic Games.

Giant Olympic Rings on a barge float next to the Thames Barrier on the river Thames in London. Residents of a London apartment block have been told that surface-to-air missiles were likely to be installed on the building to help combat airborne terror threats to the Olympic Games.

“A high-velocity missile system may be situated on the roof” and 10 soldiers stationed in the building for two months for the Games, which start on July 27, according to a leaflet distributed to residents.

The Ministry of Defense confirmed it was scouting locations as Britain prepares to mount its biggest peacetime security operation for the Olympics.

“Ground-based air defense systems could be deployed

as part of a multi-layered air security plan for the Olympics, including fast jets and helicopters,” a spokesman for the ministry said in a statement.

“Based on military advice, we have identified a number of sites and... are talking to local authorities and relevant landowners to help minimise the impact of any temporary deployments,” he said. The ministry has made no final decision on deployment of missiles, but is evaluating sites alongside police, the statement added.

Brian Whelan, a journalist and resident of the apartment block in Bow, east London, told AFP: “They’re going to do a dummy run and if it goes well, there will be high-velocity missiles stationed on my building, along with soldiers.

“It seems like it’s completely written in stone -- there’s been no consultation. They announced it in a way that makes it seem like some kind of prize that I’ve won, to be living on an army base, which is insulting.” -AFP

Devotees from the Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha participate in a ‘Mahayagna For World Peace’ prayer gathering in Ahmedabad on April 29, 2012. The gathering, attended by some 25,000 devotees, was held to offer peace prayers and to celebrate 50 years of spiritual and social services by the Bochasanwasi Shri Akshar Purushottam Swaminarayan mandir. (AFP)

China rejects Philippine request for mediation in sea row

BEIJING: China said Sunday it had rejected a proposal by the Philippines for international mediation to resolve their maritime dispute in the South China Sea. China “formally protested after a request for international mediation submitted by the Philippines over the sovereignty of the Scarborough Shoal,” said a statement published on the foreign affairs ministry’s website.

The head of the department of boundary and ocean affairs Deng Zhonghua informed the Philippine embassy in China of the formal protest the ministry said.

Deng said that given the “Scarborough Shoal is an integrative part of Chinese territory”, the submission “contravenes the fundamental principles of international relations, and also inflicts serious damage on the current international order.”

“China demands that the Philippines respects the sovereignty of Chinese territory and does nothing more to aggravate or complicate the situation further,” the statement said.

China claims all of the South China Sea as part of its territory, even waters close to the coasts of the Philippines and other Southeast Asian countries.

The Scarborough Shoal is only about 230 kilometers from the Philippines’ main island of Luzon, while the nearest Chinese landmass is Hainan province 1,200 kilometers to the northwest, according to naval maps. -AFP

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ALWATAN DAILY

kuwait

mondAY, april 30, 2012

MP Al-Fadhl accuses MP Al-Tabtabaei of corruption

MP Waleed Al-Tabtabaei (left) and MP Nabeel Al-Fadhl (right) are seen during a recent Parliament session held on April 24, 2012. (Al Watan) Staff Writer

KUWAIT: Member of Parliament (MP) Nabeel Al-Fadhl said in a statement on Sunday that some MPs take advantage of their power and influence to achieve personal gains although they claim to be against corruption. He added that MP Waleed Al-Tabtabaei has appointed his wife at the Public Authority for Housing Welfare in addition to employing her at his office. He remarked that MPs do not have the right to take actions seen in the benefit of their family members, while asserting that he will stand up to any MP who tarnishes the image of the National Assembly through

Parliament committee OKs human rights body

such actions. He stressed that he doesn’t hold any grudges against Al-Tabtabaei, yet adding that the lawmaker should have known better than to take such step.

Moreover, he mentioned that Al-Tabtabaei, who is religious and who swore to protect justice and equality, has a son called Musaed who graduated from Kuwait University in 2008. Musaed, did not wait like fellow citizens for his turn to be appointed because Al-Tabtabaei used his influence to appoint him at the Audit Bureau.

However, Al-Fadhl said that Musaed was terminated from his job three months after his employment due to his attendance, which therefore obliges him to wait for a year

KUWAIT: The National Assembly’s Legislative Committee approved Sunday a proposal for setting up a national organization for human rights. “The committee has approved the proposal but stated that the organization should report to the minister of state for cabinet affairs instead of the minister of justice,” the committee Rapporteur Member of Parliament (MP) Mohammad Al-Dallal told reports.

He added that the proposal was referred to the Human Rights Committee for deliberation and approval.

Al-Dallal pointed out that the committee has mulled and passed bills on housing support, labor housing, setting up real estate companies and pricing flats in Al-Sawaber housing complex and trade fraud and counterfeit.

The committee refused to pass draft laws on countering favoritism in government agencies and protecting oil wealth as they contradicted article 50 of the constitution.

It referred the bills to relevant committees for further deliberations and approval. -KUNA

before being reemployed in a governmental institution, according to the law.

Nevertheless, Musaed was appointed at the Public Authority for Housing Welfare, “which seemingly now has become a Tabtabaei family institution”. He added that although scholarships have been suspended since 2005, Musaed received a scholarship that was approved by the minister several months after his appointment.

Al-Fadhl said that “such MPs who claim to be against corruption are the corruptors who use their power to make personal gains for themselves and family members.”

He expressed his disappointment in the former minister

Lawmakers press for constitutional amendments

CONTINUED FROM PAGE 1

He added that the Coordinative Committee affiliated to the bloc has been tasked with setting out a list of key legislations to finalize over the course of the current legislative term. Al-Harbash equally spoke of the need to implement reforms in a number of ministries. The lawmaker added that the said committee will meet next week to outline bill proposals which will be presented to the bloc during its scheduled meeting at MP Khaled Al-Tahous’s diwaniya next week. Elaborating on this, he noted that these legislations are related to electoral reforms, the judiciary, fight against corruption as well as the appointment of senior state officials.

On the other hand, a number of independent-minded MPs have rejected calls for the dismissal of Al-Shamali, arguing that such demands are unconstitutional. The MPs stressed that the minister should be held accountable through constitutional means. An independent MP noted that the Minority Bloc will confront the government in the event that the minister is fired and will consider the move

Ahmed Al-Fahad for approving the appointment papers of Al-Tabtabaei’s son and criticized Al-Tabtabaei for chanting slogans at the Determination Square, calling for the former Prime Minister Sheikh Nasser Al-Mohammad to step down.

He stressed that his role is to purify the National Assembly from all forms of corruption and wondered how Al-Tabtabaei would be bold to hold the government accountable for its corruption, although “he is corrupt”.

Meanwhile, he stated that the interpellation filed against Minister of Finance Mustafa Al-Shamali should be a closed door interpellation, since it will discuss the financial status of Kuwait and other national security issues.

a breach of the Constitution and the law.

Earlier, MP Mubarak Al-Waalan stated that a message will be relayed to the prime minister to be discussed by the majority. He however declined to reveal the content of the message to reporters.

The lawmaker stressed that the Majority Bloc remains adamant that the minister should step up to the podium and face questioning.

Al-Waalan stated that the Majority MPs have agreed to file an interpellation against the finance minister after two weeks. “And prior to that, will present the issues contained in the motion to the people of Kuwait,” the MP was quoted.

Noting that the members arrived at certain agreements, the lawmaker expressed hope that the people of Kuwait would not be disappointed.

The lawmaker further pointed out that the priorities of the Majority Bloc remain unchanged, adding that the members have also agreed to convene a meeting with the aim of discussing a range of draft laws so that they can be proposed to the government for endorsement.

Municipal committee urges end to ban on US meat imports KUWAIT: The municipal committee in charge of food safety issued a recommendation to lift the ban on meat imports from the United States, which was imposed due to mad cow epidemic disease, the President of Food Safety Committee in Kuwait Municipality Mohammad Al-Otaibi said Sunday.

Al-Otaibi told Kuwait News Agency (KUNA) that the committee called upon the Director of Animal Health Administration in the Public Authority of Agriculture Affairs and Food Resources (PAAF), to report to it about decisions lifting regarding the ban on meat imports, particularly from Oklahoma and Alabama States.

During a committee meeting, a recommendation was also made calling for keeping the ban on Irish meat imports, and cancelling the bank on Spanish olive oil, Al-Otaibi said. -KUNA

Tueller refutes number of citizens Taxi commuters claim law on use of meter holding American citizenship ignored, inconsistent implementation Ricky Laxa Staff Writer

FILE - The American Ambassador to Kuwait, Matthew H. Tueller, is seen during a meeting with Al Watan Newspaper on April 23, 2012. (Al Watan) Jameel W. Karaki Staff Writer

KUWAIT: American Ambassador to Kuwait Matthew H. Tueller said in a statement on Sunday that the “US law does not prohibit a US citizen from having another nationality. The US government does not maintain information on the number of citizens who may hold additional nationalities.” The statement was given by Tueller in

a private diwaniya gathering held on Saturday evening.

Member of Parliament (MP) Mohammed Al-Juwaihel said on Saturday that he obtained information from a senior US Embassy official which revealed that more than 15,000 Kuwaitis hold the American citizenship. Holding a dual-nationality is prohibited by law in Kuwait, where the citizen could be stripped off his nationality if found holding another passport.

Trial of Qatari accused of overrunning citizen begins today Ibtisam Saeed Staff Writer

KUWAIT: The trial of the Qatari national accused of overrunning Ahmad Assad, a Kuwaiti, begins today after the Prosecution formally completed its investigations into the case. The defendant remains in custody at the Central Prison awaiting trial for attempted murder.

On the other hand, the Court of Appeal adjourned Mohammad Al-Maimuni’s case until May 20. Meanwhile, a judge has ordered the renewed detention of Hamad

Al-Naqi, a Kuwaiti national accused of blaspheming Prophet Mohammad (PBUH).

In another development, the Criminal Court adjourned a case involving 32 Bedouns (Stateless Arabs) who face charges of staging an unauthorized demonstration.

The case has been deferred until June 3 to hear the defense.

Also, the Public Prosecution ordered the release of three defendants accused of storming the Scope TV last week. They have been released on a bail of 1,000 Kuwaiti dinars each.

KUWAIT: Commuters cry foul as taxi drivers refuse to use the meters and instead demand rates higher than the usual charges. However, Taxi drivers denied allegations and claimed that passengers have the options to choose taxi meters or usual rates. Call taxi centers stated that passengers are pre-advised by operators on fixed rates and that use of meters have never been practiced. Passengers claimed that operators, drivers and owners of taxis are in violation of the law and must not be tolerated. Authorities are urged to review the implementation of the meter law for the benefit of commuters.

An interview with daily taxi commuters revealed that the use of meters have been ignored by drivers, while passengers’ persistence to use it often ended up with drivers’ refusal to provide the service. Rather, the drivers increase the rates based on the meter reading since passengers are not aware of the mileage conversions to amount in equivalent. To avoid discussions and easy access to taxi services, passengers often go with drivers’ whims and often abusive attitude inside the taxi, to worsen situation, public taxis often demand from passengers to share transport services with additional passengers often picked up along the way, thus causing unsafe situations for women, inconvenience in travel time and all for the benefit of the drivers.

Regular police checkpoints, which are ideal opportunities for authorities to check meter’s use, fail and oversee to perform such checks. In many occasions, drivers who know of legal repercussions, if caught during check points, switch on the meters and advised their passengers to inform police authorities that they recently boarded the vehicle and that no prior arrangement on rate has been made.

Taxi driver L.F. told Al Watan Daily that the allegations made by the public that drivers refuse to use meters and instead demand high rates is untrue, however, he said that the passengers’ refuse to use meters and prefer to bargain for the rates.

“Cases vary and that public must not rope in taxi drivers in general. We are aware of the law and know fully the repercussion should we violate the ordinance, such are license revocation and suspension and taxi operators’ licenses could suffer similar fate. I have several passengers refusing to use meters, for reasons that it will cost more and in particular those distant places and traffic congested areas such as Hawally, Fahaheel, Jleeb and Shuwaikh”, commented L.F. To add another, driver K.M. stated that drivers are often flexible to the demands of the passengers on the issue of rates and fees. “It’s a matter of agreement between the driver and passenger as to how much is the fee although we go with popular rates such as if the distance is between the same area cost KD.500 to KD .750 fils, locations such as Salmiyah to Jabriyah can cost KD 1 to KD 1.500, Salmiyah to Shuwaikh KD 1.500 to KD 2 as against regular call taxis using regular meters with additional KD.500 to KD 2 and for such reasons, passengers prefer to use regular taxis often flagged down on streets. It all boils down to passengers’ choice”, commented K.M. As for call taxi manager M.A.A., he told Al Watan Daily that the law took into effect early 2000 and later appealed by the operators; unfortunately the petition lost but did not stop the operators from implementing their own demands and requirements from passengers. M.A.A. affirmed earlier claims that most, if not all call taxi operators do not implement taxi meters

A taxi meter being installed inside a cab in Kuwait. (Agencies)

and use fixed rates based on distance. “If passengers question the failure to use the meter on call taxi services then why tolerate the airport taxis, which also do not use meters and other limousine services that often prey on the helpless and if not uninformed tourists or foreign visitors, why pick on us when we provide cheaper and better accessibility of transportation for passengers?” questions M.A.A. Taxi operators, however, dismiss allegations that they abuse passengers’ helpless situations. “This is not unlawful. The rates have remained the same for so many years. We can only charge passengers based on distance covered but passengers need to know that such rate applies only until before midnight and that a little bit of increase in amount is applied.We cannot increase fares unless the government agrees to it,” another taxi operator said. There are two types of public taxis available in Kuwait; Call and roaming. The call taxi receives call from passengers via operators, picks up and drops passengers on intended destinations. The roaming taxi picks up just about any passenger along the street. The roaming taxi charges a minimum of 150 fils while the call taxi charges 250 fils with an additional 50 fils per kilometer covered.

Kuwait’s Ministry of Public Transportation official affirmed that law stipulates comprehensive and mandated use of meters among taxis in Kuwait and will not hesitate to apprehend those caught and reported violating it.

The official also admits that the law has been overlooked and must be reviewed and implemented.

ALWATAN DAILY

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mondAY, april 30, 2012

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Iraq affirms desire to tackle hanging issues with Kuwait BAGHDAD: A scheduled meeting of the joint Kuwaiti-Iraqi commission concluded on Sunday and officials of the two sides started talks within framework of sub-committees to address a host of issues concerning the two neighboring states.

The delegation had been greeted upon arrival by Iraqi Foreign Minister Hoshyar Zebari and a host of Foreign Ministry officials, along with other state figures.

The major session, presided by Kuwaiti Deputy Prime Minister and Foreign Minister and Minister of State for Cabinet Affairs Sheikh Sabah Al-Khalid Al-Hamad Al-Sabah and Iraqi Foreign Minister Hoshyar Zebari, lasted for one hour. Shortly later, officials from the two sides joined several meetings to tackle topics in the long agenda of the meetings.

The Iraqi and Kuwaiti sides discussed issues related to common oil fields, maintaining border marks, navigation through Abdullah waterway, transports, environment, building of the Kuwaiti consulate in the southern city of Basra, Kuwaiti Airways, war compensations, debts and allocation of five percent of Iraq’s oil sales’ proceeds for the compensations for Kuwait.

A well-informed source told Kuwait News Agency (KUNA) that the two parties were seeking to reach “positive outcomes, as aspired by the peoples of Kuwait and Iraq,” indicating at a prevailing optimistic atmosphere among members of the committees.

The Kuwaiti delegation that took part in the hour-long meeting of the higher committee, held at Al-Rashid Hotel in Baghdad, included Deputy Prime Minister and Finance Minister Mustafa Al-Shimali, Communication Minister Salem Al-Othaina, Oil Minister Hani Hussein, Advisor of the Amiri Diwan Mohammad Abul-Hassan, senior officials of ministries and departments.

The Iraqi side included Minister of Finance Rafea Al-Isawi, Transport Minister Hadi AlAmeri, Human Rights Minister Mohammad Al-Sudani, Head of the Investment Public Authority Sami Al-A’raji, Deputy Foreign Minister for Political Planning Affairs Lubaid Abawi and Interior Undersecretary Ahmad Al-Khafaji.

Zebari re-affirmed on Sunday Baghdad’s keenness on bolstering relations with Kuwait at various levels and reaching solutions to all pending issues concerning the two neighboring countries.

He re-affirmed Iraq’s abidance by all international obligations, namely UN resolutions related to the “State between Kuwait and Iraq,” in line with the Iraqi Constitution and its political system, noting that “escalatory rhetoric” at the political and media levels would not serve interests of the two states.

“There are certain matters which have been imposed on Iraq under Chapter VI, thus there must be adherence by these commitments regardless of who rules the country, and we have

Photo of Kuwaiti Deputy Prime Minister and Foreign Minister and Minister of State for Cabinet Affairs Sheikh Sabah Al-Khalid Al-Hamad AlSabah during Kuwaiti-Iraqi commission meeting held on Sunday, April 29, 2012. (KUNA)

no other choices because these resolutions concern the country, not the ruler,” Zebari said, in his address to the eminent Kuwaiti guests.

These matters are understood by Iraqi politicians and intellectuals, but “cannot be fathomed by the ordinary people who believe that there is injustice for being blamed for actions they have not done,” the minister said, indicating that many Iraqis believe they should not be held accountable for hostile actions of the defunct regime of the executed leader, Saddam Hussein, “therefore the Iraqi people need to be prepared to fathom such topics.” Kuwait was among the first states that stood alongside of “new Iraq” and backed it at regional, Arab and international quarters, he said, praising Kuwait’s stances toward Iraq following downfall of Saddam’s regime, whose forces invaded Kuwait in 1990 and occupied the country for some seven months.

Zebari indicated that the Iraqi government had exerted tremendous efforts to “rid Iraq of some of the international resolutions,” that had been enforced due to Saddam’s offensive on Kuwait, noting that the country was “subject to more than 70 international resolutions issued by the Security Council under Chapter VI on matters such as weapons of mass destruction, disarmament, nuclear arms, outcomes of the

Arab Media Forum addresses issues in shadow of ‘Arab Spring’

KUWAIT: Ninth session of the Arab Media Forum, themed “the Arab Media Spring,” kicked off on Sunday under patronization of His Highness the Prime Minister Sheikh Jaber Al-Mubarak AlHamad Al-Sabah.

Secretary General of the Arab Media Forum Madi Khamees said in a statement on the occasion that Tunisia was chosen as the honorary guest of the forum in line with slogan of the session, the ‘Arab Media Spring’, also noting that the Tunisian media made strides in upgrading and updating its infrastructure.

Moreover, Tunisia, since launch of the Arab Spring events, has accomplished many democratic achievements that boosted freedom of expression and media profession, for service of higher objectives of the state, rather than narrow and personal interests, he said, alluding to policy of the ousted regime of Zine El-Abidine Bin Ali. Several eminent figures will be honored during the event, he said, naming Prince of Makkah region and founder of the Arab Thought Foundation, Prince Khaled Al-Faisal, Chairperson of the Jordanian Media Institute and member of the Board of Commissioners of the Jordanian Royal Authority for Movies Princess Reem Al-Ali, the Lebanese writer, Samir Atallah, the media figure, Nasser Al-Sanou’si, and Chairperson of the Tunisian Journalism Union Najiba Al-Hamrouni.

An exhibition was held on the sidelines of the forum, which included four sessions addressing issues such as the Arab media in shadow of the Arab Spring. Officials, eminent media figures and journalists will address this session.

They include Tunisian Minister of Human Rights Samir Dilo, Chairman of the Arab Parliament Ali Deqbasi the Lebanese columnist, Jihad Al-Khazen, the Saudi journalist, Jamal Al-Khashokji, the Chief Editor of the Moroccan newspaper, Al-Akhbar, Toufic BouEshreen, and the head of the Iraqi media network, Dr. Mohammad Abdul-Jabbar Al-Shabbout.

The second session of the gathering, themed “the media from state authority to masses’ authority,” included lectures by the media figure, Khairi Ramadan, the Dean of Egyptian journalists, Mamdouh Al-Wali, the deputy chief editor of the Iraqi newspaper, Al-Mada, Adnan Hussein, the publisher of Elaf, Othman Al-Omair, Samir Atallah, the Kuwaiti journalist, Ahmad Al-Fahad, the chairperson of the Tunisian union of journalists, Nejiba Al-Hamrouni.

The third session on “future of the Arab-Western relations in shadow of political changes,” will be addressed by the female journalist, Karima Awad, Lebanese Minister of Information Walid Al-Daouk, the spokesperson of the British government for the Middle East and North Africa, Rose Davis, the member of the Kuwaiti Parliament, Mohammad Al-Sager, the member of the Saudi Shura Council, Dr. Fahad Al-Arabi Al-Harthi, and the Libyan journalist, Mahmoud Shammam.

The third session would be followed with open dialogue, to be run by Al-Khamees, with attendance of Deputy Prime Minister, Foreign Minister and Minister of State for Cabinet Affairs, Sheikh Sabah Al-Khalid Al-Sabah, and Information Minister Sheikh Mohammad Abdullah Al-Mubarak Al-Sabah.

Conclusion ceremony will be marked with an address by the Arab League Secretary General Nabil Al-Arabi, the participating Tunisian official and Sheikh Mohammad Abdullah Al-Mubarak. -KUNA

invasion and aggression and oil for food issue.

Iraq, in the end of 2010, succeeded in “ridding” the nation of dozens of UN resolutions under Chapter IV. “What has remained is a number of resolutions related to the State between Iraq and Kuwait concerning issues such the borders, resolution 833, the missing and prisoners, properties, the archive and compensations,” he added, shedding further light on Baghdad’s efforts to free itself of constraints of Chapter VI. Anew, Zebari praised attendance of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah of the recent Baghdad Arab summit, for his presence left substantial effects at the popular, regional as well as international levels, noting that Sheikh Sabah was among the first Arab leaders who had expressed readiness to be in Baghdad for taking part in the toplevel meeting.

Zebari praised Sheikh Sabah further, because at the time, there was much skepticism and buzzing rumors about venue and date of the summit, however, His Highness the Amir remained adamant on his planned intention to take part in the meeting in the Iraqi capital.

This stance was applauded by President Jalal Al-Talabani, Prime Minister Nouri Al-Maliki, members of the Iraqi government and the

whole Iraqi people.

Turning to the visit by Prime Minister Nouri Al-Maliki to Kuwait, ahead of the summit, he said that his talks with the Kuwaiti officials dealt with the sticking issues and resulted in paving way for opening a new chapter in the bilateral ties, with a new approach to tackle such issues in a constructive manner.

“Such an atmosphere still persists and will be crowned with the substantial ministerial meeting that will be capitalized upon for further enhancement of these ties,” the veteran Iraqi official said, noting that all issues concerning the two countries “could be resolved.” He re-affirmed Iraq’s respect for Kuwait’s borders in line with relevant UN resolutions and Baghdad’s commitment to the financial liabilities for the neighboring country.

However, he added “certain matters can be addressed on bilateral basis, for Iraq should not remain subject to Chapter IV indefinitely.

Moreover, Kuwait and its people and the Amir should not be accused of hampering Iraq’s efforts to liberalize from this resolution.” He reaffirmed that the joint Kuwaiti-Iraqi talks due later today would address such crucial issues, namely Iraq’s abidance by the UN resolutions, such as resolution 833, the borders, “and the demarcation the borders as well the issue of the

‘No leniency in facing attempts to violate rights, freedom, oppressing strikes’

Fahad Al-Loban Staff Writer

KUWAIT: Head of Kuwait Workers Union Federation Fayez Al-Mutairi asserted that the protection of the union rights and freedom is one of the responsibilities of unions during the coming period. He added that workers have the right to go on strike and stressed that no one can deny workers from practicing this right. He added that all employees in various sectors have rightful demands that have been locked in the drawers of Civil Service Commission employees for a long time. He said that the union has asked the government and the commission to meet those demands, such as amending the civil service law that has been issued in 1979, since this law cannot be followed in the present.

Moreover, he mentioned that the union will resist all attempts of the government to violate or restrain the right of workers to hold strikes, because holding strikes is a constitutional right and is part of international agreements that Kuwait has signed. He stated that social and economy conditions in Kuwait are deteriorating because the government has neither approved development projects nor issued legislations that accelerate economy growth. He revealed that there is an obvious economy crisis that is evident by the increase in process in Kuwait, where food items and other consumption commodities witness constant increase in prices. He went on to say that this leads to an increase in the costs of public services, transportation, medical services, housing, and education, which negatively impacts the social and economy life of citizens and expatriates.

farmers.” The State of Kuwait officially calls for maintaining - and not demarcating - the border line.

Elaborating, the minister indicated at necessity of discussing the issue of the ports, with no infringement on Kuwait’s sovereignty and its rights.

He expressed hope that such matters be tackled in a final manner for sake of folding the chapter of past painful events that had strained the ties, also indicating at mutual desire to regulate commercial exchanges.

Iraq has cooperated with Kuwait, through the UN special delegate, to determine destiny of Kuwaiti prisoners, he said, expressing readiness to be involved in deeper cooperation for pursuing this issue and locate whereabouts of the missing persons and prisoners on Iraqi territories. “We have already proven readiness for cooperation with disclosure of remains of dozens of them,” he added.

In his extensive statement to the Kuwaiti guests, Zebari affirmed necessity of tackling the issue of the Kuwaiti archive and properties, on bilateral basis, “for we have placed this topic under the humanitarian issues category, and I believe that we will reach better results through such channels, rather than linking it to resolutions of the Security Council.”

Moreover, Iraq has paid five percent of its oil proceeds as war compensations for Kuwait.

“What is left is 17 billion US dollars, with some proposing that the sum be invested in Iraq, and we accept all notions related to the compensations including those that call for paying them,” he said.

Zebari, furthermore, indicated that tackling the issues with Kuwait would warrant certain mechanisms, and emphatically denied reports that Baghdad had requested to be granted membership in the Gulf Cooperation Council (GCC). “Our principle in Iraq is based on non-participation in any axis,” noting that the nation suffered due to Saddam’s regional policies.

He re-affirmed significance of the upcoming G5+1 states’ meeting due in Baghdad on May 23 for it would tackle the crucial issue, Iran’s nuclear file. Holding the meeting in Baghdad would prove that Iraq could play the role of being a bridge between Iran on one hand and the US and Europe on the other, he noted.

In the final minutes of the talk, Zebari repraised Sheikh Sabah, “who we name as the Sheikh of Arab diplomacy,” alluding to his long service, in the past, as the foreign minister of Kuwait. He also lauded the present and former foreign ministers of the country.

Touching anew on the ties, Zebari said, “we have reached a stage of maturity and we will pick the fruits soon,” affirming that it was an easy task to bolster the bilateral relations once good intentions, mutual confidence and respect existed. -KUNA

Kuwait embassy in Saudi Arabia welcomes PAYS, KSF delegations

RIYADH: Kuwait embassy in Saudi Arabia welcomed on Sunday the participating delegations of the Public Authority for Youth and Sports (PAYS), and Kuwait Squash Federation (KSF) at the Gulf Youth Conference, and 18th Gulf Squash Championship including tournaments for players under 17. Kuwaiti Charge d’Affaires in Saudi Arabia Chancellor Theyab Al-Resheedi welcomed the Chairman and Director General of PAYS Major General Faisal Al-Jazzaf, and the accompanying delegation in a dinner banquet held here last night in their honor. He also welcomed Chairman of KSF Hussein Al-Maqseed, and members of the accompanying delegation, wishing them further success, and congratulating them on claiming the 18th Gulf Squash Championship Cup. -KUNA

Kuwait makes record in children vaccination: Minister KUWAIT: The State of Kuwait has succeeded in vaccinating children at a proportion of 98 percent, much higher than the rate set by the World Health Organization (WHO) for immunization, 80 percent, Health Minister Dr. Ali AlObaidi announced on Sunday.

Dr. Al-Obaidi, in a statement marking Ministry of Health’s participation in the World Vaccination Week, affirmed Kuwait, a long time ago, has worked out a full-scale program to ensure immunization for children and adults, in implementation of WHO resolutions and guidelines.

The minister made the statement at a ceremony marking the occasion, held at Al-Saqer Health Center in the district of Al-Udailiah.

Achievement to secure vaccines for such a high number of children constitutes an incentive to make more accomplishments in this sector and cover all segments of the society, Dr. Al-Obaidi said.

Demonstrating his personal keenness on ensuring such treatment against communicable diseases, the minister injected a child against polio and gave vaccines to two adults.

The national program includes vaccinations against a variety of diseases, such as diphtheria, polio, hepatitis, meningitis and influenza. -KUNA

Health Minister Dr. Ali Al-Obaidi taking a tour in one of the local children’s hospital to mark the Ministry of Health’s participation in the World Vaccination Week on Sunday, April 29, 2012. (KUNA)

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ALWATAN DAILY

regional Scorched land

By Hossam Fathi Staff Writer

KUWAIT: It is beyond a doubt that there are hidden powers that are pushing Egypt off a cliff, because it is impossible to believe that all this economy and social deterioration, political vagueness, street wars, and the deterioration of relationships with neighboring countries can be spontaneous or unplanned. The revolution cannot be linked to the current mishaps, and the situation is getting grimmer.

The strategic reserve is dropping every day, and it has reached 10 billion US dollars, not to mention internal and external debts. Regardless of all this, no attempts were made to save the Egyptian economy.

Strikes and protests around the Ministry of Defense have resulted in over 100 injured people who fell after clashes between the supporters of Hazem Abo Ismail and thugs who claimed to be residents of the Abbasiya area. Those thugs confessed that they were paid to disperse or attack the protestors.

Protestors sparked a diplomatic dispute with Saudi Arabia after an insult to its political leadership, which prompted the kingdom to withdraw its diplomatic mission and shut down its embassy and consulates in Egypt. Such irrational actions forced Field Marshal Hussein Tantawi to apologize to King Abdullah. Egyptians have turned into bombs of anger that will explode in anyone’s face. hossam@alwatan.com.kw Twitter:@hossamfathy66

NEWS IN BRIEF Saudi Arabia says Bin Laden wives not tied to terror RIYADH: Saudi Arabia says there is no evidence that Osama bin Laden’s wives and family members deported to the kingdom are involved in terrorism. Sunday’s statement indicated Saudi Arabia would agree to host the entire 14member group, including three wives and children of the late Al-Qaeda leader. They were deported Friday from Pakistan.

The state-run Saudi Press Agency cites an official source saying there is no evidence of the family’s involvement in any “criminal or illegal acts.” One of the widows is Yemeni and the other two are Saudi citizens. Bin Laden was killed a year ago in a US raid on his compound in Pakistan. Saudi Arabia revoked bin Laden’s citizenship in 1994. -AP

Settler outpost can be cleared by July 15: Israel JERUSALEM: The Israeli prime minister’s office says the government has agreed to erect temporary housing that would allow for the evacuation of an unsanctioned West Bank settler outpost by July 15. Israel’s Supreme Court has ordered that the Migron outpost be dismantled by Aug. 1. Earlier this month the court rejected the government’s request to defer the settlers’ expulsion until late 2015. The outpost was built on privately held Palestinian land, a practice the court outlawed decades ago. It has become a symbol of settler defiance as its residents resisted efforts to dismantle the enclave, in part by challenging Palestinian claims to ownership. The prime minister’s office made the announcement in a statement Sunday. -AP

Fighters in UAE are US-Israeli plot says Iran lawmaker TEHRAN: A prominent Iranian lawmaker says the reported basing of America’s most sophisticated stealth jet fighters in the United Arab Emirates is a US-Israel plot to create regional instability. Kazem Jalali was reacting to media reports of the recent deployment of F-22 Raptors at the UAE’s Al Dafra Air Base, which has long hosted US warplanes. The deployment was first reported in the journal Aviation Week, but US and UAE officials have not publicly commented. Jalali was quoted by the semiofficial ISNA news agency Sunday. Tehran and Washington are at odds over Iran’s nuclear program. The US and Israel say Iran is seeking nuclear weapons, a charge Tehran denies. The two countries have not ruled out military action against Iranian facilities. -AP

Al-Qaeda in Yemen says it frees captured soldiers SANAA: Al-Qaeda in Yemen said it released on Sunday 73 soldiers captured by its fighters during battles with government forces in the south of the country.

The terror network said in an emailed statement that the freeing of the soldiers followed mediation efforts by tribal elders and senior clerics. Relatives of some freed prisoners confirmed the release.

The freeing of the soldiers was likely to bolster the standing of the terror network in Yemen, where its fighters took advantage of more than a year of political turmoil to capture areas in the nearly lawless south. The negotiations went through both tribal and religious channels, suggesting that the Al-Qaeda network in the south has in some ways been integrated in the area’s social fabric.

The soldiers were freed in the city of Jaar in the southern province of Abyan in a ceremony attended by top leaders of the terror network in Yemen, including military leader Qasim al-Rimi, witnesses and the statement said. The mediation lasted three days and involved asking Yemen’s military to halt attacks on the city, including airstrikes, while the talks were in progress. The soldiers left in trucks and private cars for the nearby port city of Aden.

Jaar has been held by Al-Qaeda for a year. The province’s capital Zinjibar is also under Al-Qaeda control but government troops fought their way into its center last week. The released soldiers pledged in writing not to resume fighting Al-Qaeda militants, witnesses said. In a separate development, former president Ali Abdullah Saleh has resigned from his post as head of his one-time ruling Congress Party, paving the way for his successor, Abed Rabbo Mansour Hadi, to take over when the party holds its annual meeting later this year, party officials said. Abdul-Karim Al-Aryani, the party’s vice president, will lead the party until then. -AP

MOnDAY, april 30, 2012

Anti-military rule protester killed in Egypt CAIRO: Assailants attacked demonstrators gathered outside the Defense Ministry in Egypt’s capital to call for an end to military rule with rocks and firebombs, killing one protester and wounding 90, security officials said on Sunday. They said the clashes broke out late Saturday when the unidentified assailants set upon the protesters, also hurling fireworks and empty glass bottles. Neither army troops or police attempted to stop the three-hour street battle, witnesses said. They also reported hearing gunshots.

The officials said the dead protester was a supporter of ultraconservative politician Hazem Salah Abu Ismail. Many of those outside the ministry were Abu Ismail supporters angered by his disqualification from running in next month’s presidential election. He was thrown out of the race because officials ruled his late mother had dual Egyptian-US citizenship in violation of eligibility rules. The officials spoke on condition of anonymity because they were not authorized to speak to the media. Demonstrations in Egypt have frequently been attacked by unidentified assailants, particularly protests which are near or outside the Defense Ministry.

Rights and pro-democracy activists have blamed the attacks on undercover police, petty criminals on the police payroll, plainclothes army soldiers or supporters of the ousted regime of authoritarian leader Hosni Mubarak for the attacks.

Mubarak-era generals took over the reins of power when their patron stepped down 14 months ago in the face of a popular uprising. Opposition to their rule has built up over the last year after they were blamed for killing protesters, jailing critics of their rule and putting at least 10,000 civilians on trial before military tribunals. They have also launched a systematic campaign to undermine the youth groups credited with Mubarak’s stunning ouster, using the state media to portray them as irresponsible and linked to foreign powers.

Meanwhile, Egypt’s Islamist-dominated parliament has suspended its sessions for a week to protest the ruling military’s failure to heed its repeated calls for the dismissal of the government.

The legislature’s speaker, Saad El-Katatni of the powerful Muslim Brotherhood, announced the decision on Sunday after lawmakers spoke in a televised session against the government

An Egyptian man throws a stone during clashes between protesters and resident of the Abbassiya neighborhood in Cairo, on April 29, 2012. (AFP)

of Prime Minister Kamal El-Ganzouri and the ruling generals who appointed it late last year.

The move is likely to fuel tensions between the generals and

the Brotherhood, which controls just under half the seats in parliament. El-Ganzouri served as prime minister during the 1990s under longtime authoritarian leader Hosni Mubarak. -AP

Head of UN mission in Syria urges halt to violence BEIRUT: The head of the UN observer mission in Syria on Sunday called on President Bashar Assad and the country’s opposition to stop fighting and allow a tenuous cease-fire to take hold. Maj. Gen. Robert Mood spoke after arriving in the Syrian capital Damascus to take charge of an advance team of 16 UN monitors trying to salvage an international peace plan to end the country’s 13-month-old crisis. Under the plan, a cease-fire is supposed to lead to talks between Assad and the opposition on a political solution to a conflict that has killed more than 9,000 people.

Mood told reporters that the 300 observers the UN has authorized for the mission “cannot solve all the problems” in Syria, and asked for cooperation from forces loyal to Assad as well as rebels seeking to end his rule.

“We want to have combined efforts focusing on the welfare of the Syrian people,” he said.

“True cessation of violence in all its forms.”

The cease-fire began unraveling almost as

soon as it went into effect April 12. The regime has kept up its attacks on opposition strongholds, while rebel fighters have continued to ambush government security forces. Defying a major truce provision, the Syrian military has failed to withdraw tanks and soldiers from the streets. Despite the violence, the truce still enjoys the support of the international community, largely because it views the plan as the last chance to prevent the country from falling into civil war - in part because it does not want to intervene militarily.

Most analysts, however, say the plan has little chance of succeeding, though it could temporarily bring down the level of daily violence.

That has largely been the case in Homs, Syria’s third largest city, which has emerged as the heart of the uprising. Regime forces pounded parts of Homs for months, leaving large swaths of the city in ruins, before two UN monitors moved into an upscale hotel there last week.

Since then, the level of violence has

State security men detain Islamist activist in UAE

DUBAI: State security men on Sunday detained an Islamist activist who had criticized the United Arab Emirates’ security apparatus, his son said, amid a crackdown on Islamists in the Gulf Arab country.

Ten plain-clothes men, who identified themselves as security officials, arrived at a mosque in the northern Emirate of Ras Al-Khaimah after dawn prayers and took Saleh Al-Dhufairi, the general manager of an Islamist organization, the Holy Quran Foundation, his son told Reuters.

“They ran into the mosque and took my father to the car outside. I asked them who they were and one said they were police, while another said they were from the state security but they had no arrest warrants and didn’t show us any identification,” Hassan Al-Dhufairi said.

“They took him with them and I tried to open the door of the car but it was locked and they drove away, we don’t know where they took my father,” he said.

There was no official comment and it was not clear who had detained Dhufairi.

A spokesman for Ras Al-Khaimah police said he was not aware of any arrest. “We have no details on this case. We are not involved,” he told Reuters.

The UAE has weathered popular uprisings that have toppled four Arab heads of state since last year, thanks in part to its cradle-to-grave welfare system, but it has shown little tolerance towards dissent at home.

The top oil exporter is concerned that the rise of Islamists in other Arab countries could embolden its own Islamists.

Ras Al-Khaimah, one of the poorer emirates of the sevenmember UAE federation that includes business hub Dubai and oil-exporter Abu Dhabi, has been a source of occasional unrest and is scene to growing Islamist sentiment.

The closest Emirate to Iran, Ras Al-Khaimah sits near the Strait of Hormuz, through which 40 percent of the world’s traded oil passes. Some analysts point to the Emirate, which produced one of the Sept. 11 hijackers, as a scene of growing Islamism, although most say security risks are exaggerated.

In March, Al-Dhufairi was detained for “provoking strife” after criticizing the state security services on Twitter for interfering in the lives of citizens.

His son said that he was questioned by the state security’s prosecution department in Abu Dhabi last week on issues related to his previous detention, but was let go.

Al-Dhufairi’s arrest came a few days after reports that Sheikh Sultan Al-Qassimi, a cousin of the ruler of Ras AlKhaimah and head of the Islamist Al-Islah (Reform) group, was taken from his house by armed men and has since been held at the ruler’s palace.

The UAE revoked the citizenship of six Islamists it described as posing a threat to national security. Some of the men demanded greater power for the Federal National Council, an elected body that advises the federal government in Abu Dhabi.

The six men, all members of Al-Islah, were detained earlier this month after refusing to sign a declaration to seek a new nationality within two weeks.-Reuters

dropped, although gun battles still frequently break out. An amateur video posted online Saturday showed the observers walking through a heavily damaged neighborhood, where residents collected a body laying in the street and put it in the back of a pickup truck.

Mood, a Norwegian, was appointed head of the observer mission by UN chief Ban Kimoon. One hundred monitors should be in the country by mid-May, said mission spokesman Neeraj Singh. It is unclear when or if the full contingent of 300 monitors authorized by the UN will deploy to Syria.

Mood brings a wealth of Middle East experience to the job, including stints with UN peacekeepers in Lebanon in 1989-1990 and as the head of a UN peacekeeping mission known as UNTSO from 2009 to 2011. That mission was the UN’s first-ever peacekeeping operation and began after the 1948 Arab-Israeli war to monitor a cease-fire. It now monitors ceasefires around the Middle East.

The Syrian state news agency said observers visited the embattled Homs neighborhood of Khaldiyeh on Sunday, but provided no further information.

The Britain-based Syrian Observatory for Human Rights said government snipers shot dead two people in the neighborhood of Joret Al-Shayah, which borders Khaldiyeh.

The group, which relies on a network of activist in Syria, also said one civilian was killed and four wounded in random gunfire by security forces in the village of Al-Saliha in the central Hama province. Ban has blamed the regime for widespread violations of the truce - prompting Syria to fire back that his comments were “outrageous” and accuse him of bias.

The spat has further stoked concerns among the Syrian opposition and its Western supporters that Assad is merely playing for time to avoid compliance with a plan that - if fully implemented - would likely sweep him out of office.-AP

South Sudan says to quit border zone, seeks end to clashes JUBA: South Sudan has told the United Nations it will pull all police out of a disputed region bordering Sudan and is committed to halting all fighting with its northern neighbor, but Khartoum declared a state of emergency in some border areas. The conflicting developments on Sunday raised questions whether United Nations appeals for an end to more than three weeks of border clashes between Sudan and South Sudan would bear fruit and avert full-blown war in an oil-producing region.

South Sudan, which gained independence from Sudan nine months ago under a 2005 settlement, informed the United Nations that it planned to withdraw all police from the Abyei region, according to a letter from Juba’s mission to the world body. The letter, dated April 28 and seen

by Reuters on Sunday, also said South Sudan was committed to an “immediate cessation of all hostilities” - after the African Union ordered both parties to stop fighting.

The decision to withdraw from Abyei was taken at a cabinet meeting chaired by

President Salva Kiir on Saturday.

“All of these acts of peace are being done to reaffirm and demonstrate with concrete measures my government’s true commitment to finding a peaceful solution to the outstanding matters with the Republic of Sudan,” said the letter.

But in Khartoum, Sudanese President Omar Hassan Al-Bashir declared a state of emergency in some areas of South Kordofan, White Nile and Sinnar provinces bordering South Sudan, a state-linked media website said. It gave no further details.

The United Nations has urged Sudan and South Sudan to withdraw troops and police from disputed regions along their 1,800 km (1,100 mile) frontier in northeast Africa.

The conflict, which escalated after the two failed to agree on a string of disputes, has halted nearly all oil production in both countries, damaging their shaky economies.

South Sudan’s army seized the contested Heglig oilfield earlier this month but announced a withdrawal more than a week ago, bowing to UN pressure.

Both countries claim Abyei, a border region of fertile grazing land. Khartoum took it over last year after a South Sudanese attack on an army convoy, triggering the exodus of tens of thousands of civilians.

South Sudan seceded from Sudan in July, six months after a referendum agreed under a 2005 peace deal that ended two decades of civil war which killed more than 2 million people. A similar vote was originally planned for Abyei, but was never held as both sides have not been able to agree on who can participate.

There are 3,800 UN peacekeepers in Abyei after the Security Council authorized the deployment in June last year.

On Saturday, Sudan said it had arrested a Briton, a Norwegian and a South African, accusing them of illegally entering Heglig to spy for its adversary South Sudan.

South Sudanese officials denied the allegations and said the men were working with the United Nations and aid groups clearing mines and had got lost in the remote territory. -Reuters

Palestinain priests and Christians protest in support of jailed Palestinians on hunger strike in Israeli prisons in the West Bank city of Ramallah, on April 29, 2012. (AFP)

ALWATAN DAILY

WORLD

mondAY, april 30, 2012

Sarkozy denies Gadhafi ‘funded’ 2007 campaign Mediapart published this ‘documentary evidence of illegal campaign funding

PARIS: The government of the late Libyan ruler Muammar Gadhafi agreed to fund French President Nicolas Sarkozy’s 2007 election campaign with an estimated $66m, a French news website has reported.

The Paris-based investigative website Mediapart late on Saturday published what it said was documentary evidence of the illegal campaign funding.

Sarkozy strongly denied the allegations when first questioned by French journalists in March. Sarkozy’s campaign spokesperson Nathalie Kosciusko-Morizet dismissed the latest report as “ridiculous” and a “clumsy diversion” orchestrated by supporters of Francois Hollande, his Socialist opponent in the upcoming presidential election.

France has strict campaign financing laws, banning politicians from taking funding from foreign states.

The 2006 document, written in Arabic, was signed by Gadhafi’s intelligence chief Moussa Koussa, who reportedly now lives in Doha, Qatar.

Agreement in principle

It referred to an “agreement in principle to support the campaign for the candidate for the presidential elections, Nicolas Sarkozy, for a sum equivalent to 50 million euros [66 million US dollars]”.

The document refers to a meeting that allegedly took place on June 6, 2006, between Brice Hortefeux, Sarkozy’s close ally, and Ziad Takieddine, a Franco-Lebanese businessman who has been at the centre of a number of political scandals linked to Sarkozy and his inner circle.

During Sarkozy’s five years as president, Hortefeux has served as France’s immigration minister as well as national identity minister and interior minister. He has told Mediapart he had never met Moussa Kussa or Bashir Saleh.

Takieddine, who acted as an envoy for

Official investigation

Nicolas Sarkozy (left) received up to £42million from Colonel Muammar Gadhafi to fund his election as French president in 2007, it was sensationally claimed today. (EPA)

Sarkozy from as early as 2005, told Mediapart that he was not present at the meeting but that the document otherwise appears to be genuine.

‘Affaire d’Etat’

“This document proves that what we have here is an ‘affaire d’Etat’, whether these [$66m] were transferred or not,” he said.

“The investigation will be difficult because many of those present were killed during the war in Libya, but it’s still important that this document should be made public,” Takieddine, who has himself come under frequent investigation by the news website, is quoted as saying in the report.

Takieddine is already under investigation for his alleged role in the funding of Edouard Balladur’s failed 1995 presidential campaign for which Sarkozy was spokesperson.

Investigators suspect Balladur’s camp collected kickbacks on a deal to sell submarines to Pakistan and that a Karachi bombing that killed 11 French engineers was carried out by Pakistani agents in revenge after promised bribes went unpaid.

The allegations that Gadhafi had financed the conservative politician’s first presidential campaign first came from Gadhafi himself in March 2011, shortly before France went on to play a lead role in NATO’s military intervention in the north African country.

The investigative website has been following the story for more than a year, but claims the document published on Saturday offers the most concrete proof yet of the illegal campaign financing allegations.

The document, Mediapart reports, was given to it by former high officials from Libya “a few days ago”.

One killed, many hurt in grenade attack at Kenyan church NAIROBI: At least one person was killed and a dozen wounded in a grenade attack at a church in the Kenyan capital on Sunday, the latest in a series of attacks in the east African country since it sent troops into neighboring Somalia.

The blast was in a working class area of the city, police and Kenya Red Cross officials said.

“I can confirm that one person is believed to be dead,” police spokesman Eric Kiraithe said.

There was no immediate claim of responsibility.

The government has blamed previous attacks on Somali-based rebels Al-Shabaab, which formally merged with Al-Qaeda this year, but police said it was too early to say who was behind the blast at the church. “Chairs are thrown about and there is blood on the floor,” said Daniel Mutinda, a Kenya Red Cross official at the church made of iron sheet.

In late March, one person was killed when a grenade was hurled at a Christian meeting near the port city of Mombasa. A second explosion minutes after struck a bar near Mombasa’s main stadium.

The attacks on Mombasa followed one in the capital earlier last month at a bus station

Kenyan police officers secure the site of a grenade attack in Nairobi on April 29. (AFP)

which killed at least nine people. There have also been attacks near the border with Somalia

following Kenya’s deployment of troops there last October. -Reuters

US diplomat in Beijing as activist custody unknown BEIJING: A senior US diplomat arrived in China on a hurried mission Sunday as new problems - from possible US arms sales to Taiwan to the custody of a blind dissident - threaten to complicate relations with Beijing ahead of high-level talks.

Assistant Secretary of State Kurt Campbell avoided reporters, and the US Embassy declined to discuss his agenda. His trip, originally scheduled for later this coming week, comes after the White House said it is considering

selling new warplanes to Taiwan and after dissident legal activist Chen Guangcheng fled house arrest and ended up, rights campaigners said, in the protection of American officials.

Both Chen’s case, if he’s in US custody, and that of Taiwan touch on Beijing red lines against what it sees as meddling in China’s domestic affairs. Beijing will have ample opportunity to voice its displeasure at an annual confab on Thursday and Friday attended by US Secretary of State Hillary Clinton, Treasury

A woman walks past paramilitary police officers standing guard outside the US embassy in Beijing, April 28. (Reuters)

Secretary Timothy Geithner and dozens of other officials.

The meeting, known as the strategic and economic dialogue, is supposed to provide ballast for the often-bumpy relations by giving top-level officials a chance to discuss problems and look for solutions. This year, while frictions over China’s trade surplus and currency policies persist,Washington is seeking Beijing’s help on global and regional trouble spots, from the conflict in Syria to Iran’s and North Korea’s nuclear programs.

Chen’s case is likely to complicate things further. A campaigner against forced abortions and sterilizations, Chen spent four years in prison and then was kept in punitive house arrest for the past 20 months, despite the lack of legal grounds for doing so. Clinton and other US officials have repeatedly raised his case, though Beijing did nothing to abate the confinement, occasional beatings and other harsh treatment.

If Chen is now in the US Embassy or other diplomatic grounds, Beijing is likely to see it as evidence that Washington wants to subvert the communist government by aiding and encouraging political dissent.

Complicating any negotiations over Chen is the treatment of his family. While Chen escaped a week ago from Dongshigu village and made it 600 kilometers (370 miles) northwest to Beijing, his wife and child were left behind and their whereabouts are unknown.

Seven lawyers have volunteered to defend Chen’s nephew, Chen Kegui, who allegedly confronted and stabbed local officials who stormed his house in the middle of the night on Thursday in apparent retribution for the activist’s escape. Though activists said Kegui had been detained, the local government has denied holding him. -Reuters

“The discovery of the note written by Koussa requires an official investigation, whether that be judicial, police or parliamentary, on this episode, dark and concealed, in Franco-Libyan relations,” Mediapart writes.

Gadhafi paid a controversial visit to Paris in December 2007, shortly after Sarkozy won the presidency. The Libyan leader was allowed to pitch his Bedouin tent on the Elysee, leaving many commentators outraged.

Sarkozy will be seeking re-election on May 6, going up against the Socialist candidate Francois Hollande.

Bernard Cazeneuve, a spokesperson for Hollande, said in a statement on Saturday evening that Sarkozy “must explain himself before the French people” in response to the campaign funding allegations.

“Faced with such serious allegations, backed up by documents sourced from the Libyan dictator’s own entourage, Nicolas Sarkozy must explain himself before the French people,” Cazeneuve said.

“Several times in recent weeks, specific information has been published by the press, relating to France’s relationship with the Colonel Muammar Gadhafi’s regime these last few years.”

Hollande’s campaign also drew attention to the current president’s projects to sell French nuclear technology to Gadhafi, until September 2010.

Holland campaign

“The Holland campaign is calling on the police to open an investigation into these allegations,” Al Jazeera’s Jacky Rowland reported from the town of the southwestern town of Brive, where she was following the Socialist campaign. Whether the latest allegations are true or false, Rowland reported, they will remind voters of the many ongoing scandals related to campaign financing.

Allegations that Liliane Bettencourt, the L’Oreal heiress and the richest woman in Europe, made illegal contributions to Sarkozy’s campaign in return for tax breaks have, in particular, undermined his credibility with voters.

Sarkozy has always denied any wrongdoing in the 1995 campaign finance arrangements for Balladur’s campaign. -Agencies

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NEWS IN BRIEF Gunmen attack Christian worshippers in Nigeria’s Kano KANO: Gunmen detonated explosives and fired shots in an attack on a university theatre in the northern city of Kano used by Christians as a place of worship, an army spokesman and local residents said on Sunday. “The attack took place in one of the lecture theatres used as a place of worship by Christians. For sure there are casualties, but I can’t say how many,” Ikedichi Iweha, local army spokesman, told Reuters. Radical Islamist sect Boko Haram, which wants to carve out an Islamic state in northern Nigeria, has killed hundreds in bomb and gun attacks this year. It mainly targets police and authority figures but has also attacked churches. -Reuters

Malaysian police free all 471 protesters KUALA LUMPUR: Malaysian police said all 471 people arrested during a demonstration for free and fair elections, including a senior opposition lawmaker, have been freed. “We have released all of them,” national police spokesman Ramli Yoosuf told AFP on Sunday, adding that the MP had been identified as Tian Chua from Anwar Ibrahim’s Keadilan party. Security forces would decide later whether to file charges against the demonstrators, he said. -AFP

Australian PM orders embattled MP out of party SYDNEY: Australian Prime Minister Julia Gillard said she had asked a lawmaker embroiled in a scandal over payment for prostitutes to quit the Labor Party, in a blow to her fragile minority rule. Craig Thomson, whose vote is key to Gillard, is alleged to have used a former employer’s credit card to pay for prostitutes and lavish meals and make cash withdrawals before he became an MP. Gillard on Sunday said Thomson strongly denied the allegations and was entitled to the presumption of innocence but she had made a judgment call based on the need to preserve parliament’s reputation. -AP

Bombs hit Bangladesh capital amid strike DHAKA: Seven small bombs exploded in the Bangladeshi capital Dhaka on Sunday, police said, after an opposition supporter was shot dead in clashes ahead of a fourth nationwide strike in eight days.

Security was tight across the country with around 10,000 policemen deployed in Dhaka after the bombs exploded in the morning as shops, offices and schools were shut amid tensions over the disappearance of an opposition leader.

There was no damage or injuries from the explosions but one opposition supporter was shot dead elsewhere in clashes with ruling party activists late on Saturday.

The opposition Bangladesh Nationalist Party (BNP) has been leading angry protests since one of its leaders, Ilias Ali, went missing on April 17 in a case it believes was an abduction by the security forces.

The BNP supporter was hit by three bullets in the southern town of Lakshmipur during a fight between BNP and ruling Awami League party workers, police inspector Monirul Alam said.

“He died of his wounds after he was

rushed to a hospital,” Alam told AFP, adding another person was also critically injured.

Three other BNP activists were killed last week in clashes with police in Ali’s constituency in northeastern Sylhet district.

Police found Ali’s car abandoned in an upmarket district of Dhaka. His driver is also missing.

The BNP fear Ali has been killed and accuse the elite Rapid Action Battalion security force of abducting him, an allegation both the force and the government have rejected.

Ali is the highest profile opposition politician to have “disappeared” since Prime Minister Sheikh Hasina took power in January 2009.

Human Rights Watch (HRW) on Friday urged Bangladesh to order an independent investigation into the recent disappearances of opposition and political activists.

Quoting two Dhaka-based rights groups - Ain-O-Sailash Kendra and Odhikar - HRW said the disappearance of least 22 people was documented in 2012 alone and more than 50 people since 2010. -AFP

6

ALWATAN DAILY

OPINION

monDAY, april 30, 2012

Exploiting the parliamentary seat Nabil Al-Fadhl

D

uring the era of the former parliaments which were headed by the Jassem Al-Kharafi the Parliament Bureau used to receive the applications of the parliamentary committees to appoint specialized counselors to help the different committees to achieve their duty. After receiving applications the bureau selects some candidates.

Then the committees can chose any candidates who were already selected by the bureau.

The situation in the current parliament is different because the parliament is controlled with the desire of the leaders of the majority bloc.

Therefore, the committees select the persons whom they think is best for membership. The committees select their counselors and then the bureau and speaker approve that immediately even if counselors are not qualified for such a duty and even if such a step affects the reputation of the parliament.

As the majority bloc dominates the parliament the heads of committees who are members of the very bloc can order the bureau to implement the instructions that they issue! So, the counselor obtains many advantages that he did not even dream to get one day and he works as a spy for the MPs who appointed him through reporting to them the activities of the sessions of committees.

The oath that Mps took means that they have to abide by all articles of the constitution as well as respecting justice, equality and protecting the public fund.

Despite that such activities should be kept as secret ones.

At the present time, committees are full of counselors who were appointed by certain MPs. However, let us consider statements of certain MPs. The MP Al-Anjari shouted last Wednesday- during the parliamentary session- saying “enough is enough we want a regime similar to that of Jordan and Morocco”.

Anyway, I don`t have enough information about the Moroccan regime but let`s consider the Jordanian one. The Jordanian regime might share some characteristics with the Moroccan regime wherein the two countries suffer from poverty and the lack of the daily requirements for people! How genius are such MPs! Moreover, the Jordanian constitution indicates through article 35 that the King has the right to appoint the prime minister, approves his resignation or the resignation of ministers. In April 1921 Rasheed Talae was appointed as the first prime minister

Will Iraq be a Persian colony?

BU QUTADA & BU NABIL

The so called human rights organizations should denounce the brutal practices of the Syrian regime and it should warn the International Community against the dangerous policy of the regime which depends on the scorched earth policy.

Abdullah Al-Hadlaq

A

secret report in Bagdad unveiled that the Deputy Iranian President Mohammad Redha Rahimi had released a disastrous call for establishing union between Iran and Iraq under the pretext of defending the Shiite people of the two countries against challenges that endanger the two countries. In the meantime, the Syrian and Persian regime incite the leader of Daawa Party Nouri Al-Maliki to establish big military forces similar to the Iranian Revolutionary Guard and the forces of Maher Al-Assad in Syria. The leader of the new forces according to the plan should be from just one sect- the Shiite one- and it has the sole role of protecting the regime against any coups!

The Syrian and the Iranian regime have asked Al-Maliki to establish these forces as soon as possible as well as dismissing the Sunni and Kurdish leaders from the Iraqi security and military forces.

However, the Iraqi constitution bans establishing military forces according to sectarian criteria and the Chief of the Islamic Supreme Council Ammar Al-Hakeem rejected such a plan. But the Persian regime boycotted Al-Hakeem and suspended negotiations with him.

The Iranian regime also incited Muqtada Al-Sadr to support the prime minister to execute the plan but Al-Sadr rejected the plan too because it violates the constitution.

The Iraqi President Jalal Talibani and the President of Kurdistan made sure that the Iraqi premier will never carry out the agreements that they had signed before forming the current government. Moreover, the premier rejected establishing the National Council for Strategic Policies and preparing a bylaw to the cabinet. All these steps prove that the premier really thinks of executing the Persian plan.

The President of Kurdistan Masoud AlBarazani had rejected a deal which was expected between the United States and Iraq for providing Iraq with F16 jet fighters because the president feels the danger. He would especially reject this deal as long as the current premier Al-Maliki is in power as the premier might use such developed jets against Kurds.

The president said that he opposes that because Al-Maliki has already discussed the Kurdish issue and the differences between the two sides with his security leaders.

During the meeting, some leaders asked for expelling Kurds outside the Erbil area then Al-Maliki said wait until we get F16 jet fighters!

We wonder how certain organizations claim defending human rights and observing violations in this field such as Amnesty International and Human Rights Watch and

but he could not stay in office more than four months and since that time 71 prime ministers have been appointed. During the last 14 months three prime ministers were appointed as well as three new governments. Does Al-Anjari want to apply something that?

Although Jordan has different political parties, no party called for depriving the king from his constitutional rights!

When an MP is elected to represent people at the parliament then the very people who elected the MP have the right to bring him to account and the MPs should be good examples for people through abiding by the official laws. Especially those who have already sworn to obey and maintain laws. The oath that Mps took means that they have to abide by all articles of the constitution as well as respecting justice, equality and protecting the public fund. Corruption exists everywhere and every

time but the most dangerous kind of corruption is the corruption of personalities that were elected by people to represent them!

Even exploiting the parliamentary seat for achieving noble targets such as helping needy people can be considered as a constitutional violation if the MPs visit a minister at his office but exploiting the parliamentary seats by MPs to achieve personal benefits for himself, wife or sons can be considered as betrayal and an ethical crime. Therefore, MPs have to respect themselves and their reputation.

If the MPs don`t abide by that then the people have the right to visit him at any time and ask him to resign. He also has to apologize to all people and voters. We hope the people do not defend such MPs; on the contrary they have to expose them before the public.

The worst MPs are those who commit such violations and are the ones who have long beards to deceive people.

They just want to look like pious persons and gain respect from people. On the other hand, we would like to know about the members of the Kuwaiti delegation who visited Iraq and asked Iraq to join the Gulf Cooperation Council.

We also want them to just explain why they did such a matter and whether they released this call to strengthen the security and stability of Kuwait or just to find new outlets for their trade!

many others as those organizations claim to be defending human rights but they did not endorse any effective stance against the barbaric massacres that the Syrian regime commits every day. When a man attacks the security authorities in Bahrain then authorities defend themselves and kill him by mistake then all those organizations start condemning and criticizing the Kingdom!

The very organizations remain silent about the Syrian suffering although they can see tens of people killed every day in Syria and they are sure that killing is still going on.

The organizations also know that the Syrian regime kills just for the sake of killing because it kills civilians every day just to maintain power. The human rights organizations watch the massacres and how people are killed in Syria by the barbaric regime of Bashar Al-Assad just because the Syrian civilians call for their rights of freedom and dignity.

The barbaric Syrian regime has killed from the beginning of the Syrian revolutionone year ago- till now more than 12,000 people and jailed hundreds of thousands of innocent people. The brutal practices of the Syrian regime also led to losing 620,000 people wherein nobody knows about the fate of these people. Such brutal practices occur in Syria and the human rights organizations know that well but they did not feel shame due to their disgusting stances. The so called human rights organizations should denounce the brutal practices of the Syrian regime and it should warn the International Community against the dangerous policy of the regime which depends on the scorched earth policy. Apparently, the current Syrian regime is ready to kill all people just to maintain its dangerous chair.

The human rights organizations lost credibility due to remaining silent about the massacres that the Syrian regime commits.

Although such crimes should be considered as crimes against humanity. So, we cannot trust such organizations anymore!

The recent statement of the Iranian embassy official Rouhalah Qahramani announced that the three Emirati islands as part of the Persian State and he criticized naming the three islands as “the Emirati islands”.

Such a silly statement reminds us of the statement of the Iraqi embassy in Kuwait before the Iraqi invasions wherein the embassy was commenting on certain issues which were published by the local media sources saying that such news should not be published. Such news can be published!

That interference in the internal affairs of Kuwait was to pave the way for the Iraqi invasion later on.

Such statements should be countered with serious steps including expelling the Iranian ambassador and suspending all diplomatic ties with Iran for good!

We hereby announce the postponement of our interpellation for one week so that our paperwork is processed.

After a week

After a week

th at G i ve n pa s s e d , eek fe r ra l one w ce the de r nou n i ng fo we a n f t h e g r i l l e ek s o o nd w n a se c o c ro n i e s c a to ur t h at o a p po i n t e d g be l ea d i n io n s. po s i t

What do you think?

We postponed all the interpellations.

Just finalize what ask you to do.

We postpone the interpellation until the tender is offered

Mohmmed Thallab

mthallab@alwatan.com.kw

How to calm your angry wife down Fuad Al-Hashem

T

he bearded figures reached the Egyptian parliament and we became used to hearing in the last stage queer suggestions and projects. The Salafi MP Al-Haj Ahmad has submitted a draft law to endorse the Fatwa which was released by the Moroccan cleric and MP Abdulbarri Al-Zamzami. The cleric is a member of Nahda Party. The fatwa revolves around the issue of religious opinions fatwas about matters that did not occur during the era of the Prophet Peace Be Upon Him, or his companions or the era of the four Caliphates such as credit cards, communication means, organ transplants, blood donations and lips inflation.

If your wife is very nervous and angry and shouting at you just say to her “honey you got thin! How much weight did you lose? The ner-

We hope the police chief of Abu Dhabi and the other Emirates to do the same to make sure that political and security circumstances are stable in the other areas of the United Arab Emirates! vous wife will calm down immediately, then she will smile saying “are you serious love?”

So, you can change the mood of your wife simply.

According to Al-Ajairi Calendar, the cabinet approved establishing Al-Sabah Hospital on April 27th, 1955. That cabinet was headed

by Sheikh Fahad Al-Salem Al-Sabah. The question is, ‘when will our cabinet approve establishing Jaber hospital’!

The political and security circumstances in Dubai are very stable as the Chief of Police Lt General Dhahi Khalfan has nothing to do except twittering. He writes about everything and gives his opinion about everything as well!

We hope the police chief of Abu Dhabi and the other Emirates to do the same to make sure that political and security circumstances are stable in the other areas of the United Arab Emirates!

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views

monDAY, april 30, 2012

Ideas over interests Dani Rodrik

Project Syndicate

T

he most widely held theory of politics is also the simplest: the powerful get what they want. Financial regulation is driven by the interests of banks, health policy by the interests of insurance companies, and tax policy by the interests of the rich. Those who can influence government the most - through their control of resources, information, access, or sheer threat of violence - eventually get their way.

It’s the same globally. Foreign policy is determined, it is said, first and foremost by national interests - not affinities with other nations or concern for the global community.

International agreements are impossible unless they are aligned with the interests of the United States and, increasingly, other rising major powers. In authoritarian regimes, policies are the direct expression of the interests of the ruler and his cronies.

It is a compelling narrative, one with which we can readily explain how politics so often generates perverse outcomes. Whether in democracies, dictatorships, or in the international arena, those outcomes reflect the ability of narrow, special interests to achieve results that harm the majority.

Yet this explanation is far from complete, and often misleading. Interests are not fixed or predetermined.They are themselves shaped by ideas - beliefs about who we are, what we are trying to achieve, and how the world works.

Our perceptions of self-interest are always filtered through the lens of ideas.

Consider a struggling firm that is trying to improve its competitive position. One strategy is to lay off some workers and outsource production to cheaper locations in Asia. Alternatively, the firm can invest in skills training and build a more productive workforce with greater loyalty and hence lower turnover costs. It can compete on price or on quality.

The mere fact that the firm’s owners are self-interested tells us little about which of these strategies will be followed. What ultimately determines the firm’s choice is a whole series of subjective evaluations of the likelihood of different scenarios, alongside a calculation of their costs and benefits.

Similarly, imagine that you are a despotic ruler in a poor country. What is the best way to maintain your power and pre-empt domestic and foreign threats? Do you build a strong, export-oriented economy? Or do you

Protesters hold banners outside Myanmar’s Embassy during a rally to demand the release of political prisoners and further moves toward democracy in Myanmar, in Tokyo, Monday, April 23, 2012. (AP)

The fact that we debate such questions passionately suggests that we all have varying conceptions of where self-interest lies. turn inward and reward your military friends and other cronies, at the expense of almost everyone else? Authoritarian rulers in East Asia embraced the first strategy; their counterparts in the Middle East opted for the second. They had different conceptions of where

Investing in the wretched

their interest lay. Or consider China’s role in the global economy. As the People’s Republic becomes a major power, its leaders will have to decide what kind of international system they want. Perhaps they will choose to build on and strengthen the existing multilateral re-

gime, which has served them well in the past.

But perhaps they will prefer bilateral, ad hoc relations that allow them to extract greater advantage in their transactions with individual countries.We cannot predict the shape that the world economy will take just from observing

7

that China and its interests will loom larger.

We could multiply such examples endlessly. Are German Chancellor Angela Merkel’s domestic political fortunes best served by stuffing austerity down Greece’s throat, at the cost of another debt restructuring down the line, or by easing up on its conditions, which might give Greece a chance to grow out of its debt burden? Are US interests at the World Bank best served by directly nominating an American, or by cooperating with other countries to select the most suitable candidate, American or not?

The fact that we debate such questions passionately suggests that we all have varying conceptions of where self-interest lies. Our interests are in fact hostage to our ideas.

So, where do those ideas come from? Policymakers, like all of us, are slaves to fashion.

Their perspectives on what is feasible and desirable are shaped by the zeitgeist, the “ideas in the air.” This means that economists and other thought leaders can exert much influence - for good or ill.

John Maynard Keynes once famously said that “even the most practical man of affairs is usually in the thrall of the ideas of some longdead economist.” He probably didn’t put it nearly strongly enough. The ideas that have produced, for example, the unbridled liberalization and financial excess of the last few decades have emanated from economists who are (for the most part) very much alive.

In the aftermath of the financial crisis, it became fashionable for economists to decry the power of big banks. It is because politicians are in the pockets of financial interests, they said, that the regulatory environment allowed those interests to reap huge rewards at great social expense. But this argument conveniently overlooks the legitimizing role played by economists themselves. It was economists and their ideas that made it respectable for policymakers and regulators to believe that what is good for Wall Street is good for Main Street.

Economists love theories that place organized special interests at the root of all political evil. In the real world, they cannot wriggle so easily out of responsibility for the bad ideas that they have so often spawned. With influence must come accountability.

Dani Rodrik, Professor of International Political Economy at Harvard University, is the author of The Globalization Paradox: Democracy and the Future of the World Economy.

The World Bank’s Wrong Choice

All of this demonstrates that investing, in many ways, is like trying to play three-dimensional chess.

James Saft Reuters

A

t a time when one super-stock, Apple, is driving returns and portfolio construction, it is important to remember that there is usually more to be gained from the widely derided than from the universally loved.

Choosing stocks like Apple, which makes great products and has the glow of success about it, is an easy and comfortable choice. Investors feel they are affiliating with something successful, and they get that blast of pleasurable chemicals to the brain every time they see a positive story in the press or a surge in share price.

That success comes with a price tag. A review of the literature shows that portfolios with stocks in widely admired companies usually underperform baskets of stocks with companies nobody much likes.

A 2010 study by Meir Statman, a professor at Santa Clara University, and Deniz Anginer, a World Bank economist, found sustained outperformance from what they called ‘spurned’ companies.

The study used the annual survey of analysts and executives, conducted by Fortune Magazine, of the most and least admired US companies as a benchmark. They found that over a 24-year period you’d actually be better off holding stocks of the least admired companies.

“We studied Fortune Magazine’s annual list of ‘America’s Most Admired Companies’ to find that stocks of admired companies had lower returns, on average, than stocks of spurned companies over the period April 1983-December 2007. Moreover, we find that increases in admiration were followed, on average, by lower returns,” Anginer and Statman wrote in the study, published in The Journal of Portfolio Management.

Think about it: not only are you better off with, for lack of a more polite term, dog stocks, you had better monitor your portfolio for companies which are becoming admired with an eye to perhaps lightening your exposure.

The annualized return between April 1982 and December 2007 of the un-loved portfolio was 18.34 percent, easily beating the admired stocks’ return of 16.27 percent.

That sort of performance difference, over that sustained a period, is very significant; to be able to generate it simply by buying

what others don’t love is amazing.

The question you have to ask yourself: do you want to make money or do you want to feel good? Owning highly regarded stocks is a way for people to affiliate with success, just as people buy more Yankees caps when they are in first place. People like success and tend to be overly simplistic about it, feeling that it is a hard-wired trait rather than the result of the interplay between hard work, opportunity and - crucially for investors - valuation.

Statman did further work in 2011 and concluded that the difference in performance between hot and not-hot stocks was not, as many assert, tied to company characteristics - such as market capitalization or market-to-book ratios - but rather to the fact that positive sentiment by investors who then make unrealistic assumptions about future returns and risks.

Human beings love to take the immediate past and then discount it into the indefinite future, assuming that a track record can in some way be a guarantee - irrespective of what price you pay for that record. Investors pay for that magic glow of success, and they usually pay dearly.

None of this is to say that people are wrong about which companies are excellent; they often are right. The problem is that they get carried away in what they are willing to pay to affiliate with excellence.

One important note of caution: returns were highly dispersed, meaning that quite a few of the unloved companies were disliked for a very good reason. They were on the way down the drain. Since it can be extremely difficult to glean the winners from the losers, the best response is probably to be widely diversified within the category.

All of this demonstrates that investing, in many ways, is like trying to play threedimensional chess. You have to do more than simply understand the reality of the marketplace - who has a good product, how demand will develop, how input costs may grow.

You can do all of the securities and company analysis you want, but if you simply make your decisions on that evidence you ignore the source of perhaps your biggest risk and opportunity: the other investors who set valuations.

Other investors are going to do any number of things - fall in love with Apple, fall out of love with financials - that set the price at which you can buy exposure to those companies and industries.

James Saft is a Reuters columnist. The opinions expressed are his own.

FILE- Peru’s President Ollanta Humala, left, shakes hands with Physician Jim Yong Kim at government palace in Lima, Peru, Monday, April 16, 2012. (AP) Jagdish Bhagwati Project Syndicate

T

he selection of the American nominee Jim Yong Kim as President of the World Bank, over Nigeria’s finance minister, Ngozi Okonjo-Iweala, who was overwhelmingly regarded as a vastly superior candidate, is impossible to condone but easy to explain.

It also points to serious dangers for the unfinished task of development.

The selection process suffered from several inequities and non-transparent features that undermined the United States’ claim to the contrary. Indeed, those claims were of a piece with the linguistic obfuscations that dominate American public debate: just as carpet bombing was called “pacification” during the Vietnam War, today illegal immigrants are called “undocumented aliens.”

Thus, the rollout of the American propaganda machine for Kim, who traveled to many capitals worldwide with US Treasury support and promises of American largesse, surely biased the vote against Okonjo-Iweala.

And, after all, the World Bank is a donor institution. So potential borrowers like India and Mexico, which should have voted for OkonjoIweala, acted prudently and voted for Kim instead. Her human capital was no match for his financial capital.

In a genuinely open, merit-based contest, the 25-member Executive Board’s deliberations should have been preceded by debates between the candidates. I suspect that Okon-

jo-Iweala, with her enormous competence and renowned wit, would have gotten the better of Kim. The world would also have seen why so many of us were rooting for her.

Again, the worldwide influence of the powerful liberal media in the US should not be underestimated. While The Economist backed Okonjo-Iweala, The New York Times endorsed Kim. This is an election year in the US: if President Barack Obama had nominated a lamppost, America’s “newspaper of record” would have found it to be possessed of excellent credentials.

Moreover, just as Ralph Nader’s candidacy and the US Supreme Court prevented Al Gore from defeating George W. Bush in 2000, one must recognize that Okonjo-Iweala was undercut by the candidacy of José Antonio Ocampo, a former finance minister of Colombia, who was backed by Brazil. His candidacy made Okonjo-Iweala look like a regional “African candidate,” while Ocampo was the “Latin American” candidate.

Brazil should have worked with India, Mexico, and South Africa instead, to produce unified support for Okonjo-Iweala. When Brazil did move in that direction, it was too late to make any difference.

And now one cannot suppress the thought that Kim’s election could turn into a disaster for the cause of development. His tirade in 2000 against the liberal reforms that have transformed countries like India and China into global growth engines, reduced poverty, and benefited marginalized groups shows that

he lacked good judgment on fundamental issues. No one recalls any expression of regret by him, which suggests that he persists in such folly - and would use conditionality to turn the clock back on decades of progress in development economics.

But my fear is that Kim would be a disaster even on health-care issues - an area where he has rightly earned credit for his work on AIDS, malaria, and tuberculosis. Thanks to the economic growth that resulted from the reforms that he denounced, countries like India and Brazil now have higher revenues to spend on health care for the poor, among other public goods. As a result, the publichealth questions that Kim will face at the World Bank are very different from the “big” diseases with which he dealt in the past. India, for example, is struggling with the balance between public and private provisions of medical care for routine health problems, and with questions of medical training and availability (that is, should India have “barefoot doctors,” or aim for only fully qualified practitioners?).

Can Kim lead on these and other issues that are beyond his experience? Foreboding is in order.

Jagdish Bhagwati is Professor of Economics and Law at Columbia University and Senior Fellow in International Economics at the Council on Foreign Relations, and in October will publish (with Arvind Panagariya) a book on India’s reforms.

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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

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Birthdays and weddings

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02-04/02-05

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Events planner

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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.

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Tel: 60091481

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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,

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Website designer and management

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Baraka: Tel: 99881053

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Abu Dhabi’s Sorouh Q1 net profit up 30%

BUSINESS

mondAY, april 30, 2012

mar ket watc h KUWAIT

DUBAI

0.01% 6337

0.8% 1639

ABU DHABI: Abu Dhabi’s Sorouh Real Estate , which is in merger talks with larger rival Aldar Properties, posted a 30 percent rise in quarterly profits on Sunday, adding to a string of higher earnings from United Arab emirates (UAE) property firms in recent days. Sorouh, the second largest property developer by market value in Abu Dhabi, reported first-quarter net profit of 83.6 million UAE dirhams (22.76 million US dollars), compared with 64.3 million dirhams in the prioryear period See page 10

OIL M A RKE TS

QATAR

OMAN

ABU DHABI

BAHRAIN

0.3% 8688

0.5% 5871

0.2% 2512

0.3% 1149

EGYPT

SAUDI

0.3% 4921

0.7% 7556

US Crude $104.81 $0.12 London Brent $119.83 $0.09 Kuwait Crude $116.29 $0.15 Information Courtesy: KAMCO

CURRE NCIE S US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2774 Sell 0.2775 Buy 0.3676 Sell 0.3679

Commercial Bank announces 2011 profits before provision at KD 101.2 million

Buy 0.4512 Sell 0.4515

Buy 0.003454 Sell 0.003459

Buy 0.074 Sell 0.074

Buy 0.07552 Sell 0.07557

Buy 0.07623 Sell 0.07617 Buy 0.7358 Sell 0.73611

Buy 0.005291 Sell 0.005287 Buy 0.006576 Sell 0.006558

Prices in Kuwaiti fils as of April 29, 2012 Courtesy: KAMCO

BUSINESS MATTERS

One number can put you out of business fast!

Nancy Oteifa Staff Writer

KUWAIT: The Commercial Bank of Kuwait at their Ordinary General Meeting held Sunday announced the bank’s profit before provision at 101.2 million Kuwaiti dinars and after provision against the loan and investment portfolios, the net profit attributable to shareholders of the parent bank was KD 0.810 million with an earnings per share (EPS) of 0.6 Kuwaiti fils. Total assets stood at were KD 3.7 billion and total shareholders fund totaled KD 530.5 million at the end of 2011.

During the general meeting Ali Al-Awadhi, Chairman of the Commercial Bank of Kuwait noted, “The bank has a strong capital base with a capital adequacy ratio of 18.58 percent which comfortably exceeds the minimum 12 percent requirement of the Central Bank of Kuwait.”

He added, “Performance indicators show a return to profitable growth with operating profit before provisions up eight percent on last year, net interest income up to four percent and non-interest income six percent.

Reduced operating expenses maintain the bank’s low cost structure and continue to underpin financial performance. Strengthening its financial position the bank has continued its prudent policy towards building up a strong provision base and reducing the percentage of nonperforming loans.”

During the general meeting the board members approved the Board of Director’s report for the fiscal year which ended Dec. 31, 2011.

They also agreed to hear and approve the Auditor’s report for the fiscal year ended Dec. 31, 2011.

They discussed and approved the balance sheet and the profit and loss account for the fiscal year which ended Dec. 31, 2011.

They also approved to permit the bank to grant loans and advances to its Board Members during the fiscal year 2012, in accordance with the rules applicable by the Bank in respect of granting loans and advances to customers.

During the general meeting they also approved conducting transactions with related parties.

They approved the authorization given to the

Warba Bank finances $20 million property deal Project provides returns of 12% per annum

KUWAIT: Warba Bank has concluded a financing deal to purchase a 20 million US dollar property and develop it into a multi-family residential complex by Criterion Group LLC based in New York. Hosam Nasser Al-Muzaiel, Warba Bank Investment Manager said that the total financing is approximately $20 million and the bank expects generating a 12 percent annual return.

He added the financing deal is expected to last for 30 months.

The financing is the first Sharia compliant financing transaction that is recognized as a building loan contract by the New York statute; this effectively means that the mortgage is superior to the subcontractor liens as well and thereby provides utmost level of security to the financier.

Commenting on the project, Hosam Nasser Al-Muzaiel Investment Manager, Warba Bank, said: “We are enthusiastically pleased with the conclusion of this significant deal which accentuates the competencies of Warba’s Investment Team in concluding important deals with companies and institutions, locally, regionally or internationally.

The conclusion of the first Sharia-compliant deal for construction financing purposes in the USA marks extraordinary step towards the development of Warba Bank and towards continued growth of Islamic finance.”

Moreover, he said, “Warba Bank is going forward with its plans that aim at taking advantage of unique investment opportunities, based on its strong fundamentals and extensive networking in the US market. The deal demonstrates the bank’s expertise to originate, execute and manage innovative Sharia-compliant investments that would deliver solid returns in the short and medium terms.”

It is worth mentioning that Warba Bank provides a remarkable opportunity for investors and depositors to secure exposure to and participate in innovative asset classes, well diversified and with best in-class returns generated through superior quality projects.

-Agencies

Dr. John P. Hayes Exclusive to Al Watan Daily

KUWAIT: Three Dog Night, once the most popular band in America, told us that “One is the loneliest number.” But in business, it may be the most dangerous number. It’s one number that can put you out of business fast!

Fact: You have one supplier for a product or service that’s critical to your customers. If something happens to that supplier, what happens to your business? Will your customers wait until you find another supplier?

Fact: You have one piece of equipment. It breaks down.

What now? Your customers won’t mind that you can’t help them today, and maybe not for a month?

Fact: You have one contact who can send more business your way whenever you need it. He falls out of grace and gets replaced. What now?

Fact: You have one star sales person. She gets a better job.

What now?

Fact: The one politician you backed just lost re-election.

What now?

Fact: Your one employee in Accounting knows who owes you money. He just got run over by a bus. What now?

How many ones you got?

An Afghan traditional blacksmith uses his hammer at his workshop in the old city of Kabul on April 29, 2012. Poverty and an ongoing insurgency by the ousted Taliban still pose a threat to the economic stability of the country. (AFP)

Board of Directors to purchase or sell the Bank’s Own shares in accordance with the percentage terms and controls stipulated and permissible by the law and the ministerial resolution and pursuant to the Central Bank of Kuwait’s instructions in this regard where this authorization shall remain valid over a period of 18 months effective from its issuance date.

They also approved to authorize the Board of Directors to issue Bonds in Kuwaiti dinar or in any other currency deemed appropriate for an amount not ex-

ceeding authorities.

They approved to discharge the Directors from any responsibility under their legal actions for the fiscal year which ended Dec. 31, 2011. Furthermore, they appointed or re-appointed the Auditors for the year 2012 and to authorize the Board of Directors to designate their fees for the coming fiscal year.

They accepted the resignation of the Bank’s Board Members and finally they elected a new Board of Director for the upcoming terms from 2012 till 2014.

KPC signs two oil contracts with India’s Bharat Petroleum KUWAIT: Kuwait Petroleum Corporation (KPC) hammered out Sunday two contracts with India’s Bharat Petroleum Corporation to supply it with 68,000 oil barrels per day.

In statements to Kuwait News Agency (KUNA), Managing Director of KPC International Market Sector Nasser Al-Mudhaf said that KPC has succeeded in renewing the contract of supplying Bharat Petroleum with 46,000 barrels of oil per day and signing a new contract to supply Bharat-Oman Refinery with 22,000 bpd. Al-Mudhaf noted that KPC won the second contract after fierce competition with major international rivals. He described the deal as a clear indication of the success

of KPC to strengthen its presence on the promising markets such as India. India is one of Kuwait’s key markets and KPC strives to increase the volume of Kuwaiti oil exports in line with the strategic plan of International marketing Sector.

Mudhaf underlined that the signing of the two contracts shows the strategic partnership between Kuwait and India, the world’s second largest importers of Kuwait oil. The KPC official disclosed that there are negotiations with India to supply it with Kuwaiti liquefied natural gas, expecting a deal in this regard is expected to be signed in the coming next months.

-KUNA

AAOIFI in wide review of Islamic finance standards

DUBAI: Islamic finance may face its biggest shake-up in years as a top standard-setting body seeks to reform the way the industry does business, including the role of highly paid scholars in enforcing religious principles. Khaled Al-Fakih, the new secretary-general of the Bahrain-based Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), outlined plans for a sweeping review of its guidelines in an interview with Reuters. Some of AAOIFI’s reforms may prove controversial by challenging entrenched interests in the fast-growing business. Islamic financial assets hit 1.3 trillion US dollars globally last year, a 150 percent rise in the past five years as the industry expanded beyond core markets in the Middle East and Malaysia, financial lobby group TheCityUK estimates. “We would like to see insightful debate...that can help us develop standards that can benefit the industry,” Fakih said by email from Bahrain, ahead of AAOIFI’s annual meeting there on May 7 and 8.

His organization plans to start consultations on reforming the operations of Sharia boards, the groups of Islamic scholars which rule on whether financial institutions’ activities and products are religiously acceptable, by the middle of this year. A final draft of the reforms is not expected to be ready before the end of next year at the earliest. AAOIFI will also work on a new framework for disclosing financial data, and will look at revising standards for Takaful (Islamic insurance), investment accounts and other products. Fakih, a Lebanese-born commercial banker who took over at AAOIFI in February, said basic elements of Islamic finance such as Murabaha, Mudaraba and Ijara - structures designed to permit investment while obeying religious bans on paying interest and pure monetary speculation - would be reviewed next year.

Controversy

For many in the industry, AAOIFI’s review cannot come too soon. Although far smaller than conventional banking, which

has tens of trillions of dollars of assets, Islamic finance has grown much more quickly in the last few years, so its flaws could start to affect banking systems and economies.

Much of its growth has occurred because it can count on the support of large pools of Sharia-compliant funds in the booming Gulf and southeast Asia, which have not pulled back during the global financial crisis as Western funds have. Last year’s Arab Spring uprisings in the Middle East promise a fresh wave of growth; new, Islamist-led governments want to promote the industry after their authoritarian predecessors discouraged it for ideological reasons.

But the growth has exposed weaknesses in Islamic finance.

One is the lack of a clear consensus on what products and procedures are permissible; the Sharia boards of individual banks and investment firms can issue conflicting rulings. This can create big controversies. When Goldman Sachs announced last October that it planned a two billion dollars Sukuk issue, which would make it one of the first top Western banks to raise money in that way, its own Sharia advisors approved the plan. But some other scholars criticized it, six months later, the Sukuk has not been issued and it is not clear when it might be. The Sharia board system is open to accusations of conflict of interest because scholars are paid handsomely - in some cases, with hourly fees of $1,000 or more - by the very firms whose behavior they are supervising.

The ambiguity in regulation has let some Islamic financial institutions, such as Kuwait’s Investment Dar, argue in court that contracts into which they had entered were not valid because they were not Sharia-compliant in the first place.

AAOIFI plans to improve the operations of Sharia boards by strengthening the certification process for scholars, Al-Fakih said. The organization currently offers scholars two professional credentials, but they have been criticized as not sufficiently rigorous and too easy to obtain. -Reuters

You get the idea.

One of anything in business is almost always a wreck waiting to happen. Start looking for the ones that exist in your business now. And just in case you’re thinking that two is better, remember that Three Dog Night also told us, “Two can be as bad as one.”

How many systems you got?

It’s often said that people are a business’s greatest asset.

Sounds good, doesn’t it? But most employees don’t believe it. And with good reason, especially if they’re not paid well or treated well. The truth is, people come a little lower on the valuation scale. Product, service, location may all out-score the importance of employees. So do systems.

How many systems operate your business?

Systems (not people) make businesses work efficiently, effectively, and happily. The most valuable businesses are operated by a series of systems that people follow. There are systems for operations, marketing, sales, training, customer relationships, etc. Each system may be propelled by several more systems. In Operations, for example, there may be systems for HR, IT, Finance, etc.

Systemization is one of the reasons why franchised businesses are successful. You may not own a franchised business, or care to, but you’d be extremely happy if your business ran like a well-oiled franchise operation. Who wouldn’t want a business like McDonald’s or Starbucks or Holiday Inn or Sign-A-Rama? These businesses never stop generating revenue for their owners, and that’s without the owners ever stepping foot into most of the locations.

How does that happen?

Systems.

Systems that tell people what to do, when to do it, and how to do it. And that includes what to do if the boss doesn’t show up. After all, there’s only one of you, too!

How can you improve your business? Dr. John Hayes will help you discover points of opportunity. Free analysis for qualifying businesses. Send a paragraph describing your business; selected businesses may be featured in Business Matters. Dr. Hayes has worked with an impressive international list of independent and franchised businesses. He is a professor in the College of Business at GUST. Contact him at questions@hayesworldwide.com, or via Twitter @drjohnhayes.

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

KSE ends day trading in red KUWAIT: Trading ended at Kuwait Stock Exchange (KES) Sunday on a mixed board, though main indices were red. The price index dropped 0.5 points to reach 6,336.5 points, while the weighted index came to 416.03 points a drop of 1.84 points.

Trades came to 5,874 spot transactions worth 42,630,050 Kuwaiti dinars, with 612,150,000 shares changing hands till end of session. As for sector indices, there were three readings in green and five in red. Top gainer sector was real estate which put on 15.8 index points, while biggest loser was banking on a down of 26.2 index points.

Top share for the day was that of Al-Dar National Real Estate Company, while biggest loser was Warba Insurance Company stock. Top-volume share was that of Manazel Holding Company. Trading began at Kuwait Stock Exchange (KSE) on Sunday with hesitant indices and mixed boards, with the price index coming to 6,344.7 points on a gain of 7.7 points and the weighted index to 417.18 on a drop of 0.69 points by 9:35 a.m. Trades came to 1,626 transactions, worth KD 12,298,810, with 175,840,000 shares changing hands.As for sector indices, it was a mixed scene with four green readings, three red, and one sector showing no change since last closing. -KUNA

10

ALWATAN DAILY

BUSINESS

monDAY, april 30, 2012

Abu Dhabi’s Sorouh Q1 net profit up 30% ABU DHABI: Abu Dhabi’s Sorouh Real Estate, which is in merger talks with larger rival Aldar Properties, posted a 30 percent rise in quarterly profits on Sunday, adding to a string of higher earnings from United Arab emirates (UAE) property firms in recent days.

Sorouh, the second largest property developer by market value in Abu Dhabi, reported first-quarter net profit of 83.6 million UAE dirhams (22.76 million US dollars), compared with 64.3 million dirhams in the prior-year period The results missed four analysts’ forecasts for average profit of 87.83 million dirhams, according to a Reuters poll.

Sorouh shares were up 0.88 percent on the Abu Dhabi bourse at 0824 GMT. Quarterly revenue doubled to 967.2 million dirhams, with revenue from national housing projects generating 62 million dirhams in gross profit for the quarter. The developer said it was on track to reach its target of 500 million dirhams of recurring income by 2014.

“We spent 650 million dirhams on work-in-progress in the first quarter and capex for 2012 remains the same,” Chief Financial Officer Richard Amos said on a conference call.

“Our cash position is robust, we have no plans to raise finance.”

Sorouh has previously said it plans 1.8 billion dirhams in 2012 capital expenditure.The firm’s cash balance at the end of the first quarter was 1.5 billion dirhams.

Sorouh, which entered into merger talks with Abu Dhabi’s largest developer Aldar last month, said the talks are underway, but did not give any further details.

“The evaluation process to look at the legal and business aspects of a potential merger is now underway and the ultimate outcome of this process will take into ac-

FILE - A view of the skyline is seen from the water in Abu Dhabi in this undated file photo. Abu Dhabi’s Sorouh Real Estate, which is in merger talks with larger rival Aldar Properties, posted a 30 percent rise in quarterly profits on Sunday, April 29, 2012. (AP)

count the best interests of shareholders,” the company said.

On Saturday, Aldar reported it had more than doubled its first-quarter net profit on land and residential sales to the government. Meanwhile, Dubai-based Emaar Properties said net profit rose 44 percent, beating analysts’ forecasts.

Sorouh, whose developments include commercial and residential projects, will deliver around 9,300 units by end 2013, Gurjit Singh, its chief operating officer, said

on Sunday. This includes 2,300 units under the national housing program.

Abu Dhabi-based property firms have relied heavily on government projects to rescue them from a property market slump in the emirate.

Property prices in Abu Dhabi are expected to fall another 11 percent from here, a Reuters poll showed in January. Sorouh shares were up 0.9 percent on the Abu Dhabi bourse at 0755 GMT Sunday. They have risen 31 percent year-to-date. -Reuters

BFX crosses major milestone, total trading turnover reaches $1 billion MANAMA: The Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (MENA) region, announced in a press release on Sunday achieving a key milestone with the cumulative (singleside) trading turnover value crossing the one billion US dollar mark on the April 24, 2012, with the total trading volume increasing to 24,046 contracts.

The highest (single-side) daily trading turnover was $58.27 million, with a trading volume of 1,189 contracts achieved on the April 23, 2012. The cumulative trading turnover of the BFX Futures reached the first $500 million milestone in 92 trading days; whereas, the next $500 million was achieved in the subsequent 16 trading days. This indicates the growth in the momentum of the trading activity, largely due to the narrow bid-ask spread and higher liquidity.

Commenting on the occasion, Arshad Khan, Managing Director and Chief Executive Officer (CEO) of the BFX and the BFX Clearing and Depository Corporation (BCDC), said, “We are proud to exceed the one billion dollar total trading turnover volume mark. Witnessing such a remarkable growth represents a concrete proof for the effectiveness of our offerings across all the products. Moreover, we see this milestone as a direct result of our extensive business development initiatives cross all the MENA (Middle East and North Africa (MENA) markets, and our ability to play a key role in di-

recting the region towards a leading position in the fast growing financial markets.

While continuing to grow our business, we will persist on drawing the world’s attention to our market via our unique and fully automated trading platform offering multi-asset financial instruments across conventional and Islamic finance product portfolio.”

The trading turnover for the period between April 1 and April 24, 2012 was $523.44 million, an 11 times increase over the corresponding period in Dec 2011. During the same period, the trading volume has increased around 10 times, from 1,170 contracts to 11,150

contracts. Remarkably, the total trading turnover in April 2012 (till April24) was more than the total trading turnover from the launch date of the Nov. 23 2011 to the March 31, 2012.

Since its launch date, the BFX Gold Futures contract has traded over 11.96 metric tons (384,672 troy ounces), with a trading turnover of $640.47 million (12,021 contracts). Trading on the BFX Gold Futures has increased by 13.38 times for the period between the 1st and 24th of April 2012, as compared to the corresponding period in Dec 2011. The total cumulative trading turnover on the BFX Euro Futures reached $263.23 mil-

lion (8,003 contracts). Over 4,340,000 million British thermal units (mmBtu) of the BFX Natural Gas Futures (trading turnover of $10.87 million; volume of 1,736 contracts) have been traded.

The cumulative trading turnover on the BFX Indian Rupee Index Futures - a unique and innovative product - has already reached $116.69 million (volume of 2,286 contracts) in a mere 31 trading days. The BFX Gold Futures contributed to over 62.11 percent of the total cumulative trading turnover and 49.99 percent of the total trading volume. The next most popular product was the BFX Euro Futures accounted for 25.53 percent of the total trading turnover and 33.28 percent of the trading volume.

The Open Interest in the BFX INR Futures Index April 2012 Futures reached 168 contracts on 26th April 2012 (contract maturity date), a 25.37 percent increase over the highest Open Interest in the March 2012 Futures (134 contracts on March 21, 2012). The open interest across all the BFX Futures peaked at 208 contracts on April 24, 2012.

The BFX is scheduled to launch other innovative products in the next months across various asset classes and instrument types. There has been an increase in interest from the international financial institutions for taking the BFX membership, particularly due to the attractiveness of the business-friendly environment of the Kingdom of Bahrain and the uniqueness of the BFX market.

South Korea makes 3rd bid to sell largest banking group

CAPITALS: South Korea said it is putting its six trillion South Korean won (5.3 billion US dollar) majority stake in the nation’s biggest financial group up for sale, its third attempt to privatize Woori Finance Holdings. The Financial Services Commission (FSC) cited a better financial environment to attract bidders for its 57 percent stake after sale attempts in 2010 and 2011 failed for lack of interest.

The government will issue the sale notice Monday and accept initial bids by July 27. It will choose a preferred bidder after accepting final bids later this year, the commission said in a statement. Potential buyers must bid for at least 30 percent of Woori. The government’s stake is held by the Public Fund Oversight Committee, which oversees companies bailed out by the state. The government this time stressed that a merger is also a strategic option. “Overall conditions to sell Woori are improving. Recent revision of the related law enables a wider range of merger strategies for potential strategic investors,” the commission said.

Growing competition among local financial holding firms would likely lead to increased interest in Woori, it added.

A local media report has said the cash-rich KB Financial Group seems the likeliest candidate if Woori is to be merged.

Such a move would fit the government’s strategy of creating a megabank to compete globally. But KB Financial chairman Euh Yoon-Dae played down such a possibility last week, saying his group could not afford to buy Woori. Privatisation is a signature policy of President Lee Myung-Bak’s conservative administration, which ends its term next February.

The government injected 12.8 trillion won of public money into the banking group in the aftermath of the 199798 East Asian financial crisis. It first cut its stake in Woori Finance to 88.2 percent after selling a combined 11.8 percent interest in an initial public offering. It has since further cut its stake through block sales, retrieving a total 5.6 trillion won.

The FSC said it was hopeful of success at the third attempt.

“I do see the success chances,” its chairman Kim SeokDong told reporters. “This is a mega deal you won’t see in Korea in coming years.” Woori Finance had 312.8 trillion won in assets as of end-2011. -AFP

KUWAIT: Zain, the leading telecommunication company in Kuwait, honored a host of credit and collection companieswhich the organization has partnered with. The award is given in recognition of the companies’ efforts to increase the collection rate for the first quarter (Q1) of 2012. This was mentioned in a press release on Sunday. During the award ceremony hosted by Zain at the Crowne Plaza, the Executive Director of Customer Care, Ahmad Al-Kandari, gave plaques to the top three companies: Synergy International Collection and Consulting Company and MME Trading Co and LegalCenter and the Office of Al-Twaijri& Partners Law Firm. In his speech on the occasion, Al-Kandari expressed Zain’s appreciation for the companies’ efforts. “We are delighted to honor our partners for their dedication in the credit control services related to the collection of debts owed to our organization. Their commitment and excellent collection rate yielded positive results,” he said. Stressing that the honoring ceremony aims to further foster the company’s relationship with its partners, Al-Kandari said that all stakeholders collaborating with Zain have been instrumental in the success of the company. Al-Kandari added, “Undoubtedly, the efforts of the collection companies which are grounded on dialogue with our customers have contributed to the recovery of a large number of debts for our company.”

Al-Kandari said that Zain is glad to honor organizations which contribute to the organization’s success. “The role of cash collection flow is important. It complements Zain’s continuous dedication to enhancing the quality of services delivered to our customers.”

In search of an S&P upgrade, India shocked!

NEW DELHI: Standard & Poor’s (S&P) credit analyst Takahira Ogawa listened politely as officials at the finance ministry made an hour-long pitch for a ratings upgrade, citing economic growth prospects, revenues and their efforts to contain the government’s fiscal deficit.

At the meeting two weeks ago, officials argued that tax returns were rising and debt levels were on the decline compared to gross domestic product, two officials who were at the meeting told Reuters.

Singapore-based Ogawa gave no sign of what he was thinking - and could not immediately be reached for his version of events - but evidently he left unconvinced.

On Wednesday, the ratings agency cut its outlook on India’s BBB- rating to negative from stable and warned it had a one-in-three chance of losing investment-grade status, sending shockwaves through the ministry. Its decision could raise costs for Indian borrowers and undermine foreign investor confidence in Asia’s third-largest economy.

“We were not expecting this downgrade,” one senior adviser at the ministry said.

The misplaced optimism before the cut suggests the finance ministry may be out of touch with opinion among private economists, investors and even the Reserve Bank of India (RBI) about the faltering economy. But it also reflects the view in New Delhi that India is unfairly saddled with a low sovereign rating.

In February, the finance ministry’s chief economic adviser Kaushik Basu complained that India’s fast growth was not reflected in global agencies’ ratings. “In relative terms, India has become a better investment destination,” Basu said.

As the news broke, top finance ministry officials huddled in their offices, eyes glued to monitors and television screens for signs of an investor exodus from the markets.

“The initial reaction was all of us turned on our TV sets to see what is happening in the stock market,” the senior adviser at the ministry said. Shares dropped more than one percent in the immediate aftermath but recovered to close down 0.33 percent.

Finance Minister Pranab Mukherjee’s first public comment on the cut - “don’t panic” - seemed aimed as much at his own ministry as at the general public.

While the shock news was a wake-up call, officials say the best they can do for now is take incremental steps aimed at restoring confidence in the India story.

India has lost some of its shine recently. After growing at an enviable average rate of more than eight percent annually for the previous five years, it expanded less than seven percent in the last fiscal year, its slowest pace in three years.

Zain honors credit and collection companies

in-the-making after 20 years of fast growth and it clearly rankles with some officials that S&P considers the economy as risky as those of some Central Asian and North African republics.

“We made the presentation arguing India’s growth prospects, tax-GDP ratio, efforts to fix the fiscal deficit, are quite genuine and deserve better ratings than countries like Tunisia,” said an official who was involved in the presentation to S&P. Dasgupta, who recently travelled to Tunisia, also said it was unfair to club India together with an economy in tatters after last year’s revolution.

The officials reminded Ogawa that India was still growing faster than any other major economy apart from China.

But skeptics say India is politically unable to take major steps to rein in ballooning subsidies, now more than two percent of GDP. Private economists also say the government will struggle to rein in its current account and fiscal deficits and revive GDP growth while world energy prices are high, and with a period of election spending looming.

Pray for rain

FILE- In this Thursday, Dec. 8, 2011 photo, a bird’s eye view of congested old Delhi is seen from one of the minaret of Jama Masjid Mosque in New Delhi, India. Standard & Poor’s (S&P) credit analyst Takahira Ogawa listened politely as officials at the finance ministry made an hour-long pitch for a ratings upgrade, citing economic growth prospects, revenues and their efforts to contain the government’s fiscal deficit. (AP)

The same 2011/12 fiscal year, which ended March 30, saw its current account and fiscal deficits blow out way beyond targets because of a growing bill for subsidies, mainly of fuel, and soaring oil and gold imports.

“If we are able to keep our budget targets on track, it would improve our credibility in the market, and may encourage the rating agency to reconsider its decision,” said a finance ministry official, who declined to be identified because he was not authorized to speak to the media.

The S&P cut added force to an avalanche of criticism about the government’s economic management. Earlier this month, Prime Minister Manmohan Singh sat silently as a panel of his peers, including the RBI governor, told him lack of progress on economic reform had left the economy in disturbing shape.

“The broader message for everyone in the government

is that we need to move a little faster and a little quicker,” said Dipak Dasgupta, the finance ministry’s top economist.

“We might hurry along a little bit given that everyone seems to think that we need to hurry. Fine, so we will do it.”

We’re not Tunisia

S&P ratings for India are the lowest for any of the socalled BRICS - Brazil, Russia, India, China and South Africa - grouping of emerging economies that are reshaping global power.

Indeed, some analysts speculate that India is at risk of being replaced in the BRICS ranks by Indonesia, whose credit ratings were recently upgraded to investment-grade.

S&P’s warning effectively says India’s rating is at risk of slipping to “junk”.

Policymakers in India see their country as a superpower-

Everyone from the finance minister to the RBI governor agree the most urgent step is to cut subsidies on fuel, especially diesel, which some officials say will happen in May. But the move is unpopular with the opposition and the government’s coalition partners and has long been delayed.

Officials said India plans to take incremental steps to support projected growth and trim its fiscal deficit to 5.1 percent in the current year while - as one minister put it “praying for good rainfalls and stable crude oil prices”.

One measure likely to take effect soon is a duty on gold imports, likely to be passed in parliament in May and projected to cut gold imports to 1.7 percent of GDP from two percent last year. India imported gold and silver worth $60 billion in 2011/12, pushing up the trade deficit to near $185 billion.

Officials also tout recent moves to lift exports of sugar, grains and cotton to boost farm growth and foreign exchange, and point to a jump in approvals for infrastructure projects as the prime minister focuses on supply bottlenecks.

But hurt by corruption scandals and held back by rebellious coalition partners, it is far from clear that Singh will be able to deliver enough reform to improve perceptions.

“The real issue in India is not that the problems are unknown or that the solutions are unclear; it is that solutions are not being implemented,” said Rajeev Malik, a senior analyst at CLSA Singapore. “That is unlikely to change substantially.” -Reuters

ALWATAN DAILY

BUSINESS

MONDAY, APRIL 30, 2012

Nokia faces challenges in emerging markets CAPITALS: Nokia phones once took pride of place in Manish Khatri’s Mumbai store, but now models made by Samsung Electronics get the limelight. He has nothing against Nokia, he says, but it’s better for business to push the more popular models.

That simple calculation is being made in thousands of stores across India and similar emerging markets, where Nokia’s rivals used to be relative minnows.

For 14 years the world’s biggest seller of mobile phones, it was overtaken by Korea’s Samsung in the first quarter of this year, having already watched both Apple and Samsung leapfrog its lead in the lucrative smartphone segment last year.

In the popular narrative of Nokia’s eclipse, it is Apple’s iPhone that steals the light, but the company is also losing its shine in the basic phone market, which had been a reliable generator of profits and carried the promise of years of strong growth in emerging markets.

No more.

Its basic phone sales fell 16 percent in the first three months of 2012, and have fallen in four of the last five quarters, while competitors like China’s ZTE and Huawei have been growing fast.

In India, the world’s second-biggest mobile phone market, with more than 900 million subscribers, Nokia’s market share has halved in the three years to 2011, when it sold 31 percent of the total 183 million handsets sold, according to Indian researcher CyberMedia.

Analysts say it has failed to keep up with the changing tastes of the growing middle class, and, in a country where the thin-margin network operators don’t tend to subsidize phones, is losing storeowners like Khatri, who influence buyers’ choices.

“For dealers like us, we face a lot of problems from Nokia for getting even the basic (demonstration phone) dummies to show to the customer,” he said. “There is no push from the company.”

He said his store, which sells around 500 phones a month, is probably not a priority for Nokia, but Samsung has been sending staff to visit.

Local favorites

In China, the world’s largest cellphone

market, operators have started to play a bigger role in selling phones, and that trend is working against Nokia.

“They prioritize domestic vendors over international companies,” said analyst Pete Cunningham from Canalys. In JanuaryMarch its sales there shrank 62 percent from a year ago. Its share of the market had dwindled to 24 percent last year from 39 percent two years earlier, according to research firm Strategy Analytics.

In Africa, too, its market share slipped to 51 percent last year from 62 percent two years before. It’s still ahead of rivals because of its superior distribution on the continent, says Neil Mawston at Strategy Analytics, but it has to act to arrest the decline.

“Nokia is drying up like a puddle in the sun and urgently needs new products to refill the puddle,” he said.

In the meantime, it is racking up losses, its shares have lost more than three quarters of their value in a year, and this week two agencies cut its credit rating to junk status.

Nokia says it is continuing to invest to

attract customers in these markets.

“Our mobile phones portfolio continues to be strong, especially in key markets like India, Nigeria, Brazil and Mexico where the Asha products are receiving record high scores from consumers,” said Mary McDowell, EVP Mobile Phones.

She said the company would be announcing data plans for the new Asha 202 basic phone model with five operators in India on Monday.

Missing touch

Analysts also say Nokia can be slow to react on popular technology.

In emerging markets, for example, multi-SIM models have been a draw for people who want to take advantage of freebies doled out by competing carriers, but Nokia lacked such phones until mid-2011.

Another costly gap in its basic phones offering is a full touch-screen model.

Around 105 million such phones were sold last year globally, according to Strategy Analytics.

“Nokia left the door wide open for Samsung and others by not delivering a

Date of Closing Prices:

Company

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High

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

1,060 440 890 270 435 730 590

1,060 440 890 265 435 720 590

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

104 260 148 320 61 110 36.0 156 51 32 38.0 66 285 39.5 230.0 96.0 67.0 196 72 68 62 51 108

102 260 144 320 59 102 35.0 150 51 31 37.0 65 285 38.0 226.0 93.0 61.0 192 72 68 61 51 104

460 126 -

460 126 -

56 110 130 255 228 37.0 94 1,000 73 19.5 66.0 89 61 72 36.0 86 26.0 43.0 60 75 49.0 32.0 42.0 29.0 57 370

55 108 128 246 228 36.0 92 990 73 18.0 63.0 89 58 69 36.0 84 23.5 41.0 57 75 46.5 31.0 41.0 26.5 55 360

Global Index - Banking

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

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

224 120 450 130 1,260 880

ŷ ŷ ŷ ŷ ŷ ź ź ŷ ŷ ź

1060 440 790 590 890 270 440 730 590 318.62

-5 -5 0.32-

DTD -0.49% -0.01%

Last Bid

Last Ask

MTD YTD -0.23% -2.35% 2.78% 8.98% Div. Annual Close High Yield Low P/E

2,867,500 160,000 485,000 1,120,000 300,000 1,950,000 1,705,000 8,587,500

78 5 14 13 6 90 43 249

3,039,550 70,400 431,650 297,500 130,500 1,423,400 1,005,950 6,398,950

1,040 435 580 880 265 430 720 590

1,060 440 610 890 270 435 730 600

3.8% 0.0% 0.0% 2.5% 1.7% 1.9% 2.3% 2.1% 0.0% 2.0%

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

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

15.26 37.84 1240.61 17.74 33.38 25.36 13.29 26.39 128.53 19.38

3 1 18 4 28 318 2 106 36 20 5 3 1 34 66 102 221 14 1 5 10 5 27

102 260 144 315 59 106 116 34.5 152 51 32 35.0 65.0 285 38.5 230.0 95.0 66.0 194 73 68 60 50 106.0

104 265 146 325 60 230 108 120 102 36.0 154 52 32 37.5 71.0 295 56 39.0 96.0 67.0 196 280 34 80 69 62 51 108.0

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% 3.6% 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

15.85 9.83 0.00

102 260 52 146 320 13.0 60 25.0 130 25.0 230 108 118 102 52 36.0 152 51 31.5 71 37.0 48.5 66 26.0 285 51 38.5 51 38.5 100 230.0 95.0 22.0 22.5 66.0 29.0 194 265 114 32.50 72 68 61 51 64 42.50 106 82.27

104 265 52 146 320 13.0 61 25.0 130 25.0 230 104 118 102 52 35.0 152 51 32 71 37.5 48.5 69 26.0 285 51 38.5 51 38.5 100 220.0 91.0 22.0 22.5 62.0 29.0 198.0 265 114 32.50 75 68 62 51 64 42.50 106 82.22

4 1.0 -1 -1 310.0 4.0 4.0 4.0-3 -1 0.05

80,000 20,000 460,000 90,000 1,920,000 33,760,000 320,000 7,480,000 2,560,000 2,080,000 480,000 200,000 20,000 3,360,000 2,320,000 6,040,000 13,800,000 1,040,000 40,000 680,000 400,000 320,000 1,380,000 78,850,000

1,030

8,200 5,200 67,200 28,800 115,440 3,580,600 11,280 1,142,560 130,560 65,120 18,120 13,160 5,700 130,840 528,920 571,440 891,640 203,000 2,880 46,240 24,640 16,320 146,640 7,754,500

300 520 460 126 220 122 40.50 42.44

300 520 500 134 220 122 40.50 43.48

Ex-D Ex-D -40 -8 Ex-D 1.04-

20,000 20,000 40,000

1 1 2

9,200 2,520 11,720

275 450 124 112 -

300 500 460 132 43.0

6.7% 3.8% 5.4% 4.0% 0.0% 0.0% 0.0% 4.9%

325 610 540 148 220 134 40.5 44.91

13.38 280 13.67 520 10.96 450 20.49 102 66.28 220 102 40.5 64711.96 12.95 42.22

56 110 130 246 28.5 234 118 104 37.0 110 92 1,000 74 19.0 64.0 91 60 72 78 37.0 84 23.5 87 17.5 41.5 61 70 160 48.0 32.0 40.5 17.5 26.5 134 134 220 55 360 58.67

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9 12 4 22 1 5 10 8 2 344 201 9 13 41 1 15 159 23 18 1 249 19 69 478 4 126 1,843

50,640 54,880 10,320 159,300 13,680 14,640 48,080 67,250 5,840 1,163,320 1,542,520 49,840 33,400 154,760 2,880 78,200 520,480 111,560 44,960 3,000 2,539,220 52,880 317,800 2,388,960 11,200 1,658,850 11,098,460

55 108 128 246 228 120 104 36.5 92 1,000 73 18.5 62.0 88 59 68 78 36.0 84 26.0 87 41.5 57 66 152 47.0 31.0 40.5 29.0 35 57 360

56 112 132 250 31.0 234 108 37.0 110 94 1,020 74 19.0 64.0 90 60 70 82 38.5 85 92 42.5 59 168 47.5 31.5 41.0 38 58 365

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0.0% 4.5% 0.0% 6.1% 0.0% 3.5% 0.0% 6.7% 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% 6.7% 6.3% 0.0% 0.0% 0.0% 0.0% 0.0% 3.7% 0.0% 0.0% 0.0% 0.0% 1.0%

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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

ź ź ŷ Ÿ ŷ ŷ ŷ Ÿ

224 120 450 124 1,260 290 152 880

226 122 450 122 1,260 290 152 870

2,140,000 2 140 000 120,000 10,000 440,000 7,500 15,000

49 5 1 9 2 3

476,320 476 320 14,400 4,500 55,800 9,350 12,950

222 120 445 124 1,240 285 144 860

224 122 460 130 1,260 295 156 880

0.0% 0 0% 0.0% 3.3% 0.0% 5.8% 3.4% 0.0% 7.4%

260 136 475 158 1,480 345 222 920

214 116 415 122 1,240 290 134 660

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

ź ź ŷ ŷ ź

222 120 450 124 1,240 840

1060 440 790 590 890 265 435 730 590 318.30

Previous Close Change 179.77 -0.88 6,337.00 -0.50 Trading Activity Tran. Value(KD) Chng Volume

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

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-2 -5 -1

-2 -2 2 10

05 / 01 / 2012

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

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“Nokia’s main challenge this year is to arrest the sharp decline in its flagship smartphone portfolio and use it to rebuild a positive halo-effect for the overall Nokia brand,” said Mawston.

The company abandoned its own Symbian smartphone operating system last year in favor of the largely untried Windows Phone alternative after Stephen Elop joined as chief executive from Windows maker Microsoft. Symbian sales have nosedived before the Windows models got off the ground.

This month it started sales of the first Windows smartphones in China with an aggressive marketing campaign and huge ads at subway stations, in magazines and newspapers.

There are some positive noises coming from customers.

“I just bought a new Nokia Windows phone and wasn’t very used to its tile design, but the experience was quite good after half an hour. All the basic functions I need are there, and I’m beginning to think that Windows phones will make it,” Wang Xiao said on his Sina microblog.

“Having an operating system which is Windows-based doesn’t excite me,” said 22-year old student Akshay Johar in New Delhi, looking at one of Nokia’s new Lumia models, but added: “The phone has great features, it looks good, the touch screen is very responsive.”

He is considering buying one, he said.

About 27 million people need to make that decision this year, 55 million next year, and 94 million in 2014, according to analysts polled by Reuters.

That only two million did in the first quarter shows how steep is the mountain that Nokia must climb. -Reuters

Trading Prices of Kuwait Stock Exchange Date of Closig Prices: 29/04/2012

Date of Closing Prices: 29 / 04 / 2012 For more information please contact “Global” at (+965) 180 42 42 or www.globalinv.net ź

CAPITALS: Gadget giant Apple is avoiding billions of dollars in taxes by setting up small offices around the world to collect and invest the company’s profits, according to The New York Times.

The report said an office in Reno, Nevada, where the corporate tax rate is zero, was one of many that the California-based technology giant uses to legally sidestep state income taxes on some of its gains.

California’s corporate tax rate is 8.84 percent.

Record sales of iPhones and iPad tablet computers, particularly in China and other parts of Asia, saw Apple report last week that it made a 39.2 billion US dollars profit in the quarter ended March 31. The Times quoted Apple executives who said the Reno office and others in Ireland, the Netherlands, Luxembourg, the British Virgin Islands and other low-tax places were among the legal methods the company was using to reduce its global tax bill.

The newspaper said Apple had “devised corporate strategies that take advantage of gaps in the tax code,” citing former executives who had helped craft those policies.

In Reno, Apple uses a subsidiary named Braeburn Capital to manage and invest the gadget company’s money, the report said, and when those investments succeed, the Nevada address shields the profits from being subjected to tax. Former executive Robert Hatta, who oversaw Apple’s iTunes retail marketing and sales for European markets until 2007, said routing transactions through Luxembourg allowed them to be taxed at low rates.

“We set up in Luxembourg because of the favorable taxes,” Hatta told the Times.

“Downloads are different from tractors or steel because there’s nothing you can touch, so it doesn’t matter if your computer is in France or England. If you’re buying from Luxembourg, it’s a relationship with Luxembourg.”

In a statement to the Times, Apple said it “has conducted all of its business with the highest of ethical standards, complying with applicable laws and accounting rules.”

“We are incredibly proud of all of Apple’s contributions,” it said, noting that the company “pays an enormous amount of taxes, which help our local, state and federal governments.” -AFP

Slipped halo

Trading Prices of Kuwait Exchange Trading Prices of Kuwait StockStock Exchange

Global General Index KSE Price Index

Apple avoiding billions in global taxes, report claims

full-touch feature phone. The Koreans figured it out three years ago, yet Nokia still does not have a product,” said Ben Wood, head of research at CCS Insight.

“In the meantime, prices of Android smartphones have dropped, and Nokia’s window of opportunity is almost closed.”

Nokia is due to unveil a full-touch 306 feature phone model in the coming months.

FILE - File photo of a Nokia smartphone with currency graph on display is seen in Zenica, April 12, 2012.

11

14.24 0.00 9.03 0.00 0.00 0.00 0.00 0.00 0.00 47.89 0.00 0.00 69.83 0.00 0.00 0.00 0.00 13.64 0.00 0.00 0.00 19.36 20.94 16.18 550.15

0.00 0.00 5.29 13.92

50.32 12.93 17.17 22.25 10.99 15.16 23.62 29.41 0.00 15.51 410.74

144.42 0.00 13.74 8.00 202.69 0.00 0.00 26.88 439.41 0.00 0.00 19.36

20.11 7.29 13.08 19.03 31.52

232 ACICO 88 United Industries Company High 620 Boubyan Petroch.

1,140 Gulf Glass National Bank Gulf Bank 495 Hilal Cement Commercial 770 Al Kout Ind.Bank Project Ahli Bank 640 K-PAK Ahli United Bank 850 Building Material International 248 Nat. Ind.Co.Bank 460 Burgan Bank Equipment Holding 194 Kw Finance House Consumer Industries 890 Boubyan Bank 590 Kuwait Gypsum Global Qurain Index - Banking 214 Salbookh Trading Kw Investment - IKARUS 188 265 Commercial Facilit.

Boubyan Int'LAdv. Ind. 4174 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 83.0 Securities Group Educational Group Int'L Finance Indep. Petroleum 110 MARKAZ National Cleaning 158 KMIFIC Sultan - 108 Int'L Inv. Center Group Arabi 138 Aref Inv.Group Group City Group Investment Dar - Tele.

2,460 AlWataniya AMAN Inv. Kw Gulf Link 122 ALOLA Inv. 110 Kw Cable ALMAL Inv. Vision 50 Automated System 300 Gulf Inv. House NAPESCO - A'ayan Leasing KCPC 295 32.5 Bayan Inv. K.S.H Inv. GLOBAL EyasInv. Osoul Hits Telecom GULFINVEST - 98 KFIC - 19.0 Al Safwa Holding KAMCO - Human Soft Int'l Leasing & Holding Inv. -75 Privatization Nat. Int'l Holding - Nafaaes Holding - Housing Finance National Slaughter MADAR Aref energy 126 26.5 AlSafwan Deera Holding AlGulf Safat Inv. Petroleum 68.0 122.0 AlGulf Salam Group Franchising 23.5 41.0 Ekttitab Credit Holding & Collection AlNational Qurain Holding -23.5 Ranges Sokouk BurganHolding Well Drilling 16.5 Al-Madina 40.0 IFA H&R Finance NOOR 1,680 Combinted Group Tamdeen Inv. 160 Jeeran Holding KW BH Int'l Exch.

Palms Agro Taiba Kuwaiti Holding 72.0 Safat TEC Kuwait Syrian Mushrif Trading 102 Strategia UPAC 53 Kuwait China Inv. ALAFCO 300 Manafae Inv. Al-Muwasat - Gulf North Africa Mashaer Holding 285 Amwal Fuel AlOula Masar - 255 Future Comm.

Al-Imtiaz 132 126 Hayat Comm.

Global Index - Investment 72 Mubarrad Transport Kuwait Insurance 48.0 Kuwait Resorts Gulf Insurance - Advanced Technolgy Ahlia Insurance 365 Yiaco Medical 112 Warba Insurance 435 Al Jazeera Airways Kuwait Re-Ins. Al Soor Fuel 234 First Takaful - Future Kid Ins. Wethaq Insurance KGL 280 Global Index - Insurance82 Al Nawadi Alrai Media 124 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 22494 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 Shuaiba Industrial

Metal Collecting Global General Index Kuwait Foundry KSE Price Index

- ŷ - źŷ - źŷ 226 Ÿ 86 ŷ Low 610 ŷ 1,120 - ŷŷ 490 - ŷŷ 770 - ŷŷ 640 - źŷ 800 - Ÿ 248 - ŷŷ 455 180 źź 880 - źŷ 580 - ŷ 214 źź - - ŷŷ 188 źŷ 260 4074 źź 170 źź 300 - Ÿŷ 12.5 ŷ - ŷ 52 ź 410 ŷ ŷ - ŷ - ŷ 730 ź ŷ 79.0 Ÿ - ŷ - ŷ - ŷ 108 - ŷŷ 154 - ŷŷ - 106 ŷŷ 132 - ŷŸ - - ŷŷ 2,420 ŷź 116 ŷŷ 108 49 - źŷ 295 - ŷŷ - - ŷŷ 290 ŷŷ 31.0 - ŷŷ -ŷ - 92 ŷŸ - 18.0 ŷŸ - - ŷŷ -74 ŷź - - ŷŷ - - ŷŷ - ŷź 126 26.5 - ŷŷ - ŷź 64.0 114.0 20.5 Ÿŷ 39.0 - źŷ -21.5 ŷŸ 16.5 - ŷŷ 38.5 - źŷ ŷŷ 1,680 158 źŷ - ŷ - ŷ - ŷ 72.0 ź - ŷ 95 Ÿ - ŷ - ŷ 53 ŷ 295 - ŷŸ - - ŷŷ 275 - ŷź - 255 ŷź 124 - źŷ 120 źŸ 66 ź - ŷŸ 48.0 - - ŷŷ - ŷź 360 108 415 źŷ 234 ź - -ŷ 265 ŷź 80 źź 122 źź 48 100 - Ÿŷ 118 Ÿź 200 ź - ŷ ŷ 22493 źŷ - ŷŷ 1,340 - ŷź 30.0 - źŷ - - ŷŷ

Global Index - Food 98 96 ERESCO 860 - 840 Mabani Sharjah Cement 7586 7484 INJAZZAT RE Gulf Cement Inv. Holding Um QuwainGrp Cement 12.063 11.563 Int'L Resorts Fujaira Cement 78 77 Commercial R.E 126 128 Ras AlKheimah 70 65 Sanam R.E. ARIG 112 112 54 53 Aa'yan R.E United Gulf Bank 168 168 Aqar Egypt Kw Holding Kuwait R.E Holding Bahrain Kw Ins. 59 AL Mazaya 60 59.0 Gulf Fin. House 62.0 14.0 Al Dar National R.E 14.0 InovestInt'L Holding -76 -74 Themar Ahli United Bank - 168 Grand R.E Projects - 170 - 42.5 Tijara & R.E Invest -44.0 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 510 Specialities Group 500 - Mena Real Inter.

Estate - Masaken AlDulaqan MoudonR.E Intl. R.E - - Markaz Real Estate 5790 5690 Eid Food Kuwait Remal 295 - 285 Maidan ClinicR.E Global Index - Real Estate Flex Dar Al-Thuraya Real E 242 102.0 232 102.0 Nationl Ind. Group Kw Medical Services 12880 12680 Pipes Ind. & Oil Kuwait Amar Cement For Fin. & Leas. 455 - 450 Refrigeration Ind.Market Total Parallel 1,420 1,420 Gulf Cables & Elec.

Heavy & Ship.

Totaleng.

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

źź Ÿŷ Ÿź ź ŷ ŷ Ÿ Ÿ ź ź ź ź ŷ ŷ ŷ ź Ÿ ź ŷŷ ŷź ŷŸ ŷź ź ŷ ŷ ŷ źŷ źŷ ź ŷŷ źŷ ŷź ŷŷ ŷŷ źź Ÿ ŷ ź źŸ ŷŸ źŷ ŷ ź ŷ ŷ ŷ ŷ ź ŷ

Last Close Previous Close - Change 216 216 122 176.53122 177.24 -0.70 - 5,754.20 - -27.30 345 3455,726.90 6 380,000 18 87,040 226 232 Last Prev.

Trading Activity 440,000 10 38,480 88 88 Close Close Chng - Volume 1,010,000Tran.

18 Value(KD) 620 620 616,150 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 16 248 248 - 700,000 173,600 305 305 460 465 -5-8 500,000 1078 229,750 188 2,020,000 180 379,880 890 -10 880 1,280,000 66 1,127,050 102 102 590 590 607,850 1,035,000 33 128 Ex-D 128 319.37 319.54 8,092,500 6,639,050 0.17216 -2 980,000 24016 209,720 214 44 44 106 106 - - - - 188 20,000 188 3,760 260 265 -5 250,000 14 1 65,750 40,000 2,960 4074 1,680,000 -1-2 67,160 4176 13 1 7,622,500 211 0.341,911,310 167.28 167.62 170 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 67,280 410 140,000 8 57,400 410 25.0 25.0 52 52 130 130 669,250 750 -20 905,000 730 33 31.0 31.0 4.0 15,440,000 83.0 126 1,252,080 79.0 230 230 110 110 102 102 340 340 -108 112 73,920 680,000 18 167,840 1,080,000 156 156 -50 50 -27 560,000 108 108 59,600 44.0 44.0 -24 4,300,000 584,120 136 130 52 52 -6 -89 550 550 74 74 - - - - 82,500 2,460 200,050 2,420 28.5 28.5 - -40 -16 1,560,000 186,040 122 122 108 1446 54,920 108 - 500,000 58 4958 49.5 15,840 -1 320,000 4 5,950 20,000 300 300 23 -2 23 - 330 330 71 - - 71 - - 290 43,600 150,000 290 31.0 31.0 58,760 1,840,000 22 5 - 255 255 48.5 - 48.5 - - 260 260 - - 68 68 -Ex-D - 1 2,477,480 26,040,000 368 96 95 20.5 20.5 26.0 26.0 1 16,240,000 18.0 18.5 101 299,240 244 - 244 - - - 270 270 9474 --1 9475 -21 1,200,000 88,880 - - 5194 5194 - - - 36 36 - - - 154 154 -4 51 51 --2 126 128 100,000 12,600 26.5 26.5 2 6,360 240,000 540 540 75 75 -97 1.066.0 67.0 5,680,000 374,200 8.0 120.0 112.0 11,180,000 1,305,280 1,520,000 21218 23.0 23.0 34,000 2.039.5 41.5 24 77,080 1,920,000 120 120 19.0 19.0 - 1.5 280 1,393,600 22.0 23.5 61,360,000 16.5 5 7,920 16.5 480,000 248 248 39.0 0.5- - 10,640,000 93 419,440 38.5 395 395 29.0 29.0 -4 10,000 1,680 1,680 16,800 160 2.0158 12,680 80,000 4 85 85 255 255 108 108 114 114 1 72.0 73.0 2,880 1.040,000 26.00 26.00 60 1 740 000 174 080 102 96 6.0 1,740,000 45 174,080 68 68 340 340 53 200,000 53 10,600 2 300 295 73,800 250,000 -5 60 -9 60 168 168 46.5 - - - - 46.5 290 285 246,400 880,000 64 --5 -30 64 255 260 10,000 2,550 42.50 --5 42.50 -1 265 265 128 130 -2 1,240,000 38 157,920 124 303,040 120 4.0 40,720,000 2,440,000 55885 76.02 0.1275.90 2,702,550 67 509,240 71 127 -4 7,440,000 -1 325 325 48.0 47.0 3,840 1.0 80,000 - - 560 560 - 810 810 -485 485 360 18,050 4 365 5.050,000 118 -8 120,000 110 62 13,200 435 8,500 435 20,000 220 220 Ex-D 234 236 9,360 -2 2 40,000 114 114 - - - 108 108 Ex-D 40.50 40.50 275 650,250 280 82 -5 2,390,000 43.63 43.43 0.19120,000 65 13,200 80 22,680 82 -2 280,000 126 200,000 24,600 124 19 3,840 49 -1-2 48 80,000 98 92,000 9 100 9998 1 920,000 383,920 124 120 4 105 3,100,000 1,672 738.56 9,972,000 748.85 152,247,500 10.2912 104,680 200 204 -4 520,000 184 184 37.5 37.5 93 111,640 1,200,000 93 325 224 10.0- 100,000 22,400 234 136 136 120 120 - 1,340 1,360 73,750 55,000 --20 82 -10 82 340 340 1 30.0 80,000 30.5 0.52,400 580 580 - 108 108 - - 3.94185,390 331.33 335.27 1,255,000 31,160 -1 320,000 98 97 835 1,656,950 10 1,935,000 850 57 860 80 80 2 8,960 120,000 2-1 7585 7386 720,000 61,040 14 15 3 23,960 11.5 12.0 0.52,000,000 69 Ex-D 12,600 63 200,000 38.0 38.0 91 91 3 18,520 78 77 1 240,000 128 126 820,000 2 14 103,520 67,400 17 1,000,000 65 70 -5 112 114 -2 1 13,440 120,000 4 10,720 54 -1 55 200,000 168 178 -10 140,000 23,520 5 90 90 285 285 38.0 38.0 455 Ex-D 455 11 59 26,160 440,000 -4 63 58.0 4 3,604,520 62.0 545 60,000,000 1 80,000 1,120 14.0 14.5 0.5248,800 3,320,000 -52 9175 9175 47,240 168 170 280,000 - -2 -6 17.5 17.5 31.0 31.041.5 44.0 27,200,000 192 1,183,040 3 59 59 5,297,720 43.16 0.2042.96 92,800,000 832 -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 19.0 19.0 1,200,000 8 1.0- 19,240 16.5 15.5 33 33 - -10 -3 134 134 10,100 20,000 510 500 - 134 134 51 51 - - - - 220 220 345 345 1 240,000 6 13,520 5790 58 1 3,600 40,000 106 -16 47 610,850 295 290 5 2,110,000 2,260 2,260 0.02- - 53,085,000 - 332 4,151,200 49.73 49.75 39.5 39.5 102.0 232 128 80 450 55 150 1,420 335 212 720 ź 180 ź 104 460 ź

96.0 6.0 13,220,000 40,000 154 1 242 -10 128 -5 140,000 61 75 40,000 470 20 50,000 2 55 150 -6 140,000 1,460 -40 2,500 1 335 612,150,0005,874 212 Close Prev. Close 720 230,000 19 189.44 180 188.52 184.303 106 183.07-2 80,000 460 562.83 563.14

DTD MTD YTD 0.0% 216 180 13.22 216 -0.40% 126 -1.55% -1.55% 0.0% 120 102 112 495 0.0% 315 330 355 -1.50% -0.47% -1.50% 230 2.2% 196 28.80 228 232 Annual Close 79 Last87 Last 88 Div. 0.0% 102 36.02 Bid610 Ask 620 Yield High630 Low550 P/E88.41 0.0% 1,100 1,400 3.6% 1,100 17.40 1,120 3.6% 1,140 1,120 1,100 14.74 490 495 510 490 33.95 222 0.0% 6.9% 216 206 12.38 206 770 780 1.9% 790 770 88.62 340 9.94 390 8.4% 415 640 660 - 3.1% 660 640 17.34 0.0% 300 275 5.20 840 850 - 1.6% 850 790 29.68 228 35.32 2.2% 224 246 248 255 248 23.59 260 24.93 325 305 315 0.0% 3.3% 460 465 475 46051 12.26 152 0.0% 178 180 0.0% 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 13.03 212 0.0% 319.54 0.00 0.0% 102 106 - 0.0% 10651 10641 40.56 162 214 16.76 188 4.3% 190 8.5% 260 265 265 260 12.09 0.0% 4074 4076 0.0% 4288 4070 163.04 13.77 174.76 2.8% 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 0.0% 280 51 52 0.0% 54 52 430 15.87 340 7.3% 405 410 0.0% 25.0 25.0 0.00 65 41 0.00 0.0% 0.0% 130 130 900 690 11.00 730 8.9% 740 33.5 0.0% 36.0 31.0 81.0 45.0 82.0 0.0% 83.0 0.0% 230 230 110 110 58.86 0.0% - 0.0% 102 102 0.00 295 345 9.3% 350 0.0% 106 110 116 108 170 19.93 110 154 3.2% 156 0.0% 50 50 0.00 102 136 0.0% - 106 - 108 0.0% 44.0 44.0 0.00 11.49 134 132 136 0.0% 0.0% 52 5284 0.00 530 560 550 0.0% 0.0% 74 74 0.00 1,920 12.63 2,420 2,440 0.0% 2.1% 2,440 27.0 29.5 28.5 28.5 0.00 120 0.0% 122 0.0% 132 110 112 10895 0.00 108 0.0% 49 5056 0.0% 5168 4958 230 22.18 295 8.3% 320 0.0% 350 21 24 23 22 7.6% 340 8.13 320 395 - - 0.0% 71 71 0.00 3.4% 260 9.91 295 0.0% 290 305 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 32.31 316.39 0.0% 132 - 95 - 96 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% 280 0.0% -74 -75 0.0% 9484 9461 0.00 13.10 6.8% -89 5499 0.0% 51 5184 116.80 0.0% 104 - 0.0% 36 36 0.00 154 9.95 0.0% 184 154 0.0% 51 5191 0.00 0.0% 120 128 124 26.0 26.5 27.0 27.5 520 13.11 590 0.0% 5.0% 510 710 0.0% 75 75 0.00 30.0 10.25 66.0 0.0% 64.0 78.0 99.0 120.0 120.0 118.0 16.0 23.0 0.0% 0.0% 22.5 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 23.5 0.0% 0.0% 12.0 23.0 16.0 16.5 17.0 16.5 40.69 198 260 0.0% 0.0% 275 39.0 38.0 38.5 39.0 86.17 490 380 400 0.0% 385 0.0% 0.0% 29.0 0.00 % 29.0 15.98 1,700 1,740 1,500 1,660 4.2% 156 8.28 3.8% 156 160 162 5.65 84 88 0.0% 89 73 255 22.77 255 270 5.1% 104 110 12.52 9.3% 126 86 11.92 114 0.0% 114 71.0 74.0 0.0% 78.0 57.0 26 27 0.0% 28 0 0% 0 00 100 102 0.0% 104 80 0.00 68 43.00 63 73 0.0% 68 340 340 350 12.34 8.8% 270 53 53 52 0.0% 55 280 3.3% 315 3.92 295 300 60 61 0.0% 60 130 7.71 6.0% 168 176 10.8% 47 47 - 47 172 4.6% 290 0.0% 10.14 305 285 64 69 64 21.75 305 265 0.0% 42.5 0.00 - 242 - 255 0.0% 42.5 300 128.0 18.62 275 0.0% 265 0.0% 124.0 128.0 132.0 5.19 126 2.4% 124 124 75.90 70 0.0% 10.01 76.32 68 67 51 0.0% 72 16.97 325 300 325 325 49.0 6.2% 0.0% 62.0 48.0 44.0 20.90 12.90 610 510 560 560 1.9% 770 750 4.5% 640 33.57 9.91 460 500 5.2% 520 485 375 4.2% 390 360 11.80 345 17.37 108 114 118 110 425 430 9.1% 485 410 9.97 0.0% 220 220 2.7% 0.0% 232 236 270 236 296.83 17.21 134 11498 110 4.6% 14.91 104 108 0.0% 114 40.5 43.0 40.5 300 218 8.42 270 275 0.0% 7.3% 12.60 44.80 92 43.43 77 81 4.7% 6.95 80 8.8% 114 124 0.0% 118 156 23.07 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 11.28 791.90 705.36 12.2% 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 22494 4.5% -93 126 6.02 128 146 3.7% 136 0.0% 130 120 110 130 1,340 1,360 11.22 1,380 4.9% 1,500 6.1% 82 82 5.29 85 290 340 390 44.60 345 1.5% 0.0% 30.5 30.0 31.5 530 500 10.40 620 6.5% 5.2% 610 108 108 15.28 112 118 11.26 365.22 331.33 4.2% 0.0% 100 96 39.65 95 98 860 840 21.70 860 870 - 0.0% 95 0.0% 44 76 73 76 - 0.0% 71 55 0.0% 108 0.00 12.573 11.543 11.584 12.086 0.0% 29.27 11.1% 0.0% 38.0 38.0 35.5 37.0 46 63 64 0.0% 122 0.0% 78 14.56 77 77 79 90 118 11.48 7.8% 126 0.0% 75 65 65 102 126 0.0% 132 128 54 26.32 0.0% 55 53 54 116 172 106 0.0% 232 365.94 0.0% 90 90 91 186 7.0% 330 250 6.35 170 0.0% 38.0 38.0 40.5 290 295 5.5% 455 0.00 455 63 60 0.0% 59 0.0% 74.0 588.95 40.5 14.5 4.15 14.5 14.0 0.0% 13.5 0.0% 9462 5.5% 91 91 9061 9.27 7.1% 17.5 17.5 - 75 0.0% - 74 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 8.63 4.2% 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 25.5 230 0.0% 6.0% 13.99 24.5 28.0 28.5 27.0 18.0 21.5 0.0% 0.0% 15.531 16.033 0.0% 16.5 15.5 0.0% 134 130 134 23.07 5.7% 495 510 3.7% 16.05 32 29 3250 0.0% 32 0.0% 220 0.0% 220 18.82 218 0.0% 320 816.78 57 60 0.00 5580 5790 0.0% 0.0% 8.47 295 270 0.00 290 295 - 0.0% 0.0% 1.1% 49.86 49.73 16.27 42.0 0.0% 22.19

4,080 -3,111,120 17,800 3,200 122 22,550 455 150 20,980 3,550 1,420 42,630,050 310 Change 710 165,600 -0.93 178 -1.23 104 8,480 435 -0.32

102.0 232 130 465 1,440 340 216 DTD 720 -0.49% 190 -0.67% 108 -0.06%

0.0% 0.0% 0.0% 0.0% 2.2% 0.0% 3.3% 0.6% 4.6% 4.74% 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 -2.41% 180 180 -3.79% 104 116 460 460 0.57%

70.58 18.38

14.15 6.49 14.59 8.02 193.84 YTD 96.15 -0.54% 10.91 -3.70% 23.15 26.77 0.15%

STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY monday, april 30, 2012

April 2009 April21, 29, 2012

1% 6%

1% 6% Oman

0%

100

0%

105

95 100

Bahrain

-1%

Kuwait Saudi

Dubai

Saudi

29-Feb-12

29-Mar-12

-4% -6%

90 95 29-Jan-12 85

-6%-2

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

GCC Best Performers

MENA Best Performers

-1%

29-Apr-12

-2%

1

MENA Indices Highlights Country (Index)

Index Level

% Chg.

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

Index 7,556

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

2,512 5,250

Qa UAUAE Qatar (DSM Index) (ADSM Index)

8,688 2,695

Ku Kuwait (KSE Weighted Index)

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

OmOman UAE(MSM (DFMIndex) Index)

Level 416

Ba Bahrain (BSE Index)

Le Lebanon (Beirut SE Index)*

Jo Jordan (Amman General Index)

Pa Palestine (Al-Quds Index)

M Morocco (Casa All Shares Index)*

Tu Tunisia (Tunis SE Index)*

Le Lebanon (Beirut SE Index)* *Market Closed

Pa Palestine (Al-Quds Index)

0.2% -4.0%

2.6%

4,921

5,478

1,681

10,218

463

1,182

2,825 469

10,621

5,083

1,094

3,282

0.3% 3.9%

-0.3%

5.1% -

0.4% -

-

-

2.2%

-0.1% -

-

-

0.9% -

467

Turnover USD million

52 Wk 5,916 Low

Turnover 2,348 USD million

396

PE

Mkt. Cap. 393,704 USD million

153

Trailing

8,071 2,137

101 122

125,426 69,783

11.42 7.29

0.4% -18.8%

1,406 12,627

1,129 4,230

0 196

17,218 65,352

9.03 8.85

2,214

1,921

-

27,436

35.9%

0.7%

-0.1%

-6.8%

-8.1%

8.5%

0.5%

2.4%

-1.6%

6,372 5,860 5,628

12,109 2,903

12,203

1,033

1,403

5,044 513

-3.3%

14,635

23.6%

739

6.8%

-7.2%

5,115

2,119

13.6%

3,418

68 718

5,419 1,433

34,440 98,547

13 305

3,587

4,224

1,572

10,218

49

-

1,164

-

2,551 465

9,406

-

4,091

-

1,043

-

407

2,837

-

33,782

12.71

10,046

15.56

1.29

3.19

1.56

6.34

2,481

0.85

2.15

9.20

59,990

1.12

18.36

8,507

2

1.60

7.67

10,570

3

1.68

8.07

14.97

63,640

67

1.34

9.50

18,727

3.95

1.77

6.47

2,079

0.86

8.67

6,576

MENA Worst Performers

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

GC Gulf Cement Co.

225 Saudi Industrial Inv. Grp.

101 Riyad Bank

Tadawul Index 52 week High / Low

115

SAR 24.70

-6.4%

117,918,453

Turnover (USD)

112,019,966

201 Saudi Basic Industries Corp. (KSA)

343,553,085 91,658,476

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

119,955,261 75,004,616

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

97,126,838

NBKNational Bank of Kuwait (KUW)

88,742,222

20Saudi Basic Industries Corp.

S&P GCC Large/Mid Composite

343,746,784

1 Alinma Bank

29-Apr-12

% Chg.

184.25

0.6%

50.00

0.4%

67.25

1040.SSE Saudi Hollandi Bank

2060.SSE National Industrialization Co.

Turnover (SAR) 547,758,995 4300.SSE Dar Al Arkan Real Estate Dev. Co. 442,229,576 7030.SSE Zain - Saudi Arabia 420,108,478 1211.SSE Saudi Arabian Mining Co.

43Dar Al Arkan Real Estate Dev. Co.

29-Mar-12

Close

0.4%

29.00

0.4%

36.00

0.3%

Worst Performers

42Emaar the Economic City

29-Feb-12

64,280,166

3020.SSE Yamama Saudi Cement Co.

Highest Turnover

105

-6.8%

146,057,381

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

1,476,507,073

Market Cap. (SAR '000)

113

-2.7% -8.9%

Turnover (USD)

MENA Highest Turnover

8,804,927

-9.3%

-2.6% -8.6%

422 Emaar the Economic City (KSA)

7,931 / 5,916 2280.SSE Almarai Co.

Turnover (SAR '000)

116

8.0%

KWD 0.228 SAR 48.00

SAR 13.70

GCC Highest Turnover

0.24

Advance/Decline Ratio

2.6%

8.0%

% Chg.

KWD 0.730 SAR 22.95

83% 2020.SSE Saudi Arabian Fertilizer Co.

% of stocks trading above 1yr avg. price

3.9% 8.6%

AED 3.43 -13.1% -4.7% KWD 0.265

7,556 (-0.7%)

Tadawul Index (% Chg.)

125

4.4% 8.8%

AED 1.03% Chg. -5.5% Close

EMAEmaar Properties (UAE) Best Performers

Summary

7.1% 9.8%

AED 1.76

KFI Kuwait Finance House (KUW)

Rebased Performance

95 29-Jan-12

Close

NBQNational Bank of Umm Al Qaiwain

0.88 201 TAM Tamdeen EstateCorp.

Co. 1.74 Saudi BasicReal Industries

13.62

56,672

OMR 0.720

GCC Worst Performers

1.91 FAC ART Arabtec Holding 1.37 Commercial Facilities Co. 1.61 ZAI Zain Kuwait 0.88 238 Rabigh Petrochem.

9.60

15,024

4

1.03 1.77

10.47 6.87

56,768

46

-

328

18,134 37,413

1.99

0.78 1.52

8,892 5,148

1,301 316

8.58 10.24

QAR 21.60

BKMBankMuscat

PB

11.62 9.99

-1.0% 12.8%

1,754 787

66,359 264,263

QAR 28.10

QGTQatar Gas Transport Co.

PB1.43

26 2,183

KWD 0.108 QAR 6.35

BREBarwa Real Estate Co.

PE 14.18

2,293 4,130

AED 1.18 OMR 0.703

IFC International Finance Co. KCB Al Khaliji Commercial Bank

12.85

100,646

OMR5.60 1.122 SAR

ALDALDAR Properties& Contracting GEC Galfar Engineering

Trailing

Mkt. Cap. USD million

2,775 10,090

3.1% 6.6%

0.3% 0.6%

52 Wk 7,931 High

52 Wk Low

4.5% 9.3%

0.5% 1.9%

546

Tu Tunisia (Tunis SE Index)* * Market Closed

-0.4%

5,871 1,745

1,990

Eg Egypt (Hermes Egypt Index (HFI))*

17.7% YTD

21.1% -0.2%

Jo Jordan (Amman General Index)

M Morocco (Casa All Shares Index)*

%-0.7% Chg.

-0.8% 1.8%

1,149 5,590

OmOman (MSM Index)

YTD

1,639 406

Ba Qa Bahrain Qatar(BSE (DSMIndex) Index)

Eg Egypt (EGX 30 Index)

52 Wk High

% Chg.

USD 0.170% Chg. 9.7% Close

RCC Raysut Cement Co. 3 428 Kingdom Hldg. Co.

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

Close

4 ITH Ithmaar Bank

Period's Liquidity 1 Ratio (PLR x)

-1

Abu Dhabi Abu Dhabi

Abu Dhabi

Kuwait

Palestine

Return DailyDaily Return (%)(%)

109

0%

Dubai

110

0%

Qatar

Bahrain Dubai Abu Dhabi

Palestine

105

2%

Oman

Saudi Dubai

Qatar

Qatar Saudi

111

113

4%

Oman Qatar

115110

Kuwait Oman

113

Jordan Kuwait

113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Egypt Jordan

120115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

281,289,810

42Jabal Omar Development Co.

4250.SSE Jabal Omar Development Co. 1140.SSE Bank AlBilad

Close

% Chg.

11.50

-2.1%

9.60

-2.0%

22.20

-1.8%

33.30 30.20

-1.8% -1.6%

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

Close 78.25

Daily % Chg. -1.0%

High 79.00

Low 78.00

Turnover (SAR '000) 82,762

1 Alinma Bank

15.05

-1.3%

15.25

15.00

343,747

1 Arab National Bank

31.00

0.0%

31.10

30.70

4,945

2 Almarai Co.

67.25

0.4%

67.75

60,886

30.00

19,835 2,757

1,055

52-Week High

-5.4%

12.6%

71.75

48.41

-6.3%

17.5%

160

33.70

9.05

-7.4%

26.60

-8.0%

15.75

-10.7%

6.05

-17.0%

69.00

50.00

-0.7%

165.00

105.50

30.20

-1.6%

1 Banque Saudi Fransi

38.50

0.3%

38.70

38.20

4 Emaar the Economic City

13.40

-1.1%

13.80

13.25

547,759

22.15

281,290

12.10

5,486

451

22.80

30,596

1,333

28.90

21.20

-20.8%

51.00

13,344

260

56.75

42.40

33.30

46,844

1,397

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

4 Jabal Omar Development Co. 4 Jarir Marketing Co.

4 Kingdom Holding Co.

2 National Industrialization Co.

28.50

11.50

-2.1%

68.50

-0.7%

22.20

160.00 12.10

36.00

2 Rabigh Refining & Petrochemical Co.

22.90

1 Samba Financial Grp.

52.00

1 Riyad Bank

24.95

2 Saudi Arabian Fertilizer Co.

184.25

2 Saudi Basic Industries Corp.

102.75

1 Saudi Arabian Mining Co. 3 Saudi Cement Co.

-1.4%

33.30

-1.8%

-0.9%

-1.2%

0.3%

-0.4%

-0.2%

0.0%

29.00

11.85

69.00

22.85

163.00 12.25

36.10

23.05

25.10

52.00

28.40

10,201

11.50

442,230

68.50

29,208

159.25

9,272

35.60

44,468

24.90

9,521

0.6%

184.75

183.25

34,532

-0.7%

104.00

102.50

420,108

-0.7%

13.80

13.65

33,289

24.45

82,829

18.70

1,760

-1.8%

33.90

-0.5%

1 Saudi Hollandi Bank

29.00

0.4%

29.00

28.20

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

21.75

-0.7%

21.90

21.65

16,013

17.85

122,597

34.80

6,232

36.50

3,645

5 Saudi Electricity Co.

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

13.70

24.60

-1.2%

18.75

-0.5%

17.95

-1.4%

96.25

25.50 19.05

18.20

95.50

6,803

95.75

788

42.00

-0.7%

42.40

41.90

67,408

102.50

-0.5%

103.00

102.00

3,302

50.00

0.4%

50.00

49.60

24,105

9.55

201,383

34.90

36.70

52.75 9.60

-0.6% 0.0%

-1.4%

-2.0%

35.20

36.80

53.75 9.80

52.50

32,286

357

32.90

31.90

17.20

72

40.00

30.00

40,390

13.60

6.20

37,895 425

12,532 58

1,239 381

13.85

22.90

13.10

50.75

11.10 7.05

35.10

12.0

1.8

92.8%

11,390,000

nmf

1.5

30.5%

27.4%

-11.5%

56.3%

48.6%

40.7% -6.5%

8,550,000

12,420,000

47,950,000

20,632,680 9,600,000

44,841,176

20,067,425

31.6 11.2 9.1

nmf

17.8 nmf

8.4

1.8 0.8

2.6

2.3

9.8

1.7

1.7

24.25

-11.2%

31.6%

20.7%

98.00

55.50

-2.3%

33.0%

68.0%

29.30

21.42

-1.0%

16.8%

14.1%

11,510,100

11.4

1.6

24.45

17.75

-11.0%

10.4%

-1.6%

7,975,000

10.8

1.5

15.50

-15.7%

16.30

37.50

3,321

27.20

93

21.00

21.30

12.85

18.55

15.55

1,601

42.60

33.00

32

106.75

63.25

483

83.25

20,825

34,804,688

46,800,000

2,429

608

2.8%

-6.3%

87.75

100

2.7

27.8%

36.7%

3.7

1.6

27.7

58.6%

14.9%

1.4

9,060,000

47.7%

82.7%

12.1

3.6

11.6%

23.10

112.00

178

63.2%

26,350,000

nmf

-8.4%

26.90

4,068

6,794

-29.1%

23.5

22,575,000

20,060,400

165.00

735

-7.6%

26,900,000

68.1%

82.3%

-3.0%

24.1% -6.9%

-1.5%

-3.1%

15.9

12.7%

14.3%

PB

117,375,000

49.0%

-3.8%

Trailing PE

1.3%

61.0%

52.1%

Market Cap. (SAR '000)

-22.1%

200.00

27

-8.2%

12 mths

-1.5%

187

71

YTD

67.25

16.25

654

on high

82.75

22,738 909

% Change

Low

1 Bank AlBilad

1 Bank Al Jazira

30.60

66.00

Volume ('000)

35.50

46.30

56.25

11.50

-7.2%

-7.9%

-8.3%

-16.0% -9.6%

-10.7%

7.1%

4.7%

6.8%

-1.4%

29.5%

16.1% 3.2%

-4.4%

3.8%

37,425,000

nmf

2.4

10.9

1.7

11.9

1.2

46,062,500

11.3

5.1

-8.1%

308,250,000

10.7

2.1

-1.1%

57,082,335

23.7

1.1

-9.6%

-1.6%

-3.2%

30,802,500

14,649,750

11,070,000 10,312,500

26,925,000

15.5

22.3

14.6 nmf

1.8

5.0

1.8 1.2

1.8

-1.4%

24.3%

14.4%

-4.0%

19.2%

60.2%

47.50

-39.9%

-28.6%

-14.5%

10,125,000

13.8

3.0

5.25

-16.5%

73.0%

38.1%

13,440,000

nmf

3.4

23.70

34.20

41.60

-1.7%

-20.7% -6.2%

21.6% -9.8%

19.9%

28.3%

-19.5%

1.9%

84,000,000

nmf

17,450,000

14,350,000

36,700,000

29,671,875

9.8

1.7

15.0

5.9

13.7

12.7 9.3

2.1

2.1

2.6

STOCKS WITH NBK CAPITAL

13

ALWATAN DAILY monday, april 30, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,337 (0.0%)

KSE General Index (% Chg.)

120

416 (-0.4%)

Advance/Decline Ratio

0.23 PCEM.KSE Kuwait Portland Cement Co. 6,523 / 5,694 AGLTY.KSEAgility

53%

% of stocks trading above 1yr avg. price

115

KSE General Index 52 week High / Low

113

467 / 396

KSE Weighted Index 52 week High / Low

110

42,617

Turnover (KWD '000)

Turnover (KWD) 3,580,600

N National Bank of Kuwait

3,039,550

B Boubyan Bank

1,005,950

1,423,400

K Kuwait Finance House

29-Mar-12

29-Apr-12

S&P GCC Large/Mid Composite

ALAFCO.KSAlafco Aviation Lease and Fin. Co.

#N/A

% Chg.

0.108

3.9%

0.300

1.7%

0.410

0.0%

0.880

#N/A

1.2%

#N/A

#N/A

Worst Performers

IFInternational Finance Co.

100

29-Feb-12

International Finance Co.

Highest Turnover

104

95 29-Jan-12

IFC.KSE

27,979,568

Market Cap. (KWD '000) 105

Close

KSE Weighted Index (% Chg.)

669,250

ZA Zain Kuwait

Close ZAIN.KSE Zain Kuwait TAM.KSE

% Chg.

0.730

Tamdeen Real Estate Co.

-2.7%

0.228

-2.6%

ALTIJARIA The Commercial Real Estate Co.

0.089

-2.2%

FACIL.KSE Commercial Facilities Co.

0.260

-1.9%

OULAFUELOula Fuel Marketing Co.

0.255

-1.9%

KSE Weighted Index

Quotes Company Name

Close

Daily % Chg.

High

A Agility

0.410

0.0%

T Al Themar Intl. Holding Co.

0.087

-

A AREF Energy Holding Co.

0.126

A Al Ahli Bank of Kuwait

0.590

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

B Boubyan Petrochemical Co. B Burgan Bank

-

-

-

-

0.104

0.079

0.657

0.590

0.590

1,006

1,705

0.620

0.530

-4.8%

0.435

-1.1%

0.435

0.435

131

300

0.524

0.410

-17.0%

1.680

0.0%

1.680

1.680

0.260

-1.9%

0.260

0.260

0.440

0.0%

0.440

0.440

0.395

-

-

-

-

0.102

3,581

0.620

0.0% -

-

0.0%

0.126

0.126

0.620

0.610

-

-

-

-

-

-

-

-

9

0.285

6

5

0.0%

0.285

0.450

0.0%

0.450

0.450

1.340

-1.5%

1.360

1.340

K Kuwait Finance House

0.730

0.0%

K Kuwait International Bank

0.265

-1.9%

K Kuwait Projects Co. (Holding)

0.320

0.0%

0.730 0.270

-

9

0.415

0.285

-

70

0.435

0.110

-

5

0.0%

1,423

0.265

298

0.320

29

0.630

0.530

0.420

0.198

-

0.495

0.285

-20.2%

20

0.485

0.120

-10.3%

20

0.295

10

0.096

0.236

0.610

0.415

1.060

0.0%

1.060

1.060

3,040

2,868

1.145

0.909

N National Industries Grp. Holding

0.224

-0.9%

0.224

0.222

476

2,140

0.285

N National Real Estate Co.

0.128

-1.5%

0.130

0.128

10

80

0.168

0.214

-0.9%

0.214

210

0.106

60

0.089

50

N National Investments Company O Oula Fuel Marketing Co.

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

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

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

0.146 0.255

-1.9%

0.148

-

0.255

0.255

0.214

0.246

159

0.228

-2.6%

0.228

0.228

14

0.130

-

0.108 0.089

0.730

0.0%

-2.2% -1.6%

-2.7%

0.108

0.089 -

-

2.460

2.420

0.740

0.730

-

0.285

10

0.360

980

0.226

60

0.270

0.216

560

0.136

560 -

200 669

0.097 -

20.1

1.9

-9.5%

-14.1%

83

2.480

905

75,041

286,945

35.2

3.9%

-22.1%

274,892

25.4

10.3%

-20.0%

427,704

538,683

-40.5%

0.0%

41.0%

611,189

29.4

4.2

-7.4%

4,614,707

15.2

2.0

-20.0%

290,102

nmf

0.8

-15.1%

-47.9%

21,780

105,592

0.0%

18.3%

-

0.7

2.3

0.1

24.9

1.4

nmf

0.7

nmf

0.6

88,277

21.7

2.1

18.3%

126,130

17.6

1.0

-15.6%

85,071

22.2

0.9

88,400

nmf

3.9%

235,400

-11.5%

0.067

-8.2%

15.6%

21.9%

62,514

163,298

-2.4%

24.7%

19.8%

1,219,759

0.0%

-18.9%

14.2

127,927

18.5%

-13.6%

-39.2%

1.8

1.3

1.3

-10.3%

0.0%

1.2

11.2

31.5

8.9%

-0.9%

0.9

79,996

0.0%

0.0%

0.8

nmf

2,120,040

-10.0%

0.690

nmf

-27.0%

-20.6%

1.880

1.200

5.6%

-15.0%

0.0%

3.7

-28.6%

16.8%

86,711

0.093

-

1.5

-2.2%

-57.6%

-29.2%

-15.6%

7.3

4.1

0.0%

-5.3%

264,513

3.1

10.0

-23.8%

0.186

nmf

105,270

0.056

0.200

2.7

1.9

262.5%

5.9%

-13.8%

0.246

0.9

-4.4%

-21.4%

640

9.8

0.9

0.192

0.255

139,559

16.8

4.1%

-48.8%

4.0

nmf

141,000

-7.4%

0.144

16.4

20.5%

27.9%

-10.3%

1.5

162,339

nmf

-2.0%

0.260

1.0

179,283

23.9%

0.0%

35.5

-4.8%

-41.3%

-

0.340

460

3

0.255

-

-

67

0.144

0.0%

0.246

2.420

Z Zain Kuwait

0.0%

-

-

0.660

51,987

13.3

-16.8%

-20.0%

1.500

1.2

64,309

-25.0%

1.4

34.3

37.8

0.281

15

-17.3%

4.2

nmf

1,158,558

0.400

0.691

-

-26.2%

0.0%

nmf

-19.0%

90

1.020

-

0.0%

1.0

1.5

300,762

1,004,898

-31.6%

1.8

5.9

-9.5%

-24.3%

68

0.305

-3.4%

-9.4%

0.5

19.6

94,500

5.1%

0.0%

0.236

1.340

67

N National Industries Co.

-55.4%

6.8%

6.3%

0.350

1.620

0.990

-

672,061

1,120

55

1.000

-

-17.0%

-12.4%

0.0%

-

-3.8%

-27.0%

1.000

-

1,031,459

0.720

13

0.033

-3.3%

1.000

0.840

N National Bank of Kuwait

0.0%

1,950

0.880

0.320

233,931

10.6%

-12.2%

0.242

20

-18.9%

-11.3%

0.138

892,811

-4.8%

-25.0%

0.214

1.2%

0.880

-10.9%

-20.3%

1.240

nmf

-15.1%

0.425

1.680

88,088

0.0%

0.552

8

-16.3%

-3.3%

-16.0%

-30.7%

0.019

-4.4%

-6.2%

-47.2%

0.255

0.055

15.9

17.0%

0.375

PB

429,203

-41.0%

20

PE

-3.5%

10.7%

-13.6%

Trailing

Market Cap. (KWD '000)

9.3%

-1.6%

1.300 0.700

12 mths

18.9%

1.945

0.940

YTD

-4.5%

10

33,760

74

0.085

160

4

0.720

0.132

1,010

17

0.435

3.9%

1.240

100

616

JAJazeera Airways

0.108

1.260

13

0.188

M Mena Holding

-16.3%

0.590

-1.6%

0.188

M Mabanee Co.

-10.2%

0.0%

0.590

0.0%

P Kuwait Portland Cement Co.

-4.7%

-20.0%

0.188

F Kuwait Food Co.

0.248

0.280

IK Ikarus Petroleum Industries Co.

K Kuwait Cement Co.

0.430

0.375

1.260

K KIPCO Asset Management Co.

140 -

C Gulf Cable and Electrical Industries Co.

IF International Finance Co.

on high

250

0.049

IF IFA Hotels & Resorts

% Change

Low

74

0.790

G Gulf Bank

-

-

57

High

0.295

C Commercial Bank of Kuwait G Global Investment House

0.410

52-Week

Volume ('000)

0.300

0.248

F Commercial Facilities Co.

0.410

Turnover (KWD '000)

1.7%

0.300

A Burgan Co. for Well Drilling

C Combined Grp Contracting Co.

-

Low

-39.2%

3,144,500

13.0

1.1

nmf

1.6

15.5

0.7

7.0

3.4

1.5

11.0

1.5

UAE Rebased Performance

Summary

Best Performers 1,639 (-0.8%)

DFM Index (% Chg.)

125

2,512 (0.2%)

ADSM Index (% Chg.)

64% UPP.DFM Union Properties 0.70 ADCB.ADS Abu Dhabi Commercial Bank 1,754 / 1,301 SOROUH.A Sorouh Real Estate Co.

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

118 115

DFM Index 52 week High / Low

2,775 / 2,293 DU.DFM

ADSM Index 52 week High / Low

113

Close ALDAR.AD ALDAR Properties

344,644

Turnover (AED '000)

Highest Turnover 103

S&P GCC Large/Mid Composite

29-Mar-12

A Arabtec Holding

Abu Dhabi SE

19,239,088

S Sorouh Real Estate Co.

29-Apr-12

1.9%

3.20

0.3%

2.0%

1.8%

Worst Performers

A ALDAR Properties 29-Feb-12

3.28

1.15

du

Turnover (AED) 63,894,217 NBQ.ADSM National Bank of Umm Al Qaiwain 59,622,792 GCEM.ADS Gulf Cement Co. 30,192,245 ARTC.DFM Arabtec Holding

E Emaar Properties

95 29-Jan-12

4.4%

0.46

398,763,642

Market Cap. (AED '000)

105

% Chg.

1.18

18,331,556

TATamweel

Close

% Chg.

1.76

-9.3%

3.43

-4.7%

1.03

DANA.ADS Dana Gas

0.46

DEYAAR.D Deyaar Development Co.

0.37

-5.5% -2.1% -1.9%

Dubai FM

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (AED '000)

A Abu Dhabi Commercial Bank

3.28

1.9%

3.30

3.23

5,554

T Abu Dhabi National Energy Co.

1.25

-0.8%

1.27

1.14

A Air Arabia

0.60

-1.0%

0.61

0.60

A Abu Dhabi Islamic Bank

A Abu Dhabi National Hotels A ALDAR Properties

3.18

2.00

-

3.25 -

D du

0.37

3.20

252

1.46

1.14

1,755

2,912

-

-6.9%

-40.9%

-2.1%

0.47

0.45

2.2%

-32.4%

-

-1.9%

0.3%

0.39

3.23

0.37

3.18

1,044 2,091

12,172

1.17

1.12

19,239

-

-

-

95

-

8,383

2,749 653

10,667 -

-

1.96

0.46

0.20

-18.5%

74.2%

3.63

2.26

1.88

-11.9%

4.63

2.65

-39.1%

0.67

-31.3%

8.79 9.09

8.65 9.00

12,422 1,169

1,422 130

11.20 10.75

-

0.0%

-1.7%

0.46

2.0%

-

-

-

-

0.91 1.25 -

0.46 -

1.03 -

-

0.88

-

15

-

52

1.18

18,332

0.45

1,119

-

-

-

-

15

224 -

240 57

-11.8%

-16.3%

0.0% 0.2%

1.03

2.80

-33.3%

0.68

3.30

-

0.34

1.35

18,147 20

2.2%

-3.3%

59,623 57

-6.1%

0.0%

-17.5%

3.26

2.81

1.69

0.0%

2.67

0.69

3.33

2.88

-

3.24

0.3%

1.19

3.95

-

1.13

-

3,859

1.8%

-

1.16

-

1.15

* Closing Prices, Turnover and Market Cap. in USD

0.0%

-

422

U United Arab Bank

2,000,000

-18.8%

-39.4%

1.76

U Union Properties

-31.0%

2.7%

0.71

1.76

3.00

-9.1%

-20.3%

1.55

-9.3%

U Union National Bank

-31.0%

0.57

8

173

1.76

T Tamweel

1.98

0.76

7

1.80

1,946

S Sorouh Real Estate Co.

10.4

2.90

0.94

1.84

8.67

0.90

2,809,353

-

0.94

0.0%

8.75

S Sharjah Islamic Bank

1.0

-1.1%

0.0%

N National Bank of Umm Al Qaiwain

11.9

139.9%

8.70 4.51

7,781,250

115.7%

-5.5%

N National Bank of Fujairah

-17.8%

7,519,765

-5.5%

1.03

N National Bank of Abu Dhabi

4.2%

-3.0%

1.24

-1.1%

91.45

-14.4%

0.6%

3.63

2.82

M Mashreq

0.8

-10.4%

17,946

-

E Emirates NBD

G Gulf Cement Co.

5.6

63,894

-

1.99

8.74 9.01

18,353,559

3.43

-

D Dubai Islamic Bank

E Etisalat F First Gulf Bank

2.92

12.3%

3.67

-

1.13

3.26

3.55

18.0%

4,820,452

D Dubai Financial Market

E Emaar Properties

42

1.50

2.41

8.57 6.98

102.00

74.70

4.70

3.00

1.02

0.80

9.00 2.24

7.38

10.7%

-29.5%

45.1%

-25.9%

-4.3% 16.6%

-10.3%

-9.9%

7.3%

-0.9%

nmf

1.0

2,693,944

0.9

2,143,638

nmf

0.6

14,628,571

13.3

9,040,000 7,556,137

1.8 1.0

22.4%

845,730 -

4.4%

33,708,658 2,816,000

8.9%

1.1%

2.82

-23.1%

3.8%

-16.7%

7,486,875

8.5%

-12.2%

-

4.50

3.28

-12.2%

77.9%

12.0%

8.3

0.9

2.4

0.5

9.0

0.5

4.9

0.7

1,190,000

12.8

1,545,387

nmf

3,935,785

0.7

1.3

1.2

8.3

3.90

0.5

8.8

2,182,950

-

-7.3%

nmf

18.8 17.7

3,018,750

20.2%

8.9

4,961,000

-19.0%

0.24

0.8

11.9 7.2

35.3%

0.50

1.2

69,099,664 27,030,000

15,672,925

-21.2%

2,452

7.5

2.4

-15.6% -1.0%

0.67

97.3%

nmf

0.4

0.6

-8.3%

-20.1%

6.0

11.1

-2.8%

0.53

1.4

6.8

3,036,921

1.46 1.49

12.7

1.1

19,857,438

-21.4%

7.1%

1,645,000

nmf

-0.9%

1.63

-11.8%

1.7

-1.8%

-4.1%

-22.0% -16.2%

0.5

20.2

1,530,000

20.1%

-10.8%

0.2

5,127,850

5,442,400

2.6%

8.0

1.1

0.7

-8.1%

-17.5%

26.8%

-3.3%

-2.6%

34.5%

-1.2%

-4.0%

0.0%

6.5

7.5

16,705 15,106

PB

-1.2%

-22.9%

0.46

D Deyaar Development Co.

314

135

PE

28.3%

D Dana Gas

2.67

2.69

Trailing

Market Cap. (AED '000)

-25.8%

0.94

C Commercial Bank of Dubai

3.32

12 mths

0.76

A Arkan Building Materials Co.

1.84

1,694

YTD

1.59

-4.7%

A Aramex

on high

25,680

3.43

1.02

-

% Change

Low

30,192

1.20

A Arabtec Holding

3.16

High

1.15

4.4%

A Amlak Finance

1.18

0.0%

52-Week

Volume ('000)

11.4

0.5 0.6

2.0

STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY monday, april 30, 2012

QATAR Rebased Performance

Summary

Best Performers 8,688 (0.3%)

DSM Index (% Chg.)

120

Advance/Decline Ratio Turnover (QAR '000)

110

456,674,440

Market Cap. (QAR '000)

103

Q Qatar Telecom

29-Mar-12

S&P GCC Large/Mid Composite

17,986,422

C The Commercial Bank of Qatar

29-Apr-12

19.40

2.1%

2.3%

143.00

Turnover (QAR) 28,504,053 QNNS.DSMQatar Navigation 23,230,179 CBQK.DSMThe Commercial Bank of Qatar 23,181,622 DHBK.DSMDoha Bank

B Barwa Real Estate Co.

29-Feb-12

2.4%

2.0%

Worst Performers

IQIndustries Qatar

90 29-Jan-12

2.6%

138.00 8.50

QEWS.DSMQatar Electricity & Water Co.

Highest Turnover

100

% Chg.

28.10

8,892 / 8,071 VFQS.DSM Vodafone Qatar 368,578 ERES.DSMEzdan Real Estate Co.

DSM 52 week High / Low

113

Close

39% BRES.DSMBarwa Real Estate Co. 1.50 QTEL.DSM Qatar Telecom

% of stocks trading above 1yr avg. price

11,430,005

MMasraf Al Rayan

Close

% Chg.

69.00

-1.4%

58.10

-0.9%

71.60

MARK.DSMMasraf Al Rayan

-1.0%

26.70

QGTS.DSMQatar Gas Transport Co.

-0.7%

16.50

-0.4%

Doha SM

Quotes Company Name A Aamal Co.

Close 17.49

Daily % Chg.

High

0.2%

K Al Khalij Commercial Bank

16.40

C The Commercial Bank of Qatar

71.60

-1.0%

E Ezdan Real Estate Co.

19.40

2.1%

B Barwa Real Estate Co. D Doha Bank

28.10 58.10

IQIndustries Qatar

146.20

Q Qatar Electricity & Water Co.

143.00

M Masraf Al Rayan

Q Qatar Gas Transport Co.

Q Qatar International Islamic Bank Q Qatar Islamic Bank

-0.9%

27.40

23,230

28.15 72.00

58.50

57.70

4,532

19.95

71.20

17,986

19.24

479

2.0%

143.00

140.10

6,718

-0.2%

50.80

50.40

1,830

0.1%

26.95

16.60

77.60

26.55

11,430

16.46

8,500

77.00

2,286

69.00

1,749

0.2%

133.90

133.10

4,760

2.4%

139.00

134.50

23,182

69.00

-1.4%

8.50

2.3%

69.30 8.55

Volume ('000)

885

16.33

28,504

77.40

138.00

2,046

144.80

-0.4%

Q Qatar Telecom

16.40

17.00

146.20

16.50

50.50

17.55

0.6%

-0.7%

133.50

V Vodafone Qatar

2.6%

26.70

Q Qatar National Bank Q Qatar Navigation

0.0%

Turnover (QAR '000)

Low

% Change

Low

on high

118

21.90

14.00

-20.1%

831

33.25

27.40

-15.5%

50.00

-13.3%

54

251 78

24

18.01

16.06

85.50

67.00

24.97

-9.4%

12.4%

12,009,142

9.5

1.8

-10.9%

76.30

-9.3%

-8.2%

-21.1%

36

141.73

122.73

169

284.77

127.70

-3.4%

-10.1% -5.8%

69.00

9.22

0.9

-5.8%

45.50

954

9.0

-11.4%

56.20

87.50

10,934,402

16.47

36

25

-15.2%

15.7%

22.50

85.30

-6.2%

-8.9%

-4.1%

129.50

30

1.6

-4.5%

-5.0%

148.00

-51.5%

7.24

-7.8%

PB

19.4

-16.4%

47

Trailing PE

9,523,305

-12.6%

-1.5%

Market Cap. (QAR '000)

5.6%

-22.3%

118.80

18.63

21.0%

12 mths

-14.8%

18.60

28.10

YTD

-16.3%

148.50

515

-8.9%

68.00

195

426

8,034

8.20

52-Week High

9.9% 2.4%

5,904,000

-2.2%

12.1

17,717,160 51,458,436

-0.7%

1.1

9.3

1.3

nmf

1.9

80,410,000

10.4

3.3

-3.0%

14,300,000

10.5

4.7

7.0%

7,644,122

20,025,000

14.0

2.4

9,138,426

11.1

4.7

-3.9%

18,289,094

12.8

1.7

-9.8%

-19.3%

7,902,239

11.2

12.6%

6.8%

7,185,900

nmf

-6.5% -3.4%

-42.0%

7.6%

93,413,880

-48.2%

24,288,000

11.4

1.7

12.0

2.3

0.7

9.4

1.2

1.1

OMAN Rebased Performance

Summary

Best Performers 5,871 (0.5%)

MSM Index (% Chg.)

120

42% RCCI.MSM Raysut Cement Co.

% of stocks trading above 1yr avg. price

1.33

Advance/Decline Ratio Turnover (OMR '000)

110

OTEL.MSMOman Telecommunications Co.

6,372 / 5,419 OCOI.MSM Oman Cement Co. 5,096 BKMB.MSMBank Muscat

MSM 52 week High / Low

113

Close

6,983,571

Market Cap (OMR '000)

% Chg.

1.12

7.1%

0.63

0.8%

1.30

1.0%

0.62

BKDB.MSMBank Dhofar

0.7%

0.44

-0.2%

105

Highest Turnover

100

Worst Performers Turnover (OMR) 922,943 NBOB.MSMNational Bank of Oman 682,893 RNSS.MSMRenaissance Services

O Oman Telecommunications Co. R Raysut Cement Co.

479,431

B Bank Muscat

90 29-Jan-12

29-Feb-12

29-Mar-12

29-Apr-12

S&P GCC Large/Mid Composite

286,966

O Oman Cement Co.

110,205

R Renaissance Services

Close

% Chg.

0.30

-1.0%

0.44

-0.2%

0.64

BKDB.MSMBank Dhofar

BKMB.MSMBank Muscat

-0.3%

0.62

OCOI.MSM Oman Cement Co.

0.7%

0.63

0.8%

Muscat SM

Quotes Company Name

Close

Daily % Chg.

High

B Bank Dhofar

0.444

-0.2%

N National Bank of Oman

0.295

-1.0%

O Oman Telecommunications Co.

1.298

1.0%

R Renaissance Services

0.637

B Bank Muscat

0.623

O Oman Cement Co.

R Raysut Cement Co.

0.625 1.122

Turnover (OMR '000)

Low

0.445

6

0.441

0.7%

0.626

0.620

479

0.8%

0.632

0.620

287

1.060

683

7.1%

-0.3%

0.297

1.152

0.641

13

81

0.292

1.308

Volume ('000)

1.286

923

0.630

110

52-Week High

% Change

Low

0.549

on high

0.423

-19.1%

0.291

-9.0%

769

0.679

0.572

459

0.629

0.416

273 712 609

173

0.324 1.425

1.041

1.122

0.458

-17.8%

-5.4%

-3.0%

-6.5%

-0.6%

44.7%

0.0%

47.6%

-39.5%

12 mths

-2.4%

-8.2%

-8.9%

0.711

1.053

YTD

Market Cap. (OMR '000)

326,867

9.1

5.9%

16.9%

-39.3%

2.1

9.1

1.3

206,795

16.2

1.4

224,400

15.0

2.2

973,500

2.3%

PB

12.2

1,119,402

16.5%

PE

488,452

-7.2%

-0.8%

Trailing

179,694

1.2

8.7

2.0

nmf

1.1

BAHRAIN Rebased Performance

Summary

Best Performers 1,149 (0.3%)

BSE Index (% Chg.)

120

Advance/Decline Ratio

1,406 / 1,129

BSE 52 week High / Low

113

126

Turnover (BHD '000)

110

6,492,882

Market Cap. (BHD '000)

100

#N/A

#N/A

#N/A

B BBK

#

29-Apr-12 Bahrain SE

#

9.7%

0.40

#N/A

0.0%

#N/A

#N/A

#N/A

#N/A

#N/A

Turnover (BHD) 36,445 BBK.BSE BBK 10,000 ITHMR.BSE Ithmaar Bank

A Ahli United Bank

29-Feb-12 29-Mar-12 S&P GCC Large/Mid Composite

#N/A

% Chg.

0.17

#N/A

Worst Performers

IT Ithmaar Bank

90 29-Jan-12

#N/A

Highest Turnover

101

Close

37% ITHMR.BSE Ithmaar Bank - BBK.BSE BBK

% of stocks trading above 1 yr avg. price

#N/A

#N/A

-

#N/A

#N/A

#N/A

AUB.BSE #N/A

Close

% Chg.

0.40

0.17

Ahli United Bank

0.62 -

#N/A

#N/A

#N/A

#N/A

0.0%

9.7% #N/A

#N/A

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (BHD '000)

A Ahli United Bank*

0.615

-

-

-

-

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

0.460

-

-

-

-

-

-

0.400

0.0%

0.400

0.400

0.170

9.7%

0.170

0.160

0.260

-

-

-

797

0.545

-

-

-

-

-

Volume ('000)

0.680

0.599

-

0.530

0.420

1.063

-

97

% Change

Low

-

10

52-Week High

-

0.116 0.486

-26.3%

1,305,854

-5.0%

662,400

0.082

-24.1%

-2.2%

-24.1%

0.380

0.165

0.065

-

0.424

0.260

0.600

3,217,783

-12.5%

0.390 797

0.545

-20.8%

0.0%

Market Cap. (BHD '000)

-9.0%

-0.4%

587 -

2.0%

12 mths

-12.5%

0.426 797

-9.6%

YTD

0.857

25

-

on high

943,212

nmf

0.8

340,542

10.6

0.0%

-30.0%

637,391

-5.2%

-8.4%

466,171

0.0%

-9.2%

-38.7%

0.0%

-13.3%

0.0%

-36.0%

1.3

82,691

0.0%

-6.1%

10.2

0.8

17.3% -3.4%

PB 8.0

-5.4%

-6.1%

Trailing PE

455,099

216,986

6.2

0.4

8.4

1.3

4.5

0.6

10.1

1.7

nmf

nmf

1.4 0.8 1.0

LIFE

Having Signs of Newborn Jaundice Jaundice in newborn babies occurs when a yellow pigment called bilirubin builds up in the blood. The pigment is a normal byproduct of the body’s destruction of old red blood cells. Removal of bilirubin is the liver’s job.

Symptoms of jaundice often include yellowed skin and eyes.

Other symptoms of jaundice include having a sibling who required light therapy to treat jaundice, high levels of bilirubin in the blood, being fed only breast milk, especially for a large baby, having a red blood cell disease and being of East Asian ancestry.

monDAY, april 30, 2012

Tiny folds can boost performance of solar cells NEW YORK: Microscopic folds increase the power output of flexible, cheap solar cells, a new study finds according to LiveScience. Scientists drew inspiration from leaves to design tiny folds on the surfaces of photovoltaic materials.

The team, led by scientists from Princeton University, reported online April 22 in the journal Nature Photonics that the folds resulted in a 47 percent increase in electricity generation. Yueh-Lin (Lynn) Loo, the principal investigator, said the finely calibrated folds on the surface of the panels channel light waves and increase the photovoltaic material’s exposure to light.

“On a flat surface, the light either is absorbed or it bounces back,” said Loo, a professor of chemical and biological engineering at Princeton. “By adding these curves, we create a kind of wave guide. And that leads to a greater chance of the light’s being absorbed.”

The research team’s work involves photovoltaic systems made of relatively cheap plastic. Current solar panels are typically made of silicon, which is both more brittle and more expensive than plastics. So far, plastic panels have not been practical for widespread use because their energy production has been too low. But researchers have been working to increase that efficiency with the goal of creating a cheap, tough and flexible source of solar power.

If researchers can increase the plastic panels’ efficiency, the material could produce power from an array of surfaces from inserts in window panels to overlays on exterior walls or backpacks. “It is flexible, bendable, light weight and low cost,” Loo said.

In most cases, researchers have focused on increasing the efficiency of the plastic photovoltaic material itself. Recent developments have been promising: a team from UCLA recently announced a system with a 10.6 percent efficiency.

That approaches the 10 to 15 percent level seen as the target for commercial development.

Loo said the folding method promises to increase those numbers. Because the technique works with most types of plastic photovoltaic materials, it should provide a boost to efficiency across the board.

Rain quicker to arrive and dry up during global warming NEW YORK: Global warming is revving up the planet’s cycle of evaporation and precipitation, making wet places even wetter and dry places dryer, a new study suggests according to LiveScience.

A team of researchers found the intensity of the water cycle increased roughly 4 percent over the last half of the 20th century by examining changes in the ocean’s salt content.

This means more movement of water between the locations where it’s stored, such as the atmosphere, oceans and lakes. Their results indicate that as a result, salty places are becoming saltier due to more evaporation, while fresh places are becoming fresher due to more precipitation.

During the study period, from 1950 to 2000, global surface temperatures rose 0.9 degrees F (0.5 degrees Celsius). “There are all of these independent lines of evidence that climate is actually changing. What this result provides us with is another piece of the puzzle,” said study researcher Paul Durack, a postdoctoral researcher at Lawrence Livermore National Laboratory.

Not only was the shift in the water cycle observable - with spatial patterns of evaporation and rainfall intensifying over the world’s oceans - but the observations agreed with theoretical expectations for how climate change would affect the water cycle, he said.

An ocean gauge

When looking at how water cycles through the environment - falling as rain or snow, then evaporating, then eventually cycling back as precipitation - it makes sense to look at the oceans. They occupy 71 percent of the planet’s surface, and an even larger share of evaporation and precipitation takes place over them. “The oceans are where all of the action is happening,” Durack said.

The ocean surface’s salinity, or salt content, increases with evaporation and decreases when more rain falls into the water, serving as a sort of gauge for large-scale patterns. These changes don’t last forever; over long periods, ocean circulation driven by winds and large-scale currents redistributes the salt. For more than a century, scientists have been recording ocean salinity, which is measured by looking at water’s ability to conduct electricity.

Since salt is composed of charged atoms, called ions, its presence enhances electrical conductance.

In the last decade, a network of floating sensors, called Argo, that collect data from different depths has greatly increased the information available to scientists. Research ships also continue to contribute measurements, according to Durack.

Computer models that make climate-change projections produce more conservative estimates of shifts in the water cycle than those observed, but the models appear to be correctly capturing the nature of the changes, Durack said.

The team’s analysis reveals changes over a large geographic scale over the oceans; they expect to see similar changes over the continents. On a smaller scale, however, these changes are expected to become much more complex.

“What is the more interesting question is how regionally those changes will happen,” Durack said. “No one actually experiences global mean rainfall; what we experience is our own regional change in rainfall.”

FILE - Scientists drew inspiration from leaves to design tiny folds on the surfaces of photovoltaic materials. (Agencies)

“This is a very simple process that you can use with any material,” she said. “We have tested it with other polymers and it works as well.”

Jong Bok Kim, a postdoctoral researcher in chemical and biological engineering and the paper’s lead author, explained in the Nature Photonics paper that the folds on the surface of the panels channel light waves through the material in much

the same way that canals guide water through farmland. By curving the light through the material, the researchers essentially trap the light inside the photovoltaic material for a longer time, which leads to greater absorption of light and generation of energy.

Although the technique results in an overall increase in efficiency, the results were particularly significant at the red

side of the light spectrum, which has the longest wavelengths of visible light. The efficiency of conventional solar panels drops off radically as light’s wavelength increases, and almost no light is absorbed as the spectrum approaches the infrared.

But the folding technique increased absorption at this end of the spectrum by roughly 600 percent, the researchers found.

“If you look at the solar spectrum, there is a lot of sunlight out there that we are wasting,” Loo said. “This is a way to increase efficiency.”

The research team created the folded surface in Howard Stone’s laboratory in the mechanical and aerospace engineering department by carefully curing a layer of liquid photographic adhesive with ultraviolet light. By controlling how fast different sections of the adhesive cured, the team was able to introduce stresses in the material and generate ripples in the surface. The shallower ripples were classified as wrinkles and the deeper ones are called folds. The team found that a surface containing a combination of wrinkles and folds produced the best results.

Although the math underlying the process is complex, the actual production is straightforward. Loo said it would be quite practical for industrial purposes.

“Everything hinges on the fact that you can reproduce the wrinkles and folds,” Loo said. “By controlling the stresses, we can introduce more or fewer wrinkles and folds.”

Another benefit of the process is that it increases the durability of the solar panels by relieving mechanical stresses from bending. The researchers found the panels with folded surfaces were able to retain their effectiveness after bending.

A standard plastic panel’s energy production would be diminished by 70 percent after undergoing bending.

Loo said the researchers drew their inspiration from leaves. Seemingly a simple object, the leaf is a miracle of natural engineering. Its green surface is perfectly constructed to bend and control light to ensure that a maximum amount of solar energy is absorbed to create energy and nutrients for the tree. Recent work by Pilnam Kim, a postdoctoral researcher in Stone’s lab, provided insight into how these microscopic structures could be applied to synthetic devices.

Pacific reef sharks vanishing near populated islands NEW YORK: As many as 90 percent of reef sharks have disappeared from reefs near populated islands, a new study finds according to LiveScience. The research is the first to provide a large-scale estimate of reef sharks in the Pacific, a group of species that includes the gray reef shark, the whitetip reef shark and the tawny nurse shark.

“We estimate that reef shark numbers have dropped substantially around populated islands, generally by more than 90 percent compared to those at the most untouched reefs,” said study leader Marc Nadon, a doctoral candidate at the University of Miami’s Rosenstiel School of Marine & Atmospheric Science. “In short, people

and sharks don’t mix.”

Nadon and his colleagues pulled shark sighting data from more than 1,607 dives at 46 reefs in the central-western Pacific, which included reefs near the Hawaiian islands and American Samoa as well as extremely isolated reefs nearly devoid of human influence. Though eight species of shark were seen on the dives, the researchers excluded sharks, such as hammerheads, that aren’t dependent on reefs. That left them with five shark species to tally: gray reef sharks, blacktip reef sharks, whitetip reef sharks, Galapagos sharks and tawny nurse sharks.

Combining that data with information on human population, habitat complexity, avail-

ability of food and sea-surface temperatures, the researchers created models comparing the numbers of sharks at pristine versus humanimpacted reefs.

“Around each of the heavily populated areas we surveyed - in the main Hawaiian Islands, the Mariana Archipelago, and American Samoa - reef shark numbers were greatly depressed compared to reefs in the same regions that were simply [farther] away from humans.” Nadon said in a statement. “We estimate that less than 10 percent of the baseline numbers remain in these areas.”

The devastation of sharks in areas near human civilization could be the result of illegal

fishing, incidental killing or fishing for sport, the researchers report in the journal Conservation Biology. Human impact on the reef fish that sharks call dinner could also play a role. Human influences were shown to outweigh natural influences, such as warmer water temperatures, the researchers found.

“Our findings underscore the importance of long-term monitoring across gradients of human impacts, biogeographic, and oceanic conditions, for understanding how humans are altering our oceans,” said Rusty Brainard, head of the coral reef ecosystem division at NOAA’s Pacific Islands Fisheries Science Center, which conducted the shark surveys.

Kuwait celebrates World Malaria Day Dr. Ali Sher Malaria Laboratory, Department of Public Health, Ministry of Health, Kuwait

KUWAIT: World Malaria Day was instituted by the World Health Assembly at its 60th session in May 2007. It is a day for recognizing the global effort to provide effective control of malaria and an opportunity for countries in the affected regions to learn from each other’s experiences and support each other’s efforts, for new donors to join a global partnership against malaria, for research and academic institutions to share their scientific advances to both experts and general public, for international partners, companies and foundations to showcase their efforts to control malaria.

The slogan of this year’s World Malaria Day 2012 is “Sustain Gains, Save Lives and Invest in Malaria”. The International malaria community has just over 245 days left to meet the 2012 targets of delivering effective and affordable protection and treatment to all people at risk of malaria, reducing the number of preventable deaths to near zero and eliminating malaria by 2015 and achieving the Millennium Development Goals decided by the World Health organization.

World Malaria Day represents a chance for all of us to make a difference, whether, a government, a company, a charity, or an individual, everyone can roll back malaria and help to generate broad gains in multiple areas of health and human development. Reducing the impact of malaria would significantly enhance the efforts to achieve the Millennium Development Goals as agreed by every member of the United Nations.

The goal is not only combating the disease itself but also to save the lives of thousands of pregnant women and children below the age of five years.

Malaria is a mosquito-borne disease and approximately half of the world’s population in 99 countries is at risk of malaria, particularly those living in lower income areas or poor countries, since malaria is known as the disease of the poor. Malaria is a serious problem in Africa, where one in every five childhood deaths is due to malaria. An African child has on an average between 1.6 to 5.4 episodes of malaria fever each year and every 30 seconds a child dies from malaria.

There were 216 million cases of malaria reported in 2010 (81% in African region) with 655, 000 malaria deaths (91% in African region). Approximately 86% of malaria deaths

FILE - East Timorese wait to be seen by Dr. Dan Murphy of the United States at the Bairo Pite Clinic March 21, 2012 in Dili, East Timor. (AFP)

globally were of children under 5 years of age.

The estimated incidence of malaria globally has reduced by 17% since 2000 and malariaspecific mortality rates by 26%. These rates of decline are lower than internationally agreed targets for 2010 (reductions of 50%) but nonetheless, they represent a major achievement.

Malaria has been and still is the cause of much human morbidity and mortality. Although the disease has been eradicated in most temperate zones but still endemic in much of the tropics and subtropics. Malaria epidemics have devastated large populations and poses a serious barrier to economic progress in many developing countries. Recently the malaria is reintroduced in Greece due to negligence of surveillance and may be due to global warming.

There were 8 countries in the pre-elimination stage of malaria control in 2011 and 9 countries are implementing elimination programs nationwide. Further, these 8 countries (Bahamas, Egypt, Georgia, Iraq, Jamaica, Oman, Russian Federation, and Syrian Arab Republic) have interrupted transmission and are in the prevention of reintroduction phase.

Armenia was certified as free of malaria by the WHO Director-General in 2011.

The International funding for malaria control has continued to rise in seven years from US$ 0.3 billion to US$ 2.0 billion in 2011. The amounts required is still short to reach malaria control targets which is estimated about US$ 5 billion per year for the years 2010-2015.

The financing provided for malaria control has enabled endemic countries to greatly increase access to insecticide-treated mosquito nets (ITNs); the percentage of households owning at least one ITN in sub-Saharan Africa is estimated to have risen from 3% in 2000 to 50% in 2011 while the percentage protected by indoor residual spraying (IRS) rose from 5% in 2005 to 11% in 2010. The number of rapid diagnostic tests (RDTs) and artemisinin-based combination therapies (ACTs) are increasing and the percentage of reported suspected cases receiving a parasitological test has also increased from 67% globally in 2005 to 76% in 2010 with the largest increase in sub-Saharan Africa. Despite this significant progress, however, more work is needed before the target of universal access is attained.

All the Gulf Cooperation Countries (GCC) are free from malaria except Saudi Arabia where Plasmodium falciparum is the main species. Malaria is still endemic in parts of this area, especially in its southern region (Jazan).

The continuous importation of malaria from Yemen to this area is a challenge for the elimination of malaria in this region.

No local transmission of malaria has been reported in Kuwait but it is very vulnerable for local transmission due to the presence of Anopheles mosquitoes. The Medical Center for Labour Examination, Department of Public Health is screening all the new immigrants for six infectious diseases and one of them is also the malaria.

All the new immigrants coming from malaria endemic countries are screened in Malaria Laboratory and all malaria infected individuals are treated in Infectious Diseases Hospitals and then followed by the Preventive Health Section of the area clinics for radical treatment. The total number of imported cases of malaria are reduced tremendously in Kuwait from 1,400 in 2002 to 476 in 2011.

The 2010 was an important year in achieving the goals and targets for malaria control.

In the light of progress made by 2010 the targets for the Global Malaria Action Plan (GMAP) of the Roll Back Malaria Partnership were updated in June 2011 and the following strategy was adopted: 1. The year 2010 was the date set to achieve universal coverage for all populations at risk of malaria using locally appropriate interventions for prevention and case management, and to reduce the malaria burden by at least 50% compared to the levels in the year 2000. 2. The targets are now to: (i) reduce global malaria deaths to near zero by the end of 2015 (ii) reduce the global malaria cases by 75% from 2000 levels by the end of 2015and (iii) eliminate malaria by the end of 2015 in 10 new countries since 2008, including in the WHO European Region.

These targets will be met by (a) achieving and sustaining universal access by utilization of preventive measures (b) achieving universal access to case management in the public and private sectors and in the community by accelerating the development of surveillance systems.

To sustain gains, save lives and invest in malaria every individual has to join the World’s largest international effort to end the sickness and deaths due to malaria and make the lives of the every man, woman and child safe by collective effort to eliminate malaria by 2015.

16

ALWATAN DAILY

CULTURE

monDAY, april 30, 2012

‘Relevant, essential and functional best describe Giordano products’: Ishwar Chugani Ricky Laxa Staff Writer

KUWAIT: Founded in Hong Kong in 1981, Giordano is now one of the world’s leading international retailers of men, women and children apparel and accessories. The brand has grown from its single Hong Kong store in 1981 to the present network of over 2,600 stores and counters in over 40 countries in the Asia-Pacific and Middle East regions. The company’s brands - “Giordano”, “Giordano Junior”, “Giordano Ladies”, “Concepts One”, “ BSX “ - are today synonymous with superior quality, value and service. Al Watan Daily spoke to the Executive Director of Giordano, Ishwar Chugani who shared the secret behind the success of the brand.

Can you give a brief overview of Giordano?

Chugani: Giordano embodies the contemporary lifestyle choices, simplicity in design and quality in substance. Its total commitment to superior service, excellent quality and great value has enabled the company to successfully execute its multiple-market and multiple-brand strategy. Giordano today is one of the top five clothing retailers in the whole Arab region. The brand’s merchandise mix of relaxed and smart casuals has proven popular for all age groups and nationalities, demonstrating the global appeal for the brand. The heart of the Giordano system is that it is totally customer responsive.

Information, speed and simplicity are the key components driving the entire operation. Giordano’s brand philosophy is modern simplicity and styles, where less is more and a style that accentuates and enhances an individual’s inner beauty through modern, classic and timeless clothes. In an industry constantly adapting to changing trends that result in rising production costs, Giordano has developed a flexible approach to fashion retailing.

How is Giordano in competition with other international brands?

Chugani: Giordano has evolved in the last nineteen years since 1993 from a basic mass market retailer to one that provides quality product, world class customer service and ex-

Executive Director of Giordano Iswar Chugani inside its flagship store in The Avenues Mall.

(Al Watan Daily)

ceptional value to its customers. In the dynamic world today, it is important to evolve and continuously address the needs of the consumers and the markets. The brand has consistently built emotional ties with its customers and strives to provide its customers with an exceptional shopping experience.Today there are 350 brands and we are still growing, business is doubling in size and volume. I believe we are doing something right since most of our customers return to shop. At Giordano we make shopping easy, uncomplicated and worth the value for the quality and design.We reinvent ourselves to cater to the clothing needs of our customers.

How often do you change or add to your current available merchandise?

Chugani: We introduce new merchandise every two weeks and in all our stores, essential items are available from polos, pants, shirts and more. But from time to time we bring new

Giordano at The Avenues Mall, Kuwait (Al Watan Daily)

designs. Every store window presents the same look, feel and are in tune with merchandises.

Flag stores such as the Avenues present variety and choices that include our junior collection.

At Giordano, our items are easily visible to our clients; the types of clothing are segregated for easy match unlike other brands which present complicated choices that eventually make buyers looking like “clowns”.

talizing on its success in the region, Giordano Middle East has expanded across the G.C.C. markets (U.A.E., Saudi Arabia, Kuwait, Bahrain, Qatar and Oman) and into neighboring countries. Giordano now operates stores in the GCC, India, Iran, Georgia, Jordan, Sudan, Tanzania, Pakistan, Mauritius, Sri Lanka, Algeria, Kazakhstan, Kyrgyzstan, Yemen, Iraq, Armenia, Lebanon and Syria.

How is Kuwait fashion trend different from other states in the region?

How would you describe Giordano in three adjectives?

Chugani: The Middle East Market is pretty much similar with each other unlike Dubai, which is a challenging market. Giordano follow international and global trends with 500 designers on constant look-out for new fashion and what people wear in malls, events and more. Giordano is global that follows fashion trends from low to high end trends and with 2,600 stores worldwide in 540 countries. Capi-

Chugani: Relevant, essential and functional best describe our products. The look is relaxed and the merchandise can easily be mixed together to match any occasion, mood or place.

Customers can be assured “to feel good and look great”.

What is “World without Strangers”?

Chugani: Giordano, the leading internation-

Thousands protest in London, Rome for cycle safety FRANCE: Thousands of cyclists staged protests in London, Edinburgh and Rome on Saturday to draw attention to poor road safety and a lack of provisions for bike lovers in the key European cities.

Some 10,000 cyclists braved pouring rain in London and 3,000 turned out in Edinburgh, according to organizers, who said they were England’s and Scotland’s biggest ever pro-cycling demonstrations.

“If we take Holland as an example, the majority of people cycle and that’s what we want here,” Suzanne Fogg, a trustee of the London Cycle Campaign, told Britain’s Sky News.

“So many people want to cycle and they just don’t feel safe, so this is about making the streets feel safer and more inviting for cyclists.”

Protesters dressed in outfits from Lycra to fancy dress crowded streets around London’s landmark Trafalgar Square and Parliament Square, halting traffic to demand concrete pledges to ensure road safety.

Pro-bike groups staged the events under the umbrella of the Cities Fit for Cycling initiative launched by the Times newspaper ahead of local elections in Britain, where 26 cyclists have died on the roads this year.

“We’ve reached a point where the nation’s attitude to cycling is really sharpening because of global warming and overcrowded cities,” said Rhoda Buchanan, a spokeswoman for the campaign.

Cyclists take part in a protest rally calling for more and safer bicycle infrastructure, in Rome’s central Via dei Fori Imperiali near the Colosseum on April 28, 2012.

(AFP)

“People recognize that cycling is one of the only sustainable ways for us to move about crowded urban spaces, but so many people feel it’s also a deadly way to travel.”

Protesters in Rome, also affiliated with the Times campaign, said they were likewise looking to the Netherlands as a model.

“There’s a civil war going on the roads,” said Paolo Bellino. “This is a necessity that has been put off for too long. In the Netherlands, pro-cycling policies were adopted 40 years ago. We’re 40 years behind,” he added.

“Policy in this country is made for drivers,” said Alberto Fiorillo, one of the organizers of the Rome demonstration near the Colosseum.

The Italian protest was entitled “Veni, Vidi, Bici” -- a play on words using the Italian word for bike in the famous saying attributed to Julius Caesar.

Bellino said the latest Italian cyclists slain on the roads were a 54-year-old cyclist run down on Friday near Naples and a 14-yearold boy hit in Parma.

Protesters lay down in memory of slain cyclists on the Via dei Fori Imperiali built by fascist dictator Benito Mussolini through the Roman Forum, calling for the busy thoroughfare in Rome’s historic centre to be pedestrianised.

Organizers said more than 2,500 cyclists have been killed on Italy’s roads over the past decade, with Rome and Milan showing the highest accident rates. -AFP

al apparel retailer, reported a 107 % increase in Middle East members of its World Without Strangers (WWS) card less loyalty program over the last 12 months, growing to over 300,000 members at end March 2012. Over the last four years, WWS membership in the region has grown tenfold from a base of 30,000 members in March 2008. On average, the retailer has added over 5,000 members per month since the program’s launch in the Middle East. WWS is a lifetime membership program that is automatically renewed by making at least one purchase during the year. Privileges include special pricing on merchandise in most Giordano stores globally, points earned with each purchase, and a special 20 per cent discount on all purchases during the member’s birthday. WWS is in place in Singapore, Hong Kong, Macau, China, Taiwan, Malaysia, Australia, Japan, Indonesia, Thailand, Saudi Arabia, Oman, Qatar, Kuwait and United Arab Emirates.

Indian parents protest ‘B is for Bomb’ books

LUCKNOW, India: Angry parents are demanding to know why their kids are being taught about bombs and knives at nursery schools in a northern Indian state.

They complain that a book on Hindi language alphabets for children aged 4 to 5 says that “B’’ stands for bomb and “Ch” for “Chaku,” or knife. Pictures accompany the words.

Ram Authar Dixit, president of the Parents-Student Welfare Association of Gurukul Academy in Uttar Pradesh state, said Sunday that the national education board was investigating how such a book was cleared for private nursery schools. More than 100 schools in the state have been using the book.

Javed Alam, a board official, blamed the book publisher for the lapse. The Federal Board of Secondary Education issues broad guidelines to state and private schools relating to books, but leaves the content to publishers. It steps in case of complaints, Alam said.

“It is the responsibility of the education board to provide clean books to the students,” said Dixit, a parent. The publisher could not be immediately reached for comment.

“Children have an impressionable mind. If students are taught about bombs and knives at this stage this would develop a negative mindset for them,’ Ananya Tiwari, a child psychologist, told The Associated Press in Lucknow, the state capital. -AP

British tea scion hopes India will embrace the bag FRANCE: Stephen H.B. Twining, the 10th-generation descendant of the Twinings tea-making family, is an unimpeachable brand ambassador. It is early afternoon and he is already on his 12th cup of the day.

“My usual daily intake is about 15 cups, so I’m a little ahead of myself, but tea drinking is a huge passion with me,” he says, sipping a light infusion of green tea in New Delhi.

Twining, director of the British company which opened the first tea shop in London over 300 years ago, was in India to promote his range in a country where Twinings buys a lot of tea -- but sells very little.

Like every other global company, Twinings is seeking growth from India’s 1.2 billion people, whose tastes are becoming more upmarket and sophisticated.

“There’s huge potential for growth in places like India and China -- throughout Asia,” Twining says.

The easy part in India for Twinings, part of the giant Associated British Foods conglomerate, is that people all over the country drink tea every day.

The tough part is that teabags, which are Twinings’ core product, are not used much by Indians, who like their tea boiled loose in a strong, milky brew.

Instead, Twinings is aiming at the upper end of the market by packaging each teabag in an air-tight individual envelope to keep the tea fresh for months.

At 600 rupees ($11.40) for a box of 100 bags, the price of one teabag is roughly equal to that of a freshlymade streetside cup of “chai” served in a small earthenware pot or plastic cup and often spiced with cardamom

or ginger. “We are unabashedly a premium tea and our customers seem to appreciate that fact,” Twining says.

Twinings has secured 35 percent of India’s teabag business since it entered the country in 1997 but without divulging figures he concedes it is still a risibly small market -- less than one percent of the company’s global turnover.

Twining says the firm does “tweak its blends to suit local tastes”, but creating the perfect cup of tea is a tricky and capricious enterprise for varying national palates.

Indians, for instance, prefer a mellower version of Darjeeling tea than some other countries, he says.

“Wine drinkers accept different years are of different quality but tea drinkers are a finickety lot -- they want the flavor of their favorite cup of tea always to be the same,” he says.

The difficulty is that, like wine, tea’s flavor changes with the weather.

The taste of tea leaves still on the plant can even fluctuate from week to week, depending on influences such as moisture, wind and sun.

The higher and drier the area and hotter the wind, the less water the tea bush absorbs, making the taste of the leaves more intense.

“We have to assess the tea’s characteristics and decide how best to use it to create the flavor, body, color and the brightness of the blend,” Twining says. “It’s like putting together a jigsaw to get a consistent taste.”

The company’s nine tea tasters undergo five years of grueling training at the company’s Hampshire head-

quarters before becoming master tea tasters and deciding what goes into Twinings’ more than 200 blends of teas.

They may taste up to 3,000 cups a week to achieve “just the right taste”, Twining says, juggling blends from over 30 countries from India, China, Sri Lanka to newcomer Brazil, whose teas have a mild “coconutty overlay”.

Twining, 48, who sports distinct bright ties, has worked in many jobs at Twinings from manager of the famed shop in London’s Strand -- the first tea room opened by his ancestor Thomas Twining -- to being a tea taster himself.

“Look at this tea,” he says, pointing to his cup of green lemon tea. “Look at its appearance and brightness.

Give yourself an olfactory workout, breathe it in -- it should be fresh and grassy.”

He dismisses the notion that teabags are inferior to lose tea.

“Teabags do have an image problem,” he admits.

“But the tinier the leaves (in the teabag) the quicker flavors get released.”

And he has some words of advice for teabag users.

To get the perfect cup, the teabag must brew for three minutes -- longer than most tea drinkers realize “so they aren’t getting the best taste,” he says.

Use a thin porcelain cup and it is traditional to put the milk in first, says Twining, though he adds that in the end there are no strict rules or etiquette to be obeyed.

“Don’t add sugar in your tea -- but if you like it sweet, forget that rule,” he laughs. -AFP

English tea-maker Stephen Twining poses for media representatives at a function in Gurgaon on the outskirts of New Delhi on Feb. 27, 2012. (AFP)

ALWATAN DAILY

entertainment Song Of The Day

Fahad AlSabah Staff Writer

Song: Stop It (Crookers Remix) Artist: Theophilus London Album: Timez Are Weird These Nights: Remixed Genre: Hip-Hop/Dance In short: There’s no doubt that Theophilus London is one of the biggest names in the underground Hip-Hop scene, and his recent features and mixtapes helped him build a bigger fan base; London released his critically-acclaimed debut album last year, and a remix version of it this month. The Crookers remix of “Stop It” is only a taste of the album’s feast of DJs. To listen to the song visit www.alwatandaily.com E-mail your feedback to falsabah@alwatandaily.com

The Buzz NBC pulls Best Friends Forever from schedule NBC has pulled the plug on midseason comedy “Best Friends Forever,” Reuters has confirmed. Created by Lennon Parham and Jessica St. Clair, who also star, the half-hour series bowed in early April to 4 million viewers and a 1.2 rating in the advertiser-coveted adults 18-49 demo before dipping in the ratings. “BFF Fans: Wanted to let you know that our show is being taken off the air until the summer. Hoping to post ep 5 & 6 online asap. We love u,” Parham wrote Friday afternoon on Twitter. She followed up by thanking the viewers: “I CANNOT thank you enough for the love and support of our little show. You guys are truly the best.” Next week, an original episode of hidden-camera series “Betty White’s Off Their Rockers” will air in “BFF’s” Wednesday 8:30 p.m. slot. No airdates have been set for the show’s two remaining episodes. -Reuters

Music fans hanker for Ray Charles hologram: Poll When a hologram of late rapper Tupac Shakur appeared on stage with Snoop Dogg at the recent Coachella music festival, it stunned audiences by literally bringing the performer back to life - technologically, anyway. Reuters asked Los Angeles-based E-Poll Market Research, which surveys consumers about celebrities for Hollywood’s major studios and TV networks, to pull together a list of dead celebrities who remain popular and, like Tupac, might still be big draws at a concert if only as a hologram. Perhaps surprisingly, given his status as the King of Rock, Elvis Presley managed only a second place tie with country singer Johnny Cash. It was soul legend Ray Charles who topped the list, judged by a combination of fan appeal, audience awareness and perceptions of talent. The researchers label the overall grade an “E-Score.”

John Lennon - imagine that - was fourth, and one notch below came ol’ blue eyes, Frank Sinatra. Another king, this one of pop music, Michael Jackson, failed to make the top 10, but just by one notch. -Reuters

Carlos Diegues to chair Caméra d’Or jury at Cannes Brazilian filmmaker Carlos Diegues gets the task of picking this year’s best new director from the lineup of emerging talent at the Cannes Film Festival. Diegues will head up the Camera d’or jury, which kicks off on May 16, Cannes officials announced on Friday. Other jury members will include Italian journalist Gloria Satta and French film industry representatives Herve Icovic, Michel Andrieu and Francis Gavelle.

This year’s crop of Camera d’Or contenders includes 22 films presented in the Official Selection, Directors’ Fortnight or La Semaine de la Critique categories, according to Cannes officials. Over the course of his five-decade career (and counting), Diegues has directed over 20 features, documentaries and shorts, including “God Is Brazilian” (2003), “Orfeu” (1999) and “Bye Bye Brasil” (1980) - many of which he also had a hand in writing. Diegues will announce the winner at the festival’s closing ceremony on May 27. -Reuters

Handler’s After Lately renewed for third season E! wants to see more of Chelsea Handler. The “Chelsea Lately” host, who signed a deal in November to remain with the series through 2014, is finalizing a renewal to keep scripted spinoff “After Lately” on the network for a third season, an E! representative confirms to Reuters. The move comes as the NBC Universal-owned network continues to grow its relationship with the 37-year-old comedian, who’s developing and producing series for E! through her Borderline Amazing Productions shingle. “After Lately,” which follows the fictional and largely improvised work lives of “Chelsea Lately’s” cast, crew and writers, premiered on the network in March 2011. It has steadily built its ratings with help from such high-profile guests as Jennifer Aniston, Reese Witherspoon and Justin Bieber. The January season 2 finale brought in a record 1.7 million viewers, with an exceptionally high showing among women 18-34 (2.3 rating). The second season averaged 1.1 million viewers over the course of eight episodes. -Reuters

monDAY, april 30, 2012

Prize-winning film’s Cuban actors to seek asylum in Miami MIAMI: A pair of lead actors from a prize winning film about escaping Cuba have emerged from hiding to confirm they are seeking political asylum in the United States.

The young Cuban actors went missing last week while en route to the Tribeca Film Festival in New York where they were due to appear at the movie’s US premiere.

Actress Anailin de la Rua and actor Javier Nunez, cast members of “Una Noche”, broke their silence Friday night in a TV appearance on the Miami-based Spanish language channel America TeVe. In an interview with Reuters, de la Rua and Nunez said their life imitating art saga was not quite as dramatic in real life as the harrowing story depicted in the film.

“Una Noche” follows three Cuban teenagers who try to escape their homeland by sea on a raft to start a new life in Miami. De la Rua and Nunez, who fell in love during filming, play a brother and sister, but only one of them survives the risky journey.

The pair said their real-life decision to leave Cuba stemmed from the success of the film and invitations to travel to festival premieres - Berlin in February and then New York.

They spent six days in Germany in February, their first overseas trip, but returned to Cuba and only began to think of leaving the island permanently when they got news of the invitation to New York.

“In part it’s hard to leave your family and friends behind,” said de la Rua, who has two sisters and divorced parents in Havana. “But at the same time you do it so you can help

Javier Nunez (left) and Analin de la Rua pose for a picture following an interview in Miami, Florida, April 27, 2012. (Reuters)

them. There’s no future in Cuba.”

Nunez said his mother lives alone in Cuba and he plans to help her out economically along with his older brother who left Cuba for Ecuador several years ago and works as a waiter.

The actors, both aged 20, said they were surprised by the film’s success, especially as it was their first - and only - acting roles. They were 15 when they auditioned separately for the film, and then spent two years prepar-

ing for their roles after being selected by the film’s director Lucy Mulloy.

“She told us what she liked and didn’t like. She likes very natural acting,” said de la Rua. But nearly three years passed before the film’s release, during which time the pair took regular day jobs. “Our friends in Cuba kept on asking us ‘when is the film coming out,’ and they almost didn’t believe it was for real,” said de la Rua, who worked at a Havana

street stall selling home-made handicrafts and jewelry to tourists. Nunez worked in a pizza restaurant.

“It never entered our minds that we would get to travel because of the film. We never imagined that it would go this far,” de la Rua added.

There is a long history of Cuban athletes and artists defecting to pursue careers outside their home country, including the 1997 defection of baseball pitcher Orlando “El Duque” Hernandez who smuggled his way out of Cuba by boat and became a star with the New York Yankees.

More recently the desertions have included talented ballet dancers and soccer players.

A Miami immigration lawyer, Wilfredo Allen, who is representing the actors, said he planned to file for political asylum on their behalf in the next two weeks “based on possible persecution if they return to Cuba.”

Under US law Cuban citizens enjoy special immigration rights to remain in the United States, either by applying for permanent residency or by seeking political refugee status.

The couple’s reappearance came a day after Nunez shared the best actor award at the Tribeca festival, along with Dariel Arrechada, a fellow actor in “Una Noche.” Arrechada accepted the award on his own, and apparently plans to return to Cuba.

“Una Noche” also picked up the Tribeca Festival’s best cinematography award and best new narrative director for Mulloy. -Reuters

Sky News Arabia to launch 24 Hareem Al Sultan hour independent Arabic News returns with a second season channel on 6th of May 2012

Nancy Oteifa Staff Writer

KUWAIT: Sky News Arabia a new 24 hour Arabic channel will be opening on the 6th of May 2012; this was announced in a press conference held Wednesday at Marriot Court.

Nart Bouran Head of Sky News Arabia said during the press conference that this 24 hour Arabic language multi-platform breaking news service will broadcast to the region across multiple platforms.

The channel is a set up joint venture between Abu Dhabi Media Investment Corporation (ADMIC) and British Sky Broadcasting {BSKYB}.

Sky News Arabia is based in Abu Dhabi and will broadcast to over 50 million homes in the region from across the Middle East and North Africa (MENA).

Sky New Arabia will be an Arabic channel for Arab viewers delivering politics, economics, business, sport, lifestyle, technology and cultural news with 22 presenters from across the Arab world. The channel will have 10 bureaus across the region as well as in London and Washington and will draw upon Sky News network of bureaus around the world for international coverage.

He stated “The channel aims to provide a new horizon for news reporting with indepen-

dent breaking news across the Arab world and will be available on Transponder 15 on Arab sat Badr4; Transponder 14 on Nile sat 201, on du IPTV and e-life platforms plus in high definition on the OSN pay-TV platform.”

Commenting on the launch of the channel Bouran said “Over the last two years we have seen Sky News Arabia move from being just an idea to a full-fledged multi-platform news channel. Our goal throughout has been to create an impartial and independent breaking news channel. For viewers in Kuwait and across the region Sky News Arabia will offer fast live, impartial news across multiple platforms. It has been a huge collaborative team efforts resulting in the most technically advanced news operation in the region.”

The channel includes nearly 400 journalists, reporters, producers and broadcast technicians working together to create an unparalleled new channel. The channel is supported by an Editorial Advisory Committee, a first for the region, to ensure that the channel delivers fair, accurate, consistent and independent news.

He concluded “We have a lot of plans for our future; of course having an office in Kuwait is one of our main, but not now at the recent time. We do have 12 offices in the Middle East and 9 offices in UK which cooperate with us as a sister company.”

East Coast and West Coast get celeb cameos on 30 Rock LOS ANGELES: Thursday night’s live “30 Rock” episodes pitted East Coast against West Coast, with a cameo by Beatles legend Paul McCartney on the east, while the west got reality star Kim Kardashian. Both were led into the office of Kabletown honcho Jack Donaghy (Alec Baldwin) as they were looking to make a pit stop in Donaghy’s private bathroom. Both McCartney and Kardashian broke the fourth wall and waved to the cheering audience, though McCartney also gave Donaghy a playful slap on the cheek.

Kardashian appeared a second time in the West Coast episode, after Liz Lemon (Tina Fey)

joked about how 2.5 million viewers had just witnessed Jenna Maroney’s boyfriend, Paul, propose.

“Now 14 million people just saw that,” a camerawielding Kardashian said, referring to her Twitter followers. “You’re welcome.”

Meanwhile, “Mad Men” star and former “30 Rock” guest star Jon Hamm took on two roles in the live episode - including one in which he appeared in blackface - while Amy Poehler appeared as a young Lemon via flashback and Jimmy Fallon played a flashback version of Donaghy.

Even the song “Zou Bisou Bisou” from “Mad Men” made a cameo. -Reuters

Will Ferrell returns to host SNL Will Ferrell is set to return to his old stomping grounds at “Saturday Night Live” to host the May 12 episode, marking his third time leading the live comedy show since leaving the cast 10 years ago. Ferrell will tout upcoming film “The Campaign” as well as his most recent Spanish comedy “Casa de Mi Padre.” He will be supported by musical guest Usher, who makes his third appearance on the show. -Reuters

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FILE - In this 2011 image released by NBC, Alec Baldwin portrays Jack Donaghy, left, and Tina Fey portrays Liz Lemon in the NBC comedy series, “30 Rock.” (AP)

Handout photo of “Hareem Al Sultan” exclusively on OSN Yahala! HD.

KUWAIT: This May sees the return of the multi-award winning hit series “Hareem Al Sultan” to OSN screens with a brand new second season. The lavish Turkish drama chronicling the life of Suleiman the Magnificent premieres on Tuesday, 15th May at 21:00 KSA on OSN Yahala! HD and will screen every Saturday through to Tuesday. The most talked about series of the year is guaranteed to satisfy fans with passion, power struggles, battle scenes and new characters in a season that promises to be even more epic than the first, according to press release.

The steamy television period drama revolves around Sultan Suleiman who at the age of 26 began his reign with the aim to make the Ottomans invincible, building a realm more powerful and extensive than that of Alexander the Great. He ruled for 46 years, and during this time Sultan Suleiman became the greatest warrior and ruler of both East and West.

In the highly anticipated second season, the struggles for power and games of

intrigue in the harem gain strong momentum. New characters appear such as Isabella, a cousin of King Ferdinand of Spain who is kidnapped and sold in the slave market of Istanbul. Tensions between the European kingdoms and the Ottoman Empire increase with the plight of the captured aristocrat. Meanwhile, Suleiman presses on with his plans to extend his empire.

Khulud Abu Homos, Senior Vice President of Programming added: “The first season of ‘Hareem Al Sultan’ was a huge hit with our viewers across the region so we are delighted to be bringing the second season to OSN screens before it airs anywhere else in the region. This bold and brilliant series is one of the most ambitious series in TV history and the second season is set to be one of the tele-visual events of the year. We will also have lots of competitions, interviews and behind the scenes action from the series that will delight fans. The series will be dubbed in Arabic, sub-titled in English and screened in stunning high definition 1080i.”

Anonymous, Stopped on Track win big at German film awards BERLIN: A film by Hollywood director Roland Emmerich portraying William Shakespeare as a fraud won six German Film Prize trophies on Friday at the world’s most lucrative movie honors with total prize money of around $4 million.

But the top award, best film, went to Andreas Dresen’s “Stopped on Track”, a portrait of a man dying from a brain tumor. It won in four categories overall, including director, actor and supporting actor. The six wins by “Anonymous,” starring Welsh actor Rhys Ifans and filmed at Berlin’s Babelsberg Studios, came mostly in technical categories such as production design, costumes, cinematography and editing.

The English-language film theorizes that Edward de Vere, the 17th Earl of Oxford, penned works such as “King Lear” and “Macbeth,” and it depicts William Shakespeare as a drunken buffoon who could barely write his own name.

When “Anonymous” was released in theatres last year, it was criticized by some Shakespeare scholars who said the theory was nonsense. It failed to earn major rev-

enues at worldwide box offices, but did play well in Germany and even picked up an Oscar nomination in the United States for costume design. Emmerich, better known for directing disaster movies such as “Independence Day” and “2012,” told Reuters he was surprised to win so many awards, but they had not altered the way he thought about the film.

Dresen scooped up his second German Film Prize, also called a “Lola,” for director, sealing his reputation as a filmmaker who is not afraid of putting difficult topics on the big screen. He previously won in 2009 for “Cloud 9”, a romantic - and at times graphic - comedy about the love lives of senior citizens.

“Stopped on Track” also earned Milan Peschel a Lola for best actor and Otto Meillies claimed one for best supporting actor.

The biggest snub of the night belonged to “Barbara,” a film dealing with the repressive world of Communist East Germany in 1980, which only took home the silver prize for best film despite having been nominated for eight awards. -Reuters

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ALWATAN DAILY

AROUND TOWN / TIME OUT

MONDAY, APRIL 30, 2012

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

Feature o f

graffiti

the day

moderately confused

Indian Cultural Society presents Zara Sa Jhoom Loon Main

KUWAIT: Indian Cultural Society presents “Zara Sa Jhoom Loon Main” with renowned playback singer from Bollywood, Abhijeet, world fame theater cum comedy king Umar Sheriff from Pakistan on May 18 Friday, at 7 pm sharp. The chief guest for the event will be Ambassador of India, Kuwait. Also guest of honor will be prominent personalities from Kuwait and respected embassies from different countries.

After hosting a memorable recent event for noble cause “Ambassadors of Comedy” with international artist Aron, Dean & Nitin, ICS is now geared up with full package of cultural entertainment in “Zara Sa Jhoom Loon Main”. On continued process ICS has invited top most playback singers, actors and actresses like Shreya Ghoshal, Kumar Sanu, Udit Narayan, Kader Khan, Bhagyashree, Alka Yagnik, Hema Sardesai, Talat Aziz, Shibani Kashyap, Akshay Anand, Prairna Agarwal, Bharti Singh and Kavita Krishnamurti etc., Abhijeet Bhattacharya, the name needs no introduction. He has given his voice for actors such as Shahrukh Khan, Anil Kapoor, Mithun Chakraborty, Sunil Shetty, Jackie Shroff, Akshay Kumar, Govinda, Sanjay Dutt, Sunny Deol, Saif Ali Khan, Bobby Deol, Salman Khan, Aamir Khan, Hrithik Roshan and Ajay Devgan, among many others.

Abhijeet was born in a Bengali family in Kanpur on October 30, 1958, graduated in commerce (B.Com.) from Christ Church College, Kanpur in 1977. He started singing on stage from 1970 with Rahul Dev Burman to sing for Dev Anand’s son’s debut film.

In the 1990s, Abhijeet became a playback singer.

His songs include work from the film Baaghi, composed by Anand-Milind: “Ek chanchal shokh hasina,”

Month a t

Sudoku

Elementary

Intermediate

Advanced

“Chandni raat hai” and “Har kasam se badi hai.” Then in 1994 when he performed for movies like Yeh Dillagi, Anjaam, Raja Babu and Main Khiladi Tu Anari. He won the Filmfare Best Playback Singer Award for Yes Boss in 1997. He went on to record for the movies Baadshah, Dilwale Dulhaniya Le Jayenge, Josh, Dhadkan, Chalte Chalte, Main Hoon Na and many others.

He was a judge in reality shows Star Voice of India and Ek Se Badhkar Ek. In Star Voice, Abhijeet has recorded non-film pop music. He released two albums, Main Deewana Hoon and Tapori No.1. Later he launched Aashiqui.

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

a glance

Diwaniya presentation May 1/ 7 p.m. /The AWARE Center: The AWARE Center cordially invites interested Western expatriates to its diwaniya presentation entitled, “Criminal Laws in Islam,” by Dr. Teresa Lesher. Criminal law in Islam aims to safeguard the community and exists when there is potential harm to a second party. Join Dr. Teresa Lesher for a discussion of Islamic law (shariah) regarding the penalties for the major crimes, including murder, manslaughter, armed aggression, theft, rape, adultery, slander and intoxication, and how these rules protect the citizens’ material, spiritual and social development. Q&A follows a 20-minute presentation.

Marriage counseling session

K’S PATH invites applicants for the adoption of pets Sepp is a Domestic Long Haired (DLH) male cat. He will be 2-years-old April 2012. This friendly, laid-back boy loves a good cuddle and likes a high vantage point in a cat tree or ledge to look out from. He would do best in a home with children over 12 years of age.

To adopt, contact +965 67006122 or visit the website www.kspath.org

May 2/ 6 p.m. - 8 p.m. / TIES Center: TIES Ladies Club invites all ladies to a lecture on Marriage Institution by Joanne Hands (Psychologist, Licensed Counselor, Marriage & family Therapist). The lecture will cover on a brief introduction to the stages of marriage institution, a successful approach to the day to day marriage life, tricks of nourishing and improving your marriage relationships and techniques of overcoming the marriage challenges. Refreshments will be served.

For more information please contact us on 97228860/2523015/6 or emailinfo@tiescenter.net.

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

Annual speech contest

Pretty Little Things Charity Edition April 28 - May 1/3:00 p.m. - 10:30 p.m/Sadu House: Try new things, meet the people behind regional brands, help raise funds to refurbish a part of the orphanage, chat under the stars by candlelight and stay a while. Opening day will be April 28 at 7:00 p.m. with special appearance by Fishyface booth and the event will extend from April 29 to May 1 from 3:00 p.m. until 10:30 p.m. held in Sadu House; Gulf Road; in front of the National Museum of Kuwait. Come and meet: Razan Al Azzouni, Fyunka, Sotra Boutique, Th\\’haba, May Jewelry, Paper Design Nest, The Yard, Peices By Farah, AK Eco Gioelli, Muneera Alsharhan, So Lulu, Baby B, Lina Jewelry Design, and more! For more information visit Facebook page https://www.facebook.com/ events/122809627847930/.

May 5/ 2 p.m. - 8p.m. /AIS: The Annual Inter-Gavel Club Contest showcases the communication skills of young children through speech contest. This speech contest will be amongst the members of 14 Gavel Clubs mentored by the members of internationally recognized toastmasters in Kuwait. This year’s contest will be held at American International School, Maiden Hawalli. Entry to this event is absolutely free but a prior registration is required.

Holiday Notice The Embassy of India will remain closed on Sunday, May 6, 2012 on account of “Buddha Purnima”.

Bread baking course April 19- May 10/ 6 p.m.-8 p.m. /TIES Center: TIES Ladies Club invites all ladies the unique course of preparing the ancient traditional food “The Bread Baking”.

Baking of different kinds of breads will be demonstrated including Old English Toast, Italian Bread Stick, Strawberry Sweet Heart and many more. For more information please contact us on 97228860/2523015/6 or emailinfo@ tiescenter.net.

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

Relations with colleagues on the job could be very cooperative today, Aries, probably because you’re about to complete a project of some kind that could result in higher income for everyone. Communication should be open and honest, and for once you’ll probably be able to reach everyone you phone without having to leave any messages. Go with the flow and all should be completed successfully.

Taurus: April 20 - May 20

Friendships and romantic bonds should provide a rich source of support and good companionship today, Taurus. Conversation is likely to be light, covering general matters like current events and the weather, but this might be just what you need right now. Someone could introduce you to some new friends from far away who have some intriguing news of their own.

Gemini: May 21- June 21

Today you might find yourself hosting an impromptu social event, Gemini, and more people could show up than you initially counted on. Don’t worry about it, however. The party should be enjoyable for everyone even if the place is a bit crowded. Your visitors can look out for themselves.

Cancer: June 22 - July 22

A festival, rally, or other mass event could occur today in your community, Cancer. It could center on a social, ecological, or political issue. You could well decide to attend in the company of a romantic partner, and perhaps a group of friends, too. This event could prove exciting for you, although some of what you learn there might be unsettling. Take a notebook and plenty of pens.

Leo: July 23 - August 22

Career matters should be going very well for you today, Leo. A sudden change regarding your work could catapult you into a position you’ve been hoping to reach for a long time. A rise in income could result. You’ve worked hard and done very well, so what may seem a lucky break to others is actually the result of intense, determined effort on your part. Enjoy your success and make the most of it.

Virgo: August 23 - September 22

A sudden desire to expand your horizons could have you and possibly a romantic partner considering returning to school,Virgo, perhaps for an advanced degree. The school you’re considering, however, might be located in another state or even a foreign country. Following through with your desire could require some careful planning.

Libra: September 23 - October 22

Some new ideas for expanding your horizons on some level could come to you today through an unexpected source, Libra, possibly even dreams or visions. If an idea does come through a dream or flash of insight, don’t write it off as crazy. It probably warrants some careful consideration, if nothing else. Some research is definitely called for, and possibly consulting with people in the know.

Scorpio: October 23 - November 21

Ideas for a new enterprise, which could be anything from a party to a vacation to a new business, could have you spending a lot of time on the phone today, Scorpio. You’ll need to consult with people who know about what you want to do and at least lay the groundwork for making solid arrangements. Some of what you hear may be confusing, but don’t be afraid to ask for an explanation. Go to it!

Sagittarius: November 22 - December 21

Have you been thinking about getting fit by investing in some exercise equipment? If so, Sagittarius, this might be the day to actually go out and get it.

Don’t be surprised if friends, relatives, and neighbors all want to come over and try it out. Health and fitness are very much on your mind right now.

Capricorn: December 22 - January 19

Your curiosity and creative energy may be stimulated today by information you receive from books, documentaries, or conversations with people familiar with the field you’re exploring.As a result, you could come up with an innovative new project that keeps you and some colleagues busy for a long time. But don’t worry - this enterprise should be full of surprises and therefore anything but tedious.

Aquarius: January 20 - February 18

A female visitor could come to your door today with some interesting, useful information, Aquarius. It might involve anything from stock market trends to a forthcoming wedding to occult and metaphysical matters. Whatever it is, you’ll find it captivating, and might just sit and listen to your guest for quite a while. By the time she leaves, your mind may well be spinning.

Pisces: February 19 - March 20

Today your relationships with just about everyone - friends, relatives, colleagues, and romantic partners - should be going very well, Pisces. Your communication is good, and your ability to see the other person’s point of view is clearer than usual. This might be a bit disconcerting, as it could conflict with your viewpoint.

ALWATAN DAILY

SPORTS

monDAY, april 30, 2012

19

Cricket

Clarke keeps lid on great Aussie expectations ROSEAU, Dominica: Michael Clarke celebrated a year in charge of Australia with a 75-run victory over West Indies in the third and final Test, but insisted his team is far from the finished article. Since succeeding Ricky Ponting as skipper, Clarke has built an impressive record with nine wins, three draws and just two defeats in 14 Tests.

“A lot more grey hairs, but I’ve really enjoyed it,” said Clarke, after Australia wrapped-up their Caribbean series 2-0. “I’ve been very lucky to have some other great leaders around me, wonderful support staff who have played a part in me having success.

And the captain is only as good as his stock. Come our next tour to England, the one-day series, we’ll be looking to continue to play some really good cricket and keep Australian cricket in the right direction.”

Clarke has been through the mill during his time in charge, with a series of great highs and embarrassing lows. He led Australia to an impressive 4-0 home win over India, scoring 626 runs at an average of 125.20.

He also became only the third player after Don Bradman and Wally Hammond to have made a triple century and a double century in the same series.

But he also saw his team bowled out for just 47 by South Africa in Cape Town, before squaring the series in Johannesburg just days later. Then came the shock defeat to New Zealand in Hobart in December last year.

Those ups and downs have forced Clarke not to get too carried away by making predictions over what the future may hold for Australia. “Cape Town showed

us how quickly things can change for the worse and then to be able to pull off a win in Johannesburg and we’re talking about a very strong Test team in their own back yard.

“And we continue to learn, especially, from those two games, Cape Town and Hobart. “I still think we’re a way off the number one spot. We have a lot of improvement to become the number one team. It’s not just about one series or one summer. It’s about consistency over a period of time.”

Australia’s South African coach Mickey Arthur praised the contributions of Matthew Wade, who made a maiden Test century here and spinner Nathan Lyon, who was his team’s leading wicket-taker in the series with 13. Ed Cowan also won plaudits from Arthur after the opener made a battling 55 in the first innings of the final Test.

“It’s been excellent for the development of a lot of players who haven’t played out of Australia before.

I’m thinking of the likes of Matthew Wade, Ed Cowan, Nathan Lyon,” said Arthur. “I think we’ve played solid cricket, we’ve had a lot of young players that are playing in these conditions for the first time and I think they all go back to Australia better players.

“We go back to Australia with a lot of answers as to where we’re going as a squad and I’m very, very happy that we’re just creating depth within our structures because with the amount of cricket we play these days there’s going to be injuries and we’ve got guys that are going to be match-hardened and ready to step up to the plate.” -AFP

Basketball

Durant’s shot lifts Thunder over Mavericks in NBA OKLAHOMA CITY: Kevin Durant rattled in the game-winner with 1.5 seconds to play on Saturday as Oklahoma City downed reigning NBA champions Dallas 99-98 in their Western Conference playoff opener.

With no timeouts left, the Mavericks were unable to get a shot off at the buzzer.

Dirk Nowitzki had put the Mavericks ahead 98-97 with two free throws with nine seconds remaining. But on an inbounds play after an Oklahoma City timeout, Durant threw up a shot over two Dallas defenders to give the Thunder the narrow victory in a re-match of last season’s Western Conference finals. Durant, the NBA scoring champion, finished the game with 25 points on 10-of-27 shooting. Russell Westbrook led the Thunder with 28 points and Serge Ibaka added 22 points and had five blocks.

Nowitzki, Most Valuable Player of last season’s NBA finals triumph over Miami, led the Mavericks with 25 points, 11 of them in the final five minutes.

Jason Terry added 20 points off the bench and Shawn Marion scored 17.

Durant’s basket recalled the teams’ regular-season

meeting on December 29, when he drained a threepointer at the buzzer for a 104-102 Thunder win. The Mavericks, who ousted the Thunder in five games in the conference finals last season and went on to beat the Miami Heat in the NBA championship series, had led most of the game, but couldn’t quite put it out of reach as the tight battle came down to the wire.

A Nowitzki jump shot had given gave Dallas a 94-87 lead with 2:30 to play. Durant made a brace of free throws and after Nowitzki missed a three-point attempt Ibaka completed a three-point play.

James Harden then stripped the ball from Nowitzki and handed off to Durant for a dunk that knotted the score at 94-94 with 1:27 remaining.

Two free throws by Ian Mahinmi put Dallas up 9694, but Ibaka was fouled on a dunk and made the free throw to complete the three-point play to put Oklahoma City ahead again, 97-96. The remaining three Western Conference series begin Sunday, with top-seeded San Antonio hosting Utah, the Los Angeles Lakers hosting Denver and the Memphis Grizzlies at home to the Los Angeles Clippers. -AFP

Football

Dalglish not surprised by stunning Suarez

Australia’s captain Michael Clarke takes a run during the second innings on the fourth day of a second cricket Test match with West Indies in Port of Spain, April 18, 2012. (AP)

Magic shock Pacers 81-77 in Game 1 INDIANAPOLIS: The Orlando Magic entered Indiana’s building as huge underdogs and walked out talking trash.

Jason Richardson and Jameer Nelson scored 17 points apiece to help sixthseeded Orlando, playing without Dwight Howard, surprise the third-seeded Pacers 81-77 in Game 1 of the first-round Eastern Conference playoff series on Saturday night.

Howard, the Magic’s leading scorer and the league’s top rebounder, will miss the rest of the season after having back surgery. The Magic played defense Howard would have been proud of down the stretch, overcoming a seven-point deficit by holding the Pacers scoreless for the final 4:05.

Orlando took a 68-67 lead on a dunk

by Earl Clark with 9:41 remaining, but the Pacers held the Magic scoreless for nearly five minutes to take a 75-68 lead.

A 3-pointer by Richardson cut Indiana’s lead to 77-75.

The Pacers missed 3-pointers on three consecutive possessions, and Danny Granger missed two free throws with 1:14 left. Richardson made another 3-pointer to give the Magic a 78-77 lead with 1:04 to play.

Granger missed in close, and Orlando snagged the rebound. Nelson was fouled and made two free throws with 24.5 seconds left to give the Magic an 80-77 lead.

Darren Collison missed a shot from near the free throw line, and Orlando rebounded. Clark missed two free throws with 12.1 seconds remaining, giving Indiana one more chance. Indiana barely got the ball inbounds, then Granger traveled with 7.5 seconds remaining. J.J. Redick’s free throw at the other end finished the scoring.

David West scored 19 points, Granger added 17 and Roy Hibbert had eight points, 13 rebounds and nine blocks for the Pacers.

Indiana coach Frank Vogel expected Orlando’s offensive style, which fo-

J.J. Redick (7) of the Orlando Magic drives past the defense of Leandro Barbosa (28) of the Indiana Pacers in Game One of the Eastern Conference Quarter-finals. (AFP)

cuses on spacing the floor and shooting 3-pointers, to present a challenge. Orlando led the league in 3-pointers made and attempted during the regular season and was third in percentage (.375).

Orlando fell behind by 10 in the first quarter before rallying in the second. A 3-pointer by Richardson gave Orlando a 43-40 lead, and the Magic increased that lead to 49-42 on a bucket by Nelson. The Magic led 51-44 at halftime, taking the air out of a crowd that showed up with high expectations.

The Pacers made numerous atypical mistakes; among them, shooting just 9 for 15 from the free throw line.

Indiana opened the second half on an 8-2 run that included a 3-pointer and a fadeaway by Granger. George Hill was fouled on a 3-pointer, and he made all three free throws to finally give Indiana a 58-57 edge and bring the crowd back into the game.

Anderson’s 3-pointer in the final minute of the quarter, his first of the game, gave the Magic a 64-63 lead at the end of period. Indiana held Orlando to 13 points on 6-for-19 shooting in the period, but couldn’t support its good defense with offensive production in the fourth.

Indiana shot 30 percent in the final 12 minutes and 35 percent overall. -AP

First win costly as Bulls lose Rose for NBA playoffs CHICAGO: The Chicago Bulls opened the NBA playoffs with a costly victory as they lost reigning Most Valuable Player Derrick Rose to a left knee injury for the remainder of the postseason. Rose tore his left anterior cruciate ligament in the waning seconds of Chicago’s 103-91 triumph over Philadelphia in the opening game of their best-of-seven Eastern Conference firstround series. The NBA playoff opener proved to be the farewell for Rose, who is almost certainly assured of missing the London

Liverpool’s Luis Suarez (life) celebrates scoring his first goal during the English Premier League football match between Norwich City and Liverpool, April 28, 2012. (AFP)

LONDON: Liverpool manager Kenny Dalglish believes the quality of Luis Suarez’s first hat-trick for the club should have come as no surprise. The Uruguay international scored all three of his side’s goals in a 3-0 Premier League victory at Norwich on Saturday.

Two were fine finishes netted in the space of four first-half minutes while the third was a goal of the season contender - an audacious lob from all of 50 yards.

It was the perfect preparation for the FA Cup final on Saturday, although Liverpool have a Premier League home game with Fulham on Tuesday before they meet Chelsea at Wembley. “Every goal was a great goal but it’s not a surprise because of the quality of the player he is,” Dalglish said of Suarez, who was barracked constantly by the home fans.

“I don’t have a catalogue of the best hat-tricks ever but certainly it was a fantastic hat-trick. But when you have got people of his ability there are no surprises. He is a fantastic footballer and a fantastic person. We are very fortunate to have him playing for us. And when he plays like that it is very difficult for anyone to stop him.” The Norwich defenders certainly thought so as centre-backs Elliott Ward and Ryan Bennett were given a torrid time. Ward was at fault for the second and third

goals. Dalglish was also delighted with his team’s performance as a whole, especially as their previous game had seen them beaten at home by West Bromwich Albion. Andy Carroll, the England forward, took no part in the game as he has a groin injury but Dalglish confirmed he expected him to be available for the FA Cup final. Norwich would have drawn level on points with Liverpool had they won but Paul Lambert’s side are still not safe from relegation, although that would be extremely unlikely event. Lambert, who played under Dalglish at Celtic, was adamant that a sense of perspective was needed as the club had been playing in the third-tier League One just two seasons ago.

“I’m pretty sure everyone thought Norwich would be down there because it was new for us. I have got nothing but praise for them, not just for this year but for the last few years because it has been a success story of three years,” he said.

“It has been a hard season and we have had to be right on our game to get any points whatsoever. We are still in a good position. Our objective was to stay in this league. Everybody had us down for getting relegated and we have surpassed all expectations.We just need to get over that line and hopefully we will.” -AFP

Chicago Bulls forward Luol Deng (9) drives to the basket past Philadelphia 76ers guard Jrue Holiday (11) during NBA basketball playoffs in Chicago, April 28, 2012. (AP)

Olympics as well. The Americans will be trying to defend their 2008 gold medal and Rose would have been a key player.

Rose scored 23 points and added nine rebounds and nine assists in helping the Bulls seize a huge lead late against the 76ers but coach Tom Thibodeau opted to keep Rose in the lopsided game, unhappy at how the Bulls were playing. In another East opener, the Miami Heat beat New York 100-67 behind 32 points from LeBron James. The visiting Knicks made 27 turnovers and matched their lowest one-game point total in playoff history.

Already underdogs, the Knicks also suffered a painful loss as guard Iman Shumpert sustained a torn left knee ligament that will also keep him out the rest of the campaign.

Elsewhere in the East, the Orlando Magic scored the last 11 points en route to an 81-77 victory over the Indiana Pacers at Indianapolis. The Magic, without three-time Defensive Player of the Year Dwight Howard after his back surgery, nevertheless held the Pacers without a point in the last four minutes of the contest.

But the shocker of the day was the Bulls, whose 50-win season gave them a home-court edge throughout the playoffs, losing Rose, who missed 27 games this season with various injuries.

With 1:20 remaining, Rose planted his feet for a jump shot and his left knee buckled. Rose jumped but passed the ball off to a teammate and used his hands to land carefully, then lowered himself onto the court and rolled onto his back.

Grimacing as he grabbed his knee, Rose lay on the court while being examined by a trainer then was helped up and off the court to the locker room. Rose, who was 9-of-23 from the field, had missed 12 games this season for a groin injury and five games each for back, toe and ankle problems. The Bulls went 18-9 without him and 32-7 with him in the lineup and that time with Rose sidelined has allowed the rest of the roster to have faith in those who will take his place now. Joakim Noah voiced both concern for Rose and determination that his absence won’t derail the Bulls’ playoff bid.

Rose had missed only three games in six years until this season, when the league wedged 66 games into four months after the season was shortened due to a money dispute between club owners and players that was settled last November. -AP

monday, april 30, 2012

SPORTS

Sports Editors Highlight LONDON: Chelsea boss Roberto Di Matteo said that he could join forces with Bayern Munich in an attempt to get six yellow cards overturned for the Champions League final.

Ramires, Branislav Ivanovic and Raul Meireles will all miss the May 19 final in Munich after being booked in Chelsea’s semi-final second leg at Barcelona. Bayern, meanwhile, lost Holger Badstuber, David Alaba and Luiz Gustavo after their own semi triumph over Real Madrid.

Even if both clubs failed in any bid to overturn those bans, Di Matteo called for a rule change next season so an amnesty is introduced after the quarter-final stage. That would bring the Champions League into line with the World Cup and European Championships. -AFP

Football

Torres treble helps Chelsea rout QPR

Chelsea’s Fernando Torres(right) scores during the English Premier League soccer match between Chelsea and Queens Park Rangers at Stamford Bridge Stadium, April 29, 2012. (AP)

LONDON: Fernando Torres scored his first Chelsea hat-trick as the Blues thrashed Queens Park Rangers 6-1 to strengthen their bid for automatic qualification for next season’s Champions League. Torres scored twice in a first half that saw Chelsea 4-0 up in the 25th minute at Stamford Bridge, with Daniel Sturridge taking just 46 seconds to open the scoring and Chelsea captain John Terry on target as well. Spain striker Torres

completed his treble in the 64th minute.

Florent Malouda made it 6-0 in the 80th minute, before Djibril Cisse scored for QPR six minutes from time at Stamford Bridge. Victory took Champions League finalists Chelsea up into fifth place, two points ahead of Tottenham, who were due to play relegation-threatened Blackburn later Sunday, and just a point behind fourth-placed Newcastle.

Only the top four clubs at the end of the Premier League season are due to qualify for next term’s Champions League, although that number will be reduced to three if Chelsea beat Bayern Munich in this season’s final.

Defeat left QPR above the relegation zone on goal difference alone, with two games of the season left. For Chelsea, who overcame the handicap of having Terry sent off to record a remarkable 2-2 draw away to champions Barcelona on Tuesday that saw them into the Champions League final, this win over their west London rivals capped a memorable week. It also set them up in style for Wednesday’s match against Newcastle, which precedes Chelsea’s FA Cup final clash against Liverpool at Wembley next weekend.

Sunday’s game took place without the usual pre-match handshake ceremony after concerns it could affect Terry’s July 9 court case over allegations he racially abused Ferdinand during QPR’s victory over Chelsea in October. The Chelsea defender, who lost the England captaincy over the issue, has strongly denied wrongdoing. Barely had the match kicked-off, then Sturridge had put Chelsea ahead with a curling shot from the edge of the box before Terry, whose red card on Tuesday means he will miss the Champions League final, made it 2-0 when he headed in Juan Mata’s corner in the 13th minute.

Torres, who scored at the Camp Nou, added a third in the 19th minute when he latched onto Salomon Kalou’s pass and beat Paddy Kenny. And six minutes later Spain striker Torres had his second goal and Chelsea’s fourth when he finished from close range after Nedum Onuoha’s back header was too strong for Kenny to hold.

Chelsea had to wait until the 64th minutes for Torres to complete his first hat-trick and 10 minutes from time Malouda made it 6-0. Cisse pulled a goal back for QPR but it was scant consolation.

-AFP

Goal feast takes Juve closer to Serie A title ROME, Italy: Juventus remained on course for their first Serie A crown in nine seasons after crushing relegation-threatened Novara 4-0 on Sunday as AC Milan stayed three points adrift with a 4-1 win at Siena.

A brace from Mirko Vucinic, and goals from Marco Borriello and Arturo Vidal, helped unbeaten Juventus record their eighth success in a row to reach 77 points with three matches left.

The Bianconeri, who have a better head-tohead record against Milan, could clinch the title as early as Wednesday should they defeat Lecce and Milan lose to Atalanta.

Despite the heavy defeat Novara, eight points adrift of safety, were not condemned to Serie B after third-from-bottom Lecce were beaten 2-1 at home by improving Parma.

At Novara, Borriello, in the starting lineup after scoring the winner at Cesena in midweek, almost gave Juve a second-minute advantage with a left-foot shot that flew just the wrong side of the far post.

But with the away side piling forward the lead arrived soon after when another former Roma striker, Vucinic, cleverly steered home Andrea Pirlo’s 16th-minute free kick.

Stephan Lichtsteiner, Emanuele Giaccherini and Pirlo, with a fierce strike from 30 metres, then all went close as Juve threatened to kill off the game within the opening half hour.

However, the Bianconeri finally doubled their lead five minutes before the break when an unmarked Borriello headed home Giaccherini’s inviting center.

Chilean midfielder Vidal made sure of the points five minutes after the restart, stroking the ball home after goalkeeper Alberto Santana had halted Vucinic’s charge, before the livewire Vucinic struck his second of the afternoon on 64 minutes.

Milan kept pace with Juve after frontmen Antonio Cassano and Zlatan Ibrahimovic struck in

three first half minutes to defeat Siena.

Cassano swept home on 26 minutes after home goalkeeper Zeljko Brkic could only parry an Ibrahimovic strike before the Swede struck with a left-foot blast to double the lead on 29 minutes after being played in by his Italian strike partner.

Substitute Erjon Bogdani pulled a goal back for the home side with seven minutes to play but Antonio Nocerino made the game safe for Milan with a last-minute strike with Ibrahimovic plundering his 26th Serie A goal of the campaign in stoppage time. Cassano’s goal was his first since returning from heart surgery.

The 29-year-old international, who underwent surgery on November 14, last found the net against Palermo on October 15.

Inter Milan moved level on 55 points with Na-

poli and Lazio in the battle for the third Champions League spot after coming from behind to defeat relegated Cesena 2-1.

Luca Ceccarelli gave the visitors a surprise 57th-minute lead before Nigerian midfielder Joel Obi equalized two minutes later with substitute Mauro Zarate grabbing a 72nd-minute winner for the Nerazzurri. Lazio travel to sixth-placed Udinese in Sunday’s late match.

In Bergamo, an 11th-minute strike from Argentine German Denis - his 16th goal of the season - and a second-half effort from Giacomo Bonaventura saw Atalanta defeat Fiorentina 2-0 to climb to ninth. Earlier struggling Genoa remained a point clear of the relegation zone following a 3-2 defeat at Bologna, extending their winless streak to 14 matches. -AFP

Juventus’ Mirko Vucinic (center, bottom ) shoots to score past Novara’s goalkeeper Alberto Fontana during their Italian Serie A soccer match at the Piola stadium, April 29, 2012. (Reuters)

Ronaldo leads Real to brink of La Liga title

Cristiano Ronaldo of Real Madrid CF gets up during the La Liga match between Real Madrid CF and Sevilla FC at Estadio Santiago Bernabeu on April 29, 2012. (AFP)

MADRID: Karim Benzema scored two second-half goals as Spanish leader Real Madrid closed in on its first league title in four years by strolling to a 3-0 victory over Sevilla on Sunday. The France striker struck twice in quick succession early in the second half as Madrid bounced back from its Champions League semifinal exit to Bayern Munich.

Cristiano Ronaldo extended his league record goal total to 43 with a firsthalf opener that was the Portugal forward’s 57th goal of the season at the Santiago Bernabeu stadium. Madrid showed no side effects from Wednesday’s disappointing European loss when Ronaldo and Kaka both failed to convert penalties in Madrid’s bid for a first Champions League final appearance in 10 years. Madrid could be celebrating its record 32nd league trophy if Barcelona fails to win at the Vallecas Stadium, in the first game since coach Pep Guardiola announced he was leaving at the end of the season with assistant Tito Vilanova his replacement.

“This is good for us, it was a very important game for us as we continue on looking to be champions,” Benzema told Canal Plus TV as Madrid reached 91 points to Barcelona’s 81.

“The Champions League is in the past, we only care about the league now.”

Benzema set up Ronaldo’s 19thminute opener as he rolled a short pass into his teammate’s path and the Portugal forward cut back to shake his marker and slot home a low shot inside the opposite corner. Benzema then tested Javi Varas, who had denied Marcelo from a tight angle, before watching the post stop Ronaldo’’s free kick from next to the penalty spot in the 36th. Benzema atoned for a pair of first-half misses in the 48th when he redirected Angel di Maria’s skipping cross into the area past Varas. Four minutes later, Varas could only watch Benzema’s powerful header of a Sergio Ramos cross fly past him into the top of the goal. It was the Frenchman’s 20th league goal and 31st in all competitions, making this his best season at Madrid. Madrid goalkeeper Iker Casillas was rarely tested aside from Alvaro Negredo’s weak effort moments before Benzema’’s first goal. Madrid extended its league record goal tally to 112 goals with three games remaining for the club to further inflate the total. “The sooner we win the league, the better,” Madrid assistant coach Aitor Karanka said. -AFP

Dortmund set to lose Kagawa to England BERLIN: German champions Borussia Dortmund are resigned to losing playmaker Shinji Kagawa, who is said to be considering a switch to the Premier League amid reports of an enticing offer from Manchester United. Dortmund president Reinhard Rauball has told the 23-year-old Japanese midfielder, whose contract expires in 2013, he must sign an extension by Monday as they do not want to risk losing him on a free transfer.

Dortmund’s director of sport Michael Zorc says he has spoken to Kagawa and Borussia are no closer to securing the winger’s signature.

“I spoke to Shinji and his advisor last week and to date he is not willing to extend his contract with Borussia Dortmund,” said Zorc. “We have a Plan A and B and we will follow one of them.

We won’t gamble, but he has a specific

career plan and he plans to play in England. “We have to accept that, even if we don’t find it good.”

Zorc added that it makes no sense to wait another 12 months and risk losing him for free. “Because he now has a certain market value, there is an economic rationality which has to be followed,” he said. According to reports in the German media, Manchester United are said to have offered Kagawa a three-year deal.

Kagawa has been considered one of the Bundesliga’s success stories over the last two seasons having orchestrated Dortmund’s surge to the title after joining the club from J-League side Cerezo Osaka in 2010 for just 350,000 Euros.

Dortmund beat relegated Kaiserslautern 5-2 on Saturday to go eight points clear at the top of the table and within sight of breaking the most points collected in a single Bundesliga season. -AFP

United, City braced for derby of all derbies MANCHESTER, United Kingdom: The defining plot twist of the most enthralling title race in years could be written on Monday as Manchester City attempt to seize control of their Premier League destiny against leaders Manchester United. Three weeks ago, United already had one hand on a record 20th title after City’s defeat at Arsenal left Sir Alex Ferguson’s team a hefty eight points clear with only six games remaining. But a poor run of results from United, which has seen them take only four points from a possible nine, has suddenly given City the chance to put themselves back on pole position as the finish line looms into view. An estimated worldwide television audience of more than 650 million is expected to tune in for a match that is being hyped as the biggest in Premier League history. “This is the derby game of all derby games,” Ferguson said. “It’s in the blood of the supporters and I know lots of fans who would give everything to win this game,” the United manager added.

City midfielder Gareth Barry also emphasized the unique nature of the top-of-the-table duel. “People are speaking of this as being the biggest game in Premier League history and it’s a massive game to play in,” Barry said. “I don’t think you can get away from the size of the game against United and the pressure.”

City manager Roberto Mancini has attempted to douse

the expectation level by stating that United will remain favorites for the title even if they lose, citing the champions final two matches against Swansea and Sunderland.

“I think they have more chance than us because we play the derby on Monday, after we play against Newcastle, that will be a very tough game,” Mancini said. “Instead United play Swansea and Sunderland. For them, they will be two easy games.”Ferguson meanwhile is relishing the challenge from opponents he views as the biggest threat to United’s position at the summit of the English game owing to the club’s seemingly limitless wealth. United have already demonstrated that they have the know-how to get a result at a ground where City have dropped just two points all season, winning January’s FA Cup third round tie 3-2.

Yet Ferguson must be concerned by the sudden frailty of a United defense that was punctured repeatedly by Everton last weekend in a 4-4 draw.

City, who humiliated United 6-1 at Old Trafford in October, have rattled in 12 goals in their past three games, and their nimble strike force of Sergio Aguero and Carlos Tevez will fancy their chances of adding to that haul if Rio Ferdinand and Jonny Evans have another off-day. Of all the storylines to emerge from this year’s Premier League pageturner, it is the re-emergence of Tevez that is potentially the most compelling. -AFP

FILE - Manchester United’s Portugese player Nani (left) vies with Manchester City’s Serbian player Aleksandar Kolarov during a football match between United and City, Aug. 7, 2011. (AFP)