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Interpellation announced in first Parliament session National Assembly forms temporary committees

Staff Writers & Agencies

KUWAIT: The National Assembly approved recommendations to form its temporary committees and its members during the Tuesday session.

The Parliament also approved a Cabinet request to postpone the discussion of three proposed committee formations, pending inquiry to the next session in two weeks’ time as requested by Deputy Prime Minister, Foreign Minister, and State Minister for Cabinet Affairs Sheikh Sabah Al-Khalid Al-Hamad Al-Sabah.

The three proposals are related to open discussions and investigations into recent government and Parliament corruption allegations.

“We understand the importance of these proposals and the issue needs to

be included on the National Assembly’s agenda. This will be followed by the formation of committees to investigate what was stated by the parliament in those proposals,” stated Sheikh Sabah Al-Khalid Today, Parliament is set to discuss the address of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah during the inaugural session of the National Assembly’s newly-opened legislative term.

During yesterday’s Parliament’s session, MP Saleh Ashour surprised everybody by announcing a plan to interpolate His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah. The MP said he will file an interpellation motion over the multimillion dinar issue. Ashour added that “the truth will be revealed to the people of Kuwait” when the premier steps up to the podium to face the motion.

“I will provide all the details, particularly since investigation panels do not arrive at the truth and makes no revelations,” the lawmaker told the Parliament. Yesterday’s session witnessed an argument with regards to a request for the formation of an investigatory committee into the issue of multimillion deposits and allegations that public funds were illegally channeled abroad through the Foreign Ministry. Rejecting the request, MP Nabeel Al-Fadhl described it as unacceptable, arguing that the request is tantamount to a full-fledged indictment. The MP said that “the lawmakers on the committee have become jurists, investigators and judges.” He also accused that the speakership is being run ‘behind the curtains” while pointing at MP Musallam Al-Barrak.

CONTINUED ON PAGE 2

form temporary committees, in Kuwait City, on Feb. 28, 2012. (Al Watan)

Syrian military pounds rebel areas, foreign journalists escape

Tunisia says ready to give asylum to Syria’s Al-Assad

AMMAN: Syrian forces shelled an opposition stronghold in Hama province, killing 20 people, on Tuesday and hit rebel-held parts of Homs, activists said, as two wounded foreign journalists trapped in the city were reported to have been smuggled safely to Lebanon.

President Bashar Al-Assad sent units of an elite armored division, which is led by his brother Maher, into Homs overnight, activists said. Tanks with the words “Fourth Division Monsters” painted on them moved close to the besieged Baba Amr district.

French journalist Edith Bouvier and British photographer Paul Conroy, both wounded last week in an attack in Baba Amr, were now safe in Lebanon, a diplomat and opposition sources said.

It was not clear how they escaped.

In Hama province, security forces bombarded the town of Helfaya, a hotbed of protests in the uprising against Al-Assad.

Activists said the 20 deaths of Sunni Muslim villagers there were among at least 100 killed in the province in the last two weeks in revenge for rebel Free Syrian Army attacks on security forces commanded by members of Al-Assad’s minority Alawite sect.

The reports could not be independently confirmed. Syrian authorities tightly restrict media access to the country.

Syrian forces on Tuesday launched the heaviest bombardment in their three-week assault on Baba Amr, activists said. Al-Assad, projecting an aura of normality in a land ravaged by 11 months of conflict over his right to power, decreed that a new constitution was in force on Tuesday after officials said nearly 90 percent of voters had endorsed it in a referendum.

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New flu virus found in bats All-India strike poses fresh challenge to government

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Numama choir hopes to unite new moms in Kuwait

Onilda Fernandes Staff Writer

A sea of umbrellas can be seen as thousands of Iglesia ni Cristo (Church of Christ) members gather at the Quirino grandstand for a rally in Manila on Feb. 28, 2012. More than met for rallies on Feb. 28, police said, amid perceived political tension with its once staunch ally President Benigno Aquino. (AFP)

Malaysia bans Erykah Badu show over Allah body art

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KUWAIT: A non-profit daytime community choir, Numama is a forum for women to unite, share, and escape reality for just 60 minutes a week through song. “Numama groups can be found in Australia, Singapore and Dubai. When I moved to Kuwait in September 2011, after three years in Singapore, where I directed Numama from its very beginnings, I decided to start one here as well,” explains Janet Swain to Al Watan Daily. Commencing in Kuwait on March 7, 2012 in a villa on Shaheen Al Ghanem Street, Swain hopes to make a difference to the women in Kuwait by introducing Numama here. “The sisterhood element is borne out in its name: the ‘mama’ is self-explanatory and the ‘nu’ refers both to the new season of life that motherhood brings but in addition, ‘nu’ means ‘woman’ in Mandarin Chi-

Giant rings mark 150 days to Olympics

Giant Olympic Rings, measuring 11m high and 25m wide, are launched on a barge onto the River Thames, in London, on Feb. 28, 2012, as organizers celebrate 150 days to go until the start of the 2012 London Olympics. (AFP) More on 16

nese,” says Swain, who has a degree with honors in music, from University of Western Sydney and Macquarie University in Sydney and is also an award winning songwriter and produced a solo CD in 2001. Numama was conceived back in the summer of 2009 by two young and displaced British mothers in Singapore, who discovered they shared something in common beyond a dislike of dirty nappies and sleepless nights--A love of singing.

Neither could be said to come close to having any particular talent, but music and singing had woven a thread through both of their lives at school, university and beyond, into finding space for song in the world of work. Yet the arrival of children challenged their shared hobby with most choirs involving evening rehearsals (and therefore expensive babysitting), relatively unforgiving attendance rules and challenging music.

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Egypt court dismisses bearded Mickey Mouse suit against Christian tycoon CAIRO: An Egyptian court on Tuesday threw out a case brought against telecoms tycoon and liberal politician Naguib Sawiris by a group of lawyers who accused him of showing contempt for religion, saying the plaintiffs had no legal standing in the case. The lawyers had brought the case against Sawiris, a prominent figure in Egypt’s Coptic Christian community, over a cartoon he posted online that they considered an insult to Islam.

Sawiris, chairman and founder of the mobile phone operator Mobinil, tweeted a cartoon in June of Mickey Mouse with a long beard and Minnie Mouse veiled in black. The court, headed by Judge Ehab Yousry, dismissed the case against Sawiris on the ground that it had been filed by individuals who “lack legal standing”. Sawiris’s company suffered a boycott by some customers when news of the tweeted cartoon spread, but Sawiris said the impact had eased by October. A different court is scheduled to rule on March 3 on a similar case filed by another group of lawyers, including one Islamist who is also a member of parliament. Earlier this month, the Arab world’s most famous comic actor, Egyptian Adel Imam, received a threemonth jail sentence for insulting Islam in films and plays.

Sawiris is a vocal critic of Islamist parties which have emerged in Egypt since President Hosni Mubarak was ousted in February last year. He is a co-founder of Free Egyptians (Al-Masryeen Al-Ahrar), a liberal party advocating the separation of state and religion. -Reuters

Members of trade unions participate in a rally during a nationwide strike in Ahmedabad on Feb. 28, 2012. (AFP)

NEW DELHI: A nationwide strike called by trade unions including those affiliated with the government hit Indian cities Tuesday, as millions joined the call for tighter labor laws and a minimum wage. Eleven central trade unions backed the strike call, posing a fresh challenge to Prime Minister Manmohan Singh and his leftist administration, which had called on the unions to call off the show of force. “This is a historic occasion. For the first time all the big trade unions have come together to protest the anti-labor polices of the government,” All India Trade Union Congress general secretary Gurudas Dasgupta told AFP. Among the unions’ demands are a national minimum wage, permanent jobs for 50 million contract laborers, more government efforts to rein in the rising cost of living, and an end to the sale of stakes in profitable public companies.

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Scientists find ‘key to immortality’ for asexual worms

LONDON: British scientists have found that a species of flatworm can overcome the process of ageing to become potentially immortal and say their work sheds light on possibilities of alleviating ageing and age-related characteristics in human cells.

In a study published in the Proceedings of the National Academy of Sciences journal on Monday the researchers found that the flatworms, known as planarian worms, can continuously maintain the length of a crucial part of their DNA, known as telomeres, during regeneration.

“Our data satisfy one of the predictions about what it would take for an animal to be potentially immortal,” said Aziz Aboobaker, who led the research at Britain’s University of Nottingham. “The next goals for us are to understand the mechanisms in more detail and to under-

stand more about how you evolve an immortal animal.”

Planarian worms have long fascinated scientists because they have an extraordinary ability to regenerate. A planarian worm split lengthwise or crosswise will regenerate into two separate living worms.

Aboobaker’s team studied two types of planarian - those that reproduce sexually, like humans, and those that reproduce asexually by simply dividing in two.

Both types appear to regenerate indefinitely by growing new muscles, skin, guts and even entire brains again and again, Aboobaker explained in a statement about the work, but the asexual ones also renew their stocks of a key enzyme which may mean they can be immortal.

Scientists know that one of the key factors associated with ageing cells is telomere length.

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ALWATAN DAILY

KUWAIT

WEDNESDAY, FEBRUARY 29, 2012

Interpellation announced in first Parliament session CONTINUED FROM PAGE 1

For his part, MP Adnan Abdulsamad wondered how the same MPs who are demanding an investigation into the deposits issue are the ones that stormed out of the previous Parliament when a similar request was tabled.

Foreign Minister and the Minister of State for Cabinet Affairs Sheikh Sabah Al-Khaled Al-Sabah argued that no one at the Parliament understands the tasks of the proposed investigation panel. He demanded that the request to be postponed in accordance with Article 148 of the Parliament’s Standing Order and Article 76 of the Constitution. The minister stated that there could be no agreement on something for which there are no details.

MP Musallam Al-Barrak affirmed that the multimillion-dinar issue shook the Kuwaiti society and led to the dissolution of Parliament and the resignation of the former government.

The MP stressed that the facts should be unearthed and the “bribers and the bribed” to be revealed.

The Parliament agreed to include a proposal that calls for the formation of an investigation committee and another one that has been previously submitted by the National Action Bloc and Hassan Johar for the same reason. The National Assembly is due to deliberate over the matter in two week’s time at the request of the government.

Furthermore, the Parliament nodded to another request by the government to defer considering to set up a committee to probe allegations of diesel smuggling for two weeks.

Al-Barrak commented on the issue, accusing the ministries of Oil and Finance of not be-

Committee Affairs of Illegal Residents

Affairs of Women and Family

Agriculture and Livestock Human Rights

Environment and Nuclear Energy Housing Negative Acts Alien to Kuwaiti Society

Disabilities and Special Needs

MP Saleh Ashour during the National Assembly session held on Tuesday, Feb. 28, 2012. The Minister Sheikh Jaber Al-Mubarak Al-Sabah. (Al Watan)

ing serious enough in stopping the purported smuggling.

MP Waleed Al-Tabtabaie described the government’s deferral requests as weird, and accused the government of not being serious about reforms.

In the meantime, the Parliament has agreed on the formation of eight provisional committees, which include a committee for human

rights, environment, people with special needs, housing, alien practices, Bedouns, women and agriculture.

However, the Deputy Speaker Khaled AlSultan referred a request for the formation of a committee for development to the National Assembly Office for further examination.

Additionally, the Parliament has agreed with a majority of 54 votes out of 56 to a re-

Al-Muwaizari, Minister of Oil meet to discuss solutions on land allocations Taha Ameen Staff Writer

KUWAIT: State Minister for Housing Affairs and Minister of National Assembly Affairs Shuaib Al-Muwaizari will meet tonight with Minister of Oil Hani Hussein to develop untraditional solutions to the housing problems, as the approval of oil sector is required to allocate lands for housing projects.

Sources at the Public Authority for Housing Welfare (PAHW) said that the meeting is an important one as it is expected to result in taking practical procedures concerning the housing projects, which have been on hold for years.

Observers see that the minister is serious about developing solutions to housing problems in order to reduce the period people have to wait until they receive their housing rights.

Al Watan was aware of the fact that Minister AlMuwaizari intends to achieve administrative and tech-

nical reforms within the coming period. At the same time, Al-Muwaizari instructed senior officials to submit reports within 60 days on the accomplishments made during the last period as well as solutions for the housing problems. Al-Muwaizari also seeks to receive information from senior officials and deputy directors about the State Organizational Structure which includes the lands allocated for housing projects.

Sources said that a file has remained hidden for a long time by Deputy Director for Distribution Saleh Al-Mulla, which contains the location of lands in different areas in Kuwait including Sabahiyah, Khitan and other areas.

Sources believe that this file could be one of the tools in the hands of Al-Muwaizari to provide more lands for housing projects.

Al-Muwaizeri is facing several challenges, but he has clearly announced that he is serious to address the housing problems or he would return to the parliament.

Kuwait Airways considers increasing prices to Europe by 2 Euros Sami Wadi Staff Writer

KUWAIT: Al Watan found out that Kuwait Airways Corporation (KAC) is considering the possibility of increasing ticket prices to European Union states by two Euros in order to be able to face the cost of the carbon tax imposed by EU on flights operating on its skies. This tax is globally rejected because it creates imbalance in markets and unfair competition.

Sources explained that the EU decision on imposing the tax, according to law No. EC/2008/101, contradicts with the relevant principles included in the United Nations Framework Convention on Climate Change (UNFCCC) and the principles of the Interna-

tional Civil Aviation Organization (ICAO), which urged representatives of several countries, including the US, to meet in Moscow Feb. 21-22 and issued a joint statement indicating that the decision will create imbalance in markets and unfair competition.

On Feb. 18, the World Travel & Tourism Council (WTTC) urged the UN not to apply a unilateral program to deal with emissions until a world solution is reached. The sources said that the Kuwait planes (Airbus A340 and Boeing B777) face no problems in European airports as KAC is committed to safety and security procedures and conducts maintenance before leaving Kuwait. But it takes longer time to check Airbus (A 300) so the KAC sends an engineer with the plane in order to speed up the checkup.

MP Al-Saqr plays pivotal role in returning citizens stranded in Failaka Abdullah Al-Najjar Staff Writer

KUWAIT: Ongoing investigations regarding the families stranded in Failaka island after the Eid break have revealed that the Kuwait Public Transport Corporation’s (KPTC) ferries have failed to transport them back. Al Watan reported that MP Mohammad Al-Saqr played a pivotal role in alerting the concerned authorities to help bring back the families from the island after being stranded for more than 24 hours. It has been reported that an employee at the island, on the deplorable sight of the passengers, contacted MP AlSaqr and informed him of the plight of the families amid the cold weather. The MP immediately contact-

quest to re-investigate seven issues pertaining to the Russian loan issue, the alignment of Kuwait Investment Authority’s budget, malpractices of the Public Authority for Youth and Sports, misappropriation of public funds, the rent value of the headquarters of the Asian Olympic Council and irregularities involving the Offset National Company.

In response, MP Mustafa Al-Shamali asserted that Russian loan issue is over and that the loan has been fully paid off in full. The minister told the MPs that the Parliament is not an open police station to mount investigations, while stressing that the government has no problem

Members Mohammad Al-Khalifa, Adel Al-Damkhi, Nayef AlAjmi, Mohammad Hayef, and Abdulhameed Dashti Abdullah Al-Turaiji, Mohammad Al-Dallal, Mohammad Al-Kandari, Abdulatif Al-Omairi and Saleh Ashour Menawer Al-Azmi, Mubarak Al-Waalan, Bader AlDahoum, Saifi Al-Saifi and Mohammad Al-Juwaihel Adel Al-Damkhi, Waleed Al-Tabtabaei, Faisal AlYahya, Mohammad Hayef and Abdulhameed Dashti Abdulrahman Al-Anjari, Ali Al-Omair, Hamad AlMattar, Falah Al-Sawagh and Marzouq Al-Ghanim Ali Al-Rashed, Nabil Al-Fadhel, Ahmad Al-Azmi, Salem Namlan and Abdullah Al-Barghash Mohammad Hayef, Osama Al-Menawer, Waleed Al-Tabtabaei, Bader Al-Dahoum and Adel AlDamkhi.

Ammar Al-Ajmi, Shaye Al-Shaye, Musallam AlBarrak, Jamaan Al-Harbash and Khaled Al-Mutairi with investigations.

MP Khaled Al-Tahous fired back at the minister, saying that his “toppling from the government is as easy as drinking water.”

In another development, the Minister of State for National Assembly Affairs Shuaib AlMuwaizri told the MPs that the government is keen on creating a form of consensus and lends a hand of cooperation in the best interest of the country and the people.

“I am not here to flatter anybody. If the government doesn’t cooperate, I will be the first to stand against it,” the minister addressed the Parliament.

Warm weather, southern wind today, tomorrow

KUWAIT: An official at the Kuwait Meteorological Center says that the weather could reach a temperature of 24 degrees Celsius today and tomorrow. It will be sunny with a slow to medium wind speed from a south easterly direction. However, forecasts predict a chance of rain in the afternoon today and tomorrow with a possibility of some dust in the atmosphere coming from the western parts of the country. The official warned that visibility will be low because of the wind, with possibility that the dust will settle by night. Moreover, he revealed that late Friday night and Saturday dawn will witness cold wind accompanied by dust. -KUNA

Amir to attend UNESCO ceremony KUWAIT: UNESCO/late Amir Sheikh Jaber Al-Ahmad Al-Jaber Al-Sabah Prize to Promote Quality Education for Persons with Intellectual Disabilities 2011, will hold its award ceremony today, Wednesday, under the patronage and the presence of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah at 10:30 am on Kuwait University theater in Khaldiya. -KUNA

Kuwait to promote Arab joint action during Arab League council presidency

CAIRO: Kuwait’s permanent delegate to the Arab League Ambassador Jamal Mohammad Al-Ghonim said his country is keen on promoting the process of Arab cooperation in all fields during its presidency of the 137th session of the League’s Foreign Ministers’ Council, which starts on March 10.

Speaking to Kuwait News Agency (KUNA) here on Tuesday, Al-Ghonim said: “Deputy Prime Minister, Foreign Minister and Minister of State for Cabinet Affairs Sheikh instructed Kuwait’s diplomatic mission to the League to double efforts to remove all obstacles facing Arab joint action.” “This stance stems from the fundamentals of the country’s foreign policy outlined by His Highness the Amir

Sheikh Sabah Al-Ahmad Al-Sabah,” he pointed out.

“The League’s Foreign Ministers’ Council will convene a meeting on the permanent-delegate level on March 7 at the League’s headquarters here in Cairo,” Al-Ghonim said.

He expressed his pride concerning the fact that Kuwait will head the next term, and said that such a responsibility shows the league’s trust in Kuwait and its abilities to make contributions to the rise of the Arab nation.

Moreover, he pointed out that the agenda of the league includes preparations for the next Arab summit that will be held in Baghdad on March 29 and the political developments regarding the Pal-

estinian issue; particularly the Jerusalem and Israeli settlements. He mentioned that the council will discuss causes issues related to reinforcing peace and development in Sudan and Somalia in addition to deliberating the Arab relationships with regional and international alliances.

Furthermore, Al-Ghoneim revealed that the Syrian issue will also be discussed, since the status of civilians in Syria is extremely alarming and has severe impact on the regional and international peace and security. Qatar will continue to act as presidency of the Arab ministerial committee on the Syrian crisis, formed by the council during its 136th session, until a solution is reached on the crisis, he added. -KUNA

Developmental joint committee to be established on Thursday

ed the communications minister to inquire about the failure of the ferries to transport the stranded citizens back. It has been gathered that there are legal violations involving the ministry and KPTC which prevents the ferries from sailing to Failaka.

As a result, the lawmaker contacted the First Deputy Prime Minister and Minister of Interior Sheikh Ahmad Al-Humoud Al-Sabah informing him of the plight of the citizens who were stranded on the island with their families due to the lack of ferries and that the Operations room has received scores of distress calls.

Instructions were given to the Coast Guard to send off large boats to transport the concerned citizens, which ended their plight.

Kuwait calls for harnessing all means to protect Syrian people GENEVA: Kuwait has called for the use of all possible means to stop the ‘massacre’ in Syria and to help improve the humanitarian situation of the Syrian people. Permanent Representative of Kuwait to the United Nations in Geneva Ambassador Dharar Razzouqi said in a speech, before a panel dedicated for the discussion of the Syrian Human Rights, that Kuwait would like to join all efforts to bring emergency humanitarian aid to Syria.

He stressed that Kuwait considers the importance of exerting all efforts to find a peaceful solution on the basis of the Arab initiative.

At the same time, he pointed out that the International Commission of Inquiry for Syria in its report confirmed the occurrence of persistent, widespread and systematic human rights abuse and the use of force against civilians, saying that the Syrian authorities failed to protect its citizens.

He quoted from the committee report some credible evidence that identifies senior officials in the Syr-

ian armed forces who have ordered their subordinates to shoot unarmed protestors and kill the soldiers who refuse to obey such orders as well as arrest people randomly in addition to mistreatment of detainees and attacking civilian neighborhoods with tank fire and machine guns randomly.

He explained that the human rights situation in Syria has deteriorated significantly since November 2011 and “what has been mentioned in the report is obvious to us every day through various media and no single party can hide.” He expressed strong condemnation of the State of Kuwait for the violations carried out by the Syrian authorities and the ongoing and extensive human rights abuses.

Razzouqi added that “the authorities in Syria, alas, rejected all initiatives, including the Arab Plan of Action, which was aimed at a transitional stage where a government of national unity could have been formed including all components of the Syrian people in order to move Syria to safety”. -KUNA

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KUWAIT: The Minister of Public Works and Minister of State for Planning and Development Affairs Fadhel Safar issued a decision of establishing a joint committee that includes the Supreme Council for Planning and Development

and the Ministry of Information to highlight various developmental programs.

The Minister, in a press release on Tuesday, said that executive authorities are facing a challenge of managing new media means to focus on the successful

and prestigious experiences in government institutions.

The new committee will start functioning by holding it first meeting next Thursday at the General Secretariat of the Supreme Council for Planning. -KUNA

ALWATAN DAILY

KUWAIT

WEDNESDAY, FEBRUARY 29, 2012

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‘Kuwaiti patients in Germany to receive allowances from banks’ Al-Waalan: Minister of Defense should combat corruption in ministry instead of taking improvised inhumane decisions Staff Writers

KUWAIT: Head of Health Bureau in Germany Sulaiman Al-Harbash stated that he regained eight million Euros for the Ministry of Health, and announced that Kuwaiti patients receiving medical treatment in German hospitals can collect their allowances from German banks

starting April 1st. He added that the Kuwaiti health bureau in Frankfurt managed to regain the aforementioned sum of money, and revealed that the bureau was indebted by around 7.2 million Euros to German hospitals. He explained that the budget’s surplus and the payment of all due debts was a result of a carefully planned financial plan that he has been following since he was appointed in his current post. He went on to say that the bureau hired a German physician as an auditor to review the bills, which led to discovering many loopholes and errors. He explained that after those errors were corrected, 2.3 million Euros were saved.

Moreover, he said that all Kuwaiti citizens who were sent to Germany to receive medical treatment can collect their allowances starting April from German banks through their bank accounts, after the completion of the new accounting system. He noted that this accounting system has been designed by the Financial Department at the Ministry of Health and the health bureau in Germany,

and that it will replace the old system that patients complained about in the past. He mentioned that the Ministry of Health decided to open a bank account in a German bank, in order to facilitate the financial process, where patients can receive their allowances from this account. He remarked that the bureau works with Germany’s second largest bank that has many branches that are close to the hospitals where Kuwaitis receive treatment in Germany.

In related news, Member of Parliament (MP) Mubarak Al-Waalan criticized Minister of Defense Sheikh Ahmad Al-Khaled for banning overseas medical treatment, which changed the plans for many Kuwaitis who were supposed to travel to receive medical treatment.

Al-Waalan condemned the minister for taking such improvised, inhumane decisions, without taking into consideration the medical requirements of those patients. He warned that such haphazard decisions will not go unpunished, and asked the minister to change his way of thinking, since he now holds a political post. He went on to

Tighter security measures paid off: Ministry of Interior

Engineers Society urges coordinated efforts to raise traffic awareness

Abdullah Al-Mufrih

Staff Writer

Staff Writer

KUWAIT: The role of the police officers and the security apparatus in organizing the national festivals and the related events has had the praise and applaud of both expatriates and citizens.

This year’s celebration is marked by the unmistakable number of incidents, thanks to the tight security measures and constant warnings of the Ministry of Interior and repeated awareness promotion it carried out highlighting the possible violations that can be committed.

The ministry of interior also made stern warnings against those who attempt to break the regulations and the country’s ban on the use of certain items which had been used in previous years such as the use of the foam sprays and other similar items which had caused great inconvenience for the innocent participants of the festivals.

The Ministry of Interior had made similar strong warnings against joy driving.The Police had already cited many traffic violations and several vehicles were confiscated. Owners were charged with repeated offences of reckless car driving.

Sources affirmed to Al Watan that the traffic citations during the festive season alone exceeded ten thousands with hundreds of cars withheld by the police.

Sources put the exact number of traffic citation to have been estimated 12, 515 and the vehicles taken by the police were about 644 vehicles and 21 motorbikes. Two juveniles were taken in

KUWAIT: The Transport and Traffic Committee at the Kuwait Society of Engineers (KSE) called for the cooperation of the authorities concerned with raising traffic awareness.

The committee indicated that 2011 witnessed about 493 traffic-related deaths, describing the figure as very huge.

It further noted that last year’s figures saw an increase of 38 percent in contrast with

2010, adding that there is an average of one accident per day.

The committee urged for a serious pause to minimize these accidents, in accordance with a streamlined vision, particularly since the youth makes up the majority of casualties.

Speaking to Al Watan, Engineer Aziz Al-Thafiri stated that the society will continue its awareness campaigns regarding the importance of adhering to rules and regulations.

Fears, concerns over livestock export: Al-Jarallah Mahmoud Abdulrazzaq Staff Writer

Youth are seen celebrating during a car parade the national festivals of Kuwait’s Independence and Liberation days on Feb. 26, 2012. (Al Watan)

by the authorities for criminal activities.

Medical sources said that they had to deal with 166 cases 26 of which were taken to hospital and 20 of them were the direct result of car accidents. Sources pointed out that the number of car

related accidents sharply risen on the last of the festivals. Reports show that three children, two adults and three expats were overrun by vehicles.

All victims were treated. There were no reports of fatalities.

Power, water systems to undergo plans in preparation for summer Wafaa Qansour Staff Writer

KUWAIT: Minister of Electricity and Water and Minister of Municipality Affairs Abdulaziz AlIbrahim asserted that the ministry has plans for the approaching summer, and that those plans will be revealed after being properly assessed, in order to ensure quality service.

It is worth noting that the minister made those statements while taking part in Brunei’s national festivals at the Embassy of Brunei in Kuwait. AlIbrahim mentioned that he is unaware of any projects between Brunei and Kuwait, since he has recently received his new post. However, he stressed that Kuwait is eager to maintain strong economic relationships with other countries, such as Brunei, and congratulated Brunei for its national festivals.

Meanwhile Brunei’s ambassador to Kuwait Pengiran Haji Mustapa Pg Aliuddinunderlined the strong relationships that bind Kuwait and Brunei.

He said that the visit that was made by the former Prime Minister Sheikh Nasser Al-Mohammad in 2008 served as a platform for the further development between the two countries; especially after many memorandums were signed. He went on to say that relationships were further enhanced after Kuwait opened its embassy in Brunei in 2009, and applauded Kuwait for its efforts in various fields.

He explained that Brunei has begun to adopt an open door policy regarding the economy, in order to diversify its sources of income and to limit its reliance on oil and gas.

say that Al-Khaled is not in the army anymore, and that he should take decisions based on that fact. He stressed that Al-Khaled should have respected the decisions taken earlier by his predecessor, and mentioned that Al-Khaled should address the corruption that is rampant in his ministry instead of taking such inconsiderate decisions.

Meanwhile, Al-Waalan praised the efforts exerted by Minister of Interior Sheikh Ahmad Al-Humoud and his men working at the borders, and asserted that the police is Kuwait’s shield that fends off dangers. He noted that although interpellations are a Constitutional right, he is against filing interpellations based on hidden sectarian agendas.

He explained that he is willing to support any fellow MP in any interpellation, given that this interpellation is based on political grounds.

Furthermore, he rejected threats made by some to be exempted from abiding by the law, and called people in Kuwait to respect the law.

Minister of Electricity and Water and Minister of Municipality Affairs Abdulaziz Al-Ibrahim and Brunei’s ambassador to Kuwait Pengiran Haji Mustapa Pg Aliuddin during a celebration held by the embassy. (Al Watan)

Kuwait, Brazil discuss energy cooperation BRASILIA: Kuwait Ambassador to Brazil Ahmad Abdulsamad met here Tuesday with Brazilian Minister of Mines and Energy Edison Lobao, discussing with him issues concerning bolstering cooperation within the energy field and the petroleum sector.

The two officials lauded previous collaborations between the two sides, especially within the oil and petroleum domain, hoping that such cooperation would be further expanded in the future.

Ambassador Abdulsamad and Minister Lobao focused during their meeting on the upcoming fifth International Energy Forum (IEF) to be held in Kuwait on March 12-14 under the patronage of His Highness the Amir Sheikh Sabah AlAhmad Al-Jaber Al-Sabah. Abdulsamad affirmed that Kuwait is keen on holding such event so as to encourage discussions between energy consumers and producers. -KUNA

KUWAIT: The CEO and Managing Director of Live Stock Trading and Transporting Company Bader Al-Jarallah expressed his concerns over fears that Australia may halt its exports of livestock to Kuwait, as well as other regional countries, and may possibly replace it with frozen meat, following the policies adopted by New Zealand in 2000.

Al-Jarrallah said that Australia has put forward impossible terms and conditions for the export of its livestock after it had been subjected to tremendous pressure from animal rights groups to stop exporting to the Middle East. Part

of the terms and conditions are to have total control over the slaughter houses as well as to provide better conditions in the vessels transporting them.

On its part, the Australian Farm Weekly magazine hinted that exporting sheep to Kuwait, Bahrain, Qatar and Turkey may stop altogether by next month as those countries reportedly disabuse the livestock.

The Australian Council in charge of exporting livestock is getting increasingly uncomfortable with the ban as this would certainly hurt the revenue, bearing in mind that last year the total cost of the export generated more than 123 million Australian dollars for only 965,000 sheep.

Retailers, shopkeepers want Hala February festival extended KUWAIT: A number of retailers and shopkeepers have called for extending the promotional festival held on the sidelines of Hala February 2012 to contribute to the revitalization of business and commercial movement in Kuwait during this period.

They stressed in remarks to the Hala February 2012’s media committee on Tuesday that the festival has succeeded in attracting the public and stimulating the movement of sales at participating stores, noting that the organizers of the festival worked hard to provide events that give shopping another concept linked to fun and entertainment.

They noted that these activities also contributed to the revitalization of the public’s demand for shops and shopping malls which reflected positively on the proportion of sales and profits during the last days of the festival.

Director of one of the shops Wajdi Ibrahim said the Hala February’s promotional festival is growing in sales at a rate ranging between 20 and 35 percent in an effort to take advantage of offers and discounts offered by the shops participating in the festival.

He pointed out that there is great interest on the part of shop owners to provide all brands and tastes of the goods to satisfy all groups.

For his part, Karem Al-Qaram, a store manager, said that most traders are anxiously awaiting the Hala February festival every year to participate in it because it is a good opportunity to promote their products, especially in light of the recession taking place in markets affected by the global financial crisis. -KUNA

Al-Duwaisan: Kuwaiti-British commercial volume doubles Tahani Al-Metairie Staff Writer

KUWAIT: The Dean of the Diplomatic Corps and the Kuwaiti Ambassador to the United Kingdom Khalid Al-Duwaisan expressed his congratulations to His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah, His Highness the Crown Prince, His Highness the Prime Minister, Ministers and members of Parliament (MPs) on the occasion of the Liberation and the Independence days.

Al-Duwaisan said, during the festival ‘Our souls are the fence of our country’ which was organized by students’ association in the UK and Ireland, that the distinguished Kuwaiti-British ties lasted for decades since signing the agreement of 1899 which can be considered as the corner stone of the Kuwaiti-British ties.

That agreement played an important role in protecting Kuwait from foreign dangers as well.

The UK also helped Kuwait after the World War II to extract and export oil where then the ties between the two countries got stronger later on in different fields.

During the festival which was attended by the MP Marzouq Al-Ghanim, the former MP Naser Al-Sanae and many other figures, Al-Duwaisan added that the UK was the first country to condemn the Iraqi invasion against Kuwait and Kuwait appreciates such great stand especially since the UK had sent forces to contribute in liberating Kuwait too.

Kuwait also had signed an Memorandum of Understanding (MoU) with the UK following independence and since that time the KuwaitiBritish ties kept developing in different fields

particularly in political, commercial, economic, investment and cultural field.

He added that the commercial volume had doubled in the last stage besides to the rapid increase in cultural exchange wherein more than 2500 Kuwaiti citizens headed to study in the UK. The health cooperation has also developed in which the UK receives many Kuwaiti patients to be treated there. Moreover, Kuwaiti citizens own more than 10,000 houses and flats in the UK, which reflects the distinguished ties between the two sides.

On his part, the Head of the Administrative Staff in Kuwait National Student Association UK Branch, Mohammed Al-Azmi said that the association organizes such activities to enable the Kuwaiti students to meet each other and celebrate national occasions.

ALWATAN DAILY

REGIONAL

4

Black Water

By Hossam Fathi

KUWAIT: Can anyone with any common sense believe that a ruler’s treason can descend to the level of hiring mercenaries to kill his own people, in order to secure his presidency on the skulls and blood of the innocent? Can anyone believe that Mubarak hired the notorious Black Water to assist him in overcoming the rebels?

In light of the current fogginess and lack of information that we have been living in since the revolution, anything can be possible; even a disaster like this.

The very same Black Water, which media has reported on, whose mercenaries are accused of committing genocide in Iraq, not to mention being hired by the regimes of other Arab countries to execute military operations, such as training the rebels of South Sudan, Afghanistan and Kosovo. Black Water includes high caliber former CIA, Marines, and Pentagon personnel.

Can a Muslim ruler hire these individuals to butcher his own people?

Claims made about this infamous organization lend it the most violent and ferocious reputation of all private security companies. Black Water has killed numerous Iraqi civilians, and its crimes went unpunished, not only that, they were even supported by the United States administration in the year 2007. hossam@alwatan.com.kw Twitter:@hossamfathy66

Egypt court throws out case against tycoon Sawiris

CAIRO: An Egyptian court on Tuesday threw out a case brought against telecoms tycoon and liberal politician Naguib Sawiris by a group of lawyers who accused him of showing contempt for religion, saying the plaintiffs had no legal standing in the case.The lawyers had brought the case against Sawiris, a prominent figure in Egypt’s Coptic Christian community, over a cartoon he posted online that they considered an insult to Islam. Sawiris, chairman and founder of the mobile phone operator Mobinil, tweeted a cartoon in June of Mickey Mouse with a long beard and Minnie Mouse veiled in black. The court, headed by Judge Ehab Yousry, dismissed the case against Sawiris on the ground that it had been filed by individuals who “lack legal standing”. -Reuters

Iran diplomats visit suspects of Thai bombings TEHRAN: Iranian diplomats have visited three Iranian suspects implicated in a series of bomb explosions in Thailand, the foreign ministry said on Tuesday according to the Fars news agency. Iran’s deputy foreign minister in charge of Asia and Oceanic affairs, Abbas Araqchi, was quoted as saying of the Feb. 14 explosions in Bangkok: “We still do not know who is behind this and why they have done it.” “The dimensions of this issue are not clear for us and there are ambiguities about this issue, and it seems that the scenario was devised by the Zionists (Israelis) to involve Iran in a new misdeed,” he said. Thai police have said the bombings were part of an alleged plot to kill Israeli diplomats, in a similar fashion to failed attempts on Israeli diplomats in India and Georgia. -AFP

Abbas in Turkey for Mideast talks ANKARA: Palestinian president Mahmud Abbas was expected to arrive in Turkey late Tuesday to discuss the Middle East peace process with senior officials, Anatolia news agency reported. Abbas’ three-day visit comes after he and rival Hamas leader Khaled Meshaal on Thursday postponed talks on forming a unified government, in a further delay to ending an almost five-year rift. “Abbas is going to discuss developments in the Middle East, as well as the peace process in the region and political consensus within Palestinian bodies,” diplomats told AFP. He is to meet Turkish President Abdullah Gul and Prime Minister Recep Tayyip Erdogan on Wednesday after talks with Foreign Minister Ahmet Davutoglu on Tuesday evening. -AFP

WEDNESDAY, FEBRUARY 29, 2012

Syrian military pounds rebel areas, foreign journalists escape Tunisia says ready to give asylum to Syria’s Al-Assad

AMMAN: Syrian forces shelled an opposition stronghold in Hama province, killing 20 people, on Tuesday and hit rebel-held parts of Homs, activists said, as two wounded foreign journalists trapped in the city were reported to have been smuggled safely to Lebanon.

President Bashar Al-Assad sent units of an elite armored division, which is led by his brother Maher, into Homs overnight, activists said. Tanks with the words “Fourth Division Monsters” painted on them moved close to the besieged Baba Amr district.

French journalist Edith Bouvier and British photographer Paul Conroy, both wounded last week in an attack in Baba Amr, were now safe in Lebanon, a diplomat and opposition sources said. It was not clear how they escaped.

In Hama province, security forces bombarded the town of Helfaya, a hotbed of protests in the uprising against Al-Assad.

Activists said the 20 deaths of Sunni Muslim villagers there were among at least 100 killed in the province in the last two weeks in revenge for rebel Free Syrian Army attacks on security forces commanded by members of Al-Assad’s minority Alawite sect.

The reports could not be independently confirmed. Syrian authorities tightly restrict media access to the country.

Syrian forces on Tuesday launched the heaviest bombardment in their three-week assault on Baba Amr, activists said.

Al-Assad, projecting an aura of normality in a land ravaged by 11 months of conflict over his right to power, decreed that a new constitution was in force on Tuesday after officials said nearly 90 percent of voters had endorsed it in a referendum.

Opposition groups and Western leaders seeking Al-Assad’s removal denounced Sunday’s vote as a charade that diverted attention from the violence in Homs and elsewhere.

Al-Assad’s government had “broken all the limits of barbarism,” French Foreign Minister Alain Juppe said.

“And when I see the Syrian president paraded around this voting station in Damascus for this phony referendum, it makes you deeply indignant,” he told RTL radio.

Foreign powers have argued over whether to arm Syrian rebels trying to resist Al-Assad’s forces, but there is little appetite in the West for any Libya-style military intervention. Qatar joined

Men march during the funeral of Mohamed Ammar, who was killed by Syrian Army, in Al-Qusayr Feb. 28, 2012. (Reuters)

Saudi Arabia on Monday in advocating arming the Syrian rebels.

“We should do whatever is necessary to help them, including giving them weapons to defend themselves,” Qatari Prime Minister Sheikh Hamad bin Jassim Al-Thani said in Oslo.

The Syrian leader says the new constitution will lead to multi-party elections within three months. The document drops a clause making Syria’s Baath party the leader of state and society, allows political pluralism and limits a president to two sevenyear terms.

But this restriction is not retroactive, implying that Al-Assad, 46 and already in power since 2000, could serve two further

Islamist voted speaker of Egypt’s upper house CAIRO: Egypt’s newly elected upper house of parliament picked an Islamist as its speaker on Tuesday, consolidating control by the Muslim Brotherhood’s Freedom and Justice Party over the two legislative chambers. The election of pharmacology professor Ahmed Fahmy as speaker of the Shura Council came during the chamber’s inaugural session. Saad El-Katatni, like Fahmy a member of the Freedom and Justice Party, was elected speaker of the more powerful lower house, or People’s Assembly, on Jan. 23.

The Muslim Brotherhood is Egypt’s oldest and most powerful Islamic organization. Its Freedom and Justice Party members hold just under half of all seats in the 508-seat lower house and 106 of the Shura Council’s 180 elected seats. An additional 90 lawmakers are due to be appointed by the ruling generals who took over power when Egypt’s longtime authoritarian president Hosni Mubarak was ousted after a popular uprising a year ago.

The generals are expected to leave the appointments to the nation’s next president, due to be elected

before the end of June. Then the generals say they will hand over power to a civilian government.

Ultra-orthodox Islamists known as Salafis made strong showings in elections for both chambers, finishing second behind the Freedom and Justice Party and giving parliament a distinct Islamic character. The two houses are due to hold a joint session later this week to select a 100-member panel to draft a new constitution, the main role of the chambers, chosen in Egypt’s first free elections in decades.

Liberal and secular activists who spearheaded the mass demonstrations that toppled Mubarak last February fared poorly in the election for the Shura Council, repeating their failure in voting for the People’s Assembly. As was the case when the People’s Assembly held its first session, Salafi members of the Shura Council improvised when taking their oath of office on Tuesday.

The oath ends with a pledge to respect the constitution and the law, but several of them added “God’s law” or said “as long as there are no contradictions with God’s law.” -AP

South Sudan rebels sign truce deal with government

CAPITALS: South Sudan has signed a ceasefire with the largest of several rebel groups which threaten the stability of the world’s newest nation, the government said on Tuesday.

The deal to integrate an estimated 1,800 guerrilla fighters into the South’s army comes after rebel chief and renegade general George Athor was killed by government forces in December. “The Republic of South Sudan has signed an agreement with the former rebels of George Athor, in which they have agreed to the amnesty laid down by President Salva Kiir,” Information Minister Barnaba Marial Benjamin told AFP. The pact was signed on Monday in Pigi county, a rebel base in the troubled eastern state of Jonglei.

“They immediately declared a ceasefire after the signing,” Benjamin added. Rebel spokesman James Nuot said their forces would integrate into the South’s army after leaders were promised senior positions in the government and military, without giving further details. “We reached agreement because we decided to reconcile with the government, and because the government accepted what we need from them,” Nuot told AFP. South Sudan had accused Athor of acting on behalf of Sudan in a bid to destabilize the country, which won independence in July after the end of a two-decade civil war with Khartoum. Despite a peaceful split, both nations accuse each other of funding proxy rebel groups across their borders.

South Sudan has long claimed that the north backed Athor, a charge he denied. “This is the biggest of South Sudan’s rebel groups, and they will not be used by Khartoum any longer to destabilize South Sudan,” Benjamin said.

Athor rebelled in April 2010 after claiming that electoral fraud cheated him out of the governor’s post in Jonglei. “Our forces were not funded by Khartoum - we get our own things differently,” Nuot said, without elaborating. Kiir’s amnesty has encouraged several groups to end their rebellions but Athor’s militia - the South Sudan Democratic Movement/ Army (SSDM/A) - had long been the grand prize for South Sudan. Instability is a major stumbling block for the new nation, and the guerrilla army turned government is unable to give estimates on how many rebel groups it is battling.

Benjamin said that negotiations with the rebels started before Athor was shot dead in a clash with a border patrol, after allegedly going on a recruitment drive in Central Equatoria state. -AFP

terms after his current one expires in 2014.

The opposition dismisses the reforms on offer, saying that Al-Assad, and his father who ruled for 30 years before him, have long paid only lip service to existing legal obligations.

Meanwhile, Tunisia offered on Tuesday to give Syrian President Bashar Al-Assad political asylum if that helps to end a crackdown on the uprising against his rule.

“Tunisia is ready in principle to grant political asylum to Bashar Al-Assad and his family if this proposal will contribute to stopping the bloodshed,” Adnen Monssar, an aide to President Moncef Al-Marzouki told Reuters. -Reuters

Israel kills armed infiltrator from Sinai: Army

JERUSALEM: Israeli forces engaged in a firefight overnight with gunmen who infiltrated from Egypt’s Sinai peninsula, killing one, the Israeli military said on Tuesday. “Soldiers patrolling along the Israel-Egypt border identified a number of suspects who had infiltrated into Israel,” the military said in a statement.

“The suspects fired at the soldiers, who returned fire and identified a hit,” the statement added, saying all but one member of the group escaped back into Egypt.

“Upon the arrival of an IDF (Israeli Defense Force) medical force to the location of the incident, they determined the death of the injured suspect.”

The incident is the latest in a string of apparent attempts by militants to infiltrate Israel via its border with Egypt, according to the Israeli military.

On Feb. 21, troops interrupted an apparent smuggling attempt during which a man hurled a bag containing explosives at soldiers.

The bag failed to detonate and the suspect was able to escape, the army said. And on Feb. 23, in the same border area where the latest shootout occurred, Israeli troops discovered a bag containing a large explosive device after unsuccessfully attempting to detain an infiltrator.

Border security incidents have increased in recent months as Israel has warned that lawlessness in post-revolution Egypt is allowing militants to use Sinai to stage attacks against the Jewish state.

It accuses militants based in Gaza of using the long border between Egypt and Israel to infiltrate and carry out attacks, including one last August in which gunmen launched coordinated ambushes on vehicles in Sinai, killing eight Israelis.

Israel is building a giant steel security barrier along the frontier, which is due to be completed by the end of this year. -AFP

Iran says expects talks with IAEA to continue

An Israeli soldier detains a Palestinian man from the village of Farata after masked Jewish settlers from the Havat Gilad nearby settlement threw stones at Palestinian villagers, east of the West Bank city of Qalqilya, on Feb. 28, 2012. (AFP)

Elders negotiating end to southeast Libya clashes TRIPOLI: Tribal elders from around Libya are negotiating an end to clashes in the far southeast of the country which have killed dozens of people in the last two weeks, one of the tribes said on Tuesday.

Fighting in the city of Al Kufra between two tribes with a long-standing rivalry has provided a fresh challenge for Libya’s new leadership which is struggling to restore stability after the overthrow of Muammar Gadhafi last year. Libyan military forces last week intervened to end the fighting between the Zwai and Tibu tribes, in a rare example of the government in Tripoli imposing its authority over the fractious country.

“Elders from southern and eastern Libya have come to Kufra and are meeting with both sides,” Abubaker Sadeq from the Tibu side said.

“We hope an agreement will be reached in the next few days to sort the problem out once and for all. For now, it is quiet,” he said, referring to a ceasefire brokered a few days ago.

The United Nations said in a statement on Monday that more than 100 people had been killed in the fighting in Kufra, near Libya’s borders with Chad and Sudan, and as much as half of the city’s population had

been displaced.

“The (UN) assessment mission reported that the ceasefire brokered by local authorities a few days ago is still holding. However, the situation in Kufra remains tense,” it said.

“Based on the information received on the ground from both sides, more than 100 have been killed as a result of fighting, and as much as half of the town’s population has sought refuge elsewhere. Some 200 foreign migrants are still waiting to be moved out from the area.”

The UN added it had provided food, medicine, mattresses, blankets and hygiene kits to vulnerable communities whose basic services have been interrupted by fighting.

Members of the Tibu ethnic group are mainly found in Chad but also inhabit parts of southern Libya. The Zwai tribe accused the Tibu of attacking Kufra, backed by mercenaries from Chad.

The Tibu said it was they who came under attack.

The region has a history of violence involving tribes. A tribal rebellion in 2009 was suppressed only after Gadhafi sent in helicopter gunships. -Reuters

GENEVA: Iran said on Tuesday that it expected talks with the watchdog International Atomic Energy Agency (IAEA) to continue and it was optimistic that they would proceed in the right direction.

In the latest high-level talks between the IAEA and Iran, conducted in Tehran in January and February, Iranian officials stuck to a refusal to address intelligence reports about covert research relevant to developing nuclear weapons. Iran says its nuclear program is for peaceful energy purposes only. “We expect the dialogue that has started will continue,” Iran’s Foreign Minister Ali Akbar Salehi told reporters after giving a speech to the UNsponsored Conference on Disarmament. “There was some disagreement on drafting an initial framework that would set the ground for a new roadmap as how to proceed.

“We are optimistic,” he added, “that upcoming meetings between the high delegation of the IAEA and the Iranian (side) will be proceeding hopefully in the right direction.” The IAEA said that, given Iran’s unwillingness to tackle the allegations of research with military nuclear applications, no further talks were scheduled.

Salehi also accused the West of double standards for backing Iran’s archenemy Israel, the only Middle East state outside the nuclear Non-Proliferation Treaty (NPT) and widely believed to be have the only nuclear arsenal in the region. “We have clearly stated time and time again there are two alternatives in dealing with the Iranian peaceful nuclear program. One way is engagement, cooperation and interaction. The other is confrontation and conflict,” Salehi said. “...Iran is confident of the peaceful nature of its program and has always insisted on the first alternative. When it comes to our relevant rights and obligations, our consistent position is that Iran does not seek confrontation, nor does it want anything beyond its inalienable, legitimate rights.” Western diplomats briefed on the UN agency’s latest talks in Tehran said the Iranian side had dismissed as baseless the inspectors mounting concerns about possible military aspects to the Islamic state’s uranium enrichment program.

The lack of progress in getting Tehran to start responding to the suspicions was a clear indication that it is “not serious at all in entering any meaningful negotiation” on the disputed program, one Vienna-based envoy said.

Another Vienna-based official familiar with the issue said the IAEA team had asked for Iran’s initial position on issues raised by the UN agency in a detailed November report that pointed to a possible covert nuclear weapons agenda in Iran. -Reuters

ALWATAN DAILY

WORLD

WEDNESDAY, FEBRUARY 29, 2012

UK police arrest 20 as they dismantle Occupy camp LONDON: Authorities dismantled Occupy London’s camp outside the famous St. Paul’s Cathedral in a dramatic early hours raid Tuesday, clearing away one of the longest-surviving encampments inspired by the New York protest against capitalist excess.

The City of London police said 20 people had been arrested as officers removed tents and equipment from outside the 300-year-old church, where demonstrators had camped since mid-October.

As riot police surrounded the encampment, bailiffs in fluorescent jackets hauled camping equipment into waiting trucks and refuse bins - though there was little sign of the violence that has accompanied the clearance of several Occupy sites in the US. Protesters waved flags and banged tambourines, though a small number crafted a makeshift wooden structure opposite the cathedral and scaled it in an attempt to obstruct the eviction.

Britain’s High Court last Wednesday rejected the protesters’ legal challenge to an eviction order. Local authorities claimed the camp had harmed nearby businesses, caused waste and hygiene problems, and attracted crime and disorder.

“It’s really sad what’s happening today but I think we can be proud of what we’ve achieved,” said Kai Wargalla, a 27-year-old student from Germany who had camped outside St. Paul’s since October. “Our community is being attacked here, but we’re going to reconvene and come back stronger.”

Wargalla said she expected some demon-

Bailiffs remove tents from the Occupy encampment in front of St Paul’s Cathedral in London Feb. 28. (Reuters)

strators to join a smaller protest camp at Finsbury Square, close to financial and legal companies in central London. Others insisted that protesters would return to continue to meet outside St. Paul’s, though they would no longer attempt to camp there.

“It’s only tents and materials the injunction

applies to so I think some protesters will be back,” said demonstrator Gary Sherborne, 50.

The City of London Corporation, the local authority that secured the eviction, said it hoped to reopen the area around St. Paul’s to tourists and local workers as soon as possible. Parts of surrounding streets had been

barricaded to contain the size of the encampment.

“It is regrettable that it had to come to the need for removal but the High Court judgment speaks for itself,” said Stuart Fraser, of the City of London Corporation. “The site has now been cleared and the area is undergoing a deep clean.”

Protesters set up camp outside the cathedral after they were thwarted in an attempt to demonstrate in front of the nearby London Stock Exchange.

Their proximity to Christopher Wren’s architectural icon embroiled the church in a conflict between bank-bashing protesters and the city’s finance industry. The church’s position on the protesters has shifted several times, and the cathedral’s dean and a senior priest both resigned over the impasse.

“Riot police clearing the steps of St. Paul’s Cathedral was a terrible sight. This is a sad day for the Church,” said Giles Fraser, who resigned as canon chancellor of St. Paul’s in solidarity with the protesters.

In a statement, St Paul’s Cathedral said clergy were available to provide support to those involved in the eviction. “We regret the camp had to be removed by bailiffs but we are fully committed to continuing to promote these issues through our worship, teaching and Institute,” the statement said, It said that dialogue between protesters and clergy since the camp was opened had seen both sides “re-examine important issues about social and economic justice and the role the cathedral can play.” -AP

EU ministers agree candidate status for Serbia, says French FM BRUSSELS: EU foreign ministers on Monday approved a first key step in Serbia’s bid to join the European Union, French Foreign Minister Alain Juppe said.

“There was an agreement today,” Juppe told journalists during a break in ministerial talks in Brussels.

A formal decision to grant Serbia candidate status is to be given by European Affairs ministers on Tuesday, with an EU summit to deliver the final verdict on March 1 and 2.

“At last there were no further objections today,” Juppe said.

“This will encourage Belgrade to progress on its path towards rapprochement with the EU” although he said there is “still ground to cover”.

Several European Union foreign ministers spoke out in favor of backing Belgrade’s long drive to join the 27-member club.

“Serbia has fulfilled the conditions for can-

didate status,” Swedish Foreign Minister Carl Bildt said.

“I hope it will be possible to give the status of candidate to Serbia,” said Belgian counterpart Didier Reynders, who pledged to plead in Belgrade’s favor.

Czech minister Karel Schwarzenberg also expressed hopes “we will finally come to a positive agreement” and Austria’s Michael Spindelegger said “the mainstream is in favour of giving Serbia the status of candidate now”.

Belgrade strengthened its chances of winning entry into the bloc in an 11th hour deal with Kosovo Friday that enables the breakaway province to be a full diplomatic player on the Western Balkans scene, alongside Serbia.

The groundbreaking accord notably allows Kosovo - which unilaterally declared independence in 2008 - to take part in official regional meetings and organizations in its own right and as a full member. -AFP

kbtp=fk=_Rfbc Gunmen open fire on bus in Pakistan, 18 killed PESHAWAR: Gunmen opened fire on a passenger bus in the northern Pakistani district of Kohistan in an apparent sectarian attack on Tuesday, killing 18 people, police officials said. “All the people on board were Shiites, and at the moment it looks like they were targeted by armed men from the local Sunni community,” a senior police official told Reuters. The bus was traveling from central Pakistan city of Rawalpindi, near the capital Islamabad, to the northern town of Gilgit. Police officials said the bus came under attack in an area inhabited by two Sunni tribes about 165 km (102 miles) north of Islamabad.

-Reuters

Russia to modernize iconic Kalashnikov rifle MOSCOW: Moscow announced plans on Tuesday to modernize the Kalashnikov, giving a new lease of life to the Sovietera assault rifle that is the mainstay of the Russian army and weapon of choice for paramilitaries and gangsters around the world. Part of a 20 trillion-rouble (690 billion US dollars) modernization of Russia’s armed forces that includes the addition of new armaments, submarines and aircraft by 2020, the new-look Kalashnikov will get a detachable sight and light, Deputy Prime Minister Dmitry Rogozin told parliament. “We are planning deep modernization of the Kalashnikov assault rifle,” said Rogozin, who oversees the defense industry. “This will be a weapon with detachable equipment, such as an optical sight and a lamp.” -Reuters

Thai court jails activist in latest royal insult trial BANGKOK: A Thai political activist was sentenced to seven-and-a-half years in prison on Tuesday for publicly insulting the monarchy, the latest in an extraordinary rise in cases under the world’s strictest lèse-majesté laws. The number of prosecutions under the laws has grown sharply, as have jail terms, during the country’s on-off political crisis that has been simmering since former premier Thaksin Shinawatra was ousted in a 2006 military coup.The Criminal Court initially handed a 15-year term to Surachai Danwattananusorn, also known as Surachai Sae Dan, after finding him guilty on three counts of lèse-majesté. It halved the sentence because he pleaded guilty. -Reuters

British Foreign Secretary William Hague (left) talks with his French counterpart Alain Juppe (center) and Swedish Foreign Minister Carl Bildt at the start of a European Union foreign ministers meeting in Brussels Feb. 27. (Reuters)

Costa cruise ship adrift off Seychelles The Costa Allegra cruise liner is seen in Rhodes, Greece in 2011.

An Italian cruise ship from the the tragedystruck Costa Concordia was adrift Monday in choppy seas off the Seychelles with no power 1,049 people on board. (AFP)

ROME: An Italian cruise ship from the same fleet as the tragedy-struck Costa Concordia was adrift on Tuesday in pirate-infested seas off the Seychelles with no power and with more than 1,000 people on board.

A blaze in the engine room of the Costa Allegra saw the liner stranded in the dangerous and choppy Indian Ocean seas and it was forced to make a mayday call seeking assistance from nearby vessels.

Emergency crews onboard managed to put out the fire after a few hours and nobody was injured, but the passengers were all moved onto the stricken ship’s outer decks to ensure an easier evacuation if needed.

The Costa Allegra is from the same fleet as the much larger Costa Concordia, which crashed into an Italian island in January, in a tragedy that claimed 32 lives.

The first vessel to come to Allegra’s rescue, a French 90metre (300-foot) fishing boat, reached the liner overnight and the two captains were in radio contact, cruise operator Costa Crociere said.

“At dawn, Costa will evaluate the assistance operations the ocean-going fishing ship can provide,” a company spokesman said. A second large fishing trawler was due to arrive at the scene, with two tugs expected a few hours later Tuesday afternoon.

Company official Giorgio Moretti said one option was to evacuate passengers and crew from the Costa Allegra onto the vessels and take them to the Seychelles archipelago, while another was to tow the boat to the islands.

“The fire has damaged the ship’s electric grid,” Moretti told reporters.

He said the passengers and crew came from 25 coun-

5

tries and included 135 Italians, among them nine Marines to guard against pirate attacks, 127 French people, 97 Austrians, 90 Swiss, as well as nationals from Britain, Germany, Mauritius, Russia, Slovenia and Spain.

The crew had sounded a general emergency alarm “as a precaution”, the company said in a statement.

“According to standard procedures, Costa Allegra transmitted a distress signal and the relevant authorities were alerted, including the Maritime Rescue Control Centre in Rome, Italy,” the statement said.

The Italian coast guard said the first tug boat out of two dispatched from the Seychelles was only set to arrive at around 1500 GMT on Tuesday. The coast guard also said it was in touch with authorities in the Seychelles and that the incident happened near Alphonse Island, some 200 nautical miles from the main islands of the Indian Ocean archipelago.

All 636 passengers and 413 crew members on the ship, which left Madagascar on Saturday on its way to the Seychelles, were “in good health and were informed promptly of the situation”, it said.

A government official told AFP: “An aircraft (from the Seychelles coast guard) is flying over the vessel. Two tug boats and several vessels have been sent for assistance. Several ships in the vicinity are also being sent.”

“The Costa Allegra’s engines are out but its communications are working,” the coast guard said, adding that wind speeds in the area were around 25 knots, which can make for choppy but not gale-force conditions at sea. The ship was at the start of a cruise which would have also taken it to Oman, the Red Sea and the Egyptian Mediterranean port of Alexandria. -AFP

South Korean opposition to pursue closer ties with North

SEOUL: South Korea’s main left wing opposition party, which polls say is headed for a victory in an April parliamentary election, vowed on Tuesday closer ties with North Korea and will end a sanctions regime imposed by the current conservative government.

The move comes amid saber-rattling by North Korea after it held talks with the United States last week on its nuclear program and food aid, the first under its new leader Kim Jong-un.

Incumbent President Lee Myung-bak put an end to a decade of aid to the North when he came to power in 2008, demanding the impoverished country abandon its nuclear ambitions, ending the “Sunshine Policy” of engagement by his two left-ofcentre predecessors.

“The Lee Myung-bak government’s North Korea policy, the policy of just waiting for the North to change, has failed,” the leader of the opposition Democratic United Party, Han Myeongsook told a forum.

The Democrats have led the conservatives since early last year in opinion polls, although the gap has narrowed in recent weeks. A poll by Realmeter published on February 17 showed the Democrats with 38 percent support versus the conservatives’ 33 percent.

Two years after Lee took office a torpedo attack sunk a South Korean navy ship in disputed waters, killing 46 sailors.

Seoul blames Pyongyang for the attack and tightened its sanctions regime further, banning commercial activity, visits and most trade.

“The Democratic United Party will actively pursue normalization of South-North ties and their improvement,” Han said, adding that the sanctions imposed by Seoul would be removed as it sought a rapprochement with the new leader in Pyongyang, who is believed to be in his late 20s.

Kim Jong-un is the son of the former leader Kim Jong-il who died suddenly in December having built a state with nuclear weapons capacity and presided over a famine that killed millions of North Koreans in the 1990s.

Although a smiling and joking Kim, the third of his line to hold power in the North, appears to have enjoyed a stable ascent to power, the emphasis of his public appearances has been on the country’s armed forces, suggesting he is not ready to abandon his father’s “military first” policy.

In recent weeks, the North has stepped up harsh rhetoric, threatening a “sacred war” against the South and the United States as the allies began annual military drills.

The two Koreas are technically still at war having signed only a truce, not a peace treaty, to end their 1950-53 conflict.

Park Geun-hye, the interim leader of South Korea’s ruling conservatives, who is seen as a leading contender for president at a ballot in December, also called for more engagement with the North but said Pyongyang must stop breaking its promises made with the international community and with Seoul. -Reuters

All-India strike poses fresh challenge to government

NEW DELHI: A nationwide strike called by trade unions including those affiliated with the government hit Indian cities Tuesday, as millions joined the call for tighter labor laws and a minimum wage.

Eleven central trade unions backed the strike call, posing a fresh challenge to Prime Minister Manmohan Singh and his leftist administration, which had called on the unions to call off the show of force.

“This is a historic occasion. For the first time all the big trade unions have come together to protest the anti-labor polices of the government,” All India Trade Union Congress general secretary Gurudas Dasgupta told AFP. Among the unions’ demands are a national minimum wage, permanent jobs for 50 million contract laborers, more government efforts to rein in the rising cost of living, and an end to the sale of stakes in profitable public companies.

“We gave the government ample opportunity to discuss these issues. Now striking is the only option before us,” Dasgupta said.

“We are fighting for our rights against a government that is anti-people,” he added.

Singh’s government, already tainted by a series of high-profile corruption scandals, has struggled to keep inflation in single digits at a time when the economy is growing at its slowest rate for three years.

Transport, banking and postal services were all hit by the 24-hour strike that began midnight Monday.

In Kolkata, a traditional trade union stronghold, most bank branches, shops and other businesses were closed, with taxis and rickshaws staying off the streets.

But the city’s metro was working normally, and West Bengal’s firebrand Chief Minister Mamata Banerjee, who had denounced the strike call, brought 1,000 state-owned buses into the city to ease the transport problem.

Kolkata police chief R.K. Pachnanda said 10,000 police officers had been deployed across the city, including special units in government offices, bus depots and metro stations to prevent intimidators picketing by union activists.

The Press Trust of India (PTI) news agency said about 100 pro-strike supporters had been arrested in different districts for obstructing rail and road traffic. -AFP

ALWATAN DAILY

OPINION

6

WEDNESDAY, FEBRUARY 29, 2012

Draft law for supporting outstanding citizens Nabeel Al-Fadhl

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he MP Ahmad Al-Saadoun had rejected many invitations by the former speaker of the house Jassem Al-Kharafi wherein the former speaker used to invite the new elected MPs after each parliamentary election and before opening the new legislative term. Al-Saadoun used to reject such invitations and he rejected to attend other invitations by His Highness the Amir on different occasions when His Highness the Amir was holding the position of the prime minister. Al-Saadoun used to claim that he was travelling to Doha or really travelled to Doha just to avoid attending such invitations.

The very MP did not do that because he adheres to certain principles like avoiding any meeting outside the headquarters of the parliament because he had already attended meetings with some political activists such as the meeting that was held for primary election of the new speaker of the house in 1992. That meeting was built on contradicted thoughts similar to the slogan of Al-Saadoun “But Consti-

The heritage of the late Amir

We hope forming a team including some political activists, former MPs and constitutional experts to put certain concepts or explanations to national unity in order to enable the two authorities to endorse a law or clear penalties against those who trespass on the national unity. tution” then he signed his approval for amending the second article of the constitution two times.

Al-Saadoun showed us new contradicted principles recently through attending the meeting which was held in the Diwaniya of the MP Al-Saifi. The new contradiction is not breaking his slogan but attending a meeting of a parliamentary bloc despite that he holds the position of the speaker

of the house. Therefore such step indicates that he will not be a neutral speaker. The meeting also discloses the political and administrative trends of the speaker who will run the sessions of the parliament.

Abdulatif Al-Doaij denounced recently misusing the concept of national unity and exploiting this idea to gain certain advantages. However, I have already warned against

Is there a commercial agent for masks?

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Some people might have reasonable pretexts while talking about some Gulf States but surely such pretexts should not be used to cover our failure as we fail to solve our crises and problems as a result helping to solve the problems of others.

I need a sick leave for three days. I don’t want to go to school

What’s wrong with you? You did not go to school for a month

Dr. Bu Nabeel

Immediately after the incident of the Kuwaiti Shiite scholar, the MPs with beards began to praise him. Where is Musallem Al-Barrak who proposed a law against hatred? Didn’t that incident reflect hatred?

Fuad Al-Hashem

B

Waleed Jassem Al-Jassem

O

n the occasion of the 51st anniversary of Independence Day and the 21st one for liberating our country from the Iraqi invasion, I feel that we have to remember the great heroic role of the Gulf Countries and some other Arab and foreign states wherein the sincere efforts of those states contributed effectively in liberating Kuwait. It is very necessary also to focus on the great role of Saudi Arabia in addition to the heroic role of the Qatari army, the Bahraini brotherhood, the Emirati generosity and the Omani wisdom and its Sultan Qabous Bin Said who is the sole Arab leader who still holds power since that time.

While celebrating such great occasions, we feel sorry for the lasting deterioration of the country to the extent that urged some youths to think of immigration and leaving Kuwait. We restored Kuwait following the Iraqi invasion when the Kuwaiti people and officials were very enthusiastic to build Kuwait. If we want to build the future of Kuwait then we have to consider the mistakes that occurred before invasion and compare them with the mistakes and problems that we suffer from at the present time.While comparing the mistakes of the two stages we will discover that our current mistakes and problems are very easy and can be solved easily. However, the most dangerous problems that we suffer from now are sectarianism and tribalism. In the mean time we admit that such problems were available in Kuwait since a long time ago but sectarianism and tribalism are very clear now more than any other previous stages.

Another worse thing we used to witness at the present- which can be considered as a part of the Kuwaiti failure- is attacking our dear brothers in the other Gulf countries especially in Saudi Arabia, Qatar and Bahrain. We really would like to apologize for our brothers as attacking them became a part of the daily Kuwaiti conflicts. Whenever we fail to solve or overcome our crises we accuse them of stirring or complicating the very crises therefore the Kuwaiti Shiites accuse Saudi Arabia and the Kuwaiti Sunni people accuse the Bahraini people and different citizens attempt to cover their failure by attacking the dynamic state of Qatar which plays a significant role on the Arabian by international standard.

Some people might have reasonable pretexts while talking about some Gulf States but surely such pretexts should not be used to cover our failure as we fail to solve our crises and problems as a result helping to solve the problems of others. What we can do now is just remembering the last beautiful days of Kuwait.

I want to convey this message to all Kuwaiti citizens Sunni and Shiite alike; “the Gulf Cooperation Council is the sole real heritage that the late Sheikh Jaber AlAhmad left behind therefore we have to maintain it because it is the real lifeline for us”.

However, the above mentioned words don`t mean that we agree with all the Qatari political roles in the region and in Kuwait as well, if Qatar really plays a political role in Kuwait. If we can`t protect our country from foreign intervention except through complaining then such a step is more proof for our failure.

We appreciate all Gulf countries and we feel very sorry for the daily massacres against the Syrian people as the brutal Syrian regime is still killing civilians, in the mean time we question when and how our country turned into a state which calls for democracy and democracy for others!?

such idea by articles and on different TV interviews especially when we don`t have a specific meaning or concept to national unity.

We hope forming a team including some political activists, former MPs and constitutional experts to put certain concepts or explanations to national unity in order to enable the two authorities to endorse a law or clear penalties against those who trespass on the national unity.

I`ll submit a draft law for supporting the outstanding citizens and restrict the wide authorities that some officials have and use to restrict the role of serious employees. The new draft law aims at supporting outstanding citizens- in the different fields such as the sports one, literary, artistic or scientific field- who contributed in improving the overseas image of Kuwait more than Ministry of Information and Ministry of Foreign Affairs.

The outstanding citizens can be considered as a rare coin in any country in the world and the current Kuwaiti employment laws should not be applied on the outstanding citizens.

I need a sick leave. I staged a sit-in

al

Here is a three- day sick note. Please do not slap me.

W e s p wa n lo e c ia t wa l nc e

Dr. Bu Nabeel

Here is a sick leave. Please do not file a complaint against me

I need a sick leave.

I was invited to have before noon tea

Dr. Bu Nabeel

I suggest to change the name of the Health Ministry into Ministry of Sick Leaves and Work Affairs

We need sick leaves d ne e We eaves l s ic k

Dr. Bu Nabeel

mthallab@alwatan.com.kw

Mohmmed Thallab

ecause my abilities to deal with the Web is still in the early stage, I sought the help of a friend of mine to search the web for French, American, English, Italian or even Polish songs which begin with “Oh France, how beautiful you are!”, or “This is America, where you can find everything you want!” or “England is the most beautiful island”, and so on.

On daily bases throughout the year and not only on the national day, we listen to a large number of patriotic songs written by poets in minutes, and composed by composers in hours, but we listen to them for years. We do not stop talking about national unity and social fabric, without discrimination between Sunnis and Shiites, and pray to God Almighty to bless the souls of our martyrs who were killed in the AlQurain Battle and visit their house and fly the flags and repeat slogans. Our MPs seek to enact anti-hatred law, anti-discrimination law and anti-sectarianism law, etc.

At the time when we celebrate the Liberation Day and Independence Day, the Minister of Interior ordered his men at Kuwait International Airport (KIA) to interrogate any Kuwaiti wearing a turban and has a flight ticket to Iran.

What happened to the Kuwaiti Sheikh Hussein Al-Maatouq at KIA a few days ago was something shameful, especially since the charge brought against him, if there was any, was wearing a turban and having a return ticket (Kuwait - Iran - Kuwait). It was strange that the Interior Ministry does not interrogate Kuwaiti citizens who wear Ghutrah and Iqal (head cover for men in Kuwait) and dishdasha who are travelling to Iran. They do not interrogate the citizens who wear Ghutrah but without a Iqal and a short dishdasha with long beards who have tickets to Islamabad or Karachi.

It is strange that after the arrest of Sheikh Hussein Al-Maatouq, the MPs who belong to the Islamic Constitutional Movement (ICM) and Salafi Movement began to praise the Minister of Interior and expressed support to him, despite the fact that he was under severe attack by the same MPs a few weeks ago when police arrested Syrian demonstrators who stormed the embassy of their country and insisted on deporting them, their women and their children to any country, even if it was not Syria.

Immediately after the incident of the Kuwaiti Shiite scholar, the MPs with beards began to praise him. Where is Musallem Al-Barrak who proposed a law against hatred? Didn’t that incident reflect hatred?

The US and French journalists, who were killed in Homs, were using a house at that stricken city to report news. The Russian intelligence intervened and moved a spy satellite towards Syria, and specifically over Homs to give the coordinates of the site to Syrian intelligence, which informed the gang of Al-Assad, which launched several rockets and killed the female US journalists and her French colleague.

An official in the intelligence services of an Arab country, which has no relations with Israel, arrived at the airport of Ben-Gurion and held a meeting in Tel Aviv on Sunday with senior Israeli intelligence service Mossad. The purpose of the visit was: “How to quickly put an end to the massacres committed in Syria by Bashar Al-Assad”.

During an interview with Al Rai TV on

Sunday, the defense lawyer of the detainees in Guantanamo said that “the Afghan mujahedeen sold Kuwaitis detained in Guantanamo Bay at five thousand US dollars per each”. I published this news in this column a few years ago, and readers can refer to the archive of Al Watan to read it. Moreover, some Kuwaiti fighters were sold at half of this amount of money, equivalent to about 750 dinars.About 25 years ago the magazine issued by Social Reform Society used to say that the Afghan mujahedeen, were doing “miracles” but it didn’t write about them after they sold their Kuwaiti “Muslim brothers” to the American “infidels”.

Head of Egyptian intelligence, Major General Murad Mowafi said to the Prime Minister of the outgoing Palestinian government Ismail Haniyeh “the Muslim Brotherhood Movement in Egypt has accepted the peace treaty between Egypt and Israel.

If your movement didn’t do the same, it means that you and your authority commit suicide, and Tel Aviv will take advantage of that and deliberately launch a selective process for the assassination of all symbols of Hamas in Gaza including you”.

The struggling Hamas member Haniyeh replied “Hamas will do whatever Egypt wants.

We will turn our backs on Iran, and we have already lost Syria. We have accepted the establishment of a Palestinian state on the borders of June 1967. Please General; pass this message to the leaders of Israel”.

The Lebanese Minister of Education AlSayed Hassan Diab agreed to implement the order issued by Leader of the divine victory party Hassan Nasrallah to assign an hour a day, for five weeks, in all public schools, for “The importance of the Islamic resistance and the patriotism of Hezbollah”. In return, the Islamic Republic of Iran will deposit the amount of ten million US dollars in the bank account of the Minister. The minister has already received the “clean” dollars from the divine victory party leader Wafik Safa.

Sheikh “5609” dinars said to the Turkish Prime Minister Recep Tayyip Erdogan: “I hope that you forget about Obama and Saudi Arabia, and to forget your disagreement with the Israeli Prime Minister Benjamin Netanyahu and make him cooperate with you and me. If this happened, Bashar Al-Assad will fall at the hands of a number of his army generals within the 48 hours”.

My dear colleague Dr. Shamlan Al-Issa wrote a wonderful article for Al Watan a few days ago, in which he said “Kuwaiti democracy is “lame”. Most of the Members of Parliament, who took the oath to respect the constitution, are trying to change it. Most of the electors, who casted their votes to the Islamists are the same ones, who love songs and music”. This paragraph is full of logic and irony. I’d like to say to my colleague Al-Issa that no one in Kuwait, except some, wears masks. If there was a commercial agent who imports masks, he would be richer than Qarun.

I advise MP Osama Menawer, who demanded the demolition of churches in Kuwait, to read “text of the Covenant given by Prophet Mohammad (PBUH) to the Christians of Najran” and other Christians in the Arabian Peninsula, to realize that Musaylimah, who falsely claimed to be a prophet, was more truthful than some lawmakers; sometimes.

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ALWATAN DAILY

VIEWS

WEDNESDAY, FEBRUARY 29, 2012

Who Lost Greece?

Jean Pisani-Ferry Project Syndicate

From the outset of the crisis, the International Monetary Fund diagnosed a twin problem: weak public finances and a severe loss of competitiveness.

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russels: The blame game in Europe has not yet begun. An agreement between Greece and its private creditors and public lenders will enable it to meet its next debt repayment deadline of March 20. The Europeans should be commended for a significant step in the direction of realism. Private creditors have accepted a haircut of more than 50 percent on their claims and a lowering of interest rates, bringing the total debt relief to more than two-thirds.

But, while a solution was found in extremis, many people believe that it will merely postpone the day of reckoning, as Greece will not implement the promised austerity, and will end up either deciding to exit the Eurozone or being pushed out following an eventual default.

FILE- Greece’s Finance Minister Evangelos Venizelos (left) and Greece’s Prime Minister Lucas Papademos hold a joint news conference after a Eurogroup meeting in Brussels Feb. 21, 2012. (Reuters)

Even before the latest deal, political leaders in the Netherlands and Finland, and some in Germany, were wondering aloud why Greece should remain in the euro. In Athens, exasperation has reached new heights, and the bitterness of the disputes has started to echo dangerously the rabid disputes over German reparations of the 1920’s.

“Who lost China?” American strategists asked in the 1950’s, following the victory of Mao Zedong’s communists in 1949. Europeans may well soon start asking themselves the same question about Greece.

The main culprit, of course, is the Greeks themselves.The fecklessness of their politicians has plumbed new depths, patronage has poisoned their government, Transparency Interna-

tional’s corruption index ranks their country 80th in the world, and, in September 2011, the Greek treasury had carried out only 31 of the 75 tax audits of high-income individuals promised for the year as a whole. But it would be too easy to leave it at that and absolve the rest of Europe of responsibility. European officials’ first error was to procrastinate for months, only to produce an unrealistic assistance program that foresaw Greece’s return to the capital markets by 2013. It is now clear that it will take years, perhaps a decade, to reform the economy and correct its imbalances.

Europe’s second error was its incoherent response to the solvency crisis. Two strategies were possible: either an early reduction of Greece’s sovereign debt, thereby restoring sol-

vency rapidly, or mutualization of Greek debt in the name of preserving the collective reputation of all eurozone sovereigns. Either strategy would have been coherent, but Germany and France agreed on a cocktail of both, which was not. The Germans and French pretended that Greece was solvent and lent to it at punitive interest rates, which made the situation worse.

It took 18 months to abandon this policy.

The third error was getting priorities wrong. From the outset of the crisis, the International Monetary Fund diagnosed a twin problem: weak public finances and a severe loss of competitiveness. Unfortunately, policymakers focused on the former, and blithely hoped that structural reforms would resolve the latter. The Greek authorities invested most

Stephen S. Roach

Susan Glasser

Project Syndicate

Reuters

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FILE- President Barack Obama speaks at the Nob Hill Masonic Center in San Francisco, Friday, Feb. 17, 2012. (AP)

As for Russia and Putin’s aggressive campaign, neither party really has much to say about it. apparently mistaken burning of the Koran at a US military base outside Kabul, an incident that set off days of riots throughout Afghanistan.

Romney called Obama’s apology “difficult for the American people to countenance.” His rival Rick Santorum said flatly it was wrong.

In a new article out today in Foreign Policy, the magazine I edit, two key architects of George W. Bush’s presidential campaigns make the case for exactly this sort of Obama-bashing.

The president, according to Karl Rove and Ed Gillespie, should be attacked by Republicans this year as “naïve,” “weak,” and generally out of his league on the international stage.

(Remember when Obama in 2008 argued that “Iran was a ‘tiny’ country that didn’t ‘pose a serious threat,’” they write. “How foolish that now seems.”)

Although the conventional wisdom holds that foreign policy is a strength for a president who finally managed to kill America’s Enemy Number One - Osama bin Laden - Rove and Gillespie are sure it’s a weakness, and one that should be exploited by this year’s nominee, whoever he is. “The nominee should adopt a confident, nationalist tone emphasizing American exceptionalism, expressing pride in the United States as a force for good in the world, and advocating for an America that is once again respected (and, in some quarters, feared) as the preeminent global power.”

Does all this chest-thumping rhetoric matter?

Putting aside the political calculation behind it, it sure seems like a distraction. After an incredible 20 debates among the Republican candidates, the year’s conversation about the world can pretty much be summed up like this: America is great, Obama is not, and by the way let’s be worried about China and get rid of our foreign aid budget (except the part that helps Israel).

Where was the serious discussion of Europe in the midst of its most serious financial - and political - crisis in decades, a crisis that is arguably the most significant threat to the United States today? It’s only the economic health of America’s largest trading partner and closest ally that’s at stake. (At least in Europe, they get the implications; wags there often refer to German Chancellor Angela Merkel as Obama’s running mate.) What about any debate on Obama’s escalating drone wars, or his stated goal of a “strategic pivot” to Asia and away from the conflicts of the Middle East? Or a serious discussion of what to do about nuclear-armed North Korea, in a per-

of their meager political capital in budgetary adjustment rather than in building a competitive economy.

The program now being finalized reverses the order of priorities, putting competitiveness and growth ahead of completion of budgetary consolidation. Still, the question remains why this decision had to wait almost two years.

Fourth, nothing substantive has been done about growth. An adjustment program is necessarily recessionary, but this need not thwart efforts to mobilize tools for economic recovery.

Greece could in principle have counted on a large amount of regional development aid from the European Union budget, which was underutilized owing to a lack of local co-financing. It took until last summer to recognize - and even then only to a modest degree - that this aid could be used to support economic recovery.

Europe’s final error was a certain level of indifference to fair burden-sharing. It is understandable that the IMF, a technocratic institution, does not venture beyond macroeconomics. But the EU is a political entity that has made social justice one of its fundamental goals. It cannot call for a cut in the minimum wage while assigning secondary importance to tax evasion among the top tenth of income earners, which costs one-quarter of income-tax receipts.

Contrary to much facile criticism, Europe cannot be reproached for imposing austerity on the Greeks. This is the necessary counterpart of a major effort at financial support, and a country with such huge imbalances must inevitably be subject to extreme rigor.

But Europe can be reproached for an initially late, badly designed, unbalanced, and inequitable program. If the question as to who lost Greece arises one day, there will be enough blame to go around.

Jean Pisani-Ferry is Director of Bruegel, an international economics think tank, Professor of Economics at Université Paris-Dauphine, and a member of the French prime minister’s Council of Economic Analysis.

Asia’s Take on Austerity

Nasty electoral rhetoric goes global

here was Vladimir Putin the other day doing what he does best.The Kremlin strongman who has promised to put rebels in the outhouse, threatened an annoying reporter with circumcision and shot darts at rare Siberian tigers, has responded to the pre-election unrest about his planned return to the Russian presidency with his tried-and-true playbook: a noxious brew of ethnic nationalism and macho chauvinism, mixed in with nuclear posturing, America-bashing and old-fashioned scaremongering.

“We should not tempt anyone by allowing ourselves to be weak,” he lectured in an oped last week. In fact, he wants a country with a plummeting population, aging infrastructure, corruption-plagued education system and no major enemies to speak of aside from Georgia (a tiny neighbor one-thirtieth its size) to spend billions of dollars modernizing its military, and especially its nuclear missiles, over the next few years.

To Putin, under fire in advance of Russia’s March fourth presidential election as never before in the dozen years he’s ruled, enemies are suddenly everywhere, from US Secretary of State Hillary Rodham Clinton to Napoleon Bonaparte to assorted lesser villains at home and abroad. On Monday, that enemies list grew even more ominous when Russian and Ukrainian state TV reported an alleged plot to kill Putin

by Chechen militants, a plot that had supposedly been broken up in January but only made public now, on the eve of the election. “We will never allow anyone to interfere in our internal affairs,” he said at a campaign rally a couple days ago. In a stadium packed for Defender of the Fatherland Day, Putin put on a full-throated pep rally, as if the country were in the midst of war: Victory, he shouted, was “in our genes, in our genetic code.”

But Putin’s rhetoric - unquestionably over the top I remember back in 2004, when Putin threatened that reporter using a word so vulgar the interpreters refused to translate it - is less of an outlier than you might think in this global campaign season. In Greece, the rioting crowds, furious over austerity, call the Germans who insist on massive budget cuts for their overstretched government latter-day Hitlers. In Venezuela, embattled, cancer-stricken autocrat Hugo Chavez has responded to a strong challenge from a united opposition by unleashing a campaign against his opponent that includes tarring him as a gay, Zionist, neo-Nazi sympathizer out to ruin the country.

And then there’s the US presidential election, where Republican front-runner Mitt Romney has been bashing European socialism, Chinese central bankers - and Putin - with as much zeal as he has jumped on Barack Obama.

His fellow Republican Newt Gingrich, perhaps feeling his chances finally slipping away, just in the last few days called Obama “outrageously anti-American” in his energy policies and pronounced him “the most dangerous president in modern American history.”

Republicans are sure they can attack Obama as a declinist, a wimpy European sort who’d rather go around the world apologizing for American power than using it (never mind Obama’s surprisingly muscular record of supporting war in Libya, surging more troops into Afghanistan and dramatically increasing covert strikes against terrorists). So of course they were quick to seize on the president’s apology last week to Afghan President Hamid Karzai for the

7

ilous state of transition now under the stewardship of its late tyrant’s 27-year-old son?

And this holds for Obama, too. Long gone is the 2008 candidate of hope, the one who promised to tackle global warming and peace between Israel and the Palestinians, and even make progress toward a world free of nuclear weapons.

These days, Obama positions himself as more of a tough-minded realist, and to listen to his State of the Union speech one could be forgiven for thinking that the signal accomplishment of his first three years in office was killing one man.

(Gerhard Peters of the University of California at Santa Barbara calculates that Obama mentioned bin Laden just 14 times from his inauguration to last April 30 - and 103 times since May first, when he announced bin Laden’s death.)

As for Russia and Putin’s aggressive campaign, neither party really has much to say about it. Obama early on proclaimed a “reset” with Russia after the frosty relations of the Bush era, and made so much of its success he’s not exactly going to campaign now against it - even with the Russians waging a crude propaganda campaign targeting Obama’s new ambassador, Michael McFaul, an architect of the reset now being blasted in the Russian media as an agent sent to foment revolution.

Still, the sniping has escalated in recent days, not just because of Putin’s tough talk about the supposed hidden hand of Clinton and the Americans in undermining his regime. A real flash point may emerge over Syria, where Russia pretty much alone in the world has publicly defended the interests of Bashar al-Assad’s embattled regime, dismissing the deaths of more than 6,000 people as an internal affair and steadfastly using its UN Security Council veto along with China to block any coordinated international action. “It is just despicable,” said Clinton.

So, is there a new deep freeze on the way between Putin’s Russia and whoever runs America after the 2012 election? Better listen to all that overheated campaign rhetoric, whether it’s Mitt Romney blasting Obama for negotiating the New START nuclear-arms reduction deal with the Kremlin or Putin’s tough-guy talk about upgrading the Russian military so it’s no longer a shadow of its Soviet self. They might actually mean it.

Susan Glasser is editor in chief of Foreign Policy, the magazine of global politics, economics, and ideas.

ew Haven: The austerity debate was the topic du jour at this year’s World Economic Forum in Davos.With good reason. Europe is slipping back into recession just when recovery in the United States is finally getting some traction. That has undermined the case for fiscal consolidation, which is so heavily favored in Europe. Yet I took away a different conclusion from Davos. I moderated a session on “The New Context in East Asia,” addressed by a panel of senior representatives from Thailand, South Korea, Malaysia, Singapore, and Japan. With the exception of the Japanese participant, all had first-hand experience with the devastating Asian financial crisis of the late 1990’s.

I couldn’t resist the temptation to draw Asia into the debate between Europe and the US. Rather than ask the Asian panelists to theorize about the impact of austerity in the overly indebted developed West, I asked them to assess their own experiences during and after the crisis of the late 1990’s. Frankly, I was surprised by what I heard. The panelists agreed on two points: first, they initially detested the wrenching adjustment programs dictated by the terms of the International Monetary Fund’s so-called conditional bailouts (the South Koreans still refer scornfully to the “IMF crisis” of the late 1990’s). Second - and here’s where the surprise came they all agreed that, with the benefit of hindsight, these excruciating adjustments were worth it, because their crisis-torn economies were forced to embrace structural reforms that paved the way for their spectacular economic performance today.

On the surface, the numbers speak for themselves. In 1998, during the depths of the Asian crisis, aggregate output in the socalled ASEAN-5 - Indonesia, Malaysia, the Philippines, Thailand, and Vietnam - plunged by 8.3%. Real GDP in South Korea - long considered the darling of Asia’s newly industrialized economies - contracted by 5.7% that year. But then the tough conditionality of IMF bailouts and adjustment programs Asia’s own dose of austerity - kicked in.

In response, current-account balances the Achilles’ heel of the so-called East Asian growth miracle - went from deficit to surplus.

For the ASEAN-5, current-account deficits averaging 4% of GDP in 1996-97 swung dramatically into average surpluses of 6.8% of GDP in 1998-99. A similar transformation occurred in South Korea, where a 2.8% current-account deficit in 1996-1997 became an 8.6% surplus in 1998-1999.

Since then, the region has never looked back. Within two years, most of Asia’s crisisridden economies had regained their pre-crisis peaks. Nor was this a temporary rebound.

Beginning in 1999, the ASEAN-5 began a ten-year spurt of 5% average annual GDP growth (5.5% in South Korea over the same period). In short, there were no lasting negative effects from the short-term dose of austerity, and, to the extent that austerity was essential to post-crisis healing, the long-term benefits have proven to be both enduring and astounding.

Three lessons for the rest of us come to mind. First, there is no gain without pain. Few of us in the developed world can fathom aggregate-output contractions on the scale that crisis-torn Asia suffered in 1998, let alone muster the political will to impose them on our economies. The economic dislocations

With the exception of the Japanese participant, all had first-hand experience with the devastating Asian financial crisis of the late 1990’s. and the humiliation of proud nations were, indeed, devastating (as Greeks today can attest). But, once the excesses were purged, Asia’s post-crisis rebounds were both strong and sustainable.

Second, currencies played an important role as an escape valve in the early days of Asia’s post-crisis adjustment process. As the region moved from hard exchange-rate pegs to floating rates, Asian currencies plunged with drops against the dollar ranging from 28% in South Korea and roughly 37% in Thailand, Malaysia, and the Philippines to almost 80% in Indonesia. Finally, there is no substitute for restructuring. In Asia in the late 1990’s, measures aimed at the financial sector dominated IMF-imposed structural adjustment programs, but there were also programs that focused on tax and expenditure reforms, corporate governance, privatization, and business-debt restructuring. While not all of these programs were implemented in strict compliance with IMF conditionality, they played a key role in promoting significant improvements in Asian competiveness.

None of these lessons should be lost on either Europe or the US. While individual countries obviously lack currency flexibility in a monetary union - one of Europe’s most obvious and important differences from Asia in the late 1990’s - there is nothing to prevent a depreciation of the euro from boosting pan-regional competitiveness. The same, of course, is true of the US dollar.

But no country - or group of countries, in Europe’s case - has ever devalued its way back to prosperity. So Asia’s structural lessons are equally important to the developed world. Indeed, Germany’s economy is outcompeting and out-growing the rest of Europe, largely owing to labor-market reforms and deregulation. The same medicine might prove equally beneficial to the rest of Europe - to say nothing of the US, which faces a major competitiveness challenge of its own.

In the end, Asia’s developing economies had no choice but to accept draconian measures as the price of bailouts in the late 1990’s. It remains to be seen if rich developed countries are willing to take the same route. Two decades ago, in their book Changing Fortunes, Paul Volcker and Toyo Gyohten underscored the glaring double standard of crisis resolution: “When the [International Monetary] Fund consults with a poor and weak country, the country gets in line. When it consults with a strong country, the Fund gets in line.” Perhaps that is the key lesson from the Asian crisis of the late 1990’s: austerity can work.

But its success or failure ultimately boils down to power politics - namely, a resolution of the tension between short-term palliatives and the commitment to a long-term strategy. That’s where the battle still rages in the West.

Stephen S. Roach, former Chairman of Morgan Stanley Asia, is a member of the faculty at Yale University and the author of The Next Asia.

classifieds@alwatandaily.com

WEDNESDAY, FEBRUARY 29, 2012

Tuition available in Hawalli

Western Expat teacher certified, offering English lessons to adults or children. Preparation for exams, or Immigration, also available. Please call: 6556 7494 Convert your VIDEO CASSETTES (OLD COLLECTIONS) into DVD or in SD Card or in USB or any other formats.

Call after 3 pm (66025668)

27-02/27-03

BOSTON whalev super sport 150 boat.Tel:65880918 REQUIRED LICENSEE for a tax business.Tel:66689802

Call: 97292083

27-02/27-03

GARMIN GPS Tel:99226042

for

sale.

SELLING the numbers (90008944-5500503).

Tel:69644449 SELLING the number (60601313) KD800. Tel:50250500 USED FURNITURE’S for sale with air conditioner.

Tel:99739700 KITCHEN Tel:24762688

appliances.

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

CONTACT: 67009278

Birthdays and weddings

SLR

Professional gardening services.

SLR

CARPENTER.

TEL: 66291129 Westener teacher available to tutor English American and British Curriculums in English, Math and Science or Art.

For rates, please call

B.C. Rich Electric Guitar. Warlock Style Platinum-Pro. 7-String, Free Coffin Case 15-02/15-03

ARABIC TEACHER

WDLR

SUPER deluxe furniture apartment in Salmiya, 2 rooms, 2 baths, living room, kitchen and laundry room, KD500.Tel:25352200 APARTMENT in Jabriya, 3 bedrooms, 3 bathrooms, living and kictehen.Tel: 66256814

Contact 69931734

KD 50 KD 15 KD 5 KD 90 KD 120 KD 20 KD 5

VOLKSWAGEN Touareg 2005, navy exterior in a very good condition, KD 2500.Tel: 94404405

2005.

FORD LINCOLN, grey exterior.

Tel: 99288558

2005,

MERCURY Grand Marquis 2005, hardly used in great condition with valid insurance.Tel:97175533

TOYOTA CAMRY 2000, in great condition.Tel:99734995

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

Packing and moving services.

Tel:65599091

SLR

Tel: 66644270

24-01/24-02

SLR

Beauty salon for sale (Maidan Hawally) with all items more information plz co. 99915802

16-01/16-02

I AM AN MBA holder in Finance, and currently working in a well reputed International companies head office in Kuwait since 13 years, looking part time job in sales, accountants, Administrative etc. also having a valid Kuwait Driving license. Contact No:55230926 / tikkakwt@rediffmail.com

03-01/03-02

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

Tel:94996159

REQUIRED CHEF for Lebanese restaurant. Tel: 6509292697686366

SLR

23-01/23-02

CHEVROLET LUMINA V6 2008 model done 80000 km in good condition for KD 2800, single used. TEL: 99962456

BMW 2000, White exterior, beige interior, KD 1250 Tel: 97878183

SLR

Laptops rent,

REQUIRED SALES person with knowledge of using the computer. Tel:66292269

CARS

HYUNDAI 2000, green exterior, KD 500.Tel:99628345

Contact: 66972388

WORK/EMPLOYMENT

CARS

LEXUS IS400 1998, navy full option, KD 1900.Tel: 97803380

For foreigners to learn Arabic easily.

Private English Lessons Experienced teacher All levels and age groups KD 10 per hour

25/12 - 25-01

ITEMS FOR SALE

TOYOTA mini buss KD2900.Tel:24747418

SLR

LEARN ARABIC

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

30-01/30-02

Tel:97601745

SLR

14-02/14-03

APARTMENT in Manqaf, private entrance, 3 bedrooms, 3 bathrooms, living room and kitchen along a maid room.

Tel: 90958689-99925977

Fridge medium size (great condition) Fridge small size Cloth hanger Stove Washer & Dryer Gym Microwave

Laptop repairs, Formats, anti-virus program and games.

Call: 97932925

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

TEL: 66970789

APARTMENT in Mahboula, 4 master bedrooms with baths, living room, kitchen, maids room, laundry and storage room ,swimming pool, parking.

Tel: 65563683 STUDIO in Hawalli with private parking.Tel:66387779

30-01/30-02

Paints and wallpapers, professional work.

Tel:99795097

APARTMENT in Hawalli, 2 master rooms, kitchen, balcony and living room.

Tel:60001848

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

Tel: 97720081

Call Greg at 69931734

Following exercise equipment are for sale: Weight lifting set of dumbbells total 50 kg - KD 30/Exercise bench for lifting and legs - KD 25/AB King Pro W/C - KD 15/All the above equipt are sparingly used.

Also one big dinning table without chairs - KD 5/-

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

NISSAN Altima Tel:94915050

25/12 - 25-02

FOR SALE

Fitness Personal Trainer available

25-01/25-02

Please contact 965-6610-8174 Email: naznaz.fawzi@yahoo.com

Arabic Teacher for non-native speakers Beginners and advanced - All levels of the Arabic language - IGCSE & GCSE. Only 10 KD for an hour and free books

28-02/28-03

FOR RENT

WDLR

FOR SALE

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

FOR RENT

20-02/20-03

SLR

6068 5554

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)

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CONTACT MR. KHALED PH: 99619998 & 55619998

1/02-02/03

Items for sale

Tel: 9769364

CALL: 94441209

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Brand New Items…!!!

5) MOTHERCARE 2 position Baby Carrier – KD 5 (sold in MC for KD 10) 6) AVENT’s Award Winning ISIS Breast Pump Set (with 2 Bottles & Accessories) KD 20 (sold in MC for KD 30)

EVENTS PLANNER

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

Tel:90989840 BILLIARD TABLE for sale in great condiditon.Tel:66666168

1) GRACO Baby Stroller (designed by Laura Ashley) 2) GRACO Baby Car Seat (designed by Laura Ashley) As a Set – both Stroller & Car Seat for 3) JUNIORS Car Seat (from Birth upto 18kgs) 4) JUNIORS Baby Tub + Stand

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Gold firms with euro, stocks ahead of ECB financing

BUSINESS

WEDNESDAY, FEBRUARY 29, 2012

j ^ r h b q = = t^q` e KUWAIT

DUBAI

0.41% 6117

2.66% 1698

QATAR 0.7% 8697

OMAN

ABU DHABI

1.1% 5810

0.7% 2593

LONDON: Gold prices rose towards 1,775 US dollars an ounce in Europe on Tuesday, benefiting from gains in the euro ahead of an expected injection of cheap money from the European Central Bank this week, which is lifting appetite for assets seen as higher risk.

Spot gold was up 0.4 percent at $1,773.89 an ounce at 1025 GMT, while US gold futures for April delivery were up $1.60 cents an ounce at $1,776.50.

lfi= j ^ rh b qp BAHRAIN 0.5% 1140

EGYPT

SAUDI

0.1% 5225

0.3% 7169

US Crude $108.34 $0.22 London Brent $123.06 $0.11 Kuwait Crude $123.57 $0.05 Information Courtesy: KAMCO

See page 10

`r rrbk`fb p US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2771 Sell 0.2776 Buy 0.3725 Sell 0.3732

Buy 0.4391 Sell 0.44

Buy 0.003441 Sell 0.003449

Buy 0.0739 Sell 0.074

Buy 0.07543 Sell 0.07558

Buy 0.07625 Sell 0.07610 Buy 0.7349 Sell 0.73635

Buy 0.005657 Sell 0.005645 Buy 0.006481 Sell 0.006465

Prices in Kuwaiti fils As of February 28, 2012 Courtesy: KAMCO

Kuwait’s January M2 money supply growth at 2-year high

få=cçÅìë

Ogopogo and the funny fox trot

Real-estate sales at KD 318.1 million, says NBK

Savio S. Gomes

CAPITALS: Kuwait’s M2 money supply growth accelerated to a two-year high of 9.8 percent year-on-year at the end of January from 8.5 percent in the previous month, the country’s central bank data showed on Tuesday.

Bank lending growth to the private sector slowed down to 2.3 percent year-on-year in January from 2.6 percent seen in the previous month, the data also showed.

In more news, real-estate sales activity picked up in January, totaling 318.1 million Kuwaiti dinars in value, a 64 percent increase year-on-year, said a National Bank of Kuwait (NBK) report.

The level was the third best level on record. All three sectors of real estate saw big increases, with the residential sector taking up 54 percent of total sales.

The uptick in sales should persist for the year albeit perhaps with less impetus.

“Residential sector sales were 170.3 million Kuwaiti dinars for January, a 40 percent year-on-year climb.” A major contributor to this increase was the high number of transactions concluded, totaling 806 transactions a four-year peak for the sector.

The majority of these transactions 71 percent were for plots of land, as opposed to finished homes.

Residential sales should continue to do well in the near future, as it appears backed with solid demand.

“The investment sector (mainly apartments and buildings intended for rental), saw KD 127.3 million in transactions for January, a little more than double the amount of last January. This was supported by a higher average transaction size, compared to 2011.

“The commercial sector recorded eight transactions in January. They totaled KD 20.5 million in value, an increase of KD 11.5 million from last January. Month to month volatility in both monetary value and the number of transactions is common in this sector.” “The Savings

Exclusive to Al Watan Daily

day, ratings agency Standard & Poor’s cut Greece’s long-term ratings to ‘selective default’, the second

and Credit Bank (SCB) approved 298 housing loans, totaling KD 16.2 million. Of these loans, 59 percent will go into financing new houses constructions while 31 percent will be used to purchase existing homes. Additionally, KD 10.9 million loans were disbursed by the SCB, a 22 percent year-to-year increase.

Meanwhile, exchange rate of the US dollar against

the Kuwaiti dinar was again unchanged at KD 0.277, while the euro increased to KD 0.371, said the daily bulletin of the Central Bank of Kuwait (CBK) on Tuesday.

The exchange rate of the Sterling pound was up by KD 0.438. The Japanese yen remained at KD 0.003 since the beginning of the year, in addition to the Swiss franc which was up to KD 0.308. -Agencies

UGB announces net profit of $1.5 million for 2011 BAHRAIN: United Gulf Bank (UGB) has announced in a press release on Tuesday a net profit of 1.5 million US dollars for 2011.

UGB’s net profit of $1.5 million for 2011 (for the12 months ended Dec. 31, 2011) was a fall of 96 percent over the $38.7 million in 2010, with a similar decrease in basic earnings per share (EPS) to 0.18 US cents from 4.71 cents

Hayat, UGB Chairman

in 2010.

UGB explained that the decrease in net profit in 2011 was due to reduced investment fees, commission income and investment impairment provisions. However, this fall was offset by an almost nine fold increase in UGB’s share of profits from its commercial banking associates. UGB also reduced its expenses during the year.

UGB’s total assets at the end of 2011 were $1.78 billion, down from $1.92 billion in 2010, reflecting management efforts to deleverage the bank during 2011.

UGB retains a strong balance sheet with total equity of $603.2 million (2010: $600.8 million) and a capital adequacy ratio of 18 percent, well above the Central Bank of Bahrain’s minimum level of 12.5 percent.

In order to maintain healthy capital, liquidity and retain resources for future growth, UGB’s Board of Directors has decided to recommend no shareholder dividend for 2011.

Commenting on the 2011 results, Masaud Hayat, UGB’s Chairman, said, ‘’Overall, 2011 was a difficult year for UGB with economic uncertainty across the region. As a result, regional stock markets and asset values recorded negative returns.This situation had an impact on our results, but this was partly offset by a major increase in our share of profits from our commercial banking associates. This bodes well for the next 12 months and shows the resilience of our investment portfolio. In 2011, our focus was to manage the liquidity and strengthen our capital position - both of which we achieved.

Even though our profitability was significantly lower in 2011 compared to 2010, we believe UGB is well positioned to capture any upturn in the market in 2012.”

Brand Finance rates Burgan Bank Brand as ‘AA’, outlook positive

KUWAIT: Burgan Bank announced in a press release on Tuesday that Brand Finance - the international brand valuation company- rated Burgan Bank brand as ‘AA’ with positive outlook. The rating places Burgan Bank Brand at second amongst the most valuable banking brands in Kuwait. The brand ratings and values were recently published in The Banker magazine featuring the Brand Finance’s annual report on the world’s most valuable 500 banking brands. Burgan Bank brand has climbed to the 500 global banking brands list and ranked as 397 globally and 19th across the Gulf Cooperation Council (GCC).

Bashir Jaber, Burgan Bank’s Assistant General Manager - Corporate Communications said, “We are pleased with our latest brand ratings, and ranking second amongst other banking brands within Kuwait. This achievement echoes the deep levels of trust amongst our stakeholders to whom we are thankful.”

“In modern business conditions, the brand is essentially important for business strategy success. There-

fore, strategic brand management is a vital component of Burgan Bank’s corporate strategy, which guides us in communicating the overarching brand message vividly, create customer loyalty, motivate staff, secure business partners while also reassuring financial markets,” added Jaber There is an increased desire from leading organizations to fully understand brand equity as well as brand value when making strategic decisions. Burgan Bank brand has been created on a solid platform of trust and partnership, and one that ensures the delivery of international best practices across our operations.” added Jaber.

The global 500 banking brands, is an annual report published by Brand Finance in association with The Banker - a financial times publication. Each brand is rated on the basis of a benchmarking study of the brand’s strength, risk and future potential relative to its competitors and a summary measure of the business’s financial strength and delivery.

KSE ends trading in green indices

KUWAIT: Kuwait Stock Exchange (KSE) price index was in green indices at the end of Tuesday’s session, which increased to 6,116.6 points gaining 24.8 points. The weighted index read 409.23 points, an up of 0.62 points.

The trading session saw 7,094 transactions worth KD 51.660 million with 699.27 million shares changing hands.

Six of the sector indices were green and two were red. The loser of the day with 47.4 points went to the Food index.

Top gainer share was that Al-Safat Real Estate Company, while top loser was Future Communication Company Global.

The trading began at Kuwait Stock Exchange (KSE) on Tuesday with the main indices all on the rise.

By 9:15 am, the price index came to 6,119.3 points, up by 27.5 points, while the weighted index came to 409.08 points, up by 0.47 points.

Trades came to 971 transactions by the time of the reading, with value reaching KD 7.5 million and 107.1 million shares changing hands. -KUNA

KUWAIT: A ‘cryptid’ is a creature whose existence is popularly suspected but has not been credited by scientific evidence and therefore, looked upon as highly unlikely to actually exist. Yeti (Himalayas) and the Loch Ness Monster (Scotland) are examples. The Ogopogo is a unique cryptid.

The Ogopogo (also known traditionally as a Naitaka) is a humped lake (sea) serpent reported to reside in the Okanagan Lake in Canada. The name Ogopogo originates from the 1924 music hall song ‘The Ogopogo: The Funny Fox Trot’

by Clark and Strong. Balancing the budget has now become an Ogopogo cryptid - everybody believes having seen a balanced governmental budget in their life time, but nobody has actual proof of one. Balancing expectations on inflation, currency values, employment and fair trade now resembles the funny fox trot.

All the 2012 Republican presidential hopefuls are millionaires. Prokhorov, one of Russia’s presidential candidates is a billionaire several times over. Prokhorov’s wealth is estimated at 20 billion US dollars and his possessions include a 200 foot yacht, a mansion outside Moscow, shares in a gold mine (literally), and the New York Nets (Prokhorov was the first overseas owner of an NBA franchise). Sections of the electorate believe (or wish) that since he is already wealthy, he does not need to make more money and therefore will be honest in public life (and service). His opponents like him because as an ostentatiously rich individual, he is considered fundamentally unelectable (probably the very reason why he was allowed in as a candidate). His campaign slogan is ‘demand more’ and focuses on people’s dissatisfaction with corruption, restriction of freedom and a general lack of transparency in public life. Sections of the electorate are also firm believers that on a national scale, he could replicate much of the financial and economic success he achieved in personal life. There have been reported sightings of businessmen making Ogopogo-like forays into public life and politics, however, never before has there been such an open run as this. It is a sign of the times that it is suddenly no longer embarrassing to be rich and be paying low rates of income taxes - in fact in times of recession, the super wealthy are increasingly being applauded for their success and their wealth is proof of competency.

Stranger yet are some categories of occupations gaining ground. Setting fire to houses is now a paying job in Australia. Fire scientists study how to make buildings and homes fire resistant. Government research bodies carry out experiments to survey how materials and designs react to bushfires. Systems and tools that help to predict the spread and level of risk from bushfires are developed. Products such as spray defense systems can help protect both lives and property. Toy makers are employing child psychologists to design and develop toys that meet developmental needs and retain interest. Building value into the design is a complex process since it includes play value for the users (children) and perceived value for the buyers (parents). Product design combines the knowledge of child psychology, commercial astuteness and anthropology. Unfortunately, there is an eerie similarity with the methods employed decades earlier by fast food chains and cigarette companies.

Leaping around takes different shapes in various countries. In Hong Kong, persons born on 29 February are given the legal date of birth of March 1. In China, the legal date of birth assigned is Feb. 28. Feb. 29 is considered especially lucky for Christopher Columbus and by extension for America. In Scotland, Finland and Denmark women can propose to men on Feb. 29. Of course it gets quite complicated if a Scottish woman, born in Hong Kong proposes to a Chinese man on Feb. 29 and the couple later has twins on Feb.28.

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

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

UAE expects first federal bond to be around $1 billion DUBAI: The United Arab Emirates (UAE) expects its first ever federal sovereign bond issue to be around one billion US dollars after a public debt law is approved, a senior finance ministry official on Tuesday was quoted as saying.

The UAE’s top advisory council passed a new public debt bill in December 2010, aiming to establish a local debt market in one of the world’s top five oil exporters, but the legislation is still awaiting presidential approval it needs to become law.

Younis Al-Khouri, undersecretary and director general at the UAE Finance Ministry, did not say when the public debt bill was expected to be signed but he told Alrroya newspaper that a framework for the debt management office’s operation will be launched next month.

He expected the interest rate paid to bondholders to be around 1.2 percent and said government bonds would be issued at intervals to help finance infrastructure projects.

Al-Khouri was not immediately available for comment when contacted by Reuters.

Local media last week quoted Al-Khouri as saying the ministry would submit its debt issuance strategy to the

cabinet within the next two weeks.

The ministry has gradually shifted expectations over the past year about the timing of its planned bond issuance.

In June 2011, UAE Financial Affairs Minister Obaid Humaid Al-Tayer told Reuters the UAE may issue its first federal bond toward the end of 2012 with the debt bill then expected to be signed in the summer of 2011.

The UAE central bank governor said in the same month the Gulf country - rated ‘Aa2’ by Moody’s - needed to double efforts to create a local market for government and corporate bonds as it lacked sufficient government debt instruments.

Some of the member of the Organization of Petroleum Exporting Countries (OPEC) seven individual emirates have already sold government debt, including Abu Dhabi and Dubai, whose state-linked firms also borrow, and analysts have said federal issuance would help spur the local currency debt market. The new public debt law would limit UAE government debt to 25 percent of the Gulf country’s gross domestic product, or 200 billion UAE dirhams ($54.5 billion). -Reuters

10

BUSINESS IN REGION

ALWATAN DAILY WEDNESDAY, FEBRUARY 29, 2012

Gold firms with euro, stocks ahead of ECB financing LONDON: Gold prices rose towards 1,775 US dollars an ounce in Europe on Tuesday, benefiting from gains in the euro ahead of an expected injection of cheap money from the European Central Bank this week, which is lifting appetite for assets seen as higher risk.

Spot gold was up 0.4 percent at $1,773.89 an ounce at 1025 GMT, while US gold futures for April delivery were up $1.60 cents an ounce at $1,776.50.

The precious metal is up 13 percent so far this year, boosted in part by gains in the euro and consequent weakness in the dollar, which makes commodities priced in the US unit cheaper for holders of other currencies.

The euro climbed to a three-month high against the dollar ahead of an expected cash injection of 500 billion euros from the ECB on Wednesday. This is seen as buying more time for authorities to sort out the sovereign debt crisis.

Analysts say with much euro-positive news now largely priced into the market, gold may struggle to rise significantly more.

“I think at this point in time, the markets are well aware of what the ECB is going to do. I don’t think it is likely to act as a further catalyst for strengthening gold prices,” said Deutsche Bank analyst Daniel Brebner.

“In the near term, I’m more inclined to sell into this strength,” he said. “We’ve had a nice little recovery from very attractive levels in the 1,600s, but at these levels, I think we’re due a bit of a pullback.”

But gold benefited as other markets climbed ahead of the refinancing operation. European stock markets rose, while safe-haven German government bonds retreated.

Industrial metals like copper and nickel edged higher, although crude oil slipped as investors worried about recent gains hurting demand.

to light profit-taking.”

Physical gold demand suffers

FILE - A gold shop worker peers out from her store in Hong Kong. Gold prices rose towards 1,775 US dollars an ounce in Europe on Tuesday. (AFP)

Gold rallied 3.3 percent to three-month highs last week, but failed to maintain traction as they neared $1,790 an ounce.

SABIC Mitsui sign polyurethane technology deal KHOBAR, Saudi Arabia: Saudi Basic Industries Corp (SABIC) has signed a technology license deal with Japan’s Mitsui Chemicals as part of its global petrochemical expansion strategy, SABIC said in a statement on Tuesday.

Mitsui has agreed to provide technology for producing toluene di-isocyanate (TDI) and methylene diphenyl di-isocyanate (MDI), both raw materials for producing polyurethane (PU).

“The agreement will spur our strategic business plan to penetrate the global polyure-

thane market,” SABIC chief executive Mohamed Al-Mady said.

“It will also enable a fast development of PU application industries in Saudi Arabia, especially with regards to thermal insulation which will contribute to employment creation as well as energy savings.”

Toluene di-isocyanate (TDI) is mainly used to make polyurethane flexible foam, while the main use of MDI-based PU is insulation. Mitsui and SABIC have also agreed to jointly develop new TDI and MDI technologies. -Reuters

Saras Q4 hit by weak demand, Iran tension MILAN: Saras, one of Italy’s leading refiners, said on Tuesday its core earnings in the fourth quarter (Q4) fell 31 percent on weak demand due to the euro zone debt crisis and high oil prices fuelled by the growing tension over Iran.

Saras, which currently uses about 10 percent of Iranian crude oils in its refinery mix, reiterated its position that if the European Union (EU) embargo on oil imports from Iran is enforced it will take all necessary actions to procure alternative crude oils.

In January the European Union (EU) decided to establish a total crude oil embargo against Iran, effective as of July 1.

Saras said its fourth-quarter comparable earnings before interest taxes, depreciation and amortization (EBITDA) stood at 55.6 million euros (74.48 million US dollars), above an average analyst forecast provided by the company of 39 million euros.

It said planned maintenance at its Sarroch refinery in Sardinia this year is expected to cut core earnings by $70-85 million.

Overcapacity and a weak economic climate have cut refining margins, especially for the smaller operators across Europe.

Italy’s oil and gas major Eni said earlier in February European refining margins will remain at unprofitable levels due to high costs of oil supplies, sluggish demand and excess capacity.

Saras said its refining margin in the quarter stood at $1.7 per barrel, down from the $4.1 per barrel the previous year but above the EMC Benchmark which was a negative $1.5 per barrel, thanks in part to the resumption of Libyan crude supplies.

Saras, which has traditionally taken about 30 percent of its crude supplies from Libya, saw supplies interrupted by the Libyan conflict.

The resumption of Libyan crude exports was expected to have an impact in the beginning of 2012.

The adjusted net profit in the fourth quarter was 10.3 million euros compared to a loss of 3.5 million euros a year ago.

-Reuters

“Gold may be entering a period of consolidation, we believe,” HSBC said in a note. “The inability of the market to clear the November 8 high of $1,803 an ounce is leading

Iraq to invite firms to start work on giant port BAGHDAD: Iraq will invite bids for the building of a breakwater in the Gulf, the country’s state port company said, the first stage of construction in a giant six billion US dollar port scheme that has been held up for decades by sanctions and war.

The port, known as Grand Faw, is to be built south of Iraq’s oil hub, Basra. Iraq has had plans to build a modern trade hub in the Gulf since the 1980s, but these were shelved early in former dictator Saddam Hussein’s rule.

Omran Rahdi Thani, general manager of the General Company for Ports of Iraq, told Reuters the Transportation Ministry would soon seek bids soon to build the breakwater, which is ex-

Dubai’s Abraaj to buy oilfield service business

DUBAI: Mideast private equity firm Abraaj Capital says it is in talks to buy the oilfield service businesses of TransAtlantic Petroleum. Dubai-based Abraaj said Tuesday it is pursuing the bid for the Viking International Limited and Viking Geophysical Services oilfield operations in partnership with a company linked to TransAtlantic Chairman and Chief Executive Officer (CEO) N. Malone Mitchell III. TransAtlantic shares trade on the Toronto Stock Exchange, but its corporate office is in Addison, Texas. It valued the deal at 164 million US dollars.

Viking has operations in Turkey, Bulgaria and Romania.

Abraaj last week announced it was buying Aureos Capital, a private equity fund management firm focused on Asia, Africa and Latin America. -AP

pected to cost around 400 billion Iraqi dinars ($340 million).

Iraq relies on ports in neighboring Kuwait for much of its non-oil trade.

A modern port is part of a long-term goal to turn Iraq into a transportation corridor between the Middle East and Europe - bypassing the Suez Canal - by rebuilding a colonial-era railway linking the Gulf to Turkey.

“If Grand Faw port is completed it would be a major event for world transportation. We will shorten the time to reach Europe from 20 days to three or four,” Thani said.

The port will include 7,000 meters (23,000 feet) of dock to receive container ships.The dock

KUWAIT: Basil Toutoungi Chief Executive Officer (CEO) of Al Kout Industrial Projects Company in the name of the Insead Alumni and in association with The Global Center Kuwait organized a presentation on “Strategic Alternatives: In Search of Differentiation” on Feb. 21, 2012 at the Marina Hotel, Kuwait. Dr. Karel Cool- BP Chaired Professor in European Competitiveness and Professor of Strategic Management at Insead delivered the presentation which was attended by distinguished guests including members of the diplomatic community, government officials and senior management of local companies based in Kuwait. This was stated in a press release on Tuesday.

Cool, in his presentation explained the kind of differentiation that will lead to market success, the factors that erode the success and rewards. He also spoke on the different strategies that lead to the success of business against the backdrop of ongoing overcapacity and economic crisis. His research, teaching and consulting focus on problems of industry

Jollibee is the largest fast food chain in the Philippines, operating a nationwide network of more than 800 stores, 79 stores worldwide, 7 in Saudi Arabia and 1 in Qatar.

Ricky Laxa Staff Writer

Huge crowd gathers outside Jollibee in Kuwait City as early at 8 a.m. in the morning of Saturday. (Photo courtesy of Kriz De Los Santos)

“We have chosen to partner with Jollibee for how it values family, friends, and the joy of eating together. Jollibee is committed to strictly adhering to the highest standards of food quality, service and cleanliness and serving great tasting food that is also budget-friendly,” said Al-Hajery.

The brand promises to provide Kuwaitis with affordable

for general cargo would be 3,500 meters.

Iraq has huge untapped oil reserves and since the 1980s has been sitting on plans for extravagant development projects, such as a metro railway system for traffic-choked Baghdad and a high-speed railway linking Baghdad to Basra.

Officials frequently talk about restarting such projects, but have made little headway since Saddam was toppled by a US-led invasion in 2003. Much of the country has only intermittent electricity and many areas lack running water. Development was halted in the 1990s by sanctions against Saddam, and since the invasion has been held up by sectarian warfare.

-Reuters

‘Strategic alternatives in search of differentiation’ presented in Kuwait

Philippines’ international fast food chain opens in Kuwait

KUWAIT: Multinational fast food chain Jollibee is breaking ground on the Middle Eastern country of Kuwait as it opened its first store Saturday morning Feb. 25, 2012, right in the heart of Kuwait City. Kuwaiti Franchiser and Managing Director of the Al-Hajery Commercial Bureau Yacoub Al-Hajery, Vice President and Business Head of Jollibee Asia and Middle East Dennis Flores, Philippine Vice Consul Sheila Monedero, Labor Attaché David Des Dicang of the Philippine Embassy in Kuwait officiated the formal inauguration of chain’s first outlet in Kuwait.

In a brief interview with Flores, he told Al Watan Daily, “We are excited to bring Jollibee and its world-class delicious food offerings to Kuwait. Being a family-oriented fast food chain, we will provide an alternative venue to enjoy each other’s company over meal time. Opening our first store in Kuwait City marks a milestone for Jollibee, one that will hopefully lead to more stores in the near future and will bring the joy of eating closer to more families.”

As for Al-Hajeri, he expressed optimism over the food brand and disclosed that his regular trips to the Philippines with frequent visits to several casual dining and fast food chains, he chose to bring to Kuwait Jollibee due to the brand’s exemplary and choice of dishes that will cater not only to Filipinos but to other nationals as well, who prefer high quality but affordable food.

Rising prices weighed on physical demand from major consumer, India, however. Gains in the rupee made the metal nominally more attractive to local buyers, but rising spot prices kept cost-sensitive buyers on the sidelines.

Among other precious metals, silver was up 0.6 percent at $35.56 an ounce. The grey metal is facing resistance at $35.70, but a breach of this level could spark significant fresh gains, analysts said.

The gold/silver ratio, or the number of silver ounces needed to buy and ounce of gold, dropped below 50 for the first time since late October as silver outperformed.

Holdings of the world’s largest silver exchange-traded fund rose 22.7 tons on Monday, and are up 109.8 tons since the beginning of the year. In the same period of 2011, they fell 255.2 tons.

Elsewhere, spot platinum was up 0.3 percent at $1,707.99 an ounce, while spot palladium was up 0.6 percent at $705.72 an ounce.

Platinum group metals prices have retreated from fivemonth highs, although a strike in major producer South Africa persisted. Impala Platinum, whose Rustenburg mine has been affected by the action, says it has already lost 80,000 ounces of platinum output to the stoppage.

“The situation is continuing to progress slowly... with the company announcing yesterday that it will re-hire about 87 percent of the dismissed workers. As of yesterday, 9,000 workers had returned to work,” said UBS in a note.

“Nevertheless, we doubt that the potential for a supply shock out of South Africa is enough to justify a significantly higher platinum price.” -Reuters

and everyday delicious food and the highest standards of quality, cleanliness and service that it has become known for. This will ensure customers have the same Jollibee worldclass experience wherever they are in the world.

The people of Kuwait can soon enjoy Jollibee’s delectable offers such as its crispy and juicy signature fried chick-

and competitive analysis (e. g. industry overcapacity; profit dynamics, product standards, critical mass races, value creation, building unique resources). He has published in many journals, including Management Science, the Strategic Management Journal, Organization Studies, Marketing Letters, Advances in Strategic Management, etc, and has edited and contributed to several books. Al Kout Industrial Projects Co. (AIP) is a KSE-listed company, with operations in Kuwait and the UAE. Its core business is chlor-alkali chemicals being supplied to domestic and international markets from its operations in these two countries. The AIP group also includes ALTC a logistics company and Al Kout Petrochemical Products a leading manufacturer of oilfield chemicals on behalf of Champion Technologies- US. The Global Center in the College of Business Administration (Kuwait University) was founded in 2007 to initiate with 25 private sector partners programs for executive education with the involvement of leading business schools.

en, its Yum burger made with 100 percent pure beef and its meaty Jollibee Spaghetti; all of which are served fresh, hot and fast.

Jollibee is the largest fast food chain in the Philippines, operating a nationwide network of more than 800 stores.

A dominant market leader in the Philippines, Jollibee enjoys the lion’s share of the local market that is more than all the other multinational brands combined. The company has also embarked on an aggressive international expansion plan, and currently has 79 stores in the US, Vietnam, Hong Kong, Saudi Arabia and Brunei, firmly establishing itself as a growing international QSR player. “Within the first quarter of 2012, Jollibee will continue to spread its wings to more states around the Middle East as part of the brand’s international expansion,” added Flores. Currently Jollibee has seven stores in Saudi Arabia and one in Qatar.

Jollibee aims to spread joy to families all over the world through affordable and everyday delicious food. The company sees great potential in furthering its international expansion because of its widely accepted food offerings. The store occupies the ground, mezzanine and basement floors of the building and can comfortably seat 280 persons. Wherever in the world Jollibee sets foot in, products and service are sure to abide by the same high quality standards. With Jollibee, customers can expect affordable and everyday delicious food and top service the same tried and tested formula that has keyed the brand’s successful international expansion.

“The opening of the first Jollibee, first Filipino fast food store in Kuwait, we are hopeful that other brands will soon follow such as renowned “Chow King”. I extend my congratulations to Al-Hajery Company for taking this bold step and introducing one of the first Philippine names in food industry that has earned the trust and confidence of food aficionados worldwide. We are sure that Jollibee will hold strong foundation in competition with other international brands and we are confident in saying that Jollibee will open few more branches in Kuwait,” concluded Labor Attaché Dicang.

ALWATAN DAILY

MARKETS

Kuwait CMA: resolving conflicts, issues

KUWAIT: Kuwait Financial Center (Markaz) recently released an update to its April 2010 report on the Kuwait Capital Market Law in which it benchmarked against Saudi experience with the same in terms of market expectations.

A year later, Kuwait found itself in the midst of implementing the Capital Market Authority (CMA) Law and its Regulations, with all related stakeholders still trying to gain a grip on the issue and its various implications. CMA provisions affect different players via different modes.

Major impact of CMA provisions are observed for the fund industry with implications for other players such as investment bankers, listed companies and service providers. The gamut of impact range from operational to procedural and in some cases tend to impact the business model itself. The authors have identified 21 issues regarding the various regulations and laws issued by the body.The majority of these relate to Fund activities, with an even split between Business model, Operational and Procedural issues.

The authors make a few broad contextual remarks before delving into the findings of the report. The Capital Market in Kuwait, and to a great extent in the region, has always been one- dimensional (equity focused). The organic growth of the market (measured in terms of number of companies listed and growth of liquidity) has always been weak and hence stock market (an important constituent of capital market architecture) remained a place to do some speculation and little capital raising (measured in terms of rights issue). The broad stock index composition never mirrored that of the broad economy. Banks were the main financial intermediary and were well represented in stock markets as well. However, with the financial crisis more than four years behind us, banks have developed caution (read: risk aversion).This will mean that financial intermediation will now shift in a serious way directly to capital markets with companies using it as a venue to raise alternative capital. Also, companies would require debt as much as equity and this means the role of capital markets will become multi-dimensional; all of which adds up to tough responsibilities for a new regulator. The launching of a CMA is more of a flow than a stock. It gains momentum over time and gradually gains pace.A strong and rigorous coordination among various stakeholders will make sure that this is not a false start.

Following an in-depth analysis and study of the CMA Regulations and their impact on various areas of the financial sector, the au-

thors have provided suggested action steps for the CMA to follow in order to ensure a smooth transition to full compliance. These suggestions are both macro and specific in nature: Summary of key recommendations: The CMA should:

1. The CMA should require full disclosure of board member involvement in other firms, in addition to monitoring those individuals or groups which have a wider degree of influence on the market. This would be more effective than instituting a ban on cross membership.

2. The CMA has highlighted the equity conflicts of interests. They also need to enhance clarity on debt conflicts of interest and the regulatory stance to mitigate them.

3. All funds (foreign or domestic) need to be routed through CMA. Establishment of a fast track clearance for a fund vetted by a foreign regulator would be useful.

4. Promotion and selling expenses of the fund are to be borne by the Fund Manager.

Realistically, the fund would pay this directly or indirectly, it is essential to prevent misselling and regulate the items of expenditure rather than who bears it or the amount.

5. Needs to elaborate on the role of cash as part of the Fund’s objective. Holding cash is a function of the market condition and the fund’s strategy. For e.g. an opportunistic fund may hold cash for a significant time waiting for the right opportunity.

6. During extreme market conditions, the fund manager may have to take decision in minutes. Role clarity is needed on the ability of the Fund Manager to make unilateral decisions without waiting for the Board to convene and decide.

7. Issue explanatory circulars to fully flesh out the restrictions placed on Board members in terms of participation in Funds and entities.

8. Clarify the duties expected of Board members, qualifications and any limits placed on the same in terms of membership on other Fund boards which may produce conflicts of interest.

9. Application guidelines are needed to enable the fund manager to do adequate reporting rather than over or under reporting.

10. Concerning appointment of auditors; Kuwait may not have enough qualified external auditors to handle all the funds. This cou-

pled with frequent changes, once in 3 years, may dilute the rigor of audit.

11. If a licensed person manages more than one mutual fund, they must separate the management and the operations of each fund.

Segregation of the back office is a must but the CMA also needs to encourage segregation of portfolio management from trading activities.

12. Provide clarity on the process by which Fund Managers are chosen (by the CMA) in the event that unitholders have voted to oust the current manager.

13. Provide clarity on margin lending regulations and whether they contradict the CBK circular requesting firms to disengage from lending activities.

14. Issue an explanatory note on Article (147) in regards to fee sharing and discounts and whether they are permissible or constitute an incentive.

15. CMA needs to issue selection criteria for the critical positions. Employee holding more than one registered function should be a stop gap arrangement rather than a norm.

16. CMA may require passing a qualifying test to fill the registered functions. The qualifying criteria needs to weigh in experience and have a provision for upgrade exams/portability of international certifications.

17. Consider lowering regulatory costs related to listing, licensing, M&A etc, in order to improve compliance among firms and not discourage activity.

18. Clarify the 30 percent ‘takeover trigger’ as it could be the result of a passive action for e.g. rights issue, increased treasury shares etc.

19. Issue regulations concerning minority squeeze-outs and drag-along rights, particularly as they relate to the 30 percent takeover trigger.

20. Share holders having portfolio accounts across firms may need to aggregate their holdings and disclose it to the regulator or Investors need to have unique investment numbers/identifiers identifying them as the beneficial owner.

21. CMA should clarify Broker business practices, Brokers should be adequately monitored with the CMA spelling out fines and penalties for unethical behavior.

The creation of the CMA has impacted four distinct stakeholders; namely, Funds, Investment Companies, Corporates, and Service Providers.

Trading Prices of Kuwait Exchange Trading Prices of Kuwait StockStock Exchange

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

High

Low

1,180

1,160 475 640 860 248 450 810 560

1180 475 720 640 870 250 450 830 560 318.05

110 255 64 168 330 17.5 62 23.5 114 116 34.0 134 57 28 38.0 39.0 74 162.0 106.0 23.0 29.0 67.0 172 29.0 66 53 49 122

110 255 67 170 330 18.0 62 25.0 130 23.5 230 116 118 50 52 34.5 134 59 28.5 71 39.0 48.5 66 26.0 244 51 38.5 51 39.5 76 170.0 108.0 25.0 30.0 70.0 29.0 172 255 114 29.00 58 66 53 51 64 42.50 128 82.63

108 260 64 168 340 17.5 63 25.0 130 23.0 230 114 114 50 52 32.5 130 58 27.5 71 39.0 48.5 66 26.0 244 51 38.5 51 38.5 73 168.0 106.0 25.0 28.5 67.0 29.0 176.0 255 114 30.50 58 66 56 50 64 42.50 122 82.29

300 560 455 148 220 122 40.50 43.03

300 560 455 148 220 122 40.50 43.03

58 112 134 51.0 99 870 70 19.5 57.0 81 57 57 72 21.5 40.0 40.0 37.5 30.5 27.0 23.0 62 300

59 112 136 210 37.5 230 118 80 52.0 120 100 870 71 19.5 59.0 82 60 59 80 34.0 72 22.0 87 17.5 40.0 57 80 118 43.0 39.0 32.0 27.0 24.0 134 134 220 63 315 53.30

58 112 142 210 37.5 230 118 80 48.5 120 100 870 69 19.0 58.0 82 58 57 80 34.0 71 21.0 87 17.5 39.5 57 80 118 40.5 39.5 30.5 27.5 22.5 134 134 220 62 310 53.09

226 128 138 1,420 320 900 200 445

236 130 430 138 1,420 320 182 900 200 114 445

226 128 430 140 1,400 325 182 920 190 114 470

480 640 870 255 450 830 570

Global Index - Banking 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. Exch KW BH Int'l Int l Exch.

Taiba Kuwaiti Holding

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

110 255 67 172 340 19.0 65 24.0 120 122 35.0 136 60 29 39.0 41.0 76 176.0 112.0

25.0 31.0 72.0 178 29.0 66 53 52 128

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

60 112 142 52.0 100 870 71 21.0 60.0 82 60 59 74 22.0 40.0 43.0 41.5 33.0 27.0 24.5 63 315

Global Index - Real Estate Nationl Ind. Group Pipes Ind. & Oil Kuwait Cement Refrigeration Ind. Gulf Cables & Elec.

Heavy eng. & Ship.

Marine Services Portland Cement Shuaiba Industrial Metal Collecting Kuwait Foundry

236 130 138 1,420

325 910 200 445

1180 485 720 650 860 250 450 820 570 318.52

Previous Close Change 180.69 0.32 24.80 6,091.80 Trading Activity Tran. Value(KD) Chng Volume

DTD 0.18% 0.41% Last Bid

Last Ask

MTD YTD 1.01% 0.95% 5.20% 4.22% Div. Annual Close High Low P/E Yield

46 13 2 3 41 6 49 11 171

1,701,950 416,550 12,800 21,700 661,330 184,500 512,950 61,700 3,573,480

1,180 475 710 640 870 250 450 820 560

1,200 480 750 650 880 255 455 830 570

3.4% 0.0% 2.1% 3.1% 1.6% 0.0% 0.0% 2.4% 0.0% 2.0%

1,180 510 790 680 910 260 475 900 590 326.42

1,100 475 710 640 790 236 450 820 560 317.17

15.53 32.58 82.87 17.34 30.38 23.78 12.00 23.64 106.53 18.72

2 660,000 -5 110,000 3 38,560,000 2 1,500,000 -10 610,000 56,000,000 0.5 -1 3,120,000 160,000 1 2 13,720,000 3,300,000 2 2.0 1,360,000 4 13,020,000 4,880,000 1 320,000 1 1,280,000 9,360,000 1.0 5,360,000 3 8,980,000 2.0 12,480,000 2.0 400,000 25,920,000 1.5 3.0 29,960,000 4.0320,000 -1.5 80,000 440,000 -3 80,000 1 320,000 6 7,120,000 0.34 239,420,000

16 4 227 28 17 292 47 2 183 82 16 129 88 4 15 75 82 189 276 5 212 370 16 1 9 2 7 175

108 255 66 168 335 17.5 62 23.0 112 116 34.0 132 58 28 38.0 64.0 39.0 76 168.0 108.0 25.0 29.5 69.0 172 250 29 53 66 49 128.0

110 260 67 170 340 18.0 63 25.5 238 116 120 35.0 134 59 29 39.5 71.0 246 56 39.5 77 170.0 110.0 26.0 30.0 70.0 176 255 30 67 61 51 130.0

0.0% 8.6% 0.0% 0.0% 6.1% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 8.5% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 5 1% 5.1% 0.0% 0.0% 0.0% 0.0% 0.0% 9.8% 0.0% 0.0% 0.0% 2.4%

110 265 67 174 340 18.5 65 25.0 130 36.0 230 122 118 50 52 35.0 134 62 29 71 39.0 48.5 70.0 26.0 244 54 39 51 41.0 76 212.0 130.0 25.0 33.5 96.0 29.0 176 255 114 31 68 66 60 51 64 42.5 134.0 82.63

104 255 40 158 295 11.5 50 25.0 130 21.0 230 102 102 50 52 24.0 106 47 21 71 28.5 48.5 64.0 26.0 244 51 36 51 26.0 61 99.0 19.5 19.0 16.0 38.0 29.0 154 255 114 26 58 50 53 47 64 42.5 112.0 74.96

42.09 11.86

2,569

72,600 28,050 2,541,240 254,280 205,450 1,014,920 197,440 3,800 1,594,120 390,760 47,120 1,757,280 288,320 9,040 49,080 370,880 402,640 1,525,680 1,359,680 9,720 776,200 2,088,400 55,920 2,320 29,040 4,240 16,120 893,040 15,987,380

-

-

-

290 510 440 112 -

300 570 470 146 33.0

6.7% 4.5% 5.5% 6.8% 2.7% 0.0% 0.0% 4.8%

325 560 520 148 220 134 40.5 44.80

280 550 450 102 220 102 40.5 42.22

15.67 12.90 9.29 23.37 296.83

11,400,000 1,260,000 1,560,000 3.5 7,680,000 1,160,000 140,000 160,000 2 0.5 34,000,000 1.0 14,880,000 10,400,000 2 3,000,000 2 1,520,000 1 1,520,000 1.0 2,640,000 0.5 320,000 3 62,080,000 0.53,040,000 1.5 5,200,000 80,000 0.57,520,000 1.5 1 80,000 5 1,870,000 0.21 171,510,000

72 18 46 57 13 7 4 249 137 57 66 26 27 25 4 276 31 63 1 58 2 84

58 110 136 208 35.0 228 79 52.0 100 860 70 19.5 58.0 82 59 58 81 33.0 72 21.5 87 38.5 118 43.0 37.5 31.5 25.0 23.5 32 62 310

59 112 138 210 37.5 232 85 130 102 880 71 20.0 59.0 83 60 59 36.0 73 22.0 39.5 58 85 120 39.0 32.5 27.5 24.0 134 34 224 63 315

0.0% 0.0% 0.0% 9.5% 0.0% 4.3% 0.0% 6.3% 0.0% 5.8% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.7% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.7% 0.0% 0.0% 0.0% 0.0% 1.1%

59 118 142 210 37.5 236 130 82 52.0 120 104 870 80 20.0 59.0 83 75 60 90 38.0 73 23.0 91 17.5 40.5 59 80 144 43.0 39.5 32.0 28.5 25.0 134 33 220 70 480 53.30

47 97 108 200 37.5 224 114 77 27.0 108 94 840 62 11.0 35.0 77 56 52 80 33.0 59 13.5 87 17.5 31.0 57 64 116 27.5 22.0 25.0 25.5 15.0 134 32 220 49 270 49.06

45.72 14.37 24.36 18.72

1,323

673,040 141,120 214,400 398,280 115,600 121,800 11,280 683,440 874,480 852,760 175,720 88,840 111,400 57,480 12,800 2,639,480 121,440 167,920 2,160 178,640 5,000 573,500 8,220,580

12,160,000 320,000 100,000 5,000 50,000 155,000 20,000 10,000

178 12 1 1 5 11 1 1

2,821,080 41,520 13,800 7,100 16,050 140,100 4,000 4,450

236 128 430 136 1,420 315 172 890 200 108 -

130 440 1,440 325 182 910 112 445

0.0% 0.0% 2.3% 3.6% 4.6% 3.1% 2.7% 11.1% 5.0% 0.0% 4.5%

260 134 470 158 1,480 345 222 920 200 116 495

214 120 420 138 1,380 315 172 660 180 102 445

71.79

Ex-D 1 -6 -

10 2 -2 20 -5 -20 10 -25

Prior to CMA, Mergers and Acquisitions were not regulated efficiently meaning that small investors did not always have all the information to act on offers. The current regulation has protective clauses to safeguard the interests of small investors. Acquisition of a significant stake in a listed company tends to bring change in management and hence warrants regulation and fair play. During such acquisitions, it is important to protect the interests of minority shareholders by treating them in an equitable manner while at the same time avoiding the tyranny of a small malevolent minority.

The provisions of acquisition will involve both listed companies and unlisted companies.

It is quite possible that a listed company takes over an unlisted company and vice-versa. The CMA regulations will come into play in all such circumstances except where an unlisted company takes over another unlisted company.

1. Funds

The CMA regulates fund activities and their operations in terms of models, governance, capital raising etc through various executive regulations. There have already been a great deal of issues and questions from fund managers and investment professionals concerning a few of the articles contained within the law which either require clarification or are contentious and seen as prohibitively restrictive. Consequently, the CMA has already begun issuing explanatory papers to clarify some of these issues before the respective deadlines.

Moreover, many aspects of the Private Equity (PE) model are coming under question here as the CMA Fund regulations are almost entirely opposite to the ‘normal’ functioning of a Private Equity Fund. These aspects include Capital Raising (whereby Drawdowns are prohibited) in addition to structure issues (such a Board membership and control).

Various other elements of Fund Management are affected by the regulations including governance, capital raising, unit-holder activism etc.

4. Service providers

Currently, we have 14 registered brokers in Kuwait and the new CMA law is entitled to offer licenses to any person who fits the rules and regulation. To become authorized, a Broker would have to pay a license fee and an annual service fee. It is premature to argue that the new provisions will induce a proliferation of brokers as happened in Saudi Arabia. Pursuant to the launch of Saudi CMA, the number of authorized brokers swelled from a modest eight in 2005 to more than 100 by 2010. At the same time, value traded (which actually provides business to brokers) slumped from 1.1 trillion US dollar to $338 billion leading to diffusion of business activity.

By reducing red tapes around setting up a brokerage firm the CMA would benefit from Licensing fee and annual service fees payable to it. It is expected that the number of brokerage firms will see an increase while commission fees are capped. However, brokerage firms may resort to churning and other unethical activities to boost the bottom line. From a customer perspective competition is healthy and so we may see a differentiation in services provided whereby brokerage firms could offer training, company research and investment strategies to clients based on risk tolerance thereby increasing the sophistication of the investor base.

All in all being liberal in handing out licenses should go hand in hand with being liberal in revoking licenses when brokerage firms stray.

2. Investment companies

The CMA regulations provide many guidelines and stipulations which will affect the portfolio/wealth management and Investment Banking industry in the country. Disclosure and increased client information are high on the regulations list of stipulations. Additionally, restrictions are placed on margin lending.

By regulating margin deals, the CMA is sending a clear message that all activities related to the securities industry are under its purview.

The margin lending segment needs to factor in that the Central Bank has sent a circular to investment firms requesting them to segregate the investment management aspect from the lending aspect. It is unclear if margin lending would also be construed as lending. Additionally, from the investment firm’s end, the CMA regulations are unclear as to whether fee sharing or the discounting of fees is permissible or whether the same is to be considered an incentive. Most financial institutions also have employee incentive schemes linked to sales. Furthermore, it is common industry practice to have selling agents and institution level sharing of referral fees.

Date of Closing Prices:

1,442,500 870,000 20,000 25,000 2,650,000 410,000 625,000 110,000 6,152,500

-10 -10 10 10 -10 0.47-

3. Corporates

05 / 01 / 2012

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

For more Information please contact "Global" at (+965) 180 42 42 or www.globalinv.net Last Close 181.01 6,116.60 Last Prev.

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Impacted areas of market

Trading Prices of Kuwait Stock Exchange Date of Closig Prices: 28/02/2012

Date of Closing Prices: 28 / 02 / 2012 For more information please contact “Global” at (+965) 180 42 42 or www.globalinv.net

Global General Index KSE Price Index

11

WEDNESDAY, FEBRUARY 29, 2012

88.93 13.34 1.92 0.00

0.00 0.00 0.00 0.00 0.00 0.00 31.36 0.00 116.80 0.00 0.00 0.00

0.00 9.02 22 77 22.77 11.92 36.68

0.00 5.19 12.37

12.43

16.64 5.16 16.98 40.87 21.95 0.00 15.31 28.75

6.52 25.08 12.99 5.12 43.46

23.07 18.82 0.00 0.00 17.33

17.57 6.49 7.66 166.41 120.19 12.12 25.37 25.90

ACICO

212

Global General Index 98 United Industries Boubyan Petroch.

600 KSE Price Index

Gulf Glass HilalCompany Cement High Al Kout Ind. Project 1,140 National K-PAK Bank Gulf BankMaterial 495 Building Commercial 770 Nat. Ind.Co.Bank Ahli Bank 640 Equipment Holding 63 Ahli United Bank 850 Mena Holding International Bank 248 Consumer Industries 102 460 Burgan Bank Kuwait Gypsum 890 Kw Finance House 214 Qurain Bank Boubyan 590 Salbookh Trading 46 Global Index - Banking 178 IKARUS Kw Investment Boubyan Int'L Ind. 75

208 97 580 Low 1,120 490 770 640 58 800 248 102 455 880 212 580 46 176 75

265 260 Commercial Facilit.

Global Index - Industrial 41 40 Int'L Financial Adv. 1,020 NationalInvest.

Cinema 1,000 174 National 170 KwProjects Hotels 300 Kw 300 400 Agility 420 12.5 Ahlia Holding 13.5 Coast Invest.

53 52 52 51 Market Complexes -860 -850 Int'L Investor ZAIN Securities House 76.0 73.0 Safat Energy Ind. & Fin. Inv.Group Educational -Securities Group -Indep. Petroleum Int'L Finance National Cleaning 126 124 110 MARKAZ 108 128 Sultan Center 120 -KMIFIC -Arabi Group Int'L Inv. Group City Group Aref Inv. Group Wataniya Tele.

Investment Dar Kw Gulf Link 108 106 Al AMAN Inv. Kw Cable ALOLA Inv.Vision 110 108 Automated ALMAL Inv. System 50 49 NAPESCO -Gulf Inv. House -KCPC Leasing 265 265 A'ayan K.S.HInv. 32.5 - 31.0 Bayan Eyas GLOBAL Inv. Hits Telecom - 94 - 88 Osoul Inv. Al Safwa Holding 23.5 -22.0 GULFINVEST KFIC Human Soft KAMCO 71 Privatization Holding 76 Int'l Leasing & Inv. --Nafaaes Holding -Nat. Int'l Holding -National Slaughter Housing Finance 110 102 Aref energy MADAR --Safwan 26.5 Al Deera Holding 26.5 68.0 63.0 Gulf Petroleum Al Safat Inv. 23.0 Gulf Franchising 23.5 122.0 Al Salam Credit & Group Collection - 114.0 39.0 41.0 Ekttitab Holding 19.5 20.5 National Ranges Al Qurain Holding Burgan Well Drilling 16.5 Sokouk Holding 16.5 490 38.5 490 IFA H&R Al-Madina Finance 40.0 1,520 1,520 Combinted Group NOOR 76 76 Jeeran Holding Tamdeen Inv. 160 158 Palms KW BH Agro Int'l Exch.

--71.0 73.0 Safat TEC Taiba Kuwaiti Holding 86 84 Mushrif Trading Kuwait Syrian U it d P j t United Projects -Strategia -300 ALAFCO 295 53 53 Kuwait China Inv. Al-Muwasat --Manafae Inv. Gulf NorthHolding Africa 212 Mashaer 204 Amwal 275 Oula Fuel 270 Al MasarComm.

-265 -265 Future 124 Al-Imtiaz 132 75 77 Hayat Comm.

Global Index - Investment 59 Mubarrad Transport

KuwaitInsurance Resorts Kuwait Advanced Technolgy Gulf Insurance Yiaco Medical Ahlia Insurance Al Jazeera Airways Warba Insurance Al Soor Fuel Kuwait Re-Ins. First Takaful Future Kid Ins. Wethaq K G L Insurance

--

--480 112 ---224

Al Nawadi Global Index - Insurance -

56 ---465 108 ---224 136 48 100 -

Alrai Media 138 Kuwait R.E. 48 Zima Holding United R.E. 100 Global R.E. Index - Services 118 National 126 200 Salhia R.E. Trans.

204 LiveStock 196 192 -108 Pearl -112 DanaR.E. Al-Safat 224 224 Tamdeen R.E. United Poultry Ajial R.E. 1,440 1,440 Kw FoodStuff Massaleh R.E. United Food Arab R.E. 30.0 30.0 Kout Food Union R.E. Global Index - Food 98 96 ERESCO 860 840 Mabani Sharjah Cement 94 89 75 74 INJAZZAT RE 102 Gulf Cement 100 Inv. 63 11.5 62 UmHolding QuwainGrp Cement 12.0 -108 -112 Int'L Resorts Fujaira Cement 78 77 Commercial R.E 124 Ras AlKheimah 124 70 65 Sanam R.E. ARIG 54 53 Aa'yan R.E United Gulf Bank Aqar Egypt Kw Holding 325 325 Kuwait R.E Holding Bahrain Kw Ins. 59 AL Mazaya 60 Gulf House 72.0 14.0 69.0 Al DarFin. National R.E 14.0 42 Inovest Int'L Holding 46 Themar Grand R.E Projects Ahli United Bank -24.0 Tijara & R.E Invest Ithmaar Bank 25.0 Al Tameer Global Index - Non-Kuwaiti Arkan Al-Kuwait R.E 70 70 Markaz Real Estate Safat Global Al Argan Int'L Funds Investment 28.5 28.0 Abyaar Al-Bareeq Holding 23.5 23.5 Munshaat AFAQ 25.5 First Dubai 26.0 Al-Shamel KBT 27.0 27.0 Al-Safat Real Estate 16.5 26.5 15.5 26.5 Manazel Ajwan Real Estate REAM Specialities Group 280 270 Mena Real Estate Masaken Al Moudon Inter.

Intl. R.E --Dulaqan R.EEstate Markaz Real 57 56 Eid Food Kuwait Remal R.E 295 285 Maidan Index Clinic - Real Estate Global Flex

-

-

-

Nationl Ind. Group 232 Dar Al-Thuraya Real E 242 Pipes Ind. & Oil 128 126 Kw Medical Services Kuwait Cement 455 450 Amar For Fin. & Leas.

-Refrigeration Ind. 1,420 1,420 Total Parallel Market Gulf Cables & Elec.

Heavy eng. & Ship.

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

Global Index - Islamic

Last Close Previous Close DTD MTD YTD 10 100,000 4 Change 21,000 212 202 4.7% 224 196 24.45 204 212 -0.40% -1.55% 177.24 -0.7066,600 -1.55% 680,000 13 97 176.5397 0.0% 102 94 35.25 97 98 580 1,745,000 46 -27.30 1,029,600 6005,726.90 20 5,754.20 5.8% 600 550 85.56 590 -1.50% -0.47% 600 -1.50% 1,400 1,400 1,400 1,220 21.05 1,500 2.9% Last Prev.

Trading Activity Div. Annual Close Last Last 206 206 216 206 10.69 216 4.9% Close Close Volume Tran. Value(KD) Bid Ask Yield High Low P/E Chng 350 350 Ex-D 350 350 7.76 5.7% 350 3,796,050 1120 1120 69 3,377,500 1,140 1,120 14.74 300 300 - 1,120 300 1,100 300 14.44 375 3.6% 6.7% 20 495 495 830,000 407,950 490 495 510 490 33.95 Ex-D 228 228 228 226 27.57 218 236 0.0% 0.0% 770 770 10,000 1 7,700 - 770 780 790 770 88.62 295 295 320 260 18.93 285 315 1.9% 2.7% 640 -20 5 280 6,400 660 10,000 64063 660 - 3.1% 66063 64051 17.34 58 357,440 63 5,800,000 30.19 0.0% 800 50 850 350,000 23 282,700 840 850 1.6% 850 790 29.68 33 33 33 33 0.00 0.0% 16 248 248 700,000 173,600 246 248 0.0% 255 248 23.59 102 98 20,000 1 2,040 4 102 93 0.0% 102 460 465 -5 500,000 10 229,750 460 465 0.0% 475 460 12.26 128 128 128 128 17.06 9.4% 890 -10 880 1,280,000 66 1,127,050 880 2.3% 900 880 25.07 870 212 220,000 214 46,680 222 210 112.24 8.63 214 0.0% 0.0% 212 590 590 607,850 -2 1,035,000 33 5 590 580 590 590 46 45 3,640 1 1 80,000 50 41 46 45 0.0% 319.37 319.54 8,092,500 6,639,050 2.0% 319.54 318.41 18.61 0.17240 176 176 148,640 840,000 27 180 162 10.34 178 176 0.0% 106 106 -1 -1 10274 10677 0.0% 10688 10670 40.56 75 3,000 74 40,000 0.0% 260 265 -5 250,000 14 65,750 260 265 8.5% 265 260 12.09 2.11 169.61 163.04 10.77 169.57 167.45 4,726,740 22,345,000 388 2.7% 1,680,000 52,500 1,040,000 110,000 5,190,000 7,040,000 - -10 1,280,000 -1 1 360,000 - 10 3,160,000 2.0 15,680,000 - -- -460,000 --2 680,000 2,040,000 - - -2 680,000 - 500,000 -1 320,000 - - 5 110,000 1,840,000 - - 28,080,000 2 57,920,000 - -5 21,320,000 - - - - -6 1,000,000 - - - 3.0240,000 12,760,000 0.5 1,360,000 8.0 - 11,180,000 2.01,920,000 43,440,000 0.5 480,000 10,000 5 0.510,640,000 5 45,000 80,000 2.0-1 80,000 - 3.0 3,160,000 560,000 1.0- - 40,000 - 200,000 - - 2,880,000 10 --5 70,000 -25 30,000 -1.0 2 1,240,000 600,000 0.12- - 40,720,000 640,000 -1 80 --2 5 -

67,160 40 52,550 1,000 177,720 168 33,000 295 2,125,100 90,920 405 12.5 67,280 18,560 5151 - 850 2,698,550 1,164,160 74.0 - - - 57,440 124 73,920 106 252,360 122 - -85 2,000 73,160 106 27.0 54,920 108 15,840 49 - 21 29,150 265 58,760 31.0 - 2,584,440 64.089 1,328,320 -23.0 - -76 1,587,800 - -87 - 134 107,920 106 - 550 6,360 26.0 824,000 31,520 23.0 1,305,280 - 118.0 77,080 862,120 19.0 18.0 7,920 16.0 4,900 419,440 38.5 68,400 1,520 6,080 12,680 15673 - - 227,640 73.0 47,800 -85 310 - 63 11,900 295 10,600 52 - 150 602,640 210 19,100 265 - 270 7,950 157,920 45,880 124.074 2,702,550 37,000 58

40 1,020 170 280 300 410 12.5 52 52 25.0 860 130 75.0 31.0 110 230 310 102 124 108 124 50 84 44.0 530 52 2,000 74 106 28.5 63 108 238 49 375 23 265 71 260 31.0 260 48.5 90 68 23.5 20.5 270 26.0 244 76 94 92 51 154 36 110 51 600 26.5 65.0 75 23.5 120.0 120 39.5 19.5 19.0 255 16.5 490 38.5 1,520 29.0 76 158 86 255 73.0 114 85 26.00 325 68 300 53 130 60 46.5 212 64 270 42.50 265 128 77 75.90 58

41 1,100 172 280 295 420 12.5 53 51 25.0 850 130 73.0 31.0 110 230 310 102 124 112 126 50 84 44.0 530 52 2,000 74 108 28.5 63 108 238 49.5 375 23 270 71 260 31.0 260 48.5 90 68 21.5 20.5 26.0 270 244 71 94 92 51 154 36 104 51 600 26.5 68.0 75 23.0 112.0 120 41.5 19.0 19.0 255 16.5 485 39.0 1,540 29.0 75 160 86 255 70.0 114 86 26.00 325 68 300 53 130 60 46.5 202 64 275 42.50 290 130 76 76.02 58

48.0 325 640 560 375 485 480 110 242 220 114 104 40.50 224 80 43.43

48.0 325 640 560 375 485 480 118 242 220 114 104 40.50 222 80 43.63

- -8 Ex-D - -2 0.19- -

- - - 22 6 - - -1 6 -

- - - 169,200 13,200 - - 4,480 13,200 -

136 48 110 100 768.25 124 200 192 37.5 112 224 126 120 1,440 82 390 30.0 500 108 352.01 97 860 90 75 102 11.5 62 38.0 108 78 124 65 132 54 230 90 325 38.0 455 59 72.0 14.0 91 45 17.5 192 31.0 24.5 59 47.16 70 122 48.5 124 28.0 144 23.5 106 25.5 250 27.0 26.5 15.5 55 134 280 134 57 220 345 57 106 295 1,860 49.73

138 49 110 99 764.71 120 204 186 37.5 110 234 126 120 1,500 82 390 30.5 500 108 362.92 98 850 94 73 102 12.0 63 38.0 108 77 120 70 132 55 230 90 315 38.0 455 63 69.0 14.5 91 44 17.5 192 31.023.5 59 46.79 74 122 48.5 124 28.5 144 24.5 106 26.0 250 27.0 24.0 16.5 55 134 260 134 57 220 345 58 106 290 1,860 49.75

140,000 17 -1-2 80,000 9 1 920,000 2,052 3.54 202,247,500 4 105 3,100,000 12 -4 6 520,000 5 140,000 -2 77 3,940,000 3 10.0100,000 -60 5,000 1 1 80,000 0.54,085,000 10.91-1 320,000 883 10-4 1,935,000 5710 440,000 210 120,000 2 800,000 15 8 0.52,000,000 480,000 -1 820,000 25 3 1 240,000 4 20,000 1 17 1,000,000 -5 4 -1 200,000 30,000 2 Ex-D 11 440,000 -4 44,920,000 388 1 80,000 0.5-3 1 19 1,600,000 - - 4,400,000 45 1 53,510,000 508 0.36 -4 320,000 2 - - - - 12 0.5- 2,720,000 1.080,000 1 0.5240,000 3 Ex-D 35,040,000 4 2.5 240,000 3 1,200,000 8 1.0- 60,000 - 20 -5 - -1 240,000 6 47 5 2,110,000 0.02- - 53,085,000 - 332 -

19,120 3,840 92,000 15,069,240 383,920 104,680 27,360 434,880 22,400 7,200 2,400 469,440 31,160 1,656,950 39,760 8,960 80,200 23,960 30,120 90,920 18,520 2,480 67,400 10,720 9,750 26,160 3,180,720 1,120 71,200 - 108,560 3,613,710 22,400 - - 76,880 1,880 6,160 946,080 6,360 19,240 - 16,700 - 13,520 610,850 4,151,200 -

232 89.0 128 65 450 65 150 1,420 335 212 720 180 104 460

242 -10 13,220,000 89.0 - 154 128 140,000 6 65 470 -20 50,000 2 65 150 - - - 300,000 1,460 -40 2,500 18 335 7,094 212 - 699,270,000720 Close 230,000 19 Prev. Close 180 189.76 189.50 106 -2 80,000 3 186.62 460 186.88 -

36.0

36.0

---

Ex-D

559.00

- - - 360,000 120,000 - - 20,000 120,000 -

13 20 2 5 119 46 22 7 95 161 - - 16 1874 - 16 14 4 - 11 22 - 314 348 - 213 - - 37 - 2 227 14 212 24 223 5 1 93 12 42 - 34 12 - 23 - 45 -7 -2 3815 55812

-

554.31

-

-

48.5 300 510 360 460 475 108 236 - - 222 75 136 48 99 122 200 188 - 110 116 110 1,440 112 95 860 71 11.5 100 35.562 77 108 124 53 320 13.5 9071 - 45 30.0 190.0 70 116 28.0 23.5 106 25.0 24.5 26.5 15.5 255 29 218 55 29084

-

-

3,111,120 -17,800 122 22,550 455 - 150 23,060 1,420 3,550 310 51,660,570 165,600 Change 710 178 0.26 8,480 104 0.26 435

4.69

40

0.0%

3.9% 1,100 172 0.0% 0.0% 300 - 6.7% 410 0.0% 9.8% 13.0 5253 0.0% 0.0% - 860 0.0% 23.3% 0.0% 0.0% 75.0 33.5 - 0.0% 0.0% 0.0% 335 9.7% 0.0% 126 0.0% 110 124 9.3% 0.0% -89 0.0% 0.0% 560 0.0% 0.0% 0.0% 2,020 2.5% 0.0% 108 0.0% 29.5 0.0% 0.0% 11068 0.0% 10.5% 50 - 0.0% 5.3% 395 0.0% 24 1.9% 270 0.0% 6.0% 32.5 - 0.0% - 0.0% 3.8% 0.0% - 90 0.0% 0.0% -23.5 0.0% - 0.0% 0.0% 238 - 0.0% 0.0% -97 0.0% 0.0% 54 - 0.0% 5.2% 0.0% 110 0.0% 0.0% 570 3.7% 0.0% 27.0 65.0 0.0% 0.0% 23.5 0.0% 120.0 130 0.0% 0.0% 39.0 0.0% 19.5 0.0% 20.0 0.0% 260 0.0% 16.5 0.0% 0.0% 490 0.0% 39.0 4.6% 1,540 0.0% % 77 0.0% 3.8% 160 9.3% 270 - 5.1% 0.0% 74.0 0.0% 0.0% 2786 0.0% 9 2% 340 0.0% 9.2% 73 3.3% 300 0.0% 53 5.4% 61 - 0.0% 47 212 10.8% 0.0% 69 270 0.0% 0.0% - 290 0.0% 9.4% 128.077 0.0% 13.0% 59 2.4% 0.0% 50.0 6.2% 0.0% 325 0.0% 610 4.5% 375 5.2% 2.7% 500 480 9.1% 0.0% 114 244 0.0% 2.7% 110 106 0.0% 0.0% 43.0 226 0.0% 2.2% 85 4.7% 6.3% 138 0.0% 49 0.0% 120 0.0% 0.0% 100 11.8% 126 0.0% 202 190 10.0% 0.0% 37.5 4.5% 112 0.0% 224 136 4.5% 0.0% 0.0% 130 1,500 4.5% 6.1% 85 400 1.3% 0.0% 31.5 4.0% 540 6.5% 118 4.0% 0.0% 98 87090 0.0% 5.6% 7690 0.0% 9.8% 12.0 102 0.0% 0.0% 37.063 0.0% 0.0% 0.0% 79 110 8.1% 0.0% 65 126 5.7% 0.0% 54 140 0.0% 0.0% 91 236 9.2% 0.0% 40.5 330 0.0% 7.7% 60 0.0% 14.5 0.0% 0.0% 9472 5.5% - 45 0.0% 5.2% 33.5 192.0 0.0% 0.0% 57 0.0% 3.8% 74 0.0% - 0.0% 126 0.0% 28.5 - 0.0% 0.0% 25.0 0.0% 0.0% 25.5 0.0% 255 3.2% 28.0 0.0% 0.0% 16.0 0.0% 0.0% 43 3.7% 130 280 0.0% 2.5% 32 62 0.0% 0.0% 0.0% 57 - 0.0% 0.0% 0.0% 295 1,920 1.1% 0.0%

48.5

232 92.0 130 70 465 -70 1,440 340 216 720 DTD 190 0.14% 108 0.14% -

0.85%

0.0%

0.0% 0.0% 0.0% 0.0% 2.2% 7.7% 3.3% 0.8% 4.6% 3.0% 4.68% 2.4% 13.9% 5.6% 0.0% 4.3%

42 40 990 1,100 174 170 280 280 305 295 420 340 13.5 12.5 5452 5241 25.0 25.0 900 840 130 130 75.0 45.0 36.0 31.0 110 110 230 230 295 345 102 102 134 110 116 108 108 130 5097 5084 44.0 44.0 530 530 52 52 1,920 2,040 74 74 95 110 28.5 28.5 11268 10863 230 238 51 49 340 395 23 22 260 305 71 71 260 260 31.5 31.0 260 260 48.5 48.5 132 68.0 68.054 14.0 23.5 20.5 20.5 270 26.0 26.0 280 24476 24461 94 9490 104 51 51 154 154 36 3691 110 51 51 520 620 26.5 27.5 30.0 74.0 75 75 16.0 24.5 99.0 120.0 120 140 19.5 41.5 19.5 12.0 19.0 19.0 255 198 17.0 16.5 490 425 39.0 38.0 1,580 1,500 29.0 29.0 89 15674 162 25586 25591 73.0 57.0 114 114 104 2680 28 335 270 68 68 280 315 53 55 130 130 60 60 47 47 172 212 64 64 265 305 42.5 42.5 300 265 132.081 128.070 76.32 60 75.90 51

17.46 88.93 12.13 13.65 1.33 0.00 13.17

23.89 0.00 16.70 0.00 20.76 0.00 53.09 0.00 12.95 0.00 0.00 0.00

11.89 7.13 9.22 0.00 11.97 9.19 332.29 32.31 13.80 0.00 12.48 0.00 116.80 9.60 0.00 0.00 14.91

5.99

0.00

0.00 71.64 106.89 16.62 0.00 3.14 8.28 7.35 22.77 11.92

9.59

60 55 60.55 43.00

5.01 7.80 7.00 22.89 0.00 16.17

5.19 10.01

44.0 48.5 325 325 640 640 560 560 345 390 520 485 410 480 118 110 270 242 220 220 134 114 104 114 40.5 40.5 246 218 44.80 92 43.43 80

3.36 16.97 25.05 12.90 12.06 9.91 8.56 17.37 16.90 296.83

116 156 49 48 110 110 100 99 769.58 744.62 120 128 200 208 182 222 37.5 37.590 112 234 224 126 126 130 120 1,420 1,500 82 82 340 390 30.5 30.0 500 570 108 108 362.92 345.74 100 96 86095 84044 76 7355 108 12.566 11.543 38.0 38.0 114 46 78 77 126 118 75 65 132 132 54 55 232 188 90 90 330 250 38.0 38.0 455 455 63 59 74.0 40.5 14.5 14.0 91 91 17.5 17.5 31.0 31.0 59 59 47.16 40.74 78 70 1,220 1,220 48.5 48.5 144 124 29.0 28.0 24.5 23.5 26.0 25.5 28.5 27.0 16.5 15.5 134 134 32 32 220 220 57 60 295 270 49.8649.73-

12.14 37.20 12.83 12.20 22.21 17.83

-

-

232 260 130 128 470 450 158 150 1,460 1,420 340 335 212 222 710 740 MTD 180 0.57% 180 104 116 -1.21% 460 460

-0.53%

11.59 5.91 5.75 12.60

16.20

5.54 11.40 25.40 9.28 15.28 11.12 39.65 5.29

21.70 0.00 14.56

9.92

26.32

35.93 7.39 8.10 47.94 4.15 10.28

19.44 77.01

10.79

11.37 0.00 5.38 27.28

20.67 9.93 23.07

9.61

18.82 63.06 0.00 11.03 0.00 16.27

14.44

70.58 18.38

10.34 6.49 8.02 14.53 193.84 96.15 YTD 10.91 0.11% 23.15 -1.69% 26.77

-0.53%

STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY WEDNESDAY, FEBRUARY 29, 2012

April 21, 2009 ############## Rebased RebasedPerformance Performance 113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

3% 6%

3% 6% Dubai

113

4%

2%

2%

110

1%

Oman

0%

GCC Best Performers

Saudi

95 28-Nov-11 85

28-Dec-11

28-Jan-12

MENA Best Performers

-3%

28-Feb-12

Close

-6% -2

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

1

4 CBDCommercial Bank of Dubai

Period's Liquidity 1 Ratio (PLR x)*

-1

ITHGalfar Ithmaar Bank GEC Engineering & Contracting

MENA Indices Highlights

AED 3.50 SAR 5.60

9.4% 9.8%

USD 0.090 OMR 0.703

5.9% 8.8%

KWD 0.110 QAR 6.35

5.8% 8.6%

AREAREF Energy Holding Co. KCB Al Khaliji Commercial Bank DFMDubai Financial Market

Country (Index) Sa Saudi Arabia (Tadawul All Share Index) Country (Index) Ku Kuwait (KSE Weighted Index) UASa UAE (ADX Index) Saudi Arabia (Tadawul All Share Index) UAE (DFM(KSE Index) Ku Kuwait Weighted Index)

Index Level

Index 7,163 Level

% Chg.

52 Wk High

YTD

Trailing 12.78

1.95

101,109

PE 13.89

PB1.49

MENA Worst Performers

68,544 264,263

8.84 10.24

1.09 1.77

NBFNational Bank of Fujairah

0.80 1.52

NR National Real Estate Co.

409

0.2%

0.9%

2,593 5,250

0.7% -4.0%

7.9% 9.3%

2,775 10,090

2,293 4,130

54 2,183

467

396

186

2.7% 1.8%

25.5% -0.2%

1,682 787

1,301 316

205 718

35,560 98,547

9.89 9.99

-0.7% 0.6%

-0.9% 12.8%

8,892 5,148

7,489 2,137

85 122

123,445 69,783

11.59 7.29

OmOman UAE(MSM (DFMIndex) Index)

5,810 1,745

1.1% 1.9%

2.0% 6.6%

6,416 5,860

5,419 1,433

26 305

18,246 37,413

10.87 6.87

BaQa Bahrain Qatar (BSE (DSMIndex) Index)

1,140 5,590

-0.5% 3.9%

-0.3% -18.8%

1,433 12,627

1,129 4,230

1 196

17,079 65,352

8.88 8.85

Eg Egypt (EGX 30 Index)

5,219

0.0%

44.1%

5,628

3,587

109

61,244

10.71

Jo Jordan (Amman General Index)

1,953

-0.1%

-2.0%

2,264

1,921

11

26,352

13.41

11,360

0.2%

2.2%

12,840

10,785

62,998

15.57

1,193

-0.6%

1.4%

1,425

1,164

481

0.1%

0.9%

513

465

4,725

-0.2%

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

1,681 463

2,825

10,621

0.4% -

2.2% -

0.7%

12,109

-6.8%

2,903

8.5%

8.0%

Mkt.375,265 Cap. USD million

8,697 2,695

Eg Egypt (Hermes Egypt Index (HFI))*

OMR 0.720

Turnover 2,677 USD million

1,698 406

M Morocco (Casa All Shares Index)

BKMBankMuscat

525,323 Wk Low

11.6% YTD

5.1%

8.0%

52 Wk 7,150 High

0.2% % Chg.

5,478

QAR 21.60

Mkt. Cap. USD million

Trailing

1,033

2.4%

5,044

4,224

46

1,572

4

328

-

2,551

14,635 4,758

4,059

9,406

-

1,094

-

-7.2%

2,119

1,043

Pa Palestine (Al-Quds Index) * Market Closed

546

0.9%

23.6%

739

407

Tu TunisiaClosed (Tunis SE Index)* * Market

3,282

-

13.6%

3,418

2,837

1

-2.9% -8.9%

KWD 0.410 SAR 48.00

-2.4% -8.6%

-6.8%

8.07

1.29

101 Riyad Bank

SAR 24.70

-6.4%

7.67

1.56

33,782

12.71

2.15

59,990

18.36

3.95

8,507

6.47

0.86

2,079

8.67

2.50

201 Industries Corp. (KSA) 235Saudi SaudiBasic Kayan Petrochemical Co. (KSA)

343,553,085 91,105,490

6,576

13.85

1.92

115 430Alinma Dar AlBank Arkan(KSA) Real Estate Dev. Co. (KSA)

119,955,261 76,103,797

1.56 3.77

6.33

0.87

9.42

9,624

-

0.87 201 AGSaudi AgilityBasic Industries Corp.

1.74

KWD 0.330 SAR 22.95

SAR 13.70

2,529

2

KWD 1.440 -13.1% -4.0% KWD 0.265

225 Saudi Industrial Inv. Grp.

10,302

2

-9.9%

KWD 0.136% Chg. -4.2% Close

1.89 FAC FOO Kuwait Food Co. 1.37 Commercial Facilities Co. 1.62 KPR Kuwait Projects Co. (Holding) 0.88 238 Rabigh Petrochem.

1.40

% Chg.

AED 4.10

1.68

63,640

4

Close

9.50

18,727

1

67

-3.3%

-0.7%

15,024

GCC Worst Performers

PB

4.6%

QGTQatar Gas Transport Co.

Turnover USD million

QaUAUAE Qatar (DSM Index) (ADSM Index)

OmOman (MSM Index)

AED 1.00

52 Wk Low

PE

% Chg.

AED 3.40% Chg. 13.3% Close

ART Arabtec Hldg.

Holding 3 428 Kingdom Co.

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

Abu Dhabi Abu Dhabi

-1%

-6%

Palestine

Qatar

90

-4%

Bahrain

Dubai

95

Bahrain

0%

-2% 0%

Kuwait

Palestine

0%

100

Saudi

Abu Dhabi

Saudi Dubai

105

Kuwait

Qatar Saudi

Return DailyDaily Return (%)(%)

Dubai Abu Dhabi

Oman Qatar

105

Kuwait Oman

110

Qatar

Jordan Kuwait

111

Jordan Egypt

110

100

Oman

110

Bahrain Bahrain

115115

Bull/Bear Indicator Bull/Bear Indicator

14.59

GCC Highest Turnover

Turnover (USD)

MENA Highest Turnover

1.18

115 Alinma Bank (KSA)

1.66

201 Saudi Basic Industries Corp. (KSA)

210,475,046 207,587,569

Turnover (USD)

159,072,410

703 Zain - Saudi Arabia (KSA)

NBKNational Bank of Kuwait (KUW)

97,126,838

SAUDI ARABIA *Market Closed

KFI Kuwait Finance House (KUW)

88,742,222

Rebased Performance

EMAEmaar Properties (UAE) Best Performers

64,280,166

Summary

7,163 (0.2%)

Tadawul Index (% Chg.)

120

% of stocks trading above 1yr avg. price 117

2.00

Advance/Decline Ratio

115

10,041,738

Turnover (SAR '000)

1,407,433,235

Market Cap. (SAR '000)

110

1150.SSE Alinma Bank

7,150 / 5,323 7030.SSE Zain - Saudi Arabia

Tadawul Index 52 week High / Low

110

Close

92% 7020.SSE Etihad Etisalat Co.

70Zain - Saudi Arabia 28-Dec-11

28-Jan-12

S&P GCC Large/Mid Composite

28-Feb-12

2.7% 1.9%

3020.SSE Yamama Saudi Cement Co.

56.50

1.8%

1060.SSE SABB

45.50

1.6%

Turnover (SAR) 789,386,660 4220.SSE Emaar the Economic City 778,557,177 1211.SSE Saudi Arabian Mining Co. 596,601,075 1140.SSE Bank AlBilad

20Saudi Basic Industries Corp.

95 28-Nov-11

4.1%

11.45

Worst Performers

1 Alinma Bank

100

63.00 7.95

Highest Turnover

105

% Chg.

Close

23Saudi Kayan Petrochemical Co.

341,691,142

4300.SSE Dar Al Arkan Real Estate Dev. Co.

43Dar Al Arkan Real Estate Dev. Co.

285,427,289

5110.SSE Saudi Electricity Co.

% Chg.

9.40

-1.6%

31.00

-1.3%

26.40

-1.1%

9.35

-1.1%

14.15

-1.1%

Saudi SE

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (SAR '000)

Volume ('000)

52-Week High

% Change

Low

on high

YTD

12 mths

Market Cap. (SAR '000)

Trailing PE

PB

1 Al Rajhi Bank

78.50

0.6%

79.50

77.50

195,581

2,492

78.00

65.75

0.6%

13.0%

6.8%

117,750,000

16.0

3.6

1 Alinma Bank

11.45

2.7%

11.60

11.15

789,387

69,176

11.15

8.85

2.7%

22.5%

15.1%

17,175,000

39.8

1.1

241

103.50

83.75

-1.2%

3.3%

9.9%

23,517,500

20.6

3.5

104

35.18

26.31

-9.6%

15.6%

4.7%

27,030,000

12.4

1.6 2.3

102.25

0.3%

103.75

101.50

24,711

1 Arab National Bank

31.80

0.3%

32.00

31.20

3,309

2 Almarai Co. 1 Bank AlBilad

26.40

-1.1%

27.10

25.50

19,153

719

27.20

16.55

-2.9%

33.0%

44.3%

7,920,000

24.2

1 Bank Al Jazira

24.00

0.4%

24.40

22.70

30,186

1,255

23.90

14.95

0.4%

41.6%

48.6%

7,200,000

nmf

1.6

1 Banque Saudi Fransi

46.20

1.5%

47.80

45.50

17,464

372

50.00

35.60

-7.6%

9.7%

13.2%

33,412,501

11.5

1.7

4 Dar Al Arkan Real Estate Dev. Co.

9.35

-1.1%

9.60

9.10

285,427

30,302

9.70

6.05

-3.6%

29.0%

6.9%

10,098,000

9.3

0.7

4 Emaar the Economic City

9.40

-1.6%

9.75

9.20

196,025

20,541

9.60

5.65

-2.1%

27.9%

45.7%

7,990,000

nmf

1.1

7 Etihad Etisalat Co.

63.00

4.1%

63.25

61.00

148,122

2,375

60.50

43.00

4.1%

20.0%

36.1%

44,100,000

8.7

2.4

4 Jabal Omar Development Co.

16.05

0.0%

16.55

15.65

154,772

9,578

16.05

11.10

0.0%

32.1%

17.8%

14,916,870

nmf

1.6 9.3

141.00

0.7%

141.25

139.50

15,800

113

146.67

81.33

-3.9%

1.3%

59.3%

8,460,000

16.5

4 Kingdom Holding Co.

10.90

-0.5%

11.35

10.70

57,486

5,186

11.40

6.95

-4.4%

23.2%

38.9%

40,394,117

nmf

1.6

2 National Industrialization Co.

42.70

-0.5%

43.40

42.40

39,898

927

45.10

26.36

-5.3%

4.9%

49.6%

23,802,196

9.7

2.2

4 Jarir Marketing Co.

2 Rabigh Refining & Petrochemical Co.

24.15

0.2%

24.50

23.80

99,552

4,109

29.80

18.30

-19.0%

3.9%

7.3%

21,155,400

nmf

2.6

1 Riyad Bank

25.80

-0.8%

26.20

25.70

47,948

1,849

26.50

21.10

-2.6%

10.7%

7.3%

38,700,000

12.3

1.3

1 Samba Financial Grp. 2 Saudi Arabian Fertilizer Co. 1 Saudi Arabian Mining Co.

51.25

-1.0%

53.00

51.00

26,788

515

56.75

42.40

-9.7%

10.0%

0.5%

46,125,000

10.7

1.6

181.50

0.8%

182.00

180.00

48,888

270

192.75

149.00

-5.8%

3.1%

8.5%

45,375,000

11.0

5.5

31.00

-1.3%

31.60

30.50

54,222

1,733

31.40

19.95

-1.3%

22.5%

40.9%

28,675,000

nmf

1.7

100.75

0.3%

103.00

100.25

778,557

7,673

112.50

85.25

-10.4%

4.7%

8.0%

302,250,000

10.3

2.2

3 Saudi Cement Co.

89.00

0.3%

90.00

88.25

11,060

124

88.75

47.80

0.3%

23.6%

76.2%

13,617,000

16.4

4.1

5 Saudi Electricity Co.

14.15

-1.1%

14.45

14.00

250,208

17,569

14.75

12.40

-4.1%

1.8%

6.4%

58,957,302

26.5

1.1

1 Saudi Hollandi Bank

31.80

0.3%

32.80

31.80

21,046

652

31.70

25.70

0.3%

6.7%

14.0%

10,517,850

10.4

1.4

22 Saudi Industrial Investment Grp.

22.15

0.2%

22.65

21.90

92,122

4,123

27.20

16.15

-18.6%

16.6%

16.3%

9,967,500

18.9

1.7

2 Saudi Basic Industries Corp.

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

22.15

0.2%

22.60

21.55

101,935

4,579

23.20

16.55

-4.5%

12.4%

15.8%

8,121,667

11.5

1.4

19.00

0.5%

19.40

18.70

18,457

965

24.60

15.55

-22.8%

17.6%

-11.6%

10,450,000

14.8

1.2

16.60

0.3%

16.85

16.40

341,691

20,478

19.15

14.55

-13.3%

-4.6%

-0.9%

24,900,000

nmf

1.6

37.90

-0.5%

38.60

37.40

67,773

1,774

39.30

33.00

-3.6%

12.1%

2.2%

75,800,000

9.9

1.6

32.90

0.6%

32.90

32.60

16,567

506

32.70

21.65

0.6%

14.6%

28.0%

16,450,000

13.7

2.1

96.00

-0.5%

96.00

94.00

4,061

42

96.50

58.00

-0.5%

11.6%

62.7%

13,440,000

15.0

5.1

45.50

1.6%

46.10

44.60

27,212

600

46.50

33.90

-2.2%

11.8%

21.0%

34,125,000

11.8

2.0

3 Yamama Saudi Cement Co.

56.50

1.8%

57.00

55.50

29,191

518

83.25

44.10

-32.1%

-19.3%

17.7%

11,441,250

15.6

3.4

2 Yanbu National Petrochemicals Co.

49.40

1.4%

50.25

48.70

131,991

2,662

53.25

38.50

-7.2%

12.3%

19.0%

27,787,500

8.8

2.6

7.95

1.9%

8.15

7.55

596,601

75,306

7.80

5.25

1.9%

43.2%

27.2%

11,130,000

nmf

2.6

7 Zain - Saudi Arabia

STOCKS WITH NBK CAPITAL

ALWATAN DAILY

13

WEDNESDAY, FEBRUARY 29, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,089 (0.0%)

KSE General Index (% Chg.)

115

409 (0.2%)

KSE Weighted Index (% Chg.)

51%

% of stocks trading above 1yr avg. price 110

KSE General Index 52 week High / Low

0.236

4.4%

0.600

3.5%

0.116

1.8%

1.420

1.4%

51,684

Turnover (KWD '000)

28,047,636

Market Cap. (KWD '000)

105

5.8%

NIND.KSE National Industries Grp. Holding

467 / 396 CABLE.KSEGulf Cable and Electrical Industries Co.

KSE Weighted Index 52 week High / Low

Highest Turnover

Worst Performers

101 100

Turnover (KWD) 2,821,080

N National Industries Grp. Holding

95 28-Nov-11

28-Dec-11

28-Jan-12

28-Feb-12

S&P GCC Large/Mid Composite

% Chg.

0.110

0.83 BPCC.KSE Boubyan Petrochemical Co. 6,523 / 5,694 IFC.KSE International Finance Co.

Advance/Decline Ratio 110

Close AREFENRGAREF Energy Holding Co.

Close NRE.KSE

National Real Estate Co.

% Chg.

0.136

-4.2% -4.0%

ZA Zain Kuwait

2,698,550

FOOD.KSE Kuwait Food Co.

1.440

A Agility

2,125,100

KPROJ.KSEKuwait Projects Co. (Holding)

0.330

-2.9%

N National Bank of Kuwait

1,701,950

AGLTY.KSEAgility

0.410

-2.4%

IFInternational Finance Co.

1,594,120

PCEM.KSE Kuwait Portland Cement Co.

0.900

-2.2%

KSE Weighted Index

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (KWD '000)

52-Week

Volume ('000)

High

% Change

Low

on high

YTD

12 mths

Trailing

Market Cap. (KWD '000)

PE

PB

A Agility

0.410

-2.4%

0.420

0.400

2,125

5,190

0.435

0.248

-5.7%

9.3%

10.8%

429,203

nmf

0.5

A Al Ahli Bank of Kuwait

0.640

-1.5%

0.640

0.640

13

20

0.690

0.610

-7.2%

-3.0%

-4.5%

922,355

18.3

1.9

T Al Themar Intl. Holding Co.

0.087

-

-

-

0.104

0.079

-16.3%

-4.4%

-17.9%

88,088

34.2

1.0

A Alafco Aviation Lease and Fin. Co.

0.300

0.0%

0.300

0.295

12

40

0.380

0.280

-21.1%

-4.8%

-20.0%

233,931

5.9

1.5

A AREF Energy Holding Co.

0.110

5.8%

0.110

0.102

108

1,000

0.142

0.085

-22.5%

3.8%

-1.8%

82,500

nmf

1.2

B Boubyan Bank

0.560

-1.8%

0.570

0.560

62

110

0.620

0.560

-9.7%

-5.1%

-6.7%

979,012

nmf

4.2

B Boubyan Petrochemical Co.

0.600

3.5%

0.600

0.580

1,030

1,745

0.620

0.480

-3.2%

7.1%

13.2%

291,060

11.8

1.2

B Burgan Bank

0.450

0.0%

0.450

0.450

185

410

0.550

0.410

-18.2%

-5.3%

-3.6%

662,129

13.1

1.5

A Burgan Co. for Well Drilling

0.255

-

-

-

-

-

0.420

0.198

-39.3%

20.3%

-45.7%

53,454

26.2

1.0

C Combined Grp Contracting Co.

1.520

-1.3%

1.520

1.520

1.945

1.300

-21.9%

-3.8%

-24.0%

146,879

18.4

4.0

C Commercial Bank of Kuwait

0.720

-

-

-

-

0.960

0.710

-25.0%

-8.9%

-22.6%

915,856

nmf

1.7

F Commercial Facilities Co.

0.255

-1.9%

0.255

0.255

28

110

0.395

0.255

-35.4%

-1.9%

-33.8%

136,875

12.5

0.9

G Global Investment House

0.049

-

G Gulf Bank

0.475

-2.1%

-

-

68

45

-

-

-

-

-

0.055

0.019

-10.9%

0.0%

0.0%

64,309

nmf

3.1

0.480

0.475

417

870

0.580

0.450

-18.1%

-6.9%

-5.0%

1,191,159

38.9

2.8 1.7

C Gulf Cable and Electrical Industries Co.

1.420

1.4%

1.420

1.420

7

5

1.700

1.380

-16.5%

0.0%

-12.3%

298,102

8.2

IF IFA Hotels & Resorts

0.490

1.0%

0.490

0.490

5

10

0.500

0.285

-2.0%

3.2%

-3.9%

222,402

nmf

4.6

IK Ikarus Petroleum Industries Co.

0.176

0.0%

0.178

0.176

149

840

0.180

0.132

-2.2%

3.5%

20.5%

132,000

13.7

0.9

IF International Finance Co.

0.116

1.8%

0.120

0.114

1,594

13,720

0.285

0.096

-59.3%

13.7%

-54.5%

93,134

nmf

0.8

JAJazeera Airways

0.480

0.0%

0.480

0.465

169

360

0.480

0.112

0.0%

5.5%

293.4%

105,600

9.3

4.3

K KIPCO Asset Management Co.

0.244

-

-

-

-

-

0.315

0.236

-22.5%

0.0%

-22.5%

64,246

nmf

0.8

-

-

0.830

0.810

-

-

0.630

0.420

-31.7%

-6.5%

-31.6%

274,192

19.9

2.0

513

625

1.100

0.820

-24.5%

-7.8%

-22.7%

2,231,904

28.1

1.9

K Kuwait Cement Co.

0.430

-

K Kuwait Finance House

0.830

1.2%

F Kuwait Food Co.

1.440

-4.0%

1.440

1.440

7

5

1.620

1.320

-11.1%

-2.7%

-2.7%

578,883

12.1

2.0

K Kuwait International Bank

0.250

0.0%

0.255

0.248

661

2,650

0.350

0.236

-28.6%

-2.0%

-19.4%

259,332

22.0

1.3

P Kuwait Portland Cement Co.

0.900

-2.2%

0.910

0.900

140

155

1.580

0.660

-43.0%

26.8%

-45.0%

81,814

13.9

1.3

K Kuwait Projects Co. (Holding)

0.330

-2.9%

0.340

0.330

205

610

0.425

0.295

-22.4%

8.2%

-11.1%

420,066

11.2

0.8

M Mabanee Co.

0.870

0.0%

0.870

0.870

122

140

0.900

0.555

-3.3%

1.2%

38.8%

483,395

24.7

3.4

M Mena Holding

0.033

-

N National Bank of Kuwait

1.180

0.0%

-

-

-

-

0.060

0.033

-45.0%

0.0%

-49.2%

21,780

2.3

0.1

1.180

1.160

1,702

1,443

1.260

1.000

-6.3%

5.4%

-7.3%

4,670,116

15.4

2.2 1.3

N National Industries Co.

0.295

-

-

-

-

-

0.355

0.260

-16.9%

5.4%

-22.4%

102,112

35.6

N National Industries Grp. Holding

0.236

4.4%

0.236

0.226

2,821

12,160

0.285

0.192

-17.2%

-9.2%

-18.6%

305,644

nmf

0.8

N National Investments Company

0.170

1.2%

0.172

0.168

254

1,500

0.325

0.158

-47.7%

-1.2%

-51.4%

148,956

nmf

0.8

N National Real Estate Co.

0.136

-4.2%

0.142

0.134

214

1,560

0.168

0.056

-19.0%

6.3%

17.2%

-

nmf

0.5

70

0.360

0.265

-25.0%

-10.0%

-10.0%

89,019

24.5

2.1

220

0.226

0.166

-5.3%

0.0%

21.6%

235,400

13.0

1.1

-

0.240

0.200

-12.5%

1.0%

-14.3%

107,672

20.8

0.8

2,040

0.146

0.093

-15.1%

3.3%

-17.3%

71,775

nmf

1.1

-

0.270

0.216

-14.8%

0.0%

-7.3%

85,818

17.3

0.8 0.6

O Oula Fuel Marketing Co.

0.270

-1.8%

0.275

0.270

19

A Qurain Petrochemicals Industries Co.

0.214

0.9%

0.214

0.212

47

S Salhia Real Estate Co.

0.210

-

-

-

S Sultan Center Food Products Co.

0.124

-1.6%

0.128

0.120

T Tamdeen Real Estate Co.

0.230

-

-

-

A The Commercial Real Estate Co.

0.082

0.0%

0.082

0.081

10,400

0.083

0.062

-1.2%

6.5%

20.6%

150,455

17.5

S The Securities House

0.130

-

-

-

-

-

-

-

0.0%

0.0%

0.0%

88,400

nmf

7.0

N Wataniya

2.000

-

-

-

-

-

2.060

1.580

-2.9%

3.1%

13.6%

1,008,066

2.9

1.3

Z Zain Kuwait

0.860

1.2%

0.860

0.850

2,699

3,160

1.420

0.840

-39.4%

-4.4%

-37.7%

3,704,480

13.0

1.8

252 853

UAE Rebased Performance

Summary

125 121

120

Best Performers

DFM Index (% Chg.)

1,698 (2.7%)

ADSM Index (% Chg.)

2,593 (0.7%)

13.3%

3.50

9.4%

1.00

4.6%

DFM Index 52 week High / Low

73% ARTC.DFM Arabtec Holding 7.33 DFM.DFM Dubai Financial Market 1,682 / 1,301 TAMWEEL Tamweel

1.00

4.5%

ADSM Index 52 week High / Low

2,775 / 2,293 SOROUH.A Sorouh Real Estate Co.

1.17

4.5%

Advance/Decline Ratio

956,814

Turnover (AED '000)

110

110

Commercial Bank of Dubai

% Chg.

3.40

% of stocks trading above 1yr avg. price

115

Close CBD.DFM

411,996,508

Market Cap. (AED '000) 106

105

Highest Turnover

Worst Performers

100

Turnover (AED) 177,247,306 NBF.ADSM National Bank of Fujairah 119,376,777 DIB.DFM Dubai Islamic Bank 42,357,671 ETISALAT.AEtisalat

E Emaar Properties 95

A Arabtec Holding A ALDAR Properties

90 28-Nov-11

28-Dec-11 S&P GCC Large/Mid Composite

28-Jan-12

28-Feb-12

Abu Dhabi SE

Close

% Chg.

4.10

-9.9%

2.20

-1.8%

9.51

-0.1%

D Dubai Financial Market

42,077,420

DANA.ADS Dana Gas

0.50

0.0%

D Deyaar Development Co.

33,674,043

ARMX.DFM Aramex

1.90

0.5%

Dubai FM

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (AED '000)

52-Week

Volume ('000)

High

% Change

Low

on high

YTD

12 mths

Trailing

Market Cap. (AED '000)

PE

PB

A Abu Dhabi Commercial Bank

3.19

0.6%

3.21

3.16

10,131

3,178

3.30

2.15

-3.3%

14.7%

39.3%

17,849,956

5.9

A Abu Dhabi Islamic Bank

3.55

1.1%

3.56

3.53

1,031

290

3.55

2.92

0.0%

12.3%

18.3%

8,394,706

8.0

1.3

T Abu Dhabi National Energy Co.

1.27

1.6%

1.29

1.24

890

703

1.63

1.14

-22.1%

5.8%

-9.3%

7,905,750

5.1

1.1

A Abu Dhabi National Hotels

2.05

-

-

-

2.95

2.03

-30.5%

-6.8%

-30.7%

2,050,000

12.4

0.3

A Air Arabia

0.75

1.5%

0.76

0.74

17,425

23,118

0.84

0.57

-10.5%

27.8%

-5.9%

3,495,358

13.0

0.7

A ALDAR Properties

1.17

3.5%

1.18

1.12

42,358

36,227

1.68

0.76

-30.4%

27.2%

-15.2%

4,779,601

7.4

0.7

A Amlak Finance

1.02

-

A Arabtec Holding

3.50

9.4%

-

3.60

-

-

-

-

3.17

119,377

-

34,861

3.20

0.93

0.8

0.0%

0.0%

0.0%

1,530,000

nmf

1.1

9.4%

120.1%

236.5%

5,232,500

37.9

1.9 1.5

A Aramex

1.90

0.5%

1.90

1.84

2,210

1,181

1.96

1.55

-3.1%

5.6%

22.6%

2,781,790

13.3

A Arkan Building Materials Co.

1.11

1.8%

1.14

1.08

1,543

1,387

1.77

0.71

-37.3%

9.9%

-5.1%

1,942,500

nmf

1.2

C Commercial Bank of Dubai

3.40

13.3%

3.40

3.00

42

14

3.45

2.90

-1.4%

17.2%

13.3%

6,600,378

8.0

1.0

D Dana Gas

0.50

0.0%

0.51

0.50

5,766

11,513

0.71

0.34

-29.6%

11.1%

-15.3%

3,301,001

7.9

0.4

D Deyaar Development Co.

0.44

1.4%

0.45

0.43

33,674

75,872

0.45

0.20

-2.0%

104.7%

83.2%

2,519,208

nmf

0.6

D du

3.00

1.7%

3.00

2.93

28,591

9,700

3.30

2.80

-9.1%

3.8%

4.2%

13,714,286

8.7

2.4

D Dubai Financial Market

1.00

4.6%

1.00

0.94

42,077

42,750

1.46

0.68

-31.6%

18.9%

-17.4%

7,992,000

nmf

1.1

D Dubai Islamic Bank

2.20

-1.8%

2.26

2.19

25,576

11,523

2.31

1.88

-4.8%

13.4%

5.3%

8,353,519

5.8

0.9

E Emaar Properties

3.17

2.9%

3.20

3.10

177,247

56,112

3.49

2.41

-9.2%

23.3%

18.7%

19,309,226

10.8

0.6

E Emirates NBD

3.35

3.7%

3.35

3.15

4,828

1,471

4.63

2.65

-27.6%

13.9%

9.8%

18,618,545

7.4

0.5

9.51

-0.1%

9.55

9.47

13,956

1,467

11.40

8.64

-16.6%

4.2%

-12.8%

75,187,391

12.9

1.9

20.00

2.6%

20.15

19.80

30,324

1,516

20.00

13.95

0.0%

29.5%

26.2%

30,000,000

8.1

1.1

1.28

1.6%

1.38

1.26

32

25

1.56

0.67

-17.9%

80.3%

-5.2%

1,051,004

nmf

0.8

M Mashreq

91.45

-

102.00

74.70

-10.3%

-9.9%

22.4%

18.8

1.3

N National Bank of Abu Dhabi

1.2

E Etisalat

F First Gulf Bank G Gulf Cement Co.

-

-

-

-

-

11.15

1.4%

11.20

11.00

3,664

329

11.90

9.29

-6.3%

1.8%

20.0%

32,000,982

8.6

N National Bank of Fujairah

4.10

-9.9%

4.10

4.10

0

0

4.70

2.91

-12.8%

-9.9%

-5.7%

4,510,000

16.1

2.2

N National Bank of Umm Al Qaiwain

1.81

-

2.39

1.63

-24.3%

0.0%

-16.8%

2,896,000

9.0

0.9

S Sharjah Islamic Bank

0.99

1.0%

1.00

0.95

935

943

0.99

0.80

0.0%

17.9%

10.0%

2,401,245

8.6

0.5

S Sorouh Real Estate Co.

1.17

4.5%

1.19

1.13

31,867

27,299

1.54

0.67

-24.0%

37.6%

13.6%

3,071,250

9.2

0.5

T Tamweel

1.00

4.5%

1.00

0.96

15,313

15,598

1.01

0.53

-1.4%

65.2%

0.6%

996,000

9.8

0.4

U Union National Bank

3.17

1.3%

3.19

3.10

1,596

504

3.90

2.82

-18.7%

9.7%

7.3%

7,911,131

5.1

0.7

U Union Properties

0.44

3.1%

0.45

0.42

9,192

20,930

0.45

0.24

-3.1%

69.4%

55.0%

1,471,317

nmf

0.6

U United Arab Bank

3.50

-

-

-

5.30

3.28

-34.0%

-3.8%

-38.1%

3,487,404

10.6

1.7

* Closing Prices, Turnover and Market Cap. in USD

-

-

-

-

-

-

STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY WEDNESDAY, FEBRUARY 29, 2012

QATAR Rebased Performance

Summary

Best Performers 8,697 (-0.7%)

DSM Index (% Chg.)

115

1.8%

30.15

1.2%

17.24

0.9%

Turnover (QAR '000)

8,892 / 7,489 KCBK.DSMAl Khalij Commercial Bank 309,816 AHCS.DSMAamal Co.

15.60

0.6%

Market Cap. (QAR '000)

449,489,508

55.60

0.4%

DSM 52 week High / Low

110

% Chg.

17.49

Advance/Decline Ratio 110

Close

56% QGTS.DSMQatar Gas Transport Co. 1.14 BRES.DSMBarwa Real Estate Co.

% of stocks trading above 1yr avg. price

QIIK.DSM Qatar International Islamic Bank

105

Highest Turnover

102 100

Worst Performers Turnover (QAR) 59,630,096 CBQK.DSMThe Commercial Bank of Qatar 54,700,697 IQCD.DSM Industries Qatar

IQIndustries Qatar Q Qatar National Bank

95 28-Nov-11

28-Dec-11

28-Jan-12

28-Feb-12

S&P GCC Large/Mid Composite

D Doha Bank

20,443,939

DHBK.DSMDoha Bank

C The Commercial Bank of Qatar

19,607,148

VFQS.DSM Vodafone Qatar

Q Qatar Gas Transport Co.

19,564,003

MARK.DSMMasraf Al Rayan

Close

% Chg.

75.60

-2.0%

139.00

-1.1%

65.40

-0.8%

7.32

-0.7%

26.65

-0.6%

Doha SM

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (QAR '000)

52-Week

Volume ('000)

High

% Change

Low

on high

YTD

12 mths

Market Cap. (QAR '000)

Trailing PE

PB

A Aamal Co.

15.60

0.6%

15.75

15.51

449

29

24.09

15.40

-35.2%

-1.9%

-12.4%

7,722,000

14.3

K Al Khalij Commercial Bank

17.24

0.9%

17.25

17.12

565

33

19.60

16.40

-12.0%

0.4%

-11.8%

6,206,400

12.7

1.1

B Barwa Real Estate Co.

30.15

1.2%

30.25

29.70

16,991

565

35.90

27.40

-16.0%

0.7%

7.3%

11,732,108

7.5

1.0

C The Commercial Bank of Qatar

75.60

-2.0%

77.50

75.60

19,607

257

85.50

64.50

-11.6%

-10.0%

7.4%

18,706,946

9.9

1.3

66.00

65.40

20,444

311

67.00

45.60

-2.4%

2.0%

26.3%

13,518,036

10.9

1.9

-

-

-

-

24.97

18.60

-23.0%

-13.4%

-16.9%

51,007,512

nmf

1.8 2.9

1.4

D Doha Bank

65.40

-0.8%

E Ezdan Real Estate Co.

19.23

-

139.00

-1.1%

141.20

138.80

59,630

427

148.50

117.00

-6.4%

4.5%

6.8%

76,450,000

9.6

26.65

-0.6%

26.70

26.50

10,206

384

28.10

19.74

-5.2%

-4.3%

22.2%

19,987,500

14.2

2.4

146.30

-0.5%

147.00

145.00

2,910

20

153.50

118.00

-4.7%

4.8%

21.9%

14,630,000

11.3

4.8

Q Qatar Gas Transport Co.

17.49

1.8%

17.59

17.18

19,564

1,125

19.58

16.42

-10.7%

-0.1%

-0.3%

9,686,732

12.3

7.9

Q Qatar International Islamic Bank

55.60

0.4%

55.60

55.00

10,177

184

56.20

43.90

-1.1%

3.0%

4.1%

8,416,102

12.9

1.7

Q Qatar Islamic Bank

77.60

-0.4%

78.00

77.50

5,171

66

85.30

75.60

-9.0%

-7.9%

-1.0%

18,336,352

13.4

1.6

408

141.73

107.81

-5.4%

-3.0%

23.7%

93,833,718

12.5

2.2

21

95.00

69.90

-22.1%

-3.3%

-22.1%

8,474,865

15.7

0.8

IQIndustries Qatar M Masraf Al Rayan Q Qatar Electricity & Water Co.

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

134.10

0.1%

134.50

133.80

54,701

74.00

0.1%

74.00

73.20

1,570

157.00

0.2%

157.00

155.60

2,616

17

164.50

118.33

-4.6%

11.5%

29.0%

27,632,000

11.4

1.3

7.32

-0.7%

7.34

7.30

884

121

8.12

7.24

-9.9%

-3.0%

-4.2%

6,188,328

nmf

0.9

OMAN Rebased Performance

Summary

Best Performers 5,810 (1.1%)

MSM Index (% Chg.)

115

42% RNSS.MSMRenaissance Services - NBOB.MSMNational Bank of Oman

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

6,416 / 5,419 BKMB.MSMBank Muscat 10,093 OCOI.MSM Oman Cement Co.

MSM 52 week High / Low

110

110

Close

Turnover (OMR '000)

7,024,604

Market Cap (OMR '000)

RCCI.MSM Raysut Cement Co.

% Chg.

0.63

4.3%

0.32

1.3%

0.73

0.7%

0.51

0.6%

0.86

0.6%

106 105

Highest Turnover 100

Worst Performers Turnover (OMR) 2,056,068 OTEL.MSMOman Telecommunications Co. 603,155 RCCI.MSM Raysut Cement Co.

B Bank Muscat R Renaissance Services

95 28-Nov-11

28-Dec-11

28-Jan-12

28-Feb-12

S&P GCC Large/Mid Composite

Close

% Chg.

1.40

0.2%

0.86

0.6%

O Oman Telecommunications Co.

445,475

OCOI.MSM Oman Cement Co.

0.51

0.6%

O Oman Cement Co.

139,108

BKMB.MSMBank Muscat

0.73

0.7%

NBOB.MSMNational Bank of Oman

0.32

1.3%

17,585

N National Bank of Oman

Muscat SM

Quotes Company Name

Close

B Bank Dhofar

Daily % Chg.

Turnover (OMR '000)

High

Low

-

-

-

0.7%

0.733

0.722

2,056

1.3%

0.320

0.317

18

0.508

0.6%

0.527

0.505

1.403

0.2%

1.408

1.400

0.863

0.6%

0.870

0.851

7

0.632

4.3%

0.644

0.618

603

0.539

-

B Bank Muscat

0.727

N National Bank of Oman

0.320

O Oman Cement Co. O Oman Telecommunications Co. R Raysut Cement Co. R Renaissance Services

52-Week

Volume ('000)

High

-

% Change

Low

on high

YTD

12 mths

Market Cap. (OMR '000)

0.680

0.509

-20.7%

-1.5%

-18.3%

493,313

2,834

0.781

0.658

-6.9%

-5.1%

5.7%

55

0.332

0.302

-3.6%

0.0%

5.3%

139

274

0.608

0.416

-16.4%

17.6%

445

318

1.407

1.041

-0.3%

7.2%

8

1.190

0.711

-27.5%

13.6%

955

1.197

0.458

-47.2%

16.0%

Trailing PE

PB

12.8

2.2

1,125,672

9.6

1.3

345,920

10.1

1.2

-7.1%

168,083

13.1

1.1

21.4%

1,052,250

9.4

2.1

-20.8%

172,600

12.9

1.7

-36.3%

178,284

13.2

1.0

BAHRAIN Rebased Performance

Summary

Best Performers 1,140 (-0.5%)

BSE Index (% Chg.)

115

Advance/Decline Ratio 110

1,433 / 1,129 BBK.BSE 195 AUB.BSE

BSE 52 week High / Low

110

Close

26% ITHMR.BSE Ithmaar Bank - BARKA.BS Albaraka Banking Grp.

% of stocks trading above 1 yr avg. price

Turnover (BHD '000)

6,438,734

Market Cap. (BHD '000)

#N/A

% Chg.

0.09

5.9%

1.06

1.9%

BBK

0.41

1.5%

Ahli United Bank

0.68

#N/A

0.0%

#N/A

#N/A

105

Highest Turnover 100

Worst Performers Turnover (BHD) 59,160 AUB.BSE 19,024 BBK.BSE

B BBK

99

A Ahli United Bank 95 28-Nov-11

28-Dec-11

28-Jan-12

28-Feb-12

S&P GCC Large/Mid Composite

Close

% Chg.

Ahli United Bank

0.68

BBK

0.41

1.5%

1.06

1.9% 5.9%

IT Ithmaar Bank

4,088

BARKA.BS Albaraka Banking Grp.

B Albaraka Banking Grp.

2,884

ITHMR.BSE Ithmaar Bank

0.09

N National Bank of Bahrain

1,150

ABC.BSE

0.42 -

Arab Banking Corp.

0.0%

Bahrain SE

Quotes Company Name A Ahli United Bank*

Close 0.680

Daily % Chg.

High

0.0%

0.680

Low

Turnover (BHD '000)

52-Week

Volume ('000)

0.680

50 8

High

74

Low

0.770

0.630

on high

YTD

-11.7%

2.3%

12 mths -5.6%

Market Cap. (BHD '000) 3,389,350

Trailing PE

PB

10.9

1.3

B Albaraka Banking Grp.*

1.060

1.9%

1.060

1.060

1.280

1.000

-17.2%

-2.8%

-16.7%

921,723

7.8

0.8

A Arab Banking Corp.*

0.420

-

-

-

-

-

0.570

0.420

-26.3%

0.0%

-26.3%

1,306,200

6.4

0.4

B Bahrain Islamic Bank

0.082

-

-

-

-

-

0.118

0.082

-30.5%

-8.9%

-28.1%

77,053

nmf

0.8

B Bahrain Telecommunications Co.

0.380

-

-

-

-

-

0.492

0.380

-22.8%

-3.1%

-19.5%

547,200

6.8

1.1

B BBK

0.410

1.5%

0.412

0.408

59

144

0.450

0.390

-8.9%

-1.0%

-8.9%

349,056

11.0

1.5

-

1,139

797

-30.0%

0.0%

-37.0%

637,560

4.5

0.6

120

0.115

0.065

-21.7%

38.5%

-21.7%

240,999

nmf

0.4

0.700

0.560

-17.9%

0.0%

-11.5%

491,832

10.8

1.8

0.424

0.270

-28.3%

1.3%

-30.9%

252,817

nmf

1.2

IN Investcorp Bank* IT Ithmaar Bank*

797

-

0.090

5.9%

N National Bank of Bahrain

0.575

0.0%

U United Gulf Bank

0.304

-

* Closing Prices, Turnover and Market Cap. in USD

-

-

-

0.090

0.090

11

0.575

0.575

1

-

-

-

7

% Change

2 -

LIFE

Preventing back pain among new moms

Back pain is common among new moms, who always seem to be lifting and carrying their newborns.

The American Academy of Orthopaedic Surgeons offers these suggestions to help new mothers thwart back pain: * Start exercising in short bursts as soon as you can after you give birth. * Make an effort to get back to your pre-pregnancy weight within six weeks of delivery. * When you pick up your baby, don’t twist your body. Hold baby close to you. Bend at the knees, squat down and lift with your legs. * Carry baby with a front carrier; never carry baby on your hip. * Nurse baby in an upright chair. Bring baby to your breast, rather than bending over. * When putting baby in a car seat, kneel in the backseat, rather than standing upright outside the car.

WEDNESDAY, FEBRUARY 29, 2012

Stem cell research reveals key role for bad breath LONDON: The compound responsible for bad breath may help speed the development of stem cells from dental pulp into valuable treatments for patients, according to Japanese researchers, reports The Guardian.

Hydrogen sulphide (H2S), the noxious mix that smells of rotten eggs and is a major cause of halitosis, appears to help transform the cells into liver cells, said a team from Nippon Dental University, Tokyo.

It collected stem cells from the pulp - the central part of the tooth made up of connective tissue and cells - from patients undergoing routine extractions before separating them into a group incubated in an H2S chamber and a control group.

They were analyzed after three, six and nine days, to see whether they changed into liver cells and tested for their effectiveness, including the ability to store glycogen, which is converted to glucose when the body needs energy, and collect urea, the by-product of protein metabolism, which is transferred by the kidneys from blood to urine.

The researchers, whose findings are published in the Journal of Breath Research, published by the Institute of Physics, said their work suggested liver cells could be produced in high numbers to a high quality. Lead author Ken Yaegaki said: “High purity means there are less ‘wrong cells’ that are being differentiated to other tissues, or remaining as stem cells ... These facts suggest that patients undergoing transplantation with the hepatic cells may have almost no possibility of developing teratomas (malignant tumors) or cancers.

FILE-Stem cell research has indicated how the compound that creates bad breath may help in the development of medical treatments. (Agencies)

“Until now, nobody has produced the protocol to regenerate such a huge number of hepatic cells for human transplantation. Compared to the traditional method or suing fetal bovine serum to produce the cells, our method is productive and, most importantly, safe.”

Anthony Hollander, head of cellular and mo-

lecular medicine at Bristol University, said: “This is interesting work in a new direction but there’s a long way to go to see if it is usable therapeutically.”

The real test of a liver cell was whether it could metabolize specific toxins and that would require experiments on enzyme function, he said.

Regulator calls for life-long checks on metal hip implants LONDON: Most British patients with all-metal artificial hips should be followed up for the life of the implant with annual tests to monitor for problems, including exposure to toxic metals, Britain’s medical regulator said on Tuesday.

Patients with large-head implants should have blood tests to check for metal ions and magnetic resonance imaging scans (MRI) if they have raised metal levels or show adverse symptoms, the Medicines and Healthcare Products Regulatory Agency (MHRA) said.

It issued the new clinical guidelines to doctors about the artificial hips after reports of swelling and tissue damage in some patients, and high failure rates with certain devices.

The regulator said around 49,000 patients out of 65,000 with all-metal hips were in a high-risk category.

The move will fuel controversy about the regulation of medical devices in Europe in the wake of a scandal over France’s Poly Implant Prothese (PIP) breast implants. Critics argue European oversight is too lax to spot substandard products.

The MHRA update comes on the same day as an investigation by the British Medical Journal

into all-metal artificial hips, which warned that the problem may affect more people than the breast implant scandal.

“Metal-on-metal” hips were developed to be more durable than traditional implants, which combine a metal or ceramic ball with a plastic socket.

But patients receiving some all-metal hips turned out to be more likely to need repeat surgery than those who got implants made of other materials. They also produce debris that can release chromium and cobalt ions into the blood, causing health problems and potential damage to chromosomes.

Doctors are advised to consider removing and replacing implants if patients have abnormal MRI scans or if metal ion levels in the blood reach worrying levels.

In 2010, Johnson & Johnson issued a massive recall of its DePuy ASR all-metal hip implant system that failed at a higher-than-expected rate, and last month the company took a charge of more than $3 billion largely related to the recall.

The latest advice for life-long checks in the case of all-metal implants with a head diameter

greater than 36 millimeters updates previous guidance from April 2010 that patients only needed to be monitored for five years after their operation.

The new guidance does not affect all-metal hip resurfacing systems with no stem sticking into the bone, such as Smith & Nephew’s Birmingham Hip Resurfacing joints.

Following the controversy over metal-on-metal hips, their rate of use has fallen markedly in Britain to around 5 percent of hip replacement operations in 2010 from around 15 percent four years earlier, a trend the MHRA said it welcomed.

“For a small group of patients this implant is still good news and we don’t want to take them completely off the market,” Susan Ludgate, the agency’s clinical director, told reporters.

“But the use of these implants has come crashing down over the last few years and that’s where we want it to be.”

Other companies that make metal-on-metal hip implants include Zimmer, Stryker, Corin, Biomet, Implacast, Wright Medical, Joint Replacement Instrumentation and Finsbury/MatOrtho, according to the MHRA. -Reuters

Incompetent people too ignorant to know it WASHINGTON: A growing body of psychology research shows that incompetence deprives people of the ability to recognize their own incompetence, reports LiveScience. To put it bluntly, dumb people are too dumb to know it. Similarly, unfunny people don’t have a good enough sense of humor to tell.

This disconnect may be responsible for many of society’s problems.

With more than a decade’s worth of research, David Dunning, a psychologist at Cornell University, has demonstrated that humans find it “intrinsically difficult to get a sense of what we don’t know.” Whether an individual lacks competence in logical reasoning, emotional intelligence, humor or even chess abilities, the person still tends to rate his or her skills in that area as being above average.

Dunning and his colleague, Justin Kruger, formerly of Cornell and now at New York University, “have done a number of studies where we will give people a test of some area of knowledge like logical reasoning, knowledge about STDs and how to avoid them, emotional intelligence, etcetera. Then we determine their scores, and basically just ask them how well they think they’ve done,” Dunning

said. “We ask, ‘what percentile will your performance fall in?’”

The results are uniform across all the knowledge domains: People who actually did well on the test tend to feel more confident about their performance than people who didn’t do well, but only slightly. Almost everyone thinks they did better than average. “For people at the bottom who are really doing badly - those in the bottom 10th or 15th percentile - they think their work falls in the 60th or 55th percentile, so, above average,” Dunning told Life’s Little Mysteries. The same pattern emerges in tests of people’s ability to rate the funniness of jokes, the correctness of grammar, or even their own performance in a game of chess.

“People at the bottom still think they’re outperforming other people.” [Graph] It’s not merely optimism, but rather that their total lack of expertise renders them unable to recognize their deficiency. Even when Dunning and his colleagues offer study participants a $100 reward if they can rate themselves accurately, they cannot. “They’re really trying to be honest and impartial,” he said.

If only we knew ourselves better. Dunning be-

lieves people’s inability to assess their own knowledge is the cause of many of society’s ills, including climate change denialism. “Many people don’t have training in science, and so they may very well misunderstand the science. But because they don’t have the knowledge to evaluate it, they don’t realize how off their evaluations might be,” he said.

Moreover, even if a person has come to a very logical conclusion about whether climate change is real or not based on their evaluation of the science, “they’re really not in a position to evaluate the science.”

Along the same lines, people who aren’t talented in a given area tend not to be able to recognize the talents or good ideas of others, from co-workers to politicians. This may impede the democratic process, which relies on citizens having the capacity to identify and support the best candidate or policy.

The ultimate takeaway of the research is the reminder that you really may not be as great as you think you are. And you might not be right about the things you believe you’re right about. And if you try to joke about all this, you might not come off as funny as you think.

Scientists find key to immortality for asexual worms

LONDON: Who wants to live forever? Some flatworms do, even if it means no sex. British scientists have found that a species of flatworm can overcome the process of ageing to become potentially immortal and say their work sheds light on possibilities of alleviating ageing and age-related characteristics in human cells. In a study published in the Proceedings of the National Academy of Sciences journal on Monday the researchers found that the flatworms, known as planarian worms, can continuously maintain the length of a crucial part of their DNA, known as telomeres, during regeneration. “Our data satisfy one of the predictions about what it would take for an animal to be potentially immortal,” said Aziz Aboobaker, who led the research at Britain’s University of Nottingham. “The next goals for us are to understand the mechanisms in more detail and to understand more about how you evolve an immortal animal.”

Planarian worms have long fascinated scientists because they have an extraordinary ability to regenerate. A planarian worm split lengthwise or crosswise will regenerate into two separate living worms. Aboobaker’s team studied two types of planarian - those that reproduce sexually, like humans, and those that reproduce asexually by simply dividing in two.

Both types appear to regenerate indefinitely by growing new muscles, skin, guts and even entire brains again and again, Aboobaker explained in a statement about the work, but the asexual ones also renew their stocks of a key enzyme which may mean they can be immortal. Scientists know that one of the key factors associated with ageing cells is telomere length. Telomeres are sections of DNA that cap the ends of chromosomes, protecting them from damage and the loss of cell functions linked to ageing. Shorter telomeres are thought to be an indicator of faster ageing. Previous research -- which won the Nobel Prize for Medicine in 2009 -- has shown that telomeres can be maintained by the activity of an enzyme called telomerase. In most sexually reproducing organisms the enzyme is most active during early development, but Aboobaker’s team found that in the asexual worms, the planarian version of the enzyme is dramatically increased during regeneration - a factor that allows stem cells to maintain their telomeres as they divide to replace missing tissues. Douglas Kell, chief executive of the Biotechnology and Biological Sciences Research Council which partfunded the study, described the finding as “exciting” and said it “contributes significantly to our fundamental understanding of some of the processes involved in ageing.” The work also “builds strong foundations for improving health and potentially longevity in other organisms, including humans,” he said in a statement. -Reuters

New flu virus is found in bats

FRANCE: A new strain of influenza A has been found in fruit bats, indicating for the first time that bats, like birds, can be carriers of the virus, though it is not believed risky to humans, according to US health authorities. “This is the first time an influenza virus has been identified in bats, but in its current form the virus is not a human health issue,” said Suxiang Tong, head of the Centers for Disease Control and Prevention’s pathogen discovery program. “The study is important because the research has identified a new animal species that may act as a source of flu viruses.” The influenza A virus was detected in a sample of three of 316 live little yellow-shouldered bats captured at two different sites in Guatemala. That type of bat is not known to bite humans but feeds on fruit, and is native to Central and South America. Previous flu pandemics, such as the 2009 H1N1 pandemic, which came to the public’s attention as “swine flu,” have been known to originate in animals and eventually transform so that they gain the ability to infect people. “Fortunately, initial laboratory testing suggests the new virus would need to undergo significant changes to become capable of infecting and spreading easily among humans,” said Ruben Donis, chief of the Molecular Virology and Vaccines Branch in CDC’s Influenza Division. “A different animal -- such as a pig, horse or dog -- would need to be capable of being infected with both this new bat influenza virus and human influenza viruses for reassortment to occur.” More details about the findings are published in the US journal the Proceedings of the National Academy of Sciences. -AFP

Fossils show huge penguin once roamed New Zealand FRANCE: Fossilized remains of one of the largest penguins ever, an “elegant” giant standing 1.3 meters tall, have been found in New Zealand, scientists said Tuesday.

The penguin lived 27-24 million years ago, when New Zealand was mostly underwater and consisted of isolated, rocky outcrops that offered protection from predators and plentiful food supplies, researchers said.

The first traces of the penguin, dubbed Kairuku -- Maori for diver who returns with food -- was found embedded in a cliff at Waimate in the South Island by University of Otago paleontologist professor Ewen Fordyce in 1977.

Over the years, Fordyce discovered more complete remains and invited University of North Carolina specialist Dan Ksepka to help reconstruct the lost giant in 2009.

They determined the bird was much

larger than the biggest modern penguin, the Emperor, which grows up to 1.0metres, and weighed in at 60 kilograms, twice as much as the Emperor.

“Kairuku was an elegant bird by penguin standards, with a slender body and long flippers, but short, thick legs and feet,” Ksepka said.

Fordyce said the bird’s large size was an adaption that allowed it to swim further and dive deeper than its modern-day counterparts.

He was unsure why it became extinct, suggesting climate change or increased predation from dolphins and seals as possible reasons for its demise.

The findings were published in the latest edition of the Journal of Vertebrate Paleontology.

In 2010 scientists reported finding a fossilized specimen from 36 million years ago estimated to have been 1.5 meters tall. -AFP

Common sleeping pills linked with higher death risk FRANCE: Commonly-prescribed sleeping pills are linked to a more-than fourfold risk of premature death, according to an American study published in the journal BMJ Open on Monday.

These medications were also associated at higher doses with a 35-percent increased risk of cancer as compared with non-users, but the reason for this is unclear.

Doctors led by Daniel Kripke of the Scripps Clinic Viterbi Family Sleep Center in La Jolla, California, looked at the medical records of more than 10,500 adults living in Pennsylvania who were taking prescribed sleeping aids.

These were compared against more than 23,600 counterparts, matched for age, health and background, who did not take these drugs.

The study ranged over two and a half years, and looked at widely-prescribed sleeping pills, including benzodiazepines, non-benzodiazepines,

barbiturates and sedatives.

The overall number of deaths that occurred during this period was small in both groups, being less than a thousand in total.

But there was a striking difference in mortality, the researchers found.

Those who took between 18 and 132 doses of the pills per year were 4.6 times likelier to die than the “control” group.

Even those who took less than 18 annual doses were more than 3.5 times likelier to die.

“Rough order-of-magnitude estimates... suggest that in 2010, hypnotics (sleeping pills) may have been associated with 320,000 to 507,000 excess deaths in the USA alone,” says the study.

Details of how individuals died were not disclosed, and the authors stress that they have found a statistical link but not a cause.

But they sound the alarm, given the vast num-

ber of people who take these drugs.

“We estimate that approximately six to 10 percent of US adults used these drugs in 2010 and the percentages may be higher in parts of Europe,” they write.

The average age of the people in the study was 54. The researchers say they took into account factors that could skew the comparison between the two groups, such as whether an individual smoked or had a pre-existing health condition.

However, they were unable to take depression, anxiety and other emotional factors into account, as these diagnoses are kept secret under Pennsylvania law.

Previous research into sleeping pills has found a link with car accidents and serious falls, “nighteating syndromes” of bingeing on food, regurgitation in the esophagus and peptic ulcer disease.

-AFP

This handout illustration by artist Chris Gaskin received on Feb. 28, 2012 from the Geology Museum at the University of Otago in Dunedin shows a reconstruction of a penguin which lived 27-24 million years ago, based on study of the original fossils. (AFP)

16

ALWATAN DAILY

CULTURE

WEDNESDAY, FEBRUARY 29, 2012

Janet Swain brings Numama to Kuwait

Numama sessions taking place in Singapore.

Onilda Fernandes

How it all began

Staff Writer

KUWAIT: A non-profit daytime community choir, Numama is a forum for women to unite, share, and escape reality for just 60 minutes a week through song. “Numama groups can be found in Australia, Singapore and Dubai.

When I moved to Kuwait in September 2011, after 3 years in Singapore, where I directed Numama from its very beginnings, I decided to start one here as well,” explains Janet Swain to Al Watan Daily.

Commencing in Kuwait on March 7, 2012 in a villa on Shaheen Al Ghanem Street, Swain hopes to make a difference to the women in Kuwait by introducing Numama here.

“The sisterhood element is borne out in its name: the ‘mama’ is self-explanatory and the ‘nu’ refers both to the new season of life that motherhood brings but in addition, ‘nu’ means ‘woman’ in Mandarin Chinese,” says Swain, who has a degree with honors in music, from University of Western Sydney and Macquarie University in Sydney and is also an award winning songwriter who produced a solo CD in 2001.

Numama was conceived back in the summer of 2009 by two young and displaced British mothers in Singapore, who discovered they shared something in common beyond a dislike of dirty nappies and sleepless nights–A love of singing.

Neither could be said to come close to having any particular talent, but music and singing had woven a thread through both of their lives at school, university and beyond, into finding space for song in the world of work.

Yet the arrival of children challenged their shared hobby with most choirs involving evening rehearsals (and therefore expensive babysitting), relatively unforgiving attendance rules and challenging music. At the same time, the mother and baby groups that now dominated their weekly schedules seemed expensive, the baby-centric nursery rhymes that appeared again and again were twee and often the only thing in common they shared with the other mothers was the fact that they had children, which sometimes wasn’t enough to spark a true friendship. And so, Numama was born. Filling in these gaps, the group became an inexpensive mother and baby group where the activity focuses on the needs of the mother but in a safe and nurturing environment for the child, to be a support group for new mums adjusting to their new

world, and, the grandest goal of all, to be a daytime community choir for mums (or mums-to-be) where they could do something for themselves and challenge themselves in ways that was different from the wonderful but sometimes tiring existence of raising small children. “We are working together to develop the concept and the brand in as many different places as possible,” said Swain.

Numama sessions

“We always begin with warm ups - both physical and vocal - and there is an element of the singing lesson in each session. We sometimes spend a little time learning to read music, although the focus is much more on listening and learning through repetition - this works much more effectively with small babies in the room, and we try to keep people moving and singing rather than figuring out complicated sheet music,” explains Swain. “We have a repertoire of songs that we try to get through in each term. Some of the songs are suggested by Numama leaders, but groups can also include their own songs of course - depends on the musical tastes of each group.”

Numama works towards two concerts a year - usually they are pretty informal and relaxed, and women are en-

couraged to bring their babies on to the stage if they feel comfortable doing so. “This seems so natural to us, and babies love the warmth and familiarity of their mothers singing bodies! We also have a ‘Home and Away’ charity policy, where any money raised from concerts can go towards supporting a local charity of the choir’s own choice,” states Swain. Originally from Sydney, Australia, Swain explains that Numama groups have numerous positive functions.

“They are a place for women to get together and enjoy the challenge of learning new songs, in harmony, and getting out the house without having to organize child care or leave their babies behind.We also believe that babies benefit from seeing their mums doing something for themselves, and also from being around singing and music. Mothers can hold their babies, feed them, change their nappies or whatever is required, and at the same time join in with the group. It is one of the very few things that women can do something for themselves with their babies present. The groups also become wonderful support networks for women, developing friendships, and confidence,” concludes Swain.

Numama will begin in Kuwait on Wednesday March 7, from 10am to 11am. For details contact Janet Swain on 9098803.

The Olympic Games to have distinct look LONDON: For athletes, the Olympics are about the gold. For London organizers, the Olympics are about the pink, the purple and the orange - colors that will give the 2012 games an immediately recognizable look.

Cities, towns and hamlets all over Britain are getting ready for their once-in-a-lifetime TV closeups.

Take Mole Valley, a community of 80,000 near London that is hosting the Olympic cycling road race. It has asked residents to plant dahlias, petunias and sunflowers in Olympic-approved shades so when the riders swish past on July 28-29, television viewers will be left seeing swishes of pink, purple and orange.

It’s not an accident: Making Britain memorable is considered critical to the long-term success of the games.

“What will people be reminded of when they pull out the T-shirt, the pin?” asked Greenwich University marketing department professor Peter Vlachos. “Will they remember London or the Olympics?”

Work is being done now in hopes that viewers - and potential tourists in particular - fondly remember the UK and not just the sports. Britain’s leaders will spend 9.3 billion pounds ($14.6 billion) on the games, but hope that tourism and outside investments will repay billions in revenue over time.

A barge carrying huge Olympic rings is sailing down the Thames on Tuesday - a precursor of photo opportunities to come. Local neighborhoods without the money to hire a barge for the day need only consult Olympic organizers’ “Look Book” to get ideas - and purchase materials - to festoon their buildings in games-approved decor.

London’s look is predominantly pink, aqua

blue, yellow, purple and green - big colors in shards that slash at the edges of Olympic banners.

“The people who are running these things and their paymasters and mistresses have convinced themselves that you hold these things to sell yourselves to the world,” said David Goldblatt, who wrote “How to Watch the Olympics,” with co-author Johnny Acton. “The selling of brand GB(Great Britain)/London is at the heart of the rationale.”

This is not an idea unique to London. Hollywood-conscious Los Angeles recognized in 1932 that the games offered a platform for selling its image as the capital of glitz and sun. Organizers planted palm trees along Wilshire Boulevard, making it seem bigger, more stately - a feel that is readily identifiable as Californian.

“If people are going to take pictures, you’ve got to dress the set,” Goldblatt said. “The genius of Los Angeles is that they realized it.”

Then Los Angeles supplied the cast - having Hollywood stars appear at the Olympic Village.

Screen idols like Mary Pickford hosted parties. The Marx Brothers went to athletics events. Movie mogul Louis B. Mayer had athletes over for coffee.

Although it’s a world away from Los Angeles, cycling venue Mole Valley is beside itself with excitement, planning British street parties, contests for kids, welcome centers for tourists.

“The games will put Surrey on the map,” said Denise Saliagopoulos of the Surrey County Council, who predicts the games will attract 1 million tourists a year.

No one is forcing any community to take part.

Banner hanging and flower planting are optional.

In London, organizers will hang the Olympic rings from the famous Tower Bridge. Light displays are also planned.

In a separate move, Olympic organizers also

are working to keep out any advertisers trying to sneak in a publicity stunt. Organizers have imposed strict advertising regulations along the route to protect Olympic sponsors from unwanted competition.

“Where a company deliberately attempts to create an authorized association with London 2012 we will take swift and firm action,” organizers said in a statement.

London’s Olympics organizers aren’t really talking too much about look yet - preferring to wait until a big launch in the spring. One might say they are a tad media-shy, as their early attempts at a unified look have not been met with acclaim.

The unveiling of the 2012 London logo was met by a wave of derision. Iranian hard-liners complained that the squarish design spelled out the word “Zion” as opposed to the numerals “2012.”

Impromptu contests sprang up in the blogosphere to offer alternative logos featuring icons like Big Ben or the London Eye. But that doesn’t mean organizers won’t go to great lengths to make sure London and other sites hosting the games look just so.

The marathon route originally was supposed to go through gritty areas in east London where the Olympic Park is located. But - mindful of television images - organizers rerouted the race so it now passes classic London landmarks.

Civic leaders in east London, however, were outraged. After six years of living next to one of Europe’s biggest construction projects, they were hoping to reap the benefits of being on the world stage.

“It just makes you feel as if they were completely ashamed of that part of London,” said Andrew Boff, a Conservative politician. “It didn’t fit with TV angles.” -AP

as they move east along the Thames river to celebrate 150 days until the games begin, in London Feb. 28, 2012. (Reuters)

Models present creations by Portuguese designer Fatima Lopes during the Fall/Winter 2012-2013 ready-to-wear collection show, on Feb.28, 2012 in Paris. (AFP)

ALWATAN DAILY

ENTERTAINMENT pçåÖ=lÑ=qÜÉ=a~ó

Fahad AlSabah Staff Writer

Song: In Time Artist: Rosie Thomas Album: With Love Genre: Folk In short: Rosie Thomas is one of the artists whose strength lies solely in their lyrics and melodies; with five albums under her belt, Thomas has created a sound that’s purely her own. While “In Time” could’ve been on any of her five records, it doesn’t change the fact that it’s a strong number that few beside Thomas could pull off.

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

qÜÉ=_ìòò Jazz saxophonist Red Holloway dies at 84 James “Red” Holloway, a noted saxophonist who played with the greats from the big band era through bebop, blues, R&B and modern jazz, has died in California. He was 84. His manager, Linda Knipe, says the Cambria resident died on Saturday at a care home in Morro Bay from kidney failure and complications of a stroke. During a career that spanned nearly seven decades, Holloway’s versatility and driving swing style kept him much in demand. He performed with legends such as Billie Holiday, B.B. King, Lionel Hampton and Aretha Franklin. -AP

Tribeca to release Martin Donovan’s Collaborator

WEDNESDAY, FEBRUARY 29, 2012

Malaysia bans Erykah Badu show over Allah body art

KUALA LUMPUR: Muslim-majority Malaysia on Tuesday banned a planned concert by Erykah Badu after a photograph appeared showing the Grammywinning singer with the Arabic word for Allah written on her body.

The American R&B singer was scheduled to perform Wednesday in Kuala Lumpur, but some Muslim groups said Badu was an unsuitable role model for young Malaysians after seeing a publicity photo of her with what appeared to be temporary tattoos of the word Allah on her bare shoulders.

A government committee that includes police and Islamic policy officials decided to forbid Badu’s show because the body art was “an insult to Islam and a very serious offense,” Information Minister Rais Yatim said in a statement.

The photo of Badu had “triggered public criticism that could jeopardize national security and cause a negative impact to the government’s image,” the statement added.

The 41-year-old, Dallas-born singer had already arrived in Malaysia. She can stay as a tourist but will not be allowed to perform, an Information Ministry

official said on condition of anonymity because he was not authorized to make public statements.

Razman Razali, managing director of the show’s Malaysian organizer, Pineapple Concerts, said his company hopes the ban will be reversed.

Badu is “worried and dismayed,” Razman told The Associated Press. She was slated to perform in an auditorium that can hold about 3,000 spectators.

It was the first concert by a Western performer to be banned in Malaysia in recent years. Several other stars, including Gwen Stefani and Avril Lavigne, were told to dress modestly while performing.

The photograph of Badu, which also appears on her official fan website, attracted attention after Malaysia’s most widely read English-language daily, The Star, published it Monday.

On Tuesday, the newspaper apologized to Muslims for what it called an “oversight,” saying it deeply regretted any offense sparked by the photo, which was “inadvertently published.” The Home Ministry summoned The Star’s editors to explain the photograph, which caused some Muslim activists to demand the newspaper’s suspension. -AP

FILE- In this handout photograph, singer Erykah Badu appears with the Arabic word for Allah written on her body. (Agencies)

Censors ban screening of ‘taboo’ Egypt love story PARIS: Egyptian film-makers and critics denounced the authorities on Monday for blocking the screening of a “taboo” film about a love story between a Christian woman and a Muslim man.

“We denounce the fact that censorship authorities have prevented the screening of Hesham Issawi’s “Cairo Exit” at the Luxor African Film Festival,” dozens of film-makers and critics said in a signed statement.

They charged the censorship authorities had failed to respond to festival organizers on whether they could screen the movie even outside the main festival.

“The festival organizers suggested to the censorship authorities that the film be shown only to members of the jury, critics and journalists but they never replied,” the statement said. “The censorship authorities stalled,” preventing the film from being screened as planned on Monday at the event which opened on Feb. 21 and is to run until Tuesday.

Under Egyptian law, films must obtain a written permit from censorship authorities in order to be screened. Anyone violating the procedure could be sentenced to jail.

“Cairo Exit” -- which deals with the ul-

tra-sensitive issue of a relationship between a Muslim and a Coptic Christian -- was screened at the Tribeca Film Festival in New York last year. “The story deals with many issues that touch on the fabric of the Egyptian society,” Issawi, who directed and wrote the movie, said in a statement posted on the website of the Tribeca Film Festival.

“Religious conflict between Muslims and Coptic is one important taboo in Egyptian media,” he added.

Rumors of Coptic-Muslim incidents have often led to deadly violence between the two communities.

ish singer, Katherine Jenkins performs at the New Oxford Theatre, Oxford. (AP)

Ridley Scott to produce Japan In a Day

Stars to celebrate Johnny Cash’s 80th with concert A diverse all-star lineup will celebrate the 80th birthday of Johnny Cash with an April concert. Kenny Chesney, Kris Kristofferson, Lucinda Williams, Ray LaMontagne and Jamey Johnson are among the performers scheduled to appear in “We Walk the Line: A Celebration of the Music of Johnny Cash” on April 20 at the Austin City Limits Live venue in Austin, Texas. Chris Cornell, Ronnie Dunn, Carolina Chocolate Drops, Amy Lee and Shooter Jennings also will perform.

Tickets go on sale Wednesday. Though Cash died in 2003 at 71, interest in his music and legacy continue. Several celebrations are planned. Members of the Cash family gathered Sunday in Dyess, Ark., on what would have been Cash’s 80th birthday for the groundbreaking on a museum at his boyhood home. -AP

Lucy Liu joins CBS Sherlock Holmes pilot Elementary Hardly. Lucy Liu has joined the cast of CBS’ Sherlock Holmes-drama pilot -- as Holmes’ assistant Watson. Who traditionally has been portrayed by, you know, male actors. With “Charlie’s Angels” star Liu in the role, Watson is being re-envisioned as Joan Watson, who lives with Holmes in modernday New York. “Trainspotting” actor Jonny Lee Miller, who recently had a run on Showtime’s serial-killer hit “Dexter,” will star as the legendary sleuth Holmes in the pilot, which comes via CBS Television Studios and Timberman-Beverly Productions. -Reuters

Desperate Housewives lawsuit goes to court “Desperate Housewives” is ending its run with a dramatic courtroom confrontation -- not on the show, but in real life.

Nicollette Sheridan’s $20 million wrongful termination suit goes to court today in Los Angeles. Sheridan says she was fired her after she complained about creator Marc Cherry hitting her during a 2008 argument. Her character, Edie Britt, was killed off. In her lawsuit, Sheridan said Cherry “forcefully hit her with his hand across her face and head” over a script disagreement during rehearsal. She responded, “You just hit me in the head. That is not OK. THAT IS NOT OK,” according to the lawsuit. -Reuters

Critics of the ban expressed “regrets that such practices continue in Egypt after the Jan. 25 (2011) revolution” that toppled the ironfist regime of President Hosni Mubarak and “adopted the concepts of freedom and civil state.”

“The idea of censorship is ridiculous,” in a country that has emerged from a revolution that toppled an autocratic regime, they said.

Copts, who make up between six and 10 percent of Egypt’s 82-million population, complain of systematic discrimination. Concern has grown over the triumph of Islamists in the first polls since Mubarak’s fall last year. -AFP

Gladys Knight, Gavin DeGraw among Dancing with the Stars cast

Tribeca Film has acquired domestic distribution rights to “Collaborator,” Martin Donovan’s comedic drama -- the actor’s directorial debut, the company said Monday. Tribeca Film plans a summer release for the movie. Donovan stars in the film, which he wrote and directed. In “Collaborator,” Donovan plays Robert Longfellow, a famous playwright whose new play has bombed and whose marriage is becoming rocky. When his childhood neighbor, a right-wing ex-con who still lives with his mother reappears in Robert’s life, the playwright finds himself held hostage at gunpoint in his childhood home. -Reuters

Based on its film “Life In a Day,” Ridley Scott’s company Scott Free Productions will partner with Fuji Television to create another user-generated film to commemorate the oneyear anniversary of Japan’s earthquake and tsunami. The 24-hour film, “Japan In a Day,” will be a self-portrait of the country shot by the Japanese public. In addition, Fuji TV will donate 200 cameras to people in areas most affected. On March 11 at midnight, on the one-year anniversary of Japan’s devastating earthquake and tsunami, participants can begin filming their day and then upload the footage at http:// www.youtube.com/JapanInADay. Footage submitted will be selected by Fuji TV for inclusion in the feature film alongside coverage by Fuji TV. The documentary will be screened in cinemas worldwide and all profits from the film will be given to victims of the tragedy. -AFP

17

TV personality Maria Menounos arrives before the 84th Academy Awards in the Hollywood section of Los Angeles. (AP)

FILE - William Levy arrives at the 15th annual People en Espanol ‘50 Most Beautiful’ Issue Celebration at Guastavino’s on May 19, 2011 in New York City.

(AFP)

Singer Gladys Knight arrives at Clive Davis and the Recording Academy’s 2012 Pre-GRAMMY Gala at The Beverly Hilton Hotel on Feb. 11, 2012 in California. (AFP)

LOS ANGELES: Urkel, the Empress of Soul and one of the Green Bay Packers are waltzing onto “Dancing With the Stars.” “Family Matters” actor Jaleel White, singer Gladys Knight and National Football League player Donald Driver will be among the 12 celebrity contestants on the next season of the ABC dancing competition. Other famous faces participating in the 14th edition include “The View” cohost Sherri Shepherd, singer-songwriter Gavin DeGraw, “Little House on the Prai-

rie” actress Melissa Gilbert and Disney Channel star Roshon Fegan.

The new cast, which also includes tennis player Martina Navratilova, “Melrose Place” actor Jack Wagner, telenovela star William Levy, operatic singer Katherine Jenkins and “Extra” co-host Maria Menounos, was announced Tuesday on “Good Morning America.” The contestants will dance their first routines with their professional partners March 19 and March 26, and the first couple will be

eliminated March 27.

Last season, actor J.R. Martinez and professional partner Karina Smirnoff took home the mirrorball trophy with reality TV star Rob Kardashian and partner Cheryl Burke coming in second place in front of former talk show host Ricki Lake and partner Derek Hough. Other previous champions include “Dirty Dancing” actress Jennifer Grey, Pussycat Dolls singer Nicole Scherzinger and gymnast Shawn Johnson. -AP

Tragedy in Rwanda inspires new Fray song

NEW YORK: The Fray’s new song time, and has been credited with editing led those people out of exodus, you’re es“Heartbeat” seems to be about reviving the genocide. After Slade talked to Kagsentially loving the entire world.” a broken relationship, with lyrics like “I ame, he said he understood the purpose The song is on the band’s third album, wanna kiss your scars tonight, and baby, of “Heartbeat.”

“Scars & Stories,” which was released you gotta try, you gotta let me in.”

“One of the few sayings that the Jewish earlier this month. Producer Brendan But the inspiration for the rock tune faith and the Muslim faith share (is) that if O’Brien, known for his work with Pearl has little to do with a failed romance. Inyou kill one man, you’re guilty of killing Jam, Bruce Springsteen and Rage Against stead, it comes from one of the worst tragall of us,” Slade said. “So I wanted to flip the Machine, certainly helped shape the edies in recent memory - the genocide in that to the opposite. If you serve one man, song and the rest of the album, said Joe Rwanda nearly a decade ago. if you do step off your pedestal or whatKing, the band’s guitarist and co-vocalist.

Lead singer and writer Isaac Slade was ever like Kagame did and risk his life and -AP visiting the Rwandan capital of Kigali last year when he found himself standing on the site where more than 250,000 victims of the country’s 1994 genocide were buried. Then he had an epiphany. “(I was) at this gathering with a bunch of local (people) and ex-pats, all standing in circle holding hands, just kind of thinking and talking about Rwanda. This chick was standing next to me and I couldn’t tell if it was her heartbeat or mine, but it felt like the country was getting its pulse back to it,” Slade remembered.

“I busted out my phone and wrote that pre-chorus of this song called ‘Heartbeat,’ and wrote some of the chorus on the way back,” he said.

The vocalist also spent time with President Paul Kagame after a friend arranged a meeting. The visit took place near Kagame’s birthday, so Slade performed a solo version of The Fray’s biggest hit so far, “How to Save A Life,” in the presidential place. Slade bonded with Kagame and the two men spoke of family and the darkest period in Rwandan history, when extremist Hutus killed more than 500,000 Tutsis and moderate Hutus in the country. Kag- FILE - In this Jan. 19, 2012 photo, Issac Slade, (left) and Joe King pose for a photo ame led Rwandan Tutsi soldiers at the in New York. (AP)

Jack Wagner arrives for the Shooting Stars

James Spader quits The Office

LOS ANGELES: James Spader is taking early retirement from “The Office.” The former “Boston Legal” star is leaving the NBC sitcom after he completes the current eighth season of the series, which was his first with the show, the network confirms to Reuters.

Spader played new Dunder Mifflin/Sabre CEO Robert California.

He replaced outgoing manager Michael Scott, played by Steve Carell, after appearing at the end of the series’ seventh season. He then quickly earned a promotion to CEO. According to “The Office” executive producer Paul Lieberstein, the departure is in keeping with Spader’s plans for the show. “James always wanted this to be a one-year arc, and he now leaves us having created one of the most enigmatic and dynamic characters in television,” Lieberstein said. “He’s been a great friend to me and the show, helping us successfully transition into the post-Michael Scott years, and I’m grateful for that.”

Lieberstein’s statement notwithstanding, the current season of “The Office” has been marked by dwindling ratings, with the show hitting a series low of a 2.2 rating/6 share in the advertiser-coveted adults 18-49 demographic with its February 17 episode.

(The show’s ratings improved slightly for its most recent episode Thursday, climbing 13 percent in the demo.) The network does not yet have specific plans for Spader’s replacement. -Reuters

ALWATAN DAILY

AROUND TOWN / TIME OUT

18

WEDNESDAY, FEBRUARY 29, 2012

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

Feature o f

GRAFFITI

the day

MODERATELY CONFUSED

GUST Historical Archaeology class visits Kuwait National Museum

KUWAIT: In honor of the Kuwait National and Liberation Days, the class of Historical Archaeology at the Gulf University for Science and Technology (GUST), decided to take a trip to the Kuwait National Museum where the students visited the main sections: Archaeological Artifacts, Kuwaiti Heritage, the Planetarium and separately, the Sadu House.

Student Abdullah Al-Najdi mentioned: “Museums are a reflection of any nation’s culture.

They show the different historical stages the nation has gone through.

A person can travel back centuries through the history of their country. This can enable any nation to learn from their past to avoid making the same mistakes their ancestors made.”

Visiting the Archaeological Artifacts, most students were really surprised that some of artifacts date back to 3000 B.C. There was a big variety from each time period; some of from the Neolithic period, others from the Bronze Age, the Hellenistic Age and even the Islamic Age. Seeing the items in the Kuwaiti Heritage section, students came to a better understanding of how their

Month a t

forefathers lived. The behavior of some of their still-living grandfathers now made more sense to them, which will lead to a stronger bond between the two generations.

They were amazed to see the pictures of the old Kuwait cities with all the stores and figures of the community like the “Tawwash,” the “Kharraz,” the Herbalist...etc.

In the Planetarium dome, the show was projected on the ceiling. The projector released a full documentary about theories of how the universe was created. This atmosphere took the students into an imaginative trip in their minds in which they realized how small they are in comparison to the huge

universe.

In the Sadu House, students learnt about a very important traditional craft performed by older women.

One could differentiate between the styles which belonged to different parts of society. The Bedouin style was more colorful and overly detailed, while the city people made cleaner items with one or two colors; although both were made of sheep wool.

The trip was an eye-opening experience to different aspects of history and it was definitely enjoyable.

It will take a lot of time to absorb what was seen there and take full advantage of it.

SUDOKU

Elementary

Intermediate

Advanced

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

a glance

Art exhibition March 5-15/ 7 p.m. / Dar Al Funoon: Mohammed Abou El Naga is a multidisciplinary visual artist, art professor, curator and developer. Throughout his colorful career, he created award winning art projects, fulfilled his responsibility towards his community and brought up new generation of young artists with his teaching, workshop and his multitude of practices.

New Toastmasters Club Second and fourth Tuesday/ 7 p.m. - 9 p.m. / Jabriya: A new Toastmasters Club is being formed and encouraging new members to join. Toastmasters International is a world leader in communication and leadership development. It is a non-profit international organization dedicated to improve member’s communication and leadership skills by attending and participating toastmasters meetings. For more information, please contact Khaled Al-Hashem at 65588824.

K’S PATH invites applicants for the adoption of pets Lana is a very affectionate and sweet female puppy of mixed breed. She was born in October 2011. Lana is a happy girl who loves to play and go for long walks. She will be a great addition to a family with children over 10 years of age.

Waist Watchers

Diwaniya presentation March 6/ 7 p.m. / AWARE Center: You are invited to a diwaniya presentation entitled, “Business Survival Guide” by An Swinnen. In 2010, An decided to write “The Business Survival Guide (because it is a jungle out there)” which gives top tips on how to run your own business, business skills, management skills and social skills. The book was written in Kuwait and summarizes some of An’s experiences of doing business in Kuwait and the GCC countries. For more information, call 25335260 ext 0.

Salsa workshop March 2/ 8 p.m. - 9 p.m. / Better Books: Your chance to dance to salsa beats, shake your legs to basics, enjoy Latin music and burn up the dance floor. Welcome to a one-hour free salsa workshop. Call 99885102 or 55885102.

Turkish lessons for beginners March 4/ Turkish Embassy: The Embassy of the Republic of Turkey announces that “Turkish”, a new class of Turkish lessons for beginners will restart at the Embassy’s Tourism, culture and information office. For further details please contact 22277405.

Fiona is a beautiful female SemiLong Haired cat born in May 2008.

She loves being cuddled and a good belly rub! She enjoys being held and likes to play. Fiona would be a lovely new family member in a household with children over 5 years of age. To adopt, call (+965) 6700 1622.

Every Tuesday/ 6 p.m. – 7 p.m. / British Ladies Society: Meetings are based on the world’s most successful healthy eating plan. Weekly meetings include private weigh in, motivational talks, recipes to try, and cooking demonstrations.

Fee of KD 2.500 is required to cover for the cost of course material. For more info contact; Danielle desertdanny@hotmail.com.

Hip Hop at BAIA Every week/ Salmiya: BAIA offers weekly Hip Hop classes for students aged five and up. These “just for fun” classes are a great work-out. For more information visit www.thebaia.com or contact: info@thebaia.com. Telephone: 2562 3604 ext.154, 2562 0706 ext.154. Mobile: 6005 2087.

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

E-mail: brainbang@focckwt.org or call 25660835/25618471/97677820.

DILBERT

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

EducationUSA Do you have questions regarding studying at a university in the US? AMIDEAST can help.

Please visit our EducationUSA Advising Center in Sharq, and attend one of our weekly free group advising sessions, held every Monday, from 3 p.m. to 4 p.m. For further information, visit: www.amideast.org, telephone us at 2247-0091, ext. 6819, or E-mail us at: kuwait@ amideast.org.

NANCY

HOROSCOPES Aries: March 21 - April 19

In an unpleasant situation, your inclination is to protect your loved ones from the truth. This would be a mistake, Aries. Even though you’re acting out of love, your family members deserve to know the truth even if it hurts. You can’t shield them from the realities of the outside world. Most people, even the young, prefer to know the facts.

Taurus: April 20 - May 20

You may be feeling tired and a bit wrung out today, Taurus. Although you’re a workaholic by nature, even you are forced to admit that this is a day to stay in bed. Give yourself these few hours to regroup and recoup your energy. You’ll need to be operating at peak form for all the work that’s likely to hit your desk next week.

Gemini: May 21- June 21

There could be a missing person very much on your mind these days. Is it possible that the relationship is over and you’re the last one to know? Don’t let your insecurities get the better of you. It’s likely that your friend merely needs some time alone to sort out some big life issues. He or she will seek out your warmth and friendship again.

Cancer: June 22 - July 22

Misinformation is likely to spread like wildfire today, causing a lot of unnecessary upset either among your neighbors at home or your colleagues at work. Don’t accept at face value any gossip or rumor you hear, Cancer. Check the accuracy of the information yourself. If it does turn out to be false, as is likely, you’ll feel sorry if you’ve had any part in perpetuating it.

Leo: July 23 - August 22

You’re finally setting in motion some longstanding goals of yours, Leo. Good for you! But even though everything is in place and you’re ready to go, it’s possible that you’ll receive notice today of some delay in your plans. The frustration feels unbearable. But when you step back and look at the bigger picture, you’ll see that ultimately this delay is in your best interests.

Virgo: August 23 - September 22

Beware lawyers, bankers, and stockbrokers today.

One of them is likely to try and mislead you with some inaccurate information. While it might be in his or her best interests for you to take this information at face value, it certainly isn’t in yours! Do your own research and get all the facts before making the financial investments.

Libra: September 23 - October 22

A family member or other loved one may not be telling you the truth. In this person’s defense, he or she likely thinks they’re protecting you by shielding you from the truth. This is a time for you to trust your instincts, Libra. If you’re told something that simply doesn’t ring true, check the information yourself rather than accept it at face value.

Scorpio: October 23 - November 21

You have an active mind and an even more active imagination, Scorpio. Today you risk short-circuiting your brain as you struggle to keep up with all the ideas and information swirling inside your head. Take a few minutes to do a mental inventory. Write down everything you’re thinking right now so you can free some space in your brain for other issues.

Sagittarius: November 22 - December 21

If a family member is in a bad mood but not confessing why, it’s up to you to step in and help. He or she is carrying that big black cloud around, casting shadows everywhere they go. Do what you can to snap your relative out of it, although take care not to force the issue too harshly.

Capricorn: December 22 - January 19

If a friend or colleague seems to be in trouble, you may not want to interfere for fear of being too intimate. But this isn’t a time to hold back, Capricorn.

It’s likely that this person really does need your help. Your intervention will be much appreciated and possibly even rewarded. Be sure to get some rest tonight. You’re emotionally and physically drained.

Aquarius: January 20 - February 18

Your career may be sidetracked by petty gossip, rumor, and office politics. It’s likely that someone is pushing forward his or her agenda without any thought or concern for its impact on others. Do what you can to put a stop to such shenanigans, Aquarius. There are times when it’s appropriate to be the whistleblower, and this is one of them.

Pisces: February 19 - March 20

Some bad news about your financial situation may not really be as bad as it first appears. Even so, it throws you for a loop. Double-check the information before spiraling into a panic. It may be that a computer made an error or a bank clerk messed up. You may have to unravel some paperwork, but it will be a relief to have it resolved.

ALWATAN DAILY

SPORTS

WEDNESDAY, FEBRUARY 29, 2012

19

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Kohli leads India to massive win over Sri Lanka HOBART, Australia: Virat Kohli smashed an unbeaten 133 from 86 balls to lead India to a seven-wicket, bonuspoint victory over Sri Lanka on Tuesday, keeping the World Cup champions in contention in the limited-overs tri-series.

Sri Lanka batted first and totaled 320-4 in 50 overs, with Tillakaratne Dilshan scoring an unbeaten 160 and sharing a 200-run, second-wicket stand with Kumar Sangakkara, who hit 105.

Needing to score 321 within 40 overs for the musthave bonus point, India started with necessary aggression through Virender Sehwag and Sachin Tendulkar.

Sehwag flayed the attack for 30 from 15 balls before he was caught by Dilshan off Farveez Maharoof’s bowling in the seventh over at 54-1.

Tendulkar stroked five boundaries and reached 39 from 30 balls before he was trapped lbw by a low full toss from Lasith Malinga in the 10th over. India slipped to 86-2 but Malinga conceded 15 runs in the over which netted Tendulkar’s wicket and India maintained the pressure.

Kohli batted flawlessly in his highest score for India as he shared a 115-run, third-wicket stand with Gautam Gambhir (62) and 120 for the fourth with Suresh Raina (40 not out) to guide India to 321-3 with 80 balls to spare.

India can still advance to the best-of-three finals if Sri

Lanka loses the last league match to Australia on Friday.

“To be able to chase 320 in 40 overs in a must-win game, and put that sort of a batting effort together was a great team effort,” Kohli said. “This shows our character as a team. So far it has been probably the best one-day innings I’ve played.”

Kohli, who clubbed 16 boundaries and two sixes, said India’s destiny in the tournament was in Australia’s hands.

Australia has already secured a place in the finals, which start on Sunday in Brisbane.

Sri Lanka was ideally placed to clinch the other spot in the finals after opener Dilshan carried his bat for an unbeaten 160 at Hobart.

Dilshan reached his 11th ODI hundred from 132 balls and then lifted his run-rate, scoring his next 50 from 27 balls. He equaled his career-high ODI score of 160 with a giant six in the last over. His 165-ball knock contained 11 boundaries and three sixes.

It wasn’t enough for Sri Lanka to improve on its threematch winning streak. Sri Lanka skipper Mahela Jayawardene said India “had the license to go with it today.”

A terrible day for the bowlers was highlighted by Malinga’s figures, with the usually reliable paceman going for 96 in 7.4 overs. One of his overs to Kohli cost 24 runs, including a two, a six and four consecutive boundaries. Sri Lanka has beaten Australia in their last two matches. -AP

Indian batsman Virat Kohli (left) celebrates after scoring his century against Sri Lanka as Kumar Sangakkara looks on during their international one day cricket match played in Hobart, Feb. 28, 2012. (AFP)

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NBA finals forecasts favors Heat, Thunder

Red Bull and Ferrari change testing plans

ORLANDO: Kevin Durant says it’s too early to think about a potential Heat-Thunder NBA finals. It seems hard to ignore at the season’s midpoint.

The teams share the league’s best record and both rolled into the All-Star break. With Durant and Russell Westbrook on one side and LeBron James, Dwyane Wade and Chris Bosh looking to avenge their finals disappointment, the series could be a thriller.

But Chicago is right on Miami’s heels in the East, and a number of contenders could emerge for the Thunder out West.

If the All-Star game was an indication, the series would be a thriller. Durant and Thunder teammate Russell Westbrook helped shoot the West to a big lead. James and Dwyane Wade almost brought the East all the way back before James’ turnover in the final seconds allowed the West to escape with a 152-149 victory.

James endured plenty of similar late-game disappointments last June, when Miami fell to Dallas in its first finals with its Big Three. He vowed to be better and play looser this season, and he went into the break as the MVP favorite after a sensational first half for himself and his team.

“We’ve got a lot of season to go. I’m on the right path, back to playing basketball how I play, and that’s back to having fun at a high level,” James said. “The best thing about this season so far, we’re playing some good basketball. Our team feels that we are one right now, especially with last year under our belt, so we’re just going to try to get better every day.”

Miami and Oklahoma City rolled into the break with a share of the NBA’s best record at 27-7. The Heat have won eight in a row in overwhelming fashion; the Thunder have won five straight and are 15-1 at home.

The NBA’s best headed out of Orlando on Monday, and soon Dwight Howard will learn if he’s joining them.

The Magic have until the March 15 trade deadline to decide whether they will honor his trade request or keep him until the end of the season and risk him leaving as a free agent in July.

The Magic have the East’s fourth-best record and look good enough at times to be viewed as a contender. Still, they and everyone else in the East seem clearly behind Miami and Chicago, whether they keep their franchise center or not.

Howard said the Magic haven’t hit their peak yet and have an opportunity to compete for the title.

Still, the East appears to be shaping up as a two-team race between the Heat and Bulls, who are a half-game back despite battling injuries to All-Stars Derrick Rose and Luol Deng and especially to Richard Hamilton.

Russell Westbrook (0) of the Oklahoma City Thunder and the Western Conference dunks against LeBron James (6) during the 2012 NBA All-Star Game, Feb. 26, 2012. (AFP)

Hamilton, signed to upgrade the shooting guard position, was limited to only 11 games because of a groin injury.

Indiana and Philadelphia have been surprisingly strong, New York has recovered from a poor start behind Jeremy Lin and Boston hopes to bounce back from a disappointing first half, but a rematch of last year’s Eastern Conference finals appears likely.

The playoff picture is less clear in the West. San Antonio surged into the break despite playing for much of the first half without Manu Ginobili; the Los Angeles Clippers have become quick contenders since acquiring Chris Paul; and Dallas may still be good enough for a long playoff run.

Then there’s the Lakers, whose rocky road will have taken another bad turn if the broken nose Kobe Bryant sustained after a hard foul by Wade in the All-Star game forces him to miss time.

He recently expressed his frustration with team management for the way it has gone about deciding if it will or won’t trade Pau Gasol. He’ll be even grumpier if he

has to watch the Clippers end their reign as Pacific Division champions.

Boston’s Rajon Rondo has also been linked to trade rumors, potentially making another All-Star available.

Howard’s status also affects potential destinations such as the Nets and Mavericks, so business will get just as much attention as basketball next month.

With the lockout delaying the season and reducing it to 66 games, the All-Star break actually comes right at the midpoint of the season. Many teams were happy to have the break and eager for practice time after so little was available because of the frequency of games.

That hasn’t affected the Heat or Thunder, who rank first and third in the NBA in scoring with 103.7 and 102.7 points, respectively. Miami has been as dominant as expected when it put its trio together, winning by nearly 10 points a game and even more during their win streak.

The Thunder were built more gradually, winning just 23 games three seasons ago. They reached the West finals last year and seem poised to go further now. -AP

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Roddick hopes for turnaround at Delray Beach DELRAY BEACH: Andy Roddick is hoping to turn around his dismal start to the season at the Delray Beach International Tennis Championships.

The fourth-seeded Roddick, who has slipped to No. 30 in the rankings, usually does well in the first couple of months of the year. He traditionally has fared well at the indoor tournaments in February where he won the Memphis and San Jose titles three times each. But he’s battling injuries. A right hamstring injury forced him to abandon his second-round match at the Australian Open, and he hurt his right ankle during his opening match at San Jose two weeks ago.

Roddick will face Philipp Petzschner of Germany in the first round at Delray Beach on Tuesday night. The American is 2-3 this year, his worst start joined the ATP Tour full-time in 2001.

“Honestly, I’m not as concerned with ranking,” Roddick said. “I just want to get into a flow again rather than some days on, some days off. I just want to play continuously for a while.”

In an all-American first-round match on Monday, Ryan Sweeting swept Donald Young 6-1, 6-1 on a windy day near the beach. Eighth-seeded Bernard Tomic of Australia also advanced, cruising past wild card Tommy Haas 6-4, 6-3.

Sweeting never offered Young a break-point opportunity in the 52-minute

match. He also won 21 of 23 first-serve points that went in play.

Young struggled with his serve and was broken on four of nine break chances he presented to Sweeting.

“It was quicker than I expected and I

don’t think Donald played his best tennis today at all,” Sweeting said. “I think he was struggling with the wind a little bit and made a lot of unforced errors. From the beginning my plan was to just be consistent and keep the ball in play while be-

Andy Roddick of the US reacts after he won his match against Radek Stepanek of the Czech Republic at the Swiss Indoors ATP tennis tournament in Basel, Nov. 3, 2011. (AFP)

ing aggressive. I wanted to make a lot of first serves.”

The 19-year-old Tomic won his first tour match since reaching the fourth round of the Australian Open, where he lost to Roger Federer. He also won the one Davis Cup match he played earlier this month.

Roddick, who grew up nearby in Boca Raton, first played this tournament in 2000, the year he won the Australian and U.S. Open junior titles. This is his first appearance here since 2003.

Before practicing with Philipp Kohlschreiber on Monday morning, Roddick said he’s feeling much better and started running a few days ago. He’s hoping that will translate into a good outcome this week.

“It’s just a matter of getting back to where you’re playing a good numbers game; your winners are more than your unforced errors and you’re playing solid on the big points,” Roddick said. “That just comes from match play. You can come out here and practice and hit shots all day, but for me I just want to get to the point where I’m comfortable playing matches again.”

In other first-round matches: Dudi Sela of Israel defeated American wild card Denis Kudla 6-4, 6-3 and Denis Istomin of Uzbekistan defeated Matthew Ebden of Australia 6-2, 6-3. -AP

LONDON: Champions Red Bull and rivals Ferrari have changed their plans for the final pre-season Formula One test after the sport’s governing body ruled that all testing must end by March 5.

Both teams had planned to start the test at Barcelona’s Circuit de Catalunya on Friday, a day later than others, and run through until the end of Monday.

However they changed their plans after the International Automobile Federation (FIA) sent teams a clarification of the sporting regulations on Monday evening. Both will now test from Thursday to Sunday.

Article 22.4 states that no testing can take place “between the start of the week preceding the first event of the championship and 31 December of the same year” with the exception of a three-day test in August. The season starts in Melbourne on March 18. The two teams had interpreted the rule to mean Monday March 12 was the cutoff, although the first practice session in Australia is on March 16.

The FIA said that date was incorrect because the rules would have stipulated “the week of the first event” for that to be the case.

The new ruling means that Lotus, who pulled out of the second test with a chassis problem detected on the first day, will not be able to make up the missed mileage. Nor will Marussia, who announced on Monday that they will be absent from Barcelona this weekend because their car had failed its final crash test. -Reuters

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Clubs and UEFA agree to drop August friendlies WARSAW: Europe’s leading soccer clubs hailed a ‘major breakthrough’ on Tuesday after agreeing with UEFA to drop the unpopular August date for international friendlies.

European Clubs Association chairman Karl-Heinz Rummenigge, in an address to the ECA’s general assembly in Warsaw, said an agreement had been reached with the European governing body over the removal of the date.

However the German warned that world body FIFA have yet to sanction it and the situation on that front remained unsatisfactory.

Further changes mean that the international calendar will be made up of nine double-headers covering a two-year period with no single friendlies.

In a new Memorandum of Understanding between UEFA and the clubs, they also agreed the two matches of the double-date for friendlies should be played on the same continent.

In future the final tournaments of all confederations shall end mid-July, and players would not be expected to play in more than one international tournament a year.

The ECA, comprising Europe’s top 201 clubs, also reached agreement over insurance payments for players injured while on international duty starting at Euro 2012.

It agreed an increase in benefits from UEFA for clubs whose players are involved in Euro 2012 and Euro 2016.

At the moment that fund stands at 55 million Euros and the future increases will be announced at the UEFA Congress in Istanbul next month.

With so many more African players now with European clubs, it was agreed that the Africa Cup of Nations should start as early in January as possible when it is staged.

Rummenigge said the agreement was a major breakthrough for European club football.

“With this agreement, UEFA clearly recognises the importance of clubs and the significant contribution they make to the success of national team football,” he added.

“The negotiations have not always proved easy, but were always conducted in a fair and respectful manner. I sincerely thank UEFA, in particular UEFA President (Michel) Platini, on behalf of all European clubs and look forward to our continued cooperation. This is once more a proof that in the European football family solutions can be found in a cooperative and fair way.”

However, the German said problems remained with FIFA: “Unfortunately, discussions with the FIFA president have failed to lead to a satisfactory outcome which takes account of the clubs’ demands.”

The new Memorandum starts on June 1 and runs until May 30 2018 and also includes a new clause with clubs having a “Referral Right” on all decisions affecting club football.

No decision relating to club football will be taken without the consent of the clubs, both sides agreed. -Reuters

WEDNESDAY, FEBRUARY 29, 2012

SPORTS

Sports Editors Highlight

PHILADELPHIA: Brothers Andre and Jordan Ayew have both withdrawn from Ghana’s squad for Wednesday’s friendly with Chile in Philadelphia, the Ghana Football Association said on Tuesday. A brief statement said the Olympique Marseille pair were nursing injuries and that two replacements would be sought at late notice for the trip to the United States. The brothers both played for Marseille in Sunday’s 1-0 loss at Stade Brest, Jordan for the entire 90 minutes and Andre as a substitute for the final half-hour.

Ghana already travel without injured captain John Mensah and forward Asamoah Gyan, who has announced a temporary hiatus from international football in the wake of his penalty miss in the African Nations Cup semi-final earlier this month. -AFP

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Germans eager to subdue France’s Ribery BERLIN: Germany coach Joachim Loew has said his defence will need to keep a close watch on Bayern Munich’s France midfielder Franck Ribery during Wednesday’s friendly international in Bremen.

Ribery produced a superb individual display for Bayern on Sunday, scoring both goals in their 2-0 win over Schalke 04 which left them second in the German league.

The 28-year-old is recapturing his form and he is set to spearhead the French attack at Bremen’s Weserstadion.

“He’s already played well in a huge amount of matches in Germany,” said Loew. “He can dominate the one-on-one situations almost to perfection.

“It wasn’t just against Schalke that he was strong, agile and threatening in front of goal. “Ribery has been one of the key players at Bayern for years.”

Bayer Leverkusen’s Lars Bender has said the German midfield can ill afford to allow Ribery space to attack. “We all know about Franck Ribery and we know he can decide games by himself,” said Bender, whose twin Sven is out injured.

“He’s one of their best players and we will have to be very careful with him if he

gives one of his best performances.”

Both teams are missing key players and France are without attackers Loic Remy of Marseille and Real Madrid’s Karim Benzema.

France coach Laurent Blanc has called up 26-year-old Marseille midfielder Morgan Amalfitano and Tottenham Hotspur’s striker Louis Saha.

Germany are missing five first-choice players. Midfielders Bastian Schweinsteiger, Lukas Podolski and Mario Goetze, plus defender Per Mertesacker have been out for a few weeks, while Loew lost captain Philipp Lahm on Sunday.

Dortmund midfielder Sven Bender has dropped out after being kicked in the face in a league game and because of Lahm’s knee infection, striker Miroslav Klose is likely to captain the side, providing he recovers from a sore back.

Wednesday’s match is the last opportunity for Loew to look at his options ahead of June’s Euro 2012 and he will name his final 23-man squad at the start of May. Germany have been drawn against Denmark, Portugal and the Netherlands, while France are in Group D with England, the Ukraine and Sweden. -AFP

FC Bayern Munich’s Franck Ribery celebrate after he scored against Schalke 04 during

Japan plan blitz to finish top of group

UZBEKISTAN: Japan coach Alberto Zaccheroni plans to throw everything at Uzbekistan in Wednesday’s home World Cup qualifier in a bid to finish top of Group C. The Blue Samurai trail the visitors by three points but boast a vastly superior goal difference with both sides already through to the final round of Asian 2014 qualifying.

Zaccheroni said on Tuesday that the game in Toyota, central Japan, was anything but a dead rubber with top spot and seeding for the final round of qualifying

on the line.

“We want to finish with a win and go through as winners of Group C,” the Italian told reporters. “We have chosen the right players for the job and they are all in great condition.We’ve got the best team available out there and now it’s just a question of getting the best out of them.”

Zaccheroni is set to give 19-year-old Bolton Wanderers winger Ryo Miyaichi his Japan debut.

Miyaichi, who hails from nearby Nagoya and is one of 12 European-based players in the squad, promised

No Kaka for Brazil friendly against Bosnia ST GALLEN, Switzerland: Brazil will take on Bosnia in their first friendly of the year on Wednesday in the Swiss town of St Gallen with Ronaldinho and Neymar in their ranks but without Real Madrid midfielder Kaka. Kaka did play in the final two games of 2011 for the auriverde – wins over Gabon and Egypt -- but while coach Mano Menezes insists he respects the player’s abilities, he said: “I’m not going to give an explanation for every player not selected.”

Menezes wants to go through various permutations in the two years before the five-time world champions host the World Cup, hence he can afford to use Wednesday as a test for some home-based players, including Neymar. Ronaldinho, who is approaching 32, is still showing flashes of his old brilliance with Flamengo and hopes that he is not yet destined for the international

scrapheap. The squad arrived in Switzerland on Sunday and Menezes noted that “Bosnia are a quality rival, who only just missed out on a berth at the Euro 2012 finals”.

The Bosnians, currently ranked 19th in the world, just failed to gain a place in Poland and Ukraine when, having been pipped by France in the group, they lost a two-legged play-off to Portugal. Brazil are currently only seventh in the FIFA standings.

As World Cup hosts, they have no qualifiers to go through and are therefore honing their preparations for 2014 in friendly matches.

There are matches to come later this year against Denmark, the United States, Mexico and Argentina, while they are also targeting a strong Olympic showing in London, having never landed gold to date. -AFP

Spurs shaken but not stirred: Van der Vaart

ENGLAND: Tottenham had “a bad day” against Arsenal on Sunday but have the mental strength to bounce back starting with Manchester United’s visit this weekend, Rafael van der Vaart believes.

Van der Vaart expressed confidence on Monday that Spurs’ can draw a line under the 5-2 loss - his side’s biggest defeat against their north London rivals since 1978 - and secure a coveted third place finish for the first time in 17 years. “This is football and we had a bad day, that’s all, it’s just a game and we lost,” said the Dutch international, who watched Tottenham throw away a two-goal lead at the Emirates to go in level at half-time before coming off the bench during the interval.

“For the fans and for us as players, losing against Arsenal always hurts - but we are still third,” he said.

“We’re still seven points ahead so we’re not worried. It won’t be difficult to lift ourselves. Do we have the mental strength to put this behind us? Of course. Now we

have a big week coming up against Manchester United.

It’s always difficult after the international break but the confidence is there and we showed in the first half that we are still a top team. Manchester United are a strong team and always difficult to beat but we’re playing at home and we always play well at home.”

Tottenham’s only defeat at White Hart Lane came in August, when City crushed them 5-1. Spurs were beset by on and off-field problems at that time and immediately bounced back to win 10 of their next 11 league games, roaring right back into the title race.

Van der Vaart admitted Sunday’s collapse may have been the final nail in the coffin for their challenge.

“Of course, you always hope but Manchester City are winning their games so easily, especially now we have lost, so maybe the title is over,” he said. “Third is our main goal now and I’m really confident we can finish there.” -AFP

to repay Zaccheroni’s faith in him.

Uzbekistan coach Vadim Abramov promised that his young side, weakened by suspensions, would hold their own against Japan.

Five of Abramov’s regular players were found guilty of deliberate time-wasting in an earlier group match in order to serve their suspensions in the Japan game.

“Just because we are missing several key players doesn’t mean we’re going to lose,” he said. “The players selected will be fine at this level.” -AFP

Spain searches for striker in Venezuela clash

BARCELONA, Spain: Spain is searching for a striker to lead the team against Venezuela on Wednesday in its last match before coach Vicente del Bosque names his squad for the European Championship.

With all-time top scorer David Villa injured and struggling Chelsea striker Fernando Torres dropped for the first time in five years, Del Bosque has turned to Athletic Bilbao’s Fernando Llorente and Valencia’s Roberto Soldado for the friendly at La Rosaleda Stadium in Malaga.

Villa and Torres may still make the squad for Euro 2012 in Poland and Ukraine. But if not, Wednesday’s game could be a tryout for a starter come this summer.

Llorente and Soldado have each scored 20 goals in all competitions for their clubs this season, but questions remain over which is the better fit for Spain’s passing game modeled on Barcelona’s style of play.

While Spain is even shorter on strikers after Sevilla’s Alvaro Negredo was ruled out on Monday with a muscle injury, Del Bosque will likely compensate by loading his starting 11 with creative attacking players.

Del Bosque has Barcelona’s Andres Iniesta and Cesc Fabregas, David Silva (Manchester City), Juan Mata (Chelsea) and 19-year-old Bilbao forward Iker Muniain to choose from.

Muniain recently scored both of Bilbao’s goals against Lokomotiv Moscow to set up a meeting with Manchester United in the Europa League.

Besides preparing for this summer, Del Bosque can also set a new record. The former Real Madrid manager is one goal away from matching Javier Clemente as the coach who has guided the national team to the highest number of goals.

Clemente, the current Sporting Gijon coach, saw Spain score 126 goals in 62 games from the sideline.

Spain has scored 125 goals in 51 games since Del Bosque took over following the 2008 European Championship.

After Del Bosque releases his final squad in May, Spain will play a warmup against China and at least one other friendly before heading to the European Championships from June 8-July 1.

Spain opens the tournament against Italy on June 10.

It also plays Ireland and Croatia in Group C. -AP