March 23, 2012

FRIDAY, MARCH 23, 2012

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Issue No. 1382

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Parliament: Government not bound to raise salaries

Joint parliamentary committee assigned to study wage increase draft laws, proposals Staff Writers & Agencies

KUWAIT: After five hours of deliberations during a special Parliament session on salaries, special allowances and strikes, the lawmakers on Thursday made nonbinding recommendations for the government.

The Parliament has assigned a joint parliamentary committee to study draft laws and proposals made by MPs with regard to wage increases and allowances.

The committee is due to submit its report to Parliament within three months.

Additionally, the Parliament agreed on a recommendation that the government should submit a report to lawmakers about the fulfillment of its promises to the Customs and Kuwait Airways workers within two weeks.

Meanwhile, the Minister of Education and Higher Education and acting Minister of Finance Nayef Al-Hajraf stated that Kuwait’s economy is facing ever-increasing challenges that bear down hard on the nation’s budget, requiring both executive and legislative forces to step back and assess objectively the best course to follow to attune the budget realistically with the aspirations of the Kuwaiti people for a prosperous life.

Addressing a special session of the National Assembly, convened to discuss the pressing issue of demands by government employees for salary raises and better job perks, Al-Hajraf noted that to redress the grievances of a large swath of government employees who have recently paralyzed the country with wide scale strikes, it would require a revamping of

the nation’s budget, a firm activation of the role of the private sector in boosting the economy, and a serious treatment of stumbling blocks that stand in the way of a smooth-running economy, among other measures. He reviewed the fiscal state budget for 2012-2013, highlighting in sharp relief the many aspects contributing to its weakness. Aspects such as the continuous rise in the amount of salaries paid to state workers, direct and indirect government subsidies, and decreases in non-oil-based revenues, he said, among other considerations.

Minister Al-Hajraf revealed that the wage of civil servants are estimated at 9324 million Kuwaiti dinars, constituting 42.5 percent of budget expenditure and 66.9 of revenues. He added that direct and indirect subsidies are estimated at KD 5887 million, noting that 73 percent of oil revenues are eaten up by salaries.

Turning to the recent government employees’ rampant strikes that disrupted many of the services the government provides to the public (strikers demanding higher pay), he expressed the government’s dismay at these strikes, though at the same time he acknowledged the strikers’ right to demonstrate their discontent freely. He affirmed that the government was keen on remedying any existent irregularities in the government pay-scale, so as to be fair to all employees. He invited the lawmakers he was addressing to offer the government any pertinent suggestions in that regard, as long as they aimed at instilling justice and equality among all employees of the government.

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Pakistan edge Bangladesh to win Asia Cup final

Amir donates $5 million to restore tsunami-hit Fukushima Kuwait, Japan sign two agreements on investment and academic exchange

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah (center-right) in a group photo, after a meeting with the Head of the Kuwaiti-Japanese Friendship Committee in the Democratic Party of Japan, March 22, 2012. (KUNA)

Mali soldiers say seize power, close borders

BAMAKO: Renegade Malian soldiers went on state television on Thursday to declare they had seized power in protest at the government’s failure to quell a nomad-led rebellion in the north.

The coup has been fronted by soldiers of the rank of captain or lower and, if successful, will add a new layer of insecurity to a Saharan region battling local Al-Qaeda agents and a flood of weapons trafficked from Libya since the fall of Muammar Gaddafi.

The army has for weeks appealed to the government for better weapons to fight the northern Tuareg rebels, now bolstered by heavily-armed ethnic allies who fought on Gaddafi’s side last year but have returned to Mali.

Members of the newly formed National Committee for the Return of Democracy and the Restoration of the State (CNRDR) read a statement after heavy weapons fire rang out around the presidential palace in the capital Bamako throughout the night.

“The CNRDR ... has decided to assume its responsibilities by putting an end to the incompetent regime of Amadou Toumani Toure,” said Lieutenant Amadou Konare, spokesman for the CNRDR. “We promise to hand power back to a democratically elected president as soon as the country is reunified and its integrity is no longer threatened,” Konare, flanked by about two dozen soldiers, said in a statement marred by sound problems.

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French gunman jumps to his death in hail of bullets PAKISTAN: Pakistan’s cricket players celebrate with the champion trophy after winning the final match against Bangladesh at the Asia Cup Cricket Tournament in Dhaka March 22, 2012. Pakistan recorded a thrilling two-run victory over Bangladesh in a dramatic final to take the Asia Cup tournament in Dhaka on Thursday. Paceman Aizaz Cheema grabbed three wickets, while fast bowler Umar Gul and off-spinner Saeed Ajmal each finished with two wickets as Pakistan stopped Bangladesh at 234-8 after scoring 236-9 in the day-night match. Shakib Al Hasan (68) and opener Tamim Iqbal (60) were the main scorers for Bangladesh, who made their maiden appearance in the final of the one-day tournament. (Reuters) see also 19

Portuguese designer becomes ‘hero’ for the colorblind FRANCE: Identifying lines on a color-coded metro map is tricky for those who can’t see some colors. Choosing clothes or telling a green from a red apple can be just as baffling. But the pioneering work of a designer in the northern Portuguese city of Porto means such quandaries may soon pose less of a challenge for the color blind.

Miguel Neiva has spent much of the past decade creating a simple colorcoding system that employs easy-to-memorize symbols for the color blind to distinguish between certain pigments, such as red and green. Though Neiva is not himself color blind, he says childhood experiences formed the basis of his current work. “I had a color-blind friend at primary school who for years was victimized by children like me who mocked him,” says the 42-year-old Neiva, speaking from his studio. About eight percent of the male population has some degree of color vision deficiency, according to several sight associations, whereas less than one percent of women are affected.

Neiva’s so-called ColorADD system is based on primary colors. A diagonal slash symbolizes yellow, while red and blue are represented by triangles pointing in different directions. Different hues can be described by surrounding the symbols with a white or black square.

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Doctors find clue in quest to predict heart attack WASHINGTON: Too often, people pass a cardiac checkup only to collapse with a heart attack days later.

Now scientists have found a clue that one day may help doctors determine if a heart attack is imminent, in hopes of preventing it.

Most heart attacks happen when fatty deposits in an artery burst open, and a blood clot then forms to seal the break. If the clot is too big, it blocks off blood flow.

The problem: Today’s best tests can’t predict when that’s about to happen. “We don’t have a way to get at whether an artery’s going to crack, the precursor to a heart attack,” said Dr. Eric Topol, director of California’s More on 15 Scripps Translational Science Institute.

KUWAIT: His Highness the Amir of Kuwait Sheikh Sabah AlAhmad Al-Jaber Al-Sabah decided to make a fresh contribution to the disaster-stricken Fukushima Prefecture, Undersecretary of the Ministry of Foreign Affairs Khalid Al-Jarallah said on Thursday.

His Highness the Amir reported the decision to Fukushima Governor Yuhei Sato during his meeting at Akasaka Palace in Tokyo with governors of the three hardest-hit prefectures of northeastern Japan and Japan Red Cross Society President Tadateru Konoe. According to Al-Jarallah, the Amir will give two million US dollars to help reconstruction efforts of Fukushima, home to the crippled Fukushima Daiichi nuclear power plant, as well as three million dollars to rebuild the heavily-damaged sea museum “Aquamarine Fukushima”.

Speaking to Kuwait News Agency (KUNA) and Kuwait TV, Fukushima Governor Sato expressed appreciation to His Highness the Amir for his fresh grant to restore the sea-life museum, which was very popular among children in eastern Japan but hit by a magnitude 9.0-quake and ensuring tsunami in March last year.

“The restoration of this popular sea-life museum will become a symbol of revival of Fukushima, as well as the relationship with Kuwait.” Sato also thanked the Amir for the donation of five million barrels of crude oil, value of which was distributed through the Japan Red Cross Society to the three prefectures of Miyagi, Fukushima, and Iwate, which suffer from acute financial difficulties More on 3 following the March catastrophe.

UN chief urges cease-fire in Syria amid fresh clashes BEIRUT: Syrian regime troops and rebels clashed anew on Thursday as UN chief Ban Ki-moon said the Security Council sent a clear message to Damascus that all violence must stop immediately to allow for the delivery of humanitarian aid. Activists said Syrian forces were fighting rebels in the southern province of Daraa, outside of Damascus and in the central city of Hama, where they army was shelling a restive neighborhood. There was no definite word on casualties in Thursday’s clashes. The UN says more than 8,000 people have been killed in the year-old conflict.

Speaking to reporters in Malaysia, Ban said there must be a cease-fire so that humanitarian aid can be dispatched.

The Syrian uprising, which began one year ago, is transforming into an armed insurgency that many fear is pushing the country toward civil war. Because of Syria’s close alliances with Iran and the Lebanese militant group Hezbollah, there are deep concerns that the violence could spread beyond the country’s borders, especially if other nations arm the rebels or send in their

own troops. Ban said Thursday that “nobody is discussing military operations” to resolve the crisis. But he said the Red Cross has proposed a few hours’ halt in violence every day so humanitarian aid can be delivered.

The previously divided UN Security Council sent a united message to the Syrian government and opposition on Wednesday to immediately implement proposals by international envoy Kofi Annan to end the yearlong bloodshed.

A nonbinding statement approved by the 15 council members and read at a formal meeting spells out Annan’s six proposals which include a cease-fire first by the Syrian government, a daily two-hour halt to fighting to evacuate the injured and provide humanitarian aid, and inclusive Syrian-led political talks “to address the legitimate concerns of the Syrian people.”

Annan, the joint UN-Arab League envoy, appealed to the Security Council last Friday for its backing, saying the stronger and more unified the message, the better the chances of shifting the dyMore on 4 namics of the conflict.

Egypt faces ‘major foot-and-mouth outbreak’

CAPITALS: The Food and Agriculture Organization (FAO) on Thursday warned of a major new footand-mouth outbreak in Egypt which could threaten the whole of North Africa and the Middle East.

“Urgent action is required ... to prevent its spread throughout North Africa and the Middle East, which could have serious implications for food security in the region,” the UN agency warned in a statement.

In Egypt, official estimates speak of more than 40,000 suspected cases, with more than 4,600 animals, mostly calves, already dead.

While foot-and-mouth disease has circulated in Egypt for some years “this is an entirely new introduction of a virus strain known as SAT2, and livestock have no immune protection against it,” FAO said.

“With vaccines urgently needed, international and regional organizations are at the ready to assist in

developing a regional prevention, preparedness and action plan,” the organization added.

The UN body said it is working with the government in Egypt to bring the outbreak under control.

“The area around the Lower Nile Delta appears to be severely affected, while other areas in Upper Egypt and the west appear less so,” according to Juan Lubroth, FAO’s Chief Veterinary Officer.

Farmers have been urged to limit animal movement, avoid buying animals, and to burn or bury the carcasses of dead animals.

According to FAO’s livestock census data, 6.3 million buffalo and cattle and 7.5 million sheep and goats are at risk in Egypt.

Vaccines for the new virus strain are currently in limited supply and vaccination often takes up to two weeks to confer immunity, FAO said, while urging anti-contamination measures. -AFP

Hospitalized Kony director suffered brief psychosis: Wife

LONDON: The director of a video calling for the arrest of fugitive Ugandan warlord Joseph Kony suffered from a brief psychosis when he was hospitalized last week in California, the filmmaker’s wife said on Wednesday, the same day an anti-Kony resolution came before the US Senate.

Jason Russell, who directed the 30-minute “Kony 2012” Internet film that went viral earlier this month, was detained by police in San Diego last week after witnesses reported a man in “various stages of undress” who was “acting bizarrely, running into traffic” in public, police said.

“Jason’s incident was in no way the result of drugs or alcohol in his body. The preliminary diagnosis he received is called brief reactive psychosis, an acute state brought on by extreme exhaustion, stress and dehydration,” Russell’s wife, Danica, said in a More on 17 statement.

Arcelor Mittal workers from France, Belgium and Luxembourg hold safety flares during a demonstration, in Florange, eastern France March 22, 2012. (Reuters)

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ALWATAN DAILY

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friDAY, march 23, 2012

Guantanamo detainees case is of high importance to Kuwait, says Minister of Information Jameel W. Karaki Staff Writer

KUWAIT: Sheikh Mohammad Abdullah Al-Mubarak Al-Sabah, Minister of Information, said on Wednesday that the case concerning the Kuwaiti Guantanamo detainees is a major issue for His Highness the Amir and the government, in which he constantly discusses with the American officials and is keen on their release. He described the bilateral relationships between Kuwait and the United States of America as strategic, friendly, historical, and cultural, which is based on mutual respect between the two parties. This statement was given to the press during the celebration of the US National Day on Thursday, at the American Embassy of Kuwait.

Concerning the American soldier accused of killing 16 civilians in Afghanistan and his transit in Kuwait before returning to US, he said that “this issue should be understood within its legislative and legal framework and there is a defense agreement signed between Kuwait and US ... twenty years ago, which allowed the Americans to establish military bases.” He pointed out that they have a military characteristic, where the public laws of entry and exit don’t apply on such agreements.

He added” he came to Kuwait as transit passenger and I don’t think that there is a transport military plane that can fly directly from Afghanistan to The United States of America”.

On his part, Mathew H. Tueller, The American Ambassador to Kuwait said in his speech that “one thing

that strikes me most about Kuwait is the warm hospitality that has been consistently extended to Americans over the last hundred years, beginning with the founding of the Kuwait-American Mission Hospital, now the beautiful Amricani Center”.

Tueller added, “The embassy is focused on strengthening the US-Kuwaiti relationship by opening doors for the people of Kuwait. Our Consular and Public Affairs officers organize events where we advise Kuwaiti students on study options in the United States.” He noted that over 3,000 Kuwaiti students studied in the US last year.

He added, “Our Public Affairs officers plan regular speaker programs in which embassy staff lead discussions with Kuwaiti students on American culture and other topics. We pride ourselves on the efficiency and courtesy with which our Consular Section processed more than 30,000 visa applications for Kuwaitis this past year.”

Regarding the Commercial Services and Economic Sections Tueller explained that they focus on promoting expanded trade with Kuwait booming economy.

Tuller explained that as Kuwait seeks to diversify its economy, US firms will continue to share their expertise, through the Commercial Services section as well as the American Business Council of Kuwait, adding that the presence of so many US businesses and products in Kuwait enables development and diversification of Kuwait’s economy while contributing to the people-to-people ties that must remain the foundation of our relationship.

Kuwait produces drinking water that abides by international standards: Minister KUWAIT: Minister of Electricity and Water and Minister of State for Municipal Affairs Abdulaziz Abdulatif Al-Ibrahim underlined Thursday the efforts exerted to upgrade the quality of drinking water and guarantee that producers abide by international standards and recommendations of the World Health Organization.

In a speech, delivered on his behalf by the Ministry of Electricity and Water’s Undersecretary for Planning and Training Dr. Mishan Al-Otaibi, at a celebration organized in cooperation with Kuwait Scientific Center on the occasion of the World Water Day, Al-Ibrahim estimated Kuwaitis’ water natural resources per capita at 70 cubic meters per year.

“This is much below the water poverty line, estimated at 500 cubic meters per year,” Al-Ibrahim said, adding that “to meet this shortfall, Kuwait has set up several water desalination plants.”

He pointed out that the ministry’s total production of fresh water has grown threefold over the past 20 years, after increasing the production capacity of desalination plants to reach 498 million imperial gallons per day this year.

The minister disclosed that in the next four years, the Northern Al-Zour desalination plant will start production with a capacity of 102 million imperial gallons per day and that the southern Al-Zour desalination plant will add an additional 30 million imperial gallons per day.

Al-Ibrahim, however, warned that water

production represents a growing financial burden, revealing that desalination plants operating costs snowballed in the past years to hit one billion Kuwaiti dinars per year.

“Rationalizing water consumption in Kuwait became a necessity and a shared responsibility between the state and citizens,” he said.

The ministry has taken a number of measures to increase water resources and rationalize consumption, he added.

For his part, Chairman of the Scientific Center Mijbil Al-Mutawa underscored the importance of the partnership with the Ministry of Electricity and Water, particularly in campaigns for raising people’s awareness about the rational use of water.

Al-Mutawa noted that the Scientific Center organizes lectures and workshops on this field attended by specialists from the Ministry of Electricity and Kuwait Institute for Scientific Research and the Kuwait Foundation for the Advancement of Science aimed at prompting the culture of rationalizing water consumption.

International World Water Day is held annually on 22 March as a means of focusing attention on the importance of freshwater and advocating for the sustainable management of freshwater resources.

An international day to celebrate freshwater was recommended at the 1992 United Nations Conference on Environment and Development (UNCED). The General Assembly responded by designating 22 March 1993 as the first World Water Day. -KUNA

Kuwaiti Ambassador to Japan Abdulrahman Al-Otaibi (left) accompanying His Highness the Amir of Kuwait Sheikh Sabah AlAhmad Al-Jaber Al-Sabah (right) in the airport on Tuesday, March 20, 2012. (KUNA)

Malfunction at Ahmadi refinery restored quickly: KNPC KUWAIT: There was an electrical malfunctioning at the southern Shuaiba power plant causing disruption in the flow of electric power feeding most of the units at the Mina Al-Ahmadi refinery, resulting therefore in its shutdown, said an official at Kuwait National Petroleum Company (KNPC), in remarks to Kuwait News Agency (KUNA) Thursday.

Happening earlier this morning, the malfunctioning was dealt with in the usual manner such an emergency calls for, with the utmost emphasis being laid on safety and security of the field workers attending the daily operations of the refinery, said KNPC public relations director Mohammed Al-Ajmi.

The southern Shuaiba refinery comes under the jurisdiction of the ministry of electricity and water, he said, adding that electric power was restored to the refinery units in question half an hour after the power loss. All of the units of the refinery will be operational at normal capacity once the maintenance details are fully taken care of.

Today’s malfunctioning did not in any way disrupt the normal pace of work at KNPC, nor did it cause harm to workers, or damages to the structure of the refinery, or disturb the loading and shipping operations, said Al-Ajmi. -KUNA

Smoking ban in state, private health centers active: Ministry of Health KUWAIT: Kuwait’s Ministry of Health has adopted a smoking ban across all of its buildings and those pertaining to the private sector, Undersecretary Dr. Ibrahim Al-Abdulhadi said on Thursday.

The announcement was made after a circular was distributed amongst ministry staff and private health facilities in the country according to a law earlier passed on the matter.

The decision includes places of primary care, health centers, pharmacies, and clinics in the public and private sectors.

Dr. Al-Abdulhadi stressed the importance of compling with the provisions and ministerial decisions that urge against smoking, adding that inspection committees in places providing health care will be carrying out their role and would be reporting the outcomes of their inspection.

He called officials and employees of health centres to hold accountable whoever breaks these laws and to take full necessary disciplinary measures against them due to the dangerous outcomes of smoking on general health.

-KUNA

Pakistan marks 72nd anniversary of historic resolution KUWAIT: In a press statement marking the 72nd anniversary of Pakistan’s adoption of the historic resolution, the ambassador to Kuwait congratulated all Pakistanis living in Kuwait.

“March 23 is truly remembered as a golden chapter in our history. The day depicts the unmatched determination of the Muslims of the subcontinent and their self-less struggle in pursuit of a separate homeland in which they could live with dignity as an independent Muslim nation,” he said. He added that the day also highlights the role of leadership in achieving great milestones.

“The Muslims of subcontinent were fortunate that they found in Quaid-e-Azam the sagacious leadership which brought them on a single platform and gave them the spirit and unity of purpose required to reach their ultimate destination.

His exemplary courage, statesmanship and dedication to the cause of Muslims of South Asia made it possible for us to be citizens of a free, independent and sovereign Islamic country. One can hardly find another example where one man

single-handedly changed the entire course of history as did the great Quaid. Renowned historian Stanley Walport paid his tributes to Quaid’s leadership in these words; “Few individuals significantly alter the course of history. Fewer still modify the map of the world. Hardly anyone can be credited with creating a nation-state. Muhammad Ali Jinnah did all three.”” The ambassador noted that on this historic day, as Pakistan pays homage to the countless sacrifices of our forefathers. “We should also not forget the golden principles which shaped their lives.

Pakistan Day anniversary calls for reaffirmation of our resolve to follow the democratic ideals of Father of the Nation and rededicate our energies to uphold the principles of constitutionalism, rule of law and tolerance.” “I extend my profound gratitude to Pakistani community whose valuable contribution for the motherland is a source of utmost pride. Let us renew our pledge today to work whole-heartedly and dedicatedly to build a strong and prosperous Pakistan.”

Kuwait’s cultural bureau in Dubai holds annual meeting

Kuwait calls on international community Head calls on the Ministry of Higher Education to increase the financial to aid Yemen with economic challenges allocations for the National Union of Kuwaiti Students KUWAIT: The Cultural Office of the Consulate General of the State of Kuwait in Dubai and Northern Emirates held on Wednesday night an annual ceremony to honor Kuwaiti students in the United Arab Emirates (UAE), Qatar, and Oman.The ceremony was attended

by Ambassador of Kuwait in the UAE Salah Al-Beaijan, Consulate General of the State of Kuwait in Dubai and Northern Emirates Tareq Al-Hamad, advisor in the consulate Khalid Al-Mutairi, Head of the Cultural Office Dr. Saleh Yassin, and Cultural Attaché Dr. Osama Al-Yousif, Higher Education Undersecretary Khaled Al-Saad, Chairman of educational committee in the Kuwait National Assembly Members of Parliament (MP) Dr. Assembly Jamaan Al-Harbash, former MP and member of the educational committee Dr. Hassan Johar. Kuwait represented by the Ministry of Higher Education and Cultural Office is keen on providing the students with all support, Al-Saad said. He congratulated the honored students on their educational excellence, praising them to keep it up.

Dr. Yassin described the students as the leaders of the future who would work to serve their country. He stressed on the importance of meeting senior officials of universities in the UAE in which Kuwaiti students peruse their studies. He stressed high quality education as a main pillar of the development of Nations. Officials in the UAE encourage all universities in their country to obtain academic accreditation, he added.

The UAE has a large number of prestigious universities, which work in cooperation with elite academic institutions abroad. Kuwait should consider offering students schol-

Kuwaiti students studying in the in the United Arab Emirates (UAE), Qatar, and Oman are seen in a group photo during a ceremony held to honor them on Wednesday, March 21, 2012. (KUNA)

arships in such colleges, to offer them a wider variety of choices, Dr. Yassin said.

A number of administrative decisions related to Kuwaiti students in the UAE should be reviewed, including the limit of 50 scholarships only in each college. He suggested forming a committee of professors of law to evaluate academic programs of colleges, in order to take the proper decision on that matter.

Dr. Yassin called on the Ministry of Higher Education to increase the financial allocations for the National Union of Kuwaiti Students, besides offering scholarships in academically accredited universities in the UAE, Qatar, and Oman. The head of the National Union of Kuwait Students (NUKS), UAE Branch, Khalifa Al-Yagout hailed the Cultural Office effort and its organization of this event, and highlighted the achievements NUKS realized for the students including health insurance, increase in financial allowance, discounts on

airline tickets, as well as organizing events and festivals. He also called on officials at the ministry to solve the 50 students per college problem, by canceling this limitation. He requested an increase in the budget of NUKSUAE, which is only 5,000 Kuwaiti dinars, being the least compared to other branches, and which does not meet the needs of the union.

A seminar was later held between Dr Jamaan Al-Harbash and Dr.Hassan Johar discussing educational matters.

The participants said that educational affairs should not only be handled by the parliament, but should also be a part of the country’s development plan, sponsored by both the political leadership and experts in the field. The two figures also called for establishing new universities in Kuwait, criticizing the delay in taking this vital step. They agreed on the importance of solving the 50-scholarships dilemma. -KUNA

GENEVA: Kuwait called on the international community at the Human Rights Council to assist and aid Yemen in overcoming its economic challenges, in the peak of its political transition as well as understanding Yemen’s situation on human rights issues. Malek Hussein Al-Wazzan, an advisor of the permanent Kuwaiti mission at the UN in Geneva, while addressing the 19th session of the United Nations Human Rights Council (UNHRC), said that Kuwait emphasizes the unity, security and stability in Yemen.

He added that Kuwait welcomes the completion of the political process in Yemen according to Gulf Cooperation Council (GCC) initiative, as well as praising the cooperation with the UN and Human Rights Council. Al-Wazzan called on the

mission of the high commissioner to visit Yemen.

At the same time, Kuwait accepted Yemen’s recommendations of the High Commissioner for Human rights to this country and praised the Human Rights Council recent decisions on the matter, which calls on the Yemeni government to open an office of the High Commissioner for Human Rights in Yemen.

Meanwhile, the Human Rights Council in its current session discussed technical assistance to Yemen and improving the field of human rights in accordance with the council’s decision to develop a framework for nonstop dialogue as well as strengthening cooperation in the field of human rights, with the support of the international community. -KUNA

Parliament says Government not bound to raise salaries continued from page 1

In their reactions, MP Dr. Hamad Al-Matar accused the government of misleading the MPs with the figures it announces. “We need a government that offers initiatives, not a reactive one,” the MP said, while calling for the rationalization of Cabinet ministers’ salaries.

MP Musallam Al-Barrak said that the session was a warning for the government, saying that the lawmakers will not allow the government to describe strikes as chaotic. “The government has to change its course of action or else we will play our role,” the lawmaker cautioned.

For his part, MP Adnan Abdulsamad blamed

the government for the strikes, saying that it encouraged labor action for discriminately increasing wages. The MP, who heads the Parliamentary Budget Committee, revealed that salaries will reach about KD 16,446 million.

MP Al-Deqbasi described the Civil Service Council as unstable, while claiming that some ministers allocate to themselves allowances up to KD 200,000.

Meanwhile, MP Jamaan Al-Harbash challenged the government to announce the salaries of Cabinet ministers and the bonuses they receive. He added that while the government wastefully spends public funds it is aloof to the issue of salaries.

ALWATAN DAILY

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Amir donates $5 million to restore tsunami-hit Fukushima

His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Sabah with Japanese Prime Minister Yoshihiko Noda on Thursday, March 22, 2012. (KUNA)

Kuwait, Japan sign two agreements on investment and academic exchange

KUWAIT: His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah decided to make a fresh contribution to the disaster-stricken Fukushima Prefecture, Undersecretary of the Ministry of Foreign Affairs Khalid Al-Jarallah said on Thursday.

His Highness the Amir reported the decision to Fukushima Governor Yuhei Sato during his meeting at Akasaka Palace in Tokyo with governors of the three hardest-hit prefectures of northeastern Japan and Japan Red Cross Society President Tadateru Konoe. According to Al-Jarallah, the Amir will give two million US dollars to help reconstruction efforts of Fukushima, home to the crippled Fukushima Daiichi nuclear power plant, as well as three million dollars to rebuild the heavily-damaged sea museum “Aquamarine Fukushima.” Speaking to Kuwait News Agency (KUNA) and Kuwait TV,

Fukushima Governor Sato expressed appreciation to His Highness the Amir for his fresh grant to restore the sea-life museum, which was very popular among children in eastern Japan but hit by a magnitude 9.0-quake and ensuring tsunami in March last year. “The restoration of this popular sea-life museum will become a symbol of revival of Fukushima, as well as the relationship with Kuwait.” Sato also thanked the Amir for the donation of five million barrels of crude oil, value of which was distributed through the Japan Red Cross Society to the three prefectures of Miyagi, Fukushima, and Iwate, which suffer from acute financial difficulties following the March catastrophe. Kuwait’s generous donation was sent upon directives of His Highness the Amir following the March 11 disasters that left more than 19,000 people dead or missing in the Northeastern region.

For his part, Iwate Governor Takuya Tasso said, “During the meeting with His Highness the Amir, I thanked him and the Kuwaiti people for their support and generosity, especially the free oil.” Tasso said that the 8.4 billion Japanese yen ($101 million), his prefecture’s allocated share of the Kuwaiti donation, has been used

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah during a meeting with the head of the Kuwaiti-Japanese Friendship Committee in the Democratic Party of Japan, March 22, 2012. (KUNA)

for various reconstruction projects, including financial assistance for survivors and rehabilitation of agriculture and fishery industries. “With Kuwait’s aid, we will also be able to restore the severely-damaged Sanriku Railway’s railroads and a train station, and purchase new trains,” Tasso said, adding that a memorial will be built at the railway station to mark the Kuwaiti contribution to its rebuilding.

“The people in Iwate Prefecture are deeply grateful for the Kuwaiti assistance,” the governor said, expressing keenness to promote the relations between Kuwait and his prefecture.

Kuwait’s gift of five million barrels of crude oil was the largest contribution to Japan by any country in this critical period. According to Konoe, who doubles as President of International Federation of Red Cross and Red Crescent Societies, the donated oil was already delivered to four Japanese refiners late last year. In order to implement visible assistance, the Japan Red Cross Society established a relief fund with money to the value of the free oil worth some $550 million. The aid covers eight areas, such as infrastructure recovery, support for medical care, education, employment, and agriculture in

the three hardest-hit prefectures. On Thursday, the Amir Sheikh Sabah Al-Ahmad Al-Jaber AlSabah and the delegation accompanying him visited the Japanese Prime Minister Yoshihiko Noda at the Cabinet’s headquarters in Tokyo.

Official talks commenced, where the Amir led the Kuwaiti delegation and Noda headed his country’s delegation. During the encounter, both parties discussed ways to strengthen the special relations between Kuwait and Japan in various fields, and to serve their common interests as well as strengthening the existing cooperation between the two countries.

They also exchanged a number of issues of mutual interest and latest developments on the regional and international arenas. Friendly relations between both countries’ people were reflected during the encounter, which portrayed the depth of understanding and friendship that characterized the good relations.

Meanwhile, member of Japan’s Liberal Democratic Party and Head of the Kuwait-Japan Friendship Committee Masahiko Komura lauded the Kuwaiti leadership for an ongoing and steady supply of oil to Japan.

After a meeting with His Highness the

Amir arrives to Philippines, diplomats mark it as ‘historical’ MANILA: His Highness the Amir Sheikh Sabah AlAhmad Al-Jaber is scheduled arrived in the Philippines on an official visit aimed at strengthening relations between the two countries, according to local reports on Thursday.

On Thursday, His Highness Sheikh Sabah arrived at Ninoy Aquino International Airport on board a Kuwait Government Aircraft B747-400, the Philippines News Agency (PNA) reported, noting that Sheikh Sabah was welcomed

by Foreign Affairs Secretary Albert del Rosario, Energy Secretary Jose Rene Almendras, Philippine Ambassador to State of Kuwait Shulan Primavera, Manila International Airport Authority General Manager Jose Angel Honrado and Pasay City Mayor Antonino Calixto.

After his arrival, the Amir proceeded to the Rizal Park for a wreath-laying ceremony and will depart for Malacanang Palace for a welcome ceremony, PNA said.

Following the welcoming ceremony, Sheikh Sabah paid a courtesy call on President Benigno S. Aquino III at the Music Room of the Malacanang Palace. After the courtesy call, an expanded bilateral meeting was held between the two leaders, the agency said.

President Aquino and Sheikh Sabah witnessed the signing of several bilateral agreements between the two countries following their bilateral meeting.

In the evening, the President hosted a State Dinner for the Amir of Kuwait at Malacanang’s Rizal Hall.

Kuwait’s Ambassador to the Philippines held a dinner in honor of Sheikh Sabah during the second day of his state visit. The Amir is also scheduled to visit Tagaytay Highlands on the third day of his visit.

The Amir on Friday will proceed to Clark Export Processing Zone to unveil the marker for the Sabah Al-Ahmad Global Gateway Logistics City. He will depart for Kuwait after the Clark event.

Among the agreements to be signed by the two countries include a Memorandum of Understanding on Agricultural and Fisheries Cooperation, an Agreement on the Waiver of Visa Requirements for Holders of Diplomatic, Special and Official Passports, an Executive Program for the Cultural Agreement for the Years 2012-2014, a Memorandum of Understanding on Cooperation in the Recruitment and Employment of Filipino Household Service Workers, and a Memorandum of Understanding in the

Field of Labor Cooperation.

The signatories for the Filipino side will be Foreign Affairs Secretary Albert del Rosario, Agriculture Secretary Proceso Alcala, Labor Secretary Rosalinda Baldoz, and National Commission on Culture and the Arts Chairman Felipe de Leon.

For the Kuwait government, the signatories will include Deputy Prime Minister and Minister of Foreign Affairs and Minister of State for Cabinet Affairs Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah.

Kuwaiti Ambassador to the Philippines Waleed Ahmad Al-Kandari lauded the official and historical visit of His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah to the Southeast Asian country due on Friday. Al-Kandari told Kuwait News Agency (KUNA), on Thursday, that this visit conforms to the ever developing relations between Kuwait and the Philippines, especially since the two countries share the same interest of a prevailing world peace.

The two leaderships always strive to promote political and economic ties to achieve their best interests, the Kuwaiti diplomat said. The Philippines government lauded the upcoming visit of His Highness the Amir of Kuwait, particularly since it will be the first official visit made not only by a Kuwaiti Amir but also as a Gulf ruler.

The Philippines government also expressed appreciation to the financial and humanitarian aid offered by Kuwait in time of crisis; especially to the victims of floods and hurricanes. The last Kuwaiti donation to this Southeast Asian country was given in February of one million US dollars after an island was hit by a tropical storm.

Kuwait also a major work attraction to more than 130,000 Philippines currently working in the country, AlKandari pointed out.

He further said that the government of the Philippines praises the role played by the Kuwait Fund for Arab Economic Development in setting up vital projects in the country. The Kuwaiti diplomat noted that the Amir’s visit to the Philippines is upon the invitation of the Philippines president Benigno Aquino III. It aims at further strengthen ties between the two countries.

In addition, Philippines’ Department of Trade and Industry’s Public Relations Office Director Thelma Dumpit-

Murillo said that the Amir’s visit to the Philippines reflects the “excellent” relations attained by the two countries.

She told KUNA, on Thursday, “There are good relations between Kuwait and the Philippines, especially strengthened after the Joint Trade Committee Meeting (JTCM) held in Manila, last December 19-21, 2009.

During the JTCM, the governments of Philippines and Kuwait agreed to expand bilateral trade and investments by exploring ways to improve business relations and ease the flow of goods, services, and investments between the two countries, she added.

She further noted that Kuwait is one of the major markets for Philippines’ Food products in the Gulf Cooperation Council (GCC). In November 2011, Kuwait was one of the four countries in the Middle East visited by a business delegation from the Philippines for a Food Selling Mission.

Kuwait is considered a strategic market as it serves as an entry point for food products to some parts of Saudi Arabia and Iraq. The Philippines can be Kuwait’s partner in their food security program. She pointed out that after the Kuwaiti government announcement of a five-year $142 billion dollars infrastructure development plan which has began in 2010, doors of opportunities has opened for outsourcing to the Philippines, particularly in engineering and information technology (IT).

Aside from outsourcing services, furniture and furnishings for hospitality and office building projects can also be sourced in the Philippines.

The Philippines is an attractive investment destination for Kuwait and other GCC countries as they move towards diversification of their businesses. The Philippines offers investment opportunities in real estate, agriculture, tourism, energy and infrastructure. Major Kuwaiti companies like KGL and KCCI have already invested in the Philippines. The upcoming visit of His Highness the Amir of Kuwait will certainly open new doors of opportunities and will definitely strengthen the ties between the two countries, she said.

The Philippines is ready to present investment opportunities and organize a trade and investment matching program should a business delegation join the Amir in His visit, she concluded. -KUNA

Kuwait calls for progress on political track to resolve Palestine question

KUWAIT: A meeting of the donor coordination group for the Palestinian people, known as the Ad-Hoc Liaison Committee (AHLC), concluded in Brussels on Wednesday night by expressing concerns over the economic situation of the Palestinian Authority and over the future of the peace process.

“Kuwait is a major donor of Palestinian Authority. The Palestinian Authority is in desperate need for money to continue their economic plans. Our message was that Kuwait will maintain its support to the Palestinian Authority. We will not retreat and we will fulfill our commitment,” Ambassador Jasem Al-Mubaraki, director of International Organization Department at Kuwait’s foreign ministry, told Kuwait News Agency (KUNA). Al-Mubaraki, who represented Kuwait at the one-day meeting, said, “We want to see that progress is made on the political track and this requires Israel to stop its settlement policy and we must have a timetable for negotiations between the Palestinians and the Israelis.” He noted that the meeting focused on financial and economic issues. Most of the countries reaffirmed their support to the Palestinian Authority, he

added. AHLC’s annual spring meeting was hosted by European Union (EU) High Representative Catherine Ashton, and presided over by Norwegian Foreign Minister Jonas Gahr Store in his capacity as chair of the AHLC. Salam Fayyad, Prime Minister of the Palestinian Authority, and Tony Blair, the Quartet’s Representative, also attended the meeting.

Store told journalists after the meeting that “We are meeting in a very difficult situation in the political context. The peace process in terms of negotiations on the final status is stalled and the prospect of Israelis and Palestinians getting together to negotiate the twostate solution do not look very optimistic.” He said the financial situation of the Palestinian Authority is “in critical state” for two reasons, firstly because the growth of the Palestinian economy is limited by Israeli occupation and secondly that donors due to financial crisis and for other reasons are not living up to the pledges and expectations.

“We need to double efforts here for donor mobilization and we need a clear easing of Israeli restrictions

on Israeli economy,” stressed the Norwegian minister.

“Were there to be a Palestinian state, the Palestinians would need no donors because they would run a very prosperous economy,” he added.

On his part, Fayyad told journalists that “we are looking for 950 million US dollars to help us bridge the gap for our current operations.” “The reason we are facing financial difficulty is a shortfall in financing related to program assistance. We need to see greater effort to help us bridge the gap,” added Fayyad. The AHLC in a statement called on donors to ensure the contribution of one billion dollars in assistance to meet the recurrent financing requirements for the PA in 2012.

The AHLC expressed concern for the situation in the Gaza Strip and reiterated its full commitment to the UN Security Council resolution 1860, including for the need for security for all civil populations.

Since its establishment in 1993 the AHLC has served as the principal policy-level coordination mechanism for development assistance to the Palestinian people. -KUNA

Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah at Akasaka Palace, a state guesthouse, Komura said that he expressed his appreciation, in person, to His Highness the Amir for the five million barrels of oil he gave to Japan when a major earthquake struck the country in March 2011. In addition, two agreements were signed between Kuwait and Japan to encourage investment and to promote academic exchange.

The two agreements were signed in the attendance of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and Japan’s Prime Minister Yoshihiko Noda. One agreement dealt with encouraging and protecting investments. It was signed by Kuwait’s Undersecretary of Foreign Ministry Khalid Sulaiman Al-Jarrallah and Japan’s Parliamentary Senior Vice-Minister for Foreign Affairs Ryuji Yamane.

The other agreement was related to exchanging academic expertise between Kuwait Institute for Scientific Research (KISR) and Japan’s Advanced Institute for Materials Research at the Tohoku University. It was signed by KISR Director Dr. Naji Al-Mutairi and Tohoku Unversity’s Director of the research center. -KUNA

Government to fund KD 13.5 million nanotechnology center

TOKYO: The main purpose of the academic exchange agreement between Kuwait Institute for Scientific Research (KISR) and Japan’s Advanced Institute for Materials Research at the Tohoku University is to coordinate research activities, KISR Director General Dr. Naji Al-Mutairi said here Thursday. In statements to Kuwait News Agency (KUNA) after signing the agreement earlier Thursday, Dr. Al-Mutairi said that such coordination would include projects executed by KISR, in addition to joint projects with the Japanese Institute, most significant of which are the ones on renewable energy and exchanging expertise. “This cooperation will support KISR’s endeavor to establish a 13.5 million Kuwait Dinars nanotechnology center that is to be funded by the Kuwaiti Government,” he noted.

Al-Mutairi also pointed out to KISR’s cooperation with the Japan Petroleum Institute, which notably contributed to enhancing KISR’s capabilities in many oil-related domains in Kuwait, like oil-refining industry, addressing the problems of corrosion and stimulus operations, as well as biological treatment of the soil. Up until 2011, some 31 joint research projects were executed in many oil and environmental fields between Kuwait and Japan, the official noted. KISR was established in 1967 by the Arabian Oil Company Limited (Japan) in fulfillment of its obligations under the oil concession agreement with the Kuwaiti Government. The Institute was established to carry out applied scientific research in three fields: petroleum, desert agriculture and marine biology. -KUNA

4

ALWATAN DAILY

regional

friDAY, march 23, 2012

UN chief urges cease-fire in Syria amid fresh clashes BEIRUT: Syrian regime troops and rebels clashed anew on Thursday as UN chief Ban Ki-moon said the Security Council sent a clear message to Damascus that all violence must stop immediately to allow for the delivery of humanitarian aid. Activists said Syrian forces were fighting rebels in the southern province of Daraa, outside of Damascus and in the central city of Hama, where they army was shelling a restive neighborhood.

There was no definite word on casualties in Thursday’s clashes. The UN says more than 8,000 people have been killed in the year-old conflict.

Speaking to reporters in Malaysia, Ban said there must be a cease-fire so that humanitarian aid can be dispatched.

The Syrian uprising, which began one year ago, is transforming into an armed insurgency that many fear is pushing the country toward civil war. Because of Syria’s close alliances with Iran and the Lebanese militant group Hezbollah, there are deep concerns that the violence could spread beyond the country’s borders, especially if other nations arm the rebels or send in their own troops.

Ban said Thursday that “nobody is discussing military operations” to resolve the crisis. But he said the Red Cross has proposed a few hours’ halt in violence every day so humanitarian aid can be delivered.

The previously divided UN Security Council sent a united message to the Syrian government and opposition on Wednesday to immediately implement proposals by international envoy Kofi Annan to end the yearlong bloodshed.

A nonbinding statement approved by the 15 council members and read at a formal meeting spells out Annan’s six proposals which include a cease-fire first by the Syrian government, a daily two-hour halt to fighting to evacuate the injured and provide humanitarian aid, and inclusive Syrian-led political talks “to address the legitimate con-

Syrian army tanks are seen in Deir El-Zour city, Syria, on March 21, 2012. (Reuters)

cerns of the Syrian people.”

Annan, the joint UN-Arab League envoy, appealed to the Security Council last Friday for its backing, saying the stronger and more unified the message, the better the chances of shifting the dynamics of the conflict.

Riyadh eases ban on single men in shopping malls RIYADH: Single men in Riyadh will be able to visit shopping malls during peak hours after a Saudi prince eased restrictions aimed at stopping harassment of women, media reports said Thursday.

Prince Sattam bin Abdulaziz, Riyadh’s governor, has decided “not to prevent any single men from visiting malls” in the capital on evenings and weekends, when malls are most crowded, Al-Riyadh newspaper reported.

The decision was made by a committee made up of local officials and representatives from the feared religious police, said the daily.

Shopping malls are a favorite leisure destination for young men and women in the ultra-conservative kingdom, where cinemas and theaters are banned.

Previously, single men were only allowed into shopping centers at lunch time on weekdays, a move the authorities said was intended to prevent women being harassed during peak hours.

But that had “many negative consequences, including the gathering of men outside the shopping malls and harassing women there,” the daily reported, according to the committee.

Saudi Arabia imposes a strict segregation-of-sexes policy.

The appointment of Sheikh Abdullatif Abdel Aziz Al-Sheikh, a moderate, to head the Saudi religious police has raised hopes a more lenient force will ease draconian social constraints, including the prohibition of mixing between sexes. -AFP

Britain’s UN Ambassador Mark Lyall Grant, the current council president, said the council statement sends “precisely the strong and united message to the Syrian government and all other actors in Syria that they need to respond, and respond quickly and immediately, to the six-

point plan.” In a bid to win support from Russia and China, which have twice vetoed European and US-backed resolutions condemning President Bashar Al-Assad’s crackdown on protesters, France watered down the statement to eliminate possible consideration of “further measures” which could include sanctions or military action.

Instead, the presidential statement now asks Annan to update the council regularly on the progress of his mission and says that “in the light of these reports, the Security Council will consider further steps as appropriate.”

A presidential statement, which needs approval from all council members, becomes part of the council’s permanent record. It is stronger than a press statement, which does not. But unlike resolutions, neither statement is legally binding.

Russia and China had called the earlier resolutions unbalanced, saying they only blamed the Syrian government and demanded an end to government attacks, not ones by the opposition. Moscow also argued that the resolutions promoted regime change in Syria and expressed fear of outside intervention to support the rebels, as happened in Libya. Syria’s state-run news agency, SANA, played down the UN statement, saying on Thursday that there are no threats or ultimatums directed toward Damascus. The agency’s assessment echoed an earlier statement by Syrian ally Russia.

The Britain-based Syrian Observatory for Human Rights said a number of civilians were wounded in government shelling of the Arbaeen neighborhood in the central city of Hama, where rebels were fighting back.

A rebel attack on an army convoy in the in the southern Daraa province killed one soldier, the group said.

Another group, the Local Coordination Committees, reported clashes in the southern village of Nawa and in the mountain town of Zabadani, northwest of Damascus. -AP

Bahrain police install cameras to curb abuse MANAMA: Bahrain is installing video cameras in police stations to try to clean up its human rights image after crushing a pro-democracy uprising last year, but activists say offcamera abuse continues in other locations.

At Al-Hoora station in Manama, closed circuit television will record police interrogations in rooms with padded grey walls. Rooms without cameras are set aside for detainees to consult lawyers. Other areas of the station are also monitored.

“We chose the color grey because it’s an international standard and it calms people. Anyone in a state of violence has to be calmed down,” said Brigadier Mansour Alhajeri, a police officer conducting a tour for journalists.

He said seven other stations were now being fitted with the monitoring system and all 33 stations would be covered

by October.

But the cameras, introduced after an inquiry led by international jurists uncovered five deaths under torture last year, will not be installed in at least five riot police bases where activists say youths have been beaten.

“They don’t detain anyone, any arrests will be handed over to police,” police chief Tareq Al-Hassan said when about the absence of cameras in the bases from where riot police using jeeps and armored vehicles move to handle protests.

-Reuters

Iraq insists VP’s dead bodyguard not tortured BAGHDAD: Claims by Iraq’s fugitive Sunni vice president that his bodyguard was tortured while in custody were denied on Thursday by authorities, who insisted he died of kidney failure. Amir Sarbut Zaidan AlBatawi died earlier this month and his body was handed over to his family, with Vice President Tareq Al-Hashemi, wanted by Baghdad on terror charges, releasing photographs he said showed the 33-year-old married father-ofthree was tortured. A senior Iraqi general and a judicial spokesman, however, said Al-Batawi died of kidney failure and other conditions after refusing treatment.

“He died because he had a serious disease in his kidney, and he refused to be tested and to be treated,” Lieutenant General Hassan Al-Baydhani, chief of staff of Baghdad’s security command centre, told AFP on Thursday. Asked about Al-Hashemi’s claims of holding photographic evidence of Al-Batawi suffering torture, Al-Baydhani replied, “It is easy for Photoshop to show anything,” referring to a popular digital photo editing software. Higher Judicial Council spokesman Abdelsattar Birakdar added that Al-Batawi was regularly examined by doctors at multiple Baghdad hospitals and in the prison where he was being held.

Birakdar said investigators filmed Al-Batawi confessing to criminal activity on January 14, but declined

to give specifics, and said he was involved in no further inquiries afterwards. “The deceased’s corpse was sent to the morgue for an autopsy to state the cause of death,” he said in a statement. “The initial autopsy showed the cause of death to be extreme diarrhea, reduction in blood pressure, and kidney failure.”

Al-Hashemi released a statement on Wednesday in which he said Al-Batawi had died and his body was handed to his family on March 18, around three months after his initial arrest.

“There were signs of torture in several parts of his body, including several sensitive places, a cause of savage methods used on him during the investigation,” the statement said.

Birakdar said the body was transferred on March 20.

It was unclear what was behind the discrepancy.

In December, shortly after US troops completed their withdrawal from Iraq, the country’s Shiite-led authorities issued an arrest warrant for Al-Hashemi, a Sunni, on terror charges, sparking a protracted political cr6isis. Al-Hashemi, who has remained in Iraq’s autonomous Kurdistan region for the duration of the row, says the allegations are politically-motivated and Kurdish officials have refused to hand him over to the central government. -AFP

Palestinians urge donors to provide promised funds GAZA: Palestinian premier Salam Fayyad on Thursday urged donors to hastily provide promised funds to help the Palestinian Authority weather a financial crisis.

Speaking a day after a meeting of international donors in Brussels, known as the Ad Hoc Liaison Committee, Fayyad said the monies were crucial to help the Ramallah-based Palestinian Authority to meet its obligations. At the close of the meeting, Norwegian Foreign Minister Jonas Gahr Stoere who chairs the committee, urged supporters “to ensure the contribution of 1 billion US dollars (760 million euros) in assistance” in 2012 and urged Israel to facilitate the transfer of tax monies due to the Palestinian Authority.

“What is more important is that this money, or at least part of it, is transferred as quickly as possible so the Palestinian Authority can deal with its difficult financial crisis,” Fayyad told the official Voice of Palestine radio.

The European Union had pledged 155 million euros ($204 million) and the United States was working to complete its allocations for 2011.

“What is equally important is funding from the Arab countries,” said Fayyad.

“Funding from the region is crucial. Until now, all we have received from the Arab countries in 2012 is

$32 million (24 million euros) from Qatar, which we are grateful for but we need much more,” he said.

“The Palestinian Authority depends on its tax revenues in addition to financial aid in order to fulfill its obligations, including salaries. If the aid doesn’t come through... it will seriously hinder the Palestinian Authority from fulfilling its obligations.”

In its closing statement, the committee referred to the need for “burden sharing” between the donor nations. It also hailed a technical agreement between the Israeli and Palestinian finance ministries to make the collection of tax monies “more efficient and transparent” and urged a “swift conclusion and implementation” of the deal.

And it called on Israel “to facilitate sustainable growth of the Palestinian economy... by taking further steps to improve movement of people and goods, development, and trade and exports” in the West Bank and Gaza, as well as in east Jerusalem.

The World Bank, the International Monetary Fund and the United Nations have all expressed concern over the budgetary problems difficulties being faced by the Palestinian Authority as a result of Israeli restrictions.

-AFP

Ethiopian migrants shelter from the sun under a tree during their journey from the Red Sea Yemeni town of Medi to Haradh town, on the border with Saudi Arabia March 22, 2012. Some 12,000 migrants, mostly from the Horn of Africa, are stranded in Haradh, which they use as a stepping stone to reach Saudi Arabia, according to the International Organization for Migration (IOM). (Reuters)

Libya vows trial for Gadhafi spy chief before polls TRIPOLI: Libya’s new rulers, under pressure from human rights groups, have vowed to put on trial Muammar Gadhafi’s former spy chief before June elections if Mauritania extradites him as expected.

Fathi Baaja of the National Transitional Council said that trials of Gadhafi loyalists have so far lagged in Libya due to inadequate prison infrastructure and a paralyzed judiciary.

“If Abdullah Al-Senoussi is extradited to Libya, his trial and that of (Gadhafi son) Seif Al-Islam will be held in the near future and before the general election” scheduled for June, said Baaja.

“The preparations are now on track,” he said.

Mauritania said Wednesday it has yet to make a decision on the extradition of Al-Senoussi, who was arrested at Nouakchott airport last week and is also wanted

by France and the International Criminal Court.

Earlier, the Libyan government said his handover was a done deal after meetings with Mauritanian President Mohamed Ould Abdel Aziz.

In a statement to AFP, Libya’s interim prime minister,Adbel Rahim Al-Keib, said the authorities “will start trials of officials of the old regime as soon as possible.”

“We reassure the people of Libya and the international community that Libya will soon judge those who committed crimes against the people,” said Al-Keib, adding they would be guaranteed fair trials.

In a mobile phone message, general prosecutor Abdelaziz Al-Hasadi called on Libyans to give evidence on allegations against former Gadhafi regime officials and collaborators for them to be brought to justice as soon as possible.

Tripoli has come in for strong criticism from international human rights groups for the way its justice system is dealing with Gadhafi loyalists, including accusations of prisoners being tortured.

Several officials of the ousted regime and hundreds of loyalists, both military and civilians, have languished for months in prison, many of under the control of armed brigades that fought the regime.

“More than 3,000 Gadhafi supporters are in the prisons of Misrata where they are awaiting trial,” said Suleiman Al-Fortia, the NTC’s representative in the western city.

Al-Senoussi is wanted by the International Criminal Court for crimes against humanity allegedly committed during last year’s revolt that ousted Gadhafi. Seif Al-

Islam, the late strongman’s most prominent son, has been held in Libya since his arrest in November.

Ahmed Jehani,Tripoli’s representative at the ICC, said The Hague-based court has been putting “pressure on Libya to begin the trial of Seif Al-Islam or to hand him over” to the tribunal.

NTC Vice President Aknan Salem said that, for safety reasons, the authorities wanted to ensure they had the facilities that could serve as both a prison and court.

“We are now able to equip two locations in Tripoli and (the eastern city of) Benghazi where Gadhafi’s loyalists will be transferred,” he said.

At the same time, the authorities were also trying to close the net around fugitive Gadhafi family members and former officials of his regime, said Aknan.

“We are issuing arrest warrants against fugitives and asked all the brotherly and neighboring countries ... to deliver them to us,” he added.

Libya’s general prosecutor has sent his counterpart in Cairo a list of Gadhafi loyalists wanted by his office and thought to have taken refuge in Egypt, which says it has begun negotiations for their handover. -AFP

ALWATAN DAILY

WORLD

fridAY, march 23, 2012

Renegade Mali soldiers say seize power, depose Toure “The CNRDR ... has decided to assume its responsibilities by putting an end to the incompetent regime of the civilian government”

BAMAKO: Renegade Malian soldiers went on state television on Thursday to declare they had seized power in protest at the government’s failure to quell a nomad-led rebellion in the north.

The coup has been fronted by soldiers of the rank of captain or lower and, if successful, will add a new layer of insecurity to a Saharan region battling local Al-Qaeda agents and a flood of weapons trafficked from Libya since the fall of Muammar Gadhafi.

The army has for weeks appealed to the government for better weapons to fight the northern Tuareg rebels, now bolstered by heavily-armed ethnic allies who fought on Gadhafi’s side last year but have returned to Mali.

Members of the newly formed National Committee for the Return of Democracy and the Restoration of the State (CNRDR) read a statement after heavy weapons fire rang out around the presidential palace in the capital Bamako throughout the night.

“The CNRDR ... has decided to assume its responsibilities by putting an end to the incompetent regime of Amadou Toumani Toure,” said Lieutenant Amadou Konare, spokesman for the CNRDR. “We promise to hand power back to a democratically elected president as soon as the country is reunified and its integrity is no longer threatened,” Konare, flanked by about two dozen soldiers, said in a statement marred by sound problems.

A subsequent statement by Captain Amadou Sanogo, described as president of the CNRDR, declared an immediate curfew “until further notice”.

Government and military sources told Reuters the mutineers entered the presidential palace overnight after it was vacated by Toure and his entourage. The current whereabouts of Toure - a 63-year-old former coup leader who was due to step down after April polls - were unknown.

5

NEWS IN BRIEF Thai drug cops arrested for trafficking BANGKOK: Four Thai policemen have been arrested after they seized narcotics worth 1 million US dollars in raids on drug gangs and kept them to sell themselves, senior police said. The four were arrested late Tuesday on the outskirts of Bangkok with 305,200 methamphetamine tablets and five kilograms (11 pounds) of “ice” worth 30 million baht ($1 million) in total. “Four policemen and one civilian were charged with trafficking of illicit drugs,” Bangkok Metropolitan Police commander Lieutenant General Winai Thongsong told a news conference Wednesday. -AFP

Afghan corpse video shows US depravity

A file picture dated Nov. 16, 2009 shows President of Mali Amadou Toumani Toure delivering a speech at the opening ceremony of a World Summit on Food Security organized by the FAO in Rome. (EPA)

Renegade Malian soldiers appear on television at the ORTM television studio in Bamako in this March 22, still image taken from video. (Reuters)

His decade-long rule has been among the most stable in the region. But the gold- and cotton-producer has struggled to contain a northern rebellion in which dozens have been killed and nearly 200,000 civilians have fled their homes.

The Tuareg uprising came on top of a spate of kidnappings of Westerners carried out by Al- Qaeda allies that have set up bases in Mali’s remote north.

UN Secretary-General Ban Ki-moon called for calm and for grievances to be settled democratically in a statement hours before the soldiers said they had seized power.

The commission of the African Union said it was “deeply concerned by the reprehensible acts currently being perpetrated by some elements of the Malian army”.

Sporadic heavy weapons and tracer fire rang out in Bamako through the night and the mutineers, who say they lack the arms and resources to face the separatist insurgency in the Sahara, temporarily forced the state broadcast-

er off air.

“We now know it is a coup d’etat that they are attempting,” one defense ministry official said, asking not to be named.

The official said Toure was in a secure location but gave no more details and there was no word from Mali’s presidency. Statements posted by its official Twitter handle on Wednesday had denied there was a coup attempt.

A Reuters correspondent saw soldiers shooting in the air on the streets of Bamako where, despite the curfew, there were a number of motorists and motorcyclists.

Anger has grown in the army at the handling of the rebellion that has exposed Bamako’s lack of control over the northern half of a country twice the size of France.

In a sign of the breadth of the army mutiny, two military sources in the northern town of Gao confirmed the arrests of several senior officers in the town, a regional operations centre for the military.

Bamako was briefly paralyzed last month

as hundreds of Malians put up street barricades and burned tires in the streets to protest at the government’s handling of the rebellion.

A military source said a trigger for the mutiny was a visit on Wednesday by the defense minister to a barracks in the town of Kati about 20 km (13 miles) north of Bamako.

“The minister went to speak to troops but the talks went badly and people were complaining about the handling of the crisis in the north,” the source said.

A defense ministry official who was at the meeting said a soldier accused the defense minister of betraying them by not giving them means to fight the rebels. Soldiers then began throwing rocks at the minister before taking weapons from the armory and shooting in the air.

Tuareg fighters seeking to carve out a desert homeland in Mali’s north have made advances in recent weeks, including the seizure this month of the key garrison town of Tessalit by the Algerian border. -Reuters

DUBAI: The head of Al-Qaeda has called footage of US Marines appearing to urinate on the corpses of Afghans proof of Western depravity that underlines the need to fight “crusader” forces in the country. In a video posted to an Islamist site on Thursday,Ayman Al-Zawahri - who replaced Osama bin Laden last year after US troops killed him in Pakistan - called the images that emerged online in January a divine message. “God has exposed America with a tape ... which shows Marines urinating on the body of an Afghan holy warrior,” he said in a message delivered in Arabic. -Reuters

Militant denies making Bali bombs at trial JAKARTA: An Indonesian militant accused of building the massive Bali car bomb used in the deadly 2002 terrorist attacks on nightclubs insisted Thursday at his trial that another militant, not he, assembled the device. Umar Patek - a leading member of the Al-Qaeda-linked network Jemaah Islamiyah - told the West Jakarta District Court that he did not have the expertise to build anything as big as the 1,540-pound (700-kilogram) explosive that authorities say was used in the attacks on the two clubs along with other bombs. “I would not know how to assemble such a bomb,” he said, contradicting claims made to interrogators following his arrest last year in Pakistan. -AP

French gunman jumps to his death in hail of bullets UN’s Ban to raise North Korea launch at Seoul summit

Masked French special unit policemen (RAID) arrive at Perignon barracks after the assault to capture gunman Mohamed Merah during a raid on a five-storey building to arrest a suspect in the killings of three children and a rabbi on Monday at a Jewish school, in Toulouse March 22.

(Reuters)

TOULOUSE: A 23-year-old gunman suspected of killing seven people in southwestern France in the name of Al-Qaeda, jumped from a window to his death in a hail of bullets after police stormed his apartment on Thursday.

“At the moment when a video probe was sent into the bathroom, the killer came out of the bathroom, firing with extreme violence,” Interior Minister Claude Gueant said, adding that Merah was firing several guns at once.

“In the end, Mohamed Merah jumped from the window with his gun in his hand, continuing to fire. He was found dead on the ground,” he told reporters at the scene. Two police commandos were wounded.

Special forces entered the five-storey building in a suburb of Toulouse after besieging Merah since early on Wednesday.

Gueant said earlier police hoped to capture Merah, who had confessed to police negotiators to killing three soldiers as well as three Jewish children and a rabbi at a school, alive.

President Nicolas Sarkozy, whose already slim chances of beating off a Socialist challenger in next month’s presidential election may be affected by his handling of the crisis, has vowed justice will be done

and urged people not to seek revenge.

Early on Thursday, the first opinion poll since the school shooting showed Sarkozy would narrowly beat Socialist Francois Hollande in the first-round vote. But Hollande was seen at eight percentage points ahead in the second round.

There had been a long silence overnight from Merah, who said he wanted to avenge the deaths of Palestinian children and French army involvement in Afghanistan.

“Despite renewed efforts all through the night to reestablish contact by voice and radio, there has been no contact, no showing from him,” Gueant said.

A police source said that the lack of activity picked up by night vision goggles could merely mean that Merah was merely asleep but time was pressing to investigate. “At some point soon we’ll have to go in and see,” the source said.

Merah, a French citizen of Algerian origin who had been under intelligence surveillance for years, shot at police as they closed in on him in the early hours of Wednesday and later boasted to negotiators that he had brought France to its knees.

He said his only regret was not having been able to carry out more killings. -Reuters

Sarkozy takes first-round poll lead after shootings PARIS: The first opinion poll since a gunman shot dead four people at a Jewish school on Monday showed President Nicolas Sarkozy would narrowly beat his Socialist challenger in the first round of a presidential election next month.

Sarkozy and Francois Hollande suspended their campaigns after three children and a rabbi were shot dead at the school in Toulouse in southwest France, killings that followed the shooting of three soldiers earlier this month.

A CSA poll conducted on Monday and Tuesday showed Sarkozy would win 30 percent in the first round and Hollande 28 percent, whereas the two rivals had been neck-

and-neck a week ago.

Despite Sarkozy’s lead in the first round, the poll showed that Hollande was still ahead by eight percentage points in a second-round run-off on May 6, unchanged from a week ago.While Hollande has so far enjoyed a large lead over Sarkozy whose economic record and showy style left many voters dissatisfied, his response to Monday’s shootings has improved his image.

The shootings by a 24-year-old Muslim in the name of Al-Qaeda have thrust Sarkozy into his preferred role of protector-in-chief and put a new focus on security, traditionally a strong point for the president.

KUALA LUMPUR: UN Secretary-General Ban Ki-moon said Thursday he would raise North Korea’s planned rocket launch at a Seoul nuclear summit next week, expressing “deep concern” over the issue.

“I am going to discuss the issue with the president of the Republic of (South Korea) in Seoul and I will also engage with other leaders attending the nuclear summit,” Ban told a press conference in Malaysia.

The nuclear-armed North has announced it will launch a rocket next month to put a satellite into orbit, a move which the US and its allies see as a pretext for a long-range missile test.

Pyongyang has said any South Korean attempt to address the North’s nuclear program at the March 26-27 Seoul summit would be seen as a declaration of war.

But the program and the rocket launch were expected to be hot topics on the sidelines of the meeting, which will see US President Barack Obama and other world leaders meet to discuss nuclear security issues.

A UN Security Council resolution passed after the North staged missile and nuclear tests in 2009 bans a ballistic missile launch for any purpose.

“As secretary-general of the United Nations I express my deep concern by the announcement of the (North Korean) government (on) their intention to launch a satellite,” Ban said.

Ban, a South Korean, also called the planned launch “a clear violation” of Security Council resolutions and said it “threatens the peace and security on the Korean peninsula”.

He said it could also undermine recent positive signs on longrunning international efforts to end North Korea’s nuclear program.

Under a deal announced last month but now in jeopardy, Washington would offer substantial food aid for a partial nuclear freeze. It has raised modest hopes of progress in the denuclearization efforts.

“This (the rocket launch) is again undermining the positive atmosphere which has been established recently between the US and (North Korea),” Ban said.

The North has lambasted next week’s meeting - the South’s biggest-ever diplomatic gathering - as an “unsavory burlesque” intended to justify an atomic attack by South Korea and its US ally.

In Seoul, South Korean Foreign Minister Kim Sung-Hwan again appealed to the North to scrap its rocket launch, calling it “a grave provocation”.

South Korean President Lee Myung-Bak reportedly said Wednesday that despite Pyongyang’s threats, leaders of five nations will discuss ways to press North Korea to abandon its plans to launch the rocket.

The United States, China, South Korea, Japan and Russia have been involved since 2003 in the talks, which have been broken off repeatedly over various instances of North Korean

Sarkozy has repeatedly appeared on national television giving information on the manhunt and presiding over a ceremony for the fallen soldiers, while Hollande has had little choice but to remain on the sidelines.

The CSA poll was the first to show Sarkozy taking a two-point first-round lead over Hollande. Several other polls in recent weeks have shown Sarkozy trimming Hollande’s lead, indicating that the president’s efforts to step up his campaign were bearing fruit. Some 1,000 people of voting age were questioned for the CSA poll, which was conducted for BFM TV, RMC radio and 20 minutes free newspaper. -Reuters

brinksmanship.

North Korea’s state news agency said Wednesday any attempt by Lee to raise the issue would be “a ridiculous attempt and an absolutely unpardonable criminal act”.

“Any provocative act would be considered as a declaration of war against us and its consequences would serve as great obstacles to talks on the denuclearization of the Korean peninsula,” it said. -AFP

Map showing North Korea’s known nuclear sites. (AFP)

IAEA starts talks with North Korea over visit VIENNA: The UN nuclear watchdog said on Thursday it had begun talks with North Korea over Pyongyang’s invitation for it to visit the country, three years after its inspectors were expelled from the reclusive Asian state.

North Korea’s invitation to the International Atomic Energy Agency appeared to be an attempt to show it was serious about a nuclear moratorium deal with the United States last month even though it drew international condemnation last week for saying it would launch a long-range rocket carrying a satellite.

“I can confirm that the IAEA has started consultations with the DPRK about its invitation,” agency spokeswoman Gill Tudor said in an e-mailed response to a question.

North Korea is known formally as the Democratic People’s Republic of Korea (DPRK).

The secretive North has twice tested a nuclear device, but experts doubt whether it yet has the ability to miniaturize an atomic bomb to fit inside a warhead.

Pyongyang is believed to have enough fissile material to make up to a dozen nuclear bombs. In 2010 it unveiled a uranium enrichment facility to go with its plutonium program, which opened a second route to making an atomic weapon.

The US State Department said on Monday that, in principle, it supported efforts by the IAEA to gain access to North Korea to monitor Pyongyang’s implementation of all aspects of the Feb. 29 nuclear agreement.

However, it repeated that it believed this deal had been undercut by the North Korean announcement last week of the planned satellite launch. -AP

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ALWATAN DAILY

OPINION

friDAY, march 23, 2012

Bargaining should be refused Dr. Shamlan Yousef Al-Esa

T

he labor unions at Customs General Department and Kuwait Airways Company held a joint meeting and then announced suspending the strikes until a further notice. The two unions justified the step of suspending the strikes by protecting the supreme interests of the country as well as respecting the desire of the Prime Minister and the Speaker of the House.

We and the Kuwaiti people have to thank the Prime Minister Sheikh Jaber Al-Mubarak for refusing to receive the officials representing the labor unions who supported strikes wherein the premier insisted that no negotiations about cadres and raises would be held before suspending strikes.

However, the officials of labor unions know well that civil servants do not have the right to interrupt work or to be absent from duty because all the civil servants are subject to the laws of the Civil Service Commission (CSC). The civil servants have the right to file cases when they feel that some departments discriminate amongst servants in which some departments have obtained cadres and raises while others did not, therefore they have the right to visit the relevant

It is very clear now that labor unions and MPs changed their stubborn policy after the government showed a solid stance and refused blackmail of MPs and unions which in turn affects the public interests of the country. authorities including the judiciary to call for their rights.

Amongst civil servants who obtained salary raises are engineers, military individuals, academic professors and teachers, aside from employees of the oil sector.

I hoped the prime minister would have refused attending Thursday`s meeting as some MPs called for this meeting in order to discuss the crisis of the strikes, raises and cadres.

While we understand that the meeting is useless after suspending strikes and the government up until now does not have a clear plan for treating the case of raises. The government asked for a period of more than one year to study and take final decisions about the raises problem but the Economic Committee at the Parliament asked for shortening the period just 6 months or less. Then why did the govern-

ment approve of attending this meeting particularly after MPs started considering themselves responsible for defending civil servants!! The MP Faisal Al-Mislem announced that the wrong government policy was behind strikes then he said that labor unions are interested in people more than the government itself and then he called for unions to suspend strikes until after the meeting on Thursday!

It is very clear now that labor unions and MPs changed their stubborn policy after the government showed a solid stance and refused blackmail of MPs and unions which in turn affects the public interests of the country. This idea was disclosed by a number of pilots, engineers and volunteer workers at Kuwait Airways Company and the Customs General Department in addition to some retired employees. Many young volunteer workers expressed their regret at strikes and asked the government to allow them to replace strikers.

The premier should understand that the majority of the Kuwaiti people support him especially in the field of endorsing a strict policy and applying laws on all persons as well as rejecting blackmail and bargaining which are usually done to please certain sides. Our utmost request is imposing the rule of law over the people.

The ugly face of the unionists and strikes

It is an indisputable fact that the strikes didn’t meet the demands of the unionists.

Staff Writer

J

ust the day before yesterday, MP Faisal Al-Mislem said “the unions have greater concerns about the welfare of citizens than the government does. We ask them to suspend their strikes until after the outcome of the Thursday session.”

First of all, I find it difficult to believe the MP Al-Mislem’s claim that the unions have greater concerns to the welfare of the citizens more than the government has. We need to remind ourselves that the citizens the MP is talking about are not members of the unions.

The next point here is that we also need to remind ourselves that there is no government on planet earth or even since history that was recorded which is comparable to Kuwaiti governments which habitually and generously treats its own citizens. Moreover, the unionists are fully aware that they are receiving their salary from the government and at the same time are hopelessly unproductive.

Against such a background, one wonders why there is a systematic and persistent tendency on their part to instill utter hatred towards the government. I am not referring here to the MP Faisal Al-Mislem only but also to the rest of the MPs who are always very keen to widen the gap between the government and the people. Remarkably, and judging from his own statement, the MP Al-Mislem is not demanding a total stop for such strikes but to put them on hold until further notice.

If we to translate the message as the MP Al-Mislem would like us to understand, this means that he is condoning such strikes and that he would encourage them to resume them if the outcome of Thursday’s meeting is proven to be unfavorable.

I have suspicions that the Thursday session would be done behind closed doors.

You see, the matter is extremely tricky for those who publicly support it. On one hand, they can’t launch any attack and criticize the unionists because this would crucially turn the unionists against them. On the other, they can’t support them wholeheartedly because while they would win the unionist on their side, they would fatally lose the public and their support.

It is an indisputable fact that the strikes didn’t meet the demands of the unionists.

Their demands were neglected for so long and now they are talking of a truce during which the strikes would be suspended.

These are totally false claims. Nobody believes that the unionists have decided to discontinue with their strikes for the public interest. This is ridiculous. Allow me to quote one cynic who announced that the strikes were so unproductive that when the issue of the milk was raised, they decided to suspend the strikes in fear that the milk would be expired. “The milk won over,” commented one.

It is perhaps because of previous strikes and their failure that this time the strikes appear to be suspiciously organized. One closer look at the situation, we find that the

strikes are encircling the country in such a way to force the government to accept all the demands. The strikes thus far have impacted the country’s ports, land, maritime and air services.

Nonetheless, to strike and demand for your rights is one thing, to strike and ask other foreign bodies to take part is another.

We know that some have asked IATA, the International Air Transport Association, to stop providing their service to any of the flights taking off from Kuwait as candidly stated by Abdullah Al-Hajri. To put this mildly, I believe this was a declaration for war.

Our fears are that such designs are only a pretext for something which is much larger in scale of something akin to national strikes to bring the country into its knees and then do away with the civil state.

This might be rather extreme in the eyes of some but then again I fail to find a country so eager to hurt itself as in what we are doing to our country. This is happening on a daily basis. So, I am not saying to get emotional over the matter but certainly be alert to it.

His Highness the Prime Minister is steadfastly and decisively determined to maintaining his policy in this regard. We thoroughly appreciate it but it is obvious that the timer has come to do away with the unions. This is simply because they are blatantly violating the law. There is also an urgent need to look into the affairs of the Oil Union. Some time ago, the oil was in the hands of foreign companies but now it is totally nationalized. So, this means that the employees and staff working for the oil sector are working for the government.

Our only demand is that rationale prevails and social justice is fully addressed.

There is no harm of revoking any previous decision if such measures would safely and securely ensure social justice.The main point here is that any privileges, incentives, increments and so on should be based on qualifications and experience. This is the criteria which should be followed throughout if we truly seek to implement social justice and equality. The idea one the other hand that such privileges should be granted based on which ministry you are working for must be scraped totally once and for all.

I must say that I am very proud of our young men and women. They have proven to be productive in many ways and loyal to this country with their various national activities which remain to this day part of their voluntary work. They have indeed proven to be the bright side of a country which image has been marred with strife and extreme polarity in terms of ideologies and priorities.

When we look at such voluntary organizations as “We Are All for Her” and “Volunteer”, we feel proud that there are many especially among the younger generation who are not perturbed by the political affairs and intrigues. They are indeed boasting the country’s image and boasting our national pride. Thank God there aren’t many people like Faisal Al-Mislem and Musllam Al-Barrak.

T he K e co uwa i nom t i y

Nabeel Al-Fadhl

Ali Farzat

Logical salary raise Khalid Sultan Al-Sultan

T

hose who believe that I am against salary raise or raising pension the ceiling are mistaken. In the meantime, I don`t support a random salary raise but I support any logical raises because the salary raise should be accompanied by two factors. The first factor is increasing production while the second is developing performance in order to decrease expenses of other things. If the two factors are achieved then the equation of raises is progressing well and civil servants deserve the raise. If the raise is endorsed without achieving the two factors then it will increase the burden of the state.

Teachers became very happy when they obtained their cadre recently and we are also happy for them because teachers deserve material and moral support because they play a significant role in building society but there is one notice I want to highlight. Some school boys go to schools and attend classes but they get low marks not because the boys are lazy, it is because teachers do not implement flexible and easy techniques for delivering information therefore a lot of parents of students need to seek the assistance of certain teachers to teach their sons at home. My question is “what did the families and parents of students benefit from the teachers` raises!! How will we assess the benefits of raises?! Won`t families need hiring teachers to teach their sons at home!! Will

Some school boys go to schools and attend classes but they get low marks not because the boys are lazy, it is because teachers do not implement flexible and easy techniques for delivering information therefore a lot of parents of students need to seek the assistance of certain teachers to teach their sons at home. people tell us very soon that they don`t need to hire teachers now?! Will the educational system in the country be changed? Such questions might be directed to the other civil servants who obtain new cadres or raises. If the requests are not reasonable and the results of raises or cadres are not promising then all persons should know that we are directing our country into a dark tunnel and we face the bad results of such practices soon.

I received an impressive message from AlZahraa Cooperative Society saying that “because of the strike of the customs department and the price hike we will pursue our offers until selling

all commodities”. The society has really pursued its offers and they did another good thing wherein they put stickers on the shelves which became empty because of the strike saying “we apologize, no commodities because of the strike of customs department” and of course customers feel very sorry and angry with that department!

A friend of mine told me that some telephone lines were cut because employees of the Ministry of Communication had staged a strike but I called one of the ministry officials to know from him that the problem occurred due to a technical fault and lines would get activated very soon.

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views

friDAY, march 23, 2012

Captured Europe

There is a simple way to deal with a debt overhang: reduce payments by restructuring the debt.

Simon Johnson and Daron Acemoglu Project Syndicate

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urope’s policy elite - the people who call the shots at the national and eurozone level - are in serious trouble. They have mismanaged their way into a deep crisis, betraying all of the lofty promises of unity and prosperity issued when the euro was created. The currency union may survive, but, for millions of people, the euro has already failed in its mission of sustaining growth and ensuring stability. How did this happen?

The Greek, Portuguese, Irish, and Italian economies are reeling under fiscal austerity - with budget cuts and higher taxes as far as the eye can see. This policy mix will slow their growth, and that of the rest of Europe.

But that is only part of the problem. The bigger issue is the “debt overhang” that has forced European governments to pursue this course. There are strong parallels to what happened in the United States in the past few years: many families felt crushed by their debts, so household consumption fell and has yet to recover. The adjustment will be even more painful in Europe, because a sovereigndebt crisis has a depressing effect on everyone - consumers, investors, and the public sector alike.

There is a simple way to deal with a debt overhang: reduce payments by restructuring the debt. Many firms are able to renegotiate financing terms with their creditors - typically extending the maturity of their liabilities, which enables them to borrow more to finance new, better projects. If such negotiation cannot be achieved voluntarily, US firms can use Chapter 11 of the bankruptcy code, under which a court supervises and approves the reorganization of liabilities.

So you would think the same would be true for US households and embattled European governments. But the restructuring of debt has been too little and has come too late. Why? In both cases, the main argument for not removing the debt overhang came from bankers, who claimed that it would create havoc in financial markets for two reasons.

First, banks were the primary creditors, and the large losses that they would face in any restructuring was bound to trigger a domino effect, with waves of pessimism driving up interest rates and ruining other borrowers’ prospects.

Second, banks would also suffer because they had sold insurance against default - in the form of credit-default swaps.When these swaps were activated, the banks would incur potentially further crippling losses.

In the case of Greece, international bankers argued long and hard that debt restructuring would generate contagion far and wide within the eurozone - and perhaps more broadly.

And yet, in the end, Greece had little choice but to restructure its debt, cutting the value of private claims by

The Cracks in the BRICS Brahma Chellaney Project Syndicate

A

s it prepares to hold its latest annual summit in New Delhi on March 28-29, the BRICS grouping - Brazil, Russia, India, China, and South Africa - remains a concept in search of a common identity and institutionalized cooperation. That is hardly surprising, given that these countries have very different political systems, economies, and national goals, and are located in very different parts of the world. Yet the five emerging economies pride themselves on forming the first important non-Western global initiative.

The lack of common ground among the BRICS has prompted cynics to call the grouping an acronym with no substance. To its protagonists, however, it is a product of today’s ongoing global power shifts, and has the potential to evolve into a major instrument in shaping the architecture of global governance - the midwife of a new international order.

After all, the BRICS economies are likely to be the most important source of future global growth. They represent more than a quarter of the Earth’s landmass, over 41 percent of its population, almost 25 percent of world GDP, and nearly half of all foreign-exchange and gold reserves.

The BRICS, in fact, might also be dubbed the R-5, after its members’ currencies - the real, ruble, rupee, renminbi, and rand.

At the New Delhi summit, the BRICS leaders will discuss the creation of joint institutions, particularly a common development bank that can help to mobilize savings between the countries. Currently, the BRICS countries constitute a loose, informal bloc. If the group’s leaders fail to make progress on establishing an institutional structure, they will lend credence to the contention that it is merely a “talking shop” for countries so diverse that their shared interests, to the extent that there are any, cannot be translated into a common plan of action.

It was just last year that BRIC (Brazil, Russia, India, and China) became BRICS with the addition of South Africa. The BRIC concept, conceived in 2001 by Jim O’Neill of Goldman Sachs, was embraced by the four original countries only in 2008, when their foreign ministers met on the sidelines of a Russia-India-China (RIC) trilateral meeting. The addition of Brazil paved the way for the first BRIC summit in 2009, which, interestingly, piggybacked on the Shanghai Cooperation Organization (SCO) meeting in Yekaterinburg, Russia, that year.

That association helped the SCO - still largely a SinoRussian enterprise - to receive more publicity, but it left the BRIC countries with little space to start formulating a unified action plan. The subsequent enlargement to include South Africa has made the BRICS a more global grouping, which threatens to render irrelevant yet another initiative, the IBSA (India, Brazil, and South Africa).

For Brazil, Russia, India, and South Africa, the BRICS grouping serves as a forum to underscore their rising economic clout and showcase their emergence as global players. But, for China, which needs no recognition as a rising world power, the BRICS offers tangible - not just symbolic - benefits. As a result, China indeed has cast a lengthening shadow over the group, openly seeking, for example, to control the proposed common development bank - something that India and Russia, in particular, are loath to accept.

At a time when China is under pressure for manipulating the value of the renminbi to maintain export competitiveness, the BRICS framework offers it a platform to expand its currency’s international role. As part of its quest for a global currency that could rival the dollar or the euro, a cash-rich China plans to extend renminbi loans to the other BRICS members.

7

A man carries an artificial plant in Bucharest, Romania, back dropped by a shop window advertising price reductions for sports equipment, Monday, March 19, 2012. (AP)

about 75 percent relative to their face value although even this is probably not enough to make the country’s debt burden sustainable. This was deemed a “credit event,” so credit-default swaps were exercised: anyone who insured against default had to pay out.

Did all hell break loose? No. Banks have not failed, and there is no sign of tumbling dominoes. But that is not because banks prepared themselves by raising more capital. On the contrary, compared to their likely future

At a time when China is under pressure for manipulating the value of the renminbi to maintain export competitiveness, the BRICS framework offers it a platform to expand its currency’s international role.

Lending and trading in renminbi is likely to boost China’s international standing and clout further. But its undervalued currency and hidden export subsidies have been systematically undermining manufacturing in other BRICS countries, especially India and Brazil.

Proponents of the BRICS concept nonetheless remain hopeful that the group can serve as a catalyst for global institutional reform. With existing international arrangements remaining virtually static since the mid-twentieth century, even as non-Western economic powers and nontraditional challenges have emerged, the world needs more than the halfhearted and desultory steps taken thus far. The formation of the G-20, for example, was an improvisation designed to defer genuine financial reform.

In fact, the modest measures implemented in response to the changing distribution of global power have been limited to the economic realm, with the hard core of international relations - peace and security - remaining the exclusive preserve of a handful of countries.

China is not on the same page as the other BRICS countries when it comes to global institutional reform. It is a revisionist power concerning the global financial architecture, seeking an overhaul of the Bretton Woods system.

But it is a status quo power with respect to the United Nations system, and steadfastly opposes enlargement of the Security Council’s permanent membership. It wishes to remain Asia’s sole country with a permanent seat - a stance that places it at odds with India.

If the BRICS countries are to jell as a pressure group in international relations, they must agree on what they believe to be attainable political and economic objectives.

For example, they are generally united in their frustration with - but not in their proposed response to - the dollar’s status as the world’s reserve currency. Indeed, the most important bilateral relationship each BRICS country has is with the United States.

The BRICS concept represents, above all, its members’ desire to make the global order more plural. But it is uncertain whether the group’s members will ever evolve into a coherent grouping with defined goals and institutional mechanisms. In the coming days, we might find out whether the BRICS will ever be more than a catchy acronym with an annual boondoggle attached.

Brahma Chellaney, Professor of Strategic Studies at the New Delhi-based Center for Policy Research, is the author of Asian Juggernaut and Water: Asia’s New Battleground.

losses, European banks have raised relatively little capital recently - and much of this has been creative accounting, rather than truly loss-absorbing shareholder equity.

Perhaps the risk that a Greek debt restructuring would cause a financial meltdown was always minimal, and quiescent markets were to be expected. But, in that case, why all the fuss?

The answer should be clear by now: interest-group politics and policy elites’ worldview. Even if the risk to

the financial system was minimal, the impact on banks and bondholders was substantial.

They stood to lose billions, and many financial-sector employees stood to lose their jobs. Not surprisingly, leading bankers lobbied against debt restructuring, both behind closed doors and publicly.

For example, the Institute for International Finance, a preeminent Washington, DC-based lobbying group for large banks, consistently argues: bail us out, or else face the consequences.

But, just as important as their storyline is their political power, which has risen greatly in recent years - to the point that all major policymakers in the US and Europe cater to banks’ fortunes even when there are no wider implications for the economy.

Even now, many of the losses that bankers should have faced are being shouldered by the public sector, including through various forms of direct support and the extraordinary and risky actions of the European Central Bank. The extent of subsidies in this sector is stunning and, under current policies, will only increase over time thereby primarily supporting the lifestyles of the top one percent of people in very rich countries.

The Greek default has turned out to be the proverbial dog that didn’t bark. The lesson for Europe - and for the US - is clear: it is time to stop listening to what banks say, and start focusing on what they do. We must re-evaluate the distorted political economy of the financial sector, before the excessive power of the few imposes even larger costs on everyone else.

Simon Johnson, a professor at MIT’s Sloan School of Management and Senior Fellow at the Peterson Institute for International Economics, is the co-author of White House Burning: The Founding Fathers, Our National Debt, and Why it Matters to You. Daron Acemoglu is Professor of Economics at MIT and co-author of Why Nations Fail: The Origins of Power, Prosperity and Poverty.

The ideal nominee for World Bank president Felix Salmon Reuters

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ow things are getting interesting. Lesley Wroughton has the wonderful news: two very highly qualified non-American candidates - Ngozi Okonjo-Iweala and Jose Antonio Ocampo - are going to be nominated to be president of the World Bank. This really puts the pressure on the White House to knock it out of the park with their nomination, because Ngozi, in particular, is broadly regarded both within and outside the Bank as being pretty much perfect for the job. She’s a whip-smart economist, she’s honest, she’s imaginative, she’s dedicated, she’s expert at navigating the Bank’s labyrinthine bureaucracy and politics, and she’s passionate about the way that the Bank can really make the world a better place. In 2008, I “interviewed” Ngozi for Portfolio magazine.

Which means that I went down to Washington and got escorted in to her office. She then arrived, I asked her one short question, she gave me a fluent and wonderful 2,000-word answer while barely pausing for breath, and then she left for a meeting with Bob Zoellick.

It’s been five years since I first said that Ngozi would make an excellent World Bank president, and this nomination is long overdue.What’s more, she will have a lot of support within the World Bank’s board - the body which ultimately will make the decision as to whom to choose.

Of course, the board members do what they’re told to do by the bank’s shareholders - the world’s countries.

And if the Europeans and the Americans all vote for the US candidate, then the US candidate will win.

That’s the simple truth. But here’s the thing: everybody on the board pays at least a modicum of lip service to the idea that the job will go to the best candidate.

When Christine Lagarde took over at the IMF, she got the job because she was European, and the European candidate always gets the job. But at the same time, everybody voting for her could say with a straight face that she was, in fact, the best candidate as well.

Now that Ngozi’s in the running, the US is going to find it incredibly difficult to nominate a relatively lowprofile person like Susan Rice, because it’s almost impossible to make a credible case that Rice is a superior candidate to Ngozi on the merits. And other big names seem to be falling away: US Senator John Kerry and PepsiCo’s Indian-born CEO Indra Nooyi also made an Obama administration shortlist, according to a source, although Kerry has publicly ruled out the job and Nooyi is no longer in contention, according to another source.

This is really bad news, because by a process of elimination it more or less forces Obama to go with Larry Summers. Larry would be a dreadful nominee, and a worse president, in a job whose primary prerequisite is diplomacy.

And before he’s even nominated, there’s already a website up,ForgetLarry.org, devoted to campaigning against him for the job. It covers pretty much all the bases, although it weirdly misses the Russia/Shleifer scandal: for that, check out Cathy O’Neil’s post from a couple of weeks ago.

I’ve talked to a fair number of people about this position, including a few who are quite sympathetic to Larry, and not one of them thinks that he would be good in the post. If the US forced the world to choose between Larry and Ngozi, it would have to expend an astonishing amount of diplomatic capital to twist the requisite number of arms to get him the job, just because no one

More realistically, Obama is going to have to come up with a real knock-out of a nominee, someone who would waltz into the job no matter who she was up against.

would actuallywant to vote for him. Their hearts would be with Ngozi. Remember that Larry has never held elective office: it’s pretty much inconceivable he ever could. And yet, in its own way, the president of the World Bank is indeed an elected office. The electorate is tiny and extremely elite, to be sure. But the board is still going to want to meet with him, and he’s going to give them his insincere I’m-just-humoring-you-because-I’msmarter-than-you smile, and even the Europeans are going to start wondering whether they really have to give Larry the job, just because they want to retain their own grip on the IMF. It’s entirely conceivable, in fact, that an anti-Larry faction might vote instead for Jeff Sachs, who has already been formally nominated by some very small countries, on the grounds that convention holds that the president of theWorld Bank has to be an American, rather than that it has to be the US nominee. Up until now, the US nominee has always been the only American nominee: this is the first time that isn’t the case. Which means that we might yet see Larry and Jeff split the status-quo votes, allowing unstoppable momentum to gather behind Ngozi. So here’s one clever idea: Joe Stiglitz and Stan Fischer should throw their hats in the ring as well; I think that both of them would be able to find a country willing to nominate them.

There would then be no fewer than four American nominees for the Bank’s board to choose from. Stiglitz is on the record saying that the most qualified candidate is likely to come from a developing country; his candidacy would be a way of providing the greatest possible range of candidates for anybody who feels like they have to vote for an American candidate but who doesn’t want to vote for Larry.

More realistically, Obama is going to have to come up with a real knock-out of a nominee, someone who would waltz into the job no matter who she was up against.

Which is to say, Obama is going to have to nominate Hillary. Hillary has, we’re credibly told, ruled herself out for the job. Well, she might have to change her mind.

If Hillary is nominated, the job is hers: it’s as simple as that. And she would be very good at it, too. She wouldn’t even need to serve out a full term. While she had the job, she might even be able to engineer a way in which she could be succeeded by Ngozi, or some other highly-qualified candidate without a US passport. Which alone would make her one of the most important and revolutionary presidents in the Bank’s history.

Hillary is 64 years old - easily young enough to have one more big job before she retires. Does she want the job? Probably not. But she’d be great at it anyway. And she might have to accept the nomination, if only to ensure what she will be certainly working behind the scenes to achieve in any case - US continuity at the Bank at least through the 2012 elections. After that, I’m sure she can find a way to ease herself out if she really wants.

Felix Salmon is the finance blogger at Reuters. The views expressed are his own.

8

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Sharq Sharq Mirgab Mirgab Mirgab Jahra Gate Sharq Mirgab Sharq Mirgab Sharq Mirgab Mirgab Jabriya Sharq Mirgab Sharq Sharq Sharq Salmiyah Jahra Gate Sharq Sharq UN Circle Mirgab Mirgab Mirgab Mirgab Mirgab Al-Jleeb Fahaheel Mirgab Mirgab Jahra Gate Sharq Fahaheel

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Shuwaikh 4th Ring Rd Airport Rd Ras Salmiyah 4th Ring Rd 4th Ring Rd Hawalli Shuwaikh Kheitan Farwaniyah 3rd Ring Rd King Faisal Rd Hawalli Hawalli Andalus Shuwaikh Shamiyah Nuzha Farwaniyah Farwaniyah Bayan Shuwaikh Shuwaikh Al Rai 6th Ring Rd Al Hasawi Sabah Salem 3rd Ring Rd Jahra Rd Shuwaikh UN Circle Jahra Rd Fahaheel Rd Hawalli Shuwaikh Ahmadi

KD 70 KD 140 KD 40 KD 40 KD 40 KD 40 KD 40

VISITORS RESIDENTS

H.S.C. Barium Enema Barium Meal O.C.G. Ultrasound Ultrasound desfruct M.R.I.

KD 40 KD 50 KD 45 KD 45 KD 15 KD 130 KD 245

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Tel.: Afghanistan 2532 9461 Algeria 2251 9220 Argentina 2537 9211 Austria 2255 2532 Australia 2232 2422 Azerbaijan 2535 5247 Bahrain 2531 8530 Bangladesh 2531 6042 / 3 Belgium 25722014 Bhutan 2251 6640 / 50 Bosnia 2539 2637 Brazil 2532 8610 Bulgaria 2531 4458 Canada 2256 3025 China 2533 3340 Cuba 2254 9361 Cyprus 2243 3075 Czech 2252 9018 Denmark 2534 1005 Egypt 2251 9956 Ethiopia 2533 4291 Eritrea 2531 7426 Finland 2531 2890 France 2257 1061 Germany 2252 0827 Greece 2481 7101 Georgia 2535 2909 Hungary 2532 3901 India 2253 0600 Indonesia 2483 9927 Iran 2256 0694 Italy 2535 6011 Japan 2530 9400 Kenya 25353314 / 25353362 Lebanon 2256 2103

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Police stations Tel.:

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

Ambulance

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

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

Private Hospitals

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

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

Adan General Hospital Al-Sabah Chest Hospital Al-Sabah Maternity Hospital Amiri General Hospital As’ad Al-Hamad Dermatology Center

Farwaniya General Hospital Ibn Sina Hospital Jahra General Hospital Mubarak Al-Kabeer General Hospital Subhan Renal Hospital Sulaibikhat Orthopedic Hospital

25624000 22802555 1828282 1883883 25726666 22533177

Private Health Centers/ Clinics

Boushahri Clinic British Medical Center Care Clinic International Clinic

Public Hospitals

cons u l a tes

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

centr a l 4 7 2 2 0 0 0

94904040

hospital charges

medical services

Call, sms, Email us

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

23940600 24815000 24848067 22450080

1885544 23713100 22610666 25745111

Public Health Centers/ Clinics:

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

24832067 24883000 24840300 24575300 25312700 24840027 24874240

22447602 22545188 24726033 22611645 25750777 25524821 25723500 25610660 24848913 25336482

DOCTORS & DENTISTS

I N PR I VAT E PR AC T ICE

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

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

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

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

2565 0064 2533 3501

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

2572 8004 2532 9924

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

Cosmetic Surgeon Dr. Adel Quttainah

2562 5030 / 60

Ministries

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

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

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

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

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

Noodles Salmiya Tel: 25712233

Bukhara Sheraton Hotel Tel: 22422055

The Peacock Radisson Blu Hotel Tel: 25673000

Tourist Restaurant Kuwait City Tel: 22411702

Noodle Factory Avenues Tel: 24954751

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

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

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

Tel: 22997000

L I S T I N G S

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

Sakura Crowne Plaza Hotel Tel: 24742000

AlRoshinah Restaurant Safir Hotel & Residences -Fintas Tel: 25455555

Shogun The Palms Hotel Tel: 27070022

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

Manousha Salmiya Tel: 25722607 / 8

Al-Noukhaza Crowne Plaza Hotel Tel: 24742000

Fakhr Al-Din Restaurant Kuwait City Tel: 22423180

Villa Fairouz Shaab Tel: 22652030

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

Garden New Park Hotel Tel: 25634200

Yeldes Palace Kuwait City Tel: 22455212

Kabab-Ji Tel: 1861616

Zahrat Tunis Hawalli Tel: 22662444/333

Mais Al-Ghanim Kuwait City Tel: 22402590

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

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

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

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

Shabistan Crowne Plaza Hotel Tel: 24742000

The Gaucho Grill The Palms Hotel Tel: 25667370 -

• Seafood Al-Ahmadi Crowne Plaza Hotel Tel: 24742000

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

Al-Boom Radisson Blu Hotel Tel: 25756000

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

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

Flavors Restaurant Safir Hotel & Residences -Fintas Tel: 25455555

• Italian Ciro’s Pomodoro Kuwait City Tel: 22424004

Saj Express Kuwait City Tel: 22497822

Te l : 1 8 3 9 0 9 0

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

HOTELS

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

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

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

22452740 22997000 23281897 22415001

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

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

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

22528766 22465489 22443136 22532100 25742410 25713872 22928080

TWO STAR International Hotel Kuwait Residence Hotel

25741788 22467560

BUSINESS

fridAY, march 23, 2012

m ar ket watc h KUWAIT 0.09% 6243

Gold at lowest since mid January, investors back away

DUBAI

QATAR

OMAN

0.3% 1660

0.2% 8653

0.6% 5958

ABU DHABI 1.0% 2568

London: Gold hit its lowest level since mid-January on Thursday, influenced by dollar strength, with the market having unwound all of the premium built up on expectations for further US quantitative easing.

Spot gold was down 0.8 percent at 1,635.06 US dollars at 1140 GMT. The metal earlier hit a low of $1,631.74 - its weakest since January 16, extending losses seen when the Federal Reserve upgraded its US economic outlook and fuelled the idea of being done with injecting further liquidity into the system.

See page 10

OIL MARKETS BAHRAIN

EGYPT

SAUDI

0.1% 1148

0.1% 5137

MARKET CLOSED

US Crude $104.71 $2.56 London Brent $122.57 $1.47 Kuwait Crude $122.57 $0.03 Information Courtesy: KAMCO

CURRENCIES US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2785 Sell 0.2788 Buy 0.3666 Sell 0.367

Buy 0.4399 Sell 0.4405

Buy 0.003363 Sell 0.003368

Buy 0.0743 Sell 0.0743

Buy 0.07582 Sell 0.07591

Buy 0.07658 Sell 0.07648 Buy 0.7386 Sell 0.73962

Buy 0.005445 Sell 0.005436 Buy 0.006478 Sell 0.006467

Prices in Kuwaiti fils As of March 22, 2012 Courtesy: KAMCO

Kuwaiti oil continues downward trend, drops 3 cents Oil falls on weak Chinese, European data

CAPITALS: Price of Kuwaiti crude dropped three cents to settle at 122.57 US dollars per barrel on Wednesday, in comparison to $122.60 pb on the day before, Kuwait Petroleum Corporation (KPC) said on Thursday.

Saudi Arabia’s announcement to increase its crude oil production to meet growing demands especially after Iran threatened to halt its oil exports to Europe led to a curb on oil prices.

Oil prices still on a state of fluctuation due to many factors such as the geopolitical situation in the Middle East and the Iranian halt of its oil exports and Europe’s sovereign debt crisis.

In more news, oil fell steeply on Thursday and was set for its lowest close in more than two weeks after weak Chinese and European manufacturing data sparked fears that slowing growth could dent global energy demand.

Brent crude fell $1.60 to $122.60 a barrel by 1405 GMT, after settling eight cents up at $124.20 a barrel on Wednesday.

It was down around 2.6 percent for the week, on track for its biggest weekly fall since December, and heading for its lowest close since March 6.

US crude was down $2.47 at $104.80, heading for its lowest close since Feb. 17. The benchmark had risen $1.20 to $107.27 on Wednesday.

Chinese factory activity shrank in March for a fifth successive month, with the overall rate of contraction accelerating and new orders sinking to a four-month low, the HSBC flash purchasing managers index (PMI) showed.

“There’s a bit of a China backlash at the moment, and we should expect more turbulence as people assess whether China is heading for a hard or a soft landing,” said Filip Pe-

factory activity that even the most pessimistic economists failed to predict, business surveys showed.

Sagging demand in Europe has hit refiners hard as margins for processing crude have slumped, leading to the collapse of Swiss-based independent refinery group Petroplus.

In the United States, Labor Department data showed new claims for unemployment benefits had dropped to a fresh four-year low last week, but that did little to shore up investor appetite for riskier assets.

Iran risk

A cigarette stained with lipstick is seen left on the ground in Shanghai, March 22, 2012. Michael Bloomberg’s charitable foundation will commit an additional 220 million US dollars over the next four years to fighting tobacco use globally, including funding for legal challenges against the tobacco industry by countries such as Uruguay.

The New York City mayor was set to announce the new funding for Bloomberg Philanthropies on March 22, 2012 at the 15th World Conference on Tobacco or Health in Singapore. His charity will monitor the tobacco industry’s strategies and offer legal support to counter its pushback against anti-smoking campaigns. (Reuters)

tersson, commodity strategist at SEB in Stockholm.

“There’s a far greater chance of a soft landing, but there will be more doubts from time to time, and sentiment has

turned quite rapidly bearish today in Europe.”

The euro zone’s economy took an unexpected turn for the worse in March, hit by a sharp fall in French and German

Slowing global seasonal oil demand and a potential release of emergency stockpiles by consuming nations will slow the oil price rally in coming months, before sanctions on Iran start affecting global supply, a Reuters poll showed on Thursday.

The monthly poll of 36 analysts showed an average increase in price forecasts for this year of four dollars a barrel, on top of a three US dollars per barrel upward revision in February.

Investors continue to weigh the possibility of supply disruptions from Iran, which is putting a hefty premium on the price of crude.

The market is balancing Saudi assurances that it would make up for any supply shortfalls against the potential risk of the loss of oil from Iran, amid tighter Western sanctions on Tehran over its disputed nuclear program.

South Africa has suspended almost all of its oil imports from Iran and intends to abide by a US request to significantly drop its supplies from the state, a senior diplomat said on Thursday.

“If sanctions begin to bite and oil is not replaced with Saudi oil, or there’s a military strike, there will be more upward pressure,” said Christopher Bellew, an analyst at Jefferies Bache.

“I know the Saudis say that they can replace lost oil, but whether this is actually the case, I’m not sure.” -Agencies

KSE ends the week with red closing Investors hope UAE Q1 earnings justify stock rally US dollar exchange rate stabilizes against Kuwaiti dinar

KUWAIT: Action at Kuwait Stock Exchange (KSE) was generally on a downward turn on Thursday, with deeper price index decline in the second half of the trading session to a final reading of 6,243.5, a down of 5.9 points, while the weighted index ended the session on 423.22 points, a down of 0.23 points. Trades came to 5,819 deals worth 46,000,980 Kuwaiti dinars, with 435,055,000 shares changing hands.

The sector indices meanwhile were mixed, with biggest gain of 49.7 points in the insurance sector and biggest loss of 74.8 points suffered by the industrial index.

Gainer share of the day was National International Company, biggest loser was Gulf Glass Manufacturing Company, and most traded was Al-Deera Holding Company.

In more news, Exchange rate of the US dollar against the Kuwaiti dinar stabilized, standing at 0.278 Kuwaiti dollars, while the euro went down to KD 0.368, compared to Wednesday’s figures, said the daily bulletin of the Central Bank of Kuwait (CBK) on Thursday.

Exchange rate of the Sterling pound remained stable, at KD 0.441, and the Japanese yen also remained unchanged, at KD 0.003. Meanwhile, the Swiss franc increased to KD 0.306. -KUNA

Abu Dhabi’s finance house to buy CAPM ABU DHABI: Abu Dhabi-listed Finance House is to buy privately-owned investment bank CAPM Investment to expand into investment banking and asset management, three sources familiar with the matter said on Thursday.

Under an agreement between the two parties, Finance House will acquire CAPM’s investment banking and asset management license, offering a premium of between five to 10 percent to the value of those businesses, one of the sources said speaking on condition of anonymity.

CAPM was capitalized at 100 million dirhams (27.2 million US dollars). Its liquid assets are estimated at around 40 million dirhams while the brokerage business is valued at around 55 to 60 million dirhams, the source said. However, the brokerage business is excluded from the deal as it will be wound up. “It is a done deal between the two companies. The UAE Central Bank’s approval is awaited,” a second source said speaking on condition of anonymity.

“The acquisition helps Finance House to complete its portfolio and offer investment products, advisory etc under the investment

bank umbrella,” the source added.

A third source said Finance House was most likely to merge CAPM with its DIFCbased (Dubai International Financial Centre) unit, Finance House Capital, although a final decision on this is yet to be taken.

The sources declined to be named as the deal has not been made public yet. Finance House officials declined to comment.

A CAPM official, who declined to be identified, said the company’s shareholders approved the sale on Monday.

Investment banks and brokerages in the Gulf Arab region are under pressure to consolidate as slumping market turnover and weak asset values put their survival in doubt. Ninety brokerages are licensed to trade the two domestic bourses in the United Arab Emirates, Dubai Financial Market and Abu Dhabi Securities Exchange, according to the Securities and Commodities Authority.

But this number may now have fallen by more than half as many of them have asked for their licenses to be suspended or have shut themselves down completely, securities analysts say. -Reuters

Zain offers 50% discount on SMS, 20% on International calls to Pakistan In celebration of Pakistan National Day

KUWAIT: Zain, the leading telecommunications company in Kuwait, has announced that it will offer a 50 percent discount on all SMS messages to Pakistan and 20 percent discount on International calls to Pakistan as they celebrate the National Day on March 23. This was mentioned in a press release on Thursday.

Zain Kuwait expressed its congratulations on this occasion to the people of Pakistan, represented in its leadership, the embassy and all Pakistan expatriates’ residing in Kuwait. The Company said that Zain is a global company which is always keen to participate in the celebrations of nations.

The Company stated that the offer is extended to all SMS and International calls sent to Pakistan only on the March 23 for both post-paid and pre-paid customers.

DUBAI: As the first quarter of the year draws to a close, investors are looking ahead to the announcement of corporate earnings for the period. In the United Arab Emirates (UAE), they are seeking justification for the sharp rally in local stocks over recent weeks. The Dubai and Abu Dhabi markets have been dominated by retail traders and speculative buying, so any disappointment in the quarterly numbers could shake newly acquired confidence. Dubai’s benchmark is up 22 percent year-to-date, although it is still down 74 percent from its peak in early 2008. Abu Dhabi’s index has risen about eight percent so far this year, leaving it down 49 percent from its peak before the financial crisis. “In order to build confidence for the equity market rally in the near term, sequential earnings growth from UAE corporations in Q1, of 2012 is important...to show that they have indeed passed the trough,” said a Dubai-based portfolio manager.

First-quarter earnings are expected to be released in late April. Shares in the two sectors that form the backbone of the UAE’s stock markets, real estate and banking, are trading at valuations which are still considered attractive. Banks are expected to post strong quarterly earnings with Abu Dhabi names being favored over Dubai banks.

“The banking sector is solid in the UAE in general, with all banks being well capitalized,” said Rami Sidani, Middle East head of investment at Schroders. “Given the loan book in Abu Dhabi, which was less affected than Dubai banks, they have turned a corner. And although growth might be subdued for 2012, their balance sheets are in good shape and they will be able to keep up with growth as the market improves.

“For Dubai banks, we are reaching the peak in the impairment cycle. ENBD is well-capitalized and although they continue to take losses, given the high capitalization, they can absorb these impairments.” Ali Adou, portfolio manager at The National Investor, expects UAE banks to grow their earnings by 7 percent on average during the quarter compared to a year earlier.

“Abu Dhabi banks have a strong capital adequacy ratio and any write-offs in real estate prices will affect Dubai banks more than Abu Dhabi banks,” Adou said. “In Dubai, there are still concerns with exposures to government-related enti-

FILE- A stock index board is seen as investors look at share prices on the trading floor at the Dubai Financial Market in this Jan. 31, 2011 file photo. As the first quarter of the year draws to a close, investors are looking ahead to the announcement of corporate earnings for the period.

(Reuters)

ties. There has been a lot done in that regard, but you still have a provisioning cycle and the banks need time to get out of the woods.”

According to Reuters data, Emirates NBD, Dubai’s largest bank by market capitalization, is trading at 6.5 times this year’s estimated earnings, above a multiple of 4.9 times at the end of 2009 but well below 16.9 times in 2007. Dubai Islamic Bank looks a bit cheaper; it is trading at 6.4 times this year’s estimated earnings, compared to a 2009 level of 6.9. Abu Dhabi Commercial Bank is at a forward price/earnings ratio of 8.4 times, against about 12 in 2009.

Real estate

Valuations also appear reasonable compared to historical levels in the real estate sector, where Emaar Properties is trading at an estimated forward price/earnings ratio of 9.6 times compared to 11.35 at the end of 2009. Aldar Properties is trading at 12.7 times compared to 17.2.

“Emaar’s numbers will be good because the

hotel occupation rates have been strong, not just for the company but across the hospitality sector,” said Loic Pelichet, assistant vice-president for research at NBK Capital. “Visibility is still low on the property development sales. Things are generally getting better in the Dubai real estate sector, but selectively. Rents have started recovering but we will have to see if it’s sustainable.”

Pelichet said Emaar’s stock had upside of 10 to 15 percent, and he expects the company to post quarter-on-quarter growth in net profit of 25 percent for the January-March period.

Abu Dhabi’s decision to consider a merger between builders Aldar Properties and Sorouh Real Estate will dominate investors’ decisions in coming weeks. Analysts say Aldar is likely to benefit from the merger if it goes through, but the terms of the deal are not yet known. “Sorouh is going to trade on people’s expectations of the merger. No one will look at earnings. We’ve suspended our recommendation on it given the possible outcome of the negotiations,” Pelichet said. -Reuters

UAE ends mixed as retail dominates, Qatar, Oman up DUBAI: United Arab Emirates (UAE) markets end mixed as retail investors dominated trade on Thursday, while Qatar’s benchmark closes higher for a first day in three. Dubai’s index climbed 0.3 percent, taking its 2012 gains to 23 percent. The benchmark traded within a 50-point range this week, volatility easing as investors await new catalysts to lift the market. Some small-cap stocks still made large swings, however. National Central Cooling (Tabreed) jumped 8.4 percent, mortgage lender Tamweel rose 3.3 percent and Deyaar Development added 2.3 percent.

“The UAE was trading at very depressed levels compared to its peers - corporations are expected to deliver better results than last year and that’s why the interest in UAE has increased,” said Ali Adou Portfolio Manager at The National Investor. Abu Dhabi’s benchmark slipped one percent,

down for a fifth session in six. The bourse hit a seven-month high on March 4. National Bank of Abu Dhabi fell 5.1 percent, Abu Dhabi Commercial Bank dipped 0.7 percent and First Gulf Bank fell 0.4 percent. In Qatar, the index ended 0.2 percent higher, moving in a sideways trend.

Elsewhere, Oman’s bourse rallied as investors picked up shares in investment firms, which are likely to see the value of their local equity portfolios rise along with the wider market. The index finished 0.6 percent higher in its third straight gain. It is up 7.1 percent since the end of January.

Transgulf Investment Holding added 3.6 percent and Oman Investment and Finance climbed 1.9 percent. “Investment firms would gain further when the market as a whole improves,” said Harikumar Varma, assistant vice-president of as-

set management at Gulf Baader Capital Markets.

“I think the mood is partially regional, which is basically a derivative of oil and partly on government spending. The market has another 8 to 10 percent upside in the coming weeks.” Kuwait’s bourse eased 0.09 percent, slipping from Wednesday’s nine-month closing high.

Small-caps dominated trading volumes, signaling high retail investor participation.

Al Deera Holding fell 4.2 percent, Gulf Finance House ended flat and Hits Telecom Holding dipped 1.9 percent and are the three most traded stocks. “Kuwait has lagged most Gulf markets this year, but as the rally in other markets weakens Kuwait is seen by a lot of regional fund managers as a good place to park their cash after booking gains elsewhere,” said a Kuwait trader who asked not to be identified. -Reuters

10

BUSINESS IN REGION

ALWATAN DAILY FRIDAY, march 23, 2012

South Korea, Taiwan Gold at lowest since mid January, investors back away cut Iranian oil imports London: Gold hit its lowest level since mid-January on Thursday, influenced by dollar strength, with the market having unwound all of the premium built up on expectations for further US quantitative easing.

Spot gold was down 0.8 percent at 1,635.06 US dollars at 1140 GMT. The metal earlier hit a low of $1,631.74 - its weakest since Jan. 16, extending losses seen when the Federal Reserve upgraded its US economic outlook and fuelled the idea of being done with injecting further liquidity into the system.

US gold futures were down $15.40 at $1,634.90. Spot silver was last at $31.86, down 0.8 percent.

The dollar found its legs as the euro took a hit from unexpected declines in euro zone manufacturing and services activity in March, dented by a sharp fall in French and German factory activity.

A stronger US currency can make dollarpriced gold less attractive to non-US investors.

Gold has shed some 3.3 percent this month, cutting its overall gain on the year to 4.6 percent.

“All the people who piled in back in January when the Fed went very public on low interest rates ,...that has all been unwound now,” said Simon Weeks, he ad of precious metals at Scotia Mocatta.

“There probably is more on the downside, but I think we’ve probably seen the worst of the liquidation. There may be another move toward $1,600 but that’s possibly enough for the time being,” he added.

Stock markets were also down, with MSCI’s main world equity index down 0.4 percent to its lowest in eight days, after hitting its highest level since August earlier in the week.

Physical market muted

Asia’s physical market was muted, with sparse interest, traders said. Weak Chinese manufacturing activity, showing the overall rate of contraction accelerating and new orders sinking to a four-month low, also fanned concerns about China’s retail gold appetite.

FILE- An Indian goldsmith checks jewelry after making it in Hyderabad, India, Thursday, Aug. 4, 2011. Gold hit its lowest level since mid-January on Thursday, influenced by dollar strength, with the market having unwound all of the premium built up on expectations for further US quantitative easing. (AP)

“People are concerned about China’s economic growth. If growth slows down and inflation eases, people may choose not to buy gold,” said a Hong Kong-based gold dealer.

“We have been rangebound for a while and people are looking at the possibility of breaking lower rather than higher.”

In India, the world’s largest gold consumer, jewelers have been closed since

the weekend in protest against an import duty hike on bullion. The recent economic optimism helped platinum regain its premium over gold earlier in the month. But the spread flipped to a discount again this week, with gold standing roughly $19 above platinum. Spot platinum traded down 1.2 percent to $1,612.50 an ounce, and spot palladium dropped almost three percent to$666.88. -Reuters

SEOUL: South Korea cut imports of Iranian crude in the first two months of 2012 and Taiwan plans to halt its purchases from July as the two join the growing list of countries reducing imports under pressure from the United States.

The quartet of South Korea, China, India and Japan are the four biggest buyers of Iranian crude in Asia and have either made a cut in imports or pledged to do so. Iran sells most of its 2.6 million barrels per day (bpd) of exports in Asia.

The US on Tuesday exempted Japan and 10 EU nations from financial sanctions because they have significantly cut purchases of Iranian crude, but left out ally South Korea and Iran’s top customers China and India.

South Korea’s refiners were cutting imports to ensure the government could petition the US for a sanctions waiver, a source at South Korea’s economy ministry said on Thursday.

“South Korea is cooperating at a fundamental level with the US regarding Iranian crude oil imports,” the source said. “I think refiners are making efforts to help South Korea receive an exemption from the United States.”

The world’s fifth-largest oil importer, South Korea bought 15 percent less Iranian crude in the first two months of the year compared with the same period in 2011, even though overall crude imports increased by 3.4 percent on the year.

Iranian crude imports fell to 12.9 million barrels, or 215,483 barrels per day (bpd), in January and February from 15.04 million barrels, or 254,831 bpd, a year earlier, state-run Korea National Oil Corp (KNOC) said on Thursday.

Buyers of Iranian crude will face US sanctions if they fail to cut purchases significantly. The US is using sanctions to put pressure on Iran to halt its nuclear program, which Washington says Tehran is using to develop weapons. Iran says it needs nuclear-generated power.

EU sanctions have also made buying Iranian crude more difficult as they penalize insurers for indemnifying Iranian crude cargoes anywhere in the world.

Japan’s imports in February could fall by as much 70 percent on average for 2011 due to difficulty in getting insurance, the Nikkei daily said on Thursday.

A delegation from Seoul will meet US officials soon to discuss the depth of the cut in Iranian crude imports that Washington would like to see South Korea make. Officials from both sides have declined to comment on the depth of the cut under discussion.

If Japan is any measure, the cut would need to be 15-22 percent.

Carlos Pascual, US State Department Special Envoy and Coordinator for International energy Affairs, held up Japan’s cut as an example for other nations but equally declined to set a benchmark that countries could follow to secure an exemption.

With the reduction in January and February, South Korea has reversed what was a trend toward increasing Iranian oil purchases. In 2011, its Iran imports rose 20 percent.

Taiwan will halt its imports from July, a source at state-run refinery CPC said on Thursday.

Taiwan is a small buyer of Iranian crude, purchasing between 19,000 and 22,000 bpd. It was on a list of Iranian crude buyers potentially subject to sanctions, a US State Department official said on Wednesday.

Few problems; cost burdens

South Korea has had no problems finding oil to substitute for Iranian imports, the country’s finance minister Bahk Jae-wan told reporters on Thursday.

“We already have secured enough alternative oil,” Bahk said after an industry event.

Taiwan had no plans to ask for the US waiver to sanctions, as it would simply buy crude from other countries, CPC President Lin Mao-wen told Reuters on Thursday.

Top oil exporter Saudi Arabia said this week it would plug any shortage in supplies to the market and was ready to raise output to full capacity of 12.5 million bpd if needed.

South Korea sourced 87 percent of its total crude imports in the first two months of this year from the Middle East - mainly Saudi Arabia, Kuwait, Qatar, the United Arab Emirates and Iran -- up from 85 percent a year earlier, KNOC data shows.

Cutting imports from Iran might drive up the country’s overall import costs, said Son Young-joo, energy analyst at Kyobo Securities Co Ltd. “I don’t think the shortage of Iran crude oil supply itself will do much harm to South Korea,” he said. “The only problem I see is the cost, as Iran crude oil was about two dollars to three dollars a barrel discounted compared to other countries’ products.”

KNOC data also showed crude imports by South Korea jumped 14.2 percent in February from a year earlier to 80.82 million barrels. From Iran, Seoul imported 5.90 million barrels last month, up 3.8 percent from a year earlier, the data showed. The rise in both figures last month could be attributed to the extra day in February this year. -Reuters

Oil rally will pause until market sees Iran cuts Japan logs surprise February trade surplus

A man walks near a container ship at a port in Tokyo March 22, 2012. Japan’s first trade surplus in five months and a revival of confidence among manufacturers has added to evidence the economy was growing again as the yen weakens and external demand picks up, reducing the need for further monetary policy easing. (Reuters)

CAPITALS: Japan logged a surprise trade surplus in February, offering a glimmer of hope for its moribund economy, but economists warned that with oil prices heading higher the outlook remained uncertain. The export-led boost reversed a monster deficit in January, largely thanks to a recovering auto industry and signs that the United States’ economy is picking up even though the European market remains weak. February’s trade surplus of 32.9 billion yen (394 million US dollars), the first in five months, was still dwarfed by the surplus of 636.99 billion yen posted in the same period a year ago.

The dollar and the euro weakened against the yen just before the release of the monthly figures, which beat market forecasts of a 110-billion-yen deficit, according to a poll by Dow Jones Newswires and the Nikkei business daily. “It was quite a surprise,” said Taro Saito, a senior economist at Tokyo-based NLI Research Institute.

“It was not expected that the decrease in exports would shrink this much.”

One of the largest contributing factors was “the US economy, which is picking up much faster than expected,” Saito said, adding however that he expects Japan’s March trade balance to fall back into the red.

Auto exports to the US rose 26.9 percent from a year earlier while sales of steel and construction and mining machinery also expanded, the official data showed.

“The auto industry is recovering quickly and doing well also in the domestic market.

The upbeat US economy is helping the increase in exports of cars,” Saito said.

Auto production is recovering from last year’s earthquake in northern Japan and di-

sastrous flooding in Thailand, which pounded Japanese firms with manufacturing operations in the Southeast Asian nation.

Overall Japan’s exports fell 2.7 percent from a year earlier to 5.44 trillion yen in February on weaker demand for products including steel, medical products and semiconductors, the finance ministry data showed. Imports increased 9.2 percent to 5.41 trillion yen in the month on strong demand for crude oil and liquid natural gas, marking the 26th consecutive month of gains in imports.

Demand for fossil fuels has surged in Japan after last year’s earthquake-tsunami disaster sparked the world’s worst nuclear accident in 25 years, leading the government to take many atomic reactors offline.

Japan logged a record trade deficit of 1.48 trillion yen in January as fuel imports rose to meet electricity generation needs, with most nuclear reactors offline since the disaster. Yasuo Yamamoto, senior economist at Mizuho Research Institute, said trade figures in March may dip back into the red on rising crude oil prices. “The figures are likely to hover between small deficits and surpluses for the time being,” he said.

Exports have traditionally been a key engine for Japanese growth, but they were hard-hit in 2011, marred by the natural disasters, weakening global demand and a strong yen, which makes exporters products more expensive overseas.

This month, Japan’s central bank boosted a lending program to commercial banks by about 2.0 trillion yen to kickstart growth and battle deflation as it said the country’s disaster-struck economy was showing signs of picking up. -AFP

LONDON: Slowing global seasonal oil demand and a potential release of emergency stockpiles by consuming nations will slow the oil price rally in coming months, before sanctions on Iran start affecting global supply, a Reuters poll showed on Thursday.

The monthly poll of 36 analysts showed an average increase in price forecasts for this year of four US dollars a barrel, on top of a three dollas per barrel upward revision in February.

The revision reflects a 15 percent rally in Brent prices so far this year, amid growing tensions over Iran’s nuclear program. Analysts’ revisions in March became the biggest in recent years, even exceeding changes in their views during the peak of the Libyan war in 2011.

The oil price rally prompted the world’s top oil consumer, the United States, to consider releasing strategic stockpiles to protect fragile economic recovery, while the world’s top oil exporter Saudi Arabia said it stood ready to boost supplies to help cool global prices.

“We expect the oil price to come under pressure temporarily in the spring. This is based on the assumption that the crisis in Iran does not escalate further and that the feared supply disruptions do not therefore materialize,” said Carsten Fritsch, senior commodities analyst at Commerzbank.

Oil commodity strategist Harry Tchilinguirian at BNP Paribas said:” Rising OPEC production and year-on-year growth in non-OPEC crude supply should place a cap on price through

most of the third quarter - absent disruptions to traffic in the Straits of Hormuz or a military escalation with Iran”.

Global oil demand weakens seasonally in the second quarter after the end of the northern hemisphere’s winter heating season.

Commerzbank said an upward trend could resume later in the year should the US economy show more signs of recovery or should Washington approve a new money printing program.

Economic recovery

Analysts now expect Brent prices to average $114.30 per barrel for 2012, a four dollar increase from February’s $110.3 forecast.

Brent prices rose to an 11-month high this month of $128.40 per barrel, just $20 dollars shy of their all-time high of $147.50 a barrel set in 2008.

Despite early signs of economic recovery in the United States, some analysts including Frank Schallenberger at LLBW said they expected global oil demand to grow only marginally this year.

“Supply is also still not very tight with OPEC producing at a 3-1/2 year high. But on the other hand, the political tensions - Syria and especially Iran - are keeping prices up,” Schallenberger said, adding he estimates the “political premium” in current oil prices at $20 to $25 per barrel.

A Reuters report showed this week that global supply outages were totaling at least 1.1

Libya’s Agoco sees pre-war oil output in early April TRIPOLI: Libya’s Arabian Gulf Oil Company (Agoco) is producing around 331,000 barrels of oil per day (bpd) and hopes to reach full production in a few weeks, a spokesman said on Thursday. “We hope that we will reach our normal production at the beginning of April,” Agoco spokesman Abdeljalil Mayuf said by phone. “Everyday there is an improvement.”

The Benghazi-based company had previously said it expected to return to full output of 425,000 bpd by the end of February. However, electricity problems, mainly a delay in restoring full power at some oil fields, have meant this has been pushed back. “I think power is now under control, so we hope to push production up to our normal rates,” Mayuf said.

Agoco has said it is still operating within the framework of the National Oil Corporation despite moves in eastern Libya, where Agoco is based, for autonomy from Tripoli.

Earlier this month, civic leaders in the east declared they were setting up their own provincial council. “No there is nothing, no impact,” Mayuf said. “It is business as usual.” -Reuters

million bpd amid adverse weather, technical glitches and unrest in Syria, Yemen and Sudan.

Disruptions may grow as a European Union (EU) ban on Iranian crude takes effect on July 1 and Asian countries face pressure from Washington to cut purchases from Iran.

The International Energy Agency said in its March report Iran’s oil exports could be curtailed by between 0.8 and 1.0 million bpd from the middle of this year.

Some analysts believe the supply loss could be smaller as Asian buyers will step in to buy volumes diverted from Europe.

“Sanctions against Iran will deter only relatively small volumes of crude (around 500,000 bpd), paving the way for a significant build in global crude stocks,” said David Wech from JBC Energy.

“Later this year we will see potential for a considerable downward correction of crude prices as the physical market turns long,” Wech added.

OPEC leader Saudi Arabia is now pumping close to 10 million barrels per day, the highest in decades, and says it can quickly raise production to 12.5 million to fill any supply gap.

But analysts question whether its spare capacity cushion is actually that big and how the market would react even if Riyadh managed to quickly boost production. “Operating with lower spare capacity makes the market vulnerable to unplanned supply outages,” BNP Paribas’ Tchilinguirian said. -Reuters

Iraq denies technical fault in new oil terminal BAGHDAD: Iraq said on Thursday that weather, rather than a technical fault, was behind an interruption in the operation of a new offshore oil terminal designed to ramp up its exports and that a second tanker was about to begin loading there.

The new single point mooring (SPM) terminal came online on March 8 and loaded a tanker with two million barrels of oil by March 13 but has not operated since. Sources at the state-owned South Oil Company had blamed technical faults for the interruption, but Oil Minister Abdul Kareem Luaibi said that weather was to blame after storms hit the Gulf. “As we speak, a second vessel is on its way to the SPM, with a capacity of two million barrels,” Luaibi said.

Iraq, which has some of the world’s biggest oil reserves, has sweeping plans to increase its oil output and exports, which have been held back by a lack of loading infrastructure in the Gulf. Luaibi said he hoped average daily oil exports would exceed 2.2 million barrels in March even though the poor weather hurt loading at its Gulf ports.

The new terminal is the first of four being built by Australia’s Leighton Holdings with the aim to eventually more than double Iraq’s exports by adding 3.4 million barrels per day of total additional capacity.

Boosting output

On Thursday, Iraq inked a one billion

dollars oilfield service contract with South Korea’s Samsung Engineering for its West Qurna-2 oilfield, part of an initial development plan to start production of the field in the south. An official with Iraq’s state-owned North Oil Co., which has a 25 percent share in West Qurna-2, said output from its northern oilfields was expected to hit 900,000-1 million barrels per day (bpd) within three to four years. Production at the southern oilfields, run by the state South Oil Co., is seen hitting 6 million bpd in the next three years, said an official from the company, who also attended the signing ceremony with Samsung. The new SPM terminal’s initial operation was delayed for several weeks by poor weather. Iraqi officials say the second SPM terminal should be ready in April.

Iraq is also investigating whether there was any wrongdoing involved in Leighton’s bid for the project after the firm told Australian police one of its subsidiaries may have been involved in bribery. Leighton is cooperating with investigators.

Luaibi said Iraq was still considering whether to lift a ban on bidding by Exxon Mobil on new oil contracts, imposed because of its dealings with the autonomous Kurdish region.

Oil major Exxon last year announced a Kurdish exploration deal, angering Baghdad, which considers deals with the Kurdish region to be illegal. -Reuters

BUSINESS IN REGION

ALWATAN DAILY

UK budget’s hit on pensioners provokes ire LONDON: The British government faced an angry backlash Thursday to its decision to phase out age-related allowances, a move that’s been denounced as a “granny tax” to pay for tax cuts for the rich.

The morning newspapers made uncomfortable reading for George Osborne, the finance minister, who unveiled his budget a day earlier. The biggest headlinegrabbing initiatives were the cut in the top income tax rate from 50 percent to 40 percent, effective next year and a reduction in the corporation tax rate for businesses, that’s already encouraged drug maker GlaxoSmithKline to invest in its first new factory in England in forty years.

But, having digested the small print, many newspapers that traditionally back Osborne’s Conservative Party were up in arms on the impact on retirees.

“Osborne picks the pockets of pensioners,” said the Daily Mail headline, while the Daily Telegraph said Osborne had “mounted a 3 billion pounds ‘stealth’ raid on middle-class pensioners.” In a round of interviews Thursday morning, Osborne insisted that “no one loses any cash from this budget.”

Pensioners, he said, “will be better off because the basic state pension is going up in a couple of weeks time by over five pounds (eight US dollars) a week.”

Documents published alongside the budget indicate that the Treasury expects a windfall of around 3.3 billion pounds ($5.2 billion) through to the 2016-17 fiscal year from the changes to the tax allowances to pensioners.

“Anyone retiring in the future will face frozen personal allowances and tax rate thresholds meaning more of their income will be dragged into the tax net and more pensioners having to submit tax returns,” said Angela Beech, partner at the accounting firm Blick

Rothenberg.

While Osborne’s budget assumes that the British economy will grow by 0.8 percent this year, there was worse than expected news Thursday on retail activity.

The Office for National Statistics reported that retail sales fell by 0.8 percent in February, twice as much as expected. The January advance was also revised downward from 0.9 percent to 0.3 percent.

“The data puts a real dent in hopes that the consumer may be perking up appreciably and tempers hopes that Gross Domestic Product (GDP) will see a relatively decent return to growth in the first quarter,” said Howard Archer, chief European economist at IHS Global Insight.

While Britain’s retirees were working out how they would fare from the measures announced, businesses generally hailed the decision to cut corporation tax from 26 percent to 24 percent.

Drug maker GlaxoSmithKline was so cheered by the budget provisions that it announced Thursday it is to invest in its first new factory in England for 40 years.

It said it was investing 350 million pounds ($556 million) in a new factory in northwestern England, as well as improving two other factories.

The company said the move comes in the wake of Osborne’s move on taxes and well as his long-expected announcement that the government would begin phasing in a “patent box” next year, eventually reducing the tax rate on patent income to 10 percent.

“The introduction of the patent box has transformed the way in which we view the UK as a location for new investments, ensuring that the medicines of the future will not only be discovered, but can also continue to be made here in Britain,” said Andrew Witty, GSK’s chief executive. -Reuters

Celebrate spring with special 20% discount with Hilton HHonors DUBAI: Hilton HHonors, the loyalty program for Hilton Worldwide’s portfolio of ten distinct hotel brands, has launched a special Spring Sale across a number of selected hotels in Middle East and Africa (MEA), giving guests up to 20 percent off room rates.

For bookings made before April 6, 2012 and for stays taken before June 10, 2012, discerning travelers can take advantage of special discounts at over 53 participating Hilton Worldwide hotels in 17 destinations in Middle East and Africa.

This was mentioned in a press release on Thursday.

“With mini-breaks starting from as little as 375 United Arab Emirates (UAE) dirhams, why stay at home when you can enjoy first class service at a wide range of stunning hotels in our Spring Sale. It’s the perfect way to celebrate the new season and to make the most of every weekend during Spring.” said Oliver Schmaeing, director, regional marketing, Middle East and Africa, Hilton Worldwide.

Some of the premium participating hotels include:

* Hilton Luxor Resort & Spa - The TripAdvisor Travelers’ Choice Award winner is an oasis of serenity, set in an idyllic location where guests can lounge in a hammock overlooking the River Nile, taking in views of the majestic Temple of Karnak. * Hilton Ras Al Khaimah Resort & Spa - Nestled in a spectacular private bay at the northern tip of the Arabian Penin-

Ghafari Associates standardizes on Bentley’s ProjectWise CAPITALS: Bentley Systems, Incorporated, the leading company dedicated to providing comprehensive software solutions for sustaining infrastructure, announced in a press release on Thursday that Ghafari Associates, a leading full-service architecture and engineering organization with offices in the US, the Middle East, and India, has standardized on ProjectWise for collaborating on all

of its Building Information Modeling (BIM)enabled design/build and integrated project delivery (IPD) workflows.

Ghafari first deployed ProjectWise as a pilot to better support multi-team collaboration on a fast-tracked and complex design/build manufacturing facility project.

Following the many successes of this pilot project, Ghafari expanded its use of Pro-

jectWise’s proven capabilities and made it the system of choice for all of its collaborative projects.

Many of the Ghafari BIM-enabled design/ build projects that were managed by ProjectWise have received national and international recognition for their breakthrough results and improvements in all project metrics, including schedule, cost, and quality.

Company

ź

High

Low

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

1,080

1,060 460 730 640 880 250 425 860 540

Kw Investment Commercial Facilit.

Int'L Financial Adv. National Invest.

Kw Projects Ahlia Holding Coast Invest.

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

280 59 188 345 13.5 69 24.5 106 116 31.0 136 64 35 40.0 58 49.0 -

465 790 650 900 255 430 870 550

Global Index - Banking

Ÿ

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

22.5 28.5 70.0 190 30.5 70 55 62 132

280 57 176 340 12.5 65 24.5 102 116 31.0 134 60 33 38.5 58 45.0 244.0 98.0 22.5 27.5 67.0 188 30.5 70 55 59 128

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

540 -

510 -

Taiba Kuwaiti Holding

260.0 102.0

Global Index - Investment

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

59 112 142 244 41.0 110 102

1,020

88 15.5 65.0 92 65 68 92 19.5 43.0 80 148 43.5 33.0 37.0 22.0 57 345

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

244 138 450 -

1,380

325 880 114 375

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

58 112 142 244 40.0 110 99 1,000 81 15.0 63.0 90 62 65 89 18.0 42.0 75 146 42.0 30.0 35.0 21.0 54 320

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

244 132 445 1,380 320 850 114 370

ź ź Ÿ ŷ ŷ ŷ ŷ ŷ Ÿ ź

1080 465 790 650 900 255 430 860 550 330.92

110 280 59 178 345 13.0 66 25.0 130 24.5 230 106 116 50 52 31.0 134 61 33.5 71 40.0 48.5 64 26.0 242 58 38.5 51 45.5 100 260.0 99.0 22.5 28.0 68.0 29.0 188 255 114 30.50 85 70 55 59 64 42.50 132 85.72 290 560 540 148 220 122 40.50 44.91

59 112 142 222 32.5 244 118 100 40.0 110 102 1,000 81 15.0 65.0 91 64 65 79 36.0 89 18.0 87 17.5 43.0 57 80 146 42.0 32.0 36.0 24.5 21.0 134 134 220 54 345 56.88

244 132 450 130 1,380 320 156 880 190 114 370

1080 470 750 640 920 255 430 870 550 330.83 110 280 60 182 340 13.5 66 25.0 130 24.0 230 108 118 50 52 31.5 132 61 32.5 71 38.5 48.5 64 26.0 242 53 38.5 51 47.5 100 250.0 102.0 23.0 27.5 71.0 29.0 188.0 255 114 31.00 85 70 55 59 64 42.50 134 85.74 290 560 495 148 220 122 40.50 43.77 59 112 140 222 32.5 244 118 100 40.0 120 100 1,000 85 15.5 65.0 90 62 65 79 36.0 90 19.0 87 17.5 42.0 57 75 142 43.5 31.5 35.5 24.5 22.5 134 134 220 58 320 56.74 246 134 445 130 1,440 320 156 880 190 110 375

Previous Close Change 187.26 -0.27 -5.90 6,249.40 Trading Activity Chng Volume Tran. Value(KD)

DTD -0.15% -0.09%

Last Bid

Last Ask

MTD YTD 3.33% 4.28% 7.38% 1.90% Div. Annual Close Low P/E Yield High

1,710,000 1,970,000 85,000 75,000 1,185,000 260,000 960,000 1,695,000 110,000 8,050,000

52 45 4 5 25 12 24 68 8 243

1,832,150 907,750 66,450 48,100 1,048,150 66,000 408,450 1,458,400 60,200 5,895,650

1,060 460 740 650 900 250 425 850 540

1,080 465 790 680 910 255 430 860 550

3.7% 0.0% 1.9% 3.1% 1.6% 0.0% 0.0% 2.3% 0.0% 1.9%

1,220 510 790 680 920 260 480 900 590 330.92

1,060 465 700 630 790 236 425 820 550 317.17

15.63 33.49 90.92 18.50 31.43 24.25 12.04 24.50 104.63 19.14

40,000 -1 10,760,000 -4 8,840,000 5 540,000 0.59,360,000 11,800,000 1 160,000 -2 2,640,000 -2 840,000 0.580,000 2 6,020,000 11,800,000 1 14,160,000 2 240,000 40,000 5 61,680,000 2.09,840,000 10.0 3.03,800,000 0.580,000 4,560,000 0.5 3.020,640,000 480,000 -0.5 400,000 440,000 40,000 8,520,000 -2 2,500,000 0.02- 190,300,000

2 98 217 22 60 132 2 71 17 1 60 154 118 3 1 425 199 72 1 48 282 15 5 7 1 126 69

108 275 58 178 340 12.5 65 23.0 102 116 30.5 132 60 33 40.0 64.0 51 45.0 255.0 99.0 22.0 27.5 68.0 186 31 80 69 52 59 128.0

110 285 59 180 345 13.0 66 25.0 230 106 118 31.5 134 61 34 40.5 67.0 244 45.5 260.0 100.0 23.5 28.0 69.0 188 33 85 70 56 60 132.0

0.0% 7.9% 0.0% 0.0% 5.8% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 8.6% 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% 3.2% 5 1% 5.1% 0.0% 0.0% 0.0% 0.0% 0.0% 8.5% 0.0% 0.0% 0.0% 2.3%

112 285 67 182 345 18.5 69 25.0 130 36.0 230 122 120 50 52 35.5 140 65 35 71 44.0 48.5 70.0 26.0 244 58 39 51 47.5 104 260.0 130.0 25.0 33.5 96.0 29.0 190 255 114 32 89 73 60 59 64 42.5 140.0 85.99

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 26.0 242 51 36 51 26.0 61 99.0 19.5 19.0 16.0 38.0 29.0 154 255 114 26 58 50 51 47 64 42.5 112.0 74.96

42.09 13.02

2,208

11,200 627,520 1,616,000 183,650 122,400 795,120 3,920 275,840 97,440 2,480 813,080 736,200 484,800 9,360 2,320 2,897,240 2,472,930 378,240 1,800 127,520 1,416,880 90,560 12,200 30,800 2,200 517,520 326,440 14,055,660

300 580 540 148 43.0

6.9% 4.5% 4.6% 6.8% 2.7% 0.0% 0.0% 4.6%

325 610 540 148 220 134 40.5 44.91

280 550 450 102 220 102 40.5 42.22

15.14 12.90 11.03 23.37 296.83

45.72 14.37 25.43 19.79

-5 40 10 -20 -10 0.09

45 Ex-D 1.14

40,000 40,000

5 5

20,900 20,900

290 510 530 29.0

2 -

1,360,000 240,000 360,000 20,000 2,240,000 20,000 140,000 255,000 560,000 8,240,000 7,680,000 4,880,000 4,400,000 5,040,000 1,920,000 1,200,000 240,000 160,000 580,000 19,680,000 2,960,000 4,720,000 12,080,000 280,000 13,400,000 92,655,000

25 5 14 1 24 1 4 15 13 59 66 41 87 84 39 15 3 4 18 128 35 57 114 7 280

1,139

78,960 26,880 51,120 4,880 90,960 2,200 14,000 258,100 46,960 123,720 494,480 443,400 282,000 332,680 173,400 22,680 10,240 12,200 85,320 835,520 95,520 171,320 257,280 15,440 4,527,050 8,456,310

57 112 142 220 240 128 40.0 100 1,000 83 14.5 63.0 91 62 64 88 18.0 87 41.0 70 144 42.0 31.5 35.5 23.0 20.5 32 54 345

59 114 144 222 35.0 248 106 40.5 114 102 1,020 84 15.5 64.0 92 64 65 90 18.5 43.0 58 148 42.5 32.0 36.5 26.5 21.5 35 56 -

0.0% 0.0% 0.0% 9.0% 0.0% 4.1% 0.0% 5.0% 0.0% 6.4% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.7% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.7% 0.0% 0.0% 0.0% 0.0% 1.0%

63 118 152 224 37.5 250 130 100 52.0 120 104 1,020 85 20.0 67.0 94 75 67 90 38.0 92 23.0 91 17.5 45.0 59 80 146 52.0 39.5 39.0 28.5 25.5 134 34 220 70 480 57.24

47 97 108 200 32.5 224 114 77 27.0 108 94 840 62 11.0 35.0 77 56 52 79 33.0 59 13.5 87 17.5 31.0 57 64 116 27.5 22.0 25.0 24.5 15.0 134 31 220 49 270 49.06

1,900,000 2,680,000 30,000 47,500 40,000 25,000 20,000 20,000

44 91 3 13 4 4 1 2

463,600 361,480 13,450 65,550 12,900 21,800 2,280 7,450

242 132 435 128 1,360 315 148 870 180 110 370

244 134 455 130 1,380 320 158 880 200 116 375

0.0% 0.0% 2.2% 3.8% 4.7% 3.1% 3.2% 11.4% 5.3% 0.0% 5.4%

260 136 470 158 1,480 345 222 920 200 120 495

214 120 415 130 1,380 310 146 660 180 102 370

-

-

10.02 -4 0.51 2 -1 1.01.0 5 4 -2 0.5 0.5 1.5-4 25 0.15 -2 -2 5 Ex-D 4 -5

Ghafari is currently using ProjectWise to manage AECO content in over 450,000 documents and to serve the collaboration and work-sharing needs of more than 2,500 users from 200 companies - all in a trusted, secure environment.

Ghafari CIO Robert Bell said, “Our BIM integrated project delivery model leverages the power of ProjectWise to fully manage and

* Hilton Nairobi - With its central location, Hilton Nairobi is the perfect hub to take in the Kenyan capital’s many charms; from shopping at the crafts market to enjoying a safari at the Nairobi National Park. * Hilton Seychelles Labriz Resort & Spa - As the only hotel on Silhouette Island in The Seychelles, Labriz Resort & Spa is a true paradise getaway. The 111villas and jungle style spa are set against a stunning backdrop surrounded by tropical flora and fauna.

integrate our project teams. ProjectWise allows us to collaborate among our global office locations, as well as with the entire project team, by leveraging ProjectWise caching server technology that provides immediate access to up-to-date project data.

ProjectWise is the only way to ensure the right people have access to the right information at the right time.”

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 186.98 6,243.50 Last Prev.

Close Close

sula, the resort resides on a one kilometer stretch of pristine soft white sandy beach, providing the ultimate backdrop of tranquility. * DoubleTree by Hilton, Aqaba: Sitting on the Southern coastal tip of Jordan, this hotel is the perfect location to explore the wealth of extraordinary delights of this amazing country. * Hilton Durban - Nestled on the Southern tip of this wild coastline, Hilton Durban is a luxurious oasis near to vibrant nightlife and a stunning beachfront.

Date of Closing Prices:

Date of Closing Prices: 22 / 03 / 2012 For more information please contact “Global” at (+965) 180 42 42 or www.globalinv.net ź

A handout picture of Hilton Seychelles Labriz Resort & Spa.

Trading Prices of Kuwait Stock Exchange Date of Closig Prices: 22/03/2012

Trading Prices of Kuwait Exchange Trading Prices of Kuwait StockStock Exchange

Global General Index KSE Price Index

11

FRIDAY, march 23, 2012

93.11 13.95 1.39 0.00

0.00 0.00 0.00 0.00 0.00 0.00 30.41 0.00 132.83 0.00 0.00 0.00

0.00 9.86 22 77 22.77 11.92 53.75

0.00 5.36 12.95

13.05

17.65 6.45 15.57 41.69 25.23 0.00 16.99 31.68

5.33 26.96 12.99 6.34 42.45

23.07 18.82 0.00 0.00 18.79 74.23 18.38 6.30 7.66 142.64 117.52 11.52 25.37 21.53

ACICO

212

Global General Index 91 United Industries 620 Boubyan Petroch.

KSE Price Index

1,200 Gulf Glass HilalCompany Cement High 340 Al Kout Ind. Project 1,140 National K-PAK Bank Gulf BankMaterial 495 Building Commercial 770 310 Nat. Ind.Co.Bank Ahli Bank 640 Equipment Holding Ahli United Bank 850 Mena Holding International Bank 248 Consumer Industries 460 Burgan Bank Kuwait Gypsum 890 Kw Finance House 220 Qurain Bank Boubyan 590 Salbookh Trading 49 Global Index - Banking 206 IKARUS Kw Investment 79 Boubyan Int'L Ind.

212 90 610 1,200 Low 340 1,120 490 770 310 640 800 248 455 880 216 580 46 204 74

ź źŸ źŷ ź ŷ

ŷ ŷ ŷ ŷ ź ź ŷ Ÿ ŷ ŷ ŷ ź ź Ÿ ŷ Ÿ ź ź ŷ Ÿ 260 źź 40 ź 170 - źŷ 300 - Ÿŷ 405 ŷŸ 12.5 52 55 źź -870 ŷŷ - ŷź 75.0 - ŷŷ - - ŷŷ 142 ŷź 108 120 ŷŷ - ŷŸ 99 - ŷŷ - ŷ 2,160 - ŷ 116 ŷ ŷ 108 - ŷŷ 350 49 źŸ - - ŷŷ

265 Commercial Facilit.

Global Index - Industrial 41 Int'L Financial Adv. NationalInvest.

Cinema 174 National KwProjects Hotels Kw 300 Agility 410 Ahlia Holding 13.5 Coast Invest.

53 57 Market Complexes -890 Int'L Investor ZAIN Securities House 76.0 Safat Energy Ind. & Fin. Inv.Group Educational -Securities Group Indep. Petroleum Int'L Finance 150 National Cleaning 110 MARKAZ 120 Sultan Center KMIFIC 104 Arabi Group Int'L Inv. Group City Group Aref Inv. Group 2,220 Wataniya Tele.

Investment Dar 116 Kw Gulf Link Al AMAN Inv. Kw Cable ALOLA Inv.Vision 110 350 Automated ALMAL Inv. System 50 NAPESCO -Gulf Inv. House 275 KCPC Leasing 275 - ŷ A'ayan K.S.HInv. 32.5 - 31.0 - ŷŷ Bayan Eyas - ŷŷ GLOBAL Inv. Hits Telecom -104 - 99 ŷź Osoul Inv. 19.0 Al Safwa Holding -18.5 ŷź GULFINVEST KFIC Human Soft - ŷŷ KAMCO - ŷŷ Privatization Holding 82 81 Int'l Leasing & Inv. - ŷŸ Nafaaes Holding 106 102 - - ŷŷ Nat. Int'l Holding -National Slaughter - ŷź Housing Finance 108 Aref energy 108 MADAR - ŷŸ 630 Safwan 630 26.5 Al Deera Holding 26.5 61.0 Gulf Petroleum 59.0 ŷŸ Al Safat Inv. -Gulf Franchising - - ŷŷ 122.0 Al Salam Credit & Group Collection - 114.0 - Ÿŷ 39.0 ź 41.0 Ekttitab Holding National Ranges 18.5 17.5 ŷ Al Qurain Holding ŷ 270 Burgan Well Drilling 265 Ÿ 16.5 Sokouk Holding 16.5 ŷ 415 IFA H&R 385 ź Al-Madina Finance 40.0 38.5 ź 1,560 1,540 Combinted Group ź NOOR ŷ Jeeran Holding Tamdeen Inv. 160 158 - źŷ Palms KW BH Agro Int'l Exch.

-- - ŷŷ 70.0 SafatKuwaiti TEC Holding 68.0 Taiba - ŷŷ 86 86 Mushrif Trading Kuwait Syrian - ŷź UPAC 320 320 Strategia - ŷŸ 310 ALAFCO 305 53 53 ŷŷ Kuwait China Inv. Al-Muwasat -- - ŷŷ Manafae Inv. Gulf NorthHolding Africa - ŷŸ Mashaer 270 255 Amwal - ŷź Oula Fuel 275 275 Al MasarComm.

Future - ŷŷ 124 Al-Imtiaz 132 Hayat Comm.

84 źŸ 85

Global Index - Investment Mubarrad Transport 64

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

56.0 --470 112 242 --290 Al Nawadi Global Index - Insurance Alrai Media 124 Kuwait R.E. 48 Zima Holding United R.E. 100 -

63 56.0 --465 108 242 --285 120 48 100 -

Global R.E. Index - Services 118 National 126 200 Salhia R.E. Trans.

204 LiveStock 182 182 - 97 Pearl - 99 DanaR.E. Al-Safat 224 224 Tamdeen R.E. United Poultry Ajial R.E. 1,500 1,480 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 85 82 75 74 INJAZZAT RE Gulf Cement 95 98 Inv. UmHolding QuwainGrp Cement 12.0 71 11.5 70 - 90 - 90 Int'L Resorts Fujaira Cement 78 77 Commercial R.E 120 Ras AlKheimah 120 70 65 Sanam R.E. ARIG 54 53 Aa'yan R.E United Gulf Bank Aqar Egypt Kw Holding Kuwait R.E Holding Bahrain Kw Ins. 59 AL Mazaya 60 Gulf Fin. House 64.0 61.0 14.0 Al Dar National R.E 14.0 Inovest Int'L Holding 65 60 Themar -188 Grand R.E Projects -190 Ahli United Bank -26.5 Tijara & R.E Invest Ithmaar Bank 27.5 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 Manazel 15.5 43 Ajwan Real Estate 40 REAM Specialities Group 400 415 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

źŷ Ÿ ŷ ŷ ŷ ŷ ŷ źź ŷ ŷ ŷ ŷ ŷ źŷ Ÿ ź Ÿŷ Ÿź źź ŷ ź ź ŷ ŷ ŷ ŷ ŷ ź ŷ ŷ źź Ÿŷ Ÿź źŷ ŷ ź Ÿ ŷ ź ŷ ź ŷ ŷ ŷ ź źŷ Ÿ ŷ ŷ ź ŷ ź ŷ ź ź ŷ ŷ ŷ ź ŷ ź ŷ ź ŷ ŷ ź ź ŷ ŷ ŷ ŷ ŷ źŷ Ÿŷ źŷ ź ŷ ŷ ŷ ź

ŷ ŷ ź ŷ ŷ ŷ ŷ ź ŷ

Last Close Close DTD MTD YTD 212 214 -Previous 2 40,000 2 Change8,480 210 212 4.7% 224 196 24.45 -0.40% -1.55% 177.24 -0.7068,520 -1.55% 90 176.5389 1 760,000 18 89 91 0.0% 102 89 32.71 - 5,754.20 377,100 6205,726.90 12 -27.30 620 615,000 610 5.6% 620 550 88.41 -1.50% -0.47% 620 -1.50% 1 3,000 1,200 1,400 200 2,500 1,200 3.3% 1,400 1,200 18.04 Last Prev.

Trading Activity Div. Annual Close Last Last 216 216 226 4.6% 216 206 11.21 Close Close Volume Tran. Value(KD) Bid Ask Yield High Low P/E Chng Ex-D 3,400 340 1 350 10,000 320 5.9% 350 340 7.54 3,796,050 - 1,120 - 1120 1120 69 3,377,500 1,140 1,120 14.74 275 275 255 300 3.6% 7.3% 300 1,100 275 13.23 20 495 495 830,000 407,950 490 495 - 0.0% 510 490 33.95 224 224 Ex-D 0.0% 228 224 27.09 770 770 10,000 11 7,700 --5 770 780 790 770 88.62 315 10,000 3,100 310 2.6% 260 325 19.89 310 320 1.9% 640 -20 2 6,400 660 10,000 64096 660 - 3.1% 66091 64051 17.34 91 91 0.0% 43.61 800 50 850 350,000 23 282,700 840 850 1.6% 850 790 29.68 33 33 0.0% 33 33 0.00 16 248 248 700,000 173,600 246 248 0.0% 255 248 23.59 102 102 102 102 93 0.0% 460 465 -5 500,000 10 229,750 460 465 0.0% 475 460 12.26 128 Ex-D 128 128 17.06 128 9.4% 890 -10 880 1,280,000 66 1,127,050 880 2.3% 900 880 25.07 870 462,320 218 214 2,120,000 222 216 218 0.0% 210 112.24 8.79 0.0% 590 590 607,850 -4 1,035,000 3344 590 580 590 590 69,480 17 48 48 1 1,440,000 51 41 47 48 0.0% 319.37 319.54 8,092,500 6,639,050 2.0% 319.54 318.41 18.61 0.17240 20,560 100,000 4 -2 204 206 214 162 11.98 204 206 0.0% 106 106 -2 10276 10677 0.0% 10688 10670 40.56 75 380,640 4,920,000 93 77 0.0% 260 265 -5 250,000 14 65,750 260 265 8.5% 265 260 12.09 14,780,000 355 173.29 174.89 163.04 10.89 173.18 0.112,345,110 2.7% 40 1,020 170 280 300 410 12.5 52 56 25.0 880 130 76.0 31.0 110 230 305 102 144 108 120 50 104 44.0 550 52 2,160 74 116 28.5 63 108 350 49 345 23 275 71 260 31.0 260 48.5 102 68 19.0 20.5 26.0 270 244 82 94 104 51 154 36 108 51 630 26.5 61.0 75 26.0 120.0 120 39.5 18.0 19.0 265 16.5 395 38.5 1,560 29.0 73 158 118 255 69.0 114 86 26.00 320 68 310 53 130 60 46.5 270 64 275 42.50 285 128 84 75.90 63

56.0 325 640 560 370 485 470 110 242 220 114 98 40.50 285 87 43.43

124 48 100 100 788.10 124 200 182 37.5 99 224 130 120 1,500 82 340 30.0 560 108 362.46 97 860 85 75 95 11.5 70 38.0 90 78 120 65 132 54 228 90 330 38.0 455 59 62.0 14.0 91 64 17.5 188 31.0 26.5 59 46.43 70 122 48.5 124 28.0 144 23.5 106 25.5 250 27.0 20.5 15.5 40 134 410 134 51 220 345 57 106 295 2,260 49.73 48.0

232 93.0 128 65 450 65 150 1,420 335 212 720 180 ź 104 ź 460 ź

41 1,020 172 280 295 405 12.5 53 57 25.0 880 130 78.0 31.0 110 230 305 102 150 112 120 50 98 44.0 550 52 2,240 74 116 28.5 63 108 330 49.5 345 23 275 71 260 31.0 260 48.5 104 68 19.5 20.5 26.0 270 244 82 94 102 51 154 36 110 51 610 26.5 60.0 75 26.0 112.0 120 41.5 18.0 19.0 255 16.5 410 39.0 1,560 29.0 73 160 118 255 69.0 114 88 26.00 310 68 310 53 130 60 46.5 255 64 280 42.50 285 130 83 76.02 63

54.0 325 640 560 370 485 480 118 242 220 114 98 40.50 285 87 43.63

120 49 100 99 792.41 120 204 184 37.5 100 234 130 120 1,500 82 340 30.5 560 108 362.82 98 850 85 73 98 12.0 70 38.0 94 77 120 70 132 55 228 90 330 38.0 455 63 62.0 14.5 91 62 17.5 190 31.027.5 59 46.84 74 122 48.5 124 28.5 144 24.5 106 26.0 250 27.0 20.5 16.5 42 134 410 134 51 220 345 58 106 290 2,260 49.75 48.0

1,680,000 1,040,000 110,000 780,000 5 7,040,000 1,280,000 -1-1 4,360,000 6,285,000 4,560,000 2.0- -- -1,100,000 6.0- 680,000 520,000 -6 760,000 60,000 Ex-D 1,180,000 - 500,000 10,000 20 -1 320,000 - - 10,000 Ex-D 1,840,000 - - 23,200,000 - -2 8,880,000 - -1 - - 3,400,000 -2 600,000 - - --2 160,000 20 5,000 - 1.0 240,000 1,840,000 - -8.0 - 11,180,000 2.01,920,000 7,520,000 10 30,000 480,000 120,000 15 0.510,640,000 82,500 - -15 2.0- 80,000 - -400,000 2.080,000 10- 0 10 000 10.0 10,000 420,000 - 200,000 - - 3,930,000 15 --5 20,000 - - -1.0 2 1,240,000 600,000 0.12- - 40,720,000 840,000 -1 -2 5 -

2.0 -- 10 --8 Ex-D - - 0.19- -1 4 1 4.314

13 20 5 4631 2284 143 40 - - 32 1819 21 12 31 14 41 - -1 22 - 335 56 - 46 29 - -8 -1 228 - 212 24 45 3 5 12 93 -7 4 - -9 -2 -1 218 - 100 -2 - 3814 55815

40,000 -1 - - - - 80,000 120,000 66 20,000 -1 - - 24 330,000 120,000 6 180,000 19 80,000 9 920,000 1,187 72,412,500 105 3,100,000 12 520,000 1 20,000 -29 1,720,000 3 100,000 17,500 6 1 80,000 1,757,500 320,000 836

-4-2 --1 10.00.50.35-1 10 1,935,000 57 3 120,000 218 120,000 2-3 1,000,000 1516 0.5- 2,000,000 1,200,000 -1 - -4 40,000 3 1 240,000 100,000 2 17 1,000,000 -5 4 -1 200,000 Ex-D Ex-D 11 440,000 -4 28,560,000 349 1 80,000 0.5- 14,680,000 168 2 - -2 560,000 11 - -1 8,800,000 78 0.4155,060,000 646 -4 320,000 2 - - - - 12 0.52,720,000 1.080,000 1 0.5240,000 3 Ex-D 35,040,000 4 1,200,000 8 1.017 1,440,000 - -3 410,000 19 - - - -1 240,000 6 47 5 2,110,000 0.02- - 53,085,000 - 332 -

Ex-D

-

-

242 -10 13,220,000 - 154 93.0 128 140,000 6 65 470 -20 50,000 2 65 150 - - - 1,850,000 1,460 -40 2,500 136 335 5,819 212 - 435,055,000720 Close 230,000 19 Prev Close Prev.

180 196.64 196.83 106 -2 80,000 3 194.64 460 194.51 -

572.65

576.95

67,160 40 960 177,720 168 33,000 295 317,400 90,920 405 12.5 67,280 245,120 5155 - 870 5,543,800 342,880 76.0 - - 305 158,880 142 73,920 106 62,400 118 77,120 102 130,050 2,160 136,880 116 27.0 54,920 108 3,500 310 15,840 49 355 - 21 2,750 275 58,760 31.0 - 2,337,560 100 64.0 167,240 -19.0 - -81 275,480 62,280 102 - 164 17,280 106 - 3,150 6,360 26.0 110,640 60.0 - 24.0 1,305,280 - 118.0 77,080 135,560 17.5 18.0 8,000 7,920 16.0 47,050 385 419,440 38.5 127,250 1,560 12,680 15673 112 - 27,640 68.0 6,880 -85 3 200 3,200 305 63 128,250 305 10,600 52 - - 1,039,050 260 5,500 275 - - 260 157,920 50,960 124.084 2,702,550 53,120 62

2,240 - - 37,300 13,200 4,840 - 94,300 13,200 21,760 3,840 92,000 11,787,310 383,920

104,680 3,640 168,360 22,400 26,200 2,400 198,200 31,160 1,656,950 10,040 8,960 96,720 23,960 84,040 3,600 18,520 12,000 67,400 10,720 - 26,160 1,770,640 1,120 922,960 105,400 236,440 3,241,840 22,400 - - 76,880 1,880 6,160 946,080 19,240 59,360 167,400 - 13,520 610,850 4,151,200 -

-

52.0 300 510 360 460 465 108 242 - - 280 85 118 48 99 -

122 200 180 - 98 126 110 1,480 112 95 86084 7184 11.595 35.570 77 90 116 53 - 218 305 13.5 9061 - 62 30.0 188.0 70 116 28.0 23.5 25.0 24.5 18.5 15.5 - 400 29 218 55 29084

-

-

3,111,120 -17,800 122 22,550 455 - 150 226,760 3,550 1,420 310 46,000,980 165,600 Change 710 178 -0.19 8,480 104 -0.13 435

-4.29

40

0.0%

1,000 3.9% 172 0.0% 0.0% 300 - 6.7% 410 0.0% 9.8% 13.0 5256 0.0% 0.0% - 880 0.0% 22.7% 0.0% 0.0% 77.0 33.5 - 0.0% 0.0% 0.0% 325 9.8% 0.0% 0.0% 144 110 0.0% 122 9.3% 0.0% 0.0% 104 0.0% 570 0.0% 0.0% 2,180 2.3% 0.0% 0.0% 118 29.5 0.0% 0.0% 11067 0.0% 7.1% 350 50 0.0% 5.8% 24 - 0.0% 1.8% 280 0.0% 6.0% 32.5 - 0.0% 3.8% - 0.0% 0.0% - 102 0.0% 0.0% -19.5 0.0% 0.0% - 0.0% 23882 0.0% 0.0% 0.0% 0.0% 104 54 - 0.0% 5.2% 0.0% 0.0% 108 0.0% 640 3.5% 0.0% 27.0 61.0 0.0% 0.0% 26.5 0.0% 120.0 130 0.0% 0.0% 39.0 0.0% 18.0 0.0% 20.0 0.0% 0.0% 270 16.5 0.0% 0.0% 395 0.0% 39.0 1,580 4.5% 0.0% % 0.0% 3.8% 160 6.8% 120 5.1% 270 69.0 0.0% 0.0% 0.0% 2787 0.0% 9 4% 320 0.0% 9.4% 73 3.2% 310 0.0% 53 160 0.0% 5.4% 61 47 270 10.8% 0.0% 69 280 0.0% 0.0% - 285 0.0% 8.8% 128.085 0.0% 11.9% 64 2.4% 0.0% 57.0 6.2% 0.0% 325 0.0% 610 - 4.5% 380 5.2% 2.7% 500 470 9.1% 0.0% 114 244 0.0% 2.7% 110 0.0% 106 0.0% 43.0 290 0.0% 1.8% 5.7% 90 4.7% 0.0% 126 49 0.0% 110 0.0% 0.0% 100 11.5% 126 0.0%

202 0.0% 186 10.0% 37.599 0.0% 5.1% 224 - 4.5% 0.0% 0.0% 130 4.3% 1,500 6.1% 85 1.5% 365 0.0% 31.5 3.6% 570 6.5% 118 3.9% 0.0% 98 87085 0.0% 5.9% 7685 0.0% 10.5% 12.096 0.0% 0.0% 37.071 0.0% 0.0% 0.0% 79 92 8.3% 0.0% 65 120 5.7% 0.0% 54 132 0.0% 0.0% 91 228 9.1% 0.0% 40.5 325 0.0% 7.7% 60 0.0% 14.5 0.0% 0.0% 9462 5.5% - 64 0.0% 5.3% 33.5 190.0 0.0% 0.0% 57 0.0% 3.9% 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% 21.5 0.0% 16.0 0.0% 40 3.7% 130 1.7% 410 0.0% 32 0.0% 51 0.0% 0.0% 57 - 0.0% 0.0% 99 0.0% 295 - 1.1% 0.0%

48.5

232 93.0 130 70 465 -70 1,440 340 216 720 DTD 190 -0.10% 108 -0.07% -

-0.74%

0.0%

0.0% 0.0% 0.0% 0.0% 2.2% 7.7% 3.3% 0.6% 4.6% 3.0% 4.56% 2.4% 13.9% 5.6% 0.0% 4.3%

42 40 990 1,120 174 170 280 280 305 295 430 340 13.5 12.5 5465 5241 25.0 25.0 900 840 130 130 81.0 45.0 36.0 31.0 110 110 230 230 295 345 102 102 152 110 116 108 108 136 50 5084 104 44.0 44.0 530 550 52 52 1,920 2,280 74 74 95 126 28.5 28.5 11268 10863 230 350 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 23.5 14.0 20.5 20.5 26.0 26.0 280 270 24484 24461 94 9490 104 51 51 154 154 36 3691 120 51 51 520 710 26.5 27.5 30.0 74.0 75 75 28.5 16.0 99.0 120.0 140 120 19.5 41.5 19.5 12.0 19.0 19.0 275 198 17.0 16.5 490 395 39.0 38.0 1,580 1,500 29.0 29.0 89 15673 162 118 25586 255 75.0 57.0 114 114 104 2680 28 340 270 68 68 280 315 53 55 130 130 60 60 47 47 172 270 64 64 265 305 42.5 42.5 265 300 132.089 128.070 76.32 72 75.90 51

56.0 44.0 325 325 640 640 560 560 390 345 520 485 480 410 118 110 270 236 220 220 134 11498 114 40.5 40.5 295 218 44.80 92 43.43 80 116 156 49 48 100 110 100 99 792.41 744.62 120 128 200 208 182 222 37.5 37.590 114 234 224 130 126 130 120 1,500 1,420 82 82 390 340 30.5 30.0 570 500 108 108 365.22 345.74 100 96 86095 84044 76 7355 108 12.573 11.543 38.0 38.0 122 46 78 77 126 118 75 65 132 132 54 55 188 232 90 90 330 250 38.0 38.0 455 455 63 59 40.5 74.0 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-

-

232 260 130 128 470 450 158 150 1,460 1,420 340 335 212 222 710 740 MTD 180 3.56% 180 104 116 4.32% 460 460

1.83%

17.46 88.93 12.13 13.65 1.33 0.00 13.48

23.89 0.00 19.39 0.00 25.70 0.00 55.09 0.00 13.98 0.00 0.00 0.00

17.48 6.56 9.57 0.00 11.97 9.19 376.60 32.31 0.00 13.80

13.46

0.00 116.80 9.60 0.00 0.00 15.65

5.62

0.00

0.00 74.45 86.17 17.06 0.00 3.02 8.28 10.09 22.77 11.92

9.71

59 62 59.62 43.00

5.17 7.80 8.91 23.31 0.00 17.39

5.19 10.01

3.92 16.97 25.05 12.90 11.90 9.91 8.38 17.37 16.90 296.83 10.92 7.52

6.25 12.60

11.07 37.20 12.83 12.66 22.21 17.83 16.20

5.72 11.88 22.14 10.39 15.28 11.59 39.65 5.29

21.70

0.00 14.56

9.60

26.32

35.62 7.50 8.10 41.28 4.15 10.07

19.44 83.29

10.59

11.37 0.00 5.38 27.28

20.67 9.93 23.07

14.07

18.82 63.06 0.00 11.03 0.00 16.27

19.25

70.58 18.38

13.19 6.49 8.02 14.95 193.84 96.15 YTD 10.91 3.74% 23.15 2.32% 26.77

1.90%

STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY friday, march 23, 2012

April 21, 2009 March 22, 2012

1% 6%

2% 6% Oman

0%

95

Kuwait

-4%

-1%

-6%

90

GCC Best Performers

Saudi

95 22-Dec-11 85

22-Jan-12

22-Feb-12

Abu Dhabi

-1%

22-Mar-12

-6% -2

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

MENA Best Performers 1

Period's Liquidity 1 Ratio (PLR x)

-1

MENA Indices Highlights Country (Index)

Index Level

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

Index 7,540 Level

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

2,568 5,250

Ku Kuwait (KSE Weighted Index)

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

QaUAUAE Qatar (DSM Index) (ADSM Index) OmOman UAE(MSM (DFMIndex) Index)

423

1,660 406

8,653 2,695

5,958 1,745

BaQa Bahrain Qatar (BSE (DSMIndex) Index)

1,148 5,590

Jo Jordan (Amman General Index)

1,994

Eg Egypt (EGX 30 Index)

OmOman (MSM Index)

Ba Bahrain (BSE Index)

M Morocco (Casa All Shares Index)

Eg Egypt (Hermes Egypt Index (HFI))*

Le Lebanon (Beirut SE Index)

Jo Jordan (Amman General Index)

Pa Palestine (Al-Quds Index)

M Morocco (Casa All Shares Index)*

Tu Tunisia (Tunis SE Index)

Le Lebanon (Beirut SE Index)* *Market Closed

Pa Palestine (Al-Quds Index) * Market Closed

5,137

5,478

1,681

10,994

463

1,214

2,825 484

10,621

4,780

1,094 546

Tu TunisiaClosed (Tunis SE Index)* * Market

3,282

% Chg.

52 Wk High

YTD

% Chg.-

17.5% YTD

-0.1%

4.3%

-1.0% -4.0%

2,775 10,090

-1.4% 12.8%

8,892 5,148

22.7% -0.2%

0.6% 1.9%

4.6% 6.6%

0.1% 3.9%

0.4% -18.8%

0.1%

41.8%

5.1%

0.7%

-0.3%

0.1%

0.4%

0.0%

0.0%

-6.8%

-1.1%

-

8.5%

3.2%

2.2%

-0.3%

0.0%

2.4%

1.5%

-

-

Turnover USD million

Mkt.397,110 Cap. USD million

2,293 4,130

24 2,183

65,523 264,263

8,071 2,137

92 122

124,303 69,783

0 196

17,212 65,352

396

165

1,754 787

1,301 316

6,406 5,860

5,419 1,433

11 305

3,587

49

1,433 12,627 5,628

12,109 2,246

2,903

4,224

1,572

10,785

5,044

2,551

1,425 513

328

1,164 465

4,785

4,091

23.6%

739

407

2,119

13.6%

-

9,406

3,418

-

1,043

-

2,837

-

4

4

9,625

1.68

1.63

8.07

1.29

3.51

1.56

6.45

0.89

12.71

2,545

2.15

9.49

59,990

1.19

18.36

3.95

14.71

8,507

2

1.38

15.99

10,539

33,782

1.68

6.47

2,079

0.86

8.67

6,576

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

KWD 2.160 SAR 22.95

225 Saudi Industrial Inv. Grp.

101 Riyad Bank

% of stocks trading above 1yr avg. price 119

SAR 24.70

-6.4%

12,887,893

10,577,911

MA Masraf Al Rayan (QA)

343,553,085 7,842,437 119,955,261 7,246,862

115 Alinma BRE BarwaBank Real (KSA) Estate Co. (QA)

97,126,838

NBKNational Bank of Kuwait (KUW)

-

Turnover (SAR '000)

115

1,489,320,062

Market Cap. (SAR '000)

114

#N/A

#N/A

#N/A

#N/A

#N/A #N/A

Highest Turnover

105

88,742,222

#N/A

#

#N/A

#

22-Jan-12

22-Feb-12

S&P GCC Large/Mid Composite

22-Mar-12

#

64,280,166 Close

#N/A

#N/A

% Chg. #N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

Worst Performers Turnover (SAR) 1120.SSE Al Rajhi Bank #N/A #N/A #N/A #N/A #N/A #N/A

1 Al Rajhi Bank

#

-6.8%

Turnover (USD)

201 Saudi Industries Corp.

(KSA) DFM DubaiBasic Financial Market (UAE)

7,616 / 5,916

Tadawul Index 52 week High / Low

-3.6% -8.9%

19,870,251

TAMTamweel (UAE)

#N/A

-5.0%

Turnover (USD)

MENA Highest Turnover

-

Advance/Decline Ratio

% Chg.

-3.1% -8.6%

ZAI Zain Kuwait (KUW)

93%

3.3%

8.0%

QAR 28.00 SAR 48.00

SAR 13.70

GCC Highest Turnover

7,540 (0.0%)

Tadawul Index (% Chg.)

125

3.9% 8.6%

KWD 0.395 -13.1% -3.7% KWD 0.265

EMAEmaar Properties (UAE) Best Performers

Summary

5.1% 8.8%

KWD 1.380% Chg. -4.2% Close

KFI Kuwait Finance House (KUW)

Rebased Performance

95 22-Dec-11

AED 8.51

CABGulf Cable and Electrical Industries Co.

5.3% 9.8%

8.0%

Close

NBANational Bank of Abu Dhabi

0.88 201 BRE Barwa RealIndustries Estate Co. 1.74 Saudi Basic Corp.

9.50

7.67

MENA Worst Performers

1.88 FAC IFACommercial IFA Hotels & ResortsCo. 1.37 Facilities 1.63 NM Wataniya 0.88 238 Rabigh Petrochem.

9.30 8.85

63,640

67 0

0.79 1.52

10.03

59,969

0

10.39 9.99

1.03 1.77

OMR 0.720

GCC Worst Performers

2.05

10.96 6.87

18,727

2

QAR 21.60

BKMBankMuscat

PB

PB1.47

13.76

AED 1.27

QGTQatar Gas Transport Co.

PE 14.32

27,519

KWD 0.265 QAR 6.35

TAMTamweel

11.58 7.29

15,024

14

Trailing

8.63 10.24

59,967

QAR 19.79 OMR 0.703

ABABurgan Co. for Well Drilling KCB Al Khaliji Commercial Bank

13.32

18,513 37,413

KWD5.60 0.790 SAR

ERE EzdanEngineering Real Estate&Co. GEC Galfar Contracting

Trailing

35,032 98,547

46

1,921

PE

103,585

93 718

1,129 4,230

12,598

1,033

Mkt. Cap. USD million

Turnover USD million

14,635

-7.2%

0.9%

525,916 Wk Low

-3.3%

0.5%

-

467

6.9% 9.3%

0.3% 1.8% 0.2% 0.6%

52 Wk 7,616 High

52 Wk Low

% Chg.

QAR 17.60% Chg. 10.0% Close

CBK Commercial 3 428 Kingdom Hldg.Bank Co. of Kuwait

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

Close

4 AHCAamal Co.

Abu Dhabi Abu Dhabi

Bahrain Abu Dhabi Bahrain

0%

100

0%

-2%

Tunisia

105

0%

Kuwait

Palestine

Return DailyDaily Return (%)(%)

Qatar

Dubai

Palestine

Dubai

2%

Dubai Dubai

105

100

1%

Qatar

Qatar Saudi

111

110

4%

Morocco Qatar

110

Kuwait Oman

113

112

Jordan Kuwait

113

114

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Jordan Egypt

115115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

Close

77.00 -

% Chg.

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

1 Alinma Bank 2 Almarai Co.

1 Arab National Bank

Close 77.00

% Chg.

Daily -

High -

Low

Turnover (SAR '000)

-

-

-

-

-

-

-

-

-

31.30

-

-

-

-

-

-

-

111.50

-

-

27.70

-

-

-

-

1 Banque Saudi Fransi

44.00

-

-

-

-

4 Emaar the Economic City

12.05

-

-

-

-

-

-

-

-

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

4 Jabal Omar Development Co. 4 Jarir Marketing Co.

4 Kingdom Holding Co.

2 National Industrialization Co.

28.70

12.00

62.00

17.90

150.25 12.35

46.80

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2 Rabigh Refining & Petrochemical Co.

26.60

-

-

-

-

1 Samba Financial Grp.

51.50

-

-

-

-

1 Riyad Bank

2 Saudi Arabian Fertilizer Co.

1 Saudi Arabian Mining Co.

2 Saudi Basic Industries Corp.

3 Saudi Cement Co.

5 Saudi Electricity Co.

1 Saudi Hollandi Bank

22 Saudi Industrial Investment Grp.

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

2 Yanbu National Petrochemicals Co. 7 Zain - Saudi Arabia

-

15.00

1 Bank AlBilad

1 Bank Al Jazira

Volume ('000)

25.10

185.25

-

-

-

-

6.20

-11.4%

-

-

154.75

92.67

-

46.80

-

-

-

-

-

47.60

-

-

-

-

-

-

34.30

52.00

10.00

-

-

-

-

-

-

15.0%

62.1%

16,636,260

16.20

-5.8%

10.1%

98.00

52.50

-20.7%

-

28.67

21.42

-4.4%

10.3%

-

24.45

17.75

-4.1%

19.0%

-

27.20 24.60 21.05

12.85

18.55

0.0%

-8.1%

15.55

-19.7% -1.0%

15.50

0.0%

16.5%

31.6%

37,650,000

12.0

1.2

1.6%

46,312,500

11.3

4.7%

318,000,000

19.1%

67,498,820

106.75

60.25

-

83.25

47.60

-42.8%

-32.0%

5.25

-13.0%

80.2%

-

-

46.50

54.00 11.50

34.20

41.60

-5.1%

-17.6%

-26.2% -3.7%

17.1% 2.3%

28.2%

45.5%

10.9

1.9

2.3

10.7

1.5

8,598,333

12.2

1.5

31,575,000

nmf

2.1

11,250,000

16,800,000

12,320,000

-18.5%

34,300,000

18.2%

15.8%

29,250,000

43.9%

nmf

1.6

5.6

10,875,060

-15.7%

-9.8%

10.8

2.9

3.6

80,000,000

14.4%

nmf

1.8

14.3

6.1%

-

23.70

14.4%

nmf

11,895,750

18.3%

33.00

35.40

14.2%

32,190,000

10,862,500

40.40

-

-3.1%

-17.4%

-

1.8

2.4

22.3% 21.0%

2.4

10.7

11.5%

-

87.75

5.3%

nmf

26,087,652

44.2%

36.4%

112.50

23.60

-3.9%

7.7%

8.5

0.8

9.9

8.0%

-

35.30

165.00

-6.7%

11.9

1.8

17.6

45,767,646

47.5%

-

23.10

31.8

9,015,000

30.7%

37.5%

192.75

-

88.00

-

0.0%

7.9%

39.5%

34.9%

43,400,000

-1.4%

26.90

-

-

-

1.4

26.8%

46,350,000

-

-

-

nmf

-6.4%

-

-

-

10,242,500

12,960,000

10.5%

-

33.60

-

86.8%

-9.3%

-

40.00

-

1.6

18.1%

-5.0%

3.8

1.6

10.9

-3.9%

-2.9%

1.4

31,821,429

39.5%

47.3%

22.5

12.3

3.5

-3.1%

65.5%

-1.1%

nmf

PB

2.4

-13.4%

63.9%

15.7

25.4

42.40

-

-

8,610,000

Trailing

PE

8,310,000

56.75

-

21.05

-

4.5%

59.4%

-

-

-

47.7%

26,605,000

23,301,600

-

-

39.5%

25,645,000

-5.5%

16.7%

-

-

14.9%

14.4%

-

-

32.46

12.6%

22,500,000

-10.7%

-

-

7.05

56.3%

115,500,000

21.20

-

19.75

13.00

11.10

-2.5%

0.0%

Market Cap. (SAR '000)

29.80

-

27.40 23.45

18.10

0.0%

60.4%

12 mths

-

-

-

6.05

48.90

-

-

13.85

83.75

64.50

-

-

69.3%

13.60

-

-

-4.3%

-

-

25.00

15.75

-12.0%

77.75

-

13.8%

37.50

-

-

-11.0%

50.00

-

10.8%

26.60

-

30.00

YTD

-7.7%

17.20

35.18

% Change

9.05

28.40

-

-

16.20

-4.6%

-

-

-

16.25

67.25

on high

111.50

-

-

80.75

Low

-

34.80

106.00

52-Week

High

30.4

21.3 15.4 10.5

14.1

13.8

11.9

9,639,000

13.1

14,000,000

nmf

9.2

1.3

1.9 1.3 1.7

2.2

4.7

2.0

2.9

2.8

3.3

STOCKS WITH NBK CAPITAL

13

ALWATAN DAILY friday, march 23, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,244 (-0.1%)

KSE General Index (% Chg.)

115

423 (-0.1%)

KSE Weighted Index (% Chg.)

114

59%

% of stocks trading above 1yr avg. price

0.69

Advance/Decline Ratio

110

ALQURAIN Qurain Petrochemicals Industries Co. Al Ahli Bank of Kuwait

Turnover (KWD) 5,543,800

N National Bank of Kuwait

1,832,150

K Kuwait Finance House

1,458,400

1,616,000

N National Investments Company 22-Feb-12

22-Mar-12

S&P GCC Large/Mid Composite

3.9%

0.218

1.9%

0.650

1.6%

1.5%

Worst Performers

Zain Kuwait ZA

22-Jan-12

5.3%

0.265

28,900,249

Highest Turnover

95 22-Dec-11

% Chg.

0.345

46,152

Market Cap. (KWD '000)

100

0.790

467 / 396 KPROJ.KSEKuwait Projects Co. (Holding)

Turnover (KWD '000)

104

Close

Commercial Bank of Kuwait

ABAR.KSE Burgan Co. for Well Drilling

6,523 / 5,694 ABK.KSE

KSE General Index 52 week High / Low

KSE Weighted Index 52 week High / Low 105

CBK.KSE

907,750

G Gulf Bank

CABLE.KSEGulf Cable and Electrical Industries Co. IFAHR.KSEIFA Hotels & Resorts NMTC.KSE Wataniya

Close

1.380

% Chg.

-4.2%

0.395

-3.7%

2.160

NINV.KSE National Investments Company

-3.6%

0.178

JAZEERA.KJazeera Airways

-2.2%

0.470

-2.1%

KSE Weighted Index

Quotes Company Name

Close

Daily

% Chg.

A Agility

0.410

T Al Themar Intl. Holding Co.

0.087

A AREF Energy Holding Co.

0.108

-1.8%

0.620

0.0%

A Al Ahli Bank of Kuwait

1.2%

0.650

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

B Boubyan Petrochemical Co. B Burgan Bank

0.550 0.430

0.265

C Commercial Bank of Kuwait

0.790

F Commercial Facilities Co. G Global Investment House

-

0.310

A Burgan Co. for Well Drilling

C Combined Grp Contracting Co.

1.6%

0.550

0.540

60

110

0.620

0.550

-11.3%

-6.8%

-5.2%

961,529

0.0%

0.430

0.425

408

0.524

0.419

-17.9%

-6.9%

664,336

1.540

127

0.280

11

-

85

0.940

-

0.198

1.945

40

1.300

0.700

0.395

0.255

0.055

0.019

10.7%

25.3%

-36.9%

25.0%

-43.6%

-16.0%

0.0%

-16.0%

0.0%

14.0%

-19.8% -29.1% -10.9%

-4.9% -1.3%

0.285

-20.2%

-16.8%

0.106

-1.9%

0.106

0.102

276

2,640

0.255

0.096

-58.4%

3.9%

-

0.290

0.236

-16.6%

-1.0% -2.1% -

1.380

0.206 0.470

1.380

66

0.204

21

0.465

-

-

-

13

0.450

0.445

0.0%

1.500

1.480

26

0.850

22

0.0%

1.5%

0.255 0.880

0.345

0.860

1,458

0.250

66

0.340

184

1.700

100

37

1.1%

0.870

48

1.380

0.214

80

0.134

0.480

30

0.114

0.630

0.415

-18.8% -4.7% -2.1%

-28.6%

1,695

1.100

0.820

-21.8%

260

0.350

0.236

-27.1%

0.295

-18.8%

18

1.620

25

1.420

1.580

540

0.660

0.425

-7.4%

-15.0%

7.7%

0.495

300,762

12.2

1.3

55,551

27.2

1.1

1,004,898

nmf

179,283

nmf

289,705

-57.6%

-21.9%

103,400

9.8

4.0

264,518

13.1%

-13.8%

6.1%

603,003

-36.3%

nmf

20.8

2.1

12.6

2.1

24.4

1.3

57.2%

555,626

26.7

3.8

0.7%

4,701,777

15.5

2.2

-6.2%

316,004

nmf

0.8

439,160

11.7

1.020

0.636

1.080

0.0%

1.080

1.060

1,832

1,710

1.145

0.909

-0.8%

0.244

0.244

464

1,900

0.285

0.192

-14.4%

360

0.168

0.056

-15.5%

10.9%

-3.5%

1.9%

17.2%

239,800

13.3

69,459

nmf

0.310

-1.6%

0.178

-2.2%

0.142

0.310

0.188

3

0.176

1,616

0.275

6

0.158

10.7%

-39.7%

3.5%

21,780

-6.1%

-6.2%

107,304

-35.3%

2.3

0.1

37.4

155,966

1.4

nmf

0.8

1.9%

0.220

0.216

462

2,120

0.226

0.174

520

0.136

0.093

-11.8%

0.0%

-7.7%

4,880

0.094

0.067

-3.2%

18.2%

30.0%

166,968

15.9

0.7

60

2.280

1.660

-5.3%

11.3%

28.6%

1,088,711

3.0

1.4

0.275 -

-

-

0.120

0.0%

0.120

0.120

62

0.091

1.1%

0.092

0.090

443

2.160

130

0.0% -

-3.6%

0.880

0.295

-8.8%

-34.0%

51

-

2.160

8,840

0.260

0.0%

0.142

0.222

0.130

0.340

-34.0%

0.142

-1.8%

0.244

10

0.033

0.8

1.4%

0.275 0.218

0.310

0.050

1.3

31.5

255 -

1.3

79,996

258 -

0.8

38.4

1.000 -

0.8

nmf

1.020 -

3.7

1.0

286,945

2.7%

1.7

18.2

-19.0%

-5.7%

8.0

63,719

-22.5%

3.1

153,000 85,106

312.3%

nmf

0.0% -

1.9

-16.8%

0.0%

16.3%

4.1

2.8

2,312,575

-2.0%

18.9

40.0

64,309

-20.4%

23.9%

1.5

1,224,386

-4.4%

-44.3%

13.1

-4.3%

45.7%

1.4%

4.2

0.9

20.0%

-2.2%

1.1

nmf

10.6

-11.5%

-0.8%

nmf

150,294

-2.8%

3.3%

1.0

81,000

150,744

-26.3%

nmf

1.000

N National Real Estate Co.

Z Zain Kuwait

-

0.420

-23.9%

0.0%

120

0.244

N Wataniya

-

30 83

66

0.730

0.280

960

0.495

47

N National Industries Grp. Holding

S The Securities House

8

0.620

1.9%

0.385

0.033

A The Commercial Real Estate Co.

0.265

615

-23.9%

0.415

-4.2%

0.345

T Tamdeen Real Estate Co.

1.560

0.790

377

0.085

-3.7%

K Kuwait Projects Co. (Holding)

S Sultan Center Food Products Co.

0.270

0.610

0.142

0.395

0.0%

S Salhia Real Estate Co.

0.620

160

-4.3%

0.255

A Qurain Petrochemicals Industries Co.

17

-15.8%

K Kuwait International Bank

O Oula Fuel Marketing Co.

1.6

0.0%

0.108

0.5

6.1

88,088

241,729

0.108

PB

2.0

-10.1%

0.448

0.880

-13.0%

nmf

19.5

-1.6%

0.552

1.500

N National Investments Company

-4.4%

PE

983,606

-18.4%

-

0.242

10.2%

0.280

-1.2%

N National Industries Co.

-16.3%

3.3%

429,203

0.380

0.0%

0.450

N National Bank of Kuwait

0.079

6.5%

420

0.860

M Mena Holding

0.104

-1.1%

Trailing

Market Cap. (KWD '000)

128

K Kuwait Finance House

M Mabanee Co.

0.581

12 mths

9.3%

1,970

0.470

P Kuwait Portland Cement Co.

-

0.657

-5.7%

YTD

908

JAJazeera Airways

F Kuwait Food Co.

-

75

0.248

% Change

0.460

0.204

K Kuwait Cement Co.

-

48

0.435

on high

0.465

IK Ikarus Petroleum Industries Co.

K KIPCO Asset Management Co.

-

780

Low

-1.1%

1.380

IF International Finance Co.

0.640

317

High

0.465

C Gulf Cable and Electrical Industries Co. IF IFA Hotels & Resorts

0.650

52-Week

Volume ('000)

0.305

0.0%

0.049

G Gulf Bank

0.405

Turnover (KWD '000)

0.310

5.3%

0.280

0.410

Low

0.0%

3.9%

1.560

High

0.0%

0.244

0.244

-

-

2.220 0.890

0.870

20

0.360

-

5

0.240

20

-

-

5,544

0.265 0.200

0.270

0.216

-

6,285

-

1.380

0.840

-23.6% -7.5%

-9.6%

0.0%

-36.2%

26.8%

-8.3%

-

-6.8%

6.7%

90,667

-5.9%

6.1%

113,825

-9.6%

0.0%

91,041

0.0%

-2.2%

88,400

-33.3%

3,790,631

nmf

0.6

22.3

2.1

1.2

22.0

0.9

1.0

18.4

0.9

nmf

7.0

13.3

1.8

UAE Rebased Performance

Summary

Best Performers 1,660 (0.3%)

DFM Index (% Chg.)

135

2,568 (-1.0%)

ADSM Index (% Chg.)

Advance/Decline Ratio

DFM Index 52 week High / Low

124

2,775 / 2,293 DU.DFM

ADSM Index 52 week High / Low

433,776

Turnover (AED '000)

115

Highest Turnover

109 105

E Emaar Properties

S&P GCC Large/Mid Composite

22-Feb-12 Abu Dhabi SE

15,260,236

A ALDAR Properties

22-Mar-12

2.3%

0.49

2.1%

0.43

du

1.9%

3.17

Turnover (AED) 47,337,231 NBAD.ADS National Bank of Abu Dhabi 28,805,270 UNB.ADSM Union National Bank 21,064,662 TAQA.ADS Abu Dhabi National Energy Co.

D Dubai Financial Market

22-Jan-12

3.3%

0.40

1.3%

Worst Performers

TATamweel

95 22-Dec-11

% Chg.

397,839,342

Market Cap. (AED '000)

114

1.27

82% DEYAAR.D Deyaar Development Co. 1.10 DANA.ADS Dana Gas 1,754 / 1,301 UPP.DFM Union Properties

% of stocks trading above 1yr avg. price 125

Close

TAMWEEL Tamweel

12,690,944

S Sorouh Real Estate Co.

SIB.ADSM

DIB.DFM

Close

8.51

% Chg.

3.15

Sharjah Islamic Bank

-1.6%

1.32

-1.5%

2.20

-0.9%

0.96

Dubai Islamic Bank

-5.0%

-1.0%

Dubai FM

Quotes Company Name

Close

Daily

% Chg.

A Abu Dhabi Commercial Bank

3.08

T Abu Dhabi National Energy Co.

1.32

-1.5%

A Air Arabia

0.71

-0.6%

A Abu Dhabi Islamic Bank

A Abu Dhabi National Hotels A ALDAR Properties A Amlak Finance

A Arabtec Holding A Aramex

A Arkan Building Materials Co. C Commercial Bank of Dubai D Dana Gas

D Deyaar Development Co. D du

3.40

2.19

1.31 1.02

-0.7%

0.0% -

-0.8% -

0.49

0.40

3.17

2.1%

2.3%

1.3%

E Emirates NBD

3.10

N National Bank of Fujairah

N National Bank of Umm Al Qaiwain S Sharjah Islamic Bank

S Sorouh Real Estate Co. T Tamweel

3.00

5,252

7,354

1.33 -

1.89

3.00

0.50

0.41

-

3.18

91.45 8.51 4.10 1.97

-

-5.0% -

9.29 -

-

8.75 -

-

4,260,750

0.71

-41.2%

3.0%

-24.1%

8.9%

-22.2%

3.00

150

0.48

0.39

3.13

94

7,671 4,366 2,461

-

3.30

0.34

0.20

2.80

3,844

2.31

1.88

4.63

2.65

587

4,452 -

3,549 -

5

12,691

3.13

772 -

7,021 190

1,185

483 -

1.23

-

778

0.71

0.46

2.90

8,503

10,986

8.50

15,649

10,950

3.40

1.69

0.68

9.23

-

50

1.96

-

1.46

21,065

-

431

-

25,106

2.99

9.15

-

28,805

2,059

-

5,351,519

1.77

805

0.43

3.70

-8.4%

91

1.85

47,337

U United Arab Bank

2,190,000

-13.7%

131.3%

1.24

0.44

12.3

-18.9%

79.2%

1.31

1.9%

3,322,690

3.49

11.20

10.75 1.56

0.0%

-5.1%

-11.8%

-31.0%

-12.1% -3.9%

-20.5% -4.8%

8.64

-17.2%

0.67

-22.3%

-13.5%

24,424,068

8.8%

0.5%

3,152,000

-17.6%

0.67

-18.8%

245

3.90

2.82

-19.2%

-

5.30

0.24

3.28

8.3

-30.0%

-10.3%

1.54

0.50

8,353,519

nmf

nmf

10,177

4,762

13.2

9,280,000

886,785

-5.9%

0.53

14,491,429

-16.3%

0.80

1.49

6.4

2.9%

-9.9%

-9.9%

14.3%

47.1%

12.8% 22.4% -5.7%

3.2%

9.6%

-14.8%

110.6%

28.3%

-12.5%

67.8%

62.8%

-30.2%

9.0%

1.6%

4.4%

-34.5%

1.4

0.5

3,234,981

52.1%

19.4%

1.1

0.9

-30.8%

-14.2%

0.6

0.8

7.1

nmf

nmf

-4.6%

0.3

5,823,863

1,820,000

12.6

5.4%

1.2

1.1

1.5

2,311,200

0.9%

0.8

12.9

79.4%

-11.5%

PB

2,723,226

73,289,918

1.02

1.63

nmf

16.8

-15.7%

-12.8%

8.51

8.3

1.5%

-33.0%

2.91

37,061

13.4%

-13.0%

8.7

10.2

4.70 2.39

9.7%

38.1%

2.2%

1,530,000

7.0

18,273,716

-

5

87.8%

0.0%

5.7

0.0%

74.70

-

3.4%

16.7%

102.00 12.15

3.3%

-14.0%

-

417

0.0%

2.41

6.98

8,040,000

-0.5%

-21.5%

3.3%

0.43

12.6

1.23

1.27

3.16

8,217,000

3.63

0.96

-1.6%

-8.3%

8.6%

4,198

-

0.96 1.26

21.5%

-25.5%

PE

17,234,440

11,944

-

-1.0%

0.8%

-14.9%

2.02

Trailing

Market Cap. (AED '000)

27.3%

42.4%

0.96 1.25

10.0%

2.94

0.57

7.6%

-19.0%

-

0.84

10.8%

12 mths

-22.0%

3.07

-

-0.4%

1.14

-4.2%

YTD

0.76

3.10

1.08

9.22

1.63

2.92

-7.2%

% Change

1.68

2.20

9.31

0.7%

3.55

2.37

on high

11,663

2.22

-0.3%

-

800

3.32

Low

15,260

1.13

9.27

2,721

471

High

1.29

1.16

3.02

3.15

* Closing Prices, Turnover and Market Cap. in USD

0.71

-

0.3%

U Union National Bank U Union Properties

0.72

1.01

-0.9%

N National Bank of Abu Dhabi

254

1.05

0.0%

2.20

M Mashreq

336

0.0%

3.00

D Dubai Islamic Bank

G Gulf Cement Co.

1.32

3.38

1.04

0.9%

F First Gulf Bank

1.32

3.41

2.79

0.5%

52-Week

Volume ('000)

1,449

2.89

1.86

Turnover (AED '000)

3.06

3.10

0.4%

1.16

E Etisalat

Low

2.85

D Dubai Financial Market

E Emaar Properties

High

17,229,102

27,660,000 -

1.1

0.4

2.3

1.2

0.9

0.6

6.8

0.5

7.5

1.0

18.8 6.6

1.9

0.7

1.3

0.9

4,510,000

16.1

2.2

2,328,480

9.3

0.5

3,281,250

9.8 9.8

1,270,000

12.5

1,457,849

nmf

7,861,219

3,686,685

5.2

11.2

0.9 0.5 0.6 0.7

0.6

1.8

STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY friday, march 23, 2012

QATAR Rebased Performance

Summary

115

Best Performers 8,653 (0.2%)

DSM Index (% Chg.)

114

50% AHCS.DSMAamal Co. 2.75 ERES.DSMEzdan Real Estate Co. 8,892 / 8,071 QIIK.DSM Qatar International Islamic Bank 335,376 MARK.DSMMasraf Al Rayan

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

DSM 52 week High / Low

110

Turnover (QAR '000)

452,550,596

Market Cap. (QAR '000)

QEWS.DSMQatar Electricity & Water Co.

Close

17.60

% Chg.

10.0%

19.79

5.1%

51.50

2.4%

139.50

1.1%

27.20

1.1%

105

Highest Turnover 100

Worst Performers Turnover (QAR) 38,511,002 BRES.DSMBarwa Real Estate Co. 26,383,652 VFQS.DSM Vodafone Qatar

MMasraf Al Rayan

99

B Barwa Real Estate Co.

23,207,552

Q Qatar National Bank

95 22-Dec-11

22-Jan-12

22-Feb-12

S&P GCC Large/Mid Composite

17,582,240

Q Qatar Gas Transport Co.

22-Mar-12

14,075,851

IQIndustries Qatar

Close

28.00

% Chg.

-3.1%

7.44

QTEL.DSM Qatar Telecom

QNBK.DSMQatar National Bank

-1.1%

167.00

-0.2%

74.00

0.0%

134.90

CBQK.DSMThe Commercial Bank of Qatar

-0.1%

Doha SM

Quotes Company Name

Close

A Aamal Co.

17.60

K Al Khalij Commercial Bank

16.35

C The Commercial Bank of Qatar

74.00

E Ezdan Real Estate Co.

19.79

B Barwa Real Estate Co. D Doha Bank

Daily

% Chg.

10.0% 0.9%

High

17.60

Turnover (QAR '000)

Low

16.00

11,089

27.95

26,384

59.00

2,603

16.20

0.0%

74.50

74.00

3,501

5.1%

20.49

18.88

2,160

28.00

-3.1%

59.70

0.5%

28.35

59.90

IQIndustries Qatar

135.70

0.6%

136.00

135.00

14,076

Q Qatar Electricity & Water Co.

139.50

1.1%

139.50

138.20

4,264

2.4%

51.90

50.40

M Masraf Al Rayan

27.20

Q Qatar Gas Transport Co.

Q Qatar International Islamic Bank

17.43

0.4%

77.00

0.5%

51.50

Q Qatar Islamic Bank

1.1%

27.20

17.45 78.00

166.80

13,001

7.51

7.44

52,492,910

nmf

22.09

-3.2%

-2.3%

22.7%

20,400,000

14.5

16.59

-11.0%

-0.5%

-3.0%

9,653,501

11.6

6.6

76.30

-9.7%

-8.7%

-3.8%

18,194,576

13.3

1.6

-2.1%

-13.4%

8,577,937

15.9

0.8

-1.5%

-0.3%

6,289,776

nmf

0.9

44.90

146

169.80

-1.1%

172

141.73

112.05

78

168.50

135.70

8.12

1.6

-14.0%

56.20

1,090

-0.2%

10,895,490

PB

-10.9%

84

87.50

-17.6%

16.2

-20.7%

-10.9% -8.6%

-9.1%

-8.4%

-4.8%

69.90

-14.4%

7.24

-8.4%

-0.9%

-6.5%

-6.9%

2.0%

-0.1%

-4.6% -2.4%

18.6%

5,886,000

PE

9.7

129.50

118

8,712,000

18,311,032

153.50

85.30

1.7%

-7.8%

31

19.58

12 mths

-11.9%

-22.0%

50.00

28.10

10.7%

Trailing

-13.5%

28.00

67.00

YTD

Market Cap. (QAR '000)

-10.8%

118.80

8,868

-14.6%

% Change

-4.8%

148.50

74.00

-26.9%

16.06

104

137

167.00 7.44

18.60

10,548

Q Qatar Telecom

V Vodafone Qatar

24.97

76.50

134.60

75.10

109

1,011

135.40

0.9%

68.00

17,582

-0.1%

74.90

85.50

1,423

on high

15.40

35.90

44

4,293

Low

47

937

17.33

134.90

24.09

19.15

38,511

Q Qatar National Bank

High

29

26.85

23,208

Q Qatar Navigation

651

468

16.40

52-Week

Volume ('000)

9.3%

12.1

12,339,859

-3.6%

74,635,000

7.7%

13,950,000

14.1%

7,795,491

17.8%

94,393,501

19.0%

29,392,000

1.1

9.0

0.9

1.3

9.9

1.7

1.9

9.4

2.8

2.4

10.7

4.6

11.9

1.6

12.6

2.2

11.4

1.4

OMAN Rebased Performance

Summary

115

Best Performers 5,958 (0.6%)

MSM Index (% Chg.)

114

53% RCCI.MSM Raysut Cement Co.

% of stocks trading above 1yr avg. price

4.00

Advance/Decline Ratio

1.06

OCOI.MSM Oman Cement Co.

Turnover (OMR '000)

7,125,820

Market Cap (OMR '000)

% Chg.

2.3%

0.56

6,406 / 5,419 BKDB.MSMBank Dhofar 4,179 OTEL.MSMOman Telecommunications Co.

MSM 52 week High / Low

110

Close

0.7%

0.57

0.7%

0.61

0.0%

1.43

BKMB.MSMBank Muscat

0.1%

106

105

Highest Turnover 100

Worst Performers Turnover (OMR) 621,291 NBOB.MSMNational Bank of Oman 224,433 BKMB.MSMBank Muscat

O Oman Telecommunications Co.

B Bank Muscat

152,196

O Oman Cement Co.

95 22-Dec-11

22-Jan-12

22-Feb-12

22-Mar-12

S&P GCC Large/Mid Composite

44,748

N National Bank of Oman

40,073

B Bank Dhofar

Close

0.31

% Chg.

-0.3%

0.61

OTEL.MSMOman Telecommunications Co.

1.43

OCOI.MSM Oman Cement Co.

0.56

BKDB.MSMBank Dhofar

0.0% 0.1%

0.57

0.7%

0.7%

Muscat SM

Quotes Company Name

Close

Daily

% Chg.

B Bank Dhofar

0.573

N National Bank of Oman

0.310

-0.3%

O Oman Telecommunications Co.

1.425

0.1%

R Renaissance Services

0.593

B Bank Muscat

0.605

O Oman Cement Co.

0.555

R Raysut Cement Co.

1.062

0.7%

High

0.575

Turnover (OMR '000)

Low

40

0.570

0.0%

0.610

0.602

224

0.7%

0.570

0.545

152

1.060

36

2.3% -

0.314 1.434 -

-

-

High

0.680

Low

on high

0.509

-15.7%

% Change YTD

4.8%

371

0.679

0.572

-10.9%

-9.2%

274

0.608

0.416

-8.7%

28.5%

-10.8%

39.7%

144

621

1.420

1.069

70

45

0.310

52-Week

Volume ('000)

0.332

436 -

0.304

1.425

34

-6.6%

1.041

1.190

0.0%

0.711

1.181

0.458

-49.8%

-3.1%

12 mths

Market Cap. (OMR '000)

-14.0%

524,432

-6.9%

1,077,285

-1.6%

13.1

PB

2.3

1.2

183,634

14.3

1.2

212,400

14.2

2.1

8.9%

18.8%

1,068,750

8.8%

-49.8%

167,282

-8.6%

PE

9.2

335,110

1.8%

Trailing

9.8

1.2

9.6

2.2

nmf

1.0

BAHRAIN Rebased Performance

Summary

Best Performers 1,148 (0.1%)

BSE Index (% Chg.)

115

32% BATELCO.BBahrain Telecommunications Co. - AUB.BSE Ahli United Bank

% of stocks trading above 1 yr avg. price

114

Advance/Decline Ratio

1,433 / 1,129

BSE 52 week High / Low

110

49

Turnover (BHD '000)

6,487,032

Market Cap. (BHD '000)

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

Close

0.42

% Chg.

0.5%

0.67

0.0%

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

105

Highest Turnover

101 100

Worst Performers Turnover (BHD) 34,187 AUB.BSE Ahli United Bank 9,150 BATELCO.BBahrain Telecommunications Co.

A Ahli United Bank

B Bahrain Telecommunications Co.

742

B Bahrain Islamic Bank

95 22-Dec-11

22-Jan-12

22-Feb-12

B Albaraka Banking Grp.

22-Mar-12

S&P GCC Large/Mid Composite

#

Bahrain SE

#N/A

#N/A

-

BARKA.BS Albaraka Banking Grp. #N/A

#N/A

#N/A

Close

0.67

% Chg.

0.42

1.08 #N/A

#N/A

#N/A

0.0%

0.5% #N/A #N/A

Quotes Company Name

Close

A Ahli United Bank*

0.670

A Arab Banking Corp.*

0.420

B Albaraka Banking Grp.* B Bahrain Islamic Bank

B Bahrain Telecommunications Co. B BBK

IN Investcorp Bank* IT Ithmaar Bank*

N National Bank of Bahrain U United Gulf Bank

* Closing Prices, Turnover and Market Cap. in USD

1.080

Daily

% Chg.

0.0% -

0.082

0.0%

0.412

-

0.416 797

0.095

0.570

0.304

0.5% -

-

High

0.670 -

Low

0.670 -

Turnover (BHD '000) -

0.082

0.082

-

-

-

-

-

-

-

0.416 -

-

0.416 -

-

-

-

52-Week

Volume ('000)

91

135 -

1

-

9 -

-

8

22

High

0.750 1.280 0.570

0.116

0.492

0.436 797

Low

0.660

on high

-10.7%

% Change YTD

0.8%

3,340,393

-26.3%

1,306,547

-1.0%

599,040

-15.6%

-0.9%

-12.0%

0.082

-29.3%

-8.9%

-29.3%

-5.5%

-0.5%

0.420 0.380 0.390 797

-26.3%

-15.4% 0.0%

0.0% 6.1%

0.270

-28.3%

1.3%

-13.0%

-25.9%

6.4

254,455

nmf

487,555

0.424

7.9

11.0

-13.0%

-

-17.4%

10.8

350,759

-0.9%

46.2%

PE

nmf

637,729

-17.4%

Trailing

77,053

-30.0%

0.065

0.560

-8.4%

939,363

0.0%

0.115

0.655

-10.7%

1.000

-

-

12 mths

Market Cap. (BHD '000)

253,707

7.5

PB

1.3

0.8 0.4

0.8

1.2

1.5

4.5

0.6

10.7

1.8

nmf

0.4 1.2

LIFE

Protect your skin from sun damage Too much sun can permanently damage your skin and increases your risk of developing skin cancer. The Cleveland Clinic offers these suggestions to help protect you from the sun’s harmful effects: •Apply sunscreen every day, even if it’s cloudy outside. •Stay out of the sun while it’s strongest, from 10 a.m. to 3 p.m. •Wear a long-sleeved shirt, long pants and a hat with a wide brim when you’ll be outside for long periods. •Protect your eyes with UV light-filtering sunglasses.

friDAY, march 23, 2012

Doctors find clue in quest to predict heart attack WASHINGTON: Too often, people pass a cardiac checkup only to collapse with a heart attack days later. Now scientists have found a clue that one day may help doctors determine if a heart attack is imminent, in hopes of preventing it.

Most heart attacks happen when fatty deposits in an artery burst open, and a blood clot then forms to seal the break.

If the clot is too big, it blocks off blood flow.

The problem: Today’s best tests can’t predict when that’s about to happen.

“We don’t have a way to get at whether an artery’s going to crack, the precursor to a heart attack,” said Dr. Eric Topol, director of California’s Scripps Translational Science Institute.

Wednesday, Scripps researchers reported a new lead - by searching people’s blood for cells that appear to flake off the lining of a severely diseased artery.

Topol’s team measured high levels of those cells, deformed ones, floating in the blood of 50 people who’d just had a heart attack. The research is reported in the journal Science Translational Medicine.

Next, Topol said his team soon will begin needed studies to learn how early those cells might appear before a heart attack, and if spotting them could allow use of clot-preventing drugs to ward off damage. Some San Diego emergency rooms will study an experimental blood test with chest-pain sufferers whose standard exams found no evidence of a heart attack, he said.

Don’t expect a test to predict heart attacks any time soon - a lot more research is needed, caution heart specialists not involved with the study. But they’re intrigued.

This undated handout images provided by Science Traditional Medicine/Scripps Translational Science Institute, shows on the left normal, healthy circulating endothelial cells (CEC). On the right are CECs from heart attack patients which appear abnormally large, misshapen and with multiple nuclei. (AP)

“This study is pretty exciting,” said Dr. Douglas Zipes of Indiana University and past president of the American College of Cardiology. It suggests those cells are harmed “not just in the minutes prior” to a heart attack, he said, “but probably hours, maybe even days” earlier.

“It’s a neat, provocative first step,” added Dr. William C. Little, cardiology chief at Wake Forest Baptist Medical Center. “But it is not a biomarker ready for

prime time.”

About 935,000 people in the U.S. have a heart attack every year, according to government figures. Doctors can tell who’s at risk: People with high blood pressure and cholesterol, who smoke, have diabetes, are overweight or sedentary.

But there’s no way to tell when a heart attack is imminent. Tests can spot that an artery is narrowing, or if a heart attack is under way or already has damaged the

heart muscle. They can’t tell if the plaque inside arteries is poised to rupture.

So it’s not that uncommon for someone to suffer a heart attack shortly after passing a stress test or being told that their chest pain was nothing to worry about.

Wednesday’s study, funded by the National Institutes of Health, investigated cells shed from the endothelium, or the lining of blood vessels, into the bloodstream. They’re called “circulating endothelial cells.”

First, Topol’s team paired with Veridex LLC, a Johnson & Johnson unit that makes technology used to find cancer cells floating in blood. Could it find these cardiovascular cells, too?

The team took blood samples from 50 heart attack patients - before they had any artery-disturbing tests or treatments - and from 44 healthy volunteers. They counted lots of the endothelial cells floating in the heart attack victims’ blood, and very little in the healthy people’s blood.

The big surprise: The cells in the heart patients were grossly deformed. “Sick cells,” is how Topol describes them.

The study couldn’t tell when those abnormal cells first appeared - and that’s key, said Wake Forest’s Little. It’s not clear how many heart attacks happen too suddenly for any warning period.

But Topol theorizes there are plaques that break apart gradually and may shed these cells for up to two weeks before the heart attack. He cites autopsy studies that found people’s arteries healed several plaque ruptures before the final one that killed them.

Topol said Scripps and Veridex have filed for a patent for a blood test to detect the abnormal cells. -AP

Paul Allen gives $300 million to expand brain research LONDON: Microsoft Corp co-founder Paul Allen has donated an additional $300 million to a foundation aimed at expanding research into how the brain works and how best to treat brain-related disorders.

The Allen Institute for Brain Science, based in Seattle, was established with a 2003 contribution of $100 million from the former Microsoft executive, who then donated another $100 million.

The latest contribution of $300 million will support the first four years of a 10-year plan to address critical questions about how the brain works.

Allen Jones, the institute’s chief executive officer, said the questions had to

be answered if “we are to understand and treat autism, Alzheimer’s disease, depression, traumatic brain injury and the myriad other brain-related diseases and disorders that affect all of us either directly or indirectly.” -Reuters

Tobacco plants turn into living vaccine factories

NEW YORK: Tobacco use is responsible for almost half a million deaths in the US each year, but the tobacco plant could find redemption as a savior for public health. That’s because a US biotechnology startup has transformed tobacco plants into living factories for making new vaccines and medical treatments according to LiveScience.

The “SwiftVax” tobacco plants are designed to act as quick, cheap biological factories for churning out bioengineered proteins needed for human or animal vaccines. Faster vaccine manufacturing could allow the world to respond rapidly to future outbreaks of infectious diseases - a problem it faced while racing to stockpile vaccine during the H1N1 swine flu pandemic.

“Thousands of lives and millions of dollars were lost because current technologies for production were not able to provide vaccines fast enough,” said Lucas Arzola, a Ph.D. candidate in chemical engineering at the University of California, Davis. “The use of tobacco plants as biofactories of vaccines can provide a solution to this problem.”

Arzola’s startup, called Inserogen, has already begun lining up bioengineered products made by the SwiftVax tobacco plants. First, it’s creating a vaccine for the poultry illness called Newcastle disease - an infectious disease capable of rapidly spreading among chickens or other farm birds.

Second, a therapeutic protein called alpha-1 antitrypsin (AAT) could help human patients suffering from the genetic disorder known as AAT deficiency, because the missing protein typically protects the lungs and liver from damage. But Arzola envisions the SwiftVax technology making a wide variety of vaccines and proteins used in medical treatments.

“The technology is easy to customize, and can be engineered to produce not only vaccines, but virtually any recombinant protein,” Arzola told InnovationNewsDaily. “A unique aspect of our technology is that we are repurposing tobacco, a plant that is viewed as negative, for a positive purpose: manufacturing vaccines and therapeutics to improve quality of life.” Arzola originally founded Inserogen alongside fellow Ph.D. candidates Oscar Ortega-Rivera and Michelle Lozada-Contreras, as well as Karen McDonald, a professor of chemical engineering at UC-Davis. Inserogen went on to win first place among 40 teams competing in the Big Bang! Business Plan Competition at UC Davis in 2010.

The startup’s breakthroughs have built upon years of funding from the US National Science Foundation - it was accepted into the new Innovation Corps Program that awards a $50,000 grant to university teams. More recently, it received a $20,000 E-Team Grant from the National Collegiate Inventors and Innovators Alliance (NCIIA) to do a proof-ofconcept for producing an animal vaccine.

Antarctic seal pups face climate change woes NEW YORK: The newborn Antarctic fur seal is especially vulnerable in its first few months of life, new research suggests according to LiveScience. It has high energy requirements, which may be harder to meet as climate changes mean they need to use more energy to keep warm.

By studying the energy requirements of Antarctic fur seals, researchers discovered that, despite climate models showing an increase in temperature, the windier and wetter conditions predicted for Antarctica may lead to lower survival rates for the seal pups. Essentially, the pups may have to allocate more energy to staying warm and less to growth and, ultimately, their survival.

“If climate change models are correct and the Antarctic Peninsula gets windier and wetter weather, this may influence how much energy is available for growth,” study researcher Birgitte McDonald, a postdoctoral researcher at the Scripps Institution of Oceanography in San Diego, said in a statement. “Changes in prey availability and climate may lead pups to conserve energy ... resulting in negative impacts on the ability to transition successfully to nutritional independence.”

Pup population

McDonald, while a graduate student at the University of California at Santa Cruz, and her co-authors monitored 48 young fur seals on Livingston Island off the Antarctic Peninsula.

They analyzed how much energy the pups consumed from their mother’s milk and how they used that energy - called an “energy budget” over three periods during the first four months of life.

“Energy budgets are important if we are to understand how individuals interact with their environment,” McDonald said. “In juvenile animals we need to know how they allocate energy towards growth, energy storage, maintenance, including thermoregulation [keeping body temperature steady], and development of foraging skills to facilitate a successful transition to independence.”

During their youth, the seal pups need to concentrate on growing and learning, to prepare for their future away from mom. Results supported this, showing newborns use around 60 percent of the energy from their mothers for growth. But as the pups get older and their mothers begin leaving them behind periodically, that percentage begins to fall.

At 1 month old, pups use only 25 percent of their energy for growth, the researchers found.

Growing strong

The amount of milk the pups drink was the biggest predictor of their growth rates, the researchers found, followed by various other factors, including body size, general health and the weather. Changes and fluctuations in weather due to climate change could affect how much energy the pups have to invest.

Predictions from climate models indicate that while the temperature on the island will increase, animals living in the area will also experience increased rainfall, higher wind speeds and more winter snowfall. These conditions would make it tougher for pups to keep warm, since wind and water sap heat.

Young pups are especially susceptible to heat loss because they are smaller and lack the insulation of full-grown seals.

The researchers saw that when the wind chill was higher, young pups needed more energy to keep their metabolism and body temperature up. This is less important after the pups grow an adult coat.

Baby gorilla death prompts bi-national poaching patrols

FILE - A silverback mountain gorilla is pictured in Rwanda’s Volcanoes National Park in Kinigi in 2011. (AFP)

PARIS: The death of a baby mountain gorilla has prompted Rwanda and Democratic Republic of Congo to launch joint anti-poaching patrols to protect the endangered species, an official said Wednesday.

Prosper Uwingeli, a conservationist in Rwanda’s Volcanoes National Park, which abuts the Virunga National Park in DR Congo, said the patrols were launched March 12 and had already destroyed several poaching traps.

Baby gorillas frequently fall victim to traps, even if they are not the species being hunted.

“These joint patrols were agreed upon following the death in a trap of a baby gorilla in February,” Uwingeli said.

Mountain gorilla populations have been decimated by conflict and poaching. The creatures were famously brought to the world’s attention by the late Dian Fossey, and are one of the region’s main tourist attractions and foreign currency earners.

Rwanda charges $750 to foreign tourists for a permit to visit the primates.

Only about 700 mountain gorillas survive in the wild, with half of them concentrated in the Virunga massif that straddles the border between Rwanda, DR Congo and Uganda.

The critically endangered species is also found at a second location in Uganda, in the Bwindi Impenetrable Forest. -AFP

The planet Mercury is pictured in this mosaic photograph compiled with images taken from the spacecraft Messenger in this NASA handout photo from October 5 2011. After its first Mercury solar day (176 Earth days) in orbit, Messenger has nearly completed two of its main global imaging campaigns: a monochrome map at 250 m/pixel and an eight-color, 1-km/pixel color map. Apart from small gaps, which will be filled in during the next solar day, these global maps now provide uniform lighting conditions ideal for assessing the form of Mercury’s surface features as well as the color and compositional variations across the planet. The orthographic views seen here, centered at 75° E longitude, are each mosaics of thousands of individual images. At right, images taken through the wide-angle camera filters at 1000, 750, and 430 nm wavelength are displayed in red, green, and blue, respectively. (Reuters)

Brain scans suggest how Alzheimer’s spreads

CONNECTICUT: Alzheimer’s disease and other types of dementia appear to spread through linked nerve cells in the brain, new research indicates according to HealthDay News.

The findings from MRI brain scans of dementia patients suggest that it may be possible to use MRI to predict the progression of dementias and to monitor the impact of treatments, the University of California, San Francisco (UCSF) researchers said.

They found that Alzheimer’s disease and four other common types of dementia appear to move between connected neurons in similar ways, even though they affect different brain networks.

“Our next goal is to further develop methods to predict disease progression,

using these models to create a template for how disease will progress in the brain of an affected individual,” study co-leader and neurologist Dr. William Seeley said in a UCSF news release.

“Already this work suggests that if we know the wiring diagram in a healthy brain, we can predict where the disease is going to go next. Once we can predict how the network will change over time, we can predict how the patient’s behavior will change over time and we can monitor whether a potential therapy is working,” he noted.

In another study published in the same issue of Neuron, a Cornell University team also used MRI to examine brain networks affected by dementia and reported results similar to the UCSF researchers’ findings.

16

ALWATAN DAILY

CULTURE

friDAY, MARCH 23, 2012

For Syrian refugees, freedom comes at a price JORDAN: For 100,000 dollars, Syrian activist Abu Alaa bought an unusual ticket to freedom: his death certificate.

“As far as the government is concerned, I’m a dead man,” Abu Alaa said.

The Syrian activist claims that faking his own death was the only way he could evade the clutches of Syria’s web of security and military intelligence apparatuses, which tortured him over a two-month period - a cost he claims was well worth the price.

His story is one of dozens indicating the rising desperation and cost of freedom for Syrian activists, and, amidst a security crackdown on the Jordanian-Syrian border, an emerging lucrative trade in human trafficking.

The Homs resident is one of hundreds of Syrian men who have bribed border guards an average of 200 dollars to complete their journey to Jordan - an “exit tax” Syrians fleeing months of conflict are growing accustomed to paying.

“Now you can’t even walk from neighborhood to neighborhood in Syria without paying off some official or soldier,” claimed Abu Alaa, now a refugee in the northern Jordanian city of Mafraq.

Syrian activists and refugees claim a recent Syrian border clampdown preventing civilians from legally entering Jordan is part of a wider military campaign targeting residents of restive cities such as Homs and Daraa that has pushed up the cost of fleeing the besieged cities up to 5,000 dollars per person.

The crackdown has also led to a spike in fares of a rag-tag fleet of private vehicles and buses willing to ferry refugees to border points - legal and illegal - with fares reaching 100 dollars a head.

Ahmed Amar, a Jordanian bus-owner who altered his regular Amman-Damascus route to shuttle some of the 80,000 Syrians who have fled to the kingdom since March 2011 - says the dwindling number of rogue drivers willing to make the journey are struggling to cap escalating costs.

According to Amar, his own side-business came to an abrupt end on March 3, when Syrian military forces opened fire on his bus out of suspicion that the 56-yearold was smuggling rebels and army defectors into Jordan.

Although the driver managed to break through the military blockade and into Jordanian territory with no fatalities, the presence of his bullet-riddled bus at a Mafraq garage is a grim reminder to those seeking to turn a profit from the Syrian crisis.

A Turkish soldier searches a young Syrian refugee at a border crossing near Reyhanli, Turkey, Tuesday, March 20, 2012. (AP)

“Don’t aid refugees,” said Amar, which is not his real name. Syrians who have been flagged by security services as “rebels” say they must rely on a costlier and riskier alternative - a network of smuggling routes leading to the northern Jordanian city of Ramtha.

Although Jordanian authorities follow an unannounced policy of receiving Syrians who illegally cross the border, activists and smugglers say a dispatch of some 2,000 Syrian troops has closed traditional routes, with the few smugglers willing to take uncharted journeys raising their rates from 5,000 to 20,000 dollars per family.

With the majority of Syrians now paying an average of 10,000 dollars in bribes and “fees” to flee their home country, humanitarian sources say the rising cost of freedom is placing an added burden on refugees struggling to meet the basic costs of living in their newfound home.

“In the beginning, most Syrians were coming to Jordan with enough savings to cover costs for six to eight

months,” said Ziyad Hamad, director of the Kitab and Suna society, one of the leading Jordanian societies providing services to Syrian refugees.

“Now, most Syrians are arriving with barely enough money to pay the first month of rent.”

Facing rising rent and food prices with little savings, many Syrian refugees say they are finding that their journey to safety was not what they had bargained for.

Yasser Abu Khalil is one of the 1,400 Syrians that have crossed into Jordan illegally over the last year and part of a growing number of refugees suffering from “buyer’s remorse.”

Having spent 50,000 dollars worth of life savings, stripped of his passport, unable to work and facing an April eviction by his Jordanian landlord, the political activist says economic hardship is forcing him to consider the one option he once feared the most.

“If I had the money, I would smuggle myself back to Daraa.” -dpa

Study reveals words’ Darwinian struggle for survival LONDON: Words are competing daily in an almost Darwinian struggle for survival, according to new research from scientists in which they analyzed more than 10 million words used over the last 200 years, reports The Guardian.

Drawing their material from Google’s huge book-digitization project, the international team of academics tracked the usage of every word recorded in English, Spanish and Hebrew over the 209-year period between 1800 and 2008. The scientists, who include Boston University’s Joel Tenenbaum and IMT Lucca Institute for Advanced Studies’ Alexander Petersen, said their study shows that “words are competing actors in a system of finite resources”, and just as financial firms battle for market share, so words compete to be used by writers or speakers, and to then grab the attention of readers or listeners.

There has been a “drastic increase in the death rate of words” in the modern print era, the academics discovered. They attributed it to the growing use of automatic spellcheckers, and stricter editing procedures, wiping out misspellings and errors. “Most changes to the vocabulary in the last 10 to 20 years are due to the extinction of misspelled words and nonsensical print errors, and to the decreased birth rate of new misspelled varia-

tions and genuinely new words,” the scientists write in their just-published study. “The words that are dying are those words with low relative use. We confirm by visual inspection that the lists of dying words contain mostly misspelled and nonsensical words.”

But it is not only “defective” words that die: sometimes words are driven to extinction by aggressive competitors. The word “Roentgenogram”, for example, deriving from the discoverer of the x-ray, William Röntgen, was widely used for several decades in the 20th century, but, challenged by “x-ray” and “radiogram”, has now fallen out of use entirely. X-ray had beaten off its synonyms by 1980, speculate the academics, owing to its “efficient short word length” and since the English language is generally used for scientific publication.

“Each of the words is competing to be a monopoly on who gets to be the name,” Tenenbaum told the American Physical Society.

The phrase “the great war”, meanwhile, used for a period to describe the first world war, fell out of use around 1939 when another war of equal proportions hit the world.

Language is “drastically” affected by the occurrence of major events such as wars, the scientists discovered, with word growth “significantly”

increasing in the English, French, German and Russian languages during the second world war.

“This can be understood as manifesting from the unification of public consciousness that creates fertile breeding ground for new topics and ideas,” the academics write. “During war, people may be more likely to have their attention drawn to global issues.” That increase was not seen in the Spanish language during the same period, they found, which they attributed to the smaller roles played

by Spain and Latin America during the war. The Hebrew language, meanwhile, saw a boom shortly after the Balfour declaration of 1917, an event which effectively paved the way for the establishment of the state of Israel. By 1920, the birth rate of Hebrew words increased by a factor of five, as a language previously used mainly for religious writing became a modern spoken language.

“Analogous to recessions and booms in a global economy, the marketplace for words waxes and wanes with a global pulse as historical events unfold,” they write. “And in analogy to financial regulations meant to limit risk and market domination, standardization technologies such as the dictionary and spellcheckers serve as powerful arbiters in determining the characteristic properties of word evolution.”

Thai potters work to keep ancient tradition alive NAKHON RATCHASIMA, Thailand: Pimpan Pleurngnoi puts the finishing touches to a brightly colored statue of a curly-haired fairy, painting the fairy’s eyes a sparkling blue. Nearby, her elderly mother carefully brushes thick brown paint on a small dog made of clay.

“They’re very popular with hairdressing shops,” Pimpan said. “Hairdressers like to have a fairy standing in front of their shop, welcoming customers.”

Their village of Nong Sanoe, part of Nakhon Ratchasima and some 260 km northeast of the Thai capital of Bangkok, is centre to a thriving pottery industry that maintains the traditions of centuries -- and the beneficiary of a program established by ousted prime minister Thaksin Shinawatra.

The One Tambon One Product (OTOP) scheme, which began in 2001, promotes local handicrafts at grassroots level and co-operates with villagers to

A worker moves clay statues out of a furnace in Dan Kwian village in Nakhon Ratchasima province, northeast of Bangkok March 13, 2012.

(Reuters)

help promote and sell their goods at national and international levels.

It has proved a boon for Nong Sanoe, a village in the rice-growing province of Nakhon Ratchasima.

Five years ago there were only a handful of shops in Nong Sanoe village. Today, over two hundred families in the village make their living from clay, many of them people who worked as farm laborers or factory workers before starting their own businesses.

Pimpan was studying to be a teacher when a friend recommended she move to Nong Sanoe.

Her extended family of seven now lives and works in a small house.

“Mostly, we wholesale to businesses here in Thailand. Other times Thai clients have something very specific in mind so we make statues according to what they want,” Pimpan said.

All along the dirt road families sell statues of dragons, beaming children, parrots and elephants.

Other shops display striking statues of deities such as Ganesh, Kali, Buddha and the Chinese patron of compassion, Guanyin, which are sprayed a brilliant gold, the smell of spray lacquer hanging heavy in the air.

“Do I dream of doing something else? Sometimes. This is hard work, each piece takes time from start to finish,” Pimpan said. “Commissioned pieces fetch a good price but the small garden statues don’t.”

Still, the industry has brought significant economic gains. Wimolrat Rumposomchok, who rents a space next to Pimpan’s family, said she makes a good living.

“If it’s a busy month, I can earn up to 70,000 baht ($2,300) a month. I can’t complain. My rent is 20,000 baht a year,” said the 28-year-old, who used to work at a factory making beeswax figures for 150 baht a day.

The province, which despite being Thailand’s largest and steeped in centuries of history, is hoping to use the villages as a draw for the foreign tourists who pack other parts of the nation to bring in still more income.

“When visitors from abroad come to Thailand they like to go to the beaches... Or they go to the mountains in Chiang Mai. Bringing tourism to the province is a top priority for us,” said Chakrin Cherdchai, the chairman of Nakorn Ratchasima’s Chamber of Commerce.

Some villages are already reaping the benefits.

Dan Kwian, a village just a few minutes drive from Nong Sanoe, receives busloads of Chinese visitors during peak holiday seasons.

Here, the sculptures are finished in a large communal firing oven tended by young men bearing sacred tattoos on their backs and arms.

The work is exhausting and the men regularly fill their plastic cups with cold water until the last sculpture is carried out and set to cool, signaling the end of a long work day. -Reuters

Dubai dreams again with new opera and art complex

DUBAI: World’s tallest building? Check. Man-made islands in the sea? Check. Indoor ski slope? Check. Now it’s time for opera and art.

Dubai, which burst onto the global stage with a series of extravagant projects before being subdued by a crippling debt crisis, has now revived plans for an opera house in a bid to boost tourism.

The once high-flying Gulf Arab emirate unveiled plans for a modern art museum and opera house district in the shadow of the Burj Khalifa, the tallest building in the world.

The entertainment complex will include an opera house, modern art museum, art galleries, two new hotels and residential housing, the government announced on Wednesday.

But unlike its heyday, when everything was aimed at making Dubai’s name shine brighter, the government was careful to couch the new development as “the UAE’s news arts and cultural nerve centre,” a sign of the closer federal ties forged in the aftermath of Dubai’s 2009 debt fiasco.

“The cultural accomplishments of a nation define its character and individuality,” Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum said in a statement.

“We will continue to strengthen the infrastructure framework for promoting cultural initiatives, through projects such as the Dubai Modern Art Museum & Opera House District.”

Original plans for a dune-shaped opera house and cultural centre, designed by British architect Zaha Hadid and built on a island in Dubai Creek, were shelved as its struggling developer, Sama Dubai, slashed projects in 2009.

The new project is a square, glass-enclosed structure on the edge of an existing man-made lake in Emaar Properties’ Downtown shopping and residential district.

The government did not say how the project would be funded or who would design it.

“The design and architectural elements... are now being finalized and work will commence shortly,” the statement said. The Gulf Arab region is already home to Muscat’s Royal Opera House, an Arabesque white complex that houses the Royal Oman Symphony, and the Qatar Opera House.

Neighboring Abu Dhabi, which rode to Dubai’s rescue at the height of its debt crisis, has slowed its own plans to build branches of the Guggenheim and Louvre museums in the UAE capital, pushing back their completion dates by a few years. -Reuters

Portuguese designer becomes ‘hero’ for the colorblind

FILE-Portuguese designer Miguel Neiva, 42, looks at the “ColorADD” code that he created for the colorblind people in his studio in Porto on Feb. 9, 2012. (AFP)

FRANCE: Identifying lines on a colorcoded metro map is tricky for those who can’t see some colors. Choosing clothes or telling a green from a red apple can be just as baffling.

But the pioneering work of a designer in the northern Portuguese city of Porto means such quandaries may soon pose less of a challenge for the color blind.

Miguel Neiva has spent much of the past decade creating a simple colorcoding system that employs easy-tomemorize symbols for the color blind to distinguish between certain pigments, such as red and green. Though Neiva is not himself color blind, he says childhood experiences formed the basis of his current work.

“I had a color-blind friend at primary school who for years was victimized by children like me who mocked him,” says the 42-year-old Neiva, speaking from his studio.

About eight percent of the male population has some degree of color vision deficiency, according to several sight associations, whereas less than one percent of women are affected.

Neiva’s so-called ColorADD system is based on primary colors. A diagonal slash symbolizes yellow, while red and blue are represented by triangles pointing in different directions. Different hues can be described by surrounding the symbols with a white or black square.

Pink for instance, is shown by an upward-pointing triangle -- representing red -- surrounded by a white square.

Porto’s Sao Joao hospital, one of the country’s largest, has adopted the system on its wristbands, which are assigned to

patients based on their medical needs.

“There have already been a few attempts to help the color blind orientate themselves, but this system marks an entirely new approach,” says Fernando Falcao Reis, the hospital’s director of ophthalmology.

“It has great international potential because it’s so simple to learn and to use.”

Neiva says his system has been warmly received by the color-blind, and he now spends about an hour each day answering messages from around the world by people who see him as a “hero”.

“I had no idea how big this project would become or how it would affect people,” he says.

He says as many as 90 percent of color-blind people ask for help choosing clothes, and about 40 percent have difficulties in some social situations. In one survey he did, Neiva said a police officer had inadvertently pulled on a pink shirt for his graduation ceremony, instead of a blue one.

“Miguel had a great idea that was wonderfully simple, and I think that in a few years, his invention will be widespread,” says Jose Vieira, who runs a crayon factory about 30 kilometers south of Porto.

Since 2010, the factory has made about 8,000 boxes of colored crayons, each of them stamped with a ColorADD symbol.

“Distributors have been very receptive,” Vieira says.

The color-coding system is also being used in fabric and paint swatches, as well as some clothes and on Porto’s underground metro network. -AFP

ALWATAN DAILY

entertainment Song Of The Day

Fahad AlSabah Staff Writer

Song: Mean Artist: Pink Album: Funhouse Genre: Pop/Rock In short: Pink’s latest studio set, Funhouse, was her best work since her sophomore album, Missundaztood; on the record, Pink tackles many issues and plays with different genres, but the most memorable moment is the scorching country-rock number “Mean,” where she channels her inner Bob Dylan, singing: “How did we get so mean? / How do we just move on? / How do you feel in the morning when it comes and everything’s undone?”

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

The Buzz Gallagher released from hospital after heart attack, coma Gallagher is out of the hospital, and will hopefully be making people laugh again soon. The 65-year old comedian, who suffered a heart attack last Wednesday at a Texas club where he was scheduled to perform, was released from the hospital on Wednesday, the entertainer’s promotional manager, Christine Scherrer, confirmed to Reuters. According to Scherrer, the comedian -- born Leo Gallagher -- “is doing great, but still needs time ... he is up to his same ol’ antics though.” It is not clear how Gallagher’s health woes will affect his performance schedule. According to the comedian’s official web site, his next scheduled date is on April 4 at the Tampa Improv Comedy Theatre in Tampa, Fla. The comedian’s manager, Craig Marquardo, told Reuters last week that he was meeting with fans at the Hat Tricks club in Lewisville, Texas last Wednesday “when he felt a little tired. So he went in and sat down, and then (club employees) went in and checked on him and he wasn’t feeling good, so they called an ambulance.” At one point Gallagher was placed in a medically induced coma, but doctors woke him Sunday morning. -Reuters

24 movie pushed to next year Kiefer Sutherland has made peace with Twentieth Century Fox over his “24” movie, but the project has been pushed until next year, Reuters has learned. The movie production was set to start shooting next month after Sutherland wraps the season for his television series, “Touch,” but a dispute over budget and the star’s fees put the project off schedule and means it has to be pushed until next year. “It didn’t work out right now. Everyone is trying to figure out how to do it next year,” an individual close to the project told Reuters. A Fox spokesman did not respond to several requests for comment. The plan now is for a new writer to rework the script, which Billy Ray wrote. Earlier this month, Reuters reported that Kiefer Sutherland, who stars in the television series and the film, and is one of the movie’s producers, was furious with Fox over budget and salary issues. In the early stages of negotiations, Fox offered to pay Sutherland $1 million, rather than the $5 million he wanted. In another round, the studio offered $2 million. The studio also wanted to cap the movie’s budget at $30 million, while Sutherland and producer Brian Grazer thought the movie needed at least somewhere in the low $40 million range.-Reuters

Rapper indicted for fellow entertainer’s death A grand jury has indicted an Atlanta rapper accused of killing a fellow entertainer known as Slim Dunkin in a recording studio fight last December, prosecutors said on Wednesday. Vinson Hardimon, also known as Young Vito, was indicted on Tuesday on charges of murder, aggravated assault and possession of a firearm during the commission of a felony, according to the Fulton County District Attorney’s Office. Dunkin, whose real name was Mario Hamilton, was in a recording booth on Dec. 16, and Hardimon was waiting for his turn to record, the district attorney’s office statement said. “The defendant is then accused of entering the booth and punching the victim,” the statement said. “A fight ensued and ended with Hamilton being shot in the chest.” Hardimon, 29, who at the time was free on bond for a previous aggravated assault charge, fled the studio after the shooting but surrendered 10 days later, the statement said. The deceased 24-year-old rapper belonged to a group called 1017 Brick Squad, which includes rappers Gucci Mane and Waka Flocka Flame, according to the Atlanta group’s Facebook page. Hardimon’s trial date has not yet been set, district attorney spokeswoman Yvette Jones said on Wednesday. -Reuters

friDAY, march 23, 2012

Hospitalized Kony director suffered brief psychosis: Wife LONDON: The director of a video calling for the arrest of fugitive Ugandan warlord Joseph Kony suffered from a brief psychosis when he was hospitalized last week in California, the filmmaker’s wife said on Wednesday, the same day an anti-Kony resolution came before the US Senate.

Jason Russell, who directed the 30-minute “Kony 2012” Internet film that went viral earlier this month, was detained by police in San Diego last week after witnesses reported a man in “various stages of undress” who was “acting bizarrely, running into traffic” in public, police said.

“Jason’s incident was in no way the result of drugs or alcohol in his body. The preliminary diagnosis he received is called brief reactive psychosis, an acute state brought on by extreme exhaustion, stress and dehydration,” Russell’s wife, Danica, said in a statement.

The “Kony 2012” film became an Internet sensation this month, racking up more than 84 million hits on YouTube since it was posted and thrusting its director into the spotlight.

The video’s aim was to wake up the world to the atrocities committed by Ugandan rebel leader Joseph Kony and his Lord’s Resistance Army, including kidnapping children and forcing them to fight.

On Wednesday, a bipartisan group of 33 US senators introduced a resolution condemning Kony and the Lord’s Resistance Army for crimes against humanity and supporting ef-

authorized about 100 combat-equipped US forces to deploy to central Africa to help government forces battling Kony.

Video Came Under Criticism

FILE - Jason Russell, co-founder of non-profit Invisible Children and director of “Kony 2012” viral video campaign, poses in New York, March 9, 2012. (Reuters)

forts to remove him from the battlefield.

“Joseph Kony represents the worst of mankind, and he and his commanders must be held accountable for their war crimes.

Today, one-third of the United States Senate has joined me in condemning the LRA’s unconscionable crimes against humanity,” said

Chris Coons, a democrat from Delaware who led the resolution alongside Senator Jim Inhofe, an Oklahoma Republican.

US officials had already taken actions aimed at stopping Kony before Russell’s video hit the Web. In October 2011, President Barack Obama notified Congress that he had

The phenomenal success of Russell’s video has been hailed for inspiring young people to activism, but has suffered some criticism including that it oversimplified a long-standing human rights crisis.

Russell was not arrested following what his organization has called an “unfortunate incident,” but officers transported him to a medical facility and he was treated for “exhaustion, dehydration and malnutrition.”

“The doctors say this is a common experience given the great mental, emotional and physical shock his body has gone through in these last two weeks,” Russell’s wife said.

Russell will continue to remain under hospital care for a number of weeks, and his wife said the recovery process “could take months” before the director is able to resume his work with Invisible Children.

Mixed reactions in Uganda include criticism that the attention came too late, that much of the armed conflict in the area has subsided and the film leaves out that the Ugandan military is often accused of committing the same atrocities as Kony’s fighters. In addition, Kony is believed to have long since fled Uganda and now only commands a few hundred followers. -Reuters

Radio campaign Oscar winner next step against Rush Limbaugh Octavia Spencer NEWYORK: Rush Limbaugh’s opponents are starting a radio campaign against him Thursday, seizing upon the radio star’s attack of a Georgetown law student as a “slut” to make a long-term effort aimed at weakening his business.

The liberal Media Matters for America is using a past campaign against Glenn Beck as a template. In Limbaugh, however, they’re going after bigger game. He’s already fighting back and the group’s stance has provoked concerns that an effort to silence someone for objectionable talk is in itself objectionable.

Media Matters is spending at least $100,000 for two advertisements that will run in eight cities.

The ads use Limbaugh’s own words about student Sandra Fluke, who testified at a congressional hearing that contraception should be paid for in health plans. Limbaugh, on his radio programs, suggested Fluke wanted to be paid to have sex, which made her a “slut” and a “prostitute.” In return for the money, he said Fluke should post videos of herself having sex. Under sharp criticism, Limbaugh later apologized.

In one of the anti-Limbaugh ads, listeners are urged to call the local station that carries Limbaugh to say “we don’t talk to women like that” in our city.

Ad time was purchased in Boston; Chicago; Detroit; Seattle; Milwaukee; St. Louis; Macon, Ga.; and Cedar Rapids, Iowa. The cities were selected to support active local campaigns against Limbaugh or because of perceptions Limbaugh may be vulnerable in that market, said Angelo Carusone of Media Matters.

“What we’re really looking for is a way to demonstrate the persistence of the effort and the fact that it is on a wide scale,” Carusone said.

A spokeswoman for Premiere Radio Networks, which syndicates Limbaugh’s show to more than 600 radio stations nationally, said

Media Matters has gone beyond criticism of Limbaugh’s words to an attempt to silence him and intimidate advertisers.

“This is not about women,” said Rachel Nelson, Premiere spokeswoman. “It’s not about ethics and it’s not about the nature of our public discourse. It’s a direct attack on America’s guaranteed First Amendment right to free speech. It’s essentially a call for censorship masquerading as high-minded indignation.”

Limbaugh, on his radio show Wednesday, said he’s being targeted in an attack that was longplanned - not mentioning it was his words that lit the fuse.

“They’re not even really offended by what happened,” he said. “This is just an opportunity to execute a plan they’ve had in their drawer since 2009.”

Determining how much of a financial impact the Fluke comments have already had on Limbaugh is murky business.

Radio stations in Hawaii and Massachusetts have dropped his show. Media Matters claims that 58 companies have specifically asked that their ads be excluded from Limbaugh’s show. RadioInfo.com’s TRI Newsletter said Premiere has circulated a list of 98 advertisers who want to avoid “environments likely to stir negative sentiments,” essentially all politically pointed talk shows.

There’s more. TRI also said a group with several stations that air Limbaugh sent out a list of 31 advertisers who don’t want to be on Limbaugh’s show.

Premiere notes that a list is sent out four times a year reminding stations of advertisers who don’t want to be part of controversial programming, and suggests a reported exodus is exaggerated.

Whether the advertisers return is another question. Limbaugh has a daily audience estimated at between 2 million and 3 million people, according to Talkers magazine. -AP

R. Kelly brings back Trapped series NEW YORK: Get ready for more drama from Sylvester, Twan and Pimp Lucius - R. Kelly is delivering more chapters of “Trapped in the Closet.”

The outrageous musical series started off as five videos for the R&B singer’s dramatic cliffhanger songs in 2007. It quickly became a cult classic, and he added more chapters, put the accompanying videos on a DVD and also teamed up with IFC to premiere the series. It grew to 22 chapters.

For the next chapters, Kelly is teaming up with IFC again. He said in a statement Wednes-

I Hate My Teenage Daughter pulled from Fox schedule “I Hate My Teenage Daughter” isn’t getting a lot of love from Fox. The network has pulled the comedy from its schedule two weeks earlier than expected after it posted disappointing ratings. Fox said the show would air its six remaining episodes in the summer, including the two that were to air March 27 and April 3. The series, which stars Jaime Presssly and Katie Finneran as a pair of lifelong friends and single moms who fear that their daughters are growing up to be just like the girls who picked on them in school, ran Tuesdays at 8:30 p.m. and was expected to go into hiatus following its April 3 episode to make room for the return of “Glee” on April 10. “Raising Hope” repeats will fill the slot March 27 and April 3, and “Glee” will return from 8 to 9 the following week, as previously planned. -Reuters

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FILE - In this Feb. 12, 2011 photo, R. Kelly performs at the pre-Grammy gala & salute in Beverly Hills, Calif. (AP)

day: “The Alien is back and It has brought friends along.”

“When I first began experiencing the unknown journey of writing ‘Trapped in the Closet,’ I knew after the first chapter that I had tapped into something that was not of this earth,” he said. “’Trapped in the Closet’ fans put on your seatbelts ‘cause ‘Trapped in the Closet’ is coming to take you away.”

Ann Carli, the producer of “Trapped,” said filming for the new chapters will begin in Chicago in the spring and be out by the fall, along with new characters.

“You’ll see pretty much most of the main characters back, and you’ll find out pretty early on what the package is, and whose got the package,” said Carli, referring to the cliffhanger of the last chapter.

Carli said in a phone interview Wednesday that the series almost didn’t get made. When Kelly presented his 16-minute “Trapped” song to his Jive record company at the time, the label didn’t know what to do with it, Carli said.

She pushed to make a series of videos like a movie to accompany it, and the song and the videos became a sensation.

But despite its success, more chapters almost didn’t happen. It wasn’t until an interview when Kelly said that money was the holdup to producing more installments that offers flooded in to produce them, Carli said.

IFC said “Trapped” gave the network its biggest online audience ever. A DVD of the new chapters should be released by the holidays, Carli said.

Meanwhile, Kelly is to release his new album, “Write Me Back,” in the summer. His memoir, “Soulacoaster: The Diary of Me,” is due out in June. -AP

honored in hometown

Oscar-winning actress Octavia Spencer arrives at the Alabama Statehouse in Montgomery, Ala., Wednesday, March 21, 2012. (AP)

MONTGOMERY: Oscar-winning actress Octavia Spencer promised Alabama fans Wednesday that she would do everything possible to make sure some of her future movies are made in her home state.

Spencer, who won this year’s best supporting actress Oscar for her performance as the maid “Minnie” in “The Help,” told the crowd in Montgomery that her home would always be in Alabama.

Wearing a purple dress, she rode up to the Statehouse in a pink limousine for the ceremony. She was serenaded by the band from her alma mater, Jefferson Davis High School. She even paused for a moment to lead the band.

The Montgomery native thanked Rep. Terri Collins, R-Decatur, for sponsoring a bill, approved by the state House, to increase the incentives the state offers for movies to be made in Alabama. The bill was approved later Wednesday by the Senate.

Multiple speakers, including Gov.

Robert Bentley and leaders of the House and Senate, greeted Spencer at a joint session of the Legislature. Bentley proclaimed Wednesday as “Octavia Spencer Day in Alabama.

“We want to make sure your next Oscar is on a film shot right here in Alabama,” Speaker Mike Hubbard told the actress.

The running joke throughout Spencer’s visit concerned Minnie’s famous pies in the movie, including one she made for her boss that included a nauseating ingredient and led to her being fired. “Don’t hand me a piece of pie,” Senate president pro tem Del Marsh, R-Anniston, told Spencer.

Spencer was guest of honor at a reception at a Montgomery hotel later and Montgomery Mayor Todd Strange presented her with a key to the city. Strange invited Spencer to return often to her hometown. “But please leave your pies at home,” Strange said as a member of the audience chanted “Don’t bring no pies.” -AP

The Situation admits prescription pill problem

NEW YORK: “Jersey Shore” star Mike “The Situation” Sorrentino says he is seeking help for a problem with prescription pills.

“I want to set the record straight,” he said on his website. “I have voluntarily taken steps to get control of a prescription medication problem I had due to exhaustion. I have spent the past several weeks getting treatment for this problem and recuperating from my work and appearance schedule. I appreciate my fans’ support and love you guys.”

The statement Wednesday came hours after Sorrentino and his publicist denied a TMZ report that he was in rehab for substance abuse.

Sorrentino is still expected to appear on the just-announced sixth season of the MTV reality hit.

“We have no comment about Mike but fully expect and are looking forward to the entire cast returning for a sixth season,” a network spokeswoman said in a statement to Reuters.

After TMZ reported Tuesday that Sorrentino had checked into an “inpatient treatment program” for substance abuse, Sorrentino said in another post on his website: “You can’t believe everything you hear about ‘the situation’ with The Situation, especially when it comes to some of the ridiculous embellishments TMZ has been spreading.” -Reuters

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ALWATAN DAILY

AROUND TOWN / TIME OUT

FRIDAY, MARCH 23, 2012

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

Feature o f

graffiti

the day

moderately confused

AUK campus services receives award on energy conservation

KUWAIT: For the fourth consecutive year, the American University of Kuwait (AUK) receives the Ministry of Electricity and Water (MEW) Award for Energy Conservation.

AUK has been receiving MEW awards since 2008 on their collaborative efforts with the ministry on energy conservation.

The MEW relationship with AUK started when a team of ministry representatives visited the AUK campus in 2007 to inspect and provide advice on their energy conservation campaign.

The visitors were impressed by how the Campus Services Department at AUK had already been applying energy conservation practices including, using light-emitting diodes, noise-absorbing windows, and smart power strips on all electronic equipment.

In continuation of its energy conservation efforts, the campus services Department at AUK maintains collaboration with MEW by sharing experience, data, and information on energy conservation methods.

The American University of Kuwait (AUK) is an independent,

Month a t

Sudoku

Elementary

private, equal opportunity, and coeducational liberal arts institution of higher education.

The educational, cultural and administrative structure, methods and standards of AUK are based

Intermediate

Advanced

on the American model of higher learning. The language of instruction is English.

More information on the American University of Kuwait can be found at www.auk.edu.kw

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

a glance

Flag hoisting ceremony March 23/ 8 a.m. / Jabriya: On the occasion of Pakistan National Day on Friday, a flag hoisting ceremony will be held at the Chancery premises in Jabriya (Block 11, Street-101, Building 46). All Pakistanis resident in Kuwait are cordially invited to attend the ceremony.

Golden Era Club March 23/ 5 p.m. - 7 p.m. / Rumaithiya: Join the Golden Era Club for a trip down memory lane. Come armed with memories and photos of the days gone by. Let your hair down and play those games you loved so dearly. All seniors (60 years +) are invited to join this unique meeting. Fun and frolic guaranteed.

Venue- House #34, next to Abu-Tammam Intermediate School for Boys, Sate Alhusari St., Block 2, Rumaithiya. For details call 97172788/ 66208183 or drop a line to goldenera60@yahoo.com

K’S PATH invites applicants for the adoption of pets Sepp is a Domestic Long Haired (DLH) male cat. He will be 2-years-old April 2012. This friendly, laid-back boy loves a good cuddle and likes a high vantage point in a cat tree or ledge to look out from. He would do best in a home with children over 12 years of age.

To adopt, contact +965 67006122 or visit the website www.kspath.org

New Toastmasters Club

Kuwaiti cuisine

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

March 15-April 5/6 p.m. - 8 p.m./TIES Center: TIES Ladies Club invites you to our Kuwaiti cuisine classes which will start soon. Join us for a one month cooking program where you will learn to cook real Kuwaiti food. All ladies are invited to join our classes and let your family enjoy the mouth watering Kuwaiti cuisine. For more information/registration, contact 25231015/6.

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.

Arabic course

Hip Hop at BAIA

The Philippine Embassy

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

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.

The Philippine Embassy in Kuwait announces that the Department or Foreign Affairs is advising all passport applicants to claim their passports within six (6) months from the date of application. Otherwise, unclaimed passports shall be cancelled and sent back to the Department for disposal. The Embassy will continue to entertain last minute claimants for such unclaimed passports within the next two months before finally canceling the passport in accordance with the directive of the Department.

Sewing for kids March 18-29/ 4:30 p.m. -6 p.m. / Salmiya: Here is your opportunity to join ten classes of basics of sewing for kids. Transportation available. This course will cover basic sewing skills such as tacking, hemming, variety of buttons fixing, making button holes, variations of bead work, fixing of bridal pearls, sequins, mirror work, motifs and much more. For details contact 66630243

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.

Nancy

Horoscopes Aries: March 21 - April 19

You could feel a lot of fond affection for everyone around you today, even those you normally might find irritating. Co-workers, friends, family, and the special person in your life are likely to be happier for having basked in this glow, and should reciprocate. You’re feeling especially generous, Aries, so buying gifts is likely to be on your agenda. Don’t forget to be kind to yourself, too.

Taurus: April 20 - May 20

Work may seem more like a drag than usual, as today your thoughts are at home with family, friends, and your partner in life, Taurus. You’re unlikely to concentrate on work, and you might reach for the phone constantly to seek a friendly voice. Images of beautiful objects may dance in your head. Don’t worry about your concentration. It will be back tomorrow!

Gemini: May 21- June 21

Your natural sensitivity and compassion are given a powerful impetus today by strong feelings of love and affection for everyone around you, Gemini.

Therefore, you’re likely to give and receive a lot of expressions of affection, both overt and subtle. A significant other should feel especially romantic toward you, so relax.

Cancer: June 22 - July 22

You’re a gregarious person by nature, Cancer, and today you might want to socialize and enjoy yourself. You could be overly concerned with your appearance, possibly because you wish to impress a current or potential romantic partner. Don’t worry; they’ll think you look great. You could receive a lot of attention throughout the evening both from this person and others.

Leo: July 23 - August 22

You may start the day feeling a little insecure about everything going on around you, Leo.The increased pressures of work might have strained your nerves a little. However, a lot of love and attention from friends, children, and the special person in your life should have you feeling better about everything in no time. In the evening, relax and watch a video with your mate!

Virgo: August 23 - September 22

Extra money may come your way today as a reward for work well done. Perhaps you’re getting a substantial bonus, or maybe you’re slated for a significant raise. Either way, Virgo, you’re going to be in pretty good financial shape. You’re going to be feeling very optimistic about your future.

Libra: September 23 - October 22

You may attend a party or other group activity this evening, Libra. However, you and the special someone in your life could well leave it early in order to steal some time for intimate conversation together.

You should be looking and feeling great and be especially optimistic about your future and the future of your relationships. The future is looking extremely bright to you today.

Scorpio: October 23 - November 21

You should feel exhilarated today, Scorpio. You might choose to channel some of this enthusiasm into decorating your home. Your aesthetic sense is sharp, as is your physical energy, so once you set upon a particular course of action, you aren’t likely to abandon it. Family members or others close to you may join you and create an atmosphere of strong companionship.

Sagittarius: November 22 - December 21

A lot of warm and loving communications could come your way today, Sagittarius. It could be in the form of letters, phone calls, emails, or texts Friends from far away whom you haven’t heard from in a long time could keep you busy catching up on the phone. Relations with family members or a partner are likely to be supportive.

Capricorn: December 22 - January 19

Good news! It looks as if money is coming your way. Perhaps you’re getting a good bonus, or perhaps you’ve received a good review and will be getting a substantial raise. Hearing about this will definitely boost your mood, Capricorn, and because you’re feeling good, you’ll be especially nice to those around you. They’ll reciprocate in kind. Enjoy your day!

Aquarius: January 20 - February 18

Today you might experience, however briefly, the most intense and refined type of spiritual love, Aquarius. Perhaps this is for a friend, child, lover, or maybe for all life forms on the planet. You’re also feeling especially artistic, so if you’ve been planning to make something as a gift, this is the time to do it. All signs bode well for other artistic projects as well. Go to it, and enjoy your day.

Pisces: February 19 - March 20

Today you might be feeling a very powerful and allconsuming love for everyone around you, and perhaps for all life forms in general. You’re also likely to be feeling romantic, passionate, and anxious for the company of a love partner. Your imagination is flying high, Pisces, and you could be trying to find a gift for a loved one.

ALWATAN DAILY

SPORTS

friDAY, march 23, 2012

Cricket

Pakistan edge Bangladesh by 2 runs to take Asia Cup MIRPUR: Pakistan clinched their second Asia Cup as they registered a thrilling two-run win over a heart-broken Bangladesh in Mirpur on Thursday.

Sent in to bat, Pakistan compiled 236 despite none of their batsmen reaching the 50-run mark, and relied on their trusty bowling arsenal to prevent the resurgent home team from scoring the nine runs needed for what would have been a memorable last-over victory.

Bowling the last over, Aizaz Cheema conceded just six as Mahmudullah and Abdur Razzak failed to get the hosts over the line. Bangladesh, earlier, had benefited from a near perfect start to their chase. Their opening pair of Nazimuddin (16) and Tamim Iqbal (60) added 68 in 16.4 overs, before a succession of wickets left them reeling on 81 for three in the 24th over.

To begin with, Pakistan were sent in to bat and started on the wrong foot.

They found themselves four down for 70 in the 22nd over - with reliable opener Mohammad Hafeez, skipper Misbah ul Haq and Younis Khan all back in the pavilion.

Hammad Azam (30) and Umar Akmal (30) steadied the boat somewhat by compiling 59 in 12.1 overs for the fifth wicket, before both batsmen departed within four runs of each other. In came Shahid Afridi, and for a moment the erratic Pathan promised to deliver the blitzkrieg that is ever-expected of him.

Afridi struck a towering six, a murderous blow over long-off against Mashrafe Mortaza - and four boundaries in his 22ball 32, adding 45 in just 40 balls with

Pakistan’s cricket team celebrate with the trophy after winning the final match against Bangladesh at the Asia Cup Cricket Tournament in Dhaka, March 22, 2012. (Reuters)

‘keeper Sarfraz Ahmed (46, 52b, 4x4).

Afridi, however, was out in characteristic fashion, holing out to a Shakib full toss that was there for the creaming - and left Pakistan tottering on 178 for seven in the 42nd over.

Amid the regular fall of wickets, Sarfraz marched on unabated and allianced for 30 runs in four overs with Aizaz Cheema, for the last wicket. In the last over of the innings (bowled by Shahadat Hossain) the two massacred 19 - runs

which were to prove ultimately crucial.

Tamim, who scored four fifties in as many games, was declared man of the series while Afridi was the man of the match for his cameo and restrictive bowling. -Agencies

19

NZ must take chances in 3rd test: Taylor

WELLINGTON: New Zealand’s nine-wicket loss to South Africa in the second test was a closer match than the result suggests and the hosts’ captain Ross Taylor believes his team are not far away from being competitive in the third test in Wellington. South Africa took a 1-0 lead in the series on the back of the victory at Seddon Park in Hamilton, which was cemented through superb fast bowling from their pace trio of Vernon Philander, who took 10 wickets, Dale Steyn and Morne Morkel.

“The score reflected that we got pretty much thrashed ... but it was actually a lot closer than people give it credit for,” Taylor told reporters on Thursday.

“We did have our moments in that game and if a couple of bounces of the ball go our way then it could have been a different story. We know that we’re not far away from competing with this side. We’ve been on top in a few situations we just haven’t been able to ram it home.” The key to winning the final test in Wellington, which starts on Friday, was someone scoring a big century and being backed up by two or three others, Taylor said.

“In test cricket, three or four guys need to step up. I wouldn’t put it down to one individual,” Taylor said. “I think three or four very good individual performances will put us into this game.”

South Africa captain Graeme Smith agreed that the efforts of his bowlers in the second test had helped them to victory and his message to them for the final match at the Basin Reserve would be to build on their performances. The notoriously fickle Wellington weather is expected to be a factor, with rain forecast for each of the first four days of the match. The biggest question mark for the home side is whether the recalled Daniel Flynn will open the innings, or McCullum will move up to resume his partnership with Martin Guptill.

Smith said he doubted their plans would be any different no matter the composition of the New Zealand side and he was looking for a good performance to set the team up for their tour of England that begins in July. -Reuters

Basketball

Tennis

Bryant, Gasol lead Lakers over Mavericks

Williams, Clijsters make triumphant returns

Dallas Mavericks guard Jason Terry (center) drives between Los Angeles Lakers Kobe Bryant (left) and Ramon Sessions during their NBA basketball game in Dallas, Texas March 21, 2012. (Reuters)

DALLAS: Kobe Bryant scored 30 points, Pau Gasol added 27 points and nine rebounds, and the Los Angeles Lakers stopped the Dallas Mavericks’ four-game winning streak with a 109-93 victory on Wednesday night.

Ramon Sessions contributed 17 points and nine assists in his fourth game for the Lakers since he was acquired in a trade with Cleveland on March 15.

Dirk Nowitzki had 26 points and 10 rebounds, and Jason Terry scored 23 points for the defending NBA champion Mavericks, 0-3 against the Lakers this season.

The Lakers ended a two-game skid and have won six of eight overall. They were on the second leg of a back-to-back following Tuesday night’s 107-104 loss at Houston.

The Lakers broke open the game with a 24-6 spurt in the second quarter, capped by consecutive 3-pointers from Matt Barnes and Sessions for a 51-38 advantage.

Barnes and Bryant added 3-pointers

during the decisive run, with the Lakers building a 57-44 halftime edge. Los Angeles shot 57 percent (25 for 44) from the floor in the first half, led by Gasol’s 6 for 7 and Sessions’ 5 for 6. Gasol finished 13 of 16.

Bryant pulled off a spectacular threepoint play midway through the third quarter, first spinning in a no-look reverse layup after Gasol’s alley-oop pass. He was fouled on the attempt by Jason Kidd, and Bryant added a free throw that put his team in front, 69-55. Dallas finished the third quarter with a 12-6 run to narrow the deficit to 80-72. But the Lakers took control by opening the final quarter with a 10-4 spurt, capped by Gasol’s 3-pointer with 8:04 left for a 90-76 lead.

Mavericks starters Shawn Marion (sore left knee) and Brendan Haywood (sprained right knee) each missed their third straight game. Dallas is also minus a third starter, Delonte West, who sat out his 18th straight game with a fractured right ring finger. -AP

Knicks beat 76ers 82-79 for 5th straight win

PHILADELPHIA: Fueled by a dose of Linsanity and a timely coaching change, the Knicks are making a furious charge toward a division title. Knocking off a 76ers team in full swoon was the latest step. Stoudemire had 21 points and nine rebounds to lead the Knicks to their fifth straight victory, 82-79 over fading Philadelphia on Wednesday night. Jeremy Lin scored 16 of his 18 points in the fourth quarter, and Carmelo Anthony had 10 to help the Knicks pull within three games of the Atlantic Division leaders and clinch the head-to-head tiebreaker. Elton Brand had 12 points and 12 rebounds for the Sixers. Jrue Holiday scored 16.

The Sixers shook off a miserable start and a double-digit hole to make a run at the Knicks in the fourth. Lou Williams, perhaps the NBA’s best sixth man, nailed a 3-pointer that tied the game at 63-all.

Stoudemire, though, returned the favor with a monster dunk and a loud roar that was gleefully met with cheers by all the Knicks fans. Stoudemire hit a pull-up jumper next time down and the Knicks led by four. Lin followed with a runner and Lee, wearing a No. 17 jersey, leapt from his seat and applauded as the Knicks ran his way for a timeout. Lin delivered from the free throw line, sinking two for an eightpoint lead, then feeding Anthony for a 16-footer that gave the Knicks the breathing room they needed. Lin was 10 for 10 from the line.

The Sixers kept coming, and nearly turned the game around in the final 2 minutes. Trailing by three, Brand blocked Lin’s shot that led to a fast-break attempt for Andre Iguodala. Iguodala missed the layup, and the empty possession would finish off the Sixers. For good measure, Iguodala shot an airball in the final minute.

The Sixers never led and trailed by as many as 12 points when they finally found a groove in the third. Thaddeus Young’s dunk pulled them within two and Iguodala buried a 3-pointer from the corner - only his third basket - for a 49-48 lead.

Both were needed this time around, especially with Lin having a miserable first three quarters. He missed 10 of his first 11 shots and had only two assists - one on a long pass to a streaking Anthony for a thunderous dunk.

Lin wasn’t the only scorer who couldn’t buy a bucket. Iguodala, who averages 12.2 points, didn’t score his first field goal until there was 45 seconds left in the first half. He scored 13 points. -AP

KEY BYSCANE, Florida: Former world number ones Venus Williams and Kim Clijsters made triumphant returns to the WTA after long layoffs with victories on Wednesday at the WTA and ATP Miami hardcourt tournament.

Seven-time Grand Slam champion Venus Williams, who has not played a WTA event since pulling out of last year’s US Open, defeated Japan’s Kimiko Date-Krumm 6-0, 6-3 in 77 minutes.

Williams announced at last year’s US Open she had been diagnosed with the auto-immune disorder Sjogren Syndrome. The illness saps her energy and causes pain in her joints.

Clijsters, playing for the first time since her Australian Open semi-final loss to World No. 1 Victoria Azarenka, rallied to eliminate Australia’s Jarmila Gajdosova 4-6, 6-1, 6-0. The Belgian won 12 of the last 13 games.

“It’s always tough to get that first match rhythm under your belt,” Clijsters said. “When it comes down to my game I felt I wasn’t quite going through my shots as I should have. I was just trying to find that rhythm, but on the other hand maybe forgetting to still play aggressive tennis.

But as I started to feel more comfortable with the conditions and being in a match situation again I was hitting better, and that definitely showed in the second and third sets.”

Clijsters, who won at Miami in 2005 and 2010, skipped last week’s Indian Wells tournament to rest her injured ankle, the latest in a list of ailments in the past year that has also included a sore shoulder, wrist and abdomen. “It’s just a matter of getting those matches again,” Clijsters said. “One thing I can count on is I have the experience, though. It doesn’t take me that long to get used to it again. But it has become tougher.”

Saying her ankle is at 95 percent, Clijsters pondered how close she came to knocking off top seed Azarenka in Australia and how strong Azarenka, now 23-0 on the season, has played.

Venus Williams of the US awaits a serve from Kimiko Date-Krumm of Japan at the Sony Ericsson Open tennis tournament in Key Biscayne, Florida, March 21, 2012. (Reuters)

“I felt like I was really close to winning that match,” Clijsters said. “She has been playing really good tennis. I think she’s in a state of mind where she feels very confident and is on a roll. It’s really showing in her game and in the way she approaches matches.

I know what it’s like to be in that situation, where you feel very focused but at the same time playing freely, without any worries.”

Williams advanced to a second-round match against Czech third seed, and Wimbledon champion Petra Kvitova, who had a first-round bye,

while next up for Clijsters is her first match against Germany’s 14th-seeded Julia Goerges.

First round matches began in the men’s draw with Russian Nikolay Davydenko outlasting American James Blake 4-6, 6-4, 6-4, to book a second-round date with US 10th seed John Isner, the runner-up to Roger Federer last week at Indian Wells. Colombia’s Alejandro Falla was leading 6-1, 2-1 when Uzbek Denis Istomin retired with an injury, advancing the South American into a second-round match with British fourth seed Andy Murray. -AFP

Formula one

McLaren keen to build on feel-good factor SEPANG, Malaysia: McLaren’s Jenson Button is quietly confident of backing up last week’s seasonopening victory despite expecting a tougher challenge from his Formula One rivals in Malaysia on Sunday.

The 2009 world champion overtook team mate and fellow Briton Lewis Hamilton on the dash to the first turn in Melbourne and cruised to victory ahead of Red Bull’s Sebastian Vettel, who benefited from a late safety car to pass the other McLaren.

“We have a good feeling at the moment, there’s a lot of confidence in the team but we also know there are a lot of other quick cars,” Button told reporters on Thursday. “Red Bull were strong in the race and some of the others didn’t put it together over the weekend, so I expect it to be more competitive than Melbourne. We have a really good car so a one-two is not out of the question if everything goes well.”

McLaren locked out the front row of the grid in Australia and have been tipped to repeat the feat in Malaysia, a prediction Button was quick to play down as he weighed up the nuances of the demanding Sepang Circuit. “It’s such a different circuit to Melbourne but that’s the same for everyone,” he added. “Our car worked well in Melbourne and we came away with the victory but here it’s a bit tricky.

A lot of tire degradation, it’s very hot and humid, and very fast and flowing. So everything points to being able to look after the tires really. It’s going to be a tough weekend for all of us but the important thing is to just get out there and get some laps in.”

Hamilton cast a disappointed figure on the third step of the podium last week after qualifying on pole but the 2008 world champion was looking forward to the chance of a fresh victory rather than regretting an opportunity missed. “Clearly, we’re very encouraged

Jenson Button of Great Britain and McLaren drives down the pitlane during the Australian Formula One Grand Prix at the Albert Park circuit, March 18, 2012. (AFP)

by our pace, both in qualifying and in the race, and I’d like to think we can continue that at Malaysia this weekend,” Hamilton said. “I think both Mercedes and Red Bull have performance up their sleeves, and they’ll both be very fast in qualifying and the race.

But it’s nice to be the hunted rather than the hunter, which has been the case in the past few seasons. I know how well our team can respond, the result in Australia will only double everyone’s resolve.”

“The development race has already started and we’ll be pushing like crazy to stay at the front. I think Malaysia will add detail to the overall picture, but it’s the pace of development that will define the course of the season.” -Reuters

Defiant Massa banks on new chassis for Sepang SEPANG, Malaysia: A defiant Felipe Massa played down criticism of his prolonged slump in form and was optimistic on Thursday that a new Ferrari chassis would pay dividends at the Malaysian Grand Prix. The Brazilian has failed to finish on the podium since the inaugural Korean Grand Prix in October 2010 and after a dismal season-opening performance in Melbourne last week is under increasing pressure. “To be honest I really don’t care, I never drove thinking about what others are saying about me,” Massa, whose contract is up at the end of the year, told reporters when asked if he was bothered by mounting criticism. “I wouldn’t do my job thinking like this. I think about the best I can do in the race, which was not the case in Australia.”

Massa and team mate Fernando Alonso both struggled in Melbourne and while the Spaniard was able to climb from 12th on the grid to fifth at the finish, the Brazilian started in 16th and retired after 46 laps following a tangle with compatriot Bruno Senna.

The performance of the car throughout the opening race weekend was a major concern for Massa but he now has a new chassis. Admitting that Ferrari’s situation was far from ideal, Massa said the team were striving to make the car competitive as quickly as possible. -Reuters

fridAY, MARCH 23, 2012

SPORTS

Sports Editors Highlight PARIS: The French League (LFP) have postponed Olympique Marseille’s Ligue 1 game against Montpellier to help the club prepare for their Champions League quarter-final return leg against Bayern Munich. Marseille’s home game against second-placed Montpellier would be played on April 11 instead of March 31, the LFP said on Thursday. Olympique Marseille, in ninth spot, need to bounce back following the embarrassment of their French Cup exit at third division Quevilly. “What we did makes me ashamed,” coach Didier Deschamps told reporters after amateurs Quevilly won 3-2 in extra-time to inflict a seventh consecutive defeat in all competitions on his side. Marseille, who host Bayern Munich in a Champions League quarter-final first leg on Wednesday, travel to relegation-threatened Nice for a Cote d’Azur derby on Saturday. -Reuters

Football

Chelsea hosts Spurs with European hopes on line LONDON: Tottenham’s Premier League trip across London to face Chelsea on Saturday is looking a lot like a playoff for Champions League qualification.

Although neither club would be out of contention for a top-four finish if they lose, Chelsea could be eight points behind fourth place with four games remaining if Tottenham wins at Stamford Bridge and third-place Arsenal avoids losing to Aston Villa. Tottenham needs a victory almost as much, if only to boost morale after picking up just one of the past 12 available points.

“We’re all disappointed to have had a blip at this time of the season but we’ve got to come out of that now,” Tottenham manager Harry Redknapp said.

“We’ve got to keep going.”

Chelsea’s revival under Roberto Di Matteo was hit

by Wednesday’s 2-1 defeat against second-place Manchester City, which is at Stoke on Monday.

But the Blues have not lost at home against Tottenham since February 1990, when Gary Lineker was among the scorers in Spurs’ 2-1 win, and will be within two points of their crosstown rivals if they rack up another win.

“Two weeks ago, we were seven points behind third place and now we’re six points behind,” Di Matteo said.

“We’re going in the right direction and we’ve proved we can compete with the best teams in the league.”

Having lost a 10-point lead over Arsenal within a month, Redknapp is still looking at Tottenham’s north London rivals as the biggest obstacle to Champions League qualification.

Six straight wins, including a 5-2 comeback victory over Tottenham-have taken the Gunners a point ahead of Spurs and put them in pole position for third place, which brings automatic qualification rather than a spot in the Champions League playoffs.

Spurs could be without Emmanuel Adebayor and Aaron Lennon because of hamstring injuries, with the latter’s absence largely coinciding with his team’s loss in form.

The winger sat out the defeat against Arsenal and, although he returned to face defending champion Manchester United, then missed defeat at Everton and Wednesday’s 1-1 draw against Stoke, when Rafael van der Vaart equalized in injury time. -Reuters

Tevez return lifts City in title chase LONDON: Manchester City travel to Stoke City on Saturday with new belief and a possible trump card up their sleeve after a vital victory over Chelsea prevented Manchester United taking a stranglehold of top spot.

From staring a four-point deficit in the face, longtime league leaders City pulled a 2-1 victory out of the fire against Chelsea, the-85th minute winner from Samir Nasri being superbly created by the quick-thinking of back-in-favor Carlos Tevez.

They now trail by just a point and victory, or even a draw at Stoke, would allow City to re-take the lead, at least until United host Fulham on Monday.

Below the battle for the title, Arsenal have emerged as favorites to grab the third automatic qualification place for the Champions League after a six-match winning run put them above north London rivals Tottenham Hotspur.

Arsenal, who have 55 points, host Aston Villa while Tottenham (54) face a trip o fifth-placed Chelsea (49) hoping to get back to winning ways after managing just one point from the last 12 up for grabs.

Third-bottom Bolton Wanderers return to action at home to Blackburn Rovers after their midweek match against Aston Villa was postponed following the cardiac

arrest suffered by their midfielder Fabrice Muamba last week at Tottenham. Muamba remains in hospital but is showing signs of making a remarkable recovery.

Tevez has hardly been missed at City this season, such has been the club’s form in his absence since he refused to come off the bench in a Champions League match in Munich in September.

However, City’s lead at the top has evaporated because of patchy away form and a lack of goals and suddenly Tevez, whose 24 goals helped the club to the FA Cup and third place in the league last season, looks as though he could still play a decisive role in what has been a traumatic season.

Manager Roberto Mancini, who has patched up his differences with Tevez despite saying he would never play for the club again in September, sent the Argentine dynamo on for the final 20 minutes against Chelsea and was rewarded with a livewire cameo performance helped seal three precious points.

United, who have bagged 25 points from their last nine games to take control, will have Phil Jones available for the trip to Fulham after recovering from flu while Nani is also in the running for a return after missing the league wins over West Bromwich Albion and Wolverhampton Wanderers. -Reuters

This is no time to relax, Neuer tells Bayern BERLIN: Bayern Munich goalkeeper Manuel Neuer has told his team mates not to repeat the mistake they made earlier in the season as they launch an assault on three trophies in the final stretch of the campaign.

The Bavarians, chasing a Champions LeagueBundesliga-German Cup treble, are brimming with confidence after scoring 20 goals in their last four games in all competitions.

“We are on a good run but we have to be careful not to let up,” said German international Neuer ahead of Saturday’s home league game with Hanover 96.

“What is clear is that we must not relax. We have to keep working and not assume all this will just continue.We saw it earlier in the season when we stumbled towards the end of the year maybe because we were blinded by some good results,” added Neuer.

Bayern are locked in a straight fight with Borussia Dortmund for the Bundesliga and German Cup trophies. Neuer’s side also have a Champions League quarter-final with Olympique Marseille to look forward

to, knowing the final of that competition will be held at their home ground in Munich in May. Bayern coach Jupp Heynckes looks likely to have Germany midfielder Bastian Schweinsteiger back at the weekend after missing two matches through injury.

League champions Dortmund, five points clear of second-placed Bayern at the top of the table, reached the cup final by snatching a last-gasp 1-0 victory at second division Greuther Fuerth on Tuesday.

Dortmund, unbeaten in 20 Bundesliga games, travel to struggling Cologne on Sunday (1530).

Cologne are sixth from bottom, only three points ahead of Freiburg who occupy the relegation playoff spot. Borussia Moenchengladbach, eight points adrift of Dortmund in third position and battling to earn a Champions League spot, host Hoffenheim on Saturday (1430).

Schalke 04, in fourth spot one point behind Gladbach, entertain Bayer Leverkusen in Saturday’s late game. -Reuters

Barcelona looking to cash in on Madrid’s struggles BARCELONA, Spain: Led by the insatiable Lionel Messi, Barcelona will seek to end a perfect week on Saturday by winning at Mallorca to pile the pressure on Real Madrid after the stumbling Spanish league leader drew back-to-back matches. Messi broke Barcelona’s all-time scoring record in helping the three-time defending champions cut Madrid’s lead from 10 to six points in the past two rounds.

“There are 10 games left and we have to try to take away the highest number of points possible,” Barcelona midfielder Thiago Alcantara said. “We can only concentrate on our games.”

Madrid hosts Real Sociedad later on Saturday in need of a win after conceding late goals from free kicks to drop points to Malaga and Villarreal this week.

Madrid will play the match without coach Jose Mourinho, defender Sergio Ramos and midfielder Mesut Oezil. They will all be serving one-game suspensions after being sent off at the end of the ill-tempered 1-1 draw at Villarreal on Wednesday.

Pepe could also face suspension and miss the game against Sociedad after reportedly insulting the referee following the match at El Madrigal stadium.

That would leave Madrid without both starting center backs and two of its most dangerous attacking players, with winger Angel Di Maria still sidelined by a nagging injury.

Mallorca is now playing its best football in an upand-down season. Joaquin Caparros’ team has won its past two games and is unbeaten in four rounds.

Barcelona coach Pep Guardiola will have to find new defenders with Dani Alves suspended, Adriano injured and Eric Abidal awaiting a liver transplant.

Last-place Zaragoza hosts Atletico Madrid on Sunday hoping to build on its 2-1 victory at Valencia on Wednesday, coming from behind to win thanks to Antonio “Apono” Galdeano’s double despite playing with 10 men for more than an hour. The much-needed victory lifts Zaragoza to within five points of safety.

Levante’s coach and players have insisted all season that their goal is avoiding the drop, and they can strengthen their hold on fourth place and Spain’s last Champions League spot with a third consecutive win against Osasuna on Sunday. Marcelo Bielsa’s Athletic Bilbao will look to end a three-game losing run at home against relegation-threatened Sporting Gijon. -AP

Manchester City’s Micah Richards (right) challenges Chelsea’s Gary Cahill during their English Premier League soccer match at the Etihad Stadium in Manchester, March 21, 2012. (Reuters)

PSG cannot keep relying on late goals, says Alex PARIS: Ligue 1 pacesetters Paris St Germain must stop relying on last-gasp goals to win or draw matches, according to their Brazilian center half Alex.

PSG, who have a two-point advantage over second-placed Montpellier at the top of the table, needed stoppage-time strikes to clinch a 2-1 victory at Dijon and a 2-2 draw at Caen in their two last league games.

Carlo Ancelotti’s side then suffered their first defeat in four months when they lost 3-1 at home to Olympique Lyon in the French Cup quarter-finals on Wednesday, failing to recover from a one-goal deficit

despite a strong second-half showing.

“We managed to score in the last minutes of several games but we should have this will to win in the whole match,” Alex told a news conference ahead of Sunday’s home league encounter with Girondins Bordeaux.

“We have to play well and be aggressive for 90 minutes. If we showed the same will to win as we did in the second half yesterday I think we would not lose another game,” added the defender who joined the club from Chelsea in January.

PSG will have midfielder Mohamed Sissoko back from suspension at the

weekend and full back Maxwell returning after injury.

Eighth-placed Bordeaux are without Yoan Gouffran. Their top- scorer in the league with nine goals has a sprained ankle.

Montpellier, who also suffered a shock 1-0 defeat at third tier Gazelec Ajaccio in the French Cup, host sixth-placed St Etienne on Saturday.

Champions Lille, in third position nine points off the pace, travel to Evian Thonon Gaillard on Saturday as fifth-placed Olympique Lyon entertain struggling Sochaux. -Reuters