March 6, 2012

TUESDAY, MARCH 6, 2012

@alwatandaily

Issue No. 1365

20 PAGES

www.alwatandaily.com

150 Fils with IHT

Islamist MPs seek alternatives to Article 2 amendment • ‘Islamization’ of laws sought instead of amendment due to lack of support • Lawmakers to propose bills for plastic surgery, public dress code and harassment

Mohammed Al-Salman Mohammed Al-Khaldi

Staff Writers

KUWAIT: The political scene in the country is due to be impacted by the interpellation that MP Saleh Ashour intends to file against His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah today. The motion, which mainly revolves around four issues, is the first of its kind in the 14th legislative term. Reports have emerged that the interpellation request will be included in the Parliament’s agenda today in order to set a date for its discussion.

In the same vein, an official source has informed Al Watan that the government will seek a two-week adjournment of the interpellation, and revealed that a special committee had been set up to examine the issues contained in any interpellation to be submitted.

The source added that all the options will be on the table as far as the interpellation is concerned.

“The government acknowledges that the majority of MPs will be opposed by the deferral or referral of the interpellation by the Constitutional Court or the Parliamentary Legislative Committee,” the source stated, adding that the premier may cut his visit short if need be. In the meantime, MP Abdullah Al-Bargash declared

his opposition on any plans to refer the interpellation to the Constitutional Court or the Parliamentary Legislative Committee or removing it from the Parliament’s agenda. The Al-Bargash said he is also against discussing the interpellation in a closed-door session, affirming that interpellation is an indisputable right for any MP. In other news, MP Saleh Ashour has addressed a barrage of questions to the Minister of Interior Sheikh Ahmad Al-Humoud Al-Sabah demanding answers for the maltreatment of a Shiite cleric at the airport. He also sought to know the reason why the Ministry of Interior had purchased eavesdropping appliances. Additionally, the MP wanted to know, among others inquiries, the circumstances surrounding the mysterious death of a citizen in Jabriya.

This comes at a time when the Islamic camp, according to an Islamist MP, has abandoned plans to have Article 2 of the Constitution amended after it has realized the difficulty involved in such a measure, in addition to the lack of the necessary majority support to pass the amendment. Article 2 stipulates that “The Islamic Sharia shall be a main source of legislation,” but Islamist lawmakers have previously announced their intention to have it amended, whereby the Islamic law becomes the sole source of legislation. As a result, the

Obama: There’s still time for diplomacy on Iran

US President offers Netanyahu assurances over Iran

WASHINGTON: President Barack Obama, aiming to head off any premature Israeli strike on Iran, sought to assure Prime Minister Benjamin Netanyahu on Monday that the United States would always “have Israel’s back” but said there was still time for diplomacy. Netanyahu, in a show of unity with an American leader with whom he has had a rocky relationship, said at the White House that both Israel and the United States stood together on the need to prevent Iran from obtaining nuclear weapons. “The bond between our two countries is unbreakable,” Obama said.

“The United States will always have Israel’s back when it comes to Israel’s security.” The two men, sitting side by side and smiling at each other in the Oval Office, sought to present a united front in the Iranian nuclear standoff after weeks of mounting concern that Israel would preemptively strike Iran on its own.

In one of the most consequential meetings of US and Israeli leaders in years, they made no mention of any

differences they may have over red lines that could trigger military action to curb an Iranian nuclear program that Israel sees as a threat to its existence. “We believe there is still a window that allows for a diplomatic resolution,” Obama said. Netanyahu made clear that Israel would be the “master of its fate” in deciding how to deal with Iran, which has called for the destruction of the Jewish state.

“It must have the ability to defend itself, by itself, against any threat,” Netanyahu said, echoing remarks Obama made a day earlier in a speech to the powerful pro-Israel lobby AIPAC. Obama has been urging Israel to allow sanctions more time to work against Iran’s nuclear ambitions while balancing that with assurances of his resolve to do whatever is necessary to keep the Islamic republic from becoming a nuclear-armed state. At the White House meeting, Obama told Netanyahu the United States reserved “all options” in dealing with Iran. The president has made clear that would include a possible military component.

“We do not want to see a nuclear arms race in the most volatile region in the world,” Obama said. Iran denies it is seeking nuclear weapons. -Reuters

Syrian refugees pour into Lebanon fleeing violence

Justice Bloc, which is comprised of Islamist lawmakers, decided to swap the amendment of Article 2 with Article 79 of the Constitution.

This latter article stipulates that “No law may be promulgated unless it has been passed by the National Assembly and sanctioned by the Amir.” Islamist lawmakers want to add a phrase to this Article whereby laws passed by the Parliament of His Highness the Amir do not go contrary to the Islamic law. This means instead of amending Article 2 of the Constitution, MPs seek ‘Islamization’ of laws.

The official spokesperson of the Justice Bloc MP Badr Al-Dahoum revealed that the bloc will put forth a range of Islamic-oriented bills to prevent harassment in public places, promote decent dress code, regulate plastic surgeries, set up drugs prevention authority among others.

Al-Dahoum explained that the dress code bill is intended to prevent women from wearing revealing clothes in public places which includes wearing a bathing suit on the beach.

In another development, the Rapporteur for the Parliamentary Legislative Committee Mohammad AlDallal announced that the committee will discuss, as of today, all anti-corruption related proposals, in the presence of the government’s representatives.

Kuwait to partake in Earth Hour on March 31

KUWAIT: The Kuwaiti team for resisting global warming at Volunteer Work Center announced that Kuwait is participating in the international event “Earth Hour” on March 31, 2012 wherein more than 133 countries are expected to partake in this event.

Team member Amar Bahman said that this is Kuwait’s fourth participation where it aims at increasing the environmental awareness amongst society members, particularly regarding the atmospheric changes and its current and future influence on the earth. The team will organize the event in coordination with International Fund for Wild Life.

Bahman added that Earth Hour is an international day where a large number of companies participate in by switching off all unnecessary lights for one hour.

The event doesn`t aim at conserving power, but to prove how human beings are able to reduce emission of carbon dioxide which is produced by burning fossil fuels that can be considered as the main cause behind global warming.He affirmed that such step contributes effectively in raising people awareness and urging the governments to reach to clear agreements to solve global warming problems.

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah and Parliament Speaker Ahmad Al Saadoun at the 18th Arab Inter-parliamentary Union (AIPU) conference which took place in Kuwait on Monday, March 5, 2012.

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12 Kuwaitis on Arabian Business list of 100 Most Powerful Women in 2012 KUWAIT: Twelve Kuwaiti women were highlighted on Arabian Business list of 100 most powerful Arab Women in 2012. Chief Executive Officer of the National Bank of Kuwait Sheikha Al-Bahar was ranked first locally and eighth internationally. She was the only Kuwaiti woman in the Top 10 which was mostly dominated by UAE and Saudi Arabia. The list included Sheikha Hessa Al-Sabah, Soad Al-Humaidi, Maha Al-Ghunaim, Maha Mulla Hussein, Fouziya Al-Duraiy, Rola Dashti, Riham Fouad Al-Ghanim, Ghousoun Ghassan Al-Khaled, Manar Al-Hashash and Hussienya Al-Hashim.

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Thousands contest Putin’s victory at Moscow rally

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Australian state toughens law for Muslim veils

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Nose job, lies force Egyptian lawmaker to quit

An image grab taken from a video uploaded on YouTube on March 5, 2012, shows a man carrying an injured girl on March 4, 2012, in the mainly rebelheld city of Rastan in central Syria. (AFP)

QAA, Lebanon: More than a thousand Syrian refugees have poured across the border into Lebanon, among them families with small children carrying only plastic bags filled with their belongings as they fled a regime hunting down its opponents. The UN refugee agency said Monday that as many as 2,000 Syrians had crossed into Lebanon in the last two days. Associated Press reporters in one More on 4 border village saw families crossing with only a few possessions.

CAIRO: Egypt’s ultraconservative Islamic Al-Nour party said Monday one of its lawmakers has resigned from parliament because he got a nose job and then lied about it, claiming he was beaten.

Lawmaker Anwar Al-Balkimy told police he was attacked last week during an attempt to steal his car while he was driving on a highway on Cairo’s outskirts. He said his attackers also robbed of him more than $16,000. That led to an outcry against Egypt’s government for failing to prevent such crimes, a stream of visitors to the wounded lawmaker in his hospital room and prominent pictures in local newspapers of his heavily bandaged face. Then it turned out there was no carjacking, no beating and no robbery.

Al-Balkimy just had a nose job.

The problem with that is that his party follows a strict line of Islam that forbids cosmetic surgery as meddling in God’s work. Al-Nour had to issue an apologetic statement admitting one of its brand-new lawmakers with the beard of a religious Muslim had lied about such an issue.

Al-Nour party spokesman Nader Bakar was quoted on the group’s official Facebook page telling a local television station that the lawmaker was also expelled from the party. The state prosecutor is waiting for Al-Balikimy’s diplomatic immunity to be lifted to begin investigating the claim of attack.

If found guilty of lying, he could face prison on charges of falsely “creating anxiety among the public” and “worrying public officials.” -AP

Picasso painting worth $80 million up for sale in UK

Pokot youths perform a dance at the Gallmann nature conservancy near Kinamba, Laikipia, Northern Kenya on March 4, 2012. High Priest Shinso Ito and a group of Shinnyo-en priests arrived in Kenya to perform a Buddhist fire and water ceremony for the first time ever in Africa.The ceremony was attended by over 300 spiritual leaders and was streamed live on the internet to millions of viewers and devotees globally. (AFP)

LONDON: An important early work by Pablo Picasso painted when he was just 19 or 20 has been put up for sale by its aristocratic Welsh owners, and is estimated to be worth around 50 million pounds ($80 million).

The intention to sell “Child With a Dove”, a 1901 work which marked the beginning of the Spanish artist’s “blue period”, was posted on the website of the Arts Council England which has some say over whether important works of art are allowed to be sold abroad.

The painting, depicting a child holding a dove next to a colored ball, belongs to the Aberconway family, and was loaned to the Courtauld Gallery in London only last year, according to the Sunday Times, which first reported the intended sale.

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Supporters of Russia’s Prime Minister Vladimir Putin wave flags as they gather in central Moscow March 5, 2012. (Reuters)

MOSCOW: Thousands of protesters chanting “Russia without Putin” took to the streets of Moscow and St Petersburg on Monday to challenge Vladimir Putin’s victory in a presidential election which international monitors said was unfair. Putin, who secured almost 64 percent of votes on Sunday, portrayed his return for a third term as president as a strong mandate to deal with the protests although the Kremlin made some conciliatory moves towards the opposition that were ignored. Police detained at least 50 people at an unsanctioned rally of about 3,000 people in St Petersburg, witnesses said. Police said they had detained 50 in central Moscow but allowed a protest by thousands more people to go ahead nearby. “Yesterday was not a vote. The crowd, waving flags and anti-Putin banners, roared back: “No!” “They fear us ... but we do not fear these monsters,” Nemtsov said. Hundreds of Putin supporters staged rallies closer to the red walls of the Kremlin, singing songs, waving Russian flags and chanting See also 5 the prime minister’s name. -Reuters

Research shows social media makes you shy NEW YORK: Social media doesn’t always make people more social. In fact, when it comes to making certain purchases, the mere presence of a social media icon - such as one representing Facebook or Twitter - will scare people off.

That’s according to research that found the presence of a Facebook “Like” button or a Twitter symbol on a shopping website increases the likelihood that consumers will buy some products and reduces the likelihood that they will buy others reports LiveScience. According to the study, consumers who saw a social media icon near a product that might embarrass them were significantly less likely to buy that product than those who saw the same product without the icon. On the other hand, consumers who viewed products they would be proud to show off were significantly more likely to buy than those who saw the same More on 15 product with no such icon.

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ALWATAN DAILY

kuwait

tuesDAY, march 6, 2012

AIPU should help suffering Syrians, says Chairman KUWAIT: The scheduled 18th Arab Inter-parliamentary Union (AIPU) conference began its activities here on Monday under the sponsorship of His Highness the Amir Sheikh Sabah AlAhmad Al-Sabah.

The Amir was received at the Parliament by Speaker Ahmad Al-Saadoun and personnels in charge of organizing the event.

The conference is attended by His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, the former speaker Jassem Mohammad Al-Kharafi, senior Sheikhs, His Highness Sheikh Nasser Al-Mohammad AlAhmad Al-Sabah, Acting Prime Minister and Minister of Interior Sheikh Ahmad Al-Humoud Al-Jaber Al-Sabah, Deputy Minister of Amiri Diwan Affairs Sheikh Ali Jarrah Al-Sabah and senior state officials.

At the opening, Ali Al-Doqbasi said that the conference should focus on means to help the Syrian people with resolutions aimed at ending their suffering. “It is necessary to stop the massacre

perpetrated by the Syrian regime against their people,” he said, adding that it was the right of the Syrian people to live in a just, democratic, and free Syria.

On other items, Al-Doqbasi hoped that the conference would also address problems effecting the Arab social and economic securities and namely unemployment.

Since its inception in 2005, the AIPU focused on efforts to spread welfare and security in the Arab world, noting that the union was on a mission to intensify Arab cooperation through the cooperation of Arab parliamentarians.

The AIPU is always willing to cooperate other entities such as the Arab League which played an integral part in formulating the general statute of the union, affirmed Al-Doqbasi.

Meanwhile, Secretary General of Arab Inter-Parliamentary Union (AIPU) Noureddine Bou Kachouj said that although the Arab spring movement has begun last year, yet its effects are still lingering to the present day.

“The crowds are still calling for free-

Police disperses bedoun protest in Taima Hamad Al-Jedi Staff Writer

KUWAIT: Jahra policemen dispersed within two hours time a bedoun (stateless Arabs) protest that began at 9:30 pm two days ago.

Residents informed the concerned authorities, who sent patrols cars to chase the protestors, that the bedoun were gathering among houses while holding signs and flags. It is worth noting that Al-Najashi Street witnessed heavy security measures and several checkpoints to control the situation in case the bedoun attempt to gather again.

Concerning the case where a Qatari ran over citizen Ahmed Assad by car, the crime was charged as a planned attempt of murder.

The report of the Criminal Evidence shows that Assad’s blood did not have any traces of alcohol.

In another development, the Court of Appeal postponed the case of the Iranian espionage network that involves seven suspects to April 16, while the Criminal Court sentenced a tweeter for two years in jail, in addition to paying 100 Kuwaiti dinars to suspend the sentence. The suspect’s cell phone was confiscated after slandering the head judge. Meanwhile, the defense lawyer of former MP Dhaifullah BuRamiah asserted that his client paid 5001 Kuwaiti dinars as compensation to former Minister of Finance and Oil Bader AlHumaidi, in addition to paying KD 6,500 as a fine.

Marriage loan hikes to KD 6,000

KUWAIT: Minister of State for Housing Affairs issued a resolution lifting maximum ceiling of the first marriage loan to KD 6,000 and stipulating that the ministry of finance pay back KD 2,000 and the debtor pay the remaining sum in equal monthly interest-free installments.The resolution, issued by the minister Shuaib Al-Muwaizeri, also the Minister of State for National Assembly Affairs, was based on the law number 30 (1965), the Minister of State for Housing Affairs’ resolution number 3 (2012) regarding the constituent law of Kuwait Credit and Savings Bank and the resolution number 95 (2007) concerning the law of the social loans, as well as approval of the board of the bank, at its meeting, held last November.

The resolution’s first provision stipulates amending the first paragraph of article 3 of the resolution No. 95 (2007). -KUNA

Speaker urges Arab parliaments to play effective role

KUWAIT: Arab parliaments should shoulder heavy responsibility in combating corruption and maintaining rule of law, affirmed Speaker of the National Assembly Ahmad Al-Saadoun on Monday.

Addressing inaugural session of the 18th Arab Inter-parliamentary Union (AIPU) conference, Al-Saadoun said the Arab parliaments should bear the great responsibility of realizing the peoples aspirations, namely combating financial and administrative corruption, enforcing security and shoring up national economy for sake of ensuring wise governing and rule of the law.

Affirming that establishment of a democratic system is not an easy task and cannot be attained “with a single step,” the veteran Kuwaiti lawmaker noted that liberation from dictatorship ruling warrants free elections, freedom of expression, establishment of a regime that ensures respect for individuals’ will and dignity, coupled with fundamental social, economic and political changes.

Civil associations can play a basic role for promoting political awareness and boosting human rights, the speaker said, noting that democracy could be largely measured on basis of efficiency and independence of such establishments.

Welcoming the eminent guests, Al-Saadoun expressed gratitude to His Highness the Amir for patronizing the convention, expressing hope that it would be crowned with success. He also thanked AIPU Chairman and Head of the Qatari Shura Council Mohammad AlKhulaifi for enormous efforts he had exerted during his service as the former head of the union.

Elaborating, Al-Saadoun, a renowned legislator who served for long years as the chairman of the Kuwaiti parliament and member of the assembly, touched in his address on the “Arab spring” events, saying that the Arab world had witnessed, since the AIPU conference, held in Qatar last February, very critical and sensitive events, also describing these developments as unprecedented and strategic.

Main motive for these events was aspiration of the Arab peoples to live a dignified life, with reforms, political and civil rights.

On the Palestinian question, Al-Saadoun affirmed inability of the international community to halt Israel’s aggression and end its occupation of Arab territories. He also criticized the Quartet, accusing some of its members of being biased in favor of Israel. He called on the federation member states to help in re-unifying Palestinian ranks.

Regarding Syria, he assailed “the oppressive regime for perpetrating massacres against the Syrian people,” and expressed frustration for failure of the Security Council to pass a resolution against Damascus. He called on the member states to coordination with international and regional bodies to help in securing humanitarian aid for the Syrian people.

In conclusion, Al-Saadoun expressed hope the conferees would end their gathering with recommendations “that might meet aspirations and hopes of the Arab peoples”. -KUNA

dom, democracy, respect of law, countering corruption and elimination poverty,” he added. He clarified that the uprisings against old regimes have worked well in some Arab countries; however, “the path is still long ahead for the people of these nations to achieve what they want from their governments.” These collapsing regimes systems face two challenges; inner containment and outer interference that try to impose unfit policies, he said.

Arab countries are at a “dangerous” crossroad because regimes are incapable of fixing their problems; they lack Arab solidarity and face imminent challenges with terrorism, Kachouj pointed out in his speech.

As examples of the weak Arab systems, Kachouj referred to the Syrian situation, which left many civilians dead or stranded without food or fuel for many months; a drastic situation that might lead to a civil war if not put an end to it.

In addition to the Palestinian front that is always in a constant clash with unjust Israeli policies. -KUNA

His Highness the Amir and His Highness the Crown Prince stand for a group photo with Arab Parliament Speakers prior to the conference which took place in Kuwait on Monday, March 5, 2012. (KUNA)

GCC urges Iraq to identify remains of Kuwaiti prisoners, return nationals RIYADH: The Gulf Cooperation Council (GCC) states called on Iraq to quickly work on identifying the remains of the Kuwaiti prisoners and third-country nationals as well as returning the of Kuwaiti national archive and pay compensations for Iraqi farmers.

The GCC foreign ministers, in a final communique following their meeting here Sunday, urged Iraq to complete maintenance of border signs with Kuwait in line with UN resolution 833 and finalize payment of com-

Staff Writer

pensations for the Iraqi farmers in accordance with UN resolution 899.

Iraq should comply with all UN resolutions related to the former regime’s invasion and occupation of Kuwait in 1990-91, noted the communique.

The foreign ministers urged the UN and relevant organizations to contribute in helping Iraq honor its international obligations.

They reasserted commitment to the sovereignty, in-

dependence and territorial unity of Iraq.

Iraq, they added, should build confidence with neighboring countries on the basis of good neighborliness and non-interference in internal affairs.

The GCC foreign ministers called on all parties in Iraq to join hands to achieve national conciliation in a drive to honor aspirations of the Iraqi people and building a country that would be stable, safe, respects human rights and based on supremacy of law. -KUNA

Legislative Committee will discuss anti-corruption proposals today

KUWAIT: The Parliament’s Legal and Legislative Affairs Committee approved Sunday two bills regarding the establishment of the applied university and the expropriation of Blocks no. 5 & 10 in Khitan residential area.

The committee will meet on Sunday to discuss all bills related to the amendment of Penal Code.

In a press statement on Monday, Rapporteur of the

committee MP Mohammad Al-Dallal said that the committee will discuss on a number of issues on its agenda, including a draft law to transfer the Fatwa and Legislation Department into an independent authority. He added that the committee sees that the said bill is important; hence it will form a committee including MPs Dr. Obaid Al-Wasmi, Dr. Faisal Al-Yahya and Mohammad Al-Dallal to discuss all details related to the law and to submit the final draft to the committee.

Al-Dallal added that the committee discussed a number of proposals to amend the Procedure Act and will hold a meeting to discuss all proposals related to the law in the presence of representatives of the Public Prosecution and the Judiciary System.

Al-Dallal said that the committee will meet today to discuss anti-corruption proposals, noting that the government did not submit any draft laws on this issue, but will submit a new draft law this week.

12 Kuwaitis make Arabian Business’ list of 100 Most Powerful Women in 2012 Compiled by Al Watan Daily

KUWAIT: Twelve Kuwaiti women made it to the ranking of the 100 most powerful Arab Women in 2012.

Chief Executive Officer of the National Bank of Kuwait Sheikha Al-Bahar was ranked first locally and eighth internationally. She was the only Kuwaiti woman in the Top 10 which was mostly dominated by UAE and Saudi Arabia.The list included Sheikha HessaAl-Sabah, Souad Al-Humaidi, Maha Al-Ghunaim, Donna Al-Sultan, Maha Mulla Hussein, Fouziya Al-Duraiy, Rola Dashti, Riham Fouad Al-Ghanim, Ghousoun Ghassan AlKhaled, Manar Al-Hashash and Hussienya Al-Hashim.

Most of the sectors dominated by Kuwaiti women were Banking and Finance, Culture and Society, Construction and Industry, Government, and IT & Telecom. Four women were part of the Banking and Finance sector, while five were among the Culture and Society. The rest of the sectors included one each.

Shaikha Lubna Al Qasimi, UAE Minister of Foreign Trade, has been voted the most powerful Arab woman in 2012 by Forbes magazine.

She was ranked among the 100 most powerful women in the world in this year’s list of the most influential women in politics, business, media and “lifestyle”.

Scanning the top 100 Arab women in the region, 13 percent work in banking and finance and are making a radical difference to Arab society. Lubna Olayan employs over 10,000 people across 50 divisions and she has help position her company, the Olayan Group, as one of the largest investors in the region’s stock markets. Her work has also paved the way for other female CEOs as she became the first woman to speak at a mixed conference in Saudi Arabia when she addressed the Jeddah Economic Forum in 2004. Fatima Al Jaber manages assets of nearly US$5bn and her construction firm, Abu Dhabi-based Al Jaber Group, has built more than 5,500 villas across the UAE. In doing so, she has created employment for over 50,000 people and demonstrates why 13 percent of women on the list are employed in the construction and industry sector.

Dubai has long strived to establish itself as the main media hub in the region and steering that dream to reality is Dr Amina Al Rustamani, CEO of Tecom Business Parks.

The media free zone operator currently counts 4,500 firms under its umbrella, which Al Rustamani aims to grow to 7,000 in ten years. With such a vision, it is almost certain that media will represent more than 12 percent of the rankings when 2022’s list is compiled.

Retail accounts for six percent of the women this year, while transport accounts for four, science three and two each for government, sport and IT and telecoms.

Sheikha Al-Bahar

Sheikha Hessa Al-Sabah

Souad Al-Humaidi

Maha Al-Ghunaim

Donna Al-Sultan

Maha Mulla Hussein

Fouziya Al-Duraiy

Rola Dashti

Riham Fouad Al-Ghanim

Ghousoun Ghassan Al-Khaled

Manar Al-Hashash

Hussienya Al-Hashim

ALWATAN DAILY

KUWAIT

TUESDAY, march 6, 2012

Kuwait Airways seeks to approve salary increase for employees

MP Dashti says Syrian file should be discussed in Foreign Affairs Committee, not session

Mohammad Atef Staff Writer

KUWAIT: MP Abdulhameed Dashti warned that if Shiite scholars are hassled at the country border’s ports, he will have a parliamentary interpellation against the Minister of Interior Ahmad Al-Humoud, pointing out that there is an obvious leak as police investigative record are available on Facebook, Twitter and Youtube.

Interviewed by Al Watan’s TV program Political Scene, the MP pointed out that during the last session many MPs were involved in attacking one another verbally. Dashti attributed such behavior to the Syrian File, which was not included in the parliamentary session. In his opinion, there was an agenda already for the MPs to discuss, but some decided to include the Syrian issue in the agenda when it could be easily included in the parliamentary Foreign Affairs Committee as such issue “is not a priority for the Kuwaiti people”.

The MP added that he was threatened by the Speaker of the National Assembly of

FILE - Kuwait Airways employees are seen participating in a strike on Oct. 24, 2011 next to a sign that reads “striking is the way of receiving our rights”. Kuwait Airways Chairman Yousef Al-Hemeidi said on Monday that the company is seeking to increase the salaries of employees. (Al Watan)

KUWAIT: Kuwait Airways Chairman Yousef AlHemeidi said in a statement on Monday that the new management is seeking to approve the salary increase of its employees and other rightful demands, in order to boost their productivity. On Saturday, Labor Union secretary of Kuwait Airways employees Hussein Habib criticized the government for taking the demands of the employees lightly and making unfulfilled promises.

However, Al-Hemeidi said that the company is waiting for a nod from the government to develop its fleet, after the company had submitted a request earlier. Al-Hemeidi said that despite the fleet’s old aircrafts, the margin of their malfunction is very low as a result of the high competency of the maintenance department.

Yet Habib said that Kuwait’s aviation fleet fails to compete with other airlines in the Gulf Cooperation Council (GCC) countries, given the drastic developments in the sector, which it has proved its inability to cope up with. He stressed that the union will not hesitate to begin a strike, adding that further steps will be taken to prompt the government to grant employees their raise and allowances that were mentioned in the contract signed in October 2011 in order to preserve the rights of the employees. He highlighted the fact that the government has sparked the strike by ignoring and foot-dragging the rights of the employees. Kuwait’s Labor Union Federation stressed that the mega

sit-in called for on Wednesday at 7:00 pm in Hawally Roundabout is situated. It is worth noting that this strike comes in response to the delay of the Civil Service Commission in granting the ministry’s employees their deserved allowances. The sit-in aims to support the just demands of the different unions and negotiating appropriate solutions.

Meanwhile, speaking at the annual celebration held to honor the employees for 2010, Al-Hemeidi revealed that the company enrolls its engineers in training courses in order to maintain its safety record, in addition to developing the skills of its senior officials. He noted that the company holds an annual celebration to honor its distinguished employees to encourage them to exert more effort.

Moreover, he mentioned that the company is approaching a turning point in the history of national institutions, and mentioned that the company relies on its employees to play a pivotal role in reaching new horizons.

Furthermore, he said that after receiving such intensive training courses, it is time for the employees to pay back the company through sterling efforts to overcome the current challenges that the company is witnessing. He noted that 329 employees were honored during the annual celebration, in addition to other employees who have been working for the company for the past 20 years.

Nuclear Medicine conference focuses on basic pillars of field developing

dismissal from the parliamentary session.

The MP said that he is not supportive of the Syrian President Bashar AlAsad’s regime, but that he entertains “a pure Kuwaiti stance.” He explained that since the issue is raised in the parliament which is there for the MPs to discuss matters and topics related to the country and its people, then it would be most fitting to discuss and raise matters related to national issues. He expressed his deepest sympathy to the Syrian people and criticized the practices carried out by some thugs against innocent people. He said that the only thing he is against is to attack people in line with the state of Kuwait’s policies.

As for the Shiite scholars and the report that they were harassed by the border security police, the MP said that he supports a rationalistic approach for the best interest of the country. He said the Shiite MPs are a minority comparing to the rest of the MPs. He added that this particular incident has become a recurrent matter as two Shiite scholars had

KUWAIT: Minister of Commerce and Industry Anas Al-Saleh stressed the importance of boosting food security as a top priority on the Ministry’s agenda of providing people’s basic needs. Al-Saleh told Kuwait News Agency (KUNA), on Monday, that the ministry is fully committed to adhere to its responsibility to ensure the availability of food and provide easy access to it for everyone.

The stability of local market and boosting food security go in accordance

with the cabinet’s recommendations to provide for the consumers’ needs in the country. The Kuwaiti Minister said that he assigned different bodies at the ministry to follow up on the egg shortage problem in some of the local markets. He added that the issue was resolved after a meeting with egg producers union, Union of Consumer Co-Operative Societies and the Ministries of commerce and Social Affairs. He pointed out that there will be no tolerance for any violations that might

programs through symposiums and lectures, particularly after the “huge leaps” of development witnessed in nuclear medicine and radioactive materials, which goes in line with international developments.

In addition, he noted that the three-day conference is to review the challenges physicians encounter in dealing with the latest developments in nuclear, hybrid, and micro imaging.

On his part, Dr. Masoud Mohammad, Head of the Nuclear Medicine Department at the Ministry, stressed that nuclear medicine specialty is an important one, noting that beginnings of this medicine is dated back to the 1960s.

Dr. Mohammad pointed out that this conference is considered the first in Kuwait that uses interactive voting system for participants during series of daily discussions with visiting consultants. -KUNA

Kuwait to partake in GCC meeting in Jeddah

JEDDAH: Kuwaiti member of the GCC’s Supreme Consultative Council Sulaiman Al-Shaheen arrived in Jeddah late Sunday to partake in the council’s 15th meeting that is set to start on March 6-7. Al-Shaheen told Kuwait News Agency (KUNA) that the meeting would discuss the formation of a GCC confederation in addition to topics related to civil aviation, health, employment, and the youth.

The Kuwaiti official also touched on the Saudi

initiative, proposed during the 32nd GCC Summit held in Riyadh by King Abduallah bin Abdulaziz last December, which called for transforming the GCC into a Union, saying that the issue would be brought up during discussions.

The GCC consultative committee was came to be on a resolution which came out of the 18th GCC summit which was held in Kuwait. The committee consists of 30 members, with each GCC state having five representatives. -KUNA

affect any food item, whether in price or quality, in local markets, clarifying that laws on such matter are “clear” and should be followed by all.

He further noted that local producers have first priory to supply the local markets before turning to products from international markets.

Lastly, he reassured that prices are being scanned on a regular basis in order to protect the consumers against any fraud and to support local markets. -KUNA

FM discusses ties with top Tunisian lawmaker

KUWAIT: Deputy Prime Minister, Foreign Minister and Minister of State for Cabinet Affairs Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah received on Monday Head of Tunisia’s Constituent Council Dr. Mustafa Bin Jaafar.

Sheikh Sabah Al-Khaled discussed with the leading Tunisian legislator, during the meeting, held at the foreign ministry building, bilateral ties and means of common interest.

The meeting was attended by Foreign Ministry Undersecretary Ambassador Khaled Sulieman Al-Jarallah, Director of the Arab world affairs department Ambassador Jamal Abdullah Al-Ghanem, the director of the minister’s bureau, Ambassador Sheikh Dr. Ahmad Nasser Al-Mohammad Al-Sabah.

Present from the Tunisian side were the Ambassador to Kuwait, Mustafa Bahia, and members of the visiting delegation. -KUNA

Deputy Prime Minister, Foreign Minister and Minister of State for Cabinet Affairs Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah receiving Head of Tunisia’s Constituent Council Dr. Mustafa Bin Jaafar on Monday, March 5, 2012. (KUNA)

KUWAIT: Minister of Social Affairs and Labor Ahmad Abdulateef Al-Rujeib affirmed on Monday necessity of boosting further Kuwait’s relations with the United States and the United Kingdom.

Minister Al-Rujeib, a retired Lieutenant General, made the affirmation during separate meetings with the US Ambassador to Kuwait Matthew Tuller and UK Ambassador Frank Baker, according to a ministry statement.

Al-Rujeib affirmed necessity of enhancing cooperation and strengthening the historic relationship with the two friendly countries in various spheres. -KUNA

KUWAIT: The second annual conference of Kuwait Society of Nuclear Medicine (KSNM), entitled “Updates in Hybrid Imaging and Nuclear Cardiology,” took place on Monday with the participation of a number of elite international consultants in nuclear medicine, notably from the US, Brazil, Netherlands, Saudi Arabia, and Kuwait.

In his opening speech at the conference on behalf of Health Minister Dr. Ali Al-Obaidi, Dr. Khalid AlSahlawi, Ministry’s Assistant Undersecretary for Technical Affairs, said that Kuwait has set up many scientific plans in order to support the basic pillars of improving the entire field of medicine sciences and provide meaningful medical researches with full support.

Also, Dr. Al-Sahlawi added that holding this conference comes under the framework of care which the Ministry of Health holds to provide medical education

already been harassed as they were traveling to the Lebanese capital Beirut. He also said that similar incident happened when a Shiite religious campaign was about to leave the country.

The MP said that he would not hesitate to question the Minister of Interior over the incidents as well as the issue of the police reports leak on famous social networking services such as Facebook and Twitter as well as Youtube. He said evidence are available on the internet concerning the case of an Iraqi woman who was falsely accused and Ahmad Asad who was run over by a Qatari national. Finally, MP Dashti said that he will work on writing off citizens’ debts.

He said that he will propose the setting of a public authority to deal with the debts, adding that such authority would be headed by a judge from the Court of Appeal. The authority will have representatives from the Central Bank, Ministry of Finance, Chamber of Commerce, Kuwait Economic Society and Kuwait Labor Union.

Food security tops Commerce Ministry’s agenda: Al-Saleh

Minister Al-Rujeib calls for enhancing ties with US, UK

International consultants are seen at the inauguration of the second annual conference of Kuwait Society of Nuclear Medicine that kicked off on Monday, March 5, 2012. (Al Watan)

3

Philippines PNRC chairman hails bilateral ties, offered aid

KUALA LUMPUR: Chairman of Philippine National Red Cross (PNRC) Richard Gordon Monday hailed the deep-rooted bilateral ties between his country and Kuwait, which date back to several decades. Kuwait hosts around 140,000 Filipino workers, who contribute in building the Kuwaiti economy and support their families financially, Gordon told Kuwait News Agency (KUNA).

Kuwait is a distinguished destination for Filipino workers, being an attractive work environment, respecting human rights and providing decent living, he said.

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah is scheduled to visit the Philippines by the end of this month in a move aimed at strengthening the ties between the two leaderships and people, he said.

Kuwait investments in the fields of tourism, aviation, storaging and hospitals management in Philippines is of high importance, especially in provinces like Mindanao, and Sobek, he affirmed.

Kuwait was a pioneer in offering humanitarian relief to Philippines through Kuwait Red Crescent Society (KRCS), besides the donations of USD one million to PNRC. Kuwait is due to sign a cooperation agreement with PNRC as some nations did like Germany, Spain, Australia and Japan, PNRC chairman said.

Kuwait and the Philippines share similar policies towards a number of vital issues, like the Middle East peace process and the war on terrorism. Philippines supported the Kuwaiti sovereignty during the Iraqi invasion in 1990, he said. Investing in southern Philippines is considered as a strategic step towards maintaining peace and stability in the region of Mindanao which suffered from conflicts between Muslim and Christians for long decades. -KUNA

Kuwait partakes in Earth Hour on March 31

KUWAIT: The Kuwaiti team for resisting global warming at Volunteer Work Center announced that Kuwait is participating in the international event “Earth Hour” on March 31, 2012 wherein more than 133 countries are expected to partake in this event.

Team member Amar Bahman said that this is Kuwait’s fourth participation where it aims at increasing the environmental awareness amongst society members, particularly regarding the atmospheric changes and its current and future influence on the earth. The team will organize the event in coordination with International Fund for Wild Life.

Bahman added that Earth Hour is an international day where a large number of companies participate in by switching off all unnecessary lights for one hour. The event doesn`t aim at conserving power, but to prove how human beings are able to reduce emission of carbon dioxide which is produced by burning fossil fuels that can be considered as the main cause behind global warming. He affirmed that such step contributes effectively in raising people awareness and urging the governments to reach to clear agreements to solve global warming problems. Bahman said that this event became international last year after 5,251 cities of more than 135 countries around the world participated. More than 1.8 million people switched off the lights from 8:30 pm to 9:30 pm on March 26, 2011. Kuwait participated last year by switching off lights at Kuwait towers, Liberation Tower, the Scientific Center in addition to more than 90 commercial complexes, embassies, hotels and companies. -KUNA

IICO’s fundraising campaign for Syria reaches $11.75 million KUWAIT: The Chairman of the International Islamic Charitable Organization (IICO) Dr. Abdullah Al-Maatouq announced on Monday that IICO’s fundraising campaign in favor of Syrian people has so far reached 11.756 million US dollars.

In a press statement, Al-Maatouq expressed deep appreciation and gratitude to His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah for his generous donation, which had a vital reflection on the support of the campaign, as well as on the way citizens and residents interacted toward it.

On Sunday, HH the Amir has donated USD five million, on behalf of Al-Sabah family, to help alleviate suffering of the Syrian people. -KUNA

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ALWATAN DAILY

regional

Al-Balkeemi’s nose

By Hossam Fathi

KUWAIT: I have no idea why there is a great fuss about Salafist MP Anwar Al-Balkeemi’s nose. AlBalkeemi was expelled by Al-Nour Salafist Party and the party asked the parliament to expel him too. However, Al-Balkeemi resigned to keep his face. Since this man was a member of a Salafist party, he should have abided by the fatwas of its scholars concerning plastic surgeries, or resigned, in order not to embarrass his party with such an individual act. He also lied when he claimed that he did not undergo any plastic surgeries for his nose, but only medical surgeries.

However, Al-Nour Party won all cards in this game by supporting Al-Balkeemi at the beginning, where the party threatened to resort to legal action against those who accuse Al-Balkeemi of lying. The party also made a wise step when it formed an investigations committee that headed to the hospital to determine the type of surgery Al-Balkeemi had undergone, before expelling him from the party and filing a request to the head of parliament Saad Al-Katatni to expel him from the parliament.

In addition, the party issued a statement saying that Al-Balkeemi has resigned from the party and the parliament, and issued a formal apology to all Egyptians for the inconvenience he had caused. hossam@alwatan.com.kw Twitter:@hossamfathy66

NEWS IN BRIEF Small bomb blast near Turkish PM building ANKARA: A small bomb exploded near the Turkish prime ministry building in the capital Ankara on Monday, about an hour before a cabinet meeting was due to be held there, and one person was slightly injured, officials said. Police closed off the area where the explosion took place, at the entrance to a car park for both the prime ministry and the Appeals Court. Police described it as a percussion bomb, a device which makes a loud noise, but causes little damage. “It is understood that the explosive material was 150 grams (5.2 ounces) of light explosives placed inside a plastic bottle,” Ankara Governor Alaadin Yuksel told reporters. -Reuters

139 dead in Yemen fighting, 55 troops held captive SANAA: Al-Qaeda militants launched a surprise attack against army bases in southern Yemen, killing 78 soldiers, seizing weapons and parading 55 troops they had taken captive through the center of a town under their control, military officials said. The battle in Abyan province shows how militants have taken advantage of the political turmoil created by the year-long uprising against then-President Ali Abdullah Saleh who last month handed over power to a successor. Military officials in Yemen said 28 militants also died in the fighting and scores were wounded on both sides. Medical officials confirmed the latest death toll. Militants also took another 55 troops hostage during the surprise attack against army bases just outside Abyan’s provincial capital of Zinjibar, military officials said. -AP

UN-Arab League envoy Annan to Syria on March 10 CAIRO: The UN-Arab League special envoy to Syria, Kofi Annan, will travel to Damascus on Saturday for his first visit since being appointed to the post, the organization said on Monday. “Kofi Annan told me that Syria will receive him on March 10 and that he would arrive in Cairo on March 7,” Arab League Secretary-General Nabil Al-Arabi told reporters at the group’s Cairo headquarters. Annan was appointed last month as joint special envoy on the Syria crisis. Nasser Al-Kidwa, a Palestinian diplomat appointed as deputy to Annan will travel with him to Syria, Al-Arabi said. -Reuters

TUESDAY, march 6, 2012

Syrian refugees pour into Lebanon fleeing violence QAA, Lebanon: More than a thousand Syrian refugees have poured across the border into Lebanon, among them families with small children carrying only plastic bags filled with their belongings as they fled a regime hunting down its opponents.

The UN refugee agency said Monday that as many as 2,000 Syrians had crossed into Lebanon in the last two days. Associated Press reporters in one border village saw families crossing with only a few possessions.

“We fled the shelling and the strikes,” said Hassana Abu Firas in Qaa in northeast Lebanon. She came with two families who had fled government shelling of their town Al-Qusair.

The town is in Homs province, an opposition stronghold where the government has been waging a brutal offensive for the past month.

The province borders Lebanon.

“What are we supposed to do? People are sitting in their homes and they are hitting us with tanks. Those who can flee and those who can’t will die sitting down,” she said.

Homs, the provincial capital and Syria’s third-largest city with one million residents, has emerged as a central battleground in the yearold uprising to oust authoritarian President Bashar Assad.

Activists say hundreds have been killed in the month-long Homs offensive and the UN recently put the death toll for a year of violence in Syria at 7,500. However, activists group say the toll has already surpassed 8,000.

The crackdown in Homs also killed an American reporter and a French photographer who sneaked into the country and filed their final reports shedding light on the horrors of life under assault and the quickly swelling humanitarian catastrophe in the city.

The hardest hit district of Homs is Baba Amro, an area that had been held by rebels

Lebanese anti-Syrian regime salafist protesters, wave the Syrian revolution flag as they shout slogans against Syrian President Bashar Al-Assad during a demonstration in downtown Beirut, Lebanon, March 4, 2012. (AP)

for several months before regime forces drove them out on Thursday. On Monday, the Red Cross said it had received permission to enter Baba Amro, but had not entered yet.

The Red Cross has been distributing aid around other parts of Homs for the past two days, but the regime has blocked it from entering Baba Amro since relief workers arrived in the area on Friday. Activists alleged that after the Syrian forces seized back control of Baba Amro, they killed dozens of residents execu-

tion-style and burned homes in revenge attacks against those believed to be supporting the rebels. The Syrian government claims it has been blocking access to Baba Amro out of security concerns.

Homs activist Mulham Al-Jundi accused Syrian forces of keeping aid teams out of Baba Amro to hide their activities there. He said he heard a few explosions in the neighborhood and saw columns of smoke there from a rooftop elsewhere in the city.

Iran dismisses execution sentence of ex-Marine Parliament holds first post-election session

TEHRAN: Iran’s supreme court on Monday dismissed an execution sentence passed by a revolutionary court against an Iranian-American national accused of spying for the CIA, the semi-official Fars news agency reported.

“The supreme court nullified the execution sentence against Amir Mirza Hekmati and sent it to an affiliate court,” said judiciary spokesman Gholamhossein Mohseni-Ejei without giving further details.

Hekmati, a 28-year-old of Iranian descent born in the state of Arizona, was arrested in December and Iran’s Intelligence Ministry accused him of receiving training at US bases in neighboring Afghanistan and Iraq. The United States urged Iran to grant Hekmati access to legal counsel and to release him without delay. Iran’s judiciary said Hekmati admitted to having links with the CIA but denied any intention of harming Iran, which has had no relations with the United States since its 1979 Islamic Revolution. Mutual antagonism has reigned since.

The State Department has said Iran did not per-

mit diplomats from the Swiss Embassy, which represents US interests in Iran, to see him before or during his trial. Hekmati graduated from a Michigan high school. His father Ali is a professor at a community college in Flint, Michigan.

Iran, which often accuses its foes of trying to destabilize its Islamic system, said in May it had arrested 30 people on suspicion of spying for the United States and later 15 people were indicted for spying for Washington and Israel.

Meanwhile, Iran’s parliament held its first session after Friday’s parliamentary election. During Monday’s session there was no immediate move to summon President Mahmoud Ahmadinejad.

On Feb. 7 Iran’s parliament decided to summon Ahmadinejad for questioning over a long list of accusations, the first such summons of an Iranian president since 1979 when the revolution installed an Islamic government in Iran. Under the law Ahmadinejad can appear at parliament to answer the questions within one month. The parliament was on a three-week vacation ahead of last Friday’s elections. Conservative opponents of Ahmadinejad won a majority of the seats. Ahmadinejad has been under increasing attacks in recent months from the same hard-liners who brought him to power. -Agencies

25 police killed in western Iraq: Officials

Weapons smuggling into Egypt from Libya increases CAIRO: The number of weapons smuggled into Egypt across the Libyan border is on the increase, with thousands of weapons flooding into the country, security officials said on Monday. They said residents of southern Egypt, where extended families often accumulate large arsenals to protect property and settle feuds, are the main buyers.

The officials said 576 weapons including modern sniper rifles were seized by police in the last three months in the Egyptian oasis of Siwa near the Libyan border. The number of weapons that reached buyers undetected is believed to be five times the number seized. Weapons smuggling out of Libya surged after its 2011 civil war, which freed up large numbers of arms for export. The officials spoke on condition of anonymity because they were not authorized to speak to the media.

The smuggling of weapons across the Libyan border fuels Egypt’s persistent security woes.

The nation’s much-hated police are yet to fully retake the nation’s streets after they retreated in notyet-explained circumstances early in last year’s uprising that toppled longtime leader Hosni Mubarak.

Thousands of inmates, including hardcore criminals, remain at large a year after a series of jailbreaks that took place when police first melted away 13 months ago.

The availability of weapons, coupled with the thin presence of police on the streets, has emboldened criminals to commit crimes that had been rare in Egypt, like armed robberies, hijacking armored vehicles carrying cash for banks, setting up fake checkpoints to rob passengers on highways and kidnapping children for ransom.

Rights activists and some politicians accuse the army generals who took over from Mubarak for the continued precarious security, arguing that the military had the resources and manpower to restore security. They cite the near total absence of violent incidents during recent parliamentary elections for which army troops provided security. -AP

“We have heard explosions in Baba Amro, so it seems that they are destroying some of the houses and important centers there,” he said via Skype. The head of the Syrian Red Crescent in Homs province, Shueib Shaaban, said aid teams would enter part of the area Monday.

Shaaban said authorities said the group could enter all of Baba Amro on Tuesday and that the group was sending three trucks with aid for the neighborhood.

The Red Cross has said the greatest needs are food, medical supplies and blankets, due to frigid temperatures and snowfall.

The violence in Homs sent many families fleeing into nearby neighborhoods and villages, and the Red Cross distributed milk powder, medicine, food and blankets on Sunday to some 400 displaced families in the Abel village south of the city, Shaaban said. That aid continued Monday.

Russia and China have stood by by Al-Assad, rejecting all forms of interference in Syria’s affairs and protecting Syria from condemnation by the UN Security Council. Both countries fear such a move could pave the way for military intervention against Al-Assad, as it did against Muammar Gadhafi in Libya.

Syria on Monday lauded the return of Vladimir Putin to the Russian presidency, saying his “strong man” status would reshape international relations.

Also Monday, China said it would send its former ambassador to Syria to try to convince the Assad regime of the need for a cease-fire, and to emphasize its opposition to outside intervention.

Li Huaqing will visit Damascus on Tuesday and Wednesday, the Foreign Ministry said.

China’s own proposal for ending the Syria conflict calls for an immediate an immediate cease-fire and talks by all parties. -AP

UN atomic agency seeks new ideas in Iran stalemate VIENNA: The UN atomic agency’s 35-nation board of governors sought fresh thinking Monday in its impasse with Iran after two fruitless visits probing Tehran’s suspected nuclear weapons drive.

In a regular meeting due to last several days at the International Atomic Energy Agency’s Vienna headquarters, Western powers hoped to convince Russia and China to back a strong resolution condemning Tehran, diplomats said.

But with the board having already signed off at its last gathering in November a resolution of “deep and increasing concern”, it was unclear whether another such motion would be possible - or indeed useful - this time.

“We are still talking with our partners,” one Western diplomat told AFP. Instead, discussions were expected to focus on other ways to make progress and prospects for the resumption of talks on another track, namely between Iran and the P5+1 powers - the permanent members of the UN Security Council Britain, China, France, Russia and the United States, plus Germany.

In a Feb. 14 letter to EU foreign policy chief Catherine Ashton, Iran’s chief nuclear negotiator Saeed Jalili said Tehran was ready to resume talks - the last effort collapsed in January 2011 -- at the “earliest” opportunity.

Close attention meanwhile was also being paid to talks later Monday in Washington between US President Barack

Obama and Israeli Prime Minister Benjamin Netanyahu.

A November report by the IAEA substantially raising suspicions of a covert Iranian nuclear weapons program has stoked speculation that Israel may try to knock out Iran’s sprawling network of nuclear sites with air strikes.

Obama on Sunday said there had been “too much loose talk of war”, saying increased sanctions since November were biting but again warning Iran he would “not hesitate to use force when it is necessary”.

In a report sent to IAEA member states on Feb. 24, watchdog chief Yukiya Amano said that after two trips to Iran by chief inspector Herman Nackaerts, on Jan. 29-31 and February 20-21, “major differences” with Tehran remained.

The Islamic Republic denied access to the Parchin military site near Tehran where the November dossier said suspicious high-explosives tests consistent with developing nuclear warheads were carried out, Amano said.

A senior official familiar with the investigation said that the IAEA team was only able to speak to “middle men” and that the Iranians wanted to “constrain the process, and put us in a harness”.

Iranian officials repeated their assertion during the trips that the November report was based on forgeries, the agency said. Tehran says its nuclear program is peaceful. -AFP

Palestinian teen suffers head wound in army clash

Iraqi police inspect the scene after policemen were slain in the western city of Haditha on March 5, 2012.

(AFP)

BAGHDAD: A gang of gunmen disguised in military-style uniforms and carrying forged arrest warrants killed 25 police Monday, then hoisted the battle flag of Al-Qaeda in a carefully planned early morning shooting spree in western Iraq, officials said.

The killings began with an attack on a suburban checkpoint and the kidnapping of two police commanders from their homes in the western Iraqi city of Haditha around 2 a.m. It ended with the gang disappearing into the desert in this latest bloody strike against Iraq’s security forces.

At least one of the attackers was killed in a raid that lasted about a half-hour.

“We consider this attack as a serious security breach and we believe that Al-Qaeda or groups linked to it are behind this,” said Mohammed Fathi, spokesman for the governor of Iraq’s western Anbar province where Haditha is located.

Iraqi officials described a systematic plot to kill police in Haditha, 220 kilometers (140 miles) northwest of Baghdad, with attackers disguising themselves in military uniforms and driving cars painted to look like Iraqi interior ministry vehicles.

Fathi said the gang claimed they were military officials with arrest warrants for city police. They were

stopped at a checkpoint outside Haditha, where they took away the guards’ mobile phones before shooting nine of them, he said.

The gang’s convoy, described by one Haditha police lieutenant as stretching 13 cars long, then stopped at the homes of two Haditha police commanders, including the colonel who served as the city’s SWAT team leader. Brandishing the fake arrest warrants, the gunmen forced the commanders into the convoy, then shot both less than 400 meters (a quarter-mile) away, Fathi said.

Fathi said the gang had false arrest warrants for 15 police officials in Haditha. As their convoy moved through the city, they were stopped at another checkpoint near the city’s main market. A fierce gun battle broke out, with the gang raising the black flag of AlQaeda in a show of defiance. Six policemen were killed in that skirmish, and another six were killed in shootings as security forces chased the gang through the city, Fathi said. Most of the gang escaped, fleeing north into a desert area in bordering Ninevah province known as Jazeera, according to a police lieutenant in Haditha. On the way out, Fathi said, another two policemen were killed at a checkpoint on Haditha’s outskirts. -AP

JERUSALEM: A young Palestinian man had his skull smashed after an Israeli soldier shot a tear gas canister at his head during a demonstration where he was hurling rocks on Monday, said an eyewitness and a medical official.

The 19-year-old man, Mohammed Abu-Awad, was one of some two dozen young men who were throwing rocks at soldiers stationed at an Israeli checkpoint in the West Bank university town of Bir Zeit, said his cousin Mahmoud.

They had just ended an annual commemoration of the deaths of their relatives in a vehicle accident with Israeli troops, the cousin said.

He said soldiers fired two tear gas canisters at them. One hit Abu-Awad in the head.

Abu-Awad’s tear gas injury comes in a string of similar incidents over the years, raising concerns about the way Israeli forces use the exploding canisters.

“His head was all bloodied,” said his cousin. Hospital director Dr. Ahmed Betawi said Abu-Awad was in critical condition.

Israel’s military says it uses the weapons to disperse rioters. A spokesman could not confirm what was used in this incident and said they were looking into the matter.

A senior Israeli military official who spoke last week to The Associated Press said the army advises soldiers to not shoot directly at demonstrators. But he said Palestinians in clashes needed to understand they face the risk of injury.

Rights activists, Palestinians, their supporters and reporters who cover demonstrations say Israeli forces often fire the exploding canisters of acrid smoke directly at demonstrators as weapons - instead of to disperse protesters.

Other Palestinians and their supporters have been killed by Israeli forces firing tear gas canisters.

Most recently, 28-year-old, Mustafa Tamimi from the West Bank village of Nabi Saleh was killed in December after he was shot in the face with a tear gas canister while hurling rocks at an armored vehicle jeep.

The senior Israeli military official said the soldier’s vision was limited by a gas mask and that Tamimi had run into the line of fire. The official spoke on condition of anonymity because he was not authorized to speak on the subject.

Rights activists questioned why the soldier, who was leaving the demonstration when he opened the vehicle door and launched the tear gas canister, fired his weapon while protected by an armored vehicle. -AP

ALWATAN DAILY

WORLD

tuesdAY, march 6, 2012

Kremlin woos Russian opposition after Putin win

Australian state toughens law for Muslim veils

Russian President Dmitry Medvedev, (left), and Prime Minister Vladimir Putin, who claimed victory in Russia’s presidential election, hug each other after addressing a rally of supporters at Manezh square outside Kremlin, in Moscow, Russia, March 4. (AP)

MOSCOW: The Kremlin held out an olive branch to Russia’s opposition Monday before protesters take to the streets to challenge Vladimir Putin’s victory in a presidential election they said was a “declaration of war.”

Putin celebrated his victory Sunday by telling tens of thousands of flag-waving supporters near the Kremlin that his triumph had saved Russia from enemies trying to usurp power.

The prime minister, who is returning to the post he held for eight years until ushering Dmitry Medvedev into the presidency in 2008, had tears in his eyes as he took aim in his speech at protesters opposing his 12-year-domination of Russia.

His opponents complained of widespread fraud in the ballot, in which the former KGB spy won more than 63 percent of the vote, and said they would show their disgust by demonstrating in central Moscow Monday evening.

“He is forcing things to breaking point. He is declaring war on us,” said journalist Sergei Parkhomenko, one of the protest organizers.

With Putin and the opposition on collision course, the Kremlin issued a statement that could be intended to take the sting out of the protests which began over alleged fraud in a parliamentary poll on December 4 and increasingly target Putin.

Medvedev, who will stay in office until early May and is expected to swap jobs with Putin, told the prosecutor general to study the legality of 32 criminal cases including the jailing of former oil tycoon Mikhail Khodorkovsky.

Khodorkovsky, who headed what was Russia’s biggest oil company, Yukos, and was once the country’s richest man, was arrested in 2003 and jailed on

tax evasion and fraud charges after showing political ambitions and falling out with Putin.

The Kremlin said Medvedev had also told the justice minister to explain why Russia had refused to register a liberal opposition group, PARNAS, which has been barred from elections. The order followed a meeting last month at which opposition leaders handed Medvedev a list of people they regard as political prisoners and called for political reforms.

Medvedev’s initiatives “have only one goal: To at least somehow lower the scale of dismay and protest that continues to surge in society,” Communist Party leader Gennady Zyuganov was quoted as saying by Interfax news agency.

The move could be a stalling tactic intended to appease the organizers of the biggest protests of Putin’s rule, or it could be a parting gesture by a man intent of making his mark as the more liberal of the ruling “tandem” with Putin.

Almost complete election results Monday showed Putin, 59, had won 63.68 percent of votes.

Zyuganov was second on just over 17 percent and liberal billionaire Mikhail Prokhorov had almost 8 percent. Nationalist Vladimir Zhirinovsky secured just over 6 percent and former parliamentary speaker Sergei Mironov had less than 4 percent.

“There were practically no serious violations,” Central Election Commission chief Vladimir Churov told reporters, dismissing the allegations of irregularities across Russia by the opposition and volunteer vote monitors.

Golos, an independent monitoring group, said it had registered at least 3,100 reports of violations nationwide. An international observer mission was due to announce its findings later Monday. -Reuters

CANBERRA: Muslim women in Australia’s most populous state will have to remove veils to have their signatures officially witnessed under the latest laws giving New South Wales officials authority to look under religious face coverings.

New South Wales state Attorney General Greg Smith said in a statement on Monday that beginning April 30, officials such as justices of the peace and lawyers who witness statutory declarations or affidavits without making identity checks will be fined 220 Australian dollars (236 US dollars).

“If a person is wearing a face covering, an authorized witness should politely and respectfully ask them to show their face,” Smith said.

The government on Monday began an information campaign to ensure the public and officials were aware of the new penalties before they came into force.

The laws are a response to a court case last year in which a Sydney woman was convicted of falsely claiming that a traffic policeman had attempted to remove her niqab - a veil that reveals only the eyes.

A judge overturned the conviction because the official who witnessed the false claim did not look under the veil of the person who made it, so the judge was not certain that the defendant was responsible.

The latest laws were passed Dec. 23

by the state parliament. They follow New South Wales laws passed last year that introduced a AU$5,500 ($5,900) fine and a 12-month prison sentence for anyone who refuses to remove face coverings when requested to do so by police.

Ikebal Patel, president of the Australian Federation of Islamic Councils an advocate for Australian Muslims, said while some Muslims regarded the laws as a knee-jerk reaction to the court case, the majority did not object.

“I don’t object as long as the laws are enforced with respect and sensitivity,” Patel said.

Patel said he was also a justice of the peace and would never witness a document without seeking proof of the author’s identity.

He said Muslim women can find female justices of the peace working at most post offices. Women who object to showing policemen their faces have an option of being taken to a police station where their identities can be confirmed by a female official.

New South Wales laws demanding the removal of religious face coverings are an Australian first, although other states including Victoria and Western Australia are considering similar legislation. Muslims are a rapidly growing minority of 400,000 within Australia’s Christian-majority population of 23 million. -Reuters

tional council.

Under the constitution, the second round must take place on the third Sunday following the last date for publication of the disputed result, in this case March 25.

But whatever the council decision, it was not expected to significantly change the results of the first round which took place on February 26.

Two dead, 22 hurt in Malaysia tour bus accident

KUALA LUMPUR: Two Indian tourists died and 22 other people were hurt on Monday when their bus overturned on a winding mountain road in western Malaysia, police said.

The coach loaded with Indian holiday-makers lost control, struck a highway divider and overturned en route from the Genting Highlands resort to the capital Kuala Lumpur, district police official Mohamad Yusri Hasan Basri said. One woman and a man died while 22 other people including the Malaysian coach driver were admitted to hospital, some with serious injuries, he said.

A two-year-old child was among the injured.

Police were investigating the cause of the accident, but the steep and curving road is prone to accidents. The Indian tourists had arrived at the highland resort on Saturday and were planning to travel onward to neighboring Singapore, Mohamad Yusri said.

Deadly coach accidents are not uncommon in Malaysia, particularly in mountainous areas. In 2010, a bus traveling from another Malaysian highland resort crashed, killing 27 people, mostly Thai tourists, in the worst coach accident in the nation’s history.

Meanwhile, an Australian truck driver faces a possible death sentence after he was arrested in Malaysia on suspicion of drug trafficking, Malaysia’s top narcotics official said Monday. The 32-year-old from Perth in Western Australia was arrested March 1 in the capital Kuala Lumpur in possession of 225 grams (7.9 ounces) of methamphetamine, national police narcotics director Noor Rashid Ibrahim told AFP. Malaysian officials have identified the man as Dominic Jude Christopher Bird. Australian diplomats said they were seeking access to the suspect in order to offer consular assistance.

Noor Rashid said the Australian was arrested along with another accomplice and that three more people were subsequently detained.

He declined to provide the nationalities of the other detainees.

“We believe that the Australian national is involved in some sort of syndicate but investigations are ongoing so we cannot be more specific at the moment,” he added. Noor Rashid said that while the Australian suspect had not yet been charged, “he is currently being investigated under the Dangerous Drugs Act and upon conviction could face the death penalty.” Drug trafficking carries a mandatory death penalty by hanging under Malaysia’s tough anti-drug laws.

Anyone found in Malaysia to be in possession of at least 50 grams of methamphetamines is considered a trafficker. -Agencies

Two detained for questioning in Polish train crash WARSAW: Two rail traffic controllers have been detained for questioning over a head-on train collision in southern Poland that killed 16 people, a prosecutor said Monday. The two were in charge of traffic on the route at the time the crash occurred Saturday night near the town of Szczekociny, just north of Krakow, Tomasz Ozimek said. The collision left the front cars of the trains a mangled heap, toppled others, and injured more than 50 people, three of whom remain in serious condition. The two controllers have not been charged with any crimes and Ozimek refused to reveal further details on the detentions. -AP

Moderate quake shakes north India, no damage reported NEW DELHI: A moderate earthquake felt across north India rocked buildings and sent office workers running into the streets in the capital New Delhi at lunchtime Monday, but there were no immediate reports of damage. The US Geological Survey said the epicenter was about 30 miles west of New Delhi. The 5.2 magnitude tremor had a depth of 11.9 miles, the USGS said. Such quakes rarely cause major damage. Buildings swayed for about 30 seconds in New Delhi’s central business district and many workers abandoned lunch and made for the stairs. -Reuters

Pakistan test fires short-range ballistic missile

Two self-immolations in Tibet

New South Wales laws demanding the removal of religious face coverings are an Australian first, although other states including Victoria and Western Australia are considering similar legislation. (Reuters)

The campaign for the run-off vote will start as soon as final results have been published, or Thursday at the latest.

Wade, who has been in power for 12 years and is bidding for a third term in office in a move that has triggered weeks of sometimes deadly protests, won 34.8 percent of the vote in the first round, according to provisional results.

He thereby well short of the majority

needed to avoid a run-off.

His former premier-turned-challenger Macky Sall, 50, won 26.5 percent.

Turnout stood at 51.5 percent.

The poll-linked violence has claimed between six and 15 lives, according to various sources.

The Senegalese Red Cross said it had treated 153 people for injuries in less than a month. -AFP

Japan’s radiation cleanup is trial and error FUKUSHIMA: Workers in rubber boots chip at the frozen ground, scraping until they’ve removed the top 2 inches (5 centimeters) of radioactive soil from the yard of a single home. Total amount of waste gathered: roughly 60 tons.

One down, tens of thousands to go.

And since wind and rain spread radiation easily, even this yard may need to be dug up again.

The work is part of a monumental task: a costly and uncertain effort by Japan to try to make radiation-contaminated communities inhabitable again.

Some contractors are experimenting with chemicals; others stick with shovels and high-pressure water. One government expert says it’s mostly trial and error.

The radiation leak has slowed considerably at the Fukushima Dai-ichi nuclear plant, nearly one year after the March 11 earthquake and tsunami sent three of its reactors into meltdown. Work continues toward a permanent shutdown, but the Japanese government declared the plant stable in December, setting the stage for the next phase: decontaminating the area so that at least some of the 100,000 evacuated residents can return.

Experts leading the governmentfunded project cannot guarantee success.

They say there’s no prior model for what they’re trying to do. Even if they succeed, they’re creating another problem they don’t yet know how to solve: where to dump all the radioactive soil and debris they haul away.

The government has budgeted 14 billion US dollars (1.15 trillion yen) through March 2014 for the cleanup, which could take decades.

The uncertainty plays out at many levels. One of the workers at the house with the frozen ground said they weren’t

NEWS IN BRIEF

ISLAMABAD: Pakistan said it had successfully test fired a short-range ballistic missile capable of carrying atomic warheads. The Hatf II (Abdali) has a range of 180 kilometers (113 miles) and carries nuclear as well as conventional warheads with “high accuracy”, the military said in a statement. “It provides an operational level capability to Pakistan’s strategic forces, additional to the strategic and tactical level capability which Pakistan already possesses,” the statement said. -AFP

Senegal presidential run-off set for March 25 DAKAR: Senegal’s presidential election second round run-off between the incumbent Abdoulaye Wade and ex-prime minister Macky Sall will be held March 25, the electoral commission announced Monday.

Wade, who is 85, on Saturday called for a recount of the first round vote in a southern constituency, which has to be examined within five days by the constitu-

5

sure how to measure 2 inches (5 centimeters) from the uneven ground or what to do with the snow on top of it.

“We often encounter situations that are not in the manual and wonder if we are doing the right thing,” Takahiro Watanabe said as they wrapped up on a chilly February day. “Just to be safe, we packed the snow into the bags.”

The 60 tons of radioactive waste sat in 60 waterproof bags, waiting to be carted away from the house in Fukushima city’s Onami district. Some 40 miles (60 kilometers) from the nuclear plant, the neighborhood is a “hot spot” - an area with high radiation readings that is outside the 20-kilometer (12-mile) ring that has remained closed since the early days of the crisis. Residents of hot spots were encouraged, but not ordered, to leave, and some, including the residents of the house that was decontaminated, have not moved out.

In the fading late afternoon light, Watanabe took a dosimeter in his bare hand and placed it on the ground, now covered with a fresh layer of replacement soil. It read 0.24 microsieverts per hour - close to the target level of 0.2 and about one-fifth of what it had been before. “Looks like it has come down a bit,” he said.

But for how long? With so much radiation in the area, workers probably will have to return to redo this neighborhood.

And areas where children gather, such as parks, schools and playgrounds, will be held to an even stricter standard than homes and offices.

“You have to keep cleaning up,” said Toshiaki Kusano, Fukushima city’s top crisis management official. The city has a five-year decontamination plan, which he said could be extended. -Reuters

DHARAMSALA: A woman and a schoolgirl died after they set themselves afire in Tibet in the past two days to protest China’s policies and to demand freedom and the return of the Dalai Lama to his homeland, a statement said here Monday. Rinchen, a mother of four, set herself on fire in front of a police station at the entrance of Kirti Monastery in Ngaba in northeastern Tibet Sunday. She raised slogans demanding freedom and the return of the Tibetan spiritual leader Dalai Lama to Tibet. She died on the spot. -AFP

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ALWATAN DAILY

OPINION

TUESDAY, march 6, 2012

The need for reforms Dr. Shamlan Yousef Al-Esa

T

he Development Forum held its thirty third annual meeting in the city of Doha- the Qatari capitalwith the title “General Policy and Needed Reforms in Gulf and Arabian Countries”. The forum was established in 1979 and held its first meeting in Abu Dhabithe United Arab Emirates- on December 26, 1979. The first symposium of the forum was titled “Development Symposium in the Oil Countries of Arabian Peninsula”.

Following several meetings the name of the forum was changed into Development Forum.

The target of the forum was setting aside a scientific and intellectual atmosphere to enhance interactivity and communication among the citizens of the Gulf region especially in the field of development. It was also aiming at studying the development process and obstacles that interrupt development. The forum included several members from the Gulf countries particularly those whose

The researches focused on administrating human resources in the Gulf countries and the requirements needed for reforms. interests are in affairs relating to development. The members are academic personalities, businessmen, former ministers and many other government officials.

The symposium of the current year is a distinguished one due to the Arab Spring that swept the Arab world and other events that have occurred in the region. Meanwhile, six distinguished researches were submitted during the activities of the symposium and they were discussed last Thursday and Friday. The researches focused on admin-

Using phones while driving causes road accidents

istrating human resources in the Gulf countries and the requirements needed for reforms.

All participants affirmed that concern for development and reforms should be prioritized and they also emphasized that there is a gap between human capital and institutional reforms, adding that the Gulf countries are full of qualified figures but about 50 percent of the manpower is interrupted. They also discussed the causes behind interrupting manpower, such as education; which

still does not meet the aspirations of the people of the region.

They disclosed that the governments pay huge expenses on education but most expenses are spent on salaries and the establishment of new buildings. The manpower is also interrupted by the unqualified officials who hold certain sensitive positions.

The other phenomenon inside the Gulf States is the dependence on foreign people or expatriates. Another reason behind the failure of education and the process of development is the lagging political administration which could not administer human development well enough.

As a result of these reasons, education is exploited by a lot of citizens just to get the certificate or degree in order to attain better salaries although all citizens should invest in education to develop their common performance.

The attendants also focused on the Bahraini issue and they affirmed that dialogue is the best way of reaching stability and settlement.

BU QUTADA & BU NABIL

Dr. Khalid Sultan Al-Sultan

A

fter having dinner in the spring camp of Fahad Al-Shatti at midnight, Bu Sultan returned home alone by his car. It was very dark and he was surprised by a torch on his way. Something black lying on the way was holding the torch wherein Bu Sultan couldn’t see it well. He turned on all lights of the car then and a strange object started crawling towards him. I began talking loudly while that black object was a bit far from me but it did not answer.

Bu Sultan wondered if that thing is a human being or a demon! Bu Sultan says “I returned back until I reached the highway.

Shortly, my colleagues who were having dinner with me called me as they saw my car returning back and asked what was the matter. I told them the story then they said that they also saw the light of the torch and they headed towards the torch. They found a young man lying on the earth and his legs were wrapped by doctors due to some fractures. The young man looked like a person who had just left a hospital.

They asked the young man why his legs are wrapped and what was he doing in that deserted area. The young man said take me in that direction to see what was happening. They drove in that direction and found a car toppled upside down. They asked him again what happened then the young man said that he was at a hospital to treat some fractures two days ago and when he left the hospital he headed to the spring camp of his friends and then he wanted to return back home. On the way he was reading SMS messages on his mobile phone while he was driving and watching some video clips on his mobile phone as well and he was surprised by two holes on his way and lost control over the car that toppled upside down. The torch was inside his car and he found it besides him after the accident. The young man said that he started crawling whilst hoping to find somebody to save him. Anyway, our colleagues helped the young man by taking him home.

Every day morning I have Al-Nahar Newspaper and other newspapers on my desk in which page four of Al-Nahar newspaper attracted my attention last Sunday. There was an advertisement on the very page and a phrase which says “we missed 493 persons in 2011 because of road accidents”. Then there was a picture of a man holding a mobile phone in addition to another good phrase which was written beside the picture saying “watch out, don`t call in order to arrive home”. This is a good ad which aims at increasing awareness in people and signaling the danger of using mobile phones while driving. The ad also urges all drivers to avoid using their phones while driving.

However, we need more efforts in order to raise awareness of the people in vehicles in addition to drafting new laws or activating previous laws to prevent people from using phones while driving, as such steps contribute in saving the lives of people. Drivers who use phones while driving are like drunk people wherein their cars usually reel from one lane into another.

Mom. All employees in Ministries Complex staged a strike. No one reported to work

Even the Bangladeshi workers staged a strike.

And the employees in Courts Complex staged a s trike too

Really?! How can people complete their paperwork?

My son, they are not staging a strike, they want to hold the country hostage

What will people do with their cases?

If you don’t give us a special allowance, we will hold the country to a standstill We want a special allowance

mthallab@alwatan.com.kw

Mohmmed Thallab

Arabs on the table of Condoleezza Rice Part 1 of 2

Abdullah Besharah

I

n seven hundred and fifty pages, the former US Secretary of State Condoleezza Rice summed up her life experience in the book titled “No Higher Honor” which I read in the last period. I see that the readers need to read the book to discover the perspective of US leadership on the Arab actors in the field of politics and have influence in the arena of strategies and hold the sovereign decisions of the Arab governments.

The style adopted by the author in writing the book attracted my attention. The author has moved away deep academic and political analyses, contrary to Kissinger and others. She avoided the details and committed to the novel style. She told the events in an easy way using simple language. She did not focus on the background of events experienced in the areas of the world, from Europe to the Middle East, through all parts of the globe.

The author had access to the world of politics armed with privileges that enabled her to penetrate unprecedented sites, and helped in building intimate relationships with world leaders, including Arab leaders. She was from Birmingham, the capital of the south, and a hotbed of racial segregation and oppression against blacks who originate from Africa, and the toughest area which witnessed misery and poverty in the State of Alabama.

Her father was a devout priest whose early understand-

ing of the benefits of science and knowledge, helped her to complete studies in the finest universities. She earned a musical education, and became a professional piano performer.

Being an educated woman, who came from the world of poverty and degradation, she was motivated to go ahead with her career. She was close to President Bush, as she worked with him in the National Security Council.

She was characterized by seriousness and mastery in their work. She won the confidence of President Bush and exceeded the former Vice President Cheney, who did not always agree with her and regularly opposed her proposals, as he believed in and was committed to hard line diplomacy.

The then Secretary of Defense Rumsfeld didn’t care about coordination with her and monopolized the details of the campaign against Iraq.

Rice’s relation with General Colin Powell was good but he did not enjoy full confidence of President Bush so he lived in the shadows.

In her book, Rice speaks about President Mubarak with respect and appreciation for his commitment to the agreements with both Israel and the United States, but she said that he was stubborn and did not respond to her observations about political openness in Egypt, and he insisted that the priorities of the Egyptian people were stability and improving living conditions. And he used to repeat to her that she did not understand the Egyptians. She did not enact

diplomatic pressure on him nor referred to him the international changes, but offered him sincere advice.

Here, we note that her diplomatic tone was dominated and characterized by decency and courtesy, like Colin Powell, and away from the style of Hillary Clinton.

She often spoke about the Custodian of the Two Holy Mosques, King Abdullah Bin Abdulaziz, with admiration for his candor and his firmness in adhering to his principles. She spoke about the visit of King Abdullah to President Bush’s ranch in Texas on April 25, 2002. She said that during the meeting involving the two delegations, King Abdullah asked to have some privacy with his delegation without the US side, in which she found the request to have been strange.

Suddenly, the Egyptian Interpreter Gamal Helal, who was sitting with the Saudi delegation appeared to tell President Bush that King Abdullah and members of the Saudi delegation would leave the farm back home, if the President did not stop the Israeli aggression on Gaza and the West Bank.

The US side was shocked. Secretary of State Colin Powell went to King Abdullah to persuade him to stay. But Powell did not succeed, so Bush intervened and took King Abdullah on a tour, where a big turkey suddenly appeared and King Abdullah saw it was a symbol of correlation between the two countries.

On April 27, Bush sent a warning to Israel to halt the aggression because he intends to issue a statement which would be politically devastating to the Prime Minister of

Israel if he did not comply. Accordingly, fighting stopped after more than a month. King Abdullah became angry when Bush described Mr. Sharon as a man of peace. She spoke about Bush’s visit to Riyadh and explained the concern of King Abdullah of Iran’s policy, and its efforts to expand its influence and its intentions in conventional arms, etc., and said that President Bush shared the same concern with King, but he did not want to commit to something outside the well known American attitude.

The book includes many paragraphs about US efforts to establish the Palestinian state for the first time in US policy, and explained that President Bush did not respect Arafat and saw him as a liar who had no credibility, and insisted on replacing him with an acceptable leader. She said that Bush blames Arafat for the failure of negotiations at Camp David with President Clinton, and that Bush agreed with Israel to replace him, and to form the Palestinian government without Hamas. The message from Washington to Abbas, who took over after Arafat, was clear.

That the participation of Hamas means the destruction and the end of the peace negotiations. Rice devoted pages for the documentaries on the negotiations between Abbas and Israeli Prime Minister, Mr. Olmert, and said that the climate had improved, but did not achieve the required agreement, as it was narrowed down between Livni, Israel’s Foreign Minister, and Mr. Abul Ela, the representative of Abu Mazen.

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views

tuesDAY, march 6, 2012

Alexander Hamilton’s Eurozone Tour

The condition for success in the American case was that the US raised its own revenue, with federally administered customs houses initially providing the bulk of its receipts.

Harold James Project Syndicate

E

urope’s debt crisis has piqued Europeans’ interest in American precedents for federal finance. For many, Alexander Hamilton has become a contemporary hero. Perhaps one day his face should appear on the 10 Euro banknote.

Specifically, for European states groaning under unbearable debt burdens, Hamilton’s negotiation in 1790 of the new federal government’s assumption of the states’ large debts looks like a tempting model. Indeed, after Thomas Sargent won the Nobel Prize in Economics last year, he cited it as a precedent in his acceptance speech.

Hamilton argued - against James Madison and Thomas Jefferson - that the debts accumulated by the states during the War of Independence should be assumed by the federation. There were two sides to his case, one practical, the other philosophical.

Initially, the most appealing argument for his plan was that it would provide greater security to creditors, and thus reduce interest rates, from the 6% at which the states financed their debt to four percent. Hamilton emphasized the importance of a commitment to sound finance as a prerequisite to public economy. “When the credit of a country is in any degree questionable,” he argued, “it never fails to give an extravagant premium upon all the loans it has occasion to make.”

While that logic certainly appeals to Europeans today, Hamilton insisted on a stronger reason for pursuing sound finance than merely the pursuit of expediency. There is, he maintained, “an intimate connection between public virtue

and public happiness.” That virtue consisted in honoring commitments, and it would build solidarity in the new political community of the United States. Indeed, public virtue made federal finance what he called “the powerful cement of our union.”

The condition for success in the American case was that the US raised its own revenue, with federally administered customs houses initially providing the bulk of its receipts.

The logic of a need for specific revenue applies also in modern Europe, where a reformed fiscal system might include common administration of value-added tax (with the additional benefit of eliminating a considerable amount of crossborder fraud).

In the American case, however, unity carried a price: a ceiling was imposed on Virginia’s exposure to the common debt. Only this inducement to the most powerful state in the union persuaded Madison to drop his opposition to the proposal. That compromise (which also led to the US capital’s relocation to the District of Columbia, on the border of Virginia and Maryland) may serve as a precedent for limiting Germany’s liabilities if Eurobonds, or some other debtmutualization scheme, are introduced.

The US experiment in federalized finance was not immediately successful. Two important components of Ham-

LTRO was a necessary evil Hugo Dixon Reuters

B

ailout may not be a four-letter word.

But many of the rescue operations mounted to save banks and governments in the past few years have been four-letter acronyms. Think of the TARP and TALF program that were used to bail out the U.S. banking system after Lehman Brothers went bust. Or the European Central Bank’s LTRO, the longer-term refinancing operation. This has involved lending European banks one trillion Euros for three years at an extraordinarily low interest rate of one percent.

The markets and the banks have jumped for joy in response to all this liquidity being sprayed around. So have Italy and Spain, whose borrowing costs have dropped because their banks have been able to take cheap cash from the ECB and recycle it into their governments’ bonds - making a profit on the round trip. But as has been the case with other four-letter bailouts, the LTRO has come in for criticism - most of it a variation on the theme that the way to treat debt junkies isn’t to give them another heroin injection.

One problem is that European governments could now feel less pressure to reform their labor laws and do the other painful things that are needed to get their economies fit. Another is that banks may delay actions that are required to let them stand on their own two feet: such as rebuilding their capital buffers and raising their own longer-term funds on the markets.

As if this were not bad enough, undeserving banks will be able to make bumper profits on the back of the ECB’s cheap money and, potentially, route them into fat compensation packages - although two British banks, Barclays and HSBC, have said they won’t allow bonuses to be inflated in this way. Meanwhile, the ECB could incur losses if the commercial banks that have borrowed all this money can’t pay it back and the collateral they have pledged turns out to be insufficiently valuable. Oh, and don’t forget that this is just a three-year operation. There could be another crisis when the banks need to find one trillion Euros to repay the ECB in 2015.

The charge sheet is a long one. But the LTRO was a necessary evil. Just think back to early December when panic was stalking the euro zone. Without some form of bailout, there would have been a severe credit crunch that would have dragged the economy into a deep recession rather than the mild one it now seems likely to suffer. Large countries such as Italy and Spain could also have easily been shut out of the markets, potentially leading to a break-up of the single currency.

The ECB faced a too-big-to-fail problem. If it didn’t bail out the system, it would be faced with catastrophe; if it did, it would reward foolish behaviour.

One can argue with the details. Did the money, for example, really need to be so cheap? But the central bank made a rational choice. The priority now is to limit the bad side-effects.

Mario Draghi, the ECB president, has made a start by telling European Union leaders at their summit last week that the three-year cash injection would not be repeated, according to Reuters. He said it had merely bought the euro zone time and it was essential that structural reforms were pushed through.

ilton’s financial architecture were not realized, or were realized imperfectly. He proposed a model of joint-stock banking on a national scale, which ran into immediate opposition (curiously, his proposal was much more influential in Canada). Second, opponents eventually blocked his proposal for a national central bank. The charter of the First Bank of the United States was allowed to lapse in 1811; a generation later, in 1836, President Andrew Jackson successfully opposed the charter of the Second Bank of the United States.

Nor did the Hamiltonian scheme of federal finance guarantee a peaceful commonwealth. In fact, the fiscal union proved to be explosive rather than adhesive. As international capital markets developed in the early nineteenth century, state governments borrowed on a large scale, quickly turning them from creditors into debtors. A wave of state defaults followed in the late 1830’s.

A generation later, in the 1860’s, the Civil War between northern and southern states resulted in large part from a dispute about the character of financial burdens at least from the South’s perspective. Abraham Lincoln’s original proposal to end the immoral practice of slavery by compensating slave owners for manumission was unacceptably expensive, so the Union, according to the slave-

7

holding Confederacy, was determined to expropriate the South.

The federal assumption of states’ debts by itself could not guarantee political order. The Civil War revealed the centrality of a common foundation of morality to Hamilton’s approach to debt and public finance. As a result, his approach foundered on the differences between the different states’ conception of morality.

Europeans today have latched onto the practical side of Hamilton’s argument - that is, the idea that debt mutualization might be a means to cheaper credit; but they have worked out neither the political institutions, nor the shared public virtue, that Hamilton deemed crucial. The extended and politicized debate about debt restructuring has made a Hamiltonian solution more difficult, because the credit of the countries that would be party to it has become questionable.

An obvious starting point for a Hamiltonian Europe would be to set some standard limit for federalized national debt - perhaps the tarnished threshold of 60% of GDP that was mandated (without adequate enforcement) by the Maastricht convergence criteria, or perhaps a lower limit.

Debt exceeding that amount would be left to the responsibility of the member states.

Collective burden-sharing is in the long run the only non-catastrophic way out of Europe’s current crisis, but that requires a substantially greater degree of political accountability and control on a European level. The lesson to be learned from Hamilton and the US is that the necessary institutions will not function without a greater degree of moral consensus as well. * Harold James is Professor of History and International Affairs at Princeton University and Professor of History at the European University Institute, Florence. He is the author of The Creation and Destruction of Value: The Globalization Cycle.

Greece’s soft budgets in hard times

Without some form of bailout, there would have been a severe credit crunch that would have dragged the economy into a deep recession rather than the mild one it now seems likely to suffer.

Hopefully, such lectures will be sufficient to do the job. But countries rarely reform unless their backs are to the wall.

Take Italy. Mario Monti has made a remarkable start pushing through pension changes and liberalizing services since taking over from Silvio Berlusconi. But there is much left to do: freeing up the labor market, privatizing assets, revamping public spending and fighting tax evasion.

How easy will he find it to push all that through now that Italy’s 10-year borrowing costs are below five percent?

Similar points can be made about Spain, where Mariano Rajoy’s reform program has only just begun. Meanwhile, France, which has so far largely escaped the crisis, will not be under pressure to address its deep-seated labor market and pension problems. Francois Hollande, the socialist who will probably be the country’s next president, certainly has no ideological desire to do so.

But won’t the new European fiscal treaty deal with the issue? Sadly not. The demand for fiscal austerity was, indeed, the quid pro quo for the ECB’s bailout.

But it was the wrong sort of conditionality.

Balancing budgets is not the same as structural reform. The only thing pushing Europe’s governments down the latter route is exhortation and the warning that there won’t be any more bailouts.

With the banks, more tools are available to mitigate the damage from the LTRO. After all, governments, the ECB and regulators can tell lenders what to do. The most important changes - requiring them to build stronger capital bases and rely less on short-term funding - are already under way. The key thing will be to resist lobbying to delay and dilute these rules.

But there is also a case for revisiting the industry’s lax tax regime, especially if compensation remains high. Politicians have given most of their attention to taxing financial transactions, the so-called Tobin tax. But a better alternative could be to introduce what is known as a financial activities tax or FAT tax. Most countries do not apply VAT to banking. FAT, which would tax profits and compensation, would do a similar job. A three-letter tax could be part of the answer to a fourletter bailout. * Hugo Dixon is the founder and editor of Reuters Breakingviews. The views expressed are his own.

FILE- Head of the Institute of International Finance (IIF) Charles Dallara (left) and his colleague Jean Lemierre leave the Greek Prime Minister’s Office in Athens, Jan. 20, 2012. (Reuters) Daniel Gros Project Syndicate

T

he first de facto default of a country classified as “developed” has now taken place, with private international creditors “voluntarily” accepting a “haircut” of more than 50 percent on their claims on the Greek government. As a result, Greece now owes very little to private foreign creditors.

Greece also agreed to even more stringent budget targets and, in return, received financial support of more than 100 billion Euros (134 billion US dollars). The purpose of the entire package is to avoid a full-scale default and allow the country to complete its financial adjustments without overly unsettling financial markets. But this approach (a haircut on private-sector debt plus fiscal adjustment) is unlikely to work on its own.

The real problem in Greece is no longer the fiscal deficit, but a combination of deposit flight and continuing excessive consumption in the private sector, which for more than a decade now has been accustomed to spending much more than it earns. This over-consumption had been financed (at least until now) by the government, and, as a consequence, most of the foreign debt comprised public-sector liabilities. The official line is that Greek over-consumption will cease once the government reins in expenditure and increases taxes.

But this might not turn out to be the case.

The Greek population has become accustomed to consuming above its means; and it can continue to do so because it effectively faces what the Hungarian economist János Kornai, analyzing the failings of socialism, called “a soft budget constraint.” When Greek households have to pay higher taxes, they can simply withdraw the funds from their savings accounts and continue spending much as before. That is why, despite the strong fiscal adjustment, Greece’s currentaccount deficit remains close to 10 percent of GDP. Moreover, depositors have increasingly withdrawn their funds from Greek banks and transferred the money abroad. Estimates vary, but the best guess seems to be 50 billion Euros, which is equivalent to a whopping 25 percent of GDP. This cannot go on. Greece cannot regain access to financial markets until the currentaccount deficit is eliminated and deposit flight stops.

The cost of credit for the Greek private sector remains surprisingly low for an economy that has been totally cut off from foreign capital markets, and whose government cannot obtain private funds under any terms.

Unfortunately, the opportunity cost of keeping a bank deposit in Greece is rather low. Greek banks currently pay their depositors only about 2.8 percent interest. While this is better than zero at a German bank, the difference is too small to make a difference, given the real danger that Greece might have to leave the Euro zone, which would render local deposits worthless.

So interest rates must thus be substantially increased to induce Greek savers to keep their deposits and thus stop the hemorrhage from the Greek banking system. At the same time, the cost of financing excessive expenditure must also be increased; otherwise, the current-account deficit will persist.

The cost of credit for the Greek private sector remains surprisingly low for an economy that has been totally cut off from foreign capital markets, and whose government cannot obtain private funds under any terms. The average cost of new loans to Greek enterprises and households is still only six-to-seven percent. This might appear substantial, but it is only a few percentage points higher than in Germany.

This must change. Estonia, which had an even larger current-account deficit before the crisis, provides an interesting counterexample.

There, borrowing costs for new loans shot higher than 40 percent when the financial crisis erupted. This led to a very sharp adjustment in domestic consumption. But this brutal adjustment quickly turned the current-account balance into a surplus, and the country’s creditworthiness was never questioned.

But why are interest rates in Greece still so low? The answer is simple: Greek banks still have access to financing from the European Central

Bank at very low rates (one-to-three percent).

As long as this flow of cheap money continues, so will capital flight; no adjustment in consumption will take place so long as the country faces only a very soft budget constraint.

This is also the reason why the existing adjustment program would not be sufficient even if the Greek government were to implement everything as planned. If nothing is done to stop the capital flight and reduce private domestic expenditure, the Greek banking system will become ever more dependent on “monetary” financing. But the ECB has already provided about €120 billion (60 percent of Greek GDP) to Greece’s banks, and cannot tolerate any further increase in its exposure to a country that has just defaulted.

Massive increases in domestic interest rates might still be sufficient to induce savers to keep their deposits at home. If this is not done quickly, deposit flight is likely to escalate, and the government will in the end have to impose a freeze on deposits or capital controls. But any move of this kind would lead to a breakdown of the Greek banking system and, potentially, to massive contagion affecting Portugal, Spain, and Italy.

If Europe’s policymakers do not recognize that deposit flight and continuing excessive private expenditure constitute the real danger to the adjustment program in Greece, they might soon have to deal with another crisis - hard to imagine today - of even bigger proportions. * Daniel Gros is Director of the Center for European Policy Studies. The views expressed are his own.

classifieds@alwatandaily.com

tuesday, march 6, 2012

Tuition available in Hawalli

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

Call after 3 pm (66025668)

27-02/27-03

Boston whalev super sport 150 boat.Tel:65880918 Required licensee for a tax business.Tel:66689802

Call: 97292083

27-02/27-03

Garmin GPS Tel:99226042

for

sale.

Selling the numbers (90008944-5500503).

Tel:69644449 Selling the number (60601313) KD800. Tel:50250500 Used furniture’s for sale with air conditioner.

Tel:99739700 Kitchen Tel:24762688

appliances.

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

Contact: 67009278

Birthdays and weddings

SLR

Professional gardening services.

SLR

Carpenter.

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

For rates, please call

FOR SALE

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

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

Fitness Personal Trainer available

Call Greg at 69931734

30-01/30-02

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

Tel:97601745

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

Tel:60001848

SLR

Call: 97932925

14-02/14-03

Learn Arabic For foreigners to learn Arabic easily.

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

Contact: 66972388

Contact 69931734

For Sale

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

Arabic Teacher

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

Tel: 90958689-99925977 Super deluxe furniture apartment in Salmiya, 2 rooms, 2 baths, living room, kitchen and laundry room, KD500.Tel:25352200

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

Tel:65599091 Tel: 66644270

Fridge medium size (great condition) KD 50 Fridge small size KD 15 Cloth hanger KD 5 Stove KD 90 Washer & Dryer KD 120 Gym KD 20 Microwave KD 5

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

WDLR

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

Tel: 66970789 Seeking qualified female Nail Technicians of Filipino Nationality. If interested please contact 99030565 or 25319812.

Cars

Chevrolet Lumina V6 2008 model done 80000 km in good condition for KD 2800, single used. Tel: 99962456

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

Toyota mini buss KD2900.Tel:24747418

2005.

Ford Lincoln, grey exterior.

Tel: 99288558

2005,

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

30-01/30-02

Lexus IS400 1998, navy full option, KD 1900.Tel: 97803380 Hyundai 2000, green exterior, KD 500.Tel:99628345 BMW 2000, White exterior, beige interior, KD 1250 Tel: 97878183 25/12 - 25-02

Toyota Camry 2000, in great condition.Tel:99734995

03-01/03-02

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

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

Tel:94996159

Required chef for Lebanese restaurant. Tel: 6509292697686366

SLR

23-01/23-02

Cars

Nissan Altima Tel:94915050

SLR

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

06-03/06-04

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

Items for sale

SLR

Laptops rent,

24-01/24-02

Apartment in Jabriya, 3 bedrooms, 3 bathrooms, living and kictehen.Tel: 66256814

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

SLR

Packing and moving services.

16-01/16-02

WDLR

SLR

Paints and wallpapers, professional work.

Tel:99795097

Work/Employment

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

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

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

28-02/28-03

25/12 - 25-01

FOR RENT

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

Tel: 97720081

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

25-01/25-02

FOR RENT

20-02/20-03

SLR

6068 5554

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

Price: KD. 15 each

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

(includes mattres)

Serious buyers please contact 67002524

Tel:67058331

contact Mr. Khaled Ph: 99619998 & 55619998

1/02-02/03

Items for sale

Tel: 9769364

Call: 94441209

KD 50 KD 25 KD 60 KD 35 KD 10

Brand New Items…!!!

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

KD 20 (sold in MC for KD 30)

Events planner

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

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

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

Kitchen Equipment repairs 24hours.

Abu Mahmud: SLR

WDLR

Baby Items in “Excellent Condition” For Sale

SLR

Satellite service, 24hours, covers all area.

miscellaneous

Mudarrib Nafais : Contact: 65553012

Tel: 93399180

Satellite

Tel: 60091481

- Flexible Timing - Reasonable Price - For all languages

Tuitions available with a qualified /experienced teacher in Hawalli for students from Class 1 to Class 7 in all subjects except Arabic.

27-02/27-03

EB-5 Investor Program

Driving Instructors available for learners

2004,

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Carpool service, female driver covers all Kuwait areas.

Website designer and management

Tel:60361977

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Sewer system cleaning.

Tel:66070166

Tel:66238890

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Paints and wallpapers.

SLR

Baraka: Tel: 99881053

SLR

South Korea takes 40% stake in UAE oilfields

BUSINESS

tuesdAY, march 6, 2012

m ar ket watc h KUWAIT

DUBAI

0.23% 6201

NO CHANGE

CAPITALS: A Korea National Oil Corporation (KNOC)-led consortium has secured South Korea’s first oil production assets in the United Arab Emirates (UAE), the Korean government said on Monday.

Korea has finalized a deal with Abu Dhabi National Oil Company (ADNOC) to take a 40 percent stake in two onshore and one offshore oil drilling areas, as part of a wider push by oil import dependent Asian countries to secure upstream assets. “We now have our own oil reserves in the Middle East,” South Korean President Lee Myung-bak said in a statement.

QATAR 0.2% 8723

OMAN 0.4% 5869

ABU DHABI

OIL MARKETS BAHRAIN

EGYPT

SAUDI

0.4% 1152

0.5% 5334

0.1% 7357

0.6% 2625

US Crude $106.96 $0.26 London Brent $124.10 $0.45 Kuwait Crude $122.52 $0.01 Information Courtesy: KAMCO

CURRENCIES US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2781 Sell 0.2786 Buy 0.3667 Sell 0.3674

Oil slips below $124 on growth worries LONDON: Brent crude oil slipped below 124 US dollars a barrel on Monday on demand worries after China cut its economic growth target and Iraq said it had raised its oil production to a 30-year high.

Brent futures for April fell to a low of $122.66 before recovering to trade around $123.34, down 31 US cents, by 1525 GMT. US crude was down 44 cents at $106.26.

China cut its 2012 growth target to an eight-year low of 7.5 percent from its long-standing annual goal of 8 percent, causing a fall in Asian shares and raising questions over oil demand.

Although fears over Iran continued to weigh on sentiment, analysts said the possibility of a slowdown in Chinese growth would reduce pressure on oil supply, and technicals suggested limited upside.

“On fundamentals alone, you’ve got to think that the upside should be fairly limited given concerns over economic growth, certainly out of Europe and possibly China as well after they downgraded their growth forecasts earlier today,” said Hewson.

“It’s going to take a geopolitical shock to send it much above $125, and it’s really going to take a significant decline in economic activity to send it below $105.”

Sanctions against Iran, the world’s fifth-largest oil exporter, have made oil trading more difficult, and the country’s biggest customers including China, Japan and India are reducing imports from Tehran, supporting prices.

India’s Mangalore Refinery and Petrochemicals Ltd (MRPL), one of Iran’s biggest customers, announced plans to cut its yearly Iranian oil import deal by as much as 44 percent to 80,000 barrels per day in 2012-2013.

Saudi Arabia’s current spare capacity is 2.5 million bpd while production is now at 9.8 million bpd, the country’s deputy oil minister Abdul Aziz Bin Salman bin Abdulaziz said last week, adding that his country’s main concern was to keep the global oil market

See page 10

Buy 0.4398 Sell 0.4407

Buy 0.00342 Sell 0.003427

Buy 0.0741 Sell 0.0743

Buy 0.07568 Sell 0.07582

Buy 0.07654 Sell 0.07638 Buy 0.7373 Sell 0.73873

Buy 0.005589 Sell 0.005578 Buy 0.006508 Sell 0.006495

Prices in Kuwaiti fils As of March 5, 2012 Courtesy: KAMCO

In Focus

X Men and moonshots Savio S. Gomes Exclusive to Al Watan Daily

This March 17, 2009 file photo, shows an American International Group (AIG) office building in New York. AIG is looking to raise about six billion US dollars by selling part of its stake in Asia subsidiary AIA Group Ltd in a long-awaited move to help the bailed-out US insurer repay the federal government. AIG is offering about 1.7 billion shares in a range of 27.15-27.50 Hong Kong dollars per share - a discount of up to seven percent to Friday’s close of AIA’s shares - according to a term sheet seen by Reuters. Earlier on March 5, 2012 trading in AIA shares was suspended. (Reuters)

well supplied.

In a possible response to additional demand, Saudi Arabia has raised the price of its flagship Arab

Abu Dhabi’s Aabar raises stake in Dubai builder Arabtec DUBAI: Abu Dhabi’s Aabar Investments, which scrapped a 1.7 billion US dollar deal to take a majority stake in Arabtec two years ago, has raised its holding in the Dubai builder to 5.28 percent, according to a filing on the Dubai stock exchange on Monday.

The move makes the sovereign wealth fund one of the largest shareholders in Arabtec. The stake is held under Aabar Petroleum Investments, the filing showed.

Arabtec shares have risen 124 percent this year amid talk of an institutional investor buying up a stake. Neither firm had commented on the speculation. The stock closed down 1.96 percent at 3.5 UAE dirhams ($0.95) on Monday.

In 2010, the two firms said they would cooperate strategically after Aabar’s bid to buy 70 percent of Arabtec was abruptly cancelled. -Reuters

NBK among 50 safest banks in world for 5th time in a row Moved up 14 spots to rank 33

KUWAIT: National Bank of Kuwait (NBK), for the fifth consecutive time, has been listed among the 50 safest banks in the world.

NBK moved up 14 spots, to rank 33 from last year’s 47, illustrating the success of the bank’s conservative strategy, prudent risk management and dedication to service excellence. This was mentioned in a press release on Monday.

The rankings, compiled by international finance magazine, Global Finance, are based on evaluations of long-term credit ratings from Moody’s, Standard & Poor’s (S&P) and Fitch Ratings - and total assets of the 500 largest banks worldwide.

NBK ranked above several international financial heavyweights including Deutsche Bank, JPMorgan Chase, Barclays Group, Crédit Agricole and Bank of Tokyo, as well as being the only bank from Kuwait.

“Counterparty creditworthiness has seldom been of more concern to companies and investors worldwide,” said Global Finance publisher Joseph D. Giarraputo in a press release announcing the World’s 50 Safest Banks: April 2012. “Knowing how their counterparties are faring in the face of global economic uncertainty is key.

This ranking helps companies and investors to get a view on the relative strength of their counterparties-and global financial institutions.”

NBK has consistently been awarded the highest credit ratings of all banks in the region by the major international rating agencies: Moody’s, Standard & Poor’s and Fitch Ratings. In December 2011, global credit rating agency Standard & Poor’s affirmed National Bank of Kuwait’s (NBK) long term credit rating at A+ and determined the bank’s outlook is stable.

Following a review of all banks and financial institutions in the MENA region, Standard & Poor’s commended NBK’s asset quality and proven track record.”NBK’s balance sheet size and business position enable it to cherry-pick the highest-quality customers. Additionally, we note that the bank’s asset quality has proven resilient so far, unlike most of its domestic peers,” the S&P noted in the review of NBK.

Light crude oil for customers in Asia, who buy more than half of its crude exports, by $1.25 a barrel for April. -Reuters

Kuwait appoints 3 new members at CMA Bourse ends trading with 14.4 point gain, both indices in green

CAPITALS: Kuwait named three new commissioners to the Gulf Arab state’s fledging Capital Markets Authority (CMA), state Kuwait News Agency (KUNA) said, ending a protracted dispute.

The CMA, formally launched in 2011 more than 30 years after the stock market was established, had seen three of its original five commissioners removed by cabinet decree last October.

Local media reports said the men were removed for violating CMA laws by holding other jobs at the same time. The market regulator filed a court challenge to the decree, saying it alone was responsible for enforcing its regulations.

KUNA said on Monday the cabinet had issued a draft decree appointing the three new members - Basel Al-Haroun, Faisal Al-Fahad and Mishal AlOsaimi - in its weekly meeting.

The CMA was set up to provide a steadying hand for the Gulf’s third largest stock market in terms of capitalization, after Saudi Arabia and Qatar.

Meanwhile, Kuwait Stock Exchange (KSE) price index was green at the end of Monday’s session, it jumped up to 6,200.8 points, a gain of 14.4 points. The weighted index meanwhile read 415.9 points, a rise of 2.29 points. The trading session saw 9,622 transactions worth 69.55 million Kuwaiti dinars with 799.5 million shares changing hands.

Three of the sector indices were green. The biggest gainer of the day with an up of 97.2 points was the Banking index. Top gainer share was that of Kuwait Resorts Company, while top loser was Gulf Petroleum Investment.

The trading began at Kuwait Stock Exchange (KSE) on Monday with the main indices in the green zone. By 9:30 am, the price index came to 6,192.9 points, an increase of 6.5 points, while the weighted index came to 413.64 points, also up by 0.03 points. Trades came to 2,327 transactions by the time of the reading, with value reaching KD 18.1 million and 190.9 million shares changing hands. -Agencies

Qatar’s Barwa posts 8.9% drop in 2011 net profit

DUBAI: Qatra’s Barwa Real Estate Group said on Monday its 2011 full-year net profit fell by 8.9 percent to 1.29 billion riyals (354.35 million US dollars), compared with 1.41 billion Qatari riyals the previous year. The company

made gains of 556 million in 2011 from the sale of properties, much higher than the 159 million Qatari riyals it made in 2010, it said in an emailed statement. Barwa shares fell five percent on the Doha bourse at 0756 GMT. -Reuters

Libyan stock exchange says to re-open on March 15 TRIPOLI: Libya’s stock exchange is to re-open on March 15, just over a year after the country’s conflict forced it to close down, the head of the bourse said on Sunday. The exchange had previously said it would open at the end of February, but General Manager Ahmed Karoud said that was pushed back because of electricity outages at the bourse and delays in receiving regulatory filings from the listed companies. The re-launch of the exchange will be a symbol that Libya is open for business again after the conflict that ousted Muammar Gaddafi. It is also likely to attract interest from foreign investors seeking opportunities in the new Libya. “We will resume trading on the Libyan Stock Market on March 15, after nearly a year and a month of being closed,” Karoud told a

news conference. “The Libyan Stock market will work with a new image,” he said.

“For three years there was no investment fund set up in Libya, and there is no presence of foreign investors. In the next phase there will be a diversity in ... the Libyan equities market.”

He said the market would re-open with five listed companies, down from the 13 who traded on the bourse before the conflict. He said the reduction was because some of the firms had not yet met the exchange’s regulatory requirements.

In an interview with Reuters last month, Karoud said the board was planning to set up a Sharia-compliant Islamic finance fund. Such funds tend to attract interest from wealthy investors in the Gulf. -Reuters

KUWAIT: John Steinbeck famously remarked that ideas are like rabbits. The principle is that one starts out with a couple, nourishes them and in a relatively short span of time there are dozens of ideas bouncing around. Google recently sponsored ‘Solve for X’ - a conference where innovators, scientists and businessmen were encouraged to propose radical technological solutions to the biggest global challenges.

Google calls the process encouraging ‘moonshot thinking’ to develop breakthrough technologies and develop solutions beyond the imagination and parameters of the everyday business world. The purpose of Solve for X is the create a pipeline of world changing ideas focused initially on energy, climate change and health - issues that politicians and businesses are known to walk away from. These issues, however real, are largely side stepped since solutions in these areas involve 3X thinking (three generations ahead). Technologies for water desalination, bio fuels, elevator towers that stretch to the moon were some areas discussed.

‘Meet and Seat’ is a KLM program that permits passengers to upload their profiles from Facebook and Linkedin.

These profiles can then be used to choose ‘acceptable’ seatmates. Other airlines including Air France, Lufthansa and Virgin Atlantic have also attempted to introduce profile sharing and social networks among their frequent fliers. Malaysia Airlines has introduced ‘Mi-iBuddy’ that allows ticket holders to check if any of their ‘friends’ are either on the same flight or at their destination on the days they are traveling in.

‘Friends’ can select seats together. The Danish startup Planely allows users to submit itineraries, view profiles of other travelers and connect with travelers on the same routes. Satisfly, out of Hong Kong, allows users to submit flight moods (e.g. talk shop, chat casually, sleep off), languages spoken and more specific preferences about seatmates. KLM passengers with confirmed reservations are given seat maps for the flight showing seats of others who have shared their profiles. While ‘social seating’ trends are increasing, some airlines (Air New Zealand, AirAsia X in Malaysia and Vueling of Spain) let (not so social) passengers reserve empty seats beside them for a fee.

Reliance Entertainment is an Indian media and entertainment, production and distribution company. In addition to producing Indian ‘Bollywood’ movies, Reliance has been involved with popular movies such as The Help, Real Steel, Cowboys & Aliens, and more recently War Horse. Meanwhile, DreamWorks Animation is looking at a joint venture with state owned Chinese media groups. Shanghai is likely to get its own state of the art production studio. Flat box office takings in the US are prompting Hollywood producers to take a serious look at movies for the Chinese market.

China adds three new screens a day (the Chinese box office market grew 30 percent in 2011) and will be the world’s biggest cinema market within a few years. Shrek and Kung Fu Panda would probably look more realistic if made in China.

The Chinese media tycoon Bruno Wu is reviewing opportunities to acquire Hollywood film companies, and Summit Entertainment (Twilight), Lions Gate and Miramax have been reported as initial prospects. Culture, censorship and commercial sense represent the triangulation of drivers for the Chinese entertainment industry. And no, Brian Wu is not an exponent of Kung Fu. Amazon has launched a shopping website in India, appropriately (somewhat) called Junglee.com. In line with government regulations, the website will only redirect shoppers to sites of retailers and will not sell products directly. The shopping portal will allow shoppers to compare prices and features online. Over 14,000 brands offering at least 12 million products will be offered. The portal could be an amazing game changer for Amazon especially since the call (contact) centers can be located in India with no complaints from either US trade and online shoppers will be comfortable with Indian accents.

Disclaimer: The views expressed above are the writer’s own, and do not necessarily represent those of Al Watan Daily and its staff. Savio is a financial and management advisor with a background in economics. He has carried outconsulting and management intervention projects in several countries such as USA, UK, Australia, Kenya, Armenia, Kuwait, Saudi Arabia etc. The writer may be contacted on saviosgomes@gmail.com.

UAE February PMI edges down CAPITALS: Growth in business activity in the United Arab Emirates’ (UAE) non-oil private sector slipped slightly in February as expansion in output and employment weakened, but new orders were strong, a purchasing managers’ survey showed on Monday. The Hong Kong and Shanghai Banking Corporation (HSBC) UAE Purchasing Managers’ Index, which measures the performance of the member of the Organization of Petroleum exporting Countries (OPEC) manufacturing and services sectors, decreased to 52.0 points last month from 52.4 in January.

The seasonally adjusted index remains above the 50-point mark which separates growth from contraction, the survey of 400 private sector firms showed.

“The strong new order score is encouraging and suggests that growth may begin to build pace in the months ahead,” said Simon Williams, chief economist for the

Middle East and North Africa at HSBC. “For now, though, the February reading points only to stabilization and paints a picture of an economy still operating below capacity.”

Total new order receipts continued to grow in February although at a weaker pace, reaching 56.8 points after 57.5 in the previous month. Export orders for UAE non-oil private sector firms jumped to 55.0 points from 52.8, with respondents reporting the expansion was driven by stronger demand from clients in Africa and other Middle Eastern countries.

Output growth fell to the lowest level in five months in February, while employment only picked up marginally.

Overall input price inflation accelerated to a three-month high in February, the survey showed, while the staff costs index rose back above 50 after two months below that level. -Reuters

10

BUSINESS IN REGION

ALWATAN DAILY tuesDAY, march 6, 2012

South Korea takes 40% stake in UAE oilfields CAPITALS: A Korea National Oil Corporation (KNOC)-led consortium has secured South Korea’s first oil production assets in the United Arab Emirates (UAE), the Korean government said on Monday.

Korea has finalized a deal with Abu Dhabi National Oil Company (ADNOC) to take a 40 percent stake in two onshore and one offshore oil drilling areas, as part of a wider push by oil import dependent Asian countries to secure upstream assets.

“We now have our own oil reserves in the Middle East,” South Korean President Lee Myung-bak said in a statement. “Through this, stable crude supply to us are more guaranteed, and our energy security taken a big step forward.”

Under the deal, state-run Korea National Oil Corporation (KNOC) will hold 34 percent and GS Energy will hold a 6 percent stake in the projects. ADNOC will own 60 percent.

The Korean consortium is expected to invest two billion US dollars of the estimated five billion dollars total cost of developing the fields, the Korean government said in a statement.

The deal gives South Korea access to fields with combined reserves of at least 570 million barrels of oil, which Seoul has previously said it would have exclusive rights over if other oil supply sources were disrupted.

Oil production is expected to begin in 2014, if the development starts as planned later this month, and could rise to 43,000 barrels per day (bpd). GS Energy, owned by GS Holdings Corp, has a 50 percent stake in South Korea’s second-largest crude oil refiner GS Caltex Corp, with US oil major Chevron holding the other half.

The UAE’s concessions system for existing oil and gas fields allows producers to acquire their own equity hydrocarbons from the member of the Organization of Petroleum Exporting Countries (OPEC) but they have to provide much of the investment.

Western oil companies have held large stakes in the concessions for decades, but the upcoming expiry of existing concessions in 2014 offers rapidly-growing Asian economies a chance to secure more supplies from one of the world’s biggest crude exporters.

FILE - This file photo shows company’s signage at head office of the Korea National Oil Corporation (KNOC) in Anyang. The energy group is to invest $2 billion as part of a project to develop three oil fields in the United Arab Emirates, according to officials. (AFP)

Rather than automatically renewing deals with western companies, the UAE plans to put its Abu Dhabi Company for Onshore Oil Operations (ADCO) oil concessions to tender when they come up for renewal.

“The big question is whether Asian companies will also be successful in entering the onshore ADCO concession when it expires in 2014,” Robin Mills of Dubai-based Manaar Energy Consulting said. -Reuters

Metito awarded multi-million dollar contract in Iraq KARBALA, Iraq: Cementing its position as the leading provider of total, intelligent water management solutions in emerging markets, Metito announced in a press release on Monday its latest project in Iraq worth more than nine million US dollars.

“Iraq is striving to improve infrastructure across the whole country which will create interesting opportunities for the water sector”, insisted Mustafa Hasan, General Manager of Metito Jordan, Iraq and Syria. In fact, Iraq is continuing to move forward with its strategic plans to invest in infrastructure which was clearly reflected in its commitment to invest 5.3 billion US dollars in new projects over the next two years. From such commitment, stems great prospects for the Water and Waste Water Industry and Metito is at a position to leverage its experience, local presence and global knowhow to foster these valuable opportunities.

Metito has recently been awarded a large scale project in Iraq and the Group is adamant to make this project yet another venue through which it can play a role in supporting the great efforts being invested in developing this strategic country.

Keen to enrich its existing portfolio, Metito’s work on this project will see the Group join forces with Balad Al Khebra to upgrade the main Freeha Sewage Treatment Plant (STP) in the holy city of Karbala, located approximately 100 km South-West of Baghdad.

Upon completion in Q4 2012, the development works

will see the plant capacity increased to accommodate 60,000 meters cubed of effluent per day.

Commenting on this project, Mohammed Al-Ezzi, General Manager Balad Al-Khebra, said, “The plant was built in the seventies in the suburbs while it is now considered to be the epicenter of Karbala. The city is witnessing a population growth and an increasing number of visitors which urges the need of such investment into the water infrastructure. Our work will ensure an improved quality of the treated effluent while eliminating odor problems in the surrounding area among other implications.”

Metito’s operations in Iraq spans over 30 years and cover a wide range of large scale projects but this is the first time for Metito to work with Balad Al-Khebra, a partner that the Group is honored to have had the opportunity to work with. This collaboration will make the best use of the wealth of experience both partners own and will build on the operational knowhow which Metito has refined over 50 years of industry expertise.

“The Iraqi Government is committed to improving the lives of the Iraqi people through strategic infrastructure projects and as leaders in the Water and Waste Water industry in the region, Metito has the expertise, local knowledge and a world-class technical knowhow than can ensure delivering the most practical and intelligent water management solutions for such projects”, confirmed Mustafa Hasan.

Saudi Electricity plans big fuel oil power plant KHOBAR, Saudi Arabia: Saudi Electricity (SEC) is looking for companies to build and operate a 1,700megawatt (MW) independent power plant (IPP) running on fuel oil, the state-controlled utility said on Monday.

Expressions of interest in running the plant at Rabigh on the West coast of the world’s largest oil exporting country should be submitted by March 21, SEC said in a statement.

The Rabigh IPP2 plant will use fuel oil and is the fourth of five planned IPPs that will add a total of around 11,000 MW of power generation capacity. The other three are under construction and include the 1,200 MW Rabigh IPP1.

SEC will buy electricity from the new company under a Power Purchase Agreement (PPA).

In September last year, SEC signed a deal with a consortium led by Saudi Acwa Power Projects and including South Korea’s Samsung C&T to build the 4,000-MW gas fired power plant, the third IPP project.

Saudi Electricity has an 80-billion US dollar investment plan to increase its power generation capacity by 30,000 MW by 2018 to meet power demand that is rising by around eight percent a year. -Reuters

India’s top Iranian oil buyer plans to cut imports NEW DELHI: India’s largest Iranian oil buyer plans almost to halve daily imports, industry sources said on Monday, becoming the latest Asian refiner to cut supplies from Iran as Western sanctions make trade with the Organization of Petroleum Exporting Countries’ (OPEC’s) second-largest producer difficult.

India, China and Japan buy almost half of Iran’s estimated 2.6 million barrels per day of oil exports, but a raft of US and European sanctions aimed at choking off funding for Iran’s nuclear program are squeezing its oil supply lines.

State-run Mangalore Refinery and Petrochemicals Ltd, or MRPL, could reduce imports to as little as 80,000 barrels per day (bpd) for the fiscal year starting on April 1, the sources said. It usually buys 150,000 bpd.

MRPL officials could not immediately be reached for comment.

Like other Asian nations, India appears to be trying to wean itself off Iranian crude before the sanctions take effect on June 28. MRPL is the third Indian refiner planning import cuts.

“There will be a drastic reduction in volumes from Iran,” said one source. “For the next fiscal year, MRPL plans to restrict its term deal to 80,000-100,000 bpd.”

Another source said the refiner planned to only import 80,000 bpd, with the option to buy more.

Iran is the biggest crude supplier to India after Saudi Arabia.

If refiners go ahead with plans to cut Iranian imports, they would cut crude purchases from the Islamic Republic by more than 20 percent in the 2012/13 fiscal year, according to Reuters’ calculations. That would be more than the at least 10 percent cut the government has unofficially requested refiners should make, sources have told Reuters.

The governments in New Delhi and Beijing have publicly criticized US sanctions demanding punishment for the US operations of companies that fail to reduce Iranian oil imports.

In public, New Delhi says it will not comply with the sanctions. But behind the scenes, sources at state-run refineries say the government has instructed them to cut imports.

It is unclear whether that is to avoid the political damage of keeping the flow unchanged or simply to avoid the headache and expense of trying to find ways to pay for the oil.

Even with cuts of more than 20 percent, India will remain among the top buyers of Iranian crude and so still has to maintain the 11 billion US dollars annual trade with Iran.

Iraq oil output over 3 million barrels per day, first time in decades

BAGHDAD: Iraq’s oil production has risen above three million barrels per day (bpd) for the first time in more than three decades, it announced on Monday, and said it will sharply increase exports with a major new floating oil terminal beginning operations in three days.

“While I am talking to you today, the Iraqi oil production has exceeded three million barrels per day,” Deputy Prime Minister Hussein Al-Shahristani told a conference in Baghdad.

“Loading crude from the first floating oil terminal will start during the next three days.”

Nine years after the invasion that toppled dictator Saddam Hussein, Iraq has ambitious plans to expand oil production long held back by decades of sanctions and war.

Oil executives involved in Iraq’s oil development projects injected a note of caution.They see a gradual rise in Iraq’s production, which ran just below 2.7 million bpd in 2011, to an average three million bpd this year.

Al-Shahristani’s figures, if sustained, would signal a major increase in Iraqi output. Oil Minister Abdul-Kareem Luaibi called it the highest figure since 1979.

Iraq’s production averaged just 2.68 million bpd last month, according to the Organization of Petroleum Exporting Countries (OPEC). Average daily output has often been held back by a lack of export infrastructure to load oil onto ships.

Iraq officially announced the opening of its new export outlet last month, but the Single Point Mooring (SPM) facility off the southern coast has yet to start operation, with officials blaming the delay on bad weather.

The new facility would allow Iraq to increase its exports by 300,000 bpd. Iraq’s exports were just 2.014 million bpd in February, Iraq’s State Oil Marketing Organization (SOMO) said, down from 2.106 million bpd in January, with officials blaming weather in the Gulf for stalling loading.

An increase in Iraqi exports could help alleviate international markets wary of cuts in exports from neighboring Iran due to US and European sanctions on Tehran.

India and other buyers of Iranian oil have indicated they could switch to Iraqi supplies if they are available.

Ambitious plans

Iraq aims to double its oil output over the next three years and has a long-term goal of 12 million bpd. Although that target may be out of reach, Iraq is still expected to be the world’s biggest source of new oil supplies over the next few years.

Luaibi told reporters at the conference that Iraq was examining offers by Britain’s BP and Schlumberger NV to upgrade production at Kirkuk, one of Iraq’s biggest and oldest oilfields.

Exploration in northern Iraq has been held back in part by disputes between the central government and the autonomous Kurdish region over control of fields in Kurdish provinces.

The central government says it alone has the right to export Iraqi oil, and adds that deals signed by foreign firms with the Kurdish regional authorities, such as one announced by ExxonMobil, are illegal.

Luaibi repeated earlier remarks by Iraqi officials that an announcement on the Exxon deal would be made soon.

Luaibi said Iraq’s central authorities had received only 65,000 bpd of oil - less than half the 175,000 bpd they had expected - from the Kurdish region since the start of the year.

The central authorities say they suspect that missing Kurdish oil is being illegally exported abroad. -Reuters

garner a waiver from the United States to sanctions.

Refiners are negotiating annual contract deals due to take effect from April, so want to ensure those deals are compliant with government direction.

The United States can exempt countries from the sanctions if they have made substantial reductions in imports.

Payment headache

Payment problems have already reduced the amount of oil MRPL bought from Iran this year: the refiner had a contract to buy 142,000 bpd of oil in 2011/12, but its only imported between 120,000 and 122,000 bpd, the sources said.

“As was the case in 2010/11, MRPL was hoping to take 150,000 bpd against a term deal of 7.1 million tons, but supplies were hit due to payment problems,” a source said.

One of the sources said MRPL, in talks with the staterun National Iran Oil Co., was waiting to see how the new payments mechanism would work before deciding on its crude purchases.

Indian companies are paying for Iranian oil in euros via a bank in Turkey, after a clearing mechanism was scrapped under pressure from Washington in December 2010.

As an alternative, India and Iran have agreed to use the Indian currency, the rupee, to pay for 45 percent of oil imports.

Iran has already started paying Indian exporters in rupees, but refiners are waiting to hear from the government on whether they will have to pay hefty taxes before using rupees to pay for oil.

FILE- A worker pours oil into the tank of a three-wheeler at a Lanka India Oil fuel station in Colombo Nov. 1,2011.

India’s largest Iranian oil buyer plans almost to halve daily imports, industry sources said on Monday, becoming the latest Asian refiner to cut supplies from Iran as Western sanctions make trade with the Organization of Petroleum Exporting Countries’ (OPEC’s) second-largest producer difficult. (Reuters)

The two sides have held meetings over the past month to discuss how to bypass the sanctions to ensure both can pay for bilateral trade.

China has used Iran’s growing political isolation to get better terms than Iran wanted to give on annual oil contract negotiations.

To force Iran to cut the deal it wanted, China reduced imports from Iran during the first quarter so deeply that even if it returns to the same daily flow as in 2011, the aver-

age reduction for the year would be 14 percent.

Japan and the United States are close to a deal on cuts in Iranian crude oil imports, Japanese Foreign Minister Koichiro Gemba told Reuters on Monday. That could amount to a higher-than-expected 20 percent or more a year, a newspaper reported last month, as Tokyo seeks to win waivers from US sanctions.

Japanese refiners are waiting for word from their government on how much they need to cut imports for Japan to

More Arab crude

India’s state-run Hindustan Petroleum Corp has said it would cut its annual imports of Iranian crude by about 15 percent to 60,000 bpd.

State-run refiner Bharat Petroleum is also planning to cut imports from Iran, according to industry sources. Private refiner Essar Oil is keeping imports unchanged at 100,000 bpd.

Like other Indian refiners trying to make up for the loss of Iranian crude, MRPL has been seeking additional crude from Saudi Arabia, the world’s top oil exporter, as well as Kuwait and the United Arab Emirates (UAE).

The refiner is also planning its first-ever import deal from Iraq, although the amount is likely to be small. India is seeking up to 80,000 bpd oil from Iraq. -Reuters

ALWATAN DAILY

MARKETS

China cuts 2012 GDP growth to 7.5%

Midas Furniture announces biggest-ever winners in 3rd Week of ‘Win Daily’ campaign

Midas Furniture announces biggest-ever winners in 3rd Week of ‘Win Daily’ campaign 62 winners so far, 33 still up for grabs in final week KUWAIT: The success of Midas ‘Win Daily’ campaign reached new heights in the third week as the furniture retailer announced in a press release on Monday, record breaking prize values and yet another two-time winner for the second consecutive week.

Ayman Al-Sayed Salama led the list of 21 winners by winning 3,226 Kuwaiti dinars and Fatema Farhani became the second lucky customer to win twice in the same day.

“The ever-increasing prize values coupled with the fact that we have once again seen someone win twice in one day indicates that the peak is yet to be known in this unprecedented campaign. We are now going into our fourth and final week with confidence that we are achieving great things for our customers,” commented Mr. Russell Brown, Midas Regional Director Retail Division.

The campaign represents the first opportunity in Kuwait where new winners are awarded every day for an entire month. The odds of winning are unusually high where customers can receive 100 percent, 50 percent or 25 percent of their purchase value for every KD 50 spent.

The lucky winners of the third week are:

Ethnic minority delegates pose for photos as they arrive at the Great Hall of the People during the National People’s Congress (NPC) in Tiananmen square, Beijing on March 5, 2012. (AFP)

TOKYO: China sets its gross domestic product (GDP) growth target at 7.5 percent this year, down from eight percent in 2011, Chinese Premier Wen Jiabao said Monday at the parliament’s annual session, according to the official Xinhua News Agency.

This is the first time for China to lower its economic growth target after keeping it around 8 percent for seven consecutive years, in face of global turbulence and a pressing demand for accelerating economic structural improvement, the report said. “I wish to stress that in setting a slightly lower GDP growth rate, we hope to make it fit with targets in the 12th Five-Year Plan, and to guide people in all sectors to focus their work on accelerating the transformation of the pattern of economic development and making economic development more sustainable and efficient,” Wen was quoted as saying.

Previously, the world’s second-biggest economy has announced to target an annual average GDP growth of 7 percent from 2011 to 2015, the country’s 12th FiveYear Plan period. China’s economy expanded by 9.2 percent in 2011 to 7.5 trillion US dollars from a year earlier after it grew 10.4 percent in 2010.

In the fourth quarter last year, the country’s GDP growth decelerated to 8.9 percent year-on-year, the slowest pace in 10 quarters. China still faces many difficulties and challenges internationally and domestically in economic and social development, according to Wen.

The International Monetary Fund (IMF) has lowered its forecast for China’s GDP growth this year to 8.2 percent from the nine percent projected in September 2011. It said China’s projected growth could be cut by nearly half if the eurozone, its biggest trade partner, suffers a sharp downturn due to the debt problems. The Chinese government has set the aim of holding this year’s consumer price growth at around four percent.

China’s consumer price index, a main gauge of inflation, rose 4.5 percent year-on-year in January, down from a 37-month high of 6.5 percent in July last year.

In more news, China’s $410-billion sovereign wealth fund received a $30 billion injection from the government last year, boosting its investment war chest for European assets, state media said Monday. China Investment Corporation (CIC) was set up in 2007 to invest some of the country’s world-beating foreign exchange reserves overseas.

The fund received the additional capital from the State Administration of Foreign Exchange (SAFE) late last year, the China Daily quoted the fund’s deputy general manager, Wang Jianxi, as saying.

The money would be used to buy assets in debtstricken European countries, Wang said. CIC in the short term would devote itself to investing in the region in an active way,” he said. State media said last month that CIC had also received $50 billion from the central bank after the Chinese Lunar New Year holiday in January. -Agencies

Trading Prices of Kuwait Exchange Trading Prices of Kuwait Stock Stock Exchange Date of Closing Prices: 05 / 03 / 2012 For more information please contact “Global” at (+965) 180 42 42 or www.globalinv.net

Global General Index KSE Price Index

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

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485 750 650 870 265 465 850 560

Global Index - Banking Kw Investment Commercial Facilit.

Int'L Financial Adv. National Invest.

Kw Projects Ahlia Holding Coast Invest.

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

Exch KW BH Int

Taiba Kuwaiti Holding

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

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110 265 63 176 345 17.0 66 28.5 112 120 35.5 130 62 38 44.5 38.5 91

192.0 110.0

23.0 31.5 72.0 188 33.0 65 72 56 134

108 265 61 170 335 15.0 63 28.5 110 118 34.5 126 59 34 42.0 38.0 86 180.0 102.0 21.0 31.0 64.0 184 30.5 65 70 51 132

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

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61 112 156 212 32.5 232 47.0 99 940 74 19.0 60.0 96 65 64 36.0 81 22.0 40.5 75 124 53.0 39.0 35.0 24.5 61 310

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

246 134 136 910 196 120 400

238 128 136 900 186 112 395

1200 480 710 650 870 250 465 840 560 321.58 108 260 64 170 340 16.5 63 25.0 130 26.0 230 114 118 50 52 35.0 130 59 35 71 43.5 48.5 64 26.0 244 51 38.5 51 39.0 86 190.0 112.0 23.0 29.0 67.0 29.0 182.0 255 114 31.50 68 70 51 53 64 42.50 132 83.97

300 610 470 148 220 122 40.50 44.66

300 610 470 148 220 122 40.50 44.66

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61 112 152 212 32.5 232 118 80 46.0 120 99 930 72 17.5 60.0 92 62 64 80 36.0 81 21.5 87 17.5 39.5 57 75 122 52.0 39.0 35.0 27.0 23.5 134 134 220 60 310 55.66

60 108 152 210 35.0 234 118 80 46.5 120 99 940 72 18.5 61.0 92 66 63 80 34.0 76 22.5 87 17.5 39.0 57 75 124 50.0 36.5 32.5 27.0 24.5 134 134 220 61 310 55.48

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240 128 420 136 1,420 330 172 900 196 120 395

246 130 420 138 1,420 330 172 880 190 114 420

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59 110 150 212 32.5 232 44.5 99 930 72 17.5 58.0 92 62 62 36.0 74 21.5 39.0 75 122 49.5 36.0 32.0 23.0 58 305

1220 485 750 650 860 260 465 850 560 325.77 110 265 62 172 345 15.5 64 25.0 130 28.5 230 110 120 50 52 35.5 128 61 34 71 44.0 48.5 64 26.0 244 51 38.5 51 38.0 91 190.0 104.0 23.0 31.5 69.0 29.0 186 255 114 31.50 65 71 51 52 64 42.50 132 84.52

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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

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Last Close 184.01 6,200.80 Last Prev.

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Previous Close Change 182.95 1.06 14.40 6,186.40 Trading Activity Chng Volume Tran. Value(KD)

DTD 0.58% 0.23% Last Bid

Last Ask

MTD YTD 1.68% 2.62% 6.65% 1.21% Div. Annual Close Low P/E Yield High

3,030,900 626,700 3,750 102,500 317,450 3,205,650 115,300 2,789,200 489,750 10,681,200

1,200 485 700 630 860 260 460 840 550

1,220 490 750 650 870 265 465 850 560

3.3% 0.0% 2.0% 3.1% 1.6% 0.0% 0.0% 2.4% 0.0% 1.9%

1,220 510 790 680 920 260 475 900 590 326.42

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

16.05 33.26 86.32 17.62 30.03 24.73 12.40 24.21 106.53 19.19

2 640,000 5 10,000 -2 31,720,000 2 4,800,000 5 460,000 1.030,240,000 1 10,080,000 3 480,000 -4 1,280,000 -4 980,000 0.5 2,000,000 1,600,000 -2 2 15,840,000 -1 23,680,000 1 560,000 5,280,000 1.07,080,000 5 11,040,000 8.015,040,000 240,000 7,280,000 2.5 2.0 59,000,000 4.0 740,000 320,000 40,000 -3 1,880,000 1 6,320,000 -1 2,420,000 0.55 241,050,000

15 1 220 101 23 168 140 6 30 23 21 30 176 200 7 53 76 186 384 3 79 693 27 4 1 29 115 59

108 260 61 172 340 15.5 64 26.0 110 118 35.0 128 61 34 42.0 65.0 52 36 38.0 91 188.0 102.0 22.5 31.5 68.0 184 32 65 71 51 51 132.0

112 265 62 174 345 16.0 65 230 112 120 35.5 130 62 35 44.5 69.0 240 56 38.5 190.0 104.0 25.0 69.0 188 33 72 72 56 52 134.0

0.0% 8.3% 0.0% 0.0% 5.8% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 8.3% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.2% 5 1% 5.1% 0.0% 0.0% 0.0% 0.0% 0.0% 9.6% 0.0% 0.0% 0.0% 2.3%

110 265 67 174 345 18.5 65 25.0 130 36.0 230 122 120 50 52 35.5 136 62 35 71 44.0 48.5 70.0 26.0 244 54 39 51 41.0 91 212.0 130.0 25.0 33.5 96.0 29.0 186 255 114 32 68 71 60 53 64 42.5 134.0 84.52

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

42.09 12.33

2,870

70,160 2,650 1,982,840 830,320 157,100 481,200 653,160 13,680 142,800 117,480 70,760 204,680 968,480 852,760 24,320 202,320 634,720 2,064,640 1,586,000 5,320 228,840 4,046,040 138,000 10,200 2,600 133,440 332,720 319,480 16,276,710

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290 450 112 28.5

300 650 475 146 43.0

6.7% 4.1% 5.3% 6.8% 2.7% 0.0% 0.0% 4.6%

325 610 520 148 220 134 40.5 44.80

280 550 450 102 220 102 40.5 42.22

15.67 14.06 9.60 23.37 296.83

1 20,480,000 4 4,580,000 4,940,000 2 20,000 -3 80,000 2.040,000 0.511,840,000 720,000 -10 495,000 240,000 1.017,680,000 8,960,000 1.015,840,000 -4 1,160,000 1 2,680,000 80,000 2.0 8,360,000 5 1,680,000 1.00.5 800,000 80,000 -2 100,000 2 66,080,000 2.5 4,560,000 2.5 11,040,000 7,040,000 1.0-1 400,000 3,930,000 0.18 193,905,000

156 42 69 1 1 2 87 14 48 5 124 107 110 26 47 1 123 17 10 1 5 590 51 116 57 10 109

60 110 152 208 232 118 77 45.5 99 930 72 17.5 58.0 91 62 62 80 34.0 80 21.0 87 39.0 75 118 51.0 39.0 35.0 26.0 23.0 33 58 305

61 112 154 214 35.0 236 128 81 46.0 130 100 940 73 18.0 60.0 92 64 64 36.5 81 21.5 40.5 58 124 52.0 27.0 23.5 134 36 59 310

0.0% 0.0% 0.0% 9.4% 0.0% 4.3% 0.0% 6.3% 0.0% 5.8% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.7% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.7% 0.0% 0.0% 0.0% 0.0% 1.0%

61 118 152 212 37.5 236 130 82 52.0 120 104 940 80 20.0 61.0 92 75 64 90 38.0 81 23.0 91 17.5 40.5 59 80 144 52.0 39.5 35.0 28.5 25.5 134 34 220 70 480 55.66

47 97 108 200 32.5 224 114 77 27.0 108 94 840 62 11.0 35.0 77 56 52 80 33.0 59 13.5 87 17.5 31.0 57 64 116 27.5 22.0 25.0 25.5 15.0 134 32 220 49 270 49.06

47.27 14.37 27.23 18.90

1,929

1,231,440 506,840 753,720 4,240 2,600 9,280 542,640 71,280 460,450 17,520 321,600 524,280 1,483,600 73,480 169,680 2,880 660,040 36,240 31,920 6,000 12,240 3,393,920 172,840 377,480 167,080 23,760 1,210,650 12,267,700

162 96 1 11 2 8 4

2,380,000 406,840 13,600 126,400 7,640 25,320 15,900

240 128 420 134 1,420 325 162 890 200 118 -

242 130 430 136 1,440 330 180 900 120 400

0.0% 0.0% 2.4% 3.7% 4.6% 3.0% 2.9% 11.1% 5.1% 0.0% 5.1%

260 134 470 158 1,480 345 222 920 200 120 495

214 120 415 136 1,380 315 172 660 180 102 395

-6 -2 -2 20 6 6 -25

Third Prize (25%) Naser Bader Al-Rekhayes Khaled Wasmi Awad Ftema Rashed Al-Rashid Razan Ahmad Yousef Hussain Mohammad Mansoor Mishari Darweesh Ahmad Abdullah Mohammad Al-Thuwaini

118 270 510 252 116 372 180

Prize Value 565 622 178 317 386 50 610

Second Prize Prize (50%) Value Mahomood Taher 50 Sulaiman Nadia Abbas 98 Al-Munawer Hamed 325 Mohammad Faraj Hamad Suood 3226 Al-Azmi Saad 775 Al-Wasmi Nawwaf Menkhi 1252 Khalaf Fatema 1251 Farhani

First Prize (100%) Mubarak Hammad Al-Ajmi Mohammad Al-Hakkak Salah Al-Najdi Ayman Al-Sayed Salama Ghaziyah Awwad Al-Rashid Nwaier Mohammad Fhaid Fatema Farhani

Purchase Date 2012.02.12 2012.02.13 2012.02.14 2012.02.15 2012.02.16 2012.02.17 2012.02.18

Midas ‘Win Daily’ campaign winners

The campaign runs until the end of February, where Midas customers still have the opportunity to select tomers canfurniture receive percent, per- Transitional, delivery Classical, and assembly, free and furniture stortheir dream from100 a wide selection50 of Modern, Kids furniture cent or 25 percent of their purchase value ageby for up toof90 days after purchase accessories.

The shopping experience is further enhanced a bouquet value-added services such asand for KD spent. free furniture storage for up to ‘the highest’ level ofand customer service. freeevery delivery and50 assembly, 90 days after purchase ‘the highest’ level of The campaign runs until the end of Midas Furniture was established in customer service.

February, where Midas customers 1993vision based on thehigh-quality unique vision proMidas Furniture was established in 1993 basedstill on the unique of providing furnitureofand have the opportunity to select their viding high-quality furniture and accesaccessories at affordable prices. Today, Midas is one of the largest furniture retailers in home and office dream from ina Kuwait, wide Saudi selection sories affordable furniturefurniture with nine branches Arabia, Dubai, Qatar,atJordan and Iraq.prices. Today, Midas

of Modern, Transitional, Classical, Kids furniture and accessories. The shopping CAPTION: experience is further enhanced by a bouMidas ‘Win Daily’ campaign winners quet of value-added services such as free

Date of Closing Prices:

84 29 1 12 19 229 14 138 33 559

Ex-D -

KUWAIT: The success of Midas ‘Win Daily’ campaign reached new heights in the third week as the furniture retailer announced in a press release on Monday, record breaking prize values and yet another two-time winner for the second consecutive week.

Ayman Al-Sayed Salama led the list of 21 winners by winning 3,226 Kuwaiti dinars and Fatema Farhani became the second lucky customer to win twice in the same day.

“The ever-increasing prize values coupled with the fact that we have once again seen someone win twice in one day indicates that the peak is yet to be known in this unprecedented campaign.

We are now going into our fourth and final week with confidence that we are achieving great things for our customers,” commented Mr. Russell Brown, Midas Regional Director Retail Division. The campaign represents the first opportunity in Kuwait where new winners are awarded every day for an entire month. The odds of winning are unusually high where cus-

Prize Value

is one of the largest furniture retailers in home and office furniture with nine branches in Kuwait, Saudi Arabia, Dubai, Qatar, Jordan and Iraq.

9,880,000 3,120,000 100,000 140,000 40,000 220,000 40,000

05 / 01 / 2012

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

2,525,000 1,300,000 5,000 160,000 365,000 12,410,000 250,000 3,320,000 885,000 21,220,000

20 5 40 -10 10 10 4.18

62 winners so far, 33 still up for grabs in final week

Trading Prices of Kuwait Stock Exchange Date of Closig Prices: 5/03/2012

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

Company

11

TUESDAY, march 6, 2012

89.98 13.95 1.65 0.00

0.00 0.00 0.00 0.00 0.00 0.00 30.41 0.00 116.80 0.00 0.00 0.00

0.00 9.75 22 77 22.77 11.92 41.10

0.00 5.36 12.82

12.97

16.78 5.16 16.98 40.46 23.46 0.00 17.18 31.19

6.37 24.77 12.18 5.30 52.56

23.07 18.82 0.00 0.00 18.25 73.01 17.16 6.49 7.90 157.27 120.19 11.88 26.71 22.99

ACICO

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United Industries Global General Index 96 610 Boubyan Petroch.

KSE Price Index

Gulf Glass HilalCompany Cement Al Kout Ind. Project High 1,140 K-PAK Bank National Gulf BankMaterial 495 Building Commercial 770 Nat. Ind.Co.Bank Ahli Bank 640 70 Equipment Holding Ahli United Bank 850 Mena Holding International Bank 248 Consumer Industries 460 Burgan Kuwait Bank Gypsum 890 Kw Finance House 214 Qurain Boubyan Bank 590 Salbookh Trading 53 Global IKARUSIndex - Banking178 81 Boubyan Int'L Ind. Kw Investment -

95 600 Low 1,120 490 770 640 66 800 248 455 880 210 580 51 176 79 -

ŷ źź źź ŷ ŷ

ŷ ŷ ŷ ŷ ŷ źŸ Ÿŷ ŷ ŷ źŷ źŷ ŷ ŷ źź ŷ ŷ 265 260 źź Commercial Facilit.

Global Index - Industrial 41 40 ź Int'L Financial Adv. NationalInvest.

Cinema 174 National 170 - źŷ KwProjects Hotels 300 - Ÿŷ Kw 300 425 ŷŷ 435 12.5 Agility Ahlia Holding 13.5 56 52 źź Market Complexes Coast Invest.

53 52 ZAIN -860 -850 ŷŷ Int'L Investor 77.0 75.0 Safat Energy Securities House - ŷŸ Educational - ŷŷ Ind. & Fin. Inv.Group Indep. Petroleum -Securities Group - - ŷŷ Int'L Finance - ŷŸ 142 National Cleaning 136 110 MARKAZ 108 138 Sultan Center 132 ŷŷ KMIFIC - ŷŸ 99 Arabi Group 98 Int'L Group CityInv. Group - ŷŷ Aref Inv. Group - ŷŸ 2,040 2,020 Wataniya Tele.

Investment Dar - ŷŸ 122 Kw Gulf Link 112 Al AMAN Inv. Kw Cable Vision - ŷŷ ALOLA Inv. System 110 108 - ŷŷ Automated ALMAL Inv. 50 49 ź NAPESCO - ŷ Gulf Inv. House - ŷ 270 KCPC 270 ŷ - ŷ A'ayan Leasing K.S.H - ŷ 31.0 ŷ 32.5 Bayan Inv. - ŷŷ Eyas GLOBAL Inv. Hits Telecom - 90 - 83 ŷŸ Osoul Inv. 21.5 Al Safwa Holding 20.5 ź GULFINVEST ŷ Human Soft - ŷŷ KFIC Privatization Holding 77 82 KAMCO - ŷź 97 Nafaaes Holding 97 Int'l Leasing & Inv. - ŷŸ National Slaughter - - ŷŷ Nat. Int'l Holding -112 108 Aref energy - ŷŸ Housing Finance MADAR -Safwan - - ŷŷ 26.5 Al Deera Holding 64.0 26.5 60.0 ŷź Gulf Petroleum Al Safat Inv. - ŷŸ 25.0 28.5 Gulf Franchising 122.0 - 114.0 - Ÿŷ Al Salam Credit & Group Collection 41.0 Ekttitab Holding National Ranges 19.5 39.0 18.0 źŸ -255 ŷź Al QurainWell Holding -255 Burgan Drilling 16.5 Sokouk Holding 455 16.5 IFA H&R 440 ŷŷ Al-Madina Finance 40.0 1,520 38.5 1,520 źŷ Combinted Group NOOR 76 75 ŷź Jeeran Holding Tamdeen Inv. 160 158 ź 86 86 ŷ Palms Agro KW BH Int'l Exch.

- ŷ 74.0 Safat TEC 72.0 Ÿ Taiba Kuwaiti Holding - ŷ 92 89 Mushrif Trading Ÿ Kuwait Syrian - ŷ U it d P j t United Projects 325 325 Strategia - ŷŷ 315 ALAFCO 305 53 53 ŷŸ Kuwait China Inv. Al-Muwasat -- - ŷŷ Manafae Inv. Mashaer 226 222 Gulf NorthHolding Africa - ŷź Oula Fuel 270 265 Amwal - ŷŷ Future - ŷŷ Al MasarComm.

Hayat Comm.

78 81 124 źź Al-Imtiaz 132 Mubarrad Transport 72 66 źŸ Global Index - Investment Kuwait Resorts 56.0 52.0 Ÿ Kuwait Insurance - ŷ Advanced Technolgy - ŷ - ŷ Gulf Insurance Yiaco Medical 375 375 - ŷŷ Ahlia Insurance Al Jazeera Airways 470 480 112 108 źŷ Warba Insurance Al Soor Fuel 236 236 ź Kuwait Re-Ins. Future Kid First Takaful Ins. - - ŷŷ K G L Insurance Wethaq -244 -244 ŷŸ 90 85 źŷ Al Nawadi Global Index - Insurance Alrai Media 140 ŷ 146 48 - ź Kuwait R.E. 48 Zima Holding ŷ 100 Ÿ United R.E. 100 Global R.E. Index - Services 118 ŸŸ National 126 200 - źŷ Salhia R.E. Trans.

204 LiveStock -110 ŷź Pearl -114 DanaR.E. Al-Safat 224 224 - źŷ Tamdeen R.E. United Poultry Ajial R.E. - ŷź 1,440 Kw FoodStuff 1,440 - - ŷŷ Massaleh R.E. -United Food Arab 30.0 - 30.0 - źŷ KoutR.E. Food - ŷ Union R.E. ź Global Index - Food 98 96 ź ERESCO Sharjah Cement 89 79 ŸŸ 860 840 Mabani 75 74 INJAZZAT RE Gulf Cement 99 Ÿŷ 102 Inv. UmHolding QuwainGrp Cement 12.0 72 11.5 68 źŸ -120 ŷź -130 Int'L Resorts Fujaira Cement 78 77 ŸŸ Commercial R.E 124 Ras AlKheimah 122 70 65 - źŷ Sanam ARIG R.E. 54 53 - źŷ Aa'yan UnitedR.E Gulf Bank - ŷŷ Aqar 325 Egypt Kw Holding 325 Kuwait R.E Holding - ŷ Bahrain Kw Ins. 59 ź AL Mazaya 60 Gulf Fin. House 70.0 64.0 ź 14.0 ź Al Dar National R.E 14.0 Inovest Int'L Holding 44 42 - ŷź Themar

Ahli United Bank -188 Grand R.E Projects -188 Ithmaar Bank 22.5 -21.5 Tijara & R.E Invest Al Tameer Global Index - Non-Kuwaiti Arkan Al-Kuwait R.E 70 70 Markaz Real Estate Safat Global Investment Al Argan Int'L Funds 28.5 28.0 Abyaar Al-Bareeq Holding 23.5 - 23.5 Munshaat AFAQ First Dubai 26.0 - 25.5 Al-Shamel KBT 27.0 Al-Safat Real Estate 27.0 Manazel 16.5 - 15.5 Ajwan Real Estate REAM Specialities Group 275 275 Mena Real Estate Masaken Inter.

Al Moudon Intl. R.E Dulaqan R.E Markaz Real Estate 57 56 Eid Food Kuwait Remal R.E 295 285 Maidan Clinic

-

Global Index - Real Estate Flex -

-

-

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

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

Heavy & Ship.

Totaleng.

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

Global Index - Islamic

- Change 206 206 Last Close Previous Close DTD MTD YTD 4.9% 224 196 23.76 202 206 -1 2,840,000 42 270,320 95 176.5396 96 94 0.0% 102 94 34.53 -0.40% -1.55% 177.24 -0.70 -1.55% 111,750 610 185,000 8 -27.30 -10 5,754.20 6005,726.90 610 5.8% 610 550 600 -1.50% 85.56 -0.47% -1.50% 1,400 1,400 1,400 2.9% 1,400 1,220 21.05 Last Prev.

Trading Activity - Last - Last224 Div. 216 216 4.6% Annual 216 Close 206 11.21 Close Close Volume -Tran. - Value(KD) - Bid400 Ask High350 Low350 P/E 7.76 Chng 350 Ex-D 350 - Yield 5.7% 275 275 3,796,050 - 1,120 - 1120 1120 69 3,377,500 300 3.6% 7.3% 255 300 1,100 275 13.23 1,140 1,120 14.74 20 495 495 830,000 407,950 490 495 - 0.0% 510 490 33.95 224 Ex-D 224 0.0% 214 228 224 27.09 770 770 10,000 1 7,700 - 770 780 790 770 88.62 295 295 2.7% 275 315 1.9% 320 18.93 260 640 -20 1 222 6,400 660 10,000 64068 66071 3.1% 66070 64051 17.34 1,760,000 118,640 69 70 0.0% 33.55 800 50 850 350,000 23 282,700 840 850 - 1.6% 85033 79033 29.68 33 33 0.0% 0.00 16 248 248 - 700,000 173,600 246 248 - 0.0% 255 24893 23.59 102 102 102 0.0% 460 465 -5 500,000 10 229,750 460 465 - 0.0% 475 460 12.26 128 128 128 128 17.06 9.4% 890 -10 880 1,280,000 6615 1,127,050 880 900 880 25.07 870 212 740,000 156,840 212 212 2.3% 222 210 8.55 210 0.0% 590 590 607,850 - 1,035,000 33 59052 0.0% 58051 59051 59041 112.24 100 5,200,000 269,080 51 51 0.0% 319.37 319.54 8,092,500 6,639,050 18.61 0.1731,720 180 180,000 240 8 176 -4 176 180 318.41 10.34 162 178 2.0% 0.0% 319.54 79 44,600 560,000 11 79 0.0% 106 106 - 10279 10682 0.0% 10688 10670 40.56 260 265 -5 250,000 14 65,750 260 265 8.5% 265 260 12.09 3,978,650 170.09 170.09 163.04 10.66 25,005,000 490 168.77 1.322.7% 40 1,020 170 280 300 430 12.5 53 52 860 25.0 77.0 130 110 31.0 310 230 102 142 108 136 50 99 44.0 530 52 2,040 74 122 28.5 63 108 238 49 375 23 270 71 260 31.0 260 48.5 89 68 21.0 20.5 270 26.0 78 244 97 94 154 51 112 36 51 670 26.5 60.0 75 28.5 120.0 120 39.5 19.0 19.0 255 16.5 455 38.5 1,520 29.0 75 158 86 255 74.0 114 91 26.00 325 68 315 53 130 60 222 46.5 270 64 265 42.50 78 128 72 75.90

41 1,020 172 280 295 430 12.5 55 53 860 25.0 75.0 130 110 31.0 310 230 102 132 112 136 50 94 44.0 530 52 2,020 74 112 28.5 63 108 238 49.5 375 23 270 71 260 31.0 260 48.5 85 68 21.5 20.5 270 26.0 81 244 92 94 154 51 108 36 670 51 26.5 65.0 75 27.0 112.0 120 41.5 18.5 19.0 275 16.5 455 39.0 1,520 29.0 80 160 86 255 72.0 114 88 26.00 325 68 305 53 130 60 226 46.5 270 64 265 42.50 80 130 67 76.02

325 640 560 375 485 475 110 236 220 104 114 244 40.50 85 43.43

325 640 560 375 485 475 118 238 220 104 114 234 40.50 85 43.63

56.0

144 48 110 100 775.67 124

51.0

144 49 110 99 772.72 120

1,680,000 13 1,040,000 20 110,000 5 2,020,000 7,040,000 4658 175 2 9,600,000 1,280,000 22 -1 121 4,205,000 19,360,000 211 2.0 -- - -- - 171 10,920,000 10.0 - 680,000 1859 1,760,000 -5 -3 120,000 - - -19 115,000 20 384 18,040,000 10 - - 14 - 500,000 -1 320,000 4 140,000 10 1,840,000 22 - - 48,520,000 446 4 24,960,000 163 - -1 - - 10,720,000 140 3 80,000 -5 -2 - - - 41 1,360,000 -4 - - - 270 - 5.0240,000 4,200,000 6,080,000 1.5 62 8.0 - 11,180,000 - 212 2.024 1,920,000 232 50,320,000 0.5 - -20 -1 10,000 53 480,000 30,000 0.5- - 10,640,000 93 4 42,500 - -5 -3 120,000 2.080,000 4 1 40,000 31 2.0 1,640,000 3.0 77 4,000,000 10 000 10,000 - -1 680,000 10 200,000 232 - 37 1,460,000 --4 30,000 -3 - - - 480,000 -2.02 1,240,000 3811 13,080,000 558 196 0.12-5 40,720,000 -1 -2 5 -

1,360,000 29 30,000 -1 7 140,000 120,000 6 40,000 -2 - - 40 3,440,000 120,000 120,000 63 9 1,380,000 1 80,000 9 920,000 2,858 240,652,500 105 3,100,000 12 -4 520,000 --4 3,120,000 64 3 10.0- 100,000 -1 2,500 -60 - - - 1 80,000 0.5- 12.403,122,500 65

5.0 - -8 Ex-D-2 - 10 0.19- -1 1 2.95 4

ŷ ŷ ź ŷ ŷ ź ź ŷ ŷ ŷ źŷ źŷ ź ŷ ŷ źŷ ŷ ź ŷ ŷ ŷ ŷ ź ŷ Ÿ ŷ ź

200 190 37.5 110 224 130 120 1,440 82 390 30.0 530 108 352.82 97 89 860 75 102 11.5 70 38.0 120 78 124 65 132 54 230 90 325 38.0 455 59 64.0 14.0 42 91 188 17.5 21.5 31.0 59 46.37 70 122 48.5 124 28.0 144 23.5 106 25.5 250 27.0 30.0 15.5 40 134 275 134 57 220 345 57 106 295 1,860 49.73

204 190 37.5 114 234 130 120 1,500 82 390 30.5 530 108 365.22 98 84 850 73 102 12.0 68 38.0 122 77 122 70 132 55 230 90 325 38.0 455 63 69.0 14.5 45 91 188 17.5 31.022.0 59 46.46 74 122 48.5 124 28.5 144 24.5 106 26.0 250 27.0 30.0 16.5 40 134 280 134 57 220 345 58 106 290 1,860 49.75

źŷ ŷ ŷ ź ŷ ŷ ź ŷ ŷ ŷ ŷ ź ŷ

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

242 -10 13,220,000 - 154 93.0 128 - 140,000 6 65 470 -20 50,000 2 65 150 60,000 1,460 -40 2,500 16 335 - 799,495,0009,622 212 Prev. Close 720 Close 230,000 19 180 193.32 192.11 106 190.35-2 80,000 188.533 460 -

36.0

Ÿ

36.0

-1 320,000 8 4,240,000 10 5 1,935,000 5760 230 120,000 2 1,620,000 15 0.5-2 2,000,000 9,440,000 145 - -2 400,000 15 35 12 240,000 240,000 17 1,000,000 -5 4 -1 200,000 - -2 20,000 - - Ex-D 11 440,000 -4 45,800,000 458 -5 1 80,000 0.58,880,000 96 - -3 700,000 -8 3,200,000 32 - -1 0.0974,540,000 851 -4 320,000 2 - - 12 0.5- 2,720,000 1.0- 80,000 1 0.5240,000 3 Ex-D 35,040,000 - 4 1,200,000 8 1.0- - -5 60,000 6 -1 240,000 6 47 5 2,110,000 0.0253,085,000 332

Ex-D

569.55

-

565.66

-

67,160 40 960 177,720 168 33,000 295 867,750 425 90,920 12.5 520,720 67,280 5152 3,615,000 - 850 1,468,760 76.0 - - 285 1,513,600 142 73,920 106 236,320 134 -93 11,840 - 233,300 2,020 2,124,840 122 - 27.0 54,920 108 15,840 49 365 21 37,800 265 255 58,760 31.0 4,270,360 64.089 528,240 21.0 - 851,400 -77 7,760 -90 134 - 150,920 112 - - 6,360 26.0 258,280 167,920 27.5 1,305,280 - 118.0 77,080 -18.5 958,560 18.0 2,550 7,920 16.0 13,350 440 419,440 38.5 64,600 1,500 9,040 12,680 156 3,440 81 119,480 73.0 361,960 91 3 250 3,250 320 63 207,750 310 10,600 52 - - 327,680 222 8,050 270 - 38,080 124.077 157,920 916,680 71 2,702,550

74,640 11,250 66,450 13,200 9,440 - 839,360 10,400 13,200 198,120 3,840 92,000 21,108,940 383,920

104,680 346,120 22,400 3,600 - 2,400 349,720 31,160 368,240 1,656,950 8,960 161,680 23,960 660,040 49,240 18,520 29,520 67,400 10,720 6,500 - 26,160 3,030,480 1,120 380,200 131,600 69,440 4,886,940 22,400 - 76,880 1,880 6,160 946,080 19,240 16,500 13,520 610,850 4,151,200

-

56.0

300 510 370 460 470 108 234 - - 244

85 138 48 -

99 122 200 - 110 126 110 1,440 - - 510 112 95 86087 7187 11.5 100 35.569 77 118 120 53 - - 320 13.5 90 186.0 30.0 70 116 28.0 23.5 25.0 24.5 15.5 270 29 218 55 84 290

-

-

3,111,120 -17,800 122 22,550 455 150 16,500 1,420 3,550 310 69,549,860 Change 710 165,600 178 1.21 8,480 1.82 104 435

3.89

40

0.0%

1,080 3.9% 172 0.0% 0.0% 300 - 6.7% 9.3% 430 0.0% 13.0 0.0% 5253 0.0% 23.3% - 860 0.0% 0.0% 77.0 0.0% 0.0% 33.5 - 0.0% 330 9.7% 0.0% - - 0.0% 0.0% 110 0.0% 136 9.3% -99 0.0% 0.0% - 550 0.0% 0.0% 0.0% 2,040 2.5% - - 0.0% 0.0% 29.566 0.0% 0.0% 110 - 0.0% 10.5% 50 5.3% 370 0.0% 24 0.0% 1.9% 275 0.0% 6.0% 32.5 0.0% 3.8% 0.0% 0.0% - 90 0.0% 0.0% -21.5 0.0% 0.0% - 280 0.0% 0.0% 78 238 0.0% 0.0% - - 0.0% 5.2% 54 - 0.0% 0.0% 114 0.0% 0.0% 670 3.3% 27.0 60.0 0.0% 0.0% 0.0% 28.5 0.0% 120.0 130 0.0% 0.0% 39.0 19.0 0.0% 0.0% 20.0 260 0.0% 0.0% 16.5 450 0.0% 0.0% 39.0 1,540 0.0% 4.6% % - 76 0.0% 0.0% 3.8% 160 91 9.3% 270 5.1% 74.0 0.0% 0.0% 0.0% 92 0.0% 27 9 2% 325 9.2% 73 0.0% 3.2% 315 0.0% 53 5.4% 61 0.0% 226 10.8% 0.0% 47 275 0.0% 0.0% 69 9.4% - 280 0.0% 79 12.8% 128.0 0.0% 72 2.4% 0.0% 0.0% 325 6.2% 0.0% 610 4.5% 380 5.2% 2.7% 500 480 9.1% 0.0% 114 0.0% 238 2.7% 0.0% 106 0.0% 110 2.0% 43.0 - 0.0% 5.9% 89 4.7% 0.0% 144 49 120 0.0% 0.0% 100 0.0% 11.7% 126 0.0% 202 0.0% 192 10.0% 37.5 4.5% 112 0.0% 224 - 4.5% 0.0% 0.0% 130 1,500 4.5% 6.1% 85 1.3% 410 31.5 3.8% 540 0.0% 6.5% 118 4.0% 0.0% 98 5.6% 87089 0.0% 7689 0.0% 9.8% 12.0 102 0.0% 0.0% 37.070 0.0% 0.0% 79 120 0.0% 8.1% 65 124 0.0% 5.7% 54 - 0.0% 0.0% 91 230 0.0% 9.2% 40.5 330 0.0% 7.7% 60 0.0% 0.0% 14.5 0.0% 0.0% 9464 5.5% 42 5.3% 0.0% 0.0% 188.0 0.0% 33.5 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% 25.5 255 0.0% 3.2% 28.0 0.0% 27.0 0.0% 16.035 0.0% 0.0% 130 2.5% 275 3.7% 0.0% 32 54 0.0% 0.0% 0.0% 57 0.0% 0.0% 0.0% 295 1,960 0.0% 1.1%

48.5

232 93.0 13070 46570 1,440 340 216 DTD 720 190 0.63% 108 0.97% -

0.69%

0.0%

0.0% 0.0% 0.0% 0.0% 2.2% 7.7% 3.3% 0.8% 4.6% 3.0% 4.60% 2.4% 13.9% 5.6% 0.0% 4.3%

42 40 990 1,100 174 170 280 280 305 295 430 340 13.5 12.5 5458 5241 900 840 25.0 25.0 77.0 45.0 130 130 110 110 36.0 31.0 295 345 230 230 102 102 142 110 116 108 108 136 5099 5084 44.0 44.0 530 530 52 52 1,920 2,040 74 7495 122 28.568 28.563 112 108 230 238 51 49 340 395 23 22 260 305 71 71 260 260 31.5 31.0 260 260 48.5 48.5 132 68.0 68.054 23.5 14.0 20.5 20.5 280 270 26.0 26.0 81 244 24461 104 94 9490 154 154 51 51 112 36 3691 51 51 520 670 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 16.5 490 425 39.0 38.0 1,580 1,500 29.074 29.089 156 162 91 86 255 255 74.0 57.0 114 114 80 104 26 28 335 270 68 68 280 315 53 55 130 130 60 60 172 226 47 47 265 305 64 64 265 300 42.5 42.5 132.081 128.070 76.32 72 75.90 51

56.0

44.0

325 325 640 640 560 560 345 390 520 485 410 480 118 110 270 236 220 220 104 114 134 114 246 218 40.5 40.5 92 44.80 43.43 80

156 49 110 100 775.67 128

116 48 110 99 744.62 120

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 12.570 11.543 38.0 38.0 122 46 78 77 126 118 75 65 132 132 54 55 232 188 90 90 330 250 38.0 38.0 455 455 63 59 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 49.86 49.73

-

-

232 260 130 128 470 450 158 150 1,460 1,420 340 335 212 222 MTD 710 740 180 180 1.81% 104 116 2.09% 460 460

1.27%

17.46 88.93 12.13 14.31 1.33 13.17 0.00 23.89 0.00 19.12 0.00 24.47 0.00 53.09 0.00 13.21 0.00 0.00 0.00 11.89

7.13 9.40 11.97 9.19 328.60 32.31 0.00

13.80 0.00

12.80

0.00 9.60 116.80 0.00 0.00 16.65

5.53

0.00

0.00 71.64 99.25 16.62 0.00 3.10 8.28 7.35

22.77 11.92

10.27

60 55 60.55 43.00

5.26 7.80 7.33 22.89 16.17 0.00

5.19 10.01

3.92

16.97 25.05 12.90 12.06 9.91 8.47 17.37 16.48 296.83

11.59 6.44 6.11 12.60 12.86

37.20 12.83 12.34 22.21 17.83

16.20 5.72

11.40

5.29 25.40

9.84

15.28 11.17 39.65 21.70 0.00 14.56 9.92 26.32 35.93

7.39 8.10 42.61

4.15

10.07

67.58 19.44 10.60

11.37 0.00 5.38 27.28

20.67 9.93 23.07 9.44 18.82 63.06 0.00 11.03 0.00 16.27

14.44

70.58 18.38

10.24 6.49 8.02 14.79 193.84 YTD 96.15 10.91 1.99% 23.15 0.14% 26.77

1.34%

STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY tuesday, march 6, 2012

April 21, 2009 March 05, 2012

2% 6%

2% 6% Oman

113

0%

95

Kuwait

0%

-2%

Abu Dhabi Dubai BahrainSaudi

0%

100

Oman

0%

Kuwait

-4%

-1%

-6%

Abu Dhabi

90

GCC Best Performers

Saudi

95 5-Dec-11 85

5-Jan-12

5-Feb-12

MENA Best Performers

-2%

5-Mar-12

-6% -2

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

1 Period's Liquidity 1 Ratio (PLR x)*

-1

MENA Indices Highlights Country (Index)

Index Level

% Chg.

YTD

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

Index 7,357 Level

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

2,625 5,250

-0.6% -4.0%

QaUAUAE Qatar (DSM Index) (ADSM Index)

8,723 2,695

-0.2% 0.6%

BaQa Bahrain Qatar (BSE (DSMIndex) Index)

1,152 5,590

0.4% 3.9%

Jo Jordan (Amman General Index)

1,992

1.7%

Ku Kuwait (KSE Weighted Index)

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

OmOman UAE(MSM (DFMIndex) Index)

416

1,754 406

5,869 1,745

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

5,334

5,478

1,681

11,395

463

1,226

2,825 483

10,621

4,737

1,094 546

Tu TunisiaClosed (Tunis SE Index)* * Market

3,282

52 Wk High

0.1% % Chg.

0.6%

2.5%

2,775 10,090

-0.6% 12.8%

8,892 5,148

29.6% -0.2%

0.4% 1.9%

3.1% 6.6%

0.5%

5.1% 0.4%

2.1%

-

2.2%

0.2%

-0.4%

-

-

0.9% -

467

9.2% 9.3%

0.0% 1.8%

-0.2%

52 Wk 7,351 High

14.6% YTD

0.7% -18.8%

47.3%

0.7%

-6.8%

4.2%

2,293 4,130

50 2,183

69,400 264,263

7,682 2,137

105 122

124,937 69,783

4 196

17,262 65,352

396

5,419 1,433

1,433 12,627

1,129 4,230

2,246

1,921

2,551

513

465

14,635 4,785

4,059

23.6%

739

407

-7.2%

2,119

13.6%

3,418

9,406

-

1,043

-

2,837

-

Trailing

12.99

1.99

0.82 1.52

62,454

10.45

4

13.80

63,640

7.67

18,727

1

33,782

2

9,559

1

1.60

1.29

3.64

1.56

6.52

0.90

12.71

2,528

2.15

9.45

59,990

1.18

18.36

3.95

14.71

8,507

2

1.68

16.52

10,643

67

1.42

8.07

62,130

1.68

6.47

2,079

0.86

8.67

6,576

MENA Worst Performers

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

KWD 1.440 SAR 22.95

225 Saudi Industrial Inv. Grp.

101 Riyad Bank

115

SAR 24.70

-6.4%

255,622,887

187,698,012

422 Emaar the Economic City (KSA)

343,553,085 161,138,315 119,955,261 152,859,789

115 115Alinma AlinmaBank Bank(KSA) (KSA)

97,126,838

NBKNational Bank of Kuwait (KUW)

1,442,090,086

Market Cap. (SAR '000)

110

110

88,742,222

42Emaar the Economic City

5-Feb-12

S&P GCC Large/Mid Composite

604,349,252

20Saudi Basic Industries Corp.

5-Mar-12

10.70

3030.SSE Saudi Cement Co.

4190.SSE Jarir Marketing Co.

% Chg.

9.7%

9.10

9.6%

10.05

6.9%

96.25

3.5%

148.25

Turnover (SAR) 1,488,605,523 1120.SSE Al Rajhi Bank 958,713,637 1040.SSE Saudi Hollandi Bank 703,961,393 1090.SSE Samba Financial Grp.

70Zain - Saudi Arabia

5-Jan-12

Close

1.9%

Worst Performers

43Dar Al Arkan Real Estate Dev. Co.

100

64,280,166

7030.SSE Zain - Saudi Arabia

Highest Turnover

105

-6.8%

Turnover (USD)

201 (KSA) 201Saudi SaudiBasic BasicIndustries IndustriesCorp.

Corp.

(KSA)

13,263,924

Turnover (SAR '000)

-4.0% -8.9%

396,908,552

703 Zain - Saudi Arabia (KSA)

7,351 / 5,763 4300.SSE Dar Al Arkan Real Estate Dev. Co.

Tadawul Index 52 week High / Low

-7.3%

Turnover (USD)

MENA Highest Turnover

1.23

Advance/Decline Ratio

% Chg.

-3.5% -8.6%

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

92% 4220.SSE Emaar the Economic City

% of stocks trading above 1yr avg. price

118

5.6%

8.0%

KWD 0.110 SAR 48.00

SAR 13.70

GCC Highest Turnover

7,357 (0.1%)

Tadawul Index (% Chg.)

120

6.9% 8.6%

0.44 -13.1% -4.4% KWDAED 0.265

EMAEmaar Properties (UAE) Best Performers

Summary

9.6% 8.8%

QAR 28.90% Chg. -5.4% Close

KFI Kuwait Finance House (KUW)

Rebased Performance

95 5-Dec-11

KWD 0.255

BREBarwa Real Estate Co.

9.7% 9.8%

8.0%

Close

ABABurgan Co. for Well Drilling

0.88 201 IFCSaudi International Finance Corp.

Co. 1.74 Basic Industries

9.50

26,947

OMR 0.720

GCC Worst Performers

1.90 FAC DEY Deyaar Development Co. 1.37 Commercial Facilities Co. 1.63 FOO Kuwait Food Co. 0.88 238 Rabigh Petrochem.

9.20 8.85

15,024

5

1.10 1.77

11.66 7.29

QAR 21.60

BKMBankMuscat

PB

10.42 9.99

10.91 6.87

KWD 0.750

QGTQatar Gas Transport Co.

36,511 98,547

8.94 10.24

SAR 10.05 QAR 6.35

CBKCommercial Bank of Kuwait

PB1.46

46

1,164

Trailing

18,398 37,413

9.10 OMRSAR 0.703

430 Dar Al Arkan Real Estate Dev. Co. KCB Al Khaliji Commercial Bank

PE 14.19

19

-

PE

SAR5.60 10.70 SAR

703Galfar Zain -Engineering Saudi Arabia GEC & Contracting

102,560

99

328

-3.3%

-0.5%

18 305

1,572

5,044

1,425

2.4%

267 718

4,224

10,785

1.2%

249

3,587

12,800

1,033

Mkt. Cap. USD million

Mkt.384,506 Cap. USD million

6,416 5,860

2,903

8.5%

Turnover USD million

Turnover 3,537 USD million

1,301 316

12,109

2.5%

525,763 Wk Low

1,754 787

5,628

0.0%

52 Wk Low

% Chg.

AED 1.32% Chg. 14.8% Close

422Kingdom Emaar the Economic City 3 428 Hldg.

Co.

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

Close

4 TAMTamweel

Abu Dhabi Abu Dhabi

105

Bahrain

Palestine Palestine

Return DailyDaily Return (%)(%)

Dubai

2%

Dubai Dubai

105

100

1%

Qatar

110

Saudi Saudi

111

110

4%

Qatar Oman

110

Oman Kuwait

110

Kuwait Jordan

113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Jordan Egypt

115115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

573,300,638

1 Alinma Bank

Close

78.00

% Chg.

31.70

51.00

1050.SSE Banque Saudi Fransi

45.50

7020.SSE Etihad Etisalat Co.

62.75

-3.4% -1.3% -1.0% -0.9% -0.8%

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

1 Alinma Bank 2 Almarai Co.

1 Arab National Bank 1 Bank AlBilad

Close 78.00

-0.8%

31.80

-0.3%

4 Jarir Marketing Co.

4 Kingdom Holding Co.

2 National Industrialization Co.

2 Rabigh Refining & Petrochemical Co.

1 Riyad Bank

1 Samba Financial Grp.

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

78.75

12.85

Low

Turnover (SAR '000)

77.50

228,169

12.65

573,301

31.50

2,681

105.50

104.75

0.0%

26.30

25.80

15,711

45.50

-0.9%

46.10

45.30

3,155

10.70

9.7%

26.20

10.05

4 Jabal Omar Development Co.

High

0.2%

105.25

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

Daily

9,849

24.40

4 Emaar the Economic City

-3.4%

12.75

1 Bank Al Jazira

1 Banque Saudi Fransi

% Chg.

62.75

16.40

0.6% 6.9%

-0.8%

0.9%

32.10

24.50

10.10

10.70

63.75

16.65

24.05

17,562

9.25

1,488,606

62.25

49,614

16,429

188.00

186.00

33.90

-1.0%

1.5%

52.00

34.60

19,260

101.50

-0.3%

102.50

101.00

604,349

14.60

1.4%

14.65

14.45

296,749

22.85

46,038

18.95

3,955

96.25

31.70

23.00

22.50

3.5%

-1.3% -0.2%

22.40

1.8%

17.40

17.00

332,502

33.80

33.10

9,677

46.00

4,884

-0.3%

46.30

55.75

51.50 9.10

7,786

22.70

38.80

101.50

23.30

31.50

0.0%

-0.5%

33.70

32.20

53,249

19.05

17.40

96.50

0.9%

19.15

38.90

38.50

27,786

1.8%

101.50

98.00

2,415

0.0%

56.00

55.25

41,453

8.25

958,714

0.0%

0.5%

9.6%

46.50

52.00 9.10

151,070

93.00

-0.1%

51.00

8.1%

165,618

8,935

187.00

-9.0%

33.20

25.90

24.75

37.50

10,552

26.10

0.4%

50.00

50.75

0.0%

24.55

50.75

43,221

24,207,500

69

722

54,581

25.90

17.6%

36.4%

50.6%

67,483 787

24.55 9.70

9.75

63.25

15.75 6.05

5.90

46.00

1.2

36.4%

43,925,000

22.1%

21,505,800

42.40

-10.1%

21.85

1.5%

34.0%

55.1%

3.5%

33.7%

96.0%

-2.8%

6.4%

16.5%

5,947

112.50

20,409

14.75

56.75

33.40

17.30

-15.4%

15.55

-22.6%

33.00

-1.3%

23.20

17.75

19,344

19.15

15.50

289

33.50

24.60

39.30

24

100.25

743

83.25

46.50

53.25 8.35

6.3%

-1.0%

25.70

27.20

-3.0%

12.85

32.60

23.70

59.50

36.00

5.6%

11.2%

-9.8%

49.10

5.7%

-2.3%

87.75

93.00

2,364

110,179

nmf

-17.6%

162.25

841

9,095,000

10,854,000

20.10

29.80

192.75

106

78.3%

29.7%

41,505,882

-4.7%

9.4%

5.5%

5.0%

21.1%

1.6

1.7

49.3%

28.82

3.6

11.3

7,320,000

26.6%

6.5%

12.4

1.2

32,906,251

-1.8%

1.1%

21.2

3.6

16.7%

49.2%

7.05

85.50

103

716

19.5%

44.3

PB

2.3

11.40

22.20

208

-0.8%

45.6%

15.9

24.0

15,242,160

26.50

2,000

38.6%

9.7%

Trailing

PE

7,860,000

29.7%

343

246

3.6%

27,030,000

35.0%

45.10

173

44.0%

14.2%

-0.3%

971

4,895

-0.6%

15.6%

11.10

146.67

206

-9.6%

19,125,000

16.45

100

2,230

26.60

6.3%

117,000,000

32.0%

24.25

41,884

36.4%

Market Cap. (SAR '000)

10.2%

-3.7%

35.18

-0.5%

12.2%

12 mths

16.95

2,955

42.90

-1.2%

YTD

27.20

32,872

43.30

9.05

-3.4%

% Change

603

10.95

-0.2%

12.90

67.25

on high

83.75

6,528

43.00

80.75

Low

105.75

84

107,468

146.00

11.25

52-Week

High

94

16.10

149.50

1.4%

44,890

703,961

1.9%

11.20

2,925

9.65

14,752

148.25

Volume ('000)

70.7%

49.2%

16.7% 5.4%

15.3%

nmf

10.0 8.6

nmf

8,895,000

17.3

23,969,424

9.8

38,850,000

45,900,000

46,750,000

31,357,500

9.1%

304,500,000

10.6%

60,832,270

nmf

nmf

12.3

10.7

11.4 nmf

10.4

1.6 0.7

2.4

1.7 9.8

1.6

2.2

2.7

1.3

1.6

5.7

1.8

2.2

14,726,250

17.7

4.5

10,484,775

10.3

1.4

31.8%

10,350,000

-5.0%

10,477,500

8.7%

77,600,000

27.4

19.6

1.2

1.7

-3.0%

14.2%

25.0%

-9.1%

0.0%

11.9%

0.6%

17.4%

41.6%

16,850,000

14.1

2.2

-0.4%

13.8%

28.6%

34,725,000

12.0

2.0

1.2%

18.0%

14.8%

18.0%

68.5%

8,250,000

11.7

1.5

26,100,000

nmf

1.7

14,210,000

14.8

10.2

15.9

1.2 1.7

5.4

46.90

-33.0%

-20.4%

18.9%

11,289,375

15.4

3.3

5.25

9.0%

64.0%

52.9%

12,740,000

nmf

3.0

41.50

-3.3%

17.0%

24.1%

28,968,750

9.1

2.8

STOCKS WITH NBK CAPITAL

13

ALWATAN DAILY tuesday, march 6, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,201 (0.2%)

KSE General Index (% Chg.)

115

416 (0.6%)

KSE Weighted Index (% Chg.)

53%

% of stocks trading above 1yr avg. price KSE General Index 52 week High / Low

Kuwait International Bank

Highest Turnover

95 5-Dec-11

5-Jan-12

5-Feb-12

4.0%

0.315

3.3%

3.7%

0.900

2.3%

Worst Performers Turnover (KWD) 3,615,000

Zain Kuwait ZA

5-Mar-12

S&P GCC Large/Mid Composite

5.6%

0.260

28,562,886

Market Cap. (KWD '000)

100

% Chg.

0.112

69,471

Turnover (KWD '000)

100

0.750

467 / 396 PCEM.KSE Kuwait Portland Cement Co.

KSE Weighted Index 52 week High / Low 105

KIB.KSE

Close

Commercial Bank of Kuwait

1.63 AREFENRGAREF Energy Holding Co. 6,523 / 5,694 ALAFCO.KSAlafco Aviation Lease and Fin. Co.

Advance/Decline Ratio

110

110

CBK.KSE

K Kuwait International Bank

3,205,650

K Kuwait Finance House

2,789,200

N National Bank of Kuwait

3,030,900

N National Industries Grp. Holding

2,380,000

Close

ABAR.KSE Burgan Co. for Well Drilling

0.255

FOOD.KSE Kuwait Food Co. IFC.KSE

International Finance Co.

% Chg.

-7.3%

1.440

-4.0%

0.240

-2.4%

0.110

NIND.KSE National Industries Grp. Holding IKARUS.KSIkarus Petroleum Industries Co.

-3.5%

0.176

-2.2%

KSE Weighted Index

Quotes Company Name

Close

A Agility

0.430

T Al Themar Intl. Holding Co.

0.087

A AREF Energy Holding Co.

0.112

A Al Ahli Bank of Kuwait

0.0%

0.650

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

B Boubyan Petrochemical Co.

Daily

% Chg.

0.0% -

0.560

0.550

490

0.750

5.6%

0.049

-

1.520 0.265

0.085

-21.1%

185

0.620

0.480

-3.2%

0.620

0.560

-21.9%

0.265

3

10

0.750

0.750

-

-

0.265

4

-

0.440

13

-3.5%

0.112

0.110

143

-

JAJazeera Airways

0.475

0.0% -

-

-

-

0.178

0.176

0.480

0.470

-

-

-

-

-

5

-

146,879

18.4

4.0

142,242

13.0

4.3%

1,216,236

39.7

2.8

nmf

4.3

-45.7%

53,454

-32.9%

1.9%

-28.4%

30

0.500

0.285

-9.0%

-4.2%

-10.8%

206,516

1,280

0.285

0.096

-61.4%

7.8%

-56.9%

88,317

-

0.315

0.236

-22.5%

0.0%

1.700

180

0.180

140

-

1.380

0.132

0.480

-

0.112

0.630

0.415

-16.5% -2.2%

-1.0%

-33.3%

0.0% 3.5%

4.4%

-8.7%

-5.3%

298,102

29.4%

309.5% -22.5%

1.2

26.2

1.0

nmf

1.8

0.9

nmf

3.1

8.2

1.7

132,000

13.7

0.9

104,500

9.2

4.3

nmf

64,246

-33.2%

1.2

267,815

0.8

nmf

0.8

19.4

1.9

1.100

0.820

-22.7%

-5.6%

-13.4%

2,285,685

38.0

1.3

4.0%

0.265

0.255

3,206

12,410

0.350

0.236

-25.7%

2.0%

-7.1%

269,705

22.9

1.3

1.5%

0.345

0.335

157

460

0.425

1.440

1.440

0.910

0.900

126

0.930

460

3

1.620

140

26.8%

-37.3%

0.940

0.564

-1.1%

8.1%

67.6%

0.0%

0.156

0.150

754

4,940

0.212

0.0%

0.214

0.210

157

740

0.132

236

0.0%

-

0.176

0.270

830

0.265

8

1.0%

0.212

0.212

0.232

-0.9%

0.232

0.232

0.130

-

0.0%

0.138

-

0.170

0.212

0.092

1,484

1.0%

2.040

2.020

233

0.0%

-

0.860

0.850

18.8%

0.226

0.172

0.265

-25.0%

-10.0%

0.200

-11.7%

1.9%

0.216

-14.1%

0.9%

1,760

0.146

0.093

15,840

0.092

0.067

115

2.060

1.600

0.270

-

3,615

-

4,205

-

1.420

0.840

26.4

3.6

0.2%

4,828,425

15.9

2.2

-3.2%

310,824

nmf

-41.7%

-9.5%

-6.2%

516,732

0.0%

0.056

-46.3%

1.3

-22.4%

0.168

0.158

-0.9%

2.0

13.9

5.4%

-7.7%

-16.9%

12.1

81,814

-49.2%

-15.8%

0.260

578,883

-2.0%

0.0%

0.192

0.240

40

-45.0%

13.1%

8.9%

0.360

20

-18.8%

-3.2%

0.320

30

-

0.033

0.355

4,800

9

0.096

0.060

-

4

0.0%

-

-

4.3%

-43.0%

0.295

0.152

-

-

-2.7%

0.660

N National Real Estate Co.

-

-11.1%

1.580

0.285

-

495

1.340

9,880

1.2%

0.940

4

2,380

-

0.860

-15.6%

-4.9%

0.238

Z Zain Kuwait

1.5

1.0

3,320

-

2.040

13.5

-16.4%

0.246

N Wataniya

684,200

11.8

0.470

-2.4%

0.092

12.3%

291,060

64,309

0.240

S The Securities House

4.2

22.4%

nmf

11.4%

N National Industries Grp. Holding

A The Commercial Real Estate Co.

nmf

nmf

84,000

0.0%

1.000

0.136

979,012

7.7%

-10.9%

1.260

T Tamdeen Real Estate Co.

-1.8%

0.019

2,525

S Sultan Center Food Products Co.

1.6

0.055

3,031

S Salhia Real Estate Co.

6.2

88,088

2,789

2.3%

0.270

245,628

954,017

1.200

A Qurain Petrochemicals Industries Co.

-4.5%

-13.0%

-19.4%

1.220

O Oula Fuel Marketing Co.

1.9

0.830

0.900

0.172

-3.8%

0.5

18.6

-5.1%

1.7%

N National Investments Company

20.3%

PB

0.850

-4.0%

0.295

-39.3%

nmf

936,767

-21.9%

0.255

1.220

N National Industries Co.

7.1%

PE

1.2%

1.440

0.033

5.7%

0.0%

0.710

0.395

-1.1%

N National Bank of Kuwait

0.0%

450,140

0.960

0.930

M Mena Holding

-4.4%

32.3%

0.580

32

-

-1.5%

Trailing

Market Cap. (KWD '000)

12 mths

1,300 -

66

0.198

14.7%

-2.1%

1.300

0.420

YTD

-5.1%

1.945

10

% Change

-9.7%

43

3

0.455

0.345

0.142

885

65

0.255

0.0%

K Kuwait Projects Co. (Holding)

1,360

1.520

0.255

0.455

0.260

-16.3%

-17.1%

1.520

627

K Kuwait International Bank

0.280

0.0%

0.480

0.420

0.079

0.380

-15.5%

0.485

0.850

0.104

680

-5.8%

0.410

1.0%

K Kuwait Finance House

-

0.610

0.550

1.9%

0.244

0.690

-1.1%

250

-2.2%

M Mabanee Co.

112

0.485

0.110

160

0.248

115

0.176

P Kuwait Portland Cement Co.

0.600

0.435

on high

0.460

IK Ikarus Petroleum Industries Co.

F Kuwait Food Co.

151

Low

0.465

1.420

K Kuwait Cement Co.

0.610

0.108

High

0.0%

C Gulf Cable and Electrical Industries Co.

K KIPCO Asset Management Co.

0.112

2,020

-

0.0%

3.7%

C Commercial Bank of Kuwait

IF International Finance Co.

-

0.560

-7.3%

IF IFA Hotels & Resorts

103 208

0.255

G Gulf Bank

-

0.640

0.305

A Burgan Co. for Well Drilling

G Global Investment House

0.650

52-Week

Volume ('000)

868

0.315

0.465

F Commercial Facilities Co.

0.425

Turnover (KWD '000)

3.3%

-1.6%

C Combined Grp Contracting Co.

0.435

Low

0.315

0.600

B Burgan Bank

High

439,160 21,780

102,112

11.7 2.3

1.3

0.8

nmf

0.8

nmf

-

-2.5%

0.1

35.6

150,709

52.0%

0.8

0.6

89,019

24.5

-11.7%

108,697

21.0

0.9

2.7%

86,564

17.5

0.9

26.2%

233,200

13.3%

0.0%

19.5%

43.8%

168,803

19.6

0.7

-1.0%

5.2%

27.5%

1,028,227

2.8

1.3

-39.4%

0.0%

-4.4%

78,721

1.1

-6.8%

0.0%

0.0%

2.1

12.9

0.0%

88,400

-35.8%

3,704,480

nmf

1.2

nmf

7.0

13.0

1.8

UAE Rebased Performance

Summary

Best Performers 1,754 (0.0%)

DFM Index (% Chg.)

130 125

125

2,625 (-0.6%)

ADSM Index (% Chg.)

Advance/Decline Ratio

DFM Index 52 week High / Low

110

110

105

106

Highest Turnover

E Emaar Properties 5-Jan-12 S&P GCC Large/Mid Composite

5-Feb-12 Abu Dhabi SE

43,247,097

A ALDAR Properties

5-Mar-12

0.8%

3.50

Turnover (AED) 189,502,638 DEYAAR.D Deyaar Development Co. 96,129,328 TAQA.ADS Abu Dhabi National Energy Co. 86,917,478 EMAAR.DF Emaar Properties

TATamweel

90 5-Dec-11

1.27

0.0%

Worst Performers

D Dubai Financial Market

95

4.2%

4.0%

418,174,040

Market Cap. (AED '000)

100

14.8%

2.10

1,167,230

Turnover (AED '000)

% Chg.

1.24

2,775 / 2,293 ADIB.ADSM Abu Dhabi Islamic Bank

ADSM Index 52 week High / Low

115

1.32

86% DFM.DFM Dubai Financial Market 0.21 ADNH.ADS Abu Dhabi National Hotels 1,754 / 1,301 ALDAR.AD ALDAR Properties

% of stocks trading above 1yr avg. price

120

Close

TAMWEEL Tamweel

36,323,115

A Arabtec Holding

Close

0.44

% Chg.

1.26

UNB.ADSM Union National Bank

3.05

-2.2%

3.50

-2.0%

3.15

ARTC.DFM Arabtec Holding

-4.4%

-2.3%

-0.6%

Dubai FM

Quotes Company Name

Close

Daily

% Chg.

A Abu Dhabi Commercial Bank

3.27

T Abu Dhabi National Energy Co.

1.26

-2.3%

A Air Arabia

0.75

-0.5%

1.02

-

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

3.50

2.10

3.39

0.51

3.18

-0.9%

0.84

1.41

11.50 4.10 1.81

1.22

43,247

3.62

3.46

36,323

1.15

1.13

433

-

1.93

3.39

0.52

0.46

3.28

-

-

1.89

4,935

3.39

146

0.50

0.44

3.16

8,692

25,075 22,037

189,503

0.0%

2.25

2.19

12,991

-0.9%

3.30

3.20

-0.2%

-1.9% -

-

-0.9% -

3.14

9.44

0.7

0.0%

1,530,000

nmf

5,188,114

10,305

3.63

0.95

-3.6%

120.1%

277.2%

5,232,500

37.9

379

1.77

0.71

-35.6%

12.9%

8.6%

1,995,000

nmf

0.34

-28.2%

2,576 43

16,913

56,293 6,870

147,225 5,855

1.96

3.45

0.71

0.46

3.30

1.46

2.31

1.60

2.90 0.20

2.80

0.68

1.88

-2.0%

-1.7%

-4.4%

-3.6%

-15.1% -3.9%

6.7%

16.9%

13.3%

104.2% 10.0%

47.6%

14.4%

20.8%

2,811,072

11.1%

6,580,965

107.1%

2,513,430

12.8%

14,537,143

-10.5%

11.7% 9.9%

3,367,021

9,920,000

8,429,460

13.3

0.7

1.1

1.9

1.5

1.2

8.0

1.0

nmf

0.6

8.1

9.3

nmf

8.3

0.4

2.5

1.3 0.9

8.64

-18.2%

2.1%

-13.3%

73,685,225

12.6

1.9

98.6%

15.6%

1,157,747

nmf

-

-

11.45

7,834

-

-

334

0.49

-1.0%

0.47

23,322

-

8.1

13.0

11.40

96,129

-

0.0%

0.3

3,504,692

1,074

449

1.21

3.85

0.0%

12.7

-2.1%

10,018

1.32

U United Arab Bank

-2.3%

1.3

1.1

9.25

14.8%

0.52

38.0%

2,100,000

5.0

0.8

0.6

-

3.20

-22.2%

28.2%

7.2

PB

10.4

1.32

-0.6%

7,843,500

8,276,471

6.0

18,578,277

1.00

3.15

-

-10.6%

15.1%

-4.5%

-10.3% -24.4%

18,297,603

26.6%

-

1.33

0.76

-28.8%

5.0%

52.1%

PE

18.7%

1.01

-0.8%

-

2.02

0.57

-22.7%

10.8%

Trailing

Market Cap. (AED '000)

-12.6%

-2.0%

1.28

-

1.68

1.14

-1.4%

17.6%

12 mths

2.41

-

-

34,180

2.95

2.92

-1.5%

YTD

3.49

16,394

-

222

3.55

2.20

% Change

28,208

20.90

11.60

1,078

3.32

on high

86,917

21.35 -

879

Low

3.03

1.00

U Union National Bank

* Closing Prices, Turnover and Market Cap. in USD

23,663

465

1.22

9.32

91.45

U Union Properties

17,994

2.10

3,769

1.34

-2.2%

M Mashreq

T Tamweel

0.75

3.48

4.2%

3.05

21.10

S Sorouh Real Estate Co.

-1.9%

-4.4%

F First Gulf Bank

S Sharjah Islamic Bank

-0.3%

0.44

3.27

N National Bank of Umm Al Qaiwain

0.78

-0.9%

E Emirates NBD

N National Bank of Fujairah

1.63

1.14

2.22

N National Bank of Abu Dhabi

1,540

-2.0%

D Dubai Islamic Bank

G Gulf Cement Co.

1,941

3.50

-1.0%

52-Week

High

1.23

1.31

1.92

Volume ('000)

1.28

3.50

0.8%

1.27

Turnover (AED '000) 2,878

2.10

1.24

E Etisalat

0.0%

Low

3.27

3.29

4.0%

D Dubai Financial Market

E Emaar Properties

-1.5%

High

1.22

29,662

3.13

2,139

-

-

139

776

4.63

2.65

21.50

13.95

-

102.00

-

-

680 -

332

-29.4%

-1.9%

36.6%

74.70

-10.3%

-9.9%

4.70

2.91

-12.8%

-9.9%

1.02

0.80

-2.0%

19.0%

1.56

11.90 2.39

0.67 9.33

1.63

-9.6%

-3.4%

-24.3%

23,259

1.54

0.67

-16.9%

679

3.90

2.82

-19.2%

3.28

-27.4%

74,914 46,810 -

11.2%

1.15

0.50 5.30

0.53

0.24

5.0%

8.3%

40.7%

22.4%

18,173,923

31,650,000 -

23.8%

33,005,498

0.0%

-16.8%

2,896,000

50.6%

26.7%

-5.7%

11.1%

14.8%

118.9%

33.3%

-1.0%

89.9%

93.7%

9.0%

5.8%

11.4%

-31.9%

7.2

8.5

18.8 8.9

0.5

1.2

0.9

1.3

1.3

4,510,000

16.1

2.2

2,425,500

9.7

0.6

9.0

3,360,000

10.0

7,861,219

5.2

1,320,000

1,649,760

3,836,145

13.0 nmf

11.6

0.9 0.5 0.6 0.7

0.7

1.9

STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY tuesday, march 6, 2012

QATAR Rebased Performance

Summary

Best Performers 8,723 (-0.2%)

DSM Index (% Chg.)

115

Advance/Decline Ratio

17.50

8,892 / 7,682 IQCD.DSM Industries Qatar 382,614 QGTS.DSMQatar Gas Transport Co.

DSM 52 week High / Low

110

110

Close

56% KCBK.DSMAl Khalij Commercial Bank 0.75 QTEL.DSM Qatar Telecom

% of stocks trading above 1yr avg. price

Turnover (QAR '000)

454,807,911

Market Cap. (QAR '000)

% Chg.

2.6%

167.00

1.3%

17.55

0.9%

143.10

QNBK.DSMQatar National Bank

1.2%

134.20

0.2%

105

Highest Turnover 100

99

Worst Performers Turnover (QAR) 78,864,549 BRES.DSMBarwa Real Estate Co. 52,574,899 DHBK.DSMDoha Bank

B Barwa Real Estate Co. IQIndustries Qatar

32,634,709

Q Qatar Gas Transport Co. 95 5-Dec-11

5-Jan-12

5-Feb-12

S&P GCC Large/Mid Composite

28,515,993

Q Qatar Telecom

5-Mar-12

23,454,821

MMasraf Al Rayan

Close

28.90

% Chg.

-5.4%

60.50

QNNS.DSMQatar Navigation VFQS.DSM Vodafone Qatar

-1.6%

72.80

-1.6%

146.10

-0.6%

7.29

QEWS.DSMQatar Electricity & Water Co.

-0.7%

Doha SM

Quotes Company Name

Close

A Aamal Co.

15.52

Daily

% Chg.

-0.3%

Low

15.60

C The Commercial Bank of Qatar

76.60

-0.4%

77.00

76.00

5,240

E Ezdan Real Estate Co.

19.00

0.0%

19.00

19.00

38

28.90

D Doha Bank

60.50

-5.4% -1.6%

17.80

16.96

29.50 62.00

28.85

78,865

60.50

7,091

IQIndustries Qatar

143.10

1.2%

143.30

141.40

52,575

Q Qatar Electricity & Water Co.

146.10

-0.6%

146.30

146.00

4,795

M Masraf Al Rayan

26.55

Q Qatar Gas Transport Co.

17.55

Q Qatar International Islamic Bank

55.30

Q Qatar Islamic Bank

-

-0.1%

72.80

-1.6%

7.29

-0.7%

134.20

Q Qatar Telecom

167.00

V Vodafone Qatar

0.9%

78.00

Q Qatar National Bank Q Qatar Navigation

0.2%

26.60

17.61 -

26.30

23,455

17.40

32,635

77.70

6,038

0.2%

134.20

133.70

20,709

1.3%

173.00

166.60

28,516

73.60 7.34

85.50

67.00

-3.5%

-9.7%

7,682,400

5.5%

11,245,702

-3.8%

-8.8%

18.8%

-5.6%

6,300,000

32.7%

PE

14.3

1.2

7.2

10.1 nmf

12,505,217

1.4

12.9

18,954,392

PB

1.0

1.3

10.1

1.8

50,397,437

20.20

-5.5%

-4.7%

34.5%

19,912,500

14.1

16.59

-10.4%

0.2%

9,719,962

12.3

8.0

76.30

-8.6%

-7.5%

3.2%

18,430,870

13.5

1.6

69.90

-22.8%

-4.8%

-17.4%

8,337,435

15.5

0.8

7.24

-10.2%

-3.4%

-0.3%

6,162,966

nmf

0.9

56.20

44.90

155

141.73

109.59

169

167.00

118.50

8.12

1.9%

12 mths

-15.6%

85.30 94.30

-2.4%

Trailing

-14.4%

77

19.58

YTD

Market Cap. (QAR '000)

-23.9%

125.50

28.10

-9.7%

% Change

18.60

153.50

345

-10.4%

46.15

24.97

33

85

-19.5%

68.00

118.80

-

-8.6%

28.10

148.50

1,866

-35.6%

16.40

368

886

on high

15.40

35.90

116 2

Low

19.15

69

2,512

7.25

24.09

2,708

6,217

72.80

High

534

-

-

78.70

15

9,256

17.50

52-Week

Volume ('000)

231

15.52

K Al Khalij Commercial Bank B Barwa Real Estate Co.

2.6%

High

Turnover (QAR '000)

-3.6%

-4.8%

-1.6%

-5.3%

0.0%

7.6% 4.7%

2.4%

-2.9%

18.6%

22.3%

78,705,000

22.6%

14,610,000

6.9%

26.0%

8,370,692

24.5%

93,903,691

41.1%

29,392,000

1.8

9.9

3.0

2.3

11.2

4.8

12.8

1.7

12.5

2.2

12.1

1.4

OMAN Rebased Performance

Summary

Best Performers 5,869 (0.4%)

MSM Index (% Chg.)

115

47% BKDB.MSMBank Dhofar

% of stocks trading above 1yr avg. price

2.50

Advance/Decline Ratio Turnover (OMR '000)

105

7,083,063

Market Cap (OMR '000)

106

468,548

R Renaissance Services 5-Feb-12

S&P GCC Large/Mid Composite

310,190

O Oman Cement Co.

5-Mar-12

1.6%

0.88

0.9%

0.32

0.3%

1.41

Turnover (OMR) 563,679 RNSS.MSMRenaissance Services 560,254 BKMB.MSMBank Muscat

O Oman Telecommunications Co.

5-Jan-12

1.7%

0.1%

Worst Performers

B Bank Muscat

95 5-Dec-11

% Chg.

0.51

OTEL.MSMOman Telecommunications Co.

Highest Turnover 100

0.55

OCOI.MSM Oman Cement Co.

6,416 / 5,419 RCCI.MSM Raysut Cement Co. 6,944 NBOB.MSMNational Bank of Oman

MSM 52 week High / Low

110

110

Close

175,099

N National Bank of Oman

Close

0.61

% Chg.

-1.8%

0.74

OTEL.MSMOman Telecommunications Co.

1.41

RCCI.MSM Raysut Cement Co.

0.88

NBOB.MSMNational Bank of Oman

-0.1%

0.1%

0.32

0.3%

0.9%

Muscat SM

Quotes Company Name

Close

B Bank Dhofar

0.550

N National Bank of Oman

0.318

O Oman Telecommunications Co.

1.406

R Renaissance Services

0.609

B Bank Muscat

O Oman Cement Co.

R Raysut Cement Co.

Daily

% Chg.

1.7%

0.736

-0.1%

0.509

1.6%

0.878

High

Turnover (OMR '000)

Low

0.550

0.550

0.739

0.332

0.302

399

1.407

1.041

0.316

175

0.1%

1.409

1.404

560

0.605

469

-1.8%

0.880

0.615

Low

551

0.320

0.9%

High

78

564

0.733

52-Week

43

0.3%

0.512

Volume ('000)

0.502

310

0.871

65

0.680

766

0.781

609 75

-19.1%

0.658

0.608 1.190

770

on high

0.509

1.197

-5.8%

-4.2%

% Change YTD

0.5%

-3.9%

-0.6%

12 mths

-17.7%

4.2%

PB

2.3

9.7

1.3

17.4%

1,054,500

9.4

2.1

-39.6%

171,796

12.7

1.0

0.711

-26.2%

15.5%

-22.8%

11.7%

13.1

1.2

-11.0%

-49.1%

PE

10.1

17.8%

0.458

1,139,607

Trailing

343,758

-16.3%

7.4%

503,381

-0.3%

0.416

-0.1%

Market Cap. (OMR '000)

168,414 175,600

13.2

1.1

11.7

1.7

BAHRAIN Rebased Performance

Summary

Best Performers 1,152 (0.4%)

BSE Index (% Chg.)

115

32% BATELCO.BBahrain Telecommunications Co. 1.00 NBB.BSE National Bank of Bahrain

% of stocks trading above 1 yr avg. price

Advance/Decline Ratio 110

110

1,433 / 1,129 AUB.BSE 1,650 #N/A

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

6,507,913

Market Cap. (BHD '000)

#N/A

Ahli United Bank #N/A

Close

0.40

% Chg.

2.6%

0.57

0.0%

0.67

-1.5%

#N/A

#N/A

#N/A

#N/A

#N/A

105

Highest Turnover 100

99

Worst Performers Turnover (BHD) 1,337,765 AUB.BSE 164,445 NBB.BSE

A Ahli United Bank

N National Bank of Bahrain

134,101

B Bahrain Telecommunications Co.

95 5-Dec-11

5-Jan-12

5-Feb-12

B Albaraka Banking Grp.

5-Mar-12

S&P GCC Large/Mid Composite

#

#N/A

#N/A

-

Close

Ahli United Bank

0.67

National Bank of Bahrain

BATELCO.BBahrain Telecommunications Co.

BARKA.BS Albaraka Banking Grp. #N/A

#N/A

% Chg.

0.57

0.40

1.06 #N/A

-1.5%

0.0%

2.6% #N/A

Bahrain SE

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

1.060 0.082

Daily

% Chg.

-1.5% -

0.400

2.6%

797

-

0.412 0.090

0.570

0.304

-

0.0% -

High

0.675 -

Low

0.670

3,548

-

-

-

-

-

-

0.400

0.392

-

-

-

0.570 -

Turnover (BHD '000)

134

-

-

-

-

0.570 -

164 -

Volume ('000) 5,281

52-Week

High

0.770

-

1.280

-

0.116

339 -

-

-

289 -

0.570 0.492 0.436

1,139

Low

0.660

-13.0%

YTD

0.8%

12 mths

3,339,507

-26.3%

1,306,200

-11.1%

576,000

-17.2%

-2.8%

-16.7%

0.082

-29.3%

-8.9%

-30.5%

-5.5%

-0.5%

-21.7%

38.5%

-28.3%

1.3%

0.420 0.380 0.390 797

0.065

0.424

0.270

0.560

-26.3% -18.7%

-30.0%

-18.6%

0.0% 2.0%

0.0%

-0.9%

Market Cap. (BHD '000)

6.3%

1.000

0.115

0.700

on high

% Change

921,723

Trailing

PE

10.8 7.8 6.4

77,053

nmf

-8.4%

350,759

11.0

-21.7%

240,999

nmf

-25.9%

253,707

-37.0%

-12.3%

637,560 487,555

7.2

PB

1.3

0.8 0.4

0.8

1.1

1.5

4.5

0.6

10.7

1.8

nmf

0.4

1.2

LIFE

Dealing with dry mouth

Dry mouth is more than just uncomfortable. A lack of saliva to moisten your mouth also can lead to tooth damage, the American Dental Association warns.

The association offers these suggestions for people with dry mouth: Chew sugarfree gum. Suck on sugar-free hard candies. Use an oral rinse. Use an artificial saliva solution. Speak with your dentist first. Discuss with your doctor or dentist any medications you are taking that could be causing dry mouth.

TUESDAY, march 6, 2012

Robotic surgeries cost more, but safer LONDON: Patients who have robot-assisted surgeries on their kidneys or prostate have shorter hospital stays and a lower risk of having a blood transfusion or dying -- but the bill is significantly higher, a study found.The analysis, which appeared in the Journal of Urology, compared increasingly common robotic surgery with two other techniques for the same surgery and found that direct costs can be up to several thousand dollars higher for the robotic type.

Touted as less invasive and more efficient, robotic surgeries typically use a laparoscopic or “keyhold surgery” approach, in which tools and a tiny video camera are inserted into the body through one or two small incisions.

Robotic surgery replaces a surgeon’s hands with ultra-precise tools at the ends of mechanical arms, all operated by the surgeon from a console.

“I think the take home message is that robotic (surgery), looking at our study, had certain beneficial outcomes compared to open and laparoscopic procedures,” said study leader Jim Hu at Brigham and Women’s Hospital in Boston. Hu and his team analyzed surgery data from a national government database to see if the costlier robotic surgeries were cost effective with extra benefits over older techniques. During the last three months of 2008 -- the most recent data available that allowed a comparison among robotic, open and laparoscopic surgeries -- more than half of all prostate removals involved robot-assisted surgery.

About three percent of prostate patients had standard laparoscopic surgery and 44 percent had open surgery. Open and laparoscopic surgeries were still more common than robotic surgeries for kidney repairs and removals.

Among patients who had their prostate removed, none died from laparoscopic or robotic surgery, whereas two out of every 1,000 died after the open procedure.

About five percent of the men who had open surgery needed a blood transfusion, compared to less than two percent of men who had robot-assisted surgery. The open-surgery group also stayed in

FILE - A neurosurgery robot arm is demonstrated in Calgary, Alberta April 17, 2007. (Reuters)

the hospital about one day longer than the robotic group. The results were similar for people who had kidneys removed.

The trade-off was the cost, with robotic prostate removal costing about $10,000 on average, roughly $700 more than laparoscopic surgery and $1,100 more than open surgery.

For kidney removal, robotic surgery cost $13,900, which was $2,700 more than laparoscopic and $1,300 more than open surgery.

David Penson, a surgeon at Vanderbilt Univer-

sity Medical Center who was not part of the study, said more consideration should have been given to the state of patients afterwards. Emphasis should be lmited on procedure, he said, as opposed to surgical skill. “Years ago, this was thought to be the be-all-end-all operation, particularly with prostate surgery. We were going to get patients out of the hospital quicker, have better potency and incontinence outcomes,” he told Reuters Health. “And the reality of it is that... there are some benefits -- but not as much as we had hoped.” -Reuters

Women increasing role as science, tech innovators NEW YORK: Female entrepreneurs are flexing their intellectual muscles like never before, new research shows according to LiveScience.

A study by the National Women’s Business Council (NWBC) found the number of women awarded federal patents and trademarks, often considered an indicator of entrepreneurial activity, has soared in recent years.

In 2010, 18 percent of all patents went to women, compared with 14 percent a decade earlier and just 9 percent 20 years before.

The share of trademarks granted to women also increased dramatically, nearly doubling within a 30-year span. Women were granted fewer than 17 percent of all trademarks to individuals or sole proprietorships in 1980; that number rose to 33 percent in 2010.

“An increase in patent and trademark ownership may indicate growth in women-owned companies and help shed light on this under-examined topic,” said NWBC Chair Donna James. “Very little research has specifically studied women business owners and intellectual property.”

The study found a surging number of women obtaining patents in recent years. The largest was in 2010, when 22,984 patents were granted to women - a 35

percent jump from the year before.

Most of the women-owned patents came in the areas of chemistry, bio-affecting drugs, semiconductor device manufacturing and furnishings, but the largest increases came in data processing, surgery and electrical computers and digital processing systems.

Women earned more than 6,500 trademarks in 2010, a slight dip from the all-time high of 7,274 in 2008.The advertising, business, clothing, education and entertainment and miscellaneous services industries which includes scientific and technological services and design - saw the most female trademark activity.

The study is the first of its kind to explore the rates of women applying for and receiving patents and trademarks, mainly because federal applications do not ask for gender information.

For the study, researchers determined gender by using the name of the applicant. To accomplish that, they relied on multiple sources, including the US Census Bureau and the US Social Security Administration, which compiles a list of the 10,000 most common American names for men and women, and commercially available data of the most common names in Chinese, Japanese, Korean, Indian, Spanish, German and French.

Exotic monkey is extra sensitive to warming NEW YORK: Monkeys called wild drills, already an overhunted species, may see a dramatic population decline if their forest home dries out and vegetation becomes sparser amid warming temperatures, researchers report according to LiveScience.

Closely related to baboons and mandrills, endangered wild drills (Mandrillus leucophaeus) are found in the African equatorial rainforest. Researchers studied DNA from 54 drill samples, most of which were poop collected in the Cross-Sanaga-Bioko Coastal forests that stretch across portions of Nigeria, Bioko Island (equatorial Guinea) and Cameroon.

Comparing monkey DNA sequences can tell researchers about their ancestors. If the ancestral population was small, there would be fewer genetic differences in the population, andgenetic sequences would be similar between two, even unrelated, individuals.

“Looking at its modern genetic diversity, you can infer changes in past population size,” study researcher Nelson Ting, a professor at the University of Oregon, said in a statement. They saw a clear population decrease in the drill’s genes. “The drills went through a large population collapse - as much as 15-fold.”

That evidence led them to the fossil and pollen records, looking for when this population collapse occurred. They found a drop in forest pollen (and by extension, a drop in forest habitats, the drill’s prime habitat) that “occurred sometime around the mid-Holocene, which was about 3,000 to 5,000 years ago,” Ting said.

At that time, temperatures across equatorial Africa were hotter and dryer and there was less forest cover. Today’s changing climate could have the same effects, which could spell disaster for the drill.

“We could see many of these equatorial forests becoming very arid. Forest will be lost as vegetation changes to adapt to dryer conditions,” Ting said.

Earth formed from diverse meteorite mix, study suggests

NEW YORK: Earth’s building blocks were more eclectic than once thought, according to a new study suggesting our planet formed from collisions of many different types of meteorites reports LiveScience.

Our planet is thought to have formed around 4.5 billion years ago from a disk of dust grains left over from the cloud of material that built our sun. These grains slowly clumped together, drawn by gravity into pebbles, then boulders, then planetary embryos. Eventually, enough mass coalesced to form the planet Earth.

Scientists had thought that most of the bodies that merged to make Earth formed from a narrow zone in space and were similar to each other, belonging to a subclass of meteorites called enstatite chondrites. This idea was based on measurements of numerous striking similarities between different types of atoms (called isotopes) of elements such as oxygen, nickel and chromium, between the Earth and enstatite chondrites.

But a new study of the silicon isotope signature of Earth rock samples and meteorites suggests that Earth is made of a more diverse mix of meteorites.

Geochemists Caroline Fitoussi and Bernard Bourdon of the Ecole Normale Supérieure de Lyon in France analyzed the silicon isotopes in terrestrial rock samples collected from diverse types of mantle rocks. They also analyzed lunar rock samples collected by NASA astronauts on moon missions. They compared these to meteorite samples, particularly enstatite chondrites and another type called enstatite achondrites. The measurements were done at the Swiss Federal Institute of Technology of Zurich in Switzerland.

Using computer models of Earth’s formation, the researchers calculated that a mix of three types of meteorite ingredients could have produced the right blend of oxygen, nickel, and chromium isotopes previously measured in Earth samples, as well as their new findings about silicon isotopes in terrestrial and meteorite samples. The results suggest that a mixture of chondrites, rather than enstatite chondrites alone, probably combined to create the Earth.

“This is the first time that a different composition in isotopes is observed for a major element between the enstatite chondrites and the Earth,” Fitoussi told LiveScience. “So that’s quite different from what has been observed before.”

The fact that the silicon isotope compositions measured were similar in both the Earth and moon rock samples suggests that the material that formed the moon must have mixed with the Earth’s mantle before the moon formed so that both bodies hold the same signature.

“That should tell us something about how the moon really formed and what are the constraints,” Caroline Fitoussi said.

The moon is thought to have resulted when a giant asteroid slammed into the Earth not long after our own planet’s birth. But the precise details of the process are still not well understood.

Strange lump of dark matter shouldn’t exist, but does WASHINGTON: A lonely clump of dark matter 2.4 billion light-years from Earth is confounding scientists by its mere presence, researchers say according to SPACE. Contrary to popular astronomy theories, the invisible stuff appears to have been left behind in space after a cluster of galaxies collided.

While the fundamental nature of invisible dark matter remains mysterious, scientists think they have a pretty good idea of how it behaves. For one thing, most galaxies are thought to reside inside larger masses of dark matter, and the two are thought to stay attached, even after cosmic collisions.

Yet this time, it appears the galaxies may have left their dark matter cocoons in the dust. “This result is a puzzle,” astronomer James Jee of the University of California, Davis, said in a statement. “Dark matter is not behaving as predicted, and it’s not obviously clear what is going on. Theories of galaxy formation and dark matter must explain what we are seeing.”

In the dark on dark matter

Dark matter has never been directly detected; it doesn’t reflect light or interact with normal matter except gravitationally.

Yet scientists think it dominates the universe, composing 98 percent of all matter in the cosmos. Lee led the team in 2008 that studied the clump of dark matter while using NASA’s Hubble Space Telescope to investigate the collision of a distant galaxy cluster. The observations were made to follow up on the initial detection of the lone dark matter clump in 2007, which was made by the Canadian Cluster Comparison Project using the Canada-France-Hawaii Telescope (CFHT) in Hawaii.

The Canadian Cluster Comparison Project results were not conclusive, so some scientists doubted the strange finding.

“The results were both intriguing and exciting but also engendered justified skepticism, the main criticism being that the clump of dark matter was an artifact of ground-based observations, though we confirmed the CFHT results using observations from the Japanese Subaru telescope,” said Arif Babul of the University of Victoria, who led the project. Now, the new Hubble observations seem to confirm that this clump was abandoned by the galaxies, which belong to a merging galaxy cluster called Abell 520. But astronomers still face the huge challenge of explaining why dark matter is not behaving as expected.

How to ‘see’ dark matter

To detect this outlier dark matter blob, astronomers couldn’t see it. Instead, they used a technique called gravitational lens-

FILE - A composite image of the merging galaxy cluster Abell 520 shows the distribution of dark matter, galaxies, and hot gas. (AFP)

ing, predicted by Einstein’s general theory of relativity, which describes how mass bends space and time around it.

That means that when light passes by a massive object - even dark matter - it will travel along a curved path. The researchers were able to calculate how much light from background galaxies was being bent as it traveled past the dark matter clump on its way to Earth. The observations indicate that dark matter and its interactions with normal matter are even more complicated than experts thought.

When social media makes you shy

FILE - A rare and endangered monkey in an African equatorial rainforest, the wild drill, may see a dramatic population decline if the forest dries out.

(Agencies)

“This type of animal, which already is very much endangered because of hunters, would not be able to deal with the level of climate changes that could be coming.”

NEW YORK: Social media doesn’t always make people more social. In fact, when it comes to making certain purchases, the mere presence of a social media icon - such as one representing Facebook or Twitter - will scare people off.

That’s according to research that found the presence of a Facebook “Like” button or a Twitter symbol on a shopping website increases the likelihood that consumers will buy some products and reduces the likelihood that they will buy others reports LiveScience. According to the study, consumers who saw a social media icon near a product that might embarrass them were significantly less likely to buy that product than those who saw the same product without the icon. On the other hand, consumers who viewed products they would be proud to show off were significantly more likely to buy than those who saw the same product with no such icon. Even more surprising, the icons had the effect even when the study participant didn’t recall seeing the icons.

The impact of the social media icons was significant.

When the product was one for which public consumption is desirable - sportswear or a desirable fragrance, for example the presence of the Facebook and Twitter icons made people

25 percent more likely to purchase. But when the product was more private in nature, such as Spanx or Clearasil, the icons suppressed purchase intentions, also by 25 percent.

“Our study finds that the mere presence of social media icons on a Web page where we shop appears to cause us to feel as if our purchases are being watched by our social network, and we adjust our buying decisions accordingly,” said Claudia Townsend, an assistant professor of marketing at the University of Miami School of Business Administration who conducted the research with David Neal, a researcher at market research firm Empirica Research. “Marketers should be aware that the placement of these symbols in their Web design strategy could have a major impact on buying behavior.”

The impact on intended buying behavior emerged regardless of whether people had any memory of having seen the social media icons. This suggests that these symbols have penetrated people’s unconscious processes and can influence decisions and behavior in ways that may bypass our awareness and ability to control, the researchers said.

For this study, nearly 200 consumers explored products in an online shopping context.

16

ALWATAN DAILY

CULTURE

tuesDAY, MARCH 6, 2012

FLCC celebrates 20th year anniversary

“Habanera Botolena” by members of Alpha Omega Church, a charming folkloric dance. (Al Watan Daily) Ricky Laxa Staff Writer

KUWAIT: The Filipino Language Christian Congregation in Kuwait celebrated its 20th year anniversary Friday afternoon with worship service and dance competition highlighting the traditional and ethnic Filipino dances.

Guest Pastor from the Great Commission Global Ministry in Qatar Celso Camat and Senior Pastor Bishop Dr. Sozimo Nones of FLCC Kuwait concelebrated the worship service.

The two hours worship service was attended by its mem-

bers from different areas in Kuwait belonging to different satellite churches followed shortly by lunch and the folkloric dance competitions. Host of the event and Chairperson of Program Committee of FLCC Jun Simbulan welcomed the guests and introduced the judges, which was headed by Senior Pastor/Bishop/Dr. Zosimo Nones, Assoc.

Pastor FLCC Kuwait Mayette Nones, Senior Pastor, The Great Commission Global Ministry, Qatar Celso Camat, Nurse at Primary Health Care Corp. Qatar Annabel Quiambao Camat, Pastor Logos - Kuwait Joffrey Bustamante, Journalist at Al Watan Daily News, TV Correspondent for

First prize winner “Surtido” with members of Fruitbearers Church and judges of the competition.

GMA 7 Philippines, Producer/Director of the Morning Talk (First Magazine Show on the web in Kuwait Ricky Laxa and Consultant of TFC Middle East, Correspondent ABS-CBN Maxxy Santiago.

Winners of the folk dance competitions were; Best in Costumes winners; Shekinah Church with Singkil on first place, Fruitbearers Church with Surtido bagging second place and Harvester Church with Sua Ku Sua landing on third place. Folk dance Category; Surtido won the First Place, Singkil on second and Sua Ku Sua on third. Other dances included Sakuting performed by More Than Con-

Gored Spanish bullfighter makes comeback OLIVENZA, Spain: A Spanish bullfighter who lost sight in one eye and has partial facial paralysis after a terrifying goring returned to the bullring Sunday, five months after his injury. On Oct. 8, a bull’s horn ripped into Juan Jose Padilla’s lower jaw and caused his left eyeball to protrude as spectators screamed in horror. Padilla was seen getting up shouting, “I can’t see, I can’t see anything,” his face gushing blood as assistants distracted the bull.

Now, wearing an eye patch and speaking with a lisp, Padilla fulfilled what he describes as an unquenchable desire to once again face massive 1,100-pound (500-kilogram) fighting bulls with the aid of only a cape and sword. The 38-year-old Padilla, the star attraction at the southwestern town of Olivenza’s annual taurine festival, said he was returning to the ring because of a need “to win, to triumph, to be a better man.” A capacity crowd of about 5,400 people, including die-hard connoisseurs, fashion models and well-known personalities, had packed into this town’s historic bullring, which was built in 1854.

The matador, who is also known by his professional name of “the Cyclone of Jerez,” wore a glittering matador’s “suit of lights” outfit that had been made for the occasion in gold braid and olive green, “for hope,” according to his tailor, Justo Algaba.

Stitching on the suit traced the shape of laurel leaves because “they were used to crown the brows of audacious combatants and great heroes,” Algaba said.

Padilla was greeted with loud cheers

Spanish bullfighter Juan Jose Padilla is carried out of the ring among jubilant crowd scenes on the shoulders of fellow bullfighter Serafin Marin, a honor for the best performers, after a bullfight at the southwestern Spanish town of Olivenza, Sunday, March 4, 2012. (AP)

and enthusiastic hand-clapping as he walked into the ring to the traditional “pasodoble” brass band music, before having two unaccompanied flamenco style “saeta” songs dedicated to him, an honor rarely accorded to bullfighters.

Despite lacking the two-eyed stereoscopic vision that allows people to judge distances and the speed of approaching objects accurately, Padilla had little trouble killing his first bull before dedicating the second beast to his tearful father, who embraced his son after the kill. Padilla was

PARIS: Equestrian styles dominated two major collections on day six of Paris fashion week, with horse-riding vestments - some comfortably elegant, some constrictingly racy - the motif explored by Hermes and Givenchy. The gaucho or Argentine cowboy inspired a cool and confident mix of clothes at the Hermes show, set in the Ecole des Beaux Arts in the heart of Paris’ Saint Germain area.

The location seemed to have rubbed off on the collection, with a graceful Left Bank chic softening the edge of ponchos, chaps and coats held like matador’s capes.

Givenchy’s Riccardo Tisci, meanwhile, turned on the horsepower for a pulse-quickening show complete with retro variations on jodphurs, riding jackets and racing boots.

In other collections, French designer Alexis Mabille revamped the school-girl bow ribbon, and Akris channelled the square silhouette - one of the defining looks this season. Monday’s ready-to-wear shows include Chloe and Yves Saint Laurent.

awarded one ear from each of his two kills.

The maximum accolade a matador can achieve is two ears and a tail for each bull slain. “He’s been looking forward so much to starting this new phase in his life,” his manager, Diego Robles, said. After slaying his final bull, Padilla was carried out of the ring among jubilant crowd scenes on the shoulders of fellow bullfighters who had shared the billing with him, a very rare salute. Celebrations commemorating Padilla’s successful return were expected to last well into the night in the rural town. -AP

querors Church, La Jota Moncadena by Faithful and True Church, Lawiswis Kawayan by Abundance Church, Pandango sa Ilaw by Cornerstone Church, Kuratsa by Agape Church and Habanera Botolena by Alpha and Omega Church “The idea of coming up with folkloric dance competition is in accordance with Philippines theme for tourism 2012, which is “It’s more fun in the Philippines” launched late last year.We thank God for His infinite blessings he continuously showers on FLCC and we extend our gratitude to those who have contributed in making this celebration a huge success,” concluded Pastor Nones.

Picasso painting worth $80 million up for sale in UK

LONDON: An important early work by Pablo Picasso painted when he was just 19 or 20 has been put up for sale by its aristocratic Welsh owners, and is estimated to be worth around 50 million pounds ($80 million).

The intention to sell “Child With a Dove”, a 1901 work which marked the beginning of the Spanish artist’s “blue period”, was posted on the website of the Arts Council England which has some say over whether important works of art are allowed to be sold abroad.

The painting, depicting a child holding a dove next to a colored ball, belongs to the Aberconway family, and was loaned to the Courtauld Gallery in London only last year, according to the Sunday Times, which first reported the intended sale. The Arts Council England estimated the work to be worth 50 million pounds, but added that the valuation was meant only as a rough guide.

Another painting by Picasso, “Nude, Green Leaves and Bust”, sold for $106.5 million in 2010, the auction record for any work of art.

Auctioneer Christie’s confirmed it had been instructed to find a buyer for a private sale, keeping the deal away from the attention an open auction would inevitably bring. Keeping the painting in Britain and on public display could prove difficult given the prohibitively high price and the fact that the National Gallery, one of the country’s most important collections, has run down its financial reserves in recent years.

The gallery announced last week that it had

Pablo Picasso’s painting “Child with a Dove.”

(Agencies)

used 25 million pounds of its legacy reserves – believed to be the majority of the total -- to help raise the 45 million pounds needed to purchase Titian’s “Diana and Callisto”. -Reuters

Equestrian styles on show in Paris fashion week

Hermes

In his third collection for Hermes, the house of the jet-setting fashion buyer, Christophe Lemaire flew business-class to Argentina. His first piece introduced gentle, hanging silhouettes: a long fringed cape in dark blue was worn like a South American poncho.

Wide, low-slung pleated gaucho pants mixed with sumptuous nude leathers - the house’s signature material - that were so soft, they moved as if they were living and breathing.

True enough: as the models walked past there was a distinct aroma of polished hide.

There were nods to the season’s musthave, the boxy-jacket, with one charcoal number reworked on a high white collar, in the style of Spanish equestrian garb.

But Hermes, in typical style, was all about comfort. The relaxed look was perfected with subtle contrasting pieces: a coat was so cool it hung from one shoulder, yet also had the fierceness of a matador’s cape. Sunday saw Lemaire’s interest in the East restyled in a series of pajama-inspired dresses with intricate Persian prints that could be worn by women of all ages. And indeed the show saw models in their 40s walk down the runway. Speaking

A creation for Hermes during the Fall/Winter 2012-2013 collection show, on March 4, 2012 in Paris. (AFP)

A creation for Givenchy’s fashion house as part of the presentation for Women’s Fall-Winter, 2013 fashion collection, during Paris Fashion week, March 4, 2012. (AP)

A creation by French designer Alexis Mabille as part of his Fall/Winter 2012-2013 women’s ready-to-wear show during Paris fashion week March 4, 2012. (Reuters)

A creation by Swiss designer Albert Kriemler for Akris during the Fall/Winter 20122013 ready-to-wear collection show, on March 4, 2012 in Paris. (AFP)

backstage, Lemaire laughed: “We are timeless. Hermes is for individual women, whatever their age.” At which point, he was cut off by 65-year-old fashion icon Jane Birkin, who came to give him a kiss.

Intentionally crude stitching in one leather dress was followed by a series of intensecolor slip dresses with clashing belts - harking back to the palette of British glam rock. Indeed, associations with rock music have been a key factor in keeping Givenchy on the public radar in the past year. Madonna’s widely viewed performance at the American Super Bowl football championship last month was a marketing coup for the house, the singer dressed head to toe in Tisci’s couture.

gamine look. This insouciance translated to a short skirt wardrobe. It was a blatant “sticking your tongue out” at the normal autumn covered-up look, with pleated miniskirts and short dresses in plum and black exposing yards of leg. Just in case spectators still didn’t get his point, the funky soundtrack blasted out a chorus of “mini mini mini mini,” to chuckles on the front row. In the more wintery part of the collection, he showcased a series of plumed pieces. But at times the texturemixing looked like he was trying too hard.

One jacket embroidered entirely with messy, wild feathers and fox fur looked almost like a vixen had raided a chicken pen.

bert Kriemler’s designs channeled the work of 1950s Expressionist painter Franz Kline to give an architectural, angular show of fabrics that hid womanly shapes. A rust and nude cashmere silk floor-length dress hung like a column, focusing the eye on never-ending legs. Vertical lined shirt dresses that blurred vision “magic eye”-style, and trapezoid jackets, lapels and prints boldly asserted the boxy style that’s the big story for this fall.

The colors were taken straight from Kline canvases with a charcoal color block cape, based on “Painting No.7,” reprinted in the program notes, and a pantsuit offering a dash of warmth. “Kline’s work was an exciting discovery for me,” said the Swiss designer, “a 1950s artist that captures in painting, the architecture and the dynamics of fashion today.” With collections like this, Akris’ already sizable fan base will no doubt continue to grow. -AP

Givenchy

A year ago it was panthers. Now horses have captured the imagination of Givenchy designer Riccardo Tisci, whose show Sunday presented a highly charged and at times fetish-ized take on equestrian riding gear. Jodphurs in black and sable brown shaped the silhouette of the collection’s first half, with oversized earrings like horse-blinders complementing high riding boots. As ever with Tisci, there was a sense of danger at all times with chokingly tight neck scarves, loud, troubling music, and even one skintight leather piece - based on a sporting polo - that looked like bondage gear.

Alexis Mabille

The young girl next door with a pretty red bow: that was the inspiration for Alexis Mabille’s fall-winter collection Sunday, which reworked the youthful bow in every imaginable way. Girly tied-lace belting shaved years off the look of a flounce dress with chestnut bow embroidering, while diamante bow earrings put the icing on the cake of the carefree, chic

Akris

Proving that you don’t need curves to be chic, the square look gracing runways all season hit its pinnacle in the fall-winter collection by Akris on Sunday. Creative director Al-

ALWATAN DAILY

entertainment Song Of The Day

Fahad AlSabah Staff Writer

Song: Fool That I Am Artist: Etta James Album: The Second Time Around Genre: Soul In short: Etta James’ sophomore album featured the same quality her debut, At Last!, had, while continuing her chart reign by having five of the album’s songs chart on both pop and R&B charts. It’s hard to imagine people listening to “Fool That I Am” back in the day and not thinking that it was an instant classic; the song has appeal to last it a lifetime.

To listen to the song visit www.alwatandaily.com E-mail your feedback to falsabah@alwatandaily.com

The Buzz Rapper denounces shooting at Arizona nightclub A rapper who was to perform at an Arizona nightclub until a shootout outside left 14 people wounded says his thoughts and prayers go out to the victims of “this senseless act of violence.” Rapper Nipsey Hussle issued a statement over the weekend saying he strongly opposes gun violence, and that his fans know he represents “nothing but peace and progress through hard work.” “I grew up on the streets of south central Los Angeles and have witnessed many tragedies in my lifetime,” Hussle said. “I never glorify any situation like this and think it is disgusting.” Meanwhile, the search continued Sunday for two suspects in Friday night’s shooting outside The Clubhouse Music Venue in Tempe. At least 250 people were lined up outside the venue when three men began arguing and opened fire at one another, authorities said. Fourteen people were wounded, but police said all were expected to survive. Twelve had relatively minor injuries, while two were seriously hurt. Police arrested one of the three suspects later that night. -AP

Paulson, Rabe, Peters returning to American Horror Story “American Horror Story” Season 2 is shaping up to be quite the reunion. Evan Peters, Sarah Paulson and Lily Rabe will be returning for the Ryan Murphy/Brad Falchuk horror drama, it was announced at the show’s PaleyFest panel in Beverly Hills (and reported on the series’ Twitter account) Friday night. Peters, Paulson and Rabe join previously announced returning cast members Jessica Lange and Zachary Quinto.

Peters played Tate Langdon, Rabe played Nora Montgomery, and Paulson played Billie Dean Howard on the first season of the FX series. It is not yet known which characters they will play in the second season. As Murphy revealed last year, the second run of the series, while featuring some returning cast members, will feature all new characters, in a new setting. During Friday’s panel -- which was attended by Murphy, Lange and Season 1 cast members Dylan McDermott, Connie Britton and Alexandra Breckenridge -- it was also revealed that filming for the second season will begin in July, with a premiere set for October, possibly in the second week of the month. -Reuters

Backstreet Boy reports $120,000 jewelry theft A member of the Backstreet Boys pop music group informed police that $120,000 in jewelry was stolen from a Stone Mountain hotel where he and his wife were staying. Brian Littrell told WSB-TV they were leaving Stone Mountain Park outside Atlanta when they realized the jewelry had been left on a nightstand in their hotel room. He said that when they returned to the hotel to retrieve the items, they were gone.

Leighanne Littrell says the $120,000 in jewelry included her engagement ring valued at $110,000. WSB reports that police were at the hotel Sunday night. -AP

Lady Gaga breaks 20 million Twitter fans barrier Eccentric pop star Lady Gaga now has more than 20 million followers on Twitter, pushing her further ahead of her nearest Twitter rivals. According to social media monitoring site socialbakers.com, Lady Gaga broke the 20 million followers barrier over the weekend of March 4-5. Currently, as of 10:30 GMT March 5, Lady Gaga (@Lady Gaga) has 20,085,304 followers, is following 139,662 people and has sent 1,294 tweets.

Lady Gaga’s last post on the microblogging site was an endorsement of Bruce Springsteen and read “Did ANYONE see SPRINGSTEEN on Fallon last night!!! Buy his new album. It is so genius its hard to even believe. Just mind-blowing passion.” Her closest competitor in terms of Twitter followers is the teenage pop star Justin Bieber, who currently has slightly over 18 million followers, followed by Katy Perry (+15 million), Shakira (+14 million) and Rihanna (+14 million). Despite Lady Gaga’s dominance of Twitter she lags behind Justin Bieber and Rihanna in terms of YouTube popularity, and on Facebook she is behind Eminem and Rihanna, both of whom have in excess of 50 million Facebook fans. -AFP

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Pitt, Clooney, Sheen headline marriage rights play LOS ANGELES: Martin Sheen commanded the stage with his impassioned portrayal of an attorney arguing for gay-marriage rights; Jane Lynch inspired instant response as a vehement same-sex marriage opponent; Brad Pitt dazzled as a judge.

It was all part of the star-studded West Coast premiere of “8,” a play about the 2010 federal court fight against Proposition 8, the gay-marriage ban that California voters approved in 2008.

The performance Saturday at the Wilshire Ebell Theatre in Los Angeles also featured George Clooney, Kevin Bacon, Jamie Lee Curtis, Christine Lahti, George Takei, John C. Reilly, Chris Colfer, Matthew Morrison and Jesse Tyler Ferguson.

The play by Oscar winner Dustin Lance Black made its Broadway debut last year in similar starry fashion. Saturday’s benefit performance was broadcast live on YouTube, where director Rob Reiner said it drew 200,000 viewers. He hopes it attracts more than a million before its weeklong online run ends. The play will also be staged around the country with local actors at colleges and community theaters.

“We want as many people as possible to see what happened inside that courtroom,” said Reiner, a founding member of the American Foundation for Equal Rights, which is helping fund the federal fight for marriage equality.

Relying largely on transcripts from court proceedings, “8’’ introduces viewers to the couples who challenged the California initiative, the attorneys who argued their case and a bumbling witness who spoke out against them.

One couple has two children together; the other wants to start a family; and a witness testifying in favor of the same-sex marriage ban said under oath that marriage equality was best for couples, kids and the country.

The real-life couples in the case - Sandy Stier (Curtis) and Kris Perry (Lahti), and Jeff Zarillo (Matt Bomer) and Paul Katami (Morrison) - and the attorneys - David Boies (Clooney) and Theodore B. Olson (Sheen) - were in the audience Saturday, along with director Brett Ratner, designer Diane Von Furstenberg and Clooney’s girlfriend, Stacy Keibler.

“We did put fear and prejudice on trial, and fear and prejudice lost,” Olson said after Reiner brought him on stage.

Olson, a noted conservative litigator, represented George W. Bush during the contentious Florida recount that decided the 2000 presidential election and later served as his solicitor general. Boies, a prominent liberal attorney, led Vice President Al Gore’s legal team in the recount.

Last month, the 9th Circuit Court of Appeals upheld an earlier judge’s decision that found California’s proposed amendment banning same-sex marriage unconstitutional.

Reiner said he and Black decided to make a play and eventually a movie based on the Prop. 8 trial after proponents successfully petitioned to block cameras from the courtroom.

Saturday’s reading was held on a courtroom-like set, with eight chairs on each side and Pitt’s judge’s box in the center.

Sheen and Clooney made for an impressive legal team, while Reilly cracked up the crowd as a verbose marriage expert.

“I knew that Martin Sheen was going to get a huge ovation after that speech because we applauded for him in rehearsal,” said Ferguson, adding that he wanted to be in “8’’ as soon as he heard about it. “John C. Reilly did a brilliant job with his role but I loved seeing Jane Lynch play such a villainous, homophobic creature. It really felt like she was sticking it to the man.”

Reilly said he was moved by the material, and even more so by its message.

“I think America will be a better place and we can hold our chins up a little higher in this country when everyone is treated (equally),” he said. “These aren’t gay rights or special rights, they’re basic rights that people who love each other should have.” -AP

Rock guitarist Ronnie Montrose dies in Millbrae

SAN FRANCISCO: Rock guitarist Ronnie Montrose, who formed the band that bore his name and performed with some of rock’s heavy hitters, has died, his booking agent said Sunday.

Montrose died Saturday at his home in Millbrae, agent Jim Douglas said. He was 64.

Montrose had been in declining health for some time, battling prostate cancer and “personal demons,” Douglas said.

Besides forming his own band in 1973, Montrose performed with a number of rockers, including Sammy Hagar, Herbie Hancock, Van Morrison, Boz Scaggs and the Edgar Winter Group.

“The guy was such a legendary figure for so many people,” Douglas said. “He influenced so many bands.”

Douglas described Montrose as “one of the founding farmers of rock and roll,” while Montrose’s wife, Leighsa, noted his work ethic.

Montrose was working on releasing his first DVD and was about to embark on a spring tour later this month that would have taken him across the US, Douglas said.

Besides his wife, Montrose is survived by a daughter and five grandchildren. Services are pending. -AP

Jeff Goldblum heads to NBC’s Silverman comedy Jeff Goldblum is a hot commodity right now: The “Jurassic Park” and “Independence Day” star, who currently plays one of Rachel’s dads on “Glee,” will guest-star on NBC’s Sarah Silverman comedy pilot, now titled “Susan 313;” according to TV Guide. The project stars Silverman as a thirty-something woman adjusting to single life after a decade-long relationship ends. Goldblum will play the infamous ex. The actor could possibly return should the comedy get picked up to series.

tuesDAY, march 6, 2012

FILE - This undated photo provided by Prime Time Entertainment Inc. shows Rock guitarist Ronnie Montrose. (AP)

The celebrity cast onstage during rehearsals for ‘8’ presented by The American Foundation For Equal Rights & Broadway Impact at The Wilshire Ebell Theatre on March 3, 2012 in Los Angeles, California. (AFP)

Actors George Clooney, Martin Sheen, Brad Pitt, John C. Reilly, and Kevin Bacon onstage during rehearsals for ‘8’ presented by The American Foundation For Equal Rights & Broadway Impact at The Wilshire Ebell Theatre on March 3, 2012 in Los Angeles, California. (AFP)

Michael Jackson files allegedly stolen by hackers LONDON: A large number of music files of the late “king of pop” Michael Jackson were allegedly stolen from record company Sony Music by computer hackers, sources familiar with the case said on Monday.

Sony Music, a unit of Sony Corps, signed a $250 million deal with Jackson’s estate in 2010, the year after the “Thriller” singer’s death, to release 10 albums covering previously unreleased material and his back catalogue.

On Friday, two men appeared in a British court accused of offences connected with the alleged security breach.

They were arrested last May and charged in September.

James Marks and James McCormick denied the charges under the Computer Misuse Act and the Copyright, Designs and Patents Act at Leicester Crown Court.

According to the Serious Organized Crime Agency, they were remanded on

bail and were due to stand trial in January next year.

Sony Music did not have an immediate comment to make on the allegations, and the IFPI record industry lobby group declined to comment on an ongoing investigation. Sources could not confirm British media reports that tens of thousands of files, most of them by Jackson, were allegedly downloaded illegally, although files can vary from entire tracks to small snippets of music. -Reuters

Brit and American comedy dance at ‘Secret Ball’ NEW YORK: At the first US Secret Policeman’s Ball, American and British comics took turns on the Radio City Music Hall stage to showcase the foul-mouthed joy of free speech. The benefit concert Sunday night brought a UK tradition across the Atlantic for the first time in its 36-year history.

It was started by Amnesty International and Monty Python’s John Cleese, who gathered comics for a gala to fundraise for the human rights organization. Musicians like Pete Townsend and Sting would later join.

The last Secret Policeman’s Ball was in London four years ago, but the tradition was renewed stateside Sunday with the same guiding ethos of celebrating free expression by ridiculing despots - whether they be international dictators, fictional characters like the Ball’s namesake or maybe just more daily life demons like - as Paul Rudd cited - high-priced sushi.

“It’s not a hostile takeover,” insisted Russell Brand, speaking on behalf of his British countrymen.

In a 2 1/2 hour show, which was streamed live by EpixHD.com, that featured dozens of performers, the only restriction on speech was the “Wrap It Up” sign, which hurried the loquacious Brand from the stage.

Aside from the night’s two musical guests - Coldplay and Mumford & Sons - the event mainly congregated comics.

From the American side, there was Jon Stewart, Ben Stiller, Sarah Silverman, David Cross and most of the cast of “Saturday Night Live.” The UK was mainly represented by standups, including Eddie Izzard, John Oliver, Jack Whitehall and Micky Flanagan. The culture clash was fodder for comic examination. Stiller and English comedian David Walliams analyzed the different meanings of various words between the two countries. Whereas they differed on words like “dentistry” and “obese,” they found commonality in their dim view of CNN host Piers Morgan.

Stewart took the stage with North Korean leader Kim Jong Un (played by Rex Lee of “Entourage”). Kim pleaded

to be allowed to join in the fun, trying out knock-knock jokes and demanding to be added to sketch. (He later made a cameo as a pizza delivery boy.)

Taped videos were played from three members of the Pythons - Eric Idol, Terry Jones and Michael Palin - who each made far-fetched excuses and claimed to be “the sixth Python.”

The protested impediments to free speech took on unlikely forms. Silverman lambasted the refusal of an old boyfriend to be told “I love you” after six weeks of dating. Fred Armisen, Jason Sudeikis and Seth Meyers traded places in an interrogation sketch where each was guilty of offending “the Supreme Leader” - who could only be assumed to be “SNL” producer Lorne Michaels. For some, even Fozzie Bear was “the man.”

Statler and Waldorf, the ornery old critics from “The Muppets,” observed the show from their customary position of the balcony, dispensing their usual negative reviews.

Rashida Jones (“Parks and Recreation”) applauded their right to “speak to power,” which in their case could mean Fozzie Bear’s act.

There were few moments where politics intruded on the proceedings, but the Ball did feature one unusual comic who earned a standing ovation.

Burmese comedian Zarganar Thura took the stage, he said, not to tell jokes, but to thank Amnesty. Thura had been serving a 35-year sentence in a Burmese prison for “causing public alarm” after speaking to foreign media. After three years in prison, he was released last October in an amnesty that freed about 200 political detainees. A nominally civilian government has replaced a long-ruling military junta in Burma, but Thura said that 25 percent of the country’s parliament is filled by military officers. Thura suggested another 25 percent of parliament seats be filled by comics: “That way, half the parliament would be crazy.” -AP

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ALWATAN DAILY

AROUND TOWN / TIME OUT

TUESDAY, MARCH 6, 2012

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

Feature o f

graffiti

the day

moderately confused

Turkish Airlines brings Andy Cole to students at GUST KUWAIT: Turkish Airlines, the official partner of the Manchester United Football Club, today extended to students at Kuwait’s Gulf University for Science and Technology (GUST) a once-in-a-lifetime opportunity to meet and connect with Manchester United Legend Andy Cole.

Cole, the second highest scorer in the Premier League’s history, had an open forum with students and later signed jerseys brought by the students who were incredibly excited to have had the chance to meet Cole in person.

Turkish Airlines Regional Marketing Manager, Mr. Muhammed Fatih Durmaz said: “It gives Turkish Airlines tremendous pleasure to make students’ dreams come true by providing them with this unique opportunity to meet and connect with the legendary footballer, Andy Cole, who has stunned the world with his marvelous skills for years. We hope we provided a good experience and opportunity for students in Kuwait.”

Cole spent seven years at Old Trafford where he struck up a string of fruitful strike partnerships with modern greats Eric Cantona, Teddy Sheringham and Ole Gunnar Solskjaer, but it was his work in tandem with Dwight Yorke during Manchester United’s Treble season for which he is perhaps best re-

Month a t

Sudoku membered.

Andrew plundered 24 goals during 1998-1999, including the delicate lob over Tottenham’s Ian Walker which secured the Premier League title. He followed the Treble with two more league titles and an Intercontinental Cup, before joining Blackburn Rovers in December 2001.

Turkish Airlines is considered to be an ideal partner for Europe’s most valuable football club, Manchester United. It is also an official partner of Barcelona Football Club and the sponsor of professional

American basketball player with the Los Angeles Lakers, Kobe Bryant.

Turkish Airlines offers non-stop flights to over 190 destinations across five continents in the world.

A Star Alliance member, Turkish Airlines is today a four star airline company with a young fleet of 177 aircraft (passenger and cargo), known for its premium catering and service. It is the only airline that serves non-stop flights between Los Angeles and Istanbul, providing convenient connections to Europe, Asia, Africa and the Middle East.

Elementary

Intermediate

Advanced

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

a glance business, basic communication, as a second language or simply as a hobby. For more information/registration, contact 97228860/97793440.

Quiz night for ladies March 14/ 6 p.m.-7:30 p.m. / TIES Center: Ties Center Ladies Club invites all ladies to the educative and entertaining session. You can come with your family and enjoy the quiz night together. Refreshments will be provided. For more information/registration, contact 25231015/6 or 97228860/97793440.

Kuwaiti cuisine

K’S PATH invites applicants for the adoption of pets Lana is a very affectionate and sweet female puppy of mixed breed. She was born in October 2011. Lana is a happy girl who loves to play and go for long walks. She will be a great addition to a family with children over 10 years of age.

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.

Diwaniya presentation March 6/ 7 p.m. / AWARE Center: You are invited to a diwaniya presentation entitled, “Business Survival Guide” by An Swinnen. In 2010, An decided to write “The Business Survival Guide (because it is a jungle out there)” which gives top tips on how to run your own business, business skills, management skills and social skills. The book was written in Kuwait and summarizes some of An’s experiences of doing business in Kuwait and the GCC countries. For more information, call 25335260 ext 0.

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.

Art exhibition

Waist Watchers

Royal Thai Embassy

March 5-15/ 7 p.m. / Dar Al Funoon: Mohammed Abou El Naga is a multidisciplinary visual artist, art professor, curator and developer. Throughout his colorful career, he created award winning art projects, fulfilled his responsibility towards his community and brought up new generation of young artists with his teaching, workshop and his multitude of practices.

Every Tuesday/ 6 p.m. – 7 p.m. / British Ladies Society: Meetings are based on the world’s most successful healthy eating plan. Weekly meetings include private weigh in, motivational talks, recipes to try, and cooking demonstrations.

Fee of KD 2.500 is required to cover for the cost of course material. For more info contact; Danielle desertdanny@hotmail.com.

Arabic course

Hip Hop at BAIA

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 purpose-

Fiona is a beautiful female SemiLong Haired cat born in May 2008.

She loves being cuddled and a good belly rub! She enjoys being held and likes to play. Fiona would be a lovely new family member in a household with children over 5 years of age. To adopt, call (+965) 6700 1622.

New Toastmasters Club

EducationUSA

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.

Dilbert

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.

Do you have questions regarding studying at a university in the US? AMIDEAST can help.

Please visit our EducationUSA Advising Center in Sharq, and attend one of our weekly free group advising sessions, held every Monday, from 3 p.m. to 4 p.m. For further information, visit: www.amideast.org, telephone us at 2247-0091, ext. 6819, or E-mail us at: kuwait@ amideast.org.

Nancy

Horoscopes Aries: March 21 - April 19

A lot of effort, energy, and enthusiasm that you’ve put into various business or personal projects in the past could finally pay off today. Don’t be surprised if you receive some unexpected praise or acknowledgement for your work. Friends and your special someone are likely to be very proud of you for this, Aries, so don’t be surprised if you receive a lot of compliments and congratulations.

Taurus: April 20 - May 20

Unexpected communications from people far away could open up new opportunities regarding career, education, travel, or other broadening experiences.

As a result,Taurus, new friendships could develop, as well as new ideas and possibly exciting new goals. Modern technology could play a major role in this development.A trip by air could be on the horizon, probably to a place you’ve never been before.

Gemini: May 21- June 21

Career and business continue to play a powerful role in your life now, as new ideas, new people, and considerations as mundane as modern equipment open up new doors for you, Gemini. In addition, romantic involvements could intensify. If you’re currently committed to someone, expect to grow closer.

Cancer: June 22 - July 22

Sudden changes in your romantic situation could occur today, Cancer. If you’re currently committed to someone, expect some surprising propositions from your partner. If you’re involved but not committed, a marriage proposal might be in the picture. If you aren’t currently involved, you could meet someone new and exciting under unusual circumstances.

Leo: July 23 - August 22

As the world economy continues to boom, Leo, don’t be surprised if you’re surrounded by new work possibilities. More than one chance to increase your income could come your way today.

The problem will be wading through all these opportunities and trying to decide which is the most appealing and workable for you. List your options and outline the pros and cons of each.

Virgo: August 23 - September 22

You should be feeling especially creative at this time.

Social events could put you in touch with some exciting new people, Virgo. Contact with those in interesting professions could open up new personal and intellectual avenues to explore today. New friends could come your way, and your romantic situation should intensify.

Libra: September 23 - October 22

One or more exciting new people could come into your life today, perhaps through friends or group activities of some kind. They might actually visit you in your home. Expect to be inspired and motivated by your contact with these people and others, Libra, and to have a lot of new possibilities for your future running through your head.

You might also begin to contemplate a move. Enjoy your day.

Scorpio: October 23 - November 21

Today is likely to prove very busy, Scorpio, and full of interesting, unusual developments. You might find yourself having to run a lot of errands in your neighborhood, perhaps also making a few short visits. A lot of letters and phone calls, some with intriguing news, could also be on your agenda at this time. It could take some time for you to process all the information and make sense of it.

Sagittarius: November 22 - December 21

Opportunities to increase your income by working out of your home could well present themselves today. There might be more than one, and you could be tempted to take them all on. Think about this carefully before you commit, Sagittarius. You’re feeling energetic today, but that could flag on future days.

Capricorn: December 22 - January 19

Paperwork regarding financial matters may need to be executed at some point today, Capricorn. You’re in the mood for some adventure, perhaps physical or romantic. You might be tempted to participate in challenging sports, such as river rafting or downhill skiing, or you might decide to attend a group meeting and see what opportunities for contacts - not to mention romantic partners! - come your way.

Aquarius: January 20 - February 18

Today,Aquarius, a subject that particularly interests you could cause you to delve into obscure sources to shed more light on it. Your intuition should help, but today you’re more inclined to search for solid evidence. You might find what you seek in an unusual place and in an unconventional way. You might want to carry a notebook and pen with you today, even if it’s just to the corner store!

Pisces: February 19 - March 20

Today should find you continuing to work toward cherished career and other goals. Love matters may come to the forefront, Pisces. If you’re currently involved, unexpected events could bring you that much closer to your partner. If you aren’t involved, you could meet someone exciting, perhaps through some kind of group activities.

ALWATAN DAILY

SPORTS

tuesDAY, march 6, 2012

19

Basketball

Bryant fires Lakers to win over Heat LOS ANGELES: Although Kobe Bryant hates to disappoint everybody who thinks his 33-point performance in a win over the Miami Heat was payback to Dwyane Wade for breaking his nose in the All-Star game a week ago, that particular Hollywood fable just isn’t true.

Yet the legend of the Masked Mamba will only grow after the Los Angeles Lakers finally struck a few blows of their own in this previously one-sided matchup with mighty Miami.

Bryant produced his third straight dynamic 30-point game while wearing a clear protective mask over his stilltender nose, while Wade managed just 16 points before fouling out midway through the fourth quarter of the Lakers’ 93-83 victory Sunday.

Metta World Peace scored 17 points while leading a solid defensive effort for the Lakers, who have won 17 of their last 18 home games and eight of 10 overall. Andrew Bynum had 16 points and 13 rebounds as Los Angeles never trailed in the final 44 minutes against Miami, snapping a four-game skid in Bryant’s head-to-head matchups with Wade’s Heat.

“We did extremely well,” said Bryant, who had just 24 points in the Lakers’ loss in Miami six weeks ago. “I felt like we matched their energy and their physicality, which was a problem for us in Miami.”

Just one week afterWade also gave Bryant a concussion with that hard foul in Orlando, Bryant scored 18 points in a dynamic first quarter. He added enough big baskets in the second half to keep the Lakers ahead with help from his starting frontcourt of Pau Gasol, Bynum and World Peace, which combined for 44 points and 30 rebounds while Chris Bosh remained out of Miami’s lineup.

Los Angeles Lakers’ Kobe Bryant (left) goes up to shoot against Miami Heat’s Joel Anthony during the first half of their NBA basketball game in Los Angeles, March 4, 2012. (Reuters)

Although the Staples Center crowd roundly booed Wade during pregame introductions and the first few times

Rose scores 35 as Bulls hold off 76ers 96-91

Chicago Bulls’ Derrick Rose leaves Philadelphia 76ers’ Andrea Iguodala trapped behind a screen set by Carlos Boozer during an NBA basketball game, Sunday, March 4, 2012.

(AP)

PHILADELPHIA: Derrick Rose tied a season high with 35 points, and Joakim Noah had 11 points and 18 rebounds to lead the Chicago Bulls to their sixth straight win, 96-91 over the Philadelphia 76ers on Sunday night. In a battle of division leaders, the Bulls made all the big shots over the final minutes to end a three-game losing streak against the Sixers.

Leading 91-89, the Bulls turned the ball over, but Andre Iguodala tossed up an airball on a 3-point attempt. Again the Bulls turned the ball over, and this time it was Thaddeus Young who missed a jumper for the Sixers. At least his shot hit the rim.

Rose made them pay for the misses, going left hand-to-right for a one-handed shot on the run for a 93-89 lead with 20.2 seconds left.

Iguodala’s tying 3 clanged off the backboard and finished off the Sixers. Iguodala scored 14 points, and Elton Brand had 14 points and 13 rebounds for the Sixers.

Carlos Boozer scored 13 points for the Bulls. Young had 17 points and Jrue Holiday 16 for the Sixers.The Bulls alternated in the fourth between sloppy play and clutch buckets. Late in the quarter, Rose’s pass

attempt went over Noah’s head and was intercepted by Holiday that led to Young’s dunk to make it 87-85. C.J.Watson, playing with a sprained left ankle, made one of his own on long jumper on the next play.

Rose took it from there. He had nailed a 22-footer at the halftime buzzer and another long jumper with a hand in his face to end the third that tied it at 64.

The Bulls carried that last-shot momentum into the fourth. Luol Deng hit a pair of 3s early in the quarter and Rose continued to torment the Sixers.

Still, the Sixers kept the Bulls in their sight, and Holiday’s dunk pulled them to 82-78. But the Sixers weren’t smart with the ball and Iguodala’s long 3 hit nothing but air. The Sixers, losing their grip on the Atlantic Division, give the Bulls fits each time they play.

Once Deng, Noah and Richard Hamilton warmed up offensively, the Bulls got going. At one point in the first half, the trio were a combined 2 of 11 for four points.

That was long forgotten by the fourth, and when Deng hit consecutive 3s early in the quarter, the Bulls turned the deficit into a 74-66 lead.

he touched the ball, Wade apologized profusely after the All-Star game to Bryant, his fellow U.S. Olympian. Bry-

ant insisted he bore no grudge, saying Wade would never injure him on purpose.

Bryant has spent much of the last week in dark rooms to ease his injuries, and he plans to keep the mask when the Lakers make a three-game road trip next week.

LeBron James had 25 points, 13 rebounds and seven assists for the Heat, who lost on the final two stops of their three-game trip after nine consecutive victories. Only Mike Miller’s jumper with 21.4 seconds left saved Miami from its lowest-scoring performance of the season.

Mario Chalmers scored 15 for the Heat, who played their third straight game without Bosh after the All-Star forward attended his grandmother’s funeral on Saturday.

Wade didn’t seem satisfied after going 7 for 17 and committed five turnovers before fouling out with 5:14 to play, committing three fouls in rapid succession for an early end to a rough day. Wade and James were both out of sync for long stretches, as evidenced by their combined 2-for-5 performance at the free-throw line from a duo that averages more than 15 foul shots per game.

Wade fouled out for just the fifth time in his regularseason career and the first time in 259 games since Oct. 29, 2008.

Driving to the hoop and hitting fallaway jumpers with equal grace, Bryant went 8 for 10 and earned a handful of standing ovations in the first quarter. Los Angeles led 50-38 at halftime, with the Heat exceeding their lowestscoring half of the season by just one point.

The crowd jeered Wade off the court after he committed three fouls in less than three minutes, picking up his sixth when he foolishly tried to reach over the 7-foot Bynum’s back to stop an alley-oop pass. -AP

Cricket

Australia look to close out CB Series finals

Adelaide: Australia are determined to close out the tri one-day series finals against Sri Lanka, all-rounder David Hussey said on Monday. The top-ranked Australians take a one-nil lead into Tuesday’s pivotal match in Adelaide in the best-of-three match finals after a too close for comfort victory in Sunday’s opening game in Brisbane.

Australia beat Sri Lanka by just 15 runs despite setting the World Cup finalists 322 to chase for victory and leaving skipper Michael Clarke concerned about his team’s ability to close out ODI matches.

Hussey, who took four for 43 with his off-spin in Sri Lanka’s innings, said the Australians were desperate to kill off the finals series in consecutive matches.

“This is a chance to win a series - not all of us have actually won a series in Australia in oneday international cricket,” Hussey told reporters.

“So it’s very important we actually close out the series in a professional manner.”

Australia were at full stretch to contain some late lusty Sri Lankan hitting after Mahela Jayawardene’s men had clawed back from 144 for six in the 31st over after looking headed for a big loss.

Nuwan Kulasekara slammed 73 from 43 balls and Upul Tharanga hit 60 from 67 to get Sri Lanka within sight of a remarkable victory before last man Lasith Malinga was dismissed with four balls left.

Hussey said Australia’s bowlers failed to deliver on their plans.

“The conditions were a bit greasy and it was very hard to stand up for the fast bowlers,” he said. “But if we can just execute our skills. I think

David Warner of Australia runs between the wickets during the first One Day International final match between Australia and Sri Lanka at The Gabba on March 4, 2012. (AFP)

we will go a long way to winning the game. I thought we played three-quarters of the perfect game last night and hopefully there is a perfect game just around the corner.”

Explosive opening batsman David Warner faces a pre-match fitness test for Australia ahead of Tuesday’s second final.

Warner is in doubt with a sore groin injured during his man-of-the-match 163 from 157 balls

Formula one

Ferrari fear Melbourne podium is out of reach

Rondo shines as Celtics down Knicks

BOSTON: Rajon Rondo delivered a mammoth “triple-double” to lead the Celtics to a 115-111 overtime victory over New York Sunday, spoiling Knicks guard Jeremy Lin’s return to Boston. Rondo poured in 18 points with a career-high 17 rebounds and 20 assists. It was the most impressive “triple-double” in the league since Magic Johnson’s 24-17-17 in 1989. Paul Pierce led the Celtics with 34 points, including a three-pointer in the waning seconds of regulation to force overtime, and Kevin Garnett had a “double-double” of 18 points and 10 rebounds.

NBA sensation Lin had 14 points with five assists and four rebounds for the Knicks, who were led by Carmelo Anthony’s 25 points.Two quick fouls hindered Lin early, but in the fourth quarter he flashed the skills that have sparked the Knicks as New York tried to claw back. Lin connected on a layup off a loose ball and drained a wide-open three-pointer to narrow the gap to 96-95 with 2:07 left in the fourth.

He scored six straight points late in the last period of regulation, but he also had six turnovers in his 31 total minutes. “The thing about Jeremy, he’s going to make some mistakes, and he’s got a learning curve,” said Knicks coach Mike D’Antoni.

“There’s no way you can throw him in here, the first time he ever does it, and expect it to be perfect. But he finds a way to be very positive at the end of games.”

The Celtics paid special attention to Lin. Like Miami a fortnight earlier, they didn’t want the rising star to beat them.

“Definitely a target,” Lin said. “But I think that’s fine, because I think we have such a well-rounded team. It’s just going to take time. It’s my, whatever, 11th, 12th game, 13th, I don’t really know. Early on, so I’m learning a lot and absorbing information right now.” -AFP

Ferrari’s Brazilian Felipe Massa in action during a test session at the Montmelo racetrack near Barcelona, Spain, Saturday, March 3, 2012. (AP)

BACELONA, Spain: Ferrari gave Italians the bad news on Sunday with a warning that their new Formula One car was unlikely to be a winner, or even in the podium places, when the season starts in Australia in two weeks’ time.

“In the hunt for the podium in Melbourne? At the moment I’d say no,” quoted technical director Pat Fry as saying after the final pre-season test in Barcelona. “We are disappointed with the performance level seen at these tests and I think we have a lot of work ahead of us,” added the Briton, who joined Ferrari from McLaren in 2010.

Ferrari won just once last season, at Silverstone in Britain with Spain’s double world champion Fernando Alonso, while Red Bull and Sebastian Vettel have won both championships for the last two years.

The sport needs its most successful and glamorous team to be back fighting for race wins and titles but Fry said it was hard to measure accurately where they stood. “It will only be in Melbourne

that we will get a clear answer as to whether we have to be very disappointed or just a little, how far we really are off the front runners and consequently how much ground we have to make up to get there,” he declared. Ferrari, whose steppednose car has been described as one of the ugliest they have ever designed, made changes to their exhaust positions during testing to try and extract more performance.

“Clearly the decision relating to the exhausts that we took last week meant we took a few steps backwards in terms of development,” said Fry. “How much? Difficult to say right now.”

He said there would be a few updates for Melbourne, mainly to readapt the car to the original exhaust configuration to be used for the first four long-haul races in Asia and Middle East and to get more downforce. Red Bull had a new exhaust layout on their car on the last two days of the final Barcelona test, something Fry indicated might lead to controversy ahead. -Reuters

which prevented him from fielding in Sri Lanka’s innings.

Should Warner not play vice-captain Shane Watson is in line for a possible return to the opening position and Peter Forrest could be recalled after missing the Brisbane game.

“We all hope Warner is up and firing,” Hussey said. “It was a fantastic innings and all the boys hope he can replicate that.” -AFP

Marussia debut new car pending final crash test

LONDON: Marussia gave their new Formula One car its track debut at Silverstone on Monday despite it still having to overcome a final crash test hurdle before the opening race of the season in Australia next week. The Russian-licensed former Virgin Racing team said in a statement that the Cosworth-powered MR01 had been rolled out for the first of two limited-mileage promotional events on demonstration tyres.

British-based Marussia, whose drivers are experienced German Timo Glock and French rookie Charles Pic, were unable to run the car at the final pre-season test in Barcelona last week after it failed a mandatory 18th and final crash test.

Teams are not allowed to take part in official testing without their cars being signed off by the governing International Automobile Federation but that restriction does not apply to promotional and filming events.

There was no mention of the crash test problem in the statement but the team said separately they were close to resolving it.

“The component in question has actually passed an ‘unobserved’ crash test but has been performing inconsistently in the observed tests,” said the team’s technical consultant Pat Symonds.

“The fail has only been marginal but, nonetheless, we need to completely eradicate that margin and as such we are taking the time we have to ensure we have an even more robust solution in place.”

Team principal John Booth said it had been “a long and frustrating wait for everyone” to get the car running.

“We can now get back on track - literally and start working towards the first race of the season in Australia,” he added.

“Today is the first of two promotional events, so while the drivers will be able to get a feel for the car, they won’t be able to draw any real conclusions until we start running in anger in Melbourne.” -Reuters

tuesdAY, MARCH 6, 2012

Sports Editors Highlight

SPORTS

SEOUL, South Korea: China’s cashed up football clubs are ready to end a 22-year drought in the Asian Champions League starting Tuesday. These days China’s domestic teams are among the richest in the world, and of the 32 teams from all corners of the Asian Football Confederation, all eyes will be on Guangzhou Evergrande. For wealthy Guangzhou, the $4 million or so prize money for lifting the Champions League trophy is perhaps less valuable than the continentalwide publicity and the opportunity to appear with the best in the world in December at the FIFA Club World Cup. It would also be a massive boost for Chinese football after the national team’s recent elimination from qualification for the 2014 World Cup.

Football

Barca, Milan look to avoid Champs League upsets LONDON: Despite Barcelona and AC Milan stressing the need to avoid complacency to reach the Champions League quarterfinals, there should really only be two matches this week where the outcome remains uncertain.

But although Barcelona has a 3-1 lead over Bayer Leverkusen, the holders will have to cope without injured strikers Alexis Sanchez and David Villa at the Camp Nou on Wednesday.

And Leverkusen, with nothing to lose, is full of confidence after securing its first league win over Bayern Munich in 15 attempts at the weekend.

“Some may take Leverkusen for granted and underestimate them,” Barca coach Pep Guardiola said.

“But we still have a lot of work to do to get ready for a team with a lot of height that with a corner kick can break open the knockout series.”

And since losing the first leg to Barca, Leverkusen has won three league games in a row for the first time this season.

“This is a very young team that tries to play with a lot of passion,” Leverkusen coach Robin Dutt said.

“They are always moving and are prepared to run a lot.”

But top scorer Lionel Messi should be well rested after sitting out Barcelona’s 3-1 win over Sporting Gijon due to suspension on Saturday.

The three-time world player of the year has netted seven goals in the Champions league and 43 overall for Barcelona this season and scored his first hat trick for Argentina last week. And Dutt knows his side will need to produce an extraordinary performance in Spain.

“The way they pass the ball is second to none,” he said. “But every once in a while they draw a match, every once in a while they lose.”

AC Milan would have to collapse like no side has in Europe since the 1980s to be ousted by Arsenal after a 4-0 victory in Italy.

“We know the statistics are against us, but you also know that you can realize the impossible when you don’t know it is impossible,” Arsenal manager Arsene Wenger said. “We can score in quick succession and we can have a good edge in our game. We have it all to

Benfica looking to overturn Zenit’s 3-2 advantage

FILE - Renato Augusto of Leverkusen challenges Eric Abidal of Barcelona during the UEFA Champions League round of 16 first leg match between Bayer 04 Leverkusen and FC Barcelona, Feb. 14, 2012. (AFP)

win, and all to do because the result is written before we turn up, but we can change it, and we must go for it.”

And Milan coach Massimiliano Allegri is not taking anything for granted. After all, Milan was ousted in the 2004 quarterfinals by Deportivo La Coruna, losing the second leg 4-0 after winning 4-1 at home.

“Despite the 4-0 advantage, the English never give up,” Allegri said. “So I’m expecting the team to be even better than in the first leg, because we know how difficult it will be.”

It will be more difficult to predict the outcomes of the other two last-16 matches this week.

APOEL will be looking to extend its unprecedent-

ed Champions League run for a Cypriot side by beating Lyon.

A morale-boosting victory against lowly Ermis on Saturday kept the Cypriot champions in touch with front-runners AEL and Omonia following a bad run of form that had fans grumbling that players were chasing European glory at the expense of the domestic title.

By reaching the knockout phase, APOEL with its small 13.2million US dollar budget has already achieved what no other Cypriot team has ever done.

And APOEL will rely on its tight, disciplined style of play against Lyon and try to exploit the defensive weaknesses of a French side which lost to relegationthreatened Nancy on Saturday. -AP

Inter scramble draw as pressure grows on Ranieri MILAN: Claudio Ranieri’s grip on his Inter Milan job appeared even more precarious on Sunday after his side had to fight back from two goals down to squeeze out a 2-2 draw against Catania.

Ranieri’s team had lost seven of their previous eight games, without scoring a goal, and they were soon in trouble against their unheralded visitors from Sicily.

Catania, with only one point collected in 16 previous visits to San Siro, were dreaming of all three when Alejandro Gomez gave them a 20th-minute lead and Mariano Izco added the second 18 minutes later.

Inter were booed off at half-time by the sparse crowd and the jeers at a clearly unsettled Ranieri increased in the second half as time slipped away.

But Diego Forlan pulled one back after 71 minutes, Inter’s first in 541 minutes before the Uruguayan set up the unmarked Diego Milito to grab the equalizer with 10 minutes left.

Despite the late rescue act, Inter remain in seventh place in Serie A, 11 points off the Champions League places.

“The team knew how to react. We looked at each other in the dressing room at half-time and it was a delicate moment,” said Ranieri. “The guys were formidable. At 2-0 down they could have lost

Inter Milan forward Diego Forlan, right, of Uruguay, scores a goal during the Serie A soccer match between Inter Milan and Catania at the San Siro stadium in Milan, March 4, 2012. (AP)

hope but no. This team never says never.”

Lazio defeated city rivals Roma 2-1 in a stormy derby that saw Roma goalkeeper Maarten Stekelenburg red-carded

inside the first 10 minutes.

Stekelenburg was sent off when he brought down German striker Miroslav Klose, who had burst past Juan after

springing the offside trap.

Roma’s eighth red card of the season was compounded when Brazilian midfielder Hernanes scored from the penalty spot, beating replacement keeper Bogdan Lobont, who had come on for Erik Lamela.

Roma leveled after 16 minutes when Fabio Borini found the target after a Juan drive had come back off the post.

Lazio’s one-man advantage eventually told in the second half, however, when skipper Stefano Mauri volleyed home a free-kick from Cristian Ledesma in the 62nd minute as they claimed a league double over their derby rivals.

Lazio are now third with 48 points, three less than second-place Juventus and six off AC Milan in top spot, while Roma are down in sixth place.

Goals by Edinson Cavani and Ezequiel Lavezzi gave Napoli a potentially crucial 2-1 success at Parma to take the southern outfit to within three points of the top four.

Napoli moved onto 43 points from 26 matches with their fifth straight win, a run that has seen Cavani and Lavezzi plunder 10 goals between them. Napoli are now fifth in the table, three points behind Udinese, who were held 0-0 at home

by Atalanta. -AFP

United boss expects City showdown to decide title ENGLAND: Sir Alex Ferguson believes the destiny of the Premier League title race will be decided by the outcome of Manchester United’s trip to face current leaders Manchester City at Eastlands on April 30.

United manager Ferguson is convinced his side took a major step toward retaining the English crown with the hard-fought 3-1 victory at Tottenham on Sunday.

The champions were out-played for long periods but

Manchester United’s Wayne Rooney (2ndL) runs with the ball chased

by Tottenham Hotspurs’ Jake Livermore during the Premiership football match at White Hart Lane Park, March 4, 2012. (AFP)

capitalised on two defensive errors by Spurs beforeAshley Young capped victory with his second goal of the game.

Ferguson admitted his side rode their luck, but believes the form shown by United since the turn of the year confirms they are stepping up the pressure on City, who currently sit two points clear at the head of the table.

“We have had all the big teams since January including City and Liverpool in the FA Cup,” Ferguson said.

“We have come through that and credit to the players.

They have played well in most of the games. Today was a bit disappointing but the one thing we did do was show the determination to get the result.”

United face City at the end of April for their third last league game and Ferguson said: “I think it will be the title decider. It is difficult to say because things can happen.

You can drop points. You can drop surprise points. I think that will happen. I think both teams will drop points. But the important thing is not to drop as many as your opponents. We have the experience. We won’t get nervous.

The battling performance we did today against a very, very good team tells you that we are well up for it.”

Wayne Rooney put United ahead against the run of play just before half time before Young struck in the 60th and 69th minutes to wrap up the points. Jermain Defoe produced an 87th minute reply but it was too late to affect the outcome. Back-to-back defeats have left Tottenham sitting in third place, just four points ahead of Arsenal, who lie fourth, but manager Harry Redknapp remains convinced his side will hold onto their position.

“It’s going to be tight for the top four but I’d still rather be where we are than where Arsenal are,” Redknapp said. “They’re four points behind us and we’re going for third. I’d be disappointed if we finished fourth.

I’d be more disappointed if we finished fifth.” Redknapp insisted he was satisfied with his side’s response to the 5-2 defeat at Arsenal the previous week. -AFP

LISBON, Portugal: Benfica will need to end a four-game winless run to reach the quarterfinals of the Champions League at the expense of Zenit St. Petersburg.

The Portuguese club is aiming to overturn a 3-2 deficit in the second leg of the round-of-16 series on Tuesday.

Benfica will have to do that without key Argentine pair Ezequiel Garay, a central defender who is out with a left knee sprain, and suspended playmaker Pablo Aimar.

Benfica surrendered its Portuguese league lead at the weekend, losing at home to FC Porto for its third defeat in four matches to drop to second place.

The slump, which began in St. Petersburg, is Benfica’s worst run of results in three years and has raised Zenit’s hopes of going deeper into the competition than ever before.

The Russian champions are six points clear at the top of its domestic league and drew 2-2 at CSKA Moscow on Saturday, with striker Alexander Kerzhakov scoring both of Zenit’s goals.

“The game against CSKA was the most important one during my work at the club, but the match against Benfica will be the most important one in the club’s history,” Zenit coach Luciano Spalletti said.

Zenit was without seven key players in the first leg, its first game of the year, but can count on the return of goalkeeper Vyacheslav Malafeev, defender Domenico Criscito and strikers Danko Lazovic and Alexander Bukharov.

“We have a perfect chance to make it into the quarterfinals,” midfielder Sergei Semak said.

Benfica was unbeaten in the Champions League this season before its trip to Russia. It reached the knockout round after finishing top of Group C, which included Manchester United.

Paraguayan striker Oscar Cardozo scored twice in Benfica’s 3-2 loss to Porto and is the joint top Portuguese league scorer with 16 goals in 21 games. But Benfica’s midfield has recently lost its sparkle. -AP

Di Matteo begins damage limitation at Chelsea

FILE - Roberto Di Matteo gestures after the final whistle against Fulham during a Premier League match at Craven Cottage in London, Jan. 4, 2011. (AFP)

LONDON: Chelsea’s interim coach Roberto Di Matteo woke up on Monday with the immediate priority of securing Champions League soccer for next season before the club embark on the search for a permanent successor to sacked Andre Villas-Boas.

Salvaging a top-four finish in the Premier League would at least ensure the London club start next term in no worse a position than this season albeit with exactly the same problems to solve as they had when they installed Villas-Boas last June.

Failure to grab a qualifying spot for Europe’s elite club competition would mark their worst season since Roman Abramovich bought Chelsea in 2003 and could shrink the pool of managerial candidates even more than the reputation of the job might.

Former assistant Di Matteo has 11 league games in which to lift Chelsea from the fifth place they currently occupy or the club will not even be in the competition their Russian owner values more highly than any other. Villas-Boas was dismissed on Sunday after a poor run of results, leaving the club three points behind fourthplaced Arsenal and on the brink of a Champions League exit.

Di Matteo’s first match in charge will be Tuesday’s FA Cup fifthround replay at Championship (second division) Birmingham City in the only competition they still have a realistic chance of winning.

They host Stoke City in the Premier League on Saturday before facing an uphill battle to try to overturn a 3-1 deficit at home to Napoli in the second leg of their Champions League last-16 tie.

There has been no word on whether Di Matteo is seen as a potential candidate for the longer term but with Abramovich having already been burnt by his gamble on an upcoming manager in Villas-Boas, he seems likely to go for a bigger name.

There has been much media speculation over a possible move to lure fans favorite Jose Mourinho back to the club he led to successive Premier League titles in 2005 and 2006 but a lack of Champions League action could put off suitors of his caliber.

Whoever takes the job on a permanent basis, or at least as permanent as any Chelsea post is with Villas-Boas shown the door less than nine months into a three-year deal, will be under no illusions about what is expected of them. Even Mourinho could not bring Abramovich the European Cup, while Avram Grant was fired after taking Chelsea to the Champions League final and Carlo Ancelotti was given his marching orders after a trophyless season despite winning a league and cup double the previous year.

Whoever takes over will inherit an ageing squad with senior players who are not shy to voice their unhappiness over tactics or team selections. They will also need to get the best out of British record signing Fernando Torres who has endured a dismal start to his stay at Stamford Bridge. -Reuters