March 7, 2012

WEDNESDAY, MARCH 7, 2012

@alwatandaily

Issue No. 1366

20 PAGES

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MP Ashour files interpellation motion against premiere

Mohammed Al-Salman, Mohammed Al-Khaldi Staff Writers & Agencies

KUWAIT: MP Saleh Ashour filed his anticipated interpellation on Tuesday against His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah over a host of issues, highlighting main five which include the multimillion deposits, alleged illicit financial transfers abroad, perceived failure of government to enforce the law and address the issue of Bedouns and Cabinet’s failure to submit an action plan. Meanwhile, parliamentary sources revealed ‘rifts’ within the opposition. The sources noted that these divisions contradict their declared public stance of being against the deferral, referral or removal of certain issues.

Additionally reports emerged that the position of newly elected MPs remains vague, as they are hesitant to take action during the beginning of the new legislative term.

Sources stated that meetings will be held among members of the opposition. It is expected that these MPs to take unilateral decisions, which may in effect leave them unable to take a unified stance concerning the interpellation.

After MP Ashour submitted the interpellation, the lawmaker told reporters that a request for no-cooperation motion will depend on the reaction of his fellow MPs to the issues highlighted in the interpellation.

As to whether he will accept a closed-door session to discuss the interpellation, Ashour said, “I will respect the opinion of the majority because this is an unquestionable constitutional and legal right.” In addition, Ashour dismissed suggestions that his interpellation is intended to “reshuffle cards,” while reiterating support for the investigation panels tasked with probing some of the allegations in his interpellation.

The lawmaker added that he sees no contradiction between these panels and the interpellation he filed. MP Ashour also noted that he had already briefed certain MPs about the interpellation, noting that some of them have asked for more time and that their position will be made public after listening to the deliberations that will take place about the interpellation.

In the meantime, Ashour alleged that the government’s previous approach remains unchanged and that the executive authority did not live up to people’s expectations. He elaborated by stating the people have demanded a new trajectory for the government, adding that

Syria faces outrage; ‘smell of death’ in Homs

he will focus on this point during the discussion.

The interpellation motion noted that the prime minister has failed to fulfill his duties to an extent that he can no longer perform his constitutional obligations. It also claims that the PM failed to manage the issue of corruption and that he has not been serious in enforcing the law. In the motion, the lawmaker equally lamented the lack of a state plan and general policies regarding corruption, and criticized the government’s weak approach in taking legal action against those involved in financial irregularities.

The MP insisted that his interpellation serves the public interest and explained that there are no ulterior motives behind it. “I have profound respect for the prime minister but Kuwait is above all personal relations and courtesy,” the MP elaborated.

In reactions, MP Mohammad Al-Kandari of the Salafist Movement expressed reservation over the interpellation, even though it is a constitutionally guaranteed right.

Speaking to Al Watan, the lawmaker questioned the motive behind the motion, particularly since it has been submitted by someone who himself is accused of receiving kickbacks.

Kuwait Airways building not collapsing: Official

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Scientists see rise in tornado-creating conditions

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Avalanche buries village in northeast Afghanistan

An image grab taken from a video uploaded on YouTube shows an explosion from two bombs targeting a Syrian army tank on a road near Ariha, about 330 kms north of Damascus. (AFP)

BEIRUT: Syrian President Bashar Al-Assad faced growing Western anger Tuesday for preventing aid from entering a devastated district of Homs and over accusations of human rights abuses, including pictures said to show torture victims at a hospital in the city.

Dozens of men, women and children returned on foot to Baba Amr, passing bullet-pocked and damaged buildings, days after rebel fighters pulled out after a sustained and heavy military assault. The Red Cross was awaiting approval to distribute aid to the devastated district which endured a month of siege.

Residents who fled the district spoke of bodies decomposing under rubble, sewage mixing with litter in the streets, and a campaign of arrests and executions. “The smell of death was everywhere. We could smell the bodies buried under the rubble all the time,” said Ahmad, who escaped to Lebanon. “We saw so much death that at the end the sight of a dismembered body ... stopped moving us.” Calls for action to protect civilians have grown louder as the Alawite-led security apparatus cracked down on protests and an uprising that has its roots in the majority Sunni community and which has raised the prospect of civil war in Syria. -Reuters

India’s ruling Congress party loses key state poll

NEW DELHI: India’s Congress party trailed in fourth place as vote counting neared its end in Uttar Pradesh Tuesday, a bitter election blow to Rahul Gandhi who had staked his political future on reviving his party’s fortunes in the populous northern state. Gandhi, scion of the Nehru-Gandhi dynasty that ruled India for most of its 65 years of independence, had campaigned tirelessly to revive his party in the politically crucial state where it has not ruled for 22 years. The campaign, which thrust him into the rough and tumble of the state’s politics - even sleeping in villagers’ huts - was widely seen as a test of his fitness to take the reins of Congress from his ailing Italian-born mother, Sonia.

The Uttar Pradesh election was also seen as a measure of Rahul’s ability to emerge from the shadows of government and replace Manmohan Singh as prime minister if Congress More on 5 and its coalition allies retain power in national elections due in 2014.

KABUL: Rescuers shoveled through deep snow Tuesday searching for victims of an avalanche that destroyed a village of 200 people in northeastern Afghanistan, authorities said. Thirty-seven people have been confirmed dead, but authorities fear the death toll will rise.

“It is a mountainous area with so much snow,” said Shams Rahman, the deputy governor of Badakhshan province where the avalanche occurred on Sunday night. “My concern is that many more people were killed.”

People from a nearby village were the first to reach the site. They were joined on Tuesday by rescue workers from Darwaz

district, who walked for two days to reach the remote area. About 100 rescuers equipped only with shovels are digging through mounds of snow looking for anyone who might have survived, Rahman said. He said initial reports were that only three women and one child survived the avalanche, as they were not in the village of Dasty at the time.

Mohammad Daim Kakar, general director of the Afghanistan National Disaster Management Authority, said authorities were trying to find two helicopters that can be sent to ferry blankets, food and medicine to the site, which is close to the Tajikistan border. -AP

MP Saleh Ashour (right) displays document of interpellation motion against the Premiere in Kuwait City on March 6, 2012 (Al-Watan)

12 Kuwaitis on Gulf Business’ 100 most influential Arabs

KUWAIT: Twelve Kuwaitis made Gulf Business’ list of 100 most influential Arabs (Nine men and two women). The selected individuals were from various sectors which include banking, finance, real estate, science, culture and trade. Among the first to be ranked locally and 21st internationally was Sheikh Salem Abdul Aziz Al-Sabah, Governor of the Central Bank of Kuwait.

The governor plays an influential role in regulating Kuwait’s financial markets.

The Kuwaiti, who has been heading the central bank since 1986, shocked Gulf markets when he announced Kuwait’s decision to de-peg the dinar from the dollar and switch to a basket of currencies in 2007. While the step affected the planned

Gulf currency union, Al-Sabah defended it, saying that it was essential to curb inflation in the country.

Ranking 25th was Mohammed Alshaya. As the executive chairman of Kuwaitbased MH Alshaya, the retail division of the Alshaya Group, Mohammed Alshaya handles some of the biggest brands in the world. The company operates over 2,000 franchise stores, representing brands such as MAC, H&M, Mothercare, Debenhams, The Body Shop, Boots and Starbucks. It has also signed partnership agreements with The Cheesecake Factory and Kidzania. The firm has further announced plans to open 1,250 stores over the next five years, creating an estimated 4,000 jobs.

More on 2

British athletes warned about Olympic handshakes

LONDON: Britain’s athletes have been told of the dangers of shaking hands at this year’s Olympics in case they pick up a bug that could wreck their sporting dreams.

The British Olympic Association’s (BOA) chief medical officer said that “within reason”, shaking hands should be off-limits, given the fact that all athletes will live and eat in close proximity at the Games village -- and bugs could spread like wildfire.

“Within reason if you do and have to shake hands with people, so long as you understand that regular hand washing and/or also using hand foam can help reduce the risk -- that would be a good point,” Dr Ian McCurdie said.

The BOA has drawn up a list of health advice for its 550-strong team of athletes and 450 support staff for the Games, which start in London on July 27, with illness identified as the greatest threat to performance along with injury.

“At an Olympic Games or any major event the performance impact of becoming ill or even feeling a little bit ill can be significant,” McCurdie explained, saying that bugs could easily be picked up from anything from cutlery to door More on 16 handles.

First international airline lands in Mogadishu after 20 years

As many as 5,000 students from around the state gather at the Capitol to protest the rising cost of higher education in Sacramento, Calif., Monday, March 5, 2012. College students, teachers and supporters from around the state converged on the Capitol demanding state lawmakers to restore funding for higher education. (AP)

MOGADISHU: The first long-distance international commercial airliner in some two decades to fly to Somalia’s war-torn capital landed on its maiden flight at Mogadishu airport Tuesday.

The Turkish Airlines flight, with a high level delegation from Ankara led by Turkish deputy prime minister Bekir Bosdag, was welcomed on landing in the anarchic seaside capital by Somali President Sharif Sheikh Ahmed.

“Today is big day for Somalia -- Turkish Airlines made its first official flight to Somalia,” said Somali government official Abdisalam Mohamud, adding that top leaders welcomed the flight to “commemorate the big event.” Several Somali airlines, including Kenya-based African Express, fly into Somalia from neighboring nations, but Turkish Airlines’ proposed twice-weekly flights are the first commercial flights from outside the region. “The deputy prime minister of Turkey has officially opened the operations of the international carrier,” Mohamud added.

Somalia has had no effective government since 1991 and in recent years Al-Qaeda-allied Shebab insurgents and other groups have taken an increasing hold on large parts of the More on 4 country.

Samajwadi Party supporters smear party flag colored powder on each others’ faces as they celebrate the early leads of the party leader Mulayam Singh Yadav outside the party office in Lucknow, India, Tuesday, March 6, 2012. Election officials across five Indian states Tuesday began counting votes in crucial provincial elections that are being seen as a test of strength for the country’s ruling Congress party. (AP)

Eastern Libya declares semi-autonomous region

BENGHAZI: Tribal leaders and militia commanders declared a semiautonomous region in oil-rich eastern Libya on Tuesday, a move opponents fear will be the first step toward outright dividing the country six months after the fall of Muammar Gadhafi.

Libya’s National Transitional Council, the interim central government based in the capital Tripoli, has repeatedly voiced its opposition to the creation of a partly autonomous eastern region, warning it could eventually lead to the breakup of the North African nation.

Thousands of representatives of major tribal leaders, militia commanders and politicians made the declaration in a ceremony held in the eastern city of Benghazi.

They vowed to end decades of marginalization under Gadhafi and named a council to run the affairs of the newly created region, extending from the central coastal city of Sirte to the Egyptian border in the east.

The gathering appointed Ahmed Al-Zubair, Libya’s longest serving political prisoner under Gadhafi, as leader of its governing council. Al-Zubair is also a member of More on 4 the National Transitional Council.

Russian protesters fear Putin resorting to force

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500 new fairytales discovered in Germany

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ALWATAN DAILY

kuwait

wednesDAY, march 7, 2012

Balance of power in Parliament did not change, says Al-Kharafi Staff Writer

KUWAIT: Former National Assembly Speaker Jassem Al-Kharafi said that Arabs are in dire need of dialogue, noting that the region is going through a critical stage. He expressed pleasure with the positive steps taken to achieve Gulf union, stressing the importance of the study being conducted by the GCC General Secretariat.

Speaking to reporters on the sideline of the dinner party he held on the honor of the Arab parliamentary delegations, Al-Kharafi said “We, in Gulf States, are in dire need to speed up linking our interests through taking such

a blessed move. We call for further rapprochement among GCC citizens. I hope I will live until I see this union”. AlKharafi stressed the need of Gulf States to such a union, especially since the region is going through a sensitive stage.

He said that the world has become a small village and it will be in our interests to be part of the system. He added that Gulf Union will lead to Arab-Arab rapprochement and addressing all problems at this time. He stressed the need to dialogue in order to be able to face the enemies who want evil for the Gulf and Arab region. He hoped that the Arab meetings will urge Palestinians to unite in order to be able to face the Israeli enemy. Asked about the role played

El-Katatni: Kuwait’s Parliament exercises all democracy tools provided

KUWAIT: “The Kuwaiti National Assembly is a dynamic body of lawmakers exercising ably all the tools that democracy avails them with,” said visiting Egyptian House Speaker Saad El-Katatni in an interview which state-run Kuwait TV will broadcast tonight.

Here to attend the functions of the 18th conference of Arab Inter-Parliamentary Union (AIPU), the Speaker waxed poetic in the interview about the Kuwaiti National Assembly being at the forefront of lawmakers ‘assemblies in the region, particularly in having lots of leeway to express viewpoints or enact legislations. He said he was of the conviction that the Kuwaiti paradigm availed other Arab nations with one they should emulate for their societies.

Being one of the more visible leaders of the Muslim Brotherhood in Egypt and member of the Liberty and Justice party and the 33rd house speaker in the Egyptian parliament, El-Katatni underlined that the party he belongs to (which is Muslim Brotherhood dominated) was committed to bear all the responsibilities expected of it, in view of the lack of such commitment from the current government in power, to furthering security and economic growth and prosperity for the embattled nation. While he opined that the Arab region was at the cusp of a gargantuan historical upheaval whose consequences would eventually benefit the average man in the street, he urged the region to keep up with the pace of socio-political development in the rest of the world, coaxing Arab nations to help in delineating the course of their own destiny rather than wait for others to do it for them. Arabs at this juncture in history have high expectations of their parliaments, he cautioned, so that “if these parliaments do not come through for their constituencies, the latter will have no option but to replace them.” With regard to changes in his country, the Egyptian Speaker expected that the multi-party system there would thrive and develop rapidly which eventually would alter the political map for the better in that ancient society. -KUNA

ICC grateful Kuwaiti Parliament trusts institution

UNITED NATIONS: Prosecutor of the International Criminal Court (ICC) Luis Moreno-Ocampo late Monday expressed gratitude that the Kuwaiti Parliament recently recognized the great job his institution is doing when the Parliamentarians recently recommended that the Syrian gross violations of human rights be referred to its scrutiny. “Today, I was reading that the Kuwait Assembly is recommending to send the Syrian case to ICC. It is up to the Security Council to do it, I have nothing to say, but I love the idea that Kuwait, which is not a party (to the Rome Statute,) said we trust this institution to do the job,” Ocampo told a press conference. He was responding to a question as to how he felt leaving his post next June after nine years on the job.

The Court can generally exercise jurisdiction only in three cases: if the accused is a national of a state party, if the alleged crime took place on the territory of a state party, or if a situation is referred to the Court by the Security Council. “I am proud to be part of a team which started the job ... We are stopping the crimes. We know the only way to have a safe world is to protect anyone in any part of the world. In this sense, I feel very well ... There are still a lot of problems (in the world,) but we are going in the right direction.

Basically, we are offering the world an institution to do justice.” The official said the Court’s work is a “triumph of civilization ... The crimes being examined are against humanity.” Moreno-Ocampo of Argentina will be succeeded by Fatou Bensouda, a Gambian Lawyer who has been serving as his deputy.

He urged the international community to find “the final solution” for the problem of impunity in Sudan’s conflict-affected region of Darfur, where he said war crimes have continued despite warrants of arrest against several senior Sudanese officials.

“I think we did something complicated. We investigated the crime. We collected the evidence. We clarified the responsibilities, but our effort is not enough if the crime is not stopped,” he said.

He recalled that just last week, the ICC issued an arrest warrant against Sudanese Defence Minister Abdelrahim Mohamed Hussein on 20 counts of crimes against humanity and 21 counts of war crimes. Moreno-Ocampo said Hussein was in charge of delegating responsibility for attacks in Darfur and coordinated raids, and was also involved in the recruitment of the Janjaweed militia who are accused of carrying out attacks alongside government forces.

He noted that that case will be his last on Darfur before his tenure as ICC Prosecutor ends in June. The Security Council asked the ICC to investigate war crimes in Darfur in 2005, after a UN inquiry found serious violations of international human rights law have been committed. Since then, the ICC judges have issued arrest warrants against Sudanese President Omar Al-Bashir for genocide, crimes against humanity, and war crimes in Darfur. The other Sudanese officials indicted are government minister Ahmed Harun and militia leader Ali Kushayb. -KUNA

by Gulf Cooperation Council (GCC) regarding the Syrian crisis, Al-Kharafi highlighted the importance of expressing one view by GCC countries. He stressed the need of Arabinternational efforts in order to avoid civil war in Syria. He said that there should be a Syrian-Syrian dialogue, supported by Arabs, to overcome the crisis while hoping that Syrians will act wisely before their country is completely destroyed. Asked about change of balance of power in the Kuwaiti parliament, Al-Kharafi said “from my point of view, it hasn’t been changed a lot. Those are the MPs who were elected by the Kuwaiti people”. He went on to say “I pledged not to comment before a certain period in order

Amir’s envoy partakes in Connect Arab Summit 2012

CAPITALS: Envoy of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the Deputy Prime Minister, Foreign Minister, and Minister of State for Cabinet Affairs Sheikh Sabah Khalid AlHamad Al-Sabah departed the country on Tuesday on his way to Qatar to partake in the Connect Arab Summit 2012.

Director of Deputy Prime Minister and Foreign Minister’s Office Sheikh Dr. Ahmad Nasser Al-Mohammed Al-Sabah and other senior officials accompanied the Amir’s envoy. The envoy was received at Doha International Airport by Qatari Assistant Foreign Minister for International Co-operation Sheikh Ahmed bin Mohammed bin Jabor Al-Thani, Minister of Communication Salem Al-Othaina and Kuwaiti Ambassador to Qatar Ali Salman Al-Haifi.

Envoy of the Amir attended on Tuesday a luncheon held by Qatari Amir Sheikh Hamad Bin Khalifa Al-Thani, honoring delegations and officials taking part in the Connect Arab Summit 2012 hosted

by Doha, Qatar. In other news, the Amir

Envoy of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the Deputy Prime Minister, Foreign Minister, and Minister of State for Cabinet Affairs Sheikh Sabah Khalid Al-Hamad Al-Sabah in Qatar partaking in the Connect Arab Summit 2012 on Tuesday, March 6, 2012. (KUNA)

received here at Seif Palace Tuesday in the presence of His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, National Assembly Speaker Ahmad Abdelaziz Al-Saadoun accompanied by a number of speakers of Arab

parliaments participating in the 18th Arab Inter-parliamentary Union (AIPU) conference held here. The Amir welcomed them to Kuwait, conveying his regards to their fellow countries’ leaders, and wished them success. The encounter was attend-

ed by Deputy Minister of Amiri Diwan Affairs Sheikh Ali Jarrah Al-Sabah and Kuwait National Assembly’s Secretary General Allam Al-Kandari. The Amir also received in Seif Palace Khalifa bin Ahmed Al-Zahrani, Speaker of Bahrain’s House of Representatives, and Jordanian Parliament Speaker Abdul-Karim Al-Daghmi, where he conveyed to the Amir a letter from Jordanian King Abdullah II. In the letter, Jordanian Monarch discussed bilateral relations and ways to boost cooperation in different levels.

Furthermore, the Amir received the Yemeni parliament speaker, Yahya Ali AlRai, where he also conveyed to the Amir a written letter from the Yemeni President Abd-Rabbu Mansour, on bilateral relations and ways to develop them. The Amir, also received Mustapha Ben Jaafar, Speaker of the Tunisian Constituent Assembly. All encounters were attended by National Assembly Speaker Ahmad Abdelaziz Al-Saadoun and Deputy Minister of Amiri Diwan Affairs Sheikh Ali Jarrah Al-Sabah. -KUNA

12 Kuwaitis rank Gulf Business’ 100 most influential Arabs

Compiled by Al Watan Daily

KUWAIT: Twelve Kuwaitis made Gulf Business’ list of 100 most influential Arabs (Nine men and two women). The selected individuals were from various sectors which include banking, finance, real estate, science, culture and trade. Among the first to be ranked locally and 21st internationally was Sheikh Salem Abdul Aziz Al-Sabah, Governor of the Central Bank of Kuwait. The governor plays an influential role in regulating Kuwait’s financial markets. The Kuwaiti, who has been heading the central bank since 1986, shocked Gulf markets when he announced Kuwait’s decision to de-peg the dinar from the dollar and switch to a basket of currencies in 2007. While the step affected the planned Gulf currency union, Al-Sabah defended it, saying that it was essential to curb inflation in the country.

Ranking 25th was Mohammed Alshaya. As the executive chairman of Kuwait-based MH Alshaya, the retail division of the Alshaya Group, Mohammed Alshaya handles some of the biggest brands in the world. The

company operates over 2,000 franchise stores, representing brands such as MAC, H&M, Mothercare, Debenhams, The Body Shop, Boots and Starbucks. It has also signed partnership agreements with The Cheesecake Factory and Kidzania. The firm has further announced plans to open 1,250 stores over the next five years, creating an estimated 4,000 jobs.

From Palestinian origin and ranking 30th was Ibrahim Dabdoub, Chief Executive Officer of the National Bank of Kuwait (NBK). With more than 50 years of NBK service under his belt, Ibrahim Dabdoub embodies the longevity of the country’s banking sector. The Palestine-born financier secured the top seat in 1983 but originally joined the ranks way back in 1961. In this time he has held the head of Credit role and in 2008 was made group CEO. Kuwaiti Investor Suad Al-Humaidi, ranking 39th, is a key influencer in Middle East business and society.

With an estimated net worth of $3 billion, she owns stakes in several banks across Kuwait including the National Bank of Kuwait and owns a hotel and residential tower in Beirut, Solidere. A member of the Property

Sheikh Salem Abdul Aziz Al-Sabah

Mohammed Alshaya

Ibrahim Dabdoub

Suad Al-Humaidi

Hussam Fawzi Al-Kharafi

Omar K Al-Ghanim

Bader M. Al Sa’ad

Marwan Marzouk Boodai

Nabeel Bin Salamah

Dr. Naif Al-Mutawa

Maha Al-Ghunaim

Jawad BuKhamseen

Qatari detained for 21 days, referred to Central Prison

Ibtisam Saeed Staff Writer

KUWAIT: The Ahmadi Prosecution on Tuesday ordered the detention of the Qatari national accused of overrunning Ahmad Assad, a Kuwaiti, for 21 days and that he should be referred to the Central Prison pending investigations.

The order came due to the poor health condition of Assad and the difficulty involved in taking statements from him. A session will be set following the remand in custody to determine whether the accused should face renewed detention or released on bail.

In the same vein, the defense lawyer for Assad, Hawra’ AlHabib, noted that she is mainly concerned about determining who was involved in overrunning her client. She added that eyewitnesses have however suggested that it was the Qatari national who overran Assad though the latter also tried to do the same. In a TV interview, the lawyer also confirmed that tests have shown no traces of alcohol abuse in Assad.

to give new MPs time to get information and to give other lawmakers time to learn from past mistakes and to address issues wisely away from escalation”. Al-Kharafi cautioned MPs, and himself, from sectarian sedition. He urged them to remember that we all live in one country under one leadership and that stability of Kuwait is in our interest.

Asked whether he congratulated Ahmad Al-Saadoun on winning the speakership of parliament, Al-Kharafi said “I wished him the best of luck, and not to disappoint those who trusted him. I do not congratulate any officials because bearing responsibilities is a difficult issue. But I wish them the best of luck”.

Owners Union in Kuwait, she also is a member of the board of management for Audi Bank in Lebanon.

Hussam Fawzi Al-Kharafi, ranking 44th, runs this large Kuwaiti diversified conglomerate, which has interests primarily in trading and manufacturing. MA Kharafi’s alternative ventures have included becoming the largest direct owner in Krispy Kreme Donuts.

Headquartered in Safat city, the firm is one of Kuwait’s largest private commercial outfits and is also a leading supplier of newspapers in the country. MA Kharafi’s largest investment itself is in the Kuwait Pipe Industries and Oil Services Company, in which it holds a 15.82 percent stake. The Kharafi family was recently listed at 29th position in Forbes magazine’s list of the richest people in the world.

Omar Al-Ghanim, came number 53. The AlGhanim family began dominating trade and business in the Gulf during the first part of the 20th Century.

They had originally begun to populate what would become Kuwait. Today, as CEO of Al-Ghanim Industries, Omar heads the legacy of the original merchant company, what is now a multinational conglomerate with operations in 40 countries. Before joining the family firm’s ranks in 2002, he worked as a financial analyst with Morgan Stanley in London, focusing on corporate finance, mergers & acquisitions in the Middle East. He received his MBA from Harvard and his undergraduate degree from the Stern School of Business.

Jawad Ahmed Bukhamseen, founder and chairman of Bukhamseen Group ranked 60th. He founded the Jawad Bukhamseen Commercial Corporation in 1957, building what is now one of Kuwait’s largest financial and industrial conglomerates, the Bukhamseen Group.

In more modern times Jawad’s sons Emad, Osama, Anwar and Raed have taken over the reins of the firm and occupy senior management positions. Assets include holdings in banks such as Kuwait International Bank - listed on the Kuwaiti Stock Exchange - First Gulf Bank and Egyptian Gulf Bank. The group is also active in real estate, retail, hospitality, education and media.

Bader Al-Sa’ad, who chairs the Kuwait Investment Authority (KIA) ranked 61st. The authority is Kuwait’s sovereign wealth fund (SWF) managing body. KIA is estimated to hold in excess of $200 billion in assets.

Al Sa’ad presides over global and local investments, including the Agricultural Bank of China, Daimler AG, Arab Insurance and Kuwait Finance House.

Marwan Marzouk Boodai of Boodai Group ranked 69th internationally. Marwan is a Kuwaiti businessman and currently the CEO of Boodai Group, as well as chairman of Jazeera Airways, the Middle East’s first private sector airline.

Nabeel Bin Salamah, CEO of Zain ranked 82nd and arrived at the company in February 2010. The Kuwaiti telco giant was caught in the center of a controversy over the sale of its African assets to India’s Bharti Airtel. His appointment followed the surprise resignation of former CEO Saad Al Barrak Maha Al-Ghunaim, who also made Arabian Bussiness list has ranked 92nd in Gulf Business. She cofounded Global Investment House in 1998 and took it public on the London Stock Exchange three years ago - it was the first Kuwaiti firm to list there. However, the firm has been hit hard by turbulence in regional markets.

Ranking 92 was Dr. Naif Al-Mutawa, creator of The 99 and a clinical psychologist.As founder and CEO of Teshkeel Media Group, he created The 99, the first group of comic superheroes born of an Islamic archetype. Coming in first was Mohammed Bouazizi, The man who changed the world. He never meant to be the world’s most powerful Arab. All he wanted to do was earn a living. The 26-year- old Mohammed Bouazizi immolated himself outside a local municipality building in protest of an attack from a policewoman who confiscated his vegetable cart, where he earned a $7 a day living. And, with that salary, he was one of the lucky ones. Saudi’s Alwaleed Bin Talal Bin Abdulaziz Alsaud, came in second. Prince Alwaleed is the founder and chairman of Kingdom Holding Company, with an estimated personal wealth of $20 billion. The tycoon’s sphere of influence reaches far and wide - into finance, real estate, politics, media, health, education and philanthropy.

ALWATAN DAILY

KUWAIT

WEDNESDAY, march 7, 2012

Municipal Council fourth constituency by-elections kick off

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No danger in Kuwait Airways building: Official

KUWAIT: Director of the capital municipality Saleh Al-Shammari denied on Tuesday some media reports claiming Kuwait Airways building in Al-Qibla area was in danger of collapsing. Speaking to Kuwait News Agency (KUNA), Al-Shammari also refuted reports that evacuation operations were conducted in the excavations -surrounded building, while urging all media to be cautious when reporting such information. -KUNA

Sheikh Ahmad Al-Humoud reassures health of PM

KUWAIT: Acting Prime Minister and Interior Minister Sheikh Ahmad AlHumoud Al-Jaber Al-Sabah on Tuesday phoned His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah to reassure his health after completing “successfully” the usual medical checkups in Germany and the UK. Sheikh Ahmad Al-Homoud conveyed greeting and appreciation of Sheikh Jaber to His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah, His Highness the Crown Prince and the Kuwaiti people for their heartfelt sentiments.

Also, he reaffirmed that the Prime Minister’s return to Kuwait by the end of this week and that he is enjoying, because of Allah’s grace, great health and full recovery. -KUNA

MP Al-Mutawwa: If government sidelines MPs, it will face interpellation

Room view of Municipal Council.

(KUNA)

Staff Writer

KUWAIT: Polling centers for Kuwait’s Municipal Council fourth constituency by-elections opened on Tuesday, at 8:00 AM for voters to cast their ballots. The flow of voters in the fourth municipal constituency by-elections slightly went up to roughly 13 percent by 6:00 pm.

Till that time, voters came to 7,708 people out of an eligible 60,788 voters. There were 80 election committees spread out in 16 schools.

The by-elections covered the areas of Hawalli, Maidan Hawalli, Nuqra, Bayan, Mishref, Edailiya, Surra, Jabriya, Khaldiya, Qortuba, and Yarmouk.

The number of registered voters was 60,788 in the constituency, in which 25,536 are males, and 35,252 females.

The supposed total number of members of the Municipal Council is 16. The validity of the Council’s membership is four years.

Candidacy applications for the targeted constituency was open after the position was left vacant due to ex-member Shaya Al-Shaya winning a seat at the National Assembly.

In related news, Minister of Electricity, Water, and Minister of State for Municipal Affairs Abdu-

laziz Abdulatif Al-Ibrahim held talks on Tuesday with the President of the Municipal Council Zaid Al-Azmi and members of the council.

During the meeting, which was also attended by the Director General of the Municipality Ahmad Al-Subieh, talks focused on ways to boost cooperation and to strengthen joint work between the legislative and executive branches.

For his part, Al-Azmi hailed the visit by AlIbrahim, which he described as coming as part of his keenness to ensure cooperation between the two sides. -KUNA

Development plan necessary for luring investments: Minister Safar KUWAIT: Minister of State for Planning and Development Affairs Dr. Fadhil Ali Safar underlined on Tuesday significance of the state planning strategy for transforming the country into a lucrative investment hub.

Safar, also Minister of Public Works, affirmed that that government was pursuing execution of the development plans of the second year, in line with resolutions of the Cabinet and the Supreme Planning Council, despite slack of the National Assembly of endorsing the relevant bill, that had

been submitted in June, last year.

He indicated that the parliament would be urgently addressed to bless the bill of the second year of the plan, due to expire in the end of this month.

The minister, who was speaking to journalists on sidelines of a workshop on boosting achievements and tackling snags of executing annual development plans, held by the Secretariat General of the council, indicated that the strategists were pondering plans for averting recurrence of prob-

Minister of Public Works Minister of State for Municipal Affairs Dr. Fahdil Safar speaking at the inaugural ceremony of the new AlRegea sewage water station on Monday, March 5, 2012. (KUNA)

lems, in the third year of the plan, that had existed during its execution in the second year.

Safar confirmed that a draft law regarding the third year of the plan, due to begin in April, had been submitted to the parliament.

He revealed that participants in the meeting approved a decision to grant membership for Kuwait Radio in the joint information and technical committee of the secretariat general and the Ministry of Information for sake of promoting the development plans.

Meanwhile, Safar inaugurated on Monday the new Al-Regea sewage water station which holds the capacity 780,000 cubic feet per day and cost of 74 million Kuwaiti dinars.

Speaking during the opening ceremony, the minister stated that “this grand structure will serve the capital and a large part of Al-Farwaniyah governorate.

“The station will be helpful for maintaining safety of citizens and environment of urban regions and protect them from pollution that might be caused by sewage water.” The station is linked to a network of pipes that pump water by gravity to the center. It will be surrounded by planted spots for beautification purposes. Once it is fully operated, up to 29 old stations will be shut down.

Khaled Al-Khazzi, an assistant undersecretary at the ministry, indicated that today signaled start of gradual operation of the plant, and that it would be fully functional by June.

The complex was built on a 42,500 squaremeters plot of land.

KUWAIT: Member of Parliament (MP) Adnan Al-Mutawwa considered the interpellation filed by fellow MP Saleh Ashour against His Highness the Prime Minister Sheikh Jaber Al-Mubarak rightful, because the government is not cooperating with the MPs. He added that the government purposely sidelines some MPs, which forces them to use their right to file an interpellation. He went on to say that the MPs have information about some issues, but the parliamentary majority overlooks the role of those MPs in investigation committees. He went on to say that filing an interpellation has become the only means available, because MPs are prevented from shouldering their legislative responsibilities. He warned that if there are any shortcomings in any ministry, he will not hesitate in filing an interpellation against the concerned minister, and mentioned that there are several interpellation issues, such as the government’s work plan, annual plan, and violations mentioned in the Audit Bureau reports.

Moreover, he criticized MP Waleed Al-Tabtabaei for describing minority MPs as ‘the new troublemakers’, and said that he does not care what Al-Tabtabaei says. He mentioned that he and his fellow MPs represent the nation, and asserted that the majority bloc must abide by its principles and by what they had said in the past regarding the mechanism of handling interpellations.

Trade minister discusses ties with foreign officials

KUWAIT: Minister of Commerce and Industry Anas Al-Saleh discussed on Tuesday economic and commercial ties, as well as issues of joint interest with visiting delegations from Mauritania, Algeria and the World Bank.

Emerging from the meeting with the Mauritanian delegation, headed by Minister of Economy and Development Dr. Sidi Ould Tah, Al-Saleh said the talks with the eminent guests dealt with means of enhancing the commercial ties between the two brotherly countries. The discussions touched on prospected investments for Kuwaiti businessmen in Mauritania, the minister added, noting that he asked the Mauritanian side to activate the commercial treaty, signed in the African nation in 2010, to pave way for increasing volume of commercial and investment cooperation between the two countries.

Al-Saleh held a meeting with the special team tasked with working out an agreement for commercial cooperation with Algeria, aimed at bolstering the economic and trade ties between the two states. Mujahed Ibrahim, the head of the visiting Algerian delegation and the manager of trademarks at the ministry of trade, told Kuwait News Agency (KUNA) on sidelines of the meeting that the talks were crowned with a “framework commercial accord,” that had been drafted by the joint commission in 2010. The first meeting of the committee was held in Algeria on October 19, 2010, he said, explaining that the agreement was initialed during today’s meeting. Commercial exchanges between Kuwait and Algeria markedly grew over the past years, reaching USD 70 million, last year, compared to 10 million US dollars in 2005. The initial accord is due to be ratified during a meeting of the Kuwaiti-Algeria commission, due in Algeria in June.

Separately, the minister of commerce met with representatives of the World Bank (WB) at a meeting, attended by Bassam Ramadan, the director of the WB bureau in Kuwait. -KUNA

Babacan describes bilateral ties as ‘excellent’ ANKARA: Turkish Deputy Prime Minister for Economic Affairs Ali Babacan stressed the unique level of bilateral ties with the State of Kuwait, describing it as “excellent” and with great potential for further growth in the economic sphere in particular.

Babacan had the remarks in a meeting with Kuwait pressmen currently visiting Ankara. He added his country is keen on bolstering trade and investment exchange, as well as opening wider horizons for economic cooperation. He pointed out the current figures on the exchange are disproportionate to the strength of ties between the two countries and their continued growth.

Moving on to politics, he said ties in this area are also excellent and constantly growing amid continued deliberation and coordination on ministerial level. He particularly recalled efforts during his service as foreign minister back in 2008 to bolster ties between Turkey and the Gulf Cooperation Council bloc.

Babacan recalled a Turkish-GCC cooperation agreement, based on which a mechanism had been worked out to conduct strategic dialogue. The agreement states the foreign ministers hold a regular annual meeting to further political, economic, cultural, and security cooperation.

This agreement, Babacan noted, enabled holding an annual forum for Turkish and GCC businessmen to consider joint investments and ventures. Turkey, he further stressed, is keen on bolstering ties with the bloc in all areas fea-

Turkish Deputy Prime Minister for Economic Affairs Ali Babacan during a meeting held with journalists from Kuwait visiting Ankara. (KUNA)

sible, and noted ongoing effort aiming at a free trade agreement.

Babacan also remarked on visa exemptions for GCC nationals and allowing them to own property in the country.

He said allowing GCC nationals’ property

ownership “would attract Arab investments to the country.”

At present, such ownership is only allowed for corporate bodies, he pointed out.

However, the government is in the process of ironing out the legal constraints and difficul-

ties preventing direct ownership of real estate property in Turkey by GCC citizens. “A free trade agreement between Turkey and the GCC bloc would make things easier for both parties, particularly when it comes to cancelling the visa requirement in both direction,” and it is

essential to reach visa exemption to facilitate movement of citizens as well as flow of capital and investments.

As for entry of GCC nationals to the country, he said “it only requires a pass on the borders, whereas Turkish citizens seeking entry to a GCC country are faced with much obstacles and time-consuming procedures whatever GCC country is concerned.”

The official was also asked to remark on negative impact of recent events in Turkey’s surrounding region.

Babacan admitted there had been negative impact on the economy, as it lost important export markets in some Arab countries. However, he expressed optimism this would be overcome soon upon return of stability and initiation of reform in the concerned countries.

The Kuwaiti press delegation, which started its six-day visit Monday, includes Kuwaiti Journalists Association Chairman and Deputy Managing Director of Kuwait News Agency (KUNA) Ahmad Yusef Behbehani, Al-Anbaa daily Editor in Chief Yusef Khalid Al-Marzouq, KUNA Editor in Chief Rashid Al-Ruwaished, Al-Rai Editor in Chief Majid Al-Ali, and Annahar Editor in Chief Emad BuKhamsin. It also included Editor in Chief of the English daily Kuwait Times Abd Al-Rahman Al-Alyan, Deputy Editor in Chief of Al-Anbaa daily and visit coordinator Adnan Al-Rashid, and Deputy Editor in Chief of Al-Yaqaza magazine Dalia Behbehani, along with photographer Majid AlSabij. -KUNA

4

ALWATAN DAILY

regional

The 13th bombing

By Hossam Fathi

KUWAIT: Bombing the gas pipe which extends from Egypt to Israel and Jordan for the 13th time leads to many questions about the authority of Egypt, therefore Egypt has to reconsider its authority well. Firstly, I am an Egyptian citizen and reject exporting gas to Israel with the current cheap price; in fact I’m against the whole matter of exporting gas to Israel. Anyway, the most important thing now is the authority of the state that should be kept up by all people. The successive bombing influences the authority of the country, seeing this government could not stop such bombings which have occurred 13 times.

We also don’t know when the series of bombing will be over. In the mean time we are aware about the fact that Egypt suffers from the lack of security everywhere, particularly the Sinai area which has long borders with many countries including our bad neighbor Israel. When one of the neighbors is an enemy then we have to be careful, especially if the neighbor is planning to occupy the Sinai area.

However, the Military Council has already commented on leaking some news about secret Israeli plans to occupy Sinai, saying that Sinai is a part of Egypt and Egypt will never allow any other countries to intervene in this area. hossam@alwatan.com.kw Twitter:@hossamfathy66

NEWS IN BRIEF Saudi diplomat shot dead in Bangladesh DHAKA: A diplomat from Saudi Arabia was shot in the chest and died in the Bangladesh capital in the early hours of Tuesday, the deputy commissioner of Dhaka police told AFP. Police found Khalaf Al Ali’s body at an intersection just two buildings away from his residence in the city’s upmarket Gulshan district and rushed him to a hospital where he died three hours later, Lutful Kabir said. “He was hit by a bullet in the left chest,” he said, adding that the 45-year-old was the head of Saudi citizen affairs at the Royal Embassy of Saudi Arabia. The police did not give any indication of who might have been behind the attack. The embassy confirmed the death, but would not give further details. -AFP

Palestinian issue ignored in US: Official RAMALLAH, West Bank: A Palestinian peace negotiator says the Palestinian-Israeli conflict is too big to ignore, even though it was sidelined in a meeting between Israel’s prime minister and US President Barack Obama. Saeb Erekat told reporters Tuesday that in the Middle East, “No issue is above the Palestinian issue.” He spoke after Israeli and American leaders met to discuss Iran’s nuclear program. Israeli Prime Minister Benjamin Netanyahu did not speak about peace talks, which broke down in 2008. Obama made passing reference to the subject in a speech to a pro-Israel lobby and before meeting Netanyahu. Erekat said that Netanyahu pushed “a plan of war, not a plan of peace.” -AP

Sweden ‘helping plan secret arms factory in Saudi’ CAPITALS: Sweden has in secret been helping Saudi Arabia plan the construction of an arms factory to produce anti-tank missiles, public broadcaster Swedish Radio reported Tuesday.

The Swedish Defense Research Agency (FOI) has helped Saudi Arabia since 2007, though construction on “Project Simoom” has yet to begin, the radio said citing hundreds of classified documents and interviews with key players.

Sweden has in the past sold weapons to Saudi Arabia, but classified government documents state that Project Simoom “pushes the boundaries of what is possible for a Swedish authority,” the radio said. FOI director general Jan-Olof Lind denied the existence of the project. -AFP

Yemen soldier killed in new Al-Qaeda assault

SANAA: Al-Qaeda gunmen have killed a soldier on the edge of Yemen’s southwestern city of Bayda, the defense ministry said Tuesday, two days after a massive assault by the extremists killed scores of troops. “The terrorist elements attacked security forces in Zaher checkpoint (late on Monday) killing the soldier Faisal Abas al-Sabri and wounding two others,” the ministry’s website 26sep.net said, identifying the assailants as “Al-Qaeda gunmen.”

“Security forces responded inflicting losses upon the ranks” of the extremists, it added.

Al-Qaeda in the Arabian Peninsula (AQAP), the regional franchise of the jihadist network, claimed responsibility for the attack in text messages to AFP and said a total of three soldiers were killed and at least two military vehicles destroyed. Bayda borders Abyan province. The number of soldiers killed in a weekend assault by Al-Qaeda militants on an army camp in Yemen’s restive Abyan province has risen to 185, a military official said Tuesday following the discovery of more bodies.

“The toll has risen to 185 soldiers killed” in the Sunday attack on a military camp in Kud, just south of the main city of Zinjibar, the official said, adding that more bodies have been recovered from a nearby desert area. Officials and medics have said scores of soldiers and Al-Qaeda fighters were wounded in the assault, while at least 25 attackers died.

Attacks on security forces have spiraled since President Abdrabuh Mansur Hadi pledged a crackdown on the militants in an inauguration speech last month as he replaced Ali Abdullah Saleh - who had ruled Yemen for 33 years.

The Al-Qaeda militants, who declare themselves the “Partisans of Sharia” (Islamic law), seized control of Abyan’s capital Zinjibar and several other towns in Yemen’s mostly lawless south last May as Saleh faced mass protests. -AFP

WEDNESDAY, march 7, 2012

Syrian forces blast rebels, refugee escape bridge

DAMASCUS: Syrian forces on Tuesday pounded rebel-held towns and blasted a bridge used by refugees to escape to Lebanon, a monitoring group said, as fears grew for the safety of civilians caught in the crossfire.

The violence comes amid a flurry of diplomatic initiatives launched separately by the Arab League, the United Nations, Russia and China - all aimed at ending the year-long tumult in Syria which the UN says has killed at least 7,500 people.

Soldiers in tanks and armored carriers stormed the town of Herak in the province of Daraa, while army deserters clashed with troops overnight in villages of Deir El-Zor, eastern Syria, the Syrian Observatory for Human Rights said.

The Britain-based watchdog also reported that troops backed by tanks circled the town of Tibet al-Imam in the central province of Hama and sent artillery shells crashing into Maaret Al-Numan city in northwestern Idlib province.

The head of the Observatory, Rami Abdel Rahman, told AFP in Beirut that Syrian forces Tuesday also bombed a bridge used to evacuate the wounded and refugees to Lebanon from the central flashpoint province of Homs. The bridge was in the village of Rableh, some three kilometers (nearly two miles) from the Lebanese border, and straddles the Orontes River.

Hadi Abdallah, a Syrian activist in Homs, said the bridge was used last week to transport wounded French reporter Edith Bouvier out of Homs, which has been the target of a fierce assault by regime forces.

“The bridge was hit by artillery shells,” said Abdallah, reached by telephone from Beirut.

“It can no longer be used.”

The International Committee of the Red Cross, meanwhile, negotiated for a fourth day Tuesday with Syrian authorities to be allowed

Syrian woman who fled from the Syrian town of Qusair near Homs, is seen with her family at the Lebanese-Syrian border village of Qaa, eastern Lebanon, March 5, 2012. (AP)

to deliver aid and evacuate the wounded from the battered Baba Amro rebel district of the city of Homs.

Rebel fighters retreated from Baba Amro last Thursday in the face of a ground assault by Syrian forces after almost a month of shelling, with fleeing residents giving terrifying accounts of atrocities committed by government troops.

The ICRC and the Syrian Arab Red Crescent Society have since sought in vain permission to enter Baba Amro with a seven-truck aid convoy.

With the convoy stalled, Turkish Prime Minister Recep Tayyip Erdogan on Tuesday urged the international community to put pressure on Damascus to allow the delivery of relief supplies to civilians.

In New York, UN humanitarian chief Valerie Amos said she had been granted permission

by Damascus to go to Syria from Wednesday to Friday.

The aim of the visit, she said, would be “to urge all parties to allow unhindered access for humanitarian relief workers so that they can

evacuate the wounded and deliver essential supplies.”

After fleeing Baba Amro, the rebels regrouped in nearby Rastan city, which according to the Observatory and activists came under artillery fire on Sunday and Monday.

The violence in Homs province has sent more than 1,500 Syrian refugees, mainly women and children, fleeing across the border into Lebanon in the past few days, UN and Lebanese officials said on Tuesday.

The Observatory said at least six people, including two teenagers, were killed nationwide on Monday, while on Tuesday a man was shot and killed by a sniper in Maaret Al-Numan and three bodies were found near police headquarters in Homs city.

With diplomatic efforts so far stymied, US Senator John McCain, an influential Republican, called for American air strikes on Syrian forces to protect population centers and create safe havens.

On the diplomatic front, former UN chief Kofi Annan is on Wednesday to launch a mission aimed at convincing Syrian President Bashar Al-Assad to silence the guns blamed for thousands of deaths since anti-regime protests broke out last March.

Annan is to hold talks with Arab leaders in Cairo before he heads to the Syrian capital on Saturday as joint special envoy for the United Nations and the 22-member Arab League.

Russian Foreign Minister Sergei Lavrov, meanwhile, said he was to meet his Arab counterparts on Saturday in Cairo where the League has its headquarters to discuss Moscow’s ally Syria.

China’s former ambassador to Damascus, Li Huaxin, is due in Syria on Wednesday for meetings with the government and other parties.-AFP

Iran to allow UN nuke inspectors into army site TEHRAN: Iran will grant UN inspectors access to a military complex where the UN nuclear agency suspects secret atomic work has been carried out, the semi-official ISNA news agency reported Tuesday. Tehran had previously banned UN inspectors from visiting the Parchin installation, southeast of Tehran, but a statement by Iran’s permanent envoy to the International Atomic Energy Agency said the visit will now be allowed in a gesture of good will. However, it would require an agreement between the two sides on a guidelines for the inspection, ISNA reported.

Inspecting Parchin was a key request made by senior IAEA teams that visited Tehran in January and February. Iran rebuffed those demands at the time, as well as attempts by the nuclear agency’s team to question Iranian offi-

cials and secure other information linked to the allegations of secret weapons work.

The latest development comes a day after IAEA chief, Yukiya Amano, expressed growing concern that there was new activity at Parchin.

Amano did not specify whether he believed the activity was linked to suspected new weapons experiments or attempts to clean up previous alleged work.

The Parchin complex has been often mentioned in the West as a suspected base for secret nuclear experiments - a claim Iran consistently denies. IAEA inspectors visited the site in 2005, but only one of four areas on the grounds and reported no unusual activities.

Last year, IAEA’s report said there were indications Tehran has conducted high-explosives testing to set off a nuclear charge at Parchin.

Iran denied the atomic activity and insisted that any decision to open the site rests with the armed forces since it was a military, not nuclear, facility. Speaking Monday in Vienna, Austria, Amano said the suspicions of “activities ... ongoing at the Parchin site” in Iran means “going there sooner is better than later” for IAEA inspectors seeking to probe suspicions that Iran has been - or is - working secretly to develop nuclear arms.

“We have our credible information that indicates that Iran engaged in activities relevant to the development of nuclear explosive devices,” Amano said told reporters outside of a 35-nation IAEA board meeting in Vienna, describing his sources as “old information and new information.”

Iran denies any intention of possessing

nuclear weapons and says all of its atomic activities are peaceful, but the IAEA says it has intelligence-based suspicions that may not be the case, based on thousands of pages of documentation. Tehran has dismissed the information, saying it was based on “fabricated documents” provided by a “few arrogant countries” - a phrase authorities often use to refer to US and its allies.

“Given that Parchin is a military site, access to this facility is a time-consuming process and it can’t be visited repeatedly,” ISNA quoted the Iranian statement as saying. It added that following repeated IAEA demands, “permission will be granted for access once more.”

The statement added that Tehran and IAEA need to agree on “modalities” before the visit can take place.-AP

Sunni tribes mete out justice to curb Iraq unrest

BAGHDAD: Sunni Arab tribes in central and north Iraq, long home to violent extremists such as Al-Qaeda, are taking a new approach against unrest: fining and expelling those who aid insurgents.

The punishments, backed by many of Iraq’s biggest Sunni Arab tribes, mark a new level of tribal justice that was not meted out during the height of the country’s sectarian conflict as many local leaders feared retribution if they publicly opposed the insurgents.

“We agreed on a mechanism and a roadmap, to support the Iraqi security forces and the inviolability of Iraqi blood,” said Sheikh Hussein Ali Saleh Al-Juburi, head of Hawija district

council which hosted a meeting of around 150 tribal leaders last week.

Similar gatherings were held in Samarra and the nearby town of Ishaqi, all north of Baghdad, and the move was backed by the powerful Jubur, Obeid and Albu Hamdan tribes, as well as dozens of others.

Juburi said tribes would not tolerate those who “hide, support or provide space for armed groups to enter our areas and villages.”

“Those who do will be dealt with as terrorists, and will be expelled from our land, and handed over to the judiciary.”

A document signed by tribal leaders at the three meetings in Kirkuk and Salaheddin prov-

inces states that the families of convicted killers must pay victims’ families 100 million Iraqi dinars (84,000 US dollars), and notes that those who “assist criminals must be treated like the criminal”.

It goes on to specify that if bombs or explosive materiel are found in anyone’s home, that person will be expelled from the province for five years.

“We cannot accept any support for terrorism and violence, whatever its justifications, especially after the US withdrawal,” Juburi added, referring to the US military’s pullout from Iraq at the end of last year, nearly nine years after invading the country to oust Sadd-

am Hussein. The latest moves by Iraq’s Sunni tribes to hand out tribal justice in addition to any punishment imposed by the country’s judiciary, marks a change from relative inaction in past years, when tribal leaders were fearful of assassination at the hands of insurgent groups they opposed.

“In the past, circumstances were not good for us to take this step,” said Talal Al-Muttar, chief of the Albu Aswad tribe.

“At that time, we made similar calls, but some tribal leaders said we should drop the subject for the time being. Now, we are taking advantage of a more stable security situation.”

-AFP

International airline lands in Mogadishu after 20-year break

MOGADISHU: The first long-distance international commercial airliner in some two decades to fly to Somalia’s war-torn capital landed on its maiden flight at Mogadishu airport Tuesday. The Turkish Airlines flight, with a high level delegation from Ankara led by Turkish deputy prime minister Bekir Bosdag, was welcomed on landing in the anarchic seaside capital by Somali President Sharif Sheikh Ahmed.

“Today is big day for Somalia -- Turkish Airlines made its first official flight to Somalia,” said Somali government official Abdisalam Mohamud, adding that top leaders welcomed the flight to “commemorate the big event.”

Several Somali airlines, including Kenyabased African Express, fly into Somalia from neighboring nations, but Turkish Airlines’ proposed twice-weekly flights are the first commercial flights from outside the region. “The deputy prime minister of Turkey has officially opened the operations of the international carrier,” Mohamud added. Somalia has had no effective government since 1991 and in recent years Al-Qaeda-allied Al-Shabaab insurgents and other groups have taken an increasing hold on large parts of the country.

Security was tightened in Mogadishu ahead of the plane’s arrival, with the main roads in neighborhoods around the airport blocked by gangs of heavily armed policemen. “Security is a major issue in Mogadishu so that we are trying our best to assure that things go smoothly,” said Somali police commander, Colonel Mohamed Adan. “We are very happy to see this country gradually gaining international attention, a step on the road towards development,” Adan added.

The airline’s arrival was welcomed by Mogadishu residents, who said they hoped it would make it easier for relatives in the large Somali diaspora scattered around the world to come home to visit.

“Everybody is talking about Turkish Airlines,” said Hidig Ali, a resident of Mogadishu.

“This is a big deal, as it can help many people outside the country to come back and see their homeland and family.” “Turkish Airlines will encourage other international carriers to realize they, too, can operate in Somalia. It really is a major step towards development and we are happy today with Turkey,” said Shamso Agey, another resident. -AFP

A Turkish Airlines aircarft sits on the tarmac at Aden Ade International Airport on March 6, 2012 following the airline’s maiden-commercial-voyage into war-torn Somalia capital, Mogadishu. (AFP)

Eastern Libya declares semi-autonomous region

BENGHAZI: Tribal leaders and militia commanders declared a semiautonomous region in oil-rich eastern Libya on Tuesday, a move opponents fear will be the first step toward outright dividing the country six months after the fall of Muammar Gadhafi.

Libya’s National Transitional Council, the interim central government based in the capital Tripoli, has repeatedly voiced its opposition to the creation of a partly autonomous eastern region, warning it could eventually lead to the break-

up of the North African nation.

Thousands of representatives of major tribal leaders, militia commanders and politicians made the declaration in a ceremony held in the eastern city of Benghazi.

They vowed to end decades of marginalization under Gadhafi and named a council to run the affairs of the newly created region, extending from the central coastal city of Sirte to the Egyptian border in the east.

The gathering appointed Ahmed Al-Zubair, Libya’s lon-

gest serving political prisoner under Gadhafi, as leader of its governing council. Al-Zubair is also a member of the National Transitional Council.

Al-Zubair pledged to protect the rights of the region but also said his council recognizes NTC to run Libya’s international affairs.

The gathering also rejected an election law which allocated 60 seats for the eastern region out of 200-member assembly set to be elected in June. -AP

ALWATAN DAILY

WORLD

wednesdAY, march 7, 2012

China urges US to respect its interests in Asia BEIJING: China called on the United States to respect its interests in the Asia Pacific, as Washington seeks to boost its influence in the region.

China’s territorial disputes with countries including Japan, South Korea, the Philippines and Vietnam have intensified in recent years and its neighbors have accused Beijing of behaving aggressively.

“We are ready to work with the United States and other countries in this region to develop an Asia Pacific that enjoys greater stability and development,” Foreign Minister Yang Jiechi told a news conference on Tuesday, on the sidelines of the country’s annual parliamentary session.

“At the same time we hope the United States will respect China’s core interests and concerns.”

President Barack Obama unveiled a new US defense strategy in January aimed at countering China’s growing power, drawing strong criticism from Beijing which says it poses no threat to any other nation.

China lays claim to essentially all of the South China Sea, where its professed owner-

ship of the Spratly archipelago overlaps with claims by Vietnam, the Philippines, Taiwan, Brunei and Malaysia.

Beijing and Tokyo also have a long-standing dispute over an uninhabited but strategically coveted island chain known as Senkaku in Japanese and Diaoyu in Chinese, which lies between Japan and Taiwan in the East China Sea. Premier Wen Jiabao said Monday China must enhance the ability of its military to win “local wars”, a day after the government said defense spending would top $100 billion in 2012 - an 11.2 percent increase on last year.

The Asian giant already has the world’s largest armed forces and this latest double-digit increase in its defense budget has fuelled concern among its smaller neighbors Japan, Taiwan and the Philippines.

Yang also told reporters that China-US relations were “moving forward” and Beijing welcomed “a constructive role by the United States in this region.”

Territorial disputes over the South China Sea should be “properly resolved through negotiation”, he added. -AFP

Chinese Vice Premier Li Keqiang (center), seen here next to President Hu Jintao (left) and Premier Wen Jiabao during the opening session of the National People’s Congress (NPC) at the Great Hall of the People in Beijing, on March 5. (AFP)

tics against a group which tried to protest at Lubyanka Square, in front of the headquarters of the Federal Security Service, successor to the Soviet-era KGB. The police had told protesters not to attend those rallies which had not been approved by the authorities and prosecutors warned some opposition leaders not to step out of line.

Gandhi’s Congress flops in Indian state elections NEW DELHI: India’s Congress party trailed in fourth place as vote counting neared its end in Uttar Pradesh Tuesday, a bitter election blow to Rahul Gandhi who had staked his political future on reviving his party’s fortunes in the populous northern state.

Gandhi, scion of the Nehru-Gandhi dynasty that ruled India for most of its 65 years of independence, had campaigned tirelessly to revive his party in the politically crucial state where it has not ruled for 22 years.

The campaign, which thrust him into the rough and tumble of the state’s politics - even sleeping in villagers’ huts - was widely seen as a test of his fitness to take the reins of Congress from his ailing Italian-born mother, Sonia.

The Uttar Pradesh election was also seen as a measure of Rahul’s ability to emerge from the shadows of government and replace Manmohan Singh as prime minister if Congress and its coalition allies retain power in national elections due in 2014.

The socialist Samajwadi Party (SP) looked set to win the largest number of seats in Uttar Pradesh, where

Rahul Gandhi, a lawmaker and son of India’s ruling Congress party chief Sonia Gandhi, speaks with the media in New Delhi March 6. (Reuters)

US army recommends trial for Afghanistan suicide

Philippine quake cracks buildings, injures 10

Russian police detain a participant during an opposition protest demanding fair elections in central Moscow March 5. (Reuters)

said: “I was so hoping the regime would show generosity after winning.”

Witnesses said that although some protesters were hurt, and one said her arm had been broken, officers seemed intent on avoiding casualties at the main protest on Moscow’s Pushkin Square, often the scene of Soviet-era dissident protests.

But reporters saw police using tougher tac-

NEWS IN BRIEF

KABUL: US military investigators have recommended a court martial for four American troops over the suicide of their fellow infantryman who shot himself in a guard tower in southern Afghanistan. Pvt. Danny Chen from New York City shot himself on Oct. 3 after what investigators say were weeks of racial slurs, humiliation and physical abuse by his colleagues. The US military said on Tuesday that the four being recommended for court-martial are Staff Sgt. Andrew Van Bockel of Aberdeen, South Dakota; Sgt. Jeffrey Hurst of Brooklyn, Iowa; Sgt. Adam Holcomb of Youngstown, Ohio, and Spc. Thomas Curtis of Hendersonville, Tennessee. -AFP

Russian protesters fear Putin resorting to force MOSCOW: Russian opposition leaders accused Vladimir Putin of changing tactics to crack down on dissent after riot police detained hundreds of protesters challenging the legitimacy of his presidential election victory.

Black-helmeted police hauled away more than 500 people, including several opposition leaders, who attended unsanctioned rallies in Moscow and St Petersburg Monday or refused to disperse at the end of a rally that had been permitted.

Many including Alexei Navalny, an anticorruption blogger who has become a leading light of the protest movement, were quickly released but some faced the prospect of receiving short jail sentences Tuesday.

After three months of protests that passed off peacefully, the police intervention sent a clear signal that Putin is losing patience with the opposition and will crack down if protesters step out of line.

But the restraint shown by most police, even as they bundled protesters into vans, also suggested that Putin is determined not to give his critics the chance to depict him as a dictator ready to suppress any challenge to his authority.

“The use of force and detention of opposition politicians could have been avoided,” defeated presidential candidate Mikhail Prokhorov said in a Twitter message late Monday.

“It was a peaceful rally. I am outraged by the use of force against people who came to express their views. Today’s events at Pushkin Square broke the tradition of the recent peaceful protest rallies in the country.”

Ksenia Sobchak, a television host who has fallen out with Putin, her late father’s protege,

5

the population of 200 million people makes it larger than Brazil.

There was also mostly disappointing news for Congress from four other states that went to the polls over the past month. It was heading for a loss in Punjab and Goa and neck-and-neck with a rival in Uttarakhand, but was set to win in the far-flung northeastern state of Manipur.

“It has been a disaster for the Congress, it’s an even bigger disaster for Rahul Gandhi and the Gandhi family,” said political analyst Amulya Ganguli.

“They were banking on success in these elections, hoping to get at least four out of five states. It has gone exactly the opposite way. It shows that there is no charisma left in the Gandhi family.”

The party’s setbacks in Uttar Pradesh and Punjab could make it harder for Singh’s already weakened coalition government to pursue reforms that could shore up the country’s economic growth, which has slipped below 7 percent.

Battered by a string of corruption scandals and inflation, Singh last year was forced to shelve a flagship reform to open the supermarket sector to foreign direct investment (FDI) by global retailers such as Wal-Mart, in the face of protests from even within his government.

“Following the state assembly election results, the unpopular reforms might be postponed to some extent like FDI in retail and the deregulation of diesel prices,” said N.R. Bhanumurthy, an economist at the National Institute of Public Finance and Policy, a Delhi-based think tank.

“It breaks the confidence of the government.”

With partial results in for 398 of the 403 assembly seats in Uttar Pradesh, Congress was leading in just 34, according to the Election Commission. That was an improvement on the 22 it won in the last poll, but a far cry from the 100-plus it had predicted.

The Uttar Pradesh result means a return to power for Mulayam Singh Yadav, a former wrestler who first became chief minister there in 1989, when Rahul’s father, Rajiv, was still alive. However, his party may fall short of an absolute majority and may seek a coalition with Congress to rule the state.

Congress spokesman Abhishek Manu Singhvi defended Gandhi’s electioneering despite the disappointing results.

“Not even Rahul Gandhi’s worst enemies, political or otherwise, suggest that his leadership was lacking.

He was outstanding,” he said. “He’s gone to every nook and cranny, he’s provided the spirit, the euphoria, the leadership - if it doesn’t translate, then it doesn’t translate.” -AFP

The pattern appears clear: Putin will allow a few isolated protests, the place and time of which is agreed with the authorities, as a safety valve for disillusionment with his 12-year domination of Russia among mainly urban demonstrators.

He could also offer some conciliatory gestures to appease the opposition. In one such move, the Kremlin has ordered a review of 32 criminal cases including the jailing of former oil tycoon Mikhail Khodorkovsky and the refusal to register a liberal opposition group which has been barred from elections.

Several European countries have also signaled their concern over the allegations of cheating but at the same time underlined a desire to keep working with Russia.

International monitors said there had been some improvements from a parliamentary poll on December 4 which observers said was marred by irregularities, but the vote was still unfair and heavily skewed to favor Putin.

Independent monitoring group Golos said that, based on returns its observers had seen, Putin would have won if there had not been fraud with a bare majority of just over 50 percent. The official tally put him on almost 64 percent.

The opposition has scheduled its next big protest in Moscow for Saturday. This will test its ability to continue to attract large crowds now Putin has won the election without bowing to any of its main demands.

Putin has retained strong support outside the big cities. The opposition’s challenge is to unite mainly well-educated and relatively welloff Russians who want less corruption and more openness and democracy. -Reuters

DR Congo government resigns, says official

Democratic Republic of Congo Prime Minister Adolphe Muzito (left) and former minister Godefroid Mayobo at an extraordinary session of the National Assembly in Kinshasa on Feb.16. The government of the Democratic Republic of Congo headed by Muzito has resigned more than three months after legislative elections, a spokesman said March 6. (AFP)

KINSHASA: The government of the Democratic Republic of Congo headed by Prime Minister Adolphe Muzito has resigned more than three months after legislative elections, a spokesman said Tuesday.

Muzito “presented the resignation of his government” to President Joseph Kabila, said the outgoing government’s spokesman Lambert Mende.

“We are at the end of this legislature so the president must have his hands free to create a new government,” he added.

The vast central Africa country held presidential and legislative elections on November 28 following a campaign marred by violence and claims by opposition leader Etienne Tshisekedi of foul play.

Results for the presidential ballot were released in late December and returned Kabila who has been in power since 2001.

The polls were widely criticized as chaotic and riven with irregularities.

Kabila’s inauguration was largely snubbed by the international community.

The results of the legislative ballot were only announced on February 1, giving Kabila’s party and its allies control of parliament, albeit with a reduced majority. -AFP

MANILA: A moderately strong earthquake cracked buildings and knocked televisions and glassware from tables Tuesday in a central Philippine province, injuring at least 10 people and sending others rushing outside in panic, officials said. The quake came a month after 58 people died in a quake on another Philippine island. Renato Solidum of the Philippine Institute of Volcanology and Seismology said the quake with a preliminary magnitude of 5.2 struck Tuesday morning and was centered at sea just two miles (three kilometers) north of Masbate City on the island province of Masbate.

The quake, which was caused by movement in a local fault, was felt in nearby provinces. -AFP

Myanmar’s Suu Kyi woos army during campaign stop NAYPYITAW: Opposition leader Aung San Suu Kyi assured Myanmar’s military onTuesday that she seeks no confrontation with it as she ended a two-day campaign trip to the capital. Suu Kyi spoke Tuesday at two rallies on the outskirts of the capital, Naypyitaw, a stronghold of the ruling military-backed Union Solidarity and Development Party. Her National League for Democracy is fielding candidates for all 48 seats at stake nationwide in April 1 by-elections, including four in the capital.

The seats in Naypyitaw were vacated last year by members of the ruling party who took senior government positions: President Thein Sein, Vice President Tin Aung Myint Oo, Lower House Speaker Thura Shwe Mann and Agriculture Minister Myint Hlaing. -AFP

Thailand to offer compensation for slain Japanese BANGKOK: Thailand will offer 250,000 US dollars in compensation to the family of a Japanese cameraman shot dead during a crackdown on protests in Bangkok two years ago, Prime Minister Yingluck Shinawatra said Tuesday. Yingluck told reporters before leaving on an official visit to Japan that her government would send a letter of condolence to the family of Hiroyuki Muramoto, a Reuters cameraman.

“The letter is issued on behalf of the Thai prime minister to Hiroyuki’s family and to inform them of the compensation they are entitled to receive like others,” Yingluck told reporters. -AFP

Ethiopian rebels free two German tourists ADDIS ABABA: Ethiopian rebels said Tuesday they had released two Germans held hostage since January 18 after a gunbattle that killed five other adventure tourists in the remote Afar desert region.

The two were handed over to German embassy officials and local elders in the desolate northern Ethiopian region on Monday, the Afar Revolutionary Democratic Unity Front (ARDUF) said in a statement.

They were seized in a bloody attack on the slopes of the famed Erta Ale volcano.

Two other Germans, two Austrians and a Hungarian were killed in a gun battle between the rebels and government forces escorting the tourist group.

Since then, the Germans have been held in the harsh desert environment, one of the hottest places in the world.

In their statement, the rebels apologized to the unnamed pair and wished them a safe return home.

Ethiopian officials were not immediately available for comment.

The rebels said the Ethiopian government had frustrated their earlier plans to free the Germans by making movement in the area “impossible”.

The Germans were among 22 tourists trekking on the slopes of Erta Ale volcano when the shootout erupted.

The incident dealt a blow to regional tourism, after tourists were were kidnapped in Kenyan resorts months earlier

by Somali pirates. Ethiopia says the rebels attacked the tourist convoy, but the ARDUF said fighting broke out when Ethiopian troops protecting the tourist party fired on one of its patrols and blamed Addis Ababa for the deaths.

“The five innocent European tourists were killed by Ethiopian fire,” added the statement.-AFP

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ALWATAN DAILY

OPINION

wednESDAY, march 7, 2012

Who is responsible for educational deterioration?

Dr. Shamlan Yousef Al-Esa

W

e feel confused about the sea of statements that officials release about the importance of education and reforming education aside from preparing qualified human power to achieve the leading projects of the country especially the developmental ones.

Such statements don’t harmonize with the current policy of the Ministry of Education and it is unreasonable that the entire ministry and its minister are subject to the blackmail of MPs and the parents of students who reject results of exams just because their sons did not obtain high marks.

Teachers at the ministry of education at the present time are not the ones who make final decisions about exams. If students fail then they will demonstrate and stage strikes to impose pressure upon the ministry and MPs would immediately announce support of the requests of students and the minister becomes subject again to the

Reforming education requires seriousness and high ambitions from students themselves.

blackmail of MPs. Al-Qabas newspaper published a report last Sunday titled “teacher witnessed students cheating at different schools and cheating is patronized by the administration of schools”. The report indicates that teachers in both public schools and private ones counter pressures by the administration just to make students pass and to allow them to cheat in order to enable students to obtain high marks. The administration also asks teachers to arrange easy exams wherein such exams will never contribute in determining the real level of students. The report also said that teachers at private schools receive very low salaries

If your dress touches mine then I’ll fight you

and the parents of some students submit gifts to teachers just to make their sons pass.

The Head of the Arabic Language Department at a public school admitted that there are no clear instructions for allowing students to cheat but there is undeclared agreement for allowing students to cheat because the current educational system needs major reforms, adding that the ministry can impose tough proctoring upon students but if it does that then the passing rate in the final exams will never exceed 10 percent.

The phenomenon of cheating and enabling the academically challenged students to pass is available now

because I am a professor at Kuwait University and we can witness real weakness especially in terms of junior students or first year students at Kuwait University. Which in turn means that outputs of high schools are bad and a lot of students don`t deserve to study at university.

What could be done now to solve this problem, can we reform education?! Reforming education requires seriousness and high ambitions from students themselves. The families also should contribute in reforming education as the families that are interested in educating their sons will never impose pressures on MPs to call the ministry for enabling them to pass through raising marks or allowing them to cheat. We can`t reform education as long as the citizens depend on the state or the government in everything without exerting efforts for serving the country. As such, a lack of serious steps for reform will keep citizens as dependant ones who want to pass without studying and receive high salaries without seriously working!

BU QUTADA & BU NABIL I’ll open a clothes shop here

Ali Yousef Al-Matrouq

T

he title of this article is an old Kuwaiti proverb which is usually used for some people who make a mountain out of a molehill wherein they get involved in disputes out of trivial causes. The proverb says “if your dress touches mine then I`ll fight you”. We feel sorry as the proverb can be applied on the current parliament but we hope the parliament could change especially since its start is unpromising! We hope the MPs would recognize each other well and get closer to each other in order to avoid any disputes.

We hope to witness a counter result to what we witnessed at the beginning of the duty of the current parliament. We hope to see the extremist MP who might contribute in erupting disputes to become an MP who calls for pacification in maintaining healthy cooperation with all other MPs in order to enable the current parliament to prolong and complete its legislative term.

The distinguished speaker who has a long parliamentary experience is also expected to contribute effectively in pacifying all disputes.

However, democracy does not mainly serve the opinion of the majority as that would be arbitrary because the real kind of democracy means maintaining the rights of the minority as well.

Therefore, the current parliament has to respect those who were representing the majority in the former parliament and who are a minority in the current one.

If the Majority Bloc- which includes 35 MPs- coordinates with the other MPs to determine priorities and abandoning political outbidding in addition to working sincerely for serving the country. Only then, the current parliament will succeed in submitting positive achievements.

They also have to exert all possible efforts in assisting the parliamentary effort on serving Kuwait and the Kuwaiti people in order to achieve the development of social and security matters that the whole country is in search for.

Fighting corruption should become the first of the parliamentary priorities aside from bringing corrupt officials to justice, spreading the spirit of tolerance and enhancing the great social values that our ancestors were interested in. Laws should also be applied upon everyone and citizens have to abide by their duties and rights. Moreover we have to ignore any sectarian or tribal belonging and keep our interest primarily in belonging to Kuwait.

The people of Kuwait and particularly youths became more conscious due to the rapid spread of communication utilities. In addition to exchanging both information and opinions, such collective steps can contribute in eradicating differences.

The question is “what do we want more”, we live in a great country whose population of more than one million that enjoys great financial resources that increase more from one day to another. All what we need is cooperation to develop our country and thank God for His great blessings upon us.

Yeah, but all goods should be decent ... no underwear.... No nightdresses

I’ll open restaurants and a fast food restaurant

Alright, but restaurants should be decent ... they should include cabin sections and nobody should look at a person seated elsewhere

I will establish an entertainment project and rides for kids

Why doesn’t anyone invest in our country .... It must be because of our complicated laws

Alright, but they should be decent .... Women should not look at Mickey Mouse .... And the female smurf has to wear a face cover

No, man..... there are investors ..... just visit Jeleeb Al-Shuyukh area then you will find a duty free there ....

They steal everything and sell there ..... they are decent because men do not mingle with women

Mohmmed Thallab

mthallab@alwatan.com.kw

Arabs on the table of Condoleezza Rice Part 2 of 2

Abdullah Besharah

S

he talked about a date designated by a historic surprise. She said that the Israeli prime minister invited her to dinner alone, without advisers, in May 2008, complaining of slow negotiations, and saying that he would handle them personally, and that he will give Abu Mazen 94 percent of the West Bank on the basis of reciprocity and added that Jerusalem is the capital of two states, Palestine and Israel, and a mayor from Israel and his deputy from Palestine, while ensuring access to the holy places, with the return of five thousand Palestinian refugees on the basis of reunion, and forming an international committee for the management of the holy places including Saudi Arabia, Jordan, Palestine , United States and Israel.

She said that she started taking notes but Olmert prevented her claiming that it would be leaked, and continues that he wants the help of Washington to achieve these principles, especially with the IDF, which has applications on the security of Israel, and without the American role to remove the fears of the army, the deal will collapse.

Olmert insisted on the transfer of these ideas only to Abu Mazen. Rice noticed that they ate nothing and told Olmert that she will go to Abu Mazen the next day. She

left the hotel to speak with the special advisers and told President Bush that Olmert is determined to the solution, and could be killed because of that as was the fate of Rabin. She met Abu Mazen in a small room, but Abu Mazen said “what can I say to four million refugees, about the return of only five thousand?” Rice said “you should inform your worries to the Prime Minister of Israel, and negotiate with him”. She noted that the negotiations will take place in English without advisers, which weakens Abu Mazen, who doesn’t have good command of English.

In September, Olmert presented the map of the Palestinian state in which Israel will have 6.3 percent of the West Bank, which can be mitigated to 5.8 percent, with the commitment of the other principles on Jerusalem and refugees.

During the bilateral meeting, Olmert asked Abbas to sign on the map, but Abu Mazen requested to consult his advisers but Olmert rejected that. Later, Olmert announced that he would leave his post after his credibility faded before the Israeli public. The last attempt to establish a Palestinian state was during Abbas’s visit to Washington in November 2008, when President Bush advised him to approve the map presented by Olmert, but he refused. Rice talked a lot about President Karzai of

Afghanistan and said that he is haunted by conspiracy theories, which exists in the psyche of people from Afghanistan, as he complained of a conspiracy of NATO, Britain and all the allies.

Rice spoke about the Iraqi leader Al-Jaafari, the first Prime Minister of Iraq, and sees that he is not qualified to rule Iraq, and frankly told him to leave because the Iraqi people do not want him.

She spoke about Al-Maliki, who did not care about the complaints of Sunnis and saw that it was unjustified, and did not pay attention to her attempt to persuade him to address the concerns of the Sunni side, and that he has many fears of the intentions of the leaders of Sunnis. She said that her experience with the Iraqi leaderships did not develop according to her expectations, as each of them sought to support their own sects.

She allocated only two pages to the dramatic meeting with Colonel Gaddafi, where she began a journey from Portugal, whose foreign minister advised her to speak with the Libyan leader about Africa, and not to worry about his movements and actions.

She refused to meet with him in the tent, and insisted on a meeting in his office.

The meeting began with intensive photography, followed by a talk about Africa, Sudan, and the willingness

of Libya to facilitate the arrival of aid to Sudanese refugees. Gaddafi began shaking his head and looked up and asked her to tell President Bush to stop his efforts for the establishment of the State of Palestine and instead to seek to establish a joint state named “Isratine”. Then he dismissed two translators after she made observations which he did not like. But she did not say what the remarks were.

Gaddafi insisted that she must have breakfast with him. After having breakfast, he told her that he has a video about her and that he likes a song titled “Black Venus in the White House.”

Rice said that Gaddafi lives in a world of imagination, and that he does not hesitate to use any means to survive. She expressed disappointment of the meeting but she avoided the details.

The author said that the remark of the Leader of Singapore about America reflects the characteristic of the United States as the only country in which the American people live despite the differences between its components, as Secretary of Commerce Carlos is from Cuba, but he was naturalized in the 1950s, adding that there is no social and cultural fusion except in the United States.

I liked the book, despite the financial revenues aimed to be achieved by selling it.

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views

wednesDAY, march 7, 2012

The post-nuclear transition Jürgen Trittin Project Syndicate

T

he Fukushima disaster in March reminded the world, 25 years after Chernobyl, that nuclear energy is anything but clean, secure, and affordable. Unfortunately, another nuclear catastrophe was needed to trigger a fresh debate on the use of nuclear power.

Germany’s decision in June to phase out nuclear power by 2022 has provoked irritation among its pro-nuclear neighbors. Other European countries have yet to indicate whether they will follow Germany’s example; a world free from nuclear energy is hard for its supporters to imagine.

Europe’s economic and ecological future, however, depends upon the rising opposition to this high-risk technology, such as in Italy, where a recent referendum delivered a large popular majority against nuclear energy.

In Germany, the idea of a nuclear phase-out has been gaining support ever since the Chernobyl disaster. Over the past few decades, anti-nuclear activists, together with their political representatives in the Green Party, have succeeded in mobilizing hundreds of thousands of protesters.

In 2000, growing political pressure finally led to a consensus between the German government and energy companies, which agreed to limit the life span of nuclear-power plants to 32 years.

Chancellor Angela Merkel’s coalition government withdrew from this agreement in 2010, but Fukushima forced the authorities to reconsider - and to permanently end the use of nuclear energy. German energy policy now depends once more on the future deployment of renewable energy sources. The Renewable Energy Sources Act, for instance, introduced in 2000 by a Social Democrat-Green government,

In Italy, more than 90 percent of voters rejected Prime Minister Silvio Berlusconi’s plan for a return to nuclear-power generation, and the Japanese government recently announced that it plans to phase out nuclear energy in stages. has enabled the country to exceed all growth expectations in the alternative-energy sector, which now accounts for 20 percent of Germany’s total electricity consumption.

But, while Germany is now heading in the right direction, the security risks of nuclear power plants in neighboring countries, such as France and the Czech Republic, remain. There must be a general shift in both European and global energy policies. The current European stress tests of nuclear-power plants are a first step; but, as long as they are voluntary and under the operators’ control, they will be nothing more than political window dressing. For example, there are no plans to test any of the 143 nuclear power plants currently operating in the European Union for core safety risks, such as a terrorist attack or a plane crash.

The economic argument for renewable energy is also compelling. Nuclear power is an antiquated technology that requires billions of Euros in subsidies; so far, German taxpayers have contributed 196 billion Euros for this purpose.

A German government study has estimated that, between 2010 and 2050, Germany could save more than 700 billion Euros by relying on non-nuclear renewable energy instead of nuclear power or imported fossil fuels such as coal, gas, and oil. The expansion of renewable energy production also

holds great potential for boosting economic growth. Over the past decade, 370,000 new jobs have been created in the sector, and exports of renewable-energy technology are rising rapidly, totaling roughly 30 Euros billion from 2006 to 2008.

At the same time, it would be short-sighted to assume that fossil fuels, especially coal, are a profitable and sustainable energy source. First, increased reliance on fossil fuels runs contrary to the 1997 Kyoto Protocol’s targets for reducing carbon emissions, as well as to the EU’s own climatechange objectives. Moreover, fossil-fuel costs fluctuate wildly with oil prices, and the centralized nature of nuclear and coal-fired power stations creates distribution problems.

The last decade has shown that increases in renewableenergy production actually reduce its costs. Wind energy is now competitive with conventional power plants, while rising gas and coal prices and the steady decline in renewableenergy costs imply that, within a few years, fossil fuels will be even less attractive. Moreover, revenues from “homegrown” energy tend to remain where they are generated, while the import bill for fossil fuels would be eliminated.

All of this can be done without having to bear the immense risk and costs of a nuclear catastrophe. Indeed, the

Japan’s revenge of the Mandarins

idea of a “nuclear renaissance” is a myth. Nuclear accidents, public opposition, and high capital costs have already provoked a drastic drop in nuclear-energy investment; in the United States, no nuclear-power plant has been commissioned since the late 1970’s.

In Europe, the number of nuclear plants is declining, as old plants are decommissioned and public opinion in even traditionally pro-nuclear countries like France begins to shift: almost two-thirds of the French now believe that nuclear power stands in the way of an increase in renewable energy. In Italy, more than 90 percent of voters rejected Prime Minister Silvio Berlusconi’s plan for a return to nuclear-power generation, and the Japanese government recently announced that it plans to phase out nuclear energy in stages.

More needs to be done to accelerate the post-nuclear transition. More money from the EU budget now goes to nuclear research than to non-nuclear research and development, and more infrastructure funding goes to carbon capture and storage (CCS) and conventional energy than to renewable energies. The forthcoming negotiations on the EU’s 2014-2020 European budget are an opportunity to change direction and cut the funding for unpromising megaprojects like the International Thermonuclear Experimental Reactor (ITER) effort in southern France.

Shifting to renewable-energy sources will require enormous effort and major infrastructure investment. High-voltage transmission lines across the EU and storage facilities to overcome the problem of meeting basic energy demands will be crucial, as will decentralized distribution grids and higher investment in energy conservation.

Germany has taken the first step, but the transition to a fully renewable-energy-based economy must be a common European effort. * Jürgen Trittin is Chairman of the Green Parliamentary Group in the German Bundestag and a former federal environment minister

How all CDS are at risk of not paying out Felix Salmon Reuters

M

FILE- Japan’s Prime Minister Yukio Hatoyama (top second left) chats with Chinese Prime Minister Wen Jiabao (top right) and South Korean President Lee Myung-Bak (second right) during the working lunch with leaders of the Southeastan Asian Nations (ASEAN) in the southern Thai resort town of Hua Hin on Oct. 24, 2009. (AFP) Masahiro Matsumura Project Syndicate

E

ver since the huge earthquake that hit Japan’s Pacific coast at Tohoku on March 11, 2011, the country’s mass media has obsessively focused on the magnitude of the physical damage and the loss of life. Repeated broadcasts of traumatic video images of the great tsunami and the damaged nuclear reactors at the Fukushima Daiichi power plant have been seared into Japan’s collective memory.

One year later, the media will be sure to intensify its reports and broadcasts along the same lines, encouraging the Japanese public to become all the more determined to overcome the disaster. But the Japanese may already have fallen victim to an unforeseen pitfall.

What the Japanese public has endured over the past year is somewhat analogous to what Americans experienced following the terrorist attacks of September 11, 2001. Both events severely distorted public discourse. In the United States, the government employed massive propaganda to promote public support for the “global war on terror” that it was about to wage. Video images, particularly of the World Trade Center’s collapsing twin towers, fanned the flames of conflict.

In Japan, images of the earthquake/ tsunami/nuclear-plant disaster have been used to unite the Japanese public behind rehabilitation of damaged regions by bureaucrats, as well as behind continuation of the country’s decades-long juniorpartner status vis-à-vis the US, which the public rejected in the 2008 general election.

But, almost one year after the earthquake, Prime Minister Yoshihiko Noda’s government has made scant progress in post-disaster reconstruction and rehabilitation. Many evacuees continue to live in temporary shelters, and mountainous piles of refuse remain in the devastated areas. By contrast, private-sector actors quickly rebuilt major production facilities across the region, restoring crucial links in global supply chains.

Japan’s malfunctioning government, made worse by the inexperienced and ineffectual ruling Democratic Party of Japan (DPJ), is at the root of this incompetence. To be sure, the DPJ lacks a majority in the upper house, which has the power to veto major legislation, and the last two DPJ governments have suffered from four upper-house censure resolutions against

The DPJ’s rosy manifesto, stressing reform and economic recovery, convinced voters that Japan could return painlessly to its previous path of strong growth. cabinet ministers. But, even with its absolute majority in the lower house, the DPJ has been continually preoccupied with party infighting and political-crisis management.

Not surprisingly, the Japanese public has become utterly disenchanted with the DPJ, which came to power promising a clean sweep of the five-decade-long rule of the Liberal Democratic Party. Voters ousted the LDP from power in 2008 in the naïve belief that a change of government would somehow bring an end to the prolonged political and economic malaise in which the country had been mired since its real-estate bubble burst in the early 1990’s.

The DPJ’s rosy manifesto, stressing reform and economic recovery, convinced voters that Japan could return painlessly to its previous path of strong growth. Indeed, the DPJ identified the symbiotic relationship between the LDP and the bureaucracy - ties once regarded as enabling the country’s rapid post-war growth and reconstruction - as the root cause of Japan’s stagnation. Thus, the first DPJ prime minister, Yukio Hatoyama, made a specialty of verbally abusing Japan’s bureaucratic mandarins, even abolishing the council of administrative deputy ministers essential for government-wide policy coordination. That helps to explain why policy coordination was woefully lacking in the rescue, recovery, and reconstruction effort after the earthquake and the Fukushima disaster.

Hatoyama’s attacks did not spare the defense and foreign-policy mandarins who managed the US-Japan alliance, because they, too, were regarded as part and parcel of the LDP/bureaucratic power structure that was strangling Japan’s economy. For the mandarins, preserving their role in alliance management was a major source of power. As a result, Hatoyama also emphasized Japan’s need to become

7

more independent of the US within the framework of the alliance, while proposing a vague East Asian Community.

Nine months after the DPJ’s electoral victory, Hatoyama resigned, owing primarily to his bungling of alliance management, particularly the issue of relocating the US Marine Corps base on Okinawa.

He promised to remove the base from Okinawa, and, at the same time, was obliged by the countries’ bilateral agreement to build a replacement facility there.

After Hatoyama’s resignation, the succeeding prime ministers - Naoto Kan and Noda - backpedaled on reform efforts, both in alliance management and domestic policy. Nowhere is the return to bureaucratic/governmental symbiosis more conspicuous than in Noda’s emphasis on business-as-usual alliance management, or in his single-minded pursuit of doubling the FIVE PERCENT consumption tax necessary for protecting their mandarins’ fiefdoms, despite deepening deflation.

The sense of helplessness that now grips the Japanese public makes voters increasingly susceptible to political manipulation that emphasizes the need to rely anew on the bureaucracy for swift rehabilitation of quake-devastated areas, and that underscores the importance of the US military’s post-disaster rescue and relief operation. Revealingly, the DPJ government has reestablished the council of administrative deputy ministers that Hatoyama abolished.

Like Americans, Japanese will need some time, perhaps several years, until they become aware that they have been deluded. Until then, the mandarins have nothing to fear. * Masahiro Matsumura is Professor of International Politics at St. Andrew’s University (Momoyama Gakuin Daigaku) in Osaka.

y wonky post last week on how Greece’s default could kill the sovereign CDS market turns out to have been surprisingly popular, especially among policymakers who are worried about whether there’s a serious flaw in the CDS architecture. So today I had a fascinating chat with David Geen, ISDA’s general counsel, to double-check whether there was something I was missing. And it turns out that I was wrong: I wasn’t pessimistic enough. The problem I identified with Greece’s default isn’t just a problem for sovereign CDS: it’s a problem for all CDS. At heart, the problem is what happens when an issuer swaps out all of its bonds for some new bonds. There’s no reason at all why the new bonds should trade at a massive discount to par - indeed, issuers often like it when their new bonds trade at or near 100 cents on the dollar. But if the CDS auction happens after the bond exchange, and if all of the old bonds are exchanged, then holders of the new bonds are forced to tender new bonds into the exchange, even if they’re trading at 100 cents on the dollar. Which means that holders of old bonds could suffer a huge haircut in the value of their bonds, but still get no payout from their CDS. This has been an issue in the past. When Anglo Irish Bank restructured its bonds, it amended the old bonds to include a call option which allowed the bank to buy back every 1,000 Euros of bonds for 0.01 Euros. That was an effective way of wiping out the value of the old bonds - but it also risked serious damage to the CDS market, since in a CDS auction, the value of a bond is calculated as the price of the bond considered as a percentage of the outstanding principal - and the outstanding principal is considered to be not the face value of the bond but rather the amount of the call option. If Anglo Irish had done the exchange quickly, before a CDS auction was possible, then bondholders would have had to tender bonds with a call option at 0.01 Euros - which would mean that they couldn’t claim any payout on their CDS at all.

In the end, Anglo Irish took pity on the CDS holders, and staggered its restructuring so that there was enough time for ISDA to conduct an auction before the bonds got changed out of all recognition. But hoping that the issuer will act in a friendly manner is not exactly an optimum strategy - especially since, by definition, the issuer will be in the process of going bust.

This is a known issue. In a primer on sovereign state restructurings and credit default swaps dated October 2011, ISDA’s own counsel, Allen & Overy, said as much on page 20.

If an issuer has inserted a right to call at 20 percent, the outstanding principal would be considered to be 20 percent of the face value: if it were likely that the call would be exercised, the current value of a bond with a face value of USD 100 would be approximately USD 20, ie close to 100 percent of the outstanding principal. If an auction final price was based on this bond, a buyer of protection would receive only a marginal payment in settlement of its credit default swap, rather than a payment reflecting the full diminution in value caused by the restructuring.

The buyer of protection would also lose out in the more straightforward case where all deliverable obligations are redeemed prior to settlement.

This seems unsatisfactory at first blush, particularly as it is effectively the very thing for which protection is bought (the restructuring event) which thwarts the buyer.

This doesn’t just seem unsatisfactory at first blush; it is unsatisfactory. And there is no second blush. Essentially, CDS holders are reduced to hoping that the issuer will be nice, and structure the exchange in such a way as to let them get paid out. But there’s no particular reason why the issuer should do that, especially seeing as how the CDS holders were the people who were effectively shorting the issuer as it tumbled into bankruptcy.

Nearly all issuers in Europe have collective ac-

Nearly all issuers in Europe have collective action clauses in their bonds: any of them could ask their bondholders to agree to change the payment terms on all bonds so that call options were introduced or principal amounts reduced. tion clauses in their bonds: any of them could ask their bondholders to agree to change the payment terms on all bonds so that call options were introduced or principal amounts reduced. If a supermajority of bondholders did that, then the issuer could change the payment terms immediately, before a CDS auction could be held, and buyers of protection could find that CDS protection to be worthless.

In the past, ISDA has found a slightly kludgy way to deal with this. If you look at the documentation for the CIT auction in 2009, you’ll find this piece of crystalline prose: If, after the date that is two Business Days after the Notice of Physical Settlement Date, but prior to Delivery, a Deliverable Obligation specified in the Notice of Physical Settlement (or NOPS Amendment Notice, as the case may be) is redeemed and/or cancelled in whole or in part (either in accordance with the terms of the relevant Deliverable Obligation, or otherwise) and, in connection with such redemption and/or cancellation, holders of the Deliverable Obligation receive cash, securities, rights and/or other assets (whether tangible or otherwise) (in each case, whether of the relevant Reference Entity or of a third party) (together, the “Assets”) (such event, an “Asset Exchange”) then, notwithstanding Section 3.4, Buyer’s right to Deliver each relevant Deliverable Obligation shall, to the extent it is the subject of an Asset Exchange, be replaced by a right to Deliver an amount of Relevant Assets equal to, or greater than, but not less than, the Asset Entitlement Amount (together with any part of the Deliverable Obligation that has not been the subject of such Asset Exchange).

I’ll translate that into English for you: the auction might happen after your bonds have been exchanged into something else, which we’ll call Relevant Assets. If that happens, then you’re allowed to consider whatever Relevant Assets you got to be deliverables as far as the auction is concerned. Even if the Relevant Assets are equity rather than debt.

But there’s no indication that this kind of language is going to appear with respect to the Greek restructuring. And there’s no reason for CDS holders to believe that it will appear when bond exchanges happen. And there’s certainly nothing in the existing CDS boilerplate indicating that any such language should ever appear.

If you own protection on a credit, then, you’re very much in a world of caveat emptor. You can trade in and out of CDS and make a good living; these things are, first and foremost, trading vehicles. That’s why they’re more liquid than bonds. But if you have a strategy which involves actually getting paid out on your CDS in the event of default, then you should definitely worry that the payout might not happen, even if the event of default is clear and declared. What’s more, there’s really no good way to hedge that risk.

So far, the CDS market has managed to muddle through, when it comes to restructurings and bond exchanges. But it’s sure to blow up sooner or later.

And I’m far from convinced that ISDA and Allen & Overy are capable of reworking the standard documentation to make it more robust to these risks. * Felix Salmon is the finance blogger at Reuters. Views expressed are his own.

classifieds@alwatandaily.com

WEDNESday, march 7, 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

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Garmin GPS Tel:99226042

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

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Professional gardening services.

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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

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30-01/30-02

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

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

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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

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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

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Packing and moving services.

16-01/16-02

WDLR

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Paints and wallpapers, professional work.

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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

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contact Mr. Khaled Ph: 99619998 & 55619998

1/02-02/03

Items for sale

Tel: 9769364

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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)

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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.

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Baby Items in “Excellent Condition” For Sale

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miscellaneous

Mudarrib Nafais : Contact: 65553012

Tel: 93399180

Satellite

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- 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

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Baraka: Tel: 99881053

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Iraq sets deadline for Exxon on Kurdistan oil deals

BUSINESS

wednesdAY, march 7, 2012

m ar ket watc h KUWAIT 0.44% 6228

DUBAI

QATAR

OMAN

ABU DHABI

3.7% 1689

0.7% 8666

0.1% 5865

0.6% 2610

BAGHDAD: Iraq has set a deadline of the next few days for Exxon Mobil to explain its position on oil agreements signed with the autonomous Kurdish region, which the central government considers illegal, a government spokesman said on Tuesday. The Kurdistan Regional Government (KRG) announced in November the signing of a deal for six exploration blocs with Exxon, the first major oil company to deal directly with the Kurds in northern Iraq.

OIL MARKETS BAHRAIN

EGYPT

SAUDI

0.4% 1157

1.6% 5429

0.6% 7400

US Crude $106.22 $0.50 London Brent $122.76 $1.39 Kuwait Crude $120.87 $0.40 Information Courtesy: KAMCO

See page 10

CURRENCIES US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2781 Sell 0.2784 Buy 0.3651 Sell 0.3659

Buy 0.4386 Sell 0.4395

Buy 0.00343 Sell 0.003438

Buy 0.0741 Sell 0.0743

Buy 0.07571 Sell 0.07585

Buy 0.07653 Sell 0.07637 Buy 0.7374 Sell 0.73919

Buy 0.005532 Sell 0.005521 Buy 0.006488 Sell 0.006468

Prices in Kuwaiti fils As of March 6, 2012 Courtesy: KAMCO

Kuwaiti oil prices down to $120.87 on increased international production Oil policy coordination among GCC states crucial at present juncture, says oil minister

CAPITALS: The price of Kuwaiti crude continued dropping to 120.87 US dollars per barrel Monday, the state-run Kuwait Petroleum Corporation (KPC) said Tuesday.

The decrease of oil prices is due to the increase of international oil production, in midst of speculations of US economy being stable.

Meanwhile, Kuwait’s Minister of Oil Hani Hussein said on Tuesday that it is incumbent on Gulf Cooperation Council (GCC) states to consecrate their combined efforts into developing to the optimum their oil industries, especially at the present time, when the region is undergoing tumultuous changes with far-reaching consequences.

The press statement he made Tuesday was regarding the opening of a conference and exhibit on Gulf Oil, slated for March 9, 2012, being organized by an investment

group. In a press statement made on the occasion of sponsoring the Gulf Petroleum Conference & Exhibition (GPCE 2012) by KPC, which will be organized by Investors Group, Hussein said that KPC pays great attention to the development of human resources and developing skills and potentials in order to prepare efficient Kuwaiti workers who can bear the responsibility of achieving development.

Regarding the current state of the oil industry in Kuwait, Hussein emphasized that KPC continued on its course to ensure the easy availability of oil in the world energy markets, having in recent times become successful in spiking production to approximately three million barrels a day, and having begun operating earlier than scheduled an oil production facility in the north of Kuwait and having instigated the drilling of a number of new oil wells.

Additionally, Hussein noted that KPC has put its seal of approval on the final results of a study on increasing the production and export of low sulfur gas from the country’s refineries.

Furthermore, he revealed that a feasibility study on the third project on Olefins has been completed and was up for evaluation and said - on a different note - that final endorsement was attained from China on building a joint refinery in that country.

KSE ends trading in green with 27.1 point jump KUWAIT: Kuwait Stock Exchange (KSE) price index was green at the end of Tuesday’s session, it jumped up to 6,227.9 points, a good gain of 27.1 points. The weighted index meanwhile read 416.8 points, a rise of 0.9 points.

The trading session saw 8,374 transactions worth 62,383,370 Kuwaiti dinars with 707,405, 000 shares changing hands. Five of the sector indices were green. The biggest gainer of the day with an up of 112.9 points was the services index.

Top gainer share was that of Kuwait National Cinema Company, while top loser was Ajwan Gulf Real Estate Company. The trading began at Kuwait Stock Exchange (KSE) on Tuesday with the main indices in the green zone. By 9:36 am, the price index came to 6,205.4 points, an increase of 4.6 points, while the weighted index came to 413.6 points, a drop of 2.3 points.

Trades came to 1,847 transactions by the time of the reading, with value reaching KD 15 million and 157.6 million shares changing hands. -KUNA

UAE telco du Q4 profit rises 15% DUBAI: United Arab Emirates (UAE) telecoms operator du on Tuesday reported a 15.4 percent rise in its fourth-quarter net profit before royalty payments, beating analysts’ estimates, as the telco added more subscribers during the quarter. Du made a net profit before royalty of 497.4 million UAE dirhams (135.42 million US dollars), compared with a profit of 430.9 million dirhams in the same period a year ago, it said in a statement. It did not provide a net profit figure after royalty payments for the quarter.

Analysts polled by Reuters on average expected the firm to post a quarterly net profit of 270.7 million dirhams. Du has proposed a dividend payment of 15 fils a share, its first payout to shareholders, the company said.

The UAE firm was instructed to pay a royalty of 15 percent on its 2011 net profit, plus a further five percent of revenue to the government on its 2011 profit, the firm said in February. Du said the move resulted in a royalty payment of 715 million dirhams for the year, compared with 184 million dirhams for the year earlier period.

Rival Etisalat, which operates in 17 countries, usually pays 50 percent of its net profit in royalties, including money earned abroad.

Du said it added 278,100 net active mobile customers in the fourth-quarter, bringing total mobile customer base to 5.2 million.The company, which ended Etisalat’s domestic monopoly in 2007, said revenue was 2.4 billion dirhams in the quarter, up 17.9 percent from 2.05 billion dirhams a year earlier.

Du shares closed at 3.18 dirhams on the Dubai bourse Monday. -Reuters

Oil falls to $123, supply fears easing

In more news, oil eased towards $123 a barrel on Tuesday, as higher flows from Iraq and Saudi Arabia offset concern that sanctions on Iran would disrupt supply and push up oil prices.

At the same time, question marks over demand for oil were raised after politicians in China and the euro zone conceded the pace of economic growth would slow. Brent crude fell 58 US cents to $123.14 a barrel by 1226 GMT after climbing to a daily high of $124.39. US crude slid 60 cents to $106.12.

OPEC basket down

The Organization of Petroleum Exporting Countries (OPEC) daily basket price was down by 74 cents to reach $122.34 on Monday, compared to $123.08 last Friday, said the organization’s bulletin on Tuesday.

OPEC’s annual average price last year stood at $107.46.

The new OPEC Reference Basket of Crudes (ORB) is made up of Kuwait Export (Kuwait), Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and Merey (Venezuela). -Agencies

BLME signs 13.5 million pound development financing facility with Aitch Group Limited LONDON: Bank of London and The Middle East (BLME), the largest Islamic bank in Europe whose main shareholders are Boubyan Bank and the Public Institution for Social Security, has announced it has signed a 13.5 million Sterling pound development financing facility with Aitch Group Limited, the London-based residential and commercial property developer. This was stated in a press release on Monday.

The financing agreement is for a term of three years and has been secured for the completion of the innovative residential development of the Textile Building in Chatham Place, Shoreditch. Previ-

KUWAIT: Zain, the most innovative network operator in Kuwait, announced in a press release on Tuesday the ‘Zain Campus’ offer, which is the first service of its kind in Kuwait, targeting students.

Zain said that this new service re-affirms the company’s strategy to develop and offer innovative products, indicating that ‘Zain Campus’ aims to encourage the student community and youth to improve their academic lifestyles, by facilitating their ability to communicate and exchange information

ously the building was used as office space, but is now undergoing a complete transformation into 86 high specification residential units, with some commercial units included on the ground floor. Efforts have also been made to limit the carbon footprint of the building with a car share scheme and a cycle park.

Jervis Rhodes, Head of Corporate Banking at BLME, said, “BLME remains committed to funding high quality redevelopments in up-and-coming areas and this agreement is a good example. The rental market for this type of development in this location is very strong at the moment, due to the excellent

Jazeera Airways reports record net profit of KD 10.6 million Announces 10% bonuses shares

KUWAIT: Jazeera Airways Group announced in a press release on Tuesday its financial results for full year 2011, reporting a record 10.6 million Kuwaiti dinars in net profit for the year with an earnings per share of 0.048 Kuwaiti fils, a record KD 57.8 million in revenue for the year, up 36 percent from last year, and a record KD 14.9 million in operating profit for the year.

The results reflect the success of the company’s Turn-Around Plan implemented in second quarter 2010 and steered the company into continued profitability for the last six quarters, five of which had realized record-breaking earnings.The company also announced its fourth quarter 2011 results, reporting a net profit before tax of KD 1.4 million and revenues of KD 13.3 million.

Established in 2005, Jazeera Airways Group is a Kuwait Stock Exchange (KSE)-listed company with over 12,000 shareholders.

The company has a fleet of 12 fully-owned Airbus A320s, evenly distributed between its airline business, Jazeera Airways, and its leasing-arm Sahaab Aircraft Leasing. Sahaab has assets placed with Virgin America, Sri Lanka Airlines, and Jazeera Airways.

Jazeera Airways Group Chairman Marwan Boodai said, “The year 2011 was a record-breaking year despite the continued over capacity, the impact of political unrest on travel within our network, and an increasing fuel cost. Jazeera Airways today has a solid network, increasing load factors, reduced cost, and high aircraft utilization; in addition the aircraft leasing arm has assets deployed across the globe, from the US to the Middle East to Asia. Jazeera Airways Group today has a sustainable business model that has generated sustainable profitability quarter-onquarter for six quarters in-a-row.”

Zain unveils ‘Zain Campus’ targeting students Calls, SMS will be free on campus for 18 to 23 year olds

A woman walks past an artwork titled “Tides Turn”, constructed from eucalypt sticks and wire mesh by local artist Peter Collins, in central Sydney on March 6, 2012. Australia’s central bank left official interest rates on hold at 4.25 percent on March 6, saying a deep global downturn did not appear underway and the local economy was growing close to trend. (AFP)

with their peers. The new service, which will completely transform the way in which students and the youth segment communicate, will permit calls and text messages to be sent free of charge from inside campus grounds, allowing students at Kuwait University and private universities to communicate actively at no charge.

The service will be available to university students between the ages of 18 and 23, and provides free voice and text messages to them on campus between the hours of 8 a.m. and 8 p.m. Students can subscribe immediately to this service and take advantage of this special offer through subscribing to any of the ‘Wiyana Mix’ packages.

Zain is the first operator in Kuwait to intro-

duce this innovative service, which enhances communication amongst students while at the same time enriching their interaction and academic exposure.

‘Zain Campus’ will also allow participating students not just to benefit from free voice and text messages on campus, but will also put them in line to win exciting prizes from Zain, including the chance to win tickets to popular activities and programs that Zain will be organizing.

Zain has pledged to continue leading the way in innovations that improve the quality of life of all Kuwait residents, and has plans to introduce more nontraditional communications services that will benefit its customers significantly.

transport links, proximity to the city and the upcoming Olympic games.”

Henry Smith, Chairman for Aitch Group Limited, commented, “In these difficult times of obtaining funding for residential development, it has been a pleasure to deal with a bank so enthusiastic for the industry, transparent in their costs and committed to complete the deal within a tight time frame.”

Jervis Rhodes added, “At a time when the debt markets for property developers are being squeezed, there is a real opportunity for Islamic finance to offer property developers an alternative and competitive source of funding solutions.”

Islamic Finance industry to continue developing in France, says Salion Compiled by Al Watan Daily

PARIS: In 2007, oil prices pushed the French government to consider Islamic finance. The Minister of Economy, Christine Lagarde, asked Paris EuroPlus and treasury to assess and develop France’s potential to attract Islamic Finance.In his preview of the Islamic Finance Industry for 2012,Antoine Salion, Islamic Finance Advisor, Paris EuroPlus said in his piece titled, ‘France: seeking diversity’ that In the coming weeks, Chaabi Bank, the long-established French subsidiary of Moroccan Groupe Banque Populaire will open its Sharia compliant deposit account to small and medium enterprises (SMEs), thus addressing a latent need of small businesses for Islamic banking products. SMEs have voiced an important demand for Islamic products, as French Muslims are known for their entrepreneurship and represent an interesting customer base for Islamic banking. According to Salion, hopes are now high again that France will develop a sound Islamic finance market, but much remains to be done. First, the French Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards have yet to be distributed and spread.

Second, Chaabi Bank is not yet offering the most complex products, corporate funding and mortgages. Chaabi says it is aiming at a full set of products by the end of 2012, which seems realistic in light of the recent 10-year Murabaha home financing product. Third, wholesale banking and capital markets are yet to be developed.

Chaabi’s first French Islamic window should pave the way for international Islamic investment banks willing to penetrate the French market. In addition, the Sukuk market may also benefit from the current funding difficulties experienced by French international corporations, which could take advantage of the comprehensive French framework for Sukuk issuance and listing. Regarding Takaful Insurance, he described it as an immmature topic in France, even though synergies will appear evident with the rise of distribution networks for Islamic banking products.

In his conclusion he emphasized that, among the key 2012 drivers such as the coming presidential and legislative elections in May and June, the industry will keep developing in France thanks to sound foundations and strong potential. Salion believes that the election result only effect will be to influence the pace of the industry’s growth. It is worthy to mention that EuroPlus doesn’t only assemble expert bankers, but also industrial enterprises listed in the stock market and key players in the market.

10

BUSINESS IN REGION

ALWATAN DAILY wednesDAY, march 7, 2012

Iraq sets deadline for Saudi oil output falls to Exxon on Kurdistan oil deals 9.80 million barrels per day in February CAPITALS: Top oil exporter Saudi Arabia produced around 9.80 million barrels per day (bpd) of oil in February, down about 70,000 bpd from January’s daily average, an industry source familiar with the matter told Reuters on Tuesday.

“Production in February was around 9.80 and it will stay in the same range over the coming few months,” said the source.

Meanwhile, Saudi Arabia must reduce its reliance on crude sales revenues and develop its downstream industry to shield its economy from international market volatility, the kingdom’s oil minister said on Tuesday.

“Oil, as we all know, is volatile in terms of prices and production rates,” Ali Al-Naimi told a downstream oil industry conference in Saudi Arabia. Al-Naimi pointed to a sharp drop in crude prices from over $147 per barrel in July 2008 to nearly $35 a barrel a few months later and an accompanying fall in Saudi output from 9.5 million to 8.0 million barrels per day.

“In light of such unpredictable fluctuations, it is not appropriate

to depend on the production and export of oil as a basis for national income and sustainable economic development,” he said.

Al-Naimi said the kingdom produced many raw materials and petrochemicals but still did not invest enough in manufacturing finished products to generate jobs for Saudi youth.

“Raw, or half-manufactured materials are exported to the outside world then re-imported back into the Kingdom as finished products, thus depriving the country, the citizen and the national economy as a whole of a lot of important investment opportunities which have the potential to create new jobs,” he said.

Development of the Saudi petrochemical sector is a vital part of the government’s strategy to diversify the economy and reduce its dependence on crude export revenues, he said.

“Petrochemical industries have a major and important responsibility in this respect, to support and incentivize their related conversion industries,” he said in Jubail, where Saudi Aramco is building a petrochemical complex with US-based Dow Chemical. -Reuters

Gold falls below $1,690 per ounce as euro slides FILE - The Exxon Mobil refinery in Baytown, Texas is seen in this Sept. 15, 2008 file photograph. Iraq has set a deadline of the next few days for Exxon Mobil to explain its position on oil agreements signed with the autonomous Kurdish region, which the central government considers illegal, a government spokesman said on Tuesday, March 6, 2012. (Reuters)

BAGHDAD: Iraq has set a deadline of the next few days for Exxon Mobil to explain its position on oil agreements signed with the autonomous Kurdish region, which the central government considers illegal, a government spokesman said on Tuesday.

The Kurdistan Regional Government (KRG) announced in November the signing of a deal for six exploration blocs with Exxon, the first major oil company to deal directly with the Kurds in northern Iraq.

Iraq’s central government has said that deal could jeopardize Exxon’s contract to develop the supergiant West Qurna-1 oil field in southern Iraq. Officials say they are waiting for the US firm to reply.

“Exxon came to Baghdad last month and asked for more time to return with a reply on Kurdish deals and the government decided to give them a final deadline,” said Faisal Abdullah, a spokesman for Deputy Prime Minister for Energy Hussain Al-Shahristani.

“The government is waiting for Exxon’s answers to decide its final position towards the company and its deals with Kurdistan. The deadline expires in the coming few days,” Abdullah said.

Exxon Mobil late last month disclosed its plans to explore for oil in Iraq’s Kurdistan in the company’s annual report, breaking months of silence over the investment that has outraged Baghdad.

The KRG said the production-sharing con-

tract with Exxon was signed on Oct. 18, 2011.

The Iraqi government wants Exxon to make it clear whether it will proceed with the Kurdish deals or freeze or cancel them.

Exxon’s move into Kurdistan has drawn attention to tensions between Baghdad’s Arabdominated central government over who has the authority to develop oilfields in the Kurdish zone. The central government gives the Kurdish authorities 17 percent of federal oil revenue and insists on a monopoly on exports.

Shahristani, architect of recent Iraqi oil deals and a strong opponent of Kurdish energy autonomy, said last month Exxon could be blocked from participating in a bidding round for exploration deals in May because of its Kurdish deal.

Iraq’s oil and gas field have suffered from decades of neglect because of war and economic sanctions. In the past three years it has done a raft of deals with foreign oil firms, and more deals are on offer that would make it the world’s biggest source of new oil production over the next several years.

However, Baghdad has offered fee-for-service contracts rather than the production-sharing agreements which foreign firms consider more lucrative.

The Kurdish region has offered productionsharing deals to firms willing to do business directly with it, but before Exxon’s deal last year, only smaller firms had agreed to participate.

-Reuters

ADNOC seeks gasoline due to refinery work

DUBAI: Abu Dhabi National Oil Company (ADNOC) is seeking 25,000 tons of 95octane gasoline in a rare purchase due to maintenance at its Ruwais refinery which is set to last until mid-April, industry sources and traders said on Tuesday.

The state-owned firm wants the gasoline delivered from April 16-18 in a tender closing on March 7, with offers to stay valid until March 11.

Six units at the Ruwais refinery, the largest in the Organization of Petroleum Exporting Countries (OPEC) member United Arab Emirates (UAE), is under maintenance, with two units - a vacuum distillation unit and hydrocracker - under maintenance since Feb. 18.

The two units are expected to restart on April 8.

The crude distillation unit, with a capacity of 140,000 barrels per day (bpd) is expected to begin maintenance on March 9, along with three other units, and come back online on April 12, according to traders and industry sources.

The other three units are a catalytic reformer, kero hydrotreater and a gasoil hydrotreater which removes sulphur from diesel.

The Ruwais refinery has a capacity of 415,000 bpd and expansion work is underway to more than double that by the end of next year. -Reuters

Volkswagen Middle East increase sales by 84% DUBAI: Volkswagen Middle East has built upon the 21 percent sales figure increase in 2011 by announcing in a press release on Monday, a 84 percent sales increase in the first two months of 2012 compared to 2011.

The increase in sales has been boosted by the All-New Jetta, launched in May 2011, which has achieved a 100 percent volume increase on the previous Jetta model. The newly launched Tiguan and the Touareg, which is a flagship model in the Middle East, have also greatly contributed to achieving the growth to date this year.

Commenting on the success, Marcus Butros, sales director, Volkswagen Middle East said, “This early 2012 growth in sales represents the hard work and dedication Volkswagen has to bringing new models, tailor made to the region, which our customers want to drive. We are continuously monitoring and developing our customer service practices ensuring that the customer is always at the core of our business. We have progressed significantly and we intend to maintain this momentum throughout 2012 with the launch of new models across the region.”

Volkswagen Middle East will continue to strengthen its position in the sedan car segment in 2012, following on from the well received All- New Jetta. At the Qatar Motor Show, held in January this year, the new Passat made its Middle East debut and will be launched in June

this year. Following the Passat, the New Polo sedan will be launched during the second half of 2012 completing the sedan segment for Volkswagen Middle East.

The beginning of 2012 has not only achieved great sales success but it has also seen Volkswagen Middle East diversify and promote its “Think Blue” initiative, which is a concept that encourages being more responsible on the road, and more environmentally conscious in everyday life. As part of this campaign Volkswagen and Siemens has partnered in the Middle East creating an initiative that promotes mobility solutions for Siemens employees. This collaboration will further drive environmental awareness and behavioural change which will help shape the future of mobility in the UAE. Fuel efficiency is one of many innovative technologies that Volkswagen integrates into its models. The 2012 Geneva Motor Show, March8-18, sees the unveiling of a number of fuel efficient cars including the Cross Coupé, which is a concept car with TDI and plug-in hybrid capability demonstrating that Volkswagen is consciously developing its technology to incorporate environmentally friendly solutions.

The Geneva Motor Show also presents the world premieres of the first Golf GTI Cabriolet, the Polo BlueGT with cylinder deactivation which is as sporty as it is fuel efficient, and the Beetle and Passat with sporty R-Line equipment.

LONDON: Gold prices fell more than one percent in Europe on Tuesday, pushing through support at 1,690 US dollars an ounce, as jitters over whether private creditors will agree to a Greek bond swap deal and wider euro zone growth pressured the euro versus the dollar.

Platinum, palladium and silver were all caught up in the selling, falling more than two percent in gold’s wake.

Spot gold was down 1.1 percent at $1,687.86 an ounce at 1141 GMT, while US gold futures for April delivery were down $15.20 an ounce at $1,688.70.

The metal slipped to session lows as the dollar rose to a two and a half week high against the euro, with the single currency pressured by concerns about a Greek debt swap deal. Traders cited steady selling by macro funds.

Stock markets fell and the cost of insuring Greek, Spanish and Italian government debt against default rose on uncertainty over Greece’s debt restructuring and a worsening economic outlook, while safe-haven German Bunds rose.

Gold has recently failed to benefit from the safe-haven flows that helped push it to record highs last year as investors seek the safety of the dollar instead.

“Gold this year has been driven by exchange-rate mechanisms. Any dollar strength has not been positive for gold,” said Citigroup analyst David Wilson.

“At some point, if confidence over Europe evaporates, you would think that should be positive for gold, but you still have to keep an eye on the dollar-gold trade-off.”

The precious metal is extending losses after falling nearly four percent last week, the most since mid-December, after Federal Reserve chair Ben Bernanke disappointed financial markets when he failed to signal another imminent round of monetary easing.

If gold fails to push back above support at $1,690 an ounce, it is likely to decline towards the $1,649-$1,656 area, technical analysts said.

“In the near term... we sense that the market might need a period of consolidation and possibly another decline before it can trade significantly higher,” said Hong Kong Shanghai Banking Corporation (HSBC) in a note.

Chinese gold imports from Hong Kong dip

Data showed gold imports into China from Hong Kong dipped 15 percent in January from the previous month, reflecting slower sales during the Lunar New Year holiday. Hong Kong’s gold exports to China in 2011 tripled from a year earlier, showing China’s strong appetite for bullion investment.

Physical demand from number one gold consumer India firmed as prices dropped and as the rupee weakened, making dollar-priced gold cheaper for local buyers.

Silver also sold off in gold’s wake, down two percent at $33.30 an ounce.

The gold/silver ratio, or the number of silver ounces needed to buy an ounce of gold, rose back to 50.7 on Tuesday, after dropping to a five-month low at 48.4 last week, as silver underperformed gold in a falling market.

Platinum group metals were the biggest losers, however, coming under pressure from both the stronger dollar and concerns about global growth, which has a greater effect on industrial platinum and palladium than on gold.

Spot platinum was down 1.9 percent at $1,628.74 an ounce, while spot palladium was down 3.6 percent at $677.48 an ounce.

“Besides the general decrease in prices of precious metals, the restart of production at the world’s largest platinum mine - Rustenburg in South Africa - is weighing on the price,” said Commerzbank in a note.

“The strike meant that 120,000 ounces less platinum group metals were produced in recent weeks, which has caused the price of platinum to soar more than 25 percent since the beginning of the year.. allowing it to almost catch up with gold for a time.” -Reuters

FILE - Thai customers queue to buy gold at a jewelry shop in Bangkok on Aug. 9, 2011. Gold prices fell more than one percent in Europe on Tuesday, March 6, 2012, pushing through support at $1,690 an ounce. (AFP)

Only 25% of MENA respondents optimistic about their country’s current economy, reveals survey In Kuwait, 25% believe that the country’s economy is better than before; 28% believe that their personal financial situation is worse

KUWAIT: A recent Consumer Confidence Index survey conducted by Bayt.com, the Middle East’s number one job site, and YouGov, a research and consulting organization, has shown that the overall sentiment in the region is less than positive for the present time. However, optimism for the year to come remains comparatively high. This was stated in a press release this week.

Regional sentiment

Overall, there is a propensity towards less positive sentiment towards the present situation across the region. Only 26 percent of the respondents to the Consumer Confidence Index survey believed that their personal financial situation is better now than it was this time last year, and only 25 percent feel optimistic about the current economy of their country.

This is not considered to be a good time for business (according to 37 percent), with 43 percent stating that now is a ‘bad time’ to buy consumer durables. In terms of employment, almost half of respondents (49 percent) claim that there are ‘very few jobs’ available, yet of those who are currently employed, 26 percent state that their company has more employees than at the same time last year. At 66 percent, the majority believe that their salaries have not kept pace with the cost of living.

There is definitely hope for a more positive future however, as 52 percent of Middle East and North Africa (MENA) respondents believe that their personal finances will become better in a year’s time, and all countries expect

that business conditions will improve. Inflation continues to generate a negative outlook across the board, with the cost of real estate being badly looked upon in all countries. Only 23 percent of respondents are optimistic about the future growth of their companies in terms of employees, with all countries sharing a neutral opinion about their companies being able to keep up with staffing demands.

“The appraisal of the current situation is subdued across the board, in terms of economy, commerce and employment. This sentiment is echoed in most countries, however there is a considerably more positive outlook for the near future as people look forward to improved conditions all around,” said Suhail Masri, VP Sales at Bayt.com. “Bayt.com provides more than just an online portal for job-seeking convenience; we deliver substantial data regarding the region’s most important issues, giving employers and job-seekers alike an appraisal of the current situation and future expectations.”

“Given the current climate in the Middle East and, to an extent, globally, it is to be expected that sentiments for the present are low and that there is hope for a more positive future. The MENA region presents a mostly unified front in terms of opinions and aspirations, with an especially positive outlook for future financial and commercial conditions,” said Sundip Chahal, CEO at YouGov. In Kuwait

Kuwait respondents mostly feel that there is no change in their personal financial situation, when compared to the same time last year; 43 percent believe their situation is the same, 28 percent believe that their situation is worse, and only 24 percent state that things are better. A similar balance is true with regards to the opinion of the country’s economy -31 percent believe that it is the same as last year, 31 percent believe that it is worse, and 25 percent

believe that it has improved.

Sentiment is somewhat split in terms of business; 27 percent believe that this is a ‘neutral time’ for business conditions, 33 percent believe this is a ‘bad time’ and 30 percent believe this is a good time, while 36 percent believe that this is a ‘neutral time to buy’ goods and only 23 percent think it is a good time to do so. Employment conditions are not considered to be too favorable, with 38 percent claiming that there are very few jobs available; 31 percent of respondents say that their company has less employees now than it did this time last year (30 percent claim that they now have more colleagues). Salaries are considered not to have kept up with the cost of living, according to a massive 72 percent.

As ever, there is considerable optimism for the future in Kuwait, with 57 percent stating their belief that their personal financial situation will be better in a year’s time, while 49 percent hold hope that the country’s economy will also have improved. Business and employment conditions are expected to become more favorable by 58 percent and 38 percent of respondents, respectively. Despite this, only 20 percent are optimistic that their companies will grow in terms of number of employees, with 41 percent remaining neutral with regards to meeting staffing requirements. Satisfaction with career prospects, growth and job security remains neutral to negative; only 12 percent favor their prospects in the coming year, only 17 percent believe there will be the opportunity for career growth, and only 23 percent are confident in the security of their job. A 53 percent majority are dissatisfied with their current compensation.

Inflation will continue to have a negative impact upon the cost of living according to 35 percent, and the cost of property for rental or purchase is still creating a feeling of negativity according to 30 percent of respondents.

ALWATAN DAILY

MARKETS

Frail fundamentals, rising liquidity: where to invest? account and fiscal deficits. Brazil faces $169 billion of maturing debt. In Asia, trade is resilient but final demand is not yet offsetting developed markets’ consumption. China - set to grow at about eight percent, hampered by property-market weakness, capital outflows and trade links with Europe - needs to refinance $121 billion. India needs $57 billion.

Where will all this money come from? Global central banks. To avoid a credit crunch, pressures on interest rates, and disorderly defaults, monetary authorities in both advanced economies and emerging markets have injected massive liquidity, and will keep easing, by cutting rates and further engaging in asset-purchasing programs.

In the EU, the European Central Bank (ECB) has alleviated short-term sovereign and bankfinancing stress, and possibly averted the collapse of a major financial institution, via aggressive monetary expansion. First, it purchased about 213 ($280) billion euro of government bonds to contain borrowing costs for Greece, Portugal, Ireland, Italy and Spain. Second, it cut its refinancing rate to 1 percent. Third, to ensure smaller banks access to inexpensive liquidity, it broadened - by possibly as much as 700 billion euro ($923 billion) the pool of assets it accepts as collateral. Finally, through long-term refinancing operations (LTRO) it allotted 489 ($655) billion euro worth of threeyear loans to the banking system. On February 28, a second LTRO is expected to attract significant banks’ participation - between 500 and 700 billion euro. Further easing should be expected over the course of the year.

In the US, the Fed has committed to near-zero interest rates until late-2014, adopted a two percent inflation-target - which is likely to trigger further QE - and, via ‘operation twist’, is selling $400 billion of short-term government debt to buy longer-term securities. The Bank of Japan (BoJ) has kept its key rate at or below 0.5 percent since 1995 to counter price-deflation. In early-2012, it set a one-to-two percent inflation-target, and, by buying more long-term government bonds, it expanded its asset-purchasing program to 65 trillion yen ($833 billion) and possibly limited the appreciation of the yen. The Bank of England (BoE) is keeping its main rate at a record low 0.5 percent, and recently increased its government-bond purchases by 50 billion Sterling pounds ($79 billion), bring-

Alessandro Magnoli Bocchi Chief Economist Kuwait China Investment Company (KCIC)

KUWAIT: The 2012 outlook is fragile, but - in absence of shocks - most economies will muddle through. Global growth will slow to less than three percent. In the developed world, structural issues, modest consumption, political impasse, and fiscal restraint will keep growth below potential. Emerging markets will grow above five percent, but below-trend. Yet, financial needs are higher than ever: this year, eight trillion US dollars of sovereign and almost one trillion dollars of corporate debt come due.

In recessionary Europe, while over-indebted states and over-leveraged banks keep financing each other, most countries need capital to finance budget and trade deficits. In 2012 alone, Italy needs 499 billion US dollars, France $368 billion, Germany $286 billion, the UK $165 billion. Greece and Portugal are insolvent and need debt-restructuring to kick-start growth. European banks need to refinance 230 ($304) billion euro in bonds in the first quarter (Q1) of the year, and - given their subprime sovereign holdings - need between 115 billion euro (official stress-test estimate, by the European Banking Authority) and 300 billion euro (private-sector analysts’ estimate) to bring their Tier-1-capital-ratio to nine percent by end-June. The US - likely to grow at about two percent, hence unable to reduce unemployment needs $2.8 trillion, whilst its banks, still distressed by subprime mortgage assets, need capital to cover their European exposure. Japan - having suffered its first trade deficit since 1980, a 2.49 trillion yen ($32 billion) shortfall for 2011 - needs to refinance three trillion dollars.

In Emerging Europe, the Middle East and Latin America investment and demand will weaken.

Trade and investment, often intermediated by European banks, will suffer. In Eastern Europe, external debt is high, and accompanied by current

ing the total amount since the program began in 2009 to 325 billion Sterling pounds ($511 billion), roughly 20 percent of UK gross domestic product.

In emerging markets, central banks have been cutting rates. Brazil and India have been easing more aggressively than expected. Going forward, given slowing growth and global fiscal constraints, further monetary easing is the only policy-bullet left in order to try to reduce long-term interest rates, spur spending and investment, and make exports more competitive by weakening currencies. However, solving a debt crisis with more debt poses risks. The European Central Bank (ECB) massive liquidity provision might end up aggravating rather than reducing the interdependence of banks and sovereigns. In other words, monetary policy alone cannot save the day, it can only buy time by addressing liquidity constraints. If solvency is the issue - and sovereign and banks’ solvency is not yet a given - monetary easing can do little to restore growth.

Over the last five years, the combined balance sheets of the eight world’s main central banks (US Fed, People’s Bank of China, ECB, BoJ, BoE, Germany’s Bundesbank, Banque de France, Swiss National Bank) tripled from five to $15 trillion. Still, the global economy has yet to benefit, because banks play safe, and accumulate liquidity reserves.

To meet stricter capital requirements, EU and US banks sell assets and shrink their loan portfolios.

Instead of lending to firms and households the money they borrowed from the central bank - a move that would increase their profits, stimulate the recovery and reduce unemployment - they stockpile it back at central banks. In Europe, the financial sector is holding over 464 billion euro of excess reserves in the ECB’s 0.25 percent deposit facility, while lending growth is slowing sharply. In other words, the monetary transmission mechanism of credit to the economy is damaged. The risk is a credit crunch and a deceleration in economic activity, with falling inflation, precisely the conditions for further easing. The consequences of this self-feeding process are untested.

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

Company

Ÿ

High

Low

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

1,220

1,200 480 870 255 460 840 540

Kw Investment Commercial Facilit.

Int'L Financial Adv. National Invest.

Kw Projects Ahlia Holding Coast Invest.

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

Exch KW BH Int

112 275 63 182 345 15.5 69 28.5 112 118 35.0 130 65 35 42.5 39.5 96

485 890 270 460 850 550

Global Index - Banking

ź

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

33.5 68.0 186 70 73 55 56 134

110 265 60 174 340 14.0 64 28.5 108 116 34.5 126 61 33 41.5 37.5 96 190.0 99.0 29.0 64.0 182 70 71 55 51 130

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

450 -

450 -

Taiba Kuwaiti Holding

200.0 102.0

Global Index - Investment

Global Index - Insurance

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

242 138 -

238 130 1,440 325 162 890 200 116 -

330 168 900 200 124 -

ŷ ŷ ź ŷ ŷ ŷ ź

60 110 146 212 230 78 43.5 99 920 72 17.0 58.0 88 60 62 79 21.0 39.5 120 48.5 39.0 34.5 25.0 22.5 58 305

1,440

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

63 112 154 214 234 85 45.5 104 930 77 18.0 64.0 91 62 63 84 21.5 39.5 120 51.0 40.0 36.0 25.5 23.5 60 305

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

ŷ ŷ ŷ ŷ Ÿ ŷ ź ŷ ź

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

1220 485 750 650 870 260 460 850 550 325.43

112 275 63 182 345 14.0 69 25.0 130 28.5 230 112 116 50 52 34.5 130 65 34 71 41.5 48.5 64 26.0 244 51 38.5 51 39.0 96 200.0 100.0 23.0 31.5 66.0 29.0 186 255 114 31.50 70 73 55 55 64 42.50 134 85.62

300 610 450 148 220 122 40.50 44.15

63 110 146 214 32.5 234 118 85 44.5 120 100 920 77 17.5 64.0 89 60 63 80 36.0 81 21.0 87 17.5 39.5 57 75 120 48.5 39.0 35.0 25.5 23.0 134 134 220 60 305 55.10

238 136 420 136 1,440 325 162 890 200 116 395

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 29.0 186.0 255 114 31.50 65 71 51 52 64 42.50 132 84.52 300 610 470 148 220 122 40.50 44.66 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 55.66 240 128 420 136 1,420 330 172 900 196 120 395

Previous Close Change 184.01 0.36 27.10 6,200.80 Trading Activity Tran. Value(KD) Chng Volume

DTD 0.19% 0.44%

Last Bid

Last Ask

MTD YTD 1.88% 2.82% 7.12% 1.65% Div. Annual Close High Low P/E Yield

1,810,000 1,710,000 90,000 7,240,000 500,000 820,000 1,450,000 13,620,000

31 37 7 116 10 34 38 273

2,173,150 827,850 78,450 1,904,950 230,000 691,000 797,250 6,702,650

1,200 485 700 630 860 255 460 840 540

1,220 490 750 650 870 260 465 850 550

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

1,100 475 710 640 790 236 450 820 550 317.17

16.05 33.26 86.32 17.62 30.38 24.73 12.26 24.21 104.63 19.19

2 60,000 10 1,220,000 1 35,760,000 10 8,940,000 550,000 34,480,000 1.55 15,200,000 320,000 2 4,120,000 1,360,000 2 1.0400,000 2 11,360,000 18,480,000 4 7,360,000 1,440,000 -3 9,200,000 1.0 1,920,000 5 7,000,000 10.0 7,000,000 4.024,000,000 3.016,320,000 240,000 40,000 5 1,360,000 2 4 40,000 3 3,480,000 2 3,060,000 1.10 214,710,000

3 42 333 148 11 204 204 4 94 33 5 156 256 54 14 71 7 134 139 213 230 8 1 18 1 65 68

110 270 62 180 340 13.5 68 27.5 108 116 34.0 128 64 33 64.0 48 38.5 96 198.0 99.0 22.0 31.0 64.0 184 31 65 72 52 54 134.0

112 275 63 182 345 14.0 69 30.5 230 112 118 35.0 132 65 34 42.0 69.0 234 56 39.0 200.0 100.0 24.5 32.0 66.0 186 33 73 55 55 136.0

0.0% 8.0% 0.0% 0.0% 5.8% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 8.6% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.2% 5 1% 5.1% 0.0% 0.0% 0.0% 0.0% 0.0% 9.1% 0.0% 0.0% 0.0% 2.3%

112 275 67 182 345 18.5 69 25.0 130 36.0 230 122 120 50 52 35.5 136 65 35 71 44.0 48.5 70.0 26.0 244 54 39 51 41.0 96 212.0 130.0 25.0 33.5 96.0 29.0 186 255 114 32 70 73 60 55 64 42.5 134.0 85.62

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

42.86 12.79

2,516

6,640 327,300 2,195,000 1,602,360 187,150 508,320 1,012,760 9,120 451,720 158,480 13,880 1,462,800 1,179,400 248,760 60,400 354,160 184,320 1,367,520 706,480 769,440 1,073,160 44,560 2,800 97,240 2,200 189,240 403,600 14,618,810

10,000 10,000

1 1

4,500 4,500

295 560 445 112 28.0

300 590 470 148 132 43.0

6.7% 4.1% 5.6% 6.8% 2.7% 0.0% 0.0% 4.7%

325 610 520 148 220 134 40.5 44.80

280 550 450 102 220 102 40.5 42.22

15.67 14.06 9.19 23.37 296.83

2 37,960,000 -2 280,000 -6 5,100,000 2 80,000 40,000 2.0 80,000 5 1.59,440,000 1 1,700,000 -10 150,000 920,000 5 6,960,000 4.0 55,480,000 -3 15,840,000 -2 640,000 1,200,000 -1 4,760,000 0.51,120,000 160,000 80,000 -2 -4 27,040,000 2,240,000 4,800,000 320,000 1.53,680,000 0.5280,000 -5 750,000 0.56- 181,100,000

200 4 98 4 2 2 82 50 17 21 62 388 95 14 17 83 11 2 4 162 25 59 4 31 7 46

62 110 144 212 230 120 85 44.0 100 920 77 17.0 62.0 88 59 62 35.0 79 20.5 87 39.0 70 120 38.0 34.5 25.0 22.5 33 57 300

63 112 146 214 35.0 236 128 44.5 130 102 930 17.5 64.0 89 61 63 36.0 82 21.0 40.0 58 122 48.5 39.0 35.0 25.5 23.0 130 36 60 305

0.0% 0.0% 0.0% 9.3% 0.0% 4.3% 0.0% 5.9% 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%

63 118 152 214 37.5 236 130 85 52.0 120 104 940 80 20.0 64.0 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

48.82 14.11 26.15 19.08

1,490

2,338,000 31,280 760,400 17,000 9,280 6,520 421,040 173,040 138,850 69,680 119,680 3,404,280 1,400,800 39,360 75,240 388,640 23,600 6,320 9,600 1,329,520 88,440 170,280 8,040 84,520 16,520 228,750 11,358,680

3,540,000 3,580,000 42,500 30,000 400,000 75,000 20,000 140,000 -

61 109 7 3 16 6 1 6 -

847,080 478,920 61,200 9,800 64,920 67,000 4,000 16,400 -

236 134 420 134 1,440 325 890 200 114 395

238 136 430 136 1,460 330 162 900 206 118 400

0.0% 0.0% 2.4% 3.7% 4.5% 3.1% 3.1% 11.2% 5.0% 0.0% 5.1%

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

214 120 415 136 1,380 315 162 660 180 102 395

72.40

10 -5 -10 0.34-

-20 Ex-D 0.51-

-2 8 20 -5 -10 -10 4 -4 -

Temel Kotil, Turkish Airlines Global Chief Executive Officer

• 199 worldwide destinations in 2011, up 14 percent from 2010 • 79 destinations in Europe and 29 destination in the Middle East • 177 aircraft in its fleet, up 15.6 percent from 2010 Key Kuwait highlights: • Over 106,440 passengers carried from and to Kuwait in 2011, a net increase of 47 percent from 2010 • Flights increased from seven to 11 flights a week in 2011, with a daily flight from and to Kuwait • Load factor increased by 5-point to 68 percent by end 2011 • Kuwait market share increased to 2.41 percent by end of 2011, up from 1.45 percent in 2010 Turkish Airlines Kuwait General Manager Adem Ceylan said, “In 2011, our Kuwait operations have grown 83 percent, in comparison to a local market growth average of 10.6%. This is a significant milestone for us as we look forward to increase our weekly flights to 21, connecting it to over 190 destinations.”

Ceylan added: “We thank our trusted local partners, Kuwait’s travel agencies, for their tremendous efforts and cooperation, and sincerely wish that last year’s success becomes the foundation of a greater success story for the coming year.”

05 / 01 / 2012

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

For more Information please contact "Global" at (+965) 180 42 42 or www.globalinv.net Last Close 184.37 6,227.90 Last Prev.

Close Close

KUWAIT: In an event held Monday in Kuwait City, Turkish Airlines Global Chief Executive Officer (CEO) Temel Kotil announced that the airline witnessed a 14 percent passenger growth in 2011 in comparison to 2010. This was stated in a press release on Tuesday.

The CEO was speaking at Turkish Airlines’ event held under the patronage of Kuwait’s Minister of Communications Salem Al-Utheina and hosted by Kotil. The event follows a landmark visit by the CEO to Kuwait, during which he formalized a code-share agreement with Kuwait Airways. Kotil was speaking before an audience of industry professionals, civil aviation officials, government and over 200 members of Kuwait’s travel industry. Kotil said, “We have come a long way in the last 10 years. Turkish Airlines today is a global brand and one of the most innovative airlines in the world, serving 199 destinations across the world’s five continents with a fleet of 177 aircraft. The coming years will be as integral to the airline as the past 10 years as we continue to build our brand and continue to bolster a leading market position.”

Turkish Airlines is an award-winning airline. It was voted the best airline in Europe by Skytrax, it is the only airline in the world with at least four-star ratings for all classes of travel, it was voted the second in the world for the quality of its economy class in-flight meals, and it is a winner of Air Transport World’s Market Leader in 2010. Kotil added: “Our quality offering across all classes of travel is what truly makes us different, thanks to our strict quality assurance, top catering and state-of-the-art lounges in Istanbul’s Ataturk International Airport.”

Key highlights presented by CEO Temel Kotil: • 29 million passengers flown in 2010, up 16 percent from 2009 • 33 million passengers expected to be announced for 2011

Date of Closing Prices:

Date of Closing Prices: 06 / 03 / 2012 For more information please contact “Global” at (+965) 180 42 42 or www.globalinv.net Ÿ

Turkish Airlines CEO visits Kuwait, delivers global aviation update

Trading Prices of Kuwait Stock Exchange Date of Closig Prices: 6/03/2012

Trading Prices of Kuwait Exchange Trading Prices of Kuwait StockStock Exchange

Global General Index KSE Price Index

11

wednesDAY, march 7, 2012

95.21 13.95 1.49 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 44.26

0.00 5.44 12.93

12.80

16.93 5.48 16.98 40.87 23.21 0.00 16.62 30.70

6.22 24.77 12.18 5.21 49.02

23.07 18.82 0.00 0.00 18.03

17.16 6.58 7.78 148.12 118.86 12.12 25.82 22.99

ACICO

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Global General Index 96 United Industries Boubyan Petroch.

610 KSE Price Index

Gulf Glass HilalCompany Cement High Al Kout Ind. Project 350 1,140 National K-PAK Bank Gulf BankMaterial 495 Building Commercial 770 Nat. Ind.Co.Bank 320 Ahli Bank 640 Equipment Holding 75 Ahli United Bank 850 Mena Holding International Bank 248 Consumer Industries 460 Burgan Bank Kuwait Gypsum 890 Kw Finance House 216 Qurain Bank Boubyan 590 Salbookh Trading 52 Global Index - Banking 180 IKARUS Kw Investment Boubyan Int'L Ind. 83

94 610 Low 350 1,120 490 770 310 640 72 800 248 455 880 212 580 51 178 83

ŷ źŸ źŸ ŷ ŷ

ŷ ŷ ŷ ŷ Ÿ ź Ÿ Ÿ ŷ ŷ ŷ ź ŷ ź Ÿ ŷ ŷ ź Ÿ ŷ Ÿ 265 260 źŸ Commercial Facilit.

Global Index Industrial 41 40 ź Int'L Financial Adv. 1,120 1,100 NationalInvest.

Cinema 174 National 170 źŸ KwProjects Hotels 300 - Ÿŷ Kw 300 420 ŷź Agility 430 12.5 Ahlia Holding 13.5 Coast Invest.

53 52 57 52 źŸ Market Complexes -860 -850 ŷŷ Int'L Investor ZAIN Securities House - ŷŸ 82.0 78.0 Safat Energy Ind. & Fin. Inv.Group Educational - ŷŷ -Securities Group - - ŷŷ Indep. Petroleum Int'L Finance National Cleaning 150 138 ŷŸ 110 MARKAZ 108 132 Sultan Center 130 ŷź KMIFIC - ŷŸ Arabi Group 104 102 Int'L Inv. Group City Group - ŷŷ Aref Inv. Group - ŷ 2,060 2,040 Ÿ Wataniya Tele.

Investment Dar - ŷ 130 Kw Gulf Link 124 Ÿ Al AMAN Inv. ŷ Kw Cable ALOLA Inv.Vision 110 108 - ŷŷ Automated ALMAL Inv. System 50 49 - źŷ NAPESCO 365 365 Gulf Inv. House - ŷź KCPC Leasing 285 270 - ŷŸ A'ayan K.S.HInv. 32.5 - 31.0 - ŷŷ Bayan Eyas - ŷŷ GLOBAL Inv. Hits Telecom - 92 - 85 ŷź Osoul Inv. Al Safwa Holding 22.5 -21.5 ŷŸ GULFINVEST - ŷŷ KFIC Human Soft KAMCO - ŷź 77 Privatization Holding 79 Int'l Leasing & Inv. -- - ŷŷ Nafaaes Holding - - ŷŷ Nat. Int'l Holding -National Slaughter - ŷŸ Housing Finance 118 114 Aref energy MADAR -- - ŷŷ Safwan 26.5 Al Deera Holding 26.5 60.0 58.0 ŷŷ Gulf Petroleum Al Safat Inv. - ŷź 27.5 Gulf Franchising 28.5 122.0 Al Salam Credit & Group Collection - 114.0 - Ÿŷ 39.0 ź 41.0 Ekttitab Holding 18.0 ź 19.0 National Ranges Al Qurain Holding ŷ - ŷ Burgan Well Drilling 16.5 Sokouk Holding 16.5 ŷ 455 38.5 430 ź IFA H&R Al-Madina Finance 40.0 ź 1,520 1,520 Combinted Group ź NOOR ŷ Jeeran Holding Tamdeen Inv. 160 158 - źŷ Palms KW BH Agro Int'l Exch.

-- - ŷŷ 74.0 76.0 SafatKuwaiti TEC Holding Taiba - ŷŷ 96 91 Mushrif Trading Kuwait Syrian - ŷŸ U it d P j t United Projects -Strategia - - ŷŷ 310 ALAFCO 310 53 53 ŷź Kuwait China Inv. Al-Muwasat -- - ŷŷ Manafae Inv. Gulf NorthHolding Africa - ŷŸ 232 Mashaer 226 Amwal - ŷŷ 270 Oula Fuel 270 Al MasarComm.

- ŷŷ Future 124 Al-Imtiaz 132 78 źŸ Hayat Comm.

83 Global Index - Investment 72 67 źź Mubarrad Transport 59.0 KuwaitInsurance Resorts 54.0 Kuwait - ŷź Advanced Technolgy - - ŷŷ Gulf Insurance -Yiaco Medical -- - ŷŷ Ahlia Insurance Al Jazeera Airways 485 475 źŷ 112 108 Warba Insurance Al Soor Fuel 240 234 Ÿ Kuwait Re-Ins. First Takaful -- - ŷŷ Future Kid Ins. Wethaq -260 -255 ŷŸ K G L Insurance 90 Al Nawadi 90 źŸ Global Index - Insurance Alrai Media 48 - źŷ Kuwait R.E. 48 Zima Holding 100 - Ÿŷ United R.E. 100 -

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

204 LiveStock 194 190 -110 Pearl -116 DanaR.E. Al-Safat 224 224 Tamdeen R.E. United Poultry Ajial R.E. 1,460 1,460 Kw FoodStuff Massaleh R.E. United Food Arab R.E. 30.0 30.0 Kout Food Union R.E. Global Index - Food 98 96 ERESCO 860 840 Mabani Sharjah Cement 90 87 75 74 INJAZZAT RE 108 Gulf Cement 100 Inv. 71 11.5 68 UmHolding QuwainGrp Cement 12.0 -116 -120 Int'L Resorts Fujaira Cement 78 77 Commercial R.E Ras AlKheimah 70 65 Sanam R.E. ARIG 54 53 Aa'yan R.E United Gulf Bank Aqar Egypt R.E Kw Holding -330 Kuwait Holding -325 Bahrain Kw Ins. 59 AL Mazaya 60 Gulf Fin. House 65.0 61.0 14.0 Al Dar National R.E 14.0 42 Inovest Int'L Holding 44 Themar -188 Grand R.E Projects -190 Ahli United Bank -20.5 Tijara & R.E Invest Ithmaar Bank 21.5 Al Tameer Global Index - Non-Kuwaiti Arkan Al-Kuwait R.E 70 70 Markaz Real Estate Safat Global Al Argan Int'L Funds Investment 28.5 28.0 Abyaar Al-Bareeq Holding 23.5 23.5 Munshaat AFAQ 25.5 First Dubai 26.0 Al-Shamel KBT 27.0 27.0 Al-Safat Real Estate 16.5 30.0 15.5 25.0 Manazel 33 33 Ajwan Real Estate REAM Specialities Group 270 270 Mena Real Estate Masaken Al Moudon Inter.

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

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

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

Heavy eng. & Ship.

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

Global Index - Islamic

ŸŸ źŷ ŷ Ÿ ź ŷ ŷ Ÿ ŷ ŷ ź ŷ ŷ źŸ ŸŸ ŸŸ źź ŷ ź Ÿ ŷ ź ŷ ź ŷ ŷ ŷ ŷ ź źŷ ŷ ŷ ŷ Ÿ ŷ ź ŷ Ÿ ź ŷ ŷ ŷ ź ŷ ź ŷ ź ŷ ź ź ź ŷ ź ŷ ŷ ŷ źŷ Ÿŷ źŷ ź ŷ ŷ ŷ ź

ŷ ŷ ź ŷ ŷ ŷ ŷ ź ŷ

Last Close Previous Close DTD MTD YTD - Change 206 206 4.9% 224 196 23.76 202 206 -0.40% -1.55% 177.24 -0.70 -1.55% 1 1,240,000 24 118,080 96 176.5395 0.0% 102 94 34.89 94 96 600 945,000 27 -27.30 576,450 6105,726.90 10 5,754.20 5.7% 610 550 86.98 600 -1.50% -0.47% 610 -1.50% 1,400 1,400 1,400 1,220 21.05 1,400 2.9% Last Prev.

Trading Activity Div. Annual Close Last Last 216 216 216 206 11.21 224 4.6% Close Close Volume Tran. Value(KD) Bid Ask Yield High Low P/E Chng 350 10,000 350 1 Ex-D 3,500 350 350 7.76 5.7% 400 3,796,050 1120 1120 69 3,377,500 1,140 1,120 14.74 275 275 - 1,120 300 1,100 275 13.23 300 3.6% 7.3% 255 20 495 495 830,000 407,950 490 495 - 0.0% 510 490 33.95 224 Ex-D 224 228 224 27.09 216 0.0% 770 770 10,000 113 7,700 770 780 - 1.9% 790 770 88.62 25 700,000 320 295 222,600 320 260 20.53 305 2.5% 640 -20 3 217 6,400 660 10,000 64073 660 - 3.1% 66073 64051 17.34 68,440 70 73 920,000 34.99 0.0% 800 50 850 350,000 23 282,700 840 850 1.6% 850 790 29.68 33 33 33 33 0.00 0.0% 16 248 248 700,000 173,600 246 248 0.0% 255 248 23.59 102 102 102 93 0.0% 102 460 465 -5 500,000 10 229,750 460 465 0.0% 475 460 12.26 128 128 128 128 17.06 9.4% 890 -10 880 1,280,000 66 1,127,050 880 2.3% 900 880 25.07 870 212 2,860,000 216 614,240 222 210 112.24 8.71 218 0.0% 0.0% 214 590 590 607,850 -4 1,035,000 3341 590 580 590 590 57,480 51 51 25 1,120,000 51 41 51 52 0.0% 319.37 319.54 8,092,500 6,639,050 2.0% 319.54 318.41 18.61 0.17240 180 25,120 176 140,000 3 4 180 162 10.57 180 182 0.0% 106 106 -1 -4 10278 10682 0.0% 10688 10670 40.56 83 3,320 79 40,000 0.0% 260 265 -5 250,000 14 65,750 260 265 8.5% 265 260 12.09 1.72 170.49 168.77 170.49 163.04 10.81 3,238,550 15,802,500 361 2.7% 40 1,120 170 280 300 425 12.5 52 56 25.0 860 130 79.0 31.0 110 230 310 102 146 108 132 50 104 44.0 530 52 2,060 74 126 28.5 63 108 238 49 365 23 280 71 260 31.0 260 48.5 86 68 22.0 20.5 270 26.0 244 77 94 97 51 154 36 118 51 670 26.5 60.0 75 28.0 120.0 120 39.5 18.0 19.0 255 16.5 450 38.5 1,520 29.0 75 158 86 255 74.0 114 96 26.00 325 68 310 53 130 60 46.5 232 64 270 42.50 265 128 83 75.90 67

55.0 325 640 560 375 485 475 110 240 220 114 104 40.50 260 90 43.43

144 48 110 100 777.86 124 200 190 37.5 112 224 130 120 1,460 82 390 30.0 530 108 357.05 97 860 90 75 106 11.5 69 38.0 116 78 124 65 132 54 230 90 330 38.0 455 59 64.0 14.0 91 42 17.5 190 31.0 20.5 59 46.69 70 122 48.5 124 28.0 144 23.5 106 25.5 250 27.0 28.0 15.5 33 134 270 134 57 220 345 57 106 295 1,860 49.73 36.0

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

41 1,020 172 280 295 430 12.5 53 53 25.0 860 130 77.0 31.0 110 230 310 102 142 112 136 50 99 44.0 530 52 2,040 74 122 28.5 63 108 238 49.5 375 23 270 71 260 31.0 260 48.5 89 68 21.0 20.5 26.0 270 244 78 94 97 51 154 36 112 51 670 26.5 60.0 75 28.5 112.0 120 41.5 19.0 19.0 255 16.5 455 39.0 1,520 29.0 75 160 86 255 74.0 114 91 26.00 325 68 315 53 130 60 46.5 222 64 270 42.50 265 130 78 76.02 72

56.0 325 640 560 375 485 475 118 236 220 114 104 40.50 244 85 43.63

144 49 110 99 775.67 120 204 190 37.5 110 234 130 120 1,440 82 390 30.5 530 108 352.82 98 850 89 73 102 12.0 70 38.0 120 77 124 70 132 55 230 90 325 38.0 455 63 64.0 14.5 91 42 17.5 188 31.021.5 59 46.37 74 122 48.5 124 28.5 144 24.5 106 26.0 250 27.0 30.0 16.5 40 134 275 134 57 220 345 58 106 290 1,860 49.75 36.0

-1

100 -2 5 - -5 -1 3 2.0 --4.0 --4 -5 20 4 - -1 -10 10 - - -3 1 --1 - - -6 - - 0.58.0 2.01.0-5 0.5- -5 2.0- -5.0 - --5 - 10 - - -5.0 2 0.12-5 1.0-- -8 Ex-D 4 - 16 0.19-5 -1 1 2.19 4

1,680,000 5,000 1,040,000 110,000 1,930,000 7,040,000 1,280,000 14,960,000 3,230,000 36,000,000 - - 9,200,000 680,000 1,080,000 160,000 295,000 14,840,000 500,000 320,000 10,000 800,000 1,840,000 - 22,160,000 38,000,000 - 6,040,000 - - 780,000 - 240,000 4,160,000 4,080,000 11,180,000 1,920,000 7,040,000 480,000 120,000 10,640,000 70,000 80,000 - 5,920,000 3,320,000 - 890,000 200,000 - 1,460,000 10,000 - 1,240,000 1,400,000 40,720,000 9,040,000

13 20 2 5 4658 22 218 79 317 - - 221 1842 -7 49 287 14 4 -1 58 22 - 222 203 - 78 - - 33 - 273 50 212 24 60 5 12 93 13 4 - 89 66 - 217 - 32 -1 - 3826 558 151

15 640,000 - - - - 550,000 120,000 631 120,000 -6 - - 179 7,960,000 40,000 120,000 61 1 80,000 9 920,000 2,697 196,310,000 105 3,100,000 12 520,000 22 800,000 232 13,500,000 3 100,000 2,500 1 1 80,000 14,302,500 255 320,000 8

-4 -2 10.020 0.54.23 -1 10 1 1,935,000 5734 2,680,000 2 120,000 24 8,340,000 143 1569 0.52,000,000 3,760,000 -1 -8 - -4 240,000 3 1 240,000 17 1,000,000 -5 4 -1 200,000 50,000 4 Ex-D 11 440,000 -4 42,080,000 380 1 80,000 0.5- 74 7,280,000 1,760,000 2 23 - -1 -46 5,360,000 71,550,000 781 0.32 -4 320,000 2 - - - - 12 0.5- 2,720,000 1.080,000 1 0.5240,000 3 Ex-D 35,040,000 4 2.0240,000 3 1,200,000 8 1.080,000 1 8 220,000 - -5 -8 - - - -1 240,000 6 47 5 2,110,000 0.02- - 53,085,000 - 332 -

Ex-D

-

-

242 -10 13,220,000 93.0 - 154 128 140,000 6 65 470 -20 50,000 2 65 150 - - - 540,000 1,460 -40 2,500 112 335 8,374 212 - 707,405,000720 Close 230,000 19 Prev. Close 180 193.64 193.32 106 -2 80,000 3 190.35 460 190.31 -

569.03

569.55

67,160 40 5,550 960 177,720 168 33,000 295 816,000 90,920 420 12.5 67,280 832,480 5155 - 850 2,777,700 2,865,560 79.0 - - 300 1,327,400 144 73,920 106 140,760 130 -96 16,600 606,950 2,040 1,869,360 124 27.0 54,920 108 15,840 49 3,650 21 223,150 280 255 58,760 31.0 - - 240 1,958,440 64.085 835,320 -22.0 - -76 470,720 - - - 134 91,160 116 - - 6,360 26.0 246,720 59.0 114,400 27.5 1,305,280 - 118.0 77,080 130,040 18.0 18.0 242 7,920 16.0 52,650 435 419,440 38.5 106,400 1,520 12,680 15672 - -81 441,720 74.0 313,600 -96 310 - 63 275,900 305 10,600 52 - 120 334,640 232 2,700 265 - - 246 157,920 114,400 124.083 2,702,550 628,200 -

36,440 - - 262,850 13,200 28,400 - 2,049,750 3,600 13,200 3,840 92,000 19,983,210 383,920 104,680 153,360 1,522,000 22,400 3,650 2,400 1,679,010 31,160

1,656,950 237,720 8,960 865,600 23,960 260,760 28,120 18,520 67,400 10,720 16,400 26,160 2,634,440 1,120 311,560 330,960 112,400 4,797,960 22,400 - - 76,880 1,880 6,160 946,080 6,640 19,240 2,600 59,400 - 13,520 610,850 4,151,200 -

-

55.0 300 510 365 460 470 108 240 - - 260 83 140 48 99 -

122 200 188 - 110 126 110 1,440 510 112 95 86089 7189 11.5 104 35.568 77 114 120 53 325 13.5 9063 - 42 30.0 188.0 70 116 28.0 23.5 110 25.0 24.5 28.0 15.5 - 270 29 21849 55 29084

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-

3,111,120 -17,800 122 22,550 455 - 150 68,640 1,420 3,550 310 62,383,370 165,600 Change 710 178 0.31 8,480 104 -0.04 435

-0.52

40

0.0%

3.6% 1,040 172 0.0% 280 6.7% 0.0% 300 425 0.0% 9.4% 13.0 5256 0.0% 0.0% - 860 0.0% 23.3% 0.0% 0.0% 80.0 33.5 - 0.0% 0.0% 0.0% 330 9.7% 0.0% 0.0% 146 110 132 9.3% 0.0% 0.0% 106 0.0% 560 0.0% 0.0% 0.0% 2,060 2.4% 0.0% 126 0.0% 29.5 0.0% 0.0% 11066 0.0% 10.5% 50 - 0.0% 5.5% 365 0.0% 24 1.8% 285 0.0% 6.0% 32.5 - 0.0% - 0.0% 3.8% 0.0% - 86 0.0% 0.0% -22.5 0.0% - 0.0% 0.0% 23877 0.0% 0.0% 0.0% 102 0.0% 54 - 0.0% 5.2% 0.0% 118 0.0% 0.0% 670 3.3% 0.0% 27.0 60.0 0.0% 0.0% 28.5 0.0% 120.0 130 0.0% 0.0% 39.0 0.0% 18.5 0.0% 20.0 0.0% 250 0.0% 16.5 0.0% 0.0% 445 0.0% 39.0 4.6% 1,540 0.0% % 77 0.0% 3.8% 160 9.3% 27091 5.1% 0.0% 75.0 0.0% 0.0% 27 - 0.0% 9 2% 330 0.0% 9.2% 73 3.2% 310 0.0% 53 160 0.0% 5.4% 61 47 - 10.8% 0.0% 69 270 0.0% 0.0% - 280 0.0% 9.4% 128.0 - 0.0% 12.0% 67 2.4% 0.0% 58.0 6.2% 0.0% 325 0.0% 610 4.5% 375 5.2% 2.7% 500 480 9.1% 0.0% 114 242 0.0% 2.7% 110 106 0.0% 0.0% 43.0 - 0.0% 1.9% 90 4.7% 5.6% 142 0.0% 49 0.0% 120 0.0% 0.0% 100 11.6% 126 0.0% 202 192 10.0% 0.0% 37.5 4.5% 112 0.0% 224 - 4.5% 0.0% 0.0% 130 1,480 4.5% 6.1% 85 405 1.3% 0.0% 31.5 3.8% 570 6.5% 118 3.9% 0.0% 98 87090 0.0% 5.6% 7690 0.0% 9.4% 12.0 106 0.0% 0.0% 37.069 0.0% 0.0% 0.0% 79 120 8.1% 0.0% 65 124 5.7% 0.0% 54 0.0% 0.0% 91 230 9.1% 0.0% 40.5 330 0.0% 7.7% 60 0.0% 14.5 0.0% 0.0% 9464 5.5% - 42 0.0% 5.3% 33.5 190.0 0.0% 0.0% 57 0.0% 3.9% 74 0.0% - 0.0% 126 0.0% 28.5 - 0.0% 0.0% 25.0 0.0% 0.0% 25.5 0.0% 255 3.2% 28.0 0.0% 0.0% 29.5 0.0% 16.0 0.0% 33 3.7% 130 2.6% 275 0.0% 32 51 0.0% 0.0% 0.0% 57 - 0.0% 0.0% 0.0% 295 - 1.1% 0.0%

48.5

232 93.0 130 70 465 -70 1,440 340 216 720 DTD 190 0.16% 108 -0.02% -

-0.09%

0.0%

0.0% 0.0% 0.0% 0.0% 2.2% 7.7% 3.3% 0.8% 4.6% 3.0% 4.59% 2.4% 13.9% 5.6% 0.0% 4.3%

42 40 990 1,120 174 170 280 280 305 295 430 340 13.5 12.5 5458 5241 25.0 25.0 900 840 130 130 79.0 45.0 36.0 31.0 110 110 230 230 295 345 102 102 146 110 116 108 108 136 50 5084 104 44.0 44.0 530 530 52 52 1,920 2,060 74 74 95 126 28.5 28.5 11268 10863 230 238 51 49 340 395 23 22 260 305 71 71 260 260 31.5 31.0 260 260 48.5 48.5 132 68.0 68.054 14.0 23.5 20.5 20.5 26.0 26.0 270 280 24481 24461 94 9490 104 51 51 154 154 36 3691 118 51 51 520 670 26.5 27.5 30.0 74.0 75 75 16.0 28.5 99.0 120.0 120 140 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 29.0 29.0 89 15674 162 25586 25591 74.0 57.0 114 114 104 2680 28 335 270 68 68 280 315 53 55 130 130 60 60 47 47 172 232 64 64 265 305 42.5 42.5 300 265 132.083 128.070 76.32 72 75.90 51

44.0 56.0 325 325 640 640 560 560 345 390 520 485 410 480 118 110 270 236 220 220 134 114 104 114 40.5 40.5 260 218 44.80 92 43.43 80

116 156 49 48 110 110 100 99 777.86 744.62 120 128 200 208 182 222 37.5 37.590 114 234 224 126 130 130 120 1,420 1,500 82 82 340 390 30.5 30.0 500 570 108 108 365.22 345.74 100 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 74.0 40.5 14.5 14.0 91 91 17.5 17.5 31.0 31.0 59 59 47.16 40.74 78 70 1,220 1,220 48.5 48.5 144 124 29.0 28.0 24.5 23.5 26.0 25.5 28.5 27.0 16.5 15.5 134 134 32 32 220 220 57 60 295 270 49.8649.73-

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232 260 130 128 470 450 158 150 1,460 1,420 340 335 212 222 710 740 MTD 180 1.98% 180 104 116 2.07% 460 460

1.18%

19.18 88.93 12.13 14.15 1.33 0.00 13.17

23.89 0.00 19.66 0.00 25.70 0.00 53.09 0.00 13.33 0.00 0.00 0.00

11.89 6.94 9.75 0.00 11.97 9.19 317.52 32.31 0.00 13.80

12.64

0.00 116.80 9.60 0.00 0.00 16.65

5.53

0.00

0.00 71.64 98.16 16.62 0.00 3.10 8.28 7.35 22.77 11.92

10.83

60 55 60.55 43.00

5.17 7.80 7.66 22.89 0.00 16.17

5.19 10.01

3.85 16.97 25.05 12.90 12.06 9.91 8.47 17.37 16.76 296.83 11.59 6.86

6.47 12.60

12.86 37.20 12.83 12.38 22.21 17.83 16.20

5.72 11.56 25.40 9.84 15.28 11.31 39.65 5.29

21.70

0.00 14.56

9.92

26.32

35.93 7.50 8.10 42.61 4.15 10.17

19.44 64.43

10.69

11.37 0.00 5.38 27.28

20.67 9.93 23.07

9.27

18.82 63.06 0.00 11.03 0.00 16.27

14.44

70.58 18.38

10.13 6.49 8.02 14.82 193.84 96.15 YTD 10.91 2.16% 23.15 0.12% 26.77

1.25%

STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY wednesday, march 7, 2012

April 21, 2009 March 06, 2012

4% 6%

2% 6% Oman

113

111

2%

-1%

-4%

-6%

-2%

90

GCC Best Performers

Saudi

95 6-Dec-11 85

6-Jan-12

6-Feb-12

Dubai

-4%

6-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

MENA Best Performers 1

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

MENA Indices Highlights Country (Index)

Index Level

% Chg.

YTD

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

Index 7,400 Level

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

2,610 5,250

-0.6% -4.0%

QaUAUAE Qatar (DSM Index) (ADSM Index)

8,666 2,695

-0.7% 0.6%

Ku Kuwait (KSE Weighted Index)

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

OmOman UAE(MSM (DFMIndex) Index)

417

1,689 406

5,865 1,745

BaQa Bahrain Qatar (BSE (DSMIndex) Index)

1,157 5,590

Jo Jordan (Amman General Index)

1,980

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

5,429

5,478

1,681

11,396

463

1,226

2,825 482

10,621

4,726

1,094 546

Tu TunisiaClosed (Tunis SE Index)* * Market

3,282

52 Wk High

0.6% % Chg.

0.2%

2.8%

5.1% 0.4%

0.0%

-

2.2%

-0.1%

-0.4%

-

-

0.9% -

Mkt.386,241 Cap. USD million

224

68,961 264,263

-1.2% 12.8%

8,892 5,148

7,682 2,137

83 122

124,141 69,783

1 196

17,326 65,352

1,754 787

6,416 5,860

1.1% -18.8%

49.9%

0.7%

-6.8%

8.5%

152

1,921

4,224

10,785

5,044

2,551

1,425

2.4%

1.2%

513

328

1,164 465

-3.3%

14,635 4,785

4,059

23.6%

739

407

-0.7%

-7.2%

2,119

13.6%

3,418

-

9,406

-

1,043

-

2,837

-

4

1

4

9,500

1.68

1.60

8.07

1.29

3.64

7.67

1.56

6.52

0.90

12.71

2.15

9.45

59,990

1.18

18.36

3.95

14.69

8,507

2

1.44

16.55

2,528

1.67

6.47

2,079

0.86

8.67

6,576

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

OMR 0.720

GCC Worst Performers

MENA Worst Performers

AED 0.40

UPPUnion Properties

120

118

QAR 51.60 SAR 22.95

225 Saudi Industrial Inv. Grp.

101 Riyad Bank

115

SAR 24.70

-6.4%

110

239,569,815

229,525,135

703 Zain - Saudi Arabia (KSA)

343,553,085 159,063,582 119,955,261 156,339,726

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

97,126,838

NBKNational Bank of Kuwait (KUW)

88,742,222

3050.SSE Southern Province Cement Co.

1050.SSE Banque Saudi Fransi

Turnover (SAR) 950,653,691 1211.SSE Saudi Arabian Mining Co. 898,506,593 4280.SSE Kingdom Holding Co. 860,834,020 4220.SSE Emaar the Economic City

23Saudi Kayan Petrochemical Co. 70Zain - Saudi Arabia

6-Jan-12

6-Feb-12

S&P GCC Large/Mid Composite

596,567,966

42Emaar the Economic City

6-Mar-12

Close

9.45

% Chg.

5.6%

18.25

5.5%

54.00

5.4%

105.00

3.5%

46.50

2.2%

Worst Performers

43Dar Al Arkan Real Estate Dev. Co.

100

64,280,166

2350.SSE Saudi Kayan Petrochemical Co.

Highest Turnover

105

-6.8%

Turnover (USD)

201 Basic Industries Corp.

(KSA) 422Saudi Emaar the Economic City (KSA)

1,448,598,039

-6.7% -8.9%

253,473,854

235 Saudi Kayan Petrochemical Co. (KSA)

13,776,076

Turnover (SAR '000)

Market Cap. (SAR '000)

111

-9.2%

Turnover (USD)

MENA Highest Turnover

7,354 / 5,916 2290.SSE Yanbu National Petrochemicals Co.

Tadawul Index 52 week High / Low

% Chg.

-6.5% -8.6%

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

1.50

Advance/Decline Ratio

5.5%

8.0%

1.16 SARAED 48.00

SAR 13.70

GCC Highest Turnover

93% 7030.SSE Zain - Saudi Arabia

% of stocks trading above 1yr avg. price

5.6% 8.6%

3.25 -13.1% -7.1% KWDAED 0.265

7,400 (0.6%)

Tadawul Index (% Chg.)

5.8% 8.8%

AED 0.45% Chg. -9.0% Close

EMAEmaar Properties (UAE) Best Performers

Summary

8.5% 9.8%

8.0%

Close

DEYDeyaar Development Co.

KFI Kuwait Finance House (KUW)

Rebased Performance

95 6-Dec-11

QAR 21.60

0.88 201 DFM DubaiBasic Financial Market 1.74 Saudi Industries Corp.

9.50

10,652

33,782

SAR 18.25

SAR 9.45 QAR 6.35

1.89 FAC ART Arabtec Holding 1.37 Commercial Facilities Co. 1.62 QIIK Qatar International 0.88 238 Rabigh Petrochem. Islamic Bank

13.78

62,027

2

0.80 1.52

9.26 8.85

63,640

67

10.14 9.99

1.09 1.77

10.62

18,727

1

2.00

PB1.46

10.88 6.87

26,897

235 Saudi Kayan Petrochemical Co.

BKMBankMuscat

PB

11.65 7.29

15,024

KWD 0.182 OMR 0.703

QGTQatar Gas Transport Co.

PE 14.20 8.88 10.24

63,249

46

Trailing

13.05

18,373 37,413

KWD5.60 0.320 SAR

NINNational Investments Company GEC Galfar Engineering & Contracting 703 Zain - Saudi Arabia KCB Al Khaliji Commercial Bank

Trailing

35,353 98,547

20

1,572

12,800

1,033

4.2%

3,587

2,246

2,903

2.5%

22 305

1,129 4,230

12,109

230 718

5,419 1,433

1,433 12,627 5,628

-0.7%

1,301 316

PE

102,791

29 2,183

3.0% 6.6%

-0.6%

Turnover 3,673 USD million

2,293 4,130

-0.1% 1.9% 1.6%

396

Mkt. Cap. USD million

2,775 10,090

24.8% -0.2%

0.4% 3.9%

467

525,916 Wk Low

Turnover USD million

8.6% 9.3%

-3.7% 1.8%

-0.1%

52 Wk 7,354 High

15.3% YTD

52 Wk Low

% Chg.

AED 1.49% Chg. 12.9% Close

NICNational Industries 3 428 Kingdom Hldg.

Co. Co.

Period's Liquidity 1 Ratio (PLR x)*

-1

Close

4 TAMTamweel

Abu Dhabi

95

Qatar

Abu Dhabi

-3%

-4%

Tunisia Abu Dhabi

0%

Kuwait

Oman

Bahrain

Palestine Palestine

Abu Dhabi

0%

100

-2%

-2%

Saudi Dubai Dubai

Return DailyDaily Return (%)(%)

105

Kuwait

Saudi

Bahrain

Qatar Saudi

Dubai

0%

Qatar Oman

105

100

0%

Qatar

2%

Morocco

111

110

Lebanon Oman

110

110

1% 4%

Kuwait Kuwait

113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Egypt Jordan Jordan

115115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

586,352,141

20Saudi Basic Industries Corp.

Close

33.50

% Chg.

11.10

4250.SSE Jabal Omar Development Co. 3020.SSE Yamama Saudi Cement Co.

-1.5%

-1.3%

10.60

-0.9%

55.00

-0.9%

16.25

-0.9%

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

1 Alinma Bank 2 Almarai Co.

1 Arab National Bank

1 Bank AlBilad

Close 77.50

-0.8%

31.70

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

78.00

12.85

Low

Turnover (SAR '000)

77.00

147,923

12.60

484,609

31.50

11,464

24.10

20,885

9.90

950,654

63.00

71,020

106.25

104.50

0.0%

26.40

25.80

18,411

2.2%

46.50

45.70

5,469

10.60

-0.9%

11.10

10.40

596,568

16.25

-0.9%

16.50

16.05

78,381

11.10

-1.3%

10.95

34,430

24.35

155,213

50.00

30,458

26.10

10.05

4 Jabal Omar Development Co.

High

-0.2%

105.00

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

Daily

32,089

24.20

4 Emaar the Economic City

-0.6%

12.65

1 Bank Al Jazira

1 Banque Saudi Fransi

% Chg.

46.50

63.50

151.75 43.20

25.00

26.00

50.75

187.50

-0.6%

0.5% 0.8%

32.00

24.50

10.50

63.75

2.2%

155.00

149.00

28,776

0.2%

43.20

42.70

63,296

1.8%

0.4%

0.0%

0.3%

33.50

-1.5%

98.00

2.1%

11.45

25.30

26.10

51.50

187.50 34.00

14.55

235,760

23.15

0.0%

22.80

64,774

18.80

5,459

22.75

0.7%

18.90

-0.8%

38.70

0.0%

18.25

34.30

105.00

5.5% 1.8%

22.80

19.15

18.50

38.70

34.60

6,573

22.30

77,419

17.25

898,507

33.60

20,778

46.20

12,422

51.00

169,382

38.30

44,700

3.5%

106.00

101.00

-0.9%

55.75

54.50

49,566

-0.2%

54.00

5.4%

9.45

23.30

31.70

13,507

46.20

55.00

32.20

5.6%

47.00

54.50 9.65

9.05

860,834

26,945,000

48.5%

7,260,000

50.00

37.50

-7.0%

10.5%

10.70

5.90

-0.9%

44.2%

16.45

11.10

-1.2%

11.40

7.05

-2.6%

93,351

10.00

1,122

63.25

54,923 4,798 191

148.50

1,472

45.10

3,058 6,261

29.80

600

2,213 342

206

6.05

46.30 85.50 29.55

0.5% 0.4% 2.2%

-4.2%

6.1%

42.8% 38.6%

21.0%

33.7% 9.0%

25.4% 6.1%

1.7

79.7%

9,010,000

nmf

33.1%

37.1%

32.7%

73.8%

45.1%

46.2%

32.4%

49.9%

96.00

49.30

2.1%

36.1%

98.8%

32.60

25.70

-1.2%

8.1%

19.7%

12.85

21.1%

11.6%

17.1%

-2.7%

6.5%

14.0%

-9.3%

-1.0%

6.0%

5.0%

3.6

1.6

11.6

-1.5%

87.75

1.2

33,629,465

22.30

34.00

21.2

12.4

3.5

16.0%

-1.9%

8.9%

44.0

PB

2.3

-10.6%

164.50

24,150,000

15.8

23.9

42.40

56.75

22.20

18,975,000

Trailing

PE

7,830,000

-16.1%

26.50

7.5%

17.3%

20.65

14.75

14.85

7.1%

119

16,001

-0.3%

15.3%

54.0%

-1.4%

116,250,000

38.3%

31.5%

15.75

-9.9%

Market Cap. (SAR '000)

35.3%

-4.0%

112.50

14.60

8.8%

16.95

24.55

26.60

-0.7%

11.5%

12 mths

27.20

862

5,772

33,566

-1.9%

YTD

707

192.75

96.50

9.05

-4.0%

% Change

83.75

35.18

292

74,298

67.25

on high

105.75

359

54,259

33.30

Low

304

185.00 101.00

0.6%

12.90

1,333

102.25

32.20

38,139

80.75

34,563

0.7%

99.00

1,907

52-Week

High

25.70

586,352

102.00

Volume ('000)

1.5%

10,854,000 44,450,000

nmf

10.0

1.6 0.7

1.2

8.7

2.4

9,105,000

17.7

10.0

24,080,910

9.9

2.2

15,102,750 41,135,294

21,900,000

39,000,000

45,675,000

46,875,000

30,987,500

8.2%

306,000,000

9.8%

60,832,270

nmf

nmf

nmf

12.4

10.6

11.4 nmf

10.5

1.7

1.6

2.7

1.3

1.6

5.7

1.8

2.2

14,994,000

18.0

4.6

10,650,150

10.5

1.4

27.4

1.2

2,804

27.20

17.30

-14.9%

21.8%

33.8%

10,417,500

288

24.60

15.55

-23.2%

17.0%

-5.0%

10,395,000

-1.5%

14.5%

7.2%

77,400,000

10.1

1.7

3.4%

22.1%

72.1%

14,700,000

16.4

5.6

3,430 50,449

23.20

19.15

17.75

15.50

-1.9%

-4.7%

15.5% 4.9%

16.6%

19.5%

42.3%

13.5%

28.0%

1,160

39.30

33.00

130

101.50

59.50

899

83.25

47.80

-33.9%

-21.4%

5.25

5.6%

70.3%

608

268

3,211

91,191

33.70

46.50

53.25 8.95

23.70

36.10

41.60

1.8%

-0.6%

1.4%

26.7%

22.7%

15.1%

27.1%

62.9%

19.7

1.7

14.7

1.2

8,341,667

11.8

27,375,000

nmf

17,150,000

34,650,000

14.4

12.0

11,137,500

15.2

13,230,000

nmf

30,375,000

9.6

1.5

1.8

2.2

2.0

3.3

2.9

3.1

STOCKS WITH NBK CAPITAL

13

ALWATAN DAILY wednesday, march 7, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,228 (0.4%)

KSE General Index (% Chg.)

115

417 (0.2%)

KSE Weighted Index (% Chg.)

56%

% of stocks trading above 1yr avg. price

111

110

1.18

Advance/Decline Ratio

NINV.KSE National Investments Company AREFENRGAREF Energy Holding Co.

Highest Turnover

95 6-Dec-11

6-Jan-12

6-Feb-12

S&P GCC Large/Mid Composite

5.4%

0.275

3.8%

0.180

2.3%

Worst Performers Turnover (KWD) 2,777,700

Zain Kuwait ZA

6-Mar-12

5.8%

28,606,831

Market Cap. (KWD '000)

100

8.5%

0.118

62,213

Turnover (KWD '000)

% Chg.

0.182

467 / 396 IKARUS.KSIkarus Petroleum Industries Co.

KSE Weighted Index 52 week High / Low

100

0.320

6,523 / 5,694 FACIL.KSE Commercial Facilities Co.

KSE General Index 52 week High / Low

105

Close

NICBM.KSENational Industries Co.

N National Bank of Kuwait

2,173,150

N National Investments Company

1,602,360

K Kuwait International Bank

1,904,950

A The Commercial Real Estate Co.

1,400,800

NRE.KSE

Close

National Real Estate Co.

0.146

% Chg.

-4.0%

ALTIJARIA The Commercial Real Estate Co.

0.089

-3.3%

BOUBYAN. Boubyan Bank

0.550

-1.8%

SULTAN.KSSultan Center Food Products Co.

0.132

ALAFCO.KSAlafco Aviation Lease and Fin. Co.

-2.9%

0.310

-1.6%

KSE Weighted Index

Quotes Company Name

Close

A Agility

0.425

T Al Themar Intl. Holding Co.

0.087

A AREF Energy Holding Co.

0.118

A Al Ahli Bank of Kuwait

0.650

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

B Boubyan Petrochemical Co.

-

-

-

-

-

-45.7%

-21.9%

-5.1%

0.485

0.450

-1.1%

0.455

0.112

1.8%

0.180

JAJazeera Airways

0.475

-

1.4%

0.244

-21.9%

327

1,220

0.395

0.255

-30.4%

0.480

828

1,710

0.580

0.470

0.430

53

120

0.500

0.285

0.108

452

61 25

0.178

0.0%

0.485

0.475

-

-

140

0.630

K Kuwait International Bank

0.260

0.0%

0.270

0.255

1,905

7,240

K Kuwait Projects Co. (Holding)

0.345

0.0%

0.345

0.340

187

550

P Kuwait Portland Cement Co.

0.890

-1.1%

0.920

-1.1%

1.220

0.0%

N National Industries Grp. Holding

0.238

-0.8%

N National Real Estate Co.

0.146

-4.0%

0.216

1.9%

M Mabanee Co.

M Mena Holding

0.033

N National Bank of Kuwait N National Industries Co.

N National Investments Company O Oula Fuel Marketing Co.

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

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

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

Z Zain Kuwait

0.320 0.182 0.270 0.214

-

8.5% 5.8%

0.860

-5.3%

-11.8%

204,247

nmf

0.0%

-1.0%

-33.3%

0.236

-25.7%

0.425

0.295

-18.8%

0.660

0.192

-16.5%

5,100

0.168

0.056

-13.1%

0.182 0.154

0.174

1,602 3

0.146

760

0.212

614

0.130

141

0.088

1,401

2.040

607

0.230

-

-

0.216 0.132 0.091

2.060

0.860

8,940 10

1,080

0.146

15,840

0.092

80

295

2.060

3,230

1.420

-7.0%

439,160

11.7

5.8%

-4.8%

308,234

nmf

110,766

-7.2%

0.6

13.1

1.1

109,723

21.2

10.0%

-2.9%

76,405

-3.3%

15.6%

29.0%

163,298

0.0%

6.2%

25.6%

1,038,307

1.7%

0.0%

-35.8%

2.1 0.9

nmf

87,310

17.6

88,400

nmf

3,704,480

0.8

0.8

nmf

24.5

-9.6%

-9.3%

1.4

nmf

89,019

237,600

0.1

38.6

-

25.6%

-4.4%

2.3

159,471

0.9%

-39.4%

0.8

2.2

21,780

47.5%

0.0%

1.3

15.9

-35.0%

0.0%

13.7

4,828,425

5.8%

1.7%

2.0

1.3

1.7%

-43.1%

-13.3%

12.2

3.6

-15.8%

14.1%

1.3

26.1

14.3% -8.5%

80,905

1.9

38.0

511,176

-9.9%

8.9%

586,923

0.8

19.4

22.9

0.216

0.840

267,815

0.8

nmf

269,705

2.9%

1.600

-31.1%

-49.2%

-4.4%

64,246

-8.8%

-10.8%

-

-22.5%

nmf

2.0%

0.200

0.067

-

4.3

89,923

2,285,685

-10.0%

0.093

9.2

0.0%

-3.2%

4.2

104,500

-60.0%

-18.0%

-25.0%

0.172

0.270

-

2,778

0.265

0.240

40

-

0.158

0.360

0.226

9

0.260

0.320

2,860

17

0.850

0.355

-45.0%

1.7

302.5%

63.1%

0.285

700

0.033

8.3

-5.6%

13.1%

3.1

1.0

7.0%

3,540

0.060

nmf

14.0

-2.1%

847

-

0.564

-8.7%

1.8

135,000

-36.4%

0.238

0.940

4.4%

302,301

nmf

30.4%

25.4%

0.242

223

5.9%

64,309

-6.5%

-43.7%

1.000

150

-

0.310

1.4%

954,017

11.4%

-1.4%

1.260

0.320

0.0%

-19.4%

-9.9%

1,810

0.234

0.0%

-10.0%

-15.3%

2,173

-

0.9%

1.0%

2.8

1.200

-

0.212

2.060

39.7

1.220

0.214

-

1,216,236

0.350

1.580

1.5

1.0%

139

0.9%

-3.3%

0.130

75

1.0

13.4

-4.9%

-10.9%

-22.7%

1.340

26.2

-16.4%

0.820

1.620

53,454

4.2

0.9

0.920

0.930

0.270

0.089

3

67

0.890

0.270

-2.9%

0.234

0.900

0.0%

0.132

4

1.460

0.415

1.3

13.5

0.0%

1.100

12.0

147,610

-22.5%

-

295,911

-26.7%

0.236

820

1.2

nmf

5.8%

0.315

-

nmf

4.0

-

691

88,500

18.4

9.8%

0.840

1.0

146,879

-60.7%

0.112

nmf

-11.1%

0.096

0.480

88,088

-3.8%

0.285

550

0.850 1.460

0.132

-3.2%

4,120

0.0% 1.4%

1.380

0.180

0.850

1.460

0.019

1.700

K Kuwait Finance House F Kuwait Food Co.

0.710

0.055

43

-

-

0.960

-

263

-

-

-

-

1.440

0.180 0.112

-16.4%

1.300

-

1.440

0.198

1.945

2.3%

-

0.420

-

0.410

0.420

70

-

-

676,843

20.3%

0.0%

-

-

9.8%

-39.3%

0.485

-

-

961,529

23.2%

0.265

-

-5.2%

8.9%

0.275

-

0.460

945

1.6

-1.6%

3.8%

0.275

-

576

6.1

0.480

106

0.610

241,729

0.620

1.520

0.0%

0.610

0.5

-7.5%

11.3%

-6.8%

PB

1.9

11.3%

-11.3%

-1.6%

nmf

18.6

-16.9%

0.550

-18.4%

PE

936,767

0.085

0.280

444,906

0.0%

0.142

0.380

780

-1.5%

Trailing

Market Cap. (KWD '000)

26.9%

-13.0%

1.520

1.520

1.7%

91

13.3%

12 mths

-4.4%

0.550

0.114

0.550

-5.8%

YTD

-16.3%

500

0.118

-2.3%

% Change

0.079

230

-1.1%

5.4%

0.610

on high

0.104

0.460

0.460

0.310

0.248

0.690

0.620

IK Ikarus Petroleum Industries Co.

K Kuwait Cement Co.

-

-

Low

0.435

1,450

1.440

K KIPCO Asset Management Co.

-

1,930

High

797

-1.8%

C Gulf Cable and Electrical Industries Co.

IF International Finance Co.

816

0.420

52-Week

Volume ('000)

0.540

0.550

0.049

IF IFA Hotels & Resorts

Turnover (KWD '000)

890

0.750

G Gulf Bank

0.430

Low

276

C Commercial Bank of Kuwait G Global Investment House

-

High

0.310

0.255

F Commercial Facilities Co.

-

-1.6%

A Burgan Co. for Well Drilling

C Combined Grp Contracting Co.

-1.2%

0.310

0.610

B Burgan Bank

Daily

% Chg.

1.1

0.9

19.0

0.7

7.0

2.9

1.3

13.0

1.8

UAE Rebased Performance

Summary

Best Performers 1,689 (-3.7%)

130

DFM Index (% Chg.)

125

% of stocks trading above 1yr avg. price

2,610 (-0.6%)

ADSM Index (% Chg.) 122

120

DFM Index 52 week High / Low

106

105

Highest Turnover

100

E Emaar Properties

6-Jan-12 S&P GCC Large/Mid Composite

6-Feb-12 Abu Dhabi SE

35,488,323

A Arabtec Holding

6-Mar-12

#N/A

9.30

Turnover (AED) 148,233,895 DEYAAR.D Deyaar Development Co. 92,004,300 UPP.DFM Union Properties 75,252,942 ARTC.DFM Arabtec Holding

D Dubai Financial Market

90 6-Dec-11

0.0%

#N/A

-0.2%

Worst Performers

TATamweel

95

1.0%

412,257,466

Market Cap. (AED '000)

111

12.9%

1.26

956,449

Turnover (AED '000)

% Chg.

1.01

2,775 / 2,293 ETISALAT.AEtisalat

ADSM Index 52 week High / Low

110

1.49

86% SIB.ADSM Sharjah Islamic Bank 0.11 TAQA.ADS Abu Dhabi National Energy Co. 1,754 / 1,301 #N/A #N/A

Advance/Decline Ratio

115

Close

TAMWEEL Tamweel

32,603,577

D du

DFM.DFM

Close

0.40

% Chg.

0.45

Dubai Financial Market

-9.0%

3.25

-7.1%

3.06

-6.4%

1.16

EMIRATES Emirates NBD

-9.2%

-6.5%

Dubai FM

Quotes Company Name

Close

A Abu Dhabi Commercial Bank

3.22

T Abu Dhabi National Energy Co.

1.26

A Air Arabia

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

3.49

Daily

% Chg.

-1.5%

-0.3%

High

3.23

3.50

Low

3.20

3,956

3.42

1,745

1,382

0.73

-2.7%

0.76

0.73

10,256

13,839

1.02

-

2.10

1.21

-

-4.7%

-

1.26 -

-

19,841

-

-7.1%

3.68

3.24

35,488

1.12

-1.8%

1.17

1.10

696

1.91

3.39

0.49

0.40

3.12

-0.5% -

-3.9%

-9.2%

-1.9%

1.91 -

0.51

0.45

3.27

1.90 -

0.48

32,604

2.22

2.16

E Emirates NBD

3.06

-6.4%

3.23

3.06

9.30

F First Gulf Bank

20.85

M Mashreq

91.45

S Sharjah Islamic Bank

S Sorouh Real Estate Co. T Tamweel

1.41

-

-

0.0%

1.81

-

4.10

1.01

-

9.35

92,004 8,587

2.93

75,253

9.25

7,112

518

-

-

-

10

12.9%

1.51

1.26

148,234

0.45

-9.0%

0.44

9,674

U United Arab Bank

3.85

-

1.26 3.10

0.51 -

1.16 3.08 -

22,480 340 -

2.95

2.02

-28.8%

1.68

0.76

-28.0%

0.84 -

0.57 -

10.4% 5.0%

18,017,824

-11.9%

7,843,500

15.2%

31.5%

-6.2%

4,943,006

7.7

0.7

0.0%

0.0%

-2.6%

2.90

39,272

0.46

0.20

19,665

10,285

76,375 3,929

0.71

3.30

1.46

2.31

0.34

2.80

0.68

1.88

-1.7%

-31.0%

-13.2% -5.5%

-20.5% -6.1%

6.1%

16.9% 8.9%

85.4% 8.0%

38.1% 11.9%

15.1%

3,411,358 1,530,000

35.2

1,960,000

nmf

2,796,431

6,580,965

74.0%

2,282,310

7.2%

14,262,857

0.0%

3.3%

nmf

4,858,750

11.1%

-16.9%

12.7

3,234,981

9,280,000

8,239,607

13.2

9.1

nmf

8.2

15.2%

19.8%

18,030,066

10.1

765

11.40

8.64

-18.4%

1.9%

-13.9%

73,527,102

12.6

98.6%

15.6%

1,157,747

nmf

468

-

77

10

21.50

13.95

102.00 4.70

1.56

11.90 2.39

1.02

-3.0%

35.0%

74.70

-10.3%

-9.9%

2.91

-12.8%

-9.9%

0.80

-1.0%

20.2%

0.67

9.33 1.63

-9.6% -3.4%

-24.3%

18,583

1.54

0.67

-21.4%

110

3.90

2.82

-20.8%

3.28

-27.4%

103,256 20,776 -

1.49

0.50 5.30

4.1%

0.53

0.24

1.3%

35.4%

22.4%

17,006,791

31,275,000 -

5.0%

23.2%

33,005,498

0.0%

-7.7%

2,896,000

42.4%

-5.7%

12.2%

17.5%

0.0%

147.1%

50.5%

-9.9%

72.9%

72.9%

6.9%

5.8%

6.2%

-31.9%

1.2

0.9

0.6

8.4

1.2

18.8

1.9

0.9

1.3

8.9

1.3

9.0

0.9

2,449,755

9.8 9.5

1,490,000

14.6

1,501,618

nmf

3,836,145

2.5

0.5

16.1

7,711,481

0.4

6.7

4,510,000

3,176,250

1.2

0.5

7.7

-15.2%

-33.9%

1.5

nmf

2.41

2.65

1.1

1.7

1.0

3.49

4.63

0.7

8.0

25,107 166

1.3

1.1

0.3

10.9%

3.45

5.0

0.8

12.7

-6.8%

-36.7%

-

7.1

PB

2,100,000

0.0%

-2.6%

6.0

-28.8%

24.7%

0.71

1.60

8,252,824

PE

-4.5%

-12.7%

1.77

1.96

Trailing

Market Cap. (AED '000)

45.0%

624

1,667

-

881

-22.7%

15.8%

12 mths

238.5%

-

-

1.14

-1.7%

YTD

104.4%

-

11.35

-

1.63

2.92

-3.0%

% Change

-10.5%

-

11.60

3.55

2.20

on high

0.95

-

-

3.32

Low

3.63

-

-

52-Week

High

10,278

-

-

1.49

-1.9%

-

9,770

1.01

-5.5%

16,412

20.30

1.01

1.21

-

21.40

1.0%

3.09

* Closing Prices, Turnover and Market Cap. in USD

-1.2%

11.50

U Union National Bank U Union Properties

-0.2%

3.06

9,735

3.05

-2.3% -3.0%

-

16,407

2.17 2.96

3,169

0.39

D Dubai Islamic Bank

N National Bank of Umm Al Qaiwain

-

3.25

1.13

N National Bank of Fujairah

-

1.16

1.28

N National Bank of Abu Dhabi

1,084

1.24

-6.5%

G Gulf Cement Co.

1,229

1.30

1.16

E Etisalat

3,786

Volume ('000)

0.0%

D Dubai Financial Market

E Emaar Properties

Turnover (AED '000)

5.1

11.6

2.2 0.6 0.5 0.6 0.7

0.6

1.9

STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY wednesday, march 7, 2012

QATAR Rebased Performance

Summary

Best Performers 8,666 (-0.7%)

DSM Index (% Chg.)

115

Advance/Decline Ratio

111

110

Close

50% QNNS.DSMQatar Navigation 0.17 VFQS.DSM Vodafone Qatar

% of stocks trading above 1yr avg. price

73.00

Turnover (QAR '000)

451,947,870

Market Cap. (QAR '000)

#N/A

0.3%

7.30

8,892 / 7,682 AHCS.DSMAamal Co. 303,589 QEWS.DSMQatar Electricity & Water Co.

DSM 52 week High / Low

% Chg.

0.1%

15.52

0.0%

145.90

#N/A

-0.1%

#N/A

#N/A

105

Highest Turnover 100

Worst Performers Turnover (QAR) 51,832,820 QIIK.DSM Qatar International Islamic Bank 23,075,793 DHBK.DSMDoha Bank

IQIndustries Qatar

99

Q Qatar National Bank

22,547,975

B Barwa Real Estate Co.

95 6-Dec-11

6-Jan-12

6-Feb-12

6-Mar-12

S&P GCC Large/Mid Composite

16,312,134

Q Qatar Gas Transport Co.

10,339,835

Q Qatar Electricity & Water Co.

CBQK.DSMThe Commercial Bank of Qatar BRES.DSMBarwa Real Estate Co.

Close

51.60

% Chg.

-6.7%

59.00

-2.5%

75.90

-0.9%

28.65

QGTS.DSMQatar Gas Transport Co.

-0.9%

17.40

-0.9%

Doha SM

Quotes Company Name

Close

A Aamal Co.

15.52

Daily

% Chg.

0.0%

High

Turnover (QAR '000)

Low

15.52

396

15.50

17.40

-0.6%

C The Commercial Bank of Qatar

75.90

-0.9%

76.60

75.90

3,547

E Ezdan Real Estate Co.

18.90

-0.5%

18.90

18.90

31

B Barwa Real Estate Co.

28.65

D Doha Bank

59.00

-0.9% -2.5%

17.80

17.36

28.90 60.20

28.55

22,548

59.00

9,717

IQIndustries Qatar

141.90

-0.8%

143.60

141.00

51,833

Q Qatar Electricity & Water Co.

145.90

-0.1%

146.50

145.80

10,340

-6.7%

52.00

50.50

6,323

M Masraf Al Rayan

26.55

Q Qatar Gas Transport Co.

Q Qatar International Islamic Bank

17.40

-0.9%

77.60

-0.5%

51.60

Q Qatar Islamic Bank

Q Qatar National Bank

134.00

Q Qatar Telecom

165.70

Q Qatar Navigation

73.00

V Vodafone Qatar

-

7.30

-

77.90

17.34

16,312

77.40

3,354

-0.2%

134.30

133.90

23,076

-0.8%

168.00

165.70

9,097

0.3% 0.1%

73.00 7.35

72.70

3,313

7.25

2,168

High

24.09

546

Low

-35.6%

16.40

35.90

-9.1%

28.10

-20.2%

% Change YTD

-2.4%

1.3%

-4.3%

12 mths

Market Cap. (QAR '000)

-9.7%

7,682,400

4.6%

11,148,421

-4.4%

6,264,000

Trailing

PE

14.3

68.00

-11.2%

-9.6%

17.7%

18,781,180

10.0

2

24.97

18.60

-24.3%

-14.9%

-16.0%

50,132,188

nmf

-5.5%

-4.7%

16.59

-11.1%

-0.6%

76.30

-9.0%

-7.9%

67.00

46.15

363

148.50

118.80

71

153.50

125.50

123

56.20

44.90

933 43

28.10

19.58

85.30

141.73

109.59

55

167.00

118.50

297

-4.4%

20.20

172 45

-11.9%

94.30 8.12

-5.0%

-8.2%

-5.5%

69.90

-22.6%

7.24

-10.1%

-0.8%

-8.0%

6.7%

29.4%

12,195,170

21.3%

78,045,000

34.5%

19,912,500

4.5%

22.4%

14,590,000

-4.4%

17.5%

7,810,627

6.0%

9,636,886

1.2

9.2

85.50

PB

1.4

12.9

47

163

-

on high

15.40

19.15

786

-

-

17.65

26

9,550

K Al Khalij Commercial Bank

52-Week

Volume ('000)

0.9

1.3

9.8

1.7

1.8

9.8

3.0

11.2

4.8

14.1

2.3

12.2

7.9

13.4

1.6

12.0

1.6

2.6%

18,336,352

-4.6%

-17.1%

8,360,340

15.5

0.8

-3.3%

-0.1%

6,171,420

nmf

0.9

-3.0%

17.7%

24.3%

93,763,745

40.0%

29,163,200

12.5

2.2

11.3

1.4

OMAN Rebased Performance

Summary

Best Performers 5,865 (-0.1%)

MSM Index (% Chg.)

115

53% RCCI.MSM Raysut Cement Co.

% of stocks trading above 1yr avg. price

110

1.00

Advance/Decline Ratio

111

Close

0.89

OCOI.MSM Oman Cement Co.

MSM 52 week High / Low

7,073,535

Market Cap (OMR '000)

1.1%

0.51

6,416 / 5,419 RNSS.MSMRenaissance Services 8,284 OTEL.MSMOman Telecommunications Co.

Turnover (OMR '000)

% Chg.

0.2%

0.61

0.2%

0.32

-0.3%

1.41

NBOB.MSMNational Bank of Oman

0.0%

106

105

Highest Turnover 100

Worst Performers Turnover (OMR) 652,459 BKDB.MSMBank Dhofar 273,772 BKMB.MSMBank Muscat

O Oman Cement Co.

B Bank Muscat

144,240

N National Bank of Oman

95 6-Dec-11

6-Jan-12

6-Feb-12

6-Mar-12

S&P GCC Large/Mid Composite

105,589

R Raysut Cement Co.

87,901

R Renaissance Services

Close

0.54

% Chg.

-1.3%

0.73

-0.4%

NBOB.MSMNational Bank of Oman

0.32

-0.3%

RNSS.MSMRenaissance Services

0.61

0.2%

OTEL.MSMOman Telecommunications Co.

1.41

0.0%

Muscat SM

Quotes Company Name

Close

B Bank Dhofar

0.543

N National Bank of Oman

0.317

O Oman Telecommunications Co.

1.406

R Renaissance Services

0.610

B Bank Muscat

O Oman Cement Co.

R Raysut Cement Co.

Daily

% Chg.

-1.3%

High

Turnover (OMR '000)

Low

0.543

4

0.543

0.733

-0.4%

0.740

0.730

274

0.510

0.2%

0.512

0.507

652

0.885

106

0.888

-0.3%

0.0% 1.1% 0.2%

0.318 1.410 0.890 0.612

0.316

144

1.404

57

8

High

0.680

Low

on high

0.509

-20.1%

YTD

-0.7%

1,279

0.608

0.416

-16.1%

18.1%

-11.5%

119

1.190

0.711

-25.4%

16.8%

-21.8%

40

0.302

1.407

144

-4.5%

1.041

1.197

-0.1%

0.458

-49.0%

-0.9%

7.4%

11.9%

Market Cap. (OMR '000)

-18.6%

0.658

0.332

-4.3%

12 mths

0.781

455

-6.1%

% Change

373

88

0.608

52-Week

Volume ('000)

496,974

0.7%

1,134,962

-0.6%

342,677

Trailing

PE

12.9

PB

2.3

9.7

1.3

10.0

1.2

168,745

13.2

1.1

177,600

11.9

1.7

18.2%

1,054,500

-42.0%

172,078

9.4

2.1

nmf

1.0

BAHRAIN Rebased Performance

Summary

Best Performers 1,157 (0.4%)

BSE Index (% Chg.)

115

Advance/Decline Ratio

111

110

Close

32% AUB.BSE Ahli United Bank - BARKA.BS Albaraka Banking Grp. 1,433 / 1,129 #N/A #N/A

% of stocks trading above 1 yr avg. price BSE 52 week High / Low

407

Turnover (BHD '000)

6,532,015

Market Cap. (BHD '000)

#N/A #N/A

0.68

% Chg.

0.8%

1.06

#N/A

0.0%

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

105

Highest Turnover 100

100

Worst Performers Turnover (BHD) 37,379 BARKA.BS Albaraka Banking Grp. 14,692 AUB.BSE Ahli United Bank 829 ABC.BSE Arab Banking Corp.

B Bahrain Telecommunications Co.

A Ahli United Bank

B Albaraka Banking Grp.

95 6-Dec-11

6-Jan-12

6-Feb-12

A Arab Banking Corp.

6-Mar-12

S&P GCC Large/Mid Composite

#

#N/A

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-

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#N/A

Close

1.06

% Chg.

0.68

0.42 -

#N/A

#N/A

#N/A

#N/A

0.0%

0.8% #N/A

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Bahrain SE

Quotes Company Name

Close

A Ahli United Bank*

0.675

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.

0.8% 0.0% -

0.400

0.0%

797

-

0.412 0.090

0.570

0.304

-

-

High

0.680 1.060 -

Low

Turnover (BHD '000) 39

0.675 1.060 -

-

-

-

-

-

-

-

-

-

0.400

0.400

-

-

-

-

-

-

-

52-Week

Volume ('000) 58

2

37

-

2

93

High

0.770

1.280

0.570 0.116

0.492

0.436

-

1,139

-

0.700

-

-

Low

0.660 1.000

on high

-12.3%

1,306,200

2.0%

-11.1%

576,000

-21.7%

38.5%

-28.3%

1.3%

0.560

-18.6%

0.270

-26.3%

-0.5%

-30.0%

0.424

0.0%

-5.5%

797

0.065

3,364,429

-8.9%

-18.7%

12 mths

Market Cap. (BHD '000)

-1.5%

-29.3%

0.380

0.115

1.5%

-2.8%

-26.3%

0.390

YTD

-17.2%

0.420 0.082

% Change

0.0%

-0.9%

-16.7%

-30.5%

921,723

Trailing

PE

10.8 7.8

7.2

1.1

-8.4%

350,759

11.0

-21.7%

240,999

nmf

-25.9%

253,707

-8.5%

487,555

0.8

0.4

nmf

637,560

1.3

6.4

77,053

-37.0%

PB

0.8

1.5

4.5

0.6

10.7

1.8

nmf

0.4 1.2

LIFE

Lower your risk for Osteoporosis

Some risk factors for osteoporosis you can’t control -- such as your age, heritage and family history of the brittle bones condition.

But the womenshealth.gov website says there are risk factors than you can control, including: * Getting plenty of calcium in your diet each day. * Getting plenty of daily vitamin D. * Eating a healthy, balanced and nutrient-rich diet. * Getting plenty of weight-bearing exercise. * Avoiding smoking and drinking alcohol in moderation. * Taking medication to reduce bone loss, if your doctor recommends it.

WEDNESDAY, march 7, 2012

UN says more than 2 billion Mouse study suggests people get safe water to drink Vitamin E may weaken bones CAPITALS: Vitamin E may stimulate cells that result in bone loss, a new study suggests, reports HealthDay News.

Researchers led by Shu Takeda of Keio University in Tokyo said their findings could have implications for people who take vitamin E supplements.

The researchers explain that maintaining a balance between bone-forming cells (osteoblasts) and bone-degrading cells (osteoclasts) keeps bones strong. Although prior studies had suggested that vitamin E could be beneficial for bone

health, the Japanese researchers found the opposite may be true, since the nutrient seems to trigger the production of bone-eroding osteoclasts. A US expert agreed with the hypothesis.

“Bone health is a dynamic tissue and issue,” said Dr. Robert Graham, an internist at Lenox Hill Hospital in New York City. “It is in a constant struggle between osteoblasts ... and osteoclasts.” Understanding this cellular battle “is crucial in understanding how vitamin E may affect our bone health,” Graham said.

The study has revealed “the opposite of what was traditionally believed,” Graham said. “This is intriguing, because previous in vitro [laboratory] studies and mice studies have yielded contradictory results.” Still, much more research is needed to better understand how vitamin E works in the skeletons of humans, Graham added. “Before we start telling people to throw away their vitamin E, let me state that these results are in mice and more studies are needed to see the risks and benefits in humans,” he said.

UN says 2011 disasters were costliest ever Volunteers stack donated bottled water for tornado victims at St. Francis Church in Henryville, Indiana March 4, 2012. More than 2 billion people have gained access to better drinking water sources, such as piped supplies and protected wells, between 1990 and 2010, UN officials said on Tuesday. (Reuters)

LONDON: More than 2 billion people have gained access to better drinking water sources, such as piped supplies and protected wells, between 1990 and 2010, UN officials said on Tuesday.

The figure means the world has met the internationally agreed Millennium Development Goal (MDG) to halve the proportion of people with no safe drinking water well ahead of a 2015 deadline, UNICEF and the World Health Organization (WHO) said.

United Nations Secretary-General Ban Ki-moon said this was “a great achievement for the people of the world” and noted it was one of the first MDGs to be met.

The Millennium Development Goals are a group of targets set by the international community in 2000 to seek to improve health and reduce poverty among the world’s poorest people by 2015.

“The successful efforts to provide greater access to drinking water are a testament to all who see the MDGs not as a dream, but as a vital tool for improving the lives of millions,” Ban said in a statement.

A report by the UN children’s fund UNICEF and the WHO found that at the end of 2010, 89 percent of the world’s population, or 6.1 billion people, had access to improved drinking water - higher than the 88 percent MDG target.

The report estimates that by 2015, 92 percent of the global population will have access to improved drinking water.

“For children this is especially good news,” UNI-

CEF’s Executive Director Anthony Lake said in a statement. “Every day more than 3,000 children die from diarrheal diseases. Achieving this goal will go a long way to saving children’s lives.”

Lake cautioned against declaring victory too early, as at least 11 percent of the world’s population - or 783 million people - still have no safe drinking water, and some 2.5 billion do not have improved sanitation facilities.

The report said the world is still far from meeting the MDG target for sanitation, and is unlikely to do so by 2015. Only 63 percent of the world now have improved sanitation access, a figure projected to increase to only 67 percent by 2015, well below the 75 percent internationally agreed aim.

“Better water, sanitation and hygiene are key to improving human health and development,” said WHO Director-General Margaret Chan. “Today, even with this exciting new progress, almost 10 percent of all diseases are still linked to poor water, sanitation and hygiene.”

The report said there were still huge challenges in certain parts of the world, particularly sub-Saharan Africa, where only 61 percent of people have access to improved water supplies compared with 90 percent or more in Latin America and the Caribbean, Northern Africa and large parts of Asia.

It also said some 1.1 billion people still defecate in the open because they have no toilets, and the vast majority of them live in rural areas. -Reuters

Eyeless sea creature senses light like humans WASHINGTON: An eyeless sea creature, related to jellyfish and sea anemones, may nonetheless be able to “see” light and dark, say researchers who found light-sensitive neurons that work in a manner similar to human vision, reports LiveScience.

“I wouldn’t call this vision, because as far as we know the hydra are not processing information beyond what’s light and what’s dark, and vision is much more complicated than that,” said study researcher Todd Oakley of the University of California, Santa Barbara.

These tiny freshwater polyps called hydra are part of the Cnidaria family, and like jellyfish and other family members sport stinging cells called cnidocytes to help them catch prey. Specifically, the hydra studied (Hydra magnipapillata) has a simple mouth surrounded by tentacles containing barbed cnidocytes, which they use to stun animals like the water flea, before eating them alive. Next to the stinging cells are sensory neurons.

“Hydra stinging cells were already known to be touch-sensitive and taste-sensitive, but no one had ever thought before to look for light sensitivity - probably because they don’t have eyes,” Oakley said in a statement.

Hydra is simple-looking creatures, under a halfinch long and transparent, though this can change depending on the color of the food they have just eaten.

They are also somewhat athletic, placing their tentacles on the substrate, before releasing and performing a somersault.

“There is certain elegance to their movement,” David Plachetzki, a postdoctoral fellow at UC Davis, told LiveScience in an interview. “They look like they were designed with an art-deco look to them.”

In their study, Oakley, Plachetzki, who at the time was at UCSB, and their colleagues found genes for a light-sensitive protein called opsin inside these sensory neurons, and what’s more, they discovered the protein regulates the firing of the polyp’s harpoonlike cnidocytes. The whole process is directed by light; the stinging cnidocytes appear to fire less often in bright light versus dim light.

They also found these sensory neurons contain the ion channels and additional proteins required to convert light into electric signals, the same process that occurs in the human retina and allows us to see.

The researchers aren’t sure why light is the trigger,

though they speculate it could have to do with prey, as twilight marks the time when most of their prey comes out to forage.

“Another reason is that there could be a small shadow cast on the tentacles by the prey,” Plachetzki noted, suggesting the dimming light would trigger the cnidocytes to fire.

The light cue may also help with their end-over-end somersaulting locomotion, as it could signal that the tentacles are facing the substrate (away from the surface light) to which they need to attach, he added.

FILE-The freshwater polyp, Hydra magnipapillata has light-sensitive neurons that trigger the firing of the organism’s barbed stinging cells called cnidocytes, researchers have found. (Agencies)

UNITED NATIONS: The economic cost of disasters in 2011 was the highest in history - with a price tag of at least $380 billion, mainly due to earthquakes in Japan and New Zealand, a UN envoy said Monday.

Margareta Wahlstrom, the secretarygeneral’s special representative for disaster risk reduction, said the figure was twothirds higher than the previous record in 2005 when Hurricane Katrina struck the southern United States.

In addition to the earthquakes, Wahlstrom said major floods in Thailand and other countries caused extensive damage. “The main message is that this is an increasing - very rapidly increasing trend with increasing economic losses,” Wahlstrom said.

Despite the rising costs, she said,

deaths from disasters are proportionally declining because countries are getting much better at instituting early warning systems and preparedness measures.

“But the economics of disasters is becoming a major threat to a number of countries,” Wahlstrom said.

“We say today that 50 percent of the world’s population is exposed to disaster risks because they live in the highly vulnerable areas,” she said.

Wahlstrom said Japan has the highest economic exposure and the secondhighest population exposure to potential disasters.

She praised Japan for its preparedness efforts but said there are lessons to be learned from the magnitude 9.0 earthquake and tsunami on March 11.

While buildings generally withstood

the massive quake, the tsunami that followed engulfed the northeast, wiped out entire towns, and inundated the Fukushima nuclear power plant, triggering the worst nuclear accident since Chernobyl.

Wahlstrom said the risk of disasters is increasing globally because of climate change, the depletion of natural resources, poor land use, and worsening environmental problems.

For example, she said, by 2050 the world will need 50 percent more food, 45 percent more energy and 30 percent more water for a growing population - and these resources are already under threat and are triggers of disaster.

Wahlstrom said every plan to improve development in a country must include measures to deal with the impact of climate change and natural disasters. -AP

Scientists see rise in tornado-creating conditions

NEW YORK: When at least 80 tornadoes rampaged across the United States, from the Midwest to the Gulf of Mexico, last Friday, it was more than is typically observed during the entire month of March, tracking firm AccuWeather.com reported on Monday. According to some climate scientists, such earlier-than-normal outbreaks of tornadoes, which typically peak in the spring, will become the norm as the planet warms.

“As spring moves up a week or two, tornado season will start in February instead of waiting for April,” said climatologist Kevin Trenberth of the National Center for Atmospheric Research.

Whether climate change will also affect the frequency or severity of tornadoes, however, remains very much an open question, and one that has received surprisingly little study.

“There are only a handful of papers, even to this day,” said atmospheric scientist Robert Trapp of Purdue University, who led a pioneering 2007 study of tornadoes and climate change.

“Some of us think we should be paying more attention to it,” said atmospheric physicist Anthony Del Genio of the Goddard Institute for Space Studies, part of NASA. The scientific challenge is this: the two conditions necessary to spawn a twister are expected to be affected in opposite ways. A warmer climate will likely boost the intensity of thunderstorms but could dampen wind shear, the increase of wind speed at higher altitudes, researchers say.

Tomorrow’s thunderstorms will pack a bigger wallop, but may strike less frequently than they have historically, explained Del Genio.

“As we go to a warmer atmosphere, storms - which transfer energy from one region to another - somehow figure out how to do that more efficiently,” he said.

As a result, thunderstorms transfer more energy per outbreak, and so have to make such transfers less often.

In a 2011 paper, Del Genio calculated that, “especially in the central and eastern United States, we can expect a few more days per month with conditions favorable to severe thunderstorm occurrence” by the latter part of this century if the global climate grows warmer.

Indeed, the world has been experiencing more violent storms since 1970, the Intergovernmental Panel on Climate Change reported in its most recent assessment.

Extending tornadoes’ path

Purdue’s Trapp and colleagues got a similar result in their 2007 study, which

Dale Kirk, (right) picks up a chair from the debris of the home of Brenda and Ted Tolbert of Holton, Ind. on Sunday, March 4, 2012 after tornadoes hit the area on Saturday. According to some climate scientists, such earlier-than-normal outbreaks of tornadoes, which typically peak in the spring, will become the norm as the planet warms. (AP)

they confirmed in research published in 2009 and 2011. “The number of days when conditions exist to form tornadoes is expected to increase” as the world warms, he said.

In addition, they found, regions near the Gulf of Mexico and Atlantic coasts not normally associated with tornadoes will experience tornado-making weather more frequently. They projected a doubling in the number of days with such conditions in Atlanta and New York City, for instance.

More powerful thunderstorms would be expected to produce more tornadoes, but wind shear could prove a mitigating factor.

Because climate change is not uniform, Del Genio wrote in the 2011 paper, “in the lower troposphere, the temperature difference between low and high latitudes decreases as the planet warms, creating less wind shear.”

Other scientists are not so sure, and they see a surge in tornadoes last year as ominous. April 2011 was the most active tornado month on record, with 753, according to the National Oceanic and Atmospheric Administration (NOAA), compared to the previous record of 267 in April 1974.

“I have no doubt that there will be many times when wind shear is plenty strong to create a tornado,” said Trenberth.

That is what Trapp’s team concluded in their 2007 study. “Over most of the United States,” they wrote, the increase in the power of thunderstorms will “more than compensate for the relative decreases in shear.”

As a result, “the environment would still be considered favorable for severe convection” of the kind that creates tornadoes.

From March to May the projected increase in severe storms is “largest over a ‘tornado-alley’-like region extending northward from Texas,” Trapp found.

From June through August, the eastern half of the country is projected to experience such an increase.

If there are more days in the future when wind shear is too weak to produce a tornado from a thunderstorm, said Trenberth, then “the frequency of tornadoes may decrease but the average intensity might increase. You could have a doozy of an outbreak, and then they could go away for a while.”

On average, about 800 tornados are reported annually in the United States.

About 70 percent are “weak,” finds NOAA, with winds less than 110 mph.

Just under 29 percent are “strong,” with winds between 110 and 205 mph. Only 2 percent of all tornadoes are what NOAA characterizes as “violent,” with winds in excess of 205 mph, but they account for 70 percent of all twister deaths. -Reuters

16

ALWATAN DAILY

CULTURE

wednesDAY, MARCH 7, 2012

Evans celebrate positive aspects of every woman’s body Ricky Laxa Staff Writer

KUWAIT: Evans is Kuwait’s leading brand specializing on sizes for women of different body structures. Business Director of Evans, Dorothy Perkins and Wallis brands in retail division for the Middle East Tom Clark discussed in a press conference Monday morning at its Al-Fanar outlet, details on the importance of getting to know each own body, its structures and the fashion that goes with it.

Evans highlighted the importance of what a woman likes and what kind of fashion makes her comfortable and eventually confident intrinsically. Thus, after extensive interviews and research, Evans categorized four different body structures, namely; “Pear” shape that constitutes curvaceous hips and bottom and contrasting with smaller bust and shoulders. The “Hourglass” shape, which has an equally proportioned bust and hips with a waist. The “Apple’ shape that has softer and fuller middle torso with slimmer legs and bottom and the “Busty” that has larger bust with narrower hips and bottom. Results of the research showed that 48% fitted into the Apple category and 28% were Hourglass, while 16% were Pear and 8% fell into the Busty category.

Press release states that although this terminology has been used within the industry for years, Evans plans to revolutionize the high street to help women shop by shape as well as size. Evans is developing labelling, pattern blocks, and customer guides in store and online, to offer modern collections that fit to flatter. In addition, an updated staff training program will be taking place to ensure that the body confidence message is rolled out across all Evans stores. Market leading size specialists, Evans, are set to change the way women will view their bodies. The aim is to encourage a new way of thinking when it comes to the female figure and celebrate the positive aspects of every woman’s body.

Fiona Ross, Brand Director at Evans, comments: “Every one of us has a unique figure, and we will help curvy women to identify, shop, and dress for their fabulous shapes and with unbeatable confidence.” With an increased focus on size in the news, and as fashion continues to evolve, so do women’s bodies. As the specialist, Evans believes that the woman needs to be given a new direction, and that this

Business Director of Evans, Dorothy Perkins and Wallis brands in retail division for the Middle East Tom Clark introduces to the media, manual guide detailing body types and suggested fashion styles for each type.

(Al Watan Daily)

new way of communicating to a customer is now the shape of things to come.

A small manual given out to the clients highlighted the four body types and what type of clothes must be worn. For the Apple shape, straight clothing lines and soft fabrics is ideal, this is to avoid unnecessary volume. Create a vertical panel through the centre of the body, Empire lines - where the waist line is raised, above the natural waist line, just below the bust, clothes that drape from your shoulders, details above the bust line or below the hip line to draw attention away from your widest point, V necks to draw the eyes up, wide leg or flat fronted trousers, as always good fitting underwear, a shoulder bag to balance out your, shoulders, small wedges to accentuate shapely legs and bold hipster belt to create interest. The Hourglass shape fits well with scoop neck or deep V neck fitted tops, wrap around tops

Models of four body types pose for Al Watan Daily. (Al Watan Daily)

to accentuate your waist, pencil, bias cut or full skirts, shaped, wrap or bias cut shift dress, flat fronted trousers with side zips, tailored shirts, jackets and coats that nip in at the waist, as always good fitting underwear, belts that cinch you in at the waist and elegant high heels. The “Pear shape” goes well with frills, ruffles and patterns on the top half of the body to balance with the lower half, tops with volume or plenty of fabric to skim and flatter, jackets and tops that finish above or below the widest points of your hips and bottom, layering on top to balance you out, slash neck tops to balance the width of the hips, boot cut trousers, lighter color tops to wear with darker bottoms, sleeves or shoulder pads to create volume, as always good fitting underwear and eye catching jewelry, especially at high level on your body and finally the “Busty shape” can include V necklines, tops in dark solid colors, patterned skirts, creat-

Creative director Pilati says adieu to Yves Saint Laurent

Italian designer Stefano Pilati waves after the presentation of his collection for Yves saint Laurent as part of the Fall-Winter, ready-to-wear 2013 fashion collection, during Paris Fashion week, Monday, March 5, 2012. (AP)

PARIS: Emotions were high Monday as Stefano Pilati bid adieu to Yves Saint Laurent, just a week after the house announced his departure as creative director.

Talk that the company was looking to replace the designer for some months was one of fashion’s worst kept secrets.

The collection was stronger and sharper than last season. Perhaps fittingly, it channeled black - the color of mourning - and chainmail, redolent of combat and selfdefense.

From the outset, a tangibly fatalistic mood hovered in the air: the first model strode slowly down the 100-meter catwalk in a simple black hood.

But the seeming lightness of the materials diluted the fierceness of the clothes: Sharp-shouldered silhouettes with cinched waists managed to have an element of fragility.

A long black coat could have been inspired by the Matrix, but had the feel of a kimono and softness in the leather. A chainmail dress looked delicate - like the skin of a fish - later echoed with finesse in chainmail printing.

A subdued mood with slimmer forms replaced the free volumes of previous seasons. Also gone were the palazzo pants and the Prince of Wales check of last fall, and with it most of the house’s DNA. “Stefano has given them lot of iconic things,” said actress Salma Hayek, on hand for the show. “This show was homage not to the house, but to himself.”

The last piece was the exception that proved this rule.

A gorgeous 1970s tuxedo suit, a single generous nod and direct tribute from Pilati to the late, great Yves Saint Laurent. -AP

ing interest on the bottom half, A line and Maxi skirts to create a balanced silhouette, flared or boot cut trousers, as always good fitting underwear, chunky heels to balance your shape, long necklaces that draw the eye to the centre of the body, chunky or bold statement hipster belts and medium to large bags.

Clark added that Evans has in particular designed a range of clothes for the Middle Eastern women with special considerations on special fabric and lengthy sleeves and that although the change of styles and designs go with the four seasons yet Evans introduces every week new collection and styles. “Our clienteles are composed of ages twenty five to fifty years old and visit to the stores are frequent within the year and stocks are available depending on the size of the outlets although much is fitted to accommodate clients.

“Communication is vital within our outlets” says Clark.

British athletes warned about Olympic handshakes FRANCE: Britain’s athletes have been told of the dangers of shaking hands at this year’s Olympics in case they pick up a bug that could wreck their sporting dreams.

The British Olympic Association’s (BOA) chief medical officer said that “within reason”, shaking hands should be off-limits, given the fact that all athletes will live and eat in close proximity at the Games village -- and bugs could spread like wildfire.

“Within reason if you do and have to shake hands with people, so long as you understand that regular hand washing and/or also using hand foam can help reduce the risk -- that would be a good point,” Dr Ian McCurdie said.

The BOA has drawn up a list of health advice for its 550-strong team of athletes and 450 support staff for the Games, which start in London on July 27, with illness identified as the greatest threat to performance along with injury.

“At an Olympic Games or any major event the performance impact of becoming ill or even feeling a little bit ill can be significant,” McCurdie explained, saying that bugs could easily be picked up from anything from cutlery to door handles.

“Essentially we are talking about minimizing risk of illness and optimizing resistance. Minimizing exposure and getting bugs into the system and being more robust to manage those should that happen.

“Hand hygiene is it. It is all about hand hygiene.”

At the 2010 Commonwealth Games in New Delhi, where the athletes’ village was hit by concerns about cleanliness, a number of swimmers picked up bugs that either affected their performance or forced them to pull out of events altogether. Other health warnings for British athletes at the London Olympics include sleep deprivation, long working hours and the disruption of having to live in a new environment.

Athletes could also expect to feel the pressures of performing in front of a home crowd, the BOA said. -AFP

Five hundred new fairytales discovered in Germany Nepal’s city children are new underclass: UN report FRANCE: Pia Rai was 13 when she started taking drugs with her friends in lessons, unnoticed by her teacher who was struggling with a class of 75 students in an impoverished inner-city school.

She had been introduced to heroin by classmates in Dharan, a city of 120,000 people in the foothills of the Mahabharat Mountains in eastern Nepal, after starting smoking and then moving onto cannabis.

“What made it so simple for me to get into drugs was my family not being that aware,” said Pia. “My classroom was so big that the teacher could not pay attention to all the children, so the kids on the back benches could take drugs in class and the teacher wouldn’t even know about it.”

Pia, now 17, was one of the lucky ones. She received help from a dependence treatment centre and is catching up with her lost schooling and working as a “peer educator” to warn others of the dangers of drugs.

Police in Dharan estimate that around half of the city’s youth are drug users, part of an emerging “urban poor” often overlooked by aid agencies and government ministries focusing the fight against poverty on the countryside.

Hundreds of thousands of children like Pia are growing up in Nepal’s towns and cities unable to access basic services on their doorsteps, the United Nations Children’s Fund said in a report launched this week.

“When people think of poverty, they tend to focus on a child in a remote rural village,” UNICEF Nepal representative Hanaa Singer said.

“But today, an increasing number of children living in urban centers are among the most disadvantaged and vulnerable in the world.

“They live tantalizingly close to essential, basic services but are deprived of most of them.”

More than half of Nepal’s urban under-fives are not registered at birth, meaning they have no official name, identity or nationality, and little access to services provided by the state or protection under the law.

Life in city slums is particularly hazardous in Kathmandu, where there are regular outbreaks of diarrhea and cholera in the thousands of shanties on the banks of the Bagmati River, which is used as a dump for toxic industrial and hospital waste.

“Urbanization is a fact of life and one of the greatest challenges we all face today,” Singer said.

“We must all invest more in cities as the emerging and growing problems associated with the disparities of wealth and access to essential services in cities will not solve themselves.”

At the last count in 2004, Nepal had around 5,000 street children, although the number is believed to have grown fast since then.

Nearly half have been sexually abused while up to 30 percent are HIV positive and 40 percent are drug-users, according to UNICEF. Many are engaged in “the worst forms of child labor”, UNICEF says, including garbage collection, begging and loading trucks.

Niraj Malla, 12, works in a plant nursery, packing soil into bags for 200 rupees ($2.50) a day in Biratnagar, a city on Nepal’s border with India.

He told journalists at the launch of the UNICEF report in Kathmandu on Monday of children he knew who were made to work so hard washing dishes that “the flesh was rotting from their hands”.

“You don’t have to go to the villages... to find poverty or deprivation,” he said. “You can find it right in the city, in the little hut beside the big mansion.” -AFP

LONDON: A whole new world of magic animals, brave young princes and evil witches has come to light with the discovery of 500 new fairytales, which were locked away in an archive in Regensburg, Germany for over 150 years, reports The Guardian. The tales are part of a collection of myths, legends and fairytales, gathered by the local historian Franz Xaver von Schönwerth (1810-1886) in the Bavarian region of Oberpfalz at about the same time as the Grimm brothers were collecting the fairytales that have since charmed adults and children around the world.

Last year, the Oberpfalz cultural curator Erika Eichenseer published a selection of fairytales from Von Schönwerth’s collection, calling the book Prinz Roßzwifl. This is local dialect for “scarab beetle”. The scarab, also known as the “dung beetle”, buries its most valuable possession, its eggs, in dung, which it then rolls into a ball using its back legs.

Eichenseer sees this as symbolic for fairytales,

which she says hold the most valuable treasure known to man: ancient knowledge and wisdom to do with human development, testing our limits and salvation.

Von Schönwerth spent decades asking country folk, laborers and servants about local habits, traditions, customs and history, and putting down on paper what had only been passed on by word of mouth. In 1885, Jacob Grimm said this about him: “Nowhere in the whole of Germany is anyone collecting [folklore] so accurately, thoroughly and with such a sensitive ear.” Grimm went so far as to tell King Maximilian II of Bavaria that the only person who could replace him in his and his brother’s work was Von Schönwerth.

Von Schönwerth compiled his research into a book called Aus der Oberpfalz - Sitten und Sagen, which came out in three volumes in 1857, 1858 and 1859. The book never gained prominence and faded into obscurity.

While sifting through Von Schönwerth’s

FILE- ‘King Golden Hair’, one of the newly-discovered fairytales. (Agencies)

work, Eichenseer found 500 fairytales, many of which do not appear in other European fairytale collections. For example, there is the tale of a maiden who escapes a witch by transforming herself into a pond. The witch then lies on her stomach and drinks all the water, swallowing the young girl, who uses a knife to cut her way out of the witch. However, the collection also includes local versions of the tales children all over the world have grown up with including Cinderella and Rumpelstiltskin, and which appear in many different versions across Europe.

Von Schönwerth was a historian and recorded what he heard faithfully, making no attempt to put a literary gloss on it, which is where he differs from the Grimm brothers.

However, says Eichenseer, this factual recording adds to the charm and authenticity of the material. What delights her most about the tales is that they are unpolished. “There is no romanticizing or attempt by Schönwerth to interpret or develop his own style,” she says.

Eichenseer says the fairytales are not for children alone. “Their main purpose was to help young adults on their path to adulthood, showing them that dangers and challenges can be overcome through virtue, prudence and courage.”

In 2008, Eichenseer helped to found the Franz Xaver von Schönwerth Society, an interdisciplinary committee devoted to analyzing his work and publicizing it. She is keen to see the tales available in English, and a Munich-based English translator, Dan Szabo, has already begun work on stories ranging from a miserly farmer and a money-mill to a turnip princess. “Schönwerth’s legacy counts as the most significant collection in the Germanspeaking world in the 19th century,” says Daniel Drascek, a member of the society and a professor in the faculty of language, literature and cultural sciences at the University of Regensburg.

ALWATAN DAILY

entertainment Song Of The Day

Fahad AlSabah Staff Writer

Song: This Is Like (Feat. Robin Thicke) Artist: Tyga Album: Careless World: Rise of the Last King Genre: Rap/R&B In short: Careless World marks Tyga’s first studio album under Young Money Entertainment (Lil’ Wayne, Nicki Minaj, Drake) and his first proper introduction to the world, despite his independently released debut, No Introduction. “Rack City” was the third single released from the album-following “Far Away” and “Still Got It-and by far the most successful, but far from being the best on the album. The excellent Robin Thicke-assisted “This Is Like” stands out among the album for being one of the most laid back cuts on the record, but most likely, it has much more to do with Thicke than Tyga.

To listen to the song visit www.alwatandaily.com E-mail your feedback to falsabah@alwatandaily.com

The Buzz Fox cancels Terra Nova, show could still live on The dino drama failed to get a renewal order from the network, TVGuide.com has confirmed. But all is not lost, Terra Nova fans: 20th Century TV is planning to shop the series to other networks. The series, which followed the Shannon family as they traveled back in time from a dystopian future to a prehistoric Earth, premiered to 9.2 million viewers and a 3.1 adults 18-49 rating, but that fell to 7.2 million and a 2.1 by the season finale. Terra Nova was also one of the season’s more expensive series to produce, the pilot alone costing a reported $10 to $20 million. In January, Fox President of Entertainment Kevin Reilly told reporters that the show “was an exciting bet to take. It was worthwhile. We’re trying to figure out... if that’s the best show [for our schedule]. If we had more holes, we’d be thrilled to lock that right in. ... If this is all we produce, we made money on it, the studio made money on it, and the audience enjoyed it.”

Obama gives shout out to actor Aziz Ansari at fundraiser President Obama gave a shout out to actor Aziz Ansari at a fundraiser in New York City last week, revealing that his 13-year-old daughter is a huge fan the NBC show “Parks and Recreation.” “Now, this is big because Malia is a big ‘Parks and Recreation’ fan,” said Obama. “So having Aziz here is like the only thing she thinks is worth me doing.” He went on to “remind” Ansari that, “I’ve got more Twitter followers than you, man. I just want to keep him humble and hungry. We all need somebody who does that. Fortunately, I have Michelle.”

The fundraiser was one of four stops during a whirlwind blitz of the Big Apple that night. It was the larger of two held at the ABC Home and Carpet and included approximately 900 attendees who paid $1,000 a plate. The final stop of the night was at the Upper East Side home of designer Michael Smith and James Costos, a vice president at HBO, where tickets were $10,000 a piece for a dessert reception. Obama spied singer John Legend at that stop and said, “I will not be singing.” “Don’t steal my job,” Legend replied. -Reuters

The Osbournes to return to TV in animated form “Ozzy Osbourne” and “animated” aren’t words that are typically associated with each other -- but that’s all about to change. Toronto-based animation group Cuppa Coffee Studios -- the people behind Comedy Central’s “Ugly Americans” -- will launch a new series featuring Ozzy, Sharon, Kelly and Jack in April. The series is dubbed “The F’n Osbournes” -- though, according to Cuppa Coffee, the “F” stands for “family.” According to Cuppa Coffee Studios’ president Adam Shaheen -- who created the series and will co-executive produce the series, along with Sharon and Jack Osbourne -- the stop-motion offering “combines absurd animated sitcom premises that only the Osbournes can pull off!”

“The F’n Osbournes” will begin production over the summer. Cuppa Coffee hopes to finalize sales of the series at the MIPTV gathering in Cannes, which takes place in early April.

The family will play themselves on the series. -Reuters

Backstreet’s Nick Carter to guest-star on 90210 Backstreet’s back alright! They’re not really coming back, but “Backstreet Boys” member Nick Carter will be guest-starring in an upcoming episode of “90210,” according to Entertainment Weekly; according to TV Guide. Carter will play himself in the May 8 episode, in which he shows up to a bachelorette party thrown by Naomi (AnnaLynne McCord). She invites the boy band star because the bride has had a crush on him since the band’s golden days. The singer previously guest-starred on “8 Simple Rules,” “American Dreams” and starred in the E! reality show “House of Carters.”

Current TV adding 2 morning talk shows to lineup Current TV is launching a morning talk block with live simulcasts of the radio programs “The Bill Press Show” and “The Stephanie Miller Show.” The TV version of Press’ nationally syndicated radio program will air weekdays from 6 a.m. to 9 a.m. Eastern time. The TV simulcast of Miller’s show will follow from 9 a.m. to 12 noon Eastern time. The program block will begin this Spring, the left-leaning political TV network announced Monday. The new programs join Current’s prime-time slate anchored by “Countdown with Keith Olbermann.” -AP

WEDNESDAY, march 7, 2012

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Desperate Housewives creator describes star spat

LOS ANGELES: The creator of “Desperate Housewives” told jurors Monday he thought he had permission to tap the head of Nicollette Sheridan but acknowledged the incident created a strained and awkward dynamic with an actress he considered smart and funny.

Marc Cherry testified during Sheridan’s wrongful termination trial that by the time he hit Sheridan in Sept. 2008 - he calls it a tap for artistic direction, she contends it was a wallop - he had already received permission to kill off her character in the script.

Those plans only moved forward after an investigation

by ABC, which airs “Desperate Housewives,” cleared him of wrongdoing despite officials never interviewing him or Sheridan about their dispute. He testified that he told series stars Eva Longoria and Felicity Huffman that he intended to kill off the character Edie Britt months before he told Sheridan.

Much of Cherry’s testimony corroborates Sheridan’s version of events, although the actress has told jurors she never gave permission for the show’s creator to touch her, much less strike her in a way that she said left her stunned. The incident occurred on the show’s set as the actress and Cherry discussed her lines for a scene that Sheridan didn’t feel had enough comedy. “I didn’t need permission,” Cherry said. “Permission was understood.”

He said he wanted the actress to have some physical interaction with her onscreen husband in the scene and acknowledged that during a deposition he testified that he “resorted to demonstration to get my point across.” In the scene, Sheridan’s character hits her husband with a magazine and tickles him, but doesn’t strike his head.

“I tapped her head,” Cherry said Monday.

He rejected the idea that he struck Sheridan hard and was upset that people thought he hit a woman. He said he regarded Sheridan as a rare talent: a beautiful actress who could pull off comedy.

Sheridan, who is seeking more than $6 million, told jurors last week the incident rattled her. “It was humiliating,” Sheridan told the jury last week. “It was demeaning. It was unfathomable to me that I had just been hit by my boss.”

Cherry was flustered at times during questioning by Sheridan’s attorney Monday, but became more comfortable as his own attorney asked him to describe how he developed “Housewives” after a conversation with his mother more than a decade ago. The idea grew out of watching a trial about a mother who drowned her child, Cherry said, and his mother’s revelation that she had felt moments of desperation and anger.

“I’ve always thought of my mom as the perfect wife and mother,” he told the jury, adding that he wanted to explore the

Nicollette Sheridan arrives in court where she will be taking the stand for opening arguments in her ‘Desperate Housewives’ lawsuit at County Courthouse on March 1, 2012 in Los Angeles, California. (AFP)

secret lives and desires of women when he created “Desperate Housewives.” Cherry testified that he had three reasons for killing off Britt - creative, cost-cutting, and complaints about Sheridan’s behavior. He acknowledged there wasn’t any documentation about the actress’ alleged bad behavior, which included claims of tardiness, forgetting lines and treating a prop person rudely.

Mark Baute, Sheridan’s attorney, has noted that Sheridan’s contract was renewed just days after the May 2008 meeting

“Desperate Housewives” creator and executive producer, Marc Cherry leaves court Friday March 2, 2012, in Los Angeles. (AP)

during which Cherry claims he was given permission to fire the actress. That renewal decision meant the actress’ pay was bumped to $175,000 per episode and she received a full share of profits from the series.

Baute also played a clip of an interview Cherry gave before the start of season five, which was Sheridan’s last, in which he said the show would focus on the lives of five characters played by Teri Hatcher, Marcia Cross, Longoria, Huffman and Sheridan. The show’s four other female stars are listed as potential witnesses at the trial. -AP

Comic impressionist Steve Bridges dies in LA LOS ANGELES: Impressionist Steve Bridges, who used prosthetics and wigs to turn into presidents and laughs to make a living, was found dead at his home, his manager said Monday. He was 48.

Bridges returned from China on Feb. 23 and complained to friends of “super jet lag,” manager Randy Nolen said. Bridges’ maid found the comic dead about 9:30 a.m. Saturday in his Los Angeles home, Nolen said.

It appeared that he died of natural causes, but an autopsy will be conducted, said Craig Harvey, chief of operations for the Los Angeles County coroner’s office.

Bridges’ George W. Bush impression made him a regular on “The Tonight Show with Jay Leno” and earned him an invitation to the White House in 2003. In 2006, Bridges joined Bush in a comic routine at the 2006 White House Correspondents’ Association dinner in Washington, D.C., and at a Ford’s Theatre benefit.

Nolen said Bush called Bridges’ brother, Phillip, on Monday and offered condolences. “Steve was not only a funny man, but a kind and decent human being.

My heartfelt sympathies go out to his parents, his siblings, and his entire family,” Bush told The Associated Press through spokesman Freddy Ford.

“We had a great 10-year run,” Nolen said. “He went to the White House, the Oval Office, toured with Barbra Streisand and was a regular on the ‘Tonight Show’ for almost eight years.” Bridges became Barack Obama, Bill Clinton or Bush for his most popular shows.

The makeup and prosthetics used for Bush and Clinton were designed by Kevin Haney, who won an Academy Award for aging Dan Aykroyd in “Driving Miss Daisy.” Obama was done by Kazu Tsuji, who designed Jim Carrey’s Grinch in “How the Grinch Stole Christmas.”

FILE - In this April 29, 2006 file photo, President George W. Bush, (left,) and Steve Bridges, a comedian and President Bush impersonator, gestures during the White House Correspondents’ Association’s 92nd annual awards dinner in Washington.

(AP)

Mari Enyart was Bridges’ makeup artist. “From the neck up, everything but his teeth was covered in a prosthetic piece of some sort,” Nolen said about the impersonations of presidents. “It was as extensive, as good and as complicated as anything you would see in a motion picture.”

It took nearly four hours to apply the Obama makeup and nearly three hours to do Bush and Clinton. Close attention was paid to age marks and freckles on his hands because they were so visible, especially if a skit was being filmed.

Bridges had been scheduled to do three free shows on March 13, 14 and 15 for the Indian Wells Rotary Club to help raise money for students who wanted to

go to college. Because of the time it took to get ready, he was going to be a different president each night.

Sometimes, Bridges would do shows without makeup that were titled “Steve As Steve” and showcased his 200 voices - from Bill O’Reilly to Rush Limbaugh to Tom Brokaw and all the presidents from Kennedy to Obama, Nolen said.

Born in Dallas, Bridges loved football and was a big Cowboys fan. Bridges is survived by his parents, Thomas and Margaret Bridges, brothers Phillip and Jon, and sister Elizabeth Bridges. A service will likely be held in the next few days near the family’s Northern California home, with a memorial service to follow in Los Angeles. -AP

James Cameron leading Titanic anniversary TV special LOS ANGELES: “National Geographic Explorer-in-Residence” -- and “Titanic” movie Oscar winner -- James Cameron will lead a new two-hour special called “Titanic: The Final Word With James Cameron” on April 8 to mark the 100th anniversary of the Titanic’s sinking.

Described as the “ultimate cold-case investigation into the tragedy,” Cameron’s NatGeo special will unfold on a sound stage with a 42foot replica of the ship in the background, as Cameron gathers the world’s foremost Titanic experts -- engineers, naval architects, artists and historians -- to try to come up with the ultimate explanation of why the unsinkable ship sank in April 1912.

“An investigation of this magnitude has never been attempted before, and some of the revelations may alter the fundamental interpretation of what exactly happened to the Titanic,” according to a NatGeo release.

On April 9, National Geographic Channel will air “Save the Titanic With Bob Ballard,” in which Ballard, the man who discovered the Titanic’s final resting place in 1985, travels to Ireland to meet some of the men who helped build the ship and discusses how the ship’s remains are in danger from looters, among other threats.

“If the Titanic is not protected and there’s no guard on duty, it will get stripped,” Ballard said in a statement.

“It’ll get stripped until all the jewels have been taken off the old lady’s body.”

National Geographic magazine will devote a cover story to the Titanic anniversary; Cameron’s 1997 “Titanic” film, which won 11 Oscars, will be re-released on April 4, including IMAX 3D showings. -Reuters

Woman claims harassment at Paula Deen restaurant SAVANNAH: The former general manager of a Savannah restaurant co-owned by Paula Deen claimed in a lawsuit filed Monday she was sexually harassed and subjected to a hostile work environment rife with sexual innuendo, physical intimidation and racial slurs.

Lisa Jackson said in the lawsuit, filed in Chatham County Superior Court, her physician encouraged her to quit working at Uncle Bubba’s Seafood and Oyster House because she suffered from panic attacks and other stress from working there.

The restaurant is owned by Deen and her brother Bubba Hiers.

Jackson said in the lawsuit that Hiers routinely made inappropriate sexual and racial remarks and that she heard both Hiers and Deen use racial slurs. She also said in the lawsuit she saw Hiers violently shake a black employee and that he fostered an environment of intimidation.

A spokesman for Deen declined to

comment on the pending litigation, and Hiers didn’t immediately return calls seeking comment.

Jackson, who is white, was hired at the restaurant in February 2005 and within months was promoted to general manager with a mandate from Deen to turn it into a success.

Hiers soon began targeting her with unwanted advances, she said, and he watched pornography in the small office the two shared. He also distributed pictures of two women having sex at an office meeting and complained about heavier staff members, the complaint said.

She said Hiers made racially insensitive remarks and that his restaurant required black staff members to use the back entrance and banned them from using a customer restroom that white staffers were allowed to use.

During one meeting in July 2010, she said Hiers violently shook a black male

kitchen worker.

Deen later decided to invite the man to her mansion to smooth things over rather than to address her brother’s conduct, the lawsuit said.

In another incident, Hiers challenged his staffers to a fight, she said.

Jackson said she routinely suffered from panic attacks that often began when Hiers came to work each morning. The situation came to a head in August 2010 when Jackson said Hiers grabbed her face during a dinner for vendors at the restaurant and declared “I love you,” then later screamed at her and spit in her face.

Jackson said she left her job days later after her doctor suggested quitting her job would improve her health. She said in the lawsuit, which seeks unspecified damages, that she “continues to endure immense pain and has suffered greatly at the hands of Defendants’ outrageous and intolerable conduct.” -AP

FILE - Paula Deen visits Extra at The Grove on Oct. 25, 2011 in Los Angeles, California. (AFP)

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ALWATAN DAILY

AROUND TOWN / TIME OUT

WEDNESDAY, MARCH 7, 2012

If you have an event you wish to include, please email: aroundtown@alwatandaily.com

Feature o f

graffiti

the day

moderately confused

Zafran’s master chef to reveal secrets of Indian cuisine with exclusive cooking courses

KUWAIT: Zafran, the contemporary Indian restaurant by Foodmark, is inviting food enthusiasts to discover the secrets of Indian cooking with a series of exclusive cookery courses hosted by Zafran’s executive chef, Mohit Dhiingra.

The classes and demonstrations, held at Zafran’s kitchens during March,April and May, will teach budding chefs about the subtleties and intricacies of the authentic, exciting flavors used in Indian cuisine, as well as the underlying medicinal properties of the spices used. The classes will be held at Zafran every Saturday from 10:00 a.m. - 12:00 p.m. priced at KD 12 per head per session.

In addition to the cooking sessions the participants will also be treated to a two-course lunch and will get to take home a goodie bag with homemade chutney, spice mix and a recipe book.

Food enthusiasts will have the opportunity to recreate an abundance of mouth-watering dishes from a wide range of Indian cooking styles, from learning the secrets behind the traditional spices used in dishes such as Tandoori chicken, to attaining the tender flavor of the Reasha Galouti from the North.

Month a t

Guests can also enjoy sampling dishes, which Chef Mohit will prepare for them on the day and receive advice on how to deliver sophisticated presentation with simple ingredients, all of which will be sure to impress dinner party guests.

Sajan Alex, Country Operations Manager, Foodmark Kuwait, said: “Learning to cook is a wonderful way to gain insight into different traditions and cultures. Zafran is all about flavor and indulging in Indian spices.

“A pinch of this and touch of that can make a world of difference to the taste of a dish, and learning the right balance is essential to creating well-rounded dish.

However, these spices have additional benefits, not just for your taste buds, but also for your health.

“Chef Mohit will demonstrate how to cook without the use of artificial flavors or colors and help guests gain an understanding of the medicinal application of spices used in the dishes. These courses will allow cooking enthusiasts across Kuwait to learn not just the ‘basics’, but also the philosophy behind Indian cuisine.”

Each region of Indian cuisine includes a wide assortment of dishes and cooking techniques.

Chef Mohit Dhingra will assemble and incorporate some of his favorite easy-to-prepare ingredients into approachable home-style dishes.

Sudoku

Elementary

Intermediate

Advanced

General A n n o u n c e m e n t s

a glance his teaching, workshop and his multitude of practices.

Arabic course March 11-April 19/ TIES Center: TIES Center is glad to announce the start of Arabic courses. We offer classes for all levels, from beginners to advance and also introduced new classes called Kuwait dialect. TIES Arabic classes are intended for all expatriates who wish to learn Arabic for whatever purposebusiness, basic communication, as a second language or simply as a hobby. For more information/registration, contact 97228860/97793440.

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.

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.

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

Kuwaiti cuisine March 15-April 5/6 p.m. - 8 p.m./TIES Center: TIES Ladies Club invites you to our Kuwaiti cuisine classes which will start soon. Join us for a one month cooking program where you will learn to cook real Kuwaiti food. All ladies are invited to join our classes and let your family enjoy the mouth watering Kuwaiti cuisine. For more information/registration, contact 25231015/6.

Second and fourth Tuesday/ 7 p.m. - 9 p.m. / Jabriya: A new Toastmasters Club is being formed and encouraging new members to join. Toastmasters International is a world leader in communication and leadership development. It is a non-profit international organization dedicated to improve member’s communication and leadership skills by attending and participating toastmasters meetings. For more information, please contact Khaled Al-Hashem at 65588824.

Golden Era Club

Waist Watchers

March 9/ 5 p.m. - 7 p.m. / Rumaithiya: It’s all about sharing and caring. The Golden Era Club invites all seniors to a very special meeting. Come check it out. Venue- House #34, next to Abu-Tammam Intermediate School for Boys, Sate Alhusari St., Block 2, Rumaithiya. For details call 97172788/ 66208183 or drop a line to goldenera60@yahoo.com

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.

Art exhibition

Hip Hop at BAIA

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

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

Royal Thai Embassy The Royal Thai Embassy in Kuwait wishes to invite Kuwaiti companies that deal business with Thai companies or those agencies of Thai commercial companies to visit the Embassy’s Commercial Office to register their relevant information to be part of the embassy’s business and trade database. The Royal Thai Embassy is located in Jabriya, Block 6, Street 8, Villa No. 1, Telephone No. 25317530 -25317531, Ext: 14.

EducationUSA Do you have questions regarding studying at a university in the US? AMIDEAST can help.

Please visit our EducationUSA Advising Center in Sharq, and attend one of our weekly free group advising sessions, held every Monday, from 3 p.m. to 4 p.m. For further information, visit: www.amideast.org, telephone us at 2247-0091, ext. 6819, or E-mail us at: kuwait@ amideast.org.

Nancy

Horoscopes Aries: March 21 - April 19

Be more adventurous than usual, Aries. Feel free to take a trip somewhere without bringing a map or having any specific destination in mind. The sheer excitement of the unknown should thrill and enthuse you, not frighten and confuse. Your enjoyment of the situation has to do with your attitude toward it. You may not be able to control the hand you’re dealt.

Taurus: April 20 - May 20

You might find yourself in a difficult situation when faced with a person who doesn’t necessarily approve of how you’re handling yourself, Taurus. It could be that someone misinterpreted one of your offhand remarks, and now is violently overreacting. Be careful of shooting back caustic remarks that could only aggravate the situation and elevate it to a damaging level.

Gemini: May 21- June 21

Your interest in certain off-the-wall topics may be encouraged when you’re engaged in a conversation with someone who shares similar thoughts, Gemini. Perhaps you exchange ideas about UFOs and life on other planets. Suddenly you’re looking at your life as if you were a character in a science-fiction novel.

Cancer: June 22 - July 22

Take your leadership abilities to a new level, Cancer. Gather some friends and plan a trip that you’ve long been considering but were reluctant to act on.

People will naturally look to you for leadership and guidance, as you always seem to know how to keep things fun and positive. When it comes to your workplace, this might be a good time to ask for more responsibility - and a raise.

Leo: July 23 - August 22

There may be a stalemate when you’re unwilling to express your feelings, Leo. You might automatically assume that things will go smoothly if you leave the decisions up to someone else. Unfortunately, that plan will likely backfire if the decision is made by someone who doesn’t necessarily have your best interests at heart. You may try to go back and reverse what has been done.

Virgo: August 23 - September 22

Decisions don’t have to be as hard as you make them, Virgo. You may feel as if a strong force is pulling you in a clear direction, so don’t resist it.

You’ll only drive yourself crazy trying to list all the reasons why you should or shouldn’t go the way you’re destined to go.

Libra: September 23 - October 22

Look at things from a more philosophical perspective, Libra, instead of seeing everything from such an intensely emotional one. You may have a constant fear that everyone is out to get you. More than likely, you’re blowing small instances out of proportion in your mind. Use your friends as a sounding board for your thoughts.

Scorpio: October 23 - November 21

This is your day, Scorpio, so don’t waste it. Being the helpful, friendly person you are, you may find yourself catering to other people’s needs and desires. Some could see you as the good Samaritan who can offer advice with a friendly attitude. Be careful of draining away all your energy on others. This day might be better spent by catering to you.

Sagittarius: November 22 - December 21

Reward yourself for all the great things you’ve done for you and other people, Sagittarius. You deserve to be treated like royalty, so make sure that you do. There are many times when you get so critical of the things you do that you end up punishing yourself unnecessarily.

Capricorn: December 22 - January 19

Put your wisdom into action, Capricorn. There is no good in accumulating knowledge and then letting it sit, collecting dust like an old book on a shelf. Put your thoughts into motion and watch as magical things begin to manifest before your eyes. You have incredible opportunities today that only come when you’re expressing yourself in your truest form.

Aquarius: January 20 - February 18

Enjoying the good times may be fun, but it may also get you into trouble down the road, Aquarius. Be careful of spending all your resources on pleasure without setting something aside for leaner times.

The company you keep could encourage your self-destructive behaviors. Since they know you’ll always be in for a good time, you could get swept away by the energy of the crowd.

Pisces: February 19 - March 20

The surge of power within you is going to let others know that you mean business, Pisces. Make good use of this fantastic boost of energy by conquering your own goals and demons instead of using it to wage war on anyone else. Other people should know to get out of your way when you have your mind set on doing something.

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ALWATAN DAILY

SPORTS

wednesDAY, march 7, 2012

Cricket

Dilshan shines as Sri Lanka even up final series BRISBANE: Tillakaratne Dilshan and Mahela Jayawardene shared an opening partnership of 179 as Sri Lanka hammered Australia by eight wickets on Tuesday to take the oneday international Tri-series final to a third and deciding match.

Dilshan smashed 106 and Jayawardene 80 to help propel Sri Lanka towards their victory target of 272 with 34 balls to spare and ensure the teams would return to the Adelaide Oval on Thursday to decide the tournament victors.

Michael Clarke earlier hit a superb 117 and David Warner backed up his 163 in the hosts’ victory in the first match of the final at the Gabba on Sunday with a more circumspect 100 in a stand of 184 for the third Australian wicket.

The Australians, both clearly hampered by injury, failed to drive home their advantage though and the tally of 271 for six from 50 overs looked under threat almost from the moment the Sri Lankans came out to bat.

Captain Jayawardene got a life on one when he was dismissed caught behind by Clint McKay but was called back to the crease after a television review revealed a no ball.

From then on it was plain-sailing and the hundred partnership came up from the first ball of the 16th over as Australia’s bowlers labored and their fielders showed a sloppiness they

have avoided for most of the season.

Paceman James Pattinson finally separated the openers when he trapped Jayawardene leg before with an in swinger but by then the Sri Lankans were only 93 runs short of their victory target.

Dilshan, who scored an unbeaten 160 against India earlier in the series, took his bow for his 12th one-day international century two balls before he reached the mark but no number of scoreboard errors were going to save Australia from defeat.

Mike Hussey finally caught Dilshan at deep midwicket off the bowling of Brett Lee but Kumar Sangakkara (51 not out) and Dinesh Chandimal (17 not out) comfortably accumulated the remaining 38 runs required for victory.

Quick bowler Lasith Malinga spilled one over the boundary for a six to trigger a brilliant spell where Clarke hit Farveez Maharoof for 21 off one over.

Lefthander Warner, troubled by a groin injury, was subdued by his high standards and departed as one of Malinga’s three victims with four fours and one six two his name in a 140ball 100.

Clarke followed soon afterwards, run out when his lack of mobility left him unable to race for safety at the end of his 91-ball knock, which included five fours and fours sixes. -Reuters

Bangladesh drop Tamim for Asia Cup

Dhaka: Bangladesh cricket chiefs on Tuesday axed aggressive opening batsman Tamim Iqbal for the Asia Cup one-day tournament starting in Dhaka on March 11. Former captain Mashrafe Mortaza returned to the 14-man squad after steering Dhaka Gladiators to victory in the inaugural Bangladesh Premier League (BPL) Twenty20 competition.

Tamim, widely regarded as Bangladesh’s number one batsman, was overlooked despite being declared fit from a groin injury he sustained during the BPL. Chairman of selectors Akram Khan told AFP that Tamim’s name was not approved by Bangladesh Cricket Board (BCB) president Mustafa Kamal.

“It’s a decision of the president,” Khan said. “He selected the final squad, not us.”

The return of Mortaza, a right-arm fast bowler who had been out of the national side for a year because of a recurring knee injury, will bolster the bowling attack of the hosts.

Alok Kapali, Rubel Hossain, Naeem Islam, Shahriar Nafees and Farhad Reza were not considered for the Asia Cup after being involved in matches against Pakistan towards the end of last year.

Opener Anamul Haque is the only uncapped player in the squad, while batsman Mohammad Nazimuddin, wicketkeeper-batsman Jahurul Islam and seamer Shahadat Hossain earned recalls after good showings in domestic leagues. The BCB said it will announce the name of the captain later.

Defending champions India, Pakistan and Sri Lanka are the other teams competing for the Asia Cup. -AFP

TENNIS

Sharapova, Roddick win in exhibition match NEWYORK: Maria Sharapova beat Caroline Wozniacki but lost the one point she played against Rory McIlroy. Roger Federer dropped the one point he played against a Rafael Nadal-impersonating Andy Roddick and also lost the match to Roddick.

Four of tennis’ biggest names took the court at Madison Square Garden on Monday for the mix of playfulness and intense play that comes with exhibitions.

With Wozniacki a game away from losing 6-3, 6-4 to Sharapova, she invited her boyfriend onto the court a day after the golfer won the Honda Classic in Palm Beach Gardens, Fla., to ascend to No. 1 in the world for the first time.

Early in Roddick’s 7-5, 7-6 (7) win over Federer, some smart-aleck fans yelled, “Let’s go, Rafa!” So Roddick played along by pushing up his sleeves and switching his racket to his left hand. He wound up playing the point right-handed, but grunted with every shot and celebrated winning the point with an exuberant fist pump that would have made Nadal proud.

Roddick, a self-described “massive” sports fan, was playing in the Garden for the first time during the BNP Paribas Showdown. He remembers Michael Jordan’s big games there, Reggie Miller trash-talking with Spike Lee.

Andy Roddick, Caroline Wozniacki, Maria Sharapova and Roger Federer pose for a photo prior to a press conference for the BNP Paribas Showdown, March 5, 2012. (AFP)

“To be able to play here where so much history has happened, so many events have happened in every area of entertainment, it was a real special experience for me,” he said.

Coming back from a right hamstring and right ankle injury, Roddick has fallen to No. 31 in the world.

“It was a great atmosphere,” he said.

“I really enjoyed myself and that led to me playing well. Hopefully I can use this a little bit.”

When Roddick failed to match Federer’s between-the-legs shot on one point, he threw his racket then winced when it almost hit a ball girl. Roddick was 2-21 in his career against Federer.

Wozniacki has been ranked No. 1 for 67 weeks in her career, though she’s currently down to No. 4. Sharapova and Wozniacki got into the spirit of the exhibition at times: exchanging smiles after a well-played rally, surrendering a point to make up for a missed call, dancing with fans before the final game.

The second-ranked Sharapova wasn’t conserving energy, though. After breaking back to 4-4 in the second set, she chased down a drop shot and then a lob, throwing her hands up in frustration when her shot ricocheted off the scoreboard. -AP

Sri Lanka’s Tillakaratne Dilshan (right) cuts a ball away as Australia’s Matthew Wade (L) looks on during the second international one-day cricket final in Brisbane, March 6, 2012. (AFP)

Basketball

Orlando lives in fear of being abandoned by ‘Superman’ TORONTO: Dwight Howard is the face of the Orlando Magic franchise but the towering center and scoring leader’s uncertain future in Florida following a trade request is taking its toll on team moral. The Magic, one season on from a firstround loss in the National Basketball Association (NBA) playoffs, are battling the Miami Heat for the Southeast division crown but Howard’s future and how it may impact his team mates remains high on the agenda.

Howard, 26, who was drafted first overall

by Orlando in 2004 and led the team to three consecutive division titles from 2008, requested a trade ahead of the current lockout-shortened season in December, expressing a desire to explore pastures new. If the Magic (25-14) do not move the six-times All-Star and three-times defensive player of the year by the March 15 trade deadline, they risk losing him for free in July when he can become a free agent. For Magic fans who watched Shaquille O’Neal leave Orlando for nothing in 1996 prior to winning three NBA titles with the Los Angeles Lakers and one with Miami, the possibility of losing Howard under similar circumstances is not sitting well.

The attention on Howard’s future is the most directed at any prospective free agent since twotime NBA most valuable player LeBron James went on national television to announce his much-publicized move to Miami in 2010.

Howard, who entered Monday’s game averaging 20.4 points and a league-high 15 rebounds per game this season, would be a hot commodity for teams seeking to complement their roster in

FILE - Orlando Magic center Dwight Howard (12) reacts as Atlanta Hawks celebrate behind him after Game 6 of an NBA basketball Eastern Conference, April 28, 2011. (AP)

anticipation of a deep playoff run. Known as Superman because of the red cape he attired during the NBA’s Slam Dunk contest in 2008, Howard

recently hinted that he may be open to staying in Orlando if the organization makes moves to bolster the roster. -AP

Thunder rally late to beat Mavericks 95-91 OKLAHOMA CITY: The Oklahoma City Thunder’s top trio struggled to make shots all night. With one final flurry, they were still able to keep rolling at home. Russell Westbrook scored 24 points, Kevin Durant added 22 and the Thunder scored the final eight points to escape with a 95-91 victory over the Dallas Mavericks on Monday night and run their home winning streak to 13 games. Durant, Westbrook and top reserve James Harden went a combined 16 for 49 from the field as Oklahoma City managed to pull one out without needing to make a basket in the final 2 minutes. Westbrook answered Dirk Nowitzki’s

fourth 3-pointer of the final period by hitting one of his own from the right wing to get Oklahoma City within 91-90 with 2:25 remaining, and Dallas didn’t score again. Serge Ibaka hit two free throws with 46 seconds left to give Oklahoma City the lead, and Jason Terry missed two shots down the stretch for the Mavericks. Afterward, Dallas coach Rick Carlisle protested the call that allowed Ibaka to attempt the go-ahead free throws after Ian Mahinmi swatted his shot away. The Mavericks still had a shot to go back ahead and then another attempt at the tie, but Terry missed both times.

Nowitzki finished with 27 points but didn’t

touch the ball on a key possession when Dallas was down by two with 13 seconds left.

The Thunder scored the final three points of the first half and then were able to reverse a seven-point halftime deficit during the third quarter.

Oklahoma City scored the first seven points after halftime to tie it at 52 on Westbrook’s jumper from the right elbow with 9:24 left, then pulled ahead 68-61 with another string of seven consecutive points late in the third. Nowitzki scored all 12 of his fourth-quarter points by making all four of his 3-point attempts but he never got a chance when it counted the most. -AP

Bulls blow away Pacers in second half CHICAGO: A dynamite third quarter

by Derrick Rose and the Bulls denied Indiana any chance of a second straight win in Chicago. Luol Deng scored 20 points, teaming with Rose in a decisive rally that sent Chicago to its seventh straight victory, 92-72 over the Pacers on Monday night.

Rose added 13 points and nine assists, hitting three 3-pointers while Deng had two in the third as the Bulls blew open a close game. Joakim Noah had 17 rebounds to lead the Bulls to a dominating 60-32 edge on the boards. Chicago outscored the Pacers 20-4 on second-chance points. John Lucas III scored 13 points, one of three Chicago reserves in double figures.

Paul George scored 21 points for Indiana, which had a six-game winning streak snapped. George Hill scored 17 points off the bench.

The Bulls improved their league-best record to 32-8. Chicago stretched its lead to 2 1/2 games over Miami atop the Eastern Conference and to seven games over Indiana in the Central Division. The Pacers were trying to win a seventh straight game for the first time in eight years.

Chicago avenged a 95-90 loss to the

Pacers on Jan. 25, one of just two home losses this season. Rose was irked after that game because of what he perceived to be Indiana’s excessive celebration on the court after the game ended, saying “I can’t wait till we play them again.” Ronnie Brewer came on for Hamilton and had 12 points and seven rebounds in 39 minutes.

Fellow reserve Taj Gibson added 10 points and nine boards.

Indiana led by three two minutes into the second half when the Bulls went on a 20-4 spree that featured a pair of nine-point runs. After starting the game by missing nine of his first 10 shots, Rose capped the first run with a 3-pointer to put Chicago up 53-47. Indiana closed within four before Chicago hit three consecutive 3-pointers, one by Rose and the last two by Deng. His long one from straight on as the shot clock expired put Chicago up by 13.

The Bulls extended the lead to 19 by the time their third-quarter burst ended.

Chicago outscored the Pacers 33-13 in the period, held Indiana to 6-of-22 shooting and outrebounded the Pacers 18-7. Rose had 11 points and five assists to lead the charge. -AP

Chicago Bulls’ Derrick Rose goes to the basket as Indiana Pacers’ David West defends during an NBA basketball game in Chicago, March 5, 2012. (AP)

wednesdAY, MARCH 7, 2012

SPORTS

Sports Editors Highlight

DHAKA, Bangladesh: FIFA President Sepp Blatter is in Bangladesh to discuss football with national federation officials. Blatter arrived in Dhaka on Tuesday from New Delhi as part of his tour of Asia. FIFA says in a statement that Blatter will have talks with officials from the Bangladesh Football Federation, and is also expected to meet Prime Minister Sheikh Hasina. Blatter said on Twitter that it’s his first visit to the country since 2006 and that he is “looking forward to see how much progress has been made.” Blatter is visiting Bangladesh, Nepal, Bhutan and India between Tuesday and Friday. He is scheduled to leave Dhaka for Bhutan on Wednesday morning.

The Bangladeshi national team is ranked 157th on the FIFA world rankings. -AP

Football

Leverkusen set for defeat at passing kings Barca MADRID: Bayer Leverkusen face what looks to be the near-impossible task of putting three goals past Barcelona at the Nou Camp on Wednesday and to do so they will need to dethrone the undisputed passing kings of Europe.

Holders Barca, who won last month’s Champions League last-16 first leg in Leverkusen 3-1, have conceded just five goals in 13 home La Liga games this season and let in only two at the Nou Camp in their three group matches in Europe’s elite competition.

A big reason opponents find it so difficult to score against Pep Guardiola’s side is that they rarely go a game without having the ball for at least 70 percent of the time, their mesmerizing passing game grinding teams into submission.

“The fact that it is a tough prospect is clear to all of us but it’s not over until it’s over, as the saying goes, and we’ll wait and see what happens,” Leverkusen forward Stefan Kiessling said in an interview. “We want to go there and do ourselves justice and look for our chances.”

The size of the task that faces the Germans is underlined by the fact that Barca are unbeaten in 13 European home matches since October 2009, with 11 wins and two draws, while Leverkusen are without an away victory in the competition in a decade.

However, they could not have wished for a better dress rehearsal for the trip to the Catalan capital after Kiessling scored in a 2-0 win against Bayern Munich on Saturday - their third straight league success.

Barca, missing the suspended Messi, had Gerard Pique sent off just after halftime at home to La Liga strugglers Sporting Gijon on Saturday but managed to grind out a 3-1 victory thanks to goals from Andres Iniesta, Seydou Keita and Xavi.

“To win against Bayern is special,” Leverkusen coach Robin Dutt said. “If we continue playing like we have done in the past few weeks then the results will come.

Of course it’s going to be tough to win 3-0 in Barcelona but I don’t think it makes any sense to think about that.

Barca will be without Alexis Sanchez, who scored

FILE - Leverkusen’s Stefan Kiessling (left), Lars Bender and Barcelona´s defender Carles Puyol vie for the ball during the UEFA Champions League first leg match Bayer Leverkusen vs FC Barcelona, Feb. 14, 2012. (AFP)

twice in the first leg, after the Chile forward damaged an adductor muscle in the Gijon game and will be sidelined for between 10 and 15 days.

Spurs aim to stop defensive rot in FA Cup replay ENGLAND: Ledley King has demanded an end to Tottenham’s defensive problems ahead of Wednesday’s FA Cup fifth round replay with Stevenage.

Harry Redknapp’s side have shipped eight goals in their least two Premier League games-defeats to Arsenal and Manchester United that have dented Spurs’ bid to finish in the top three. The Spurs manager claimed individual errors were responsible for all three of United’s goals in Sunday’s defeat, and centre-back King agrees that performances have not been up to scratch.

A repeat of those mistakes against League One Stevenage at White Hart Lane could spell embarrassment for Redknapp’s team and deny the club the chance to face top-flight strugglers Bolton Wanderers in the sixth round. King made it clear there must be an immediate improvement if Tottenham are to maintain the progress they have made so far this season.

“You can’t fault the work rate and we gave a good account of ourselves for the majority of the game but if you fall asleep at vital moments, you get punished.

To allow them a free header in the six-yard box on the

brink of half-time was disappointing. It shouldn’t be happening. We lifted ourselves but we went to sleep on a throw-in for the second goal.”

Stevenage drew praise for their efforts in holding Spurs to a scoreless draw in the first leg. With a weekend trip to follow the midweek cup clash, King knows there will be no easy games between now and the end of the season.

He added: “There are tough games all the time because there are teams in the league now that are fighting for the league, fighting for European qualification and fighting against relegation. It will be a dogfight until the end. Every team wants to pick up points and we’re the same. We want to try to finish the season on a positive note. We’ve got a chance to get through to the next round of the FA Cup this week. We have to pick ourselves up during this week, be ready for that and keep going.” Tottenham’s recent dip in form has not gone unnoticed by Stevenage, who currently sit in seventh spot in League One, one place outside the play-off zone. -AFP

Di Matteo aiming to instill Chelsea passion LONDON: One of the first tasks for Roberto Di Matteo and his new Chelsea assistant Eddie Newton will be to instil passion into the team, the interim coach said on Monday. The Londoners have won only one of their last seven games in all competitions and coach Andre Villas-Boas paid the price for the form slump when he was sacked on Sunday.

“Eddie knows the club and many of the players,” said Di Matteo as he took charge of the side ahead of Tuesday’s FA Cup fifth-round replay at second tier Birmingham City.

“I have worked with him for many years and it was easy for him to slot in for us and give us a hand until the end of the season,” the 41-year-old Italian added.

“He is a Chelsea man and I want some passion from people who care about this club and this is one of our jobs as well, to transmit that to the team.” Newton previously worked under Di Matteo at West Bromwich Albion and the pair were midfield colleagues in the Chelsea team that beat Middlesbrough in the 1997 FA

Cup final. Both men scored a goal on that occasion at Wembley and it is ironic that Di Matteo and Newton will relaunch their partnership in an FA Cup tie.

The former Italy midfielder said everyone at Chelsea had gone through a tough time.

“It has been a very difficult 24 hours for a lot of people at the football club,” Di Matteo explained.

“Andre has brought some very good, positive ideas and changes and we will benefit from his changes. I enjoyed very much working with him and we will remain friends for the rest of our lives but I will have to move on for this club and try my best with the players we have here. Di Matteo could make alterations to the team against Birmingham who sprang a surprise by holding Chelsea to a 1-1 draw at Stamford Bridge last month.

“I have a good idea of the team I want to play in the replay but I am still uncertain about one or two positions and there might be a few changes,” he said. -Reuters

Hiddink makes winning start with Anzhi

MOSCOW: Dutch coach Guus Hiddink made a winning start in his new post as coach of big spending Russian Premier League club Anzhi Makhachkala with a 1-0 win away at Dynamo Moscow on Monday in their first match after the winter break.

Anzhi’s Brazilian midfielder Jucilei da Silva scored the only goal of the match but it failed to affect their league position as they remain seventh in the table with 55 points from 33 matches, 11 points behind leaders Zenit St Petersburg. Dynamo are third on 58 points.

“First of all I’m happy to come back to Russia and to start with a win here,” Hiddink said. “I think we deserved that win as we created several

good scoring chances in the first-half. I’m happy we managed to clinch all three points in such a hard match as the hosts Dynamo were playing very aggressively tonight.”

Dynamo were in control from the start pinning Anzhi back but failed to score an early goal. Anzhi relied on counter-attacks and in the 18th minute star striker Samuel Eto’o missed a great chance to break the deadlock after a mix-up in the Dynamo defence as his shot from 12 metres out could only hit the woodwork.

After the break both sides failed to conjure up many scoring opportunities until the 69th minute, when Jucilei opened the scoring firing home a rebound after a freekick by Mbark Boussoufa. -AFP

Fullback Eric Abidal picked up a groin injury while on international duty with France last week and is also out. -AP

APOEL looks to overturn deficit against Lyon NICOSIA, Cyprus: APOEL Nicosia will again try to defy expectations and overturn a 1-0 deficit against Lyon in the second leg of their Champions League matchup Wednesday to continue its historic Champions League run.

APOEL has already become the first Cypriot team to reach the round of 16 of the tournament and will rely on its home-field advantage to go even farther. The team has only lost once in 10 European matches at Nicosia’s GSP stadium, and earned group-stage wins over Shakhtar Donetsk and Porto there. The small club is still considered the underdog against a much more experienced Lyon, which is playing in the last 16 for the ninth straight season.

But APOEL’s players know that an upset on Wednesday will make history for the club and earn them a career highlight.

“Everybody’s expecting this moment, the most important in the life I believe of this club and a very important day of us as players, as a team,” APOEL’s Brazilian midfielder Gustavo Manduca said. “We must score, we must win. We’ll take the risk and we try to do our best to continue in this fantastic competition.”

A 4-1 win over lowly Ermis over the weekend kept APOEL close to Cypriot league leaders AEL and Omonia. It also helped quell fan ire over a string of poor performances that some viewed as a consequence of the team focusing on its Champions League campaign.

While Portuguese midfielder Helio Pinto is suspended, APOEL coach Ivan Jovanovic has the rest of his squad at his disposal.

APOEL owes much of its success in the tournament to its disciplined defense, but will have to go on the attack more in this game in search of a goal. Jovanovic will count on forwards Estaban Solari, Ivan Trickovski and star Ailton Almeida to exploit the defensive weaknesses of struggling Lyon which has lost three and drawn two in its last five French league matches. Lyon’s 2-0 loss to relegation-threatened Nancy on Saturday dropped the team to seventh place in the standings and drew an angry response from club president Jean-Michel Aulas.

APOEL’s push to score could create openings that Lyon’s speedy forwards can exploit on the counterattack.

Lyon has been boosted by the return of central defender Dejan Lovren, who has shaken off an Achilles injury. But it will be without playmaker Yoann Gourcuff, who is still nursing a groin injury, as well as defender John Mensah who is out with a hamstring injury. -AP