May 1, 2012

TUESDAY, MAY 1, 2012

@alwatandaily

Issue No. 1421

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150 Fils with IHT

‘Majority’ to push for closed-door grilling with Al-Humoud

Mohammed Al-Salman & Mohammed Al-Khaldi Staff Writers

KUWAIT: Certain members of the Majority Bloc are reportedly mounting pressure on the bloc to demand a closeddoor discussion of MP Mohammad Al-Juwaihel’s interpellation against the Minister of Interior Sheikh Ahmad Al-Humoud AlSabah to head off a potentially embarrassing situation for some members.

According to parliamentary sources, these MPs have decided to meet with the National Assembly Speaker Ahmad Al-Saadoun to underscore the need for him to strictly enforce the law in case Al-Juwaihel deviates from the issues originally in his interpellation motion.

It has been revealed that some members of the Majority Bloc are concerned that Al-Juwaihel may call names of certain naturalized individuals or those holding dual citizenship. The concerned MPs are equally anxious that they might have to vote for a no-confidence in the minister if the interpellator raised the

Kuwait posts KD 13 billion in budget surplus

KUWAIT: State budget posted actual surplus of 13.3 billion Kuwaiti dinars in the end of last February, the 11th month of the fiscal year that began on April 1, according to fresh statistical figures released by the Ministry of Finance.

The surplus was made as a result of actual revenues that amounted to KD 26.8 billion, actual spending of KD 10.8 billion and real liabilities standing at KD 2.6 billion, Projections for the mentioned period had put projected deficit at approximately KD 6.7 billion, as a result of forecast income of at KD 12.3 billion, approved spending at KD 17.8 billion and projected liabilities at KD 1.2 billion.

Projections for the whole financial year, 2011-2012, indicated at a prospected deficit of KD 7.3 billion, through forecast revenues of KD 13.4 billion, approved expenditure, after alteration, estimated at KD 19.4 billion and More on 9 prospected liabilities at KD 1.3 billion.

Sarkozy to sue over Gadhafi cash claim

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issue of Mohammad Al-Maimuni who has allegedly died from torture at the hands of undercover security personnel.

Reports have emerged that the ‘hawks” within the Majority Bloc will prevail on the government to file a request for the session to be held behind closed doors so as to avoid the minister and the government being embarrassed over the issue of naturalization.

In the same vein, the bloc is due to convene a meeting next week to discuss a mechanism for countering Al-Juwaihel’s interpellation, and other relevant issues.

For his part, MP Dr. Mohammad Al-Kandari has ruled out the prospect of a closed-door session. “If there is no obvious justification for the closed-door session, it will be held in public,” the MP said, adding the people of Kuwait are eager to assess the performance of their representatives in public.

Moreover, the Development and Reform Bloc is due to discuss the best means of confronting the scathing attack being launched by MP Nabeel Al-Fadhl against its member MP Dr. WaCONTINUED ON PAGE 2 leed Al-Tabatabaie.

Libya’s Gadhafi-era oil chief found floating dead in Danube

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Blasts in Syria’s Idlib kill ‘more than 20’

DAMASCUS: More than 20 people were killed on Monday in blasts targeting security buildings in the city of Idlib in northwest Syria, as an explosion was also reported in the capital, a monitoring group said. The violence a day after the arrival of the chief of a United Nations monitoring mission was sure to put further strain on a UN-backed ceasefire that went into effect on April 12 but has failed to take hold fully.

Most of those killed in Idlib were members of the security forces, the Syrian Observatory for Human Rights said. State television put the death toll at eight, among them civilians, and said scores of people were also wounded in the two blasts in Idlib’s Hananu Square, on Carlton Street.

The channel said “terrorists” were behind the attacks, a term it uses to refer to rebels seeking to overthrow the regime of President Bashar Al-Assad. It showed footage of bloodstains on the ground, and groups of angry people denouncing the violence and expressing support for Assad.

“Is this the freedom they want?” shouted one man, standing near a woman who was carrying a child with blood running More on 4 down his forehead.

New organism discovered with unique roots in the tree of life

Protesting residents of southern neighborhood Lyari disperse after police fired teargas during a protest against the government and police operation in troubled Lyari area in Karachi on April 30, 2012. At least 12 people including police officials were killed and several injured in three days in Lyari operation by Pakistani police swoop in the neighborhood infested with criminal gangs, local media reported. (AFP)

NEW YORK: A single-celled organism in Norway has been called “mankind’s furthest relative.” It is so far removed from the organisms we know that researchers claim it belongs to a new base group, called a kingdom, on the tree of life, according to new findings reported on LiveScience.

“We have found an unknown branch of the tree of life that lives in this lake.

It is unique! So far we know of no other group of organisms that descend from closer to the roots of the tree of life than this species,” study researcher Kamran Shalchian-Tabrizi, of the University of Oslo, in Norway, said in a statement.

The organism, a type of protozoan, was found by researchers in a lake near Oslo. Protozoans have been known to science since 1865, but because they are difficult to culture in the lab, researchers haven’t been able to get a grip on their genetic makeup. They were placed in the protist kingdom on the tree of life mostly based on observations of their size and More on 15 shape.

Beach Boys put past differences aside for reunion

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Badminton Horse Trials cancelled due to rain

LONDON: Organizers cancelled this year’s Badminton Horse Trials, arguably the world most prestigious annual three-day event, saying Monday there was “no chance” of the ground drying in time for that would have been a key part of many riders’ Olympic preparations.

The competition, which takes place in the grounds of Badminton House in Gloucestershire, was due to start on Friday.

As well as the upcoming London Olympics Games, this year’s Badminton had been given added significance by the fact Britain’s world number one William Fox-Pitt was gunning for the £220,000 ($358,000) Rolex Grand Slam prize awarded for any rider who wins consecutive Burghley, Kentucky and Badminton titles.

Weather instability expected to continue till Thursday

Fox-Pitt added the Kentucky title on Sunday to his Burghley victory seven months ago, both aboard Parklane Hawk.

But his chance of a clean sweep has now been dashed.

“The recent exceptional rainfall has left the ground at Badminton totally waterlogged and partially flooded,” Badminton director Hugh Thomas said Monday.

“Further rain is due this week, leaving no chance of the ground drying out.

“Very sadly, therefore, the 2012 Mitsubishi Motors Badminton Horse Trials has been cancelled.”

The event will not be rescheduled, with Monday’s announcement the first Badminton cancellation since 1987.

The event was also called off in 1963, 1966 and 1975. -AFP

Cars drive slowly in dusty weather on Monday April 30, 2012. According to the Director of the Meteorological Department in the Civil Aviation Mohammed Karam; the weather instability is expected to continue through Thursday.

More on 3 (KUNA)

Rebel chief Kony ‘in S.Sudan border areas’

KAMPALA: Fugitive rebel warlord Joseph Kony is operating in volatile border areas between Sudan and South Sudan, as well as the Central African Republic, Uganda’s army chief said Monday.

Kony, originally from Uganda, is based in remote regions between CAR, South Sudan’s Western Bahr el-Ghazal state, and Sudan’s South Darfur state, said Aronda Nyakairima, Uganda’s chief of defence forces.

“The last intelligence that they got from someone who surrendered indicated that Kony was somewhere in western Bahr-El-Ghazal at a point where the triangular borders meet,” Nyakairima said.

Uganda is leading an African Union force in the hunt for the head of the Lord’s Resistance Army (LRA) rebels, a force notorious for a grim campaign of rape, mutilation and murder.

Nyakairima said that Khartoum had armed the LRA and

given the brutal rebel group sanctuary prior to 2002, a move widely seen as retaliation for Uganda’s backing of southern rebels battling the Sudanese government.

However, Nyakairima said that although new uniforms of the Sudanese Armed Forces had been discovered with the rebels, there was no concrete proof Khartoum was still supporting or arming the LRA. “We know that area has Khartoum forces deployed in Southern Darfur... We have not come across a rifle or a bomb, but certainly we came across brand new uniforms,” Nyakairima said.

The uniforms could have been stolen or taken from dead soldiers, Nyakairima added.

The border between Sudan and South Sudan is undemarcated, a remote area where several armed groups are believed to operate, including both Sudanese Darfur rebels fighting the government and pro-Khartoum militia forces. -AFP

Heathrow told to stop apologizing for queues LONDON: Heathrow airport has been told by the UK Border Force to stop handing out leaflets to passengers apologizing for the “very long delays” at immigration three months before the London Olympics, an email obtained by the Daily Telegraph revealed Monday.

Following lengthy queues at passport control in recent days, airport operator BAA was also directed to stop people from taking pictures of queues in the arrivals hall after images were posted on Twitter. BAA tried to defuse increasing anger at the length of queues for travelers Saturday with the leaflet explaining the delays. People arriving in the UK “deserved a warmer welcome”, the Telegraph quoted the leaflet as saying, adding it explained how travelers can complain to the Home Office about the situation.

Marc Owen, director of UK Border Agency operations at Heathrow, wrote in an email obtained by the Telegraph: “The leaflet is not all right with us. It is both inflammatory and likely to increase tensions in arrivals halls especially in the current atmosphere. Some 80 percent of all visitors to the Olympics, which start on July 27, are expected to pass through Heathrow. -AFP

File photo of passengers queuing in Terminal 5 at Heathrow Airport.

Heathrow has been ordered by the UK Border Force to stop handing out leaflets to passengers apologizing for the “very long delays” at immigration. (AFP)

As waistlines expand... Costs soar

NEW YORK: US hospitals are ripping out wall-mounted toilets and replacing them with floor models to better support obese patients. The Federal Transit Administration wants buses to be tested for the impact of heavier riders on steering and braking. Cars are burning nearly a billion gallons of gasoline more a year than if passengers weighed what they did in 1960.

The nation’s rising rate of obesity has been well-chronicled. But businesses, governments and individuals are only now coming to grips with the costs of those extra pounds, many of which are even greater than believed only a few years ago: The additional medical spending due to obesity is double previous estimates and exceeds even those of smoking, a new study shows. Many of those costs have dollar signs in front of them, such as the higher health insurance premiums everyone pays to cover those extra medical costs. Other changes, often cost-neutral, are coming to the built environment in the form of wider seats in public places from sports stadiums to bus stops.

The startling economic costs of obesity, often borne by the non-obese, could become the epidemic’s second-hand smoke. Only when scientists discovered that nonsmokers were developing lung cancer and other diseases from breathing smoke-filled air did policymakers get serious about fighting the habit, in particular by establishing nonsmoking zones. The costs that smoking added to Medicaid More on 16 also spurred action.

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ALWATAN DAILY

kuwait

tuesdAY, may 1, 2012

Cabinet approves drafting several laws during weekly meeting

Photo of His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah (center) heading the Cabinets weekly meeting on Monday, April 30, 2012. (KUNA)

KUWAIT: The Kuwaiti cabinet held Monday its routine weekly meeting at AlSeif Palace headed by His Highness the Prime Minister Sheikh Jaber Mubarak AlHamad Al-Sabah.

Emerging from the meeting, Deputy Prime Minister, Foreign Minister and Minister of State for Cabinet Affairs Sheikh Sabah Khalid Al-Sabah said the cabinet was apprised of a recent letter to His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah from Sri Lanka Mahinda Rajapaksa on bilateral relations between Kuwait and Sri Lanka.

The cabinet then listened to a briefing from the Prime Minister on the outcomes of a recent visit to Kuwait by Tunisian President Moncef Al-Marzouki.

The minister Sheikh Sabah kept the

cabinet posted on the outcomes of the recent extraordinary meeting of Arab foreign ministers in Cairo on the current situation in Syria, the United Arab Emirates’ (UAE) islands, Sudan.

He also elaborated on the findings of the meetings of the Kuwaiti-Iraqi joint committee, which convened in Baghdad on Sunday.

In this context, he hailed the positive atmosphere in which the joint meeting was held, reflecting mutual desire to develop and reinforce bilateral relations.

Sheikh Sabah also briefed the ministers on the details of agreements and deal clinched between Kuwait and Iraq on the sidelines of the joint talks.

Afterwards, the cabinet approved a draft law revising Law 5/2007 regard-

ing the Kuwaiti Olympic Committee and sports federations and clubs in an effort to enable Kuwaiti sports teams to partake in all international sports events.

It is also intended to ensure impartiality as for disputes that could ensue among sports bodies, and to fulfill the requirements of international sports regulations.

The ministers then gave the thumbs up to a parliamentary recommendation urging amendments to Law 15/1979 concerning civil service. It mainly aims to set out rules for renewal of terms in office regarding leading state posts.

They also consented to a draft decree authorizing an administration college.

Finally, the ministers looked into reports on the latest Arab and international political situations. -KUNA

PM calls for backing ‘wide, responsible’ media

KUWAIT: His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah called on Sunday for extending all forms of support for “wise and responsible” media.

“Kuwait has been a pioneer in supporting open media through important media meetings,” Sheikh Jaber said in a statement on sidelines of the 9th Arab Media Forum.

Sheikh Jaber praised role of the Arab media to boosting awareness and contribute to genuine decision-making.

Arab Media Forum Secretary General Madhi Al-Khamees, in a speech at the opening of the forum, said the Arab media was experiencing critical phase amidst the Arab Spring.

This phase, he added, made the Arab citizen more active and linked to media more than ever.

The new media, said Al-Khamees, was forming political, social and cultural future of the Arab world. He said media was the mirror of every society “and through which we can read reality and hope for a better media future.” Al-Khamees said media was a “sensitive and dangerous” tool which could either result in advancement of retreat of societies.

Arab League Secretary General Nabil AlAraby said the Arab Media Forum has succeeded over the past years to be a tool of communication between journalists.

Al-Araby, in a speech delivered on his behalf by his assistant for media Mohammad Al-Khamlishi, said the Arab League was keen on developing the Arab media action.

Meanwhile, Tunisian minister of human rights and government spokesman Sameer Dilou said the Arab media perspective was still unclear.

He thanked the Forum for supporting the Tunisian revolution.

Governor of Makkah and founder of the Arab intellect foundation Prince Khaled Al-Faisal called for benefiting from modern communication means.

Prince Sultan bin Khaled Al-Faisal, delivering a speech on behalf of Prince Khaled Al-Faisal, hoped the Arab Media Forum achieves its objectives.

Kuwait Minister of Information Sheikh Mohammad Al-Abdullah Al-Sabah underlined importance of media but they should be used in the appropriate context.

The Forum organizers honored Arab journalists who won the Arab award for media creativity: Sameer Atallah from Lebanon, Kuwait’s ex-information minister Mohammad Al-Sanousi, Princess Reem Al-Ali of Jordan, Prince Khaled Al-Faisal, Tunisian human rights minister Sameer Delou and Sheikh Mohammad Al-Abdullah Al-Sabah.

-KUNA

Political activist Al-Enezi sheds light on Jahra residents’ concerns during forum

Minister opens Al-Me’jel Dialysis Center project

Photo of Minister of Health Dr. Ali Al-Obaidi (left) on Monday during the launch of Abdul Rahman Al-Me’jel Dialysis Center in the capital on Tuesday, April 30, 2012. (KUNA)

KUWAIT: Minister of Health Dr. Ali Al-Obaidi on Monday laid the corner stone for Abdul Rahman Al-Me’jel Dialysis Center in the capital, launched with donations from Al-Me’jel family.

Speaking on the occasion, the minister said the construction of the center depicted ideal values and beliefs of the Kuwaiti society, “for we have grown in this giving homeland on goodness and mercy and faithfulness and we are proud that generation after another adopts such ideal values.”

He praised the eminent Kuwaiti family for granting donations for construction of the dialysis center which “lively embodied these values and honorable principles.”

The minister affirmed need for construction of such centers to help patients with kidney illnesses, noting that the ministry was keen on upgrading the health services that match international standards.

Moreover, the ministry has worked out educational programs to fight diseases that lead to such complications, namely diabetes and cardiac diseases, through guidance on health ways of living and nutrition. -KUNA

‘Majority’ to push for closed-door grilling with Al-Humoud CONTINUED FROM PAGE 1

Al-Fadhl has been accusing Al-Tabtabaie of abuse of power and of being involved in irregularities.

In another development, a joint parliamentary committee has agreed with the government that undersecretaries should be allowed maximum 8-year tenure in office. The fate of assistant undersecretaries will be decided in the next meeting.

Furthermore, MP Abdulhameed Dashti announced that he had finalized a draft law concerning the rotation of power, which will be submitted next week after taking into account the views of certain personalities. The lawmaker remarked that the bill is intended to enhance the system of governance in the country.

Additionally, MP Musallam Al-Barrak revealed that a ‘notorious’ advisor is planning to turn the multimillion issue into a fraud case by convincing those accused of being involved in the case that the funds were transferred to their personal accounts as humanitarian assistance or to secure overseas medical treatment for certain citizens. The lawmaker promised to reveal the identity of the said advisor in public.

The MP noted that the alleged illicit financial transfers abroad and the multimillion deposits were done under the watchful eye of the Minister of Finance Mustafa Al-Shamali, adding that he addressed a question to the minister who has a two-week deadline to adequately respond the query.

In a related development, Al-Barrak stated that he had testified before the Tribunal for the Trial of Ministers on Sunday

over the lawsuit he filed against the former Prime Minister His Highness Sheikh Nasser Al-Mohammad Al-Sabah regarding the purported overseas financial transfers.

The lawmaker disclosed that he had presented the tribunal with another set of documents that prove his claim that public funds were illicitly transferred abroad to the former prime minister’s private accounts.

Meanwhile, Al-Barrak, who chairs Parliamentary Public Funds Committee, told reporters on Monday that the committee held a meeting to discuss two issues. These include the contract signed between the Kuwait Oil Company (KOC) and Shell as well as the alleged diesel smuggling in the presence of representatives from the Kuwait Petroleum Corporation (KPC).

Al-Barrak added that the committee will continue to investigate these issues until it reaches final conclusions, particularly certain features have begun to shape up, and expressed hope these issues are finalized as soon as possible.

He pointed out that the committee will hold its next meeting on Wednesday, and that invitations have been extended to local banks in order to have clues about the subjects under investigation.

In a separate development, the minister of interior declined to answer a question forwarded to him by MP Dashti with regard to the owner of the black Yukon in relation to Al-Maimouni’s case. In a statement, the Ministry of Interior regarded the parliamentary query an interference with the jurisdiction of the judicial authority.

Minister of Public Works and Minister of State for Development Affairs Fadhil Safar (right) during a media forum inaugurated by Political activist Talal Al-Enezi in Jahra two days ago.

Staff Writer

KUWAIT: Political activist Talal Al-Enezi inaugurated a media forum in Jahra two days ago. The event was attended by Minister of Public Works and Minister of State for Development Affairs Fadhil Safar and other senior ministerial officials. Al-Enezi said that Jahra lacks all constructions services required by Kuwaitis and non-Kuwaitis living in the governorate. He added that such meetings between the people and ministers cement democracy in Kuwait. He asserted that the area lacks such forums that allow people to complain directly to ministers and other senior officials, and mentioned that development and the problems of the governorate call for serious action from the officials.

In addition, Al-Enezi stated that the demands of the people of Jahra include turning intersections to roundabouts, making new roundabouts, new entrances and exits, changing the entrances to roundabouts and light signals, making entrances before roundabouts to avoid traffic congestion, making exits and entrances for wedding ballrooms, equipping and lighting parking lots, and constructing a new hospital for the people of Jahra; especially that the area lacks a hospital that caters to all the needs of citizens.

He called for shedding light on the sewage issues in Saad Al-Abdullah and other areas in Jahra, and demanded that the scrap yard is moved to an area that is remote from residential area. He also called for finding other areas for the factories, moving wastes and tires dump yards, and relocating military camps that surround residential areas.

Meanwhile, Safar explained that some projects are delayed as a result of bureaucracy. He mentioned that avoiding this problem requires time, and revealed that there are plans to untangle traffic congestions in areas with growing populations. He went on to say that streets in Kuwait can handle 850,000 cars in various hours of the day, but the number of cars is 1,600,000 cars, which causes severe traffic congestions if all those cars move at the same time. He noted that solutions include moving to new areas and limiting the number of driving licenses issued.

When asked by a citizen about Kabd Road project, he said that the Minister of Interior Sheikh Ahmed Al-Humoud had asked about this project, and that this project is being currently designed. He added that there is an extension to this road with the Seventh Ring Road, and explained that the Transportation Authority must be approved immediately by the National Assembly; especially since it will ease the traffic congestion and be a source of income to the authority.

Concerning drivers who drive recklessly, Safar said that speed bumps were made to prevent those people from making dangerous moves, especially at roundabouts. Regarding the development plan that was rejected by the National Assembly, he asked the members of Parliament (MPs) to adopt the plan, and asserted that the government will deliberate the plan with them until they approve it.

When asked about the reasons behind the exodus of Kuwaiti capital, he asserted that bureaucratic obstacles forced investors to take their investments elsewhere, since they seek fast profit.

Jordan King meets Kuwaiti MPs

AMMAN: Jordanian King Abdullah II met on Monday a visiting Kuwait parliamentary delegation on brotherly cooperative relations between Jordan and Kuwait.

During the meeting, they discussed developments and political changes in the Arab world and prospects for increasing economic and investment cooperation between the two countries, as Kuwait ranks first among Arab countries investing in the Kingdom.

Speaking to Kuwait News Agency (KUNA), Kuwaiti parliamentary delegation head Mubarak AlSaifi hailed the positive atmosphere in which the meeting was held, appreciating the Jordanian king’s interest in reinforcing bilateral relations.

Kuwaiti MP Khaled Al-Muteiri said the talks focused on several key issues, primarily Kuwaiti students in Jordan.

He said they had also discussed Kuwaiti-Jordanian cooperative ties in the legislative and parliamentary domains. Other members of the delegation expressed their appreciation of the King’s interest in boosting cooperation between the two countries.

They also hailed the strong ties between Jordan and Kuwait in various fields.

Kuwaiti investments in the Kingdom, which currently stand at 10 billion US dollars, are concentrated in the fields of medical tourism, ICT, health and education. -KUNA

ALWATAN DAILY

KUWAIT

TUESDAY, MAY 1, 2012

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Weather instability expected Iraq, Kuwait agree on forming cooperation commission, navigation to continue till Thursday

Maritime traffic comes to a halt in Kuwait due to poor weather

In the joint meeting between the Kuwaiti and Iraqi committees, the delegations are seen signing a Minutes contract on Monday, April 30, 2012. (KUNA)

BAGHDAD: Iraqi and Kuwaiti officials, following marathon talks, signed Minutes on Tuesday of the meeting of the higher Iraqi-Kuwaiti commission and two accords, one stipulating formation of a cooperation committee and the other regulating navigation through Abdullah waterway. A signed Minute is a formal record of an agreement which resolves in whole or in part, litigation and which, typically but not necessarily, is then presented to the Court to be incorporated into a consent order.

The two agreements were signed by Kuwait’s Deputy Prime Minister, Foreign Minister and Minister of State for Cabinet Affairs Sheikh Sabah Al-Khalid Al-Hamad Al-Sabah and Iraqi Foreign Minister Hoshyar Zebari.

Talks held between the two sides, held within framework of the supreme joint commission and sub-committees, had lasted for 12 hours. Zebari said, at a news conference with his Kuwaiti counterpart, that meetings of the second session of the common committee were crowned with record success and progress on various genuine and major issues concerning the two sides.

All such subjects were extensively pondered. He added that the signed Minutes

stipulated issues, linked with international obligations, in addition to various other topics that require cooperation at the political, economic and commercial levels.

Zebari indicated at an agreement for regulation of the higher commission, and another accord regarding navigation through Abdullah water passageway, according to international resolutions that organize such marine movement. He also noted that His Highness the Prime Minister of Kuwait and other Kuwaiti officials would visit Iraq, ahead of the year-end, to follow up on these issues and several memoranda.

Turning to the minutes, Zebari said it addressed double-taxation, encouraging investments, commercial and technical cooperation. On the Kuwaiti Mubarak Port, Zebari said the Kuwaiti side assured the Iraqi officials that this mega venture would not affect navigation in the region. “We have agreed on a number of protocols and cooperation in various sectors, and these protocols will be signed during the upcoming visit of the Kuwaiti prime minister to Baghdad in the last quarter of this year,” he said.

The two sides discussed the issue of the

war compensations, extensively, he said, adding that they agreed on holding the third round of the commission in Kuwait in March next year.

Elaborating, Zebari affirmed that Iraq would not pose a threat to other countries in the region. “Iraq’s power won’t be a threat to anyone, but it will be might for goodness and not evil,” he added.

For his part, the Kuwaiti foreign minister said the two sides worked diligently to hammer out the agreements. “What has been achieved constitutes crowning of the visit of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah to Baghdad and the visit of the Iraqi Prime Minister Nouri Al-Maliki to Kuwait as well as the joint desire of the two sides for establishing best possible relations for service of interests of the two brotherly peoples,” Sheikh Sabah Al-Khalid said.

On the port venture, the minister reaffirmed that Kuwait would ensure that such ventures would not harm neighboring countries. The joint commission, formed early last year, held its first meeting in Kuwait in March of 2011. Senior Kuwaiti and Iraqi officials took part in the meetings in the Iraqi capital. -KUNA

KUWAIT: The Director of the Meteorological Department in the Civil Aviation Mohammed Karam predicted on Monday that the weather instability may continue until Thursday, adding that the incoming dust storms will vary in intensity from time to time, as happened yesterday.

He added that the rapid change in weather is due to the change in atmospheric air pressure, indicating that for this reason the Meteorological Department is exerting double efforts to monitor the developments in the atmosphere. He advised sea goers not to venture out to sea and to follow the weather updates before considering doing so.

He explained that this time of year, which is the transitional period from spring to summer, is known in Kuwait and the region as the “Sarayat” season. He said that the country suffered drought, adding that the past two days saw a noticeable increase in temperature that exceeded a maximum of 40 degrees Celsius in some areas. “Sarayat usually follows days where there is a rise in temperature,” he added.

He called on citizens and residents to follow up on the Weather page on the e-Meteorological website, to be updated on the latest weather developments and warnings issued, if necessary.

Meanwhile, the General Administration of Ku-

waiti Civil Aviation said on Monday that air traffic was functioning as normal at Kuwait International Airport (KIA), despite bad weather conditions a result of the dust storm passing over the country.

Director of Operations’ Department in KIA, Essam Al-Zamel ensured Kuwait News Agency (KUNA) of the ongoing flight schedule on the runway, current visibility at the airport recorded 900 meters.

Kuwait Ports Authority announced on Monday suspending the maritime traffic in ports, because of low level of visibility to less than a nautical mile due to a wave of dust hitting the country.

Shuwaikh Port Marine Operations Director Suleiman Al-Yahya said in press remarks that traffic was put on hold after visibility fell dramatically. The decision was taken to avoid any possible accidents and came to meet the safety measures.

Entry of three ships had been delayed and they are waiting at the waiting docks, while there are no ships departing the port, he said Assistant Head of the Marine Operations Department in Shuaiba port Captain Tawfiq Al-Shahab said that there was a ship ready to depart the port, however it was delayed, while no ships are there in the waiting docks.

All ships remained inside the port before the dust wave hit the country, he added. -KUNA

Kuwait witnessed on Monday unstable weather that included dust storms and heavy rain. The instability is expected to continue until Thursday. (Al Watan)

Arab Media Form celebrates ‘Arab Media Spring’

Sheikh Jaber Al-Mubarak vows to fully support responsible media

The Panel at the Arab Media Forum is seen holding discussions on Monday, April 30, 2012. (Al Watan) Nancy Oteifa Staff Writer

KUWAIT: Under the patronage of Prime Minister Sheikh Jabber Al-Mubarak Al-Hamad Al-Sabah the 9th Arab Media Forum was inaugurated on Sunday at the Sheraton Hotel, under the title ‘The Arab Media Spring’. The opening ceremony was attended by several ambassadors, famous icons from the Arab media and elite from the Kuwaiti society.

Secretary General of the Arab Media Forum Madi Khamees said in a statement on the occasion that Tunisia was chosen as the honorary guest of the forum in line with slogan of the session, the ‘Arab Media Spring’, also noting that the Tunisian media made strides in upgrading and updating its infrastructure. Moreover, Tunisia, since launch of the Arab Spring events, has accomplished many democratic achievements that boosted freedom of expression and media profession, for service of higher objectives of the state, rather than narrow and personal interests, he said, alluding to policy of the ousted regime of Zine El-Abidine Bin Ali. During the opening ceremony of the forum the Prime Minister stressed on the importance of media support to all Arabs. He said, “Kuwait is keen to support the open media and such forums that bring people from the Arab world all under one roof.”

From his side,Al-Khamis added, “With every forum, freedom of speech in the local media tends to increase.

In Kuwait, we are enjoying freedom in the local media, where we have the right to write freely and openly in any subject. This proves that Kuwait is a modern and democratic country.”

He noted that the Arab media now is facing a critical era which is the Arab spring era adding, “This era is very important as it highlighted our lives and made the entire Arab world alert and strong. Arab people have become more useful and active after the Arab spring and they are ready to speak out about all their demands. The Arab media supported these people in their hard times and delivered their speeches to the world.”

Assistant General Secretary and Head of the Media and Communication Sector at the Arab League Mohammad Al-Khamlishi noted, “Over the past years this forum achieved real success through free speeches

and seminars.” He commented that the Arab League is keen to support any forums that strengthen and develop the role of Arab Media in the area. This forum is a bridge between politics, artist and media people from the Arab world.

Minister of Human Rights and Justice in the Transitional Government and Spokesman Samir Deelo added, “The image of the Arab media is not clear to the world yet. It is our role to improve this image to the rest of the world and to prove to them that the Arab world is strong and stands as one hand. Today we are celebrating the Tunisian revolution which was the first revolution in the Arab world. It is never too late to have a revolution and to ask for our rights and this is what Tunisia did, followed by other Arab countries like Egypt and Libya and so on.”

Meanwhile, His Highness the Prime Minister Sheikh Jaber Al-Mubarak applauded the responsible media that prioritizes the interests of its people. He added, on the sideline, that Kuwait has always been a pioneer in supporting such important media forums. He also praised the role played by Arab media in cementing awareness and lauded the role played by Minister of Information Sheikh Mohammad Al-Abdullah and the forum’s Secretary General Madi Al-Khamees in organizing this event. The opening ceremony witnessed a speech made by Al-Khamees, where he said that the Arab media is experiencing the Arab spring that has affected the Arab world. He added that the Arab spring has allowed Arab citizens to be more effective and to take part in pivotal decisions. He underlined the link between the media and means of communications.

Meanwhile, Assistant Secretary General and Head of Media and Communications Sector at the Arab League Ambassador Mohammad Al-Khamlees gave a speech on behalf of Secretary General of the Arab League Nabeel Al-Arabi, where he mentioned that the forum has managed to become a platform for dialogue and communication during the past years through the tackling of significant issues every year. He went on to say that the forum is attended by a bouquet of elite media figures, politicians, and intellectuals, which adds momentum to such a prestigious event. He highlighted the fact that the Arab League is keen to support anything that plays a role in developing Arab media.

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ALWATAN DAILY

regional Counting votes

By Hossam Fathi Staff Writer

The presidential election campaign has come to the surface of issues recently, as well as the large number of violating ads, but the relevant authorities have not endorsed a tough stance against said violations, ignoring the ads in question wherever they may be posted, whether it’s in the streets, newspapers or satellite channels. Al-Ahram newspaper published a survey recently indicating that the Major General Omar Sulaiman is ranked first amongst the presidential candidates reaping 60 percent of votes. The very same newspaper also published another survey later on indicating that the candidate Amro Musa has attained 41 percent of the expected votes and Dr. Adulmunem Abu Al-Futooh ranked second with 27.3 percent of the prospective votes according to the second survey!

Although several Islamic movements have announced their support of Abu Al-Futooh, he did not obtain more than 27.3 percent! Such great support obviously could not attract the attention of the people who prepared the survey!! My friend Ahmad Khalil Al-Dhabu - an economic researcher working in the cabinet - prepared a scientific study based on 20 criteria concerning the electing of the next president.

According to the study Abu Al-Futooh obtained 74 percent of the votes, Hamdeen Sabahi received 70.5 percent and Dr. Mohammad Mursi snagged 69 percent of votes, with Amro Musa ranked fourth with 67 percent of votes. hossam@alwatan.com.kw Twitter:@hossamfathy66

NEWS IN BRIEF UN Palestinian agency staff in Jordan strike over pay AMMAN: More than 7,000 staff of the UN Palestinian refugee agency in Jordan observed a one-day strike on Monday to demand better pay and conditions. The UN Relief and Works Agency employees, including teachers and medical staff, “demand a 140 US dollar salary raise and they do not want their annual bonus cut,” UNRWA spokesperson Anwar Abu Sakinah told AFP. “The strike also forced UNRWA’s 172 schools in Jordan to close, affecting 123,000 pupils.”

Abu Sakinah did not say if the staff plans to resume their strike if UNRWA management does not meet their demands.

“UNRWA regrets the announced decision of staff unions to stage ... action in Jordan, which will negatively impact on the services we deliver to Palestine refugees in Jordan,” the management said in a statement. -AFP

Rights groups urge UAE to end activist detentions DUBAI: Two international rights groups are urging the United Arab Emirates to end crackdowns on perceived political opponents and release those in custody. Monday’s appeal by Amnesty International and Human Rights Watch follows the detentions of two people in the past week in the northern UAE emirate of Ras al-Khaimah, including a cousin of the emirate’s ruler. The rights organizations say UAE officials are holding at least seven other activists with links to an Islamist group that has been critical of some policies of the country’s Western-allied leaders. -AP

Algerian forces kill 20 alleged militants: Report ALGIERS: Algerian security forces killed 20 members of an Al-Qaeda splinter group who were allegedly about to attack two fuel tankers, a local newspaper reported Monday. The forces were tracking a convoy apparently carrying members of the Movement for Oneness and Jihad in West Africa on Sunday near the Malian border, the newspaper reported. It said the strike came just before the militants were allegedly about to attack the fuel tankers. The newspaper, considered close to Algerian security services, cited local security forces. The raid could complicate efforts to free seven Algerian diplomats believed to be in the hands of the movement, which has fought the Algerian government for the last two decades. -AP

Libya’s Gadhafi-era oil chief found floating dead in Danube

VIENNA: Former Libyan oil minister Shukri Ghanem, whose body was found floating Sunday in the Danube river, died from drowning, Austrian police said. Autopsy results on Ghanem’s corpse showed no signs of violence, police spokesman Roman Hahslinger said Monday.The body was found in a section of the Danube that runs through Vienna close to where he had a residence. Ghanem, 69, had been chairman of Libya’s state-owned National Oil Corporation (NOC) before defecting last year several months after opponents of Muammar Gadhafi had risen up against the Libyan leader and begun a rebellion.

As NOC chairman since 2006, Ghanem helped steer Libya’s oil policy and held the high-profile job of representing Libya at OPEC meetings, often visiting Vienna for meetings in that role. “He was found dead in the Danube river at 8:40 a.m. EDT (0640 GMT).

There is no suspicion at all of foul play at this stage.

The corpse exhibited no signs of violence,” a Vienna police spokesman said.After making a final break with the Gadhafi administration last year, Ghanem first appeared in Rome, saying he had defected because of the “unbearable violence” being used by government forces to try to put down the rebellion.

He was believed to have been living in Europe in exile since then but was still closely associated with Gadhafi’s rule by Libya’s new leaders and had ruled out returning home. He insisted that Libya bore no responsibility for the 1988 bombing of Pan Am Flight 103 over Lockerbie, Scotland, which killed 270 people. Authorities suggested the death may have been an accident and that Ghanem, had complained to his daughter late Saturday that he was not feeling well. No suicide note has been found and there is no evidence Ghanem was under threat. The results of toxicological tests are expected later this week. -Agencies

tuesDAY, MAY 1, 2012

Blasts in Syria’s Idlib kill ‘more than 20’

DAMASCUS: More than 20 people were killed on Monday in blasts targeting security buildings in the city of Idlib in northwest Syria, as an explosion was also reported in the capital, a monitoring group said.

The violence a day after the arrival of the chief of a United Nations monitoring mission was sure to put further strain on a UN-backed ceasefire that went into effect on April 12 but has failed to take hold fully.

Most of those killed in Idlib were members of the security forces, the Syrian Observatory for Human Rights said. State television put the death toll at eight, among them civilians, and said scores of people were also wounded in the two blasts in Idlib’s Hananu Square, on Carlton Street.

The channel said “terrorists” were behind the attacks, a term it uses to refer to rebels seeking to overthrow the regime of President Bashar Al-Assad. It showed footage of bloodstains on the ground, and groups of angry people denouncing the violence and expressing support for Assad.

“Is this the freedom they want?” shouted one man, standing near a woman who was carrying a child with blood running down his forehead.

An apartment block appeared to be in ruins and cars nearby were flattened by the force of the explosion. A powerful blast, probably a car bomb, was also reported near Damascus, the Britain-based Observatory added. “A strong explosion shook the suburbs of Qudsiya and it appears it was a car bomb,” it said.

“Initial reports indicate there are casualties.”

Anti-regime activists have accused the government of being behind the series of explosions, while the authorities say “terrorists” are responsible.

“We confirm that these tricks no longer fool anyone, especially given the fact that the regime has resorted to these escalations every time there is political movement at the Arab, regional, or international level to find a political solution to the crisis in which the regime kills its people who are demanding freedom,” said a statement by the Local Coordination Committees, a local network of activists. Veteran peacekeeper Major General Robert Mood urged all sides to abide by the ceasefire as he arrived in Damascus on Sunday to take command of the UN military observer mission overseeing the truce.

The peace plan brokered by UN-Arab League envoy Kofi Annan calls for a commitment to stop all armed violence, a daily two-hour humanitarian ceasefire, media access to all areas affected by the fighting, an inclusive Syrian-led political process, a right to demonstrate and the release of detainees.

“To achieve the success of the Kofi Annan plan, I call on

A handout picture released by the official Syrian Arab News Agency (SANA) shows a building and vehicles that were damaged following blasts in the city of Idlib, northwest Syria, on April 30, 2012. (AFP)

all sides to stop violence and help us continue the cessation of armed violence,” Mood told reporters.

“We will work for the full implementation of the six-point Annan plan which the Syrian government agreed to.

“To achieve this, we now have 30 monitors on the ground, and in the coming days we will double this figure,” he said, adding that the number would “rapidly” increase to 300.

He stressed the monitors need the cooperation of all parties to achieve their mission: “The observers can’t solve all problems in and of themselves... All sides must stop violence and give the process a chance.”

At least 70 people, among them 47 civilians, were killed nationwide at the weekend, monitors said.

A spokesman for the advance team of observers said they had set up base in major trouble spots, including Idlib, central Homs and Deraa in the south.

With daily bloodshed adding to the death toll since the ceasefire, Red Cross chief Jakob Kellenberger said Annan’s peace plan was “in danger.”

“I place great hope in the six-point plan of Kofi Annan, which includes the UN mission tasked with monitoring the ceasefire,” Kellenberger told Swiss weekly paper Der Sonntag.

“Unfortunately, I am also very aware that the plan is in danger.” The United Nations estimates that more than 9,000 people have been killed since the revolt against Al-Assad’s regime broke out in March last year.-AFP

Egypt presidential campaign begins in earnest Baghdad talks ‘won’t CAIRO: Campaigning for Egypt’s presidential election next month officially began on Monday, with Islamists and liberal secularists expected to dominate the hustings. Official campaigning, during which candidates can display their posters in public and broadcast their messages on television, will last until May 21, 48 hours before polls open for the first round of voting, on May 23 and 24.

A second round of the election to choose a successor to former president Hosni Mubarak is expected to take place on June 16 and 17.

Egypt’s ruling military, which took charge after Mubarak was ousted in a popular uprising in February last year, has promised that the vote will be free and has pledged to hand power to the winner by the end of June.

Despite officially beginning on Monday, campaigning has actually been in full swing for weeks, with streets already

strewn with banners and candidates travelling across governorates from Upper Egypt to the Nile Delta.

The electoral committee last week announced the final list of 13 candidates for the vote, which should mark Egypt’s first fair presidential elections after three decades of autocratic rule under Mubarak.

Thursday’s announcement followed a tumultuous run-up that saw three leading candidates disqualified. Ahmed Shafiq, the premier appointed by Mubarak just before his overthrow, was allowed to stand after the committee reversed an earlier decision to exclude him.

Other candidates include front runners Amr Mussa, a former foreign minister and Arab League chief, and the powerful Muslim Brotherhood’s Mohammed Mursi, who filled in for the group’s disqualified first pick, Khairat El-Shater.

The contest is narrowing down to a choice between secularists linked to the

old guard -- such as Mussa and Shafiq -and Islamists who hope to repeat their success in parliamentary elections after Mubarak’s ouster.

Meanwhile, a former jihadist group says it will back a moderate Islamist candidate for Egypt’s president, dealing a blow to the powerful Muslim Brotherhood. Assem Abdel-Maged of the Gamaa Islamiya said on Monday that an internal poll showed that a majority in the group supported moderate Islamist Abdel-Moneim Abolfutooh. The decision boosts Abolfutooh’s chances in the Gamaa’s strongholds in southern Egypt and leaves the Muslim Brotherhood, Egypt’s largest political group, more isolated as it moves closer to a confrontation with Egypt’s ruling generals.

In a surprise decision, an influential group of ultraconservative Salafis said last week it was supporting Abolfutooh for the May 23-24 vote. -Agencies

Israel begins building wall on Lebanese border METULLA, Israel: Israel began building a wall on Monday along a 1-kilometer (0.6 mile) -stretch of its border with Lebanon, saying the barrier was necessary to boost security for an Israeli frontier town across from a Lebanese village.

An Israeli security fence already runs along the entire border but the military said defenses had to be bolstered with a 5-7 meter-(16-23 feet) high cement wall between the Israeli town of Metulla and the Lebanese village of Kila. “(The wall is) intended to prevent firing from the Lebanese side into the Israeli side. In the past year and a half there have been a number of incidents,” Colonel Amit Fisher, a senior commander on the border, told Israel Radio. A ceasefire has largely been maintained along the frontier since Israel fought a war against Lebanon’s Hezbollah guerrillas in 2006.

UN peacekeepers are stationed in the border area in southern Lebanon.

The Israeli military said the border project had been coordinated with the UN force and Lebanese Army.

Israel is also building a security fence in its south, along the border with Egypt’s Sinai desert, citing concerns over militant activity and smuggling.

An Israeli barrier also twists through

TEHRAN: May 23 talks in Baghdad between Iran and world powers focused on Tehran’s nuclear program will likely not resolve all issues, an aide to Iran’s supreme leader said on Monday.

But Gholam Ali Hadad Adel, a lawmaker who is a senior adviser to Ayatollah Ali Khamenei, insisted that the powers on the other side of the table should lift their “illogical sanctions” at the meeting, according to the Mehr news agency.

“Iran expects the P5+1 group to put an end to the illogical sanctions in Baghdad, because the inefficiency of sanctions is proven even for Western leaders,” he said, referring to the P5+1 grouping comprising the five permanent UN Security Council members plus Germany.

“They can show their goodwill through a trust-building effort by” lifting the sanctions, Hadad Adel said.

“Although one should not expect for all issues to be resolved in Baghdad, we can assume the (atmosphere) of the talks will follow in the footsteps of Istanbul,” he said.

The Baghdad talks follow on from discussions revived April 13-14 in Istanbul after a 15-month impasse. While the Istanbul meeting managed to set a positive tone for talks to continue, the Baghdad round is seen as the first substantive meeting in which contentious issues will be broached.

Ali Larijani, speaker of Iran’s parliament, said on Monday that “one should not quickly judge” the Istanbul talks, according to the ISNA news agency.

“So far, the format of the talks was a positive move. But we have to see content-wise how many correct steps will be taken,” he said.

“The current problem is not the appearance of the talks. The problem is that the West imposes sanctions behind the scenes while in public it smiles at us. And these two contradictory behaviours are not compatible. The West should take positive practical steps,” he said.

The United States, which is leading Western economic sanctions imposed on Iran, is reportedly floating a concession to allow Iran minimal enrichment of uranium - previously a no-go option - if the Islamic republic in return permits more invasive inspections of its nuclear activities. -AFP

Bahrain ‘orders retrial of hunger striker’

A picture taken from the Lebanese village of Kafr Kila shows UN soldiers carrying barriers along part of the Israeli-Lebanese border on April 30, 2012 on the opening day of the building of a several meter high wall, that will run for many kilometers along the border. (AFP)

the occupied West Bank. Israel says the project, begun during a wave of Palestinian suicide bombings inside Israeli cities,

has bolstered its security. Palestinians call it a land grab and the World Court has deemed the barrier illegal. -Reuters

Iraq VP, guards charged with killing six judges

BAGHDAD: Iraq’s fugitive Sunni Vice President Tareq Al-Hashemi and some of his bodyguards have been charged with killing six judges, ahead of a trial that is to open on Thursday, a judicial spokesman said.

Al-Hashemi, who is currently in Turkey, is not expected to attend.

“There are many crimes of which Al-Hashemi and his bodyguards are accused and confessions were obtained on them, including the assassination of six judges, mostly from Baghdad,” Higher Judicial Council spokesman Abdelsattar Bayraqdar said in a statement.

solve all issues’: Iran aide

Bayraqdar put the number of charges announced against Al-Hashemi and his bodyguards so far at about 150, adding that the figure could increase, without providing a breakdown of the charges or giving details on how many Al-Hashemi in particular faces.

He said that around 13 of Al-Hashemi’s guards had been released for lack of evidence, leaving some 73 others.

Bayraqdar said the trial against AlHashemi and a number of his guards will begin on Thursday, and would tackle the “assassination of the general director in the national security ministry, an officer

in the interior ministry and a lawyer.”

An arrest warrant was issued in December for the vice president on charges of running a death squad, amid a crisis between the Sunni-backed Iraqiya bloc to which he belongs and Shiite Prime Minister Nouri Al-Maliki.

Al-Hashemi, who says the charges are politically-motivated, fled to the autonomous Kurdistan region in northern Iraq, which declined to hand him over to the central government. It then allowed him to leave on a tour of the region that has taken him to Qatar, Saudi Arabia and now Turkey. -AFP

MANAMA: Bahrain’s highest appeals court on Monday ordered the retrial of Abdulhadi Al-Khawaja, a jailed opposition activist who has been on hunger strike since February 8, and other dissidents, their lawyer said. “The court accepted the appeal (against the verdict of a special tribunal) and ordered a trial in the court of appeal,” a civil court, Mohamed Al-Jishy told AFP after a brief hearing.

“We were hoping the verdict would be annulled but the decision will give us an opportunity to defend our clients,” Al-Jishy said, adding that no date was yet set for the new trial. Al-Khawaja was jailed with 14 other mostly Shiite activists after being convicted in June last year of plotting to overthrow the Gulf kingdom’s Sunni rulers.

Seven of them, including Al-Khawaja, were jailed for life while 14 others were sentenced to between two and 15 years in prison. Of the 21 defendants, seven were convicted in absentia and remain at large.

“I think he will not stop this strike as this verdict brought no big change” to his situation, said another lawyer Mohammed Al-Tajer.

A statement carried by state news agency BNA confirmed that the defendants will be tried again in a civil court and said the new trial could see their sentences reduced. The defendants will remain in prison until the next court ruling.

Al-Khawaja, who has become a symbol of the opposition movement, was arrested last April. Bahrain has repeatedly come under pressure from rights groups as well as Western governments to release the 52-year-old father of four, who has dual Danish and Bahraini nationality.

But the kingdom has rejected those calls as interference in its internal affairs.

Denmark has requested to take him in, but Bahrain has refused to let him go, with the authorities repeatedly saying the activist is in good health. -AFP

ALWATAN DAILY

WORLD

tuesdAY, may 1, 2012

Japan PM in US to turn page for alliance The Obama administration will instead focus largely on symbolic gestures to show warmth toward Japan

WASHINGTON: The leaders of Japan and the United States meet Monday to look at new ways to cooperate in defense, hoping to show that the alliance is back on track after a rocky few years.

Amid fears that North Korea will test another nuclear bomb, Japan’s Prime Minister Yoshihiko Noda will hold talks at the White House with President Barack Obama days after a deal on a thorny dispute over US troops.

Noda is the first Japanese premier to visit Washington for a solely bilateral visit since the 2009 election of his center-left Democratic Party of Japan sent long-stable relations into a tailspin.

“I would like to exchange views candidly on the vision of a future US-Japan alliance. I want the meeting to be fruitful so that the public can see clear results,” Noda told reporters on departure from Tokyo.

The allies announced on Friday an agreement to move 9,000 Marines from Japanese island of Okinawa to the US territory of Guam, addressing a persistent source of friction. Tiny Okinawa is host to half of the 47,000 US troops in Japan.

As part of the agreement, the two countries said they would consider setting up their first permanent joint training bases in Guam or the nearby Northern Mariana Islands. The move would carry heavy symbolism for Japan, which has been officially pacifist since the end of World War II. “This kind of effort will lead to further

Japan’s Prime Minister Yoshihiko Noda (left) will hold talks at the White House with President Barack Obama days after a deal on a thorny dispute over US troops. (AFP)

enhancement of interoperability through the broadening of bilateral dynamic defense cooperation,” Japan’s leader told the Wall Street Journal.

Kurt Campbell, the US assistant secretary of state for East Asia, called the training proposal “a very important step that has never been achieved before.”

But the agreement preserves a key controversial element of a 2006 plan between the two countries - building an air base on a quiet seashore. The two sides had hoped the 2006 arrangement would end concerns by moving the base out of a crowded urban area, but some activists pressed for its complete removal.

Weston Konishi, director of Asia-Pacific studies at the Institute for Foreign Policy Analysis, said the deal was “a good face-saver for both sides” but went little beyond previous statements.

The latest accord showed that the United was flexible and “willing to make a good-faith effort,” while for Noda, it showed that he was “serious about trying to do his best to reduce the footprint” of US troops in Okinawa, he said.

“It’s a win-win for both governments, but whether this leads to a final resolution of the problem, I think, is still debatable,” Konishi said.

NEWS IN BRIEF

Obama had made an early effort to reach out to Japan, inviting then-prime minister Taro Aso as his first White House guest in hopes of dispelling concern that the new administration would ignore Asian allies as it focused on managing the complicated relationship with a rising China.

But Yukio Hatoyama, the first prime minister after the Democratic Party of Japan ousted the long-ruling conservatives, dismayed the United States by flirting with China and insisting on renegotiating the Okinawa deal.

Hatoyama’s successor, Naoto Kan, faced wide criticism for his handling of the massive March 11, 2011 earthquake and tsunami tragedy in which US troops mounted a round-theclock rescue effort.

The Obama administration initially found hope in Noda but his government’s approval rating has also fallen precipitously as he pushes forward a proposal to double sales tax to tame a massive public debt.

Noda heartened the Obama administration after taking office last year when he voiced interest in the Trans-Pacific Partnership - an emerging US-led free trade deal across the Pacific Rim. But Noda has faced heated opposition, with farmers leading a major protest campaign out of fear that the trade agreement would jeopardize their livelihoods.

A senior US official, speaking on condition of anonymity, conceded that the United States no longer expected Noda to announce during his visit a formal entry into talks with the nine nations negotiating the deal.

The Obama administration will instead focus largely on symbolic gestures to show warmth toward Japan. Secretary of State Hillary Clinton will welcome Noda to a gala dinner and a private viewing of an exhibition on samurai. -AFP

British PM UN chief meets Myanmar ‘deeply saddened’ by murder of aid worker reformist president LONDON: British Prime Minister David Cameron paid tribute to the kidnapped British Red Cross worker found dead in Pakistan, calling his murder a “shocking and merciless act”. Cameron said he “was deeply saddened” to hear about the death of Khalil Dale, and accused the attackers of having “no respect for human life and the rule of law.”

“This was a shocking and merciless act,” added the leader. “Khalil Dale has dedicated many years of his life to helping some of the most vulnerable people in the world and my thoughts today are with his friends and family,” he said in a statement.

London had tried tirelessly to secure the release of the 60-year-old since his kidnapping in Baluchistan province in January, British Foreign Secretary William Hague said in an earlier statement.

“This was a senseless and cruel act, targeting someone whose role was to help the people of Pakistan, and causing immeasurable pain to those who knew Dale,” said Hague. The Red Cross announced earlier Sunday that Dale, a health program manager, had been found dead in Quetta, Pakistan, four months after he was abducted by armed men.

The mutilated body of Khalil Dale, 60, was dumped in a bag in an orchard on the outskirts of Quetta, the capital of the insurgency-hit southwestern province of Baluchistan.

A note claiming to be from militant group Tehreek-e-Taliban Pakistan was found with the body, se-

nior local police official Tariq Manzoor told AFP. The group said in the note that “our demands were not met (and) we have stuffed his (Dale’s) body in a bag after slaughtering him.We will soon release a video of his beheading,” according to Manzoor.

Dale, a British Muslim who had been managing a health program in Quetta for almost a year, was abducted in the city on Jan. 5 by eight masked gunmen, who forced him from his car at gunpoint as he returned home from work.

A source close to the case said the captors had demanded a ransom of 30 million US dollars. The International Committee of the Red Cross “condemns in the strongest possible terms this barbaric act”, said its Director-General Yves Daccord. “All of us at the ICRC and at the British Red Cross share the grief and outrage of Khalil’s family and friends.”

“We are devastated,” Daccord said, adding that the aid worker - who had worked in Somalia, Afghanistan and Iraq - was a “trusted and very experienced Red Cross staff member”. Pakistan’s government also condemned “the barbaric act” and vowed “to bring perpetrators of this heinous crime to justice”.

Riffat Hussain, a police surgeon at Bolan Medical College in Quetta, where the aid worker’s body was taken, told AFP that Dale had been decapitated, but doctors had stitched his head back on to his body. He is believed to have been killed some 12-14 hours before his body was discovered, the surgeon said. -AFP

Blast hits police convoy in eastern Nigeria, kills seven-witness MAIDUGURI: A bomb blast struck a police commissioner’s convoy in the eastern Nigerian town of Jalingo on Monday, killing seven people and wounding 20, a witness and officials said, a day after two deadly attacks in other parts of the country.

No group immediately claimed responsibility but Islamist sect Boko Haram, which wants to carve an Islamic state out of Nigeria, has been blamed for many such previous attacks.

Jalingo is the capital of usually peaceful Taraba state, which borders Cameroon and has so far been spared the insurgency plaguing Nigeria’s north. “I saw the blast happen.

It was apparently targeted at the commissioner of police who was passing the vicinity,” Ben Adaji, editor of a local magazine, told Reuters by telephone.

“The motorcycle outrider on the commissioner’s convoy is among the seven people I saw dead.”

The local head of the National Emergency Management Agency (NEMA) said 20 people had been taken to hospital. The blast happened between the state ministry of

Explosion hits Nigeria’s eastern Taraba state MAIDUGURI: An explosion on Monday struck Jalingo, the capital of Nigeria’s usually peaceful eastern Taraba state, a witness said. A witness told Reuters by telephone the explosion was close to a government building and could have been targeting the police commissioner who drove past shortly before the blast.

On Sunday, at least 19 people were killed in two attacks on Christian worshippers.

A university theatre used for services in the northern city of Kano and a church in northeast Maiduguri, Boko Haram’s home town, were attacked by gunmen. -Reuters

Bomb in eastern Afghanistan kills two children KABUL: Afghan officials say a buried bomb has killed two children in the east of the country.The Paktika provincial governor’s office said in a statement Monday that the children triggered the explosion while playing outside Sunday in Surobi district. The statement says the two dead children were about 12 years old, without giving their gender. Another child was seriously wounded. Last year was the deadliest on record for civilians in the Afghan war, with 3,021 killed, according to UN figures. Taliban-affiliated militants were responsible for the vast majority of those deaths. -AP

Nepal bomb blast kills four KATHMANDU: Four people were killed and more than 20 wounded when a bomb attached to a motorbike went off near a crowd of protesters in southern Nepal on Monday, police said. The group of 150 demonstrators had been staging a sit-in when the bike exploded in the religious hub of Janakpur, 20 kilometers (12 miles) from the Indian border, said local police chief Basanta Raj Gautam. “One of the protesters died on the spot while three died on their way to hospital. We have referred around seven seriously injured victims for treatment to Kathmandu,” he told AFP. -AFP

Opposition leaders charged with Dhaka blasts DHAKA: Bangladesh police charged 28 opposition officials on Monday including senior leaders over a series of bomb explosions at the weekend, as a nationwide strike again paralyzed the country. Police said they had raided the house of the second-highest leader of the opposition early Monday, secretary general Mirza Fakhrul Alamgir, and charged other senior Bangladesh Nationalist Party (BNP) officials.

“Police raided Mirza Fakhrul’s house early Monday to arrest him. But he was not found,” deputy commissioner of Dhaka police Nisharul Arif told AFP. -AFP

Sri Lanka Muslims call for protection Myanmar President Thein Sein (right) holds a meeting with United Nations Secretary General Ban Ki-moon at the president’s residence in Naypyidaw on April 30. (AFP)

NAYPYIDAW: UN chief Ban Ki-moon held landmark talks with Myanmar’s president on Monday in a high-profile show of support for changes sweeping through the former pariah state.

During his three-day visit, Ban is expected to urge further steps towards democracy and appeal for unfettered humanitarian access to tens of thousands of refugees who have fled ethnic conflict.

“I would like to extend a warm welcome from the people of Myanmar,” said President Thein Sein as the pair met at his official residence in the capital Naypyidaw, according to an AFP journalist.

Ban is also due to meet opposition leader Aung San Suu Kyi on what is his first trip to the country formerly called Burma since decades of military rule ended last year. -AFP

COLOMBO: Sri Lanka’s main Muslim party called on the government on Monday to protect religious minorities after protests by Buddhist monks demanding that a 60-year-old mosque be relocated.

The Sri Lanka Muslim Congress (SLMC), which is a member of the ruling coalition, said it opposed shifting the mosque in Dambulla, 150 kilometers (93 miles) north of Colombo, saying this would be “disastrous” for the country. The monks argued that the mosque was inside temple land and should be demolished while the Muslims maintain that they have been offering prayers there since the mid 1940s. -AFP

French candidates battle scandal as polling day looms

Pakistani security officials stand next to covered body of British Red Cross worker Khalil Rasjed Dale at the site in Quetta, Pakistan on April 29. (AP)

finance and police headquarters, Ibrahim Farinloye said.

In the past year, Boko Haram has tried to extend its reach beyond its northeastern heartland. The Jalingo strike followed two attacks on Christian worshippers on Sunday that killed at least 19 people in other parts of the country.

Gunmen attacked a university theatre used for services in the northern city of Kano and a church in northeast Maiduguri, Boko Haram’s hometown.

The sect’s attacks usually target police and government in the mostly Muslim north but it also frequently strikes Christian targets in the capital Abuja.

Jonathan has been criticized for failing to get a grip on the violence, which has gained momentum since his presidential election victory a year ago.

He has relied mostly on a heavy-handed military approach to dealing with the violence and an attempt at mediated dialogue with the sect broke off last month.

Suicide car bombers targeted the offices of Nigerian newspaper This Day in Abuja and in Kaduna last week, killing at least four people in coordinated strikes. -Reuters

5

PARIS: French presidential frontrunner Francois Hollande headed into the last round of his battle with Nicolas Sarkozy, with both candidates threatened by the shadow of scandal.

Socialist challenger Hollande is the favorite to win next week’s vote, but his campaign was shaken over the weekend by a new episode in the saga of his party’s ties to disgraced former IMF chief Dominique Strauss-Kahn.

On Saturday, Socialist lawmaker Julien Dray invited Hollande’s campaign director Pierre Moscovici, communications director Manuel Valls and former partner Segolene Royal to a drinks party to celebrate his birthday.

But he did not warn them he had also invited Strauss-Kahn to attend the bash, held at a popular disco bar on the notorious Rue St Denis in Paris, a street which has historically been associated with prostitution.

Royal was furious when she learned that Strauss-Kahn was on the guest list, and stormed off without meeting him, but the news embarrassed the campaign and forced Hollande to publicly stress StraussKahn’s pariah status.

“He no longer has a role in political life and thus should not be part of a campaign nor in any images that could potentially lead people to believe he’s coming back,” Hollande said, in a television interview.

Strauss-Kahn was once expected to be the Socialist candidate but became a toxic figure last year when he was accused of

sexual assault in New York and is now under investigation in France over alleged ties to a vice ring.

Royal, who was the defeated Socialist candidate in the 2007 race and has had four children with Hollande, expressed anger over the invitation.

“It’s lucky that I didn’t find myself faceto-face with him!” she said. “I left because it is out of the question for me to meet Dominique Strauss-Kahn, if only out of concern for the rights and respect due to women.”

Valls, a party modernizer who has been tipped to become a senior minister in any Hollande-led government, refused to comment on the event and insisted it had no relevance to the campaign nor to voters’ interests.

But Sarkozy’s camp - which is wooing the 6.4 million voters who backed the far-right’s Marine Le Pen in the first round vote last week - lost no time in seizing on the incident to increase the left’s embarrassment.

Sarkozy spokeswoman Nathalie Kosciusko-Morizet joked about the Rue St Denis address, with its touché associations, adding: “You couldn’t make it up.”

The new mini-scandal erupted as an opinion poll by the LH2 institute forecast that Hollande would win the May 6 run-off by 54 percent of the vote to Sarkozy’s 46, a smaller gap than in LH2’s last estimate.

Another survey, carried out by Ipsos for France Television, Radio France and Le Monde, predicted Hollande would win

with 53 percent, down one point from the previous survey, against 47 percent for Sarkozy, up one point.

The right-wing president meanwhile faced controversy of his own.

On Saturday, investigative news website Mediapart published what it said was a copy of an internal Libyan regime document recording an alleged 2006 illegal funding deal between Tripoli and Sarkozy’s 2007 campaign.

According to the note, which Mediapart claims to have obtained from former regime figures ousted last year in the revolt against Gaddafi’s rule, Tripoli agreed to pay Sarkozy’s 2007 campaign 50 million euros (66 million US dollars).

“It’s despicable. It’s a forgery. Mediapart is well used to dishonesty. It’s an agency in the service of the left,” Sarkozy declared in an interview with Canal+ television, angrily dismissing the claim.

And the man to whom the memo was supposedly addressed - Bashir Saleh, Moamer Gaddafi’s former chief of staff and head of Libya’s 40 billion dollar sovereign wealth fund - denied ever receiving such a communication.

Saleh now lives in France, and his lawyer Pierre Haik sent AFP a statement expressing “grave reservations” over the authenticity of the note.

Speaking to AFP from his exile in Doha, the capital of Qatar, Libya’s former foreign intelligence chief Moussa Koussa branded the note a fake. “All these allegations are false,” he said. -AFP

6

ALWATAN DAILY

OPINION

tuesDAY, may 1, 2012

Pontification faces serious amalgamation of violations Nabeel Al-Fadhl

M

P Falah Al-Sawwagh stated on Sunday through news message text services that “The majority MPs are giving the government two weeks to remove the Minister.”

To start with, the claim that the expressed opinion in this message reflects the opinions of the majority of the MPs is quite true. Also, it does reflect the opinion of MP Falah Al-Sawwagh but furthermore it reflects something more important than that and that is the utter arrogance and sheer conceit which some MPs have demonstrated.

The only terms we can describe such behavior as such, is dictation and threats in an implicit way. They are pushing the government to accept their demand and see the end of Minister Mustafa Al-Shamali. All these dictations are being made along with a specific time period for their expectations to be met.

It is not that the threat is alright or tolerable. It is the fact that the demand is against the Constitution. And yet the MPs are not paying attention to this violation as if it is not their business or part of their duties to have the Constitution at the top of their consideration at all times.

If we look at Article 50 in the Kuwaiti Constitution, for instance, we will find that it clearly states that the two authorities must be separated and that each authority the legislative and the executive are independent. While it does state that there should be cooperation between the two authorities but such cooperation should not be seen as overlapping in duties and function because both are indepen-

It is not that the threat is alright or tolerable. It is the fact that the demand is against the Constitution.

dent. To put it simply, if we are to break the barrier between the two authorities and where each begin to interfere with the other, then the democratic system in the country would end sooner than expected.

The Constitution has made all parliamentary interpellation available for all to use and employ when needed and required. It also grants the MPs the right to bring forward a no-confidence motion against a minister if their performance is not up to standard. Even a no-cooperation motion against the prime minister is possible which can be determined by the number of MPs endorsing such a motion.

The MPs, it would be remembered, had sworn in to respect the Constitution and to respect its articles. So, to violate such a protocol the MPs would then not pay attention to it and the constitution is deemed of no value.

If we are to agree with those MPs and say you are violating the Constitution on grounds that one minister is not qualified for his job, then one wonders if those MPs are willing to relinquish their Constitutional rights.

The majority MPs truly believe that they have become unstoppable. Each one of them is keen to make announcements now and then and it doesn’t matter if their statements make sense or logic. Take for example the MP Faisal Al-Mislem, the head of the Muslim Brotherhood, who said

that true reforms must be implemented and the idea that the Constitution should be amended is part of the recent development adding at the same time he would like to amend the article in the Constitution which deals with the number of MPs and that he would like to see 75 MPs in the stead. He then added that a no-confidence motion against the government should be made too.

There are many issues here which need to be addressed but, most of all, the figure 75.There are many figures one can think of such as 80 or 85. Also, the issue of no-confidence against the prime minister will only lead to the downfall of the prime minister but not the government.

Similarly, MP Dr. Waleed Al-Tabatabaei has been violating the laws, by laws and every rule and regulation he can think of. We have explained this in a press conference and outlined such violations.We even challenged him to support his decision to appoint his wife in the Public Authority for Housing Welfare and then as a secretary in his office at the National Assembly.

This is a clear and unquestionable violation on the part of the MP. It is remarkable that they can violate the laws and yet when one attempts to do similar infringements, the book is thrown at them.

The issue here is not that the MP employed a relative of

Saudi and Bahraini confederacy typifies true unification Fuad Al-Hashem

T

here is no need for special think tank, intelligence apparatus, or a center for strategic studies to diagnose what had really taken place behind the attack on the Saudi Embassy in Cairo.

It is alleged that an unknown group had broken and entered the Saudi embassy in Cairo. But the fact of the matter is that the identity of the perpetrators is not a secret because we know they are members of the Muslim Brotherhood who are in the habit of acting in such manner to reach their goals. The tactics behind the attack is to kill three birds in one stone.

The first bird is the Egyptian Prime Minister Kamal Al-Janzaouri whom the Muslim Brotherhood are keen to get rid of because he is a hindrance on their way to achieve certain goals and objectives one of which to maintain complete hegemony over Egypt.

The second bird is of course the Egyptian Military Council. The Muslims Brotherhood has long suspected the Council and regards it as an extension of the former regime of Hosni Mubarak.

The Brotherhood is keen to see the Council with as less influence as it can get.

They are working on marginalizing them whenever possible and at every possible opportunity.

The third bird are the Saudis because the Saudi satellite channel Al-Arabiya which is based in the capital Riyadh has broadcasted that the Qatari Foreign Minister Sheikh Hamad Bin Jassem has been removed from his post.

One of the Muslim Brotherhood’s official spokesmen Yousef Al-Qardhawi has given his signals to the anarchists to attack the Embassy as a retaliation on their part.

There is actually a fourth bird involved here but unlike the rest of the birds, this particular one is considered to be a hidden agenda.

The Muslim Brotherhood is keen to send a strong but tactful message to the states and members of the Gulf Cooperation Council (GCC) that your time has come.

The Muslim Brotherhood wants to send a strong message to the GCC with a particular reference to the United Arab Emirates that the Muslim Brotherhood is able to dominate local politics and that it must be feared and any tactics against the Brotherhood such as the country’s decision to ban Sheikh Yousef Al-Qardhawi from entering the United Arab Emirates would be met with similar reprimand.

It is therefore not strange to see parliamentary members of the Muslim Brotherhood calling for the suspension of the session yesterday on grounds that the Egyptian Prime Minister Kamal AlJanzaouri has not been removed from his post yet.

One more local news and this time it is related to the MP Mohammad Al-Juwaihel who had earlier announced that thousands of Kuwaitis are dual nationals and that many have the United States passport.

The MP’s source is the US ambassador

One more local news and this time it is related to the MP Mohammad Al-Juwaihel who had earlier announced that thousands of Kuwaitis are dual nationals and that many have the United States passport. to Kuwait. Readers will remember that a similar announcement was made here some one year ago.

The people who have different nationalities include members of the ruling family and it is no secret that they had even voted in the last presidential elections.

Other Kuwaitis also have British, Canadian and other European nationalities.

Let us now move to some local news where the General Secretary of the Kuwaiti Anti-Smoking and Cancer Society said that Kuwait alone has somewhere between 1300 and 1500 cases of cancer patients each year.

While this is certainly not good news at all, I would like to add that after the controversial incident of the tire blaze, the society found a serious increase in the number of cancer patients with the possibility of doubling such figures being doubled.

This is not because of some environmental reasons here but because of some people who their quest for more money and urges to amass more and more money has never stopped and will never simply because they seek to fatten their bank accounts.

Some more local news and which is related to the MP Abdulhamid Dashti who announced that leading newspapers such as Al Watan and Al-Siyasa are corrupt and that they are run and managed by corrupt people.

Remarkably, the MP then went on to say that the Qatari Prime Minister Hamad Bin Jassem should be crowned on the heads of all Kuwaitis. One wonders what the connection between his previous statements and the latter one is.

As for the two kingdoms of Saudi Arabia and Bahrain, there will soon be an announcement regarding the two countries entering a confederacy. The announcement is expected to be made next May. The kind of union here is very promising because the two countries will respect each other’s statehood while maintaining strong ties and bonds.

The idea is perfect because it will show other countries that unification is possible and beneficial at the same time. We certainly hope that the rest of the GCC will follow suit.

Meanwhile, we would like to express our greatest gratitude to the mullahs in Iran for making such defensive and deterrent measures possible among the GCC states.

This article would not be complete without referring to some Syrian news.

The Syrian intelligence has been trying its best to influence the international moni-

tors’ attitude and perception. One of the latest tactics by the Syrian regime is to send well-trained but very attractive women to associate with the monitors.

At one point, the Syrian girls were even knocking at the doors of the rooms where the monitors are staying in the Sheraton Hotel and unashamedly offering their sexual services.

The attempt has thus far been unfruitful to the utter annoyance of the mastermind of the whole operation and the man behind the feminine approach who happens to be the nephew of the Syrian President Rami Makhlouf.

The man is now shifting to another approach and this time financial incentives are being seriously considered.

It would be remembered at this stage that the Arab monitors who had visited Syria in the past representing the Arab League had similar attractive offers.

While admittedly some had acquiesced to the offers some hadn’t.

One particular Algerian felt outraged and humiliated when the offers were made declaring the very next day that he decided to quit the delegation because they became corrupt and their free and unbiased judgment was no more influenced by the various offers made by the Syrian regime to influence their judgment. This underscores that the Syrian regime has not only mastered the art of killing women and children but they are now officially “son of a gun”.

A shipment was heading to the Syrian revolutionaries to sustain their combat against the Syrian regime was intercepted by the Lebanese group Hezbollah. Once again, the Lebanese group proves to be a strong and indisputable ally for the Syrian regime.

As for the Iraqi news we have here some interesting news from the Iraqi Prime Minister Nouri Al-Maliki who had asked Kuwait to mediate with the rest of the Arab countries to maintain a good and fresh relationship. Perhaps the prime minister is not fully aware that the time is not ripe yet and that such demand needs time to heel many wounds.

Now let us move to some flash news and this time it is related the Iranian affairs where the country has announced recently that it is reducing its oil production at a greater rate.

It would seem to be that the international sanction has significantly hurt Iran with a great measure of impact. For that reason, it was decided by the Iranian government at reducing its oil production by almost 400, 000 barrels.

his only but the fact that he also made the entire public authority as if his own. One single example will illustrate the nature of the series of violations committed by the MP. After having his wife employed in the Public Authority for Housing Affairs, the eldest son of the MP Waleed AlTabatabaei was also employed within three months. Now there are two issues at stake here.

Not only did the MP employ his son but also immediately after he resigned from his previous job in the Audit Bureau when the rules clearly state that a full year should elapse prior to any appointment in another ministry in case of resignation.

This is not the end of the story because the son decided to push his luck and asked for a scholarship from the Authority despite the fact that his appointment is only three months old. Another snag here which faces the MP Waleed Al-Tabatabaei but miraculously managed to overcome it brilliantly is that the scholarships had long stopped by the Authority back in 2005. But the MP’s son managed to get it regardless.

The MP’s son is now enjoying his free time at the expense of the Public Authority somewhere in San Diego, California while many others are only dreaming to get such a scholarship. Obviously, we have serious discrepancy in the way we define equality and justice.

If I were the MP, and I would never put myself in his shoes, I would submit my resignation immediately not because of one violation he has committed but also because of a series of very serious violations he has been committing and continues to commit.

BU QUTADA & BU NABIL Dad, what does reformative MP mean?

Yes, a fiction character that I like!

He is also a fiction character, and I like him!

A fiction character that I like!

mmm.. I will tell you.

Do you know Superman?

What do you think of Spiderman?

What about Batman?

Even the reformative MP is a fiction character, and MPs want to be like him.

mthallab@alwatan.com.kw

Mohmmed Thallab

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tuesDAY, MAY 1, 2012

America’s Renminbi fixation Stephen S. Roach Project Syndicate

F

or seven years, the United States has allowed its fixation on the renminbi’s exchange rate to deflect attention from far more important issues in its economic relationship with China. The upcoming Strategic and Economic Dialogue between the US and China is an excellent opportunity to examine - and rethink - America’s priorities.

Since 2005, the US Congress has repeatedly flirted with legislation aimed at defending hard-pressed American workers from the presumed threat of a cheap Chinese currency.

Bipartisan support for such a measure surfaced when Senators Charles Schumer (a liberal Democrat from New York) and Lindsey Graham (a conservative Republican from South Carolina) introduced the first Chinese currency bill.

The argument for legislative action is tantalizingly simple: the US merchandise trade deficit has averaged a record 4.4 percent of GDP since 2005, with China accounting for fully 35 percent of the shortfall, supposedly owing to its currency manipulation. The Chinese, insists a broad coalition of politicians, business leaders, and academic economists, must revalue or face sanctions.

This reasoning resonates with the US public. Opinion polls conducted in 2011 found that

fully 61 percent of Americans believes that China represents a serious economic threat.

As such, the currency debate looms as a major issue in the upcoming US presidential campaign. “Enough is enough,” President Barack Obama replied, when queried on the renminbi in the aftermath of his last meeting with Chinese President Hu Jintao. Obama’s presumptive Republican challenger, Mitt Romney, has promised to declare China guilty of currency manipulation the day he takes office.

But, however appealing this logic may be, it is wrong. First, America’s trade deficit is multilateral: the US ran deficits with 88 nations in 2010. A multilateral imbalance - especially one that it is traceable to a saving shortfall - cannot be fixed by putting pressure on a bilateral exchange rate.

Indeed,America’s major threat is from within. Blaming China merely impedes the heavy lifting that must be done at home - namely, boosting saving by cutting budget deficits and encouraging households to save income rather than rely on asset bubbles.

Second, the renminbi has now appreciated 31.4 percent against the dollar since mid-2005, well in excess of the 27.5 percent increase called for by the original SchumerGraham bill. Mindful of the lessons of Japan - especially its disastrous concession on sharp yen appreciation in the Plaza Accord of 1985 the Chinese have opted, instead, for a gradual revaluation. Recent moves toward renminbi internationalization, a more open capital account, and wider currency trading bands leave little doubt that the endgame is a market-

Globalized production platforms distort bilateral trade data between the US and China, and have little to do with the exchange rate. based, fully convertible renminbi.

Third, there has been significant improvement in China’s external imbalance. The International Monetary Fund estimates that China’s current-account surplus will narrow to just 2.3 percent of GDP in 2012, after peaking at 10.1 percent in 2007. American officials have long bemoaned China’s saving glut as a major source of global instability. But they should look in the mirror: America’s current-account deficit this year, at an estimated 510 billion US dollars, is likely to be 2.8 times higher than China’s surplus.

Finally, China has evolved from the world’s factory to its assembly line. Research shows that no more than 20 percent to 30 percent of Chinese exports to the US reflect value added inside China. Roughly 60 percent of Chinese exports represent shipments of “foreign invested enterprises” - in effect, Chinese subsidiaries of global multinationals. Think Apple.

Globalized production platforms distort bilateral trade data between the US and China, and have little to do with the exchange rate.

Rather than vilifying China as the principal economic threat to America, the relationship should be recast as an opportunity. The largest component of US aggregate demand - the

China and US should avoid human rights fight

consumer - is on ice. With households focused on repairing severely damaged balance sheets, inflation-adjusted private consumption has expanded at an anemic 0.5 percent average annual rate over the past four years. Consumer deleveraging is likely to persist for years to come, leaving the US increasingly desperate for new sources of growth.

Exports top the list of possibilities. China is now America’s third largest and most rapidly growing export market. There can be no mistaking its potential to fill some of the void left

by US consumers.

The key to realizing that opportunity lies in access to Chinese markets - all the more significant in light of China’s upcoming proconsumption rebalancing. Historically, China has had an open development model, with imports running at 28 percent of GDP since 2002 - nearly three times Japan’s 10 percent import ratio during its high-growth era (1960-1989).

As a result, for a given increment of domestic demand, China is far more predisposed toward foreign sourcing.

As the Chinese consumer emerges, demand for a wide variety of US-made goods - ranging from new-generation information technology and biotech to automotive components and

Henning Rodhe

P

John Foley Reuters

A

n escaped Chinese dissident takes refuge in the US embassy. It’s a diplomatic crisis, but needn’t become an economic one. Washington values rights, but it also needs a stable and cooperative China.

As for Beijing, it has a chance to improve its image.

Blind lawyer Chen Guangcheng’s escape from house arrest came just days before the US and China’s annual economic summit in Beijing. In a year of political transition for both sides, things could escalate.

China hates foreign meddling; the United States has accepted high profile defectors before. Though Secretary of State Hillary Clinton favors “principled pragmatism”, she is an outspoken critic of China’s human rights record and of Chen’s plight.

But a deep freeze between the world’s two biggest economies would be bad for the world. Besides, there is a deep economic co-dependency. While China’s overall trade surplus has been shrinking, the trade gap with Uncle Sam has actually widened. It hit a record 299 billion US dollars in the 12 months to February 2012.

A face-saving solution is certainly possible. If Bei-

jing gives Chen some guarantees that he and his family will be left alone, he could return to his Shandong village. There are precedents: Lai Changxing, a ringleader in a notorious corruption ring, was extradited from Canada on the promise that he wouldn’t be put to death. Beijing could even blame Chen’s captivity on wayward local officials, and burnish its own credentials for upholding the rule of law.

The Chinese approach to human rights will remain a political challenge. More asylum-seekers in the United States come from China than from any other country, and the number of petitioners has been growing at a double digit-rate. By Western standards, Beijing still lags in the protection of its citizens.

Still, Western governments can’t easily back off from the bet they made a decade ago, when China was admitted to the World Trade Organization - the step that kicked off its latest prodigious phase of growth.

They decided then that China would become less repressive as it got richer. Chen’s case may show whether that judgment was the right one.

The author is a Reuters columnist. The opinions expressed are his own.

Samsung moves on from Japan to nibble at Apple Wayne Arnold Reuters

T

he Japanese may have pioneered the model of a vertically integrated electronics manufacturer, but Samsung looks to have perfected it.

The Korean company started by pulling apart Japanese TV sets, then reverse-engineered the manufacturers’ business model. By avoiding their missteps, it’s driving them out of TVs and carving up the smartphone market with Apple. Now, as more business is coming from emerging markets, Apple needs to watch out for Samsung’s still-growing appetite.

Samsung, which made its name in televisions, is more of a smartphone company. Phones account for most of its sales, and earnings growth. It sells more of its Galaxy product than Apple does iPhones. Yet Samsung is still turning a profit on everything it makes. It has a larger share of the global TV market than Panasonic, Sharp and Sony combined, and is making money. It even makes money on LCD panels and memory chips.

Japanese companies say they are hurt by the rising yen, which erodes earnings abroad. Korea’s won has fallen 29 percent against the Japanese currency in the past decade. On average, though, the won has dropped only about 1.7 percent a year.

The cheap won was probably most helpful to Samsung in the 1980s, when the price advantage gave it breathing space to make up ground on quality.

Samsung did learn from its neighbors’ mistakes, though. Japanese firms made their own parts, and avoided trading with rivals. Samsung is a major supplier of chips and screens to competitors like

aircraft - could surge. The same is true of services. At just 43 percent of GDP, China’s services sector is relatively tiny. There is enormous scope for America’s global services companies to expand in China, especially in transactionsintensive distribution sectors - wholesale and retail trade, domestic transportation, and supply-chain logistics - as well as in the processing segments of finance, health care, and data warehousing.

The US needs to refocus the US-China trade agenda toward expanded market access in these and other areas - pushing back against Chinese policies and government procurement practices that favor domestic production and indigenous innovation. Some progress has been made, but more is needed - for example, getting China to join the World Trade Organization’s Government Procurement Agreement.

At the same time, the US should reconsider antiquated Cold War restrictions on Chinese purchases of technology-intensive items.

For a growth-starved US, the opportunities of market access far outweigh the currency threat. The long-dormant Chinese consumer is about to be unleashed. This plays to one of America’s greatest strengths - its zeal to compete in new markets. Shame on the US if it squanders this extraordinary chance by digging in its heels at the upcoming Strategic and Economic dialogue.

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

The particle-emissions dilemma Project Syndicate

An overview of the US embassy is pictured in Beijing April 29, 2012.

(Reuters)

7

article emissions into Earth’s atmosphere affect both human health and the climate. So we should limit them, right? For health reasons, yes, we should indeed do that; but, paradoxically, limiting such emissions would cause global warming to increase. Why? The combustion of fossil fuels, wood, and other biomass increases the amount of airborne particles, which, in a somewhat simplified manner, we can describe as “white” or “black.” Both types can be found in varying amounts in all emissions. Most black particles stem from small-scale and inefficient burning of bio-fuels, and, in Asia and Africa, from the burning of agricultural waste. By contrast, white particles consist largely of sulfur from the burning of coal and oil.

Because black particles contain soot and absorb sunlight, they are believed to increase global warming. White particles, however, reflect some of the incoming sunlight back into space, producing a cooling effect on Earth’s climate.

Indeed, according to the United Nations’ Intergovernmental Panel on Climate Change, the cooling effect of white particles may counteract as much as about half of the warming effect of carbon dioxide. So, if all white particles were removed from the atmosphere, global warming would increase considerably.

The dilemma is that all particles, whether white or black, constitute a serious problem for human health. Every year, an estimated two million people worldwide die prematurely, owing to the effects of breathing polluted air.

Furthermore, sulfur-rich white particles contribute to the acidification of soil and water.

Lowering the level of black particles in the atmosphere would benefit both human health and the climate. Measures aimed at accomplishing this could be particularly effective in countries where emission standards for diesel-fueled vehicles have not yet been introduced, and in countries, especially in Asia and Africa, where rural dwellings are heated by primitive stoves and food is prepared over open fires, causing large emissions

Naturally, measures targeting soot and other short-lived particles must not undermine efforts to reduce CO2 emissions. of soot particles.

In 2011, the United Nations Environment Program published a report comparing measures targeting soot particles and other so-called “short-lived climate pollutants” to measures reducing CO2, which showed that the former would achieve a more rapid decrease of global warming in the coming decades.

The proposal in this report is now gaining support among governments in many countries and may become an important complement to measures to limit CO2 emissions of.

Naturally, measures targeting soot and other short-lived particles must not undermine efforts to reduce CO2 emissions. In the long term, emissions of CO2 and other long-lived greenhouse gases constitute the main problem. But a reduction in emissions of soot (and other short-lived climate pollutants) could alleviate the pressures on the climate in the coming decades.

So, what do we do about white particles? How do we weigh improved health and reduced mortality rates for hundreds of thousands of people against the serious consequences of global warming?

It is difficult to imagine that any country’s officials would knowingly submit their population to higher health risks by not acting to reduce white particles solely because they counteract global warming. On the contrary, sulfur emissions have been reduced over the last few decades in both Europe and North America, owing to a desire to promote health and counter acidification; and China, too, seems to be taking measures to reduce sulfur emissions and improve the country’s terrible air quality. But, in other parts of the world where industrialization is accelerating, sulfur emissions continue to increase.

One way out of the dilemma could be to allow higher sulfur emissions in sparsely populated areas where the soil

is not vulnerable to acidification. Here, emissions from ship traffic on the open seas come to mind. However, this is probably not a viable alternative.

The most reasonable conclusion is that we should limit particle emissions to reduce health risks.As a consequence, the greenhouse effect would come more fully into view, which we could then hope would further strengthen the resolve to reduce emissions of CO2 and other greenhouse gases.

Nobel laureate Paul Crutzen has suggested another solution: manipulate the climate by releasing white sulfur particles high up in the stratosphere, where they would remain for several years, exerting a proven cooling effect on Earth’s climate without affecting human health. In 1991, the eruption of Mount Pinatubo in the Philippines created a haze of sulfur in the higher atmosphere that cooled the entire planet approximately half a degree Celsius for two years afterwards.

Other methods of geo-engineering - that is, consciously manipulating the climate - include painting the roofs of houses white in order to increase the reflection of sunlight, covering deserts with reflective plastic, and fertilizing the seas with iron in order to increase the absorption of CO2.

According to the Royal Society in Britain, releasing sulfur particles into the stratosphere would probably be the most cost-effective method. But our goal should be to avoid such a hazardous enterprise, which future generations would have to continue for hundreds of years. Instead, we should aim to reduce emissions of CO2 and other pollutants that contribute to global warming.

Henning Rodhe is Professor of Chemical Meteorology at the Bert Bolin Center for Climate Research, Stockholm University.

Samsung, which made its name in televisions, is more of a smartphone company.

Apple. The Japanese cannibalized the TV market by developing both LCD and plasma-screen. Samsung bet on LCDs. The Japanese stuck to a more profitable home market for mobile phones. Samsung discovered a new world of profit overseas.

The problem for the Japanese - and Apple - is that Samsung can now outmuscle them. Sony spent only half the 2.4 billion US dollars Samsung shelled out on R&D last quarter. And though Apple’s investments are ample, it is having to turn to Sharp and Sony to reduce its reliance on Samsung for high-end components.

Samsung has also perfected the Japanese tactic of product differentiation, and offers several versions of its Galaxy at different prices. Added choice could help it extend its lead on Apple in fast-growing but more price-sensitive emerging markets like China. Even Apple, now, could get bitten.

The author is a Reuters columnist. The opinions expressed are his own.

Greenpeace activists hold placards in the shape of a postcard with a picture of smoke billowing from a power plant during a demonstration against the pollution in Beijing, Beijing April 27, 2012. (Reuters)

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5) MOTHERCARE Toilet Training Set 6) MOTHERCARE 2 position Baby Carrier 7) SCENIQUE Baby Crib Musical Mobile with Sonic Control 8) AVENT Breast Pump Set with 2 Bottles & Accessories

KD 5 KD 5 KD 5 KD 20

Slimming massage, manicure, pedicure, acrylic and nail extension. Please call

69696177

21-03/21-04

Driving Instructors Available Flexible timing Reasonable price For males and females Abu Khaled

Contact: 55224747

WDLR

We carried out all kind of electrical house holds LCD TV Telephone PBX maintenance and installation. DSL wirings trouble shootings and wireless solutions.

Required licensee for a tax business.Tel:66689802

- Flexible Timing - Reasonable Price - For all languages Mudarrib Nafais : Contact: 65553012

SLR

Kitchen Equipment repairs 24hours.

Abu Mahmud: SLR

Professional gardening services.

Tel:67058331

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Garmin GPS Tel:99226042

for

sale.

Selling the numbers (90008944-5500503).

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

Tel:99739700 Kitchen Tel:24762688

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Carpenter.

Tel: 66291129 SLR

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

For rates, please call

6068 5554

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One big room available for Keralite couple or working ladies in Hawally with Keralite family.

2 bedroom, 1 bathroom rent KD 85. Tel: 50824257

bathrooms, living room and kitchen along a maid room.

Tel: 90958689-99925977

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

Apartment in Jabriya, 3 bedrooms, 3 bathrooms, living and kictehen.Tel: 66256814 Apartment in Zahra, 3 bedrooms, 2 baths, living room and kitchene, KD360, Tel: 99725755 Apartment in Manqaf, 3 bedrooms, 3 bathrooms, living room and kitchen.Tel: 90958689 Studio in Salwa, block 1, street 6, house360, KD260.

Tel:66143662

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

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Apartment in Salmiya, 3 bedrooms, 3 bathrooms, living room, kitchen, pool, DSL and kids playground, KD475.Tel: 66297171

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

Tel:60001848

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

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Ford Lincoln, grey exterior.

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2005,

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

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 Toyota Camry 2000, in great condition.Tel:99734995

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Private French lessons with an experienced teacher in all levels and with all age groups. Interested?

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

A well known Bakala

located at Block 4 Mahaboula behind Alia and Galia Tower.

Floor space 5mX5m, with bathroom, include 2 chillers, 2 freezers, cash register, vegetable scale, with stocks.

SLR

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Interested parties may contact

60452716

SLR

20-03/20-04

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.

Learn Arabic For foreigners to learn Arabic easily.

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Packing and moving services.

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

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24-01/24-02

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

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

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

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Required chef for Lebanese restaurant. Tel: 6509292697686366

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Apartment in Abdullah Al Ahmad, 3 bedrooms, 2 bathrooms, living room and kitchen.

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Cars

30-01/30-02

Those interested can call: 97932925

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Apartment in Salmiya, 2 bedrooms, 3 bathrooms, maid room, living room and kitchen, KD400.

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Nissan Altima Tel:94915050

25/12 - 25-02

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

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

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Apartment in Manqaf, private entrance, 3 bedrooms, 3

Arabic Teacher

contact Mr. Khaled Ph: 99619998 & 55619998

FOR RENT

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

FOR SALE

Work/Employment

FOR RENT

Room available only for Filipino, single lady near Kuwait National English School, Hawally. Accessible to bus going to City and Sharq. New building with Pinoy TV Channel and large sala & dining area. Tel: 97197268

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

25/12 - 25-01

SLR

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

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

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

Price: KD. 15 each

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

(includes mattres)

50kgs Weight lifting set of dumbbells - KD 30 Exercise bench for lifting - KD 25 AB King Pro W/C - KD 15 All the above are as good as new.

16-04/16-05

28-02/28-03

Serious buyers please contact 67002524

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WDLR

Items for sale

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

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Senior Manager available in Furniture, General Trading, FMCG, Air & Sea Freight Forwarding, Retails, Wholesales.

Can suggest acquiring profitably running Cash businesses with line-of-products.

Please Call: 9983 4436

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Please contact Mr. Sabir, mobile 99509163

Tel: 60091481

30 years experienced

Exercise equipments for sale

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

2004,

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Carpool service, female driver covers all Kuwait areas.

Website designer and management

Tel:60361977

SLR

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Tel:66070166

Tel:66238890

SLR

Paints and wallpapers.

SLR

Baraka: Tel: 99881053

SLR

Brent slips, holds above $119 on stimulus hopes

BUSINESS

tuesdAY, may 1, 2012

m ar ket watc h KUWAIT 0.51% 6369

DUBAI 0.5% 1631

QATAR

OMAN

0.2% 8704

0.0% 5869

ABU DHABI 0.3% 2504

LONDON: Brent crude prices slipped but held above 119 US dollars per barrel on Monday as the prospect of a third round of liquidity stimulus by the United States and a weaker dollar continued to support commodities despite slower economic growth around the globe.

Brent June crude futures were down 62 US cents to $119.21 a barrel by 1119 GMT, on track to close down for the second consecutive month. US crude was down 66 cents at $104.27 a barrel.

See page 10

OIL MARKETS BAHRAIN

EGYPT

0.4% 1153

0.7% 4953

SAUDI

0.4% 7529

US Crude $104.08 $0.85 London Brent $119.40 $0.43 Kuwait Crude $117.21 $0.14 Information Courtesy: KAMCO

CURRENCIES US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2773 Sell 0.2778 Buy 0.3663 Sell 0.367

Buy 0.4502 Sell 0.4511

Buy 0.00346 Sell 0.003468

Buy 0.074 Sell 0.074

Buy 0.07554 Sell 0.07559

Buy 0.736 Sell 0.73656

Buy 0.00527 Sell 0.005263

Buy 0.006588 Sell 0.006576

Prices in Kuwaiti fils as of April 30, 2012 Courtesy: KAMCO

Kuwait posts KD 13 billion in budget surplus KUWAIT: State budget posted actual surplus of 13.3 billion Kuwaiti dinars in the end of last February, the 11th month of the fiscal year that began on April 1, according to fresh statistical figures released by the Ministry of Finance.

The surplus was made as a result of actual revenues that amounted to KD 26.8 billion, actual spending of KD 10.8 billion and real liabilities standing at KD 2.6 billion, Projections for the mentioned period had put projected deficit at approximately KD 6.7 billion, as a result of forecast income of at KD 12.3 billion, approved spending at KD 17.8 billion and projected liabilities at KD 1.2 billion.

Projections for the whole financial year, 2011-201, indicated at a prospected deficit of KD 7.3 billion, through forecast revenues of KD 13.4 billion, approved expenditure, after alteration, estimated at KD 19.4 billion and prospected liabilities at KD 1.3 billion.

Actual oil income, in February, reached some KD 2.6 billion, increasing by 63.2 percent, as compared to the projections, amounting to KD 1.6 billion.

Collected actual oil revenues, till end of February, reached KD 25.4 billion, with an increase of KD 13.7 billion, in contrast to the forecast, amounting to KD 12.3 billion, some 107 percent.

The figures showed that actual oil revenues, in the first 11 months of the current fiscal year, were higher than the projection, KD 11.2 billion, with an increase of KD 14.1 billion, some 125.8 percent.

The oil income constituted, in the mentioned period, 94.9 percent of the overall state financial revenues, amount-

Buy 0.07626 Sell 0.07619

In Focus

Star Wars Savio S. Gomes Exclusive to Al Watan Daily

An Afghan scarf vendor carries his merchandise in Kabul on April 30, 2012. The World Bank, one of the major international organizations that have financially supported Afghanistan in the last decade and committed to continue funding Afghanistan, will provide $150 million in grant annually to this country, even though rampant corruption has persisted since the last ten years. (AFP)

ing to KD 26.8 billion.

As to actual non-oil revenues, they reached KD 1.4 billion, rising by KD 276 million, as compared to the predic-

AAOIFI issues 7 Sharia standards for Islamic finance DUBAI: The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) has introduced new guidelines for applying religious law to finance, as it prepares to launch a sweeping review of the industry.

The seven new standards, which help scholars decide whether financial activities and products conform with Sharia law, address issues including financial rights, bankruptcy, capital protection, entrusting money to an agent for investment, and contract termination. Capital protection has been widely discussed in the industry over recent months; some investment firms are keen to offer it in products, but Islamic principles do not allow companies to promise guaranteed returns. AAOIFI’s new standards also cover the ways in which financial institutions manage their liquidity, discussing the sources and uses of funds and offering rules for calculating and distributing profits from investment instruments. How to increase liquidity has been a key concern for Islamic banks. Last month two global bodies launched a standard contract for Islamic profit rate swaps, which banks can use to manage their exposures over varying time periods. The Bahrain-based AAOIFI announced the new standards on Sunday after several days of internal discussions among Sharia scholars, its deputy secretary-general Khairul Nizam told Reuters. The standards are being issued first in Arabic and will be translated into English later. AAOIFI, one of the top standard-setting bodies in Islamic finance globally, will over the next couple of years conduct a broad review of how the industry operates, addressing issues such as how boards of scholars work, the organization’s secretary-general Khaled Al-Fakih said earlier. -Reuters

tion, estimated at KD 1.1 billion, with a rise of 24.3 percent. Moreover, the official figures revealed that the actual nonoil income, standing at KD 1.043 billion,

was higher than the projection by KD 371 million, 25.6 percent. Price of the Kuwaiti crude oil stood at 115.97 US dollars per barrel on Friday. -KUNA

Dubai Islamic Q1 net profit rises 11% DUBAI: Dubai Islamic Bank (DIB), the largest Sharia-compliant lender in the emirate, on Monday said its first-quarter net profit rose 11 percent, in-line with one analyst’s forecast and helped by growth in its core businesses.

DIB, an advisor to Dubai government’s recent 1.25 billion US dollar bond sale, posted a net profit of 245 million dirhams ($66.70 million) for the first-quarter (Q1), it said in a bourse statement.

That compared with net profit of 222 million dirhams for the year-ago period.

An analyst polled by Reuters forecasted net profit of 246 million dirhams for the quar-

ter in a Reuters poll.

DIB, which became a majority owner of mortgage lender Tawmeel in 2010, said its core business of financing and investing assets and investment Sukuk grew by two percent in the quarter. The Emirate’s thirdlargest lender by market value booked additional provisions of 299 million dirhams in the quarter, it said, without providing any comparable figures. Revenue for the quarter fell slightly to 1.23 billion dirhams compared with 1.28 billion dirhams for the same period last year, DIB said.The lender’s shares have risen 2.6 percent year-to-date on the Dubai bourse. -Reuters

Commercial Bank names new chairman KUWAIT: Commercial Bank of Kuwait (CBK), the Gulf state’s fourth largest lender, has named Ali Al-Moussa as its new chairman, the company said in a statement posted on the bourse website on Monday.

In February CBK reported a sharp drop in full-year net profit and trading in its stock

had been suspended until after the bank’s annual general meeting, held on Sunday.

Kuwait Stock Exchange (KSE) halted trading in CBK earlier this month until the bank holds its AGM. Shares of several other companies in Kuwait have also been suspended after firms were unable to report earnings on time. -Reuters

Iraq lures Kuwaiti, foreign investors to have stake in development ventures BAGHDAD: Iraq affirmed on Tuesday keenness on boosting economic and trade cooperation with neighboring Kuwait and its bids to remove hurdles facing Kuwaiti entrepreneurs seeking to launch businesses in the country.

Iraq and Kuwait, in case they succeeded in unifying efforts in the economic and commercial sectors, could turn into a major economic power in the north of the Gulf, said Dr. Sami Al-A’araji, the head of the National Investment Authority, during a meeting with a visiting delegation of eminent Kuwaiti journalists and media figures.

Affirming that Iraq advocated establishment of ‘excellent ties’ with Kuwait, he noted visit of HH the Amir Sheikh Sabah Al-Ahmad Al-Sabah to Iraq, last March, re-affirming that it was widely applauded among the Iraqis.

Prime Minister Nouri Al-Maliki is seeking to elevate the bilateral relations to a level higher than that existed prior to 1990, he said, noting that he had guided the authority to seek to establish cooperation at the development and economic levels with Kuwait. Al-A’raji also noted his recent visit to Kuwait and talks with counterparts on prospected joint business opportunities.

Lots of achievements can be made if potentials of Kuwait and Iraq are soundly invested, he said noting Iraq’s prior need for upgrading the infrastructure and boosting development.

Moreover, he re-affirmed Iraq’s keenness on estab-

lishing economic partnership with Kuwait and opening doors for the entrepreneurs to invest in Iraq, in both the private and public sectors.

Al-A’araji indicated at various investment opportunities in Iraq, particularly in the sectors of oil, gas, industries, agriculture, housing, health, education, transport, power and tourism.

Shedding further light on the domestic investment front, he noted that Iraq was examining a series of bills intended to lure investments, and other draft laws for protecting the national product, regulating custom fees, trade, competition, monopolization and protection of the consumer.

The Ministry of Oil has declared investment opportunities in the refineries of Al-Nasrieh, Kirkuk, Al-Amara and Kerbalaa, said the head of the investment authority, noting that the total output of oil from these refineries amount to 740,000 barrels per day. He added that interested investors could take part in such ventures on basis of partnership or the build-operate-transfer (BOT) system.

Several foreign companies are currently operating in Iraq seeking stakes in mega projects, such as construction of services stations at the ports and the sector of oil derivatives.

Elaborating, Al-A’araji forecast that the production of oil in Iraq would soar to 10-12 million per day in 2017, indicating that the plan for increasing the output would warrant affiliate projects for expansion of industries such

as oil derivatives and chemicals.

He indicated at various planned legislations intended to boost privatization and partnership with the private sector, also hinting at potentials for investment in other domains, such as textiles, fertilizers, glass, food, medicines and cement.

Iraq’ need for construction materials, till 2019, are estimated at 40 million tons of cement and seven million tons of iron. On housing, he noted the need to build two million units at a projected cost of 150 billion US dollars. As to power, the country’s requirement for electricity would hike from 13,000 megawatts to 20,000 megawatts in 2015. Several deals had already been signed to increase the power output.

On transports and railways, Al-A’raji noted that $15 billion would be invested in this sector in the short term.

As to the airports, there are three main airports in Baghdad, Mosul and Basra, in addition to several other small ones, and the authorities are seeking to transform them into international airports. Baghdad is also seeking to build a special airport for religious tourism to serve up to 15-20 million tourists per year.

The head of the investment authority touched on other major plans and ventures concerning the sea ports, hospitals, religious tourism, agriculture, noting that billions of dollars should be spent for renovating these fields. He also indicated at efforts to relieve the foreign investor of legal and bureaucratic constraints. -KUNA

KUWAIT: The International Monetary Fund (IMF) released data that India’s gross domestic product (GDP) in purchasing power parity (PPP) was 4.46 trillion US dollars for 2011, to become the world’s third largest economy after the US and China. India’s share of world GDP in terms of PPP was 5.65 percent in 2011 and within five years is expected to be over eight percent, all this despite a slowdown designed to curb inflationary pressures.

China, however, is more wary of an Indian housewife, Tessy Thomas. Tessy is the project director who recently led a team of Indian scientists to successfully test a nuclear capable missile with a range of 5,000 kms, with the capability to strike China’s biggest cities including Beijing. More worrying for the Chinese, Tessy who named her son Tejas after India’s indigenous light combat jet is now working on developing missiles with multiple warheads.

Google’s Larry Page and Eric Schmidt have plans beyond cyber space, literally into deep space. Page and Schmidt, along with other billionaires are investing in space exploration company Planetary Resources.

The company has plans to mine asteroids using robots for precious metals and will send rockets into space with miniature space craft within three years.

The idea is not as far fetched as it may seem, considering that already paying tourists can spend a week at the International Space Station. Google’s Lunar X Prize will also award $30 million to the first private company that lands a robot on the moon.

Goldman Sachs, appears to have stumbled upon an unpublished work of Einstein, and has recently proven that time travel is possible. Goldman’s current share price is roughly the same as toward the end of 2005 and early 2006.

Latest quarterly revenues ($9.9 billion) are eerily close to 2006’s first quarter result ($10.3 billion).

Operating expenses for these periods were also almost identical at $6.8 billion (2006) and $6.8 billion (2011).

Earnings after tax were $2.1 billion for the last quarter or 2011 ($2.4 billion in 2006). The only difference is that back in 2006, these results were achieved with much lower shareholder’s equity and Goldman Sach’s annualized return on equity for the first quarter of 2006 was a staggering 36 percent (12 percent for 2011). Clearly, Einstein’s new found formula for financial time travel extends only to the income statement and not to balance sheet reengineering.

Shareholder bodies in the US continue to fret that management compensation and incentives are based on low hurdles. Executive pay in the US is largely out of sync with stock price performance, dividends and shareholder wealth creation. Citigroup’s shareholders recently voted against the executive pay plan.

Citigroup is the first large US bank to face majority opposition (55 percent of shareholders either voted against or abstained) in a pay vote and is now the 12th S&P 500 company to lose the vote on pay.

In 2011, 37 companies (including Hewlett - Packard) in the Russell 3000 did not receive majority approval for executive pay plans. Shareholder advisory firms generally opined that performance pay plans were based on easy to achieve profit targets. Citigroup’s CEO, Pandit, who made news with his famed self imposed one dollar salary (2009 and 2010), was awarded a compensation of $15 million last year.

Whistle blowing by insider employees on white collar crime appears to be the new get rich mantra in the US. Informants who provide evidence (recordings, documentation or other forms of evidence) of crimes such as accounting fraud, bribery, stock market manipulation can hope to get rich under programs created by the 2010 Dodd - Frank law.

Informants can qualify for rewards up to 30 percent of the amount that the Securities Exchange Commission eventually recovers through the courts or a settlement. Greed, it appears is still good and bounty hunting as a profession is alive and well.

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

KSE ends trading with 32.1 point jump

KUWAIT: Trading ended at Kuwait Stock Exchange (KSE) on Monday in green, with the price index reading 6,368.6 points after a gain of 32.1 points, and the weighted index came to 417.47, a rise of 1.44 points.

Trades came to 5,211 transactions, worth KD 36 million, with 491,160,000 shares changing hands.

As for sector indices, three sectors ended in red, with banking sector as the biggest loser, shedding 35.4 points, while the other four indices were in green, with investment sector as a top gainer, with 45.5 points.

Top share for the day was that of Al-Dar National Real Estate Company, while top lose was Gulf Finance House.Topvolume share was of National Ranges Company. -KUNA

10

ALWATAN DAILY

BUSINESS

tuesDAY, may 1, 2012

Brent slips, holds above $119 on stimulus hopes LONDON: Brent crude prices slipped but held above 119 US dollars per barrel on Monday as the prospect of a third round of liquidity stimulus by the United States and a weaker dollar continued to support commodities despite slower economic growth around the globe.

Brent June crude futures were down 62 US cents to $119.21 a barrel by 1119 GMT, on track to close down for the second consecutive month. US crude was down 66 cents at $104.27 a barrel.

Analysts and traders said the market was effectively trading sideways following data on Friday which showed slower-than-expected US gross domestic product (GDP) growth in the first quarter, raising hopes of a fresh liquidity injection.

The dollar hit a two-month low against a basket of currencies on Monday. A weaker dollar makes commodities priced in dollars more affordable for buyers using other currencies.

James Zhang, energy analyst at Standard Bank, said the market was in a cautious mood ahead of a heavy week for US data releases.

“The market is undecided, but if anything there is a slightly bearish bias given that the weekly U.S. jobless report has disappointed over the last few weeks. That potentially points to a downbeat non-farm payroll report on Friday,” he said.

But he added that whenever US data show signs of weakness, the market becomes hopeful of another round of monetary easing.

In Europe, Spain’s economy slipped into recession in the first quarter as domestic demand

Supply factor

FILE - BP service station is seen as petrol prices continue to rise on April 16, 2012. Brent crude prices slipped but held above 119 US dollars per barrel on Monday, April 30, 2012, as the prospect of a third round of liquidity stimulus by the United States. (AFP)

shrank against a background of deep government spending cuts.

Trading volumes are expected to be fairly

light today because of the May Day bank holiday across much of Europe on Tuesday. This may limit oil price moves.

“It’s still in the same range as Friday and because of the European holiday tomorrow, a lot of people are out today as well, which is mak-

DP World Q1 cargo volumes jump nearly 10% Dubai’s JAFZA in advanced talks to refinance $2 billion Sukuk

DUBAI: Seaport operator Dubai Ports (DP) World says strong business in Asia boosted cargo volumes at its ports nearly 10 percent in the first quarter of the year.

The world’s third-largest port operator said Monday it handled the equivalent of 13.8 million standard 20foot shipping containers between January and March.

That is up 9.5 percent from 12.6 million containers during the same period a year earlier.

Dubai-based DP World says the bulk of the gains came from its businesses in the Far East and the Indian subcontinent, which together saw a 14.6 percent jump in trade.

The government-backed company manages more than 60 cargo terminals on six continents.

In other news, Dubai’s Jebel Ali Free Zone (JAFZA)

is in advanced talks with financial institutions over a financing package to meet its two billion US dollar-equivalent Islamic bond, or Sukuk, maturity in November, the company said in a statement on Monday.

The state-linked industrial free zone, located on the outskirts of Dubai, will use the funding package solely for the redemption of its 7.5 billion dirhams ($2.04 billion) Sukuk, the statement, which accompanied its 2011 results, said.

“The board of directors is confident about JAFZ’s ability to refinance the Sukuk,” Hisham Abdullah AlShirawi, chairman of Economic Zones World (EZW), JAFZA’s parent and a unit of state conglomerate Dubai World, said.

In March, Reuters reported the company was preparing a three-pronged approach to the refinancing, consisting of a syndicated loan, another Sukuk issue, and partial cash repayment. Asset sales are also an option.

Along with a $1.25 billion Sukuk issued by another state-owned entity, DIFC Investments, which matures in June, the upcoming JAFZA redemption is being closely

tracked for the ability of Dubai Inc firms to meet their debt obligations.

Mohammed Al-Shaibani, a top Dubai financial figure and head of its de facto sovereign wealth fund, reiterated on Monday that DIFC Investments will be solely responsible for repaying its Sukuk. Market players have debated the likelihood of government support to strategic and non-strategic firms.

JAFZA’s Sukuk was last bid at a cash price of about 96.65, to yield 9.304 percent, according to Thomson Reuters data, down from nearly 10 percent earlier this month but higher than this year’s lows of 8.2 percent in early March.

The company reported a net profit of 242 million dirhams in 2011, up from 140 million dirhams in the previous year, its financial statements showed.

Last week, the government of Dubai successfully issued a $1.25 billion Sukuk which attracted healthy demand due to increasing confidence that the emirate is committed to honoring its public debt obligations.

-Agencies

Jordan shortlists MHI/Areva, Atomstroyexport for reactor AMMAN: Jordan has shortlisted a joint venture between Japan’s Mitsubishi Heavy Industries and France’s Areva as well as Russia’s Atomstroyexport to construct the kingdom’s first 1,000 megawatt nuclear power plant, officials said on Wednesday.

They said Areva, the world’s biggest maker of nuclear plants, was leading a consortium proposing the new generation Atmea nuclear reactor while Russia’s Atomstroyexport put forward the AES-92 VVER-1,000 MW reactor.

ing the market very quiet,” said Christopher Bellew, a trader at Jefferies Bache in London.

“It’s very much sideways at the moment.”

Analysts expressed surprise at how well oil was holding up given the bearish newsflow of the past few weeks.

“This is despite the fact that tensions with Iran have eased which should reduce the risk premium, and there are signs that growth momentum is slowing in the two-largest oil consuming nations, the United States and China,” said Commerzbank’s Fritsch.

The chosen bidders were among several designs shortlisted in May 2010 that also included Canada’s Atomic Energy of Canada reactor designs.

Jordan aims to open its first nuclear power station by 2019 and generate 30 percent of its total energy using nuclear power by the end of 2030.

Officials say it might take three years to choose the contractor and a further four or five years to build the plant.

Jordan is a signatory of the nuclear non-proliferation treaty, under which

Japan to create international LNG conference TOKYO: The Japanese government has settled on a plan to create a public-private conference of nations that produce and consume liquefied natural gas (LNG), a top-selling business daily here reported Monday.

The goal is to bring down the price of LNG, a resource for which demand is increasing at a rapid clip, and to also have Japan diversify the nations from which it imports gas, the Nikkei Shimbun said. The first meeting would be held in Tokyo as early as the fall, and then be held every year afterward.

The government envisions energy ministers of LNG importing and exporting nations participating in the conference, and will also call on firms such as Tokyo Gas Co., Exxon Mobil Corp. and Gazprom to join, it said.

Japan is currently sounding out 20 foreign governments - including importers such as South Korea and China, as well as exporters such as Qatar, Malaysia and Russia - and companies on the working level, the paper said, adding that Tokyo later plans to make requests on the ministerial level. With the exception of inside the US, gas prices have been trending up as Europe moves to wean itself off nuclear power and as developing economies grow. The conference would discuss issues such as how a sound LNG market would function without having exporters tending to supply specific customer nations.

Japanese Foreign Minister Koichiro Gemba and Economy, Trade and Industry Minister Yukio Edano will meet Indian Prime Minister Manmohan Singh in New Delhi later in the day and make the first request to a head of state to participate, the report said.

India consumed four percent of the LNG used globally in 2010. Although small, India procures more than 90 percent of its LNG from Qatar and is looking to diversify its supply sources. Its demand for LNG is expected to increase as the economy grows, so it is expected to find common ground with Japan on lowering the price. -KUNA

the IAEA monitors nuclear projects for peaceful purposes in countries seeking to establish a nuclear reactor.

The kingdom also hopes to use some of its estimated 65,000 tons of uranium deposits for the plant. Areva had in 2010 signed a joint venture with Jordan to mine uranium in the centre of the country under a 25-year concession.

Jordan generates most of its energy from fossil fuels, 95 percent of which it imports from neighboring Arab countries at a cost of over 25 percent of its gross

domestic product.

Jordanian decision makers say nuclear energy is the best choice to provide the energy to meet electricity demand, which is increasing by more than seven percent per year, due to a fast growing population and rising industrial needs.

The kingdom’s program also envisages an additional three reactors, all of which would transform the country from an energy importer to an electricity exporter. -Reuters

Qatar Airways to defer A380 deliveries on wing worry China Eastern buys 20 Boeing 777s worth $6 billion

CAPITALS: Qatar Airways will defer delivery of its A380 superjumbos until it gets more details about wing cracks on the Airbus aircraft, its chief executive said on Monday. European air safety regulators ordered checks in February for Airbus A380 wing cracks for the entire superjumbo fleet after safety engineers found cracks in almost all the planes inspected.

“Qatar Airways will have to defer scheduled deliveries of its A380s from October 2013 until we have a clear position on the issue surrounding wing cracks which are under process of modification by Airbus,” Chief Executive Akbar Al-Baker said at a Dubai travel show. Qatar has an order for five A380 aircraft pending and was due to receive the first of these next year. In January, Al Baker said he was confident Airbus would fix the cracks on its flagship aircraft but did not rule out delaying delivery if the problem persisted. Airbus said last week it was slowing down production of the world’s largest aircraft as it develops a long-term solution to premature cracks in some of the brackets inside the wings but insisted it would stick to its schedule of delivering a total of 30 A380s this year. It says the plane is safe to fly. .

The Gulf Arab carrier’s chief executive also said the airline pulled out of talks with Spanair after Spanish regulators said state aid given to the loss-making carrier had to be repaid. Spanair halted operations in January. “The only reason we pulled out of Spanair is when state-aid got involved. Regulators said all state aid received by Spanair needed to be paid back.

We are not interested in such business,” he said, but added that the Spanish airline had huge potential and would have added a lot of value for Qatar Airways.

Al-Baker said his fast-growing airline aimed to cover 170 destinations and have an equal number of

aircraft in the next three years.

He said the airline would imminently order 10 aircraft from Canadian planemaker Bombardier Inc. to bolster its corporate jet business. The order is valued at $700 million.

In more news, China Eastern Airlines Company is buying 20 Boeing 777 jets worth nearly six billion US dollars while also selling five Airbus A340s to the US plane maker because they’re costlier to run, the Shanghai-based airline said Monday.

The airline said it’s selling the Airbus A340-600 airplanes worth $708 million to Boeing because they have high operating costs and “relatively weak route competitiveness.” The Airbus jets are about 8.3 years old, on average, and fly long-haul routes to New York and Los Angeles. China Eastern said list price of the 777-300ERs is $5.94 billion but it negotiated a discount. Airlines routinely get discounts from aircraft makers, and the final selling price for aircraft is rarely disclosed. Boeing said last week the deal needs Chinese government approval.

The new jets will be delivered in stages from 2014 to 2018. The airline will pay for them using working capital, bank loans and other sources of financing.The 777 is a twin-engine plane designed for long trips. It carries 365 passengers up to 7,930 nautical miles.

The 777s will be used to meet increasing demand on international long-haul routes, the airline said.

The Airbus A340-600 is a four-engine plane that can carry about the same number of passengers and travel the same distance as the 777. The unaudited book value of the five Airbus jets China Eastern is selling was approximately 4.47 billion Chinese yuan ($708 million) at the end of April. They’ll be delivered to Boeing in stages from 2014 to 2015.

Boeing spokesman Yukui Wang would not comment on the deal to buy China Eastern’s second-hand Airbus jets. But he said the company has in the past bought jets made by other plane makers and then sold them to other companies. -AP

SEB’s Petersson said equity markets had run a bit ahead of crude, which could be providing some support. But he added that the oil supply factor should continue to weigh, with over-production from Saudi Arabia.

“There is an Armada of tankers heading towards Asia from the Middle East so there’s a general feeling of over-supply in the market,” he said.

Speculator positioning in US crude oil futures and options was mixed in the week to April 24, CFTC data showed on Friday, with traders cutting their positions on the New York Mercantile Exchange (NYMEX) but raising them in London.

Investors will scour data on Chinese PMI on Tuesday and US employment on Friday for a better read on the economic health of the world’s two largest oil consumers.

Chicago April PMI data, due out at 1345 GMT, is forecast to ease back to 60.5 in April, from 62.2 last month. -Reuters

OPEC output hits highest since 2008

LONDON: The Organization of the Petroleum Exporting Countries (OPEC) output in April has hit its highest since 2008 as extra crude from Iraq, Saudi Arabia and Libya more than compensates for the lowest Iranian supply in two decades ahead of an EU embargo, a Reuters survey found on Monday. Supply from the 12-member Organization of the Petroleum Exporting Countries averaged 31.75 million barrels per day (bpd), up from a revised 31.32 million bpd in March, the survey of sources at oil companies, OPEC officials and analysts found.

As well as cushioning the impact of the looming European Union plan to embargo Iran’s crude, the extra oil is filling gaps caused by an unusually large amount of supply outages globally, which have helped support oil prices this year.

“There’s plenty of oil in the market,” said Paul Tossetti, an analyst at PFC Energy. “But there has been a lot of nonOPEC outages, which have continued to tighten supplies.”

OPEC’s total is the highest since September 2008, which was shortly before it agreed to a series of supply curbs to combat recession and collapsing demand, based on Reuters surveys.

In April, the biggest increase in OPEC supply came from Iraq as a second new Gulf shipping outlet provided a boost to export capacity. Production topped three million bpd and rose by 230,000 bpd from last month.

Saudi Arabian supply edged up in April to 10.0 million bpd, the survey found. Some customers say the kingdom, which has said it wants to see lower oil prices, has been offering them extra crude.

Output continued to recover in Libya after being virtually shut down during the 2011 uprising against Muammar Gaddafi’s rule. Supplies also rose from OPEC’s two West African members, Angola and Nigeria.

In Iran, which faces the EU ban from July, output fell significantly in April for a second month, according to oil industry sources outside the country.

Supply declined to 3.15 million bpd in April, according to the survey. That would be the lowest output in Iran since it produced 3.088 million bpd in 1990, according to figures from the US Energy Information Administration.

In March, Iran’s exports posted the first sizeable decline since the EU announced in January its plan to embargo Iran’s crude and Washington and Brussels sanctioned Iran’s central bank. -Reuters

China mulls guarantees for ships carrying Iran oil BEIJING: China is considering sovereign guarantees for its ships to enable the world’s second-biggest oil consumer to continue importing Iranian crude after new EU sanctions come into effect in July, the head of China’s shipowners’ association said.

Tough new European Union sanctions aimed at stopping Iran’s oil exports to Europe also ban EU insurers and reinsurers from covering tankers carrying Iranian crude anywhere in the world. Around 90 percent of the world’s tanker insurance is based in the West, so the measures threaten shipments to Iran’s top Asian buyers China, India, Japan and South Korea.

Global crude oil prices have risen nearly 20 percent since October, partly on fears over supply disruptions from Iran. “(Ship) operators are worried that if the insurance issue cannot be resolved, they will not be able to take orders for shipping Iranian oil any longer,” Zhang Shouguo, secretary general of China Shipowners’ Association, told Reuters in a rare interview with foreign media. “We have put forward our concern and related government departments are studying the issue.”

Iran, OPEC’s second-largest producer, exports most of its 2.2 million barrels of oil per day to Asia, and major buyers have yet to find a way around pending EU sanctions. “We are paying great attention to this, the country has the need for oil and it’s our responsibility to move the crude,” said Zhang. “But we need a solution from the government so we can avoid such risk.”

Like China, India and South Korea were also mulling sovereign guarantees for their tankers. Indian shipping firms indicated last week they would continue to transport Iranian oil even if limited insurance cover exposed them financially to a spill or accident.

Chinese insurers and shipowners would not take the risk on themselves and government intervention was necessary, Zhang said.

Major ship insurer, China P&I club, told Reuters earlier this month it would not provide replacement cover for domestic tankers carrying Iranian oil. Most of China’s tanker fleet, owned by firms such as China Shipping, COSCO Group and Nanjing Tankers, were covered

by European insurers, analysts said. -Reuters

ALWATAN DAILY

BUSINESS

TUESDAY, MAY 1, 2012

Qatar to co-invest with Barclays resources unit DOHA: Qatar has signed a deal to coinvest 250 million US dollars with Barclays’ natural resources private equity investment unit, underlining the gas-rich Gulf state’s desire to plough some of its commodity wealth back into the sector.

The investments in Barclays Natural Resources Investments’ (BNRI) portfolio companies will be done via Qatar Asset Management Company, a joint venture between the gas-rich Gulf state’s sovereign wealth fund and the Qatar Financial Center (QFC).

The deal also cements the relationship between Barclays and Qatar, which through its sovereign fund was one of the top three shareholders in the British lender as of end2011, with a 6.8 percent stake.

The Qatar Financial Centre provides a platform for financial services, focusing on reinsurance and asset management, and has been positioned as the gas-rich Gulf state’s answer to glitzier Dubai’s financial center.

“Our objective for 2020 is that the amount of assets under management in Qatar will be between $150 and $200 billion,” Abdulrahman Ahmad Al-Shaibi, board member and managing director, Qatar Financial Centre Authority said at a conference to unveil the Barclays resources investment.

ing unemployment to even more dramatic highs.” Doubts about Spain’s ability to meet its deficit goals have been amplified by the plight of the banks, many bogged down in bad loans extended during a property boom which collapsed in 2008.

Standard & Poor’s on Monday downgraded the ratings of the top Spanish banks, including Santander and BBVA, after slashing the country’s credit standing because of the deficit and recession.

The banks affected include Santander and its subsidiary Banesto, BBVA, Banco Sabadell, Ibercaja, Kutxabank, Banca Civica, Bankinter and the local unit of Barclays.

An economy ministry official, who declined to be named, said the government was studying a scheme to allow banks to split off their bad loans and place them into

a separate agency.

The agency would not be a ‘bad bank’ - a special vehicle used in countries such as Ireland to help stabilize the banking system - because the state itself would take no part, the official said.

Banks that joined the scheme would have to set aside financial provisions that recognize the sharply reduced market value of the loans, extended during the housing bubble.

“It is so banks can go back to doing their work as banks and someone else can take care of selling the assets,” the official said.

Bank of Spain figures on Friday showed commercial banks held problem real estate loans worth 184 billion euros, some 60 percent of their property portfolio at the end of 2011. -AFP

A woman walks past a branch of Barclays bank in central London April 26, 2012. Qatar has signed a deal to co-invest 250 million US dollars with Barclays’ natural resources private equity investment unit, underlining the gas-rich Gulf state’s desire to plough some of its commodity wealth back into the sector. (Reuters)

Between $200 million and $300 million in assets are currently managed in Qatar, QFC’s Director of Banking and Asset Man-

Spain falls back into recession CAPITALS: Spain has tipped back into recession, official data showed Monday, grim news for a cash-strapped economy hobbled by rising debt, soaring unemployment and deeply troubled banks.

Spain’s gross domestic product shrank by 0.3 percent in the first quarter of 2012, equaling the slump in the final quarter of 2011, according to preliminary data from the National Statistics Institute.

The return to recession, blamed on weak domestic demand only partially compensated by exports, comes barely two years after Spain emerged from the last downturn at the start of 2010.

It was no surprise just days after an even more pessimistic diagnosis by Bank of Spain, which estimated the economy shrank 0.4 percent in the first quarter.

agement Yousuf Mohammed Al-Jaida told Reuters. The investment is consistent with Qatar’s approach of investing its commod-

ity wealth into the broader commodities sector. Last week, a senior executive of Qatar’s aggressive sovereign fund, the Qatar Investment Authority (QIA), said the financial crisis had restricted investment in commodities and that he expected a supply-demand gap to emerge by 2016 or 2017.

QIA has been the most active of the region’s sovereign wealth funds in recent years, deploying the Gulf nation’s plentiful natural gas riches in assets ranging from German sports car maker Porsche to British bank Barclays. The fund has also been slowly buying into London-listed miner Xstrata recently. Its current holding in Xstrata, which is planning to merge with commodities trader Glencore, is about 7.2 percent.

Barclays will continue to source, execute, manage and exit private equity transactions in the natural resources sector on a global basis and co-investors would be invited to participate immediately upon completion of each transaction, the British bank said.

BNRI has $2.1 billion committed in 22 portfolio companies, and typically commits $50 million to 200 million for each management team to help execute their business plans.

The company had been looking for a partner in the Middle East for a while. -Reuters

Despite growing opposition to cuts during a recession with 24.4-percent unemployment in the first quarter, the government has vowed to meet its tough deficit-cutting targets so as to regain market confidence.

Tens of thousands of people took the streets on Sunday to protest against the conservative Popular Party’s austerity measures, especially those affecting health care and education.

“Looking ahead, we fear that things are likely to get worse before they get better,” warned ING economist Martin van Vliet.

“Indeed, the ongoing drag from real estate and the sheer scale of Spain’s planned fiscal adjustment -- more than four percent of GDP (gross domestic product) this year - mean that the recession will almost certainly deepen in the coming quarters, push-

Trading Prices of Kuwait Exchange Trading Prices of Kuwait StockStock Exchange

Company

Ÿ

High

Low

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

1,080 440 780 580 900 275 440 740 600

1,060 435 780 580 890 265 430 730 590

Kw Investment Commercial Facilit.

Int'L Financial Adv. National Invest.

Kw Projects Ahlia Holding Coast Invest.

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

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

104 265 148 330 61 108 118 38.5 156 53 34 39.0 66 290 38.5 240.0 98.0 67.0 194 32.0 68 61 52 106

102 265 144 320 60 104 118 35.5 152 51 32 38.0 66 290 38.0 234.0 94.0 64.0 192 32.0 68 61 51 104

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Global Index - Banking

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Global Index - Investment

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

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Global Index - Insurance

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

57 110 136 248 234 124 38.0 95 1,020 73 20.5 64.0 89 61 70 78 87 28.5 43.5 80 34.0 42.5 31.5 37 58 370

Global Index - Real Estate

Nationl Ind Ind. Group Pipes Ind. & Oil Kuwait Cement Refrigeration Ind. Gulf Cables & Elec.

Heavy eng. & Ship.

Marine Services Portland Cement

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Date of Closing Prices:

226 122 450 134 1,300 285 860

224 120 450 130 1,260 285 860

1060 440 790 590 890 265 435 730 590 318.30

-10 -10 5 0.56-

DTD 0.34% 0.51%

Last Bid

Last Ask

MTD YTD 0.11% -2.01% 3.30% 9.54% Div. Annual Close Yield High Low P/E

910,000 270,000 110,000 15,000 65,000 1,930,000 1,010,000 775,000 3,465,000 8,550,000

42 17 3 3 8 42 16 44 44 219

966,700 118,700 85,800 8,700 57,900 521,700 438,300 566,250 2,077,400 4,841,450

1,060 435 770 580 890 270 435 730 590

1,080 440 780 590 900 275 440 740 600

3.8% 0.0% 0.0% 2.6% 1.7% 1.9% 2.3% 2.1% 0.0% 2.0%

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

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

15.26 37.84 1224.91 17.44 33.38 25.83 13.29 26.39 128.53 19.36

360,000 10,000 900,000 400,000 2,720,000 19,180,000 160,000 22,560,000 5,780,000 4,760,000 23,040,000 800,000 80,000 10,000 1,440,000 7,560,000 6,840,000 6,800,000 80,000 80,000 280,000 120,000 680,000 2,600,000 107,240,000

14 1 30 16 41 252 3 212 64 39 118 9 2 1 15 190 97 113 3 1 3 3 15 56

102 260 144 320 60 106 118 38.5 154 51 34 38.5 66.0 285 38.0 240.0 97.0 65.0 192 31 67 68 60 50 106.0

106 265 148 325 61 230 108 120 102 156 52 39.5 69.0 295 53 38.5 98.0 66.0 194 265 32 69 61 51 108.0

0.0% 0.0% 0.0% 0.0% 6.2% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2.1% 0.0% 0.0% 0.0% 0.0% 0.0% 3.6% 4.2% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2.3%

112 285 67 182 345 18.5 69 25.0 130 36.0 230 122 120 102 52 35.5 150 65 35 71 44.0 48.5 70.0 26.0 295 65 39 51 47.5 104 270.0 130.0 25.0 33.5 96.0 29.0 190 310 114 32 89 73 60 59 64 42.5 140.0 85.99

104 255 40 144 295 11.5 50 25.0 130 21.0 230 99 102 50 52 24.0 106 47 21 71 28.5 48.5 64.0 26.0 242 51 36 51 26.0 61 99.0 19.5 19.0 16.0 38.0 29.0 154 255 114 26 58 50 51 47 64 42.5 106.0 74.96

16.16 10.02 0.00

102 260 52 146 320 13.0 60 25.0 130 25.0 230 108 118 102 52 36.0 152 51 31.5 71 37.0 48.5 66 26.0 285 51 38.5 51 38.5 100 230.0 95.0 22.0 22.5 66.0 29.0 194.0 265 114 32.50 72 68 61 51 64 42.50 106 82.27

1,298

37,160 2,650 132,160 130,150 164,640 2,050,920 18,880 853,520 894,760 247,280 773,680 30,920 5,280 2,900 55,400 1,790,680 653,120 442,640 15,440 2,560 19,040 7,320 34,720 274,280 8,640,100

300 520 460 126 220 122 40.50 42.44

300 520 460 126 220 122 40.50 42.44

Ex-D Ex-D Ex-D 0.00

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270 450 118 -

300 500 460 132 -

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

325 610 540 148 220 134 40.5 44.91

13.38 280 13.67 520 10.96 450 20.49 102 66.32 220 102 40.5 64711.96 12.95 42.22

56 110 128 246 28.5 228 118 104 37.0 110 94 1,000 73 19.0 64.0 89 59 70 78 36.0 85 26.0 87 17.5 42.0 59 75 160 47.0 31.5 41.0 17.5 29.0 134 134 220 57 365 58.57

1 4 2 6.0 6 1.0 -1 -1 1.0 -1 2 2.5 1.0 5 2.5 1.0 2.5 Ex-D 0.47

3,640,000 980,000 420,000 560,000 20,000 40,000 2,320,000 400,000 712,500 160,000 71,200,000 5,560,000 800,000 560,000 640,000 80,000 3,600,000 7,760,000 3,200,000 160,000 8,320,000 3,360,000 18,880,000 160,000 520,000 3,120,000 137,172,500

40 18 17 7 1 1 24 9 30 4 360 45 8 13 14 2 68 65 31 2 87 31 134 2 12 90 1,115

204,000 107,800 55,880 138,880 4,680 4,960 87,560 37,520 714,650 11,600 1,418,360 351,880 71,160 33,440 44,480 6,200 311,960 220,200 137,840 12,720 274,640 141,360 582,200 5,920 29,960 1,134,750 6,144,600

56 110 132 246 234 122 98 37.5 93 1,000 72 19.5 63.0 89 58 68 83 35.5 86 28.5 87 43.0 54 75 150 34.0 42.0 31.5 36 57 360

57 112 134 248 31.0 236 128 108 38.0 120 94 1,020 74 20.0 64.0 90 60 70 37.5 88 92 43.5 58 80 168 42.5 39 58 365

Ÿ

57 110 132 248 28.5 234 124 104 38.0 110 93 1,000 72 20.0 64.0 89 59 70 77 36.0 87 28.5 87 17.5 43.0 59 80 160 47.0 34.0 42.0 17.5 31.5 134 134 220 57 365 59.04

0.0% 4.5% 0.0% 6.0% 0.0% 3.4% 0.0% 6.7% 0.0% 6.4% 0.0% 1.0% 0.0% 0.0% 0.0% 5.6% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 6.3% 6.3% 0.0% 0.0% 0.0% 0.0% 0.0% 3.7% 0.0% 0.0% 0.0% 0.0% 0.9%

63 118 152 246 37.5 250 130 100 52.0 120 104 1,080 85 20.0 68.0 97 75 73 90 38.0 92 23.0 91 17.5 45.0 70 80 174 52.0 39.5 40.5 28.5 25.5 134 40 220 70 480 59.04

47 97 108 200 28.5 224 114 77 27.0 108 94 840 62 11.0 35.0 77 54 52 74 33.0 59 13.5 87 17.5 31.0 57 64 116 27.5 22.0 25.0 17.5 15.0 134 31 220 49 270 49.06

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224 120 450 134 1,300 285 152 860

224 120 450 124 1,260 290 152 880

10 40 -5 -20

2,240,000 2 240 000 480,000 120,000 1,160,000 57,500 60,000 240,000

35 11 8 36 9 5 10

503,200 503 200 58,000 54,000 155,040 74,050 17,100 206,400

224 120 445 134 1,280 280 144 850

226 122 455 1,320 285 152 860

0 0% 0.0% 0.0% 3.3% 0.0% 5.6% 3.5% 0.0% 7.6%

260 136 475 158 1,480 345 222 920

214 116 415 122 1,240 290 134 660

ŷ ŷ ŷ ŷ Ÿ

56 110 126 248 234 124 37.0 93 1,000 72 19.0 62.0 88 59 69 77 85 28.0 42.0 79 31.0 41.5 29.5 37 57 360

1060 440 780 580 890 270 435 730 590 317.74

Previous Close Change 178.89 0.61 6,336.50 32.10 Trading Activity Chng Volume Tran. Value(KD)

104 265 52 146 325 13.0 61 25.0 130 25.0 230 108 118 102 52 38.5 156 52 34 71 39.0 48.5 66 26.0 290 51 38.5 51 38.5 100 240.0 98.0 22.0 22.5 66.0 29.0 192 265 114 32.00 72 68 61 51 64 42.50 106 83.04

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Last Close 179.50 6,368.60 Last Prev.

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2 5 5 1

2.5 4 1 3 2 5 10.0 3.0 2.0-0.5 0.77

DUBAI: Royal Bank of Scotland (RBS) expects Gulf borrowers to have no significant problems overcoming a refinancing hump this year that the bank estimates at 60 billion US dollars, though its own lending in the region will shrink, senior executives said on Monday.

“We don’t see any issue with the refinancing needs of the region,” Jacco Keijzer, RBS’ head of debt capital markets for the Middle East and Africa, told reporters in Dubai.

The ability of regional borrowers to refinance upcoming debt has been in focus as European banks, behind much of the loan activity in the Gulf in recent years, pull back as a result of funding pressures created by the Euro zone crisis.

RBS was still lending billions of dollars to entities in the United Arab Emirates (UAE) but the number of clients it was working with in the region had been cut back, the bank’s regional chief executive said.

“We have massively shrunk the number of clients to whom we are lending to now as we have lesser capital to deploy,” Simon Penney, RBS’ chief executive for the Middle East and Africa said.

RBS, 82-percent owned by the British government after it received 46 billion pounds of taxpayer cash following the 2008 financial crisis, announced a restructuring in January aimed at reducing costs and exposure to areas of investment banking deemed risky by the authorities.

While Western banks were stepping back from lending into the region, local banks were playing a bigger role in addressing the Gulf’s refinancing needs, Keijzer said.

“Loan activity has fallen 23 percent globally in the first quarter but we are seeing a reversal of that trend in the Middle East as local banks have stepped in to fill the gap left over by the foreign banks,” he said. RBS also remained active in the regional debt capital markets, Keijzer said, with the bank having between 5-10 bond mandates for the second half of 2012.

“It’s a mix of Islamic and conventional issues,” Keijzer said. “It all depends on how stable financial markets are during the second half.” -Reuters

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 Ÿ

RBS sees no issues with $60 billion Gulf 2012 refinancing needs

Trading Prices of Kuwait Stock Exchange Date of Closig Prices: 30/04/2012

Date of Closing Prices: 30 / 04 / 2012 For more information please contact “Global” at (+965) 180 42 42 or www.globalinv.net Global General Index KSE Price Index

11

14.46 0.00 9.18 0.00 0.00 0.00 0.00 0.00 0.00 49.15 0.00 0.00 69.83 0.00 0.00 0.00 0.00 14.23 0.00 0.00 0.00 19.16 20.94 16.18 550.15

0.00 0.00 5.29 14.13

51.21 12.93 17.31 22.83 10.99 15.16 23.37 29.41 0.00 15.51 410.74

158.31 0.00 14.66 8.00 202.69 0.00 0.00 26.88 439.41 0.00 0.00 19.42

20.11 7.52 12.85 19.03 30.81

Shuaiba Industrial

-

Metal Collecting Global General Index 132 Kuwait Foundry 330 KSE Price Index

ACICO 232 United Industries 88 Company High Boubyan Petroch.

620 1,140 Gulf Glass National Bank Gulf Bank 495 Hilal Cement Commercial Bank 770 Al Kout Ind. Project Ahli Bank 640 K-PAK Ahli UnitedMaterial Bank 850 Building International 248 315 Nat. Ind.Co.Bank 460 Burgan BankHolding Equipment 180 Kw Finance House Consumer Industries 890 Boubyan Bank 590 Kuwait Gypsum Global Qurain Index - Banking 216 Salbookh Trading Kw Investment - IKARUS 265 Commercial Facilit.

Boubyan Int'LAdv. Ind. 4176 Int'L Financial 174 National GlobalInvest.

Index - Industrial Kw Projects 300 National Cinema Ahlia Holding 13.5 Kw Hotels Coast Invest.

53 420 Agility Int'L Investor Market Complexes Securities House ZAIN 750 Ind. & Fin. Inv. Safat Energy 84.0 Securities Group Educational Group Int'L Finance Indep. Petroleum 110 MARKAZ 160 National Cleaning KMIFIC Sultan - 110 Int'L Inv. Center Group Arabi 134 Aref Inv.Group Group City Group Investment Dar - Tele.

2,420 AlWataniya AMAN Inv. Kw Gulf Link 122 ALOLA Inv. 110 Kw Cable ALMAL Inv. Vision 50 Automated System - Gulf Inv. House NAPESCO - A'ayan Leasing KCPC 310 32.5 Bayan Inv. K.S.H Inv. GLOBAL EyasInv. Osoul Hits Telecom GULFINVEST - 96 KFIC - 19.0 Al Safwa Holding KAMCO - Human Soft Int'l Leasing & Holding Inv. -76 Privatization Nat. Int'l Holding - Nafaaes Holding - Housing Finance National Slaughter MADAR 130 Aref energy 26.5 AlSafwan Deera Holding 540 AlGulf Safat Inv. 69.0 Petroleum 122.0 AlGulf Salam Group 23.0 Franchising 41.0 Ekttitab Credit Holding & Collection AlNational Qurain Holding -24.5 Ranges Sokouk BurganHolding Well Drilling 16.5 Al-Madina 40.0 IFA H&R Finance NOOR Combinted Group 1,700 Tamdeen Inv. 160 Jeeran Holding KW BH Int'l Exch.

Palms Agro 108 Taiba Kuwaiti Holding 72.0 Safat TEC Kuwait Syrian Mushrif Trading 104 Strategia UPAC 53 Kuwait China Inv. 300 ALAFCO Manafae Inv. Al-Muwasat - Gulf North Africa Mashaer Holding 285 Amwal Fuel AlOula Masar Future Comm.

Al-Imtiaz 132 128 Hayat Comm.

Global Index - Investment 68 Mubarrad Transport Kuwait Insurance -Kuwait Resorts Gulf Insurance - Advanced Technolgy Ahlia Insurance 380 Yiaco Medical 112 Warba Insurance Al Jazeera Airways Kuwait Re-Ins. Al Soor Fuel 232 First Takaful - Future Kid Ins. Wethaq Insurance 280 KGL Global Index - Insurance Al Nawadi Alrai Media 122 Kuwait R.E. 48 Zima R.E. Holding United 100 National 126 GlobalR.E. Index - Services Salhia R.E. 204 LiveStock Trans.

Pearl R.E. Dana Al-Safat 22493 Tamdeen R.E. United Poultry Ajial R.E. Kw FoodStuff 1,380 Massaleh R.E. United Food Arab R.E. 30.0 Kout R.E. Food - Union

- ŷ 122 źŸ 330 źź 232 ŷ 87 ŷ Low 610 ŷ 1,120 - ŷŷ 490 - ŷŷ 770 - ŷŷ 640 - źŷ 800 - Ÿ 248 305 ŷŸ 455 172 źź 880 - źŷ 580 - ŷ 214 źŸ - - ŷŷ 260 - źŷ 4076 źŸ 170 źŸ 300 - Ÿŷ 12.5 ŷ - ŷ 52 ź 410 Ÿ ŷ - ŷ - ŷ 730 Ÿ ŷ 81.0 ź - ŷ - ŷ - ŷ 108 - ŷŷ 154 - ŷŸ - 106 ŷŷ 132 - ŷź - - ŷŷ 2,400 ŷŷ 120 ŷŷ 108 49 - źŷ - - ŷŷ - - ŷŷ 300 ŷŸ 31.0 - ŷŷ -ŷ - 92 ŷź -18.0 ŷź - - ŷŷ -74 ŷŸ - - ŷŷ - - ŷŷ - ŷŷ 124 26.5 540 ŷŷ - ŷŸ 66.0 114.0 22.5 Ÿŷ 39.0 - źŷ - 23.0 ŷŷ 16.5 - ŷŷ 38.5 - źŷ ŷŷ 1,640 158 źŷ - ŷ 106 ŷ - ŷ 71.0 ŷ - ŷ 102 ŷ - ŷ - ŷ 53 ŷ 295 - ŷŷ - - ŷŷ 280 - ŷŷ - ŷŷ 124 - źŷ 124 źŸ 66 Ÿ -- ŷŷ - - ŷŷ - ŷŸ 360 108 - źŷ 228 ź - -ŷ 270 ŷź - źŷ 120 źź 48 100 - Ÿŷ 118 ŸŸ 200 ź - ŷ ŷ 22490 źź - - ŷŷ 1,360 - ŷŸ 30.0 - źŷ - - ŷŷ

Global Index - Food 98 96 ERESCO 860 - 840 Mabani Sharjah Cement 7589 7484 INJAZZAT RE Gulf Cement Inv. Holding Um QuwainGrp Cement 12.064 11.563 Int'L Resorts Fujaira Cement 78 77 Commercial R.E 124 120 Ras AlKheimah 70 65 Sanam R.E. ARIG 54 53 Aa'yan R.E United Gulf Bank Aqar Egypt Kw Holding Kuwait R.E Holding Bahrain Kw Ins. 59 AL Mazaya 60 58.0 Gulf Fin. House 62.0 14.0 Al Dar National R.E 14.0 InovestInt'L Holding -75 -71 Themar Ahli United Bank - 168 Grand R.E Projects - 170 - 45.0 Tijara & R.E Invest -46.5 Ithmaar Bank AlGlobal TameerIndex - Non-Kuwaiti Arkan Al-Kuwait R.E 70 70 Markaz Real Estate Safat Global AlInvestment Argan Int'L Funds 28.5 28.0 Abyaar Al-Bareeq Holding 23.5 - 23.5 Munshaat AFAQ First Dubai 26.0 - 25.5 Al-Shamel KBT 27.0 Al-Safat Real Estate 27.0 Manazel 16.532 15.531 Ajwan Real Estate REAM Specialities Group 475 485 - Mena Real Inter.

Estate - Masaken AlDulaqan MoudonR.E Intl. R.E - - Markaz Real Estate 57 56 Eid Food Kuwait Remal 295 - 285 Maidan ClinicR.E Global Index - Real Estate Flex Dar Al-Thuraya Real E 242 102.0 232 102.0 Nationl Ind. Group Kw Medical Services 128 - 126 Pipes Ind. & Oil Kuwait Amar Cement For Fin. & Leas. 455 - 450 Refrigeration Ind.Market Total Parallel 1,420 1,420 Gulf Cables & Elec.

Heavy & Ship.

Totaleng.

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

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

Last Close Previous Close - Change 216 216 840,000 22 132 176.53122 10 177.24 -0.70105,560 -15 5,754.20 10,000 1 -27.30 3,300 345 3305,726.90 20,000 1 4,640 232 232 Last Prev.

Trading Activity 960,000 18 83,840 88 88 Close Close Chng - Volume 500,000Tran.

21 Value(KD) 620 305,050 620 1,100 1,100 3,796,050 - 1120 1120 69 3,377,500 20 495 495 - 830,000 407,950 216 216 770 770 10,000 1 7,700 - 415 415 640 -20 2 6,400 660 10,000 275 275 800 50 850 350,000 23 282,700 224 Ex-D 224 16 2 248 248 -10 700,000 173,600 20,000 305 315 6,200 460 465 -5-2 500,000 1088 229,750 180 2,940,000 516,040 178 890 -10 880 1,280,000 66 1,127,050 102 102 590 590 607,850 1,035,000 33 128 Ex-D 128 319.37 319.54 8,092,500 6,639,050 0.17-2 500,000 24012 214 216 107,080 44 44 106 106 - - - - 188 188 260 265 -5 250,000 14 65,750 24,320 320,000 4076 1,680,000 -1 2 67,160 4174 13 6 2,223,820 168.14 10,467,500 285 0.87 167.28 170 1,040,000 20 172 -2 177,720 300 110,000 5 33,000 295 5 960 960 7,040,000 12.5 12.5 46 90,920 280 280 1,280,000 22 52 53 -1 67,280 1,790,000 420 737,150 10 41 410 25.0 25.0 52 52 130 130 931,000 10 1,255,000 740 51 730 31.0 31.0 5,000,000 82.0 83.0 53 411,160 1.0230 230 110 110 102 102 340 340 -108 112 73,920 680,000 18 135,240 860,000 156 2.0 158 50 50 -27 108 1,560,000 168,960 108 44.0 44.0 -51 1,100,000 136 147,240 132 52 52 --4 -22 550 550 74 74 - - - - 100,000 2,420 240,550 2,420 28.5 28.5 -19 187,240 1,540,000 122 122 108 1449 54,920 108 - 500,000 58 4958 49.5 15,840 -1 320,000 4 300 300 23 - - 23 - - 330 330 71 - - 71 - - 541,000 1,770,000 290 310 31.0 31.0 58,760 1,840,000 2278 -20 255 255 48.5 - 48.5 - - 260 260 - - 68 68 -Ex-D - 1,305,200 13,920,000 184 94 96 20.5 20.5 - -2 26.0 26.0 - -1 19,520,000 117 359,400 18.5 18.0 244 - 244 - - - 270 270 9475 -1 9474 -47 226,640 3,040,000 - - 5194 5194 - - - 36 36 - - - 154 154 -41 51 51 - 169,440 1,320,000 126 126 26.5 26.5 21 6,360 240,000 10,000 540 5,400 540 75 75 -78 68.0 5,920,000 395,800 66.0 2.0 8.0 120.0 112.0 11,180,000 1,305,280 7,280 23.0 23.0 320,000 212 4 2.039.5 41.5 24 77,080 1,920,000 120 120 19.0 19.0 - 23.5 347 1,977,920 23.5 84,080,000 16.5 5 7,920 16.5 480,000 248 248 39.0 0.5- - 10,640,000 93 419,440 38.5 395 395 29.0 29.0 -16 137,000 1,680 82,500 1,680 160 2.0158 12,680 80,000 4 85 85 255 255 4,280 108 108 40,000 2 114 114 8,560 72.0 72.0 120,000 3 26.00 26.00 2 500 000 257 040 102 102 2,500,000 85 257,040 68 68 340 340 53 200,000 53 10,600 2 300 300 47,900 160,000 - 60 -8 60 168 168 46.5 - - - - 46.5 285 285 277,100 980,000 64 - -18 64 255 255 42.50 - 42.50 - - - 265 265 128 130 -2 1,240,000 38 157,920 128 124 237,160 4.0 40,720,000 1,880,000 55854 76.02 0.1275.90 2,702,550 68 67 286,800 85 1 4,280,000 - - 325 325 - 48.0 48.0 -- - 560 560 - 810 810 -485 485 380 2 7,400 20.0 20,000 360 118 -8 120,000 110 6 13,200 435 435 220 220 Ex-D 228 234 120,000 27,520 6 -6 114 114 - - - 108 Ex-D 108 40.50 40.50 270 275 -5 760,000 209,000 37 43.63 43.43 0.19- 120,000 6 13,200 80 80 124 60,000 7,280 122 13 3,840 49 -1-2 48 80,000 98 92,000 9 100 9998 1 920,000 383,920 124 120 4 105 3,100,000 1,529 744.02 738.56 154,107,500 5.46 9,453,660 12 104,680 200 204 -4 520,000 184 184 37.5 37.5 3,600,000 93 -1 328,920 92 368 224 10.0100,000 22,400 234 136 136 120 120 - 82,500 1,360 112,650 1,340 82 -20 -12 82 340 340 1 30.0 80,000 30.5 0.52,400 580 580 - 108 108 - - 3,682,500 335.13 441,570 3.80 331.33 31,160 -1 320,000 98 97 880 1,656,950 10 1,935,000 850 57 860 80 80 2 8,960 120,000 24 7589 7385 6,360,000 97 552,800 15 9 23,960 11.5 12.0 0.52,000,000 Ex-D 760,000 64 48,480 63 38.0 38.0 91 91 3 18,520 78 77 1 240,000 -8 17,200 3 120 128 140,000 67,400 17 1,000,000 65 70 -5 112 112 4 10,720 54 -1 55 200,000 168 168 90 90 285 285 38.0 38.0 Ex-D 455 455 11 59 26,160 440,000 -4 63 46,000,000 4 2,744,760 58.0 62.0 411 1 80,000 1,120 14.0 14.5 0.5442,520 6,120,000 - -2 -92 9173 9175 2 54,320 170 168 320,000 -10 17.5 17.5 -63 31.0 31.044.0 46.5 10,240,000 469,360 3 59 59 4,329,440 0.33 42.96 69,940,000 685 43.29 -4 320,000 2 22,400 70 74 122 122 48.5 48.5 - - - 124 124 12 0.52,720,000 76,880 28.0 28.5 144 144 1.0- 80,000 1 1,880 23.5 24.5 106 106 0.5240,000 6,160 3 26.0 25.5 250 250 Ex-D 35,040,000 946,080 - 4 27.0 27.0 19.0 19.0 1,200,000 82 1.019,240 16.5 15.5 32 160,000 33 -1 5,040 - -25 -23 134 134 475 500 430,000 205,300 - 134 134 51 51 - - - - 220 220 345 345 -1 240,000 6 13,520 5790 5890 47 610,850 295 290 5 2,110,000 2,260 2,260 0.02- - 53,085,000 - 332 4,151,200 49.73 49.75 39.5 39.5 102.0 232 128 80 450 55 150 1,420 335 212 720 Ÿ 180 Ÿ 104 460 Ÿ

20,000 154 1 102.0 242 -10 13,220,000 128 - 140,000 6 80 470 20 50,000 2 55 150 -26 610,000 1,460 -40 2,500 1 335 491,160,0005,211 212 Close Prev. Close 720 230,000 19 188.52 180 189.11 183.073 106 183.23-2 80,000 460 564.35 562.83

DTD MTD YTD 0.0% 216 180 13.22 216 -0.40% 132 -1.55% -1.55% 0.0% 120 102 124 495 0.0% 315 350 355 -1.50% -0.47% -1.50% 230 2.2% 196 28.80 228 232 Annual Close 79 Last88 Last 89 Div. 0.0% 102 36.02 Bid610 Ask 620 Yield High630 Low550 P/E88.41 0.0% 1,100 3.6% 1,400 1,100 17.40 1,120 3.6% 1,140 1,120 1,100 14.74 490 495 510 490 33.95 222 0.0% 6.9% 216 206 12.38 210 770 780 - 1.9% 790 770 88.62 8.4% 340 9.94 415 640 660 660 640 17.34 300 3.1% 275 5.20 0.0% 300 260 840 850 - 1.6% 850 790 29.68 2.2% 228 224 35.32 246 248 255 248 23.59 305 315 0.0% 3.2% 25.74 325 260 460 465 475 46051 12.26 178 0.0% 0.0% 174 152 880 - 2.3% 900 88093 25.07 870 0.0% 102 590 - 0.0% 580 590 590 112.24 5.5% 128 18.88 128 18.61 214 216 2.0% 0.0% 319.54 210 13.15 222 318.41 0.0% 0.00 102 106 - 0.0% 10651 10641 40.56 192 4.3% 194 8.5% 214 162 16.76 260 265 265 260 12.09 0.0% 4075 4076 0.0% 4288 4070 2.8% 174.76 163.04 13.88 172 168 0.0% 174 170 88.93 295 300 305 295 12.13 960 910 1,000 6.7% 4.4% 1,120 18.02 12.5 13.0 0.0% 13.5 12.5 1.33 0.0% 280 280 51 52 0.0% 54 52 7.1% 415 420 430 340 16.26 0.0% 25.0 25.0 0.00 0.0% 41 0.00 65 0.0% 130 130 8.8% 740 750 900 690 11.15 33.5 0.0% 36.0 31.0 81.0 82.0 0.0% 81.0 45.0 0.0% 230 230 0.0% 110 110 58.86 0.0% 102 102 0.00 330 350 9.3% 0.0% 350 295 106 110 116 108 156 158 3.2% 170 110 20.19 0.0% 50 50 0.00 0.0% 136 102 - 106 - 108 0.0% 44.0 44.0 0.00 132 134 0.0% 132 11.15 0.0% 52 5284 0.00 560 0.0% 550 530 0.0% 74 74 0.00 2,420 2.1% 2,440 0.0% 2,440 1,920 12.63 27.0 29.5 28.5 28.5 0.00 122 0.0% 0.0% 120 132 110 112 10895 0.00 108 0.0% 49 5057 0.0% 5168 4958 295 325 0.0% 8.3% 350 230 22.18 21 24 23 22 320 395 7.6% 340 8.13 - - 0.0% 71 71 0.00 310 0.0% 300 305 3.2% 260 10.59 31.0 32.5 31.5 31.0 - 0.0% 7.1% 260 255 12.82 - 250 48.5 48.5 - 0.0% 260 260 7.7% 4.79 68.0 64.0 68.0 32.31 132 309.80 0.0% - 92 - 94 0.0% 20.5 20.554 - 18.0 - 18.5 0.0% 26.0 26.0 0.00 23.5 14.0 0.0% - 238 244 244 275 0.0% 270 12.91 280 0.0% -75 -76 0.0% 9484 9461 0.00 13.28 6.7% -89 54 - 0.0% 51 5184 116.80 104 0.0% - 0.0% 36 36 0.00 184 154 154 9.95 0.0% 0.0% 51 5191 0.00 126 128 0.0% 120 26.0 26.5 27.0 27.5 530 710 5.0% 520 13.11 540 0.0% 0.0% 75 75 0.00 67.0 78.0 68.0 0.0% 30.0 10.56 99.0 120.0 120.0 118.0 22.5 28.5 16.0 23.5 0.0% 0.0% 19.5 39.0 41.5 120 130 0.0% 0.0% 140 19.0 20.0 19.0 18.0 23.0 23.5 0.0% 0.0% 22.5 0.00 12.0 16.0 16.5 17.0 16.5 238 260 0.0% 40.69 275 198 0.0% 39.0 38.0 38.5 39.0 400 0.0% 380 86.17 0.0% 490 380 0.0% 29.0 0.00 % 29.0 1,680 1,700 15.98 1,740 1,500 4.2% 156 8.28 3.8% 156 160 162 85 87 5.65 0.0% 89 73 255 22.77 255 270 5.1% 104 110 12.52 9.3% 126 86 11.92 114 0.0% 114 72.0 75.0 0.0% 78.0 57.0 26 27 0.0% 28 0 0% 0 00 102 104 0.0% 104 80 0.00 68 43.00 63 73 0.0% 68 340 345 350 12.34 8.8% 270 53 53 52 0.0% 55 280 295 300 315 3.92 3.3% 60 61 0.0% 60 130 6.0% 7.71 176 10.8% 168 47 47 - 47 172 4.6% 280 285 305 10.14 64 0.0% 69 64 21.75 0.0% 265 305 42.5 0.00 - 242 - 250 0.0% 42.5 300 128.0 0.0% 275 0.0% 18.62 265 124.0 128.0 132.0 5.19 128 2.4% 124 124 75.90 70 0.0% 10.01 76.32 68 51 0.0% 72 67 16.97 325 300 325 325 49.0 6.2% 0.0% 62.0 20.90 48.5 44.0 12.90 610 510 560 560 1.9% 770 640 750 4.5% 33.57 9.91 460 500 5.2% 520 485 3.9% 390 12.46 380 385 345 17.37 108 114 118 110 0.0% 485 425 430 9.1% 410 9.97 220 220 2.7% 0.0% 224 230 270 236 296.83 16.77 134 11498 110 4.6% 14.91 114 104 108 0.0% 40.5 43.0 40.5 300 218 8.26 7.4% 270 275 0.0% 12.60 44.80 92 43.43 77 8.8% 6.95 78 82 4.7% 0.0% 156 22.69 124 0.0% 114 116 37.20 49 49 48 48 106 0.0% 0.0% 110 12.83 100 100 9994 99 126 0.0% 120 22.21 128 122 12.2% 791.90 705.36 11.37 202 10.0% 200 17.83 208 200 0.0% - 0.0% 222 182 15.27 37.5 37.5 37.5 0.0% 114 234 22490 16.20 22493 4.5% -92 126 3.7% 136 126 6.02 146 0.0% 130 120 110 130 4.8% 1,500 1,360 1,360 11.38 1,340 6.1% 82 82 5.29 85 345 1.5% 390 44.60 340 0.0% 30.5 30.0 31.5 610 5.2% 500 10.40 530 108 108 15.28 112 118 - 6.5% 4.2% 365.22 331.33 11.40 0.0% 100 96 39.65 95 98 860 840 21.70 860 870 - 0.0% 0.0% 44 95 76 73 76 - 0.0% 71 0.0% 108 55 0.00 12.573 11.543 11.588 12.089 0.0% 10.9% 29.74 38.0 38.0 35.5 37.0 64 65 0.0% 0.0% 122 46 0.0% 78 14.56 77 77 79 87 8.3% 126 10.76 92 118 0.0% 75 65 65 114 0.0% 132 120 102 54 26.32 0.0% 55 53 54 0.0% 232 108 365.94 172 116 0.0% 90 90 91 164 330 250 176 7.0% 6.35 0.0% 38.0 38.0 40.5 0.00 285 295 5.5% 455 455 63 60 0.0% 59 550.96 0.0% 40.5 74.0 14.5 4.15 14.5 14.0 0.0% 13.5 0.0% 9459 5.5% 91 91 9058 7.1% 9.38 17.5 17.5 - 73 0.0% - 71 33.5 31.0 31.0 19.44 30.0 0.0% 168.0 170.0 0.0% 57 0.0% 59 59 4.2% 40.74 47.16 8.68 70 74 0.0% 78 70 11.37 1,220 1,220 0.0% 0.00 48.5 48.5 116 126 0.0% 144 124 5.38 28.0 28.5 - 0.0% 29.0 28.0 27.28 0.0% 25.0 - 0.0% 24.5 23.5 23.5 5.03 4.7% 25.0 25.5 26.0 25.5 13.99 6.0% 240 0.0% 24.5 28.0 0.0% 28.5 27.0 0.0% 17.5 15.532 16.033 0.0% 16.5 15.5 0.0% - 134 130 134 23.07 16.05 5.7% 475 3.7% 32 29 3250 0.0% 32 0.0% 220 0.0% 220 18.82 218 320 0.0% 816.78 57 60 0.00 55 57 - 0.0% 0.0% 8.47 295 270 0.00 290 295 - 0.0% 0.0% 1.1% 49.86 49.73 16.27 42.0 0.0% 22.19

2,040 -3,111,120 17,800 122 22,550 455 150 212,380 3,550 1,420 36,074,640 310 Change 710 165,600 0.60 178 0.16 104 8,480 435 1.53

102.0 232 13085 465 1,440 340 216 DTD 720 0.32% 190 0.09% 108 0.27%

0.0% 0.0% 0.0% 0.0% 2.2% 0.0% 3.3% 0.6% 4.6% 4.72% 3.0% 2.4% 13.9% 5.6% 0.0% 4.3%

232 260 130 128 470 450 158 150 1,460 1,420 340 335 212 222 MTD 710 740 -2.10% 180 180 -3.70% 104 116 460 460 0.85%

70.58 18.38

14.15 6.49 14.65 8.02 193.84 YTD 96.15 -0.23% 10.91 -3.61% 23.15 26.77 0.42%

STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY tuesday, may 1, 2012

April 2009 April21, 30, 2012

1% 6%

1% 6% Oman Qatar

Bahrain

Kuwait

Dubai

Qatar

0%

95 100

BahrainOman

-4%

-1%

Abu Dhabi

-6%

Saudi

Dubai

90

GCC Best Performers

Saudi

95 30-Jan-12 85

29-Feb-12

30-Mar-12

MENA Best Performers

-1%

30-Apr-12

-6%-2

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

1

MENA Indices Highlights Country (Index)

Index Level

% Chg.

YTD

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

Index 7,529

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

2,504 5,250

-0.3% -4.0%

Qa UAUAE Qatar (DSM Index) (ADSM Index)

8,704 2,695

0.2% 0.6%

Ba Qa Bahrain Qatar(BSE (DSMIndex) Index)

1,153 5,590

Jo Jordan (Amman General Index)

1,981

Ku Kuwait (KSE Weighted Index)

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

OmOman UAE(MSM (DFMIndex) Index)

Level 417

1,631 406

5,869 1,745

Eg Egypt (EGX 30 Index)

OmOman (MSM Index)

Ba Bahrain (BSE Index)

M Morocco (Casa All Shares Index)

Eg Egypt (Hermes Egypt Index (HFI))*

Le Lebanon (Beirut SE Index)

Jo Jordan (Amman General Index)

Pa Palestine (Al-Quds Index)

M Morocco (Casa All Shares Index)*

Tu Tunisia (Tunis SE Index)

Le Lebanon (Beirut SE Index)* *Market Closed

Pa Palestine (Al-Quds Index)

4,953

5,478

1,681

10,245

463

1,187

2,825 467

10,621

5,071

1,094 546

Tu Tunisia (Tunis SE Index)* * Market Closed

3,282

52 Wk High

%-0.4% Chg. 0.3%

2.9%

5.1% 0.4%

0.4%

-

2.2%

-0.4%

-0.3%

-

-

0.9% -

396

Mkt. Cap. 392,585 USD million

131

12.82

101,089

90 122

125,512 69,783

11.42 7.29

0.8% -18.8%

1,406 12,627

1,129 4,230

1 196

17,286 65,352

9.04 8.85

2,214

1,921

7

27,275

13.52

63,640

7.67

6,372 5,860

36.7%

5,628

0.7%

12,109

-0.6%

-6.8%

2,903

-7.9%

12,203

8.5%

1,033

0.9%

1,403

2.4%

5,044

-2.0%

513

-3.3%

14,635

23.6%

739

6.6%

5,115

-7.2%

2,119

13.6%

3,418

39 718

5,419 1,433

14 305

3,587

47

4,224

34,346 98,547

18,159 37,413

1,572

10,218

328

-

1,164

-

2,551 465

9,406

-

4,091

1,043

-

2,837

-

407

4

18,727

1.68

1.59

8.07

1.29

3.19

1.56

6.35

33,782

12.71

5

10,013

15.54

2

2,079

1

1.35

15.00

10,570

67

2,505

0.85

2.15

9.14

59,990

1.12

18.36

8,507

3.95

1.77

6.47

0.86

8.67

6,576

MENA Worst Performers

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

TAQAbu Dhabi National Energy Co.

225 Saudi Industrial Inv. Grp.

101 Riyad Bank

114

115

-6.4%

117,940,349 83,959,529

115 Alinma Bank (KSA)

Turnover (USD)

70,150,558

703 Zain - Saudi Arabia (KSA)

343,553,085 64,327,156

201 Industries Corp.

(KSA) 430Saudi Dar AlBasic Arkan Real Estate Dev. Co. (KSA)

119,955,261 61,004,327

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

97,126,838

NBKNational Bank of Kuwait (KUW)

1,472,309,946

Market Cap. (SAR '000)

113

88,742,222

70Zain - Saudi Arabia

S&P GCC Large/Mid Composite

241,246,132

43Dar Al Arkan Real Estate Dev. Co.

30-Apr-12

% Chg.

97.50

7010.SSE Saudi Telecom Co.

3020.SSE Yamama Saudi Cement Co.

1.8%

35.40

1.4%

103.75

1.2%

42.50

1.0%

50.25

Turnover (SAR) 442,311,692 4300.SSE Dar Al Arkan Real Estate Dev. Co. 314,873,422 4220.SSE Emaar the Economic City 263,085,638 1040.SSE Saudi Hollandi Bank

1 Alinma Bank

31-Mar-12

Close

0.5%

Worst Performers

42Emaar the Economic City

29-Feb-12

64,280,166

2050.SSE Savola Group Co.

Highest Turnover

105

95 31-Jan-12

SAR 24.70

-6.8%

Turnover (USD)

MENA Highest Turnover

6,528,550

Turnover (SAR '000)

-2.5% -8.9%

-2.3% -8.6%

422 Emaar the Economic City (KSA)

7,931 / 5,916 3050.SSE Southern Province Cement Co.

Tadawul Index 52 week High / Low

-3.4%

KWD 0.860 SAR 48.00

SAR 13.70

GCC Highest Turnover

0.38

Advance/Decline Ratio

% Chg.

AED 1.15 SAR 22.95

85% 3030.SSE Saudi Cement Co.

% of stocks trading above 1yr avg. price

3.2%

8.0%

AED 1.00 -13.1% -2.9% KWD 0.265

7,529 (-0.4%)

Tadawul Index (% Chg.)

125

3.3% 8.6%

AED 1.21% Chg. -3.2% Close

EMAEmaar Properties (UAE) Best Performers

Summary

5.1% 8.8%

QAR 16.90

KFI Kuwait Finance House (KUW)

Rebased Performance

5.5% 9.8%

8.0%

Close

AHCAamal Co.

0.88 201 PCE Kuwait Portland Cement Co. 1.74 Saudi Basic Industries Corp.

9.50

56,433

OMR 0.720

GCC Worst Performers

1.90 FAC GCCommercial Gulf CementFacilities Co. 1.37 Co. 1.61 ALDALDAR Properties 0.88 238 Rabigh Petrochem.

9.65

15,024

1

1.03 1.77

10.48 6.87

56,964

46

1.99

0.78 1.52

8,071 2,137

QAR 21.60

BKMBankMuscat

PB

11.59 9.99

8,892 5,148

1,301 316

8.54 10.24

KWD 1.300

QGTQatar Gas Transport Co.

PB1.43

-0.8% 12.8%

1,754 787

66,135 264,263

KWD 0.315 QAR 6.35

CABGulf Cable and Electrical Industries Co.

PE 14.22

17 2,183

3.1% 6.6%

-0.4%

Turnover 1,741 USD million

AED 1.85 OMR 0.703

NICNational Industries Co. KCB Al Khaliji Commercial Bank

Trailing

2,293 4,130

0.0% 1.9% 0.7%

52 Wk 5,916 Low

PE

OMR5.60 1.184 SAR

NBQ National Bank of Umm Al Qaiwain GEC Galfar Engineering & Contracting

Trailing

Mkt. Cap. USD million

2,775 10,090

20.5% -0.2%

0.4% 3.9%

467

Turnover USD million

4.2% 9.3%

-0.5% 1.8%

0.3%

52 Wk 7,931 High

17.3% YTD

52 Wk Low

% Chg.

USD 0.180% Chg. 5.9% Close

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

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

Close

4 ITH Ithmaar Bank

Period's Liquidity 1 Ratio (PLR x)

-1

Abu Dhabi

0%

100

105

-2%

Tunisia Abu Dhabi

Abu Dhabi

Kuwait

Palestine Palestine

Return DailyDaily Return (%)(%)

109

0%

0%

Saudi Dubai Dubai

105

110

2%

Qatar Saudi

113

Qatar Oman

111

4%

Morocco

115110

Lebanon Oman

113

Kuwait Kuwait

113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Egypt Jordan Jordan

120115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

228,784,529

20Saudi Basic Industries Corp.

4250.SSE Jabal Omar Development Co.

2380.SSE Rabigh Refining & Petrochemical Co.

Close

% Chg.

11.25

13.10

28.50

21.85

22.60

-2.2%

-1.9% -1.7%

-1.6%

-1.3%

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

Close 78.00

Daily % Chg. -0.3%

High 78.25

Low 77.50

Turnover (SAR '000) 54,682

1 Alinma Bank

14.90

-1.0%

15.10

14.80

314,873

1 Arab National Bank

30.80

-0.7%

31.20

30.40

2,854

2 Almarai Co.

1 Bank AlBilad

1 Bank Al Jazira

66.50

30.00

28.30

-0.8%

-0.7%

-0.7%

67.25

30.20

28.80

66.25

21,387

29.90

17,149 1,695

28.00

6,234

11.20

241,246

68.25

38,494

Volume ('000) 703

220

-0.3%

38.50

38.00

4 Emaar the Economic City

13.10

-1.9%

13.50

12.95

442,312

21.65

139,442

12.00

3,639

302

22.55

28,153

1,239

50.75

10,717

7 Etihad Etisalat Co.

4 Jabal Omar Development Co.

11.25

68.75

-2.2%

0.4%

21.85

-1.6%

12.05

-0.8%

2 Rabigh Refining & Petrochemical Co.

22.60

-1.3%

1 Samba Financial Grp.

51.50

-1.0%

4 Jarir Marketing Co.

4 Kingdom Holding Co.

2 National Industrialization Co.

1 Riyad Bank

160.00 36.00

25.00

0.0% 0.0%

11.55

69.00

22.20

160.75 12.15

36.70

22.90

159.00

2,932

35.80

143,515

0.2%

25.10

24.75

0.1%

184.50

184.00

51.75

7,172 8,636

2 Saudi Arabian Fertilizer Co.

184.50

2 Saudi Basic Industries Corp.

102.50

-0.2%

103.00

102.50

228,785

13.60

-0.7%

13.65

13.55

31,697

24.05

31,979

18.55

2,232

1 Saudi Arabian Mining Co.

3 Saudi Cement Co.

5 Saudi Electricity Co.

33.20

97.50

-0.3%

1.8%

33.60

97.75

32.90

95.75

36,547 24,785

1 Saudi Hollandi Bank

28.50

-1.7%

28.90

28.20

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

21.70

0.0%

21.75

21.50

23,011

-0.8%

17.95

17.65

114,647

34.70

14,289

36.20

3,232

22 Saudi Industrial Investment Grp.

Saudi International Petrochemical Co.

Savola Group Co. 0 3 Southern Province Cement Co. 0 1 SABB 3 Yamama Saudi Cement Co.

2 Yanbu National Petrochemicals Co. 7 Zain - Saudi Arabia

24.40 18.70

17.80 42.50

35.40

103.75

-0.8%

-0.5%

42.50

41.90

42,214

1.2%

103.75

102.25

3,032

0.5%

50.25

49.90

20,997

9.40

263,086

1.4%

-0.6%

52.75

0.0%

9.60

18.95

1.0%

36.30

50.25

24.70

2,497

0.0%

35.40

36.60

53.00 9.70

52.25

22,409

12.2%

71.75

48.41

-7.3%

16.2%

32.90

17.20

33.70

38.30

31.90

9.05

26.60

27.5

2.6

3.2%

34,623,885

11.9

1.8

85.8%

11,135,000

62.2%

50.00

-0.4%

31.0%

28.5%

165.00

105.50

22.90

13.10

50.75

28.90

11.10 7.05

35.10

-4.3%

-3.7%

-4.6%

-3.0%

-8.0%

-29.1%

21.20

-21.8%

42.40

13.7%

78.2%

79.8%

14.9%

36.2%

-11.5%

53.9%

49.1%

40.9% -6.5%

26,180,000 8,490,000

12,150,000

48,125,000

20,307,390 9,600,000

44,655,882

20,067,425

-21.5%

19,797,600

-9.3%

10.5%

-7.6%

46,350,000

24.25

-11.5%

31.2%

20.3%

98.00

55.50

-0.5%

35.4%

73.3%

29.30

21.42

-2.7%

14.8%

12.1%

200.00

165.00

2,227

112.00

87.75

2,329

16.30

56.75

37.50

27.20

12.85

18.55

-7.1%

-7.8%

-8.5%

-16.6% -10.3%

7.3%

4.8%

6.5%

-2.2%

28.4%

-3.8%

3.2%

15.50

-16.4%

2.3%

-3.0%

23.70

-0.3%

-11.0%

15.8%

nmf

17.8 nmf

8.4

nmf

1.5

2.6

2.2

9.8

1.7

1.7

2.4

10.8

49.9

10.7

1.6

1.8

2.1

14,917,500

15.8

5.1

11,311,650

11.2

1.5

10,285,000

21.30

15.55

30,710,000

-1.8%

6,453

21.00

9.1

0.8

5.1

10,980,000

-0.5%

nmf

11.3

-9.3%

10.2%

11.0

1.8

46,125,000

56,665,676

-11.2%

31.3

1.6

1.2

-1.4%

17.75

12.1

1.4

11.9

307,500,000

24.45

nmf

37,500,000

-8.1%

1,063 119

22,350,000

-2.8%

47

1,314

9,000,000

-7.8%

69.00

23.10

88

3.7

12.0%

25.0%

26.90

256

23.2

55.2%

13.85

288

1,101

26,600,000

-18.8%

6.20

210

23.0%

47.5%

6.05

13.60

3,961

3.6

59.4%

51.1%

PB

15.9

46.3%

33,589

18

-8.8%

Trailing PE

117,000,000

67.0%

30.00

6,364

-8.6%

Market Cap. (SAR '000)

1.6%

-11.3%

40.00

561

-8.3%

12 mths

15.75

44

21,299

YTD

-5.7%

93

571

on high

67.25

16.25

320

% Change

Low

82.75

21,104

1 Banque Saudi Fransi

4 Dar Al Arkan Real Estate Dev. Co.

52-Week High

23.5

22.1

1.1

1.8

7,956,667

10.8

1.5

26,700,000

nmf

1.8

42.60

33.00

29

106.75

63.25

419

83.25

47.50

-39.6%

-28.2%

-13.7%

10,175,625

13.8

3.0

5.25

-16.5%

73.0%

38.1%

13,440,000

nmf

3.4

89

426

27,593

35.50

37.00

56.25

11.50

27.82

41.60

25.7%

17.1%

85,000,000

-2.8%

20.6%

60.9%

14,525,000

1.2

1,003 407

-0.2%

14.5

-1.9%

-6.2%

23.3% 18.6%

19.9%

27.3% 6.1%

1.0%

9.9

1.7

15.2

5.9

17,700,000

13.9

36,300,000

12.6

29,671,875

9.3

2.1 2.1

2.6

STOCKS WITH NBK CAPITAL

13

ALWATAN DAILY tuesday, may 1, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,369 (0.5%)

KSE General Index (% Chg.)

120

417 (0.3%)

KSE Weighted Index (% Chg.)

54%

% of stocks trading above 1yr avg. price

4.33

Advance/Decline Ratio

115

Highest Turnover

103

Turnover (KWD) 2,077,400 2,050,920

IFInternational Finance Co.

31-Mar-12

S&P GCC Large/Mid Composite

N National Bank of Kuwait

966,700

A Agility

737,150

931,000

ZA Zain Kuwait

30-Apr-12

3.3%

0.132

3.1%

1.300

3.2%

0.234

2.6%

0.420

2.4%

Worst Performers

B Boubyan Bank

100

29-Feb-12

Tamdeen Real Estate Co.

% Chg.

0.315

28,062,349

Market Cap. (KWD '000)

95 31-Jan-12

National Real Estate Co.

36,248

Turnover (KWD '000)

105

NRE.KSE

467 / 396 AGLTY.KSEAgility

KSE Weighted Index 52 week High / Low

110

CABLE.KSEGulf Cable and Electrical Industries Co.

6,523 / 5,694 TAM.KSE

KSE General Index 52 week High / Low

113

Close NICBM.KSENational Industries Co.

Close

% Chg.

PCEM.KSE Kuwait Portland Cement Co.

0.860

-2.3%

CBK.KSE

0.780

-1.3%

ABK.KSE #N/A

Al Ahli Bank of Kuwait

0.580

Commercial Bank of Kuwait #N/A

#N/A

-1.7%

#N/A

#N/A

#N/A

#N/A

#N/A

KSE Weighted Index

Quotes Company Name

Close

A Agility

0.420

T Al Themar Intl. Holding Co.

0.087

A AREF Energy Holding Co.

0.126

A Al Ahli Bank of Kuwait

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

B Boubyan Petrochemical Co. B Burgan Bank

0.590

0.0%

0.600

0.590

2,077

0.430

438

1.700

1.640

137

0.265

0.265

3

0.0%

0.620

0.0%

0.435

1.680 0.265

0.0% -

0.0%

-1.3%

1.9%

0.0%

0.395

-

IK Ikarus Petroleum Industries Co.

0.188

JAJazeera Airways

0.435

K Kuwait Cement Co.

-

0.124

0.620 -

0.780

0.0%

0.0%

1,031,459

0.0%

672,061

13.3

1.5

-9.4%

162,339

16.4

4.0

142,242

10.0

0.9 2.7

0.0%

37.8

-

0.495

0.285

-20.2%

-16.8%

-4.8%

179,283

nmf

74

-

3

-

0.450

0.0%

0.450

0.450

1.360

1.5%

1.380

1.360

113

0.860

206

0.730

566

1.9%

0.275

0.265

522

1.6%

0.330

0.320

130

0.700

0.055

58

0.019

1.680

-

1.240

0.214

0.138

19,180

0.242

0.096

10

-

0.485

17.0%

-47.2%

-17.0%

-1.3%

-16.1%

-10.9% -22.6% -12.2%

0.0%

6.3% 1.9% 0.0%

-8.5%

0.0%

20.5%

-4.4%

262.5%

0.0%

1.620

1.340

-16.0%

-8.1%

-12.8%

0.660

-42.7%

21.1%

-41.9%

-2.0%

27.9%

41.0%

611,189

29.4

4.2

4.1%

-7.4%

4,614,707

15.2

2.0

290,102

0.350

0.236

400

0.400

0.281

0.0%

0.0%

280,078

23.6

-18.8%

434,387

14.5

-7.4%

N National Industries Grp. Holding

0.224

0.0%

0.226

0.224

503

2,240

0.285

0.192

-21.4%

-13.8%

-20.0%

N National Real Estate Co.

0.132

3.1%

0.136

0.126

56

420

0.168

0.056

-21.4%

3.1%

22.2%

0.216

0.9%

0.216

0.214

107

500

0.226

0.186

0.0%

0.106

169

0.088

71

S Salhia Real Estate Co.

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

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

0.255

-

0.8%

0.248

0.248

0.234

2.6%

0.234

0.234

0.108

0.0%

0.089

0.0%

0.130

-

0.0%

0.740

1.4%

-

-

0.248

2.420

Z Zain Kuwait

-

0.110 0.089 -

2.420

-

0.260

0.285

-

0.144

0.360

560

0.255

0.248

0.200

-18.8% 0.0%

-7.4%

-48.8%

12.1% 0.0%

12.5%

-15.1%

546,723 78,178

0.0%

21,780

-7.4%

-47.9%

nmf

17.7

1.0

-13.3%

87,310

22.8

0.9

88,400

nmf

0.067

-8.2%

15.6%

21.9%

163,298

-2.4%

24.7%

19.8%

1,219,759

1,255

1.880

1.200

0.690

0.7

127,155

0.097 2.480

0.7

nmf

19.2%

800 100

0.8

19.2%

237,600

-11.5%

-

1.4

nmf

0.0%

0.0%

-10.0%

-

0.1

-13.6%

0.0%

-20.6%

-

0.8

-15.0%

0.093

0.216

1.2

-29.2%

0.136

0.270

1.9

1.4

2.3

127,927 88,277

1.2

30.8

25.7

-

1.0

11.4

109,054

1,560 20

931

-

0.340

900

241

0.730

-

20

5

2.400

0.750

-

139

-

1.500

0.0%

286,945

nmf

35.2

0.909

A Qurain Petrochemicals Industries Co.

1.9

76,358

2,120,040

1.145

O Oula Fuel Marketing Co.

20.1

0.8

83

240

132

4.1

nmf

0.0%

910

0.144

10.0

-28.6%

0.0%

967

0.148

105,270

-2.2%

0.0%

1.060

0.0%

0.9

-26.2%

0.720

1.080

0.146

3.7

16.8

0.415

1.000

0.0%

N National Investments Company

1.6

0.610

1,930

6

7.5

120

1.060

0.305

3.1

141,000 86,711

7.4%

0.691

0.315

nmf

18.9%

1.020

3.3%

1.9

-1.7%

713

0.315

nmf

0.236

715

N National Industries Co.

1.0

0.295

775

-

35.5

-10.3%

1.000 -

272,911

1.2

0.120

1.020 -

64,309

-22.6%

0.0% -

992,177

-30.3%

10.6% 0.0%

51,987

1.4

34.3

1,158,558

54

0.033

4.2

nmf

-19.0%

-

0.940

-41.0%

1.000

N National Bank of Kuwait

nmf

-9.5%

110

0.198

-2.3%

M Mena Holding

300,762

1.5

-20.3%

0.420

0.860

M Mabanee Co.

94,500

5.9

0.425

-

0.0%

1.0

233,931

0.552

2,051

0.860

0.0%

0.0%

1.8

0.0%

270

0.290

0.325

0.0%

0.0%

119

0.290

K Kuwait Projects Co. (Holding)

0.0%

0.0%

nmf

0.5

19.3

-29.3%

1.8%

0.270

0.530

88,088

877,679

0.255

0.290

K Kuwait International Bank

0.630

0.0%

-16.3%

-4.9%

0.375

-

0.740

500

0.530

-4.4%

-7.8%

10

0.104

0.0%

0.620

16.3

-13.6%

-

-

0.132

0.0%

439,671

1.300

-

1.260

0.280

PB

0.0%

1.945

-

-

0.0%

0.375

PE

83

0.108

-

0.085

86

-

-

-16.3%

-11.7%

Trailing

Market Cap. (KWD '000)

0.410

0.435

-

0.079

0.580

0.0%

12 mths

0.524

0.440

1.300

0.104

0.657

0.0%

YTD

1,010

0.780

-

-

15

3,465

-

-

on high

0.248

1,320

305

% Change

Low

0.430

160

169

0.610

0.440

High

1,790

48

0.0%

0.730

P Kuwait Portland Cement Co.

3.2%

0.130

-

0.108

K Kuwait Finance House F Kuwait Food Co.

-

0.440

1.300

K KIPCO Asset Management Co.

-

0.580

9

0.295

C Gulf Cable and Electrical Industries Co.

IF International Finance Co.

-

0.580

52-Week

Volume ('000)

737

0.300

-

0.049

IF IFA Hotels & Resorts

0.410

0.0%

0.780

G Gulf Bank

0.420

Turnover (KWD '000)

0.300

C Commercial Bank of Kuwait G Global Investment House

2.4%

Low

-1.7%

0.248

F Commercial Facilities Co.

High

0.580

A Burgan Co. for Well Drilling

C Combined Grp Contracting Co.

Daily % Chg.

-13.3% 0.0%

-38.3%

1.7%

0.0%

-17.8%

62,514

0.0%

-38.3%

3,187,576

21.7

2.1

13.1

1.1

nmf

1.6

15.5

0.7

7.0

3.4

1.5

11.2

1.5

UAE Rebased Performance

Summary

Best Performers 1,631 (-0.5%)

DFM Index (% Chg.)

135

2,504 (-0.3%)

ADSM Index (% Chg.)

59% CBD.DFM Commercial Bank of Dubai 0.40 ADCB.ADS Abu Dhabi Commercial Bank 1,754 / 1,301 EMIRATES Emirates NBD

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

125

DFM Index 52 week High / Low

115

105

Highest Turnover

E Emaar Properties

A ALDAR Properties

95 31-Jan-12

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

31-Mar-12 Abu Dhabi SE

9,375,369

S Sorouh Real Estate Co.

30-Apr-12

0.6%

3.27

0.3%

0.8%

0.4%

Worst Performers Turnover (AED) 40,364,620 TAQA.ADS Abu Dhabi National Energy Co. 36,023,976 GCEM.ADS Gulf Cement Co. 15,992,111 ALDAR.AD ALDAR Properties

A Arabtec Holding

102

3.30

397,606,536

Market Cap. (AED '000)

113

5.1%

2.83

208,518

Turnover (AED '000)

% Chg.

1.85

2.69

2,775 / 2,293 EMAAR.DF Emaar Properties

ADSM Index 52 week High / Low

114

Close NBQ.ADSM National Bank of Umm Al Qaiwain

7,851,517

E Etisalat

UPP.DFM

Close

% Chg.

1.21

-3.2%

1.15

-2.5%

0.45

-2.2%

1.00

Union Properties

0.45

DANA.ADS Dana Gas

-2.9%

-2.2%

Dubai FM

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (AED '000)

A Abu Dhabi Commercial Bank

3.30

0.6%

3.34

3.28

4,076

T Abu Dhabi National Energy Co.

1.21

-3.2%

1.25

1.16

9

A Air Arabia

0.59

-1.8%

0.60

0.59

A Abu Dhabi Islamic Bank

A Abu Dhabi National Hotels A ALDAR Properties A Amlak Finance

A Arabtec Holding

3.18

2.00

1.15 1.02

0.0%

0.0%

2.00

-2.5%

1.16

-

3.41

-0.6%

A Arkan Building Materials Co.

0.94

-

D Dana Gas

0.45

A Aramex

C Commercial Bank of Dubai D Deyaar Development Co. D du

1.80

2.69

-2.2%

D Dubai Islamic Bank

1.97

-1.0%

E Emirates NBD

2.83

3.27

3.20

-

1.00

-2.9%

1.00 -

0.37

1,064

3.16

3,930 5,101 3,339

3.24

36,024

8.62 8.95

7,852 7,601

1.00 -

526

-

62

2.94

-2.0%

2.93

100

U United Arab Bank

3.95

-

* Closing Prices, Turnover and Market Cap. in USD

0.45

-2.2%

2.94

0.45 -

10.3

0.0%

U Union National Bank U Union Properties

2,758,020

2,000,000

-34.8%

9,375

1.20

-20.2%

-31.0%

0.34

4,058

1.12

0.0%

0.9%

-9.1%

0.69

29

0.44

1.14

1.19

-21.7%

-31.0%

-6.9%

-1.7%

T Tamweel

0.57

1.98

-39.4%

-

1.13

S Sorouh Real Estate Co.

1.0

0.71

592

9

0.90

11.5

1.55

-

1.76

0.0%

7,532,250

-

1.79

1.93

0.90

-20.4%

7,519,765

138.5%

5.1%

S Sharjah Islamic Bank

0.8%

-3.0%

114.5%

1.85

N National Bank of Umm Al Qaiwain

-17.1%

0.6%

-6.1%

2,838

-

1.14

-10.4%

1.24

8.70

-

0.8

2.92

3.63

8.72

4.51

5.7

11,886

-

0.1%

N National Bank of Fujairah

18,465,471

40,365

-

8.71

N National Bank of Abu Dhabi

2.90

13.0%

3.35

2.77

91.45

0.76

175

5,697

18.7%

4,697,898

2.87

8.75 9.00

0.4%

1.46

3.55

-

0.88

-

438

1.17

5,458

0.44

990

-

-

-

329 11

9,012

2,895

1,239

4,524 1,676

-

1.96

3.24

0.46

3.63

1.35 2.26

-

1.69

2.67

0.20

2.80

-38.9%

0.67

-33.3%

8.57 6.98

102.00

74.70

4.70

3.00

488

1.02

0.80

4,612

1.49

326 -

5

8,312 34

2,221 -

9.00

2.24

1.46

-12.9%

2.65

11.20 10.75

1.50

-19.8%

-12.8%

904 845

62

-16.9%

1.88

2.41

-

-8.2%

-16.3%

3.30

4.63

0.0%

0.68

11,049 186

7.38

-2.6%

71.4% 9.3%

-3.2%

2.82

-24.6%

4.50

3.28

-12.2%

-9.3%

nmf

1.0

-33.8%

2,970,901

-7.4%

7.4%

1,530,000 2,635,380

5,483,167

0.5

14,445,714

13.2

7,480,196

1.4

0.9

5.9

-3.1%

9,040,000

1.1

6.8

nmf

nmf

7.4

0.4

2.3

1.2

0.8

-0.6%

19,918,350

11.1

0.6

-16.1% -1.1%

68,625,295 27,000,000

11.8 7.2

1.8 1.0

22.4%

15,728,502

821,097 -

33,747,404

2.2%

-3.6%

2,960,000

32.9%

-20.4%

1.7%

-18.3%

7,337,138

8.5%

-12.2%

3,935,785

74.0%

12.5

2,108,970

4.5%

97.3%

nmf

18.1%

-28.1%

7.1%

-20.1%

1,645,000

-4.8%

40.8%

-11.8%

-22.6%

-40.9%

-29.3%

-0.9%

0.67

1.7

-3.7%

-4.0%

0.5

20.0

-11.7%

-9.9%

0.2

5,097,950

0.0%

1.5%

-10.3%

8.0

1.1

0.7

-17.5%

-4.9% 16.5%

6.5

7.3

34.5%

-22.5% -16.3%

-17.4%

0.24

0.0%

27.2%

1.63

0.53

0.0%

-0.9%

3.90

0.50

PB

-0.6%

-24.8%

1.97

-0.7% -0.1%

7

35

PE

25.0%

2.01

8.68 9.00

2.69

Trailing

Market Cap. (AED '000)

-27.7%

1.12

3.29

3.32

12 mths

0.76

1.13

0.3%

1,233

YTD

1.59

0.37

0.0%

on high

13,953

-1.6%

0.46

350

3,406

% Change

Low

15,992

0.37

-1.3%

M Mashreq

-

110

High

1.13

2.69

3.16

G Gulf Cement Co.

1.80

2.00

2.69

1.13

E Etisalat F First Gulf Bank

-

3.48

3.16

0.8%

-2.2%

D Dubai Financial Market

E Emaar Properties

3.18

52-Week

Volume ('000)

8.9%

1.1%

20.2% 9.5%

8.9

nmf

18.8

0.7

1.3

8.8

1.2

8.7

0.9

4,961,000

17.7

2,182,950

8.3

2,966,250

0.5

8.9

1,190,000

12.8

1,511,719

nmf

2.4

0.5

0.5

0.5

4.8

0.7

11.4

2.0

0.6

STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY tuesday, may 1, 2012

QATAR Rebased Performance

Summary

Best Performers 8,704 (0.2%)

DSM Index (% Chg.)

120

Advance/Decline Ratio

Turnover (QAR '000)

110

457,064,381

Market Cap. (QAR '000)

Turnover (QAR) 18,179,675 AHCS.DSMAamal Co. 17,355,892 ERES.DSMEzdan Real Estate Co. 15,997,734 BRES.DSMBarwa Real Estate Co. 14,333,370 QEWS.DSMQatar Electricity & Water Co.

MMasraf Al Rayan IQIndustries Qatar

29-Feb-12

31-Mar-12

V Vodafone Qatar

30-Apr-12

S&P GCC Large/Mid Composite

1.5%

140.10

1.5%

50.90

0.8%

69.70

1.0%

72.00

0.6%

Worst Performers

Q Qatar Telecom

90 31-Jan-12

CBQK.DSMThe Commercial Bank of Qatar

Highest Turnover

101

100

% Chg.

8.63

8,892 / 8,071 QNNS.DSMQatar Navigation 329,082 QIIK.DSM Qatar International Islamic Bank

DSM 52 week High / Low

113

Close

39% VFQS.DSM Vodafone Qatar 1.33 QTEL.DSM Qatar Telecom

% of stocks trading above 1yr avg. price

11,118,362

B Barwa Real Estate Co.

Close

% Chg.

16.90

-3.4%

19.20

-1.0%

27.90

-0.7%

142.20

IQCD.DSM Industries Qatar

-0.6%

146.00

-0.1%

Doha SM

Quotes Company Name A Aamal Co.

Close 16.90

K Al Khalij Commercial Bank

16.40

C The Commercial Bank of Qatar

72.00

E Ezdan Real Estate Co.

19.20

B Barwa Real Estate Co. D Doha Bank

27.90 58.20

Daily % Chg.

High

-3.4%

0.0%

-0.7%

Low

17.31 16.44

16.90

3,996

27.65

11,118

58.00

7,748

16.38

28.10

Turnover (QAR '000)

72.40

71.90

9,702

-1.0%

19.22

19.20

43

0.2%

59.00

IQIndustries Qatar

146.00

-0.1%

146.00

144.50

15,998

Q Qatar Electricity & Water Co.

142.20

-0.6%

145.00

141.00

4,905

50.90

0.8%

50.90

50.60

M Masraf Al Rayan

Q Qatar Gas Transport Co.

Q Qatar International Islamic Bank Q Qatar Islamic Bank

26.75 16.55 77.40

0.2%

0.3% 0.0%

27.00

16.57 77.50

26.60

17,356

16.45

10,175

77.00

4,604

68.70

482

133.40

-0.1%

133.80

133.00

6,730

Q Qatar Telecom

140.10

1.5%

140.60

138.50

18,180

Q Qatar Navigation

69.70

V Vodafone Qatar

8.63

1.0%

1.5%

70.00 8.90

8.50

on high

14.00 16.06

-22.8%

135

85.50

68.00

-15.8%

-14.3%

2

24.97

18.60

-23.1%

27.40

67.00

15.9%

16.47

-11.2%

-5.5%

-10.6%

76.30

-9.3%

-8.2%

-3.9%

18,289,094

-8.9%

-18.5%

7,982,406

11.4

0.8

14.3%

8.4%

7,295,802

nmf

1.1

56.20

45.50

50

141.73

122.73

130

284.77

127.70

9.22

0.9

-4.0%

17

1,659

9.0

-4.8%

22.50

87.50

10,856,577

1.1

nmf

129.50

7

-15.8%

1.6

12.1

50,927,936

148.00

85.30

-6.8%

5,904,000

-17.3%

34

60

-8.9%

PB

19.1

-13.5%

118.80

18.63

-4.5%

9,202,050

9.3

148.50

616

2.1%

Trailing PE

17,816,139

50.00

28.10

Market Cap. (QAR '000)

-1.6%

110

646

-16.1%

12 mths

16.9%

18.01

33.25

-8.9%

YTD

34

133

14,333

% Change

Low

21.90

399

878

Q Qatar National Bank

High

234

558

0.6%

52-Week

Volume ('000)

-13.1% -1.7%

-3.9%

-9.4%

-5.9%

69.00

-20.3%

7.24

-6.4%

-50.8%

-9.2%

12.6%

9.8%

12,029,812

-0.9%

1.9%

-5.7% -3.5%

7.5%

-41.1%

-47.4%

1.8

1.8

10.4

3.3

14,220,000

10.4

4.7

9,166,118

7.8%

9.5

80,300,000

20,062,500

-3.5%

1.3

14.0

11.2

4.7

12.8

1.7

7,704,669

11.5

93,343,907

12.0

24,657,600

2.4

1.7

2.3

9.6

1.2

OMAN Rebased Performance

Summary

Best Performers 5,869 (0.0%)

MSM Index (% Chg.)

120

42% RCCI.MSM Raysut Cement Co.

% of stocks trading above 1yr avg. price

2.00

Advance/Decline Ratio Turnover (OMR '000)

110

OCOI.MSM Oman Cement Co.

6,372 / 5,419 OTEL.MSMOman Telecommunications Co. 5,454 BKMB.MSMBank Muscat

MSM 52 week High / Low

113

Close

6,991,109

Market Cap (OMR '000)

BKDB.MSMBank Dhofar

% Chg.

1.18

5.5%

1.31

0.8%

0.64

1.9%

0.62

0.2%

0.44

0.0%

106

Highest Turnover

100

Worst Performers Turnover (OMR) 698,239 RNSS.MSMRenaissance Services 391,946 NBOB.MSMNational Bank of Oman

B Bank Muscat

R Raysut Cement Co.

301,138

O Oman Cement Co.

90 31-Jan-12

29-Feb-12

31-Mar-12

30-Apr-12

S&P GCC Large/Mid Composite

248,457

R Renaissance Services

195,965

B Bank Dhofar

Close

% Chg.

0.63

-1.1%

0.44

0.0%

0.29

BKDB.MSMBank Dhofar

BKMB.MSMBank Muscat

OTEL.MSMOman Telecommunications Co.

-1.0%

0.62

0.2%

1.31

0.8%

Muscat SM

Quotes Company Name

Close

Daily % Chg.

High

B Bank Dhofar

0.444

N National Bank of Oman

0.292

-1.0%

O Oman Telecommunications Co.

1.308

0.8%

R Renaissance Services

0.630

B Bank Muscat

0.624

O Oman Cement Co.

R Raysut Cement Co.

0.637 1.184

0.0%

Low

0.445

Turnover (OMR '000)

0.441

196

0.291

34

0.2%

0.626

0.622

698

1.9%

0.641

0.627

301

1.166

392

5.5%

-1.1%

0.292 1.310 1.210

0.644

1.305

113

0.617

248

52-Week

Volume ('000)

High

441

% Change

Low

0.549

on high

0.423

-19.1%

0.291

-9.9%

1,118

0.679

0.572

473

0.637

0.416

118

0.324

86

1.425

331

1.184

395

-17.8%

-6.4%

-3.9%

-6.3%

0.0%

47.5%

0.0%

55.8%

-8.2%

0.458

-40.2%

12 mths

-2.4%

-8.1%

1.041 0.711

1.053

YTD

Market Cap. (OMR '000)

323,543

9.0

8.0% 7.9%

15.6%

-39.9%

PB

12.2

1,121,199

17.4%

PE

488,452

-7.0%

-0.1%

Trailing 2.1

9.1

1.3

210,766

15.3

1.5

236,800

15.8

2.3

981,000 177,720

1.2

8.8

2.0

nmf

1.1

BAHRAIN Rebased Performance

Summary

Best Performers 1,153 (0.4%)

BSE Index (% Chg.)

120

Advance/Decline Ratio Turnover (BHD '000)

110

6,516,967

Market Cap. (BHD '000)

Highest Turnover

101

100

Turnover (BHD) 45,082 BATELCO.BBahrain Telecommunications Co. 40,811 BARKA.BS Albaraka Banking Grp.

B Bahrain Telecommunications Co.

30,056

A Ahli United Bank

29-Feb-12 31-Mar-12 S&P GCC Large/Mid Composite

1,758

B Albaraka Banking Grp.

30-Apr-12 Bahrain SE

#N/A

5.9%

0.62

0.8%

0.93

0.0%

0.46

-0.9%

#N/A

#N/A

Worst Performers

IT Ithmaar Bank

90 31-Jan-12

#N/A

% Chg.

0.18

1,406 / 1,129 BARKA.BS Albaraka Banking Grp. 367 BATELCO.BBahrain Telecommunications Co.

BSE 52 week High / Low

113

Close

37% ITHMR.BSE Ithmaar Bank 2.00 AUB.BSE Ahli United Bank

% of stocks trading above 1 yr avg. price

-

A Arab Banking Corp.

AUB.BSE

Ahli United Bank

ABC.BSE

Arab Banking Corp.

ITHMR.BSE Ithmaar Bank

Close

% Chg.

0.46

-0.9%

0.62

0.8%

0.93

0.18

0.42 -

0.0%

5.9%

Quotes Company Name

Close

Daily % Chg.

High

A Ahli United Bank*

0.620

0.8%

A Arab Banking Corp.*

0.420

-

B Albaraka Banking Grp.* B Bahrain Islamic Bank

B Bahrain Telecommunications Co. B BBK

IN Investcorp Bank* IT Ithmaar Bank*

N National Bank of Bahrain U United Gulf Bank

* Closing Prices, Turnover and Market Cap. in USD

0.930 0.088

0.0% -

0.456

-0.9%

797

-

0.400

-

0.180

5.9%

0.260

-

0.545

-

Low

0.620

0.615

-

-

0.930 -

0.930

-

-

-

0.456

-

-

0.185

0.180

-

-

-

-

-

-

5

41

120 -

52-Week

Volume ('000)

80

-

0.456 -

Turnover (BHD '000)

High

% Change

Low

128

0.680

0.599

-

0.530

0.420

-

5

89

1.063

0.116

0.486

0.857 0.082

0.380

0.426

0.390

661

0.180

0.065

-

0.424

0.260

-

-

797

0.600

797

0.545

on high 0.0%

YTD 0.0%

-12.5%

-0.4%

-24.1%

-2.2%

-20.8%

0.0%

12 mths

Market Cap. (BHD '000)

0.0%

3,244,804

-26.3%

1,306,200

-12.5%

-24.1%

-30.0%

637,560

-5.2%

-8.4%

466,171

0.0%

176.9%

-38.7%

-13.3%

80.0%

-36.0%

6.2

10.6

0.0%

-9.2%

8.0

340,542

0.0%

-6.1%

10.3

nmf

16.3% -3.4%

PB

82,691

-6.2%

-6.1%

-5.8%

943,462

Trailing PE

656,640

481,998

216,986

8.3

1.3

0.8

0.4

0.8

1.3

1.4

4.5

0.6

10.1

1.7

nmf

nmf

0.8

1.0

LIFE

Caring for a blister

Blisters form when something presses and rubs on the skin. While you should monitor the area for signs of infection, such as pain or redness, experts say the best way to care for a blister is to leave it alone.

The University of Michigan Health System offers these suggestions: • Avoid popping a blister. But if it is large or a source of constant pain or discomfort, use a sterile needle and carefully drain it.

• Don’t cover the blister unless you have to. If something is rubbing against the area, cover it with a loose bandage, which should be changed regularly.

• If possible, avoid the activity that caused the blister to form.

• Always wash your hands carefully before touching a blister.

TUESDAY, MAY 1, 2012

Strange organism has unique roots in the tree of life NEW YORK: A single-celled organism in Norway has been called “mankind’s furthest relative.” It is so far removed from the organisms we know that researchers claim it belongs to a new base group, called a kingdom, on the tree of life, according to new findings reported on LiveScience.

“We have found an unknown branch of the tree of life that lives in this lake.

It is unique! So far we know of no other group of organisms that descend from closer to the roots of the tree of life than this species,” study researcher Kamran Shalchian-Tabrizi, of the University of Oslo, in Norway, said in a statement.

The organism, a type of protozoan, was found by researchers in a lake near Oslo. Protozoans have been known to science since 1865, but because they are difficult to culture in the lab, researchers haven’t been able to get a grip on their genetic makeup.

They were placed in the protist kingdom on the tree of life mostly based on observations of their size and shape.

In this study, the researchers were able to grow enough of the protozoans, called Collodictyon, in the lab to analyze its genome. They found it doesn’t genetically fit into any of the previously discovered kingdoms of life. It’s an organism with membrane-bound internal structures, called a eukaryote, but genetically it isn’t an animal, plant, fungi, algae or protist (the five main groups of eukayotes).

“The microorganism is among the oldest currently living eukaryote organism we know of. It evolved around one billion years ago, plus or minus a few hundred million years. It gives us a better understanding of what early life on Earth looked like,” Shalchian-Tabrizi said.

Mix of features

What it looked like was small. The organism the researchers found is about 30 to 50 micrometers (about the width of a human hair)

Genetic analyses of a micro-organism that lives in the sludge of a lake in As, 30 km south of Oslo in Norway, are providing researchers with insights into what the first life on Earth looked like. (Agencies)

long. It eats algae and doesn’t like to live in groups. It is also unique because instead of one or two flagella (cellular tails that help organisms move) it has four.

The organism also has unique characteristics usually associated with protists and amoebas, two different eukaryotic kingdoms. This left researchers wondering where the microorganism fits into the tree of life. They analyzed its genetic code to see how similar it is to organisms that have already been genetically cat-

alogued.

“We are surprised,” said study researcher Dag Klaveness, also of the University of Oslo, because the species is unique. They compared its genome with those in hundreds of databases around the world, with little luck. In all that looking they “have only found a partial match with a gene sequence in Tibet.”

New life

The researchers think this organism be-

Boy spends record time with artificial heart LONDON: Three year old Joe Skerratt is now a picture of health, but he was kept alive for 251 days by an artificial heart - longer than any other child in the UK according to a press release.

Joe underwent a successful heart transplant at Great Ormond Street Hospital (GOSH) last year after being diagnosed with dilated cardiomyopathy (DCM) soon after birth.

The condition, which causes the left and also sometimes the right hand side of the heart to stretch, left Joe’s heart muscle weak and unable to pump blood efficiently around his body.

Joe spent nine months in hospital attached to a device called the ‘Berlin heart’, a 15 kilogram machine the size of a small chest freezer, which supports the work of the heart and acts as a life-saving bridging device for children awaiting a transplant.

His parents, Mark and Rachel, have spoken for the first time to urge families to discuss organ donation and to join the NHS organ donor register.

Rachel said: “We are eternally grateful to the donor family. We cannot imagine what they went through.

Their generosity of thought at such a horrendous time is completely selfless and amazing.

Professor Dag Klaveness has spent the last 40 years specializing in breeding microorganisms. Large quantities are required to analyze the genes. (Agencies)

“Organ donation is a topic everyone should discuss. It is not just those with conditions present from birth who end up needing transplants. Some children, like Joe, will become very sick, very quickly.

“We would also like to thank all of the staff at Great Ormond Street Hospital for what they have done for Joe, but especially his consultant, Dr Alessandro Giardini, and the nurses on Ladybird Ward.”

Dr Giardini, consultant pediatric cardiologist at GOSH said: “We are really delighted to see Joe doing so well and thriving at home. He spent a long time with us in hospital.

“Joe was very lucky to be able to have a heart transplant. There is a chronic shortage of donor organs for children in the UK and at any one time we have several children in the hospital awaiting a transplant. Lots of children wait years for an organ to become available and can very sadly die while they are doing so.”

GOSH is the largest centre for cardiothoracic transplantation in the UK, and one of the largest in Europe.

Later this year, the hospital will open the Wolfson Heart and Lung Centre, part of the Morgan Stanley Clinical Building. The new centre will contain state of the art inpatient, daycare and operating facilities.

longs in a new group on the tree of life. Researchers can’t say for certain if other organisms previously classified as protozoans are in this same branch without their genetic information. Its closest known genetic relative is the protist Diphylleia, though other organisms that haven’t been analyzed genetically may be closer relatives.

“It is conceivable that only a few other species exist in this family branch of the tree of life, which has survived all the many hun-

dreds of millions of years since the eukaryote species appeared on Earth for the first time,” Klaveness said.

Because it has features of two separate kingdoms of life, the researchers think that the ancestors of this group might be the organisms that gave rise to these other kingdoms, the amoeba and the protist, as well. If that’s true, they would be some of the oldest eukaryotes, giving rise to all other eukaryotes, including humans.

Teen drug abuse linked to ‘impulsive’ brains NEW YORK: A brain network associated with impulsivity is linked to teen drug abuse, new research finds according to LiveScience.

Teens with diminished activity in a neural network in the front part of the brain are more likely to experiment with drugs, cigarettes and alcohol in early adolescence, the researchers found. Interestingly, this network is not the same one that is linked to the impulsivity of teens with attention deficit/hyperactivity disorder (ADHD). That could mean that ADHD is not as much of a risk factor for drug abuse as researchers have worried.

“The take-home message is that impulsivity can be decomposed, broken down into different brain regions,” study researcher Hugh Garavan of the University of Vermont said in a statement, “and the functioning of one region is related to ADHD symptoms, while the functioning of other regions is related to drug use.”

Garavan and his colleagues scanned

the brains of 1,896 14-year-olds as part of a large international project called IMAGEN. Using functional magnetic resonance imaging (fMRI), they identified parts of the brain that were linked into networks by determining which areas became more active at the same time as one another. During the scans, the teens did a task that involved pressing a button and then having to keep themselves from pressing that button at a certain cue. This task requires the brain to inhibit behavior.

The researchers found that a quiet orbitofrontal cortex, the part of the brain tucked behind the eyes, was linked to more experimentation with substances, and that the diminished activity likely contributed to this experimentation rather than being a cause of it.

“The differences in these networks seem to precede drug use,” Garavan said.

Without an active orbitofrontal cortex network, the teens are more impul-

sive, said study co-author Robert Whelan, also of the University of Vermont.

When given the opportunity to smoke, drink or try drugs, the 14-yearold with a less functional impulse-regulating network will be more likely to say, “yeah, gimme, gimme, gimme!” Garavan said.

ADHD is also marked by poor impulse control, but the researchers found that the poor inhibitory control in ADHD teens was regulated by a different control network. That finding adds nuance to concerns over the risk of drug use in ADHD teens, the researchers report Sunday (April 29) in the journal Nature Neuroscience. Early educational intervention can help boost inhibitory skills, dampening impulsivity, the researchers added.

“The efficacy of these interventions may be related to the extent to which they engage the appropriate brain regions,” the wrote.

Anxiety, depression often go hand-in-hand with arthritis

CONNECTICUT: Depression or anxiety affect one-third of Americans with arthritis who are aged 45 or older, a new study shows according to HealthDay News.

Researchers from the US Centers for Disease Control and Prevention also found that even though anxiety is nearly twice as common as depression among people with arthritis, doctors tend to focus more on depression in these patients.

The study included nearly 1,800 people with arthritis or other rheumatic conditions who took part in the CDC’s Arthritis Conditions and Health Effects Survey.

Among the study participants, 31 percent reported anxiety and 18 percent reported depression.

One-third of the patients reported at least one of the two conditions and 84 percent of those with depression also had anxiety. Only half of those with anxiety or depression sought mental health treatment in the previous year, according to the study, which was published in the April 30 issue of the journal Arthritis Care & Research.

“Given their high prevalence and the effective treatment options that are available, we suggest that all people with arthritis be screened for anxiety and depression,” study leader Dr. Louise Murphy, of the Arthritis Program at the CDC, said in a journal news release.

“With so many arthritis patients not seeking mental health treatment, health care providers are missing an intervention opportunity that could improve the quality of life for those with arthritis,” she added.

In the United States, 27 million people age 25 and older have osteoarthritis, and 1.3 million adults have rheumatoid arthritis, according to the American College of Rheumatology.

This amazing panorama depicts the site of ALMA, the Atacama Large Millimeter/submillimeter Array, in the Chilean Andes. When ALMA is complete, it will have 54 of the 12-meter-diameter dishes shown. Above the array, the arc of the Milky Way glistens while the moon bathes the scene in an eerie light. European Southern Observatory Ambassador Stéphane Guisard took the shot. (AFP)

Quantum entanglement can reach into the past: Study NEW YORK: Spooky quantum entanglement just got spookier. Entanglement is a weird state where two particles remain intimately connected, even when separated over vast distances, like two die that must always show the same numbers when rolled. For the first time, scientists have entangled particles after they’ve been measured and may no longer even exist according to LiveScience.

If that sounds baffling, even the researchers agree it’s a bit “radical,” in a paper reporting the experiment published in the journal Nature Physics.

“Whether these two particles are entangled or separable has been decided after they have been measured,” write the researchers, led by Xiao-song Ma of the Institute for Quantum Optics and Quantum Information at the University of Vienna.

Essentially, the scientists showed that future actions may influence past events, at least when it comes to the messy, mind-bending world of quantum physics.

In the quantum world, things behave differently than they do in the real, macroscopic world we can see and

touch around us. In fact, when quantum entanglement was first predicted by the theory of quantum mechanics, Albert Einstein expressed his distaste for the idea, calling it “spooky action at a distance.”

The researchers, taking entanglement a step further than ever before, started with two sets of light particles, called photons.

Both pairs of photons are entangled, so that the two particles in the first set are entangled with each other, and the two particles in the second set are entangled with each other. Then, one photon from each pair is sent to a person named Victor. Of the two particles that are left behind, one goes to Bob, and the other goes to Alice.

But now, Victor has control over Alice and Bob’s particles. If he decides to entangle the two photons he has, then Alice and Bob’s photons, each entangled with one of Victor’s, also become entangled with each other. And Victor can choose to take this action at any time, even after Bob and Alice may have measured, changed or destroyed their photons.

“The fantastic new thing is that this decision to en-

tangle two photons can be done at a much later time,” said research co-author Anton Zeilinger, also of the University of Vienna. “They may no longer exist.”

Such an experiment had first been predicted by physicist Asher Peres in 2000, but had not been realized until now.

“The way you entangle them is to send them onto a half-silvered mirror,” Zeilinger told LiveScience. “It reflects half of the photons, and transmits half. If you send two photons, one to the right and one to the left, then each of the two photons have forgotten where they come from. They lose their identities and become entangled.”

Zeilinger said the technique could one day be used to communicate between superfast quantum computers, which rely on entanglement to store information. Such a machine has not yet been created, but experiments like this are a step toward that goal, the researchers say.

“The idea is to create two particle pairs, send one to one computer, the other to another,” Zeilinger said.”Then if these two photons are entangled, the computers could use them to exchange information.”

16

ALWATAN DAILY

CULTURE

tuesDAY, may 1, 2012

As waistlines expand, costs soar NEW YORK: US hospitals are ripping out wall-mounted toilets and replacing them with floor models to better support obese patients. The Federal Transit Administration wants buses to be tested for the impact of heavier riders on steering and braking. Cars are burning nearly a billion gallons of gasoline more a year than if passengers weighed what they did in 1960.

The nation’s rising rate of obesity has been well-chronicled. But businesses, governments and individuals are only now coming to grips with the costs of those extra pounds, many of which are even greater than believed only a few years ago: The additional medical spending due to obesity is double previous estimates and exceeds even those of smoking, a new study shows.

Many of those costs have dollar signs in front of them, such as the higher health insurance premiums everyone pays to cover those extra medical costs. Other changes, often cost-neutral, are coming to the built environment in the form of wider seats in public places from sports stadiums to bus stops.

The startling economic costs of obesity, often borne by the non-obese, could become the epidemic’s second-hand smoke. Only when scientists discovered that nonsmokers were developing lung cancer and other diseases from breathing smoke-filled air did policymakers get serious about fighting the habit, in particular by establishing nonsmoking zones. The costs that smoking added to Medicaid also spurred action. Now, as economists put a price tag on sky-high body mass indexes (BMIs), policymakers as well as the private sector are mobilizing to find solutions to the obesity epidemic.

“As committee chairmen, Cabinet secretaries, the head of Medicare and health officials see these really high costs, they are more interested in knowing, ‘what policy knob can I turn to stop this hemorrhage?’” said Michael O’Grady of the National Opinion Research Center, co-author of a new report for the Campaign to End Obesity, which brings together representatives from business, academia and the public health community to work with policymakers on the issue.

The US health care reform law of 2010 allows employers to charge obese workers 30 percent to 50 percent more for health insurance if they decline to participate in a qualified wellness program. The law also includes carrots and celery sticks, so to speak, to persuade Medicare and Medicaid enrollees to see a primary care physician about losing weight, and funds community demonstration programs for weight loss.

Such measures do not sit well with all obese Americans.

Advocacy groups formed to “end size discrimination” argue that it is possible to be healthy “at every size,” taking issue with the findings that obesity necessarily comes with added medical costs.

The reason for denominating the costs of obesity in dollars is not to stigmatize plus-size Americans even further.

Rather, the goal is to allow public health officials as well as employers to break out their calculators and see whether

Living Large, But Not Dying Young

A regular sized wheelchair (L) is pictured alongside an oversized one in the children’s and women’s maternity ward at the University of Alabama Hospital in Birmingham, Alabama, April 26, 2012. (Reuters)

programs to prevent or reverse obesity are worth it.

Lost Productivity

The percentage of Americans who are obese (with a BMI of 30 or higher) has tripled since 1960, to 34 percent, while the incidence of extreme or “morbid” obesity (BMI above 40) has risen sixfold, to 6 percent. The percentage of overweight Americans (BMI of 25 to 29.9) has held steady: It was 34 percent in 2008 and 32 percent in 1961. What seems to have happened is that for every healthy-weight person who “graduated” into overweight, an overweight person graduated into obesity.

Because obesity raises the risk of a host of medical conditions, from heart disease to chronic pain, the obese are absent from work more often than people of healthy weight. The most obese men take 5.9 more sick days a year; the most obese women, 9.4 days more. Obesity-related absenteeism costs employers as much as $6.4 billion a year, health economists led by Eric Finkelstein of Duke University calculated.

Even when poor health doesn’t keep obese workers home, it can cut into productivity, as they grapple with pain or shortness of breath or other obstacles to working all-out.

Such obesity-related “presenteeism,” said Finkelstein, is also expensive. The very obese lose one month of productive work per year, costing employers an average of $3,792 per very obese male worker and $3,037 per female. Total

Australia billionaire to launch ‘unsinkable’ Titanic

FILE - A general view of the dock in East Belfast where the Titanic was built. Jan. 17, 2012. (Reuters)

CANBERRA: An Australian billionaire announced plans on Monday to build an “unsinkable” version of the Titanic, 100 years after the original sank after hitting an iceberg. Titanic II is expected to make its maiden voyage from England to North America, the old Titanic route, in late 2016.

“It is going to be designed so it won’t sink,” mining and tourism tycoon Clive Palmer told reporters. “It will be designed as a modern ship with all the technology to ensure that doesn’t happen.”

The original Titanic, the largest liner in world when

it was launched and dubbed “virtually unsinkable” at the time, sank after hitting an iceberg on April 15, 1912, killing 1,517 passengers and crew.

Palmer said his new shipping company, Blue Star Line Pty Ltd, had signed a memorandum of understanding with the Chinese state-owned company CSC Jinling Shipyard to build Titanic II. The original ship was operated by the White Star Line.

The design work had started for the new Titanic, which will have the same dimension as its old version with 840 rooms and nine decks. -Reuters

Finnish fashion wins at Hyères

PARIS: The top fashion design prize of the 27th Hyères International Fashion Festival, held in the south of France (April 27-30), was awarded Sunday to a trio of Finnish designers: Elina Laitinen, Siiri Raasakka and Tiia Siren.

After the ten finalist designers presented their collections in a runway show, the international jury, headed by Japanese designer Yohji Yamamoto, chose to single out the menswear collection from the young Finnish team for its use of color and futuristic styling.

The festival provided the opportunity for ten upcoming designers to present their collections to professionals from the fashion industry as well

Cawley, or 20.6 percent of US health care expenditures.

That is double recent estimates, reflecting more precise methodology. The new analysis corrected for people’s tendency to low-ball their weight, for instance, and compared obesity with non-obesity (healthy weight and overweight) rather than just to healthy weight. Because the merely overweight do not incur many additional medical costs, grouping the overweight with the obese underestimates the costs of obesity.

as to members of the public.

While the most prestigious prize of the festival, worth €15,000, was handed out to the three young Finnish designers, Canadian designer Steven Tai won the inaugural Chloé prize (also worth €15,000) for his womens wear collection, while Ragne Kikas of Estonia took the Première Vision prize (worth €10,000) and the public vote for his womens wear collection.

The Hyères International Fashion and Photography Festival is an occasion for rising talents in these two areas to present their work and has in the past awarded designers such as Viktor & Rolf and Felipe Oliveira Baptista. -AFP

annual cost of presenteeism due to obesity: $30 billion.

Decreased productivity can reduce wages, as employers penalize less productive workers. Obesity hits workers’ pocketbooks indirectly, too: Numerous studies have shown that the obese are less likely to be hired and promoted than their svelte peers are. Women in particular bear the brunt of that, earning about 11 percent less than women of healthy weight, health economist John Cawley of Cornell University found. At the average weekly US wage of $669 in 2010, that’s a $76 weekly obesity tax.

More Doctors, More Pills

The medical costs of obesity have long been the focus of health economists. A just-published analysis finds that it raises those costs more than thought.

Obese men rack up an additional $1,152 a year in medical spending, especially for hospitalizations and prescription drugs, Cawley and Chad Meyerhoefer of Lehigh University reported in January in the Journal of Health Economics.

Obese women account for an extra $3,613 a year. Using data from 9,852 men (average BMI: 28) and 13,837 women (average BMI: 27) ages 20 to 64, among whom 28 percent were obese, the researchers found even higher costs among the uninsured: annual medical spending for an obese person was $3,271 compared with $512 for the non-obese.

Nationally, that comes to $190 billion a year in additional medical spending as a result of obesity, calculated

For years researchers suspected that the higher medical costs of obesity might be offset by the possibility that the obese would die young, and thus never rack up spending for nursing homes, Alzheimer’s care, and other pricey items.

That’s what happens to smokers. While they do incur higher medical costs than nonsmokers in any given year, their lifetime drain on public and private dollars is less because they die sooner.

“Smokers die early enough that they save Social Security, private pensions, and Medicare” trillions of dollars, said Duke’s Finkelstein. “But mortality isn’t that much higher among the obese.”

Beta blockers for heart disease, diabetes drugs, and other treatments are keeping the obese alive longer, with the result that they incur astronomically high medical expenses in old age just like their slimmer peers.

Some costs of obesity reflect basic physics. It requires twice as much energy to move 250 pounds than 125 pounds.

As a result, a vehicle burns more gasoline carrying heavier passengers than lighter ones.

“Growing obesity rates increase fuel consumption,” said engineer Sheldon Jacobson of the University of Illinois. How much? An additional 938 million gallons of gasoline each year due to overweight and obesity in the United States, or 0.8 percent, he calculated. That’s $4 billion extra.

Hospitals, too, are adapting to larger patients. The University of Alabama at Birmingham’s hospital, the nation’s fourth largest, has widened doors, replaced wall-mounted toilets with floor models able to hold 250 pounds or more, and bought plus-size wheelchairs (twice the price of regulars) as well as mini-cranes to hoist obese patients out of bed.

The additional spending due to obesity doesn’t fall into a black hole, of course. It contributes to overall economic activity and thus to gross domestic product. But not all spending is created equal.

“Yes, a heart attack will generate economic activity, since the surgeon and hospital get paid, but not in a good way,” said Murray Ross, vice president of Kaiser Permanente’s Institute for Health Policy. “If we avoided that heart attack we could have put the money to better use, such as in education or investments in clean energy.”

The books on obesity remain open. The latest entry: An obese man is 64 percent less likely to be arrested for a crime than a healthy man. Researchers have yet to run the numbers on what that might save. -Reuters

Artist Lucian Freud leaves $156 million in will LONDON: Portrait painter Lucian Freud left a record 96 million pounds ($156 million) in his will, the largest sum bequeathed by a British artist, the Mail on Sunday newspaper reported.

Freud died in July last year aged 88, by which time his uncompromising, fleshy portraits had made him one of the world’s most revered and coveted artists, whose subjects ranged from England’s Queen Elizabeth II to the supermodel Kate Moss.

His “Benefits Supervisor Sleeping”, a 1995 portrait of an obese woman asleep in the nude on a sofa, fetched $33.6 million at Christie’s in 2008, an auction record for a living artist.

Freud left 2.5 million pounds and a house, the paper said, to his long-term assistant, David Dawson, who is pictured in Freud’s last unfinished work “Portrait of the Hound”, which also featured the artist’s pet whippet Eli. Representatives of Freud in Britain and the United States were not immediately available for comment on Sunday.

The remainder of the estate was left to his lawyer Diana Rawstron and one of his daughters, Rose Pearce, who

FILE - Impressionist art expert David Norman holds artist Lucian Freud’s ‘’Self Portrait’’ at Sotheby’s before its preview exhibition of highlights from its upcoming London sale of Impressionist Modern and Contemporary art in New York Jan. 10, 2011. (Reuters)

are identified as trustees in Freud’s will and are instructed to dispose of his personal possessions in line with wishes expressed during the artist’s life, the newspaper reported.

Freud, the grandson of psychoanalyst Sigmund Freud, married twice and had several children, although he was widely believed to have fathered many more than he acknowledged. -Reuters

Paraguayan women finding a new place in the country’s politics ASUNCION: Women in Paraguay have held a significant place in the country’s history since independence was won 200 years ago but their political role has been low-key at best. Currently, women are at last breaking into the political scene and a female candidate has been nominated for the presidential elections in 2013.

It is not the first time that a woman is running. In 2008 Blanca Ovelar sought the presidency on the Colorado Party ticket but current President Fernando Lugo defeated her.

Now, the former Public Office minister Lilian Soto has teamed up with Magui Balbuena of the National Rural and Working Woman’s Indigenous Coordinating Group to run for the presidency and vice presidency.

Soto told the German Press Agency, dpa, that her candidacy was a real one unlike Ovelar’s run in 2008. “Blanca Ovelar’s (attempt) was mere opportunism on the part of the Colorado Party, which saw that women’s affairs were a core issue and nominated her as candidate.

This time round, it is a logical and natural process that has to do with women’s own autonomous organization,” Soto said.

Women comprise 52 per cent of Paraguay’s population of about 6.5 million.

Since the Triple Alliance War (1865-1870) against Argentina, Brazil and Uruguay women in Paraguay have had a key role in the country’s successive reconstructions.

But men invariably wielded the political power. Starting in 1989 a movement to ensure gender equality began to take important steps. In 1992 when the new constitution was created, legislators amended many earlier laws that had been discriminatory to women, including one that did not allow them to administer their own assets.

The civil, labor, criminal and election codes were reformed aiming to ensure equal opportunities for both sexes.

Currently, women are taking part in 5,000 different social movements involved in activism in the fight for land, education, health, rural farmers groups and artisans groups.

“The idea is to take over positions, and at least to reach the average figures of women’s political participation,”Soto said, adding that the Latin American average is 22 per cent. She said that in Paraguay the rate for women in the executive branch is 20 per cent and in the legislative branch barely 13.6 per cent.

Many women have joined the nascent Kuna Pyrenda leftist movement whose indigenous language name means “Women’s Platform,” Soto said that the group seeks to vindicate women’s role in politics, but that it is “not just for women, but for all of society.”

The Kuna Pyrenda alliance, made up of many organizations, is similar to the Guasu Front that took Lugo to power.

Soto said that it might be possible in the

future to join with the Guasu Front and choose a single candidate backed by a broader coalition.

According to Soto, women aim to change Paraguay’s agro-exporting economic model since it only serves to bring wealth to small groups. She believes the country needs to foster industrial development and reform the tax system with direct levies to increase revenue and bring about true development.

Soto said that women in Paraguay have worked a great deal in areas such as education and health, and to bring services to the people “as a right, not as merchandise.”

Even though she stepped down from her minister’s post in the Lugo cabinet and joined another political group, Soto does not consider herself as an oppositionist “in the least,” she said.

Soto said that she worked alongside the president for three-and-a-half years and only wishes that Lugo may complete his term adequately. She is certain that by the end of it “the plusses will outnumber the minuses.” About the chances that a woman might win the presidential elections set for April 21, 2013r and make history in Paraguay, Soto shows caution.

“Kuna Pyrenda does claim to be able to see what the future will bring if we do not know it. Let’s wait and see what will happen from now until November,” which is the deadline for electoral alliances and agreements, she said. -dpa

ALWATAN DAILY

entertainment Song Of The Day

Fahad AlSabah Staff Writer

Song: Idle Talk Artist: iamamiwhoami Album: Idle Talk - Single Genre: Alternative In short: iamamiwhoami have come a long way since their viral campaign back in 2009/2010, and an official album is finally due for release in June. “Idle Talk” is the latest of the videos released prior to the album to build momentum; the song is their most radio-friendly one of all their releases, but it still holds onto the roots of this new era and sound.

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

The Buzz Think Like A Man tops North America box office The romantic comedy “Think Like A Man” topped the North American box office for the second weekend in a row, industry estimates showed Sunday. The ensemble date movie based on the best-selling book by actor and radio talk show host Steve Harvey made $18 million in its second week despite mediocre reviews, according to Exhibitor Relations.

That brings its two-week total to $60.9 million, the box office tracker said. In second place was “The Pirates! Band of Misfits,” a children’s stop-motion animated film from the studio that produced the “Wallace and Gromit” series that earned $11.4 million in its opening weekend. Next came another date movie, the tearjerker drama “The Lucky One,” an adaptation of a Nicholas Sparks book starring Zac Efron as a US soldier back from Iraq. The movie made $11.3 million in its second weekend. Smash action hit “The Hunger Games” fell to the fourth spot in its sixth week on the big screen.

The movie, starring Jennifer Lawrence, earning $11.3 million but has raked in $372.5 million total since its opening.

“The Five-Year Engagement,” starring Emily Blunt and Jason Segel, opened in fifth place, pulling in $11.15 million. -AFP

Jack White knocks Adele off top of UK album charts Former White Stripes frontman Jack White’s debut solo album ‘Blunderbuss’ knocked Adele’s ‘21’ off the top of Britain’s charts on Sunday, and Carly Rae Jepsen managed to keep a new single from Calvin Harris from the No. 1 spot.

Soul singer-songwriter Adele’s album has been a fixture near the top of Britain’s charts for more than a year, and US magazine Time recently named her among the world’s 100 most influential people in 2011 - an accolade not received by Britain’s prime minister, David Cameron. However, she lost the top spot this week to the blues-influenced ‘Blunderbuss’ by Jack White, who found fame with the White Stripes until the band split in February 2011, the Official Charts Company said. -Reuters

TUESDAY, MAY 1, 2012

Murdochs face tough week over scandal LONDON: Rupert Murdoch’s tetchy and uncompromising appearance at a British inquiry into phone hacking could come back to haunt him this week when politicians give their verdict on the scandal at his defunct News of the World newspaper. Three days of grilling at the Leveson judicial press inquiry last week extracted few new facts from Rupert and his son James as the 81-year-old casually threw out insults at politicians and described himself as a victim of a corporate cover-up. That appearance will only increase pressure on a powerful parliamentary committee to be harsh in its verdict on the scandal, putting Murdoch’s News Corp further on the defensive. “The timing of the select committee report, following the week we’ve just had at Leveson, is crucial,” a person familiar with the thinking and mechanics of the committee, told Reuters. “Anyone putting their name to an amendment that supports Rupert and James, or dilutes the criticism of Rupert and James, would look very different now than they would have done a week ago.”

Another person familiar with the situation said the report had become much more critical in recent months.

The committee will meet on Monday to vote and agree the final wording for the report, which had originally been expected late last year. It will be published on Tuesday.

Murdoch shut the 168-year-old News of the World in July after journalists and inves-

News Corp chief Rupert Murdoch, (right) his wife Wendi Deng (center) and son Lachlan (left) leave their London home on April 26, 2012, as Rupert Murdoch prepares to give evidence for the second day at the Leveson Inquiry. (AFP)

tigators admitted hacking the phones of ordinary people, crime victims and politicians to gather exclusive and salacious news.

Influence

The evidence from the Leveson inquiry could particularly increase the pressure on

members of the committee from Prime Minister David Cameron’s Conservative party, traditionally seen as close to the world’s most powerful media tycoon.

The release of emails between James Murdoch and his top London lobbyist suggesting possible influence over the government led to

Beach Boys put past differences aside for reunion BURBANK: A “miracle.” That’s the word Al Jardine not-so-jokingly uses to describe the latest Beach Boys reunion - this one consisting of himself and fellow founding Beach Boys Brian Wilson and Mike Love, as well as longtime players Bruce Johnston and David Marks.After decades of prolonged separations, legal spats and near reunions, the core Beach Boys are back together, both on stage and for an upcoming new album. Their rebirth, which became a reality earlier this year when the group performed “Good Vibrations” with Maroon 5 and Foster the People at the Grammys, has reawakened musical memories for 69-year-old Jardine.

“When I’m rehearsing over there, I’m hearing stuff I haven’t performed for many years,” Jardine said during a recent break from rehearsals for the iconic band’s 50th anniversary tour, which kicked off last week in Tucson, Ariz. “It’s wonderful to rediscover the music that way.When you’re recording three albums a year, as we did in the early days, it’s yesterday’s news,” he said. “You’re on to the next thing. Boom. That stuff gets parked somewhere though, and now it’s becoming unveiled again.”

When the Beach Boys formed in 1961, it was mostly a family affair: school pal Jardine established the group with Wilson and his late brothers, Carl and Dennis, and their cousin, Love. Their breezy harmonic tunes and embodiment of freewheeling West Coast sensibilities captured the nation’s attention just before the Beatles invaded the United States, and continued for much of the 1960s with timeless songs like “I Get Around” ‘’Surfin’ USA” and many more.

Following the 1998 death of Carl Wilson, the group fractured and began moving in different directions. Over the past 20 years, the Beach Boys’ legacy has been mired in messy conflicts that the group’s members agreed to squash in honor of their fans and the band’s 50th anniversary, a hallmark occasion even in this jaded age of reboots and comebacks. “They sense that we love each other and that we really want to share that love

with them (the fans),” said 69-year-old Wilson, the visionary songwriter of such classics as “Help Me Rhonda,” ‘’Surfin’ USA” and “California Girls.”

Wilson, who has released solo albums in recent years and now speaks with a slight slur, had a turbulent tenure with the Beach Boys, notoriously leaving then returning to the band at one point as he battled mental illness and drug abuse.

Love said that the Beach Boys, who will be supported by a backing band composed of members from the group’s various touring entities, have rehearsed more than 50 songs spanning all their albums, including “Pet Sounds” and “Smile.” The band noted the biggest challenge has been figuring out who is singing lead on which songs, not recapturing their chemistry.

The 40-city tour will take the band’s members to bigger venues than in recent years, including headlining performances at the Bonnaroo Music and Arts Festival. To honor Carl and Dennis Wilson’s contributions (Dennis died in 1983), the band will play alongside videos of the late founding Beach Boys during a tribute in the show.

“We haven’t gotten the holograms together yet,” joked Marks, referencing the hologram of late rapper Tupac Shakur that appeared at the Coachella Valley Music and Arts Festival earlier in April. For a group who could hardly be considered boys anymore, they’re surprisingly unfazed by the prospect of a sweeping tour that will take them across North America, Europe and Japan. Johnston noted that “hotels are great” nowadays, while Marks was reminded that they no longer have to unload or haul their own equipment in a “U-Haul trailer and station wagon.” “The heavy lifting is the writing, arranging and recording,” said 69-year-old Johnston, who joined the group in 1965. “This is not the heavy lifting. This is the chocolate cake for me because we get to pull all of these magnificently arranged parts out and sing them live. We don’t have to write them now. We just have to pull them out of the trunk.” -AP

Springsteen packs them in for Jazz Fest Bruce Springsteen has closed out the first weekend of the New Orleans Jazz & Heritage Festival with a 2 1/2-hour show that combined crowd-pleasers such as “Born to Run” with the cover tune of his new CD, “Wrecking Ball.” Fans began staking out spots when the Fair Grounds opened at 11 a.m.

Sunday, rushing from the entrance gates to spread blankets and set up chairs close to the stage. By the time Springsteen stepped on stage fans were stretched around the fairgrounds track, some standing 10 to 12 people deep. At one point New Orleans blues legend Dr. John took the stage with Springsteen, joining him on “Something You Got.” Springsteen last played Jazz Fest in 2006. Soul singer Al Green closed out the day on the Congo Square stage. -AP

Backstreet Boys’ A.J. McLean, wife expecting a baby Backstreet Boys’ A.J. McLean is going to be a dad.The former boy band star, 34, and his wife Rochelle Karidis are expecting their very first child, they announced on YouTube Sunday; according to US Weekly. With Karidis, 34, sitting next to him, the “I Want It That Way” singer says in the video to fans, “I just wanted to say thank you guys for all your love and support . . . Because we love you all so much, we wanted to share with you -- for the first time -- something very special.

We’re having a baby!” After proposing to Karadis in January 2010 during a live concert in Las Vegas, the couple tied the knot in December of last year at the Beverly Hills hotel.

Attendees included Kathy Griffin, BSB’s Kevin Richardson, Howie Dorough, Brian Littrell and Nick Carter; celeb photographer Tyler Shields officiated. He has credited Karidis for encouraging his sobriety. “You are my whole world and I cannot wait to spend my life with you,” he tweeted last year to his love. “Without you here, I am lost!”

Former Miss New Hampshire USA faces assault charge Police say a former Miss New Hampshire USA faces a simple assault charge stemming from a confrontation with her boyfriend. Police say Sunday that 26-year-old Nicole Houde was arrested Wednesday. Authorities say the Manchester beauty queen punched, kicked, scratched and bit 33-year-old Scott Nickerson, also of Manchester. Police say the two were arguing and Nickerson took Houde’s cellphone, prompting the physical confrontation. Houde was the 2010 Miss New Hampshire USA. -AP

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Musicians Brian Wilson, Al Jardine, David Marks, and Mike Love perform during the Beach Boys 50th Anniversary Concert Tour at the Anselmo Valencia Amphitheater on April 24, 2012 in Tucson, Arizona. (AFP)

James Bond returns to Istanbul on 50th anniversary PARIS: James Bond has once again returned to Istanbul for “Skyfall”, the latest film in the longest running series that this year celebrates half a century of the legendary spy in action, its director said Sunday. “We wanted to be here because it is the most magnificent place, it is an incredible city... I can’t get enough of it,” said director Sam Mendes, who spoke to the press in Istanbul after more than 100 days of shooting “Skyfall” in Turkey. The 23rd film in the Bond series was shot on several locations in Turkey, between the southern province of Adana and the southwestern coastal town of Fethiye, as well as in the historical Grand Bazaar of Istanbul.

“Bond has had a close relationship with Istanbul... It has been 49 years to the day since they were last here.. Bond was last here,” said Daniel

Craig, who took over the Bond character in 2006 with “Casino Royal”.

Barbara Broccoli, one of the producers, noted that Istanbul was chosen as the venue for “Skyfall” to mark the 50th anniversary of the legend in “the favorite city of Ian Flemming”, the British author who invented “James Bond” in 1953.

Bond may even have a car chase scene on the very epitome of Istanbul, the Bosphorus bridge, Mendes said in response to a question, hinting that the city may continue to appear in forthcoming Bond movies. The Bond series briefly featured Istanbul in 1999 for “The World is Not Enough”, after Bond’s first appearance in the city in 1963 for the second film of the series, “From Russia With Love”. “Skyfall” is expected to be released in late 2012. -AFP

the resignation of a senior ministerial aide and demands for the minister himself to quit.

The committee is expected to criticize James Murdoch for his handling of News Corp’s British newspaper arm and is considering whether to implicate Rupert Murdoch for his influence over the wider company culture. A tough report could make it harder for 39-year-old James Murdoch in his role as News Corp’s deputy chief operating officer after the damage the company has already taken to its value and reputation.

Committee members believe Murdoch staff have shown little respect for the parliamentary system and accused them at one point of suffering from “collective amnesia”.

Since the committee has to be careful of criticizing any of the people arrested over phone- and computer-hacking and bribery to avoid prejudicing court cases, the criticism of the Murdochs may be even more pointed.

They have not been arrested.

Rupert Murdoch told the Leveson inquiry on Thursday that staff within the News of the World had hidden the hacking scandal from himself, James and ex-News of the World editor Rebekah Brooks, a protégée of his.

He put the blame on the journalists and the paper’s former top lawyer and said he wished he had shut the paper sooner. He brushed off any suggestion that he could be held responsible for a culture that allowed criminality to flourish. -Reuters

Romney, Secret Service, GOP: Obama mocks them all

US President Barack Obama speaks at the White House Correspondents Association annual dinner in Washington April 28, 2012. (Reuters)

US President Barack Obama shakes hands with comedian Jimmy Kimmel as WHCA President and Reuters correspondent Caren Bohan (center) watches at the White House Correspondents Association annual dinner in Washington. April 28, 2012.

(Reuters)

WASHINGTON: President Barack Obama scattered the barbs during the annual White House Correspondents’ Association dinner as he poked fun at White House races past and present, the Secret Service and Donald Trump.Even the entrance to his speech Saturday night was part of his schtick. The president walked off stage just before he took the podium with an alleged “hot mic,” making fun of getting caught last month on an open microphone with Russian President Dmitry Medvedev. “What am I doing here,” he asks off stage. “I’m opening for Jimmy Kimmel and telling knock-knock jokes to Kim Kardashian.” Once on stage, the president revisited last year’s dinner, which took place as Navy SEALS were dispatched to capture and kill Osama bin Laden.

“Last year at this time, this very weekend, we finally delivered justice to one of the world’s most notorious individuals,” Obama said. Then a picture of real estate mogul Donald Trump appeared on the room’s television monitors. The president last year delivered a scathing roast of Trump, who flirted with running for the Republican nomination and claimed he had solved the “mystery” of Obama’s birth certificate. Obama also took a shot at the Republican congressional leadership, whom he thanked “for taking time from their exhausting schedule of not passing any laws” to attend the dinner.

Four years ago, Obama recalled, he was locked in a tough primary fight with Hillary Rodham Clinton, now his secretary of state. “She can’t stop drunk texting me from Cartagena,” he said, referring to their recent trip to the Summit of the Americas in Colombia, where Clinton was photographed drinking a beer and dancing.

This year, Obama is the incumbent, but the dinner was far from a campaignfree zone. The president pointed out his similarities with the presumed Republican nominee, Mitt Romney. “We both think of our wives as our better halves, and the American people agree to an insulting extent,” the president said.

“We both have degrees from Harvard.

I have one, he has two. What a snob.”

Actors George Clooney (right) laughs while US President Barack Obama speaks at the White House Correspondents Association annual dinner in Washington April 28, 2012. (Reuters)

The crack drew a thumbs up from former Pennsylvania Sen. Rick Santorum, who was in the audience. Santorum dropped out of the presidential primary campaign earlier this month. He had called Obama a snob for encouraging young Americans to attend college. But Obama touched on serious themes as well, remembering The New York Times’ Anthony Shadid and Marie Colvin of the Sunday Times of London who died while covering the uprising in Syria. “Never forget that our country depends on you to help protect our freedom, our democracy and our way of life,” Obama said. Then he returned to the lighter side: “I have to get the Secret Service home in time for their new curfew.”

Kimmel, the night’s featured entertainer, asked Obama: “You remember when the country rallied around you in hopes of a better tomorrow? That was hilarious.”

“There’s a term for guys like President Obama,” Kimmel said with a pause.

“Probably not two terms.”

Proceeds from the dinner go toward scholarships for aspiring journalists and awards for distinction in the profession.

The association was formed in 1914 as a liaison between the press and the president. Every president since Calvin Coolidge has attended the dinner. -AP

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ALWATAN DAILY

AROUND TOWN / TIME OUT

TUESDAY, MAY 1, 2012

If you have an event you wish to include, please email: aroundtown@alwatandaily.com

Feature o f

graffiti

the day

moderately confused

Our Shared Planet Motorcycle Adventures share their stories over a cup of Starbucks coffee at AUK Diwan Book Club KUWAIT: Starbucks and the Diwan Book Club hosted a successful Coffee Chat series last week at the AUK Starbucks Coffee Shop. The event introduced the founders of the ‘Our Shared Planet Motorcycle Adventures’ blog, two daring Kuwaiti riders who have travelled around the world on their motorcycles. The two members, Ali Jafar Al-Bairami and Muhanad Hisham Al-Sultan shared their thrilling experiences and adventures with members of the Diwan Book Club, Starbucks management team and customers.

The motorbike enthusiasts have always had a strong passion for roaming around the globe on their motorcycles. Their dream was put into action in 2009 when they visited more than 17 countries in just 105 days. Their route started from Kuwait headed to China and finally ended in Canada. They then travelled all the way through Europe, finishing in Greece and finally returning back to Kuwait. At the Coffee Chat Series, they also shared news of their most recent accomplishment which involved travelling through seven countries in less than sixty days to reach Cape Town, South Africa.

Yousef Khalifa, Diwan Book Club President said: “One of the great opportunities that this Coffee Chat Series provided to our members and customers was a unique and international outlook from our daring guests. These men have managed to pursue their hobby and have successfully turned their dream into a reality.

They are not just motorcyclists on the roads of Kuwait, but they cruised the world and shared with us exciting accounts of their dynamic journey while their start and finish point is Kuwait.”

The Starbucks Coffee Chat Series, in partnership with the Diwan Book Club, will continue hosting prominent Kuwaiti figures who have made a difference in their community through outstanding work in the fields of art, literature and sports.

Month a t

Commenting on the successful fifth edition of the Coffee Chat Series, Rana Shaheen, Regional Communications and CSR Manager, Starbucks, MENA Region said: “Our fifth Coffee Chat event was a huge success, thanks to the presence of three daring gentleman and members of ‘Our Shared Planet Motorcycle Adventures’, who certainly managed to thrill the audience with their enticing stories and adventures from around the world. The main aim of the bi-monthly Coffee Chat Series is to expose Kuwaiti talents and their experiences to the Diwan Book Club members, whilst also highlighting the success of many local individuals to our customers. We are extremely pleased with the success of the fifth Coffee Chat event and hope to continue our cooperation with the Diwan Book Club for many years to come.”

The Starbucks Coffee Chat Series, held in collaboration with Diwan Book Club, allows club members and customers to interact with local Kuwaiti figures accomplished in the arts or sports, and hear their experiences over a cup of coffee. The last Coffee Chat took place on Jan. 15, 2012 and featured Dr. Naif AlMutawa, founder and author of the famous ‘THE 99’ comic book.

Sudoku

Elementary

Intermediate

Advanced

General A n n o u n c e m e n t s

a glance

Diwaniya presentation May 1/ 7 p.m. /The AWARE Center: The AWARE Center cordially invites interested Western expatriates to its diwaniya presentation entitled, “Criminal Laws in Islam,” by Dr. Teresa Lesher. Criminal law in Islam aims to safeguard the community and exists when there is potential harm to a second party. Join Dr. Teresa Lesher for a discussion of Islamic law (shariah) regarding the penalties for the major crimes, including murder, manslaughter, armed aggression, theft, rape, adultery, slander and intoxication, and how these rules protect the citizens’ material, spiritual and social development. Q&A follows a 20-minute presentation.

Marriage counseling session

K’S PATH invites applicants for the adoption of pets Sepp is a Domestic Long Haired (DLH) male cat. He will be 2-years-old April 2012. This friendly, laid-back boy loves a good cuddle and likes a high vantage point in a cat tree or ledge to look out from. He would do best in a home with children over 12 years of age.

To adopt, contact +965 67006122 or visit the website www.kspath.org

May 2/ 6 p.m. - 8 p.m. / TIES Center: TIES Ladies Club invites all ladies to a lecture on Marriage Institution by Joanne Hands (Psychologist, Licensed Counselor, Marriage & family Therapist). The lecture will cover on a brief introduction to the stages of marriage institution, a successful approach to the day to day marriage life, tricks of nourishing and improving your marriage relationships and techniques of overcoming the marriage challenges. Refreshments will be served.

For more information please contact us on 97228860/2523015/6 or emailinfo@tiescenter.net.

Mario is a gentle and affectionate 6-years-young Spitz male. This friendly boy does great with people and dogs of all ages.

Annual speech contest

Pretty Little Things Charity Edition April 28 - May 1/3:00 p.m. - 10:30 p.m/Sadu House: Try new things, meet the people behind regional brands, help raise funds to refurbish a part of the orphanage, chat under the stars by candlelight and stay a while. Opening day will be April 28 at 7:00 p.m. with special appearance by Fishyface booth and the event will extend from April 29 to May 1 from 3:00 p.m. until 10:30 p.m. held in Sadu House; Gulf Road; in front of the National Museum of Kuwait. Come and meet: Razan Al Azzouni, Fyunka, Sotra Boutique, Th\\’haba, May Jewelry, Paper Design Nest, The Yard, Peices By Farah, AK Eco Gioelli, Muneera Alsharhan, So Lulu, Baby B, Lina Jewelry Design, and more! For more information visit Facebook page https://www.facebook.com/ events/122809627847930/.

May 5/ 2 p.m. - 8p.m. /AIS: The Annual Inter-Gavel Club Contest showcases the communication skills of young children through speech contest. This speech contest will be amongst the members of 14 Gavel Clubs mentored by the members of internationally recognized toastmasters in Kuwait. This year’s contest will be held at American International School, Maiden Hawalli. Entry to this event is absolutely free but a prior registration is required.

The Embassy of the Slovak Republic in Kuwait would like to inform the public that on the occasion of the Labor Day, the Embassy will be closed on Tuesday, May 1, 2012 and on the occasion of the Liberation Day, the Embassy will be closed on Tuesday, May 8, 2012.

Holiday Notice The Embassy of India will remain closed on May 6, 2012 on account of “Buddha Purnima”.

Bread baking course April 19- May 10/ 6 p.m.-8 p.m. /TIES Center: TIES Ladies Club invites all ladies the unique course of preparing the ancient traditional food “The Bread Baking”.

Baking of different kinds of breads will be demonstrated including Old English Toast, Italian Bread Stick, Strawberry Sweet Heart and many more. For more information please contact us on 97228860/2523015/6 or emailinfo@ tiescenter.net.

Dilbert

Embassy of the Slovak Republic

Open House for Indian Citizens Ambassador of India would be holding an Open House for Indian citizens to address their problems\grievances on Wednesdays of the second and the fourth weeks of every month between 1500 hrs and 1600 hrs in the Embassy. In case Wednesday is an Embassy holiday, the meeting will be held on the next working day. To ensure timely action/follow-up by the Embassy, it is requested that, wherever possible, Indian citizens should exhaust the existing channels of interaction/grievance redressal and bring their problems/issues in writing with supporting documents.

Nancy

Horoscopes Aries: March 21 - April 19

A subject you’re researching, perhaps for a class or workshop, might prove more difficult than you expected, Aries. The resources you consult might be very scholarly and thus difficult to read. If you can’t find anything comprehensible, try to rent or buy a video on the subject. It’s more important to understand the material than force yourself to approach it in the accepted scholarly manner.

Taurus: April 20 - May 20

A neighbor or relative might volunteer to help you with some chores around the house, Taurus, but you could sense that his or her heart isn’t in it. This person is probably thinking about things and just needs some kind words and a little advice. Just accept that even though you have help, you’ll probably end up doing most of the work yourself.

Gemini: May 21- June 21

Paperwork involving money could be a real drag for you today, Gemini. You’ll have to get it done, but you’d rather be elsewhere. It might also seem a little confusing. If you get to it early and concentrate, you should finish it quickly and then get on to what you want to do.

Cancer: June 22 - July 22

A contract of some kind, perhaps involving the home, might need some careful consideration today, Cancer. You could find it a little difficult to understand, as it could be full of fine print and legalese.

Don’t be afraid to ask someone with a little more savvy to explain what you’re trying to read. It’s important that you know all the ins and outs before signing anything, for your own peace of mind.

Leo: July 23 - August 22

You might pick up some rather disturbing thoughts from a friend, neighbor, or relative, Leo. This person could be upset over something and not communicating his or her feelings. It isn’t appropriate to try to coax this person into sharing with you now. They aren’t upset with you, but they might be if you push! Back off and let this person come to terms with the problem.

Virgo: August 23 - September 22

Some gossip about a friend could reach your ears today and it might seem a bit shocking at first. Money could be involved. However, don’t accept what you hear at face value. Whoever got the rumor going is apt to be less concerned with the truth than serving a personal agenda. Call your friend and try to learn the facts without prying.

Libra: September 23 - October 22

Today you might find yourself the center of attention, Libra. Friends could ask for some information they know you have. It might involve telling a story or giving practical advice.Whatever it is, you might find it difficult to explain without going into some pretty heavy detail. You can do it! Talk slowly and let what you have to say unfold on its own. Your audience will probably be rapt.

Scorpio: October 23 - November 21

Today you might take up some sort of occult study, such as astrology, numerology, or alchemy that seems like Greek to you at first, Scorpio. As a result, you could be tempted to abandon it. Don’t! Once you get past the jargon, you’ll probably find it fascinating. Keep a dictionary handy, and don’t worry if you have to go over something several times. You have the brains to do it. Now just put in the time.

Sagittarius: November 22 - December 21

A friend might be in such a dour mood that you wonder if this is the same person you know and love, Sagittarius. During the day you might be tempted to try to analyze what’s going on, but this is apt to raise more questions than answers. Probably this is a case of too many problems hitting your friend at once.

Capricorn: December 22 - January 19

A friend or romantic partner might need your advice, Capricorn, and want to discuss a few things that you don’t really understand. This could concern this person’s job, which involves a lot of technicalities with which you’re unfamiliar. Don’t be afraid to stop occasionally and ask for an explanation. If you’re going to be of any help, you have to have some idea of what this person is talking about.

Aquarius: January 20 - February 18

Today you might read a book on exercise or nutrition that seems a bit unsettling, Aquarius. According to the book, you’re doing everything wrong!

Remember that what the author is probably outlining is a certain practice that worked for him or her. Everyone is different. Don’t change your habits for practices that don’t feel right. Consult a professional if you’re still concerned.

Pisces: February 19 - March 20

Memories and emotions welling up from the past might excite your creative impulses today, Pisces.

You may not quite be able to understand what all of this means, but the pictures should keep coming to you nonetheless. It might be a good idea to take some notes, even though you might not comprehend all you write.

ALWATAN DAILY

SPORTS

tuesDAY, may 1, 2012

19

Tennis

History man Nadal builds towards seventh French Open

Stuttgart title gives Sharapova French Open boost

BARCELONA: Maria Sharapova said she was happy to open her clay-court season by winning Stuttgart’s WTA tournament as part of her French Open preparations and to break her losing streak in finals.

With the Madrid and Rome clay-court tournaments still to come before Roland Garros begins on May 27, the world number two said she still has plenty of work ahead of her as she bids to win the one Grand Slam which eludes her.

Having once described herself playing on clay as like ‘a cow on ice’, Sharapova was in impressive form here as she saw off US Open winner Samantha Stosur and Wimbledon champion Petra Kvitova en route to the final.

She blasted her way past subdued world number one Victoria Azarenka, who had problems with her right wrist all week, for a 6-1, 6-4 victory in Sunday’s final. It was her first title of the year having lost her three previous finals in 2012.

She also gained revenge for her Australian

Open final defeat to Azarenka to claim her 25th title of her career, but having reached the French Open semi-finals last year, the goal is to lift the trophy in Paris.

Sharapova admitted she had extra motivation to win the Stuttgart title after losing twice to Azarenka in the final at both the Australian Open and Indian Wells before also losing to Agnieszka Radwanska in the Miami final.

“I had lost a few finals recently, so I was really motivated, you always try and change a few things after you lose and they came off,” she said.

“You put yourself in a position to reach finals and then you are disappointed to lose, because you have worked so hard, so it was great to change that around today.”

Her victory in 84 minutes came with both a winner’s cheque of 115,000 dollars plus a new Porsche sports car.

Sharapova said she would find space for another high-performance car in her garage, even if she had to get a bigger one built. -AFP

basketball Rafael Nadal of Spain bites the Conde de Godo trophy after beating compatriot David Ferrer to win the Barcelona Open tennis tournament, April 29, 2012. (Reuters)

BARCELONA: Rafael Nadal is back on top of his mental and physical game after completing a fortnight of historymaking with the Spanish king of clay adding another line for the record books. The world number two on Sunday became the first man to win two separate events seven times, as he defeated battling compatriot David Ferrer 7-6 (7/1), 7-5 to win a seventh trophy at the Barcelona Open.

That success came seven days after he thrashed world number one Novak Djokovic for an eighth consecutive title at the Monte Carlo Masters. At the start of the month, Nadal would not have liked his victory chances after being forced to quit before his Miami semi-final with Andy Murray due to left knee pain.

But a week or so of therapy, married

to his iron will, has put the 25-year-old on course for what would be an unprecedented seventh French Open title. His Barcelona triumph marked his seventh title in eight editions, with his only loss prior to 34 straight victories coming in 2003 to current Davis Cup captain Alex Corretja.

Nadal takes a well-deserved week off before heading to the Spanish capital for the Madrid Masters staring next Sunday.

His Barcelona victory came a decade to the day since he made his winning ATP debut on his home island of Mallorca.

Now he owns 34 claycourt titles and has lost only four finals on the surface. He now has 48 career trophies overall.

“I don’t know when I’ll go to Madrid.

But since it is played at altitude, you have to prepare for that. It’s totally different

from Monte Carlo, Rome and Paris,” he added.

Spaniards have dominated Barcelona, with Nadal beating Ferrer four times for the title and it was the 10th consecutive year that a pair of countrymen had met for the trophy at the Real Club de Tenis. Ferrer was disappointed but realistic about the epic contest. “Rafa is Rafa and he is very good. I’ve lost four times to him in this final, but I’ve always lost to one of the greats.

He is a very good player and even better as a person,” he said.

“This loss is not a huge drama, it’s still been a good week for me. But beating Rafa is always difficult, I wasn’t able to win the key points today. Other than that, I don’t know what else to do. The more I play him, the tougher it gets.” -AFP

Hawks swoop for NBA playoff opener over Celtics

Cricket

Skylark take trophy in Kuwait Cricket Centre tournament KUWAIT: Kuwait Cricket Centre organized the third cricket tournament season 2011-2012. The final was held on 27th April. The final team Skylark captained by Mehmoud Abdullah beat Kuwait Swedish

by 51 runs. Team Skylark won the toss and elected to bat and scored 222 runs in 19 overs where the Kuwait Swedish scored 172 runs in 10 wickets. Kuwait director General Mr.Asad Baig, Kuwait cricket

centre President Mr. Said Mubarak, Club secretary Mr. Gopakumar participated.

The Kuwait Cricket Centre life achievement award was given to Mr. Vinod.V.Nair of 98.4 UFM radios news head.

Skylark pose with the trophy after winning the third Kuwait Cricket Centre tournament.

Formula one

Out of the Blue, Sauber F1 do Chelsea deal LONDON: Sauber’s cars will sport the blue logo of Champions League finalists Chelsea from next week’s Spanish Grand Prix as part of a deal between the Swissbased Formula One team and the English Premier League club.

“A partnership like this between Formula One and football has never existed before in this form, yet there are numerous commonalities and possible synergies,” said Sauber Chief Executive Monisha Kaltenborn in a statement on Monday.

“The Sauber F1 Team and Chelsea FC are dealing with many of the same sporting and commercial topics and we want to strengthen each other in these areas.”

Sauber had the mysterious inscriptions “out of the Blue” and “True Blue” on the engine covers of their cars in the last two races in China and Bahrain with-

out saying what the words signified.

The Ferrari-powered team said that, in concrete terms, the partnership would include the sale of merchandise and the exchange of sports science know-how. Both sides will feature the other’s logo with the aim of increasing their market presence outside their respective sports.

Chelsea, currently managed by Swissborn Italian Roberto Di Matteo, will present the Sauber logo at home matches on advertising boards at the stadium and on interview walls.

“Conversely, the football club benefits from Formula One’s television reach which, compared with the Premier League, is much higher and more international,” said Sauber.

“Particularly in Asia, Formula One enjoys enormous TV presence and, not

least thanks to Sergio Perez, is currently captivating more and more fans in Latin America as well.”

Sauber’s two drivers are Mexican Perez and Japan’s Kamui Kobayashi. Chelsea Chief Executive Ron Gourlay said Sauber, as the fourth oldest team on the starting grid, reflected Chelsea’s ideals.

“In a year when Chelsea celebrates 20 seasons as a Premier League team, Sauber does so as a Formula One team,” he said.

“We share many philosophies when it comes to how the respective organizations are run, from the development of young talent to constantly striving for success. This partnership will benefit us both greatly, with the potential to create unique commercial opportunities,” he added. “It is a shared vision to unite the two most attractive sports in the world.” -Reuters

Greg Stiemsma (54) of the Boston Celtics is called for a blocking foul against Josh Smith (5 )of the Atlanta Hawks in Game One of the Eastern Conference Quarterfinals , April 29, 2012. (AFP)

ATLANTA: Talk about a tough playoff opener for the Boston Celtics. One game, possibly two big losses. There was the score, of course, which went in favor of Atlanta. With Josh Smith scoring 22 points and grabbing 18 rebounds, the Hawks built a big lead early and held on for an 83-74 victory in Game 1 of the Eastern Conference playoffs Sunday night.

The Hawks, who led by as many as 19 in the first half, were clinging to a four-point lead when Rondo lost his cool with 41 seconds remaining. Boston’s Brandon Bass was called for a foul on Smith tussling for a loose ball, with both players sprawled on the court out beyond the foul line. Rondo screamed at official Marc Davis, who called a technical. Rondo then bumped Davis with his chest and was ejected without hesitation.

At the beginning, the Hawks looked much quicker and faster than the aging Celtics. With every starter outside of Jason Collins contributing at least four points, Atlanta raced to a 20-6 lead with the game just over 5 minutes old. The Hawks twice pushed the margin as high as 19 points and settled for a 49-35 edge at halftime.

Smith totally outplayed Boston’s Kevin Garnett over the first two quarters, going into the break with

15 points, 11 rebounds and two assists. Garnett had only two points on 1-of-9 shooting.

Smith had to carry the load. The Hawks’ other big gun, Joe Johnson, had a miserable night with 11 points on 3-of-15 shooting, committing more turnovers (four) than he made field goals. He was 0 of 9 from 3-point range.

The Hawks got sloppy with the ball and made only 19-of-54 shots after their blistering performance in the opening quarter. That allowed the Celtics to edge back into the game, and it looked as though they might just pull off the comeback until Rondo’s big blunder. Smith said he was definitely fouled as he scrambled for the loose ball with Bass.

Garnett bounced back to put up 20 points and 11 rebounds. Paul Pierce had only 12 points, going 5 of 19 from the field and missing all six of his 3-point attempts.

Celtics guard Ray Allen missed a playoff game for the first time in his career, watching from the bench in a suit and tie because of an ailing right ankle. He would’ve already had surgery if it was earlier in the year, but the 36-year-old member of Boston’s Big Three is hoping to heal in time for possibly his last hurrah in Beantown. -AP

Clippers rally from 27 down, stun Grizzlies 99-98

MEMPHIS: Chris Paul begged coach Vinny Del Negro to put him back into the game for the fourth quarter and not give up despite being down 21 points. The result was another Clippers comeback - one of the greatest in NBA playoff history. Paul hit a pair of free throws with 23.7 seconds left, and the Clippers rallied from a deficit that had been as much as 27 to stun the Memphis Grizzlies 99-98 Sunday night in the opening game of their Western Conference series. The key, Paul said, is to keep believing.

Rudy Gay missed a 15-footer with 0.9 seconds left after the Grizzlies squandered a lead they held for the first 47 minutes, with a 24-point cushion disappearing in about nine minutes.

The Clippers lost Caron Butler to a broken left hand, and he said he thinks he caught his hand in Gay’s jersey on a screen. Del Negro said other players will have to step up.

The Grizzlies looked ready to roll as they ran out to a 20-point lead in the first quarter and were up by 27 twice in the third, the last on a pair

of free throws by Mayo with 1:34 left.

The Clippers finally got going in the fourth, as the Grizzlies looked like they shut it down way too soon. They had five turnovers in the fourth.

Even though the Clippers had seven themselves, the Grizzlies looked lost as they just lost the ball going into the lane or put up shots that had no chance of going in.

The Grizzlies seemed to be clicking all across the board. They even hit 11 of 16 from 3-point range after ranking 25th in the NBA this season beyond the arc at 34.5 percent. Against the Clippers, they opened by hitting their four. So did Conley, and he hit three straight, the last with 7:19 left in the third, putting the Grizzlies up 6948.

The Clippers made a run in the second quarter and got within 50-39. But after Gay missed a pull-up jumper, the Clippers had a shot clock violation. The Grizzlies scored the final eight points, the last on a dunk by Gasol just before the buzzer for a 58-39 halftime lead. -AP

tuesday, may 1, 2012

SPORTS

Sports Editors Highlight LISBON: Porto clinched their 26th Portuguese Premier League title after fierce rivals Benfica slipped to a 2-2 draw at Rio Ave on Sunday, extending their decade-long domination of Portuguese football. The northern club won 2-0 at Maritimo on Saturday thanks to two penalties by Brazil winger Hulk. Second-placed Benfica’s draw left Porto with a six-point advantage and with only two matches remaining the “Dragons” have a better head-to-head record. The title win means Porto, European champions in 1987 and 2004, have won eight league trophies in the last 10 seasons. Thousands of Porto fans cheered and chanted in downtown Porto as the squad celebrated on a balcony in the Dragao stadium. Pereira struggled at times to live up to his predecessor’s glorious 2010-11 season but will take satisfaction from the domestic league trophy despite falling short of last year’s treble. - Reuters

Football

Confidence key for Chelsea, says Di Matteo LONDON: Roberto Di Matteo has warned Chelsea’s top four rivals that his side’s sky-high confidence could be the decisive factor in the race for Champions League qualification.

Di Matteo’s team finished a memorable week that started with an epic Champions League semi-final triumph over Barcelona by demolishing west London rivals QPR 6-1 at Stamford Bridge on Sunday.

The Blues would qualify for next season’s Champions League if they beat Bayern Munich at the German club’s Allianz Arena on May 19, but interim boss Di Matteo doesn’t want to rely on that and is determined to keep his players focused on the top four battle in the Premier League.

Chelsea are one point behind both fourth-placed Tottenham and fifth-placed Newcastle, who visit the Bridge on Wednesday, and Di Matteo believes his players are in the mood to snatch the last guaranteed spot in Europe’s elite club competition.

“It’s great for the club that we have all these players full of confidence and everybody wants to play,” Di Matteo said. “The whole team looks full of confidence and that is the only way we can be successful. After Champions League games the next Premier League match often proves difficult, so the team surprised me.

I was hoping for a good performance but I wasn’t expecting that. They really put in a great performance. It’s great to see this team ethic and team spirit from all these guys.”

No player sums up the dramatic improvement in Chelsea’s fortunes under Di Matteo more than Fernando Torres, who followed up his crucial late goal in Barcelona with a hat-trick against QPR. Now Di Matteo must choose between the resurgent Torres and Didier Drogba, who was rested against QPR, when Newcastle come to west London in midweek. Although the FA Cup final against Liverpool is looming on Saturday, Di Matteo plans to field a strong team.

After taking over a club in crisis following Andre Villas-Boas’s dismissal, Di Matteo has delivered a remark-

Chelsea’s Captain John Terry (center) gestures to the fans after scoring their second goal against Queens Park Rangers during the English Premier League football match, April 29, 2012. (AFP)

ably assured performance in the managerial hot seat. He has lost just one of his 16 matches and reached two cup finals, yet it is still uncertain whether he will be offered the job on a permanent basis.

The Italian also admitted he had little say over the club’s signing of Werder Bremen midfielder Marko Marin this week.

While Chelsea have plenty to look forward to, QPR face a nervous finale as they try to avoid an immediate return to the Championship.

Mark Hughes’ side are above the relegation zone only on goal difference and must beat Stoke at home next weekend before a daunting final game of the season at Manchester City. -AFP

Real eye title celebrations at Cibeles MADRID: Success-starved Real Madrid fans will finally be able to stage the traditional title celebrations at the Cibeles fountain in the centre of the Spanish capital on Wednesday if Jose Mourinho’s side win at Athletic Bilbao.

After four years living in the shadow of bitter rivals Barcelona, when only a King’s Cup was added to the trophy cabinet, many of them will also be celebrating the imminent departure of Barca coach Pep Guardiola, who announced on Friday he was stepping down at the end of the season.

Guardiola has been a hugely irritating thorn in Real’s side since taking over in 2008, leading Barca to 13 trophies including two Champions Leagues and three successive La Liga titles.

However, the arrival of the combative Mourinho from Inter Milan in 2010 is finally starting to bear fruit. His free-scoring Real side, eliminated on penalties by Bayern Munich in the Champions League semi-finals last week, have 91 points with three games left.

Barca, who host Malaga earlier on Wednesday, are seven adrift and resigned to the fact that their three-year stranglehold on the La Liga title is drawing to an end.

The normally outspoken Mourinho

Real Madrid’s Cristiano Ronaldo celebrates with teammates during the UEFA Champions League second leg semifinal football match Real Madrid against Bayern Munich, April 25, 2012. (AFP)

has shunned the media in recent weeks, sending out assistant Aitor Karanka before and after La Liga matches. Karanka said after Real’s 3-0 home win over Sevilla on Sunday winning the title at the San Mames against Europa League finalists

Bilbao would be a special experience.

“But nobody is thinking about anything other than winning the three points that we need wherever and whenever that might be,” he added.”It’s clear that winning a championship like the Span-

League would be necessary to keep his top players at the club. Kyle Walker’s spectacular 25-yard free kick sealed victory after Rafael van der Vaart’s first half goal sent the home side on their way here on Sunday.

The win lifted Tottenham into fourth place in the table, ahead of Newcastle on goal difference and put them

Tottenham Hotspur’s Gareth Bale (left) competes with Blackburn Rovers’ Morten Gamst Pedersen during their English Premier League soccer match at White Hart Lane, April 29, 2012. (AP)

MANCHESTER: Argentina striker Carlos Tevez has told Manchester City he wants to stay at the club for the long term in a remarkable turnaround for a player who was an outcast only months ago. Tevez said Abu Dhabi-owned City had big plans and he wanted to be part of them.

“This club has been building something special for the past few years. It was the project and the dream that made me come to City in the first place,” he declared.

“I’ve been here since the start of that project and I share the same vision as (owner) Sheikh Mansour (bin Zayed Al Nahyan),” Tevez added. “He has always been brilliant with me and I want to repay his faith and stay here as long as it takes to make the project a success.”

Mancini and Tevez fell out in September after the manager said the player refused to warm up as a substitute for a Champions League match against Bayern Munich, with the Italian saying the Argentine would never play for the club again.

Tevez, who returned to Manchester in February after an unauthorized three-month absence in Argentina, reappeared in the starting line-up this month after apologizing and being integrated back into the first-team squad.

City, who are three points adrift of league leaders United, have a superior goal difference and can go back to the top if they win at home on Monday.

Tevez goes into the game as the man who can make all the difference, according to his manager.

“I think Carlos is destined to score the most important goal in the history of this club,” said Mancini. -Reuters

Cassano’s return may have come too late for Milan

ish league, with all the effort it costs and everything that goes with it, is important.

The sooner the better.”

The fight for the third automatic Champions League berth and fourth, which carries a qualification spot for Europe’s elite club competition, has intensified in recent weeks, with Valencia struggling to hold off ambitious, Qatar-owned Malaga.

The Andalusian club earned a 1-0 home win over Valencia on Sunday to draw level on 55 points but remain fourth due to a poorer head-to-head record.

After Malaga’s game at the Nou Camp, Valencia host eighth-placed Osasuna , who are still in with a chance of a berth in the Europa League next season along with Levante, Bilbao and their opponents in next month’s final Atletico Madrid.

With Racing Santander already down, Sporting Gijon and Real Zaragoza continue their unlikely bids for survival at home to Villarreal and Levante respectively.

Gijon, in 19th, could close to within a point of Villarreal with a win on Saturday, but will be joined on 37 by Zaragoza if they manage to beat fifth-placed Levante on Sunday. Rayo and Granada are also in serious peril in 15th and 16th and play Real Mallorca and Espanyol respectively.

-Reuters

Redknapp relief as Spurs return to winning ways LONDON: Tottenham Hotspur manager Harry Redknapp admitted his relief as the club got their quest for fourth place back on track after a 2-0 win over relegation-threatened Blackburn Rovers at White Hart Lane.

But he denied qualification for the Champions

Tevez wants long-term stay at Manchester City

a point in front of Chelsea.

It was all the more the important, coming as it did the day after winger Gareth Bale revealed in a television interview he would have to “sit down and decide what is best for myself” if Spurs failed to qualify for Europe’s elite club competition.

The Tottenham boss, speaking before the Football Association announced they had approached West Brom manager Roy Hodgson rather than fans’ favorite Redknapp about the vacant England job, said: “Gareth has got to worry about the end of the year but he has a long contract. But I don’t think he is going anywhere and he won’t find too many better clubs than Tottenham. This is a great club to be at and you can’t be letting Gareth go, he is the future of the club. I think the chairman (Daniel Levy) would want to keep him and we need to keep him.”

Fourth place would usually be enough to gain entry to the preliminary qualifying stage of the Champions League, but should Chelsea win this season’s competition, only the top three in the Premier League will qualify.

But a win over Bolton on Wednesday would leave Tottenham a point behind third-placed north London rivals Arsenal with two games remaining.

While Spurs were wasteful and hit the bar three times in the first half, Rovers were so inept they became the first Premier League side since 2004 to fail to register a single shot at goal.

But Rovers manager Steve Kean remained defiant as he looked ahead to their remaining league games, at home to fellow drop candidates Wigan and away to Chelsea, saying: “It is tough but we need two monumental performances. There have been many times this season where people have written us off and we have bounced back,” he insisted. “We have to bounce back with two wins.” -AFP

Antonio Cassano of AC Milan in action during the Serie A match between AC Milan and Genoa CFC at Stadio Giuseppe Meazza on April 25, 2012. (AFP)

MILAN: Antonio Cassano has been praised by AC Milan’s doctor for working tirelessly to get fit after heart problems but his return to the starting lineup looks to have come too late to save their dwindling scudetto hopes.

A 26th-minute goal in the forward’s first start for six months helped the champions to a 4-1 win at Siena on Sunday and they stayed three points adrift of Juventus as the leaders walloped Novara 4-0. Three games remain and second-placed Milan host midtable Atalanta on Wednesday desperate for Juve, chasing their first Serie A title since a 2006 match-fixing demotion, to slip up at home to third from bottom Lecce.

Cassano, now likely to feature for Italy at Euro 2012 having proved his fitness, will be eager for another start in midweek and the medical staff say he is ready.

“He really has been very strong. He has not given up for one moment, he has come to the Milanello training ground and done exactly what he had to do. I didn’t expect a goal immediately,” club doctor Rodolfo Tavana told reporters. “We wanted to make sure he could return to the pitch healthy and with no risks.”

With the top two expected to win on Wednesday, focus will quickly turn to Sunday’s derby between Milan and resurgent Inter who have rocketed up the league under new coach Andrea Stramaccioni and lie joint third with three teams.

Third place guarantees a Champions League qualifying place with fourth only worth a Europa League berth after Italy lost one of its slots to Germany. Napoli, Udinese and Lazio are the other teams level on 55 points with Inter, 22 points behind Juve.

Italy uses head-to-head records rather than goal difference to determine positions at the end of the season and the scenario has added complications with Lazio hosting Inter on the last day of the campaign on May 13.

Before then Inter travel to improving Parma on Wednesday when Lazio welcome Siena and Udinese go to relegated Cesena. Napoli entertain Palermo on Tuesday.

Lazio will be without suspended defender Andre Dias after he was sent off in bizarre scenes at the end of Sunday’s 2-0 defeat at Udinese. At the foot of the table, second from bottom Novara will be relegated on Wednesday if they fail to win at fellow strugglers Fiorentina. -AFP