May 14, 2012

MONDAY, MAY 14, 2012

@alwatandaily

Issue No. 1434

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150 Fils with IHT

Majority undecided over Al-Shamali’s interpellations

MP Al-Juwaihel swears on Holy Quran, denies spitting, drunkenness Mohammed Al-Salman, Mohammed Al-Khaldi, Osama Al-Qatari and Ahmed Al-Shemmari Staff Writers

KUWAIT: Apparently undecided over the two interpellations filed against the Minister of Finance Mustafa Al-Shamali, the Majority Bloc is to meet on Saturday at MP Khaled Al-Tahous’s diwaniya to hammer out a proper mechanism for questioning the minister.

It has been gathered that the bloc is considering two options regarding the questioning of the minister and will accordingly decide whether to defer it or merge the two interpellation motions.

A source close to the bloc revealed that members of the majority are making concerted efforts to agree upon a specific mechanism to deal with the two motions to grill the finance minister.

One of the options on the table, according to the source, is to enforce Article 37 of the Parliament’s Internal Charter which provides for the merger of interpellations.

The source further noted that certain MPs within the majority are engaged in efforts geared toward bridging differences concerning the motions, considering that continued rifts may undermine the bloc and the desired results of the interpellation will not be achieved, accordingly.

In the meantime, the source expressed concerns that the government may take an approach that can shatter all the efforts exerted to pursue and topple Al-Shamali.

Moreover, sources have indicated that the Majority’s scheduled meeting at Al-Tahous’ diwaniya will also discuss the best approach to deal with the Minority Bloc and MP Mohammad AlJuwaihel. The sources added that the stance of the

31 suspects arrested in connection with Amghara fires

Minority Bloc during the last Thursday session, which saw Al-Juwaihel spitting on MP Hamad AlMattar, paves the way for reviewing the relationship between the Minority and Majority Blocs.

Members of the Majority have disproved and condemned Al-Juwaihel’s action. The participants will also deliberate over proposed constitutional reforms, including the transformation of electoral constituencies, as well as the endorsement of bills for integrity and financial disclosure.

In other news, the Parliamentary Legislative Committee assigned its advisors to scrutinize proposed penalties aimed at penalizing MP Mohammad Al-Juwaihel due to his misbehavior in Parliament last week. The penalties were approved by the Parliament in the wake of the incident and referred them to the committee to express opinion on such irregularities.

Amazing City seal Premier League title

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Embassy in Beirut denies shooting at building

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Staff Writer

KUWAIT: Thirty-one suspects were arrested in connection with the Amghara junkyard fires, Interior Ministry announced here Sunday. Undersecretary for Public Security Affairs at the Ministry Major General Mahmoud Al-Dousiri told Kuwait News Agency (KUNA) after a meeting that 30 suspects were Asian nationals while one was an illegal resident. He affirmed that security was tightened around the junkyard to prevent more similar incidents from occurring, adding that interrogations were carried out with the suspects to determine who was behind the fires. Meanwhile, Minister of Commerce and Industry Anas Al-Saleh said, “The fire set in Amghara was deliberate and is a systematic sabotage of public and private interests, but we still do not know the motive or the reason.”

This came in a press conference held Sunday morning at the Public Authority for Industry, located in South Surrah, in the presence of Director of Kuwait Municipality Engineer Ahmad Al-Soubaih, Director of the Public Authority for Industry Dr. Ali Al-Modaf, Director of Kuwait Environment Authority Dr. Salah Al-Mudhi, Assistant Undersecretary for General Security Major General Mahmoud Al-Dousari and Jahra Chief of Staff Major General Ibrahim Al-Tarrah.

Al-Saleh said that a committee was formed upon the instructions of His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah to discover the reasons behind the fire of tires in Rahiya area and to submit recommendations and suggestions which help to avoid the occurrence of such incidents. He said that the committee did not issue any decision however another fire erupted last Friday, which gave the impression that somebody is trying to tamper with genMore on 3 eral security.

Bonuses worth KD 100 million for oil sector employees Staff Writers

KUWAIT: Following a meeting between His Highness the Prime Minister Sheikh Jaber Al-Mubarak and the Head of the Oil Labor Union the cabinet approved paying the bonus entitled “Success Bonus” for oil sector employees worth KD 100 million.

Furthermore, the bonus equals the basic salary of employees multiplied four times.The cabinet approved payment of the bonus after considering an item of the opinion of Fatwa and Legislation Department which stipulates that Kuwaiti Petroleum Company can pay such bonuses to its employees without requirement for approval from the Civil Service Commission (CSC).

On his part, the Executive Chief of Kuwait Petroleum Company (KPC) Farouq Al-Zanqi expressed his congratulations to all employees of the oil sector following the approval of the payment of the bonuses, which is also synchronized with the decision of raising the salaries of oil sector employees as well as raising some allowances.

Agility victim of Congress pressures

Police officers carry a demonstrator as he and others are evicted during the early hours from Puerta del Sol square in Madrid, Spain, May 13, 2012. (AP)

Syrian troops raid farming village in continued crackdown BEIRUT: Syrian forces killed at least five people in a raid on a farming village in the country’s northwest on Sunday while continuing to crack down on rebellious areas near the capital Damascus, activists said.

The continuing violence further undermines a UN-backed peace plan that is supposed to bring an end to the country’s 14-month-old crisis. The first step of the plan, a cease-fire that began on April 12, has had only a limited effect. This throws into doubt the rest of the plan, which calls for talks between the regime of President Bashar Al-Assad and those seeking to end his rule. Sunday’s deaths followed a raid by regime forces on the impoverished farming village of Al-Tamana, about 55 kilometers (35 miles) northwest of the city of Hama. The Britain-based Syrian Observatory for Human Rights said five people were killed in the raid and that forces were torching homes.

Speaking via Skype from Hama, activist Mousab Alhamadee, said one local rebel leader was killed alongside five civilians. “He was a hero in the Free Syrian

Army who was trying to defend the civilians,” he said, referring to the umbrella group of local, anti-regime militias.

The area, a plain of farmland along the Orontes River, is dotted with villages of Christians, Sunni Muslims and Alawites, the offshoot sect of Shiite Islam to which Assad belongs. Alhamadee, who is from a village near Al-Tamana, said sectarian tensions were low before the uprising, but had gotten worse as Sunni villages like AlTamana joined the anti-Assad uprising.

He said most of the village’s residents had fled and regime forces were setting fire to houses and looting shops.

He and the Observatory also reported shelling in a nearby village, Hayaleen.

“The regime is trying to punish these villages and to put an end to this revolution as quickly as it can,” he said.

Syria’s uprising started in March, 2011, with protests calling for political reform. The government brutally cracked down on dissent, and many in the opposition have since taken up arms to defend themselves and attack government More on 4 troops.

KUWAIT: Agility and its Kuwait-based subsidiary Agility Defense and Government Services (DGS) filed more than 20 memos to the US Department of Justice in response to the charges brought against the company by the US Court claiming that the company had overcharged for supplying food to US troops and contractors in Iraq, two reliable sources told the Financial Times. The sources said that a memo confirmed that the allegations put forward by the Department of Justice were legally invalid, because the US government failed to prove fraud, and that the prosecutor relied on preferential translations to vague conditions of a contract, which cancels any charges about fraud. In the second memo, according to Financial Times, the company demanded the dismissal of the case filed against it and its subsidiaries, based on an error in the proceeding of filing the case. The memo argued that the US government resorted to a series of unjust tactics which aims to distort, and in some cases to create, the evidence which support the translation of the contract by the government, in order to transfer the case from a More on 9 conflict over a contract to a crime.

LONDON: Manchester City’s captain Vincent Kompany (center) surrounded by team members, lifts the English Premier League trophy after their match against Queens Park Rangers, May 13, 2012. Manchester City were crowned Premier League champions on Sunday after an incredible fightback which saw them score twice in injury time to beat QPR 3-2 and seal the title on goal difference. City’s dreams of a first title

in 44 years appeared to be in tatters as 10-man Rangers led 2-1 after 90 minutes courtesy of goals from Djibril Cisse and Jamie Mackie following Pablo Zabaleta’s opener. But as Manchester United prepared to celebrate snatching a 20th league title following their 1-0 win at Sunderland, Edin Dzeko and Sergio Aguero struck twice in two minutes to seal the most enthralling title duel in years. - AP More on 20

Gulf leaders expected to announce unity plan

DUBAI/RIYADH: Gulf Arab leaders meeting on Monday are expected to announce closer political union, starting with two or three countries including Saudi Arabia and Bahrain, a government minister in Bahrain said.

Saudi Arabia and Bahrain might initially seek closer union, local newspapers have reported, as both countries have accused Shiite giant Iran of fomenting discontent among Shiite Muslims against the Sunni dynasties that rule in both nations.

Tehran denies the charges.

“I expect there will be an announcement of two or three countries. We can’t be sure but I have a strong expectation,” Samira Rajab, minister of state for information affairs, said on Sunday.

“Sovereignty will remain with each of the countries and they would remain as UN members but they would unite in decisions regarding foreign relations, security, military and economy.”

The leaders of the Gulf Cooperation Council (GCC), which also includes Kuwait, Qatar, the United Arab Emirates and Oman, meet in Riyadh as they grow increasingly concerned over Iran and Al-Qaeda after the Arab uprisings.

The protest of majority Shiite Muslims in Bahrain against the monarchy that is allied with the United

States has not gone away after a year.

Saudi security forces entered Bahrain in March 2011 before a crackdown on the revolt, which Riyadh fears has the potential to spill over into Saudi Arabia’s Shiite-populated Eastern Province region, where major Saudi oilfields are located. The Saudis also accuse Tehran of instigating protests among their Shiite minority. Bahrain’s prime minister, Khalifa bin Salman Al Khalifa, who has close ties to the Saudi ruling family, is already in Riyadh, where he was quoted as urging closer integration.

“The great dream of the peoples of the region is to see the day when the borders disappear with a union that creates one Gulf,” he told Bahrain News Agency.

Gulf leaders also fear the Arab uprisings last year created more opportunities for Al-Qaeda to gain a foothold in Yemen, where the discovery of another alleged bomb plot was revealed last week.

Rajab said, however, that there were reservations among some GCC members over the idea of a closer union, and that it was too early to say if any agreement taken among Gulf leaders would require a referendum in Bahrain or not. Some members of the GCC fear a closer union might grant too much sway to the body’s largest member, Saudi Arabia. -Reuters

North Korea warned amid fears of nuclear bomb test

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Top Joseph Kony commander captured says Official KAMPALA, Uganda: A Ugandan army official says Ugandan forces have captured a senior commander of Joseph Kony’s Lord’s Resistance Army after a brief fight with rebels near the CongoCentral African Republic border.

Lt. Col. Abdul Rugumayo said Sunday that Caesar Acellam was captured Saturday with two other rebel fighters.

Rugumayo said they were in a group of about 30 LRA rebels. The others es-

caped. Although Acellam is not one of the LRA commanders indicted along with Kony in 2005 by the International Criminal Court, Ugandan officials say he was Kony’s top military strategist.

Kony recently became the focus of international attention after the US advocacy group Invisible Children made an online video seeking to make him famous.

US forces are helping Ugandan troops find Kony and his top lieutenants. -AP

Gunman kills Afghan peace council member

KABUL, Afghanistan: An assassin on Sunday shot dead a former highranking Taliban official working on reconciling Afghanistan’s insurgency with the government, a fresh blow to peace efforts on the day Kabul announced it was gradually taking the lead from the US-led coalition for providing security in much of the country. A gunman with a silenced pistol killed Arsala Rahmani as he was riding in his car in one of the capital’s most secure areas near Kabul University, police said. The death of Rahmani, a top member of the Afghan peace council and a senator in parliament’s upper house, dealt another setback to efforts to negotiate a political resolution to the decade-long war. Rahmani was a former Taliban official who reconciled with the government and was active in More on 5 trying to set up formal talks with the insurgents.

Shaven-headed young boys put their hands together under the lanterns during a service to celebrate Buddha’s upcoming birthday at Jogye temple in Seoul, South Korea, Sunday, May 13, 2012. (AP)

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ALWATAN DAILY

kuwait

monDAY, may 14, 2012

MP Al-Juwaihel denies spiting, swears on Holy Book Staff Writer

KUWAIT: Lawmaker Mohammad Al-Juwaihel explained the true story of what had really happened in the last parliamentary session following which a decision was made barring the Member of Parliament (MP) from practicing his parliamentary duties for two weeks.

The MP stressed that the next few days will be “impregnated” with shocking news, which he intends to reveal and disclose in due course against those who supported and endorsed the suspension, adding that it is time now that the Minister of Interior should apply the law against those people who hold dual nationality, otherwise he will propose a parliamentary interpellation against him.

As for the accusation that he spat on fellow MP Dr. Hamad Al-Mattar and that he came to the National Assembly while under intoxication, he said: “I swear on the Holy Quran that I had never spat on MP Dr. Hamad Al-Mattar and I have never attended the parliament while drunk. I defy anybody to prove otherwise. I defy them to swear on the Holy Book and State that I did spit and was drunk.” He said that the cameras recorded all the details of the session and challenged the accusers of submitting any tangible evidence against him.

The MP explained that what had really taken place was that he was having a conversation with fellow MP Adnan Al-Mutawwa when suddenly MP Al-Mattar was passing by at which point he was saying that he would “spit on any one who says that Kuwait is not for Kuwaitis.” To which MP AlMattar replied that he actually voted in favor for the decision. Al-Juwaihel then replied: “So, you would be included then.” MP Al-Juwaihel continued his version of the event by saying that the situation was obvious and Al-Mattar was not

intended per se in the “spitting” issue, but then “half way through the session, MP Al-Mattar began moaning saying that I spat on his face.”

Al-Juwaihel demanded the presence of the National Assembly General Secretary Allam Al-Kandari and MP Abdulhamid Dashti because both have witnessed the incident.

Al-Juwaihel expressed his surprise that the decision was taken without referring to opinions of witnesses who can testify contrary to Al-Mattar’s allegations.

MP Al-Juwaihel believes that the only reason behind the allegations and the determination to bar and suspend him from practicing his duties for two weeks was because those particular MPs are weary of the files and documents in his possession which according to MP Al- Juwaihel “shows that they are not Kuwaitis and yet they are members of the Kuwaiti Parliament.”

The MP went on to say that he is amazed at the double standard practices of some recalling how in his last interpellation he was insulted and cursed and yet no measures were taken against them.

Al-Juwaihel warned against the various accusations made against him saying that one of the latest was the claim that he doesn’t own his car and that it was given to him by some influential person.

“The next few days would be impregnated with some news. As for MPs Abdullah Al-Turaiji and Musallam AlBarrak, I say this to them. I am more than willing to go to forensics and carry out a test on us to find out who is truly the “stallion” here,” he challenged, adding that the parliamentary committees are so corrupt pointing out that one of the members of the Parliamentary Public Fund Protection Committee is “a thief by the admission of the committee head.”

MP Mohammed Al-Juwaihel denies spiting and swears on Holy Book on Sunday, May 13, 2012. (Al Watan)

Majority undecided over Al-Shamali’s interpellations continued from page 1

The Committee Rapporteur MP Mohammad Al-Dallal explained that the committee received from the National Assembly Speaker Ahmad Al-Saadoun a request to refer Al-Juwaihel for forensic examination to determine whether his condition was normal.

He added that another request was received pertaining to barring the MP from entering the National Assembly building.

Al-Dallal noted that the committee is required to compile a report about the violations in light of the Parliament’s Internal Charter and the Constitution, particularly since the issue at stake is “sensitive” and concerns all the lawmakers.

The MP, on the other hand, pointed out that

the committee has discussed the Constitutional Court bill and the proposed amendments related to the court’s structure, and the entitlement of all the parties, including the government, the Parliament, individuals and citizens to resort to it for redress. He added that the committee decided to complete discussions on the bill during its planned session on Tuesday.

Separately, the Legislative Committee agreed to lift the immunity of MPs Nabeel Al-Fadhl and Mohammad Al-Juwaihel. However, it rejected a similar request to lift the immunity of Musallam Al-Barrak and Abdulhameed Dashti.

In the meantime, MP Al-Juwaihel organized a press conference on Sunday during which he shed light on the incident that took place last Thursday. The MP swore by the Quran that he did not spit at MP Hamad Al-Matar, and vehe-

mently denied that he was intoxicated when he entered the Parliament. “I challenge all the MPs to swear by the Quran that they saw me spit or entered the Parliament drunk,” the controversial lawmaker said defiantly.

In other developments, a number of MPs representing the Popular Action Bloc came up with a range of proposals. One of the proposals entails that anyone who fails to appear before an investigatory panel should receive a threemonth jail sentence or be fined no more than 5,000 Kuwaiti dinars.

For his part, MP Riyadh Al-Adsani addressed a question to the finance minister, being responsible for customs, demanding answers about an alleged unauthorized arms shipment which entered the country via Saudi Arabia and the circumstances surrounding its entry.

Civil information authority provides locator system

Capital Governor: Saving power, water is urgent national duty to limit squandering Staff Writer

KUWAIT: Capital Governor Sheikh Ali Al-Sabah stated that saving water and power is not merely words used by the government to annoy people, but an urgent national duty that aims to limit squandering of water and power; especially that they have become a major concern to many countries.

He added that the government must offer citizens the basic means of living, such as water and power; but the citizen should also be responsible for saving them.

He went on to say that the success of the water and power saving awareness campaign relies on setting a plan that includes the collective efforts of all private and public institutions, in addition to people living in Kuwait.

Meanwhile, Ministry of Electricity and Water Assistant Undersecretary for Coordination and Follow up Affairs Khaled Baqer applauded the governor for his swift response to the request of holding this meeting, and asserted that the objective of this meeting is to reinforce the concept of saving water and power. He noted that his sector will switch of all air conditions and lights after the workday is over.

He hoped that such a step would be emulated by all government facilities. He asked cooperative societies to take advantage of their promotion campaigns through distributing flyers to customers, and to support the awareness campaign through various publications.

He also applauded the efforts exerted by the Ministry of Awqaf and its collaboration with the Ministry of Electricity and Water. He asked the ministry to preach saving water and power in religious classes.

He revealed that the ministry is planning to install smart power meters in the near future, which should control consumption.

He asked citizens to pay their due power and water bills.

It is worth noting that Al-Sebbeyya Station is one of the biggest power stations in Kuwait, and will contribute to meeting the demands of the population and economy growth. It will also meet the increasing demand for power during the months of the summer.

Q8 sponsors cycling events in Belgium

Public Authority for Civil Information representatives are seen during a press conference held on Sunday, May 13, 2012. (Al Watan) Mervat Abduldaym Staff Writer

KUWAIT: The General Manager of the Public Authority for Civil Information Musaed AlAssousi announced on Sunday the completion of the Geographic Information System project (GIS), indicating that the system will enable the authority to pursue achieving its distinguished role through the use of the best and modernist technological means. The system includes merging maps and set-

Screen shot of the GIS program that was launched on Sunday, May 13, 2012 in which helps locate buildings. (Al Watan)

ting aside enough data about buildings and other institutions, which are available in the system of civil information. He said, during a press conference he held at the headquarters, that GIS allows identifying and determining the places of buildings, houses, chalets, agricultural areas, industrial plots and government institutions very easily.

Al-Asousi affirmed that not only will the authority benefit from the new system, but other government institutions will have opportunity to benefit from it, including the Ministry of Public

Works, Ministry of Electricity and Water, Industry Public Authority and Environment Public Authority. The system enables users to determine the sites on the map through inserting the detailed address, part of the address, or the number of the building in order to locate it.

The system is available on iPad tablets to enable field employees to receive the daily tasks on more remote basis. The next stage of the project is to provide the system to for the public on the web and smart phones, said Al-Asousi.

Tribe chiefs hold forum, say tradition resemble constitution Nafel Al-Humaidan Staff Writer

KUWAIT: Media figure Farhan Al-Weqayan held a forum titled “Kuwait is the tribe” at the Diwaniya of Jahra on Saturday evening. The forum was attended by several chiefs of tribes such as Sultan Bin Hethlain, Musalet Al-Hathal, Ahmad Al-Mashaan Al-Jarba, Nasser Bin Madhi Al-Hajri, Falah Faisal Al-Deweesh, Mohammad Bin Ghaleb Bin Busayes and Methqal Al-Hassan.

The forum was also attended by the ambassador of Jordan to Kuwait Mohammad Al-Kayed and many other figures and journalists.

At the beginning of the forum, Mohammad Al-Weqayan voiced his appreciation to the attendees and the chiefs of tribes for their interest in the different cases that take place on the local arena. He said that tribes are considered to be one of the most important components of

the Gulf societies, indicating that the chiefs had always played an effective role during the Iraqi invasion for liberating Kuwait.

On his part Bin Hethlain disclosed that chiefs of tribes enjoy a prominent social status in the various Gulf States, adding that chiefs from Omani tribes receive a monthly salary in addition to enjoying a honorary political position that is equal to that of the minister.

He added that certain figures attempted to divide between the rulers and chiefs of tribes, as the many consultants surrounding the rulers exert hard efforts to keep the chiefs away from them.

Bin Hathal said that political parties and movements seek personal targets, while the members of the tribes obey their rulers and never oppose them.

Al-Hajri unveiled that the tribal traditions resembles a strong constitution, adding when in

crisis the members of tribes rush to protect their countries. On his part, Al-Jarba emphasized that members of tribes proved success in different fields, consequently a number of members hold higher degrees in various majors including masters and PhDs. Furthermore, Al-Deweesh said that the current status of the members of tribes is different from that in the sixties of the last century, where members were marginalized. He added that tribe members hold prominent positions at the present some of which include ministers, undersecretaries, assistant undersecretaries and many others.

Bin Busayes asserted that most Kuwaiti families belong to tribes and some figures attempted to stir sedition amongst members in fear of their power. They also fear the higher degrees that the sons of tribes obtained from well known universities.

ANTWERP: Kuwait Petroleum International (Q8), the international marketing arm of Kuwait Petroleum Corporation, is sponsoring a Belgian cycle team and has also launched initiatives to promote cycling.

“Q8 has signed on as a sponsor of the Belgian cycling team called ‘Omega Pharma-Quick Step’,” Katia Van Bouwel, Manager of Marketing and Communications at Q8 Belgium, told Kuwait News Agency (KUNA).

The team participates in cycling competition all over the world, she noted.

Moreover, Q8 sponsored two international cycling races in Belgium during

the month of April.

Q8 has also launched an initiative in Belgium to support anybody who rides a bicycle either to go to school or to work. It has set up a website for those interested to enter in a competition and win a cycle.

Q8 headquarters for North West Europe is based in the Belgian port city of Antwerp. It has over 385 petrol stations in Belgium, more than 100 in the Netherlands and about 45 in Luxembourg.

Q8-Belgium launched an initiative end of 2011 to help Somalia, in which its personnel collected donations of over 20,000 euros to help the African country, said Katia Van Bouwel. -KUNA

Passengers asked to cancel flights in case of no show

Sami Wadi Staff Writer

KUWAIT: The Directors of the different airlines in Kuwait asked all passengers to make sure that their tickets have been cancelled if they decide not to travel, or ‘no show’ due to certain circumstances. He told passengers that they have to cancel tickets at least 24 hours before the assigned time for the flight in order to avoid paying the cancellation fines, indicating that this fine is usually processed automatically by the electronic system shortly before the plane takes off.

The cost of fine doesn`t exceed 35 percent of the basic price of the ticket, said the directors. They also unveiled that if passengers change the timing of flight then they have to pay the assigned fees, which ranges between KD 10 to KD 12 for economy, about KD 25 for business class passengers, and KD 50 for first class passengers. Passengers might also need to pay more for rescheduling if the fare price is different. Therefore, fines sometimes exceed the basic price of the ticket if the passengers did not cancel the ticket 24 hours before the flight.

ALWATAN DAILY

KUWAIT

MONdAY, may 14, 2012

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31 suspects arrested in connection with Amghara fires Soud Al-Nabhan Staff Writer

KUWAIT: Thirty-one suspects were arrested in connection with the Amghara junkyard fires, Interior Ministry announced here Sunday.

Undersecretary for Public Security Affairs at the Ministry Major General Mahmoud AlDousiri told Kuwait News Agency (KUNA) after a meeting that 30 suspects were Asian nationals while one was an illegal resident.

He affirmed that security was tightened around the junkyard to prevent more similar incidents from occurring, adding that interrogations were carried out with the suspects to determine who was behind the fires.

Meanwhile, Minister of Commerce and Industry Anas Al-Saleh said, “The fire set in Amghara was deliberate and is a systematic sabotage of public and private interests, but we still do not know the motive or the reason.”

This came in a press conference held Sunday morning at the Public Authority for Industry, located in South Surrah, in the presence of Director of Kuwait Municipality Engineer Ahmad Al-Soubaih, Director of the Public Authority for Industry Dr. Ali Al-Modaf, Director of Kuwait Environment Authority Dr. Salah Al-Mudhi, Assistant Undersecretary for General Security Major General Mahmoud Al-Dousari and Jahra Chief of Staff Major General Ibrahim Al-Tarrah.

Al-Saleh said that a committee was

formed upon the instructions of His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah to discover the reasons behind the fire of tires in Rahiya area and to submit recommendations and suggestions which help to avoid the occurrence of such incidents. He said that the committee did not issue any decision however another fire erupted last Friday, which gave the impression that somebody is trying to tamper with general security.

Al-Saleh said that His Highness the Prime Minister gave instructions to transfer the AlAhali Scrap Yard to an area far from Saad AlAbdullah city. He added that the land allocated in Al-Shaqaya area hasn’t been prepared yet due to lack of services, which takes some time. He went on to say, “This forced us to find alternative land to be a temporary location for the scrap yard.” He expected that the said location will be approved by the Cabinet during its coming session.

Al-Saleh explained that the location in Al-Shaqaya reaches eight square kilometers, adding that two square kilometers will be allocated for the Al-Ahali scrap yard and six square kilometers will be allocated for the industrial area. He noted that it will take some time to prepare the land and build the infrastructure. He stressed that transferring the AlAhali scrap yard to a temporary location aims to protect the residents of Saad Al-Abdullah area. He noted that His Highness the Prime Minister gave clear instructions to address the crisis of the residents of the area and maintain their safety.

Photo of fire trucks at the Amghara scrape yard seen with smoke being emitted by the fire on Friday, May 11, 2012. (Al Watan)

National Assembly should be more active in support of industrial sector: Official KUWAIT: The Kuwaiti government is keen to diversify the economy to reduce the country’s dependence on oil and accelerate the process of industrialization. Kuwaiti industrialists are eyeing a more effective role for the National Assembly to resolve the accumulated problems obstructing this national goal.

“The Kuwaiti industrial sector faces many challenges,” Head of the Kuwait Industries Union Hussein Al-Kharafi said in an exclusive interview with Kuwait News Agency (KUNA).

He voiced hopes that the National Assembly (parliament) “would take responsibility towards this important sector and tackle all the problems through its legislative and monitoring powers.” “The lack of land plots for industrial projects, bureaucracy and red tape in government agencies as well as the absence of new industrial and storage zones” are examples of these challenges, Al-Kharafi stated.

He added that there is also a need to facilitate the work of environment protection agencies and other industry-supporting gov-

ernment bodies.

Al-Kharafi expressed hopes the approved plan for setting up the Shadadiyah industrial zone would help develop this sector.

Meanwhile, Wataniya Fiber Glass Reinforced Plastic Factory Company Chairman Badah Al-Herbesh urged more accountability of government bodies before the National Assembly. “The performance of some of these bodies is imbalanced and lacks long-term planning,” Al-Herbesh said.

“Due to this poor performance, the indus-

FM in Riyadh for GCC prep meeting

trial sector has been crippled with accumulative problems that require real and sincere efforts to address.” He also highlighted the importance of foreign investments in this field, pointing out the small number of projects that have been approved by the government in the past eleven years.

“The last approval for a big industrial project was in 1970,” he stressed.

Al-Herbesh asked the National Assembly to pass the draft laws submitted to it to support industrial projects and allure local and

foreign investments to this strategic sector.

Meanwhile, ex-chief of National Company for Consumer Industries Abdullah Al-Abbar said MPs should not interfere in the specialized affairs of the industrial sector.

“It should only monitor the performance through the data collected by relevant agencies,” he said.

Al-Abbar also called for facilitating the Kuwait private sector contribution to the industrial sector through cutting bureaucracy.

-KUNA

Kuwait warns against campaigning for Egypt’s candidates MANAMA: Kuwait has pledged a zero-tolerance policy towards organizing campaigns or using mosques to promote candidates in Egypt’s presidential elections.

As the May 24 date for the first round of the historic elections inexorably approaches, several Egyptians living in Kuwait have used mosques to encourage their fellow citizens to vote for Mohammad Morsi, the Muslim Brotherhood candidate.

However, Kuwait said that foreigners did not have the right to organize political rallies or to campaign for candidates and urged all expatriates to comply with the law.

On Friday, five Egyptians, three adults and two young men, were briefly detained

for distributing leaflets calling for casting ballots in favor of Morsi.

The police seized more than 1,000 brochures during the operation to break up a rally organized after the Friday prayers at a mosque in Kuwait City, local Arabic daily reported.

The five Egyptians said that they wanted the Muslim Brotherhood to win the presidential elections, the first to be held after former president Hosni Mubarak ceded power to the military in February 2011.

The police made them sign a pledge to refrain from engaging in campaigns to promote candidates or engaging in unlicensed political activism before allowing them to go home, the daily said.

According to security sources that

the paper did not name, Shaikh Ahamd Al-Humood, the interior minister, has told the interior ministry to ensure that mosques are not used to campaign for any of the candidates vying for the presidency in Egypt.

Egyptian imams preaching in Kuwaiti mosques have also been told to be neutral towards the elections and to avoid using their sermons to promote any of the candidates.

Presidential elections will be held in Egypt on May 23 and May 24, and the run-off between the two top candidates, if necessary, will be on June 16-17. The elections for Egypt’s one million expatriates registered to vote, mainly in the Gulf states, Europe and North America, began this weekend. -Agencies

Kuwait, Sudan seek closer cooperation

Deputy Prime Minister, Foreign Minister and Minister of State for Cabinet Affairs Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah (center) departing Kuwait on Sunday, May 13, 2012. (KUNA)

RIYADH: Kuwait Deputy Prime Minister, Foreign Minister, and Minister of State for Cabinet Affairs Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah arrived Sunday to partake in the Gulf Cooperation Council (GCC) Foreign Ministers meeting in preparation for the 14th GCC leaders Consultative Summit tomorrow.

The GCC leaders meeting will focus on the latest developments on the regional and international arenas.

The leaders will be briefed on the progress made in the GCC metamorphosis from cooperation to union in all domains of cooperation since the 32nd GCC summit, with emphasis being placed on King Abdullah’s initiative in this regard.

They will review the recommendations of the GCC ministerial council relating to a range of regional and international issues. -KUNA

Kuwait ‘world’s oil capital’ project garners support: Al-Arbeed KUWAIT: The initiative project of “Kuwait as the world’s oil capital for 2022” has been garnering much support from various corporate entities and individuals with many volunteering to help develop it, project leader Ahmad Al-Arbeed said here Sunday.

Al-Arbeed told Kuwait News Agency (KUNA) that the project was being supported by around 150 companies and individuals, noting that many ex-ministers and business personnel were interested in the idea.

Al-Arbeed said that he met last week with Minister of Public Works and Minister of State for Development Affairs Dr. Fadhel Al-Safar, briefing him on the goals of the project.

Al-Arbeed said his project has four stages, the first was the formulation of the venture. This phase has been completed with formation of teams of volunteers.

The second phase, he added, was to inform the society about the project.

The third phase, said Al-Arbeed, was achievement.

This means, the start of implementation. The fourth stage, meanwhile, was investment during which the project would be appealing to investors. There should be a maximum benefit from every oil barrel, he said.

“Instead of selling the barrel for only 100 dollars, it is sold for 400 dollars with the inclusion of oil industry and the extraction of byproducts.” Al-Arbeed wanted to make Kuwait as world’s oil capital through a sustainable and creative development environment.

The project depends on Kuwaiti workforce, integration between public and private oil sectors, thus contributing to transforming Kuwait into a regional financial and commercial hub. -KUNA

Embassy in Beirut denies shooting at building

BEIRUT: The Kuwaiti Embassy in Lebanon dismissed on Sunday recent reports saying that its building came under fire. Sources at the embassy told Kuwait News Agency (KUNA) local media reports claiming that unknown gunmen had lately fired at the building of the embassy were “un-

grounded and divorced from reality.” The source consequently urged mass media to ensure reliability and accuracy while reporting and to seek information from official sources. Earlier on Thursday, unidentified gunmen were reported to have opened fire at the Kuwaiti Embassy in Lebanon. -KUNA

KHARTOUM: Sudanese Minister of Antiquities, Tourism and Wildlife Hasabu Mohamed Abdel-Rahim met Kuwaiti Ambassador in Khartoum Suleiman Al-Harbi on Sunday to discuss Kuwaiti investments in Sudan and how to boost bilateral cooperation in tourism and wildlife.

Speaking to Kuwait News Agency (KUNA) following the meeting, Al-Harbi said he had discussed with the Sudanese minister Kuwaiti investments in tourism, especially hotels,

and how to draw more Kuwaiti investments to Sudan.

He added that they had also considered ways and means of reinforcing Kuwaiti-Sudanese cooperation in tourism, heritage and antiquities for the common interest of both countries.

The Kuwaiti ambassador hoped that both sides could further develop and boost their relations in such vital fields.

-KUNA

Education Ministry sponsors drugs addiction forum at local school KUWAIT: A forum held here Sunday at a local school in Hawali educational district to spread awareness on the negative effects of narcotics and drugs addiction.

Head of Hawali educational district Mona Al-Salal opened the event at the Ibin AlNafis intermediate school, saying that the ministry is keen on combating drugs and protecting the youth from it.

She said it was very important that

the society works with the educational system in fending off drugs and narcotics, noting that the state would support efforts on this level.

The school’s principal Sha’ban Hassan, on his part, attributed addiction to several reasons, indicating the lack of a healthy family atmosphere at home was one of the reasons that drives the youth towards drugs.

Secretary General of the National Drug Awareness and Prevention Project (Ghiras) Dr. Ahmad Al-Samdan affirmed that the committee was very keen on cosponsoring the event with the Education Ministry to directly address the problem on the school level.

The event will conclude tomorrow with a lecture on the dangers of addiction during adolescent. -KUNA

Group photo of Head of Hawali educational district Mona Al-Salal (second left), Secretary General of the National Drug Awareness and Prevention Project (Ghiras) Dr. Ahmad Al-Samdan (second right) and the school’s principal Sha’ban Hassan (right) on Sunday, May 13, 2012.

(KUNA)

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ALWATAN DAILY

regional

31 voters per minute

By Hossam Fathi

KUWAIT: After three days from the beginning of the voting process, the state of vagueness and lack of information that was witnessed at Egypt’s embassies and consulates is no longer the case. Although the instructions were received late by the embassies, but receiving them late is better than not receiving them at all.

Our embassies in the GCC exerted tremendous efforts to overcome the lack of information, and diplomats and other employees worked relentlessly to ensure a smooth voting process. I did not expect this high a level of professionalism, based on previous experiences; but what happened is a source of pride to all Egyptians, since those employees faced lack of information with unprecedented levels of coordination. I am referring to our embassies in Saudi Arabia, UAE, Qatar, Bahrain, and Oman. I will discuss Kuwait in detail. In Kuwait, we have 120,000 people who registered to vote. The number of those who voted reached 7120 during the first two days, which means that we still have 112,800 people who have not yet voted. This means that from now until the end of the voting period, we have an average of 22,560 people that will vote daily. This means that if the embassy works 12 hours continuously every day, potentially 31 voters need to vote every minute!

This is physically impossible and threatens to sabotage the efforts exerted by the employees during the first two days. The solution is either to extend the voting period for an additional week, or to vote through mail as per the embassy’s instructions. hossam@alwatan.com.kw Twitter:@hossamfathy66

NEWS IN BRIEF Israeli president released from hospital JERUSALEM: A spokeswoman says Israel’s 88-year-old president Shimon Peres has been released from hospital after hernia surgery. Ayelet Frisch said Peres was feeling well and preparing to work from home after his discharge on Sunday.

She said he would resume public appearances later in the week. The president underwent surgery Friday, shortly after returning from a week-long state visit to Canada where the hernia was discovered. -AP

Palestinian forces seize ex-fighter: Witnesses JENIN, West Bank: Residents of the West Bank city of Jenin say Palestinian security forces have arrested a prominent exfighter in a campaign of arrests that followed the death of its governor. They say masked security men seized Zakariya Zubeidi on Sunday. Zubeidi was a well-known militant who once battled Israeli forces, but was granted amnesty four years ago and co-founded a theater. They spoke anonymously for fear of reprisal. Palestinian forces have been rounding up suspects since the governor suffered a heart attack earlier this month after gunmen fired outside his home. The residents say Zubeidi may be related to the suspects. -AP

Two die in mine blast crossing from Egypt to Libya CAIRO: Two men were killed on Sunday and 29 other people were injured after their convoy that was illegally crossing from Egypt into Libya entered a minefield, a medical source said. Mahmoud Zahran, a Health Ministry official in the northern Egyptian city of Marsa Matrouh, said an Egyptian and a Sudanese man died when their vehicle, which was travelling in a convoy with two others, hit landmines inside Libya. Health officials and Egypt’s state news agency said all the injured were Egyptians, except for two Sudanese. Reports had earlier said the two dead were both Egyptian. -Reuters

Jordan editor charged with incitement freed on bail AMMAN: Jordanian military prosecutors on Sunday released on bail a local news website editor charged with anti-regime incitement, a judicial official told AFP. “Jamal Muhtaseb, chief editor of Gerasa News, was released today on bail,” the official said without elaborating. Muhtaseb was arrested after publishing a report on a graft probe into a 7 billion US dollar housing project. He was arrested and charged in April by the state security court after a report on his website quoted an unnamed lawmaker as claiming “lower house deputies had received royal directives not to indict a former minister for alleged graft.” -AFP

Abbas warns of ‘national disaster’ over hunger strikers

RAMALLAH, Palestinian Territories: Palestinian president Mahmud Abbas warned on Sunday of a “national disaster” if any of the 1,550 Palestinian prisoners on hunger strike in Israeli jails were to die. Abbas spoke as two of the hunger strikers, Bilal Diab and Thaer Halahla, entered their 75th day without eating, and after international rights groups and governments said they were concerned that prisoners could die if they continued to refuse food. “The situation of the prisoners is extremely dangerous,” Abbas told a meeting of the Palestine Liberation Organization’s executive committee.

“Some of them face real harm, and that would be a national disaster that no one can tolerate. I hope and pray to God that no one gets hurt because it would be a major disaster.”

Diab and Halahla are specifically protesting their jailing by Israeli authorities without charge under a procedure known as administrative detention. The broader hunger strike by around 1,550 Palestinian prisoners is intended to pressure Israeli prison authorities to end the use of solitary confinement and ease a wide range of restrictions, including on family visits and prisoner education. The protest has attracted widespread support throughout the Palestinian territories, and Abbas said he had raised the issue in discussions with Israeli negotiator Yitzhak Molcho and US Secretary of State Hillary Clinton. “These prisoners have a right to justice, and we are talking about the conditions of detention and the prison conditions that Israel is trying to ignore,” Abbas said.

“The issue of the prisoners is the most important issue we’re working on these days.” Palestinian sources say negotiations are under way with Israeli representatives on a package of measures to ease conditions for the 4,700 Palestinians held in Israeli jails. The measures would include restarting family visits for prisoners with relatives in Gaza, allowing detainees to resume studies and moving some inmates out of solitary confinement. -AFP

MONDAY, MAY 14, 2012

Syrian troops raid farming village in continued crackdown BEIRUT: Syrian forces killed at least five people in a raid on a farming village in the country’s northwest on Sunday while continuing to crack down on rebellious areas near the capital Damascus, activists said.

The continuing violence further undermines a UN-backed peace plan that is supposed to bring an end to the country’s 14-month-old crisis. The first step of the plan, a cease-fire that began on April 12, has had only a limited effect. This throws into doubt the rest of the plan, which calls for talks between the regime of President Bashar Al-Assad and those seeking to end his rule.

Sunday’s deaths followed a raid by regime forces on the impoverished farming village of Al-Tamana, about 55 kilometers (35 miles) northwest of the city of Hama. The Britainbased Syrian Observatory for Human Rights said five people were killed in the raid and that forces were torching homes.

Speaking via Skype from Hama, activist Mousab Alhamadee, said one local rebel leader was killed alongside five civilians.

“He was a hero in the Free Syrian Army who was trying to defend the civilians,” he said, referring to the umbrella group of local, antiregime militias.

The area, a plain of farmland along the Orontes River, is dotted with villages of Christians, Sunni Muslims and Alawites, the offshoot sect of Shiite Islam to which Assad belongs.

Alhamadee, who is from a village near AlTamana, said sectarian tensions were low before the uprising, but had gotten worse as Sunni villages like Al-Tamana joined the anti-Assad uprising.

He said most of the village’s residents had fled and regime forces were setting fire to houses and looting shops.

He and the Observatory also reported shelling in a nearby village, Hayaleen.

“The regime is trying to punish these villages and to put an end to this revolution as quickly as it can,” he said.

Syria’s uprising started in March, 2011, with protests calling for political reform. The government brutally cracked down on dissent, and many in the opposition have since taken up arms to defend themselves and attack government troops.

World powers have backed a peace-plan put forward by UN-Arab League envoy Kofi

An image released by the Syrian opposition’s Shaam News Network, released on May 13, 2012 shows the funeral of Red Crescent (Islamic equivalent to the Red Cross) volunteers carrying the coffin of Mohammed Al-Khodra in the restive town of Duma. (AFP)

Annan to end the crisis. But continuing violence has undermined the plan. More than 100 UN observers are currently deployed in Syria to oversee a truce between the government and armed rebels.

The daily death toll in Syrian has declined as the number of observers has risen, but few experts expect the UN plan to succeed in its

entirety.

Activists also reported government attacks in rebellious Damascus suburbs.

Omar Hamza said via Skype that three people were killed early Sunday by shells and machine gun rounds fired at Douma. The government was raiding other areas looking for activists, he said.

Alawite-Sunni fighting erupts in Lebanon port city TRIPOLI, Lebanon: Three people were killed when fighting erupted overnight in the Lebanese city of Tripoli between members of the Alawite minority loyal to Syrian President Bashar al-Assad and members of the Sunni majority, witnesses and security officials said on Sunday.

Rocket-propelled grenades and automatic rifles were used in the fighting in an Alawite enclave and surrounding Sunni neighborhoods in the port city, 70 kilometers (44 miles) north of Beirut.

“The clashes peaked at dawn. The sound of gunfire is still echoing in the city,” a Lebanese security official said.

The official Lebanese state news agency said a soldier hit by sniper fire was among those killed.

A statement from the army said reinforcements were being sent to the city and that troops were “pursuing armed men to return the situation to normality.”

A Reuters correspondent in the city said most of Tripoli’s main intersections were blocked by burnt tires and that the Lebanese army had deployed in an area separating the Alawite enclave from the rest of the city.

The fighting underlines how sectarian tensions in Syria can spill over into neighboring Lebanon.

A small Alawite minority is concentrated in Tripoli, a conservative Sunni city where many residents have been enraged by the Syrian government’s crackdown on the 14-month revolt against 42 years of rule by the Assad family and their Alawite establishment.

Syria’s Sunni majority is at the forefront of the uprising against Assad, whose sect is an offshoot of Shiite Islam.

Lebanese army soldiers are deployed in the Sunni Muslim Bab Al-Tebbaneh neighborhood in Tripoli, northern Lebanon, May 13, 2012. (Reuters)

Lebanon’s government, headed by Najib Mikati, a former businessman and a personal friend of Assad’s, has been among a few worldwide that have been supportive of the Syrian government during the crackdown.

Mikati is from Tripoli, where anger against Assad has been growing. The Syrian government has accused Islamist groups in Lebanon of backing insurgents fighting loyalist Syrian forces and of involvement in car bomb attacks on security targets.

For the past several days, followers of a Sunni Islamist group in Tripoli have been staging a sit-in protest against the arrest of a man whom the authorities said had been in contact with an unnamed “terrorist organization.”

The Islamists say the detainee, Shadi Al-Moulawi, was arrested because he was helping Syrian refugees in Lebanon who had fled the crackdown across the border.

A statement by Al-Jamaa Al-Islamiya, a big Islamist group in Tripoli, criticized the arrest of Moulawi as lacking due process, but the police said Moulawi was arrested after thorough surveillance.

Syrian troops withdrew from Lebanon under international pressure in 2005 after a 29-year presence, but Assad retains significant influence in the small but geopolitically important country through his main ally, the Shiite guerrilla group Hezbollah, the only Lebanese party that has an officially approved arsenal of weapons.

-Reuters

The Observatory also reported three killed in suburbs east of the capital, one of them a rebel commander.

Activist claims could not be independently verified.

The Syrian government did not comment on the reports and bars most media from working in the country. -AP

Attacks against security forces across Iraq kill 4

BAGHDAD: A series of bombings targeting security forces killed four people in two major Iraqi cities Sunday, officials said.

In the first attack, a parked car exploded near a police patrol in a main street in the center of the western city of Ramadi, police said. One policeman was killed in the morning blast in the city that was once an Al-Qaeda hotbed.

An official in the nearby Ramadi hospital said five other policemen were seriously wounded. Two passersby were also wounded, he said.

Several hours later in Baghdad, a suicide bomber detonated his explosive-rigged belt at a checkpoint after policemen suspected him of being an insurgent and opened fire.

Two Baghdad police officials said two policemen and a passer-by were killed and nine others including three policemen were wounded.

The casualties were confirmed by a medic at the capital’s Al-Yarouk hospital.

Earlier in Baghdad, double blasts took place in the southern district of Karradah. The first bomb, which was planted under a parked car, caused no casualties.

The second blast came a few minutes later as police and security forces rushed to the scene. It wounded six people including four security officers, police and health officials said.

All officials spoke on condition of anonymity because they were not authorized to release the information.

Violence has dropped across Iraq since the days when the country teetered on the brink of civil war just a few years ago, but deadly attacks still happen nearly every day. Insurgents launch frequent attacks on Shiites and security forces loyal to the Shiite-led government in an attempt to revive sectarian fighting in the country.

-AP

Yemeni forces press assault on Al-Qaeda bastion SANAA: Yemen forces pressed on Sunday with an assault to recapture the Al-Qaeda-held southern city of Zinjibar, advancing on two fronts amid air cover in fighting that killed six soldiers in two days, military officials said.

The offensive takes place as US drones have intensified raids against Al-Qaeda militants in other parts of the country, killing 12 in two attacks on Saturday.

Four soldiers were killed in overnight fighting with militants around Zinjibar bringing the total of army losses since the all-out operation was launched Saturday to six, a military official said.

“The fighting continues and the army is advancing towards Zinjibar,” the capital of the

southern province of Abyan, said the official on condition of anonymity.

“The death toll among soldiers has increased to six, while 18 others were wounded,” the official added.

He said that government forces have made progress on the southern and eastern fronts of the city, with troops reaching the Shaddad Fort, around three kilometers (1.8 miles) east of Zinjibar, and the Zinjibar Bridge, around one kilometer (0.6 miles) from the city.

Another military official said air raids on Sunday targeted Zinjibar and the neighbouring town of Jaar, while the artillery continued to pound the city.

The “wide offensive” began from three

sides and was supported by the air force and the navy, a military official had said on Saturday, adding that Defense Minister Mohammed Nasser Ahmed was overseeing the operation.

“The defense minister is supervising a military plan to regain control of the city of Zinjibar and (the neighboring town of) Jaar from Al-Qaeda gunmen,” he said.

Six fighters of the Al-Qaeda-linked Partisans of Sharia (Islamic law), were also killed in the attack on Zinjibar, said a tribal source in Jaar, to where the gunmen evacuate their casualties.

Air strikes on Saturday also hit Jaar, killing three Al-Qaeda gunmen and a civilian, and wounding three civilians, a tribal source said.

The air raids were to pave the way for advancing ground troops, said a military official.

Military units also attacked Jaar from the west, a military official said on Saturday, adding troops had reached the area of Kadama, on the outskirts of the town.

The militants took advantage of a central government weakened by an Arab Spring-inspired uprising to overrun Zinjibar in May last year. They also control Jaar and other parts of the province.

Yemen’s new president Abdrabuh Mansur Hadi, who was elected for an interim two-year term in a single candidate vote in late February, has pledged to rid Yemen of the extremist group. -AFP

ALWATAN DAILY

WORLD

mondAY, may 14, 2012

N. Korea warned amid fears of nuclear bomb test BEIJING: China, Japan and South Korea warned North Korea Sunday they will not tolerate further nuclear tests, the South Korean president said, amid fears that Pyongyang is preparing a third atomic blast.

Lee Myung-Bak made the remark after talks in Beijing with Chinese Premier Wen Jiabao and Japanese Prime Minister Yoshihiko Noda that also saw the trio decide to start free-trade area negotiations before the end of this year.

“Our three countries agreed that we will not accept further nuclear tests or further provocations from North Korea,” Lee told reporters after meeting with his two counterparts for 90 minutes.

The Northeast Asian leaders had been expected to put Pyongyang’s nuclear and rocket programmes high on the agenda for Sunday’s summit.

Fears of a third North Korean nuclear test have grown after a failed rocket launch by Pyongyang last month that the United States and its allies said was a disguised ballistic missile test banned under UN resolutions.

Satellite photos have recently shown work in progress at the Punggye-ri nuclear test site.

Noda called on the three countries to strengthen co-operation in order to “further prevent provocations” by North Korea in future.

Wen warned earlier Sunday that the region faced many “unstable” factors that made the situation hard to predict.

“The various parties need to use their wisdom, keep patient, and display goodwill to the greatest extent so as to ease confrontation and return to the right track of dialogue and negotiations,” the Chinese premier said.

China, long the North’s key ally, has been an advocate of seeking to put a stop to the isolated regime’s nuclear ambitions

Gunman kills Afghan peace council member in Kabul KABUL, Afghanistan: An assassin on Sunday shot dead a former high-ranking Taliban official working on reconciling Afghanistan’s insurgency with the government, a fresh blow to peace efforts on the day Kabul announced it was gradually taking the lead from the US-led coalition for providing security in much of the country.

A gunman with a silenced pistol killed Arsala Rahmani as he was riding in his car in one of the capital’s most secure areas near Kabul University, police said.

The death of Rahmani, a top member of the Afghan peace council and a senator in parliament’s upper house, dealt another setback to efforts to negotiate a political resolution to the decade-long war.

Rahmani was a former Taliban official who reconciled with the government and was active in trying to set up formal talks with the insurgents. His assassination follows that of the council’s head last year.

He was shot just hours before President Hamid Karzai announced the third of a five-stage transition process that will have the Afghan National Security forces in control of the country by the end of 2014, when most foreign combat troops are to leave the country.

Ashraf Ghani, who is head of a commission overseeing the transition to Afghan-led security, said this stage - which ends with the Afghans taking the lead for areas representing 75 percent of the population - should be complete within six months.

Earlier stages put Afghans responsible for 50 percent of the population of more than 30 million.

The transition process is a key part of NATO’s exit strategy from Afghanistan.

Karzai’s announcement came just ahead of a NATO summit in Chicago on May 20 and 21 where the training, funding and future of the Afghan National Security Forces will be a topic of discussion, along with the gradual process called “transition.”

“The completion of transition at the end of 2014 will mark the end of NATO’s combat role, but not the end of our engagement. NATO is committed to an enduring partnership with Afghanistan, and to providing the training which the Afghan forces will still need, beyond 2014,” NATO Secretary-General Anders Fogh Rasmussen said in a statement. “At the Chicago summit on May 20-21 we will take the decisions which will shape that future training mission.”

The transition process will allow most international combat forces to withdraw, leaving the Afghan security forces in control across the nation by the end of 2014. A smaller number of forces, including from the United States, are expected to stay on past that date in a mentoring, training and counterterrorism role.

“President Karzai’s announcement of the third group of areas to enter transition is a testament to the capacity and capability of the Afghan National Security Force who will now be responsible for the security of more than 75 percent of the Afghan population,” said Gen. John Allen, the top US and coalition commander.

Afghan security forces now number about 330,000 and are to increase to 352,000 by the end of the year. They are expected to take over much of the fighting as the US draws down an additional 23,000 troops to 68,000 by the end of September.

US troop levels reached a high of about 100,000 last year.

The third tranche covers 122 districts, and when complete will bring the total number of districts under Afghan control to 260 in all 34 provinces. All 34 provincial capitals are included in the third phase.

Afghanistan has about 400 districts nationwide.

Afghan security forces are expected to take the lead across the country sometime in 2013. -AP

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NEWS IN BRIEF Uganda nabs top LRA commander Achellam RIVER VOVODO, Central African Republic: Uganda has captured one of the Lord’s Resistance Army’s top five rebels, bringing it a step closer to catching Joseph Kony, the LRA leader accused of war crimes, the military said on Sunday.

Uganda People’s Defense Forces said Caesar Achellam, a major general in Kony’s outfit of about 200 fighters, had been captured in an ambush on Saturday along the banks of the River Mbou in neighboring Central African Republic. They said Achellam had been armed with just an AK-47 rifle and eight rounds of ammunition. He was being held with his wife, a young daughter and a helper.

-Reuters

Punk band arrest at heart of Russia church feud South Korea’s President Lee Myung-bak (left), China’s Premier Wen Jiabao (center) and Japan’s Prime Minister Yoshihiko Noda stand in front of their national flags during a joint news conference of the fifth trilateral summit in Beijing, May 13, 2012. (Reuters)

via multilateral talks.

The three leaders also agreed to start talks this year on a free-trade area, saying it would boost the economies of the entire region.

The issue has been on the trilateral agenda for the past decade, beginning with an agreement among the three in late 2002 to launch a feasibility study on a free-trade area.

Wen said closer regional economic integration, in response to a slow global recovery and an overall rise in trade protectionism, would help unlock new growth potential.

“Northeast Asia is the most economically vibrant region in the world. So there is huge potential for our three countries to have closer trade and investment cooperation,” he told reporters.

“The establishment of a free-trade area will unleash the economic vitality of our region and give a strong boost to economic integration in East Asia.”

China, Japan and South Korea combined would have the world’s largest economy -ahead of the European Union -- when measured by purchasing power parity, which takes into account differences in living costs across nations.

“Today, as we look at the global financial crisis, some countries are still pursuing protectionist ideas and have expanded them,” South Korea’s Lee said.

“I’m worried about this. By comparison, I believe the agreement between the three countries is an important thing.”

In Sunday’s meeting, the three nations also signed an investment agreement concluded earlier this year after 13 rounds of negotiations stretching over five years.

“To further facilitate mutual investment, it is important to have a legal framework. It will help our businesses and mutual investment,” Lee said.

Later in the day, Wen met Noda for bilateral talks, with both sides pledging to push ties between the world’s second- and thirdlargest economies further.

“Both sides must seize the opportunity, increase mutual trust... and push forward the healthy and stable development of relations between the two countries,” Wen told his Japanese visitor. -AFP

Greek efforts for coalition flounder ATHENS, Greece: Critical last-ditch talks to form a coalition government in crisis-struck Greece floundered once more Sunday, leading the country one step closer to new elections, although the socialist party leader said he retained ‘existing but limited’ optimism for a deal.

The political uncertainty has alarmed the international creditors who have given Greece billions of euros in bailout loans over the past two years, and has thrown the country’s continued presence in the European Union’s joint currency into serious doubt.

President Karolos Papoulias convened the heads of the parties that came in the top three spots in last Sunday’s inconclusive elections, in an ultimate effort to broker an agreement after a week of talks led to deadlock. The meeting ended without a solution, but the process continues while the president holds individual meetings with the leaders of smaller parties that made it into parliament.

Voters furious at the handling of Greece’s financial crisis and two years of harsh austerity measures taken in return for billions of euros in international bailout loans punished the formerly dominant socialist PASOK and conservative New Democracy parties in the elections.The two saw their support crumble to the lowest point in decades, while Radical Left Coalition, or Syriza, made big gains to come in second place after campaigning on an anti-bailout platform.

The PASOK and New Democracy leaders could form a coalition with the smaller Democratic Left party of Fotis Kouvelis - combined they would have 168 seats in the 300-member parliament. New Democracy won 18.9 percent last Sunday while PASOK garnered just 13.2 percent, compared to nearly 44 percent in the last elections in 2009. Kouvelis’ 6.1 percent put him in a kingmaker position, with 19 seats.

But all three insist any power-sharing deal must include Syriza, led by the 38-year-old Alexis Tsipras, given its strong showing at the ballot box.

Tsipras, however, insists he cannot join or even lend his support to a government that will continue implementing the terms of Greece’s international bailout. In return for euro240 billion in rescue loans from the European Union and International Monetary Fund, Greece has imposed severe spending cuts, including slashing pensions and salaries in the public sector,

Official: 49 bodies left on Mexico highway MONTERREY, Mexico: Forty-nine bodies, at least some of them mutilated, were found Sunday dumped on a highway connecting the northern Mexican metropolis of Monterrey to the US border, officials said. A law enforcement official said the bodies of 43 men and six women were found in the town of San Juan on the non-toll highway to the border city of Reynosa at about four a.m. (5 a.m.

EDT; 0900 GMT), but officials were still investigating. Authorities closed off the highway, blocking the way for hundreds of motorists, as federal and state police, joined by Mexican troops, sealed off the scene. The law enforcement official asked that his name not be used because he was not authorized to release the information.

The details, however, match reports in Mexican news media. -AP

Hollande’s camp sharpens tone before Merkel meet

A man watches the chart with stock prices at the Greek Stock Exchange in Athens, Monday, May 7, 2012. (AP)

and repeated rounds of tax hikes. The measures have left Greece mired in a fifth year of deep recession, with unemployment spiraling above 21 percent. “The three parties that have agreed on a two-year government in order to apply the bailout have 168 seats in parliament,” Tsipras said after the meeting. “Let them go ahead.

Their demand that Syriza participate come what may in their own agreement is senseless and unprecedented.”

Tsipras insists the terms of the bailout must be cancelled. PASOK head Evangelos Venizelos, who spent nine months handling the crisis as finance minister, and conservative leader Antonis Samaras, say that position is irresponsible and will force Greece out of the euro. Although Sunday’s meeting convened by the president with the three top party leaders was inconclusive, Venizelos said that “I retain some limited but existing optimism that a government can be formed.”

Samaras appeared more pessimistic.

“I made every effort for the cooperation of

all,” he said. “Syriza didn’t listen to the mandate of the Greek people and does not accept not only the formation of a viable government, but not even the tolerance of a government which would in fact undertake to renegotiate the terms of the (bailout) and the loan agreement.”

Tsipras, however, stuck to his position, insisting that supporting a pro-bailout government would be a betrayal of his pre-election platform.

Tsipras will also have his eye on recent opinion polls which show his party would gain strength if Greeks go to the ballot box again next month.

A poll published by To Vima newspaper Sunday indicated Syriza would come first in new elections with 20.5 percent of the vote - less than the 28 percent an earlier opinion poll published Thursday gave him, but still well ahead of New Democracy. Although it would not be enough to form a government, it would put him in the dominant position to form a coalition with smaller anti-bailout parties. -AP

Irish EU treaty foe re-emerges ahead of referendum

DUBLIN: Businessman Declan Ganley, a leading force in Ireland’s 2008 rejection of the EU’s Lisbon reform treaty, came out as an opponent of Europe’s fiscal pact on Sunday although polls show support for the new budget rules growing before a May 31 referendum.

Ganley’s charismatic personality and financial clout made him a formidable factor in Ireland’s initial rebuff of the treaty. But he made little impact when he launched another “no” campaign at a similarly late stage before a second Lisbon vote in 2009 when polls also forecast - correctly - a “yes” majority.

He had said he might support the latest pact if Dublin were given better terms for bailing out its banks but concluded on Sunday that it was “beyond unacceptable” that Ireland be asked to pass a treaty that does not cut the burden of its bank debt.

“The fact is that Europe, unluckily saddled with unfit leadership, finds itself suffering from a grey-suited tyranny of the mediocre. The latest fiscal treaty is another exercise in empty posturing,” Ganley wrote in the Sunday Business Post, announcing his Libertas political party’s entry into the debate.

MOSCOW: The skinny dissident is thrown headfirst into a police van by camouflage-clad officers. Nearby, a dozen bearded men bearing Russian Orthodox crosses and wearing skulland-crossbones T-shirts cheer on the cops. It’s the latest flare-up in a growing feud pitting supporters of the influential church, which sees itself as the nation’s spiritual guide, against opponents who say the church has sold out to Vladimir Putin - becoming an arm of his regime more interested in gold than souls. -AP

“It quite simply will not come remotely close to solving Europe’s economic crisis ... Europe has reached a point of insolvency, so realistically we must choose either to unite in a true federal democratic union, or unravel in an unpredictable manner that has the potential to turn dangerously ugly.”

Ganley failed in an expensive bid to turn Libertas into a pan-European political party in 2009 and win his own seat in the European Parliament despite running a high profile campaign.

He will join a handful of trade unions, the increasingly popular Sinn Fein party and a small number of left-wing politicians in the “No” camp, backed by just 31 percent of likely voters, according to the Sunday Business Post/Red C poll.

Supporters of the treaty, led by Ireland’s three largest political parties as well as business and farming groups, number 53 percent, a rise of six percentage points in two weeks, while 16 percent of voters remain undecided.

The main aim of the so-called “fiscal compact”, signed up to by all but two members of the 27-nation European Union, is to enforce

more budget discipline by writing fiscal rules into law.

The treaty needs the approval of only 12 of the 17 euro zone countries to be ratified. But an Irish rejection would undermine one of Europe’s key plans for overcoming a debt crisis that raged on last week with Spain and France coming under intense pressure to deepen their deficit cuts.

Debate in Dublin has focused mainly on a clause that allows access to Europe’s new bailout fund only to states that ratify the treaty something Finance Minister Michael Noonan has described as an essential backstop to Dublin’s plans to return to bond markets.

Ireland, bailed out by the EU and International Monetary Fund 18 months ago, needs to start issuing long-term debt again over the next 12 months if it is to exit the bailout on schedule at the end of 2013.

Ganley agreed with other opponents of the treaty that Europe would not dare cut Ireland off from official funding, arguing that an Irish default would cause a huge crisis on the continent and that it needs Ireland both in the euro and well-funded. -Reuters

PARIS: French Socialists said on Sunday that austerity was pushing the European Union toward economic ruin and warned Germany to accept changes to a budgetary treaty, raising tensions days before president-elect Francois Hollande takes a maiden trip to Berlin.

Hollande, who will be sworn in as president on May 15, is due to take off shortly after the ceremony to meet German Chancellor Angela Merkel in his first trip abroad designed to highlight the continuity of Franco-German relations.

Merkel has said the trip would not yield any political decisions and both leaders, who have never met, have described it as a low-key encounter to get acquainted and share views on the European situation before a summit of leaders in late June.

But Hollande’s party, which may rely on support from Greens and the far-left to govern, raised the stakes and piled pressure on the new president to act tough by vilifying Merkel’s leadership and pounding home the need to re-examine the pact.

“She (Merkel) cannot be the sole decider of Europe’s fate based on German interests,” Socialist Party spokesman Benoit Hamon said on France 3 television.

As the Socialist Party prepares for parliamentary elections on June 10 and 17, pressure has grown on Hollande to sound tough in early exchanges with Merkel so he can prove to voters that France intends to make its pro-growth views heard in Europe.

Adding to the party’s arguments against German-led austerity are political uncertainty in Greece, warning signs over Spain’s economy and a looming election defeat for Merkel’s conservatives in the western state of North Rhine-Westphalia.

Yet Merkel, who remains popular at home, has stood firm against the idea of restarting talks on the hard-fought pact, rejecting calls for economic stimulus and urging partners to enact structural reforms instead.

“What we are saying, and we want Mrs. Merkel to hear this message, is that we will renegotiate the treaty, or it will not be not ratified, and that is all.”

Asked whether there was a risk of a clash with Germany, Hamon said: “Who is risking a clash if not Mrs. Merkel, who is pushing forward the date of ratification of this text by the German parliament and is asking the Italians to do the same?”

Three days before Hollande unveils his cabinet, with Germanophile JeanMarc Ayrault a likely pick for prime minister, 2007 presidential candidate Segolene Royal also waded into the debate calling for the European Central Bank to support growth. -Reuters

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ALWATAN DAILY

OPINION

monDAY, may 14, 2012

The futility of elections in our country Mufaraj Al-Barjas Al-Dousary

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recent news report that was published in local newspapers literally sent shockwaves in the hearts and minds of Kuwaiti citizens across the length and breadth of the country. In that report the Kuwaiti government announced its deep regret over its inability to pay the salaries of citizens employed in the government sector if the prices of oil dipped below 100 US dollars a barrel.

And although it is common knowledge that citizens employed in the government sector are among the highest paid than any other sectors or private enterprises, it is also a confirmed fact that government employees spend their entire salaries within the very first ten or fifteen days of their salaries deposited in banks since they have no other sources of income other than their monthly salaries. This is probably the main reason why most, if not all, citizens employed in the government sector are petrified at the very thought or mere mention of oil prices dipping below $100.

Ironically, these are those very citizens who prefer to seek even the most basic treatments at private hospitals -- not because they charge exorbitant fees and charges; or for the quality of treatment offered, or for the luxurious five-star services rendered there -- but simply because they do not want to stand in long serpentine queues at public hospitals; patiently waiting their turn to see the concerned doctors with some 150 other patients ahead of them. Just consider this: First they are compelled to wait

When will the realization finally dawn on them that they are expected to lead the country and its citizens forward and not drag them down a long dark tunnel.

winding queues to see a doctor, after which (depending on the nature of the ailment) they are then sent to the various other departments to undergo various other tests, like blood tests, urine and stool tests, x-rays etc., all of which require patients to wait in longer queues.

The wait does not end there as they then have to return to the clinics/hospitals once again to collect the reports of all those tests that they underwent and then wait in queues once again to show the results of those tests to the concerned doctors. That done, they have to then proceed to counters at the clinics/hospitals to collect medicines prescribed by doctors. The entire experience itself is so exasperating; bearing in mind the underlying fact that people who visit clinics and hospitals are basically sick and all those prolonged periods of waiting endlessly only tend to aggravate their ailments even further.

The angst of patients visiting government hospitals to seek succor and relief from their afflictions is not the only scourge witnessed in this resourceful country which; despite being privileged, lags far behind than most under-

privileged and underdeveloped countries. In fact, even the political situation in the country leaves much to be desired as is evident in the fact that there are altercations witnessed among members of parliament and ministers during each and every session. I am not implying here that politicians in countries across the world do not squabble with one another during sessions; of course they do since that is the actual purpose of the entire process but the situation in Kuwait is entirely different since our politicians have firmly entrenched the thought in their minds that they have to “agree to disagree’ over anything and everything.

Our representatives are simply not expected to garner any achievements other than engaging in senseless and extended speeches while inciting hatred among members of the community and promulgating sectarian differences.

Just attend any of the ongoing parliamentary sessions and you will know exactly what I mean. All that our representatives are expected to do is hurl verbal accusations at one another, scream down the throats of their opponents and launch vicious attacks in the event that other representa-

Mysterious fires sparked by invisible arsonists?

tives are not in conformity with their views.

It is even worse when they start swearing and cursing each other to a point that they have now even embarked on spitting on each other as was witnessed in the last parliamentary session when an enraged MP after a vociferous argument with his colleague turned around and spat on him incurring the wrath of other colleagues who chided him for his irrational behavior.When will these representatives who are expected to set glowing examples to others see the futility of their appalling actions? When will they learn to speak the language of humility, modesty and cooperation? When will the realization finally dawn on them that they are expected to lead the country and its citizens forward and not drag them down a long dark tunnel out of which there is no return to civilization?

It is a confirmed fact that we citizens will keep witnessing and be compelled to go through this nightmare day in and night out. We will be compelled to stand in all those long serpentine queues for eternity until we finally hear our token numbers being called out saying: “It’s finally your turn” after waiting for so long that it almost seemed like an eternity.

One can well imagine the sigh of relief breathed by those whose turn to be served is finally announced; while all those that are still deemed to stand in those never-ending queues will surely be prompted to voice that dreaded statement: “Let us hope and pray to God Almighty and beg Him to curse the very elections that elevated our representatives to those seats in parliament.”

MINISTER

THE CAUSE OF THE PROBLEM

I earnestly hope that these arsonists are apprehended and brought to justice before their acts tend to become a habitual and deliberate recurrence every single Friday.

Ahmad Mohammad Al-Fahad

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t does not take a genius to be a modern day Sherlock Holmes (the bumbling detective whose legendary stupidity or intelligence whichever way one chooses to describe it) led him to think that it was his ingenuity that led to solving several crimes whereas it was actually his assistant; the intelligent Dr. Watson, who managed to solve them all. In this context, I think our country is in dire need of an exemplary and sharp-witted Dr. Watson who can solve the mystery behind the various blazes that have swept the country over the past several days while the offender/s are still somewhere out there probably working on executing their next course of action.

Kuwait must be the only country in the world that has witnessed three consecutive fires in the same place and probably at the same time every Friday and while the offender/s must be working on some kind of clockwork precision where the venue, time and day is concerned, the culprits are still roaming the streets free and are probably under the erroneous impression that they will never be apprehended by the law.

Diwaniyas across the length and breadth of the country are abuzz with discussions about the origins of those fires and the culprits while they must be surely wondering the reasons why it is taking so long for the Interior Ministry to arrest the arsonists.

Weren’t there any witnesses at the scene of crime? Has the Interior Ministry even managed to summon any suspects? Have they even pinpointed the sequence of events witnessed in those fires? And although I personally do not know the answers to all those questions that are lingering in the minds of concerned citizens; I am definitely certain that this is indeed cause for alarm since; if those miscreants can manage to get away with such a crime, they can also get away with more dangerous acts of sabotage, the consequences of which will surely be horrendous. I earnestly hope that these criminals are apprehended and brought to justice before their acts tend to become a habitual and deliberate recurrence every single Friday.

Dwelling on another issue, scholar Ali Al-Ameen posted the following blog on Twitter: “Three different entities begged Allah Almighty to consider their woes: a deserted mosque, a deserted book and a deserted scholar” and then posed the question: “Does Al-Sayed Hassan Nasrallah know that a mosque was destroyed in the July devastation of a city and is still in ruins because the ally did not want to build it?” I urge all those Kuwaiti traders who usually send huge donations to Al-Sayed Nasrallah and the resistance to divert their donations to help restore the mosque instead.

I’d also like to extend and offer my heartfelt condolences to former minister and MP Ahmad Yaqoub Baqer and his family on the sad and untimely demise of his son Suliman. I pray to Allah Almighty to forgive the dear departed and rest his soul for all eternity in heaven.

May the Almighty also grant the bereaved family the strength and solace to bear this irreparable loss.

I am personally acquainted with the honorable MP Dr. Hamad AlMatar since 1994 at a time when he was chairman of the Science College Society at Kuwait University and right through the time when he was appointed as a professor at Kuwait University.

We also maintain constant contact during various occasions and can assure one and all that Dr. Hamad Al-Matar has never changed in attitude. Even to this day, he is known by one and all to be a polite and respected personality just the way he was while at the university.

Last, but not least, I sincerely urge the leader of Al-Wifaq Bloc Ali Suliman to give us his opinion about the general cooperation that exists between Iran, Iraq and the union witnessed among countries in the Gulf Cooperation Council -- especially between Bahrain and Saudi Arabia. Or can I simply assume that it is not permissible to talk about such issues?

MP

CITIZEN Mohmmed Thallab

The conspicuous vacuum witnessed in leaderships -- Part II Dr. Shamlan Yousef Al-Issa

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urther to the article that was published in the May 11, 2012 edition of this newspaper with regards to the views expressed by American writer Thomas Friedman in the New York Times about the new sense of reality witnessed in the Arab world after revolutions swept through countries in the region, Friedman confirmed that these revolutions failed to inspire and bring efficient leaders to the forefront who nurse different views. To cite a case in point, he compiled an effective comparison between all those Arab dictators that ruled the Arab world for more than fifty years and came to the subsequent conclusion that dictators in the Arab world were downright tyrannical since they did not nurse any visionary concepts like their contemporaries in Southeast Asia, particularly in South Korea and Taiwan.

The dictatorial regimes (despite being military-oriented) in those countries, took the initiative of developing and enhancing their economies, upgraded their educational processes and focused strongly on exportoriented policies that enabled them to create a strong middle class which in turn; paved the way for the return of democratic rule in those countries. Friedman posed several questions to all those new Islamic leaders who grabbed power and authority in the Arab world today, and advised them to disclose the actual facts to their peoples. He said that although it is an uncontested fact that Islam is indeed an illustrious religion, its tenets can never be considered to contain effective answers to economic problems.

To cite a case in point, he said no religion actually advises its faithful that they have to work and be productive if they need to earn their livelihoods or that governments should cease to support policies of subsi-

dies to its citizenry and in fact impose taxes for services rendered to them or the other fact that citizens should be encouraged to give to their countries instead of the other way around. In this context, can we expect such governments to face the existence of the new reality on the ground? Who is expected to enlighten the people about this basic reality? Capitalism that existed in countries across the Arab world some twenty years ago was downright horrendous to the extent that it actually encouraged the spread of corruption and expedited the deterioration of economies. How then are we expected to resolve a situation that we ourselves have created?

Can we expect countries in the Arab world to return to the scourge of socialism or do we actually need a capitalist system of governance that takes into account all existing market trends and focuses on new economic policies that are based on an export-oriented system of governance?

Who can we actually expect to make Arab youths aware of the underlying fact that they too are blessed with a plethora of talent just like all other youths in countries across the world and that the only thing that have to do is tap into the resources of those talents and put them to good use? These young people have successfully contributed towards igniting, overseeing and then finally realizing the successful outcomes of revolutions in their respective countries but the actual need of the hour today is to set a good education policy in place in desperate attempts to encourage our youths to be on par with those that are employed in the private sector simply because it is healthy competition that increases the quality of services rendered.

In fact, at this point of time, our Arab youths should actually concentrate on studying more because the usual trend of seeking or even gaining employment in the

government sector has simply ended.

The writer also highlighted the scourge of sectarianism that is rampant in countries across the Arab world; most importantly the Sunni-Shiite conflict that has divided Arab citizens in countries like Bahrain, Iraq and Syria while it has also divided the Jordanian people into Urbanites and Bedouins; not to mention another reality that has segregated the citizens of Egypt into Coptic Christians and Muslims. These sectarian issues have prevented the emergence of new leaderships in all those Arab countries that have witnessed bloody revolutions through the Arab Spring. In other words, at this current point of time, the need of the hour is to have charismatic leaders like Nelson Mandela or Martin Luther King who can; not only unify the peoples but heal their wounds as well.

It is also an established fact that countries on the Arab world suffer from a conspicuous absence of pluralism within the parameters of their respective societies. This deep void must be filled in as soon as possibly simply because without pluralism, countries across the Arab world will stand to lose their tolerance and which in turn will cease the emergence of new and creative ideas. Inducting a younger breed of leaders in countries like Jordan, Morocco and the United Arab Emirates, for instance, can surely pave the way towards the promulgation of a newfound legitimacy in attempts to lead their people towards change and surge ahead with a kind of dedication and passion that will only lead to a better and more prosperous future for their nations and citizens as well. All this and more can be accomplished if we get working right away to achieve all the goals that we have set for ourselves before the enemies of the state start implementing their own twisted agendas on the people just to realize their own vested interests.

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views

monDAY, may 14, 2012

Francois Hollande meets the world

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How dumb rules can mitigate model risk Felix Salmon Reuters

A modern trading desk is a bit like a high-tech airplane: nearly all of the time, you’re better off trusting your instruments than trusting your gut.

France’s outgoing president Nicolas Sarkozy (right) and president-elect Francois Hollande (left) attend a ceremony marking the 67th anniversary of the Allied victory over Nazi Germany in World War II, on May 8, 2012 at the Arc de Triomphe in Paris. While Merkel has welcomed Hollande’s ideas for a growth plan for Europe. Hollande, too, will have to make concessions, analysts said. (AFP)

Noëlle Lenoir Project Syndicate

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hen François Hollande, fresh from his election as France’s next president, was asked by a journalist which language he would use when he meets US President Barack Obama for the first time, his answer was revealing. “I speak English more fluently than the former president,” the Socialist leader insisted, referring to the outgoing Nicolas Sarkozy. “But a French president must speak French!”

In proclaiming his mastery of the lingua franca of global affairs, Hollande was asserting himself as a modern statesman, while also suggesting that France will remain as influential as possible on the international scene. Indeed, he was proclaiming his commitment to internationalism and multilateralism. In order to remain a country that punches above its weight diplomatically, it is in France’s interest to operate through international organizations rather than to rely on bilateral relationships.

Hollande is also aware that, for historical and cultural reasons, France’s international role must be different from that of other countries. In his book Changer de destin (Changing Destiny), published in February, he affirms that France’s message will continue to be a universal one - a stance reminiscent of the birth in 1789 of the French Republic, which, like the United States, was originally conceived as the triumph of liberty and democracy.

Unlike in France, however, the word “socialist” is an epithet for most Americans. But this could be a source of strength for Hollande, who, as a new leader with no foreign-policy experience, will have to prove his ability through action. And here, Obama, in particular, will soon understand that Hollande has no intention of bringing sweeping change. On the contrary, his intention will be to

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appear as a reliable and unsurprising partner.

Hollande is unlikely to be less friendly with America than was Sarkozy, regarded by many as France’s most pro-US president. Hollande supported the military intervention in Libya in 2011, and has joined the condemnation of Syrian President Bashar Al-Assad’s regime. One of his close political allies recently declared that should the United Nations Security Council approve military intervention in Syria, France “could envision” participating in that effort. Hollande also supports a tough line on Iran and, regarding the Israeli-Palestinian conflict, his book indicates that he subscribes to the “Clinton parameters” - two states with secure borders and a status for Jerusalem that is acceptable to both sides.With regard to relations between France and the Arab world, one can be certain that Hollande would agree with the pro-engagement thrust of Obama’s 2009 Cairo speech.

Last but not least, Hollande is not likely to call into question Sarkozy’s decision in 2009 to reintegrate France into NATO’s military command. That decision remains controversial in France, including among Socialists, but Hollande is well aware of the weaknesses of a European defense policy that simply cannot compete with NATO. Nevertheless, at the NATO Summit in Chicago at the end of May, Hollande will confirm his pledge to withdraw French troops from Afghanistan by the end of 2012, two years ahead of the NATO timetable (though he recognizes the need to negotiate the practical details). This will be an important test of Hollande’s ability to deal effectively with allies.

The second test of his ability to negotiate with other leaders will be within Europe. One of the highest-flying proposals of his electoral platform was a call for renegotiation of the European Union’s new “fiscal pact,” endorsed by all member states with the exception of the United Kingdom and the Czech Republic. Inspired by German Chancellor Angela Merkel, approval of the pact was a precondition for Germany’s participation in the financial rescue plan for Greece and the other distressed eurozone countries.

Hollande’s proposal was initially regarded as lèse-majesté against Germany. Now all European leaders - from Mario Monti in Italy to Mariano Rajoy in Spain and Elio Di Rupo in Belgium - agree on the need to revive the European economy. So do Mario Draghi, the president of the European Central Bank, Jose Manuel Barroso, the president of the European Commission, EU Council President Herman Van Rompuy, and, indeed, Merkel herself.

Merkel and Hollande will discuss the main question - how to spur economic growth without increasing public debt - on May 16 in Berlin.

While Merkel opposes Hollande’s proposal to create Eurobonds with a view to financing industrial projects, they cannot afford to waste time in reassuring jittery markets with a message of cohesion.

Merkel has already welcomed Hollande’s ideas for a growth plan for Europe. Hollande, too, will have to make concessions.

For the French, as for all Europeans, the EU is not a foreign entity, and its decisions are an integral part of domestic policies. In this regard, Hollande has a chance to succeed on the international scene as a truly pro-European leader. Only a stronger Europe will ensure fair trade with emerging countries, especially China. Only a stronger Europe will at last implement the principle of reciprocity in order to protect European businesses and prevent them from relocating, which has been the main cause of unemployment.

In a recent interview, Hollande declared that, “France is not just any European country, and its president is not just any world leader.” The French are happy to hear that. But that affirmation also represents Hollande’s main challenge: ensuring that this remains true in the context of twentyfirst-century globalization. * Noëlle Lenoir, a former French minister of European affairs, was the first woman appointed as a Justice on the French Constitutional Court.

She is President of the Cercle des Européens, a European think tank, and partner in the Paris law firm Kramer, Levin, Naftalis & Frankel.

e’re still not much the wiser on exactly how the London Whale managed to lose $2 billion this quarter, but I think Matt Levine has the smartest take. (This is why the blogosphere is so great: it’s full of people who used to do this kind of thing for a living, rather than just people who write about people who do this for a living.)

The key thing to note here is that while the monster hit to the P&L is what got all the headlines, the real problem here lay with JP Morgan’s risk models. A hint of far out of whack they are is given in the difference between the bank’s earnings release, which showed 67 million US dollars of value-at-risk in the Whale’s division in the first quarter, and the new SEC filing, which showed that number as actually being $129 million. Here’s Levine: This was attributed to modeling changes made over the last year, and someone asked on the call “why did you change the VaR model?,” but I’m not convinced that’s exactly the right question. This, I suspect, is not an issue of a thing called a “VaR model” that sits in a central location and spits out numbers for regulators and 10-Qs; rather, this looks like the CIO’s trading desk modeling the actual P&L and risks of the trade wildly wrong. That seems to me like the simplest way to lose a billion dollars without noticing it. I’d put this another way. JP Morgan’s Bruno Iksil, it seems, managed to find an incredibly profitable way of hedging the bank’s positions. Like any other economically rational actor, when he saw a lot of dollar bills lying on the sidewalk, he decided to pick them up.

But in Iksil’s highly-complex world, a dollar bill isn’t really a dollar bill. Instead, it’s the output of a model.

And if a trader can’t trust his model, he’s flying blind. The problem is that pretty much by definition, it’s impossible to model a model risk. We now know that Iksil’s model was deeply flawed. And indeed the minute that the rest of the world found out about his positions, they didn’t really pass the smell test: it’s very hard to see how writing an enormous amount of protection on an off-therun CDX index would hedge anything much. This is where grown-ups like Jamie Dimon are meant to step in. If they see billions of dollars in super-senior mortgage exposure, or in off-the-run CDX exposure, they’re meant to say “I know that your highfalutin’ models say that these exposures are risk free, but I don’t understand how this isn’t risky, so go unwind this trade”. Dimon has historically been very good at that - very good at refusing to simply trust that superstar traders earning eight-figure bonuses are doing nothing that might blow up in their faces. In this case, however, for some reason, he had blind faith in Iksil - and in Iksil’s models, which proved to be very faulty.

A modern trading desk is a bit like a high-tech airplane: nearly all of the time, you’re better off trusting your instruments than trusting your gut. But at the same time, if your instruments are broken, then trusting them can lead you to fly straight into the ocean. This is why Basel I turned out to be much more robust than Basel II. Your sophisticated platform needs to be built on a foundation of dumb rules: simple limits on how big any one position can get, on how much exposure you can have to any one counterparty, or in general on any trade which is based on the hypothesis that your desk is smarter than anybody else on Wall Street. Those kind of rules won’t prevent all blow-ups, of course, but they’ll help. They would have prevented this one, and they would have put an end to Jon Corzine’s disastrous MF Global trades, as well. The problem is that traders hate dumb rules, because they cap the amount of money they can make.

And traders have enormous power at investment banks these days, because they make the lion’s share of the profits. That’s why it’s important that the CEO of an investment bank not be a trader. And certainly it’s crucial that the CEO shouldn’t have his own trading account and buy and sell from his Blackberry during meetings, as Corzine did. That’s just a recipe for disaster. * Felix Salmon is a Reuters correspondent. The views expressed here are his own.

Romney versus Obama

Above all, sophisticated voters will themselves be emotionally intelligent enough to be prepared for surprises.

Joseph S. Nye Project Syndicate

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hile the presidential primary elections in the United States are not over, Mitt Romney is now almost certain to be the party’s nominee to face Democratic President Barack Obama in November. As Governor of Massachusetts, Romney built a record as a competent and moderate conservative, a political profile that suited him to the state’s electorate. But the Republican Party’s far right wing dominates the primaries, so Romney has worked hard to escape the “moderate” label by staking out very conservative positions. Now, as the party’s presumptive nominee, he must move back toward the political center, where the majority of voters are to be found.

So which is the real Mitt Romney? And how can voters judge the two candidates? Obama has a proven track record, albeit one that has disappointed many who voted for him in 2008. Of course, his supporters argue that he had to adapt to two ongoing wars and the worst recession since the 1930s. Moreover, after the 2010 mid-term elections, a hostile Republican-controlled House of Representatives blocked his initiatives. Romney, for his part, will hold up Obama’s early, still-unmet promises, while Obama will call Romney a “flip-flopper” who changes his positions to suit the moment (and the audience). In fact, the difficulty of predicting the eventual winner’s performance in office is not new.

In his 2000 presidential bid, George W. Bush famously promised “compassionate conservatism” and a humble foreign policy, but governed very differently, as when he decided to invade Iraq. Likewise, Woodrow Wilson and Lyndon Johnson campaigned on promises of peace, but each took America to war shortly after being elected. Do such post-election changes in direction make a mockery of democracy? How can voters make intelligent judgments when campaigns are so carefully scripted and slickly promoted?

Leadership theorists suggest that we should pay less attention to leaders’ policy promises than to their emotional intelligence - their self-mastery and ability to reach out to others. Contrary to the view that emotions interfere with clear thinking, the ability to understand and regulate emotions can result in more effective thinking. As Supreme Court Justice Oliver Wendell Holmes reputedly quipped after meeting Franklin D. Roosevelt: “Second-class intellect, but first-class temperament.” Most historians would agree that Roosevelt’s success as a leader rested more on his good nature than on his analytical skills.The energy and optimism

People listen to US President Barack Obama speak at the College of Nanoscale Science and Engineering at the University at Albany, New York, May 8, 2012. Obama delivered an address that focused on the economy and job creation, two issues in central themes of the race against presumptive Republican candidate Mitt Romney. According to a recent poll, Obama holds a 22-point lead over rival Romney in New York State. (AFP)

that he unleashed in his administration’s first hundred days did not reflect concrete policy proposals in his campaign.

Psychologists have wrestled with the concept of intelligence, and how to assess it, for more than a century. General IQ tests measure dimensions of intelligence such as verbal and spatial dexterity, but IQ scores generally predict only about 10-20 percent of success in life. And, while experts disagree about how much of the other 80 percent is attributable to emotional intelligence, they generally agree that it is an important and learnable skill that increases with age and experience, and that individuals possess it to varying degrees.

Leaders work hard to manage their public images which require some of the same emotional discipline and skill that successful actors possess. Ronald Reagan’s experience in Hollywood served him well in this regard, and Roosevelt was a master at image management. Despite his pain and difficulty in moving on legs crippled by polio, he main-

tained a cheery exterior and avoided being photographed in a wheelchair.

Whether they realize it or not, leaders always convey signals. Emotional intelligence involves the awareness and control of such signals, and the self-discipline that prevents personal psychological needs from distorting policy. If emotional intelligence is inauthentic, others will likely find out in the long run.

Richard Nixon, for example, was strong on cognitive skills, but weak on emotional intelligence. He was able to strategize effectively on foreign policy, but was less able to control the personal insecurities that eventually led to his downfall - a shortcoming that emerged only over time. Indeed, it was not until well into his presidency that the public learned of his infamous “enemies list.” Bush showed emotional intelligence in midlife by mastering his problems with alcohol, and in displaying the courage to persevere with unpopular policies. But, at some point, perseverance becomes

emotional stubbornness.

Like Wilson, Bush had an obstinate commitment to his vision that inhibited learning and adjustment. Perhaps the flexibility that Obama and Romney have shown is not such a bad quality for a president after all. The rigors of the prolonged campaign provide voters with some clues about stamina and self-discipline. Each of the Republican candidates took a turn as front-runner in this race, and the rigors of the primary season exposed the flaws in some, like Texas Governor Rick Perry, who were initially attractive. Now, in the general election, how Romney, in particular, relates to his party’s platform will tell us something about the strength of his independence and future cabinet appointments.

But the most important variable for voters to examine is the candidate’s biography. I do not mean the slick books and television advertisements that are produced for their campaigns. While image consultants and acting ability can mask a candidate’s character, an integrated life over time is the best basis to judge the authenticity of the next president’s temperament and how he will govern.

Above all, sophisticated voters will themselves be emotionally intelligent enough to be prepared for surprises.

When their candidate disappoints them - as he inevitably will, regardless of the election’s outcome - they will bear in mind that democracy is the worst system, except for all of the others. * Joseph S. Nye, a former US assistant secretary of defense, is a professor at Harvard and the author of The Future of Power.

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Kuwait northern fields daily production to reach 800,000 bpd in March

BUSINESS

mondAY, may 14, 2012

m ar ket watc h KUWAIT

DUBAI

QATAR

OMAN

ABU DHABI

0.01% 6446

1.8% 1488

0.1% 8536

0.2% 5736

0.2% 2474

KUWAIT: Kuwait’s northern oil fields are producing 700,000 barrels per day (bpd), expected to reach 800,000 bpd next March, said Kuwait Oil Company’s Deputy Managing Director for North Kuwait Husniya Hashim on Sunday. Speaking at the opening of the “3rd KOC Sharing Best Practices Conference” at the Hilton Hotel, she added the KOC aims to bring production of free gas to a billion cubic foot by 2017-18.

OIL MARKETS BAHRAIN

EGYPT

NO CHANGE

1.4% 5083

SAUDI

0.7% 7183

US Crude $95.57 $0.56 London Brent $112.26 $0.47 Kuwait Crude $108.66 $0.16 Information Courtesy: KAMCO

CURRENCIES US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2785 Sell 0.2786 Buy 0.3597 Sell 0.3599

Buy 0.4475 Sell 0.4478

Buy 0.003481 Sell 0.003486

Pressure put on Pentagon by Congress to reduce cost of Iraq War

Hiding evidence

Buy 0.07582 Sell 0.07585

Buy 0.07651 Sell 0.07648 Buy 0.7386 Sell 0.73907

Buy 0.005194 Sell 0.005192 Buy 0.006567 Sell 0.00655

Sixth, the US Congress put pressure on the Department of Defense to reduce costs of war on Iraq, but the victims were the supportive companies. The Public Prosecutor put pressure on the witnesses in order to change their testimonies in the case.

Staff Writer

In the same vein, in order to confirm the concept of inequality and following unfair procedures by the US Department of Justice, which the Wall Street Journal described the department as “department of injustice”, hid useful evidence by the Public Prosecutor, which could result in bringing down the charges brought against the defendants, stressing that there is corruption within the US Department of Justice. In its report, the Wall Street Journal said that Public Prosecution which handled the case of Senator Ted Stevens, who lost his seat two weeks before the elections in 2008, deserves severe penalties, after the lawyer of the government shared in “systematical” hiding evidence which were

Buy 0.0743 Sell 0.0743

Prices in Kuwaiti fils as of May 13, 2012 Courtesy: KAMCO

Agility victim of Congress pressures KUWAIT: Agility and its Kuwait-based subsidiary Agility Defense and Government Services (DGS) filed more than 20 memos to the US Department of Justice in response to the charges brought against the company by the US Court claiming that the company had overcharged for supplying food to US troops and contractors in Iraq, two reliable sources told the Financial Times. The sources said that a memo confirmed that the allegations put forward by the Department of Justice were legally invalid, because the US government failed to prove fraud, and that the prosecutor relied on preferential translations to vague conditions of a contract, which cancels any charges about fraud.

In the second memo, according to Financial Times, the company demanded the dismissal of the case filed against it and its subsidiaries, based on an error in the proceeding of filing the case. The memo argued that the US government resorted to a series of unjust tactics which aims to distort, and in some cases to create, the evidence which support the translation of the contract by the government, in order to transfer the case from a conflict over a contract to a crime.

For his part, US Prosecutor’s Office Spokesperson said that a file will be prepared in response to these memos. First Assistant of the US Public Prosecutor John Horn said that he differs with the descriptions mentioned in the memos on the behavior of the government, noting that they intend to present their position in more details in response to the memos. Horn refused to set a date for the response of the government to the memos. Meanwhile, a reliable source said that the prosecutor wasn’t committed to file any responses before the previous hearing held before the trial on March 21.

See page 10

Suspicious procedures

A handout picture of an Agility truck. Agility and its Kuwait-based subsidiary Agility Defense and Government Services (DGS) filed more than 20 memos to the US Department of Justice in response to the charges brought against the company by the US Court claiming that the company had overcharged for supplying food to US troops and contractors in Iraq, two reliable sources told the Financial Times.

in favor of the defense of the Senator, which caused severe harm to the credibility and testimony of the main witness of the government.

Violations involving the US government

First, because of the auditing made by the US Congress about the accelerating costs, the US Department of Defense and the Defense Logistic Department began to find a way in 2006 and 2007 to blame others for the high cost of war on Iraq, so it blamed Agility and others, and then the government began to be involved in the memo called ‘protect your back’.

Second, in order to face the unique performance of the company and the ambiguity of the contract, the US government resorted to several hard and immoral ways to distort

evidence, including manipulating the internal evaluation report conducted by the defensive supplies department within the company. Third, putting pressure, and sometimes forcing the witnesses to change their testimony in order to support the case.

Fourth: interfering in legal procedures and compulsory rights of the company in an inappropriate way by instructing the witnesses not to speak to lawyers of the company. In August 2011, the prosecutor asked the employees in Public Warehouses Company not to speak about the content of the meetings held with the government with their employer.

Fifth, the US government criminalizes practices which it approved in the case of Agility, and interfered in legal procedures and prevented the witnesses from speaking to the company’s lawyer.

Some analysts see that the procedures taken by the US Department of Defense against the Kuwaiti companies raise suspicions about the neutrality and legality of the procedures, in light of procedures being followed in an attempt to appease the Congress and its policies and pressure regarding reducing the cost of the war on Iraq.

Despite the flood of tributes to the work of Agility with the US Department of Justice regarding providing food services to the army in Iraq, the US Public Prosecutor transferred a conflict over the interpretation of the items of the contract into a criminal case, which explains the conflictive situation of the US government and its failure to abide by the legal procedures followed in this regard.

In this context, Head of Law Department at the College of Law Dr. Ibrahim Al-Homoud said that the “clean” record of Agility and the official tributes on its performance supports the situation of the company in the case, especially as Agility had received a number of excellence certificates from the US Department of Defense, which shows contradiction in the situation of the government against the defendant.

Dr. Al-Homoud said that the company shouldn’t have been accused of fraud as the case is just a conflict over the interpretation of a complicated contract, but for unpredictable reasons, the US Department of Justice adopted a “tough” situation regarding its charges. He noted that the company is still unable to prove innocence.

Al-Homoud expected that Agility will be able to prove innocence of fraud, especially by following the basic rules and procedures of law regarding paying tax. He noted that there are evidences which support the defense of Agility including receiving awards and certificates of appreciation from US government institutions. Al-Homoud expressed hope that the foreign governments, especially the US, will stop discrimination against Arab companies, expecting the existence of some bodies which seek to escalate the situation and put toward condemning the company.

It is worth mentioning that a number of officials in charge of US contracts had repeatedly valued the performance of the company and gave it awards and certificates of appreciation and always said that the prices provided by the company were “fair and reasonable”. However, the government responded to the distinguished performance by following severe and immoral procedures to distort evidences.

IMF concerned about Kuwait’s finances KSE begins week with new index, ends session in red KUWAIT: Kuwait’s recent wage hikes have raised concerns about the sustainability of its public finances, its central bank governor told Kuwait News Agency (KUNA), citing a preliminary report from the International Monetary Fund (IMF).

The IMF said Kuwait’s fiscal stimulus had helped non-oil sectors to recover from the global financial crisis, Governor Mohammad Al-Hashel was quoted as saying by KUNA. “But elements of the fiscal stimulus, such as the increase in wages in the state budget for the financial year (2012-2013) raised concern about the sustainability of public finances in the medium term ... and management of public finances in the shortterm,” the report said. The IMF was in Kuwait on a regular visit between April 18 and 30, Al-Hashel told KUNA. Around 3,000 Kuwaiti customs workers went on a week-long strike in March, which disrupted traffic at ports, demanding higher salary increases despite the government plan for a 25 percent rise in public wages.

Employees at national carrier Kuwait Airways grounded planes for three days during a walkout. The IMF said that the rising cost of retirement would also put pressure on public finances, KUNA reported. Only seven percent of Kuwaitis work in the pri-

vate sector, the report also said.

Policymakers and economists in Kuwait, a member of the Organization of the Petroleum Exporting Countries (OPEC), have warned that growth in public-sector salaries is unsustainable in the long term.

They say it also puts pressure on private sector wages and could fuel inflation, which reached a four-month high of 4.1 percent on an annual basis in March.

The IMF forecast 4.4 percent inflation in 2012, KUNA said. It also sees a budget surplus of 30 percent of gross domestic product and a current account surplus of 40 percent of gross domestic product (GDP).

The IMF expects Kuwait will keep up its “liquidity support” during 2012 and allow interest rates to remain low to encourage credit growth, KUNA said.

“The report predicts increased recovery of the economy this year led by high Kuwaiti government spending,” it said. Real GDP is seen at 6.6 percent, it added, compared to 8.3 percent in 2011. Kuwait, which pegs its dinar to an undisclosed basket of currencies believed to be heavily dominated by the US dollar, last changed its key discount rate in February 2010, when it cut it by 50 basis points to 2.50 percent to spur non-oil growth. -Reuters

Commercial Facilities Company Q1 net profit reaches KD 4.594 million, up 38% KUWAIT: Commercial Facilities Company (CFC) announced in a press release on Sunday its financial results for the three months ended March 31, 2012. Led by strong revenue growth in its core operations, CFC reported a net profit of 4.594 million Kuwaiti dinars for the first quarter in 2012 compared to KD 3.334 million for the same period in 2011, an increase of 38 percent. CFC’s success in the first quarter of 2012 was due to its maintained marketing strategy in financing new and used cars, cash and installment loans, as well as consumer and company loans. In addition, the implementation of the debt collection policy played a vital role in maintaining the company’s assets.

Commenting on the company’s 2012 performance,Abdullah Saud Al-Humaidhi, Chairman and Managing Director, CFC, said, “CFC’s first quarter results reflects the company’s extremely positive start of 2012, positioning CFC for the rest of 2012.

CFC’s first quarter results are a testimony of the consistent positive performance that we have been able to achieve.” “In addition to sparing no efforts to generate the highest profits, CFC always strives to apply its strategic plan with optimum precision in order to provide the best services for its customers. The company has been distinguished for its good services and the strong experience of its work team which all had led to our clients’ satisfaction.” CFC is one of the leading finance companies in Kuwait with strong presence in the market for the past 35 years, thanks to its uniqueness in best serving its clients, quick processing of transactions and remarkable convenience.

Kuwait introduces X-Stream trading system

KUWAIT: Kuwait Stock Exchange’s new KSX 15 index ended the first trading session in operation with a drop of 1.52 points to read 998.48 points on closing Sunday, while the price index lost 0.74 points to 6,446.06 points and the weighted index lost 0.23 points to 419 points. Trades came to 2,079 transactions, worth KD 8,466,870.884 and volume reached 71,892,399 shares. Top share for the day was National International Company’s, while biggest loser was stock of Al-Safat Company, and top volume share was that of Gulf Finance House (GFH). With 14 sector indices instead of the previous eight, the screen was mostly red upon closing.

In more news, Kuwait has managed to join 13 Arab countries that already have introduced the new smart trading system named X-Stream, the country’s minister of commerce and industry said Sunday.

The Kuwait Stock Exchange (KSE) has used the new X-Stream system in a major step that would be in the interest of all dealers, Anas Al-Saleh, who also doubles as chairman of the KSE Committee, said in news remarks. The new system, installed by Nasdaq OMX, includes the supply of new technology and helps improve transparency, market data and surveillance.

Today is the first day for the KSE, the oldest stock market in the Arabian Gulf region and the third largest in terms of capitalization in the Arab world after Saudi Arabia and Qatar, to use the fresh smart trading system.

However, some technical problems marred the operation of the new system on the first day, but they were fixed by technicians, the minister said, hoping that it would prove success soon.

For his part, KSE Brokers’ Section Chief Abdulaziz Marzouq said dealers were not interested in trading on the first day of the fresh system.

He deemed this a very normal matter at the beginning of the X-Stream system, but by the end of this week the picture would be clearer for investors. Brokers are doing their utmost to overcome looming problems affecting their work, especially as they had carried out previous similar experiments, he added. Kuwait Dealers’ Society Chairman Mohammad Al-Tarrah

US dollar exchange rate up against Kuwaiti dinar KUWAIT: Exchange rate of the US dollar against the Kuwaiti dinar rose to KD 0.279, the euro also increase to KD 0.395, compared to Thursday’s figures, said the daily bulletin of the Central Bank of Kuwait (CBK) on Sunday.

Exchange rate of the Sterling pound dropped to KD 0.447, and the Japanese yen remained unchanged, at KD 0.003. Whereas the Swiss franc also slipped to KD 0.299.

Many factors having affecting the exchange market especially the dominate crisis for the Greece’s sovereign debts which pushed the investors away from taking any risks. -KUNA

FILE - A Kuwaiti man sits on a bench outside the Kuwait Stock Exchange, Oct. 2, 2011. Kuwait has managed to join 13 Arab countries that already have introduced the new smart trading system named XStream, the country’s minister of commerce and industry said Sunday, May 13, 2012. (Reuters)

said most investors at the market have not yet fathomed out how to deal with the new trading system.

But, he said investors should interact with the positive mechanism, which he said would give a fresh impetus to ongoing efforts to wipe out false trading or speculations. -KUNA

Oman budget surplus widens to $2 billion in January-February DUBAI: Oman booked a budget surplus of 768 million Omani rials (two billion US dollars) in the first two months of 2012 as robust oil prices boosted revenue, finance ministry data showed on Sunday.

The surplus is equivalent to about 2.7 percent of the sultanate’s 2011 nominal gross domestic product, according to Reuters calculations. The country posted a surplus of 467 million rials in January.

Analysts polled by Reuters in March expected the non-member of the Organization of Petroleum Exporting countries (OPEC) to post a fiscal surplus of 5.0 percent of gross domestic product (GDP) in 2012 thanks to high crude prices, up from 3.5 percent last year.

Oman has raised its budget by 23 percent to

10 billion rials this year compared to its original projection for 2011. The 2012 plan includes almost 96 percent of last year’s actual expenditure, which was boosted by extra spending following protests demanding more jobs and an end to corruption.

The Gulf Arab sultanate’s budget income jumped by nearly 31 percent to 1.9 billion rials in January-February compared to the same period last year. It already accounts for 21 percent of the initial full-year projection, the data showed.

Net oil revenues surged 43 percent to 1.5 billion rials. Oman sold its oil at an average price of $109.1 per barrel in January-March, up from $88.4 in the first three months of 2011, the oil and gas ministry’s data show. -Reuters

10

ALWATAN DAILY

BUSINESS

monDAY, may 14, 2012

Kuwait northern fields daily GDF Suez sells production to reach 800,000 bpd in March Bahrain power stake to Malaysian firm

‘World’s Oil Capital’ project garners support, says Al-Arbeed

KUWAIT: Kuwait’s northern oil fields are producing 700,000 barrels per day (bpd), expected to reach 800,000 bpd next March, said Kuwait Oil Company’s Deputy Managing Director for North Kuwait Husniya Hashim on Sunday.

Speaking at the opening of the “3rd KOC Sharing Best Practices Conference” at the Hilton Hotel, she added the KOC aims to bring production of free gas to a billion cubic foot by 2017-18.

Hashim remarked such conferences are means to keep up with new ideas and experiences, with 165 working papers discussed this time around during the two-day sessions. In addition to KOC, there would also be reviews of experiences and developments by Kuwait Gulf Oil Company (KGOC) and Kuwait Foreign Petroleum Exploration Company (KUFPEC).

On most important impressions and results after the last two conferences, she pointed out cooperation among staff of different oil companies.

“The challenges facing the Kuwaiti oil sector are very serious. We review them here in hope of benefitting from each other’s experiences in the areas of production of oil and gas, means to increase oil reserves, and training of staff, all of which are to be discussed in the working papers to give us a better idea about what truly constitutes ‘Best Practices’,” she remarked.

Her own paper is to discuss KOC’s visions in various sectors and the challenge it is facing in hiking output from three to four billion bpd. She noted, challenges include difficulties related to pumping of water in the reservoirs and the difficulties in producing heavy oil, production of which is set to reach 60,000 bpd by 2015.

KOC is also facing challenges in gas production. Hashim noted that the plan is to bring production of free gas from 120 million cubic foot to 500-600 million, and all the way to a billion cubic foot by 2017-2018.

The fact is that KOC is currently dealing with reservoirs never encountered in its previous experience. The factor of expertise, she stressed, is therefore a critical one. “Leading international

FILE- A file photo of a KPC refinery. Kuwait’s northern oil fields are producing 700,000 barrels per day (bpd), expected to reach 800,000 bpd next March, said Kuwait Oil Company’s Deputy Managing Director for North Kuwait Husniya Hashim on Sunday.

corporations had been invited to take part in the sessions, and we shall benefit from their expertise in dealing with such reservoirs,” Hashim said.

In more news, the initiative project of ‘Kuwait as the world’s oil capital for 2022’ has been garnering much support from various corporate entities and individuals with many volunteering to help develop it, project leader Ahmad Al-Arbeed said Sunday.

Al-Arbeed told KUNA that the project was being supported by around 150 companies and individuals, noting that many ex-ministers and business personnel were interested in the idea.

Al-Arbeed said that he met last week with Minister of Public Works and Minister of State for Development Affairs Dr. Fadhel Al-Safar, briefing him on the goals of the project.

Al-Arbeed said his project has four stages, the first was the formulation of the venture. This phase

has been completed with formation of teams of volunteers.

The second phase, he added, was to inform the society about the project.

The third phase, said Al-Arbeed, was achievement. This means, the start of implementation. The fourth stage, meanwhile, was investment during which the project would be appealing to investors.

There should be a maximum benefit from every oil barrel, he said. “Instead of selling the barrel for only 100 dollars, it is sold for 400 US dollars with the inclusion of oil industry and the extraction of byproducts.” Al-Arbeed wanted to make Kuwait as world’s oil capital through a sustainable and creative development environment.

The project depends on Kuwaiti workforce, integration between public and private oil sectors, thus contributing to transforming Kuwait into a regional financial and commercial hub. -KUNA

Precious metals prices hit four month low KUWAIT: The prices of precious metals at local market have hit four month low at the closing of last week, a specialized economic report showed Sunday.

Al-Zummorroda Jewelry Group’s report said the 24-carat gold price slipped to 14.2 Kuwaiti dinars per gram, down KD 0.5 per gram.

It added that the price slide has prompted a sell boom on the local market, citing a remarkable increase on demand for jewelry, small bullions and liras.

Al-Zummorroda said the price decline on the local market was a reflection to the downward

trend of the precious metal prices on the world markets.

On global market, gold prices fell to fourmonth lows on Friday as worries over the financial health of Greece and Spain and huge trading losses for JPMorgan hurt stock markets and the euro, prompting investors to seek refuge in the dollar.

Investors liquidated gold holdings to cover losses on other markets, as a rise in risk aversion sparked selling across assets seen as higher risk, while lifting the US currency.

Spot gold slid to 1,573.29 US dollars an ounce, its weakest since January 3, after support gave way

Shell’s leadership to secure global future energy

Stephan Scholz, Shell’s Vice President - Human Resources for Middle East and North Africa speaks at the conference held Saturday, May 12, 2012.

KUWAIT: Stephan Scholz, Shell’s Vice President - Human Resources for Middle East and North Africa outlined Shell’s approach to leadership development models and transition over the past decade. Scholz was speaking Saturday at the Kuwait Oil Company’s (KOC) third Sharing Best Practices Conference which is taking place from May 13-14, 2012.

As the world becomes more uncertain with significant emerging economies, future leaders will need to equip themselves with a number of leadership competences and skills to enable them to deliver their vision. Scholz reflected on the current global environment and shared Shell leadership development model in his key note speech, and said: “Shell operates in a complex, fast-paced and networked world. Managing the global operational footprint, increasing number of Joint Ventures, and rising energy demand presents new types of challenges for leaders. The new Shell Leadership model provides a focus on the leadership qualities needed for the future.

The qualities are defined by four key attributes starting with ‘Authenticity’ to inspire professionalism and resilience, ‘Growth’ to ensure leaders capture opportunities to generate value to the organization, ‘Collaboration’ to build strong partnerships and ‘Performance’ to deliver extraordinary business outcomes

by investing in people so that teams are fit for the future.”

Ahmad Atallah, Chairman and Managing Director for Shell Companies in Kuwait, commented on the sidelines of the conference by saying, “Working with Kuwait Petroleum Corporation (KPC) and its subsidiaries, we both get the opportunity to share ways of working and best practices through our ongoing interactions. The Shell Leadership Model and Attributes ensure that Shell experts working with Kuwait will contribute effectively to building a sustainable energy future through their drive to perform and deliver, while inspiring the young Kuwaiti engineers to adopt global professional standards that focus on the leadership attributes.” “I believe that there is a leader in each one of us and through personal involvement, senior leaders will develop future leaders and nurture the attributes that are critical to a successful energy future”.

The Sharing Best Practices Conference, which was being hosted by KOC for the third successive year, provides an ideal platform for oil and gas industry operators to meet and discuss issues and to help understand the challenges and progress made in operating in unique environments that routinely face the oil and gas sector in the Middle East.

at $1,579.

As for silver, the report said it dropped sharply last week to stand at $28.44 per ounce, compared with $29.8 per ounce a week earlier.

The report noted that silver price has slumped by more than $20 per ounce since April 2011. But silver is expected to claw back to $31 per ounce in the coming week due to growing demand.

Other precious metals such as Platinum took the same course, to close at $1,470 per ounce, losing $61 an ounce. Palladium also incurred huge losses, estimated at 51 per ounce, in last week trading. -KUNA

Kaspersky concludes its 1st IT government security summit

CAPITALS: Kaspersky Lab, a leading developer of secure content and threat management solutions, announced in a press release on Sunday that it has successfully concluded its first IT Government Security Summit, under the support of the Central Agency of Information Technology (CAIT) of Kuwait. The event was held today at the CAIT premises, and was attended by prominent representatives of the majority of the Kuwaiti governmental bodies. Kaspersky Lab executive committee attended the event, accompanied by a senior delegation of analysts and senior executives.

Stefan Tanase, Senior Security Researcher, EEMEA, Global Research & Analysis Team, Kaspersky Lab, tracked the evolution of the main tendencies in the field of cybercriminal activity, and evaluated the key incidents of 2011. Tanase also shared his projections for 2012 and beyond, based in the particular interests, capabilities and limitations of the main players in cyberspace.

Khalid Abu Baker, Corporate Sales Manager, Kaspersky Lab Middle East and Turkey, shared Kaspersky Lab’s experience and learnings from the Middle East region, and discussed with the attendance of the conference how to build an efficient IT security environment, and the importance of having a secure IT infrastructure to establish a successful business. Furthermore, how can organizations overcome the IT security challenges especially with the increasingly complex endpoint environments comprised of various devices, platforms and operating systems.

TarekKuzbari, Managing Director of Kaspersky Lab said commenting on this event, “We are very proud that we are holding our first Kaspersky IT Government Security Conference in Kuwait, and we are thankful for the hospitality of the Central Agency of Information Technology. This is indeed an honor for us to be here today, to share our international and reliable security expertise and knowledge.”

“With 864% growth in five years, Kaspersky Lab was recognized as one of the 500 fastest growing technology companies from 24 EMEA countries based on five-year average percentage revenue growth. This milestone is a testimony of its success, showing the strength of Kaspersky Lab’s products and solutions, and positioning it as a trust-worthy partner across governments and business in the Middle East region,” he continued saying.

DUBAI: French utility GDF Suez has sold a 40-percent stake in Bahrain’s Al Hidd power and water plant to Malaysia’s largest independent power producer, Malakoff, to meet a regulatory requirement following GDF’s acquisition of International Power.

GDF acquired International Power last year and the combined entity held 70 percent in the Bahraini plant. Bahrain’s government wanted GDF to reduce the stake to prevent the concentration of ownership.

“This partial sale of Hidd Power Company allows the combined International Power-GDF Suez entity to comply with the Kingdom’s regulatory requirements,” GDF Suez and Malakoff said in a joint statement Sunday.

No financial details of the transaction was provided.

The Al Hidd plant is amongst the largest independent water and power in Bahrain, providing about 39 percent of the kingdom’s power needs and 62 percent of its water requirements, according to GDF Suez’s statement.

After the sale, the power plant will be owned 40 percent by Malakoff, 30 percent by GDF-International Power and 30 percent by Japan’s Sumitomo Corporation. GDF had hired Hong Kong and Shanghai Bnaking Corporation (HSBC) Holdings to arrange the sale of its 30-percent stake in the plant, sources told Reuters in July last year, pegging the enterprise value of the stake at $200 million.

GDF, owner of the largest gas transport network in Europe, is also the top shareholder in the $2.1 billion Al Dur power and water project in Bahrain with a 45-percent stake. Malakoff has a net generating capacity of 5,020 megawatts from its six power stations and has already won and implemented projects in Saudi Arabia and Algeria. -Reuters

Jordan plans power, fuel price rises to cut deficit

AMMAN: Jordan’s Prime Minister Fayez Al-Tarawneh said on Sunday his government planned price rises soon for some essentials to prevent a spiraling budget deficit from passing four billion US dollars this year and further damaging the kingdom’s sluggish economy.

Al-Tarawneh said the austerity moves expected before the end of the month would include rises in electricity and premium gasoline prices, but would not affect subsidies on bread for the poor.

He said they were crucial as a signal to the country’s Western donors that the aid dependent kingdom was serious about fiscal consolidation.

“There is a need for speedy measures to assure regional institutions and international donors that we are doing our part to put our house in order financially and economically,” Al-Tarawneh was quoted by the state news agency as saying.

Although Jordan liberalized energy prices several years ago, it retained last year a freeze on further gasoline hikes and some basic commodities to head off the potential for unrest.

Finance Minister Suleiman al-Hafez was also quoted as saying the planned price hikes, that would include higher taxes on luxury goods were crucial to avoid the budget deficit soaring to 2.03 billion Jordanian dinars ($2.8 billion) after foreign aid that traditionally covers

budget shortfalls.

Hafez said the budget deficit could reach a record 2.93 billion dinars if foreign aid levels fall dramatically this year and the measures were not taken.

Last year the kingdom’s economy was kept afloat after a $1.4 billion cash injection from Saudi Arabia. Officials say this year there was no pledge of support from Saudi Arabia, raising concerns about the state of the budget.

The 2012 budget has set a much lower budget deficit estimate of 1.027 billion dinars or 4.6 percent of gross domestic product that had made allowance for extra foreign aid and a streamlining of a subsidies package. Successive governments have adopted an expansionist fiscal policy characterized by sizeable state subsidies and salary increases after months of protest since early last year inspired by the civil uprisings that swept the Arab world.

To head of greater unrest, the authorities created new state jobs in an already bloated public sector, froze gasoline prices and maintained subsidies for bread.

Economists said Jordan’s ability to continue to maintain a costly subsidy system and the upkeep of a vast state bureaucracy, whose salaries consume the bulk of the $9.6 billion state expenditure, was increasingly untenable in the absence of large foreign capital inflows or infusions of foreign aid. -Reuters

Middle East investors slowly wake up to Africa ADDIS ABABA: Flush with cash from oil and stuck with few options for growth in developed markets, Middle East investors are increasingly looking to nearby Africa. While the fast-growing continent offers plenty of opportunities, bankers say there are also a raft of challenges for Middle East investors, particularly due to the relatively small size of potential deals.

“We’re seeing more interest. I think it’s fair to say that we haven’t seen a lot of that crystallize into deals so far,” said Diana Layfield, Africa chief executive at Britain’s Standard Chartered Plc. “The Middle Eastern sovereign wealth funds are very interested in Africa, the challenge that they face is the increment at which they need to invest is way too large for the continent at the moment,” Layfield told Reuters in an interview on the sidelines of the World Economic Forum on Africa.

Held this week in the Ethiopian capital of Addis Ababa, the forum highlighted Africa’s attractions: it is home to some of the world’s fastest growing economies and rapidly rising disposable incomes. A decade of relative political stability has also helped the case for African investment. “Definitely there will be more (investment) coming to Africa,” Saudi Arabian Minister for Agriculture Farad Balghunaim told Reuters.

“With the clear vision that is building up in African leadership now, there will more and more investors from Saudi Arabia,” he said in Addis Ababa.

But tapping that growth is not so easy, given the lack of liquidity in public capital markets. For private equity bankers, there is often a shortage of deals that can meet their mandate on size.

For instance, emerging markets private equity firm Actis told Reuters last month it is aiming for individual deals of 50 million US dollars or more in Africa,

meaning it has to focus on the continent’s biggest economies - South Africa, Egypt and Nigeria - to find deals.

Smaller deals

Some Middle East investors, therefore, are focusing on smaller deals to gain exposure to Africa.

Dubai’s Abraaj Capital is in the process of acquiring UK-based private equity firm Aureos Capital, which invests in small and medium-sized businesses in Africa, Latin America and Asia.

“We tend to have a sweet spot at around $10 million, but we have investments as low as two million dollars and going up to about $35 million,” Davinder Sikand, Aureos’ regional managing partner for Africa told Reuters.

“Our focus has been to build regional champions. So we’ll take positions in businesses that can demonstrate management vision and build (them) out, recognizing that each of our markets other than Nigeria and South Africa are fairly small markets, and you need to build that scale.”

Due to the constraints in their home markets, Middle East investors are familiar with Africa’s challenges, such as the shoddy infrastructure, the scarcity of a highly trained workforce and the lack of liquidity in capital markets.

“The Middle East, part of which is rich in capital, is starting to look at Africa as an investment destination,” said Frederic Sicre, a partner at Abraaj Capital.

Sicre said he was “definitely” seeing more interest in African private equity from Middle East investors. “Behind us are 200 of the wealthiest merchant families, royal families from the Middle East, sovereign wealth funds from the Middle East.We can pull them in to looking at the infrastructure development space, or the big utility development space, into looking at the opportunities here.” -Reuters

ALWATAN DAILY

MARKETS

11

monDAY, may 14, 2012

Abu Dhabi fund Aabar takes majority stake in Arabtec Dubai Investments Q1 net up 6.3%, eyes divestments

DUBAI: Abu Dhabi fund Aabar Investments has raised its stake in Arabtec Holding to 53 percent, a market official said on Sunday, effectively taking control of Dubai’s largest builder after a failed 1.7 billion US dollars bid two years ago.

The state-owned fund, which owns stakes in high-profile names such as German carmaker Daimler, commodities trader Glencore and Italy’s UniCredit, had been buying up shares in recent weeks through subsidiaries and owned a 10.45-percent in Arabtec as at end April.

An official at the Dubai Financial Market (DFM) said trade done on May 6, and settled on May 8, had lifted Aabar’s position to 53 percent. The new shareholder structure will be updated on the bourse’s website on Monday, the official said, speaking on condition of anonymity.

Arabtec shares, which have surged 94 percent year-to-date, plunged 6.4 percent at 0925 GMT on the Dubai bourse over fears that the company may delist and that minority shareholders’ interests would be overlooked.

Aabar itself shocked retail investors in 2010 when it delisted from the Abu Dhabi bourse as part of a full buyout by state-owned investment vehicle International Petroleum Investments Corportion (IPIC).

“I don’t think we are dealing with another Aabar/IPIC situation here and that’s probably why retail is selling off... but I do believe that given the important news and price action over the last few trading sessions Arabtec needs to come out with clarification as this point,” said Haissam Arabi, fund manager at Dubaibased Gulfmena Investments.

Both Arabtec and Aabar officials did not return calls or reply to email enquiries seeking comment.

Aabar tried to acquire a 70-percent stake in Arabtec in 2010 in a $1.7 billion deal that was eventually cancelled.

However, both firms said they would continue to work together in the future and form strategic partnerships. Aabar first raised its Arabtec stake to 5.3 percent in March and later doubled it to 10.5 percent through another subsidiary.

“It looks like Aabar has bought out the shares of Arabtec’s founder and other shareholders in the company. When the stake build-up was being made, we knew it was coming,” a Dubai based trader said, speaking on condition of anonymity.

Arabic daily Alrroya quoted Aabar Chairman Khadem Al-Qubaisi as saying

the sovereign fund had taken the controlling stake in an interview on Saturday.

“The company (Aabar) has bought a 23-percent stake directly from Arabtec during the last period, while it acquired the remaining 30 percent from other shareholders,” Qubaisi, who is also Arabtec’s newly-appointed chairman, was quoted as saying.

Qubaisi said the investment was “a successful opportunity,” adding Aabar is planning to award more real estate contracts to Arabtec in Abu Dhabi. In April, it gave the builder a $60 million contract to build a residential development in the oil-rich emirate.

Last week, the Abu Dhabi government identified an Arabtec consortium that includes Greek and Turkish firms as the preferred bidders for an estimated $3 billion contract to expand its international airport.

In April, Arabtec appointed four Aabar executives to its board, including Al-Qubaisi.

Meanwhile, conglomerate Dubai Investments posted a 6.3-percent rise in quarterly net profit on Sunday and said the company was reviewing opportunities to divest some of its businesses.

The firm, in which sovereign wealth fund Investment Corporation of Dubai (ICD) owns an 11.5-percent stake, made a net profit of 107.5 million UAE dirhams ($29.3 million) for the first-quarter, compared with 101.1 made in the same period in 2011.

Revenue for the quarter was 623 million dirhams as against 643 million dirhams in the prior-year period, the company said in a bourse statement.

Dubai Investments, whose manufacturing business was hit by political unrest in the Gulf Arab region, said improvements in the regional political conditions and a revival of UAE’s tourism and hospitality sectors helped bolster its quarterly net profit.

Revenue from sale of goods and services increased to 374 million dirhams from 324 million dirhams in the same period in 2011.

The company, which has interests in several sectors including property and manufacturing, said total assets stood at 13.5 billion dirhams at the end of the first quarter.

It has been eyeing an exit from some of its businesses and said that it was still reviewing opportunities.

Dubai Investment shares ended 0.6 percent higher on the Dubai bourse before the announcement of the earnings.

The conglomerate wants to raise up to one billion dirhams this year through sale of a Sukuk, or Islamic bond, to finance the expansion of its manufacturing units and repay debt. -Agencies

Ashabakat, Promastar Group enter JV to offer project management solutions

Sunday 13 May, 2012 Index Price index Weighted Index KSX 15

KUWAIT: Ashabakat Technical Networks for Computer, one of the subsidiaries of Khatif Holding, the Kuwait-based venture capital and acquisitions company, signed a partnership agreement with Promastar, a Middle East platinum partner of Oracle specialized in Primavera. Promastar is a professional consulting house specialized in providing project portfolio management and is a certified advantage Oracle platinum partner (CAP) for EMEA with Primavera solutions focus area. This was stated in a press release on Sunday.

The new partnership will add value in the Project Management solutions market.

The Joint Venture between Promastar and Ashabakat brings together integrated Project Management and IT solutions to the Kuwaiti clientele. The joint venture (JV) will offer software sales and support, System implementation services, Competency and training services, PMO - Project Management Office setup and operation services as well as complete IT back bone support.

Commenting on the joint venture, Fatma M. Al-Bader, chief executive officer (CEO) Ashabakat said, “Every time we add a new service offering to our portfolio, it’s akin to starting a new business

line. This partnership marks an important milestone as Promastar offers the most comprehensive Project Management solutions in the region and we aim to deliver the best quality of services to our clients and provide greater satisfaction and highest ROI to Kuwaiti customers.”

“Along with the support of our strategic partner, we hope to expand our successful business relationship in the future and continue to acheive the best customer satisfaction and care in Kuwait” further added Mrs Al-Bader.

Mostafa El Bakry, President of Promastar added, “Given the increasing importance of information technology in driving the strategic growth of an organization, we are delighted with our partnership with Ashabakat. As an Oracle platinum partner and given our interest in the Kuwaiti market, we acknowledge that every business needs a reliable and trusted IT partner in order to continue to function successfully. I believe Promastar found that in Ashabakat for delivering to Kuwait’s leading firms both in public and private sectors. We believe that entering the Kuwaiti market will add more value to the Project Management solutions’ base in the region.”

Closing

-0.74 -0.23 -1.52

6,446.06 419.00 998.48

Last Closing

High

6,446.80 419.23 1,000.00

Trades Value (KD) Trades

6,457.74 420.24 1,003.57

High

Low

Volume

MARIN IKARUS IPG NAPESCO AREFENRGY GPI ABAR Oil & Gas

0 194 330 345 126 70 242

0 182 330 345 120 67 242

0 667 1 1 62,000 1,333,200 5,840 1,401,709

0 123 0 0 7,572 92,690 1,413 101,800

0 3 1 1 6 24 2 37

0 188 330 345 126 70 242 1010.41

▬ ▬ ▲ ▲ ▬ ▲ ▼ ▲

0.0 0.0 10.0 25.0 0.0 1.0 -13.0 10.41

PIPE KFOUC BPCC ALKOUT ALQURAIN Basic Materials

120 340 610 0 218

118 340 610 0 216

93,978 500 38,200 0 264,659 72,070,000

11,277 170 23,302 0 57,167 6,683,420

6 1 8 0 15 1,170

120 340 610 0 216 994.29

▬ ▼ ▬ ▬ ▬ ▼

0.0 -10.0 0.0 0.0 0.0 -5.71

440 180 1,380 265 880 0 0 255 0 0 0 0 0 180 0 0 41 410 0 158 0 124 375 0 0 0 33 23 1,700 104 0 295 65 280 89 104 0 102 0

430 180 1,360 255 870 0 0 255 0 0 0 0 0 180 0 0 37 405 0 156 0 118 350 0 0 0 33 22 1,680 102 0 290 65 275 86 99 0 99 0

30,000 3,837 10,552 51,400 10,268 0 0 100 0 0 0 0 0 40,000 0 0 257,968 77,782 0 24,124 0 31,100 13,000 0 0 0 80,000 3,912,601 4,260 84,262 0 87,073 40,000 106,100 205,414 11,835,751 0 200,042 0 72,070,000

13,000 691 14,511 13,596 8,934 0 0 26 0 0 0 0 0 7,200 0 0 9,697 31,760 0 3,807 0 3,730 4,723 0 0 0 2,640 88,424 7,237 8,683 0 25,256 2,600 29,178 18,195 1,196,919 0 19,944 0 6,683,420

3 2 9 7 5 0 0 1 0 0 0 0 0 2 0 0 6 16 0 4 0 4 4 0 0 0 1 36 2 12 0 8 1 5 10 96 0 11 0 1,170

440 180 1,380 265 870 0 0 255 0 0 0 0 0 180 0 0 37 410 0 156 0 120 350 0 0 0 33 23 1,700 104 0 290 65 275 89 102 0 102 0 996.16

▲ ▬ ▲ ▼ ▼ ▬ ▬ ▲ ▬ ▬ ▬ ▬ ▬ ▼ ▬ ▬ ▼ ▲ ▬ ▼ ▬ ▼ ▼ ▬ ▬ ▬ ▬ ▼ ▲ ▬ ▬ ▬ ▼ ▼ ▬ ▲ ▬ ▲ ▬ ▼

5.0 0.0 20.0 -5.0 -10.0 0.0 0.0 5.0 0.0 0.0 0.0 0.0 0.0 -4.0 0.0 0.0 -2.5 5.0 0.0 -4.0 0.0 -4.0 -20.0 0.0 0.0 0.0 0.0 -0.5 20.0 0.0 0.0 0.0 -1.0 -5.0 0.0 3.0 0.0 3.0 0.0 -3.84

KSH 0 NSH 0 PAPCO 112 CATTL 0 DANAH 96 POULT 0 FOOD 1,420 Consumer Goods

0 0 104 0 96 0 1,400

0 0 26,323 0 80 0 9,000 0

0 0 2,854 0 8 0 12,670 0

0 0 3 0 1 0 4 0

0 0 104 0 96 0 1,420 995.44

▬ ▬ ▼ ▬ ▲ ▬ ▲ ▼

0.0 0.0 -8.0 0.0 1.0 0.0 40.0 -4.56

0 0 395

0 0 380

0 0 10,000 0

0 0 3,875 0

0 0 4 0

0 0 395 991.77

▬ ▬ ▼ ▼

0 0 -10 -8.23

KCIN 0 KHOT 0 SULTAN 106 CABLETV 0 EYAS 0 IFAHR 0 MASHAER 275 OULAFUEL 270 MUNTAZAHAT 54 JAZEERA 430 SOOR 220 FUTUREKID 0 ALNAWADI 97 ALRAI 0 ZIMAH 0 UFIG 0 KOUTFOOD 0 Consumer Services

0 0 106 0 0 0 265 242 52 420 218 0 97 0 0 0 0

0 0 1,031 0 0 0 16,800 13,428 40,001 500 15,171 0 2,000 0 0 0 0 0

0 0 109 0 0 0 4,552 3,565 2,080 212 3,318 0 194 0 0 0 0 0

0 0 1 0 0 0 3 7 3 2 6 0 2 0 0 0 0 0

0 0 106 0 0 0 275 260 52 430 220 0 97 0 0 0 0 1003.30

▬ ▬ ▬ ▬ ▬ ▬ ▬ ▲ ▬ ▬ ▼ ▬ ▲ ▬ ▬ ▬ ▬ ▲

0 0 0 0 0 0 0 5 0 0 -4 0 5 0 0 0 0 3.30

ZAIN 750 NMTC 2,400 HITSTELEC 91 Telecommunications

730 2,320 90

744,348 61,010 1,848,200 0

555,938 143,936 167,326 0

74 38 71 0

740 2,400 91 1005.65

▬ ▲ ▬ ▲

0 40 0 5.65

NBK GBK CBK ABK ALMUTAHED KIB BURG KFIN BOUBYAN UGB AUB ITHMR Banks

1,080 430 810 600 890 275 430 730 600 162 172 49

1,060 420 790 570 870 270 425 710 590 162 170 49

1,601,557 81,337 45,000 51,095 50,007 401,315 535,873 591,696 597,448 3,450 51,000 810,320 104,665,000

1,709,333 34,873 36,449 30,604 44,506 109,839 227,852 424,705 357,899 559 8,672 39,706 5,447,570

89 13 3 8 5 11 20 109 36 1 2 32 994

1,060 430 810 600 890 275 425 720 600 162 172 49 995.28

▼ ▲ ▬ ▬ ▲ ▬ ▼ ▲ ▬ ▬ ▲ ▼ ▼

-20 5 0 0 10 0 -5 10 0 0 2 -4 -4.72

KINS GINS AINS WINS KUWAITRE FTI WETHAQ ARIG BKIKWT Insurance

0 0 0 128 0 0 43 0 0

0 0 0 128 0 0 43 0 0

0 0 0 125 0 0 500 0 0 104,665,000

0 0 0 16 0 0 22 0 0 5,447,570

0 0 0 1 0 0 1 0 0 994

0 0 0 128 0 0 43 0 0 998.81

▬ ▬ ▬ ▼ ▬ ▬ ▲ ▬ ▬ ▼

0 0.0 0.0 -10.0 0.0 0.0 2.5 0.0 0.0 -1.19

AINV SOKOUK KRE

0 0 57

0 0 56

0 0 114,000

0 0 6,410

0 0 8

0 0 57

▬ ▬ ▬

0 0.0 0.0

Security

KCEM REFRI CABLE SHIP PCEM PAPER MRC ACICO GGMC HCC KPAK KBMMC NICBM EQUIPMENT NCCI GYPSUM SALBOOKH AGLTY EDU CLEANING CITYGROUP KGL KCPC HUMANSOFT NAFAIS SAFWAN GFC MAYADEEN CGC MTCC UPAC ALAFCO MUBARRAD LOGISTICS SCEM GCEM QCEM FCEM RKWC Industrials

MHC ATC YIACO Health Care

Fatma M. Al-Bader, CEO of Ashabakat, and Mostafa El Bakry, President of Promastar, signing the agreement.

Change ▼ ▼ ▼

Last

Change

Low

Volume Value (KWD) Number of Trades

6,432.99 417.02 993.49

71,897,931 8,467,319 2,087

Trades Value (KD) Trades

Security

High

Low

Volume

URC NRE SRE PEARL TAM AREEC MASSALEH ARABREC UREC ERESCO MABANEE INJAZZAT INVESTORS IRC ALTIJARIA SANAM AAYANRE AQAR ALAQARIA MAZAYA ADNC THEMAR GRAND TIJARA TAAMEER ARKAN ARGAN ABYAAR MUNSHAAT FIRSTDUBAI KBT REAM MENA ALMUDON MARAKEZ REMAL Real Estate

114 132 246 38 236 0 130 38 0 94 1,020 74 20 60 86 62 72 0 0 82 31 86 0 0 63 0 0 47 36 41 0 0 0 0 58 350

112 132 246 38 226 0 120 37 0 92 1,000 70 18 58 84 60 70 0 0 81 31 81 0 0 63 0 0 46 31 40 0 0 0 0 58 345

1,338,100 5,000 23,230 10 310,001 0 497,587 401,850 0 14,940 81,666 85,001 8,305,257 10,800 78,806 220,000 708,100 0 0 163,120 400,002 3,266 0 0 5,000 0 0 3,575,898 100,001 96,000 0 0 0 0 40,000 5,000 6,282,500

150,312 660 5,715 0 73,157 0 62,418 15,070 0 1,376 82,007 6,014 152,587 637 6,699 13,440 49,723 0 0 13,374 12,400 276 0 0 315 0 0 167,262 3,125 3,894 0 0 0 0 2,320 1,735 1,715,380

42 1 3 1 5 0 28 15 0 8 12 7 170 4 7 8 16 0 0 12 21 2 0 0 1 0 0 68 6 5 0 0 0 0 1 5 170

112 132 246 38 236 0 130 38 0 94 1,000 70 19 58 85 62 70 0 0 82 31 86 0 0 63 0 0 47 36 40 0 0 0 0 58 350 1001.36

▲ ▲ ▬ ▲ ▬ ▬ ▲ ▬ ▬ ▲ ▼ ▼ ▼ ▼ ▼ ▲ ▼ ▬ ▬ ▬ ▼ ▬ ▬ ▬ ▲ ▬ ▬ ▬ ▲ ▼ ▬ ▬ ▬ ▬ ▲ ▬ ▲

2.0 2.0 0.0 2.5 0.0 0.0 6.0 0.0 0.0 2.0 -20.0 -3.0 -1.0 -2.0 -2.0 1.0 -2.0 0.0 0.0 0.0 -2.5 0.0 0.0 0.0 3.0 0.0 0.0 0.0 2.5 -0.5 0.0 0.0 0.0 0.0 1.0 0.0 1.36

102 270 52 150 330 58 0 0 0 0 100 0 0 0 37 148 51 35 0 40 0 0 0 0 56 0 0 40 0 270 95 0 65 0 190 0 0 34 0 68 64 50 0 0 110 36 228 90 0 0 82 150 20 78 0 100 0 52 66

102 270 51 148 325 57 0 0 0 0 95 0 0 0 37 146 50 34 0 40 0 0 0 0 56 0 0 38 0 265 94 0 63 0 190 0 0 32 0 64 64 50 0 0 108 36 224 88 0 0 80 150 19 77 0 100 0 50 62

4 2,000 690,000 417,607 60,020 267,000 0 0 0 0 269,579 0 0 0 256,000 1,797,500 565,375 2,640,408 0 527,700 0 0 0 0 1,000 0 0 2,308 0 230,201 246,973 0 458,533 0 500 0 0 43,000 0 80,771 2,000 80,000 0 0 401,000 185,658 1,413,699 63,601 0 0 90,000 520,000 2,644,390 1,376,115 0 25 0 13,263,000 180,500 6,282,500

0 540 35,540 62,286 19,632 15,419 0 0 0 0 26,232 0 0 0 9,472 263,110 28,359 90,082 0 20,933 0 0 0 0 56 0 0 91 0 61,148 23,417 0 29,187 0 95 0 0 1,410 0 5,330 128 4,000 0 0 43,390 6,684 319,497 5,683 0 0 7,260 78,000 52,446 105,962 0 3 0 676,439 11,713 1,715,380

1 1 34 34 15 8 0 0 0 0 27 0 0 0 13 10 23 66 0 23 0 0 0 0 1 0 0 5 0 26 21 0 21 0 1 0 0 6 0 11 2 2 0 0 8 5 37 10 0 0 5 4 82 26 0 1 0 215 11 170

102 270 52 148 325 58 0 0 0 0 97 0 0 0 37 148 50 34 0 40 0 0 0 0 56 0 0 39 0 270 94 0 63 0 190 0 0 32 0 67 64 50 0 0 108 36 226 90 0 0 82 150 20 77 0 100 0 51 64 1002.29

▬ ▲ ▲ ▲ ▬ ▬ ▬ ▬ ▬ ▬ ▼ ▬ ▬ ▬ ▬ ▬ ▬ ▲ ▬ ▲ ▬ ▬ ▬ ▬ ▲ ▬ ▬ ▬ ▬ ▼ ▬ ▬ ▼ ▬ ▲ ▬ ▬ ▲ ▬ ▼ ▲ ▼ ▬ ▬ ▼ ▼ ▼ ▲ ▬ ▬ ▲ ▼ ▬ ▼ ▬ ▲ ▬ ▼ ▼ ▲

0.0 5.0 1.0 2.0 0.0 0.0 0.0 0.0 0.0 0.0 -2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.0 1.0 0.0 0.0 0.0 0.0 5.0 0.0 0.0 0.0 0.0 -5.0 0.0 0.0 -1.0 0.0 2.0 0.0 0.0 0.5 0.0 -1.0 5.0 -1.0 0.0 0.0 -4.0 -2.5 -2.0 2.0 0.0 0.0 1.0 -2.0 0.0 -1.0 0.0 5.0 0.0 -1.0 -2.0 2.29

0

0 6,282,500

0 1,715,380

0 170

0 0.00

▬ ▬

0.0 0.00

KINV FACIL IFA NINV KPROJ COAST TII SECH IIC SGC IFC MARKAZ KMEFIC AIG ALAMAN ALOLA ALMAL GIH AAYAN BAYANINV GLOBAL OSOUL KFIC KAMCO NIH ISKAN MADAR ALDEERA ALSAFAT ALSALAM EKTTITAB QURAINHLD ALMADINA NOOR TAMINV EXCH TAIBA KSHC STRATEGIA KCIC MANAFAE GNAHC AMWAL MASAR ALIMTIAZ MANAZEL NIND UIC BIIHC SHOP SENERGY AGHC ALSAFWA KPPC TAHSSILAT JEERANH EKHOLDING GFH INOVEST Financial Services

MAREF 0 Investment Instruments

Last

Change

ASC SAFTEC FUTURE HAYATCOMM Technology

0 0 0 118

0 0 0 112

0 0 0 20,002 6,282,500

0 0 0 2,263 1,715,380

0 0 0 6 170

0 0 0 112 991.38

▬ ▬ ▬ ▼ ▼

0.0 0.0 0.0 -4.0 -8.62

BAREEQ AFAQ ALSHAMEL SAFRE AJWAN SPEC MASAKEN DALQAN ALEID MIDAN FLEX THURAYA KCLINIC AMAR Parallel Market

0 0 0 24 39 510 0 0 0 0 0 0 0 0

0 0 0 19 39 510 0 0 0 0 0 0 0 0

0 0 0 22 5,010 500 0 0 0 0 0 0 0 0 130,000

0 0 0 1 193 255 0 0 0 0 0 0 0 0 22,100

0 0 0 3 4 1 0 0 0 0 0 0 0 0 4

0 0 0 19 39 510 0 0 0 0 0 0 0 0 999.57

▬ ▬ ▬ ▼ ▲ ▲ ▬ ▬ ▬ ▬ ▬ ▬ ▬ ▬ ▼

0.0 0.0 0.0 -2.5 2.5 20.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.43

For more information, call 1 80 42 42, www.globalinv.net

STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY monday, may 14, 2012

April 2009 May21, 13, 2012

2% 6%

2% 6% Oman

113

1%

Qatar

1%

2% 0%

Saudi

-1%

100

90

GCC Best Performers

Saudi

95 13-Feb-12 85

13-Mar-12

13-Apr-12

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

-6%-2

19-Apr-0

1

Country (Index)

% Chg.

YTD

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

Index 7,183

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

2,474 5,250

-0.2% -4.0%

Qa UAUAE Qatar (DSM Index) (ADSM Index)

8,536 2,695

-0.1% 0.6%

Ku Kuwait (KSE Weighted Index)

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

OmOman UAE(MSM (DFMIndex) Index)

Level 419

1,488 406

5,736 1,745

Ba Qa Bahrain Qatar(BSE (DSMIndex) Index)

1,160 5,590

Jo Jordan (Amman General Index)

1,961

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)

5,083

5,478

1,681

10,244

463

1,180

2,825 462

10,621

5,124

1,094 546

Tu Tunisia (Tunis SE Index)* * Market Closed

3,282

52 Wk High

%-0.7% Chg.

11.9% YTD

-0.1%

3.3%

SEC The Securities House GEC Galfar Engineering & Contracting

0.4% -

0.1%

-

2.2%

-0.5% -

-

-

396

Mkt. Cap. 376,242 USD million

50

-2.7% 12.8%

8,892 5,148

8,071 2,137

58 122

128,754 69,783

0 196

17,384 65,352

7

27,011

1.4% -18.8%

40.3%

0.7%

-1.6%

-6.8%

-7.9%

8.5%

0.3%

2.4%

-3.1%

1,301 316

4 305

3,587

48

1,129 4,230

2,202

1,921

5,628

12,109 2,903

12,203

1,033

1,403

5,044 513

23.6%

739

5,138

2,119

13.6%

3,418

65,336 264,263

35 718

5,419 1,433

1,383 12,627

14,635

-7.2%

-

6,152 5,860

-3.3%

7.7%

0.9%

1,754 787

4,224

1,572

10,218

-

328

-

1,164

-

2,551 464

9,406

-

4,091

-

1,043

-

407

2,837

-

15,024

1.56

8.07

14.93

33,782

12.71

10,010

16.23

1.29

2.94

7.67

1.56

6.30

2,486

0.85

2.15

9.13

59,990

1.09

18.36

8,507

3.95

1.82

6.47

2,079

0.86

8.67

6,576

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

225 Saudi Industrial Inv. Grp.

101 Riyad Bank

-4.5% -8.6%

SAR 24.70

-6.4%

214,421,726 97,474,287

201 Saudi Basic Industries Corp. (KSA)

Turnover (USD)

91,399,168

115 Alinma Bank (KSA)

343,553,085 72,349,219

201 Corp. (KSA) 703Saudi Zain -Basic SaudiIndustries Arabia (KSA)

119,955,261 58,134,939

115 (KSA) 422Alinma EmaarBank the Economic City (KSA)

97,126,838

NBKNational Bank of Kuwait (KUW)

0.41

Advance/Decline Ratio

88,742,222

9,384,656

Turnover (SAR '000)

115

1,411,056,310

Market Cap. (SAR '000)

20Saudi Basic Industries Corp.

1 Alinma Bank

S&P GCC Large/Mid Composite

271,338,512

70Zain - Saudi Arabia

13-May-12

1.5%

49.10

1.2%

34.90

1060.SSE SABB

1.2%

35.10

7020.SSE Etihad Etisalat Co.

1.2%

66.75

Turnover (SAR) 804,167,240 4220.SSE Emaar the Economic City 365,567,565 4300.SSE Dar Al Arkan Real Estate Dev. Co. 342,783,441 4250.SSE Jabal Omar Development Co.

43Dar Al Arkan Real Estate Dev. Co.

13-Apr-12

% Chg.

69.50

1.1%

Worst Performers

106

13-Mar-12

Close

1090.SSE Samba Financial Grp.

Highest Turnover

106

105

64,280,166

7,931 / 5,916 2050.SSE Savola Group Co.

Tadawul Index 52 week High / Low

-6.8%

Turnover (USD)

MENA Highest Turnover

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

72% 2280.SSE Almarai Co.

% of stocks trading above 1yr avg. price

-5.1% -8.9%

SAR 11.60 SAR 48.00

SAR 13.70

GCC Highest Turnover

7,183 (-0.7%)

Tadawul Index (% Chg.)

125

95 13-Feb-12

KWD 0.242 SAR 22.95

EMAEmaar Properties (UAE) Best Performers

Summary

-8.1%

AED 0.31 -13.1% -5.7% KWD 0.265

KFI Kuwait Finance House (KUW)

Rebased Performance

% Chg.

AED 2.78% Chg. -5.8% Close

0.89 201 422Saudi Emaar the Economic 1.74 Basic Industries City Corp.

1.68

4.3%

8.0%

AED 0.79

ARTArabtec Holding

1.38

30.8% 8.8%

8.0%

Close

ARKArkan Building Materials Co.

10.05

55,415

10,499

MENA Worst Performers

10.26 6.87

7.3% 8.6%

OMR 0.720

GCC Worst Performers

1.96 FAC DEY Deyaar Development Co. 1.37 Commercial Facilities Co. 1.58 ABA Burgan Co. for Well Drilling 0.88 238 Rabigh Petrochem.

9.50

63,640

2

0.71 1.52

12.75

18,727

1

10.33 9.99

1.01 1.77

9.04 8.85

58,041

67

1.90

PB1.45

AED 1.18 QAR 6.35

QAR 21.60

BKMBankMuscat

PB

136.7% 9.8%

QAR 9.18

QGTQatar Gas Transport Co.

11.69 7.29

17,905 37,413

4

VFQVodafone Qatar

PE 17.14 8.23 10.24

31,502 98,547

46

Trailing

12.23

103,351

26 2,183

0.7% 6.6%

5.1%

Turnover 2,502 USD million

2,293 4,130

-0.2% 1.9%

-0.3%

52 Wk 5,916 Low

PE

KWD 0.116 SAR 5.60

KWD 0.170 OMR 0.703

GC Gulf Cement Co. KCB Al Khaliji Commercial Bank

Trailing

Mkt. Cap. USD million

2,775 10,090

10.0% -0.2%

1.4%

458

Turnover USD million

2.9% 9.3%

-1.8% 1.8%

0.0% 3.9%

52 Wk 7,931 High

52 Wk Low

% Chg.

KWD Close0.425 % 1187.9% Chg.

Global Investment GLO 3 428 Kingdom Hldg. Co. House

Period's Liquidity Ratio (PLR x)*

Index Level

Close

4 ME Mena Holding

Period's Liquidity 1 Ratio (PLR x)

-1

MENA Indices Highlights

MENA Indices Highlights

MENA Best Performers

Dubai

-2%

13-May-12

Abu Dhabi Abu Dhabi

-2%

-6%

Palestine

95

-4%

Dubai

0%

102

-2% -1%

Bahrain Qatar Bahrain Kuwait Oman Abu Dhabi

Abu Dhabi

0%

106

105

Kuwait

Palestine

100

Return DailyDaily Return (%)(%)

Dubai

Saudi Dubai

110

0%

Qatar Saudi

105

Oman Qatar

111

4%

Kuwait Oman

115110

Jordan Kuwait

113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Egypt Jordan

120115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

218,029,276

42Emaar the Economic City

1140.SSE Bank AlBilad

2310.SSE Saudi International Petrochemical Co.

Close

% Chg.

11.60

11.40

19.30 27.40

20.25

-4.5%

-3.8% -3.5%

-2.8% -2.4%

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

Close 75.25

Daily % Chg. 0.0%

High 75.75

Low 75.00

Turnover (SAR '000) 75,123

1 Alinma Bank

13.55

-2.2%

13.85

13.50

342,783

1 Arab National Bank

29.60

-1.0%

29.80

29.50

34

2 Almarai Co.

1 Bank AlBilad

1 Bank Al Jazira

69.50

27.40

-1.5%

11.40

-3.8%

66.75

1.1%

37.00

4 Emaar the Economic City

11.60

7 Etihad Etisalat Co.

4 Jabal Omar Development Co. 4 Jarir Marketing Co.

4 Kingdom Holding Co.

2 National Industrialization Co.

2 Rabigh Refining & Petrochemical Co. 1 Riyad Bank

1 Samba Financial Grp.

2 Saudi Arabian Fertilizer Co.

1 Saudi Arabian Mining Co.

-2.8%

25.60

1 Banque Saudi Fransi

4 Dar Al Arkan Real Estate Dev. Co.

1.5%

19.30

152.00 11.80

33.60

21.55

24.20

49.10

182.25

70.00

28.20

26.10

143

18,386

19.20

138,354

0.0%

-1.8%

0.4%

1.2%

11.95

34.00

21.95

24.45

49.20

11.30

804,167

66.00

42,923

151.75

7,364

33.30

35,316

24.10

11,367

11.70

21.45 48.70

5,699

19,776 9,241

0.6%

183.00

181.00

15,909

-0.3%

99.50

97.75

365,568

13.10

36,758

23.30

12,991

17.30

1,693

-1.3%

3 Saudi Cement Co.

88.00

-1.4%

90.00

88.00

1 Saudi Hollandi Bank

28.00

0.0%

28.00

27.60

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

20.25

-2.4%

20.75

20.25

16,127

16.80

79,489

34.30

14,029

34.20

59,037

5 Saudi Electricity Co.

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

98.25

13.15

-1.1%

23.50

-1.3%

17.35

-1.1%

16.80

-2.0%

31.90

13.30

23.85 17.80

17.15

31.00

36,569

31.00

2 Saudi Basic Industries Corp.

8,254

670

40.90

-0.7%

41.60

40.90

49,835

97.00

-0.5%

98.50

97.00

1,710

48.10

1.1%

48.20

34.90 35.10

49.10 8.85

1.2% 1.2%

-2.3%

-2.2%

35.30 35.20

50.50 9.10

33.70

5,225

25.30

218,029

-1.3%

1

32.90

11.50

20.10

48.41

1,042

8,404

12.15

154.00

71.75

16.25

29,035

-4.5%

-3.5%

67.25

25,022

47.70

31,003

8.75

271,339

49.10

37,622

742

327

68,832 645

6,999 48

483

1,048 912

469

189

% Change

Low

82.75

27.20

36.30

-1.0%

997

51,385

37.10

67.00

High

68.25

0.5%

12.00

52-Week

Volume ('000)

-16.6%

26.60

-12.2%

YTD 8.3%

44.9%

-3.1%

21.5%

17.20

-16.7%

38.0%

40.00

30.00

-7.5%

9.9%

13.60

6.20

31.90

13.85

15.75

-19.7%

24.3

-10.3%

51.0%

31.3%

41.6%

11.2

1.6

60.0%

9,860,000

nmf

107.83

50.75

26.90

56.75

32.2%

17,937,420

7.05

-9.9%

33.3%

34.9%

43,729,411

33.60

-33.8%

-17.4%

-10.0%

3.9%

-23.6%

42.40

-13.5%

23.10

2,783

16.30

24.25

-8.9%

5.4%

-9.9%

3.6%

15.50

-21.1%

23.70

-1.7%

12.7%

11,113,200

11.0

1.5

2.8%

-4.5%

7,425,000

10.1

1.4

-3.4%

-6.4%

25,200,000

nmf

1.7

23.3%

17,450,000

13.7

4.2%

35,100,000

11.7

-1.4%

27,618,750

7.4%

-6.7%

-8.7%

-4.0%

21.0%

13.0%

106.75

68.50

-9.1%

12.8%

38.6%

646

83.25

47.50

-42.2%

-31.3%

-20.2%

30,455

11.50

5.25

-23.0%

59.5%

24.6%

-12.7%

1.7

9.1%

18

41.60

46.6

4.6

33.00

56.25

28,675,000

14.2

42.60

756

1.5

13,464,000

23.7%

46.1%

1,209

-5.1%

10.2

2.3

54,790,709

-17.2%

27.82

1.2

-3.7%

17.75

37.00

11.5

-5.4%

24.45

1,687

1.6

nmf

1.6

2.0

788

35.50

7.8

nmf

2.0

10.2

12.8%

402

9.4

nmf

294,750,000

-4.4%

21.30

16.9

-10.1%

21.42

-17.4%

2.6

2.1%

29.30

15.55

44,190,000

1.3

8.8

5.0

24

-7.1%

36,300,000

0.8

11.2

22.2%

18.55

18,729,597

18,877,800

11.1

1.6

45,562,500

22.5%

-19.3%

-6.2%

9,120,000

28.4

1.5%

-10.2%

12.85

-13.4%

-22.5%

-17.3%

-10.5%

41.6%

-7.3%

57.25

21.00

46,725,000

58.8%

98.00

25.30

12,312,000

-15.7%

87.75

37.50

7,680,000

11.10

21.20

3.9

1.5

33,448,661

165.00

9.2%

1.3

-3.8%

27.8%

-7.9%

11.6

3.5

2.1

27.1%

28.20

25,160,000

39.7

20.1

-3.6%

13.10

20,325,000

8,220,000

50.00

109.75

4,682

27,800,000

69.25

3,704

96

28.3%

32.2%

24.6%

22.90

PB

14.7

7.6%

57.8%

Trailing PE

112,875,000

57.2%

-14.7%

Market Cap. (SAR '000)

-0.7%

-17.7%

165.00

551

12 mths

6.05

200.00

93

-9.1%

9.05

87

1,162

on high

21.6%

14.7%

11.6%

10,575,000 9,542,500

81,800,000

13,580,000

22.7 21.3 13.5

1.1 1.7 1.1

9.5

1.7

14.2

5.6

9,740,250

11.6

12,390,000

nmf

8.7

2.1

2.0

2.8

2.5

3.2

STOCKS WITH NBK CAPITAL

13

ALWATAN DAILY monday, may 14, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,446 (0.0%)

KSE General Index (% Chg.)

120

419 (-0.1%)

Advance/Decline Ratio

1.56 OULAFUELCommercial Facilties Co. 6,496 / 5,694 FACIL.KSE Gulf Cable and Electrical Ind. Co.

56%

% of stocks trading above 1yr avg. price

115

KSE General Index 52 week High / Low

Highest Turnover Turnover (KWD) 3,034,110 1,709,333

N National Bank of Kuwait

13-Mar-12

13-Apr-12

S&P GCC Large/Mid Composite

ZA Zain Kuwait

555,938

B Boubyan Bank

357,899

424,705

K Kuwait Finance House

13-May-12

2.9%

0.260

2.0%

1.380

1.5%

0.270

1.9%

0.132

1.5%

Worst Performers

MMena Holding

100

95 13-Feb-12

FOOD.KSE Oula Fuel Marketing Co.

28,803,830

Market Cap. (KWD '000) 104

% Chg.

1.420

13,937

Turnover (KWD '000)

105

SECH.KSE Kuwait Food Co.

458 / 396 NMTC.KSE National Real Estate Co.

KSE Weighted Index 52 week High / Low

110

Close

KSE Weighted Index (% Chg.)

Close

% Chg.

ABAR.KSE Burgan Co. for Well Drilling

0.242

IFC.KSE

International Finance Co.

0.097

-2.0%

NBK.KSE

National Bank of Kuwait

1.060

-1.9%

ALTIJARIA The Commercial Real Estate Co.

-5.1%

0.085

MABANEE. Mabanee Co.

-2.3%

1.000

-2.0%

KSE Weighted Index

Quotes Company Name A Agility

Close

0.405

32

0.086

0.0%

0.086

0.081

0

0.290

B Boubyan Petrochemical Co. B Burgan Bank

0.0%

8,707

0.514

1.700

1.2%

1.700

1.680

-5.1%

0.0%

0.270

1.9% 0.0%

0.430

1.2% 1.5%

0.400

-

0.242

0.810 0.270

0.242

1

0.790

36

0.430

0.112

85

1.360

-

0.194

0.182

0.0%

0.430

0.420

0.097

-2.0%

0.275

-

0.100 -

F Kuwait Food Co.

1.420

2.9%

1.420

1.400

K Kuwait International Bank

0.275

K Kuwait Projects Co. (Holding)

0.325

0.0%

0.870

-1.1%

1.000

-2.0%

1.060

-1.9%

N National Industries Grp. Holding

0.226

-0.9%

N National Real Estate Co.

0.132

1.5%

0.0%

0.425

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

0.310

-

0.148

0.730 0.275 0.880

425

0.270

110

0.325

20

0.425

3,034

-

-

9

0.870

0.330 1.020 0.450 1.080 -

0.228

1.060

1,709

0.224

319

0.132

1

0.216

57

0.148

0.260

2.0%

0.270

0.242

0.246

0.0%

0.246

0.246

6

0.216

0.0%

0.106

0.0%

0.132 0.218 0.106

0.0%

0.236

0.226

73

0.170

30.8%

0.170

0.170

3

0.740

0.0%

0.236 0.085

-2.3%

1.7%

0.086 2.400 0.750

0.084

7

2.320

144

-26.0%

0.019

132.0%

1.240

-13.8%

0.425 0.285

-20.8%

-19.2%

-6.0%

-18.9%

656,611

7.6% 3.8%

-10.5%

30.6%

-5.5%

172.2%

-4.3%

-26.7%

-4.1%

-7.8%

0.610

0.415

-27.9%

900

1.620

1.340

-12.3%

1.240

0.660

-29.8%

22.5%

-29.8%

1.020

0.709

-2.0%

27.9%

29.4%

0.963

0.386

6,980

0.710 0.236

0.281

-

-

-25.2% -19.1%

-15.8%

0.275

0.192

-17.8%

500

0.168

0.056

-21.4%

41,761

0.260

0.144

-43.1%

570,843

11.9

2.0

79,087

31.2

1.2

611,189

29.1

2.6%

0.9%

-

0.7

nmf

0.7

126,130

17.6

1.0

-7.5%

88,056

23.0

115,600

nmf

10.4%

23.2%

155,959

2.480

1.880

-3.2%

23.7%

18.8%

1,209,679

-17.8%

nmf

17.1%

-12.4%

-31.5%

1.4

2.1

0.067

30.8%

25.3

22.2

237,600

0.097

0.690

4.0

1.7

90,008

4.9%

-11.7%

1.080

0.8

30.2

129,680

-22.1%

0.0%

14.5

33.3%

-44.2%

0.216 -

1.4

3.1%

107,323

0.093

-

24.1

0.8

-14.0%

0.270

-12.6%

1.6

nmf

18.3%

74,435

1.9

26.9

292,693

-0.8%

6,101

19.7

0.9

-17.8%

0.200

20

280,568

0.7

-13.1%

0.248

7,881

nmf

4.0

nmf

2.0

2,323

0.136

72,408

9.9

77,880

15.2

-16.1%

103

104,060

3.7

4,614,707

-13.3%

31,000

8.3

-7.4%

-27.8% -4.4%

nmf

0.9

280,500

0.242

0.186

1.9

16.8

434,387

0.360

0.226

4.1

141,000

-17.7%

1,343

26,466

16.6

1.7

285,265

-8.8%

141,370

1.5

8.0

-21.4%

10.7%

4.1%

289,705

2,090,998

-8.8%

-5.9%

152,242

-25.2%

1187.9%

0.909

0.260

12.1%

nmf

1.9%

1187.9%

1.127

0.340

7.8%

1,030,338

-59.9%

0.0%

160,156 -

-13.6%

1.0

nmf

10.6%

12.7%

34.6

181,553

3,000

-12.7%

50,729

-1.2%

-12.7%

-11.3%

0.236

1.2

11.7

2.6

0.168

0.315

33.8

40.1

-2.8%

-4.9%

1.4

1,132,228

0.485

-56.3%

4.3

nmf

-22.1%

50

0.096

nmf

0.9

-12.2%

0.222

1.5

10.2

132.0%

-15.8%

1.0

5.7

144,926

136.7% -11.5%

1.9

295,911

164,272

-28.0%

0.5

20.0

94,500

5.2%

0.138

8,167

556

0.730

1,048,941

0.214

6,002

0

0.106

0.0%

-12.0%

0.255

8.9%

226,134

2.5%

0.340

4

8.6%

1.7%

907,944

-18.3%

67

1,027

62

0.150

18.9%

-7.9%

-12.9%

40,132

82

1.000

nmf

0.700

1.600

59,170

13

87,075

0.930

0.495

-

0.710

-17.3%

-4.6%

-48.5%

-

13

1.4%

2.400

Z Zain Kuwait

0.0%

-

-

-5.5%

-4.6%

14.2%

-12.4%

PB

15.9

-42.4%

1.300

-3.2%

-17.3%

PE

429,203

0.198

0.410

0.050

26,958

0

-1.6%

Trailing

Market Cap. (KWD '000)

9.3%

0.420

0.543

0

-18.3%

9.3%

12 mths

0.530

8,134 1,055

-8.7%

YTD

0.630

0.365

740

15

0.530

1.940

200

26

0.095

0.430

1.4%

-

-

0.0%

426

4,500

35

0.420

1.380

584

1

0.270

0.118

3,820

7

0.280

0.132

53,587

23

0.610

0.440

A Qurain Petrochemicals Industries Co.

6,200

228

0.610

1.2%

O Oula Fuel Marketing Co.

8

0.580

0.355

0.425

0.0%

0.720

N National Investments Company

-4.5%

25

0.440

N National Industries Co.

0.085

0.290

K Kuwait Cement Co.

N National Bank of Kuwait

-17.3%

0.430

0.430

M Mena Holding

0.079

0.657

-1.2%

JAJazeera Airways

M Mabanee Co.

0.104

5,110

0.425

0.610

0.188

P Kuwait Portland Cement Co.

327

31

0.610

IK Ikarus Petroleum Industries Co.

K Kuwait Finance House

-4.7%

59,745

1.380

K KIPCO Asset Management Co.

0.248

358

C Gulf Cable and Electrical Industries Co.

IF International Finance Co.

0.430

0.570

0.120

on high

7,778

0.590

0.116

IF IFA Hotels & Resorts

0.126

% Change

Low

0.600

0.810

G Gulf Bank

0.295

High

0.0%

C Commercial Bank of Kuwait G Global Investment House

0.0%

0.600

52-Week

Volume ('000)

0.600

0.242

F Commercial Facilities Co.

0.0%

0.126

A Burgan Co. for Well Drilling

C Combined Grp Contracting Co.

Turnover (KWD '000)

0.410

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

Low

1.2%

0.600

A AREF Energy Holding Co.

High

0.410

A Al Ahli Bank of Kuwait

T Al Themar Intl. Holding Co.

Daily % Chg.

-8.6%

61,356

30.8%

-32.7%

3,187,576

13.1

1.1

nmf

1.6

0.9

14.8

0.6

9.1

11.5

1.5

11.2

1.5

UAE Rebased Performance

Summary

Best Performers 1,488 (-1.8%)

DFM Index (% Chg.)

120

2,474 (-0.2%)

ADSM Index (% Chg.)

41% SIB.ADSM Sharjah Islamic Bank 0.15 ETISALAT.AEtisalat

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

115

1,754 / 1,301

DFM Index 52 week High / Low

110 106

Market Cap. (AED '000)

383,388,621

13-Mar-12 S&P GCC Large/Mid Composite

13-Apr-12 Abu Dhabi SE

0.5%

1.2% 0.0%

-0.2%

Worst Performers

E Emaar Properties

9,439,961

D du

13-May-12

8.71 8.83

Turnover (AED) 47,593,990 ARKAN.AD Arkan Building Materials Co. 19,375,055 ARTC.DFM Arabtec Holding 18,363,365 DEYAAR.D Deyaar Development Co.

E Etisalat

95 13-Feb-12

7.3%

-

222,221

A Arabtec Holding

100

% Chg.

1.18 0.88

#N/A

2,775 / 2,293 FGB.ADSM First Gulf Bank

Highest Turnover

100

100

-

ADSM Index 52 week High / Low

Turnover (AED '000)

105

Close GCEM.ADS Gulf Cement Co.

8,557,602

A ALDAR Properties

UPP.DFM

Close

% Chg.

0.79

-8.1%

0.31

-5.7%

2.78

Union Properties

0.37

TAQA.ADS Abu Dhabi National Energy Co.

1.17

-5.8% -3.6%

-3.3%

Dubai FM

Quotes Company Name

Close

Daily % Chg.

High

Low

A Abu Dhabi Commercial Bank

3.14

-1.0%

3.15

3.13

T Abu Dhabi National Energy Co.

1.17

-3.3%

1.17

1.17

A Air Arabia

0.59

-1.2%

0.60

0.59

1.02

-

A Abu Dhabi Islamic Bank

A Abu Dhabi National Hotels A ALDAR Properties A Amlak Finance

3.12

2.10

1.04

-1.0% -

-1.0%

3.14 -

1.06 -

3.10 -

Turnover (AED '000) 924

1,618 0

-

2,860

1.02

8,558

-

-

2.78

-5.8%

2.95

2.75

47,594

A Arkan Building Materials Co.

0.79

-8.1%

0.82

0.78

479

D Dana Gas

0.40

-2.4%

0.42

0.39

4,722

0.30

2,817

3.05

9,440

A Arabtec Holding A Aramex

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

1.82

2.80 0.31

3.05

-0.6% -

-5.7%

-2.6%

1.82 -

0.33

3.13

1.80 -

D Dubai Financial Market

0.98

-2.6%

1.01

0.97

D Dubai Islamic Bank

1.95

-0.5%

1.97

1.94

E Emirates NBD

2.76

-1.4%

2.76

2.76

E Emaar Properties E Etisalat F First Gulf Bank

G Gulf Cement Co. M Mashreq

N National Bank of Abu Dhabi N National Bank of Fujairah

N National Bank of Umm Al Qaiwain S Sharjah Islamic Bank

S Sorouh Real Estate Co.

2.94

8.71 8.83

1.18

67.00

-1.3%

0.5% -0.2%

7.3% -

8.85

0.0%

1.75

-

4.95 0.88

-

-

U United Arab Bank

3.95

-

-

-2.5%

-12.7%

7,283,250

7.0

0.8

8.80

6,802

-

-

771

6,153 88

-

-1.3%

1.0%

-27.6%

-4.5%

-27.6%

2,100,000

1.45

0.76

-28.3%

13.0%

-28.3%

4,248,534

-

0.57 -

-21.5% 0.0%

1.2%

0.0%

-18.9% 0.0%

16,807

3.46

1.18

-19.6%

83.6%

113.0%

603

1.45

0.71

-45.5%

-21.8%

-43.2%

-40.3%

-11.1%

-42.0%

3,255

1.96

1.69

-7.1%

-

3.24

2.67

-13.5%

8,969

0.46

0.20

-31.0%

11,794

3,060

6,567 6

2,108 561

133

0.67

3.63

0.34

2.80

3.30

11.20 10.75

1.44

2.41

8.57 6.98

0.67

-

102.00

67.00

-

4.95

3.00

872

1.02

0.80

769 -

6,148 5,319 30

1,474 -

7,377,882

1.98

-16.0%

-40.4%

157

-

-

-14.0%

2.65

1.10

2.93

8,261

0.8

-12.1%

2.90

0.76

9.00

2.24

1.45 1.49

7.38

1.4%

47.4% 5.5%

17.1% 0.5%

-10.9%

14.4%

-22.2% -17.9%

-4.6% 14.3%

-34.3%

-34.0%

0.0%

8.8%

-18.1% -1.7%

-1.6%

1.4

1,382,500

nmf

0.9

2,664,662

0.9

1,814,292

nmf

0.5

13,942,857

11.4

7,872,000 7,404,255

1.8 1.0

-19.2%

-10.3%

968,894 -

4.4%

34,289,842

-7.9%

2,800,000

2,625,000

48.6%

-12.2%

3,935,785

3.28

-12.2%

0.8

0.9

1.3

8.3

0.9

8.1

8.5%

4.50

-11.8%

0.4

9.0

2,134,440

7,312,181

35.3%

nmf

13.8 18.5

-17.7%

45.0%

-1.1%

8.7

5,445,000

1.4%

-24.4%

0.8

11.8 7.0

-27.5%

-24.9%

1.0

68,862,479 26,490,000

15,339,458

17.6%

0.24

4.7

2.4

-15.4% -6.1%

-31.0%

2.82

nmf

0.3

0.6

66.2%

90.7%

5.2

9.0

0.67

-22.8%

1.4

17,908,241

-29.2%

4.8%

12.0 7.1

2,640,801

-3.3%

-13.7%

1.1

14.0

-8.7%

-6.1%

9.1%

0.6

0.5

4,363,905

0.3%

-9.7%

4.6

nmf

5,707,386

-5.9%

0.3

1,530,000

-2.0%

-22.5%

1.1

9.0

10.3

-21.9%

3.90

0.50

1.1%

6.4

2,767,353

1.63

0.53

PB 5.4

4.63

17

550

0.39

-

4,810

PE

17,570,176

-13.7%

0.36

2.93

1.14

2.92

Trailing

Market Cap. (AED '000)

10.6%

1.88

6,116

-3.6%

1.36

3.55

12 mths

13.0%

2.26

18,363 4,956

0.99

0

519

YTD

-5.4%

1,710

1.13

1.02

2.69

3,331

8.62 8.77

-

3.32

-24.9%

19,375

-

294

0.68

1.18

-0.3%

* Closing Prices, Turnover and Market Cap. in USD

8.85

on high

1.31

2.94

-

% Change

Low

4,292

-1.7%

2.93

0.37

-

High

4,257

0.86

U Union National Bank U Union Properties

1.21

-

0.90

-1.0%

1.15

8.75 8.85

5,894

1.2%

1.00

T Tamweel

2.98

52-Week

Volume ('000)

7.4

1,150,000

12.4

1,259,205

nmf

2.7

0.5

0.4

0.5

4.8

0.7

11.4

2.0

0.5

STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY monday, may 14, 2012

QATAR Rebased Performance

Summary

Best Performers 8,536 (-0.1%)

DSM Index (% Chg.)

120

Advance/Decline Ratio

DSM 52 week High / Low

468,859,110

Market Cap. (QAR '000)

% Chg.

9.18

4.3%

68.10

0.6%

16.33

0.1%

58.00

8,892 / 8,071 QNNS.DSMQatar Navigation 210,404 QNBK.DSMQatar National Bank

Turnover (QAR '000)

110

Close

44% VFQS.DSM Vodafone Qatar 0.71 DHBK.DSMDoha Bank

% of stocks trading above 1yr avg. price

1.1%

133.50

KCBK.DSMAl Khalij Commercial Bank

0.3%

106

Highest Turnover

100

99

Worst Performers Turnover (QAR) 34,347,630 QTEL.DSM Qatar Telecom 21,811,448 ERES.DSMEzdan Real Estate Co. 14,335,977 QIBK.DSM Qatar Islamic Bank

V Vodafone Qatar

MMasraf Al Rayan IQIndustries Qatar

90 13-Feb-12

13-Mar-12

13-Apr-12

S&P GCC Large/Mid Composite

12,024,787

C The Commercial Bank of Qatar

13-May-12

11,152,338

Q Qatar Telecom

Close

% Chg.

120.30

-2.4%

77.30

-0.6%

141.90

-0.3%

20.00

CBQK.DSMThe Commercial Bank of Qatar

-1.0%

71.80

IQCD.DSM Industries Qatar

-0.3%

Doha SM

Quotes Company Name A Aamal Co.

Close 16.88

Daily % Chg.

High

-0.1%

K Al Khalij Commercial Bank

16.33

C The Commercial Bank of Qatar

71.80

-0.3%

E Ezdan Real Estate Co.

20.00

-1.0%

B Barwa Real Estate Co. D Doha Bank

26.60 58.00

0.1% 0.0% 1.1%

Turnover (QAR '000)

Low

16.94 16.37

16.66

607

26.45

4,787

26.70 71.90 58.00

20.29

71.50

12,025

19.91

88

57.50

1,270

IQIndustries Qatar

141.90

-0.3%

142.40

141.00

14,336

Q Qatar Electricity & Water Co.

142.00

0.0%

142.00

140.80

2,470

50.60

-0.2%

50.90

50.50

930

Q Qatar National Bank

133.50

0.3%

133.50

133.00

5,873

Q Qatar Telecom

120.30

-2.4%

122.40

119.50

11,152

M Masraf Al Rayan

Q Qatar Gas Transport Co.

Q Qatar International Islamic Bank Q Qatar Islamic Bank Q Qatar Navigation

26.90 16.21 77.30

68.10

V Vodafone Qatar

9.18

0.0%

0.0%

-0.6%

0.6%

4.3%

26.90

16.31

77.80

68.90 9.23

26.65

21,811

16.17

6,929

77.10

8,239

67.80

1,170

% Change

Low

on high

YTD

21.90

14.00

-22.9%

16.8%

180

31.90

26.60

-16.6%

50.00

-13.4%

34

168

18.00

16.06

85.50

67.00

101

146.80

118.80

18

148.00

129.50

18

56.20

45.50

814

427 107

24.97

28.10

-19.9%

85.30

-17.0%

10,350,715

7.6

0.9

-9.5%

7.6%

11,988,473

9.5

1.8

-14.5%

-7.4%

-11.8%

76.30

-9.4%

-8.3%

123.30

55.80

-5.8%

67.70

-21.5%

7.24

-0.4%

-2.4%

6.7% 1.7%

5,878,800

-2.8%

-11.6%

92

9.22

-11.2%

-8.8%

16.20

122.73

86.70

1.6

-4.9%

13.5%

-10.0%

PB

19.0

-3.4%

-4.1%

Trailing PE

9,191,160

-4.3%

-3.3%

Market Cap. (QAR '000)

2.7%

-13.8%

22.50

18.34

12 mths

-9.9%

141.73

3,806

-16.0%

18.60

44 17

-9.3%

68.00

22 4

34,348

8.75

High

36

563

16.30

52-Week

Volume ('000)

12.0

17,766,650 53,049,934

-3.5%

9.3

1.3

nmf

1.9

78,045,000

10.1

3.2

14,200,000

10.4

4.7

20,175,000

-3.7%

1.1

14.1

2.4

8,977,811

10.9

4.6

-4.6%

18,265,464

12.8

1.7

-11.0%

-21.6%

7,799,166

10.8

0.7

21.6%

15.2%

7,760,772

nmf

1.2

-6.3%

-3.4%

115.6%

7.2%

7,659,259

0.7%

93,413,880

84.5%

38,534,496

11.4

1.7

12.0

2.3

15.2

1.8

OMAN Rebased Performance

Summary

Best Performers 5,736 (-0.2%)

MSM Index (% Chg.)

120

42% NBOB.MSMNational Bank of Oman

% of stocks trading above 1yr avg. price

0.20

Advance/Decline Ratio Turnover (OMR '000)

6,893,584

Market Cap (OMR '000)

% Chg.

0.29

RCCI.MSM Raysut Cement Co.

6,152 / 5,419 OTEL.MSMOman Telecommunications Co. 1,444 BKMB.MSMBank Muscat

MSM 52 week High / Low 110

Close

RNSS.MSMRenaissance Services

0.7%

1.23

-0.1%

0.59

-0.2%

1.29

-0.2%

0.58

-1.0%

106 103

Highest Turnover

100

Worst Performers Turnover (OMR) 181,021 OCOI.MSM Oman Cement Co. 106,481 RNSS.MSMRenaissance Services

B Bank Muscat

O Oman Telecommunications Co.

85,553

O Oman Cement Co.

90 13-Feb-12

13-Mar-12

13-Apr-12

13-May-12

S&P GCC Large/Mid Composite

35,540

R Raysut Cement Co.

10,062

R Renaissance Services

Close

% Chg.

0.65

BKMB.MSMBank Muscat

OTEL.MSMOman Telecommunications Co. RCCI.MSM Raysut Cement Co.

-1.5%

0.58

-1.0%

1.29

-0.2%

0.59

-0.2%

1.23

-0.1%

Muscat SM

Quotes Company Name

Close

B Bank Dhofar

0.442

N National Bank of Oman

0.292

O Oman Telecommunications Co. R Renaissance Services

B Bank Muscat

0.590

O Oman Cement Co.

R Raysut Cement Co.

Daily % Chg.

High -

-0.2%

Turnover (OMR '000)

Low

-

-

-

0.592

0.292

1.289

-0.2%

1.291

1.280

106

0.579

-1.0%

0.581

0.570

10

1.229

-0.1%

0.652

86

0.644

1.229

307

7

0.292

-1.5%

-

181

0.587

0.7%

0.649

Volume ('000)

High

% Change

Low

0.537

on high

0.423

0.671

YTD

-17.7%

0.572

-1.7%

61.7%

83

1.425

1.041

-9.5%

17

0.950

0.458

-39.1%

29

1.250

0.711

-3.3%

50.2%

-9.9%

0.416

-6.4%

-6.3%

0.290

0.693

-18.3%

-11.4%

0.324

12 mths

-2.9%

-12.1%

25

132

36

1.229

52-Week

Market Cap. (OMR '000)

-7.4%

PB

12.1

323,543

9.0

1.2

8.7

2.0

nmf

1.0

15.6

245,800

14.6

16.1%

966,750

6.2%

-38.3%

163,333

2.1

8.6

214,736

-1.5%

17.5%

PE

486,251

1,060,108

10.6%

Trailing

1.2

1.5 2.5

BAHRAIN Rebased Performance

Summary

Best Performers 1,160 (0.0%)

BSE Index (% Chg.)

115

32%

% of stocks trading above 1 yr avg. price

-

Advance/Decline Ratio

110

1,383 / 1,129

BSE 52 week High / Low 106

105

34

Turnover (BHD '000)

6,553,822

Market Cap. (BHD '000)

101

#

#

13-Mar-12 13-Apr-12 S&P GCC Large/Mid Composite

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A #N/A #N/A

#

13-May-12 Bahrain SE

#

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

Worst Performers Turnover (BHD) AUB.BSE #N/A #N/A

A Ahli United Bank

95

% Chg.

#N/A

Highest Turnover

100

90 13-Feb-12

Close #N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

Close Ahli United Bank

% Chg.

0.61 -

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (BHD '000)

A Ahli United Bank*

0.610

-

-

-

-

A Arab Banking Corp.*

0.460

-

-

-

-

-

-

-

-

-

-

-

-

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 0.090

0.466

0.394 797

0.220

0.550

0.260

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Volume ('000)

52-Week High

% Change

Low

on high

YTD

-

0.676

0.599

-9.8%

-

0.530

0.420

-13.2%

0.380

-4.1%

18.9%

0.0%

0.0%

-

-

1.029 0.116 0.486 0.420 797

0.857 0.082 0.390 797

-9.1%

3,192,469

9.5%

-19.3%

1,430,600

-2.9%

671,040

-30.0%

637,560

-8.3%

470,448

-0.4%

-22.4%

0.0%

-4.8%

-9.6%

-22.4% -5.7%

-

0.240

0.065

-8.3%

238.5%

158.8%

-

0.424

0.260

-38.7%

-13.3%

-25.7%

-

0.600

0.545

-8.3%

Market Cap. (BHD '000)

1.2%

-9.6%

-6.2%

12 mths

-4.3%

943,462

Trailing PE

PB

10.1

1.3

7.8

0.8

84,571

nmf

0.8

335,434

10.5

589,108

216,986

6.8

0.4

8.5

1.3

4.5

0.6

10.2

1.7

nmf

nmf

1.4 1.0 1.0

LIFE

Pizza = Portable Nutrition

Pizza is many things, including tasty and portable. And if you pay attention to your toppings, pizza can be nutritious, too. Pizza crust provides carbohydrates and B vitamins. The cheese adds calcium and protein, while tomato sauce contains vitamins A and C, along with other nutritious compounds. Top your pizza with ingredients that maximize nutrition: Canadian bacon, artichoke hearts, peppers, broccoli or spinach, shrimp, crabmeat or pineapple. Choose thin crust over stuffed, deep dish or thick, all of which are higher in fat and calories.

Or see if whole-grain crust is an option. Have a salad with your pizza to both fill you up and increase the nutritional content of your meal.

monDAY, may 14, 2012

Huge asteroid Vesta actually is an ancient protoplanet Data from the Dawn spacecraft now reveal that Vesta, as wide as the state of Arizona, is large enough to have had its own internal geologic evolution

Moreover, the huge asteroid isn’t just some chunk of uniform rock. Rather, it’s now known to be a differentiated object with an iron core about 137 miles (220 km) wide.

That’s big enough, perhaps, to have once sustained a dynamo like the one that generates Earth’s magnetic field, researchers said.

The team figured out the dimensions of Vesta’s core in part by carefully tracking Dawn’s movements through space, then using this information to calculate Vesta’s mass, density and gravitational pull with unprecedented precision.

Other Dawn data also back Vesta’s protoplanet status.

For instance, its surface composition implies a complex geological history that’s more similar to that of terrestrial planets than other asteroids, researchers said. And Vesta boasts color variations unlike anything seen on an asteroid before, further suggesting that the massive object is something special.

“We now know that Vesta is large enough to have had its own internal geologic evolution and is not just a battered lump of rock,” said Paul Schenk of the Lunar and Planetary Institute in Houston, lead author of another of the new studies.

WASHINGTON: New observations from a NASA spacecraft show that the huge asteroid Vesta is a battered protoplanet left over from the solar system’s early days, with a unique mix of characteristics unknown from any other space rock according to SPACE. Scientists had thought that Vesta, the second-largest body in the main asteroid belt between Mars and Jupiter, probably started down a planet-forming path shortly after the solar system’s birth. Data gathered by NASA’s Dawn probe have now confirmed that suspicion, researchers announced in a raft of studies.

“We now know that Vesta is the only intact, layered planetary building block surviving from the very earliest days of the solar system,” Dawn deputy principal investigator Carol Raymond, of NASA’s Jet Propulsion Laboratory in Pasadena, Calif., told reporters over the weekend The other objects like Vesta, researchers added, were probably incorporated into full-fledged planets or destroyed by collisions long ago.

More discoveries to come

Some surprises

“Those studying meteorites that have fallen to Earth, many from Vesta, had produced a theory on the evolution of the solar system and what Vesta should be made of,” said Dawn principal investigator Chris Russell of UCLA, lead author of one of the six new Science papers.

“They were very, very right,” Russell told SPACE via email. “This is good, because we can now use that model to understand more about the solar system.”

But Dawn has also delivered some surprising new results. The gigantic Rheasilvia basin at Vesta’s south pole, for example, apparently was created by a massive impact just 1 billion years ago or so - long after the solar system’s collision-filled “shooting gallery” stage is thought to have ended. “An age of about 1 billion years for Rheasilvia is unexpectedly young,” Simone Marchi of the Southwest Research Institute in Boulder, Colo., lead author of another of the new papers, said in a statement. “This result has important implications for our understanding of the evolution of Vesta, its asteroid family and the inner main asteroid belt

FILE - This image obtained by the framing camera on NASA’s Dawn spacecraft shows the south pole of the giant asteroid Vesta. (AFP)

in general.” “We have just started exploring Vesta’s secrets, and I’m sure other intriguing results will come along shortly,” Marchi added.

The protoplanet Vesta

With a diameter of about 330 miles (530 kilometers), Vesta is roughly as wide as the US state of Arizona. In the main asteroid belt, only the dwarf planet Ceres is bigger.

The $466 million Dawn spacecraft arrived at the huge asteroid in July 2011 to help unlock its many secrets. One of

Parts of Mount Fuji ‘could collapse’ if fault shifts FILE - The sun rises behind Japan’s Mount Fuji. Parts of Mount Fuji, a national symbol and key tourist attraction, could collapse if a newlydiscovered faultline under the mountain shifts, a governmentcommissioned report has warned. (AFP)

PARIS: Parts of Japan’s Mount Fuji, a national symbol and key tourist attraction, could collapse if a newly-discovered faultline under the mountain shifts, a government-commissioned report has warned. A three-year study by seismologists discovered a previously unknown active fault underneath the mountain, which sits around 100 kilometers (60 miles) west of Tokyo. “It’s possible that (parts of) the mountain could collapse with mudslides flowing to Gotemba,” a city between the mountain and the Pacific, said Yasuhiro Yoshida, director for earthquake investigation at the science ministry. A team of researchers, led by academics from the University of Tokyo, fired simulated seismic waves at the mountain, which revealed a fault that was theoretically capable of generating an earthquake

of up to magnitude seven. The team said they believed the fault moved some time in the last million years, although it was not clear when.

Yoshida said local geography showed Mount Fuji experienced major mudslides nearly 3,000 years ago, but that more studies are required to determine how the fault could affect potential volcanic activity, and vice versa. The area around the mountain, an almost perfect volcanic cone that is much admired for its beauty, is known for having frequent earthquakes and numerous fault lines, even for quake-prone Japan. Japan has been on heightened alert for possible quakes and other natural hazards since the 9.0 magnitude quake and the tsunami of March 2011 killed 19,000 people and sparked a nuclear emergency at Fukushima. -AFP

the probe’s main missions, researchers said, is to determine if Vesta is indeed a long-surviving protoplanet - a body left over from the solar system’s first few million years, many of which later coalesced to form rocky planets such as Earth and Mars.

Scientists got this idea mainly by examining fallen howardite-eucrite-diogenite (or HED) meteorites, which are thought to come from Vesta. The new Dawn results strongly support the protoplanet notion - by confirming that Vesta is indeed the HED meteorites’ parent body, for starters.

The new results are based on data that Dawn gathered during the early stages of its stay at Vesta. The spacecraft will continue studying the protoplanet until Aug. 26, so we should expect more discoveries from the mission, researchers said.

“We have not yet reported on the high-resolution measurements made at low altitudes,” Russell said. “We will be searching for water, just like there have been water searches on the moon.”

Further, Vesta’s far northern reaches have been in shadow thus far, so Dawn has been unable to study large chunks of the protoplanet. But that will change before too long.

“Sunlight is moving northward on Vesta, and we will soon see the north pole regions,” Russell said. “What could be there to complement what we see in the south?”

When Dawn finishes up at Vesta, it will start the long trek to the dwarf planet Ceres, which is roughly as wide as Texas. The probe is scheduled to reach the “queen of the asteroid belt” in February 2015 and embark upon a whole new round of discoveries.

“We expect that Ceres is a much wetter world” than Vesta, Russell said. But, he added, “we have no meteorites to help us here. Everything will be a surprise.”

Software will ID long-dead people in paintings

NEW YORK: Art historians at the University of California, Riverside, hope to identify people portrayed in 15th-century paintings using the same software used to spot terrorists in a crowd according to LiveScience.

The researchers hope the software will be able to find matches between known figures in some portraits and unknown figures in others. First, however, they have to see whether programming designed for three-dimensional analysis will work as well with two dimensions.

The research team earned a $25,000 grant from the National Endowment for the Humanities to test the software on art pieces, the university.

Recognizing people in paintings will satisfy natural human curiosity, of course, but lead researcher Conrad Rudolph said it also can help establish relationships between important political figures from the past. In the case of an unidentified person portrayed in the company of a

known pope, for example, identifying the mystery man would show how wellconnected he was with the leader of the Catholic Church.

“Identifying the subjects of these historical portraits can help us better understand the social history of the work of art,” Rudolph, a UC Riverside art historian, said in a statement.

Rudolph and his team still aren’t sure, however, whether software made to recognize real, live human faces will work on two-dimensional images that weren’t necessarily true to life. Queen Elizabeth I of England, for example, was known for commissioning portraits that depicted her as younger than she was and that fixed her bad teeth and smallpox scars.

To test the facial-recognition software, the research team first plans to compare busts to people’s death masks, the clay molds that people used to make to commemorate famous people who died. The team’s idea is that the software may have

an easier time when both faces are 3D. If that comparison works, researchers will move on to comparing death masks with 2D painted portraits, then to comparing painted portraits with one another. “If this 3D-to-3D test is encouraging, the project would systematically expand to 3D-to-2D and eventually test portraits of known subjects against unidentified portraits,” Rudolph said.

If the 2D-to-2D method works, Rudolph says, other art historians may start using it regularly. It could also be used to compare and identify non-faces. The software could compare architectural details in buildings, for example, or even ancient writing in different manuscripts, to see if they were written in the same place or time. Right now, the only way to compare ancient handwriting is just to have an expert look at it.

A website and museum exhibit about the new facial recognition method are in the works, according to UC Riverside.

Taiwan Buddhist animal rites ‘killing millions’

PARIS: Tens of millions of animals, mostly fish and birds, are dying every year in Taiwan because of so-called “mercy releases” by Buddhists trying to improve their karma, according to animal welfare activists. The government is now planning to ban the practice, saying it damages the environment and that a large proportion of the 200 million or so creatures released each year die or are injured due to a lack of food and habitat. Around 750 such ceremonies are carried out in

Taiwan each year, according to the Environment and Animal Society of Taiwan. Negotiations have seen some groups agreeing to halt the practice, but others have yet to accept a ban, Lin Kuo-chang, an official from the government’s Council of Agriculture, told AFP on Sunday. Proposed amendments to current wildlife protection laws would see offenders facing up to two years in jail or fined up to Tw$2.5 million ($85,000) for such unauthorized releases, he said. -AFP

‘Email vacations’ boost job productivity, lower stress: Study CONNECTICUT: Email vacations while on the job could benefit people’s health, reducing stress levels and contributing to better focus, a new study suggests according to HealthDay News.

Researchers from the University of California, Irvine, and the U.S. Army found that a group of workers who were cut off from office email use for five days experienced more natural, variable heart rates and switched between computer windows only half as much. Study co-author Gloria Mark, a professor of informatics at the university, said the findings could help boost productivity in offices that choose to implement these email vacations, either by controlling email login times, batching messages or through other strategies.

“We were surprised by the results, because they didn’t have to turn out this way,” Mark said. “It’s possible that people might have been even more stressed not to have email, to feel like they were missing out on something, so we didn’t expect that people would become significantly less stressed.”

Mark and her colleagues presented the study this week at a meeting of the Association for Computing Machinery, in Austin, Texas. Research presented at scientific conferences is considered preliminary and has not been peer-reviewed. Thirteen civilian employees at the Army’s Natick Soldier Systems Center, near Boston, took part in a three-day baseline data-collection phase, including interviews about their existing multitasking and email usage, and a five-day no-email period. All participants, who were split between men and women,

were information workers whose job titles included chemical engineer, psychologist, materials scientist, biologist, food technologist and research administrator.

Co-workers who continued reading emails switched screens twice as often -- an average of 37 times per hour compared with 18 for “vacationers” -- and were in a steady “high-alert” state, with more constant heart rates, while those removed from email had more natural, variable heart rates, according to the study. They reported feeling better able to do their jobs and stay on task, with fewer stressful and time-wasting interruptions. “While the study focused on email . . . it really got at some important issues such as multitasking, focus and being present at what we do on a day-to-day basis,” said David Ballard, head of the American Psychological Association’s Psychologically Healthy Workplace Program. “It really highlights the importance of people not trying to do so many things at one time and being present at what they do.” Despite the small number of participants, the results were robust, researcher Mark said, and the only downside participants reported was feeling somewhat isolated -- though they were able to gather certain necessary information face to face from colleagues who did have email access. Mark said she’d like her future research to focus on how digital technology affects offline relationships, not just in the workplace. “People are so consumed with technology, it’s 24/7,” she said. “I think the current younger generation interacts very differently than the older generation. I’d like to know the effect on interpersonal skills.”

This NASA image shows an outburst produced by a black hole in a nearby galaxy which has provided direct evidence for a population of old, volatile stellar black holes. The discovery, made by astronomers using data from NASA’s Chandra X-ray Observatory, provides new insight into the nature of a mysterious class of black holes that can produce as much energy in X-rays as a million suns radiate at all wavelengths. Researchers used Chandra to discover a new ultraluminous X-ray source, or ULX. These objects give off more X-rays than most binary systems, in which a companion star orbits the remains of a collapsed star. These collapsed stars form either a dense core called a neutron star or a black hole. The extra X-ray emission suggests ULXs contain black holes that might be much more massive than the ones found elsewhere in our galaxy. (AFP)

16

ALWATAN DAILY

CULTURE

mondAY, may 14, 2012

Korea Week bridges understanding, strengthens relations with Kuwait

Korean children clad in traditional outfits carry lanterns Ricky Laxa Staff Writer

KUWAIT: “I am proud to introduce Korean culture to Kuwaiti friends and people, and all other residents in Kuwait. Culture is the best way to connect people to people, so I do hope, throughout this event, we will deepen and widen our relations with local people, thereby enhancing mutual understanding, leading to more firm bilateral relations between the two countries,” commented Ambassador of the Republic of Korea to Kuwait, KIM Kyung Sik during the launch of the week-long Korea Week event, which officially concluded Friday with huge success.

The event, held under the patronage of Secretary-General of the National Council for Culture, Arts and Letters

The Kuwaiti corner offers delicacies and traditional brewed tea.

Korean nationals prepare traditional Korean beef dish.

attended the occasion with heads of diplomatic missions, senior officials and guests. The Korean envoy thanked all those who made the event happen that included members of the Korean community, Kuwaiti volunteers and embassy staff.

The Korea Week provided an abundance of opportunities to learn and experience Korean culture. Programs of the first day of the event (Day of taste Korea) included Korean Food Festival which showcased the best of Korea foods and Korean traditional wedding ceremony, and Kids Hanbok Fashion Show. The Korean community presented “Bibimbap” as a flag dish for Kuwaitis. Guests picked up the ingredients that they liked and mixed with red pepper paste dressings and enjoyed the taste. Other Korean dishes such as beef barbeque (Bulgogi), stir-fried rice cake

Arab guest tries on hand-painted mask.

(Tokpokki), “Kimchi” and other popular Korean dishes and sweet called “Hangwa” were distributed to the participants, too.

The day also included Kids Hanbok (Korean traditional clothing) fashion show, in which more than thirty Korean kids participated as models, and some showed up with traditional Kuwaiti dress.

Another ceremony was the Korean traditional wedding ceremony, which earned a big applause from the audience.

The first day of Korea Week according to organizers, sponsors and attendees was a huge success.

Korean market and Charity bazaar were added to the traditional wedding ceremony and kids hanbok fashion show on the second day (May 9), known as “Day of buy Korea” saw visitors able to buy various Korean souvenirs.

The Embassy and organizers hope that more people will visit Korea and its culture.

“I would like to state that our focus for Korea Week is on real communication and exchange. We wish to promote a meaningful exchange between Korean and Kuwaiti cultures throughout the week. I have been pleased to see that more and more Kuwaitis want to know about Korea and at the same time, more and more Koreans have been eager to know about Kuwait and Arabs. So in conclusion, I would like to say that the Korea Week event is a precious outcome of the work of Korean people and Kuwaitis.

I really thank you, all those who helped and volunteered for this week, and I also do hope that all visitors will have a chance to taste, feel, and enjoy Korea during this event”, concluded the Korean Envoy.

ACK has new auspicing partners for degrees in Management, Marketing, Civil and Mechanical Engineering KUWAIT: Christine Picone, Director of Admissions and Registrar of the Australian College of Kuwait (ACK), announced that ACK has successfully partnered with Victoria University (VU), Australia, for auspicing the degree of Bachelor of Business, and with Central Queensland University (CQU) for the Bachelor of Engineering Technology Civil and Mechanical programs.

procedures are in line with Australian best practice and ensure that ACK Degree graduates have a qualification that is well respected internationally as well as locally.

The expectations applicable to ACK staff and students are the same as for staff and students within the Australian based campuses of the auspicing partners,” Picone elaborated.

General overview about the new auspice partners

Visits by auspicing partners to ACK.

When ACK first commenced in 2004, international agreements were signed for Diploma programs in Business and Engineering. At the beginning of 2007 the college expanded into Degree programs and during 2010 a comprehensive review of these auspicing arrangements was undertaken culminating in new partnerships with VU and CQU. Both these universities have a strong emphasis on vocational preparation and are more suited to the needs of ACK Diploma graduates as they move into higher level studies.

“Regular visits are made by administration and academic staff from auspicing partners to meet with ACK management, faculty and students. Very positive feedback has been received from such visits including a recent complimentary report from Dr Karen Manning who led the most recent VU delegation,” Picone continued.

Enrollment and PUC requirements

Advantages of the new auspice agreements for ACK

“The new auspice partners offer both Degree and Diploma programs in Australia and are therefore much more familiar with the background of students locally in Kuwait who have completed their Australian Diploma qualifications at ACK. This has led to more fruitful interchange between the academic staff members in Kuwait and their Australian counterparts” said Picone.

Advantages of the new auspice agreements for ACK students

“For Management and Marketing Degree students at ACK, the shift to VU has meant an increase in availability

Christine Picone, Director of Admissions and Registrar at the Australian College of Kuwait (second left) along with the other management staff, on the ACK campus.

of specialized units relating to their particular major. This leads to better focused studies and qualifications more directly aligned to individual desired career paths.

For Civil and Mechanical Degree students at ACK, the move to a CQU licensed qualification involves an emphasis on Project Based Learning (PBL) which gives students a more interactive learning environment preparing them in

an engaged manner for working at a professional level in industry teams,” Picone added.

Overview about academic policy and procedure of the agreements

“The requirements both for ACK and students relating to the fulfillment of auspicing partner academic policies and

NKPIS commemorates Philippines’ National Hero with oratorical contest Ricky Laxa Staff Writer

KUWAIT: The New Kuwait Philippine International School held a remarkable oratorical contest commemorating the Philippine’s national hero Dr. Jose Rizal’s heroic deeds.

Fourteen young male contenders delivered the same piece and fourteen young women representing the modern Maria Clara vied for the title of “Young Maria Clara”. The decisions of the judges were unanimous and uncontested due to the impressive performance and delivery of the winners.

Christopher Ivan Bernabe bagged the grand prize for the Young Jose Rizal title with Bernard Espena as 1st runner up and successively Jonathan Calvez 2nd Runner-up, John Dino Villanueva 3rd Runner-up and Ismael Yacoub as 4th Runner-up. For the Young Maria Clara, Reham Palle impressed the judges with her smooth delivery of the piece that awarded her the grand prize title with Glory Gabrielle Lambey as 1st Runner-up, Aeisha Morsey as 2nd Runner-up, Najwa Lacson as 3rd Runnerup, Geosel Lusung and Joan Nathalie Malic tying on 4th Runner-up.

Criteria for judging included; content with 30 percent, clarity in diction 25 percent, voice projection with 25 percent and 20 percent for stage presence. Judges were ABS-CBN Consultant for Middle East and Journalist of The Arab Times Maxie Santiago, Journalist of The Kuwait Times Ben Garcia and GMA 7 TV News Correspondent and Senior Journalist of Al Watan Daily Ricky Laxa. Principal of NKPIS Dr. Rose Puno in her opening remarks lauded the contestants for their effort to come up with such one of a kind performance and hoped that such experience will contribute to their nationalism and personal growth.

José Protacio Rizal Mercado Alonso Realonda was a Filipino polymath, patriot and the most prominent advocate for reform in the

Winners of the Young Jose Rizal Oratorical Contest, judges and Principal of school Dr. Rose Puno, at the school hall of NKPIS. (Al Watan Daily)

Philippines during the Spanish colonial era. He is regarded as the foremost Filipino patriot and is the national hero of the Philippines. His execution by the Spanish in 1896, a date marked annually as Rizal Day, a Philippine national holiday, was one of the causes of the Philippine Revolution. Jose Rizal, the national hero of the Philippines and pride of the Malayan race, was born on June 19, 1861, in the town of Calamba, Laguna. He was the seventh child in a family of 11 children (2 boys and 9 girls). Both his parents were educated and belonged to distinguished families. His father, Francisco Mercado Rizal, an industrious farmer whom Rizal called “a model of fathers,” came from Biñan, Laguna; while his mother, Teodora Alonzo y Quintos, a highly cultured and accomplished woman whom Rizal called “loving and prudent mother,” was born in Meisic, Sta. Cruz, Manila.

María Clara, whose full name is María Clara de los Santos, Rizal, also described her as Inang Pilipinas (Mother Philippines) is the heroine in

Noli Me Tangere, a novel by José Rizal, the national hero of the Republic of the Philippines.

Maria Clara is the childhood sweetheart and fiancée of Noli Me Tangere’s hero, Juan Crisóstomo Ibarra, the son of Don Rafael Ibarra. Although raised as Santiago “Kapitan Tiyago” de los Santos’s daughter, Maria Clara is the illegitimate offspring of Father Dámaso, a Spanish friar and Doña Pía Alba. Doña Alba is the wife of Kapitan Tiyago, who were native Filipinos.

Father Damaso (also known as Padre Damaso) is known to Maria Clara as a godfather. Maria Clara never met her mother because Doña Alba died during the delivery of her daughter.

She grew under the guidance and supervision of Tía Isabél, Kapitan Tiyago’s cousin. While her boyfriend Crisostomo Ibarra was travelling in Europe, Kapitan Tiyago sent her to the Beaterio de Santa Clara, a convent where she developed femininity under religion. Later in the novel, Maria Clara discovers the truth that Father Damaso is her biological father.

With regard to enrolments at the college all ACK Degree students are required to meet the official entry standards nominated by the PUC. Kuwaiti students are also able to apply for PUC Scholarships subject to meeting the related criteria. “As of May 2012, 400 students are enrolled in ACK Management and Marketing Degree programs and a further 160 students are undertaking ACK Civil and Mechanical Degree programs.

Enquiries with regard to ACK Degree, Diploma and English Language courses can be directed to the Applications and Scholarships division under the Office of the Registrar located at the West Mishref campus in Al Aqsa Mosque Street. Expressions of interest for the 2012/2013 Academic Year can be made by initially telephoning 1828225 ext 4018 or emailing admissions@ack.edu.kw,” Picone concluded.

‘Kuwait Culture Week’ to be celebrated in India KUWAIT: The Indian public gets a chance of a closer glimpse of Kuwaiti culture and traditions through the activities of “Kuwait Culture Week” which is to be held May 14-19 in cooperation between the embassy and the Indian Council for Cultural Relations (ICCR), Ambassador Sami Mohammad Al-Sulaiman told KUNA on Sunday.

The ambassador said the historical and close relations between the two nations and people and a great deal of shared cultural traits and values all show the prudence of holding such events. The activities, he said, would be taking place in the capital as well as in Jaipur, Rajasthan. The first attraction is a joint arts and crafts exhibition, to be inaugurated by the Ambassador and ICCR Secretary General, Suresh K. Goel. The officials will later head to Kamani Auditorium, Delhi’s most prestigious theatre hall for a folklore performance by Kuwait Television Troupe.

There is also a special arts show at the embassy on May 16, and lectures at Sheikh Sabah

Al-Ahmad Library at the Jamia Millia Islamia University and at Jawahar Lal Nehru University. This is in addition to a meeting at the Kuwaiti Diwaniya with participation of a Kuwaiti media delegation, visiting upon official invitation by the Indian Government. The delegation includes representatives of the Kuwaiti press body and is presided by Kuwait Journalists Association Chairman Ahmad Bahbahani.

The delegation is then to go to Jaipur in the northern region of the country where the official cultural activities are to start May 18. The inauguration of activities in Jaipur would be in presence of the Jaipur State Assembly Speaker, Deependra Singh, and following would be a musical performance by Kuwait Television Troupe at the Clarks Hotel. Lectures would also be given at Jaipur University.

The Ambassador expressed appreciation for the efforts of the Ministry of Information and the External Media Department in particular and also the great hospitality on the part of the Indian Government. -KUNA

Mexico names Kuwait as guest honor at its annual cultural festival

KUWAIT: Mexico named Kuwait as a guest of honor for this year’s annual cultural festival which includes the participation of many local government and private institutes as well as various foreign embassies. Choosing Kuwait as a guest of honor reflects the deep ties between Kuwait and Mexico and it also accentuates Kuwait’s tremendous efforts in enhancing bilateral relations since the establishment of Kuwaiti embassy in Mexico two years ago.

Kuwaiti ambassador to Mexico Samih Jawhar Hayat commented by saying that Kuwaiti embassy’s engagement is “very important” in this event. “It is a great opportunity to familiarize the Mexican society with the Kuwaiti heritage, its culture and its many accomplishments throughout the years,” Hayet went on saying.

The Kuwaiti section at the festival was opened by the Kuwaiti envoy and Mexican Prime Minister of the Federal District and Mexico City’s Mayor Marcelo Ebrard. -KUNA

ALWATAN DAILY

entertainment Song Of The Day

Fahad AlSabah Staff Writer

Song: Jumanji Artist: Azealia Banks Album: Jumanji - Single Genre: Rap In short: People are always skeptical when it comes to new female rappers, but after the infectious “212”, Azealia Banks is back with the tropical “Jumanji”. Produced by Hudson Mohawke and Nick Hook, the song makes no excuses for its brassy production; Explosive bass and steel drums make only two tenths of this genius track’s production.

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

The Buzz Costner donates bus to SD baseball association Actor Kevin Costner has donated a bus to the Lead-Deadwood Baseball Association. The Black Hills Pioneer reports that the 1995 15-passenger Chevy Blue Bird will be used to transport Little Leaguers, the high school team and the American Legion and VFW teams. Original Deadwood Tour Manager Jan Van Tassel says the donation is appropriate for Costner, who’s made movies about baseball and owns businesses in South Dakota. Association vice president Bob Nelson Jr. says the actor’s representative in Deadwood had heard the association needed a vehicle and contacted Costner. Costner, who owns a casino in Deadwood, then offered the bus. Nelson tells the Rapid City Journal that the bus will be helpful, as the association travels often to tournaments on the eastern part of the state. -AP

Eagles, Krauss honored at Boston music school The largest independent college of contemporary music in the world has awarded honorary degrees to the Eagles and Grammy Award-winning country singer Alison Krauss at a ceremony in Boston. The city’s Berklee College of Music also has honored influential Ethiopian musician Mulatu Astatke, an alumnus. The artists were honored during the school’s commencement ceremony Saturday. Students paid tribute to the artists with a concert featuring their music. More than 900 students from 58 countries graduated from Berklee this year. Eagles Glenn Frey, Don Henley, Joe Walsh and Timothy B. Schmit didn’t perform at the nonprofit school. -AP

Sarah Chalke, Brad Garrett comedy picked up by ABC “Scrubs” alumnus Sarah Chalke and “Everybody Loves Raymond” veteran Brad Garrett are coming to ABC. The network has picked up the single-camera comedy “How to Live With Your Parents for the Rest of Your Life,” starring Chalke and Garrett. The network is also going forward with the onehour dramas “666 Park Avenue” and “Last Resort.” “How to Live With Your Parents for the Rest of Your Life,” stars Chalke as Polly, a recently divorced single mom who moves in with her eccentric parents, played by Garrett and Elizabeth Perkins (“Weeds”). “666 Park Avenue,” from Warner Bros.

Television and Alloy Entertainment, is based on the Gabriella Pierce book. The series revolves around a young couple who manages one of the most historic apartment buildings in New York City - which happens to be the spot of supernatural occurrences that complicate and endanger the lives of the building’s occupants. Dave Annable, Vanessa Williams, Terry O’Quinn and Mercedes Masohn are among the stars of the series. “Last Resort,” meanwhile, revolves around the renegade crew of a nuclear submarine who go on the lam after being given a sketchy order to deploy their weapons. The crew then declare themselves the world’s smallest sovereign nation with nuclear capability. -Reuters

Court clears way for sale of Ira Gershwin letters A New York memorabilia dealer has settled a lawsuit that had sought to block him from selling 135 letters written by lyricist Ira Gershwin. The Daily News reports that the settlement between memorabilia dealer Gary Zimet and the daughter of Gershwin’s biographer was filed Friday in a Manhattan court. The biographer’s daughter, Carla Jablonski, had asked the court to block Zimet from selling the letters to the Library of Congress for $325,000. Jablonski said in her lawsuit that the letters must have been stolen from her apartment.

She hadn’t accused Zimet of the theft. Her father, Edward Jablonski, wrote several books on Gershwin including the 1958 biography “The Gershwin Years: George and Ira.” After he died, the family donated most of his Gershwin archive to the Library of Congress. -AP

MONDAY, MAY 14, 2012

Punk band arrest at heart of Russia church feud MOSCOW: The skinny dissident is thrown headfirst into a police van by camouflage-clad officers. Nearby, a dozen bearded men bearing Russian Orthodox crosses and wearing skull-and-crossbones T-shirts cheer on the cops. It’s the latest flare-up in a growing feud pitting supporters of the influential church, which sees itself as the nation’s spiritual guide, against opponents who say the church has sold out to Vladimir Putin - becoming an arm of his regime more interested in gold than souls.

Roman Dobrokhotov was on his way to Christ the Savior Cathedral, Russia’s biggest church, to protest against the arrest of members of female punk rock band Pussy Riot. They were jailed in early March for belting out an anti-Putin “punk prayer” in front of the church’s gilded altar wearing garishly colored balaclavas.

The church’s leader, Patriarch Kirill, cried blasphemy.

Critics claimed church-state collusion was keeping the women locked up.

Many say Putin, who returned to the presidency last week, has used the church as a potent tool in his command structure, allowing it to amass vast riches in return for unquestioning support of his policies and spiritual blessing for his leadership.

For more than a millennium, the church helped cement Russia’s identity and culture in times of foreign invasions and political upheaval - and that legacy remains strong in the hearts of millions of Russians.

But resentment slowly grew over the perception that church leaders were becoming Kremlin stooges.

Critics said slathering gold-leaf on church domes was ostentation shameful for a country suffering through the hard times of the Boris Yeltsin years. The church has acknowledged that it ran businesses dealing in alcohol, tobacco and oil, and operated jewelry stores and organic farms, to raise money for restoration of churches and monasteries and education of priests.

Suspicions grew further under Putin.

The church’s backing for the Kremlin became so fawning that it consecrated new nuclear missiles as “Russia’s guardian angels” and urged young Russians to volunteer for military service in Chechnya. Shortly before the Pussy Riot escapade, Kirill met with Putin and praised his two presidential terms as “God’s miracle.” In return, Putin said that “the state still owes much to the Church.”

The band said it performed its “punk prayer” inside the cathedral on Feb. 21 to protest Putin’s return to the Kremlin. They thrashed their heads and shouted: “Mother of God, Drive Putin Away!”

Three members were charged with hooliganism and face up to seven years in jail - severe even by the standards of a government notorious for crackdowns on dissent.

Protesters see Kirill’s influence in the harsh treatment. The

FILE - A supporter of a female Russian punk band holds a photo of a band while he and others picket the police headquarters in Moscow on March 8, 2012. (AFP)

bearded patriarch in a recent sermon described the punk performance as “devilish mockery” and part of a broader assault by “enemy forces” on the church.

The church maintains that desecration of icons and other acts of vandalism have become more frequent since the punk protest. As the patriarch led a procession around the cathedral, priests carried a crucifix and an icon that had been damaged in attacks elsewhere in Russia this spring.

Kirill himself is a focus of the growing opposition to the church.

Political analyst Stanislav Belkovsky said the church has turned into the Kremlin’s “Salvation Ministry,” obediently approving Kremlin policies and slamming Western democracy as concepts alien to Russian traditions - all the while enjoying hefty government donations and tax immunity.

“The Church inherited its full loyalty to the existing government from Soviet times,” Belkovsky said.

Despite the growing criticism over perceived sins past and present, there’s no questioning the church’s influence over Russian society.

Some believers applaud the Pussy Riot arrest.

“It’s very good that they were jailed, because otherwise some fanatics would simply tear them apart,” said Natalya Dolina, a 55-year-old historian and churchgoer from Moscow.

“They soiled a church; they fouled icons that are dear to many.

They are devoid of talent; they just latch onto a trend.”

But believers such as Lidya Moniava, who manages children’s hospices at a charity fund in Moscow, asked Kirill in a web-posted plea to forgive the pranksters and facilitate their release - and thousands joined her petition.

A Church spokesman said, however, that the Church will forgive the punk rockers only if they “repent and change their lives.”

Several Orthodox priests declined to be interviewed for this story, saying they feared reprimands or were not allowed contact with a non-Russian news agency.

Many non-religious Russians found the prank tactless, but were shocked by the arrest and possible punishment. “They should have gotten those girls out of the church - and left it at that,” said Lyudmila Alexeyeva, Russia’s most prominent human rights activist who considers herself non-practicing Orthodox. -AP

Bass player Donald ‘Duck’ Dunn dies in Tokyo TOKYO: Bass player and songwriter Donald “Duck” Dunn, a member of the Rock ‘n’ Roll Hall of Fame band Booker T. and the MGs and the Blues Brothers band, has died in Tokyo. He was 70.

Dunn was in Tokyo for a series of shows. News of his death was posted on the Facebook site of his friend and fellow musician Steve Cropper, who was on the same tour. Cropper said Dunn died in his sleep.

Miho Harasawa, a spokeswoman for Tokyo Blue Note, the last venue Dunn played, confirmed he died alone early Sunday. She had no further details.

Dunn, who was born in Memphis,Tennessee, in 1941, performed on recordings with Eric Clapton, Neil Young and many others, and specialized in blues, gospel and soul. He played himself in the 1980 hit movie “The Blues Brothers.”

He received a lifetime achievement Grammy award in 2007 for his work with Booker T. and the MGs. -AP

FILE - Soul rockers Booker T and the MGs are seen in this Jan. 1970 file photo, from left to right: Al Jackson, Jr., Booker T. Jones, Donald “Duck” Dunn, and Steve Cropper. (AP)

Kevin Spacey debuts South African short JOHANNESBURG: US actor and director Kevin Spacey said he sees opportunity for expanding film making in Africa, Asia and Europe.

Spacey spoke about his international outlook during a brief visit to South Africa Saturday for the premiere of a local short film he helped produce and in which he stars. With backing from a whiskey company, Spacey ran a contest to find talent from the United States, Russia and South Africa.

A script from each country was cho-

sen, and Spacey starred in and helped produce the three films, including South African Alan Shelley’s “A Spirit of a Denture,” which was given a red-carpet premiere in Johannesburg. The 26-yearold Cape Town writer-director’s movie is about a workaholic dentist who gets a visit from a pirate. Spacey recently starred in “Inseparable,” by Chinese-American director Dayyan Eng. In the movie, which was filmed in China, Spacey plays an American expat who befriends a Chinese man played by Chinese-American actor

Daniel Wu who is bogged down by work and marital problems.

“There is no doubt that as you start to look around the world, you start to look at the Asia-Pacific region, you start to look at what’s happening here, you look at what’s happening in European cinema, there’s a lot going on,” Spacey said in Johannesburg. Spacey, who is artistic director at London’s Old Vic Theatre, added: “I like the idea of going to as many places as possible and (having) as many experiences as you can.” -AP

Pope enjoys concert conducted by Muti at Vatican

Nashville, Red Widow other shows picked up by ABC “American Horror Story” star Connie Britton has a brandnew gig. Britton’s pilot “Nashville” has been picked up to series, along with the comedy “Red Van Man” and the drama “Red Widow.” The one-hour drama “Nashville” is a family soap set against the backdrop of the Nasville music scene. It follows one star at her peak and another star on the rise. Britton portrays Rayna. Hayden Panettiere and Powers Boothe also star. “Red Widow,” formerly known as “Penoza,” is a one-hour drama centering on the widow of an assassinated criminal who is forced to adopt her husband’s role in a crime syndicate in order to protect her family. Erin Moriarty stars as Natalie. “Red Van Man,” based on the British series “White Van Man,” centers on a man who is forced to put his dreams on hold in order to take over the family handyman business from his father. Edi Gagethi and Danielle Nicolet star. -Reuters

17

Riccardo Muti, left, conducts his orchestra during a concert offered

by Italian President Giorgio Napolitano to celebrate Pope Benedict XVI’s Pontificate at the Vatican, May 11, 2012. (AP)

VATICAN CITY: Maestro Riccardo Muti conducted a concert of selections of sacred music by Vivaldi and Verdi at the Vatican for an appreciative Pope Benedict XVI Friday in a celebration of the seventh anniversary of the pontiff’s election to the papacy. Italy’s president, Giorgio Napolitano, offered the concert in Benedict’s honor. The pope sat in an armchair in the center of the main aisle, with Napolitano and the president’s wife just behind him.

When the concert, with Muti conducting Rome’s Teatro dell’Opera, was finished, Benedict lavished praise on the Italian maestro, who kissed the pope’s hand. Benedict bestowed a red box with a symbol of the Great Cross of St. Gregory the Great, a high pontifical honor. Benedict praised Muti’s “intense interpretation” of Vivaldi and hailed both his ‘sensibility for sacred music” and his determination to make the genre more well-known.

Napolitano gave the pope a musical score of a solemn Mass from the early 19th century and a “valuable” violin, the Vatican said, without describing the instrument.

Benedict is known for playing classical music, especially by Mozart, on the piano, to relax.

Muti thanked Benedict for the compliments. Benedict, 85, has recently used a cane in public but on Friday walked steadily with no cane in sight. -AP

Oscar nod has no boost in India: Ashvin Kumar MUMBAI: Winning accolades at international film festivals and being nominated at the Oscars didn’t make it any easier for Ashvin Kumar to release his film in India. The 39-year-old filmmaker waited for six years to release his debut feature “The Forest”, and says being nominated for an Oscar (for his 2004 short film “Little Terrorist”) didn’t help. “It makes no difference. If it did, do you think I’d be running around arranging finances for my next film and trying to get this one released?” Kumar said.

“The Forest” has been ready since 2006, but the film-maker said its release was stuck for several reasons, including fallout with a producer.

The film, about a couple on a jungle holiday which goes horribly wrong, opens in cinemas under the PVR banner on Friday.

“It’s easier if you are backed by a big studio, that way you don’t have to worry about the money and can concentrate on making the film, but that doesn’t always happen,” Kumar told Reuters. “The Forest”, starring Nandana Sen and Jaaved Jafferi, is the film-maker’s way of bringing the sinister world of the forest into the urban moviegoer’s life. “A lot of urban dwellers aren’t as exposed to the forest as we were as kids. And I want them to know that it’s a beautiful place, but also a scary one, and you have to look after yourself there,” Kumar said. -Reuters

Batman, Spider-man, Iron Man guard Obama at fundraiser NEW YORK: At George Clooney’s celebritystudded fundraiser for President Barack Obama’s re-election campaign, the joke of the night was that the Secret Service was backed up by Batman, Spider-Man and the Iron Man - or at least the actors who played them.

Karen Blutcher, who won a lottery to attend the fundraiser after contributing $14, described the dinner on Thursday night as the opportunity of a lifetime. She also confessed to being starstruck by the presence of Hollywood royalty including Tobey Maguire, who played Spider-Man, and Iron Man’s Robert Downey Jr. Clooney played Batman in the 1997 film “Batman and Robin.” “I think amazing probably isn’t a strong enough word, but it was an amazing opportunity to meet George Clooney and Barack Obama on the same night,” said Blutcher, 45, who lives in St. Augustine, Florida, and works for a public utility company.

Blutcher, who wore a gold strapless dress for the occasion, described Clooney’s California mansion as “warm and cozy” and said the actor bantered with the president about basketball. It was Clooney who made the superheroes joke, as he and Obama gathered around Blutcher and her husband for a photo, she said.

Asked about Mitt Romney, the Republican who will face Obama in the November election, Blutcher declined to give her opinion, but described herself as an enthusiastic Obama supporter. -Reuters

18

ALWATAN DAILY

AROUND TOWN / TIME OUT

MONDAY, MAY 14, 2012

If you have an event you wish to include, please email: aroundtown@alwatandaily.com

Feature o f

graffiti

the day

moderately confused

Fasttelco announces raffle winner of Nissan 370Z sports car

KUWAIT: Fasttelco Telecommunication Company, the leading telecommunication service provider in Kuwait announced the name of the winner in the raffle draw for its promotion that ended April 29, 2012. The promotion actually allowed all customers who had subscribed, upgraded, or renewed their internet subscription the chance to enter this draw and win the grand prize of Nissan 370Z car.

The grand prize of a magnificent Nissan 370Z sports car was won by Ayman Abduljabbar.

“As we are constantly focused on keeping our customers satisfied, we work on providing them with the best offers and promotions available because customer satisfaction is incorporated into our strategic plan. Moreover, we strongly believe that our valued customers, whether new or existing, truly deserve the best,” stated Hamad Saleh AlSelmi, PR Manager at FASTtelco.

AlSelmi later included “This special promotion was especially organized by our company as a gesture of appreciation to all those who participated in this draw by submitting or renewing their internet subscription with Fasttelco. We

Month a t

also promise all our customers to offer them more valuable prizes in order to best fulfill all their needs and expectations. That being said, the key behind Fasttelco’s success lies in the fact that our company is continuously working on developing its services and improving its operational processes in order to keep our customers satisfied and happy.

As a result, our company today is considered as the leading internet and data communication service provider in Kuwait with its state of the art infrastructure and continuous dedication to provid-

ing innovative communication solutions to both the consumer and corporate markets” In the end, Fasttelco would like to congratulate all the lucky winners in this promotion, and invite everyone to subscribe to its internet services and benefit from the highest standards in internet and data communication industry and from more valuable prizes to come.

Once again, we would like to promise all our valued customers that we will constantly be introducing new offers and tailor-made promotions and giveaways throughout all seasons.

Sudoku

Elementary

Intermediate

Advanced

General A n n o u n c e m e n t s

a glance intersection between concept, design and the individual voice. Social activism campaigns to re-brand identity is the core essence of this year’s exhibition.

Diwaniya presentation May 15/ 7 p.m. / The AWARE Center: The AWARE Center cordially invites interested westerners to its special diwaniya presentation entitled, “My experience in Kuwait and the six sigma,” by Frank Serafini. Improvements in engineering and construction processes provide better oil refineries and hotel structures. But without improvements in business process then the new facilities would do little to improve customer satisfaction, employee loyalty, and shareholder revenue. Lean Six Sigma is a business process methodology that eliminates waste, improves speed, removes complexity, and reduces defects.

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

Zara Sa Jhoom Loon Main

Golden era club May 11 and 25/ 5 p.m. - 7 p.m. / Rumaithiya: Golden Era Club presents ‘The Eight Fold Path to Yoga’. Yoga here! Yoga there! Yoga everywhere! Yet, few comprehend Yoga’s true nature! Join Yoga Guru - Aacharya Shashikala Pushkarna - on this unique journey to the true ‘union’ between the mind, body and spirit. All seniors (60+) are cordially invited. Venue- House #34, next to Abu-Tammam Intermediate School for Boys, Sate Alhusari St., Block 2, Rumaithiya. For registration call 97172788/ 66208183 or drop a line to goldenera60@yahoo.com

May 18/ 7 p.m. / Maidan Hawally: Indian Cultural Society presents” Zara Sa Jhoom Loon Main” with renowned playback singer from Bollywood Abhijeet and world fame theater cum comedy king Umar Sharif from Pakistan. The Chief Guest for the event will be Ambassador of India, Kuwait. Also guest of honor will be prominent personalities from Kuwait and respected embassies from different countries. It will take place at Dr. Kamil Al Rayes Auditorium, AIS opposite Police Station. Contact numbers for your assistance and information: 97270386, 94450833.

Mario is a gentle and affectionate 6-years-young Spitz male. This friendly boy does great with people and dogs of all ages.

International bazaar

Kuwait Fashion Showcase May 14-16/ 9 a.m. - 10 p.m. / Crowne Plaza Hotel: The Kuwait Fashion Showcase (KFS), a premiere fashion, beauty and bridal exhibition of high end fashion labels from the Middle East, Europe and India. The KFS exhibition is different not only because it will bring together well-accomplished brands from international markets but also because the magnitude and influence of it will surpass all previously held exhibitions in its field.

May 26/ 10 a.m.-3 p.m. / TIES Center: Stop by and have the opportunity to see and even own some international antiques on display and taste the delicious foods on display. Also have your name inscribed in Arabic calligraphy at no cost and have a taste of our Arabic ice cream. Various items will be available for sale, such as pashmina shawls, accessories, jewelry, Mexican food, Indian food, cosmetics, cookies, handbags, traditional Kuwaiti - style dresses and many more. For more information please contact 2523105/6 or 97228860

Graphic Design exhibition

Waist Watchers

May 15-17/ 10 a.m. - 7 p.m. / AUK: The Art & Graphic Design Program (GDES) at AUK will be holding the official opening of the Spring Senior Capstone Exhibition. Under the supervision of Professor Maryam Hosseinnia, Assistant Professor of Graphic Design at AUK, students will be displaying their graduation projects that reflect their ability to visualize and process the complex

Every Tuesday/ 6 p.m. – 7 p.m. / British Ladies Society: Meetings are based on the world’s most successful healthy eating plan. Weekly meetings include private weigh in, motivational talks, recipes to try, and cooking demonstrations.

Fee of KD 2.500 is required to cover for the cost of course material. For more info contact; Danielle desertdanny@hotmail.com.

Dilbert

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.

Royal Thai Embassy The Royal Thai Embassy in Kuwait wishes to invite Kuwaiti companies that deal business with Thai companies or those agencies of Thai commercial companies to visit the Embassy’s Commercial Office to register their relevant information to be part of the embassy’s business and trade database. The Royal Thai Embassy is located in Jabriya, Block 6, Street 8, Villa No. 1, Telephone No. 25317530 -25317531, Ext: 14.

Nancy

Horoscopes Aries: March 21 - April 19

Contact with friends who live or work far away could bring in a string of new opportunities your way. You might also be thinking of taking a trip, perhaps to another country or by boat. An opportunity to attend a seminar of some kind will present itself, possibly through friends. A lot is happening, Aries, but try to stay focused and try not to get your mind too muddled.

Taurus: April 20 - May 20

New investment possibilities could present themselves to you today, Taurus. This could involve an investment of time, money, or other resources.

You’ll also consider an exciting new start of some sort. Don’t let yourself get so excited that you move ahead before you consider all the pros and cons. You might also want to consult a friend or your partner.

Gemini: May 21- June 21

An opportunity to travel with a partner or colleague could come your way, perhaps for business.

Any travel planned or begun today is likely to go well and bring you whatever results you hope for.

Whatever you’re planning, Gemini, it should excite your enthusiasm and optimism for future success.

Cancer: June 22 - July 22

News of a possible raise could come your way today, Cancer, through some enterprise that you’ve been working on. You’re feeling especially energetic, and therefore you could well be tempted to take on more than you usually would. Remember to pace yourself. If you’re just going to continue on your current path, you will need to save a lot of energy for tomorrow.

Leo: July 23 - August 22

A group might invite you to participate in a creative project of some kind today, Leo. Whatever you do is likely to be stimulating and exciting. You’ll want to channel a lot of energy and enthusiasm into it.

You could find yourself thinking in terms of a partnership, making plans to explore the possibility further. This is a great day for socializing. Enjoy!

Virgo: August 23 - September 22

You might be planning to host a social event in your home tonight or perhaps in a few days. It could have you doing a lot of cleaning, rearranging, and beautifying around the house. A friend might drop by to lend a hand. You might also plan an incredible menu. Don’t work too hard, Virgo, or you might not have any energy left!

Libra: September 23 - October 22

Today you might want to spend time visiting your friends in your neighborhood, Libra. Small purchases might be necessary, perhaps new clothes, objects that improve or add beauty to your home.

You might have to squeeze a few errands in between visits. At some point during the day expect a very welcome phone call from a friend you haven’t heard from in a long time.

Scorpio: October 23 - November 21

A chance to earn a small amount of money, by doing a little extra work at home, could come your way today, Scorpio. You’ll hear about it through a friend or colleague or a visitor might come to your home, perhaps to help with something that needs to be done.

This promises to be a very exciting day, with a lot of stimulation that’ll keep you occupied through the night.

Sagittarius: November 22 - December 21

Expect a lot of intellectual stimulation to come your way today, Sagittarius. Important news could come on the phone, necessitating action on your part in order to bring about a desired end.You might spend time in the car, contacting others in the neighborhood. Excitement of the moment will have you feeling especially optimistic.

Capricorn: December 22 - January 19

Your creative talents should be operating at an alltime high today, Capricorn. You might be offered an opportunity to earn money putting them to use. Your excitement and enthusiasm are likely to ensure that you’ll do your best and earn approval from those around you. Your intuition is also operating at high level, boosting your imagination and relations with others.

Aquarius: January 20 - February 18

Getting out and working with groups could seem especially appealing today, particularly groups involving athletics or other physical activities. This is an excellent day to go out for team sports or attend a yoga, aerobics, or tai chi class. You could also want to make a short trip out of town with some friends. A bit of adventure is definitely in the wind for you. Enjoy!

Pisces: February 19 - March 20

An exciting new project or opportunity could be presented to you today, Pisces. It could involve a new love or at least a new friend. Something you’ve been working on for a long time could finally come to fruition. It will stir your enthusiasm for moving on to the next project! What are you waiting for?

ALWATAN DAILY

SPORTS

MONDAY, may 14, 2012

19

TENNIS

Federer wins Madrid Serena humbles Azarenka Masters, takes number two spot to win Madrid Open title MADRID: A fired-up Serena Williams sent out a warning to the young pretenders of women’s tennis when she powered to a crushing 6-1, 6-3 victory over world number one Victoria Azarenka to win the Madrid Open on Sunday.

The 30-year-old former number one, seeded ninth at the premier clay event in the Spanish capital, extended her winning streak to 13 matches and looks to be coming into top form right on time for the French Open starting later this month.

With the sliding roof of the futuristic Magic Box arena open to the baking Madrid sun, Williams made the most of Azarenka’s error-strewn start on the blue dirt of the Manolo Santana show court to race into a 4-0 lead.

Swiss Roger Federer (left) holds his trophy next to US actor Will Smith after winning the final tennis match of the Madrid Masters against Czech Tomas Berdych, May 13, 2012.

(AFP)

After breaking the Belarussian’s serve for a third time to clinch the first set, Williams turned the screw with another break early in the second and clinched victory on her first match point when Azarenka, also runner-up last year, completely missed an attempted return.

It was the American’s second title of the year after her success on the clay at Charleston last month and her 41st singles crown overall, putting her in joint 13th on the all-time list with Belgian Kim Clijsters.

A 13-times grand slam singles champion who was last number one in October 2010,Williams is projected to rise to number six when the rankings are updated and said she had her eye on extending her

overall tally of 123 weeks at the top.

Serena beat her sister Venus in the French Open final in her sole triumph at Roland Garros in 2002 but has not been past the quarter-finals since 2004, leading to a perception she is less comfortable on the dirt than grass or hardcourt.

It was only Azarenka’s third defeat in a year in which the 22-year-old won her first grand slam singles title at the Australian Open, which lifted her to the top of the rankings, and has earned more than $4 million in prize money.

Williams clubbed 26 winners to Azarenka’s six and smashed down 14 aces, while her opponent did not manage a single one and offered up six double faults.

-Reuters

Basketball

MADRID: Roger Federer put his best fighting tennis on display to produce a 3-6, 7-5, 7-5 victory over Tomas Berdych on Sunday to capture a third Madrid Masters title and depose Rafael Nadal as world number two. The Swiss, with 16 Grand Slam titles, will now stand behind Novak Djokovic on Monday on the ATP list after sending Nadal back to third with his winning performance on the controversial blue clay laid down at the Caja Magica.

The 30-year-old went level with Nadal on 20 career titles at Masters 1000 level, with both men sharing the overall record. Federer, playing in his 104th ATP final, won his 74th title and fourth of the season.

He now stands 11-4 in head-to-head encounters with Berdych, who had beaten him in three of their five most recent matches.

But Federer was having no more of that scenario as he turned in victory in just over two and a half hours with a dozen aces, 44 winners and 30 unforced errors.

Berdych saved three match points in the final game before going down.

“We both played a nice match, but Roger showed why he’s the star,” said the Czech. “He was able to win in the conditions, it was well done.”

Berdych claimed the first set as he dominated with 14 winners and two unforced errors, only to quickly find himself on the other end of a Federer fightback in the second.

The Swiss third seed missed on a set point while serving at 5-3 to level, but stayed in the chase, finally taking the set 7-5 as Berdych double-faulted on set point. In the third, Federer rallied from 0-30 in his first three service games, then moved into position with a break for 5-3, which was finally achieved after Berdych saved three break points with consecutive aces but then sent over two double-faults in a row to give away the game Federer still could not close as he was broken in the next game, 5-4.

The Swiss hung tough through the next two games on serve before finally putting away the win on his fourth match point. -AFP

Lakers outlast Nuggets 96-87 in thrilling Game 7

Formula one

Maldonado wins Spanish GP thriller BARCELONA: Pastor Maldonado won a Spanish Grand Prix thriller on Sunday to take his first Formula One victory and hand former champions Williams their first triumph in 132 races and nearly eight years.

The celebrations at the Circuit de Catalunya were short-lived, however, with the team’s garage gutted by fire after the race and Venezuelan Maldonado carrying his 12-year-old cousin to safety in a smoke-filled pitlane. Team founder and principal Frank Williams, in a wheelchair, was pushed hurriedly from the garage to safety as thick, acrid smoke billowed over the paddock.

Nine people from three teams who had battled the flames were taken to the circuit medical centre, mostly suffering from smoke inhalation.

The first driver from his country to stand on the F1 podium, let alone win, Maldonado became the fifth different winner from five races this season won by five different teams - a phenomenon only ever seen before in 1983.

A 300-1 outsider before the weekend, Maldonado delivered Williams’ first win since Colombian Juan Pablo Montoya in Brazil in October 2004. The result was an astonishing transformation for a once-dominant team who scored just five points last year in their worst ever season.

The pole had fallen into his lap after Lewis Hamilton was sent to the back of the grid on Saturday because McLaren put too little fuel in his car for qualifying, and the former GP2 champion grabbed his chance with both hands.

Spain’s double champion Alonso finished second, 3.1 seconds behind, to move level with Red Bull’s

world champion Sebastian Vettel on points at the top of championship.

Finland’s 2007 champion Raikkonen was a disappointed third, taking the chequered flag 3.8 seconds behind Maldonado after just running out of laps in a spirited chase for a possible victory.

Vettel, who finished sixth, and Alonso each have 61 points, with Hamilton on 53. Red Bull lead the constructors’ standings with 109 points to McLaren’s 98 with Lotus third on 84.

It was the 114th win for Williams, nine times constructors’ champions whose last title was in 1997 with Canadian Jacques Villeneuve. It also came the day after Formula One gave Frank Williams a belated 70th birthday party.

The Circuit de Catalunya, the most predictable on the calendar until the arrival of moveable rear wings (DRS) and the Pirelli tyres, served up a cliffhanger.

Alonso seized the lead at the start to the delight of the home crowd but that was just the opening salvo in a long afternoon full of thrills and overtaking.

While Hamilton showed off all his talents by carving his way through the field from last place on the grid to eighth, the battle at the front was on a knife-edge right to the very end.

With 10 laps to go there was less than a second between Maldonado and Alonso while Raikkonen was taking huge chunks out of their lead lap by lap.

Maldonado’s team mate Bruno Senna was less fortunate than the Venezuelan victor, retiring on track after just 13 laps when Michael Schumacher ploughed his Mercedes into the back of the Williams in a shower of debris. -Reuters

Ty Lawson (3) of the Denver Nuggets lays the ball up in front of Kobe Bryant (24) of the Los Angeles Lakers in Game Seven of the Western Conference Quarterfinals in the 2012 NBA Playoffs, May 12, 2012. (AFP)

LOS ANGELES: Pau Gasol was consumed by determination, holding off Kenneth Faried with one arm and relentlessly tipping the ball at the hoop with the other in the fourth quarter of Game 7.

One, two, three, four - five! - offensive rebounds later, the ball finally surrendered and dropped through the hoop.

A few minutes later, the truth was as undeniable as that 7-foot Spaniard. Although the Nuggets drove them to the brink of playoff collapse, the Los Angeles Lakers still have the tenacity to win on the biggest nights of the postseason.

Gasol had 23 points, 17 rebounds, six assists and four blocked shots, Metta World Peace scored 15 points in his return from a seven-game suspension, and the Lakers outlasted Denver for a thrilling 96-87 victory Saturday night to win their first-round series.

The Lakers appeared to be in control of the series after a narrow victory in Game 4 last weekend, but the Nuggets rallied for two straight dominant victories. Game 7 was a barn-burner, with both teams blowing significant leads in

the final minutes as this stark clash of styles between the physical Lakers and the speedy Nuggets was resolved in the very last minutes.

World Peace hit four 3-pointers and energized Los Angeles with tough defense in his return. The former Ron Artest missed Los Angeles’ regular-season finale and the first six games against Denver for viciously elbowing Oklahoma City’s James Harden, the NBA’s Sixth Man of the Year and one of his probable defensive assignments in the next round.

With Gasol and World Peace taking the lead, Bryant didn’t dominate with scoring, but his playmaking out of doubleteams helped Blake hit five 3-pointers in a row before missing his sixth attempt. The journeyman guard is backing up Ramon Sessions, who managed just four points in the finale of his first career playoff series.

One possession after his five-rebound masterpiece, Gasol put the Lakers ahead for good with a tiebreaking tip-in with 6:30 to play, kicking off an 11-2 Lakers run. Afflalo’s 3-pointer cut the lead to 8984 with 1:09 to play, but Bryant hit a dra-

matic 3-pointer before Gasol hit two free throws with 31 seconds left, punctuating them with a sweeping punch of his fist.

The Lakers narrowly avoided becoming the ninth team to waste a 3-1 lead after losing two closeout games in the previous four days. Los Angeles had been 12-1 in closeout games since acquiring Gasol in 2008 before stumbling twice against the Nuggets, who led for almost every possession of the past two contests.

Gasol’s focus was obvious from the opening tip. The four-time All-Star had just three points and three rebounds in Game 6, but he played the finale with emotion and aggression, hustling for loose balls and rebounds while demonstratively celebrating baskets and playing to the crowd.

The Nuggets fell behind 62-46 midway through the third quarter, but erased the entire Lakers lead in a furious 6 1/2minute stretch led by Lawson, who scored 13 points in the period. Denver took a lead on the first shot of the fourth, but the Lakers never trailed after Blake’s 3-pointer with 9:03 left. -AP

Clippers advance with 82-72 win over Grizzlies

Ferrari Formula One driver Fernando Alonso (left) and Lotus F1 Formula One driver Kimi Raikkonen (right) lift up Williams Formula One driver Pastor Maldonado after the Spanish F1 Grand Prix, May 13, 2012.

(Reuters)

MEMPHIS: Kenyon Martin scored seven of his 11 points in the fourth quarter, and the Los Angeles Clippers advanced to the Western Conference semifinals with an 8272 win Sunday over the Memphis Grizzlies in Game 7.

The Clippers won only their third postseason series in 41 years and just their second since relocating to Los Angeles. They also avoided becoming the ninth NBA team to blow a 3-1 lead in a best-of-seven series. The Clippers move on to play the top-seeded Spurs starting Tuesday night in San Antonio.

Chris Paul scored 19 points despite playing with a strained right hip flexor. Nick Young added 13 off the bench as the Clippers finished off the series with their biggest margin of victory.

Rudy Gay and Marc Gasol each had 19 for Memphis.

Zach Randolph had a game-high 12 rebounds. A year ago, the Grizzlies lost a Game 7 at Oklahoma City in the second round of the playoffs.

The Clippers, who trailed 56-55 after three quarters, took control by opening the fourth with an 11-2 run started by a jumper by Martin. He tipped in a shot for a 66-58 lead with 8:41 left. Mo Williams matched the Clippers’ biggest lead to that point at 10 with a 3-pointer pushing it to 71-61 with 7:04 left in a 16-5 spurt to open the quarter.

Los Angeles finished off the win by hitting 9 of 10 free

throws in the final 3:26. The Clippers also managed to outrebound the Grizzlies 46-44.

The home-court advantage that didn’t help the Grizzlies when they blew a 27-point lead in Game 1 didn’t help again Sunday as they went cold from the floor. Gasol’s one-handed dunk with 3:09 left was Memphis’ last field goal down the stretch as the Grizzlies hit only 4 of 18 in the fourth quarter and finished the game missing all 13 3-pointers.

This series has been physical and grinding from the opening tip, and neither team backed down in a winnertake-all game.

The Clippers and Grizzlies scrapped and fought for every ball with each possession feeling like a knockdown, drag-out fight. Memphis should have had an advantage against the hobbled Clippers tipping off when they usually eat breakfast on the West Coast. Blake Griffin scored only eight points and looked tentative most of the game with a sprained left knee.

The Grizzlies managed to pull within 39-38 at halftime even though they kept struggling to find the basket. Mike Conley missed his first seven shots with his drought stretching to the free throw line where he missed his first attempt.

Conley didn’t hit his first bucket until a jumper in the early seconds of the third quarter. Conley finished with seven points on 2 of 13 shooting. - AP

MONDAY, may 14, 2012

Sports Editors Highlight

DOHA: Former Real Madrid striker Raul has joined Al Sadd of Qatar after leaving Schalke 04 at the end of his contract with the Bundesliga club, the Asian champions said on Saturday. The club did not give any further details but Spanish media reported that Raul, 34, had signed a one-year deal with Al Sadd, who finished third at the World Club Cup in December.The former Spain striker had been at Schalke for two seasons, scoring 28 Bundesliga goals in 66 matches. Last month when it was announced he would leave Schalke, Raul told reporters: “My future lies outside Europe in a league that is not so strong in playing terms as the Bundesliga.” Raul, whose international career ended in 2006, joined Schalke after he became surplus to requirements at Real Madrid, the club where he had been a talismanic figure. -Reuters

SPORTS

Football

City wins English title for 1st time in 44 years MANCHESTER: In the closing moments of the Premier League’s most dramatic season, Manchester City had just enough time for one final, breathtaking twist.

With the club’s title hopes fading by the second, its anguished fans in disbelief in the stands, relegation-threatened Queens Park Rangers clung to a one-goal lead after 90 minutes. City then threw all its attacking might forward to produce one of English soccer’s greatest comebacks.

Edin Dzeko and Sergio Aguero scored during injury time in a 3-2 victory that gave City its first league title since 1968. City finished ahead of crosstown rival Manchester United on goal difference.

After a season in which the title race shifted back and forth between the Manchester clubs, City appeared to have thrown it all away on the final day. It let 10-man QPR rally from a goal down to take the lead in the second half while United completed a 1-0 victory at Sunderland.

But Dzeko headed in a tying goal in the second minute of stoppage time to give City fans hope. Aguero then clinched the title when he slalomed through the QPR defense and blasted the ball into the net. Moments earlier, United completed its victory at Sunderland and was lingering on the field in northeast England, waiting for the final result of the City game and ready to start celebrating title No. 20.

Instead, a party 44 years in the making burst into life back in the blue half of Manchester as fans flooded the City field and exploded blue smoke canisters.

United had won 19 titles since City last won the English championship for just the second time in 1968. City has since had to climb back into the Premier League from the depths of the third tier in 1999. But it became a credible title challenger after a takeover by Abu Dhabi’s Sheikh

Mansour, who has invested more than $1 billion into the club over three years hoping to build a powerhouse.

City rose to the summit after overturning an eight-point lead United held five weeks ago. It was the first time the English title was decided in such tense circumstances since 1989. Arsenal and Liverpool had the same number of points and same goal difference, but Arsenal won the title on total goals.

QPR entered the game having lost six straight on the road and with the worst road record in the league. Yet City struggled to break down an opponent that had been facing relegation but survived in the top tier.

The QPR net was finally breached in the 39th minute when goalkeeper Paddy Kenny flapped at Pablo Zabaleta’s shot while on his knees and palmed the ball over himself into the net. A blunder by City then nearly led to them throwing away the title.

Joleon Lescott went to make a simple headed clearance.

Instead, he knocked the ball backward and Djibril Cisse seized on the defender’s mistake by driving a shot past Joe Hart.

City’s task seemed to be made easier when former player Joey Barton lost his cool and threw an elbow at Carlos Tevez as a cross came into the penalty area from Zabaleta.

The QPR captain was seething after receiving a red card and kneed Aguero as he left the field. Both sides had to placate the raging player, who was dragged to the sideline.

Despite City enjoying the man advantage, QPR went in front on a rare counterattack. Armand Traore was given space to go down the left flank. Hen then picked out unmarked Jamie Mackie in the penalty area and he sent a downward header past Hart in the 66th. -AP

Record-breaking Juve finish league season unbeaten

Juventus captain Alessandro Del Piero holds the Cup as his teammates and the entire team celebrate the victory of the Italian ‘scudetto’ after a Serie A soccer match, May 13, 2012.

(AP)

ITALY: Champions Juventus broke AC Milan’s record of 42 matches unbeaten and finished the league season undefeated with a 3-1 win over Atalanta on Sunday. It was also the perfect send-off after 19 years with the Old Lady for club captain Alessandro Del Piero, who took the armband for the final time in a Serie A game in Juve’s colours and netted his team’s second goal. Youngster Luca Marrone scored the opener and Andrea Barzagli netted a last-minute penalty as Juve finished the season with 84 points, four clear of last year’s champions Milan.

The only blips were a late own goal from Stephan Lichsteiner and an injury to centre-back Giorgio Chiellini that could put his Euro 2012 participation at risk.

The victory meant Juve took their unbeaten run in all competitions to 43 games, including the final match of last season, a record for an Italian team.

They also produced the first unbeaten Serie A campaign since Milan in 1992, and the first since Italy moved from an 18 to a 20-team league.

If they avoid defeat in next weekend’s Cup final they will become the first team to go an entire season unbeaten in league and cup, although they were helped by not playing in Europe. Their clash with Atalanta was little more than a glorified friendly.

It was over within a half hour as Marco Borriello’s back-heel set up Morrone to blast home from an angle on 10 minutes.

Juve were guilty of trying too hard to set up Del Piero and Simone Padoin wasted a chance when he tried to play in his captain rather than shoot. But Del Piero’s goal came on 28 minutes as he curled home

expertly from outside the area.

The game descended into near farce in the second period when coach Antonio Conte decided to substitute Del Piero so he could receive a rapturous ovation from the fans.

He got that but the sight of a league match being held up for at least a couple of minutes to affect a substitution while all his team-mates joined him in the centre-circle to salute him seemed like a scene from a testimonial match.

With the game ongoing, he then embarked on a lap of honour to salute the fans. Milan finished their season with a the perfect party scenario as 38-year-old Filippo Inzaghi scored the winner on his 300th and final appearance for the club before retiring in a 2-1 win over relegated Novara.

With popular stalwarts Inzaghi, Gennaro Gattuso and Alessandro Nesta all making their final bow in a Milan shirt, this match took time to come to life.

Gattuso captained the side but looked a shadow of his former self while the biggest cheer of the afternoon was reserved for Inzaghi’s entry from the bench.

Novara threatened to upset the party when Santiago Garcia found himself alone in the box to shoot home on 20 minutes. Milan hit back through Mathieu Flamini from inside the box after Antonio Cassano’s clever pass on 56 minutes. The rest of the match saw Milan desperately trying to set up Inzaghi to sign off with a goal, which duly came eight minutes from time, ensuring the party could start. It was Inzaghi’s 156th goal in Serie A and just to top things off, it was fellow veteran Clarence Seedorf who played the pass. -AFP

Ait-Fana takes Montpellier to brink of title PARIS: A dramatic injury-time goal from Karim Ait-Fana gave Montpellier a 1-0 win over Lille on Sunday that took the Ligue 1 leaders to within a point of their first ever French league title. Ait-Fana tucked home Olivier Giroud’s cut-back in the 94th minute at Stade de la Mosson to preserve Montpellier’s threepoint lead over second-placed Paris Saint-Germain, who beat Rennes 3-0 courtesy of a Nene hat-trick. On next Sunday’s final day, Montpellier will travel to Auxerre , who were relegated after a 3-0 loss at Marseille, needing a draw to finish above PSG, who visit Lorient.

Montpellier created the first chance of note against defending champions Lille, but Jamel Saihi lifted the ball over the bar from eight yards after being teed up

by Giroud. A floodlight failure meant that the second half began five minutes late, by which time PSG were already 1-0 up at home to Rennes. Lille goalkeeper Mickael Landreau produced a finger-tip save to touch over a Giroud header in the 53rd minute, while Eden

Hazard worked Geoffrey Jourdren in the other goal with a dipping free-kick. Montpellier’s lead had been cut to a point at full-time in PSG’s game but Ait-Fana’s last-gasp intervention took Girard’s side to within touching distance of the Ligue 1 trophy and sealed Lille’s elimination from the title race.

Jeremy Menez dragged a shot across goal and wide on the half hour at Parc des Princes and PSG had to wait for the 47th minute to take the lead, with Menez racing down the left and cutting the ball back for Nene to sweep home. The Brazilian’s second goal, a superb free-kick, arrived in the 58th minute and he completed his first ever Ligue 1 hat-trick seven minutes later with an emphatic penalty after Menez had been tripped by Rennes defender Jean-Armel Kana-Biyik.

The goal allowed Nene to draw level with Giroud on 21 goals at the top of the goalscoring charts, while PSG are now assured of direct qualification for next season’’s Champions League. -AFP

Carlos Tevez (right) of Manchester City celebrates as the shot from teammate Pablo Zabaleta beats goalkeeper Paddy Kenny of QPR for a goal during a Barclays Premier League match, May 13, 2012. (AFP)

Arsenal seal third place thanks to Fulop blunders LONDON: Arsenal sealed third place in the Premier League and a guaranteed spot in next season’s Champions League as a pair of blunders by goalkeeper Marton Fulop sealed a 3-2 victory at West Bromwich Albion on Sunday.

A mistake from Fulop, only in the side because of an injury to Ben Foster, allowed Yossi Benayoun to hand the Gunners an early lead but the Baggies responded with goals from Shane Long and Graham Dorrans.

Andre Santos’ strike shortly before half-time pulled Arsene Wenger’s side level and Laurent Koscielny capitalised on another Fulop error to earn the most slender of victories in a pulsating finalday encounter.

The win ensured Arsenal held onto third, a place and a point above north London rivals Tottenham, who now face a tense wait to see if Chelsea win next weekend’s Champions League final against Bayern Munich, which would rob Spurs of a spot in Europe’s elite club competition.

It was a disappointing end to a superb 16-month spell with the Baggies for boss Roy Hodgson, who expressed his gratitude to fans in his programme notes as he now turns his attention to leading England into Euro 2012.

There was no place in the Albion lineup for Foster in what was the final game of his loan spell from Birmingham after the goalkeeper picked up a suspected groin injury in training on Saturday. It meant a Baggies Premier League debut for understudy Fulop and his worst nightmares were realised within four minutes.

In an attempt to dispossess Robin van Persie, James Morrison stabbed the ball back towards his own goal, however Fulop’s attempts to usher it into his area ended in disaster as he stumbled to leave Benayoun with goal at his mercy.

Arsenal goalkeeper Wojciech Szczesny was more solid and did well to turn away a vicious low drive from Marc-Antoine Fortune which threatened to creep inside his near post away for a corner.

However, the Baggies only had to wait

until the 12th minute for their leveler.

Morrison dissected the Gunners defense with a threaded through pass and Long, who appeared to be left onside by Carl Jenkinson, strode through to steer a precise shot low into the left corner.

Morrison was responsible for another fine assist as Dorrans headed his Scotland team-mate’s clipped pass to his right to evade Jenkinson and Koscielny before planting a superb half-volley low beyond Szczesny.

Wenger struggled to hide his frustration on the touchline but the Gunners leveled on the half-hour mark.

Theo Walcott was introduced in place of Tomas Rosicky upon the resumption and within 10 minutes the Gunners were ahead again courtesy of another calamitous error from Fulop. Van Persie’s corner looked routine enough for the Baggies goalkeeper, yet he somehow managed to punch the ball behind him to allow Koscielny to scramble home the Gunners’ third - much to the frustration of his Albion team-mates. - AFP

Madrid break 100-point barrier, Villarreal relegated SPAIN: Champions Real Madrid beat Mallorca 4-1 on Sunday to break the 100point barrier on the final day of La Liga season as Villarreal sensationally slipped through the relegation trapdoor.

Mesut Ozil scored twice while Cristiano Ronaldo and Karim Benzema also hit the target as Jose Mourinho’s Real smashed Barcelona’s previous record of 99 points from the 2009-10 season.

The Santiago Bernabeu was given the first chance to celebrate Mourinho’s first Spanish title with ‘los blancos’ and resonated with a celebratory atmosphere to see skipper Iker Casillas lift the trophy after the match.

Mallorca needed a win to qualify for next season’s Europa League and battled hard against a Real side who claimed their 32nd Spanish title two games ago. Ronaldo headed home an 18th-minute opener and two minutes later Benzema finished off a swift passing move after receiving a Ronaldo pass to double the lead. Ozil produced a delightful chip for the third on 50 minutes before Chori Castro pulled one back for the side from the Balearics. German international Ozil added his second when he guided home a long cross from Marcelo eight minutes later. Jose Rondon scored the goal that beat Sporting Gijon 1-0 and guarantee Malaga their first ever qualification for the Champions League.

Defeat for Sporting means they drop into the second division after four successive seasons in the top flight. The Andalusian side started the stronger and Juan Pablo in the visitors’ goal had to make an acrobatic save from Eliseu on 17 minutes.

Then Rondon hit the post with a powerful header and with the game goalless at the interval Malaga’s dream was on hold.

However, it was Rondon who headed home a corner on 49 minutes to ease the nerves and send the packed Rosaleda crowd into celebration.

Algerian striker Abdelkader Ghezzal scored twice to help Levante to a 3-0 win over Athletic Bilbao and reward their magnificent season with a Europa League

place. He raced onto a long ball from centre-half Gustavo Cabral to lob over the advancing Bilbao goalkeeper Gorka Iraizoz on the stroke of half-time for his first. Jose Barkero supplied him for the second and Francisco Farinos got a last minute penalty to send Levante into European competition for the first time.

At the bottom, Villarreal were relegated along with Sporting in a dramatic 90 minutes in which any two of five teams were facing the drop.

Villarreal lost 1-0 at home to Atletico Madrid for whom Gustavo Falcao scored with two minutes remaining to condemn last season’s Europa League semi-finalists to the second-tier for the first time since 1998-99. Marco Ruben and Marcos Senna went close from distance in a first-half in which the team battling relegation were the stronger.

All seemed under control until Falcao headed home and almost immediately a goal from Raul Tamudo for Rayo Vallecano at home to Granada turned things

around completely. Until that stage, Rayo Vallecano were in the relegation zone and 60 seconds from the drop.

Veteran striker Tamudo came off the bench to prod home a header from close range to send Villarreal to the second division and save the tiny club from the south of Madrid. Antonio Galdeano ‘Apono’ and Hector Postiga gave Zaragoza the 2-0 win they needed at eight-man Getafe and finish a miraculous end of season in which they won eight out of the last 11 games to guarantee safety.

The home side had Pablo Sarabia sentoff for two yellow cards within seconds for protesting on 25 minutes.

Zaragoza also had cause to complain when the referee denied them a penalty when it seemed Postiga had been wrestled to the ground just before the interval.

Zaragoza lost a man late on when substitute Tomislav Dujmovic was dismissed before Miku left the home side with eight players and Postiga scored a last minute second to seal their survival. -AFP

Real Madrid’s French forward Karim Benzema (left) vies with Mallorca’s Israeli goalkeeper Dudu Aouate during the Spanish league football match Real Madrid vs Mallorca, May 13, 2012. (AFP)