May 2, 2012 by Al Watan Daily

WEDNESDAY, MAY 2, 2012

@alwatandaily

Issue No. 1422

20 PAGES

www.alwatandaily.com

150 Fils with IHT

Pay raise for Kuwaiti private sector employees

Increases range between KD 50 to KD 330 based on qualification Mohammed Al-Salman, Mohammed Al-Khaldi, Osama Al-Qatari and Ahmed Al-Shemmari Staff Writers

KUWAIT: The Civil Service Council on Tuesday approved pay raises for Kuwaitis working in the private sector. The increases will range from 50 to 330 Kuwaiti dinars depending on the employees’ education qualifications, and will be added to the financial support provided by the government for this segment on a monthly basis. University degree holders specializing in medicine, pharmacology and engineering will receive an increase of KD 330, while those who majored in law, Accounting, Information Systems, Statistics, Economy, Nursing and Education will have a pay raise of KD 280, while individuals with other specializations will receive KD 230. An additional KD 150 will be added for PhD degree holders and KD 75 for those with Masters. Post secondary Diploma holders will receive an increase of KD 190, whereas secondary and post-intermediate certificate holders will get a pay raise of KD 140. Intermediate certificate holders will have an increase of KD 100, while

the unqualified individuals will get a pay raise of KD 50. In other news, the National Assembly Speaker Ahmad Al-Saadoun on Tuesday met with the Head of the State Audit Bureau Abdul-Aziz Al-Adsani and discussed a request by a parliamentary investigatory panel to give his testimony. It has been gathered that the meeting has diffused the crisis that was prompted by Al-Adsani’s failure to honor an earlier intention to testify. Reportedly, the latter deplored MPs’ “provocative” comments and a hint by MP Musallam Al-Barrak to remove Al-Adsani from his post, which is inconsistent with the Audit Bureau Law regarding the procedures of appointing and dismissing the bureau’s head. The two officials deliberated over the mandate of parliamentary investigatory panels and the nature of issues that can be delved into as well as the mechanism of inviting witnesses to their meetings. The speaker is said to have affirmed the need for compliance with the spirit of the Constitution and the Standing Order without offending the invitees, and that he expressed understanding for Al-Adsani’s position. Earlier, MPs Musallam Al-Barrak and Faisal Al-Mislem regarded the failure of the Audit Bu-

Legislative Committee approves amendments on strict blasphemy law

reau Chairman to show up in the panel’s meeting as serious contempt of the National Assembly. AlBarrak, who chairs the Parliament’s Public Funds Committee, went as far as urging the dismissal of Al-Adsani should he fail to attend the planned meeting. Commenting on this issue, MP Nabeel AlFadhl remarked that Al-Barrak and Al-Mislem’s comments are a blatant acknowledgement that they have usurped the speaker’s decisions. The MP added, “Neither the two unconstitutional panels nor Al-Mislem or Al-Barrak can remove the head of the State Audit Bureau.” Al-Fadhl further chastised the two MPs, saying that their threat to remove Al-Adsani is void of morality and wisdom and they should not speak in the name of Parliament. A source within the Minority Bloc revealed that the bloc will resist any request for Al-Adsani to attend the panel’s meeting, noting that the latter has nothing to do with the issues under investigation. Wading into the fray, constitutional expert and law professor Dr. Mohammad Al-Muqate’ affirmed that there are certain restrictions on the issues that can be probed by parliamentary invesCONTINUED ON PAGE 2 tigatory panels.

Palestinians see backlash if hunger strikers die

Michael A. Kolarov

Staff Writer and Agencies

CMA cancels delisting decision of Wataniya Airways from bourse

Compiled by Al Watan Daily

Junta takes camp in Mali capital, claims control

Soldiers loyal to Captain Amadou Haya Sanogo sit on an armored vehicle at the Patrice Lumouda roundabout, in Bamako on May 1, 2012. (AFP)

Suicide bomber kills MPs in central Somalia

MOGADISHU: A suicide bomber killed three Somali lawmakers on Tuesday at a hotel in the central town of Dusamareb, where legislators visiting from the capital were meeting, local authorities said. Al-Qaeda-linked Al-Shabaab rebels claimed responsibility for the attack, and also for a car bomb in the heart of the capital Mogadishu on Tuesday that killed one man. While suicide bombers sent by Al-Shabaab militants have struck government targets and African Union troops in the capital Mogadishu often in recent years, such attacks are rare in central Galgadud region. The delegation of lawmakers was in Dusamareb to discuss how to form local administrations in the central region of Galgadud, as part of political reforms meant to bring a string of transition governments to an end with elections in August. Member of parliament Dahir Amin Gesow told Reuters he was in the hotel cafe when the bomber walked in blew himself up. He said several people were killed, including some lawmakers. The spokesman for the pro-government militia which controls Dusamareb, the capital of Galgadud, said the total death toll from the blast was four. More on 4

BAMAKO: After fierce fighting in Mali’s capital Tuesday, troops loyal to the junta overran the main camp of the soldiers who tried to oust them in a countercoup. Gunfire echoed across Bamako as Malian government troops battled each other, killing at least 12 people. Mali’s coup leaders who took power over a month ago and ostensibly handed control over to an interim civilian government on April 12, said they control the state broadcaster, the airport and a military base, fending off attacks by opposing forces. Coup leader Capt. Amadou Sanogo told a private radio station Monday night that the countercoup had failed and that his soldiers have captured foreign fighters. A senior Western diplomat based in Bamako told The Associated Press that the fighting apparently started Monday when forces loyal to the junta tried to arrest the former head of the presidential guard. The presidential guard is part of Mali’s parachutist regiment, known as the Red Berets, part of the faction that was seen as the most reluctant to submit to the authority of the junta. The regiment was the most loyal to exPresident Amadou Toumani Toure when he was See also 5 in power.

Europeans protest austerity at May Day rallies

Protesters hold signs which read, “No to cuts” during a May Day demonstration on Labor Day in central Madrid May 1, 2012. (Reuters)

ATHENS: Workers across southern Europe protested against spending cuts in May Day rallies on Tuesday, before weekend elections in Greece and France where voters are expected to punish leaders for austerity. Unions in Spain, Portugal, Italy, France and Greece used the traditional marches to express anger over a savings drive across the euro zone, aimed at shoring up public finances but criticized for forcing countries deeper into recession. Italian demonstrators briefly clashed with police in riot gear in Turin and thousands marched in the central city of Rieti to listen to the leaders of the country’s three main unions denounce Prime Minister Mario Monti’s reforms. French trade unions organized about 290 demonstrations from Marseille in the south to Strasbourg in the east. In Paris, police said 48,000 people turned out, up from 12,000 last year. President Nicolas Sarkozy attracted almost 100,000 to a rival rally for “real workers” after the largest union, the CGT advised its members to vote him out of power on Sunday, the first time a union has openly urged a vote against a candidate.

In Madrid, tens of thousands headed in the rain to the main square waving signs opposing cuts, while thousands turned out in Lisbon. In Athens around 5,000 workers, pensioners and students marched with banners reading “Revolt now” and “Tax the rich”. Greece will vote on Sunday in a parliamentary election that risks derailing the international bailout keeping the country afloat by punishing the parties that backed the package. “Our message will be stronger on Sunday,” said Maria Drakaki, 45, a public sector worker whose salary has been cut. “There’s no way I’m voting for one of the two main parties.” In France, Sarkozy addressed a rally near the Eiffel Tower with a message to unite and work harder to pull France out of the financial crisis. French voters seem poised to chose policies favoring economic growth over austerity with Socialist Francois Hollande leading Sarkozy in the polls. Far-right leader Marine Le Pen, whose supporters are key for the result, told her party’s annual rally on Tuesday she would cast a blank vote. -Reuters

Clinton heads to China as dissident case looms

After 50 years, Cubans hope to travel freely

HAVANA: After controlling its citizens comings and goings for five decades, Cuba appears on the verge of a momentous decision to end many travel restrictions, with one senior official saying a “radical and profound” change is weeks away. That comment, by Parliament Chief Ricardo Alarcon, has residents, exiles and policymakers abuzz with speculation that the much-hated exit visa could be a thing of the past, even if Raul Castro’s government still carefully limits the travel of doctors, scientists, military personnel and others in sensitive roles. Other top Cuban officials have cautioned against over-excitement, most recently at a weekend teleconference designed to bridge the gap with Cuban emigrants, leaving islanders and Cuba experts to wonder how far Havana’s aging leaders are willing to go. In the last 18 months, Castro has already removed prohibitions on some private enterprise, legalized real estate and car sales, and allowed compatriots to hire employees, ideas that were

long anathema to the government’s Marxist underpinnings. But scrapping travel controls could be an even bigger step, at least symbolically, and it carries enormous economic, social and political risk. Even half measures such as cutting staggeringly high visa fees or ending limits on how long Cubans can live abroad would be significant. “It would be a big step forward,” said Philip Peters, a Cuba expert at the Virginia-based Lexington Institute. “If Cuba ends the restrictions on its own citizens’ travel, that means the only travel restrictions that would remain in place would be those the United States imposes on its citizens.” The move would open the door to increased emigration, and make it easier for those overseas to avoid forfeiting their residency rights, a fate that has befallen waves of exiles since the 1959 revolution. It could also bolster the number of Cubans who travel abroad for work, increasing remittances in the short term and investment by a new moneyed class in the long. -AP

Blood test could detect breast cancer risk

LONDON: The possibility of developing a simple blood test to help identify women most at risk from breast cancer has been raised after researchers discovered a strong association between risk of the disease and a molecular change in a particular white blood cell gene according to The Guardian. Scientists funded by the Breast Cancer Campaign analyzed blood samples from 1,380 women of various ages, 640 of whom went on to develop breast cancer. They found a strong association between molecular modification of a white blood cell gene called ATM and breast cancer risk. The scientists looked for evidence of a chemical effect called methylation, which “switches” genes on and off. Women showing the highest methylation levels affecting the ATM gene were twice as likely to develop breast cancer as those with the lowest levels. On average, the blood tests were carried out three years before diagnosis. In some

cases they pre-dated the discovery of breast cancer by up to 11 years. The results were especially clear in blood samples from women under the age of 60. Methylation is an “epigenetic” mechanism that allows genes to be affected by exposure to environmental factors such as hormones, radiation, alcohol, smoking or pollution. Increasingly, epigenetic effects are being seen as important drivers of cancer. Dr James Flanagan, of Imperial College London, who led the new research, said: “We know that genetic variation contributes to a person’s risk of disease. “With this new study we can now also say that epigenetic variation, or differences in how genes are modified, also has a role. “We hope that this research is just the beginning of our understanding about the epigenetic component of breast cancer risk and in the coming years we hope to find many more examples of genes that contribute to a More on 15 person’s risk.

An Occupy Wall Street movement activist is arrested by police during a march through Manhattan, New York May 1, 2012. (Reuters)

ALWATAN DAILY

kuwait

wednesDAY, may 2, 2012

Kuwait urges Iraq to continue paying war compensations FM says Iraq’s visit ‘important step’ in bilateral ties

CAPITALS: Kuwait stressed, on Tuesday, the need for continuation of regular deposits in the Compensation Fund, as provided for in UN Security Council Resolution 1956 (2010), of five percent of the proceeds from all export sales of petroleum, petroleum products and natural gas of Iraq; as well as five percent of the value of any non-monetary payments of petroleum, petroleum products and natural gas, said Chairman of the Public Authority for Assessment of Compensation for Damages Resulting from the Iraqi Aggression. Khaled Al-Mudhaf, who was addressing the 73rd session of the Governing Council of the United Nations Compensation Commission, thanked the Governing Council and the UNCC Secretariat for the distribution, on Oct. 27, 2011, Jan. 26, 2012 and April 26, 2012, of compensation amounts to Kuwait in accordance with Decision 267, noting that the Gulf State was looking forward to continuing to receive future installments of quarterly payments of the outstanding balance awarded to Kuwait by the Council. Moreover, he thanked Iraq for continuing with the previously established mechanism for the transfers, under oversight of international external auditors who will ensure that Iraq continues to meet its obligations as established in the provisions of paragraph 21 of resolution 1483 (2003), and “we also note that the UNCC and COFE are meeting on a regular basis and we welcome their cooperation.” Elaborating, he said the balance of the award sums remaining to be paid to Kuwait from the Compensation Fund stands at about 16 billion US dollars. “From the outset when it was agreed in 2008 that Iraq and Kuwait would meet under the auspices of the United Nations Compensation Commission, to discuss the issue of the outstanding awards of Kuwait, the Government of the State of Kuwait has remained committed to the process. However, despite

Deputy Premier and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah (left) with the Iraqi counterpart Tarek Aziz during their meeting held on Monday, April 30, 2012. (KUNA)

the efforts of the UNCC, since the first meeting that took place in May 2009 in Amman, no other meeting has been held to further discuss this issue or the proposal that Kuwait put forward as an option,” he stated. Kuwait again renews its commitment and readiness to discuss the issue of the remaining compensation owed to Kuwait through this mechanism and under the auspices of the UNCC and awaits confirmation of the Government of Iraq’s favorable response in this regard. In the meantime, “we would like to recall that guaranteeing the outstanding amount paid to Kuwait is indeed a responsibility of the Governing Council under its original mandate. Therefore, the UNCC should not relent in its efforts until the full amount is paid. “Alongside your mandate over the out-

standing compensation payments is your mandate over the Follow-up Program for environmental claims awards, as established under Decision 258. Several issues arise in that regard, especially in connection with the establishment, by the State of Kuwait, of the systems and controls identified in Decision 269,” Al-Mudhaf added. In related news, Kuwait Deputy Premier and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah said Monday his justconcluded visit to Iraq was “an important step” that would serve bilateral relations and region as a whole. Sheikh Sabah, also Minister of state for Cabinet Affairs, said he signed, last night, the minute of the Kuwait-Iraq commission meeting which paved way for ironing out outstanding issues. In an open discussion at the conclusion

Pay raise for Kuwaiti private sector employees CONTINUED FROM PAGE 1

He explained that the legislative authority has no right to interfere in anything that is beyond its jurisdiction, adding that a parliamentary investigation should not also look like the ones run by judicial authorities. “Demanding financial data from the government should be related to a specific operation...and privacy and banking confidentiality should be upheld by investigation panels,” the law pundit elaborated. In a related development, the head of the panel probing alleged illicit financial transfers abroad, Dr. Faisal Al-Mislem, announced that the committee extended an invitation to His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah to attend its meeting next Saturday to give his testimony on the matter. Moreover, MP Mohammad Al-Juwaihel asserted that he will respond to the clarifications he had received from the Minister of Interior Sheikh Ahmad AlHumoud Al-Sabah with regard to his interpellation. He added that the response will be delivered through the press before he reaches his office.

The MP claimed that the Ministry of Interior is engaged in flagrant violation of the laws, saying that Shiites who travel to Iraq are made to sign documents absolving the ministry of responsibility for anything that may befall the travelers inside Iraq, adding that this is inconsistent with the Amiri injunction in the Kuwaiti passport. The MP elaborated that the Constitution has guaranteed freedom of movement for Kuwaitis and that the minister should reverse his decision. On the other hand, MP Nayef Al-Merdas called on the government to make use of the time given to it by the Majority Bloc concerning the dismissal of the Minister of Finance Mustafa Al-Shamali. Stressing that the interpellation of Al-Shamali is deserved, the lawmaker stated that the motion will be filed in less than ten days. “The Majority Bloc has been demanding the dismissal of the minister throughout the past period to no avail,” the MP lamented. Also, MP Mohammad Hayef urged the top officials of the Ministry of Interior to keep an eye on suspected rented flats as well as cafes, while threatening to expose certain corrupt officials in the ministry.

MP Al-Fadhl says that MP Al-Tabtabaie violates laws for personal gains Staff Writer

KUWAIT: The Member of Parliament (MP) Nabeel Al-Fadhl said in a statement on Tuesday that the information he disclosed on the wife and son of the MP Dr. Waleed Al-Tabtabaie is correct. He revealed before reporters documents that include a report on secretaries’ performance during Parliamentary sessions of 2011. The very document was signed on Dec. 14, 2011 after dissolving the former National Assembly. The document states the performance of the MP`s wife, where she received 100 percent for assessment. Al-Fadhl gave an example of former Egyptian presidents who would forge elections to receive 99 percent of votes, yet the lawmaker’s wife was able to receive 100. Al-Fadhl defied Al-Tabtabaie to deny or

FILE - MP Nabeel Al-Fadhl speaking during a National Assembly session on April 26, 2012. (Al Watan)

prove such allegations. Al-Fadhl emphasized that he is willing to resign from Parliament if the information he disclosed was false, indicating that Al-Tabtabaie has already accused him of fabricating certain stories. “Al-Tabtabaie can also submit any official document which he can get from Civil Service Commission (CSC) to prove that he did not violate laws,” added Al-Fadhl. Al-Fadhl said that he will ask the Minister of Housing to return the money that was paid to AlTabtabaie’s son for salary as he was absent during his entire time of employment. The lawmaker added that the very son was appointed at CSC with a monthly salary of 1,626 Kuwaiti dinars, but also never attended, hence his termination. He was then reappointed at the Ministry of Housing with a monthly salary of KD 715, but again failed to commit to his job.

of the 9th Arab Media Forum, Sheikh Sabah said there was a clear understanding between Kuwait and Iraq over all issues discussed during the commission’s meetings. He said His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah would visit Iraq during the fourth quarter this year. Iraqi premier Nouri Al-Maliki had paid a visit to Kuwait recently. Sheikh Sabah said the border signs between Kuwait and Iraq were installed and fixed “and only need maintenance and removal of some overlapping,” and the Iraqi government pledged to finish this job before next October, and $600,000 were transferred for the UN for the maintenance works. Sheikh Sabah said the Iraqi ministry of human rights vowed to search for remains of Kuwaiti prisoners and missing in Iraq, as well as searching for Kuwaiti archive miss-

ing during the Iraqi occupation of Kuwait in 1990-91. The top diplomat asserted that Kuwait played a big role to help Iraq regain its leading role in the Arab world, citing His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah’s attendance of the Arab summit that was held last month in Baghdad. The visit of the Amir to Iraq “has drawn the first step that we follow in our recent meetings in Baghdad,” he said. During his visit to Baghdad, he said, the Kuwaiti delegation assured the Iraqis that Mubarak Al-Kabeer port would be environmentally safe and would not harm Iraq’s interests. On Syria, the Kuwaiti foreign minister said the Arab foreign ministers held 14 meetings over the past 16 months to discuss a host of crucial matters including the Syrian crisis. The Arab foreign ministers assigned Morocco as the only Arab member in the UN Security Council (UNSC) to convey the concern of Arabs over the violence in Syria. On memberships of Jordan and Morocco in the Gulf Cooperation Council (GCC), Sheikh Sabah Al-Khaled said the GCC decided to have long-term strategic partnerships with both countries, through which the Arab Gulf bloc would offer financial assistance to development programs. Sheikh Sabah Al-Khaled said, on the other hand, that Kuwait has always been backing the Palestinian cause. he called on the Palestinians to unify their ranks and implement the conciliation agreement. The foreign minister called on Iraq to respect their neighbors for the sake of regional stability. He recalled that the GCC condemned Iranian President Mahmoud Ahmadinejad’s recent visit to the UAE’s Abu Moussa island, one of three isles occupied by the Islamic Republic since 1971. He said the GCC called upon Iran to solve this issue either through direct negotiations with the UAE or international arbitration. Sheikh Sabah said the GCC formed a committee to study a proposal by Saudi King Abdullah to transform the GCC into a confederation. The committee will submit its report to the GCC leaders next month. -KUNA

Amiri decree of denationalization shows discrepancy: MP Al-Turaiji Staff Writer

KUWAIT: Member of Parliament (MP) Abdullah Al-Turaiji expressed in a statement on Tuesday his deepest gratitude and thanks to His Highness the Amir Sheikh Sabah Al-Ahmad AlSabah and First Deputy Prime Minister and Minister of Interior following the approval of revoking the naturalization of an Iraqi officer. The MP added that the information in which he obtained earlier reveal that the Iraqi officer was indeed in Kuwait prior to the Iraqi invasion in 1990 and had been corresponding with the Iraqi commands. The MP called on the Minister of Interior to explain how it was possible that the Iraqi officer was granted the Kuwaiti

citizenship, adding that he should reveal those who were behind endorsing the application of naturalization for this officer. “The Amiri decree to revoke the naturalization of the Iraqi officer clearly shows that there are serious discrepancies in the way that naturalization dossier is handled. We have repeatedly demanded that this particular issue of naturalization should be dealt with carefully and with utmost care due to the sensitivity of the issue in terms of demography of the country,” he remarked. The MP demanded a proper and close scrutiny of the applications submitted for naturalization as some of the applicants have “suspiciously acquired the Kuwaiti nationality”. As for the Iranian laborers in the

country, MP Al-Turaiji said that he was astonished at the number of Iranians working in the country, adding at the same time that he found out that many of the Iranians hold residency 20 which means that they are either drivers or domestic helpers. The MP said that the Iranian nationality was never employed as drivers or domestic helpers. “Moreover, some of them are actually self-sponsored which is yet another bizarre aspect in this particular issue,” he added. The MP justified his inquiry on the Iranian labor issue saying that it could be related to the Iranian spy ring arrested by the security apparatus. The MP concluded b saying that the interior ministry needs to scrutinize the Iranian file carefully.

Jaber hospital to be completed on schedule: Nadoum Mervat Abduldayem Staff Writer

KUWAIT: Project Manager of Jaber Hospital Engineer Ali Nadoum said that construction work is progressing well at the different stages of the project, indicating that the first and second floors are currently under construction. He said that other sub-buildings of the hospital, which include the disease diagnosis building, will be completed soon. Nadoum said that four floors in the building of casualties were completed, adding that 60 percent of the car parking lot is also completed as well as 50 percent of the dentistry building. The director affirmed that hard efforts are exerted to complete the project on time given that all involved parties in the project contribute in carrying it out well to overcome all obstacles. He added that the working hours will be increased to avoid any delay. He also extolled the support and interest of officials of the Ministry of Public Works and the employees and workers. Nadoum disclosed that the project is considered to be the largest medical area in the Middle East, where such project shows the great interest of the government in the field of health services for both Kuwaiti citizens and expatriates. Moreover, the contract of the project was signed on Nov. 15, 2009 and the ex-

FILE- Construction works at Jaber Hospital. (Al Watan)

ecution started a month after. The Jaber Hospital is expected to be completed by Dec. 14, 2013. The cost of the project is estimated to be around 303.9 million Kuwaiti dinars. It is currently being built on a large area

estimated to be 224,000 square meters. The project will provide 1,168 beds as well as 5,000 car parking spaces.Project Manager Engineer Ali Nadoum speaking to the press on Tuesday, March 1, 2012. (KUNA)

ALWATAN DAILY

KUWAIT

wednesdAY, may 2, 2012

Legislative Committee approves amendments on strict blasphemy law Michael A. Kolarov

Staff Writer and Agencies

KUWAIT: The Parliamentary Legal and Legislative Affairs Committee completed discussing on Tuesday the proposals and remarks made by the lawmakers regarding the amendment of the Penal Code in order to introduce tougher penalties against blasphemers of God and Prophet Mohammad (PBUH). The committee decided to refer the supplementary report to the Parliament’s extraordinary session on Thursday. The Committee Rapporteur MP Mohammad Al-Dallal told reporters that the committee had listened to the Ministry of Justice’s standpoint on the issue, as well as the religious edict provided by the Ministry of Awqaf and Islamic Affairs in relation to blasphemy. Meanwhile, the lawmaker stated that the committee has finalized the drafting of Fatwa (Religious Edict) and Legislation Law so that the institution can be transformed into a judicial authority. The MP expressed hope that the legislation will go a long way in the development of the Fatwa and Legislation Department. Al-Dallal also noted that discussions took place concerning the remarks made by the former committee member Ali Al-Rashed who accused the committee of bias. The MP lamented the remarks attributed Al-Rashed, saying that the latter should have raised his concerns within the committee. He was however quick to note that the MP’s resignation from the committee is his personal business. Al-Dallal stressed that the committee has been always eager to avoid the personal differences of its members to interfere with the committee’s activities, as he expressed shock at Al-Rashed’s critical comments about the committee. It could be recalled that Al-Rashed announced his resignation from the committee citing its “bias.” He assertively noted that politics should not be involved Blasphemy is presently punishable under the 1961 Press and Publications law by fines and imprisonment. However, punishments for violations have even included the revoking of citizenship. The recent draft law has past its first round of voting in the Parliament, which calls for blasphemers to be handed the death penalty. If the law is imposed, Kuwait will become the third nation in the world to impose the death penalty on blasphemy, alongside Saudi Arabia and Pakistan. The events, which lead up to this draft law, began in September 2010, when Yasser AlHabib angered the Sunni Muslims by insulting one of the Prophet Muhammad’s wives, causing Kuwait to revoke his citizenship and accusing him of trying to stir up discord among Muslims. In April, Sunni tweeter Mohammad AlMulaifi was jailed for seven years and fined for insulting the faith of the Shiite minority back in February of 2012. Most recently was the

FILE - Screen shot shows Twitter’s sign in page. The Legislative Committee approved on Tuesday the amendments made to the blasphemy law on anyone who insults the Prophet Mohammad or his companions, after an earlier case where a citizen allegedly tweeted remarks considered blasphemous to Islam.

case which prompted Parliament to draft the amendment, the case of Hamad Al-Naqi, who allegedly tweeted remarks considered blasphemous to Islam. Al-Naqi was arrested on March 27th, 2012 for allegedly insulting the Prophet Mohammad via his Twitter account. This cannot be independently confirmed as the comments have been removed from Twitter. The Parliament then decided that it will review amendments to be made to the penal code on April 10, calling for death penalty for those who insult the Prophet Mohammed or his wives, amidst heated sectarian exchanges between radical MPs. MP Ahmed Lari was quoted saying that “the proposed amendments fail to explain what constitutes blasphemy, and Muslim scholars widely differ in opinion on the subject.” He also said that “Issues pertaining to execution should not be hurried until there is definitive evidence of the crime,” Lari was also quoted saying that the amendment made no distinction between Muslims and non-Muslims. Former MP Salwa Al-Jassar told Al Watan Daily: “Blasphemy is forbidden in Islam. But the Parliament needs to draft a law which is very specific on what proof is required for a conviction, and what precisely constitutes blasphemy.” Al-Jassar also expressed her sincere hope that the Parliament will take more time to discuss the issue and seek academic and religious guidance and input on the matter before coming to any decisions. The issue is now beginning to draw international attention. Amnesty International, a global movement of over three million people who campaign to end grave abuses of human rights, published an article on their website which said “A proposed legal amendment that

would make blasphemy a crime punishable by death in Kuwait would be a massive step backwards by the country’s authorities,” Ann Harrison, Deputy Director of Amnesty International’s Middle East and North Africa Program said “We urge Kuwait’s parliament to reject such an amendment which would constitute a flagrant breach of the country’s international human rights obligations,” Article 18 of the Universal Declaration of Human Rights (UDHR) of which Kuwait is a signatory states: “Everyone has the right to freedom of thought, conscience and religion; this right includes freedom to change his religion or belief, and freedom, either alone or in community with others and in public or private, to manifest his religion or belief in teaching, practice, worship and observance.” Article 36 of the Kuwaiti constitution states that: “Freedom of opinion and of scientific research is guaranteed. Every person has the right to express and propagate his opinion verbally, in writing, or otherwise, in accordance with the conditions and procedures specified by law.” Despite being a signatory to the UDHR freedom of expression and religion in Kuwait does not extend to preaching religions other than Islam, or to the expression of ideas perceived as contrary to Islamic teachings and values. Freedom of expression is also stifled by public views which are so widely accepted that the entire culture represses dissenting views, as has been shown by demonstrations held in the wake of comments made by the before mentioned writers Al-Habib, Al-Mulaifi, and Al-Naqi during which the death penalty was demanded for each. For that reason many individuals simply do not wish to discuss or argue matters of religion for fear of causing contro-

versy or causing rifts within their families or communities. A 23 year old student and atheist who identified himself to us as Mohammed told us that “In any kind of discussion, when you invoke religion, there is no room for debate. With an Islamist majority in Parliament, I really don’t know how anyone can oppose them on this law. The Islamists keep trying to impose more Sharia law and their argument for it is religion. So how can you argue with them? They (the Islamist PMs) want to make Kuwait more like Saudi Arabia, if that’s the case, wouldn’t they be happier living in Saudi Arabia instead of Kuwait?” Mohammed further explains saying, “I don’t know why they think this is needed. Kuwaiti people are supposed to be educated and tolerant people. So why over a very small number of cases do they have to make such a harsh law? Have we become a pagan nation when nobody was looking? Whenever I try to argue with someone about this topic, they just tell me the reason is because it’s Islamic law, that you have to kill blasphemers and apostates, but in school, I was taught that there’s no compulsion in religion, and that Islam is a religion of peace and tolerance. So why are we working so hard to contradict ourselves?” Sheikha Muneerah Al-Sabah said “I don’t believe for a moment that this law will pass. Public opinion is very much against it. When I open the newspapers, I find many opinions contradict it.” on the whole issue, she tells us that “You can’t pick and choose what you want from Sharia. In Sharia there is no democracy. In Sharia, there is a ruler, and counselors, no Parliament. If the intention is to follow Sharia laws, we have to do away with our democracy

and go against the constitution our forefathers chose as a path for us.” Khalid Yahya a half Kuwaiti man told Al Watan Daily, “I can’t believe this is happening. I don’t think it’ll pass. Anywhere else in the world, such an idea would draw intense criticism from Human Rights groups. You can’t take someone’s life for his opinions, that’s just wrong.” A Kuwaiti thinker and atheist who declined to be named for this article said “It’s ridiculous that the death penalty would even be considered for something like blasphemy.” In a statement to Al Watan Daily he wondered “What is the point in having conviction if there are no dissenting opinions? For the sake of argument let’s say someone insults Sir Isaac Newton and says gravity is a farce. You and I know that gravity is fact, only a lunatic would believe otherwise. Let’s say then that to you and I know Islam is fact, only a lunatic would believe otherwise. So what then? Let him be a lunatic, he is doing no harm to me because I know with every ounce of my body that Islam is fact.” He concludes by saying “Words are only words and the only power they have is what you give them. By punishing and making a big deal about any specific statement it just adds legitimacy to what they’re saying by showing everyone it frightens you. If you are strong in your faith no statement will frighten you.” Al Watan Daily attempted to contact the Kuwait Society for Basic Evaluators of Human Rights and the Kuwait Society for Human Rights, however they were not available for comment. Meanwhile, Undersecretary of the Ministry of Awqaf and Islamic Affairs Dr. Adel Al-Falah on Tuesday stressed the necessity of maintaining special respect for companions of Prophet Mohammed (PBUH) and his family members, and urged believers to brush aside fanaticism. Dr. Al-Falah made the call at the inaugural session of a forum, themed “Pioneers of Islam, Imam Al-Bukhari as an example,” organized by the charitable association, Marabrrat Al-Al Wa-Al-Ashab (family and companions of the Prophet), under sponsorship of Minister of Justice, Awqaf and Islamic Affairs Jamal AlShehab. The undersecretary underscored the significance of studying personality and acts of the companions of the Prophet, “particularly at these critical times of divergent and distorted views.” He praised personality of the two-day forum, Imam Al-Bukhari, for his prudent and authentic documentation of sayings of Prophet Mohammad. Elaborating, Dr. Al-Falah said the ministry was concerned with the issue of national unity, social cohesion, protection of peaceful communities’ co-existence, for sake of protecting the Kuwaiti society against calls for sedition and divisions. The ministry, in cooperation with the association, has shouldered responsibility of boosting Kuwait’s coordination with Gulf and foreign countries for sake of promoting high respect for the companions of the Messenger and their high status.

Kuwaiti, Omani officials discuss media cooperation Joint committee determines maximum period of 8 years for undersecretaries’ service Staff Writer

KUWAIT: The joint parliamentary subcommittee that was formed by the Financial Committee and the Legislative agreed on assigning a maximum period of eight years for undersecretaries to remain in their positions. This was announced in a press release on Tuesday. The committee postponed the discussion of assigning a similar period for the assistant undersecretaries. On his part, the Head of the Legislative Committee Member of Parliament (MP) Waleed Al-Tabtabaie said in a press statement that the government asked for assigning 12 years as a maximum period for the

assistant undersecretaries, but the committee refused and insisted to determine only eight years. The committee is expected to finalize the matter within the next week, followed by referring its report to Parliament. Al-Tabtabaie also discussed the role of private sector which is expected to accommodate more Kuwaiti employees in the coming period. “However, attractive salary raises should be endorsed for Kuwaiti employees at the private sector, unlike the suggested one worth 25 percent,” added Al-Tabtabaie. Meanwhile, the committee asked Civil Service Commission (CSC) to increase the suggested salary raise of Kuwaiti employees at the private sector.

Malta, Kuwait keen to develop bilateral ties: Ambassador VALLETTA: Kuwait’s Ambassador to Malta Faisal Sulaiman Al-Musaleem discussed on Tuesday Maltese Prime Minister Lawrence Gonzi means to bolstering relations between Kuwait and Malta on all possible levels. Al-Musaleem told Kuwait News Agency (KUNA)

that it was important to exchange visits between both countries’ officials for the sake of boosting cooperation. He noted in this context that the Prime Minister also praised the excellent role played by Kuwait in his country, hoping that ties were further bolstered. -KUNA

Minister of Information Sheikh Mohammad Abdullah Al-Mubarak Al-Sabah meets Undersecretary of the Ministry of Information in Oman Ali Al-Jaberi on Tuesday, May 1, 2012. (KUNA)

KUWAIT: Minister of Information Sheikh Mohammad Abdullah Al-Mubarak Al-Sabah met here on Tuesday with Undersecretary of the Ministry of Information in Oman Ali Al-Jaberi, who is visiting Kuwait to attend the Arab Media Forum currently being held here. The two officials went over aspects of coop-

eration between their respective ministries, with the aspiration that there would be more interaction between them on developing their skills in fostering better radio and TV programs for Omani and Kuwaiti audiences. They emphasized also the need to exchange broadcast programs and materials. -KUNA

KFAED signs KD 7.5 million loan agreement for Cuba

Kuwait’s Ambassador to Malta Faisal Sulaiman Al-Musaleem (left) with Maltese Prime Minister Lawrence Gonzi (right) on Tuesday, May 1, 2012. (KUNA)

KUWAIT: Kuwait Fund for Arab Economic Development (KFAED) signed a loan agreement of 7.5 million Kuwaiti dinars to finance rehabilitation of water network and sewage project in Havana, the Republic of Cuba. KFAED’s press release said, on Tuesday, that another related guarantee and project agreements were also signed between the Fund and representatives of the Republic of Cuba, namely the Institute of Hydraulic Resources. The Guarantee Agreement was signed on behalf of the Republic of Cuba by Vice Minister of Finance and Prices Felix Martinez Suarez. The Loan Agreement was signed on behalf of the Cen-

tral Bank of Cuba “Banco Exterior de Cuba” its President Jacobo Peison Weiner; furthermore, the Project Agreement was signed on behalf of the Institute of Hydraulic Resources’ Vice President by Jva Jose Gonzalez Escudero. All three Agreements were signed on behalf of KFAED’s Director-General Abdulwahab Al-Bader. The aims of the Project are to meet the future demand for drinking water , reduce the loses in the transmission and distribution networks and protect the natural resources and the environment for about 550 thousand inhabitants living in 12 municipalities within the city of Havana through the rehabilitation of

water and sewerage network and installation of water meters. The 12 municipalities within the project area are divided into two groups based on the degree of urgency. The first group consists of 7 municipalities namely; Cotorro, San Miguel, Guanabacoa, Habana del Este, Habana Vieja, La Lisa and Arroyo Naranjo. The second group consists of five municipalities namely; 10 de Octubre, Centro Habana, Cerro, Marianao and Boyeros. This is the third loan provided by KFAED to the Republic of Cuba. Two past loans of KD 7.5 million were also given to Cuba to finance the Santiago de Cuba Water Supply System. -KUNA

ALWATAN DAILY

regional Stirring the pot

By Hossam Fathi Staff Writer

We can’t take rumors seriously when it is said that the Saudi Minister of Foreign Affairs Saud Al-Faisal has released politically damaging statements, because he is a well-known diplomatic figure and there are certain sides attempting to interrupt the ties of Egypt with its sisterly Arab countries. The statement or bit of news has spread rapidly in Egypt and it was published in various social networking websites. According to circulating news the minister allegedly told the Saudi security personnel at the Saudi embassy in Cairo to open fire at any person attempting to undermine the embassy’s security, and that the minister had also allegedly said that everyone is aware that smuggling drugs in Saudi Arabia leads to capital punishment, therefore the detained Egyptian citizen will be sent back to Egypt inside a coffin. Shortly after, the Saudi Ministry of Foreign Affairs denied such groundless rumors, and the real source behind the false reports was unveiled after a few hours. However, the item of news was broadcasted by the Fars News Agency (FNA) at 5:15 p.m. last Sunday. It was broadcast as the following: “Al-Faisal says that detained Egyptian citizens will be sent to Egypt in coffins!” Now we are aware of the side that has attempted to disrupt the diplomatic ties of the two sisterly countries and, we have also discovered that Iran seems to be aiming at garnering support from Egypt, to fashion it into one of its allies in the region, through interrupting the strong Egyptian-Saudi ties. hossam@alwatan.com.kw Twitter:@hossamfathy66

Egypt’s Muslim Brotherhood ‘waiting’ for reshuffle

CAIRO: Politicians in Egypt offered conflicting views on Tuesday about whether the ruling military will reshuffle the cabinet before presidential elections due next month. The Freedom and Justice Party, the political arm of the Muslim Brotherhood, has been pressing the military junta to sack Prime Minister Kamal Al-Ganzuri’s government and task it with forming a new cabinet. On Sunday, the Brotherhood said Supreme Council of the Armed Forces chief Field Marshal Hussein Tantawi had promised parliament speaker Saad Al-Katatni that he would carry out an imminent reshuffle. And the Islamist-dominated parliament decided to suspend its sessions until May 6 in protest at the military’s refusal to sack the government. But on Tuesday, senior Brotherhood official Essam Al-Eriane said “there is nothing new; we are still waiting. The ball is in their court.” “The parliament sessions are still suspended and will resume on Sunday. If there is something new by then, we will adopt a new position.” Eriane said Katatni had received a call from a member of Egypt’s ruling military council, saying the reshuffle was expected. He did not identify the caller, but clarified that it was not Tantawi. And Al-Gomhuria, a state-run daily, said a reshuffle would occur, but only in few ministries, including the foreign affairs portfolio. But two ministers said there was no plan for a reshuffle. Minister for Parliamentary Affairs Mohammed Attiya was quoted by flag-ship state-run daily, Al-Ahram, as saying “the government of Kamal Ganzuri will remain in place until late June.” And Minister for Planning and International Cooperation Fayza Abul Naga was quoted by independent daily, Al-Shuruq, as saying “to my knowledge, there is no cabinet reshuffle. And if it does happen, the prime minister will announce it himself.” -AFP

WEDNESDAY, MAY 2, 2012

Palestinians see backlash if hunger strikers die NABLUS/RAMALLAH: Palestinian prisoners minister Issa Qaraqaa on Tuesday warned there would be a major backlash if any of the detainees on a mass hunger strike inside Israeli jails were to die. “We will not accept our prisoners returning in coffins from the occupation’s prisons,” Qaraqaa told a 3,000-strong crowd demonstrating in solidarity with the prisoners in the West Bank city of Nablus. “If anything happens to any prisoner, the explosion will not stay inside prison walls but will extend to the outside,” he said. Around a third of the 4,700 Palestinian prisoners being held in Israeli jails are currently on open-ended hunger strike, according to the Israel Prisons Service, which puts the number at 1,450. Most have been refusing food for around two weeks, but eight of them are at an advanced stage of their hunger strike and two - Bilal Diab and Thaer Halahla - have gone 63 days without eating.A doctor with Physicians for Human Rights who examined them on Monday found they were in danger of dying and were not receiving adequate medical care where they are being held in the Ramle prison infirmary near Tel Aviv. “I appeal from Nablus to all human rights organizations in the world to act urgently to save the lives of Bilal Diab and Thaer Halahla who are in danger of dying,” Qaraqaa said. “I hold Netanyahu’s government responsible for everything that is happening to the prisoners,” he said, referring to the administration of Israeli Prime Minister Benjamin Netanyahu. Late on Monday, Islamic Jihad also said Israel was responsible for the lives of Diab and Halahla, and warned it would no longer abide by a truce agreement in Gaza if either of them died in Israeli custody. “The death of either Bilal Diab or Thaer Halahla will nullify the truce,” Islamic Jihad official Khader Habib told reporters in Gaza City. “The enemy has to understand the message: any harm to the lives of the prisoners will lead to an escalation.” Meanwhile, 300 people gathered outside Ofer military prison near the West Bank city of Ramallah in a show of support for the prisoners. Clashes erupted between stone-throwing youths

Palestinian protesters lie on the ground after being hit by pepper spray during clashes with Israeli troops outside Ofer military prison near the West Bank city of Ramallah on May 1, 2012, following a demonstration in support for prisoners held in Israeli jails. (AFP)

and the Israeli army, who fired tear gas, rubber bullets and a foul-smelling liquid known as “skunk” to break up the demonstration, according to an AFP correspondent at the scene. A

Syria violence kills 23 despite UN-monitored truce BEIRUT: Violence erupted in two Syrian provinces on Tuesday, with a rights group reporting 10 civilians dead in an army mortar attack and 12 soldiers killed in a fire-fight with rebel gunmen as UN monitors sought to shore up a shaky ceasefire. The Britain-based Syrian Observatory for Human Rights, which tracks the 13-month-old uprising against President Bashar Al-Assad, said nine members of one family died in mortar bomb blasts in a village in the northern province of Idlib. An activist on the Turkish border, Tareq Abdelhaq, said 35 people had been wounded and that some were being carried 25 km (15 miles) along mountain tracks to receive emergency treatment in refugee camps dotted along the frontier. “Some are being smuggled over the border to Turkey. They had to carry the wounded and go through the mountains to avoid checkpoints on the road,” Abdelhaq said. “One guy died on

the way. He was 19 years old and had very bad injuries.” In the eastern Deir al-Zor province, troops hit back with mortar and heavy machinegun fire after losing a dozen of their own to insurgents, killing at least one villager and destroying a school, the anti-Assad Observatory added. The United Nations says Syrian forces have killed more than 9,000 people since the uprising began in March 2011. Like other Arab revolts against autocratic rulers, it began with peaceful mass protests but a violent government response has spawned an increasingly bloody insurgency. Damascus says rebels have killed more than 2,600 soldiers and police. A UN ceasefire brokered in mid-April led to a brief lull but failed to halt the conflict. Rebels starved of funding and ammunition appear to be stepping up a bombing campaign. Explosions blew the fronts off buildings in the northwestern city of Idlib on Monday, kill-

ing nine people and wounding 100, including security personnel, according to state television, which blamed the blasts on “terrorist” suicide bombers. Damascus has accused the United Nations of turning a blind eye to rebel ceasefire violations, although Secretary-General Ban KiMoon condemned the Idlib blasts and a rocket attack on the central bank in the capital as “terrorist bomb attacks”. The United Nations now has 30 truce monitors in Syria, a nation of 23 million people, and expects to have 20 more of the planned 300-strong mission on the ground by the end of the week. Their commander, Norway’s Major General Robert Mood, has acknowledged his mission could not solve Syria’s fundamental problems, but said the security crisis was not insoluble. “We have seen this in many crises before that if you simply keep adding to the violence with more bombs and weapons and more vio-

lence, it becomes a circle that is almost impossible to break,” he told BBC radio. “We are not in that situation.” Western governments have lost patience with Assad, accusing him of breaking promises made to UN-Arab League envoy Kofi Annan that he would order troops and tanks back to barracks. Paris has called for UN sanctions against Damascus, but the West can do little given the diplomatic cover Syria enjoys at the Security Council from China and Russia. Moscow says the rebels are mainly to blame for the continued violence. Western states are wary of military intervention along the lines of last year’s antiGadhafi air campaign in Libya because of the political, diplomatic and military complexities of tackling Syria, as well as the potential repercussions on a volatile Middle Eastern neighborhood. -Reuters

Suicide bomber UN debating how kills MPs in central Somalia to end Sudan-South Sudan fight UNITED NATIONS: Diplomats from key nations are trying to reach agreement quickly on a new UN resolution that would threaten non-military sanctions against Sudan or South Sudan if they don’t halt fighting and return to negotiations. Senior representatives from the five veto-wielding Security Council nations - the US, Russia, China, Britain and France - and South Africa met behind closed doors Monday. Diplomats said they were close to agreement on a revised draft of the resolution proposed by the United States on Thursday. The draft resolution endorses an African Union plan aimed at getting the two countries to step back from the brink of war and resolve their differences. South Sudan won independence from Sudan last year as part of a 2005 peace treaty that ended decades of war that killed 2 million people. But the neighboring countries have been drawing closer to full-scale war in recent weeks over the unresolved issues of oil revenues and their disputed border, sparking alarm and condemnation from the international community. Diplomats said the revised draft under discussion still expresses the Security Council’s intention to adopt measures under Article 41 of the UN Charter in case of non-compliance by Sudan or South Sudan.

Israel security boss ‘meets EU brass over Iran talks’

CAPITALS: Israel’s National Security Adviser Yaakov Amidror is holding talks with European officials ahead of the next round of talks over Iran’s disputed nuclear program, a newspaper reported on Tuesday. The report, in the left-leaning Haaretz daily, said Amidror’s trip was linked to Israeli concerns that the talks between Iran and the P5+1 group of world powers could ultimately end with a deal that would allow Tehran to continue enriching uranium. Israeli officials refused to comment on the report. The P5+1 grouping of diplomats from the United States, Russia, China, Britain, France and Germany, held a first round of talks with Iran on April 14 in Istanbul with a second round due to take place in Baghdad on May 23. Haaretz said Amidror arrived in Brussels on Monday and held talks with Helga Schmid, the EU deputy secretary general for political affairs, who is responsible for preparatory talks with Iran ahead of the Baghdad meeting. Amidror was expected to travel on Wednesday to Berlin where he was to meet top German officials, among them Hans-Dieter Lucas, Germany’s representative to the Iran talks, the paper said. Two weeks ago, Amidror was in Moscow for similar talks and met Foreign Minister Sergei Lavrov, Haaretz said. Israel has consistently warned that a nucleararmed Iran would pose an existential threat to the Jewish state, and has refused to rule out a pre-emptive strike in a bid to halt it. And top officials have expressed doubt the talks would be effective, with Prime Minister Benjamin Netanyahu last month criticizing the Istanbul meeting as having little impact, and effectively giving Tehran “a freebie” to continue enriching uranium. And on Monday, Defense Minister Ehud Barak also said he had little confidence the talks would succeed. -AFP

photographer was badly injured after being hit in the head by a stone thrown by a protester, an AFP correspondent reported. -AFP

Somalia government soldiers secure the scene of an explosion that was planted inside a luxury car near KM4 in Somalia’s capital Mogadishu, May 1, 2012. (Reuters)

MOGADISHU: A suicide bomber killed three Somali lawmakers on Tuesday at a hotel in the central town of Dusamareb, where legislators visiting from the capital were meeting, local authorities said. Al-Qaeda-linked Al-Shabaab rebels claimed responsibility for the attack, and also for a car bomb in the heart of the capital Mogadishu on Tuesday that killed one man. While suicide bombers sent by AlShabaab militants have struck government targets and African Union troops in the capital Mogadishu often in recent years, such attacks are rare in central Galgadud region. The delegation of lawmakers was in Dusamareb to discuss how to form local administrations in the central region of Galgadud, as part of political reforms meant to bring a string of transition governments to an end with elections in August. Member of parliament Dahir Amin Gesow told Reuters he was in the hotel cafe when the bomber walked in blew himself up. He said several people were killed, including some lawmakers. The spokesman for the pro-government militia which controls Dusamareb,

the capital of Galgadud, said the total death toll from the blast was four. “The bomber killed four people, including three legislators and one of our soldiers,” Sheikh Abdullahi Sheikh Abu Yusuf, spokesman for the Sufi militia Ahlu Sunna Waljamaca, told Reuters. Dusamareb, 560 km (350 miles) north of Mogadishu, has been under the control of the Ahlu Sunna militia group for years, although Al-Shabaab fighters have seized the town briefly on several occasions, including in March this year. Al-Shabaab’s spokesman for military operations, Sheikh Abdiasis Abu Musab, told Reuters one of their bombers was behind the attack and that Ahlu Sunna officials, Ethiopian officials and legislators had been killed. Ethiopia has long backed Ahlu Sunna in its fight against Al-Shabaab, providing training and weapons. Ethiopian also sent its own troops into Somalia last year to take on the Islamist rebels, mainly to areas where Ahlu Sunna has a presence. In Mogadishu, a bomb planted inside a car killed a man near the busy Kilometer 4 junction. Al-Shabaab said it had killed him because he worked for the government. -Reuters

Article 41 authorizes the council to impose nonmilitary measures such as economic sanctions to implement its resolutions. The diplomats, speaking on condition of anonymity because the talks have been private, said the US is pressing for a quick vote. Russia and China generally oppose sanctions and Russia’s Foreign Minister Sergey Lavrov was quoted by the Itar-Tass news agency as saying after meeting Sudan’s Foreign Minister Ali Karti in Moscow on Monday that the resolution “does not envision the use of force.” At the same time, Lavrov said, “Economic influence is possible.” He was quoted as saying compliance with the Security Council “will make it possible to start the talks between Khartoum and Juba.” The 53-member African group asked the UN Security Council to endorse the roadmap, which demands that Sudan and South Sudan immediately cease hostilities, unconditionally withdraw all their armed forces to their side of the border, resume AUled negotiations within two weeks, and conclude negotiations within three months. Sudan’s UN Ambassador Daffa-Alla Elhag Ali Osman said last week the timeframe needs to be adjusted because “it’s very short” even to call on the negotiating teams to resume talks. -AP

Swiss woman kidnapped in Yemen says held by Al-Qaeda

ADEN: A Swiss woman kidnapped in Yemen in March said in a video posted online on Tuesday that she was being held by Al-Qaeda and asked Swiss authorities to help secure her release. “I’m doing more or less good, I’m being treated very well,” she said in a short address posted on YouTube, an online video service. “I work in Hudaida and since March 13 I’ve been kidnapped and I’m in the hands of Al-Qaeda now.” The authenticity of the recording could not be immediately established. Switzerland’s foreign ministry said it was aware of the video but could not comment on its veracity. The woman’s name has not been released officially. A Swiss woman was kidnapped at gunpoint in the western Red Sea city of Hudaida in March as she left a privately owned language institute where she taught English. “I ask the Swiss embassy and the Swiss government to do what is necessary... to get me free,” she said, wearing a black headscarf and eyeglasses. In Switzerland, a foreign ministry spokesman could not comment on whether she had indeed been kidnapped by Al-Qaeda. “We’ve taken note of this clip. It will be taken

into account in our work to try to get her released,” said Jean-Marc Crevoisier, the ministry spokesman. In the clip, the woman held up a piece of paper with the Middle East Economic Digest (MEED) logo, under which the date Nov. 25 - Dec. 1, 2011 - was circled with a marker. The significance of the date, which is several months before her kidnap, was not immediately clear. An interior ministry official last month said the woman’s captors had demanded the Yemeni government free their jailed relatives in exchange for her release. He said they had taken her to their hometown in the southern province of Shabwa and that negotiations for her release between the Yemeni government and the tribesmen were underway. Kidnappings of foreigners and Yemenis are common in the impoverished Arabian Peninsula state. Many are freed unharmed. A French official of the International Committee of the Red Cross was also kidnapped last month while traveling from northern Yemen to the Red Sea port city of Hudaida. A tribal source later said he had been transported to the southern town of Jaar, an Islamist militant stronghold, where he is still being held. -Reuters

ALWATAN DAILY

WORLD

wednesdAY, may 2, 2012

India ferry disaster leaves over 200 dead, missing GAUHATI: Hopes dimmed on Tuesday of finding more survivors after an overcrowded ferry split in two and sank in northeast India, leaving more than 100 dead and around 100 missing. Police said 105 bodies, including women and children, had been recovered so far from the fast-flowing waters of the Brahmaputra river in Assam state, where the ferry sank in a sudden storm late Monday afternoon. Despite an operating capacity of 225, some 350 people were believed to be on the two deck boat when it broke up mid-river in torrential, pre-monsoon rains. Police said some 150 were rescued or swam to safety. The ferry carried no lifeboats or lifebelts and the chances of picking up more survivors after a night in the water were remote. “The weather is inclement and the river is rough so the rescue efforts are being hampered,” state police chief J.N. Choudhury told AFP. Taleb Ali, a 35-year-old peasant who survived the sinking, said passengers had begged the skipper to anchor the ferry at a sandbar when the storm hit mid-stream, but he refused. “Then the storm became more intense and the boat split into two parts before sinking,” Ali told AFP. Local fishermen, who live with their families in tiny hamlets stretching along the Brahmaputra - which has a reputation as a treacherous

Rescuers pull out the wreckage of a ferry that capsized in the Brahmaputra River at Buraburi village, about 350 kilometers (215 miles) west of the state capital Gauhati, India, May 1. (AP)

waterway - combed the shores for survivors. Arun Kalita, a 30-year-old road construction worker who swam to safety, said, “I could hear many people screaming for God’s help but it was a turbulent river and the storm was very severe.”

“No one could come and rescue them,” he said. Strong winds had uprooted trees, blocking roads leading to the disaster site and preventing some rescue teams from reaching the area, said officials. More rain was forecast for the area on Tuesday. The death toll could make the ferry

Clinton heads to China as dissident case looms WASHINGTON: Secretary of State Hillary Clinton is heading to China as US officials raced to find a solution to a sensitive row over a top dissident reportedly holed up at the US embassy in Beijing. Clinton and Treasury Secretary Timothy Geithner had long planned to go to Beijing for the annual meeting between the world’s two largest economies that now is likely to be overshadowed by the case of blind activist Chen Guangcheng. Chen, who riled authorities by exposing forced abortions and sterilizations under China’s one-child policy, made a daring escape last week from house arrest and, according to fellow activists, took refuge in the US embassy. US officials have kept an unusually solid wall of secrecy over the case, refusing even to say Chen’s name. But President Barack Obama and Clinton both said Monday that they would press for human rights in China. “A constructive relationship includes talking very frankly about those areas where we do not agree, including human rights. That is the spirit that is guiding me as I take off for Beijing,” Clinton said. Experts said that they saw few easy ways to resolve the case of Chen, who has said that he and his wife suffered severe beatings for defiantly speaking out after he completed a fouryear jail sentence. Chen, 40, is said to want to stay in China, but US officials would be loath to hand him over without iron-clad safety guarantees. Kenneth Lieberthal, a China expert who

Hillary Clinton with the Chinese foreign minister, Yang Jiechi, at the Apec summit where she repeated America’s ‘serious concerns’ about China’s human rights record and called on it to be a partner in global growth. (Reuters)

was a top aide to president Bill Clinton, said he believed that the United States wanted a solution that is “the least embarrassing to China and to do so as expeditiously as possible.” “The question to my mind is whether in China this turns into a political football in a very political season. I think it’s more likely to be resolved than to turn into a political foot-

Gunfire in Mali’s capital, junta claims control

BAMAKO: Gunfire echoed across Bamako on Tuesday as Malian government troops battled each other, with one side trying to oust soldiers who seized power in a coup over a month ago. Mali’s coup leaders, who ostensibly handed over power to an interim civilian government on April 12 but who still wield power, said they control the state broadcaster, the airport and a military base, fending off attacks by opposing forces. Sanogo told a private radio station Monday night that the countercoup had failed and that his soldiers have captured foreign fighters. A senior Western diplomat based in Bamako told The Associated Press that the fighting apparently started when forces loyal to the junta tried to arrest the former head of the presidential guard. The presidential guard is part of Mali’s parachutist regiment, known as the Red Berets, who are believed to have remained loyal to President Amadou Toumani Toure, who was ousted during the coup. Anti-junta forces on Monday tried to take over the country’s state broadcaster and attacked the airport and the junta’s main military base. Soldiers loyal to coup leader Capt. Amadou Sanogo appeared on state television early Tuesday and said the important installations remain in their hands after fighting started on Monday. But heavy gunfire across Bamako suggests that the leaders of the March coup don’t yet have total control over the capital. A resident in the camp where most of the military personnel who tried to stage the countercoup live said Sanogo’s forces are trying to capture those who staged the countercoup. “Most of the families who live here and most of the military personnel have fled, but they still come to attack the camp,” the resident said. He asked for anonymity for fear of reprisals. He said that he could hear both small arms fire and heavy weapons but could not give more details as he was afraid to leave his house. State television showed a small group of prisoners along with guns, ammunition and grenades supposedly belonging to the captured troops. “Those arrested come from different origins and were supported by hidden internal forces,” a statement read by soldiers Tuesday said. “Some of these people have been detained by the armed forces and an in-depth investigation will take place. We remind you that everyone involved ... will be tracked down and brought before the competent jurisdictions.” Sanogo has signed a deal with ECOWAS, the West African regional bloc, to return the country to constitutional rule. The deal gave the junta a supervisory role in the transition. But Sanogo said Sunday that he rejects a plan to send ECOWAS troops to Mali to protect the president’s and prime minister’s office. Mali is also battling insecurity in its desert north where separatist rebels have declared independence, and militants are trying to impose strict Islamic law. Tuareg separatist fighters and Islamic militants took advantage of the chaos caused by the coup in Bamako last month to quickly advance and capture the three main towns in the north of Mali at the end of March. Mali government forces fled south without putting up any major resistance. -AP

ball, but you never can predict this stuff,” said Lieberthal, a senior fellow at the Brookings Institution. China is preparing for a once-in-a-decade political handover, with the communist leadership eager to preserve calm as Vice President Xi Jinping prepares to succeed President Hu Jintao.

NEWS IN BRIEF

sinking one of the worst in recent memory in South Asia, where such disasters are common due to lax safety standards, recklessness and overloading. Survivors said many passengers had continued to board the ferry even after the last tickets had been sold. The bodies of the victims were being kept at a local hospital. The boat was on its way from Dhubri, some 300 kilometers (190 miles) from the state capital Guwahati, to Fakirganj. Prime Minister Manmohan Singh called the sinking a “tragedy”. He was “shocked and grieved to know about the loss of lives”, he said in a statement, adding he had given instructions “for all possible assistance to the government of Assam in relief operations”. Assam state chief minister Tarun Gogoi told AFP that Singh had promised to rush disaster response units from New Delhi and other locations. In one of the last major ferry disasters in India, at least 79 Muslim pilgrims drowned when an overcrowded boat carrying 150 people sank in the eastern state of West Bengal in October 2010. In March this year, some 138 people died in neighboring Bangladesh when an overloaded ferry carrying 200 people sank in the Meghna river southeast of the capital Dhaka. -AFP

The facade of a smooth transition was already shattered when rising star Bo Xilai was dramatically ousted from China’s inner circle in a scandal that involved his right-hand man seeking refuge - unsuccessfully - at a US consulate. The United States is also entering a political period. White House hopeful Mitt Romney has sharply criticized Obama’s China policy, saying he should challenge the rising Asian power more aggressively over its human rights record, trade practices and military expansion. Before the Chen case, Obama administration officials had hoped to showcase small signs of progress in relations with China at the Strategic and Economic Dialogue, which takes place Thursday and Friday. “Up until now, in the last few months, things have been going pretty well in the relationship,” said Nina Hachigian, a senior fellow at the Center for American Progress, a leftleaning think tank. But Hachigian said China’s human rights record was one area without positive developments and that Chen’s case “is obviously going to affect the aura in which the talks are being held.” Clinton will head from China to Bangladesh and then India, as part of US efforts to build relations with the world’s other billionplus nation. Clinton met Monday with key allies the Philippines and Japan, throwing a gala dinner for Japan’s Prime Minister Yoshihiko Noda just before her flight to China. -AFP

Joint Afghan-NATO raid kills two in eastern village KABUL: NATO said a Taliban leader and another insurgent were killed Tuesday after they opened fire on coalition forces in eastern Afghanistan. Villagers in the area disputed the statement and insisted the victims were civilians killed during a predawn raid. According to the alliance, the Taliban leader killed in Laghman province’s Qarghayi district was wanted for coordinating roadside bombings against Afghan and coalition forces throughout the area. NATO also said that several other insurgents were detained in the Afghan-led operation. But in the village of Bolan, Mohammad Aziz Khochi said soldiers stormed his house at about 2 a.m. Tuesday and that two of his nephews were killed in the raid. -AP

Gadhafi ally in exile in France, Sarkozy says PARIS: French President Nicolas Sarkozy says that a former top aide to Libya’s Muammar Gadhafi apparently wanted by Interpol is living in France with government permission. The ex-aide, Basher Saleh, is a target of US sanctions. Sarkozy said on RMC radio Tuesday that “Saleh is in France.” Sarkozy says France’s government decided to take Saleh in after consulting Libyan authorities. Sarkozy insists that the French government is “working hand in hand with the Libyan authorities” and will turn Saleh over to Interpol if asked. -Reuters

Workers demand pay hikes in May Day marches MANILA: May Day moved beyond its roots as an international workers’ holiday to a day of international protest Tuesday, with rallies throughout Asia demanding wage increases and marches planned across Europe over government-imposed austerity measures. Thousands of workers protested in the Philippines, Indonesia, Taiwan and other parts of Asia, with demands for wage hikes amid soaring oil prices a common theme. They said their take-home pay could not keep up with rising consumer prices and also called for lower school fees. In debt-crippled Greece, more than 2,000 people marched through central Athens in subdued May Day protests centered on the country’s harsh austerity program. Young men targeted political party stands, and minor scuffles broke out. -AP

UK police arrest seven over suspected terrorism funding LONDON: British police said on Tuesday they had arrested seven people on suspicion of financing terrorism overseas and money laundering. The six men and one woman were arrested in early morning raids in London,Welsh capital Cardiff and Coventry in the English midlands, police said. The arrests were part of an international investigation into the illegal export of the stimulant qat to the United States and Canada. -Reuters

UN chief hails flexibility of Myanmar’s Suu Kyi YANGON: UN Secretary-General Ban Ki-moon, winding up a trip to encourage reforms in Myanmar, praised opposition leader Aung San Suu Kyi on Tuesday for supporting democratization by making a political compromise. Ban said after meeting Suu Kyi that he admired her for agreeing to drop a demand that the wording of the oath of office be changed before her party members take their seats in parliament, which is expected Wednesday. Suu Kyi’s National League for Democracy had sought to have the wording changed to “respect” the constitution from “safeguard” the constitution, but agreed Monday that it could work on the issue after being sworn in. The party wants to amend elements of the 2008 charter it considers undemocratic. “Politicians sometimes will continue to have differences of opinion, but real leaders demonstrate flexibility for the greater cause of people and for the country,” said Ban. “I’m sure she’ll play a very constructive and active role as a parliamentarian.” President Thein Sein, prime minister in the former military government, came to power a year ago after a general election that left the military in firm control but signaled a desire for political reconciliation. His government is keen to have Western nations drop the sanctions they imposed against the junta for its repressive policies. His program gained steam after winning he endorsement of Suu Kyi’s democracy movement, which then nearly swept April 1 by-elections to make it the spearhead of a small opposition bloc in parliament. Ban in a speech to parliament on Monday urged Western nations to ease sanctions, saying such action would encourage further reform. He also called for a significant increase in development aid. In that speech, believed to have been the first

UN Secretary General Ban Ki-moon, (left), talks to medias during a press conference after meeting with Myanmar pro-democracy leader Aung San Suu Kyi at her lakeside residence, May.1, in Yangon, Myanmar. (AP)

ever by a foreigner before Myanmar’s parliament, he hailed Thein Sein and Suu Kyi, saying they had “demonstrated the confidence and statesmanship needed to look beyond politics to the longer and larger interests of the nation.” He said Tuesday that that in meetings with the two, he encouraged flexibility, wisdom and compromise for tackling issues on which they disagreed. Suu Kyi had been criticized by some sympathizers over

her party’s earlier decision to boycott parliament, and on Monday she said she took responsibility for failing to be aware of the wording problem earlier. On Tuesday, she said that her party has always worked flexibly, even as an extra-parliamentary opposition. “We have always believed in flexibility throughout the years of our struggle,” the Nobel peace laureate said after meeting Ban. “That is the only way in which we can achieve our goal without violence.” -AP

Nigerian troops raid suspected Boko Haram hideout LAGOS: Nigerian troops raided Tuesday a suspected hideout of Boko Harem used for its violent attacks in the northern city of Kano, killing one Islamist and recovering some arms and ammunitions. An AFP reporter who visited the scene said a military task force stormed the two-bedroom bungalow at Bubbugaje in the outskirts of the city around 4:30 am and engaged the insurgents in a shootout. One Islamist was killed while another escaped, and the house was badly damaged in the raid. The soldiers also arrested three women, including

one nursing mother and a three-year-old girl, while security agents took over the building with the area cordoned off. Three armored carriers and a bulldozer were stationed in the area. Items recovered included 35 low-calibre IEDs (improvised explosive devices), five high-calibre remote control IEDs, one AK-47 rifle, 458 rounds of ammunitions, 35 knives, two laptops, a motorcycle, two laptops and a bag of fertilizers. A bank deposit slip and a leaflet purportedly containing a message by the Boko Haram leader were

also found in the building. One of the arrested women told AFP she was married to a member of the group. “I was married to my husband a year ago.We met in Wudil. I only came to know that he was a member of Boko Haram recently. He managed to escape during the raid this morning,” the 18-year-old woman said. Boko Haram’s insurgency, mainly in Nigeria’s predominantly Muslim north, has killed more than 1,000 people since mid-2009. -AFP

ALWATAN DAILY

OPINION

wednesDAY, may 2, 2012

Master of the art of contradiction, craftiness and shrewdness Fuad Al-Hashem

have, over the years, cultivated the healthy habit of walking long distances every single day without fail, especially during springtime here in Kuwait. I would also like to take this opportunity of making it absolutely clear here -- that I am not referring to; nor am I trying to deliberately create any innuendoes about the Arab Spring simply because I am truly referring to the inclement weather and climate especially during this time. To drive my simple and straightforward point home without any puns intended, I’d prefer to call it the “London weather” just like most of my Kuwaiti brothers who also hold the same opinion especially during the two months of February and March. Anyway, getting back to my routine and healthy habit, I make it a point to stride down the picturesque promenade just opposite Souk Sharq beginning from the fish market all the way to the coffee shop and back again. I carry on this routine until such a time that I can no longer feel my toes attached to my feet due to numbness creeping into them and it is only then that I feel the desperate urge to rush back home and have them immersed in a large bucket that is filled with warm water with dollops of salt mixed in to spring them back to life. This physical routine usually lasts for about three months each year, but the past three months of this particular year seemed to be quite different. This time around I witnessed many aged women and young girls simply seat themselves on the concrete barricades at the oceanfront and blankly stare out towards the horizon, some of whom even seemed to be staring beyond -- as far as their limited eyesight could afford them. And then there were those who I’ve spotted sitting quietly all by themselves while others sobbed silently into the comfort zones of each others’ arms. Now since I am a very sensitive person and curious by nature as well, my heart simple ached to see the sadness in their hearts and hence; has always felt the humane need to find out the pain and agony that these girls and women

This is indeed remarkable coming from a man who is fully aware and familiar with the type and nature of the regime that is currently governing Iraq.

were going through, little realizing that if I ever found out what was actually hurting them, it would certainly break my heart. I will however, relate within a couple of days, the reasons behind those sad and heartrending tears. I would like to however, move on to a different story altogether and which actually concerns my dear colleague Dawud Al-Basri who now resides in the Norwegian capital Oslo and who had written an article in the national newspaper Al-Seyassah under the title “Sayyed Al-Mahri and the Islamic Hegemony in the Orient.” That particular attention literally grabbed my attention and since I liked it so much, I honestly believed that the article was definitely worth being republished in this newspaper for the benefit of all those who did not have the opportunity of reading it. Sayyed Mohammad Baqir Al-Mahri, who is an official Shiite cleric in Kuwait had, as I had earlier mentioned in one of my previous articles, engaged in some publicity stunts that would have bewildered and gob-smacked a majority of our healthy citizens while those same publicity stunts would have caused serious health problems for all those afflicted with high blood pressure and diabetes. And while it is true that most of us do not suffer from such diseases; I am absolutely certain that we too will eventually end up suffering from such ailments because of Sayyed Al-Mahri’s horrendous statements. I am not here to discuss his legal opinions over the various issues that he dared to discuss simply because this is neither the place to do so nor do I find it appropriate to offer any suggestions or contradictions to those issues. I would however like to this opportunity to differ over

Building hideous landmarks in beautiful parks Waleed Jassem Al-Jassem

n a recent statement, MP Nabeel Al-Fadel released a number of statements disclosing the fact this colleague and MP Dr. Waleed Al-Tabtabaie has used his good office and position to appoint some of his relatives in some of the government institutions. They aver that it is unfair for an MP to use his power and authority in order help his friends and relatives while other ordinary citizens are compelled to wait their turn some of whom even have to wait for as long as 1 to 2 years after graduation! The statements of both Al-Fadel and Al-Tabtabaie have proved once again that some government authorities do not maintain a close vigil nor do they subject their employees to effective surveillance. In fact, it is even worse when some favored citizens are appointed through the use of wasta in most government institutions. It is common knowledge that some officials from various government institutions have succumbed to immense pressure imposed on them by some MPs and appointed candidates of their choice just to avoid more pressure being imposed on them or even being blackmailed by those in authority. Of course I am certain that such violations are not the norm in all government institutions. Moreover, the appointments of em-

ployees at certain institutions are not under the direct or indirect supervision of the Civil Service Commission (CSC). An although I do understand that some of those institutions must necessarily be exempted from scrutiny because they are sensitive ones, they should not be granted complete freedom to appoint and terminate employees at will; besides paying bonuses and gratuities to employees as and when they like. Just for the record, I would like to mention some of these authorities that do not come under the direct supervision and surveillance of CSC namely; the Amiri Diwan, His Highness the Crown Prince’s Diwan, His highness the Prime Minister`s Diwan, the National Security Apparatus, the Social Securities Institution, the Kuwait Fund for Economic Development, Kuwait News Agency (KUNA), Kuwait Institute for Scientific Research, Public Authority for Housing Welfare, Kuwait Petroleum Company, Kuwait Airways Corporation, the Public Authority for Commerce and Industry, the Kuwait Investment Authority, Kuwait University, the Savings and Credit Bank, Central Bank of Kuwait, the National Assembly, the Judicial Cadre at the Ministry of Justice, Zakat (Alms) House, the Audit Bureau, the National Guard and military individuals employed at both the Ministry of Interior and Ministry of Defense. In another development, a roundabout

two of his statements - one of which is his abject denial of ever having met with the Syrian President and war criminal Bashar Al-Assad as well as his other denial that he ever mentioned that he once had a divine vision in which he was told that the legendary sword and shield of Imam Ali Bin Abi Talib are always protecting the throne of war criminal Bashar Al-Assad. What manner of a man is one who first releases an absurd statement and then goes on to categorically deny that he had ever said that? With regards to the second issue, it is related to his conspicuous silence over the issue of killing and massacring innocent Syrian civilians by the savage and brutal Syrian forces which attracted the attention and condemnation of peoples in countries across the world. Of course, we can surely attribute Sayyed Al-Mahri’s refusal to comment as tactical or even related to his capacity as the official Shiite cleric in Kuwait and hence; any comment in favor or against would surely have an impact. However, although we understand and appreciate the finer nuances of his statements, we are fully confident that he will surely end that conspicuous silence the minute the Syrian regime is toppled and stripped off power and authority by the rebels. Sayyed Al-Mahri is only too well aware of the underlying fact that the Baathists are the most devious people and hence; definitely tend to either prefer to have it all, or destroy it all. This is the pattern that they have been setting all along. To prove a case in point, one has to look no further than recall the incident when the former Baathist president of Iraq declared without a hint of hesitation that Iraq would be taken without its people. There can be no doubt in one’s mind that the criminal Bashar is surely

following suit and doing exactly that. Nonetheless, let us ascribe to the idea that Al-Mahri’s conspicuous silence is merely tactical; but then again, the man has once again taken an about turn all of a sudden and declared that he nurses some fears that once the Arab Spring is over, the Middle East will be ruled by the Islamists (referring of course to the Muslim Brotherhood and the Salafists). This is indeed remarkable coming from a man who is fully aware and familiar with the type and nature of the regime that is currently governing Iraq. I say this because there can be no doubt in one’s mind that Prime Minister Al-Maliki is the head of an organization that is Iranian in origin and hence; swears his allegiance to that organization. That organization which is called the Al-Dawa Party is not, in any way, different in scope, attitude and mentality than the Muslim Brotherhood. Both organizations are simply two faces of the same coin. Now even if we tend to simply overlook Al-Maliki’s party, we will surely have to take into consideration the actual nature of the Supreme Council of the Iranian Revolution in Iraq. I wonder if Sayyed Al-Mahri has forgotten that he was one of the leading founders and that the party was funded and subsidized by the Iranian regime in 1983. Surely, the party is not designed to offer humanitarian services or undertake voluntary work for charitable organizations. And if all these reasons are just not enough, then I am absolutely certain that Sayyed Al-Mahri has not only adequate but justifiable answers for the clandestine and covert activities and operations of the Lebanese Hezbollah. I am also certain that Sayyed Al-Mahri will agree with me that the Hezbollah is not only a Shiite religious party but also swears its allegiance and loyalty to the Iranian regime. Sayyed Al-Mahri needs to answer a host of questions and to worsen an already deteriorating situation, his evasive approach will surely not help in easing the situation especially if he defiantly chooses to deny facts and not rumors and speculations.

BU QUTADA & BU NABIL in South Surra abounded with rows of trees and flowers until last year but suddenly the trees disappeared. We were later informed that those trees were uprooted because the relevant authority thought it prudent to build a monument there. The monument, which is mounted on a concrete pedestal with a small clock placed atop it -- is a sight that is sore for the eyes indeed. In fact the clock is so small that one has to strain one’s raising the chances of either crashing into the car in front of you or worse; crashing right into the roundabout itself! Why can’t the Public Authority for Agricultural Affairs and Fish Resources intervene in attempts to protect trees and having them replaced with unsightly monuments? Why can’t the authority also intervene and stop the demolition squads from stripping our natural reserves to the bare minimum! Last but not least, we have finally confirmed through reliable Libyan sources that the information which our colleague Fuad AlHashem published about Saif Al-Islam’s finger being severed by Libyan rebels is indeed correct. In fact, they chose to sever the very finger that Saif had used to threaten the Libyan people during a televised statement that he issued during the ongoing revolution. That very source also confirmed the news about him being literally manhandled and roughed up soon after his arrest.

Why should we have official an holiday on Labor Day... we should work like all the other laborers across the world

What do you want us to do on Labor Day?

Oh man, Kumar is so tired because he always punches our cards ... but we should still be granted more holidays

Frankly, work is so boring ... we need more holidays especially on Labor Day... we want to relax in our chalets

Controversies surrounding circulation of the holy Quran Shamlan Yousef Al-Eisa

he British magazine The Economist published in its latest issue an article surrounding a controversial issue which erupted in Germany soon after an Islamist group circulated free copies of the holy Quran to citizens across the length and breadth of the country. That very article also indicated that in Germany 200,000 copies of the holy Bible are usually distributed every year but when the Islamist Salafi Group decided to distribute 300,000 copies of the holy Quran to encourage people to discover Islam, that action was not only opposed by many German citizens but condemned by cultural, political and security groups as well. But when another group decided to circulate 25 million copies of the holy Quran to citizens of various European countries for free, European politicians and intelligence officials imposed immense pressure on printing and publication houses not to print copies of the holy Quran. After immense pressure was imposed on those houses to stop printing, they simply succumbed to those demands and stopped any further publications. In fact, contrary to popular perception, most German critics averred that they personally did not have any problems nor did they nurse any animosities over printing or circulating copies of the holy Quran for free

Explaining and presenting the tenets of Islam should be strictly executed through urban and civil methods.

but surely nursed their reservations over who and how those advocators intended to go across the length and breadth of the country to circulate copies of the holy Quran. They also raise an alarm over the fact that those copies would, in all probability be distributed by members of a Salafi movement which is headed by an extremist person known as Ibrahim Abu Naji who was born in the German city Kowloon. Ibrahim on the other hand, has already been referred to a court after being accused of stirring hatred and violence against Christians and Jews but was released some time later simply because the court was not in possession of any circumstantial evidence against him. A German MP was later quoted as saying that although he personally did not perceive any problems over the circulation of copies of the holy Quran; other German politicians voiced their concerns over the establishment of a religious state in Germany hence its realization would surely violate the very concept of that civil state. These politicians nurse the opinion that

these Islamist extremists in Germany, over the passage of time, will surely question why citizens are not given the right to convert their faiths to a religion of their choice in the event that they want to. It is now common knowledge that religious extremism has become a global phenomenon and Muslims represent an effective number of populations in the Western states. It is also common knowledge that their numbers are now increasing rapidly due to widespread proliferation and immigration. They are, in fact, an indispensable part of the countries that they live in and hence are required to maintain overall security as well as the best interests of those countries that they adopt as well. They are also required to mingle and treat their brothers who believe in other religions with respect; and not isolate themselves from those very societies that they have welcomed them so graciously. This is a give and take situation and hence, we as Muslims must respect the laws of the adopted countries too and live in peace and harmony.

Kumar .... Bring me a mug of tea

Deduct his salary ... deport him to his country ... he is in violation of residency laws .... Let him be an example for others not to act like that!!!

It is Labor Day.... no tea .... I want to take a break

mthallab@alwatan.com.kw

Mohmmed Thallab

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views

wednesDAY, may 2, 2012

France and the Netherlands strike back

The ECB will fight to keep average inflation on target, and that northern Europe - especially Germany - will not counter higher domestic inflation as long as price stability is maintained.

Jean Pisani-Ferry Project Syndicate

n 2005, France and the Netherlands both voted no to a constitutional treaty for the European Union, derailing years of integration efforts. They seem to be poised to disrupt Europe once again. On April 21, the Dutch coalition government collapsed, after right-wing populist Geert Wilders refused to endorse the spending cuts needed to limit the budget deficit to 3 percent of GDP. The next day, candidates who advocated backtracking on European integration captured one-third of the vote in the first round of the French presidential election. On May 6, France is expected to turn left and elect François Hollande, who questions the EU’s German-inspired fiscal compact, agreed last December, and has called for Europe to emphasize growth. These are the first skirmishes in a highly significant debate for Europe. The debate revolves around two major issues: austerity and integration. Start with austerity. The question here is not whether deficits should be reduced. They must be, given the dire state of European public finances, and also because the countries whose competitiveness deteriorated during the first decade of monetary union must tighten fiscal policy in order to deliver the necessary adjustment of wages and prices. Indeed, it is revealing that, as eurozone countries with severe external imbalances at the onset of the crisis have benefited from the European Central Bank’s wholesale liquidity provision, they have reduced their currentaccount deficits much less than non-euro countries in a similar situation. Germany, the archadvocate of austerity, is right on this point. The problem is that austerity has perverse effects. Private and public deleveraging can hardly take place at the same time, unless trade partners generate demand for exports. Recession and price deflation reduce tax receipts and worsen the dynamics of public debt, threatening the return to sustainability. Moreover, deficit targets lead governments to respond to recessions by doubling down on austerity, generally without much regard for the adverse supply-side effects. So there is a need to approach austerity and rebalancing strategically. And here, the EU has made three mistakes. First, finance ministers tried to reassure markets last October by demonstrating toughness and endorsing headline, instead of cy-

A photographer takes a picture of the skyline during a guided tour of the construction site of the new headquarters of the European Central Bank (ECB) in Frankfurt, April 26, 2012. The European Central Bank plans to move its headquarters in early 2014 since there is a need to approach austerity and rebalancing strategically, analysts said. (Reuters)

clically adjusted, deficit targets. This may be justified for a country on the verge of losing access to capital markets, but not for a country with relatively low debt and a moderate deficit. Ministers should change course and revert to their original 2009 commitment, which was to plan consolidation efforts and adhere to them through fluctuations and shocks. Second, the eurozone still shies away from a comprehensive approach to its internal rebalancing. Price competitiveness is a relative concept, not an absolute value, yet the policy discussion still ignores this basic fact. This is paradoxical, because the ECB’s policy framework provides clear guidance. The ECB is committed to 2 percent inflation in the eurozone as a whole, which implies that lower wage and price increases in southern Europe arithmetically mean higher wage and price increases in northern Europe. The wider the gap between the two, the sooner the rebalancing will be achieved.

It is time to say loud and clear that the ECB will fight hard to keep average inflation on target, and that northern Europe - especially Germany - will not attempt to counter higher domestic inflation as long as price stability is maintained in the eurozone as a whole. This would help significantly in mapping out a sensible rebalancing strategy. The third mistake is one of omission: as ECB President Mario Draghi recently said, Europe has a fiscal compact, but lacks a growth compact. To be sure, there are no quick fixes: headline-grabbing initiatives often fail to measure up to the challenge of reviving growth. Nevertheless, serious discussion is needed concerning how to use the EU budget to enhance economic performance, rather than for redistribution only; how to foster pro-growth reforms at the national level; and how to boost investment in the periphery countries’ tradable sectors. A credible growth compact would help to

Keyboard Cops

overcome immediate hurdles. After all, the post-war Marshall Plan was so successful not because of its size, but because it helped to counteract zero-sum games and self-fulfilling pessimism. That is a lesson to keep in mind today. But austerity is not the only dimension of the debate. Developments over the last two years have exposed the weaknesses of a barebones monetary union based only on a single monetary policy and fiscal discipline. While reforms enacted in the wake of the Greek crisis have equipped the eurozone with crisis-management capabilities, more is needed to restore confidence, ensure financial stability, and ward off financial fragmentation. A key characteristic of the European crisis has been the strong correlation between banking stress and sovereign distress. Time and again, banks’ woes have affected governments’ borrowing costs, and concerns over governments’ solvency have affected banks’ balance sheets. This major potential threat to financial sta-

bility has been alleviated, but not eliminated, by the ECB’s large-scale provision of liquidity. The recent re-emergence of concerns about Spain has shown that the problem has not gone away. Systemic reforms to resolve the problem all involve significant further integration: joint issuance of government bonds that play the role of safe asset in banks’ portfolios, a “banking union” with a common regime for deposit insurance, supervision, and crisis resolution - or both. Either one involves risk-sharing among eurozone members. In France, the Netherlands, and elsewhere, many citizens view Europe as a threat to their way of life. Telling them that the euro is an unfinished construct that requires even more commitment is a hard call for politicians. The question for the coming months is whether European leaders will have enough political capital to embark on further reforms and make the case for them to angry publics. If not, it is to be feared that they will agree only on platitudes and hope for the best. * Jean Pisani-Ferry is Director of Bruegel, an international economics think tank, Professor of Economics at Université ParisDauphine, and a member of the French Prime Minister’s Council of Economic Analysis.

Microsoft enters the e-book wars

Naomi Wolf Project Syndicate

Felix Salmon

Reuters

lmost no one had read the Cyber Intelligence Sharing and Protection Act (CISPA) before it was rushed through the United States House of Representatives in late April and sent to the Senate. CISPA is the successor to SOPA, the “anti-piracy” bill that was recently defeated after an outcry from citizens and Internet companies. SOPA, framed by its proponents in terms of protecting America’s entertainment industry from theft, would have shackled content providers and users, and spawned copycat legislation around the world, from Canada and the United Kingdom to Israel and Australia. Now, with CISPA, the clampdown on Internet freedom comes in the guise of a bill aimed at cyber terrorism that should give Internet entrepreneurs - and all business leaders - nightmares. And yet, this time, major Internet and technology companies, including Facebook and Microsoft, supported the bill, on the grounds that it would create a clear procedure for handling government requests for information. Microsoft, at least, belatedly dropped its support after recognizing that the law would allow the US government to force any Internet business to hand over information about its users’ online activities. But the bill is far more alarming than that. For example, “the head of a department or agency of the Federal Government receiving cyber threat information...shall provide such cyber threat information to the National Cybersecurity and Communications Integration Center of the Department of Homeland Security.” No actual threat need be made. And what counts as “threat information” is defined so broadly that it can mean anything. “Notwithstanding any other provision of law,” the government may rely on “cybersecurity systems to identify and obtain cyber threat information.” The vague concept of “cyber threat information” does not just let DHS investigate anyone. By including information pertaining to “a vulnerability of a system or network of a government or private entity,” and the “theft or misappropriation of private or government information, intellectual property, or personally identifiable information,” the bill appears to target whistleblowers and leakers, and threatens investigative journalism. The respected Internet technology site Techdirt has called the bill “insanity”: “CISPA can no longer be called a cybersecurity bill at all.The government would be able to search information...for the purposes of investigating American citizens with complete immunity from all privacy protections as long as (it) can claim someone committed a ‘cybersecurity crime.’” Indeed, the DHS may look through data transmitted online without restraint, regardless of what it ultimately finds. And, in this respect, business leaders who believe that this bill is aimed at terrorists - or “at most” at the domes-

John Brennan, Assistant to US President Barack Obama for Homeland Security and Counterterrorism, speaks about terrorist financing at the Treasury Department in Washington, DC. Brennan, Obama’s top adviser on terrorism brushed aside criticism by the president’s political opponents that he had exploited the anniversary of Osama bin Laden’s killing for political gain while speaking on ABC television’s “This Week” program on April 29, 2012. (AFP)

tic activists and documentarians who can make it harder for them to operate - should be careful about what they wish for. Indeed, because the definition of cyberterrorism is so broad and subjective, US business leaders who are pushing for CISPA risk exposing themselves to the DHS’s power to scrutinize their personal lives, subpoena their bank records, and disrupt their electronic communications. And the law would give the DHS similar control over the personal and financial lives of anyone who does business in the US or with American companies - a power that the US government has already tried to assert by issuing a subpoena for Icelandic legislator Birgitta Jonsdottir’s personal bank records. Everyone has secrets: love affairs, substance-abuse problems, mental-health diagnoses, heterodox sexual preferences, or questionable discussions with accountants. In a strong civil society, these personal matters properly remain private. In a surveillance society, they become leverage. I am fearful of the effects of unrestrained domestic surveillance for specific reasons: I worked in two US presidential campaigns, and saw firsthand the standard tactics - nonviolent but still mafia-inflected - of high-level politics. There was no shortage of privately contracted surveillance and wiretapping. Campaigns routinely planted spies - interns, household staff, or even lovers - in the opposing camp, and devoted vast numbers of man-hours to combing through

private records in opposition research. The results were then regularly used behind the scenes to bully, intimidate, and coerce targets. Most of these “scandals” never saw the light of day - the goal was pressure, not disclosure. CISPA would give the same power to the DHS. America’s business leaders may think that they are immune, but the bill’s definition of “a threat” is so vague - with no distinction between a “threat” to the Internet and any random, even metaphorical “threat” on the Internet - that the DHS may keep tabs on anyone who says something that irks someone in a cubicle. If CISPA enters into US law, alongside the recently enacted National Defense Authorization Act - which gives the government the power to detain any American for anything forever fundamental civil liberties will be threatened in a way that no democracy can tolerate. And because so much of the freedom of the Internet around the world derives from the freedom of expression that until recently characterized the US, enactment of CISPA poses a similar threat around the world. The good news is that President Barack Obama has vowed to veto CISPA. The bad news is that he made - and then broke - a similar vow on the NDAA. * Naomi Wolf is a political activist and social critic whose most recent book is Give Me Liberty: A Handbook for American Revolutionaries.

ou think markets are efficient? Check this out: Barnes & Noble stock opened 2012 at 14.75 US dollars per share and falling fast; by January 5, the opening price was just $9.50. At that price, the entire company was worth just $550 million, and there was a very real fear that the entire company could go to zero, following in the footsteps of Blockbuster and other real-world retailers selling content more easily bought online. Today, of course, all that has changed. Barnes & Noble has sold a 17.6 percent stake in its digital and college businesses to Microsoft, for $300 million - a deal which values B&N’s remaining 82.4 percent stake at $1.4 billion. And while the $300 million is staying in the new joint venture and therefore not available to help the bookstore chain with cashflow issues, the news does mean that Barnes & Noble won’t need to constantly find enormous amounts of money to keep up in the arms race with Amazon. That’s largely Microsoft’s job, now. This deal is a bit like one of those highprofile investments by Warren Buffett in a distressed company: a vote of confidence by someone powerful enough to be able to fund the struggling firm through its troubles. Except in this case, the Microsoft investment is much bigger than that, since it comes with deep integration into the Windows 8 operating system. Barnes & Noble no longer needs to sell Nooks, or persuade people to download the Nook app on their iPad: everybody with a Windows 8 device will have the Nook reader built-in. The e-book market is still young; if Amazon continues to be seen as the enemy, there’s no reason in theory why the Nook shouldn’t become just as popular, if not more so. It’s true that you can’t read Kindle books on your Nook, or vice versa, but over the long term, we’re not going to be buying Kindles or Nooks to read books. Just as people stopped buying cameras because they’re now just part of their phones, eventually people will just read books on their mobile device, whether it’s running Windows or iOS or something else. And that puts Amazon at a disadvantage: the Windows/Nook and iOS/iBook teams will naturally have much tighter integration between bookstore and operating system than anything Amazon can offer. All of which has lit a real fire under the Barnes & Noble stock price, which

All those shorts have lost a fortune today, and they’re going to have to cover sooner rather than later, driving the price up artificially.

opened at $25.79 this morning and looks as though it’s going to close somewhere between $20 and $25 per share. That’s an increase of much more than $300 million in market capitalization, and there’s upside, too: the valuation of the parent is now equal to the value of its stake in the subsidiary. So if the subsidiary rises in value, or if the rest of the company is worth anything at all, then the shares can rise further from here. The one thing you can certainly expect, though, is volatility. Because Barnes & Noble is no ordinary stock. There are 60.2 million shares outstanding, but of that total the free float - the shares freely traded on various stock exchanges - is just 26.82 million. Meanwhile, at last count, the short interest in Barnes & Noble the number of shares which had been borrowed by people selling them in the expectation that they would fall - was a whopping 19 million shares. This, ladies and gentlemen, is what is commonly known as a short squeeze. All those shorts have lost a fortune today, and they’re going to have to cover sooner rather than later, driving the price up artificially. So at least for the next few days, it’s probably worth taking any market valuation for Barnes & Noble with a bit of a pinch of salt: technical factors are likely to overwhelm fundamentals until the shorts have retreated, licking their wounds. After that, however, we finally have a real three-way fight on our hands in the ebook space, between three giants of tech: Apple, Amazon, and Microsoft. And that can only be good for consumers. * Felix Salmon is a Reuters correspondent. The views expressed here are his own.

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Lloyds bank edges back into quarterly profit

BUSINESS

wednesdAY, may 2, 2012

m ar ket watc h KUWAIT 0.49% 6399

DUBAI

QATAR

OMAN

0.5% 1624

0.4% 8672

0.6% 5833

CAPITALS: Britain’s state-rescued Lloyds Banking Group on Tuesday announced a return to net profit in the first quarter from a year earlier as cost cutting and lower bad debts offset rising compensation claims. Profit after tax stood at 10 million Sterling pounds (16 million US dollars, 12 million euros) in the first three months of 2012, LBG said in a statement, adding that it had set aside another 375 million pounds to compensate clients who were mis-sold insurance. See page 11

OIL MARKETS

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EGYPT

0.0% 2505

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0.2% 7545

US Crude $104.73 $0.14 London Brent $118.93 $0.54 Kuwait Crude $115.97 $0.00 Information Courtesy: KAMCO

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CMA cancels delisting decision of Wataniya Airways from bourse Wataniya Airways discusses reoperation options with Civil Aviation Compiled by Al Watan Daily

KUWAIT: The Complaints Committee at the Capital Markets Authority (CMA) accepted a plaint made by Wataniya Airways and revoked a decision previously made by CMA to write the commercial airlines’ shares off of the Kuwait Stock Exchange (KSE). Wataniya Airways’ Board of Directors Thamer Arab told the press, on Tuesday, that his company submitted a pliant outlining the many attempts made by the airline company to correct its financial situation and eliminate all obstructions that hinder its performance. The company’s Board of Directors called, many times, to hold meetings that aimed at increasing the airlines capital. However, these meetings did not see the light due to lack of quorum. The Complaints Committee, after a comprehensive and constructive meeting with the airline company, was convinced that CMA should give the private carrier a chance to defend itself before deciding to delist it from KSE. In more recent news, Chairman of Wataniya Airways Thamer Arab met Head of Civil Aviation Fawwaz Al-Farah and Director General, Bader Butiban to discuss the options of reoperation and to reach a final decision regarding the negotiations with Aviation Lease and Finance Company (ALAFCO) and other creditors to deliberate possible restructuring and stop losses. Observers believe that it is important for the company’s general assembly to meet to limit accumulating losses through either decreasing or increasing the company’s capital. The general assembly should also discuss the company’s legal status after the Capital Market Authority Commissioners Council decided to cancel the enlisting of the company’s stocks in the bourse, since its trading was suspended for over six months. Observers added that the most formidable challenges that face the company are the method

Indian vendors carry baskets of hand-made artificial flowers in Amritsar on May 1, 2012. India’s exports in March fell for the first time since the 2009 global financial crisis as demand weakened in the United States and Europe, further clouding the outlook for the country’s balance of payments. (AFP)

that will be followed in its restructuring; especially that the company is heavily indebted and its capital is shrinking, and the demands made by creditors who are entitled to collect 30 million Kuwaiti dinars. In addition, the company faces a law suit filed by 374 employees who demand the company to pay them compensations worth five million Kuwaiti dinars, and ALAFCO that is a party in the company’s negotiations to finance the purchase and leasing of aircrafts. ALAFCO demands the company pays KD 70 million, which is the total value of the contract for leasing three Airbus A320 aircrafts for seven years. However, the observers said that in light of the company’s financial status, ALAFCO is willing to reach a fair settlement, where Wataniya Airways will pay

due money for the previous leasing period until the operations were suspended, in addition to the cost of redesigning and restructuring the aircrafts’ interior, based on the specifications required by the new lessee. ALAFCO might also scrap off future leasing costs concerning those aircrafts as per the contract, if the payment will be in cash instead of rescheduling. If both parties agree on this settlement, due payments will be worth KD 4.8 million instead of KD 25.5 million. Regarding Burgan Bank’s due payments that reached KD 15 million, the bank has seized the company’s shares in UPAC, which are 62.28 percent and mortgaged by Burgan Bank in return for the opportunities that it had received. Meanwhile, Kuwait International

Bank (KIB) received a court order to collect its debts that are worth six million dinars. Kuwait Aviation Services Company (KASCO) that is owned by Kuwait Airways demands debts worth over one million dinars for food catering and ground service for aircrafts at Kuwait Airport. KAFCO also demands Wataniya Airways to pay five million dinars in return for supplying its aircrafts with fuel during the past period. In addition, there is KD 750,000 that should be paid for customers who booked tickets through travelling agencies. Those agencies will pay the money back to customers. However, tickets that were booked through the company’s offices or the internet are worth one million dinars.

KIPCO achieves Q1 net profit of KD 8.5 million KUWAIT: The Kuwait Projects Company (KIPCO) announced in a press release on Tuesday, net profit of 8.5 million Kuwaiti dinars (30.6 million US dollars), or 6.51 Kuwaiti fils ($2.34) per share for the first three months of 2012 - an increase of five percent compared to the KD 8.1 million ($29.2 million) profit, or 6.49 fils ($2.34 cents) per share, reported for the same period last year. KIPCO’s total revenues for the first three months of 2012 increased by 16 percent to KD 108.4 million

($390.3 million) from KD 93.2 million ($336.2 million) in the first quarter of 2011. The company also reported a year-on-year rise in operating profit to KD 24.1 million ($86.8 million) for the first quarter of 2012 - an increase of 32 percent from the KD 18.2 million ($65.6 million) in the first quarter of 2011. KIPCO’s consolidated assets increased in the first quarter of 2012, to KD 6.1 billion ($21.9 billion) from KD 5.8 billion ($20.8 billion) for the year end 2011.

Real estate sales total KD 246 million in March

KUWAIT: Real estate sales in March totaled 246 million Kuwaiti dinars, almost flat year-on-year (y-o-y), the National Bank of Kuwait (NBK) said in a report. Total real estate sales continue to be supported by solid residential and investment figures, but are being hindered somewhat by a sluggish commercial sector, it said. Residential sector sales were KD 147.4 million in March, almost unchanged month-to-month (m/m), but up a solid KD 13.5 million (10 percent) y-o-y. Unlike the first two months of the year, the uptick in sales was due to a larger average transaction size (as opposed to higher number of transactions). About 56 percent of spending in this sector went into buying plots of land, with the rest going into buying finished homes, which is in line with the trend for the past year or so, the report added. Residential sales made up 60 percent of total sales for the month and should continue to do well in the near future, as they appear backed by solid demand. The investment sector saw KD 93.4 million in sales during March and averaged over KD 100 million a month in Q1 2012. Most sales in this sector go into buying finished apartments or buildings intended for rent (about 78 percent in March), while the rest are the purchase of plots of land intended eventually for the same purpose. Most apartments and buildings sales for the

month took place in the Hawalli and Ahmadi governorates, while most plots sales were split between Ahmadi and the Mubarak Al Kabeer governorates. Total sales for March in that sector increased 10 percent y/y, primarily due to a 35 percent y/y jump in the number of transactions. The commercial sector recorded KD 5.3 million in sales, split between two transactions, compared to KD 30 million in March 2011. Month to month volatility is common in this sector and does not necessarily indicate a larger down trend, according to the report. The Savings and Credit Bank (SCB) disbursed KD 10.6 million in loans during March. The majority (62 percent) of the money will go into constructing new houses, about 22 percent will be used to buy existing homes, and the remainder will go into additions and renovations. The SCB also approved KD 15.1 million, spread out over 294 loans. Similarly, 61 percent of the approved loans will go into financing new house constructions. Both approved and disbursed loans saw y-o-y increases in value, indicating healthy demand in the residential sector. March saw strong sales in the largest two sectors, and would have recorded overall better results had it not been hindered somewhat by a lagging (and volatile) commercial sector, the report concluded. -KUNA

Tariq Abdulsalam, KIPCO’s Chief Executive Officer Investments, said KIPCO’s first quarter results were in line with the expectations outlined by the company at its recent Investor’s Forum, “At our Shafafiyah Investor’s Forum in April, we said we expected growth from our financial services and media businesses during this year. This expected growth is now beginning to emerge and its impact is reflected in our first quarter results.” Shares in the company closed at 325 Kuwaiti fils on Tuesday.

UIC posts net profits of KD 2.65 million for Q1 2012

KUWAIT: United Industries Company (UIC), a member of Kuwait Projects Company Group (KIPCO), posted net profits of 2,648,662 Kuwaiti dinars for first quarter (Q1) of 2012. This was announced in a press release on Tuesday. Chairman and chief executive officer (CEO) of UIC Essa Khalid Al-Essa said that UIC Board of Directors approved on May 1, 2012 the financial statements of the company for quarter ended 31 March 2012, and that the Company posted net profits of KD 2,648,662 compared with net profits of KD 1,238,911 for same period of 2011. Earnings per share for the first quarter stood at 5.45 fils per share, compared with earning per share of 2.51 Kuwaiti fils for first quarter of 2011. “Share of income from associates reached KD 3,994,962 because Share of income from SADAFCO (3 months January to March) increased by 27 percent (KD 0.26 million) to KD 1,229,309 compared to KD 967,460 during last year same period, mainly due to better sales and operational profit during the quarter. Also, Share of income from QPIC during the period reached KD 2,765,653.” said Al-Essa. At the end of first quarter, the total asset as on 31, March 2012 is KD 186 million up by 4.4 percent (KD 7.9 million) compared to KD 178 million as on Dec. 31, 2011. The increase in total asset is mainly attributable to increase in long term investments (associates).

Buy 0.4495 Sell 0.4504

Buy 0.003469 Sell 0.003476

Buy 0.0739 Sell 0.074

Buy 0.07546 Sell 0.07552

Buy 0.07620 Sell 0.07612 Buy 0.7352 Sell 0.73582

Buy 0.005284 Sell 0.005279 Buy 0.006575 Sell 0.006562

Prices in Kuwaiti fils as of May 1, 2012 Courtesy: KAMCO

Kuwaiti crude at $115.97 Monday

KPC announces LNG prices for May KUWAIT: The price of Kuwaiti crude oil came to 115.97 US dollars per barrel (pb) in transactions Monday, unchanged from Friday, reported Kuwait Petroleum Corporation (KPC) on Tuesday. Prices of crude are experiencing much flux nowadays amid the uncertainty which predominates the market. Negative growth outlook and forecasts are weighing heavily on the market. Negative factors influencing the market last week included pessimism in Europe amid increasing cost of Spanish and Italian lending. Standard and Poor’s credit rating agency had four days ago cut Spain’s rating to BBB-plus and added a negative outlook. It said the country is on a course of economy shrinkage for 2012 as well as 2013. In more news, Kuwait Petroleum Corporation (KPC) announced on Tuesday prices of the Liquefied Natural Gas (LNG), propane and butane, for May. KPC said in a statement propane would be sold for $810 per metric ton in the current month, a decrease of $180 compared to April’s $990 per metric ton. Butane will be sold for $859 per metric ton during May, with a fall of $100 compared to $995 per metric ton last month. The prices of propane and butane are affected by international oil prices and rates of the major currencies, namely the US dollar. Rates of the gas are also influenced with political and security upheavals throughout the world, namely events in the Middle East, amid fears over possible shortages of crude supplies from the region to the world markets. Propane and butane are used for cooking, heating and production of petrochemical substances. -KUNA

Gulf Bank reports Q1 net profit KD 7.4 million

KUWAIT: Gulf Bank announced in a press release a net profit of 7.4 million Kuwaiti dinars for the first quarter of 2012, against KD 3.2 million in the previous quarter and KD 9.8 million for the same period last year. The Bank further increased the general reserve by KD 14 million to reach KD 104 million, in line with its strategic plan to create a “fortress balance sheet” and to further its capacity to grow and expand. The Bank’s Profit before provisions amounted to KD 29.8 million, an increase of 14 percent and up from KD 26.1 million in the corresponding period of 2011. As of end of March 2012, the Bank’s total assets reached KD 4,907 million, deposits KD 4,139 million whilst total shareholders’ equity measured up to KD 437 million. Commenting, Mahmoud Al-Nouri, Gulf Bank’s Chairman said, “This quarter’s results reflect the positive impact of our customercentric strategy of providing the best and fastest banking services, as well as the efforts by the Bank’s business groups, including Consumer Banking, Corporate, and International Banking. However, we continue to be cautious in our approach, and therefore we will maintain a balance sheet which we believe is both strong enough to allow expansion, and will protect the Bank against unforeseen changes in the market. “In 2011 we witnessed the completion of the Bank’s strategic plan, which aimed at building a fortress balance sheet, focusing on our core competencies, fostering the Bank’s management and technical abilities, upgrading internal control systems in the area of risk management, and refining the Bank’s marketing plans. For our next development phase, we have set ourselves a new strategy over the next four years - up to 2015 - which is focused on expanding the Bank’s business,” stated Al-Nouri.

Bahrain’s Arcapita unit files for bankruptcy protection DUBAI: A unit of Bahrain investment house Arcapita has filed for bankruptcy protection in the United States, the company said in a statement. Falcon Gas Storage Company, a non-operating subsidiary of Arcapita, also intends to file a motion for joint administration with its parent company for the ongoing Chapter 11 restructuring, it said in the statement late on Monday. In March, Arcapita became the first Gulf entity to file for Chapter 11 bankruptcy protection in the US after it was threatened with legal action if it did not repay a hedge fund in full. Falcon’s filing is to address liabilities of its 2010 sale of NorTex Gas Storage Company. “As we have said from the very beginning, our goal in this process is to restructure our balance sheet and reorganize our business to maximize recoveries for all creditors and other constituencies,” Atif A. Abdulmalik, Arcapita’s chief executive said in the statement. “We believe the actions we are taking with respect to Falcon are a logical step in this process but we do not anticipate any similar actions with our operating subsidiaries or portfolio companies.” Arcapita’s debt maturity had been regarded as one of the most challenging liabilities facing the region in 2012, given its poor cash position and the difficulty of selling assets to raise cash in a global market pounded by Europe’s debt crisis. -Reuters

ALWATAN DAILY

BUSINESS

wednesDAY, may 2, 2012

Oil holds near $119, China offsets US, Europe Iraq oil exports rise to 2.508 million barrels per day in April

CAPITALS: Oil hovered around 119 US dollars a barrel on Tuesday as economic expansion in China helped counter a sluggish US economy and bubbling euro zone debt crisis that may depress demand for fuel. China’s factory sector grew at a slightly higher rate in April from the previous month, a sign its economy may have bottomed out in the first quarter. The world’s no. 2 oil consumer is expected to account for nearly half of global incremental oil demand this year. Brent crude slipped 47 US cents to $119 a barrel by 1112 GMT. US crude eased 30 cents to $104.57. “China is still in an expansionary phase and we saw a slight tick-up on the month,” said Ben Le Brun, a Sydney-based market analyst at OptionXpress. But debt woes in Europe continued to cast a pall over the region’s economies, with Spain, the fourthlargest economy in the euro zone, sinking into recession in the first quarter. In the United States, where the economy slowed going into the second quarter, spending increased only modestly last month and a gauge of Midwest business activity fell sharply. Higher Organization of Petroleum Exporting Countries (OPEC) output and expectations for a sixth

weekly rise in US crude inventories could also weigh on prices. “OPEC pushing production to the limit in the weakest demand quarter is clearly a recipe for lower prices,” said David Hufton of oil brokers PVM in a report. OPEC’s April output was at its highest since 2008 as extra crude from Iraq and Saudi Arabia helped make up for tighter sanctions on Iran, whose own oil output sank to the lowest in two decades, a Reuters survey found. In more news, Iraq’s crude oil exports rose to 2.508 million barrels per day (bpd) in April from 2.317 million bpd in March as new offshore export terminals helped increase sales, the head of the State Oil Marketing Organization (SOMO) said on Tuesday. Iraq aims to double oil output over the next three years as it recovers from decades of war and sanctions and is expected to provide the world’s largest expansion in oil capacity in 2012 as new outlets open. The opening of two new floating single point mooring (SPM) terminals has eased export constraints and boosted oil exports significantly. In April, exports from the southern city of Basra rose to 2.115 million bpd from 1.917 million bpd in March, Falah Alamri told Reuters. Shipments from the northern fields around Kirkuk were at 393,000 bpd for the month, of which 6,000 bpd was exported to Jordan via trucks, he said. Iraq Oil Minister Abdul-Kareem Luaibi said last Wednesday he expected oil exports for April to be more than 2.4 million barrels per day. -Reuters

FILE- A motorist pumps petrol on April 16, 2012 in Auckland, New Zealand. Oil hovered around 119 US dollars a barrel on Tuesday as economic expansion in China helped counter a sluggish US economy and bubbling euro zone debt crisis that may depress demand for fuel. (AFP)

BP quarterly net profit slides 18% on lower output CAPITALS: British energy giant BP said Tuesday that group net profit sank 18 percent in the first quarter as output was hit by the sale of assets to meet its massive Gulf of Mexico disaster costs. Earnings after tax fell to 5.92 billion US dollars (4.46 billion euros) in the first three months of 2012 from $7.25 billion in the 2011 first quarter, BP said in a results statement. Adjusted earnings, which strip out movements in the value of inventories and other non-operating items, slid 12.8 percent to $4.8 billion. That fell short of analyst forecasts for $5.10 billion, according to Dow Jones Newswires. In reaction, BP shares dropped by more than three percent in morning deals on the London Stock Exchange. “BP has failed to take advantage of the higher oil price,” said equity analyst Keith Bowman at Hargreaves Lansdown Stockbrokers. “For BP, the Gulf of Mexico accident continues to overhang, with asset sales impacting production.” The performance contrasts with that of major rival Royal Dutch Shell, which reported last week a first quarter adjusted net profit up 16 percent to $7.28 billion, boosted by strong oil prices and rising output. BP on Tuesday said its total production declined three percent to 3.47 million barrels of oil equivalent per day. That compared with 3.58 million in first quarter 2011 and undershot expectations of a drop to 3.46 million. Revenues rose 9.0 percent to $96.70 billion, helped by higher oil prices. BP has now sold $23 billion of assets as part of its ongoing $37.2-billion divestment program as it seeks to meet the bill for the Gulf of Mexico disaster. During the first quarter, BP sold businesses in Canada, the United States and the North Sea. “We have made a good start against our strategic priorities for 2012,” BP chief executive Bob

Dudley said in the earnings release. The American boss added that BP had gained “significant new deepwater and US shale exploration acreage” in the first quarter, while five deepwater rigs were at work in the Gulf of Mexico. “This operational progress will underpin the financial momentum we expect to come through as we move into 2013 and 2014,” Dudley noted. The company’s fortunes were ravaged two years ago by an explosion on the BP-leased Deepwater Horizon rig that killed 11 workers, sent mil-

lions of barrels of oil spewing into the sea and left it with huge compensation costs. The blast on April 20, 2010, sparked what was been widely acknowledged to be the worst environmental catastrophe in US history. However, the troubled energy major returned to profit last year with net earnings of $23.9 billion. In late morning deals, BP’s share price sank 3.39 percent to 429.92 pence on London’s FTSE 100 index of leading companies, which was 0.28 percent higher at 5,753.70 points. -AFP

FILE - A BP logo is seen at a petrol station in London, in this file picture taken Nov. 2, 2010. British energy giant BP said Tuesday that group net profit sank 18 percent in the first quarter as output was hit by the sale of assets to meet its massive Gulf of Mexico disaster costs. (Reuters)

UAE’s Etihad seeks more routes with Aer Lingus stake

DUBLIN: Etihad Airways has bought a three percent stake in Irish airline Aer Lingus as a precursor to a commercial tie-up that could help Abu Dhabi’s flagship carrier gain more European routes to catch up with Middle Eastern rivals. The deal also positions state-owned Etihad as a potential buyer of the indebted Irish government’s 25 percent stake in Aer Lingus, which it is considering selling as part its international bailout. After months of speculation about a possible deal, the airlines said on Tuesday that Etihad’s stake purchase reflected “its desire to forge a commercial partnership,” with Aer Lingus. Aer Lingus said talks with Etihad, which operates 10 flights a week between Abu Dhabi and Dublin since launching the service in 2007, so far have centered around a code-share agreement and have been extended to include cost savings through joint procurement. Aer Lingus said Etihad had told the Irish carrier that it did not intend to increase its stake pending the outcome of the talks. Eight-year-old Etihad is attempting to gain scale quickly - particularly in Europe - as it bids to catch up to rivals such as Dubai government-owned Emirates and Qatar Airways. In December, it raised its stake in Air Berlin to nearly 30 percent from just under three percent, paying approximately 73 million euros and lending the carrier $255 million. In return, Etihad received a code-share agreement giving it access to Air Berlin’s dense European short-haul route network and to the German capital ahead of Emirates, one of the fastest-growing carriers in the world, which has been lobbying for years to get into Berlin. Etihad has already flagged its interest in the government’s stake in Aer Lingus, with Chief Executive James Hogan telling an Irish newspaper in February that the group would be open to talks. “The addition of Etihad to the carrier’s equity base provides the Irish government with an additional potential bidder for its 25 percent stake when that is offered for sale,” analysts at broker Bloxham said on Tuesday. But analysts said Etihad would likely want to resolve uncertainty over whether Aer Lingus may eventually have to contribute to a pension deficit that rose to 700 million euros ($926.49 million) at the end of 2011. “The reality is that they (Etihad) are going to want to wait to see the pension issue cleared up first before they begin to act,” said Brian Devine at NCB Stockbrokers, who anticipates it to be resolved during the year. “The state is definitely going to be involved at this stage in trying to bring the whole thing to a head,” he added. Rival airline Ryanair, which owns nearly 30 percent of Aer Lingus, warned in a separate statement that if the government sold its stake to Etihad, this could result in a break-up of the Irish airline and a potential loss of its prize slots at London’s Heathrow Airport. Aer Lingus shares were up 1.7 percent at 1015 GMT in a thinly traded market that was 0.4 percent higher. -Reuters

Dubai Sukuk to fund airport expansion

DUBAI: Dubai will employ 1.25 billion US dollars raised through an Islamic bond last week to fund the expansion of its airport and sees no risk to repaying creditors at its flagship conglomerate Dubai World on time, a top Dubai official told Reuters on Tuesday. “We will use proceeds from the $1.25 billion Sukuk to fund Dubai International Airport expansion,” Sheikh Ahmed bin Saeed Al-Maktoum, a close advisor and uncle to Dubai’s ruler and a key figure in the emirate’s recovery from its 2009 debt debacle, said in an interview on the sidelines of a Dubai travel show. Sheikh Ahmed, a charismatic figure who has been the public face of Dubai in recent years, holds a host of top positions in the glitzy emirate including the chairman post at its largest bank Emirates National Bank of Dubai (NBD), Dubai World and at crown jewel Emirates airline. The emirate is steadily recovering from a 2009 debt crisis which saw Dubai World stun global markets with plans to delay repayment on $25 billion of debt. The conglomerate reached a deal in 2010 to repay lenders over five and eight years. Other state-linked firms are in the midst of restructuring debt. “We (Dubai World) are committed to the plan set in 2010. Dubai World and its companies are making excellent revenues and we expect the debt to be paid on time.There’s no need to extend debt when it falls due,” said Sheikh Ahmed, who also heads the Supreme Fiscal Committee. The emirate has been rehabilitating its reputation in the aftermath of the debt crisis, helped by a revival in trade and tourism and its safe-haven status amid the Arab Spring popular revolts. Dubai has long touted its position as travel hub and rapidly expanded its Emirates airline. The carrier, among the top 10 in the world by passenger numbers, and top customer of Airbus’ A380 superjumbo, expects 2011 profits to be better than those in 2010 despite higher fuel costs, Sheikh Ahmed said. Fuel costs were about two billion dollars last year, accounting for 40 to 43 percent of the airline’s costs, he added. The airline has a $500 million bond maturing in June. “The Emirates cash reserve is good. It’s excellent, I must say. We have four billion UAE dirhams in cash so we are capable of paying off the debt in June...but we’re still weighing options,” the airline’s chairman said. Investors are closely watching two significant maturities in 2012 from state-linked firms, Jebel Ali Free Zone (JAFZA) and DIFC Investments, which have to repay a combined $3.25 billion this year. The emirate’s five-year credit default swaps, used to insure against a sovereign default, have narrowed more than 85 bps since the start of this year, to around 358 bps, according to Thomson Reuters data. That is far below the 650 basis points level hit in late 2009 at the height of the crisis. -Reuters

Qatar says to spend $2 billion more on new airport

DUBAI: Qatar will spend an additional two billion US dollars on its new international airport at Doha to accommodate aggressive expansion by its airline, a top government official said on Tuesday. “The ultimate phase of the airport is estimated to cost another two billion dollars over the $15.5 billion,” Akbar al Baker, member of the steering committee for the airport’s development and chief executive of Qatar Airways, told reporters at a travel fair in Dubai. He said the original cost of the airport, which is scheduled to open in December, was $14.5 billion, which had risen to $15.5 billion to cover an increase in passenger numbers. The tendering process is underway for the new expansion, he said. The airport is being developed in three phases to be completed by 2015. Qatar Airways, which plans to fly to 170 destinations over the next three years, will see its fleet size exceed 120 aircraft this year, Baker said. The airline continues to grapple with high fuel prices despite hedging as fuel accounts for some 41 percent of its costs, he said. The airline has hedged its fuel upto 2015. He said Qatar Airways did not need acquisitions to increase its aircraft numbers or the frequency of its services as it could sustain its growth. “We will get into acquisition of airlines if they are well run and have shortage of equity,” he said, declining to comment on whether any airlines had been identified. Qatar’s government has allocated 40 percent of its budget between now and 2016 to infrastructure projects, including $5.5 billion for a deepwater seaport, $20 billion for roads and one billion dollars for a transport corridor in the capital, Doha. -Reuters

Moody’s dampens Games growth hopes

LONDON: Hosting the Olympics this year will give Britain’s struggling economy and its companies only a short-term boost, and the construction sector has already enjoyed most of the benefits, credit ratings agency Moody’s said on Tuesday. Britain, which went back into recession at the start of 2012, has spent nine billion Sterling pounds (14.6 billion US dollars) building the Olympics venues mostly in east London and the government had hoped the Games would help to revive the economy. Moody’s described the Games as a “huge marketing opportunity for corporates” but echoed the view of many economists that the Olympic effect was likely to prove fleeting. “Overall, we think that the Olympics are unlikely to provide a substantial boost to the UK economy and believe that the impact of infrastructure developments on UK gross domestic product (GDP) has probably already been felt,” says Richard Morawetz, senior credit officer in Moody’s Corporate Finance Group. “We expect the net impact of the Olympics on UK tourism will be positive overall, but far less than gross visitor numbers would suggest,” he added. The Olympics often attract sports fans at the expenses of higher spending business travelers and general tourists who decide to stay away for the duration. London will host the Olympics from July 27-Aug. 12, becoming the first city to stage the Games three times. Its last Olympics were the 1948 “Austerity Games” just after World War Two. Moody’s expects that corporate sponsors who bankroll the Games will benefit most. However, it does not believe that this alone will be enough to have a positive effect on their ratings. The International Olympic Committee has long-term agreements with 11 companies including Coca-Cola and McDonalds who pay a total of almost $1 billion for worldwide rights to sell their products on the back of the Games. London has raised a further 700 million pounds through one-off sponsorship deals with the likes of British Airways and Adidas. Britain is staging a series of industry summits around the Games to showcase its business expertise and try to win building contracts as major sporting events head to fast growing economies such as Russia, Brazil and Qatar. However, long delays at passport control at London’s Heathrow airport in recent days have risked undermining the message that Britain is “open for business”. Airlines using Heathrow would be prepared to pay higher landing fees to reduce long queues at the British hub before the Games in London, according to Willie Walsh, Chief Executive of British Airways’ owner IAG. Looking at individual sectors, Moody’s said construction may already face a slowdown as work for the Games, which have regenerated a rundown part of London, is almost finished. Moody’s noted that British construction activity had fallen by more than 10 percent since the start of 2008, although this would have been even worse had it not been for Olympic-related work. Balfour Beatty, Britain’s largest construction company which developed the Olympic swimming venue, has warned that jobs are at risk as work dries up. However, it is not all doom and gloom. The hotel sector can expect some positive revenue per room numbers during and around the events. However, Moody’s cautions that this could result in some weak year-on-year comparable results in 2013. Official Games hotel supplier InterContinental stands to benefit, while France’s Accor has also seen a positive impact from the Olympics. Advertising and marketing companies such as Britain’s WPP and Publicis Groupe of France were also set to reap rewards from a year featuring the Olympics, the European soccer championships in June and the US Presidential election in November. Such a combination occurs only every four years. -Reuters

ALWATAN DAILY

BUSINESS

WEDNESDAY, MAY 2, 2012

Lloyds bank edges back into quarterly profit CAPITALS: Britain’s state-rescued Lloyds Banking Group on Tuesday announced a return to net profit in the first quarter from a year earlier as cost cutting and lower bad debts offset rising compensation claims. Profit after tax stood at 10 million Sterling pounds (16 million US dollars, 12 million euros) in the first three months of 2012, LBG said in a statement, adding that it had set aside another 375 million pounds to compensate clients who were mis-sold insurance. The slender profit contrasted with a huge net loss of 2.43 billion pounds in the first quarter of 2011, when it was hit by far bigger compensation claims, the bank said in a statement. LBG, which is 40-percent owned by the government after a multi-billion-pound bailout following the 2008 financial crisis, has in total allocated 3.58 billion pounds to compensate clients mis-sold payment protection insurance (PPI). Lloyds, which stressed that the total cost of the PPI scandal could change, added that pre-tax profits fell nine percent to 288 pounds million in the reporting period. The bank also suffered as Britain sank into recession, with the economy contracting in the fourth quarter of 2011 and the first three months of this year. “Although our results reflected the sub-

dued UK economic environment, the actions we have taken to further reduce costs, strengthen the balance sheet and reduce risk ... are mitigating these effects and will position us well for future growth,” chief executive Antonio Horta-Osorio said in

Arab Bank Group quarterly net rises 10%

pounds of British state aid it received. It is presently in separate discussions with investment vehicle NBNK and financial services firm The Co-operative Group about a potential sale of the branches. Last year, Britain’s banks lost a high court appeal against tighter regulation of PPI, which provides insurance for consumers if they fail to meet repayments on a credit product such as loans, mortgages or credit cards. PPI became controversial after it was revealed that many consumers had been sold the insurance without understanding that the cost was being added to their loan repayments. Lloyds had suffered a net loss of 2.78 billion pounds in 2011 after the lender took a 3.2-billion pounds hit from PPI claims. Since 2009, LBG has slashed more than 40,000 posts as it seeks to nurse its way back to health following its partnationalization at the top of the global financial crisis. The bank, sunk by the ill-fated 2008 takeover of rival lender HBOS, aims to cut its international activities to 15 nations by 2014. Horta-Osorio was meanwhile forced to take a two-month break in late 2011 due to fatigue. That prompted the Portuguese national to decline his annual bonus amid British public outrage over excessive pay at state-rescued banks. -AFP

FILE - A Lloyds bank sign is displayed outside a branch of the bank in London, Friday, Feb. 24, 2012. Britain’s state-rescued Lloyds Banking Group on Tuesday announced a return to net profit in the first quarter from a year earlier as cost cutting and lower bad debts offset rising compensation claims. (AP)

the statement. Lloyds added it would seek to sell non-core assets worth 30.0 billion pounds this year compared with the previous target of 25.0 billion pounds. The EU has forced the lender to sell 632 branches as a condition for the billions of

AMMAN: Jordan-based Arab Bank Group posted a 10 percent rise in quarterly profit on Tuesday to 204 million US dollars, as revenues rose and its wide geographical spread left it less exposed to the region’s political turmoil than some of its peers. The bank, one of the Middle East’s major financial institutions with a presence in 30 countries across five continents, saw assets grow 1.5 percent to $46.3 billion at end-March 2012, according to a bourse statement. Gross income for January-March rose 8.5 percent to $459.6 million with a healthy rebound in the bank’s core commission and trade finance business. Arab Bank Group chairman Abdel Hamid Shoman said in March he hoped the bank would continue the steady performance it achieved last year with 13 percent growth in net profit to $306 million, even though unrest in the Arab world made it difficult to predict the outlook. He said growth in the bank’s balance sheet last year reflected its financial strength despite a difficult business climate that saw many global and regional banks’ earnings fall. Bankers said Arab Bank set aside nearly one billion dollars in provisions in the last two years to cover non-performing loans by businesses reeling from the global downturn, but was cushioned by a healthy capital base. Figures show shareholder equity rose 1.3 percent in the first quarter to $7.7 billion at endMarch 2012 against the same period last year. Non-performing loans stood at $1.6 billion at the end of March and comprise 7.5 percent of total credit facilities with non-performing loans covered by 102 percent of provisions as of March 2012. Investment analysts say the bank has traditionally had a lower risk appetite than peers and its favoring of capitalization and liquidity versus profitability. The Amman-based Arab Bank’s growth has long been tied to its regional and global expansion and it has built a reputation for low vulnerability to major political upheaval. Despite the regional downturn, the bank’s traditionally loyal, mainly Arab customer base remained steady, with deposits reaching the level of $28.6 billion at the end of March. Bankers say the bank’s geographic spread - 70 to 80 percent of its assets, funding, capital and revenue lie outside Jordan in 30 countries across five continents - would help the bank weather the turmoil that has hurt many of its peers. -Reuters

SHUAA updates market on strategic progress CAPITALS: SHUAA Capital, the leading regional financial services company, gave an update in a press release on Tuesday on its business turnaround activities ahead of the announcement of its first quarter (Q1) 2012 financial results to be published on May 7, 2012. Commenting HH Sheikh Maktoum bin Hasher Al-Maktoum, Executive Chairman of SHUAA Capital, said, “Ahead of the Q1 results I wanted to inform shareholders of the strategic progress we have made to reposition SHUAA Capital, since I was appointed Chairman this time last year. We now have a clear direction, a significantly reduced cost base and a much higher degree

of financial visibility.” “We have a new strategy in place to focus the Firm on those areas of our business where we have a strategic market advantage, namely; asset management, advisory, and credit. Our asset management business is among the best performers in the industry. Our investment banking team has successfully executed an important IPO for NMC Health on the London Stock Exchange. Our Lending business continues to generate core profitability. Integral to our strategy has been the development of a comprehensive revenue enhancement program to ensure these business areas are able to reach their full potential. Colin Macdonald, our new

Group CEO, and I will be driving this program forward.” “We have worked hard to cut costs in 2011 and this continued into 2012. Year on year, we have already improved our monthly operating cash flow by 57 percent. Our target for the first half of 2012 is a further reduction of 14 percent, leading to a total improvement of operating cash flow of 71 percent since the launch of our systematic rightsizing program in 2011.” “71 percent improvement of operating cash flow gives us a solid foundation to capitalize on the increase in revenues that we expect going forward. Excluding our Lending business, the Group has reduced the

Trading Prices of Kuwait Exchange Trading Prices of Kuwait StockStock Exchange

Date of Closing Prices:

Company

High

Low

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

1,060 440 770 920 275 435 740 590

1,040 430 770 870 270 430 730 590

Kw Investment Commercial Facilit. Int'L Financial Adv. National Invest. Kw Projects Ahlia Holding Coast Invest. Int'L Investor Securities House Ind. & Fin. Inv. Securities Group Int'L Finance MARKAZ KMIFIC Aref Inv. Group Al AMAN Inv. ALOLA Inv. ALMAL Inv. Gulf Inv. House A'ayan Leasing Bayan Inv. GLOBAL Inv. Osoul Inv. KFIC KAMCO Nat. Int'l Holding Housing Finance MADAR Al Deera Holding Al Safat Inv. Al Salam Group Ekttitab Holding Al Qurain Holding Sokouk Holding Al-Madina Finance NOOR Tamdeen Inv. KW BH Int'l Exch. Taiba Kuwaiti Holding Kuwait Syrian Strategia Kuwait China Inv. Manafae Inv. Gulf North Africa Amwal Al Masar Al-Imtiaz

104 265 148 325 60 108 118 41.0 154 52 37 38.0 69 295 39.0 250.0 104.0 68.0 192 70 53 106

104 265 146 320 59 104 118 39.0 152 51 35 38.0 68 295 38.5 242.0 98.0 65.0 192 69 51 104

Global Index - Banking

Global Index - Investment

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

Global Index - Insurance

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

57 110 134 246 39.5 94 1,020 73 21.5 66.0 90 60 69 86 31.0 87 44.0 59 83 49.5 36.5 44.5 34.0 59 365

Global Index - Real Estate

Nationl Ind Ind. Group Pipes Ind. & Oil Kuwait Cement Refrigeration Ind. Gulf Cables & Elec. Heavy eng. & Ship. Marine Services Portland Cement

ź ź ź ŷ ź Ÿ ŷ ŷ ŷ

224 122 450 144 1,280 285 148 870

222 118 450 136 1,280 285 144 870

1060 440 780 580 890 270 435 730 590 317.74

-20 -10 -10 -10 5 3.30-

1,040 425 760 570 870 270 430 730 590

1,060 430 770 590 880 275 435 740 600

3.8% 0.0% 0.0% 2.6% 1.7% 1.8% 2.3% 2.1% 0.0% 2.0%

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

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

14.97 36.98 1209.21 17.44 33.01 26.31 13.29 26.39 128.53 19.14

160,000 160,000 440,000 540,000 2,360,000 6,800,000 40,000 21,520,000 4,240,000 4,240,000 45,360,000 160,000 120,000 10,000 2,400,000 6,500,000 10,200,000 9,840,000 80,000 1,440,000 2,320,000 1,840,000 120,770,000

1 5 14 7 32 81 2 196 38 59 279 2 3 1 21 136 198 158 4 18 40 39

102 260 146 320 58 104 116 40.0 152 51 37 37.0 68.0 290 38.5 250.0 102.0 67.0 190 32 70 69 57 52 104.0

106 265 148 325 60 230 106 118 102 40.5 154 52 40.0 69.0 300 56 39.0 104.0 68.0 194 280 34 77 70 61 53 106.0

0.0% 0.0% 0.0% 0.0% 6.2% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.6% 4.2% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2.3%

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

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

16.16 10.02 0.00

1,334

16,640 42,400 64,280 172,900 140,280 722,000 4,720 864,920 646,720 216,400 1,632,040 6,080 8,200 2,950 93,360 1,609,640 1,038,060 654,840 15,360 100,360 122,160 194,400 8,368,710

270 450 118 112 -

300 500 460 132 -

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

325 610 540 148 220 134 40.5 44.91

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

16 3 6 2 41 68 15 8 422 163 2 7 15 103 205 1 34 22 1 499 26 104 664 35 95 2,557

109,880 21,760 23,920 19,680 148,040 418,680 150,500 23,120 1,775,880 1,261,800 21,200 23,560 60,120 461,240 948,040 3,480 146,480 65,160 3,320 5,537,080 98,720 491,200 3,115,560 83,960 1,213,750 16,226,130

56 108 132 246 228 122 98 38.5 92 990 72 20.5 63.0 89 59 68 82 36.0 84 31.0 86 43.0 56 75 152 49.5 35.5 44.5 32.5 35 57 350

57 110 134 248 31.0 234 130 106 39.0 120 93 1,020 74 21.0 64.0 90 60 69 38.5 85 92 43.5 59 84 170 36.5 33.0 39 58 355

0.0% 4.6% 0.0% 6.1% 0.0% 3.4% 0.0% 6.7% 0.0% 6.4% 0.0% 1.0% 0.0% 0.0% 0.0% 5.6% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 6.0% 6.3% 0.0% 0.0% 0.0% 0.0% 0.0% 3.7% 0.0% 0.0% 0.0% 0.0% 0.9%

63 118 152 246 37.5 250 130 100 52.0 120 104 1,080 85 20.0 68.0 97 75 73 90 38.0 92 23.0 91 17.5 45.0 70 80 174 52.0 39.5 40.5 28.5 25.5 134 40 220 70 480 59.58

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

33 14 5 18 2 1 3 1

494,080 494 080 50,280 31,500 108,840 16,000 2,850 8,760 4,350

222 120 440 144 1,260 280 142 850

224 122 450 1,280 295 150 870

0.0% 0 0% 0.0% 3.3% 0.0% 5.7% 3.5% 0.0% 7.5%

260 136 475 158 1,480 345 222 920

214 116 415 122 1,240 290 134 660

300 520 460 126 220 122 40.50 42.44

Ex-D Ex-D Ex-D 0.00-

57 108 134 246 28.5 234 124 104 38.5 110 93 1,020 73 21.0 64.0 90 59 68 77 36.0 85 31.0 87 17.5 43.5 59 83 160 49.5 36.5 44.5 17.5 33.0 134 134 220 58 355 59.58

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

0.5 20 1 1.0 1.0 -2 -2 2.5 0.5 3 3 2.5 2.5 1.5 Ex-D 1 -10 0.54

1,960,000 200,000 180,000 80,000 3,840,000 4,560,000 150,000 320,000 86,160,000 19,760,000 240,000 400,000 880,000 5,440,000 30,960,000 40,000 3,360,000 1,120,000 40,000 112,320,000 2,720,000 11,280,000 95,360,000 1,440,000 3,380,000 386,190,000

ŷ ŷ ŷ Ÿ ź ŷ ź Ÿ

224 120 450 144 1,280 285 144 870

224 120 450 134 1,300 285 152 860

10 -20 -8 10

2,220,000 2 220 000 420,000 70,000 760,000 12,500 10,000 60,000 5,000

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

-2 2 -2 -

Last Ask

834,800 286,800 77,000 263,050 194,600 68,850 167,950 660,800 2,553,850

300 520 460 126 220 122 40.50 42.44

-2

Last Bid

MTD YTD -0.11% -0.22% 3.81% 10.07% Div. Annual Close High Yield Low P/E

29 24 1 15 22 5 14 18 128

-2 1.5 -2 -1 3 -1 3 5 10.0 6.0 2.0 2 2 0.19

DTD -0.22% 0.49%

792,500 660,000 100,000 300,000 720,000 160,000 230,000 1,120,000 4,082,500

104 265 52 146 325 13.0 61 25.0 130 25.0 230 108 118 102 52 38.5 156 52 34 71 39.0 48.5 66 26.0 290 51 38.5 51 38.5 100 240.0 98.0 22.0 22.5 66.0 29.0 192.0 265 114 32.00 72 68 61 51 64 42.50 106 83.04

56 108 130 246 38.0 91 1,000 72 19.5 63.0 88 58 68 84 29.5 87 43.0 58 83 48.5 35.0 41.5 30.0 57 350

1040 430 770 580 880 275 435 730 590 314.45

Previous Close Change 179.50 -0.39 6,368.60 31.10 Trading Activity Tran. Value(KD) Chng Volume

104 265 52 146 325 13.0 59 25.0 130 25.0 230 106 118 102 52 40.0 154 51 36.5 71 38.0 48.5 69 26.0 295 51 38.5 51 38.5 100 250.0 104.0 22.0 22.5 68.0 29.0 192 265 114 32.00 72 70 61 53 64 42.50 106 83.23

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

Last Close 179.11 6,399.70 Last Prev. Close Close

05 / 01 / 2012

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

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

number of employees by 60 percent since the end of Q1, 2011, primarily in retail brokerage. I am pleased to say that we have now sized the business to the current market conditions and we have concluded our rightsizing program. “To conclude, we have taken decisive action to significantly accelerate the pace and direction at which we are moving. Altogether, our actions will ensure that SHUAA Capital remains at the forefront of its chosen business lines. The full value of our restructuring will be realized by the end of the first half of 2012. We will keep our shareholders, who have been supporting our vision for SHUAA, informed about our progress.”

Trading Prices of Kuwait Stock Exchange Date of Closig Prices: 1/05/2012

Date of Closing Prices: 01 / 05 / 2012 For more information please contact “Global” at (+965) 180 42 42 or www.globalinv.net Global General Index KSE Price Index

14.46 0.00 8.88 0.00 0.00 0.00 0.00 0.00 0.00 48.52 0.00 0.00 73.01 0.00 0.00 0.00 0.00 14.82 0.00 0.00 0.00 19.16 20.94 16.18 550.15

0.00 0.00 5.29 14.12

51.21 12.69 17.17 22.83 10.99 15.16 23.37 30.00 0.00 15.69 399.01

172.19 0.00 15.20 8.00 213.48 0.00 0.00 26.88 439.41 0.00 0.00 19.55

20.11 7.40 12.85 18.03 31.17

Shuaiba Industrial

Metal Collecting Global General Index 132 Kuwait Foundry KSE Price Index

234 ACICO United Industries 90 Company High Boubyan Petroch. 620 1,140 Gulf Glass 1,000 National Bank Gulf Bank 495 Hilal Cement Commercial 770 Al Kout Ind.Bank Project Ahli Bank 640 K-PAK Ahli UnitedMaterial Bank 850 Building International 248 Nat. Ind.Co.Bank 460 Burgan Bank Equipment Holding 188 Kw Finance House Consumer Industries 890 Boubyan Bank 590 Kuwait Gypsum Global Qurain Index - Banking 214 Salbookh Trading Kw Investment -46 IKARUS 265 Commercial Facilit. Boubyan Int'LAdv. Ind. 4176 Int'L Financial 174 National GlobalInvest. Index - Industrial Kw Projects 300 National Cinema Ahlia Holding 13.5 Kw Hotels Coast Invest. 53 Agility 420 Int'L Investor Market Complexes Securities House ZAIN 750 Ind. & Fin. Inv. Safat Energy 85.0 Securities Group Educational Group Int'L Finance Indep. Petroleum 110 MARKAZ National Cleaning 156 KMIFIC Sultan - 110 Int'L Inv. Center Group Arabi 142 Aref Inv.Group Group City Group Investment Dar - Tele. 2,400 AlWataniya AMAN Inv. Kw Gulf Link 124 ALOLA Inv. 110 Kw Cable ALMAL Inv. Vision 50 Automated System - Gulf Inv. House NAPESCO - A'ayan Leasing KCPC 325 32.5 Bayan Inv. K.S.H Inv. GLOBAL EyasInv. Osoul Hits Telecom GULFINVEST - 95 KFIC - 20.0 Al Safwa Holding KAMCO - Human Soft Int'l Leasing & Holding Inv. -75 Privatization Nat. Int'l Holding - Nafaaes Holding - Housing Finance National Slaughter MADAR Aref energy 130 26.5 AlSafwan Deera Holding AlGulf Safat Inv. Petroleum 68.0 122.0 AlGulf Salam Group Franchising 25.0 41.0 Ekttitab Credit Holding & Collection AlNational Qurain Holding -24.0 Ranges Sokouk BurganHolding Well Drilling 16.5 255 Al-Madina 40.0 IFA H&R Finance NOOR 1,700 Combinted Group Tamdeen Inv. 160 Jeeran Holding KW BH Int'l Exch. Palms Agro Taiba Kuwaiti Holding 74.0 Safat TEC Kuwait Syrian Mushrif Trading 102 Strategia UPAC 350 53 Kuwait China Inv. ALAFCO 300 Manafae Inv. Al-Muwasat - Gulf North Africa Mashaer Holding 285 Amwal Fuel AlOula Masar Future Comm. Al-Imtiaz 132 126 Hayat Comm. Global Index - Investment 69 Mubarrad Transport Kuwait Insurance -Kuwait Resorts Gulf Insurance - Advanced Technolgy - Ahlia Insurance Yiaco Medical 112 Warba Insurance Al Jazeera Airways Kuwait Re-Ins. Al Soor Fuel 230 First Takaful - Future Kid Ins. Wethaq Insurance KGL 275 Global Index - Insurance Al Nawadi Alrai Media Kuwait R.E. 48 Zima R.E. Holding United 100 National 126 GlobalR.E. Index - Services Salhia R.E. 204 LiveStock Trans. Pearl R.E. Dana Al-Safat 22494 Tamdeen R.E. United Poultry Ajial R.E. Kw FoodStuff 1,360 Massaleh R.E. United Food Arab R.E. 30.0 Kout R.E. Food - Union

- ŷ 130 źź - źŷ 232 Ÿ 89 Ÿ Low 610 ŷ 1,120 1,000 ŷź 490 - ŷŷ 770 - ŷŷ 640 - źŷ 800 - Ÿ 248 - ŷŷ 455 170 źŸ 880 - źŷ 580 - ŷ 214 źź -44 ŷŸ 260 - źŷ 4076 źŷ 170 źź 300 - Ÿŷ 12.5 ŷ - ŷ 52 ź 415 ŷ ŷ - ŷ - ŷ 740 Ÿ ŷ 81.0 Ÿ - ŷ - ŷ - ŷ 108 - ŷŷ 156 - ŷź - 108 ŷŸ 132 - ŷŸ - - ŷŷ 2,380 ŷź 120 ŷŷ 108 49 - źŷ - - ŷŷ - - ŷŷ 305 ŷŸ 31.0 - ŷŷ -ŷ - 91 ŷŷ - 18.0 ŷŸ - - ŷŷ -74 ŷŷ - - ŷŷ - - ŷŷ - ŷŷ 124 26.5 - ŷŷ - ŷŷ 67.0 114.0 23.5 ŸŸ 39.0 - źŷ -22.5 ŷŷ 16.5 255 ŷŸ 38.5 - źŷ 1,700 ŷŸ 158 źŷ - ŷ - ŷ - ŷ 74.0 Ÿ - ŷ 100 ź - ŷ 350 Ÿ 53 ŷ 295 - ŷŷ - - ŷŷ 280 - ŷŷ - ŷŷ 124 - źŷ 122 źź 67 Ÿ -- ŷŷ - - ŷŷ - - ŷŷ 108 - źŷ 226 ź - -ŷ 270 ŷŸ - źŷ 48 - źŷ 100 - Ÿŷ 118 ŸŸ 200 ź - ŷ ŷ 22492 źŸ - - ŷŷ 1,360 - ŷŷ 30.0 - źŷ - - ŷŷ

Global Index - Food 98 96 ERESCO 86085 84081 Mabani Sharjah Cement 7592 7489 INJAZZAT RE Gulf Cement Inv. Holding Um QuwainGrp Cement 12.065 11.564 Int'L Resorts 94 94 Fujaira Cement 78 77 Commercial R.E Ras AlKheimah 70 65 Sanam R.E. ARIG 112 112 54 53 Aa'yan R.E United Gulf Bank Aqar Egypt Kw Holding Kuwait R.E Holding Bahrain Kw Ins. 59 AL Mazaya 60 57.0 Gulf Fin. House 59.0 14.0 Al Dar National R.E 14.0 InovestInt'L Holding -76 -70 Themar Ahli United Bank - 168 Grand R.E Projects - 170 - 48.5 Tijara & R.E Invest -49.0 Ithmaar Bank AlGlobal TameerIndex - Non-Kuwaiti Arkan Al-Kuwait R.E 70 70 Markaz Real Estate Safat Global AlInvestment Argan Int'L Funds 28.5 28.0 Abyaar Al-Bareeq Holding 23.5 - 23.5 Munshaat AFAQ First Dubai 26.0 - 25.5 Al-Shamel KBT 27.0 Al-Safat Real Estate 27.0 Manazel 16.5 - 15.5 Ajwan Real Estate REAM 500 Specialities Group 455 - Mena Real Inter. Estate - Masaken AlDulaqan MoudonR.E Intl. R.E - - Markaz Real Estate 57 56 Eid Food Kuwait Remal 295 - 285 Maidan ClinicR.E

źŸ ŸŸ ŸŸ ź ŷ Ÿ Ÿ ŷ ź ŷ ź ŷ ŷ ŷ ŷ ź Ÿ ź ŷŸ ŷŷ ŷŸ ŷŸ ź ŷ ŷ ŷ źŷ źŷ ź ŷŷ źŷ ŷŸ ŷŷ ŷŷ źŷ Ÿ ŷ ź

Last Close Previous Close - Change 216 216 120,000 5 -2 130 176.53132 177.24 -0.70 15,720 - 5,754.20 - -27.30 330 3305,726.90 2 60,000 3 13,960 232 234 Last Prev. Trading Activity 2 1,120,000 13 100,200 88 90 Close Close Chng - Volume 375,000Tran.5 Value(KD) 620 620 228,800 -100 5,000 5,000 1,000 1,100 3,796,050 1120 1120 69 1 3,377,500 20 495 495 - 830,000 407,950 216 216 770 770 10,000 1 7,700 - 415 415 640 -20 2 6,400 660 10,000 275 275 800 50 850 350,000 23 282,700 224 Ex-D 224 16 248 248 - 700,000 173,600 315 315 460 465 -510 500,000 1036 229,750 178 1,080,000 188 198,560 890 -10 880 1,280,000 66 1,127,050 102 102 590 590 607,850 1,035,000 33 128 Ex-D 128 319.37 319.54 8,092,500 6,639,050 0.17216 -2 380,000 24015 81,320 214 46 44 1,360,000 62,360 106 106 -16 -3 188 188 260 265 -5 250,000 14 65,750 80,000 6,080 4076 1,680,000 -1 67,160 4176 13 1 8,137,500 172 0.551,428,660 167.60 168.14 170 1,040,000 20 172 -2 177,720 300 110,000 5 33,000 295 5 960 960 7,040,000 12.5 12.5 46 90,920 280 280 1,280,000 22 52 53 -1 67,280 420 1,150,000 15 477,300 420 25.0 25.0 52 52 130 130 790,950 740 10 1,065,000 750 47 31.0 31.0 3.0 13,320,000 85.0 147 1,113,280 82.0 230 230 110 110 102 102 340 340 -108 112 73,920 680,000 18 31,200 200,000 156 158 2.050 50 -9 920,000 110 108 2 99,520 44.0 44.0 -20 3,420,000 470,120 142 132 52 52 -10 -62 550 550 74 74 - - - - 17,500 2,420 41,850 2,380 28.5 28.5 - -40 -4 1,300,000 158,240 122 122 108 1443 54,920 108 - 500,000 58 4958 49.5 15,840 -1 320,000 4 300 300 23 - - 23 - - 330 330 71 - - 71 - - 310 216,950 690,000 325 31.0 31.0 58,760 1,840,000 2227 -15 255 255 48.5 - 48.5 - - 260 260 - - 68 68 -Ex-D - 1,685,120 18,280,000 264 94 94 20.5 20.5 26.0 26.0 2 72,960,000 18.0 20.0 414 1,432,960 244 - 244 - - - 270 270 9475 - 9475 -34 2,080,000 154,960 - - 5194 5194 - - - 36 36 - - - 154 154 -21 51 51 - 126 126 480,000 60,760 26.5 26.5 2 6,360 240,000 540 540 75 75 -23 -68.0 68.0 960,000 64,520 8.0 120.0 112.0 1,305,280 1.0 11,180,000 2,080,000 21226 23.0 24.0 50,840 2.039.5 41.5 24 77,080 1,920,000 120 120 19.0 19.0 - 275 1,602,480 23.5 23.5 68,320,000 16.5 51 7,920 16.5 480,000 5,100 7 255 248 20,000 39.0 0.5- - 10,640,000 93 419,440 38.5 395 395 29.0 29.0 - 20 -12 65,000 1,680 1,700 110,500 160 2.0158 12,680 80,000 4 85 85 255 255 108 108 114 114 5 74.0 72.0 14,800 2.0 200,000 26.00 26.00 20 1 140 000 114 600 100 102 2.01,140,000 30 114,600 68 68 340 1 350 3,500 10,000 10.0 53 200,000 53 10,600 2 300 300 194,800 660,000 - 60 -10 60 168 168 46.5 - - - - 46.5 285 285 155,050 550,000 64 - -12 64 255 255 42.50 - 42.50 - - - 265 265 128 130 -2 1,240,000 38 157,920 126 163,120 128 2.0- 40,720,000 1,320,000 55843 76.02 0.1275.90 2,702,550 69 203,120 68 53 1 2,960,000 - - 325 325 - 48.0 48.0 -- - 560 560 - 810 810 -485 485 - 380 380 118 -8 120,000 110 6 13,200 435 435 220 220 Ex-D 226 228 13,680 -2 3 60,000 114 114 - - - 108 108 Ex-D 40.50 40.50 275 195,200 270 29 5 710,000 43.63 43.43 0.19- 120,000 6 13,200 80 80 122 122 1 3,840 49 -1 48 80,000 98 92,000 9 100 9998 1 920,000 383,920 124 120 4 105 3,100,000 1,630 747.69 9,624,520 744.02 194,937,500 3.67 12 104,680 200 204 -4 520,000 184 184 37.5 37.5 358,240 92 3,840,000 93 364 224 10.0-1 100,000 22,400 234 136 136 120 120 - 1,360 1,360 34,000 25,000 82 - -3 82 340 340 1 30.0 80,000 30.5 0.52,400 580 580 - 108 108 - - 0.14 392,240 335.27 335.13 3,865,000 31,160 -1 320,000 98 97 867 1,656,950 10 5 1,935,000 850 5733 860 174,080 80 2,080,000 85 2 8,960 120,000 23 7592 7389 10,880,000 978,720 178 1518 23,960 11.5 12.0 0.52,000,000 64 Ex-D 117,800 65 1,840,000 38.0 38.0 94 40,000 3,760 3 1 91 3 18,520 78 77 1 240,000 120 120 67,400 17 1,000,000 65 70 -5 112 112 5 49,280 440,000 4 10,720 54 -1 55 200,000 168 168 90 90 285 285 38.0 38.0 455 Ex-D 455 11 59 26,160 440,000 -4 63 58.0 1 1,781,640 59.0 262 30,520,000 1 80,000 1,120 14.0 14.5 0.510,360,000 764,240 129 3 9176 9173 91,600 170 170 540,000 -10 17.5 17.5 -74 31.0 31.046.5 49.0 11,200,000 547,640 3 59 59 4,508,760 43.29 0.42 43.71 67,900,000 710 -4 320,000 2 22,400 70 74 122 122 48.5 48.5 - - - 124 124 12 0.52,720,000 76,880 28.0 28.5 144 144 1.0- 80,000 1 1,880 23.5 24.5 106 106 0.5240,000 6,160 3 26.0 25.5 250 250 Ex-D 35,040,000 946,080 - 4 27.0 27.0 19.0 19.0 1,200,000 8 1.0- 19,240 16.5 15.5 32 32 - 25 -15 134 134 105,150 220,000 475 500 - 134 134 51 51 - - - - 220 220 345 345 -1 240,000 6 13,520 5790 5890 47 610,850 295 290 5 2,110,000 2,260 2,260 0.02- - 53,085,000 - 332 4,151,200 49.73 49.75 39.5 39.5

Global Index - Real Estate Flex 102.0 Dar Al-Thuraya Real E 242 232 Nationl Ind. Group 232 źŷ 80 Kw Medical Services 128 - 126 - ŷŷ 128 Pipes Ind. & Oil 450 Kuwait Cement 455 450 ź - ŷ Amar For Fin. & Leas. 55 150 - ŷ Refrigeration Ind.Market Total Parallel 1,420 1,420 1,420 ź Gulf Cables & Elec. 335 - ŷ Heavy & Ship. Totaleng. Market 212 Marine Services - ŷ GlobalCement Special Indices 720 720 ŷ Portland 720 ź GlobalIndustrial Index - Kuwaiti Co.'s 180 - ŷ Shuaiba ź Global Index - 10 Large 104 104 ź Metal Collecting 110 Cap. 460 Ÿ - ŷ Kuwait Foundry Global Index - Islamic -

102.0 242 -10 13,220,000 - 154 128 - 140,000 6 80 470 20 50,000 2 55 150 -15 220,000 1,460 -40 2,500 1 335 785,882,5006,598 212 Close Prev. Close 720 230,000 19 189.11 180 188.56 183.233 106 181.98-2 80,000 460 565.19 564.35

DTD MTD YTD 0.0% 216 180 13.22 216 -0.40% 130 -1.55% -1.55% 0.0% 120 102 124 495 0.0% 315 330 350 -1.50% -0.47% -1.50% 230 2.1% 196 29.05 232 236 Annual Close 79 Last89 Last 90 Div. 0.0% 102 36.84 Bid610 Ask 620 Yield High630 Low550 P/E88.41 0.0% 1,000 1,400 4.0% 1,100 15.82 1,120 3.6% 1,140 1,120 1,100 14.74 490 495 510 490 33.95 222 0.0% 6.9% 216 206 12.38 770 780 1.9% 790 770 88.62 340 9.94 390 8.4% 415 640 660 660 640 17.34 0.0% 300 300 3.1% 275 5.20 255 840 850 - 1.6% 850 790 29.68 228 35.32 2.2% 224 246 248 255 248 23.59 260 25.74 325 305 310 0.0% 3.2% 460 465 - 0.0% 475 46051 12.26 152 0.0% 188 880 - 2.3% 900 88093 25.07 870 102 0.0% 590 - 0.0% 580 590 590 18.88 128 112.24 128 5.5% 18.61 222 318.41 216 2.0% 210 13.03 214 0.0% 319.54 0.00 0.0% 10246 106 - 0.0% 10651 10641 40.56 162 214 16.76 190 4.3% 194 8.5% 260 265 265 260 12.09 0.0% 4073 4076 0.0% 4288 4070 163.04 13.78 174.76 2.8% 172 168 0.0% 174 170 88.93 295 300 305 295 12.13 18.02 960 910 4.4% 1,120 1,000 6.7% 12.5 13.0 0.0% 13.5 12.5 1.33 280 0.0% 280 51 52 0.0% 54 52 430 16.26 340 7.1% 415 420 0.0% 25.0 25.0 0.00 65 41 0.00 0.0% 0.0% 130 130 900 690 11.30 740 8.7% 750 33.5 0.0% 36.0 31.0 81.0 45.0 84.0 0.0% 85.0 0.0% 230 230 110 110 58.86 0.0% - 0.0% 102 102 0.00 295 315 355 9.3% 350 0.0% 106 110 116 108 170 19.93 110 156 3.2% 158 0.0% 50 50 0.00 102 136 0.0% - 108 - 110 0.0% 44.0 44.0 0.00 12.00 142 132 0.0% - - 0.0% 52 5284 0.00 530 550 560 0.0% - 0.0% 74 74 0.00 1,920 12.42 2,380 2,400 0.0% 2,440 2.1% 27.0 29.5 28.5 28.5 0.00 122 0.0% 132 124 0.0% 110 112 10895 0.00 108 0.0% 49 5057 0.0% 5168 4958 230 22.18 290 8.3% 325 0.0% 350 21 24 23 22 7.6% 340 8.13 320 395 - - 0.0% 71 71 0.00 3.1% 260 11.11 330 0.0% 325 305 31.0 32.5 31.5 31.0 7.1% 255 12.82 260 - 250 - 280 0.0% 48.5 48.5 260 260 4.79 7.7% - 0.0% 68.0 64.0 68.0 32.31 309.80 0.0% 132 - 94 - 95 0.0% 20.5 20.554 - 20.0 - 20.5 0.0% 26.0 26.0 0.00 14.0 0.0% 23.5 - 238 244 244 270 12.91 280 0.0% 280 0.0% -74 -75 0.0% 9484 9461 0.00 13.28 6.7% -89 5499 0.0% 51 5184 116.80 0.0% 104 - 0.0% 36 36 0.00 154 9.95 0.0% 154 184 0.0% 51 5191 0.00 0.0% 120 128 126 26.0 26.5 27.0 27.5 520 13.11 560 0.0% 5.0% 510 710 0.0% 75 75 0.00 30.0 10.56 68.0 0.0% 67.0 78.0 99.0 120.0 120.0 118.0 16.0 25.0 0.0% 0.0% 24.0 28.5 19.5 39.0 41.5 120 130 0.0% 0.0% 140 19.0 20.0 19.0 18.0 0.00 22.5 23.5 0.0% 0.0% 12.0 23.0 16.0 16.5 17.0 16.5 41.84 198 260 0.0% 0.0% 275 39.0 38.0 38.5 39.0 86.17 490 380 400 0.0% 375 0.0% 0.0% 29.0 0.00 % 29.0 16.18 1,720 1,740 1,500 1,700 4.1% 156 8.28 3.8% 156 160 162 5.65 83 87 0.0% 89 73 255 22.77 255 270 5.1% 104 110 12.52 9.3% 126 86 11.92 114 0.0% 114 73.0 75.0 0.0% 78.0 57.0 26 27 0.0% 28 0 0% 0 00 99 100 0.0% 104 80 0.00 68 43.00 63 73 0.0% 68 340 340 355 12.70 8.6% 270 53 53 52 0.0% 55 280 3.3% 315 3.92 295 300 60 61 0.0% 60 130 7.71 6.0% 168 176 10.8% 47 47 - 47 172 4.6% 285 0.0% 10.14 280 305 64 69 64 21.75 305 265 0.0% 42.5 0.00 - 242 - 246 0.0% 42.5 300 128.0 18.62 280 0.0% 265 0.0% 124.0 128.0 132.0 5.19 126 2.4% 124 0.0% 124 75.90 70 10.01 76.32 69 68 0.0% 72 51 16.97 325 300 325 325 49.0 6.2% 0.0% 62.0 48.0 44.0 20.90 12.90 610 510 560 560 1.9% 770 860 4.5% 640 33.57 9.91 460 500 5.2% 520 485 385 3.9% 390 365 12.46 345 17.37 108 114 118 110 415 430 9.1% 485 410 9.97 0.0% 220 220 2.7% 0.0% 220 226 270 236 296.83 16.62 134 11498 110 4.6% 14.91 102 114 0.0% 114 40.5 43.0 40.5 300 218 8.42 270 275 0.0% 7.3% 12.60 44.80 92 43.43 77 82 4.7% 6.95 77 8.8% 114 124 0.0% 116 156 22.69 0.0% 37.20 49 49 48 48 106 0.0% 0.0% 110 12.83 100 100 9994 99 126 0.0% 120 22.21 128 122 791.90 705.36 11.43 12.1% 202 10.0% 200 17.83 208 200 182 15.27 222 - 0.0% 0.0% 37.5 37.5 37.5 114 0.0% 234 22490 16.20 22494 4.5% -93 126 6.02 126 146 3.7% 136 0.0% 130 120 110 130 1,340 1,360 11.38 1,360 4.8% 1,500 6.1% 82 82 5.29 85 290 390 44.60 340 345 1.5% 0.0% 30.5 30.0 31.5 530 500 10.40 630 6.5% 5.2% 610 108 108 15.28 112 118 365.22 331.33 11.40 4.2% 0.0% 100 96 39.65 95 98 860 840 21.70 86084 87085 0.0% 0.0% 44 95 76 73 7685 0.0% 7184 55 0.0% 108 0.00 12.573 11.543 11.591 12.092 0.0% 30.20 10.8% 0.0% 38.0 38.0 35.5 37.0 46 64 65 0.0% 122 0.0% 78 14.56 77 77 79 95 88 118 10.76 8.3% 126 0.0% 75 65 65 114 102 120 0.0% 132 54 26.32 0.0% 55 53 54 114 172 110 0.0% 232 365.94 0.0% 90 90 91 176 7.0% 162 330 250 6.35 0.0% 38.0 38.0 40.5 290 295 5.5% 455 0.00 455 63 60 0.0% 59 0.0% 74.0 560.45 40.5 14.5 4.15 14.5 14.0 0.0% 13.5 0.0% 9459 5.5% 91 91 9058 9.38 7.1% 17.5 17.5 - 76 0.0% - 74 33.5 31.0 31.0 19.44 168.0 30.0 170.0 0.0% 0.0% 57 0.0% 59 59 47.16 40.74 8.68 4.1% 70 74 0.0% 78 70 11.37 1,220 1,220 0.0% 0.00 48.5 48.5 116 126 0.0% 144 124 5.38 28.0 28.5 - 0.0% 29.0 28.0 27.28 0.0% 25.0 - 0.0% 24.5 23.5 23.5 4.7% 5.03 25.0 25.5 26.0 25.5 255 0.0% 6.0% 13.99 24.5 28.0 0.0% 28.5 27.0 21.5 0.0% 15.532 16.033 0.0% 16.5 15.5 0.0% 134 130 - 3.7% 134 23.07 5.7% 500 16.05 32 29 3250 0.0% 32 0.0% 220 0.0% 220 18.82 218 0.0% 320 816.78 57 60 0.00 55 5795 0.0% 0.0% 8.47 295 270 0.00 290 295 - 0.0% 0.0% 1.1% 49.86 49.73 16.27 42.0 0.0% 22.19

-3,111,120 17,800 122 22,550 45550 150 105,150 3,550 1,420 43,102,870 310 Change 710 165,600 -0.55 178 -1.25 104 8,480 435 0.83

102.0 232 130 46560 1,440 340 216 DTD 720 -0.29% 190 -0.68% 108 0.15%

0.0% 0.0% 0.0% 0.0% 2.2% 0.0% 3.3% 0.6% 4.6% 4.73% 3.0% 2.4% 13.9% 5.6% 0.0% 4.3%

232 260 130 128 470 450 158 150 1,460 1,420 340 335 212 222 MTD 710 740 -0.29% 180 180 -0.68% 104 116 460 460 0.15%

70.58 18.38

14.15 6.49 14.59 8.02 193.84 YTD 96.15 -0.52% 10.91 -4.27% 23.15 26.77 0.57%

STOCKS WITH NBK CAPITAL

ALWATAN DAILY wednesday, may 2, 2012

April 2009 May21, 01, 2012 Rebased RebasedPerformance Performance 120115

113

Bull/Bear Indicator Bull/Bear Indicator

DailyIndex Index Performance Snapshot Daily Performance Snapshot

1% 6%

1% 6% Oman

113

115110

111

Qatar

Dubai

GCC Best Performers

Saudi

95 1-Feb-12 85

1-Mar-12

1-Apr-12

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

S&P GCC Large/ Mid 20-Mar-09 4-Apr-09 Composite

MENA Best Performers

-1%

1-May-12

-6%-2

19-Apr-0

MENA Indices Highlights Country (Index)

Index Level

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

Index 7,545

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

2,505 5,250

Ku Kuwait (KSE Weighted Index)

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

Qa UAUAE Qatar (DSM Index) (ADSM Index)

OmOman UAE(MSM (DFMIndex) Index)

Level 416

Ba Bahrain (BSE Index)

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)

0.0% -4.0%

2.7%

4,945

5,478

1,681

10,294

463

1,187

2,825 467

10,621

5,089

1,094

3,282

3.9% -

5.1%

0.0%

0.4% -

2.2% -

0.9% -

52 Wk 5,916 Low 396

Turnover USD million

Turnover 2,580 USD million

Mkt. Cap. 393,282 USD million

155

0.77 1.52

8,071 2,137

122 122

125,318 69,783

1,406 12,627

1,129 4,230

196

17,284 65,352

2,214

1,921

0.8% -18.8%

36.5%

5,628

0.7%

12,109

-0.6%

-6.8%

2,903

-7.4%

12,203

8.5%

1,033

0.9%

1,403

2.4%

5,044

-2.0%

513

-3.3%

14,635

23.6%

739

7.0%

5,115

-7.2%

2,119

13.6%

3,418

56 718

5,419 1,433

30 305

3,587

4,224

1,572

10,218 1,164

15,024

7.67

1,043

18,727

407

2,837

1.29

3.21

1.56

6.34

33,782

12.71

10,049

15.58

2,506

0.85

2.15

9.12

59,990

1.12

18.36

8,507

1.58

15.08

10,562

1.68

8.07

57,002

1.35

9.50

63,640

3.95

1.78

6.47

2,079

0.86

8.67

6,576

MENA Worst Performers

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

ARKArkan Building Materials Co.

225 Saudi Industrial Inv. Grp.

101 Riyad Bank

Tadawul Index 52 week High / Low

SAR 24.70

-6.4%

115

113

194,278,037 151,376,529

115 Alinma Bank (KSA)

Turnover (USD)

79,939,744

201 Saudi Basic Industries Corp. (KSA)

343,553,085 68,207,954

201 Corp.Co. (KSA) 425Saudi Jabal Basic OmarIndustries Development (KSA)

119,955,261 57,046,653

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

97,126,838

NBKNational Bank of Kuwait (KUW)

1,474,926,869

Market Cap. (SAR '000)

-6.8%

Turnover (USD)

MENA Highest Turnover

9,674,617

-2.3% -8.9%

-2.2% -8.6%

703 Zain - Saudi Arabia (KSA)

88,742,222 64,280,166 Close

% Chg.

162.50

2050.SSE Savola Group Co.

1.9%

35.50

7,931 / 5,916 2010.SSE Saudi Basic Industries Corp.

Turnover (SAR '000)

-10.0%

AED 0.44 SAR 48.00

SAR 13.70

GCC Highest Turnover

0.30

Advance/Decline Ratio

% Chg.

KWD 0.430 SAR 22.95

85% 4190.SSE Jarir Marketing Co.

% of stocks trading above 1yr avg. price

2.0%

8.0%

QAR 27.10 -13.1% -2.9% KWD 0.265

7,545 (-0.2%)

Tadawul Index (% Chg.)

125

2.4% 8.6%

AED 0.89% Chg. -5.3% Close

EMAEmaar Properties (UAE) Best Performers

Summary

2.8% 8.8%

AED 82.35

KFI Kuwait Finance House (KUW)

Rebased Performance

6.0% 9.8%

8.0%

MA Mashreq

0.88 201 DAN Dana Basic Gas Industries Corp. 1.74 Saudi

9.63

9,406

9.02 8.85

56,868

OMR 0.720

GCC Worst Performers

1.90 FAC BRE Barwa RealFacilities Estate Co. 1.37 Commercial Co. 1.61 GB Gulf Bank 0.88 238 Rabigh Petrochem.

10.43 6.87

13.52

465

4,091

18,100 37,413

1.03 1.77

11.38 7.29

27,303

2,551

8.42 10.24

328

1.99

10.51 9.99

65,989 264,263

QAR 21.60

BKMBankMuscat

33,937 98,547

8,892 5,148

6,372 5,860

12.83

KWD 1.020

QGTQatar Gas Transport Co.

PB1.43

-1.1% 12.8%

1,301 316

Trailing

AED 3.49 QAR 6.35

MA Mabanee Co.

PE 14.16

86 2,183

KWD 0.255 OMR 0.703

ARTArabtec Holding KCB Al Khaliji Commercial Bank

100,673

2,293 4,130

1,754 787

AED 1.06 SAR 5.60

ABA Burgan Co. for Well GEC Galfar Engineering & Drilling Contracting

Trailing

Mkt. Cap. USD million

2,775 10,090

2.4% 6.6%

-0.4% 0.6%

467

52 Wk Low

4.2% 9.3%

-0.6% 1.9%

546

Tu Tunisia (Tunis SE Index)* * Market Closed

-0.2%

5,833 1,745

1,980

Eg Egypt (Hermes Egypt Index (HFI))*

52 Wk 7,931 High

17.6% YTD

20.0% -0.2%

Jo Jordan (Amman General Index)

M Morocco (Casa All Shares Index)*

%-0.2% Chg.

-0.5% 1.8%

8,672 2,695

1,153 5,590

OmOman (MSM Index)

YTD

1,624 406

Ba Qa Bahrain Qatar(BSE (DSMIndex)* Index)

Eg Egypt (EGX 30 Index)*

% Chg.

52 Wk High

% Chg.

AED 4.95% Chg. 9.8% Close

GCKingdom Gulf Cement 3 428 Hldg.Co. Co.

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

4 NBFNational Bank of Fujairah

Period's Liquidity 1 Ratio (PLR x)

-1

Abu Dhabi Abu Dhabi

Dubai Palestine

Oman

Dubai

Qatar Dubai

-6%

Saudi

-1%

Kuwait

Saudi

100

-4%

Saudi

Qatar Qatar

Oman Oman

-2%

AbuAbu DhabiDhabi Bahrain

Kuwait Kuwait

100

105

Kuwait

Jordan

107

Bahrain Jordan

Return DailyDaily Return (%)(%)

110

2% 0%

111

105

3050.SSE Southern Province Cement Co.

1150.SSE Alinma Bank

0.9%

103.00

0.5%

105.00

0.5%

15.00

0.3%

111

Highest Turnover

105

Worst Performers Turnover (SAR) 728,600,923 2060.SSE National Industrialization Co. 567,707,396 4220.SSE Emaar the Economic City 299,798,023 1090.SSE Samba Financial Grp.

70Zain - Saudi Arabia 1 Alinma Bank

20Saudi Basic Industries Corp.

95 1-Feb-12

1-Mar-12

1-Apr-12

S&P GCC Large/Mid Composite

255,800,289

42Jabal Omar Development Co.

1-May-12

213,942,061

42Emaar the Economic City

2290.SSE Yanbu National Petrochemicals Co. 1020.SSE Bank Al Jazira

% Chg.

35.30

-1.9%

13.20

-1.5%

52.75

-1.4%

50.75 28.20

-1.5% -1.4%

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

Close 78.00

1 Alinma Bank

15.00

1 Arab National Bank

30.80

2 Almarai Co.

1 Bank AlBilad

1 Bank Al Jazira

Daily % Chg. 0.0%

78.50

Low 78.00

Turnover (SAR '000) 88,941

0.3%

15.15

14.90

567,707

-0.7%

31.60

30.60

8,642

66.25

-1.1%

30.10

0.0%

28.20

High

-1.4%

65.50

39,854

30.60

30.00

26,385 2,502

67.00

28.60

28.20

11,833

11.30

186,325

68.75

42,566

1 Banque Saudi Fransi

38.10

-0.8%

38.50

38.10

4 Emaar the Economic City

13.20

-1.5%

13.45

13.20

213,942

21.60

255,800

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

4 Jabal Omar Development Co. 4 Jarir Marketing Co.

4 Kingdom Holding Co.

2 National Industrialization Co.

2 Rabigh Refining & Petrochemical Co.

1 Riyad Bank

1 Samba Financial Grp.

11.40

69.25

-0.5%

12.10

0.0%

69.50

22.25

163.00 12.20

5,845

35.30

71,014

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

21.70

0.0%

21.80

21.65

17,023

-0.6%

17.95

17.70

128,045

35.10

16,781

36.00

5,776

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

17.80

24.15

30,484

18.65

2,662

42.30

-0.5%

42.50

42.10

31,838

105.00

0.5%

106.00

103.25

2,523

0.0%

51.00

50.25

14,320

9.60

728,601

35.50

0.9%

36.20

-0.8%

52.75

-1.4%

50.50 9.65

-1.0%

36.20

36.30

53.75 9.95

165.00

105.50

22.90

11.10

-4.4%

7.05

-7.6%

-1.5%

17.75

114,770

18.95

30.0%

24.45

28.30

52.50

41,758

13.10

50.75

26.90

35.10

23.10

165.00

2,917

112.00

87.75

3,496

16.30

1,255 141

7,185 751 470

11,220,000

31.9%

784

28.70

89.9%

0.0%

-2.9%

21.42

-1.4%

1.8

50.00

200.00

117

11.8

69.25

141

791

34,443,081

27.4%

29.30

11,383

437

2.2%

57.2%

3,999

96.50

1,993

2.6

-17.7%

55.50

47,728

-0.3%

27.6

6.05

13.85

98.00

13.60

18.65

11,692

9,030,000

63.1%

47.3%

24.25

13.70

24.50

616

51.6%

66.4%

-4.8%

26,357

-0.7%

-0.6%

6.20

3.7

-11.6%

33.00

299,798

24.25

13.60

23.1

15.75

-10.6%

28.30

Saudi International Petrochemical Co.

16,082

16,358

-8.5%

42.40

1 Saudi Hollandi Bank

22 Saudi Industrial Investment Grp.

30.00

31.90

26,500,000

-6.9%

56.75

102.25

13.60

40.00

23.6%

12.0%

228

103.25 99.00

417

3.6

-8.6%

11,648

0.5%

0.0%

17.20

37.50

27.20

21.00

21.30

42.60 35.50

-30.4%

13.1%

79.6%

80.2%

16.7%

36.7%

-13.3%

-7.8%

-1.0%

34.7%

73.2%

-3.4%

14.0%

11.7%

10.2%

1.2%

-8.0%

7.0%

27.6%

15.55

-11.2%

15.5%

-11.2%

-16.4% -0.7%

-2.2%

2.3%

25.1%

3.5%

31.2

11.1 nmf

1.5

18.0

10.0

nmf

8.2

2.2

1.7

nmf

2.4

10.6

1.6

11.9

1.2

-7.2%

309,000,000

10.7

2.1

-1.4%

56,665,676

30,710,000

49.9

1.8

14,841,000

15.7

5.1

11,232,270

11.1

1.5

23.5

1.1

-9.9%

10,912,500

22.0

1.8

-1.1%

10,257,500

14.5

1.2

7,956,667

-2.2%

26,700,000

17.8%

84,600,000

10.8 nmf

15.4

6.0

14.0

-2.2%

18.3%

6.3%

36,200,000

12.5

-39.3%

-27.9%

-11.4%

5.25

-16.1%

73.9%

38.8%

1.4%

14,700,000

10,226,250

13.9

13,510,000

nmf

29,671,875

1.8

1.7

17,750,000

64.7%

1.5

9.9

26.8%

19.9%

0.8

2.7

23.7%

-6.2%

1.8

9.2

0.0%

22.1%

1.6

5.1

47.50

11.50

12.1

1.4

11.3

83.25

74,646

37,350,000

nmf

46,125,000

282

41.60

19,677,225

21.6%

4.8%

-1.6%

56.25

44,841,176

31.2%

-7.8%

63.25

790

9,750,000

-11.5%

-10.8%

27.82

20,353,860

45,675,000

-4.2%

106.75 37.00

48,475,000

-8.6%

6.9%

160

12,312,000

8.9%

18.55

23.70

41.5%

8,460,000

19,885,200

-16.6%

33.00

52.3%

26,180,000

-19.5%

12.85

15.50

54.2%

22,500,000

-2.4%

-7.4%

15.9

26.60

15.8%

Trailing PE

117,000,000

48.5%

-7.7%

Market Cap. (SAR '000)

2.0%

60.4%

50.50

26,141

97.00

32.90

33.70

12.2%

12 mths

-7.7%

-21.5%

184.50

103.00

872

280

601

YTD

9.05

21.20

186.00 33.60

48.41

16.25

28.90

0.0%

-0.6%

71.75

37,775

-5.7%

1,119

10,905

33.20

67.25

25,434

24.90

51.50

82.75

on high

22.65

25.00

-1.5%

% Change

Low

455

-0.4%

50.75

22.85

1,137

52-Week High

5,525

12.10

24.90

0.2%

36.00

159.50

-1.9%

2 Saudi Basic Industries Corp.

5 Saudi Electricity Co.

1.9%

11.50

35.30

22.70

184.50

3 Saudi Cement Co.

0.0%

21.90

162.50

2 Saudi Arabian Fertilizer Co.

1 Saudi Arabian Mining Co.

-0.9%

Volume ('000)

9.3

2.1

3.0

2.6

3.4

STOCKS WITH NBK CAPITAL

ALWATAN DAILY wednesday, may 2, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,400 (0.5%)

KSE General Index (% Chg.)

120

416 (-0.2%)

Advance/Decline Ratio

1.25 KIB.KSE Kuwait International Bank 6,523 / 5,694 SULTAN.KSSultan Center Food Products Co.

54%

% of stocks trading above 1yr avg. price

115

KSE General Index 52 week High / Low

110

Highest Turnover

1-Mar-12

1-Apr-12

1-May-12

S&P GCC Large/Mid Composite

2.8%

1.020

2.0%

0.275

1.9%

0.295

1.7%

0.110

1.9%

Worst Performers Turnover (KWD) 834,800

N National Bank of Kuwait

100

95 1-Feb-12

MABANEE. Mabanee Co.

27,987,149

Market Cap. (KWD '000)

103

% Chg.

0.255

43,142

Turnover (KWD '000)

105

ABAR.KSE Burgan Co. for Well Drilling

467 / 396 KAMCO.KSKIPCO Asset Management Co.

KSE Weighted Index 52 week High / Low

111

KSE Weighted Index (% Chg.)

ZA Zain Kuwait

790,950

B Boubyan Bank

660,800

IFInternational Finance Co.

722,000

N National Industries Grp. Holding

494,080

Close GBK.KSE

Gulf Bank

IFC.KSE

International Finance Co.

NBK.KSE

% Chg.

0.430

National Bank of Kuwait

-2.3%

1.040

-1.9%

2.380

-1.7%

0.106

NMTC.KSE Wataniya

CABLE.KSEGulf Cable and Electrical Industries Co.

-1.9%

1.280

-1.5%

KSE Weighted Index

Quotes Company Name

Daily % Chg.

High

Low

Turnover (KWD '000)

A Agility

0.420

0.0%

0.420

0.415

477

T Al Themar Intl. Holding Co.

0.087

0.0%

0.087

A AREF Energy Holding Co.

0.126

0.0%

0.130

0.124

A Al Ahli Bank of Kuwait

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

B Boubyan Petrochemical Co. B Burgan Bank

0.580

0.300

0.770

1.700 0.265 0.049

G Gulf Bank

JAJazeera Airways

0.435

-1.5% -

0.300 0.590

0.620 0.435 0.255 1.700

0.770

0.295

195

0.590

661

0.430

1.700

111

0.265

0.610

229

0.255

0.265 -

0.440

0.430

1.280

0.450

1.360

0.0%

1.360

K Kuwait International Bank

0.275

K Kuwait Projects Co. (Holding)

0.325

1.9%

0.870

1.2%

0.0%

0.740 0.275 0.870

0.730

168

0.270

195

0.320

173

0.870

0.325

0.079

-16.3%

-4.4%

-16.3%

88,088

nmf

1.0

0.085

-4.5%

18.9%

5.0%

-1.6%

10.7%

-39.3%

20.3%

-18.1%

-2.5%

-20.0%

160

0.524

0.410

-17.0%

1.300

-12.6%

100

0.940

0.530 0.198

1.945

160

0.700

0.375

0.255

0.055

0.019

0.552

0.425

1.680

1.240

-29.3% -10.9%

6,800

0.242

0.096

-56.2%

0.295

0.236

0.0%

0.610

0.415

-26.2%

1.620

1.340

-16.0%

0.485

230

1.000

720

0.120

0.720

0.350

540

0.236

-12.2% -10.3%

-27.0% -21.4%

-4.9%

233,931

0.0%

-4.8%

1,031,459

-3.8%

-17.0%

672,061

7.6% 1.9% 0.0%

-45.7% -8.4%

-30.3%

262.5%

-2.2%

-25.0%

-8.1%

-12.8%

0.0%

30.4%

2,220

0.285

0.192

-21.4%

-13.8%

-21.4%

N National Real Estate Co.

0.134

1.5%

0.134

0.130

180

0.168

0.056

-20.2%

4.7%

21.8%

0.214

-0.9%

0.214

380

0.226

0.186

-5.3%

O Oula Fuel Marketing Co.

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

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

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

Z Zain Kuwait

0.255

0.246

-0.8%

0.234

0.148

0.146

0.246

1.9%

0.110

0.108

0.090

1.1%

0.090

0.088

2.380

-1.7%

2.400

2.380

0.130

0.750

1.4%

0.750

0.740

0.285

100

0.110

440

0.360

0.255

0.248

0.200

-48.8%

18.3%

-13.3%

1.7%

240

0.097

0.067

2.480

1.880

1,065

1.200

0.690

-47.9%

-0.8%

-19.1%

-15.1%

0.0%

21,780

-7.4%

-13.6%

0.093

0.216

12.5%

434,387

0.0%

-15.0%

0.136

0.270

0.0%

-29.2%

920 -

791

0.144

127,927

nmf

17.6

-13.3%

87,310

22.8

88,400

nmf

23.3%

165,133

-4.0%

22.7%

17.8%

1,199,598

0.0%

-16.7%

1.1

126,130

16.9%

0.0%

-37.5%

3,230,651

0.7

13.0

18.3%

-7.2%

0.8

0.7

21.7

63,671

1.4

nmf

88,277

235,400

0.1

nmf

5.9%

0.8

2.3

25.7

-11.3%

-37.5%

1.4

14.5

109,054

-8.3%

0.0%

24.1

290,102

494

0.0%

1.7

2.0

0.222

0.146

1.9

14.9

0.224

N National Investments Company

11.4

4,527,638

0.0%

-7.4%

546,723

27.3

-7.7%

0.224

0.260

1.9

1.0

2.2%

N National Industries Grp. Holding

0.340

20.1

nmf

4.2

-9.2%

286,945

77,674

0.8

30.0

0.909

4.1

nmf

623,412

1.145

3.7

10.0

85,106

-18.8%

793

1.6

43.9%

12.1%

835

7.4

1.2

1.040

0.315

3.1

31.2

1.060

N National Industries Co.

nmf

79,087

-1.9%

0.0%

1.8

105,270

285,265

-41.2%

4.1

0.9

-20.3%

22.5%

16.6

16.8

2,120,040

1.040

1.5

141,000

-27.0%

0.691

nmf

268,712

9.3%

1.020

979,457 64,309

-58.4%

-4.4%

150

1.0

nmf

151

36.5

179,283

1.000

0.033

53,454

-7.1%

1.020

N National Bank of Kuwait

1.2

13.3

2.6

2.0%

M Mena Holding

34.3

37.0

-42.0%

-18.8%

1.4

1,132,228

-7.5%

0.660

0.281

4.2

-19.3%

1.500

0.400

nmf

0.9

23.7%

7.8%

1.5

10.0

10.6%

-12.4%

5.9

nmf

142,242

-23.8%

20.9%

1.8

300,762

164,272

-17.2%

-9.9%

3.9%

19.3

94,500

5.1%

1.020

M Mabanee Co.

877,679

-18.9%

-16.8%

-23.8%

-20.2%

0.138

-4.8%

-11.5%

0.285

0.214

-7.8%

-22.1%

0.495

722

0.5

-11.7%

-4.8%

0.420

16.3

0.530

439,671

0.280

0.630

Trailing

Market Cap. (KWD '000)

-2.3%

0.620

375

12 mths

12.0%

0.580

0.375

YTD

-2.3%

1,120

0.295

0.0%

0.132

0.295

0.0%

480

0.657

660

1.7%

0.450

0.104

0.295

660

0.104

on high

0.248

287

0.108

% Change

Low

0.430

0.770

High

1,150

-1.9%

0.730

P Kuwait Portland Cement Co.

0.106

K Kuwait Finance House F Kuwait Food Co.

0.0%

0.188

K Kuwait Cement Co.

1.2%

-1.3%

0.395

IK Ikarus Petroleum Industries Co.

K KIPCO Asset Management Co.

2.8%

-2.3%

1.280

IF International Finance Co.

0.0%

0.430

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

0.0%

0.435

C Commercial Bank of Kuwait G Global Investment House

0.0%

0.620 0.255

F Commercial Facilities Co.

0.0%

0.590

A Burgan Co. for Well Drilling

C Combined Grp Contracting Co.

52-Week

Volume ('000)

2.1

1.0

nmf

1.7

0.9

15.7

0.7

7.0

3.3

1.5

11.3

1.6

UAE Rebased Performance

Summary

Best Performers 1,624 (-0.5%)

DFM Index (% Chg.)

125

2,505 (0.0%)

ADSM Index (% Chg.)

55% GCEM.ADS Gulf Cement Co. 1.38 ARTC.DFM Arabtec Holding 1,754 / 1,301 TAMWEEL Tamweel

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

DFM Index 52 week High / Low

115

2,775 / 2,293 DIB.DFM

ADSM Index 52 week High / Low

112

523,346

Turnover (AED '000)

Highest Turnover

105 102

S&P GCC Large/Mid Composite

1-Apr-12

N National Bank of Abu Dhabi

Abu Dhabi SE

35,123,921

E Emaar Properties

1-May-12

3.49

2.4%

6.0%

1.21

Dubai Islamic Bank

1.7%

2.00

1.5%

Worst Performers

U Union National Bank 1-Mar-12

9.8%

1.06

Turnover (AED) 111,094,745 MASQ.DFM Mashreq 67,731,826 ARKAN.AD Arkan Building Materials Co. 49,931,531 DANA.ADS Dana Gas

A Arabtec Holding 95 1-Feb-12

% Chg.

4.95

395,364,851

Market Cap. (AED '000)

111

Close NBF.ADSM National Bank of Fujairah

34,679,876

A Abu Dhabi National Hotels

% Chg.

82.35

-10.0%

0.44

-2.2%

0.89

DEYAAR.D Deyaar Development Co.

0.36

FGB.ADSM First Gulf Bank

8.91

-5.3%

-1.4%

-1.0%

Dubai FM

Quotes Company Name

Daily % Chg.

High

Low

Turnover (AED '000)

A Abu Dhabi Commercial Bank

3.31

0.3%

3.34

3.29

9,731

T Abu Dhabi National Energy Co.

1.21

0.0%

1.21

1.20

6,563

A Air Arabia

0.59

0.5%

0.60

0.59

A Abu Dhabi Islamic Bank

A Abu Dhabi National Hotels A ALDAR Properties A Amlak Finance

3.19

2.00

1.15 1.02

0.3%

0.0%

0.0% -

3.20

2.00

1.16 -

3.16

2,002

1.95

34,680

1.13

8,522

1,152 -

52-Week

Volume ('000)

High

% Change

Low

on high

2,941

3.32

2.69

5,424

1.46

1.14

628

3.55

2.92

YTD

12 mths

Trailing

Market Cap. (AED '000)

19.1%

15.7%

18,521,427

5.7

0.8

-17.1%

0.8%

-17.1%

7,532,250

11.5

1.0

2,772,020

10.3

1,530,000

nmf

-10.1%

0.9%

-3.3%

7,543,412

17,340

2.90

1.98

-31.0%

-9.1%

-31.0%

2,000,000

7,426

1.59

0.76

-27.7%

25.0%

-24.3%

4,697,898

1,931 -

0.76 -

0.57 -

-0.3%

-21.3% 0.0%

1.4%

0.0%

-19.6% 0.0%

6.5

1.1

8.0

0.2

5.0

0.6

0.5

1.1

3.49

2.4%

3.51

3.35

67,732

19,512

3.63

1.24

-3.9%

119.5%

145.8%

5,217,550

20.5

1.8

A Arkan Building Materials Co.

0.89

-5.3%

0.93

0.87

378

424

1.55

0.71

-42.6%

-11.9%

-42.2%

1,557,500

nmf

1.0

D Dana Gas

0.44

-2.2%

0.45

0.44

3,581

8,073

-36.2%

-2.2%

-34.3%

A Arabtec Holding A Aramex

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

1.82

2.69 0.36

3.17

D Dubai Financial Market

1.12

D Dubai Islamic Bank

2.00

E Emirates NBD

2.83

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. T Tamweel

-1.4%

0.3%

1.97

0.0%

2.87

2.76

4.95

9.8%

1.13 1.21

U United Arab Bank

3.95

0.45

3.16

2.01

-10.0%

0.90

3.17

0.36

1.5%

82.35

1.85

0.37

1.11

0.0% -1.0%

8.72

1.79

1.13

8.68 8.91

1.06

1.83

-0.9%

-0.6%

2.94

* Closing Prices, Turnover and Market Cap. in USD

3.25

U Union National Bank U Union Properties

1.1%

6.0%

0.1% -

492

10,024 2,498

1.69

3.24

2.67

-16.9%

4,312

0.46

0.20

-20.9%

155

8,934 1,255

0.69

3.63

1.35 2.26

0.34

2.80

-17.0%

1.88

-11.5%

2.65

-38.9%

0.67

-29.3%

2.41

8.60 8.70

10,182 11,241

1,173 1,261

11.20 10.75

8.57 6.98

84.00

82.35

10,609

126

102.00

74.70

4.95

4.70

3.00

1.10

8.72 -

1.01

8.72 -

0.0%

2.95

2.94

1.23 0.45 -

532

318

111,095 -

5,711

1.17

13,583

0.44

583

49,932 -

188

301

12,740 -

5,061

4.63

1.50

9.00

-12.7%

0.68

3.30

8.74 8.95

-7.1%

10,805

1.12

1,563

1.96

35,124

1.14

-0.9%

606

3.24

3.27

0.0% 1.7%

1,102

7.38

1.1%

-2.6%

69.0% 9.7%

-3.9%

-11.1%

-3.7%

-30.0%

49.3%

-21.5%

-22.5% -17.1%

-4.9% 15.3%

-19.3%

-18.9%

5.3%

8.8%

7.5%

10.2%

4.50

3.28

-12.2%

2,966,250

-12.2%

72.5%

870,363

2,960,000

8.5%

-10.1%

-24.6%

15,728,502

-3.6%

-19.5%

0.24

2.82

7,594,108

33,786,149

1.7%

0.50

3.90

13.2

8,960,000

4.2%

19.6%

-19.9%

1,309

14,491,429

nmf

4.8

2.3

1.2

0.9

1.8 1.0

32.9%

100.7%

0.5

0.4

11.8 7.1

-22.6%

-18.8%

nmf

68,625,295 26,730,000

0.67

0.53

2,080,080

-16.1% -2.1%

1.46

7.1%

0.9

5.7

0.6

2.2%

-11.8%

6.8

2,904,881

10.0

-17.4%

0.80

1.4

19,796,525

1.63

1.02

12.6

0.0%

2.24

1.49

16.5%

3.1%

11,248 16,983

5,483,167

-17.0%

26.5%

2,664,662

-7.4%

33.3%

-1.5%

-3.1%

-2.2%

1.1%

8.9

nmf

17.0

1.2

8.7

0.9

19.4

2,182,950

8.3

8.4

22.2%

1,210,000

13.1

9.3%

1,498,251

nmf

3,935,785

0.7

1.1

8.8

5,445,000

7,337,138

0.5

4.8

11.4

2.6

0.5

0.5 0.7

0.6

2.0

STOCKS WITH NBK CAPITAL

ALWATAN DAILY wednesday, may 2, 2012

QATAR Rebased Performance

Summary

Best Performers 8,672 (-0.4%)

DSM Index (% Chg.)

120

39% QNNS.DSMQatar Navigation 0.44 QTEL.DSM Qatar Telecom 8,892 / 8,071 QIIK.DSM Qatar International Islamic Bank 442,823 QNBK.DSMQatar National Bank

% of stocks trading above 1yr avg. price

Advance/Decline Ratio

DSM 52 week High / Low

110

100

111

Turnover (QAR '000)

102

Highest Turnover

456,270,662

Market Cap. (QAR '000)

Turnover (QAR) 45,361,090 BRES.DSMBarwa Real Estate Co. 23,372,572 DHBK.DSMDoha Bank

D Doha Bank

21,043,455

IQIndustries Qatar

1-Mar-12

1-Apr-12

S&P GCC Large/Mid Composite

18,149,194

MMasraf Al Rayan

1-May-12

% Chg.

70.00

0.4%

51.00

0.2%

16.40

0.0%

140.40

0.2%

133.50

0.1%

Worst Performers

B Barwa Real Estate Co.

90 1-Feb-12

KCBK.DSMAl Khalij Commercial Bank

11,999,630

Q Qatar Gas Transport Co.

% Chg.

27.10

-2.9%

57.00

AHCS.DSMAamal Co.

-2.1%

16.70

VFQS.DSM Vodafone Qatar

-1.2%

8.55

QEWS.DSMQatar Electricity & Water Co.

-0.9%

141.10

-0.8%

Doha SM

Quotes Company Name A Aamal Co.

Close 16.70

Daily % Chg.

High

-1.2%

16.96

965

26.75

45,361

57.00

23,373

16.40

C The Commercial Bank of Qatar

71.90

-0.1%

72.30

71.60

E Ezdan Real Estate Co.

19.20

0.0%

19.59

19.20

D Doha Bank

27.10 57.00

-2.9% -2.1%

16.45

16.55

K Al Khalij Commercial Bank B Barwa Real Estate Co.

0.0%

Turnover (QAR '000)

Low

27.50 58.00

-0.1%

146.20

145.60

21,043

Q Qatar Electricity & Water Co.

141.10

-0.8%

141.50

141.10

5,137

0.2%

51.10

50.80

2,107

0.1%

133.90

133.40

9,697

0.2%

140.90

139.00

8,554

M Masraf Al Rayan

Q Qatar Gas Transport Co.

Q Qatar International Islamic Bank Q Qatar Islamic Bank

26.75 16.45

-0.6%

77.30

-0.1%

70.00

0.4%

8.55

-0.9%

51.00

Q Qatar National Bank

133.50

Q Qatar Telecom

140.40

Q Qatar Navigation V Vodafone Qatar

0.0%

26.85 16.55 77.70

70.50 8.75

26.65

18,149

16.42

12,000

77.00

4,092

69.60

4,549

8.51

5,494

on high

YTD

14.00

-23.7%

1,679

33.25

27.40

-18.5%

408

67.00

50.00

-14.9%

124

279

145.80

% Change

Low

21.90

8,932

IQIndustries Qatar

High

659

16.37

52-Week

Volume ('000)

18.01

16.06

85.50

68.00

24.97

8.7

0.9

-11.1%

9.4%

11,781,775

9.3

1.8

16.1%

20,062,500

-6.1%

-11.7%

-8.3%

-3.4%

18,265,464

-8.5%

-17.2%

8,016,764

11.4

0.8

13.2%

7.0%

7,228,170

nmf

1.1

141.73

122.73

284.77

127.70

-1.8%

-4.7%

16.47

-11.7%

76.30

-9.4%

9.6% 1.1%

-9.3%

-5.6%

-5.8%

-3.4%

69.00

-20.0%

7.24

-7.3%

-50.7%

-41.0%

17,791,394

1.1

-4.0%

9.22

10,545,278

-2.7%

12.1

-4.8%

45.50

642

-18.5%

5,904,000

22.50

56.20

87.50

-9.5%

-8.9%

50,927,936

1.5

-4.5%

-17.6%

129.50

85.30

18.8

-13.5%

148.00

9,093,150

-23.1%

18.63

0.9%

18.60

118.80

729

Trailing PE

-14.4%

148.50 28.10

Market Cap. (QAR '000)

-15.9%

144

679

-8.9%

15.5%

12 mths

0.3%

-4.0%

6.9%

-46.7%

1.3

nmf

1.8

80,190,000

10.4

3.3

14,110,000

10.4

4.7

9,110,734

8.7%

9.3

14.0

11.1

7,719,806

11.5

93,413,880

12.0

24,710,400

2.4

4.7

1.7

12.8

1.7 2.3

9.8

1.2

OMAN Rebased Performance

Summary

Best Performers 5,833 (-0.6%)

MSM Index (% Chg.)

120

42% OCOI.MSM Oman Cement Co.

% of stocks trading above 1yr avg. price

0.67

Advance/Decline Ratio

MSM 52 week High / Low

110

6,970,371

Market Cap (OMR '000)

% Chg.

0.65

RCCI.MSM Raysut Cement Co.

1.9%

1.19

6,372 / 5,419 BKDB.MSMBank Dhofar 11,432 #N/A #N/A

Turnover (OMR '000)

111

0.4%

0.44

OTEL.MSMOman Telecommunications Co.

0.0%

#N/A

1.30

-0.3%

105

Highest Turnover

100

Worst Performers Turnover (OMR) 243,527 RNSS.MSMRenaissance Services 91,257 BKMB.MSMBank Muscat

B Bank Muscat

O Oman Telecommunications Co.

66,873

B Bank Dhofar

90 1-Feb-12

1-Mar-12

1-Apr-12

1-May-12

S&P GCC Large/Mid Composite

61,848

O Oman Cement Co.

49,258

R Raysut Cement Co.

1.30

BKDB.MSMBank Dhofar

0.44

#N/A

-1.4%

0.62

OTEL.MSMOman Telecommunications Co. #N/A

% Chg.

0.62

-0.6% -0.3%

#N/A

0.0%

Muscat SM

Quotes Company Name

B Bank Dhofar

0.444

N National Bank of Oman

0.292

O Oman Telecommunications Co. R Renaissance Services

B Bank Muscat

R Raysut Cement Co.

% Chg.

High

Turnover (OMR '000)

Low

0.444

0.0%

0.293

1.304

-0.3%

1.305

1.300

0.621

-1.4%

0.620

0.649 1.189

-0.6%

1.9% 0.4%

0.625 0.652 1.200

0.626

0.618

244

0.645

1.184

52-Week

Volume ('000)

0.0%

0.620

O Oman Cement Co.

Daily

High

Low

on high

YTD

12 mths

151

0.549

0.423

-19.1%

-2.4%

-17.8%

0.324

0.291

-9.9%

-6.4%

-3.3%

1.425

1.041

-8.5%

-0.4%

17.0%

0.458

-41.0%

393

% Change

0.679

0.572

0.649

-8.7%

0.416

1.189

0.711

1.053

-6.9%

0.0%

50.2%

0.0%

56.4%

13.9%

Market Cap. (OMR '000)

Trailing PE

488,452

12.2

2.1

323,543

9.0

1.2

-7.9%

1,114,012

9.1%

214,736

15.6

1.5

237,800

15.9

2.3

978,000

11.1%

-41.0%

175,181

9.0

1.3

8.8

2.0

nmf

1.1

BAHRAIN Rebased Performance

Summary

Best Performers 1,153 (0.0%)

BSE Index (% Chg.)

120

37%

% of stocks trading above 1 yr avg. price

Advance/Decline Ratio

1,406 / 1,129

BSE 52 week High / Low 110

6,517,720

Market Cap. (BHD '000)

90 1-Feb-12

1-Mar-12 1-Apr-12 S&P GCC Large/Mid Composite

#N/A

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

1-May-12 Bahrain SE

#N/A

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

A Ahli United Bank

% Chg.

#N/A

Highest Turnover

101

100

Turnover (BHD '000)

111

Close #N/A

#N/A

Close Ahli United Bank

% Chg.

0.62 -

#N/A #N/A

#N/A

#N/A #N/A

#N/A

Quotes Company Name

Daily % Chg.

High

Low

Turnover (BHD '000)

A Ahli United Bank*

0.620

A Arab Banking Corp.*

0.420

B Albaraka Banking Grp.* B Bahrain Islamic Bank

B Bahrain Telecommunications Co. B BBK

IN Investcorp Bank* IT Ithmaar Bank*

N National Bank of Bahrain U United Gulf Bank

* Closing Prices, Turnover and Market Cap. in USD

0.930 0.088

0.456

0.400 797

0.180

0.545

0.260

Volume ('000)

52-Week High

% Change

Low

0.680

0.599

0.530

0.420

1.063 0.116 0.486 0.426 797

2.8%

12 mths

3,243,944

-26.3%

1,305,854

-5.8%

656,640

-0.4%

-12.5%

0.082

-24.1%

-2.2%

-24.1%

0.380 0.390 797

0.065

0.424

0.260

0.545

-20.8%

0.0%

Market Cap. (BHD '000)

-8.3%

-12.5%

0.180

0.600

-8.8%

YTD

0.857

on high

943,212

nmf

0.8

340,542

10.6

0.0%

-30.0%

637,391

-5.2%

-8.4%

466,171

0.0%

176.9%

-38.7%

-13.3%

-9.2%

80.0%

-36.0%

1.3

82,691

0.0%

-6.1%

10.3

0.8

16.3% -3.4%

PB 8.0

-6.2% -6.1%

Trailing PE

481,870

216,986

6.2

0.4

8.3

1.3

4.5

0.6

10.1

1.7

nmf

1.4 0.8 1.0

LIFE

Don’t Forget Aerobic Exercise

There are plenty of easy ways to work aerobic exercise into your day without visiting the gym. The American Diabetes Association mentions these suggestions: •Instead of driving, walk to nearby destinations. •Get off the bus one stop earlier and walk the rest of the way to your destination. •Wash your car, rake leaves or do some work in the garden. •Engage in vigorous play with your kids. •Walk around at a brisk pace while you’re on the phone. •Park your car at the far end of the store parking lot.

wednESDAY, MAY 2, 2012

Blood test could detect breast cancer risk LONDON: The possibility of developing a simple blood test to help identify women most at risk from breast cancer has been raised after researchers discovered a strong association between risk of the disease and a molecular change in a particular white blood cell gene according to The Guardian. Scientists funded by the Breast Cancer Campaign analyzed blood samples from 1,380 women of various ages, 640 of whom went on to develop breast cancer. They found a strong association between molecular modification of a white blood cell gene called ATM and breast cancer risk. The scientists looked for evidence of a chemical effect called methylation, which “switches” genes on and off. Women showing the highest methylation levels affecting the ATM gene were twice as likely to develop breast cancer as those with the lowest levels. On average, the blood tests were carried out three years before diagnosis. In some cases they pre-dated the discovery of breast cancer by up to 11 years. The results were especially clear in blood samples from women under the age of 60. Methylation is an “epigenetic” mechanism that allows genes to be affected by exposure to environmental factors such as hormones, radiation, alcohol, smoking or pollution. Increasingly, epigenetic effects are being seen as important drivers of cancer. Dr James Flanagan, of Imperial College London, who led the new research, said: “We know that genetic varia-

FILE - Scientists have found a strong association between molecular modification of a white blood cell gene called ATM and breast cancer risk. (Agencies)

tion contributes to a person’s risk of disease. “With this new study we can now also say that epigenetic variation, or dif-

ferences in how genes are modified, also has a role. “We hope that this research is just the beginning of our

Humans really are still evolving, study finds NEW YORK: Natural forces of evolution still continue to shape humanity despite the power we have to profoundly alter the world around us, researchers say according to LiveScience. Evolution occurs in response to outside forces that weed out whatever individuals are least fit to survive those pressures, allowing those better-fit individuals to survive and reproduce. However, since humans radically alter their environments, some researchers have questioned whether natural forces of selection continue to act upon our species. For instance, agriculture can generate surplus food that can insulate us from many ills of the world. The findings, detailed online in the journal Proceedings of the National Academy of Sciences, add to accumulating evidence of our continued evolution. For instance, past research has suggested the human brain has been shrinking over the past 5,000 years. Another study of an island population in Quebec found a genetic ush toward a younger age at first reproduction and larger families. To explore this debate further, scientists examined church records of nearly 6,000 Finns born between 1760 and 1849, which detailed information on births, deaths, marriages and economic status. The data enabled the researchers to investigate human patterns of survival and reproduction and compare them with other species - genealogy is very popular in Finland, and the country has some of the best available data for such research. “Studying evolution requires large sample

sizes with individual-based data covering the entire life span of each born person,” said researcher Virpi Lummaa at the University of Sheffield in England. The researchers investigated how agriculture might have affected four key aspects of human life - survival to adulthood, access to mates, mating success and fertility per mate. Their findings suggest that farmer and fisher Finns continued to evolve just like other species. For instance, variations in fertility and survival to adulthood match patterns seen in other organisms. “We have shown advances have not challenged the fact that our species is still evolving, just like all the other species ‘in the wild,’” Lummaa said. Intriguingly, “both the relatively wealthy individuals were exposed to very similar overall selection as the poor in our study,” said researcher Alexandre Courtiol, an evolutionary biologist at the Institute for Advanced Study in Berlin. “Many people intuitively think that ‘wealth’ might somehow protect us from the influence of the environment.” Instead, both wealthy and poor seemed to experience similar levels of early survival and fertility. As with most animal species, men and women are not equal when it comes to natural selection, the researchers found. “Characteristics increasing the mating success of men are likely to evolve faster than those increasing the mating success of women,” Courtiol

said. “This is because mating with more partners was shown to increase reproductive success more in men than in women.” In this case, men were more likely to remarry than women. The fact that natural selection continues to occur in humans during the advent of agriculture and other major cultural shifts “means that biology and culture must have interacted and shaped each other to an extent underestimated so far,” Courtiol told LiveScience. “Most scientists studying human evolution focus only on our hunter-gatherer way of life 10,000 years ago, but we show that, albeit interesting, this will not give you a complete picture of the story - we also need to focus on how people were living until very recently, and probably even today,” Courtiol added. “Extending our research toward modern days would be particularly interesting to understand how the current environment continues to shape humans,” Courtiol said. “This could be potentially of importance from a medical point of view, to understand, for instance, how quickly our immunity can respond to new major epidemics. One major obstacle is that we need reliable data at the level of individuals - number of offspring, number of partners, birth and death date - across the lifetime of all born individuals, and such datasets are rare because even many famous longitudinal studies are biased towards certain types of people or do not cover all necessary life events.”

Pesticide exposure linked to brain changes Hidden secondhand

smoke risk revealed

FILE - A farmer sprays his eggplant plantation with pesticides in 2010. (AFP)

PARIS: When pregnant women are exposed to moderate levels of a common pesticide, their children may experience lasting changes in brain structure linked to lower intelligence, a US study said Monday. The study in the Proceedings of the National Academy of Sciences examined New York City pregnant mothers who were tested for exposure to chlorpyrifos, or CPF, which is widely used for pest control in farms and public spaces. The women in the study, which included 369 subjects total, took part prior to 2001 when CPF was banned from household use in the United States, though the chemical continues to be used worldwide in agriculture. Researchers compared 20 children -- age five to 11 -- whose mothers tested highest for levels of CPF and found “significant abnormalities” in brain structure compared to 20 children whose mothers showed lower exposures. However, all the women in the study were exposed at routine levels below the US established thresholds for acute exposure, indicating that even low to moderate exposure could pose hefty risks to a child’s brain development. “The present study provides evidence that the prenatal period is a vulnerable time for the developing child,” said lead author, Virginia Rauh, professor at the Mailman School of Public Health and Deputy Director of the Columbia Center for Children’s Environmental Health.

“Toxic exposure during this critical period can have far-reaching effects on brain development and behavioral functioning.” Researchers used magnetic resonance imaging (MRI) scans of the children’s brains, which showed structural changes -- some areas abnormally larger than usual, and some typical male-female differences in brain structure that were eliminated or reversed in the high pesticide group. More study is needed to determine the long-term effects of the changes, which are “consistent with the IQ deficits previously reported in the children with high exposure levels of chlorpyrifos,” according to the research. The study was the first to use MRI scans to confirm previous findings of brain structure changes in animals exposed to pesticide, the authors said. “By combining brain imaging and community-based research, we now have much stronger evidence linking exposure to chlorpyrifos with neurodevelopmental problems,” said senior author Bradley Peterson, chief of Child and Adolescent Psychiatry, New York State Psychiatric Institute. Researchers said previous studies have shown that urban levels of the chemical have dropped since the 2001 US restrictions were added, but that risks remain because it continues to be used in food and feed crops, wood treatments, and public spaces such as golf courses, parks and highway medians. -AFP

NEW YORK: People who live in apartment buildings, especially those with children, breathe in tobacco smoke even if no one in their own household smokes, a new study shows according to LiveScience. Researchers found that about one third of study participants living in apartment buildings, condominiums and other multi-unit housing reported smelling smoke in their buildings, and about half of those residents reported smelling smoke in their own units. People were only eligible to participate in the study if no members of their household smoked in the home. The findings also showed that 41 percent of people with children reported smelling smoke in their building, whereas 26 percent of people with no children said the same. That may be because people with children, on average, are poorer than people without children, so they tend to live in buildings with larger numbers of other people who are smoking, said study researcher Dr. Jonathan Winickoff, an associate professor in pediatrics at MassGeneral Hospital for Children in Boston. There is a general association between being poorer and smoking, he said. But taken together with another recent study, the findings mean that half of parents whose children are exposed to tobacco smoke don’t know it, Winickoff said. In that earlier study, Winickoff and his colleagues found that nine out of 10 children living in apartments had a chemical called cotinine in their blood. Cotinine is an indicator that a person has breathed in tobacco smoke. “We know that if you smell it, you child will have evidence of tobacco smoke exposure in their blood. But just because you don’t smell it, doesn’t mean you’re not exposed,” Winickoff said. Exposure to secondhand tobacco smoke has been linked with higher rates of asthma, pneumonia and ear infections in children, even when researchers take into account other factors linked to these conditions, such as poverty and race, he said. Some policy makers are making efforts that could improve the health of children living in apartment buildings, Winickoff said. Public housing authorities in Maine and in Boston, for example, will soon implement mandates that buildings become smoke-free, and in New York City, Mayor Michael Bloomberg is advocating for disclosure rules, which would require all multi-unit buildings to clearly state whether smoking is permitted in the building. “People will have a choice to live in a building that has clean air, and I think we want people to have choices,” Winickoff said. The next step in his research, Winickoff said, is to look at how best to raise awareness among people living in multiunit housing of the impact of allowing smoking in buildings.

understanding about the epigenetic component of breast cancer risk and in the coming years we hope to find many more examples of genes that contribute to a person’s risk. “The challenge will be how to incorporate all of this new information into the computer models that are currently used for individual risk prediction.” Why breast cancer risk should be linked to changes in a white blood cell gene remains an unanswered question. The ATM gene has also been associated with a number of other cancers, including lymphoma and leukemia. Dr Flanagan, a Breast Cancer Campaign scientific fellow, added: “So far we have found alterations in one small region of a gene that appear to associate with risk of disease, and so the next step with this epigenetic research is a genome-wide approach to try and find all the associated genes.” He said the research raised the possibility of a simple blood test to assess breast cancer risk at a very early stage. Combined with other information, such as a family history of breast cancer, it could help identify women who might benefit from pre-emptive action. Baroness Delyth Morgan, chief executive of Breast Cancer Campaign, said: “Dr Flanagan’s research into epigenetics is so exciting because it suggests that there is every possibility the risk of developing breast cancer could be decided many decades in advance. “By piecing together how this happens, we can look at ways of preventing the disease and detecting it earlier to give people the best possible chance of survival.”

More evidence bilingualism aids thinking skills CONNECTICUT: People who speak two languages have enhanced hearing processing, which improves their attention and memory skills, a new, small study says according to HealthDay News. Northwestern University researchers recorded the brainstem responses in 23 English- and-Spanish speaking teens and 25 English-only speaking teens as they heard speech sounds in two conditions. Under quiet conditions, both groups had similar results. But when there was background noise, the bilingual teens’ brains did better at detecting speech sounds. The findings show that being bilingual changes how the nervous system responds to sound, according to the researchers. “People do crossword puzzles and other activities to keep their minds sharp,” study co-author Viorica Marian, a bilingualism expert and associate professor of communication sciences, said in a university news release. “But the advantages we’ve discovered in dual language speakers come automatically simply from knowing and using two languages. It seems that the benefits of bilingualism are particularly powerful and broad, and include attention, inhibition and encoding of sound,” she explained. “Bilinguals are natural jugglers,” Marian said. “The bilingual juggles linguistic input and, it appears, automatically pays greater attention to relevant versus irrelevant sounds. Rather than promoting linguistic confusion, bilingualism promotes improved ‘inhibitory control,’ or the ability to pick out relevant speech sounds and ignore others.”

Water floats on oil, defying conventional wisdom NEW YORK: Water can float on oil, suggest new findings defying conventional wisdom that could have important applications in cleaning up oil spills that endanger seashores and fisheries, researchers say according to LiveScience. Normally what determines whether something floats or not is its density. For instance, hot air is less dense than cooler air, which is why hot-air balloons float. Crude oil has a density of about 58 pounds per square foot, and so floats on seawater, which has a density of 64 pounds per square foot. By making water float on oil, scientists now find that conventional wisdom can be wrong. The key behind the counterintuitive results involves how tightly the molecules in a liquid stick to one another as opposed to something else. The strength of this force between like molecules determines the liquid’s surface tension - how likely it resists an external force. Insects such as water striders can walk on water by taking advantage of this surface tension. The researchers added tiny amounts of water to drops of various types of oil. These water droplets could float on the oil, depending on how large they were and

the type of oil that was used. Commercial vegetable oil has enough surface tension to support the droplets; in contrast, pure mineral oils such as hexane, octane and decane do not. This effect also worked on commercial vegetable oil as long as the drops were smaller than about one-hundredth of a cubic inch - slightly smaller than a pea. Air plays a role as well. The water droplets, due to their weight pressing down on certain parts of the oil drop, create dimples on the oil’s surface that allow in pockets of air to help balance the weight of the droplets, keeping them from sinking. “The implications could be wide for industrial processes where we can use natural forces to support a heavier liquid on top of a lighter liquid,” said researcher Chi Phan, an engineer at Curtin University in Australia. The researchers suggest these findings could help clean up oil spills. They are currently working on applying water droplets to oil slicks, Phan told LiveScience. These droplets can carry oil-eating microbes that could rest on spills and chow down instead of separating away, speeding up cleaning.

Weird ocean current may create coral refuges

NEW YORK: Global warming is expected to have devastating effects on coral reefs, but recent research points to a few exceptions according to LiveScience.Warming in the equatorial Pacific may actually create refuges for corals around a handful of islands, even as it bleaches, or kills, corals elsewhere, suggests new research that predicts increased upwelling of cold, nutrient-rich water in these places. “These little islands in the middle of the ocean can counteract global trends and have a big impact on their own future, which I think is a beautiful concept,” said study researcher Kristopher Karnauskas, a Woods Hole Oceanographic Institution scientist, in a press release issued by the institution. If predictions made by Karnauskas and colleague Anne Cohen are accurate, warming around the Gilbert Islands will be slower than elsewhere, giving the corals and their symbiotic algae a better chance to adapt. Perhaps these refuges could eventually become a source of new corals and other species that could recolonize reefs damaged by warming, Karnauskas said. Corals are animals that host tiny plants, or algae, that feed them using photosynthesis. The reefs corals build provide important habitat for many species. Warming water can cause corals to expel their algae, a phenomenon called bleaching, which turns the corals white and puts them under great stress and at risk of death. Global climate models predict the central tropical Pacific will warm by about 5.0 degrees Fahrenheit (2.8 degrees Celsius) by the end of the century. To get a better idea of how conditions might play out on a small geographic scale, the researchers used the global models in combination with a fine-scale regional model.

ALWATAN DAILY

CULTURE

WEDNESDAY, may 2, 2012

‘Pretty Little Things’ held exhibition to help renovate local orphanage Onilda Fernandes Staff Writer

KUWAIT: The serene interiors of the Sadu House in Kuwait City saw a flurry of activity from April 28 to May 1 when Noaf Hussein took over and introduced Pretty Little Things (PLT) a second time. “The first exhibition took place in December and the idea behind it is to provide a platform for regional up and coming brands that have substance. It’s a place where young entrepreneurs, bloggers and like minded people can get introduced and further collaborate to work on specific projects,” explained Hussein to Al Watan Daily. Shoppers milled around and sought gorgeous home décor, unique furniture, funky accessories, beautiful outfits and interesting paper products all displayed lavishly, relished treats from Milk Café, Munch bbq and Solo Churros, goofed around at FishFayce before stretching across the diwans, grooving to lounge music specially created for the event. “I am obsessed with details!” confessed Hussein, “Even the pots I have served my tea in, have these pretty flowers painted on them. The washrooms have soaps and candles that I picked out, the tables have been rented for about KD20 per day because I didn’t want to have ugly looking tablecloths on them, you’ll find clumps of flowers all over the place, things like that. This place needs to give off positive vibes. Everyone has to feel good about coming here.” All the 15 vendors had been handpicked by Hussein, with four brands coming in from Saudi Arabia, one from the United States and the rest, all Kuwaiti. “It’s amazing how I actually had to turn down vendors this time because I didn’t have much space. And for me, what’s more important than monetary benefits is maintaining the integrity of this show. So that, the next time there is a Pretty Little Things exhibition, I want people to come running.” What’s more, with the help of Abyat and The Khair Al-Kuwait Charity Foundation, PLT has a goal of renovating an entire building at the local orphanage. “Some of the items will be donated by Abyat and the rest will be placed on a wish list, from which event goers can pledge from. We get them at a discount, you get to see and choose exactly what your money buys. At the same time, we have set up a charity art installation at the event to raise funds, which we will use to buy what’s left on the wish list post-event,” explains Hussein, adding that most of the items have been

Some of the items on display at the Sadu House on April 30, 2012.

checked off the list. “I have kept all the donors contact details so that people who have donated KD 1 to KD 1000 will hopefully all be invited to the opening of one of the 17 buildings at the orphanage. I am trying to keep this arrangement as transparent as possible. And though I may just be making one out of the 17 houses, it will make me feel like a king that can make a difference,” expressed Hussein. Having put this exhibition together all by herself with help from her mother and a few friends, Hussein hopes to host a similar exhibition every few months. “I don’t want to bite off more than I can chew but I feel great. Most of the checklist has been ticked off, there’s only the big stuff left for which I need to calculate the amount left by the donors, and two individuals have already promised to cover whatever be the remaining cost. It’s overwhelming how so many of them have decided to remain anonymous and just done good for the sake of good,” shared Hussein. Al Watan Daily went around getting a glimpse of the stalls. One of the vendors, Muneera Al-Sharhan aimed to sell her first collection of handmade jewelry. Having graduated with a Bachelor of Fine Arts in Jewelry and Metalsmithing from Rhode Island School of Design in 2011, Al-Sharhan created this col-

lection specifically for PLT. “I was inspired by the Sadu House patterns, motifs and weavings that run across the architecture of this place. The whole process of making these pieces is therapeutic for me -filing, hammering etc. and it’s great to be here. This platform has got me introduced to so many other designers and their styles and it’s definitely going to help me think out of the box.” Saudi designer Alaa Balkhy came with “Fyunka”- graphic designer handbags and stationery products that have been influenced by the Arabic writing. “It’s a great line for college students and most people would do a double take on seeing one of these. And lucky for me, people are well aware of my brand, but I wanted to meet the Kuwaiti market to see the kind of accessories they prefer,” shared Balkhy with Al Watan daily. Another designer had handmade crochet jewelry on display that was dipped in gold and silver. Inspired by her Austrian grandmother who taught her different types of crochet, the Lebanese designer said it was her third exhibition. “I don’t duplicate my pieces unless there is a custom order. Also I’m very attached to nature, you’ll find that most of my work is centered on flowers and even the display is on wood.”

Noaf Hussein, creator of Pretty Little Things.

A section of the crowd seen at Sadu House on April 30, 2012.

Excited at the success of the second PLT exhibition and positive feedback received, Hussein who worked at a PR agency for eight months before deciding to freelance on specific projects is glad she chose this path. “I have

ibis donates to charity, contributes to environment Ricky Laxa

Staff Writer

(Left) General Manager of ibis Hotels in Kuwait Bruno Debray, General Manager of ibis Hotel Sharq Nasrat Rassem with staff of HOPE School and (Right) Beach cleanup project participated by hotel staffs during the Earth Day celebration.

KUWAIT: ibis Hotel in Kuwait recently donated school supplies and other educational items to HOPE, a school for children with special needs. The donated items were acknowledged and received by the school’s principal Linda Graves Fouke. The charity project was spearheaded by Ibis Hotels Kuwait General Manager Bruno Debray, Ibis Sharq Kuwait Hotel Manager Nasrat Rassem with heads of the departments of the hotel. The charity was a pioneering project of the hotel and will continue to share their blessings most especially to children with special needs. To add, in celebration with “Earth Day” ibis Hotels Kuwait marked its commitment to the environment through a beach clean-up. ibis Kuwait associates and heads of the departments had worked together to conceptualize glob-

ally and act locally through such an environmental project that demonstrates the importance of maintaining clean air and water, nature’s life-supporting resources and healthy ecosystems. The event continued to their annual beach fun day participated by ibis Kuwait Associates along with their respective families that made the day full of fun and activities. The success of 2012 Earth Day and Annual Beach Fun Day celebrations was spearheaded by the human resources department and the associate committee with the untiring support of the management and its associates. The hotel extends its gratitude to Al Yasra Food Company, Refreshment Trading Company, Mohamed Al-Hajery and Sons Ltd, Giant for Fresh Fruits and Vegetables Co. and Perfecta International Foodstuff Company for their continued support and Al Watan Daily for its assistance in media coverage.

These British-made brogues were made for walking NORTHAMPTON: The small wooden door of Tricker’s shoe factory unexpectedly leads to a smartly polished showroom, its dark wooden shelves home to some of the world’s finest handmade shoes, as a collection of workers visible through clear glass windows go about their daily tasks. Rows of shiny leather shoes are lined up, toe first, ready for visitors to inspect and possibly purchase straight from one of England’s oldest shoemaking firms which supplies its footwear to Prince Charles, a historic lineage that many tourists are keen to buy into. Britain’s shoe manufacturing industry is experiencing a revival, as sales of traditional footwear brands like Tricker’s, Church’s and Crockett & Jones have increased year-on-year at luxury department stores like Selfridge’s. “These are brands which stand for quality and craftsmanship. The leather and stitching quality is consistently outstanding,” said Selfridge’s Buying Manager for Men’s Shoes Richard Sanderson, who has seen a rise in demand for British-made products. “The use of traditional design methods is really appealing to international visitors, who feel like they’re buying into a piece of British culture.” “We see markets such as China, Nigeria and our closer-to-home European shoppers ask specifically for this type of brand when they visit our stores,” Sanderson added. The demand for gentlemen’s brogues, often seen on the feet of wealthy bankers, has seen business flourish at Tricker’s, one of the last remaining shoe factories in the middle English market town of Northampton. Tricker’s was founded in 1829 and

makes 1,400 pairs of shoes a week, 1,300 of which are brogues. Good feeling

Around the factory, workers carefully tend to each of the 250 individual processes that go into making one shoe. Hand laster Scott McKee holds one bespoke shoe he is making steady as he manually stitches the leather to part of the sole. McKee has worked in shoe manufacturing for 18 years, 10 of which he spent training, after following his father into the industry. “I didn’t really want to get into it, to be honest. I was working in a sports shop at the time, and then my dad got me a job but everybody got made redundant so I went to another shoe factory, but eventually came to Tricker’s.” He enjoys his job as a bespoke shoemaker as well as finding solutions to more unusual requests like building four toes inside of a shoe for a client who had lost his own. “I’m hand-making shoes which I enjoy doing, so I get a good feeling out of it because I’m making a pair of shoes for somebody who can’t buy shoes from a shop.These are specially made, so that’s a good feeling.” The factory is a small operation based in the centre of Northampton, employing around 90 workers, many of whom are local to the area. Tricker’s Director Barry Jones attributes the company’s long success to its high standards of quality craftsmanship.“People all over the world now realize that quality is very important. You buy something and it lasts, does the job. People will come back,” Jones told Reuters.

The company’s strongest growth comes from exports, which accounts for 70 percent of production to countries like Italy and Japan, but UK trade has picked up over the past year. Jones said the company has yet to venture into China because of concerns over its counterfeit market. “We’ve not really gone into China, like a lot of companies have, because they tend to take the styles and they do tend to copy them. So we’re treading a little bit carefully there,” he said. “We have enough work...at the moment not to rush into anything yet. But it will our focus at some point, maybe in the future.” International expansion plans aside, Tricker’s is suffering from a shortage of young skilled workers willing to fill the places of its ageing workforce, like many other British manufacturing operations. McKee thinks the government should do more to get younger people involved in the industry but admits this is a hard task. “They (young people) don’t want to do it. They’re more interested in playing computers or doing IT or whatever, so it’s a shame really,” he said. Jones agrees and says the skills are just not around anymore and it’s very expensive to train people up. “There’s not the colleges around like there used to be, to train people in footwear so obviously we have to do a lot of in-house training, which is expensive and time-consuming. Skills is the biggest threat to the footwear manufacturing industry around here.” However McKee wouldn’t encourage his own son to follow in his family’s long tradition of working in shoe manufacturing. “The money’s not all that great, to be honest.”-Reuters

high expectations of myself and others, so it’s best I do my own thing. Somehow working as a PR here was not how I learnt it in the books so I decided to create my world, my world of pretty, perfect little things.”

Designer Louboutin hits back in red sole lawsuit

LONDON: Would a red-soled stiletto by any other name than Christian Louboutin look as sweet? Certainly not for the luxury French shoe designer, who passionately defended his court battle to protect his famous glossy red-soled shoes Monday. Louboutin was in London to open a museum exhibition marking his brand’s 20th anniversary, talking to reporters about his inspirations and his rise to global success. But he also hit out at fellow French fashion house Yves Saint Laurent and its parent company PPR, whom he is suing for trademark infringement in a US federal appeals court. A panel of judges has yet to issue a decision. “What PPR does via Yves Saint Laurent is breaking my trademark, which I find incredibly offensive,” Louboutin told The Associated Press. Louboutin’s lawyers have compared his shoe trademark to a similar one held by Tiffany & Co. for blue boxes - sparking a wider debate on whether a designer can own a color. The 49year-old designer, dressed in a red tweed jacket, jeans and steel-toed leather shoes he designed himself, argued that his rivals are wrong to accuse him of trying to monopolize the color red. “I do not own a color. I own a specific color in a specific place,” he said of his distinctive soles. A lower US court had rejected a request by Louboutin to stop the sale of YSL shoes that are red all over, including the soles. Louboutin shoes are one of the world’s most recognizable fashion items, and have been worn by celebrities from Angelina Jolie to French first lady Carla Bruni. The most popular style is 5 inches high, and his exhibition includes many theatrical boots and shoes with even higher heels. “Shoes are objects of pleasure,” Louboutin said - though his high heels are famously uncomfortable to wear. Low heels can sometimes be attractive, he said, but comfort is clearly not one of his priorities. “I am not against comfort, but I don’t like the idea that my shoes are evocative of comfort,” he said. But he wouldn’t go so far as to endorse foot surgery - nicknamed “Loub-jobs” after his shoes - that aims to ease the pain of wearing high heels. “Frankly, it’s probably not a good idea,” he said. The retrospective exhibition at London’s Design Museum traces Louboutin’s rise from a teenager fascinated by the feathered costumes of Paris’s cabaret showgirls to his stints at YSL and Chanel to setting up his first boutique in 1991. It also gives a glimpse into his creative process from sketch to execution, as well as including creations designed for a 2008 exhibition with director David Lynch which examines shoes as fetish objects. Louboutin considers Kate Moss to be his English style icon, but said Queen Elizabeth II would be an interesting and challenging customer. “She’s a woman, she’s a queen, she’s a full concept,” he said. “She is such a symbol.” The retrospective show runs from Tuesday to July 9. -AP

A picture shows a shoe at a preview of an exhibition by French shoe designer Christian Louboutin showcasing 20 years of the famous red-soled shoes at the Design Museum in London on April 30, 2012. (AFP)

ALWATAN DAILY

entertainment Song Of The Day

Fahad AlSabah Staff Writer

Song: Blown Away Artist: Carrie Underwood Album: Blown Away Genre: Country In short: Three years since her latest release, Carrie Underwood is back with her fourth effort Blown Away to try and reclaim her spot back atop the hierarchy of country music. Blown Away lacks the roughness and grittiness of her debut, but it’s more Carnival Ride than Play On, which is good thing, for those unfamiliar with her previous albums. The title track, as most of the album, shows a darker side of Underwood, singing about an abusive father from the point of view of his daughter. To listen to the song visit www.alwatandaily.com E-mail your feedback to falsabah@alwatandaily.com

wednESDAY, MAY 2, 2012

Hollywood’s summer of superheroes and sequels, again LOS ANGELES: If the summer 2012 movie season were a film in its own right, there can be little doubt it would be a sequel - or a reboot - and in either case, it would likely feature a superhero. Hollywood’s summer season kicks off on Friday with the release of “The Avengers” and as with recent years, the four-month period is dominated by superheroes, sequels and franchise reboots featuring epic battles between good and evil. Sound like something audiences have seen before? It is, and for good reason in the minds of major studio executives. With the summer season generating as much as 40 percent of the annual domestic box office, the pressure is on to lure core audiences of mostly young men to theaters, and superhero films, sequels and reboots most often do exactly that. Movies based on characters and stories that are wellknown, such as those in comic books (“The Avengers” and “The Amazing Spider-Man”), or games (“Battleship”), film sequels (“Men in Black 3”), remakes (“Total Recall”) and best-selling books (“What To Expect When You’re Expecting”) reach audiences of built-in fans that typically turn out in droves. Book-to-film titles like “The Hunger Games” and “Dr. Seuss’ The Lorax” already have helped push movie ticket sales up 14 percent this year to $3.3 billion. Theater attendance is up 17 percent giving box office watchers reason to think the summer will top last year’s $4.4 billion in seasonal revenues. “With the attendance increase, more moviegoers have been exposed to the trailers of the upcoming summer movies so there is more awareness,” said Paul Dergarabedian, president of the box office division of Hollywood.com. “Then to have the gold standard of the superhero world on top of a new ‘Men in Black,’ ‘Battleship’ and a new Pixar movie among other things, we could be looking at the first $4.5 billion summer,” he added. Action and Aliens

The Buzz

‘Hunger Games,’ ‘Bridesmaids’ top MTV Movie Awards This year’s MTV Movie Awards will be a showdown between a bevy of bridesmaids and a cast of killer kids. “Bridesmaids” and “The Hunger Games” top nominees at MTV’s annual film honors with eight nods apiece, including bids for best cast, breakthrough performance and movie of the year. Rounding out the best-picture contenders are “Harry Potter and the Deathly Hallows: Part 2,” “The Help” And “The Twilight Saga: Breaking Dawn-Part 1.” announced nominees Monday in 12 categories, including six new ones such as “best onscreen dirtbag” and “best gut-wrenching performance.” Also new this year: Nominees were selected by a panel of actors, producers, agents and industry tastemakers instead of via online vote from the public. Fans can still choose the winners, though. Voting begins online Tuesday at 8 a.m. Eastern time. The 21st annual MTV Movie Awards will be presented June 3 at the Gibson Amphitheatre in Universal City and broadcast live on MTV. -AP

Prometheus trailer tempts with holographic aliens The latest international trailer for “Prometheus” gives audiences brief, tantalizing glimpses of some ornery alien creatures. Ridley Scott has kept his “Alien” prequel’s plot twists tightly under wraps, so even the few glimpses of deep space carnage chalk up to the most extended look yet at the creatures that will menace Noomi Rapace, Michael Fassbender, Charlize Theron and the rest of the “Prometheus” crew. Of course, the extraterrestrials in question appear outlined in holograms or as some sort of snake-like creature, so it’s difficult to tell how closely they resemble the flesh-eating monsters from the first film. Based on the blood, screaming and chilling music in the trailer, this mission to the far reaches of space does take a similar turn for the worse. -Reuters

J-Lo, Iglesias, Wisin Y Yandel announce tour Jennifer Lopez, Enrique Iglesias and Wisin Y Yandel are touring together this summer. Lopez and Iglesias announced Monday in Los Angeles that the 20-city MEGA concert tour will begin July 14 in Montreal. “We are going to give you everything we got,” Lopez said. “I think it’s going to be one of the most historic tours ever. Because I don’t know that there has ever been something ... where these Latinos have come together like this as family.” Iglesias said the tour will include individual hits as well as collaborative performances. “I have a bunch of songs with Wisin Y Yandel and obviously with Jennifer,” he told the crowd. Lopez said her 4-year-old twins, Max and Emme, will also be on the tour bus. And if they get stir crazy? “There’s always Grandma’s house,” she said. -AP

Comedian Martin Lawrence files for divorce in LA Court records show Martin Lawrence has filed for divorce from his wife of nearly two years. The actor-comedian cited irreconcilable differences in his filing Wednesday. He and Shamicka Lawrence married in July 2010. The couple dated for years and have two daughters together, ages 9 and 11. The 47-year-old star of “Big Momma’s House” and the sitcom “Martin” is seeking joint custody of the children. The filings state the couple separated last week and they have a prenuptial agreement. The divorce was first reported Monday by celebrity website TMZ. -AP

The Avengers smashes overseas box office records “The Avengers” flexed its muscles overseas, opening at No. 1 in all 39 markets and rolling up $178 million a week ahead of its US debut. Joss Whedon’s superhero spectacular earned a whopping $24.7 million in the UK, Disney’s best three-day weekend ever there. It also took in $19.7 million from Australia, a record $15.9 million from Mexico and another $12.9 million from Korea. In addition to Mexico, “The Avengers” opening was the biggest ever in Brazil, Argentina, Ecuador, Peru, Bolivia, Hong Kong, Taiwan, Malaysia, New Zealand and the Philippines. The numbers are even more impressive for the Marvel-Disney collaboration, considering the film won’t open in China and Russia until next week, when it opens in the US It will play in Japan in August. Another movie that is banking on a major foreign boost before launching in the US, Universal’s “Battleship,” continues to steam along. It took $22.5 million from 50 locales over the weekend, raising its overseas gross to $170 million, according to Rentrak. It opens on May 18 in the US. “Titanic,” meanwhile, rang up another $20.4 million from 71 territories, raising its foreign overall gross to $317 million. Elsewhere, Sony’s “Pirates! The Band of Misfits” opened to $1.1 million in Russia. It has grossed $63.6 million so far in 49 markets. -Reuters

Summer kicks off with “The Avengers” combining popular Marvel characters such as Iron Man, The Hulk, Thor and Captain America among others into one adventure film that has so much pent-up demand box office watchers think its opening weekend sales could top $160 million in the United States and Canada. Internationally, the film already has pulled in $178 million since opening last Wednesday in 39 markets. “Everyone has been anticipating getting these popular superheroes in one particular place to see - first of all, how they’ll get along, and second, what kind of force they become when they are one,” the film’s Samuel L. Jackson told Reuters. The studios hope “Avengers” will set the tone for other comic book flicks to follow including “The Amazing SpiderMan” (July 3), a franchise reboot with Andrew Garfield taking the crime fighter role from Tobey Maguire, and the third installment of director Christopher Nolan’s Batman franchise,

In this film image released by Disney, Thor portrayed by Chris Hemsworth, left, and Captain America, portrayed by Chris Evans, are shown in a scene from “The Avengers” (AP)

“The Dark Knight Rises” (July 20th). On May 25, for the first time in 15 years, Will Smith and Tommy Lee Jones reprise their roles as secret Agent J and Agent K who track aliens living on Earth to make sure they don’t get out of hand in “Men in Black 3.” “It’s a good summer movie,” director Barry Sonnenfeld told Reuters. “It’s not overly deep. It’s the Will Smith you want to see - he’s funny and charming. Tommy Lee Jones is very dry. This time you can expect time travel (with Josh Brolin playing a young Agent K) and at the end, you understand much more about their relationship over the last 15 years.” Aliens wreak havoc throughout the summer in films as “Battleship,” (May 18) based on the board game of the same name, “Prometheus” (June 8), Ridley Scott’s is-it-or-isn’t-it prequel to “Alien,” and the comedy “Neighborhood Watch” (July 27) starring Ben Stiller, Vince Vaughn and Jonah Hill. The fighting keeps going in sequels “G.I. Joe: Retaliation” (June 29) and “The Expendables 2” (August 17). And a double reboot, of sorts, takes place on August 3 when Colin Farrell takes over Arnold Schwarzenegger’s role in

“Total Recall,” which opens alongside Jeremy Renner breathing new life into a non-Matt Damon “Bourne” film, “The Bourne Legacy.” Even women get in on the action. Kristen Stewart and Charlize Theron battle each other in “Snow White and the Huntsman” (June 1). Family-friendly Pixar joins the fray, too, introducing for the first time a female lead character - a young Scottish warrior - in the animated “Brave” (June 22). “It seems in the wake of the box office success of ‘Twilight’ and now ‘The Hunger Games,’ female audiences wants something with a little more bite to it,” said Dave Karger, movie writer for Entertainment Weekly magazine. Still, traditional offerings aimed at women remain important for summer alternative programming, and this year sees the ensemble comedy “What To Expect When You’re Expecting” (May 18) starring Cameron Diaz and Jennifer Lopez, romantic comedy “Hope Springs” with Meryl Streep (August 10), and musical drama “Sparkle” starring the late Whitney Houston and former “American Idol” winner Jordin Sparks (August 17). -Reuters

Don’t blame me for Whitney’s death, Bobby Brown says LOS ANGELES: Whitney Houston’s ex-husband Bobby Brown struck back at claims he was responsible for getting the pop star hooked on drugs or that he somehow played a role in her cocainefueled death in February. “I’m not the one that got Whitney on drugs, at all,” Brown said in an interview to be aired this week on the “Today” show on US television network NBC. “I’m not the reason she’s gone,” he added. Houston, 48, was found dead in a Beverly Hills hotel bathtub on February11 from what authorities called accidental drowning brought on by cocaine use and heart disease. White powder and drug paraphernalia were found in the bathroom where she died. The singer had spoken publicly about a long battle with cocaine, marijuana and crack, particularly during her tempestuous 15-year marriage to Brown. They divorced in 2007, but some fans and members of Houston’s family have blamed Brown for her untimely death. In his first TV interview since the singer died, Brown, 43, told “Today” show host Matt Lauer that he had been off drugs for seven years and was hurt to hear that Houston had been using cocaine. “I was hurt ... because, you know, me being off of narcotics for the last seven years - I felt that she was, you know, I didn’t know she was struggling with it still. But at the same time, you know - listen, it’s a hard fight,” he said. Brown said drugs were part of Houston’s life before he met her in 1991. “I smoked weed, I drank the beer, but no, I wasn’t the one that got Whitney on drugs

Court denies Hudson is getting star treatment

FILE - Bobby Brown (Right) leaves the funeral service of ex-wife, pop singer Whitney Houston, at the New Hope Baptist Church in Newark, New Jersey Feb. 18, 2012. (Reuters)

at all,” he said. “So this was a part of her life before you and she got together?” Lauer asked. “Way, way before. Yeah ... It’s just, it’s just unexplainable - how one could, you know, (say that I) got her addicted to drugs. I’m not the reason she’s gone,” Brown replied. Brown said Houston had a “glow about her” when he last saw her about a week before she died. He was at a restaurant having dinner with their daughter, Bobbi Kristina. “She just looked like she was in a

good place,” he said about the “I Will Always Love You” singer. The interview will be aired on “Today” show on Wednesday and Thursday. Brown turned up for Houston’s funeral in New Jersey but left before the service started saying he felt unwanted and disrespected. Six weeks after Houston died, Brown was arrested and charged in Los Angeles with drunk driving and driving on a suspended license. Brown has pleaded not guilty. -Reuters

CHICAGO: Jennifer Hudson arrives each day at the trial of the man accused of killing three of her close family members with her personal bodyguards in tow. She uses a secret entrance to elude photographers, eats in private and waits for proceedings to start in normally offlimits judge’s chambers. The Oscar winner recently named one of the world’s 50 most beautiful women by People magazine, slips from the courtroom during particularly gory testimony. Do the accommodations for the actress and singer add up to special star treatment? “Absolutely not,” said Irv Miller, a judge’s liaison at the trial, which is into its second full week. Most accommodations, he insisted, are courtesies routinely extended to victims having to endure the grim ordeal of sitting through a murder trial. Others, he conceded, are necessary because Hudson – a 2004 “American Idol” finalist and 2007 Oscar winner for her role in “Dreamgirls” – is a celebrity. “Star status means things have to be a little different,” he said. “You just can’t have a celebrity walking about, going to the cafeteria – people running up to ask for autographs.” Others, however, say the courthouse has gone too far. “It’s outrageous,” Manny Medrano, a Los Angeles-based defense attorney and former television reporter who regularly comments on high-profile cases. “It sends the wrong signal to the world – that if you are a celebrity, you won’t be treated like everyone.” Her treatment may be a result of Chicago’s relative lack of experience with celebrity cases. In Southern California, said Medrano, people expect celebrities to be treated at court like everyone else. The unease of the Hudson trial judge shows. He spent months compiling special decorum rules, including bans on tweets from court, and appears to eye journalists’ every move in his courtroom He threw one out for half a day after spotting her holding a pen in the corner of her mouth, deeming it a distraction.-AP

Louis C.K., Bjork among Webby Awards winners

NEW YORK: When Louis C.K. released his comedy special “Live at the Beacon Theater” by himself on his website for $5, it was little more than a cautiously optimistic experiment. Less than two weeks later, it had reaped more than $1 million. Already among the most respected standups in the country, Louis C.K. was suddenly a new media trailblazer, too. On Tuesday, the Webby Awards announced Louis C.K. is their “person of the year” for setting “a new precedent for distribution.” Comedians Aziz Ansari and Jim Gaffigan have since similarly released albums online. The Webbys, which celebrate Internet achievement, announced the winners of its 16th annual awards on Tuesday. The International Academy of Digital Arts and Sciences, which present the awards, shared the winners with The Associated Press shortly before they were to make an official announcement. The awards spanned the breath of the Internet, from mobile apps like Instagram and Pinterest that have disrupted social media, to entertainers charting new digital ground, like Louis C.K. and Bjork. Bjork was named artist of the year. Last year, the Ice-

landic musician released the album “Biophilia” as a multimedia presentation of music and apps. She was among the special recognitions named by the Webbys, which also cited the photo app Instagram as breakout of the year. It was recently acquired by Facebook for $1 billion. “It’s been a huge year of change,” said David-Michel Davies, executive director of the International Academy of Digital Arts & Sciences, a group of about 1,000 Web experts and Internet professionals. Also specially honored were Juliette Lewis and Graydon Sheppard, who share the award for best actress for the viral video “S--- Girls Say.” The video, which parodies common expressions, has been watched more than 16.2 million times on YouTube and spawned a viral sensation of countless similar videos. Sheppard, a male comic, appears in drag in the video. In more than 130 regular categories, the Webbys give two winners per category: an official Webby award and a “people’s voice” pick chosen from online votes. Ferrell, who co-founded the comedy website Funny Or Die, won best individual performance for a video in which

he reprised his impression of President George W. Bush, reacting to Osama Bin Laden’s death. The Onion won for best humor website and its video arm, the Onion Network, earned best writing in an online video for its satirical morning TV show video: “How to Get a Guy to Notice You While You’re Having Sex With Him.” The pinboard-style website Pinterest won for best social media app, as well as a people’s voice award for best functioning visual design. Best music app went to the streaming service Spotify, which Davies said typified “the intersection we’re seeing between social and entertainment.” HBO Connect won for best TV website. The New Yorker’s website won for best editorial writing. One new category, people’s special achievement for social change, went to Facebook. The award, which was voted for online, honors “important Internet work that played an integral role in advancing and organizing the masses.” The awards will be handed out in a May 21 event at the Hammerstein Ballroom in New York. Patton Oswalt will host the awards, whose winners are famously restricted to five-word acceptance speeches. -AP

ALWATAN DAILY

AROUND TOWN / TIME OUT

WEDNESDAY, MAY 2, 2012

If you have an event you wish to include, please email: aroundtown@alwatandaily.com

Feature o f

graffiti

the day

moderately confused

Abdulrahman Barrak Al-Babtain launches ‘I’m Watch’ in Kuwait and GCC countries

KUWAIT: The world’s first real smart watch “I’m Watch” will soon make its way into the Kuwaiti market, bringing a new concept in the telecom industry and fostering innovation, creativity and excellence. Wildly popular overseas, this Italian-designed wristwatch is the first multitasking touch screen smart watch that works in unison with a variety of smart phones and allows wearers to use applications such as games, SMS, calls, weather forecast, e-mail, facebook, twitter, news and many others. In one word, it allows them the ability to stay connected and conduct vital business without having to forage into their pockets looking for their phones! Moreover, this creative invention actually uses Android 1.6 OS, the most common operating system in the world and is characterized with performances never seen before on such a small devices, such as an intuitive interface, a rock-solid stability and amazing functionalities. Available in many different colors (black, blue, red, pink, green, yellow...), this seductive-looking watch will surely satisfy even the most sophisticated demands. It also includes different category lines, starting from the fashionable I’m

Month a t

Color, to the interactive designs of I’m Tech especially conceived for people with active lifestyles, and ending up with the luxurious and extravagant I’m Jewel collection. In fact, Manuel Zanella, President of I’m Watch emphasized the particularity of this watch by stating: “What makes I’m Watch a special product is that even if other companies produce a smart watch, it will not reach the luxury and high quality material used to create I’m Watch. It will be even difficult for them to stand up to the entry level, the “I’m color”, which are very fashionable.”

With the soon arrival of I’m Watch into the Kuwait market, Abdulrahman Barrak Al Babtain Est. (ABB) adds a new feather on its cap for bringing you a product bred with cutting-edge technology and an incomparable innovative touch. The company is actually proud to announce to all technology and fashion lovers that it will be soon launching I’m Watch in Kuwait and the rest of the GCC countries. Focusing on launching new innovative products, ABB is today the exclusive distributor of I’m Watch in Kuwait, Saudi Arabia, Bahrain, Qatar, UAE and Oman.

Sudoku

Elementary

Advanced

Intermediate

General A n n o u n c e m e n t s

a glance the members of internationally recognized toastmasters in Kuwait. This year’s contest will be held at American International School, Maiden Hawalli. Entry to this event is absolutely free but a prior registration is required.

Annual lecture May 9/ 7 p.m. / AWARE Center: As the 22nd anniversary of the Iraqi invasion of Kuwait approaches, the AWARE Center cordially invites all interested western expatriates to its annual lecture entitled, “Kuwait before and after: a photographic document,” presented by Gustavo Ferrari - Journalist and photographer. For more information, call 25335260/80.

Bread baking course 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

Marriage counseling session May 2/ 6 p.m. - 8 p.m. / TIES Center: TIES Ladies Club invites all ladies to a lecture on Marriage Institution by Joanne Hands (Psychologist, Licensed Counselor, Marriage & family Therapist). The lecture will cover on a brief introduction to the stages of marriage institution, a successful approach to the day to day marriage life, tricks of nourishing and improving your marriage relationships and techniques of overcoming the marriage challenges. Refreshments will be served. For more information please contact us on 97228860/2523015/6 or emailinfo@tiescenter.net.

Annual speech contest May 5/ 2 p.m. - 8 p.m. /AIS: The Annual Inter-Gavel Club Contest showcases the communication skills of young children through speech contest. This speech contest will be amongst the members of 14 Gavel Clubs mentored by

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

April 19- May 10/ 6 p.m.-8 p.m. /TIES Center: TIES Ladies Club invites all ladies the unique course of preparing the ancient traditional food “The Bread Baking”. Baking of different kinds of breads will be demonstrated including Old English Toast, Italian Bread Stick, Strawberry Sweet Heart and many more. For more information please contact us on 97228860/2523015/6 or emailinfo@tiescenter.net.

Mario is a gentle and affectionate 6-years-young Spitz male. This friendly boy does great with people and dogs of all ages.

Aim high May 10/ 7 p.m. - 9 p.m./ Jabriya: Toastmasters Club would like to take this opportunity to invite you to a showcase meeting which is a part of a membership campaign drive to be held on Thursday at the Jabriya Public Library. The goals of the membership drive are; to promote Aim High meetings, to attract new members and to encourage members to invite guests to the club. This is a great opportunity for members and guests to meet and network with a cross section of individuals in Kuwait with common interest of improving their communications and leadership skills. For information please call: Khaled Al-Hashem - President at 65588824 or Rhea Usman - VP Membership at 90024115.

The Embassy of the Slovak Republic in Kuwait would like to inform the public that on the occasion of the Liberation Day, the Embassy will be closed on Tuesday, May 8, 2012.

Fayre trade

Open House for Indian Citizens

May 12/ 10 a.m. -4 p.m. / Sadu House: Welcome to the fayre! A great day out for all the family. Do your summer souvenir shopping in the wonderful surroundings of Sadu house. Games for the kids, raffle, free admission. Relax after shopping with a scone and a nice cup of tea in the Diwaniya coffee shop. Art and photography, handicrafts and gifts, jewelry rugs and carpets, sadu weaving, frankincense and myrrh, books, fashion. Supporting 5 charities. For more info: Fayretradeq8@yahoo.com Facebook: Fayre Trade Kuwait.

Dilbert

Embassy of the Slovak Republic Holiday Notice The Embassy of India will remain closed on May 6, 2012 on account of “Buddha Purnima”.

Ambassador of India would be holding an Open House for Indian citizens to address their problems\grievances on Wednesdays of the second and the fourth weeks of every month between 1500 hrs and 1600 hrs in the Embassy. In case Wednesday is an Embassy holiday, the meeting will be held on the next working day. To ensure timely action/follow-up by the Embassy, it is requested that, wherever possible, Indian citizens should exhaust the existing channels of interaction/grievance redressal and bring their problems/issues in writing with supporting documents.

Nancy

Horoscopes Aries: March 21 - April 19

Today’s energy will be making you think only about your own relationships, Aries. It isn’t easy to have relationships with others, as you may have noticed. Respective demands of each one in a relationship can be difficult to understand. Moreover, the demands of others can obscure your path or cause you to detour. Consider that the less we ask for in a relationship, the more flexible! Taurus: April 20 - May 20

Some of your demons may come back to haunt you today, Taurus. You could find yourself just battling some of those same old doubts and insecurities that you thought you’d left behind.Your desire for a much higher standard of living will have you preoccupied with money concerns in the middle of the day. These concerns will simply pass over time so just take a deep breath and don’t worry too much. Gemini: May 21- June 21

It might seem like you no longer completely believe in what you’re doing, perhaps because you have been going a little too quickly in your quest to get what you need. It’s very possible that your social life has slowed down a lot now - just when you decided to go full speed in this domain. Surprising what the astral energy can do, isn’t it?

Cancer: June 22 - July 22

Today’s planetary energies will be very demanding, Cancer. As you agonize over whether or not you’re up to “standard,” the planets, in a very cheeky way, respond that you are not! That’s just because you’re moving far too quickly. The change in direction that you’re making at the moment is profound, yet you’re trying to take it lightly. Dare to slow down and go deeper into all that you endeavor. Leo: July 23 - August 22

You seem to want to become old and wise before your time, Leo. Today’s aspects will take you by the hand and lead you back into the heat of the action, experiencing life in all its intensity. Yes, we know you’re really afraid of all this. But if you don’t get back into action, you’ll stay alone in your little corner. The world needs you and likewise you need the world too. Virgo: August 23 - September 22

There is some probability that you’ll want to escape from reality today, Virgo. You aren’t anxious to face a situation that demands that you commit yourself. Is this because you’re afraid that you lack the ability to assume this new responsibility? This is an honestto-goodness chance to fulfill all those dreams of success.

Libra: September 23 - October 22

You face a day of some conflict, Libra. Nevertheless, the discord will prove quite useful. This is probably one of the best opportunities in recent weeks to become aware of some family matters. All These petty matters may have been occurring behind your back for quite some time now. News about a bit of past personal history could surprise you, and perhaps even upset you for a short time. Scorpio: October 23 - November 21

If you admit you’ve made a mistake, people are more likely to forgive you. You have a confrontational day ahead, Scorpio. There’s no doubt that you’re in a stationary position concerning your career. That may be crimping your style somewhat, financially speaking, but you’ll progress more if you assume your responsibility and see your mistakes. Don’t be too critical of yourself! Sagittarius: November 22 - December 21

You may have been wishing for some recognition and appreciation lately. Perhaps you had your eye on a promotion at work. The day ahead will show you which path will be the most productive. In order to succeed, you have to plan everything carefully and focus on one goal. You should be sure you have support for that goal.

Capricorn: December 22 - January 19

If you happen to be training for a new trade, learning a new technique, or perhaps being evaluated after an internship period, you can expect these pursuits to conclude on a high note. You may have been somewhat afraid that those in authority would frown upon your originality, Capricorn. On the contrary, it seems the people in charge appreciate it more than you know. Aquarius: January 20 - February 18

Although you might find the day ahead somewhat stressful, it’s a key day in your professional evolution. Since you’ve lacked inspiration lately, you must not miss the opportunity you’ll be presented with today. You could find out about an internship in a new field, which may lead to a new passion or commitment. Expect to see a new wish for the future forming within you, Aquarius! Pisces: February 19 - March 20

Today the celestial energy will be trying to teach you something, Pisces, specifically, how to share with others. But first you must get to a place where you truly want to share something of yourself. Have you examined your tendency to run away? You seem to be afraid that they’ll overwhelm you or that you’ll owe them something.

ALWATAN DAILY

SPORTS

wednesDAY, may 2, 2012

basketball

Pacers defeat Magic 93-78, even series 1-1

Thunder beat Mavericks to stretch NBA series lead

Indiana Pacers guard Leandro Barbosa (left) of Brazil holds the basketball defended by Orlando Magicguard J.J. Redick during the fourth quarter of Game 2 of their first round NBA Eastern Conference playoff basketball game in Indianapolis April 30, 2012. (Reuters)

INDIANAPOLIS: David West had 18 points and 11 rebounds to help the Indiana Pacers beat the Orlando Magic 93-78 on Monday night and even the Eastern Conference first-round series at one game apiece. Danny Granger and George Hill each added 18 points and Paul George had 17 points and eight rebounds for Indiana. Glen Davis led the Magic with 18 points and 10 rebounds, but he shot 5 for 16 from the field. J.J. Redick scored 13 points and Jameer Nelson added 12 for Orlando. The Pacers were heavy favorites in the series because Dwight Howard, Orlando’s All-Star center, is out with a back injury. Indiana lost Game 1 81-77 on Saturday, and the frustrated Pacers fought hard to

avoid taking a two-game deficit to Orlando on Wednesday. Indiana outrebounded Orlando 26-13 in the second half and held the Magic to 36 percent shooting overall. Indiana has held the Magic below 40 percent shooting in both games. The Pacers won despite making just 2 of 20 3-point attempts and Granger, the team’s leading scorer this season, shooting just 7 for 21 from the field. Orlando led 44-42 at halftime despite shooting just 32 percent from the field. The Magic stayed in the game with 12 offensive rebounds. Davis had 14 points and eight rebounds in the first half. Granger hit a 3-pointer to tie the game early in the third quarter, then Hill made a layup to give the Pacers a 54-52 lead with

7:17 left and bring an uneasy crowd back into the game. Granger’s three-point play extended Indiana’s lead midway through the quarter, and a 3-pointer by Hill made it 6455 and forced Orlando to call a timeout. The Pacers outrebounded the Magic 12-1 during their 22-11 run to start the second half. The Pacers poured it on the rest of the quarter and led 72-57 heading into the fourth. Indiana outscored Orlando 16-2 over the final 6:40 of the quarter and held the Magic to 1-for-8 shooting. George’s stepback jumper on the baseline as the shot clock expired gave Indiana a 78-64 lead with 9 minutes to play, and his three-point play 2 minutes later pushed the lead to 15. -AP

Montanes wins in Estoril Tennis Open

NZ coach Wright to step down after Windies tour ROSEAU, Dominica: John Wright will step down as head coach of New Zealand, after their tour to West Indies. The country’s cricket governing body said on Tuesday. Wright, who took on the role at the end of 2010, had declined an offer to extend his contract, citing a desire to pursue other interests. “I appreciate the offer to extend my contract but after much consideration I feel it’s the right time to move on and look at other opportunities,” the 57year-old said in a statement issued by New Zealand Cricket (NZC). NZC chief David White said: “John has been an outstanding servant for cricket in New Zealand over a long time and it is disappointing to lose someone of his caliber. “We were keen to see him continue his head coach role, however understand and respect his decision to look for another challenge. “We are keen to fill this critical role as soon as possible but are conscious that we need to take the time to find the right candidate who can take us through to the 2015 ICC Cricket World Cup.” A former New Zealand captain, Wright amassed over 9,000 runs in tests and one-day internationals as a left-handed opening batsman before taking up coaching with stints with English county side Kent and India from 2000-2005. As New Zealand coach,Wright oversaw the team’s run to the one-day World Cup semi-final last year and December’s test win over Australia in Hobart, the first on Australian soil since 1985. New Zealand kick off their West Indies tour with two Twenty20 matches in Florida, the first on June 30.

Head coachJohn Wright speaks to the media during a New Zealand Cricket media conference at Bert Sutcliffe Pavilion on May 1, 2012. (AFP)

Followed by five one-day matches and three tests in the Caribbean, in July and August. -Reuters

Kevin Durant #35 of the Oklahoma City Thunder drives around a Nick Collison #4 screen against the Dallas Mavericks in Game Two of the Western Conference Quarter-finals in the 2012 NBA Playoffs on April 30, 2012. (AFP)

ing fouled by Terry with 50 seconds to play and Harden hit two more free throws with 25 seconds remaining after being fouled by Shawn Marion to give the Thunder a 100-97 lead. Terry made a driving layup with 20 seconds remaining to pull Dallas within one point but the Mavericks were forced to foul again to stop the clock and Harden sank two more free throws for a 102-99 lead with 15 seconds remaining. Terry missed a 3-pointer that would have tied the game but Carter grabbed the rebound and threw it back to him for one final chance, which bounced off the rim at the final buzzer to give Oklahoma City the victory. -AFP

Miami turn the heat up on Knicks

Albert Montanes of Spain returns the ball to Matthew Ebden of Australia during their men’s singles match at the Estoril Tennis Open in Jamor May 1, 2012.

Cricket

OAKLAHOMA CITY: Russell Westbrook scored 29 points and NBA scoring champion Kevin Durant added 26 to lead the Oklahoma City Thunder over defending champion Dallas 102-99 in an NBA playoff game. The final eight Thunder points came from the free throw line as the hosts held off the Mavericks down the stretch to seize a 2-0 lead in the firstround Western Conference best-of-seven series. Game three will be Thursday at Dallas. “We just came out and won with our hearts,” Westbrook said. “Definitely we did a good job of getting good stops. That is what got us the victory.” Durant struggled from the field, making only 5-of-17 shots, but went 14-of-16 from the free throw line and grabbed 10 rebounds. “He’s a scorer,” Westbrook said of Durant. “He is the best scorer in the league. He has been doing it for us all season long and he is going to continue to do it for us.” James Harden added 15 points for Oklahoma City, going 10-of-10 from the free throw line. Dirk Nowitzki scored 31 points to lead the Mavericks, the German star going 10-of-19 from the field but perfect in 11 attempts from the free throw line. Nowitzki scored 20 points in the first half when Dallas began a fightback. The Mavericks fell behind by as much as 16 points in the second quarter but rallied within 57-50 at half-time and 79-77 entering the fourth quarter. Back-to-back 3-pointers by Westbrook and Derek Fisher put the Thunder ahead 92-88 but Nowitzki followed with a 3-point play on a layup and free throw to pull Dallas back within a point. Durant and Dallas’ Jason Terry exchanged baskets, then Oklahoma City’s Kendrick Perkins and Nowitzki exchanged free throws, leaving the Thunder ahead 96-95 with 3:02 remaining. Vince Carter connected on a bank shot to give the Mavericks a 97-96 lead. But Durant hit two free throws after be-

MIAMI: Carmelo Anthony scored 30 points for the New York Knicks but his team still came up short as Miami’s ‘Big Three’ took charge to lead the Heat to a convincing 104-94 victory in the NBA playoffs on Monday. Dwyane Wade top-scored for the Heat with 25 points, Chris Bosh made 21 and LeBron James had 19 plus seven rebounds and nine assists as Miami grabbed a 2-0 lead in their Eastern Conference first round playoff series. New York’s Anthony scored 15 points in the first quarter but Miami never truly looked in any danger of losing even if this was a much closer affair than their victory in Saturday’s opener when they won by 33 points. For the Knicks, their 12th consecutive loss in the playoffs tied the league record and their woes were compounded with a post-game hand injury to forward Amar’e Stoudemire. Stoudemire suffered a serious cut to his left hand and had to leave the arena wearing a sling with the hand bandaged. While the team gave no details of the injury, several reports suggested he may have struck a fire extinguisher as he headed to the locker-room. The Knicks, already without injured point guard Jeremy Lin, can ill-afford to lose Stoudemire for the upcoming two games at Madison Square Garden,

especially given the way the Heat performed in all areas on Monday. “It was a good team win,” said Miami head coach Erik Spoelstra. “A lot of guys contributed on both ends of the court.We did what we are supposed to do. It’s nothing more than that.” His counterpart Mike Woodson, however, had no doubt who had caused his team the most pain. “It’s no big secret. Those are three All Stars. Three finishers, guys that were in the finals last year and they are playing like that right now,” he said. Although they briefly fell behind in the second quarter as Anthony continued his superb shotmaking, the Heat led 53-47 at halftime, largely thanks to the efforts of Wade, who had 19 of his points by the break. Anthony played the entire second half but the Knicks’ over-reliance on their leading performer was in stark contrast to Miami’s teamwork with six Heat players reaching double figures. “That’s one of the most efficient games we’ve had all year, probably the last two years we’ve been together,” said James. “When we play as a team like that we’re going to be hard to beat. We had 28 assists on 38 field goals, that’s a really good game,” he added. The seven-game series moves to New York for games three and four on Thursday and Sunday. -AP

Aussie cricket coach backs Ponting for Ashes MELBOURNE: Australia coach Mickey Arthur Tuesday backed veteran batsman Ricky Ponting to be a key figure in next year’s Ashes series in England, saying the former skipper was “not going anywhere”. Australia are fresh from a successful 2-0 tour of the West Indies but Michael Clarke’s men have no further Tests until their home series against South Africa in November. Ponting was dumped from Australia’s one-day international squad in February, meaning he will not be playing much cricket in the lead-up to South Africa. But Arthur moved to quash speculation that the 37-year-old champion runmaker could be leaving the team. “I know there was a lot of media pressure and talk around Ricky, but Ricky’s not going anywhere,” Arthur said on his return from the West Indies. “We hope Ricky’s scoring enough runs to go to the Ashes in England. “Ricky is definitely no way considering retiring, I wouldn’t have thought from my conversations with him, and he’ll be fit and ready to go against South Africa.” Ponting has played 165 Tests over 17 years and is Australia’s all-time top runmaker, but his position has come under scrutiny. Despite tough conditions in the West Indies, he helped put Australia in a commanding position in the third and final Test but his highest score on the tour was just 57.

Australia’s Ricky Ponting, (left) applauds as teammates hug captain Michael Clarke, third from (right) after Clarke caught out West Indies’ Kemar Roach for two runs during the second innings on the final day of their third cricket Test match in Roseau,Dominica, Friday. April 27, 2012. (AP)

That innings ended in bizarre fashion when he ducked under a Kemar Roach bouncer but left his bat sticking up like a periscope, only for the ball to hit it and fling a catch to Shivnarine Chanderpaul. “I feel sorry for the bloke because he has been batting beautifully and again

it will give ammunition to some bloody journalist back home,” his partner at the crease Ed Cowan said after the match. Arthur said difficult conditions and unlucky circumstances affected Ponting’s run total of 146 over the three Tests in the West Indies at an average of 24.33. -AFP

wednesDAY, may 2, 2012

SPORTS

Sports Editors Highlight

TURKEY: Top sides Galatasaray, Fenerbahce, Trabzonspor and Besiktas are among several teams set to appear before the country’s Professional Football Disciplinary Board (PFDK) over alleged match-fixing which has rocked Turkish football. Turkish football federation (TFF) chief Yildirim Demiroren told a televised press conference on Monday that the PFDK would deliver its verdict within 48 hours after hearing all the defense statements. Demiroren downplayed the scandal which focuses on some 22 matches implying that results were not affected by the alleged fixing. The PFDK’s internal process however is independent from an ongoing trial process involving nearly 100 Turkish club managers and players, including first division Fenerbahce boss AzizYildirim. -AFP

Football

Title race heading for tightest finish since 1989

English FA prepares to appoint Hodgson as coach LONDON: Roy Hodgson was all set to be named England manager on Tuesday after talks with the FA at Wembley on succeeding Fabio Capello in the hot seat. The West Bromwich Albion manager was the sole candidate approached for the job and met a four-man Football Association panel for around four hours on Monday for discussions that were described as “very positive”. A news conference was called for Tuesday afternoon after Hodgson had returned to Wembley. Newspapers reported that the 64year-old was likely to be offered a contract taking him through to at least the 2014 World Cup finals in Brazil and probably Euro 2016. Hodgson’s current contract with his mid-table Premier League side expires at the end of June, meaning that the FA will

not have to pay any compensation. Neither Hodgson nor the FA made any official comment, although he was spotted leaving the Wembley headquarters on Monday evening with a copy of England’s draft itinerary for Euro 2012. The tournament in Poland and Ukraine, which starts next month, will be the new manager’s first challenge. The FA said on Sunday that West Brom had granted permission for them to speak to Hodgson about a role that has been vacant since Italian Capello quit in February. Hodgson’s impending appointment has divided opinion in England, with fans pleased to have an Englishman back in charge but Tottenham Hotspur manager Harry Redknapp the more popular choice with supporters and players. Redknapp said on Monday that he

bore no grudges at being overlooked and wished the former Switzerland, Finland and United Arab Emirates coach all the best. “I like Roy, he’s a top man and I’m sure he’ll be a success,” Redknapp said. Dubbed ‘Mr Average’ by sections of the media, Hodgson commands respect for what he has achieved with less fashionable clubs, as well as his international standing and command of foreign languages, but no great measure of excitement. He was sacked after 18 months as manager of Blackburn Rovers and just six months after taking the helm at Liverpool Former England international defender Gary Neville said the man who took Fulham to the Europa League final and also coached Inter Milan in Italy, would face a big test in the next few months. -Reuters

Euro-Acid test for world-class Ronaldo Manchester City’s Carlos Tevez (right) beats Manchester United’s South Korean midfielder Park Ji-Sung during their English Premier League match, April 30, 2012. (AFP)

MANCHESTER: The English title race is heading for its tightest finish in 23 years after Manchester City’s 1-0 win over Manchester United on Monday left the teams level on points at the top of the Premier League table. With two matches to play, both Manchester clubs are on 83 points but City lead on goal difference. Roberto Mancini’s City have scored 88 goals and conceded 27 for a goal difference of 61 while United have scored 86 goals and conceded 33 for a difference of 53. Not since Arsenal and Liverpool finished level on points in 1989 has the title race been so close when the teams finished level on points (76) and goal difference (37). Arsenal’s Michael Thomas scored with almost the last kick of the final game of the season to give his side a 2-0 win at Liverpool that clinched the title by virtue of Arsenal having scored more goals over the season. Such neck-and-neck finishes are rare. Prior to 1989 the last time it happened was 1965 when Manchester United and Leeds United finished level on points and Manchester took the title under a system that separated the sides on average goals scored over the 42 games of the season. On paper, Manchester City have the harder games left this season and that makes United favorites to win the title, according to City manager Roberto Mancini. City’s last two matches are at Newcastle United,

who are chasing a Champions League place, and home to relegation-threatened Queens Park Rangers. United, meanwhile, will host Swansea City and travel to Sunderland, both opponents safe in mid-table. Gary Neville, who retired as a United player last season, told Sky Sports that losing the title on goal difference was manager Alex Ferguson’s “worst nightmare”. “Losing a championship on goal difference is what he always talks about, every single season,” said Neville. As events unfolded on Monday, Ferguson probably thought he was in the midst of a bad dream and lost his temper with Mancini at one point as the pressure boiled over on the touchline in the second half. Ferguson told ESPN he thought Mancini had been “badgering officials” during the match. The United manager was also frustrated after his defensive 4-5-1 system made little headway against City and hardly created a chance in the game. The only goal came when City skipper Vincent Kompany headed home from a corner just before halftime and completed a league double over United this season following a 6-1 win in October. While goal difference may yet have a say, taking six points from their closest rivals could be the key factor in giving Manchester City their first top flight title in 44 years. -Reuters

Robben retains lethal edge for Dutch

LISBON: Record-breaking goal-machine Cristiano Ronaldo is at the peak of his career but the world’s most expensive player still has one unfulfilled ambition - to win a major international trophy for Portugal. The 27-year-old Real Madrid forward’s trickery, pace and ferocious shots will be a highlight for soccer lovers at Euro 2012 where he hopes to captain his country to a long-awaited success. Like his nemesis, Argentine Lionel Messi of Barcelona, Ronaldo has chronically underperformed at international tournament finals. His determination to do well will be stronger than ever after Real Madrid’s failure in the Champions League this season despite their almost certain title success in La Liga. At Euro 2004, when Portugal still relied on the declining powers of Luis Figo and Rui Costa, Ronaldo came agonizingly close to glory but Greece shocked the hosts in the final. A young Ronaldo was left in tears and, though he was picked for the team of the tournament, he scored only twice. If that was a personal disappointment, it was deepened in the three major tournaments that followed when he scored just once at Euro 2008 and at the World Cup finals in Germany and South Africa. His critics say this is the main reason that Ronaldo, like Messi, cannot be compared to past greats like Pele, Diego Maradona or Eusebio, all of whom are remembered for stunning tournament performances. “Cristiano has always had a lot of responsibility since he was 18,” Madrid and Portugal team mate Pepe has said. “People put a lot of pressure on him. The squad needs to give support to Cristiano so Cristiano can be calm and play his football.” Ronaldo’s club record with Manchester United and Real Madrid speaks for itself. Last year he added Spain’s Copa del Rey to his Premier League, Champions League and FA Cup titles at United. This year he hopes he can add La Liga to that list as Madrid fend off Barcelona. He won the FIFA World Player of the Year award in 2008 and two European Golden Boot trophies, including last season when he grabbed 40 league goals, a figure already surpassed this term with 43, exactly the same total as Messi. His success is as much a product of his own hard work as his talent as he has improved himself, and his goal ratio, steadily. He is close to averaging a goal in each game during the last two and a half seasons at Real Madrid compared to 0.5 goals per game in six seasons at United where he developed from a winger into an all-round striker. For Portugal coach Paulo Bento one key task will be to bring

Real Madrid’s Cristiano Ronaldo controls the ball during their Spanish first division soccer match against Sevilla, April 29, 2012. (Reuters)

out the best in Ronaldo, enabling him to repeat his club form. Ronaldo was Portugal’s top scorer in the qualifiers and it was one of his trademark tomahawk free kicks that inspired a memorable 6-2 aggregate victory over Bosnia to secure their passage to the finals. -Reuters

Chelsea look for a top four finish over Newcastle Bayern Munich’s Arjen Robben (right) celebrates with Bayern Munich’s Bastian Schweinsteiger during the UEFA Champions League semifinal match, April 25, 2012. (AFP)

ROTTERDAM: A season without injuries may never happen in the whimsical career of Arjen Robben, yet despite all the setbacks he remains the most lethal threat in the Dutch team. When he is fit, and in form, Robben is feared by almost every team in Europe, but the winger’s complete package also contains his inconsistency, caused by injuries, with a special vulnerability to muscle strains. That is why Robben played only three seasons at Chelsea and two at Real Madrid. Since joining Bayern Munich in 2009, however, his dynamic contribution to a team has been revalued even if it is accepted that he is unlikely to complete a full season. In 2010, a week before the start of the World Cup, Robben sustained a hamstring injury which would normally have ruled him out of the tournament. But Netherlands coach Bert van Marwijk retained faith in Robben and his medical staff and he was kept behind for a week’s special treatment, joining the squad later in South Africa. He made his first appearance in the third group match, a dead rubber against Cameroon, and then scored in the last 16 meeting with Slovakia and the semi-final against Uruguay. He was the only Dutch player to find two scoring opportunities in the final against Spain, but was unable to produce a goal or help prevent a rugged Dutch team

from losing a third World Cup final. Since then, the unpredictable Robben has played only twice internationally -- against Brazil in June 2011 and at Wembley against an injury-hit England in February this year. In the England match Robben opened the scoring after an impressive 60-metre run from his own half and snatched victory with a precise curled shot in added time. In five seasons in London and Madrid, Robben played 117 league matches and scored 26 goals. In Munich, in the first two seasons under compatriot coach Louis van Gaal, Robben has scored 39 goals in 60 league matches. He has also helped Bayern into a second Champions League final in three seasons and could yet end the season with a double of Champions League and Euro 2012 winners medals. This Dutch side is recognized already as a good one and in the last eight years, since the Euro 2004 finals, Robben has played in 44 matches, finishing a loser only three times. Van Marwijk has to work out a plan to find the right balance of training and rest for Robben to give him a chance to be at his best and bid for more honors. Remarkably, at 28, he has already won five championship titles in the Netherlands, England, Spain and Germany. Now he wants to win something with the national team. -Reuters

LONDON: Stamford Bridge hosts a huge game in the race for a top-four finish when Newcastle United visit Chelsea on Wednesday evening. The home side go into the match with Champions League and FA Cup finals looming and the Blues will be high on confidence following a 6-1 hammering of QPR on Sunday afternoon. “It’s great for the club that we have all these players full of confidence and everybody wants to play,” said manager Roberto Di Matteo. “The whole team looks full of confidence and that is the only way we can be successful. After Champions League games the next Premier League match often proves difficult, so the team surprised me. I was hoping for a good performance but I wasn’t expecting that. They really put in a great performance. It’s great to see this team ethic and team spirit from all these guys. I was always pleased with his contribution,” continued Di Matteo after Fernando Torres bagged a hat-trick at the weekend. “In the past he was always working hard for the team and providing assists so I had no problem with his contribution. But I’m pleased for him that he scored a hat-trick. It’s great for his confidence.” Newcastle are fifth in the table and level on points with Spurs in fourth, but the Magpies suffered a disappointing 4-0 defeat to Wigan on Saturday and face a tough run-in, with Manchester City at home and Everton away still to come. “When you have a day when everything didn’t go for us, it’s tough,” said manager Alan Pardew. “Goals went in early, and we lost our heads. The only thing we can lean on is the second half, when I thought we were disciplined. Wigan only had a couple of chances in the second half, and one was a mistake by

us. We had two or three great chances to score, Papiss hit the post and bar, and the keeper made two good saves. We’ll take that into Chelsea. The intensity of our play was missing,” added Pardew. “That’s what has got us our success this season. We’ll work on that between now and Wednesday, because we couldn’t match Wigan’s intensity. This team doesn’t have to measure itself against anybody. But

we want to give our fans an end to the season they can be proud of. Only the top four can better Chelsea for the number of home wins this season, while only the two Manchester clubs have scored more on their own turf. No team in the top half of the Premier League has conceded more goals away from home than Newcastle this season, but only the top three have scored more. -AP

FILE - Newcastle United’s Gabriel Obertan (right) challenged by Chelsea’s Branislav Ivanovic during a English Premier League soccer match, Dec. 3, 2011. (Reuters)