May 28, 2012 by Al Watan Daily

MONDAY, MAY 28 , 2012

@alwatandaily

Issue No. 1448

20 PAGES

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150 Fils with IHT

Late budget approval to delay pay increments

Staff Writers

KUWAIT: The recent pay increases and allowances will not be deposited in June as originally scheduled due to the government’s delay in approving the link budget, an informed official source affirmed on Sunday. The source further pointed out that the government cannot overstep the law by finding the funds necessary to pay the increments, adding that the National Assembly has equally breached the law by its failure to approve the budget in April as enshrined in the Budget Law. Additionally, the source noted that the government will ask the Parliament to speedily debate and endorse the budget even if this means holding extraordinary sessions for this purpose. In another development, members of the Majority Bloc have relayed a message to the government that it should seize the opportunity at hand by carrying out a Cabinet reshuffle in which ‘controversial’ ministers would be replaced with elements able to move the country beyond the ‘critical’ phase. An informed source close to the majority, who attended the bloc’s meeting at MP Mohammad AlKhalifa’s diwaniya on Sunday in Jahra, indicated that members of the bloc have decided to give His Highness the Prime Minister Sheikh Jaber Al-

Mubarak Al-Sabah an ultimatum throughout the coming week to dismiss the Minister of Social Affairs and Labor Ahmad Al-Rujaib or else the latter will face questioning from MP Al-Saifi Al-Saifi. He warned that all members of the bloc will back the would-be interpellator; hence Al-Rujaib will meet the same fate as the outgoing Minister of Finance Mustafa Al-Shamali. Members of the bloc listened to a presentation by Al-Saifi who explained the items highlighted in his interpellation and the reason for his adamancy to question the minister before any other MP does. Al-Saifi asserted that he had agreed with the Majority to file an interpellation against the minister of social affairs early next week, noting that the issues contained in his interpellation motion will be presented beforehand to the Majority’s Coordinative Committee. “The government has a good opportunity to effect a Cabinet reshuffle which is in tandem with the demands of the majority,” Al-Saifi stated. He added, “Our hands are extended to the government to endorse laws that serve the best interest of the people. However, the Cabinet should not include provocative elements.” Sources have indicated that members of the majority have rejected a minor Cabinet reshuffle with the aim of keeping the outgoing finance minister after he has been ‘rebuffed’ by the majority

Three tons of rotten food items busted by Ministry of Commerce

who represent the people in Parliament.The participants at the said meeting have reportedly stressed that Al-Shamali’s resignation should be accepted or else he will face a vote of no-confidence against him as scheduled. On the other hand, members of the majority have decided that the intended interpellation against the Defense Minister Sheikh Ahmad AlKhaled be further postponed on the grounds that his questioning is inconvenient at the moment. Meanwhile, MP Mohammad Al-Khalifa explained that an agreement has been reached to devote the coming period to the endorsement of anti-corruption bills. With regard to the payment of 2.16 billion US dollars to the Dow Chemical Company, members of the Majority Bloc agreed on the formation of a neutral investigatory panel into the case to determine those who accepted the deal only to opt out later. This comes at a time when the government intends to involve the Parliament as a party for addressing the issue and accepting any solution it envisages with this regard. Correspondingly, the oil sector has compiled a report containing details of the Letter of Intent which was addressed to the Dow Chemical Company and the paperwork that took place as well as the parties that were involved in the negotiations.

Kuwait cracks whip on traffic violators

Mervat Abduldayem Staff Writer

Do not collect donations at diwaniyas: Ministry

Staff Writers

KUWAIT: As a number of MPs and clerics have called for the collection of donations for the Syrian people following the recent massacre committed at Houla three days ago, the Ministry of Social Affairs and Labor asked all people not to collect or pay donations inside diwaniyas, calling on donors to send funds only to listed charity organizations that have already obtained licenses for the collection of donations from the ministry. The ministry considers collecting donations in Diwaniya as a violation, therefore it has asked all to abide by regulations. The organizations that are authorized for collecting donations are the International Islamic Charitable Organization (IICO), Islamic Heritage Revival Society, Abdullah Al-Nouri Charitable Organization, Social Reforms Organization, Kuwait Bar Association, Najat Charitable Organization and Family Development Society.

UN meets over massacre, Syria blames rebels

Demonstrators protest in front of the Syrian consulate in Istanbul on May 27, 2012 against the regime of Syrian President Bashar Al-Assad. (AFP)

DAMASCUS: Diplomats at the United Nations said the Security Council had set up a meeting at 1830 GMT on Sunday in the wake of the massacre, as Russia put off moves by members to release a statement on the killings. Britain and France had proposed a statement condemning the massacre, but diplomats said Russia would not agree to the condemnation until a briefing was given by the head of the UN mission in Syria, Major General Robert Mood. The regime was “not at all” to blame for the massacre in Houla in central Homs province that sparked an international outcry, foreign ministry spokesman Jihad Al-Makdissi insisted. Blaming “terrorists” for the killings on Friday and Saturday, Al-Makdissi said Damascus had opened an investigation, with results expected within three days. “Not one Syrian tank

IMF chief sparks Facebook war by Greeks

Supporters of opposition parties from the coalition “The Georgian Dream” take part in a mass anti-government protest gathering in the streets of the capital Tbilisi, May 27, 2012. (Reuters)

Mali split deepens after northern rebels unite

the two groups said in an agreement sent to AFP Saturday. “The two movements have created the transitional council of the Islamic state of Azawad,” said the groups, which have been controlling the area for the past two months, in their “protocol agreement”. “We are all in favor of the independence of Azawad,” they said, adding that “we all accept Islam as the religion.” The accord between the secular Tuareg and the Islamists comes after weeks of sometimes fraught discussions between two movements which have long been separated in their objectives and ideoloMore on 5 gies.

ATHENS: Greek web users waged Facebook war against IMF head Christine Lagarde on Sunday after she accused their countrymen of dodging taxes. The French managing director of the International Monetary Fund received more than 10,000 messages, many of them obscene, on her page on the online social network - where her postings typically draw a couple of hundred comments. By late Sunday afternoon a separate Facebook page had sprung up titled “Greeks are against Lagarde”. Its creators described it as “the page through which to show displeasure as a nation towards Lagarde!”, with a picture of the IMF chief. Greeks accused Lagarde on her page of belittling their suffering in an economic crisis that has seen salaries and pensions cut, in a recession now in its fifth year. Lagarde told Britain’s Guardian newspaper in an interview published Friday that Greeks must “help themselves” by all paying taxes, saying she was more concerned about Africans in poverty than Greeks in the economic crisis. “You should say that to the relatives of the 3,000 Greeks that have committed suicide, to the one million unemployed,”

wrote a Facebook user under the nickname Ntavos Paok. “You should tell your countrymen, who were many years in colonial Africa enriching themselves by stealing from the grandparents of the children you so hypocritically think of by comparing them with Greeks.” Retired civil servant Christina Tsekoura wrote of the hardship of her and husband whose pensions have been cut and who pay housing tax as well as supporting their unemployed daughter. “My family does not owe one euro to the tax office, to a public agency or a bank in Greece or abroad,” she wrote. “We believe in honesty, hard work and merit. I forbid you from equating me with thieves and taunting my family.” Greece made a deal in 2010 to receive hundreds of billions of euros (dollars) from the IMF and the EFSF, a European Union bailout fund, to rescue it from financial collapse, in return for tough reforms. One Facebook user, Litsa Sterp, resorted to ancient Greek wisdom, quoting the first-century scholar Plutarch: “Flee the hostile and tyrannous money-lender who interferes in your freedom and attaches conditions.”-AFP

went in” to Houla, he said. Al-Makdissi added that Kofi Annan, the UN-Arab envoy to Syria, was expected in Damascus on Monday, although there was no confirmation from Annan’s spokesman. In the wake of the Houla killings, exiled opposition head Burhan Ghalioun called for a “battle of liberation” against the regime until the United Nations takes action under Chapter VII allowing military intervention. “I call on the Syrian people to lead a battle of liberation and dignity, relying on its own forces,” he told a news conference in Istanbul. And the rebel Free Syrian Army (FSA) warned that unless the international community took concrete action it would no longer be bound by Annan’’s UN-backed peace plan and his April 12 ceasefire which has been violated daily. See also 4

Harnessing plant-invading fungi for fuel

German teenager enslaved for years in Bosnia

KARAVLASI: A teenage German woman has been rescued from a Bosnian couple who are accused of starving and beating her for years and of harnessing her to a horse cart and making her pull it. The 19-year-old, kept in a hamlet near the northeastern town of Kalesija since 2004, had been taken to safety and the couple had been detained for investigation, regional prosecutors said on Sunday. Damir Arnautovic, a spokesman for the prosecution in Tuzla, told Reuters Television the woman had been in a bad physical and psychological state and had no papers. She was not named. He said Milenko Marinkovic, 52, and his wife Slavojka, 45, had been detained on suspicion of treating the woman in an inhuman way, “forbidding her any con-

tacts with people, forbidding her to attend school.” The woman’s German mother had once been married to Marinkovic, although the woman had a different father. Her mother still lives in the hamlet and told reporters there to go away. Arnautovic said the mother had been interrogated by the police as a witness and her role was being investigated. The neighbor who had tipped off police said the woman had been forced into hard labor and was covered in bruises and scars. Cazim Makalic once witnessed Marinkovic harness the girl to a horse cart and forced her to pull it with him and his friend sitting in it while he whipped her, he said. “I could not watch them beat and starve her any more,” he said. -Reuters

Palestinian Airlines resumes flights after 7 years

MARKA AIRBASE, Jordan: Palestinian Airlines is back in the skies after being grounded for seven years by the deepening enmities of the Israeli-Palestinian conflict. Once hailed as a symbol of Palestinian statehood dreams, the carrier is a tiny operation, with just two 48-seat turboprop planes, two weekly flights and a borrowed hub in Egypt. But Palestinians say just being on the map again is what matters. “My hands were shaking when I bought the ticket ... and it said the name of the carrier is Palestinian Airlines,” said recent passenger Zuhair Mohammed, a 38-year-old teacher from Gaza. The 15-year-old airline’s fortunes have been closely tied to the quest for a Palestinian state. In the late 1990s, when Palestinians appeared on the verge of a statehood deal with Israel, Palestinian Airlines operated from Gaza International Airport, flew tens of thousands of passengers a year to Middle Eastern destinations and planned to expand to Europe. Those ambitions were crushed by the outbreak of a Palestinian uprising against Israeli occupation in September 2000, following the collapse of U.S.-led peace talks. Over the next year, Israeli troops destroyed the Gaza airport, and Palestinian Airlines was forced to move its base to El-Arish, an Egyptian coastal More on 16 resort about 60 kilometers from Gaza.

Protesters take to the streets during a march in Hong Kong May 27, 2012. The demonstration was to mark the upcoming anniversary of the military crackdown on the pro-democracy movement in Beijing’s Tiananmen Square on June 4, 1989. (Reuters)

ALWATAN DAILY

kuwait

monDAY, may 28, 2012

Cabinet discusses Dow circumstances, university admission

Foreign ministry undersecretary receives credentials of newly-appointed ambassadors KUWAIT: Foreign Ministry Undersecretary Khalid Suleiman Al-Jarallah received on Sunday a copy of the credentials of newly-appointed ambassadors to the State of Kuwait. He received the credentials of Ambassador of Ghana Abdullah Salifu, Ambassador of Tanzania Ablah Hard Omar and Ambassador of Gambia Omar Gabriel Sala.

The credentials-receiving ceremony was attended by Foreign Ministry Protocols’ Director Ambassador Dhari Ajran Al-Ajran and Al-Jarallah’s office director Ayham Abduallatif Al-Omar. Later, Al-Jarallah received China’s Vice Foreign Minister Zhang Zhijun, who is visiting the country. They held official talks on promoting bilateral ties. -KUNA

Leading Kuwaiti legislator affirms significance of inter-GCC cooperation

FILE -The Cabinet is seen holding its weekly meeting under the chairmanship of the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah on Monday, May 21, 2012. (KUNA) Mutairan Al-Shaman and Mohammad Al-Hajri Staff Writers

KUWAIT: An informed source told Al-Watan that the Cabinet will approveduring its weekly session held today the resignation of the Deputy Prime Minister and the Minister of Finance Mustafa Al-Shamali. Meanwhile, the Minister of Education and the Minister of Higher Education Dr. Nayef Al-Hajraf is expected to hold the position as an acting minister of finance until conducting a reshuffle soon.

The Cabinet is also expected to refer the points, which were discussed in the motion, to an investigation committee to unveil whether the violations that were mentioned in the motion are true or not. In the meantime, the Cabinet will extol the hard efforts of the finance minister and his replies during the motion. The source said that the answers of the minister reflected his interest in protecting the public fund and abiding to the laws of the Constitution. The Cabinet will discuss the results of the meeting that the premier held with the members of Oil Supreme Council last

Thursday on Dow Chemical issue. On his part, the Minister of Public Works and the Minister of Development Fadhel Safar will submit a report on the progress of the third annual development plan and other projects as well, while the minister of education will submit a report on admission at Kuwait University for the academic year 2012/2013. During the very session, the Cabinet will discuss a plan for accepting all students who meet admission conditions at Kuwait University and the Public Authority for Applied Education and Training as well as local and international scholarships.

Sheikh Ahmad Al-Fahd selected President of Olympic Solidarity Commission KUWAIT: International Olympic Committee (IOC) has selected Chairman of the Association of National Olympic Committees (ANOC) and Chairman of the Kuwaiti Olympic Committee Sheikh Ahmad Al-Fahd Al-Sabah as President of the Olympic Solidarity Commission at a meeting of the Executive Office of the Commission, which concluded in Quebec, Canada, late on Saturday. ANOC’s Secretary General Gunilla Lindberg told Kuwait News Agency (KUNA) here on Sunday that the selection of Sheikh Ahmad to head this Commission

is an asset to the International Olympic movement as he possesses adequate administrative and sports expertise that will be reflected on the development work of the Commission to serve youth sports in the world. She added that the selection of Sheikh Ahmad also reflects the confidence he enjoyed by the International Olympic movement’s leaders, especially after his concrete efforts to develop ANOC during a brief period. She explained that Sheikh Ahmad having to lead the two committees will contribute to the unification of visions

between the two significant sport organizations on the international arena, in addition to improving the quality of athletes and national Olympic committees. Gunilla pointed out that Sheikh Ahmad will take upon himself supporting and developing Olympic programs and rehabilitation of players and athletes in various countries around the world which are supervised by the Olympic Solidarity Commission to enable them to achieve the desired goals and improve the quality of this group of young people to serve the Olympic movement. -KUNA

JEDDAH: The chairman of the external affairs of Kuwait’s National Assembly, Member of Parliament (MP) Mohammad Al-Sager, affirmed necessity of supporting all forms of cooperation among member states of the Gulf Cooperation Council at the foreign and defense levels. External and defense policies of the Gulf Cooperation Council (GCC) states should be unified, said Al-Sager, affirming that the solid ties bounding the member states of the council enabled them survive turbulent regional conditions. He made the remarks to Kuwait News Agency (KUNA) following a banquet held, on Friday, by the deputy chairman of the Saudi Shura Council, Dr. Mohammad Al-Jifri, honoring Al-Sager and other members of the Kuwaiti Parliament, currently on a visit to the kingdom. The delegation includes MP Hamad Al-Mutar, MP Ali Al-Deqbasi, MP Mubarak Al-Waalan and MP Ammar Al-Ajmi.

On Kuwaiti-Saudi relations, Al-Sager said the kingdom “constitutes the strategic humanitarian and regional dimension of the State of Kuwait and the other GCC states,” indicating at substantial harmony of the foreign policies of Kuwait and Saudi Arabia. Regarding objective of the Kuwaiti parliamentary delegation, he said that it was aimed at holding talks with Saudi counterparts on various issues namely Syria, Iran, Iraq and Lebanon. The delegation is also visiting Qatar and Bahrain, he said, regarding its current schedule, indicating that the MPs would later visit the UAE and Oman. On question of establishing federation among the GCC states, Al-Sager said the delegation would listen to views of the Saudis about this issue, noting some opposition to the proposal in the Kuwaiti parliament. The delegation arrived in Jeddah on Friday. -KUNA

Albanian President arrives Kuwait on three-day visit

KUWIAT: Albanian President Bamir Topi arrived in Kuwait on a three-day visit on Sunday, during which he will meet His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah. Receiving the leader at Kuwait International Airport was His Highness the Amir, His Highness the Crown Prince Sheikh Nawaf Al-Ahmad AlSabah, National Assembly Speaker Ahmad AlSaadoun, Deputy Commander of the National Guard Sheikh Mishaal Al-Ahmad Al-Sabah, HH the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, First Deputy Premier and Interior Minister Sheikh Ahmad Al-Humoud AlJaber Al-Sabah, Deputy Minister of Amiri Diwan Affairs Sheikh Ali Jarrah Al-Sabah, other senior officials and senior officers in the army, police

and national guard. A delegation tasked with accompanying the guest was headed by Amiri Diwan Advisor Abdullah Al-Maatouq, while Topi’s delegation includes Deputy Foreign Minister Selim Belortaja. Spouse of visiting Albanian President Bamir Topi; Teuta, and her accompanying delegation visited here Sunday, Kuwait’s Scientific Center. Mrs. Topi toured the center and listened to a presentation by officials on its important and civilized role in providing scientific services and entertainment. The guest was escorted by assistant undersecretary for historic documents and libraries at the Amiri Diwan Sheikha Mona Jaber Al-Abdullah Al-Sabah. -KUNA

Kuwait cracks whip on traffic violators MANAMA: Traffic authorities in Kuwait are urging motorists to be more cautious on the road and to observe road discipline, reported Gulfnews The call came after authorities recorded 7,272 violations in the six governorates over the weekend. According to a report by local Arabic daily Al-Anba, 487 cars were impounded and two drivers were referred for legal action. A total of 116 vehicles were seized in the capital, followed by Hawalli with 107. The vehicles were seized for serious traffic violations. Hawalli tops the list of traffic violations with 2,090. The Mubarak Al-Kabir Governorate had the lowest recorded violation with 37 with two cars impounded. The authorities said 281 drivers were booked for using their mobile phones while driving. “We urge all drivers to adhere to a high sense

of road discipline and full compliance with traffic signs,” traffic officials said. Kuwait has one of the highest traffic accident rates in the world despite repeated campaigns to promote awareness and reinforce road discipline. The police have recently taken a major step forward to monitor, track down and apprehend offenders with the deployment of “smart patrols” on the country’s roads, Kuwait News Agency (KUNA) reported. Efforts to use the latest technology to enforce the law were based on cooperation between the information technology sector of the Ministry of Interior, the police and traffic commands, Mohammad Al-Mansouri, head of operations of the traffic general directorate and a supervisor of the project, said. A “smart patrol” is equipped with sensors, radar systems and cameras for monitoring all activi-

ties and movements around the police vehicle. The system automatically detects and registers number plates of cars and scans the car record to determine whether its status is legal or whether the driver’s record is clean, he said. The radar can monitor up to 40 vehicles per minute and images of the activities on the roads are automatically transmitted to the operations room of the ministry or any other affiliated facility. Data in the system attached to the patrol car can be updated automatically every 30 minutes. Each of the 20 “smart cars” deployed in areas notorious for recurring problems and law-breaking actions is equipped with a voice system that alerts the officer about the status of a passing car. Al-Mansouri said that the “smart patrols” of the traffic police had registered 2,055 cases of insurance expiry and 92 “wanted vehicles” in 2011 and 2012. -Agencies

FILE-Photo obtained online showing traffic jam on Kuwait roads.

Metro project to be operational by 2020

KUWAIT: Plans are moving ahead for Kuwait’s country-wide metro system, which is hoped to address the growing issue of congestion and create a better environment for growth in commercial, business, industrial and residential markets. In late March, the Partnerships Technical Bureau (PTB) invited contractors to express interest in a variety of contracts to develop rolling stock and systems for the Metropolitan Rapid Transit System Project (KMRT). A month earlier, the PTB signed off on a feasibility study for the seven billion US dollar metro. The project is expected to be completed in five phases, with construction beginning in 2013. Upon completion, it will span more than 160 kilometers and be serviced by 69 stations. PTB plans to give winning bidders 40 percent to 50 percent of the shares in ‘designbuild-finance-maintain’ infrastructure packages. PTB has stated it expects the Metro to begin operating by 2020, and that the first phase of the development will extend more than 54 kilometers and be serviced by 28 stations, nine of which will be underground. “As the first public transport public-private partnerships (PPPs) in the country, the various procurements for the KMRT System

FILE - An image obtained from online shows Kuwait’s metro network that is planned to be implemented by 2020

are expected to contribute extensively to the realization of the philosophy of a multimodal and integrated public transport network,” PTB said in a statement.

The Metro is the first of a number of PPPs planned by the government as part of a $132.65 billion infrastructure overhaul plan. Other transport initiatives include the

22.5-kilometer Al-Ahmed Bridge, which will $2.63 billion and connect the mixed-use Silk City project with Kuwait City. Also in the works is the construction of 550 kilometers of railway as part of a planned $25 billion Gulf network, which aims to link Gulf Cooperation Council (GCC) member states. Pundits say the Metro will be crucial to the nation’s development, particularly in light of its expected population increase - from 3.6 million in 2010 to 5.3 million by 2030, according to market research firm Euromonitor International - and high levels of traffic congestion within the metropolitan area. Speaking at the Kuwait Infrastructure Investment summit in late March, Abraham Akkawi, the head of infrastructure and PPP advisory services at UK-based accounting firm Ernst & Young, said the building of a Metro was a long-term commitment, and that this was the right time to launch such a plan. “Kuwait is going through a major transformation in its infrastructure. Therefore it makes sense to anchor it with one of the most elaborate projects.” Adding further to the growing support of transport infrastructure development, the Ministry of Works (MoW) revealed that Kuwait will soon launch a $2.51 billion-$2.87

billion initial tender for construction of a second terminal at its international airport. Hossam Al-Tahous, the undersecretary for the MoW, told Reuters that the project should be finished by late 2016, with solar panels expected to provide about 10 percent of the terminal’s energy supply. In a related development, local media reported that a parliamentary committee had recommended Kuwait amend its laws regarding public tenders to allow foreign companies to participate in biddings directly without the need for a local agent. Previously, troubled negotiations between the cabinet and parliament over policy have been blamed for delays in large-scale infrastructure projects. Under the proposed changes, Kuwait’s Central Bank would be given the authority to deal with investment decisions and to supervise tenders, reported a local daily. In another nod to the government’s commitment to ensuring the smooth progress of its $12.55 billion 2012-13 Development Plan, which includes 324 infrastructure projects such as roads, bridges and government buildings, Public Works Minister Fadhil Safar said on 26 March he would like to expand the private-sector contribution to the development plan. -Agencies

ALWATAN DAILY

KUWAIT

MONDAY, MAY 28, 2012

Al-Saadoun urges authorities to take rapid measures concerning Syria KUWAIT: National Assembly Speaker Ahmad Al-Saadoun on Sunday called on the legislative and executive branches to take quick measures to address the deteriorating situation in Syria. Al-Saadoun said in a press conference that what is going on there is sad and an attempt for cleansing the entire people. “It is also so sad to see the Arabs respond to the Houla massacre only when it happened,” he added. Al-Saadoun pointed out that the parliament and the government need to take specific steps, as “we need to be in contact with the government to arrange for certain procedures such as holding a special meeting to discuss the deteriorating conditions in Syria and the crimes committed there and identify the steps required of us as people and government.” He thanked the government for the measures taken in this respect, stressing the need for the two authorities to provide financial aid to the Syrian people, the Syrian free army, the national council and all opposition. He said the previous assistance extended by the government to the Syrian people must continue, including reception of wounded people. He recalled an agreement already signed between the State of Kuwait with the Syrian government, which is now on the National Assembly’s agenda for revision, as he said that “matters should not remain as they were,” referring to the need for the House to either suspend or withdraw such agreement. -KUNA

Staff Writer

KUWAIT: In one of the country’s biggest bust against rotten food items, the City Inspector team, part of the Ministry of Commerce and Industry, seized three tons and 200 kilograms of discovered unfit food for human consumption, ready for distribution to restaurants across the country in preparation for the holy month of Ramadan. Speaking to Al Watan, Ministry of Commerce and Industry Undersecretary Abdulaziz Al-Khaledi said that his ministry is extremely keen to monitor all food items for the safety of both citizens and expats alike. “The ministry is carrying out the direct instruction of the minister to closely monitor all that is related to the health and well being of people. Such directives are not carried out during office hours. Inspection teams are working during holidays and when illegal traders’ guards are down. The idea is that to strike hard where it hurts,” he remarked.

National Assembly Speaker Ahmad Al-Saadoun during a press conference held at the Parliament on Sunday, May 27, 2012. (KUNA)

The undersecretary added that the inspection teams who are distributed across the country have expanded their work to include not only warehouses in the Industrial Shuwaikh, but also residential areas to the surprise of many as it has been discovered that some of the traders have been stacking the illegal food items in their own houses. The undersecretary warns against using private accommodation for storage purposes especially food items which their expiry dates are well over. He said that the inspection teams are no longer restricting their search in areas where the food items are kept and stored but have also extended their activities and missions to residential areas. “A recently, a meeting had been held with all governorates across the country the purpose of which is to scan through all local markets to examine the prices before the holy month of Ramadan and prior to the expected pay raise,” he explained. On his part, the City Controller and head of

the inspection teams Eid Al-Rasheedi said that their work of close scrutiny of the work of illegal traders of food items came as a result of the directives of the Minister of Commerce and Industry Anas Al-Saleh and under the direct supervision of the Ministry of Commerce and Industry Undersecretary Abdulaziz Al-Khaledi to introduce stricter measures in particular during the holy month of Ramadan which were ready then for distribution to restaurants across the country. “We have received information about the presence of food items not deemed fit for human consumption stacked in one of the warehouses in the area of Industrial Shuwaikh and ready for distribution to restaurants across the country. The warehouse was immediately put under surveillance around the clock. It was decided that the raid would take place during the weekend when the traders are at ease. It was early morning when the team busted the food items. Legal measures were taken against the owners of the warehouses,” he concluded.

Cultural Office in France affirms keenness to offer facilities to students PARIS: Director of Kuwait’s Cultural Office in Paris Dr. Abdulrahman Al-Radwan said Saturday that the office was exerting all efforts to provide the best educational services to all Kuwaiti students in France and other European countries. Al-Radwan made his remarks to Kuwait News Agency (KUNA) after participating along with Cultural Attache Dr. Khaled Al-Dhefiri in a graduation ceremony by the American University in Paris, witnessing the graduation of eight Kuwaiti students. Al-Radwan added that the cultural office was maintaining its course to enhance ties between Kuwaiti educational institutes, and European universities and academic and cultural centers. The Kuwaiti official said that the office was keen on providing care through the Kuwaiti Ministry of Higher Education to all students studying in France and European countries. During the graduation ceremony, Al-Radwan met with the American University in Paris President Celeste Schenck and discussion highlighted issues related to the academic course, and performance of Kuwaiti enrolled students. -KUNA

Director of Kuwait’s Cultural Office in Paris Dr. Abdulrahman Al-Radwan with Cultural Attache Dr. Khaled Al-Dhefiri and Kuwaiti enrolled students. (KUNA)

MoI meets Kuwaiti envoy to Iraq, Bahraini security team First Deputy Prime Minister and Interior Minister Sheikh Ahmad Al-Humoud AlSabah during his meeting with Iraqi and Bahraini security team on Sunday, May 27, 2012. (KUNA)

KUWAIT: First Deputy Prime Minister and Interior Minister Sheikh Ahmad Al-Humoud AlSabah met here Sunday Kuwaiti Ambassador to Iraq Ali Al-Moemin.

Kuwait discusses vaccination plan at WHO conference

GENEVA: Kuwait has covered 95 to 99 percent of its routinely childhood vaccinations schedule since 2008 to 2011, said a Kuwaiti health official at the ongoing World Health Organization (WHO) annual conference. Dr. Sami Al-Nasser, Head of Public Health Services’ at the Health Ministry, said that the country provides vaccines for Hepatitis B, Tuberculosis, Influenza virus, Measles, Rubella (German measles) and Mumps. This high coverage of the country’s immunization schedule was due to the Ministry’s comprehensive plan of providing the necessary vaccines, both for children and adults, through a free and routinely national vaccination drives carried out through preventive care units, Al-Nasser pointed out. He further said that the Ministry purchases the best vaccines from wellrenowned medical companies. The Ministry also pays utmost attention to the proper storage of these vaccines. The introduction of new vaccines to the country requires extensive study and proper training of the medical staff on them, Al-Nasser explained. He concluded by saying that vaccination is an important precautionary procedure that could prevent death; therefore, the State of Kuwait is concerned with providing the best health care for its people through providing the best vaccination plan. -KUNA

Fundraisers arrive at Syrian refugee camps in Turkey

Three tons of rotten food items busted by Ministry of Commerce Mervat Abduldayem

He then met a visiting Bahraini security delegation. During the meeting, the Kuwaiti minister stressed deep historic relations with the Kingdom of Bahrain, especially in the

security field. He hailed cooperation and coordination between security agencies in Kuwait and Bahrain. -KUNA

ANKARA: Delegation from Kuwait fundraising agencies arrived in Hatay Province, south Turkey, on Saturday to deliver humanitarian aid to the Syrian refugees and oversee the Kuwaiti relief effort. The delegation, made up of representatives of Islamic charities, business people, human rights activists and media people, met some of the refugees displaced by the conflict in Syria, head of the delegation Salah Al-Jarallah told Kuwait News Agency (KUNA). “We’ve inspected three camps to assess the needs of the refugees in collaboration with the Turkish Humanitarian Relief Foundation (IHH) and the Syrian Society for Humanitarian Aid and Development,” Al-Jarallah noted.

He appreciated the efforts of the Turkish and the Syrian organizations in facilitating the mission of his delegation and alleviating the suffering of the Syrian refugees in the border areas. “The Kuwaiti relief efforts for the Syrian refugees include financial assistances, education programs for the displaced students and medical rehabilitation for the persons traumatized by the bloody conflict in Syria,” Al-Jarallah revealed. IHH Chairman Bulent Yildirim spoke highly of the contributions of the Kuwaiti humanitarian organizations for meeting the needs of the Syrian refugees, urging the Kuwait and the Gulf fundraising agency to scale up their efforts in this regard, he added. -KUNA

Service sector still in financial safety: Minister

Minister of Commerce and Industry Anas Al-Saleh giving a speech Saturday, May 27, 2012. (KUNA)

KUWAIT: Minister of Commerce and Industry Anas Al-Saleh said here Sunday the service sector, which is a major component of Kuwait’s economic system, still enjoys financial safety in spite of political, economic and financial challenges. While opening the Forum of Service Companies, the minister said service firms have proved high efficiency since the outbreak of the global financial crisis. Service companies enjoy high financial vitality and efficiency despite all surrounding financial complexities thanks to their monetary flows, he noted. However, he said the future trend is to provide all encouraging facilities to this sector, given that it is a core pillar of modern economies due to its continuing monetary flow.

The development of the Kuwaiti national economy should proceed from the service sector, which can ensure the building of a new Kuwait, the minister added. He stressed the significance of the Forum in highlighting the “impressive” role of the service sector. This gathering is of special importance since it brings under its umbrella a large number of various service firms and banks that boast sufficient potential to ensure successful development projects, the minister pointed out. The service sector largely contributes to consolidating and propping up the infrastructure of the Kuwaiti national economy, he said, adding that a distinguished service sector is conducive to a strong, stable and firm economy. -KUNA

PAAET hosts meet for GCC technical education chiefs Monday

KUWAIT: The Public Authority for Applied Education and Training (PAAET) hosts on Monday the 19th meeting of Gulf Cooperation Council (GCC) officials in charge of technical education and vocational training. PAEET Director-General Dr. Abdul Razzaq Al-Nafisi said in a statement on this occasion that PAAET has completed preparation of this pivotal meeting, which includes intensive workshops and field visits. He added that the most prominent topics of the agenda is a PAEET’s proposal on the establishment of a Gulf Union of education and technical and vocational training, indicating that this meeting will come up with benefits for the GCC citizens through the exchange of experiences of education, technical and vocational training in the GCC countries. He explained that the meeting agenda will take into account the decisions of the Supreme Council on equality between the citizens of GCC countries in the field of technical education and vocational training and focus on guidelines framework of small businesses and business incubators as well as twinning between schools and vocational training centers in the GCC States as well as professional contests among professionals. -KUNA

ALWATAN DAILY

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Voting for Shafiq By Hossam Fathi Staff Writer

After publishing my article yesterday “my vote for Shafiq” several people phoned me and others sent me messages in which some of them asked, “why did you change your stance?” Especially as I have already written many articles against the man. Other callers criticized me saying “how can you vote for him when you had criticized him many times?” In actual fact, the readers who read the article too fast could not understand what was between the lines therefore they criticized me. I am like a lot of Egyptian people who were surprised by the results of the presidential election wherein I wished the candidate Hamdeen Sabahi to win in order to avoid being afraid of the ambitions of the Muslim Brotherhood for dominating the country and followers of the former regime who might reach power again. However, we are looking for democracy and we have to accept all its results if the presidential election was fair and did not witness violations. We have to accept that because we respect the opinions of people if the presidential election is really expressing said opinion. We will discover that after considering the appeals that were submitted by most candidates! The Muslim Brotherhood asked many candidates to attend its meeting in an attempt to get further support in the second round of the election and we hope they will issue a clear statement to assure people that the movement will enable other people and movements to participate in administrating the country. hossam@alwatan.com.kw Twitter:@hossamfathy66

NEWS IN BRIEF Ex-Mubarak aide sentenced to 7 years for graft

monDAY, may 28, 2012

Protests erupt in Syria after massacre, 2 killed Syria blames rebels for Houla massacre

AMMAN: Syrian forces shot dead at least two men on Sunday as protests broke out to condemn a massacre that killed at least 109 civilians, many of them children, in the town of Houla, opposition activists said. The two were killed in the Damascus suburbs of Yalda and Daraya, home to thousands of refugees who have fled a military crackdown on the central province of Homs. One of those killed, 22-year-old Riad Mahmoud, was among a crowd of 2,000-3,000 people who marched in the neighborhood of Yalda on the southern edge of the capital and were confronted by armed members of political security, a secret police division, two activists in contact with the district said. Footage broadcast by activists in Yalda showed a crowd of hundreds at Mahmoud’s funeral shouting “the people want the downfall of the regime”. “The funeral turned into another demonstration against the regime and in support of Homs,” said opposition campaigner Walid Al-Omari. Syria meanwhile, facing growing world outrage over the killings, on Sunday accused rebels of carrying out the massacre. Images of bloodied and lifeless young bodies, lain carefully side by side after the killings in Houla on Friday, triggered shock around the globe and underlined the failure of a six-week-old

UN ceasefire plan to stop the violence. Syrian authorities blamed “terrorists” for the massacre, among the worst carnage in the 14-month-old uprising against President Bashar Al-Assad, which has cost about 10,000 lives. “Women, children and old men were shot dead. This is not the hallmark of the heroic Syrian army,” Foreign Ministry spokesman Jihad Makdesi told reporters in Damascus. Opposition activists said Assad’s forces shelled the town of Houla after a protest and then skirmishes between troops and fighters from the Sunni Muslim-led insurgency. Activists say Assad’s ‘shabbiha’ militia, loyal to an establishment dominated by members of the minority Alawite sect, then hacked dozens of the victims to death, or shot them at close range. UN military and civilian observers counted 32 children under 10 among at least 92 dead on Saturday. More bodies have since been found, activists said. The observers confirmed the use of artillery, which only Assad’s forces have, but did not say how all the victims died. Western countries and Arab states opposed to Assad put the blame squarely on Damascus. The Gulf Cooperation Council of Sunni-led monarchies accused Assad’s soldiers of using excessive force and urged the international community to “assume its responsibilities to halt the daily bloodshed in Syria”. EU foreign policy chief Catherine Ashton spoke of a “heinous act perpetrated by the Syrian regime against its own civilian population” in a statement on Sunday. The head of the European parliament said it could amount to a war crime.

Tens of thousands protest against Morocco government

Israel extends prisoners’ administrative detention

CAIRO: A Cairo criminal court on Sunday sentenced ousted Egyptian president Hosni Mubarak’s former chief of staff to seven years in jail on corruption charges, a judicial source told AFP. Zakaria Azmi was also ordered to pay a fine of 38 million Egyptian pounds (around 6.2 million US dollars), the source said. Azmi was jailed last year and put on trial in October, charged with illegal acquisition of funds. An aide to Mubarak since 1989, Azmi was considered an influential figure in the presidency and in the now-dissolved National Democratic Party. He joins a host of former ministers and officials handed jail sentences following a sweeping investigation into corruption after the uprising that ended Mubarak’s three decade rule. Mubarak himself faces a verdict on June 2 to determine whether or not he was involved in the killing of protesters during the 18-day revolt. -AFP

Saudi Crown Prince heads abroad for medical tests RIYADH: Saudi Arabia’s Crown Prince Nayef has left the country for a trip that includes medical tests. The official Saudi Press Agency says the heir to the throne will undergo the tests during what was described as a “personal vacation.” The report Saturday gave no other details on Nayef’s location. Nayef, who is in his late 70s, had medical tests in March in Cleveland. The kingdom has given no further information. Nayef was named crown prince in October following the death of Prince Sultan. He has served as interior minister for three decades in the oil-rich kingdom. Nayef is considered close to the hard-line Islamic clerical establishment that holds vast power in Saudi, a critical Western ally. -AP

Arrests after Salafists rampage in Tunisia TUNIS: Police have arrested about 15 people after hard-line Islamists went on the rampage, torching police stations and attacking bars selling alcohol in Tunisian towns, the interior ministry said Sunday. Police used tear gas to stop gangs of ultra-conservative Salafists, some armed with clubs and swords, who went on the attack in the northwestern towns of Jendouba and Ghardimaou on Saturday. “About 15 people have been arrested and calm has been restored,” interior ministry spokesman Khaled Tarrouche told AFP, adding that security reinforcements had been brought in to the region. The TAP news agency said national army units had been deployed after the violence to protect public buildings. “The law will be applied. These incidents are dangerous and will be dealt with in the appropriate manner,” secretary of state for the interior Said Mechichi told TAP. -AFP

People take part in a demonstration gathering thousands, including Islamists, to demand greater political reforms and social justice, in Casablanca on May 27, 2012. (AFP)

CASABLANCA: Tens of thousands of Moroccans took to the streets of Casablanca on Sunday in the largest opposition protest since an Islamist-led government took office in January. The protest was organized by trade unions which accuse Prime Minister Abdelilah Benkirane of failing to deliver on the pledges of social justice that brought his party to power in the wake of the Arab Spring. “There are more than 50,000 people who are demonstrating to call on the government to start a genuine dialogue addressing our country’s social ills,” opposition Socialist MP Hassan Tariq said. Police sources estimated the crowd at

Iran not ready for visit to suspect nuclear site

DUBAI: The UN nuclear watchdog has not yet given good enough reasons to visit an Iranian site where it suspects there may have been experiments for developing nuclear weapons, Iranian media said. A report from the International Atomic Energy Agency (IAEA) last week said satellite images showed “extensive activities” at the Parchin complex, at the centre of Western suspicions that Iran is developing atom bombs. Tehran denies any such plan. Iranian officials have refused access to Parchin, southeast of Tehran, saying it is a military site. “The reasons and document have still not been presented by the agency to convince us to give permission for this visit,” the head of the Atomic Energy Organization of Iran, Fereydoun Abbasi-Davani, was quoted as saying by Fars news agency on Saturday. Six world powers failed to convince Iran last week to halt its most sensitive nuclear work, but they will meet again in Moscow next month to try to end a standoff that has raised fears of a new war. Last November, an IAEA report found that Iran had built a large containment vessel in 2000 at Parchin in which to conduct tests that the agency said were “strong indicators of possible weapon development.” Iran’s Abbasi-Davani accused unnamed countries of putting pressure on the IAEA to visit Parchin. After a visit to Tehran last week, IAEA chief Yukiya Amano said he was close to an agreement with Iran on inspection visits to nuclear facilities but some differences remained. Meanwhile, Iran is to build a new nuclear power plant, alongside its sole existing one in the southern city of Bushehr, by early 2014, state television reported on Sunday, quoting the head of the country’s Atomic Energy Organization. “Iran will build a 1,000-megawatt nuclear power plant in Bushehr next year,” the television quoted Fereydoon Abbasi Davani as saying. He was referring to the Iranian calendar year running from March 2013 to March 2014. The current Bushehr nuclear plant was started by German engineers in the 1970s, before Iran’s Islamic revolution, and was completed by Russia, which continues to help keeping it running and provides fuel for it. In addition, Iran has a research reactor operating in Tehran that is used to make medical isotopes for patients with cancer and other illnesses. A new Bushehr plant would boost electricity production in Iran, which has some of the world’s biggest reserves. State television made its announcement in the wake of talks in Baghdad on Wednesday and Thursday between Iran and world powers that focused on Tehran’s controversial nuclear program. Those talks almost collapsed because of the very different positions held by the two sides, but agreement was finally reached to hold another round in Moscow on June 18-19. Iran insists its nuclear program is exclusively peaceful and aimed at producing energy and medical isotopes. -Agencies

around half that figure. “The trade unions are united and the message to the Benkirane government is clear: he needs to change his strategy,” Tariq told AFP as the crowd marched through the heart of the country’s economic capital. Hundreds of youths from the February 20 Movement - known as M20 - also turned out in Casablanca, Morocco’s largest city. Their movement was born of the wave of protests which took hold in the kingdom last year after pro-democracy revolts in Tunisia and Egypt toppled longstanding regimes. King Mohammed VI nipped the protest movement in the bud by introducing

‘Rule by murder’ US Secretary of State Hillary Clinton demanded that those who carried out the killings be held to account. “The United States will work with the international community to intensify our pressure on Assad and his cronies, whose rule by murder and fear must come to an end,” she said. France said it would call a meeting of the Friends of Syria, a group of Western and Arab countries keen to see Assad removed. Britain said it would summon Syria’s envoy over the massacre and that it would call for a meeting of the UN Security Council in coming days. The United Arab Emirates requested an urgent meeting of the Arab League, whose head, Nabil Al-Arabi, urged the US Security Council to stop the killing. But there was no immediate official word from Russia, which along with China has vetoed Council resolutions calling for tougher action. Although the ceasefire plan negotiated by former UN secretary-general Kofi Annan has failed to stop the violence, the United Nations is nearing full deployment of a 300-strong unarmed observer force meant to monitor a truce. The plan calls for a truce, withdrawal of troops from cities and dialogue between the government and opposition. Syria calls the revolt a “terrorist” conspiracy run from abroad, a veiled reference to Sunni Muslim Gulf powers that want to see weapons provided to the insurgents. The United Nations has accused Assad’s forces and insurgents alike of grave human rights abuses, including summary executions and torture. -Reuters

significant reforms to curb his near-absolute powers. The ensuing November 2011 election saw the Justice and Development Party - a moderate Islamist party - win the most seats and head a coalition government. It had pledged to address the protest movement’s grievances and fight for more social justice in a country mired by high unemployment and illiteracy rates. But less than six months after it was sworn in, Benkirane was facing renewed discontent from protesters who see no change. “Benkirane and Fouad Ali El Himma are two sides of the same coin,” went one slogan chanted in the streets of Casablanca, referring to the king’s closest advisor. -AFP

RAMALLAH, Palestinian Territories: An Israeli military court has extended the detention without charge of three prisoners including an MP with the Islamist Hamas movement, the Palestinian Prisoners’ Club and Hamas officials told AFP on Sunday. Prisoners’ Club spokesman Amani Sarahne named another of the prisoners as Hossam Khader, a former MP with the ruling Fatah movement of Palestinian president Mahmud Abbas. “The court refused his appeal yesterday because the military prosecutor decided to renew his administrative detention order for another six months,” she told AFP, saying he had already spent a year being held without charge. Administrative detention is an antiquated procedure dating back to the British Mandate under which military courts can hold suspects without charge for periods of up to six months, which can be renewed indefinitely. The other two prisoners were both members of the Hamas movement which rules Gaza, a Hamas official in the West Bank told AFP on condition of anonymity. One was Hamas MP Mohammed Al-Natshe, whose year-long administrative detention was extended by another four months, and the second was Hussein Abu Kweik. It was not immediately clear how long Abu Kweik’s latest period of detention was, and how much time he had already spent behind bars. The Israeli army could not immediately confirm the reports. Last month, more than 1,500 Palestinian prisoners began a mass hunger strike, with most protesting against the conditions of their detention. A smaller group of six prisoners went between for seven and 11 weeks without food in protest at being held without charge. On May 14, the prisoners agreed to end their strike after hammering out a deal with Israel in exchange for a package of measures. Israel also agreed to release all administrative detainees at the end of their current detention periods, unless further evidence against them emerged. Khader did not take part in the mass hunger strike, and it was not immediately clear whether the other two had. Meanwhile, Palestinian election officials will begin work on updating the electoral register in the Gaza Strip on Monday in a key step to pave the way for elections, an official told AFP on Sunday. On May 20, senior Fatah and Hamas officials agreed that the Palestinian electoral commission would start work in Gaza on May 27 and that consultations to forum a new interim “government of independents” would start the same day. But Jamil Khaldi, head of the Central Elections Commission (CEC) in Gaza, said work would only begin on Monday after the arrival of his West Bank counterpart, Hanna Nasser. “Nothing will happen today. The CEC delegation led by Hanna Nasser will arrive in Gaza on Monday and we will all have a meeting with (Hamas) prime minister Ismail Haniya. Immediately afterwards, we will start our work,” he told AFP. -AFP

Al-Qaeda identifies Yemen troops bomber SANAA: Al-Qaeda in Yemen has identified the suicide bomber behind last week’s deadly attack on troops that killed nearly 100 soldiers, according to a statement posted online. A picture of Haitham Hamid Hussein Moufarrah dressed in traditional Yemeni garb was posted on a jihadist website late Saturday. A statement by Yemen-based Al-Qaeda in the Arabian Peninsula (AQAP) also described the May 21 bombing in Sanaa as a “commendable operation that was overseen by the emirs and the military command of the network.” A police official, speaking on condition of anonymity, told AFP that Moufarrah was “a soldier who infiltrated Yemen’s Central Security forces, a unit of the army where he served,” adding that the bomber’s father was arrested Saturday “for questioning.” Another police official said the bomber “was part of an Al-Qaeda sleeper cell in Sanaa which acted to reduce pressure on the network in the southern province of Abyan,” where the army is battling militants for control of the restive territory. He said Yemen’s “army and security units have been infiltrated by some 300 Al-Qaeda operatives.” On May 21, the suicide bomber, packing powerful explosives under his uniform, blew himself up in the middle of dozens of troops rehearsing for an army parade to mark the 22nd anniversary of the unification of north and south Yemen, killing 96 soldiers and wounding at least 300 others. The attack was the deadliest against Yemeni troops in Sanaa since newly-

elected President Abdrabuh Mansur Hadi vowed to destroy the militant network at his swearing in ceremony last February. It also came 10 days into a massive army offensive launched on May 12 against Al-Qaeda in Abyan that so far has left 332 people dead, according to a tally compiled by AFP, including 242 Al-Qaeda fighters, 55 military personnel, 18 local militiamen and 17 civilians. Meanwhile, at least 22 Islamist militants were killed in overnight clashes and an air strike in southern Yemen, where government troops are fighting rebels linked to Al-Qaeda, a local official and residents said on Sunday. Around 15 of the dead were killed in fighting north of the militant stronghold of Jaar, a town in Abyan province that has been controlled by the militants since last year. The Al-Qaedalinked Ansar Al-Sharia (Partisans of Islamic Law) exploited last year’s popular protests against former president Ali Abdullah Saleh to capture swathes of territory in Abyan, including the provincial capital Zinjibar. This month the government began a counter-offensive against Ansar Al-Sharia with US help. A military official said the army had managed to recapture key positions in Zinjibar, where at least 63 militants were killed on Saturday in heavy fighting, many of them Somalis. The bodies of seven militants were seen on Sunday being carried away from a factory located west of Jaar, which is used by Ansar Al-Sharia as a base, after it was attacked by a Yemeni warplane on Saturday night. -Agencies

Jordanian and US Special Forces conduct fast-roping from a Black Hawk helicopter at the King Abdullah Special Operations Training Centre in Amman on May 27, 2012 during their “Eager Lion” military exercise which is described as the largest exercise in the Middle East in 10 years. (AFP)

ALWATAN DAILY

WORLD

mondAY, may 28, 2012

New Mexico fire grows, forces evacuation ALBUQUERQUE: A wildfire in Gila National Forest burned through more timber and brush lands as it forced the evacuation of residents living near a privately owned ghost town in southwestern New Mexico, officials said. Fueled by strong, erratic winds, the Whitewater-Baldy Complex fire burning through rugged and remote terrain grew Saturday to an estimated 100,000 acres, or more than 150 square miles. It was still 0 percent contained. The evacuation of Mogollon, a privately owned ghost town, was ordered Saturday due to extreme wind. Five helicopters and more than 600 firefighters from around the state were on hand to fight the blaze but still had to contend with “extreme conditions.” Cities, as far away as Albuquerque, remained under a health alert until Sunday afternoon due to smoke from the fire, which has spread across the state. State officials were warning residents during the Memorial Day weekend to limit outdoor activities, especially if smoke was visible. The haze that blocked views of the Sandia Mountains in Albuquerque on Friday appeared to have decreased by early Saturday afternoon, but smoke continued to hang over parts of the city. Meanwhile on Saturday, crews in Colorado battled a wildfire that has scorched more

than 3,000 acres of rugged canyon land near the Colorado-Utah border. US Forest Service spokesman Steve Segin said the fire started Friday afternoon and is burning in a remote area near Paradox. It is not threatening any structures, and no injuries have been reported. Shannon Borders, a spokeswoman for The Bureau of Land Management, said sheriff’s deputies have evacuated the Buckeye Reservoir area, a popular recreation spot near the Utah border. The Rock Creek and Sinbad Valley areas also were evacuated. In California, higher humidity and light winds were helping firefighters get ahead of a stubborn wildfire that has charred 4,100 acres of tinder-dry grass and brush in rural San Diego County. The blaze near Shelter Valley was burning Saturday in steep, rocky terrain away from the town of Julian, said Thomas Shoots, spokesman for the California Department of Forestry and Fire Protection. It was 65 percent contained. No injuries or damage to structures were reported, and the fire was not moving toward any homes as it burned southeast on Saturday. Arizona fire officials said a cold front arriving over the state late Friday was providing additional relief to firefighters battling the Gladiator Fire, a blaze that has charred 16,000 acres and is now 40 percent contained. Electricity has been restored to some areas. -Reuters

JOHANNESBURG: Rescuers have recovered the bodies of 10 illegal diamond miners who were killed in a disused mine tunnel earlier in the week in the Northern Cape province, officials said. “By Saturday night 10 deceased diggers had been recovered from the collapsed tunnels,” said a statement issued late on Saturday by the DeBeers company which operates the mine in Kleinze. “One digger has been rescued and eleven diggers reportedly escaped from the collapsing tunnels on Tuesday,” it said. Kleinzee is one of the small mining towns in the arid and sparsely populated region of Namaqualand, in the Northern Cape, the country’s most sparsely-populated province where mining is the lifeblood of the region.

Two bodies were recovered on Tuesday, after the accident was reported. According to De Beers, the tunnels were excavated illegally. De Beers stopped operations in Namaqualand around three years ago pending the mines’ sale to fellow miner Trans Hex, which signed a 225-million-rand ($27-million, 21-million-euro) acquisition deal last year. The mining giant closed down access to the mines in April when it discovered illegal miners from the area had started work in the tunnels. Accidents involving illegal miners are common in South Africa, where impoverished diggers often take great risks to carve out tunnels or work in disused shafts at diamond and gold mines. -Reuters

Some 49 rescued from Solomon Islands life rafts

SYDNEY: Forty-nine people were rescued Sunday after being found clinging to life rafts in the Solomon Islands, Australian officials said, around four days after their boat is believed to have sunk. Australian authorities were called in to help in the aerial search on Friday after the island trading vessel MV Solfish 001 failed to arrive in the port of Lata as expected from the capital Honiara during the week. But it was only late on Saturday, the second day of the search, that the life rafts were spotted and a Royal Australian Air Force AP-3C Orion was able to fly over and confirm there were 49 survivors. All those on the vessel had survived, a spokesman for the Australian Maritime Safety Authority (AMSA) told AFP. They were from the Solomon Islands and included women and children, defense officials said. The AMSA spokesman said the Solfish was believed to have been about 50 nautical miles from its destination when it ran into trouble.

Local reports in the Solomon Islands said the boat likely went down on Wednesday, the last day it reported to Solomon maritime authorities. Australian defense officials said the Orion was critical in finding the survivors in the 6,000 square-kilometer (2,300 square-mile) search area, east-southeast of Honiara. “The aircrew spent hours patiently working through the search zone and coordinating with other aircraft and vessels to firstly find the debris field and then confirm a possible sighting of life rafts,” said chief of joint operations Lieutenant General Ash Power. “About two hours after finding the debris, a civilian aircraft reported possible life rafts that were quickly confirmed through a low pass by the RAAF aircrew. “The confirmation allowed surface vessels to be directed to the five life rafts and recover the 49 Solomon Islanders.” The rescue of the 49, including 10 women and six children, was completed early Sunday, Australian defense officials said. -AFP

Dripping crucifix sparks Indian blasphemy row NEW DELHI: Angry Catholics have accused an Indian skeptic of blasphemy after he argued a dripping crucifix was caused by faulty plumbing rather than divine intervention, leaving him facing a possible prison term. Thousands of believers flocked to a suburban street in the west of Mumbai in March, when drops of water began to fall from the feet of Jesus on the cross, drinking the prized liquid in the hope that it had holy powers. Sanal Edamaruku, president of the Indian Rationalist Association, suggested otherwise. He said he inspected the site and found the source of the water to be leaking toilet drainage, making it dangerous to imbibe. “It’s a case of miracle-mongering,”

Edamaruku told AFP from his home in New Delhi. “Any kind of miracle-mongering is ultimately to get money and power.” Accusing him of spreading “antiCatholic venom” during televised debates on the crucifix, outraged religious groups in Mumbai have filed police complaints that could see Edamaruku jailed for up to three years under India’s blasphemy law. “Don’t try to bring dark ages in India,” Edamaruku had warned in a TV discussion. One complaint was lodged with police by Joseph Dias, general secretary of the Catholic-Christian Secular Forum, who objected to the rationalist’s “very obvious and stridently anti-Christian bias”. -AFP

NEWS IN BRIEF Vatican in chaos after butler arrested for leaks VATICAN CITY: The Vatican’s inquisition into the source of leaked documents has yielded its first target with the arrest of the pope’s butler, but the investigation is continuing into a scandal that has embarrassed the Holy See by revealing evidence of internal power struggles, intrigue and corruption in the highest levels of the Catholic Church governance. The detention of butler Paolo Gabriele, one of the few members of the papal household, capped one of the most convulsive weeks in recent Vatican history and threw the Holy See into chaos as it enters a critical phase in its efforts to show the world it’s serious about complying with international norms on financial transparency. -AP

Taiwan opposition votes for new leader

Smoke rises into the air from a large forest fire which has consumed a total of 82,252 acres as seen in this US Forest Service handout photo taken in Gila National Forest, New Mexico May 25, (Reuters)

Mali split Bodies of 10 illegal miners recovered in South Africa deepens after northern rebels unite

Miners inside a tunnel in an illegal gold mine. (Reuters)

BAMAKO: A move by Mali’s Tuareg and Islamist rebels to merge and declare a new state in the north left the west African country closer to breakup Sunday, two months after a fateful coup in the south. As an Islamic state called Azawad took root in the north, the interim president tasked with restoring Mali’s unity was in a Paris hotel, recovering from an assault in his office on the eve of the transition’s official start. “The Ansar Dine movement and the National Movement for the Liberation of Azawad (Tuareg MNLA) proclaim their dissolution in Azawad (northern Mali),” the two groups said in an agreement sent to AFP Saturday. “The two movements have created the transitional council of the Islamic state of Azawad,” said the groups, which have been controlling the area for the past two months, in their “protocol agreement”. “We are all in favor of the independence of Azawad,” they said, adding that “we all accept Islam as the religion.” The accord between the secular Tuareg and the Islamists comes after weeks of sometimes fraught discussions between two movements which have long been separated in their objectives and ideologies. In Gao, a major town in the north where leaders of the two movements have been holding talks, the sealing of the deal was greeted by the sound of guns being fired into the air, local residents said. “Allah has triumphed,” declared Sanda Ould Boumama, an Ansar Dine spokesman in the northern Malian desert city of Timbuktu. Tuareg rebels, many of whom were mercenaries who had fought for Muammar Gadhafi and returned heavily armed to their homeland, rekindled their decades-old struggle for autonomy with a massive

TAIPEI: Taiwan’s main opposition party voted for a new leader on Sunday after a disappointing showing in the presidential elections in January. The China-skeptic Democratic Progressive Party (DPP), which has about 160,000 members, was expected to unveil its new chairman before 8:00pm (1200 GMT). The front runner to succeed Tsai Ing-wen, who was Taiwan’s first female presidential candidate but stepped down after failing to unseat President Ma Ying-jeou, is former premier Su Tseng-chang. -AFP

NATO air strike kills six children

offensive in mid-January. A coup by Captain Amadou Sanogo and a group of low-ranking officers ousted the government in Bamako on March 22, saying it was incompetent in handling the Tuareg rebellion. However the coup only opened the way for the Tuaregs, Ansar Dine - led by the charismatic Ag Ghaly and backed by Al-Qaeda in the Islamic Maghreb (AQIM) - and criminal groups to occupy the vast north of the country, an area larger than France. In a message earlier in the week Abdelmalek Droukdel, the head of Al-Qaeda’s African offshoot, advised combatants in northern Mali to impose Sharia law “gradually” so as to achieve the creation of an Islamic state. The agreement between the Tuareg MNLA and Ansar Dine leaves AQIM’s position in “Azawad” unclear but creates a fresh headache for the transitional authorities in Bamako and the West African bloc ECOWAS. Transitional leaders have stressed their wish to restore the country’s territorial integrity but seem unable to guarantee their own safety, let alone mount a credible challenge against the north’s new masters. Mali’s interim president Dioncounda Traore was still in France for a private visit and medical treatment after the 70-year-old was assaulted by protesters inside his office on May 22. His entourage said the tests had revealed nothing alarming and said Traore, staying in a hotel in the French capital with his family, was expected back in Mali in the coming week. They did not provide a date. Traore, already interim president from April 12, was appointed to lead the long-term transition after mediators from the 15-nation ECOWAS wrested a deal from coup leader Sanogo. -AFP

KABUL: A NATO air strike killed a family of eight, including six children, when it ploughed into their home in eastern Afghanistan, local officials said on Sunday. Saturday night’s incident in Paktia province threatens to further sour already shaky ties between President Hamid Karzai and his Western backers and will likely enrage Afghan civilians weary of years of bloodshed. “Eight people, a man, his wife and six of their children, are dead,” local government spokesman Rohullah Samoon told AFP. “It was an air strike conducted by NATO. This man had no connection to the Taliban or any other terrorist group.” -AFP

Dutch support for austerity parties falls AMSTERDAM: Support in the Netherlands for the five parties that back budget cuts to meet EU targets has fallen sharply over the past month and below the level needed to form a government after elections in September, a poll showed on Sunday. The euro zone’s fifth-largest economy has been one of Germany’s most committed allies in pushing for euro zone fiscal discipline, but that was thrown into doubt by the collapse of Prime Minister Mark Rutte’s centre-right government last month. Although the Dutch coalition fell apart when it failed to reach an agreement on budget cuts, Rutte was still able to push those through with the backing of the two parties in his caretaker government and three small opposition parties. -AP

Deadline looms in Nepal over constitution KATHMANDU: Nepal is on the brink of a fresh political crisis, as a deadline for the presentation of a new federal constitution approaches. The country’s constituent assembly must produce the document by the end of Sunday or face disbandment. A new constitution has been widely seen as being crucial to helping end the instability that has plagued the country since the end of a Maoist-led civil war in 2006, and the subsequent overthrow of the monarchy. The debate over the constitution, however, has sharply divided public opinion, particularly on the issue of whether Nepal should be divided into states along ethnic lines. There have been several violent protests in recent weeks, with ethnic groups staging demonstrations near the parliament building where the constituent assembly of politicians convenes. If the assembly, which doubles as a parliament, misses the deadline, set by the supreme court, it will be dissolved, creating a power vacuum in the South Asian country and risking further unrest in a nation dependent on aid and tourism. “The demands for ethnic autonomy have become so strong that if they are not addressed they could lay the seeds for further conflict as happed in Sri Lanka and Aceh,” said Kunda Dixit, editor of the Nepali Times weekly. As the deadline approaches, rallies were banned around key government buildings in Kathmandu, the capital, including the prime minister’s office. The parliament building has been ringed by riot police, standing behind barbed wire barricades. The Rajdhani daily said the army was on high alert and ready to step in if police failed to maintain security in the capital. The new constitution is a key part of the peace

Members of the Brahmin-Chheri Society protest near the Constitution Assembly building against federalism, as the midnight deadline of the nation’s first federal constitution approaches in Kathmandu, May 27. (Reuters)

deal struck with the Maoists to end their revolt. An agreement on the charter has been elusive, however, and the assembly has missed several deadlines already because of deep divisions over the number, boundaries and names of the nation’s states. The Maoists, who waged their revolt on a pledge to empower the country’s many ethnic groups after centuries of exclusion and discrimination, dominate the assembly. They say they want the creation of up to 14 states named after ethnic groups. Their call has been backed by several small

Madhesi parties demanding an autonomous state in the country’s southern plains. “A constitution is not possible without federal states recognizing the identity of ethnic groups,” said senior Maoist leader Narayankaji Shrestha. The Maoists’ political opponents, however, say that carving up the country along ethnic lines would stoke tension between different castes. Ram Sharan Mahat, a Nepali Congress party leader, said the Maoists “want to kill the assembly, not make the constitution” and stay in power. -Reuters

UK Conservative chairman apologizes for incorrect property details LONDON: The chairman of Britain’s Conservative party has apologized for not correctly declaring details of one of her central London properties. Sayeeda Warsi said in a statement Sunday that she had made a mistake in how she informed Britain’s upper house, of which she

is a member, about a west London apartment she rented out. Warsi says the mistake was an oversight and that she takes full responsibility for not following the rules. Several British politicians were caught up in an expenses scandal in 2009 when a leak of pre-

viously secret expense files revealed how politicians had incorrectly billed the public for living expenses and not been honest about how much they paid for accommodation. Warsi, Britain’s most senior Muslim politician, was not implicated in earlier waves of the scandal. -AP

ALWATAN DAILY

OPINION

monDAY, may 28, 2012

Enterprising entrepreneurs through the ages Khalil Ali Haydar

t is indeed unfortunate in a highly resourceful country like Kuwait, just three Kuwaiti companies were ranked among the top 2,000 companies in the world for 2012 (in terms productivity and turnover) according to a recent report that was compiled and published by Forbes. This is indeed a poor listing in terms of the number of companies that are officially listed worldwide and this could surely be one of the reasons why most of the Kuwaiti companies are suffering from repercussions culminating from financial and economic problems that those companies are faced with. In its April 12, 2012 edition,Al-Qabas newspaper published a very interesting article; indicating that the National bank of Kuwait, Zain Telecommunications Company and Kuwait Finance House were listed among the top 2,000 companies in the world while ten companies each from countries like Saudi Arabia, Qatar and the United Arab Emirates were accorded the highest rankings. Saudi Arabia’s Sabic Company was ranked 88, with an estimated market value of 84 billion US dollars, the National Bank of Qatar with an estimated market value of $26 billion, Saudi Telecom Company with an estimated market value of $21 billion, the National Bank of Kuwait with an estimated market value of $17 billion and Abu Dhabi National bank with an estimated market value of less than $10 billion. In another first, Oxon Mobil ranked first on the list of 2,000 companies

The most important lesson to be learned in commerce and investment is a strong determination and dedicated insistence over achieving success. with a market value exceeding $407 billion, JP Morgan ranked second with $170 billion and General Electric ranked third. Companies across Asia topped the list with 733 companies while Europe, the Middle East and Africa followed with 605 companies, the US with 524 and Latin America with just 145 companies. All these companies have been ranked in accordance to four factors; namely sales, profits, assets and market value. However, it is important to note here that the magazine indicated that some cheap products reap huge profits and hence; it took into consideration the various products manufactured by these companies (small and big ones) along with their overall market value while compiling the report. The magazine also disclosed that the Gillette Company which manufactures shaving blades and other relevant products spends about $10 billion on miscellaneous expenses such as placing advertisements on TV, the Internet and brochures although its annual profits account for a measly $8 billion.

The Starbucks Company that was established in 1971 and which specializes in marketing a special brew of coffee that is a sensation in countries across the world has managed to raise its revenues to reach $11 billion during 2011 while McDonald’s revenues in 2010 reached a whopping $24 billion. One of the most famous brands manufacturing tomato ketchup is Heinz which was first introduced in the local American market by Henry Heinz who was born in 1844 and died in 1919. First introduced in 1876, Heinz tomato ketchup remains one of the best selling brands of ketchup. In 1907, Heinz started producing 12 million bottles of ketchup per year, exporting ketchup all over the world, including India, Australia, South America, Japan, New Zealand, South Africa and the United Kingdom. Heinz ketchup is often served at many restaurants in the United States and Canada, as well as many other countries. As a condiment for many foods, such as French fries, chips, hamburgers and hot dogs, Heinz ketchup uses the slogan, “America’s Fa-

vorite Ketchup.” Currently, there are more than 650 million bottles of Heinz tomato ketchup being sold every year throughout the world. In 2000, Heinz introduced colored ketchup products called EZ Squirt, which were targeted towards young children. The product was available in a squeezable container and was eventually discontinued in 2006. Green and purple colored ketchup was also available for a limited period of time. The ketchup also comes in single serve packets and plastic bottles. In 2010, Heinz unveiled a new single serve cup for dipping and squeezing appropriately called the Dip & Squeeze that will eventually replace the original packets. In January 2009, the label design was altered, with the illustration of a gherkin pickle that had adorned the label since the 1890s removed and replaced with an illustration of a vine-ripened tomato accompanied by the slogan “Grown not made.” Most of the world’s Heinz tomato ketchup is made in the main US plant at Fremont, Ohio and in Leamington, Ontario for the Canadian market. A 2011 survey

of British consumers placed Heinz second from bottom in a taste of 13 branded and supermarket owned brands (all the top 3 were supermarket owned brands). Cultural and intellectual issues also occupy an important and prominent rank in the commercial field. Just take the case of prominent businessman and publisher Allen Lane who happened to be one of the most famous publishers of English novels. Lane, who died in 1970 embarked on a very successful career publishing novels after he and his brother first established the Penguin Publishing House in the year 1935 with a very limited capital estimated at just £100. Since funds were limited when they first ventured into the business, they chose to publish very cheap books written by unknown authors who were also poorly paid until a time when their books began to become increasingly popular with masses and within a period of just six months, were able to reach a set target of a million copies. They expanded their businesses later on such a massive scale that they were ranked first among other publishing houses that were in competition at that time. They also maintained a high quality of print although they increased their business rapidly. Apparently, the most important lesson to be learned in the field of commerce and investment is a strong determination and dedicated insistence over achieving success. These are the factors that are far more important, decisive and applicable than the capital itself!

Egypt’s famed nightlife and our famous MPs Ahmad Al-Fahad

n individual’s vision of scenes, events and people surrounding is certainly defined by what is going on in his mind at that particular point of time. For example, if we happen to send three people to Egypt, and on their return, ask each one of them to describe in detail all that they saw while there; we will certainly realize that all of them will surely describe what they had been intending to look for in Egypt. For example, those that are religiously inclined would surely speak about the Azhar and the famous mosques, such as Mostafa Mahmoud, Omar Makram, and Al-Badawi mosques. Those that are diehard shopaholics and sightseers would certainly describe the glitzy avenues and shopping malls and traditional marketplaces like AlHussein, Khan Al-Khalili, and Zanqat Al-Settat. Compulsive gamblers and avid party goers, on the other hand, will surely talk about how they lost or won while gambling in casinos or dancing the night away in nightclubs or even spending the night in the company of vivacious belly dancers. This is the general scenario in a country like Egypt.. Now if we choose to apply the same theory on some Kuwaiti MPs who are only concerned about accusing some ministers and officials of being thieves and liars simply because one thief or liar recognizes another thief and liar; as the centuries-old adage suggests. The one and only thing that is permanently embedded in their minds is how to go about violating the law and statutes of the Constitution and hence; it is this probability that makes them the very first suspects in the embezzlement of public funds. These are also those very MPs who constantly lie to the people to fur-

ther their own vested interests. They always pretend to protect the law although in reality; they are among the first to break those laws in broad daylight. MP Abdulrahman Al-Anjeri explained during one of the interpellation motions that the commission that was accrued in one of the deals clinched by the Social Insurance Authority was 800 million US dollars. Now just imagine if that commission was in Kuwaiti dinars and if this is the net value of the commission paid, one can just imagine the total value of the deal itself? I am sure that such commissions are either paid for contracts signed to buy weapons of mass destruction, or to construct space shuttles. This kind of commission is definitely not paid to acquire shares or to sell portfolios. The leader of the Hezbollah Hassan Nasarallah has, for reasons that I just can’t comprehend, rejected all acts of violence erupting in Lebanon, such as barricading roads and burning tires. And although I cannot deny the fact that his statements are indeed exemplary, I certainly hope that he sends a similar message to the people in Bahrain and educate those rioters that what they are doing is a crime against their country and against humanity as well. Closer to home, our very own MP Obaid AlWasmi, after withdrawing the interpellation motion that he was planning to submit against Minister of Finance Mustafa Al-Shamali, said that the main reason for withdrawing the interpellation motion was prompted by his love and respect for the Kuwaiti citizens and the Constitution. Is AlWasmi, the constitutional expert, trying to imply that all those who chose not to withdraw their interpellation motions, do not respect the Kuwaiti citizens and the Constitution?

Ali Farzat

io n

Analyzing the outcomes of Egyptian elections Shamlan Al-Eisa

n May 23-24, 2012, Egypt witnessed its first ever free, fair and transparent elections in which an overwhelming 51 million voters flocked to the polling booths, stood in long and winding serpentine queues and cast their precious votes to elect a president that is expected to shape their future and that of the country over the next four years. Thirteen potential candidates affiliated to the various political parties, movements and from all walks of life contested the elections after a near-bloody revolution that cost the lives of hundreds of Egyptian citizen and the ouster and subsequent hospitalization of the former Egyptian president Hosni Mubarak. Local and international pages were flooded with pictures and news coverage of the election with preliminary results indicating that the presidential race has left the Muslim Brotherhood’s candidate and an ex-military prime minister set to battle it out in an upcoming run-off vote. But the losing candidates are crying foul amid claims of mass election violations. Candidate Hamdeen Sabahi, who narrowly missed qualifying for June’s run-off vote, has called for the elections to be suspended over multiple irregularities and doubts over frontrunner Ahmed Shafiq’s right to stand. On the other hand, the Muslim Brotherhood’s candidate Mohammed Morsi and former PM Ahmad Shafiq currently top the ballots according to preliminary results of the first round of voting while the official results are expected to be issued on Thursday. It is clearly evident that Sabahi will lodge an appeal for the prosecutor-general to investi-

gate allegations by a police officer that the Interior Ministry has handed over 900,000 votes to Shafiq. He has also demanded that the Constitutional Court rule on the validity of the electoral committee’s decision to ban Shafiq from the presidential race in April. The committee reversed their disqualification of exminister Shafiq shortly after the ruling, but instated a law barring Mubarak’s officials from the presidential elections. “We will present an appeal on behalf of candidate Hamdeen Sabahi ... to the presidential electoral committee, citing a series of irregularities ... that have affected the outcome of the first round,” Sabahi’s lawyer, Essam El-Islamboly was quoted as saying. The US-based Carter center had over 100 monitors stationed through Egypt observing the election process. But, the group says its observers were only given permits a week before the elections which “severely undermines the overall transparency of the election results.” People in their thousands frequented the electoral booths to cast their precious votes during both days, which prompted the authorities to extend the time for voting by one hour in the evening. International news agencies and media agreed that no major violations occurred during the electoral process, except for the delay in opening some of the electoral committees. The most important questions that need to be answered are: “Will Egypt witness a state of prosperity and stability after the mayhem that erupted during the 15 months transitional period? Will the results of the presidential elections lead to the reinforcement of democracy and law, or will there be more chaos and instability?

Political analysts, however, aver that there are still several obstacles and challenges facing Egyptians in their quest for real democracy. Some politicians have announced that they would direct a volley of threats if Ahmed Shafiq or Amro Moussa wins in the presidential elections, simply because those politicians are absolutely certain that those candidates who contested in previous elections only win through forgery vote-rigging. Such irresponsible statements make it evidently clear that most, if not all citizens certainly do not believe in the true concepts of democracy that call for engaging in free, fair and transparent elections and accepting its final results irrespective of the outcomes. Now the question that is nagging most people’s mind is: What will happen if the Muslim Brotherhood’s candidate Mohammed Mursi wins the elections?” Whatever happens in the event that he wins the elections; one thing is for certain and that is; the Muslim Brotherhood Movement will definitely dominate the political scene in Egypt; especially since they had also won in the previous legislative elections. In such a case, it is clearly evident that the civil powers might disagree with the Muslim Brotherhood Movement, since all those who support the formation of a civil state; seek the existence of a country that is strictly governed by law and most importantly; one that does not discriminate among Egypt’s various societal segments. The other question that needs to be answered here is: “What will happen if Hamdeen Sabbahy or Salafist Abdul Moneam Abol Fotouh are declared winners in the presidential elections? It could be highly probable that fears might calm down and members of the Muslim Brotherhood

Movement and other civil currents could somehow bring themselves to accept them. However, in the event that Abol Fotouh wins, Egyptian Coptic Christians will have every reason to be highly concerned about their status as citizens of the country since he does not take kindly to their national status. It is also pretty obvious here that there is a severe lack of trust in the results of the elections; mainly because Egyptians have never really practiced democracy the way the concepts of democracy are practiced in countries across the world. Having an elected president without the very existence of a Constitution that defines his authorities is another formidable challenge that faces Egyptian democracy and one which must be rectified as soon as possible. These are the minor yet vital shortcomings that must be remedied before embarking on the next step towards democracy and the sooner they are taken care of, the better for one and all. In addition, to all the abovementioned points; there is a political and legal controversy that is raging over the legal right of the Military Council to issue a constitutional declaration that specifies the authorities of the elected president. However, although members of the Muslim Brotherhood Movement and Salafists reject such a step, since it contradicts with the authorities of the parliament, it seems likely that the presidential elections will witness several conflicts arising between liberal and religious conservative currents. These conflicts will surely hamper any efforts at strengthening the concepts of democracy, if not eliminate any hope of democracy surviving in Egypt.

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monDAY, may 28, 2012

Iran’s ‘Great Game’ in Afghanistan

In praise of simplicity

Amie Ferris-Rotman Reuters

James Saft

Reuters

ith most foreign combat troops set to withdraw from Afghanistan by 2014, Iran is using the media in the war-ravaged nation to gain influence, a worrying issue for Washington. Nearly a third of Afghanistan’s media is backed by Iran, either financially or through providing content, Afghan officials and media groups say. “What Iran wants, what they are striving at, is a power base in Afghanistan that can counter American influence,” said a senior government official, who like others spoke to Reuters on condition of anonymity. “They are without a doubt doing this through supporting and funding our media.” Iran spends $100 million a year in Afghanistan, much of it on the media, civil society projects and religious schools, says Daud Moradian, a former foreign ministry advisor who now teaches at the American University in Kabul. “It is using Afghanistan to send a message to America that it can’t be messed with. Afghanistan becomes a managed battlefield as a result.” Officials in Tehran could not be reached for comment despite repeated attempts and the Iranian embassy in Kabul said it was not prepared to talk about the issues raised in this report. New Strategic Pact

The landmark agreement NATO leaders sealed this week in Chicago, handing control of Afghanistan over to its own security forces by the middle of next year, puts the Western alliance on an “irreversible” path out of the unpopular, decade-long war. Some security analysts say the withdrawal could lead to increasing instability and then to civil war -- and an opportunity for Iran and others to move into the resulting power vacuum. When the Soviet Union withdrew from Afghanistan in 1989 following a decade-long occupation and the proMoscow government in Kabul collapsed, Afghanistan’s neighbors moved in to arm and fund proxies to gain regional influence as the country plunged into civil war. Although Kabul’s ties with Tehran have seen sporadic improvement after the 2001 ouster of the Taliban, which had emerged triumphant after the civil war, the relationship is combustible. The latest flashpoint is the recent signing of a longterm strategic agreement between the United States and Afghanistan. Though vague on details, the pact was meant to signal US financial and security commitments to Afghanistan through 2024 - particularly for funding the large Afghan National Army. Iran, whose frayed ties with the United States have worsened over its disputed nuclear program, sees the pact as a threat. Iranian-backed media in Afghanistan responded by churning out reports critical of the agreement, and Tehran’s Ambassador to Afghanistan Abu Fazel Zohrawand threatened to expel Iran’s one million Afghan refugees if the pact was not rejected. Iran’s Talking Heads

Afghanistan’s intelligence department, the National Directorate of Security (NDS), had earlier gone public with Iran’s alleged meddling in the media, saying that weekly newspaper Ensaf and TV channels Tamadon and Noor had received financial support from Iran. A journalist who recently left Tamadon TV, owned by Afghanistan’s most prominent Shi’ite cleric Ayatollah Mohammed Asef Mohseni, told Reuters that while the station never confirmed it was getting support from Tehran “it was obvious”. “My salary of 600 US dollars a month would fluctuate dramatically, as it was pegged to Iran’s rial,” said the 23-yearold, one of 200 employees at Tamadon, where he worked for four years before resigning over fears

Complexity makes it easier for the experts to benefit themselves without cutting the owner of the capital sufficiently in on the benefits.

I This Jan. 15, 2011 file photo shows Iran’s heavy water nuclear facilities near the central city of Arak 150 miles (250 kilometers) southwest of Tehran. Although Kabul’s ties with Tehran have seen sporadic improvement after the 2001 ouster of the Taliban, the relationship is combustible, analysts said. (AP)

Nearly a third of Afghanistan’s media is backed by Iran, either financially or through providing content, Afghan officials and media groups say. his employment would land him in trouble with Afghan authorities. “Our office is full of posters calling for protests against the strategic pact with America.We’d invite pro-Iran analysts onto our shows saying Iran was the only one who could help Afghanistan with food and supplies,” said the recent graduate, dressed in a tight black long-sleeved t-shirt and jeans. Tamadon TV dismissed the claims of Iranian backing as an “insult”. Editor in chief Mohammad Rahmati said the station was targeted “because we show core Islamic values; we don’t show half-naked dancing women”. Great Game

Afghanistan has been so much a focus of big power rivalry over the past 200 years -- a failed British occupation in the mid-19th century, the failed Russian one in the 1980s, for example -- it has its own historical sobriquet, “The Great Game.” As the United States prepares for its own dispirited withdrawal from Afghanistan, it is worried about Iran gaining a strategic advantage in Afghanistan, after seeing Tehran win influence in Iraq following the 2003 US invasion. More than half of the 171 TV, satellite channels and radio stations licensed to broadcast in Iraq today are funded by Iran, with others backed by the United States and Arabic Gulf countries, government communications officials say. Iran’s media strategy is but one strand in a multi-pronged projection of “soft power” into Afghanistan. The two countries share cultural, language and historical links -- for centuries they were part of the ancient Persian Empire -- as well as a long and porous border. Iran said in 2010 it has provided some $500 million in official assistance for reconstruction projects. Tehran has built religious schools for Afghan Shi’ites, who comprise

a fifth of Sunni-majority Afghanistan’s 30 million people. Iran may even have MPs on its payroll. An Afghan official who declined to be identified told Reuters that up to 44 of the 249 members of the Afghan parliament are suspected of receiving money from Iran. Iran has not responded to those allegations, which have also been aired in the Afghan media. Efforts Intensified

Iran’s vehement opposition to the new strategic pact with the United States appears to have intensified efforts to influence public opinion about it. Ensaf newspaper, one of the three media outlets the government has; said it receives funding from Iran, and whose parent company Avapress has offices in Tehran, has published six critical articles on the pact since it was signed by President Barack Obama on a whistle-stop visit to Kabul on May 2. The three media outlets feature news reports that hold little interest for Afghans, but are important to Iran, using the same messages and wordage carried by Iranian state media. The state of Israel, for instance, is called “the Zionist regime”, a term Afghan officials generally avoid using. “The fact is the stories broadcast have been made available by Iranian sources for propaganda purposes”, Loftullah Mashal, a spokesman for the intelligence agency NDS, said last month. The NDS later retracted that claim. Iran first started attempting to influence Afghan affairs through the media in 2006, said Abdul Mujeeb Khalvatgar, executive director of the Afghan media development group Nai. “The pace has been quickening since 2011, which is when Iran began to actually inject its viewpoint into Afghan media,” he said. * Amie Ferris Rotman is a Reuters correspondent. The views expressed here are her own.

t is perhaps the single easiest rule of thumb in investment: favor the simple over the complex. Complexity, whether it be in a strategy or in a financial product, makes investors vulnerable: to being overcharged, to misunderstanding risks and to being unable to exit the position easily and economically. To understand why this is true, on so many levels, look no further than JP Morgan’s chief investment office disaster. It involves a trading position which, despite being put on and overseen by people who ought to be the best in the world, landed the bank with a loss that is almost literally unquantifiable. The advice that Morgan shareholders wish the bank had followed holds true for individuals as well: don’t invest in anything you can’t understand. In fact, take it a step further - if you have to even consider whether you understand an investment, just walk away. On its face the appalling track record of complexity in the investment industry is a puzzle. After all, jet engines are more complex than what the Wright brothers used and a Prius more reliable than a Stanley Steamer. The answer, of course, is that complexity favors those who structure and sell investments over those who merely commit capital to them, increasing the already dangerous lack of alignment between investors and their financial providers. The rewards to the industry for pointless (for the investor) complexity far outstrip the rewards of actual outperformance. “In finance we love to complicate. We love to over-complicate. We rely on complexity to baffle, bamboozle and generally thwart human understanding,” James Montier, of fund manager GMO, told a conference hosted by the CFA Institute earlier this month. “Complexity impresses, it allows people to charge high fees, it keeps outsiders out,” Montier said. Complexity when accompanied by its inevitable handmaiden, the “expert,” is even more dangerous, he says. Subjects in a behavioral investing experiment were hooked up to a brain scan and asked to choose between a safe asset and a more complex one that was essentially a lottery. Half the subjects had the “benefit” of having the choices explained by an expert. Inevitably, it was found that while the experts spoke, the parts of their brains that handle calculation and probability turned out like a light. Managing Risk

Prime among the reasons for avoiding complex investments is that they make it much harder to understand the underlying risk. While Jamie Dimon believed, and still believes, that he can control complexity risk through sheer excellence, he was proven wrong. You, dear reader, are almost certainly both less well-resourced and less excellent than Mr. Dimon. Secondly, of course, is the fact that complexity makes it easier for the experts to benefit themselves without cutting the owner of the capital sufficiently in on the benefits. Just as banks are forever getting burned by traders seeking big bonus payments, so are fund holders vulnerable to paying too much in fees when they choose complex products. It is far easier hiding an extra layer of fees in a complex options-based mutual fund than in a tracker. Complexity breeds activity like a swamp breeds mosquitoes. Complex products, by their very nature, tend toward being active products, executing more trades more often. This may or may not benefit the investor, but definitely does create a stream of income for brokers. There are very few things in investing that you can actually control and manage well. What you pay for investment management products is one, and as such should probably be top of your list on what to concentrate on to improve your outcome. This is especially true in times of low returns, as an extra 1 or 2 percent in annual charges in an era of low inflation and low returns is all the more damaging. Keeping it simple is one of the easiest ways to control costs. And, as there is absolutely no sustained record of evidence to support the idea that complexity produces better outcomes, sticking with a prejudice for the simple over the complex is one of the easiest ways to improve long-term outcomes. Of course, the truth is, in Warren Buffett’s famous dictum, “Investing is simple, not easy.” Just like losing weight, the issue is not the strategy but the execution. Keep costs down, favor companies that return capital and be disciplined about buying and selling based on valuation. All so simple, but oh so difficult. * James Saft is a Reuters correspondent. The views expressed here are his own.

China’s expanding core Yuriko Koike Project Syndicate

hina is now engaged in bitter disputes with the Philippines over Scarborough Shoal and Japan over the Senkaku Islands, both located far beyond China’s 200-mile-wide territorial waters in the South China Sea. Indeed, so expansive are China’s claims nowadays that many Asians are wondering what will satisfy China’s desire to secure its “core interests.” Are there no limits, or does today’s China conceive of itself as a restored Middle Kingdom, to whom the entire world must kowtow? So far, China has formally referred to Taiwan, Tibet, and Xinjiang province as “core interests,” a phrase that connotes an assertion of national sovereignty and territorial integrity that will brook no compromise. Now China is attempting to apply the same term to the Senkaku Islands in its dispute with Japan, and is perilously close to making the same claim for the entire South China Sea; indeed, some Chinese military officers already have. The Senkaku Islands, located to the west of Okinawa in the East China Sea and currently uninhabited, were incorporated into Japan by the Meiji government in 1895. At one time, there were regular residents working at a bonitodrying facility. In 1969, the United Nations Economic Commission for Asia and the Far East (ECAFE) completed a seabed survey of the East China Sea, and reported the possible presence of vast underground mineral resources, including abundant oil and natural gas reserves near the Senkakus. Two years passed before Taiwan and China claimed sovereignty over the islands, in 1971, but the Japanese government’s stance has always been that Japan’s sovereignty is not in question. In April, Tokyo Governor Shintaro Ishihara, a famous and articulate patriot, announced that the metropolitan government that he leads plans to acquire four of the Senkaku Islands, which are currently privately owned by Japanese citizens. Donations for the purchase from the people of Japan now exceed ¥700 million ($8.4 million). China reacted to Ishihara’s proposal with its usual sensitivity: it

FILE -- A crew member disembarks from a boat at a pier in Masinloc town, Zambales province, 230 kilometers (140 miles) from Scarborough Shoal on May 18, 2012, after he and other protesters decided to postpone their trip to the disputed shoal. Philippine President Benigno Aquino told protesters to abort plans to sail to the disputed South China Sea shoal also claimed by China. (AFP)

refused to receive the scheduled visit of Ishihara’s son, who is Secretary-General of Japan’s Liberal Democratic Party, the country’s main opposition party. Moreover, at a meeting in Beijing earlier this month between Japanese Prime Minister Yoshihiko Noda and Chinese Premier Wen Jiabao during a trilateral summit with South Korea, Wen mentioned the independence movement in the Xinjiang Uyghur Autonomous Region and the Senkaku Islands in the same breath. “It is important to respect China’s core interests and issues of major concern,” he emphasized. Until that moment, the Chinese government had never applied the term “core interest” to the Senkaku Islands. Fol-

lowing Wen’s statement, the trilateral summit deteriorated. While South Korean President Lee Myung-bak held bilateral talks with Chinese President Hu Jintao, talks between Noda and Hu, and a scheduled meeting between Keidanren Chairman Hiromasa Yonekura and Chinese Foreign Minister Yang Jiechi, were also canceled. The joint declaration issued at the summit was delayed a day, and omitted all references to North Korea - a prime concern of both Japan and South Korea. China’s brusque treatment of Japan’s leaders probably was intended as a rebuke not only over the Senkaku Islands issue, but also for hosting the Fourth General Meeting of the World Uyghur Congress in Tokyo in May. Previously, such

meetings had been held in Germany and the United States, and this one, which stressed the importance of protecting human rights and preserving the traditions, culture, and language of the Uyghur people, received no official sanction or endorsement from the Japanese government. If gruff diplomacy was the only manifestation of China’s expansive territorial claims, Asian leaders could sleep more peacefully. But the fact is that China’s navy is becoming increasingly active in the South China Sea, at the Senkaku Islands and Scarborough Shoal in particular, but also around the Spratly Islands claimed by Vietnam. Given China’s mushrooming military budget and secretiveness, that assertiveness has set off alarm bells among the other countries bordering the South China Sea. Moreover, China’s bullying of the Philippines included not only the dispatch of warships to Scarborough Shoals, but also the sudden imposition of import restrictions on Filipino produce. And China’s reactions toward Japan are far more paranoid since a non-LDP government took power. The struggles for power within China’s ruling Communist Party over the purge of Bo Xilai, and the blind activist Chen Guangcheng’s escape from detention during economic talks with the US, have made Chinese leaders’ nationalist assertions even more strident than usual. No official wants to appear soft where China’s supposed “core interests” are concerned. So far, China has not unleashed the sort of mass demonstrations against Japan and others that it has used in the past to convey its displeasure. But that probably reflects the jittery state of China’s leaders in the wake of the Bo purge: they cannot guarantee that an anti-Japan demonstration would not turn into an anti-government protest. China’s real core interests are not in territorial expansion and hegemony over its neighbors, but in upholding the human rights and improving the welfare of its own citizens, which is the world’s core interest in China. But until China accepts that its territorial claims in the South China Sea must be discussed multilaterally, so that smaller countries like the Philippines and Vietnam do not feel threatened, China’s ever expanding “core interests” will be the root of instability in East Asia. *Yuriko Koike is Japan’s former Minister of Defense and National Security Adviser.

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FOR RENT

One big room available for Keralite couple or working ladies in Hawally with Keralite family. 2 bedroom, 1 bathroom rent KD 85. Tel: 50824257

bathrooms, living room and kitchen along a maid room. Tel: 90958689-99925977

Tel:67058331

SLR

Carpenter.

Tel: 66291129 SLR

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

For rates, please call

6068 5554

WDLR

Room available only for Filipino, single lady near Kuwait National English School, Hawally. Accessible to bus going to City and Sharq. New building with Pinoy TV Channel and large sala & dining area. Tel: 97197268 Deluxe villa for rent in Egila, strategic location located around 3 streets, 2 floors, 7 bedrooms and 5 bathrooms, 4 living rooms + 2 kitchens and 2 gardens. Tel: 55969322

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

WDLR

Apartment in Zahra, 3 bedrooms, 2 baths, living room and kitchene, KD360, Tel: 99725755 Apartment in Manqaf, 3 bedrooms, 3 bathrooms, living room and kitchen.Tel: 90958689

Apartment in Mahboula, 4 master bedrooms with baths, living room, kitchen, maids room, laundry and storage room ,swimming pool, parking. Tel: 65563683

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

Toyota Corolla 2008 in very good condition white color. Ran only 60000km. Call Abul Kawshar: 99867323

BMW 2000, White exterior, beige interior, KD 1250 Tel: 97878183

Nissan Altima Tel:94915050 Toyota mini buss KD2900.Tel:24747418

30-01/30-02

2005.

2005,

Lexus IS400 1998, navy full option, KD 1900.Tel: 97803380 Hyundai 2000, green exterior, KD 500.Tel:99628345

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

Please call: 97722008

21-03/21-04

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

Tel:97601745

A well known Bakala

located at Block 4 Mahaboula behind Alia and Galia Tower. Floor space 5mX5m, with bathroom, include 2 chillers, 2 freezers, cash register, vegetable scale, with stocks.

SLR

Paints and wallpapers, professional work. Tel:99795097

Interested parties may contact

60452716

SLR

20-03/20-04

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

Learn Arabic For foreigners to learn Arabic easily. Contact: 66972388

SLR

Packing and moving services.

06-03/06-04

Required Sales person for men’s textiles shop with sales experience (speaks Arabic). Salary KD 160 + commission. Tel: 66970789

Tel:65599091

SLR

24-01/24-02

Laptops rent,

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

Tel: 66644270

16-01/16-02

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

SLR

Egyptian babysitter, baby sit kids from 1 years old to 4. Tel:94996159

Required chef for Lebanese restaurant. Tel: 6509292697686366

SLR

Apartment in Abdullah Al Ahmad, 3 bedrooms, 2 bathrooms, living room and kitchen. Tel:90958689.

Cars

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

FOR SALE

Apartment in Salmiya, 2 bedrooms, 3 bathrooms, maid room, living room and kitchen, KD400. Tel:67004704

Cars

21-05/21-06

25/12 - 25-02

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

Studio in Salwa, block 1, street 6, house360, KD260. Tel:66143662

Apartment in Manqaf, private entrance, 3 bedrooms, 3

Arabic Teacher

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

Apartment in Hawalli, duplex furnished, great location, 2 master rooms, kitchen, living. Tel: 97720081

Apartment in Hawalli, 2 master rooms, kitchen, balcony and living room. Tel:60001848

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

25/12 - 25-01

SLR

Professional gardening services.

contact Mr. Khaled Ph: 99619998 & 55619998

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

Those interested can call: 97932925

16-04/16-05

28-02/28-03

Serious buyers please contact 67002524

Tel: 9769364

WDLR

Items for sale

Kitchen Equipment repairs 24hours. Abu Mahmud:

TREADMILL excellent condition, high-tech screen, KD 35. Tel:90989840 Billiard table for sale in great condiditon.Tel:66666168

16-04/16-05

- Flexible Timing - Reasonable Price - For all languages

SLR

EB-5 Investor Program

Driving Instructors available for learners

Tel: 93399180

Satellite service, 24hours, covers all area.

Boston whalev super sport 150 boat.Tel:65880918

Contact: 67009278

Birthdays and weddings

Satellite

21-05/21-06

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

Events planner

16-04/16-05

miscellaneous

Senior Manager available in Furniture, General Trading, FMCG, Air & Sea Freight Forwarding, Retails, Wholesales. Can suggest acquiring profitably running Cash businesses with line-of-products. Please Call: 9983 4436

24-04/24-05

Please contact Mr. Sabir, mobile 99509163

Tel: 60091481

30 years experienced

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

99867323

21-03/21-04

Driving Instructors Available

Exercise equipments for sale

Toyota Camry 2000, in great condition.Tel:99734995 Volkswagen Touareg 2005, navy exterior in a very good condition, KD 2500.Tel: 94404405 Ford Lincoln, grey exterior. Tel: 99288558 Mercury Grand Marquis 2005, hardly used in great condition with valid insurance.Tel:97175533 GMC Yukon 1999, spacious and clean. KD 1700, price is negotiable. Tel:66694310

WDLR

Carpool service, female driver covers all Kuwait areas.

Website designer and management

Tel:60361977

SLR

Sewer system cleaning. Tel:66070166

Tel:66238890

SLR

Paints and wallpapers.

SLR

Baraka: Tel: 99881053

SLR

Jordan hikes gasoline, power prices to ease deficit

BUSINESS

mondAY, may 28, 2012

m ar ket watc h KUWAIT 0.98% 6277

AMMAN: Jordan has raised the price of gasoline and electricity for major mining firms, hotels and banks as part of International Monetary Fund (IMF) -guided austerity steps to ease its worsening budget deficit that could reach four billion US dollars this year. Sunday’s move was the first major rise in retail gasoline prices since street protests early last year - inspired by a wave of Arab unrest - pushed the authorities to expand social spending and freeze fuel price hikes, including gasoline. The price of premium petrol has been increased almost 20 percent while electricity tariffs have also been substantially raised for major industrial and service sectors of the economy, including banks and hotels.

DUBAI

QATAR

0.05% 1480

0.32% 8490

See page 10

OIL MARKETS

OMAN

ABU DHABI

BAHRAIN

EGYPT

SAUDI

0.46% 5682

0.18% 2460

0.17% 1143

3.49% 4798

0.35% 6989

US Crude $90.72 $0.14 London Brent $106.80 $0.03 Kuwait Crude $102.68 $1.83 Information Courtesy: KAMCO

CURRENCIES US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2801 Sell 0.2802 Buy 0.3505 Sell 0.3508

Gold price dwindles to its lowest since last January US dollar exchange rate up against Kuwaiti dinar

Buy 0.003513 Sell 0.003518

Buy 0.0747 Sell 0.0747

Buy 0.07624 Sell 0.07629

Buy 0.07697 Sell 0.07691 Buy 0.7428 Sell 0.74324

Buy 0.005066 Sell 0.005061 Buy 0.006409 Sell 0.006391

Prices in Kuwaiti fils as of May 27, 2012 Courtesy: KAMCO

The way forward for telecommunications: Leaders’ perspective

David Tusa, Partner Adel Belcaid, Principal Booz & Company

Compiled by Al Watan Daily

KUWAIT: A specialized economic report revealed on Sunday that a kilogram of gold fell to its lowest level since last January to 14,000 US dollars influenced by pressure from several economic factors, notably the exchange rate of US dollar and the euro and volatility of oil prices. The report issued by the Al-Zumorrodah Holding Company announced that the prices of precious metals continued to decline in the last week, indicating that the ounce of yellow metal did not exceed $1,600 barrier and settled at the end of the week trading at a level of $1,569 following a drop in the middle week of $1,533. The report expected that the coming period would witness more “push and pull” in the interest of the US currency because expectations of the recent European summit “did not bring anything new,” referring to the difficulty of concluding any rescue agreements at the moment. It pointed out that the global economy’s concern is not confined to the survival of Greece or its exit from the euro zone, but it has gone beyond that to the fear of the disintegration of the European Union. It noted that the global financial markets are awaiting for something like a “miracle” from the new Greek government to be elected next June, in addition to the approval by some European leading officials for the issuance of a joint European bonds. With regard to prices of silver, the report said that silver trading followed suit of gold in the rise and decline in trading last week, where it lost 5.5 percent of its prices at the start of the week, but it stabilized at the end of the week, at a price of $ 28.71 per ounce. In more news, Exchange rate of the US dollar against the Kuwaiti dinar rose to 0.280 Kuwaiti dinars, while the euro dropped against KD to 0.350, compared to last Thursday’s figures, said the Central Bank of Kuwait (CBK) on Sunday on its website. Exchange rate of the Sterling pound dropped to KD 0.438, and the Japanese yen remained unchanged, at KD 0.003, whereas the Swiss franc also slipped to KD 0.292. Many factors affected the exchange market especially the dominant crisis of Greece’s sovereign debts which prompted investors to abstain from taking any risks. Fears are rising of Greece leaving the Eurozone due to its deteriorating economic and political circumstances, considering that in case it leaves the zone it would affect the European economies, namely those of Spain and Italy. The French initiative supporting economic growth

Buy 0.4385 Sell 0.4389

Exclusive to Al Watan Daily

Palestinian farmers harvest wheat in the village of Yatta near the Israeli settlement of Karmel in the occupied West Bank, outside the southern city of Hebron on May 27, 2012. The Palestinian economy is experiencing a serious drop in liquid assets that has worsened since last year due to a reduction in aid from Western and Gulf countries, as well as trade and movement restrictions imposed by Israel, an IMF report said earlier in the year. (AFP)

and alleviating the austerity measures in the region was strongly rejected by Germany in spite of approval of most of the European leaders. The initiative suggests creating common bonds for the euro zone countries in order to use all the options to fight against corruption. The US economy spent a calm week, while the Euro continued to drop to its lowest levels against the US dollar since two years ago. Risk aversion in markets

The US dollar strengthened against most of its major counterparts last week, amid better-than-expected data from the US housing sector and as data from Europe and the UK fuelled risk aversion in the markets. Europe experienced a sharp decline in the PMI composite, adding expectations that the area will witness a deeper recession than initially anticipated. Additionally, the market is expecting more actions from the ECB to help support the economy as the crisis starts to intensify, and as mar-

kets are starting to price in a Greek exit. The informal EU summit was a preliminary discussion to prepare for the European Council on June 28/29, where the EU leaders would attempt to produce a credible plan that addresses growth and additional banking integration. The single currency opened the week at 1.2781, and dropped gradually towards Thursday. On Friday, the currency broke major support levels and reached 1.2495, marking a two-year low and finally closed the week at 1.2515. The Sterling pound followed suit, as the UK economy returned to recession, after shrinking by 0.2 percent in the first three months of 2012. Bad economic data combined with risks surrounding the Euro zone pushed the Pound to close the week at 1.5628 after breaking a number of technical levels. The Japanese Yen opened the week at 79.08, and then rallied to 80.14 as the Central Bank of Japan maintained its key policy rate at a range of zero to 0.1 percent. The currency then range traded between 79.00 and 80.00, and closed within the range at 79.60.

Dubai’s JAFZA gets consent Tax could cost to repay $2 billion Sukuk early UBS up to 10% of Europe assets DUBAI: Dubai’s Jebel Ali Free Zone (JAFZA) said on Sunday it had received the consent from a majority of Sukuk-holders for early redemption of a two billion US dollar-equivalent Islamic bond. The state-linked industrial free zone, part of a unit owned by Dubai World, said a majority representing 89 percent of certificate holders had voted in favor of the Extraordinary Resolution in a meeting on May 24 in London. “Accordingly the consent conditions have been satisfied and the Deed of Amendment has been executed,” the statement on Nasdaq Dubai said. In order to change any terms of the certificates, the company was legally bound to seek approval from holders. Citigroup Inc, Dubai Islamic Bank and Standard Chartered were appointed as solicitation agents. The 3.01 percent, 7.5 billion UAE dirhams Sukuk was originally due in November. The company announced last month it was in advanced talks with financial institutions over a financing package to meet its debt obligation. Along with a $1.25 billion Sukuk issued by another state-owned entity, Dubai International Financial Center (DIFC) Investments, due in June, the JAFZA redemption was considered crucial to assess the ability of Dubai Inc firms to meet their debt maturities. In March, Reuters reported the company was preparing a threepronged approach to the refinancing, consisting of a syndicated loan, another Sukuk issue, and partial cash repayment. Asset sales are also an option. -Reuters

ZURICH: UBS AG could see up to 10 percent of its European assets of 300 billion Swiss francs (312.52 billion US dollars) moved out due to pressure to clamp down on untaxed accounts, the head of the wealth management business was quoted as saying on Saturday. “We have been losing assets in Europe for many quarters, around 10 billion francs to date,” Juerg Zeltner told the Finanz und Wirtschaft newspaper in an interview. “And we expect further asset outflows going forward, in the region of 12 to 30 billion francs. That’s a bitter pill to swallow.We are able offset this erosion thanks to strong growth in new markets.” Zeltner said UBS had assets under management of over 300 billion francs in Europe, over 170 billion francs in Asia, around 110 billion francs in emerging markets and 130 billion in Switzerland. “Banks that are focused largely on the European cross-border business are having a much tougher time,” he said. After mounting criticism of its tradition of strict bank secrecy, Switzerland has agreed to do more to help foreign governments hunt tax evaders and has signed deals with Germany, Britain and Austria to levy punitive taxes on undeclared assets held in its banks and a withholding tax on

future client income. Zeltner said he did not expect a mass exodus of clients once the deals come into force, in theory in 2013, although the German deal still faces some opposition from the Social Democrats. “The lion’s share of the German money leaving the bank will go to the tax authorities. There is no evidence of clients taking their money out of the country as they did in the US case,” he said. UBS paid a big fine and handed over details of more than 4,000 clients to US authorities in 2009 to settle allegations it helped wealthy Americans dodge taxes. “I see no indication that assets are being moved to Singapore or Hong Kong,” Zeltner added. UBS posted strong money flows into its flagship private bank in the first quarter, underscoring its appeal as a safe haven for the savings of the world’s wealthy. Switzerland’s biggest bank, scaling back its risky investment bank which suffered huge losses in the credit crunch to focus on private banking, said the unit won a net 6.7 billion francs in fresh assets and hiked margins. UBS is also trying to recover from a rogue trading scandal involving London-based Kweku Adoboli, accused of unauthorized deals that cost the bank $2.3 billion. -Reuters

Registration for NBK Summer Internship Program continues till Thursday

Student’s from NBK’s Summer Internship Program last year

KUWAIT: National Bank of Kuwait (NBK) announced in a press release on Sunday that the registration for the 2012 Summer Internship Program is open till Thursday May31, 2012. The program, specially designed for high school and college students between 15 and 20 years old, will start on June 10, 2012. The two-week courses of the Summer Internship Program consist of 5-hour daily sessions and feature a mixture of theoretical and practical training to provide interns with invaluable knowledge on a variety of subjects such as; teamwork, creative thinking, means of self-expression and modern banking, in addition to helping them to have greater exposure to daily banking work procedures. Talal Adel Al Turki, NBK Public Relations Officer, said, “NBK views the Summer Internship Program as an extension of its educative initiatives as part of its social responsibility. This annual program demonstrates NBK’s long-standing social involvement as well as its national commitment towards providing the young generations with the appropriate opportunities to experience how the actual professional banking issues and transactions are handled and processed”. Online registration for the Summer Internship Program is open until May 31 through nbk.com and through NBK official page on Facebook and Twitter.

KUWAIT: With the telecommunications sector going through a new revolution, the digitization revolution, Chief Executive Officers (CEO) and industry leaders face tremendous challenges to position their businesses for growth and to create new opportunities. This revolution is creating a world in which consumers and workers are efficiently and effectively connected by powerful devices using digital applications. The days when the prime concern was broadband access are waning. Today what matters is meeting the needs of picky consumers who are taking full advantage of the digitization revolution. In this rapidly changing context, Booz & Company assembled 23 industry leaders, including telecom operators, investors, and Internet players from the region and around the world to openly discuss how they will meet these challenges at the firm’s annual Communications Leaders’ Summit.These industry leaders met on the heels of a lackluster year and following months of regional and market volatility. A lot is riding on industry leaders being able to deliver continued success and sustainable returns. In order to achieve this, they must maintain shareholder value, determine the direction of the rapidly developing sector, and pinpoint and develop the capabilities that they need to survive and thrive in this new era. There are two significant drivers of shareholder value in communications companies. One is consolidation, which offers operators different approaches. Some might choose to combine with similar companies. Others may opt to partner with those in adjacent sectors. While summit attendees had differing views on which types of consolidation would dominate, they agreed that consolidation would inevitably play a role in helping improve shareholder value. Another means of boosting shareholder value is to focus on maximizing the return on existing investments or by investing for future growth. For years in the Middle East, operators have focused primarily on growth opportunities. The question is whether they can manage to change this mind-set and shy away from investing in such ventures. Summiteers agreed that telecom operators are unlikely to abandon their quest for growth although return-led investments may be a more prudent approach. Nonetheless, participants did see value in making a shift in investments due to market volatility. Indeed, many believe that operators should be solely focused on maximizing returns. Devising and executing the right strategy will be key, especially ones that build on telecom companies’ unique capabilities and favor open innovation. In today’s changing landscape it will be critical to make the most of existing capabilities and develop new ones. Operators, however, are overly focused on optimizing cost structure when dealing with operational capabilities. Such an approach may mean they do not develop the appropriate capabilities required to capture growth when the economy improves. Many of the summiteers agreed that the sector has recently suffered from capability gaps in its effort to capture growth. Still, it became clear that the expectations of shareholders pose a hurdle as they look to the industry for stability and cash flow rather than the ability to build new capabilities in adjacent areas. At the risk of disrupting shareholders’ quest for stability, operators have to imperatively develop the capabilities they lack to effectively compete. This is attainable through capabilities that support innovation, which can take on many forms. Some operators have prioritized process innovationcreating new business models and deploying advanced infrastructure to improve performance. Others focused on market innovation, creating new services, content, and applications. Regardless of which avenue they choose, most participants recognize that innovation is vital to their future. Leaders seeking innovation-related capabilities may need to think outside of the box. Some summiteers described the way they achieved this through their study of operational excellence at other companies known for efficiently and effectively meeting customer needs. Through this exercise, industry leaders were able to better understand how they could develop and implement similar innovative capabilities that would streamline their processes and ultimately improve efficiency. The final message from this highpowered discussion is that companies need to ensure growth despite an uncertain economic environment. That means understanding what they do well, how they can do it better, and ensuring that these capabilities allow them to be positioned to take advantage of economic recovery in a highly connected, powerful digital world. Disclaimer: Please note that the views and opinions presented in the column are the company’s own and do not necessarily represent those of Al Watan Daily and its staff.

KSE in red, loses 62.18 points

KUWAIT: The boards at Kuwait Stock Exchange (KSE) were still mainly in red by closing Sunday with the price index ending the day at 6, 277.21 points on a drop of 62.18 points, while the weighted index dropped 0.25 points to 409.46 points, and the KSX 15 index came to 980.61 points on a gain of 4.47 points. Trades came to 3,998 transactions worth 28,118,985.172 Kuwaiti dinars and volume reached 250,622,184 shares. Trading started at Kuwait Stock Exchange on Sunday with mixed indices and a sector indices board with a predominant red hue. -KUNA

ALWATAN DAILY

BUSINESS

monDAY, may 28, 2012

Jordan hikes gasoline, power prices to ease deficit AMMAN: Jordan has raised the price of gasoline and electricity for major mining firms, hotels and banks as part of International Monetary Fund (IMF) -guided austerity steps to ease its worsening budget deficit that could reach four billion US dollars this year. Sunday’s move was the first major rise in retail gasoline prices since street protests early last year - inspired by a wave of Arab unrest - pushed the authorities to expand social spending and freeze fuel price hikes, including gasoline. The price of premium petrol has been increased almost 20 percent while electricity tariffs have also been substantially raised for major industrial and service sectors of the economy, including banks and hotels. Prices of bulk liquefied petroleum gas (LPG), heavy fuel oil for industry, jet fuel and bunker fuel were also hiked in a move economists say will add to inflationary pressures and hurt the country’s exports competitiveness by pushing costs. The government, mindful of public fury that exploded into street clashes in the depressed south of the country after two price hikes in 1989 and 1996, has not raised the price of lower grade gasoline used by lower-income Jordanians - the majority of the country’s seven million population. Successive governments have adopted an expansionist fiscal policy characterized by sizeable state subsidies and salary increases in response to the months of protests. To head off greater unrest, the authorities also created new state jobs in an already bloated public sector, and maintained subsidies for bread and other staple goods, further straining public funds. In the latest sign of popular discontent, Islamist and tribal opposition groups held street protests against rising prices on Friday. Officials say the focus on taxing Jordan’s wealthy and big corporations while avoiding any moves to raise prices of subsidized gas cylinders for cooking or electricity for lower income households will ward off any troubles, especially in traditional trouble spots where anti-government protesters had warned they would resist price hikes that harm the poor.

FILE- A Jordanian man walks outside the Roman amphitheatre in downtown Amman in this file picture dated June, 17 2007. Jordan has raised the price of gasoline and electricity for major mining firms, hotels and banks as part of International Monetary Fund (IMF) -guided austerity steps to ease its worsening budget deficit that could reach four billion US dollars this year. (AFP)

Jordanian officials say the price hikes will show a serious commitment to fiscal consolidation and win the International

flydubai secures aircraft financing worth $172 million

KUWAIT: flydubai, Dubai’s innovative low-cost airline, has signed with Pembroke, a wholly owned subsidiary of Standard Chartered Bank specializing in aircraft leasing, financing and management services, to finance two Boeing 737-800NG aircraft. This was stated in a press release on Sunday. The eight-year sale and leaseback agreement represents financing of 172 million US dollars in list prices and follows the request for proposal (RFP) issued by flydubai for its 2012 aircraft funding requirements. The two new aircraft will enter the flydubai fleet in June and July, increasing the low-cost carrier’s capacity, while supporting network growth across the Gulf Cooperation Council (GCC), Middle East, North Africa, Indian Sub-Continent, Asia, and Central and Eastern Europe. flydubai’s CEO, Ghaith Al Ghaith, said, “The enthusiastic response to our RFP, which was once again over-subscribed, is a positive start to our fourth year of operations. This is the first such agreement we have made with Standard Chartered’s subsidiary, Pembroke, and underpins the continued confidence lessors have in us as we drive growth by increasing capacity and connectivity. We have expanded rapidly to become the second largest carrier operating from Dubai International Airport and growing our fleet allows us to serve more passengers around the region.” Jonathan Morris, Chief Executive Officer, Standard Chartered UAE, said, “The UAE is one of Standard Chartered’s top five markets globally and we are committed to helping our clients expand their businesses in the UAE and globally. As an international bank, we strive to bring best international practice in banking and finance and we are glad to extend this facility to flydubai.” In tandem with the growth of its route network, flydubai has also established one of the fastest-growing and youngest fleets in the region. It has pioneered state-of-the-art features such as the Boeing Sky Interior and the ‘Fiber-To-TheScreen’ In-Flight Entertainment system by Lumexis, which offers passengers 500-hours of non-stop entertainment, including more than 150 movies, 160 TV programs and 280 music albums. Once these latest aircraft are delivered, more than 70 percent of flydubai’s fleet will be equipped with IFE. Kieran Corr, Chief Commercial Officer Pembroke Group, said: “We are pleased to combine the global aviation capabilities of Pembroke with Standard Chartered’s local expertise to provide a tailored leasing solution to flydubai. This transaction is a further testament to Standard Chartered’s continued commitment to our airline clients in the Middle East.”

China enters new era of services expansion with Singapore CPG buy

BEIJING: China broadened its overseas investment strategy into the services industry on Sunday, with the country’s top state-owned design and management purchasing a Singapore design firm. China’s “going out” policy has led to a number of overseas acquisitions in the past decade, primarily in the natural resources and equipment sectors, as the nation draws on its stockpile of foreign reserves to obtain much-needed raw materials. Having invested heavily in “hardware,” Beijing is now encouraging the upgrade of the nation’s “software” or technical skills. On Sunday, China Architecture Design and Research Group, the country’s largest diversified state-owned engineering design and services company, announced it had bought CPG Corporation from Australian heavy engineering firm Downer Group for 147 million Australian dollars. The deal was brokered by Swiss investment bank UBS. “This is the first time for China’s high-tech services industry to go out and successfully complete an overseas acquisition,” Xiu Long, the head of the Chinese group, told reporters. “This is not an opportunistic purchase but part of the national policy to encourage going out and improving international competitiveness.” CPG Corporation, formally Singapore’s Public Works Group, specializes in designing public buildings and infrastructure, especially roads and bridges, including Qatar’s new airport in Doha. The deal includes its subsidiaries in the Asia-Pacific region, and its five percent stake in an industrial park in Suzhou. -Reuters

Monetary Fund’s (IMF) continued support and further aid. An IMF team raised with officials at

a meeting last month the prospect of the country facing a bleak economic plight if the authorities fail to contain the public sector wage bill and restore fiscal prudence. The cabinet also announced longplanned electricity tariffs for key corporate sectors including banking, a pillar of the economy, a move that will hit the country’s struggling businesses, already reeling from the slowdown. A senior official told Reuters that the government also planned raising taxes on banks, mining firms and large corporations, along with slapping higher taxes on luxury items. The moves, seen as appeasing protesters demanding a fight against corruption and angry at a widening gap between the rich and poor, were criticized by a business community already reeling under heavy direct and indirect taxes. They say such moves will not only scare investors but a drop in business activity where growth has halved in the last few years from a high six to seven percent during a boom period until 2008, will offset any gains from higher taxes. The budget deficit has been accentuated by a soaring energy bill that hit $4.5 billion last year after the disruption of regular Egyptian gas imports that support 80 percent of Jordan’s electricity generation. That forced the kingdom to switch to much more expensive diesel to cover its electricity needs. Economists said Jordan’s ability to maintain a costly subsidy system and a large state bureaucracy, whose salaries consume the bulk of the $9.6 billion of state expenditure, was increasingly untenable in the absence of large foreign capital inflows or infusions of foreign aid. The austerity package has become more pressing with absence of any commitment so far by Saudi Arabia, which came to the rescue of the kingdom last year with a $1.4 billion cash injection, to extend any extra aid to bolster the kingdom. Officials say the rise in gasoline prices along with fiscal prudence and restraint will help Jordan meet an IMFbacked budget deficit target of around six percent of gross domestic product after grants that traditionally cover budget shortfalls. -Reuters

Canada’s RIM to cut at least 2000 jobs

TORONTO: Research In Motion (RIM) Ltd is preparing for a major restructuring beginning in the next couple of weeks that will see it eliminate at least 2,000 jobs worldwide, the Globe and Mail reported on Saturday, citing unnamed sources. The Canadian newspaper, citing several people close to the company, reported that the next round is layoffs is said to be planned for around June 1 - a day before the BlackBerry smartphone maker’s first quarter ends - but some expect the announcement even earlier. One source close to the company told Reuters the impending layoffs could hit as many as 6,000 people and affect RIM’s legal, marketing, sales, operations, and human resources divisions. “The strategic question is: are you accelerating into a better future or shrinking to a niche operation,” said the source, who declined to be identified due to the sensitive nature of the job cuts. A RIM spokeswoman contacted by Reuters declined to comment on the report. But she pointed to comments that new Chief Executive Thorsten Heins and Chief Financial Officer Brian Bidulka made on RIM’s last earnings call about plans to streamline operations and save one billion US dollars in the fiscal year. The spokeswoman said RIM now has about 16,500 staff globally. This is down from a peak closer to 20,000. RIM reported a fourth-quarter loss in March, when the new chief executive officer (CEO) announced the initial steps in a strategic overhaul. Heins took over from longtime co-CEOs Mike Lazaridis and Jim Balsillie in January. Once the dominant player in the wireless e-mail sector, RIM has lost market share due to fierce competition from Apple Inc’s iPhone and phones running on Google Inc’s Android software. RIM has already been through one round of restructuring. Last July it announced plans to cut about 11 percent of its workforce, or 2,000 jobs. A string of high-level employees have departed RIM recently, including global head of sales Patrick Spence, who was set to take a senior job at audio company Sonos. Several sources close to the company told Reuters RIM had been letting more junior staff go for several months in what has come to be known internally as ‘Goodbye Thursdays,’ because the cuts typically occurred on that day of the week. The job cuts have failed to boost the company’s stock. On Thursday RIM shares hit a multi-year low of 10.87 Canadian dollars on the Toronto Stock Exchange. The stock changed hands for more than 150 dollars in 2008. -Reuters

Ukraine’s $13.4 billion soccer spend might become debt burden KIEV: Ukraine may never recover all of the billions of dollars it has spent to cohost next month’s European soccer championship and the outlay might complicate its chances of servicing its debt. The staging of the month-long Euro 2012 tournament - absorbing a total of 13.4 billion US dollars including $6.6 billion from state coffers - is unlikely to make the former Soviet republic any more inviting for foreign investment, analysts say. And despite the hopes of tour operators and the authorities themselves, once the competition - taking place in four Ukrainian cities - is over and the fans have gone home, it is by no means certain that Ukraine will have registered itself as a new European tourist destination. The mathematics of financing Euro 2012, being co-hosted with Poland, are crucial for a country which faces $11.9 billion in debt obligations this year, $5.3 billion of which is denominated in foreign currencies - making it sensitive to movements on foreign exchange markets. The issue looms large as in June, the government has to repay a two billion dollars loan to Russia’s VTB Capital and $500 million in outstanding Eurobonds. Kiev has failed to agree on a new credit line with the International Monetary Fund (IMF) and has for more than a year been unable to issue Eurobonds to help cover state spending, which has spiked ahead of October’s parliamentary election. The jailing of opposition leader Yulia Tymoshenko, sentenced to seven years in October for abuse of office, has hurt confidence in Ukraine’s creditworthiness and led to a boycott of the sporting event by some of top European politicians. “Ukraine will not receive any financial income or significant economic impact from co-hosting the Euro 2012 championship,” Andriy Kolpakov, managing partner at analytical group Da Vinci AG, said. “And any possible improvement in image has run up against internal politics and the

European Union’s reaction to it.” Ukraine’s high level of corruption has scared off some foreign investors, while skyrocketing hotel prices have made many soccer fans either cut short their stay or skip it altogether and opt to follow their team’s fortunes on television. Based on the government’s program, the state has spent some $6.6 billion from its budget on Euro 2012 preparations - a total which rises to $13.4 billion once input from state companies and private investors are included. “In effect, the (state) budget took on the additional debt burden and taxpayers for many years to come will be paying for the Euro soccer holiday,” said Erik Nayman at brokerage Capital Times. Analysts at Da Vinci forecast financial losses suffered from hosting the champi-

onship could total between $6 billion and $8 billion. Drop in the ocean

The National Bank of Ukraine sees $1 billion in capital flowing into the country from visitors who will spend on restaurants, hotels and souvenirs during the month-long championship in Kiev, Donetsk, Kharkiv and Lviv. But some see lesser benefits and Da Vinci estimates the influx at no more than $800 million. Ukraine’s authorities argue much of the spending was necessary anyway. “Without international airports and transport infrastructure the country will not receive any foreign investment,” Deputy Prime Minister Borys Kolesnikov, charged with preparing for the champion-

FILE - Ukrainian National football team captain Andriy Shevchenko (left) and President of the Ukrainian Football Federation Grygoriy Surkis set an EURO 2012 tournament cup on Independenca square in Kiev during its presentation on May 11, 2012. (AFP)

ship, said. But not all agree. “There is no direct correlation - foreign direct investment (FDI) will increase only by improving the investment climate, that is, with less bureaucracy,” said Alexander Valchishen at brokerage Investment Capital Ukraine. Whether the money has been well spent is also a moot point. “Despite years of preparation, a decent tourist infrastructure and facilities have not been created to entice the majority of the fans to return to Ukraine,” Kolpakov said. “You can forget about a serious surge of interest in Ukraine from Western tourists.” So far there seems little evidence that FDI is following the government’s spending. According to the State Statistics Service, FDI into Ukraine was down last year at $4.6 billion, down from $4.7 billion in 2010 and significantly less than the $8 billion which Ukraine attracted in 2005 in the wake of the pro-Western Orange Revolution. Nayman at Capital Times expects a huge debt burden on the budget. “If we assume a 12 percent interest per annum, that means that about 10 billion hryvnias ($1.2 billion) from the budget each year goes just to pay for interest payments. And then, there is still the need to refinance the debt,” he said. Nayman added that around half of the state’s current domestic debt issued in bonds, or some 80 to 90 billion hryvnias, can be directly linked to government spending on Euro 2012. Some analysts say mounting state debt payments along with unclear prospects for government borrowing on world capital markets increase the risk of hryvnia instability. “The government will be making every effort to prevent the collapse of the hryvnia before the parliamentary elections,” said Vasily Yurchishin at nongovernmental think-tank Razumkov Centre. -Reuters

Renaissance unit Topaz inks phase one of debt plan DUBAI: Topaz Energy and Marine, a unit of Oman’s Renaissance Services, has signed the first phase of a 330 million US dollars refinancing loan agreement with banks, its parent said in a statement to the bourse on Sunday. The plan totals $203 million and was arranged and financed by Standard Chartered, DVB Bank and First Gulf Bank, the statement from Renaissance said. The transaction is a seven-year shipping finance deal, secured against the company’s vessels, a banking source familiar with the transaction said. The source, requesting anonymity, added talks were ongoing with three to four other parties about joining the facility. “Stripping out the engineering unit into a separate

company was a good move. The marine part has got healthy cashflows so we’re comfortable backing it,” the source said. The plan will refinance Topaz’s existing borrowings and releases $60 million in trapped equity. Topaz operates mainly in the Middle East, North Africa and Caspian Sea region, running a fleet of 100 offshore support vessels. A $57 million second phase is planned for later this year, according to a Chairman’s Report on first-quarter results, and Vishal Goenka, Renaissance group’s chief financial officer said that international and regional banks were interested. United Arab Emirates - based Topaz appointed banks

in November to lead the refinancing initiative. It was hit by a $2.9 million fraud scandal last August, and prior to that, in March, forced to pull a London listing amid valuation concerns and regional unrest. The company originally said it was seeking $380 million for refinancing, and expected the deal to close by the end of last year. Its operating profit fell to 5.8 million rials ($15.06 million) in the first quarter, from 8.8 million rials in the prior-year period according to financial statements. Shares in Renaissance ended one percent lower on Sunday. The stock is down 5.5 percent this year, after slumping over 50 percent in 2011. -Reuters

ALWATAN DAILY

BUSINESS

MONdAY, may 28, 2012

Lloyd’s of London prepares for Greek exit

LONDON: The Lloyd’s of London insurance market has reduced its exposure “as much as possible” to the crisis-hit euro zone in preparation for a collapse of the bloc’s single currency, its chief executive told the Sunday Telegraph newspaper. Richard Ward said Lloyd’s had put in place a contingency plan to switch euro underwriting to multi-currency settlement if Greece abandoned the euro, and that it could have to take writedowns on its 58.9 billion Sterling pounds (92.1 billion US dollars) investment portfolio if the euro zone broke up. “With all the concerns around the euro zone at the moment, we’ve got to be careful doing business in Europe and there are a lot of question marks over writing business in the future in euros,”

Ward told the UK newspaper. “I don’t think that if Greece exited the euro it would lead to the collapse of the euro zone but what we need to do is prepare for that eventuality,” he said. Europe accounts for 18 percent of Lloyd’s 23.5 billion pounds of gross written premiums, mainly in France, Germany, Spain and Italy, the newspaper said. On Wednesday, Reuters reported that each euro zone country was preparing a contingency plan for the eventuality of Greece leaving the single currency. Lloyd’s, which traces its origins back 324 years to a London coffee house where merchants met to insure ships, suffered its second worst ever loss last year after absorbing record claims from catastrophes including Japan’s Tohoku earthquake. -Reuters

Sunday 27 May, 2012 Index Price index Weighted Index KSX 15

Majority of MENA residents have positive sentiments for the year to come: Bayt.com KUWAIT: The latest Consumer Confidence Index, conducted by Bayt.com, the Middle East’s number one job site, and YouGov, a research and consulting organisation, has revealed that the majority of Middle East and North Africa (MENA) residents have either maintained or improved upon their financial status in the past 12 months, with more positive sentiments for the year to come. This was stated in a press release on Sunday. Regional sentiment

While roughly a third of regional respondents to Bayt.com’s Consumer Confidence Index experienced a decrease in their finances in comparison to 2011, another third (34 percent) state that they have not had any change at all. More than a quarter (27 percent) claim to have an improved financial situation. Country economies are considered by most to be either the same or worse than last year, and the majority of respondents believe that this is a neutral or bad time to purchase durable consumer goods and that business conditions are unfavourable. Only 12 percent claim that there are jobs readily available. The MENA-wide sentiment (as per 67 percent respondents) is that remuneration and compensation are not keeping pace with the cost of living, with a majority of respondents (40 percent) stating dissatisfaction with their current job and career prospects along with chances for growth (39 percent). Despite this, job security appears not to be too much of an issue for professionals in the Middle East and North Africa; a collective 61% claim their job security to be ‘neutral’ to ‘high’. The overall sentiment is that there will be little growth in terms of number of employees in companies in the coming three months, with 37% stating that they feel ‘neutrally’ about staffing requirements being met. As far as the year ahead is concerned, the outlook is positive across the MENA. Respondents consistently believe that their personal financial situation will take a turn for the better. The majority also say that the same will be true for their country’s economy, business conditions and employment availability, too. This positivity however doesn’t extend to the cost of living or real estate; 39 percent and 36 percent of respondents, respectively, believe that these will be negatively impacted in the future. Only 27 percent of respondents will consider buying a new vehicle in the next year. Those who will are more likely to buy new. The same is true of the 21 percent who are looking to buy property. In terms of intention to make ‘smaller’ purchases, desktops and laptops continue to be top in popularity, followed by furniture and digital cameras. “Feelings towards economy, commerce and employment are relatively consistent across the MENA region, with regional sentiment for the current situation remains relatively low. However, there is always hope for a more positive tomorrow. That employees feel secure in their current job is a welcome find,” said Suhail Masri, Vice President of Sales, Bayt. com. “At Bayt.com, we gather information that is relevant to both job seekers and employers, combining our knowledge of the industry and region to deliver tools pertinent to the millions of people who use our job site for recruitment purposes.” “With the majority of people stating that their financial situation has either remained the same or improved over

the last year, it may be that the positive outlook for the future may be realistic,” said Sundip Chahal, chief executive officer (CEO), YouGov. “While the majority say that now is a bad time for business, there are some countries that are clearly experiencing a more positive commercial atmosphere - which, undoubtedly, is a good sign for things to come.” In Kuwait

For the most part, the situation in Kuwait follows that of the rest of the region. Respondents state that their financial situation is either the same or better now as it was 12 months ago, though they believe that the country’s economy has remained the same. People in Kuwait believe that this is a neutral time to buy consumer durable goods. Business conditions are also considered to be neutral. The outlook for employment in Kuwaitis slightly better than elsewhere in the region, with 41 percent claiming that there are ‘not many’ jobs as opposed to the 37 percent who say there are ‘very few’ available. One third (34 percent) of Kuwait respondents state that there are fewer employees working in their company now than there was last year, while 69 percent of them believe that their salary has not kept pace with the cost of living, and 51 percent say that their compensation is inadequate. This does not seem to have had too negative an effect on job satisfaction, though. More than half (58 percent) opted for ‘neutral’ or ‘high’ to describe their satisfaction with their job and career prospects with their current employer; 62 percent state that their prospects for growth are ‘neutral’ to ‘high’. An additional 64 percent state that they have ‘neutral’ to ‘high’ satisfaction with their perceived job security. In the next three months, most Kuwait respondents believe that there will be few additional employees added to their company (45 percent claim to have a ‘neutral’ sentiment in this regard). Similarly, 43 percent are neutral as to whether or not their company will keep up with staffing requirements. In terms of financial situation, Kuwait respondents are positive about the year ahead, with the majority believing that both their financial situation (54 percent) and the country’s economy (49 percent) will have improved. Business conditions are expected to be better, according to 51 percent of respondents, though 29 percent believe that employment conditions are expected to be worse. Residents in Kuwait believe that the cost of living (36 percent) and cost of real estate for rental or purchase (32 percent) will be negatively impacted in the year to come. Roughly a third of Kuwait residents (30 percent) are expecting to buy a vehicle in 2012, of which 50 percent say they will opt to buy new. Just over a quarter (27 percent) are considering investing in real estate, and of these, 18 percent are considering buying a lived-in property. In terms of household goods, the most popular anticipated purchase is a laptop or desktop, followed by furniture and LCD or plasma televisions. Data for the quarterly Bayt.com Consumer Confidence Index survey May 2012 was collected online from April 18 - May 7 2012, with 10,138 respondents aged over 18 years, covering Gulf Cooperation Council (GCC) Arab, North African, Levant, Western Expatriate and Asian nationalities. Countries who participated are United Arab Emirates (UAE), Saudi Arabia, Kuwait, Oman, Qatar, Bahrain, Lebanon, Syria, Jordan, Egypt, Morocco, Algeria, Tunisia and Pakistan.

-62.18 -0 25 -0.25 4.47

Volume

Last Closing

High

Low

6,277.21 409 46 409.46 980.61

6,339.39 409 71 409.71 976.14

6,343.43 410 35 410.35 980.61

6,258.05 407 05 407.05 970.74

Trades Value (KD)

Trades

High

MARIN

144

140

40000

5 680 5,680

IKARUS

190

188

10,107

1,900

IPG

320

8,031

2,570

NAPESCO

Low

Closing

Security

Last

140

188

Change

ź ź

320

124

73 323 73,323

10,000

1,280

-20.0

SRE

260

255

38,000

9,740

0.0

TAM

228

20,020,000

4,564,560

AREEC

164

158

307

MASSALEH ARABREC

114 37

106 36

506 542,298

58 19,691

2 17

0.0

0 3

GPI

75,001

4,708

ABAR

212

194

251 155,390

52 17,638

3 19

212 977.18

Ÿ ź

8.0 -13.99

110

108

169,000

18,512

110

0.0

KFOUC

345

14,700

5,072

BPCC

610

600

372 756 372,756

223 664 223,664

610

216

212

1,292,683 1,849,139

276,189 523,436

55 76

212 976.77

ź ź

KCEM

REFRI

168

166

21,000

3,488

CABLE

ALQURAIN Basic Materials

1,300

1,280

86,033

111,533

SHIP

240

226

50,562

11,630

PCEM

910

890

146,023

130,495

PAPER

202

190

22,909

4,384

MRC

122

350

ACICO

248

242

119,495

29,488

GGMC

850

HCC

KPAK

KBMMC

NICBM

285

270

40,314

10,905

EQUIPMENT

NCCI

GYPSUM

SALBOOKH

170,000

5,660

AGLTY

405

395

626,936

250,704

EDU

130

CLEANING CITYGROUP

136 0

130 0

646,500 0

85,202 0

28 0

168

230

1,280 910

ź Ÿ

192

248

122

850 0

280 0

ź ź ŷ ŷ ź ŷ ŷ

400

130

ź Ÿ

130 0

ź ŷ

-1.0

0.0

-1.0

MABANEE

980

970

1,397,816

1,360,868

INJAZZAT

INVESTORS

17,284,533

332,538

238

-4.0 -0.85

IRC ALTIJARIA

55 83

50 82

3,304,000 2,852

178,332 235

52 2

SANAM

590,000

35,400

0.0

AAYANRE

1,601,357

129,812

-4.0

AQAR

1,000

ALAQARIA

0.0

MAZAYA

281,000

22,432

ADNC

-6.0

THEMAR

GRAND

2.0

TIJARA

440,000

17,880

TAAMEER

78,502

3,926

0.0

ARKAN

0.0

ARGAN

158

ABYAAR

7,244,299

335,050

-5.0

MUNSHAAT

326,404

11,288

0.0

FIRSTDUBAI

346,245

13,095

KBT

0.0

REAM

MENA

355,009

14,118

-5.0

ALMUDON

5.0

0.0 0.0

-40.0 10.0 -8.0

-50.0

0.0

-1.0 2.0

1,360

1,340

93,000

125,270

CGC MTCC

476,850

43,478

UPAC

375

80,000

30,000

ALAFCO

295

290

184,829

53,651

MUBARRAD

LOGISTICS

280

270

776,650

214,119

SCEM

70,000

5,850

GCEM

400,318

38,771

1,340 92

ź ź ź

375

295

275

83 0

0.0

IFA

6,887,160

308,930

114

NINV

130

124

1,387,151

174,339

KPROJ

325

320

350,500

112,163

COAST

160,201

7,655

TII

4.0

0.0 2.0

-1.5

-60.0 -3.0

SECH

-25.0

IIC

SGC

160

100

0.0

IFC

407,936

38,995

MARKAZ

116

114

478,468

55,346

0.0

-10.0 -2.0

KMEFIC

0.0

AIG

ALAMAN

310,700

10,920

-5.0

ALOLA

144

5,900,000

849,600

ALMAL GIH

48 35

46 32

79,560 7,946,000

3,728 265,822

14 115

0.0

RKWC Industrials

0 26,794,460

0 1,684,190

0 536

0 948.73

ŷ ź

0.0 -13.84 13.84

KSH

0.0

PAPCO

140

120

CATTL

DANAH

220,560

19,296

POULT

1,320

6,098 226,660

8,049 27,346

2 18

1,320 977.18

ŷ ź

0.0 -12.76

MHC

238

ATC

900

2,500

2,250

YIACO Health Care

445

425

572,300 574,850

251,779 254,041

41 43

445 1213.48

Ÿ Ÿ

25 61.25

KCIN

KHOT

1 172 2

172 1 2

6,364 6 364

1,095 1 09

SULTAN

FOOD Consumer Goods

104

102

177,800

18,447

CABLETV

EYAS

IFAHR

MASHAER

270

265

154,500

41,565

OULAFUEL

900

ŷ ŷ

172 1 2

102 0

ź ŷ

265

285

0.0

0.0 0.0

-10 10 -2

ALNAWADI

108

5,000 5 000

540

ALRAI

120

116

5,045

585

ZIMAH

246

3,440

846

0 372,041

0 68,579

0 50

0 962.84

ŷ ź

710

700

9,343,221

6,633,617

710

2,260

2,100

260,927

552,342

3,019,084 12,623,232

228,150 7,414,108

83 198

75 913.75

ź ź

-5 -9.84

1,060

KOUTFOOD Consumer Services ZAIN NMTC

HITSTELEC 79 Telecommunications

2,260

200

ISKAN MADAR

0 0

77 0

ŷ Ÿ ŷ ŷ ź

0 0

ŷ ŷ

594,404

21,988

ALSALAM

255

240

2,856,500

690,558

EKTTITAB QURAINHLD

83 0

79 0

1,995,110 0

160,211 0

77 0

ALMADINA

NOOR

168

164

221,000 221 000

36,806 36 806

TAMINV

225,150

10,779

AMWAL

MASAR

ALIMTIAZ

ź ź

ALDEERA

47 33

ALSAFAT

GNAHC

-2.0 0.0

-1.5 -2.0 2.0

240 79 0

ź ź ŷ

164

31 66 0

ŷ ź ź ŷ Ÿ

2.0

0.0

-3.0 0.0 0.0

-0.5 0.0

-10.0 -5.0 0.0 0.0

0.0

-4.0 40 0.0

0.0

-0.5 0.0

-3.0 3.0 0.0

1.0

0.0

-1.0 10

5,371,969 5 371 969

186 201 186,201

108

NIND

222

869,026

192,924

UIC

56,119

4,874

BIIHC

89,947

5,746

0 8.60 -8.60

SHOP SENERGY

0 77

0 74

0 1,032,000

0 78,246

0 24

AGHC

144

138

1,164,748

163,522

ALSAFWA

12,832,048

259,885

KPPC

1,030,805

75,930

TAHSSILAT JEERANH

0 99

0 89

0 4,001

0 356

0 5

EKHOLDING

285

5,000 5 000

1,425 1 425

285

GFH

78,069,143

3,356,919

773

INOVEST Financial Services

1,246,000 132,037,852

64,508 7,210,155

17 1,826

53 949.39

ź ź

-3.0 -15.39

-19

1,040

102,094

106,489

GBK CBK

410 790

400 750

677,985 5,044

274,035 3,833

21 5

ABK

590

570

24,448

14,424

ALMUTAHED KIB

890 265

880 265

2,078 346,720

1,829 91,881

BURG

420

415

717,790

301,332

420

KFIN

750

730

2,652,868

1,956,545

199

740

BOUBYAN

620

610

347,088

211,724

UGB

180

500

AUB ITHMR

168 44

168 42

46,000 46 000 15,146,606

7,728 7 728 657,879

3 235

20,069,221

3,627,789

545

980.19

4.84

410

ź ŷ ź

-2.0 0.0

-1.0

0 77

ŷ ź

140

-4.0

133

-0.5

0 89

ŷ ŷ ź

0.0 2.0 -2.0

0.0

0.0 -5.0

-10.0 10 0 -2.5

410 750

ŷ ź

570

-20

3 8

890 265

ŷ ŷ

0 0

0 0.00

ŷ ŷ

0.0 0.00

MAREF 0 Investment Instruments

ASC

0.0

SAFTEC

FUTURE

244

1,270

310

HAYATCOMM Technology

118

116

125,000 125 000 126,270

14 14,510 510 14,820

14 16

116 1134.42

Ÿ ź

BAREEQ

0.0

AFAQ

0.0

480

KINS

GINS

495

280

139

AINS

410

11,044

4,528

WINS

610 180

168 44

495 126

ŷ Ÿ ŷ Ÿ

0 -30

222

0.0

MANAZEL

1,060

NIH

MANAFAE

NBK

Banks

KAMCO

246

15,762

234,514

KCIC

120

KFIC

108

100

FUTUREKID

SOOR

1,500

OSOUL

GLOBAL

0.0

144

-0.5

KSHC

JAZEERA

1.0

-2.0

STRATEGIA

116

-10.0

160

0.0

5,501

380

0.5

0.0

19,892

-5.0

10,001

-6.0

270

285

320

5.0

-2.5

EXCH

-15 15

124

AAYAN

TAIBA

BAYANINV

MUNTAZAHAT

UFIG

-10.0

270

-5.0

0.0

102

1,035

0.0

2,476

11,500

53,080

0.0

-2.0

24,271

120

196,520

NSH

-1.5

270

102

FCEM

275

0.0

QCEM

0.0

10.0

102

234

FACIL

452,646

158

-4.0

KINV

680

22,082,001

-5.0 -10.88

ź ź

100

0.0

-1.0

340 972.50

MAYADEEN

0.0

25 665

2,288

0.0

94,577 7,269,887

44,000

-8.0

275,804 55,754,780

20.0

0.0

-1.0

0.0

340

-1.0 -2.0

106

ź ź

0.0

-1.0

345

355

1,440

53 82

-20.0

REMAL Real Estate

MARAKEZ

970

-10.0 0.0

4.0 0.0

7,003

75,682

Ÿ ŷ

0.0

-4.0

GFC

0.0

76,120

687,000

SAFWAN

114 37

106

158

-2.0

-5.0

355

228

-4 0 -4.0

112

NAFAIS

255

ź ź

355

106

128

Change

ERESCO

KCPC

PEARL

Last

UREC

KGL HUMANSOFT

Trades

691 727 691,727

2,728

Trades Value (KD)

128

ALKOUT

Volume

106

22,000

Low

106

345

High

128

124

Oil & Gas

251,012,290 28 142 303 28,142,303 4,023

URC

Security

Volume Value (KWD) Number of Trades

NRE

124

-6 0 -6.0

-2.0

AREFENRGY

PIPE

Only 31% MENA residents’ financial situation declined in past year

Change ź ź Ÿ

0 6

0 3

-5.0 5.0

ALSHAMEL

0.0

SAFRE

12,953

253

AJWAN

19,674

797

0.0

SPEC

480

470

22,000

10,350

MASAKEN

335,469

11,917

5.0

DALQAN

ALEID

MIDAN FLEX

0 0

-6.0

126

225

KUWAITRE

FTI

250

WETHAQ

26,500

2,279

ARIG

BKIKWT Insurance

0 38,299

0 6,998

0 7

0 1097.53

ŷ Ÿ

0.0 2.35

AINV

SOKOUK KRE

0 54

0 52

0 803,000

0 42,245

0 24

96 0

0 54

ź ź ŷ

ŷ ŷ

-6.0 00 0.0

0.0 0.0

244

41 37 0

ŷ ź

ŷ Ÿ ź ŷ

0 0

ŷ ŷ

0.0

-16.0

2 2.0 0 -11.02

0.0

2.5

-15.0 -1.5 0.0

00 0.0

0.0 0.0

THURAYA

0.0

KCLINIC

0.0

AMAR Parallel Market

0 390,096

0 23,316

0 24

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

0 968.78

ŷ Ÿ

0.0 0.67

STOCKS WITH NBK CAPITAL

ALWATAN DAILY MONday, may 28, 2012

April 2009 May21, 27, 2012

1% 6%

1% 6% Oman

113 Qatar

Qatar

100

95 90 27-Mar-12

27-Apr-12 Composite

GCC Best Performers

MENA Best Performers

-1%

-6%-2

19-Apr-0

Country (Index)

% Chg.

YTD

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

Index 6,989

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

2,460 5,250

-0.2% -4.0%

Qa UAUAE Qatar (DSM Index) (ADSM Index)

8,490 2,695

0.3% 0.6%

Ku Kuwait (KSE Weighted Index)

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

OmOman UAE(MSM (DFMIndex) Index)

Level 409

1,480 406

5,682 1,745

Ba Qa Bahrain Qatar(BSE (DSMIndex) Index)

1,143 5,590

Jo Jordan (Amman General Index)

1,896

Eg Egypt (EGX 30 Index)

OmOman (MSM Index)

Ba Bahrain (BSE Index)

M Morocco (Casa All Shares Index)*

Eg Egypt (Hermes Egypt Index (HFI))*

Le Lebanon (Beirut SE Index)

Jo Jordan (Amman General Index)

Pa Palestine (Al-Quds Index)

M Morocco (Casa All Shares Index)*

Tu Tunisia (Tunis SE Index)*

Le Lebanon (Beirut SE Index)* *Market Closed

Pa Palestine (Al-Quds Index)

4,798

5,478

1,681

10,052

463

1,164

2,825 455

10,621

5,058

1,094 546

Tu Tunisia (Tunis SE Index)* * Market Closed

3,282

52 Wk High

%-0.4% Chg.

8.9% YTD

-0.1%

0.1% 1.8%

-0.5% 1.9%

-0.2% 3.9% -3.5%

5.1%

0.0%

0.4% -

0.0%

2.2%

0.5% -

0.9% -

0.9%

52 Wk 7,931 High 444

2.4% 9.3%

2,775 10,090

-3.2% 12.8%

8,892 5,148

9.4% -0.2%

-0.2% 6.6% 0.0% -18.8%

32.5%

0.7%

-4.9%

-6.8%

-9.6%

8.5%

-1.1%

2.4%

-4.6%

52 Wk 5,916 Low 396

11.57 7.29

0 196

17,167 65,352

9.03 8.85

26,313

12.48

63,640

7.67

3,587

1,129 4,230

2,178

1,879

2,903

1,033

1,379

5,044 513

23.6%

739

5,141

2,119

13.6%

3,418

4,224

31,288 98,547

17,808 37,413

1,572

9,747

328

1,154

2,551 453

9,406

4,116

1,043

407

2,837

18,727

1.68

1.53

8.07

1.29

2.85

1.56

6.20

33,782

12.71

9,668

16.23

2,465

0.81

2.15

9.05

59,990

1.08

18.36

8,507

1.33

14.48

10,369

3.95

1.79

6.47

2,079

0.86

8.67

6,576

MENA Worst Performers

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

CG Combined Grp Contracting Co.

225 Saudi Industrial Inv. Grp.

101 Riyad Bank

SAR 24.70

-6.4%

119,894,682 113,679,548

201 Saudi Basic Industries Corp. (KSA)

Turnover (USD)

61,463,466

115 Alinma Bank (KSA)

343,553,085 55,363,348

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

119,955,261 24,100,277

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

97,126,838

NBKNational Bank of Kuwait (KUW)

1,369,577,677

Market Cap. (SAR '000)

-6.8%

Turnover (USD)

MENA Highest Turnover

5,070,827

Turnover (SAR '000)

-3.4% -8.9%

-3.2% -8.6%

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

88,742,222 64,280,166 Close

% Chg.

34.40

7030.SSE Zain - Saudi Arabia

1.2%

9.05

7,931 / 5,916 2280.SSE Almarai Co.

Tadawul Index 52 week High / Low

110

-4.6%

SAR 24.10 SAR 48.00

SAR 13.70

GCC Highest Turnover

0.30

Advance/Decline Ratio

% Chg.

KWD 0.570 SAR 22.95

58% 1060.SSE SABB

% of stocks trading above 1yr avg. price

1.9%

8.0%

KWD 0.750 -13.1% -3.9% KWD 0.265

6,989 (-0.4%)

Tadawul Index (% Chg.)

115

2.3% 8.6%

KWD -4.3% Close1.340 % Chg.

EMAEmaar Properties (UAE) Best Performers

Summary

2.7% 8.8%

KWD 0.124

KFI Kuwait Finance House (KUW)

Rebased Performance

3.2% 9.8%

8.0%

NINNational Investments Company

0.88 201 102Saudi Bank Basic Al Jazira 1.74 Industries Corp.

9.50

52,820

OMR 0.720

GCC Worst Performers

1.94 FAC CBK CommercialFacilities Bank of Co. Kuwait 1.37 Commercial 1.60 ABK Al Ahli Bank of Kuwait 0.88 238 Rabigh Petrochem.

9.67

15,024

1.00 1.77

10.14 6.87

55,462

1.84

0.70 1.52

127,821 69,783

QAR 21.60

BKMBankMuscat

10.29 9.99

66 122

14 718

8.14 10.24

KWD 1.060

QGTQatar Gas Transport Co.

PB1.43

8,071 2,137

1,351 12,627

65,024 264,263

AED 0.88 QAR 6.35

NBKNational Bank of Kuwait

PE 15.79

11 2,183

4 305

12,203

11.80

100,461

KWD 2.260 OMR 0.703

SIB Sharjah Islamic Bank KCB Al Khaliji Commercial Bank

Trailing

2,293 4,130

5,419 1,433

12,109

Mkt. Cap. 365,191 USD million

100

6,082 5,860 5,628

USD5.60 0.160 SAR

NMGalfar Wataniya GEC Engineering & Contracting

Trailing

Mkt. Cap. USD million

Turnover 1,352 USD million

1,301 316

14,635

-7.2%

Turnover USD million

1,754 787

-3.3%

6.3%

52 Wk Low

% Chg.

KWD 3.9% Close0.212 % Chg.

ITHKingdom Ithmaar Bank 3 428 Hldg. Co.

Period's Liquidity Ratio (PLR x)*

Index Level

4 ABABurgan Co. for Well Drilling

Period's Liquidity 1 Ratio (PLR x)

-1

MENA Indices Highlights

-4%

-6%

Saudi

27-May-12

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

-4%

Saudi Oman

95 27-Feb-12 85

-3%

Kuwait

Bahrain

Abu Dhabi

-2%

Abu Dhabi Abu Dhabi

100

Dubai Abu Dhabi Bahrain

100

-2%

Kuwait

Palestine Palestine

Return DailyDaily Return (%)(%)

Dubai

Dubai Dubai

105

Saudi Saudi

105

2% -1%

Qatar Qatar

111

4% 0%

Oman Oman

110

Kuwait Kuwait

113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Jordan Egypt

110115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

1.1%

68.00

2050.SSE Savola Group Co.

1.1%

35.80

4280.SSE Kingdom Holding Co.

0.6%

11.05

0.5%

105

Highest Turnover 100

100

27-Mar-12

27-Apr-12

S&P GCC Large/Mid Composite

Turnover (SAR) 449,641,026 1020.SSE Bank Al Jazira 426,332,408 4250.SSE Jabal Omar Development Co. 230,506,436 1080.SSE Arab National Bank

43Dar Al Arkan Real Estate Dev. Co. 20Saudi Basic Industries Corp.

98 95 27-Feb-12

Worst Performers

1 Alinma Bank

207,629,163

70Zain - Saudi Arabia

27-May-12

90,383,268

42Emaar the Economic City

4220.SSE Emaar the Economic City 1030.SSE Saudi Investment Bank

% Chg.

24.10

-3.2%

28.10

-1.8%

17.00

-1.2%

19.00 10.75

-2.3%

-1.4%

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

Close 72.50

Daily % Chg. 0.0%

High 73.00

Low 72.25

Turnover (SAR '000) 63,634

1 Alinma Bank

12.95

-0.8%

13.10

12.90

230,506

1 Arab National Bank

28.10

-1.8%

28.60

28.00

5,280

2 Almarai Co.

68.00

1.1%

68.00

67.00

14,380

52-Week

Volume ('000)

High

876

on high

YTD

82.75

67.25

-12.4%

71.75

48.41

-5.2%

18.8%

17,728

16.25

187

33.70

213

% Change

Low 9.05

26.60

-20.3%

-16.6%

4.3%

38.5%

26.80

11,268

418

32.90

17.20

-18.5%

35.0%

1 Banque Saudi Fransi

35.20

0.0%

35.20

34.80

4,681

133

40.00

30.00

-12.0%

4.5%

-1.4%

11.00

10.75

90,383

13.60

6.20

-21.0%

18.95

50,223

11.10 7.05

1 Bank Al Jazira

24.10

-3.2%

4 Dar Al Arkan Real Estate Dev. Co.

11.20

-0.9%

7 Etihad Etisalat Co.

65.75

-0.4%

4 Emaar the Economic City

4 Jabal Omar Development Co. 4 Jarir Marketing Co.

4 Kingdom Holding Co.

2 National Industrialization Co.

2 Rabigh Refining & Petrochemical Co. 1 Riyad Bank

1 Samba Financial Grp.

2 Saudi Arabian Fertilizer Co.

1 Saudi Arabian Mining Co.

2 Saudi Basic Industries Corp. 3 Saudi Cement Co.

5 Saudi Electricity Co.

10.75

19.00

152.25 11.05

32.70

21.20

23.30

46.70

176.25

2 Yanbu National Petrochemicals Co.

7 Zain - Saudi Arabia

-0.4%

0.0%

153.00 11.10

33.00

21.40

23.40

46.90

65.50

14,085

152.00

811

11.00

46.60

4,568

-0.7%

177.50

175.75

17,162

-0.8%

95.25

93.75

426,332

13.05

27,842

22.65

8,068

16.90

1,068

88.00

0.4%

27.60

27.10

1,158

-0.8%

20.00

19.85

9,021

16.05

49,821

35.40

8,047

33.80

4,580

0.0%

22.85

-0.4%

17.00

-1.2%

16.15

-0.3%

13.15

22.95 17.25

16.20

29.70

30,830

89.00

13.10

30.20

3,198

0.0%

40.20

40.10

17,211

100.75

0.0%

102.00

100.50

1,821

48.20

0.0%

48.50

48.20

6,826

40.20

35.80

34.40

46.70 9.05

0.6%

1.2%

-0.4%

1.1%

35.90

35.00

47.00 9.05

46.70 8.80

214

69.25

50.00

165.00

108.67

2,617 5

915

8,689

18,185

207,629

15.75

13.85

8,306

19,429

23.25

31.90

39,646

171

32.60

21.10

311

1,889

15,426

0.0%

2 1 Saudi Investment Bank 2 Saudi Kayan Petrochemical Co. 7 Saudi Telecom Co. 2 3 Yamama Saudi Cement Co.

-0.6%

-0.2%

19.45

449,641

88.50

19.85

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

0.5%

66.50

11.15

-0.3%

93.75

27.20

Saudi International Petrochemical Co.

-0.5%

11.50

24.10

30.00

1 Saudi Hollandi Bank

22 Saudi Industrial Investment Grp.

-2.3%

24.90

471

373 98

22.90

13.10

50.75

28.10

26.90

56.75

6.05

32.60

21.00 23.10

42.40

10.7

1.5

46.3%

45.3%

9,137,500

nmf

1.2

-17.0%

56.4%

26.3%

17,658,600

-15.6%

24.9%

25.6%

40,949,999

-8.8%

-24.3%

18,571,200

0.2%

-12.7%

-19.1% -5.1%

-7.7%

-17.7%

2,125

16.30

12.85

-19.6%

-18.8%

15.50

-24.2%

3,088

21.00

21.30

15.55

44,062,500

10.8

4.9

-2.6%

-12.6%

281,250,000

9.8

1.9

-5.8%

-4.0%

54,582,379

9.5%

17.75

18.55

-2.6%

-7.2%

24.45

-9.7%

20.3%

-19.0%

5.3%

0.8%

-8.3%

8.3%

37.7%

8.8%

-3.8%

-6.1%

-10.1%

-42.1%

-31.1%

-24.7%

23,250

11.50

5.25

-21.3%

63.1%

24.8%

56.25

41.60

-17.0%

7,278,333

20.7

12.4% 6.1%

39.9%

1.1

1.7

9.9

1.4

nmf

1.6

9,350,000

13.1

80,400,000

9.4

1.6

14.8

5.8

26,268,750

47.40

389

17.2%

-7.0%

10,282,500

-3.7%

83.25

27.82

1.5

11.5

141

37.00

10.0

34,400,000

70.00

1.6

10,795,680

22.6

2.8%

106.75

1.4

4.6

14.1

-5.6%

10.7%

2.3

14.3

17,900,000

18.9%

1.5

13,540,500

30.2%

134

45.1

24.7%

-5.6%

0.6%

27,750,000

9.7

24,225,000

33.00

23.70

42,030,000

nmf

-11.3%

42.60

35.60

18,227,911

nmf

-7.2%

429

225

1.9

1.2

22.9%

453

2.5

10.6

-9.7%

21.42

nmf

34,950,000

-21.6%

9,135,000

8.7

0.8

1.6

0.1%

39.5%

46,025,000

10.9

1.5

7.6

18.6%

29.30

25.8%

12,096,000

26.7

9.4

-20.0%

25.8%

7,230,000

16.9

0.0%

-14.6%

25.30

9.3%

-13.4%

87.75

354

25.2%

-19.7%

109.75

57.25

54.5%

-35.6%

-24.6%

4,511

98.00

3.8

1.4

31,821,429

-11.9%

10.7

1.2

-8.3%

-24.5%

39.2%

23,885,000

3.3

2.0

165.00 24.25

23.7

38.0

19.6

200.00 37.50

27,200,000

19,425,000

8,040,000

1,029

25.5%

27.6%

26.5%

27.10

14.1

42.2%

-0.7%

Trailing PE

108,750,000

-12.2%

26.80

Market Cap. (SAR '000)

-4.3%

2.2%

1 Bank AlBilad

7,644

12 mths

14,105,000 9,760,500

11.7

12,670,000

nmf

8.3

1.1

2.2

1.9

2.8

2.3

3.2

STOCKS WITH NBK CAPITAL

ALWATAN DAILY MONday, may 28, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,277 (-1.0%)

KSE General Index (% Chg.)

110

409 (-0.1%)

KSE Weighted Index (% Chg.)

48%

% of stocks trading above 1yr avg. price

0.56

Advance/Decline Ratio

Turnover (KWD) 6,633,617

TA Tamdeen Real Estate Co.

4,564,560

MMabanee Co.

1,360,868

1,956,545

K Kuwait Finance House 27-Apr-12

27-May-12

S&P GCC Large/Mid Composite

0.285

1.8%

2.7%

0.270

1.9%

Worst Performers

Zain Kuwait ZA

27-Mar-12

1.9%

Highest Turnover

100

95 27-Feb-12

1.060

National Bank of Kuwait

28,149,217

Market Cap. (KWD '000) 101

NBK.KSE

2.260

28,137

Turnover (KWD '000)

100

3.9%

NMTC.KSE Wataniya

444 / 396 OULAFUELOula Fuel Marketing Co.

KSE Weighted Index 52 week High / Low

% Chg.

0.212

6,492 / 5,694 FACIL.KSE Commercial Facilities Co.

KSE General Index 52 week High / Low

105

Close ABAR.KSE Burgan Co. for Well Drilling

552,342

N Wataniya

% Chg.

NINV.KSE National Investments Company

0.124

-4.6%

CBK.KSE

0.750

-3.9%

1.280

-3.0%

CGC.KSE

Combined Grp Contracting Co.

ABK.KSE

Al Ahli Bank of Kuwait

1.340

Commercial Bank of Kuwait

CABLE.KSEGulf Cable and Electrical Industries Co.

-4.3%

0.570

-3.4%

KSE Weighted Index

Quotes Company Name

Daily % Chg.

High

A Agility

0.400

-1.2%

T Al Themar Intl. Holding Co.

0.086

A AREF Energy Holding Co.

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

0.570

0.102

0.079

-15.7%

-5.5%

-17.3%

87,075

nmf

0.085

-6.1%

17.0%

10.7%

347

0.415

301

1.340

125

0.270

0.610

0.0%

0.420

1.340 0.270

1.2% 3.9%

-4.3%

-3.9%

1.9%

0.410

0.0%

-3.0%

IK Ikarus Petroleum Industries Co.

0.188

-1.1%

JAJazeera Airways

0.405

K Kuwait Cement Co.

15.8

212

1.280

K KIPCO Asset Management Co.

418,735

0.610

0.395

0.097

1.0%

0.250

0.415

0.610 0.420 0.212

1.360

0.790

0.600

224

0.194

0.275 -

0.400

1.300

0.190

373

0.630

0.530

0.514

0.410

0.0%

-18.3%

197

0.920

0.700

274

678

0.533

0.400

0.0%

0.495

0.285

-20.2%

408

0.162

0.096

0.315

0.226

0.188

0.530

0.0%

-48.9%

112

0.094

0.610

0.0%

0.198

1.280

0.098

0.280

0.132

718

0.560

0.355

0.410

0.650

0.415

0.750

1.727

1.182

0.355

0.255

0.116

0.019

1.600

1.240

0.214

0.146

0.485

0.182

0.600

0.415

0.0%

0.0% 3.4%

0.0%

-7.1%

0.0%

230,033

1.7%

1,066,424

-13.6%

648,886

-48.9%

-18.5%

-5.1%

-16.7%

0.0%

136.7%

182.9%

-23.9%

0.0%

-16.5% -20.6%

-30.8%

0.0%

3.8%

0.0%

-16.8%

0.0%

-11.0%

2.5%

-9.8%

0.0%

954,017

nmf

38.3

2.5

3.9%

179,283

nmf

0.0%

77,880

152,242

0.0%

268,712

0.0%

115.4% -2.0%

9.1

3.6

0.265

0.0%

0.265

347

0.335

0.236

-20.9%

3.9%

-20.9%

274,892

K Kuwait Projects Co. (Holding)

0.320

-1.5%

0.325

0.320

351

0.376

-14.9%

10.3%

-13.7%

0.0%

1187.9%

0.0%

M Mabanee Co.

M Mena Holding

N National Industries 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

0.660

0.281

0.0%

1,361

1,398

1.020

0.709

1.060

1.9%

1.060

1.040

106

102

1.109

0.909

-4.4%

-0.9%

0.222

193

869

0.275

0.192

-19.3%

0.128

0.056

-23.8%

0.212

276

0.102

0.280

-1.8%

0.124

-4.6%

0.128

S Salhia Real Estate Co.

112

1.240

0.970

N National Real Estate Co.

A Qurain Petrochemicals Industries Co.

146

0.980

0.222

O Oula Fuel Marketing Co.

130

-2.0%

N National Industries Grp. Holding N National Investments Company

0.890

0.970 0.425

N National Bank of Kuwait

0.910

0.285

-1.5%

0.285

0.270

0.130

0.128

0.425

0.325

174

1,387

0.250

0.128

0.355

0.242

0.265

0.168

0.285

0.270

0.255

-1.9%

0.260

0.255

0.228

0.0%

0.228

4,565

20,020

0.270

0.170

0.102

-1.9%

0.082

-2.4%

2.260

2.7%

0.170

0.710

0.0%

0.216

0.104 0.083

0.082

2.260

2.100

0.710

0.260

0.124

1.8%

0.212

0.425

0.700

1,293

0.226

178

552

261

6,634

9,343

0.0%

32.6

1.3

427,704

1.3

14.0

0.7

287,512

nmf

0.0%

25.5%

0.0%

19.2

1.2

0.7

0.6

0.0%

98,662

24.3

2.3

-21.1%

6.5%

1.7

nmf

-33.0%

0.0%

96,549

30.2

108,650

30.8%

0.0%

280,500

0.0%

30.8%

0.690

82,723

-12.9%

0.0%

1.9

23.2

-14.6%

-12.3%

1.880

11.0

2.0

-0.9%

2.480

530,643

15.2

-15.6%

-15.5%

1.7

4,614,707

0.216

0.170

18.2

27.6

-4.4%

4.1%

21.4%

0.067

0.8

3.9

22.6%

0.097

nmf

28.2

-3.8%

0.0%

0.7

592,853

0.200

0.0%

nmf

0.0%

0.093

1.060

0.0%

0.186

0.136

0.0%

3.7

98,010

264,627

-14.3%

1.6

0.9

K Kuwait International Bank

1.1%

7.4

65,825

-30.8%

8.3

16.8

2,149,081

0.910

nmf

141,000

-21.6%

P Kuwait Portland Cement Co.

1.8

1,079,566

-11.2% -10.8%

3.3

0.0%

-23.2% -18.5%

14.4

0.9

0.690 1.320

1.4

10.2

0.963

1.620

11.5

144,926

2,653 6

1.4

0.8

1,957 8

4.3

nmf

30.3

0.730 1.320

nmf

44,441

0.750 1.320

1.5

1.2

1.4% 0.0%

1.0

5.8

33.8

0.740

1.320

1.8

295,911

142,434

-23.9%

0.5

19.0

93,000

0.0%

862,546

K Kuwait Finance House F Kuwait Food Co.

9.6%

0.620

0.124

6.7%

0.0%

0.124

Trailing

Market Cap. (KWD '000)

12 mths

-7.0%

0.610

0.0%

YTD

0.248

185

C Gulf Cable and Electrical Industries Co.

IF International Finance Co.

on high

0.430

0.116

IF IFA Hotels & Resorts

0.570

% Change

Low

627

0.290

0.750

G Gulf Bank

0.590

251

High

0.295

C Commercial Bank of Kuwait G Global Investment House

0.395

52-Week

Volume ('000)

0.0%

0.212

F Commercial Facilities Co.

0.405

Turnover (KWD '000)

0.295

A Burgan Co. for Well Drilling

C Combined Grp Contracting Co.

-3.4%

Low

0.0%

233,200

130,744

0.0%

59,041

nmf

1,139,114

3,058,350

1.0

nmf

115,600

0.0%

1.1

18.2

19.7

150,455

0.6

12.9

85,071

22.4%

-30.4%

nmf

1.5

0.9

16.0

0.6

9.1

10.8

1.4

10.7

1.6

UAE Rebased Performance

Summary

Best Performers 1,480 (0.1%)

DFM Index (% Chg.)

110

2,460 (-0.2%)

ADSM Index (% Chg.)

Advance/Decline Ratio

DFM Index 52 week High / Low

Highest Turnover

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

27-Apr-12

E Etisalat

Abu Dhabi SE

7,494,115

S Sorouh Real Estate Co.

27-May-12

1.1%

0.7%

Worst Performers

A ALDAR Properties

85 27-Feb-12

1.1%

1.7%

2.90

Turnover (AED) 14,780,387 SOROUH.A Sorouh Real Estate Co. 12,468,456 AIRARABIA Air Arabia 8,148,715 ALDAR.AD ALDAR Properties

E Emaar Properties

1.80

381,268,562

Market Cap. (AED '000)

2.3%

1.93

91,326

Turnover (AED '000)

100

% Chg.

0.88

1.20

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

ADSM Index 52 week High / Low

100

Sharjah Islamic Bank

36% TAQA.ADS Abu Dhabi National Energy Co. 0.38 ARMX.DFM Aramex 1,754 / 1,301 DIB.DFM Dubai Islamic Bank

% of stocks trading above 1yr avg. price 105

Close SIB.ADSM

4,897,038

TATamweel

% Chg.

1.01

-1.9%

1.06

-0.9%

0.59

TAMWEEL Tamweel

1.16

UNB.ADSM Union National Bank

2.87

-1.3%

-0.9%

-0.7%

Dubai FM

Quotes Company Name

Daily % Chg.

High

Low

Turnover (AED '000)

A Abu Dhabi Commercial Bank

3.06

-0.3%

3.07

3.05

1,592

T Abu Dhabi National Energy Co.

1.20

1.7%

1.20

1.16

A Air Arabia

0.59

-1.3%

0.60

0.59

1.02

A Abu Dhabi Islamic Bank

A Abu Dhabi National Hotels A ALDAR Properties A Amlak Finance

A Arabtec Holding A Aramex

A Arkan Building Materials Co. C Commercial Bank of Dubai D Dana Gas

D Deyaar Development Co. D du

3.14

2.00

1.06

-0.3% -

-0.9%

2.87

-0.7%

0.78

0.0%

1.80

2.85

0.40

0.30

3.01

1.1% -

0.0%

-0.3%

-0.7%

3.15 -

3.11 -

0.41

0.31

3.04

0.39

0.30

3.00

0.98

0.96

D Dubai Islamic Bank

1.93

1.1%

1.93

1.90

E Emirates NBD

2.74

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.

8.81 8.77

-0.1% -

67.00

1.21

8.70

-0.1%

1.71

4.95 0.88

8.71 -

1,921 244 644

8.70 -

U United Arab Bank

3.56

7.2

0.8

-9.1%

-28.1%

2,000,000

7,713

1.45

0.76

-26.9%

15.2%

-21.5%

4,330,237

-17.0%

89.6%

137.2%

-46.2%

-22.8%

-42.2%

-38.5%

-11.1%

-36.5%

1,464 467

112

3.46 1.96

1.45

1.18

1.69

0.71

-21.9% 0.0%

-8.2%

3.24

2.67

-12.0%

805

0.46

0.20

-33.6%

4,746

213

0.65

3.63

0.34

2.80

-17.1%

-40.8%

5,098 -

1,416 -

218 -

905

7,494

2.87

431 -

7,425,176

-28.6%

0.57

2.65

3.0%

1.98

4.63

-0.6%

2.80

-14.6%

1.00

7,470,000

1.88

0.37

4.3%

2.26

0.36

2.89

0.0%

1,106

4,897

0.0%

-11.8%

2,120

1.16

1.03

0.7

-11.5%

0.76

1,033 7,416 4,195 150

234 -

3.30

11.20 10.75

1.44

2.41 8.57 6.98

0.67

102.00

67.00

4.95

3.37

1.02

0.80

9.00

2.24

1.45 1.49

7.38

0.0%

3.2%

41.8% 4.2%

15.4% -0.5%

-16.4% 0.0%

0.0%

nmf

1,744,956

nmf

0.5

-4.7%

13,760,000

11.2

2.3

-19.3% -6.3%

8.8%

50.0%

1,365,000

2,640,801

7,752,000 7,328,314

69,653,093 26,310,000

11.9 7.0

1.8 1.0

-8.3%

15,228,303

993,527 -

7.3%

33,708,658

-0.7%

-16.1%

7,162,444

-2.2%

-20.9%

3,547,189

4.05

3.28

-12.1%

43.0%

-10.7%

0.8

0.9

1.2

8.1

0.9

8.1

2,651,250

0.4

8.8

2,134,440

-21.1%

25.0%

nmf

13.8 18.5

18.8%

-5.4%

8.7

5,445,000

-30.3%

-25.5%

0.8

-14.0% 0.5%

-27.9%

0.67

-26.4%

4.6

1.0

0.6

2,736,000

0.24

nmf

0.3

8.9

-10.0%

2.82

4.3

0.8

17,664,592

-5.5%

92.4%

nmf

-5.2%

-23.7%

-22.1%

1.5

0.0%

4.8%

1.1

0.9

-10.3%

-13.7%

14.4

7.2

-34.0%

7.3%

0.6

1,530,000

0.5

5,809,303

-34.3% -3.3%

4.6

-0.2%

-3.5% 13.5%

70.4%

0.2

10.0

1.4

-21.3% -18.4%

-16.0%

8.5

2,753,353

4,505,183

1.1

11.8

12.8% -6.8%

6.4

2,635,380

-12.1%

3.90

0.50

0.7%

1.63

0.53

PB 5.3

-26.0%

12,468 -

17,122,528

0.68

8.77 -

2.92

Trailing

Market Cap. (AED '000)

12.5%

1.31

14,780

3.55

12 mths

10.1%

1,328

2.88 -

YTD

-7.8%

1,288

1.17

-0.7%

* Closing Prices, Turnover and Market Cap. in USD

8.84 -

834

-0.9%

2.87

0.37

2.92

0.87

U Union National Bank U Union Properties

4,243

0.88

-1.9%

1.16

2,520

2.3%

1.01

T Tamweel

1.14

0.77

-0.2%

0.7%

1.36

0.79

1.75

0.97

2.90

302

4,229

D Dubai Financial Market

E Emaar Properties

362

2.87

1.80

on high

2.69

2.91

% Change

Low

3.32

8,149

52-Week High

520

1.04

1.07

Volume ('000)

7.5

1,160,000

12.5

1,242,370

nmf

2.7 0.5 0.4

0.5

4.7

0.7

10.3

1.8

0.5

STOCKS WITH NBK CAPITAL

ALWATAN DAILY MONday, may 28, 2012

QATAR Rebased Performance

Summary

Best Performers 8,490 (0.3%)

DSM Index (% Chg.)

110

Advance/Decline Ratio

Turnover (QAR '000)

465,420,934

Market Cap. (QAR '000)

CBQK.DSMThe Commercial Bank of Qatar

Highest Turnover

100

Turnover (QAR) 46,250,569 ERES.DSMEzdan Real Estate Co. 24,410,821 QEWS.DSMQatar Electricity & Water Co. 24,104,191 VFQS.DSM Vodafone Qatar

B Barwa Real Estate Co.

95 27-Feb-12

27-Mar-12

27-Apr-12

Q Qatar National Bank MMasraf Al Rayan

S&P GCC Large/Mid Composite

15,562,769

V Vodafone Qatar

27-May-12

1.7%

115.00

0.9%

50.00

0.8%

71.50

0.7%

64.50

0.8%

Worst Performers

100

% Chg.

27.70

8,892 / 8,071 QIIK.DSM Qatar International Islamic Bank 239,583 QNNS.DSMQatar Navigation

DSM 52 week High / Low

105

44% BRES.DSMBarwa Real Estate Co. 2.20 QTEL.DSM Qatar Telecom

% of stocks trading above 1yr avg. price

10,375,450

Q Qatar Gas Transport Co.

% Chg.

19.78

-2.6%

138.60

KCBK.DSMAl Khalij Commercial Bank

-0.7%

9.67

-0.5%

138.00

-0.1%

17.25

IQCD.DSM Industries Qatar

-0.3%

Doha SM

Quotes Company Name A Aamal Co.

Close 16.34

Daily % Chg.

High

0.3%

Low

16.52

16.20

2,033

27.30

46,251

57.40

5,583 7,869

17.25

-0.3%

C The Commercial Bank of Qatar

71.50

0.7%

71.70

70.80

3,153

E Ezdan Real Estate Co.

19.78

-2.6%

20.15

19.65

1,418

26.90

24,104

15.74

10,375

77.00

3,220

D Doha Bank

27.70 57.60

1.7% 0.7%

17.11

27.90 58.00

IQIndustries Qatar

138.00

-0.1%

138.60

136.30

Q Qatar Electricity & Water Co.

138.60

-0.7%

138.60

50.00

0.8%

50.50

49.95

M Masraf Al Rayan

Q Qatar Gas Transport Co.

Q Qatar International Islamic Bank Q Qatar Islamic Bank

27.00 15.77 77.60

Q Qatar National Bank

134.50

Q Qatar Telecom

115.00

Q Qatar Navigation V Vodafone Qatar

0.4%

0.1% 0.3%

27.05

15.82 78.00

0.5%

134.80

133.30

0.9%

115.10

114.10

64.50

0.8%

9.67

-0.5%

64.60 9.74

9.50

High

on high

21.90

14.00

-25.4%

1,674

31.10

26.25

-10.9%

67.00

50.00

-14.0%

104

18.00

694

68.00

24.97

0.9

-10.1%

11.6%

11,905,793

9.4

1.8

-11.7%

76.30

-9.0%

-7.9%

141.73

122.73

123.30

94.31

9.72

7.9

-9.9%

183

1,611

10,778,752

-13.9%

45.50

6,191

-6.3%

15.70

56.20

84.00

-7.5%

-3.8%

16.6%

1.5

0.5%

-3.1%

22.50

85.30

18.4

-3.9%

129.50

-6.4%

-11.0% -5.1%

3.8%

-0.7%

-7.4%

-2.7%

12.7

17,692,416

1.2

9.3

1.3

52,466,385

nmf

20,250,000

14.1

8,734,120

10.6

4.5

-2.1%

18,336,352

12.8

1.7

7,386,875

10.2

0.7

8,175,018

nmf

1.2

-2.2%

75,900,000

-4.4%

13,860,000

6.6%

7,568,437

7.4%

-23.2%

-15.7%

-23.6%

7.24

-0.5%

28.1%

22.4%

21.9%

6,210,000

-1.5%

64.00

-6.7%

8,897,130

-15.1%

148.00

Trailing PE

-24.8%

-10.9%

-5.6%

Market Cap. (QAR '000)

13.0%

-20.8%

18.32

12 mths

-14.9%

18.60

28.10

-4.2%

YTD

-16.4%

118.80

24,411

85.50

146.20

658

968

16.06

893

15,563

% Change

Low

124

166

63.90

52-Week

Volume ('000)

1,786

K Al Khalij Commercial Bank B Barwa Real Estate Co.

17.30

Turnover (QAR '000)

94,113,609

8.7%

36,836,800

1.9

9.8

3.2

10.2

4.6

2.4

11.3

1.7

12.1

2.3

14.6

1.7

OMAN Rebased Performance

Summary

Best Performers 5,682 (-0.5%)

MSM Index (% Chg.)

110

47% NBOB.MSMNational Bank of Oman

% of stocks trading above 1yr avg. price

0.50

Advance/Decline Ratio

OTEL.MSMOman Telecommunications Co.

6,082 / 5,419 BKMB.MSMBank Muscat 1,600 RCCI.MSM Raysut Cement Co.

MSM 52 week High / Low Turnover (OMR '000)

105

6,856,270

Market Cap (OMR '000)

27-Mar-12

27-Apr-12

R Renaissance Services

105,429

S&P GCC Large/Mid Composite

94,821

B Bank Muscat

27-May-12

0.4%

1.31

0.1%

0.59

0.0%

-0.2%

0.67

Turnover (OMR) 119,420 BKDB.MSMBank Dhofar 110,335 RNSS.MSMRenaissance Services

O Oman Cement Co.

O Oman Telecommunications Co.

95 27-Feb-12

0.29

-0.7%

Worst Performers

100 99

% Chg.

1.23

OCOI.MSM Oman Cement Co.

Highest Turnover

100

15,412

R Raysut Cement Co.

% Chg.

0.45

-1.1%

0.51

OCOI.MSM Oman Cement Co.

-1.0%

0.67

RCCI.MSM Raysut Cement Co.

-0.7%

1.23

BKMB.MSMBank Muscat

-0.2%

0.59

0.0%

Muscat SM

Quotes Company Name

Daily % Chg.

High

B Bank Dhofar

0.445

-1.1%

N National Bank of Oman

0.290

0.4%

O Oman Telecommunications Co.

1.305

R Renaissance Services

0.510

B Bank Muscat

0.585

O Oman Cement Co.

R Raysut Cement Co.

0.0%

0.669

-0.7%

1.233

-0.2%

Low

0.445

Turnover (OMR '000) 3

0.445

0.586 0.290

0.583

0.674

0.667

119

1.221

0.1%

1.305

1.304

105

-1.0%

0.516

0.509

110

1.235

High 6

0.565

0.324

179

on high

0.423

0.671

% Change

Low

0.522

162

0.290

52-Week

Volume ('000)

0.286

0.693

0.416

-14.8%

-4.6%

54.9%

-1.4%

62.2%

1.041

-8.4%

216

0.894

0.458

-43.0%

0.711

-7.1%

-3.5%

1.425

1.250

-14.8%

-12.2%

-10.5%

12 mths

-2.2%

-12.8%

YTD

Market Cap. (OMR '000)

-3.8%

12.2

321,327

8.9

16.0

246,600

14.7

22.5%

978,750

-6.4%

-42.4%

143,868

2.1

8.5

221,354

-0.3%

17.8%

489,552

1,051,124

22.1%

Trailing

1.2 1.2

1.5

8.5

2.2

nmf

0.9

2.5

BAHRAIN Rebased Performance

Summary

Best Performers 1,143 (-0.2%)

BSE Index (% Chg.)

110

Advance/Decline Ratio

1,351 / 1,129 BBK.BSE BBK 102 BATELCO.BBahrain Telecommunications Co.

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

105

6,470,418

Market Cap. (BHD '000)

100

Turnover (BHD) 13,968 BATELCO.BBahrain Telecommunications Co. 4,790 BBK.BSE BBK

B BBK

3,304

B Bahrain Telecommunications Co.

27-Mar-12 27-Apr-12 S&P GCC Large/Mid Composite

209

B Albaraka Banking Grp.

27-May-12 Bahrain SE

#N/A

% Chg.

0.16

3.2%

0.39

-0.5%

0.95

0.0%

0.47

-0.8%

#N/A

Worst Performers

IT Ithmaar Bank 95 27-Feb-12

#N/A

Highest Turnover

100

47% ITHMR.BSE Ithmaar Bank 0.50 BARKA.BS Albaraka Banking Grp.

% of stocks trading above 1 yr avg. price

A Ahli United Bank

% Chg.

0.47

-0.8%

BARKA.BS Albaraka Banking Grp.

0.95

0.0%

AUB.BSE

0.60 -

ITHMR.BSE Ithmaar Bank

0.39

0.16

Ahli United Bank

-0.5%

3.2%

Quotes Company Name

A Ahli United Bank*

0.600

A Arab Banking Corp.*

0.460

B Albaraka Banking Grp.* B Bahrain Islamic Bank

B Bahrain Telecommunications Co. B BBK

IN Investcorp Bank*

IT Ithmaar Bank*

N National Bank of Bahrain U United Gulf Bank

* Closing Prices, Turnover and Market Cap. in USD

Daily % Chg.

High -

0.950

0.0%

0.090

0.472

-0.8%

797

0.388

-0.5%

0.160

3.2%

0.234

0.560

Low -

0.950

Turnover (BHD '000)

0.472

0.388

0.160

52-Week

Volume ('000) 1

14 13

High 1

% Change

Low

on high

YTD

12 mths

Market Cap. (BHD '000)

0.676

0.599

-11.2%

-0.5%

-9.4%

3,140,967

0.530

0.420

-13.2%

9.5%

-19.3%

1,430,980

0.380

-2.9%

20.4%

6.3%

679,680

0.0%

-30.0%

637,729

-2.6%

-5.1%

479,002

1.020

0.106

0.486

0.857 0.082

-15.1%

0.0%

0.420

0.240

0.065

-33.3%

146.2%

0.424

0.234

-44.8%

-22.0%

0.600

797

0.545

-7.6%

1.7%

797

0.388

-6.9%

-6.7%

-6.3%

-6.9%

-21.1% -7.6%

88.2%

-31.2%

964,007

Trailing PE

PB 9.9

1.2

6.8

0.4

8.0

84,571

nmf

330,326

10.3

428,556

195,287

0.8 0.8

8.6

1.3

4.5

0.6

10.4

1.8

nmf

1.4 0.7

0.9

LIFE

An energizing start to your day

Your breakfast choices help determine your energy level for the rest of your morning. When breakfast consists mostly of sugary foods, you experience a quick rise in your blood sugar, causing a surge in energy. But after about an hour, your blood sugar and energy both decline and you’re hungry again, long before lunch.Your breakfast can do more for you. These easy breakfast options are packed with nutrients from three or more food groups: • Peanut butter or hummus on whole-wheat toast and low-fat milk. • Instant oatmeal topped with dried cranberries and grated cheese. • Granola topped with canned peaches and yogurt. A balanced breakfast of carbohydrates, protein and fat causes a more gradual release of energy over the entire morning, maintains your blood sugar levels and delays hunger until it’s time for lunch.

monDAY, may 28, 2012

Kuwait marks Multiple Sclerosis Day Cases of Multiple Sclerosis rises to 80 people per 100,000 in Kuwait: Expert Michael A. Kolarov

KUWAIT: Under the patronage of the Ministry of Health with the support of industry partner Novartis, local experts held a lecture on Saturday at the Olympia mall to educate the public on the issue of Multiple Sclerosis (MS). Experts in the field took to the podium to outline the symptoms of MS and the challenges faced by individuals living with MS. According to medical literature, MS is a nervous system disease with no known cause that affects the brain and spinal cord, leading to symptoms such as visual disturbances, muscle weakness, trouble with coordination and balance, sensations such as numbness, prickling or “pins and needles” in addition to thinking and memory problems. The International MS Federation website reports that globally MS affects woman more than men and often begins between the ages

(Photo by Michael A. Kolarov)

Staff Writer

Members of the public and Multiple Sclerosis (MS) patients listen to educational lectures from experts in the field of MS.

of 20 and 40. The disease can be mild but some people lose the ability to write, speak or walk. There is no cure for MS but medicines can slow disease progression and help control

Astronomers seize last chance in lifetime for Venus Transit

PARIS: Astronomers are gearing for one the rarest events in the Solar System: an alignment of Earth, Venus and the Sun that will not be seen for another 105 years. The celestial ballet known as the Transit of Venus is one of the most eagerly-awaited events in skywatching, an episode that has advanced the frontiers of knowledge, sometimes with dramatic consequences. “For centuries, the Transit of Venus has been one of the great moments for astronomers,” said Claude Catala, head of the Paris Observatory. “2012 will not be an exception to the rule. It is a one-off opportunity.” “It’s now or never,” the British magazine Physics World told its readers. “It will be an event well worth watching, as the next Transit of Venus will not occur until December 2117, when most of us will be long gone.” In a transit, Venus passes between Earth and the Sun, appearing through the telescope as a tiny black spot that, for some six and a half hours, crawls in a line over the fiery face of the Sun. On the evening of June 5, North America, Central America and the northern part of South America will get to see the start of the transit – clear skies permitting – until those regions go into sunset. All of the transit will be visible in East Asia and the Western Pacific. Europe, the Middle East and South Asia will get to see the end stages of the eclipse as they go into sunrise on June 6. But West and Southwest Africa, and most of South America, will not get a view, although people there can catch the event on a webcast. Only six Transits of Venus have ever been recorded – quite simply because before the phenomenon was predicted by the 17th-century German mathematician Johannes Kepler, no-one knew where to look or had the lenses to do so. Transits occur in truly weird combinations, either in a June or a December. When one happens, another one happens in the same month eight years later. Then there is a wait. A very long wait. A pair of December transits follows a June pair after 105 years, while a June pair comes 121 and a half years after a December pair. For example, there was a transit in December 1882; the next one was in June 2004, which will be followed this year on June 5-6, depending on the dateline; astronomers will then have to be patient until December 2117, which will be followed by another transit in December 2125. In the 18th century, scientists realized that by timing the event from different locations, the transits of 1761 and 1769 could be triangulated and give the distance between Earth and the Sun -- “the noblest problem in astronomy,” for it would at last place mankind in the cosmos. Britain and France, the two superpowers at the time, jockeyed for the glory, dispatching missions to far-flung places. Among them were British surveyors Charles Mason and Jeremiah Dixon, who were attacked by French warships just after they left Plymouth and headed back to port. Discouraged, they wanted to cancel the trip -- but ventured back out to sea after a receiving a now-legendary letter from the Royal Society, the British scientific academy which was sponsoring them. To give up would “bring an indelible Scandal upon their Character, and probably end in their utter Ruin,” the letter said stonily. Drama was also in store for the 1769 transit, when Britain sent James Cook to Tahiti to view the event from there. After his mission, Cook opened the instructions for the secret – and most important – part of his expedition: to search for and map for the Crown a mysterious “southern continent,” which turned out to be New Zealand and eastern Australia. For astronomers today, the Transit of Venus offers a chance to gain insights into the planet’s notoriously thick, cloudy atmosphere, and use the refraction of sunlight to finetune techniques for hunting planets orbiting distant stars. -AFP

symptoms. Research figures show MS affects around 25 to 50 people in every 100,000 in Arab populations and about 100 per 100,000 in North-

ern Europeans who display the highest risk of MS across the world, with the prevalence seeming to increase further from the equator according to a press release issued by Novar-

tis. Dr. Raed Al-Roughani, Senior Neurology Specialist at Al-Amiri Hospital estimates that in Kuwait, 80 people per 100,000 suffer from MS. Members of the public took the opportunity on world MS day at the Olympia Mall to experience a simulation of what it would be like to live with MS. Al-Roughani explains; “This exercise is designed to give the public a shared understanding of the effects of MS, even if only for a short time, in order to create a better environment for those that suffer from the disease,” in the simulation people wore specially designed weighted sandbags and walked through an obstacle course with controlled lighting. This allows people to gather an idea of the muscle weakness and visual impairment caused by MS. Al-Roughani and fellow neurologists have been advocating increased awareness for the neurological disorder in the country, recently conducting a series of educational talks with the Kuwait MS Association and the Woman’s Cultural and Social Society. According to Al-Roughani “There are as many as 1,400 MS patients in Kuwait and there are many that are not aware of all the options available to them, but we are not only targeting those with the disease, but also the public in order to shed light on the disorder and how the public can contribute to increasing the quality of life for those who suffer from MS.”

Harnessing plant-invading fungi for fuel NEW YORK: As gas prices rise around the world, researchers are seeking a potential solution from endophytic fungi - fungi that live inside plants according to LiveSciece. While conducting a study on endophytes and their unique products, Gary Strobel of Montana State University and his fellow researchers made a discovery that could very well change our future fuel sourcing. In a recent study, published in the journal Microbial Ecology, Strobel and his team looked closely at an endophyte known as Hypoxylon, identifying the volatile organic compounds that it produces as well as its antimicrobial activity and genetic makeup. Hypoxylon and similar fungi are common in tropical and semitropical plants and the volatile organic compounds they produce may be useable as fuels or fuel additives. Living inside plants

Endophytes are able to live in plant tissues without causing any apparent harm. In some cases, the endophyte may even provide some sort of benefit, such as protection from harmful bacteria or pathogenic fungi. Scientists have found that endophytes produce bioactive products that are potentially beneficial for medicine, industry and energy uses. Strobel and his collaborators excised a Hypoxylon

sample from the limb of an evergreen native to the Canary Islands, called Persea indica, and cultured it in a lab to reproduce the fungus and run tests to confirm its identity. Using a scanning electron microscope, light microscopy and molecular tests, they were able to confirm its identity. The scientists tested the compounds made by the fungi for their inhibitory capabilities to determine if Hypoxylon uses the compounds to protect its host from pathogens. The researchers exposed 10 different fungal pathogens to Hypoxylon cultures that were three, four, five, six and seven days old. Results indicated that not only do the volatile organic compounds provide antimicrobial protection, but there is also a specific age at which they are most effective. In this study, the six-day-old culture exhibited maximum inhibition of 8 of the 10 pathogens. The inhibitory capabilities of the volatile organic compounds support the idea that the fungus has been able to maintain this particular niche because of the protection it provides. Strange compounds

The range of volatile organic compounds Hypoxylon produces is also significant. One important compound known as 1,8-cineole has a special structure that means it could be used as fuel. This compound and the majority

Personality, good genes may be key to living to 100 NEW YORK: The more outgoing and optimistic you are, the longer you may live, a new study suggests according to LiveScience. Researchers have found that personality traits like being outgoing, optimistic, easygoing, and enjoying laughter as well as staying engaged in activities may be an important part of the longevity genes mix. “When I started working with centenarians, I thought we’d find that they survived so long in part because they were mean and ornery,” study researcher Nir Barzilai, of the Albert Einstein College of Medicine, said in a statement. “But when we assessed the personalities of these 243 centenarians, we found qualities that clearly reflect a positive attitude towards life.” The study is a part of the Albert Einstein College of Medicine’s Longevity Genes Project, which includes more than 500 Ashkenazi Jews ages 95 and older, and 700 of their kids. This small subset of Eastern European Jews is genetically very similar to each other. In addition, some members of the population are extremely long-lived, so it’s easy to compare their genes to the genetics of members of the population who don’t fall into that category. By analyzing the genes of these people, researchers are discovering why some of them live so long, and others don’t. Previous studies of this population have found other genetic reasons for their longevity, including genes related to cellular repair mechanisms. Another study found that these centenarians don’t necessarily behave

any better than the general population when it comes to health habits: They smoke, drink and eat just as badly as the rest of us. So why look at personality? A person’s level of shyness or how open they are to new experiences, say, arise from underlying genetic mechanisms, which may also affect health, the researchers said. So Barzilai and colleagues developed a brief measure of personality, which they gave to 243 of the centenarians in the study (average age 97.6 years, 75 percent women). “Most were outgoing, optimistic and easygoing,” Barzilai said of the centenarians. “They considered laughter an important part of life and had a large social network. They expressed emotions openly rather than bottling them up.” In addition, the centenarians had lower scores for displaying neurotic personality and higher scores for being conscientious compared with a representative sample of the US population. “Some evidence indicates that personality can change between the ages of 70 and 100, so we don’t know whether our centenarians have maintained their personality traits across their entire life spans,” Barzilai said. “Nevertheless, our findings suggest that centenarians share particular personality traits and that genetically based aspects of personality may play an important role in achieving both good health and exceptional longevity.”

Exercise can be as helpful as medication in older adults CONNECTICUT: People tend to exercise less as they grow older, but keeping physically active is essential for remaining healthy and independent, an expert says. “Exercise is important for almost everyone. There are very few medical conditions that exercise won’t benefit. In fact, I sometimes write a prescription to get my patients to start taking this seriously and help them understand exercise can be just as helpful as medication,” Dr. KeithVeselik, director of primary care at Loyola University Health System, said in a Loyola news release. Aging can present challenges to exercise, so Veselik offers suggestions on how to deal with certain issues. Muscle and joint aches and pains start becoming more noticeable in your 50s, so you may need to try cardiovascular exercises that boost your heart rate but are easy on the joints. For example, try swimming or cycling instead of running. If you do run, invest in good shoes that cushion the impact. Cardiovascular exercise helps prevent medical problems such as heart disease, asthma and chronic obstructive pulmonary disease. But if you’ve been inactive, you need to talk to your doctor, ask about risk factors and create a cardiovascular

exercise plan that’s right for you. Back pain is another common problem among people in their 50s. “The best way to protect your back is to build strong core muscles and make sure you are lifting heavy objects correctly,” Veselik advised. Balance and leg-strengthening exercises should be emphasized as people enter their 60s, to increase flexibility and help prevent accidental falls. Weight-bearing exercises are critical to keep bones healthy and prevent osteoporosis. Many adults in their 60s have symptoms of arthritis, which can make exercise difficult. “Exercise has been proven to help people deal with their arthritis. It’s just making sure your exercise routine is working for you, not against you. Some people forget that walking is a great form of exercise -- just make sure you get your heart rate up. Also, aquatic classes or swimming are a great way for people with arthritis or fibromyalgia to exercise,” Veselik said in the news release. “The biggest worry I hear from my patients who are entering their 70s, 80s and beyond is dementia. The two most common forms are Alzheimer’s and vascular dementia,” he said.

of the compounds produced by Hypoxylon are classified as monoterpenes or their derivatives. “Monoterpenes are excellent fuels,” Strobel said. “In fact ethanol is a terrible fuel for America since it can cause engine problems, is not energy dense, and is made by yeast fermentation. Yeasts only utilize sugars and starch, and the sources of these are also human and animal feeds. Endophytes such as Hypoxylon can utilize agricultural, forestry and urban wastes, grow nicely, and at the same time make monoterpenes, such as cineole.” Special enzymes

The specialized enzymes that Hypoxylon uses to produce 1,8-cineole enable complex chemical processes that are difficult to reproduce in the laboratory, and therefore difficult to adapt for mass production of monoterpenes for fuel. Studying this process could lead to better ways to engineer the fungus for greater hydrocarbon yields. “Biological pathways leading to production of monoterpenes can be manipulated on a mass commercial scale either by standard microbiological methods involving mutation genetics, or by the use of bioengineering,” Strobel said. The Department of Energy has approved a project to research methods of manipulating the biological pathways leading to the production of monoterpenes.

Africa’s first night sky ‘reserve’ is stargazing haven

FILE - The Milky Way, photographed from NamibRand reserve in this undated handout photo. (Agencies)

WASHINGTON: The NamibRand Nature Reserve, a private nature reserve in southern Namibia, has gotten the stamp of approval to become an official night sky reserve a spot supremely suited for some of the best stargazing on Earth according to SPACE. The sprawling park, which covers more than 600 square miles (1,500 square kilometers) of the southern African country, is home to some of the darkest skies yet measured, according to a statement from the International Dark-Sky Association, an organization that certifies “starlight reserves” around the world. Park staff have made an effort to modify any lighting on the grounds to preserve the natural darkness for the sake of the region’s wildlife and human visitors - and to enhance the views of the glittering night sky overhead. “Viewing the pristine night sky over the NamibRand is an unforgettable experience,” George Tucker, a retired physics professor who first identified the area as a candidate for reserve status, said in a statement. The closest communities lie at least 60 miles (97 km) away from the nature reserve, creating a vast pool of darkness that allows the splendor of the Milky Way to blaze overhead without interference from light pollution. And a local organization, the Namib Desert Environmental Education Trust (NaDEET), is teaching visitors to the park about astronomy and the importance of preserving dark skies. Overnight guests, including local school children, can sleep out under the stars at an education center in the park. “Prior to the NaDEET astronomy activity, even the most basic knowledge about the night sky and the threats posed by light pollution were completely unknown to most Namibian children,” said Viktoria Keding, NaDEET’s director. “This recognition therefore makes our participants aware of just how unique it is to have a dark night sky,” she said in a statement.

ALWATAN DAILY

CULTURE

monDAY, may 28, 2012

Ahmadi Music Group stages Semele, an opera by Handel

Handout photos of the cast of the opera Semele at the Al-Maidan Cultural Center. Onilda Fernandes Staff Writer

KUWAIT: The sizzling energy of a terrific cast freshened the 1743 opera production of “Semele” by George Frideric Handel, at the Al-Maidan Cultural Center in Maidan Hawally from May 24 to 26. Matthew Long (tenor) and Nicola Beckley (mezzo soprano) were both chartered from Europe to accompany two other soloists based in Kuwait and join a chorus of about 55 and an orchestra composing 20 members belonging to the Ahmadi Music Group (AMG) headed by Richard Bushman. Stated Bushman, the Director of Semele and AMG to Al Watan Daily, “All the performances we have held over the years always had to depend on who is coincidentally here. Then last year, three of our best singers left, so we decided to get two from abroad and suddenly there was all kinds of music that we could do.” Based on the classical myth of Semele, mother of Dionysus, Handel had fashioned “Semele” for presentation ‘in the manner of an oratorio’-a wolf in sheep’s clothing, to enable him to get paid. His ploy did not delight organizers, resulting in few performances and it created a spurious and long lasting identity for Semele as a concert piece. “As you can see, this piece had been quite scandalous in its day,” explained Bushman, “But being so well known, it was something we have wanted to do for a year now. It certainly is the oldest opera we have staged so far. And we have done it to the best of our ability. The technology we have incorporated takes you back hundreds of years, the singers are good with big voices and our sponsors’ humdulillah have helped make this possible.” Choosing a smaller theatre to perform in this time, Bushman realizes that this kind of music is not very popular. “Its music for people who really know and not the casual listeners. But we like to do something like this

every once in a while, so that people can listen to this and maybe get to like it. Besides, even for the artistes, it’s not something they can just do; they have to be completely real. Each one of these people in the orchestra has spent at least 20 years in music so they are good enough to play this piece, likewise with the singers.” Matthew Long

A professional singer in England, Matthew Long started singing opera from the time he was a little boy, at the mere age of 10 years. “Both my parents are professional singers so I really had no choice,” shared Long with Al Watan Daily, “When I turned 13, I decided I didn’t want to do this anymore, as most of us generally think at that age. But when I became 18 years old, I decided otherwise and began to

train professionally.” Studying music at the University of York and the Royal College of Music later on, Long finds professional classical music very hard work. “There are fewer jobs everyday but then you don’t choose this line; it chooses you, and I simply love music. I am always trying to get better and improve. What Bushman is doing here is really admirable also. In the UK, opera is an everyday thing but here there are many who have never heard a live opera before. So even though there maybe certain things not as good as what we are used to, or not the same standards back home, it still is a great experience being here and I believe everyone has to start somewhere.” Nicola Beckley

Nicola Beckley was a trained Mathemat-

Palestinian Airlines resumes flights after 7 years MARKA AIRBASE, Jordan: Palestinian Airlines is back in the skies after being grounded for seven years by the deepening enmities of the Israeli-Palestinian conflict. Once hailed as a symbol of Palestinian statehood dreams, the carrier is a tiny operation, with just two 48-seat turboprop planes, two weekly flights and a borrowed hub in Egypt. But Palestinians say just being on the map again is what matters. “My hands were shaking when I bought the ticket ... and it said the name of the carrier is Palestinian Airlines,” said recent passenger Zuhair Mohammed, a 38-year-old teacher from Gaza. The 15-year-old airline’s fortunes have been closely tied to the quest for a Palestinian state. In the late 1990s, when Palestinians appeared on the verge of a statehood deal with Israel, Palestinian Airlines operated from Gaza International Airport, flew tens of thousands of passengers a year to Middle Eastern destinations and planned to expand to Europe. Those ambitions were crushed by the outbreak of a Palestinian uprising against Israeli occupation in September 2000, following the collapse of US-led peace talks. Over the next year, Israeli troops destroyed the Gaza airport, and Palestinian Airlines was forced to move its base to El-Arish, an Egyptian coastal resort about 60 kilometers from Gaza. Seven years ago, the airline stopped flying altogether after its reservoir of passengers dried up. It had mainly served Gazans who, starting in 2005, could no longer reach El-Arish because of increasingly frequent Israeli closures of Gaza’s borders. The closures accompanied an Israeli troop withdrawal from Gaza in 2005 and intensified with the capture of an Israeli soldier by Gaza militants a year later and the violent takeover of Gaza by the Islamic militant Hamas in 2007. Until last year, the vast majority of Gaza’s 1.7 million residents were locked inside the territory, in part because Egypt went along with Israel and largely kept its Rafah border terminal with Gaza closed. After the ouster of Egyptian President Hosni Mubarak in 2011, Rafah gradually reopened and Gazans are now able to travel, though restrictions remain, particularly for men under 40, who need Egyptian security clearance. Palestinian Airlines once again had potential customers. On May 9 it resumed operations, starting with biweekly flights between El-Arish and Marka Airbase in the Jordanian capital of Amman. The new route means Gazans no longer have to travel to Cairo, some 350 kilometers (215 miles) from their territory, to board planes. Mustafa Abu Dan, a Palestinian civil servant, on Sunday bought four tickets at a Gaza City travel agency for a flight to Amman. He said he’s pleased to be saving time and money, but he worried that Gazans and their travel plans will always vulnerable to political upheaval. “Rafah is the only gate for us to the world now, but still it’s linked to the political developments in Egypt,” said Abu Dan, 32. “I voice my hope to have our own airport again so we can travel without problems, like others.” In one of the many political twists of Palestine air travel, the carrier is owned by the Palestinian Authority, the West Bank-based political rival of Gaza’s Hamas rulers. Gaza and the West Bank lie on opposite sides of Israel, which has banned virtually all movement between the two territories.

A Palestinian family wait for a bus to cross the border from Khan Younis Refugee Camp in Gaza to the El-Arish airport in Egypt to take their flight on Palestinian Airlines to Amman, Jordan, Sunday, May 27, 2012. (AP)

Palestinians hope that one day they will be united into a state, with east Jerusalem as its capital. All three were captured by Israel in the 1967 Mideast War. The West Bank does not have an airport, and Israel is unlikely to approve Palestinian Authority plans to build one, citing security concerns. West Bank residents have to fly from neighboring Jordan. Palestinian Airlines operates two Fokker 50 turboprop planes, remnants of the original fleet that also included a since-retired Boeing 727. The Fokkers were donated by the Netherlands and the 727 by Saudi Arabia. During the years of idleness, Palestinian Airlines leased one of the Fokkers to an Egyptian carrier, Memphis, whose logo is still painted on the plane. The other plane is marked by black, red and green stripes on the tail, the colors of the Palestinian flag. On Sunday, the Amman-El-Arish flight carried 27 passengers, and 44 were booked on the return trip later in the day. The flight takes an hour and 35 minutes, more than double the time needed for the direct route over Israel. The airline does not have permission to cross Israeli air space, said regional director Azmi Samaan. Airline officials said flights to Saudi Arabia for Muslim pilgrims from Gaza are set to begin later this week, and routes to the United Arab Emirates and Turkey are being planned. The airline hopes it will eventually turn a profit, but for now national pride and making life easier for the Gazans are more important, said Samaan. “We want the Palestinian flag to continue flying,” he said in an interview at Marka Airbase. “This is part of the independent state, to have an airline, no matter what it will cost us.” He acknowledged that the airline also represents the many setbacks over the years for Palestinian statehood hopes. When Gaza’s airport was inaugurated in 1998, thousands cheered it as a milestone toward independence. This time around, flights resumed with little fanfare. Samaan said it’s better than not flying at all. “At least, we are there,” he said. “We are in the market.” -AP

ics teacher at Oxford University but eventually found her calling in music. “My sister is a professional singer too but somehow music to me was always something of a hobby not a profession where I could make a living.” Saving up over time, she began studying voice at the Royal College of Music and the RCM Britten Theater, and now performs and teaches regularly at a number of reputed venues like The Royal Opera House, Covent Garden, The English National Opera, Opera de Lynn and has sung for movie soundtracks including ‘Lord of the Rings’ and ‘Star Wars’. Feeling like she’s tread the untrodden path by singing in an opera in Kuwait, Beckley considers her performance here as a mixed blessing. “In London, it’s become very predictive,

we know what to expect and it could be stale perhaps?! Here it feels like we are doing something new.” Beckley however admits that this kind of music appeals to a smaller section of society. “I suppose it has a reputation for being staid and boring but there is fast paced music for operas but all operas tend to get tied with the same brush.” As for music now getting very different from what it used to be, Beckley says that can’t be helped. “Classical music is big but not infinite and it doesn’t redeem itself. It’s also more complicated and difficult to understand. With the new generation, future of western culture is catching on in Arab countries, and I only hope it’s done in a proper way. That’s what I really care about.”

US embraces Venezuela’s musical imperialism

WASHINGTON: Politically, the United States and Venezuela are antagonists. However, beyond the limelight, cultural exchanges are thriving: the Venezuelan musical education program El Sistema is branching out to poverty-stricken US cities. US authorities slam Venezuelan President Hugo Chavez as a demagogue, Chavez describes US President Barack Obama as a “clown.” Verbal skirmishes and outright sanctions often hide the fact that both countries share a cultural alliance, with organizations like El Sistema acting as a bridge. The education scheme was founded in 1975 by economist and musician Jose Antonio Abreu, and it annually reaches out to about 40,000 children from mostly poor backgrounds in Venezuela. Gustavo Dudamel, the celebrated music director of the Los Angeles Philharmonic, is one of its products. Dudamel, who grew up in a humble home, rose to achieve international acclaim. He embodies the potential of El Sistema, which is also finding an echo in the world’s richest country. Over the past four years, the program has expanded into the United States. “The movement is burgeoning all over the country,” says Tony Woodcock, president of the New England Conservatory and a sponsor of El Sistema. “It is a diffuse, viral movement, unlike the Venezuelan model, which is pretty tightly controlled and unified.” In cold Juneau, Alaska, there is a project inspired by the Venezuelan model. In sunny Miami, 5,500 kilometers away, there is another. In between those two, there are 52 orchestra programs under El Sistema’s umbrella. One of the leading projects is in the East Coast city of Baltimore. The program founded by the local symphony orchestra is called OrchKids. Following the example of El Sistema, it is aimed at underprivileged elementary school students in the impoverished west of the city. This afterschool program keeps the children off the streets and teaches them to play instruments like the violin or the trumpet. However, that is hardly all. “It’s about more than just learning to play some notes on an instrument,” says Dan Trahey, 32, the man behind OrchKids. “The orchestra is a metaphor for society. It teaches understanding and empathy.” Demand for El Sistema’s approach to social development is huge in a city like Baltimore. A quarter of the 400 OrchKids students are growing up in poverty. Only one out of 10 chil-

dren in Baltimore graduates from college, which is in turn the most significant precondition to get a job in the United States. Besides, one out of 10 city residents is addicted to heroin. Heroin abuse has such deep roots in Baltimore that dependency is often passed on by mothers to their children. It is not yet clear how many of the children who have such a handicap can break away from it with help from OrchKids, Trahey notes. However, experience shows that the program’s children do better at school and are more active in the community. Compared to the Venezuelan program, which is subsidized by the state, the scattered US projects have reached a smaller number of children, 4,500 in total. “It’s not that many children, but it is a start,” says Mark Churchill, who paid a visit to Abreu 12 years ago and then founded the lobby group El Sistema USA. After all, Churchill notes, every child that El Sistema prevents from landing in prison saves the state a huge amount of money. El Sistema in the United States is expected to remain a loose group of different projects. The political and economic system in the country is simply not receptive to a centralized program like the Venezuelan variant, Woodcock says. However, he is quick to brush aside criticism that the system is “too socialist” for the United States. “El Sistema pre-dates the Chavez regime by several decades,” he stresses. “It is clear that the program is apolitical. The promise of teaching children an instrument and strengthening the communities is one that resonates pretty universally,” Woodcock notes. The Venezuelan experience has inspired programs beyond the United States. In Latin America and in other parts of the world there are youth orchestras like those envisaged by Abreu. Stories like that of Lianne Salas highlight the strength of the vision of this Venezuelan man, now aged 72. A violin teacher from Cebu City in the Philippines, Salas has been touring the United States since the beginning of the year. Beyond OrchKids, she has visited scores of youth orchestras as an inspiration for her own dream: to establish El Sistema on the Asian archipelago. And although she is only now joining the family built around this musical education program, she already sounds like Abreu. “I just happen to be from the Philippines,” she says. “The whole world needs El Sistema.”. -dpa

ALWATAN DAILY

entertainment Song Of The Day

Fahad AlSabah Staff Writer

Song: The Riot’s Gone Artist: Santigold Album: Master of My Make-Believe Genre: Alternative In short: Santigold started as a songwriter before taking the helm herself; working with the likes of Mark Ronson, Basement Jaxx, and Pharrell Williams among many others, Santigold has already established her place among the industry’s inner circle. Master of My Make-Believe is her second studio album, produced by Diplo, John Hill, Greg Kurstin, Q-Tip, and Switch to name a few. “The Riot’s Gone” shows a different side of the songstress backed by a top notch Kurstin production. To listen to the song visit www.alwatandaily.com E-mail your feedback to falsabah@alwatandaily.com

The Buzz NC musician Doc Watson still in critical condition Grammy-winning folk musician Doc Watson remains in critical condition at a North Carolina hospital after undergoing colon surgery this past week. A spokeswoman at Baptist Hospital in Winston-Salem said late Saturday night that Watson remained in critical condition. The 89-year-old Watson’s daughter, Nancy, says the musician fell Monday. The blind singer and guitarist has won several Grammys, including a lifetime achievement award. He also received the National Medal of the Arts. Watson is known as a master of the flatpicking style of guitar playing. He also started Merlefest, an annual gathering of musicians in Wilkesboro named after his son, who died in a tractor accident in 1985. -AP

Country’s George Jones released from hospital Country music star George Jones has been released from the hospital. In a news release from Jones’ publicist on Saturday, Jones says he is improving, and “I look forward to seeing everyone soon.” Jones, regarded as the greatest voice in country music history, was hospitalized for the second time this year on Monday in Nashville, Tenn., with an upper respiratory infection. The 80-year-old spent a week in the hospital in March as well. The “White Lightning” singer has canceled his live performances through the month of June and will reschedule shows where possible. Jones says in the news release he’s got a new team of doctors treating him, “and it seems to be working.” -AP

Zimbabwe arrests British music presenter Organizers of a classical music festival in Zimbabwe say authorities arrested a prominent British music personality at a concert in the second city of Bulawayo. The city’s Academy of Music said Saturday that Petroc Trelawny, the presenter of top classical music programs for the British Broadcasting Corp., remained in police cells after being arrested at Bulawayo’s City Hall late Thursday. It said Trelawny, aged in his 40s and a long time supporter of the academy who had made previous visits, volunteered to introduce and be the compere at the concert for no fee. Police and immigration authorities alleged he was working in Zimbabwe without an employment permit. Conditions in filthy police cells in Zimbabwe are notoriously harsh, worsened by near freezing night temperatures in May. -AP

Jon Favreau starring in but not directing Iron Man 3 Jon Favreau may have ceded directing duties on “Iron Man 3” to Shane Black, but the man who helped launch Tony Stark onto movie screens will still be involved in the upcoming sequel. The director of the first two Iron Man movies will return as Stark’s chauffeur and personal assistant Happy Hogan, Favreau’s publicist confirmed to Reuters. In addition to ferrying Robert Downey Jr. around, Favreau will also executive produce the film. Black, who is taking over directing the film, wrote the screenplay as well. He is best known for writing “Lethal Weapon” and previously directed Downey Jr. in “Kiss Kiss Bang Bang.” Favreau most recently directed 2010’s box office disappointment “Cowboys & Aliens,” which at one point was supposed to star Downey Jr. in a role that later went to Daniel Craig. As an actor, he will next be seen in “People Like Us,” a drama about a man who discovers he has a sister, which hits theaters on June 29. In addition to Downey Jr. and Favreau, Gwyneth Paltrow and Don Cheadle will reprise their roles in “Iron Man 3” as Pepper Potts and James Rhodes, respectively. New additions to the cast include Ben Kingsley, who will menace Iron Man as the villainous The Mandarin. -Reuters

Tim McGraw giving houses to military vets during tour Country star Tim McGraw is launching HomeFront, a national program that will award mortgage-free homes to wounded military vets in the 25 cities on McGraw’s summer tour. Partnering with Chase and Operation Homefront, McGraw will give away one house to a military family in need in each of the stops on his tour, beginning with Tampa on June 2. ACM Lifting Lives, the Academy of Country Music charity, and The Premier Group (on behalf of the North Carolina Furniture Manufacturers) will also support HomeFront with contributions throughout the summer. McGraw is kicking off the program with a concert for service members at New York City’s Beacon Theatre on Memorial Day. The concert will stream live on YouTube and to military bases around the world on The Pentagon Channel. McGraw’s “Brothers of the Sun” summer tour - a stadium-only run with fellow country star Kenny Chesney - comes just as he signed a new deal with Big Machine Records. -Reuters

MONDAY, MAY 28, 2012

Lady Gaga cancels Indonesian show after threats JAKARTA, Indonesia: Lady Gaga canceled her sold-out show in Indonesia after Islamist hard-liners threatened violence, claiming her sexy clothes and provocative dance moves would corrupt the youth. The controversy was a blow to the predominantly Muslim country’s reputation for combining free speech and democracy with a mostly moderate brand of the faith. Fans were devastated, despite the promoter’s offer of full refunds. Some accused police - who refused to issue a permit over concerns about security - of buckling to the will of a small group of thugs. The planned “Born This Way Ball” concert has been onagain-off-again from the start. But on Sunday, it was final, said Minola Sebayang, a lawyer for Big Daddy, the promoter of the June 3 show. “It’s unfortunate,” he said. “But with threats if the concert goes ahead, Lady Gaga’s side is calling it off. This is not only about Lady Gaga’s security, but extends to those who will be watching her.” Indonesia, a secular nation of 240 million, is often held up by the US and others an example of how democracy and Islam and can coexist. In many ways they are right. Since emerging from dictatorship just over a decade ago, sweeping reforms have resulted in direct elections, while vastly improving human rights and freeing up the media. But a small extremist fringe has become more vocal - and violent - in recent years, attacking Christians and members of other religious minorities, transvestites, atheists and anyone else deemed “immoral.” The most notorious group, Islamic Defenders Front, called Lady Gaga a “messenger of the devil” and vowed to turn out at the airport by the thousands if she tried to step off the plane. Others said they bought tickets so they could wreak havoc from inside the 52,000-seat stadium in the capital, Jakarta. Police responded by denying the necessary permits. Then, after public outcry, they said they’d reconsider - but only if Lady Gaga agreed to tone down her act. Instead, she pulled the plug on what was supposed to be the biggest stop on her Asian tour. Michael Rusli, head of Big Daddy, promised “Little Monster” fans full refunds. But that provided little consolation to people like 25-yearold Johnny Purba. “This only shows to the world how weak security forces are in this country, how police are afraid of a bunch of hard-liners,” he said. “Gaga’s two-hour show will

Indonesian Islamic hardliners chanting “go to hell Lady Gaga” stage a protest against US pop diva Lady Gaga’s upcoming Jakarta concert in front of the Security Ministry in Jakarta on May 25, 2012. (AFP)

not hurt Indonesian Muslims. For God’s sake, she is not a terrorist!” Around 50 others, dressed up like the pop diva, performed a mob flash dance at a shopping mall in the capital, Jakarta, to some of her biggest hits. Hard-liners, however, were ecstatic. “This is a victory for Indonesian Muslims,” said Salim Alatas, one of the leaders of the Islamic Defenders Front, or FPI. “Thanks to God for protecting us from a kind of devil.” Earlier, Murhali Barda, a spokesman for the group, said

supporters had purchased more than 150 tickets to the concert. He’d posted a picture on his Facebook page of a man hiding his identity with a turban and sunglasses and holding a $50 ticket to the “Ball.” “We have gotten Lady Gaga tickets,” the caption said. “Not to watch but for us to enter.” “Our target is to stop the concert,” he wrote, providing little more detail. “We would force them off the stage but not harm the audience.” -AP

Sweden wins song contest marked by Azeri dissent BAKU: Sweden’s Loreen won the Eurovision Song Contest in Azerbaijan on Sunday before an international TV audience of 100 million, days after angering Azeri authorities by meeting rights activists critical of the host country’s human rights record. Opposition groups have used the Eurovision spotlight, intended by Azerbaijan to promote the oil-rich country as a destination for tourism and business, to demand democratic reform and the resignation of the government. Dozens of peaceful protesters have been arrested this month in Baku. Activists say some buildings in the centre of the city were torn down to make way for the Eurovision arena, an extravagantly illuminated 23,000-seat “Crystal Hall” on the shores of the Caspian Sea, and residents were forcibly evicted without proper compensation. The 28-year-old pop singer won with the song “Euphoria” in the annual competition of 42 countries, delighting viewers and the contest’s professional judges and dancing barefoot as she sang. After the show, traditionally heavy on kitsch, bizarre costumes and dramatic presentation but low on politics, Loreen steered clear of any controversial statements. “This is about all of us! Thank you so very much!” she told a news conference. “Time has stopped,” Loreen said about her feelings after she was announced as winner. Russia’s entry, rural folk group Buranovskiye Babushki (Grannies from Bura-

Aliyev of stifling dissent in the southern Caucasus nation, which became independent of the Soviet Union in 1991. Aliyev, who denies the accusation, has run the country since 2003, when he succeeded his father. Historical and magical

Loreen of Sweden holds her trophy after winning the Eurovision song contest in Baku, May 27, 2012. (Reuters)

novo), dressed in traditional peasant dress and somewhat incongruous in the dancing spotlights, came in second. Serbia’s Zeljko Joksimovic was third. Last week, Loreen met activists who accuse the government of forcing people from their homes for the building of the hall, an accusation Baku denies. Azeri authorities accused her of making political statements that had no place at a musical event. “Human rights are violated in Azerbaijan every day,” the opposition newspaper Azadliq quoted Loreen as saying after last week’s encounter. “One should not be silent about such things.” Opposition activists and international rights groups accuse President Ilham

After the result was announced, hundreds of people poured onto a roundabout in central Stockholm, dancing in a fountain, honking horns and waving flags and playing the winning song. “This is historical and magical! I think I’m going to die. This is the best thing that has happened to Sweden in 13 years!” said 20-year-old Tanja Tuuliainen, wearing a Swedish flag and drinking from a bottle of champagne with her girlfriends on the edge of a fountain in downtown Stockholm. Sweden’s entry last won the Eurovision competition in 1999. The Eurovision Song Contest has been a launching pad for international careers. Swedish pop group Abba became famous after winning in 1974 with “Waterloo” and Canada’s Celine Dion took top honors in 1988 for Switzerland. To promote talent over politically and geographically motivated bloc voting, professional judges now account for 50 percent of a performer’s score. The other half comes from telephone and SMS votes received by each contestant, with fans unable to vote for their own country’s entry. As winner, Sweden will host the next Eurovision contest. -Reuters

Michelle Obama, daughters attend Beyonce concert ATLANTIC CITY: Michelle Obama was with the single ladies this weekend, joining 5,500 fans at a Beyonce concert in Atlantic City. The first lady was with daughters Sasha and Malia at Revel Resorts, where Beyonce performed two dozen songs Saturday night. Obama’s husband, President Barack Obama, did not attend. Gov. Chris Christie was among the sell-out crowd packed into Revel’s Ovation Hall. Michelle Obama and the girls appeared excited throughout the concert, cheering Beyonce on. The daughters even sang along to the old school-sounding jam “Love on Top.” Obama recently told People magazine that if she could be anyone else, it would be Beyonce. And she came close, at least in how she was received by the audience: The first lady got a roaring cheer that matched Beyonce’s as she made her way to her seat in a shiny green dress. Some fans took photos while others screamed her name. One yelled, “This is history! Beyonce opened the night with the upbeat “End of Time,” wearing a glimmering silver outfit and hot pink shoes that matched her nails. She followed that with more up-tempo hits like “Crazy In

Love,” ‘’Get Me Bodied” and “Party.” During the slower grooves, Beyonce brought on the emotion. She held back tears during a rousing rendition of “Resentment” and sat on top of a piano when belting the love song “1+1.” The multiplatinum singer’s Atlantic City concerts are her first since giving birth in January to daughter Blue Ivy. “Y’all don’t know how hard I had to work,” Beyonce told the crowd. “I had to lose 60 pounds. They had me on the treadmill, eating lettuce.” Beyonce paid tributes to late singers throughout the night, singing a verse of Whitney Houston’s “I Will Always Love You” and giving Donna Summer a shoutout when performing “Naughty Girl,” which samples Summer’s hit “Love to Love You Baby.” She also performed a cover of Lauryn Hill’s “Ex-Factor” and infused Goo Goo Dolls’ “Iris” when she singing “If I Were a Boy.” Beyonce was backed by her all-female band and numerous dancers - some men. She also performed Friday and has shows on Sunday and Monday at Revels, which also has a casino. “I hope y’all win a lot of money tonight,” Beyonce said at the end of her show. -AP

In this Friday May 25, 2012 photo provided by Parkwood Entertainment, Beyonce performs at Revel in Atlantic City, New Jersey, for the resort’s premiere. (AP)

Bullying drama scoops Cannes new talent prize

PARIS: “After Lucia”, a harrowing drama about a young girl who falls prey to bullying, on Saturday won the top prize at the Cannes Film Festival new talent sidebar, Un Certain Regard. The movie by Mexico’s Michel Franco tells the story of teenaged Alejandra who arrives in a new city with her father after her mother dies in a car accident, only to become the target of vicious bullying at school. Tessa Ia, the sister of Mexican star Gael Garcia Bernal, holds the lead role in the movie, described by its director as “a study of violence in all its forms”, and one of 17 competing in the sidebar competition. Un Certain Regard’s jury prize went to “Le Grand Soir” by France’s Benoit Delepine and Gustave Kervern, an oddball road movie about an ageing punk rocker and his brother, who lives a tame life until the day he loses his salesman job. The best acting prize was shared between Suzanne Clement and Emilie Dequenne, for their parts in “Laurence Anyways” by 23-year-old Canadian Xavier Dolan, and “A Perdre la Raison” by France’s Joachim Lafosse, respectively. Clement plays the girlfriend of a man who decides to undergo a sex change in Dolan’s ambitious drama, while Dequenne delivers a searing performance in Lafosse’s film about one of society’s last taboos, infanticide. The jury also gave a special mention to “Djeca” (Children of Sarajevo) by Bosnian film-maker Aida Begic, about the lingering ghosts of the country’s war. The Palme d’Or, the top prize in the main competition at Cannes, will be handed out on Sunday to one of the 22 films in the race. -AFP

Kidman dry-eyed at Cannes ovation as co-star cries

CANNES: The Cannes standing ovation brought Zac Efron to tears, but Nicole Kidman remained dry-eyed. Their movie, “The Paperboy,” premiered at the film festival Thursday. A steamy Southern noir, it’s about a journalist who returns to his Florida roots to investigate a murder. “The Paperboy” received mixed reactions at press screenings before the premiere - so the cast were delighted when the audience took to their feet to clap for 15 minutes after seeing it. But while a teary Efron described the ovation as one of the most profound moments of his life, Kidman remained dry-eyed. Kidman says she saves her tears for her family. “We got an amazing standing ovation, which was great. This is my fifth time so I’ve had many, many, many different reactions,” she said. “That’s the longest standing ‘O’ I’ve ever gotten at Cannes.” Daniels and the rest of the cast, however, were overwhelmed. “Lee was crying, but I wasn’t crying. I cry at my kids, I cry with my family, I don’t really cry outside of that - that’s the stuff that brings me to tears!” Kidman said. “All of this other stuff, the glitter, and those sort of things, I’m more sort of immune to at this stage. It’s probably because I’ve been doing it for so long.” After mixed reviews, the film’s cast and director Lee Daniels, who also directed “Precious” in 2009, were delighted with the 15 minutes of applause. Efron says it was one of the most profound moments of his life. “The Paperboy” - a steamy 1960s small town thriller - is competing for the Palme d’Or. The 65th Cannes Film Festival runs to Sunday 27th when the jury sits down to choose its prizewinners. -AP

ALWATAN DAILY

AROUND TOWN / TIME OUT

MONDAY, MAY 28, 2012

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

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Lulua Publishing launches Good Health Arabia, region’s only Arabic language wellbeing magazine KUWAIT: Dubai-based Lulua Publishing has launched Good Health Arabia, an Arabic language sister title to the health and wellbeing lifestyle title published by ACP Magazines in Australia. Under license from ACP Magazines, Good Health Arabia aims to fulfill a need in the region for informative, up-to-date, entertaining and relevant information and opinions that empower women in their focus for a healthy and fruitful lifestyle. The only one of its kind in the region, the publication addresses everyday challenges a woman faces, providing tips and solutions to meet them head on with content rich information to promote a better living and wellbeing. Good Health Arabia will build on Good Health Australia’s extensive expertise and library in providing quality editorial content, including sections covering health, fitness, nutrition and diet, as well as comprehensive analysis by some of the best doctors and specialized writers in the world. Commenting on the already well-received launch witnessed across the Middle East, Lulua Publishing Founder and Publisher Sheikha Intisar Al-Sabah said, “The region is lacking in reliable Arabic resources in the field of health and wellbeing, and the topical, informative and entertaining delivery Good Health Arabia provides serves our audience on many levels. “Our objective at Lulua Publishing is to provide our readers with solid yet entertaining information, and the inspiration to use that knowledge to improve their lives. As a result of this, and the absence of a dedicated Arabic-language publication, we have already seen tremendous response to this very credible title appearing on shelves in the Middle East.” Featuring Nancy Ajram on the cover of the May edition, as well as an interview with the Lebanese celebrity focusing on her personal techniques to live a healthy life, the May print run was introduced to the Kuwait

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market at an exclusive event where readers were able to meet with the star and receive signed copies of Good Health Arabia. In an energetic, vibrant atmosphere, the event immersed the attendees in the character and persona of the publication, imparting them with the knowledge to lead an empowered, spirited and wholesome lifestyle. Available in the UAE, KSA, Kuwait, Qatar, Oman, Bahrain, Lebanon, Iraq and Jordan, the print edition of Good Health Arabia is to be followed by an Arabic language Good Health website, enabling women in the Middle East to access the publication’s rich information on a digital platform.

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

a glance Arts presents Carnevale, an extravaganza of dance and celebrations from across the Globe. The event will take place starting June 8th until June 9th on the British School of Kuwait Campus at Salwa Block 1, Street 1, Villa 32. For more information please contact 60052087/25623604.

New Toastmasters Club Second and fourth Tuesday/ 7 p.m. - 9 p.m. / Jabriya: A new Toastmasters Club is being formed and encouraging new members to join. Toastmasters International is a world leader in communication and leadership development. It is a non-profit international organization dedicated to improve member’s communication and leadership skills by attending and participating toastmasters meetings. For more information, please contact Khaled Al-Hashem at 65588824.

K’S PATH invites applicants for the adoption of pets Lilly is a gentle and gorgeous two-year-old female Tiffany cat. She is confident and loves being the center of attention. Lilly will be a wonderful addition to a family with children aged 5 and above. To adopt contact K’S PATH at (+965) 67001622 or visit the website www. kspath.org

Waist Watchers Sadu House Tour May 28/ 5:30 p.m. - 7:30 p.m./Sadu House: The Sadu House is a place to discover the Bedouin art of weaving, it’s styles and history. Established in 1979 and now renovated it exhibits a wonderful collection of textiles. Souvenirs are also available for purchase in it’s on site shop. The event is available for public (registration needed) and costs 2KD for admission. It will be held in Sadu House, Gulf Road, in front of the National Museum. For more info contact 25335280.

AUB Annual Gala Dinner June 1/ 8:00 p.m./Sheraton Hotel: AUB Alumini in Kuwait hold a Charity Gala dinner each eyar to raise money for students on financial aid at the university. This year, the event will take place on June 1st with the Comedy Night from Lebanon as the main attraction of the night. The event will commence at 8:00 p.m., at the Diamond Ballroom in the Sheraton Hotel. The event is available for public and is free of charge.

BAIA Carnevale June 8 - 9/ 1:00 p.m. - 6:30 p.m./Salwa: The British Academy of International

Every Tuesday/ 6 p.m. – 7 p.m. / British Ladies Society: Meetings are based on the world’s most successful healthy eating plan. Weekly meetings include private weigh in, motivational talks, recipes to try, and cooking demonstrations. Fee of KD 2.500 is required to cover for the cost of course material. For more info contact; Danielle desertdanny@hotmail.com.

Cissi is a pretty and friendly 6-month-old mix-breed female dog who loves to play and run. She is very affectionate and enjoys a cuddle. Cissi will do great in a family with children aged 8 and above.

Hip Hop at BAIA Every week/ Salmiya: BAIA offers weekly Hip Hop classes for students aged five and up. These “just for fun” classes are a great work-out. For more information visit www.thebaia.com or contact: info@thebaia.com. Telephone: 2562 3604 ext.154, 2562 0706 ext.154. Mobile: 6005 2087.

Brainbang session October 7-April/ 11:45 a.m. -1:45 p.m. /Salmiya: BRAINBANG, the creative arm of Friends of CRY Club (FOCC) invites all students aged 11 and above, to join us fortnightly on Fridays. The areas of development are: Creativity in learning, tools and techniques to empower your mind, profile based learning, activity, fun, games and worksheet based assignments, practical experiments, mind gymnastics and application of learning techniques to conventional study. E-mail: brainbang@focckwt.org or call 25660835/25618471/97677820.

Dilbert

Ugandans in Kuwait (UIK) Are you a Ugandan living and working in Kuwait? Would you like to get in touch with other Ugandans in Kuwait both socially and professionally? We would like to invite you to register with the Ugandans in Kuwait (UIK) association, an informal organization of Ugandans living and working in Kuwait. This association is voluntary. It is designed to create a forum for Ugandans in Kuwait to foster a sense of community, to communicate more effectively with each other and to encourage Ugandans out here to work together.We are also planning a celebration to mark 50 years of Ugandan’s Independence this year. If you have any questions regarding this then please send an email at ugandansinkuwait@gmail.com.

Embassy of Korea The Embassy of the Republic of Korea wishes to inform that it has moved to Mishref, Block 7A, Diplomatic Area 2, Plot 6. Contact: 25378621/2/3/4/5. The embassy also wishes to inform that it will be opened to the public on the following office hours: Morning: 8 a.m. 12:30 p.m. Lunch break: 12:30 p.m. - 1 p.m. Afternoon: 1 p.m. - 3:30 p.m.

Nancy

Horoscopes Aries: March 21 - April 19

Parts of your life that have recently taken a backward turn get back on track Aries. You’ll find that large projects involving electricity, gadgets, or any mechanical parts will finally be favored now. Be patient, for today’s energy shift may be subtle.You’ll begin to feel this increase in forward motion more over the next week so just sit back and relax for now. Taurus: April 20 - May 20

Issues involving fashion, magazines, and the spoken or written word will slowly begin to take a positive direction today, Taurus. Things have been obscured lately, or their development has been more backward than forward. The good news is that the tide is turning. You will notice that over the next few weeks things will get right back on track so just count on them. Gemini: May 21- June 21

It could be that you’ve been losing faith in your dreams and fantasies lately, Gemini. Now is the time to focus on what you want and move with confidence. You’ve gone through enough reflecting and reviewing. It’s time to implement and create. Dream big and don’t let others stand in the way of your progress.

Cancer: June 22 - July 22

Recent opposition standing in the way of long-term goals is apt to ease a bit today, Cancer. Situations surrounding these issues will become clearer, and you’ll have a better idea of what exactly you’re up against. You’ll find that this is a very climactic time for you and you will now begin to reap the rewards of all you have sown when opportunities were better. Leo: July 23 - August 22

It’s time to review your dreams and fantasies, Leo. Perhaps things that you’ve been working toward haven’t exactly panned out the way you’d hoped. The good news is that things will surely be turning around in your favor starting today. Just take control of your dreams and you’ll find that you can get them moving forward and upward again. It’s just a matter of time. Virgo: August 23 - September 22

Things that have been out of whack in your life will begin to come back into balance,Virgo.The bad news is that it may take a while for the pendulum to return to optimal point. The good news is the shift is taking place at all. It will be a gradual change but you are at a pivotal point in which you can set your sights on exactly what you want.

Libra: September 23 - October 22

The tide will start to ebb today just after it reaches its highest point. There is a pause now, Libra, and you’ll find that things will pick up considerably again. The shift that’s happening within you is profound. Even though you may not notice its effects all at once, you should trust that several things will be coming your way as the days, weeks and months pass by. Scorpio: October 23 - November 21

You may have been engaged in a battle with the facts lately, Scorpio. Perhaps some new information has forced you to take a step back as you contemplate the next move in your game plan. Research time is over and now you need to get back into the game with full force. Respect other people’s properties as much as you would respect your very own. Sagittarius: November 22 - December 21

Goals that may have seemed unreachable in the recent past are finally starting to come into focus, Sagittarius. It could be that you’ve been neglecting your dreams because they only seemed to move farther away every time you addressed them. Have faith that your luck is starting to change.

Capricorn: December 22 - January 19

You’ll have had a hard time launching long-term personal projects lately, Capricorn. Today marks a critical starting point toward attaining your goals. Perhaps there has been some confusion or delay. You’ll find that things are suddenly becoming much clearer. Complete all those projects that you’ve put off simply because they were frustrating to deal with earlier. Aquarius: January 20 - February 18

Shake off the dust of the past few weeks and put confusion behind you, Aquarius. Your tremendous imagination and creative ability have been dormant lately because you may have not known how best to channel them. The good news is that all things are changing. Make conscious efforts to refocus this creativity in a positive direction and you’ll be fine. Pisces: February 19 - March 20

Long-term projects that you’ve been working on are apt to shift into forward gear today, Pisces. The change may be subtle, but it’s quite powerful. Dreams that may have seemed difficult to achieve now have more of a chance to actually manifest.Take this opportunity to reset your dials and make big plans for your ideal future.

ALWATAN DAILY

SPORTS

MONDAY, may 28, 2012

tennis

Del Potro takes hard road in Paris PARIS: Former champion Juan Carlos Ferrero disappointed the crowd while Juan Martin del Potro overcame a knee injury as both men reached the second round of the French Open on a gentle opening day on Sunday. Ferrero knocked out battling local player, and Roland Garros debutant, Jonathan Dasnieres de Veigy 6-1, 6-4, 6-3 in bright sunshine on the Suzanne Lenglen Court. The 25-year-old Frenchman, cheered heartily by fans in the half-full stands, needed two bouts of treatment on his serving arm at changeovers and saved two match points before putting a forehand long on the third. The Spaniard, who at 32 is one of the more seasoned campaigners in the men’s draw, was not entirely happy with his performance but he said his age did not bother him. “When I walk on the court I don’t think whether I am young or old, the only thing I try to do is play well,” the world number 44 and the winner here in 2003 told a news conference. Spaniard Ferrero will now play Marin Cilic after the Croatian defeated Spain’s Daniel Munoz 6-4, 6-4, 7-5. Ninth-seeded Argentine Del Potro, the 2009 US Open winner, had treatment on his left knee at the end of the second set but fought on to defeat Spaniard Albert Montanes. Del Potro, who won the Estoril Open on clay three weeks ago, will now play Frenchman Edouard Roger Vasselin. Ana Ivanovic, the 2008 French champion, blew kisses to the crowd after making short work of Spanish qualifier Lara Arruabarrena-Vecino in her opening match. The Serbian, seeded 13th, finished off a 59minute 6-1, 6-1 demolition with an ace.Australian Samantha Stosur, seeded sixth, was also in a hurry,

Juan Martin Del Potro of Argentina returns the ball to Albert Montanes of Spain during the French Open tennis tournament at the Roland Garros stadium in Paris May 27, 2012. (Reuters)

taking just over an hour to dismiss Britain’s Elena Baltacha 6-4, 6-0. Stosur, runner-up here in 2010, was happy to be back on red clay in Paris after players criticized the blue clay surface introduced at the Madrid Open this month, saying it was slippery. “It’s nice to be on a real clay court again and actually feel like you can play more clay court ten-

There remained a question mark over the result, however, with talk sweeping the paddock ahead of the race of a possible protest by rival teams questioning the legality of his Red Bull’s floor. The top five were split by just 4.1 seconds, running nose-to-tail through the hairpin, with Webber’s team mate and double world champion Sebastian Vettel fourth ahead of McLaren’s Lewis Hamilton. Alonso has 76 points with Vettel and Webber both on 73. A downpour would have shaken up proceedings in the Mediterranean principality and without it there was precious little overtaking or incident with 15 of the 24 starters finishing what was for most a one-stop race. Vettel, last year’s winner, had moved up from ninth place at the start by completing 46 laps on his first set of tyres. Hamilton dropped from third on the grid to finish fifth, losing his two places in the pits thanks to a stop that was six tenths of a second slower

Red Bull Formula One driver Mark Webber of Australia celebrates on the podium after winning the Monaco F1 Grand Prix May 27, 2012. (Reuters)

nis,” Stosur told a news conference. “I think that’s one of the things that’s probably annoyed a lot of people is that you’re on a clay court but you can’t play real clay court tennis. Top seeds Novak Djokovic and Victoria Azarenka will be in action on Monday, along with Roger Federer, starting his quest for a 17th grandslam title. -Reuters

than those of Vettel and Alonso. Ferrari’s Felipe Massa finished sixth, a big relief for the under-pressure Brazilian who had scored just two points from the first five races. Frenchman Romain Grosjean was the big loser at the start, lining up in fourth place but crashing out at the first corner with a broken suspension after tangling with the Mercedes of Michael Schumacher. Schumacher, who had set the fastest time in Saturday’s qualifying but was denied a first pole since 2006 due to a five place grid penalty carried over from Spain, retired in the pits after 64 laps. Venezuelan Pastor Maldonado, heroic winner of the previous race in Spain, also crashed out on the opening lap after starting in last place for Williams thanks to two separate penalties. Champions Red Bull were embroiled in a technical controversy before Sunday’s Monaco Grand Prix with suggestions that their cars, with Mark Webber on pole position in one of them, could be in breach of the regulations. Formula One sources indicated that a protest was likely after the race with attention focused on an apparent hole in the step plane of the floor of the car. The governing International Automobile Federation (FIA) was aware of the situation. Red Bull team principal Christian Horner was convinced that the car was legal and ruled out any pre-race changes, which would entail a grid penalty, pointing out also that it had passed pre-race FIA scrutineering in Monaco. “There was a bit of a fuss after the Bahrain race, but it was clear the car complied,” he said. “We sought clarification after that, but there is no doubt the car is fully compliant.” Red Bull, who have Australian Webber on pole alongside Mercedes’s Nico Rosberg while Red Bull’s double world champion Sebastian Vettel is ninth on the grid, have used the same floor for the past three races. The team won in Bahrain, with Vettel. The Formula One technical rules stipulate that cars cannot have holes, which would produce aerodynamic benefits, in certain areas of the floor. “There are other cars running in similar situations,” said Horner. “As I say, we’re totally comfortable with the car and that it complies with the regulations.” -Reuters

Cricket

England on verge of series victory NOTTINGHAM, England: England were on the verge of clinching the three-match series against West Indies after the tourists’ top order failed again on the third day of the second test at Trent Bridge on Sunday.

West Indies’ Shivnarine Chanderpaul (right) hits the ball past England’s Tim Bresnan during the second cricket test match against England at Trent Bridge cricket ground in Nottingham May 27, 2012. (Reuters)

PARIS: Surprise 2009 US Open quarterfinalist Melanie Oudin ended a fivematch Grand Slam losing streak by beating Johanna Larsson of Sweden 6-3, 6-3 in the French Open’s first round Sunday. Oudin, a 20-year-old from Marietta, Ga., is ranked 269th but got into the main draw at Roland Garros thanks to a wild card handed out by the US Tennis Association based on results at low-level clay-court tournaments in the United States. Against the 80th-ranked Larsson, Oudin showed some nerves at the start, double-faulting on the first point and falling behind 2-0. But the American won 10 of the next 12 games to take control, often raising a fist and yelling “Come on!” after winning points. At age 17, Oudin upset Maria Sharapova during a captivating run at the US Open. -AP

Rondo the rock as Celtics reach Eastern Conference final

Webber wins from pole in Monaco MONACO: Australian Mark Webber won the showcase Monaco Grand Prix for champions Red Bull on Sunday as Formula One celebrated an unprecedented six different winners in six races so far this season. Webber led a processional but nailbitingly close race, with the top three separated by less than a second at the finish, from pole position to checkered flag as the rain held off despite darkening skies and occasional drops. Germany’s Nico Rosberg finished second, 0.6 seconds behind Webber, with Ferrari’s Fernando Alonso third and a further 0.3 adrift to go three points clear at the top of the overall championship standings. It was Webber’s first win since Brazil at the end of last season, the eighth of his career and Red Bull’s third in a row around the metal-fenced streets and crowded harbor side of the millionaires’ playground.

Oudin ends Grand Slam losing streak at French Open

basketball

Formula one

Red Bull in technical controversy before Monaco GP

Trailing by 58 on first innings, the West Indies limped to 61 for six, a lead of just three runs with two days left. England captain Andrew Strauss with 141 and a useful partnership of 53 by all-rounders Tim

Bresnan (39 not out) and Stuart Broad (25) had lifted England past the West Indies first- innings score of 370. Although the final total of 428 was much less than seemed likely at the close on Saturday with Strauss and Kevin Pietersen at the crease it proved too stiff a challenge for the touring side missing the experienced Chris Gayle at the top of the order. Jimmy Anderson struck early to dismiss openers Adrian Barath (7) and Kieran Powell (1) before Broad captured the prized wicket of Shivnarine Chanderpaul for 11, top-edging a pull and caught on the boundary by Jonathan Trott. Bresnan trapped Darren Bravo (22), Denesh Ramdin (6) and Kirk Edwards second ball for nought, all out lbw, to leave the tourists in disarray. Marlon Samuels and Darren Sammy, who both scored centuries in the first innings, were the not out batsmen at the close. Bresnan ended with figures of three for 10 in six overs, cementing his talisman status for England as he has won all 12 test matches he has played. England lead the three-match series 1-0 after a five-wicket victory at Lord’s in the first test. -Reuters

BOSTON: Point guard Rajon Rondo stepped up to save the day in the final minutes as the Boston Celtics held off the Philadelphia 76ers 85-75 in their decisive Game Seven on Saturday and advanced to the NBA’s Eastern Conference finals against the Miami Heat. Rondo had a triple double of 18 points, 10 rebounds and 10 assists to set up the showdown with LeBron James and Dwyane Wade’s red-Hot Heat starting on Monday in Miami. Eleven of Rondo’s points, including a critical three-point shot, came after Celtics captain Paul Pierce fouled out with over five minutes to play and the game in the balance. “My night wasn’t going well. I just figured stay with it, stay positive, and something will happen,” Rondo said. Celtics coach Doc Rivers said Rondo displayed leadership, and shot-making, in the final minutes that is not always evident. “Rondo wants to run the team, and he’s a great quarterback. But tonight, obviously with Paul fouling out, he had to take charge of the team,” said Rivers. Center Kevin Garnett had 18 points and 13 rebounds for Boston, and forward Brandon Bass added 16. Andre Iguodala top-scored for Philadelphia with 18 points while Elton Brand and Jrue Holi-

day each had 15 points. But the Sixers shot only 35 percent from the field and made only 14 of 20 free throws in the team’s first game seven since 2001. “They hit us in the mouth early. We fought back, but we could never get over the top. We missed four of five free-throws late in the third quarter just when we were starting to get back into it,” said Sixers coach Doug Collins. Still, shaking off the Sixers was tough, said Rivers. “The Sixers are a pain in the ass. They are a tough basketball team,” Rivers added. “They are difficult to play against.” The series win means that Boston’s “Big Three” veteran starters, Garnett, Pierce, and guard Ray Allen, will play together for at least one more series. Allen turns 37 over the summer, while Garnett is 36 and Pierce is 34. Garnett and Allen will be free agents in the off-season, and many assume this will be their last season for Boston and possibly in the league. The team’s advanced age and creaky joints has forced a different approach to game preparation, Rivers said. “We didn’t practice one time in this entire series - that’s unheard of. We just don’t have the bodies, we don’t have the legs, to do anything else. “But listen, we’re not an excuse team. We’ll be ready to play on Monday.” -Reuters

Boston Celtics forward Paul Pierce (left) drives through the defense of Philadelphia 76ers forwards Lavoy Allen and forward Andre Iguodala during the second quarter of Game 7 in an NBA basketball Eastern Conference semifinal playoff series, Saturday, May 26, 2012. (AP)

Track and field

Legend Gebrselassie fails to qualify for Olympics

HENGELO, Netherlands: Ethiopian athletics legend Haile Gebrselassie failed to qualify for the London Olympics here on Sunday as he could only finish seventh in the 10,000 meters. The 39-year-old two-time Olympic 10,000m champion - who had already failed to post a qualifying time for the marathon admitted his hopes had been dashed after his disappointing performance against 12 of his compatriots. Ethiopia were using this as a qualifier for the Olympics. “The Games in London, is over for me,” he told AFP. “I ran a good race till the last lap. I felt good but I manifestly didn’t have the speed to compete against my rivals. “That’s life. I am not disappointed,” added Gebrselassie, whose epic defeat of Kenyan great Paul Tergat at the 2000 Olympics in Sydney, his second Olympic title, is one of the great finishes of all time. Tariku Bekele and Leleisa Desisa Benti finished first and second respectively - with the former posting the best time in the world this year of 27min 11.70sec - to book their tickets for London. The third spot is being kept for Bekele’s older brother and world record holder Kenenisa, who has been struggling for several months with a calf muscle problem. Gebrselassie, a four-time world 10,000m champion, had come into the race boosted by his victory in the 10km Great Manchester Run in northwest England last week in 27min 39secs. -AFP

FILE- Ethiopian Haile Gebrselassie runs during the 38th Berlin Marathon Sept. 25, 2011. (Reuters)

MONDAY, may 28, 2012

SPORTS

Sports Editors Highlight BERLIN: Striker Claudio Pizarro returned to Bayern Munich after a five-year absence, signing a one-year deal to boost their frontline, the club said. Peru international Pizarro, the Bundesliga’s leading all-time foreign scorer, joined the Bavarians, who lost in the Champions League final to Chelsea last week to end their second consecutive season without silverware, after a three-year stint at Werder Bremen. “We are delighted to have signed a such a dangerous forward who also has so much international experience,” said Bayern sports director Christian Nerlinger. The 33-year-old, who played for Bayern between 2001-07 before joining Chelsea, has scored 160 goals in 333 Bundesliga matches. -Reuters

Football

Donovan hat-trick as US hit five past Scots JACKSONVILLE, Florida: Landon Donovan struck a superb hat-trick as the United States crushed Scotland 5-1 in a friendly international on Saturday handing the Scots one of their most humiliating defeats. Juergen Klinsmann team’s fifth successive win was a sparkling performance against a woeful Scotland team who were unable to match the speed and creativity of the Americans. The US were 2-0 up inside 11 minutes and never looked back as they produced the kind of high-tempo display their German coach has demanded of them. “We had a wonderful start with two early goals which really set the tone and the team really kept the rhythm throughout the entire game,” said the former Germany striker and coach. Donovan had said earlier in the week he was finding it hard to get motivated but on Saturday there was no short of hunger from him in an outstanding display from the US’s all-time top scorer, who now has 49 goals. The L.A. Galaxy forward opened the scoring in the third minute and then eight minutes later midfielder Michael Bradley blasted in from 25 yards out after a delightful set-up from Jermaine Jones. Scotland pulled one back in the 15th minute when US defender Geoff Cameron inadvertently chested in a header from Kenny Miller. But that was the last real threat from Craig Levein’s team as the Americans ran away with the game after the break with three goals in a ten minute blitz. The outstanding Jones picked out Donovan inside the box for the team’s third on the hour and the forward completed his hat-trick in the 65th minute when his shot

went in off the inside of the post. Donovan turned provider for the fifth with a pinpoint cross that Jones, who had charged through the open midfield, headed past Allan McGregor to make it 5-1. After February’s friendly victory away to Italy the signs are that Klinsmann’s changes to US team, 10 months after he took over from Bob Bradley, are bearing fruit. “We kept the tempo going, the energy was high and we saw some wonderful goals, Landon had his hand in four of them, and obviously for a coach it was fun to watch,” said Klinsmann. Donovan, who praised a loud 44,348 crowd for energizing the team, said he did not want his midweek comments about motivation to be misunderstood. “I don’t want to be mistaken for not caring, I care and I like being a part of this team. I’m a professional and I do my job, I’ve been doing it a long time. Tonight was one of those nights when things went right,” he said. While the US can look forward to their World Cup qualifying campaign which starts on June 8 against Antigua and Barbuda, Scotland have no competitive games until their bid for Brazil 2014 begins in September. “I think it was evident that there was one team out there who were focused and ready to dictate the game and another one who looked like they had finished the season and had nothing to play for,” said Levein. “We didn’t give ourselves a chance tonight but the USA were very good. I’ve been here before as a coach, it happens sometimes, the team have been excellent recently and that was most unlike them tonight.” -Reuters

Barry injury clouds Hodgson’s winning start

Landon Donovan (10) of team USA breaks away from defenders Charlie Mulgrew (left) and Scott Brown of team Scotland during first half play on May 26, 2012. (AFP)

Question marks for Portugal after bore draw with Macedonia

LISBON: Portugal faced a barrage of whistles from their fans after a disappointing 0-0 home draw against Macedonia on Saturday left question marks over the team’s form ahead of Euro 2012. Their unimpressive display was livened only by a couple of threatening free kicks from captain Cristiano Ronaldo. Coach Paulo Bento said he understood the fans’ reaction. “I can’t criticise fans who paid their ticket and came to watch a better match and a better result,” he told reporters.

“The result was not good and the exhibition was not good but we shoud not be overly concerned.” Portugal, finalists at Euro 2004, will need to be stronger to progress from arguably the toughest group at Euro 2012, where they face Germany, the Netherlands and Denmark. Macedonia, number 98 in the world ranking and coached by former Liverpool striker John Toshack, were well organised but reliant largely on counterattacks. Bento’s side play Turkey in a friendly next Saturday, their final test before leaving for Poland. -Reuters

Spain’s Del Bosque opts for Negredo ahead of Soldado

England manager Roy Hodgson(center) kicks a ball as he stands alongside Gareth Barry during a training session at The Etihad Stadium, Manchester, England, May 24, 2012. (AP)

OSLO: Roy Hodgson was left sweating on an injury to Gareth Barry after launching his reign as England manager with a 1-0 win over Norway at the Ullevaal Stadium. Barry had come on as a half-time replacement for captain Steven Gerrard but lasted barely 30 minutes before hobbling off with a groin injury that leaves him in doubt for the upcoming Euro 2012 championship. The Manchester City midfielder faces a scan to determine the seriousness of the injury, but with England needing to confirm their final squad for the tournament by Tuesday, Hodgson has little time to play with. If Barry’s injury is serious, it could open the door to Liverpool’s Jordan Henderson or another player on the list of five stand-bys named when Hodgson unveiled his original 23-man squad earlier this month. Hodgson refused to speculate on the severity of Barry’s injury but acknowledged he was “worried” by the development. “I’m not prepared to say it’s serious at the moment,” Hodgson said. “All I’m going to say is that it’s going to demand our attention and as you all know, we don’t have a lot of time if the scan shows that there is something more than minor.” Meanwhile Hodgson insisted he was satisfied with a solid but unspectacular performance from England, who scored the game’s only goal through Ashley Young early in the first half. “I thought we showed a lot of discipline. I thought we worked very hard,” Hodgson said. “I don’t think we were as good going forward as we have the potential to be. It’s very much a work in progress, after three days

with this team I’ve got to be satisfied that we’ve come here, given a more than reasonable performance and come away with a win.” Hodgson also praised the contributions of goal scorer Young and his strike partner Andy Carroll, who is now expected to start England’s opening two Euro 2012 matches in the absence of the suspended Wayne Rooney. “I thought he was good. Full-stop,” Hodgson replied when asked about Carroll’s contribution. The England manager also challenged Manchester United star Young to use next month’s Euros as the platform to announce himself on the world stage. “I think he’s at the right age, the right time in his career, if he’s going to be a top international player,” Hodgson said. “The platform is there for him in the coming Euros, and not only the Euros, but in the years to come. He’s had a pretty good season with Manchester United but with all the talent he possesses, now is the moment for him to really kick on and blossom even more.” England will regroup next week ahead of Saturday’s friendly against Belgium at Wembley, when Hodgson will also have Chelsea’s contingent of Champions League winners, John Terry, Frank Lampard, Ashley Cole and Gary Cahill. However Hodgson was coy when asked if the starting XI chosen to face Belgium next week would most likely be the team to face France in Donetsk on June 11. “Allow me to be satisfied with what I’ve seen from these players tonight and then I’ll turn my attention towards the team to play Belgium,” Hodgson said. -AFP

AUSTRIA: Sevilla striker Alvaro Negredo edged Roberto Soldado for the final striker’s spot in defending champions Spain’s squad for Euro 2012 announced by coach Vicent del Bosque here on Sunday. Negredo effectively fills the void of Spain’s record goal scorer David Villa after scoring 14 goals in La Liga in the season just finished. Soldado misses out despite scoring 17 league goals as his form dipped dramatically in the latter stages of the season. Barcelona’s Pedro was rewarded for doing exactly the opposite as his rich vein of form in the latter part of the season saw him make the squad. “Pedro had an inconsistent season like others did,” said Del Bosque. “But we took into account certain aspects of his season. We looked at his season in its entirety. And also we need players out wide, wingers who are effective,” added del

Bosque of the 20102 World Cup winner. Negredo will compete for places up front with Fernando Torres, who showed glimpses of a return to form for Champions League winners Chelsea at the end of the season, and Athletic Bilbao’s Fernando Llorente. There are just four members of the 2008 squad missing, with Carlos Marchena and Joan Capdevila no longer in favor and talismanic defender Carles Puyol and Villa out because of injuries. The midfield is dominated by Barcelona with Xavi Hernandez and Andres Iniesta definite starters while Cesc Fabregas and Sergio Busquets are also included. However, Barcelona informed del Bosque that former Arsenal captain Fabregas will need up to 10 days to recuperate from the pulled right thigh muscle he suffered in the Spanish Cup final. “The doctors are optimistic in his

case,” said Del Bosque. “It is an injury from which he should recover pretty quickly, although it did give me pause for thought when I came to select the definitive squad.” In defense Del Bosque named Atletico Madrid right-back Juanfran in place of the injured Andoni Iraola, who had an outstanding season for Athletic Bilbao. “Juanfran had a good season for Atletico and for that reason gets to replace the injured Iraola,” said Del Bosque. Spain will remain at their training camp here and have two more warm-up matches - they beat Serbia 2-0 on Saturday - against South Korea and China before moving to their base for the championship in Gniewino on June 5. They begin their title defense on June 10 against Italy, before other group games against the Republic of Ireland and Croatia. -AFP

Toulon made to fight to beat Racing in play-offs PARIS: Toulon qualified for the French Top 14 semifinals after a tense, come-from-behind 17-13 play-off win over Racing Metro on Saturday. Toulon will face Clermont in their June 3 semi, with Castres, who beat Montpellier 31-15 on Friday, up against Toulouse 24 hours earlier. Toulon were made to work for this win, Jonny Wilkinson’s side trailing 13-3 at half-time following a try by Benjamin Fall and eight points from the boot of Sebastien Descons and Francois Steyn. Toulon’s only points at the break were one successful penalty from Wilkinson from four attempts. Australian Matt Giteau took over from the misfiring England star in the second period to add the first six points after the break.

After the hour, Toulon were back in the game at 13-9, and they then took the lead for the first time when flanker Steffon Armitage touched down with Giteau adding a late penalty to see Toulon home. Racing coach Pierre Berbizier, summing up his side’s uneven performance, said: “We were actors in the first half and spectators in the second. And we’ll be spectators again, in front of our television sets, next weekend (for the semifinals).” Castres booked their last four ticket on Friday night with victory over Montpellier for their first appearance in the semifinals since 2001. Pierre Bernard and Romain Teulet were responsible for kicking 26 points combined. This win was revenge for Castres after they lost 18-17 at home at the same stage last year to Montpellier. -AFP

Alvaro Negredo of Spain walks off the pitch at the end of a training session on May 23, 2012 in Schruns, Austria. (AFP)