May 31, 2012

THURSDAY, MAY 31 , 2012

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Issue No. 1451

20 PAGES

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150 Fils with IHT

UN rights council to meet on Syria Friday Putin spokesman says Russia not shifting on Syria

CAPITALS: Diplomats will discuss the massacre in the Syrian town of Houla at a special session of the United Nations Human Rights Council (UNHCR) on Friday, a spokesperson said.

Qatar, Turkey, Saudi Arabia, Kuwait, Denmark, the United States and the European Union have requested the meeting to address the “deteriorating human rights situation in the Syrian Arab Republic and the killings in Houla,” said a statement from spokesperson Rolando Gomez.

The request has so far received the support of 21 member states and 30 observers, but the list does not include the signatures of China and Russia.

The council has previously held three special meetings and an urgent debate to discuss rights abuses committed since the March 2011 crackdown by the regime of President Bashar Al-Assad.

Last week’s massacre, which left at least 108 dead, sparked global outrage and prompted many Western nations to expel their Syrian diplomats in protest.

The Office of the High Commissioner for Human Rights (OHCHR) said on Tuesday that inves-

tigations showed most of those who died were summarily executed, including children.

Daily killings continue in Syria despite the April 12 implementation of a six-point peace plan brokered by UN-Arab League envoy Kofi Annan.

More than 13,000 people have died in almost 15 months of violence, according to figures from the British-based monitoring group the Syrian Observatory for Human Rights.

Meanwhile, Russia is not considering changing its stance on Syria and any attempts to apply pressure on Moscow are “hardly appropriate”, President Vladimir Putin’s spokesman said on Wednesday.

“It would make sense to expect a continuation of the Russian Federation’s consistent and well-argued line” on Syria during Putin’s visit to Germany and France on Friday, Dmitry Peskov told Reuters.

Russia, which has blunted Western efforts to condemn President Al-Assad and push him from power over 15 months of bloodshed, has been urged to stop supporting the government after a massacre Western nations blame on Assad’s forc-

es. “Russia is a country with a consistent foreign policy and any pressure is hardly appropriate,” Peskov said when asked whether Western and Arab countries were pressing Moscow to change its position.

“Nobody has unambiguous information” about the massacre in the Syrian town of Houla and Russia believes “one should not give in to emotions at such an important moment,” he said.

Russian Foreign Minister Sergei Lavrov has said both the Syrian government and its opponents were to blame for the killings, and Moscow has called for an investigation under the aegis of the UN observer mission in Syria.

Russia says it supports envoy Kofi Annan’s UN-backed peace plan, not Al-Assad or his government, and that Western and Arab nations with influence over government opponents must use it more effectively to get them to abide by a ceasefire. Speaking in France almost a year ago, Putin said Russia has no special relationship with Syria and did “not intend to give anybody cover” but emphasized Moscow’s opposition to foreign interference in sovereign states. -Agencies

Court upholds death for citizen over Filipina murder

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NBK celebrates six decades of serving Kuwait

The Amir Sheikh Sabah Al-Ahmad Al-Sabah (right) receives a copy of the Amir’s application to open an account in 1953, from the Deputy Chairman of the National Bank of Kuwait Nasser Musaed Al-Sayer, during celebrations to commemorate 60 years of the bank in Kuwait City May 30, 2012. The National Bank of Kuwait was the first national banking institution in the entire Arabian Gulf. (Reuters) More on 9

Al-Saifi’s grilling motion ‘may disunite Majority’

Staff Writers

Guards march down the Mall in London decorated with British flags in readiness for the weekend celebrations to mark the Diamond Jubilee of Queen Elizabeth II around The Mall and Buckingham Palace, Wednesday, May 30, 2012. The capital is preparing to celebrate the Diamond Jubilee, the 60th anniversary of the accession of Queen Elizabeth II to the throne. (AP)

Judges sentence Charles Taylor to 50 years LEIDSCHENDAM, Netherlands: Former Liberian President Charles Taylor was sentenced to 50 years imprisonment Wednesday for arming and supporting murderous rebels in Sierra Leone in return for “blood diamonds,” a landmark sentence activists hope will send a clear message to despots around the world that they will be held to account for sponsoring atrocities.

Taylor, wearing a blue suit and gold tie, stood grim-faced and silent as Presiding Judge Richard Lussick of Samoa imposed what will likely amount to a life sentence for the 64 year old. Lussick said Taylor’s position as head of state at the time of his crimes put him in a “class of his own” when judges came to setting the sentence - one of the longest ever handed down by the Special Court for Sierra Leone or any other international tribunal.

Taylor shipped arms, ammunition and other supplies to rebels in Sierra Leone in return for personal wealth in the form of diamonds mined by slave labor and to gain increasing political clout in the volatile West Africa region.

Taylor’s reaction in court Wednesday was in stark contrast to the delight of survivors who gathered in the Sierra Leone

capital, Freetown, to watch a live feed of the sentencing.

“That makes me the happiest person on earth,” said Alimami Kanu, who was 11 when rebels backed by Taylor hacked off his right hand. He was one of thousands of civilians mutilated during Sierra Leone’s decade-long civil war that ended in 2002 with some 50,000 dead. Human rights activists and international law experts also hailed the tough sentence as a warning shot for war criminals.

“Today’s sentence not only reflects the severity of Taylor’s crimes, but sends a clear message that individuals who aid and abet war crimes can no longer act with impunity,” said Patrick Alley, director of Global Witness, a nongovernment group that campaigns to prevent conflicts erupting around exploitation of natural resources such as diamonds and timber.

The sentence came a month after Taylor became the first former head of state since World War II to be convicted by an international court. Judges found him guilty of 11 counts of war crimes and crimes against humanity, including murder, rape, torture and the use of child soldiers. Taylor will serve his sentence in a British jail. -AP

Mubarak sons face charges over stock market fraud

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Thailand furious at Lady Gaga’s fake Rolex tweet

BANGKOK: Thailand’s government is up in arms over a tweet by pop sensation Lady Gaga about buying a fake designer watch in a Bangkok street market and has complained to the United States.

Bangkok’s sprawling outdoor markets and some of its big shopping malls are widely known for selling near-perfect replicas of famous luxury brands, often imported from China.

Even so, Gaga’s May 23 tweet, two days ahead of a sellout concert in Bang-

kok, struck a raw nerve with some Thais who said the zany artist had dented the country’s reputation by suggesting she could easily get her hands on a fake Rolex watch. The Grammy Award winner, who cancelled a concert after threats in Indonesia and faced protests by conservative groups in the Philippines and South Korea, has not apologized for the tweet, which Thailand’s Commerce Ministry said undermined its efforts to stamp More on 17 out piracy.

KUWAIT: While the Majority Bloc’s Coordinative Committee is scheduled to meet next week to discuss MP Al-Saifi Al-Saifi’s interpellation against the Minister of Social Affairs and Labor Ahmad Al-Rujaib, sources told Al Watan that the bloc is rocked by differences over the said interpellation.

Though Al-Saifi has been reportedly given the green light to go ahead with the quizzing, differences persisted among members of the bloc concerning this particular interpellation.

Sources said that MP Al-Saifi is hastening the interpellation, for he is aware of the plans regarding the imminent Cabinet reshuffle, asserting that this is personal and intended to achieve electoral gains.

Meanwhile, the sources have not ruled out that MP Khaled Shukhayyar may follow Al-Saifi’s footsteps by offering to file a motion to question the Defense Minister Sheikh Ahmad Al-Khaled Al-Sabah, adding that although the Majority Bloc has been aware of the willingness of Al-Saifi and Shukhayyar to question the said ministers, it took no action. The sources added that the bloc’s inaction might prompt the latter to impose his interpellation dur-

ing the upcoming meeting.

Moreover, MP Mohammad Al-Kandari affirmed that Al-Saifi has failed to coordinate with the majority concerning his interpellation against Minister Al-Rujaib or make the items of his questioning available to them.

“This is a personal interpellation that we don’t support and we differ with him on the timing, as well,” the lawmaker was quoted as saying.

Al-Kandari further remarked that this interpellation will cause political tension, while expressing concern that it might undermine the majority’s unity.

CONTINUED ON PAGE 2

Poland seeks apology for Obama Holocaust comments

WARSAW: Poland demanded an apology from Washington after President Barack Obama spoke of a “Polish death camp” while announcing an award to a Polish resistance fighter for alerting the world to the Nazi Holocaust, largely perpetrated on Polish soil. The matter is a delicate one in Poland, which suffered a brutal Nazi occupation during World War Two and has long campaigned against suggestions it bore any responsibility for the slaughter of some 6 million European Jews. “The White House will apologize for the outrageous mistake,” Foreign Minister Radoslaw Sikorski wrote on his Twitter account on Tuesday night. “It’s a pity that ignorance and incompetence overshadowed More on 5 such a momentous ceremony.”

Kuwait Energy led consortium wins exploration contract for block 9 in Iraq

Compiled by Al Watan Daily

KUWAIT: Kuwait Energy, one of the fastest growing independent oil and gas companies in the Middle East, announced in a press release that a consortium led by the company was awarded Wednesday the exploration and development contract of block 9 in Basra, Iraq. The announcement was made by the Iraqi Ministry of Oil and tender committee during the country’s fourth energy bidding round, which awarded exploration and development contracts for 12 blocks with hydrocarbons prospects.

Kuwait Energy led the consortium that bid for block 9, which also included the national oil company of Turkey, Turkish Petroleum Corporation (TPAO), and Dragon Oil, an independent international oil and gas exploration, development and production company. Kuwait Energy will be the operator of the block with a 40 percent working interest, while TPAO and Dragon Oil will each hold a 30 More on 10 percent working interest.

Top court backs Assange extradition to Sweden

STOCKHOLM: The Supreme Court ruled Wednesday that WikiLeaks founder Julian Assange can be extradited to Sweden, but put his deportation on hold to give his lawyers a final chance to reopen the case. After an 18-month legal battle, the court rejected the argument by lawyers for the 40-year-old Australian that the Swedish prosecutor who issued the arrest warrant over sex crime allegations was not entitled to do so.

“The request for Mr. Assange’s extradition has been lawfully made and his appeal against extradition is accordingly dismissed,” Supreme Court president Nicholas Phillips said as he delivered the ruling to a hushed courtroom.

The seven judges were split five to two, but their majority ruling was that the prosecutor was a rightful judicial author-

ity and therefore allowed to issue the warrant for the Internet whistleblower.

But in a new twist, Assange’s lawyer Dinah Rose asked the judge for 14 days to consider whether to apply to reopen the case, on the grounds that the judgment referred to material not mentioned during the last court hearing in February.

The judge granted the request - which is highly unusual in the three-year history of the Supreme Court -saying that if the court does reopen the appeal it will accept further arguments either at a fresh hearing or on paper. “With the agreement of the respondent, the required period for extradition shall not commence until 13th June 2012,” the Supreme Court said in a statement. Assange himself was not in the central London court to hear the judgment. -AFP

A protestor kneels in the middle of the typically busy Third Mainland Bridge after students blocked traffic in Lagos, Nigeria, Wednesday, May 30, 2012.

Students from the University of Lagos and unemployed youths shut down a major bridge in Lagos on Wednesday while protesting a proposed name change for their university. On Tuesday, President Goodluck Jonathan said the University of Lagos would be renamed Moshood Abiola University in honor of a political prisoner who died in jail over a decade ago. (AP)

Twenty-seven killed as Yemen army repels militant ambush ADEN: At least 20 militants and seven soldiers were killed in Yemen on Wednesday when government troops fought off an ambush by Islamist militants on the edge of a southern town controlled by an Al-Qaeda-linked group, an army official said.

Islamist fighters attacked a position recaptured earlier this week by Yemeni forces to the west of Jaar, a town which the army is closing in on as part of a US-backed drive to stabilise the country.

Several towns in the region, including Jaar, were overrun by militants during a popular uprising last year that severely weakened central government control over swathes of Yemen and eventually toppled former President Ali Abdullah Saleh. The United States and its Gulf Arab allies are increasingly alarmed by deteriorating security in Yemen, home to al Qaeda’s Arabian Peninsula wing (AQAP), which is seen by Washington as a serious threat internationally.

Backed by the United States, the Yemeni army has launched a major aerial and ground offensive in the south of the country, where militants have gone on the rampage in recent months, looting ammunition depots and killing scores of soldiers.

The defense ministry said in a text message that an air strike on Wednesday targeted a gathering of militants in the coastal town of Shaqra, which AQAPlinked fighters also control. -Reuters

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Al-Jarallah: Parliamentary criticism made against Ministry of Foreign Affairs is acceptable

Ministry of Foreign Affairs Undersecretary Khaled Al-Jarallah on the sideline of the African Open Day that was held Wednesday, May 30, 2012 at Regency Hotel. (Al Watan) Wafaa Qansour Staff Writer

KUWAIT: Ministry of Foreign Affairs Undersecretary Khaled Al-Jarallah expressed his sorrow regarding the statement made by the Iranian Ministry of Foreign Affairs, after Kuwait sentenced four Iranian suspects who were involved in the espionage network case to life in prison. The Iranian authorities had called the verdict an act of ‘terrorism’.

Al-Jarallah said that such irresponsible statements overlook facts and underestimate the Kuwaiti judiciary system that is highly respected in Kuwait; especially that the sen-

tences were handed down after extensive investigations and thorough interrogations that left no stone unturned.

He added that the evidences are solid and are beyond any doubts. It is worth noting that Al-Jarallah had made those statements on the sideline of the African Open Day that was held yesterday at Regency Hotel. The event was attended by several ambassadors and political figures, where seven African countries took part in it. He mentioned that Kuwait is keen to collaborate with African countries, and asserted that Kuwait has strong ties with Africa. He noted that Kuwait will make huge investments in Africa, and will take initiatives to develop investment relations between Kuwait

Court upholds death for citizen over Filipina murder KUWAIT: The appeals court on Wednesday upheld the death sentence for a Kuwaiti housewife for murdering her Filipina domestic helper, but commuted the punishment on her disabled husband.

In February, the lower court sentenced the couple to death after convicting them of premeditated murder.

But the appeals court reduced the sentence on the husband to 10 years in jail and confirmed the penalty on the wife who was convicted of regularly torturing the maid before driving over her, according to the court ruling. The names of the couple and the maid were not available.

Representatives from the Swaziland Embassy are seen in their traditional costume at the African Open Day held on Wednesday, May 30, 2012. (Al Watan)

According to the ruling, the woman beat her maid for several days until her health deteriorated.

The couple then took the maid “unconscious” to a remote area in the desert where they threw her from the back seat of the car and then drove over her until she died.

The verdict will become final if the Supreme Court confirms the sentence.

More than 100,000 Filipinos, most of them women working as maids, live in oil-rich Kuwait, where some 600,000 domestic helpers, mostly Asians, are employed. -Agencies

and Africa.

Concerning the criticism he faces by some MPs who accused him of obstructing the redeployment of ambassadors, he said that such criticism is acceptable and is a source of pride. He described the step taken by Minister of Foreign Affairs Sheikh Sabah Al-Khaled as ‘unprecedented’ and ‘reformative’. He asserted that such a step will be rewarding in the future, and stressed that this step is totally legal and was highly accepted. When asked if the Bahraini issue was raised during the visit made by Iranian Ministry of Foreign Affairs Ali Akbar Salehi, he revealed that the visit was made by the minister to deliver the invitation sent to His Highness

the Amir Sheikh Sabah Al-Ahmad Al-Sabah to take part in the Non-Aligned Countries Summit. He added that the visit was very productive and fruitful, where several issues were discussed. Regarding Houla massacre, the undersecretary mentioned that a meeting will be held for the Arab League, where all options will be deliberated. He went on to say that the most suitable option will be adopted, in order to stop the bloodshed of the Syrian people. He added that other steps will be taken after expelling Syrian ambassadors from most countries.

Moreover, he announced that a Kuwaiti ambassador will be appointed in Saudi Arabia soon.

Salam Road to be closed due to water pipeline extensions

Citizen rescued thanks to Saudi organ exchange pact

KUWAIT: A Kuwaiti woman’s life was saved after she was given a new liver as part of an organ exchange deal with Saudi Arabia.

The Kuwaiti, who was suffering from liver failure, was handed the functional liver of a deceased Saudi male in a transplant operation that was carried out at Saudi Arabia’s King Faisal Specialist Hospital and Research Centre.

Since the start of the year, some 28 donated organs have switched sides between the two neighbouring countries as part of a Gulf Cooperation Council health deal signed in 1996, said chief surgeon at Hamid Al-Essa Organ Transplant Center Dr. Mustafa Al-Mousawi. -KUNA

Chief surgeon at Hamid AlEssa Organ Transplant Center Dr. Mustafa Al-Mousawi.

(KUNA)

Al-Saifi’s grilling motion ‘may disunite Majority’ continued from page 1

Speaking at the National Assembly on Wednesday, MP Adnan Abdulsamad asserted that Al-Saifi’s interpellation needs political convenience, adding that all the indications point to its irrelevance.

The MP also made reference to the Dow issue, saying that he made it clear in 2008 that the entire issue requires a technical standpoint. “At the time, the Budget Committee decided to meet with the Dow Company to identify technical aspects concerning the deal only to learn that the deal was scrapped due to pressures from MPs and threats of questioning the prime minister,” MP Abdulsamad recalled.

He said that those who mounted pressure for the deal to be cancelled were aware of the penalty clause, and urged the perpetrators of this blunder to apologize to the people of the country and the State for the losses they have caused.

On the other hand, the lawmaker commented on the issue of depositing the recent pay increases, saying that the government can make deposits in June based on the previous budget, as relayed by the Ministry of Finance. He assertively said that there is no link between the depositing of pay increases and the endorsement of the budget.

The MP, in the meantime, explained that the Budgets Committee discussed the financial plan meant for the Public Authority for Housing Welfare, adding that the number of housing applications reached 98,000 since 1994. Abdulsamad further noted that the Sabah Al-Ahmad City Project has been finalized apart from

certain utilities.

Also, the Parliamentary Finance Committee finalized proposed amendments to the privatization of the Kuwait Airways Corporation.

The Committee Rapporteur MP Ahmad Lari stated that there are several hindrances concerning the transformation of the national carrier to a private company, noting that the losses incurred by the airliner are estimated at 460 million Kuwaiti dinars, including 120 million owed to local banks.

He added that the final report has been finalized and will be forwarded to the Parliament, pointing out that the amendments include that the period of setting up the company be reduced from 3 years to one year, as per the government’s point of view.

In other news, MP Shaya Al-Shaya addressed a query demanding the Foreign Ministry’s reactions to “surprising” remarks by the spokesperson of the Iranian Foreign Ministry who was commenting on the life imprisonment sentences issued against a number of Iranian nationals.

The Iranian official, according to the lawmaker, described the verdicts are baseless. Al-Shaya questioned the ministry’s failure to immediately react to what he described as flagrant interference with Kuwait’s internal affairs.

With regard to the situation in Syria, MP Osama Al-Menawer proposed coordination with the Free Syrian Army to determine their needs from equipment, arms and supplies. The MP also suggested that donations be opened for the Free Syria Army under the supervision of government.

Handout image of the UN roundabout.

Traffic General Department opens office for collecting fines in airport Mervat Abduldaim Staff Writer

KUWAIT: Due to the ongoing construction work on the Jahra Development Project, the entrances and exits for Salam Street branching off the Jahra Road opposite the Shuwaikh Residential area will be closed off on Thursday May 31, 2012.

The closure, which will last for three

days and end on Sunday June 3, 2012, has been prompted by water pipeline extensions. In this context, the site Engineer Hanan Hussein, who is in charge of the project engineering, indicated that approvals were obtained from the Traffic General Directorate.

She explained that the area’s residents can use secondary road, while offering her apology for any inconvenience that might arise due to these measures. In other news, Traffic General Department opened an office at Kuwait International Airport (KIA) to submit services to passengers at the airport wherein passengers who had some traffic tickets can pay the fine at the office. Moreover, passengers who had traffic tickets in the past had to visit traffic departments to pay fines, therefore

the department held several meetings recently to facilitate paying fines for passengers. Meanwhile, the Assistant General Manager (GM) of department for driving license affairs Brigadier Ihsan Al-Awaish held a meeting with the Chairman of Traffic Violations Department colonel Mushin Al-Makhyal to discuss the possibility of opening the office.

After completing the required procedures the office department was opened at the airport and located near the entrance of the airport on the ground floor.

The office works according to three shifts.

The morning shift starts from 8 A.M. until 1 P.M. while the evening shift starts from 4 P.M. until 9 P.M. in addition to another night shift. The office is to begin work starting tomorrow (Friday).

Projects set to reduce level of underground water in residential areas: MEW Khaled Al-Otaibi Staff Writer

KUWAIT: A source at the Ministry of Electricity and Water revealed to Al Watan that a number of projects are being considered to decrease the level of underground water in order to protect the buildings and infrastructure.The ministry had recently floated a project to examine the sites and to test soil in the location of the Doha Water Desalination Station by reverse osmosis to produce 100 imperial gallons of water a day. The Central Tenders Committee set June 12, 2012 as deadline for receiving offers from companies which do the tests.

A reliable source at the ministry said that the project is considered the first step to implement the Doha Station Project, which is included in the ministry’s plan 2012/2013, with estimated cost 140 million Kuwaiti dinars and aims to increase production of water and to ensure drinkable water for public consumption.

The source said that a number of projects are being considered by the Underground Water Department in different areas in Kuwait, particularly the new ones.

The source added that the department is preparing the tenders on digging wells in different areas in order to measure the level of underground water.

The source said that there are projects to reduce the level of underground water in residential areas including Adiliyah, Kifan and Khaldyiah. The source stressed the importance of the development of wells in Atraf Field for producing brackish underground water.

The source added that the department implemented the geo-hydrology studies project in Wafra and Abdali to control the usage of underground water in these areas so that it can last longer. He said that the department also implemented a project for digging underground water wells to reduce its level at locations of agricultural experiments station, located in Rabiyah.

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KSH urges government to sign International Convention on rights for disabled Nafel Al-Hemidan Staff Writer

Kuwaiti Society for Handicapped during a press conference held on Wednesday, May 30, 2012 in the presence of the delegation from the International Organization for Rehabilitation of Buildings for People with Disabilities, which visited Kuwait and had a field tour in several areas and public facilities. (Al Watan)

KFAED donates $4 million to Chad to tackle food crisis KUWAIT: In response to its food crisis, the state-founded Kuwait Fund for Arab Economic Development (KFAED) has donated four million US dollars to Chad aimed at increasing food production as part of a fund, which supports generous living standards in Islamic nations.

The amount will be used in encouraging small-sized projects aimed at producing food, and all matters related to it like farming, storage and marketing, among others.

The ‘generous lifestyle fund for Islamic nations’ was founded, according to an initiative, by the His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, during the Fourth World Islamic Economic Forum held in Kuwait in 2008.

The fund was equipped with $100 million from Kuwait aimed at achieving food security in Islamic countries. -KUNA

Foreign Ministry denies allegations made in Al-Seyassah’s editorial FM embarks on visit to Tunisia Thursday

KUWAIT: A Foreign Ministry source denied allegations made in Al-Seyassah newspaper’s Monday, May 28, editorial in which it said that a member of the parliamentary panel investigating money transfers outside the country said offensive words against the ruling family to one of the Kuwaiti ambassadors.

The source dismissed these allegations as “untrue” by saying that the offensive words were not heard by any of the ambassadors.

The source urged the newspaper to be more accurate next time.

Deputy Prime Minister, Foreign Minister and Minister of State for Cabinet Affairs Sheikh Sabah Al-Khalid Al-Hamad Al-Sabah left today for Tunisia to head Kuwait’s delegation to the fifth session of the Arab-Sino Cooperation Forum which will be held in Tunis tomorrow.

The fifth session is a continuation of previous rounds held since 2004 to discuss the strategic cooperation between Arab countries and the People’s Republic of China and ways to strengthen its mechanisms for cooperation in the political, economic, cultural and environmental spheres.

The delegation accompanying Sheikh Sabah Al-Khalid consists of Director of the Arab World in the Foreign Ministry Ambassador Jamal Abdullah Al-Ghanim, Director of Office of the Deputy Prime Minister and Minister of Foreign Affairs Ambassador Sheikh Dr. Ahmad Nasser Al-Mohammad Al-Sabah, Kuwaiti Ambassador to China Ambassador Mohammed Saleh Al-Thuwaikh, permanent Kuwait’s representative to the Arab League Ambassador Jamal Mohamed Al-Ghoneim in addition to a number of senior officials of the Ministry of Foreign Affairs. -KUNA

Mexican medical delegation due to visit Kuwait in June MEXICO: A Mexican medical delegation headed by the Undersecretary at the Ministry of Health for medical services would visit Kuwait by the middle of next June, ambassador of Kuwait to Mexico Sameeh Johar Hayat has announced.

“The aim of the visit is benefiting from the Kuwaiti experience in this field, specifically in the specialties of public health, diabetes, cancer and heart diseases,” Hayat said in a statement, late on Tuesday. This would contribute in enhancing means of cooperation and bolstering bilateral ties between the two nations, he affirmed.A Kuwaiti medical delegation would also visit Mexico soon to benefit from their experience in the fields of first aid, accidents, and control of epidemics.

The ambassador earlier met with the Mexican Minister of Health Armando Awad at the Ministry’s headquarters, during which they discussed means of strengthening relations between the two countries at various levels.

The meeting is meant to activate the memorandum of understanding in the medical field, signed between Kuwait and Mexico last February. -KUNA

KUWAIT: Secretary of the Kuwaiti Society for Handicapped (KSH) and National Secretary for International Rehabilitation Munirah Al-Mutawaa urged the government to sign the International Convention on the rights of people with disabilities which has been already signed by Gulf Cooperation Council (GCC) countries and all Arab countries except for Somalia and Mauritania. She pointed out that she contacted a number of officials who expressed willingness to take such move.

This came during a press conference held by KSH in the presence of the delegation from the International Organization for Rehabilitation of Buildings for People with Disabilities, which visited Kuwait and had a field tour in several areas and public facilities.

Al-Mutawaa said that a team was formed which visited a number of public and private facilities and took notes in preparation for implementing projects which take into account the needs of people who have different kinds of disabilities.

For his part, President of the Arab Region at the International Organization for Rehabilitation Khaled Al-Mohtar said that most of the buildings visited by the team are not qualified to serve people with disabilities. He said that the organization is coordinating with the Higher Council for Family to implement a

project to qualify the buildings to serve people with disabilities.

Al-Mohtar said that the delegation will prepare a report on its vision on how to rehabilitate public and private facilities. He added that the Law on Disabled, which had recently been issued in Kuwait, has a lot of material privileges, noting that his organization works on providing training and jobs for Disabled.

For his part, representative of the Ministry of Communications Engineer Mejbil Al-Thufairi said that a number of important sites have been visited in order to evaluate them including Liberation Tower, Shaye Mosque, Jabriya Cooperative Society and Kuwait International Airport, in addition to a number of malls and entertainment facilities in cooperation with Kuwait Municipality, Kuwait Institute for Scientific Researches (KISR), the Ministry of Public Works, the Ministry of Education and KSH. He added that a contract was signed with an international institution on preparing a strategy for rehabilitation of buildings to serve the Disabled.For his part, representative of Kuwait Municipality and Director of Engineering Systems Engineer Adel A-Atram said that a delegation from Municipality accompanied the delegation and took notes. He expressed regret over the fact that Disabled are not taken into account while designing buildings. He stressed the need to change the culture of society in this regard and called for stiffening penalties on those who violate the laws.

Social affairs holds third forum for senior citizens care, rehabilitation Hamed Al-Said Staff Writer

KUWAIT: Under the patronage of the Assistant Undersecretary of Ministry of Social Affairs and Labor for Social Care Affairs Hamad Al-Mudhadi and the presence of the Chairman of Elderly Care Affairs Department, Ali Hassan, the Third Annual Forum for Senior Citizens’ Care and Service was held on Wednesday.

Hassan affirmed that the Kuwaiti Constitution stipulates submitting equal rights to all citizens, particularly at aging, illness or disability. He emphasized that this kind of care can be considered as an urban practice which unveils the great inertest provided to all elderly people.

He added saying that the different institutions at ministry exert hard efforts to submit distinguished services to the senior citizens through executing the program of comprehensive care.

The program also focuses on increasing the social awareness on aging in addition to the problems senior citizens usually suffer from. He said that the department looks for developing its services continuously according to local and international agreements concerned with social care.

Hassan added the forum can be considered part of the developmental projects completed, which were already included in the government agenda.

Assistant Undersecretary of Ministry of Social Affairs and Labor for Social Care Affairs Hamad Al-Mudhadi along with Chairman of Elderly Care Affairs Department Ali Hassan attending The Third Annual Forum for Senior Citizens’ care on Wednesday, May 30, 2012. (Al Watan)

IICO’s charitable role extolled

KUWAIT: Minister of Justice and Minister of Awqaf and Islamic Affairs Jamal Shehab said here on Wednesday that the International Islamic Charitable Organization (IICO) has excellent contributions in the field of relief work and an influential presence in the philanthropic efforts through its development projects.

Shehab said in a speech at the opening of the 13th meeting of the IICO’s General Assembly that the IICO is a source of pride and a giant Islamic civilized hope attached to by all Muslims.

He said the IICO has a moderate and clear message in the face of calls for preaching and doctrinal deviation, especially in several countries that have experienced a lot of those perverted and politicized calls, hoping for more charity and intellectual projects for the advancement of the nation’s march of civilization.He welcomed the participants to Kuwait that has always attached attention to Islamic world in the fields of science, intellectuality, development and charity, in addition to the special attention and patronage of His

Highness the Amir Sheikh Sabah Al-Ahmad AlJaber Al-Sabah.

For his part, President of the IICO, Dr. Abdullah Al-Maatouq said that the IICO is seeking to consolidate the institutional structure and develop its mechanisms through a strategic plan to become one of the best world charitable bodies through development projects and programs, strategic partnerships and specialized human skills.

He said Kuwait has always been helpful for those in need under the directives and guidance of His Highness the Amir, saying that such step reflects His Highness the Amir’s continued support for humanitarian work and his commitment to stand by peoples in need. For his part, Undersecretary of the Ministry of Awqaf and Islamic Affairs Dr. Adel Al-Falah said in a speech on behalf of the awardees that the IICO is an edifice of many international charitable edifices and a model to be followed for planning, implementation, awareness and anticipation. -KUNA

Kuwait commends Algeria on progress at UPR session GENEVA: The State of Kuwait commended on Wednesday the progress made by Algeria on issues and dossiers related to human rights, and urged more efforts on rights of woman and child, youth training, and anti-drugs programs, at the session assigned for the discussion of the Universal Periodic Review (UPR) of Algeria.

Algeria was represented by a 28-member delegation headed by Foreign Minister Mourad Medelci.

Kuwait’s representative and member of the country’s UN mission Malik Al-Wazzan was addressing the Human Rights council after the Algerian review of its report, and noted, “The report reviewed by Minister Medelci indicates the challenge Algeria is facing, and particularly the challenge of terrorism.” The diplomat said the review showed “the extent of the cooperation of the Algerian Government where Human Rights mechanisms are concerned, and showed its adoption of reform policies, lift of state of emergency, and consolidation of the Rights of Women and Rights of the Child in the country.” Al-Wazzan congratulated Algeria on the great work and care put into the UPR report being discussed, which shows the right methodology to promote Human Rights.

He also hailed the positive step of amending certain laws, commended the recent elections, and the country’s overall strife to realize the Millennium Goals. -KUNA

Kuwait, Cambodia discuss boosting tourism cooperation KUALA LUMPUR: Kuwaiti ambassador to Cambodia Dhrar Nasser Al-Tuwaijri has discussed means of cooperation with the Cambodian Minister of Tourism Dr. Thong Khon. The ambassador told Kuwait News Agency (KUNA), in a phone call on Wednesday, that Khon considered his presence in the Asian nation as necessary for enhancing and bolstering bilateral ties between the two countries in various fields.

Khon, during the meeting, attended by the Ministry’s Director-General, stressed on importance of implementing the tourism cooperation agreement, signed by Kuwait and Cambodia in 2009.He welcomed Kuwaiti investments in Cambodia’s tourism sector through financing projects for enhancing the infrastructure, besides building resorts, hotels and tourist facilities. Al-Tuwaijri highlighted importance of Cambodia being an attracting tourist destination, visited by three million tourists per year.

The Kuwaiti diplomat conveyed greetings of the Minister of Information to Khon, hoping to continuously boost the bilateral relations, and wishing his country further progress and prosperity. -KUNA

Kuwaiti ambassador to Cambodia Dhrar Nasser Al-Tuwaijri with the Cambodian Minister of Tourism Dr. Thong Khon during a meeting held on Wednesday, May 30, 2012. (KUNA)

Senior Bahraini official praises warm ties with Kuwait MANAMA: Bahrain’s Deputy Prime Minister Sheikh Mohammad Bin Mubarak Al-Khalifa has praised Kuwait’s continuing support for the Kingdom at the political and popular levels.

The deputy premier lauded Kuwait’s unwavering stance during a reception of the Kuwaiti ambassador to the Kingdom, Sheikh Azzam Al-Sabah. He also hailed the brotherly ties and the diplomat for playing a role in boosting these relations.

For his part, Sheikh Azzam affirmed depth of the Bahraini-Kuwaiti ties, namely the close family and cordial bonds. -KUNA

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ALWATAN DAILY

regional

Trial of the century

By Hossam Fathi

A few hours separate us from the historic verdict that Egyptians and the world have been waiting for; On Saturday, the judge will hand down the verdict in the trial of the century that involves former president Hosni Mubarak, his two sons, eight senior officials including the former Minister of Interior, six high ranked police officers, and former intelligence agent and businessman Hussein Salem.

Those detainees never imagined that a day will come when they will have to pay the price for the horrendous crime that they had committed against Egypt and its people. Those detainees have destroyed the past and also the future of Egypt. Youths were forced to leave Egypt in search for better living standards; but some of them drowned in the sea while attempting to escape from the gloomy future awaiting them in Egypt to the prisons of Europe.

If I write about all the crimes that Mubarak and his regime have committed against Egypt and its people for the past 30 years, the verdict would be handed down before I finish listing all the crimes. However, I believe that Mubarak and his gang will be pardoned on humanitarian grounds or because of his advanced age, and this pardon will be granted to him by his student Ahmed Shafiq, who has great potential to become the next president. hossam@alwatan.com.kw Twitter:@hossamfathy66

‘Serious problems’ with human rights in Iraq: UN report

BAGHDAD: Iraq still has “serious problems” in terms of human rights and the situation remains fragile, despite authorities voicing support for addressing shortcomings, a UN report released on Wednesday said.

The document expressed concern over the still-high level of civilian casualties, arbitrary arrests and prolonged detentions, poor conditions at detention facilities, violence against women and girls, widespread poverty and high unemployment.

“This report highlights a number of shortcomings, some of which are of serious concern and need to be urgently addressed by the Iraqi authorities,” said Martin Kobler, the United Nations special envoy to Iraq, in a statement accompanying the report.

“There is no democracy without respect for human rights.” The report noted Iraq had made some progress in improving human rights by finally establishing an independent human rights commission, and deciding to implement UN recommendations on addressing human rights problems.

The UN statement said, however, that “the impact of these measures on the overall human rights situation remained limited.”

The report noted that the “human rights situation in Iraq remains fragile.

While the government has indicated its willingness and commitment to enhancing the respect and protection of the rights of all Iraq’s people, serious problems remain that threaten the gains made in the past few years.”

It said the UN mission in Iraq had “serious concerns about the rule of law and respect for due process and fair trial standards,” and added that “women and children continue to be vulnerable to violence and abuse, not only from terrorism, but also from domestic violence.”

The report concluded: “Crucially, the government of Iraq needs to cultivate an environment where the rights of freedom of assembly, freedom of information and freedom of expression are protected and respected, not only by its own institutions and organs, but by the people of Iraq.”

The UN listed 35 recommendations to strengthen human rights in the country, ranging from ensuring independent inspection of jails to abolishing legal protection for honor killings, as well as tightening laws promoting equality. -AFP

Lebanese PM heads to Turkey over abduction of pilgrims

BEIRUT: Lebanese Prime Minister Najib Mikati is heading to Turkey on Wednesday to follow up on the case of 11 Lebanese Shiite pilgrims kidnapped in Syria, a government source told AFP. “Mikati, commissioned by the cabinet, will travel Wednesday evening to Turkey, in order to communicate directly with the Turkish authorities” on the issue of the pilgrims kidnapped in Syria on May 22, the source said, on condition of anonymity. On Friday, Mikati announced that the pilgrims had entered Turkish territory after they were freed and would soon arrive in Beirut.

They were kidnapped in Syria while on their way home from Iran.

Mikati’s office announced that the prime minister had spoken with Turkish foreign minister who confirmed that the Lebanese men were “well and are on their way to Beirut.” But on Saturday, a Turkish diplomatic source said the pilgrims were not in Turkey at all, adding to the confusion about their whereabouts. “These people are not on Turkish territory. I think there has been some confusion,” the source told AFP on condition of anonymity.

On Sunday, head of opposition coalition the Syrian National Council, Burhan Ghalioun, said the pilgrims were still held in Syria.

“We spoke with some parties who had contacts with the group (of captors) and we offered our assistance to have them freed,” said the outgoing leader of the SNC. No one has claimed responsibility for their abduction and Syria’s armed opposition, the Free Syrian Army, has denied any involvement in the kidnapping. -AFP

THURSDAY, MAY 31, 2012

Troops, rebels clash; 39 killed in Syria

BEIRUT: Fierce fighting erupted on Wednesday between regime troops and rebels near Damascus and in Homs province, a watchdog said, while reporting 39 more people killed across Syria.

The Syrian Observatory for Human Rights said five people were killed in the Damascus suburb of Douma, a hotbed of anti-regime sentiment, while a civilian was shot dead in Daraya, in the same province. Also in Damascus province, government troops opened fire on mourners attending a mass funeral in Al-Diabiya, killing four, said the Britain-based watchdog.

In central Homs province, four people died at Qusayr, scene of earlier explosions, while another five people, including a regular soldier, were killed in the city of Homs, it said. Two people were killed in the region of Hama when fighting took place in the town of Kafarzita between troops and rebels.

Later, in Hama city, residents held a general strike to mourn the deaths of the two men.

In Jabal Al-Zawiya, a rebel commander was killed in northeastern Idlib. A sniper shot dead a man at Aleppo in the north, while unidentified gunmen killed an 18-year-old in eastern Deir El-Zor. A rebel fighter was also killed in the same province, the Observatory added. At least 14 regular troops, the Observatory said, were killed on Wednesday when checkpoints in Idlib and Hama were targeted.

Cold-blooded killing

UN observers said on Wednesday 13 bodies had been discovered bound and shot in eastern Syria, days after a massacre of 108 civilians, nearly half of them children, ignited a world outcry.

Syrian activists said the victims were army defectors killed by Al-Assad’s forces, but it was not possible to verify their accounts.

Outrage at last Friday’s mass killings in the Syrian town of Houla, documented by UN monitors, prompted a host of Western countries to step up pressure on Syria on Tuesday by expelling its senior diplomats, and to press Russia and China to allow tougher action by the UN Security Council.

Wednesday’s observer report underlined how a peace plan drafted by international envoy Kofi Annan has failed to stem bloodshed or bring Syria’s government and opposition to the negotiating table. Major-General Robert Mood, the Norwegian head of the observer

A handout image released by the Syrian opposition’s Shaam News Network on May 29, 2012 shows an anti-regime demonstration in the town of Yebrud. (AFP)

mission, said the corpses had been found with their hands tied behind their backs and signs that some had been shot in the head from close range.

“General Mood is deeply disturbed by this appalling and inexcusable act,” a statement issued by the observer mission said. “He calls on all parties to exercise restraint and end the cycle of violence for the sake of Syria and the Syrian people.”

The UN observers said the 13 dead men had been found on Tuesday evening in Assukar, about 50 kilometers (31 miles) east of the city of Deir El-Zor. Video footage posted by activists shows the bodies face down on the ground, hands tied behind their backs, with dark pools of what could be blood around their heads and torsos. Mood did not apportion any blame for the killings.

UN peacekeeping chief Herve Ladsous said in New York on Tuesday that the Syrian army

and “shabbiha” militiamen supporting Assad were “probably” responsible for massacring 108 people in Houla with artillery, tanks, small arms and knives. Syria denied any responsibility and blamed Islamist “terrorists” - its term for rebel forces.

Trying to save his seven-week-old peace plan from collapse, UN-Arab League envoy Annan told Al-Assad in Damascus on Tuesday that Syria was at a tipping point, but there was no let-up in violence, with more than 100 people killed the same day, according to the Syrian Observatory for Human Rights.

Rights Council meets Friday

Diplomats said the UN Human Rights Council would meet in Geneva on Friday to consider the Houla killings, the fourth such grilling Syria has faced since an anti-Assad revolt erupted in March 2011, inspired by Arab uprisings elsewhere.

Sudan pulled out from Abyei: UN

KHARTOUM: Sudan’s army has withdrawn from the disputed region of Abyei bordering South Sudan, the United Nations confirmed on Wednesday, removing an obstacle to talks between the neighbors to end hostilities.

Sudan said on Tuesday its forces had left the border region, one of the main bones of contention between Khartoum and South Sudan. Sudan seized Abyei a year ago after an attack on a military convoy blamed by the United Nations on southern forces.

The neighbors countries came close to an all-out war last month when border fighting escalated, the worst violence since South Sudan became independent in July under a 2005 agreement that ended decades of civil war.

“The mission confirmed that the pullout was complete late Tuesday evening Abyei time,” UN spokesman Kieran Dwyer said in an emailed statement. South Sudan had already withdrawn its forces from Abyei, which is rich in fertile grazing lands and also has some small oil reserves.

Ethiopian UN peacekeepers are based in Abyei. Sudan’s withdrawal cleared the way for talks sponsored by the African Union to end hostilities between the neighbors which resumed on Tuesday, the first time since fighting escalated last month.

Both delegations met again on

A handout picture released by the United Nations-African Union Mission in Darfur (UNAMID) shows Sudanese girls holding a sign reading “We need water” as they greet a UNAMID delegation in Forog, north Darfur, on May 30, 2012. (AFP)

Wednesday at the AU headquarters in Addis Ababa.

The UN Security Council has called on both sides to resume talks and end fighting or face sanctions.

However, diplomats expect no quick breakthrough as both sides are at loggerheads over a long list of conflicts from marking the disputed border and decid-

ing on the status of Abyei to agreeing on oil export fees for South Sudan.

The landlocked new nation inherited much of Sudan’s oil reserves but needs to agree with Khartoum on an export fee. It shut down its oil production in January to stop Khartoum from taking some oil for what the latter called unpaid export fees. -Reuters

Somali Islamist bastion to fall ‘by August’: Kenyan army

NAIROBI: African Union troops will seize the last key bastion of Somalia’s Al-Qaeda linked Al-Shabaab insurgents within three months, Kenya’s army chief boasted Wednesday, as pressure mounted on the Islamists.

Hard-line Al-Shabaab fighters are now left with the port town of Kismayo as the last major town they control, and have in recent months switched to guerrilla tactics as regional forces wrest territory from them.

“We continue to exert pressure on Al-Shabaab,” said General Julius Karangi, whose troops fighting in southern Somalia have joined the 11,000-strong African Union force in Somalia (AMISOM).

Karangi said the port city - one of the Al-Shahaab’s few remaining sources of income in Somalia - would be taken before the mandate of the weak Western-backed transitional federal government (TFG) ends on August 20. “Kismayo... this target will happen before August when the TFG mandate expires,” Karangi added.

The Al-Shabaab still control large parts of southern Somalia, but AU troops, government forces and Ethiopian soldiers have clawed several key bases from the insurgents in recent months.

Kenya, which invaded southern Somalia in October before joining the AU force, has previously boasted of imminent victories despite its troops having made slow progress against the insurgents.

The Al-Shabaab said Tuesday they had engaged in a fierce exchange of gunfire with foreign warships off the coast of Kismayo that Kenya identified as its vessels.

“Kenya navy vessels received fire from a hostile Al-Shabaab watch tower off the coast of Kismayo... we engaged them and destroyed the watch tower,” said military spokesman Colonel Cyrus Oguna.

“We shall be engaging them off the coast of Kismayo as and when opportunity presents itself.”

However, other reports from Kismayo suggested other foreign naval ves-

sels may also have been patrolling offshore from the port, but these could not be independently verified.

Kenyan boasts of seizing the port follow a large blast on Monday, blamed on the Al-Shabaab or their supporters, that ripped through shops in central Nairobi wounding 38 people.

“We just had a very terrible situation where there was an explosion in the centre of the city, this is of course something carried out by Al Al-Shabaab,” said George Saitoti, Kenya’s security minister.

US forensic experts have been supporting Kenyan police to scour the blast site for clues.

Kenya has suffered a series of attacks in the past several months, which police have also blamed on the Al-Shabaab, including the wounding of four police officers on a night patrol early Wednesday in the eastern border town of Liboi.

“Our officers were ambushed by AlShabaab....these criminals are getting the heat on their side and are now crossing over to Kenya,” Saitoti added. -AFP

“It’s all materializing very quickly. It’s going to have huge support,” said one official. The United States, Qatar, Turkey and the European Union led the push for the session.

Turkey joined other countries including the United States, Britain, France and Germany in expelling Syrian diplomats in protest at the Houla massacre, saying unspecified international “measures” would follow if crimes against humanity continued.

But Iran, itself at odds with the West over its disputed nuclear work, decried foreign criticism of its Arab ally.

Iranian Parliament Speaker Ali Larijani accused US and other Western officials of seeking to “prepare the ground for a new crisis” over Syria, Iran’s Press TV website reported.

“The Majlis (parliament) condemns the opportunistic intervention of certain countries in Syria and the US terrorist measures and unwise warmongering messages,” he said. -Agencies

Mubarak sons face charges over stock market fraud

CAIRO: The two sons of Egypt’s ousted President Hosni Mubarak will face charges of stock market manipulation, the public prosecutor said on Wednesday, three days before a court was due to issue a verdict in a separate trial for their role in alleged corruption. Gamal and Alaa Mubarak are already standing trial with their father in a case in which the former president is facing charges of graft, as well as complicity in the killing of protestors who rose up against him last year. The verdict in that trial is expected on Saturday. Mubarak’s eldest son, Alaa, is a businessman.

His youngest son, Gamal, a former banker, was widely viewed as a being groomed for Egypt’s top job until Mubarak was toppled on Feb. 11, 2011. Both are in their 40s. Mubarak, his family and his aides and associates were accused by protesters of amassing wealth illegally while leaving swathes of the country in poverty.

Egypt’s public prosecutor said in a statement Alaa, Gamal and seven others, were referred to the criminal court on charges of violating stock market and central bank rules to gain unlawful profits through dealings in shares in Al Watany Bank of Egypt, a listed bank. All those accused in the case were released on bail and barred from travel, except Gamal and Alaa, who were ordered to remain in detention and had their assets frozen pending the trial.The public prosecutor’s statement said that others referred to trial alongside Mubarak’s sons included Yasser El Mallawany and Hassan Heikal, board members and joint chief executives officers of Egyptian investment bank EFG-Hermes. The trial of Mubarak, 84, and his two sons began on Aug. 3. It is the first time that an Arab head of state, ousted in a popular uprising, has appeared for trial in an ordinary court. Tunisia’s ousted president was tried in absentia while Iraq’s toppled Saddam Hussein stood trial in a special court. -Reuters

EU says alarmed by rise in death sentences in Iran

BRUSSELS: The European Union criticized Iran on Wednesday for an “alarming” increase in the use of the death penalty this year, calling on Tehran to introduce a moratorium on executions. “According to the latest data, compiled from a number of sources, the rate of executions in Iran during the first 5 months of 2012 confirmed the country as one of the world’s leading users of the death penalty,” a spokesman for the EU’s foreign policy chief said. EU foreign policy chief Catherine Ashton is “deeply concerned by the alarming increase”, the spokesman said. Ashton is leading negotiations between six global powers and Iran over the Islamic Republic’s nuclear program, hoping to resolve a decade-long dispute over international suspicions that Tehran seeks the means to make atom bombs. Tehran denies this. A round of talks in Baghdad last week produced scant results but the powers - United States, Russia, China, Germany, France and Britain - are due to meet Iranian negotiators again in Moscow on June 18-19. Tehran has repeatedly faced accusations of human rights abuses related to its high rate of use of the death penalty. “It’s not clear why this is happening now and might just be a coincidence.Whatever the reason may be, it’s a convenient time to step up executions when the rest of the world is focusing on the nuclear talks,” a Tehran-based diplomat said. In May, Iranian media said 15 people were hanged - 14 who faced charges of drug trafficking and a man said by Tehran to be an agent of the Israeli intelligence agency Mossad. The EU has imposed sanctions on Iranian officials who it says play a prominent role in serious human rights violations, targeting them with travel bans and asset freezes. Such measures are in addition to a broad range of economic sanctions the EU has introduced to press the Islamic Republic to abandon its contested nuclear activity. -Reuters

ALWATAN DAILY

WORLD

thursdAY, may 31, 2012

Poland seeks apology for Obama Holocaust comments WARSAW: Poland demanded an apology fromWashington after President Barack Obama spoke of a “Polish death camp” while announcing an award to a Polish resistance fighter for alerting the world to the Nazi Holocaust, largely perpetrated on Polish soil.

The matter is a delicate one in Poland, which suffered a brutal Nazi occupation during World War Two and has long campaigned against suggestions it bore any responsibility for the slaughter of some 6 million European Jews.

“The White House will apologize for the outrageous mistake,” Foreign Minister Radoslaw Sikorski wrote on his Twitter account on Tuesday night. “It’s a pity that ignorance and incompetence overshadowed such a momentous ceremony.”

On Wednesday, Sikorski added he did not suspect Obama of ill will and blamed the “grave mistake” on the White House’s speech writers and press service.

US National Security Council spokesman Tommy Vietor said: “The president misspoke he was referring to Nazi death camps in Poland.

We regret this misstatement, which should not detract from the clear intention to honor Karski and those brave citizens who stood on the side of human dignity in the face of tyranny.”

After the ceremony in Washington, Po-

land’s Prime Minister Donald Tusk demanded immediate clarification from Sikorski and the US ambassador to Warsaw.

Tusk is due to speak on the matter later on Wednesday after critical media reports on Obama’s comments filled Polish media.

The posthumous award for Jan Karski was to honor him for bringing some of the first eyewitness testimony of the Holocaust to the outside world, after he was smuggled into the Warsaw Ghetto and a Nazi camp.

Karski travelled to London,Washington and elsewhere urging action to prevent the mass extermination of Jews.

Israel’s Yad Vashem institute has awarded Karski the Righteous Among the Nations title for his efforts to aid Jews, and to more than 6,300 other Poles - more than any other nationality, despite the fact that Poland’s history is littered with anti-Semitism.

Some 3.3 million Jews lived in Poland before 1939. Most perished during World War Two, among nearly 6 million Polish deaths in total. A museum dedicated to the history of Polish Jews is now under construction in the capital Warsaw.

“We should use this huge gaffe to make sure nobody, nowhere in the world, ever says that again,” said Lech Walesa, Poland’s sole Nobel Peace Prize winner. -AP

Indian PM dismisses fresh attacks over graft

Indian Prime Minister Manmohan Singh denounces fresh allegations that he turned a blind eye to corruption within his government and vows to resign if any wrongdoing is proved against him. (AFP)

NEW DELHI: Indian Prime Minister Manmohan Singh has denounced fresh allegations that he turned a blind eye to corruption within his government and has vowed to resign if any wrongdoing is proved against him. Singh reacted angrily to accusations from the anti-corruption movement headed by veteran campaigner Anna Hazare, which prepared a list of graft charges against 15 ministers including the premier. “If there is even an iota of truth in it, then I will give up my public career and the country can give me any punishment,” Singh told reporters late Tuesday on his airplane back to New Delhi from Myanmar.

Singh, a media-shy academic who came to power in 2004, previously enjoyed a blemish-free reputation within India’s turbulent political world but his administration has been hit by a series of corruption scandals in recent years.

“You don’t need to take bribes yourself in order to be guilty of corruption offences,” Prashant Bhushan, a prominent member of Hazare’s anti-graft movement told the CNN-IBN news channel on Tuesday evening. “We do not believe that the prime minister takes bribes himself but it is also clear to us that he is allowing a thoroughly corrupt cabinet to be in place... and allowing his cabinet ministers to loot the public exchequer.”

The latest accusations raised by Hazare’s supporters focus on coal deposits that were given away by the government rather than sold at auction. The allegations come as the government struggles to limit damage from the “2G scam” in which the then telecoms minister A. Raja is accused of handing out second-generation mobile phone licenses to select firms at knock-down prices.

“This is precisely what the prime minister appears to have done prima facie in the allocations of these coal blocks,” Bhushan, a high-profile Delhi lawyer, said. Graft has become a hot political issue in India due to a string of high-profile scandals including the “2G scam” and contracts awarded for the 2010 Commonwealth Games. Anna Hazare galvanized millions of people last year when he held a 12-day anti-corruption hunger strike in New Delhi that triggered huge rallies of support across the country. Many Indians complain that corruption is a part of daily life and occurs in all transactions, from getting a driving license to property sales. Graft is also seen as a major deterrent to international investment in India. -AFP

Rescuers comb rubble for Italian quake survivors

Calls to end detention of children in Australia

President Barack Obama awards the Medal of Freedom to former Polish Foreign Minister Adam Daniel Rotfeld who is accepting for Jan Karski, a resistance fighter against the Nazi occupation of Poland during World War II, during a ceremony in the East Room of the White House in Washington, May 29. (AP)

Myanmar opposition leader Aung San Suu Kyi (top left) addresses supporters from the Myanmar migrant workers community center in Samut Sakhon on the outskirts of Bangkok on May 30. (AFP)

some of the hundreds of thousands of Myanmar migrants, who work in low paid jobs in Thai homes, factories and fishing boats, shines a global spotlight on a group that has long been marginalized and prone to exploitation.

NEWS IN BRIEF

ROME: Thousands of people huddled out of doors in northeastern Italy after the region’s second killer earthquake in less than two weeks and officials warned of more aftershocks. Tuesday’s quake killed at least 16 people and injured 200 just nine days after another temblor killed six people and left thousands homeless. Residents in cities including Pisa and Venice rushed into the streets in panic when the quake struck 60 kilometers (40 miles) east of Parma at 0700 GMT on Tuesday. -AFP

Cheering Myanmar migrants await Suu Kyi in Thailand SAMUT SAKHON: Democracy leader Aung San Suu Kyi kicked off her historic first trip overseas in more than two decades with a visit to meet Myanmar migrant workers in Thailand on Wednesday.

Democracy leader Aung San Suu Kyi kicked off her historic first trip overseas in more than two decades with a visit to meet Myanmar migrant workers in Thailand on Wednesday.

Hundreds of people packed a narrow street in Samut Sakhon province south of Bangkok, where the opposition leader, who has ventured abroad for the first time since 1988, was due to address them.

Cheering Myanmar migrants held up banners with Suu Kyi’s picture and signs in Burmese and English that read “Free Burma” - referring to the country’s former name - and “We want to go home”.

“I am very happy and I want to cry. I feel that we will get democracy in Myanmar,” said Phyu, who has been in Thailand for six years.

Suu Kyi’s foray onto the world stage is a significant indication of confidence in dramatic changes that have swept her homeland since a near 50-year military dictatorship was replaced with a quasi-civilian regime last year.

The former political prisoner, who won a seat in parliament in historic April by-elections, is expected to meet the Thai prime minister and attend the World Economic Forum on East Asia during several days in the country.

Her decision to begin the trip by meeting

5

Thailand’s workforce is heavily reliant on low-cost foreign workers, both legal and trafficked, with Myanmar nationals accounting for around 80 percent of the two million registered foreign workers in the kingdom.

Migrants in the crowd said they hoped Suu Kyi’s visit would help improve their lot in Thailand.

“It would be great if she could do more for us.We want to get the same wages as Thai workers and I hope she can arrange this for us,” said Kyi Lwin, a 33-year-old factory worker.

But others said their sights are set on a return to Myanmar.

“Most of the workers here want to go back home but we can’t afford that. There are no jobs back there and it’s difficult to eat, difficult to live,” said Aung Htun, 28, a rice mill worker.

Migrant rights activist Andy Hall, who is helping to organize the visit, said Suu Kyi would meet Myanmar nationals with an array of experiences - from those trafficked and sold into modern day slavery on Thai fishing boats, to those able to make money and settle down with their families.

Pavin Chachavalpongpun, of the Centre for Southeast Asian Studies at Japan’s Kyoto University, said the veteran activist was looking to “reconnect her lost connection with those who live outside the country”.

“There are a lot of Burmese exiles in Thailand, Burmese dissidents and immigrant workers, that is why she chose to go there,” he said.

Suu Kyi’s ventures overseas, which also include a European tour in June, are seen as the completion of her transformation from prisoner to global politician. -AFP

Pakistan doctor guilty of militancy, not CIA links PESHAWAR: A Pakistan doctor who assisted the CIA in tracking down Osama bin Laden was sentenced to 33 years in prison for conspiring with an Islamist militant commander, a verdict that will make it more difficult for Washington to argue for his release.

The judgment against Shakil Afridi debunked the widely held assumption that he had been convicted for his involvement with the American spy agency.

The decision referred to unspecified evidence that Afridi had “acted” with foreign intelligence agencies, but went on to say any charges related to that couldn’t be considered because the court didn’t have jurisdiction. The Associated Press obtained a copy of the five-page document, first reported by Pakistan’s Dawn newspaper, on Wednesday.

Earlier this week, Afridi’s family and lawyers said he was innocent and would appeal. They said they had not yet seen the court verdict and refused to comment on his relations with the CIA. The trial was carried out in a court in the country’s tribal regions close to Afghanistan. A political official, in consultation with tribal elders, ruled on the case in secret.

The United States has called for Pakistan to release Afridi, and his punishment has become another flashpoint issue in the fractured relations between the two countries. Pakistan’s army was outraged by the unilateral US raid that killed bin Laden in May 2011 because it was a violation of the country’s sovereignty and added to perceptions it was a sponsor of terror.

Afridi ran a vaccination campaign on behalf of the CIA to collect blood samples

from bin Laden’s family at a compound in Abbottabad where U.S. commandos killed the al-Qaida leader. It was unclear whether he succeeded, but US officials have publicly said he helped the effort to track bin Laden.

The fact Afridi was technically convicted for militancy, not helping the CIA, could complicate Washington’s efforts to press for his release. Pakistan could argue that his trial was an internal matter that has nothing to do with the United States.

The verdict said Afridi was guilty of conspiring with a militant group led by commander Mangal Bagh. It said he gave money to the group and treated its leaders at a hospital in Khyber when he was stationed there. According to unnamed wit-

nesses, he did this because of his “deep affiliation with the group.” Others, also unnamed, said the group planned terrorist attacks in Afridi’s office.

The verdict, which was passed down last week, found Afridi guilty of “conspiring against the state” and other charges.

Pakistani officials didn’t attempt to correct widespread reports that the charges referred to his work with the CIA. The verdict triggered anger in the United States and elsewhere, with many questioning how helping kill bin Laden - a sworn enemy of Pakistan - could be seen as working against the state.

The full text of the verdict means Pakistan can now, technically at least, deflect that criticism. -AFP

Jamil Afridi, (right), brother of a Pakistani doctor Shakil Afridi speaks at a news conference in Peshawar, Pakistan. (AP)

Nepal’s opposition vows protests to topple PM KATHMANDU: Nepal’s opposition parties said they will team up to topple the government, as they accused the prime minister Wednesday of having no moral or legal grounds to stay in power ahead of new elections.

Prime Minister Baburam Bhattarai’s opponents say he lost his legitimacy Sunday when the term of the country’s Constituent Assembly expired without agreement on a new constitution. Bhattarai has said he will lead a caretaker government until another assembly is picked in elections he called for November.

The leader of the Nepali Congress party, Arjun Narsingh, said his and 14 other parties have agreed to hold rallies and street protests aimed at pressuring Bhattarai to resign.

“We are not against elections, but we don’t want Baburam Bhattarai to conduct the elections,” Narsingh said. “We are demanding a new government that would have representation from all major political parties to ensure that the polls are free and fair.”

Writing the new constitution was supposed to cap an

CANBERRA: To mark 20 years of mandatory detention for asylum seekers in Australia, an international campaign has been launched to end the imprisonment of children. Australia is the only first world country with a policy of mandatory indefinite detention for asylum seekers who arrive by boat. Up to 4,000 people are held under this policy. Campaigners say locking children up in prison is unnecessary, unethical and harmful. -AFP

Ex-Cameron aide arrested over alleged perjury LONDON: Police say the ex-top media adviser to Prime Minister David Cameron has been arrested on suspicion of perjury the latest case tied to allegations of wrongdoing by British tabloid newspapers. Scottish police said on Wednesday that Andy Coulson, a former editor of the now-defunct News of The World tabloid, was detained at his home in London over an accusation of committing perjury at a case at the High Court in Glasgow. Coulson quit as Cameron’s communications director in 2011 amid revelations over phone hacking at his former newspaper. -AFP

PNG parliament attempts to end political crisis PORT MORESBY: Papua New Guinea’s parliament endorsed on Wednesday Peter O’Neill as prime minister for the third time in a bid to resolve a long-running crisis over the leadership of the resource-rich South Pacific nation.

However, a PNG expert said the vote for O’Neill was probably illegal as parliament had already been suspended and writs have been issued for national elections in June.

At a special sitting, O’Neill was elected unopposed as prime minister by 56 of the 109 members of parliament. Prime ministerial rival Michael Somare and his supporters boycotted the vote.

But Australian National University professor Ron May said the parliamentary gathering had no legal standing.

“The parliamentary meeting today was a bit of a circus,” May told Australian television. “The writs for the election have been issued, the parliament has been prorogued, so a meeting of the parliament has no standing.”

PNG, an often volatile nation of about 6.5 million people, has been through a prolonged period of political uncertainty.

O’Neill and Somare, a former prime minister, have been jostling for power since last August 2011, when Somare was ruled ineligible to be a member of parliament after a prolonged absence from legislature because of illness.

O’Neill has the clear support of parliament but the Supreme Court has twice ruled that Somare was eligible to sit in parliament and that he remains the legitimate prime minister. The issue reached a flashpoint on May 24, when police arrested the chief justice and charged him with sedition over a judgment in favor of Somare. A second judge was charged with sedition on Monday. Adding to the confusion over O’Neill’s appointment, Governor-General Michael Ogio left the country on Monday to attend celebrations in London for Queen Elizabeth’s 60 years on the throne, leaving it to an acting head of state to swear O’Neill back into office. -AP

interim period aimed at solidifying details of Nepal’s democracy after the country turned the page on centuries of royal rule and resolved a decade-long Maoist insurgency by bringing the former combatants into the political mainstream.

The assembly was elected in 2008 under a two-year term that was renewed four times as parties bickered over the details of a constitution, including whether the country’s states should be drawn to give regional power bases to ethnic minorities. -AP

6

ALWATAN DAILY

OPINION

thursDAY, may 31, 2012

The great debate over electoral constituencies Shamlan Yousef Al-Esa

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ith speculations rising at an alarming rate over the probable dissolution of the National Assembly anytime soon, the prickly issue of the number of electoral constituencies has resurfaced once again much to the discernment of some people while several other prominent personalities are literally pushing for a reconsideration of the number of constituencies in the event that citizens across the country head to the polls to elect a new batch of representatives.

Speaking on the issue, MP Saleh Ashour recently averred that the current number of constituencies should be changed as is evident in the fact that having five constituencies in the past had contributed to an alarming rise in factionalism, sectarianism and tribalism. Informed sources also disclosed that members of the Majority Bloc are conducting extensive negotiations in order to reach a unanimous point of view over the possibility of assigning just one electoral constituency according to a recent report that was published by Al-Anba newspaper. Earlier, Al-Nahar newspaper had also published a news report suggesting that the government intended to increase the electoral constituencies to ten on a trial basis.

Now the question that a lot of people have in mind at this current point of time is: “Why would certain MPs insist on invoking the issue of electoral constituencies especially at this point of time?” Is it because several per-

Our shortcomings certainly do not lie in the electoral system or in the number of electoral constituencies; but lie within the parameters of our society itself. sonalities have already indicated that there is every possibility of the National Assembly being dissolved much sooner than later or is it because the five-constituency system has finally proved to be disastrous?” And although there can be no doubt in one’s mind that the five-constituency system has surely failed to tackle factional, sectarian and tribal affiliations, how can they be absolutely certain that by dividing the country into 5, 10 or 25 constituencies they will be able to eradicate those affiliations!

It is high time that we at least attempt to be frank and honest with ourselves and accept the underlying fact that our shortcomings certainly do not lie in the system or the number of electoral constituencies but lies within the parameters of our society wherein factional, sectarian and tribal affiliations are rooted deep in our minds. This is an alarming factor since we have been unable to eradicate those negative affiliations despite being fully aware of the fact that citizens within the society have been practicing democracy for over 50 years.

The other question that surely deserves a

mention is: “What are the actual reasons that are responsible for our failure in eradicating the scourge of factionalism, sectarianism and tribalism?” We have to ensure that by holding free and fair elections we do not encourage the scourge of affiliations towards any given personality or party.

We should draw positive parallels from liberal minded citizens in countries in Europe and the West since they have successfully eradicated the scourge of affiliations by pledging and restricting their loyalties to their respective countries and not to any given political party, movement or group.

On the other hand, most of the backward countries in the region have been witnessing a kind of a positive trend in which political movements (over the last century) have inclined towards a Left and Nasiri kind of an orientation which is almost a liberal kind of an orientation in more ways than one. These movements have also contributed positively towards enhancing the dealers’ statuses prompting their respective regimes to naturalize the sons of various tribes in huge numbers.

In the underlying process, the demographics also started changing to an extent that members of those very tribes began to encourage the influential members of their respective tribes to represent them due to a conspicuous absence of political movements that usually focused on various national interests.

This is the main reason why it is almost impossible to eradicate the scourge of factionalism, sectarianism and tribalism now because they actually offer tremendous services to a great number of members of various sects and tribes. The government, on the other hand, has also contributed towards complicating this issue even further because it failed to endorse effective and rational policies in terms of employment and upgrading and promoting employees in accordance to their educational qualifications and professional experiences.

The government is solely to blame for this specific shortcoming simply because it resorted to tilting towards personal loyalties instead of judging and evaluating employees on the basis of their overall performance, job handling capabilities, dedication and work input.

The current situation can never be changed for the better by just changing the number of electoral constituencies mainly because the government did absolutely nothing to support the concept of citizenship and national loyalty.

Pledging one’s loyalty to the country does not simply come from singing national anthems and verbally expressions. Loyalty is expressed through strictly abiding by the laws enshrined in the Constitution and respecting the virtues of equality and fraternity; combined with a sense of nationalism.

The government has also definitely failed in its attempts to imbibe a sense of national fervor in the hearts and minds of citizens and instead embarked on a wild spending spree through actually showering them with financial windfalls in the form of bonuses, grants and a plethora of freebies that they definitely did not deserve. It has, and still is, actually encouraging citizens to be totally dependent on the state for anything and everything prompted by the fact that the country is a welfare state and hence; guarantees citizens a host of privileges right from the cradle to the grave.

This has got to stop if the government is really serious about the nation’s financial coffers simply because if it doesn’t, those funds will slowly but surely deplete to such levels that our future generations will have absolutely nothing to bank on.

It is still not too late to revert the situation unless we are stubbornly adamant over looking forward to a bleak future.

Negative implications of the Dow deal Nawaf Suliman Al-Fuzai

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henever I discuss the negative implications of the K-Dow deal, I usually try to explain the debacle in a very simple manner; not because I do not have adequate knowledge about it but in order to enable most of the people to be aware of and understand those implications. It is also understandable that most of the ordinary citizens would not want to bother or concern themselves with the technical, legal or economic aspects of the deal simply because they are fully aware of the fact that they do not, in any way, stand to gain from that deal. All that they are interested in knowing is; where the money that belongs to the general public was diverted to.

Most of the citizens in Kuwait are fully aware of the fact that a vicious campaign was launched against me by all those who benefited from the Dow deal; especially by those that were affiliated to the Popular Action Bloc. A famous English journalist in late 20th century once said that the main victim in any war is the truth itself. Soon after I had refuted all allegations over the Dow shares and the Saudi contract, another blatant lie is now being circulated around with regards to providing job opportunities for Kuwaiti citizens. I wonder what job opportunities they are talking about? Are they going to provide job opportunities for Kuwaitis in Germany or Switzerland?! Hundreds of defunct factories that have been scrapped can be seen scattered all over Europe. Are the Kuwaitis going to work in those plants?

They are trying to give us the impression that the Dow contract was actually signed to build plants in Kuwait but this is definitely not true.

I challenge anyone to frankly state the fact that those factories were actually meant to be constructed in Kuwait in strict compliance with the

signed contract. The other lie came to light when the court ruled that Kuwait would have to bear the consequences of scrapping the deal and imposed a staggering fine. All those who state otherwise are simply misleading the public and at the same time do not know anything about the law. The arbitration ruling is not binding. Even if they considered filing a case before the British courts in accordance with the arbitration, the case would have to be filed against the concerned petrochemical company which does not own any assets abroad apart for a scattering of plants which have incurred heavy losses in Italy and other countries.

If we go back in time, Kuwait Airways Corporation (KAC) had filed a case against Iraqi Airways before the British courts where a verdict was issued to seize the assets of Iraqi Airways.

Had a case been filed against the Dow Company, a verdict could possibly be ruled to seize the assets of the company. But I doubt that a British court will ever bring itself to issue such a ruling while in Kuwait, the Kuwaiti courts can scrap the arbitration verdict if it is found to be unconvincing. I’d also like to inform His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad AlSabah that the concerned minister had promised to tender his resignation over the issue while at the same time he is busy arranging a meeting between you and the president of the Dow Company.

Does the said minister actually expect you to believe the nonsense and pay 2.16 billion US dollars in fines just to maintain friendly relations with that company? They had also said that a translation of the contract would be released soon but even that has yet to see the light of day.

There is no such translation or even an outlined budget for any of those factories that we were expected to buy.

Ali Farzat

The social ills of media propaganda Fuad Al-Hashem

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n a recent development that took the country by storm, MP Nabeel Al-Fadhl exposed the evil intentions and lies that were conjured by MP Jamaan Al-Harbash who went on a wild spree distributing some fabricated and superimposed pictures of atrocities being committed by the Syrian regime on its people to draw the attention and sympathy of Kuwaiti citizens. His actual intent was to amass a fortune through playing on the generous sentiments of the Kuwaiti people by sending out appeals to them to donate generously in attempts to ease the pain and suffering of the Syrian people.

Taking all things into consideration, I am personally not surprised at the development for two simple reasons: First and foremost MP Jamaan Al-Harbash and members of his bloc are remotely distant from being described as “reliable” and “genuine.” Their concept and definition of the word “truth” is definitely not related to the standard definition and explanation of the word in the English dictionary.

Secondly, members of the Syrian Revolutionary Council have been actually distributing disturbing and gory pictures of fake causalities in desperate attempts to play with the sentiments of peoples across the world by presenting them as true casualties of war. It is these pictures that are now being telecast on satellite channels such as Al-Jazeera, Al-Arabiya and the Orient apart from a host of many other

satellite channels.

On the other hand, the dim-witted Syrian President Bashar Al-Assad is outrageously resorting to a media propaganda warfare as is clearly evident in his typical pattern of butchering civilians and then bringing in one of his cronies to introduce himself on TV as one of the revolutionaries who was responsible for all those massacres of innocent men, women and children when in reality he is the one who masterminded the entire operation. One can surely understand why some of those revolutionaries have been resorting to such media propaganda. To put it quite simply, they are simply desperate and frustrated and hence; are willing to do anything to highlight the horrendous plight of their people and the tragic and catastrophic circumstances that they are being subjected to.

I definitely sympathize with them simply because their intentions are indeed honorable. They are resorting to such desperate measures like publishing pictures that are doctored in desperate attempts to highlight the plight of the people to peoples in countries across the world and draw their attention to the atrocities being heaped upon them.

Looking at the gravity of the situation, it seems like the citizens are so desperate that they are even willing to take up arms that are donated to them by other countries to resist the atrocities that are being heaped upon them by their president Bashar Al-Assad, his brother Maher and their cousin Rami Makhlouf who are adamant on annihilating

the people. I am certain that any man worth his salt would resort to the same in the event that the lives of their loved ones are in danger.

On the other hand, it is indeed paradoxical that the regime is going full steam ahead in massacring the people with arms and ammunition while at the same time; using the media extensively to mislead the general public and influence world opinion. Bearing this in mind the Syrian people have every right to turn the tables on the regime by using the same tactics that the regime is using against them.

Now, although the Syrian people’s ways and means of getting even with their regime is all too understandable and justified, how can MP Jamaan Al-Harbash justify his own ways and means of resorting to such lowly tactics of distorting the entire picture to seek and realize his own vested interests? It is common knowledge that MP Jamaan Al-Harbash and his associates are affluent enough and hence; are really not all that desperate to replenish their bank accounts. They are known to be extremely rich and lead luxurious lives. Moreover, since it is evidently clear that the MP is surely not suffering from the atrocities that are being unleashed by the Syrian regime on its citizens; it would be a real mystery if he chooses to go down that dangerous road.

The only message that I wish to pass on to the MP and his cronies is that there is a negative human trait called

shame and they should be well aware of its consequences and beware of the resultant repercussions. It is also worth mentioning at this point of time that the Syrian government launched a severe attack on the former French president Nicolas Sarkozy soon after he lost the election and applauded and congratulated the new president. And to the shock and dismay of the Syrian government, the new French president expelled the Syrian ambassador and other representatives the minute he assumed office as the new president; prompting similar expulsions from a number of other European countries. I honestly believe that the Syrian regime should tender its unconditional apologies to Sarkozy for not taking the initiative to expel Syrian diplomats while he was still in office.

Dwelling on another issue, let us now focus on a recent statement that was issued by the Egyptian presidential candidate Mohammed Mursi who happens to be the second in command of the Muslim Brotherhood Movement in Egypt and representative of the Justice Party. Mursi promised the former US president Jimmy Carter that alcohol would continue to be served and consumed freely in Egypt even if he is elected as the country’s president. He also added that night clubs, gambling casinos as well as belly dancing would continue to flourish unabated. This is the way a society should be permitted to exist although it would be preferable if such activities are carried out discretely and behind closed doors.

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views

thursDAY, may 31, 2012

7

Asia exposed Rebalancing is the only way out for China and its partners in the Asian supply chain. Until that occurs, the vice now gripping Asia will only continue to tighten.

Stephen S. Roach Project Syndicate

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sian authorities were understandably smug in the aftermath of the financial crisis of 2008-2009. Growth in the region slowed sharply, as might be expected of export-led economies confronted with the sharpest collapse in global trade since the 1930s. But, with the notable exception of Japan, which suffered its deepest recession of the modern era, Asia came through an extraordinarily tough period in excellent shape. That was then. For the second time in less than four years,Asia is being hit with a major external demand shock. This time it is from Europe, where a raging sovereign-debt crisis threatens to turn a mild recession into something far worse: a possible Greek exit from the euro, which could trigger contagion across the eurozone. This is a big deal for Asia.

Financial and trade linkages make Asia highly vulnerable to Europe’s malaise. Owing to the former, the risks to Asia from a European banking crisis cannot be taken lightly. Lacking well-developed capital markets as an alternative source of credit, bank-funding channels are especially vital in Asia. Indeed, the Asian Development Bank estimates that European banks fund about 9 percent of total domestic credit in developing Asia - three times the share of financing provided by banks based in the United States.

The role of European banks is especially significant in Singapore and Hong Kong - the region’s two major financial centers. That means that Asia is far more exposed to an offshore banking crisis today than it was in the aftermath of Lehman Brothers’ collapse in 2008, which led to a near-meltdown of the US banking system. The transmission effects through trade linkages are just as worrying.

Historically, the US was modern Asia’s largest source of external demand. But that appears to have changed over the past decade. Seduced by China’s spectacular growth, the region shifted from US to China-centric export growth.

That seemed like a good move. Combined shipments to the US and Europe fell to 24 percent of developing Asia’s total exports in 2010

A woman speaks on a mobile phone at a cafe in Beijing on May 28, 2012. China’s government on May 25 stressed the need to make growth a priority as it warned that the world’s number two economy faces “increasing downward pressure”. (AFP)

- down sharply from 34 percent in 1998-1999.

Meanwhile, over the same period, Asia’s dependence on intraregional exports - trade flows within the region - expanded sharply, from 36 percent of total exports in 1998 to 44 percent in 2010. These numbers seem to paint a comforting picture of an increasingly autonomous Asia that can better withstand the blows from the West’s recurring crises. But research by the International Monetary Fund shows that, beneath the veneer, 60-65 percent of all trade flows in the region can be classified as “intermediate goods” - components that are made in countries like Korea and Taiwan, assembled in China, and ultimately shipped out as finished goods to the West.

With Europe and the US still accounting

for the largest shares of China’s end-market exports, there can be no escaping the tight linkages of Asia’s China-centric supply chain to the ups and downs of demand in the major developed economies. Moreover, there is an important and worrisome twist to those linkages: China itself has tilted increasingly toward Europe as its major source of external demand.

In 2007, the European Union surpassed the US as China’s largest export market. By 2010, the EU accounted for 20 percent of total Chinese exports, while the US share was just 18 percent.

In other words, a China-centric Asian supply chain has made a big bet on the grand European experiment - a bet that now appears to be backfiring. Indeed, in China, a now-familiar

pattern is playing out yet again - another slowdown in domestic growth stemming from a crisis in the advanced economies of the West.

And, as goes China, so will go the rest of an increasingly integrated Asia.

The good news is that, so far, the downside has been much better contained than was the case in late 2008 and early 2009. Back then, Chinese exports went from boom to bust in just seven months - from 26 percent annual growth in July 2008 to a 27 percent decline in February 2009.

This time, the annual export gain has slowed from 20 percent in 2011 to 5 percent in April 2012 - a significant deceleration, to be sure, but one that stops well short of the previous outright collapse. That could change in the

Greece-proofing China Yu Yongding Project Syndicate

D

espite repeated assurances by European Union leaders, after more than two years, there is still no light at the end of Europe’s debt-crisis tunnel. Recently, the President of the European Commission, José Manuel Barroso, referring to a possible Greek exit from the eurozone, told the European Parliament that there is no “Plan B.” Barroso’s statement was meant to be reassuring. But, after so many disappointments, China cannot accept at face value the assurances of European politicians, which even they themselves do not know whether they can redeem. China should have its own Plan B in case Greece has to leave the eurozone.

Indeed, it is increasingly likely that Greece will renege on its bailout obligations. If that happens and the “troika” (the European Commission, the European Central Bank, and the International Monetary Fund) cuts off financial support, Greece’s exit from the euro will become all but inevitable.

In that event, China must be prepared for any ensuing global financial turmoil and longer-term consequences. For starters, Chinese officials should be under no illusion that the country will be immune to financial contagion. A

A file picture taken on Dec. 10, 2009 shows people walking past the headquarters of the National Bank of Greece in Athens. The four biggest Greek banks received 18 billion euros (22.6 billion USD) in rescue funds on May 28, 2012 to help reinforce their capital bases. China, on the other hand, should have its own Plan B in case Greece has to leave the euro zone, analysts said. (AFP)

“Grexit” would hit European banks that hold peripheral eurozone countries’ sovereign bonds. Shock waves from the deleveraging would, in turn, spread to emerging markets like China.

Although the exposure of Chinese banks and financial institutions to eurozone sovereign and banking-sector assets is negligible, post-Grexit capital flight from risky markets could rival, or even surpass, that in the weeks following Lehman Brothers’ collapse in September 2008. Compared to 2007 and 2008, foreign investors’ holdings in emerging markets are much higher, owing to these countries’ relative economic strength in recent years and rock-bottom returns on developed-market financial assets.

In fact, China already experienced the impact of deleveraging late last year, when the European financial system seemed on the brink of collapse.

With European banks hunkering down, the renminbi’s exchange rate fell for 11 consecutive days, even though China was running a current-account surplus. The performance of emerging-market currencies and other assets so far in the second quarter suggests that deleveraging has begun once again.

Disappointing first-quarter growth data have already led foreign investors to have second thoughts about keeping money in China. A Grexit could prove to be the last straw, and would surely lead to a tightening in domestic monetary conditions at a very precarious point in the economic cycle.

As such, the timing could not be worse to float the idea of speeding up capital-account liberalization. On the contrary, the Peoples Bank of China (PBoC) and other relevant authorities should consider capital controls, market suspensions, and emergency liquidity provision. These measures are not dissimilar to those that the eurozone will pursue if Greece exits. Ideally, the response would be coordinated with China’s international partners in the G-20. The infrastructure for such cooperation has developed strongly since 2008, and China must not shy away from advocating its deployment.

Moreover, China must have a medium-term plan to deal with the economic aftermath of a Grexit. Should contagion prove to be limited, with Greece the only casualty, the drop in eurozone output may be severe, but not catastrophic. Nonetheless, the EU is China’s most important trading partner, and China must be braced for serious job losses in the export sector. Japan’s experience shows that a recession that results from a financial crisis can be extremely prolonged, because deleveraging is a long process.

It is highly likely that today’s recession will drag on for many more years in both America and the EU. So China’s government must have a medium- and long-term plan to address problems caused by a drawn-out global slump.

The problems include a surge in unemployment, and the need to reallocate fiscal resources to these individuals, whose welfare is critical to the preservation of social stability. More importantly, the Chinese government should not retreat from efforts to implement structural reforms aimed at shifting China’s growth model to one that places much greater emphasis on domestic demand. In addition, net foreign capital inflows are likely to dwindle for several quarters at least, affecting domestic monetary conditions while aggregate demand is weak. As such, the PBoC will need to maintain counter-cyclical policies in order to avoid a deflationary spiral.

Although bound to be controversial, especially in an election year in the United States, enough flexibility should be given to the renminbi in both directions when it is needed. One of the biggest failures of the eurozone periphery is a loss in competitiveness, hidden by a wall of credit that has been leveraged from Germany’s balance sheet. This is always unsustainable.

Any loosening by the PBoC should not be used to avoid painful structural reforms.

Finally, China should be ready to extend a helping hand. To ensure that the post-Grexit eurozone’s integrity faces no further immediate threats, China must join international partners in establishing a fully credible firewall, via the IMF. However, the eurozone, and Germany in particular, must fully acknowledge the fundamental causes of Greece’s exit and pledge to move towards fiscal union, while acknowledging that an austerity-only approach towards other at-risk members is a dead end.

An adequate firewall and a European commitment to structural reform would go far toward calming markets and reducing the risks to any Chinese contribution. In other words, any assistance that China provides must be “throwing good money after good potential results.” Of course, IMF governance reform will also need to be part of the discussion. Meanwhile, the eurozone will likely be more open to foreign investment out of necessity, and cash-rich Chinese companies should continue to pursue opportunities via FDI or corporate acquisitions.

A potential Grexit will present entirely new challenges to China in the coming months, and the country must avoid complacency over its own exposure. A battle plan for both the present and the future is needed now. * Yu Yongding is a former member of the monetary policy committee of the Peoples’ Bank of China and former Director of the Chinese Academy of Sciences Institute of World Economics and Politics.

event of a disorderly euro breakup, but, barring that outcome, there is reason to be more sanguine this time around. The bad news is that Asia seems to be learning little from repeated external demand shocks. In the end, internal demand is the only effective defense against external vulnerability. Yet the region has failed to construct that firewall.

On the contrary, private consumption fell to a record-low 45 percent of developing Asia’s GDP in 2010 - down ten percentage points from 2002. In these circumstances, immunity from external shocks - or “decoupling,” as it is often called - seems fanciful. As with most things in Asia nowadays, China holds the key to supplying Asia’s missing consumer demand. The recently enacted 12th Five-Year Plan (2011-15) has all the right ingredients to produce the ultimate buffer between the dynamism of the East and the perils of a crisis-battered West.

But, as the euro crisis causes China’s economy to slow for the second time in three and a half years, there can be little doubt that implementation of the Plan’s pro-consumption rebalancing is lagging. There are no oases of prosperity in a crisis-prone globalized world.

That is equally true for Asia, the world’s fastestgrowing region. As Europe’s crisis deepens, the twin channels of financial and trade linkages have placed Asia’s economies in a vice. Rebalancing is the only way out for China and its partners in the Asian supply chain. Until that occurs, the vice now gripping Asia will only continue to tighten. * Stephen S. Roach, a member of the faculty at Yale University, was formerly Chairman of Morgan Stanley Asia, and is the author of The Next Asia.

The hunt for illiquidity Felix Salmon Reuters

Since illiquid investments don’t have an active market to price them, you can report to clients “optimistic” estimates of their value.

W

hen I spoke to Kauffman’s Diane Mulcahy, the main subject of conversation was her fabulous report on how investing in venture capital is broken.

And I wondered whether investors’ consistent desire to throw money at the asset class, even after 15 years of consistent underperformance, was attributable to some kind of weird nostalgia for the 1990s, when the dot-com bubble briefly made a handful of VC investors very wealthy.

But there’s something else going on here, too, I think, surrounding the whole concept of illiquidity. It’s clearly a bad and undesirable thing, in any investment, and it only takes a glance at the market for say Treasury bonds to understand that highly-liquid assets trade at a premium. In theory, then, the converse should be true as well: highly-illiquid assets should trade at a significant discount. And so long-term investors like the Kauffman foundation, who can afford to sit out market fluctuations and don’t need much in the way of immediate liquidity, should be able to buy attractive assets at a low price, and capture that extra yield for themselves.

I’m a long-term investor, too. I have retirement savings I won’t need for a good 30 years; as such, I’m in the market, should such a thing exist, for a long-term, illiquid investment which I can put money into, forget about, and then - if things go according to plan - find waiting for me in 2042 or so worth some vast amount of money which will then fund a lavish retirement. Well, a chap can dream. The fact is, however, that such investments simply don’t exist: as Mulcahy has found out the hard way, it’s almost impossible to find an illiquid investment which even so much as manages to keep up with the highly-liquid Russell 2000 index.

Alternatively, look at the incredibly low yields on syndicated loans, compared to the yields that the same companies pay in the bond market: there’s not really any indication of an illiquidity premium there, despite the fact that loans are much harder to liquidate than bonds are. And when you do find illiquid investments, such as hedge funds with lock-up periods, or venture capital, or private equity, you invariably find a 2-and-20 fee structure which more than obliterates any premium for illiquidity which ought by rights to be going to the investor rather than the money manager.

Which leaves the one large and illiquid investment which is still made by most American households - housing. If I take out a 30-year mortgage on a house today, then - again, if things go according to plan - I’ll find waiting for me in 2042 a fully paid-off asset which will be able to provide shelter for the rest of my life. It might not have gone up in value, but at least I’ll have dealt with the natural housing short that all living humans need to cover somehow. If I’m interested in a purely financial investment, however, it’s dangerous and probably a bad idea for individuals or even institutions to look too hard for illiquidity. Because although it pays off over the long term in theory, it’s incredibly hard to find people able of making it do so in practice.

Update: A fantastic comment from Stevensaysyes is worth promoting here: The illiquidity premium is countered by the fact that certain market participants prefer illiquidity. Financial advisors who bought venture capital over the Russell 2000 were probably happier over the last market cycle, even though the returns were lousy: * Illiquid investments report quarterly, so clients don’t see the daily lows, and they are less likely to call you with every swing of the Dow * When clients do see their assets fall, they can’t liquidate everything until the end of the lockup period * Since illiquid investments don’t have an active market to price them, you can report to clients “optimistic” estimates of their value, and also charge on it. If I were a cynical advisor, I’d put my clients in a portfolio of private equity, venture capital, hedge funds, and private real estate funds regardless of whether I expected them to outperform stocks. * Felix Salmon is a Reuters correspondent. The views expressed here are his own.

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2361 0000 2390 0000 2395 0000 2398 0000 2488 0000 2391 0000 2471 0000 2240 0000 2538 0000 2371 0000 2251 0000 2328 0000 2326 0000

metropolitan

Bus No. 11 12 13 14 15 16 17 18 20 21 22 23 24 25 26 29 31 32 34 36 38 39 40 41 51 59 * 101 102 103 105 139 501 502 506 507 602

a re a b u s ro u tes

Origin

Orthopaedic Orthopaedic Kheitan * Messila Salmiyah * Kheitan * Salmiyah Orrthopaedic Al-Jleeb Al-Jleeb * Al-Jleeb Kheitan Salmiyah Jahra Gate Sulaibiya Al Jleeb Kheitan Jabriya Salmiyah Al-Jleeb Messilah Kheitan Fahaheel Kheitan Al Jleeb * Al-Jleeb * Fahaheel Fahaheel Jahra Fahaheel Jahra Gate Airport Fahaheel Al-Jleeb Al-Jleeb Fahaheel

Destination

Sharq Sharq Mirgab Mirgab Mirgab Jahra Gate Sharq Mirgab Sharq Mirgab Sharq Mirgab Mirgab Jabriya Sharq Mirgab Sharq Sharq Sharq Salmiyah Jahra Gate Sharq Sharq UN Circle Mirgab Mirgab Mirgab Mirgab Mirgab Al-Jleeb Fahaheel Mirgab Mirgab Jahra Gate Sharq Fahaheel

Via

Shuwaikh 4th Ring Rd Airport Rd Ras Salmiyah 4th Ring Rd 4th Ring Rd Hawalli Shuwaikh Kheitan Farwaniyah 3rd Ring Rd King Faisal Rd Hawalli Hawalli Andalus Shuwaikh Shamiyah Nuzha Farwaniyah Farwaniyah Bayan Shuwaikh Shuwaikh Al Rai 6th Ring Rd Al Hasawi Sabah Salem 3rd Ring Rd Jahra Rd Shuwaikh UN Circle Jahra Rd Fahaheel Rd Hawalli Shuwaikh Ahmadi

KD 70 KD 140 KD 40 KD 40 KD 40 KD 40 KD 40

VISITORS RESIDENTS

H.S.C. Barium Enema Barium Meal O.C.G. Ultrasound Ultrasound desfruct M.R.I.

KD 40 KD 50 KD 45 KD 45 KD 15 KD 130 KD 245

KD 40 KD 35 KD 30 KD 30 KD 10 KD 65 KD 180

eMbassies &

Ministry of

C omm u nic a tions Telephone for Test & Complaints

warsha@warsha.com

f or e x p a tri a tes

VISITORS RESIDENTS

C.T. Scan Angiogram I.V.P MCUG Asc Urothrogram Sinogram Sialogram

Tel.: Afghanistan 2532 9461 Algeria 2251 9220 Argentina 2537 9211 Austria 2255 2532 Australia 2232 2422 Azerbaijan 2535 5247 Bahrain 2531 8530 Bangladesh 2531 6042 / 3 Belgium 25722014 Bhutan 2251 6640 / 50 Bosnia 2539 2637 Brazil 2532 8610 Bulgaria 2531 4458 Canada 2256 3025 China 2533 3340 Cuba 2254 9361 Cyprus 2243 3075 Czech 2252 9018 Denmark 2534 1005 Egypt 2251 9956 Ethiopia 2533 4291 Eritrea 2531 7426 Finland 2531 2890 France 2257 1061 Germany 2252 0827 Greece 2481 7101 Georgia 2535 2909 Hungary 2532 3901 India 2253 0600 Indonesia 2483 9927 Iran 2256 0694 Italy 2535 6011 Japan 2530 9400 Kenya 25353314 / 25353362 Lebanon 2256 2103

Libya 2257 5183 Malaysia 2255 0394/5/6 Morocco 2531 2980 / 1 Netherlands 2531 2650 Niger 2565 2943 Nigeria 2562 0278 North Korea 2532 9462 Oman 2256 1956 Pakistan 2532 7651 Philippines 2534 9099 Poland 2531 1571 Qatar 2251 3606 Republic of Botswana 2538 3619 Romania 2484 5079 Russia 2256 0427 Saudi Arabia 2240 0250 Senegal 2257 3477 Slovak Republic 2535 3895 Somalia 2539 4795 South Africa 2561 7988 South Korea 2533 9601 Spain 2532 5829 / 7 Sri Lanka 2533 9140 Switzerland 2534 0172 / 5 Syria 2539 6560 Thailand 2531 7530 Tunisia 2252 6261 Turkey 2253 1785 UAE 2535 5764 UK 2259 4320 Ukraine 2531 8507 USA 2259 1001 Venezuela 2532 4367 Vietnam 2531 1450 Yugoslavia 2532 7548 Zimbabwe 2562 1517

2257 5182 2255 0384 2531 7423 2532 6334 2564 0478 2562 0296 2535 1097 2256 1963 2532 8013 2532 9319 2531 1576 2251 3604 2539 3529 2484 8929 2252 4969 2242 0654 2254 2044 2535 3894 2539 4829 2561 7917 2531 2459 2532 5826 2533 9154 2534 0176 2539 6509 2531 7532 2252 8995 2256 0653 2259 4339 2538 0282 2532 4368 2535 1592 2532 7568 2562 1491

Police stations Tel.:

Abu Halifa 2371 7656 Ahmadi 2398 0304 Ardiya 2488 1273 Bayan 2538 7762 Dahar 2383 0500 Dahiya 2256 0855 Dasma 2253 1917 Fahaheel 2391 2959 Faiha 2255 2693 Farwaniya 2471 1977 Ferdous 2489 0583 Fintas 2390 4388 Hawalli 2264 1116 Jabriya 2531 5855 Jahra Ind. Area 2457 5565 / 2458 7392 Jahra North 2455 2295 Jleeb Al Shouyoukh 2431 1234 Keifan 2483 2839 Kheitan 2472 2590 Mina Abdullah 2326 1144 Nugra 2261 6662 Omariya 2474 2160

Ambulance

Central Adan Amiri Hospital Da’iya Fahaheel Farwaniya Farwaniya Jahra Mubarak Al Kabir Sabah Salmiya Shuaiba

23940600 / 23941455 22422366 22510854 23919098 24883000 24725149 24570583 25311437 24815000 25739011 23261927

Private Hospitals

Al-Rashid Hospital Dar Al-Shifa Hospital Hadi Clinic London Hospital Mowasat Hospital Salam Hospital

Qadsiya 2257 4386 Qurain 2542 3772 Rabiah 2474 2160 Rawda 2256 0058 Riqqa 2394 1958 Rumaithiya 2562 4123 Sabah Al-Salem 2551 7229 Sabahiya 2361 5619 Salhiya (Kuwait City) 2242 7157 Salmi 2457 6576 Salmiya 2572 6950 Salwa 2562 6950 Shamiya 2484 5953 Sharq 2244 2466 Shuaiba Ind. Area 2326 1789 Shuwaikh 2481 3726 / 2484 4842 Sulaibekhat 2487 6555 Sulaibiya 2467 0672 Sulaibiya Ind. Area 2467 2728 Surra 2531 2220 Tayma’a 2457 1700 Wafra 2381 0412 Waha 2455 7902 Zour 2395 0160

Adan General Hospital Al-Sabah Chest Hospital Al-Sabah Maternity Hospital Amiri General Hospital As’ad Al-Hamad Dermatology Center

Farwaniya General Hospital Ibn Sina Hospital Jahra General Hospital Mubarak Al-Kabeer General Hospital Subhan Renal Hospital Sulaibikhat Orthopedic Hospital

25624000 22802555 1828282 1883883 25726666 22533177

Private Health Centers/ Clinics

Boushahri Clinic British Medical Center Care Clinic International Clinic

Public Hospitals

cons u l a tes

Fax 2532 6274 2251 9497 2537 9212 2256 3052 2232 2430 2535 5246 2533 0882 2531 6041 2574 8389 2251 6550 2539 2106 2532 8613 2532 1453 2256 4167 2533 3341 2254 9360 2240 2971 2252 9021 2534 1007 2256 3877 2533 1179 2531 7429 2532 4198 2257 1058 2252 0763 2481 7103 2535 4707 2532 3904 2257 1192 2481 9250 2252 9868 2535 6030 2530 9401 25353316 2257 2182

centr a l 4 7 2 2 0 0 0

94904040

hospital charges

medical services

Call, sms, Email us

O n- s i t e I T s e r v i c e s

23940600 24815000 24848067 22450080

1885544 23713100 22610666 25745111

Public Health Centers/ Clinics:

Dasman Clinic Faiha Polyclinic Farwaniya Polyclinic Hawalli Polyclinic Inaya Germen Medical Center Sabah Al-Salem Clinic Salmiya Polyclinic Shamiya Clinic Shuwaikh Clinic Yarmouk Clinic

24832067 24883000 24840300 24575300 25312700 24840027 24874240

22447602 22545188 24726033 22611645 25750777 25524821 25723500 25610660 24848913 25336482

DOCTORS & DENTISTS

I N PR I VAT E PR AC T ICE

Andrology, Male Infertility and Impotence Specialist Abdullatif A. Al Salim 2533 4438

Dermatologist & Venereologists Fahad I. Al Othman 2266 5166 Taibah M. Almonayes 2573 7477 Dr. Mohamed Bo Hamra 2266 5166

Dentists & Oral Surgeons Ahmed Al Balool 2262 2211 Badri K. Al Rayes 2574 2557 Duha Al Shaqan 2264 4614 Ebraheem Behbehani 2573 0000 Farida Al Herz 2257 3883 Maria Blanaru 2573 0000 Najat Essa-Bahman 2262 4595 Najeeb Kassim 2573 9277 Salwa A. Abdulsalam 2573 0000 Kuwait Medical Center 2575 9044 / 5 Endocrinologists Latifa Al Dowaisan Kamal Abdulaziz Al Shome

Gastroenterologist Mohamed A. Al Shimali 2532 2030 - 2263 9955 Urologist Fawzi Taher Abul Ali Yousef Mehdi

2565 0064 2533 3501

General Practitioner Dina Al Rifai 2533 3501 - 2533 3502 Obstetricians & Gynecologists Samira Al Awadi 2573 8055 Ma’asouma Maksheed 2573 1275 Mohamed Gamal 2534 9077 Mai Al Snan 2532 1171

2572 8004 2532 9924

Ear, Nose & Throat Surgeons Hossam Eldin Abdulfattah 2574 5056 Abdulmohsen Mousa Jafar 2565 5535

Cosmetic Surgeon Dr. Adel Quttainah

2562 5030 / 60

Ministries

Awqaf & Islamic Affairs Commerce & Industry Communications Defense Education Health Higher Education Electricity & Water Finance

2248 0000 2248 0000 2481 9033 2484 8300 2481 7702 2487 7422 2240 1300 2537 1000 2248 0000

Foreign Affairs Housing Information Justice, Legal & Administrative Affairs Energy Planning Social Affairs & Labour Public Works

2242 5141 2530 1000 2241 5301 2248 0000 2241 5201 2242 8200 2248 0000 2538 5520

RESTAURANT • Café Library Lounge Al-Manshar Rotana Hotel Tel: 23931000 Hang.Out Lounge Galleria 2000 Tel: 25755588 Song Bird Café Hilton Kuwait Resort Tel: 23725500 Chit Chat Café Restaurant Safir Hotel & Residences -Fintas Tel: 25455555 Lounge Café Safir Hotel & Residences -Fintas Tel: 25455555 The English Tea Room Sheraton Hotel Tel: 1835555 Waterlemon Al-Raya Tel: 22244797 Marina Mall Tel: 22997666 Le Pain Quotidien Palms Beach Hotel Tel: 25633684 Marina Crescent Tel: 22244942 Avenues Tel: 24954632 • Casual Dining Applebee’s Bneid Al-Gar Tel: 22407536 Fintas Tel: 23714559 Burgerhub Gulf road Tel: 22464818 Chili’s Bneid Al-Gar Tel: 22452200 Chili’s Al-Bida’a Tel: 22253120/1 Hard Rock Café Salmiya Tel: 25710004 Ruby Tuesdays Bneid Al-Gar Tel: 22444454 T.G.I. Fridays Bneid Al-Gar Tel: 22544300

• Chinese China Hut Tel: 25656226 China Express Jabriya Tel: 25342399 Salwa Tel: 25653230 China House Salmiya Tel: 25713339 / 60 China Lake Al-Blajat St. Tel: 25713072 / 3 China Town Salmiya Tel: 25652541 Greens Al-Wafra Complex Tel: 22516031

Tel: 1815050 • French Le Notre Gulf Road Tel: 25758888 • Indian Dawat Restaurant Bneid Al Gar Tel: 22411728 Abu Halifa Tel: 23724251 Al Alamia Mall, Jahra Tel: 24554642 Taal Restaurant Salmiya Beda’ Tel: 22253142 Winner’s Salmiya Tel: 25739954 Abu Halifa Tel: 23711374 / 5 Riggae Tel: 24895501 / 2 Jahra Tel: 24560088/8800

Gulf Royal Tel: 23925390-Fintas 22622556-Hawalli 25710448-Salmiya 22244795-Marina

Asha’s Tel: 22244502/3/9 Marina Crescent Tel: 24954700

Noodles Salmiya Tel: 25712233

Bukhara Sheraton Hotel Tel: 22422055

The Peacock Radisson Blu Hotel Tel: 25673000

Tourist Restaurant Kuwait City Tel: 22411702

Noodle Factory Avenues Tel: 24954751

Mugal Mahal Farwaniya Tel: 24726126/7 Fintas Tel: 23915588 Salmiya Tel: 25722223/4 Sharq Tel: 22425132

• Continental Casper & Gambini’s Kuwait City Tel: 22430054 La Marina Sharq Mall Tel: 22426672 • Fast Food Burger King Tel: 22444466 Domino’s Pizza Tel: 1800800 Hardees Tel: 1888333 KFC Tel: 1888666 Little Caesar’s Tel: 1888855 Pizza Hut

Tikka Tel: 1822833 • International Al-Bustan Radisson Blu Hotel Tel: 25673000 Al-Hamra Sheraton Hotel Tel: 22422055 Al-Marsa Restaurant Le Meridien Tel: 22510999 Atrium Restaurant Courtyard Marriott Hotel

Tel: 22997000

L I S T I N G S

Beit 7 Kuwait City Tel: 22450871 Café Rio Al-Fanar Tel: 25732226 Dunes Ritz Hotel Tel: 22499911 Failaka Al-Manshar Rotana Hotel Tel: 23931000 La Brasserie JW Marriott Tel: 22455550 Ritz Shamiya Tel: 24820184 Shuwaikh Tel: 24844350 Square International Tel: 22437681 Test n’ Taste Villa Moda Tel: 24827010 Teatro Hilton Kuwait Resort Tel: 23725500

Kuwait City Tel: 22400737

Nino Gulf Road Tel: 22541900 Pizza Express Abdullah Al-Salem Tel: 22560273 Al-Bida’a Tel: 22253166 Airport Tel: 24342681 Tel: 23725500 Ricardo Sheraton Hotel Tel: 22422055 • Japanese Edo Shaab Tel: 22659590 Kei JW Marriott Hotel Tel: 22422650 Korea & Japan Restaurant New Park Hotel Tel: 25634200

Sakura Crowne Plaza Hotel Tel: 24742000

AlRoshinah Restaurant Safir Hotel & Residences -Fintas Tel: 25455555

Shogun The Palms Hotel Tel: 27070022

Il Forno Restaurant Courtyard Marriot Hotel Tel: 22997000 Johnny Carino’s Salmiya Tel: 22667050 La Piazza Kuwait City Tel: 24246639 Lorenzo

Manousha Salmiya Tel: 25722607 / 8

Al-Noukhaza Crowne Plaza Hotel Tel: 24742000

Fakhr Al-Din Restaurant Kuwait City Tel: 22423180

Villa Fairouz Shaab Tel: 22652030

Shrimpy Gulf Road Tel: 22563118 Totally Fish Marina Crescent Tel: 22244960/1

Garden New Park Hotel Tel: 25634200

Yeldes Palace Kuwait City Tel: 22455212

Kabab-Ji Tel: 1861616

Zahrat Tunis Hawalli Tel: 22662444/333

Mais Al-Ghanim Kuwait City Tel: 22402590

• Persian Kabab Al-Hijja Bnaid Al-Gar Tel: 22517512

Palm Palace Salmiya Tel: 25756331 Saj Express Kuwait City Tel: 22497822 Sarai Al-Bida’a Tel: 22253180/1 Shisha &

Sushi Club Al-Blajat St. Tel: 25712144 Wasabi Al-Bida’a Tel: 22253112 Kuwait City Tel: 22494000 • Lebanese Al-Berdawny Palace Tel: 25661117 Ayam Zaman Holiday Inn Tel: 18477777 Burg Al-Hamam Gulf Road Tel: 22529095

• Steak House Relais De L’Entrecote Al-Fanar Complex Tel: 25729600 Terrace Grill JW Marriott Hotel Tel: 22455550

Shabistan Crowne Plaza Hotel Tel: 24742000

The Gaucho Grill The Palms Hotel Tel: 25667370 -

• Seafood Al-Ahmadi Crowne Plaza Hotel Tel: 24742000

• Tex-Mex Chi Chi’s Salmiya Tel: 25625811

Al-Boom Radisson Blu Hotel Tel: 25756000

Tumbleweed Southern Grill Al-Bida’a Tel: 22253154/5

Maki Al-Blajat St. Tel: 25733561 Marina Waves Tel: 22244560

Flavors Restaurant Safir Hotel & Residences -Fintas Tel: 25455555

• Italian Ciro’s Pomodoro Kuwait City Tel: 22424004

Saj Express Kuwait City Tel: 22497822

Te l : 1 8 3 9 0 9 0

Salmiya - Jabriya - Keifan www.healthstop.com.kw

HOTELS

FIVE STAR Al-Manshar Rotana Hotel Crowne Plaza Kuwait Hilton Kuwait Resort JW Marriot Kuwait City Hotel Kempinski Julai’a Hotel & Resort The Regency Hotel & Resort Le Meridien Le Meridien Tower Marina Hotel Kuwait Movenpick Albid’a Movenpick Palms Beach Hotel & Spa Radisson Blu Hotels & Resorts Refad Palace Safir International Hotel Kuwait Sheraton Kuwait Hotel & Towers Safir Hotel & Residences Kuwait

23931000 24772000 23725500 22455550 1 844 444 25766666 22510999 22831831 22244970 22253100 24610033 22824060 25673000 23908630 22530000 22422055 25455555

FOUR STAR Carlton Tower Hotel The Courtyard by Marriott Kuwait El Joan Resort Four Points by Sheraton Kuwait

22452740 22997000 23281897 22415001

Ghani Palace Hotel Holiday Inn Khalifa Resort Kuwait Continental Hotel New Park Hotel Al Bastaki Hotel Al Dana Hotel Heritage Village Palace Hotel Shiik Flamingo Hotel & Resort Swiss-Belhotel Plaza Kuwait

25710301 1 847 777 23280144 22527300 25634200 22555081 23902760 22520600 1 821 111 25725050 22436686

THREE STAR Imperial Hotel Oasis Hotel Safari House Hotel Second Home Hotel Spring Continental Hotel Ibis Hotel Salmiya Ibis Hotel Sharq

22528766 22465489 22443136 22532100 25742410 25713872 22928080

TWO STAR International Hotel Kuwait Residence Hotel

25741788 22467560

BUSINESS

thursdAY, may 31, 2012

m ar ket watc h KUWAIT 0.54 % 6241

Kuwait Energy led consortium wins exploration contract for block 9 in Iraq

DUBAI

QATAR

0.3% 1471

0.02% 8476

OMAN 0.57% 5787

KUWAIT: Kuwait Energy, one of the fastest growing independent oil and gas companies in the Middle East, announced in a press release that a consortium led by the company was awarded Wednesday the exploration and development contract of block 9 in Basra, Iraq. The announcement was made by the Iraqi Ministry of Oil and tender committee during the country’s fourth energy bidding round, which awarded exploration and development contracts for 12 blocks with hydrocarbons prospects.

OIL MARKETS

ABU DHABI

BAHRAIN

0.23% 2450

0.25% 1137

EGYPT 0.04% 4686

SAUDI

0.82% 6975

US Crude $88.63 $2.13 London Brent $104.10 $2.58 Kuwait Crude $103.90 $0.37 Information Courtesy: KAMCO

CURRENCIES US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2804 Sell 0.2809 Buy 0.3487 Sell 0.3494

Buy 0.437 Sell 0.4378

Buy 0.003544 Sell 0.003553

Buy 0.0747 Sell 0.0749

Buy 0.07633 Sell 0.07648

Buy 0.07713 Sell 0.07698

Kuwaiti crude rises 37 cents to $103.90 per barrel

Buy 0.00645 Sell 0.006432

For the month, the US benchmark has fallen even faster, weighed by a surge in domestic stockpiles. It has fallen 14.6 percent, its biggest fall since late 2008.

Crude stocks at the Cushing, Oklahoma, storage hub, delivery point of the US crude oil future contract, have risen to a record high of 46.8 million barrels.

“The European debt crisis and concerns about Chinese economic growth together mean that sentiment is on the very bearish side,” said Andy Sommer at EGL in Dietikon, Switzerland.

Iran support

Liptons shop proprietor Tony Morgan reaches into his till with old Irish currency, the punt, euro notes and Clones vouchers inside at his shop in Clones, Ireland on May 30, 2012. Businesses in the town of Clones are taking part in an experiment to boost a town ravaged by the economic downturn. Holders of the old currency are invited to visit Clones and hand over their punts in exchange for blue and yellow laminated vouchers which are then usable at any of the 45 businesses that have signed up for the scheme. The central bank in Dublin has told the Town that there was around 285 million punts that could still be exchanged as legal currency. (AFP)

They joined a chorus of commentary countering market expectations that China might unveil a stimulus package similar to the four trillion Chinese yuan ($630.1 billion) in spending unleashed during the global financial crisis.

KSE main indices green upon closing session KUWAIT: Three main indices of the national bourse were green upon closing Wednesday’s session. Price index gained 33.8 points rising to the level of 6,241.42 points, weighted index gained 1.99 points climbing to 408.48 and the KSX index put on 3.14 points reaching 15 978.92 points.

Number of trades amounted to 5,542, value of traded stocks 24,916,428 Kuwaiti dinars. 486 and volume of exchanged shares 339,589,116. Meanwhile, the price

Buy 0.7437 Sell 0.74507

Buy 0.004995 Sell 0.004985

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

Oil falls on Spain, China worries

CAPITALS: The price of Kuwaiti crude oil came up 37 US cents to trade for 103.90 US dollars per barrel (pb) Tuesday compared to last Monday’s $103.53 pb, said Kuwait Petroleum Corporation (KPC) on Wednesday. The hike in crude price in the global oil market follows opinion polls in Greece on Sunday which indicated that the New Democracy Party (conservative) might yet be able to form a government, after the elections set for June 17, alleviating investors’ fears of a Greek exit from the euro zone as a result of the current political impasse.The oil market is also under the influence of flaring political and security unrest and instability in Syria, which caused fears of a threat to the flow of oil supplies from the region.

Meanwhile, prices of crude oil dropped in Asian trades on Wednesday amid persistent concerns regarding economic crisis in Spain and other European nations.

In more news, Brent crude oil fell on Wednesday, as fears intensified about the future of Spain’s banks, while China signaled it was not planning a large stimulus package, dimming demand prospects.

Oil recovered some losses after the European Commission called for sweeping reforms to restore investor confidence.

However, the move failed to turn around the negative tone of the market.

Spain will soon issue new bonds to fund its ailing banks and indebted regions, even while its borrowing costs neared the unsustainable seven percent level, which forced other euro zone countries to seek international aid.

Feeding fears that China, the engine of global growth, will not grow as fast has hoped, influential academics said Beijing should shun aggressive fiscal stimulus, in remarks published in leading state-backed newspapers on Wednesday.

See page 10

index of Kuwait Stock Exchange shed 7.78 points falling to the level of 6,199.84 points in early trading at Wednesday’s session.

Meanwhile, the weighted index put on 0.4 points, rising to 406.89 points. But the main index, KSX 15, which reflects performance of blue-chips, lost 0. 42 points, dropping to the level of 975.36 points. Number of trades has so far reached 729, value of traded shares KD 6,530, 362.692 and volume of the exchanged stocks, 50,908. -KUNA

Facebook shares plumb new depths, valuation questioned

SAN FRANCISCO: Facebook Inc. shares slid below 29 US dollars to a new low on Tuesday as nervous investors fled the company’s shares, concerned about the social network’s long-term business prospects and an initial offering price that proved too rich. Shares of the No. 1 social network fell 10 percent to an all-time low of $28.65, before closing at $28.84, or down 9.6 percent. Since its market debut at $38 on May 18, the eight-year-old company has shed approximately $25 billion in value - roughly equivalent to the market capitalization of Morgan Stanley, the lead underwriter of Facebook’s initial public offer (IPO). Wall Street has harbored concerns that Facebook, while boasting nearly a billion users worldwide and dominating Internet social-networking, would have difficulty translating its growing presence on smartphones and other mobile devices into revenue. Rivals Google Inc and Apple Inc currently dominate the mobile arena. Facebook’s quest to monetize mobile is spurring widespread speculation over its next moves. Technology bankers say the company would benefit from tacking on mobile operating software through an acquisition of Norway’s Opera, which has been on the auction block for a while.

The New York Times cited sources dredging up a longstanding rumor that Zuckerberg was pondering building a Facebook phone, and that an easy way to acquire the hardware expertise needed was to buy troubled Research in Motion.

The Blackberry maker said late on Tuesday that it hired J.P. Morgan and RBC Capital Markets to help the company and its board with a “strategic review.

“They are clearly looking at smartphones and are trying to become more vertically integrated with their users,” said Ryan Jacob of the Jacob Internet Fund. “They just don’t want to be another app on Google’s or Apple’s platform.”

“Speculation that Facebook is dabbling outside their main expertise and possibly planning another large acquisition may be unsettling to some investors,” he added. “But I think options trading is behind today’s drop in the shares.”

Facebook options began trading on Tuesday, presenting a tempting target as more investors bet the underlying stock would head south. They piled into put and call options - granting investors the right to sell or buy stock at a certain price marking one of the busiest debuts ever in the options market.

“The fact that the stock has been weak on the first day of options trading means people are betting on future declines or buying insurance,” Jacob said. “Investors may want to hold the stock but are buying protection in case the price falls further.”

Jacob said he did not buy Facebook shares in the IPO and has not bought the stock since the debut. “If the price is right we would consider buying,” he added. “It’s not quite there yet.” Janet Tavakoli, president of Tavakoli Structured Finance Inc in Chicago, said she bought puts expiring in September with a strike price of $25, at a cost of $210 per contract, with each contract representing 100 shares.

“The valuation is a complete bluff. There is still a long way to go down from here,” she said. “There will be insiders selling their shares on August 20, when the first lockout period is over. There will be a lot of shares that will hit the market and more in coming months.” -Reuters

Brent crude slid $1.61 to $105.07 per barrel by 1203 GMT. It was down nearly 12 percent so far in May, its biggest such fall in two years.

US crude was down $1.18 at $89.58 per barrel.

But oil’s losses may be checked by supply concerns as Iran’s dispute with the West over Tehran’s nuclear program remains unresolved.

Some analysts also saw scope for support as the increase in supply from some countries is seen as leveling off.

“Oil will gradually climb higher, with the ban of Iranian oil starting to make an impact,” said Sommer at EGL. “Demand is always higher in the second half, while we won’t continue to get incremental growth to supply from Libya, and Saudi Arabia won’t go on increasing production.”

Tehran is refusing to grant United Nations inspectors access to a facility at Parchin, which is suspected of being used to develop nuclear weapons. Iran says its aims are entirely peaceful.

Iran has ramped up its production of low-enriched uranium in the past five years, and it could be used for at least five nuclear weapons if refined further, the US-based Institute for Science and International Security said.

Iraq, which has the potential to increase supply substantially, said average oil exports in May were at 2.4 million barrels per day so far, compared with an average of 2.508 million bpd for April.

Iraq started its fourth energy bidding round to allow international companies to compete for exploration deals on 12 new oil and gas areas as the country seeks to expand its crude reserves and become a major gas exporter. -Agencies

Global announces Q1 financial results

KUWAIT: Global Investment House announced in a press release on Wednesday its financial results for the quarter ended March 31, 2012.

In the first quarter (Q1) 2012 Global generated 2.4 million Kuwaiti dinars of operating income from the fee-based businesses of asset management, investment banking and brokerage. During Q1 2012, the Asset Management business remained resilient with KD 1.0 billion (3.8 billion US dollars) of assets under management. Several funds managed by Global outperformed their respective indices and peers. During the quarter of Q1 2012, Global EPADI Fund

received ‘GCC Equity Fund of the year’ and the Global Distressed Fund received the “Fund of Funds of the Year” award by MENA Fund Manager.

During the quarter ended 31 March 2012, the Principal Investments income stood at KWD0.04 million.

Global continues its drive to rationalize its cost base. Staff costs in Q1 2012 were 12 percent lower than the Q1 2011.

The other operating expenses increased by 49 percent to KD 3.9 million, mainly due to costs associated with a project to seek a longterm solution to the company’s capital structure.

During the quarter, interest costs increased by two percent to KD 6.2 million compared to Q1 2011 interest cost of KD 6.1 million primarily due to increase in the margin of the restructured facility by one percent.

During Q1 2012 Global made $21.0 million principal repayments, bringing the total repayments since inception under the restructured bank debt to $263.0 million (15.1 percent of the original principal amount).

As announced earlier Global is in constructive and regular engagement with its creditors to seek a long-term solution to its capital structure.

NBK celebrates six decades of serving Kuwait

National Bank of Kuwait officials and His Highness the Amir at the 60th anniversary celebration

KUWAIT: National Bank of Kuwait (NBK) organized a ceremony to celebrate its 60th anniversary, under the patronage and presence of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, Speaker of the National Assembly Ahmad Al-Saadoun, His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Ahmad Al Sabah, along with other senior officials and NBK board members and executives. This was stated in a press release on Wednesday.

On May 19, 1952, the late Amir Sheikh Abdullah Al-Salem Al-Sabah, issued the famous Amiri Decree promulgating the incorporation of the National Bank of Kuwait (NBK) as the first national bank and the first shareholding company in Kuwait and the Gulf. This was stated in a press release on Wednesday.

The commemoration of this inspiring and monumental anniversary comes as a culmination of a remarkable story of success, by means of which NBK has been transformed from a small

bank that occupies the area of three shops and a handful of employees relying on traditional and manual banking tools to one of the largest and most profitable banks in the region.

Today, NBK has the largest local and overseas banking network encompassing more than 176 branches, representative offices and subsidiaries strategically located within the main international and regional financial centers.

At the ceremony, Nasser Al-Sayer, NBK Vice Chairman delivered a speech on behalf of NBK Chairman Mohammad Al-Bahar expressing his deep appreciation for His Highness’s contribution in commemorating this important milestone.

Al-Sayer said, “This year, NBK celebrates its 60th anniversary. As the first national bank and Shareholding Company in Kuwait and the Gulf Cooperation Council (GCC), NBK dedicates its continuous success to Kuwait, where NBK belongs and has developed from a small bank that occupies the area of three shops to one of the largest and most profitable banks in the region.”

“NBK continues today to set the standard

NBK’s first head office in 1952

and maintains its leadership in the local and regional markets. Today, NBK is the highest rated and best bank in the Middle East and one of the World’s Safest Banks,” Al-Sayer noted.

“Today, NBK has the largest local and overseas banking network encompassing more than 176 branches, representative offices and subsidiaries strategically located within the main international and regional financial centers. NBK could not have achieved all these accomplishments without the support and dedication of its valuable customers and employees,” Al-Sayer added.

Al-Sayer stressed that “NBK has a long tradition in supporting social and community-oriented activities in the country. Today, NBK maintains its leading position as one of the country’s largest employers in the private sector. We are proud to have more than 2000 Kuwaiti employees.”

During the ceremony, NBK showed a documentary that highlighted NBK’s history and contributions in the development of the national economy.

10

ALWATAN DAILY

BUSINESS

thursDAY, may 31, 2012

Kuwait Energy led consortium wins exploration contract for block 9 in Iraq Few takers in Iraq’s latest energy auction Compiled by Al Watan Daily

KUWAIT: Kuwait Energy, one of the fastest growing independent oil and gas companies in the Middle East, announced in a press release that a consortium led by the company was awarded Wednesday the exploration and development contract of block 9 in Basra, Iraq. The announcement was made by the Iraqi Ministry of Oil and tender committee during the country’s fourth energy bidding round, which awarded exploration and development contracts for 12 blocks with hydrocarbons prospects.

Kuwait Energy led the consortium that bid for block 9, which also included the national oil company of Turkey, Turkish Petroleum Corporation (TPAO), and Dragon Oil, an independent international oil and gas exploration, development and production company. Kuwait Energy will be the operator of the block with a 40 percent working interest, while TPAO and Dragon Oil will each hold a 30 percent working interest.

Block 9 covers a 900 square kilometer area and is expected to hold oil prospects. Hydrocarbons, reserves and production will be determined during the exploration and development phase. If block 9 is found to be commercial during the five-year exploration period, the consortium may make an application to the Iraqi government to develop the block over a 20-year development period.

Block 9 is adjacent to neighboring Iran’s huge Azadegan oilfield. Western geologists say there is discovered oil in the block and add it may be part of the Azadegan reservoir.

This is the third block awarded to Kuwait Energy. In Iraq’s third bid round held in October 2010, Kuwait Energy was awarded two 20-year development contracts of the Siba and Mansuriya gas fields. Kuwait Energy is the operator of the Siba gas field with a 60 percent working interest, and holds a 30 percent working interest in Mansuriya gas field.

Kuwait Energy Executive Chairman, Dr. Manssour Aboukhamseen, said, “We thank the committee for their trust and confidence in Kuwait Energy. We look forward to commencing soon and to support Iraq’s endeavors to develop its energy sector. This is a new milestone for the company and we owe this win to our team.”

The consortium’s successful remuneration fee bid was 6.24 US dollars per barrel of oil equivalent (boe).

During the first day of auctioning on Wednesday, foreign companies made no offers on four oil and gas blocks and a group led by UK-based Premier Oil rejected a government offer on the fee for a fifth block, scuttling an agreement there.

Another six blocks were scheduled to go up for auction on Thursday, alongside at least of the two blocks initially rejected on Wednesday.

Bidding was decided according to the remuneration

FILE - In this December 13, 2009 file photo, Iraqi workers are seen at the Rumaila oil refinery, near the city of Basra, Iraq. Kuwait Energy led a consortium that was awarded on Wednesday, May 30, 2012, the exploration and development contract of block 9 in Basra, Iraq. (AP)

fees offered, with the lowest bids winning blocks. Industry sources had said companies would have to offer $10 to $20 a barrel for the service fee to compensate for risks involved.

Iraq had eased the terms on the service contracts in an attempt to lure interest, but companies are generally more wary of service agreements - where they are paid a fee - rather than production-sharing deals that allow them to profit jointly from the output.

“With tough gas contract terms, and all the other risks around these blocks, we don’t expect much interest from companies,” said one senior company executive involved in the bidding, who asked not to be identified because of the sensitive nature of the negotiations.

Large reserves

Iraq has the world’s fourth-largest oil reserves and the tenth-largest gas reserves, and still offers potentially rich unexplored territories after its industry was left under-developed for years.

Violence from the country’s war has ebbed sharply, and major international oil companies like BP and Exxon have already signed major deals to develop oilfields in the south, where current average exports are 2.13 million barrels per day and output 2.35 million barrels per day (bpd).

But companies entering new deals must weigh still

tough service contract terms and the risks from Iraq’s ongoing political instability against the potential gas and crude developments on offer in the bidding, mostly in remote parts of western and central Iraq.

Oil explorers winning blocks will immediately be able to extract gas discovered at their sites, but the Iraqi government has retained the option to pay compensation to companies to keep crude in the ground to help boost its reserves. Investors may shy away from blocks in more remote areas due to concerns over security in a country where Sunni Islamists tied to al Qaeda are still active despite a drop in the violence and bombings at the height of Iraq’s war.

Another hurdle could be the failure of Iraq’s parliament to pass a long-delayed national oil and gas law that could provide a stronger framework for protecting oil investments.

Baghdad’s central government and the autonomous Kurdistan Regional Government in the north are also locked in a dispute for control over oil in areas which both authorities claim. Baghdad rejects deals signed by the Kurdish region as illegal.

Exxon Mobil was dropped from the fourth bidding round after it announced deals to develop oilfields in Kurdistan, a move Baghdad criticized. US-based Hess Corp was also blocked from competing after it signed for Kurdish oil deals.

Zain welcomes students from University of Colorado to its premises

Zain officials with students from the University of Colorado

KUWAIT: Zain, one of the leading telecommunication companies in Kuwait, recently hosted a group of students from the University of Colorado and introduced them to the company’s commitment to the latest developments in the telecommunication industry. This was stated in a press release on Wednesday.

Speaking on the occasion of the visit, Waleed Alkhashti, Manager of Corporate Communications, Zain said, “Zain is glad to provide youth with the opportunity to get a glimpse of the most successful private companies in Kuwait. The choice to visit the headquarters of Zain demonstrates the positive features and the strong corporate image of the company both at home and abroad.”

This positive assessment came during the visit when students praised the company’s unique experience in the telecommunications industry.

The students were acquainted with the various units in the company which, in turn, provided a vista of Zain’s multilayered operational capacity. The students

were acquainted with the major facets in the economic, social and communications fields of the company that set Zain apart from its counterparts.

The US delegation was briefed on Zain’s experience. During the visit the students participated in many discussions which focused mainly on the telecommunications industry, the information revolution and the operation of companies in the Middle East and Kuwait. The meeting served as a platform to exchange views on the latest solutions and applications in information technology.

During the meeting, the group of students praised the high level of services offered by Zain. They expressed their admiration about the operational model of Zain which is based on high standards.

The students visited the Networks Department where they expressed their satisfaction with the latest equipment and operation systems. They praised Zain for the wonderful experience and the customer satisfaction, which is considered a priority for Zain’s strategy.

Glencore, Vitol keep oil flowing to Greece LONDON: Debt-stricken Greece is surviving on oil priced at a premium from trading houses Vitol and Glencore, who have stepped in as suppliers of last resort after sanctions forced Greece to halt imports from its main supplier Iran.

Greece has been forced to halt Iranian oil purchases because of EU financial sanctions ahead of an oil embargo in effect from July 1. The timing could hardly have been worse for Athens, which had become dependent on Iranian oil because most oil firms and banks would not extend it credit for fear it would default on its debts.

Trading sources told Reuters that Vitol and Glencore, the world’s No.1 and 2 oil traders, have been supplying the bulk of the needs of Greece’s top refiner Hellenic in the last two months. Between them, the two firms have given Greece about 300 million euros (375 million US dollars) in open credit financing, trading sources estimate, allowing Athens to keep buying oil without payment guarantees from banks.

Glencore has given credit for about 200 million euros, Vitol about 100 million, the trade sources said.

That has allowed Greece to avoid a steep slump in oil refining and escape fuel shortages. But the rescue has come at a price because the trading houses are said by traders at rival companies to be charging a hefty risk premium.

Vitol and Glencore declined to comment on their roles in supplying Greece. Hellenic also declined to comment.

Because of their deep pockets and their willingness to take risk, Vitol and Glencore are the only firms that have been able to keep large quantities of oil flowing to Greece.

“If I had to deliver to Greece now, I would be feeling very uncomfortable,” said a dealer at a Russian trading house who

does not supply Greece.

Referring to the risk that the two firms are taking, he added: “An operational hole of $100 million would have killed me. But I guess Glencore or Vitol can afford having it. After all, the Greeks will manage to repay somehow in the future.”

State Iraqi and Saudi oil companies continue to supply small amounts of crude to Greece and some companies, including Shell, continue sporadic shipments.

Keeping afloat

Iran had been offering generous credit terms to sell its oil amid tightening sanctions, and was willing to overlook Greece’s debt problems and sell oil via “open credit” - an industry term meaning payments for oil can be delayed for 60-180 days. The open credit system is risky as neither party has the support of a bank’s letter of credit in case of non-payment. Last year, Greece turned to Iran as its main supplier despite pressure from Washington and Brussels to end such trade as part of a campaign against Tehran’s nuclear program. Other European Union countries, including Spain and Italy, are phasing out Iranian imports because of sanctions, but none became as reliant on Iran as Greece. Greek refiners relied on Iran for more than half of its oil imports during some months last year. Hellenic accounts for around 70 percent of the country’s refining capacity with three refineries processing around 310,000 barrels per day. The Iranian flows to Greece dried up in March when EU banks refused to facilitate payments as a result of financial sanctions.

Then, Vitol and Glencore emerged as willing to enter open credit deals with Hellenic. Other firms shied away from

making prolonged links, occasionally selling on a spot basis.

The trading houses are sourcing oil from Russia, Kazakhstan and Libya with Glencore supplying two tankers of Russian Urals crude, two Kazakh Caspian blend cargoes and one with Libyan crude a month.

Vitol is supplying one or two cargoes of Urals taking total monthly volumes of supplies by the two traders to about 150,000 barrels per day valued at about $500 million monthly covering over a half of Hellenic’s crude needs.

Not for the faint-hearted

Traders estimated the potential premium Glencore and Vitol is likely to be charging at 50 US cents a barrel or more, which would result in an additional payment of at least $2.2 million per month. “It’s not for the faint-hearted, given that European banks cancelled letters of credit a while ago,” said a trader at another Swiss-based trading house. His firm tried to supply Hellenic but found it impossible to take out insurance on these deliveries.

Both Vitol and Glencore declined to say whether they would continue supplies if Greece defaults and leaves the euro zone. Both traders have a long history of taking on risk in exchange for hefty premiums when supplying crisis and even war-stricken countries - including Libya last year.

Both Glencore and Vitol have been buying hard assets including refineries and some traders speculate they might be interested in acquiring Hellenic, partly state-owned and slated for privatization. The companies declined comment on that prospect. Hellenic generates profits despite falling fuel demand in austerity-hit Greece. -Reuters

Japan’s Iran crude imports dive 65.5% in April

TOKYO: Japan’s crude imports from Iran fell 65.5 percent in April from a year earlier, ahead of deeper declines that may come from July due to the difficulty in doing business with the Islamic Republic as Western sanctions bite.

The double-digit decline was partly because of the timing of shipments clearing customs. Last month, Ministry of Finance trade data showed customs-cleared crude imports from Iran fell only 6.3 percent in March from a year earlier.

Japanese crude buyers are making the cutbacks to comply with sanctions that make it tough to pay for, ship and insure the oil.

The United States and Europe are trying to squeeze the revenues Iran makes from oil exports in order to force it to halt a nuclear program they fear will be used to make weapons, but which Tehran says is for power generation. Japan will load about 123,000 barrels per day (bpd) in May from Iran, about the same as in April, traders said earlier this month, about 60 percent less than the 305,114 bpd average imports from Iran in the first three months of the year.

April custom-cleared imports were about 119,000 bpd.

The cuts came even after Japan secured in March a sixmonth waiver from US financial sanctions relating to Iran, and despite an increase in overall oil demand after last year’s Fukushima nuclear disaster.

Still, Iran’s oil exports, which were up to 2.2 million barrels per days last year, have not dropped further in May after falling sharply since March, industry sources said this month, as core customers in Europe and Asia continue to buy ahead of the application of European sanctions.

South Korea imported almost 60 percent more crude from Iran in April than in March, pushing purchases to their highest level this year and reversing a decline that began in January after the United States announced its restrictions against Tehran, official data showed on Tuesday.

China, the world’s second biggest oil consumer and another major Asian buyer of Iranian crude, increased its oil imports from Iran by 50 percent in April compared to March after both sides resolved a pricing dispute.

EU sanctions

The European Union’s sanctions on Iran will take effect in July. These are making it impossible for Japanese buyers to find insurance cover for ships carrying Iranian oil because they rely on insurers and reinsurers from Europe, and could severely curtail loading. Government officials have said Tokyo may provide the cover if its lobbying fails to convince the EU that it should remain exempt from a ban on insurance and reinsurance of Iranian crude imports.

Iran and world powers have agreed to meet again next month to try to ease the standoff over Tehran’s nuclear program despite achieving scant progress at talks in Baghdad.

Wednesday’s custom-cleared data from the Ministry of Finance showed crude imports from Iran in April totaled 564,962 kilolitres (118,450 barrels per day), down 65.5 percent on a year earlier and down 67.7 percent from March’s 1,751,737 kiloliters (355,422 bpd).

Overall customs-cleared crude oil imports rose 12.9 percent from the same month a year earlier to 19.2 million kilolitres (4.0 million bpd), the data showed.

More-closely watched monthly data from the Ministry of Economy, Trade and Industry (METI) on the country’s demand and imports of oil is due on Thursday. The METI figures take into account shipments to refineries and oil terminals and often differs from the customs data. -Reuters

NETS builds on strong relationship with KOC

KUWAIT: Networks Electrical Technical Services (NETS) feels honored and privileged to continue a cherished professional relationship with the Kuwait Oil Company (KOC) by building on our past successes in major KOC projects and the Intelligent Physical Layer Management System (IPLMS) Phase I by providing a totally integrated solution for all of their Voice, Fax and Data transmissions in the new IPLMS Phase II Project which Nabil K. Siddiq, Managing Partwas awarded and signed bener of NETS tween KOC and NETS in March 2012 which happens to coincide with our celebrations to commemorate our first ten years in business. This was stated in a press release on Wednesday.

Six years ago KOC was the first government agency to select the CommScope/SYSTIMAX Solutions and NETS partnership to provide an Intelligent Patching solution to support their Categories 6 & 6A Structured Cabling. This state of the art technology provides the IT managers with a real time health check of the status of the network, added safety and security in mission critical installations such as in the oil industry by monitoring unauthorized interference and intrusion including cost savings by minimizing any possible downtime by almost immediate restoration of services. By completing the above new project NETS will have provided Intelligent Patching through the IPLMS Projects for almost 95 percent of approximately 275 KOC sites such as the Ahmadi Main Office Complex, Burgan Complex, Al Tameer Buildings, IT Center, Ahmadi Hospital and West Kuwait.

Our stability and growth over the past ten years is as a result of our successes due to the vision of always putting the Customer first and providing Skilled staff allows NETS General Trading & Contracting Company to engineer, procure, supply, install, test & commission similar Intelligent Structured Cabling Solutions with pride and confidence from project completion with such after sales support services as: • Manufacture trained and certified engineers & technicians.

• Skilled on site support for new services and long term maintenance.

• Provision of software upgrades.

We utilize the latest technology of Copper and Fibre Optic manufactured by CommScope/SYSTIMAX Solutions, USA. This provides a platform for all of the CISCO Servers, routers and switches, IP based services, BMS and smart building intelligent services.

Our valued Clients include both government agencies and the private sector includes the PAAET. Educational Campuses, the Hilton Hotel with The Olympia Mall &, the United Tower, the Symphony Hotel & Commercial Complex and many Financial Institutions and banks such as the National Bank of Kuwait (NBK) and many others. All of these projects are supplied with original materials designed and manufactured in the United States of America.

ALWATAN DAILY

BUSINESS

BlackBerry Curve 9320 introduced into Kuwaiti market

Nancy Oteifa Staff Writer

KUWAIT: Research In Motion (RIM) unveiled the brand new BlackBerry Curve 9320 Smartphone at an exclusive media and blogger event at JW Marriot Wednesday. As part of a regional product roadmap update and a sneak-peak look at some of the exciting new products to be launched in the Middle East in 2012.

Sandeep Saihgal, Managing Director, Middle East at RIM and Mohammed AlMefleh, Director of Product Management, Services and Platforms, Middle East at RIM shared updates on, the BlackBerry footprint, success story and partnerships across the Middle East and Kuwait .New product launches including the BlackBerry Curve 9320, BlackBerry Curve 9220 and BlackBerry 7.1 OS and RIM’s future product roadmap, including the BlackBerry PlayBook 3G and a special preview of the BlackBerry 10 OS and BlackBerry 10

RIM’s new BlackBerry Curve 9320 Smartphone

Smartphone devices. Saihgal said during the event “Powered by the new BlackBerry 7.1 OS, the stylish 3G connected BlackBerry 9320 Smartphone has everything that socially-connected customers need to stay in touch with the people and things that matter most to them. Fans of BlackBerry Messenger(BBM), which is loved and used by 97 percent of BlackBerry Smartphone users in Kuwait, can now use the all-new dedicated BBM key to get in touch with their network at the touch of a button.”

He added, “Other key features of the Curve 9320 include a built-in FM radio that allows users to tune in to their favourite local stations and listen to some foot tapping music where ever they are; an integrated camera with flash, video recording and picture location tagging using the Smartphone’s built-in GPS; and a long battery life to make it possible to stay connected for longer.

Saihgal told Al Watan Daily that BlackBerry is the first smartphone in Nigeria, South Africa, UK and Indonesia. There are more than 78 million subscribers worldwide. There are more than 56 million subscribers for the BBM service worldwide.

We have 650 partnerships in 175 countries. Also there is 400,000 app recorded worldwide. Two million downloaded from BlackBerry App. We sold 190 million devices worldwide till now.”

He noted that the BlackBerry devices are growing rapidly in the Middle East, where there is an increase of 119 percent in terms of sales from March 2011 till March 2012. Meanwhile, 68 percent of BlackBerry sales are from markets outside US and UK. The percentage of the BlackBerry spread in the region to reach 98 percent. We deal with more than 30 telecommunication companies in 11 countries. The BBM services spread reached 97 percent in the region.”

Egypt bourse awaits Mubarak verdict, Gulf cautious

CAPITALS: The verdict in the trial of ousted President Hosni Mubarak, due on Saturday, is a new cloud hanging over Egyptian stocks which were hammered this week after the country’s two most divisive figures made it to the presidential election run-off.

Mubarak, 84, was charged with graft, abuse of power and ordering the killing of protesters during the 18-day uprising that ousted him on Feb. 11, 2011. Court hearings in the trial concluded earlier this year and the verdict is due on June 2.

A not-guilty verdict would probably work against Ahmed Shafiq, who was Mubarak’s last prime minister, in the presidential election run-off but analysts say any violent street protests against such a verdict could work in his favor.

“The consequences of Mubarak’s verdict could be huge, whether for Shafiq’s candidacy or for the street,” said Ahmed Abu Taleb of Pharos Securities. “Next week all depends on Saturday’s verdict.

Volatility will be high.”

The benchmark index lost 3.5 percent on Sunday and 1.3 percent on Monday after it became clear that Ahmed Shafiq, a 70-year-old former air force chief, would be pitted against senior Muslim Brotherhood official Mohamed Mursi in the June 16 and 17 run-off vote.

The index fell a further 1.1 percent on Tuesday to a six-week low after an arson attack on Shafiq’s headquarters added to the tension surrounding the landmark election.

“I don’t think anyone is paying attention to individual stocks. They are just looking at the political situation,” said Mike Millar, head of research at Naeem

11

THURsday, may 31, 2012

Brokerage.

An exception might be Orascom Construction Industries (OCI), which plans to separate its construction and fertilizer businesses into two new companies. It got shareholder approval on May 17 and is now awaiting a final go-ahead from the regulator.

The market could also be affected by any number of other political events, Abu Taleb said.

“Foreigners have been dumping for the last few months. Only some speculative Arabs have been buying,” he said.

Gulf stocks

Gulf investors will remain cautious next week as eyes are trained on developments in the euro zone’s spiraling debt crisis, while trading volumes will be depressed as many investors and traders escape the summer heat.

A lack of regional news has seen local bourses track declines on global markets but volatility has lessened in lackluster trade. Many institutional investors are waiting for clarity on the global front before they can increase positions.

Saudi Arabia’s market, the largest in the Arab region with a market capitalization of 368 billion US dollars, is seen holding its ground though, with chances of gains in the coming sessions following recent declines.

“The short-term view may be slightly dull due to summer, but we feel a small rebound is likely in Saudi next week given that the market is oversold and selling pressure has abated,” said Sleiman Aboulhosn, assistant fund manager at Al Masah Capital. -Reuters

Wednesday 30 May, 2012 Index Price index Weighted Index KSX 15

Change Ÿ Ÿ Ÿ

33.80 1 99 1.99 3.14

Volume

Last Closing

High

Low

6,241.42 408 48 408.48 978.92

6,207.62 406 49 406.49 975.78

6,241.42 408 48 408.48 980.38

6,183.48 404 86 404.86 968.83

Trades Value (KD)

Trades

Security

High

MARIN

134

134

30

4

1

IKARUS

190

180

81,120

14,602

4

0

0

0

0

0

IPG NAPESCO

Low

Closing

Last

134

188 0

0

Change

ź Ÿ ŷ

Low

Volume

Trades Value (KD)

Trades

URC

106

104

567 101 567,101

58 979 58,979

21

NRE

128

126

688,694

87,116

19

0.0

SRE

265

260

63,500

16,653

4

PEARL

36

31

552,608

18,433

29

2.0

TAM

0

0

0

0

0

AREEC

0

0

0

0

0

0 38

0 36

0 1,177,350

0 43,451

0 41

8.0

0.0

0

0

0

0

0

128

124

80,001

10,000

3

GPI

63

61

80,102

4,966

5

ABAR

200

182

22,600 263,853

4,434 34,006

12 25

196 958.03

Ÿ Ÿ

4.0 6.70

MASSALEH ARABREC UREC

0

0

0

0

112

108

40,001

4,374

6

112

Ÿ

2.0

ERESCO

94

91

519,469

48,050

MABANEE

980

960

1,072,118

1,035,153

36

INJAZZAT

65

61

101 350 101,350

6 244 6,244

10

INVESTORS

20

19

11,371,404

216,188

161

56 83

52 82

33,676,052 168,025

1,794,384 13,799

299 5

Oil & Gas PIPE KFOUC

63

0

Ÿ Ÿ

0.0

Last

104

128

Change

ŷ Ÿ

265

ź

0

ŷ

35 0

Ÿ ŷ

0

ŷ

0.0

ŷ

0.0

61

ź

980

Ÿ

0

0

0

882 887 882,887

35

0

0

0

0

0

218

214

283,332 1,755,865

61,057 948,318

35 76

218 992.22

Ÿ Ÿ

2.0 8.47

IRC ALTIJARIA SANAM

61

60

110,000

6,615

4

61

ŷ

KCEM

0

0

0

0

0

0

ŷ

0.0

AAYANRE

86

84

707,000

59,840

42

86

Ÿ

REFRI

0

0

0

0

0

AQAR

94

94

5,000

470

1

CABLE

ALQURAIN Basic Materials

1,240

1,220

37,476

45,726

10

SHIP

206

200

359,335

72,798

35

PCEM

880

860

141,510

121,787

18

PAPER

0

0

0

0

0

MRC

130

122

50,400

6,152

4

ACICO

242

242

1,000

242

1

GGMC

760

750

10,249

7,688

8

HCC

228

228

1

0

1

KPAK

0

0

0

0

0

KBMMC

0

0

0

0

0

NICBM

248

248

2,568

637

1

EQUIPMENT

0

0

0

0

0

NCCI

0

0

0

0

0

122

122

1

0

1

GYPSUM

0

0

1,220 200

880

ŷ

ŷ ź ź ŷ

0

ŷ

242

Ÿ

130

ź

750

ź

0

ŷ

228 0

Ÿ ŷ

248

ź

0

ŷ

0

ŷ

122

Ÿ

400

ŷ

34

0.0

0.0

-20.0

ALAQARIA

0

0

0

0

0

-10.0

MAZAYA

78

76

228,150

17,673

22

ADNC

0

0

0

0

0

0.0

THEMAR

87

87

4,818

419

2

GRAND

0

0

0

0

0

4.0

TIJARA

41

39

1,332,646

52,961

48

TAAMEER

47

44

436,067

19,258

28

0.0

-2.0 -50.0 10.0

1

ABYAAR

46

45

3,741,875

168,151

64

MUNSHAAT

35

33

1,339,149

46,078

43

FIRSTDUBAI

37

36

701,000

25,386

17

KBT

0

0

0

0

0

10.0

REAM

0

0

0

0

0

MENA

41

41

10

0

1

0.0

ALMUDON

0

0

0

0

0

MARAKEZ

51

51

1

0

1

-2.0 10.0

REMAL Real Estate

0

0

0 59,840,310

0 3,803,014

0 942

0 971.80

KINV

102

100

131,000

13,122

8

102

FACIL

275

275

325,000

89,375

6

IFA

44

42

24,498,404

1,051,250

353

0.0

NINV

124

120

1,247,461

151,441

77

KPROJ

325

320

73,570

23,543

12

1.0

COAST

49

48

309,111

14,703

25

TII

0

0

0

0

0

0.0

2.5

5,010

170

7

1,547,933

614,554

52

EDU

118

118

5,000

590

1

CLEANING CITYGROUP

130 485

126 450

453,500 19

58,141 9

38 2

KGL

110

104

593,800

64,637

22

110

ŷ

0.0

KCPC

340

325

152,128

49,863

16

340

ź

-10.0

HUMANSOFT

0

0

0

0

0

NAFAIS

97

90

560

54

3

SAFWAN

0

0

0

0

0

GFC

0

0

0

0

0

MAYADEEN

21

20

47,608,179

976,445

285

1,340

1,280

3,115,849

3,991,583

26

CGC MTCC

90

88

678,291

60,343

45

UPAC

330

330

15,000

4,950

2

ALAFCO

290

280

1,012,071

289,946

26

MUBARRAD

0

0

0

0

0

LOGISTICS

285

280

454,000

127,621

23

SCEM

83

81

270,000

22,185

19

97 0

0

21

1,320 89

ŷ Ÿ ŷ ŷ Ÿ Ÿ ź

330

ź

0

ŷ

285 285 81

96

ź ŷ ŷ

0.0

5.0 0.0

40.0 -1.0

SECH

0

0

0

0

0

-20.0

IIC

0

0

0

0

0

SGC

140

130

9,421

1,230

7

0.0

IFC

99

96

3,077,027

298,393

74

MARKAZ

116

114

522,000

60,268

12

KMEFIC

0

0

0

0

0

-5.0 0.0

0.0

3.0

GCEM

97

92

1,155,990

110,265

39

68

65

1,597,521

106,669

24

FCEM

92

88

56,000

4,952

6

RKWC Industrials

114

110

40,010 59,363,401

4,401 6,742,406

4 719

114 937.15

Ÿ Ÿ

4.0 4.17

KSH

250

236

11,156

2,775

4

250

Ÿ

8.0

NSH

0

0

0

0

0

PAPCO

108

106

6,000

640

2

CATTL

0

0

0

0

0

DANAH

90

87

486,140

42,847

20

POULT

88

Ÿ

-6.0

QCEM

67

Ÿ ź

0

ŷ

0

ŷ

108

Ÿ

90

Ÿ

116

-1.0

3.0

KAMCO

275

240

3,004

721

3

NIH

46

41

5,000

223

5

ISKAN MADAR

0 0

0 0

0 0

0 0

0 0

-10.0

KCIN

1,020

940

2,601

2,445

6

940

ź

-50

KHOT

162

162

37,657 3 6

6,100 6 100

1

SULTAN

102

102

130,000

13,260

11

0

0

0

0

0

0

MUNTAZAHAT

0

0

0

0

0

400

395

11,127

4,428

5

SOOR

0

0

0

0

0

FUTUREKID

0

0

0

0

0

ALNAWADI

JAZEERA

0

285 0

ŷ ź ŷ

400

Ÿ

0

ŷ

0

ŷ

0

102

ŷ

50

710

700

427,157

299,659

34

710

ŷ

0

2,180

2,160

15,264

33,170

8

77

3,525,984 3,968,405

273,114 605,943

133 175

78 910.62

ŷ ź

0 -5.65

1,060

Ÿ

20

86

1,564,000

134,625

39

66

1,990

131

2

SHOP SENERGY

0 77

0 75

0 482,000

0 36,450

0 15

AGHC -40

25,000

14,600

Brand value stands $ 9.206 million

880 265

62,686 204,000

55,186 54,210

BURG

430

420

746,724

318,095

KFIN

750

740

860,982

643,285

BOUBYAN

610

600

98,984

59,616

18

UGB

188

172

1,158

214

3

Kuwait City, 30 May, 2012: IKEA has been ranked at no. 89 in the BrandZ Top 100 Most Valuable Global Brands by a report released by WPP’s BrandZ and appeared in the top risers ranking for the second consecutive year.

The brand value of IKEA for 2011 rose to 26 percent and so, currently stands at an impressive 9.206 million US dollars, the rise in brand value reflecting both the strengthening of the housing market and operational improvements implemented during the recession. This was stated in a press release on Wednesday.

The BrandZ report focuses on market-facing brands that generate revenue and profits through the sale of goods and services directly to consumers or business customers, establishing the value of the brand.

IKEA entered the BrandZTop 100 as the housing market strengthened somewhat and consumers in struggling economies responded to IKEA’s value for-money, ready-to-assemble furniture proposition. The brand also enjoyed strong sales in China. Brand loyalty and power did make a difference in some parts like the USA where in strong brands such as IKEA enabled companies to endure continued economic weakness and thrive in the transition to recovery.

With brand value increase of 26 percent, IKEA was among the top risers based in part on the steady housing recovery.

AUB ITHMR

168 43

166 41

74,000 74 000 30,654,291

12,338 12 338 1,309,417

6 408

32,971,017

2,720,203

560

985.68

Ÿ

9.25

0

ŷ

0

4

590

Ÿ

30

7 7

880 265

ź ź

30

425

-10 10 -5

ź

-5

53

750

ŷ

0

AINS

0

0

0

0

0

WINS

128

126

630

80

2

0

0

0

0

0

KUWAITRE

0

0

128 0

0

ŷ ŷ Ÿ ŷ

0 4

0 3

0.0

0.0

2.0 0.0

0.0

FTI

0

0

0

0

0

94

90

63,700

5,805

6

ARIG

0

0

0

0

0

BKIKWT Insurance

0

0

0 64,330

0 5,885

0 8

0 1118.67

ŷ ź

0.0 -1.14

AINV

0

0

0

0

0

0

ŷ

0

SOKOUK KRE

0 53

0 53

0 1,276,000

0 67,628

0 14

0

0 53

ŷ

5 0

WETHAQ

94

ź ŷ

ŷ ź

5

87

570

0

22

17,990

66

890 270

0

22,337

315,000

UIC

590

0

332,136

57

BIIHC

ALMUTAHED KIB

0

66

58

0

ABK

0

68

MANAFAE

66

Ÿ ŷ

GINS

KCIC

525

410 750

0

1 2

585,513

2 1

0

0 4

1 157 433 1,157,433

1,000 3,003

0

1 63

2,671,901

2,457 4,004

0

34 65

36,610,405 36 610 405

405 750

0

34 70

30

410 750

KINS

KSHC STRATEGIA

218

GBK CBK

Banks

2

33

21

ŷ Ÿ

3,337 3 33

222

249,238

168 43

20,100 20 100

NIND

236,731

Ÿ

166

MANAZEL

1,040

186

168

0

1,060

ŷ

ŷ

0

0 10.74 -10.74

610

ŷ

0

0

ŷ ź

HITSTELEC 79 Telecommunications

0

0

0

0 948.73

ź

0

0

0

0 45

2,160

0

0

0 42,117

NMTC

0 0

0

0 306,944

ZAIN

0 0

0

0

-1.0 00 0.0

0.0 -1.0

Ÿ ŷ

0

0

0

ź

0

0

0

92 0

ALMADINA

0

KOUTFOOD Consumer Services

ŷ

248

NOOR

MASAR

0

ŷ

67

ALIMTIAZ

0

2.5

0.0 0.0

261 0

0

0

0.0

-10.0

333,106

0

0

0.0

1,060,535 0

31

0

1.0

0.0

1,339,544

0

0

0.0

11,803,770 0

43,370

0

0.0 1.5

88 0

0

0

2.0

2.0

248

941,797

0

0.0

92 0

0

0

0.0

0.0

255

44

UFIG

Ÿ

2.0

ALSALAM

0

ZIMAH

ŷ ŷ

-10.0

EKTTITAB QURAINHLD

48

-4 4

0 0

0.0

0.0

1.0

GNAHC

0

ź

0.5

0.0

0.0

AMWAL

10

ŷ

0.0

Ÿ

5

0

ŷ

0.5

-2.0

ŷ

0

11,220 11 220

ŷ

0.0

0

0

0

0.0

1.5

39

0

110,000 110 000

-1.5

0

0

0

0.0

0.0

43

0

102

2.5

0

0

0

0.0

0.5

67,034

0

0

1.0

10.0

0

0

0

1.5

-2.5

1,760,704

0

0

0.0

0

0

-10

0.0

0.0

38

EXCH

102

0

ŷ Ÿ

240 46

0.0

1.0

0

TAIBA

0

0

1.0

-5.0

39

0

-25

0

0.0

ALDEERA

TAMINV

0

0

3.0 0.0

ALSAFAT

0

ALRAI

0

ź

Ÿ

0

5 24.95

10

47 33

Ÿ

0

Ÿ Ÿ

0

144

ŷ

0

460 1204.99

3,443

0

34

ŷ

0

3

0

0

ŷ

0

16 19

12,259

116

ź

0

3,955

0

Ÿ

0

230,041 233,996

275

99

130

0

4,940

0

ŷ

0

505,540 510,480

285

ŷ

0

0

455

OULAFUEL

ŷ

OSOUL

750

MASHAER

Ÿ

KFIC

460

ź

ŷ

0.0

6.0

850

ŷ

0

ź

0

YIACO Health Care

0

0

Ÿ

0

ATC

370

48

0.5

2.0

0

0

0

325

-2.0

Ÿ ŷ

0

ŷ

2

18 159

120

10.0

0.0 5.53

0

0

0

11,565 355,026

43

0.0 1.0

ŷ Ÿ

GLOBAL

0

1,221

252,503 10,993,486

275

Ÿ

0.0

0

0

45 31

51

ź

Ÿ

0

3,300

47 33

ŷ

ŷ

0

0

ALMAL GIH

0

41

0

0

370

4

ŷ

38

MHC

0

6,483

0

0

0.0 6.14

370

45,376

Ÿ

11

ŷ Ÿ

IFAHR

142

ŷ

0

1,300 955.29

EYAS

144

0

37

5,545

2 29

ŷ

ALOLA

Ÿ

0

1

ŷ

84

ŷ

34

149,205

0

0

0

94,718

Ÿ

0

24,679 70,941

102

0

2,931,063

Ÿ

37

1

CABLETV

0

31

ź

0

19,124 522,421

ŷ

0

34

Ÿ

38

116

162

0

ALAMAN

45

ŷ

BAYANINV

1,280

Ÿ

AIG

188

ŷ

AAYAN

116

850

ź

2.0

1,300

FOOD Consumer Goods

91

1

0

34

0

44

84

390

ź Ÿ

0

40

1

0.0

ŷ

ŷ

0

922

0.0

ź

87

91

-7.0

Ÿ ŷ

Ÿ

188

34

130 485

0

Ÿ

78

91

400

ź

94

188

SALBOOKH

118

55 83

ARGAN

AGLTY

Ÿ

20

ARKAN

0.0

0.0

93

1 432 532 1,432,532

ALKOUT

0.0

0

0

10.0

1.5

28

610

Ÿ

2.0

-5.0

ŷ Ÿ

0

630

00 0.0

0 38

630

BPCC

ŷ

1.0

NBK

IKEA listed in ‘Top 100 Most Valuable Global Brands’

High

339,719,246 24 920 666 24,920,666 5,559

AREFENRGY

128

ŷ

-6 0 -6.0

Security

Volume Value (KWD) Number of Trades

168

Ÿ

0

ŷ

70

ŷ

57

ź

0

ŷ

0

ŷ

0

34

68 47 0

33

ŷ Ÿ Ÿ Ÿ ŷ Ÿ

218

ź

66

ź

86

0 77

ź ŷ Ÿ

136

130

2,694,091

354,902

67

136

ŷ

ALSAFWA

0

0

0

0

0

0

ŷ

KPPC

77

74

6,894,121

519,264

75

TAHSSILAT JEERANH

75 87

75 83

1 3,551

0 297

1 4

76

75 87

Ÿ ź ź

-2.0 3.0 0.0

0.0

0.0

2 2.0 0

0.0

0.0

2.5

0.0

2.0

-1.0 1.5

0.0

0.0

0.0

2.5 25

-2.0

-1.0

-1.0 0.0 2.0 0.0

0.0

2.0

-5.0 -1.0 0.0 0 0

EKHOLDING

0

0

0

0

0

0

ŷ

GFH

47

45

61,885,471

2,826,609

665

47

Ÿ

INOVEST Financial Services

58

55

5,900,484 179,793,761

332,997 9,673,540

163 2,914

56 938.46

Ÿ Ÿ

1.0 8.22

MAREF 0 Investment Instruments

0

0 0

0 0

0 0

0 0.00

ŷ ŷ

0.0 0.00

490

Ÿ

25.0

ASC

490

475

24,150

11,717

9

SAFTEC

78

71

30

2

3

FUTURE

242

234

2,149

504

3

HAYATCOMM Technology

118

118

202,000 202 000 228,329

23 23,836 836 36,060

15 30

78

242

118 1179.21

Ÿ ź

2 2.0 0 30.84 0.0

0

0

0

0

0

0

ŷ

AFAQ

0

0

0

0

0

0

ŷ

ALSHAMEL

0

0

0

0

0

SAFRE

22

19

36,003

704

3

AJWAN

0

0

0

0

0

SPEC

0

0

0

0

0

MASAKEN

40

37

91,578

3,393

12

DALQAN

0

0

0

0

0

ALEID

0

0

0

0

0

MIDAN FLEX

0 0

0 0

0 0

0 0

0 0

22 0

ŷ ŷ ŷ

0

ŷ

0

ŷ

37 0

0 0

2.0

-2.0

Ÿ Ÿ

BAREEQ

0

2.5

ź ŷ ŷ ŷ

0.0

0.0

0.0

0.0

0.0

-1.0 0.0

00 0.0

0.0 0.0

THURAYA

0

0

0

0

0

0

ŷ

0.0

KCLINIC

55

55

2,549

140

2

55

ź

-5.0

AMAR Parallel Market

0

0

0 130,130

0 4,238

0 17

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

0 958.71

ŷ ź

0.0 -6.19

STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY THURsday, may 31, 2012

April 2009 May21, 30, 2012

1% 6%

1% 6% Oman Qatar

Oman

105

0%

95

95

90

Bahrain Qatar

Abu Dhabi Dubai

90 29-Mar-12 30

29-Apr-12 30

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

-6%-2

19-Apr-0

Country (Index)

% Chg.

YTD

52 Wk High

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

2,450 5,250

-0.2% -4.0%

1.9% 9.3%

2,775 10,090

2,293 4,130

17 2,183

Qa UAUAE Qatar (DSM Index) (ADSM Index)

8,473 2,695

0.0% 0.6%

-3.4% 12.8%

8,892 5,148

8,071 2,137

56 122

Ba Qa Bahrain Qatar(BSE (DSMIndex) Index)

1,137 5,590

-0.3% 3.9%

-0.6% -18.8%

1,351 12,627

1,129 4,230

Jo Jordan (Amman General Index)

1,884

-0.3%

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

OmOman UAE(MSM (DFMIndex) Index)

408

1,471 406

5,787 1,745

Eg Egypt (EGX 30 Index)

OmOman (MSM Index)

Ba Bahrain (BSE Index)

M Morocco (Casa All Shares Index)

Eg Egypt (Hermes Egypt Index (HFI))*

Le Lebanon (Beirut SE Index)

Jo Jordan (Amman General Index)

Pa Palestine (Al-Quds Index)

M Morocco (Casa All Shares Index)*

Tu Tunisia (Tunis SE Index)

Le Lebanon (Beirut SE Index)* *Market Closed

Pa Palestine (Al-Quds Index)

4,686

5,478

1,681

10,136

463

1,157

2,825 451

10,621

5,039

1,094 546

Tu Tunisia (Tunis SE Index)* * Market Closed

3,282

%-0.8% Chg.

8.7% YTD

0.5%

-0.3% 1.8% 0.6% 1.9% 0.0%

5.1% 0.4%

-0.3%

-0.6%

-

2.2%

-0.4%

-0.3%

-

-

0.9% -

0.7%

444

8.7% -0.2%

1,754 787

1.6% 6.6%

6,082 5,860

29.4%

5,628

0.7%

-5.5%

-6.8%

-8.8%

8.5%

-1.6%

12,109 2,162

2,903

12,203

1,033

1,371

2.4%

5,044

-5.4%

513

-3.3%

14,635

23.6%

739

5.9%

5,141

-7.2%

2,119

13.6%

3,418

52 Wk 5,916 Low

Turnover USD million

Index 6,975 Level

52 Wk 7,931 High

52 Wk Low

396

Turnover 1,730 USD million

Mkt. Cap. 364,421 USD million

89

1,301 316

64,742 264,263

12 305

3,587

59

4,224

1,572 328

-

1,154

2,551 451

9,406

-

4,116

1,043

-

2,837

-

407

4

12.33

63,640

7.67

1

1

12.71

1.51

1.29

2.86

1.56

9,687

16.45

0.80

2.15

8.96

59,990

1.06

18.36

8,507

2

1.68

6.13

33,782 2,444

2

1.30

14.54

10,295

67

3.95

1.82

6.47

2,079

0.86

8.67

6,576

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

Close

703 Zain - Saudi Arabia

IFA IFA Hotels & Resorts

225 Saudi Industrial Inv. Grp.

101 Riyad Bank

Tadawul Index 52 week High / Low

105

SAR 24.70

-6.4%

99

123,625,504

Turnover (USD)

104,809,180

201 Saudi Basic Industries Corp. (KSA)

343,553,085 66,996,649

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

119,955,261 30,886,506

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

97,126,838

NBKNational Bank of Kuwait (KUW)

88,742,222

20Saudi Basic Industries Corp.

S&P GCC Large/Mid Composite

251,257,532

1 Alinma Bank

29-May-12 30

% Chg.

103.00

2.5%

90.75

1.1%

34.80

2280.SSE Almarai Co.

0.6%

68.50

4190.SSE Jarir Marketing Co.

0.4%

155.00

Turnover (SAR) 1,323,231,288 7030.SSE Zain - Saudi Arabia 463,632,728 4300.SSE Dar Al Arkan Real Estate Dev. Co. 393,065,866 4280.SSE Kingdom Holding Co.

43Dar Al Arkan Real Estate Dev. Co.

29-Apr-12 30

Close

0.0%

Worst Performers

70Zain - Saudi Arabia

29-Mar-12 30

64,280,166

3030.SSE Saudi Cement Co.

Highest Turnover

97

95

-6.8%

352,833,450

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

1,366,689,125

Market Cap. (SAR '000)

-4.9% -8.9%

Turnover (USD)

MENA Highest Turnover

6,488,154

-6.4%

-4.0% -8.6%

703 Zain - Saudi Arabia (KSA)

7,931 / 5,916 1060.SSE SABB

Turnover (SAR '000)

8.0%

KWD 0.240 SAR 48.00

SAR 13.70

GCC Highest Turnover

0.15

Advance/Decline Ratio

3.1%

8.0%

% Chg.

AED 2.71 SAR 22.95

58% 3050.SSE Southern Province Cement Co.

% of stocks trading above 1yr avg. price

3.1% 8.6%

BHD 0.530 -13.1% -5.4% KWD 0.265

6,975 (-0.8%)

Tadawul Index (% Chg.)

115

4.4% 8.8%

KWD -6.3% Close0.370 % Chg.

EMAEmaar Properties (UAE) Best Performers

Summary

5.4% 9.8%

SAR 9.50

KFI Kuwait Finance House (KUW)

Rebased Performance

85 29-Feb-12

MENA Worst Performers

0.88 201 KAM KIPCO Asset Management 1.74 Saudi Basic Industries Corp. Co.

8.07

52,794

OMR 0.720

GCC Worst Performers

1.94 FAC NBB National Bank of Bahrain 1.37 Commercial Facilities Co. 1.62 CBD Commercial Bank 0.88 238 Rabigh Petrochem. of Dubai

9.50

26,005

18,727

4

1.00 1.77

9.54

15,024

8

9,747

0.70 1.52

8.98 8.85

46

1.84

10.27 6.87

54,340

QAR 21.60

BKMBankMuscat

PB

10.22 9.99

17,093 65,352

18,010 37,413

OMR 1.295

QGTQatar Gas Transport Co.

PB1.43

11.57 7.29

KWD 1.320 QAR 6.35

RCCRaysut Cement Co.

PE 15.80 8.09 10.24

31,083 98,547

2 196

1,879

Trailing

127,751 69,783

KWD 0.188 OMR 0.703

CG Combined Grp Contracting Co. KCB Al Khaliji Commercial Bank

11.78

100,059

28 718

5,419 1,433

PE

KWD 0.590 SAR 5.60

IKAGalfar IkarusEngineering Petroleum Industries Co. GEC & Contracting

Trailing

Mkt. Cap. USD million

% Chg.

USD 0.155% Chg. 6.9% Close

ABK Al Ahli Bank Kuwait 3 428 Kingdom Hldg.ofCo.

Period's Liquidity Ratio (PLR x)*

Index Level

Close

4 ITH Ithmaar Bank

Period's Liquidity 1 Ratio (PLR x)

-1

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

Ku Kuwait (KSE Weighted Index)

GCC Best Performers

MENA Best Performers 1

MENA Indices Highlights

MENA Indices Highlights

-6%

Saudi

-1%

29-May-12 30

-1%

Bahrain

Saudi

85 29-Feb-12 85

-4%

Abu Dhabi

0%

-2%

Tunisia Abu Dhabi

Abu Dhabi

Palestine Palestine

99

100

Kuwait

Saudi Dubai Dubai

Return DailyDaily Return (%)(%)

Dubai

100 95

0%

0%

Qatar Saudi

105

2%

Kuwait

Qatar Oman

111

4%

Morocco

110

Lebanon Oman

113

110

Kuwait Kuwait

113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Egypt Jordan Jordan

115115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

115,833,662

42Emaar the Economic City

4220.SSE Emaar the Economic City 7020.SSE Etihad Etisalat Co.

Close

% Chg.

9.50

10.85

10.85 10.60

65.75

-6.4%

-4.0% -3.6%

-3.2%

-0.8%

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

Close 72.75

Daily % Chg. -0.3%

High 72.75

Low 71.75

Turnover (SAR '000) 99,090

1 Alinma Bank

12.95

-1.2%

13.15

12.85

251,258

1 Arab National Bank

27.70

-0.7%

28.10

27.70

4,256

2 Almarai Co.

68.50

0.4%

68.75

68.00

40,847

Volume ('000) 1,362

52-Week High

on high

YTD

82.75

67.25

-12.1%

71.75

48.41

-4.5%

19.7%

19,402

16.25

154

33.70

596

% Change

Low 9.05

26.60

-20.3%

-17.8%

4.7%

38.5%

26.50

11,639

439

32.90

17.20

-19.5%

33.5%

1 Banque Saudi Fransi

34.80

-0.3%

34.90

34.20

5,464

157

40.00

30.00

-13.0%

3.3%

4 Emaar the Economic City

10.60

-3.2%

10.90

10.50

115,834

13.60

6.20

-22.1%

18.20

75,232

10.80

6,445

594

20.50

30,320

1,472

28.00

21.00

-26.4%

46.50

5,552

119

56.75

42.40

-17.7%

21,763

718

1 Bank Al Jazira

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

4 Jabal Omar Development Co. 4 Jarir Marketing Co.

4 Kingdom Holding Co.

23.75

10.85

65.75

18.60

155.00

-1.9%

-4.0%

-0.8%

-1.9%

0.0%

10.85

-3.6%

2 Rabigh Refining & Petrochemical Co.

20.60

-2.1%

1 Samba Financial Grp.

46.70

2 National Industrialization Co.

1 Riyad Bank

2 Saudi Arabian Fertilizer Co.

1 Saudi Arabian Mining Co.

2 Saudi Basic Industries Corp.

3 Saudi Cement Co.

5 Saudi Electricity Co.

32.60

23.30

176.25

-0.9%

-0.2%

-0.6%

24.30

11.25

66.25

18.95

155.75 11.25

32.90

21.00

23.35

47.20

23.50

10.65

463,633

65.50

24,914

154.00

4,957

32.30

20,510

23.20

3,953

-0.1%

176.50

175.00

26,379

-0.8%

94.75

93.50

393,066

13.10

35,951

22.65

17,380

16.60

1,372

30.30

-0.7%

90.75

1.1%

91.00

89.50

93.50

13.20

0.0%

30.40

13.25

29.80

8,535

1 Saudi Hollandi Bank

26.90

-0.7%

26.90

26.50

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

19.90

-0.5%

20.05

19.75

10,926

16.00

66,952

34.50

5,563

34.10

2,343

22 Saudi Industrial Investment Grp.

Saudi International Petrochemical Co.

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

2 Yanbu National Petrochemicals Co.

7 Zain - Saudi Arabia

23.00 16.70

16.05

-0.7% -1.5%

-0.6%

23.20 16.90

16.15

2,140

40.20

-0.5%

40.30

40.00

16,501

103.00

2.5%

105.00

101.00

3,704

48.80

-0.4%

49.50

48.60

10,947

9.20

1,323,231

35.30

34.80

46.30 9.50

0.0%

0.6%

-1.3%

-6.4%

35.50

34.80

46.80

10.20

46.00

19,919

450

31.90

15.75

42,731

13.85

379

69.25

50.00

165.00

108.67

10,928 4,045 32

629

170

22.90

13.10

50.75

26.90

6.05

-25.5%

19.2%

40,208,823

-11.4%

-26.4%

18,045,600

0.2%

-11.5%

42,030,000

-19.2%

19.8%

9.4%

-7.4%

26.0%

-8.2%

8.3%

23.10

-35.8%

-13.4%

12.85

-19.0%

4,171 410 158

21.00

21.30

42.60 35.80

1.2

24.25

57.25

21.42 18.55

23.70

-1.4%

9.7

1.9

-5.0%

-8.3%

54,999,038

1.0%

42.4%

8.3%

-3.0%

-7.9%

-11.4%

13,884,750

14.7

4.8

10,676,610

9.8

1.5

22.8

1.1

10,350,000

20.9

9,185,000

12.9

80,400,000

9.4

1.6

15.1

5.9

7,296,667

1.7

9.9

1.4

nmf

1.6

1.1

23.0%

28.4%

17,650,000

13.9

6.4%

34,800,000

11.6

2.0

-4.3%

26,043,750

8.2

2.3

-3.5%

19.8%

10.7%

-30.3%

-22.5%

5.25

-17.4%

71.2%

30.1%

11.50

1.6

24,075,000

-41.4%

139,288

45.5

1.2

1.4

-12.3%

18.9%

-17.7%

28,027,500

9.7

-7.8%

47.40

41.60

1.5

2.2

280,500,000

83.25

56.25

1.5

-12.6%

224

430

7.6

nmf

9.5

-2.9%

-5.6%

-5.9%

nmf

1.9

4.9

70.00

27.82

17.2

2.5

10.8

106.75 37.00

nmf

44,062,500

3.4%

-24.6%

8.7

0.8

-2.6%

0.1%

-7.2%

18,172,168

10.6

1.4

10.6

-20.5%

15.50

-23.8%

9,300,000

26.3

34,950,000

21.1%

-18.6%

33.00

0.0%

-9.1%

17.75

15.55

-19.9%

38.4%

36

67

46,025,000

22.6%

16.30

82

nmf

-17.2%

2,724

24.45

9,010,000

11,718,000

7.05

-14.8%

25.30

36.8%

17,286,840

87.75

549

1.5

23.6%

109.75

756

10.5

7,125,000

53.1%

32.60

3.8

1.4

31,459,822

-18.8%

11.3%

1.2

-6.5%

11.10

-6.1%

10.5

3.3

2.0

26.4%

4,204

29.30

23,545,000

38.0

19.4

25.2%

44.2%

19,425,000

7,950,000

-5.1%

-11.9%

80

38.4%

21.2%

165.00

98.00

23.9

49.7%

200.00

94

27,400,000

-21.7%

150

37.50

26.7%

27.0%

25.3%

26.80

PB

14.2

40.1%

-1.5%

Trailing PE

109,125,000

-12.9%

26.50

Market Cap. (SAR '000)

-3.6%

0.7%

1 Bank AlBilad

10,693

12 mths

13.7% 5.2%

45.6%

14,420,000 9,882,000

13,300,000

11.8 nmf

2.1

2.8 3.4

STOCKS WITH NBK CAPITAL

13

ALWATAN DAILY THURsday, may 31, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,241 (0.5%)

KSE General Index (% Chg.)

115

408 (0.5%)

KSE Weighted Index (% Chg.)

49%

% of stocks trading above 1yr avg. price

KSE General Index 52 week High / Low

24,912

Turnover (KWD '000)

100

Turnover (KWD) 3,991,583 1,035,153

MMabanee Co.

90 29-Feb-12

29-Mar-12 30

S&P GCC Large/Mid Composite

B Boubyan Petrochemical Co.

882,887

A Agility

614,554

643,285

K Kuwait Finance House

30 29-May-12

29-Apr-12 30

1.320

3.1%

2.1%

0.099

2.1%

Worst Performers

C Combined Grp Contracting Co.

95

4.4%

0.196

International Finance Co.

Highest Turnover

99

5.4%

0.188

28,076,443

Market Cap. (KWD '000) 100

% Chg.

0.590

IKARUS.KSIkarus Petroleum Industries Co.

444 / 396 IFC.KSE

KSE Weighted Index 52 week High / Low

105

Al Ahli Bank of Kuwait

1.08 CGC.KSE Combined Grp Contracting Co. 6,492 / 5,694 ABAR.KSE Burgan Co. for Well Drilling

Advance/Decline Ratio

110

Close ABK.KSE

Close

% Chg.

IFAHR.KSEIFA Hotels & Resorts

0.370

-6.3%

OULAFUELOula Fuel Marketing Co.

0.285

-3.4%

SRE.KSE

0.265

KAMCO.KSKIPCO Asset Management Co.

0.240

NICBM.KSENational Industries Co.

-4.0%

0.248

Salhia Real Estate Co.

-2.8%

-1.9%

KSE Weighted Index

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (KWD '000)

A Agility

0.400

0.0%

0.400

0.390

615

T Al Themar Intl. Holding Co.

0.087

0.0%

0.087

0.087

0

A AREF Energy Holding Co.

0.128

1.6%

0.128

0.124

1.6%

0.630

0.610

883 4

A Al Ahli Bank of Kuwait

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

B Boubyan Petrochemical Co. B Burgan Bank

0.590

0.285

-1.7%

0.610

0.0%

0.630

0.425

A Burgan Co. for Well Drilling

0.196

C Commercial Bank of Kuwait

C Combined Grp Contracting Co. F Commercial Facilities Co. G Global Investment House G Gulf Bank

0.410 0.370

-6.3%

0.370

0.370

0.099

2.1%

0.240

-1.6%

0.180

1.3%

0.400

0.395

-4.0%

-

T Tamdeen Real Estate Co.

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

Z Zain Kuwait

0.099 0.275

-

5

0.102

0.079

-14.7%

0.132

0.085

1,012

0.355

99

0.610

1,433

0.630

23

0.415

1.727

325

0.355

4

-

0.530

0.410

0.192

1.182

-4.4%

-16.3%

88,088

nmf

-3.0%

20.8%

12.3%

0.0%

12.5%

-52.8%

-7.5%

-19.7% 0.0%

-17.3%

-23.6%

-6.2%

-9.5%

3.4%

-6.0%

-8.1%

656,611

12.5%

-52.8%

-23.6%

-35.7%

-2.9%

3

0.315

0.226

-23.8%

0.146

0.485

0.182

0.600

0.410

0.963

0.690

1.620

1.300

0.335

0.236

-12.2% -17.5%

-31.7%

-22.1% -19.8% -20.9%

10.6%

-12.1% -1.6%

-10.9%

-10.0% -12.2%

3.9%

3.2

147,610

10.4

0.9

-20.2%

1,079,566

38.3

2.5

-2.6%

167,936

nmf

3.5

-35.7%

79,485

-21.4%

106.2% -9.4%

-29.0%

23.9%

-24.1%

0.980

1.0%

0.980

0.960

1,035

1,072

1.020

0.709

-3.9%

25.3%

26.8%

0.248

-2.8%

0.248

0.248

1

3

0.325

0.248

-23.7%

-11.4%

-27.1%

0.120

-1.6%

0.120

-52.0%

-30.2%

-49.6%

0.218

0.128

1.9%

-0.9%

0.124

249

0.218

586

0.128

0.126

0.9%

0.218

0.214

61 13

0.265

-1.9%

0.228

-

0.285 0.265

0.0%

0.102

0.102

0.083

0.0%

0.083

0.082

2.160

-1.8%

2.180

2.160

0.170

0.710

-

0.0%

-

0.710

-

-

-

-

0.909

-4.4%

689

0.168

0.056

-23.8%

283

0.226

0.186

-3.5%

0.250

12

0.355

64

0.242

0.270

0.200

-20.7%

0.097

0.067

-14.4%

15

2.480

1.880

-12.9%

33

427

0.170

1.060

0.690

-15.6%

-15.0%

1.9

79,996

31.5

1.3

598,965

28.5

3.9

85,515

17.0

1.0

105,146

nmf

0.6

30.8%

30.8%

-33.0%

-21.1%

-31.7%

0.6

13.3

1.2

2.3 1.0

nmf

nmf

3,058,350

0.7

nmf

115,600

1,088,711

2.0

nmf

19.7

11.3%

0.7

15.2

85,071

152,290

1.3

14.3

18.9

23.9%

1.7

23.2

135,872 59,041

0.8

28.0

24.3

-8.9%

0.7

nmf

98,662

239,800

0.0%

nmf

-

13.5%

-10.6%

11.3%

10.8

434,387

28.0%

-0.9%

7.8%

522,603

282,332

26.2%

1.9%

1.7

-14.5%

27.4%

168

0.170

0.0%

18.0

4,614,707

-1.9%

-25.0%

-

-16.2%

3.6

-1.2%

-14.9%

0.093

0.216

4.1%

9.0

261,439

-12.4%

-5.0%

0.136

0.270

12.1%

-19.7%

130 -

14

0.192

-13.6%

0.275

300

0.700

1.109

1,247

17

0.260

0.281

2,672

3

0.275

0.376

237

151

0.120

1.6%

-3.4%

0.102

0.222

1.040

87

0.285 0.218

1.060

74

1.5

96,800

274,892

0.660

7.1

0.9

-20.9%

1.240

8.3

16.8

2,178,123

-14.5%

1.8

nmf

63,192

-31.7%

142

nmf

141,000

-22.1%

122 24

256,116

28.8%

0.860

0.320

1.5

14.1

0.880

0.325

11.7

140,308

-20.8%

0.096

1.4

0.8

-14.1%

0.214

4.3

nmf

28.0

152,242

0.154

nmf

41,087

176.2%

-23.8%

1.5

1.2

136.7%

1.220

1.0

5.6

34.9

0.0%

-15.6%

1.8

305,613

0.019

5.8%

3,077

204

-14.1%

0.5

19.6

96,000

0.116

-22.5%

-22.1%

54

1,066,424

954,017

-25.3%

19

3.4%

-16.7%

0.285

-

222,235

-5.1%

1.600

861

-16.2%

-18.5%

0.495

643

892,811

0.700

3

11

-7.5%

0.920

0.255

PB

15.8

-23.1%

81

PE

418,735

0.405

1

0.265

0.530

Trailing

Market Cap. (KWD '000)

12 mths 8.1%

-9.2%

6.7%

0.533

-

25

0.280

YTD

2

37

4

0.550

0.514

3,116

15

1.280

0.650

747

298

-

0.270

-7.0%

1

0.740

1.300

0.248

1

0.240

0.750

0.430

46

0.096

on high

0.0%

0.880

1.060

S Sultan Center Food Products Co.

0.0%

-

% Change

Low

1,548

80

3

1.220

0.190

0.0%

1.300

1.240

4.4%

0.325

S Salhia Real Estate Co.

89

0.405

K Kuwait Projects Co. (Holding)

A Qurain Petrochemicals Industries Co.

0.275

0.410

-1.9%

O Oula Fuel Marketing Co.

1.340

1.2%

0.265

N National Real Estate Co.

0.275 -

K Kuwait International Bank

N National Investments Company

3,992

-

0.0%

N National Industries Grp. Holding

1.280

-

0.0%

0.410

N National Industries Co.

318

High

25

10

0.420

0.116

0.275

0.750

N National Bank of Kuwait

60

0.750

3.1%

K Kuwait Finance House

M Mabanee Co.

0.600

0.750

0.400

P Kuwait Portland Cement Co.

290

0.0%

JAJazeera Airways

F Kuwait Food Co.

0.430

0.280

0.750

1.320

0.188

K Kuwait Cement Co.

0.610

15

0.182

IK Ikarus Petroleum Industries Co.

K KIPCO Asset Management Co.

0.290

0.570

0.200

1.220

IF International Finance Co.

-1.2%

0.590

2.1%

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

5.4%

52-Week

Volume ('000)

1.5

0.9

16.2

0.6

9.1

10.3

1.4

10.7

1.6

UAE Rebased Performance

Summary

Best Performers 1,471 (-0.3%)

DFM Index (% Chg.)

2,450 (-0.2%)

ADSM Index (% Chg.)

Advance/Decline Ratio

DFM Index 52 week High / Low 99

Highest Turnover E Emaar Properties E Etisalat

A Arabtec Holding

80 29-Feb-12

29-Mar-12 30 S&P GCC Large/Mid Composite

29-Apr-12 30 Abu Dhabi SE

13,852,524

S Sorouh Real Estate Co.

29-May-12 30

1.0%

0.58

0.2%

1.1%

0.3%

Worst Performers Turnover (AED) 28,191,815 CBD.DFM Commercial Bank of Dubai 20,584,540 SOROUH.A Sorouh Real Estate Co. 19,858,089 ALDAR.AD ALDAR Properties

90 85

2.91

379,434,206

Market Cap. (AED '000)

94

2.5%

0.30

165,825

Turnover (AED '000)

% Chg.

0.40

0.96

2,775 / 2,293 AIRARABIA Air Arabia

ADSM Index 52 week High / Low

100

Union Properties

27% DFM.DFM Dubai Financial Market 0.60 EMAAR.DF Emaar Properties 1,754 / 1,301 DEYAAR.D Deyaar Development Co.

% of stocks trading above 1yr avg. price

110

Close UPP.DFM

9,735,821

A ALDAR Properties

DIB.DFM

Close

% Chg.

2.71

-4.9%

1.04

-1.9%

0.99

Dubai Islamic Bank

1.89

UNB.ADSM Union National Bank

2.85

-2.0%

-1.6%

-1.0%

Dubai FM

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (AED '000)

A Abu Dhabi Commercial Bank

3.02

-0.7%

3.03

3.00

1,582

T Abu Dhabi National Energy Co.

1.17

0.0%

1.17

1.17

A Air Arabia

0.58

0.2%

0.58

0.57

A Abu Dhabi Islamic Bank

A Abu Dhabi National Hotels A ALDAR Properties

3.10

1.80

-0.6% -

D du

0.0%

0.41

0.39

2,868

0.30

1,154

3.00

2,415

2.71

-4.9%

0.30

0.3%

0.96

3.02

-0.3%

D Dubai Islamic Bank

1.89

-1.6%

E Emirates NBD

2.71

E Etisalat F First Gulf Bank

G Gulf Cement Co. M Mashreq

N National Bank of Abu Dhabi N National Bank of Fujairah

N National Bank of Umm Al Qaiwain S Sharjah Islamic Bank

S Sorouh Real Estate Co.

2.91

1.1%

0.31

3.03

1.89

2.71

2.70

0.89

-

1,642

-2.5%

-3.3%

7,283,250

7.0

0.8

0.3%

-35.7%

-18.2%

-29.4%

1,800,000

7.7

0.2

9,346

1.45

0.76

-28.3%

13.0%

-26.2%

4,248,534

4.6

0.6

-

-

0.57 -

-23.2% 0.0%

-1.0%

0.0%

-18.1% 0.0%

6,913

3.46

1.18

-17.0%

89.6%

131.8%

259

1.45

0.71

-46.2%

-22.8%

7,146

0.65

0.34

-38.5%

-11.1%

1,047 3

3,844 802

1.96

3.24

0.46

3.63

1.69

2.67

0.20

2.80

-8.2%

-16.3%

-33.8%

-16.8%

5,096

1.31

0.68

-26.7%

863

2.26

1.88

-16.4%

4.63

2.65

-41.5%

0.0%

-1.9%

41.3% 4.5%

1,365,000

nmf

-36.5%

2,640,801

-5.1%

11.3

-8.7%

-7.8%

-28.3%

-34.0%

-10.3%

-

-

4.95

3.37

0.0%

8.8%

36.4%

8.70 -

8.62 -

3,369 -

-

91

5,438

0.39

6,937

1.00 2.88

0.41 -

0.97

13,853

2.83

501

-

-

388 -

103

9.00

2.24

1.02

0.67

7.38

-21.4% -19.1%

-3.6% 12.6%

-16.0% -3.6%

70.4% 7.0%

1.63

-21.4%

-2.8%

0.80

-12.7%

6.0%

7,176,432

69,574,032 26,100,000

11.9 6.9

1.8 1.0

-8.3%

15,061,570

993,527 -

6.5%

33,631,167

-7.4%

2,816,000

-3.3%

5,445,000

2,158,695

-25.6%

2,598,750

176

3.90

2.82

-26.9%

-1.4%

-18.6%

7,112,531

4.05

3.28

-12.1%

-2.2%

-20.9%

3,547,189

17,378 -

0.50

0.24

-18.4%

56.6%

0.8

-14.1% -0.3%

16.5%

92.4%

1.0

0.6

-31.7%

-22.1%

4.5

2.4

9.0

0.67

0.53

nmf

0.3

17,725,504

1.45

1.49

1.4

0.8

-5.2%

14,007 4,709

1.5

0.4

13,805,714

-2.6%

1.1

0.9

4.3

-4.1%

7,680,000

0.5

6.9

nmf

-34.3%

1.44

8.57 6.98

5,523,934

11.8

1,739,178

-20.0%

13.2%

2,635,380

0.3%

14.3%

-11.8%

nmf

-42.6%

-2.2%

67.00

-

2.41

1,530,000

9.9

14.4

102.00

13

3.30

2,706,686

4,505,183

0

-

1.1

1.80

0.76

2

-

6.3

2.80

67.00

-

7,330,588

-

67.00

1.14

-

0.7

-1.9%

11.20 10.75

1.17

2.5%

5.2

2,340 384

36

0.0%

3.56

-14.0%

PB

16,898,704

20,585 3,343

0.88

U United Arab Bank

-12.7%

PE

5.2%

8.70 8.68

0.89

-1.0%

0.40

4,823

0.0%

2.85

1.16

7

2.92

Trailing

Market Cap. (AED '000)

8.6%

9,764

-

1.76

1,877

3.55

12 mths

28,192

4.95

0.1%

-

111

-9.0%

YTD

2.86

0.0%

8.68

2.71

1.92

67.00

-

1.78

0.94

8.83 8.79

0.0%

-

0.96

-0.1% -0.8%

U Union National Bank

* Closing Prices, Turnover and Market Cap. in USD

2.71

8.80 8.70

-2.0%

U Union Properties

1.80

2.91

0.99

T Tamweel

-

1.0%

1.21

6,130

-

202

0.0%

D Dubai Financial Market

E Emaar Properties

3,527

0.78

0.40

D Deyaar Development Co.

1.14

0.78

D Dana Gas

C Commercial Bank of Dubai

1.36

0.0%

0.78

1.80

1,480

19,858

A Arkan Building Materials Co.

A Aramex

1,732

343

2.85

0.0%

-

1.06

on high

2.69

2.89

2.87

A Arabtec Holding

-

% Change

Low

3.32

9,736

-1.9%

1.02

-

3.09

High

524

1.03

1.04

A Amlak Finance

3.12

52-Week

Volume ('000)

26.1% 0.7%

1,160,000 1,360,210

8.6

nmf

13.8

0.4

0.8

0.9

8.8

1.2

8.3

0.9

7.3

0.4

4.7

0.6

10.3

1.8

18.5 8.2

12.5 nmf

2.7

0.5 0.5 0.6

STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY THURsday, may 31, 2012

QATAR Rebased Performance

Summary

Best Performers 8,473 (0.0%)

DSM Index (% Chg.)

120

DSM 52 week High / Low

44% ERES.DSMEzdan Real Estate Co. 1.14 QEWS.DSMQatar Electricity & Water Co. 8,892 / 8,071 QIIK.DSM Qatar International Islamic Bank

Market Cap. (QAR '000)

465,243,968

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

202,574

Turnover (QAR '000)

110

BRES.DSMBarwa Real Estate Co.

QGTS.DSMQatar Gas Transport Co.

Highest Turnover

100

99

29-Mar-12 30

29-Apr-12 30

IQIndustries Qatar

9,399,457

S&P GCC Large/Mid Composite

9,032,043

C The Commercial Bank of Qatar

29-May-12 30

0.8%

49.90

0.6%

139.00

0.7%

27.45

0.6%

15.77

Turnover (QAR) 22,731,076 KCBK.DSMAl Khalij Commercial Bank 11,747,297 QTEL.DSM Qatar Telecom

B Barwa Real Estate Co. 90 29-Feb-12

% Chg.

19.95

0.3%

Worst Performers

V Vodafone Qatar

97

Close

6,565,946

Q Qatar Telecom

Close

% Chg.

17.75

DHBK.DSMDoha Bank

-1.0%

114.50

-0.8%

16.50

-0.6%

57.10

AHCS.DSMAamal Co.

CBQK.DSMThe Commercial Bank of Qatar

-0.7%

71.70

-0.4%

Doha SM

Quotes Company Name A Aamal Co.

Close 16.50

Daily % Chg.

High

-0.6%

K Al Khalij Commercial Bank

17.75

C The Commercial Bank of Qatar

71.70

-0.4%

E Ezdan Real Estate Co.

19.95

0.8%

B Barwa Real Estate Co. D Doha Bank

27.45 57.10

-1.0%

Low

16.61

17.95

Turnover (QAR '000)

16.35

1,464 9,399

17.71

2,199

71.70

9,032

19.50

316

0.6%

27.65

27.35

-0.7%

57.10

57.00

3,909

72.00 20.00

IQIndustries Qatar

138.90

0.1%

138.90

138.30

11,747

Q Qatar Electricity & Water Co.

139.00

0.7%

139.00

139.00

3,547

0.6%

50.00

49.85

1,832

M Masraf Al Rayan

Q Qatar Gas Transport Co.

Q Qatar International Islamic Bank Q Qatar Islamic Bank

26.85 15.77

0.3%

77.20

-0.4%

63.90

-0.2%

49.90

Q Qatar National Bank

133.70

Q Qatar Telecom

114.50

Q Qatar Navigation V Vodafone Qatar

0.2%

9.15

26.90

15.88

77.60

26.70

5,010

15.65

4,793

77.20

2,341

62.10

810

0.0%

134.00

133.40

3,294

-0.8%

115.30

114.50

6,566

0.1%

63.90 9.25

9.00

52-Week

Volume ('000)

High

on high

88

21.64

14.00

-23.7%

341

31.10

26.25

-11.7%

69

67.00

50.00

-14.8%

123

18.00

126 16

16.06

85.50

68.00

24.97

-8.3%

-5.2%

10,681,471

7.8

0.9

-10.9%

12.0%

11,802,444

9.3

1.8

-0.8%

6,390,000

17.2%

20,137,500

14.0

15.70

-13.9%

-9.9%

-11.6%

8,734,120

10.6

4.5

76.30

-9.5%

-8.4%

-1.9%

18,241,835

12.7

1.7

7,318,160

141.73

122.73

57

123.30

94.31

-6.1%

-11.2% -5.7%

4.4%

-0.4%

-7.6%

-3.2%

-1.3%

13,900,000

6.2%

7,553,301

7.4%

-23.9%

-16.5%

-23.9%

7.24

-5.9%

21.2%

16.0%

21.4%

76,395,000

-4.5%

63.90

-7.1%

17,741,905

1.2

-3.6%

-5.0%

-0.7%

13.1

-4.4%

25

9.72

1.5

3.4%

22.50

45.50

2,499

18.6

nmf

56.20

84.00

8,984,250

52,917,309

37

13

-23.7%

-13.3%

129.50

85.30

PB

14.1%

-10.1%

148.00

30

Trailing PE

-20.1%

26

18.32

Market Cap. (QAR '000)

18.60

118.80

304

12 mths

-14.6%

146.20 28.10

-1.4%

YTD

-16.1%

85

187

22,731

% Change

Low

93,553,826

9.2%

36,676,640 7,735,410

9.3

1.3

1.9

9.9

3.2

10.2

4.6

2.4

11.3

1.7

12.0

2.3

10.1

0.7

14.5

1.7

nmf

1.2

OMAN Rebased Performance

Summary

Best Performers 5,787 (0.6%)

MSM Index (% Chg.)

120

47% RCCI.MSM Raysut Cement Co.

% of stocks trading above 1yr avg. price

2.00

Advance/Decline Ratio

MSM 52 week High / Low

6,933,723

Market Cap (OMR '000)

99

Turnover (OMR) 949,768 NBOB.MSMNational Bank of Oman 314,697 BKMB.MSMBank Muscat

O Oman Telecommunications Co.

175,934

O Oman Cement Co. 29-Mar-12 30

29-Apr-12 30

S&P GCC Large/Mid Composite

140,693

R Raysut Cement Co.

29-May-12 30

% Chg.

1.30

3.1%

0.52

0.8%

0.45

0.0%

0.68

0.9%

1.32

0.1%

Worst Performers

R Renaissance Services 90 29-Feb-12

BKDB.MSMBank Dhofar

Highest Turnover

99

100

OCOI.MSM Oman Cement Co.

6,082 / 5,419 RNSS.MSMRenaissance Services 4,672 OTEL.MSMOman Telecommunications Co.

Turnover (OMR '000)

110

Close

106,691

B Bank Muscat

Close

% Chg.

0.29

-1.0%

BKDB.MSMBank Dhofar

0.45

0.0%

RNSS.MSMRenaissance Services

0.52

0.58

OTEL.MSMOman Telecommunications Co.

-0.3%

1.32

0.1%

0.8%

Muscat SM

Quotes Company Name

Close

B Bank Dhofar

0.445

N National Bank of Oman

0.290

O Oman Telecommunications Co.

1.319

R Renaissance Services

0.524

B Bank Muscat

O Oman Cement Co.

R Raysut Cement Co.

Daily % Chg.

High

0.0%

0.441

0.441

-1.0%

0.290

0.290

0.581

-0.3%

0.682

0.9%

1.295

Low

0.1% 3.1% 0.8%

0.585 0.687 1.321 1.301 0.530

Turnover (OMR '000) 0

0.575

107

0.680

176

1.270

141

950

0.520

315

High 0

32

1.315

52-Week

Volume ('000)

-14.8%

0.324

0.286

-10.5%

258

0.693

0.565 0.416

1.425

109

1.041

1.295

600

on high

0.423

0.671

720

Low

0.522

184 110

% Change

0.711

0.894

0.458

YTD -2.2%

-13.4%

-7.1%

-6.1%

-13.4%

-12.8%

-1.6%

57.9%

0.0%

70.4%

-7.4%

-41.4%

12 mths

0.8%

-3.9%

Market Cap. (OMR '000)

Trailing PE

PB

489,552

12.2

2.1

321,327

8.9

1.2

-5.7%

1,043,937

22.2%

225,655

16.4

259,000

15.4

20.5%

989,250

23.3%

-36.7%

147,817

8.5

1.2 1.6

8.6

2.2

2.6

nmf

0.9

BAHRAIN Rebased Performance

Summary

Best Performers 1,137 (-0.3%)

BSE Index (% Chg.)

120

Advance/Decline Ratio

1,351 / 1,129

BSE 52 week High / Low

576

Turnover (BHD '000)

110

6,442,204

Market Cap. (BHD '000)

100

99

#N/A

Turnover (BHD) 314,250 NBB.BSE 128,620 #N/A

B Albaraka Banking Grp.

16,996

IT Ithmaar Bank

7,975

N National Bank of Bahrain

30 29-May-12 Bahrain SE

29-Mar-12 29-Apr-12 30 30 S&P GCC Large/Mid Composite

NBB.BSE

% Chg.

0.16

6.9%

0.95

#N/A

National Bank of Bahrain

0.0%

#N/A

#N/A

#N/A

#N/A

0.53

#N/A

-5.4%

Worst Performers

B Bahrain Telecommunications Co. 90 29-Feb-12

#N/A

Highest Turnover

99

Close

42% ITHMR.BSE Ithmaar Bank 1.00 BARKA.BS Albaraka Banking Grp.

% of stocks trading above 1 yr avg. price

-

A Ahli United Bank

Close National Bank of Bahrain

% Chg.

0.53

#N/A

#N/A

BARKA.BS Albaraka Banking Grp.

0.95

AUB.BSE

0.60 -

ITHMR.BSE Ithmaar Bank

0.16

Ahli United Bank

-5.4%

#N/A

0.0%

6.9%

Quotes Company Name

Close

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

0.0%

797

-

0.398 0.155

0.530

0.234

-

6.9%

-5.4% -

-

Low -

0.950

0.950

-

-

-

-

0.472

0.472

-

-

-

-

0.155

0.155

-

-

0.535

0.530

Turnover (BHD '000)

Volume ('000)

-

834 -

129 -

-

8

% Change

Low

on high

YTD

12 mths

Market Cap. (BHD '000)

-

0.676

0.599

-11.2%

-0.5%

-6.8%

3,140,967

-

0.530

0.420

-13.2%

9.5%

-19.3%

1,430,980

-2.9%

20.4%

0.0%

0.0%

-30.0%

637,729

-7.8%

-10.2%

453,341

875 -

273 -

45

52-Week High

-

1.020 0.106 0.486 0.420 797

0.857 0.082 0.380

-6.9%

-15.1%

0.388

-5.2%

797

1.7%

0.0%

-3.9%

290

0.240

0.065

-35.4%

138.5%

-

0.424

0.234

-44.8%

-22.0%

15

0.600

0.530

-11.7%

-6.9%

-12.6%

8.3%

-5.2%

82.4%

-33.1%

964,007

Trailing PE

PB 9.9

1.2

6.8

0.4

8.0

84,571

nmf

338,840

10.6

415,164

nmf

195,287

nmf

679,680

0.8 0.8

8.6

1.3

4.5

0.6

9.8

1.7

1.4 0.7

0.9

LIFE

Eat right during menopause

A natural drop in estrogen levels, combined with stress and lack of sleep, can take a physical and emotional toll on a woman entering menopause, leading to weight gain. But the Academy of Nutrition and Dietetics says weight gain and menopause don’t have to go hand in hand.

The academy offers this advice: • Get plenty of regular exercise, including both aerobic and strengthening exercises.

• Limit caffeine and spicy foods to help control hot flashes, and drink plenty of water.

• Load up on fruits, whole grains, omega-3-rich foods such as salmon, soy, calcium-rich foods such as yogurt, and dark, leafy green veggies.

• Limit salt consumption, and don’t have more than one alcoholic drink per day.

thursDAY, may 31, 2012

Kuwait marks World Crohn’s and Ulcerative Colitis Day Onilda Fernandes Staff Writer

KUWAIT: In lieu of World Crohn’s and Ulcerative Colitis Day, the Kuwait Doctors Association of Gastroentology and Hepatology hosted, in collaboration with Abbott, an awareness campaign in Kuwait on May 29 at Holiday Inn, Salmiya. The interactive session was held in the midst of renowned doctors to bring to light, the growing concerns of the two important types of inflammatory bowel diseases (IBD).

“Unfortunately in Kuwait, we do not have real statistics on the number of people suffering with IBD,” informed Dr. Massouma AbdulRahman Ali, Consultant in Gastroenterology and Therapeutic Endoscopy at Thunayan Al Ghanim Center for Gastroenterology to Al Watan Daily. “All we know is that the number of cases we have been treating, have been increasing in recent years. Earlier Ulcerative Colitis patients were many but Crohn’s patients are now catching up. To establish a registry, we need a lot of backup from the Ministry of Health. We are however working on getting this done soon.”

Crohn’s disease is a serious chronic, inflammatory disease of the gastrointestinal (GI) tract that affects millions of people worldwide.

Crohn’s disease is most commonly present in late adolescence or young adulthood (from 20 to 40 years of age). Common symptoms of the disease include diarrhea, cramping, abdominal pain, weight loss, fever, and in some cases, rectal bleeding.

In Ulcerative Colitis, the immune system responds abnormally causing inflammation in the large intestine, which includes the colon and rectum. The disease begins in the rectum and extends into areas of the colon. The damage seen in UC is usually found in the innermost lining of the intestinal wall.

Dr. Ali had trained in Canada for gastrointestinal problems but when she returned to Kuwait, she realized that there were a lot of patients for Crohn’s and no specialist available.

“So I went back to Oxford, UK and received special training. Currently, only Dr. Ahmad AlFadhli and I are the fully trained specialists for Crohn’s and Ulcerative Colitis here.”

The main cause of IBD is still unknown but genetic and environmental factors are involved. “Ulcerative Colitis may develop at

A section of the audience attending the forum on IBD.

any age, but there are two incidence peaks.

The first peak, which is larger, is at 15 to 30 years, and the second peak is at 60 to 80 years with men and women being equally affected.

Former cigarette smokers have an increased risk of UC compared with those who have never smoked,” added Dr. Ali. “Especially in Kuwait, it is the change in lifestyle, junk food, pollution, and the catastrophes of the war that is now showing effects. But we can’t pinpoint exactly what causes IBD.” Dr. Ali however added that Kuwait is on the verge of having an IBD unit. “I have just written a proposal and submitted it to the head of department at the Amiri hospital for a multidisciplinary unit with a nutritionist, surgeon, radiologist, colorectal surgery unit, patient care, referral system, basically any service for IBD. It’s unique and going to be new in Kuwait. So let’s hope it works out.”

Dr. Fahad Al-Ibrahim, IBD Specialist and Consultant Gastroentologist at Thunayan AlGhanem emphasized on, “The importance of timely and proper treatment which can help in controlling the disease from increasing fur-

Radioactive bluefin tuna crossed the Pacific to US

LOS ANGELES: Across the vast Pacific, the mighty bluefin tuna carried radioactive contamination that leaked from Japan’s crippled nuclear plant to the shores of the United States 6,000 miles away - the first time a huge migrating fish has been shown to carry radioactivity such a distance.

“We were frankly kind of startled,” said Nicholas Fisher, one of the researchers reporting the findings online Monday in the Proceedings of the National Academy of Sciences. The levels of radioactive cesium were 10 times higher than the amount measured in tuna off the California coast in previous years. But even so, that’s still far below safe-to-eat limits set by the US and Japanese governments.

Previously, smaller fish and plankton were found with elevated levels of radiation in Japanese waters after a magnitude-9 earthquake in March 2011 triggered a tsunami that badly damaged the Fukushima Dai-ichi reactors.

But scientists did not expect the nuclear fallout to linger in huge fish that sail the world because such fish can metabolize and shed radioactive substances. One of the largest and speediest fish, Pacific bluefin tuna can grow to 10 feet and weigh more than 1,000 pounds. They spawn off the Japan coast and swim east at breakneck speed to school in waters off California and the tip of Baja California, Mexico.

Five months after the Fukushima disaster, Fisher of Stony Brook University in New York and a team decided to test Pacific bluefin that were caught off the coast of San Diego. To their surprise, tissue samples from all 15 tuna captured contained levels of two radioactive substances - ceisum-134 and cesium-137 - that were higher than in previous catches. The results “are unequivocal. Fukushima was the source,” said Ken Buesseler of the Woods Hole Oceanographic Institution, who had no role in the research. Bluefin tuna absorbed radioactive cesium from swimming in contaminated waters and feeding on contaminated prey such as krill and squid, the scientists said.

As the predators made the journey east, they shed some of the radiation through metabolism and as they grew larger. Even so, they weren’t able to completely flush out all the contamination from their system.

The real test of how radioactivity affects tuna populations comes this summer when researchers planned to repeat the study with a larger number of samples.

Bluefin tuna that journeyed last year were exposed to radiation for about a month.

The upcoming travelers have been swimming in radioactive waters for a longer period. How this will affect concentrations of contamination remains to be seen. -AP

Doctors specialized in IBD sitting on the dais at Holiday Inn, Salmiya on May 29, 2012.

ther.While there is no permanent cure, the patient can go symptom free for long periods of time, if they adhere to right proper and regular treatment. “ “A number of methods and medications are used to treat Crohn’s disease, most important of which is through biological medicines, discovered over 10 years ago,” said Dr. Salim Farhan Al-Shemri, Consultant Gastroenterology and Hepatology and Head of the Gastroenterology and Hepatology Unit at Al Adan Hospital, and a member of the Kuwait Gastroenterology and Hepatology Association.

“These medications have brought forth a major and positive change in treating this disease, as it reduces symptoms and the need for other types of medications while also decreasing the number of times a patient is admitted to the hospital for treatment. It is, however, inevitable that some procedures help to extract the injured area and studies have shown that 75% of Crohn’s patients will need to have an operation at some point in their lives. Those are usually ones who suffered a relapse within the first five years.”

Patient experience

She was only eight years old when she started experiencing severe pain and discomfort. For two weeks, all she did was have one test after another conducted on herself. “We checked everything and visited numerous doctors. But it was only after the hemoglobin count in her blood came down that a doctor suggested Crohn’s. Endoscopy, colonoscopy and two hours of questions later, we realized she was a victim of Crohn’s,” recalls the girl’s father Abbas Taqi in a chat with Al Watan Daily. “At that time she was the 50th patient in Kuwait and had spent around 5 months in the hospital. We didn’t know that such a disease even existed until then. I researched into it and realized that based on the history of Crohn’s, it only affects people in cold areas.

I don’t know how Kuwait got involved. But at that time there were around 92 patients, today there are over 10,000.”

After his daughter got a surgery done in the States, things are slightly better. “The problem isn’t just with the body, as is the case with most diseases, it’s also the mind that gets

affected. She is constantly on drips; I have to be so careful when I am with her. I can’t get angry with her and before she answers any exam, she needs to go to the hospital prior.

There is constant stomach pain, if we visit a restaurant; her diet has to be kept in mind.

Plus it is a very expensive disease. Each injection costs 600 KD. The government pays me but otherwise 2000 dollars for an injection, how will the expats survive? I know boxes are kept for money to help these people.”

Today at 17 years of age, though physically his daughter is in better health, mentally the problem persists. “I was much attached to her for 16 years because she was sick. Now that she is okay, I have resumed my regular work, but she says I don’t like her anymore.

Tomorrow she may hate me or not accept my advice. The problem in Kuwait is that there are no special clinics for Crohn’s and no adequate research done on the problem. Sometimes we need to wait 3 months to see a surgeon because there are just so many patients. You need to visit Amiri hospital one day to see what I mean.”

SpaceX Dragon prepares to leave space station PARIS: US company SpaceX’s Dragon cargo ship is preparing to make its return journey to Earth after a landmark mission to the International Space Station, NASA and SpaceX representatives said Wednesday.

The release of the unmanned Dragon is set for 5:35 am Eastern time (0935 GMT) on Thursday, with an intact splashdown in the Pacific Ocean off California planned for 1444 GMT, NASA said.

“We have a lot ahead of us on the SpaceX side,” said mission director John Couluris in a briefing with reporters on the eve of the spacecraft’s return after a seven-day mission to the orbiting outpost. “We have done it once,” he said, referring to the Dragon’s test flight in December 2010 when the capsule entered and returned safely from orbit for the first time.

“But it is still a very challenging phase of flight,” he added. “We are not taking this lightly at all.” The capsule is supposed to make an ocean landing 490 nautical miles (907 kilometers) southwest of Los Angeles, where three vessels are standing by as recovery boats.

It will then be transported to Texas so that

the cargo it is bringing back can be returned to NASA, though the US space agency cautioned that if anything goes wrong, there is nothing irreplaceable on board. “There is not anything coming home that we couldn’t afford to not get back,” said Holly Ridings, NASA flight director.

The cargo ship launched on May 22 carrying 521 kilograms (1,148 pounds) of gear for the space lab, including food, supplies, computers, utilities and science experiments. It plans to return a 660-kilogram load to Earth.

On May 25, the Dragon became the first privately owned spacecraft to berth with the ISS, an event that NASA and White House officials hailed as the start of a new era in spaceflight in which commercial enterprise will take on a larger role. The United States retired its space shuttle fleet last year, leaving cargo missions up to the space agencies of Russia, Japan and Europe.

Until private US ventures come up with a replacement vehicle that can carry humans to the $100 billion orbiting lab, the world’s astronauts must rely on Russia’s Soyuz capsules at $63 million a ticket. US astronaut Don Pettit, who is part

of the six-member crew at the ISS and helped unload and restock the capsule, described it as “roomier than a Soyuz” and said it boasts about as much space for cargo as his pickup truck.

The white Dragon capsule stands 4.4 meters (14.4 feet) high and is 3.66 meters in diameter, and could carry as much as 3,310 kilograms split between pressurized cargo in the capsule and unpressurized cargo in the trunk.

It was also built to carry up to seven humans to the ISS. The Soyuz carries three at a time.

SpaceX, owned by billionaire Internet entrepreneur Elon Musk, says it aims to begin taking people to the space station by 2015.

Using some of their own money and some funds from NASA, SpaceX and its competitor Orbital Sciences Corporation will likely become the chief cargo servicers of the space station, which is set to remain operational until 2020, NASA has said. SpaceX has a $1.6 billion contract with NASA to supply the station over the coming years, and Orbital Sciences has a $1.9 billion contract to do the same. Orbital’s first test flight is scheduled for later this year. -AFP

Tomato genome project bears fruit LONDON: An international team of scientists has cracked the genetic code of the domesticated tomato and its wild ancestor, an achievement which should help breeders identify the genes needed to develop tastier and more nutritious varieties. The full genome sequence of a tomato breed known as Heinz 1706, and a draft sequence for its closest wild relative Solanum pimpinellifolium, were published in the journal Nature on Wednesday.

Researchers who carried out the work said that together the sequences provide the most detailed look yet at the functional parts of the tomato genome and show order, orientation, types and relative positions of all of its 35,000 genes.

The sequences should help researchers find the links between certain tomato genes and the characteristics they determine, and will also extend scientists’ understanding of how genetic and environmental factors affect the health of a crop. “Tomatoes are one of the most important fruit crops in the world, both in terms of the volume that we eat and the vitamins, minerals and other phytochemicals that both fresh and processed tomato products provide to our diets,” said Graham Seymour, a professor of biotechnology at Nottingham University, one of 300 scientists involved in the Tomato Genome Consortium (TGC).

Tomatoes are not the only fruit

The antennas of the Atacama Large Millimeter/submillimeter Array (ALMA) telescope stand against the Milky Way, in this photo taken on the Chajnantor plateau in Chile’s Atacama region. The constellations of Carina (The Keel) and Vela (The Sails) glow in this picture. The Milky Way shines from middle top left to middle bottom right. The bright orange star in the upper left is Suhail in Vela. (AFP)

The tomato is also a good model to investigate the process of fruit ripening, so understanding its genome should help reveal the molecular circuits that make fruits ripen and give them their health-promoting properties, the team said.

“For any characteristic of the tomato, whether it’s taste, natural pest resistance or nutritional content, we’ve captured virtually all those genes,” said James Giovannoni from the Boyce Thompson Institute for Plant Research at Cornell University, who was part of the US tomato sequencing team. Tomatoes represent a $2 billion market in the United States alone, while in Britain the market for tomatoes is worth around 625 million pounds ($980 million) a year.

The research also offers some insight into how the tomato and its relatives diversified and adapted to new environments over the years.

The scientists said the findings show the tomato genome expanded abruptly about 60 million years ago. Some of the genes generated during

FILE - Healthier tomatoes grown in seawater. (Agencies)

that expansion were involved in the development and control of ripening, making them particularly interesting to tomato breeders.

The TGC involved scientists in 14 countries including Argentina, China, France, Germany, India, Japan, South Korea, Britain, the United States and others.

Giovanni said the work has implications for other plant species.

Strawberries, apples, melons, bananas and other fleshy fruits share some characteristics with tomatoes, he explained, so knowledge about the genes involved in fruit ripening could potentially be applied to them, helping breeders and growers to improve food quality and cut costs.

“Now we can start asking a lot more interesting questions about fruit biology, disease resistance, root development and nutritional qualities,” he said in a statement. -Reuters

16

ALWATAN DAILY

CULTURE

THURSDAY, May 31, 2012

Dutch envoy awards prizes to winners of recycling competition

French luxury brands fight back against fakes

PARIS: French luxury brands from Chanel to Vuitton on Wednesday launch a campaign with several European countries to fight back against the increasingly lucrative and damaging flood of counterfeit goods.

The global market for luxury fakes has exploded, fed by Asia where 85 percent of articles seized in Europe are produced and the increasing popularity of on-line shops that give the buyer a sense of anonymity and impunity.

To fight the scourge, the Comite Colbert grouping 75 French luxury goods makers including Dior, Cartier and Remy Martin, is launching a poster campaign in French airports ahead of the summer to dissuade travelers from buying fakes.

“You can call your lawyer with this telephone,” reads one of the posters, above a picture of a counterfeit Chanel mobile.

France has the toughest anti-counterfeit legislation in the world, explains Comite Colbert boss Elisabeth Ponsolle des Portes, with simply possessing a counterfeit good here considered a crime since 1994.

“In France you can be fined up to 300,000 euros and jailed for three years” if you own counterfeit goods, the posters say.

The Comite Colbert has staged campaigns every two years since 1995, but this time Italy, the Czech Republic, Hungary, Slovakia, Romania and Croatia are getting involved, with their customs officers able to use the posters for free.

Ponsolle des Portes hopes that more countries will get on board.

“This is important for Europe, in terms of jobs,” she said.

Counterfeit seizures doubled in Europe between 2009 and 2010, reaching 103 million items worth 1.1 billion euros ($1.37 billion), with customs officers themselves often unable to tell the fake from the real.

And according to 2009 Eurobarometer statistics, 22 percent of EU citizens have unknowingly bought counterfeit goods.

As home to many of the world’s best known luxury brands, France is particularly exposed. Fake goods cost the economy 30,000 jobs and six billion euros in lost revenues every year, according to the Comite Colbert.

Clothes, sunglasses, perfume, cosmetics, leather goods, half the 8.9 million counterfeit articles seized in France in 2011 were luxury goods, with Louis Vuitton products the most copied.

Globally the underground fake goods economy is booming thanks to Internet shopping, as testified to by the increasing number of items seized in postal sorting offices.

Which is why the Comite Colbert now wants to get the cooperation of banking groups and payment handlers, such as Mastercard, Visa, American Express and PayPal, to track the illegal trade online. -AFP

Winners of the recycling competition with first prize winner Farah Al-Lahou (right) (Al Watan Daily)

“Kuwait has taken drastic measures to implement eliminating landfills and rehabilitation of landfills at later stage in a different tender”

Missoni designs sandals for Havaianas

PARIS: Italian brand Missoni, which specializes in original printed knitwear, is collaborating with Brazilian brand Havaianas for a high-end capsule collection of thong sandals. Sporting iconic Missoni motifs, the thong sandals are composed of leftover pieces of the Brazilian brand’s multicolored rubber flip flops, which are then put together to create various forms of zigzag patchwork. One of the new models for 2012, the “Missoni Loves Havaianas Slim,” is adorned with several jewel-style lucky charms and will be available in select retail outlets in mid-June for a price of 90 euros. The strap, available in purple or black, is decorated with charms in the form of four-leaf clovers and ladybugs. Last year, Missoni collaborated with another mass-market brand, US retailer Target, creating a 400-piece range with its signature zigzag patterns. The collaboration line, with many items priced at under $50, was so popular that it sold out almost immediately from retailers across the US. -AFP

Ricky Laxa

Staff Writer

KUWAIT: Ambassador of The Netherlands to Kuwait Ton Boon von Ochssee awarded the prizes to the winners of the recently concluded two weeks recycling awareness program through a competition held among the students of The British School of Kuwait. The program aimed at finding resources, ways and means to recycle waste and protect the environment. Thirty creative products were presented and six from which emerged as winners. Chief Executive Officer of Al-Arfaj Group of Companies and responsible for recycling program Salim Shublaq attended the occasion to assist choose the winners.

The Dutch Envoy told Al Watan Daily that the response of the program was overwhelming and that children were the best choice in drawing and gathering great ideas that have the potentials to be developed to more state of the art apparatuses or machines that could help minimize if not eradicate waste.

The envoy added that the program attracted attention and created in-depth awareness among the students themselves and their families who have contributed to some of ideas presented. “Some of the projects were significantly genius that resulted to two winners on each category.

The students were very participative and receptive to the idea and that the school will follow-up to support the project further. There is definitely a next step to all these” commented the Dutch Ambassador.

Grand prize winner, a six grader Farah Al- Lahou said that she found it hard to finish the project, since one of her arm was injured but she expressed her gratitude to her mom who helped her

Dutch Envoy in Kuwait Ton Boon von Ochssee congratulates the winners of the competition.

(Al Watan Daily)

Chief Executive Officer of Al-Arfaj Group of Companies Salim Shublaq shows a small broom made from plastic bottle. (Al Watan Daily)

accomplish the project. Al-Lahou’s robot trash bin reaped the major prize. “The idea was definitely worth being developed into something really useful. The image of the robot was formed out of used cardboards, foil and plastic and its torso area was a drawer where waste plastics maybe disposed of.

Such great idea can be developed into a talking waste bin that every time someone throws something inside would reply back. These attractive waste bins can be placed in different areas,” commented the Dutch Envoy.

As for Shublaq, he said that Al-Arfaj has been involved on environment and waste collection and recycling. Its main purpose is to educate the young children on the issues of recycling and waste. “The Dutch Ambassador has taken active participation on the issue and in partnership we have given sem-

inars and talks to different schools. This program is a non-profit and completely based on community service,” commented Shublaq.

“At the moment recycling in Kuwait receives poor response and issues are tackled single handedly by individuals and that no collective effort is put into action. To my knowledge Kuwait is putting up a tender based on PPP system that completely implements recycling, eliminating recycling all types of solid wastes, which are household wastes, these will be under three plants in Kuwait taking effect within a the next month and full operational in 2015. Kuwait has taken drastic steps in eliminating landfills and rehabilitating at later stage in different tender. There is a process being followed although late but I guess it’s better late than never,” commented Shublaq.

A special Missoni for Havaianas flip-flop. (AFP)

Nobel laureate discusses writing about dictatorships NEWYORK: Writer Herta M­ller went from being a teacher who lost her job and lived under constant threat for refusing to cooperate with former Romanian dictator Nicolae Ceaucescu’s secret police, to winning the Nobel Prize for literature in 2009. M­ller, 58, has lived in Berlin since emigrating from her native Romania in 1987, but the suffering of people living under dictatorships is never far from her mind - or her writing. In her latest novel, “The Hunger Angel,” M­ller tells the story of 17-year-old Leo Auberg, an ethnically Saxon Romanian who is coming to terms with his homosexuality in rural Romania in 1945. His life is interrupted when Soviet soldiers send him to a labor camp over the border, where he witnesses his fellow villagers be corrupted by the circumstances, and tries to preserve the better facets of himself. M­ller spoke with Reuters during her US tour about the book and life under totalitarian regimes.

You lived under a draconian regime in Ceaucescu’s Romania, and before that your mother was deported to a Soviet labor camp in 1945, just like Leo. How much of the book is based on your own experiences, and those of people close to you?

M­ller: “Most of the things I know are from Oskar Pastior, the poet. He’s the protagonist under the name of Leo. That’s really the reason why the book’s protagonist was a gay man. He told me so much that my mother’s experiences slipped into the periphery, because my mother didn’t tell me that much ... I also read a lot about the subject - lots of books by people who just wrote down their experiences.

“Most were not high literature, just personal accounts often published by small publishing houses or by the authors themselves. I read one book specifically about the women in the gulag because that was something Oskar couldn’t really tell me anything about.”

them, it’s so self-evident that we don’t think about. “For refugees and people who have to flee, all of sudden they don’t have anything anymore. When everything is taken away from them or they have to leave it behind, then they really notice that they have nothing anymore.”

In addition to Oskar, you have heard and read many accounts of surviving the types of suffering you write about in “The Hunger Angel.” Did you find any commonalities emerging from these stories?

What do you hope readers will get out of your book that can be applied to the present world?

M­ller: “It seems to be something very individual. Everyone had their own methods to deal with hardship. For example, in Pastior’s case, it was his grandmother saying ‘I know you will come back’ that kept him going (also for Leo in the novel). My mother probably prayed, other people sang. Everybody seems to have had their own way of holding on to life.”

In the book, Leo talks about how people lose parts of themselves under such adverse circumstances - even the qualities that they think are immutable parts of their cores. Do you think there are any human qualities or habits that remain constant, regardless of circumstances?

M­ller: “Again, I think it’s a matter of individual strategies, but Pastior said that in the camp, it was the intellectuals who lost their humanity first because they depend on a more complicated construction (of morality and the world) that doesn’t function anymore when civilization breaks down. “Simple people will just say, ‘This is all right, this is not all right, this

FILE - Nobel Literature laureate Herta Muller of Germany attends a news conference during the inauguration of the International Book Fair in Guadalajara November 25, 2011. (Reuters)

is not how things should be done.’ This type of black-and-white morality is much more effective in a situation like that, much more effective than the complicated, intellectual form of morality ... In every dictatorship, a large number of intellectuals take part in the government’s crimes.”

In this book everyday objects play a large role in the story. What role do objects play in people’s experiences and in the way we define our existences?

M­ller: “I believe that beyond writing, physical objects play a very important part in life,

and we define ourselves through objects. When we make distinctions between rich and poor, the rich are the ones who have many or even too many objects.We have these categories that are based on objects. In the end, our status is defined by what we own.

“In the camp, you have nothing, and on top of it you have been disowned as a person because of the whole militarized structure. There’s nothing but orders. In that context, personal objects become very valuable, like the silk scarf Leo had brought from home. We always define ourselves through objects, but when we have

M­ller: “I do hope they’ll get something, because I’ve learned a lot from other people’s books. When you live in a dictatorship, you always ask yourself, how did it get here? How did it happen that everybody has so much fear?

With that in mind, I’ve read a lot of literature and non-fiction books because I wanted to know how this works... “My hope is that if you read my book, you will learn something about how dictatorships work. Living in a democracy, it can’t hurt to do that.”

You have won many awards for your writing, most notably the Nobel Prize for literature in 2009. Do you feel any pressure to outdo yourself?

M­ller: “Every award is something outside of me, and outside of my writing. Whether it’s the Nobel Prize or any other prize, it doesn’t help me with writing whatsoever. When I’m writing, it’s the farthest thing from my mind. I don’t really feel any pressure because I don’t owe anything to anybody except myself, because I cannot do anything but what I’m doing.

That’s enough pressure, otherwise I can’t bear it. I can’t write for others when I write. It has to be for me.” -Reuters

ALWATAN DAILY

entertainment Song Of The Day

Fahad AlSabah Staff Writer

Song: Small Town Moon Artist: Regina Spektor Album: What We Saw From The Cheap Seats Genre: Alternative In short: On her third album, Regina Spektor dazzles her way through slick productions, lyrical revelations, and different themes with her unique delivery - especially on “Small Town Moon”, where Spektor lets loose and just sings the way she likes to.

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

The Buzz Spanish pop star Alejandro Sanz marries girlfriend Spanish pop star Alejandro Sanz says he got married last week to long-time girlfriend Raquel Perera, and that they held a party at his farm over the weekend to celebrate with friends and baptize their 11-month-old son. The Latin Grammy winner says the couple married in Barcelona on May 23, then headed to Sanz’ farm in southeastern Spain for the wedding party and baptism on Saturday. Sanz and Perera said Tuesday in a statement released by his Spanish agency that the religious wedding ceremony was held “in the strictest privacy” and that Saturday’s event took place at his farm in the town of Jarandilla de la Vera. -AP

Japan film director Shindo dead at 100

thursDAY, MAY 31, 2012

Folk musician Doc Watson dies at 89 RALEIGH, North Carolina: Doc Watson, the blind Grammy-award winning folk musician whose mountain-rooted sound was embraced by generations and whose lightningfast style of flatpicking influenced guitarists around the world, died Tuesday at a North Carolina hospital, according to a hospital spokeswoman and his manager. He was 89.

Watson died at Wake Forest Baptist Medical Center in Winston-Salem, where he was hospitalized recently after falling at his home in Deep Gap, in the Blue Ridge Mountains.

He underwent abdominal surgery while in the hospital and had been in critical condition for several days.

Arthel “Doc” Watson’s mastery of flatpicking helped make the case for the guitar as a lead instrument in the 1950s and 1960s, when it was often considered a backup for the mandolin, fiddle or banjo. His fast playing could intimidate other musicians, even his own grandson, who performed with him.

Richard Watson said in a 2000 interview with The Associated Press that his grandfather’s playing had a humbling effect on other musicians. “Everybody that’s picked with you says you intimidate them, and that includes some of the best,” Richard Watson told him.

The ever-humble Doc Watson found it hard to believe.

Country and bluegrass singer Ricky Skaggs said Tuesday evening, “An old ancient warrior has gone home.” “He prepared all of us to carry this on,” Skaggs added. “He knew he wouldn’t last forever, He did his best to carry the old mountain sounds to this generation.”

Doc Watson was born March 3, 1923 in Deep Gap, about 100 miles northwest of Charlotte. He lost his eyesight by the age of 1 when he developed an eye infection that was worsened by a congenital vascular disorder, according to a website for Merlefest, the annual musical gathering named for his late son Merle.

He came from a musical family - his father was active in the church choir and played banjo and his mother sang secular and religious songs, according to a statement from

FILE - In this April 28, 2001 file photo, master flatpicker Doc Watson performs at the annual Merlefest at Wilkes Comunity College in Wilkesboro, N.C. (AP)

Folklore Productions, his management company since 1964.

DocWatson’s father gave him a harmonica as a young child, and by 5 he was playing the banjo, according to the Merlefest website. He learned a few guitar chords while attending the North Carolina Morehead School for the Blind in Raleigh, and his father helped him buy a Stella guitar for $12.

The wavy-haired Watson got his musical start in 1953, playing electric lead guitar in a country-and-western swing band. His road to fame began in 1960 when Ralph Rinzler, a musician who also managed Bill Monroe, discovered Watson in North Carolina. That led Watson to the Newport Folk Festival in 1963 and his first recording contract a year later.

He went on to record 60 albums, and wowed

fans ranging from 60s hippies to fans of traditional country and folk music.

According to the Encyclopedia of Country Music, Watson took his nickname at age 19 when someone couldn’t pronounce his name and a girl in the audience shouted “Call him Doc!” Seven of his albums won Grammy awards; his eighth Grammy was a lifetime achievement award in 2004. He also received the National Medal of the Arts from President Bill Clinton in 1997. “There may not be a serious, committed baby boomer alive who didn’t at some point in his or her youth try to spend a few minutes at least trying to learn to pick a guitar like Doc Watson,” Clinton said at the time.

Folklore described Watson as “a powerful

Jury to hear No Doubt’s claims against game maker

Japanese film director Kaneto Shindo, known for hard-hitting works dealing with human nature and the effects of the atomic bombing of Hiroshima, has died at his home in Tokyo, his office said Wednesday. Shindo, who celebrated his 100th birthday last month, died early Tuesday, producer Tetsuo Satonaka said. Shindo directed nearly 50 films, with his final work, “A Postcard” winning the special jury prize at the Tokyo International Film Festival in 2011. Born in Hiroshima, he studied screenwriting while working as an art assistant for the renowned director Kenji Mizoguchi. After making his debut as a director in 1951, he came to international attention with “Children of Hiroshima” when it was premiered at the 1953 Cannes Film Festival. The 1952 film portrayed a young female school teacher who returns to Hiroshima, hoping to find survivors among her students, after the city was devastated by the 1945 US atomic bombing. Shindo won the Grand Prix at the 1961 Moscow international film festival with “The Naked Island”, a film with no dialogue that depicted the hardship of a couple and their children living alone on a small island. -AFP

Actor Peter Dinklage goes to bat for farm animals In “Game of Thrones,” Peter Dinklage’s character is constantly steeped in battle over control of a mythical kingdom.

After the show’s season finale on Sunday, Dinklage plans to take his fight to the farm. Dinklage, 42, will spend his off season promoting a campaign to change the way society treats farm animals as national spokesman for Farm Sanctuary’s annual Walk for Farm Animals. The actor, who has been a vegetarian since he was 16, has won an Emmy and a Golden Globe for his role in the HBO series. He said he joined the cause because he felt “animals used for food are treated like unfeeling machinery.” Farm Sanctuary, which provides care for more than 1,300 rescued farm animals, will put on walks in more than 35 cities across the country this fall. -AP

Randy Travis accuses ex of betraying information Randy Travis has filed a countersuit against his ex-wife claiming she’s been divulging confidential information about the country music singer that was calculated to damage his reputation and career. The court documents filed recently in a federal court in Nashville don’t say what information Elizabeth Travis is alleged to have revealed. The filings are the latest salvo in the feud between the Travises. The couple divorced in 2010 after 19 years of marriage. Elizabeth Travis had been his manager for more than three decades. She sued him last month claiming that Randy Travis made it impossible for her to do her job and terminated her management contract without proper written notice. An attorney for Elizabeth Travis did not immediately respond to a request for comment. -AP

Olympian Misty May-Treanor wants another shot on DWTS No one should question the competitive fire burning within Olympic volleyball gold medalist Misty May-Treanor, even when it comes to “Dancing With the Stars.” The beach volleyball champion wants another shot at the ABC dance competition. She was on the show in 2008, but her hopes of winning were spiked when she was forced out of the competition with an Achilles tendon injury suffered in rehearsal. MayTreanor asked fans on her Facebook page to campaign for her to perform next season, when the show will bring back stars from previous seasons. “I would love to finish what I wasn’t able to when I was on the show the last time,” she posted. No word on when the decision will be made by ABC. The months of speculation about who will be back is part of the hype machine surrounding the show. Before doing any Lindy Hopping however, May-Treanor will compete in London with partner Kerri Walsh. -Reuters

17

In this video game image released by Activision, a scene is shown from the game, “Band Hero,” is shown. (AP)

LOS ANGELES: No Doubt’s attorneys can argue to a jury that the band was misled by gaming giant Activision Publishing Inc. about how its likeness would be used in the video game “Band Hero,” a judge ruled Tuesday.

The ruling by Superior Court Judge Ramona See rejected a motion by Activision’s lawyers to dismiss several claims from the case, including fraud, violation of publicity rights and breach of contract. See determined there were genuine disputes about evidence that a jury should consider.

No Doubt sued the Santa Monica, Calif.-based video game company in November 2009, claiming the band was never told that players would be able to unlock avatars of the band to perform other artists’ music.

The case cited instances in which players could use singer Gwen Stefani to perform suggestive lyrics from the Rolling Stones’ hit “Honky Tonk Women,” or have a virtual version of bassist Tony Kanal sing his band’s hit “Just a Girl,” but with Stefani’s voice.

The lawsuit claimed the feature turns the band “into a virtual karaoke circus act.”

See denied on a technical basis a request for an injunction barring Activision from using band members’ likenesses to perform other artists’ work, although No Doubt could still pursue such an order if it wins at trial.

Activision has claimed the idea of “unlocking” unadvertised features of a video game has been around since the early days of the industry and the company did nothing wrong. Attorneys expect the case will go to trial later this year.

Jeffery McFarland, who represents Activision, said the company has a strong defense and is looking forward to presenting it during trial. During the hearing, he said the company had a video recording of the band being told about the game’s unlockable features.

The band’s attorney Bert Deixler said the ruling “seemed inevitable” and noted No Doubt has repeatedly won the right to pursue the case, in both state and appellate courts. -AP

singer and a tremendously influential picker who virtually invented the art of playing mountain fiddle tunes on the flattop guitar.”

Countless guitarists tried to emulate Watson’s renditions of songs such as “Tennessee Stud,” “Shady Grove,” and “Deep River Blues.”

Doc Watson’s son Merle began recording and touring with him in 1964. But Merle Watson died at age 36 in a 1985 tractor accident, sending his father into deep grief and making him consider retirement. Instead, he kept playing and started Merlefest, an annual musical event in Wilkesboro, North Carolina, that raises money for a community college there and celebrates “traditional plus” music.

Doc Watson has said that when Merle died, he lost the best friend he would ever have.

He also relied on his wife, Rosa Lee, whom he married in 1947.

In a PBS News Hour interview before a January appearance in Arlington, Va., Watson recalled his father teaching him how to play harmonica to a tune his parents had sung in church, as well as his first bus trip to New York City to perform in the early 1960s. He gave an early solo performance at Gerde’s Folk City in Greenwich Village, a hot spot for the folk music revival, and later played Carnegie Hall. Telling the stories in a folksy manner, he broke into a quiet laugh at various points. He said he still enjoyed touring.

North Carolina Gov. Beverly Perdue said in a statement Tuesday evening that Watson will be missed. “Over his long and brilliant career, Doc Watson traveled the world playing the music he loved, but his heart never strayed far from his home in Deep Gap, North Carolina,” Perdue said. “Our state was fortunate to have such a worldwide ambassador of North Carolina’s culture and heritage.”

In 2011, a life-size statue of Watson was dedicated in Boone, North Carolina, at the spot where Watson had played decades earlier for tips to support his family, according to the Folklore statement. At Watson’s request the inscription read, “Just One of the People.” -AP

Thailand furious at Lady Gaga’s fake Rolex tweet

BANGKOK: Thailand’s government is up in arms over a tweet by pop sensation Lady Gaga about buying a fake designer watch in a Bangkok street market and has complained to the United States.

Bangkok’s sprawling outdoor markets and some of its big shopping malls are widely known for selling near-perfect replicas of famous luxury brands, often imported from China.

Even so, Gaga’s May 23 tweet, two days ahead of a sellout concert in Bangkok, struck a raw nerve with some Thais who said the zany artist had dented the country’s reputation by suggesting she could easily get her hands on a fake Rolex watch.

The Grammy Award winner, who cancelled a concert after threats in Indonesia and faced protests by conservative groups in the Philippines and South Korea, has not apologized for the tweet, which Thailand’s Commerce Ministry said undermined its efforts to stamp out piracy.

“Lady Gaga is a representative of the US and the US puts pressure on smaller countries to promote the protection of intellectual property,” an official at the ministry’s Intellectual Property Department told Reuters, requesting anonymity because he was not authorized to speak to the media. “She should tell her fans that they shouldn’t use fake goods.”

Gaga’s comment stirred debate on Thai web forums and social media. A small protest took place in Bangkok’s business district but that failed to keep fans away from her much-anticipated show on Friday, which attracted 50,000 people.

Gaga’s contentious tweet to her 24 million followers said: “I just landed in Bangkok baby! Ready for 50,000 screaming Thai monsters. I wanna get lost in a lady market and buy a fake rolex.” She was believed to be referring to the popular Ladies’ Market in Hong Kong. Officials at the US embassy in Bangkok were unavailable for comment. -Reuters

Elaborate Portland marriage proposal goes viral PORTLAND: Isaac Lamb acknowledges that his fiveminute, block-long choreographed build-up to a marriage proposal has upped the stakes for everyone who follows.

“Guys, I’m sorry,” he said on NBC’s “Today” show Tuesday. “That wasn’t my intention.”

The Portland-area thespian’s creative proposal last week to girlfriend Amy Frankel featured about 60 people dancing on a small street near his parents’ home. Video of the performance has gone viral, notching more than 6 million YouTube hits so far.

Lamb is pitching it as the world’s first lip-synched proposal, and there don’t appear to be any challengers.

The video begins with Lamb’s brother putting headphones over Frankel’s ears as she sits facing out the back of an SUV, her legs dangling over the rear bumper.

“This song tends to exemplify you and Isaac’s relationship to me,” the brother tells her, and there begins Bruno Mars’ sugar-pop, up-tempo ballad “Marry You.” The car starts moving and two of the couple’s friends roll into the frame, then a few more. It was nothing that seemed too out of the ordinary, Frankel told NBC’s “Today.” She and Lamb are actors and are used to elaborate stunts. Frankel thought: “Oh, they’re doing something with Isaac’s family,” she told the show. “There’s seven of them. This is so sweet.”

A second camera - the one that gives the video its emotional heft - is perched above Frankel’s face, capturing her reaction. It shows her as she crosses her hands on her chest, shakes her head, giggles and swoons.

The proposal is elaborate but not expensive, choreographed but not constrained. In this city where the television show “Portlandia” suggested young people go to retire, most of the dancers in the video look like they fell off the bus from central casting headed for its set.

For all the pageantry, though, the proposal itself was pretty simple. “You have already given me a lifetime of happiness,” Lamb tells Frankel when the music stops.

“Will you let me spend the rest of my life trying to give you the same? Will you marry me?”

She nods, and they kiss as a man in the background wearing a marching-band costume wipes away a tear.

Lamb’s proposal is not the first wedding-themed video to go viral. Jill and Kevin’s wedding entrance dance from 2009 set the standard for matrimonial cool and - at 75 million online views - spawned countless imitators.

Asked on “Today” about her favorite moment of the dance routine, Frankel said it was when she first saw Lamb appear on the street.

“When they all parted, and there was Isaac,” she said.

“That was the first time I think I took a breath.” -AP

This May 25, 2012, photo, shows actor Isaac Lamb and Amy Frankel in Portland, Oregon. (AP)

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ALWATAN DAILY

AROUND TOWN / TIME OUT

THURSDAY, MAY 31, 2012

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

Feature o f

graffiti

the day

moderately confused

KES celebrates end of academic year with concerts

KUWAIT: Proud parents of the four-year-old KG children, young students attending Kuwait English School (KES), gathered in the new department hall for nine colorful concerts by each of the classes celebrating the end of the academic year 2012.

“It’s lovely to see you here this morning,” said Helen Searle, Preparatory Department Head Teacher.

Mme. Naela, KES Vice-Chairman, Mme. Rula, KES Financial Director, and Rhoda Elizabeth Muhmood, KES Director, attended the event.

“Word perfect” said Mrs Muhmood, praising the children for their infectious enthusiasm and the wonderful atmosphere their singing created. “Please reserve quality time with your children during the summer. Don’t put out that fire,” she advised, encouraging the parents to continue to speak English at home and on vacation.

The program began with the National Anthem. The tiny tots, all wearing t-shirts adorned with their own photographs, delivered the cutest welcoming speeches.

“Good morning to all the parents,” Nawaf chirped, winning the hearts of the audience. “Welcome to our concert,” added Maya and Ahmed.

‘Hello Everybody’, and ‘I jump out of bed in the morning’, both lively songs with actions started the concert. The children swayed from side to side in tune with ‘I’d like to teach the world to sing’, and launched into some interesting aerobic exercises with claves, tapping the sticks rhythmically to the ‘Music, music, music’. The children rang morning bells keenly in ‘Frere Jaques’, but Abdulrahman had to remind parents to turn off their ringing phones.

Mohammed was clearly a football enthusiast. We could hear his voice as he sang ‘Waving flag’. Saoud and Fahad K. beat the African ‘tublah’ drums with all their might, as multicolored flags waved by the children floated across the stage (decorated by Mrs Kismet, KG Head Teacher).

Month a t

Mrs Nara, Preparatory Department Music Teacher, accompanied the small students on the piano in a rendition of ‘Mr. Sun’ and ‘Doe a Deer’. We chuckled as an infant in the audience joined in!

‘Animal Boogie’ was next. Fayez was the cuddly bear, Abdulrahman was the swinging monkey, Mohammed the stomping elephant, Mazan the flying bird, Fatma the leaping leopard and Juwana was the slithering snake. ‘We are the World’ ended the mini event.

Thank you for coming to our concert,” said Lily and Omar. “We hope you enjoyed our performance,” said Manal. “We’re so proud you came,” said Asha and Mohammed. “We are KGSL. Thank you for coming to our concert,” the whole class said together. They sweetly sang the ‘Goodbye’ song from the Sound of Music as a final farewell.

“Well done all of you. That was beautiful singing.

You all knew all of your words and you all knew all of the actions. I was smiling all the way through,” Mrs Searle said. She then presented each child with a certificate, decorated with a self portrait of every student in the class.

Mrs Searle thanked Mrs Nara, Music Teacher, Mrs Lubna, KGSL Teacher, and Lulwa, KGSL Assistant, for all of their hard work with the children.

Sudoku

Elementary

Intermediate

Advanced

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

a glance 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.

Spanish Cinema Week June 3 - 7/7:30 p.m. - 9:30 p.m./Abd Al-Razaq Al-Baser Theater: Kuwait Cine Club and the National Council for Culture, Arts, and Letters in sponsorship from the Embassy of Spain present the Spanish Cinema Week starting on Sunday June 3rd and continuing through to Thursday June 7th. The film week will take place in Abd Al-Razaq Al-Baser Theater (back entrance to main building of National Council for Culture, Arts and Letters on the corner between Mubarak Al Kabeer Street and Shuhada Street, Kuwait City) starting at 7:30 p.m. and ending at 9:30 p.m. all films will be in the Spanish original version with English subtitles and entrance is free of charge.

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

Arabic Course

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.

June 3 - July 14/TIES Center: TIES Center is glad to announce the start of Arabic Courses. Starting June 03 and ending July 14, 2012.We offer classes for all levels, from beginners to advance level. TIES Arabic classes are intended for all expatriates who wish to learn Arabic for whatever purpose - business, basic communication, as a second language or simply as a hobby. Throughout the course the students will learn how to read, write ands peak Arabic in a friendly, relaxed and welcoming environment. For more information/registration, contact 25231015/6 or 97228860/97793440 or visit www.tiescenter.net.

Anmatt 2 - The Clash of the Icons June 3 - 21/10 :00a.m. - 1:00 p.m. & 4:00 p.m. - 8:00 p.m./Dar al Funoon: The dialogue continues between poetry, story, geometry, society, iconography and color in the work of Abdulla Al-Awadi. In various artworks there may be more than one icon competing for visual supremacy although in most cases the battle is clearly won by the stronger icon. This is the second collection of Abdulla Al-Awadi that shows at Dar al Funoon about the subject of patterns. The event will open on June 3rd at 7:00 p.m. and continue through to Thursday June 21st with exhibition hours going from Sunday to Thursday 10:00 a.m. to 1:00 p.m. and 4:00 p.m. to 8:00 p.m. located at Dar al Funoon in Al Watiah, Behbehani Compound, House No. 28. For further information call 2243 3138 or visit www.daralfunoon-kw.com and news.daralfunoon.kw.com.

AUB Annual Gala Dinner June 1/ 8:00 p.m./Sheraton Hotel: AUB Alumini in Kuwait hold a Charity

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

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

Picking up a hitchhiker on the side of the road may at first seem risky, Aries, but actually prove to be a rewarding and enriching experience. Dispel the myth of “dangerous stranger,” in which there’s always fear of something unknown. Take a risk with the unknown today and don’t let your fears keep you from missing out on a potentially wonderful experience. Enjoy!

Taurus: April 20 - May 20

Take off to the stars today, Taurus, and keep your mind and heart open to all possibilities that can come when you have faith in yourself and the work you do. Mastery of a skill comes when you have the guts to always take it to the next level. Consider different areas of your life that require more of that confidence at this time.

Implement this courageous attitude.

Gemini: May 21- June 21

The masculine and feminine sides of your personality should be working together well today, Gemini. The key is to keep the energy moving. Don’t stagnate on any one issue. Use all your words and nurturing abilities to soothe others’ worries. Actively direct your energy outward with the tender sensitivity that you possess.

Cancer: June 22 - July 22

There is power in your words today, and a great deal of emotional self-confidence, Cancer. Things may be moving quite rapidly, but you certainly have the strength and swiftness of mind to keep up. There are great opportunities waiting if you do, especially when you team up with others. Attend a social gathering where you can proudly display your elegant attire.

Leo: July 23 - August 22

This is a good day for you to get out of the dirt and into the air in order to gain a fresh, new perspective on a situation, Leo. Don’t dwell on things beneath you. Keep looking up. Pick up the phone and call friends you haven’t spoken in a while. There’ll be a great deal of catching up to do. Sometimes we forget the importance of maintaining contact with our old buddies.

Virgo: August 23 - September 22

Don’t twiddle your thumbs today waiting for someone else to make the first move, Virgo. There is apt to be a burning restlessness inside you that’s anxious to get things done. Don’t wait any longer to cure this thirst for adventure. Important things have to be accomplished, so get off the couch and move.

Libra: September 23 - October 22

Keep yourself open to all the possibilities that the day brings, Libra. You’ll be surprised at the incredible opportunities that come your way when you stop judging people and actions. This is a time to be social and humorous. Keep things light, and have a healthy perspective on any situation. Words will go a long way today, so ensure you use them with great care and love.

Scorpio: October 23 - November 21

Make sure there is an equal amount of give and take in your day, Scorpio. Sometimes when you love someone, you just want to keep giving and giving to demonstrate your incredible love. Be sure that you aren’t draining yourself of valuable energy that you need for yourself. Also be sure that the people you’re giving to are also giving their own fair share in return.

Sagittarius: November 22 - December 21

You may be at a point in which you just want to stop and rest, Sagittarius. This is the time to do so.

You deserve a break so just have fun. Be social with large groups of people and share your ideas.

There’s more fun to be had in numbers so make plans for the day accordingly.

Capricorn: December 22 - January 19

Don’t let things bother you, Capricorn. Have confidence that you’re on the right track. Your strong will and erratic habits will prove quite effective on a day like today, when things seem to be floundering and indecision abounds. Take the opportunity to grab reins where other people have dropped. You’ll be on center stage because you know exactly what to do or say.

Aquarius: January 20 - February 18

Find a wide-open field to frolic in today, Aquarius.

Pick some wildflowers and put them in a vase on your kitchen table. Small things can bring a great deal of sunshine to even a stagnant situation. Clear your mind of all unnecessary clutter and open it to new possibilities. Getting out and taking a walk in nature will help you gain a fresh, new perspective of the situation.

Pisces: February 19 - March 20

Tap into the electrifying energy of the day that encourages social interactions and activities, Pisces.

You’ll find that there’s a great deal of oxygen to keep your internal fire raging. Take the lead and others will follow willingly. Chords may be struck within you today that will so resonate with larger plans you’ve been secretly brewing.

ALWATAN DAILY

SPORTS

thursDAY, may 31, 2012

19

Tennis

Federer beats Connors Slam Djokovic, Azarenka reach 3rd round at French Open record at French Open Swiss Roger Federer serves to Romanian Adrian Ungur during their Men’s Singles 2nd Round tennis match of the French Open tennis tournament at the Roland Garros stadium, on May 30, 2012.

(AFP)

PARIS: Roger Federer set a new record of 234 Grand Slam match wins on Wednesday when he overcame a mid-match wobble to beat Romania’s Adrian Ungur 6-3, 6-2, 6-7 (6/8), 6-3 and reach the French Open third round.

Federer had already equaled Jimmy Connors’ mark of 233 wins at the majors in his opening round victory against Germany’s Tobias Kamke on Monday.

The 16-time Grand Slam title winner now stands at 234 victories against just 35 defeats in his majors career.

The Swiss third seed will face either Slovakia’s Martin Klizan or Nicolas Mahut of France for a place in the last 16.

The 27-year-old Ungur, the world number 92, knocked out Argentine veteran David Nalbandian in the first round on his Grand Slam debut, having failed to qualify for any major on 13 previous occasions.

He was swept aside on the first two sets on Wednesday, his failure to win a point against the serve in the second set highlighting the daunting challenge he was facing.

But he suddenly rallied in the third, slashing his error count and even carving out two set points in the 10th game which Federer saved.

Ungur then saved two match points in the tiebreaker before he stayed alive by reeling off four points in a row and taking the set when Federer dumped a backhand drive into the net.

That was about as good as it got for the Romanian who was made to pay for wasting two break points in the first game of the fourth set.

Federer, playing in his 50th straight Grand Slam event, held and broke for 2-0 before eventually sealing the tie in the ninth game when Ungur slapped a backhand return wide. -AFP

Olympics

Rifle passion drives female Kuwaiti shooter KUWAIT: Mariam Erzouqi grips her German-made air rifle with carefully-manicured hands, steadies her footing, eyes the target and slowly pulls the trigger until a soft crack echoes through Kuwait’s cavernous shooting range. The 24-year-old, who is set to become the second Kuwaiti woman to compete at an Olympic Games, has an affinity for her rifle and will take dead aim at a medal in the 10 and 50 meters air rifle in London.

She first held a rifle at Kuwait’s shooting club aged 17 and recalls that date - June 16, 2004 - without a moment’s hesitation. “At the beginning I practiced just to fill my time, then afterwards I discovered that I was very attached to the rifle,” said Erzouqi, dressed in multi-colored team jumpsuit emblazoned with her family name, a black headscarf and heavy duty boots. “I loved the sport and it quickly turned into a profession rather than a hobby.” Erzouqi comes from a family of female shooters who helped form her vital support base. All four of her sisters took up the rifle under the guidance of their watchful mother Awatif, who is also a shooter and competition judge. Mariam and her 14-year-old sister Heba pursued the sport and are now friendly rivals.

She makes sure her daughter keeps to a timetable drawn up by her coach which has her juggling training sessions at the Kuwait shooting complex up to six days a week alongside her studies. “Shooting is not just for young men, there are also girls doing it. It is not rough. It calms my nerves and helps me to focus.”

Erzouqi is seen as especially fortunate with the support she has received in Kuwait, where women can find themselves unwelcome at other sporting clubs or on the receiving end of disapproving comments from more conservative corners of society.

There are also questions over Kuwait’s participation in the Olympics this year. The International Olympic

Committee suspended Kuwait in 2010, saying there was evidence of political interference in the Kuwaiti sports movement. Kuwaiti officials have said they were working with the IOC to resolve the issue in time for the Games and that they expected Erzouqi and her team mates to be able to fly the national flag in London.

But a decision by the IOC at a recent meeting in Quebec means that Kuwaiti competitors could participate under the Olympic flag with the title “Independent Olympic Athlete”. Erzouqi is following in the footsteps of Danah Al-Nasrallah, the first female Kuwaiti athlete to compete at an Olympics. Nasrallah took part in the 100m in 2004, ranking 61st of 63 competitors in the first round. Erzouqi’s chances look better. The petite business administration student finished second in the Asian qualifiers in the 10m rifle category, her best discipline.

She won two gold medals at the recent Arab Games and is competing in one of Kuwait’s traditionally strong sports. The country won its only Olympic medal - a bronze - in the double trap shooting competition at the 2000 Sydney Games.

The Kuwaiti media has been full of positive coverage of her achievements and the shooting club says it encourages female participants to take up the sport.

This is in stark contrast to neighboring Saudi Arabia which has never sent a female athlete to the Olympics and discourages women from sport altogether.

Around 45 girls and women come to the Kuwaiti shooting club on a regular basis, compared to 160 men on the national team. As an international competitor, Erzouqi receives a 400 Kuwaiti dinar (1,428 US dollars) monthly stipend from the government. As the Olympics falls in part during the Muslim holy month of Ramadan, Erzouqi will be fasting, but she says this should not affect her performance thanks to her training. -Reuters

PARIS: Victoria Azarenka was back to her top-ranked self at the French Open on Wednesday. The Australian Open champion from Belarus easily advanced to the third round at Roland Garros by beating Dinah Pfizenmaier of Germany 6-1, 6-1 on Court Philippe Chatrier.

In the first round, Azarenka struggled early before winning 12 of the final 14 games to advance. She committed 60 unforced errors in that opening match, but brought that number down to only 11 on Wednesday. Azarenka reached the quarterfinals at Roland Garros last year, matching her best performance at the clay-court Grand Slam. U.S. Open champion Sam Stosur also advanced, beating Irina Falconi of the United States 6-1, 6-4. Later Wednesday, top-ranked Novak Djokovic was playing Blaz Kavcic of Slovenia, and 2009 champion Roger Federer was scheduled to face Adrian Ungur of Romania. In the women’s tournament, No. 3 Agnieszka Radwanska of Poland was to playVenus Williams in the last match on Chatrier.

On Tuesday, Serena Williams showed that, even after 13 Grand Slam championships and dozens of other titles, she is capable of throwing away a big lead.

Williams led 5-1 in the second-set tiebreaker and was two points from victory nine times but still lost to Virginie Razzano of France 4-6, 7-6 (5), 6-3 - the first time she has ever lost in the first round of a Grand Slam tournament.

“I definitely was nervous. I’m always a little nervous in every match I play, which I think is a little bit healthy,” said the fifth-seeded Williams, who had been 46-0 in the first round of majors. “I was definitely a little nervous.”

Williams entered the tournament with a 17-0 record on clay this year. And it looked like No. 18 was in the bag late in the second set. But Razzano won six straight points to take the set and then won five straight games in the third.

“I just felt I couldn’t get a ball in play,” Williams said. “You know, when I did, I just felt like I was hitting late and, I mean, how can you hit late on a clay court? It was kind of odd.” Defending men’s champion Rafael Nadal had no such trouble, start-

Novak Djokovic of Serbia returns the ball to Blaz Kavcic of Slovenia during the French Open tennis tournament at the Roland Garros stadium in Paris May 30, 2012. (Reuters)

Victoria Azarenka of Belarus serves to Dinah Pfizenmaier of Germany during the French Open tennis tournament at the Roland Garros stadium in Paris May 30, 2012. (Reuters)

ing his quest for a record seventh French Open title by beating Simone Bolelli of Italy 6-2, 6-2, 6-1. Maria Sharapova had an even easier time, scoring a ‘’double

bagel’’ in her 6-0, 6-0 win over Alexandra Cadantu of Romania. “I feel like with every year I have improved,” Sharapova said, “and I enjoy it much more.” -AP

Basketball

Spurs silence Thunder to notch 20th straight win SAN ANTONIO: The San Antonio Spurs continued their perfect run in the playoffs, marching to a record-breaking 20th straight win as they fended off Oklahoma City Thunder 120-111 to take firm control of the Western Conference Finals.

The top-seeded Spurs surpassed the 2001 Los Angeles Lakers’ 19-game winning streak from the regular season into the playoffs, taking a 2-0 lead in the bestof-seven series on the back of four-game sweeps of the Jazz and the Clippers.

The 1971-72 Lakers hold the longest winning streak of 33 games in the regular season.Tony Parker exploded for 34 points and eight assists, sixth man Manu Ginobili netted 20 to follow up his 26-point effort in the series opener, and San Antonio treated their fans to yet another triumph since their last loss on April 11.

However, the Spurs seemed less than satisfied with their latest success and coach Gregg Popovich could be seen yelling at Parker in the third quarter even with his team up 16. “He’s been yelling at me for 11 years,” Parker told reporters after making 16 of his 21 shots. “We were playing sloppy and OKC (the Thunder) came back on us. He wanted to make sure I kept pushing the ball.”

Kevin Durant scored 31 points and James Harden put up 30 for the Thunder, who squandered a nine-point lead in the fourth quarter of Game One but were behind all night in Game Two.

San Antonio Spurs shooting guard Manu Ginobili (left) of Argentina and Oklahoma City Thunder point guard Derek Fisher (right) reach for a rebound during the second half of Game 2 in their NBA basketball Western Conference finals playoff series, Tuesday, May 29, 2012. (AP)

The visitors trailed by as much as 22 points in the third quarter before trimming the deficit to six in the fourth, only for the veteran Spurs to deliver the knockout punch. Ginobili drained a clinching three-pointer with 1:29 left to establish a 10-point advantage, letting out an intense scream to signal the triumph.

“We fought hard but it was too big of a deficit,” Harden said. “We can’t put ourselves in that situation.”

Having lost only one game from the first two rounds of the playoffs, the Thunder will hope to claw back into the series in Game Three on Thursday when they head home to Oklahoma City. -Reuters

Cricket

Bangladesh name Pybus as new coach Sahara Group set to become Bangladesh cricket sponsor

FILE- Bangladesh supporters hold their national flag as they cheer for their team during the Asia Cup final cricket match between Bangladesh and Pakistan in Dhaka, Bangladesh, Thursday, March 22, 2012. (AP)

DHAKA: Bangladesh on Wednesday named the former Pakistan coach Richard Pybus as their new head coach on a two-year contract.

The 47-year-old, who had two spells with Pakistan, takes over from former Australian cricketer Stuart Law, who is stepping down less than a year into his two-year contract for family reasons. Confirming the Pybus appointment, Bangladesh cricket spokesman Jalal Yunus told AFP: “He will join the Bangladesh team in the first week of June, just before the team travels to Zimbabwe for the tri-nation T20 cricket series.”

“He has rich experience as a coach. He visited Bangladesh three weeks back when he spoke with players, board members and support staff.

He knows the conditions here very well.” Law leaves Bangladesh in good form after defeating India and Sri Lanka on the way to the Asia Cup

final in Dhaka, which they lost to Pakistan. “The next few months will be about building relationships with the players and the coaching staff and ensuring that the progress made up to the Asia Cup continues,” said Pybus, who was born in England but raised in Australia.

Pybus turned to coaching in his mid-twenties after injury halted his playing ambitions. He coached in South Africa before taking over the Pakistan team between 1999 and 2001 and in 2003.

India’s business giant Sahara Group is set to become the new sponsor of the Bangladesh cricket team after offering 9.4 million US dollars over four years in a tender process that ended on Wednesday, officials said.

“We are delighted to announce that Sahara has appeared the highest bidder to become new sponsor of our national team,” Bangladesh CricketBoard (BCB) president AHM Mustafa Kamal told reporters. Officials said Sahara offered more than double their nearest rivals Robi

Axiata Ltd - a joint venture between Malaysia mobile phone operator Axiata Group and Japan’s leading mobile phone service provider NTT Docomo Inc - which offered 4.28 million US dollars. Bangladesh’s top mobile phone operator Grameenphone, the team’s previous sponsor and the only other bidder, offered 3.2 million US dollars, said the officials.

Grameenphone paid the BCB 100 million Bangladesh Takas (1.22 million US dollars) for a two-year deal, which expired in December 2011. Sahara, which also sponsors India’s national cricket team, recently entered the Bangladesh market through its subsidiary Sahara Matribhumi Unnayan Corporation Ltd. The company said it has a primary investment plan of about 120 million US dollars for a township-housing scheme near the capital Dhaka. Sahara, which sponsors India’s men’s and women’s hockey teams, was co-sponsor of the 2010 Commonwealth Games held in Delhi.

-Agencies

thursday, may 31, 2012

SPORTS

Sports Editors Highlight

PARIS: Italian Claudio Ranieri was on Wednesday unveiled as coach of fallen giants Monaco, who finished eighth in the French second division last season.

The 60-year-old former Chelsea coach signed a two-year deal, with an option on a third year, and takes over from Marco Simone, who left Monaco earlier this month.

Ranieri was sacked as Inter Milan coach in March after a year in charge there and previously also coached Napoli, Fiorentina, Juventus, Roma, Parma, Atletico Madrid and Valencia.

“The Italian is today considered one of the best coaches in European football and brings to Monaco all the richness of his experience and all he has achieved in football”, Monaco said in a statement. -AFP

Football

Giroud looks to bring something new to Les Bleus

Montpellier’s Olivier Giroud celebrates with teammates as Montpellier team won the French L1 football championship, May 20, 2012. (AFP)

PARIS: France striker Olivier Giroud said Tuesday that he was looking to bring something new to Les Bleus after getting his first call-up to an international finals for Euro 2012. France coach Laurent Blanc on Tuesday named his final 23-man squad which included Giroud with Lyon’s Yoann Gourcuff and Giroud’s Montpellier team-mate Mapou Yanga-Mbiwa the two men axed from the provisional list.

“My role will be to bring something different,” explained the 25-year-old Giroud, who had a superb season last term with his 21 goals a major reason for Montpellier winning their first ever Ligue 1 title.

“I’ve an atypical profile and I hope to be able to transform what I know what to do onto the pitch.”

The Montpellier player said that making the Euro squad had been his primary focus since the beginning of the season.

“The pressure is going to build as the days go on.

It’s something new for me, something different. I’m

very proud to wear the blue jersey, it really makes you want to be there. It’s very exciting. There will be pressure but a good pressure.”

Giroud believes that France have the form to capture a third European title after 1984 and 2000 despite having to battle back from two goals down at half-time to beat Iceland 3-2 in the first of three warm-ups for Euro 2012 on Sunday.

“We’re capable of great things. We’ve beaten great footballing nations.We got a slight scare against Iceland but we showed our character.There are things that need to be worked on but there are good things.We just have to find the right balance, to be serene defensively.”

He added: “We can’t wait for the competition to start and to clash with the English. We’re impatient to measure ourselves against them and to see if we’re capable of getting out of this tight group.”

France have been drawn in Group D with old rivals England, co-hosts Ukraine and Sweden. -AFP

No Euro surprises according to Ronaldo

Portugal’s Cristiano Ronaldo controls a ball during the training session in Obidos village stadium, May 28, 2012.

(Reuters)

OBIDOS: Portuguese star Cristiano Ronaldo played down hopes of his side lifting the European Championship title on July 1 on Tuesday saying he just hoped they could reach the knockout stages.

The 27-year-old - fresh from lifting the La Liga title with Real Madrid - couldn’t really see too many surprises on the horizon at Euro where his side faces a tough battle to progress from their group.

The Portuguese - who reached the final in 2004 when they hosted it and the quarter-finals last time out - have been drawn with three former champions in Germany, the Netherlands and Denmark.

“I don’t think that in this Euro there will be a lot of surprises,” said Ronaldo, who has often been criticized for not repeating his club form for his country.

“Spain are really strong and behind them there are difficult sides to play. We realize we are in a difficult group, the group of death, and our priority first of all is to get through the first phase. We have fallen among Germany, the Netherlands and Denmark, who beat us in the qualifying group, leaving Portugal to come through the play-offs, but I have a reasonable hope that we will qualify from the group.

“We are not favorites, and so much the better for that.”

They start their campaign proper in Group B against Euro 2008 finalists Germany on June 9 in Lviv, Ukraine, followed by 1992 champions Denmark on June 13, also in Lviv, and round it off against 1988 champions Holland on June 17 in Kharkiv. -AFP

Hungry Torres in great shape, says Reina MADRID: Fernando Torres is in his best physical and mental shape for some time and is itching to play an important part in Spain’s bid to retain their European title, reserve goalkeeper Pepe Reina said on Tuesday.

With record Spain scorer David Villa ruled out of the tournament, Torres is primed to put a lengthy period of poor form behind him, Reina, who played with the striker at Liverpool, told a news conference in Berne.

“It’s been a while since I have seen him like this,” Reina said. “Physically, he is in good shape. Mentally he feels he is an important player in the national team, all the more so since Villa pulled out, and he relishes that role,” he added. Torres has had a torrid time since joining Chelsea in January 2011 but recently has started to look something like the player who struck fear into defenses at club and international level and scored the

brilliant goal that beat Germany in the Euro 2008 final in Vienna. The 28-year-old known as “el nino” (the kid) came off the bench to net the goal that killed off Barcelona in their Champions League semi-final second leg and looked sharp when thrown into the fray in the final against Bayern Munich, winning the corner that led to Didier Drogba’s leveler.

He said this week he was determined to repay the faith shown in him by Spain coach Vicente del Bosque and with Villa sidelined by injury is likely to start for the world champions at the tournament in Poland and Ukraine starting next month.

Spain begin their campaign to become the first country to win back-to-back continental titles with a World Cup in between against Italy on June 10, before meeting Group C rivals Ireland and Croatia. -Reuters

US faces benchmark battle with Brazil WASHINGTON: Brazil’s formidable playmakers will face the United States in a Wednesday football friendly that will show the Americans how far they have progressed in 10 months since Jurgen Klinsmann became coach.

Five-time World Cup champion Brazil, 15-1 all-time against the US squad, are testing some talent for the London Olympics as they build toward a homesoil World Cup. Brazilians have never won an Olympic crown but that does not dim the demands of the football-mad nation on coach Mano Menezes, a fact Klinsmann knows well from his days as player, coach and World Cup organizer in Germany.

“The people expect from him results all the time,” Klinsmann said. “People expect him to come away from the Olympics with the gold medal. They not only want to win the World Cup. They want to win it in style. We can’t get it any more difficult in a certain way. But this is what we need. We need the games that are difficult to see how far we can take it.”

Klinsmann said the Brazilians face a challenge of their own, improving defensively to match the success of reigning World Cup champion Spain.

Brazil will add defender David Luiz from Champions League winner Chelsea and Santos striker Neymar, who leads a young Brazil roster with eight goals, to the Selecao lineup that defeated Denmark 3-1 on Saturday in Germany.

“We are making strong efforts in speed and tactics as we make final preparations to face the United States,” Brazil captain Luiz said.

US national team coach Jurgen Klinsmann speaks to his players during a training session at the University of Maryland, May 28, 2012. (AFP)

Powerful Porto attacker Hulk, a contender to play at the London Olympics as an over-age player, scored twice in the victory at Hamburg.

“They set the tone. They have wonderful players,” Klinsmann said. “The question is how much can we take to them, in terms of tactics, closing them down, causing them some trouble, making the spaces tight. They go-high tempo from the first minute. They love to be creative. Once they have to defend and you create a couple things, they have a couple weaknesses and maybe we can take advantage of them.”

A young Brazil side also includes Sao Paulo midfielder Lucas, AC Milan defender Thiago Silva and goalkeeper Jefferson, who has three shutouts in four national team appearances.

Brazil edged the US team 3-2 in the final of the 2009 Confederations Cup in South Africa, a loss that still stings the Americans but will carry little weight, Everton’s Howard said.

Brazil won the most recent match against the Americans 2-0 in 2010 at East Rutherford, New Jersey. The only US win was a 1-0 triumph in 1998 at Los Angeles. -AFP

Baines relishes United link but focuses on Euros LONDON: Everton defender Leighton Baines admits he is flattered to be linked with a move to Manchester United, but the England international won’t let the transfer talk distract him at Euro 2012.

United boss Sir Alex Ferguson is believed to be considering a bid for Baines, who is with Roy Hodgson’s England squad as they prepare for the tournament in Poland and Ukraine next month.

Baines refused to rule out the possibility of joining United if Everton were willing to sell their left-back, but the 27year-old is adamant he is firmly focused on helping England enjoy a successful campaign at the Euros.”

The United link is flattering. There is no harm in people talking about it because it is a great club,” Baines told reporters at England’s team hotel in Hertfordshire.

“But I’m at a great club as well, a club that I love. The focus now is all on the tournament. There’s not much time to let other things seep in. It’s about getting your head on this job for the next six weeks and try to do the best you can. I’m not letting my focus shift to my future while I am in camp. I’m focused on what I’m doing at the moment.”

Asked if it would be hard to leave Everton, he added: “Yes, obviously. You know what it means. I’ve been there for five years myself but also know first-hand what it means to a lot of people.”

Baines is unlikely to feature much for England at the Euros unless fellow

FILE - Leighton Baines (right) of England vies with Arjen Robben of Netherlands during a friendly match between England and Netherlands, Feb.29, 2012. (AFP)

left-back Ashley Cole suffers an injury as the Chelsea star is well established as the first-choice for his country.

But, while Baines would prefer not to play second fiddle to Cole, he is happy to learn all he can from one of the world’s best left-backs.

“Cole has always been an inspiration. In my position, he has always been my favorite player from when I was a young lad. I have a tremendous amount

of respect for him,” he said. “Before I was making my way in the game, it was Roberto Carlos, who was doing the freekicks and all that stuff. But, once you start to look at things as a proper player, then Cole has always been a good role model for any player in that position, whether you are 17 or 18 establishing yourself, or late 20s, he is the best. There is always something to learn and you never stop looking for things.” -AFP

I’ll walk off pitch if racially abused: Balotelli

ITALY: Mario Balotelli, named in Italy’s 23-man squad for the European Football Championships, has threatened to walk off the pitch if he is racially abused by fans. The 21-year-old Manchester City star said in an interview with France Football magazine that he reacted differently when Juventus fans targeted him with racist chants during a match for his former club Inter Milan in 2009.

“I pretended not to see anything,” he was quoted as saying. “I wanted to play. I was young. It was for me to tell the referee. Racism is unacceptable. I can’t abide it.”

But he added: “If it happens again, I’d leave the pitch straight away and I’d go home. This is 2012. It can’t happen.”

Fears over racism and violence in co-hosts Poland and Ukraine have mounted this week after the BBC aired a documentary showing fans in both countries making Nazi salutes and monkey chants at black players. The programme also highlighted anti-Semitism and a serious assault on a group of Asian students.

The British government has also issued warning to black and ethnic minority fans about the risk of racist attacks, prompting the families of two black England players to say that they would not be going to support the team. Balotelli, born in Italy to Ghanaian parents but adopted at the age of two, left no doubt as to his reaction if he was subject to racist taunts. He said he was once in a bar in Rome and had bananas thrown at him, explaining that he would have “knocked out” the perpetrators if police had not arrived on the scene quickly. “I hope that doesn’t happen again. If anyone throws bananas at me, I’d go to prison because I’d kill them,” he said in the interview, published on Tuesday.

Both Poland and Ukraine have denounced the warnings about far-right gangs and racism, saying that the problem was widespread across Europe. -AFP

Italy’s Mario Balotelli looks on during a training session ahead of the Euro 2012, at the Italian Football Federation center in Coverciano near Florence, May 21, 2012. (AFP)