TUESDAY, APRIL 17, 2012
Issue No. 1407
150 Fils with IHT
No-confidence motion against Finance Minister finalized
Mohammed Al-Salman, Mohammed Al-Khaldi, Osama Al-Qatari and Ahmed Al-Shemmari Staff Writers
KUWAIT: The Popular Action Bloc finalized a draft motion to question the Minister of Finance Mustafa AlShamali which revolves mainly around four main issues. The interpellation motion, which will be jointly submitted by the bloc and MP Abdurrahman Al-Anjeri, contains issues which include State property, investments meant for the Public Authority for Social Securities, the loans issue involving the Central Bank of Kuwait (CBK) and the Kuwait Investment Authority’s (KIA) foreign investments.
A source within the Popular Action Bloc affirmed that the parliamentary majority is unanimous on the minister’s interpellation, particularly since he is generally viewed as an enterprise for crisis in all aspects. According to the source, this interpellation is different from the ones targeting the Minister of Awqaf Jamal Al-Shehab and the Minister of Interior Sheikh Ahmad Al-Humoud Al-Sabah, adding that the motion is equally backed by certain members of the minority, including MP Saleh Ashour who addressed a barrage of questions to Minister Al-Shamali. The interpellation will be presented during a meeting to be convened by the Majority Bloc on Sunday to take note of any remarks or proposed additions before it is submitted by two or three members representing the
NBK reports net profit of KD 81 million for Q1 2012
CAPITALS: National Bank of Kuwait (NBK), the largest Kuwaiti bank and the highest-rated in the Middle East, reported net profits of 292 million US dollars (81.0 million Kuwaiti dinars) for the first quarter (Q1) of 2012 compared with $291 million (KD 80.8 million) for the same period in 2011. First quarter 2012 net profits came 5.5 percent ahead of the fourth quarter of 2011. As of end of March 2012, NBK Group’s total assets reached $ 51.8 billion (KD 14.4 billion) up 3.5 percent compared to March 2011, while total shareholders’ equity increased by 5.5 percent year-on-year to $8.1 billion (KD 2.3 More on 9 billion).
Fierce clashes as observers begin work in Syria DAMASCUS: Syrian forces were locked in fierce gunfights with rebels in one city and shelled another on Monday, just hours after the first UN peacekeepers arrived to oversee a truce aimed at ending a year of bloodshed. President Bashar Al-Assad’s forces killed two civilians in the central city of Hama and were fighting rebels at Idlib in the northwest, while also shelling the flashpoint city of Homs, said the Syrian Observatory for Human Rights. Since a UN-backed ceasefire came into force at dawn on Thursday, at least 41 people, mostly civilians, have been killed in violence that prompted UN chief Ban Ki-moon to urge Syria to ensure the truce does not collapse. An advance team of six international observers arrived in Damascus late on Sunday, the United Nations said. The delegation - the first of 30 monitors the UN Security Council approved on Saturday - will set up a headquarters and prepare routines so the mission can verify a cessation of hostilities is holding. “They’ve arrived and they will start work (on Monday) morning,” UN peace-
keeping department spokesman Kieran Dwyer said. “The other monitors in the advance party are still expected in Syria in coming days.” The next 25 would come from missions around the Middle East and Africa “so we can move people quickly and they are experienced in the region,” he told AFP. Their mission is just one part of the six-point peace plan that Assad agreed with UN-Arab League envoy Kofi Annan. The former UN secretary general wants more than 200 observers to be deployed in Syria, but the Security Council has said there would only be a full mission if the violence halts. The government news agency SANA said Syria “welcomes” the observer mission, and hoped the monitors would see for themselves the “crimes” committed by “armed terrorist groups.” They face a perilous task, with Western nations doubting the Al-Assad regime’s commitment to the ceasefire amid reports his forces have kept battering rebel strongholds and clashed with oppoMore on 4 sition fighters.
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Amir sponsors Kuwait University graduation ceremony
Iranian espionage network case adjourned to May 25
Ebtessam Saeed Staff Writer
KUWAIT: The Court of Appeal adjourned the Iranian espionage network case, which involves seven suspects, to its session on May 25th. The Public Prosecution had charged five of the suspects with endangering Kuwait’s security after providing Iran with military information concerning Kuwait’s army units, in addition to the location of army bases and camps used by the Kuwaiti and United States armies. The suspects have also provided Iran with pictures, videos and drawings of army bases, their equipments, and their vehicles, as well as oil fields in Kuwait. In another case, Criminal Court ordered the Editor-In-Chief of Arabic newspaper Al-Shahed, former MP Saadoun Hammad, to pay 20,000 Kuwaiti dinars as a result of a case filed by Qatar’s Prime Minister and Minister of Foreign Affairs Sheikh Hamad Al-Thani, after Hammad published news saying that that Qatar’s premier had paid 200 million Qatari Riyals to MP Musallam Al-Barrak.
Norway killer admits massacre, claims self-defense OSLO: With a defiant closed-fist salute, a right-wing fanatic admitted Monday to a bomb-and-shooting massacre that killed 77 people in Norway but pleaded not guilty to criminal charges, saying he was acting in self-defense. On the first day of his long-awaited trial, Anders Behring Breivik rejected the authority of the court as it sought to assign responsibility for the July 22 attacks that shocked Norway and jolted the image of terrorism in Europe. Dressed in a dark suit and sporting a thin beard, Breivik smiled as a guard removed his handcuffs in the crowded court room. The 33-year-old then flashed his salute before shaking hands with prosecutors and court officials. “I don’t recognize Norwegian courts because you get your mandate from the Norwegian political parties who support multiculturalism,” Breivik said in his first comments to the court.
2 protesters climb to top of Bahrain Embassy in UK
A man waves a Bahraini national ﬂag from the top of the Bahraini Embassy in central London on April 16, 2012 during a protest over the imprisonment of political activist Abdulhadi Al-Khawaja who is on hunger strike. (AFP)
LONDON: Two protesters climbed onto the roof of the Bahraini Embassy in London on Monday, unfurling a banner in a protest aimed at the Gulf state’s ruling family. An Associated Press photographer said she saw two men waving a flag on the building’s roof. On Twitter, a user identifying himself as Moosa Abd Ali said they had occupied what he called the den of Al Khalifa, Bahrain’s ruling family. The user posted a photograph of one of the activists perched on the embassy’s roof with an oppo-
opposition blocs. One of the lawmakers expected to submit the motion affirmed that there is no way that the motion can be deferred, particularly since the parliamentary majority was reserved on the reappointment of Al-Shamali. He added that the interpellation will go as far as filing a request for no-confidence vote against the minister, while not ruling out the prospect of the minister being redeployed or resigning. Nevertheless, the source confirmed to Al Watan that a no-confidence motion is ready. Earlier, MP Musallam Al-Barrak called on the minister to be ready to step up to the stage for questioning, and urge him not to shy away from the interpellation.
sition banner draped over the building. The banner carried pictures of imprisoned hunger striker Abdulhadi Al-Khawaja and senior Shiite opposition leader Hassan Mushaima. “Over 60 days on hunger strike,” the banner read. “Save their life.” London’s Metropolitan Police said Monday that it was preparing a statement on the embassy incident. Rescue officials said they had two ambulances standing by at Belgrave Square. Phone calls to the Bahraini Embassy were not answered. -AP
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Bissau shuts air and sea space, uncertainty grows
BISSAU: Frightened residents fled the capital of Guinea-Bissau on Monday and some stockpiled supplies after military chiefs shut the country’s air and sea space following their coup four days ago. As uncertainty in the small impoverished West African state grew, former colonial power Portugal denounced what it called an “absolutely illegitimate military coup” and said it had dispatched a military force in case it became necessary to evacuate its citizens. The prospect of Portuguese planes and warships appearing off the coast prompted Guinea-Bissau’s military chiefs to shut the country’s air and sea space to all unauthorized traffic. “Non-observance of this measure will imply a military response,” a communiqué announcing the move said. Ordinary people appeared to be bracing themselves for the worst as it became clear that last week’s coup - in which soldiers seized the country’s civilian leaders and cut short a presidential election - had created an unpredictable power vacuum. With Guinea-Bissau’s army leaders appealing for calm, banks and government offices shut down in the dilapidated coastal capital Bissau and travelers - loaded with luggage and children - packed the bus station seeking transport to what they believed would be safer locations in the interior. “I’m worried there’s going to be a war. So I’m going to my village, at Sao Domingos, I’m leaving with my five children,” Djenabou Bari, a housewife in her 40s, told Reuters. Foreign governments and organizations from around the world have roundly condemned the latest putsch by the country’s notoriously unruly military, which has a history of revolts and uprisings. It has more recently been accused of involvement in drug-smuggling. A high-level delegation from the West African regional grouping ECOWAS was due to fly into Bissau to tell military leaders their actions were “unacceptable”. Military sources said the ECOWAS delegation would be authorized to enter the country. Since soldiers arrested interim President Raimundo Pereira and former prime minister and presidential frontrunner Carlos Gomes Junior in an overnight putsch on Thursday, Guinea-Bissau’s military chiefs have been struggling to put a credible administration in place to run the country. -Reuters
Oman’s ruler Sultan Qaboos bin Said, being greeted by His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah upon his arrival to Kuwait on a 4-day diplomatic visit, April 16, 2012. (KUNA) More on 3
Sudanese warplanes bomb UN camp in South Sudan
Specific genes linked to big brains, intelligence
NEW YORK: Brain size and smarts are, to some extent, genetic - and now, a team of more than 200 researchers has uncovered specific genes that are linked to both brain volume and IQ according to LiveScience. Though scientists have suggested bigger brains are “smarter,” this study is the strongest case yet for a genetic connection to brain size and to IQ. Of course, brain size is not 100 percent correlated with a person’s intelligence, and other factors, including connections between brain cells and even a person’s experiences, play roles. “We found fairly unequivocal proof supporting a genetic link to brain function and intelligence. For the first time, we have watertight evidence of how these genes affect the brain,” said lead researcher Paul Thompson, a neurologist at the University of California, Los Angeles, School of Medicine. The international research team pooled brain scans and genetic data from around the world as part of a collaboration known as ENIGMA (Enhancing
Neuro Imaging Genetics through MetaAnalysis).They scoured the data for single genes that influence disease risk as well as for genes linked to brain-tissue atrophy and brain size, said lead researcher Paul Thompson, a neurologist at the University of California, Los Angeles, School of Medicine. “Our individual centers couldn’t review enough brain scans to obtain definitive results,” Thompson said in a statement. “By sharing our data with Project ENIGMA, we created a sample large enough to reveal clear patterns in genetic variation and show how these changes physically alter the brain.” With data from 21,151 people, the researchers were able to link specific genes to variations in brain size. Brains shrink naturally with age, but size is important in a number of mental ailments. Decreased brain volume marks disorders including Alzheimer’s disease, depression and schizophrenia, the researchers report today (April 15) in the journal Nature GeMore on 15 netics.
Palestinian children hold placards of political prisoner Hussam Khader with text reading in Arabic: “Free Prisoners” in the northern West Bank village of Araba, near Jenin on April 16, 2012 in preparation for of Prisoners’ Day on April 17, which is an annual event during which people hold demonstrations and rallies of solidarity with the estimated 4,700 Palestinian inmates being held by Israel. (AFP)
TuesDAY, april 17, 2012
MP Dashti warns against amending Article 79 of Constitution Abbas Dashti Staff Writer
KUWAIT: Member of Parliament (MP) Abdulhamid Dashti warned against the behavior of the majority MPs for the policies they have been adopting, which he claims only serves their interests and is favorable to their constituency. He accused the majority MPs of trying to transform Kuwait into a religious country by proposing to amend Article 79 as well as the Second Article in the Constitution. “They are unaware that Kuwait was a
religious state since its establishment by its founder Sheikh Sabah the First. It was also a civil state with Constitutional philosophy safeguarding democracy and freedom,” he said. Speaking to Al Watan, MP Dashti expressed his surprise at the lawmakers who on one hand had sworn to preserve the Constitution and yet they are working on amending it with the aim of doing away with the Constitution into a theocratic system. He added that the majority of the state departments are penetrated by those who seek to activate their agenda. Dashti called on His
Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah to stand firmly against them, while calling on maintaining democracy and keeping internal strife and sectarianism at bay. MP Dashti called on the Kuwaiti people and the rest of the lawmakers to resist such proposal. He also wondered why the MPs are keen to amend certain items in the Constitution when they have been accepted for many years by the people of Kuwait. Meanwhile, Member of the Justice Bloc MP Mohammad Al-Hatlani asserted that the amendment of Article 79 of the Constitution
No-confidence motion against Finance Minister finalized
does not overrule demands to amend Article 2, since it is considered to be the first step towards achieving this great goal. He added that the amendment of Article 79 of the Constitution is an Islamic objective set by the majority of the MPs. However, he mentioned that the approval of this amendment requires more efforts and the maintaining of the synergy among the parliamentary majority. He added that people developed a misconception to the Islamizing of laws and the implementation of Islamic Shariah, since they believe that Islamic Shariah is limited to beheading and chopping off
hands. He explained that Islamic Shariah is a comprehensive system that has solutions to all problems found in the society, whether in the fields of economy, politics, or society. He said that the West have discovered the advantages of Shariah during the recent global economy crisis and began to depict aspects of the Shariah to the economy, such as the banning of interest. He stressed that now is the time to follow Islamic Shariah that has been limited to certain laws; especially that Shariah guarantees and protects the rights of all people from all sects and religions.
MP Al-Ghanim: Amending projects law to enable overcoming obstacles KUWAIT: The Head of Financial and Economic Affairs Committee, lawmaker Marzouq Al-Ghanim, said in a statement on Sunday that the committee has discussed items concerning the law of minor and intermediate projects, indicating that the law includes 33 items. The lawmaker said that the meeting was attended by different relevant gov-
ernment authorities, such as the Ministry of Commerce and Industry, the Industrial Bank and other institutions. “The notices of the different authorities were registered and taken into consideration during the meeting and the committee will hold another meeting very soon in order to send its final report on the law to the National As-
sembly before the next session,” said Al-Ghanim. He unveiled that amending the law will enable the owners of minor projects to overcome the obstacles that they face and it will contribute effectively in transferring manpower from the public sector into the private one as well as decreasing unemployment.
Al-Duwaisan: Majority Bloc attempts to exclude minority members FILE- Room view photo of a recent Parliament session. (Al Watan) CONTINUED FROM PAGE 1
“If Al-Shamali has any objection to the recommendation made by the Public Funds Protection Committee regarding the suspension of the Chairman of Kuwait Investment Company, then he should tell us. On the other hand, if he believes that the chairman is right then let him face the interpellation for clarification,” the outspoken opposition MP was quoted as saying. In reaction, Minister Al-Shamali asserted that the said committee, being a parliamentary investigation panel, is not entitled to suspend Badr Al-Subaie or even to make such a recommendation. He added that KIA’s decision to renew the tenure of Al-Subaie was in December 2011 and was approved in January. The minister stressed that all the statements that are out of step with the parameters of a Constitutional and legal investigation should cease, noting that such remarks have a negative impact on the company’s image in a competitive market to the detriment of public funds. For his part, MP Nayef Al-Merdas described the minister’s interpellation as deserved, adding that he
will back the motion during a meeting by the Majority Bloc.Meanwhile, the Parliamentary Interior and Defense Committee on Monday met under the chairmanship of Al-Merdas and discussed the issue of the Kuwaiti Guantanamo detainees, the issue of Bedoun (the Stateless Arabs) and the circumstances surrounding the deaths of Mohammad Al-Maimouni and AlBannay, both of whom are Kuwaiti nationals. In another development, parliamentary sources have wondered about a decision by the parliamentary committee probing alleged financial transfers abroad to summon the Minister of Interior Sheikh Ahmad AlHumoud Al-Sabah to appear before the panel today. The sources revealed that the committee chairman MP Dr. Faisal Al-Mislem invited the First Deputy Prime Minister Sheikh Ahmad Al-Humoud Al-Sabah, the Director of the Criminal Investigations Department and the Head of the Security Department in addition to Sadeq Ma’arafi, who serves as an advisor at the Amiri Diwan. Additionally, MP Salem Al-Namlan addressed a question to His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah asking whether individual ministers have set out their agendas.
KUWAIT: Lawmaker Faisal Al-Duwaisan said on Monday that resignation is one of the MPs rights and that they are free to take the decision when they feel that the political circumstances will not help them to achieve their goals. Al-Duwaisan’s statement came after MP Hussein Al-Qallaf said that he might resign from the National Assembly as a result of certain parliamentary practices. Al-Duwaisan added that he resigned from the Legislative Affairs Parliamentary Committee to allow MP Abdulhameed Dashti to join the very committee, since he
is specialized in law. However, he said that the ‘Majority’ Bloc did not react well to the move, although they did not violate the parliament bylaw. The lawmaker said that the Majority Bloc doesn’t prefer working with the minority, therefore attempts to exclude the minority members. Al-Duwaisan affirmed that the majority bloc will never benefit from such policy as it interrupts work progress, adding that the minority members still can do different things like filing interpellation motions.
Al-Roumi: Preparations for hosting Asian summit ‘going well’ Wafa Qansour Staff Writer
KUWAIT: The Chairman of Asia Department at Ministry of Foreign Affairs Mohammad Magren AlRoumi said that preparations for the Asian Summit, called for by His Highness the Amir, is “going well” and according to schedule. He indicated that the summit will take place in Kuwait in October, adding that a supreme joint committee was formed by the Amiri Diwan and Ministry of Foreign Affairs to follow up the preparations. He said in a statement to the press on the sidelines of a celebration held by the North Korean Embassy to commemorate the 100th birthday of the founder of the country’s regime Kim il Sung. Al-Roumi noted that the summit’s agenda has not been formed yet; however, he indicated that it is planned to on economic issues, ties amongst the Asian countries, and solving all disputes through peaceful means. Regarding the visit of the Iranian President to the
Island of Abu Musa, Al-Roumi disclosed that the Gulf Cooperation Council will hold a meeting on Tuesday to discuss the matter. He affirmed that Kuwait enjoys distinguished ties with the different countries of the world, adding that a number of countries will take a part in the next summit such as India, Pakistan, Bangladesh, Sri Lanka and many other countries. The Iranian ambassador to Kuwait Rouhullah Qahremani described the visit of the Iranian president to the Island Abu Musa as an ordinary visit, indicating that Iran abides by all international agreements with the United Arab Emirates. He said that negotiations with the UAE concerning the island are still in progress. In a similar field, Al-Roumi said that the joint Kuwaiti-Iranian committee will hold a meeting within a month where it will be headed by the foreign affairs ministers of both countries to discuss certain issues. The Korean Ambassador to Kuwait extolled the strong Kuwaiti-Korean ties and cooperation, hoping cooperation and ties to get stronger in the future.
Photo of family members, friends and fans carrying the deceased Kuwaiti football player Sameer Saeed during his burial service on Monday, April 16, 2012. Saeed passed away on Sunday due to injuries sustained from a car accident. (Al Watan)
PM urges Social Reform Society to maintain Kuwait’s reputation Nafel Al-Humaidan Staff Writer
KUWAIT: The Chairman of the Social Reform Society Humoud Al-Roumi affirmed on Monday that the society has always been keen on maintaining Kuwait’s reputation abroad. Following an audience with His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah, Al-Roumi told Al Watan that all the society representatives abroad make sure that an invitation is ex-
tended to the concerned Kuwaiti ambassador whenever a new project is commissioned who, in turn, submits a report to the Foreign Ministry about the project. Al-Roumi, who was accompanied by the board members of the society, described the meeting as cordial, adding that Al-Mubarak listened to the achievements registered by the society and that he was presented with some of its publications. He revealed that the prime minister has been invited to patronize and attend the inauguration of the Mubarak Al-Ka-
beer Quran Center which is due to be commissioned in few weeks time. Al-Roumi further stated that His Highness the Prime Minister had asked the society to maintain Kuwait’s reputation abroad, and that the latter was reassured that the society does not condone anything harmful to Kuwait, particularly that His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah, His Highness the Crown Prince Sheikh Nawaf Al-Ahmad and the entire government render relentless support.
Thirteen mycosis fungoides’ patients in Kuwait per year
Dignitaries are seen in a group picture during a celebration held in the North Korean Embassy on Saturday, April 15, 2012 to mark the 100th birthday of the country’s founder. (Al Watan)
KUWAIT: Mycosis fungoides infects 12-13 residents of Kuwait per year and exists in the world at a rate of 2-5 percent of the global population annually, according to the skin specialist Dr. Mohammed Al-Otaibi.Dr. Al-Otaibi, in a statement to Kuwait News Agency (KUNA), said mucosis fungoides is a lymphatic disease, one of the common disease, widely known in the world. Describing development of the disease, he said that lymphatic cells relocate to the skin layer where they transform into cancerous tissues, then they move again inward turning into lymphatic cancer, before spreading to various organs of the body in the form of cancerous tumors. Any organ of the human body may be contaminated with fungoides mycosis, however in most cases, it affects lower
part of the back, the chest and exposed parts and limbs such as hands and feet, said Dr. Al-Otaibi, a skin specialist at AlSabah Hospital. This disease affects mostly men in the age category of 5-50-60, he said, noting that most of the cases exist in the age above 60. Sixteen percent of the cases fall in the 20-year category. The disease starts appearing in the form of small dark spots that grow slowly, coupled with severe itching. In some cases, it spreads rapidly in the form of cancerous tumors, affecting various parts of the body. As to therapy, Dr. Al-Otaibi indicated that each patient receives different treatment considering extent of spread of the disease and its seriousness. If it is restricted to the skin, doctors apply chemicals creams, including mustard.
Common treatments include simple sunlight, ultraviolet light, topical steroids, topical and systemic chemotherapies, local superficial radiotherapy, the histone deacetylase inhibitor vorinostat, total skin electron beam radiation, photopheresis and systemic therapies (e.g. interferons, retinoids, rexinoids) or biological therapies. Treatments are often used in combination. Selection of treatments typically depends on patient preference and access to therapies, as well as recommendations by physicians, the stage of the disease, established resistance to prior therapies, allergies of the patient, clinical evidence of a positive benefit. Origins and causes of mycosis fungoides are unknown, but it is not believed to be hereditary or genetic in the vast majority of cases. It is not contagious. -KUNA
tuesdAY, april 17, 2012
Amir sponsors Kuwait University graduation ceremony
Photo of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah (right) presenting the graduation certificates to a student on Monday, April 16, 2012. (KUNA)
KUWAIT: Under the auspices of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah and with his attendance, the annual graduation ceremony of Kuwait University (KU) for the academic year 20102011 was held Monday morning, at Sheikh Abdullah Al-Jaber Al-Sabah Theater at Shuwaikh Campus. His Highness the Amir was greeted upon arrival to the venue by Minister of Education and of Higher Education Dr. Nayef Falah Al-Hajraf, KU Rector Dr. Abdellatif Ahmad Al-Bader, and KU faculty members. The ceremony was attended by His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Sabah, National Assembly Speaker Ahmad Al-Saadoun, former speaker Jassem AlKharafi, senior Sheikhs, Deputy Chief of National Guard Sheikh Mishaal Al-Ahmad Al-Jaber Al-Sabah, His Highness Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah, His Highness the Prime Minister Sheikh Jaber Al-Mubarak AlHamad Al-Sabah, top state officials, and graduates’ families. After the customary kickoff with a recitation of the Holy Quran, Minister Al-Hajraf addressed the gathering and noted the centennial of regular education in the State of Kuwait. He recalled the establishment of the university over 50 decades ago, and stressed it is an institution of international caliber where there is constant effort to introduce the latest specialties and to look ahead and prepare for the nation’s future. The most pressing threat such institution could face is for it to abandon its social role and its contributions to develop at a time of increasing challenge. Today’s educational institutions must inspire tolerance, acceptance of diversity, and dialogue as means to realize their objectives and the expectations of the community, the minister said. Al-Hajraf remarked that while the institution continues to do its part, the high-achieving students, too, pledge to serve their homeland and to put its higher interests topmost of their priorities to sustain the level of prosperity and advancement our nation has achieved through care for proper education since its earliest days. The minister expressed appreciation for His Highness
the Amir for his non-faltering care for students and educators and the institutions that serve them. He said the university strives to uphold its responsibility amid challenges that include great increase in number of students and constant need to fine-tune curricula and specialties offered. Addressing the students, he urged care on their part as well to do their best to repay the homeland as they start the next stage of their life. Addressing the gathering next was KU Rector Dr. Abdellatif Ahmad Al-Bader. He said educational institutions are in reality in charge of a nation’s most important and vital investment, which is investment in human resources and development. The more we put into this area as we educate our new generations, the more Kuwait has to gain in future prosperity and advancement. “Today’s graduates are the university’s gift to the country,” he said. The rector pointed out that KU also focuses on Higher Study Programs, currently offering 58 programs. There is also the intention to launch MA programs in faculties still not offering post-graduate studies. High-achieving students from other universities are also allowed to transfer, and KU thus helps prepare promising candidates to serve among its staff later on. In terms of scientific research, another area of focus, KU published an overall 579 projects and welcomes world specialists to conduct their research in cooperation with its faculties and its research department. As for social contributions, Al-Bader said KU offers a diverse calendar of training programs for all members of the public to help care for talent and help improve capabilities of workers in all fields of employment. Among the most recent developments is meanwhile the decree on founding a faculty for computer sciences and engineering, and another to found a faculty of architectural design and engineering, and the executive councils are now charged to plan the details of meeting requirements of launch of study. Also among KU’s important developments are the agreements signed with leading institutions in Europe, Asia, and the US. The rector addressed the graduates and urged them to
Photos of graduates during the graduation ceremony on Monday, April 16, 2012. (KUNA)
be best possible representatives and reflection of the values of their homeland, and called on them to embrace the world with all it has to offer while preserving and cherishing their genuine cultural, social, and ethical identity. On behalf of the graduates, Hessa Salah Al-Deihan said the students would always remember His Highness the Amir gracing this ceremony to stress anew his care for education and encouraging new generations to do their best and serve their country. She said the high level of achievement was partly due to devoted care the students received and partly
to their own drive and desire to build a brighter future after receiving education and qualification. The graduate added that the students also have the greatest appreciation for the faculty members, professors, and other staff at KU who all helped them along their scholastic years. Following these speeches, His Highness the Amir presented the graduation certificates to the students, and later received a token of appreciation by KU in commemoration of this ceremony. -KUNA
Sultan Qaboos arrives in Kuwait for talks with Amir Disused tires represent environmental havoc: Municipality Shabib Al-Ajmi Staff Writer
KUWAIT: Kuwait Municipal Council has been discussing the issue of amassing disused tires in Jahra area, which Al Watan newspaper in one of its features warned against the dangerous situation that such junk yard could present. Member of the Kuwait Municipal Council Abdullah Fahad Al-Enzi said that the presence of more than five million disused tires in the area over the past years “represents a scary environmental catastrophe.” He added that the concerned authority has been passive about the issue pointing out that with 80, 000 tires per month are discarded in that area and would surely cause havoc in terms of the environment security. “There is direct threat on the lives of the local residents and if this problem is not solved immediately,” he remarked. His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah (right) with Omani Sultan Qaboos bin Said on Monday, April 16, 2012. (KUNA)
KUWAIT: Omani Sultan Qaboos bin Said, accompanied by a delegation of senior officials, arrived in Kuwait on Tuesday starting a four-day visit during which he would hold talks with Hs Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah. Sultan Qaboos and the accompanying officials were received upon their arrival at Kuwait International Airport by the Amir, His Highness the Crown prince Sheikh Nawaf Al-Ahmad Al-Sabah, Speaker of the National Assembly Ahmad Al-Saadoun, Deputy Chief of the National Guard Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah, His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, senior State officials, chiefs of the Army, the Police and the
National Guard. The accompanying honorary mission was formed by the Amiri Diwan under chairmanship of Sheikh Mohammad Al-Khaled Al-Hamad Al-Sabah, the Chief of the National Security Apparatus. Sultan Qaboos is accompanied by Minister of the Royal Court Khaled Al-Busaidi, Minister of the Royal Court Lieutenant General Sultan Bin Mohammed AlNu’mani, Minister in Charge of Defence Affairs Bader Bin Saud Hareb Al-Busaidi, Minister in Charge of Foreign Affairs Yousef Bin Alawi Bin Abdullah, Minister in Charge of Financial Affairs Ismail Al-Bloushi and Sultan’s Advisor for Economic Planning Mohammed Bin Al-Zubair. -KUNA
Kuwaiti diplomat, Vietnamese official discuss boosting ties KUALA LUMPUR: Kuwait’s Consul General in Vietnam’s Ho Chi Minh City Omar Suleiman Al-Qenai held talks on Monday with Director General of the Ministry of Foreign Affairs in the Vietnamese city of Ho Chi Minh Tran Dung on means of enhancing cooperation between the city and Kuwait. In remarks to Kuwait News Agency (KUNA), AlGenai said he expressed to the Vietnamese official his pleasure for serving as a diplomat representing the State of Kuwait in Ho Chi Minh, pledging to spare no effort for cementing the bilateral Kuwaiti-Vietnamese relations in all domains, particularly in the economic
and commercial sectors. He added that the meeting with the ranking Vietnamese official was part of a programmed plan aimed at boosting communications with senior officials in the city. The State of Kuwait is looking forward for bolstering the economic and commercial ties with Ho Chi Minh for service of joint interests of the two sides, he said. For his part, Tran vowed during the meeting, to facilitate tasks of the Kuwaiti consul and help him in the efforts to strengthen the friendly relations and mutual cooperation between the State of Kuwait and the Republic of Vietnam. -KUNA
On her part, member of the Kuwait Municipal Council Jinan BuShahri said that a disaster is at hand and that it would far worse than the time oil wells were set ablaze by the Iraqi troops during the invasion. Similarly, Council member Mohammad Al-Mifrej said that “you would think that the concerned authority would transport such piles of disused tires to a remote place far away from the residential areas preferably by the borders,” he explained. As for Council member Mane AlAjmi, he described the problem as a time bomb and therefore should be treated in the shortest time as possible. He went on to say that if such amount of disused tires is recycled it would be “an industrial fortune”. Finally, Council member Abdullah Al-Kandari demanded that the tires be divided into batches to minimize the risk. The Council then discussed the rulings regarding Al-Qurain Market. Al-Ajmi
Kuwait Science Club organizes lectures on calculating lunar months KUWAIT: Kuwait Science Club (KSC) Astronomy Department organized a lecture on Monday titled “Calculating lunar months and crescent sighting”, given by member of the scientific miracles of the Holy Quran in the Supreme Council for Islamic Affairs in the Egyptian Ministry of Awqaf Dr. Mohammed Ahmad Sulaiman KSC said in press remarks that Dr. Sulaiman, specialized in solar physics at The University of Moscow, member of International Astronomical Union IAU lectured on the holy Hadiths-sayings of Prophet Mohammad on the crescent sighting like the one instructing us to use calculations in the case of inability of sighting the crescent due to weather conditions. He touched on the criteria needed in the so called witness of justice, including being sound in body, mind, and known for piety and devotion, and aware of the location and time of the crescent, and Dr. Sulaiman also tackled the four cases of crescent sighting. Egyptian Fatwa House considers both the methods of crescent sighting and astronomical calculations, in lunar calculations, Dr. Sulaiman said. This lecture is part of a series of lectures organized by KSC Astronomy Department for Dr. Sulaiman. The next lecture will be held on Wednesday at the in KSC, titled ‘Astronomical miracles in Surat Al-Baqarah of the Holy Qur’an’. -KUNA
said that it is sad that the owners of the shops in this area as they have incurred tremendous losses “with little regard on the part of the executive body for the consequence of their decision.” Al-Ajmi said that the owners have taken their case to the office of the Public Prosecutor, only after they felt that they were ignored and mistreated. Al-Ajmi demanded that the former minister of Kuwait municipality should be taken to court as “he was the person responsible for such great losses.” The council then discussed the issue of pitfall. BuShahri said the decision was carried out without informing or the knowledge of the Municipal Council describing the way it was handled as “primitive”. She said that she believes strongly in introducing waste recycle instead of the conventional ways of throwing things in pitfalls.
Development plan is based on Human Resources: Minister Al-Hajraf
KUWAIT: Objectives of the State of Kuwait’s development plan are primarily based on human resources (HR) development, Minister of Education Nayef Al-Hajraf said Sunday. Al-Hajraf, also Minister of Higher Education, said Kuwait needed to host conferences related to human resources development. He was speaking to Kuwait News Agency (KUNA) after the inauguration of the annual conference of the International Federation of Training and Development Organizations (IFTDO). Asked about human resources development in the ministry of education, Al-Hajraf said the ministry was sparing no effort to developing skills of its employees specially teachers “who are the back bone of the educational system and in any educational process.” IFTDO Board President Dr. Jamal Al-Duaij said the IFTDO, which was established in 1973, was liaising between international organizations and institutions active in training and development. He said 130 training and development organizations were members in IFTDO, and have more than 500,000 experts around the world. Al-Duaij said IFTDO was a “distinguished resource” in training and development. Secretary General of the Arabian Gulf Career Development Forum (CADEF), organizers of the conference, Dr. Fahad Al-Fadhala said the conference would discuss 50 work papers over development and training. -KUNA
The constitution and president
By Hossam Fathi Staff Writer
KUWAIT: Although the request of the Military Council for endorsing the constitution before the presidential election is a reasonable one, many people doubt such a request and question whether the constitution would be endorsed before the parliamentary elections or not!! Let’s be optimistic about the request but we can’t ignore the fact that the military council imposes pressure on the parliament to from the supreme committee for putting forth the constitution, therefore the committee is expected to prepare the constitution and people have to vote before June 21st, 2012 but such a matter would require a miracle, or at least great efforts to be accomplished! The council affirmed that elections will be conducted on time and power will be transferred to the civil authority on time as well. On the other hand, we hope the old institution of Al-Ahram will submit further explanations about the survey it conducted recently on the coming presidential election, wherein the Major General Omar Sulaiman ranked highest as he obtained 31.7 percent of votes; Amro Musa ranked second by 22.8 percent of votes and Hazem Abu Ismael third by 21.4 percent of votes. We hope to garner more details about the basis of the survey, especially as it was allegedly conducted by a government institution and at the government’s expense. firstname.lastname@example.org Twitter:@hossamfathy66
UAE urges swift solution in islands row with Iran
ABU DHABI: The United Arab Emirates, angered by the Iranian president’s visit to a Gulf island both countries claim, warned on Monday that the dispute could not “go on forever” and urged Tehran to agree to talks or international arbitration. Tensions rose last week following Iranian President Mahmoud Ahmadinejad’s visit to Abu Musa, one of three Gulf islands also claimed by the UAE and located near important oil shipping channels at the mouth of the strategic Strait of Hormuz. “We cannot have this matter going on forever,” UAE Foreign Minister Sheikh Abdullah bin Zayed Al-Nahayan told a news conference in Abu Dhabi. “We have to have a clear agenda, a deadline for negotiations and if there is no outcome ... then we can either go to the International Court of Justice or to international arbitration.” The UAE has recalled its ambassador from Tehran for consultations, and also cancelled a friendly soccer match with Iran’s national team set for Tuesday, in response to what its officials called a “flagrant violation” of its sovereignty. The visit also drew criticism from regional heavyweight Saudi Arabia, whose cabinet said on Monday Ahmadinejad’s trip had violated UAE sovereignty and was a “transgression of efforts towards a peaceful solution of the issue of the UAE islands”, the Saudi Press Agency reported. Ahmadinejad visited Abu Musa, some 60 km (40 miles) off the UAE, on Wednesday during a tour of Iran’s Gulf coast. The Islamic Republic says its sovereignty over the three islands is not negotiable but has called for talks with the UAE to clear up “misunderstandings”. Iran urged the Gulf states not to “complicate” matters, on the eve of a meeting in Qatar on Tuesday of the six-member Gulf Cooperation Council (GCC) to discuss the issue. -Reuters
Sudanese warplanes bomb UN camp in South Sudan
KHARTOUM/JUBA: Sudanese warplanes bombed a UN peacekeepers’ base, damaging it but causing no casualties in the first such attack since a recent escalation of fighting with South Sudan, officials said Monday. Bombing raids on Sunday also killed nine civilians elsewhere in South Sudan’s Unity border state, said the area’s information minister, Gideon Gatpan. “They launched another bombardment here yesterday,” Gatpan said, adding that bombs were dropped near the oilproducing state’s capital Bentiu, as well as in the village of Mayom, some 60 kilometers (40 miles) to the west. “In Mayom... it killed seven civilians and wounded 14, two bombs fell inside the UN camp in Mayom and destroyed a generator and a radio,” Gatpan said. “Two fighter jets released eight bombs east of Bentiu,” he added. “Others fell in villages around Bentiu, where two people were killed, including a pregnant woman, and eight people were wounded.” UN peacekeeping mission spokesman Kouider Zerrouk confirmed the attack on the small base, but said “there were no casualties, no one was wounded”. Clashes have spread along the border of Sudan and South Sudan, officials said Monday, with Sudanese officials claiming to have seized an area sympathetic to South Sudan. A South Sudanese military official said the clashes are a “terrible escalation” of the border conflict that stretches back before South Sudan broke away from Sudan last year.Fighting along the north-south border has been near constant over the past two weeks. Southern army spokesman Col. Philip Aguer said Monday that Sudan’s air force killed five civilians in aerial attacks over the disputed town of Heglig. The Sudan Media Center also reported Monday that Sudan’s army took control of Mugum, a stronghold of the southern army in Blue Nile state, which is near South Sudan’s border.Fighting broke out between the rival armies of Khartoum and Juba last month, but escalated last week as Southern troops seized the contested Heglig oil field and Sudan launched counter-attacks and waves of air strikes across the border.The hostilities are the worst since South Sudan’s independence from Sudan in July, and world powers have condemned the fighting, as fears grow of a wider escalation of the conflict. The most intense fighting has been centered on Heglig, which contributed about half of Sudan’s total oil production. South Sudan has said it will not withdraw unless Khartoum pulls out of the neighboring contested Abyei region, which Sudanese troops seized last May, forcing some 110,00 people to flee southward. -AFP
tuesDAY, april 17, 2012
Fierce clashes as observers begin work in Syria DAMASCUS: Syrian forces were locked in fierce gunfights with rebels in one city and shelled another on Monday, just hours after the first UN peacekeepers arrived to oversee a truce aimed at ending a year of bloodshed. President Bashar Al-Assad’s forces killed two civilians in the central city of Hama and were fighting rebels at Idlib in the northwest, while also shelling the flashpoint city of Homs, said the Syrian Observatory for Human Rights. Since a UN-backed ceasefire came into force at dawn on Thursday, at least 41 people, mostly civilians, have been killed in violence that prompted UN chief Ban Ki-moon to urge Syria to ensure the truce does not collapse. An advance team of six international observers arrived in Damascus late on Sunday, the United Nations said. The delegation - the first of 30 monitors the UN Security Council approved on Saturday - will set up a headquarters and prepare routines so the mission can verify a cessation of hostilities is holding. “They’ve arrived and they will start work (on Monday) morning,” UN peacekeeping department spokesman Kieran Dwyer said. “The other monitors in the advance party are still expected in Syria in coming days.” The next 25 would come from missions around the Middle East and Africa “so we can move people quickly and they are experienced in the region,” he told AFP. Their mission is just one part of the six-point peace plan that Assad agreed with UN-Arab League envoy Kofi Annan. The former UN secretary general wants more than 200 observers to be deployed in Syria, but the Security Council has said there would only be a full mission if the violence halts. The government news agency SANA said Syria “welcomes” the observer mission, and hoped the monitors would see for themselves the “crimes” committed by “armed terrorist groups.” They face a perilous task, with Western nations doubting the Al-Assad regime’s commitment to the ceasefire amid reports his forces have kept battering rebel strongholds and clashed with opposition fighters. A spike in deadly violence forced the Arab League to end its own Syrian monitoring mission in late January, barely a month after sending them. On Monday, security forces shot dead the two civilians when they opened fire on a car in Hama, said the Observatory. Elsewhere, fierce fighting broke out at dawn between forces loyal to Al-Assad and rebels in the city of Idlib, the Britain-based monitoring group said.
A team of UN monitors walk through a hotel in Damascus on April 16, 2012. (Reuters)
Regime forces resumed shelling rebel neighborhoods of Khaldiyeh and Bayyada in the central city of Homs, a day after at least five civilians were killed there. The authorities on Sunday charged that rebels had “intensified” attacks on security forces and civilians, warning of a response, as state media published a list of alleged acts of violence. Security forces “will prevent the terrorist groups from continuing their criminal attacks,” said a military official quoted
Gunmen kill four Shiite farmers in Baghdad attack Baghdad: Gunmen killed four Shiite farmers in the northern outskirts of Baghdad on Monday, police and hospital sources said, in the latest attack to highlight underlying sectarian and ethnic tensions in Iraq. Violence in Iraq has declined since the height of sectarian conflict in 2006-07, but bombings and shootings still take place on a daily basis. Most attacks are blamed on Sunni Arab insurgents who have refused to lay down arms after the withdrawal of US forces in December. Tensions within Iraq’s fragile coalition government of Shiites, Sunnis and Kurds have been mounting since December, raising concerns of a return to sectarian warfare that nearly drove the country to the edge of civil war a few years ago. Police sources said the Shiite farmers, who tended date palms at a ranch in Rashidiya, just north of Baghdad, were killed when gunmen opened fire on them. Three other farmers
were wounded in the attack.In a separate incident on Monday, a suspected militant was killed in the town of Saadiya, northeast of Baghdad, when he set off explosives in his house as army forces surrounded his plot in an attempt to arrest him, the town’s mayor said.The mayor said the suspected militant’s wife and three children were also killed in the blasts. In the town of Jalawla, 115 km (70 miles) northeast of Baghdad, a militant was killed when he tried to plant a bomb near a house belonging to a Shiite family, while another explosion by a bus terminal killed one person and wounded three, police said. Fighters have frequently targeted Shiite areas and Iraq’s security forces since the US withdrawal. Seven Shiite pilgrims were killed on Friday by armed men while bombings targeting Shiite families killed five people on Wednesday. -Reuters
Egypt’s barred presidency front-runners appeal CAIRO: Three of Egypt’s main contenders for the presidency filed appeals prior to a Monday deadline against a decision by the country’s elections commission barring them from running, a move that rocked an already tumultuous race. Ultraconservative Islamist candidate Hazem Abu Ismail, the more mainstream Islamist Khairat al-Shater of the Muslim Brotherhood, and former intelligence chief Omar Suleiman were knocked out of the race along with seven others on Saturday on legal grounds.Representatives of all three candidates filed appeals before the deadline. The election commission is expected to decide Tuesday which appeals will be reviewed, and a final list of candidates will be released April 26, just under a month before the vote. The decision to disqualify the candidates - along with the possibility that it might again be reversed on appeal - has injected massive uncertainty into Egypt’s first-ever freely contested presidential elections. It means that the race is being heavily shaped by administrative decisions from the country’s elections commission comprised of judges appointed by ousted President Hosni Muba-
rak, which has left many questioning the body’s independence and the fairness of the election process. The commission has not given any reason for its decisions, and its disqualification of two of the top Islamist candidates has brought accusations that it might be manipulated by the country’s ruling military council, which has vowed to hand over powers after a president is elected. Abu Ismail, a lawyer-turned-preacher with a devoted following, was reportedly barred from running because his late mother allegedly held dual American-Egyptian citizenship. Under a new Egyptian electoral law, the candidate, the candidate’s spouse or the candidate’s parents cannot hold any citizenship other than Egyptian. Abu Ismail has questioned why the election commission had not made public the documents that allegedly prove his mother held US citizenship. El-Shater’s candidacy had been challenged because of his previous criminal record. He was imprisoned like many Brotherhood activists under the Mubarak regime, but was granted an amnesty this year. His lawyers say that this means he is allowed to run. -AP
Waving the national flag, thousands of Egypt’s Muslim Brotherhood and Salafist movement supporters take part in a demonstration in the capital’s landmark Tahrir Square in Cairo on April 13, 2012 under the slogan “protect the revolution,” demanding that former regime members be barred from public office. (AFP)
by state media, accusing the rebels of a deliberate escalation to wreck the truce.Ban voiced concern over the shelling of Homs. “I am very much concerned about what has happened since yesterday and today,” he said. “It is important, absolutely important, that the Syrian government should take all the measures to keep this cessation of violence.” SANA reported, meanwhile, that Foreign Minister Walid Mouallem would visit China at the invitation of his counterpart Yang Jiechi, to discuss Annan’s mission. -AFP
Iran says ready to resolve nuclear issues
DUBAI: Iran is ready to resolve all nuclear issues in the next round of talks with world powers if the West starts lifting sanctions, its foreign minister said on Monday. In an interview with the Iranian student news agency ISNA, Ali Akbar Salehi also hinted that Iran could make concessions on its higher-grade uranium enrichment, a key concern of Western powers. “If the West wants to take confidence-building measures it should start in the field of sanctions because this action can speed up the process of negotiations reaching results,” Salehi was quoted as saying. “If there is goodwill, one can pass through this process very easily and we are ready to resolve all issues very quickly and simply and even in the Baghdad meeting,” he added, referring to a second round of talks with world powers scheduled to take place in the Iraqi capital on May 23. Salehi described an initial meeting with the five permanent members of the U.N. Security Council and Germany in Istanbul on Saturday as positive and constructive. The talks had been stalled for more than a year during which time the United States and the European Union tightened sanctions on Iran which they suspect is seeking nuclear weapons capability, a charge Tehran denies. Salehi said Iran would always assert its right to process uranium for peaceful purposes but that there might be room for a compromise on higher-level enrichment. “Enrichment is Iran’s right but we can negotiate on how we obtain uranium with different enrichment levels,” he said. “Making 20 percent (enriched nuclear) fuel is our right as long as it provides for our reactor needs and there is no question about that,” he said, but added: “If they guarantee that they will provide us with the different levels of enriched fuel that we need, then that would be another issue.” Iran says it needs uranium enriched to a purity of 20 percent to fuel a medical research reactor, but many countries see its enrichment to that level a dangerous step towards the 90 percent enrichment needed for an atomic bomb. A deal tentatively agreed with the West in 2009 would have seen Iran exporting some of its lower enriched uranium in return for fuel for the medical reactor. The deal unraveled and diplomats on both sides have said it would need to be modified in any future agreement. -Reuters
Israel suspends officer who hit protester with gun
JERUSALEM: The Israeli army said Monday it has suspended an officer who hit a foreign activist in the face with his gun, in an attack that was condemned by Prime Minister Benjamin Netanyahu. “Lieutenant Colonel Shalom Eisner has been suspended until the conclusion of the inquiry which has been opened,” a military spokesman said. The assault took place on Saturday during a bicycle ride in the Jordan Valley near Jericho which involved Palestinians and foreign activists. According to footage a protester posted on YouTube, Eisner is seen suddenly smashing his M-16 rifle into the face of a blond demonstrator in an apparently unprovoked attack. The images were picked up by an Israeli TV station late on Sunday, sparking condemnation from Netanyahu, and dominating the headlines in Monday’s papers. “Such behavior is not characteristic of the soldiers and commanders of the IDF (Israel Defense Forces),” Netanyahu said in a statement released late on Sunday. “It has no place in the IDF and the State of Israel.” Chief-of-Staff Benny Gantz also condemned the attack which he said would be “thoroughly investigated and treated with the utmost severity.” The military described the incident as “very serious” and said it was looking into “the circumstances leading up to this incident as well as on its repercussions,” a spokeswoman told AFP. The activist is reportedly a Danish national who arrived in Israel two months ago to join a Palestinian solidarity movement. Quoting a military source, Israel’s Channel 10 television said the officer apparently lost his patience as he and his troops tried to turn away cyclists shouting anti-Israeli slogans and waving Palestinian flags from an area defined as a closed military zone. -AFP
tuesdAY, april 17, 2012
Norway killer admits massacre, claims self-defense OSLO: With a defiant closed-fist salute, a right-wing fanatic admitted Monday to a bomband-shooting massacre that killed 77 people in Norway but pleaded not guilty to criminal charges, saying he was acting in self-defense. On the first day of his long-awaited trial, Anders Behring Breivik rejected the authority of the court as it sought to assign responsibility for the July 22 attacks that shocked Norway and jolted the image of terrorism in Europe. Dressed in a dark suit and sporting a thin beard, Breivik smiled as a guard removed his handcuffs in the crowded court room. The 33year-old then flashed his salute before shaking hands with prosecutors and court officials. “I don’t recognize Norwegian courts because you get your mandate from the Norwegian political parties who support multiculturalism,” Breivik said in his first comments to the court. Eight people were killed in Breivik’s July 22 bombing of Oslo’s government district and 69 others were slain in his shooting massacre at the left-leaning Labor Party’s youth camp on Utoya island outside the capital. Breivik has said the attacks were necessary to protect Norway from being taken over by Muslims. “I admit to the acts, but not criminal guilt,” he told the court, insisting he had acted in selfdefense. The key issue to be resolved during the 10week trial is the state of Breivik’s mental health, which will decide whether he is sent to prison
Accused Norwegian Anders Behring Breivik. (Reuters)
or into psychiatric care. Anxious to prove he is not insane, Brevik will call right-wing extremists and radical Islamists to testify during the trial, to show that others also share his view of clashing civilizations. Norway’s NRK television was broadcasting
parts of the trial live but was not allowed to show Breivik’s testimony. During Monday’s opening session, he remained stone-faced and motionless as prosecutors read the indictment on the terror and murder charges, with descriptions of how each
Croatia’s ex-PM, HDZ party go on trial for graft ZAGREB: Croatia’s former prime minister Ivo Sanader went on trial on Monday on charges that he and senior officials abused state funds and rigged public tenders in a case that could bankrupt the biggest party, the HDZ. “The whole indictment is fabricated and we shall prove it,” Sanader told the court. The trial is the first against a political party since independence in 1991 and part of an anticorruption drive to boost Croatia’s attempt to join the European Union in July 2013. Sanader was expelled from the HDZ six months after he quit the government in July 2009. Also on trial are the HDZ’s former treasurer, accountant and spokesman, and the party itself. If convicted, the HDZ could be ordered to pay back about 33 million kuna ($5.78 million), which could effectively send it into bankruptcy, the Jutarnji List daily reported on its website. The centre-right HDZ, which lost power in December after eight years, has denied the charges. Several lower-ranking former party officials have plea-bargained and received short jail terms. The indictment says Sanader and six other people conspired to secure illegal funding for the HDZ from public firms from 2003 to 2009, when Sanader quit without explanation. During that time, the HDZ is accused of having illegally acquired 31.6 million kuna
Croatia’s former Prime Minister Ivo Sanader gives a statement to the media after leaving a prison in Zagreb. (Reuters)
(5.54 million US dollars) and Sanader of personally receiving 15 million kuna, the indictment said.
Three other suspects and their two companies acquired altogether another 18 million kuna. Before the trial, Sanader said the party
victim died, and when they explained how he prepared for the attacks. But Breivik suddenly became emotional when prosecutors showed an anti-Muslim video that he had posted on YouTube before the killing spree, wiping away tears on his cheek with trembling hands. After a lunch break, Breivik was again expressionless as he watched prosecutors present surveillance footage of the Oslo explosion. The blast ripped through the high-rise building that housed government headquarters, blowing out windows and filling surrounding streets with smoke and debris. He didn’t flinch as prosecutors played a three-minute recording of a young woman’s frantic phone call to police from Utoya. “Shots have been fired,” the woman, who survived the massacre, said with panic in her voice. “I’m pretty sure that there are many injured.” More than a dozen shots in close succession could be heard as the woman fell silent. “Are you still there?” the police officer asked. “Yes,” she whispered. She fell silent again, breathing into the phone as more shots cracked in the background. Breivik also announced he doesn’t recognize the authority of Judge Wenche Elisabeth Arntzen, because he said she is friends with the sister of former Norwegian Prime Minister and Labor Party leader Gro Harlem Brundtland. -Reuters
leadership had known of, and approved, all the decisions, while the party accused him of creating a secret, parallel structure that engineered the financial schemes without telling them. The HDZ has ruled Croatia for 16 of the 20 years of its independence. It is the first party indicted for corruption, which is perceived as widespread at the top levels of politics and at state-run companies. “For Croatia’s political scene, this will have a positive effect because it is unlikely that anyone will ever again dare to divert public companies’ money into party coffers,” said political analyst Davor Gjenero. “It is not clear at the moment what possible bankruptcy would effectively mean ... whether the party would be dissolved,” he said. “I think a more likely outcome is some kind of settlement which would leave the HDZ alive.” Jadranka Kosor, Sanader’s hand-picked successor who was prime minister for 30 months until the election in December, launched the anti-graft campaign in 2009 to help Zagreb’s EU bid. Croatia signed the accession treaty last December but its anti-corruption efforts will remain under scrutiny from Brussels. Sanader is also on trial on two separate graft charges involving a loan from Austria’s Hypo Bank and alleged secret deals with Hungarian oil concern MOL related to managing Croatia’s oil group INA. -Reuters
North Korea rocket threatens security, says US diplomat SEOUL: The top US diplomat for East Asia called a failed North Korean rocket launch a security threat Monday. He declined to talk about possible punishing sanctions but said the world would unite to stop more provocations. Three days after the long-range rocket broke into pieces over the Yellow Sea shortly after liftoff, generating international condemnation and costing North Korea a food aid-for-nuclear freeze deal with Washington, Assistant Secretary of State Kurt Campbell was carefully diplomatic in comments to reporters at Seoul’s Foreign Ministry. Tough sanctions haven’t stopped North Korea in recent years from conducting two nuclear tests and four long-range rocket launches that Washington calls covers for tests of missile technology designed to reach the United States. But Campbell, speaking after meetings with senior South Korean officials, said the United States and its allies are determined “to meet provocations with a very clear and firm coordination. I believe that that is the best possible response to what we have seen from North Korea.” Asked if that response included strong new U.N. sanctions, Campbell said consultations are under way at the United Nations and he wanted “to let that process play out.” The UN Security Council has so far denounced the launch as a violation of resolutions that prohibit North Korea from developing its nuclear and missile programs. The council imposed sanctions on North Korea after its first nuclear test in 2006 and stepped up sanctions after its second in 2009. “Even though the launch was a failure, it was a provocative action that threatens international security” as well as violating UN resolutions and other North Korean obligations, Campbell said. “The international community is united in its strong determination to discourage any further provocation.” North Korea said the rocket was meant to launch a peaceful observational satellite into orbit as part of celebrations marking the 100th anniversary of the birth of the country’s founder, the late Kim Il Sung. A day before Campbell’s visit to Seoul, North Korea’s new leader, Kim Jong Un, addressed his nation and the world for the first time, giving a speech during the centennial festivities in which he vowed to place top priority on his impoverished country’s military. Pyongyang also unveiled a new long-range missile, although it’s still not
clear how powerful or significant the addition to the North Korean arsenal is. Some analysts suggested it might have been a dummy designed to dupe outside observers. Campbell wouldn’t talk about worries that North Korea may now feel itself under pressure to make up for the rocket failure with a nuclear test - a pattern that happened in 2006 and 2009. South Korean intelligence officials have said that recent satellite images show North Korea is digging a new tunnel in what appears to be preparation for a third nuclear test at the site of its two past tests. -AP
US Assistant Secretary of State for East Asia and Pacific Affairs Kurt Campbell (right) shakes hands with South Korean Foreign Minister Kim Sung-hwan during their meeting at the Foreign Ministry in Seoul on April 16. (AP)
US, Philippines start drills amid territorial spat with China MANILA: American and Filipino troops launched two weeks of annual naval drills on Monday amid a territorial stand-off between China and the Philippines as the United States seeks to reinforce its influence across the Asia-Pacific. The most recent dispute between China and the Philippines entered its second week, with a Philippine coast guard ship and two Chinese maritime surveillance vessels faced off near the Scarborough shoal, west of a former US navy base at Subic Bay, once the biggest outside the United States. Chinese fishermen refused Manila’s request to hand over their haul, highlighting Manila’s power-
lessness to confront its giant neighbor and its need to keep its main ally, the United States, sweet. China has territorial disputes with several countries in the South China Sea, which is believed to be rich in oil and gas and is crossed by important shipping lanes. China has sought to resolve the disputes oneon-one but there is concern among its neighbors over what some see as its growing assertiveness in staking its claims over the sea and various islands, reefs and shoals. Philippine officials hope the war games, in which nearly 7,000 American and Filipino troops will simulate assaults for the first time in an area
near the South China Sea, will become more frequent. “We need the US to bring stability and security,” said an army major-general who declined to be named because he was not authorized to speak to the press. Before the Philippines voted to remove US bases in 1992, Chinese fishing boats kept clear of waters near the Scarborough shoal, the general said. “After the Americans went, China erected structures in Mischief Reef and Chinese fishermen became more bold and active in Scarborough,” he said. “I don’t want to wake up one day seeing new Chinese structures there.” -Reuters
NEWS IN BRIEF Taiwan launches drill simulating Chinese invasion TAIPEI: Taiwan kicked off its biggest annual war game Monday, testing its ability to defend of the capital Taipei against a Chinese attack and ward off a blockade of its main naval base. Thousands of reservists reported for the five-day drill, which is codenamed “Han Kuang (Han Glory) No 28”. In the south, the navy mobilized a fleet of mine-sweeping vessels and helicopters for a scenario in which Tsoying, the island’s major naval base, is the target of a Chinese blockade. -AFP
Swiss woman abducted in Mali’s Timbuktu BAMAKO: Switzerland on Monday said a female national has been kidnapped in Mali’s Timbuktu, the fabled city seized by Islamists following after a coup in the west African nation. A statement by the federal department of foreign affairs (FDFA) in Bern said that authorities were in contact with the woman’s family and “were making every effort to ensure the kidnap victim is released unharmed,” but did not identify her. Local reports said she was a Christian woman in her 40s named Beatrice who had lived in the ancient city for years and was active in the local community. -AFP
PM to discuss NCTC with chief ministers May 5 NEW DELHI: Prime Minister Manmohan Singh Monday assured the chief ministers that he would hold a separate meeting with them May 5 to discuss the controversial proposal to set up a National Counter Terrorism Centre. “We will discuss the National Counter Terrorism Centre on May 5 in a separate meeting as some chief ministers suggested,” the prime minister told the annual meeting of chief ministers on internal security here. The proposal to set up the anti-terror agency is being opposed by United Progressive Alliance partner Trinamool Congress, headed by West Bengal Chief Minister Mamata Banerjee, as well as several opposition ruled states, including Tamil Nadu’s J. Jayalalithaa, Gujarat’s Narendra Modi and Odisha’s Naveen Patnaik. -AFP
Bombs kill FSB agent’s wife, militant in Russia’s Caucasus MOSCOW: Bomb blasts killed the wife of a local Federal Security Service (FSB) officer and a suspected Islamist militant on Monday in the capital of Russia’s turbulent North Caucasus province of Dagestan, Russian news agencies reported.An Islamist insurgency, business and political disputes and clan feuds result in daily violence in the mostly Muslim region on the Caspian Sea in southern Russia. The suspected militant was killed when a bomb he was making exploded during the night in an apartment in provincial capital, Makhachkala, state-run Itar-Tass reported, citing local police. -Reuters
Briton killed after threat to expose Chinese leader’s wife
CHONGQING, China: The British businessman whose murder has sparked political upheaval in China was poisoned after he threatened to expose a plan by a Chinese leader’s wife to move money abroad, two sources with knowledge of the police investigation said. It was the first time a specific motive has been revealed for Neil Heywood’s murder last November, a death which ended Chinese leader Bo Xilai’s hopes of emerging as a top central leader and threw off balance the Communist Party’s looming leadership succession. Bo’s wife, Gu Kailai, asked Heywood late last year to move a large sum of money abroad, and she became outraged when he demanded a larger cut of the money than she had expected due to the size of the transaction, the sources said. She accused him of being greedy and hatched a plan to kill him after he said he could expose her dealings, one of the sources said, summarizing the police case. Both sources have spoken to investigators in Chongqing, the southwestern Chinese city where Heywood was killed and where Bo had cast himself as a crime-fighting Communist Party leader. Gu is in police custody on suspicion of committing or arranging Heywood’s murder, though no details of the motive or the crime itself have been publicly released, other than a general comment from Chinese state media that he was killed after a financial dispute. The sources have close ties to Chinese police and said they were given details of the investigation. They said Heywood - formerly a close friend of Gu and who had been helping her with her overseas financial dealings - was killed after he threatened to expose what she was doing. “Heywood told her that if she thought he was being too greedy, then he didn’t need to become involved and wouldn’t take a penny of the money, but he also said he could also expose it,” the first source said. The sources said police suspect the 41-year-old was poisoned by a drink. They did not know precisely where he died in Chongqing. But they and other sources with access to official information say they believe Heywood was killed at a secluded hilltop retreat, the Nanshan Lijing Holiday Hotel, which is also marketed as the Lucky Holiday Hotel. The sources said Gu and Heywood, who had lived in China since the early 1990s, shared a long and close personal relationship, but were not romantically involved. The sources did not know details of the offshore transactions that Heywood facilitated for Gu, but said exposure of the deals would have imperiled her and her ambitious husband, who was campaigning for promotion to the top ranks of China’s leadership. Bo has since been ousted over the scandal. “After Gu Kailai found that Heywood wouldn’t agree to go along and was even resisting with threats - that he could expose this money with unknown provenance - then that was a major risk to Gu Kailai and Bo Xilai,” said the first source, requesting anonymity due to the sensitivity of the case. It was not possible to get official confirmation of the case police are building against Gu. The Chinese government did not respond to faxed questions about the case. Some of Bo’s leftist supporters have said the case could be a campaign to discredit him. Gu, who is in custody and facing a possible death sentence for murder, and Bo could not be reached for comment. Bo has not been seen since appearing at parliament in March, when he held a news conference decrying the “filth” being poured on his family. -Reuters
TUESDAY, april 17, 2012
Art of contradictions well embedded in Kuwaiti soceity Fuad Al-Hashem
y friend and colleague Sami Al-Nisf wrote some days ago read a wonderful article in the Al-Anba newspaper. I am so impressed with the article that I feel really compelled to re-publish it for the sake and convenience of those who never had the chance to read it. The article which went under the title of “The Origin of Kuwaiti People is Greek” goes like this: “The Kuwaiti people are the only people in the world where you would find: The fiercest opponents of corruption and those who vehemently campaign against all forms of corruption are the most corrupt of all. The most advocating proponents of the Constitution and those who call for its thorough and complete implementation are themselves the most ardent anti-Constitution with their repeated violation of the country’s sovereign and authoritative book. The most patriotic and in many ways nationalistic of all are evidently and unquestionably lack the spirit of patriotism and nationalism alike. The most ardent liberals of all Kuwaitis are passionately self-opinionated and are never willing to accept the opinions of others. The most religious of all is creating havoc and perversion in the very religion he is trying to defend and propagate. People see no distinction whatsoever or even attempt to draw a line between a state official who tries his best and exert all efforts to save a billion Kuwaiti dinars and another state official who spares no time to spend a billion Kuwaiti dinars. In the eyes of the people, both are the same. People weeping over the destruction of their country and yet the minute the country is restored to its former situ-
People would even be extremely envious of what others have even over something as pathetic as a small arid and barren land.
ation, he would be the first to perfect the art of destroying the country all over again. People practice and believe in democracy but the longer they do this, the more they become antagonistic against the very idea of democracy and its practices. MPs and security people are the most likely people to violate the law when common sense says that they are the most likely people to preserve and stick to the law of the country. People buy an item as small and trivial as a chewing gum by their credit cards. People tend to work in the opposite direction of their accommodation. Those who work in the northern parts of the country are keen to live southbound. On the other hand, those who work in the eastern part of the country are on the other side heading west. The only reason I can think of is that they are very keen to create traffic jams and see the vehicles moving bumper to bumper. Obviously, it would be ideal and logical at the same time to live where they work and vice versa. People are keen to have a huge luxurious living room so that when the guests come to visit they get the shock of their lives and yet at the same time they would completely
Please MP Musallam, keep an eye on the minister of oil
resist the tradition of receiving people in the living rooms on which they have spent a profligate amount of money. People would spend a fantastic amount of money on their home costing them a huge fortune and yet would refuse to put their names on the gates because they feel ashamed of doing such a thing. All people on equal foot complain that they are treated unfairly by the state. While facts show that it is those who demonstrate and protest calling for better pays have caused the most injury and harm for the country. People are envied by the rest of the world for the standard of living and the quality of life they are leading and yet they act as if they are the most miserable and unfortunate people on planet earth. People vote out MPs who are commonly known for being wise, professional and productive, and then complain about why the new MPs are failing to meet the targets and accomplish development and growth. People who know for well that this candidate for the parliamentary election has no interest, intention or even the slightest hint to bring about positive changes and push forward progress and growth and yet they wholeheartedly vote for them without the slightest hesitation.
People borrow money at their own free will and decision then immediately grumble and whine that the state is not looking after them and even call for the indictment of the banks they themselves borrowed from. But never, never, never! Not even for a minute would they blame themselves for their own decisions. People would even be extremely envious of what others have even over something as pathetic as a small arid and barren land. At the same time even if they are in possession of the Garden of Eden, they would complain for more. People publically and persistently call for keeping the country’s traditional values and as conservative as possible resisting every attempt to open up the country as others have done. Yet, the first day of their holidays, you would find people flying across the world to various destinations seeking an open and not a conservative society. People are overwhelmed with passion and easily vulnerable to national and patriotic songs with unmistakable tears in the eyes, but just as they are about to finish listening to the songs, they think of ways of dividing the country into parts. People know for well that the country has no rivers or sufficient rain to use as a reservoir since the country is characteristically a desert area, and yet they spare no time wasting the precious water over the silliest excuses. People have farms but no agricultural products; they have industrial lands and yet no industry of any sort, they have stables and yet no horses to be seen, they have farm houses and yet no live stock to use. Above all, they have several colleges, universities and educational institutions but strongly lack the science and literature they should acquire.
BU QUTADA & BU NABIL Madam, I want a salary increase. my embassy says it is my right.
We hope the MP Al-Barrak would ask for the minutes of the special arbitration sessions in order to disclose the circumstances of the case!
(Month later) Ok, I will increase your salary to KD 50.
Please, we do not want to get into trouble with your embassy. I will increase your salary to KD 60.
Madam, I want a salary increase, or else I will file a complaint at my embassy.
Nawaf Sulaiman Al-Fuzai
e usually don`t criticize any officials unless getting certain documents as well as assessing his performance according to the very documents. One of those officials is the Minister of Oil Hani Hussein. We hope the minister will understand well that attacking us or criticizing us will never interrupt our efforts for disclosure of mistakes because we do that just for the sake of God. However, we have already opposed appointing Hussein as a minister for many reasons and we know well that a senior Islamist MP had visited His Highness the Prime Minister to support appointing him as a minister and the MP pledged that Hussein would do well therefore the premier approved that. If that MP did not intervene then we would never see you sitting on the ministerial chair! We hope some MPs would question the minister about the property of senior officials of the oil sectors especially those who have companies dealing with the very sector!! Answering this question will submit clarification about the previous stance of the Popular Action Bloc that rejected appointing Hussein as a minister and the bloc might file an interpellation motion against Hussein in the near future. Before answering the previous question we hope the minister will answer these questions: Did you resign from International Advisors Committee at Dow Company after being appointed as a minister especially that the very company has current disputes with the State of Kuwait? Why is Nader Al-Sultan available with you in each forum wherein the very man is an advisor at Shell Company while a parliamentary committee follows up some cases against Shell at the present time!! The minister has said recently that he wants to appoint youths in the oil sector and we just want to ask the minister whether Khaild Bu Hamra, Ahmad Al-Rayes and Abdullah AlRoumi are youths although we respect all of them! What is the relation between the minister and the senior advisor who is well known in terms of owning companies and who manages leading projects for Kuwait Oil Company (KOC)? We just want to assure the minister that we will answer the last question soon! We are certain that you came to the ministry specifically for two tasks; the first is ending the case between Shell Company and the ministry and the second is compensating Dow Company but you will never succeed to do that as long as we have great MPs like Musallam Al-Barrak! For us the case of overseas money transfers and suspected bank deposits has ended by dissolving the former national assembly and government but accountability regarding Shell Company is not over yet and it will pursue until referring the case to the Public Prosecution. If the relevant committee issues instructions for compensating the companies- and such a result is expected highly- then the sum of compensation will be paid from the public fund and such steps contribute in wasting the public fund aside from violating laws because such instructions should be issued as a sentence after considering the case by the relevant court. If the minister decides on those steps then he will be referred to the court of the ministers later! We hope the MP Al-Barrak would ask for the minutes of the special arbitration sessions in order to disclose the circumstances of the case! If the MP asks for the contract of partnership with Dow Company then he will discover more hidden facts but we believe that we need mega demonstrations to force the officials of the ministry to disclose the very contract. Finally, we would like to recommend Al-Barrak to keep an eye on the minister of oil.
(After another month)
I want a salary increase; my embassy says I am entitled to a salary increase.
Um Qatada, your maid has escaped! Let us look for her at Jleeb!
Ok, I do not want any trouble.
So I paid KD 800 for her to finish her papers and come to Kuwait, and I also increased her salary to KD 80 per month, and she still escapes!
The Gulf and political Islam Dr. Shamlan Yousef Al-Esa
ontroversy about the Movements of political Islam- in Arabian countries that underwent the Arab Spring- has come to surface again and the very movements influenced the Kuwaiti street and the results of the previous parliamentary elections.The electoral victory that political Islam movements achieved in Kuwait caused the movement to show more extremist stances. The religious extremism has also increased at the Bahraini parliament. Meanwhile, the Saudi Crown Prince Nayef Bin Abdulaziz had warned against the increasing influence of the Muslim
Brotherhood Movement in the region. The Emirati Lt General Dhahi Khalfan has warned against the increasing influence of the movement as the movement might plan to topple the Gulf regimes! The Muslim Brotherhood Movement and the Salafi one have supported the Syrian people against the brutal regime and they supported the Bahraini government too. In the mean time the Shiite political Islam movements supported the Syrian regime against the Syrian people and supported the Bahraini people against the government. Such stances urged the Gulf governments to endorse tough stances against the Syrian and Iranian regime. However, the proposals of the move-
ments of political Islam before the last parliamentary elections were reasonable and moderate as they believed in the civil state and in protecting the constitution besides calling for reforms but when the movements won the majority of the parliamentary seats they changed their tactics and started calling for amending the second article of the constitution to make Islam as the main source for legislation. The odd thing, is that the Gulf governments contributed in supporting the movements of political Islam in an attempt to decrease the influence of the national and other liberal movements and the very movements in Kuwait control the Ministry of Awqaf and Islamic Affairs in
addition to the Ministry of Education and by that they changed the curriculum. Anyway, enabling the movements of political Islam to reach the Kuwaiti and Bahraini parliaments will not stop at this extent as some people think and they might try to achieve more targets especially that they have already exploited democracy to reach their current target. They also claimed that they have an interest in respecting the constitution but after reaching power they attempted to change the second article therefore all individuals who support freedom and human rights have to become unified in order get ready for the battle which has started in the last stage.
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tuesDAY, april 17, 2012
North Korea’s nuclear parable
After Osama bin Laden was killed in May 2011, an illusion took hold that, with Al-Qaeda diminished, the threat of nuclear terrorism had receded as well.
ne of the great ironies of the twentieth century is that so significant a scientific advance as the ability to split the atom did not bring greater security. While North Korea has grabbed world headlines again with its failed launch of a long-range missile, and its threats to stage an underground nuclear test, Indians are protesting against the construction of nuclear power plants, owing to growing concerns about safety. The nuclear bomb was the first technological advance to follow from splitting the atom, and countries that could adopt it quickly did so, without fully understanding its destructive power. Today, the complex engineering capacity needed to produce nuclear weapons - skills restricted to a few countries through the 1970’s - is rather commonplace. The number of countries that can build such devices has multiplied, as has the destructive power of these weapons. This democratization of nuclear capacity has fueled anxiety about weapons proliferation among states - even a basket-case economy like North Korea has joined the club - and of “privatization” of weapons by terrorist groups. As a result, in October 2010, the United States and Russia - the world’s two largest nuclear powers - joined 80 other countries in the Global Initiative to Combat Nuclear Terrorism. In turn, retired US and Russian military and intelligence established the Elbe Group, named for the river where the two countries’ forces met in the closing days of World War II. By May 2011, the group produced a “Joint Threat Assessment on Nuclear Terrorism,” which outlines the threat in graphic detail. The report reflects a growing consensus that “terrorists could obtain nuclear materials and use them,” concluding gravely: “If current approaches toward eliminating the threat are not replaced with a sense of urgency and resolve, the question will become not if, but when, and on what scale, the first act of nuclear terrorism occurs.” After Osama bin Laden was killed in May 2011, an illusion took hold that, with Al-Qaeda diminished, the threat of nuclear terrorism had receded as well. But terrorist groups abound in
Rockets are carried by military vehicles during a military parade to celebrate the centenary of the birth of North Korea’s founder Kim Il-sung in Pyongyang on April 15, 2012. (Reuters)
Pakistan, and the country is increasing its stockpile of fissile material faster than anyone else in the world. Indeed, Pakistan has begun producing tactical nuclear weapons, which must be kept dispersed, and are thus less secure. Seizures of illegal fissile material have declined since the 1990’s, when nuclear states disposed of roughly 480 kilograms of highly enriched uranium - a building block for a nuclear bomb. Kazakhstan led the way. Graham Allison of Harvard, an authority on nuclear terrorism, recounts that as assistant secretary of defense in the Clinton administration in early 1993, he
The challenge of Islamic finance Andrew Sheng Ajit Singh Project Syndicate
ith Britain now in talks to sell part of the government’s 82 percent stake in the Royal Bank of Scotland to Abu Dhabi sovereign-wealth funds, the Islamic world’s growing financial clout is once again on display. That clout also poses a systemic challenge to the dominant way that finance is now practiced around the world. From humble beginnings in the 1990’s, Islamic finance has become a trillion-dollar industry. The market consensus is that Islamic finance has a bright future, owing to favorable demographics and rising incomes in Muslim communities. Despite skepticism regarding accommodation between Islamic and global finance, leading banks are buying Islamic bonds and forming subsidiaries specifically to conduct Islamic finance. Special laws have been enacted in non-Muslim financial centers - London, Singapore, and Hong Kong - to facilitate the operation of Islamic banks and associated financial institutions. How should these developments be viewed from the perspective of Western finance and mainstream economic analysis? Does Islamic finance really constitute a viable alternative financial system? The very fact that such a question is asked nowadays is significant. Not so long ago, Islamic finance was superficially dubbed a zero-interest-rate system that would lead to inadequate and inefficient resource mobilization and utilization. Ironically, mainstream central bankers today routinely use precisely such policies when pursuing massive “quantitative easing.” There are two central precepts of Islamic finance: absolute prohibition on charging interest on financial transactions, and high moral standards on the part of lenders and borrowers. Interestingly, the best economic rationale for a zerointerest-rate system is provided in John Maynard Keynes’s The General Theory: “Provisions against usury are amongst the most ancient economic practices of which we have record....In a world, therefore, which no one reckoned to be safe, it was almost inevitable that the rate of interest, unless it was curbed by every instrument at the disposal of society, would rise too high to permit of an adequate inducement to invest.” Keynes suggested that only a very low or zero interest rate could ensure continuous full employment and distributional equity. Keynes’s endorsement of such a policy does not necessarily make it right, but his analysis does suggest that it should be regarded as a serious proposition. Importantly, although interest is prohibited under Islamic finance, profit is not; the latter is derived from various arrangements that combine finance and enterprise. In essence, this is a profit-sharing and risk-sharing system that is based entirely on equity finance. Islamic finance thus contrasts with the current dominant system based on interest-bearing debt, in which risks are theoretically transferred to debt holders, but in practice are socialized during crises. Other things being equal, most economists will agree that debt finance leads to greater instability than equity finance. It follows from the second major tenet of Islamic finance that if people adhered strictly to its ethical requirements, there would be fewer moral-hazard problems in Islamic banking. Moral hazard exists in all systems in which the state ultimately absorbs the risks of private citizens. But, whether any particular system is efficient in avoiding moral hazard is a matter of practice, rather than of theory. Many would agree that, historically, Christian morality played an important role in the rise of Western capitalism. Secular capitalism, however, has experienced an erosion of values, whereby the financial sector has put its own interests above those of the rest of society. If the ethical values in Islamic finance - grounded in sharia religious law - can further deter moral hazard and the abuse of fiduciary duties by financial institutions, Islamic finance could prove to be a serious alternative to current models of derivative finance. Moreover, the basic tenets of Islamic finance force us to re-think the ethical basis of modern monetary arrangements, which have evolved into a global reserve-currency system founded on fiat money. In the past, gold had been the anchor of monetary stability and financial discipline, even if it was deflationary. The test of any alternative financial system depends ultimately on whether it is - or can be - more efficient, ethical, stable, and adaptable than the prevailing system. For now, there is no Islamic global reserve currency and no lender of last resort. But the Islamic world is the custodian of huge natural resources that back its trading and financial activities. As the Islamic world grows in stature and influence, Islamic finance will become a formidable competitor to the current financial system. The world would have much to gain if the two systems were to compete fairly and constructively to meet people’s needs for different types of finance. Andrew Sheng, President of the Fung Global Institute in Hong Kong and Chief Adviser to the China Banking Regulatory Commission, is a former Chairman of the Securities and Futures Commission of Hong Kong. Ajit Singh is Emeritus Professor of Economics at Cambridge University. This article is based on their forthcoming Cambridge Center for Business Research Working Paper on Islamic finance.
received a phone call from William Courtney, the ambassador in Kazakhstan, who said that a stash of highly enriched uranium had been found in a warehouse in Almaty, secured with only a padlock. Reportedly, enough uranium to produce 35 or 40 bombs was retrieved. Do other forgotten stores lie around the globe? One site that has not been forgotten is North Korea. Having agreed in February to halt nuclear tests, uranium enrichment, and long-range-missile launches in exchange for food aid, the country nonetheless attempted to
launch its most powerful rocket yet. Moreover, the launch’s failure may have made a third nuclear weapons test more likely. There are two main obstacles to eradicating threats like those posed by North Korea: the sense that a nuclear weapon is the trump card in defense of national sovereignty, and insufficient progress on nuclear disarmament by the world’s main nuclear states (the US, Russia, China, France, and the United Kingdom). Indeed, the US and Russia have merely repeated their commitment, made in 2010, to dispose of 68 tons of weapons-grade plutonium. When
Can the euro omelet be unscrambled? Hugo Dixon Reuters
an the euro omelet be unscrambled without provoking the mother of all financial collapses? With the crisis heating up again as Spanish 10-year bond yields hit six percent last week, the question has renewed urgency. The conventional wisdom is that such unscrambling is impossible. The economic, political and legal complications of bringing back national currencies are so immense that the euro zone’s 17 nations are effectively locked in a prison with no exit. A 250,000 pound prize offered by Simon Wolfson, a UK businessman, has aimed to turn this conventional wisdom on its head. In offering what is the second-largest economics prize after the Nobel, Wolfson hoped to stimulate creative juices. In one case, he has - although even it is no silver bullet. Of the myriad problems with returning to the drachma, peseta and lira, the most intractable is how to prevent it triggering bank runs and ultimately financial chaos. Depositors would flee if they thought their euros were set to be converted into a national currency certain to suffer dramatic and immediate devaluation. This has already been happening to some extent in Greece. If the Greeks knew for sure that their old currency was coming back, the current fast walk would turn into a stampede. Even worse, the damage wouldn’t be confined to Greece. Depositors in other peripheral countries would pull savings from their banks. Bond markets in these other countries would also seize up. Why would anybody want to lend money to Rome or Madrid in euros if they thought they were going to be paid back in devalued liras or pesetas? The solution proposed by most Wolfson Prize finalists is secrecy. Plans for a country’s exit from the euro should be kept under wraps and then sprung on the unsuspecting world on a Friday evening. But this is impractical. How could 17 governments keep secret something that will involve lots of wrangling? Would a democratic
Of the myriad problems with returning to the drachma, peseta and lira, the most intractable is how to prevent it triggering bank runs and ultimately financial chaos.
country really be able to foist such a momentous decision on its people without a parliamentary debate? Even if secrecy was possible, it wouldn’t stop contagion to other countries. Catherine Dobbs, a private investor who used to develop algorithms for an investment firm in the City of London, has come up with an ingenious solution. At the point of break-up, every euro - wherever it is located - is replaced by a basket of two or more new currencies. This is a radical shift in thinking. Until now, most people had envisaged all economic activity in the exiting country being redenominated in its new local currency while all the other countries kept the euro. Dobbs illustrates her idea using the unscrambling the egg metaphor. The euro zone is broken up into two sub-zones: the yolk and the white. For some bizarre reason, she equates the yolk with the periphery (Greece, Spain etc) and the white with the core (Germany, the Netherlands etc). But I’m going to flip it round as it’s more intuitive to think of the yolk as the core. The idea is that every euro is swapped for a fixed ratio of yolk currency and white currency, roughly in proportion to the relative size of the two sub-
Why Facebook bought Instagram Ryan McCarthy Reuters
y now you’ve heard all about Facebook buying the two-year-old photo-sharing app Instagram for one billion US dollars. In the process, Facebook made Instagram’s handful of employees and investors filthy rich, pissed off Internet nerds and made the front page of the NYT and the WSJ. Commentators like Dan Primack have argued that this was a defensive acquisition: Facebook was simply buying up its biggest competitor in the photo-sharing space. It’s also completely reasonable that Facebook, built on the browser, as Robert Scoble and Jenna Wortham note, was making a play for the growing mobile-web audience. But there’s something else going on here. Om Malik, who says he spends “an hour a day on Instagram,” is on to something when he says Instagram is
built on the vagaries of human emotion: Instagram created not a social network, but instead built a beautiful social platform of shared experiences. People like Facebook. People use Facebook. People love Instagram. It is my single mostused app. I spend an hour a day on Instagram. I have made friends based on photos they share. I know how they feel, and how they see the world. Facebook lacks soul. Instagram is all soul and emotion. But what if Malik’s “soul” is really just another word for quality? Instagram just may be the first company that’s figured out the quality problem with user-generated content on the Web. This is bound to be incredibly appealing to advertisers, who are increasingly moving away from static news and content and into the social-media space. Just ask BuzzFeed. Compare an Instagram feed (here’s a hacked-together link to mine; I’m not a photographer, but Instagram somehow makes me better) with what’s being uploaded to YouTube and written on Twitter or even with photos shared on Facebook itself. Would you rather run your ad next to an artfully sepia-toned photo of a cityscape or in the
they will do so is unknown. But if they do not act, no one else will. Such inertia is unacceptable. Perhaps the newly restarted nuclear talks with Iran can break the ice and advance the process of global nuclear disarmament, but that seems a slim hope, at best. Even Brazil, once a staunch advocate for nuclear non-proliferation, now insists that all states have an inalienable right to enrich uranium for peaceful purposes. It is difficult to imagine where a catalyst for change will arise. A nuclear summit in Seoul last month generated little momentum to diminish the threat posed by rogue and unstable nuclear power. Roughly 40 countries are operating or constructing nuclear reactors to meet their energy needs. What if all wish to become nuclear weapons states? In fact, their intentions might not matter. The more nuclear capacity there is around the world, the greater the danger that terrorists’ will gain access to it. And now, I fear, we have reached the point at which the question is no longer whether that will happen, but when. Jaswant Singh, a former Indian finance minister, foreign minister, and defense minister, is the author of Jinnah: India - Partition - Independence.
zone’s economies. Say for every euro, people got 70 percent of a yolk and 30 percent of a white. Once this has happened, the yolk and white are free to float - with the yolk presumably appreciating and the white currency depreciating. New contracts are denominated in yolk or white. But existing euro contracts have to be honored by delivering the fixed proportion of yolks and whites in the basket. The one exception to this - which Dobbs hints at but doesn’t spell out - would be employment contracts: they would need to be redenominated into their new local currency. This would effectively allow wages in the periphery to fall, which is vital if competitiveness is to be restored. The beauty of the scheme is that there’s no incentive for citizens in the periphery to grab their savings in the run-up to such a switchover and pop them into a core bank. Their euros will be worth the same wherever they are located. As a result, the detailed planning for the break-up can be done in public rather than in secret. Neat as Dobbs’ idea may be, the politics of it are problematic. While savers in peripheral countries would like receiving a mixture of yolk and white for their euros, those in core countries could hate it. They would feel that a chunk of their savings was being forcibly swapped into the weak white currency even though, in theory, the value of the basket should still be one euro. Workers in the periphery who would be paid only in the depreciating white currency wouldn’t be happy either. While their wages would effectively be slashed, their debts, rents and other costs wouldn’t be. Many would face hardship and bankruptcy. Perhaps that is just too bad. Somehow wages have got to come down in the periphery and devaluation would be a faster way of getting there than the current grinding austerity, which isn’t pleasant either. The snag is that such vested interests mean it’s most unlikely that heads of government could discuss the yolk/white scheme one day and back it. Rather, there would be lots of debate over what the right plan was. And before any decision had been reached, there would have been a massive capital flight. Sadly, the euro egg looks pretty well scrambled. Hugo Dixon is a senior Reuters columnist. The opinions expressed are his own.
comparatively messy worlds of Facebook,Twitter or YouTube? You don’t need to be Don Draper to see which is more appealing. Facebook certainly knows how to target ads to its audience’s interests, but as we all know by now, Facebook users post any number of boring, selfinterested or otherwise forgettable updates (this happened roughly when your parents joined). Instagram photos, as Jack Shafer suggests, are simple and frequently brilliant. Instagram has not yet tried to bring in any revenue, but I’m not sure that matters in valuing the company. Instagram’s growing audience of some 30 million people may end up being more valuable on a per user basis than Facebook’s. The conventional wisdom that Facebook sees Instagram as competition is not the whole story. It may also see Instagram as having particularly advertiser-friendly content that its own users currently have trouble producing. Think of it as a one billion US dollars way to make your parents’ status updates more interesting. Ryan McCarthy is a Deputy Editor of Reuters. com. The opinions expressed are his own.
tuesday, april 17, 2012
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Tel: 66291129 SLR
Westener teacher available to tutor English American and British Curriculums in English, Math and Science or Art.
For rates, please call
Deluxe villa for rent in Egila, strategic location located around 3 streets, 2 floors, 7 bedrooms and 5 bathrooms, 4 living rooms + 2 kitchens and 2 gardens. Tel: 55969322
Arabic Teacher for non-native speakers Beginners and advanced - All levels of the Arabic language - IGCSE & GCSE. Only 10 KD for an hour and free books
Apartment in Zahra, 3 bedrooms, 2 baths, living room and kitchene, KD360, Tel: 99725755 Apartment in Manqaf, 3 bedrooms, 3 bathrooms, living room and kitchen.Tel: 90958689
Apartment in Mahboula, 4 master bedrooms with baths, living room, kitchen, maids room, laundry and storage room ,swimming pool, parking. Tel: 65563683
Apartment in Salmiya, 3 bedrooms, 3 bathrooms, living room, kitchen, pool, DSL and kids playground, KD475.Tel: 66297171
Chevrolet Lumina V6 2008 model done 80000 km in good condition for KD 2800, single used. Tel: 99962456
Volkswagen Touareg 2005, navy exterior in a very good condition, KD 2500.Tel: 94404405
Toyota mini buss KD2900.Tel:24747418
Ford Lincoln, grey exterior. Tel: 99288558
Mercury Grand Marquis 2005, hardly used in great condition with valid insurance.Tel:97175533
Lexus IS400 1998, navy full option, KD 1900.Tel: 97803380 Hyundai 2000, green exterior, KD 500.Tel:99628345 BMW 2000, White exterior, beige interior, KD 1250 Tel: 97878183 Toyota Camry 2000, in great condition.Tel:99734995
Learn French, Speak French! Private French lessons with an experienced teacher in all levels and with all age groups. Interested?
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Laptop repairs, Formats, anti-virus program and games.
A well known Bakala
located at Block 4 Mahaboula behind Alia and Galia Tower. Floor space 5mX5m, with bathroom, include 2 chillers, 2 freezers, cash register, vegetable scale, with stocks.
Paints and wallpapers, professional work. Tel:99795097
Interested parties may contact
I am an MBA holder with more then 23 years experience in Accounting, Analysis, and Business development. Responsibilities in India & Kuwait, now I am looking part time job after 6 pm from Sunday to Thursday, Friday & Saturdays full day free, if any suitable vacancies for me please contact 55710397.
Learn Arabic For foreigners to learn Arabic easily. Contact: 66972388
Packing and moving services.
Required Sales person for men’s textiles shop with sales experience (speaks Arabic). Salary KD 160 + commission. Tel: 66970789
Seeking qualified female Nail Technicians of Filipino Nationality. If interested please contact 99030565 or 25319812.
Required sales person with knowledge of using the computer. Tel:66292269
Egyptian babysitter, baby sit kids from 1 years old to 4. Tel:94996159
Required chef for Lebanese restaurant. Tel: 6509292697686366
Apartment in Abdullah Al Ahmad, 3 bedrooms, 2 bathrooms, living room and kitchen. Tel:90958689.
Those interested can call: 97932925
Apartment in Salmiya, 2 bedrooms, 3 bathrooms, maid room, living room and kitchen, KD400. Tel:67004704
Nissan Altima Tel:94915050
25/12 - 25-02
Apartment in Jabriya, 3 bedrooms, 3 bathrooms, living and kictehen.Tel: 66256814
Studio in Salwa, block 1, street 6, house360, KD260. Tel:66143662
Apartment in Manqaf, private entrance, 3 bedrooms, 3
Super deluxe furniture apartment in Salmiya, 2 rooms, 2 baths, living room, kitchen and laundry room, KD500.Tel:25352200
Apartment in Hawalli, duplex furnished, great location, 2 master rooms, kitchen, living. Tel: 97720081
Apartment in Hawalli, 2 master rooms, kitchen, balcony and living room. Tel:60001848
Room available only for Filipino, single lady near Kuwait National English School, Hawally. Accessible to bus going to City and Sharq. New building with Pinoy TV Channel and large sala & dining area. Tel: 97197268
Investors looking to take advantage of EB-5 Investor Program to obtain US Citizenship, Investing US$ 500,000 in Approved Regional Center, investors receives “Green Card” within 4 months allowing permanent residency. Fund is placed on real estate investment for 5 years with up to 6% income per year. For appointment call: (965) 66834599, Email: nkoni@ konikonsultants.com / website: www.KoniKonsultants .com
25/12 - 25-01
Professional gardening services.
contact Mr. Khaled Ph: 99619998 & 55619998
1. Showcase – from Home Centre (three piece – TV unit, book case and glass case) Price: KD. 15 each (All three pieces for KD. 35) 2. Wooden coffee table with 4 drawers (Home Centre) Price: KD. 15 3. Side table with wooden drawers (3 shelves) Price: KD. 6 4. Dark brown three door cupboard with two full length mirrors Price: KD. 30 5. Full length light brown cupboard with mirror Price: KD. 30 6. Wooden shelves Price: 500 fills each 7. Book stand Price: KD. 5 8. Ikea Wooden crib Price: KD. 15 9. Ikea changing table Price KD 8 10. Playpen Price: KD. 5 11. Baby Pram Price: KD. 8 12. Sony Trinitron TV, 29 inches Price: KD. 25 13. Queen size bed (includes mattress) Price: KD. 30 14. Wooden Master bed (King size) Price: KD. 40 (includes mattres)
50kgs Weight lifting set of dumbbells - KD 30 Exercise bench for lifting - KD 25 AB King Pro W/C - KD 15 All the above are as good as new.
Serious buyers please contact 67002524
Items for sale
TREADMILL excellent condition, high-tech screen, KD 35. Tel:90989840 Billiard table for sale in great condiditon.Tel:66666168
- Flexible Timing - Reasonable Price - For all languages
Birthdays and weddings
Satellite service, 24hours, covers all area.
Driving Instructors available for learners
Boston whalev super sport 150 boat.Tel:65880918
Tuitions available with a qualified /experienced teacher in Hawalli for students from Class 1 to Class 7 in all subjects except Arabic.
EB-5 Investor Program
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Tuition available in Hawalli
Exercise equipments for sale
GMC Yukon 1999, spacious and clean. KD 1700, price is negotiable. Tel:66694310 Nissan Maxima 2008, 6VS, KD 3200. Tel: 99997494 Nissan Maxima KD1500. Tel: 66565511
Carpool service, female driver covers all Kuwait areas.
Website designer and management
Sewer system cleaning. Tel:66070166
Paints and wallpapers.
Baraka: Tel: 99881053
Kuwait signs two contracts to export oil, fuel to Ethiopia
KUWAIT: Kuwait Petroleum Corporation (KPC) signed two contracts to export consignments of diesel oil and aircraft fuel to Ethiopia. KPC’s International Marketing Sector, said in a statement on Monday, that the three-year contracts will provide most of Ethiopia’s need of aircraft fuel and nearly third of the country’s requirement of diesel oil. Increasing the supplies of oil and fuel are subject to change in the future, the statement pointed out. The contract-signing ceremony took place in Kuwait with the attendance of the International Marketing sector Managing Director Nasser Al-Mudhaf and his deputy Yousef Al-Qabandi. The Ethiopian side, however, included Chief Executive Officer (CEO) of the Ethiopian Petroleum Enterprise, number of officials and the Ethiopian Ambassador to Kuwait Halima Mohammad.
tuesdAY, april 17, 2012
m ar ket watc h KUWAIT
OIL MARKETS BAHRAIN
US Crude $102.89 $0.06 London Brent $121.83 $0.11 Kuwait Crude $116.32 $0.00 Information Courtesy: KAMCO
NBK reports net profit of KD 81 million for Q1 2012 CAPITALS: National Bank of Kuwait (NBK), the largest Kuwaiti bank and the highest-rated in the Middle East, reported net profits of 292 million US dollars (81.0 million Kuwaiti dinars) for the first quarter (Q1) of 2012 compared with $291 million (KD 80.8 million) for the same period in 2011. First quarter 2012 net profits came 5.5 percent ahead of the fourth quarter of 2011. This was stated in a press release on Monday. As of end of March 2012, NBK Group’s total assets reached $ 51.8 billion (KD 14.4 billion) up 3.5 percent compared to March 2011, while total shareholders’ equity increased by 5.5 percent year-on-year to $8.1 billion (KD 2.3 billion). Profitability indicators remained among the highest in the region with return on assets (ROA) of 2.33 percent and return on equity (ROE) of 15.0 percent. NBK’s net operating income continued to improve in Q1 2012 reaching $481.4 million (KD 133.7 million). Ibrahim Dabdoub, NBK’s Group Chief Executive Officer (CEO), said, “NBK’s strong financial position underpins the bank’s ability to generate solid performance despite the challenging operating environment”. “Our focus on core banking operations in and outside Kuwait remained a differentiator as our regional operations delivered resilient performance and contributed to the strong profitability achieved in the first quarter. This along with the strengthening of Boubyan Bank’s (47.3 percent owned by NBK) market position and profitability continued to support NBK’s efforts to better diversify its income sources.” Dabdoub added. Dabdoub
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CURRENCIES US Dollar
Buy 0.2783 Sell 0.2784 Buy 0.3639 Sell 0.3641
Buy 0.441 Sell 0.4413
Buy 0.003437 Sell 0.003442
Buy 0.0742 Sell 0.0742
Buy 0.07577 Sell 0.07582
Buy 0.07646 Sell 0.07642 Buy 0.7382 Sell 0.7385
Buy 0.005402 Sell 0.005398 Buy 0.006542 Sell 0.006527
Prices in Kuwaiti fils as of April 15, 2012 Courtesy: KAMCO
Dubai’s Nakheel posts 33% rise in 2011 profit DUBAI: Indebted Dubai state-owned developer Nakheel Properties reported a 33-percent rise in 2011 profit on Monday and said that it anticipated an improvement in the struggling real estate sector. Nakheel reported a net profit of 1.3 billion UAE dirhams (353.93 million US dollars) last year, up from one billion dirhams in 2010. Revenues rose to 4.1 billion dirhams, a company statement said. Total liabilities fell to 41 billion dirhams last year from 61 billion dirhams in 2010. “The market is picking up so there was no need for impairments (in 2011),” Chairman Ali Rashid Lootah told reporters. Assets at the end of 2011 totalled 24 billion dirhams, up from eight billion in the prior-year period. Lootah attributed this to a restructuring, improved market conditions and a revised business plan.
During the year, Nakheel delivered 820 units including land parcels. “Revenues were mainly driven by the handover of properties in several of the Group’s developments, mainly Palm Jumeirah, Jumeirah Village, International city, the World, and Al Furjann,” the company statement said. Nakheel, which overstretched itself late last decade with ambitious projects such as a man-made islands in the shape of palm trees, was brought under direct government control last August as part of the restructuring of its parent Dubai World Although there are some signs that Nakheel’s business is reviving - it launched a residential project on its Palm Jumeirah site this year, the first to be publicized since the real estate market collapsed - it still faces difficult business conditions and a multi-year process of paying down debt. -Reuters
Bourse drops 21.3 points at end of trading Most KSE-listed companies forecast to post limited profits, says experts
Ibrahim Dabdoub, NBK’s Group CEO
Mohammed Al-Bahar, NBK’s Chairman
also highlighted that NBK’s fundamental strengths, along with its clear strategic vision, robust risk management practices and sustainable financial performance helped the bank maintain its strong position through different crises and continued to earn it international recognition. In 2011, NBK maintained its top ranking among Middle Eastern banks and was named the ‘Best Bank in the Middle East’ by Euromoney, The Banker and Global Finance magazines. Additionally, NBK moved 14 positions to rank 33 in Global Finance’s list of the 50 safest banks in the world. NBK continues to enjoy the widest banking presence in Kuwait with 67 branches, which together with its growing international presence totals 176 branches
worldwide. NBK’s international presence spans many of the world’s leading financial centers including London, Paris, Geneva, New York and Singapore, as well as China (Shanghai). Meanwhile, regional coverage extends to Lebanon, Jordan, Iraq, Egypt, Bahrain, Qatar, Saudi Arabia, the United Arab Emirates (UAE), and Turkey. NBK continues to enjoy collectively the highest ratings among all banks in the Middle East from the three international rating agencies Moody’s, Fitch Ratings and Standard and Poor’s. The Bank’s ratings are supported by its high capitalization, prudent lending policies, and its disciplined approach to risk management, in addition to its highly recognized and very stable management team.
KUWAIT: Kuwait Stock Exchange (KSE) closed Monday in the red zone. The price index read 6,196 points at a drop of 21.3 points, while the weighted index came to 411.63 points, a drop of 1.43 points. Trades came to 3,832 transactions, worth 29.2 million Kuwaiti dinars, and volume reached 328.7 million shares. Meanwhile, according to economic experts, most companies listed in Kuwait Stock Exchange (KSE) are forecast to post modest profits for operations of the first quarter of 2012. The figures, interviewed by Kuwait News Agency (KUNA), attributed the prediction to lack of new market incentives and suspension of some development schemes; factors that boosted bearish trend of indices of the KSE listed sectors. Shedding further light on factors and circumstances that contributed to the downward trend, the economic figures noted that delay of some banks and major investment companies in revealing their regular financial statements came in favor of speculators’ activities of influencing the market. Mohammed
Al-Hajeri said the companies, judging by payment of cash dividends in the third and fourth quarters of 2011, did not post good outcomes, as anticipated, as a result of restructuring and altering status of some of the firms. Elaborating, he forecast identical performance of the companies in the first quarter of 2012, due to lack of enterprises and shortage of liquidity. Moreover, major banks are due to disclose their financial reports in the first quarter of 2012, and that would constitute major boost to the other sectors. The economic expert, Naif Al-Enezi, concurs, forecasting limited earnings by the listed companies, noting that they have been trying, in vain, to make some substantial profits, since start of the year. Some of these companies lack credibility and transparency, thus they may be suspended following expiry of the legal grace period, unless they alter their status, otherwise they are likely to join the list of the suspended ones, thus aggravating the existing problem in the market, particularly in the sector of investment companies, Al-Enezi added.
tuesDAY, april 17, 2012
Oil falls to $120 on Spanish debt, China data CAPITALS: Oil dipped towards 120 US dollars on Monday as renewed worries about the eurozone triggered by Spanish debt problems and concerns about slower growth in China prompted a pull back in investor risk appetite. Brent crude futures were down $1.16 to $120.05 a barrel by 1010 GMT, after earlier falling below the key $120 level and trading down to $119.59 a barrel. US crude was down 19 cents to $102.64 a barrel, off an intraday low of $101.86 a barrel. “The overall mood is one of risk aversion after the news from Spain,” said Eugen Weinberg, an energy analyst at Commerzbank in Frankfurt. “Credit default swap spreads are at record high levels and Spanish banks are having trouble getting money in the markets and are going to the European Central Bank instead. That is weighing on sentiment.” Spanish 10-year bond yields broke above the key six percent level as investors worried the country would not be able to keep its budget deficit in check. The rise in yields followed data on Friday that showed record borrowing by Spain’s banks from the ECB. “Across the board, from equities to commodities, the sentiment is risk off,”
agreed Michael Poulsen, an oil analyst at Global Risk Management. As a result of the renewed worries about the eurozone, the euro came under pressure against the dollar, falling to twomonth lows. This helped the dollar rise 0.25 percent against a basket of currencies. A stronger dollar makes commodities priced in dollars more expensive for buyers using other currencies. Oil prices were also reflecting worries about reduced demand from China after data on Friday showed the economy growing at its slowest pace in nearly three years in the first quarter. China’s implied oil demand rose moderately in March over a year earlier, but stood at a five-month low on a daily basis, as refineries scaled back their runs to the lowest level since October due to maintenance and poor refining margins. Reflecting the shift in sentiment, speculators cut their net long positions in US crude oil futures and options positions to the lowest level since December in the week to April 10, data from the US Commodity Futures Trading Commission showed on Friday. Iran negotiations
Analysts also pointed to talks between Iran and six world powers that took place
over the weekend, which were considered constructive enough to go ahead with another meeting in Baghdad on May 23.” Despite the upcoming import ban for Iranian oil, Iran is back at the negotiating table, which has reduced the possibility of immediate attacks on Iranian installations or a blockade of the Strait of Hormuz, so the geopolitical premium in Brent is waning,” said Commerzbank’s Weinberg. US President Barack Obama said more sanctions would be imposed on Iran if there was no breakthrough in nuclear talks with global powers in the coming months. The potential for supply disruption and tighter sanctions has helped push crude prices higher in 2012. The European Union’s ban on importing Iranian oil, which is set to start in July, has already curbed Tehran’s exports. However, some analysts believe a pick up in supply from other producers, as indicated by last week’s report from the International Energy Agency, should drive prices lower in coming months. Oil at $120 a barrel is seen as a key technical support level for Brent because it is a former line of resistance that held almost all last summer before prices eventually punched higher into a new trading range this year. -Reuters
FILE - An employee updates gas prices at a gas station in Nanjing, Jiangsu province, April 14, 2010. Oil dipped towards $120 on Monday as renewed worries about the eurozone triggered by Spanish debt problems and concerns about slower growth in China prompted a pull back in investor risk appetite. (Reuters)
Kuwait signs two contracts to export oil, fuel to Ethiopia Emarat to buy Kuwait jet fuel, Mideast flying grows
KUWAIT: Kuwait Petroleum Corporation (KPC) signed two contracts to export consignments of diesel oil and aircraft fuel to Ethiopia. KPC’s International Marketing Sector, said in a statement on Monday, that the three-year contracts will provide most of Ethiopia’s need of aircraft fuel and nearly third of the country’s requirement of diesel oil. Increasing the supplies of oil and fuel are subject to change in the future, the statement pointed out. The contract-signing ceremony took place in Kuwait with the attendance of the International Marketing sector Managing Director Nasser AlMudhaf and his deputy Yousef Al-Qabandi. The Ethiopian side, however, included Chief Executive Officer (CEO) of the Ethiopian Petroleum Enterprise, number of officials and the Ethiopian Am-
bassador to Kuwait Halima Mohammad. Those deals serve KPC’s marketing policies of opening up new markets in the African continent; especially since the Ethiopian market is one of the appropriate and promising markets for diesel and fuel producers. In more news, Emirates General Petroleum Corporation (Emarat) has secured an additional term contract with KPC to purchase jet fuel in anticipation of an increase in domestic demand, industry sources said on Monday. With Gulf airlines intensifying competition with their European rivals, there is an expected increase in demand for jet fuel in the Middle East region this year, they said. Emarat has finalized a term deal with KPC to purchase six jet fuel cargoes for delivery over April to December, one of the sources familiar with the matter said. It is unclear if this is Emarat’s first term deal of its kind with KPC, but the deal was finalized in anticipation of premiums for jet fuel surging further
on an increase in demand from airlines which are expanding rapidly, the source added. Emarat already has an existing term contract with Abu Dhabi National Oil Company (ADNOC), importing about 40,000 tons of jet fuel every month. The company has bought 40,000 tons of jet fuel in the spot market for loading in May and is expected to purchase an additional spot cargo in September, the source said. Middle East passenger traffic grew 23.4 percent in February from a year ago, versus 7.6 percent in Europe, according to airlines body the International Air Transport Association (IATA). Middle East carriers posted the second largest gain in passenger traffic in February, just behind African carriers. Recent aircraft improvements have put most of the world’s population within a direct flight from the Gulf, resulting in airport and fleet expansion and shifting more of the global network map to large hubs such as Dubai from the US and Europe. -Agencies
Iraq’s southern oil exports surge in April
FILE - In this image made on Sunday, May 31, 2009, employees work at the Tawke oil field in the Kurdish region in northern Iraq. Iraq’s oil exports from its southern ports have jumped by 190,000 barrels per day (bpd) in April, according to shipping data. (AP)
LONDON: Iraq’s oil exports from its southern ports have jumped by 190,000 barrels per day (bpd) in April, according to shipping data tracked by Reuters, a sign shipments are heading for another post-war record. Exports from the Basra oil terminal, Khor Al-Amaya, and a new Gulf outlet have averaged 2.11 million bpd in the first 16 days of April, the data showed. Iraq said its southern exports averaged 1.92 million bpd last month. Iraq is expected to provide the world’s largest expansion in oil export capacity in 2012 as new outlets open. Its supply to the world market had been held back for years by a lack of port capacity after decades of war and sanctions. Oil began loading from a new floating single-point mooring (SPM) platform in the Gulf - the first of several - on March 8. So far in April, the facility has exported four two million-barrel shipments, more than in all of March. The extra port capacity is allowing Iraq to sell more of its increasing oil output. Oil companies such as BP and ENI have been working to boost production in Iraq, which holds the third-largest reserves in the Middle East.
Until the new Gulf outlet came into operation, industry sources said companies were having to keep a lid on output at the southern oilfields, because shipments were at the limit of capacity. Iraq exports the bulk of its crude from southern ports. Shipments of crude by pipeline from the Kirkuk field in northern Iraq to Ceyhan in Turkey usually amount to 400,000 bpd and are expected to remain stable around that level. If shipments from the south are sustained at around 2.10 million bpd for the rest of April, Iraq will be on course to ship about 2.5 million bpd. That would exceed April’s total of 2.32 million bpd, which Iraq’s State Oil Marketing Organization (SOMO) said was the country’s highest since 2003, the year of the US-led invasion. Shipments from the north are sometimes disrupted by technical problems and sabotage, although industry sources say this rarely cuts tanker shipments significantly because vessels are able to keep loading using oil stored at the Turkish port. Kurdish militants on April 5 claimed responsibility for blasts on a Turkish oil pipeline that temporarily cut off the flow of oil from Kirkuk. -Reuters
ENOC signs up India’s Punj Lloyd to build oil terminal
DUBAI: Horizon Terminals, a subsidiary of Emirates National Oil Company (ENOC) has contracted India’s Punj Lloyd Ltd. to build an oil products terminal at Jebel Ali and lay a 60-km jet fuel line to Dubai International Airport, ENOC said on Monday. The terminal will have storage capacity of 141,000 cubic meters, or 887,000 barrels. It will initially handle jet fuel but will be used for other oil products later, ENOC said in a
statement. Jebel Ali, which adjoins Dubai, is a major regional products blending hub and an important fuel storage site with over three million cubic meters (mcm) of capacity at present. Dubai government-owned fuel retailer ENOC is one of the biggest storage owners at the port with its 1.2 mcm of capacity. No financial details were given. -Reuters
Libyan oil exports to total 1.29 million barrels per day in May CAPITALS: Libyan crude oil exports are expected to amount to 40 million barrels in May, or 1.29 million barrels per day (bpd), a senior official at Libya’s stateowned National Oil Corporation (NOC) said on Monday. NOC plans to sell 30 million barrels, while firms that receive oil for investing in Libyan production are expected to take 10 million barrels. The May exports are on par with April’s, also expected to be 40 million barrels, or 1.33 million bpd when divided over a smaller number of days in the month. NOC is selling a greater share in April at 34 million barrels, however, while firms with an equity interest are taking 6 million barrels. The restart date of Libya’s largest refinery, Ras Lanuf, is still uncertain, awaiting higher production by NOC subsidiary Agoco from the Sarir and Messla fields, which currently account for 200,000 bpd out of Agoco’s total output level of 324,000 bpd. Total Libyan crude oil production is averaging 1.484 million bpd, according to the official. -Reuters
Burgan Bank provides facilities worth $150 million to UASC KUWAIT: Burgan Bank announced that the bank’s Corporate Banking Group has successfully completed a finance deal with United Arab Shipping Company (UASC), the largest shipping company in the Middle East. The $150 million US dollars loan will be used for financing the capacity expansion undertaken by UASC through the acquisition of nine A13 class container ships, one of the largest of their kind in the shipping industry at present. This was stated in a press release on Monday. Majed Essa Al-Ajeel, Burgan Bank Chairman said during the signing ceremony on the 15th of April: “Burgan Bank’s Corporate Banking Group has proved over the years to be a reliable partner for growth by industry leaders such as UASC. The group continues to expand its finance deals with its corporate clients to support them in executing their strategic plans. Our support reiterates our commitment to develop and provide the best financial solutions to our clients and their businesses.” UASC is owned by six Gulf countries, namely Kuwait, Qatar, Saudi Arabia, Bahrain, United Arab Emirates (UAE) and Iraq.
Qatar Fund to buy hotels in Sardinia
Plans to keep short-term debt issuance steady
CAPITALS: Qatar Holding, the investment arm of the gas-rich Gulf nation’s sovereign wealth fund, is set to unveil a deal in the property and leisure sector in the Italian island of Sardinia including a clutch of luxury hotels, a source close to the matter said. “It will be a big deal, and the Qatari emir will be in Italy for the signing,” he said. The deal, for properties on the Costa Smeralda, or emerald coast, is likely to be announced on Tuesday, the source said speaking on condition of anonymity as the matter is not public. Costa Smeralda is a tourist destination in northern Sardinia, which includes several luxury hotels and a golf club. Qatar Holding, part of the Qatar Investment Authority (QIA), was not immediately reachable for comment. The deal will be the latest in a string of European property acquisitions by the tiny Gulf Arab state. The sovereign fund’s other high-profile investments include the upmarket Harrods department store in London and the recent buy of Credit Suisse headquarters in Canary Wharf. Gulf-government backed funds have been on a buying spree in Europe and are eyeing investments in real estate, infrastructure and other sectors. In more news, Qatar’s central bank will keep issuing four billion Qatari riyals (1.1 billion US dollars) in treasury bills every month, its chief said on Monday, suggesting that policymakers are still comfortable with strong bank lending growth despite higher inflation risks. The world’s top liquefied natural gas (LNG) exporter is expected to see long-subdued inflation reach a four-year high this year, fueled by public wage rises and large investment projects ahead of hosting the 2022 soccer World Cup. “We will continue to issue four billion riyals in T-bills at the beginning of each month,” central bank Governor Sheikh Abdullah bin Saud Al-Thani told reporters on the sidelines of a financial conference in the Qatari capital. He declined further comment on monetary policy. Qatar along with most other Gulf Arab oil exporters pegs its riyal to the US dollar. That limits the central bank’s flexibility to adjust interest rates to counter inflation as too large a differential against US benchmarks could invite inflows of speculative capital. Instead, the central bank has to count on tools such as T-bills, reserve requirements and open market operations to drain potentially inflationary liquidity from the banking system. “They do see liquidity as being a little too abundant at the moment, and loan growth has been very rapid over the last year or so,” said Liz Martins, senior MENA economist at HSBC. The central bank cut its key overnight deposit rate by 25 basis points to 0.75 percent last August to fuel bank lending to the private sector and trim hot money inflows. -Reuters
Iran starts $1 billion project to bring water to desert
CAPITALS: Iran on Monday officially launched a one billion US dollar first phase of an ambitious project to pump water from the Caspian Sea to a city in its vast and expanding central desert, state media reported. The initial phase will see a desalination plant and pipes built over the next two years to supply water to the desert city of Semnan, population 200,000, according to officials. “The desert is growing... therefore we need to control its growth,” President Mahmoud Ahmadinejad said in a speech in the northern city of Sari, near the Caspian shore. The first phase would see water for drinking, irrigation and industrial use taken from the Caspian, treated to rid it of salt, and pumped to Semnan, 150 kilometers (90 miles) away to the south. The first desalination plant to be built would have a capacity of 200 million cubic meters per year, or 548 million liters a day, according to Energy Minister Majid Namjou. Khatam Al-Anbiya group, the industrial arm of Iran’s powerful military Revolutionary Guards which has interests in key economic sectors, is handling work on the project. Later, two other phases are planned that would pump more water into desert areas from the Caspian Sea and from the Gulf, the media said. Iran has operated several other desalination plants for decades for other regions. Such seawater treatment facilities are also in use in other wealthy and arid Middle East countries, including the United Arab Emirates, Saudi Arabia and Israel, to augment scarce water supplies. -AFP
KAMCO Research ALWATAN DAILY
KAMCO (16.04.2012): A report prepared by KAMCO Research that analyzes TUESDAY, APRIL 17, 2012 the performance of the 7 GCC Equity Markets during March-12 in addition to assessing the latest key economic and market developments and their effect on the performance of each stock market.
Saudi TADAWUL best Markets performer GCC Equity Review among its GCC peers in Q1 KUWAIT: The following is a report prepared by Kuwait Projects Company (KIPCO) Asset Management Company (KAMCO) Research that analyzes the performance of the seven Gulf Cooperation Council (GCC) Equity Markets (EM) during March 2012 in addition to assessing the latest key economic and market developments and their effect on the performance of each stock market. The first quarter (Q1) of 2012 was marked by a strong performance in most of the GCC and international equity markets fuelled by the return of liquidity into financial markets along with positive progress on the Greek debt deal and the substantial banking sector liquidity boost from the ECB. GCC equity markets were also boosted by healthy corporate profitability for full year 2011 along with continuous commitment of governments to strengthen economic growth through massive capital spending on projects and key economic sectors and robust oil prices that have been hovering above the 100 US dollars per barrel since the beginning of the year. Introducing new regulations that attract foreign investors and companies to the GCC region are also playing a key role in markets’ rally. The combined market capitalization of the seven GCC Equity Markets rose during Q1-2012 by around $88.6 billion to record $812 billion; TADAWUL was the main contributor to Q1-12 gains with an increase in its market cap of around $72 billion to record $410.5 billion as of March 31, 2012. Fuelled by ample liquidity which exceeded the $182 billion mark during Q1-2012 and progress on issuing new laws and regulations related to opening up the local market to foreign investors and the listing of international stocks on the local bourse, the Saudi TADAWUL was the best performer among its peers in the GCC region with a significant gain in TASI of 22.1 percent during Q1-2012; Healthy FY-2011 corporate earnings which grew at 21 percent to $25 billion along with a 13 percent increase in FY-2011 cash dividends to $13.4 billion and robust economic growth and rapid growth in credit were the catalyst for the market and contributed in better investor sentiment. Abu Dhabi Securities Exchange which witnessed its FY-2011 corporate profitability surge 93 percent to $8 billion that in turn resulted in a 49 percent increase in cash dividends distributed for 2011 to $3.43 billion, was the second best gainer in its market cap; the bourse added
faced a correction in March as it shed 2.23 percent to 2,553 lowering its Q1-12 return to 6.27 percent. The market had gained the previous two months on the back of an upturn in investment sentiment backed by a global equities rally and healthy FY-11 earnings which almost doubled to 29.2 billion UAE dirhams ($7.9 billion). Investors became optimistic about the future prospects of the country following the government spending plan and the gradual recovery in the property market along with considering UAE as a safe heaven for investments after the negative consequences of the Arab Spring. Trading indicators remained elevated compared to 2011 but declined with volume dropping 14.55 percent to record 2.2 billion share, while value dropped marginally by 0.34 percent to 2.9 billion UAE dirhams ($787 million). Volatility spiked in comparison to last month to record 12 percent as compared to a previous eight percent. During the month, the IMF echoed positive sentiments for growth of the local economy and the proactive handling of the debt crisis but raised the concern of future global shocks pressuring local lenders and GREs. Elsewhere in Dubai, the DFM General Index reversed its two month rally as investors booked profits shedding 4.71 percent to 1,648.87. Regardless, the bourse’s Q1-12 return remained at an impressive 21.83 percent, ending Q1-12 as the second top performing market in the GCC region, backed by earnings growth and recovery in key economic sectors that are considered the engine for the growth in the emirate’s economy. Volatility surged to a 26-month high recording 33 percent, the highest level since Jan-10. Trading indicators remained highly elevated, with volume increasing by 3.23 percent to 7.9 million shares, while value rose 9.36 percent to 9.6 billion dirhams ($2.6 billion). In Qatar, the QE 20 Index was marginally up in March and ended Q1-2012 flat; despite the favorable business environment and the robust economic growth that is in excess of 14 percent in real terms. Trading indicators were mixed as volume increased 30 percent to 197.3 million shares, while value dropped four percent to 5.7 billion Qatari riyals ($1.56 billion); trades increased 21 percent to 84,284. In March, aggregate market capitalization increased 3.09 percent to 468.6 billion Qatari riyals ($128.7 billion) compared to 454.6 billion Qatari riyals ($124.9 billion).
GCC Equity Markets Benchmark Return & Volatility Closing Value
Tadawul All Share Index
KAMCO KSE TRW Index
ADX General Index
DFM General Index
QE 20 Index
Bahrain All Share Index
MSM 30 Index
KSE Weighted Index
Source: KAMCO Research
$8The billion duringQuarter Q1-2012 toof$78.7 billion investors grew to $27.2 billion, levels in not seen sinceof2007, the Tadawul First 2012 wastomarked byat 5apercent strong performance most thetaking GCC and aided by the strong economic recovery and the representing a payout ratio of 51 percent. All Share Index (TASI) to levels not witnessed international equity markets fuelled by the return of liquidity financial government full backup for key sectors (real TADAWUL was the main engine for corpo-intosince 2008 as it markets closed abovealong the 7,800with level. estate and banking). On theon other hand, Dubai debt rate deal profits and growth; Net profit of Assector a result, the TASI ended the month of March positive progress the Greek anddividends the substantial banking liquidity boost from the Financial Market (DFM) general Index was the stocks recorded $25 billion, almost 8.42 percent to close at 7,835.15 points and ECB. GCC equity markets were Saudi alsolisted boosted by healthy corporateup profitability for full year 2011 second best performer after TASI with a return half the FY-2011 profits of GCC listed compaend as the best performing market in the GCC. with during continuous commitment of dividends governments strengthen growth through ofalong 21.83 percent Q1-2012 fuelled by nies while representedtoaround 50 Duringeconomic Q1-12, the TASI rallied 22.1 percent, better than expected corporate profits which percent of GCCkey equityeconomic markets cash dividends overcoming Dubai Markethave which massive capital spending on projects and sectors and robust oil Financial prices that rose 30 percent to $2 billion along with posidistributed for investors. Qatari companies added 21.8 percent during the same Quarter. been hovering above theand USD persecond barrel since the TADAWUL year. Introducing new tive developments related to GRE debt the 100 were the profitable afterthe Saudibeginning with agIn of March, market capitalization robust growth in core economic sectors (strong investors gregate netand profit companies of $10.3 billion to followed 8.1 percent 1.54 playing trillion Saudi riyals regulations that attract foreign the by GCCrose region are toalso a key Trade and buoyant Tourism sector). Abu Dhabi and Kuwait with net profits of $8 ($410 billion) as compared to 1.42 trillion role in markets’ rally. The combined market capitalization of the 7 GCC Equity Markets rose during Qatar Exchange performance during Q1billion and $5 billion, respectively. Saudi riyals ($380 billion) recorded at the end Q1-2012 by flat around USD 88.6 billion to traded record USD billion; TADAWUL was the main 2012 was relatively despite the favorable Total value on the 7 GCC812 bourses of Feb-2012 supported by market heavyweight market conditionsto andQ1-12 robust growth key an during Q1-2012 recorded around $204.3 Petrochemical sector,to which reprecontributor gainsinwith increase in its market cap bilof around USDIndustries 72 billion record economic sectors fuelled by the government lion, with Saudi TADAWUL representing 89 sents 34.6 percent of the aggregate market cap, USD spending 410.5 on billion as of 31 March-2012. massive developing infrastructure percent of total where the Kuwait bourse was increasing 7.41 percent to 533 billion Saudi and various economic sectors. Low cash divilagging behind at a total value of $8.73 billion. riyals ($142.2 billion); and Banks & Financial dends announced for FY-2011 that remained Following the adjustment of FY-2011 finanrising 6.9 percent to 379 billion Saudi Fuelled by ample liquidity which exceeded the USD 182 billion marksector during Q1-2012 and progress unchanged from 2010 level at $4.5 billion decials, the valuation multiples of all GCC eqriyals ($101 billion). on issuing new laws and regulations related to opening up the local market to foreign investors spite the 25 percent rise in FY-2011 profits to uity markets have improved and are currently While in Kuwait, speculations fromand local $10.3 billion depressed investor sentiment and traded at attractive multiples relative to their investors targeting small cap stocks was the the listing of international stocks on the local bourse, the Saudi TADAWUL was the best performer put pressure on blue-chip stocks with moderate historical levels. The GCC equity markets are headline of the month pushing the Kuwaiti among itsQ1-2 peers thelagging GCC with a significant gain in TASI of higher 22.1% during ; liquidity during of $4.8in billion be-region currently trading at a FY-2011 P/E of 15.43x bourse to reach fresh Q1-2012 8-month highs. hind the Kuwaiti and Abu Dhabi bourses which and a P/B multiplegrew of 1.63x.at 21% to USDThe25 KSEbillion Weightedalong and KAMCO IndexHealthy FY-2011 corporate earnings which with TRW a 13% recorded a traded value during Q1-12 of $8.7 In Saudi Arabia, strong economic fundaes registered positive gains during March risincrease FY-2011 cash dividends USD 13.4 billion and robust economic growth and rapid billion and $5.6in billion, respectively. mentalstoand expectations of opening up the ing 2.64 percent and 1.96 percent to close at growth in credit were the catalyst for the market and contributed in better Q1-2012 witnessed the end of FY-2011 local market gradually to foreign investors 420.21 investor and 2,653.8sentiment. points, respectively. The earnings and dividends announcement season and allowing international companies to list Kuwaiti bourse ended the month as the second with healthy profits reported by most of the their shares on the local bourse coupled with best performer in the GCC following Saudi’s Abuequity Dhabi Securities witnessed FY-2011 corporate surge 93% to GCC markets. Corporate Exchange profitability which positive future prospects its for the economy and Tadawulprofitability Index helping push the KSE Weighted for GCC listed companies grew at expectations a bullish earnings season as and KAMCO TRW Indexes Q1-12 gains higher USD 8 billion that(630 in stocks) turn resulted in a 49%ofincrease in cash dividends distributed for 2011 to USD 21 percent to $53.3 billion up from $44 bilcame to an end, pushed confidence in to 3.6 percent and 2.65 percent, respectively. 3.43 billion, the second bestQ1-12 gainer in higher its market cap; the bourse USD the 8 ADX billion during lion for 2010 whilewas cash dividends distributed the Kingdom and fuelled liquidity to Asadded for Abu Dhabi, General Index
Q1-2012 to USD 78.7 billion aided by the strong economic recovery and the government full backup for key sectors (real estate and banking). On the other hand, Dubai Financial Market Trading Prices of Kuwait Stock Exchange Trading Prices of Kuwait Exchange (DFM) general Index was the second best performer after TASI with Stock a return of Date 21.83% during Q1Trading Prices of Kuwait Stock Exchange of Closig Prices: 16/04/2012 Date of Closing Prices: 16 fuelled / 04 / 2012 2012 by better than expected corporate which rose 30% to USD 2 billion along 05 with Dateprofits of Closing Prices: / 01 / 2012 For more information please contact “Global” at (+965) 180 42 42 or www.globalinv.net For more Information please contact "Global" at (+965) 180 42 42 or www.globalinv.net For more Information please contact "Global" at (+965) 180 42 42 orsectors www.globalinv.net positive developments related to GRE debt and the robust growth in core economic (strong Last Close Previous Close Change DTD MTD YTD 218 - Change 218 Last Close Previous Close DTD ACICO 214 Trade and buoyant Tourism sector). 80 176.5380 240,000 6 United Industries 79 80 -0.39% 177.21 -3.26% 177.91 -0.70 -1.17% Global General Index -0.40% 177.24 -0.7019,200 Global General Index 80 ź
KSE Price Index Company
National Bank Gulf Bank Commercial Bank Ahli Bank Ahli United Bank International Bank Burgan Bank Kw Finance House Boubyan Bank
1,060 425 860 270 415 740 580
430 880 275 420 750 590
Global Index - Banking Kw Investment Commercial Facilit. Int'L Financial Adv. National Invest. Kw Projects Ahlia Holding Coast Invest. Int'L Investor Securities House Ind. & Fin. Inv. Securities Group Int'L Finance MARKAZ KMIFIC Aref Inv. Group Al AMAN Inv. ALOLA Inv. ALMAL Inv. Gulf Inv. House A'ayan Leasing Bayan Inv. GLOBAL Inv. Osoul Inv. KFIC KAMCO Nat. Int'l Holding Housing Finance MADAR Al Deera Holding Al Safat Inv. Al Salam Group Ekttitab Holding Al Qurain Holding Sokouk Holding Al-Madina Finance NOOR Tamdeen Inv. Int'll Exch KW BH Int Exch.
Taiba Kuwaiti Holding
Kuwait Syrian Strategia Kuwait China Inv. Manafae Inv. Gulf North Africa Amwal Al Masar Al-Imtiaz
104 260 152 305 62 102 112 148 52 35.0 64 38.5 -
79.0 176 65 53 50 110
104 260 148 300 60 96 112 146 51 34.5 64 37.5 226.0 100.0 73.0 174 64 52 49 106
Global Index - Investment Kuwait Insurance Gulf Insurance Ahlia Insurance Warba Insurance Kuwait Re-Ins. First Takaful Ins. Wethaq Insurance
500 134 55 112 232 35.5 96 980 76 15.0 63.0 95 56 66 36.0 85 20.0 43.0 69 42.0 40.5 21.5 32 54 350
Global Index - Real Estate Nationl Ind. Group Pipes Ind. & Oil Kuwait Cement Refrigeration Ind. Gulf Cables & Elec. Heavy eng. & Ship. Marine Services Portland Cement Shuaiba Industrial Metal Collecting Kuwait Foundry
228 120 -
295 136 890 112 350
224 118 1,260 290 134 880 112 350
1060 425 790 610 860 275 425 750 590 318.51
5 10 -5 -10 0.29-
1,157,500 780,000 495,000 670,000 660,000 665,000 500,000 4,927,500
33 19 28 11 17 31 16 155
1,227,150 331,850 431,800 181,050 277,100 498,000 293,800 3,240,750
1,060 425 590 870 270 415 740 580
1,080 430 620 880 275 420 750 590
2 1 60 11 103 12 2 76 49 5 1 16 92 209 345 6 7 5 2 53
102 255 148 300 59 96 112 146 51 34.5 64.0 260 37.0 100.0 172 27 71 64 49 106.0
6.57% 0.50% Div. Annual Close High Low P/E Yield 3.8% 0.0% 0.0% 2.5% 1.7% 1.8% 2.4% 2.0% 0.0% 2.0%
1,220 510 800 680 920 285 480 900 590 326.42
1,040 425 700 600 790 236 410 720 530 314.20
15.26 36.98 1240.61 18.34 32.63 26.31 12.83 26.75 128.53 19.37
106 260 150 305 60 230 102 114 96 148 52 35.5 69.0 280 61 37.5 226.0 102.0 73.0 176 295 30 65 54 50 108.0
0.0% 0.0% 0.0% 0.0% 6.6% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2.2% 0.0% 0.0% 0.0% 0.0% 0.0% 4.0% 3 9% 3.9% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2.4%
112 285 67 182 345 18.5 69 25.0 130 36.0 230 122 120 102 52 35.5 148 65 35 71 44.0 48.5 70.0 26.0 280 65 39 51 47.5 104 270.0 130.0 25.0 33.5 96.0 29.0 190 310 114 32 89 73 60 59 64 42.5 140.0 85.99
104 255 40 144 295 11.5 50 25.0 130 21.0 230 99 102 50 52 24.0 106 47 21 71 28.5 48.5 64.0 26.0 242 51 36 51 26.0 61 99.0 19.5 19.0 16.0 38.0 29.0 154 255 114 26 58 50 51 47 64 42.5 106.0 74.96
16.16 9.83 0.00
300 500 510 148 43.0
6.7% 3.8% 5.0% 3.7% 0.0% 0.0% 0.0% 4.7%
325 610 540 148 220 134 40.5 44.91
280 520 450 102 220 102 40.5 42.22
106 280 52 150 305 13.0 60 25.0 130 25.0 230 100 112 102 52 26.0 146 52 26.5 71 34.5 48.5 64 26.0 270 65 38.5 51 38.5 100 236.0 106.0 22.0 22.5 78.0 29.0 178.0 285 114 28.00 75 65 54 51 64 42.50 110 81.48
-2 Ex-D -2 2 2 -1 1 1.010.04.05.04.0-1 -2 -2 -4 0.90-
60,000 30,000 2,460,000 240,000 7,760,000 540,000 60,000 5,280,000 3,600,000 480,000 40,000 1,680,000 3,440,000 10,320,000 33,720,000 120,000 560,000 200,000 160,000 2,140,000 72,890,000
6,240 7,800 368,640 72,250 471,640 53,200 6,720 771,000 186,440 16,760 2,560 63,360 793,560 1,067,000 2,543,240 20,920 35,960 10,440 7,880 228,600 6,734,210
300 520 500 134 220 122 40.50 43.48
300 520 500 148 220 122 40.50 43.82
Ex-D Ex-D Ex-D Ex-D 0.34-
10,000 20,000 30,000
1 1 2
5,000 2,680 7,680
255 500 30.0
55 110 124 234 32.5 234 118 91 35.5 110 95 990 74 15.0 63.0 95 57 66 74 36.0 85 19.0 87 17.5 41.5 69 75 160 40.5 28.5 38.5 17.5 21.0 134 134 220 53 340 57.51
0.5-20 2 0.52.0-2 -1 -2 1 2.0 0.5Ex-D 0.37-
2,600,000 100,000 260,000 480,000 880,000 265,000 160,000 7,120,000 3,040,000 2,360,000 280,000 160,000 80,000 280,000 7,440,000 8,880,000 440,000 27,200,000 1,520,000 3,840,000 160,000 120,000 2,370,000 70,035,000
23 4 9 6 19 20 3 52 45 17 7 4 1 3 72 77 5 191 15 39 2 3 65 682
143,000 11,040 60,320 16,960 84,200 258,800 12,000 104,600 188,080 222,480 15,480 10,440 2,880 23,680 144,400 376,160 30,360 1,121,680 60,800 80,360 5,000 6,400 819,050 3,798,170
54 110 122 232 228 108 87 35.0 97 95 970 74 14.5 60.0 94 54 64 74 34.0 82 18.5 87 41.5 70 41.0 39.5 20.5 31 52 335
55 112 124 236 234 35.5 96 980 76 15.0 61.0 95 55 66 79 37.5 84 19.0 89 42.0 68 76 170 41.5 40.5 21.0 130 32 54 340
55 110 124 232 32.5 234 118 91 35.0 110 95 970 76 14.5 61.0 95 55 65 74 36.0 83 19.0 87 17.5 41.5 69 75 160 41.5 28.5 40.5 17.5 20.5 134 134 220 53 340 57.14
0.0% 4.5% 0.0% 6.5% 0.0% 3.4% 0.0% 7.7% 0.0% 6.4% 0.0% 1.0% 0.0% 0.0% 0.0% 5.3% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 6.7% 6.3% 0.0% 0.0% 0.0% 0.0% 0.0% 3.7% 0.0% 0.0% 0.0% 0.0% 1.0%
63 118 152 246 37.5 250 130 100 52.0 120 104 1,080 85 20.0 67.0 97 75 73 90 38.0 92 23.0 91 17.5 45.0 70 80 174 52.0 39.5 40.5 28.5 25.5 134 34 220 70 480 57.93
47 97 108 200 32.5 224 114 77 27.0 108 94 840 62 11.0 35.0 77 55 52 74 33.0 59 13.5 87 17.5 31.0 57 64 116 27.5 22.0 25.0 17.5 15.0 134 31 220 49 270 49.06
ŷ ź ŷ ŷ ŷ ź ź ź ŷ ź ź
224 118 450 122 1,260 290 134 880 216 112 350
224 120 450 122 1,260 295 140 890 216 116 360
-2 -5 -6 -10 -4 -10
1,300,000 300,000 5,000 80,000 40,000 180,000 20,000 10,000
28 10 1 8 2 16 1 1
292,040 35,640 6,300 23,350 5,400 158,700 2,240 3,500
224 118 440 122 1,240 285 132 870 110 340
226 120 455 132 1,260 290 144 880 116 355
0.0% 0.0% 3.3% 0.0% 5.8% 3.4% 0.0% 7.4% 0.0% 0.0% 0.0%
260 136 470 158 1,480 345 222 920 216 120 495
214 116 415 122 1,260 290 134 660 180 102 315
ŷ ź ŷ ŷ ŷ ŷ ŷ ŷ ŷ Ÿ ŷ ŷ ŷ ŷ Ÿ ź ŷ ŷ Ÿ ŷ ŷ ŷ ŷ ŷ ŷ ŷ ź ŷ ź ź ŷ ŷ ź ŷ ź ŷ ŷ ŷ ŷ ź ź ź ŷ ŷ ź
ŷ ŷ ź
55 110 232 35.0 95 970 74 14.5 61.0 94 55 65 36.0 83 19.0 40.5 69 40.0 39.5 20.5 31 53 335
1060 430 790 610 870 275 420 740 590 318.22
-21.30 6,217.30 Trading Activity Tran. Value(KD) Volume
104 260 52 148 305 13.0 60 25.0 130 25.0 230 102 112 102 52 26.0 148 51 26.5 71 35.0 48.5 64 26.0 270 65 38.5 51 37.5 100 226.0 102.0 22.0 22.5 73.0 29.0 174 285 114 28.00 75 64 52 49 64 42.50 106 80.58
500 134 -
Global Index - Insurance Kuwait R.E. United R.E. National R.E. Salhia R.E. Pearl R.E. Tamdeen R.E. Ajial R.E. Massaleh R.E. Arab R.E. Union R.E. ERESCO Mabani INJAZZAT RE Inv. Holding Grp Int'L Resorts Commercial R.E Sanam R.E. Aa'yan R.E Aqar Kuwait R.E Holding AL Mazaya Al Dar National R.E Themar Int'L Holding Grand R.E Projects Tijara & R.E Invest Al Tameer Arkan Al-Kuwait R.E Al Argan Int'L Abyaar Munshaat First Dubai KBT Manazel REAM Mena Real Estate Al Moudon Intl. R.E Markaz Real Estate Kuwait Remal R.E
ŷ Ÿ ŷ ŷ Ÿ ŷ ź ź ŷ
6,196.00 Last Prev. Close Close
ŷ ŷ ŷ ź ŷ ŷ ŷ ŷ ź ŷ ŷ ź Ÿ ź ź ŷ ź ź ŷ ŷ ź ŷ ŷ ŷ ŷ ŷ ŷ ŷ Ÿ ŷ Ÿ ŷ ź ŷ ŷ ŷ ŷ
13.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 46.63 0.00 0.00 0.00 67.72 0.00 0.00 0.00 0.00 13.40 0.00 0.00 0.00 17.37 22 52 22.52 16.18 573.07
0.00 0.00 5.29 13.81 13.38 13.67 11.92 21.80 63.13 64711.96 13.38
49.42 12.93 16.19 0.00 22.83 9.61 15.16 23.87 28.53 0.00 16.56 381.40
105.54 0.00 13.74 8.00 178.97 0.00 0.00 26.88 439.41 0.00 0.00 19.06
20.11 7.29 13.08 16.78 31.52 12.59
MTD YTD 2.3% 224 196 27.06 222 ŷ 0.0% 102 79 32.75 80 źŷ -1.55% -1.55% 289,750 630 630 465,000 11 Boubyan Petroch. 630 620 0.0% 630 550 89.84 630 620 ŷ ź -1.50% 5,726.90 5,754.20 -27.30 -0.47% -1.50% KSE Price Index 1,100 1,100 Gulf Glass 1,400 1,100 17.40 3.6% - ŷ Last Prev. Trading Activity 216 - Last - Last226 Div. 216 HilalCompany Cement 216 Close 206 12.38 6.9% Annual - ŷ Close High415 Low340 P/E 9.94 Chng - Volume -Tran. - Value(KD) - Bid - Ask 415 415 Al Kout Ind. Project High - Low - ŷ Close - Yield 8.4% 275 275 3,796,050 - 1,120 1,140 - 1,120 - ŷŷ - 1120 1120 69 3,377,500 K-PAK Bank 300 1,100 275 5.20 300 3.6% 0.0% 255 National 1,140 1,120 14.74 20 495 495 830,000 407,950 490 - ŷ Gulf BankMaterial 495 490 495 - 0.0% 510 490 33.95 224 Ex-D 224 Building 228 224 35.32 2.2% 770 770 10,000 1 7,700 Commercial Bank 770 770 770 780 790 770 88.62 ŷ 305 5 70,000 300 2 21,350 Nat. Ind.Co. 325 260 24.93 3.3% 305 305 Ÿ 305 310 1.9% 640 -20 6 2 6,400 660 10,000 640 Ahli Bank 640 640 660 660 64051 17.34 968,040 130 124 7,500,000 174 Equipment Holding 126 źŸ 130 130 132 3.1% 0.0% 132 800 50 850 350,000 23 282,700 Ahli United Bank 850 840 850 - 1.6% 85033 79033 29.68 800 - Ÿŷ 33 33 Mena Holding 0.00 0.0% 16 248 248 - 700,000 173,600 248 - ŷŷ International Bank 246 248 - 0.0% 255 24893 23.59 248 102 102 Consumer Industries 102 0.0% 460 465 5 500,000 10 229,750 460 460 465 0.0% 475 460 12.26 Burgan Bank 455 ź 128 128 Ex-D Kuwait Gypsum 128 128 18.88 5.5% 890 -10-2 880 1,280,000 6618 1,127,050 890 880 Kw Finance House 880 900 880 25.07 870 214 216 1,940,000 415,240 216 214 źź Qurain 222 210 13.03 214 2.3% 0.0% 212 590 590 607,850 - 1,035,000 33 580 - ŷ Boubyan Bank 590 - 0.0% 590 580 59051 59041 112.24 44 44 Salbookh Trading 0.00 0.0% ŷ 319.54 8,092,500 6,639,050 18.61 0.17- Global 194 40,000 240 2 7,760 194 IKARUSIndex - Banking194 194 źŷ 319.37 192 214 318.41 162 17.30 198 2.0% 4.1% 319.54 75 80,000 76 6,000 0.0% 106 106 Boubyan Int'L Ind. 75 -1 --1 75 Kw Investment 10273 10676 0.0% 10688 10670 40.56 - ŷź 260 265 -5 250,000 14 65,750 265 260 265 8.5% 265 260 12.09 260 źź Commercial Facilit. 166.55 166.94 0.3912,270,000 281 2,254,510 174.76 163.04 13.70 2.8% Global Index - Industrial
41 40 ź Int'L Financial Adv. NationalInvest. Cinema 174 National 170 - źŷ KwProjects Hotels 300 - Ÿŷ Kw 300 395 ŷŷ Agility 400 12.5 Ahlia Holding 13.5 Market Complexes Coast Invest. 53 52 - źŷ ZAIN -730 -710 ŷź Int'L Investor 73.0 72.0 Safat Energy Securities House - ŷź Educational - ŷŷ Ind. & Fin. Inv.Group Indep. Petroleum -Securities Group - - ŷŷ Int'L Finance - ŷŷ National Cleaning 156 152 110 MARKAZ 108 108 Sultan Center 104 ŷź KMIFIC - ŷŷ 108 Arabi Group 108 Int'L Group CityInv. Group - ŷŷ Aref Inv. Group - ŷŷ 2,280 2,260 Wataniya Tele. Investment Dar - ŷź 118 Kw Gulf Link 114 Al AMAN Inv. - ŷŷ Kw Cable Vision ALOLA Inv. System 110 108 - ŷŷ Automated ALMAL Inv. 50 49 ź NAPESCO - ŷ Gulf Inv. House - ŷ KCPC 300 295 ź - ŷ A'ayan Leasing K.S.H - ŷ 31.0 ŷ 32.5 Bayan Inv. Eyas - ŷŷ GLOBAL Inv. Hits Telecom -114 -102 ŷź Osoul Inv. Al Safwa Holding 18.0 17.5 ź GULFINVEST ŷ - ŷŷ Human Soft KFIC 74 Privatization Holding 75 KAMCO - ŷŷ Nafaaes Holding Int'l Leasing & Inv. -- - ŷŷ National Slaughter - - ŷŷ Nat. Int'l Holding -118 124 Aref energy - ŷź Housing Finance MADAR -- - ŷŷ Safwan 26.5 Al Deera Holding 69.0 ŷź 74.0 26.5 Gulf Petroleum Al Safat Inv. - ŷŸ 24.0 Gulf Franchising 25.0 122.0 - 114.0 - Ÿŷ Al Salam Credit & Group Collection 41.0 Ekttitab Holding 19.5 źź 20.0 39.0 National Ranges Al QurainWell Holding - ŷŷ Burgan Drilling 16.5 - 16.5 - ŷŷ Sokouk Holding IFA H&R Al-Madina Finance 40.0 1,680 38.5 1,680 źź Combinted Group NOOR - 87 - 86 ŷŸ Jeeran Holding Tamdeen Inv. 160 158 ź 114 114 ŷ Palms Agro KW BH Int'l Exch. - ŷ 71.0 ź 71.0 Safat TEC Taiba Kuwaiti Holding - ŷ - ŷ Mushrif Trading Kuwait Syrian - ŷ UPAC -Strategia - - ŷŷ ALAFCO 290 295 53 53 ŷŷ Kuwait China Inv. Al-Muwasat -- - ŷŷ Manafae Inv. Mashaer 300 295 Gulf NorthHolding Africa - ŷŸ Oula Fuel 265 265 Amwal - ŷź - ŷŷ Future Al MasarComm. 102 Hayat Comm. 104 124 źź Al-Imtiaz 132
61 Mubarrad Transport Global Index - Investment
48.0 385 470 112 -106 -290 82 Al Nawadi Global Index - Insurance Alrai Media 122 Kuwait R.E. 48 Zima Holding Kuwait Resorts
Kuwait Insurance Advanced Technolgy Gulf Insurance Yiaco Medical Ahlia Insurance Al Jazeera Airways Warba Insurance Al Soor Fuel Kuwait Re-Ins. Future Kid First Takaful Ins. K G L Insurance Wethaq
61 48.0 385 455 108 -106 -285 77 120 48 -
źź ź ŷ ŷ ŷ Ÿ ŷ źŸ ŷ Ÿ ŷ ŷ ŷ źŸ ŷ ź ŷ 100 Ÿ 118 Ÿź 200 - źŷ - 93 ŷź 224 - źŷ - ŷŷ 1,360 - - ŷŷ 30.0 - źŷ - ŷ ź 96 ź 840 - Ÿ 74 88 Ÿź 11.5 70 źź - ŷŷ 77 ŸŸ 126 65 112 źŷ 53 - źŷ - - ŷŷ - ŷ 59 ź 55.0 ź 14.0 ź 66 - ŷŸ
United R.E. 100 Global R.E. Index - Services National 126 Salhia R.E. Trans. 204 LiveStock Pearl - 94 DanaR.E. Al-Safat 224 Tamdeen R.E. United Poultry Ajial R.E. 1,360 Kw FoodStuff Massaleh R.E. -United Food Arab 30.0 KoutR.E. Food Union R.E. Global Index - Food 98 ERESCO Sharjah Cement 860 Mabani 75 INJAZZAT RE 93 Gulf Cement Inv. 71 UmHolding QuwainGrp Cement 12.0 Int'L Resorts Fujaira Cement 78 Commercial R.E Ras AlKheimah 126 70 Sanam ARIG R.E. 112 54 Aa'yan UnitedR.E Gulf Bank -Aqar Egypt Kw Holding Kuwait R.E Holding Bahrain Kw Ins. AL Mazaya 60 Gulf Fin. House 57.0 Al Dar National R.E 14.0 Inovest Int'L Holding 69 Themar Ahli United Bank -168 Grand R.E Projects -170 Ithmaar Bank 27.5 -26.5 Tijara & R.E Invest Al Tameer Global Index - Non-Kuwaiti Arkan Al-Kuwait R.E 70 70 Markaz Real Estate Safat Global Investment Al Argan Int'L Funds 28.5 28.0 Abyaar Al-Bareeq Holding 23.5 - 23.5 Munshaat AFAQ First Dubai 26.0 - 25.5 Al-Shamel KBT 27.0 Al-Safat Real Estate 27.0 Manazel 16.5 - 15.5 Ajwan Real Estate REAM Specialities Group 440 455 Mena Real Estate Masaken Inter. Al Moudon Intl. R.E Dulaqan R.E Markaz Real Estate 57 56 Eid Food Kuwait Remal R.E 295 285
Global Index - Real Estate Flex -
Nationl Ind. Group 232 Dar Al-Thuraya Real E 242 Pipes Ind. & Oil 126 Kw Medical Services 128 Kuwait Cement 455 450 Amar For Fin. & Leas. Refrigeration Ind. Total Parallel Market 1,420 1,420 Gulf Cables & Elec. Heavy & Ship. Totaleng. Market Marine Services 720 Portland 720 Global Cement Special Indices Shuaiba GlobalIndustrial Index - Kuwaiti Co.'s 104 Metal Collecting 110 Cap. Global Index - 10 Large Kuwait Foundry -
Global Index - Islamic
40 960 170 280 300 400 12.5 52 52 720 25.0 73.0 130 110 31.0 350 230 102 156 108 104 50 108 44.0 550 52 2,280 74 114 28.5 58 108 300 49 355 23 295 71 255 31.0 260 48.5 106 68 17.5 20.5 270 26.0 75 244 84 94 154 51 118 36 600 51 26.5 70.0 75 25.0 120.0 120 39.5 20.0 19.0 260 16.5 400 38.5 1,680 29.0 86 158 114 255 71.0 114 86 26.00 340 68 295 53 168 60 300 46.5 265 64 285 42.50 102 128 61 75.90
41 960 172 280 295 400 12.5 52 53 730 25.0 75.0 130 110 31.0 350 230 102 156 112 106 50 108 44.0 550 52 2,280 74 118 28.5 58 108 300 49.5 355 23 300 71 255 31.0 260 48.5 112 68 18.0 20.5 270 26.0 75 244 84 94 154 51 120 36 600 51 26.5 74.0 75 24.0 112.0 120 41.5 20.5 19.0 260 16.5 400 39.0 1,700 29.0 83 160 114 255 72.0 114 86 26.00 340 68 295 53 168 60 295 46.5 275 64 285 42.50 104 130 62 76.02
325 770 560 385 485 470 110 242 220 106 114 290 40.50 82 43.43
325 770 560 370 485 455 118 242 220 98 114 290 40.50 81 43.63
122 48 98 100 724.39 124
122 49 98 99 729.78 120
-1 -2 5 -
1,680,000 1,040,000 110,000 1,400,000 7,040,000 1,280,000 490,000 1,520,000 - - 1,560,000 680,000 320,000 100,000 - 10,000 1,600,000 - 500,000 320,000 70,000 1,840,000 - 62,320,000 2,480,000 - 1,720,000 - - 700,000 - 240,000 6,800,000 160,000 11,180,000 1,920,000 43,280,000 - 480,000 10,640,000 50,000 160,000 80,000 20,000 280,000 - 400,000 200,000 - 550,000 10,000 - 1,000,000 1,240,000 200,000 40,720,000
13 20 5 4644 22 31 19 - - 30 1816 -5 - -4 37 - 14 4 5 22 - 542 29 - 25 - - 25 - 2 117 -2 212 24 183 - 5 93 4 -4 4 1 3 - 221 - 15 -1 - 3837 558 5
-1 - -10 2.0-----2 - - --4 - -1 -5 - -6 1 - - - --2 - - 4.01.0 8.0 2.00.50.5-20 3 2.01.0--- - -5 -10 - -2.02 -1 0.121 0.580,000 15 20,000 -1 5 15 50,000 -8 120,000 6 Ex-D - - 60,000 -8 -2 27 490,000 - 80,000 1 0.19120,000 62 2 40,000 1 -1 80,000 9 1 920,000 1,245 5.39128,020,000 4 105 3,100,000 12 -4 520,000 --2 10 400,000 3 10.0- 100,000 - 92,500 11 - - - 1 80,000 0.5- 492,500 21 0.28-
ŷ ŷ ŷ ŷ ŷ ź ź ŷ ŷ ŷ źŷ źŷ ź ŷ ŷ źŷ ŷ ź ŷ ŷ ŷ ŷ ź ŷ Ÿ ŷ ź
200 184 37.5 93 224 136 120 1,360 82 340 30.0 580 108 335.27 97 85 860 75 88 11.5 70 38.0 90 78 126 65 112 54 178 90 280 38.0 455 59 56.0 14.0 69 91 170 17.5 27.0 31.0 59 41.87 70 122 48.5 124 28.0 144 23.5 106 25.5 250 27.0 22.0 15.5 32 134 450 134 51 220 345 57 106 295 2,260 49.73
204 184 37.5 95 234 136 120 1,360 82 340 30.5 580 108 335.56 98 85 850 73 93 12.0 72 38.0 90 77 124 70 112 55 178 90 280 38.0 455 63 57.0 14.5 67 91 170 17.5 31.027.0 59 41.99 74 122 48.5 124 28.5 144 24.5 106 26.0 250 27.0 22.0 16.5 32 134 455 134 51 220 345 58 106 290 2,260 49.75
źŷ ŷ ŷ ź ŷ ŷ ź ŷ ŷ ŷ ŷ ź ŷ
232 88.0 128 65 450 55 150 1,420 335 212 720 180 ź 104 ź 460
242 -10 13,220,000 - 154 88.0 128 - 140,000 6 65 470 -20 50,000 2 55 150 80,000 1,460 -40 2,500 16 335 - 328,705,0003,832 212 Prev Close Prev. 720 Close 230,000 19 180 186.93 187.68 106 181.69-2 80,000 182.283 460 -
320,000 8 1,935,000 57 272 120,000 5,240,000 1518 2,000,000 1,360,000 - - 31 240,000 20,000 17 1,000,000 100,000 1 4 200,000 - - - - 11 440,000 12,840,000 107 1 80,000 0.52 129 13,360,000 80,000 -3 7,040,000 -58 40,040,000 389 0.11-4 320,000 2 - - 12 0.5- 2,720,000 1.0- 80,000 1 0.5240,000 3 Ex-D 35,040,000 - 4 1,200,000 8 1.0- - -5 80,000 6 -1 240,000 6 47 5 2,110,000 0.0253,085,000 332
Ex-D 10 2-5 0.5-2 12 -5 -1 - Ex-D -4 -1
67,160 40 960 177,720 168 33,000 295 558,950 390 90,920 12.5 67,280 51 352,400 - 710 110,760 73.0 - - - 239,640 154 73,920 106 34,040 104 10,800 106 - 22,750 2,240 187,080 114 - 27.0 54,920 108 290 15,840 49 21 20,700 290 58,760 31.0 - 6,774,680 104 64.0 43,920 -17.5 - 128,120 -74 - - - - 83,960 118 - - 6,360 26.0 482,800 69.0 3,920 22.0 1,305,280 - 118.0 77,080 -19.5 859,760 - 18.0 7,920 16.0 375 419,440 38.5 84,000 1,680 - 85 13,880 12,680 156 2,280 112 19,880 70.0 83 315 - 63 117,300 295 10,600 52 - - 162,300 295 2,650 265 - 102,240 124.0 102 157,920 12,200 60 2,702,550
3,840 7,700 22,950 13,200 - 6,360 141,750 6,360 13,200 4,840 3,840 92,000 10,624,810 383,920
104,680 37,440 22,400 125,800 - 2,400 163,240 31,160 1,656,950 8,960 475,320 23,960 95,640 - 18,520 2,520 67,400 11,200 10,720 - - 26,160 720,360 1,120 910,080 13,560 190,120 2,418,800 22,400 - 76,880 1,880 6,160 946,080 19,240 36,050 13,520 610,850 4,151,200
300 510 350 460 450 108 236 - - 285
78 112 48 -
99 122 200 - 92 - 110 1,340 - - 540 112 95 860 71 11.5 35.569 77 124 53 102 176 - 280 13.5 9055 - 68 168.0 30.0 70 116 28.0 23.5 25.0 24.5 15.531 435 29 218 55 80 290
3,111,120 -17,800 122 22,550 455 50 150 36,050 1,420 3,550 310 29,242,170 Change 710 165,600 178 -0.75 8,480 -0.59 104 435
4.4% 1,000 172 0.0% 270 6.7% 0.0% 300 400 0.0% 7.5% 13.0 0.0% 52 - 0.0% 9.0% - 720 0.0% 0.0% 74.0 0.0% 0.0% 33.5 - 0.0% 355 0.0% 0.0% 0.0% 156 3.2% 110 106 9.3% 0.0% 0.0% 108 0.0% - 540 0.0% 0.0% 0.0% 2,300 2.2% 0.0% 116 0.0% 29.556 0.0% 0.0% 110 8.3% 325 0.0% 50 7.0% - 0.0% 24 0.0% 295 3.4% 0.0% 7.1% 32.5 0.0% 7.7% 0.0% 0.0% - 106 0.0% 18.0 0.0% 0.0% - 0.0% 0.0% 75 6.7% 238 0.0% 0.0% -88 0.0% 184 0.0% 0.0% 54 120 0.0% 0.0% 0.0% 600 4.5% 27.0 70.0 0.0% 0.0% 0.0% 25.0 0.0% 120.0 130 0.0% 0.0% 39.0 20.0 0.0% 0.0% 20.0 260 0.0% 0.0% 16.5 0.0% 405 0.0% 39.0 4.2% 1,700 0.0% % - 86 0.0% 0.0% 3.8% 160 116 8.8% 270 5.1% 0.0% 72.0 0.0% 0.0% 86 0.0% 27 8 8% 355 8.8% 73 0.0% 3.4% 300 0.0% 53 178 6.0% 61 0.0% 300 10.8% 4.3% 47 270 0.0% 0.0% 69 0.0% - 265 0.0% 104 0.0% 128.0 0.0% 61 2.4% 0.0% 49.0 0.0% 325 6.2% 750 1.9% 610 4.5% 3.9% 385 5.2% 500 465 9.1% 0.0% 114 240 0.0% 2.7% 4.7% 0.0% 110 290 0.0% 6.9% 43.0 84 4.7% 8.5% 124 0.0% 49 106 0.0% 0.0% 100 0.0% 12.5% 126 0.0% 202 - 10.0% 0.0% 37.594 0.0% 0.0% 224 - 4.5% 3.7% 130 1,360 0.0% 4.8% 6.1% 85 315 1.5% 31.5 5.2% 600 0.0% 6.5% 118 4.2% 0.0% 98 0.0% 87080 0.0% 7680 0.0% 0.0% 12.088 0.0% 10.0% 37.070 0.0% 0.0% 7990 0.0% 7.9% 65 128 0.0% 0.0% 54 118 0.0% 0.0% 91 184 0.0% 7.1% 40.5 300 0.0% 5.5% 60 0.0% 0.0% 14.5 0.0% 0.0% 9457 5.5% 69 7.1% 0.0% 170.0 0.0% 0.0% 33.5 57 0.0% 4.3% 74 0.0% 0.0% 126 0.0% 28.5 - 0.0% 0.0% 25.0 - 0.0% 4.7% 25.5 - 0.0% 6.0% 28.0 0.0% 23.0 0.0% 16.033 0.0% 0.0% 130 6.3% 450 3.7% 0.0% 32 50 0.0% 0.0% 320 0.0% 57 0.0% 90 0.0% 0.0% 295 0.0% 1.1%
232 92.0 13070 46560 1,440 340 216 DTD 720 190 -0.40% 108 -0.32% -
0.0% 0.0% 0.0% 0.0% 2.2% 0.0% 3.3% 0.6% 4.6% 3.0% 4.78% 2.4% 13.9% 5.6% 0.0% 4.3%
42 40 910 1,120 174 170 280 280 305 295 430 340 13.5 12.5 5465 5241 900 690 25.0 25.0 81.0 45.0 130 130 110 110 36.0 31.0 295 350 230 230 102 102 156 110 116 108 102 136 50 5084 110 44.0 44.0 530 550 52 52 1,920 2,280 74 7495 126 28.568 28.558 112 108 230 350 51 49 340 395 23 22 260 305 71 71 255 260 31.5 31.0 260 260 48.5 48.5 132 68.0 68.054 14.0 23.5 20.5 20.5 270 280 26.0 26.0 24484 24461 104 94 9484 154 154 51 51 120 36 3691 51 51 520 710 26.5 27.5 30.0 78.0 75 75 16.0 28.5 99.0 120.0 120 140 19.5 41.5 20.5 12.0 19.0 19.0 275 198 17.0 16.5 490 380 39.0 38.0 1,740 1,500 29.073 29.089 156 162 124 86 255 255 78.0 57.0 114 114 104 80 26 28 340 270 68 68 280 315 53 55 130 168 60 60 172 305 47 47 305 265 64 64 300 265 42.5 42.5 108 132.0 128.070 76.32 72 75.90 51
325 325 770 640 560 560 345 390 520 485 410 485 118 110 270 236 220 220 114 134 11498 300 218 40.5 40.5 44.80 92 43.43 77
156 49 110 100 791.90 128
114 4894 99 705.36 120
200 208 182 222 37.5 37.590 114 234 224 126 136 130 120 1,360 1,500 82 82 340 390 30.5 30.0 500 610 108 108 365.22 335.27 100 96 86095 84044 76 7355 108 12.573 11.543 38.0 38.0 122 46 78 77 126 118 75 65 132 102 54 55 232 172 90 90 330 250 38.0 38.0 455 455 63 59 74.0 40.5 14.5 14.0 91 91 17.5 17.5 31.0 31.0 59 59 47.16 40.74 78 70 1,220 1,220 48.5 48.5 144 124 29.0 28.0 24.5 23.5 26.0 25.5 28.5 27.0 16.5 15.5 134 134 32 32 220 220 57 60 295 270 49.86 49.73
232 260 130 128 470 450 158 150 1,460 1,420 340 335 212 222 MTD 710 740 180 180 -3.23% 104 116 -4.52% 460 460
18.02 88.93 12.13 15.48 1.33 0.00
10.85 0.00 58.86 0.00 19.93 0.00 9.12 0.00 0.00 11.90 0.00 0.00 0.00 22.18
8.75 10.08 12.82 4.79 349.35 32.31 0.00
0.00 9.95 116.80 0.00 0.00 14.57
0.00 42.66 87.26 15.98 0.00 5.71 8.28 13.22
12 34 12.34 43.00
3.86 7.71 10.67 21.52 20.02 0.00
16.97 31.91 12.90 12.62 9.91 9.80 17.37 17.80 296.83
14.64 8.87 7.12 12.60 22.69
37.20 12.83 11.06 22.21 17.83 15.27 16.20 6.02
10.40 15.28 11.40 39.65 21.70
0.00 32.52 14.56 11.30 26.32 387.72
6.24 0.00 531.96 4.15
11.37 0.00 5.38 27.28
5.03 13.99 23.07 14.45 18.82 816.78 0.00 9.98 0.00 16.27
13.19 6.49 8.02 14.51 193.84 YTD 96.15 10.91 -1.38% 23.15 -4.42% 26.77
STOCKS WITH NBK CAPITAL
ALWATAN DAILY tuesday, april 17, 2012
April 21, 2009 April 16, 2012
1% 6% Oman
Bahrain Abu Dhabi Bahrain
GCC Best Performers
95 16-Jan-12 85
MENA Best Performers
S&P Pan3-Feb-09 Arab Large/18-Feb-09 Mid Composite GCC Large/ Mid Composite 19-Jan-09 5-Mar-09S&P20-Mar-09 4-Apr-09 19-Apr-0
MENA Indices Highlights Country (Index)
Sa Saudi Arabia (Tadawul All Share Index) Country (Index)
Index 7,278 Level
UASa UAE (ADX Index) Saudi Arabia (Tadawul All Share Index)
QaUAUAE Qatar (DSM Index) (ADSM Index)
Ku Kuwait (KSE Weighted Index)
UAE (DFM(KSE Index) Ku Kuwait Weighted Index)
OmOman UAE(MSM (DFMIndex) Index)
BaQa Bahrain Qatar (BSE (DSMIndex) Index)
Jo Jordan (Amman General Index)
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)
Tu TunisiaClosed (Tunis SE Index)* * Market
52 Wk High
5.1% 0.4% -
MENA Worst Performers
SAUDI ARABIA *Market Closed
FACCommercial Facilities Co.
225 Saudi Industrial Inv. Grp.
101 Riyad Bank
703 Zain - Saudi Arabia (KSA)
430 Dar Al Arkan Real Estate Dev. Co. (KSA)
201 Basic Industries Corp. (KSA) 422Saudi Emaar the Economic City (KSA)
115 201Alinma Saudi Bank Basic(KSA) Industries Corp. (KSA)
NBKNational Bank of Kuwait (KUW)
Market Cap. (SAR '000)
MENA Highest Turnover
115 Alinma Bank (KSA)
88,742,222 64,280,166 Close
4190.SSE Jarir Marketing Co.
7,931 / 5,916 7020.SSE Etihad Etisalat Co.
Tadawul Index 52 week High / Low
Turnover (SAR '000)
AED48.00 0.265 SAR
GCC Highest Turnover
SAR 11.80 SAR 22.95
78% 1090.SSE Samba Financial Grp.
% of stocks trading above 1yr avg. price
QAR 71.00 -13.1% -6.0% KWD 0.265
Tadawul Index (% Chg.)
KWD 0.260% Chg. -7.1% Close
EMAEmaar Properties (UAE) Best Performers
KFI Kuwait Finance House (KUW)
0.88 201 ###Saudi OulaBasic Fuel Marketing Co. 1.74 Industries Corp.
GCC Worst Performers
1.91 FAC QNCommercial Qatar Navigation 1.37 Facilities Co. 1.61 422 EmaarPetrochem. the Economic City 0.88 238 Rabigh
1,407 12,627 5,628
QGTQatar Gas Transport Co.
KWD 0.102 QAR 6.35
DH Doha Bank
Mkt.375,332 Cap. USD million
SAR 54.00 OMR 0.703
IFC International Finance Co. KCB Al Khaliji Commercial Bank
-0.9% 1.9% -
Turnover 3,089 USD million
KWD5.60 0.470 SAR
109Galfar Samba Financial Grp. GEC Engineering & Contracting
Mkt. Cap. USD million
525,916 Wk Low
Turnover USD million
52 Wk 7,931 High
52 Wk Low
AED 1.20% Chg. 6.2% Close
Airways JAZJazeera 3 428 Kingdom Hldg. Co.
Period's Liquidity Ratio (PLR x)*
MENA Indices Highlights
4 GC Gulf Cement Co.
Period's Liquidity 1 Ratio (PLR x)
Tunisia Abu Dhabi
Return DailyDaily Return (%)(%)
DailyIndex Index Performance Snapshot Daily Performance Snapshot
Bull/Bear Indicator Bull/Bear Indicator
Rebased RebasedPerformance Performance
1050.SSE Banque Saudi Fransi
2050.SSE Savola Group Co.
Worst Performers Turnover (SAR) 1,293,918,027 4220.SSE Emaar the Economic City 913,365,104 5110.SSE Saudi Electricity Co. 610,618,003 2380.SSE Rabigh Refining & Petrochemical Co. 485,536,217 1040.SSE Saudi Hollandi Bank
1 Alinma Bank
70Zain - Saudi Arabia
43Dar Al Arkan Real Estate Dev. Co.
S&P GCC Large/Mid Composite
42Emaar the Economic City
20Saudi Basic Industries Corp.
4250.SSE Jabal Omar Development Co.
Quotes Company Name 1 Al Rajhi Bank
Daily % Chg. -1.0%
Turnover (SAR '000) 101,530
Volume ('000) 1,345
1 Alinma Bank
1 Arab National Bank
2 Almarai Co.
1 Bank AlBilad
1 Bank Al Jazira
1 Banque Saudi Fransi
4 Emaar the Economic City
4 Dar Al Arkan Real Estate Dev. Co. 7 Etihad Etisalat Co.
4 Jabal Omar Development Co.
1 Samba Financial Grp.
2 Saudi Arabian Fertilizer Co.
1 Saudi Arabian Mining Co.
2 Saudi Basic Industries Corp.
3 Saudi Cement Co.
5 Saudi Electricity Co.
Saudi Hollandi Bank
22 Saudi Industrial Investment Grp.
2 Saudi International Petrochemical Co. 1 Saudi Investment Bank 2 Saudi Kayan Petrochemical Co. 7 Saudi Telecom Co. 2 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
2 Rabigh Refining & Petrochemical Co.
1 Riyad Bank
2 National Industrialization Co.
4 Kingdom Holding Co.
4 Jarir Marketing Co.
1,260 2,560 756
Market Cap. (SAR '000)
STOCKS WITH NBK CAPITAL
ALWATAN DAILY tuesday, april 17, 2012
KUWAIT Rebased Performance
Best Performers 6,196 (-0.3%)
KSE General Index (% Chg.)
KSE Weighted Index (% Chg.)
% of stocks trading above 1yr avg. price
S&P GCC Large/Mid Composite
NICBM.KSENational Industries Co.
Worst Performers Turnover (KWD) 1,227,150
N National Bank of Kuwait
International Finance Co.
Market Cap. (KWD '000)
467 / 396 AGLTY.KSEAgility
KSE Weighted Index 52 week High / Low Turnover (KWD '000)
6,523 / 5,694 GBK.KSE
KSE General Index 52 week High / Low
Close JAZEERA.KJazeera Airways
A Qurain Petrochemicals Industries Co.
K Kuwait Finance House
N National Investments Company
Close FACIL.KSE Commercial Facilities Co.
OULAFUELOula Fuel Marketing Co.
SULTAN.KSSultan Center Food Products Co.
MABANEE. Mabanee Co.
AREFENRGAREF Energy Holding Co.
KSE Weighted Index
Quotes Company Name
Daily % Chg.
T Al Themar Intl. Holding Co.
A AREF Energy Holding Co.
A Al Ahli Bank of Kuwait
A Alafco Aviation Lease and Fin. Co. B Boubyan Bank
B Boubyan Petrochemical Co. B Burgan Bank
K Kuwait Finance House
K Kuwait International Bank
N National Industries Grp. Holding
N National Real Estate Co.
N National Industries Co.
N National Investments Company O Oula Fuel Marketing Co.
A Qurain Petrochemicals Industries Co. S Salhia Real Estate Co.
S Sultan Center Food Products Co. T Tamdeen Real Estate Co.
A The Commercial Real Estate Co. S The Securities House N Wataniya
Z Zain Kuwait
Market Cap. (KWD '000)
N National Bank of Kuwait
M Mena Holding
M Mabanee Co.
K Kuwait Projects Co. (Holding)
P Kuwait Portland Cement Co.
F Kuwait Food Co.
IK Ikarus Petroleum Industries Co.
K KIPCO Asset Management Co.
K Kuwait Cement Co.
C Gulf Cable and Electrical Industries Co.
IF International Finance Co.
IF IFA Hotels & Resorts
G Gulf Bank
C Commercial Bank of Kuwait G Global Investment House
F Commercial Facilities Co.
Turnover (KWD '000)
A Burgan Co. for Well Drilling
C Combined Grp Contracting Co.
UAE Rebased Performance
Best Performers 1,649 (-1.6%)
DFM Index (% Chg.)
ADSM Index (% Chg.)
DFM Index 52 week High / Low
2,775 / 2,293
ADSM Index 52 week High / Low
Turnover (AED '000) 112
D Dubai Financial Market
16-Feb-12 S&P GCC Large/Mid Composite
16-Mar-12 Abu Dhabi SE
Turnover (AED) 37,691,455 DU.DFM du 30,938,249 DEYAAR.D Deyaar Development Co. 28,181,054 ALDAR.AD ALDAR Properties
E Emaar Properties
Market Cap. (AED '000)
64% ARMX.DFM Aramex 0.06 #N/A #N/A 1,754 / 1,301 #N/A #N/A
% of stocks trading above 1yr avg. price
Close GCEM.ADS Gulf Cement Co.
A Arabtec Holding
UNB.ADSM Union National Bank
Quotes Company Name
Daily % Chg.
Turnover (AED '000)
A Abu Dhabi Commercial Bank
T Abu Dhabi National Energy Co.
A Air Arabia
A Abu Dhabi Islamic Bank
A Abu Dhabi National Hotels A ALDAR Properties A Amlak Finance
A Arabtec Holding
A Arkan Building Materials Co.
D Dana Gas
C Commercial Bank of Dubai D Deyaar Development Co. D du
D Dubai Financial Market
D Dubai Islamic Bank
E Emirates NBD
E Emaar Properties E Etisalat
F First Gulf Bank
G Gulf Cement Co. M Mashreq
N National Bank of Abu Dhabi N National Bank of Fujairah
N National Bank of Umm Al Qaiwain S Sharjah Islamic Bank
S Sorouh Real Estate Co.
U United Arab Bank
* Closing Prices, Turnover and Market Cap. in USD
22,047 5,054 -
-13.5% -15.4% -9.9%
Market Cap. (AED '000)
U Union National Bank U Union Properties
STOCKS WITH NBK CAPITAL
ALWATAN DAILY tuesday, april 17, 2012
QATAR Rebased Performance
Best Performers 8,727 (-0.1%)
DSM Index (% Chg.)
DSM 52 week High / Low
50% DHBK.DSMDoha Bank 1.14 CBQK.DSMThe Commercial Bank of Qatar 8,892 / 8,071 AHCS.DSMAamal Co.
Market Cap. (QAR '000)
% of stocks trading above 1yr avg. price Advance/Decline Ratio
Turnover (QAR '000)
IQIndustries Qatar 16-Mar-12
S&P GCC Large/Mid Composite
Q Qatar Gas Transport Co.
IQCD.DSM Industries Qatar
Turnover (QAR) 25,311,748 QNNS.DSMQatar Navigation 15,445,470 VFQS.DSM Vodafone Qatar
Q Qatar National Bank
MMasraf Al Rayan
QNBK.DSMQatar National Bank
B Barwa Real Estate Co.
QEWS.DSMQatar Electricity & Water Co.
QIIK.DSM Qatar International Islamic Bank
MARK.DSMMasraf Al Rayan
Quotes Company Name
A Aamal Co.
Daily % Chg.
C The Commercial Bank of Qatar
E Ezdan Real Estate Co.
D Doha Bank
Q Qatar Electricity & Water Co.
M Masraf Al Rayan
Q Qatar Gas Transport Co.
Q Qatar International Islamic Bank
Q Qatar National Bank
Q Qatar Telecom
Q Qatar Navigation
V Vodafone Qatar
Q Qatar Islamic Bank
Turnover (QAR '000)
K Al Khalij Commercial Bank B Barwa Real Estate Co.
Market Cap. (QAR '000)
OMAN Rebased Performance
Best Performers 5,949 (-0.9%)
MSM Index (% Chg.)
Turnover (OMR '000)
Market Cap (OMR '000)
6,406 / 5,419 NBOB.MSMNational Bank of Oman 5,655 BKMB.MSMBank Muscat
MSM 52 week High / Low
53% RCCI.MSM Raysut Cement Co. 0.17 OTEL.MSMOman Telecommunications Co.
% of stocks trading above 1yr avg. price
Worst Performers Turnover (OMR) 1,255,495 BKDB.MSMBank Dhofar 420,031 OCOI.MSM Oman Cement Co.
B Bank Muscat
R Raysut Cement Co.
R Renaissance Services
S&P GCC Large/Mid Composite
O Oman Cement Co.
N National Bank of Oman
NBOB.MSMNational Bank of Oman
Quotes Company Name
Daily % Chg.
B Bank Dhofar
N National Bank of Oman
O Oman Telecommunications Co.
R Renaissance Services
B Bank Muscat
O Oman Cement Co.
R Raysut Cement Co.
Turnover (OMR '000) 74
Market Cap. (OMR '000)
BAHRAIN Rebased Performance
Best Performers 1,139 (0.1%)
BSE Index (% Chg.)
16% BATELCO.BBahrain Telecommunications Co. 1.00 AUB.BSE Ahli United Bank
% of stocks trading above 1 yr avg. price
Advance/Decline Ratio 112
1,407 / 1,129
BSE 52 week High / Low
Turnover (BHD '000)
Market Cap. (BHD '000)
Turnover (BHD) 10,020 BISB.BSE 9,686 #N/A
IT Ithmaar Bank
S&P GCC Large/Mid Composite
B Bahrain Telecommunications Co.
Bahrain Islamic Bank
A Ahli United Bank 90 16-Jan-12
B Bahrain Islamic Bank
Close Bahrain Islamic Bank
Ahli United Bank
BATELCO.BBahrain Telecommunications Co.
Quotes Company Name
Daily % Chg.
A Ahli United Bank*
A Arab Banking Corp.*
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
Turnover (BHD '000) -
Market Cap. (BHD '000)
1.4 0.4 1.2
Seniors boost your balance A routine that includes a variety of exercises is important to help seniors stay strong. But balance exercises can help reduce the risk of falling and dangerous fractures. The US Centers for Disease Control and Prevention lists these exercises that can help improve balance in seniors: •Practice Tai Chi, a Chinese martial art. •Walk backward, stepping to the side or walking heel to toe. •Practice standing on one foot and holding the position. •Take group exercise classes that focus on balance.
TUESDAY, april 17, 2012
Specific genes linked to big brains, intelligence NEWYORK: Brain size and smarts are, to some extent, genetic - and now, a team of more than 200 researchers has uncovered specific genes that are linked to both brain volume and IQ according to LiveScience. Though sci- entists have suggested bigger brains are “smarter,” this study is the strongest case yet for a genetic connection to brain size and to IQ. Of course, brain size is not 100 percent correlated with a person’s intelligence, and other factors, including connections between brain cells and even a person’s experiences, play roles. “We found fairly unequivocal proof supporting a genetic link to brain function and intelligence. For the first time, we have watertight evidence of how these genes affect the brain,” said lead researcher Paul Thompson, a neurologist at the University of California, Los Angeles, School of Medicine. The international research team pooled brain scans and genetic data from around the world as part of a collaboration known as ENIGMA (Enhancing Neuro Imaging Genetics through Meta-Analysis). They scoured the data for single genes that influence disease risk as well as for genes linked to brain-tissue atrophy and brain size, said lead researcher Paul Thompson, a neurologist at the University of California, Los Angeles, School of Medicine. “Our individual centers couldn’t review enough brain scans to obtain definitive results,” Thompson said in a statement. “By sharing our data with Project ENIGMA, we created a sample large enough to reveal clear patterns in genetic variation and show how these changes physically alter the brain.” The genetics of brain size
With data from 21,151 people, the researchers were able to link specific genes to variations in brain size. Brains shrink naturally with age, but size is important in a number of mental ailments.
Decreased brain volume marks disorders including Alzheimer’s disease, depression and schizophrenia, the researchers report today (April 15) in the journal Nature Genetics. For example, the hippocampus is the part of the brain linked to memory formation and organization. A gene sequence called rs7294919 on chromosome 12 is linked to variations in hippocampus volume: Every instance of a genetic variant called a T-allele in this region was linked to lower hippocampus volume equivalent to 3.9 years of aging. (DNA is made up of four bases A, C, T and G.) This location on the chromosome (a threadlike structure that holds a DNA molecule) occurred between genes associated with the regulation of cell death and with cellular brain development and the cleaning up of proteins, including tau, which becomes defective in Alzheimer’s disease.
Certain genetic regions may be tied to osteoporosis CONNECITUCUT: A large international group of researchers has identified 32 new genetic regions linked to fractures and osteoporosis according to HealthDay News. Variations in these regions could offer protection from, or greater risk for, bone-weakening disease, the investigators reported in a new study published in the April 15 online edition of Nature Genetics. The study authors added that their findings could lead to the development of new osteoporosis drugs. “We’re learning that the genetic architecture of disease is very complex,” one of the study’s authors and the methodological leader of the consortium, Dr. John Ioannidis, chief of the Stanford Prevention Research Center, said in a university news release. The research, which involved 17 studies that compared common genetic variants in more than 100,000 people, pinpointed six regions linked to risk of fractures of the femur (thigh bone) or lower back. The study authors pointed out, however, that it would still be difficult to predict who is at greater risk for bone disease. People with the highest number of variants associated with decreased bone mineral density were only about one and a half times more likely than people with an average number of variants to have osteoporosis. The risk for fractures was only
Size and smarts
Another notable genetic sequence, located within the HMGA2 gene on chromosome 12, was linked with intracranial volume - in other words, the space inside your skull that marks the outer limit as to how big your brain can get. At this spot, every C-allele variant was linked to not only lower intracranial volume, but also to lower IQ scores on the Multidimensional Aptitude Battery, a measure of intelligence. “This is a really exciting discovery: that a single letter change leads to a bigger brain,” said Thompson. Going forward, Thompson said, researchers could start to figure out how to mediate these genes’ influences on the brain. The genes influence brains across a wide subset of people (mostly of European descent) from North America, Europe and Australia. That means that drug therapies targeting these genes could have broad applications. The researchers now plan to tackle the genes that influence the brain’s wiring, hoping to unravel the secrets of connectivity-related disorders such as autism.
slightly higher. Meanwhile, compared to those with the fewest variants, people with the most variants were still just three to four times more likely to have had fractures and lower bone mineral density, the study revealed. “As a result, the next step of incorporating this information into basic patient care is not clear,” Ioannidis concluded. “Each variant conveys a small quantum of risk or benefit. We can’t predict exactly who will or won’t get a fracture.” The authors noted, however, that by identifying some previously unsuspected pathways involved in bone health, their research could lead to the development of new anti-osteoporosis drugs. But even larger studies are needed to identify all of the genes critical to fighting bone disease, they added. “We saw many of these regions and genes clustering within specific types of pathways, which suggests certain disease mechanisms. It certainly wouldn’t be unexpected to eventually identify many more genetic regions involved in the regulation of osteoporosis and fracture risk,” Ioannidis said. “In reality, there may be 500 or more gene variants regulating osteoporosis. To find all of them, we’ll need to study millions of patients. Is this unrealistic? I don’t think so. Sooner or later this will be feasible,” he added.
No ice loss seen in major Himalayan glaciers: Scientists PARIS: One of the world’s biggest glacier regions has so far resisted global warming that has ravaged mountain ice elsewhere, scientists reported on Sunday. For years, experts have debated the state of glaciers that smother nearly 20,000 square kilometers (7,700 sq. miles) of the Karakoram range in the western Himalayas. Straddling parts of China, Pakistan and India, the Karakoram’s peaks include K2, Earth’s second-highest mountain. Its glaciers account for nearly three percent of the world’s area of ice outside the ice sheets of Greenland and Antarctica. In locations around the planet, mountain glaciers are shrinking in response to higher temperatures, contributing importantly to sea-level rise. Yet the situation for the Karakoram has until now been sketchy. Scientists have found it almost impossible to study the glaciers on the ground, for the region lies at great altitude in a border area, and access is hampered by snow avalanches and glacial debris. But a French team, comparing 3-D satellite maps from 2000 and 2008, said the glaciers had not lost mass over this period and may even have grown a tiny bit, at 0.11 millimeters (0.04 of an inch) per year. “Apparently, the situation in the Karakoram is a little different (from elsewhere), which means that the glaciers are stable for the time being,” Julie Gardelle of the University of Grenoble in southeastern France told AFP. “But it does not detract in any way from the evidence for overall global warming,” she cautioned. The paper, published in the journal Nature
Geoscience, is based on satellite scrutiny of 5,615 sq. km. (2,167 sq. miles) of the central Karakoram, between the Yarkant River on the Chinese side of the border and the Indus River on the Pakistani side. The study area lies outside the Siachen glacier, the scene of a military standoff between Pakistan and India, which according to the Sustainable Development Policy Institute in Islamabad has shrunk by 10 kilometers (six miles) in the past 35 years. In a commentary also carried by Nature Geoscience, Graham Cogley of Trent University in Ontario, Canada, said it was unclear why the Karakoram had so far been spared the impact of warming. “It seems that, by a quirk of the atmospheric general circulation that is not understood, more snow is being delivered to the mountain range at present, and less heat,” said Cogley. The health of the Himalayan glaciers is closely watched, for they supply water for more than a billion people in South Asia and China. In February, a US-led study published in Nature found that ice loss from the Himalayas was significant but had been badly over-estimated. It calculated loss of four billion tons a year, compared with previous estimates of up to 50 billion. It said past estimates were based on runoff from lower-altitude glaciers -- which are worse hit by warming than higher-altitude ones -- and on drainage figures from the vast plains south of the Himalayas. Much of this drainage came in fact from water that had been pumped from underground aquifers on the plains, not from meltwater from the mountains, the study said. -AFP
iPhone app may help you craft the perfect dream
TORONTO: Whether it is a stroll on the beach, sitting in a tranquil garden or a trip in the space shuttle researchers are testing a new iPhone app in a mass experiment to see if it is possible to craft the perfect dream. Developed by British psychologist Richard Wiseman, a professor at the University of Hertfordshire in England, the Dream:ON app plays a soundscape to evoke the sensation of being in a particular environment during the stage of sleep when dreams occur. “If it’s birds tweeting, then the idea is that you’ll hear birds tweeting in your dream,” said Wiseman. There are 20 soundscapes with themes such as Wild West, Space Shuttle and A Trip to Tokyo. After choosing a wake up time and soundscape, the user places the iPhone face down on the mattress and the app monitors body movements throughout the night. During the last 20 minutes of sleep, the app plays the soundscape if the dreamer is in REM sleep, a state when body movements are suppressed and dreams most likely occur.
The app activates the alarm when the user is coming out of REM sleep because there is only a ten-second window when a dream will be remembered, according to Wiseman. “Ten seconds later and it’s gone,” he said, adding that dreams are likely to occur in the last 20 minutes before waking. Users are then prompted to submit their dream to the database which will be analyzed by Wiseman and his team. The researchers are also studying whether they can help to induce lucid dreams, which is a state when you are conscious that you are dreaming and try to control the dreams. “Some of our soundscapes have a voice-over which tells you that you’re dreaming and that it’s okay for you to take over that dream. And one of the questions we’re asking is ‘Do those induce lucid dreams?’” Wiseman said. According to Allan Hobson, a dream researcher and professor of psychiatry emeritus at Harvard University, lucid dreaming is a rare occurrence. “There’s no question that you can influence the plot of your dreams. But lucid
dreaming is rare because it’s a design error; it shouldn’t happen,” Hobson said. “The body doesn’t want to be awake and asleep at the same time – the brain wants to be in one state or the other,” he added. Wiseman came up with the idea for Dream:ON while researching the link between external stimuli and sleep. “I had the idea of giving people a proper night’s dream with the idea really being twofold. The mood you’re in the next morning is related to the last dream you have before you wake up. You put people in a better mood and they’re more productive and happier,” he explained. He hopes that the app could be used to help people suffering from depression. “The research into depression and dreaming is quite well established in that (depressed people) dream more, and their dreams are more negative,” said Wiseman. Since its launch at the Edinburgh International Science Festival last week the app has had 300,000 downloads, and has collected data from over 200,000 dreams. -Reuters
Chin implant surgeries on the rise in US CONNECTICUT: The number of American women and men having cosmetic chin surgery increased drastically in 2011, according to the American Society of Plastic Surgeons according to HealthDay News. The growth in chin augmentation procedures was greater than breast augmentation, Botox injections and liposuction combined. Reasons for the boom in chin augmentation may include increased use of videochat technology, an aging baby boomer population and a desire to improve work success, suggested a society news release. “The chin and jawline are among the first areas to show signs of aging,” Dr. Malcolm Roth, president of the society, said in the release. “We also know that as more people see themselves on video-chat technology, they may notice that their jawline is not as sharp as they want it to be. Chin implants can make a dramatic difference.”
There were nearly 21,000 chin augmentations last year, a 71 percent increase from 2010, according to the release. Women had nearly 10,100 procedures, a 66 percent increase, and men had almost 10,600 procedures, a 76 percent increase. Among younger adults, aged 20 to 29, 2,750 underwent augmentations, representing a 68 percent increase. Among those aged 30 to 39, nearly 2,600 had the procedure, a 69 percent increase. Numbers increased with age: There were more than 5,000 chin surgeries in adults aged 40 to 54, marking a 77 percent increase. For those 55 and older, nearly 8,500 procedures were performed, a 70 percent increase. Other cosmetic procedures that increased in 2011 were: lip augmentations (49 percent), cheek implants (47 percent), laser skin resurfacing (9 percent), soft-tissue fillers (7 percent) and facelift (5 percent).
The Hubble Space Telescope has found a UFO, but this one is filled with stars instead of little green men. The iconic space telescope snapped an amazing new photo of the “UFO Galaxy” - a galaxy 35 million light-years from Earth that is officially known as NGC 2683. “NGC 2683 is a spiral galaxy seen almost edge-on, giving it the shape of a classic science fiction spaceship,” NASA officials wrote in a recent image description. The galaxy was originally discovered on Feb. 5, 1788 by famed astronomer William Herschel. It is located in the Lynx constellation in the northern sky. But it was astronomers with the Astronaut Memorial Planetarium and Observatory in Cocoa, Fla., that dubbed NGC 2683 a cosmic UFO. Astronomers suspect that NGC 2683 is a barred spiral galaxy, but the edge-on view from Hubble and other telescopes makes it difficult to see the object’s structure directly. The off-kilter vantage point, however, does offer scientists a unique galactic perspective. (AFP)
tuesDAY, april 17, 2012
Sheikha Suad pleased at current women status in Gulf but calls for greater improvement KUWAIT: The eminent Kuwaiti poet, Sheikha Dr. Suad Al-Sabah, has praised Kuwaiti women for their success in breaking social and traditional chains and occupying status among fellow male nationals for public services. However, she cautioned that they need to struggle more for greater achievements and liberties. In an interview with Kuwait News Agency (KUNA), on the occasion of her current visit to the Saudi capital for taking part in the “first women poetic charitable soire,” Sheikha Suad, a Kuwaiti poet and writer, well known in Kuwait, the Gulf and the Arab world, said that the Kuwaiti woman “has broken the chain, opened up springs (of creativity) and realized herself.” “She needs to do a lot more, although in every single house in Kuwait, she is the hanging mist,” Sheikha Suad said in metaphoric terms, alluding to the females’ basic role of caring for families and upbringing the youth. Noting that the Kuwaiti women have largely succeeded in staying in the development process of the country since many years ago, when the Kuwaiti society was very much conservative, Sheikha Suad boasted that many of her fellow female citizens occupied senior posts, acquired high education, served as teachers, employees in various departments and worked in the press, as editors and chief editors. On her outlook of future of the cultural and intellectual relationship between the Kuwaiti and Saudi women, she re-asserted that females of her country “were ahead of the Saudi women regarding some issues, however the path ahead of them remained a long one.” “The Saudi women have solid potentials that render them capable of pursuing the struggle at the intellectual level for realizing themselves and they have to carry on with the battle against those who seek to put them, solely, in the houses of obedience.” “Hearts (of the Kuwaiti and Saudi women) are united however putting hands together has remained on the
FILE-Kuwaiti women attend the parliament session at the Kuwait’s national assembly on Dec. 14, 2010 in Kuwait City (AFP).
waiting list,” she said, affirming in her distinguished poetic language that little has been done for coordination between the females of the two neighboring Gulf countries. On the role of women intellectuals for cementing the ties among the GCC countries, Sheikha Suad said, “Culture is our real passport to have access to each other; it is the beautiful bird of freedom known by all trees in the Gulf.” “The educated Gulf women are rays of light that feed the hearts with love, compassion and solidarity.” On a recent decision by the Custodian of the Two Holy Mosques, King Abdullah Bin Abdul Aziz, to grant the Saudi women franchise rights, the renowned and veteran Kuwaiti poet praised the King for leading the nation in line with “the spirit of modern times and with deep sense of responsibility of a
leader who knows that life can only exist with women presence.” Regarding her winning of the Korean “Manahi” award, Sheikha Suad indicated that this honoring was actually devoted for all Arab women who have chosen to struggle with words. Asked on her work plans, she hinted that memories with her late husband, Sheikh Abdullah Al-Mubarak, were gripping her mind and that such experiences would lead to new poetic and prose works. As to the present lack of women representation in the Kuwaiti parliament, Sheikha Suad indicated that results of the recent polls should be accepted as some aspects of democracy, expressing her certain belief that the women activists in her country would push for another major comeback to the political arena in the future. Asked on her assessment of the Arab
Quake-hit Christchurch to build cardboard cathedral FRANCE: A temporary cathedral made from cardboard will be built in Christchurch to replace the historic Anglican building destroyed in last year’s earthquakes, Church officials said Monday. The spire of the original cathedral,
a symbol of the New Zealand city, collapsed in the February 2011 quake that killed 185 people and the structure was condemned after sustaining more damage during tremors in June and December. The Church unveiled plans Monday
This Anglican Church of New Zealand handout photo received on April 16, 2012 shows an impression of a temporary cathedral made from cardboard which will be built in Christchurch, New Zealand to replace the historic Anglican cathedral destroyed in last year’s earthquakes. (AFP)
to erect a temporary cathedral designed by Japanese architect Shigeru Ban by the end of the year, describing it as a “symbol of hope” for the shattered city, which is still struggling to rebuild. Costing NZ$4.5 million ($3.7 million) and capable of seating 700 people, the cathedral will be made from cardboard tubes, timber beams and structural steel on a concrete pad. “It will give a location for people to come and reflect on what we’ve been through and, hopefully, gather inspiration for the future,” project organizer Richard Gray said. Ban has previously built cardboard and paper structures following earthquakes in Japan’s Kobe, L’Aquila in Italy, and Haiti, although the A-frame cathedral is his largest so far. “The strength of the building has nothing to do with the strength of the material,” he said. “Even concrete buildings can be destroyed by earthquakes very easily. But paper buildings cannot be destroyed by earthquakes. It’s also consistently lowcost.” Work on the temporary cathedral is due to begin next week. Plans have not been finalized for a permanent replacement for the 131-yearold cathedral, which the Anglican Church says would have cost up to NZ$100 million to rebuild. -AFP
Lao New Year’s traditional focus draws tourists VIENTIANE: On the first day of “Pi Mai Lao,” or Lao New Year, the capital Vientiane wakes up to the sound of Buddhist monks chanting in the ancient Pali language as women in traditional silk skirts gather at dawn to offer alms to monks in orange colored robes. Phonesavanh Xaypanya, 63, is one of them. Together with her five-year-old granddaughter Malaythong she kneels down to offer homemade sticky rice wrapped in banana leaves. “I’m offering food...to wish for good health and success this New Year,” said Phonesavanh. “This is an auspicious day to offer food and receive blessings.” The slow pace and lagging modernization of Laos, just starting to gain recognition among foreign tourists, means that traditions long abandoned in Thailand, just to the west, remain a key part of life - and are now an important draw for foreign visitors. As this nominally Communist and landlocked former French colony slowly opens, courting neighboring China, Thailand and Vietnam to develop its resources and infrastructure, the old-fashioned pace of life is becoming an important resource of its own, charming visitors jaded with more modern capitals. The three-day New Year’s holiday that this year ended on April 16 is just one example of the hospitality and easy-going people that have earned the “Laos People’s Democratic Republic” - the country’s formal name - the nickname “Laos Please Don’t Rush” among its expatriate community. Whereas Thailand’s Songkran festival is characterized by often raucous celebrations, in Vientiane’s gilded temples ven-
dors sell jasmine garlands, sticks of marigold flowers, incense and candle sticks for the religious ceremonies that take place throughout the holiday. At Pha That Luang, a gold stupa in the center of Vientiane, tourists and locals file in to pour scented water over Buddha statues decorated with flowers, a cleansing act that is far more than just a sign of respect. “It will bring good luck and prosperity this year,” said a smiling Phong Chandala, 28. As the festivities continue, religious chanting makes way for electronic music played at full volume. Locals and tourists gather by the road-side for a full day of water-fights, splashing and drinking. By sun-set the party is in full swing across the city. Young people dance and throw buckets of water at each other until the next day when the celebrations begin again. “The atmosphere today is amazing,” said Margret Bjorndottir, 20, from Iceland. “We’re travelling around southeast Asia and heard wonderful things about Laos and we were not disappointed.” Visitors from Thailand also travelled to Vientiane in search of ways that have vanished at home. “Lao people still respect the old customs, that’s why we like it. And the water fight is more relaxed than in Bangkok. It’s so crowded there,” said Malee Vongchumyen, 39, from Thailand. Her husband, 42-year-old Saksith Vongchumyen, agreed. “It’s not the same anymore in Thailand, there is too much drinking and stupid behavior. Laos reminds me of traditional New Year when I was a kid,” he said. -Reuters
Sheikha Dr. Suad Al-Sabah
media, at present, she likened it to a military tank driven by a confused soldier who cannot determine the course of driving. She revealed that she was a fan of the electronic socializing, “for I love people and my verses blossom with aroma of their spirits.” She also expressed satisfaction that some of the supporters posted excerpts of her works on websites. Sheikha Suad forecast a blossoming future for Arab poetry. “The Arab is born a poet and dies as a poet but there is a verse for each time...” Sheikha Suad, who arrived in the Kingdom late on Sunday, was received by the chairperson of the women department of Prince Salman social center, Princess Al-Johara Bint Saud Al-Thuannyan Al-Saud, and the Kuwaiti Charge D’affaires, Thiab Farhan Al-Rashidi, along with his spouse, Sheikha Mohammed Al-Rashidi. -KUNA
Harry Potter encyclopedia in progress, says JK Rowling LONDON: Her first novel for adults is due in September, but JK Rowling isn’t ready to leave behind the world of her most famous creation. The author has confirmed she is hard at work on her long-promised encyclopedia of the Harry Potter world, reports The Guardian. In the “frequently asked questions” section on her new author site, Rowling said that “for a long time I have been promising an encyclopedia of Harry’s world, and I have started work on this now - some of it forms the new content in Pottermore. It is likely to be a time-consuming job, but when finished I shall donate all royalties to charity.” Four years ago Rowling took small American publisher RDR Books to court over its plans to publish the Harry Potter Lexicon, an unauthorized A to Z of the Potter stories. Rowling called the book “wholesale theft of 17 years of my hard work”, and won the case. The news that she is finally working on an encyclopedia herself is the latest in a series of announcements from the author, from last week news that she will publish adult novel ‘The Casual Vacancy’ this autumn to Saturday’s newsflash that her website Pottermore is now open to all comers. While the chance to venture back between the pages of the Potter universe will be welcomed by her millions of fans - sales of eBook editions of the Potter books topped £1m in just three days when they were launched earlier this month - the author nipped hopes of an eighth Harry Potter novel in the bud. Responding to the question “Will there ever be another Harry Potter novel?”, she said: “I have always refused to say ‘never’ to this question, because I think it would be foolish to rule out something I might want to do in a few years’ time. However, I have no immediate plans to write another Harry Potter novel, and I do think that I have rounded off Harry’s story in the seven published books.” Readers on fan website Mugglenet were nonetheless rejoicing about the forthcoming encyclopedia. “Happiness x10000,” wrote one fan on learning of Rowling’s new project. “IT’S LIKE POTTERHEAD CHRISTMAS!” said another. “I can’t even express how excited I am right now. I’ve been nostalgic lately, thinking back on how the series used to be, but all of this news and anticipation has reminded me that the magic is still alive. So I have one final thing to say to my fellow Potterheads, here we go again.” When Rowling published the Harry Potter fairytale spin-off ‘The Tales of Beedle the Bard for charity’ in 2008, she sold 368,000 copies in just three days.
Remote Indian state struggles for identity
FILE-Local Manipuri youngsters play a game of carom in front of their homes in a small by-lane of Imphal in the north eastern state of Manipur on Feb. 20, 2012. (AFP)
FRANCE: Promoted in official tourist brochures as the “jewel of India,” the tiny state of Manipur seems closer to an ignored family heirloom than a proudly coveted gem. “Backwards,” “marginalized,” “isolated,” “insurgency-wracked:” the adjectives that most frequently precede any mention of Manipur -- for all its stunning natural beauty -- are overwhelmingly negative. And for many Manipuris, the concept of being “of India” in any meaningful sense is one they find difficult to entertain. “Why should I care about India when India does not care about me,” says Jiangam Kamei, a 22-year-old history student in the state capital Imphal. Such expressions of alienation are common in a number of the “Seven Sisters” -- the group of northeastern states encircled by five other countries and connected to the rest of India by a sliver of land that arches over Bangladesh. Their relative isolation is not just geographical, but also ethnic, linguistic, economic and political. “We look so different to start with,” said Kshetrimayum Onil, who works for a local human rights group in Manipur and also runs a youth network called ReachOut. “We are often mistaken for Chinese or Koreans because of our Mongol roots,” Onil said. One of India’s smallest states with a population of just 2.7 million inhabitants, Manipur borders Myanmar and its people have always tended to look eastwards in their search for cultural links. “We are virtually cut off from mainland India,” said Shyam Singh, a history professor in Imphal. “Culturally and socially, we identify ourselves more with the countries of Southeast Asia as they are closer to home.” One striking example is the massive popularity in Manipur of Korean movies, soap operas and pop music, which have filled the vacuum caused by a separatist-led boycott of Bollywood films. Separatist violence has been part of daily life in Manipur for decades, as it has been in most of the northeastern states that have spawned more than 100 militant groups whose demands range from autonomy to secession. Manipur was incorporated into the Indian Union on October 15, 1949, two years after the country won independence from British rule. According to political analyst Sharat Chandra, the
enormous problems India faced after partition meant its leaders neglected remote states like Manipur which were never properly integrated into the socio-political mainstream. The central government’s “step-motherly treatment” fuelled separatist sentiment from the outset and rebel outfits sprang up “each vying for political supremacy and promising secession from India to its people,” Chandra said. The perception of New Delhi as a quasi-colonial power was reinforced by the huge deployment of security forces armed with sweeping anti-insurgency powers to counter the separatist violence that peaked in the 1980s and 1990s. “The government exists only in name here,” said Inder Laishram, who runs a shop in Imphal’s main Burma Bazaar, where heavily armed commandos are a constant presence. “The real power is in the hands of the army and the underground outfits. Both run the show with the power of the gun. We have nowhere to turn to,” the 35-year-old said. The situation is further complicated by the fact that the myriad rebel groups are largely formed on tribal or ethnic lines with rival agendas that regularly erupt into bloody internecine disputes. Manipur has a strong ethnic mix, and the state’s Meitei, Naga, Kuki and Pangal communities are all deeply committed to preserving their own cultural autonomy. Laishram belongs to the Hindu Meiteis who dominate the Manipuri plains, and it is that community which provides his primary identity, as he makes clear when asked whether he voted in recent elections. “Why should I? We are Meiteis. We are not Indians,” he said. The disconnect with the rest of the country extends to sport. In the streets of the bazaar, young boys play a game of sepak takraw, or kick volleyball, a sport native to the Malay-Thai Peninsula, as opposed to cricket. Manipur has a primarily agrarian economy and is one of the least developed states in India -- one of only five with a per capita income of less than 30,000 rupees ($600). The charge that Manipur has been neglected and marginalized by the Indian government has found a powerful symbol in the person of Irom Sharmila -- a 40-year-old activist who has been labeled “the world’s longest hunger striker”. -AFP
ENTERTAINMENT Song Of The Day
TUESDAY, APRIL 17, 2012
All five Star Trek captains unite at London event FILE - An undated photo of actress Jane Mulgrew as Captain Janeway in the “Star Trek” series. (Agencies)
Fahad AlSabah Staff Writer
Song: Bekelma Mennak Artist: Sherine Album: Batamenak - EP Genre: World In short: Sherine has released the Betamenak EP to whet her fans’ appetites before releasing her third studio album, Habait. The EP managed to spawn two singles that have quickly become fan favorites and a standard choice for most concerts’ set lists; “Bekelma Mennak” helped secure Sherine’s place among music royalty. To listen to the song visit www.alwatandaily.com E-mail your feedback to email@example.com
The Buzz Suspect in Joss Stone plot in mental-health unit One of the men accused of plotting to kidnap and murder soul singer Joss Stone has been placed in a mental-health unit ahead of his trial in August. Junior Bradshaw and Kevin Liverpool were arrested in June near Stone’s secluded house in the town of Cullompton, 175 miles (280 kilometers) southwest of London. Prosecutors have said a samurai sword and notes mentioning Stone’s name were found in their car. Exeter Crown Court heard Monday that results of a psychiatric test to determine Bradshaw’s fitness to stand trial will be made available in June. Bradshaw has not yet entered a plea to charges of conspiracy to murder and other crimes. -AP
Tom Petty offers $7,500 reward for stolen guitars Rock band Tom Petty and the Heartbreakers are offering a $7,500 reward for the return of five guitars stolen from a Los Angeles-area studio last week, ahead of their US and Europe tour. The band said on their website that the guitars include Petty’s 1967 12-string blonde Rickenbacker 360 and his 1965 Gibson SGTV Junior, as well as instruments belonging to bassist Ron Blair, rhythm guitar player Scott Thurston, and lead guitarist Mike Campbell. They said they would pay a $7,500 reward “with no questions asked to anyone with information leading to the recovery of the guitars.” Police said they were investigating the theft. -Reuters
Antebellum’s Dave Haywood gets married All three members of country supergroup Lady Antebellum are officially off the market, as Dave Haywood married Kelli Cashiola on a private farm just outside Nashville on Saturday; according to Access Hollywood. The bride, 30, wore a white lace dress and a white flower in her hair, while singer/songwriter Dave Barnes provided the music for the happy occasion, according to People. Several wedding guests took to Twitter to offer congratulations to the newlyweds. Dave, 29, and Kelli, a vice president at Warner Music Nashville, announced their engagement in December.
3D release steers Titanic past $2 billion mark James Cameron has shored up his position as king of the worldwide box office. Cameron’s 1997 blockbuster “Titanic” sailed beyond the $2 billion mark in lifetime ticket sales, thanks to a 3D re-release of the film that was timed to the centennial of the ship’s sinking. Only one other movie has topped $2 billion, and it’s also Cameron’s. His 2009 sci-fi smash “Avatar” earned $2.8 billion worldwide. The “Titanic” reissue took in about $100 million this weekend - $11.6 million domestically and a whopping $88.2 million in 69 overseas markets. That included a $58 million debut in China and put the re-release total worldwide at $190.8 million. Added to the film’s $1.84 billion haul in its original release, “Titanic” now stands at $2.03 billion worldwide. -AP
Adele sets a new record with 21 Multi-award winning singer Adele returned to number one in the albums chart with “21”, overtaking David Bowie and Dire Straits for the number of weeks spent in the top spot, the UK’s Official Albums Chart said on Sunday. The Brit and Grammy award winner moved up two places in her 64th week in the albums chart with “21”. During her career, she has notched up 23 weeks at number one, including one week for her debut album “19” and 22 weeks for “21”. -Reuters
N.Irish actress to play Natascha Kampusch in movie A movie about the eight-year-long kidnap of Natascha Kampusch will star Northern Ireland-born actress Antonia Campbell-Hughes as the young Austrian, a German newspaper reported Sunday. Campbell-Hughes, 29, who appeared in the 2009 film “Bright Star” by Jane Campion, will play Kampusch who was kidnapped aged 10 on her way to school in Vienna in 1998, Welt am Sonntag said. As a young child, Kampusch will be played by 10-year-old Amelia Pidgeon, from London, it said. Her kidnapper Wolfgang Priklopil, from whom she escaped eight-and-half-years later in 2006 and who killed himself the same day, will be played by Danish actor Thure Lindhardt, it said. The shooting of the film entitled “3096” after the number of days of Kampusch’s captivity, is due to begin in the southern German city of Munich in May, the paper said. The movie is based on a draft screenplay by Bernd Eichinger who died in January 2011 and whose other works include “Downfall” about Adolf Hitler’s last days. -AFP
FILE - An undated photo of actor William Shatner as Captain Kirk in the “Star Trek” series. (Agencies)
FILE - An undated photo of actor Sir Patrick Stewart as Captain Picard in the “Star Trek” series. (Agencies)
FILE - An undated photo of actor Avery Brooks as Captain Sisko in the “Star Trek” series. (Agencies)
LONDON: “Star Trek” is beaming over to London in October and boldly going where no trekkie event has gone before by bringing together all five TV captains on stage for the first time. Organizers for “Destination Star Trek London” said on Monday that their fan convention would be the first official “Star Trek” live event in the UK for 10 years. To mark the occasion, actors William Shatner (Captain Kirk), Sir Patrick Stewart (Captain Picard), Avery Brooks (Commander Sisko), Kate Mulgrew (Captain Janeway) and Scott Bakula (Captain Archer), who have commanded operations in each of their respective series based on the iconic TV franchise that began in 1966, will appear on stage together. “The ‘Star Trek’ fan base in the UK is one
of the biggest in the world, and it has waited a long time for the convention to return, so we wanted to make sure we did it right,” said Liz Kalodner, general manger of CBS Consumer Products, which owns the TV franchise. Shatner, 81, the first captain of the starship Enterprise, has been a fan favorite at conventions, mostly in the United States, that attract thousands of trekkies. Avery Brooks, who became the first black actor to take the lead role when he appeared in the 1993-99 series “Star Trek: Deep Space Nine”, has also made appearances, along with Kate Mulgrew, who made a splash as female Captain Janeway in “Star Trek: Voyager” for six years. But all five actors have never appeared together at an official event for the cult series. Organizers said they were expecting some
10,000-15,000 people from all over the world to attend the London convention at the Excel Exhibition Centre from Oct 19-21. Tickets go on sale starting April 30. “It’s not just the five captains. There will be a host of other guests from the series. The fans will be able to get up close,” said Rob Nathan, marketing director for Media 10 which is organizing the events in collaboration with CBS. Nathan said the London event would be bigger and better than many other “Star Trek” events. “We are going to make this really interactive. There are going to be stunt displays, we are going to recreate some sets, and get some original sets. People will be able to sit on the starship bridge with members of the cast,” he said. Nathan said some 14,000 people had registered to sign up for informa-
Christiane Amanpour returns to CNN Worldwide DUBAI: Christiane Amanpour will host a new daily foreign affairs program on CNN International that will launch on Monday, April 16, it was announced on Sunday; according to press release. Beginning with the program’s launch, the 30-minute daily broadcast of “Amanpour,” will air weeknights at 11:00 p.m., and replay at 1:00 a.m. All times are as per the United Arab Emirates. “We are delighted to have Christiane back at CNN,” said Tony Maddox, executive vice president and managing director for CNN International. “Christiane’s sophisticated, incisive journalism is needed now, more than ever to add context and depth to the world’s biggest news and stories,” Maddox said. In the unique relationship announced in December, Amanpour’s primary role is as global affairs anchor for ABC News blazing a trail in international reporting for American viewers, in addition to her new program on CNN International reaching a vast global audience. She will continue her courageous reporting in war-torn countries for all ABC News programs, platforms and online, including her unmatched ability to land major and rare exclusive interviews with world leaders - including last year’s only interviews with Muammar Gadhafi and Hosni Mubarak. As global affairs anchor for ABC News, her ongoing assignments range from the uprisings in the Middle East to Iran’s nuclear program to the Eurozone crisis. Amanpour will also report on new conflicts, natural disasters and humanitarian crises, anchor four primetime specials on ABC and continue “Around the World with Christiane Amanpour,” her recently launched video series for ABCNews.com and Yahoo News. “This is an exciting time to have this unique role,” Amanpour said. “I am
In this undated handout photo provided by CNN International, Christiane Amanpour (left) is seen interviewing guest Nancy Pelosi on the “Amanpour” show.
thrilled to come home to CNN, where I have reported for so many years - and combine this role with the reporting that I will continue for ABC News. Viewers in America and around the world recognize that we live in a globally-inter-connected world - from the ‘Arab Spring,’ to the economic challenges faced by Europe and the US, to security challenges everywhere. We are all in this together. And, we will look at all of these events and the people moving these events, from all angles, without fear, nor favor,” she continued. As a companion digital presence to the program, CNN will also launch Amanpour.com. Users of CNN.com/ international and Amanpour.com will be able to view excerpts of the daily broadcasts of “Amanpour.” Amanpour. com and CNN.com/international will have editorial contributions from Christiane Amanpour, the show team, and indepth insights and commentary from a wide array of foreign policy experts.
Additionally, viewers and users can interact with Amanpour via Twitter and Facebook for show guest updates, breaking international news, and more. And, Amanpour herself will curate a daily dose of the most vital digital content that she is following to stay connected with the pace of change for the day’s top stories. “Amanpour” show social media feeds will be available in both Spanish and English languages. Also on April 16, CNN International will debut “CNN NewsCenter,” a halfhour news program that will air weekdays at 11:30 p.m. UAE. Anchored by CNN’s Isha Sesay and broadcast from CNN’s worldwide headquarters in Atlanta, “CNN NewsCenter” will provide viewers with a complete picture of the day’s global news. “CNN NewsCenter” will continue the editorial pace set by “Amanpour,” and offer the latest updates and frontline perspectives on stories that matter to CNN International’s viewers around the world.
FILE - An undated photo of actor Scott Bakula as Captain Archer in the “Star Trek” series. (Agencies)
tion about the London event after an initial, cryptic Twitter message was posted at the beginning of March. “It’s going to be an absolute pilgrimage for ‘Star Trek’ fans,” he said. More information can be found on website www. startreklondon.com which goes live on Monday. -Reuters
Matilda the Musical wins record 7 Olivier Awards
LONDON: “Matilda the Musical”, based on the Roald Dahl children’s story about a precocious child with psychokinetic powers, won a record seven Olivier Awards on Sunday, beating the previous best of six on British theatre’s biggest night. The Royal Shakespeare Company production, which transferred to the Cambridge Theatre in London’s West End theatre district, was created by Dennis Kelly and Australian musician-comedian Tim Minchin. Among the prizes it picked up at a red carpet ceremony held at the Royal Opera House was best actress in a musical which went to the four girls who shared the title role. Cleo Demetriou, Kerry Ingram, Sophia Kiely and Eleanor Worthington Cox, aged between 10 and 12 years old, were the youngest ever recipients of an Olivier Award, according to organizers.But the shared honor did have a precedent -- the boys who played Billy Elliot in the ballet musical took the best actor in a musical prize in 2006. Matilda’s other honors on the night were actor in a musical (for Bertie Carvel), new musical, director (Matthew Warchus), theatre choreographer (Peter Darling), set design (Rob Howell) and sound design (Simon Baker). It was nominated 10 times, the maximum number of categories possible. At the ceremony, Brian May joined the cast of Queen musical “We Will Rock You” for a rendition of “Bohemian Rhapsody”, while there was music and dance to celebrate special awards for lyricist Tim Rice and outgoing Royal Ballet director Monica Mason. Among the other awards were best new play for “Collaborators”, in which Soviet dictator Josef Stalin commissions a play from writer Mikhail Bulgakov, and best revival for “Anna Christie”. The play featured movie actor Jude Law, but it was his co-star Ruth Wilson who picked up her second Olivier Award with a best actress honor. Best actor was shared by Benedict Cumberbatch and Jonny Lee Miller for “Frankenstein”. The English National Opera triumphed with best new opera production for “Castor and Pollux” as well as outstanding achievement in opera in recognition of “the breadth and diversity of its artistic program”. Edward Watson scooped the outstanding achievement in dance award for his performance in “The Metamorphosis” at the Royal Opera House and best new dance production went to the Bangladesh-inspired “Desh” at Sadler’s Wells. The BBC Radio 2 Olivier Audience Award went to “Les Miserables”, which has been seen by more than 60 million people in 42 countries. -Reuters
Tyson debuts punchy one-man show in Vegas PARIS: Fighting legend Mike Tyson has swapped the boxing ring for the cabaret stage, in a new one-man show which pulls few punches in recounting the ups and downs of his roller-coaster life.In a stand-up act he hopes to take to Broadway and beyond, the ex-world champion tackles head on the most controversial episodes, including his jailing for rape -- he insists he was wrongly convicted -and his struggle with drugs. Talking in sometimes frenetic bursts for almost nonstop for two hours -- and showing some nifty footwork to musical numbers from a jazzrock ensemble -- he also recalls the good times when his talent brought him fortune and fame. “Welcome to my living room,” said the 45-year-old, opening the first night Friday in an intimate 740-seater theater in the back of the MGM Grand casino complex in Las Vegas, where the show runs through until Wednesday. “Many of you are wondering what the hell am I going to do up on the stage tonight,” he joked at the start of “Mike Tyson: Undisputed Truth, Live on Stage.”To be honest I’m wondering the same thing too.” The answer is a blow-by-blow run through his life story, starting with his birth in Brooklyn and not knowing who his real father was, his early brushes with the law, and how his mother died when he was 16. It was then that his boxing mentor, Cus d’Amato, helped him turn his back on crime and detention centers and refocus his life around his awesome fighting talent. “I had a lot of emotional problems,” he said, evoking a theme of the show, in which Tyson uses an array of expletives -- including the “N” word, repeatedly -- to
describe stupid things he has done over the years. His bad behavior didn’t prevent him from becoming the youngest ever heavyweight champion of the world at the age of 20, after winning his first 19 professional bouts by knockouts. But his first marriage to actress Robin Givens unraveled in 1989 -- Tyson tells a funny anecdote about Brad Pitt turning up with his estranged wife -- and his selfconfessed “demons” gradually got the better of him. In 1992, Tyson was convicted of raping a beauty queen at a pageant in Indianapolis, Indiana. He served three years of a six-year sentence before his release in 1995, steadfastly denying he raped the woman. “I went to jail for something I didn’t do,” he said Friday. Tyson reclaimed the heavyweight throne but lost to Evander Holyfield in 1996 and in a 1997 rematch infamously bit Holyfield’s ears twice, serving a year’s banishment in exile for the move. The boxer filed for bankruptcy in 2003, the same year his second marriage ended. He later married his current wife in 2009, but only shortly after his four-year-old daughter Exodus died in a tragic accident at home. But he has revived his career in recent years, appearing in cameo in the “Hangover” films (the second set in Vegas) and in reality television shows exploring his love of training pigeons. The crowd Friday -- predominantly white, many of them boxing fans in a town which has a long tradition of hosting major fights -- were mostly impressed about Tyson’s stand-up talents. -AFP
A poster of former boxing champion Mike Tyson at the Hollywood Theater is pictured at the MGM Grand casino complex in Las Vegas, Nevada, on April 13, 2012, ahead of the the ﬁrst night of his oneman show entitled “Mike Tyson Live On Stage, Undisputed Truth.” (AFP)
AROUND TOWN / TIME OUT
TUESDAY, APRIL 17, 2012
If you have an event you wish to include, please email: firstname.lastname@example.org
Feature o f
Al-Babtain Group concludes training
program for its company’s managers
KUWAIT: Abdul Mohsen Abdul Aziz Al-Babtain Group had organized a training program for the Senior Managers and heads of the group divisions. The program comes as the key hub of the company’s strategy of developing leadership and human cadres, and to sharpen their skills, refine their experiences through training programs and workshops in various areas of leadership and a modern management, thereby increase their effectiveness in production and perform their duties effectively. The training program was organized at the Radisson BLU Hotel “Failaka hall” for two days, April 3 and 4, 2012, under the title of “Situational Leadership Workshop”, in collaboration with Leaders Academy for Consultancy and Training. The training is to clarify the concepts of modern leadership, according to the up-to-date standards of the international leadership schools, and includes manifold workshops to assess the work environment, and to identify the primary or the dominant leadership style
Month a t
for each participant and his secondary style too, And thus the ability of each participant to use the correct type of leadership according to the situations that he faces. Also included practical applications of real situations within the work environment to identify the behavior patterns of the employees and their needs, and how to motivate them effectively according to the needs of the team member. It is worth mentioning that Al-Babtain Company has topped the first rank in the customer satisfaction for the year 2011, due to the excellence of its service offering, this training course is one of the main topics developed by the Company within its strategy to continue providing high level services to its customers which is always expected from Al-Babtain Group. At the end of the program, Saleh Al-Babtain - CEO of Al-Babtain Group handed over the certificates to the participants and he praised the tireless efforts for the teamwork and achievements.
General A n n o u n c e m e n t s
a glance are mundane encounters of beauty that sprouted from the ego and surrounding events, creating emotions which dissolved into aesthetic visual messages.
Arabic course March 11-April 19/ TIES Center: TIES Center is glad to announce the start of Arabic courses. We offer classes for all levels, from beginners to advance and also introduced new classes called Kuwait dialect. TIES Arabic classes are intended for all expatriates who wish to learn Arabic for whatever purposebusiness, basic communication, as a second language or simply as a hobby. For more information/registration, contact 97228860/97793440.
Marriage counseling session Diwaniya presentation April 17/ 7 p.m. / AWARE Center: The AWARE Center cordially invites interested expats to its diwaniya presentation entitled, “The Impact of Islamic civilization on the West,” by Bryn Barnard on Tuesday. Bryn Barnard will be discussing the impact of Islamic civilization on the West, the subject of his book ‘The Genius of Islam: How Muslims Made the Modern World’. This one hour illustrated PowerPoint talk will include aspects of Islamic philosophy, art, book arts, music, astronomy, medicine, engineering; a discussion of how Islamic civilization is presented in North American schools; and suggestions about why the deep historical connections between Islam and the West are not better known today.
Dar Al Funoon hosts artist Karim Ghidinelli April 2- 19/ 4 p.m. - 8 p.m. / Dar Al Funoon: Born in Italy in 1976, Karim spent his childhood in this city; he went to middle school and high school in African countries. His body of work consists of a central iconic image that of a finger imprint, within each thumb impression he has formulated a pseudo-calligraphic narrative of life experiences on luminous and luxurious enamel weaves.
Art exhibition April 15-26/ 10 a.m. - 9 p.m. / Gallery Tilal: Abdul Rasool Salman’s rhythms
K’S PATH invites applicants for the adoption of pets Sepp is a Domestic Long Haired (DLH) male cat. He will be 2-years-old April 2012. This friendly, laid-back boy loves a good cuddle and likes a high vantage point in a cat tree or ledge to look out from. He would do best in a home with children over 12 years of age. To adopt, contact +965 67006122 or visit the website www.kspath.org
May 2/ 6 p.m. - 8 p.m. / TIES Center: TIES Ladies Club invites all ladies to a lecture on Marriage Institution by Joanne Hands (Psychologist, Licensed Counselor, Marriage & family Therapist). The lecture will cover on a brief introduction to the stages of marriage institution, a successful approach to the day to day marriage life, tricks of nourishing and improving your marriage relationships and techniques of overcoming the marriage challenges. Refreshments will be served. For more information please contact us on 97228860/2523015/6 or email@example.com.
Mario is a gentle and affectionate 6-years-young Spitz male. This friendly boy does great with people and dogs of all ages.
Bread baking course April 19- May 10/ 6 p.m.-8 p.m. /TIES Center: TIES Ladies Club invites all ladies the unique course of preparing the ancient traditional food “The Bread Baking”. Baking of different kinds of breads will be demonstrated including Old English Toast, Italian Bread Stick, Strawberry Sweet Heart and many more. For more information please contact us on 97228860/2523015/6 or firstname.lastname@example.org.
Brainbang session October 7-April/ 11:45 a.m. -1:45 p.m. /Salmiya: BRAINBANG, the creative arm of Friends of CRY Club (FOCC) invites all students aged 11 and above, to join us fortnightly on Fridays. The areas of development are: Creativity in learning, tools and techniques to empower your mind, profile based learning, activity, fun, games and worksheet based assignments, practical experiments, mind gymnastics and application of learning techniques to conventional study. E-mail: email@example.com or call 25660835/25618471/97677820.
Open House for Indian Citizens Ambassador of India would be holding an Open House for Indian citizens to address their problems\grievances on Wednesdays of the second and the fourth weeks of every month between 1500 hrs and 1600 hrs in the Embassy. In case Wednesday is an Embassy holiday, the meeting will be held on the next working day. To ensure timely action/follow-up by the Embassy, it is requested that, wherever possible, Indian citizens should exhaust the existing channels of interaction/grievance redressal and bring their problems/issues in writing with supporting documents.
Royal Thai Embassy The Royal Thai Embassy in Kuwait wishes to invite Kuwaiti companies that deal business with Thai companies or those agencies of Thai commercial companies to visit the Embassy’s Commercial Office to register their relevant information to be part of the embassy’s business and trade database. The Royal Thai Embassy is located in Jabriya, Block 6, Street 8, Villa No. 1, Telephone No. 25317530 -25317531, Ext: 14.
Horoscopes Aries: March 21 - April 19
Cool heads will be needed today, Aries, as tempers may flare at work because of frustration with ongoing problems. You might need to take the lead in keeping everyone calm by facilitating clear and open communication. It will be important to keep emotions in check or words will fly that people may regret. This is a temporary situation. Taurus: April 20 - May 20
If you find yourself second-guessing plans you made earlier, Taurus, perhaps for a plane trip, try to look objectively at your concerns. You don’t have to cancel everything if you have money worries. Your fears will probably turn out to be unfounded. This could be a good time to look into learning more about modern technology, either by enrolling in a class or attending a lecture. Gemini: May 21- June 21
You might find yourself wrestling some ongoing, unresolved issues that could interfere with your ability to do your job. Be mindful that you’re a bit brittle today, particularly if you’re working on financial matters, Gemini. The last thing you want is a major battle with those around you, so do your best to keep a cool head.
Cancer: June 22 - July 22
There is a possibility that you’ll fall into a bit of a regression today as old feelings of anxiety or inadequacy surface. Although you’ve reached a good place in terms of self-confidence, some old childhood fears could resurface.The old emotions that bubble up could impede your interactions with your co-workers or friends today, so be mindful of what lies under the surface for you, Cancer. Leo: July 23 - August 22
OK, up and at ‘em, Leo! You might feel like you’re walking through sand today, but you really need to shake your booty and get the blood flowing. If you don’t get up and do something, you’ll be a slug all day. You need to clear your head and cast off that bloated feeling. Most importantly, you want to get a good start to the day so you can accomplish everything that awaits you. Virgo: August 23 - September 22
You could be startled to find that your artistic talents, although dormant for a while, are called into service today. A particular undertaking of those around you could benefit from your gift in this area. Don’t panic, Virgo, you won’t be expected to do this alone. Others will pitch in and help.
Libra: September 23 - October 22
This could be a tough day for you emotionally. It might surprise you to find that some very old, deep-seated feelings get churned up in the course of investigating a subject of keen interest to you. It might be difficult to process these feelings. Don’t try to intellectualize them too much, Libra. At the same time, be wary of situations that could trigger an emotional cyclone. Scorpio: October 23 - November 21
Things could be up and down for you today, Scorpio. You might experience some confusion as a result of communication snafus or computer glitches that affect financial issues you’re trying to solve. Persevere and you’ll succeed. Don’t be surprised if you’re recruited to join a project that is totally new to you. You may be apprehensive at first, but you’ll do just fine. Go ahead and say yes. Sagittarius: November 22 - December 21
You might be feeling a little tense because you and your partner are grappling with some thorny financial issues right now, Sagittarius. You could be frustrated because you need to postpone some purchases or investments until the cash starts flowing more freely again.
Capricorn: December 22 - January 19
This will be an exciting day for you intellectually, Capricorn. A number of intriguing concepts will catch your fancy, and you’ll be hungry to learn more about them right away. Your research could take you to a library or onto the Internet. The topics might relate to social or political issues. As irresistible as these new ideas are, don’t forget to tend to the business of everyday life. Aquarius: January 20 - February 18
You’ll want to respond to your creative juices, which will be flowing freely today, Aquarius. Don’t suppress the urge to sing, compose, paint, or write. You’ll be in the full flower of creativity, so make the most of it. You’ll be able to take care of your daily obligations and still make room for your creative expression. Listen to the messages you receive in your heart and let them burst forth. Pisces: February 19 - March 20
Tugs on the home front could be pulling you away from attending an event with friends that you’ve been looking forward to for some time. Try to be reasonable and sort out the needs of those at home with kindness in your heart. You might be able to address those issues and still have time to be with your friends later.
TUESDAY, april 17, 2012
Heat beat Knicks, clinch Southeast Division
NBA-leading Chicago Bulls outlast Detroit Pistons AUBURN HILLS: Derrick Rose scored 24 points, including a 3-pointer to force the game into overtime, and Joakim Noah added 20 points and 17 rebounds as the NBA-leading Chicago Bulls defeated Detroit 100-94. Rodney Stuckey, who scored a gamehigh 32 points for Detroit, missed three free throws late in the fourth quarter to keep Chicago within reach and Rose hit a 3-pointer with six seconds left to send the game into an extra period. Noah dominated in overtime with baskets and assists, and Chicago closed the game with a 12-5 run for the victory, improving their NBA-best record to 4614 while the Pistons, eliminated from the playoffs, fell to 22-38. Only Miami can deny the Bulls the
best regular-season record in the Eastern Conference and only the Heat, San Antonio and Oklahoma City can stop the Bulls from having the best overall record and a home-court edge throughout the playoffs. A Noah tip-in and assist on a Carlos Boozer layup put the Bulls ahead 92-89 in overtime before Stuckey drove for a layup to pull Detroit within 92-91 with 1:43 to play. Chicago’s Kyle Korver hit a 3-pointer off a pass from Noah to put the Bulls ahead 95-91 with 85 seconds to play and Noah followed with a layup for a 97-91 Bulls’ edge with 29 seconds remaining. Stuckey followed with a 3-pointer for Detroit eight seconds later, but the Bulls -- unlike Stuckey -- sank three free
throws in the final seconds to secure the triumph. Stuckey made only 1-of-2 free throws to break a tie at 81-81 in the fourth quarter and teammate Greg Monroe’s layup with 1:11 remaining to give the Pistons an 84-81 lead. Boozer answered with a baseline jumper for Chicago just 15 seconds later to lift the Bulls within 84-83, and Tayshaun Prince and Monroe missed shots before Chicago rebounded with 34 seconds remaining. Two fouls by Rose on Stuckey to stop the clock saw Stuckey make only 1-of-2 from the line each time, leaving Detroit ahead only 86-83 and Chicago close enough to equalize, which they did on Rose’s clutch 3-pointer. -AFP
Monaco outlasts Isner to win ATP Houston title LeBron James (6) of the Miami Heat drives against Carmelo Anthony (7) of the New York Knicks at Madison Square Garden, April 15, 2012. (AFP)
NEWYORK: The Miami Heat finally came to Madison Square Garden, a sea of orange surrounding them in what looked like a playoff game. LeBron James had 29 points and 10 rebounds, Dwyane Wade added 28 points and nine boards, and the Heat overcame Carmelo Anthony’s 42 points to beat the New York Knicks 93-85 on Sunday to clinch the Southeast Division title. Chris Bosh finished with 16 points and 14 rebounds for the Heat, who pulled away in the fourth quarter of a possible playoff preview. Miami is second in the Eastern Conference and the Knicks came into the game tied for seventh, although they fell back behind Philadelphia after the loss. Anthony had only two baskets in the fourth quarter, perhaps tired from playing 43 minutes and with James switching over to defend him after Anthony had overwhelmed Shane Battier. New York had its ninegame home winning streak snapped. Anthony had the Knicks hoping he could pull out another game against a power team after scoring a season-high 43 last Sunday in overtime against Chicago.
His tip-in gave New York a two-point lead with 9 1/2 minutes left, but by the time he had his other field goal on a 3-pointer with 1:28 remaining, Miami had opened an 11-point cushion. JR Smith scored 16 points for the Knicks, who lost all three games against the Heat. Still without the injured Amare Stoudemire and Jeremy Lin, New York didn’t have the firepower to match Miami’s Big Three for 48 minutes. Wade moved easily and shot 10 of 18 after missing the last game to rest his ankle. Miami has won two in a row after back-to-back losses last week against Boston and Chicago. Despite their talent, the Heat haven’t measured up on the road in recent weeks, perhaps the biggest concern about them heading into the postseason. They are only 17-13 outside Miami and hadn’t beaten a team with a winning record in nearly a month. The Heat had a brief scare in the third when James went down after twisting his ankle when he backpedaled into some fans after hitting a corner jumper. He stayed down for a moment but remained in the game after a timeout. -AP
Wounded Red Bull consider options after slow start Red Bull Formula One driver Sebastian Vettel of Germany drives during the first practice session of the Chinese F1 Grand Prix at Shanghai International circuit, April 13, 2012. (Reuters)
HOUSTON: Argentina’s fourth-seeded Juan Monaco outlasted US second seed John Insner for a 6-2, 3-6, 6-3 triumph on Sunday in the final of the $442,500 ATP US Men’s Clay Court Championship. Monaco, ranked 16th in the world, captured his fifth career ATP title and his second of the year after a February crown at Vina del Mar. Before that, he had not won an ATP title since 2007. “This is a great moment in my career,” Monaco said. “This tournament is going to bring me a lot of confidence.” Monaco, who improved to 5-8 in ATP finals, had reached the semi-finals last month at Miami, losing to the eventual winner, world number one Novak Djokovic. Isner saved 12 of 15 break points that he faced, but lost the only one he saw in the third set to surrender a break in the penultimate game of the match. Monaco held once more to claim the crown after two hours and 27 minutes. “I came out of the gates slow,” Isner said. “I wasn’t quite there. It took a while to get warmed up and engaged in the match. I got better as the match went on. After the first set, the quality from both of us picked up a lot. I had some things go right in the second set but I had some things go against me in the third set. He was pressuring me pretty well all day. All in all, it was a good effort and was the best match I played all week.” Monaco had lost both prior matches against Isner, including a third-round affair last month at Indian Wells. Despite the defeat, Isner will become the top-ranked American player in the world on Monday when he passes countryman Mardy Fish and moves up one spot into ninth in the ATP rankings. Isner, who sparked a US semi-final Davis Cup triumph on French clay last week to book a semi-final date with Spain in September, missed a chance for his fourth
Juan Monaco of Argentina poses with the trophy after beating American John Isner 6-2, 3-6, 6-3 to win the US Men’s Clay Court Championship, April 15, 2012 in Houston. (AP)
career ATP title and the first on clay. Isner, a runner-up to Roger Federer last month at Indian Wells, lost to fel-
low American Sam Querrey in the 2010 Belgrade final in his only prior clay final. -AFP
SHANGHAI: Once-dominant Formula One champions Red Bull are considering their technical options after failing to make the podium for the second race out of three so far this season. Team principal Christian Horner told reporters after the weekend’s Chinese Grand Prix that they could go down a similar route to Mercedes whose controversial rear wing has been declared legal. Mercedes’ German driver Nico Rosberg took a crushing first grand prix win, and a first for a works Mercedes team since 1955, in Shanghai after securing a first pole position by a hefty margin. Red Bull, now 24 points behind leaders McLaren, had held off doing anything while seeking a definitive clarification - which came in China when a formal protest by Lotus came to nothing. Asked how long it might take Red Bull to get the development on the car, Horner was vague: “I think first of all, like any component, it has to earn a place on the car as a package,” he declared. “It’s not a given that on everybody’s car it’s bolt-on lap time.” The Mercedes wing contains slots on the inside of the endplates that are opened when the driver-activat-
ed drag reduction system (DRS) is used for extra speed within defined zones to aid overtaking. The slots channel air through internal pipes to the front of the car which increases aerodynamic downforce. Red Bull won 12 of last year’s 19 races, with double world champion Sebastian Vettel taking 11 victories, and secured a record 18 poles. Vettel finished second in the Melbourne season-opener but was 11th in Malaysia and fifth on Sunday while Australian team mate Mark Webber has had three successive fourth places. Neither has yet appeared on the front row of the starting grid. In China, they went for different exhaust specifications, with Vettel opting to revert to one that he had used in pre-season testing. Asked whether the team would continue with the split strategy, Horner said the real challenge was to get the characteristics of both solutions on a single car but Bahrain this weekend might see something similar. “We just need to sort out qualifying now,” he said. “We know we’ve got good race pace. I think if we can just get qualifying sorted then we can make a significant step forward.” -Reuters
No century but hard work pays off for Watson PORT OF SPAIN: Shane Watson again showed why he is Australia’s man for all occasions when he ground his way to a vital half-century on the first day of the second test against West Indies on Sunday. The all-rounder, now padding up at three after stints at six and opener, batted for almost two and a half hours for just 56 runs at Queen’s Park Road in Trinidad. On a pitch that played slow and turned from the outset, runs were hard to come by. The Australians, who normally rattle along at a much faster tempo, could only manage 208-5 for the day and Watson was the only batsmen to reach 50. “It was hard to get the pace of the
ball because it was very slow,” he told reporters. “The ball was very soft from the time I came and in was only getting softer through the innings. It made it very hard to score and rotate through the strike with the fields that they set.” Watson has often been criticized for doing the hard work but failing to go on and make bigger scores but this was not one of those times. He has reached 50 in tests on 20 occasions for Australia but only made two hundreds. The 30-year-old said under the circumstances, he was not disappointed by his latest effort, because all the Australians had no choice other than to bat cautiously. “It’s not like we were on the defen-
sive and defend everything,” he said. “We were looking to score but the way the wicket was and with the way the ball was it was hard to pierce the field. So it made it quite difficult at times to score.” Despite Australia’s relative low return from the opening day, Watson was confident the tourists were still in a strong position after winning the toss. “The pitch is only going to get worse so it was a pretty important toss to win. That meant we weren’t going to be batting on it last,” he said. “With our two spinners as well, it meant we’ve got the balance right the way the coin fell. If we’re able to get around 300 it’s going to put us in a pretty good position to make the most of the conditions.” -Reuters
Rosberg win was ‘personal ambition’ for Brawn SHANGHAI: Of the many Formula One victories that Ross Brawn has celebrated over an extraordinary career spanning several decades, Nico Rosberg’s first with Mercedes in China offered a particular satisfaction. The burly, bespectacled Briton, who followed Michael Schumacher from Benetton to Ferrari as technical director and then won a title with his own Brawn team in 2009 before it became Mercedes, was barely a toddler when Mercedes last won a grand prix as a works team. “As someone reminded me, I was one year old when we last won a race,” the 57-year-old told reporters after Sunday’s triumph. “So it is a very special victory and made all the sweeter because it is Nico’s first. And I am really delighted, because I told him once that it was my ambition to help him win his first race and we’ve achieved it.” The accepted view before Shanghai was that the Mercedes was a quick qualifier but still lacked the
sticking power in a race to be a real contender. When Rosberg secured the first pole of his career, at the 111th attempt, with 43-year-old Schumacher alongside on the front row for the first time since he was at Ferrari in 2006, the paddock pundits agreed that was probably as good as it would get for the ‘Silver Arrows’. Instead, Rosberg roared away into the distance in Shanghai and the car was so smooth on its tyres that at the end of the race, the 26-year-old still had a spare unused set sitting on a shelf in the garage. The standard wisdom in Formula One holds that winning a race or title generally opens the floodgates. There are plenty of examples of that happening, just as there are cases of the opposite. Brawn suspected there would be quite a few more even if Rosberg, who speaks a fistful of languages fluently and turned down a place to study engineering at university to go racing, was not one to get overly excited. -Reuters
Batsman Shane Watson of Australia hits a four as West Indies wicketkeeper Carlton Baugh (left) watches during a Test match between Australia and West Indies, April 15, 2012. (AFP)
tuesday, april 17, 2012
Sports Editors Highlight
LONDON: Chelsea have apologized after some of the club’s fans jeered and chanted during a minute’s silence before Sunday’s FA Cup semi-final to remember those who died in the Hillsborough tragedy. The tribute at Wembley was cut short because of the noise from the Chelsea end and the London club issued a statement condemning those who failed to remain silent. “Chelsea FC believes all moments of respect should be honored and today we pay our full respects to all those that suffered as a result of the Hillsborough disaster 23 years ago. The club will be working with Wembley and the FA to identify those responsible and if we are provided with evidence that season-ticket holders or members have been involved we will take the strongest possible action against them.” -Reuters
Teamwork key to halt Ronaldo: Bayern’s Lahm BERLIN: Bayern Munich captain Philipp Lahm has insisted only good team work will help his team halt Real Madrid’s record goal-scorer Cristiano Ronaldo in Tuesday’s Champions League semifinal. Real warmed up for the first leg in Munich with a 3-1 win over Spanish league strugglers Sporting Gijon on Saturday when Ronaldo scored his 41st league goal of the season. It is a record achievement currently matched only by Barcelona’s Lionel Messi. Ronaldo also netted his 100th Spanish league goal in Madrid’s 5-1 win over Real Sociedad last month, making him the quickest Real player to reach his century in 92 games. He broke Ferenc Puskas’ previous mark of 105 matches which the legendary Hungarian wing set in the 1960s. Portugal star Ronaldo has scored 59 times in 55 games for club and country this season, but Lahm says taking on a player of his stature and reputation is something for any professional footballer to relish. “You have to have a lot of respect for someone like him, especially after what he has achieved,” said the German captain. “I know what he has had to do to reach that level, you have to work really hard and he is the sorts of player you want to play against and compare yourself to.” The Bayern right-back will be tasked with con-
taining Ronaldo down his flank, but the 28-year-old German insists it will be a team effort. “I think you have to talk about the whole team, we need to work together, stand together and be organized and then you have the chance to nullify a player like that, but things can happen fast,” said Lahm. “You can’t eradicate any single player, besides we have players like (Arjen) Robben, (Thomas) Mueller and Toni Kroos they will need to worry about.” Bayern trainer Jupp Heynckes, who coached Real Madrid to the 1998 Champions League title, said Munich can ill afford to worry about just one player. Bayern have never been beaten by Real Madrid in Munich in their nine previous meetings in the Bavarian capital, but Lahm says history will count for nothing come kick-off. “That is the past, they will try everything and they will have chances,” he said. “Our job is to go for it, we will have to give a great performance and fight from the start. It is two or three little situations which can win the game, we will do everything we can, but even if we don’t win at least a 0-0 will be something. It’s a mix, you have to defend well, it would be great if we don’t concede a goal, but as a defender you have to try and go forward too. It’s important we are aggressive and we fight from the first until the last minute.” -AFP
Goal-line tests this month before July vote
Di Natale unsure of future after Morosini death MILAN: Udinese captain Antonio Di Natale said he has questioned his own future in the game after the tragic death of former team-mate Piermario Morosini. Morosini, 25, collapsed and died during a second division game between Livorno, where he was on loan from Udinese, and Pescara on Saturday, prompting the suspension of all Italian football at the weekend. Di Natale, 34, said that footballers were now being asked to play too much, although he did not attribute that as a factor in Morosini’s death. “I’m speaking for myself because I’ve been playing football for 18 years,” he added. “Playing twice a week is very difficult, Italian football is going too fast. But I think what happened to Mario was bad luck.”
Malaga’s push for third checked by Real Sociedad
Inter Milan’s Diego Milito heads the ball to score past Siena’s goalkeeper Gianluca Pegolo during their Italian Serie A soccer match at the San Siro stadium, Milan April 11, 2012. (AFP)
WEMBLEY, England: The final phase of goal-line technology tests will begin this month before soccer’s rule-makers make a definitive decision in July, FIFA said Sunday after another high-profile controversy. Chelsea reached the FA Cup final with a 5-1 victory over Tottenham, with replays indicating that Juan Mata’s shot never crossed the line for Chelsea’s second goal. The International Football Association Board, the game’s rule-making body, last month approved two systems to go into a second round of testing in match scenarios before either can be sanctioned for use in competitive fixtures at a meeting July 2. “The latest planning meeting for test phase two was held on Friday, and the second phase of tests will commence before end of April, and will continue throughout May,” FIFA said in a statement to The Associated Press. IFAB must be satisfied with the speed and accuracy of Hawk-Eye or GoalRef before high-tech aids for referees can be deployed in football for the first time. Sony Corp.’s Hawk-Eye is a camerabased ball-tracking system successfully deployed in tennis and cricket. GoalRef, owned by a German-Danish company, uses a magnetic field with a special ball. Both systems send a signal within a second of the ball crossing the line to the referee, who will retain the power to make the final call. In Sunday’s game at Wembley Stadium, television replays quickly indicated that Mata’s shot at the start of the second half didn’t cross the line when it was bundled clear by Tottenham defender Benoit Assou-Ekotto, who was lying on the turf on the goal line in a scramble. “It was nowhere near the line,” Tottenham midfielder Scott Parker said. “I had a perfect view. Four players were covering the line, so how the ball could’ve got over the line, I don’t know. The linesman said he didn’t make the decision. The ref took it
upon himself.” Martin Atkinson, the FIFA-accredited referee who awarded the goal, will be one of UEFA’s goal-line assistants for Howard Webb at the June 8-July 1 European Championship. Even Chelsea players later accepted their second goal should not have been given when they were leading 1-0 in the semifinal. “We’ve been calling for goal-line technology for a very long time,” Chelsea defender John Terry said. “Let’s hope that people make the right decisions on approving it.” FIFA’s support for goal-line technology had wavered until a high-profile blunder at the 2010 World Cup involving Terry’s England convinced President Sepp Blatter that any further embarrassments had to be avoided at major tournaments. A shot by Chelsea’s Frank Lampard in a game against Germany at the World Cup in South Africa bounced off the crossbar and landed beyond the goal line but did not count as England was knocked out of the competition. FIFA is hopeful one of the systems will be ready for use at the Club World Cup in December in Japan, but the Premier League hopes it could fast-track technology into its 20 grounds before the new season starts in July. The disputed goal at Wembley on Sunday revived memories of a famously controversial goal there in the 1966 World Cup final between England and Germany. They were drawing 2-2 in extra time when Geoff Hurst’s shot struck the underside of the crossbar, bounced down and spun back into play. That time, the referee consulted his linesman, who awarded the goal for England. Hurst went on to score a third goal as England won 4-2. For a change to the rules to be approved, six votes are required on IFAB, which is comprised of the four British associations plus four FIFA delegates. -AP
Real Madrid’s Portuguese forward Cristiano Ronaldo celebrates his goal during the Spanish League football match Real Madrid against Sporting of Gijon, April 14, 2012. (AFP)
Di Natale said he was struggling to cope with Morosini’s death and had already thought about retiring – but insisted he had not made any firm decision. “We’ll try to play the last six games for Mario. I’ll play for him and then we’ll see,” he told Radio Monte Carlo. “He was a fantastic kid who came to training with a smile. I haven’t slept for two days because it’s impossible with what’s happened. I’ve known him for seven years, he never let on that he didn’t have a father or mother. He always had a smile on his face and always helped everyone. I only found out a couple of years ago about his problems. He was a lad who wanted to live and make everyone else live. It’s not normal to die at 25. I will do whatever I can to help his sister.”
MADRID: Malaga were held 1-1 by battling 10-man Real Sociedad on Sunday, which prevented them from taking advantage of Champions League qualification rivals Valencia’s 4-0 thrashing at Espanyol earlier in the day. It looked to be going Malaga’s way when Isco put them ahead after 19 minutes with a fine shot from 25 yards that flew into the top corner and Real Sociedad’s Mikel Gonzalez was then dismissed before the break after receiving a second yellow card. However, Xabi Prieto brought Real Sociedad level after 48 minutes with an excellent volley from the edge of the area and although Malaga pressed forward for the winner, they could not put the ball in the back of the net. A disappointing Valencia crashed at Espanyol, who kept their own European hopes alive with their first win in almost a month. Valencia had been in good form recently, having picked up a point at the Bernabeu against Real Madrid and qualified for the semi-finals of the Europa League, but they caused little danger against Espanyol, who took their chances well. Following a slow start with little danger at either end, Espanyol took the lead after 25 minutes, with Cristian Gomez slotting the ball home inside the area after good work from Sergio Garcia on the right wing. Valencia had little time to respond as just four minutes later they fell further behind, with Joan Verdu firing a delightful left-foot shot into the top corner from 25 yards. An error from Valencia goalkeeper Vicente Guaita led to substitute Alvaro Vazquez adding another for Espanyol in the second half and then Kalu Uche finished clinically with 11 minutes left to complete the scoring. Later, a Fernando Llorente header after 12 minutes gave Athletic Bilbao a 1-0 win over Real Mallorca. It was only the second victory in eight matches for Marcelo Bielsa’s side, whose league form has been affected by their exploits in the Europa League, where they beat Manchester United and Schalke on the way to reaching the semi-finals. Atletico Madrid are level with Bilbao on 45 points after they responded to their defeat by neighbours Real Madrid with a 1-0 victory in their second derby in succession against Rayo Vallecano. Top scorer Radamel Falcao claimed the game’s only goal in the second half but despite the win, they are still a point off sixth-placed Osasuna, who were beaten 1-0 by Real Betis. At the bottom of the table, Real Zaragoza beat Granada 1-0 and Villarreal drew 1-1 with Racing Santander. -AFP
Morosini’s parents both died while he was still a teenager and his brother, who was disabled, committed suicide soon afterwards. Now with his death, he leaves behind a disabled older sister. Udinese have vowed to look after her now that she is left with no immediate family and have opened up a bank account in her name to which people can make donations. “There are many players in the top two divisions who want to help this girl. Mario was very close to her and now we’ll all try to give a helping hand,” added Di Natale. According to Udinese, she has a serious psychological disability and has spent many years being treated in a psychiatric institution in the family’s home city of Bergamo. -AFP
PSG fluff chance to exploit Montpellier setback
Paris French midfielder Jeremy Menez (center) vies with Auxerre French defender Cedric Hengbart and Auxerre Swiss defender Stephane Grichting during a French L1 football match, April 15, 2012. (AFP)
PARIS: Paris Saint-Germain failed to capitalize on leaders Montpellier’s slip-up against Lorient after conceding an 87th-minute goal to draw 1-1 at Ligue 1’s bottom side Auxerre on Sunday. With Montpellier having gone down 2-1 at Lorient earlier in the day, PSG were bidding to draw level on points at the top of the table but Anthony Le Tallec’s late equaliser left them two points behind the leaders with six games to play. After Jeremy Menez grazed the post following a neat back-heel from Kevin Gameiro, PSG forward Nene broke the deadlock in the 23rd minute when he steered the ball past Olivier Sorin to claim his 14th league goal of the campaign. Auxerre midfielder Kamel Chafni hit the post after wriggling through the PSG defence in the 53rd minute, while visiting goalkeeper Salvatore Sirigu had to produce a smart save to repel Dennis Oliech’s header moments later. Substitute Sylvain Armand almost scored an own goal with nine minutes to play before Auxerre’s pressure finally told, with substitute Le Tallec tapping home after Sirigu had fumbled a low shot from Omar Kossoko. Despite striking a potentially pivotal blow in the title race, Auxerre remain five points adrift of safety. At Lorient, the hosts took the lead in the 69th minute when Montpellier left-back Henri Bedimo inadvertently headed Mathias Autret’s left-wing cross into his own goal. On-loan Arsenal forward Joel Campbell
doubled Lorient’s advantage in the 77th minute, cutting in from the right flank and shaping a fine, left-footed strike inside the lefthand post. Olivier Giroud brought Montpellier back into the game within seconds, deftly touching home a right-wing cross from Karim Ait-Fana to take his tally for the season to 20 goals, but the equaliser would not come. Lorient had won just one of their previous 16 league games but the win put them two points clear of the relegation zone. “We were playing our third match of the week and we lacked juice,” said Montpellier coach Rene Girard. “The players know they’re the leaders and you can’t ignore that. But you have to deal with it. We know it’ll be complicated. There are big matches coming up and we have to make sure we don’t ease up.” Champions Lille kept a firm grip on third place and closed to within seven points of top spot by beating Ajaccio 4-1. After Yoann Poulard put through his own goal in the 16th minute to gift the hosts the lead, Lille pulled clear through further efforts from Joe Cole (his first league goal since December 21), substitute Gianni Bruno and Eden Hazard. Fourth-placed Lyon, beaten 1-0 by Marseille in Saturday’s French League Cup final, are now six points behind Lille and visit sixthplaced Toulouse on Wednesday. Sochaux gave their bid to avoid relegation a shot in the arm with a 1-0 win at home to Dijon that moved them level on points with fourth-bottom Caen. -AFP
Published on Apr 16, 2012