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TUESDAY, MAY 22 , 2012

@alwatandaily

Issue No. 1442

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www.alwatandaily.com

150 Fils with IHT

Finance Minister to face interpellation today

Mohammed Al-Salman, Mohammed Al-Khaldi, Osama Al-Qatari and Ahmed Al-Shemmari Staff Writers

KUWAIT: The Minister of Finance Mustafa Al-Shamali, who issued a ministerial decree on Monday suspending the Director General of the Public Institution for Social Securities, Fahad Al-Rajaan for pending investigations, is due to face questioning today over an array of financial allegations. Reportedly, the minister will bring along highly important documents to refute the claims contained in the interpellation motions filed by Member of Parliament (MPs) Obeid Al-Wasmi, Abdurrahman Al-Anjeri and Khaled Al-Tahous. Parliamentary sources revealed that a no-confidence vote is ready to file against the minister at the end of the deliberations. In the meantime, an official source affirmed that the minister has a strong case to make, adding that his defense is likely to convince undecided MPs. The source also denied that Al-Shamali has any immediate plans to resign or to move to another Cabinet post, while reiterating government’s support for the minister’s desire to refute the allegations. He added that the decision is in line

with the government’s policy of facing interpellations, in accordance with the provisions of the Parliament’s Internal Charter. Further, the source disclosed that the Cabinet has listened to a balanced and convincing performance from Al-Shamali as he rehearsed the refutation of the claims, pointing out that the Cabinet assigned the Minister of State for Cabinet Affairs and the Foreign Minister Sheikh Sabah Al-Khaled Al-Sabah to counter any disorder over the course of the session. It has been gathered that the Cabinet will call on the National Assembly Speaker Ahmad Al-Saadoun to enforce the Parliament’s Internal Charter and ensure order during the session. In a statement issued after its meeting, the Cabinet expressed hope that the two interpellation motions against the minister will be debated in accordance with objective parliamentary norms that serve public interest. It equally reaffirmed support for Al-Shamali out of its unshaken conviction of his position, and reiterated commitment to the Constitution and the law. A source within the Majority Bloc revealed that the interpellators possess ‘critical’ documents that they might have to reveal during the session. In addition, they reportedly have visual material which they may request to display.

Cabinet approves terminating Al-Mudaf, refers decision to legislation

Abdullah Al-Shemmari & Mohammad Al-Salman Staff Writers

KUWAIT: The Kuwaiti cabinet convened its regular weekly session at AlSief Palace here on Monday under the chairmanship of His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah. The Cabinet approved the decision made by Minister of State for Housing Affairs and Minister of State for National Assembly Affairs Shuaib Al-Muwaizri to terminate Director of Credit and Savings bank Salah Al-Mudaf. The Cabinet decided to refer the issue to the Fatwa and Legislation Department to ensure the safety of procedures. Deputy Prime Minister and Minister of Finance Mustafa Al-Shamali briefed the meeting on the two grilling requests tabled against him at the National Assembly (Parliament) on May 7 by MP Obaid Al-Wasmi (the first interpellation) and MPs Khalid Al-Tahous, Abdulrahman Al-Anjari and Mosallam Al-Barrak (the second). He explained his responses to the points of the interpellations, affirming that his More on 2 position is legally sound.

UN worried about Syria’s effect on Lebanon, civil war risk

CONTINUED ON PAGE 2

New rules to boost Kuwait capital markets

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Yemen bomb is response to US war: Al-Qaeda

SANAA: Al-Qaeda’s wing in Yemen said a suicide bombing on Monday that killed 90 people was in revenge for what it called the US war on its followers in southern Yemen and that it had targeted the Yemeni defense minister and his top commanders. The group also warned in a statement received by Reuters that more attacks will follow if the military campaign in the southern province of Abyan did not stop. “We will take revenge, God willing, and the flames of war will reach you everywhere, and what happened is but the start of a jihad project in defense of honor and sanctities,” the statement, addressSee also 4 ing Yemeni military commanders, said. -Reuters

An annular solar eclipse is seen from Tokyo on May 21, 2012. For the first time in 932 years, a swathe of the country was able to see the annular solar eclipse, when the moon passes in front of the sun, blocking out all but an outer circle of light. The annular eclipse was visible to wide areas across China, Japan and elsewhere in the region before moving across the Pacific to be seen in parts of the western United States. (AFP) More on 15

Foreign Ministry warns citizens of travelling to Lebanon

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Budget surplus of KD 3 -13 billion expected for fiscal year, 14th consecutive surplus Compiled by Al Watan Daily

Lebanese students and activists hold “No War” signs, placards and Lebanese flags at an anti-war protest in downtown Beirut’s Martyrs Square May 21, 2012. (Reuters)

UNITED NATIONS: UN Secretary-General Ban Ki-moon expressed concern on Monday that violence from the 14-month conflict in Syria could spread to neighboring Lebanon, and reiterated his fear that the Syrian violence may erupt into a full-scale civil war. In a readout of a meeting between Ban and new French President Francois Hollande on the sidelines of the NATO summit in Chicago, the UN press office wrote that Ban said the world is at “a pivotal moment in the search for a peaceful settlement to the crisis.” Ban was “extremely troubled about the risk of an all-out civil war (in Syria) and was concerned about the outbreak of related violence in Lebanon,” the UN statement said. At least two people were killed in heavy fighting between rival Sunni Muslim gunmen in Beirut on Monday, medical and security sources said, in the latest violence fueled by tensions over the uprising against Syrian President Bashar Al-Assad. UN special coordinator for Lebanon Derek Plumbly also voiced concern about the fighting and called on all the parties to stop fighting. “Differences must be addressed through dialogue, not resort to violence,” he said in a statement. UN spokesman Farhan Haq told reporters in New York that Plumbly was in contact with all parties in Lebanon’s government, which would include the pro-Syrian Shiite Muslim militant movement Hezbollah. Many of Lebanon’s Sunni Muslims sympathize with the Sunni-led uprising in Syria against Assad, whose father sent forces into Lebanon during its 19751990 civil war. The Syrian army finally pulled out in 2005 under international pressure. But Assad retains powerful allies in Lebanon, including Hezbollah and its pro-Syrian Christian partners in Prime Minister Najib Mikati’s government. The United Nations has a peacekeeping force in Lebanon in the Hezbollah stronghold south of the Litani River. Asked about a possible redeployment of the force, known as UNIFIL, in light of the recent violence, Haq said it would need to change its UN Security Council mandate to deploy north of the Litani. “We’re not looking at that for the time being,” he said. The UN Interim Force in Lebanon (UNIFIL) was expanded after the 2006 war between Israel and Hezbollah and now has around 12,000 peacekeepers. Last week, Syria’s UN Ambassador Bashar Ja’afari sent a letter to Ban and the U.N. Security Council accusing some Lebanese factions of “incubating” AlQaeda and the Muslim Brotherhood and helping them to take root along the Syrian border in order to launch attacks on Syria. He also accused Turkey and Libya of arming Syria’s opposition, which forces loyal to Assad have tried unsuccessfully for more than a year to crush, killing more than 10,000 people in the process, according to the United Nations. In comments that appeared to bolster the Syrian government’s complaints about foreign militants, Ban said last week that he believed Al-Qaeda was responsible for two suicide car bombs that killed at least 55 people in Syria last week. But the United Nations later said that there was no hard evidence for the charge. -Reuters

KUWAIT: Oil revenues are expected to reach 28.2 billion Kuwaiti or 45 percent higher than the previous year, based on average Kuwait Export Crude (KEC) prices of 110 US dollars per barrel (pb), according to a specialized report on crude oil and budget projections prepared by the National Bank of Kuwait (NBK). If as expected, spending comes in at 5-10 percent below the government’s budget, last year’s budget surplus could close between KD 11.3 billion and KD 12.4 billion before allocations to the Reserve Fund for Future Generations (RFFG). Official figures for the first eleven months of the year show a surplus of KD 16.1 billion, but this surplus should decline once late spending is included. According to the report, oil prices saw significant declines through April and continued to fall in early May. From a peak of $124 pb in mid-March, the

price of KEC had fallen to under $109 by May 8, including a sharp drop in the final few days. Prices have now returned to the $100-110 pb range that endured for most of 2011. Brent crude has fallen $16 from its March peak of $128 pb, while West Texas Intermediate (WTI) - the main US benchmark crude - has dropped back below $100 for the first time since February, stated the report. Analysts’ projections for oil demand growth are little changed over the past month, but some had already come down a long way since the start of the year. The International Energy Agency, for example, has reduced its demand growth outlook for 2012 to 0.8 million barrels per day (mbpd) (0.9 percent) from 1.3 mbpd (+1.4 percent) in December. Alongside weaker economic growth, higher oil price assumptions have contributed to the downward revisions to demand; recent price falls, therefore, could prevent demand pessimism from More on 9 gathering.

Climate scientists say they have solved riddle of rising sea

PARIS: Massive extraction of groundwater can resolve a puzzle over a rise in sea levels in past decades, scientists in Japan said on Sunday. Global sea levels rose by an average of 1.8 millimeters (0.07 inches) per year from 1961-2003, according to data from tide gauges. But the big question is how much of this can be pinned to global warming. In its landmark 2007 report, the UN’s Nobel-winning Intergovernmental Panel on Climate Change (IPCC) ascribed 1.1mm (0.04 inches) per year to thermal expansion of the oceans -- water expands when it is heated -- and to meltwater from glaciers, icecaps and the Greenland and Antarctica icecaps. That left 0.7mm (0.03 inches) per year unaccounted for, a mystery that left many scientists wondering if the data were correct or if there were some source that had eluded everyone. In a study published in the journal Nature Geoscience, a team led by Yadu Pokhrel of the University of Tokyo say the answer lies in water that is extracted from underground aquifers, rivers and lakes for human development but is never replenished. The water eventually makes it to the ocean through rivers and evaporation in the soil, they note. Groundwater extraction is the main component of additions that account for the mystery gap, according to their paper, which is based on computer modeling. “Together, unsustainable groundwater use, artificial reservoir water impoundment, climate-driven change in terrestrial water storage and the loss of water from closed basins have contributed a sea-level rise of 0.77mm (0.031 inches) per year between 1961 and 2003, about 42 percent of the observed seaMore on 15 level rise,” it says.

Nadal dominates Djokovic to win Rome Masters

ROME: Rafael Nadal won his sixth Rome Masters title in a rain-postponed final against Novak Djokovic here on Monday, defeating the world number one 7-5, 6-3. It was sweet revenge for a straight sets loss to the Serb in last year’s final and the win means that he will move back ahead of Roger Federer at number two in the world rankings. It was also the perfect preparation for the defense of his French Open title with the tournament due to get under way in Paris on Sunday and takes his career head-to-head with his rival to 18-14 in his own favour. It meant that Nadal won claycourt titles in Monte Carlo, Barcelona and Rome with his only loss coming in Madrid where he went down to compatriot Fernando Verdasco. Djokovic failed to win a claycourt title as he prepares to go into Roland Garros where he is aiming to make it four Grand Slam titles in a row after winning Wimbledon and the US Open crowns last year and the Australian Open early this year. In a final held over from Sunday because of rain, Nadal immediately pounded out two break points on the opening

Djokovic serve, but the Serb saved both with powerful backhands. There were two more break points for the Spaniard in the fifth game as Djokovic made a mess of an overhead smash and Nadal converted the second of these, easily running down a poorly-executed Djokovic drop-shot. But just as Nadal seemed to be taking command, Djokovic earned his first break point of the match in the following game which he took as an out-of-position Nadal flopped a forehand into the net. And two games later he had Nadal back-pedaling again with a series of punishing drives from the baseline only for a bad line-call to rob him of a first set point. Nadal leveled at 5-5 and then, on the back of some stupendous defending, he grabbed a second break of serve and made good on it by outgunning Djokovic in a thrilling exchange of shots at the net. Still riled by the line-call, Djokovic smashed his racquet at the exchange of ends and was warned by the umpire before Nadal comfortably served out to pocket the first More on 19 set in 76 minutes.

London 2012 Paralympics ‘to be biggest in history’

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A man passes a mini covered in flowers on the Birmingham City Council stand during the press day at the Chelsea Flower Show in London May 21, 2012. (Reuters)


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ALWATAN DAILY

kuwait

tuesDAY, may 22, 2012

Cabinet approves terminating Al-Mudaf, refers decision to legislation Abdullah Al-Shemmari & Mohammad Al-Salman Staff Writers

KUWAIT: The Kuwaiti cabinet convened its regular weekly session at Al-Sief Palace here on Monday under the chairmanship of His Highness the Prime Minister Sheikh Jaber Al-Mubarak AlHamad Al-Sabah. The Cabinet approved the decision made by Minister of State for Housing Affairs and Minister of State for National Assembly Affairs Shuaib AlMuwaizri to terminate Director of Credit and Savings bank Salah Al-Mudaf. The Cabinet decided to refer the issue to the Fatwa and Legislation Department to ensure the safety of procedures. Deputy Prime Minister and Minister of Finance Mustafa Al-Shamali briefed the meeting on the two grilling requests tabled against him at the National Assembly (Parliament) on May 7 by MP Obaid Al-Wasmi (the first interpellation) and MPs Khalid Al-Tahous, Abdulrahman Al-Anjari and Mosallam Al-Barrak (the second). He explained his responses to the points of the interpellations, affirming that his position is legally sound. Acknowledging the constitutional right of the MPs to supervise the performance of the executive authority, the Cabinet stated support to Al-Shamali “who is known for integrity, dedication and strict compliance to legal provisions” and voiced hope that the planned grilling moves will follow the sound democratic practices in order to serve national interests.

Al-Shimali, who doubles as Chairman of the Civil Service Commission, made a presentation on the amendments to the Cabinet Decree No 676 for 2009 (first article) on benefits for the private sector retirees; the cabinet approved the amendments, which provide for extending the term of the decree until December 31, 2012. The Cabinet expressed support to Deputy Prime Minister and Minister of Finance Mustafa Al-Shamali who is facing two interpellations, affirming confidence in the safety of his situation and his keenness to abide by constitution and the law. The meeting discussed the suggestions of the Government Performance Follow-up Apparatus for ending the financial and administrative irregularities in the light of the report of the State Audit Bureau; the suggestions include activation of the auditing an supervisory bodies at different state departments according to their respective internal statutes and working out a timetable for the enforcement of relevant recommendations. Meanwhile, the Cabinet approved a draft law on approving the bylaw of the International Agency for Renewable Energy, and the approval was raised to His Highness the Amir to refer it to the Parliament. Out of the government’s keenness to address the issue of citizens laid off some private companies, and upon the proposal made by Minister AlShamali, the Cabinet approved amending some articles of Cabinet decision no. (676/first) for 2009, on those whose services ended in private sector, and allowing laid offs until Dec. 31, 2012 to ben-

New road projects to be included in development plan worth KD 4 billion: Al-Niqi Mervat Abduldayem Staff Writer

KUWAIT: Minister of Public Works Undersecretary for Roads Sector Engineer Soud Al-Niqi has announced that new road projects will be included in the development plan of the State for the coming years estimated at four billion Kuwaiti dinars, including projects which are being implemented or expected to be awarded. He added that the project of Al-Nuwaisib Road will be floated soon. In a statement to Al Watan, Al-Niqi said that these projects include the development of Jahra and Jamal Abdulnasser streets, the development of the First Ring Road, which will be completed by the end of this month. He noted that 15 intersections are being built in different areas in Kuwait, adding that the two projects will be completed by the end of the current month, another project will be completed by next September and other four projects to be completed within next year. He added that four projects will be floated in the near future as well, noting that they are being discussed with the Cen-

tral Tenders Committee, including the development of Third Ring Road, Damascus Street and the entrances of Sheikh Jaber Al-Ahmad City. He added that the contract of the projects of the entrances of Saad AlAbdullah City has been earlier signed. Regarding the development of Al-Nuwaisib Road, Al-Niqi said that frequent accidents take place on the road so it will be developed in order to avoid this problem. Regarding the development of the Airport Road, mainly the part between the intersection with the Fourth Ring Road until the sea, Al-Niqi said that a study showed that two drainages need to be build in order to make the road safer during rainy season. He said that the contractor will be fined if the projects are delayed, noting that the project is expected to be completed within four months. Regarding the progress of the development of Jamal Abdulnasser Street, Al-Niqi said that work is going on around the clock, noting that the first phase of the project is being implemented. He expected that a temporary road will be built in the first phase, between Jahra Roundabout and the Second Ring Road, in order to complete the work.

Al-Muwaizri could solve housing issue in few weeks: Sources Abdullah Al-Shemmari Staff Writer

KUWAIT: Housing sources revealed to Al Watan that a new obstacle was added to the one facing the new housing projects in Kuwait. The sources said that the main obstacle has always been the rarity of lands but over the few past years a new obstacle has occurred which is the inability of power and water networks to cover the new projects. The sources said that this issue was one

efit of the decision. At the beginning of the session, the Cabinet read the letter sent to His Highness the Amir by President of Palestinian Liberation Organization on mutual relations and issues of mutual interest. The Cabinet members welcomed the visit of Albanian President Bamir Topi plans to pay to Kuwait on Sunday, May 27; they voiced best wishes for the leader of friendly Albania and his delegation. Deputy Prime Minister, Foreign Minister and Minister of State for Cabinet Affairs Sheikh Sabah Al-Khalid Al-Hamad Al-Sabah made the press remarks after the meeting. The meeting was briefed on the message recently received by HH the Amir Sheikh Sabah AlAhmad Al-Sabah from Palestinian President Mahmoud Abbas dealing with bilateral ties and issues of common concern, Sheikh Sabah Al-Khalid told reporters. The Cabinet was also briefed on the message to the Amir from Turkish President Abdullah Gul dealing with efforts of the Organization of the Islamic Cooperation (OIC) to promote trade among OIC member states, activate the preferential treatment for their products and finalize the procedures for the endorsement of a framework treaty on the rules of origin and the protocol thereto. They also discussed the message to the Amir from Iranian President Mahmoud Ahmadinejad entailing an invitation for HH the Amir to take part in the 16th summit meeting of the leaders of the Non-Aligned Movement (NAM) member states, due in Tehran in August.

The Cabinet is seen holding its weekly meeting under the chairmanship of the Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah on Monday, May 21, 2012. (KUNA)

Legislative Committee rejects banning MP Juwaihel From entering parliament Staff Writer

KUWAIT: The Legislative and Legal Committee Rapporteur and Member of Parliament (MP) Mohammed Al-Dallal mentioned that the committee had discussed yesterday three proposals concerning MP Mohammed Al-Juwaihel, and the assignment it received from the National Assembly. He explained that Al-Juwaihel committed a grave violation and offended MP Mohammed AlMattar. Several MPs have called for banning Al-Juwaihel from taking part in parliamentary committee meetings, and all the MPs and ministers voted for that. He mentioned that some MPs have proposed to ban Al-Juwaihel from entering the National Assembly, and to enforce Articles 111 and 118 from the bylaw. They also called for arresting Al-Juwaihel for being drunk. The Legislative Committee looked into the proposals based on a request from the Speaker of National Assembly MP Ahmad AlSaadoun. The committee decided to enforce Ar-

ticle 89 and to ban Al-Juwaihel from attending parliamentary sessions and committee meetings for two weeks. Al-Juwaihel will also not be allowed to enter the National Assembly on Tuesday and Wednesday. Al-Dallal said that Al-Juwaihel was banned from entering the committees, which led to his absence during the Legislative Committee’s meeting. He noted that the committee reached the conclusion to reject requests that called for banning Al-Juwaihel from entering the National Assembly, since Article 89 has specific penalties and procedures that can be enforced in case of violations; however, those penalties do not include banning Al-Juwaihel from entering the National Assembly. Regarding the case of being drunk, the committee believes that this case is related to a specific time, and if no action was taken at that time, then no penalties can be taken now. He went on to say that the report that will be submitted to the National Assembly will include recommendations to review the articles of the bylaw concerning vi-

Jahra Municipality launches new campaign for removing violations

Abdullah Al-Najar Staff Writer

KUWAIT: The Minister of Social Affairs and Labor Lieutenant General Ahmad Al-Rujaib affirmed that the recent attack against him by the MP Al-Saifi is in response to a previous incident that occurred between the both parties when AlRujaib was working at the Ministry of Interior in 2009. The incident occurred during a telephone call that took place immediately after the last parliamentary election, and before the lawmaker takes oath at the National Assembly. The minister replied to the statement of Al-Saifi saying “I heard the statements given by the MP during an interview with Al-Watan TV and read the very statements through media means. The MP directed several unreasonable accusations against me and impeached my loyalty and accused me of endangering the national unity as well,” said Al-Rujaib. The minister said that lawmaker Al-Saifi “doesn’t care about national unity since he is known for accusing others every now and then. We hope the MP would stop accusing us of being against tribes in Kuwait because I respect all Kuwaiti tribes and the members of tribes too.”

Finance Minister to face interpellation today CONTINUED FROM PAGE 1

of the main issues that have been discussed during the meeting involving Minister of Housing Affairs Shuaib Al-Muwaizri, Minister of Electricity and Water Abdulaziz Al-Ibrahim and Minister of Oil Hani Hussein about two months and a half ago. The sources said that people who received lands in Sabah Al-Ahmad City haven’t been allowed to build yet in order not to face the problem of the unavailability of power. They expected that Minister Al-Muwaizri and Minister Al-Ibrahim could reach a solution within the coming few weeks.

Al-Rujaib says MP Al-Saifi’s statements are ‘unreasonable’

olation of order, defamation, and parliamentary values, because they are incomplete. The committee called for not limiting the ban to two weeks, but to extend it to one month, in addition to being banned from representing the National Assembly overseas, and partial deprivation of MP’s bonus. However,Al-Dallal explained thatAl-Juwaihel can attend today’s National Assembly session as a Kuwaiti citizen among other citizens, and if he disrupts the session, he will face the penalties that regular citizens face in such cases. In another development, Al-Dallal stressed that the interpellation of Minister Finance Mustafa Al-Shamali is deserved, and that today’s session is important. He added that the minister is not facing an interpellation for violations, but for being one of the key people managing the state’s budget. He stressed that the state’s budget is unstable, deteriorating, and poor. He warned against government tactics to render the interpellation obsolete.

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

KUWAIT: Jahra Municipality launched a new campaign to pursue removing all violations in Amghara area. The campaign started following instructions by the Minister of Electricity and Water and the Minister of State for Municipality Affairs Engineer Abdulaziz Al-Ibrahim and followed up by the General Manager (GM) of Kuwait Municipality Ahmad Al-Sabeeh. The campaign aims at cleansing the area that surrounds Saad Al-Abdullah residential area which led to removing 10 cars that were abandoned for a long period of time as well as tens of used tires.

The campaign was headed by the Supervisor of Jahra Municipality Faihan Al-Metairie. Meanwhile, he affirmed that the municipality will pursue launching such campaigns until cleansing all areas that surround Saad Al-Abdulla. He emphasized that the area should always be clean because it is located near a residential area and that the municipality aims at setting aside a clean environment for all people. Al-Metairie added that all cars were sent to the car impounding site in Amghara and owners of those cars will not get them back unless they pay the assigned fees.

Al Watan has learnt that the Majority MPs, who are expected to speak in favor of the interpellations, include Musallam Al-Barrak, Mohammad Al-Dallal and Waleed Al-Tabtabaie. On the other hand, MPs Adnan Abdulsamad, Ali Al-Rashed and Mohammad Al-Saqr are due to speak in favor of the minister. For his part, Al-Tabtabaie expressed opposition to the idea of redeploying Al-Shamali, which, he insists, will prevent him from facing the parliamentary tool of questioning, and argued that the Constitution does not provide for a reshuffle to offer an escape for a minister. Speaking to Al Watan, the lawmaker stressed that expressing opinion about the performance of a minister is an entitlement for an MP and does not constitute interference in the jurisdiction of the executive authority. “A mere hint at interpellation is considered to be a form of accountability, according to the explanatory memo of the Constitution,” he elaborated. Meanwhile, an MP within the Minority Bloc affirmed that the members will convene a meeting ahead of the session to coordinate over the interpellation. According to the lawmaker, members of the Minority Bloc will be opposed to the idea of allowing more time for the speakers during the session when their allotted time runs out. Additionally, they will firmly stand against any rowdy actions or violations that may occur over the course of the session. In the same vein, MP Mohammad Al-Dallal described the interpellation as “well-deserved” and billed today’s session as “very important”. “We are not merely questioning Al-Shamali for some of the violations. Rather, we are grilling him for being one of pivotal elements in the management of the budget, which has been weak and unstable,” the lawmaker said. Al-Dallal warned against government tactics aimed at undermining the interpellations amid reports that the executive authority may propose the discussion of one of the interpellations, while the other is deferred. “As long as the government has announced its readiness for the interpellations, it should deal with the issue in a transparent manner,” the lawmaker remarked, as he ruled out the prospect of unruly behaviors in the Parliament during the session. In another development, the Parliamentary Legislative Committee has rejected proposals, which call for the barring of MP Mohammad Al-Juwaihel from entering Parliament.


ALWATAN DAILY

KUWAIT

tuesdAY, may 22, 2012

Amir’s representative receives former UK culture minister LONDON: His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad AlSabah’s Representative, His Highness Sheikh Nasser Al-Mohammed A-Ahmad Al-Sabah, received Monday, United Kingdom’s former Minister of Culture David Miller, at his London residence. During the meeting, Miller urged Sheikh Nasser to convey sincere greetings and best wishes to the Amir and expressed admiration for knowing the Amir for more than 36 years. Miller also praised deep-seated ties between Kuwait and the UK. The meeting was attended by Kuwait Ambassador in London Khalid Abdulaziz Al-Duwaisan. Sheikh Nasser is representing the Amir to attend celebrations to mark Queen’s Elizabeth II Diamond Jubilee, or the 60th anniversary of coronation. -KUNA

Staff Writer

KUWAIT: Ministry of Foreign Affairs Undersecretary Khaled Al-Jarallah stated that the status in Lebanon does not require sending private aircrafts to bring Kuwaitis back home. However, the ministry urged Kuwaitis not to travel to Lebanon, and asked the citizens visiting to depart the country. Al-Jarallah revealed that the ministry is constantly communicating with the

Qahrmani praises bilateral relationships with Kuwait Jameel W. Karaki Staff Writer and Agencies

KUWAIT: The Iranian ambassador to Kuwait Rohallah Qahrmani praised the results of the visit of Dr Ali Akbar Salehi, Minister of foreign Affairs of the Islamic Republic of Iran and his meeting with his highness the Amir Sheikh Sabah Al Ahmad Al Sabah, hoping that the Higher Joint Committee of the two countries will meet within the next few weeks. Qahrmani asserted, in a press release, that the bilateral talks were held in a friendly, brotherly, transparent atmosphere, where both parties stressed on the need to improve the level of bilateral cooperation in political, commercial and educational fields. He pointed out that the outstanding attendance during the Iranian cultural evenings clearly shows the depth of commonalities that bind the two Muslim neighboring countries. He clarified that the success of the talks of trade, consular and legal commissions, which held its meetings in Kuwait recently, paved the way to heal the High Commission during next June. Qahrmani added that assigning Salehi to present the official invitation to His Highness the Amir to attend the conference of Non-Aligned Movement (NAM) in Tehran shows the importance of Kuwait’s position to Iran.

Foreign Ministry warns citizens of travelling to Lebanon

Nayef Kareem

His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Sabah’s Representative, His Highness Sheikh Nasser Al-Mohammad A-Ahmad Al-Sabah, receiving United Kingdom’s former Minister of Culture David Miller, at his London residence on Monday, May 21, 2012. (KUNA)

Salehi left for Kuwait on Sunday to meet with the Arab country’s leaders on bilateral ties and regional issues. Salehi was accompanied by a political and parliamentary delegation during the visit. Iran has the rotating presidency of the Movement for three years. NAM, which has 118 member states, is an international organization of states considering themselves not formally aligned with or against any major power bloc. NAM is the largest grouping of countries outside of the United Nations. NAM member states represent nearly two-thirds of the United Nations’ members and comprise 55 percent of the world population, particularly countries considered to be developing or part of the Third World. The movement is largely the brainchild of India’s first Prime Minister Jawaharlal Nehru, former President of Egypt Jamal Abdul Nasser, and former Yugoslav President Josip Broz Tito. It was founded in April 1955 and has 118 members. The purpose of the organization as stated in the Havana Declaration of 1979 is to ensure “the national independence, sovereignty, territorial integrity and security of non-aligned countries” in their “struggle against imperialism, colonialism, neo-colonialism, racism, and all forms of foreign aggression, occupation, domination, interference or hegemony as well as against great power and bloc politics.”

Cooperative Societies reduce prices of more than 100 food items KUWAIT: Chairman of Cooperative Societies Union Dr. Hussain Al-Dwaihees announced, on Monday price reduction of 10 to 25 percent on more than 100 food items, in an anticipation of the Holy month of Ramadan. Al-Dwaihees told Kuwait News Agency (KUNA) that price reduction is valid from June 3 up to three months. The reduction will be on all of the cooperative societiesbranded goods. This move is to help taking off the financial burden off consumers’ shoulders during the month of Ramadan. He highlighted the Ministry of Labor and Social Affairs’ role in holding these price-reduction campaigns throughout the year as an attempt to fight this onward surge of prices. –KUNA

Kuwait signs KD 3,747 million contract to Arabize health sciences KUWAIT: Minister of Public Works and Minister of State for Planning and Development Affairs Dr. Fadhel Safar signed a contract to establish and maintain a 3,747 million Kuwait dinars center for Arabizing health sciences. The project will be located in South Surra. It will be spread on a 5,825 square meters. It will be a four-story building that consist of offices, parking spaces, storages, and a printing and publishing house. The contract is spread over 370-day period. –KUNA

Egyptian charity organization ships 30 containers to aid unfortunate

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Kuwaiti embassy in Lebanonin order to monitor any updates regarding security issues there. He added that Kuwaiti Ambassador in Lebanon Abdul Al Al-Qenaei is currently locating all the citizens in Lebanon. He said that if the situation escalates in Lebanon, the embassy will coordinate with the Kuwaiti citizens to facilitate their departure. The contact numbers are: 0096171192919, 0096170056666, 009611822516, and 009611822517.

Summer season witnesses large number of travel bookings KUWAIT: A number of travel agencies in Kuwait started travel bookings for this summer vacations, during which the holy month of Ramadan would fall in July. The bookings between June 25 till mid of July are way more than the ones after Ramadan, starting from Eid Al-Fitr holiday till the beginning of September. The reservations to usual travel destinations for Kuwaitis decreased this year due to the geopolitical conditions in the Middle East. Sarajevo, the capital of Bosnia and Herzegovina, is being a new destination for Kuwaitis this summer, being a city of landscapes, nice weather, low living cost, easy travel measures, and exemption from visa, besides being an Islamic country. Owner of travel agency,Ali Al-Zo’bi told Kuwait News Agency (KUNA) that the top destinations this summer are Dubai, Kuala Lumpur, Bangkok, Geneva, Paris, London,

Turkey, besides far East countries. London is hosting the Summer Olympic this year, which caused a hike in the flight tickets and hotels reservations prices. Dubai is remaining as one of the most favorite destinations in all seasons, especially during the weekends. The unusual destinations for Kuwaitis this summer besides Bosnia and Herzegovina are Japan, China, Brazil and Argentina, director of a travel agency Mohammad AlTasabehi said. Kuwaitis are accustomed to spend the holy month of Ramadan inside the country which caused an increase on the travel bookings and prices of flight tickets. Expatriates prefer to spend Ramadan back in their countries - especially the teachers. Middle East destinations including Cairo, Damascus, Beirut, witnessed a low turnout, excluding expatriates and some Kuwaiti students. –KUNA

Al-Babtain’s ‘Andalusian Prize’ awarded to Spanish researcher

KUWAIT: The Arab, Muslim and Andalusian culture and heritage is a good example of peaceful dialogue among civilizations, races and religions, said Kuwaiti writer and poet Abdulaziz Saud Al-Babtain on Monday. His remarks came after awarding the “Andalusian Prize” to Spanish researcher Jose Ramirez del Rio, for his second paper on “Civilization and Culture of Andalusia”. Del Rio’s research is on Islamic conquests of western Spain and important elements of scientific methodology, quality and creativity. The ceremony was held at the University of Granada gardens, with the attendance of Rector of the University Francisco Gonzalez Lodeiro,Vice-Rector for International Relations, Dorothy Kelly, Director of Al-Babtain Chair of Arabic Studies at the University of Granada, Maria Khiso Figueroa and a number of Arab and Spanish cultural, political and academic figures. For his part, Rector Lodeiro expressed admiration for cooperation with Al-Babtain foundation, saying that Andalusian era is an important Islamic conquest in the history of the Iberian Peninsula. Lodeiro thanked the foundation for its role in spreading Arab and Islamic cultures and called for enhanced cooperation with Kuwait and Al-Babtain Foundation Al-Babtain signed an agreement with Rector Lodeiro in renewing the agreement of Al-Babtain chair for Arabic studies and tourism courses for three more years. For his part, Del Rio expressed joy in receiving the prize and stressed the importance of defining Islamic heritage that ruled Iberian Peninsula for eight centuries. Al-Babtain’s “Andalusian Prize” grants foreign researchers access to Andalusian civilization and its role in the human thought and the revival of Arabic heritage and formation of cultural literacy in Andalusia and in Spain. It is worth 30,000 US dollars. The Foundation of Abdulaziz Saud Al-Babtain Prize for Poetic Creativity was launched in Cairo in 1989. –KUNA

NATO leaders welcome Kuwait offer to host ICI

Shabab Al-Khair Al-Masreyeen (The Charitable Egyptian Youth) in Kuwait are seen during the process of packaging (left) and in a group photo after completing their tasks. Nancy Oteifa Staff Writer

KUWAIT: Despite living away from their home country, Egyptians abroad continue to sympathize with unfortunate Egyptians that suffer in many areas due to the lack of resources provided to them. An active charity group in Kuwait known as Shabab Al-Khair Al-Masreyeen (The Charitable Egyptian Youth) was founded almost a year ago and is actively known to send goods to Egypt through charity works. Al Watan Daily held an exclusive interview with Shabab Al-Kher Al-Masreyeen, where Mohamed Samir, the founder of this organization spoke about the main objectives of the group. The organization, after its formation, later included Hani Kamal and Ehab Galal. What is the organization about?

Samir: It’s a non profitable organization where Egyptian youth in Kuwait work on receiving goods from donors, packaging them into bags and then into containers. After that, the goods are shipped to Egypt. We are the first charity campaign in Kuwait that seeks providing aid to the poor people living in Egypt. Our aim is to get rid of poverty in the poor areas of Egypt.

To whom are these goods distributed to?

other nationalities in Kuwait?

Samir: The goods are delivered to the capital city, Cairo and then distributed to those living in rural areas and shanty houses that are in dire need of basic commodities.

Samir: The project is totally Egyptian but we do receive donations from other nationalities.

Do you have any support from the Egyptian embassy in Kuwait?

Samir: Till now we shipped 30 containers through Al-Orman organization.

Samir: We work with the Egyptian council and our partner in Egypt is Al-Orman organization. Do you deal with all non profitable organization in Egypt?

Samir: We deliver most of the non profitable organizations in Egypt, whom then distribute the goods to the villages according to need. When did you start this project?

Samir: The project started after the Egyptian revolution in April 2011. How many volunteers do you have in this project?

Samir: We have around 200 volunteers in our organization. Do you receive any donation from

How many shipments did you deliver so far?

How can interested donors contact you?

Samir: Through the newspapers and the Facebook or call us at 97574370, 99009355, or 96648889. Is there any new campaigns coming up?

Samir: There is a new campaign that includes providing decent housing to villagers, which is done by receiving money as donation from Egyptians in Kuwait. Do you provide anything special during Ramadan to help the poor people during this Holly month?

Samir: In Ramadan, we will be collecting money as donation and transfer it to Egypt. Our partner will buy and distribute the Ramadan packages, which includes food and necessities.

CHICAGO: NATO leaders Monday underlined their commitment to strengthen cooperation with the Istanbul Cooperation Initiative (ICI) and urged ICI partners to grasp the opportunity offered by the 28member Alliance. “We will strengthen political dialogue and practical cooperation in the ICI. We warmly welcome the generous offer by the State of Kuwait to host an ICI Regional Centre, which will help us to better understand common security challenges, and discuss how to address them together,” said the leaders in their final statement called the Chicago Declaration. “We encourage our ICI partner countries to be proactive in exploiting the opportunities offered by their partnership with NATO. We remain open to receiving new members in the ICI,” it stressed. The ICI which includes Bahrain, Kuwait, Qatar and UAE, was launched in the Turkish city in 2004 aims to contribute to long-term global and regional security by offering countries of the broader Middle East region practical bilateral security cooperation with NATO. NATO leaders during the second and last day of their summit today discussed a global partnership with leaders of 13 partner countries. The Declaration noted that “at a time of unprecedented change in the Mediterranean and broader Middle East, NATO is committed to strengthening and developing partnership relations with countries in the region, with whom we face common security challenges and share the same goals for peace, security and stability.” “NATO supports the aspirations of the people of the region for democracy, individual liberty and the rule of law - values which underpin the Alliance,” it said. “The Libya crisis illustrated the benefits of cooperation with partners from the region. It also showed the merit of regular consultations between the Alliance and regional organizations, such as the Gulf Cooperation Council and the League of Arab States,” said the NATO Declaration.

The NATO leaders welcomed Libya’s stated interest to deepen relations with the Alliance. “We are ready to welcome Libya as a partner, if it so wishes. In that perspective, the Mediterranean Dialogue is a natural framework for this partnership. We stand ready, if requested, and on a case-by-case basis, to consider providing assistance to Libya in areas where NATO can add value. NATO’s activities would focus primarily on security and defense sector reform, while taking into account other international efforts,” said the Declaration. “We are following the evolution of the Syrian crisis with growing concern and we strongly support the efforts of the United Nations and the League of Arab States, including full implementation of the six-point Annan plan, to find a peaceful solution to the crisis,” it noted. The NATO leaders expressed deep concern about the proliferation of nuclear weapons and other weapons of mass destruction (WMD), as well as their means of delivery. “We share the United Nations Security Council’s serious concern with Iran’s nuclear programme and call upon Iran to fully comply with all its international obligations, including all relevant Resolutions of the United Nations Security Council and the International Atomic Energy Agency Board of Governors,” said the Alliance leaders. “We further call upon Iran to cooperate with the international community to build confidence in the exclusively peaceful nature of its nuclear program in compliance with its NPT obligations. We support the immediate resolution of the Iranian nuclear issue through diplomatic means and encourage a sustained process of engagement within the format of the P5+1 and Iran talks,” they said. They also expressed deep concern by the proliferation activities of the Democratic People’s Republic of Korea (DPRK) and called on it to comply fully with all relevant UNSCRs and international obligations. -KUNA


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ALWATAN DAILY

regional

tuesDAY, may 22, 2012

At least 96 killed as Yemen soldier turns bomber

The moment, the dream By Hossam Fathi Staff Writer

Now is the time to test the strong will, determination, history, and civilization of Egyptians; it is the first true elections to choose a president for Egypt. Egypt is the heart of the Arab world, and the heart of moderate Islam. This is Egypt, the country that has had Al-Azhar for hundreds of years, in addition to the Nile, the Pyramids, and the most important element; the Egyptian man. We do not need a miracle to show the world the real mettle of Egyptians. All that we need to do is think of Allah and the principles of Islam, and allow the civilization of 7000 years to lead us. After we shut our eyes, we must remember the blood of the martyrs that was spilled for our sake. Their precious blood is what allowed us to take part in the first real elections in Egypt, and the January revolution is as epic as the 1973 war that regained Egyptian land from the Israelis. Now open your eyes, hug your children tight, and inhale the aroma of freedom. Pray for the martyrs to rest in peace, since their sacrifices made it possible for us to vote and shape our future. hossam@alwatan.com.kw Twitter:@hossamfathy66

SANAA: A Yemeni soldier packing powerful explosives under his uniform blew himself up in the middle of an army battalion in Sanaa Monday, killing 96 troops and wounding around 300, a military official and medics said. The suicide attack was the deadliest in the country’s capital since newly-elected President Abdrabuh Mansur Hadi pledged to oust Al-Qaeda militants from Yemen’s mostly lawless and restive southern and eastern provinces. Medics, speaking on condition of anonymity, said the casualties were being treated in seven hospitals across Sanaa. All the dead and injured were soldiers, they added. There was no immediate claim of responsibility for the massive blast which according to witnesses echoed loudly across the city, causing panic among residents. Yemeni police officer Colonel Abdul Hamid Bajjash, in charge of security at the blast area, said the attack “bears the hallmark of Al-Qaeda.” The unidentified bomber detonated his explosives as soldiers from the government’s central security forces, commanded by a nephew of former president Ali Abdullah Saleh, rehearsed for an army parade to mark the 22nd anniversary of the unification of north and south Yemen, according to the military official. Yemen’s defense minister, Mohammed Nasser Ahmed, was present at the time of the explosion but escaped unharmed, the official added. Witnesses said human remains were scattered across the site of the blast at Sanaa’s Sabeen Square, where the Yemeni government often holds large military parades. An AFP correspondent said dozens of ambulances rushed to evacuate the dead and wounded, as security forces cordoned off the area. Monday’s attack is Sanaa’s most deadly since Hadi took power in February with a pledge to fight Al-Qaeda’s growing presence in the county. Hadi, who was elected in a single-candidate vote as stipulated by the Gulf-sponsored transition deal that forced Saleh’s ouster, was expected to give a speech at the military ceremony scheduled for Tuesday. It remains unclear if the parade will take place as planned. Yemen military and tribal sources said Monday that 11 AlQaeda fighters and three Yemeni soldiers were killed in the latest fighting around the southern city of Jaar. The clashes during the night took place mainly at the city’s western entrance, a military source said, adding that 17 soldiers were wounded in the clashes.

Yemeni military police collect evidence at the site of a suicide bomb attack in Sanaa on May 21, 2012. (AFP)

In a separate incident Monday, Al-Qaeda militants attacked a Yemeni military base in Wadi Hassan, east of Zinjibar, killing seven soldiers and wounding 23 others, military officials and medics said, adding that fierce fighting also erupted northeast of the city. On Monday, Al-Qaeda militants claimed they raked with gunfire a convoy carrying four US military advisers in Hudaida, but American officials said they had no such personnel in the west Yemen port city. The jihadists said in a statement that gunmen had opened fire

Brotherhood’s Mursi leads in Egypt expat voting CAIRO: Muslim Brotherhood candidate Mohammed Mursi leads the race for Egypt’s presidency among overseas voters, thanks to massive support from the expatriate community in Saudi Arabia, initial figures showed on Monday. Egyptians abroad went to the polls ahead of their compatriots at home who are set to vote on Wednesday and Thursday, and embassies and consulates have begun releasing initial results. A tally announced by Egyptian missions in 33 countries put Mursi far ahead, with

106,252 votes, trailed by moderate Islamist Abdel Moneim Abul Fotouh, with 77,499. Nasserist candidate Hamdeen Sabbahi came third with 44,727 votes, while former foreign minister Amr Mussa was in fourth place, followed by Ahmed Shafiq, the last premier to serve under ousted president Hosni Mubarak. But the numbers were dominated by the votes cast in Saudi Arabia - Egypt’s largest expat community - where Mursi secured a massive 49 percent of the vote, according to Egyptian diplomats. His 68,443 votes put him well ahead

Iran starts legal case against Reuters

TEHRAN: Iranian authorities said on Monday they have formally started legal proceedings against the international news agency Reuters, after suspending its Tehran bureau over a report about female ninjas. “The final decision on Reuters resuming its activities in Tehran depends on the court’s verdict,” Mohammad Javad Aghajari, the head of the foreign media section of the culture ministry, was quoted as saying by the official Islamic Republic News Agency (IRNA). Iran’s chief prosecutor, Gholam Hossien Mohseni Ejeie, added: “This case has not reached a conclusion and it has not gone to court yet.” Sources close to the case told AFP the charges being considered were threatening Iran’s national security, propaganda against the regime, or others yet to be declared. No charges have been made public. Reuters employees in Tehran and elsewhere declined to comment, saying they had instructions from their management not to do so. A Reuters statement said the news agency has apologized for the ninja story and retracted it. It protested a travel ban placed on the Reuters bureau chief in Tehran, Parisa Hafezi, who had been forced to hand in her Iranian passport as part of bail conditions imposed by an investigating magistrate pending the court case. The case stems from a February 16 video report Reuters did on a group of female ninjas training in the city of Karaj, west of Tehran. The women and the head of the ninjutsu club featured in the report objected that they were mischaracterized as killers in the story’s original headline, which read “Thousands of female Ninjas train as Iran’s assassins”, and said they would sue for defamation. Reuters subsequently changed the headline to read “Three thousand women Ninjas train in Iran”. It later retracted the report. Aghajari, quoted by IRNA on April 2, said the culture ministry had suspended the Reuters bureau’s operations “indefinitely” because the report falsely insinuated there was “the teaching of assassination and terrorism in Iran.” Reuters’ global editor in chief, Stephen Adler, admitted to the New York Times newspaper on March 29 that the headline was “really bad” and was therefore changed. But, he said, the error was not malicious and “I don’t see factual errors in the story.” Iranian authorities routinely monitor and restrict the activities of foreign journalists. Iran’s sensitivity over the way it is portrayed in Western media has become more acute in recent years, particularly since the coverage of mass protests in 2009 over a disputed re-election win by President Mahmoud Ahmadinejad. Reuters, originally a British company, is part of Canada’s Thomson Reuters business information conglomerate since 2008. Its news operations are directed from London and New York.-AFP

of his nearest rival, Abul Fotouh, who took 36,480 votes - 26.1 percent. Sabbahi, who has campaigned on a platform supporting the left-leaning policies of president Gamal Abdul Nasser who ruled in the 1950s and 1960s, came in third, with 15,292 votes, just under 11 percent of the ballots cast. In Kuwait, home to another large expatriate community, voters also favoured Mursi, with 17,149 casting their ballots in favor of the Brotherhood’s candidate. Abul Fotouh came in second, with 14,109 votes, well ahead of third-placed Sabbahi with 9,031.

Although the results announced overseas are unofficial, they have been closely watched in Egypt, where opinion polling has been seen as inaccurate and has produced wildly contradictory results. In Europe, expat voting produced varying results, with Sabbahi winning in France with 736 ballots, followed closely by former premier Shafiq with 706 votes. In Britain, Abdul Fotouh was the clear winner, taking 1,300 votes, ahead of Sabbahi with 962. In Greece, Mussa was in the lead, with 362 votes, followed by Shafiq and Sabbahi.-AFP

Israel army opens probe over settler shooting video

A Palestinian protester faces off with Israeli settlers from the Yitzhar Jewish settelment who set alight the fields around the village of Asira Al-Qibliya, on May 19, 2012, near the northern town of Nablus in the Israeli occupied Palestinian West Bank. (AFP)

JERUSALEM: The Israeli army said on Monday it was investigating an incident that was exposed by two video clips in which troops appeared to stand by without intervening as settlers shot at Palestinians. The shooting incident took place on Saturday afternoon during stone-throwing clashes between settlers from the hard-line Yitzhar settlement and Palestinian villagers from Asira Al-Qibliya near Nablus. The footage, which shows a Palestinian being shot by two settlers in the presence of at least three soldiers, was captured by a volunteer for the Israeli human rights group B’Tselem. The apparent indifference of the soldiers was widely covered by the Israeli press and was condemned by the Palestinian government in Ramallah. In response, the army said troops had arrived at the scene to break up a violent confrontation in which both sides were throwing stones at each other. “During the confrontation, live fire was used; the incident is currently being investigated by the division commander,” a military statement said. “That said, it appears that the video in question does not reflect the incident in its entirety,” it added, without elaborating. In one of the clips, two settlers with M-16 assault rifles can be seen opening fire at a stone-thrower in a green shirt

who collapses onto the ground after being hit in the head. In the second clip from a slightly different angle, a third settler can be seen firing with a pistol towards the stone throwers as three soldiers stand close by doing nothing. B’Tselem filed a complaint with the police, urging them to prosecute the gunmen, and also with the military police calling for an investigation into suspicions the soldiers “did not adhere to their obligation to protect Palestinians from settler violence.” “The video footage raises grave suspicions that the soldiers present did not act to prevent the settlers from throwing stones and firing live ammunition at the Palestinians,” the rights group said in a statement late on Sunday. “The soldiers did not try to remove the settlers and in fact are seen standing by settlers while they are shooting and stone throwing.” The Palestinian Authority called on Israel to treat the incident “seriously and to open a fair investigation to bring the assailants to justice.” “The gravity of the footage lies not only in the settlers’ provocations and shooting live ammunition towards unarmed residents, but also in the irresponsibility of the Israeli soldiers who stood watching the events without trying to stop the settlers,” a statement said. -AFP

Sudan, S. Sudan to set peace talks date ‘this week’ JUBA: Sudan and South Sudan will this week set a date to restart face-to-face peace talks after bitter border conflict and the missing of a UN deadline, African Union mediator Thabo Mbeki said Monday. Mbeki, a former South African president, heads the AU mediation team for the talks, which were suspended after heavy clashes last month between former civil war foes in Khartoum and Juba. “I am quite sure that within this week we will agree on a date,” Mbeki told reporters in the South Sudanese capital, after meeting with President Salva Kiir. Mbeki has embarked on rounds of shuttle diplomacy between the two capitals, and was flying back to Khartoum after his day visit to Juba. “We are going back to Khartoum, we will consult there... It

is important that our panel convene the two parties as urgently as possible,” Mbeki added. Sudan and South Sudan did not comply with a United Nations Security Council demand that they resume the talks by last Wednesday. The South has said it is ready to talk and accused Khartoum of stalling. The South separated last July with about 75 percent of the former united Sudan’s oil production, but Juba still depends on the north’s pipeline and Red Sea port to export its crude. A protracted dispute over fees for use of that infrastructure led South Sudan in January to shut its oil production after accusing the north of theft. The Security Council gave both sides three months to conclude the talks.-AFP

on Sunday on two cars carrying four American military advisers who were in the Red Sea city on a training mission with the Yemeni Coast Guard. The militants “opened fire on them as they left their hotel on their way to work,” the statement said, adding that the attackers were able to flee despite efforts by Yemeni security forces to cordon off the city. The US embassy in Sanaa however denied the presence of American military advisers in Hudaida. “Reports of US military trainers in Hudaida are false,” an embassy email said.-AFP

Beirut gun battles leave two dead

BEIRUT, Lebanon: Street battles between pro- and anti-Syrian groups in Beirut overnight left two people dead, a security official said Monday, sparking concerns the conflict in Syria is increasingly spilling into Lebanon. “During the night, groups of young men cut off the road in the Tareek El-Jdideh district and street battles followed,” the official said, requesting anonymity. “Two people were killed and 18 were wounded,” he said, adding that machineguns had been fired and that the fighting had raged until about 3.00 am (2400 GMT). An office housing a small pro-Syrian party in Tareek El-Jdideh, a mainly Sunni Muslim neighborhood of west Beirut, was torched by followers during the clashes and the facade of the building was riddled with bullets, an AFP correspondent said. Several motorcycles and cars parked on the street below were burned. The situation had returned to calm by daylight and students could be seen heading on foot to the nearby Arab University. Tension however was palpable in the capital where residents fear a repeat of sectarian clashes similar to those that brought the country close to civil war in 2008. “I’ve had enough ... of war,” said Amal Khattab, a 40-year-old teacher and mother of two who lives in Tareek El-Jdideh. “My children were terrified last night,” she added, crying. “I can’t spend another minute in this country.” The latest fighting erupted hours after reports emerged that army troops had shot dead Sheikh Ahmad Abdul Wahid, a prominent anti-Syria Sunni cleric, when his convoy failed to stop at a checkpoint in north Lebanon on Sunday. Another cleric in the car was also killed. Wahid’s funeral was to be held later Monday in the northern region of Akkar where many businesses and shops were closed as a mark of respect. His body was transported to his hometown of El Bireh draped in the Lebanese flag as well as the Syrian revolutionary flag and that of the anti-Syrian Future Movement of ex-premier Saad Hariri. A judicial official said Monday that 21 soldiers, including three officers, were being questioned by military police in relation to the sheikh’s death. His killing followed a week of intermittent clashes between Sunnis hostile to the Syrian regime and Alawites who support Al-Assad that left 10 people dead in the northern port city of Tripoli. -AFP

UN atom chief starts talks in Tehran, hopes for deal

VIENNA/DUBAI: The UN nuclear watchdog chief began rare talks in Tehran on Monday after voicing hope for a deal to investigate suspected atomic bomb research - a gesture Iran might make to try to get international sanctions relaxed and deflect threats of war. International Atomic Energy Agency Director-General Yukiya Amano met the head of Iran’s nuclear energy organization, Fereydoun Abbasi-Davani, hours after his pre-dawn arrival, according to ISNA news agency. Amano, who was on his first trip to Iran since taking office in 2009, a period marked by rising tension between the IAEA and Tehran, was also due to meet Iran’s chief nuclear negotiator, Saeed Jalili and Foreign Minister Ali Akbar Salehi on Monday. He was greeted at Tehran airport by Iran’s IAEA ambassador. “I really think this is the right time to reach agreement. Nothing is certain but I stay positive,” Amano, a veteran Japanese diplomat with long experience in nuclear proliferation and disarmament affairs, said before departure from Vienna airport. He added that “good progress” had already been made. But while Amano scheduled Monday’s talks with Iran at such short notice that diplomats said a deal on improved IAEA access in Iran seemed near, few see Tehran going far enough to convince the West to ease back swiftly on punitive sanctions when its negotiators meet global power envoys in Baghdad on Wednesday. Two days after seeing Amano, Jalili will hold talks in the Iraqi capital with Catherine Ashton, the European Union foreign policy chief heading a six-power coalition comprised of the five UN Security Council permanent members plus Germany. By dangling the prospect of extended cooperation with UN inspectors, diplomats say, Iran might aim for leverage for the broader talks where the United States and its allies want Tehran to curb works they say are a cover for developing atomic bombs. Escalating Western sanctions on Iran’s energy exports, and threats by Israel and Washington of military action, have pushed up world oil prices, compounding economic misery wrought by debt crises in many industrialized countries. Some Western diplomats said Amano, given a recent history of strained relations with Iran, would go to Tehran only if he believed a framework agreement to give his inspectors freer hands in their investigation was close. Iran has been stonewalling IAEA requests for better access for four years. -Reuters


ALWATAN DAILY

WORLD

tuesdAY, may 22, 2012

Dominican election in dispute after apparent win SANTO DOMINGO: A governing party official appeared to have scored a first-round win in the Dominican Republic’s presidential election but supporters of his main opponent complained of vote-buying and other forms of fraud and said they would challenge the results. Danilo Medina of the current president’s Dominican Liberation Party received just over 51 percent of Sunday’s vote with 83 percent of the ballots counted, according to the Caribbean country’s Electoral Commission. His main rival, former President Hipolito Mejia of the Dominican Revolutionary Party, had nearly 47 percent. The winner needed more than 50 percent to avoid a runoff. Medina said he was confident he would win, but that the Electoral Commission would keep scrutinizing ballots through the night. He thanked a crowd of supporters and sent them home. “We will celebrate in a big way tomorrow,” he said. Mejia did not concede and questioned the results as did others in his party. Luis Abinader, his vice presidential candidate, said the Dominican Revolutionary Party would present a report detailing irregularities on Monday. “We are going to defend democracy,” Abinader said. “We are going to show the country what really has happened today.” Mejia’s representative on the Electoral Commission accused the ruling party of fraud, saying the former president should have received many more votes than the results reflect-

Presidential candidate Danilo Medina, (center right), his wife Candida Montilla, (right), vice presidential candidate Margarita Cedeno, (center left), and current President Leonel Fernandez, of the ruling Dominican Liberation Party, celebrate at the party headquarters in Santo Domingo, Dominican Republic, in the early hours of May 21. (AP)

ed. “We all know what party the director of the Electoral Commission belongs to,” he said at a news conference. The balloting appeared orderly in general but there were widespread reports that backers of both parties were offering people payments of about $15 to vote for their candidate or to turn over their voting cards and withhold their

vote. Campaign officials denied the allegations. Observers from the Organization of American States confirmed incidents of vote-buying but not enough to taint the overall results of what was otherwise a “successful,” election, said the head of the mission, Tabare Vazquez, a former president of Uruguay. The candidates were vying to succeed Pres-

ident Leonel Fernandez, who spent $2.6 billion on such major infrastructure projects as a subway system, hospitals and roads to modernize a country that is the top tourist destination in the Caribbean but remains largely poor. Fernandez was barred by the Constitution from running for a third consecutive term. Many voters conceded that Medina, a 60year-old economist and stalwart of the Dominican Liberation Party, wasn’t a particularly exciting candidate, but said they were eager for stability in a country with a history of economic and political turmoil. “I don’t want major change,” said Amauris Chang, a 59-year-old shop owner. “I want the country to grow and I want it to be peaceful, and I think that’s a common idea among people who are civilized.” Six candidates were running for president, but Medina’s only real opponent was Mejia, who lost his bid for a second presidential term in 2004 because of a deep economic crisis sparked by the collapse of three banks. Mejia and his Dominican Revolutionary Party have a devoted following. Supporters of the 71-year-old garrulous populist sought to portray some of the public works spending as wasteful and benefiting backers of the president, and insisted he wasn’t to blame for the 2004 economic crisis. “The crisis could have happened to any government. It had nothing to do with Hipolito Mejia,” said 62-year-old maintenance man Alonso Calcano. -AP

Top officials meet as North Korea nuclear test feared Washington warns Pyongyang against another nuke test

SEOUL: Senior US, South Korean and Japanese officials have begun talks on North Korea and other issues amid concerns the communist state may be planning another nuclear test, according to Seoul’s foreign ministry. The one-day talks involve Glyn Davies, the US special envoy for North Korea policy, Lim Sung-Nam, South Korea’s top nuclear envoy, and his Japanese counterpart Shinsuke Sugiyama. Expectations of a third atomic test by Pyongyang have grown since the United Nations Security Council condemned the North’s failed long-range rocket launch on April 13 and tightened existing sanctions. The North said its aim was only to put a peaceful satellite into orbit but the UN said it breached a ban on testing ballistic missile technology. North Korea responded with nuclear tests after the UN imposed sanctions against its rocket launches in 2006 and 2009. Satellite photos last month showed work under way at its atomic test site but gave no indication of whether or when a test would be staged. “In response to the failed launch, the international community... has been able to send a clear and consistent message to Pyongyang that North Korea should refrain from any further provocations,” Lim said in opening remarks

South Korea’s chief nuclear envoy Lim Sung-Nam (center), his Japanese counterpart Shinsuke Sugiyama (left) and the US special envoy for North Korea policy Glyn Davies (right) pose before their three-way talks at the foreign ministry in Seoul on May 21. (AFP)

quoted by Yonhap news agency. “There will be a different path for them if they make the right decision,” Lim said, adding he hoped the Monday talks could “lead North Korea to the right side of peace”. Group of Eight leaders expressed “deep concerns” Saturday at the North’s “provocative actions” and condemned the rocket launch. “We affirm our will to call on the UN Security Council to take action, in response to additional DPRK (North Korean) acts, in-

cluding ballistic missile launches and nuclear tests,” they said in a statement after a summit. Davies will leave for Beijing on Tuesday, where he plans to meet China’s chief nuclear envoy Wu Dawei, and will go on to Tokyo Wednesday. A US-North Korean deal announced on February 29 had raised hopes of progress under Pyongyang’s new leader Kim Jong-Un. The North pledged to suspend uranium en-

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NEWS IN BRIEF Sailors held in North Korea ‘return to China’ BEIJING: All 29 Chinese fishermen reportedly kidnapped by armed North Koreans earlier this month have returned home after they were freed at the weekend, the state Xinhua news agency said. The men were snatched by a group of unidentified gunmen as they fished in waters running between China and North Korea on May 8, and held for 13 days, according to earlier reports and witness accounts given to AFP. It remains unclear who was behind the rare abductions. Xinhua said that no ransom had been paid and the men were released after “diplomatic exchanges” between Pyongyang and Beijing, the North’s only major ally. -AFP

Migrant boats intercepted off Australia SYDNEY: Australian border patrol vessels have intercepted three boats carrying more than 250 asylum seekers in waters near Christmas Island, officials said. An Australian naval ship responded to an appeal for assistance from a boat carrying about 175 people early on Sunday, according to the country’s home ministry. Another naval vessel later intercepted a boat carrying 44 people, while a customs vessel stopped a ship with 38 people aboard early on Monday, the ministry said. Al Jazeera’s Andrew Thomas, reporting from Sydney, said some of those on the first boat intercepted had used their mobile phones to call for help. -AFP

Zimbabwe dismisses torture claims as ‘lies’

richment and impose a moratorium on nuclear and missile tests in return for 240,000 tons of US food aid. Pyongyang insisted its launch was not a missile test but Washington suspended the food aid, saying the North could not be trusted. The top US envoy for North Korea warned Pyongyang on Monday that any nuclear test would be a serious miscalculation that would unify the world in seeking swift, tough punishment. Glyn Davies’ comments after meetings with his South Korean and Japanese counterparts come as outside analysts and governments voice worry that North Korea may follow a failed April 13 long-range rocket test with its third nuclear test - a pattern that happened in 2006 and 2009. North Korea is being led by Kim Jong Un, the young son of Kim Jong Il who took power after his father’s death in December and has since vowed to place top priority on his impoverished country’s military. “We are obviously in a bit of an uncertain period with North Korea” after the rocket launch, Davies told reporters at the Foreign Ministry. “It is very important that North Korea not miscalculate again and engage in any future provocation.” Describing Washington’s policy on North Korea as “engagement on the one hand, pressure on the other,” Davies said that the “engagement aspect remains open. If they make the right choices, there can be a different future for North Korea.” -Agencies

HARARE: Zimbabwe’s justice minister said Monday that reports of torture and violence against political activists were “lies”, during a visit by UN rights chief Navi Pillay. “There is no state-sponsored violence, these are all lies. We told her that there are no torture chambers in Zimbabwe,” Patrick Chinamasa said after an hour-long meeting with the UN’s High Commissioner for Human Rights. A South African court on May 8 ordered prosecutors in Pretoria to probe Zimbabwean officials accused of torturing opposition supporters five years ago, citing South Africa’s obligations to the International Criminal Court. -AFP

China police chief faces treason trial BEIJING: The Chinese provincial police chief at the centre of the biggest political scandal to engulf the communist leadership in decades will be tried for treason, a report said on Monday. Former Chongqing municipality police chief Wang Lijun, who fled to a US consulate in February reportedly seeking asylum, would be tried as early as next month, the South China Morning Post reported, quoting unnamed sources. Wang had been the right-hand-man of Chongqing party boss Bo Xilai, who had been widely expected to ascend to the all-powerful Politburo later this year until he was ousted over a scandal involving alleged murder and corruption. -AFP

Aftershocks rattle Italy, residents sleep outdoors Court puts off hearing new charge against Ukraine’s Tymoshenko

A care center is filled with people that were evacuated from their homes in Finale Emilia, Italy, May 21. (AP)

FINALE EMILIA: Thousands of people in northern Italy slept in tents and cars overnight as more than 100 aftershocks rocked the area hit by a magnitude 6.0 earthquake that killed seven people and inflicted heavy damage to centuries-old cultural sites. “The fear that your house will collapse on your head is great, so it was good to be able to sleep in this tent,” said one man who spent the night outdoors, cold but safe, in the town of San Felice Sul Panaro. Heavy rainfall added to the misery of about 3,000 people who had to abandon their homes and made conditions more difficult for civil protection workers. But most residents said they were content with the relief effort. “They set up these tents very quickly. I felt safe,” an elderly woman said. Sunday’s earthquake killed four factory workers who were on the night shift, an elderly woman who was hit by a beam and two women who died as a result of shock. It also left a swathe of damage across the Emilia-Romagna region, felling ancient churches and severely damaging a 14th-century castle that had withstood wars and invasions. The 14th-century clock tower in Finale Emilia was split vertically as if hit by a meat cleaver when the quake struck at 4:04 a.m. (0204 GMT), leaving only one half - showing the Roman numerals from seven to eleven standing. Twelve hours later, an aftershock of magnitude 5.1 brought down the other half.

The quake hit a generally flat area in the Po River Valley that was believed to have been safe from major seismic activity. The quake, and a bombing that killed a teenage girl in southern Italy on Saturday, prompted Prime Minister Mario Monti to cut short his trip to the United States and return to Italy. “This is one of the times that the country should feel united and close to those who are suffering and I believe it is,” he said in Chicago, announcing his decision to return early from a NATO summit. The tremors caused the greatest loss to Italy’s artistic heritage since an earthquake in 1997 ravaged the Basilica of St Francis in Assisi, where the ceiling collapsed. The imposing 14th-century Estense Castle, symbol of the town of San Felice Sul Panaro, was severely damaged. The tops of several of its smaller towers collapsed and there were fears that the main tower, weakened by cracks, could tumble. Centuries-old frescoes and other works of art were badly damaged in three of the town’s churches. “We have practically lost all our artistic patrimony,” said Alberto Silvestri, mayor of San Felice. “Churches and towers collapsed. The theatre is still standing but has cracks.” The quake left a gaping hole in the side of the Renaissance-style town hall in Sant’Agostino, which officials said was in danger of collapsing. Smaller aftershocks, reaching magnitude 2.5, rattled the area on Monday. -Reuters

KHARKIV: A court in Ukraine on Monday adjourned a trial of jailed former prime minister Yulia Tymoshenko on a new charge of tax evasion until June 25, when the European soccer championship will be under way in the country, for medical reasons. Tymoshenko is being treated for back trouble in a clinic in the city of Kharkiv near the prison where she is serving a seven-year sentence for abuse-of-office in a case which the West has condemned as politically motivated. Some European leaders are considering a boycott of Euro-2012 matches in Ukraine in protest against the government’s actions over Tymoshenko. Authorities have ignored calls by the European Union and the United States to release her and opened further charges of large-scale tax evasion and embezzlement in the 1990s when Tymoshenko was head of the gas trader Unified Energy Systems. Tymoshenko, 51, was unable to attend the resumption of the hearing on these new charges on Monday. Judge Kostyantyn Sadovsky, adjourning the hearing until June 25, said: “The court rules that it is impossible to consider the case because of the absence of the accused and her counsel.” This will mean the hearing will take place during the June 8-July 1 Euro-2012 European soccer championships which Ukraine is co-hosting with Poland. Kharkiv is one of the four Ukrainian cities where Euro matches will be played, along with Kiev, Lviv and Donetsk. Ukraine’s Specialized Supreme Court on civil and criminal cases is also set to resume hearings into Tymoshenko’s appeal against the original abuse-of-office charge for which she is serving a jail sentence. She has denied all charges in both cases and says they are part of a campaign by President Viktor Yanukovich to destroy the political opposition. The EU saw Tymoshenko’s jailing last October as politically motivated and has said its members will not ratify an association agreement

with the former Soviet republic while she is in prison. European politicians were also alarmed by Tymoshenko’s allegations she was beaten by prison guards this month which prison authorities deny. State prosecutors are investigating her complaint. Tymoshenko was one of the leaders of the 1994 Orange Revolution protests which doomed Yanukovich’s first bid for the presidency. She served twice as prime minister before losing the February 2010 presidential election to Yanukovich. -Reuters

A court in the Ukrainian capital Kiev on May 15, began and then immediately delayed hearings on an appeal filed by former premier Yulia Tymoshenko over her October conviction to a seven-year jail term which Julia Tymoshenko argued in judge’s presence. (AP)

NATO allies focus on ending unpopular Afghan war CHICAGO: US President Barack Obama and NATO allies will focus Monday on logistical aspects of ending the protracted Afghan war after President Hamid Karzai vowed his country will no longer be a “burden” for the international community. Pakistani President Asif Ali Zardari’s attendance at the summit here had raised hopes his government was ready to lift a blockade on NATO convoys, but talks on reopening the routes have stumbled over Islamabad’s demand to charge steep fees for trucks crossing the border. Zardari and leaders from some 30 other

nations and international organizations will join the 28 NATO allies for Monday’s second day of talks. Leaders of the 28 NATO nations stood in solemn silence as a bugler’s lament recalled the heavy cost of a conflict that has killed over 3,000 coalition soldiers, maimed thousands more and left tens of thousands of Afghans dead. As anti-war protesters clashed with police near the Chicago summit site, the two-day talks aimed to endorse a withdrawal strategy and seek firm commitments from allies to train and bankroll Afghan forces. Before the summit Obama held talks with

Karzai, three weeks after his dramatic trip to Kabul where the two leaders inked a security pact for going forward after the last 130,000 international troops withdraw in late 2014. “We’re confident that we are on the right track, and what this NATO summit reflects is that the world is behind the strategy that we’ve laid out,” said Obama, who faces a tough reelection in November. But in a sign of growing impatience within the alliance, new French President Francois Hollande refused to back down from his decision to pull troops out in 2012, a year earlier than planned. -AFP


6

ALWATAN DAILY

OPINION

TUESDAY, MAY 22, 2012

Indicators heralding dissolution of the National Assembly

Frequent visits undertaken by MPs to the various ministries are a clear violation of rules and regulations that are set by those ministries.

Abdullah Besharah

O

n Thursday May 17, Al Qabas reported that some members of the National Assembly were accorded an invitation to attend the first seminar concerning the national initiative; adding that although those MPs were definitely not fame or publicity seekers; they raised the slogan: “Enough is Enough,” expressing the sentiments of a large number of Kuwaiti people who are simply tired and fed of the juvenile practices of MPs. It is a widely accepted fact that MPs generally overlook and undermine the best interests of the country; its security and stability and instead engage in violent outbursts in parliament at the slightest opportunity accorded to them. In fact, engaging in such horrendous practices are not just confined to those MPs who nurse different views and situations; there are others who have even gone a step further in confronting the government every step of the way despite being fully aware of the fact that the ministers are citizens too; who shoulder their responsibilities under very extreme situations, motivated by their love for the nation and its citizens. It is also common knowledge that ministers always find themselves involved in a host of confrontations with intolerant MPs who think nothing of using foul language and engage in absurd conflicts. And although it is an undisputed fact that those MPs who attended the seminar are not perfect; since they too have engaged in using foul language and nursing their own personal agendas; it was indeed a welcome respite to know that they have finally realized the fact that citizens are indeed angry and dissatisfied with their performances in parliament and hence; are now trying to make amends and rectify the situation. It is even worse that ordinary citizens, who have been dreaming of achievements and implementa-

tions of programs and reform, are now desperately seeking to vent their grievances. If these conflicts were confined to MPs alone, I am certain people wouldn’t care much, but the issue has now escalated to create such an uncomfortable atmosphere that it is now actually reflecting on the social heritage. This is clearly evident in the fact our parliamentarians now want to impose several restrictions on freedoms and undermine norms and traditions that were once the hallmarks of Kuwaiti society. The atmosphere that is currently existent in our own parliament is not, in any way, different from one that existed in the US Senate in the early 1950s, wherein the scourge of McCarthyism was flaying all those who expressed their opinions freely and accused them of engaging in communism and creating divisions within society. McCarthyism was then solely responsible for the loss of innovation in all fields in US society that was further compounded with the practice of political assassination. There are three serious violations that need to be addressed by National Assembly Speaker Ahmad Al-Saadoun; since he is responsible for maintaining the prestige and reputation of parliament; not to mention its credibility too. The first issue concerns doing away with all these silly interpellation motions that has actually prompted the people to believe that all those discussions taking place in parliament are trivial. The first interpellation motion was filed against His Highness the Prime Minister Sheikh Jaber

Resurrecting the electoral constituencies’ issue

BU QUTADA & BU NABIL Listen ... this guy has filed an interpellation motion

Nabeel Al-Fadhl

W

e have, in the recent past, witnessed a series of attempts; calling for some amendments in certain constitutional articles in desperate attempts to salvage our democracy that is literally floundering on the brink of disaster. We have also, on several previous occasions, described in microscopic detail how certain personalities have staunchly rejected any attempts at scrutinizing the Constitution -- under catchy slogans like: “No to scrutinizing the Constitution and Everything but the Constitution.” There can also be no doubt in one’s mind that are also other personalities out there; who are exercising frantic, yet futile attempts to render the Constitution to be in a frozen state. Even at this current point of time, there are still several other personalities that are demanding amendments in other constitutional articles while some MPs too have submitted certain suggestions about the various articles that they too want to be amended. Isn’t it indeed ironical that those very personalities that had once rejected any amendments in those articles are now demanding amendments? What is the actual nature of their demands and how do they expect to go about realizing those demands? Isn’t it illogical for them to first lead citizens in a certain direction and then suddenly do an about turn and lead citizens in the opposite direction? Are they not expected to explain to the citizens the actual reasons why they have changed course and headed in that direction? In fact, I firmly believe that all those personalities should be conscientious enough to offer their sincere apologies to citizens for misleading them and guiding them along an erroneous path from which there is no easy way out. I also believe that these personalities should apologize to citizens for their irrational and irresponsible course of actions that they have taken over the past several years since the final results of their actions have inconvenienced a lot of citizens. The act of apologizing for any wrongdoing is a moral and social obligation and hence; all those who engage in committing mistakes or blunders should not feel ashamed to apologize. In fact, all those who cannot bring themselves to apologize or refuse to take responsibility for their course of actions do not deserve to be respected by those people that have been inconvenienced through their erroneous and haphazard decisions. In this regard, I would like to recall a stance that was once held by Ahmad Al-Saadoun when he promulgated the slogan “Everything but the Constitution.” In fact, although he had gone out of his way to promote the slogan during previous electoral campaigns, he is currently maintaining a conspicuous silence as is evident in the fact that he has yet to reject calls that are being sent out to amend certain articles of the Constitution! And as if that is just not enough, there are also several other calls being sent out; pertinent to decreasing the number of electoral constituencies from the current five to just one consolidated constituency. Now, in the event that these calls garner any further momentum; I just hope that all those MPs who had earlier called for the adoption of five electoral constituencies at the Determination Square now do not change their minds and demand a single consolidated constituency. These MPs certainly do not have the right to demand a change in the number of electoral constituencies again unless they first inform the Kuwaiti citizens the actual reasons why they have now changed their minds. The Kuwaiti citizens are definitely not experimental mice housed in laboratories; waiting for a series of tests to be conducted on and hence; should reject any such calls in the future especially since they now know the actual reality behind those calls! Following 50 years of democracy which I had mentioned earlier; is tottering on the brink of disaster; some of these MPs now want to dump their views, visions and suggestions on us one more time, just to realize their own vested interests. They now want to change the number of electoral constituencies for the fourth time in succession without even giving us any explanation over how we stand to benefit from the same. Little do they realize that the constituents themselves are far more vigilant than themselves and hence; are fully aware of their actual intentions! They will never let those personalities hoodwink them into believing that their decisions and intentions are in the best interests of the citizens.

Al-Mubarak Al-Sabah followed by other ministers of Information, Interior and Finance. The finance minister is a versatile technocrat who is fully aware of the nature of his task and who is currently executing a major development project. Despite the fact that the minister is fully conversant with all the activities in his ministry, 31 MPs submitted a no-confidence motion against him without even giving the gentleman an opportunity to refute the allegations. All this is transpiring simply because the gentleman’s name is on top of the list of “political assassination” followed by the ministers of Social Affairs and Labor, Awqaf and Islamic Affairs and Interior. All these issues have got nothing to do with preserving the best interests of the country apart from seeking fame and vested interests. The National Assembly speaker is fully aware of the fact that development in any form warrants a sense of stability and that can only be achieved if the chaos and commotion in parliament is controlled. It is also important to note here that people have lost their confidence in the wisdom exercised by parliamentarians and the sanity of their decisions. The second issue is the scathing attacks that are being launched on laws enshrined in the Constitution in desperate attempts to serve the ideologies of those MPs who seek to impose restrictions on society without paying due attention to respecting the sanctity of the Constitution. The memo sent by His Highness the Amir Sheikh Sabah Al-Ahmad Al-

Sabah to parliament rejecting the amendment of Article 79 of the Constitution has now deemed the people to actually believe that the political leadership has got to intervene in desperate attempts to strengthen the country’s stability. The third issue is the blatant interference in the powers of the legislative authority, which possesses executive mechanisms and has a huge administrative body that shoulders responsibilities of implementation and follow up. Frequent visits undertaken by MPs to the various ministries are a clear violation of rules and regulations that are set by those ministries. The MPs interfere in the powers of ministers even where new appointments and reshuffling of ministers are concerned. They also tend to discuss issues pertinent to the appointments of ambassadors, officers and tenders, all of which have got nothing to do with parliamentary work. However, the most serious issue here; is the parliamentary tendency of forming investigatory committees to probe issues that MPs want to investigate, without resorting to the required terms, conditions or controls. Such an issue can and will undermine constitutional statutes and legal institutions and the rule of law prompting chaos that will threaten the country’s stability and security. I’d like to confirm here that people are surely aware of the rocky and stormy relationship that exists between the parliament and government and hence are nursing doubts about its continuity due to increasing tensions existing between the two authorities. The Speaker of Parliament Ahmad Al-Saadoun should bear in mind that all those MPs who deliberately failed to show a keen interest in maintaining stability should be held responsible of this state of affairs. I’m just not exaggerating when I say that observers surely detect any changes that affect the relationship between the two authorities, and hence; expect citizens across the country to witness new electoral campaigns.

Alright ... this guy has also filed an interpellation motion

M His m oti m m , n o, n o. on it is aga in is n ot a ccepta b le; s is expecte t th e m in ister wh o d to co m tra n s a cti plete ou r ons

Majority Bloc meeting

Majority Bloc meeting

This man has filed an interpellation motion too

I don`t like this guy, let’s reject his motion

I hope they approve my motion

Oh! He’s one of our friends! His motion should be prioritized!

Is this the Majority Bloc ... or the secretariat of parliament?!

Majority Bloc meeting

Mohmmed Thallab

mthallab@alwatan.com.kw

Warriors at loggerheads can never achieve peace Waleed Jassem Al-Jassem

M

onarchs and leaders that are actually warriors by nature and who usually rule their countries well (albeit with an iron fist) and play significant roles in winning wars against other neighboring countries might not necessarily be qualified enough to play a successful roles in bringing about a sense of peace. Likewise, members of the current Majority Bloc closely resemble all those warriors who converged on the Determination Square and staged mega rallies. In fact, they even managed to dismiss the former government and in the process also unseated the former prime minister despite the underlying fact that they cooperated and allied with him over various issues in the past. It is ironical indeed that those warriors chose to oust a premier that they once described as a man of reforms! Anyway, let us not talk about the history of those warriors since what we want to highlight here is the fact that members of the Majority Bloc somehow managed to achieve their intended targets as is evident in the fact that they are leading the parliament now. However, one thing is for certain though and that is; although they dominate the parliament they have yet to achieve anything of significance until this moment.

Not only have they failed to implement effective projects; they have yet to come up with effective solutions to help citizens overcome all their frustrations.

Not only have they failed to implement effective projects they have yet to come up with effective solutions to help the citizens overcome all their frustrations. In fact, some of the citizens are now beginning to believe that their country has now been rendered to a private company that is surely expected to face hard and difficult circumstances much sooner than later. I would like to repeat my earlier statement that since these warriors who excel in warfare can never bring themselves to achieve peace, it will be only appropriate to assume that even though they managed to dismiss the government they will never be able to lead and manage the development process. It is a proven fact that warriors usually hand over the countries that they conquer to other people who can administrate them well; but Kuwait is surely exempted from this rule simply because our warriors will be expected to execute both the roles of fighting and rebuilding as well. Our warriors are men specializing in areas of development, wars, construction, education, industry, ag-

riculture and religion as well. Our warriors are those very men who are engaged in all spheres and stages of life and hence; we have no other men in our society but them! MP Al-Mislem recently stated that a sense of frustration is sweeping the country and they might take to the streets again! We need further explanation over the issuance of such a statement because Al-Mislem plays a significant role in running the Majority Bloc that dominates everything in the country! Why would they want to take to the streets and converge at the Determination Square despite dominating the current parliament?? Why do they want to sow and stir the deeds of discontent when they are the sole victors in the local arena? His Highness the Amir has already disclosed that MPs can legislate laws even if the government opposes those laws therefore we wonder why the Majority Bloc can`t achieve the success that people are waiting for! We are still eagerly awaiting the realization of all those illustrious projects in Kuwait that could probably overshadow even Dubai.

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ALWATAN DAILY

views

tuesDAY, may 22, 2012

A green alternative to austerity?

7

Equal rights and the US economy Chrystia Freeland Reuters

If you believe that talent isn’t determined by gender, race or sexual orientation, but is instead a roll of the genetic dice, then the most productive society will be the perfectly fair one. FILE --Drivers navigate in a congestion of traffic at Copacabana in Rio de Janeiro, Brazil, Thursday, May 10, 2012. Host city for the Rio + 20 conference, the conference will unleash new arguments about green jobs, growth, cost increases, cost reductions, changes in values - and everything green, analysts said. (AP)

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This June, thousands of activists, policymakers, and business people will converge on Rio de Janeiro for the third United Nations Sustainable Development Conference (Rio+20), whose theme is the green economy.

Roland Kupers Project Syndicate

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hile austerity in Europe faces increasing social resistance, in principle it has the merit of simplicity.As the debate on fiscal consolidation versus growth intensifies, it is clear that there is little agreement on how to kick-start the economy, beyond fielding broad stimulus packages. One idea is that environmental technology might feed a virtuous cycle of innovation and employment. To some, green growth evokes a countryside covered with windmills and urban roofs lined with solar panels. But it is broader than that. For example, when Airbus moved from injection molding to 3D printing to produce the metal hinges for its airplanes’ doors, it reduced their weight by half, yielding phenomenal savings in material and associated fuel consumption over a lifetime of flying those hinges around the world. Still, it is easier to find exciting anecdotes than it is to show how they scale up to revitalizing an entire economy. Moreover, there is a great diversity of narratives on the green economy - and their proliferation is likely to grow. This June, thousands of activists, policymakers, and business people will converge on Rio de Janeiro for the third giant United Nations Sustainable Development Conference (Rio+20), whose theme is the green economy. The conference will unleash new arguments about green jobs, growth, cost increases, cost reductions, changes in values, consumer choice - green this and green that. As a co-author of A New Growth Path for Europe, a report commissioned by the German government, I am guilty of contributing to this cacophony of complementary perspectives on green growth. The European Climate Foundation had already published its Roadmap 2050, A Practical Guide to a Prosperous, Low-Carbon Europe. Since then, the UN Environment Program has released its Green Economy Report; McKinsey has written about the Resource Revolution; and the International Trade Unions Council has published Growing Green and Decent Jobs - to name but a few.

All take somewhat different approaches and offer different recommendations, making it hard for policymakers to see the forest through the trees. And, at the root of this multiplicity of perspectives lays the fact that economics struggles to explain how growth and innovation move an economy as a whole. The macroeconomic models on which policymakers depend are solid tools in times of smooth and incremental evolution, but green growth is not about gradual change. For example, the European Union’s goal of achieving an 80 percent reduction in greenhouse gas emissions by 2050 implies a complete overhaul of EU infrastructure in just a few decades. Economists’ inability to model such rapid, radical change should not be taken as a condemnation of the discipline; it is simply a reflection of the state of our knowledge, and of the fact that the economy is really, really complicated. We simply do not yet have sufficiently precise insights into how all of its elements interact during times of far-reaching change, whether it be a financial crisis or a growth spurt. Yet, the studies of green growth mentioned above all appear to provide such explanations. So, what do they really tell us? In practice, each is limited to just one or two aspects of the economy, and describes how these interact. Growing Green and Decent Jobs looks at the relationship between investment and jobs. A New Growth Path for Europe examines the impact of expectations and learning-by-doing. Roadmap 2050 focuses on greening the power system. The authors then make a leap of faith to derive conclusions about the economy as a whole. But, while the value of these studies is in the light that they

shed on the parts, the ensuing headlines invariably are about the whole, articulated in terms of GDP and jobs. Each of the studies describes a part of a green economy, but none can capture the whole - not because they are deficient, but because it is simply beyond our capability. That said, the fact that one cannot prove conclusively how green growth would work does not mean that we should give up on the idea. We know from history that waves of innovation, from the steam engine to the information and communications revolution, have led to dramatic increases in economic growth. We cannot prove that a wave of environmental innovation will have a similar effect, but the studies of the parts make such an outcome highly plausible. As humans, we are uniquely equipped to make decisions on the basis of ambiguous information - in fact, we do it all the time. When we choose a career or a spouse in our private lives, or when a politician seizes an opportunity from a plethora of possibilities, the task at hand is always about making highly consequential decisions based on imperfect information. A big pile of green-growth reports demonstrates the plausibility of this path to recovery from an historic economic crisis. It is now up to us to realize its potential. Green growth offers a realistic alternative to the faltering austerity approach to overcoming the current economic crisis. Policymakers should incorporate this thinking into the “beyond austerity” narrative that is taking shape in a growing number of key EU member states. * Roland Kupers is Research Director at THNK and Visiting Fellow at Oxford University.

re equal rights good for the economy? Campaigns against discrimination, like the battles for women’s rights and civil rights in the 1960s and the fight for gay marriage equality today, are usually framed as struggles for justice. We think of these issues as entirely separate from economic concerns and sometimes as even running counter to them. Equal pay legislation and rules against discrimination have often been opposed by business on the grounds they would raise costs. But there is actually a powerful economic argument for equal rights. If you believe that talent isn’t determined by gender, race or sexual orientation, but is instead a roll of the genetic dice, then the most productive society will be the perfectly fair one. A society that is blind to gender, race and sexual orientation will choose the best person for the job - not just the best white, straight man. That logic sounds good, and if you support equal rights for moral reasons, you will want it to be right, too. But is it? A draft paper by four US economists makes the strong empirical case that it is. Fairness, they contend, has made the economy more productive. Chang-Tai Hsieh, Erik Hurst, Charles Jones and Peter Klenow argue that as much as 20 percent of the growth in productivity in the United States over the past 50 years can be attributed to expanded opportunities for women and blacks. “Changes in things that have affected women or blacks specifically have yielded a sizable impact on overall US earnings growth,” Hurst told me. “That is a big effect.” “If we believe in a world where there was discrimination faced by women and blacks, then not having women and blacks as lawyers and doctors, for example, was costly for society, if we think they are born with the same distribution of talent as white men,” Hurst said. Richard Florida, a professor at the Rotman School of Management at the University of Toronto and a long-standing advocate of the view that diversity is a driver of economic growth, cheered the results. “Places that are segregated really don’t grow.” In case you are behind in your viewing of Mad Men, the paper by Hurst et al. is a reminder of how truly supreme white men were in the United States half a century ago. In 1960, 96 percent of lawyers were white men, 94 percent of doctors were white men and 86 percent of managers were white men. The subsequent 50 years were a revolution. By 2008, white men accounted for just 61 percent of lawyers, 63 percent of doctors and 57 percent of managers. Few women or blacks would describe the United States today as a perfectly color- or gender-neutral economy. But that huge shift over the past 50 years is a testament to the lowering of discriminatory barriers, which the economists term “a reduction in frictions.” Overall, the change was tremendously beneficial to the economy - the paper attributes as much as 20 percent of increased productivity over the past half-century to greater equality and “the resulting improved allocation of talent.” Naturally enough, female and black workers have felt the change directly in their paychecks. According to the paper, the reduction in frictions since 1960 increased real wages for white women 39 percent; those of black women, who suffered double discrimination and therefore got a double boost, 57 percent; and those of black men 44 percent. The story in their draft paper on women and blacks is positive - the United States has become fairer and therefore richer. But the four economists suspect that for one category of Americans, the poor, the external barriers to professional success have actually increased. “We suspect that similar barriers facing children from less affluent families and from regions of the country hit by adverse economic shocks have worsened in the last few decades,” the economists write. “If so, this could explain both the adverse trends in aggregate productivity and the fortunes of less-skilled Americans over the last decades.” Hurst made sure I understood that this final point was just a hypothesis. The economists plan to run it through their model over the next few months and report on their results later this year. But if their theory pans out, their work will tell a story about America over the past 50 years that many of us intuitively will feel to be true - a country that discriminates less and less on the basis of gender, race and now sexual orientation, but where the class divide is becoming so stark as to constitute a new form of discrimination. *Chrystia Freeland is a Reuters correspondent. The views expressed here are her own.

A breakthrough opportunity for global health Joseph E. Stiglitz Project Syndicate

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very year, millions of people die from preventable and treatable diseases, especially in poor countries. In many cases, lifesaving medicines can be cheaply massproduced, but are sold at prices that block access to those who need them. And many die simply because there are no cures or vaccines, because so little of the world’s valuable research talent and limited resources is devoted to addressing the diseases of the poor. This state of affairs represents a failure of economics and law that urgently needs to be corrected. The good news is that there are now opportunities for change, most promisingly through an international effort headed by the World Health Organization that would begin to fix the broken intellectual-property regime that is holding back the development and availability of cheap drugs. Two main problems limit the availability of medicines today. One is that they are very costly; or, more accurately, the price charged for them is very high, though the cost of producing them is but a fraction of that amount. Second, drug development is geared toward maximizing profit, not social benefit, which skews efforts directed at the creation of medicines that are essential to human welfare. Because the poor have so little money to spend, drug companies, under current arrangements, have little incentive to do research on the diseases that afflict them. It doesn’t have to be this way. Drug companies argue that high prices are necessary to fund research and development. But, in the United States, it is actually the government that finances most health-related research and development - directly, through public support (National Institutes of Health, National Science Foundation), and indirectly, through public purchases of medicine, both in the Medicare and Medicaid programs. Even the part that is not government-financed is not a conventional market; most individuals’ purchases of prescription medicines are covered by insurance. Government finances health-care research because improved medicines

Advocates from AIDS Healthcare Foundation protest Gilead Sciences’ drug pricing policies outside the Westin Airport Hotel on Thursday, May 10, 2012 in San Francisco, Calif. In America and most of the world, drug prices are still exorbitant and the spread of knowledge is tightly limited, analysts said. (AP)

are a public good. The resulting knowledge benefits everyone by stopping epidemics and limiting the economic and human toll of widespread illness. Efficiency requires sharing research as widely as possible as soon as it is available. Thomas Jefferson compared knowledge to candles: when one is used to light another, it does not diminish the light of the first. On the contrary, everything becomes brighter. Yet, in America and most of the world, drug prices are still exorbitant and the spread of knowledge is tightly limited. That is because we have created a patent system that gives innovators a temporary monopoly over what they create, which encourages them to hoard their knowledge,

lest they help a competitor. While this system does provide incentives for certain kinds of research by making innovation profitable, it allows drug companies to drive up prices, and the incentives do not necessarily correspond to social returns. In the health-care sector, it may be more profitable to devote research to a “me-too” drug than to the development of a treatment that really makes a difference. The patent system may even have adverse effects on innovation, because, while the most important input into any research is prior ideas, the patent system encourages secrecy. A solution to both high prices and misdirected research is to replace the current model with a government-supported

prize fund. With a prize system, innovators are rewarded for new knowledge, but they do not retain a monopoly on its use. That way, the power of competitive markets can ensure that, once a drug is developed, it is made available at the lowest possible price - not at an inflated monopoly price. Fortunately, some US lawmakers are taking a strong interest in this approach. The Prize Fund for HIV/AIDS Act, a congressional bill introduced by Senator Bernie Sanders, is just such an initiative. His bill also contains an important provision aimed at encouraging open-source research, which would move the current research model away from secrecy toward sharing. But, globally, our innovation system needs much bigger changes. The WHO’s efforts to encourage broad reforms at the international level are crucial. This spring, the WHO released a report that recommends solutions similar to those proposed in the US Senate bill, but on a global level. Importantly, the report, “Research and Development to Meet Health Needs in Developing Countries,” recommends a comprehensive approach, including mandatory funding contributions from governments for research on developing countries’ health needs; international coordination of health-care priorities and implementation; and a global observatory that would monitor where needs are greatest. In late May, the international community will have a chance to begin implementing these ideas at the WHO World Health Assembly - a moment of hope for public health around the world. Reforming our innovation system is not just a matter of economics. It is, in many cases, a matter of life and death. It is therefore essential to de-link R&D incentives from drug prices, and to promote greater sharing of scientific knowledge. For America, the Sanders bill marks important progress. For the world, the WHO’s recommendations represent a once-in-a-generation opportunity to remedy a long-standing and egregious inequity in health-care, and, more broadly, to set a model for governance of global public goods befitting an era of globalization. We cannot afford to let this opportunity pass us by. * Joseph E. Stiglitz is University Professor at Columbia University, a Nobel laureate in economics, and the author of Freefall: Free Markets and the Sinking of the Global Economy.


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Iran plans oil export terminal outside Gulf

BUSINESS

TUESdAY, may 22, 2012

m ar ket watc h KUWAIT 0.1% 6415

DUBAI

QATAR

OMAN

ABU DHABI

1.47% 1488

0.24% 8423

0.08% 5623

0.21% 2468

DUBAI: Iran plans to build an oil terminal outside the Strait of Hormuz to ensure exports in the event of Gulf shipping problems and to ship Caspian oil, the oil ministry news website said on Monday. Shana reported the head of the Iranian Oil Terminals Company (IOTC), Seyyed Pirouz Mousavi, saying Iran plans to build a new export terminal at Bandar Jask, on the Gulf of Oman coast of Iran. It would be connected to the Caspian Sea port of Neka using a one million barrel a day pipeline.

OIL MARKETS BAHRAIN 0.21% 1146

EGYPT

SAUDI

1.8% 4878

0.71% 7029

US Crude $91.83 $0.03 London Brent $107.77 $0.63 Kuwait Crude $106.67 $0.87 Information Courtesy: KAMCO

CURRENCIES US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Indian Rupee

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Philippine Peso

Buy 0.2793 Sell 0.2795 Buy 0.356 Sell 0.3564

KUWAIT: Oil revenues are expected to reach 28.2 billion Kuwaiti or 45 percent higher than the previous year, based on average Kuwait Export Crude (KEC) prices of 110 US dollars per barrel (pb), according to a specialized report on crude oil and budget projections prepared by the National Bank of Kuwait (NBK). If as expected, spending comes in at 5-10 percent below the government’s budget, last year’s budget surplus could close between KD 11.3 billion and KD 12.4 billion before allocations to the Reserve Fund for Future Generations (RFFG). Official figures for the first eleven months of the year show a surplus of KD 16.1 billion, but this surplus should decline once late spending is included. According to the report, oil prices saw significant declines through April and continued to fall in early May. From a peak of $124 pb in mid-March, the price of KEC had fallen to under $109 by May 8, including a sharp

drop in the final few days. Prices have now returned to the $100-110 pb range that endured for most of 2011. Brent crude has fallen $16 from its March peak of $128 pb, while West Texas Intermediate (WTI) - the main US benchmark crude - has dropped back below $100 for the first time since February, stated the report. Analysts’ projections for oil demand growth are little changed over the past month, but some had already come down a long way since the start of the year. The International Energy Agency, for example, has reduced its demand growth outlook for 2012 to 0.8 million barrels per day (mbpd) (0.9 percent) from 1.3 mbpd (+1.4 percent) in December. Alongside weaker economic growth, higher oil price assumptions have contributed to the downward revisions to demand; recent price falls, therefore, could prevent demand pessimism from gathering. Most other forecasters expect similar demand growth of 0.8 to 0.9 mbpd in 2012, with falling demand in Organization

for Economic Cooperation and Development (OECD) countries (up to -0.5 mbpd) more than offset by growth in emerging markets. According to the report, crude oil output of the Organization of Petroleum Exporting Countries excluding Iraq (OPEC-11) stood at 28.5 mbpd in March, up by only 11,000 bpd from February levels. Large declines were witnessed in Angola (98,000 bpd) and Iran (71,000 bpd). The latter’s production reached 3.3 mbpd in March, its lowest level since 1992 and almost 200,000 bpd below end-2011 levels. Meanwhile, Libyan production has continued to recover rapidly, rising by 112,000 bpd in March to 1.4 mbpd, 0.2 mbpd shy of pre-war levels. In addition to its usual figures collected from third party sources, OPEC has begun to quote production figures that member countries supply themselves. Saudi reported that production reached 9.9 mbpd (up 69,000 bpd) and Iran reported that their output had actually increased in March.

New rules to boost Kuwait capital markets KUWAIT: Kuwait’s new loan-to-deposit ratio rules for banks are aimed at encouraging capital market development, improving assetliability matching and boosting credit supply, the country’s new central bank governor said on Monday. Under legislation that took effect on May 11, ratios are now calculated based on loan maturities. Banks can now group other sources of funding along with deposits in calculating their loan-to-deposit ratios. The new rules allow interbank deposits, long and medium-term loans, certificates of deposit and bonds or Sukuks as part of the calculation, Governor Mohammad Al-Hashel said. “This will increase the amount of banks’ available funds for lending,” he said in a written response to questions. “Inclusion of bonds and Sukuks would hopefully promote their usage and demand, thus supporting capital market development.” For maturities below three months, the loan to deposit ratio must not exceed 75 percent, according to the new rules. “(The) higher haircut for short-term deposits is aimed to further curtail the risk of any potential asset-liability mismatch,” he said. “It is also to help banks develop a more stable funding base, since now banks would have the incentive to raise more deposits of longer maturities,” said Al-Hashel, who took office in March. Al-Hashel replaced veteran policymaker Sheikh Salem AbdulAziz Al-Sabah, who headed the central bank for 25 years before resigning in March. The new rules also state that if the funding matures after one year, banks may have a loan to deposit ratio of 100 percent, and 90 percent if the funding matures between three months and a year. This is aimed at boosting credit supply, Al-Hashel said, adding that this would also encourage banks to raise deposits of longer maturities, ensuring a more stable funding base. The old rules stipulated an 85 percent loan to deposit ratio. -Reuters

BLME’s dollar income fund sees top percentile performance LONDON: Bank of London and The Middle East (BLME), the largest Islamic bank in Europe whose main shareholders are Boubyan Bank and the Public Institution for Social Security, announced in a press release on Monday that its investment grade ‘US Dollar Income Fund’ has delivered top percentile performance and is ranked sixth out of 763 funds over three years in the US dollar global money markets sector, according to Reuters fund ranking service Lipper Hindsight. Managed by former F&C fund manager, Jason Kabel, the Fund has delivered consistent positive returns of 3.28 percent since its launch in March 2009. The fund currently has assets under management of more than $50,000,000 and is open to institutional and professional investors in the UK, Europe and Middle East. The fund is rated investment grade by Moody’s. Jason Kabel, manager of the BLME US Dollar Income Fund, commented: “We launched this fund three years ago, and despite three years of major market turmoil we have delivered a consistent income stream for investors, outstripping the vast majority of our conventional peers.We are now in a position to capitalise on our strong performance track record and to inform investors about the benefits of an investment approach with transparency, fairness and integrity at its core.” The BLME US Dollar Income Fund is structured as a Luxembourg domiciled SICAV-SIF and aims to provide a competitive level of income together with a high degree of security of capital, while at the same time maintaining good levels of liquidity for investors. The fund seeks to achieve this by investing in a diversified portfolio of high quality Islamic money market instruments. The BLME US Dollar Income Fund was the first fund launched by Bank of London and The Middle East plc (BLME), the largest Islamic bank in Europe. Subsequently, BLME has launched a number of products including its Light Industrial Building Fund and its Sharia High Yield Fund. Nigel Denison, Head of Asset Management at BLME adds, “We have striven to bring balance and choice to the industry with our fixed income offering and the positive performance across our fund range is testament to the strength of our approach to investment management. In the years to come, we believe that product innovation, increased fund flows and a buoyant Sukuk market will be central to the continued evolution and long-term success of the Islamic Asset Management industry.”

A man walks past a logo of the Reserve Bank of India (RBI) in front of its building in Kolkata May 21, 2012. The rupee fell below the key psychological level of 55 to hit a new record low on Monday, setting up the prospect of further falls unless the central bank takes measures or intervenes more aggressively, traders said. (Reuters)

KSE shows downward trend at end of session KUWAIT: Kuwait Stock Exchange’s KSX 15 index ended Monday’s trading session with a drop of 3.67 points to read 974.26 points. The price index lost 6.72 points to 6,415.24 points and the weighted index shed 0.77 points to 410.38 points. Trades came to 5,329 transactions, worth 32,474,305.29 Kuwaiti dinars and volume reached 428,098,342 shares. Top share for the day was that of Al-Safat Real Estate Company. The biggest loser was Credit Rating and Collection Company, and top volume share was that of National Ranges Company.

Buy 0.4409 Sell 0.4413

Buy 0.003521 Sell 0.003525

Buy 0.0745 Sell 0.0745

Buy 0.07604 Sell 0.0761

Buy 0.07677 Sell 0.07670 Buy 0.7408 Sell 0.74141

Buy 0.005084 Sell 0.005079 Buy 0.006468 Sell 0.006456

Prices in Kuwaiti fils as of May 21, 2012 Courtesy: KAMCO

Budget surplus of KD 3 -13 billion expected for fiscal year Compiled by Al Watan Daily

See page 10

The 14 sector indices were mixed upon closing. The majority of indices at Kuwait Stock Exchange were green by 9:30 a.m. Monday, with the KSX 15 index reading 978.02 points, a gain of 0.09 points, the weighted index reading 412.06 points, an up of 0.91 points, and the price index reading 6,438.45, an up of 16.49 points. Trades came to 898 transactions, worth KD 8,071,768.058, with volume at 66, 865,620 shares. There were only two sector indices in red, and four unchanged at the time, with the rest all showing green. -KUNA

In Focus

H Silent Savio S. Gomes

Exclusive to Al Watan Daily

KUWAIT: The recent election of Francois Hollande has brought to the fore, the debate of ‘H’ silent. H silent stands for the ninety nine percent who have been largely silent for the past two decades - (h)ungry, (h)angry, (h)uro zone, (h)austerity, (h)inflation, growt(h), safe (h)aven, (h)waii, Its’ been years since there was an official study relating the developments surrounding male facial hair and economic or social developments. In prehistoric societies it was common for me to have a beard, however, that was probably because the shaving kit had not yet been invented. In ancient civilizations beards were a sign of honor and were cut only as a severe form of punishment. Alexander the Great insisted that his soldiers could not have beards and the logic of that seemed questionable. 16th century businessmen came up with the ideas of forked and stiletto beards. Bearded men were viewed in western societies as less caring, less cheerful and less generous. Among Celtic tribes Otto the Great swore by his beard when decreeing something serious. President Lincoln made beards popular for Americans, however, only five Presidents wore a beard and only two more had moustaches. Liberty and the economy in the USA seemed to do particularly well under Presidents with facial (h)air. William Howard Taft (1913) was the last President of the USA to sport a moustache and since then national debt levels have risen significantly. The moustache and beard in western economies has been associated with solid blue collar workers and the clean shaven look, in more recent times, in the west, has been associated with the ‘1%’ banking look. Somehow, clean shaven austerity protesters in Europe, do not look as convincing. Of course, it has not helped matters that Steve Jobs did have facial hair and Bill Gates does not, and that is only the thin edge of the wedge between Apple and Microsoft. John Montagu held several important public posts during his lifetime, including Secretary of State and First Lord of the Admiralty. His lacklustre performance in public service led to the phrase ‘seldom has any man held so many offices and accomplished so little’. John Montagu’s lasting legacy, however, had little to do with the posts he held with or without distinction. Montagu was the 4th Earl of Sandwich and was known to eat meals in a hurry slices of meat placed between two slices of bread. His friends ordered ‘the same as Sandwich’ and the ‘sandwich’ was born. 2012 may or may not be the last year on the Mayan calendar, but it is the 250th anniversary of the sandwich - a memorable event in human history. Lord Sandwich was also a supporter of Captain Cook. Captain Cook (strangely, almost everything lasting that Montagu accomplished had an association with food) named the Sandwich Islands and Montague Island off Australia, the South Sandwich Islands and the Montague Island off Alaska, after Lord Sandwich. The Sandwich Islands were later renamed Hawaii. The restaurant sector, thankfully, stayed with the ‘sandwich’, somehow having a ‘Hawaii’ would not seem the same. The business of aromas and scents has made huge strides in the past two decades. There is ‘Motor Oil’ by Save on Scents that captures the thick scent of engine oil, Gasoline, also by Save on Scents that has the scent of octane. Air Aroma out of Australia has created the scent of technology, replicating the scent of a fresh MacBook Pro. Leather Scent, by Chemical guys is a spray that is recommended for cars, boats, hotels, schools, restaurants, and upholstery generally. Patrick McCarthy, a vice president sales at Microsoft is better known for working to create ‘Money’ which is cologne that smells like new dollar bills. ‘Money’ after its launch comes in both’ his’ and ‘hers’ version, and sells for less than fifty dollars. The views expressed above are the writer’s own and do not necessarily represent those of AlWatan Daily and its staff. Savio is a financial and management advisor with a background in economics. He has carried outconsulting and management intervention projects in several countries such as USA, UK, Australia, Kenya, Armenia, Kuwait, Saudi Arabia etc. The writer may be contacted on saviosgomes@gmail.com.

Global says wins $250 million Brent edges up toward case against UAE bank $108, Greece weighs KUWAIT: Kuwait’s Global Investment House said it won a long-running legal battle over an aborted buy of a stake in National Bank of Umm Al Qaiwain (NBQ) after an appeals court ordered the Abu Dhabi-listed bank to return its deposit plus interest. The 250 million US dollars sum was placed with NBQ in August 2008 as the first part of Global’s purchase of a 20 percent stake in the bank through a 2.36 billion UAE dirhams ($642.5 million) convertible bond issue. However, as financial markets slumped in late-2008 and the Kuwaiti firm encountered debt problems which forced it into a restructuring, Global cancelled the planned purchase and wanted the money back, but NBQ said it was entitled to keep it. Last year, Global won a initial ruling from a Dubai court which NBQ later appealed. A United Arab Emirates (UAE) court halted the refund decision in June

pending the appeal. On top of the $250 million original deposit, NBQ will also pay an extra $79 million in interest, Global said in a statement on the Dubai bourse. The money will be used to strengthen the company’s financial position, it said, without elaborating. The company is in the midst of a second debt restructuring in three years. Having completed a $1.7 billion rescheduling in 2009, it said in September it would ask creditors to halt repayments while it sought a new deal. Shares in Global, one of the largest investment houses in the Gulf state, have not traded on the Kuwait Stock Exchange since December after the bourse suspended the stock for having accumulated losses which exceeded 75 percent of its capital. Earlier this month it reported a third straight yearly loss of 57.5 million Kuwaiti dinars. -Reuters

LONDON: Oil prices edged higher on Monday, climbing back towards 108 US dollars per barrel in a reaction to heavy losses last week, but worries about Greece’s possible exit from the euro counterbalanced talk of the prospect of an economic stimulus in China. A summit of the G8 at the weekend failed to deliver any signal that Europe would act quickly to address the risk of a chaotic Greek exit from the euro, leaving investors in a state of alert, curbing an upturn in oil prices. “Gains may be short-lived as EU politicians as usual are having a hard time agreeing on anything. However an interesting week ahead with the European debt crisis posing a risk on the downside and the potential for nuclear talks with Iran to fail on the upside,” said Thorbjoern Bak Jensen, oil analyst at Global Risk Management. Brent crude was up 73 US cents to $107.87 a barrel by 1151 GMT, up from a 2012 low on Friday. In the last three weeks, Brent has shed almost 11 percent - its largest threeweek fall since May 2011. US crude gained 28 cents to $91.76, its first rise in seven sessions. Barclays Capital’s technical chart analysis team predicted further sell-offs in oil markets saying it was bearish on both crude benchmarks in the medium term. “We are bearish for WTI and look for a move toward $90.45. Beyond there, we target $90.00 and then $89.00. The aggressive selloff in Brent broke below our target near $108.50 and compels us to expect further downside toward $104.75,” the team wrote in their daily technical note. -Reuters


10

ALWATAN DAILY

BUSINESS

tuesDAY, may 22, 2012

Iran plans oil export terminal outside Gulf China’s Iran oil imports rebound on month, down on year

DUBAI: Iran plans to build an oil terminal outside the Strait of Hormuz to ensure exports in the event of Gulf shipping problems and to ship Caspian oil, the oil ministry news website said on Monday. Shana reported the head of the Iranian Oil Terminals Company (IOTC), Seyyed Pirouz Mousavi, saying Iran plans to build a new export terminal at Bandar Jask, on the Gulf of Oman coast of Iran. It would be connected to the Caspian Sea port of Neka using a one million barrel a day pipeline. Mousavi said the new terminal would enable Iran to export more oil from Caspian producers and provide a fall-back option for Iran’s main export terminal at Kharg Island if there were any problems exporting Iran’s own oil from the Gulf. A European Union ban on importing Iranian oil comes into effect on July 1 and many of its customers in Asia are reducing imports due to Western pressure, forcing Iran to fill existing storage at Kharg and on oil tankers moored nearby. “In the event of any type of problem in exporting crude oil from the Kharg terminal, this terminal can provide back up for exports,” Shana quoted him as saying. Mousavi said the planned terminal outside the vital Gulf oil shipping route - which Tehran has threatened to block during a long standoff with the West over its nuclear program - would have a storage capacity of 20 million barrels and cost around 2.2 billion US dollars to build. Kharg has 22 million barrels of storage. Gulf exporters depend on the Strait of Hormuz to export most of their oil and Iran’s total dependence on its narrow shipping lanes is seen as a deterrent to attempting any blockade. The United Arab Emirates hopes to open a new Gulf bypass pipeline to the Gulf of Oman this year and many companies are boosting

FILE- Oil tankers Qi Lin Zuo of China and Sti-Matador (L) stand attached to mooring stations near a refinery in Bayonne, New Jersey in this August 24, 2011 file photo. China’s crude oil imports from Iran rebounded more than 50 percent in April from March after resolving pricing disputes over term contracts, but shipments fell nearly a quarter from a year ago, with Saudi Arabian supplies helping to plug the gap. (Reuters)

storage facilities across the water from Bandar Jask, spurred by threats to shipping through Hormuz. Iran has invested in import capacity at its Caspian port of Neka to enable crude swaps with Turkmenistan and Kazakhstan, but it cur-

rently consumes the oil domestically because of the lack of pipeline links with ports in the south of the country, according to the US Energy Information Administration (EIA). In more news, China’s crude oil imports from Iran rebounded more than 50 percent in

Aramco, ADNOC offer naphtha at record prices

CAPITALS: Saudi Aramco, the top naphtha supplier to Asia, offered naphtha supplies for lifting in the second half of this year at premiums of 25 US dollars to $33 a ton to its own price formula, making these the highest offers it has ever quoted, traders said on Monday. Saudi Aramco is offering the following grades: A310 at $33 a ton premium, followed by A180 at $31 a ton premium, Jubail at $29 a ton premium and Rabigh/Jeddah naphtha at $25 a ton premium. The premiums are about 25-74 percent higher than what it had fetched for naphtha lifting in second-half of last year. The offers came a day after ADNOC had asked for record offers. But buyers were disappointed with the asking price, citing higher supplies ahead amid falling demand due to weak petrochemical margins. “This is a term contract, so weaker demand ahead has to be factored in. On paper, the naphtha market is already in contango,” said a trader. Contango reflects to prices being in discounts while backwardation refers to prices being in premiums. Saudi Aramco will end its talks with buyers on Tuesday, cutting down from its usual one-week meeting. Traders said it could be that the supplier wants to seal the deals before the somber mood deepens.

Cracks, the margins for refining Brent crude into naphtha, extended losses to hover around a 5-1/2 month low at $64.58 a ton. In more news, Abu Dhabi National Oil Company (ADNOC) has offered term contracts for three naphtha grades at 28 US dollars to $29.50 a ton premiums to its own price formula on a freeon-board basis, making these its highest offers ever, traders said on Monday. ADNOC’s fresh offers for splitter naphtha were at $28 a ton premium, followed by low Sulphur grade at $28.50 a ton premium and pentane naphtha at $29.50 a ton premium, all for July 2012 to June 2013 lifting. Buyers are to reply to ADNOC by Tuesday and they are likely to ask for lower premiums. The company had held a meeting with buyers in Singapore last week and the official offers were made by Sunday via fax. The naphtha market has weakened sharply as demand falls and supplies are expected to rise. Taiwan’s Formosa has deferred naphtha shipments in view of lower cracker runs at its 2.93 million tons per year (tpy) Mailiao cracking complex. But more supplies are expected as Saudi Aramco has restarted a 225,000 barrels per day (bpd) condensate splitter. The unit is estimated to produce about 150,000 tons of A310 naphtha a month. -Reuters

April from March after resolving pricing disputes over term contracts, but shipments fell nearly a quarter from a year ago, with Saudi Arabian supplies helping to plug the gap. China and India are under Western pressure to cut purchases, since the actions of the

world’s top buyers of Iranian oil will determine the success of a strategy aimed at crimping Iran’s oil revenue to halt Tehran’s controversial nuclear program. Crude oil imports from Iran fell 23.7 percent in April on the year to 388,034 barrels per day (bpd), Chinese customs data showed on Monday. However, from a month ago, imports were up 53.2 percent after the two countries resolved term contract disputes in late March. In the first four months of the year, China’s crude imports from Iran were 355,989 bpd, down 31 percent from a year ago. Still, April’s rebound from March may not be fully reflected in the latest customs data because it takes about 22 days to ship oil to China. Unipec, the trading arm of top Asian refiner China Petroleum & Chemical Corp (Sinopec), will buy 10 to 20 percent less crude from Iran under an annual contract for 2012 compared with last year, a Chinese industry executive with direct knowledge of the matter has told Reuters. But an Iranian official said in late April that China had not cut its crude imports in 2012. The United States has exempted Japan and 10 European nations from financial sanctions because they have significantly cut purchases of Iranian crude oil. China and India have not, however, publicly asked for a waiver and have not been included on the exemption list. China has been scouring the world for crude to make up for the lost Iranian oil. Its extra imports in April from Saudi Arabia, Angola and Russia more than offset the loss of imports from Iran, the data showed. China imported 1.07 million bpd of crude oil from top oil exporter Saudi Arabia in April, 14 percent higher than a year earlier and 15 percent higher than 929,906 bpd in March, customs data showed. Similarly, imports from Angola jumped 41 percent on the year to 919,338 bpd last month and cargoes from Russia rose 20 percent to 448,219 bpd. -Reuters

Dubai’s Drake closes in on $300 million Iraq contract ABU DHABI: Dubai contractor Drake & Scull , which has shifted its focus abroad after a slowdown in the United Arab Emirates’ property sector, is close to winning a 300 million US dollar contract in Iraq, the firm’s chief executive said on Monday. The contract will be an oil and gas project to build a pipeline in Basra, Iraq, chief executive Khaldoun Tabari told reporters

on the sidelines of a conference in Abu Dhabi. “We are very close to finalizing the deal,” he said. Drake specializes in mechanical, electrical and plumbing (MEP) work and will also bid for the MEP contract in Abu Dhabi’s multibillion dollar airport expansion, Tabari said. The MEP project is likely to be worth

around $1.5 billion and will be awarded after Abu Dhabi signs the main $3 billion contract for the airport, with an Arabtec Holding consortium the preferred bidders for the latter. Drake, which operates in the Middle East as well as Thailand and Germany, is also eyeing a couple of projects in India and Sri Lanka, Tabari added. -Reuters

South Korea poised to halt Iran oil imports from July SEOUL: South Korea will effectively become the first of Iran’s major Asian customers to halt oil purchases from July 1, when a European Union insurance ban will prevent further imports. South Korea’s largest oil refiner SK Energy will stop Iranian oil imports after the ban takes effect, two sources with direct knowledge of the matter said on Monday. Last month, industry sources said the only other South Korean refinery that buys Iranian crude, Hyundai Oilbank, would stop imports from June. Iran exports most of its 2.2 million barrels of crude per day to Asia, home to its four biggest buyers China, India, Japan and South Korea. But U.S. and EU sanctions aimed at halting Iran’s nuclear program by reducing its oil revenues have made purchases difficult, with the impending EU ban on insurance for Iranian crude shipments so far proving an effective deterrent as all Iran’s

Asian customers struggle to secure coverage. The sources declined to be identified because they were not authorized to speak to the media on a topic the Korean government considers politically sensitive. “SK Energy won’t lift Iranian crude oil after lifting a two million barrel cargo in early June,” one of the two sources said. “SK Energy will not import Iranian oil for July arrival.” SK Energy had agreed to import 130,000 barrels per day (bpd) of Iranian crude this year under a long-term supply deal, while Hyundai Oilbank had agreed to import 70,000 bpd. Both refiners have declined to comment on their plans. Insurance stumbling block

The United States and Europe are trying to squeeze the revenues Iran makes from oil exports to force it to halt a nuclear

program they fear will be used to make weapons but which Tehran says is for power generation. South Korea’s government has shied away from taking an official stand on the issue of Iranian oil imports. The United States is its main guarantor for security against North Korea, which has a nuclear weapons program. Seoul is seeking a waiver from the US financial sanctions by reducing its oil imports from Iran and has been negotiating with the EU over the insurance ban. The government is also believed to be taking actions to limit exports to Iran, over concerns that Iran will struggle to make payment as its foreign exchange earnings are squeezed. Japan, the only Asian nation to have secured a waiver from US sanctions, cut its Iran crude imports in May by about 60 percent compared to the average of the first three months of the year. -Reuters

Banks need a system for measuring and strengthening customer loyalty Emmanuel Yoo, Partner Tom De Waele, Principal Bain & Company Exclusive to Al Watan Daily

CAPITALS: As the Middle East banking sector becomes increasingly competitive and consolidated, regional banks will face shareholder pressure to focus on value rather than revenue growth. However, a recent Bain study of companies from a wide range of industries in 12 countries shows how difficult this is to achieve. Over the past decade, just one company in eight proved to be a Sustained Value Creator, by registering 5.5 percent annual sales and earnings growth and above-average total shareholder return. One key to sustainable value creation for regional banks is scale; among Saudi banks, for example, the largest players are also the most profitable. Given that scale is important, banks must focus on retaining their customers and capturing those of the competition through improving customer satisfaction. Indeed, Bain studies have shown that Sustained Value Creators enjoy customer satisfaction nearly 2.5 times higher than competitors (as measured by our Net Promoter Score). Despite the proven importance of customer satisfaction as a key factor in profitability and value creation, companies have a poor understanding of their customers’ level of satisfaction. According to a Bain study, 80 percent of companies believe they provide a superior experience, while customers concur in only 8 percent of cases.

This suggests three big challenges for regional banks that set out to improve customer experience: 1) Customer experience is difficult to design and control 2) It needs to be accurately measured 3) Disciplines that sustain and improve it need to be embedded in the bank culture in order to achieve customer-led growth. One big reason why a coherent customer experience is so difficult to achieve is that it is influenced by a wide range of variables, from “hard” inputs, such as products and pricing, to ‘soft’ inputs, such as service delivery, brand image, and convenience. This broad range of inputs helps explain the absence of accurate customer satisfaction measurements within most organizations. While measuring financial profit has been well developed for more than a century, measuring customer loyalty is not as far advanced. Most customer loyalty measurements face several challenges, including: limited track records, lack of standards, lack of focus throughout the organization, and inconsistent and often improvised data gathering processes. Loyalty measurement tools in use today tend to be cumbersome, reach a small percentage of customers, have limited proven impact, and lack tangible outcomes. Banks need a new system to manage customer satisfaction effectively. A single, holistic query is more useful for management than a detailed survey based on a complex breakdown of factors. For example, Bain has defined a metric called the Net Promoter Score (NPS) based on a single, key ques-

tion. It asks customers, “On a scale of 0-10, how likely would you be to recommend our company to a friend or colleague?” To compute its NPS, the company subtracts the percentage of detractors (those giving a score from 0 to 6) from the percentage of promoters (those answering 9 or 10). While the Net Promoter Score is simple, it is also a powerful and robust tool with proven results in measuring customer loyalty. In a Bain study of banking customers, promoters: • Stayed longer - Promoters’ attrition rate was 67 percent below that of detractors. • Bought more - Promoters’ share of spending with their primary bank was 44 percent higher than that of detractors. • Referred others - Promoters were over five times more likely to recommend the bank than detractors. The total value of creating promoters is compelling. Over a five year period, on average, promoters generate revenue that is 2.4 times higher than that of detractors. To be effective, the Net Promoter Score must be embedded in a bank’s operations. This involves both a top-down and bottom-up approach. The top-down approach uses an NPS survey to gauge the bank’s performance and help decision makers set improvement targets. The complementary bottom-up approach provides feedback to employees for improvement. In our experience, implementing a full potential Net Promoter System requires eight key elements: Measure performance - It is important to design a robust metric that allows a bank to understand its baseline performance, define

improvement targets, and evaluate progress. Understand the economics of loyal customers - To evaluate which actions are most likely to win promoters or avoid creating detractors, banks need to quantify the incremental value of a satisfied customer. Loyalty economics are critical for developing a business case based on customer satisfaction. Identify ‘moments of truth’ - Just a few customer interactions, such as taking out a loan, reporting fraud, or replacing a lost or stolen credit card have disproportionate influence on earning customers’ loyalty and deserve the disproportionate attention of bank employees. Banks need to be able to identify and monitor these closely. Close the loop - Defining a closed-loop feedback process enables employees to monitor and improve performance continuously. This includes identifying customer feedback touch points, defining the method and frequency of feedback, and putting in place a standard reporting format across the organization. Engage the front line - It is also important to motivate employees to embrace customer satisfaction through training programs and financial incentives that reinforce customer loyalty, real time feedback, and coaching on customer service. Instill a bias for action - Once the measurement process is in place, the next step is to set up cross-functional teams to lead NPS improvement initiatives and facilitate the sharing of best practices. Support with robust infrastructure Throughout the transformation process to a customer-centric model, firms must develop a robust infrastructure to support the NPS imple-

mentation, including adequate resources, welldefined reporting tools, and sufficient IT support to sustain the effort. Lead and communicate - Customer-centric banks need to embed a loyalty focus deep in their organization through clear communication and leadership. Critical for doing this are direct employee participation, a centralized team to manage cultural transformation, loyalty report cards for tracking employees’ performance, and alignment of management compensation with loyalty targets. Much more than a one-off initiative, the Net Promoter System is a holistic transformational approach to achieve a durable customercentric organization and lay the foundation for sustained value creation. The United Arab Emirates (UAE), and the region overall, have experienced tremendous growth in banking until 2008. Banks successfully focused on growth through new customer acquisition. This strategy is no longer sustainable now that the market’s underlying growth has slowed down and competition has reached peak levels. Differentiating on customer experience is today one of the key topics on chief executive officers’ (CEO) agendas in the Middle East to increase their bank’s competitiveness. What is at stake is the ability to outgrow the competition and to enjoy lower acquisition and marketing costs thanks to loyal customers. Disclaimer: Please note that the views and opinions presented in the column are the company’s own and do not necessarily represent those of Al Watan Daily and its staff.


ALWATAN DAILY

BUSINESS

11

TUESDAY, MAY 22, 2012

Yahoo! Alibaba reach $7 billion deal

CAPITALS: Yahoo! announced Monday it has reached an agreement with Alibaba Group on a staged and comprehensive plan to unlock the Yahoo’s investment in Alibaba. The plan, which was announced in a release, includes a transaction this year where Alibaba will purchase up to onehalf of Yahoo’s current stake in the top Chinese e-commerce company. The transaction could generate more than seven billion dollars in proceeds should Alibaba buy the full amount. Both companies also set up a framework where Yahoo! can monetize the remaining interest in the Chinese company in stages. First at the time of an initial public offering in the future, Alibaba will be required to either repurchase one-half of Yahoo’s remaining stake at the initial public offering (IPO) price or allow Yahoo! to sell those shares at the IPO. Also, following an Alibaba IPO, Yahoo! has the option to sell the remaining share at any time it chooses. “Today’s agreement provides clarity for our shareholders on a substantial component of Yahoo!’s value and reaffirms the significance of our relationship with Alibaba,” said Ross Levinsohn, Interim CEO of Yahoo! said in the release. “We look forward to continued collaboration with the Alibaba team on business initiatives as we explore joint opportunities for growth and benefit from Alibaba’s future. I want to thank Jack Ma, Joe Tsai and the Alibaba team, as well as Tim Morse, Michael Callahan and our Yahoo! team for their dedication in achieving this successful outcome.” “This transaction opens a new chapter in our relationship with Yahoo!,” said Jack Ma, Chairman and Chief Executive Officer (CEO) of Alibaba Group stated in the media release. “I look forward to working with Ross Levinsohn and the Yahoo! team as Alibaba builds China’s

leading e-commerce company. Yahoo!’s global audience reach will provide attractive partnership opportunities for Alibaba to explore markets outside of China. The transaction will establish a balanced ownership structure that enables Alibaba to take our business to the next level as a public company in the future.” The announcement comes a week after Scott Thompson departed as CEO of Yahoo! and Levinsohn was named interim CEO of the Sunnyvale, Calif.-based digital media company. Thompson left the company after inaccuracies were revealed in an official bio. “The cash from a transaction will help Yahoo as it grapples with the challenges in its business,” Jim Tang, a technology analyst at Shenyin Wanguo Securities in Shanghai, said before the announcement in a Bloomberg article. “While Alibaba is the clear leader in the Chinese e-commerce market, it’s been difficult for Yahoo to cash out of its investment, since Alibaba is not publicly traded.” “The sale of half of Yahoo’s Alibaba stake would represent the partial achievement of a goal that has eluded Yahoo for years,” Clayton Moran, an analyst at Benchmark Company, said in an emailed statement that was also reported by Bloomberg. “It appeases shareholders, may give employee morale a much-needed boost, and starts CEO Ross Levinsohn’s term with a win.” A Wall Street Journal story included this reaction: “Yahoo Inc. struck a deal late Sunday to sell up to half of its stake in Alibaba Group Holding Ltd. back to the Chinese company for $7.1 billion, finally succeeding after multiple attempts to wind down a seven-year relationship that had recently soured.” Yahoo! stock rose 3.7 percent to $15.42 at the close in New York on May 18. The shares have fallen 4.4 percent this year, Bloomberg reported. -AP

Warba Bank makes two senior strategic appointments

Monday 21 May, 2012 Index Price index Weighted Index KSX 15 Security

Feroz Noorani

the position of Assistant Managing Director of the Credit and Treasury Department at the Securities House Company (SHC). Furthermore, Al-Obeid maintains strong relationships and contacts with several local, regional and international companies. Noorani joins Warba Bank following a career spanning almost three decades in the Gulf Cooperation Council (GCC), Middle East and Indian banking sectors. He has held a number of senior positions in the Islamic, Commercial & Investment Banking and Risk Management. Noorani, before joining Warba Bank, headed the Risk Management & Compliance Group at Al Hilal Bank Group in Abu Dhabi, and was formerly the Head of Group Risk and Capital Strategy at Samba Financial Group in Saudi Arabia. During a distinguished career, he has received several prestigious awards for his work in financial services industry, and has been a prominent speaker at a number of high profile industry events.

DIFC Investments $1 billion loan near, to help Sukuk refinance

DUBAI: Dubai International Financial Center Investments (DIFCI), the investment arm of the company running Dubai’s financial free zone, is close to securing a one billion US dollar loan from four banks to help refinance an upcoming Islamic bond maturity, a banking source familiar with the matter said. Emirates National Bank of Dubai (NBD), Dubai’s largest lender, and Standard Chartered will contribute an equal amount into the deal, while Noor Islamic Bank and Dubai Islamic Bank, also join the deal but with a smaller commitment. The loan will help refinance a $1.25 billion Sukuk maturing in June, and will be in place in time for the redemption date. “It’s in the documentation phase,” the source, who requested anonymity, said. “There will be a syndication in due course but they want to deal with the Sukuk first.” Mohammed Al-Shaibani, chief executive of the Investment Corporation of Dubai and deputy chairman of Dubai’s Supreme Fiscal Committee, said on Mon-

day that the loan was close to completion. “There is a ... facility maturing this year with respect to DIFCI, which is, as we speak, being concluded,” Shaibani told Reuters in Mumbai. The presence of three Dubai-based may raise compliance issues on new central bank rules limiting bank lending to sovereign and state-linked entities. “We are all comfortable with what we are taking on but with the new central bank rules on GREs (government-related entities), we will want to pass on some of our exposures accordingly.” In April, the United Arab Emirates (UAE) central bank introduced new caps for bank loans made to local governments and their entities in the first such change in nearly two decades. The International Monetary Fund said the move would help contain banks’ risks from GREs. DIFC Investments’ Sukuk obligation has been highlighted by analysts as one of the most challenging refinancing in the Gulf Arab region this year, given the size of the maturity and the firm’s limited cash position. -Reuters

Low

Volume

Closing

Last Closing

High

Low

6,415.24 410 38 410.38 974.26

6,421.96 411 15 411.15 977.93

6,439.06 412 20 412.20 978.58

6,386.19 408 19 408.19 966.84

Trades Value (KD)

Trades

0

0

0

0

0

IKARUS

192

192

30

6

1

IPG

0

0

0

0

0

NAPESCO

0

0

0

0

0

124

122

28,531

3,499

5

AREFENRGY

Last

0

192 0

0

Change

ŷ Ÿ ŷ ŷ

124

ź

66

Ÿ

00 0.0

10.0 0.0

0.0

-4.0 1.0

GPI

67

64

253,901

16,490

12

ABAR

232

212

9,242 291,704

1,959 21,954

6 24

226 1007.08

Ÿ Ÿ

4.0 7.37

114

110

993,105

110,788

38

110

ź

-6.0

KFOUC

345

335

16,525

5,618

5

BPCC

610

600

381 050 381,050

228 691 228,691

8

610

ŷ

0

0

0

0

0

ALQURAIN Basic Materials

220

216

983,881 2,374,561

214,017 559,114

37 88

218 976.61

ź ź

-2.0 -26.14

KCEM

425

420

50,023

21,260

9

420

ź

-5.0

Oil & Gas PIPE

ALKOUT

REFRI

172

172

60,000

10,320

5

CABLE

1,340

1,320

11,905

15,765

5

SHIP

0

0

0

0

0

PCEM

870

850

36,792

31,490

18

PAPER

208

190

200

40

2

MRC

0

0

0

0

0

ACICO

250

242

89,100

21,781

13

GGMC

0

0

0

0

0

HCC

0

0

0

0

0

KPAK

0

0

0

0

0

KBMMC

0

0

0

0

0

NICBM

285

285

798

227

1

EQUIPMENT

178

174

43,500

7,577

4

NCCI

0

0

0

0

0

GYPSUM

0

0

0

0

0

SALBOOKH

36

36

215,000

7,725

4

AGLTY

420

405

3,070,986

1,260,638

72

EDU CLEANING CITYGROUP

0

0

0

0

0

154 0

152 0

317,512 0

48,322 0

21 0

335 0

172

1,320

ź ŷ

ź ź

0

ŷ

208

Ÿ

870 0

248 0

0

0

0

Ÿ ŷ Ÿ ŷ ŷ ŷ ŷ

285

ź

0

ŷ

178 0

36

415 0

152 0

ŷ ŷ ŷ Ÿ ŷ Ÿ ŷ

6,500

9,230

5

23,626

27

UPAC

0

0

0

0

0

ALAFCO

295

290

590,133

172,839

15

MUBARRAD

66

64

263,931

17,210

31

LOGISTICS

285

280

617,116

172,858

39

SCEM

0

0

0

0

0

GCEM

102

99

3,630,309

364,883

37

1,420 97 0

295 66

280 0

100 0

ź Ÿ ŷ ŷ Ÿ ź ŷ ŷ ŷ

IRC ALTIJARIA

56 85

55 83

1,329,250 273,182

73,349 22,895

26 10

SANAM

60

59

75,910

4,549

8

60

Ÿ

1.0

AAYANRE

95

90

3,735,192

343,807

109

90

ź

-1.0

AQAR

99

94

5,001

470

2

ALAQARIA

38

33

116,646

4,015

6

0.0

MAZAYA

87

82

2,114,326

180,079

69

ADNC

0

0

0

0

0

10.0

THEMAR

0

0

0

0

0

-2.0

-20.0 10.0 0.0

6.0

0.0

0.0

0.0

0.0

-10.0 0.0

0.0

0.0

0.0

10.0 0.0

47,368

17 35

TII

0

0

0

0

0

SECH

0

0

0

0

0

IIC

0

0

0

0

0

SGC

190

190

2,284

434

4

IFC

108

102

27,194,002

2,835,591

231

MARKAZ

118

116

216,153

25,474

5

KMEFIC

0

0

0

0

0

0.0

AIG

0

0

0

0

0

0

0

0

0

0

-2.0

ALOLA

146

144

100,499

14,473

3

ALMAL GIH

0 36

0 35

0 2,590,492

0 91,989

0 56

-40.0 1.0

0.0

0.0

1.0

-5.0 0.0

0.0

72

228

16

1

0

0

0

0

-1.0

KAMCO

0

0

0

0

0

NIH

66

62

2,004

124

5

ISKAN MADAR

0 0

0 0

0 0

0 0

0 0

0.0

0

Ÿ Ÿ

15 12.34

KCIN

1,000

1,000

500

500

1

1,000

Ÿ

10

KHOT

212

206

1,050 10 0

217 21

2

SULTAN

FUTUREKID

0

0

0

0

0

ALNAWADI

0

ŷ

425

Ÿ

0

ŷ

0

ŷ

108

Ÿ

0

0

0

ŷ

0

0

0

ŷ

KCIC

72

70

1,664,034

117,957

37

MANAFAE

0

0

0

0

0

GNAHC

48

47

224,150

10,637

13

AMWAL

0

0

0

0

0

MASAR

0

0

0

0

0

ALIMTIAZ

0

0

0

0

0

1,243

2

KOUTFOOD 560 Consumer Services

560

128,625 4,055,660

72,030 508,344

5 122

560 989.41

Ÿ Ÿ

50 1.35

ZAIN

710

700

1,336,846

939,460

88

710

Ÿ

10

2,280

2,240

230,332

524,479

26

85

2,874,502 4,441,680

247,956 1,711,894

73 187

86 954.05

ź ź

-1 -1.98

1,040

ź

-20

-25

-20

NBK

1,060

1,040

828,155

874,466

39

GBK CBK

415 780

410 770

647,550 58

265,746 45

16 2

ABK

590

590

3,094,000

1,825,460

ALMUTAHED KIB

0 270

0 270

0 242,000

0 65,340

BURG

415

405

852,907

350,339

28

415

KFIN

710

680

2,765,365

1,923,051

160

700

BOUBYAN

610

600

211,261

126,758

31

0

0

0

0

0

170 48

170 44

400,000 400 000 43,125,660

68,000 68 000 1,964,512

6 671

52,166,956

7,463,717

967

972.12

ź

-3.22

0

ŷ

0

0

ŷ

Banks

0 0

0

4,361

AUB ITHMR

0 0

0

285

495

495

3,625

1,794

1

AINS

0

0

0

0

0

WINS

136

136

500

68

1

KUWAITRE

0

0

0

0

0

FTI

0

0

0

0

0

495

Ÿ

136

ź

0

ŷ

0

ŷ

0

66

ŷ Ÿ

5.0

BIIHC

71

66

169,630

11,406

15

SHOP SENERGY

0 80

0 80

0 934,000

0 74,720

0 11

AGHC

152

148

1,301,000

195,762

69

152

Ÿ

2.0

ALSAFWA

24

22

66,103,237

1,514,658

318

23

ź

-1.0

271,962

33

10,050 4,001

1,005 406

3 3

EKHOLDING

280

280

5,000 5 000

1,400 1 400

1

280

ź

GFH

52

50

28,380,152

1,430,562

331

50

Ÿ

INOVEST Financial Services

61

57

1,988,701 163,929,019

115,969 9,673,018

47 1,775

58 991.52

ź ź

-2.0 -6.64

0

0 0

0 0

0 0

0 0.00

ŷ ŷ

0.0 0.00

395

Ÿ

25.0

11

0

0

FUTURE

260

260

270

70

1

HAYATCOMM Technology

118

110

536,130 536 130 713,500

61 61,181 181 131,206

44 56

118 1114.32

Ÿ Ÿ

BAREEQ

0

0

0

0

0

0

ŷ

0.0

AFAQ

0

0

0

0

0

0

ŷ

0.0

87,406

3,132

9

SPEC

0

0

0

0

0

0.0

MASAKEN

43

43

5,000

215

1

DALQAN

0

0

0

0

0

00 0.0

ALEID

0

0

0

0

0

MIDAN FLEX

0 33

0 33

0 10

0 0

0 1

0

0

0 19,225

0 2,799

0 5

0 1071.89

ŷ Ÿ

0.0 13.17

AINV

0

0

0

0

0

0

ŷ

0

SOKOUK KRE

0 55

0 54

0 2,812,001

0 151,848

0 21

ŷ ŷ

69,955

0

34

BKIKWT Insurance

0 55

177,100

37

5.0

0.0 0.0

0.5

0

AJWAN

3

-5.0 50

395

-2.0

0

-10.0 0.0

0

2

0

ź ŷ

395

0

937

100 108

SAFTEC

0

0

1.0

3,657,584

132

15,100

Ÿ

0.0 2.0 -2.0

74

0

0

75

ŷ ź

0.0

-4.0

100 99

6,001

62

0 80

ź

2.0

75

0

0

66

ŷ

100 108

22

66

89

Ÿ

TAHSSILAT JEERANH

0

WETHAQ

228

KPPC

22

ARIG

1 1.0 0

10

SAFRE

0.0

Ÿ

0.0

0.0

17,286

ALSHAMEL

0.0

ŷ

0.0

194,795

ASC

GINS

36

ŷ

87

0

0

0

ŷ

89

10

0

0

0.0

-0.5

UIC

Ÿ

0

0

ź

-1.0 1.0

72

ŷ

0

48

ź

199

MAREF 0 Investment Instruments

0

ŷ

968,346

0 0

KINS

0

71

0.0

0.0

652 218 652,218

30

0 -3

ŷ

4,267,453

Ÿ

ŷ ź

0

0.0

18,386,776 18 386 776

ŷ ŷ

170 44

ŷ

-13.0

35

0 270

0

0

ź

224

590

ŷ

ŷ

0.0

-2.0 20

36

0 12

0

0

242

0.0

228

2

0

ź

1.0 0.0

NIND

ŷ ź

ŷ

184

15.0

MANAZEL

415 780

610

0 -30

Ÿ ŷ

0

0

285

Ÿ

0

0

0

93 0

ALMADINA

0

0

270

NOOR

STRATEGIA

0

UGB

29 0

0

0

ź

162

31,341 0

0

0

2,260

1,099,002

341,186 0

0

0

NMTC

4,141,301

91 0

0

ZIMAH

HITSTELEC 88 Telecommunications

255

93 0

0

0

0.0 0.0

275

KSHC

4

-5.0

EKTTITAB QURAINHLD

0

0

0.0

0.0

ALSALAM

3

4

1.0

0.5

0

0

0.0

0.0

0.0

4,840

3 3,048 048

0.0

Ÿ

0

0

0.0 0.5

ŷ

20,000

31 31,250 250

ź

0.0

0.0

0

0

0

ŷ ŷ

0.0

0.0

38

242

0

0 0

62

2.0

0

0

5

ŷ

0.0

12

242

0

0

-10.0

0

EXCH

0

Ÿ

0.0

0.0

25,308

TAIBA

-10

ŷ

0.0

0

0

0

0

72

0.0

-3.0

669,012

2

0

ŷ

0.0

-2.0

0

1,196 1 196

-2

0

5.0

38

6,500 6 00

0

ź

-2.0

0

184

97

285

0.0

0.0

39

184

0

UFIG

0.0

0.0

ALDEERA

TAMINV

108

ŷ

2.5

ALSAFAT

-2 2

ALRAI

0

ŷ Ÿ

0

400 995.88

0

0 36

ŷ

72

0

1

ŷ

0

OSOUL

17 17

0

146

KFIC

0

94

ŷ

0.0

-4.0

60,205 60,205

0

0

0

0

220

ŷ

0

155,004 155,004

0

0

Ÿ

0

0

425

118

ź

0

380

0

ŷ

190

0

0

425

104

GLOBAL

0

JAZEERA

ŷ

0.0

ŷ

SOOR

0

ŷ

0

ŷ

ŷ

ŷ

0

0

ŷ

0

0

0

0

ź

40

0

0

0

ŷ

0

0

0

53

18

0

0

325

ź

0

-20.0 -15.96

0

140

ŷ

8,105

400

MUNTAZAHAT

0

Ÿ

0

ź ź

ź

ALAMAN

270

203,953

1,320 978.69

ŷ

ź

0

3 38

280

59

38

0

275

ŷ

0

0

14

ŷ

0

40

36,300 86,648

12

37

ŷ

BAYANINV

0

21,950

0

AAYAN

27,500 543,813

29,411

IFA

23,945

0

80,165

0

146,285

1,320

102,446

2

0

443,002

0

270

7,400

0

53

1,320

275

200,000

0

320

30

275

37

0

55

39,294

290

37

ALMUDON

325

433,901

OULAFUEL

MENA

KPROJ

90

MASHAER

0

COAST

0.5

93

ŷ

0

1.5

DANAH

0

0

Ÿ

21

0

0

0

ŷ

72,560

4

0

0

0

43

520,001

0

0

REAM

138

8,664

0

0

140

0

0

73

0

NINV

72,534

IFAHR

73,277

0

0.0

0

ŷ

1,746,879

0

-1.0

-1.0

0

118

0

40

0

ź

0

0

0

43

KBT

ź

47

0

120

0

FIRSTDUBAI

36

0

CATTL

0

28

0

-3.0

PAPCO

0

107

40,011

0.0

0

0

479,801

1,096,150

ŷ

0

EYAS

10,268,400

102

0

ź

46 36

2.0

-10.0

3

0

ŷ

47 38

ź

6

0

0

ABYAAR MUNSHAAT

148

4,426

NSH

104

1

2,534

-13.0

0

7

16,662

ź

81

50

24,892

242

0

148

0.0

265

1

379,853

148

Ÿ

100

2,390

0

ARGAN

92

270

9,878

3,707,043

4

102

242

0

903

FACIL

242

100

10,610

KINV

0.0

KSH

0

85

0.5

0.0 -0.57

0.0 1.98

106

93

ŷ

0.0

ŷ ź

ŷ Ÿ

CABLETV

ARKAN

53

Ÿ

345 999.02

0 982.09

ź

11

ŷ

0.0

0.0

22 1,024

0 1,026

212

16,995

0

42

ŷ

23

0 4,641,128

ŷ

339,991

ŷ

0

63,151 7,614,277

0 110,263,446

0

49

0

2.5

4.0

18,588

0

YIACO Health Care

53

Ÿ

185,801 89,143,774

0

ATC

TAAMEER

87

0.0

314,959

RKWC Industrials

ŷ

3

Ÿ

58

0

0

0

2,940

ŷ

335

7

FOOD Consumer Goods

0

70,000

38

0.0 -1.0

60

0

ź

0

42

99

ŷ ź

0.0

-0.5

345

19,545

90

0

42

56 84

ź

-10.0

REMAL Real Estate

0

ź

0

TIJARA

22

ź

MARAKEZ

205,000

ŷ

GRAND

990

2.0 0.0

0

0

0.0 -0.5

311

95

120

-2.0

776,664

0

ŷ

ź

35,115,224

97

0

ŷ ź

21

FCEM

ź

110 38

160

23

QCEM

96

25 9

INVESTORS

0.0

0

244,200

4

1,523,078 12,718

ŷ

0

96

21,840

13,844,677 332,025

64

0

1,420

135,000

106 38

13

0

98

160

114 39

0.0

-2.0

24

0

1,420

164

MASSALEH ARABREC

ź

26 480 26,480

7

MTCC

AREEC

230

691,180

88

CGC

58

420 001 420,001

898

Ÿ

2,869,181

697,032

92

Ÿ

12,427,952

4.0

62

102

31

230

Ÿ

990

5.0

24

232

ŷ

64

0

11

TAM

39

248

1,000

0

668

2

INJAZZAT

0.0

0

9,245

10

26

MABANEE

-25.0

0

2,372,016

48,340

702

0.0

0

320,000

195,000

37

00 0.0

-2.0

-1.0

0.0

100,012,540

246

39

ź

ź

Ÿ

28

248

PEARL

ŷ

ŷ

ŷ

23

SRE

108

132

0

385

31

22

92

116

25

7

129,939

0

1

MAYADEEN

15 181 15,181

970,780

14

24

GFC

140 901 140,901

132

0

0

ŷ

106

15,565

54,444

0

108 136

Change

0

1

SAFWAN

URC NRE

Last

170,132

477,002

ź

Trades

0

114

93

Trades Value (KD)

91

385

NAFAIS

Volume

0

116

ŷ

Low

92

385

0

High

428,196,809 32 477 788 32,477,788 5,343

ERESCO

KGL HUMANSOFT

Security

Volume Value (KWD) Number of Trades

UREC

KCPC

MHC

KUWAIT: Warba Bank announced in a press release this week the appointment of Basel Jassem Al-Obeid as Chief Corporate Banking Officer, and Feroz Noorani as Chief Risk Officer, following the approval of the Central Bank of Kuwait. These strategic appointments at Warba Bank are with intent to bring experienced professionals and each of them will play key role in developing the Bank’s business in line with the Bank’s targets and strategic direction, aiming to provide the best banking services as per the international standards and in compliance with Islamic Sharia principles. Al-Obeid brings to Warba Bank over 25 years of experience, in which he previously held numerous positions that provided him with extensive experience in the Banking sector as a whole, and in particular focus on the Credit sector. Prior to joining Warba Bank, Al-Obeid was Head of International Banking Credit at the Ahli United Bank (AUB). He also held

High

-6.72 -0 77 -0.77 -3.67

MARIN

POULT

Basel Jassem Al-Obeid

Change ź ź ź

0

260

0

22

37 0

ŷ ŷ

ŷ Ÿ ŷ ŷ

43

ź

0

ŷ

0

0 33

ŷ ŷ ź

0.0 0.0

6 6.0 0 34.85

0.0

2.5

0.0

0.0

-2.5 0.0

00 0.0

0.0 -2.5

THURAYA

0

0

0

0

0

0

ŷ

0.0

KCLINIC

65

65

50

3

1

65

ź

-5.0

AMAR Parallel Market

0

0

0 98,467

0 3,483

0 14

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

0 971.45

ŷ ź

0.0 -4.49


STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY tuesday, may 22, 2012

April 2009 May21, 21, 2012

2% 6%

2% 6%

0%

102

95

Bahrain

-4%

Kuwait

-2%

-6%

-1%

98

90

Bahrain

-2% -1%

GCC Best Performers

Saudi

95 21-Feb-12 85

21-Mar-12

21-Apr-12

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

MENA Best Performers

-2%

21-May-12

-6%-2

19-Apr-0

1

MENA Indices Highlights Country (Index)

Index Level

% Chg.

YTD

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

Index 7,029

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

2,468 5,250

Qa UAUAE Qatar (DSM Index) (ADSM Index)

8,423 2,695

0.2% 0.6%

Ba Qa Bahrain Qatar(BSE (DSMIndex) Index)

1,146 5,590

-0.2% 3.9%

Jo Jordan (Amman General Index)

1,879

-1.5%

Ku Kuwait (KSE Weighted Index)

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

OmOman UAE(MSM (DFMIndex) Index)

Level 410

1,488 406

5,623 1,745

Eg Egypt (EGX 30 Index)

OmOman (MSM Index)

Ba Bahrain (BSE Index)

M Morocco (Casa All Shares Index)

Eg Egypt (Hermes Egypt Index (HFI))*

Le Lebanon (Beirut SE Index)

Jo Jordan (Amman General Index)

Pa Palestine (Al-Quds Index)

M Morocco (Casa All Shares Index)*

Tu Tunisia (Tunis SE Index)

Le Lebanon (Beirut SE Index)* *Market Closed

Pa Palestine (Al-Quds Index)

4,878

5,478

1,681

9,776

463

1,175

2,825 455

10,621

5,108

1,094 546

Tu Tunisia (Tunis SE Index)* * Market Closed

3,282

52 Wk High

% 0.7% Chg.

9.5% YTD

-0.2%

0.2% -4.0%

1.2%

-4.0% 12.8%

8,892 5,148

8,071 2,137

96 122

0.2% -18.8%

1,366 12,627

1,129 4,230

0.0%

-

2.2%

-0.3%

-0.2%

-

-

0.9% -

34.7%

0.7%

-5.7%

-6.8%

-12.1%

8.5%

-0.2%

2.4%

-4.5%

1,754 787

6,082 5,860 5,628

12,109 2,192

2,903

12,203

1,033

1,380

5,044 513

-3.3%

14,635

23.6%

739

7.3%

-7.2%

5,141

2,119

13.6%

3,418

Mkt. Cap. 366,943 USD million

116

66 2,183

-1.3% 6.6%

0.4%

396

1,301 316

65,239 264,263

5 305

3,587

57

4,224

1,572 328

-

1,164

2,551 455

9,406

-

4,091

1,043

-

2,837

-

407

4

18,727

14.29

67

33,782

12.71

9,881

16.40

63,640

1

1.29

2.81

1.56

6.25

2,466

0.84

2.15

9.06

59,990

1.08

18.36

8,507

2

1.50

7.67

10,419

5

1.68

8.07

52,198

0

1.35

12.21

4

3.95

1.81

6.47

2,079

0.86

8.67

6,576

MENA Worst Performers

Close

ITH Ithmaar Bank

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

CBKCommercial Bank of Kuwait

225 Saudi Industrial Inv. Grp.

101 Riyad Bank

SAR 24.70

-6.4%

103,055,329

Turnover (USD)

102,503,995

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

343,553,085 99,531,725

201 201Saudi SaudiBasic BasicIndustries IndustriesCorp. Corp.(KSA) (KSA)

119,955,261 45,940,597

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

97,126,838

NBKNational Bank of Kuwait (KUW)

1,376,145,808

Market Cap. (SAR '000)

-6.8%

187,657,377

115 Alinma Bank (KSA)

6,803,336

Turnover (SAR '000)

-3.4% -8.9%

Turnover (USD)

MENA Highest Turnover

88,742,222 64,280,166 Close

% Chg.

9.10

1140.SSE Bank AlBilad

2.3%

26.70

7,931 / 5,916 4220.SSE Emaar the Economic City

Tadawul Index 52 week High / Low

110

-8.6%

-3.1% -8.6%

703 Zain - Saudi Arabia (KSA)

5.00

Advance/Decline Ratio

8.0%

KWD 0.124 SAR 48.00

SAR 13.70

GCC Highest Turnover

60% 7030.SSE Zain - Saudi Arabia

% of stocks trading above 1yr avg. price

4.9%

8.0%

% Chg.

KWD 0.285 SAR 22.95

7,029 (0.7%)

Tadawul Index (% Chg.)

115

5.1% 8.6%

AED 1.18 -13.1% 3.5% KWD 0.265

EMAEmaar Properties (UAE) Best Performers

Summary

5.4% 8.8%

KWD -3.7% Close0.780 % Chg.

KFI Kuwait Finance House (KUW)

Rebased Performance

5.5% 9.8%

USD 0.160

0.88 201 ARE AREFBasic Energy HoldingCorp. Co. 1.74 Saudi Industries

9.50

25,899

OMR 0.720

GCC Worst Performers

1.92 FAC ### Commercial Tamweel Facilities Co. 1.37 1.58 NICNational Industries Co. 0.88 238 Rabigh Petrochem.

9.78

15,024

9

9,747

0.70 1.52

9.04 8.85

46

1.85

1.01 1.77

10.02 6.87

56,040

QAR 21.60

BKMBankMuscat

PB

10.30 9.99

17,205 65,352

17,648 37,413

AED 1.07

QGTQatar Gas Transport Co.

PB1.45

11.46 7.29

AED 1.03 QAR 6.35

ALDALDAR Properties

PE 16.79 8.17 10.24

31,358 98,547

0 196

1,913

Trailing

126,705 69,783

KWD 0.590 OMR 0.703

SO Sorouh Real Estate Co. KCB Al Khaliji Commercial Bank

11.85

101,003

42 718

5,419 1,433

PE

KWD 0.192 SAR 5.60

ABK Al AhliEngineering Bank of Kuwait GEC Galfar & Contracting

Trailing

Mkt. Cap. USD million

Turnover 1,814 USD million

2,293 4,130

0.1% 1.9%

0.3%

52 Wk 5,916 Low

2,775 10,090

10.0% -0.2%

5.1%

452

Turnover USD million

2.7% 9.3%

1.5% 1.8%

1.8%

52 Wk 7,931 High

52 Wk Low

% Chg.

AED 1.88% Chg. 9.9% Close

IKAKingdom Ikarus Petroleum 3 428 Hldg. Co.Industries Co.

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

Close

4 NBQNational Bank of Umm Al Qaiwain

Period's Liquidity 1 Ratio (PLR x)

-1

Abu Dhabi

Return DailyDaily Return (%)(%)

0%

100

100

Abu Dhabi

Kuwait

Abu Dhabi Oman

Qatar

0%

Tunisia Abu Dhabi

Dubai

105

0%

Saudi

Palestine Palestine

105

2%

Dubai Dubai

1%

1%

Qatar

Qatar Saudi Saudi

110

4%

Oman Qatar

111

Oman

Oman Morocco

110

Dubai

Kuwait Kuwait

113

Jordan

113

DailyIndex Index Performance Snapshot Daily Performance Snapshot

Egypt Jordan

115115

Bull/Bear Indicator Bull/Bear Indicator

Bahrain Bahrain

Rebased RebasedPerformance Performance

1.9%

10.85

2050.SSE Savola Group Co.

1.9%

35.50

3020.SSE Yamama Saudi Cement Co.

1.7%

48.50

1.7%

105

Highest Turnover

102 100

100

Worst Performers Turnover (SAR) 703,771,460 2280.SSE Almarai Co. 386,488,402 2020.SSE Saudi Arabian Fertilizer Co. 384,420,734 7010.SSE Saudi Telecom Co.

70Zain - Saudi Arabia 1 Alinma Bank

43Dar Al Arkan Real Estate Dev. Co.

95 21-Feb-12

21-Mar-12

21-Apr-12

S&P GCC Large/Mid Composite

373,273,828

20Saudi Basic Industries Corp.

21-May-12

172,291,022

42Emaar the Economic City

Close

% Chg.

67.25

177.50 40.10

1010.SSE Riyad Bank

23.60

1090.SSE Samba Financial Grp.

47.20

-0.4%

-0.3%

-0.3%

-0.2%

-0.2%

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

Close 72.25

1 Alinma Bank

13.05

1 Arab National Bank

29.00

2 Almarai Co.

1 Bank AlBilad

1 Bank Al Jazira

1 Banque Saudi Fransi

Daily % Chg. 0.4%

72.75

Low 72.00

Turnover (SAR '000) 73,475

1.2%

13.05

12.90

386,488

0.7%

29.00

28.70

1,447

67.25

-0.4%

26.70

1.9%

36.00

1.4%

24.60

High

0.4%

40.00

30.00

-10.0%

6.9%

13.60

6.20

-20.2%

19,302

151.50

1,810

32.80

36,209

10.85

19.30

152.50

172,291

19.00

63,207

2 Rabigh Refining & Petrochemical Co.

21.15

0.5%

21.20

21.00

11,394

1 Samba Financial Grp.

47.20

-0.2%

47.40

46.90

30.10

1 Riyad Bank

2 Saudi Arabian Fertilizer Co.

1 Saudi Arabian Mining Co.

2 Saudi Basic Industries Corp.

23.60

-0.2%

33.20

23.70

11.00

4,482

0.5%

0.6%

11.10

10.60

11.05

32.90

23.45

94.00

373,274

13.05

21,646

22.55

28,203

16.90

775

9,092

89.50

87.00

1 Saudi Hollandi Bank

27.10

1.5%

27.10

26.70

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

20.05

1.0%

20.05

19.85

16,377

16.25

57,428

34.80

12,628

34.40

4,458

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

2 Yanbu National Petrochemicals Co.

7 Zain - Saudi Arabia

17.00

16.30

1.2% 0.0%

23.15 17.10 16.40

40.10

-0.3%

40.30

98.75

0.0%

99.50

35.50

34.90

48.50

47.10 9.10

1.7%

1.5%

1.7%

0.6%

2.3%

35.50

35.00

48.50

47.10 9.35

401

40.00

18,774

97.25

305

47.60

10,847

8.95

703,771

46.70

1,097

13.10

50.75

22,874

413

26.90

-15.6%

24.9%

27.7%

40,949,999

32.60

-35.2%

23.10

-13.0%

42,480,000

-19.2%

19.8%

10.6%

-9.4%

23.3%

-7.5%

9.1%

1,652

16.30

12.85

-19.3%

1,237

25.30

18.55

46

21.00

15.55

820

3,522 467 358

24.45

21.30

42.60 35.50

23.70

225

83.25

47.40

77,105

11.50

5.25

128

488

37.00

56.25

27.82

41.60

2.5

16.9

9.4

nmf nmf

7.7

nmf

2.0 1.5

1.6

2.3

10.7

-0.8%

44,375,000

10.9

4.9

-2.1%

-12.5%

282,750,000

9.8

1.9

-5.4%

-5.1%

54,790,709

43.7%

7.7%

28,027,500

9.8

45.5

1.2

1.5

1.6

13,578,750

14.4

4.7

10,755,990

9.9

1.5

22.7

1.1

10,417,500

21.0

1.7

-19.0%

5.3%

-10.5%

9,350,000

13.1

1.1

-23.5%

70.00

1.2

8.7

-4.9%

15.50

106.75

0.8

35,400,000

0.9%

-7.5%

10.7

1.5

21.8%

-18.0%

3

1.3%

27.2

-8.5%

17.75

33.00

18,339,397

1.3%

-12.3%

-14.1%

21.42

-19.2%

9,120,000

18,527,400

87.75 57.25

-19.2%

36.9%

-25.0%

109.75

24.25

9.2%

-9.0%

3,958

29.30

46,200,000

7.05

-11.3%

15

nmf

17,937,420

165.00

98.00

9,222,500

11,826,000

29.8%

200.00

103

49.7%

58.8%

102

37.50

1.6

-15.7%

853

94.75

0.7%

406

10.9

7,380,000

11.10

-7.9%

3.7

1.5

32,544,644

25.1%

25,881

0.5%

23.15

108.67

22.90

1.2

-7.4%

25.7%

-16.8%

0.6%

Saudi International Petrochemical Co.

165.00

12

11.0

3.3

2.0

-4.7%

42.40

88.75

22 Saudi Industrial Investment Grp.

50.00

24,650,000

38.3

19.5

20.3%

47.6%

19,575,000

8,010,000

51.0%

56.75

94.25

13.15

69.25

38.7%

-20.9%

236

9,729

18,204

0.4%

294

3,299

6.05

11,135

177.25

13.15

13.85

16,090

-25.0%

3 Saudi Cement Co.

5 Saudi Electricity Co.

35,563

-22.9%

21.00

178.25 30.60

15.75

28.20

-0.3%

0.0%

31.90

540

177.50 30.30

25.2%

104

65.50

2 National Industrialization Co.

45.1%

3,694

66.00

4 Kingdom Holding Co.

-11.0%

35.30

465

23.5

5.5%

36.20

24.35

26,900,000

-13.9%

34.5%

24.70

24.4%

26.60

-18.8%

0.4%

1.1%

33.70

PB

14.1

27.9%

17.5%

Trailing PE

108,375,000

39.6%

-6.3%

Market Cap. (SAR '000)

-4.3%

-19.7%

17.20

66.00

0.0%

50

399

12 mths

9.05

32.90

7 Etihad Etisalat Co.

19.30

48.41

16.25

4.0%

662

11,422 384,421

152.00

71.75

29,788

-12.7%

17,586

10.70

4 Jarir Marketing Co.

67.25

YTD

26.20

10.95

4 Jabal Omar Development Co.

82.75

on high

26.90

1.4% 1.9%

1,016

% Change

Low

26,807

10.95 10.85

High

67.00

67.75

4 Dar Al Arkan Real Estate Dev. Co. 4 Emaar the Economic City

52-Week

Volume ('000)

-5.9%

0.0%

-7.5%

1.8%

-6.3%

18.6%

23.7%

-5.6%

-10.7%

10.8%

29.1%

14.8%

41.1%

-41.7%

-30.7%

-20.5%

-20.9%

64.0%

26.4%

-5.7%

-16.3%

14.0% 7.0%

7,351,667

24,450,000

80,200,000

17,750,000

13,825,000

4.1%

34,900,000

-3.7%

26,493,750

10.0 nmf

1.4

1.6

9.3

1.6

14.5

5.7

14.0

11.7

9,821,250

11.7

12,740,000

nmf

8.3

2.1 2.0

2.8

2.4

3.3


STOCKS WITH NBK CAPITAL

13

ALWATAN DAILY tuesday, may 22, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,415 (-0.1%)

KSE General Index (% Chg.)

115

410 (-0.2%)

Advance/Decline Ratio

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

53%

% of stocks trading above 1yr avg. price

110

KSE General Index 52 week High / Low

100

21-Mar-12

21-Apr-12

5.5%

0.590

5.4%

0.270

1.9%

0.415

2.5%

0.226

1.8%

28,210,181

Worst Performers Turnover (KWD) 2,869,181

Tamdeen Real Estate Co. TA

21-May-12

S&P GCC Large/Mid Composite

Al Ahli Bank of Kuwait

Highest Turnover

102

95 21-Feb-12

ABK.KSE

% Chg.

0.192

32,429

Market Cap. (KWD '000)

100

IKARUS.KSIkarus Petroleum Industries Co.

452 / 396 ABAR.KSE Burgan Co. for Well Drilling

KSE Weighted Index 52 week High / Low

Turnover (KWD '000) 105

Close

KSE Weighted Index (% Chg.)

IFInternational Finance Co.

2,835,591

A Al Ahli Bank of Kuwait

1,825,460

K Kuwait Finance House

1,923,051

A Agility

1,260,638

Close CBK.KSE

Commercial Bank of Kuwait

% Chg.

0.780

-3.7%

OULAFUELOula Fuel Marketing Co.

0.280

-3.5%

AREFENRGAREF Energy Holding Co.

0.124

-3.1%

NICBM.KSENational Industries Co. CGC.KSE

0.285

Combined Grp Contracting Co.

-3.4%

1.420

-2.7%

KSE Weighted Index

Quotes Company Name

Close

Daily % Chg.

High

A Agility

0.415

2.5%

T Al Themar Intl. Holding Co.

0.086

-

A AREF Energy Holding Co.

0.124

-3.1%

0.610

0.0%

A Al Ahli Bank of Kuwait

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

B Boubyan Petrochemical Co. B Burgan Bank

0.590

0.295 0.610 0.415

A Burgan Co. for Well Drilling

0.226

C Commercial Bank of Kuwait

0.780

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

5.4%

1.420 0.270 0.415

0.420

0.405

1,261

-

-

-

0.590

0.590

1,825

0.0%

0.0%

0.415

0.405

350

853

0.514

0.410

1.420

9

0.265

4

17

0.365

266

648

0.533

0.415

-22.1%

-

0.495

0.285

-20.2%

1.9% -

0.0%

0.610 0.232

1.420

0.780

0.270 -

229

0.212

2

0.770

0

-

M Mena Holding

-1.2%

1.320

-1.5%

0.870

1.2%

0.410

-

-

-

0.102

2,836

-

-

N National Industries Co.

S The Securities House N Wataniya

0.255

0.116

0.019

1.600

0

50

0.600

0.415

641,161

136.7%

146.8%

-7.0%

-16.5%

-17.5%

-35.8% -25.7%

-30.0%

-1.1%

3.8%

-14.6%

-16.8%

12.9% 2.0%

-6.6%

-4.1%

-8.7%

93,000

7.0%

0.0%

-26.0%

-12.4%

0.226

-17.8%

8.9%

-15.2%

0.182

0.315

-8.2%

-1.3%

-18.6%

0.485

-

1,066,424

6.9%

-15.2%

-10.3%

0.096

1.7%

-46.2%

0.142

0.162

3.4%

17.0%

6.6%

0.214

27,194 0

1.240

230,033

-19.5%

1.5

nmf

4.3

nmf

1.4

295,911

33.8

1.2

47,375

32.3

0.9

992,177

nmf

150,937

-25.0%

1.0

5.8

11.4

1.4

15.2

3.8

1.9

144,926

10.2

0.9

-22.1%

1,092,731

38.7

2.5

-2.5%

179,283

nmf

152,242

277,109

nmf

8.3

9.1

45.0 3.7

35.2%

144,000

17.1

1.0

133.5%

102,850

9.6

3.8

-53.2%

83,500

-13.3%

nmf

61,613

-30.0%

267,815

0.7

nmf

0.8

18.8

1.8

26.1

1.6

0.0%

0.270

0.270

65

242

0.340

0.236

-20.6%

5.9%

-20.6%

280,078

23.6

1.4

0.0%

0.325

0.320

47

146

0.381

0.281

-14.7%

12.1%

-14.7%

434,387 280,500

30.2

1.7

98,273

23.2

1.3

122,670

nmf

0.7

1.320

0.870

36

0.850

31

0.990

691

0.224

968

0.136

0.132

130

0.216

214

-

-3.4%

-1.4%

-3.5%

1.6%

0.104

-1.9%

0.084

-1.2%

-0.9% -

-0.9%

1.4%

1.000

1.320

0.228

0.710

1.182

-15.7%

1.8

2,032,915

0.9%

0.170

0.700

-6.3%

0.5

19.6

-25.8%

874

0.230

0.920

nmf

892,811

-16.0%

1.040

0.248

-45.5%

87,075

-10.2%

-27.3%

1.060

0.280

0.198

1.745

12

21

-1.9%

2.260

Z Zain Kuwait

0

0.415

-15.7%

-6.2%

0.690

-0.9%

A The Commercial Real Estate Co.

0

1.040

0.140

-

16

-1.0%

0.285

7

0

-3.2%

-19.3%

16.4

0.963

0.218

T Tamdeen Real Estate Co.

0.420

9

0.530

434,437

2,765

-1.5%

S Sultan Center Food Products Co.

0.425

0.630

-6.1%

PB

9.2%

1,923

0.132

S Salhia Real Estate Co.

-

381

0.085

PE

0.680

N National Real Estate Co.

A Qurain Petrochemicals Industries Co.

0.108

0.132

Trailing

Market Cap. (KWD '000)

0.710

0.228

O Oula Fuel Marketing Co.

1.320

29

12 mths

1.5%

N National Industries Grp. Holding N National Investments Company

1.340

0.990 0.425

N National Bank of Kuwait

-

0.420

0.325

M Mabanee Co.

0.0%

-

0.415

0.425

-

3

0.600

0.425

K Kuwait Projects Co. (Holding)

-5.5%

0.530

1.2%

P Kuwait Portland Cement Co.

-17.3%

-9.2%

0.610

0.425

0.270

0.079

0.560

211

JAJazeera Airways

K Kuwait International Bank

0.104

0.650

127

0.122

0.192

F Kuwait Food Co.

-

3,094

0.600

0.192

0.700

10.7%

0.610

5.5%

K Kuwait Finance House

-3.5%

0.0%

0.192

K Kuwait Cement Co.

0.248

-16.9%

-2.7%

0.234

0.430

0.280

0.124

YTD

3,071

0.355

IK Ikarus Petroleum Industries Co.

K KIPCO Asset Management Co.

on high

590

-3.7%

0.104

% Change

Low

173

-1.5%

IF International Finance Co.

High

0.290

1.320

0.395

52-Week

Volume ('000)

0.295

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

Turnover (KWD '000)

0.0%

1.8%

0.116

G Gulf Bank

Low

-

-

0.285

0.285

0.140

0.138

0.290

0.275

0.220

0.248

0.232 0.085 2.280 0.710

-2.9%

26.6%

-12.3%

1.8%

-16.2%

-18.6%

-46.2%

-12.3%

971

0.168

0.056

-21.4%

3.1%

0.186

-3.5%

0.360

984

-

-

0.226

0.248

0.200

0.270

0.216

3,707

0.136

273 -

524

0.242

1,337

-46.2%

2.2%

-17.6%

0.0%

19.2%

0.8

nmf

0.6

-8.0%

85,818

22.4

0.9

115,600

nmf

23.5%

2.480

1.880

-8.9%

16.5%

11.9%

-21.1%

nmf

1.0

9.1%

-34.3%

2.0

17.7

-13.4%

0.690

14.9

127,155

9.0%

0.067

1.080

4.0

13.8%

0.097

30.8%

0.7

2.3

-11.9%

0.0%

1.2

14.3

23.9

-13.3%

0.170

-

1.9

96,932

-23.5%

0.0%

28.8

295,283

-6.7%

-14.8%

605,077

-17.1%

-22.2%

1.9%

31.2

4,527,638

26.9%

11.0

79,087

-6.2%

0.093

0.170

230

23.8%

1187.9%

-6.2%

530,643

-27.5%

1187.9%

-17.1%

0.140

-15.4%

0.0%

0.192

0.260

0.260

102

939

22.5%

0.275

12,428

0.700

-29.8%

4,267

29

0.909

0.325

520

23

0.425

-10.8%

1.109

0.230

2.240

0.425

1

380

0.709

-18.5%

828

0

73

0.660

1.020

-

2,869

0.083

-

-

1.320

1.240

697

195

0.100

1.620

37

48

0.246

0.106

28

239,800 60,198

154,124

30.8%

1,139,114

-33.0%

3,058,350

13.3

1.2

nmf

1.6

16.4

0.6 9.1

10.8

1.4

10.7

1.6

UAE Rebased Performance

Summary

Best Performers 1,488 (1.5%)

DFM Index (% Chg.)

115

2,468 (0.2%)

ADSM Index (% Chg.)

Advance/Decline Ratio

DFM Index 52 week High / Low

105

100

Highest Turnover

Turnover (AED) 146,201,567 SIB.ADSM Sharjah Islamic Bank 32,418,696 TAQA.ADS Abu Dhabi National Energy Co. 30,411,176 EMIRATES Emirates NBD

F First Gulf Bank

A ALDAR Properties

92 90 21-Feb-12

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

21-Apr-12

S Sorouh Real Estate Co.

Abu Dhabi SE

24,955,162

E Emaar Properties

21-May-12

4.9%

0.31

2.7%

3.5%

Worst Performers

97 95

1.07

382,267,549

Market Cap. (AED '000)

102

5.1%

1.18

396,746

Turnover (AED '000)

9.9%

1.03

2,775 / 2,293 DEYAAR.D Deyaar Development Co.

ADSM Index 52 week High / Low

% Chg.

1.88

32% SOROUH.A Sorouh Real Estate Co. 3.80 ALDAR.AD ALDAR Properties 1,754 / 1,301 TAMWEEL Tamweel

% of stocks trading above 1yr avg. price

110

Close NBQ.ADSM National Bank of Umm Al Qaiwain

21,891,639

TATamweel

Close

% Chg.

0.86

1.17

2.72

ADCB.ADS Abu Dhabi Commercial Bank

3.10

NBAD.ADS National Bank of Abu Dhabi

8.72

-2.3%

-0.9%

-0.7%

-0.6%

-0.6%

Dubai FM

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (AED '000)

A Abu Dhabi Commercial Bank

3.10

-0.6%

3.10

3.09

3,460

T Abu Dhabi National Energy Co.

1.17

-0.9%

1.18

1.16

A Air Arabia

0.60

0.8%

0.60

0.59

A Abu Dhabi Islamic Bank

A Abu Dhabi National Hotels A ALDAR Properties A Amlak Finance

3.10

2.00

1.07 1.02

0.3% -

4.9% -

3.15 -

1.09 -

3.05 -

Volume ('000)

2.69

177

151

1.36

1.14

2,187

3,645

58

-

19

-44.8%

-20.8%

-42.0%

1,400,000

nmf

-39.4%

-11.1%

-39.4%

-

0.29

3.00

0.5%

1.91

1.89

E Emirates NBD

2.72

-0.7%

2.75

2.71

M Mashreq

N National Bank of Abu Dhabi N National Bank of Fujairah

N National Bank of Umm Al Qaiwain S Sharjah Islamic Bank

S Sorouh Real Estate Co. T Tamweel

1.26

67.00

-

2,191 3,059

-

1.04

1.00

30,411

2.90

825

U United Arab Bank

3.95

0.38

2.4% -

1.20 2.94

0.39 -

-

279

1,622 16,861

3.63

2.80

21,892

0.37

3,253 -

3.30

11.20 10.75

1.44

2.41

8.57 6.98

0.67

-

102.00

67.00

-

4.95

3.37

135

74

1.16

-

8,527

-

-

5.1% 0.7%

1,011

-16.8%

-41.3%

19

3.5%

-33.0%

2.65

758

1.88

1.18

0.20

4.63

14,270 146,202

0.86

0.46

-15.9%

1.88 0.87

7,317

1.88

9.9%

-2.3%

-15.1%

0.34

2.26

1.88

1.03

2.67

0.66

1,626

1,180

0.86

3.24

3,092

8.75 8.63

-

-

-25.8%

8.70

-

-8.2%

0.68

8.75

-

1.69

0.0%

1.31

24,955

-

1.96

-

12,480

2.88

-

608

-

12,128

-0.6%

4.95

2.92

* Closing Prices, Turnover and Market Cap. in USD

-

-

1,087

8.72

U Union National Bank U Union Properties

-

-

1.5

0.71

1.90

G Gulf Cement Co.

0.6

1.45

1.76

D Dubai Islamic Bank

8.85 8.72

4.7

14.6

0.96

0.2% 0.2%

0.2

4,552,275

-

10 86

9.00

2.24 1.02

7.38

0.0%

0.0%

-0.4%

43.2% 4.5%

-1.9%

-7.6%

-11.2%

-7.5%

-29.4%

-21.4% -19.3%

-3.6% 12.2%

77.5%

1,762,290

nmf

0.5

13,805,714

11.3

7,776,000

7,214,403

-0.8%

1,034,582 -

3.3%

33,786,149

-1.1%

3,008,000

-5.5%

5,445,000

2,085,930

0.67

-29.0%

21.2%

-23.7%

2,703,750

283

3.90

2.82

-25.1%

1.0%

-16.8%

7,287,225

8.5%

-11.2%

8,564 -

0.50

4.50

0.53

0.24

3.28

-20.8%

-23.4%

-12.2%

95.7% 46.9%

1.0

0.8

1.8 1.0

1.45 1.49

4.6

2.4

11.9 6.9

15,117,147

29,657 18,607

nmf

0.3

69,574,032 26,010,000

50.0%

2.4%

0.9

4.3

-14.6% -6.3%

8.8%

-15.7%

7.0

2,640,801

0.6

0.0%

3.9%

1.4

0.9

9.1

-10.3%

-16.1%

11.8

1.1

17,969,154

-34.0%

7.5%

nmf

0.5

-6.9%

-34.3% -3.1%

2,635,380

5,605,468

-2.1%

14.8%

1,530,000

-3.7%

-22.9%

1.63 0.80

-3.2%

15.7%

-10.6%

-12.5%

0.0%

1.1

8.5

10.3

125.5%

0.98

8.80 8.67

2,818,687

91.5%

1.8%

E Etisalat F First Gulf Bank

-17.5%

-16.1%

0.97

2.96

3.1%

1.18

D Dubai Financial Market

2.4%

-20.0%

3.46

-

8,968

2.95

0.57

5,561

-

3,602

E Emaar Properties

0.8

4,371,088

0.39

3.04

7.0

-25.7%

0.41

1.3%

7,283,250

6.3

16.3%

2.6%

3.02

-6.4%

7,330,588

-26.2%

0.40

D du

-2.5%

0.3%

0.76

D Dana Gas

0.31

-14.0%

-1.9%

1.45

612

2.7%

0.8

-12.7%

30,394

491

0.31

5.3

32,419

0.80

D Deyaar Development Co.

17,346,352

1.03

0.82 -

9.5%

2,000,000

2.6% -

11.5%

-28.1%

0.76

PB

-6.6%

-9.1%

0.80 2.75

PE

-28.6%

A Arkan Building Materials Co. C Commercial Bank of Dubai

Trailing

Market Cap. (AED '000)

1.98

16,164

1.80

2.92

12 mths

2.80

2.88

1.7%

3.55

YTD

-

2.93

1.80

on high

3.32

1.4%

A Aramex

% Change

Low

1,116

2.90

A Arabtec Holding

52-Week High

25.9%

-12.3%

8.6

nmf

13.8

0.8

0.9

8.8

1.2

8.9

0.9

7.6

0.4

4.8

0.7

18.5 7.9

1,180,000

12.7

1,276,039

nmf

3,935,785

0.4

11.4

2.7

0.5

0.5

0.5

2.0


STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY tuesday, may 22, 2012

QATAR Rebased Performance

Summary

Best Performers 8,423 (0.2%)

DSM Index (% Chg.)

Advance/Decline Ratio

110

DSM 52 week High / Low

461,371,410

Market Cap. (QAR '000)

102

97

Turnover (QAR) 44,029,843 QNNS.DSMQatar Navigation 26,096,772 ERES.DSMEzdan Real Estate Co. 18,949,631 QGTS.DSMQatar Gas Transport Co.

V Vodafone Qatar

MMasraf Al Rayan

21-Mar-12

21-Apr-12

S&P GCC Large/Mid Composite

16,915,294

IQIndustries Qatar

21-May-12

77.60

0.8%

26.65

0.6%

0.9% 0.6%

Worst Performers

Q Qatar National Bank 90 21-Feb-12

1.3%

16.09

MARK.DSMMasraf Al Rayan

Highest Turnover

% Chg.

9.32

57.00

8,892 / 8,071 QIBK.DSM Qatar Islamic Bank 348,294 AHCS.DSMAamal Co.

Turnover (QAR '000)

100

Close

44% VFQS.DSM Vodafone Qatar 2.75 DHBK.DSMDoha Bank

% of stocks trading above 1yr avg. price

13,410,371

Q Qatar Gas Transport Co.

Close

% Chg.

64.00

-1.5%

15.74

-0.8%

19.30

QTEL.DSM Qatar Telecom

-1.0%

116.30

QEWS.DSMQatar Electricity & Water Co.

-0.3%

140.00

0.0%

Doha SM

Quotes Company Name A Aamal Co.

Close 16.09

Daily % Chg.

High

0.6%

K Al Khalij Commercial Bank

17.25

C The Commercial Bank of Qatar

70.10

0.4%

E Ezdan Real Estate Co.

19.30

-1.0%

26.65

0.6%

B Barwa Real Estate Co. D Doha Bank

26.65 57.00

IQIndustries Qatar

137.30

Q Qatar Electricity & Water Co.

140.00

M Masraf Al Rayan

Q Qatar Gas Transport Co.

Q Qatar International Islamic Bank Q Qatar Islamic Bank

0.9%

116.30 9.32

17.12

11,959

70.50

70.00

5,566

19.79

19.00

395

17.58 26.70 57.00

26.35

13,237

56.60

491

16,915

0.0%

140.90

139.20

2,757

0.1%

49.85

49.45

0.2%

133.60

133.00

26,097

-0.3%

117.00

116.20

4,491

-1.5%

1.3%

26.70 15.99

77.70

26.45

18,950

15.53

13,410

77.30

65.00 9.49

688 499

9.17

44,030

% Change

Low

21.90

on high

14.00

18.00

16.06

31.20

26.25

-26.5% -4.2%

-14.6%

YTD

-12.1%

-11.0%

-15.3%

0.5%

85.50

68.00

-18.0%

-16.5%

20

24.97

18.60

-22.7%

67.00

50.00

nmf

-5.2%

-4.3%

14.1%

19,987,500

13.9

-14.1%

-10.1%

-14.0%

-9.0%

-7.9%

-3.6%

18,336,352 7,329,613

20

56.20

45.50

-11.9%

196

141.73

122.73

-5.9%

38

123.30

94.31

56

84

4,719

85.30

76.30

86.70 9.22

-6.1%

-5.4%

-11.1%

5.8%

3.2% 0.3%

-8.3%

-6.2%

75,515,000

-4.1%

14,000,000 8,717,505

5.1%

-3.5%

1.1%

65.00

-26.2%

-16.3%

-25.7%

7.24

1.1%

23.4%

16.9%

-5.7%

11,781,775

23.3%

8.9%

1.2

7.6

51,193,186

129.50 15.86

10,370,172

1.5

12.7

-16.3%

148.00 18.32

6,210,000

-13.1%

-14.9%

20

855

-3.7%

PB

18.1

9.1

118.80 22.50

8,761,005

Trailing PE

17,345,991

146.20 28.10

Market Cap. (QAR '000)

-4.6%

124

713

12 mths

11.3%

79 9

4,309 5,420

High

53

968

63.70

52-Week

Volume ('000)

850

136.10

0.8%

Q Qatar Telecom

15.78

137.70

77.60

64.00

16.22

Turnover (QAR '000)

0.5%

-0.8%

133.30

V Vodafone Qatar

0.2%

15.74

49.50

Q Qatar National Bank Q Qatar Navigation

0.3%

Low

0.9

1.3

9.3

1.8

1.8

9.8

3.1

10.3

4.6

2.4

10.6

4.5

7,492,753

11.2

1.7

93,273,934

11.9

2.2

37,253,216 7,879,128

12.8

1.7

10.1

0.7

14.7

1.8

nmf

1.2

OMAN Rebased Performance

Summary

Best Performers 5,623 (0.1%)

MSM Index (% Chg.)

115

Close

37% RNSS.MSMRenaissance Services

% of stocks trading above 1yr avg. price

4.00

Advance/Decline Ratio

OCOI.MSM Oman Cement Co.

MSM 52 week High / Low

6,792,599

Market Cap (OMR '000)

0.52

1.4%

0.29

0.4%

0.44

0.0%

0.65

6,082 / 5,419 NBOB.MSMNational Bank of Oman 2,081 BKMB.MSMBank Muscat

Turnover (OMR '000)

% Chg. 0.8%

0.58

BKDB.MSMBank Dhofar

0.4%

105

Highest Turnover

102

Worst Performers Turnover (OMR) 276,920 RCCI.MSM Raysut Cement Co. 225,715 #N/A #N/A

B Bank Muscat

99

R Raysut Cement Co.

154,559

O Oman Telecommunications Co.

95 21-Feb-12

21-Mar-12

21-Apr-12

21-May-12

S&P GCC Large/Mid Composite

114,393

R Renaissance Services

48,354

O Oman Cement Co.

Close

% Chg.

1.22

-0.2%

#N/A

BKDB.MSMBank Dhofar

0.44

NBOB.MSMNational Bank of Oman

0.29

BKMB.MSMBank Muscat

#N/A

0.0%

0.58

0.4%

0.4%

Muscat SM

Quotes Company Name

Close

B Bank Dhofar

0.440

N National Bank of Oman

0.287

O Oman Telecommunications Co.

1.285

R Renaissance Services

0.520

B Bank Muscat

O Oman Cement Co.

R Raysut Cement Co.

Daily % Chg.

High

0.0%

Low

0.437

0.4%

0.584

0.574

0.653

0.8%

0.655

0.650

1.218

0.0%

-0.2%

1.4%

0.288

1.288

1.230

High 2

277

Low

0.522

on high

0.423

-15.7%

YTD

-13.4%

-8.0%

-4.3%

0.565

-13.7%

-13.1%

74

0.693

0.416

-5.8%

51.2%

-2.6%

60.3%

1.281

155

120

0.513

114

220

36

48

185

0.324

0.286

1.425

1.041

1.250

0.711

0.950

0.458

-11.4% -9.8%

-45.3%

12 mths

-3.3%

0.671

10

226

% Change

478

0.286

1.210

0.527

52-Week

Volume ('000)

1

0.437

0.579

0.4%

Turnover (OMR '000)

-1.8%

Market Cap. (OMR '000)

PE

PB

484,051

12.1

318,003

8.8

-6.9%

1,040,344

16.0%

216,060

15.7

243,600

14.5

17.6%

963,750

15.9%

-4.6%

Trailing

-44.7%

146,689

2.1

8.4

1.2 1.2

1.5

8.3

2.2

nmf

0.9

2.5

BAHRAIN Rebased Performance

Summary

Best Performers 1,146 (-0.2%)

BSE Index (% Chg.)

115

42% BBK.BSE 1.00 NBB.BSE

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

National Bank of Bahrain 1,366 / 1,129 AUB.BSE Ahli United Bank 158 ITHMR.BSE Ithmaar Bank

BSE 52 week High / Low

110

Close BBK

Turnover (BHD '000)

6,487,987

Market Cap. (BHD '000)

#N/A

% Chg.

0.39

1.0%

0.61

-0.8%

0.56

0.9%

0.16

#N/A

-8.6%

#N/A

#N/A

105

Highest Turnover

102 100

100

Worst Performers Turnover (BHD) 42,853 ITHMR.BSE Ithmaar Bank 10,064 AUB.BSE Ahli United Bank

IT Ithmaar Bank

A Ahli United Bank

5,880

B BBK

95 21-Feb-12

21-Mar-12 21-Apr-12 S&P GCC Large/Mid Composite

2,965

N National Bank of Bahrain

21-May-12 Bahrain SE

-

B Albaraka Banking Grp.

NBB.BSE BBK.BSE

Close

% Chg.

0.16

National Bank of Bahrain

0.61

-0.8%

0.39

1.0%

0.56

BBK

BARKA.BS Albaraka Banking Grp.

-8.6%

0.91 -

0.9%

Quotes Company Name

Close

Daily % Chg.

High

A Ahli United Bank*

0.605

-0.8%

A Arab Banking Corp.*

0.460

-

B Albaraka Banking Grp.* B Bahrain Islamic Bank

B Bahrain Telecommunications Co. B BBK

IN Investcorp Bank*

IT Ithmaar Bank*

N National Bank of Bahrain U United Gulf Bank

* Closing Prices, Turnover and Market Cap. in USD

0.910 0.090

0.478

-

Low

0.605

0.605

-

-

-

-

-

-

-

-

-

-

-

-

0.392

1.0%

0.392

0.392

0.160

-8.6%

0.165

0.160

0.234

-

-

-

797

0.560

-

0.9%

Turnover (BHD '000)

-

0.560

0.560

27 -

High

44

-

6

3

-

0.676

-10.5%

YTD 0.3%

12 mths

3,165,461

-19.3%

1,430,221

2.1%

688,320

-2.6%

-10.8%

0.116

0.082

-22.4%

0.0%

-22.4%

0.486

706

0.240

-

0.424

797

0.600

0.420 0.380 0.388 797

-13.2%

9.5%

922,927

0.8

333,732

10.4

-30.0%

637,391

-2.6%

-5.1%

479,002

-33.3%

146.2%

0.234

-44.8%

-22.0%

-6.7%

77.8%

-32.0%

1.2

nmf

0.0%

-6.7%

10.0

84,571

0.0%

-5.3%

PB 0.8

21.9%

-6.7%

Trailing PE 7.7

-1.6%

0.065

0.545

Market Cap. (BHD '000)

-8.6%

-10.8%

0.420

5

0.599

on high

0.857

15

-

% Change

Low

1.020 0.530

-

114 -

52-Week

Volume ('000)

428,329

195,287

6.8

0.4

8.7

1.3

4.5

0.6

10.4

1.8

nmf

nmf

1.4 0.7

0.9


LIFE

Comforting baby’s pain

When your baby is in pain -- be it from things like a circumcision, vaccine or incoming tooth -- parents can take steps to soothe, comfort and ease the pain as much as possible. The University of Michigan Health System offers these suggestions: • Cuddle your baby, and try to have skin-to-skin contact. • Distract your baby by singing, cuddling, talking or moving. • Nurse your baby if you are breast-feeding. • If you aren’t nursing, dip a pacifier in a sugar/water solution, but never honey. • Ask your doctor about administering a pain-relieving medication designed for i nfants.

tuesDAY, may 22, 2012

Spectacular ‘ring of fire’ solar eclipse wows millions CAPITALS: From a park near Albuquerque, to the top of Japan’s Mount Fuji, to the California coast the effect was dramatic: The moon nearly blotting out the sun creating a blazing “ring of fire” eclipse. Millions of people across a narrow strip of eastern Asia and the Western US turned their sights skyward for the annular eclipse, in which the moon passes in front of the sun leaving only a golden ring around its edges. The rare lunar-solar alignment was visible in Asia early Monday before it moved across the Pacific - and the international dateline - where it was seen in parts of the western United States late Sunday afternoon. People from Colorado, Oklahoma and as far away as Canada traveled to Albuquerque to enjoy one of the best vantage points at a park on the edge of the city. Members of the crowd smiled and cheered and children yelled with excitement as the moon crossed the sun and the blazing halo of light began to form. Some watched the eclipse by placing their viewing glasses on the front of their smartphones. Eventually, the moon centered and covered about 96 percent of the sun. “That’s got to be the prettiest thing I’ve ever seen,” said Brent Veltri of Salida, Colo. Elsewhere, viewing parties were held at observatories in Reno, Nev., and Oakland, Calif., while skywatchers gathered in coastal and forest counties in California. In some areas, special camera filters for taking photographs have been sold out for weeks in anticipation of the big event. Yet, while millions were making an effort to view the eclipse, some American Indians were adhering to tradition by staying indoors. Navajo Bonnie Charley of Monument Valley in northeast Arizona said she follows her tribe’s traditions. “You’re supposed to stay inside,” said the 75-year-old Charley, whose father was a medicine man. “No eating, drinking or sleeping. That’s for the duration of the eclipse.” She said Navajo traditions surrounding eclipses stem from their beliefs regarding creation. The eclipse was broadcast live on TV in Tokyo, where such an eclipse hasn’t been visible since 1839. Japanese TV crews watched from the top

This combination picture shows an annular solar eclipse seen from Page, Arizona on May 21, 2012. (AFP)

of Mount Fuji and even staked out a zoo south of Tokyo to capture the reaction of the chimpanzees - who didn’t seem to notice. Eclipse tours were arranged in Japan at schools and parks, on pleasure boats and even private airplanes.

Similar events were held in China and Taiwan as well, with skywatchers warned to protect their eyes. A light rain fell on Tokyo as the eclipse began, but the clouds thinned as it reached its peak, providing near per-

fect conditions. “It was a very mysterious sight,” said Kaori Sasaki, who joined a crowd in downtown Tokyo to watch event. “I’ve never seen anything like it.” A Japanese zoo said the eclipse apparently made ringtailed lemurs believe it was evening. Some 20 lemurs at the Japan Monkey Center in central Japan skipped breakfast, climbed up and jumped between trees and poles, a typical evening behavior, according to the zoo web site. They returned to normal after the eclipse. “They must be reacting to the eclipse,” zoo director Akira Kato told public broadcaster NHK. At the Taipei Astronomical Museum in Taiwan, the spectacle emerged from dark clouds for only about 30 seconds. But the view was nearly perfect against Manila’s orange skies. “It’s amazing. We do this for the awe (and) it has not disappointed. I am awed, literally floored,” said astronomical hobbyist Garry Andreassen, whose long camera lenses were lined up with those of about 10 other gazers in a downtown Manila park. Hong Kong skywatchers weren’t so lucky. Several hundred people gathered along the Kowloon waterfront on Hong Kong’s famed Victoria Harbor, most of them students or commuters on their way to work. The eclipse was already under way as the sun began to rise, but heavy clouds obstructed the view. The eclipse followed a narrow 8,500-mile path for 3 1/2 hours. The ring phenomenon lasted about five minutes, depending on location. People outside the narrow band for prime viewing saw a partial eclipse. “Ring of Fire” eclipses are not as dramatic as a total eclipse, when the disc of the sun is entirely blocked by the moon.The moon is too far from Earth and appears too small in the sky to blot out the sun completely. Doctors and education officials have warned of eye injuries from improper viewing. Before the event started, Japan’s Education Minister Hirofumi Hirano demonstrated how to use eclipse glasses in a televised news conference. Police also cautioned against traffic accidents - warning drivers to keep their eyes on the road. -AP

The annular solar eclipse is seen from the Very Large Array outside Socorro, New Mexico, on May 20, 2012. (AFP)

Climate scientists say they have solved riddle of rising sea PARIS: Massive extraction of groundwater can resolve a puzzle over a rise in sea levels in past decades, scientists in Japan said on Sunday. Global sea levels rose by an average of 1.8 millimeters (0.07 inches) per year from 1961-2003, according to data from tide gauges. But the big question is how much of this can be pinned to global warming. In its landmark 2007 report, the UN’s Nobel-winning Intergovernmental Panel on Climate Change (IPCC) ascribed 1.1mm (0.04 inches) per year to thermal expansion of the oceans -- water expands when it is heated -- and to meltwater from glaciers, icecaps and the Greenland and Antarctica icecaps. That left 0.7mm (0.03 inches) per year unaccounted for, a mystery that left many scientists wondering if the data were correct or if there were some source that had eluded everyone. In a study published in the journal Nature Geoscience, a team led by Yadu Pokhrel of the University of Tokyo say the answer lies in water that is extracted from underground aquifers, rivers and lakes for human development but is never replenished. The water eventually makes it to the ocean through rivers and evaporation in the soil, they note. Groundwater extraction is the main component of additions that account for the mystery gap, according to their paper, which is based on computer modeling. “Together, unsustainable groundwater use, artificial reservoir water impoundment, climate-driven change in terrestrial water storage and the loss of water from closed basins have contributed a sea-level rise of 0.77mm (0.031 inches) per year between 1961 and 2003, about 42 percent of the observed sea-level rise,” it says. The probe seeks to fill one of the knowledge gaps in the complex science of climate change. Researchers admit to many unknowns about how the oceans respond to warming, and one of them is sea-level rise, an important question for hundreds of millions of coastal dwellers. Just a tiny rise, if repeated year on year, can eventually have a dramatic impact in locations that are vulnerable to storm surges or the influx of saltwater into aquifers or coastal fields. In its 2007 Fourth Assessment Report, the IPCC said the oceans would rise by between 18 and 59 centimeters (seven to 23 inches) by the century’s end. But this estimate did not factor in meltwater from the mighty Greenland and Antarctic ice sheets. A study published last year by the Oslo-based Arctic Monitoring and Assessment Project (AMAP) said sea levels would rise, on current melting trends, by 90 cms to 1.6 meters (3.0 to 5.3 feet) by 2100. -AFP

‘Asian unicorn’ at risk of extinction from poaching: WWF LONDON: Poaching in Vietnam and Laos may be driving the “Asian unicorn” to extinction, warns the WWF on the twentieth anniversary of its discovery according to The Guardian. The saola is an antelope-like reclusive species that lives in remote regions of the Annamite mountains on the border of Vietnam and Laos, dubbed the Asian Unicorn because it is so rarely seen. It came to worldwide attention in 1992 as the first large mammal to be discovered in over 50 years when surveyors from the Vietnamese Ministry of Forestry and the WWF found skulls of the unknown species in mountain villages. DNA tests have indicated it is a bovine related to cattle, though it resembles a wild goat or antelope with two parallel horns found on both males and females. Now the WWF and conservation groups say populations of the saola is dropping. Estimates of the current saola population range from 10 to several hundred. A 2009 meeting of the International Union for Conservation of Nature (IUCN) concluded that the species population has dropped precipitously, and the saola remains on its list of critically endangered species. While the WWF does not know the exact population number of the saola, WWF Asian species expert Barney Long said there are indications the population is likely dropping. Interviews with communities have indicated sightings of the saola have dropped over the past 20 years. Poaching in the Annamite mountains has also

On the 20th anniversary of the saola’s discovery, conservationists say the population of the reclusive species has dropped dramatically

FILE - An ‘Asian unicorn’ or saola caught on a camera-trapped in Bolikhamxay Province, central Laos in 1999. (Agencies)

reached epidemic levels, and though the saola is not sought after by hunters, the horned beast is nevertheless caught in their snares.

“Poachers go in and set 1,000 snares at a time. It’s high-intensity poaching which requires an appropriate response form anti-poaching teams. That’s ex-

tremely difficult to fund and logistically organise,” said WWF Asian species expert Barney Long. In one park in central Vietnam, where the WWF has begun to work with community forest guards, 200 illegal hunting camps have been closed and 12,500 snares removed since February 2011. Poaching in the mountains has been the by-product of economic development in Vietnam, said Long. The growth of the country’s middle class has driven demand for rare, wild-caught cuisine among the country’s middle class. “An increasing number of people going to restaurants and buying splashy meals. If you’re trying to impress your business partners especially around festival seasons, then you take them out for expensive dinners. A great way to kind of show off and be a status symbol is to eat status meat.” The Annamite mountains are home to 42 ethnic groups, according to Long, each with their own culture, language, and hunting practices. Since 1992, the animal has mainly been sighted by scientists with camera traps. One was captured by villagers in Bolikhamxay province, Laos in 2010, but it died in captivity before researchers could reach the village. No scientist has spotted the saola in person. The habitat of the saola makes the species very difficult to track but also to protect. The animal resides in very specific and remote pockets of a mountain range Long described as an already “very remote, very steep, very wet, very difficult terrain.”

Simple scope exam cuts colon cancer deaths: Study WASHINGTON: A simple, cheaper exam of just the lower part of the bowel can cut the risk of developing colon cancer or dying of the disease, a large federal study finds. Many doctors recommend a more complete test - colonoscopy - but many people refuse that costly, unpleasant exam. The new study shows that the simpler test, flexible sigmoidoscopy, can be a good option. Although it may seem similar to having a mammogram on just one breast, experts say that even a partial bowel exam is better than none. As one put it, “the best test is the one that gets done.” Colorectal cancer is the second leading cause of cancer deaths in the United States and the fourth worldwide. More than 143,000 new cases and 52,000 deaths from the disease are expected this year in the U.S. alone. People ages 50 to 75 who are at average risk of colon cancer are urged to get screened, but only about 60 percent do. Government advisers recommend one of three methods: annual stool blood tests, a sigmoidoscopy (SIGmoy-DAH-skuh-pee) every five years plus stool tests every three years, or a colonoscopy once a decade.

In a colonoscopy, a thin tube with a tiny camera is guided through the large intestine. Growths can be removed and checked for cancer. Patients are sedated, but it requires drinking strong solutions the day before to clean out the bowel. Sigmoidoscopy is not a popular choice in the United States but it’s the one used most often in England. It also uses a thin scope and tiny camera, can be done in an ordinary doctor’s office, requires much less bowel preparation and costs just $150 to $300 versus $1,000 to $2,000 for a colonoscopy. One drawback: It’s done without anesthesia. The test usually isn’t painful, but patients feel cramping and some discomfort, said Dr. Durado Brooks, the American Cancer Society’s colon cancer expert. It also sees only the lower one-third of the colon, “but that is an area where probably half of polyps and cancers develop,” Brooks said. The new study, led by Dr. Robert Schoen of the University of Pittsburgh Medical Center, tested how well it works. From 1993 to 2001, about 155,000 people ages 55 to 75 were assigned to get the simple scope exam at the start of the study and three to five years later, or usual

care - screening by any means only if they or their doctors wanted it done.Any patients with suspicious findings were sent for a colonoscopy. After about 12 years of follow-up, there were 21 percent fewer cases of colon cancer and 26 percent fewer deaths from the disease in the group assigned to get sigmoidoscopy. Of the cancers in that group, 243 were considered to have been caught by sigmoidoscopy (many others were found because of symptoms or other tests). Researchers estimate that 97 more would have been detected if colonoscopy had been the main screening method instead of the simpler scope exam, said study co-leader Dr. Christine Berg, chief of early detection research at the National Cancer Institute, which sponsored the research. In the study, about half of the group assigned to usual care wound up getting some type of scope exam anyway. That was far more than study leaders expected, and it could have diminished the true benefit sigmoidoscopy gave to the screening group, Dr. John Inadomi of the University of Washington in Seattle wrote in an editorial in the medical journal. -AP


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ALWATAN DAILY

CULTURE

tuesdAY, may 22, 2012

London 2012 Paralympics ‘to be biggest in history’ FRANCE: London 2012 will be the biggest Paralympics in history, with 19 more nations taking part than four years ago, organizers said Monday as they began counting down the last 100 days until the Games. Some 4,200 competitors will take part -- up from 3,951 in Beijing in 2008 -- and 16 nations will be making their Paralympics debut including isolated North Korea and conflict-torn Democratic Republic of Congo. “London could be the Paralympics’ Movement’s first sold-out Games in terms of spectators too. A record number of TV viewers are also set to tune in,” International Paralympics’ Committee president Philip Craven said in a statement. “It’s hard to believe that the forerunner for the Paralympics took place just 64 years ago at Stoke Mandeville Hospital with 16 injured war veterans, when you consider that 4,200 elite athletes will now compete in London.” Athletes from 23 nations held the first Paralympics in Rome 12 years after the Stoke Mandeville event in Britain, which involved veterans who had been injured during World War II. One million tickets for this year’s Paralympics, from August 29 to September 9, were sold in September 2011 and another million went on general sale on Monday, organizers said. Broadcast deals totaling £10 million ($16 million, 12 million Euros) are set to bring the Games to a total of about four billion television viewers, while Grammywinning British band Coldplay are to headline the closing ceremony. A challenge remains in educating people who are unaware of the Paralympics or dismiss disability sport,

Vincent Fean, British consulate general in Jerusalem, poses with Palestinian Paralympians from the Gaza Strip in front of Jerusalem’s Dome of the Rock mosque during his visit to the Al-Aqsa mosque compound, Islam’s third holiest site on May 21, 2012, as they celebrate 100 days before the start of the London 2012 Paralympics. (AFP)

Britain’s nine-time Paralympics’ swimming gold medalist Chris Holmes said. “It is a real challenge that we have had right from the start of this project... No previous Games has really

nailed it but there are lots of reasons to be confident,” said Holmes, who is working on the organizing committee to integrate the Olympics, which start on July 27, and the Paralympics. -AFP

Free bicycles help keep Indian girls in school RAMPUR SINGHARA, India: The daily trip to high school was expensive, long and eventually, too much for Indian teenager Nahid Farzana, who decided she was going to drop out. Then, the state government gave her a bicycle. Two years later, she is about to graduate from high school and wants to be a teacher. The eastern state of Bihar has been so successful at keeping teenage girls in school, the bike giveaways have spread to neighboring states. Now the Indian government wants to expand it across the country in hopes it might help improve female literacy. Before starting the program in 2007, officials in Bihar, one of India’s poorest and least developed states, despaired over how to educate the state’s females, whose literacy rate of 53 percent is more than 20 points below that of its males. “We found that the high school dropout rate soared when girls reached the ninth grade.This was primarily because there are fewer high schools and girls had to travel longer distances to get to school,” said Anjani Kumar Singh, Bihar’s principal secretary overseeing education. Poor families could not spare the money for transport, or were reluctant to let girls travel so far away, fearing for their safety.

The program was an instant success, with the number of girls registered in the ninth grade in Bihar’s state schools more than tripling in four years, from 175,000 to 600,000. “The results are remarkable. The school dropout rate for girls has plunged,” says Singh. In her crisply starched blue tunic uniform and white scarf, Farzana appears a carefree teenager, proud to have made it into the tenth grade. But she almost did not make it. Her daily bus fare of 15 rupees (22 cents) to the new high school 6 kilometers from their home in Rampur Singhara village was an additional burden her father, a car mechanic, could not afford. “I wouldn’t have been able to keep Farzana in school for long,” said Mohammed Shiraz Ahmad, her father. A teacher told them about the free bicycles, and Farzana applied for the 2,500 rupee ($50) grant to buy the bike. “The bicycle has changed everything,” Ahmad said. In remote villages, along dusty potholed lanes surrounded by sheaves of waving wheat, gaggles of school girls can be seen jauntily cycling to school. The program has also raised the status of girls, who are often seen as a burden in son-obsessed India, where parents have to pay such hefty dowries to marry off their

Indian schoolgirls ride bicycles received under a Bihar state government program of giving free bicycles to teenage girls to keep them in school, on the outskirts of Patna, India. (AP)

daughters that the family is often indebted for decades. Now, girls are bringing an asset to the family, Singh said. Mohammed Jalaluddin, who runs a tea stall in Rampur Singhara, says his daughter’s bike is used by the entire family. Nizhat Parveen, his 16-year-old daughter, drops her brother at his school on the way to hers. When she returns, the family uses the bicycle for chores, from shopping for groceries to making food deliveries from the tea shop. Bihar is also giving free school uniforms to girls to keep them in school. The bike grant money is put into a joint bank account in the names of the student and her parents, and school administrators monitor whether the girls buy bicycles and use them, or if the bike is sold and the girl ends up leaving school, Singh said. But mostly, the program operates on the honor system. While corruption and fraudulent use of state money is rife in India, the Bihar government reports misuse of the bicycle funds is 1 percent. The results from Bihar were so encouraging that the program has been adopted by the neighboring states of Madhya Pradesh and Chhattisgarh. Rajasthan, another state with low female literacy rates, has launched a free bicycle program for girls in secondary and high school. The federal government is exploring a plan to give bicycles to Muslim girls as their dropout rate is worse than that of other communities. The bicycle program “has worked very well,” says Syeda Hameed, a member of India’s powerful Planning Commission body. Hameed said the body is also looking at other factors that affect school attendance by girls in the higher classes, such as the lack of toilets in schools. In poor families, older girls also leave school to take care of younger siblings while parents work. “This is a persistent problem which tends to push up dropout rates and is a matter of concern,” Hameed said. But with the bicycle program gaining in popularity, authorities are tightening conditions, demanding students have 75 percent attendance to “earn” their uniforms and the bicycle. For high school student Parveen, her proudest possession, the free bicycle, has allowed her to dream of even greater things. “Even college doesn’t seem far away now,” she says. -AP

UK royal image riding high in queen’s jubilee year

LONDON: Fifteen years ago, the death of Princess Diana left Britain’s royal family looking shattered, outdated and even in danger of extinction, tarred by embarrassing scandals, wrecked marriages, and a monarchy that seemed hopelessly out of touch. Now, millions are set to flock to London next month to celebrate Queen Elizabeth’s 60 years on the throne, with gushing newspapers running photos of the royals on front pages almost daily and barely a whiff of discontent in the air. Sports stars are happy to be pictured with them, while pop singer and reality TV judge Cheryl Cole, a darling of the British media and rarely out of the limelight, even dreams of marrying Elizabeth’s grandson, Prince Harry. Far from being a stuffy relic of the past, the royal family, it seems, are now “cool”. “They’re in vogue, they’re the flavor of the month,” said Mark Borkowski, one of Britain’s leading public relations experts, describing the image turnaround as amazing. “But make no mistake. To get to this point has taken a huge amount of clever husbandry.” The most obvious demonstration of the enduring royal pulling power and global appeal was last April’s wedding of Prince William, son of heir-to-the-throne Prince Charles, to Kate Middleton. A global TV audience of some two billion watched the glittering display of pageantry and a million crowded the London streets to catch a glimpse of the newlyweds breeze past in a horse-drawn carriage and then pootle about in a sports car in front of the media, heading for a post-wedding reception. “That image of Prince William and Kate Middleton, man and wife, going down the Mall in an open top sports car with a cheering crowd, that was a deliberately engineered photographic moment,” Borkowski said. “But it also showed the confidence of an organization to create one of those things outside the ubiquity of the kiss on the balcony.” Rather than a one-off, the positive coverage of the royals, even those who have not always enjoyed a happy relationship with the press, continues to blossom. Prince Charles made headlines reading a TV weather report, papers enthused about his second wife Camilla holding a replica gun on a visit to the set of cult Swedish TV drama “The Killing” and his son Harry’s trip to the Caribbean included a jocular photo session with Olympic 100 meter champion Usain Bolt. Meanwhile, Middleton, now the Duchess of Cambridge, is front page news whenever she steps out in public and her fashion choices are followed by legions of women around the world. It’s all a far cry from the dark days that followed Diana’s death in a Paris car crash in August 1997, a period captured in the Oscar-winning film “The Queen”. A British public, shocked by the loss of Charles’s hugely popular first wife, was beginning to turn against the House of Windsor as it stumbled to address rising anger. The queen’s decision to remain at her Balmoral estate in Scotland was angrily denounced by some people, as was her initial reluctance to fly a flag at half mast over Buckingham Palace because it broke with protocol. Support for the monarchy slumped below 50 per cent for the first time ever according to one poll, while another found 70 percent of Britons thought the queen was out of touch with her people. Diana’s death also came after a series of messy marriage break-ups and infidelities among senior royals. “I think if you compare the front pages and the headlines of 10, 15, 20 years ago, when it was much more about the personal lives and about scandal alleged or otherwise, there was this feeling where it just seemed to be a soap opera,” a senior royal aide told Reuters. “It just feels a fairer, saner environment now, a lot less drama,” he said, adding that William, Harry and Kate were also “brilliant standard bearers for a young generation of royals.” Even those who want the monarchy abolished acknowledge just how much things have changed. “The media are on board now,” said Professor Stephen Haseler, an expert on the British constitution and a leading member of Britain’s republican movement.-Reuters

Troubles continue for Myanmar’s Rohingya minority FRANCE: For five years, Abdul Rahim Abdul Hashim was repeatedly pressganged into forced labor at a Myanmar military camp, until the ethnic Rohingya teenager could take no more. Abdul Rahim crossed the border into neighboring Bangladesh late last year and secured passage on a rickety boat for the perilous 3,200-kilometre sea voyage to Malaysia. “I could not stay (in Myanmar) anymore. We could not go to school, I could not get any job,” said Abdul Rahim, 18, of the plight of the Rohingya, a Muslim minority that alleges particularly acute repression under Myanmar’s government. The newly civilian government’s moves to relax decades of military rule have been hailed worldwide and provided hope of a new era for majority Burmese and ethnic minorities who have long claimed oppression. But refugees and activists say initial optimism is fading among many Rohingya -- whom the United Nations calls one of the world’s most persecuted minorities -- as repressive practices have continued and an exodus abroad shows no sign of abating. “I don’t want to go back. There will be no change,” Abdul Rahim said in the Rohingya language through a translator. Myanmar has an estimated 750,000 Rohingya, according to the United Na-

tions, mainly in the western coastal state of Rakhine bordering Bangladesh. Another one million or more are believed to already live in exile in other countries. A Muslim minority in mainly Buddhist Myanmar who speak a Bengali dialect, Rohingyas claim decades of persecution by a government that they say views them with suspicion. Activists say forced labor is common and Rohingyas face discriminatory practices including travel restrictions, limits on family size, and a refusal to issue them passports that leaves them effectively stateless. “There is no change at the moment. The Rohingya still see no future,” said Chris Lewa, director of Bangkok-based The Arakan Project, an advocacy group monitoring the Rohingya. An estimated 7,000 Rohingya, some from exile in Bangladesh but also directly from Myanmar, risked the voyage to Malaysia since October, she said. Many still flee to Bangladesh but Muslim Malaysia has steadily become a magnet due to its more developed economy and because authorities have closed one eye to illegal migration in recent years due to a need for cheap labour. Malaysia has an estimated two million illegal migrants, most seeking economic opportunities, but the UN refugee

agency said there also are about 97,000 legitimate refugees fleeing persecution or other hardship, mostly from Myanmar and including 23,000 Rohingya. “The new destination country is Malaysia. This year it could be more than ever coming here,” Lewa said. Once in Malaysia, Rohingya remain vulnerable to harassment and have limited access to services such as health care. Lewa said Myanmar invited Rohingya to vote, stand as candidates and form political parties in 2010 elections, but adds that a corresponding offer of possible citizenship never materialized, crushing the hopes of many. “While the new government has engaged in a series of reforms toward democratization, there has been no real progress for the Rohingya, no change at the policy level and very little on the ground,” Lewa said. “Forced labor, marriage restrictions, restrictions on movement and arbitrary arrests continue.” Abdul Rahim embarked on the dangerous journey south along the Myanmar, Thai and Malaysian coasts with two dozen others aboard a small boat in Bangladesh. “I was very scared,” he said. Intercepted by Thai authorities, they were detained in a jungle camp for several weeks and fed just once a day until Abdul Rahim and

several others bribed their way out. They eventually made their way by bus and on foot to the Malaysian border. Those who make it must dodge Malaysian authorities while scraping out a meager living through manual labor. In a bare room in a residential neighborhood in Klang, a port town 30 kilometers west of the capital Kuala Lumpur, scores of young Rohingya men recounted their troubles back home as they sat together after an Islamic lesson. Abdul Rahim said he was regularly snatched from his home to help build roads, cut down trees and performs other hard labor at the military camp. “In Myanmar we can never sleep. Now we can sleep here,” he said. Several of the men said they paid smugglers up to $1,000 for passage, yet now earn just 30 ringgit ($10) a day transporting boxes of produce at a local fish market. Some harbor dim hopes of resettlement through the UN refugee agency to a third country such as the United States or Australia. But others embark on the even longer boat journey to Australia via Indonesia. “They have no hope. If they die (at sea), never mind. (They may) find a better life,” said a Rohingya exile who only gave his name as Yahya. -AFP

An exhibit is pictured during a preview of the exhibition “an incompetent dialogue?” at the museum of natural history (Naturhistorisches Museum) in Vienna May 21, 2012. The exhibition contraposes Daniel Spoerri’s art with exhibits of the museum of natural history and runs until Sept. 17, 2012. (Reuters)


ALWATAN DAILY

entertainment Song Of The Day

TUESDAY, MAY 22, 2012

17

Singer Robin Gibb, Bee Gees co-founder, dies at 62

Fahad AlSabah Staff Writer

Song: Love In Vein Artist: Drop Out Venus Album: Love In Vein - Single Genre: Alternative In short: “Love in vein and out of spite too / If it flows through your wrist then it must be true” begin newcomers Drop Out Venus their career on the enthralling “Love In Vein”; the jazz-tinged rock number hits so hard, it’s impossible not to be captured by their magic. For a better experience, watch the marvelous video the first time you hear the song. To listen to the song visit www.alwatandaily.com E-mail your feedback to falsabah@alwatandaily.com

The Buzz Baby boy born to Indian actress Shilpa Shetty Bollywood actress Shilpa Shetty has given birth to a baby boy. Shetty’s husband Raj Kundra tweeted the news Monday. “God has blessed us with a beautiful baby boy. Both mother and baby are fine. I am thrilled to bits,” he wrote. Shetty, 36, gained global fame in 2007 when she appeared on Britain’s “Celebrity Big Brother” television show and faced alleged racism. She went on to win the show. Shetty and Kundra together own a share in the Indian Premier League cricket team Rajasthan Royals. -AP

Missing actor Nick Stahl enters rehab: Reports “Terminator 3” actor Nick Stahl, who had been missing for more than a week, has checked himself into rehab, his estranged wife told media outlets on Sunday. Stahl’s wife Rose Murphy told E! Online celebrity news website that the actor, who has a history of substance abuse problems, was “really working hard” at sobriety. The 32-year-old American actor had been reported missing to police earlier this month. He sent an email to friends and family on Friday saying he wanted to check into rehab for 30 days, according to TMZ. com. Stahl had been spotted in the skid row area of Los Angeles last week, and his wife had said she believed drugs may have played a part in his disappearance. A Los Angeles police spokesman was not immediately available to comment on whether the missing person case had been closed. Best known for his roles in “Sin City” and as John Conner in “Terminator 3: Rise of the Machines,” Stahl has been married to Murphy since 2009, but the pair recently separated. The couple has one daughter. -Reuters

FILE- In this January 1979 photo, the British pop group the Bee Gees, from left, Robin Gibb, Barry Gibb and Maurice Gibb, pose for photographers, somewhere in England. (AP)

FILE - Robin Gibb of the Bee Gees arrives at the World Music Awards in Monte Carlo in this May 18, 2010. (Reuters)

LONDON: Bee Gees singer Robin Gibb, who with brothers Barry and Maurice helped define the disco era with their falsetto harmonies and funky beats on hits like “Stayin’ Alive” and “Jive Talkin’”, has died after a long fight with cancer. He was 62. The singer had colon and liver cancer and, despite brief improvements in his health in recent months, passed away on Sunday evening. Gibb died at the London Clinic surrounded by his second wife Dwina, sons Spencer and Robin-John and daughter Melissa. Officials at the clinic declined to comment on Monday. Barry, now the last surviving member of the Bee Gees, had been in Britain in recent weeks to see his ailing brother, but was in the United States when he died. Funeral arrangements are expected to be announced later this week, a spokesman said. “The family have asked that their privacy is respected at this very difficult time,” read a statement on Gibb’s website. Canadian rocker BryanAdams was among the stars who took to Twitter to say farewell. “Robin Gibb RIP. Very sad to hear about yet another great singer dying too young,” he wrote, referring to the death on Thursday of another giant of the disco era, Donna Summer. She was 63. Gibb spent much of a career spanning six decades pursuing solo projects. But it was his part in one of pop’s most successful brother

in 1971. They struggled to maintain the momentum and critics felt the brothers had become stale until, in 1975, the Bee Gees changed course with an emphasis on dance-friendly tunes featuring high harmonies on their 13th album “Main Course.” It produced the catchy chart-topper “Jive Talkin’,” which then led to an invitation to contribute to the soundtrack for the upcoming movie “Saturday Night Fever.” The Bee Gees’ contributions would prove the pinnacle of their fame - “Stayin’ Alive,” “How Deep Is Your Love,” “Night Fever” and “More Than a Woman” are all among their most recognizable songs, featuring the band’s distinctive high vocals and harmonies, disco beats and slower romantic ballads. The combination of the movie, starring John Travolta as the white-suited dance king Tony Manero, and the accompanying hits, helped launch the disco phenomenon the world over.

acts, the Bee Gees that earned him fame and fortune. Born in 1949 on the Isle of Man, located between England and Ireland, Robin and his family moved to Manchester where the brothers performed in local cinemas. They went to live in Australia where the Bee Gees as a group was officially born, and in 1963 released the first single “The Battle of the Blue and the Grey.” Believing their future lay in Europe, the Gibb brothers travelled to England to pursue a career in music and had their first British number one with “Massachusetts” in 1967. Train Crash

The same year, Robin and wife-to-be Molly survived the Hither Green rail crash in south London that claimed around 50 lives. He later recalled that they probably would have been killed had they not been sitting in a first class carriage. Rather than build on the early successes, the Bee Gees almost threw away the promising career they had worked so hard to achieve. After recording the double-LP set “Odessa,” the siblings fell out over which track should be the single and Robin walked out. Two years later the Gibbs were back together, and the 1970s was to belong to them. Early in the decade they released the ballads “Lonely Days” and “How Can You Mend a Broken Heart,” which topped the US charts

Long Battle with Illness

The Bee Gees achieved superstardom with album sales estimated today at up to 200 million, putting them in the same league as the likes of the Rolling Stones and Pink Floyd. The magic did not last, however, and with the disco era waning Robin and his brothers faded quickly into obscurity, concentrating in

the 1980s on producing and writing for other acts including Diana Ross. A 1987 comeback album “E.S.P.” was moderately successful and included the hit “You Win Again,” although in the 1980s Robin was actively pursuing his solo career. In 1988 Andy Gibb, the youngest brother who was also a pop star and teen idol, died aged 30. Maurice passed away in January 2003, at 53, of complications from a twisted intestine, a condition that plagued Robin towards the end of his life. According to online reports, in 2010, Robin had surgery for a blocked intestine and suffered further stomach pains last year forcing him to cancel a series of shows in Brazil. During surgery a tumor was discovered and he was diagnosed with cancer of the colon and, subsequently, the liver. His gaunt, frail appearance led to media speculation that he was seriously ill, but in February he spoke of a “spectacular” recovery and later that month performed on stage for the last time in a charity concert in London. He fell ill again and was unable to attend the world premiere of “The Titanic Requiem,” his first classical work written with son Robin-John. Gibb is survived by his second wife, Dwina, and four children, as well as his older brother, fellow Bee Gee Barry Gibb, and his sister Lesley Evans, who lives in Australia. -Reuters

Adele, LMFAO sweep tribute-filled Billboard awards

Katie Couric urges UVa graduates to persevere Television journalist Katie Couric has urged University of Virginia graduates to take risks and persevere. The Daily Progress reports that the former “Today” host and CBS News anchor addressed about 6,400 graduates on Sunday. She recounted the deaths of her husband and sister, both of whom died of cancer, and said, “Life can deal you some crushing blows, and we all need a deep reserve of resilience to survive.” Couric, now with ABC News and developing a daytime talk show “Katie” that debuts Sept. 10, also joked about criticism she faced as the first female solo anchor of a network’s nightly news program. She quipped, “Some said I lacked ‘gravitas,’ which I’ve since decided is Latin for ‘testicles.’” Couric is a 1979 UVa graduate. The university’s new cancer center is named for her sister Emily Couric, a Virginia state senator who died in 2001. -AP

Lady Gaga to go on in Philippines despite rallies Lady Gaga’s Philippine concerts will go ahead as planned, organizers said Sunday, despite a series of protests from Christian groups and calls for the controversial singer to be banned. Allan Florendo, assistant vice president of the sprawling SM Mall of Asia, whose arena will be the venue for the concerts Monday and Tuesday, said they were ready for the thousands of Gaga-fans and even any stray protesters. The Asian leg of Lady Gaga’s tour has seen various protests, including in Indonesia where her June show has been denied a permit by police amid threats from Islamic hardliners. Almost 500 Christian protesters gathered near the 20,000seat Manila concert venue Sunday, holding lit candles under umbrellas to shield them from the rain. Lady Gaga, who arrived late Saturday, had remained in her hotel for the day. The concert was originally scheduled for just one night but was extended to two because of overwhelming demand, said Edgar Tejerero, senior vice president of company running the arena. -AFP

Jackson raises money for quake-damaged Virginia county Country singer Alan Jackson has raised more than $150,000 to help a Virginia county rebuild schools damaged by last year’s earthquake. A benefit concert by Jackson drew 6,000 people to Louisa County on Sunday night. Jackson performed in the parking lot of Louisa County High School, which was closed after the magnitude-5.8 earthquake on Aug. 23, 2011. Mineral, the town at the quake’s epicenter, won the show in an online voting contest. Media outlets report that Jackson told the crowd many of those who voted for Mineral in the contest aren’t from the town. He said that shows people in America take care of each other. -AP

Redfoo (left) and SkyBlu of LMFAO pose with their awards backstage during the Billboard Music Awards at MGM Grand Garden Arena in Las Vegas May 20, 2012. (Reuters)

LOS ANGELES: Energetic performances and heart-felt tributes took center stage at the Billboard Music Awards on Sunday, as Adele, LMFAO, Justin Bieber, Katy Perry and Taylor Swift came away top awards. British Grammy-winning singer Adele won 12 awards from 18 nominations for her juggernaut album “21,” including top artist, top female artist and top album. Her awards were not presented during the live show and the singer was not present. But LMFAO, the uncle-nephew duo Redfoo and SkyBlu, showed in trademark outrageous fashion and picked up two awards, song of the year for “Party Rock Anthem” and the top duo/group, along with four more honors. Rappers Wiz Khalifa, Lil Wayne and R&B singer Chris Brown took honors for top new artist, male artist of the year and R&B artist of the year, respectively. LMFAO kicked off the show with an energetic medley of their hits “Party Rock Anthem” and “Sexy And I Know It.” They were followed later by a shirtless Chris Brown performing his dance single “Turn Up The Music” with BMX bikers doing stunts. Katy Perry, clad in a white dress, hung above the stage in a swing to sing her latest “personal and intimate” heartbreak single “Wide Awake,” while Justin Bieber, one of last year’s big winners at the Billboard show, presented a grown up image this year after turning 18-years-old, singing “Boyfriend”

Rapper Wiz Khalifa winner of the award for Top New Artist poses in the press room at the 2012 Billboard Music Awards on May 20, 2012 in Las Vegas, Nevada. (AFP)

with dancers dressed as clowns and neon geisha girls. Other performers included Kelly Clarkson, The Wanted, Carly Rae Jepsen, Usher, Carrie Underwood, Linkin Park, Nelly Furtado and Billboard Battle of the Bands winner, Patent Pending. Taylor Swift was given the Billboard Woman of the Year honor for her success as a recording artist, and she picked up the award from “New Girl” TV star Zooey Deschanel and veteran artist Kris Kristofferson, who praised Swift for having “done it the old-fashioned way by speaking the truth beautifully.” Bieber picked up the award for the most social artist, thanking his 22 million Twitter followers and 43 million Facebook fans, saying “the Internet is where I got my start.” Perry was given the Spotlight award for being the only female artist in history to see five No. 1 singles from one album. Michael Jackson is the only artist to have received the award previously. Veteran soul singer Stevie Wonder, 62, was honored with the Icon award this year and sang “Higher Ground” and “Overjoyed” with R&B singer Alicia Keys, wrapping the set with his hit song “Superstition.” Tributes to the Fallen

With some big losses in the music world already this year, the awards show featured numerous tributes to late artists.

Stevie Wonder poses with the Billboard Icon Award backstage at the 2012 Billboard Music Awards held in Las Vegas, Nevada May 20, 2012. (Reuters)

Early in the show, hosts Julie Bowen and Ty Burrell paused to remember late Bee Gees singer Robin Gibb, who died on Sunday after a long battle with cancer, with a moment of silence. New Zealand artist Natasha Bedingfield paid tribute to late ‘Disco Queen’ Donna Summer, who died earlier this week after fighting lung cancer, saying “if we can remember her through her music, this will never really be her last dance,” before kicking off into Summer’s hit, “Last Dance.” Wiz Khalifa paid tribute to late Beastie Boy Adam “MCA” Yauch, who passed away earlier this month after battling cancer, while Cee Lo Green joined his hip hop band Goodie Mob to perform “Fight For Your Right” in Yauch’s memory. The biggest tribute of the night was for Whitney Houston, who died suddenly aged 48 in February this year. The late singer was posthumously given the Millennium award, while singers John Legend and Jordin Sparks led heartfelt renditions of “The Greatest Love of All” and “I Will Always Love You” against a backdrop of photographs of Houston. Houston’s sister-in-law Patricia Houston and teenage daughter Bobbi Kristina Brown accepted the award, with the late singer’s emotional daughter saying “I’m just blessed to have been in such an incredible woman’s life, there will never be another one ever.” -Reuters


18

ALWATAN DAILY

AROUND TOWN / TIME OUT

TUESDAY, MAY 22, 2012

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

Feature o f

graffiti

the day

moderately confused

Kurt Geiger launches its stunning Spring Summer 2012 range

KUWAIT: Spring Summer 2012 marks the arrival of a distinctly contemporary collection that boasts laid-back charm. This season sees the revival of wellworn traditions with new tonal layering and complex constructions that further establish Kurt Geiger as an authority in design. For Spring/Summer 2012 the Kurt Geiger fashionista discovers her fascination with a rhinestone-studded California. Collections of crystal coated stilettos and pin-up mules sit comfortably in a paradise where the rich and famous mingle and Marilyn Monroe and the late Elizabeth Taylor play out their glamorous guises amidst sun-drenched cityscapes. ‘Everything but the Dress transforms for spring with a kaleidoscope of shades whilst accents of scarlet and neon give pace to pretty pastels. ‘Soft but not always sweet, the collection has a refined edgy undertone’ - said Rebecca Farrar-Hockley, Creative Director. Fusing fragility and provocation, signature stilettos are fashioned in white and soft shades of turquoise, mint, lilac, lemon and pink. Continuing the experimental print work from the debut collection, Kurt Geiger’s

Month a t

design team has continued to collaborate with British print designer, Joe Duke. The street as the stage continues to be important, so for every fantastical heel there is an array of flats and short heels culminating in a sweet but sharp Neapolitan ice-cream pointed pump. Designed in London and crafted in Italy, the signature Kurt Geiger London single-soled stiletto stands as the hero in a multitude of heel heights and colors. A game of dress up with scarlet satin or pearlescent glitter ‘Marilyn’ mules, the KG*Kurt Geiger collection plays from satin bows to grown-up guises with Art Deco inspired designs. The collection harbors a futuristic vintage feel with glamour at its heart without forgetting functionality. Jewelry for your feet, Carvela is an embellished collection of rhinestones that appear to float above stiletto sandals and cork wedges, whilst dainty 1920s styles and feminized sportswear take inspiration from the Hollywood Golden Age. The shoes come out to play in a tropical print and palette as sky-high points and midiheels parade bows in turquoise, coral, lemon, lilac and pink patent that compliment a white glitter-stingray.

Sudoku

Intermediate

Advanced

Elementary

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

a glance with family and friends for a public program - Protect yourself and your progeny from hell fire (Quran 66:6) on Thursday at Jamiyatul Islah Auditorium Rawdah, adjacent to highway 40. Dinner packet shall be served after the program. Contact: 99037240|66037944|66218674 for more details.

Carnatic concert May 24/ 6:30 p.m. / Jleeb Al Shoyoukh: Kalanjali Kuwait is organizing “Padma Vibhushan” “Chevalier” Dr. Mangalampalli Balamuralikrishna Carnatic Concert at the Integrated Indian School auditorium, Jleeb Al Shoyoukh. Accompanying artistes are Violin - Lalgudi Vijayalakshmi (D/o Padma Vibhushan Dr. Lalgudi Jayaraman), Mrudangam - “Padmasri” Dr.Yella Venkateswara Rao, Ghatam - Sri Giridhar Udupa and Thambura - “Kalaimamani” Dr. Saraswathi. For more details send an email to kalanjaliq8@gmail.com

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

International bazaar Golden era club May 11 and 25/ 5 p.m. - 7 p.m. / Rumaithiya: Golden Era Club presents ‘The Eight Fold Path to Yoga’. Yoga here! Yoga there! Yoga everywhere! Yet, few comprehend Yoga’s true nature! Join Yoga Guru - Aacharya Shashikala Pushkarna - on this unique journey to the true ‘union’ between the mind, body and spirit. All seniors (60+) are cordially invited. Venue- House #34, next to Abu-Tammam Intermediate School for Boys, Sate Alhusari St., Block 2, Rumaithiya. For registration call 97172788/ 66208183 or drop a line to goldenera60@yahoo.com

Diwaniya presentation May 22/ 7 p.m. / AWARE Center: You are cordially invited to a diwaniya presentation entitled, “You and the environment: how can you make a difference?” by Dr. Mohammed Al-Furgi. Environmental issues are sometimes classified as academic or elite issues and we may feel that we as individuals do not have a role to play. What can citizens and residents do to reduce littering and conserve water and energy? In his 25-minute presentation, Alforgi will discuss these questions and many more.

IMAK organizes public program May 24/ Rawdah: Indian Muslim Association-Kuwait cordially invites you

May 26/ 10 a.m.-3 p.m. / TIES Center: Stop by and have the opportunity to see and even own some international antiques on display and taste the delicious foods on display. Also have your name inscribed in Arabic calligraphy at no cost and have a taste of our Arabic ice cream. Various items will be available for sale, such as pashmina shawls, accessories, jewelry, Mexican food, Indian food, cosmetics, cookies, handbags, traditional Kuwaiti - style dresses and many more. For more information please contact 2523105/6 or 97228860.

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

Open House for Indian Citizens

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

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.

Waist Watchers

Royal Thai Embassy

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

Dilbert

The Royal Thai Embassy in Kuwait wishes to invite Kuwaiti companies that deal business with Thai companies or those agencies of Thai commercial companies to visit the Embassy’s Commercial Office to register their relevant information to be part of the embassy’s business and trade database. The Royal Thai Embassy is located in Jabriya, Block 6, Street 8, Villa No. 1, Telephone No. 25317530 -25317531, Ext: 14.

Nancy

Horoscopes Aries: March 21 - April 19

Combine today’s grounding force with a bit of emotional intensity from your heart to create a powerful combination of spirit that’ll make an impact on whatever you try to contact, Aries. The key is to not take yourself too seriously. If you do, there might be incidents that give you a thump on the head reminding that you’re just as human. Taurus: April 20 - May 20

Your lighthearted social demeanor could find a hard time fitting in with the general mood of the crowd today, Taurus. You might find you’re better off locating a quiet place and retreating from the group for a little while. Read a good book or magazine. Plan for the days ahead and let your mind prepare for the things you have in store. Gemini: May 21- June 21

You should be able to put on your famous smile this morning and keep it on all day, Gemini. Advertise your beautiful soul to the world. If other people are sad, it’s fine to sympathize, but don’t bear their ailments. Keep up a shield to protect yourself from this energy. Also keep a window open so other people can see you from the inside.

Cancer: June 22 - July 22

Chances are that there will be an emotional bite to the day that might put something of a hostile tone on anything you encounter, Cancer. The key is to not get so fixed in your ways that you turn away from new experiences. You’ll find that interaction with others is exactly what’s needed in order to keep things in balance. Have a nice day. Leo: July 23 - August 22

Your mood should be quite good today, Leo, and you’ll be well supported by people around you. The key is to bring intense feelings to the table as you experience them. You’ll find that other people share similar emotions at this time. The combination of energies between you and those close to you is just magical. Attend special events. Virgo: August 23 - September 22

Remember that it’s OK to have a little downtime, Virgo. Don’t feel like you have to always be up on stage. Take some time to be mellow. Today is one of those intense days in which you’re overpowered by energy. Don’t resist this feeling. Sink into your emotions and experience them for the power that they bring to your overall psyche.

Libra: September 23 - October 22

This is your day to shine, Libra. Everyone else may be squirming under the prevailing energy of the day, but you should be perfectly equipped to deal with any events that come your way. Despite the intense fluctuations in your general mood; things are on an upswing. Issues come around your way. The hard work you’ve put in will pay off. Scorpio: October 23 - November 21

Give thanks to the people who are most precious to you, Scorpio. You will find that words cut to the core issues much more easily. Stabilize your strong emotions and use them as fuel for you endeavors. The key is to remember those who have helped you along the way. Everyone is sensitive; so treat them just as much. Just have fun! Sagittarius: November 22 - December 21

Connect with the stabilizing force of the day, Sagittarius. It’s important for you to keep at least one foot on the ground, as powerful and intense emotions are likely to try to take over the scene. This is a good time to do things with passion. Don’t hold back and give it your all or nothing. There is no room for any half-hearted attempts.

Capricorn: December 22 - January 19

Your strong opinions will come into conflict with strong emotions today, Capricorn. Beware that fountains of intensity are likely to spring as if you are a bottomless well. You might need to pay less attention to your logic and concentrate on your heart. It could be hard to reason with people. If you don’t know what you say just don’t say it. Aquarius: January 20 - February 18

Realize that you’re someone unique and special, Aquarius. There is a rather distinct intensity to the day that might cause others to be on edge. Don’t be disrupted if you find people freaking out in your world. The good news is that you should be able to handle this intense emotional blast well. Emotions are your forte; handle them well! Pisces: February 19 - March 20

The intensity of the day could work for you in one of two ways, Pisces.You can be so depressed by intense emotions that well up or take this incredible intensity and put it to good use. Just realize that any action you take is going to be highly charged with feelings. Likewise, others will be extra sensitive about any move that you make now.


ALWATAN DAILY

SPORTS

tuesDAY, may 22, 2012

19

Tennis

Nadal dominates Djokovic to win Rome Masters ROME: Rafael Nadal won his sixth Rome Masters title in a rain-postponed final against Novak Djokovic here on Monday, defeating the world number one 7-5, 6-3. It was sweet revenge for a straight sets loss to the Serb in last year’s final and the win means that he will move back ahead of Roger Federer at number two in the world rankings. It was also the perfect preparation for the defense of his French Open title with the tournament due to get under way in Paris on Sunday and takes his career head-to-head with his rival to 18-14 in his own favor. It meant that Nadal won claycourt titles in Monte Carlo, Barcelona and Rome with his only loss coming in Madrid where he went down to compatriot Fernando Verdasco. Djokovic failed to win a claycourt title as he prepares to go into Roland Garros where he is aiming to make it four Grand Slam titles in a row after winning Wimbledon and the US Open crowns last year and the Australian Open early this year. In a final held over from Sunday because of rain, Nadal immediately pounded out two break points on the opening Djokovic serve, but the Serb saved both with powerful backhands. There were two more break points for the Spaniard in the fifth game as Djokovic made a mess of an overhead smash and Nadal converted the second of these, easily running down a poorly-executed Djokovic drop-shot. But just as Nadal seemed to be taking command, Djokovic earned his first break point of

the match in the following game which he took as an out-of-position Nadal flopped a forehand into the net. And two games later he had Nadal backpedaling again with a series of punishing drives from the baseline only for a bad line-call to rob him of a first set point. Nadal leveled at 5-5 and then, on the back of some stupendous defending, he grabbed a second break of serve and made good on it by outgunning Djokovic in a thrilling exchange of shots at the net. Still riled by the line-call, Djokovic smashed his racquet at the exchange of ends and was warned by the umpire before Nadal comfortably served out to pocket the first set in 76 minutes. Nadal took up in the second set where he had left off in the first and he had the Serb scrambling from side to side in a failed attempt to prevent the five-times champion from grabbing an early break. Djokovic had an immediate chance to get back on level terms in the set but he failed to capitalize on four break points in the next game allowing Nadal to move 2-0 ahead. The defending champion stopped the rot by holding serve to make it 2-1 and he had two break-back opportunities in the next game only to squander both with unforced errors. He was made to pay the price for those missed opportunities as Nadal slammed shut the door on his following serves and then broke again to become the first player to win six Rome titles. -AFP

Rafael Nadal of Spain poses with the trophy after winning his men’s singles final match against Novak Djokovic (right) of Serbia, May 21, 2012. (Reuters)

Basketball

Spurs close out Clippers to sweep series 4-0 LOS ANGELES: The San Antonio Spurs are on to the Western Conference finals, along with their 18-game winning streak and 8-0 mark in the playoffs. They rallied in the closing minutes behind Tim Duncan, Tony Parker and Manu Ginobili to beat the Los Angeles Clippers 102-99 on Sunday night and wrap up the second-round series 4-0. Duncan scored 21 points, Parker added 17, Danny Green and Gary Neal had 14 each, and Ginobili and Thiago Splitter had 11 each as the Spurs overcame a sixpoint deficit in the fourth quarter after leading by 12 earlier in the game. Their playoff winning streak is tied for third-best in franchise history. Not that either streak is a topic among the team. The Spurs’ experience and guile was foremost in withstanding the Clippers’ second-half pressure. San Antonio trailed much of the fourth until tying the game twice in the final 3:32. The 30something trio of Duncan, Parker and Ginobili combined to score nine of the team’s final 10 points. Duncan’s hook put the Spurs in front 96-94 before Paul tossed up a one-handed shot that rose to the top of the backboard before dropping straight in as he crashed into a baseline photographer. He made the free throw to put the Clippers ahead by one. Parker scored consecutive baskets and the Spurs regained the lead, 100-97, with 1:47 left. Paul’s two free throws drew the Clippers within one. After a timeout, Paul drove the basket and lost the ball. He fouled Green, who made the first and missed the second to keep the Spurs ahead for good.

James, Wade combine for 70 in Heat win over Pacers

San Antonio Spurs point guard Tony Parker (right) gets past Los Angeles Clippers power forward Blake Griffin to score during Game 4 of their NBA Western Conference semifinal playoff basketball game in Los Angeles, California, May 20, 2012. (Reuters)

DeAndre Jordan added 10 points. Paul had best performance of the series after sub-par efforts in the first two games. He’d been playing with a strained right hip, while Griffin had a sprained right knee, an injured left hip and got stitches for a cut lip in the first half. Neither team led by more than five points in the third period. Duncan had 10 points for the Spurs. Bledsoe’s putback slam dunk gave the Clippers 75-74 lead going into the fourth.

The Spurs stretched their lead to 12 points with Duncan sitting out the opening 7 minutes of the second quarter. The Clippers closed on a 14-6 run to trail 51-47 at halftime. Paul got it started with a 19-foot jumper and ended it with a 3-pointer. Early in the spurt, Griffin ran into Ginobili’s shoulder, fell and one of his top teeth went through his lip. He left the court with 2:20 remaining to get two stitches on the inside and outside of his lip. -AP

INDIANAPOLIS: As the clock ticked down to a precious few seconds, LeBron James threw his right arm around Dwyane Wade’s neck and pulled his teammate close. This was their moment. Together. The MVP and his superstar sidekick. Showing why he’s world’s best all-around player, James scored 40 points and Wade bounced back from an atrocious performance to add 30 as Miami, playing with desperation and without All-Star forward Chris Bosh, rallied for a 101-93 win over the Indiana Pacers on Sunday in the Eastern Conference semifinals. James was beyond a force. The Heat avoided falling into a 3-1 hole. According to Elias Sports Bureau, James is only the second player to post that stat line in a playoff game, joining Elgin Baylor who did it in 1961. After scoring just five points in Game 3, when he also had an ugly sideline confrontation with Spoelstra,Wade scored 22 points in the second half, making eight straight shots at one point. He added nine rebounds, six assists and ended speculation that he was seriously injured. In a breathtaking third quarter for the duo, James and Wade scored 14 points apiece to bring the Heat back from a 10-point deficit. They combined to score 38 consecutive points during a stretch bridging the third and fourth quarters. They were unstoppable. The Heat needed it, and head home for Tuesday’s Game 5 at American Airlines Arena. Game 6 will be back in Indiana on Thursday. Udonis Haslem, playing with a large bandage covering a nasty cut over his right eye that required nine stitches, added 14 points for Miami. Danny Granger scored 20 and Paul George 13 to lead the Pacers, who had the defending Eastern Conference champions on the ropes but couldn’t put them away. Center Roy Hibbert, so dominant at both ends in Game 3, had just 10 points and was in foul trouble in the second half. Indiana coach Frank Vogel second-guessed his decision to keep Hibbert and David West on the bench for a long stretch after halftime. But it was the Pacers’ inability to slow down Wade and James that was the difference. The underrated Pacers built a 10-point lead in the third quarter, and with their crowd roaring like engines

Cricket

Cook, Bell guide England home

LONDON: Alastair Cook and Ian Bell made composed fifties to guide England to a comfortable five-wicket win over West Indies in the first test at Lord’s on Monday.The hosts had crumbled to 57 for four chasing 191 for victory on a chilly morning but Cook and Bell steadied the ship with a fifth-wicket partnership of 132. Cook was out for 79 just before the end but Bell steered England home, clipping Marlon Samuels for four through mid-wicket to seal victory and finish on 63 not out. “There’s always a bit of pressure when you’re chasing a score but we always had faith the wicket was going to stay very flat,” England captainAndrew Strauss told a news conference. “It was an outstanding performance from Cook and Bell, they played in a very professional way and showed their class. “We had to work very hard for this victory and it certainly wasn’t a formality to wrap it up today.” After resuming on 10 for two, Jonathan Trott became Kemar Roach’s third victim of the innings when he nicked a rapid seaming delivery to Darren Sammy at slip before Kevin Pietersen edged a catch to wicketkeeper Denesh Ramdin trying to pull a short ball from Shannon Gabriel. That left West Indies scenting an unlikely victory against the world’s top-ranked team.The touring side have won only one of their last 18 tests in

LeBron James (center) of the Miami Heat drives between David West (left) and Danny Granger of the Indiana Pacers in Game Four of the Eastern Conference Semifinals, May 20, 2012. (AFP)

over at Indianapolis Motor Speedway, they were threatening to run away as they did in Game 3. Granger’s 3-pointer had given Indiana a 61-51 and the Pacers, outhustling the Heat to loose balls, appeared poised to take a commanding lead in the series. But that’s when James and Wade put on their jawdropping, tag-team spectacle, combining for all but two points in a 25-5 run that put Miami up 76-66. -AP

IPL set for exciting finale

England’s Alastair Cook (left) hits out watched by West Indies’ Darren Sammy (right) and Denesh Ramdin during the first cricket test match at Lord’s cricket ground in London May 21, 2012. (Reuters)

England and trailed the hosts by 155 runs on first innings but a battling 345 second time round kept them in the match. Cook and Bell displayed exemplary calmness in a tense atmosphere, however, rotating the strike neatly and hitting bad balls to the boundary to steer England to 131 for four at lunch. Cook got to his fifty just before the interval with a late cut for four off spinner Samuels, the lefthander reaching the milestone off 78 balls having hit eight boundaries. Bell passed fifty for the second time in the match midway through the afternoon

session and the pair strolled through the final overs picking up runs at will before Cook was caught at gully by Kirk Edwards off Sammy with just two runs needed. “We are quite pleased with the way we played, we took the game to the fifth day,” Sammy said. “There were good performances by some of our players when nobody gave us a chance. “We kept coming back and that shows a good team spirit.” The second test in the three-match series starts at Trent Bridge on Friday. -Reuters

NEW DELHI: The Indian Premier League heads for a thrilling climax this week when the play-offs take place to determine the champions of this season’s popular Twenty20 tournament. The fifth edition of the glitzy cash-rich event is already being hailed as the most exciting ever despite off-field troubles as packed houses watched enthralling cricket over the past six weeks. The final spot in the playoffs was decided in Sunday’s penultimate match of the 72-game league as defending champions Chennai Super Kings sneaked through while Royal Challengers Bangalore were stunned by unfancied Deccan Chargers. Table-toppers Delhi Daredevils will take on number two Kolkata Knight Riders in the first play-off in Pune on Tuesday, with the winner advancing to the May 27 final in Chennai. The Mumbai Indians and Chennai Super Kings, the third and fourth teams in the league, will face-off in Bangalore on Wednesday with the losers being knocked out of the race. The loser of the first play-off will then meet the winner of the second in Chennai on Friday to determine the second finalist. “The play-off system rewards consistency over seven weeks,” said IPL chairman Rajiv Shukla. “One bad day in the office does not ruin a team’s chances.” The

winner of Sunday’s title clash at the Chidambaram stadium in Chennai will pocket $2 million US dollars and the runner-up will get $1.5 million. The third-placed team will get a direct entry into the Champions League to be held in India in October between the top domestic Twenty20 clubs from around the world. Delhi Daredevils, led by Virender Sehwag and featuring Sri Lankan veteran Mahela Jaywardene and South African fast bowler Morne Morkel, have shown consistent form by winning 11 of their 16 league matches. But the Knight Riders will fancy their chances on a slow Pune wicket ideal for their West Indies spinner Sunil Narine, whose haul of 22 wickets this season is second only to Morkel’s tally of 25. “You can’t predict what will happen in a T20 game, but we have faith in ourselves,” said Knight Riders skipper Gautam Gambhir. “We want to win this one for the people of Kolkata.” Mumbai Indians, featuring the inspirational Sachin Tendulkar, bounced back after a shaky start to finish third and set up an intriguing clash against Dhoni’s Chennai Super Kings. “We must not waste the second life given to us,” said Dhoni. “We must execute our plans well because Mumbai will come hard at us.” -AFP


tuesday, may 22, 2012

SPORTS

Sports Editors Highlight ITALY: Seven-time Italian champions Torino regained their place in Serie A on Sunday after a three-year absence as a 2-0 win over Modena confirmed their promotion. Torino, who won their last title in 1976 and have been in the shadow of fellow Turin club Juventus since, will be joined in the top flight by Pescara, who secured promotion by winning 3-1 at Sampdoria later on Sunday. Pescara, coached by former Lazio and Roma coach Zdenek Zeman, last graced the Italian elite in the 1992-93 season. The other teams vying for promotion to the top tier are Sassuolo, Varese, Padova, Verona and Sampdoria; the latter two both former Italian champions. The top two go up directly, while the third to sixth-placed sides battle it out in play-offs for the final promotion place. -AFP

Football

Chelsea plans for future as European champion

Chelsea Football Cub fans celebrate in London, May 20, 2012, following their team’s Champions League victory in Munich. (AFP)

MUNICH: Chelsea can plan its future from an unexpected position of strength as champion of Europe following its dramatic upset of Bayern Munich. Roman Abramovich has the Champions League trophy he had craved since buying the club in 2003 and a place in next season’s competition, which is key to the team’s business plan and status among Europe’s elite teams. Now the Russian billionaire and his advisers must decide if Chelsea’s immediate future includes new contracts for inspirational interim coach Roberto di Matteo and star forward Didier Drogba. The 34-year-old Drogba staked an emphatic claim to extend his eight-year stay on Saturday with an 88th-minute header that made a one-sided match at 1-1. He then stroked the decisive penalty kick in the shootout at Bayern’s home stadium. Di Matteo could hardly do more during his three-month audition since being promoted from assistant following the firing of Andre Villas-Boas. He has the most coveted club trophy in world soccer as well as the FA Cup. “Roberto is certainly in the mix and he’s done a great job for us and he has to have serious consideration,” Chelsea chairman Bruce Buck said Sunday. “We’ve put the appointment aside for the last five to eight weeks. Now in the next few weeks we have to sit down, figure it out and do what’s best

for Chelsea.” The American official said chief executive Ron Gourlay will speak with Drogba’s agent this week. “There’s a number of things we’ve got to look at and we’ll review where we are and take it from there, but it’s a phenomenal turnaround really,” Gourlay said. Chelsea’s players were united in their praise for Drogba after another unlikely win to follow the elimination of Barcelona in the semifinals. “Of course, Didier is one of the best strikers in the world,” said Chelsea forward Juan Mata, whose opening penalty kick was saved in the 4-3 shootout win. “He is very important for us. He scored a really important goal, so he deserves everything.” Drogba’s financial demands would have been an expensive luxury had Chelsea lost and failed to qualify for next season’s Champions League. Chelsea earned about $77 million US dollars in prize money from competition organizer UEFA this season. Even a one-year exile in the secondtier Europa League would hit the club’s accounts as “financial fair play” rules limit wealthy owners’ ability to bail out clubs that spend heavily on transfers and salaries. Abramovich has subsidized total losses of more than $1.2 billion, but Chelsea must generate more income than has been possible at its 42,000-

Napoli win first trophy since Maradona era ROME: Napoli won their first major title since the Diego Maradona era, denied Serie A champions Juventus the double and handed their captain Alessandro Del Piero an unhappy end to 19 seasons at the club by beating the Turin side 2-0 in the Italian Cup final on Sunday. Edinson Cavani broke the deadlock with a penalty just after the hour and Marek Hamsik finished off a counter-attack as Napoli claimed their first trophy since the Maradona-inspired team won Serie A in 1989/90. Juventus had substitute Fabio Quagliarella sent off in the 89th minute for a full-blooded elbow in the face of Salvatore Aronica after only 17 minutes on the pitch. Although Juventus had completed their 38-match campaign in Serie A without losing, there was some debate over their 2-2 Italian Cup draw after extra time against AC Milan in their semi-final second leg. Milan claimed that, as they were winning 2-1 at the end of 90 minutes, that should count as a Juventus defeat. Del Piero, 37, was told earlier this season that his contract at Juventus would not be renewed and the talismanic forward was given a standing ovation when he was substituted midway through the second half. Juventus coach Antonio Conte kept to his regular cup line-up with Marco Storari in goal instead of Gianluigi Buffon and a

starting role for Del Piero, who has been used mainly as a substitute in Serie A. Napoli, who finished fifth and missed out on the Champions League by three points, were quickly on the attack as Hugo Campagnaro burst down the right and crossed for Juan Camilo Zuniga whose header was turned away by Marco Storari. Lavezzi shot wide on the counter-attack while a fierce effort from Zuniga was charged down by Leonardo Bonucci. Juventus had a penalty appeal turned down just before halftime when Claudio Marchisio claimed to have been felled by Aronica. Napoli continued to push forward after the break and won a penalty when Lavezzi was upended by Storari and Uruguay forward Cavani sent the Juve goalkeeper the wrong way from the penalty spot. Juventus, who had devoted much of their energy to protesting refereeing decisions, suddenly started playing and enjoyed their best spell of the match, forcing Morgan De Sanctis to make two excellent saves. The Napoli goalkeeper did well to punch away Bonucci’s volley then somehow saved Simone Pepe’s deflected shot with his feet. Napoli made the game safe when Goran Pandev broke from the halfway line and slipped the ball to Slovakia forward Hamsek who fired past Storari. -AFP

capacity Stamford Bridge stadium. Chelsea officials reportedly held recent meetings in Qatar to explore funding options. That follows a trail blazed by Barcelona, which signed a five-year shirt sponsorship deal with the spectacularly wealthy Gulf emirate. Abramovich’s admiration for Barcelona, on and off the field, hints at Chelsea’s next steps. He is said to covet the Spanish club’s former coach Pep Guardiola, who has left soccer after shaping the most admired team of modern times. Guardiola seems unlikely to be tempted back so soon, even with Chelsea entering the Champions League and FIFA’s Club World Cup for continental champions played in Japan in December. Bayern had 35 shots to Chelsea’s nine, and 20 corners to just one, which Chelsea used to great effect. Mata’s delivery was powered into the net by Drogba. It was a triumph in true Chelsea style, and could yet prove the end of an era. Buck said the club intends to appoint a permanent manager before a pre-season tour of the United States that starts against Seattle Sounders on July 18. Di Matteo spoke with Abramovich in Munich’s Allianz Arena but did not reveal details of the conversation. “He looked very happy,” the 41-yearold coach said. “Whatever the future holds for me I’d be happy.Whatever the club decides, I’ll respect it.” -Reuters

Torres, Mata called up to Spain’s provisional squad MADRID: Chelsea duo Fernando Torres and Juan Mata were called up to Spain’s provisional squad for Euro 2012 on Monday, two days after helping their club defeat Bayern Munich to win the Champions League final. Striker Torres, who scored the winner in the Euro 2008 final, and winger Mata will join up with their team mates in St Gallen, Switzerland on May 25 where the squad are due to play a warm up match, the Spanish football federation said in a

statement. Coach Vicente del Bosque named a provisional 21-man squad last week, but due to the Champions League final and King’s Cup final, between Barcelona and Athletic Bilbao on Friday, has called up a number of fringe players to make up numbers. Del Bosque will name his final list to defend their European title on May 27, when Torres will find out whether he has made the cut after an inconsistent season at Stamford Bridge.

Torres said on Sunday that he had had the worst moments of his career with Chelsea this season and needed clarity about his future role with the London club. Torres told Spanish sports daily As, he was bitterly disappointed at being left out of the starting lineup for the Champions League final and said if it had not been for the support of the fans during a difficult campaign he would have “thrown in the towel”. -Reuters

Even the rich have to wait, says PSG coach PARIS: Paris St Germain’s wealthy Qatari owners have discovered that building success can often be a slow process after failing to clinch a coveted Ligue 1 title despite operating with a budget more than four times bigger than their rivals. PSG finished the French season in second place

Carlo Ancelotti, coach of French Ligue 1 soccer team Paris St-Germain, speaks during a news conference at the Camp des Loges training center, May 21, 2012. (AFP)

on Sunday, three points behind unheralded Montpellier who had a 33 million euro ($41.98 million) budget - tiny compared to the Parisians’ 140 million outlay. That budget will increase to 200 million Euros next season, but for coach Carlo Ancelotti, time

not money, is the key ingredient for success. “There were a lot of changes, players and coach. It is not easy to shape a team’s identity,” the Italian told a news conference on Monday. “We must look for continuity. There will be no revolution,” added Ancelotti, who took over from Antoine Kombouare last December when PSG were top of the table. “Montpellier won the title thanks to a style of football they had been building for years.” Ancelotti’s style shaping has already begun and he managed to turn Nene, Jeremy Menez and Javier Pastore into a lethal attacking unit rather than a trio of individuals. The team still needs a striker with a killer instinct but Ancelotti said there will be far fewer arrivals in this close season compared to last. “We still have time to talk about it, to find the right solution,” he said. “Ideally we would need three players: a defender, a midfielder and a striker.” Rumors in local media have linked PSG with the Real Madrid duo Gonzalo Higuain and Kaka but the Italian, who worked with Kaka when winning the 2007 Champions League with AC Milan, would not be drawn into speculation. “The names are not important but we need players who will fit into the team, technically and tactically,” he said, also hinting strikers Guillaume Hoarau and Kevin Gameiro would stay at the club despite spending much of their time under Ancelotti on the bench. -Reuters

Napoli’ s captain Paolo Cannavaro celebrates winning the Italian Cup soccer final after beating Juventus 2 - 0 at the Olympic Stadium in Rome, May 20, 2012. (AP)

My time at United is running out, says Berbatov

SOFIA: Striker Dimitar Berbatov wants to leave Manchester United because he feels he has fallen out of favor with manager Alex Ferguson. “My time at Manchester United is running out,” the 31-year-old Bulgarian told bTV on Sunday. “I no longer feel like a valuable part of this team.” The Premier League club took up an extra year’s option on the former Bulgaria captain’s contract in March despite him slipping down the pecking order at Old Trafford. “I think I did well in the few opportunities that I received,” he said. “But I am a little frustrated by the way this happened, I do not think I deserved it.” Berbatov, who is Bulgaria’s all-time leading scorer with 48 goals, joined United from Tottenham Hotspur in 2008 for 30.7 million pounds. “I’ve talked 10 times or even more with the manager and he always told me there would be a place for me in the team. But after that I continued to stay on the bench,” he said. “But I have dignity and I stopped going to such meetings, it is clear that I’m leaving United. It’s obvious that I have to leave. I’m looking for a new place now, I know I can still play at the highest level.” Berbatov has been linked in the media with several clubs from Italy, Germany, France and Turkey, but he said he would not join United’s city rivals Manchester City. “I would never join Man City, I am a loyal person after all,” he said. “I had the opportunity to sign for City in the past, but I chose United.” -Reuters

May 22, 2012  

Al Watan Daily - Kuwait