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FRIDAY, MAY 25, 2012

@alwatandaily

Issue No. 1445

20 PAGES

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150 Fils with IHT

Finance Minister submits his resignation

Staff Writers & Agencies

KUWAIT: Deputy Prime Minister and Minister of Finance Mustafa Al-Shamali tendered his resignation to parliament on Thursday, after the conclusion of the interpellation session filed against him and the completion of its discussion. Discussions on the interpellation filed by MPs Musallam Al-Barrak, Abdurrahman Al-Anjeri and Khaled Al-Tahous against Al-Shamali continued until late last evening, and ended with Parliament Speaker Ahmad Al-Saadoun announcing that ten MPs had come forward to file a no confidence motion in the finance minister. The no-confidence motion was scheduled to be submitted June 3, at which time the issue of voting would be discussed. The request was filed by MPs Mubarak Al-Waalan, Al-Saifi Al-Saifi, Khaled Shakheyer, Naif Al-Merdas, Riyadh AlAdsani, Obaid Al-Mutairi, Osama Al-Munawer, Ahmad Mutee, Saad Al-Khanfour and Adel Al-Damkhi. Parliamentary sources spoke of a document carrying the signatures of 33 MPs, which was apparently aimed at proving the availability of enough votes to remove

A general view of the parliamentary session, during which the quizzing of Minister of Finance Mustafa Al-Shamali took place, on Thursday, May 24, 2012. (Al Watan)

In this photo Minister of Finance Mustafa Al-Shamali is seen taking the podium during his questioning session at Parliament, on Thursday, May 24, 2012. (Al Watan)

the minister from office, which requires 25 votes, under the Constitution, in the event that the minister does not resign. Kuwaiti opposition MPs accused the finance minister on Thursday of being re-

in a local company suspected of breaking the international embargo on Iran over its controversial nuclear program. The company has also helped the Lebanese Shiite militia Hezbollah to

Visibility today expected to be less than 500 meters

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‘Employees who worked for 35 years at ministry to retire gradually’ Hamed Al-Sayyed Staff Writer

KUWAIT: Minister of Social Affairs and Labor Ahmad Al-Rujaib announced that the ministry will refer employees who have been working for 35 years to retirement, before referring other employees who have been working for 30 years to retirement gradually. During the first phase, unproductive employees and those who are not committed to their work will be referred to retirement first, then all employees who have been working for 30 years. Al-Rujaib mentioned that the elections of cooperative societies union will begin on June 10, and that there were reelections at cooperative societies that are managed by ministry employees. He asserted that it is wrong to continue adopting the policy that allows the Ministry of Social Affairs and Labor to manage cooperative societies. He went on to demonstrate the achievements made by the ministry during the past three months, such as applying the system that allows employees to handle all tasks. He explained that this system has simplified procedures for employers and the public. He also revealed that the ministry is planning to setup centers to service citizens, which is the system followed by the Ministry More on 2 of Interior.

Norway separates Church and state

OSLO: Norway, which is one of few developed countries to still have a state religion, passed a final hurdle Thursday to separate the Protestant Lutheran Church from the state, parliament said. The move, which requires changes to Norway’s constitution, was approved by parliament a second time Thursday, in what was a formality after lawmakers voted through with overwhelming support on Monday, with 161 votes in favor and just three opposing votes. When parliamentarians were asked to confirm that result on Thursday, “no one was opposed,” parliament spokesman Torodd Noreng told AFP, pointing out that this meant the initial vote was confirmed and parliament would begin making the necessary changes to the constitution. The change will officially come into effect on June 15, Noreng said. “The Evangelical Lutheran religion will no longer be the state’s official reli-

gion,” parliament wrote in a statement, pointing out that the church would receive public financing “on par with other religious and belief-based societies.” It stressed though that “the Norwegian Church will continue to have a special basis in the constitution and the state will be built upon ‘our Christian and humanistic heritage’.” The Norwegian Church, which supported the change, counts nearly four million of Norway’s 4.7 million inhabitants as members. In practice, the change will give the Church the authority to name its own bishops and deans, without having to bow to the government’s final say on such issues, as the situation stands today. The current requirement for at least half of all government ministers to be members of the Church will also be scrapped, and even the minister of church affairs will no longer need to belong to the church. -AFP

sponsible for wide-ranging violations that are estimated to have cost the Gulf state billions of dollars. They also charged that the state-run pension fund, headed by him, is a partner

Troops shell Rastan, 13 killed across Syria

CAPITALS: Syrian regime forces pounded the rebel-held town of Rastan in central Homs province on Thursday, killing three civilians, as four people were “summarily executed” in a province bordering Turkey, a monitoring group said. The Syrian Observatory for Human Rights said a total of at least 14 people were killed across the country, including the four executed in Idlib province of northwest Syria. Elsewhere in the violence-swept country, four civilians were summarily executed in a field near Basamis town in

the province of Idlib. “Eight civilians were killed in a field near Basamis this morning, including four who were detained from their homes and summarily executed,” according to the Britain-based Observatory. “The Observatory strongly condemns the summary execution of the four people, in contravention of international treaties signed by the Syrian authorities,” it said in a statement. “The Syrian security and military authorities do not have the right to summarily execute people, even if they are fighters,” it said. More on 4

Nearly 700 arrested in Canada student protests

MONTREAL: Nearly 700 people were arrested overnight in rowdy demonstrations in Montreal and Quebec over a planned hike in student tuition fees with rocks being hurled at police, a spokesman said Thursday. Police in Montreal had said the unsanctioned protest would be tolerated if there was no trouble but after some unruly behavior around midnight they moved in and arrested 518 demonstrators. Another 170 people were detained in Quebec. All were issued with more than a 600 Canadian dollar fine and released on Thursday morning, the police spokesman said. Several thousand demonstrators had poured into Montreal’s central square late Wednesday for the rally, defying a law passed last week requiring organizers to notify authorities eight hours ahead of

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Climate scientists say warming could exceed 3.5 C

global temperature rise could exceed the dangerous 3.5 Celsius (6.3 Fahrenheit) warming they had flagged only six months ago. Marion Vieweg, a policy researcher with German firm Climate Analytics, told AFP the 3.5 Celsius (6.3 Fahrenheit) estimate had been based on the assumption that all countries will meet their pledges, in themselves inadequate, to reduce greenhouse-gas emissions. More on 15

Polish union protests against retirement at 67

Firefighters try to extinguish a huge fire spreading at the Moncef Bey souk (market) on May 24, 2012 in Tunis. A huge fire was raging in Tunis’s Moncef Bey market on Thursday, causing damage to dozens of shops, according to an AFP photographer on the scene. (AFP)

WARSAW: Polish union members took to the streets of the capital Thursday in the latest protests against a new law that will gradually raise the retirement age to 67. Under legislation pushed through by Prime Minister Donald Tusk’s centrist government, the current retirement ages of 60 for women and 65 for men will gradually increase to 67 by 2020 for men, and 2040 for women. The reform has been lambasted by unions and opposition parties on the right and left but the government insists the move is key to keeping the pension system solvent given the ex-communist EU nation’s low birth rate and ageing population.

CONTINUED ON PAGE 2

Egypt election body estimates 50 percent turnout

CAIRO: Egypt’s election commission on Thursday estimated that around 50 percent of eligible voters participated in the first presidential poll since a popular uprising ousted Hosni Mubarak. “Indications show that the number of ballots (represent) almost 50 percent of those eligible to vote,” said election commission chief Faruq Sultan, quoted by the official MENA news agency. Sultan spoke just hours before polling stations were to close on the second and final day of voting in the landmark election. Around 50 million eligible voters were

choosing among 12 candidates, with the frontrunners divided between Islamists who say they will champion the uprising’s goals and Mubarak-era ministers. Pollsters say the large number of voters undecided among candidates reflecting radically different trends and the novelty of a free vote made the election almost impossible to call. The election seals a tumultuous military-led transition from autocratic rule marked by political upheaval and bloodshed, but which also witnessed democratic parliamentary elections that saw Islamist groups score a crushing victory. -AFP

public demonstrations. Of those arrested in Montreal, 506 were held for unlawful assembly but among the other 12 detentions one person was held for “armed aggression,” two others for assaulting police, and one more was detained for wearing a mask. Protesters said they were handcuffed and their arms held behind their back, local media reported. Demonstrations have raged in Montreal since mid-February over a plan by provincial Premier Jean Charest to raise tuition fees at Quebec universities by 82 percent to rein in a budget deficit. Some of the demonstrations have turned violent, with store fronts smashed. The conflict escalated on Sunday with more than 300 overnight arrests after the passing of the new public assembly law. -AFP

Dow announces $2.16 billion award in K-Dow arbitration BONN, Germany: Climate researchers said Thursday the planet could warm by more than 3.5 degrees Celsius (6.3 degrees Fahrenheit), boosting the risk of drought, flood and rising seas. The UN’s target is a 2 Celsius (3.6 degree Fahrenheit) limit on warming from pre-industrial levels for manageable climate change. In a report issued on the penultimate day of new UN talks in Bonn, scientists said Earth’s average

buy arms, MP Abdulrahman Al-Anjeri charged during a parliamentary grilling of the minister. MP Mussallam Al-Barrak charged the minister of violating the law in the pro-

cess of awarding Kuwait’s first Independent Water and Power Project (IWPP) at Al-Zour North, 100 kilometers (62 miles) south of Kuwait City. A consortium of Japan’s Sumitomo Corp, International Power-GDF SUEZ and a Kuwaiti construction company has been named preferred bidder for the 2.5 billion US dollar (2 billion euro) joint gasfired combined cycle power and desalination plant. Al-Barrak called for scrapping the awarding process and for adopting a public auction for local and international firms. The minister categorically denied the allegations claiming that they were part of settling personal and political scores. Al-Barrak also held the minister and the government responsible of squandering around $20 billion from foreign companies under an offset program that requires the firms to reinvest 35 percent of their contracts in Kuwait. Al-Barrak and MP Khaled Al-Tahous accused the ministry of being responsible for squandering billions of dollars of public funds by leasing state land at a very cheap price to “influential businessmen.”

Tusk’s governing party has pointed to the risk of “a dramatic labor shortage in Poland expected around 2040.” It has also compared the reform to similar moves in fellow EU states Denmark, Germany, Spain and the Netherlands which are currently phasing-in 67 as their official retirement age. Already adopted by both chambers of the Polish parliament, the proposed reform still requires approval from of President Bronislaw Komorowski to take effect. The law would still allow early retirement for women at 62 and men at 65, but with the trade-off of a pension reduced by half. Women would also still need to accumulate 35 years of work, and men 40, to opt for the early retirement. -AFP

Yemeni guard of honor carry the coffins of soldiers who were killed in a suicide bombing earlier in the week during their funeral procession in Sanaa on May 24, 2012. (AFP)

Pakistan speaker refuses to disqualify PM ISLAMABAD: The speaker of Pakistan’s national assembly on Thursday quashed efforts to disqualify Prime Minister Yousuf Raza Gilani over a court conviction. Gilani was found guilty of contempt by the Supreme Court last month over his refusal to ask Swiss authorities to re-open corruption cases against President Asif Ali Zardari. Under Pakistan’s constitution, anyone convicted of defaming or ridiculing the judiciary is barred from being an MP. The speaker has to refer any disqualification process to the election commission. “I am of the view that the charges... are not relatable to the grounds mentioned (in the constitution),” said Fehmida Mirza, who is a member of Zardari and Gilani’s Pakistan People’s Party. “No question of disqualification of Syed Yousaf Raza Gilani from being a member arises,” she added. The Gilani case has been highly politically charged, with members of the government accusing judges of over-stepping their reach and of trying to bring down the prime minister and president before the administration becomes the first in Pakistan to complete a term in office. Prime minister Gilani on Thursday called the speaker’s decision a “victory for democracy”. “Today, for the first time in the history of Pakistan, democracy has won and the speaker ruled in my favour,” he told a ceremony in Islamabad. Chaudhry Nisar Ali Khan, opposition leader in the lower house from the main opposition party Pakistan Muslim League-N, rejected the decision and told reporters that the speaker “has not done justice,”. The allegations against Zardari date back to the 1990s, when he and his late wife, former premier Benazir Bhutto, are suspected of using Swiss bank accounts to launder about 12 million US dollars allegedly paid in bribes by companies seeking customs inspection contracts. The Swiss shelved the cases in 2008 when Zardari became president. Gilani insists the president has full immunity, but in 2009 the Supreme Court overturned an amnesty that had frozen investigations into the president and other politicians. -AFP

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ALWATAN DAILY

kuwait

friDAY, may 25, 2012

‘Employees who worked for 35 years at ministry to retire gradually’ Hamed Al-Sayyed Staff Writer

KUWAIT: Minister of Social Affairs and Labor Ahmad Al-Rujaib announced that the ministry will refer employees who have been working for 35 years to retirement, before referring other employees who have been working for 30 years to retirement gradually. During the first phase, unproductive employees and those who are not committed to their work will be referred to retirement first, then all employees who have been working for 30 years. Al-Rujaib mentioned that the elections of cooperative societies union will begin on June 10th, and that there were reelections at cooperative societies that are managed by ministry employees. He asserted that it is wrong to continue

adopting the policy that allows the Ministry of Social Affairs and Labor to manage cooperative societies. He went on to demonstrate the achievements made by the ministry during the past three months, such as applying the system that allows employees to handle all tasks. He explained that this system has simplified procedures for employers and the public. He also revealed that the ministry is planning to setup centers to service citizens, which is the system followed by the Ministry of Interior. Moreover, Al-Rujaib revealed the formation of a youth committee from the ministry’s employees, in order to develop the performance of the ministry. This committee will receive suggestions of employees and will work on applying them to develop the ministry’s performance. He noted that a shelter for the elders will be setup after donations were made by a charitable person,

Doctors accuse Medical society of violations Jamal Al-Rajehi Staff Writer

KUWAIT: In a symposium held Thursday at the diwaniya of Dr. Sultan Al-Mutairi in the presence of a number of lawmakers and doctors, under the theme “Rescuing the Medical Society”, the members of the Kuwait Medical Society expressed strong support to their colleague the Minister of Health Dr. Ali Al-Obaidi, who was sharply criticized by Vice Chairman of Kuwait Medical Society, who demanded firing the minister. Eye Surgery Consultant and Chairman of Eye Surgeons Association Dr. Sultan Al-Mutairi said that the elections of the society were held secretly last year and witnessed several violations. He accused the Ministry of Social Affairs and Labor was implicated. He added that the society lost a lot of its saving, adding that 15 thousand doctors are registered in the society, which means that it collects 200 thousand dinars per year, in addition to the other revenues such as the deposits and financial support provided by the Ministry of Social Affairs and labor, which makes the revenues of the society reach half million dinars. Dr. Al-Mutairi said that the savings of the society began to decline and reached 150 thousand

dinars this year, which were spent by the board, despite the fact that three members submitted their resignations. He said that there are several financial, technical and administrative violations as proven by the previous general assembly meeting on May 15, where the doctors rejected the performance of the society when they took votes on the financial and administrative report. For his part, MP Mubarak Al-Walaan appealed to the Minister of Social Affairs and Labor to take legal action and hold all those found wanting accountable, whether in the society or any other public welfare society. He vowed to discuss the issue with the Minister of Social Affairs and Labor in the Parliament. For his part, Head of Urology at Al-Sabah Hospital and former Secretary of the Medical Society Dr. Mubarak Al-Kandari said that the financial and administrative report wasn’t approved during the meeting of the general assembly on May 15, adding that a report was sent to the Minister of Social Affairs and Labor to take necessary procedures in this regard. He condemned the press statements made by the society Chairman in which he called for firing the Health Minister Dr. Al-Obaidi. He added that the society doesn’t seek to be involved in political conflicts, adding that the chairman does not represent the doctors.

Housing minister says to establish new residential projects

Finance Minister submits his resignation

and stated that this shelter will be unique in the Middle East. He went on to say that the ministry has setup a hotline to receive all complaints from citizens and employees (128), in order to reach solutions regarding those complaints. The ministry has also issued a decree that organizes group purchases from the Cooperative Societies Union, and formed a committee to discuss any abuse that orphans might face at the Social Care Sector, in order to refer those involved in such abuse to the Public Prosecution. He said that the Audit Bureau has been notified to audit charity funds at the ministry, and to refer any employee who is proven to be involved in any financial manipulations of those funds to the Public Prosecution. He remarked that some cooperative societies went off track, and that an independent authority must be established to bring them back on track.

Army Chief tells senior army officials to put capabilities at country service

Staff Writer

KUWAIT: The Army Chief of Staff Lieutenant General Khaled Al-Jarrah Al-Sabah affirmed the need for greater efforts and encouraged newly promoted officers to put all their capabilities and experience at the service of the country. The top army official made the comments during a ceremony held by the Army Staff Directorate during which a number of senior officers were decorated after being promoted from the rank of Lieutenant Colonel to Colonel in line with a decree issued by the Commander of the Armed Forces His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah. “I am pleased to join you in this celebration and extend to you the greetings and congratulations of the Deputy Prime Minister and Defense Minister Sheikh Ahmad Khaled Al-Sabah, hoping that the promotion will serve as an incentive for you toward greater efforts,” the Army Chief stated. The occasion was attended by the Deputy Army Chief Lieutenant General Abdurrahman Al-Othman, members of the Military Defense Council and top army officials.

Member of Parliament Musallam Al-Barrak speaking during Thursday’s Parliament session, May 24, 2012. (Al Watan) Continued from page 1

Over the course of the session, MP Khaled Al-Tahous sharply criticized the finance minister saying, “Tonight, your political life will come to an end, and we will refer to the tribunal for the trial of minister.” Al-Tahous went on to allege that certain foreign embassies smuggle alcohol in the country through the Customs Department which falls under the purview of the minister whom he accused of being reluctant to counter this malpractice. Reacting to the allegations, the minister said that he had decided to face the interpellation to respond even though he is aware that no-confidence motion has been prepared in advance. “However, this will not prevent me from saying the truth, because I know the lies which are being made...Cooperation cannot be achieved through yelling which does not build a nation either.” He added, “We need to have confidence in our institutions such as the Public Authority for Social Securities and the Kuwait Investment Authority.” Al-Shamali further indicated that the interpellation deviated from serving public interest to settling scores with the finance minister, and asserted that the interpellators have failed to prove their baseless claims and lies through the parliamentary investigatory panels. The grilling began after two days of bickering between the government and the opposition lawmakers who had filed two requests to quiz Al-Shamali, who has been finance minister for six years. The government boycotted parliamentary sessions for two days over the controversy, which was resolved when the opposition withdrew one of the requests. The grilling could lead to opposition MPs filing a no-confidence motion against the minister. Voting on the request will take place after eight days. The opposition needs the support of 25 MPs to vote the minister out of office and it has the backing of well over 30 in the 50-member house. Kuwait, OPEC’s third largest producer, has been rocked since 2006 by a series of political crises that led to the resignation of the cabinet several times and parliament being dissolved on four occasions.

Kuwaiti charities extend relief aid to displaced Syrians in camps in Turkey

Staff Writer & Agencies

CAPITALS: A delegation representing a number of Kuwaiti charitable organizations arrived here on Thursday to offer relief aid to displaced Syrians living in refugee camps in areas on the border between Syria and Turkey, a delegation spokesperson told Kuwait News Agency (KUNA). Numbering about 30 people, among them businessmen and journalists, the delegation prepared for Thursday’s arrival two weeks ago, said the spokesperson and the head of the relief team for the Syrian refugees at International Islamic Charitable Organization (IICO) Salah Al-Jarallah. He disclosed that IICO is preparing a new campaign for relieving the Syrian refugees in Turkey near the Syrian borders. He indicated, “This is the third campaign that IICO sends to support our Syrian brothers.”

He pointed out that the campaign includes a distinguished Kuwaiti relieving team in addition to many other charitable committees that participate in the campaign such as Rahma Mercy Committee which is a branch of Social Reforms Charitable Organization, Najat Charitable Organization and Abdullah Al-Nouri Charitable Organization. “Relief aid packages are currently waiting to be distributed to an initial 1500 Syrian refugee families living in camps,” said Al-Jarallah, noting that a similar number of packages will be distributed a little later. He said that a Kuwaiti school has been opened in the refugee camps for the benefit of the children in those camps. He added that the purpose of the visit by the Kuwaiti charities was to send a clear message to the displaced people in the camps that the Kuwaiti people were more than willing to lend them a helping hand and to support

them get over the daily grind in the camps. Furthermore, Al-Jarralah said that the campaign will focus on several activities including meetings with the Turkish and Syrian Charitable Organizations, the Turkish Red Crescent, the High Commission for Refugees` Affairs and World Health Organization (WHO). The members of the team will also visit wounded Syrian citizens. The team will participate in Fridays preaching ceremonies in which distinguished Kuwaiti preachers like the clerics Yousef AlSanad and Waleed Al-Tarrad will accompany the team to the refugee camps. The team will distribute some electric sets to refugees and foodstuffs such as dates besides to copies of the holy Quran. Al-Jarralah thanked IICO and all charitable organizations that contribute in submitting humanitarian services to the stricken Syrian refugees.

Nada Yafi: Twitter, facebook, SMS played role in uproar of Arab nations Mohammed Khaled Staff Writer

Children are seen partaking in a campaign called “I’m Waiting For a Home”, which was held on Tuesday, May 22, 2012. The signs read “We want 1,000 homes to be allocated every month”. The minister of housing said that he will do his utmost to resolve the issue. (Al Watan) Abdullah Al-Shimmery Staff Writer

KUWAIT: The Minister of Housing and the Minister of State for National Assembly Affairs Shuaib Al-Muwaizri declared that he will do his utmost to reach to the most appropriate solutions for the different housing problems. Al-Muwaizri said that he will seek issuing a law of establishing new residential areas in Khairan and Metla. He released his statement during a meeting two days ago with a number of Kuwaiti citizens who called for speeding up the process of distributing houses. The meeting was also attended by the Acting General Manager of Public Authority for Housing Welfare Subhi Al-Mulla and many other officials of the authority. During the meeting, the minister explained the significance of forming a new residential area law as it will contribute in speeding up the projects of Khairan residen-

tial area, which will set aside 35,000 houses in addition to 20,000 houses in Metla area and 50,000 houses in other different residential projects. The minister added that the number of all houses and flats that residential projects will set aside are estimated at 100,000 therefore they will cover the current housing applications which reached to 90,000 applications. Meanwhile, a housing source unveiled that law no. 8/2008 stipulates setting aside 100,000 houses within three years, while law no. 50/2010 stipulated establishing 200,000 houses within the coming five years. However, some obstacles interrupted these projects, which include the lack of land for executing the projects by Kuwait Municipality, Kuwait Oil Company and Ministry of Electricity and Water. The minister is exerting hard efforts now to overcome all these obstacles in order to carry out the residential laws as soon as possible.

KUWAIT: The French Ambassador in Kuwait Nada Yafi stressed that advanced means of media and social networking sites have played a pivotal role in cementing democracy and underlining freedom of speech. She highlighted the importance of discussions and deliberations in strengthening communication and experiences concerning advanced means of media and its role in the uproar of Arab nations. Lecturer Eve Gonzalez stressed the importance of having advanced means of media evaluate the ‘Arab Spring’. However, he mentioned that this term is a negative and inaccurate term that is used by the American media. He explained that spring is short in the Arab world, but the developments of the ‘Arab Spring’ are still unfolding in some Arab countries. Regarding the political status in Kuwait, Gonzalez remarked that it is still unstable because of the conflict among some political powers, not to mention reports about insults made to Prophet Mohammad (PBUH) and his family. He added that those insults triggered a political controversy about laws regarding those who offend Allah, the prophets, or any religions. He went on to say that the media and social networking sites had a role in mobilizing the people, before eventually triggering the revolutions, which is what occurred in Tunisia and Egypt. He also said that SMS services have also played a critical role in triggering the revolution in Yemen.

The French Ambassador in Kuwait Nada Yafi during a press conference held at the Journalists Syndicate on Wednesday, March 23, 2012. (Al Watan)

However, he mentioned that some revolutions had negative aftermaths, such as the Tunisian and Egyptian revolutions; but in Syria and Bahrain, Twitter and Facebook did not cause change. He noted that the political situation differs from one country to the other. Political expert and lecturer Fateeha Dazi stressed the importance of highlighting the posi-

tive role of social networking sites in triggering Arab revolutions. She went on to say that such site have assisted in toppling dictatorships in the Arab world. Strategic Affairs Expert Nada Al-Mutawwa said that advanced technology played a role in coordinating the efforts of youths and political currents to topple tyrant leaders.

ALWATAN DAILY

KUWAIT

fridAY, may 25, 2012

Documents prove theft by government body: Al-Mudaf

Municipal committee recommends keeping ban on meat imports

Shabib Al-Ajmi Staff Writer

KUWAIT: Chairperson of the Municipal Council’s fact finding committee, assigned to investigate illegal trade of the country’s sand of Darakil as well as the case of Rahyya fire, Ashwaq Al-Mudaf, confirmed that the Municipality referred the file to the Public Prosecution. She added that a decision regarding the investigation of the Rahyya’s fire was deferred until after issuing the final report by the committee, which was formed by the Minister of State for Municipal Affairs Abdulaziz Al-Ibrahim to discover the causes of the fire. During the meeting of the committee Thursday, Al-Mudaf expressed regret over the fact that all documents presented showed that the thefts were made by a government body. She hailed the cooperation of the Municipality, which filed a complaint at the police station and referred the file to the Public Prosecution. But she expressed dissatisfaction with the Municipality Director and Head of Legal Affairs for not attending the meetings of the committee. Al-Mudaf explained that there is an agreement between the executive apparatus and the Municipal Council on referring the file of those who stole sand to the Public Prosecution, especially since there are documents received by the committee which need to be included in the case. She added “If the minister refused to do so, the committee would submit the documents to the Public Prosecutor. The Municipal Council does not have the authority to file a complaint at the Public Prosecutor but the members will file the complaint as citizens”. Rapporteur of the committee Manei Al-Ajmi said that the committee discussed on Thursday the issue of stealing sand form Abdullah Port, and was surprised when it discovered that the executive apparatus referred the file to the Public Prosecution. He valued the cooperation of the executive apparatus on this file, confirming that Municipal Council Members will follow the steps of the

FILE - undated picture obtained from online shows an aeria l view of Abdullah Port in Kuwait. Documents revealed that there has been illegal trade of the country’s sand in that particular area.

executive apparatus and will submit the files possessed by the Municipal Council to the executive apparatus to be attached to the file. Commenting on the statement made by an official at the Demolition Committee in which he denied the statements made by the Municipal Council Members, adding that he would file a complaint against them. Al-Ajmi said

that any citizen has the right to defend himself. He added that if the officials filed a case, they would submit the documents in their possession which prove that the Demolition Committee made violations. Al-Ajmi praised Al Watan for raising the issue, which urged the executive apparatus to file a complaint to the Public Prosecutor to prove the robbery.

PIFFS policies behind its hefty losses: MP Al-Anjari KUWAIT: “The rash and irresponsible policies adopted by the Public Institution for Social Security (PIFSS) are behind the hefty losses that have been accumulating over a long period of time,” stated MP Abdulrahman Al-Anjari before the National Assembly during the discussion of the interpellation he co-presented with MPs Khaled Al-Tahous and Musallam Al-Barrak against Deputy Prime Minister and Finance Minister Mustafa AlShamali in his official capacity, Thursday. Al-Anjari said, “Though these policies may have been introduced before Al-Shamali’s time, but the magnitude of the losses make it imperative he be questioned and made accountable, particularly since no effort had been made to hold top PIFFS officials accountable to-date.” In the world of investment, he remarked, “options” are not investment “tools” but rather “financial derivatives serving two functions; the first is speculation, which is a

practice of grave consequences, and the second is protection. The funds at PIFFS disposal are retirees’ funds and property of the People. As such, the funds should have been protected.” It was apparent that the options policies resulted in losses of 1.2 billion Kuwaiti dinars, with only two people with knowledge of the issue; PIFFS director general and the agent in the US.” “The Audit Bureau report had pointed out violations pertaining to the options mechanism and indicated great risk pertaining to buying bonds in the forward market, and also warned of the great risk involved in relying on one agent rather than a group of agents for all PIFFS options business,” the MP pointed out. Al-Anjari also recalled other failed PIFFS investments such as an investment of 90 percent of the capital of Global company, and as a result took the brunt of the

Visibility today expected to be less than 500 meters

parent company’s losses. “How could the company lose, to start with, when it is investing billions in insurance funds,” the MP exclaimed. He also recalled investment in the Port Fund along with Petrolink Holding and KGL company, knowing the companies were in debt, and criticized investing money in the Philippines where the investment environment is not safe. To make matters worse, he said, “US reports show that KGL was involved in helping Iran evade the embargo over its nuclear program,” referring to a report published by a local newspaper in November. “How is it that none of the ministers of finance could stop the PIFFS director general in his tracks?” and why is it that the finding of the Fatwa and Legislation Department that the “PIFFS internal audit unit is not under its director general’s jurisdiction” had been ignored, the minister exclaimed in censure. -KUNA

Kuwait discusses media ties with Bahrain, Palestine officials

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KUWAIT: The committee of food safety of Kuwait Municipality has recommended extension of a ban on imports of meat from the United States and Australia, pending further examination of the issue with other official authorities. The head of the commission, Mohammad Al-Otaibi, told Kuwait News Agency (KUNA) on Thursday that the committee had presented several recommendations, namely holding talks with visiting American officials to determine safety of the meat from the US and precautions that had been taken against the Mad Cow disease. The committee has examined a report, prepared by the representative of the Public Authority for Agricultural Affairs and Fish Resources (PAAFR), about the spread of this disease in the US. On basis of the report and information provided by a visiting American delegation, the commission recommended extending the ban to give time for further consultations with the other relevant authorities. Moreover, members of the commission reviewed a decision that had been taken by the Ministry of Commerce, imposing temporary ban on imports of poultry from Sri Lanka as a result of outbreak of the bird flu, marine shells from Hawaii, the US, bird meat from Australia and some brands of olive oil from Spain. Furthermore, it advised tasking representative of the Ministry of Commerce to follow up on the question of issuing a ministerial decision to prohibit the importation of poultry and by-products from Ireland. The commission also asked the representative of the ministry to notify it about any development regarding lifting the ban on some products from Japan. -KUNA

Ministry of Social Affairs launches e-gate project

KUWAIT: Kuwait’s Minister of Social Affairs and Labor Ret. Lt. General Ahmad Abdulatif Al-Rujaib inaugurated on Wednesday the launch of the e-gate project at Yarmuk Social Development Center, with his ministry at the core base of the project. Minister Al-Rujaib said during the opening ceremony that the current phase is aimed at transforming Kuwait into a crucial strategic financial and commercial center in the region, including being a main hub for investment led by the private sector to various economic activities solely to enhance competition and production quality. Al-Rujaib added that his ministry executed the project to ease routine government procedures and services in cooperation with the Civil Service Authority. “To improve and have such qualitative leap with regard to ministry services, a move toward an electronic network was necessary to obtain and approve information and data between various entities,” Al-Rujaib added. The minister also praised the role by the Civil Service Authority in terms of technical or administrative support to ensure the success of the project. -KUNA

Lebanon willing to reinforce ties with Kuwait: Suleiman

KUWAIT: Undersecretary of the Ministry of Information Sheikh Salman Sabah Al-Salem Al-Sabah met in his office on Thursday with a number of visitors with whom he discussed numerous issues of bilateral concern, a statement by the ministry said. Among the visitors was Bahrain’s ambassador to Kuwait Sheikh Khalifa Bin Hamad Al Khalifa with whom the undersecretary reviewed means of boosting media ties between the embassy of Bahrain and the Kuwaiti ministry of Information, said the statement. Sheikh Salman also met with a media delegation from Azerbaijan and another one representing the Palestinian Public Authority for Radio and Television, with whom the Kuwaiti official discussed cooperation in media affairs. -KUNA

Kuwait has witnessed a massive dust storm on Thursday, May 24, 2012, which caused low visibility on the roads and is expected to continue till the end of today, Friday. (Al Watan)

KUWAIT: Head of the agricultural and hydrological forecasting in the Meteorological Department Osama Al-Mithin expected on Thursday that visibility may drop to less than 500 meters in most parts of the country until the end of the day on Friday. Al-Mithin told Kuwait News Agency (KUNA) that wind resumed its activity again from the northern and western areas of the country, accompanied by another wave of heavy dust due to the progress of high pressure northwest of the country. He predicted that the weather would im-

prove gradually as of Saturday morning, as south westerly winds subside gradually with light suspended dust. He also expected temperatures to rise significantly, reaching to more than 46 degrees Celsius. He said that the country had suffered since last Tuesday a noticeable speed in the North-westerly wind that exceeded 70 km per hour due to high pressure from the north-west causing stirring up sand and dust from the north and northwest of the country and low visibility to most areas to less than 1,000 meter. -KUNA

Ambassador Al-Muzzin lauds Kuwaiti-Russian ties MOSCOW: Kuwait Ambassador to Moscow Nasser AlMuzzin applauded deeply-rooted Kuwaiti-Russian relations. In a lecture delivered at the Higher Economic School, late on Wednesday, he pointed out that the Kuwaiti-Russian ties are undergoing steady development since 49 years ago. Al-Muzzin recalled the special commercial ties between Kuwaiti and Russian traders since late 1800s. He also spoke highly about the Russian supportive stance during the Iraqi occupation of Kuwait in 1990.Al-Muzzin added that Kuwaiti and Russian educational institutions have recently developed bilateral cooperation. -KUNA

Ambassador holds talks with Laos PM KUALA LUMPUR: Kuwait Ambassador to Laos People Democratic Republic Nabil Rashid Al-Dekhil held talks with Laos Prime Minister Thongsing Thammavong over bolstering bilateral ties. In statement to Kuwait News Agency (KUNA) Thursday, Al-Dekhil said the meeting is a part of a series of planned meeting with Laos officials to mull developing bilateral cooperation in all domains, particularly the economic sector. The Ambassador noted he has also conveyed to PM Thammavong greetings of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah. -KUNA

Kuwait Ambassador to Moscow Nasser Al-Muzzin. (KUNA)

Lebanese President Michel Suleiman (left) speaking with Kuwaiti Ambassador to Lebanon Abdulaal Al-Qenai (right) during a meeting held Thursday, May 24, 2012. (KUNA)

BEIRUT: Lebanese President Michel Suleiman said on Thursday his country is keen to further bolstering and cementing relations with Kuwait. President Suleiman’s remark came after a meeting with Kuwaiti Ambassador to Lebanon Abdulaal Al-Qenai and discussed bilateral relations, a state-

ment issued by the presidential palace. He asserted Lebanon government and people are eager for maintaining bilateral relations with the brotherly country. This meeting is part of the Lebanese leader’s contacts with some Arab countries on their recently announced travel ban. -KUNA

Kuwait to attend Islamic conference in Moscow Friday MOSCOW: Undersecretary of the Ministry of Awqaf and Islamic Affairs Dr. Adel Al-Falah will take part Friday in a conference dubbed “Islam against extremism” in the Russian capital Moscow. The conference is supervised by the International Moderation Center and will witness participation of a number of senior Russian Muslim clerics as well as foreign scholars, in addition to the International Union for Muslim Scholars. Prominent religious figures from a number of Arab and Islamic countries especially Lebanon, Morocco, Tunisia, Sudan, Jordan, Chad, Indonesia, Uzbekistan, Turkey, Iraq, Malaysia, Iran and others will also take part. The conference will discuss the dangers of religious extremism in all its forms and condemn the use of Islamic expressions such as Jihad, takfir and succession to justify political goals. -KUNA

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ALWATAN DAILY

regional

friDAY, may 25, 2012

Troops shell Rastan, 13 killed across Syria Syrian cleric says mediating release of kidnapped Lebanese

CAPITALS: Syrian regime forces pounded the rebelheld town of Rastan in central Homs province on Thursday, killing three civilians, as four people were “summarily executed” in a province bordering Turkey, a monitoring group said. The Syrian Observatory for Human Rights said a total of at least 14 people were killed across the country, including the four executed in Idlib province of northwest Syria. Elsewhere in the violence-swept country, four civilians were summarily executed in a field near Basamis town in the province of Idlib. “Eight civilians were killed in a field near Basamis this morning, including four who were detained from their homes and summarily executed,” according to the Britainbased Observatory.

NEWS IN BRIEF Iran navy saves US freighter from pirates: Report TEHRAN: Iran’s navy said Thursday it saved an Americanflagged cargo ship that was being attacked by pirates in the Gulf of Oman. An Iranian warship responded to a distress signal from the US-flagged Maersk Texas, a cargo ship of 150 meters (500 feet) and 14,000 tons, which was besieged by “several pirate boats,” the navy said in a statement reported by the official IRNA news agency. The cargo vessel “was saved by the navy of the Islamic Republic of Iran” on Wednesday, IRNA added. The pirates “fled the scene as soon as they spotted the presence” of the warship. Maersk Texas “thanked the Iranian navy and sailed towards its destination safely,” it added. -AFP

“The Observatory strongly condemns the summary execution of the four people, in contravention of international treaties signed by the Syrian authorities,” it said in a statement. “The Syrian security and military authorities do not have the right to summarily execute people, even if they are fighters,” it said. Four other people were killed in clashes in Idlib between regime troops and rebel forces, the Observatory added. In eastern Deir El-Zor province, one civilian and a regular army soldier were killed, the watchdog said. “Regime forces killed a young man at dawn in Quriya town in Deir El-Zor,” it said, adding that a soldier died in clashes between rebel forces and regime troops in the same town. “The bodies of six people from one family, including children, were found in the province of Hama,” the watchdog said, adding that the corpses were of a man, a woman and their four children.

A Syrian Islamist cleric said on Thursday that he was mediating the release of Lebanese Shiite men whose kidnapping in Syria triggered protests in Shiite areas of Beirut and raised fears it could ignite sectarian conflict in Lebanon. “They are well and safe, we are trying to secure their release, but the Syrian army shelling of the area has been blocking it so far,” Sheikh Ibrahim Al-Zoaby, head of the Free People of Syria group, told Reuters. The hostages were among a group of pilgrims returning to Lebanon from Iran when gunmen stopped their bus after it crossed into Syria from Turkey on Tuesday. Some passengers said the gunmen released the women and kept the men, in hopes of trading them for rebels in Syrian government custody. Some of those released said the gunmen were from the Free Syrian Army (FSA), an umbrella organization led by exiled army defectors that exercises little control over the many insurgent bands in Syria. It denied any connection to

Better control in Egypt voting process, says consultant

35 militants killed as Yemen army battles Al-Qaeda SANAA: Yemeni troops killed 35 Al-Qaeda militants in overnight battles in the restive southern Abyan province, a military official said Thursday as the army pressed ahead with a 13-day offensive to retake extremist strongholds. Speaking on condition of anonymity, the official said “Al-Qaeda fighters launched an attack” on the army in the region of Wadi Bani, west of the city of Jaar that has been under militant control since last year. The assault sparked fierce clashes that left “more than 35 militants” dead, the official said. He said though the army was making progress in its advance on Jaar, “it was facing resistance” from the militants. Another military official meanwhile said clashes continued in nearby Zinjibar, the provincial capital which fell to Al-Qaeda militants last May. -AFP

Iraq arrests four Russian bikers says foreign ministry MOSCOW: Russia on Thursday said the Iraqi authorities had arrested and jailed four of its nationals who had set out on a motorcycle tour of the Middle East without acquiring proper travel visas. Foreign ministry spokesman Alexander Lukashevich said the four bikers were initially detained on Saturday by an Iraqi military patrol and released after intervention by the Russian embassy in Baghdad. They were detained for a second time on Sunday on the outskirts of Baghdad after failing to apply for the necessary travel documents. Lukashevich said Moscow’s ambassador to Baghdad had discussed the incident with Iraqi President Jalal Talabani and received an assurance that the four would be released shortly from detention at a military base near the capital. -AFP

Turkish court convicts Kurdish politician over speeches

DIYARBAKIR: Kurdish parliamentarian Leyla Zana, a former Nobel Peace Prize nominee, was sentenced to 10 years in prison by a Turkish court on Thursday for spreading militant propaganda in a series of speeches she made over four years ago, court officials said. She was convicted of disseminating propaganda for the Kurdistan Workers Party (PKK) guerrilla group, which has fought a 28-year-old insurgency against the Turkish state in which more than 40,000 people have been killed. Zana had already been convicted for the same nine speeches she made in 2007-2008 at news conferences and public meetings, but her conviction was overturned by an appeals court on the ground that she had not had an adequate opportunity to defend herself. She was given a fresh trial in the main southeastern city of Diyarbakir, resulting in Thursday’s 10year jail sentence. As an MP, Zana enjoys parliamentary immunity, so her conviction will not take effect until she leaves parliament. The next election is set for 2015. Zana rose to prominence in 1991, causing uproar in Turkey’s parliament by speaking in Kurdish at her oath-swearing ceremony. A state security court convicted her in 1994 of having links to PKK militants and imprisoned her. She was not released until 2004 after the appeals court overturned her conviction and that of three other Kurdish former lawmakers. The PKK is designated a terrorist group by Turkey, the United States and the European Union. At a parliamentary election last June, Zana was one of 36 Kurdish-backed candidates who won seats in the 550-seat assembly. In recent years, the government has pushed through cultural reforms to improve the rights of the Kurdish minority, which was subject to assimilation policies for decades. But Zana and other Kurdish politicians are pushing for political autonomy in the mainly Kurdish southeast of Turkey. -Reuters

Arab League Secretary General Nabil Al-Arabi (center) speaks with a man in charge of a polling station, during his visit to the polling centers in Cairo on May 24, 2012, on the second day of the country’s landmark presidential election. (AFP)

CAIRO: According to election consultant Ossama Kamel, fewer abuses have occurred in this vote than in the parliamentary poll that ended in January, partly because of lessons learned at the time. He predicted a last-minute rush to the polls on Thursday, with voting time extended, perhaps for several hours. “We have seen a lot better control of campaigning on election day than during the parliamentary vote when there were lots of violations, with candidates and their supporters hustling people outside polling stations,” he told Reuters. The vote marks a crucial stage in a turbulent army-led transition racked by protests, violence and political disputes. The generals who took charge when Hosni Mubarak was ousted on Feb. 11, 2011, have pledged to hand over to the new president by July 1. Egyptians, choosing their leader freely for the first time in history, voted for a second day on Thursday in an election that is a fruit of last year’s popular revolt against Mubarak. After six decades under authoritarian, military-backed rule, Egypt’s 50 million voters can decide whether to entrust the most populous Arab nation to an Islamist president for the next four years, as well as the Islamist-led assembly they chose earlier. But secular candidates like ex-Arab League chief Amr Moussa and Mubarak’s last premier Ahmed Shafiq are in with a chance. Some voters voice disappointment with the perfor-

mance of parliament, where the Muslim Brotherhood’s party has the biggest bloc. The assembly has been unable to assert itself over the government appointed by the generals who took over from Mubarak. Alarmed by rising crime, disorder and a failing economy, some Egyptians favor a man with government or military experience, even if he harks back to the Mubarak era. Queues built up outside some polling stations in the baking sun, with many voters determined not to miss their chance to influence the first round. The government declared Thursday a public holiday to allow state employees to cast their vote. If no one wins more than half the votes needed for outright victory, the top two will contest a run-off on June 16 and 17. First-round results may be clear by Saturday, but an official announcement is not due until Tuesday. “I came yesterday and found it very crowded so I came today,” said Khaled Abdou, a 25-year-old engineer voting in Cairo. “I must participate in choosing the president and I hope this leads to stability and the change needed.” Voting passed off calmly on Wednesday, apart from a stone-throwing attack on Shafiq, 70, a former air force chief. Other leading candidates are the Brotherhood’s Mohamed Mursi, 60, independent Islamist Abdel Moneim Abol Fotouh, 60, Moussa, 75, who also served as Mubarak’s foreign minister in the 1990s, and leftist Hamdeen Sabahy, 57. -Reuters

Iran talks with world powers hit snag over sanctions

BAGHDAD: Iran accused world powers on Thursday of creating “a difficult atmosphere” that had hindered talks on its atomic energy program, signaling a snag in diplomacy to defuse fears of a covert Iranian effort to develop nuclear bombs. The nub of the dispute appeared to be Iran’s demand for fast relief from economic sanctions as part of any deal for it to stop higher-grade uranium enrichment, a pathway to nuclear arms, whereas Western powers insisted Tehran must first shut it down. But there was no sign of either breakdown or breakthrough in the talks that European Union foreign policy chief Catherine Ashton, representing the six powers, and Iranian chief delegate Saeed Jalili extended well into a second day. Both sides had a compelling interest not to let diplomacy collapse. The powers want to head off the danger of a new Middle East war raised by Israeli threats to bomb Iran while Tehran is scrambling to avert a looming Western ban on its oil exports. Washington voiced cautious hope on Wednesday that Iran was finally engaging the powers on detailed, transparent ways of proving its nuclear work, after years of secrecy and evasions of UN investigations, would be for peaceful purposes only. The over-arching goal of the six big powers jointly negotiating with the Islamic Republic is an Iranian agreement to scale back its uranium enrichment in a transparent way to ensure it cannot be diverted to bomb making. Atop the wish list in the powers’ proposal to Iran is for it to stop enriching uranium to a fissile purity of 20 percent. That is the nuclear advance most worrying to the West since it hurdles technical obstacles to reaching 90 percent, or bomb-grade, enrichment. Iran says it will not exceed 20 percent and the material will be made into fuel for a research reactor. The powers also want Iran to send its stocks of higher-refined uranium abroad and close an underground plant devoted to 20 percent enrichment and largely invulnerable to air strikes. In return, the United States, Russia, China, France, Britain and Germany have offered fuel to keep the medical isotope reactor running, assistance in nuclear safety and an end to an embargo on spare parts for Iran’s ageing civilian aircraft. Western diplomats ruled out any sanctions reprieve before Iran carried out its part of the deal in a verifiable manner, underlining the mutual mistrust accumulated over the course of a decade-long standoff. But Iranian media close to Tehran’s delegation said it was insisting on a “principle of “reciprocity” of concessions they said was promised by the powers in preparatory talks in Istanbul last month but was not guiding the Baghdad negotiations. An Iranian delegate who asked not to be named poured cold water on hints from Western diplomats that the sides appeared to be nearing common ground on ideas for an outline deal. “What we heard in Istanbul was more interesting,” he said. “We believe the reason (the powers) are not able to reach a result is America. (They) came to Baghdad without a clear mandate so we think the atmosphere is difficult.” Tehran wants any nuclear deal to spare it from an EU embargo on its vital oil exports due to be phased in fully by July 1, a potentially crippling economic blow, and also sees a rollback of trade and diplomatic sanctions imposed since 2006. Jalili countered the big powers’ proposal with a five-point package of initiatives covering a wide range of nuclear and non-nuclear issues, according to Iranian media. Western diplomats said Jalili’s proposal lacked concrete detail and included elements of no use in resolving concerns about the Islamic Republic’s nuclear ambitions. A UN nuclear agency report due in the next few days is expected to show that Iran has installed more uranium enrichment centrifuges at an underground site, potentially boosting output capacity of nuclear work global powers want it to stop.-Reuters

Somali Islamists flee as troops advance MOGADISHU: Al-Qaeda linked AlShabaab fighters in Somalia are fleeing their key stronghold of Afgoye ahead of an advancing column of government and African Union troops, military commanders said Thursday. Sporadic shooting was heard on the third day of an offensive against hardline insurgent positions as the joint force of AU and Somali troops closed in on Afgoye town, some 30 kilometres (18 miles) northwest of the capital Mogadishu. Thousands of impoverished civilians living in plastic and rag hut shelters along the Afgoye corridor - the main road from Mogadishu to Afgoye, and the world’s largest concentration of displaced people - are fleeing, fearing violence. “We are a few kilometers (miles) away from Afgoye and, God willing, we will complete the mission very soon,” said Somali military commander General Abdulahi Osman, who is with the government and AU troops advancing across the arid plains. “We are not encountering much resistance and so far the enemy is fleeing,” he added. The extremist Al-Shabaab have claimed to have repulsed the attack and have boasted of killing several soldiers. More than 400,000 people, around one third of all the displaced people in Somalia, were living in the Afgoye corridor at the start of the year, fleeing war or drought, according to the UN, which has warned civilians must be protected. “It is as if no one will be left in the Afgoye corridor today, hundreds of fami-

A handout photograph released on May 24, 2012 by the African Union-United Nations Information Support Team, Ugandan soldiers serving with the African Union Mission in Somalia and Somali National Army troops walking behind an armored personnel carrier on May 23 as a battle group crosses bushland west of Deynile, in an area northwest of Mogadishu. (AFP)

lies are returning to Mogadishu before the fighting reaches them,” said Abdirahman Ahmed, a father of four, after fleeing into Mogadishu. Long lines of trucks and buses piled high with people and their belongings lined the road towards Mogadishu, defying AU calls for civilians to remain in their homes. Most were fleeing the Elasha and Teredishe areas between Mogadishu and Afgoye, where hundreds of thousands set up makeshift homes in 2007 after fleeing violence at the time in Mogadishu. Shelling killed at least four civilians

the kidnapping. Al-Zoaby said the kidnappers will issue a video or recording of the kidnapped men soon to show they are well. He said the kidnappers want to hand the men to the Lebanese authorities, and denied his group played any role in the abduction. “I want to confirm that my group is not behind the kidnapping but they came to us because we have experience in mediation because we have mediated the release of the kidnapped Iranians,” he said, referring to a group of Iranians abducted late last year. Al-Zoaby said that the group that abducted the men may have believed they were supporting pro-Assad militias which have been mobilized to put down the 14-month-old Syrian uprising, whose armed wing is drawn from Syria’s Sunni majority. “They are looking for a safe passage for them (the hostages)but the Syrian regime is not letting this happen, the regime want them dead so it can say the rebels are criminals,” he said. -Agencies

on Wednesday. “Stray bullets sometimes reach the tarmac road, civilians are emptying the whole area before they are stranded in the battle zone,” said Halimo Adan, another witness. Mark Bowden, the UN humanitarian coordinator for Somalia, has urged all sides to “minimise the impact of conflict on civilians” and allow humanitarian access. However, army commanders said they were advancing on foot and avoiding the main road of the Afgoye corridor to allow civilians to leave the battle zone. -AFP

Jobless with degrees demonstrate in Tunisia

TUNIS: About 100 unemployed people with university degrees demonstrated Thursday outside Tunisia’s Kasbah government building in Tunis, chanting “work, freedom and dignity.” Kept away from the building by a strong police cordon, the demonstrators also shouted slogans dating from the Tunisian revolution of early 2011 and they threatened to hold a sit-in. “This government has taken no steps to deal with the problem of providing employment,” an official with the Union of Unemployed Graduates (UDC), Belgacem Ben Abdallah, told AFP, accusing the authorities of “corruption and nepotism”. The Islamist party Ennahda, which has come to power in the north African country since the ouster of dictator Zine El Abidine Ben Ali, “distributes jobs to its followers,” UDC coordinator Salem Ayari said. “The Ben Ali regime fell because of unemployment. But the curse is still there and even worse than before,” Ayari added. The UDC has called for the swift and transparent opening of recruitment exams into public service and for the establishment of unemployment benefit at a fixed rate. The government has announced a program to employ 25,000 in 2012. The unemployment rate is almost 19 percent in Tunisia, compared with 14 percent in 2010, and university graduates account for 250,000 of the 750,000 job-seekers in the country. When graduates held a protest on Bourguiba Avenue, one of the capital’s main thoroughfares, on April 7, they were violently dispersed by police and several people were injured. Demonstrations on Bourguiba Avenue were banned at the time. -AFP

ALWATAN DAILY

WORLD

FRIdAY, may 25, 2012

Fire on nuke-powered sub at Maine shipyard hurts six Smoke rises from a dry dock as fire crews respond Wednesday, May 23, to a fire on the USS Miami SSN 755 submarine at the Portsmouth Naval Shipyard on an island in Kittery, Maine. Four people were injured. (AP)

KITTERY, Maine: A fire on a nuclear-powered submarine at a Maine shipyard has injured six people, including a firefighter. Fire crews responded Wednesday to the USS Miami SSN 755 at the Portsmouth Naval Shipyard on an island in Kittery, a town near Portsmouth, NH, popular with tourists. The shipyard says the injured people have been treated and released. The firefighter suffered heat ex-

haustion. The fire, which began at around 5:45 p.m., was still burning early this morning but shipyard spokesman Capt. Bryant Fuller says the situation is improving. Shipyard public affairs specialist Gary Hildreth says the fire started in the forward compartment of the sub. The shipyard says the sub’s reactor wasn’t operating at the time and was unaffected. The cause of the fire hasn’t been identified. -AP

Fresh court challenge to Australian refugee policy

CANBERRA: Australia’s mandatory detention of boatpeople is to come under fresh legal scrutiny with a refugee advocate unveiling a High Court challenge to government security checks of detainees. Lawyer David Manne, who succeeded in having Canberra’s so-called people-swap deal with Malaysia struck down by the High Court last year, said he was preparing a new case against the government’s mandatory detention policy. Manne said on Thursday he was challenging secret assessments conducted by the Australian Security Intelligence Organization (ASIO), which have seen detainees found to be genuine refugees remain behind bars because they are deemed a threat to the community. “It is like a secret trial. We don’t know the process, we don’t know the rules,” Manne told the Australian Broadcasting Corporation. “All we know is the negative outcome and the consequences, and the consequences are cruel.” The challenge will focus on the case of a Sri Lankan man who has been locked up for more than three years after receiving an adverse ruling, but does not know why. A spokesman for Immigration Minister Chris Bowen declined to comment on the specifics given the matter was now before the court, but said security reviews were a key part of the asylum process. “These are complex cases, but the government cannot compromise on matters of national security,” the spokesman told AFP. “Of course, we ensure appropriate arrangements are in place for the care and support of people detained due to an adverse security assessment.” There are some 50 genuine refugees, including a pregnant mother and her children, who remain in detention on security grounds and Manne said it was a denial of natural justice to lock them up “indefinitely and possibly forever”. Australia had to relax its refugee policy after the High Court declared invalid its plan to send 800 boatpeople to Malaysia in exchange for 4,000 proven refugees, a ruling that also scuttled its offshore processing plans. Thousands of asylum-seekers have since been released into the community to await their visa ruling in a bid to relieve pressure on detention facilities as a steady stream of people-smuggling boats continue to arrive from Asia. -AFP

Afghan schoolgirls ‘poisoned by Taliban’ TAKHAR: More than 120 schoolgirls and three teachers have been poisoned in the second attack in as many months in Afghanistan blamed on conservative radicals in the country’s north, Afghan police and education officials have said. The attack occurred on Wednesday in Takhar province where police said the Taliban, who are opposed to education of women and girls, had used an unidentified toxic powder to contaminate the air in classrooms, leaving scores of students unconscious. Afghanistan’s intelligence agency, the National Directorate of Security (NDS), said the Taliban appear intent on closing schools ahead of a 2014 withdrawal by foreign combat troops. From the perspective of one neighborhood in Herat “A part of their Al Farooq spring offensive operation is ... to close schools. By poisoning girls they want to create fear. They try to make families not send their children to school,” NDS spokesman Lutfullah Mashal said. Afghanistan’s Ministry of Education said last week that 550 schools in 11 provinces where the Taliban have strong support had been closed down. Last month, 150 schoolgirls were poisoned in the Takhar province after they drank con-

taminated water. Since 2001, when the Taliban were toppled from power by US-backed Afghan forces, three million school-aged girls have returned to school. Women were previously banned from work and education under Taliban rule. There are still periodic attacks against students, teachers and school buildings, usually in the more conservative south and east of the country, where the Taliban draws most of its support. Afghanistan’s Ministry of Education said last week that 550 schools in 11 provinces where the Taliban have strong support had been closed down. Last month, 150 schoolgirls were poisoned in the Takhar province after they drank contaminated water. Since 2001, when the Taliban were toppled from power by US-backed Afghan forces, three million school-aged girls have returned to school. Women were previously banned from work and education under Taliban rule. There are still periodic attacks against students, teachers and school buildings, usually in the more conservative south and east of the country, where the Taliban draws most of its support. -AP

Toxic powder used to contaminate air in girls’ classrooms, leaving scores of students unconscious in Takhar province. (AP)

It says the launch did not breach a February agreement with the United States, which promised a suspension of uranium enrichment and a moratorium on nuclear and missile tests, in return for 240,000 tons of US food aid. But the United States suspended plans to start food deliveries after the launch plan was announced, saying it could not trust the North. Pyongyang in turn said it was no longer bound by the accord. A North Korean foreign ministry statement released Tuesday appeared to refer to the secret US trip, saying that Pyongyang had informed Washington “several weeks ago” that it was exercising restraint. The statement said it would bolster its nuclear deterrent and take “self-defense” measures unless the United States halts criticism and pressure over its rocket launches and atomic program. But it said a peaceful negotiated solution to the nuclear issue was still possible if the US drops its “hostile” policy. In 2006 and 2009 the North responded with nuclear tests after the UN imposed sanctions against its rocket launches. 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. -AFP

US drone strike kills 10 in northwest Pakistan MIRANSHAH: A US drone strike on suspected Islamist militants in northwest Pakistan killed 10 people on Thursday, Pakistani intelligence officials said, an attack likely to raise tensions in a standoff with Washington over NATO supply routes to Afghanistan. The pilotless drone aircraft attacked a compound in a village in North Waziristan, a day after a similar attack killed four suspected militants in the same region. “The drone fired two missiles at the compound. We believe it was being used by militants,” one of the Pakistani officials said. The United States has been urging Pakistan to mount an offensive in North Waziristan to pursue members of the Haqqani militant network, one of Washington’s most feared foes in neighboring Afghanistan. That looks more unlikely than ever, as a result of a crisis in relations between Washington and Islamabad over a range of issues. The United States has been pushing Pakistan to reopen supply routes to NATO forces in Afghanistan in difficult talks that show no signs of a breakthrough any time soon. Pakistan closed the routes, which are seen as vital to the planned withdrawal of most foreign troops from

NEWS IN BRIEF Transit fees toughest issue in NATO talks ISLAMABAD: Higher transit fees are the most difficult issue in Pakistan’s talks with the United States on re-opening supply routes to NATO forces in Afghanistan, a Pakistani official told Reuters on Thursday. The official said Pakistan was demanding substantially higher fees and that it was not clear when a breakthrough was possible. “It could be tomorrow or it could be in two months,” the official said. -Reuters

Ukraine plays down Euro 2012 snubs over Tymoshenko KIEV: The Ukrainian president is playing down plans by some European leaders to boycott the Euro 2012 championship matches in Ukraine over the imprisonment of ex-premier Yulia Tymoshenko. President Viktor Yanukovych also suggested in an interview with the Segodnya daily newspaper published Thursday that Tymoshenko, who is suffering from a severe spinal condition, will not be allowed to be treated abroad. Tymoshenko, 51, is serving a seven year term on charges of office condemned as politically motivated by the West. Allegations that the top opposition leader was beaten by prison officials have prompted top EU officials to announce a boycott of Euro 2012 games hosted in Ukraine during the June 8 - July 1 event. -AP

Chinese activist’s brother flees guarded village BEIJING: The brother of Chinese activist Chen Guangcheng has fled his closely guarded village to seek legal advice Thursday in Beijing on how to protect his son from what their supporters call retaliation by local officials, an attorney said. Chen sought protection of US diplomats last month after escaping virtual house arrest in his hometown, sparking a standoff between Beijing and Washington and highlighting the extralegal measures taken by local Chinese officials to suppress dissent. The two countries resolved the standoff by agreeing to let Chen and his immediate family travel to the US so that he could attend a university, but his supporters say the legal activist’s extended family in Shandong province faces a continued crackdown. -AP

Sri Lanka sets up new courts to try war suspects

US officials ‘fly to North Korea’ before rocket launch WASHINGTON: Two senior US officials made a secret visit to North Korea last month in an apparent attempt to persuade it to cancel an upcoming long-range rocket launch, according to a South Korean report. A US Air Force Boeing 737 flew from Guam to Pyongyang with the officials on April 7, six days before the failed launch went ahead, Chosun Ilbo newspaper cited a diplomatic source in Seoul as saying. Experts speculate the aircraft carried Sydney Seiler, a National Security Council adviser to President Barack Obama, and Joseph DeTrani, director of the National Counter-Proliferation Centre, it said. The report was one of several carried by South Korean media, although government officials and the US State Department have refused to comment. Yonhap news agency also said the plane carried DeTrani, who organized former president Bill Clinton’s visit to Pyongyang in August 2009 to secure the release of two female American journalists. The United Nations Security Council condemned the April 13 launch as breaching a ban on testing ballistic missile technology, and tightened sanctions on North Korea. Pyongyang insists its aim was only to put a scientific satellite into orbit for peaceful purposes.

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Afghanistan before the end of 2014, in protest against last November’s killing of 24 Pakistani soldiers in a NATO air attack along the Afghan border. US frustrations with Pakistan deepened on Wednesday after Pakistani authorities sentenced a doctor accused of helping the CIA find Osama bin Laden to 33 years in jail on charges of treason. Attacks by unmanned drone aircraft, which US officials say are highly effective against militants, fuel anti-American sentiment in Pakistan because they are seen as violations of sovereignty that inflict civilian casualties. After a review of ties with the United States following the killing of the 24 Pakistani soldiers, Pakistan’s parliament demanded an end to drone strikes. Pakistan has spelt out in no uncertain terms that the drone attacks inside its territory must stop, but Washington is not listening, Foreign Minister Hina Rabbani Khar told Reuters in an interview in April. Analysts say the CIA could not kill high-value AlQaeda or Taliban militants without cooperation from Pakistani authorities, unless intelligence from informants on the ground used in drone strikes has improved dramatically. -Reuters

COLOMBO: Sri Lanka is setting up new courts to accelerate cases against hundreds of Tamil rebel suspects three years after the end of the island’s bloody ethnic war, a government spokesman said Thursday. Lakshman Yapa Abeywardena said the justice ministry would open three courts near the former war zone in the northeast of Sri Lanka to hear charges against more than 650 detainees. “We have taken a decision to speed up the cases,” Abeywardena told reporters in Colombo. The opposition Tamil National Alliance (TNA) party has accused authorities of holding detainees in dire conditions, some of them for years without being charged. -AFP

New Seoul city hall sparks controversy over design

The South Korean capital unveiled its latest landmark on May 24, a controversial 256 million US dollars city hall with an undulating glass structure that looms over its preserved colonial-era stone predecessor. (AFP)

SEOUL: The South Korean capital Thursday unveiled its latest landmark, a controversial 256 million US dollars city hall with an undulating glass structure that looms over its preserved colonial-era stone predecessor. Scaffolding and fencing around the site were removed this week after three years of construction, dramatizing the contrast between the 13-storey futuristic building and the 1926 structure built during Japanese rule, which it overshadows. The development symbolizes the dilemma facing Seoul, a city largely destroyed during the 1950-53 Korean War and hastily redeveloped as the country’s economy boomed later in the 20th century. Planners are now trying to preserve what little remains of the past, but several architects and passers-by were unen-

thused with the result in this case. “There is little harmony between the new and old buildings,” architect Baek Min-Seok told AFP. “The old building next to a new one is going to be an eyesore, but you cannot tear down a time-honored structure just because of aesthetic reasons. This is a dilemma for Seoul.” Baek also said the new city hall contradicts an official guideline to limit glass walls to less than half the total wall area for energy efficiency. The new building, with 7,000 glass wall panels, will be open for use as early as September. Its protruding front, resembling a breaking wave, rears over the old hall failing to blend in with the austere structure or with an old royal palace nearby. Yoon Seo-Hyun, 24, said the two are

too close to each other. “They could have built it with a more traditional appearance. It’s just not blending in the landscape,” the office worker said. But Kim Da-Eun, a 24-year-old education consultant, said she likes the new building. “It matches well with the skyline of Seoul, and I think it matches the global image of Seoul quite well,” she said. Lee Gil-Sung, a senior city official in charge of infrastructure, defended the new structure and said it had energy-efficient features. “As to design, there is no fixed answer. Different people have different opinions,” he told AFP. “Think of the Eiffel Tower in Paris. When it came into existence in 1889, many people poured scorn on it. But now it’s an icon of France and one of the mostvisited monuments in the world.” -AFP

6

ALWATAN DAILY

OPINION

FRIDAY, MAY 25, 2012

Paying the price for conflicts between relatives

Since we cannot congratulate Musallam for winning the battle; I think we should offer our heartfelt condolences to Al-Wasmi for losing the war.

Nabeel Al-Fadhl

A

nother uneventful day passed us by without accomplishing any major developments in parliament. In fact, it was depressing to witness the government being represented by just three ministers when Speaker of the National Assembly Ahmad Al-Saadoun commenced yesterday’s session at 9 am. And then, a couple of minutes into the session, he was left with no other option than to suspend it due to lack of quorum. And although a sprinkling of MPs from the Minority Bloc were present, most of the MPs from the Majority Bloc were either conspicuous with their absence or chose to come in late. It is important to note here that the first session was actually being held to discuss the filing of an interpellation motion against the Minister of Finance Mustafa Al-Shamali by members of the Majority Bloc. Soon after the parliamentary session was called off due to a lack of quorum, members of the government chose not to return to the National Assembly simply because it was apparently clear that MPs affiliated to the Majority Bloc had already initiated some new negotiations with the government. Paradoxically, the last statements that were released by members of the Majority Bloc, two days ago, were similar to those that were released by MP Faisal Al-Mislem in which he had said: “We insist on our stand and our intention of merging the two interpellation motions.” However it now seems that they, for reasons best known to themselves, chose to retreat and accepted the government’s terms and conditions; as is evident in the fact that released another announcement that they would not merge the two interpellation motions; most probably under the pretext of seeking further cooperation with the government. It is also strange that none of the opposition MPs even chose to explain the reason behind their unwillingness to

cooperate with the government when His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad AlSabah threatened to walk out of the session if they insisted on engaging in arm-twisting tactics against the government. I also cannot comprehend the reasons why the National Assembly Speaker Ahmad Al-Saadoun and MPs affiliated to the Majority Bloc insisted on paving the way for the government to storm out of the session by insisting on merging the two interpellation motions that were not related in any way; and which was rejected by the concerned minister. And whatever happened to all those speculations that were circulating around with regards to persuading members of the Majority Bloc to retreat and cooperate with the government? It wasn’t actually cooperation (as claimed by some MPs of the Majority Bloc) but a conditional waiver. The first condition was that the minister should necessarily respond to all the points contained in both the interpellation motions on that day itself but the minister rejected that demand probably he wouldn’t have been able to respond to those motions subsequently due to health reasons; or because he could probably tender in his resignation after answering points mentioned in the first interpellation motion and avoid answering the other. This is the main reason why members of the Majority Bloc submitted a second condition in which they demanded answers to questions contained in the second motion first. In other words; to discuss the in-

terpellation motion that was filed by Musallam Al-Barrak before discussing the one filed by Obaid Al-Wasmi despite the fact that the latter filed his interpellation motion first. The government vociferously rejected that blackmail and insisted on adhering to its stance. Unfazed by the government’s attitude, members of the Majority Bloc then tried to persuade Obaid Al-Wasmi to withdraw his interpellation motion in desperate attempts to discuss the one that was filed by Musallam Al-Barrak against Finance Minister AlShamali and submitting a vote of no-confidence with the support of members of the Majority Bloc who are renowned for obeying orders without asking any questions or even discussing them. The least expected surprise was actually sprung by AlWasmi; who for the second time in three months, actually responded to the demands of Musallam Al-Barrak and withdrew his interpellation motion to enable Al-Barrak to question Al-Shamali. Some other MPs like Mohammad Hayef Al-Mutairi opined that withdrawal of the interpellation motion actually defused the crisis while Al-Wasmi made it absolutely clear, in no uncertain terms, that he chose to make the decision in attempts to avoid any useless and unwarranted controversies which should not take place in parliament. Since when have our representatives actually started listening to their inner conscience and since when have they actually started to care about what’s good for the nation

and its citizens? Who is the one who has actually involved the parliament in such useless controversies right from the onset? Was it Al-Shamali’s fault or was it the government’s fault? Was it the fault of the Minority Bloc, the Majority Bloc or was it Al-Wasmi’s fault? The answer came in the form of Al-Wasmi’s statement when he said: “I apologize to the people of Kuwait for all that transpired during both the sessions.” This apology was an explicit acknowledgment of wasting the parliament’s precious time since I am certain that the interpellation motion will not be discussed any time soon. I’d like to ask Al-Wasmi this question: “How long do you expect this to last? Will Kuwaiti citizens always have to pay the price for conflicts existing between cousins? It is evidently clear that the parliament, the government and citizens across the country have been paying the price for the last two sessions of conflict that arose between Al-Wasmi, his cousin and his colleague in the same bloc. And since we cannot congratulate Musallam for winning the battle; I think we should offer our deep condolences to Al-Wasmi for losing the war. I personally think the time is appropriate to expect a serious session in which we can thoroughly enjoy the superlative performance of the two parties; despite being aware of the end result in advance. I say this taking into consideration the underlying fact that the presiding judge is unfair, unbalanced and unjust and hence; has to abide by orders given to him by members of the Majority Bloc. We should also pay a fitting tribute to the government for standing firm over its stance and Finance Minister Al-Shamali as well; for his outstanding sense of self-confidence. We can then look forward to the release of a movie in the “comedy genre” in which MP Al-Anjeri will expose a sinister plot where Mustafa Al-Shamali or Fahad Al-Rajaan will be shown financing the Iranian nuclear reactor project.

Commending a landmark decision Khalid Sultan Al-Sultan

If we choose to abide by the Sharia that God Almighty has deemed on us; we can surely hope to be blessed by His holy will.

Ali Farzat

M

y joy literally knew no bounds when I read in the local newspapers about a decision undertaken by the Civil Service Commission (CSC) approving the appointments of all those who graduate in Islamic Studies in various legal positions that are available at the state’s courts. The decision is especially applicable to all those who successfully passed a special course in law that was formulated by the CSC. An official notification to that effect is expected to be submitted to the Cabinet soon. The decision is indeed a step in the right direction while especially taking into consideration the fact it will accord full justice to all those graduates who have exerted painstaking efforts to acquaint themselves, study and graduate in Islamic Studies from Kuwait University. Moreover, such a decision is definitely in line and in tune with the upcoming stage which is expected to witness the official application and implementation of more Islamic laws or amending the current laws that are in existence to comply with Islamic Sharia. In attempts to acquaint myself further on the issue, I took the opportunity of asking one of the legal practitioners in Kuwait about all those students who graduate in Islamic Studies in various Gulf Arab states. He told me that in other Gulf Arab states, graduates in general are appointed in various legal positions since these positions are just nor reserved specifically for law graduates. The CSC, on the other hand, has endorsed effective steps through setting aside special training courses for graduates of Islamic Studies in exemplary attempts to train them well enough to hold various positions that are usually held by legal practitioners. Once again, I honestly believe that the appointments of all those who graduated in Islamic Studies as legal practitioners is surely a step in the right direction; mainly because all those graduates have gone through the rigors of studying Islamic law during their academic studies at Kuwait University and hence can be considered competent and qualified enough to play significant roles in Kuwait’s judiciary taking into consideration the underlying fact that Kuwait is expected to implement or amend a plethora of laws that are expected to be in compliance with the Sharia of God Almighty. We earnestly hope and pray that the process gets underway as soon as possible in attempts to be implemented simply because if we choose to abide by the Sharia that God Almighty has deemed on us; we can surely hope to be blessed by His holy will and be encouraged to feel safer and more secure in our lives. On the other hand, although we nurse the firm belief that collective work is legal and binding, we should first and foremost ensure that it is organized fairly through the various criteria that govern the application of that collective work; especially through complying with instructions that are deemed upon us in the Holy Quran and Sunna of Prophet Mohammad (Peace be upon him). Engaging in collective work can be very effective if it is aimed at achieving and guaranteeing the best interests of the nation and its citizens; away from personal and vested interests. There can be no doubt in one’s mind that whenever certain associations, groups or movements encourage citizens to be involved in collective work or promulgate a sense of unity among members of society, such efforts are truly commended. However, great care should be exercised to ensure that members of those associations, groups or movements do not exploit those calls for collective work to achieve the personal or vested interests of their respective members. It is imperative that the members of such movements must bring themselves to first abide by the instructions of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah as well as statutes enshrined in the Constitution. Last but not least, they must exert exemplary efforts in aiding and assisting the country’s rulers in maintaining the best interests of the public in whatever way they can and ensure that they do not, in any sort of way, mislead the general public just to maintain and guarantee their own personal interests.

Dealing with problems of our own creation Aziza Al-Mufarej

I

t is indeed deplorable that the general infrastructure, location and rampant criminal activities in Jleeb AlShuyoukh which is a distant suburb in Kuwait leave a lot to be desired. Just take a field trip around the area and you will know exactly what I mean. I really feel sorry for all those hapless residents in that area who are inconvenienced in some way or another on an almost daily basis. I personally feel that the government should be blamed for the appalling situation that exists there. Some of the areas there are bustling with criminal activities -- from daylight robberies, violence in the open streets among various gangs while it is near impossible to even walk on the streets after sunset. In fact acts of violence in that area is increasing at an alarming rate while the government has done absolutely nothing to ease the situation there. In fact the situation is so drastic that those problems might even spread to adjoining areas making it even more difficult to contain. I simply cannot comprehend the reasons why the government with adequate assistance from the police cannot bring the situation under control. In fact, the situation has become even worse now that several Kuwaiti citizens too have taken up residence in that area because these citizens are ready to engage themselves in any sort of crime to get more money. On the other hand there are those that are turning a blind eye to a host of prob-

lems witnessed in this area simply because all that they are interested in; is to replenish their own private coffers with wads of currency notes at the expense of other unsuspecting citizens. It is even worse that they simply do not care about the safety, security and stability of their own country nor do they even care about cleanness as is evident in the fact that they think nothing of littering the streets by dumping their garbage anywhere and everywhere except in the bins provided for disposing garbage. They seem to be blind despite walking all over the place with their eyes wide open pretending not to see anything in their paths; other than amassing money. There are also those that have devised a novel way of earning extra money through leasing rooms by erecting extra floors on existing buildings which is illegal. This is surely an important source of earning additional income apart from the monthly salaries that they get from the government. It is a crying shame that they build additional floors on houses without obtaining the required licenses from the relevant authorities such as Kuwaiti Municipality and the Ministry of Electricity and Water. It is also strange that the additional illegal floors and rooms that they construct attract tenants who are just waiting to move in. It is on very rare occasions that you will find any rooms vacant in these illegally constructed shanties. All this construction only leads to the accumulation of more garbage on the streets and which in turn

attract stray cats and dogs to rummage through. The situation gets even worse when the disposed waste especially food; begins to rot and an overwhelming stench pervades the entire area making it near impossible to even walk through those streets. Even the municipality turns a blind eye and this in turns the entire area to resemble gigantic gutter that stinks of sewage and rotting flesh of animals. It mostly citizens who have more than one house at their disposal who resort to increasing the floors of their dilapidated buildings and lease the rooms to expatriates taking into consideration the underlying fact that Kuwaiti owners usually prefer not to lease their houses to compatriots. And in the event that expatriates rent the entire house they start committing several violations. On the other hand, there are also those owners of dilapidated houses who request the government for expropriation after which the government takes possession of all those houses and in return pays huge compensations to them.. We urge the municipality to take appropriate action against all those violators, trespassers and transgressors before the owners of these buildings go right ahead and execute their own plans of action and turn the entire area into a stinking garbage zone. I also urge the municipality not to subject itself to the fait accompli that is usually engaged in by such errant owners through legally compelling all such owners to demolish all floors that have been built illegally without obtaining the necessary licenses.

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views

FRIDAY, may 25, 2012

Tweeting to Havana

In short, Cuba is frustrating and contradictory. Havana’s buildings are stunningly beautiful, but most are crumbling.

Esther Dyson Project Syndicate

I

was taking my usual morning swim, but this time on the roof of the Prague Central Hotel in Havana, where the sun does not rise until 6.30 a.m. even in May. In the dim light, I saw a man by the poolside. He told me that the pool opened at nine. I apologized. He shrugged and let me stay. But he did not leave. The day before, I had met with two, well, not quite activists, but people who are unhappy with conditions in the country. Our conversation had taken place in the hotel’s lobby; at the table next to us, two men seemed more interested in our business than their own. Could this man at the pool have something to do with that meeting? It was not inconceivable, though it was unlikely. I would not have been a good target, and the conversation had been frustratingly mild. I kept swimming as paranoid fantasies formed in my head. In fact, the two passive dissidents had said little. What did they want? Well, more freedom; the ability to be published and heard in Cuba. Orlando Luis Pardo (@OLPL), a blogger, had published four books, but now no publisher in Cuba will talk to him. In theory, Pardo and his friend Antonio Rodiles want lots of things, such as regime change, a free economy, and other things too disruptive to mention. But they are careful not to do anything that smacks of protest or action. That discretion keeps them safe, more or less. As in most countries classified as “unfree” by human-rights organizations, enforcement of the law can be arbitrary. The authorities know who the dissidents are and “remind” them of that from time to time. For example, in a widely noted - and disputed - incident, Pardo was grabbed by police on the street, along with Cuban blogger Yoani Sanchez, and roughed up. The obvious route to change for Cuban dissidents would be to leave - as so many have done, often at the government’s invitation. But Pardo and Rodiles don’t want to leave. In fact, Rodiles returned after getting a graduate degree (in theoretical physics) abroad; Pardo is a biochemist trained in Havana. They want to stay, hoping not agitating - for change. I thought hard - and checked with Pardo and Rodiles before publishing this column. Pardo wrote back: “I am not an undercover actor at all. Transparency is my best protection under totalitarianism. I do not need any kind of secret software to blog, or rules to talk safely from a Cuban mobile phone, etc. In fact, I prefer the political police (State Securi-

Thousands of Cubans march under the slogan “Preserve and Perfect Socialism”, at Revolution Square in Havana during Labor Day on May 1, 2012. According to the present Constitution, nothing can be attempted against the development of socialism, analysts said. (AFP)

ty) to be aware of all of my writings. They are my privileged readers. I talk freely almost as a provocative performance. I hope that the result is contagious for the rest of our somehow zombie citizens.” Rodiles added, “We are always breaking the ‘law,’ because, according to the present Constitution, nothing can be attempted against the development of socialism. However, we keep moving with our project, and I have been straight with the secret police: if they want to stop me, they need to arrest me.” Pardo and Rodiles are probably better known outside Cuba than they are at home, thanks to the Internet, which allows them to publish worldwide, but which is barely available in Cuba. (I met them via Twitter, by posting a request to meet some “entrepreneurs” in Havana.) Indeed, I have not seen such a lack of connectivity since I first went to Russia 23 years ago. Local phone calls - let alone international ones - frequently fail to connect. The

Internet is accessible in hotels (limited bandwidth for $8 an hour) and some government offices, but not to regular people. Those who want to use it rely on foreign embassies, government friends with access, and people like me, who can purchase Internet cards in their hotels. (I observed the rules: the only thing I gave to Pardo and Rodiles was my partly used WiFi card.) Local government-employed academics I talked to bemoaned the lack of Internet access, which they attributed to the United States’ embargo, technical problems, or complications with the local infrastructure. Everyone agreed that Internet access could dramatically help the economy, but seemed unwilling to concede that it was regarded as a political threat and thus was being delayed intentionally. A flood of money coming into Cuba would not necessarily help. While it would certainly make the country as a whole richer, it would most likely increase not just legitimate inequality

The euro awaits its verdict Simon Johnson Peter Boone Project Syndicate

T

he creation of the euro just over a decade ago was a courageous and unique experiment. Today, the outcome - whether the euro will survive, and whether the Europeans are right to keep it - is very much in doubt. But, if the eurozone does survive, it promises great advantages for member countries - and perhaps for the world. The euro is an ultra-fixed currency among members: participating countries locked themselves into an initial exchange rate vis-à-vis their pre-existing currencies and then threw the keys into the long grass. Nowadays, an increasing number of Europeans are combing that grass, quietly looking for those keys. The euro shares important features with versions of the old gold standard, under which countries fixed their exchange rates relative to each other by setting the price at which domestic currency could be redeemed in gold. Today, some people espouse the view - often loudly - that the gold standard was synonymous with economic and financial stability. But that is completely at odds with the historical record: the era of the gold standard is replete with boom-bust episodes fueled by over-borrowing by governments, firms, individuals, or all of the above. There are three differences between the euro and the gold standard - none of which is particularly reassuring at this moment. First, the gold standard’s central premise was a finite quantity of gold in the world; more of it cannot be created or discovered, at least not quickly. By contrast, the European Central Bank can create more euros if so desired. Countries cannot run out of liquidity, because the ECB can always provide more cash. But governments and investors know this, and the result has been much higher debt-to-GDP ratios than would have been possible under the gold standard. The eurozone as a whole has a debt-toGDP ratio of 90 percent, which is high by any standard. Such debt levels are sustainable as long as investors continue to assume that another bailout is just around the corner. But

7

This is not about Greece any longer. Italy, Spain, Portugal, and even Ireland face the same issues, but are at an earlier stage in the backlash. if the ECB is threatening to cut off support - for example, because a government will not comply with what the Germans regard as good economic policy - the whole house of cards can come tumbling down. Second, financial markets have become huge relative to anything seen under the gold standard. European banks could bulk up in large part because it was assumed that their respective governments backed them. Not only are these banks now large relative to some national economies, but the quality of government credit is now in question across the eurozone periphery - up to and including Italy. The term “risk-free asset” has become an oxymoron in contemporary Europe. European banks have been operating on a great deal of debt and very little shareholder capital - the essential buffer against potential losses.Any shock to sovereign debt or further downturn in local economies will be transmitted through an overleveraged and undercapitalized banking system to other European countries and - quite possibly - elsewhere, including the United States. Finally, for all the talk today of the discipline that the gold standard supposedly provided, countries that adhered to it regularly suspended convertibility - meaning that the domestic currency could no longer be converted freely into gold. But today’s Europeans have no domestic currency - just the euro. If any country - for example, Greece - left the euro, all contracts in that country would have to be rewritten. The disruption, particularly to credit, would be profound.

The proper functioning of the gold standard required a high degree of flexibility in wages and prices. If exchange rates cannot depreciate, wages and prices need to fall when a country has an unsustainable current-account deficit. But, as peripheral Europe can now attest, this is a cumbersome, painful, and politically unpopular form of economic adjustment. Expect the backlash against it to grow in the months and years ahead. The news focus today is on how hard it is for the eurozone periphery to adjust and return to growth, owing to the combination of high public debt and actual or perceived austerity measures. But there is a flip side to the problem: capital is flowing to Germany as the regional safe haven, making credit more readily available there. The dynamics of adjustment within the eurozone exacerbate the underlying imbalances - Germany is becoming more competitive while the periphery remains uncompetitive. The recent Greek elections have brought more radical parties to the fore. Alexis Tsipras, the head of the Coalition of the Radical Left has a valid point: “internal devaluation” - cutting wages and prices - is failing as a strategy. His alternative appears to be to abandon the euro. If Greece can’t do better than this, he argues, then it should leave. But this is not about Greece any longer. Italy, Spain, Portugal, and even Ireland face the same issues, but are at an earlier stage in the backlash. Unemployment is rising, their economies are not becoming more competitive, and the interest rates on their debt continue to rise. These countries may eventually decide to leave. And, even if they don’t make that choice, fear of such exits can easily become self-fulfilling. The euro system was designed to deliver prosperity and stability for all. It has clearly failed for some countries, and it may fail for many. Severe mismanagement by European politicians has caused damage that will last for decades. Perhaps a stronger fiscal union, a central ministry of finance, and debt sharing would reduce the difficulties and imbalances enough to allow the euro to survive. Perhaps adjustment will start to work just in time. There is a lot of shouting in the jury room. Expect a verdict soon. * Peter Boone, Chairman of Effective Intervention at the London School of Economics’ Center for Economic Performance, is a principal in Salute Capital Management Ltd.

Traders work before the closing bell on the floor of the New York Stock Exchange May 14, 2012 in New York City. The Dow finished down 125.25 points to close at 12,695.35 on fears that Greece may leave the Euro zone, analysts said. (AFP)

* Simon Johnson, a former chief economist of the IMF, is a professor at MIT Sloan and a senior fellow at the Peterson Institute for International Economics.

- the kind of “winning” that motivates entrepreneurs - but most likely corruption as well. In a country as regulated as Cuba is, there are certainly people in positions of power who would be willing to bend those regulations for a share of the benefits accruing to a foreign investor. In short, Cuba is frustrating and contradictory. Havana’s buildings are stunningly beautiful, but most are crumbling.The racial inequality that the government had mostly eradicated seems to be increasing again, especially since private-sector tourism jobs, the main source of private income, seem to go disproportionately to white people. The government has done many things well, most notably its support of the arts and of economic equality. But the price! You must work for the state unless you pick one of 200-odd specified self-employment occupations, such as restaurant owner/worker, actress, tour guide, and carpenter. You can employ a few other people in your restaurant, for example, but not too many. Pardo’s girlfriend, a dentist, cannot go into practice for herself; she works for a government clinic. In the end, I don’t really know how to interpret what I saw. These two men spoke relatively freely; is their ability to do that (so far) a sign that the government knows that few people are listening? What looks like a peaceful rooftop in the morning could in fact be a scene of intimidation. It all depends on how you interpret it - and on how they interpret you. * Esther Dyson, CEO of EDventure Holdings, is an active investor in a variety of start-ups around the world. Her interests include information technology, health care, private aviation, and space travel.

America and Syria’s ‘dead man walking’ Bernd Debusmann Reuters

W

hen US President Barack Obama and the leaders of Germany, France, Britain, Canada and the European Union first issued public calls for President Bashar AlAssad to step down, the death toll in Syria stood at 2,000. That was in August 18 last year. When Obama repeated the call on May 19, as host of a summit meeting of the Group of Eight, the body count had reached 10,000, according to United Nations estimates. The two figures highlight the lack of success of economic sanctions and diplomatic pressure on a ruthless leader who learned lessons in unrestrained brutality from his father, Hafez Al-Assad, whom he succeeded in office. A peaceful solution to Syria’s protracted crisis now looks remote enough to wonder whether Bashar Al-Assad might outlast Obama in power. The US president is not assured of winning another term in office next November. But the odds of the Assad regime surviving into 2013 look better with every passing day, even though one of the US government’s top experts on Syria has labeled the Syrian president a “dead man walking.” There are several reasons for skepticism about a resolution to the Syrian crisis in the near future. One is the government’s military superiority over fractured and lightly-equipped opposition forces. More importantly, there is no international consensus on how to deal with what began 14 months ago as peaceful demonstrations against a 40-year family dictatorship and now includes huge suicide bombings of government targets that have raised suspicions of Al-Qaeda involvement. At the summit of the G8 - the United States, Germany, France, Italy, Japan, Russia, Canada and Japan - an aide to Russian Prime Minister Dmitri Medvedev made clear, again, that Moscow, unlike the West, does not see Assad’s departure as a necessary step towards ending the bloodshed. “Some may like or dislike the Syrian government...but one cannot avoid a question - if Assad goes, who will replace him?” said Mikhail Margelov. That’s a question to which there is no answer in Washington or the European and Arab capitals whose leaders say that Assad must go. Doubts over what would happen “the day after” explain why the US and its allies have been reluctant to consider arming the opposition and why they rule out military intervention on the model of Libya. Where Russia is concerned, some critics see motives that go beyond opposition to regime change, the prospect of losing a major client for arms exports, and fears of losing the Soviet-era naval base at the Syrian port of Tartus, Russia’s only outpost in the Mediterranean. Said Gary Kasparov, a vocal Putin critic, in an op-ed piece in the Wall Street Journal: “The Kremlin is desperate to keep Bashar Al-Assad in place...since any conflict in the region sustains the high oil prices that Mr. Putin and his cronies need to maintain power.” Assad’s Friends

Whatever the motive, it’s difficult to see Assad leaving as long as he enjoys arms supplies and backing from Russia, diplomatic support from China, military and intelligence advice

A peaceful solution to Syria’s protracted crisis now looks remote enough to wonder whether Bashar Al-Assad might outlast Obama in power.

from Iran, and shipments of diesel fuel from Venezuela. After a flurry of wrong predictions of Assad’s imminent exit late last year, political crystal-gazers have been wary of forecasts. But punters on an online exchange that allows bets on political events, rate Assad’s chance of being in office by the end of the year at 68 percent, up from 42 in February, when China and Russia vetoed a United Nations Security Council resolution that provided for Assad to hand over power to a deputy. The two countries voted in favor, two months later, of a Security Council resolution that backed a six-point peace plan drawn up by former UN Secretary General Kofi Annan. Its provisions included an end to all violence by the government and the rebels, talks aimed at a “political transition” and the dispatch of an unarmed UN force to monitor a truce that both sides are ignoring. There’s a Catch-22 in the Annan initiative. It specifies a “Syrian-led, inclusive political transition “which perversely makes Al-Assad part of the negotiations (if ever they begin). There is no good reason to think he would be inclined to make concessions on the negotiating table after making none in months of bloody crackdowns on the opposition. Administration officials have made clear that US patience with Assad, and with the slow progress of the Annan plan, is running out. Some of the bluntest language from Obama aides has come from his ambassador to the United Nations, Susan Rice. She has pointed out that the mandate of the truce supervision mission runs out at the end of July. “No one should assume that the United States will renew this mission,” she has said. “If there is not a sustained cessation of violence, full freedom of movement of UN personnel and rapid meaningful progress on all other aspects of the sixpoint plan, then we must all conclude that the mission has run its course.” And then what? Obama wading deeper into yet another Middle East conflict four months before the elections? * Bernd Debusmann is a Reuters correspondent. The views expressed here are his own.

8

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fridAY, may 25, 2012

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95 90 55 55 55 40 40

Jabriya (Surra) Jleeb Al-Shuyoukh Old Jahra New Jahra & Abdaly Hawally Ras Al-Salmiya Al-Riqa Salmiya Shuwaikh Sabah Al-Salem (Messila) Sulaibiya Sulaibikhat

2531 0000 2431 0000 2477 0000 2457 0000 2261 0000 2571 0000 2394 0000 2561 0000 2481 0000 2551 0000 2467 0000 2487 0000

South Sabahiya Fintas Zoor Ahmadi Ardiya Fahaheel Farwaniya Kuwait City Mishref Manqaf Nuzha Umm Al Haiman & Wafra Shuaiba

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

metropolitan

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

a re a b u s ro u tes

Origin

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

Destination

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

Via

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

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

VISITORS RESIDENTS

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

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

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

eMbassies &

Ministry of

C omm u nic a tions Telephone for Test & Complaints

warsha@warsha.com

f or e x p a tri a tes

VISITORS RESIDENTS

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

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

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

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

Police stations Tel.:

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

Ambulance

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

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

Private Hospitals

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

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

Adan General Hospital Al-Sabah Chest Hospital Al-Sabah Maternity Hospital Amiri General Hospital As’ad Al-Hamad Dermatology Center Farwaniya General Hospital Ibn Sina Hospital Jahra General Hospital Mubarak Al-Kabeer General Hospital Subhan Renal Hospital Sulaibikhat Orthopedic Hospital

25624000 22802555 1828282 1883883 25726666 22533177

Private Health Centers/ Clinics

Boushahri Clinic British Medical Center Care Clinic International Clinic

Public Hospitals

cons u l a tes

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

centr a l 4 7 2 2 0 0 0

94904040

hospital charges

medical services

Call, sms, Email us

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

23940600 24815000 24848067 22450080

1885544 23713100 22610666 25745111

Public Health Centers/ Clinics:

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

24832067 24883000 24840300 24575300 25312700 24840027 24874240

22447602 22545188 24726033 22611645 25750777 25524821 25723500 25610660 24848913 25336482

DOCTORS & DENTISTS

I N PR I VAT E PR AC T ICE

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

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

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

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

2565 0064 2533 3501

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

2572 8004 2532 9924

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

Cosmetic Surgeon Dr. Adel Quttainah

2562 5030 / 60

Ministries

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

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

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

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

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

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

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

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

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

Noodles Salmiya Tel: 25712233

Bukhara Sheraton Hotel Tel: 22422055

The Peacock Radisson Blu Hotel Tel: 25673000

Tourist Restaurant Kuwait City Tel: 22411702

Noodle Factory Avenues Tel: 24954751

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

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

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

Tel: 22997000

L I S T I N G S

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

Kuwait City Tel: 22400737

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

Sakura Crowne Plaza Hotel Tel: 24742000

AlRoshinah Restaurant Safir Hotel & Residences -Fintas Tel: 25455555

Shogun The Palms Hotel Tel: 27070022

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

Manousha Salmiya Tel: 25722607 / 8

Al-Noukhaza Crowne Plaza Hotel Tel: 24742000

Fakhr Al-Din Restaurant Kuwait City Tel: 22423180

Villa Fairouz Shaab Tel: 22652030

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

Garden New Park Hotel Tel: 25634200

Yeldes Palace Kuwait City Tel: 22455212

Kabab-Ji Tel: 1861616

Zahrat Tunis Hawalli Tel: 22662444/333

Mais Al-Ghanim Kuwait City Tel: 22402590

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

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

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

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

Shabistan Crowne Plaza Hotel Tel: 24742000

The Gaucho Grill The Palms Hotel Tel: 25667370 -

• Seafood Al-Ahmadi Crowne Plaza Hotel Tel: 24742000

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

Al-Boom Radisson Blu Hotel Tel: 25756000

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

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

Flavors Restaurant Safir Hotel & Residences -Fintas Tel: 25455555

• Italian Ciro’s Pomodoro Kuwait City Tel: 22424004

Saj Express Kuwait City Tel: 22497822

Te l : 1 8 3 9 0 9 0

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

HOTELS

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

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

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

22452740 22997000 23281897 22415001

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

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

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

22528766 22465489 22443136 22532100 25742410 25713872 22928080

TWO STAR International Hotel Kuwait Residence Hotel

25741788 22467560

Shareholders sue Facebook, NYSE comes calling

BUSINESS

fridAY, MAY 25, 2012

m ar ket watc h KUWAIT 0.43% 6339

DUBAI 0.0% 1480

QATAR

OMAN

ABU DHABI

0.1% 8463

0.2% 5708

0.4% 2465

BAHRAIN

EGYPT

SAUDI

0.7% 1145

1.0% 4972

0.0% 7061

US Crude $90.98 $1.08 London Brent $105.91 $0.14 Kuwait Crude $102.68 $1.83 Information Courtesy: KAMCO

Oil climbs above $106 as Iran talks stall

Data

Oil prices have dropped by around 20 percent over the last three months as the global supply balance has improved, inventories have risen and as the risk of a halt to exports from Middle East oil producers has diminished. Chinese factory output faltered in May, figures showed on Thursday, as export orders fell to twomonth lows, pointing to sluggish economic activity in the first half of the year and denting the outlook for oil demand.

CURRENCIES US Dollar

British Pound

Saudi Riyal

Qatari Riyal

Euro

Japanese Yen

UAE Dirham

Bahraini Dinar

Buy 0.2799 Sell 0.2804 Buy 0.3519 Sell 0.3523

Buy 0.4389 Sell 0.4397

Buy 0.003527 Sell 0.003535

Buy 0.0746 Sell 0.0748

Buy 0.07621 Sell 0.07635

Buy 0.07703 Sell 0.07688 Buy 0.7426 Sell 0.74393

Indian Rupee

Buy 0.005039 Sell 0.005029 Philippine Peso

Buy 0.006437 Sell 0.006418

Prices in Kuwaiti fils as of May 24, 2012, Courtesy: KAMCO

CMA gives funds until June to cap stock ownership KUWAIT: Kuwait’s financial watchdog is giving investment funds until the end of June to comply with new rules on the ownership of individual financial securities. The Gulf state is home to a large number of investment firms which have been hard hit by the global financial crisis, many of them had trading in their shares frozen. The Capital Markets Authority (CMA), the first of its kind in Kuwait, was set up last year to try to address such issues. The CMA made amendments to bylaws in February regarding the amount of shares investment funds operating in Kuwait can own in a single security. It originally had an end-March deadline for compliance with its rules, but a new deadline had not been specified after the amendments. “The Capital Markets Authority draws the attention of all persons authorized of the need to resolve the issue of funds investing in securities before June 30, 2012,” the CMA said in an e-mailed statement on Thursday. The amended rules state that a fund cannot own more than 10 percent in a single security. It the fund wants to own more, then it can only acquire a stake which is less than the company’s comparative share of the stock market or of the sector. -Reuters

KSE closes session in red, drops 27.56 points Darlynn Amara

Staff Writer

Foreign currency traders work inside a trading firm behind the signs of various world currencies, in Mumbai May 24, 2012. The rupee rose sharply from an earlier record low of 56.40 to trade at 55.95/96 in late afternoon. Some traders speculate the Reserve Bank of India (RBI) likely intervened sporadically in the market by selling dollars through state-run banks. (Reuters)

The weak data from China followed a move by the World Bank to cut China’s 2012 economic growth forecast. Europe’s economy, meanwhile, appears to be contracting. The euro zone’s private sector has sunk further into the doldrums this month as new orders shrivel, forcing firms to run down backlogs and slash workforces, surveys show. And worryingly for policymakers, the downturn that started in smaller periphery members is taking root in the core countries of Germany and France, whose tepid growth had been keeping the troubled bloc afloat. “All the signs now point downwards,” said Carsten Fritsch, commodity analyst at Commerzbank in Frankfurt. “We see further declines in oil prices with Brent probably heading towards $100 per barrel.” Germany’s manufacturing sector is shrinking at its fastest rate in three years, data showed on Thursday, renewing concerns about the stamina of Europe’s largest economy. And Britain fell deeper into recession than initially thought in the first quarter of 2012 due to a slump in construction output, data showed. Energy demand, which tends to track economic activity, is almost certainly falling in Europe and growing more slowly than expected in some emerging economies, analysts said. “I think we can expect downward revisions in oil demand growth estimates as the latest economic figures are digested,” said Commerzbank’s Fritsch. International petroleum conference

In other news, the Society of Petroleum En-

gineers announced on Thursday it would organize Kuwait Petroleum Conference and Exhibition between next Dec. 10-12 in cooperation with the Kuwait University. The conference will be held under the patronage of Kuwait’s oil minister and Chairman of the Kuwait Petroleum Corporation (KPC) Hani Hussein. Executive Director of the Society of Petroleum Engineers Walid Rifai told Kuwait News Agency (KUNA) that the Conference would be an opportunity for participants to network with industry professionals, adding that over the past three years, each session of the Conference had been better than its predecessor. Rifai said that this conference is the fourth to be organized in collaboration with the Kuwait University, a matter that confirms the success of this cooperation. He expected the upcoming conference to attract up to 800 specialists to participate in this event. He noted that the theme of the conference this year will be the human resources and innovative technologies to meet the challenges of production from oil and gas resources, adding that the conference would also include a general executive seminar and two professional forums for senior industrialists, 16 technical lectures, more than 60 performances and a discussion of new technologies. He reported that the topics that will be presented and discussed include techniques of drilling, completing wells, characterization of field places, production processes, operation and facilities operation and production of non-conventional resources of oil and gas. -Agencies

Oman suspends HSBC unit merger pending suit DUBAI: HSBC’s proposed merger of its Omani business with Oman International Bank (OIB) has been halted by the Gulf Arab state after a creditor of the British bank filed an objection to the tie-up citing a pending lawsuit. Hong Kong Shanghai Banking Corporation (HSBC), Europe’s biggest bank, said in April it will merge its Omani business with OIB and retain a 51-percent stake in the expanded operation. Oman’s Ministry of Commerce and Industry issued an order temporarily suspending the merger until the lawsuit filed by a businessman is settled or withdrawn, a source familiar with the matter said on Thursday.

See page 10

OIL MARKETS

Kuwaiti crude price drops to $102.68 per barrel CAPITALS: The price of Kuwaiti crude dropped to 102.68 US dollars per barrel (pb) in transactions on Wednesday, compared with $104.51 on Tuesday, reported Kuwait Petroleum Corporation (KPC) on Thursday. Meanwhile, the price of oil on international markets dropped due to renewed concerns about the West-Iran strife over Tehran’s nuclear file and slow global economic growth. Price of the crude oil are largely influenced with fears that the European Union may fail in efforts to reach a final deal to resolve the regional economic crisis. Meanwhile, Brent crude oil rose above $106 per barrel on Thursday as reports of a hiccup in talks with Iran over its nuclear program balanced the effect of weak economic data from China and Europe. Iran accused world powers on Thursday of creating “a difficult atmosphere” that hindered negotiations on its atomic energy program, signaling a snag in diplomacy to defuse fears of a covert Iranian bid to develop nuclear bombs. Brent futures rose 74 US cents to $106.30 by 1042 GMT after earlier touching a high of $106.68 before weak Chinese and European economic data sparked a bout of selling. US crude for July rose $1.03 to a high of $90.93 after settling at $89.90 a barrel on Wednesday, the lowest close for frontmonth US crude since Oct. 21. Investors are worried that failure to agree a deal over Iran’s nuclear plans could lead to open conflict in the Middle East Gulf that could jeopardize oil supplies. This has been one of only a handful of factors supporting oil prices at a time when the world economy is stuttering. The apparent snag in the Iran nuclear talks tempered earlier hopes of success after a senior US official suggested discussions were making progress. The nub of the dispute was not immediately clear as the high-stakes talks continued in the Iraqi capital of Baghdad, but Iran has said it wants immediate relief from economic sanctions as part of any deal, a demand the West rejects. “Other than Iranian fears there is nothing to support prices even at current levels,” said David Hufton, managing director of brokers PVM Oil Associates in London. “There is not just a huge overhang of physical crude but of the light, sweet grades usually in high demand.”

SAN FRANCISCO: The fallout from Facebook Inc’s messy initial public offering (IPO) widened on Wednesday as shareholders sued the social network and its bankers while a trading firm revealed a massive loss on the shares and threatened to seek “remedies.” The Nasdaq stock exchange also came under further pressure as a source close to the situation told Reuters that NYSE Euronext had opened discussions with Facebook about a potential stock listing there. Nasdaq also faces litigation from angry investors. Facebook’s listing, envisioned as a crowning moment for an eight-year-old company that has become a business and cultural phenomenon, has instead turned into a legal and public relations fiasco for the company and its lead underwriter, Morgan Stanley.

The businessman has a compensation claim of 2 million Omani rials (5.20 million US dollars) against the bank, according to a local newspaper in Oman, and filed an objection with the ministry, citing the ongoing legal case. “Any objection in Oman has to be heard by the court for validity. That’s the reason the ministry issued a temporary halt,” a source said, speaking on condition of anonymity. In an emailed statement Thursday, HSBC said the merger was proceeding according to relevant laws and regulations. “Such objections are unexpected when mergers significantly increase the combined assets,” a spokesman for the bank said.

OIB shares were suspended from trading on Thursday as the bourse sought a clarification from the lender on merger being halted. OIB is Oman’s fifth-largest bank, with the second-largest branch network in the country and gross assets of $3.2 billion. The merger was slated to close in the second quarter and HSBC was planning to inject additional capital of up to $97.4 million from internal resources into HSBC Oman, as part of the deal. HSBC is pulling back from countries where it is unprofitable or lacks scale, and restructuring operations elsewhere, and has been reviewing its Middle Eastern operations. -Reuters

KUWAIT: The price index dropped 27.56 points at end of trade on Thursday at the Kuwait Stock Exchange (KSE), to close at 6339.39 points. Meanwhile, the weighted index lost 2.06 points to stand at 409.71 points and the new KSX 15 index, which reflects trading in bluechips slipped 5.44 points to 967.14 points. Most of the 15 sectors at the bourse closed in red, with the Financial Sector losing the most - 10.61 points follow closely by the Industrial Sector. The Healthcare Sector however jumped 160.46 points before close of trade on Thursday. The number of trades at closing stood at 4,591 with a volume of 305,662,860, valued at 25,139,648.46 Kuwaiti dinars The top gainer for the day was AlMowasat Health Care Company, followed by Palms Agro Production Company and Al Safat Real Estate Company while the biggest losers were United Foodstuff Industries Group Company, Securities Group Company and First Takaful Insurance Company. In early trading, the KSE price index shed 9.45 points dropping to the level of 6,357.5 points, while the weighted index followed suit losing 1.48 points and falling to 410.29 points. The KSX 15 lost 4.91 points, decreasing to 976.67 points. The number of trades amounted to 869 with a value of traded shares reaching KD 4,675,872. 496 and volume of exchanged stocks stood at 74,172,025 points.

Dow announces $2.16 billion award in K-Dow arbitration CAPITALS: The International Court of Arbitration of the International Chamber of Commerce (ICC) this morning released its findings in the arbitration case between The Dow Chemical Company (DOW) and Petrochemical Industries Company of Kuwait (PIC) relating to the K-Dow transaction. This was stated in a press release on Thursday. The ICC award holds that PIC was liable, and awards damages to Dow of 2.16 billion US dollars, not including interest and costs. Dow and PIC mutually agreed to resolve their contractual disputes through arbitration before the ICC, which is comprised of preeminent legal experts with experience in high-value commercial litigation. The award is final and binding. “This outcome brings resolution and closure to the issue,” said Andrew N. Liveris, Dow’s chairman and chief executive officer. “We remain focused on continuing to move forward with our transformation and profitable business partnerships - both in Kuwait and around the world.” Dow has been doing business with Kuwait for nearly 40 years. The Company’s partnership with Kuwait, which includes several industry-leading joint ventures, remains strong and will continue to benefit both parties.

US dollar stabilizes against Kuwaiti dinar KUWAIT: Exchange rate of the US dollar against the Kuwaiti dinar on Thursday stabilized at 0.279 Kuwaiti dinars, but the euro fell to KD 0.352, compared to Wednesday’s figures, said the daily bulletin of the Central Bank of Kuwait (CBK). Exchange rate of the Sterling pound dropped to KD 0.439, however the Japanese yen remained stable, at KD 0.003, whereas the Swiss franc slipped to KD 0.293. The greenback has remained dominant banknote, among the major currencies, amid fears about Greece’s prospected withdrawal from the euro zone, thus investors viewed, anew, the American currency as a safe option. -KUNA

Agility named ‘Best Business Partner’ by Dubai Customs Also named ‘Freight Forwarder of the Year’ by Dubai Trade

DUBAI: Agility, a leading global logistics provider, has been named ‘Best Business Partner’ in the supply chain and logistics company category by the Dubai Customs Department. Agility was selected for its outstanding commitment to high-quality customer service and customized solutions which help facilitate interaction between clients and customs authorities. This was mentioned in a press release on Thursday. Agility was also recently named by Dubai Trade

as ‘Freight Forwarder of the Year’ in recognition of the company’s innovative use of electronic services in the trade and logistics industry. This award is further proof of Agility’s commitment to e-services and e-solutions. Accepting the awards, Ramzi Al-Zarouni, Agility’s General Manager, Administration, Government and Business Affairs, said, “It is an honor to receive these awards and to be recognized by Dubai Customs and Dubai Trade for the contribution we make in facilitating exchange between our clients and authorities. We are committed to continuously developing innovative solutions that are both efficient for our clients and the UAE government.”

The picture includes His Highness Sh. Ahmed Bin Saeed Al Maktoum, Chairman of Emirates Airlines & Dubai World; His Excellency Sultan Ahmed Bin Sulayem; and His Excellency Jamal Majid Bin Thaniah, both from Dubai Port Authorities and Dubai Trade. The award was received by Ramzi Al Zarouni, Agility’s General Manager, Administration, Government and Business Affairs, Roland Monteath, Senior Manager and Hussam Al Younes, Senior Manager from the Agility Dubai Administration team.

10

ALWATAN DAILY

BUSINESS

FRIDAY, MAY 25, 2012

Gold edges up as euro cuts losses LONDON: Gold rose on Thursday, after three days of losses, although the drag of the euro near two-year lows tempered the bullion price and eclipsed data that showed another rise in central bank purchases of the metal last month. The euro edged higher, having hit a near twoyear low against the dollar earlier on Thursday after dire German economic data suggested no country in the region was immune from crisis, spooking investors already weighing the risk of Greece leaving the euro zone. This offset a potentially bullish lift from International Monetary Fund data that showed another rise in central bank holdings in April, after the largest purchase in over four years by the Philippines and further additions by the likes of Mexico, Ukraine and Russia to their reserves. Spot gold rose 0.3 percent to $1,566.06 an ounce by 1035 GMT. “The correlation with euro/dollar is quite strong at the moment. Today we’ve seen the euro come back off its immediate lows ... and that has helped the precious metals get a bid again,” Tom Kendall, an analyst at Credit Suisse, said. “On balance, I still think 1,600 US dollars is more likely than $1,500, although that view was looking a little shaky yesterday ... that is how quickly this market can shift around.” The weaker-than-expected Ifo business climate index and manufacturing PMI data for May suggested the growth in Europe’s largest economy that has so far helped the currency bloc dodge recession may be starting to slow. The correlation of gold to the euro/dollar exchange rate held close to its highest in a month, meaning that a move in the euro was more likely to see an identical move in gold than as recently as two weeks ago. European investors are also more likely to sell their gold when the euro depreciates against the dollar to earn a higher profit on their currency position by taking profit on their dollardenominated bullion position. “The euro fell to levels not seen since February 2010, when gold was trading around $1,100 an ounce. If gold moved entirely in lockstep with EUR/USD movements, we would expect the bullion market to be much closer to the $1,100/oz level,” HSBC said. “That gold now is $460 per pound higher, at $1,560 an ounce, implies it may have some other underlying supportive factors influencing prices.” Risk on, risk off

The high risk aversion that has dominated the financial markets over the past few months has resulted in gold coming under pressure, rather than benefiting from such nervousness as it usually does. This proved to be a stronger driver for the gold

FILE - An employee at a jewelry store displays gold chains in Singapore on Aug. 19, 2011. Gold rose on Thursday, May 24, 2012, after three days of losses, although the drag of the euro near two-year lows tempered the bullion price and eclipsed data that showed another rise in central bank purchases of the metal last month. (AFP)

price, which has lost 0.5 percent in value so far in 2012, on Thursday than more metal-specific news. The Philippines raised its gold holdings in March by the largest amount in 3-1/2 years, while Mexico and Ukraine made additions in April, in line with the trend among emerging-market central banks to diversify away from the dollar and the euro. Data from the International Monetary Fund on Thursday showed the Philippines added 32.13 tons of gold to bring its total to 194.241 tons in March, marking the biggest increase in one month since September 2008. “We regard the central banks as a stabilizing element on the gold market and anticipate increasing buying of gold if its price should fall towards the $1,500 a troy ounce mark,” Commerzbank said in

a note. Platinum imports into Switzerland, a major PGM clearing hub, fell to their lowest in over four years in April, largely due to a steep decline in shipments from top producer South Africa. This fall was the result of a sharp decline in the recent months in output at most mining companies because of safety stoppages, which in February and March was compounded by a strike at Impala Platinum’s Rustenburg mine, the world’s largest platinum facility. Spot platinum, which fell for the last two sessions, was up 0.3 percent at $1,422.74 an ounce, leaving the week-on-week decline to 2.2 percent and the fall for the month to nearly 9.5 percent. Palladium rose by 0.5 percent to $591.58 an ounce, while silver was up 0.8 percent on the day at $28.02. -Reuters

Syria ships naphtha to Venezuela, which sent diesel LONDON: A Venezuelan oil tanker is returning to Venezuela from Syria with a cargo of naphtha, shipping records showed on Thursday, after delivering badly needed diesel early this week as Western sanctions, causing severe shortages, hurt Syria’s economy. The tanker loaded a cargo of naphtha, a refined petroleum product that can be used to make petrol, from the Syrian port of Banias. Satellite tracking data shows the vessel is due to reach Amuay in Venezuela on June 12. The Negra Hipolita is the third vessel to deliver diesel to Syria from Venezuela, while a fourth shipment is being prepared, Syria’s state news agency said on Wednesday.

Venezuela angered Washington last year by supplying fuel to Iran, which is also subject to Western sanctions on fuel supplies. The EU has taken steps to prevent firms from delivering diesel to Syria as it can be used to fuel heavy vehicles, including army tanks. Thousands of people have been killed in Syria during a yearlong revolt against President Bashar Al-Assad’s rule, a conflict in which the military’s use of heavy vehicles has been prominent. Despite its chronic shortage of diesel, Syria has long had the appropriate refining capacity to be an exporter of naphtha. Tighter EU sanctions introduced late in March made it more difficult for firms to deliver diesel

to Syria without breaking the law, and imports of diesel have since ground to a near halt. The standstill has exacerbated the pain felt by ordinary Syrians who have been grappling with shortages for months and particularly hurt those in agriculture who rely on heavy machinery for their livelihoods. The scarcity of fuel is so severe farmers are resorting to using horses and mules, which is leading to huge increases in crop prices and affecting people across the country, according to non-governmental organization Avaaz. On Wednesday, Syrian officials said discussions were under way to secure materials from Algeria and Iran. -Reuters

Forecasters see Brent averaging less than $100 in 2013 CAPITALS: An increasing number of forecasters expect Brent crude to average less than 100 US dollars a barrel next year because of downward pressure from Europe’s debt crisis, a slowdown in Chinese economic growth and hopes for a resolution of the Iranian nuclear crisis. Reuters’ monthly oil poll, based on forecasts from 37 analysts, forecasts Brent averaging $115.10 a barrel in 2012, down $2.20 from the April poll - the steepest month-on-month cut in the poll over the past year. In 2013, Brent is seen averaging $113.20 a barrel, also a cut of $2.20 from April. A third of analysts have reduced their forecasts after a fall in prices from $125 at the beginning of April to just over $105 now. While they remain in a minority five analysts are now calling for a sub-$100 average next year, three more than in last month’s poll. “The crisis in the euro zone looks set to enter a new and much more dangerous phase. This could involve not just sovereign defaults in the periphery but also the potential exit of one or more countries from the currency union altogether,” said Capital Economics analyst Julian Jessop. Jessop added that another catalyst for the next big step down in oil prices could be an easing of sanctions on Iran. Capital Economics has the lowest forecast in the poll, calling for Brent to average $104 in 2012, $85 in 2013 and $80 in 2014. Other analysts that are forecasting oil to average less than $100 a barrel in 2013 include the Centre for Global Energy Studies (CGES), Nomisma Energy, Raymond James Ltd., and Santander. Chevreux is forecasting oil to average exactly $100 next year. Brent to date this year has averaged $117.60. An Organization for Economic Cooperation and Development (OECD) warning on Tuesday that the euro zone debt crisis could derail a shaky global economic recovery renewed concerns over global oil demand. “The macroeconomic risk coming from Europe will need to dissipate before we see crude oil market fundamentals dominate pricing again,” said Michael Creed from National Australia Bank. A quarter of respondents still saw Brent prices at or above $120 a barrel in 2012 and almost half of respondents at or above $120 next year. The highest forecast for this year belongs to Societe Generale at $127 a barrel. For next year Goldman Sachs at $130 and Credit Suisse at $132.5 are the most bullish forecasters, Strong demand in Asia and shrinking Saudi spare production capacity often cited as the main bullish factors. “While the euro area crisis, together with softer Chinese data, is likely to heavily temper the short-term upside for oil prices, it does not yet, in our view, presage a more dramatic sustained shift downwards in prices,” Barclays analysts Paul Horsnell and Amrita Sen said. “Considering the world’s central banks’ actions to stimulate the economy - even if the tension in the Middle East fades, there is still high upside risk in the oil market as inflation starts to bite,” said Thorbjoern Bak Jensen from Global Risk Management. The poll showed that US crude WTI will average $103.10 per barrel, down $2.50 from $105.60 in April. WTI’s discounts to Brent should narrow to seven dollars a barrel next year from $12 this year as the Seaway pipeline becomes operational, analysts said. The Seaway pipeline began pumping crude from Cushing, Oklahoma, oil tanks to the heart of the U.S. refining industry in Houston last Saturday, marking a historic shift in the way oil flows across the United States. “A significant narrowing should be on the cards once the pipeline capacity linking Cushing to the Gulf Coast reaches 400,000 barrels per day,” said Sebastian Wehrle of JBC Energy. -Reuters

Dow announces $2.16 billion award in K-Dow arbitration CAPITALS: The International Court of Arbitration of the International Chamber of Commerce (ICC) this morning released its findings in the arbitration case between The Dow Chemical Company (DOW) and Petrochemical Industries Company of Kuwait (PIC) relating to the K-Dow transaction. This was stated in a press release on Thursday. The ICC award holds that PIC was liable, and awards damages to Dow of 2.16 billion US dollars, not including interest and costs. Dow and PIC mutually agreed to resolve their contractual disputes through arbitration before the ICC, which is comprised of preeminent legal experts with experience in high-value commercial litigation. The award is final and binding. “This outcome brings resolution and closure to the issue,” said Andrew N. Liveris, Dow’s chairman and chief executive officer. “We remain focused on continuing to move forward with our transformation and profitable business partnerships - both in Kuwait and around the world.” Dow has been doing business with Kuwait for nearly 40 years. The Company’s partnership with Kuwait, which includes several industry-leading joint ventures, remains strong and will continue to benefit both parties.

The heat is (back) on: CEO turnover rate rises to pre-recession levels Karim Sabbagh, Senior Vice President

Booz & Company

KUWAIT: As the worldwide economy began to recover last year, chief executive officer (CEO) turnover at the world’s largest 2,500 public companies returned to rates seen during the pre-recession years, according to Booz & Company’s 12th annual CEO Succession Study. In 2011, 14.2 percent of CEOs at the world’s largest companies were replaced, which matches the historical seven-year average of just more than 14 percent, but is sharply higher than the 11.6 percent turnover rate in the crisis year 2010. “Boards are more likely to keep their chief executives during times of economic uncertainty in order to maintain stability, but they are more willing to make a leadership change when economic stability returns and company outlooks improve,” said Per-Ola Karlsson, Booz & Company Senior Partner, Managing Director of Europe. “That the overall turnover rate is back to historical levels suggests that some companies are making a real effort to rethink strategy and drive performance.” Booz & Company’s study of worldwide CEO succession patterns examines the degree, nature and geographic distribution of chief executive changes among the world’s 2,500 largest public companies. This year’s report, “The New CEO’s First Year” focuses particularly on the challenges for the new executives, who they are, and how they have performed. The report will be published today, and in the Summer 2012 edition of strategy+business, Booz & Company’s quarterly business and management magazine. “The first year is a critical one for CEOs, and this applies to the Middle East as well”, said Dr. Karim Sabbagh, Senior Vice President at Booz & Company. “We have found that getting it right from the get-go is key to the success of the CEO’s tenure. It is a brief window of opportunity during which the CEO must put his or her personal stamp on the company, and set it on course to navigate an uncertain future”. Among the report’s key findings:

• Insiders continue to bring higher returns. Although the number of outsider CEO appointments has been increasing

over the past five years, insider CEOs continue to perform better, bringing higher shareholder returns and serving longer tenures. Between 2009 and 2011, outgoing insider CEOs delivered a 4.4 percent annual shareholder return above local market indices on average, compared to just a 0.5 percent return from outsiders. • Appointment of outsider CEOs remains high. In 2011, 22 percent of new CEOs came from outside of their organization, which is consistent with 2010 and 2009, but is significantly more than the 14 percent of outsiders appointed in 2007.Notably, appointments of outside CEOs in North America was 22 percent in 2011, while in Western Europe the rate has risen to 31 percent in 2011, up from 24 percent in 2010 and 14 percent in 2007. • The Chairman-CEO relationship evolves. Many companies recognize the pressures facing a new CEO and respond with an “apprenticeship” model, appointing the outgoing CEO as Chairman to guide the new incoming CEO. In North America, 37 percent of outgoing CEOs in planned successions were appointed to Chairman to act as a guide to the new CEO in 2011. In Japan, the practice is much more frequent, with 63 percent of companies appointing the outgoing CEO as Chairman, while in Europe only 17 percent of companies did so. • Combined Chairman-CEO appointments rose slightly in 2011, but the overall trend is a continuing decline in joint appointments. Even with 2011’s slight rise, the practice of a combined Chairman-CEO appointment has declined over the past 12 years - from 34 percent in 2000 to 14 percent in 2011 globally on average. The declining frequency of combined appointments was most pronounced in Europe, where it fell from 53 percent in 2000 to just 17 percent in 2011. • Challenges for the new executive class. Following the stagnant economic growth that occurred during the recent recession, CEOs in this class face high expectations and new challenges. Many took over globalizing companies or companies in sectors facing disruptive market forces. Ken Favaro, Booz & Company Senior Partner, added, “The rate of outsiders appointed as CEO has remained steady at 22 percent for the past three years, but that is demonstrably higher than it was before the recession began, which suggests that companies are seeking leadership experience from outside their industries and markets. However, our study finds that insider CEOs continue to perform better, bringing higher shareholder returns, and serving longer tenures. These countervailing trends - better-performing

insiders and increasing numbers of outsiders - are currently at a crossroads and should be a consideration for any board thinking about making a change.” High-profile CEO turnovers at large companies dominated public attention over the last year - the new Booz & Company analysis reveals the untold story about how difficult that first year at the top can be.

1st year at the top: from CEOs who have been there This year’s report includes the results from detailed interviews with 17 CEOs across a variety of industries and regions, three of whom were from the Middle East. Booz & Company asked what advice these executives had for incoming CEOs. Among the many suggestions, this group encouraged the new executives to make necessary personnel changes swiftly in their new roles but to change strategy slowly while establishing trust through transparency. “As the rate of CEO turnover returns to historical levels, we are seeing executives face more intense pressure to perform during their first year,” said Gary Neilson, Booz & Company Senior Partner. “Our roundtable of 17 CEOs offers some very practical guidance for new CEOs and allows them to learn from their lessons as they look back on navigating their first year. These are gems of unvarnished advice.” One piece of advice from a Middle East-based CEO was to ensure the organization had the right capabilities to execute its new strategy from day one. “It is essential for companies to build and even acquire new talent to develop a cohesive team with the necessary capabilities to launch the institution on its path to success and earn its right to win,” explained Sabbagh. Based on a series of recommendations from seasoned executives for the new class of CEOs, the most important pieces of counsel that new (or aspiring) CEOs should consider include: 1) Clean house (selectively)- deal with the obvious executive team changes as early as possible. 2) Not so fast on the strategy shift -be wary of changing strategy too quickly, even if you think the current strategy is wrong, and make sure the company is on a sound footing before sending it off in a new direction. 3) Step out of your strike zone- make sure you understand how every part of the company operates, and how it is performing. 4) Be transparent - be as open as possible about plans and motives with all the critical players, and move decisively in making the most pressing changes. 5) Don’t listen to everybody - everyone has an agenda, but not all of them are in the best interests of the CEO or the com-

pany you have been hired to run. 6) Find a sparring partner with whom you can discuss plans openly - and who has no agenda other than your success. 7) Get your home life in order - manage your time and your personal life with care. The first year is career-defining, and establishing necessary groundwork for high performance is crucial to success, especially considering the tumultuous environment into which most CEOs are entering. Additional Study Findings:

CEO turnover rate is highest at the largest companies • CEO turnover rate was highest among the top 250 companies by market capitalization - just over 14 percent on average over 12 years - and nearly 2 percent higher than companies ranked 251-2,500 by market capitalization from 2000-2011. • M&A-related turnover is traditionally higher among smaller companies, with 2.2 percent of turnover among the bottom 2,000 companies stemming from consolidation, compared to 1.3 percent at the top 100 companies. Turnover was highest in sectors that faced disruptive market forces

• Turnover in the energy, telecoms and utilities sectors were 19, 18 and 16 percent, respectively, in 2011. • In the diversified sector, leadership changes took place at a rate of 6 percent only. Succession rates are felt unequally among the largest emerging markets

• Since 2006, the number of companies among the top 2,500 based in BRIC and emerging countries has more than doubled. • Turnover among companies based in Brazil, Russia, and India in 2011 took place at a rate of 22 percent, while the rate in the US, Canada and Western Europe was just over 13 percent. • Chinese CEO turn over rate was only 6.8 percent in 2011. Insiders consistently serve longer tenures

• Since 2000, insiders have served their companies as CEOs for at least one more year on average than outsiders. 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

Shareholders sue Facebook, NYSE comes calling

Monday 24 May, 2012 Index Price index Weighted Index KSX 15 Security

KUWAIT: Mohammed Al-Gergawi, Minister of Cabinet Affairs and the president of the organizing committee of Middle East Small and Medium Enterprises (SME), a forum for SMEs, emphasized that the forum, which is the largest in the region, reflects the United Arab Emirates (UAE) leadership’s support to the youth in view of the importance of this sector in the future economic growth in the region. This was stated in a press release on Thursday. Al Gergawi said the Middle East SME will represent a major international forum aiming at sustainable development in the sector through developing government policies and funding, integrating SME effectively in the national economic circle and encouraging youth innovation and creativity. The forum will be organized at the DubaiWorld Trade Centre from December 11-13 2012, offering a platform for public and private sectors, financial corporations

and experts to create business opportunities for the youth in the region, address SME challenges and find suitable solutions. His Excellency said that the UAE Leadership believes in youth capabilities and the great opportunities which can be generated by this sector, as the UAE had launched many initiatives during the past years to support youth projects, and these initiatives have enhanced the UAE experience in this vital sector. The Middle East SME seeks to find a platform that addresses the challenges facing the SME sector in addition to providing the opportunities for initiative owners from the youth to present their plans and projects to decision makers representing government, semi government and private sectors. The Middle East SME will organize a number of initiatives such as awards for investment and ideas, enabling owners of projects and initiatives to present their ideas to international experts and investors.

Low

6,377.21 412 57 412.57 987.03

6,321.10 408 60 408.60 972.51

Trades Value (KD)

Trades

0

0

0

0

103,500

19,528

3

0

0

0

0

0

0

0

0

0

0

124

122

206,000

25,524

6

Last

0

190 0 0

124 65

Change

ŷ ź ŷ ŷ ź

00 0.0

7 211 7,211

791

2

528,693

68,729

13

0.0

SRE

265

260

240,565

62,552

14

PEARL

38

35

211,416

7,390

13

-2.0

TAM

228

224

35,167

7,878

6

AREEC

162

158

21,968

3,485

4

MASSALEH ARABREC

114 37

110 37

88,406 313,900

9,861 11,542

6 36

0.0

0.0

6,501

410

2

2,352 318,353

494 45,956

4 15

204 991.17

ź ź

-8.0 -8.27

PIPE

110

108

105,000

11,544

6

110

ŷ

0.0

KFOUC

340

330

51,462

17,297

7

BPCC

610

600

105 546 105,546

63 340 63,340

5

0

0

0

0

0

216

216

750,223 1,012,231

162,048 254,229

35 53

216 977.62

ź Ÿ

-2.0 1.01

0

0

0

0

0

0

ŷ

0.0

KCEM REFRI

176

172

1,001

172

2

CABLE

1,320

1,320

13,530

17,860

7

SHIP

250

230

194,100

45,317

16

PCEM

920

900

8,022

7,268

7

PAPER

0

0

0

0

0

MRC

134

124

8,870

1,125

40

ACICO

246

242

77,100

18,723

8

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

0

0

0

0

0

EQUIPMENT

172

170

42,820

7,283

7

NCCI

0

0

0

0

0

GYPSUM

91

91

1

0

1

SALBOOKH

34

34

16,000

544

1

AGLTY

405

400

324,010

131,214

24

ŷ

172

1,320 230

900 0

130

246 0

405

ź

34

128

15 13 0

KGL

116

114

164,075

18,873

14

114

KCPC

335

325

60,500

19,668

4

335

0

0

0

0

0 3

0

0

GFC

30

27

20,010

584

12

MAYADEEN

22

21

34,961,601

755,607

210

1,440

1,380

173,950

243,754

45

MTCC

95

93

66,400

6,215

7

UPAC

0

0

0

0

0

CGC

ALAFCO

295

295

50,000

14,750

1

MUBARRAD

65

61

271,100

16,960

25

LOGISTICS

285

280

834,501

233,660

29

SCEM

85

84

25,000

2,115

4

GCEM

97

97

240,000

23,280

6

ź ŷ

24,240

114

ŷ

91

22,333 0

0

ŷ

ŷ

192,906

1,150

ź

0

170

160,311 0

0

ź

ŷ

124

95

ŷ

0

138 0

0

ź

ŷ

0

130

100

ź

0

144 0

SAFWAN

ź

ŷ

EDU

NAFAIS

ź

0

CLEANING CITYGROUP

HUMANSOFT

ŷ

140 0

ź Ÿ

97 0

0

0

0

0

0

ŷ

260,879

24,001

10

Ÿ

5.0

93

MABANEE

990

980

320,053

314,369

13

INJAZZAT

64

59

63 100 63,100

3 793 3,793

6

0.0

INVESTORS

21

20

19,175,642

386,243

205

IRC ALTIJARIA

55 84

52 84

2,684,776 13,000

143,191 1,092

48 2

SANAM

61

59

260,002

15,560

8

60

ŷ

0.0

AAYANRE

89

83

1,416,152

119,542

48

83

ź

-5.0

AQAR

0

ŷ

0

ŷ

0.0

-2.0

100

94

6,000

570

2

ALAQARIA

0

0

0

0

0

MAZAYA

84

82

549,442

45,386

17

ADNC

0

0

0

0

0

0.0

THEMAR

86

86

70,500

6,063

1

GRAND

0

0

0

0

0

-4.0

TIJARA

43

41

726,820

30,308

20

TAAMEER

56

50

12,003

600

4

0.0

ARKAN

0

0

0

0

0

ARGAN

0

0

0

0

0

0.0

ABYAAR

48

47

16,551,716

778,604

92

MUNSHAAT

36

33

3,516,899

121,254

91

FIRSTDUBAI

39

39

350,255

13,505

15

KBT

0

0

0

0

0

0.0

REAM

0

0

0

0

0

MENA

41

39

60,000

2,380

5

-5.0

ALMUDON

0

0

0

0

0

-20.0

-10.0

-10.0 -2.0 0.0

0.0

0.0

-2.0 0.0

-2.0 8.0

Ÿ ŷ ŷ ź ŷ ŷ ź

0.0

IFA

48

46

10,850,137

500,541

182

NINV

132

128

941,156

122,056

44

-2.0

KPROJ

325

320

255,050

82,116

14

COAST

51

49

1,400,082

69,809

39

-40.0

TII

0

0

0

0

0

SECH

0

0

0

0

0

IIC

0

0

0

0

0

SGC

180

170

2,805

477

3

IFC

100

96

2,726,295

267,483

105

MARKAZ

118

116

10,010

1,161

2

KMEFIC

0

0

0

0

0

-1.0

AIG

0

0

0

0

0

ALAMAN

38

36

1,149,000

42,327

26

0.0

ALOLA

146

142

297,334

42,726

10

ALMAL GIH

49 35

47 34

2,381,000 9,689,057

113,804 335,827

83 89

0.0

-0.5 1.0

0.0

0.0

-1.0 0.0

0.0

0.0

0

ŷ

0.0

NSH

0

0

0

0

0

PAPCO

130

130

1

0

1

CATTL

0

0

0

0

0

DANAH

89

87

145,942

12,865

11

ŷ ŷ

0

ŷ

0

ŷ

Ÿ ŷ

OSOUL

0

0

0

0

0

0

0

0

0

0

0.0

KAMCO

250

250

1

0

1

NIH

51

51

200

10

1

ISKAN MADAR

0 0

0 0

0 0

0 0

0 0

0.0

2,500

2,125

1

YIACO Health Care

420

395

703,841 706,391

285,153 287,290

56 58

420 1152.23

Ÿ Ÿ

25 160.46

KCIN

0

0

0

0

0

0

ŷ

0

KHOT

182

182

250 2 0

46

1

SULTAN

7

MUNTAZAHAT

53

50

339,078

17,850

12

JAZEERA

410

400

41,100

16,561

11

SOOR

0

0

0

0

0

FUTUREKID

0

0

0

0

0

ALNAWADI

280

280

Ÿ ź

53

Ÿ

0

ŷ

405 0

108

ź ŷ

-10 10 0

47

30,150

1,437

7

AMWAL

0

0

0

0

0

MASAR

0

0

0

0

0

ALIMTIAZ

0

0

0

0

0

0

90

710

Ÿ

10

2,220

2,200

57,657

127,245

17

77

7,310,876 17,254,927

580,617 7,726,217

155 262

80 923.59

Ÿ Ÿ

1,040

ź

-4.0 -0.5

KPPC

74

72

361,512

26,390

9

1 5.34

TAHSSILAT JEERANH

95 102

95 94

50 24,010

5 2,267

1 6

EKHOLDING

295

295

2,241 2 241

661

2

295

ŷ

0.0 00

-20

GFH

46

44

98,268,416

4,367,336

943

ź

0 -30

45

INOVEST Financial Services

58

56

530,000 169,675,600

29,850 7,893,621

10 2,247

56 964.78

-2.0

ź ź

-1.0 -10.61

MAREF 0 Investment Instruments

0

0 0

0 0

0 0

0 0.00

ŷ ŷ

0.0 0.00

445

Ÿ

-20

0

0

0 2

500

87

1

265,000 265 000 21,876,193

44,520 44 520 884,018

4 312

28,020,743

4,676,033

585

975.35

ź

-1.22

0

ŷ

0

250

26

1

102

ź

0

ŷ

81

-2 2 3

10.0

-25.0 -4.0 0.0

-10.0 5.0

WETHAQ

81

81

130,950

10,607

4

ARIG

0

0

0

0

0

BKIKWT Insurance

0

0

0 183,058

0 33,180

0 12

0 1095.18

ŷ ź

0.0 -2.51

AINV

0

0

0

0

0

0

ŷ

0

SOKOUK KRE

0 54

0 53

0 1,420,000

0 75,810

0 18

0 54

Ÿ

ŷ ź

1 1.0 0

ź

174

102

0.0

0.0

ź

168 38

102

0.0

21

174

FTI

0.0

-2.0

144

168 42

ŷ

-1.0 1.0

13

UGB

0

0.0

0.0

158

AUB ITHMR

0

0.0

0.0

64,982

63

0

0.0

0 0.0 0

384,189

1,542,058

0

0.0

450,000

2,528,317

0

-3.0 0.0

18,611,197

600

0

0.0

-10.0

21

610

KUWAITRE

-0.5

144

BOUBYAN

ź

0.0 0.0

21

ŷ

ź

-4.0

148

ŷ

132

0.0

0.0

ALSAFWA

730

410

0.0

AGHC

415

2

0.0

0.0

0 19

18

4

0.0

0 83,020

147

67

0.0

-1.0 0.0

0 1,059,000

286,985

16,481

-0.5

0 77

1,454,941

514

0.0

0.0

0 79

694,939

39,344

0.0

SHOP SENERGY

1,992,345

128

-2.0

1

720

410

-20.0

0

410

132

0.0

0.0

1

740

430

0.0

68

415

WINS

-1.5

68

KFIN

AINS

0.0

0.0

BIIHC

-35

00 0.0

0.0 -1.0

ASC

445

445

150

67

2

SAFTEC

77

73

40,010

2,921

3

FUTURE

224 87

68

0 79

74

95 94

77 0

Ÿ

-1.5

12

BURG

Ÿ

ŷ

0.0

-5.0

32,978

0

500

36

ŷ

0.0 -6.59

380,536

10 -5

1

0

ŷ

-2.0

85

Ÿ ź

6,000

0

0.0

0.0

88

ŷ

12,000

0

ź

0.0

0.0

UIC

0

0

500

47

ź

-0.5

34

890 265

500

ŷ

0.0

-1.0

210

0

GINS

57

69

ŷ

0.0

198,992

3 3

0

ŷ

1.0

0.0

515 224 515,224

0

0

0

32

ŷ

0.0

-1.0

895,639

1,624 2,933

0

ŷ

0

0.0

0.0

14,459,909 14 459 909

0

0

0

-2.0

35

1,827 11,050

0

ŷ

1.0

0.0

222

0

KINS

168

0.0 0.0

37

880 265

Banks

ź ŷ

3.0

-0.5

224

0

Ÿ

84 0

ź

1.0

0.0

NIND

890 270

ź Ÿ

250

0.0

MANAZEL

0

ALMUTAHED KIB

174

17 1

48

7,018,354

168 42

26 26,829 829

GNAHC

9,886,394

ŷ

161 161,300 300

3

700

610

166

28

720

ABK

1 170 0

TAMINV

4,297

0 7.46 -7.46

ŷ ź

ŷ

33,397

ŷ ź

410 780

ŷ

0

75,389

0 971.44

9 6

0

0

487,035

0 83

121,954 73,430

0

0

57

0 96,025

301,120 96,553

0

0

68

0 732,838

405 760

0

0

57

0

410 780

0

0

69

0

GBK CBK

0

NOOR

MANAFAE

3

19

ALMADINA

KCIC

490

263,483

67 0

3

1,812

252,899

133,358 0

0

265

1,040

1,568,595 0

0

310

1,060

83 0

2,427

0

NBK

86 0

0

0

HITSTELEC 82 Telecommunications

EKTTITAB QURAINHLD

80,229

0

ź

72

0

0

2,200

353,742

30

0

NMTC

1,421,334

0

ZIMAH

ZAIN

246

32

0

KOUTFOOD Consumer Services

255

KSHC

2

ź

ALSALAM

STRATEGIA

0

265

ŷ

0

756

UFIG

ź

0

0

0

ŷ

38

0

0

7 7,000 000

ŷ

18

0

0

ź

0

0

108

ŷ ŷ

36,208

0

0

0 0

51

0

0

0

ŷ

964,186

0

0

250

0

0

-10

ŷ

37

0

3

ŷ

0

0

5

0

38

EXCH

-10

0

ŷ

ALDEERA

TAIBA

0

0

ALSAFAT

0

108

0

ŷ

50

ALRAI

0

ź ŷ

KFIC

850

30

49 35

ź

0.0

10.0

850

16,235

ŷ

37

0

ATC

22,553

144

0

60

59,017

ŷ

0

Ÿ

77,137

0

0

228

270

ŷ

0

1

270

ŷ

GLOBAL

11

280

0

ź

0.0

50

295

118

ź

ŷ

228

OULAFUEL

96

ŷ

228

MASHAER

170

ŷ

0

MHC

ŷ

0

ŷ

39

-20.0 10.69

ŷ

0

ź

0

ź Ÿ

0

ŷ

5

1,320 989.94

0

0

49

0

4 17

0

ŷ

1,218

1

0

325

0

2,520

0

ź

31,501

19,808 35,193

ŷ

ŷ

47

0

15,000 180,943

ŷ

130

38

20,000

ź

ź

0

126

Ÿ

265

39

1,320

0

ŷ

ź

AAYAN

126

0

57

BAYANINV

1,340

0

ŷ

ŷ

0

0

ŷ

0

102

0

0

39

ŷ

5

0

0

0

ź

5

0

0

ŷ

8,317

0

IFAHR

0

39

8,160

KSH

EYAS

ź

31,243

0.0 -10.05 10.05

0

35

80,000

ŷ ź

104

ŷ

265

0 962.57

0

ŷ

0

102

0 507

17

47

Ÿ

270

0 1,622,701

0

ŷ

102

0 38,027,657

21,534

0

54

FACIL

0

0

ź

KINV

0.0

0

207,444

ŷ

41

0.0

RKWC Industrials

0

0

ŷ

-15.0

0

102

86

ź

ź

6

0

82

Ÿ

ŷ

0

106

100

ŷ ŷ

ŷ ź

11,044

CABLETV

54 84

Ÿ

345 983.38

0

182

ź

64

3

120,699

850

20

43 745

0

126

ŷ

395

91

FOOD Consumer Goods

990

217,863 2,472,756

ź

-2.0 -0.5

92

7,002

ŷ

-2.0

0

0

POULT

ź ź

-2.0

-2.0

93

95

89

ź

0.0

0.0

ERESCO

FCEM

130

110 37

20 2.0

UREC

QCEM

95

162

ź

636,298 49,547,865

ź

85

ź

35

55

1,400

285

228

340

ź

62

ŷ

57

27

295

260

345

ŷ

0

Ÿ ŷ

REMAL Real Estate

0

95

110

130

Change

MARAKEZ

ŷ

22

Last

-4.0 0.0

ź ŷ

0

95

Trades

128

63

0

Trades Value (KD)

108

202

610

Volume

110

65

Ÿ

Low

130

214

340

High

305,856,767 25 163 983 25,163,983 4,608

URC

ABAR

ŷ

Security

Volume Value (KWD) Number of Trades

NRE

-2.0

GPI

ALQURAIN Basic Materials

SME sector a major factor of economic growth in region: Al-Gergawi

High

6,366.95 411 77 411.77 981.58

188

ALKOUT

Wednesday’s lawsuit, one of several that have been filed around the country, was brought in New York on behalf of Dennis Palkon and Brian Roffe, who said they respectively bought 1,800 and 200 Facebook shares at the IPO price, and Jacob Salzmann, who said he paid more than $123,000 on May 18 for 2,961 shares at an average $41.77 each. Research analysts at several underwriters lowered their forecasts for Facebook after the Menlo Park, Californiabased company in a May 9 prospectus cautioned investors about the possible impact of users shifting to mobile platforms. Facebook currently makes little revenue from mobile ads. Citing people with direct knowledge of the matter, Reuters reported this week that, during its IPO road show, Facebook advised analysts for its underwriters to reduce their profit and revenue forecasts. The lawsuit named underwriters Morgan Stanley, Goldman Sachs, JPMorgan and Bank of America Corp as having cut their forecasts after the May 9 prospectus was filed, but that these cuts were not publicly revealed before the IPO. The plaintiff-shareholders called the disclosures of Facebook’s business risks inadequate, saying that analysts knew more about these risks and cut their business outlooks accordingly - for the benefit of only some investors, not all. -Reuters

Volume

Last Closing

6,339.39 409 71 409.71 976.14

0

Oil & Gas

IPO investigations

Low

Closing

190

NAPESCO

provides electronic trading services to brokers and retail clients, foresees a pretax loss of $30 million to $35 million related to the IPO. The company has submitted claims for financial compensation from Nasdaq OMX and is considering all legal remedies available, Knight Capital said in a regulatory filing. Knight Capital’s announcement may be a sign of things to come as other traders and investors tally up losses from the trading problems. Nasdaq OMX was also sued on Tuesday by an investor who claimed the exchange operator was negligent in handling orders for Facebook shares. Morgan Stanley said it is reviewing Facebook trades and would adjust prices for some retail customers who overpaid. A source familiar with the situation told Reuters that NYSE Euronext had opened discussions with Facebook about a potential stock listing there, and that the social networking giant was considering its options. The largest US exchange later denied it was discussing a full listing transfer with the company, which became the first US company to debut with a market value of over $100 billion.

High

-27.56 -2 06 -2.06 -5.44

IKARUS

AREFENRGY

FILE - A videographer shoots the side of Facebook’s Like Button logo displayed at the entrance of the Facebook Headquarters in Menlo Park, California. The fallout from Facebook Inc’s messy initial public offering (IPO) widened on Wednesday, May 24, 2012, as shareholders sued the social network and its bankers while a trading firm revealed a massive loss on the shares and threatened to seek remedies. (AFP)

Change ź ź ź

MARIN IPG

SAN FRANCISCO: The fallout from Facebook Inc’s messy initial public offering (IPO) widened on Wednesday as shareholders sued the social network and its bankers while a trading firm revealed a massive loss on the shares and threatened to seek “remedies.” The Nasdaq stock exchange also came under further pressure as a source close to the situation told Reuters that NYSE Euronext had opened discussions with Facebook about a potential stock listing there. Nasdaq also faces litigation from angry investors. Facebook’s listing, envisioned as a crowning moment for an eight-year-old company that has become a business and cultural phenomenon, has instead turned into a legal and public relations fiasco for the company and its lead underwriter, Morgan Stanley. Serious trading glitches interfered with the stock’s opening on Friday, and subsequent revelations by Reuters that analysts had quietly reduced their revenue forecasts prior to the IPO have led to accusations of selective disclosure of material information. The shares closed at 32 US dollars on Wednesday, 15 percent below the IPO price. A lawsuit filed on Wednesday seeking class-action status alleged that defendants - including Facebook, its Chief Executive Mark Zuckerberg, Morgan Stanley, Goldman Sachs Group Inc and JPMorgan Chase & Co - concealed “a severe and pronounced reduction” in revenue growth forecasts resulting from greater use of Facebook’s app or website through mobile devices. It also accused Facebook of telling its bank underwriters to “materially lower” their forecasts for the company. The lawsuit said the underwriters disclosed the lowered forecasts to “preferred” investors only. “The main underwriters in the middle of the roadshow reduced their estimates and didn’t tell everyone,” said Samuel Rudman, a partner at Robbins Geller Rudman & Dowd, which brought the lawsuit. The firm is among the leading securities class actions firms in the country. “I don’t think any investor in Facebook wouldn’t have wanted to know that information.” Andrew Noyes, a Facebook spokesman, said, “We believe the lawsuit is without merit and will defend ourselves vigorously.” Morgan Stanley had no comment. It said on Tuesday that Facebook IPO procedures complied with all applicable regulations and were the same as in any initial offering. Also on Wednesday, Knight Capital Group Inc said its second-quarter results will be hurt by losses related to numerous issues during the listing. The firm, which

11

FRIdAY, may 25, 2012

Ÿ ŷ Ÿ ŷ Ÿ

Ÿ ź ź

ź ŷ

2.0

0.0

2.0

0.0 1.0

1.0

-5.0 -5.0

5.0

-1.0 0.0

0

0

0

0

0

116

112

155 155,000 000 195,160

17 17,700 700 20,688

17 22

114 1145.44

ź ź

-2.0 20 -3.43

BAREEQ

0

0

0

0

0

0

ŷ

0.0

AFAQ

0

0

0

0

0

0

ŷ

ALSHAMEL

0

0

0

0

0

SAFRE

20

20

1

0

1

AJWAN

0

0

0

0

0

SPEC

0

0

0

0

0

MASAKEN

0

0

0

0

0

HAYATCOMM Technology

DALQAN

0

0

0

0

0

ALEID

94

94

1,000 1 000

94

1

MIDAN FLEX

0 0

0 0

0 0

0 0

0 0

0

ŷ

0

ŷ

20 0

0

0

94

Ÿ ŷ ŷ ŷ Ÿ

0 0

ŷ ŷ

0.0

0.0

1.5

0.0

0.0

0.0

0.0

4.0 40

0.0 0.0

THURAYA

0

0

0

0

0

0

ŷ

0.0

KCLINIC

0

0

0

0

0

0

ŷ

0.0

AMAR Parallel Market

0

0

0 1,001

0 94

0 2

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

0 968.11

ŷ Ÿ

0.0 8.20

STOCKS WITH NBK CAPITAL

12

ALWATAN DAILY friday, may 25, 2012

April 2009 May21, 24, 2012 Rebased RebasedPerformance Performance 115115

113

Bull/Bear Indicator Bull/Bear Indicator

DailyIndex Index Performance Snapshot Daily Performance Snapshot

1% 6%

2% 6% Oman

113

110

111

110

1%

Qatar

2% 0%

95 24-Feb-12 85

24-Mar-12

24-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

-6%-2

19-Apr-0

Composite

1

MENA Indices Highlights Country (Index)

Index Level

% Chg.

52 Wk High

YTD

PE

2,465 5,250

-0.4% -4.0%

2.5% 9.3%

2,775 10,090

2,293 4,130

12 2,183

Qa UAUAE Qatar (DSM Index) (ADSM Index)

8,463 2,695

-0.1% 0.6%

-3.5% 12.8%

8,892 5,148

8,071 2,137

79 122

127,789 69,783

11.57 7.29

Ba Qa Bahrain Qatar(BSE (DSMIndex) Index)

1,145 5,590

0.7% 3.9%

0 196

17,194 65,352

9.05 8.85

Jo Jordan (Amman General Index)

1,896

8

26,345

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

OmOman UAE(MSM (DFMIndex) Index)

410

1,480 406

5,708 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)

4,972

5,478

1,681

9,912

463

1,154

2,825 453

10,621

5,091

1,094 546

Tu Tunisia (Tunis SE Index)* * Market Closed

3,282

-0.5%

1.0%

0.0% 1.8%

9.3% -0.2%

-0.2% 1.9%

0.2% 6.6%

0.1% -18.8%

1.0%

37.3%

5.1%

0.7%

-1.1%

-4.9%

0.4%

0.1%

0.0%

-6.8%

-10.9%

-

8.5%

-1.9%

2.2%

-0.3%

-0.6%

2.4%

-5.0%

-

-

6,082 5,860

396

5 305

3,587

97

2,180

1,879

12,109 2,903

12,203

1,033

1,379

5,044 513

23.6%

739

5,141

2,119

13.6%

4,224

1,572 328

-

1,164

2,551 454

9,406

-

4,091

1,043

-

2,837

-

407

11.92

100,560 65,137 264,263

17,875 37,413

0.70 1.52

9.50

18,727

14.32

67

33,782

12.71

9,816

16.35

63,640

2.82

1.56

6.20

2,459

0.81

2.15

9.02

59,990

1.07

18.36

8,507

2

1.29

7.67

10,369

6

1.53

8.07

52,183

1

1.68

12.48

2 0

1.37

3.95

1.80

6.47

2,079

0.86

8.67

6,576

2.50

13.85

1.92

SAUDI ARABIA *Market Closed

ABABurgan Co. for Well Drilling

KWD 0.780 -13.1% -3.7% KWD 0.265 KWD 0.28 SAR 22.95

225 Saudi Industrial Inv. Grp.

101 Riyad Bank

KWD 1.400 SAR 48.00

-2.8% -8.6%

SAR 24.70

-6.4%

25,056,601 10,535,750

VFQVodafone Qatar (QA)

Turnover (USD)

9,194,525

BREBarwa Real Estate Co. (QA)

343,553,085 5,505,384

201 Basic Industries BO Saudi Boubyan Bank (KUW)Corp. (KSA)

119,955,261 5,194,363

115 (KSA) KFIAlinma KuwaitBank Finance House (KUW)

97,126,838

NBKNational Bank of Kuwait (KUW)

-

Advance/Decline Ratio

7,931 / 5,916

Tadawul Index 52 week High / Low

110

-

Turnover (SAR '000)

1,382,463,098

Market Cap. (SAR '000)

-6.8%

Turnover (USD)

MENA Highest Turnover

ZAI Zain Kuwait (KUW)

62%

% of stocks trading above 1yr avg. price

-0.0345 -8.9%

SAR 13.70

GCC Highest Turnover

88,742,222 64,280,166

7,061 (0.0%)

Tadawul Index (% Chg.)

115

-9.9%

KWD -3.8% Close0.204 % Chg.

EMAEmaar Properties (UAE) Best Performers

Summary

% Chg.

AED 3.56

KFI Kuwait Finance House (KUW)

Rebased Performance

8.0%

Close

UABUnited Arab Bank

0.88 201 CGSaudi Combined Contracting 1.74 BasicGrp Industries Corp. Co.

9.96

15,024

MENA Worst Performers

1.94 FAC CBK CommercialFacilities Bank of Co. Kuwait 1.37 Commercial 1.60 ### Oula Fuel Marketing 0.88 238 Rabigh Petrochem. Co.

10.16 6.87

56,981

4

10.29 9.99

1.00 1.77

8.0%

OMR 0.720

GCC Worst Performers

1.86

1.4%

QAR 21.60

BKMBankMuscat

PB1.43

1.8% 8.6%

KWD 0.710

QGTQatar Gas Transport Co.

PE 16.53 8.15 10.24

31,283 98,547

46

9,747

3,418

Mkt. Cap. 368,627 USD million

19 718

5,419 1,433

1,129 4,230

5,628

90

1,301 316

1,364 12,627

14,635

-7.2%

0.9%

1,754 787

-3.3%

7.0%

-

445

Turnover USD million

2.1% 8.8%

AED 2.85 QAR 6.35

ZAI Zain Kuwait

PB

6.9% 9.8%

QAR 27.25 OMR 0.703

CBDCommercial Bank of Dubai KCB Al Khaliji Commercial Bank

Trailing

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

Ku Kuwait (KSE Weighted Index)

10.0% YTD

USD5.60 0.155 SAR

BRE BarwaEngineering Real Estate&Co. GEC Galfar Contracting

Trailing

Mkt. Cap. USD million

Index 7,061

% Chg.-

52 Wk 5,916 Low

Turnover USD million

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

Level

52 Wk 7,931 High

52 Wk Low

% Chg.

USD 0.950% Chg. 9.2% Close

ITHKingdom Ithmaar Bank 3 428 Hldg. Co.

Period's Liquidity Ratio (PLR x)*

MENA Indices Highlights

Close

4 BARAlbaraka Banking Grp.

Period's Liquidity 1 Ratio (PLR x)

-1

Abu Dhabi

MENA Best Performers

-1%

24-May-12

Tunisia Abu Dhabi

GCC Best Performers

Saudi

Palestine Palestine

90

Kuwait

Dubai Dubai

98

Abu Dhabi

Saudi Qatar

95

-2%

-6%

Qatar Oman

102

-4%

Dubai Oman

Oman Morocco

0%

Kuwait

0%

100

-2% -1%

Qatar Abu Dhabi Bahrain

Jordan Kuwait

105

Kuwait

Egypt Jordan

Return DailyDaily Return (%)(%)

Dubai

0%

Bahrain Bahrain

105

100

4%

Bahrain

Close #N/A

#N/A

% Chg.

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

#N/A

105

Highest Turnover

102 100

100

24-Mar-12

24-Apr-12

S&P GCC Large/Mid Composite

Turnover (SAR) 7020.SSE Etihad Etisalat Co. #N/A #N/A #N/A #N/A #N/A #N/A

1 Al Rajhi Bank

#

#N/A

#

#N/A

#

95 24-Feb-12

Worst Performers

24-May-12

#

#N/A

#N/A

#N/A

#N/A

#N/A

Close

% Chg.

66.75 #N/A

#N/A

#N/A

#N/A

#N/A

#N/A

7020.SSE Etihad Etisalat Co.

66.75 -

#N/A

Saudi SE

Quotes Company Name 1 Al Rajhi Bank

Close 73.25

Daily % Chg.

High -

-

Low

Turnover (SAR '000)

-

-

-

-

1 Alinma Bank

13.05

-

-

-

-

1 Arab National Bank

28.90

-

-

-

-

-

-

2 Almarai Co.

67.25

-

-

Volume ('000) -

52-Week High 82.75

67.25

71.75

48.41

-

16.25

-

33.70

-

% Change

Low

on high -11.5%

YTD 5.4%

12 mths

14.3

25.1%

26,900,000

23.5

39.6%

28.6%

26.60

-14.2%

5.1%

-9.4%

1 Bank AlBilad

26.90

-

-

-

-

-

32.90

17.20

-18.2%

35.5%

39.4%

1 Banque Saudi Fransi

35.80

-

-

-

-

-

40.00

30.00

-10.5%

6.3%

4 Emaar the Economic City

10.85

-

-

-

-

-

13.60

6.20

-20.2%

-

-

-

-

-

-

-

-

1 Bank Al Jazira

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

4 Jabal Omar Development Co. 4 Jarir Marketing Co.

4 Kingdom Holding Co.

2 National Industrialization Co.

2 Rabigh Refining & Petrochemical Co. 1 Riyad Bank

1 Samba Financial Grp.

2 Saudi Arabian Fertilizer Co.

1 Saudi Arabian Mining Co.

2 Saudi Basic Industries Corp. 3 Saudi Cement Co.

5 Saudi Electricity Co.

25.00

11.20

66.75

19.55

153.00 11.00

33.30

21.05

23.60

47.70

179.00

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30.80

-

-

-

-

90.25

-

-

-

-

95.00

13.10

-

-

-

-

1 Saudi Hollandi Bank

27.20

-

-

-

-

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

20.05

-

-

-

-

-

-

-

-

-

-

-

-

22 Saudi Industrial Investment Grp.

Saudi International Petrochemical Co.

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

2 Yanbu National Petrochemicals Co. 7 Zain - Saudi Arabia

23.20 17.35

16.30

-

-

-

-

31.90

13.85

15.75 6.05

32.60

-34.4%

-18.2%

26.90

23.10

-12.3%

1.3%

-

-

28.10

56.75

7.05

-16.0%

21.00 42.40

-10.5%

-

109.75

87.75

-13.4%

-

16.30

-

37.50

98.00

24.25

57.25

12.85

-18.0%

15.50

-23.5%

-

21.30

15.55

-

42.60

33.00

101.75

-

-

-

-

-

106.75

48.40

-

-

-

-

-

83.25

-

-

47.60 8.95

-

-

-

-

-

-

-

35.50

37.00

56.25

11.50

32.7%

-1.4%

44,750,000

11.0

4.9

-1.3%

-11.2%

285,000,000

9.9

2.0

-5.8%

-4.0%

54,582,379

2.4%

-10.4%

1.7%

-7.5%

12.4%

42,930,000

28,490,000

nmf

9.9

46.3

1.5 2.2

1.5

1.7

14.6

8.8%

10,795,680

10.0

1.5

1.8%

-5.2%

7,351,667

10.0

1.4

-6.3%

-9.7%

24,450,000

nmf

1.6

7.4%

-2.5% -8.4%

70.00

-4.7%

18.3%

42.8%

47.40

-41.9%

-30.9%

-23.8%

5.25

-22.2%

61.3%

22.6%

-15.4%

18,562,368

nmf

13,808,250

-17.4%

42.1%

10.2%

41.60

2.0

1.2

22.1%

-5.4%

2.6

10.7

18,439,800

-19.0%

18.6%

27.82

nmf

35,400,000

-24.3%

-8.3%

-0.3%

8.8

0.8

1.6

-9.5%

-5.9%

23.70

18,169,770 40,764,705

9.5%

17.75

21.00

1.2

22.9%

-7.2%

-19.6%

24.45

-

nmf

10.9

7.8

24.3%

25.3%

-

18.55

9,222,500

12,096,000

1.5

9.4

-7.9%

21.42

25.30

44.7%

27.7

17.0

21.7%

29.30

-

9.9%

-17.9%

-

-

-

-15.9%

165.00

-

35.00

-25.1%

200.00

-

-

-7.3%

-

-

1.6

9,180,000

50.75

-

13.10

10.8

7,500,000

40.4%

-

-

32,363,840

46,725,000

108.67

3.7

1.5

-7.4%

29.5%

27.1%

60.9%

1.2

2.0

27.1%

-14.6%

11.0

3.4

19.7

-3.6%

11.10

38.3

8,070,000

25.1%

47.6%

165.00

22.90

24,565,000

54.5%

-

-

19,575,000

-19.1%

50.00

-

-

47.5%

69.25

40.10

35.40

-21.6%

PB

109,875,000

-19.7%

17.5%

Trailing PE

-3.3%

9.05

-6.3%

Market Cap. (SAR '000)

23.3%

14.4% 8.2%

27.8% 5.3%

-0.8%

10,440,000 9,542,500

80,200,000

22.6

21.0 13.4

4.7

1.1

1.7 1.1

9.3

1.6

14,245,000

14.9

5.8

9,801,000

11.7

2.8

17,700,000

35,000,000 26,775,000

12,530,000

13.9

11.7 8.4

nmf

2.1

2.0 2.4

3.2

STOCKS WITH NBK CAPITAL

13

ALWATAN DAILY friday, may 25, 2012

KUWAIT Rebased Performance

Summary

Best Performers 6,339 (-0.4%)

KSE General Index (% Chg.)

115

410 (-0.5%)

KSE Weighted Index (% Chg.)

49%

% of stocks trading above 1yr avg. price

0.11

Advance/Decline Ratio

110

6,492 / 5,694

KSE General Index 52 week High / Low

448 / 396

KSE Weighted Index 52 week High / Low

25,132

Turnover (KWD '000)

101

Turnover (KWD) 7,018,354

Zain Kuwait ZA

1,542,058 1,454,941

K Kuwait Finance House 24-Mar-12

24-Apr-12

314,369

MMabanee Co.

24-May-12

S&P GCC Large/Mid Composite

#N/A

0.9%

-

#N/A

#N/A

1.4%

0.224

0.0%

#N/A

#N/A

#N/A

#N/A

#N/A

Worst Performers

B Boubyan Bank

95 24-Feb-12

-

Highest Turnover

102 100

NIND.KSE National Industries Grp. Holding #N/A

% Chg.

0.710

28,166,762

Market Cap. (KWD '000)

105

Close ZAIN.KSE Zain Kuwait

286,985

B Burgan Bank

Close

% Chg.

ABAR.KSE Burgan Co. for Well Drilling

0.204

OULAFUELOula Fuel Marketing Co.

0.280

-3.5%

JAZEERA.KJazeera Airways

0.405

-2.4%

CBK.KSE

Commercial Bank of Kuwait

CGC.KSE

Combined Grp Contracting Co.

-3.8%

0.780

-3.7%

1.400

-2.8%

KSE Weighted Index

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (KWD '000)

A Agility

0.405

-1.2%

0.405

0.400

131

T Al Themar Intl. Holding Co.

0.086

0.0%

0.086

0.086

6

A AREF Energy Holding Co.

0.124

-1.6%

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

-

0.0%

0.410

287

1.380

244

0.265

8

0.116

0.410

-2.8% -1.9% -

0.0%

0.610 0.214 1.440

0.780 -

0.405

-

-

C Gulf Cable and Electrical Industries Co.

1.320

-1.5%

IK Ikarus Petroleum Industries Co.

0.190

-1.0%

0.190

0.188

JAJazeera Airways

0.405

-2.4%

0.410

0.400

IF IFA Hotels & Resorts

IF International Finance Co.

K KIPCO Asset Management Co.

K Kuwait Cement Co.

0.395

0.096 0.250

-

-2.0% 0.0%

0.415

0.250

-

-17.3%

-5.5%

0.085

-6.1%

17.0%

0.355

0.280

0.132

0.610

0.530

695

0.514

0.410

0.630

2

0.530

-9.2%

-16.9% 0.0%

-3.2%

-19.3%

-6.2%

-6.3%

3.4%

8.9%

-8.2%

122

301

0.533

0.410

-23.1%

0.0%

136.7%

157.8%

-

-

0.495

0.285

-20.2%

-7.0%

-13.2%

2,726

0.162

0.096

-40.7%

0

0.315

0.226

-20.6%

-

18

20

31

0.355

0.116

14

1

1.240

0.214

41

-

0.019

1.600

104

17

0.255

0.142

0.485

-

0.182

0.600

0.415

-25.4%

-17.5%

-11.2% -16.5%

-30.8%

1.9%

-15.6%

-16.8%

11.8% -5.9%

-11.0%

2.5%

-9.8%

33.8

42,764

29.2

992,177

nmf

1.4

1.2

11.4

1.4

0.8

15.0

3.4

1.9

142,242

10.0

0.9

-21.8%

1,079,566

38.3

2.5

3.9%

179,283

nmf

-56.8%

77,077

152,242

277,109

33.8%

110.9% -7.4%

nmf

7.6

1.6

3.7

142,500

16.9

1.0

98,010

9.1

3.6

nmf

65,825

-30.8%

8.3

264,627

0.7

nmf

0.8

18.2

1.7

-22.7%

2,120,040

27.3

1.7

0.265

-1.9%

0.270

0.265

3

11

0.335

0.236

-20.9%

3.9%

-19.7%

274,892

23.2

1.3

0.325

0.0%

0.325

0.320

82

255

0.376

-14.7%

434,387

0.900

-1.5%

-1.1%

1.340

20

1.320

0.920

15

7

0.900

1.620

8

1.320

-18.5%

-10.8%

0.660

-27.4%

26.8%

-23.7%

-2.9%

26.6%

0.281

-13.6%

12.1%

1.060

1.040

263

253

1.109

0.909

N National Industries Grp. Holding

0.224

0.9%

0.224

0.222

199

896

0.275

0.192

-18.5%

-13.8%

N National Real Estate Co.

0.130

0.0%

0.130

0.128

69

529

0.168

0.056

-22.6%

1.6%

-0.9%

0.216

0.216

162

750

0.226

0.186

-4.4%

0.102

22 1

0.285

-

-

0.130

0.0%

-

-

-

-

-

-

0.132

0.260

0.0%

0.265

0.260

63

0.228

-0.9%

0.228

0.224

8

0.170

-

0.104 0.084 2.200 0.710

0.0%

0.295

0.270

0.106

0.0%

0.084

0.084

-0.9%

2.220

2.200

1.4%

-

-

-

0.720

0.700

0.260

0.250

77

0.130

0.355

0.242

241

0.265

0.200

35

0.270

0.216

207

-

127

7,018

0.425

0.325

941

23

-3.5%

0.425

-

122

0.128

0.280 0.216

-

0.136

-6.2%

4,527,638

14.9

-12.2%

290,102

-45.8%

-6.7%

-18.8%

-1.9%

25.0% -0.9%

-15.6%

-13.4%

58

2.480

1.880

-11.3%

-13.3%

280,500

30.0%

-21.1%

-23.5%

0.690

4.0

-24.4%

0.067

1.060

28.8

-16.2%

0.093

0.170

605,077

1.8%

0.097

0.170

28.1%

-12.3%

0.9%

113,908

nmf

-

2.0

1.3

nmf

0.7

0.6

nmf

0.6

23.9

2.3

22.6%

133,308

18.6

1.0

-8.8%

85,071

19.7

0.9

115,600

nmf

237,600

-7.1%

60,198

13.4%

10.0%

1,108,872

-21.1%

1.7

96,932

12.5%

154,124

-33.0%

0.7

30.2 23.2

25.4%

30.8%

14.3

98,273

9.1%

0.0%

1.9

1.3

1187.9%

-48.0%

11.0

32.2

1187.9% 2.2%

530,643 81,814

0.0%

-6.2%

13

9,886

-15.4%

1.240

-1.9%

Z Zain Kuwait

4.3

nmf

-12.4%

1.040

N Wataniya

nmf

-24.2%

0.425

S The Securities House

-25.4%

1.5

295,911

148,811

1.0

5.8

0.690

0.709

A The Commercial Real Estate Co.

-19.8%

1.8

0.963

1.020

T Tamdeen Real Estate Co.

641,161

93,000

10.9%

-14.3%

-2.5%

320

S Sultan Center Food Products Co.

-12.8%

-1.3%

-19.8%

314

S Salhia Real Estate Co.

1,066,424

8.8%

-15.2%

1.182

0.980

A Qurain Petrochemicals Industries Co.

1.7%

0.700

0.990

O Oula Fuel Marketing Co.

230,033

0.920

0.0%

N National Investments Company

-13.2%

97

0.990

N National Industries Co.

nmf

0.5

19.6

1,992

K Kuwait Projects Co. (Holding)

N National Bank of Kuwait

87,075

892,811

1,455

1.320

M Mena Holding

-15.7%

-7.5%

0.720

K Kuwait International Bank

M Mabanee Co.

16.0

-50.8%

1.745

PB

423,969

-3.8%

174

PE

8.0%

-50.8%

0.250

-

0.079

106

267

0.096

0.104

0.560

Trailing

Market Cap. (KWD '000)

0.740

0.730

P Kuwait Portland Cement Co.

0.100

71

0.650

8.0%

0.198

-

1.320

-5.8%

12 mths

0.0%

K Kuwait Finance House F Kuwait Food Co.

-

1.320

0.248

206

73

-

0.410

YTD

0.415

0.760

0.270

on high

2,528

0

0.202

% Change

Low

0.430

50

63

0.600

High

324 -

26

0.415

-3.7%

G Gulf Bank

0.122

0.0%

0.780

G Global Investment House

15 1,542

C Commercial Bank of Kuwait

0.265

0.124

0.295 0.600

-3.8%

F Commercial Facilities Co.

0.295 0.610

0.204 1.400

-

-

0.0%

A Burgan Co. for Well Drilling

C Combined Grp Contracting Co.

-

52-Week

Volume ('000)

30.8%

-31.7%

3,058,350

13.1

1.1

nmf

1.6

16.4

0.6

9.1

10.5

1.4

10.7

1.6

UAE Rebased Performance

Summary

Best Performers 1,480 (0.0%)

DFM Index (% Chg.)

115

2,465 (-0.4%)

ADSM Index (% Chg.)

Advance/Decline Ratio

DFM Index 52 week High / Low

105

2,775 / 2,293 DIB.DFM

ADSM Index 52 week High / Low

Highest Turnover

92

90

S&P GCC Large/Mid Composite

24-Apr-12

E Etisalat

A Arabtec Holding

24-May-12

Abu Dhabi SE

1.1%

1.78

Dubai Islamic Bank

0.6%

0.9%

1.91

0.5%

Worst Performers

A ALDAR Properties

24-Mar-12

1.8%

2.74 1.17

Turnover (AED) 14,568,886 UAB.ADSM United Arab Bank 13,990,859 FGB.ADSM First Gulf Bank 10,315,988 ARKAN.AD Arkan Building Materials Co. 10,237,916 DEYAAR.D Deyaar Development Co.

E Emaar Properties

85 24-Feb-12

% Chg.

2.85

381,887,784

Market Cap. (AED '000)

97

95

114,686

Turnover (AED '000)

102

100

Commercial Bank of Dubai

36% EMIRATES Emirates NBD 0.47 TAMWEEL Tamweel 1,754 / 1,301 ARMX.DFM Aramex

% of stocks trading above 1yr avg. price

110

Close CBD.DFM

8,597,105

TATamweel

Close

% Chg.

3.56

-9.9%

0.78

-1.3%

8.77

0.30

SOROUH.A Sorouh Real Estate Co.

1.03

-1.6% -1.0%

-1.0%

Dubai FM

Quotes Company Name

Close

Daily % Chg.

High

Low

Turnover (AED '000)

A Abu Dhabi Commercial Bank

3.07

-0.3%

3.08

3.05

3,061

T Abu Dhabi National Energy Co.

1.18

-0.8%

1.18

1.18

3

A Air Arabia

0.60

-0.5%

0.60

0.59

1.02

-

A Abu Dhabi Islamic Bank

A Abu Dhabi National Hotels A ALDAR Properties A Amlak Finance

A Arabtec Holding

3.15

2.00

1.07

-0.3% -

-0.9%

2.89

-0.3%

A Arkan Building Materials Co.

0.78

-1.3%

D Dana Gas

0.40

0.0%

A Aramex

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

1.78

2.85 0.30

3.03

D Dubai Financial Market

0.97

D Dubai Islamic Bank

1.91

E Emirates NBD

2.74

E Emaar Properties E Etisalat F First Gulf Bank

G Gulf Cement Co. M Mashreq

N National Bank of Abu Dhabi N National Bank of Fujairah

N National Bank of Umm Al Qaiwain S Sharjah Islamic Bank

S Sorouh Real Estate Co.

0.6%

2.87

10,238

0.78

0.77

0.41

1.78

3.04

8.71

0.0%

1.71

-

-

8.72 -

-9.9%

3.56

* Closing Prices, Turnover and Market Cap. in USD

0.8

1,815 1,883

10

3,321 927

-28.6%

-9.1%

-28.1%

2,000,000

1.45

0.76

-26.2%

16.3%

-20.1%

4,371,088

1.18

-16.4%

90.9%

135.2%

-

0.57 -

-20.8% 0.0%

8.70 -

1.88

-15.5%

4.63

2.65

-40.8%

-

217

-

2,686 -

1.02

6,178

2.88

810

3.56

0

-16.5%

2.26

1,653 100

-

2.80

-33.4%

991

14,569 877

-

3.63

0.20

-12.0%

-25.9%

8.77 8.70

-

0.46

2.67

-9.2%

0.68

4,830

-

3.24

1.69

1.31

13,991 586

1.96

1,862

2.87

3.30

11.20 10.75

1.44

2.41

8.57 6.98

0.67

-

102.00

67.00

-

4.95

3.37

1,652

1.02

0.80

309 -

6,017 7,330 280

487 0

7,448,824

1.98

0.76

2.0%

0.0%

2,792

297

2.9%

2.80

3.00

180

3.56

7.1

1,011

0.37

U United Arab Bank

7,345,500

0.30

8,597

0.37

-4.8%

-11.1%

1.16

2.90

-1.7%

-38.5%

1.19

-0.3%

-13.2%

-0.3%

0.34

0.9%

-0.3%

0.37

-

0.7

-11.3%

0.65

1,421

2.89

U Union Properties

9,656

5.3

6,466

29

0.83

U Union National Bank

1.17

-

4,056

9.00

2.24

1.45 1.49

7.38

3.2%

42.3% 4.8%

2,640,801

-0.2%

2,606,098

5,809,303

13,851,429

11.3

69,732,155 26,310,000

12.0 7.0

1.8 1.0

-4.7%

15,228,303

993,527 -

5.0%

33,747,404

-29.0%

21.2%

-19.5%

2,703,750

0.0%

-16.0%

7,212,356

-2.2%

-20.0%

3,547,189

4.50

3.28

-20.9%

-25.5%

43.0%

-10.0%

0.8

0.9

1.2

8.1

0.9

7.9

0.67

0.4

8.8

2,085,930

2,736,000

27.9%

nmf

13.8 18.5

-10.0% -5.5%

8.7

5,445,000

-5.5%

-25.9%

0.8

-14.0% -0.6%

-23.7%

0.24

1.0

0.5

50.0%

2.82

4.6

2.4

8.9

8.8%

94.0%

nmf

0.3

17,542,767

0.0%

-21.5%

1.4

0.8

-6.2%

-10.3%

2.4%

1.5

0.5

-5.9%

7,252,373

1.1

0.9

4.3

nmf

7,768,000

0.5

7.2

1,750,734

-34.0%

-15.7%

11.7

-0.7%

-27.9%

7.4%

nmf

-37.5%

-34.3% -3.2%

0.6

1,530,000

nmf

-6.8%

70.4%

4.7

1,365,000

-8.2%

-3.4% 13.5%

0.2

10.2

-42.2%

-2.2%

1.1

8.5

2,790,687

14.5

-1.5%

-21.3% -18.4%

6.4

4,536,578

-19.8%

12.1%

-16.0%

0.0%

15.6%

-12.7%

3.90

0.50

-1.1%

-15.8%

1.63

0.53

PB

17,178,484

2,595

0.88 1.04

1.14

2.92

PE

12.5%

0.40

2.85

526

0.0%

-1.0%

1.36

3.55

Trailing

Market Cap. (AED '000)

10.4%

-22.8%

2.69

-

3

45

12 mths

-7.5%

-46.2%

2.74

-

2.69

0.71

1.1%

-

3.32

1.45

1.89

-

998

YTD

134

1.91

67.00

on high

104

1.76

0.5%

8.85 8.90

% Change

Low

3.46

0.97

2.92

-

High

3,536

0.98

1.03

T Tamweel

-

-0.4%

0.1% -1.6%

-

2,414

2.92

-

0.31

8.82 8.77

0.86

-

141

10,316

-1.0%

0.3%

3.10

1.06

1.08

2.85

-0.7%

4.95

-

1.8%

2.88

1.21

3.17

52-Week

Volume ('000)

7.6

1,170,000

12.6

1,242,370

nmf

2.7 0.5 0.4

0.5

4.7

0.7

10.3

1.8

0.5

STOCKS WITH NBK CAPITAL

14

ALWATAN DAILY friday, may 25, 2012

QATAR Rebased Performance

Summary

Best Performers 8,463 (-0.1%)

DSM Index (% Chg.)

115

Advance/Decline Ratio Turnover (QAR '000)

465,317,145

Market Cap. (QAR '000)

% Chg.

27.25

2.1%

15.76

8,892 / 8,071 QNBK.DSMQatar National Bank 286,030 KCBK.DSMAl Khalij Commercial Bank

DSM 52 week High / Low

110

Close

44% BRES.DSMBarwa Real Estate Co. 1.50 QGTS.DSMQatar Gas Transport Co.

% of stocks trading above 1yr avg. price

0.4%

133.90

0.4%

17.30

VFQS.DSM Vodafone Qatar

0.3%

9.72

0.2%

105

Highest Turnover

102 100

Worst Performers Turnover (QAR) 38,363,825 AHCS.DSMAamal Co. 33,480,024 QTEL.DSM Qatar Telecom

V Vodafone Qatar

B Barwa Real Estate Co.

97 95 24-Feb-12

24-Mar-12

24-Apr-12

17,148,692

MMasraf Al Rayan

24-May-12

S&P GCC Large/Mid Composite

17,704,938

Q Qatar Telecom

14,928,775

Q Qatar National Bank

Close

% Chg.

16.30

QIBK.DSM Qatar Islamic Bank

QIIK.DSM Qatar International Islamic Bank DHBK.DSMDoha Bank

-2.2%

114.00

-1.6%

49.60

-0.8%

77.40

-0.9%

57.20

-0.7%

Doha SM

Quotes Company Name A Aamal Co.

Close 16.30

K Al Khalij Commercial Bank

17.30

C The Commercial Bank of Qatar

71.00

E Ezdan Real Estate Co.

20.31

B Barwa Real Estate Co. D Doha Bank

27.25

Daily % Chg.

High

-2.2%

0.3% 2.1%

Low

16.75

16.23

17.37 27.35

Turnover (QAR '000) 4,118

17.02

10,473

26.70

33,480

57.00

403

0.1%

71.00

70.20

6,843

0.1%

20.51

20.11

446

57.20

-0.7%

IQIndustries Qatar

138.10

-0.1%

138.40

137.80

10,248

Q Qatar Electricity & Water Co.

139.50

0.1%

139.60

139.50

1,289

49.60

-0.8%

50.00

49.50

1,544

Q Qatar National Bank

133.90

0.4%

133.90

133.10

14,929

Q Qatar Telecom

114.00

-1.6%

115.90

113.40

17,705

M Masraf Al Rayan

Q Qatar Gas Transport Co.

Q Qatar International Islamic Bank Q Qatar Islamic Bank Q Qatar Navigation

26.90 15.76 77.40

64.00

V Vodafone Qatar

9.72

0.2%

0.4%

-0.9%

0.0%

0.2%

57.20

27.05

15.79

77.60

64.40

26.75

17,149

15.68

9,904

77.20

3,154

63.90

9.98

9.66

52-Week

Volume ('000)

High

on high

250

21.90

14.00

-25.6%

1,239

31.10

26.25

-12.4%

7

67.00

50.00

-14.6%

612

18.00

97

22

85.50

68.00

24.97

0.9

-10.8%

11.7%

11,823,114

9.3

1.8

-12.0%

76.30

-9.3%

-8.2%

112

141.73

122.73

155

123.30

94.31

9.72

7.8

-10.0%

45.50

3,903

10,603,646

-14.0%

56.20

84.40

-9.0%

15.70

31

41

-9.0%

-3.2%

18.1%

22.50

85.30

1.5

0.8%

-3.4%

129.50

41

18.4

-4.3%

148.00

-5.7%

-11.7% -5.5%

3.8%

-0.1%

-8.1%

-3.1%

12.7

17,568,692

1.2

9.2

1.3

53,872,208

nmf

20,175,000

14.1

8,728,581

10.6

4.5

-2.4%

18,289,094

12.8

1.7

7,329,613

10.1

0.7

8,217,288

nmf

1.2

-1.7%

75,955,000

-3.8%

13,950,000

5.5%

7,507,890

7.0%

-24.2%

-16.3%

-24.0%

7.24

0.0%

28.7%

24.0%

20.9%

6,228,000

-2.3%

64.00

-7.5%

PB

8,875,350

-11.7%

9

Trailing PE

-19.5%

-8.5%

-5.5%

Market Cap. (QAR '000)

12.8%

-18.7%

118.80

18.32

12 mths

-15.5%

18.60

28.10

-3.9%

YTD

-17.0%

146.20

630

2,614

16.06

74

636

38,364

% Change

Low

93,693,772

8.7%

36,516,480

1.9

9.8

3.2

10.2

4.6

2.4

11.2

1.7

12.0

2.3

14.4

1.7

OMAN Rebased Performance

Summary

Best Performers 5,708 (-0.2%)

MSM Index (% Chg.)

115

47% OCOI.MSM Oman Cement Co.

% of stocks trading above 1yr avg. price

0.20

Advance/Decline Ratio Turnover (OMR '000)

6,874,704

Market Cap (OMR '000)

% Chg.

0.67

NBOB.MSMNational Bank of Oman

6,082 / 5,419 OTEL.MSMOman Telecommunications Co. 2,107 RCCI.MSM Raysut Cement Co.

MSM 52 week High / Low

110

Close

BKMB.MSMBank Muscat

0.2%

0.29

0.0%

1.30

-0.2%

0.59

-0.9%

1.24

-0.6%

105

Highest Turnover

102 100

100

Worst Performers Turnover (OMR) 375,336 BKDB.MSMBank Dhofar 310,102 RNSS.MSMRenaissance Services

R Renaissance Services

B Bank Muscat

190,154

O Oman Telecommunications Co.

95 24-Feb-12

24-Mar-12

24-Apr-12

24-May-12

S&P GCC Large/Mid Composite

92,530

R Raysut Cement Co.

73,256

N National Bank of Oman

Close

% Chg.

0.45

-1.3%

0.52

BKMB.MSMBank Muscat

-1.0%

0.59

RCCI.MSM Raysut Cement Co.

OTEL.MSMOman Telecommunications Co.

-0.9%

1.24

-0.6%

1.30

-0.2%

Muscat SM

Quotes Company Name

Close

B Bank Dhofar

0.450

N National Bank of Oman

0.289

O Oman Telecommunications Co. R Renaissance Services

B Bank Muscat

0.585

O Oman Cement Co.

R Raysut Cement Co.

Daily % Chg.

High

-1.3%

-0.9%

Low

0.450

0.450

0.590

0.582

Turnover (OMR '000)

Volume ('000)

5

52-Week High

10

310

Low

0.522

530

% Change on high

0.423

0.671

0.565

-13.8%

-1.2%

62.5%

254

0.324

0.286

-10.8%

1.304

-0.2%

1.307

1.300

190

146

1.425

1.041

-8.5%

0.515

-1.0%

0.513

375

729

1.235

-0.6%

0.670

1.236

1.230

0.517

38

56

93

0.693

75

0.416

1.250

0.711

0.950

0.458

-4.0%

56.0%

73

0.675

-7.4%

-2.7%

0.288

0.2%

-12.1%

-12.2%

0.289

-45.8%

12 mths

-1.1%

-12.8%

0.0%

0.674

YTD

-0.4%

-5.5%

Market Cap. (OMR '000)

Trailing PE

PB

495,052

12.3

320,219

8.9

1.2

8.5

2.2

nmf

0.9

-4.4%

1,051,124

18.9%

223,008

16.2

247,000

14.7

20.0%

978,000

16.1%

-45.8%

145,279

2.2

8.5

1.2

1.6 2.5

BAHRAIN Rebased Performance

Summary

Best Performers 1,145 (0.7%)

BSE Index (% Chg.)

115

Advance/Decline Ratio

1,364 / 1,129 AUB.BSE 139 #N/A

BSE 52 week High / Low

110

Close

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

% of stocks trading above 1 yr avg. price

Turnover (BHD '000)

6,482,186

Market Cap. (BHD '000)

#N/A

% Chg.

0.95

9.2%

0.16

Ahli United Bank

6.9%

0.60

#N/A

0.0%

#N/A

#N/A

#N/A

#N/A

#N/A

105

Highest Turnover

102 100

Worst Performers Turnover (BHD) 19,990 AUB.BSE Ahli United Bank 19,040 ITHMR.BSE Ithmaar Bank

IT Ithmaar Bank

99

B Bahrain Telecommunications Co.

9,981

A Ahli United Bank

95 24-Feb-12

24-Mar-12 24-Apr-12 S&P GCC Large/Mid Composite

4,915

B Albaraka Banking Grp.

24-May-12 Bahrain SE

-

A Arab Banking Corp.

Close

#N/A

0.0%

0.95

9.2%

0.16

BARKA.BS Albaraka Banking Grp.

ABC.BSE

% Chg.

0.60

Arab Banking Corp.

0.46 -

#N/A

#N/A

6.9%

#N/A

Quotes Company Name

Close

Daily % Chg.

High

A Ahli United Bank*

0.600

0.0%

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

0.950 0.090

9.2% -

0.476

0.0%

797

-

0.390

-

0.155

6.9%

0.234

-

0.560

-

Low

0.600

0.600

-

-

0.950 -

0.950

Turnover (BHD '000) 26 -

-

-

-

-

0.476

0.476

-

-

-

-

-

-

0.155

0.150

-

-

-

Volume ('000)

-

44

13 19

-

53

-

14

40

52-Week High

% Change

Low

on high

YTD

Market Cap. (BHD '000)

0.676

0.599

-11.2%

-0.5%

0.530

0.420

-13.2%

9.5%

-2.1%

21.4%

0.0%

0.0%

-30.0%

637,560

-2.6%

-5.1%

479,002

1.020

0.106

0.486

0.420 797

0.857 0.082 0.380

-6.9%

-15.1%

0.388

-7.1%

797

1.7%

0.0%

-5.8%

346

0.240

0.065

-35.4%

138.5%

-

0.424

0.234

-44.8%

-22.0%

-

12 mths

0.600

0.545

-6.7%

-9.4%

3,140,133

-19.3%

1,430,600

-6.9%

-21.1%

3.5%

-7.1%

82.4%

-31.2%

Trailing PE

PB 9.9

1.2

963,751

8.0

0.8

84,571

nmf

0.8

332,029

10.4

685,440

415,053

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

Signs that baby is in pain

Babies aren’t able to communicate verbally, but they can let you know when they’re in pain. The University of Michigan Health System says parents should be on the lookout for these warning signs of infant pain: • Facial expressions, including grimacing, furrowing the brow, squeezing eyes shut, opening the mouth or having deep lines form around the nose. • A high-pitched, insistent cry that lasts longer than usual, although some very sick babies may be too weak to cry at all. • Stiffness throughout the body, or flailing and squirming. Some very sick or premature babies may appear limp. •Behaving irritably and not responding to comforting or feeding. •Not eating or sleeping.

friDAY, may 25, 2012

Sneezing monkey, Spongebob mushroom top new species list NEW YORK: The realm of living things known to science gained some fascinating new members in the past year. These include a monkey that sneezes when it rains; a tiny worm discovered nearly a mile below ground; a mushroom that looks more like a sponge and the first night-blooming orchid ever recorded. These strange organisms and others made the top 10 list of species described in 2011. The International Institute for Species Exploration at Arizona State University and an international committee of scientists issued this list for the fifth year, a date coinciding with the birthday of Carolus Linnaeus, the Swedish botanist who created the modern system for naming and classifying living things. The list is intended to honor the work of explorers and museum scientists who continue to discover new plants, animals, fungi and microbes. Its other purpose is not a celebratory one. The list is also intended to highlight the diversity of life on the planet, which is declining due to extinctions. In fact, scientists have said we are in the midst of the sixth mass extinction event triggered by human activities. More than 200 species were nominated, and committee members selected those that could best capture attention. “Some of the new species have interesting names; some highlight what little we really know about our planet,” Mary Liz Jameson, an associate professor at Wichita State University who chaired the international selection committee, said in a statement. Since 2000, an average of 36 new mammals have been discovered each year. This year’s mammal tally includes top-10 awardee Rhinopithecusstrykeri, a snub-nosed monkey with mostly black fur, a white beard and a penchant for sneezing in the rain. The committee also named tiny worms discovered 0.8 miles (1.3 kilometers) underground in a South African gold mine to the list. It became the deepest-living terrestrial multicellular organism known. The species was named Halicephalobus

FILE - A previously unknown type of snub-nosed monkey, discovered in northern Myanmar and dubbed Rhinopithecus strykeri, has a nose so upturned that the animals sneeze audibly when it rains. (Agencies)

mephisto in reference to the Faust legend of the devil. A giant millipede about the size of a sausage takes the title of largest millipede found in one of the world’s biodiversity hotspots, Tanzania’s Eastern Arc Mountains. The only night-blooming orchid ever described, which opens its flowers around 10 p.m., also made the list, as did a species of fungus that produces a mushroom that smells fruity and resembles a sponge. It was named Spongiforma squarepantsii for the cartoon character SpongeBob SquarePants.

Not all members of the list are currently alive. The “walking cactus” is a 520-million-year-old animal dubbed Dianiacactiformis that appears to link an extinct group of wormlike creatures called lobopodians to modern arthropods, including insects, crustaceans and spiders. “The more species we discover, the more amazing the biosphere proves to be, and the better prepared we are to face whatever environmental challenges lie ahead,” Quentin Wheeler, an entomologist who directs the International Institute for Species Exploration at ASU, said in a release.

Device may let humans communicate with dolphins NEW YORK: A new dolphin speaker device could one day help us talk with these remarkably intelligent life forms, scientists say according to LiveScience. Dolphins live in a world of sound far beyond our own. They can distinguish very small differences in the frequency or pitch of sound waves, and can hear and generate low-frequency sounds below 20 kilohertz that lie within human capabilities, as well as high-frequency sounds of up to more than 150 kilohertz, well beyond the range of our hearing. In addition, dolphins not only can produce tones just as humans do, but they can also communicate at a variety of frequencies simultaneously. With whistles, burst-pulse sounds and clicks, dolphins use sound not only to communicate and to scan their surroundings and prey in the dark sea (called echolocation). Acoustic research of dolphins to date has mostly focused on recording their sounds and measuring their hearing abilities. Relatively few audio playback experiments have been attempted,

Scientists find new sensory organ in whales PARIS: Biologists on Wednesday reported they had discovered a new sensory organ on blue, humpback, minke and fin whales that helps explain why these mammals are so huge. In a study appearing in the journal Nature, researchers in the United States and Canada said the organ is located at the tip of the whale’s chin, in a niche of fibrous tissue that connects the lower jaw bones. Comprising a node of nerves, the organ orchestrates dramatic changes in jaw position that are essential for “lunge” feeding by the rorqual family of whales, Earth’s biggest vertebrates. These whales plunge into banks of krill, gulping up tons of water at one go and filtering it in seconds to get the tiny crustaceans needed for food. A 50-ton fin whale, the second-longest whale on the planet, can swoosh through 80 tons of water in one operation, netting 10 kilos (22 pounds) of krill in the process. The lunge requires “hyperexpandable” throat pleats, a Y-shaped cartilage structure connecting the chin and a lower jaw, made of two separate bones that move independently. “In terms of evolution, the innovation of this sensory organ has a fundamental role in one of the most extreme feeding methods of aquatic creatures,” said Bob Shadwick of the University of British Columbia in Vancouver, Canada. “Because the physical features required to carry to carry out lunge-feeding evolved before the extremely large body sizes observed in today’s rorquals, it’s likely that this sensory organ -- and its role in coordinating successful lunging -- is responsible for rorquals claiming the largest-animals-on-Earth status.” -AFP

since it is difficult to find speakers that can project from a wide range of low to high frequencies like dolphins do, said Heidi Harley, a comparative cognitive psychologist at New College of Florida in Sarasota, who wasn’t involved in developing the dolphin speaker. Now scientists have developed a prototype dolphin speaker that can project the full range of all of the sounds dolphins make - from those used in communication to echolocation clicks. The researchers employed piezoelectric components that convert electricity into physical movement and vice versa. These components were capable of broadcasting both high-frequency and low-frequency sounds. The researchers precisely tailored the sizes of these components and the acrylic disk to create an extremely broad range of sounds. “I am happy if we can communicate with dolphins using the dolphin speaker,” researcher Yuka Mishima at the Tokyo University of Marine Science and Technology told LiveScience.

The dolphin speaker was developed just a few weeks ago, so dolphin scientists have not had a chance to try it out yet. Mishima and colleagues plan to work with such scientists using the new speaker. The idea is to broadcast specific series of vocalizations and then record the responses; over time, this back and forth could someday both reveal what dolphins are “saying” and allow possible human-dolphin communication. “We know very little about how dolphins classify their own sounds - we need more perceptual studies to find out, and this equipment may help us do that,” Harley told LiveScience. As to whether or not this invention could one day result in a human-dolphin translator device, “I think we have a lot to learn about dolphin vocalizations - their productions are complex,” Harley said. “There is still a lot of basic perceptual and acoustic analysis that needs to be done before we can make strong claims about how dolphins are using their vocalizations.”

Climate scientists say warming could exceed 3.5 C

PARIS: Climate researchers said Thursday the planet could warm by more than 3.5 degrees Celsius (6.3 degrees Fahrenheit), boosting the risk of drought, flood and rising seas. The UN’s target is a 2 C (3.6 degree Fahrenheit) limit on warming from preindustrial levels for manageable climate change. In a report issued on the penultimate day of new UN talks in Bonn, scientists said Earth’s average global temperature rise could exceed the dangerous 3.5 C (6.3 F) warming they had flagged only six months ago. Marion Vieweg, a policy researcher with German firm Climate Analytics, told AFP the 3.5 C (6.3 F) estimate had been based on the assumption that all countries will meet their pledges, in themselves inadequate, to reduce greenhouse-gas emissions. New research has found this is not “a realistic assumption,” she said, adding that right now “we can’t quantify yet how much above” 3.5 C (6.3 F) Earth will warm. The monitoring tool is called Climate Action Tracker (CAT), a joint project of Climate Analytics, Ecofys and the Potsdam Institute for Climate Impact Research in Germany. Her colleague, Bill Hare, said the gap between countries’ promised interventions and the reality was “getting bigger.” Projections are for greenhouse-gas overshoot of between nine and 11 billion tons per year beyond the annual 44-billion-tonne ceiling needed by 2020 to achieve the 2 C (3.6 F) target. At the moment, the world emits about 48 billion tons of these gases, including CO2 and methane. The United States accounts for six billion tons, China seven and the European Union (EU) five, the CAT said. The 195 parties to the UN Framework Convention on Climate Change (UNFCCC) are meeting in the former German capital of Bonn for the first time since they agreed in Durban, South Africa, last December to forge a new global pact. The accord would be completed by 2015 and take effect in 2020. -AFP

Italy doctors save baby with smallest artificial heart

ROME: Italian doctors have saved the life of a 16-month-old boy by implanting the world’s smallest artificial heart to keep the infant alive until a donor was found for a transplant. The doctors at Rome’s Bambino Gesu hospital said the operation was carried out last month and made public this week. The baby, whose identity has not been disclosed, was kept alive for 13 days before the transplant and is now doing well. The baby was suffering from dilated myocardiopathy, a heart muscle disease which normally causes stretched or enlarged fibers of the heart. The disease gradually makes the heart weaker, stopping its ability to pump blood effectively. “This is a milestone,” surgeon Antonio Amodeo told Reuters television, adding that while the device was now used as bridge leading to a transplant, in the future it could be permanent. Before the implant, the child also had a serious infection around a mechanical pump that had been fitted earlier to support the function of his natural heart. “From a surgical point of view, this was not really difficult. The only difficulty that we met is that the child was operated on several times before,” he said. The tiny titanium pump weighs only 11 grams and can handle a blood flow of 1.5 liters a minute. An artificial heart for adults weighs 900 grams. Amodeo said the baby had become family and his team wanted to do everything to help him. “The patient was in our intensive care unit since one month of age. So he was a mascot for us, he was one of us,” the doctor said. “Every day, every hour, for more than one year he was with us. So when we had a problem we couldn’t do anything more than our best,” he said. Doctors said the device, invented by American Doctor Robert Jarvik, had been previously tested only on animals. The hospital needed special permission from Jarvik and the Italian health ministry before going ahead with the procedure. -Reuters

Babies know what’s boring, study finds

NEW YORK: Babies may be sponges for learning new information, but they are indeed active sponges, with new research showing that babies as young as 7 months are able to parse out the too-complex and downright boring, homing in on situations with just the right amount of “wow, how interesting” learning potential according to LiveScience. The study results, detailed this week online in the open-access journal PLoS ONE, provide evidence for an idea about baby cognition that makes intuitive sense, said lead study author Celeste Kidd, a doctoral candidate in brain and cognitive sciences at the University of Rochester. The thinking goes that babies organize their search for information in the world in a way that makes the most sense for efficient learning. If a baby looks at something and it seems too simple, suggesting there’s not much learning value, he or she won’t pay attention to that situation or object, Kidd told LiveScience during a phone interview. The same seems to play out for stuff that’s too complex, which would seemingly hold a trove of learning potential, but which is actually not an efficient use of their brain time. Baby’s gaze

In the study, Kidd and her colleagues tracked the attention patterns of 72 babies, ages 7 to 8 months, using an eye-tracking device just below a computer screen. As long as the babies stared at the screen, the events being played out continued; but as soon as they looked away, suggesting no more interest, the trial ended. The nonverbal participants quickly realized they were in charge, so if they wanted to continue watching, they just needed to keep their gaze on the screen. In one of the experiments, the infants watched video animations of items, such as

a pacifier or ball, being revealed from behind three colorful boxes. In dozens of trials, the researchers varied when and where the objects would appear on the screen, with the more complex sequences being the least predictable. (For instance, a shoe may pop out of a pink box 10 times and then a blue box opens and a plane pops out, or the plane might pop up 100 times.) Inside a baby brain

The researchers used a computer model to figure out which patterns would be too predictable and those that would be way too complex. Essentially, the model acted like the researchers would expect an infant’s brain to behave, going into a new situation not knowing a thing, meaning equally expecting an object to pop up behind any of the three boxes; over time, these expectations get updated based on prior observations. Across two similar experiments, babies consistently lost interest when the video became too predictable, which meant the probability of a subsequent event happening was very high. For instance, if the shoe had popped up 20 times prior, it would be highly likely to pop up again, a subsequent event. “You would think that the more complex something is, the more interesting it would be. That’s not the case with babies,” study researcher Richard Aslin of the University of Rochester said in a statement. The infants’ attention and eye gaze, also drifted away when the sequence of events become too surprising, when the pattern seemed unpredictable due to the probability of something happening becoming very low. So if your little one is getting fussy by the little dance you’re doing, change it up and add another move or sound to boost the learning potential.

A telescope in Hawaii has captured a spectacular new view on a distant nebula, revealing a glowing swirl of gas that is at the center of an unsolved mystery surrounding the nebula’s birth. The photo from the Gemini North telescope in Hawaii shows the complex planetary nebula Sharpless 2-71, which is located about 3,260 light-years from Earth in the constellation Aquila (The Eagle). Planetary nebulas form when a star like our sun exhausts its hydrogen fuel. The star’s outer layers expand and cool, creating a huge envelope of dust and gas. Radiation flowing from the dying star ionizes this envelope, causing it to glow. Rather, the term refers to their superficial resemblance to giant planets, when observed through early telescopes. For decades, astronomers assumed that Sharpless 2-71 (Sh2-71 for short) formed from the death throes of an obvious bright star near the planetary nebula’s center, which is prominent in the new photo. But now some researchers aren’t so sure. New observations have suggested that a dimmer, bluer star - visible just to the right and down from the bright central star - might actually be the nebula’s “birth parent,” researchers said. The brighter central star - which is actually part of a binary system - doesn’t appear to radiate enough high-energy ultraviolet light to account for the nebula’s intense glow, the reasoning goes, whereas the bluer star likely does. The strange and beautiful Sh2-71 has already attracted a fair bit of scientific attention, but more work needs to be done before researchers get a good handle on the mysterious object’s history. (AFP)

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ALWATAN DAILY

CULTURE

fridAY, may 25, 2012

Sultan Gallery showcases work by Kuwaiti artist Nadia Al-Foudery Onilda Fernandes Staff Writer

KUWAIT: “This exhibition presents my world view in black, white, and sometimes a little pink,” said Nadia Al-Foudery of her latest work currently being displayed at the Sultan Gallery. Canvasses of varied zebra patterns line up the walls, interspersed with intricate embroidery, creating intriguing works of art. “In Greek mythology, the illegitimate child of Aphrodite (The Goddess of love) and Ares (The God of War) was a female named “Harmony”. For me, Zebras represent the secret affinity of opposites, the meeting point of dual forces, the light and darkness in all of us,” explained AlFoudery to Al Watan Daily. Swapping her camera for a needle and thread years ago, this Kuwaiti artist was one of the few who truly appreciated the traditional facets of photography. “I am not criticizing the computer or Photoshop techniques but I like doing something with my hands, I enjoy the physical contact.” Though photography was an interest Al-Foudery harbored for many years, somehow, when digital photography became a norm, and the dark room was all but obsolete, she didn’t find the interest creatively satisfying anymore. “In my opinion, digital photography changed the very meaning of clicking shotswhat are supposed to be truthful, magical and honest photographs hardly exist today. They may as well be paintings using photographic mediums.” Eventually, Al-Foudery stopped clicking photographs and started to sew, using her hands to play with thread and fabric. The initial phase of new found interest saw her sewing pictures, books, letters, experimenting with a variety of materials. Embroidery is undoubtedly a magnificent byproduct of sewing, which began sometime in prehistory, possibly when pieces of animal hide were attached together into a crude garment. The beauty of such exhibitions testifies to the human need to refine and perfect, turning a means of survival into a sublime vehicle of expression. Al-Foudery utilized this technique to cre-

Some of Nadia Al-Foudery’s work on display at the Sultan Gallery.

ate her own statement in Kuwait. Using photographs and embroidery, her present exhibition follows two dynamic prior showings at the Sultan Gallery. Her first exhibition in Kuwait, “Yazd: A Thread of Light Through the Bazaar,” showcased abstract photo-embroideries from the bazaar in the mud brick town of Yazd in Iran, and her second “A Requiem for Old Kuwait,” highlighted the heritage buildings that have been knocked down in the last fifty years to make way for new commercial developments. Al-Foudery’s work has also been widely exhibited outside of Kuwait, including at the Benaki Museum of Islamic Art in Greece, where she now lives between Athens and Amorgos Island.

“Savage Donkey”, her current exhibition began with Al-Foudery clicking photographs at the Kuwait zoo. Inspired by architecture, the black and white zebra stripes are what attracted the artist to this project. “It was instinct, I didn’t even think about it. The colors and stripes could represent a lot of things. Beginning - end. Man woman. Life - death. Love - hate. Mother - child. Attraction - repulsion. Health - sickness. Poverty - wealth. Youth - old age. Intimacy - distance. Passion - apathy. Fertility - sterility. Harmony - chaos. War - peace. And so on ...Dual forces can be symbolized by the black and white of the zebra. This duality defines life,” insists Al-Foudery, seamlessly admitting that her nature often tends to be extreme. “I can be either polite or

rude, soft or very hard, nothing in the middle. I am a little schizophrenic that way, so these Zebra animal prints helped me understand myself a little better.” Al-Foudery also acknowledged the fact that though Zebras have very striking patterns; their bodies by itself are quite awkward, and not very impressive. Yet, humans don’t domesticate them. “These animals just refuse, they wont, they can’t. A horse on the other hand, though considered taller, beautiful and more powerful, humans do tame them. Zebras are the only members of the Equus family still living wild. They cannot be tamed for use by humans, and remain free by nature. This fact is the inspiration for the title of the exhibition,

Cuban surrealist Lam painting tops Latam art sale NEW YORK: A painting by Cuban surrealist Wifredo Lam, named for an African Yoruba goddess also worshipped in the Caribbean, led Sotheby’s strongest Latin American evening art sale ever on Wednesday night. Setting an auction record for Lam, the 1944 “Ídolo (Oya/Divinité de l’Air et de la mort),” fetched $4.56 million from a South American collector, more than doubling the late artist’s previous top market price. “We were thrilled with the new record price achieved for Wifredo Lam, which was one of nine new artist records set during the Wednesday evening auction,” said Axel Stein, head of Sotheby’s Latin American art department. Lam fused surrealism with santeria, which like Haiti’s voodoo, borrows from the Yoruba pantheon. Within the painting, at least six of the santeria deities can be discerned, said Stein of the work, populated by human-animal hybrids. An Afro-Cuban, Lam’s godmother was a santeria priestess. But the artist began to explore the religion in his work after a 1940 trip to Haiti and Cuba with French surrealist leader Andre Breton. Lam died in 1982. Overall, Sotheby’s Wednesday sale achieved a total of $21.8 million, its highest-ever result for an evening sale of Latin American art. Demand was brisk for Venezuelan art, with records set for three of its 20th century artists: Jesus Rafael Soto, Armando Reveron, and Gertrudis Goldschmidt, also known as Gego. Soto’s top-priced work, which sold for $1.02 million, was “Sin Titulo (Vibración Amarilla Y Blanca),” consisting of paint and metal wires on masonite, executed in 1960. Reveron’s record was his 1946 “Desnudo detras de la mantilla,” a 1946 work of tempera, chalk and charcoal on burlap. It sold for $872,500. Goldschmidt’s 1985 “Dibujo sin papel,” made of steel rods and threads, set a record for the artist, fetching $602,500. For Sotheby’s, the auction’s biggest disappointment was the failure to sell of the top lot, Mexican Diego Rivera’s 1939 painting “Niña En Azul y Blanco.” Sotheby’s pre-sale price range estimate was between $4 million to $6 million.

An undated handout photo shows Chilean artist Matta’s 1944 “La revolte des contraires,” to be sold at Christie’s Latin American art sale on Tuesday evening in New York. (Reuters)

But the highest bid Wednesday evening for the painting was $3.7 million, falling short of the minimum, or “reserve,” price set by the seller. However, soon after the auction ended two Latin American buyers stepped forward to see if they could negotiate to buy the work, an oil on canvas, said Stein. “We’re working hard on finding a home for (it),” Stein said. He said the work may be sold within the next few days. -Reuters

Gnawed Roman skeleton that inspired Sylvia Plath poem goes on display Sarcophagus containing bones of Roman woman and rodents that chewed her ankle go on show at Cambridge museum

LONDON: The skeleton of a Roman woman and the bones of the mouse and shrew that gnawed her ankle in her coffin, inspiring one of Sylvia Plath’s most haunting poems, have gone on display according to The Guardian. Plath saw the massive stone sarcophagus and its contents soon after it was excavated in the 1950s, when she was a student at Cambridge. Staff at the university’s Museum of Archaeology and Anthropology mounted the rodent bones on a piece of card - also on display again - and showed them in the coffin alongside the remains

FILE - The Roman skeleton that inspired Sylvia Plath. It had been taken off display due to overcrowding. (Agencies)

of the middle-aged woman, which is grimacing as if in pain. The viewing prompted Plath’s 1957 poem All the Dead Dears, in which she describes “this antique museum-cased lady” and the “gimcrack” bones of the rodents “that battened for a day on her ankle-bone”, and fears that the “barnacle dead”, strangers or members of her family will drag her down and suck her life away. Six years later, the poet killed herself. The sarcophagus, with its inner lead coffin, was one of a group of high-status burials discovered by chance by builders clearing land for a housing estate at Arbury, on the outskirts of Cambridge. The curator, Mark Elliott, said: “People see the wealth of finds from Arbury, and the classical imagery and Latin inscriptions all over our buildings, and think - wow, Roman Cambridge must have

been really something. But the truth is, the money was at places like Arbury, from anything we’ve found Roman Cambridge was a crossroads if that, a Little Chef halt on the main road to somewhere more important.” Donations to the Cambridge museum have poured in from around the world The sarcophagus was taken off display a generation ago due to overcrowding. Donations to the museum, founded in 1884, have poured in from academics and wealthy former students around the world, who have sent crates containing items such as a South Seas dragon with Chinese tea bowls for eyes; a group of freeze-dried 500-yearold potatoes from Peru; and a mysterious object believed to be a Viking ironing board. Other unusual Roman finds include a pot considered so obscene by Victorian excavators that it was not listed among the discoveries from the site in Great Chesterford, Essex. The pot, believed to have been made near Peterborough, shows naked women driving a carriage pulled by four penises, with phalluses floating overhead. Speculation that the item was a good luck symbol or fertility charm have been put forward, but the museum’s director, Nick Thomas, is convinced the pot was created as a bawdy joke. “Other almost identical pots, but with conventional versions of the scene, are known. I think you’d have put the two side by side and people would have roared,” he said. Although twice as many objects are on display in the remodeled galleries, they represent less than 1% of the collection. The museum’s most precious new acquisition is a front door, the first in its 99-year history on the present site. The old entrance was a narrow, arched doorway in a turret in the corner of a courtyard. “The old entrance had its charm,” Elliott admitted, “but we don’t want to be Cambridge’s best-kept secret anymore.”

“Savage Donkey,” which is a literal translation of the Arabic word for “zebra”,” shares Al-Foudery. Each of her seven pieces on display is different and the artist hopes they have something to say to the viewer, who can derive their own connotation. “There is no connection between any of the works. I am not a logical person that way. I have left it to the individual to form an opinion. The one picture which has the two zebras intersecting could mean anything from mother and child, man and woman to a mirror, an entrance into something or an exit from something. Everyone sees things differently and I like people gauging what they wish, that’s why I don’t title my artworks.”

In Iraq, a clash of treasures past, present and future BABYLON, Iraq: In the ancient city of Babylon, once home to the fabled Hanging Gardens, an extended oil pipeline has churned through the dirt and dug up a conundrum: which takes precedence, preserving Iraq’s heritage or developing its oil wealth? The definitive answer will probably be decades coming. But for the moment, oil appears to have the edge. The site of ancient Mesopotamia, said by some to be the birthplace of writing, agriculture and written law, Iraq holds many keys to the history of civilization. It’s a point of pride for Iraqis, but so are the riches it earns from oil. Mariam Omran Musa, who manages the Babylon site for the State Board of Heritage and Antiquities, lobbied hard for the Babylon pipeline to be redirected, but failed and is now suing the ministry. The oil ministry insists it worked at a painstakingly slow pace so as to protect any undiscovered treasures, and kept to the area between the outer and inner fences of the site. It has since promised to shift the pipeline’s route away from Babylon once it finds a new route, which even oil experts find hard to believe now the pipe has been laid. “Oil and antiquities are both national wealth, but I have an opinion: when the oil is gone, we will still have antiquities,” Musa told Reuters as she stood near the buried pipeline, the tracks of construction vehicles still visible. “This is a violation against antiquities because even a heavy vehicle driving here is considered a breach, let alone extending a pipeline.” Heritage experts are now shifting their attention to other locations, hoping to classify and protect an estimated 20,000 sites before they are damaged by government agencies trying to rebuild an economy ravaged by years of war and sanctions. So far, about 12,000 archaeological sites have been discovered - some 700 in Baghdad alone - but heritage officials say they are exposed to regular damaging incursions. Nuri Kadhim, head of the Baghdad Antiquities department, is not optimistic that the government will give the issue the attention it deserves given its other priorities. “The state’s projects will not stop. On the contrary they are increasing,” he told Reuters. “I expect many violations to take place unless there is an instruction from the government to demand agreements (with the heritage board) before starting these projects.” Next Oil Superpower

The oil ministry says that the pipeline projects are essential to advance the country’s goal of becoming a global oil superpower, alongside Saudi Arabia and Russia. While many experts say that goal is too ambitious, Iraq is still expected to be the biggest source of new oil in the world over the next few years. The Babylon pipeline, which comes into service in June, aims to supplement two pipelines into Baghdad that are old and in poor condition. The pipeline carries around 45,000 barrels of fuel per day from Basra in the south to the capital for domestic consumption. For Iraqis like Baghdad-based oil analyst Hamza Al-Jawahiri, rebuilding the country’s shattered infrastructure is just too important to be held up by archaeologists in a country covered in ancient sites. “I believe these (campaigns) can hinder development,” Jawahiri said. “Besides, all of Iraq contains antiquities. Does that mean we should stop rebuilding?” The sheer number and ubiquitousness of sites is a daunting issue for archaeologists, too. Qais Hussein Rasheed, head of the State Board of Heritage and Antiquities, said the board needed 17,000 more guards and 750 antiquarians as well as an “army” of legal staff to fend off oil and other investment projects. “We have antiquities in every village, every town. That puts us on the constant defensive when facing the ignorance we sometimes find among people and with investment projects,” Rasheed told Reuters. “The ancient sites in Iraq suffer from different kinds of violations because of weak protection, lack of support (from the government) and the retreat of this sector in the state’s priorities,” he said. The ministry says that it asked the heritage board to help it with the pipeline but the board refused. “Definitely we are keen to preserve antiquities but when an oil crisis erupts who would be held responsible? The board of heritage and antiquities? These are projects of national interest,” said oil ministry spokesman Asim Jihad. Kadhim of Baghdad Antiquities reluctantly admits the very richness of the country’s heritage may be part of the problem. “Sometimes a person has so many shirts and trousers he does not take care of them,” he said. “When he has only one shirt he will wash it and iron it very carefully.” -Reuters

ALWATAN DAILY

entertainment Song Of The Day

friDAY, may 25, 2012

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American Idol crowns bluesy Georgia guitar man, Phillip Phillips

Fahad AlSabah Staff Writer

Song: kill Artist: iamamiwhoami Album: kill - Single Genre: Alternative In short: “kill” is the latest release of iamamiwhoami’s kin chronicle. The audio-visual album will be released mid June, but the artist has been teasing us with a video every two weeks. If the material found on kin holds up the one shown on their YouTube channel, then it’ll surely be one album to grab come June. To listen to the song visit www.alwatandaily.com E-mail your feedback to falsabah@alwatandaily.com

The Buzz Stage and screen actress Janet Carroll dead at 71 Actress Janet Carroll, who played the mother of Tom Cruise’s character in the movie “Risky Business,” has died. She was 71. Carroll’s son, George Brown, said the actress died Tuesday in New York after a long illness. Carroll worked steadily since that breakthrough role with Cruise in 1983. Her film credits include “Family Business,” with Sean Connery and Matthew Broderick, and “Memories of Me” with Billy Crystal. On television, she appeared in such shows as “Murphy Brown,” ‘’Melrose Place” and “Married With Children.” Carroll served as artistic director of the jazz series at the Simi Valley Cultural Center in Southern California for many years and performed on tour with the Beverly Hills Unlisted Jazz Band. A memorial service will be held Saturday in New York City. -AP

Disco queen Donna Summer laid to rest in Nashville Family and some of her closest friends helped celebrate the life of Donna Summer at the singer’s funeral. A private memorial service was held Wednesday for Summer at Christ Presbyterian in Nashville, Tenn., where she had been a resident since 1995. Summer, deemed the “Queen of Disco” for hits like “I Feel Love,” ‘’Love to Love You Baby” and “Last Dance,” died May 17 of lung cancer at 63 in Naples, Fla. Producer and close friend David Foster performed “The Prayer” with Natalie Grant. Summer’s sisters, Linda Gaines Lotman, Mary Ellen Bernard, Dara Bernard and Jenette Yancey, sang “We’ve Come This Far By Faith.” Other guests included producer Giorgio Moroder and Tony Orlando. Summer is survived by husband Bruce Sudano; three daughters, Brooklyn, Mimi and Amanda; and four grandchildren. -AP

Top Gun, Star Trek coming to Amazon Prime “Star Trek,” “Top Gun,” “Braveheart” and “Breakfast at Tiffany’s” are among the Paramount Pictures titles coming to Amazon Prime under a new pact between the studio and the retailer. The move comes as Amazon’s Prime Instant Video and YouTube are rapidly expanding their selection of movies and television shows as part of an effort to loosen Netflix’s chokehold on the video streaming market. To that end, Amazon has already inked deals with Universal Pictures, Lionsgate and Disney-ABC. The new distribution agreement with Paramount brings the number of movies and television shows it offers to more than 17,000. “We are continuing to invest in building a vast selection for Prime Instant Video and are excited to bring Prime customers some of the most renowned and popular films in cinema history under this new agreement with Paramount,” Brad Beale, director of digital video content acquisition for Amazon, said in a statement. -Reuters

3 Doors Down guitarist Matt Roberts leaves band 3 Doors Down says on its website that founding member and guitarist Matt Roberts has left the rock band because of health problems. The statement Wednesday says Roberts has problems with blood circulation and other health issues. It calls the split amicable. Roberts grew up with bassist Todd Harrell and lead singer Brad Arnold in Mississippi. Together they formed the band in Escatawpa, Miss., in 1996. Arnold says Roberts will be welcomed back if he’s able to return. Guitarist Chris Henderson and drummer Greg Upchuch will continue to tour. -AP

Anne Hathaway’s ex to be released from prison An Italian ex-boyfriend of actress Anne Hathaway is about to be released from a Pennsylvania federal prison following a real-estate scam. Federal Bureau of Prisons spokesman Chris Burke says Raffaello Follieri is scheduled to be released Friday from a prison in Loretto, 80 miles east of Pittsburgh. Follieri pleaded guilty to cheating investors by falsely claiming he had Vatican connections that enabled him to buy church property at a discount. He was sentenced in 2008 to 4 1/2 years in prison. Follieri agrees he owes more than $3.6 million to those he ripped off. The proceeds supported a playboy lifestyle that included a $37,000-a-month New York City apartment and lavish vacations with the star of “The Princess Diaries,” who dated him for four years. -AP

46th annual CMA Awards to be held November The Country Music Association’s 46th annual awards show is scheduled for Nov. 1.The three-hour show moves to Thursday this year after a run of Wednesday nights. It will be broadcast live on ABC from Bridgestone Arena in Nashville. More than 16 million viewers tuned in to the CMAs last year to watch Taylor Swift win her second entertainer of the year award. The eligibility period for the CMA Awards closes June 30 and nominees will be announced late summer. -AP

This image provided by FOX-TV shows the two finalists with the judges; from left: Jennifer Lopez, Phillip Phillips, Jessica Sanchez, Steven Tyler and Randy Jackson. (AP)

LOS ANGELES: Phillip Phillips, a bluesy Georgia guitar man, was crowned the new “American Idol” on Wednesday after defeating teenager Jessica Sanchez in record viewer voting. He was the fifth male “Idol” winner in a row. Phillips, 21, a pawn shop worker from Leesburg, Ga., looked stunned when host Ryan Seacrest announced his name, then wordlessly accepted a hug from Sanchez and congratulations from his fellow finalists. He dissolved into tears as he sang “Home,” the song that may be his first single. Phillips retained his humble, self-effacing demeanor to the end, and beyond. “I have no idea why I won, man,” he said in his backstage dressing room. “I guess some people liked the music that I was doing. I’m just lucky. ... I was just doing my thing each week.” He received the winning share of the record-high 132 million votes cast after Tuesday’s final showdown with high school student Sanchez, 16, of Chula Vista, Calif. The vote count was not announced, typical for the contest. His victory extended the “American Idol” winning streak for men to five consecutive seasons. The last female to win, and the last non-white, was Jordin Sparks in 2007. Phillips has more in common with the last four winners

Winner Phillip Phillips performs onstage at the American Idol Finale on May 23, 2012 in Los Angeles. (AP)

than gender. Like them, he is a young Caucasian guitar player, also known to “Idol” watchers as WGWGs - white guys with guitars. Last year’s winner was Scotty McCreery, preceded by Lee DeWyze, Kris Allen and David Cook. Sanchez, who is of Filipino and Latino heritage, took a measured view of the outcome, one that she said had solely to do with music. “I don’t blame it on anything,” she said backstage. “Phillip has his fans, and I have mine. We’re totally two different people. Our genres are completely different. “He’s more like the indie, alternative rock kinda guy, and I’m more urban R&B pop. ... It’s just the number of our fans,” she said, adding that she expected to be the runner-up. Sparks, 22, was among the guest stars who helped fill out the two-hour finale show, among them Rihanna, Neil Diamond, Reba McEntire, Chaka Khan and John Fogarty. “American Idol” judges Steven Tyler, with his band Aerosmith, and Jennifer Lopez also performed, but it was Sanchez and Jennifer Holliday who stood out with a powerhouse duet on “And I’m Telling You I’m Not Going.” Besides music, there was a marriage proposal for the season 11 finale: Former contestants Ace Young and Diana DeGarmo got engaged on stage. Young, 31, a season five finalist, told Seacrest that he and

Piers Morgan told me how to hack: TV presenter LONDON: A prominent British TV presenter said Wednesday that CNN talk show host Piers Morgan gave him a primer on phone hacking, a revelation that suggests he knew a fair amount about how the shady practice was carried out. BBC quiz show host and television news presenter Jeremy Paxman told a media ethics inquiry that Morgan delivered his warning over lunch at the headquarters of the Mirror newspaper, which he was then editing, in 2002. Paxman said that Morgan “turned to me and said, ‘Have you got a mobile phone?’” “I said, ‘yes,’ and he asked if there was a security setting on the message bit of it. ... I didn’t know what he was talking about. “He then explained the way to get access to people’s messages was to go to the factory default setting and press either 0000 or 1234 and that if you didn’t put on your own code, (in) his words, ‘You’re a fool.’” Paxman testified before Lord Justice Brian Leveson, who is sifting through the fallout of the scandal over unethical and illegal behavior at Rupert Murdoch’s News of the World newspaper, which Morgan briefly edited before moving to the Mirror. Journalists at the now-defunct tabloid routinely hacked phones to get stories, bypassing weak security to illegally eavesdrop on private conversations of politicians, celebrities, sports stars, and other public figures. The scandal that erupted when the full extent of such practices was exposed last year has rocked Britain’s establishment, leading to the arrest of dozens of people and casting a harsh light on relations among the press, politicians, and the police.

Morgan testified before Leveson late last year, suggesting he’d only been aware of phone hacking in general terms. Quizzed repeatedly about statements he’d made suggesting that many in the British newspaper business were involved in phone hacking, Morgan claimed that he’d merely been repeating gossip he picked off the industry’s rumor mill. “I wasn’t aware that it was widely prevalent in any specific form,” he said in December, going on to explain that he was unaware of the details of what British journalists nicknamed “the dark arts.” The CNN star has repeatedly denied having ever hacked a phone or knowingly run material obtained by phone hacking. Morgan didn’t immediately answer questions about Paxman’s testimony sent via email, but he took to Twitter to make light of the development. “Right - that’s the last time I’m inviting Jeremy Paxman to lunch,” Morgan wrote. “Ungrateful little wretch.” Links between media and senior politicians are expected to come under scrutiny on Thursday, when the disgraced former aide to Olympics Secretary Jeremy Hunt, Adam Smith, is due to testify before Leveson. Smith resigned after email and text messages published by the inquiry showed him exchanging too-friendly emails with Murdoch lobbyist Frederic Michel, who was pressing Hunt’s department to help ease the media mogul’s multi-billion pound (dollar) bid for UK satellite broadcaster BSkyB. Michel is also due to testify Thursday. Hunt’s most senior civil servant, Jonathan Stephens, is due to testify Friday. Hunt is due to testify separately at a later date. -AP

Sharon Stone sued for harassment by former nanny

LOS ANGELES: Sharon Stone’s basic instinct might be a little bit off - at least when it comes to how to treat the help. “Casino” actress Stone is being sued by a woman claiming to be her former nanny, who says that Stone made disparaging remarks about her ethnicity and religious beliefs, and illegally fired her for receiving rightfully obtained overtime pay. Erlinda T. Elemen claims that she began working for Stone in October 2006, and was promoted to head nanny of the actress’ three children in September 2008. In the suit, Elemen says that she would often deride Elemen’s Filipino background, telling Elemen not to speak to the children because she didn’t want them to “talk like you,” making derogatory comments about Filipino food, and making comments “which equated being Filipino with being stupid.” The suit also claims that Stone “criticized Plaintiff for frequently attending church and, on one occasion, forbade Plaintiff from reading the bible in Plaintiff’s room in Defendant’s residence.” Stone’s publicist has not yet responded to Reuters’ request for comment. Elemen says that she was fired in February

2011, after refusing to return overtime pay that she’d earned while traveling with Stone’s kids and on other occasions such as holidays. According to the suit, Stone accused her of “stealing” the overtime pay from her and told her it was “illegal” for her to receive the pay. Alleging harassment, failure to prevent harassment, retaliation and wrongful termination, Elemen is seeking unspecified damages. Elemen’s attorney, Solomon Gresen, told Reuters that he hopes the suit will draw attention to the broader issue of overtime pay for domestic employees. “A common problem for employees in household occupations concerns the receipt of overtime and other wages,” Gresen said. “When a celebrity does it, it only serves to draw attention to the fact that there are thousands of people who are being underpaid. Hopefully, the publicity generated from this lawsuit will be of benefit to others and will prompt some change in the lives of ordinary citizens.” Gresen added, “It’s unfortunate when a California employee has to endure harassment, particularly a live-in employee who has little power to avoid the behavior.” -Reuters

DeGarmo, 24, had just moved in together. Then Young got down on one knee and popped the question to her. “I love you to death. You’re my best friend,” Young said in his proposal, which included a jarring credit for the jeweler who made the engagement ring he was offering (which, given Fox’s heavy soft drink and car sponsor product placement, wasn’t so off-key). DeGarmo, a runner-up in season three, tearfully accepted, her head bobbing up and down. But the point of the finale, saved for the final minutes and the highest possible ratings, was anointing the newest Idol and winner of a record contract. During the three-song showdown Tuesday between Phillips and Sanchez, the show’s judges praised his performance across the board. Sanchez was faulted for a lackluster rendition of her third song, “Change Nothing.” Although some critics dismissed Phillips as a Dave Matthews clone, viewers embraced him for his humility, his oncamera mugging and his memorable acoustic covers of songs like Usher’s “U Got It Bad.” In weekly tallies, Phillips never fell among the low vote-getters. Last year’s contest between McCreery and runner-up Lauren Alaina drew more than 122 million votes, the record that was broken Wednesday. -AP

Lady Gaga angers Thai fans with fake Rolex comment

US singer Lady Gaga waves upon her arrival for her concert tour, at Don Muang Airport in Bangkok May 23, 2012. (Reuters)

BANGKOK: Lady Gaga wants to go shopping in Bangkok - for a fake Rolex. The singer made the comment to her 24 million Twitter followers, sparking a uproar Thursday in Thailand where some fans called it offensive, insulting and bad for the country’s image. It’s the latest publicity-making turn of events as “The Born This Way Ball” travels through Asia. Lady Gaga’s provocative lyrics and costumes have angered Christian groups in South Korea and the Philippines and Islamists in Indonesia, where the show may be banned. Now she is stirring nationalist fervor in Thailand, where people tend to get upset when the country’s seedy underworld is highlighted by outsiders. “We are more civilized than you think,” tweeted Thai DJ Surahit Siamwalla, who has a ticket to Friday’s show in Bangkok but said he plans to boycott. “She came to our home, but instead of admiring us she insulted us,” said a commentator on popular Thai web board pantip.com. Lady Gaga posted her tweet shortly after her private jet arrived Wednesday night: “I just landed in Bangkok baby! Ready for 50,000 screaming Thai monsters. I wanna get lost in a lady market and buy fake Rolex.” It is unclear what a “lady market” is but some Thai fans assumed she meant the popular outdoor Ladies Market in Hong Kong, where she already toured - and also eyed the luxury knockoffs. “I love this city,” she tweeted April 30 after taking a Hong Kong spin class. “You can work out & buy a fake Birkin on the same street.” Not all Thai fans objected to the off-color comment. A screaming mob greeted Lady Gaga at the airport. Crowds thronged her 5-star hotel, where she signed autographs and hugged one female fan who left in tears. People have camped outside Rajamangala stadium for days, hoping to be first inside and win the prize of meeting the pop star in person. If Lady Gaga does have time to shop in Bangkok, she’ll see that the city has more to offer than just fake watches, Thai fan Nont Armarttasn sarcastically noted on his Facebook page. “Welcome to the land of counterfeit products, love,” he said. “I’m sure there are plenty of fake Gaga CDs, too.” -AP

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ALWATAN DAILY

AROUND TOWN / TIME OUT

FRIDAY, MAY 25, 2012

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

Feature o f

graffiti

the day

moderately confused

Observance of 21st Martyrdom Day of former Prime Minister Rajiv Gandhi

Sudoku

Elementary

KUWAIT: The Rajiv Gandhi Awards Committee (RGAC), Kuwait observed the 21st Martyrdom Day of former Indian Prime Minister Rajiv Gandhi on May 21, 2012 at a solemn function held at the residence of RGAC Chairman Markos Williams. Prominent businessman Mukesh Kumar inaugurated the event by

Month a t

Intermediate

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lighting the traditional lamp. Well known social worker N.A. Muneer, Vice Chairman of Kuwait Kerala Muslim Association, Eminent Dentist Dr. Jeetender Ariga and Markos Williams spoke on the occasion. A cross section of the Indian community paid rich homage and floral tributes to Rajiv Gandhi on the occasion.

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

a glance 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.

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.

Golden era club

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.

GF Handel’s Opera SEMELE

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

International bazaar May 26/ 10 a.m.-3 p.m. / TIES Center: Stop by and have the opportunity to

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

Waist Watchers

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

May 24-26/ Dar Al Athar Al Islammyah: International Opera singers Nicola Beckily and Matthew Long join Anna Karadimtrova and Haytham Abdulla to present the delightful story of SEMELE by GF Handel. Semele is the story of a young woman in ancient Greece, who falls in love with Jove, the King of the Gods on Mount Olympus. She begins to believe that she can become immortal, but will her ambition make her forget her true self? Music, humor, and strong feeling bring the story to life. For information, go to www.ahmadimusicgroup.com or email tickets@ahmadimusicgroup.com.

K’S PATH invites applicants for the adoption of pets

Ugandans in Kuwait (UIK)

Hip Hop at BAIA

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

Dilbert

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

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

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

Nancy

Horoscopes Aries: March 21 - April 19

Just when you thought you had everything planned out and working smoothly, Aries, love comes in and clogs up the works. Suddenly your attention is diverted and your concentration flies out the window as that dazzling vision catches your eye. This could be a good or a bad thing, depending on how you view the situation. The key lies in finding real healthy balance. Taurus: April 20 - May 20

Your heart is going pitty-pat, Taurus and you’re tempted to escape to a romantic fantasyland in which you play the starring role. The bad news is that something could be trying to hold you back. It could be that responsibility is coming on the scene and reminding you that work needs to be done here in the real world before you can go off to your little fairytale world. Gemini: May 21- June 21

You may feel a bit of strain today as you try to figure out the best way to get to where you need to be, Gemini. On one hand a happy approach calls for you to let loose, be courageous, and strike out with conviction toward the things that mean most to you. On the other hand, a sense of duty holds you back.

Cancer: June 22 - July 22

Your romantic side is powerfully charged today, Cancer. The more you tune into this side of your nature, the happier you’ll be. One thing to watch out for, however, is that you keep at least one foot on the ground at all times. Ensure you have a stable platform of honesty and practicality. Without it, you’ll be hard-pressed to take down walls and put in some windows. Leo: July 23 - August 22

Attend to your duties today, Leo. There’s a pronounced sense of passage of time and feeling that days are slipping quickly by. Ensure you fit love and romance somewhere into the said equation. You’ll experience a bit of resistance in this department at first but it’s an indication that it is an area that you need to explore more and ultimately feel more comfortable with. Virgo: August 23 - September 22

Two different sides will be tugging at you, Virgo. It may be that neither one is really making a strong case for pulling you one way or the other. Realize that adjustments have to be made in order for you to fit in the scheme of things and fulfill your responsibilities. A close loved one may be distracting you in subtle ways.

Libra: September 23 - October 22

Tension may be a bit high in just about everyone and everything you encounter today, Libra. Some will feel a strong need for stability and discipline. Others may be calling for some fun and carefree frivolity. You could be caught in the middle. The worst thing is that both sides, including your own, aren’t going to want to compromise. Try not to take things too seriously. Scorpio: October 23 - November 21

Remember that you were put here to have fun, Scorpio, and that happiness is your true destiny. Keep that in mind today, as forces may tend to pull you away from the fun you’ve been having. There is likely to be a sobering tone to the day that’s stubbornly working to rain on the parade. Recognize the need for structure and stability but don’t let it drag you down. Sagittarius: November 22 - December 21

You, of all people, will appreciate the need for structure and stability on a day like this, Sagittarius. This practical energy could be taking some of the fun out of the equation.You may not recognize it at first, but if you aren’t careful, the fun in your life could be chipped away. En sure you hold tight to the things that give your life passion.

Capricorn: December 22 - January 19

Tension is apt to build to a high level if you aren’t careful about how to use words, Capricorn. The tricky thing is that forces are going to try to push you and pull you in different ways. You may encourage a focus on the collective, while others worry about themselves. Yet another force calls for outdated remedies and traditional structures. Just try to blaze your own trail! Aquarius: January 20 - February 18

Take a look at what’s going on around you today, Aquarius. Do some internal processing before you reach a conclusion about the best way to proceed. You may find that powerful forces are trying to win you over to one camp or another. Don’t pigeonhole yourself into one way of doing things. The best route is often a strong combination of several different paths. Pisces: February 19 - March 20

Watch out for a little jolt in the action as someone close to you puts on the brakes in your relationship, Pisces. Conflicts could arise based on a need for more structure and stability. The imbalance between having fun and taking care of practical matters is working to slowly destroy the good thing that you have going.

ALWATAN DAILY

SPORTS

friDAY, may 25, 2012

19

Basketball

76ers top Celtics to force Game 7 in East semis PHILADELPHIA: The buzz at the start was for Allen Iverson’s ceremonial return. By the end, more than 20,000 fans were on their feet and going wild for Jrue Holiday, Elton Brand, Andre Iguodala and the ruggedand-determined play that kept the eighthseeded Philadelphia 76ers alive for at least one more game. Yes, the Sixers are talking about Game 7 and they’re taking this improbable postseason run back to Boston. Holiday scored 20 points, and Brand had 13 points and 10 rebounds to lead the Sixers to an 82-75 victory over the Celtics on Wednesday night that tied the Eastern Conference semifinals. No team has won consecutive games in a series where neither team has played well enough to seize control. But the Sixers were good enough to win Game 6, improving to 5-0 this postseason in games following a loss. “Game 7,” coach Doug Collins said. “That’s all we wanted was to win tonight and give ourselves a chance to go into Boston and see what happens on Saturday.” Paul Pierce, Kevin Garnett, Ray Allen and Rajon Rondo could be playing their last game together Saturday night if they can’t find a way to hang onto the ball and put away a Sixers team that won’t quit. Boston has learned three times already how difficult that can be. The fun started when the not-quite retired Iverson earned a roaring standing ovation when he presented the game ball. It ended with the song, “I’m Shipping Up to Boston,” blasting through the arena. The Celtics posted ugly numbers across the board: Blame the loss on the 33 percent shooting, the 17 turnovers or the 3 for 14 3-point shooting. Either way, there’s enough to go around. Pierce had 24 points and 10 rebounds,

Elton Brand (center) of the Philadelphia 76ers dunks during the game against the Boston Celtics in Game Six of the Eastern Conference Semifinals in the 2012 NBA Playoffs at the Wells Fargo Center on May 23, 2012. (AFP)

and Garnett had 20 points and 11 boards. “We found a way to stay in the game, for the most part,” Pierce said. They did because the Sixers again failed to put up the sparkling numbers in the box score

usually required for a deep postseason run. They missed 8 of 9 3-pointers, shot a woeful 17 of 28 from the free throw line and had 12 turnovers. But when the Sixers really needed that

Heat’s LeBron James leads NBA all-defensive team

Miami Heat’s LeBron James (right) leaps to score over Indiana Pacers’ David West in the third quarter during Game 5 of their NBA Eastern Conference second round basketball playoff series in Miami, Florida May 22, 2012. (Reuters)

NEW YORK: NBA Most Valuable Player LeBron James was the leading vote-getter for the league’s alldefensive squad Wednesday, while Defensive Player of the Year Tyson Chandler didn’t even crack the first team. Confused? So were plenty of others - even a Harvard graduate. Jeremy Lin, Chandler’s teammate in New York, took to Twitter to ask for an explanation of how that was possible. The answer is because the voting is done by different parties. A media panel voted for Defensive Player of the Year, while the all-defensive team vote was conducted by the league’s 30 head coaches, who voted for a first and second team by position and were not allowed to pick their own players. They favored Orlando’s Dwight Howard, the NBA’s

leading rebounder and its top defensive player three straight years before Chandler, as their center. Also on the first team were Thunder forward Serge Ibaka, who led the league in blocks and was runner-up to Chandler for Defensive Player of the Year; Clippers guard Chris Paul, the league leader in steals; and Grizzlies guard Tony Allen. Ibaka and Allen earned firstteam honors for the first time. James totaled 53 points, including 24 first-team votes. He averaged 1.9 steals and 7.9 rebounds as Miami ranked fourth in the league in opponent scoring. Joining on Chandler on the second team were Rajon Rondo and Kevin Garnett of the Celtics, Lakers guard Kobe Bryant, and Chicago forward Luol Deng. -AP

Cricket

Seam options leave Strauss in enviable position

LONDON: England’s fast bowling options are a luxury for captain Andrew Strauss but he sympathizes with the likes of Steve Finn who was left kicking his heels in the first test against West Indies. Stuart Broad, fresh from his 11-wicket haul at Lord’s, and James Anderson will again lead England’s attack in the second test at Trent Bridge, Nottingham on Friday with the third pace slot up for grabs. Tim Bresnan played as the third seamer in England’s five-wicket victory in the opener but could come under pressure from Finn, who has bagged 53 wickets in 13 tests. With Graham Onions also waiting in the wings, England’s attack is well-stocked as they prepare for the match at a ground which generally offers swing and pace. “It’s the way of the world at the moment,” Strauss told a news conference at Trent Bridge in bright sunshine on Thursday. “We have five or six test quality seamers and only three of them can play so it’s unfortunate for the guys who are left out. “It’s a management thing and we have to make sure they know they are appreciated and wanted. If they do miss out they know that when the opportunity comes they need to take it. “It’s a great position for us as a side to be in, but frustrating when you are left out. But you learn

from that and it makes you hungrier when you get the chance.” West Indies were dealt a blow when fast bowler Shannon Gabriel, who took four wickets on his debut, was ruled out for the rest of the three-match series with a back injury and was replaced by Tino Best. However, captain Darren Sammy will have Ravi Rampaul available after he missed the opening test and Dominican spinner Shane Shillingford could also play. “We will definitely consider playing Shillingford,” Sammy said. “Looking at our attack playing on flat pitches over the last year or so a spinner has always been in our line-up with two quick men and myself and that has been successful for us.We will consider that and hopefully go and take 20 England wickets. “The last year and a half Ravi (Rampaul) has been the guy that takes wickets with the new ball and with the way Roach is bowling that could be a very good combination against England.” England were made to work harder than expected by the tourists at Lord’s, crumbling to 57 for four as they chased a victory target of 191 before Alastair Cook and Ian Bell steered their side home with a fifth-wicket partnership of 132. Strauss said England were prepared for some more hard graft. -Reuters

game-changing basket, there was Evan Turner twisting and fighting through defenders down the lane. When the Sixers needed a stop, there was Brand, ripping a rebound away from Boston, even with painful neck and shoulder inju-

ries that keep him awake at night. The Sixers wrote ‘’Huddle Up and Fight’’ on their locker room chalkboard. They did just that and are now one win away from reaching the conference finals for the first time since 2001. Iverson was the MVP of that run. Maybe a little of that ol’ A.I. magic rubbed off in Game 6. Unlike Game 5, when the Sixers collapsed in the third quarter and blew a lead, they suddenly found a groove in front of 20,403 fans. The Sixers started hitting free throws, kept turnovers to a minimum (two), and fed the ball to a starting lineup that had been largely outproduced by a fantastic bench. Turner was fouled on a go-ahead layup but missed from the line. That made the Sixers 5 of 13 while the Celtics were 14 for 14. Iguodala split two defenders and threw down a ferocious dunk over Pierce to draw the foul. He made his first free throw after missing his first four and the Sixers led by five. Pierce led the parade to the line for the Boston. He made his first 11 attempts for a Celtics team that was 17 for 17 through three quarters. The Celtics made only 19 field goals through three. “We’ve got to move the ball and continue to play the defense that we’ve been playing,” Pierce said. The Sixers also couldn’t find their way from the 3-point line and missed their first six attempts until Iguodala nailed one for a 58-52 lead. Garnett caught some heat after calling Philly fans “fair weather” after Game 5 in Boston. Well, the forecast called for thunderous cheers after Iguodala buried his 3. That helped the Sixers take a 60-56 lead into the fourth and put them 12 minutes away from Game 7. -AP

Formula one

Alonso fastest in smoky Monaco practice MONACO: Ferrari’s Fernando Alonso showed his mastery of Monaco on Thursday with the fastest lap in a first free practice session cut short in a cloud of smoke. The Spaniard, twice a winner in the Mediterranean principality with Renault and McLaren, skimmed the barriers and roared past the moored yachts with a best time of one minute 16.265 seconds. With the sun shining brightly on the sparkling harbor, Romain Grosjean burnished his hopes of becoming a first French Formula One winner in Monaco since Olivier Panis’s unlikely victory in 1996. Grosjean’s time for Lotus was the second best, 0.365 seconds off Alonso’s. “I like Monaco, it’s good fun. The car is going well at the moment so let’s see what we can do later on. It’s important to have a car that you are confident with and work every single details because it makes such a big difference,” said Grosjean. Mexican Sergio Perez, returning to the scene of his big accident in qualifying last year, clocked the third best time of the morning for Sauber with race favorite Lewis Hamilton fourth for McLaren. The largely incident-free session was red flagged with just over nine minutes to go when Heikki Kovalainen’s Caterham blew its engine and filled the tunnel - the fastest point of the circuit - with smoke. Kovalainen parked up at the tunnel exit as drivers threaded their way through the smoke. With oil also de-

Fernando Alonso of Spain and Ferrari drives during practice for the Monaco Formula One Grand Prix at the Monte Carlo Circuit on May 24, 2012. (AFP)

posited on the track, organizers decided not to re-start the session. That left Grosjean’s team mate and 2007 champion Kimi Raikkonen at the bottom of the timing screens after the Finn completed an installation lap but failed to set a time. He then sat out the rest of the session as mechanics worked on his car. Venezuelan Pastor Maldonado, surprise winner forWilliams at the last race in Spain but now among the favorites at a track he loves, was again among the frontrunners with the fifth fastest

time. Ferrari’s Felipe Massa, under intense pressure to deliver after scoring just two points in five races, was sixth and 0.578 slower than Alonso. Red Bull’s double world champion and last year’s winner Sebastian Vettel, joint championship leader with Alonso, clocked the ninth best time. Five times Monaco winner and seven times world champion Michael Schumacher damaged his Mercedes’s front wing when he rode the kerbs at the swimming pool complex and was 11th fastest. -Reuters

Tennis

Nadal clouds Djokovic’s bid to match Laver PARIS:  Novak Djokovic will arrive at Roland Garros seven wins away from becoming the first man for 43 years to hold all four grand slam titles concurrently - the only trouble is one of his victims will probably have to be claycourt king Rafa Nadal. The 25-year-old Serb will be seeded one at the French Open, courtesy of the top ranking that goes with being the current Wimbledon, US Open and Australian Open champion. However, few will mark him down as favorite with Nadal, who Djokovic calls the “ultimate challenge” on clay, peaking at just the right time to chase a seventh Paris title and move him ahead of Bjorn Borg in the pantheon of Roland Garros champions. Last year, Djokovic began in Paris on a claycourt roll after beating Nadal in the Madrid and Rome finals - only to fall to an inspired Roger Federer in the semifinals. His form this year has been impressive, if not quite as spectacular as last year when he won his first 41 matches of 2011 before the four-set loss to Federer. He has also relinquished his iron-like hold over Nadal - losing in the Monte Carlo and Rome finals having won his previous seven matches against the Mallorcan powerhouse. Having beaten a rejuvenated Federer in the Rome semis, however, and with world number four Andy Murray not in the best form or fitness, there appear few natural barriers to prevent Djokovic facing his day of destiny on June 10. “It’s there and a possibility to win four grand slams in a row and I am going to prepare as I prepare for any other big event with more focus,” Djokovic said after his 7-5 6-3 defeat by Nadal in the Italian capital, a match that was too close to call for much of a brutal first set. “The French Open is the only grand slam that I haven’t played in the finals so it’s a hard task but I feel good and I’m always motivated in France.” Should he win his first French Open title Djokovic would

Rafael Nadal of Spain lifts the trophy after defeating Novak Djokovic of Serbia in their final match during day ten of the Internazionali BNL d’Italia 2012 on May 21, 2012. (AFP)

join Australia’s Rod Laver (1962 and 1969) and American Don Budge (1938) as holders of all four slams at the same time. To achieve it now, however, would be a considerably greater feat as back then three of the four slams were played on grass whereas now players must master three surfaces. Another title for Nadal would leave little room for argument about the left-hander’s credentials as the greatest claycourt player of all time. -Reuters

FRIdAY, MAY 25, 2012

SPORTS

Sports Editors Highlight LONDON: Liverpool’s Dutch international Dirk Kuyt revealed on Thursday that Bundesliga side Hamburg was one of the options he was considering if he eventually decides to leave Anfield. Kuyt said he had received favorable reports about Hamburg from his fellow Dutch internationals Rafael van der Vaart, Nigel de Jong and Joris Mathijsen. “They’ve all experienced great times at Hamburg. They adore the city and the club,” he said. Kuyt, who is under contract at Liverpool until 2013, is waiting to find out who will replace Kenny Dalglish as manager before deciding on whether to move on from Merseyside. Last month Hamburg expressed interest in acquiring the forward, with the side’s sporting director Frank Arnseen declaring: “A player like Kuyt, who is still sharp, can bring a lot to any club. He’s a selfless player with a great mentality.” -AFP

Football

Guardiola eyes final Cup glory with Barcelona MADRID: It will be the last chance for the departing manager to add to the 13, out of a possible 18, trophies he has won in his four record-breaking seasons at the club. It is also the only trophy that until now Guardiola has not managed to win at least twice, after collecting three Spanish leagues, two Champions Leagues, two FIFA World Club Cups, two UEFA Supercups, three Spanish Super-cups and a solitary Spanish Cup. Andres Iniesta is sure about what it will take for Barca to add to his and his manager’s haul of titles. Despite Bilbao’s strong season that saw them finish as impressive runners-up in the Europa League, Barca go into the game clear favorites to repeat the victory of the 2008-09 final when the Catalans ran out 4-1 victors after Bilbao had taken an early lead. The two historic clubs have the most Spanish Cup victories, Barca with 25 to Bilbao’s 23, and both sides are appearing in their 36th final. However in contrast to Barca’s trophy laden recent past, it is 28 years since Athletic Bilbao last won a title, after beating Barca 1-0 in the 1984 final to claim their last trophy. The barren years weigh heavily on a club with such tradition but this season Argentine coach Marcelo Bielsa has rejuvenated the club with an attractive attacking style. The plaudits have been so many for Bielsa, doubts remain as to whether he will still be in Bilbao next season, with him refusing to commit to another year contract until after the final. For a club limited by its own rule of only signing players with links to the Basque region, the presence of a great motivator on the bench is key and top-scorer Fernando Llorente is clear about the effect Bielsa has had on the side in his first sea-

FILE - Barcelona’s players and staff applaud coach Josep Guardiola before the Spanish League football match FC Barcelona vs RCD Espanyol at the Camp Nou stadium, May 5, 2012. (AFP)

son. With more then 50,000 fans set to converge on Atletico Madrid’s Vicente Calderon stadium in the Spanish capital, the final has been tinged with political controversy. The threat of a repeat of the anti-Spanish fan protests that drowned out the playing of the Spanish national anthem before the 2009 final has led

to one politician to call for the game to be suspended. The words from Madrid’s regional president Esperanza Aguirre have been universally played down by all parties before a game likely to be played in a convivial atmosphere before two sets of fans unified by their separatist leanings. -AFP

Bayern’s loss will not affect Germany at Euros: Podolski BERLIN: Bayern Munich’s dramatic Champions League final defeat to Chelsea last week may have affected the club’s eight German internationals but their disappointment will not spread into Euro 2012 starting next month, Germany winger Lukas Podolski said. Dominant Bayern missed a bagful of chances, conceded a last-gasp equalizer and squandered an extra-time spot kick to lose 4-3 on penalties in Munich on Saturday after they repeatedly thought they had done enough to win their fifth European crown. “It is difficult to find ways to say things to them now,” said winger Podolski, who left relegated Cologne after the end of the season to join Arsenal. “Personally I had to deal with it as well. I was relegated (this year) and you have to live with that.

In sports there are ups and downs,” he told a news conference in southern France where the team are preparing for the tournament co-hosted by Poland and Ukraine which starts in June. Bayern’s internationals, captain Philipp Lahm, keeper Manuel Neuer, Bastian Schweinsteiger, Thomas Mueller, Holger Badstuber, Jerome Boateng, Toni Kroos and Mario Gomez, will join the team in the coming days. Mueller said this week that his frustration was growing the more he thought about the game. “All eight are great players and our quality on the pitch will not be affected by this result,” said Poland-born Podolski, who has already amassed 95 caps at the age of 26. He said processing the defeat should be a matter of days rather than weeks. “It lasts a few days. The relegation is far more

Unhappy Anelka in the dark about possible replacement SHANGHAI: Shanghai Shenhua player-coach Nicolas Anelka has said there would be a problem if the Chinese club replaced him with former Argentina boss Sergio Batista. Local media in China have reported that struggling Shanghai will name the 49-year-old former Argentine midfielder as manager, with Anelka reverting back to a sole playing role.

FILE - Shanghai Shenhua’s player-coach Nicolas Anelka watches his teammates warming up before the Chinese Super League match between Shanghai Shenhua and Shandong Luneng at Shanghai, April 28, 2012. (AP)

dramatic as there are financial implications and jobs are affected. I dealt with it for two or three days and the same should happen to Bayern and then (they should) start looking into the future again.” Germany, aiming for their first major title since 1996 and their fourth European trophy, take on Portugal, Netherlands and Denmark in the group stage of the tournament. “The last few tournaments we were happy with semi-final finishes but we are that good now and have developed well in the past few years to be able to say that we will challenge for the title,” said Podolski. Germany were runners-up at Euro 2008 and clinched third place at the 2006 and 2010 World Cups. -Reuters

The Frenchman, who was famously kicked out of the 2010 World Cup for comments directed at then coach Raymond Domenech, was unhappy at the prospect. “I don’t know this coach. I haven’t heard anything about this from the club. I have only learnt this from the media,” Anelka told reporters at a news conference in Shanghai on Thursday. “If that is going to happen, there is a huge problem of communication between me and the club, because of the language barrier. I am not aware of anything that is happening,” the 33-year-old, speaking in French, added. “I am a coach but also I am a player before anything. If something happens and I am not aware of it, you should know that I am a player and that would be a problem in the future because I will still be here.” Much was expected of Anelka when he signed a two-year deal worth a reported $300,000 a week with Shanghai in December, but the club has struggled this year and sit in 14th place in the 16-team league, one point and place above the relegation zone after 11 games. The much-travelled former Arsenal, Real Madrid and Fenerbahce striker has scored just two goals this season and took on coaching responsibilities last month when his compatriot, former France international Jean Tigana, was sacked after four months in charge. Results have not improved under Anelka’s guidance with Shanghai slumping to a 1-0 loss away to Henan Jianye on the weekend but the Frenchman said a new coach was not the solution. Anelka’s call for patience and time to build is likely to fall on deaf ears. With Chinese clubs enjoying a boom with heavy financial investment, instant results are expected. League leaders Guangzhou Evergrande sacked coach Lee Jang-soo last week and replaced him with former World Cup winning coach Marcello Lippi despite the South Korean winning the Chinese league title last year and getting them through to the last 16 of the Asian Champions League. Shanghai have been strongly linked with a move for Anelka’s former Chelsea team mate Didier Drogba, who said he was leaving the Champions League winners this week, but the Frenchman said he had heard nothing from the Ivorian striker. -Reuters

Late drama sends Boca, Corinthians into last four RIO DE JANEIRO: The Libertadores Cup served up a double dose of late drama as Boca Juniors and Corinthains scored last-gasp goals in Wednesday night’s games to reach the semifinals. Santiago Silva scrambled home a 90th minute goal to give six-times champions Boca a 1-1 draw at Fluminense which sent them through 2-1 on aggregate. In the other match, Paulinho headed an 87th minute winner for Corinthians, the only goal of a dour, fear-ridden two-leg tie against their fellow Brazilians Vasco da Gama. Fluminense, missing playmaker Deco and striker Fred through injury, still managed to take a 17th minute lead when defender Carleto scored with a free kick which took a deflection and left goalkeeper Agustin Orion stranded. The Brazilians managed to nullify Boca playmaker Juan Roman Riquelme as the visitors were reduced to launching long balls forward for Silva to chase. Beaten finalists four years ago when they overcame Boca in the semi-finals, Flu were close to settling the tie when Thiago Neves was denied by Orion and Rafael Moura shot wide from an excellent position in the next attack. Instead, Boca went through with the last move of the game as Diego Rivero’s shot hit the post, goalkeeper Diego Cavalieri clawed it away only for Uruguayan striker Silva to force the ball across the line. -Reuters

UEFA may review rule that hit Spurs Champions League bid

BUDAPEST: The Champions League rule which has denied Tottenham Hotspur a place in next season’s competition because Chelsea won Saturday’s final could be reviewed by UEFA’s executive committee, president Michel Platini said. Chelsea automatically qualified for next season as European champions despite only finishing sixth in the Premier League. If they had lost on Saturday they would have only qualified for the Europa League, but their victory over Bayern Munich means that they, rather than Spurs who finished fourth in the Premier League, will compete in the Champions League. Speaking in Budapest ahead of this week’s FIFA Congress, Platini said he was aware the rule was unpopular because of the potentially huge Champions League revenue a club can lose because of another’s success. But he told reporters: “Everything can be discussed - the rules, yellow cards, but not during the competition. Perhaps in the next executive committee we can speak about it”. On Tuesday, FIFA president Sepp Blatter questioned whether Chelsea should be allowed to enter next season’s Champions League because he said all confederations should follow FIFA’s rules on competition winners. Blatter told Reuters: “We had this rule in FIFA that the winner of the World Cup was automatically qualified and we abandoned it, so the winner of a competition should not be automatically qualified. This is the FIFA rule and if we have the same rule all around the world then this should be applicable to UEFA as well.” Platini rejected suggestions that Tottenham were being unfairly punished and that by denying them a place in the competition it made a mockery of their season. -AFP

FA don’t hold back on Barton ban

LONDON: QPR’s volatile captain Joey Barton received a 12 match ban from the Football Association on Wednesday after being found guilty by an Independent Commission of two counts of violent conduct. The 29-year-old - who has been in trouble on several occasions throughout his career both on and off the pitch - had eight matches added to the four game suspension he had picked up already for being sent off in the final game of the season against champions Manchester City. He was also fined #75,000. The FA’s regulatory panel had discretionary powers to further increase the length of the suspension if charges were found to be proven. Barton, who now faces an internal enquiry by QPR into his behavior, was shown a red card for elbowing Carlos Tevez and then kicked Sergio Aguero before appearing to attempt to headbutt opposing captain Vincent Kompany. “There are rules of conduct that should be adhered to, and such behavior tarnishes the image of football in this country, particularly as this match was the pinnacle of the domestic season and watched by millions around the globe,” said the Commission chairman Maurice Armstrong. The FA released a statement saying that while Barton - who appeared personally with a barrister - had pleaded not guilty to the second charge the Commission had not found in his favor. “This eight-match suspension is to run consecutively to the four-game suspension Barton was already given for his dismissal in the fixture, making a total of 12 matches,” read the statement. “Barton was charged by The FA with two counts of violent conduct in relation to the Queens Park Rangers game against Manchester City at the Etihad Stadium on Sunday 13 May 2012. Following Barton’s dismissal in the 54th minute of the match, there followed two incidents involving Manchester City’s Sergio Aguero and Vincent Kompany. As Barton had already been dismissed, both of these incidents fell outside the jurisdiction of the referee. Barton accepted the charge of violent conduct against Aguero but denied the second breach of violent conduct against Kompany. The independent Regulatory Commission, however, found this second charge proved.” QPR said they will now begin their own internal investigation. -AFP

Gerrard rules out retiring after Euro 2012

LONDON: England midfielder Steven Gerrard on Thursday ruled out retiring from international football after Euro 2012. The injury-plagued 31-year-old, who will captain England in Poland and Ukraine, said he wants to prove to new England boss Roy Hodgson that he can continue on until the next World Cup in Brazil. “I can understand that at my age people are going to start questioning me and asking me if I’m going to quit England and focus on Liverpool, but I don’t see it like that,” Gerrard told the Daily Mirror. “I don’t think I have a decision to make. I love playing for England, I love playing for Liverpool.” The midfielder admitted however that he must first impress manager Hodgson during the European tournament from

June 8 to July 1. “I think it’s going to be a case of let’s see how I perform in this tournament,” he said. “Let’s see if first and foremost I have a future with this manager if he’s keen for me to stay about. If the manager says to me at the start of next season that he thinks I did well in the tournament, that he wants me to stick about, that he can protect me, not overuse me and that I have a big part to play, I’m sure I will carry on. If the England manager says to me that he wants me to stay around for Brazil, that would be a nice carrot on the end of the string for me. That would be a good tournament for me to bow out at, but there are a lot of things to consider. The way I look at it at the moment is my body is in the best shape it’s been in for many years. My groin problems are all behind me and I feel strong.” -AFP

FILE - Steven Gerrard of Liverpool fires in a shot under pressure from Gary Caldwell of Wigan during the Barclays Premier League match between Liverpool and Wigan Athletic, March 24, 2012. (AFP)


May 25, 2012