BUSINESS | Page 1
Stress on desire
for good ties with
all countries
Qatar has
good scope for
investment,
says Lord
Mayor
INDEX
QATAR
4 – 10, 30 – 32
11
REGION
ARAB WORLD
12, 13
INTERNATIONAL 14 – 27
COMMENT
BUSINESS
CLASSIFIED
SPORTS
26, 27
1 – 9, 13 – 16
10 – 12
1 – 12
Telecoms market
revenues jump
Qatar’s telecoms market remains
healthy and dynamic, growing
at a pace that is outperforming
population growth with 2013
revenues increasing by 11%
to reach QR8.5bn in 2013, the
Ministry of Information and
Communications Technology
(ictQATAR) said in its 2013/14
annual report. Net profits
remained stable at QR1.1bn. Both
mobile and fixed broadband
subscriptions have also grown
over the past year, with the
former, in particular, skyrocketing
by 32% to a total of 1,665,419
mobile broadband subscriptions
in the country, it said. Page 32
EUROPE | Politics
Greek govt reverses
austerity policies
Greece’s new hard-left Prime
Minister Alexis Tsipras sent the
Athens stock market diving
yesterday after his government
scrapped key privatisation
projects and pressed home
its demand for debt relief. In
sweeping announcements
two days after taking power,
Tsipras began reversing many
of the unpopular measures that
underpin Greece’s 240bn-euro
($269bn) bailout programme.
Page 21
QATAR | Sport
FIFA official backs
winter World Cup
FIFA general secretary Jerome
Valcke has again indicated that
the 2022 World Cup should be
played in winter to avoid the
summer heat in Qatar. “I think
it has also been confirmed by
other members of the executive
committee that the World Cup
would be played in winter,” he
said in an interview with FranceInfo radio yesterday. Sport page 11
46.12
+84.41
+0.71%
+0.97
+2.15%
Latest Figures
THURSDAY
www. gulf-times.com 2 Riyals
By Joseph Varghese
Staff Reporter
M
HH the Emir Sheikh Tamim bin Hamad al-Thani meeting with the Prime Minister of the German state of Lower Saxony,
Stephan Weil, yesterday. The meeting at Sheraton Doha Hotel, which was attended by the delegation accompanying the
German minister, reviewed bilateral relations and ways to enhance them in addition to discussing a set of issues of mutual
interest. Page 5
Qatari-led group wins $4bn
battle for Canary Wharf
Reuters
London
A
Qatari-led consortium looked
set to win its long-running
battle to buy Songbird Estates
yesterday after the owner of London’s Canary Wharf business district
dropped its opposition to the $4bn
offer.
Songbird said it still thought the
price undervalued its properties but
with no rival bid forthcoming and
holders of 86% of the shares backing the deal, it said minority investors
should accept.
The Qatar Investment Authority
(QIA) and its bid partner launched a
350 pence-per-share offer direct to
Songbird shareholders in December,
hoping to add a financial district rivalling the City of London to landmarks already in its portfolio such as
the Shard skyscraper and Harrods department store.
Canary Wharf’s steel and glass towers, home to banks such as HSBC, Citi
and JP Morgan, embody the change in
London’s economy in the second half
of the 20th century as industry dwindled and financial services grew.
The redevelopment of the former
West India Docks, which traded in
everything from tobacco to bananas,
was championed in the 1980s by then
prime minister Margaret Thatcher,
who saw the need for more space for
a financial sector booming after her
“big bang” reforms.
The QIA already owned 29% of
Songbird, which in turn owns 70%
of Canary Wharf Group. Its partner
in the deal, US investor Brookfield
Property Partners, has 22% of Canary
Wharf Group.
QIA and Brookfield welcomed
Songbird’s announcement and urged
other shareholders to accept the offer.
The complicated structure featuring a layer of shareholders in Songbird
and another in Canary Wharf tended
to leave Songbird trading at a discount
to the value of its property and helped
make it a takeover target, analysts
said.
Songbird said earlier this month
the offer was an 8% discount to its net
asset value of 381p at the end of November and put no value on its growth
potential.
Shares in the group, which had
been trading about 10% below the
offer price due to scepticism it would
go through, were up 7.5% at 345.5p by
1300 GMT.
Songbird had already said that if
one or more of the other three large
shareholders, New York-based investor Simon Glick, China Investment
Corporation and Morgan Stanley
Investment Management, were to
accept, the offer would become unconditional. Combined they own just
over 50%.
Since the offer looked like a fore-
Vol. XXXV No. 9617
January 29, 2015
Rabia II 9, 1436 AH
The pilot phase report reveals
that 80% of the sample population
reported no level of moderate
physical activity per week
ARAB WORLD | Tension
Page 13
11,920.48
-330.70
-1.87%
in
QATAR | Growth
The UN Security Council has
called an emergency meeting to
discuss the flare-up of violence on
the Israeli-Lebanon border. France
requested the urgent talks in
the 15-member council after two
Israeli soldiers and a Spanish UN
peacekeeper died in the exchange
of fire between Israeli forces and
Hezbollah fighters. Tension in the
area has been building, especially
after an Israeli air strike on the
Syrian sector of the Golan Heights
killed six Hezbollah fighters and
an Iranian general on January 18.
17,348.00
Qatar study
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QATAR | Page 4
gone conclusion after all three major
investors indicated they would approve, minority shareholders could be
left holding stock in a group no longer
listed and therefore difficult to value,
Songbird said.
Songbird, backed by investment
bank Morgan Stanley, had won control of Canary Wharf in 2004 with a
£1.7bn cash offer. It saw commercial
property values in London rise for
three years until the global financial
crisis.
Canary Wharf had already been
through boom and bust; Britain was
in recession when its flagship One
Canada Square skyscraper opened
in 1991, resulting in the bankruptcy of developer Olympia & York
(O&Y).
George Iacobescu, a 69-year Romanian-born engineer, oversaw the
original development for O&Y and
continues to lead Canary Wharf
Group. He is in line for a £3.5mn
windfall from the takeover.
The company is preparing to start
work on two major developments: a
60-storey tower with the first residential property on the estate and
a 20-acre waterside site with 3,100
homes and office buildings.
QIA was advised by Barclays, Citigroup and HSBC, while Rothschild,
Morgan Stanley and JP Morgan Cazenove worked for Songbird.
Shareholders have until today to
accept the offer.
ore than 70% of the participants of a Qatar Biobank
study are at the risk of developing cardiovascular diseases due to
being overweight or obese.
The findings of the pilot phase of
the study that included 1,200 samples,
collected between September 2013 and
October 2014, were released yesterday.
Until January 15 this year, Qatar
Biobank recorded 2,006 participants,
comprising 1,500 nationals and 506
expatriates who had lived in Qatar for
more than 15 years.
According to the findings, 76.6% of
male and 70.4% female participants
are at risk of developing cardiovascular diseases. About 73% of the sample
population were classified as overweight and obese and 37% of the population was classified as obese.
The findings were released at a media interaction at the Student Centre
of Hamd Bin Khalifa University. Dr.
Hanan al-Kuwari, chairperson of Qatar Biobank Board of Trustees; Dr Hadi
Abderrahim, managing director of
Qatar Biobank, and Prof Abdul-Badi
Abou-Samra, chairman of the Medicine Department, Hamad Medical Corporation, were present.
The study points out that 37% of the
participants have borderline or high
levels of total cholesterol. Similarly,
52.7% of male and 31.7% of female participants were categorised as hypertensive and 21.3% of male and 15.6% of
female participants, who were categorised as hypertensive, were undergoing
treatment for hypertension.
The pilot phase report reveals that
80% of the sample population reported
no level of moderate physical activity
per week.
A total of 45.2% of the participants
were referred to Hamad Medical Clinic
for Biobank and other primary healthcare centres for further treatment as they
were suffering from various diseases.
Out of these, 373 (70%) were unaware that they had a disease. While
25% of referrals were due to abnormal
bone density and low blood calcium
rates, 19% of referrals were due to high
cholesterol; 18% of referrals were due
to diabetes and 17% were due to high
blood pressure.
Another significant finding was that
69.8% of male and 68.3% of female
participants recorded below average
vitamin D levels, while 12.5% of male
and 16.5% of female participants suffered from severe vitamin D deficiency.
Dr al-Kuwari pointed out that Qatar Biobank aimed to build one of the
world’s largest population-based
biobanks and the volunteers were contributing to improving public health in
Qatar.
“Qatar Biobank is committed to raising the Arab world’s profile in the field
of biomedical research, leading efforts
for greater regional collaboration in
this field, and creating an invaluable
resource for research to develop medical treatments for an Arab population,”
Dr al-Kuwari said.
“As Qatar’s scientists and scholars
continue to engage in the shift from
traditional genomics as the mapping
of an individual’s DNA, to populationbased studies that will improve the
lives of future generations, the ongoing
medical research on the causes of prevalent diseases in Qatar and the initial
findings of the pilot phase once again
reveal the value of the work underway
at Qatar Biobank,” said Dr Abderrahim.
Page 30
Officials at the release of Qatar Biobank’s pilot phase study findings yesterday.
Qatar reach semi-finals
Q
Qatar handball team members celebrating their win at Lusail Multipurpose Hall yesterday. PICTURE: Mamdouh
atar’s handball team created
history yesterday qualifying for their first-ever world
championships semi-finals after beating Germany 26-24 in a superb encounter,
The win sparked wild celebrations
among players and supporters.
And on a night of high drama at the
Lusail stadium, reigning world champions Spain then edged through against
Denmark 25-24 with a last-second
winner from Joan Canellas.
It means Spain set up a heavyweight
clash against current European champions France in one semi-final.
The French cruised through beating
Slovenia 32-23, in an ominous warning
to the other sides.
Qatar will play Poland in the easierlooking of the two semi-finals, giving
the hosts a strong chance of making
their first ever final.
After the match, Qatar’s coach Valero Rivera said the first 30 minutes was
the most impressive they had played in
the tournament.
“I think the first-half performance,
we played our best handball in the
championship and we won because of
that,” he said.
German star player Uwe Gensheimer
said the best team won. “They really
deserved it today,” he said.
Once again it was Qatar’s big game
players - Zarko Markovic, Rafael Capote, Danijel Saric and Borja Vidal who dominated and helped the hosts
into the last four.
Markovic is now the tournament’s
top scorer with 55 goals. Goalkeeper Saric won the man-of-the match award.
It was not until the 13th minute that
either team was able to establish any
sort of lead when two quick penalties
for Qatar, both converted by Markovic, gave the home side a 6-3 lead.
Sport pages 1, 2, 3
4
Gulf Times
Thursday, January 29, 2015
QATAR
HH the Emir Sheikh Tamim bin Hamad al-Thani seen with Prime Minister HE Sheikh Abdullah bin Nasser bin Khalifa al-Thani, Foreign Minister HE Dr Khalid bin Mohamed al-Attiyah, officials of the Foreign Ministry and representatives of the diplomatic
missions at the meeting yesterday.
Emir stresses Qatar’s desire
for good ties with all countries
QNA
Doha
H
H the Emir Sheikh
Tamim bin Hamad alThani yesterday patronised the opening of the
second annual general meeting of the heads of diplomatic,
consular and representative
missions in Qatar.
The meeting held at the
Sheraton Doha Hotel was also
attended by HE the Prime
Minister and Interior Minis-
ter Sheikh Abdullah bin Nasser
bin Khalifa al-Thani and HE
the Foreign Minister Dr Khalid
bin Mohamed al-Attiyah.
The Emir spoke about Qatar’s foreign policy and its future ambitions.
He stressed on Qatar’s policies and beliefs on regional
and international issues.
The Emir reiterated the
country’s keenness on having
good relations with all countries as long as there was no
deviation from the pillars of
the Qatari policy, most nota-
bly of which is truth, mutual
respect and common interests.
The Emir hailed the role of
the diplomats in boosting relations and co-operation between Qatar and countries of
the world on all fronts.
Foreign Minister Dr Khalid bin Mohamed al-Attiyah
thanked the Emir for gracing
the meeting.
Dr al-Attiyah said the meeting was a great opportunity for
conducting a thorough review
of work strategies and for co-
ordination and co-operation
between the ministry and government agencies to promote
the successes of the state’s
foreign policy.
He spoke of the challenges
which the Qatari foreign policy has tackled in the past three
years. He regretted the international community’s failure
to solve major issues like the
Syrian crisis and the Palestinian problem besides racial and
sectarian tensions, which led
to violent incidents in many
countries.
The Foreign Minister explained that the principles
of the Qatari foreign policy
were based on the core values of non-interference in
the internal affairs of states,
the consolidation of Qatar’s
bilateral and multilateral relations by strengthening traditional friendly relations
and the establishment of new
relationships in all parts of
the world, mutual respect
and common interests with
all countries, the best interest of the Qatari citizens, and
good neighbourliness.
He said the most important
form of Qatari foreign policy
is preventive diplomacy that
aims to contain crises and alleviate disputes and conflicts
in the region and the world.
“Moderation and realism
are two inherent features of
Qatar’s foreign policy,” he
added.
He said the human dimension was an important and essential aspect of Qatar’s foreign policy. This was clear in
the important and effective
humanitarian roles that Doha
played many regions of the
world, including mediation for
the release of hostages.
Qatar’s policy is also based
on the diversification of income sources through engaging in building strong partnerships with major economic
blocs and countries, he added.
Dr al-Attiyah touched on
Qatar’s stances towards some
major events in 2014, stressing
Doha’s firm keenness on fraternal relations with all GCC
states.
Gulf Times
Thursday, January 29, 2015
5
QATAR
Prime Minister holds meetings
HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani yesterday met the Prime
Minister of the German state of Lower Saxony, Stephan Weil, on the occasion of his visit to the country. The meeting
reviewed bilateral relations and ways to develop them. Also yesterday, the Prime Minister met with visiting Italian
Minister of Economic Development Federica Guidi. They reviewed co-operation between the two countries and ways
to expand them, particularly in the economic affairs. Page 8
24 in fray for falcon
festival final round
T
he 16th round of the Hudud al
Tahaddi Challenge at the sixth
Qatar International Falcons and
Hunting Festival ended without qualifiers yesterday, with the falcons unable
to disrupt the flight of the homing pigeons.
Today’s line-up is packed with noncompetitive performances including
Hudud Al Habari and Hudud Al Saluki
shows at Sabkhet Marmi near Sealine,
Mesaieed.
The Hudud Al Tahaddi challenge is
a competition in which falcons seek to
obstruct the flight of homing pigeons
which are trained to fly to another
point, many kilometres away.
With the end of the last qualifying
round, 24 competitors remain in the
running for the event’s final round.
These participants have already received QR100,000 each for a total of
QR2.4mn.
The Hudud Al Habari rounds will be
A contestant launches his falcon at the festival yesterday.
open to any falconer, who can participate in a draw to select a Habari (Houbara Bustard) for their falcon to pursue.
The Hudud Al Habari rounds feature
falcons seeking to catch Habari birds,
which are known for their speed, while
the Huhud Al Saluki rounds will be
races in which salukis, or Arabian greyhounds, try to cover a given distance in
the shortest time.
The festival, being organised by the
Gannas Society under the patronage of
HE Sheikh Joaan bin Hamad bin Khalifa al Thani, concludes on Saturday.
8
Gulf Times
Thursday, January 29, 2015
QATAR
Cabinet gives
its approval
for low-cost
warehouses
QNA
Doha
H
E the Prime Minister and
Interior Minister Sheikh
Abdullah bin Nasser
bin Khalifa al-Thani yesterday
chaired the cabinet’s regular
meeting at the Emiri Diwan.
Following the meeting, HE
the Deputy Prime Minister and
Minister of State for Cabinet
Affairs Ahmed bin Abdullah bin
Zaid al-Mahmoud said the cabinet took several decisions.
The cabinet approved a draft
law regulating the registration
of births and deaths, and referred it to the Advisory Council.
Under the draft law, births
within the country must be
reported within 15 days while
deaths or stillbirths must be notified within seven days.
A committee called the standing committee on births and
deaths affairs is to be established
at the Ministry of Interior.
The cabinet also approved a
draft law on businesses of experts, with provisions related to
practising their businesses and
the regulations involved.
Under the draft law, a com-
mittee on experts’ affairs is to
be established at the Ministry
of Justice to oversee such businesses, particularly their registration and reviewing complaints.
The cabinet also approved
granting Economic Zones Company (Manateq) a licence to usufruct land to set up low-cost
warehouse projects.
The licence aims to provide
low-cost storage for companies
as a contribution from the state
to support and stimulate the
private sector as one of the main
pillars of achieving sustainable
development.
The meeting ratified a cabinet draft decision amending
the regulation of some administrative units of the Ministry
of Economy and Commerce and
identifying their powers.
According to the bill, the departments of economic policies and economic research and
studies are to be merged into the
department of policies and economic studies and to be supervised by the assistant undersecretary for economic affairs. The
department is to be tasked with
proposing the state’s macroeconomic scope to help in drawing
up its medium- and long-term
plans, besides suggesting economic policies and programmes
and following up on their execution.
An administrative unit called
the department of government
sector and private sector partnership will be added to the
administrative units under the
jurisdiction of the assistant undersecretary for economic affairs.
The department will be responsible for proposing policies, standards, regulations
and programmes necessary to
achieve partnership between
the two sectors in the areas of
business and investment, identify areas and projects of partnership, and study and analyse
partnership experiences and
their prominent patterns at the
regional and international levels and identify aspects of utilising them.
The cabinet approved hosting
the second meeting of the GCC
ministerial committee on food
safety in Doha on May 7.
It also reviewed a draft law
amending some provisions of
Law No 24 of 2008 on supporting and regulating scientific research and took the necessary
decision.
Emir to attend
graduation of
military college
HH the Emir Sheikh Tamim bin
Hamad al-Thani will today attend
the graduation ceremony of the
10th batch of officer cadets of the
Ahmed bin Mohamed Military
College.
HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani holds
talks with Italy’s Minister of Economic Development Frederica Guidi.
Qatar, Italy discuss trade ties
QNA
Doha
H
E the Minister of Economy and Commerce
Sheikh Ahmed bin Jassim bin Mohamed al-Thani
yesterday met Italy’s Minister
of Economic Development Frederica Guidi and her accompanying delegation.
During the meeting, the two
sides reviewed bilateral ties and
discussed means to develop cooperation in the economic and
investment affairs. They also
discussed enhancing commercial ties by stimulating cham-
bers of commerce in the two
countries and the private sector to benefit from agreements
and exchange of visits.
The meeting discussed possibilities holding and participating in exhibitions and
trade fairs in both countries
to introduce their goods and
products.
Qatar and Italy have several economic and trade
agreements. They include an
economic, trade and technical co-operation agreement
signed in 1996, an agreement on stimulation and mutual protection of investment
(2004), and another on avoid-
ance of double taxation.
In 2013, trade volume between the two countries
amounted to QR15.2bn, of
which Qatari exports were
worth QR9.6bn.
Qatar’s exports to Italy included oil, distillation products, plastics and their products, organic and inorganic
chemicals and aluminium.
Qatari imports from Italy
touched QR5.6bn, mainly
comprising machinery, boilers, electrical and electronic
equipment, iron and steel
products, prefabricated buildings, furniture, lighting and
automobiles.
Minister meets GCC officials
PM congratulates
Greek counterpart
HE the Prime Minister and Interior
Minister Sheikh Abdullah bin Nasser
bin Khalifa al-Thani yesterday
sent a cable of congratulations to
Alexis Tsipras who was sworn in as
Greece’s new prime minister.
Defence minister
holds meetings
HE the Minister of State for Defence
Affairs Major General Hamad bin Ali
al-Attiyah yesterday met with Dutch
Chief of Defence General Tom
Middendorp and his accompanying
delegation. The meeting focused on
ways to promote relations between
the two countries.
HE Maj Gen al-Attiyah also met with
Vice Adm (ret) Andy Winns, Lockheed Martin Corp regional president for the Middle East and North
Africa. During the meeting, they
discussed aspects of co-operation
between the Qatari Armed Forces
and Lockheed Martin Corp.
HE Chief of Staff of the Armed
Forces Air Vice-Marshal Ghanim bin
Shaheen al-Ghanim was present at
the meetings.
In addition, HE al-Attiyah met
International Handball Federation
(IHF) president Dr Hassan Moustafa,
currently on a visit to Qatar to
attend the 24th World Handball
Championship.
New appointment
HE the Minister of Transport Jassim Seif Ahmed al-Sulaiti meets yesterday with heads and
representatives of the maritime authorities in the GCC states on the sidelines of their participation
in the 12th meeting of the Riyadh memorandum of understanding committee for inspection
and oversight of ships, which concluded yesterday. The meeting addressed matters related to
maritime transportation and ways of developing it among GCC states.
HE the Minister of Education and
Higher Education and Secretary
General of the Supreme Education
Council (SEC), Dr Mohamed Abdul
Wahed Ali al-Hammadi yesterday
issued a decision appointing Dr
Aziza Ahmed al-Saadi as director of
SEC’s Education and Training Sector
Strategy Office.
Gulf Times
Thursday, January 29, 2015
9
QATAR
Vodafone to continue
‘3 Months Free’ promo
By Peter Alagos
Business Reporter
Vodafone Qatar CEO Kyle Whitehill delivers a speech at the Distinguished Speaker Series hosted by the
American Chamber of Commerce in Qatar.
Telecoms liberalisation
‘yielding benefits’: CEO
V
odafone Qatar CEO Kyle
Whitehill said the liberalisation of Qatar’s telecommunications sector has been
yielding benefits, particularly for
its consumers and other businesses in Qatar.
Speaking at the Distinguished
Speaker Series hosted by the
American Chamber of Commerce
in Qatar (AmCham Qatar) yesterday, Whitehill said Vodafone’s
clientele base here has reaped liberalisation benefits “in a relatively
short period of time.”
In addition to offering choice,
Whitehill noted that prices for
mobile services “dropped sharply
upon Vodafone’s arrival in the
marketplace.”
“Until now, international calling rates have fallen by up to 92%
when compared to the same rates
before Vodafone Qatar’s entry to
the market. In addition, local calling rates have dropped by almost
82% since Vodafone Qatar started
its operations. Data rates have tremendously declined by around
99% in the same period of time,”
he stressed. Whitehill noted that
Qatar had taken serious steps to
ensure a liberalised market in general, and a liberalised telecommunications industry, in particular.
He added that the Ministry of
Information and Communications Technology’s (ictQATAR)
strategy was designed to constantly review and simplify procedures, protect consumers, and
encourage a world-class digital
atmosphere.
“Our aim is to support all aspects of national economic, human and social development, in
alignment with the ministry’s
regulatory strategy and Qatar’s
National Development Strategy,”
he said.
He added: “As part of its long
term strategy, Vodafone Qatar is
committed to supporting ictQATAR in delivering the National
Broadband Plan and bringing
the benefits of choice to the fixed
market in Qatar.”
AmCham Qatar chairman Robert A Hager said: “The American
Chamber of Commerce in Qatar
continues to be a powerful platform for business leaders to discuss the latest industry trends and
news, as Qatar looks to realise its
economic vision for the future.
“We are pleased to have Mr
Whitehill join us and have learned
a great deal from Vodafone Qatar’s
story and his deep insights into a
growing and strategically critical
sector.”
Hager also announced that
USA Week will take place in February where American business
partners will present to their Qatari counterparts the best ways of
doing business in the US. The full
week of events and meetings will
bring together different Qatari
and US stakeholders and will culminate with a traditional American culinary delight, an authentic
“Chilli Cook Off.”
More information on AmCham
Qatar events is available on
http://www.amchamqatar.
org/index.php/blog/pages/upcoming-events. Follow @AmChamQatar on Twitter for the latest updates.
V
odafone Qatar will continue its “3
Months Free” promotion despite the
Communications Regulatory Authority’s (CRA) order to take down the campaign
from the market, CEO Kyle Whitehill told Gulf
Times.
“It’s still ongoing because we don’t feel it’s
appropriate to take something out of the marketplace if we haven’t had a fair and transparent process to discuss why we’d want to do
something like that.
“So until that, we feel strongly that we
would stay in place. And that is absolutely
what our competitor has done for the multiple times when they’ve been challenged
about regulatory issues over the last year,” said
Whitehill on the sidelines of the Distinguished
Speaker Series hosted by the American Chamber of Commerce in Qatar (AmCham Qatar)
yesterday.
Earlier, the CRA ordered Vodafone to remove all its advertisements related to the telecommunications network’s “3 Months Free”
marketing campaign, which was found to be
Vodafone Qatar CEO Kyle Whitehill.
PICTURE: Jayan Orma
“in breach of” the Code of Advertising, Marketing, and Branding.
But Whitehill stressed that Vodafone has
only remained consistent “with the way the
market has been behaving since June 2014, so I
am not doing anything different from how the
market’s been behaving for last seven or eight
months.”
According to Whitehill, Vodafone has remained truthful to its latest marketing campaign, adding that the “3 Months Free” promotion was “well-received” by its customer
base.
He noted that based on customer testimo-
nial and Vodafone’s client research, “there
was no confusion on the side of the customer
and that they were actually happy about the
promotion.”
The trend, according the Whitehill, is heading towards specific segments of people and
addressing their needs.
“It’s not like I woke up one morning and
said ‘I’m going to do this.’ You do this because
you talk to groups of people and ask them
what they want…So we’re simply responding
to what the market needs,” Whitehill stressed.
Asked if the CRA has already scheduled a
meeting with Vodafone to discuss the issue,
Whitehill said the company had yet to receive
a formal notice for a dialogue.
“We only chose to respond in the media because they (CRA) challenged us in the media
without any due process so we felt it was appropriate for us to explain our side here.
“So, now we are, as we speak, going through
some form of engagement with the CRA, who,
normally is an incredibly supportive and positive body and I am feeling certain we’ll come to
some nice resolution,” Whitehill emphasised.
In an earlier statement, Vodafone maintained that the company “takes the issue of
customer protection seriously.”
BlackBerry Classic available at Vodafone stores
V
odafone Qatar said the latest BlackBerry Classic can
be purchased from its retail
stores and eShop at www.vodafone.
qa/go/BBClassic.
Stocks are available at the company’s stores in Landmark Mall, City
Centre Mall, Villaggio Mall, Msheireb, Al Khor, Al Wakrah, Al Gharrafah, Al Shafi Street, Al Furousiyah
and Ezdan Mall. Stocks will be displayed in LuLu and Al Nasr Vodafone
stores from today.
Featuring the familiar QWERTY
design and packed with high-per-
formance features, the new BlackBerry Classic is priced at QR1,799
and comes with 1GB of free local data
valid for 30 days for Vodafone prepaid customers and 6GB of free local
data valid for 30 days for Vodafone
Postpaid customers.
Customers can also avail of Vodafone’s trade-in offer and exchange
their old handset for the new BlackBerry Classic. Customer can check
the value of their device before trade
in via: www.vodafone.qa/tradein
Vodafone Qatar Chief Commercial
Officer Marc Norris said: “We are
very happy to launch the new BlackBerry Classic in Qatar with another
data offer to our customers for them
to enjoy a great 4G experience over
Vodafone 4G. The BlackBerry Classic responds to customer demand for
a familiar design merged with the security and speed of BlackBerry 10 for
superior productivity, communications and collaboration. The BlackBerry Classic smartphone is built to
meet the needs of productive people
who appreciate the speed and accuracy that can be found with a physical QWERTY keyboard.”
10
Gulf Times
Thursday, January 29, 2015
QATAR
Alfardan to unveil all-new
MINI at Qatar Motor Show
A
Ahmed Abdulla al-Abdulla and Ibrahim al-Jaidah shaking hands after signing the deal.
Barwa signs
expansion
project deal
B
arwa Real Estate has
signed an agreement
with Arab Engineering
Bureau for the second phase
of expansion project for Barwa
Village.
Barwa Real Estate acting
CEO Ahmed Abdulla al-Abdulla and Arab Engineering Bureau
CEO Ibrahim al-Jaidah signed
the agreement.
Arab Engineering Bureau
will provide design and consultancy services to the project.
Work on the project will start
in June and is expected to complete in December 2016. This
is the second collaboration of
Barwa with the Arab Engineer-
ing Bureau, after the Motor
City project.
The decision of expanding Barwa Village comes in
response to business owners
and tenants’ desire for Barwa
to make available more units
with competitive rent value,
especially after the rise in
rents of both commercial and
residential units.
The expansion project will
involve the development of an
additional strip of land attached
to the existing site with approximately 11,100sq m set to house
mixed-use buildings with retail,
showroom and residential facilities in addition to the develop-
ment of some other vacant plots
in Barwa Village into retail units
and showrooms.
The expansion will include
a strip building consisting of
ground floor and mezzanine
offering commercial units, and
first and second floors for residential units. Two plaza buildings will also be constructed
as well as a retail building and
showrooms building, each of
which will consist of a ground
floor and a mezzanine. The
overall commercial component
will offer a total of 119 shops
and the residential component
will provide 88 residential units
of varying sizes.
lfardan Automobiles, the
official importer of MINI,
will unveil the most
powerful MINI yet as part of its
showcase at the fifth edition of
the Qatar Motor Show taking
place from February 6 to 10 at
the Qatar National Convention
Centre.
The Middle East debut of
the all-new MINI John Cooper Works Hatch is expected
to attract MINI aficionados and thousands of visitors who will be attending the
highly-anticipated annul event.
The vehicle packs the most
powerful engine ever for a production MINI – a 2.0-litre
TwinPower Turbo engine delivering 231hp and 320 Nm of
torque.
The John Cooper Works also
draws on the brand’s motorsport
expertise with a package of suspension, brake, aerodynamic
and interior upgrades to deliver
race-car sensations without
losing sight of MINI’s premium
position.
Compared with the previous
MINI John Cooper Works, the
new model delivers 10% more
power and 23% more torque. As
a result, it reaches 0-100 km/h
in 6.3 seconds, 2.0 seconds
quicker than the older model
and comes with upgraded suspension, steering, brakes and
styling.
“The all-new MINI John
Cooper Works Hatch is the
epitome of fun, excitement and
dynamic athleticism – so what
better place to unveil it for the
first time in the region than the
Qatar Motor Show,” said Mohamed Kandeel, chief operating officer, Alfardan Group –
Automotive Operations.
“The reveal will be yet another historic moment for us, following the recent opening of our
new MINI showroom,” he noted.
The all-new MINI John Cooper Works Hatch packs a 2.0-litre TwinPower Turbo engine delivering 231hp
and 320 Nm of torque.
MINI’s high performance
and sporting sub-brand MINI
John Cooper Works continues
to perform well in Qatar with
sales currently accounting for
25% of the total MINI sales
in 2014.
This figure is one of the highest sales shares for John Cooper
Works models in the world.
“We sell more John Cooper
Works models than any other
market in the Middle East, as
such, we’re optimistic for the
launch of the new generation,”
added Kandeel.
The all-new MINI John Cooper
Works Hatch holds an unmistakable appearance due to modelspecific design and equipment
features like the LED headlamps
with white direction indicators,
wheel arch surround with distinctive contours, radiator grille,
side scuttles and tailgate with
John Cooper Works label, sports
exhaust system with special tailpipes; new Rebel Green body
paint finish available exclusively
for the new MINI John Cooper
Works Hatch.
The sports car’s interior has
exclusive John Cooper Works
sports seats in Dinamica/fabric
with integrated headrests, John
Cooper Works entry sills, John
Cooper Works steering wheel
with multifunction buttons and
shift paddles in conjunction with
6-speed Steptronic sports transmission, John Cooper Works gear
lever or selector lever; cockpit
displays, central instrument display and car key in model specific
design and more.
For extreme driving fun with
comfort and safety, the new
model will also be available with
the latest technologies including: park distance control; parking assistant; rear view camera;
and Driving Assistant including camera-based active cruise
control, collision and pedestrian
warning with initial brake function, high beam assistant and
road sign detection.
It also has lighting package
with LED interior ambient lighting with continuously variable
colour adjustment.
Another feature is the Comfort Access: electrically operated
glass roof; interior and exterior
mirror with automatic antidazzle
function; seat heating; 2-zone
automatic air conditioning;
MINI navigation system; MINI
navigation system Professional;
MINI Radio; Visual Boost and
the Harman Kardon hi-fi speaker
system.
QIC and Huawei partner to
encourage healthy lifestyle
Q
track wearable band that offers various fitness-related features and can be connected to
both Android and iOS devices. In addition to
its big-data tracking capabilities, TalkBand B1
wristband also features wireless voice calling by
easily removing a built-in Bluetooth earpiece.
The sleek band can also track steps taken, miles
covered, calories burnt, activity time, progress
as well as the quality and duration of sleep time.
Ali al-Fadala, senior deputy group president
and CEO of QIC Group, said: “QIC has carved out
a distinctive approach towards corporate social
responsibility (CSR) by demonstrating its continued commitment to local sporting events and
to raising Qatar’s regional and global profile.”
A graphic image of the proposed Barwa Village development project.
atar Insurance Company (QIC) will
partner Huawei to offer wearable ‘TalkBand B1’devices on National Sports
Day to promote and encourage a healthy and
balanced lifestyle for people of Qatar.
As a responsible corporate citizen, QIC said
it is committed to strategic partnerships that
help build healthy and prosperous communities. By offering Huawei TalkBand B1 wearable
devices to the winners and runners-up of the
Qatar Central Bank (QCB) Marathon, which is
to be held on February 10, QIC would “once
again demonstrate its commitment towards
building a healthier nation.”
Huawei TalkBand B1 is a smart talk-and-
Expat jailed for killing compatriot
ibq names winner of monthly prize draw
By Ramesh Mathew
Staff Reporter
A
primary court in
Doha has awarded a
10-year jail-term to
a 44-year-old Indian expatriate for killing a colleague,
also an Indian national, in
April last year.
The court also ordered
the guilty to pay a blood
money of QR200,000 to the
kith and kin of the victim.
The incident took place at
their company accommodation in a villa compound in
Al Wukair area.
The court yesterday found
the accused, an air-conditioning mechanic, guilty of killing
the 26-year-old fellow worker
over an altercation.
According to the chargesheet, the victim was on the
terrace to dry his clothes, when
he was attacked by the accused
with a rod, which resulted in
his instantaneous death.
The accused was apprehended two days after the
murder.
Reacting to the judgment
of the first instance court, the
counsel for the accused said
they will appeal in the higher
court.
The convict belongs to
Kerala’s Thiruvananthapuram
district while the victim hailed
from Madhya Pradesh.
I
nternational Bank of Qatar (ibq) has announced the
winner of the bank’s monthly prize draw this January for the
ibq loyalty programme, thanq.
Sankar Rajamani said he
was “delighted” after winning
100,000 thanq reward points
and was also “pleased” after being informed that they could be
redeemed for hotel accommodation as he was, incidentally,
planning a trip to Scotland. He
received his prize in a ceremony
held at the ibq headquarters.
Andrew Ball, ibq AGM and
head of retail banking, said: “We
are particularly pleased to declare
Mr Sankar Rajamani as this year’s
first lucky winner of our monthly
thanq prize draw, as he was one of
the first customers to join the programme when it was launched.
“Thanq continues to be our
way to thank our loyal customers to show them how much we
appreciate their loyalty. thanq
really offers them a unique opportunity to enjoy superb travel
offers anywhere in the world.”
Al-Fadala with Fu at the agreement signing.
PICTURE: Thajuddin
Philip Fu, general manager, Huawei Tech
Investment Co, said: “We are extremely delighted to partner with QIC to support and
celebrate National Sports Day. Together with
QIC, we are happy to offer our popular wearable device to help raise awareness about
fitness and encourage healthy lifestyles and
wellbeing for all the people in Qatar.”
Sankar Rajamani receives a cheque worth 100,000 thanq reward points
after winning the bank’s prize draw for January.
Qatar Airways fetes Privilege Club members
Qatar Airways’ frequent flyer programme, Privilege Club, hosted for the third consecutive year a ladies-only red carpet gala dinner, in recognition of the airline’s top platinum
and gold card members.
Gulf Times
Thursday, January 29, 2015
11
REGION
Iran, Europe negotiators meet in Istanbul today
AFP
Tehran
I
ranian officials will meet with
European members of the
P5+1 group in Istanbul today
under the ongoing diplomatic effort to secure a deal over Tehran’s
disputed nuclear programme.
The meeting with British,
French and German diplomats
was announced by Iran’s foreign
ministry spokeswoman Marzieh
Afkham during a weekly press
briefing in Tehran.
The EU, which has chaired
the P5+1 talks, said separately
that its political director Helga
Schmid would also attend.
Under an interim agreement,
representatives of the P5+1
(United States, Russia, China,
Britain, France and Germany)
and Iran gave themselves until
March 31 to reach a political deal.
The two parties are seeking a
comprehensive accord by a June
30 deadline. Two such deadlines
were missed last year and both
sides have admitted that big differences remain on the hard detail of what the final pact would
look like.
Afkham told reporters there
could be meetings with P5+1
members at a security conference in Munich next month,
where Iran’s Foreign Minister
Mohamed Javad Zarif is already
scheduled to meet US Secretary
of State John Kerry.
Under an interim deal, Iran’s
stock of fissile material has been
diluted from 20% enriched uranium to 5% percent in exchange
for limited sanctions relief.
Experts say such measures
pushed back the “breakout capacity” to make an atomic weapon, which Iran denies pursuing.
Tehran insists its nuclear programme is for domestic energy
production and that it needs to
increase its enrichment capacity
to make fuel for a fleet of power
reactors that it is yet to build.
World powers, however, are
sceptical about why Iran needs
such a large enrichment capability, and UN atomic inspectors say Tehran has not yet fully
addressed questions about past
nuclear activities.
Zarif meanwhile was quoted
by an Iranian newspaper yesterday as saying there was a “general agreement that Iran could
have a nuclear enrichment programme, no sites will be closed
and sanctions should be lifted”.
“But the discussions are con-
tinuing on the level of enrichment, on when Iran will begin
industrial scale enrichment and
how nuclear research and development will be done,” he told
Etemad daily.
The future of a heavy water reactor at Arak in central Iran is also
to be resolved, Zarif added.
*Iran appointed a new UN
ambassador yesterday following
Washington’s refusal to grant a US
visa to a previous nominee over
the 1979 embassy hostage crisis,
state news agency Irna said.
“Gholam-Ali Khoshroo has
been chosen as the Islamic Republic’s permanent ambassador
to the United Nations in New
York,” the foreign ministry said,
quoted by Irna.
Khoshroo, ambassador to
Switzerland since July 2014, previously served under current
President Hassan Rouhani as a
member of an Iranian team negotiating with the EU on its nuclear
programme.
A former deputy foreign minister, the 60-year-old diplomat already served at the United Nations
between 1989 and 1995.
The foreign ministry renewed
its “protest” over the US refusal to
grant a visa to Hamid Aboutalebi
because of alleged links to the
hostage crisis that led to a break in
diplomatic ties between the two
countries that is still in effect.
Aboutalebi, a former ambassador to the EU, has insisted he was
not part of the hostage-taking in
November 1979, when Islamist
students who had overthrown the
pro-Western shah seized the US
embassy, but he later joined the
student group.
He has said he worked as an
interpreter when the students
released 13 women and African
Americans.
The remaining 52 diplomats
spent a total of 444 days in captivity.
Bahrain Shia
leader rejects
charges as his
trial begins
Bahrain’s top opposition
leader goes on trial on
charges of promoting the
violent overthrow of the
political system
Agencies
Manama
B
Protesters demonstrate against the Houthi movement in Sanaa yesterday.
US in contact with Houthi
militia in Yemen: Pentagon
AFP
Washington
U
S officials are holding discussions with
representatives of the
Shia militia in Yemen who have
forced the resignation of the
country’s president, a Pentagon
spokesman said on Tuesday.
But the discussions with
the Houthi militiamen do not
amount to an agreement to
share intelligence on Al Qaeda in
Yemen, Rear Admiral John Kirby
told reporters.
“Given the political uncertainty, it’s fair to say that US
government officials are in
communication with various
parties in Yemen about what is a
very fluid and complex political
situation,” Kirby said.
“It is also accurate to say that
the Houthis, as participants in
... these events, will certainly
have reason to want to speak to
international partners and the
international community about
their intentions and about how
this process is going to unfold,”
he said.
“The US government is participating in those discussions.”
But asked if the Americans
and Houthis were sharing intelligence on the movements of Al
Qaeda in the Arabian Peninsula
(AQAP), Kirby said: “There’s
no intelligence sharing regimen with the Houthis. There’s
no formal agreement to do that,
and you need those kinds of formal agreements in order to be
able to do that.”
Washington has vowed to keep
up its fight against AQAP despite
the turmoil gripping Yemen,
where Western-backed President Abd-Rabbu Mansour Hadi
has stepped down after the militia seized the presidential palace.
The United States conducted
a drone strike on Monday, killing three suspected Al Qaeda
militants, a tribal source said.
Washington has long relied
on Yemen’s government to help
it target Al Qaeda extremists
and a small contingent of US
special forces is deployed to the
country to help its army battle
AQAP, which US intelligence
officials view as the most dangerous branch of the militant
network.
But US officials are worried
that the counter-terrorism and
intelligence operations in Yemen will be jeopardised by the upheaval unfolding in Sanaa.
Michael Vickers, undersecretary of defence for intelligence,
said last week at an Atlantic
Council event that it was unclear if the aim of the Houthi
militia “is to take over the state
as much as it is to exercise influence and refashion it in a way
that they think is more aligned
with their interests”.
In Sanaa yesterday, Houthi
militiamen fired in the air and
made arrests for the third time
this week to prevent a rally
against their tightening grip on
the capital, witnesses said.
They said the militiamen also
used batons against the demonstrators, a number of whom
were injured.
“No to confessionalism,” the
protesters chanted before being forced to abandon a planned
march through the centre of
Sanaa.
It was the third such incident
since Sunday.
Opponents of the Houthis
have been urging demonstrations against their occupation of
the capital, which has plunged
Yemen into crisis.
The militia, who descended
from their base in Yemen’s
north to overrun Sanaa in September, last week seized control
of the presidential palace and
key government buildings.
On Tuesday, however, they
freed a top aide to Hadi.
ahraini Shia opposition
chief Sheikh Ali Salman
rejected charges that he
tried to overthrow the country’s
regime, as his trial opened yesterday, a judicial source said.
Hours later, hundreds of supporters gathered outside Salman’s home in a Manama suburb
and clashed with riot police, who
used teargas to disperse them,
witnesses said.
The judge decided to keep Salman behind bars and set the next
hearing for February 25, his influential Al Wefaq bloc said.
Salman, 49, was arrested on
December 28, sparking neardaily protests across the kingdom.
The Al Wefaq head has been
accused of “promoting the overthrow and change of the political
regime by force” and of inciting
disobedience and hatred in public statements.
He was present at yesterday’s
hearing before the Higher Criminal Court, which was held under
tight security and attended by
representatives of several Western embassies.
Salman’s defence team called
for his release on bail as the opposition chief pleaded not guilty,
judicial sources said.
In court, Salman denied all
the charges and said he had
been calling for reforms in Bahrain through legal and peaceful means, according to defence
team member Mohamed Ahmed.
Sheikh Salman also said he
had conveyed this position to
King Hamad and Crown Prince
LuLu Group moves up in list of biggest retailers
U
AE-based LuLu Group, which runs
the LuLu chain of supermarkets, has
been moved up in the latest edition
of a list of the biggest retailers in the world.
The company, headed by leading nonresident Indian entrepreneur Yusuffali
MA, was ranked 183rd in the 2013 list of the
250 biggest retail businesses published by
Deloitte, up 14 places compared to the previous year.
Deloitte said the retailer averaged compound annual growth rate of more than 18%
between 2008 and 2013. The group’s revenues in 2013 were estimated at $5bn, up
from $4.5bn in the previous year.
LuLu Group is the only entry from the
Middle East in the global 250 list, which was
headed by US giant Wal-Mart whose revenues in 2013 were put at more than $476bn.
LuLu Group is set to open 15 new hypermarkets in the UAE, Oman, Bahrain, Kuwait, Saudi Arabia and Egypt in the next few
months. LuLu had earlier announced plans
to open hypermarkets in Malaysia and Indonesia.
A protester kicks a teargas canister fired by riot police during clashes
in the village of Bilad al-Qadeem, south of Manama yesterday.
Salman in person, according to
Ahmed.
If convicted, he faces up to 10
years in jail under Bahraini law,
Ahmed said.
He also faces three other,
lesser charges, including inciting
hatred and insulting the interior
ministry.
Lawyer Jalila al-Sayed, a defence counsel, denounced what
she called irregularities, saying authorities had manipulated
Salman’s speeches to build their
case by removing peaceful comments.
“The conditions are not there
for a fair trial,” she told a press
conference after the hearing.
Salman’s arrest has also
sparked condemnation from the
United States, Iran and international human rights groups.
In a joint statement yesterday, 109 parliamentarians from
43 countries called for Salman’s
“immediate release”.
Salman himself, in a letter from
prison published on Al Wefaq’s
website, likened himself to Nelson Mandela, who spent 27 years
in South African prisons during
his fight against apartheid.
“I am in prison for the same
reasons that led to the imprisonment of Nelson Mandela - (the
call for) equality, freedom and
democracy,” he said.
“Do not feel sad for my imprisonment. I am ready to spend
my whole life as a prisoner for
you and for your children’s happiness.”
Salman said he had been questioned over his calls for an end to
“discrimination” against Shias
and for “a democratic regime” in
Bahrain.
He urged the international
community to “support the Bahraini people in democratically
choosing their government...
and protect their peaceful gatherings from (state) brutality”.
Al Wefaq said that Salman’s
“continued detention will only
deepen the gap between the regime and the people”.
Bahrain has been rocked by
unrest since a 2011 Shia-led uprising demanding a constitutional monarchy and more representative government.
At least 89 people have been
killed in clashes with security
forces since 2011, while hundreds have been arrested and put
on trial, rights groups say.
12
Gulf Times
Thursday, January 29, 2015
ARAB WORLD
UN rights chief faults both sides over war probes
Reuters
Geneva
I
srael and the Palestinians
have failed to adequately investigate the full range of
apparent human rights violations committed during the Gaza
war last summer, the UN human
rights chief said in a report seen
by Reuters yesterday.
Zeid Ra’ad al-Hussein cata-
logued abuses blamed on both
sides, including Israeli shelling
of hospitals, of schools housing
displaced people and of a group of
children playing hide-and-seek
on a beach.
He cited witness reports of
Israeli soldiers firing on civilians with white flags as they
fled an area where a 16-yearold girl in a wheelchair had
been killed by shelling, and
the shooting of an ambulance
driver as he went to evacuate a
child.
Alleged abuses by Palestinian
armed groups included locating military objects in civilian
buildings, launching rockets
from densely populated areas
and executing suspected collaborators.
After an initial examination of
over 100 incidents, Israel’s Military Advocate General (MAG)
opened 13 criminal investiga-
tions but closed nine cases, said
Zeid, whose document is to be
presented to the UN Human
Rights Council in March.
Investigations carried out
by Israel’s fact-finders and reviewed by the MAG were “positive steps towards establishing accountability”, but with
two serious shortcomings, he
wrote.
They focused only on “exceptional incidents”, and the MAG’s
role, as both adviser on the legality of military operations
and investigator of actions that
may have been carried out on
his own advice, raised concern
Israel could take a narrow view,
he said.
“These concerns endure in the
context of the continued failure
to ensure meaningful accountability in respect of earlier escalations in Gaza,” Zeid wrote
to the rights council, which will
hear from its own investigative
commission on the occupied
Palestinian territories during the
March session.
Zeid said Palestinian authorities also had an obligation to
ensure that alleged violations of
international law were “promptly, thoroughly, effectively, independently, impartially and transparently investigated, and that
those responsible are brought to
justice”.
Protesters
attempt to
storm UN
compound
Rights group
slams ‘policy’
of bombing
Gaza homes
Rights group B’Tselem
questions Israel’s claims that
it went out of its way during
the Gaza conflict to respect
international humanitarian
law
Agencies
Jerusalem
A
n Israeli rights group yesterday criticised the government for what it called
a deliberate policy of launching
air strikes on homes that killed
hundreds of civilians during last
year’s Gaza war.
In a report examining 70 raids
on residential buildings in the
besieged Palestinian territory,
B’Tselem said Israeli officials
were responsible for civilian
casualties during the 50-day
conflict that killed nearly 2,200
Palestinians.
“A hallmark of the fighting in
Gaza this summer was the numerous strikes on residential
buildings, destroying them while
their occupants were still inside,”
the 49-page report said.
“This aspect of the fighting
was particularly appalling” and
was “the result of a policy formulated by government officials
and the senior military command.”
In the cases B’Tselem investigated, 606 people were killed,
70% of whom were under 18 or
over 60.
The United Nations says the
conflict’s Palestinian death toll
was almost 70% civilian.
The July-August conflict also
killed 67 soldiers and six civilians
on the Israeli side.
B’Tselem said on Tuesday that
it had not yet received a response
from Prime Minister Benjamin
Netanyahu’s office regarding the
report, but the army rejected its
allegations.
The group questioned Israel’s
claims that it went out of its way
during the conflict to respect international humanitarian law.
“You cannot say that the army
didn’t know or couldn’t know
how many civilians would get
killed during those attacks,”
B’Tselem’s head of research Yael
Stein said.
“You can’t maybe (know) on
the first day or the second day.
But on the 10th day or the 20th
day, when you see how many civilians are getting killed... these
attacks shouldn’t have happened,” she said.
B’Tselem demanded explanations for possible Israeli violations of international law—specifically in deciding whether a
home constituted a legitimate
military target, and whether its
destruction gave a distinct military advantage outweighing collateral damage.
The army insisted it only hit
legitimate military targets and
blamed Gaza’s Islamist rulers
Hamas for civilian casualties.
“The IDF (Israel Defence Forces) does not attack residential
buildings,” it said in a statement.
“Attacks during the operation
were only directed at residential
buildings where they became legitimate military targets, or when
a person constituting a legitimate military target was in the
structure.
“The high number of ostensibly residential structures attacked point not to an illegal punitive policy of the IDF but rather
to the widespread and systematic
unlawful use made of such structures by the terror organisations
in Gaza.”
Stein said that “even if there
was somebody from Hamas in
the house... the numbers of civilians killed in each incident is
so high that it’s not a matter of
whether it was a legitimate military target or not.”
She said more residential
buildings had been bombed during this campaign than during
the next-deadliest Gaza war in
2008-9, and in that conflict most
cases were explained by the military.
The report criticised what it
said were attempts to shirk responsibility for civilian deaths by
solely blaming Hamas.
“It is true that Hamas and
other organisations operating in
the Gaza Strip do not abide by
international humanitarian law,”
it said, referring to rocket fire at
Israeli cities from densely populated civilian areas inside Gaza.
But insistence that Hamas was
to blame for all civilian deaths in
Gaza was an attempt to place “no
restrictions whatsoever on Israeli
action... no matter how horrifying the consequences”, it said.
“This policy is unlawful
through and through.”
Also, the group noted that
warnings to civilians were either
absent, insufficient or ineffective.
“The testimonies by residents
of the homes and eyewitness accounts gathered by B’Tselem’s
researchers paint a horrific picture,” according to the rights
group, which added that in some
circumstances many members of
a single family were killed.
AFP
Gaza City
D
Protesters attack the offices of the UN Special Co-ordinator for the Middle East Peace Process in Gaza City.
L
ibyan carrier Buraq Airlines
said yesterday it had suspended all flights for two
days after one of its air crews was
killed in an attack on a luxury hotel in Tripoli.
It gave no details but a Libyan
official has said a French national
had been identified by his work
identity card for the airline. Libyan websites said a crew of three
were killed
Libyan carriers have struggled
to keep the country connected to
neighbouring states since fighting between factions vying for
power in Libya damaged Tripoli’s
main airport last year, causing
foreign airlines to pull out.
On Tuesday, gunmen stormed
the luxury Corinthia hotel, one of
the last large hotels in Tripoli still
open, killing around nine people,
among them five foreigners.
“Buraq Airlines informs that
all flights will be halted in the
next two days due to reasons out
of our control,” the airline said on
its Facebook website.
Turkish Airlines briefly re-
turned last year to fly to Misrata,
east of Tripoli, before halting
flights this month due to repeated air strikes on that airport, part
of a struggle between Libya’s two
rival governments.
Buraq had been trying to
work around a flight embargo
by the European Union by leasing planes and crew abroad.
Libyan-registered planes are not
to allowed to cross EU airspace lengthening flights to Istanbul,
the main foreign connection still
available, as planes need to make
a detour around Cyprus.
Travel has been further complicated by the a ban imposed
by Egypt and Tunis on flights to
Tripoli and Misrata, which is under the control of a rival government since a group called Libya
Dawn seized Tripoli in summer.
The main eastern airport
Benghazi has been closed since
May due to fighting in the city.
The United Nations and most
Western and Arab countries
evacuated their diplomats in
the summer during fighting between factions who are battling
for control of the oil-producing
state four years after the fall of
Muammar Gaddafi.
ozens of protesters yesterday tried to storm the
Gaza headquarters of the
United Nations after the UN announced it lacked funds to rebuild the war-battered Palestinian territory.
Around 200 people demonstrated outside the UN compound in Gaza City, burning
tyres and throwing stones.
“We are still homeless!” they
chanted.
Some tried to storm the compound before police of Hamas,
the de facto power in Israeli-besieged Gaza, broke up the demonstration.
A UN statement condemned
the assault, saying security
forces had not provided enough
security ahead of the planned
protest.
“Despite repeated assurances, the security forces in
Gaza did not take the necessary
and timely measures to protect
(the) compound,” it said, adding the UN held Hamas “fully
responsible” for the safety of
its staff.
The incident came a day after Palestinian refugee agency
Unrwa announced it cannot afford to repair tens of thousands
of homes damaged during the
July-August war between Israel
and Hamas because donors have
failed to pay.
Some 100,000 people remain
homeless since the 50-day conflict, which killed nearly 2,200
Palestinians and 73 people on
the Israeli side.
Unrwa said cutting subsidies
to displaced residents now renting alternative accommodation
could force large numbers back
to UN schools and centres which
are already sheltering 12,000
people.
Reconstruction has barely
begun, with experts saying it
will take years even if Israel significantly eases its eight-year
blockade on Gaza.
A Hamas official has warned
the coastal territory could become a breeding ground for extremism unless promised reconstruction is accelerated.
Amnesty urges UN
sanctions in Libya
Carrier halts flights
after crew killed
Reuters
Tripoli
But his office had no information that any investigation
was being carried out, he wrote.
“There are again fears that impunity will prevail and only add
further fuel to the possibility of
more violence in the future.”
The 50-day war between Israel and Gaza’s Hamas rulers
killed more than 2,100 Palestinians, mostly civilians while the
Israeli death toll was 73, mostly
soldiers.
Agencies
Tripoli
R
Damaged doors are seen at the Corinthia Hotel in Tripoli yesterday,
where gunmen blew themselves up on Tuesday after storming it.
ights group Amnesty International called yesterday for targeted UN sanctions and investigations into
possible war crimes in Libya to
end a cycle of abductions and
summary killings by rival armed
factions.
An Amnesty report released
yesterday focused on Benghazi,
where an alliance of Islamist
militants and ex-rebels, known
as Shura Council, has battled
for months with forces allied
to army General Khalifa Haftar,
who declared war on Islamist extremists.
The battle over Benghazi is
part of a wider conflict involving two major factions and their
competing governments struggling for control of the country
and its oil resources four years
after civil war ousted Muammar
Gaddafi.
London-based Amnesty said
that the fighting in Benghazi,
the main city in eastern Libya,
involved tit-for-tat attacks, abductions, summary killings and
torture by each side.
“Benghazi has steadily descended into chaos and misrule.
The city has been ripped apart
by spiralling violence waged by
rival groups and their supporters
seeking vengeance,” said Hassiba
Hadj Sahraoui, a regional deputy
director for Amnesty.
Amnesty’s statement called for
an international demonstration
of will to investigate war crimes
and hold perpetrators accountable as a way to end impunity.
Amnesty called on the UN
Security Council to impose targeted sanctions such as travel
bans and asset freezes on those
responsible for violations. It said
the International Criminal Court
should also expand its probe into
war crimes.
Amnesty accused both forces from the Shura Council and
fighters allied to Haftar’s Operation Dignity of carrying out abductions and assassinations for
political motives.
The United Nations is negotiating in Geneva with some of
Libya’s factions to form a unity
government, end hostilities
and return the country to some
stability. But key factions from
Tripoli have so far stayed away.
“Efforts to reach a political
settlement will be meaningless if they do not ensure human
rights concerns are addressed,”
Amnesty said. “Human rights
abuses committed by the warring parties are fuelling grievances and cannot be swept under
the carpet.”
Ending the conflict can only be
achieved through a political deal,
Libyan and regional leaders said
yesterday after African Unionled talks.
“The only solution to bring
an end to the current crisis in
Libya is a political settlement,”
Libyan Foreign Minister Mohamed Dayri said after meeting with the AU’s International Contact Group for Libya,
ahead of a summit tomorrow of
the continent’s leaders in the
54-nation bloc.
Gulf Times
Thursday, January 29, 2015
13
ARAB WORLD
Jordan offers
to trade Iraq
militant for
captive pilot
Reuters
Amman
J
ordan offered yesterday to
hand over an Iraqi woman
on death row for her role in
a 2005 suicide bomb attack if
a Jordanian pilot captured by
Islamic State was freed.
Government
spokesman
Mohamed al-Momani made no
mention of Japanese hostage
Kenji Goto, a veteran war reporter who is also being held by
the insurgent group.
“Jordan is ready to release
prisoner Sajida al-Rishawi if
the Jordanian pilot Lieutenant
Muath al-Kasaesbeh is released
and his life spared,” Momani
was quoted as saying on state
television.
Foreign Minister Nasser Judeh later said on his official
Twitter account that a Jordanian request for proof that
Kasaesbeh was safe and well
had gone unanswered.
The pilot was captured after his jet crashed in northeastern Syria in December during a
bombing mission against Islamic
State (IS), which has captured
large tracts of Syria and Iraq.
His fate was thought to be
tied to that of Goto after a video
was released on Tuesday purporting to show the Japanese
national saying he had 24 hours
to live unless Jordan released alRishawi.
The voice on the video said
Kasaesbeh had a shorter time to
live. Japan confirmed the existence of the video at 11pm (1400
GMT) on Tuesday.
Momani said Jordan’s priority was to secure the release
of the pilot, who hails from an
important Jordanian tribe that
forms the backbone of support
for the Hashemite monarchy.
Several hundred people, including Kasaesbeh’s relatives,
gathered in front of the office
of Jordan’s prime minister on
Tuesday, urging authorities to
meet Islamic State’s demands.
Al-Rishawi has been held in
Jordan over her role in a suicide
bombing that killed 60 people
in Amman.
In Japan, a spokesman at
Prime Minister Shinzo Abe’s
office said he had no immediate comment on the Jordanian
statement.
The hostage-taking presents
Abe with his biggest diplomatic crisis since he took power
in 2012, and there has been a
flurry of unconfirmed reports
in Japanese media that a swap
deal involving Goto might be in
the works.
Goto’s mother, speaking
shortly after the presumed
deadline had passed late yesterday, said: “My emotions are all
over the place.”
“A time limit has been set,
and that has made me nervous,”
Junko Ishido told reporters at
her Tokyo home.
She had earlier urged the
Japanese government to do its
utmost to save his life and reiterated that her son was not an
enemy of Islam.
Abe said Tuesday’s video
was “despicable”. He called on
Jordan to co-operate in working for Goto’s quick release, but
promised that Tokyo would not
give in to terrorism.
Goto went to Syria in late October. According to friends and
business associates, he was attempting to secure the release
of Haruna Yukawa, his friend
and fellow Japanese citizen who
was captured in August.
In the first of three videos
purportedly of Goto, released
last week, a black-clad masked
figure with a knife said Goto and
Yukawa would be killed within
72 hours if Japan did not pay IS
$200mn.
The captor resembled a figure
from previous IS videos whose
threats have preceded beheadings.
Anwar Tarawneh (right), the wife of captive pilot Lieutenant
Muath al-Kasaesbeh, and his sister (centre) weep after listening
to a statement released by Islamic State in front of the Royal
Palace in Amman yesterday.
Burning vehicles are seen near the village of Ghajar on Israel’s border with Lebanon yesterday.
Soldiers killed as Israel,
Hezbollah exchange fire
Israeli military leaders
convene to discuss their
response as Prime Minister
Benjamin Netanyahu warns
that the army is “ready to act
with force on any front”
AFP
Majidiya, Lebanon
T
wo Israeli soldiers and a
Spanish UN peacekeeper
were killed yesterday as
Lebanon’s Hezbollah and Israel
exchanged fire in their most serious clashes in years.
The violence raised fears of
another full-blown conflict
erupting between the bitter
enemies, who fought a monthlong war in 2006.
The two soldiers were killed
when Hezbollah fired an antitank missile at a military convoy in an Israel-occupied border area, the army said.
Seven other soldiers were
wounded but local media said
none had suffered life-threatening injuries.
Israel
responded
with
“combined aerial and ground
strikes” on southern Lebanon
after the attack—an apparent
retaliation for a recent Israeli
strike on the Golan Heights
that killed senior Hezbollah
members.
Lebanese security sources
said Israeli forces had hit several villages along the border.
Clouds of smoke could be
seen rising from Majidiya village, one of the hardest hit.
There was no immediate information on casualties.
A 36-year-old Spanish corporal from the UN peacekeeping force in southern Lebanon
was killed in the exchange of
fire, officials said.
The 10,000-strong Unifil
mission said it had observed
six rockets fired towards Israel
from southern Lebanon and
that Israeli forces “returned
artillery fire in the same general area”.
It said the precise cause of
the peacekeeper’s death was
“as yet undetermined” and
urged all sides to show “maximum restraint to prevent an
escalation”.
Hezbollah said it had targeted an Israeli military convoy
“transporting several Zionist
soldiers and officers”.
“There were several casualties in the enemy’s ranks,”
Hezbollah said in a statement
broadcast on the Shia militant
group’s Al Manar television
channel.
Israel said that mortar fire
was also aimed across the
border at several military facilities but that no one was
hurt.
Israeli military leaders convened to discuss their response
as Prime Minister Benjamin
Netanyahu warned that the
army was “ready to act with
force on any front”.
On a visit to China, hardline
Foreign Minister Avigdor Lieberman said on Twitter that
Israel should respond to the
attack “in a very harsh and disproportionate manner, as China or the US would respond to
similar incidents”.
Army spokesman Brigadier
General Moti Almoz warned
that Israel was considering further action.
“This is not necessarily the
last response,” he wrote on
Twitter.
Hezbollah’s
attack
was
hailed by the Palestinian Islamist groups Hamas and Islamic Jihad.
“We affirm Hezbollah’s
right to respond to the Israeli
occupation,” Hamas spokesman Sami Abu Zuhri said,
while Jihad’s Quds Brigade
praised the attack as “heroic”.
Israeli security sources said
at least one house in the divided village of Ghajar—which
lies partly in Israel and partly in
Lebanon—had been hit.
All roads to the village were
blocked off by Israeli police,
with a crowd of villagers anxiously waiting to get home to
check on their families.
“Three houses were hit by
rockets,” said Hussein, 31, relaying what he had heard by
telephone from relatives in the
village of 2,000 inhabitants.
He said a number of villagers
had been wounded but did not
know how badly.
Other frantic family members argued with police to be
allowed in to collect their children, who had been locked inside the village school for their
own safety.
Tension in the area had been
Israel has right to self-defence: US
The United States stood by
Israel yesterday as it exchanged
fire with Hezbollah militants in
Lebanon.
“We support Israel’s legitimate
right to self-defence and
continue to urge all parties to
respect the blue line between
Israel and Lebanon,” State
Department spokeswoman Jen
Psaki told reporters.
She added that Washington
condemned Hezbollah’s shelling
of an Israeli military convoy.
The US condemnation came
shortly before the UN Security
Council was to meet on the crisis
in New York.
“We urge all parties to refrain
from any action that could
escalate the situation,” Psaki
said, adding Washington
was closely monitoring the
situation.
building, especially after an
Israeli air strike on the Syrian sector of the Golan Heights
killed six Hezbollah fighters
and an Iranian general on January 18.
The day before the raid, Hezbollah leader Hassan Nasrallah
threatened to retaliate against
Israel for its repeated strikes on
targets in Syria and boasted the
Shia militant movement was
stronger than ever.
Israeli warplanes also struck
Syrian army targets in the Golan Heights early yesterday,
hours after rockets hit the Israeli-held sector.
Defence Minister Moshe
Yaalon said Israel would not
tolerate any attacks.
“We will not put up with any
fire at Israeli territory or any
breach of our sovereignty, and
we will respond with force and
determination,” he said in a
statement.
In 2006, Israel fought a war
against Hezbollah that killed
more than 1,200 people in
Lebanon, mostly civilians, and
some 160 Israelis, mostly soldiers.
Israel occupied parts of Lebanon for 22 years until 2000
and the two countries are still
technically at war.
Yesterday’s missile attack
was on Israeli forces in the Shebaa Farms area, a mountainous,
narrow sliver of land occupied
by Israel since 1967.
Ferocious battle leaves Syria’s Kobane in ruins
AFP
Kobane, Syria
P
ulverised buildings, heavily armed fighters roaming
otherwise deserted rubblestrewn streets: the ferocious battle for Kobane has left the Syrian
border town in ruins, according to
a team of AFP journalists who arrived there yesterday.
Kurdish forces recaptured
the town on the Turkish frontier from the Islamic State
group on Monday in a symbolic blow to the militants
who have seized swathes of
territory in their brutal onslaught across Syria and Iraq.
After more than four
months of fighting, the streets
of Kobane—now patrolled
by Kurdish militiamen with
barely a civilian in sight—were
a mass of debris and buildings
that had in some case been
turned to dust.
Kurdish fighters armed with
Kalashnikov assault rifles greeted
the journalists with a hail of celebratory gunshots into the air and
made the “V” for victory sign.
In one street, an injured
fighter sat on the roadside
next to an unexploded mortar shell, his leg bandaged and
crutches by his side. In anoth-
er, a bright yellow car was left
abandoned, riddled with bullet holes, as two men walked
by to inspect the damage.
On Tuesday, Kurdish forces
battled IS militants in villages
around Kobane, with warnings that the fight was far
from over.
Still, the recapture of
Kobane appeared to be a major
step in the campaign against
the IS militants who had
seemed poised in September
to seize the town, whose symbolic importance had far outgrown its military value.
Analysts said air strikes by
the US-led coalition had been
key to the success of the Kurdish People’s Protection Units
(YPG) in Kobane because the
bombing had taken out some of
the militants’ heavier weaponry and hit their supply routes.
“Our forces fulfilled the
promise of victory,” the militia said, but cautioned that
fighting was not over yet.
A minister in the regional
Kobane government said on
Tuesday that at least half of the
town had been destroyed.
The United States had said on
Tuesday that Kurdish fighters
were in control of about 90% of
the town.
But a State Department offi-
A Kurdish fighter walks through the wreckage of a building in the centre of Kobane yesterday.
cial warned that the militants, also
known as ISIL, were “adaptive and
resilient” and no-one was declaring
“mission accomplished” yet.
“IS control over its most
important strongholds in
Syria and Iraq remains intact
and there is a lack of a local
military force to challenge IS
in places like Mosul,” said Aymenn Jawad al-Tamimi from
the Philadelphia-based Middle East Forum.
Observers say IS lost nearly
1,200 fighters in the battle, of
a total of 1,800 killed, despite
outgunning YPG forces with
sophisticated weaponry cap-
tured from Iraqi and Syrian
military bases.
The combat also sparked
a mass exodus, with some
200,000 people fleeing across
the border into Turkey.
But Turkish security forces on Tuesday fired teargas
and water cannon to push
back people approaching the
barbed wire fence.
The border remained closed
yesterday.
“We won’t let any refugees
cross until further notice,” an
official from Turkey’s disaster
management agency AFAD said.
Turkish authorities were
working to move hundreds
of refugees from Kobane to a
new camp in the southeastern
border town of Suruc which
is able to accommodate up to
35,000 people.
It is the biggest-ever refugee
camp opened by Turkey, which
has taken in 1.7mn Syrian refugees since the Syrian conflict
erupted in 2011 as a popular
uprising against Assad.
Idris Nassan, an official with
the Kobane regional government, said on Tuesday the authorities were urging people
not to return to their homes as
at least 50% of the city was destroyed.
“There is no food, no medicine. We don’t have electricity
or water.”
The US official said many
foreign
fighters—including
Australians, Belgians, Canadians and Chechens were
among the dead militants.
With the eyes of the international media watching, the
militants “wanted to raise the
largest flag they ever made
over Kobane”, the official said.
“Kobane shows that you’re
not going to be part of something great... so the whole
narrative that ISIL is trying to
put out, Kobane really puts a
dent in it.”
14
Gulf Times
Thursday, January 29, 2015
AFRICA
Nigeria army ‘warned
before rebel attacks’
The Nigerian authorities are facing
criticism for the security situation
Agencies
Abuja
A
mnesty International yesterday
claimed that Nigeria’s military top
brass were warned of brutal Boko
Haram attacks on the northeast towns of
Baga and Monguno this month but failed
to take action.
The January 3 onslaught against Baga is
feared to have killed hundreds, if not more,
and destroyed thousands of homes, while
the takeover of Monguno last weekend
was seen as a major setback for the security forces.
Amnesty said it received information
from senior military officers and other
sources indicating that defence officials
were told about Boko Haram’s plans to
attack both towns but did not act on requests to send reinforcements.
“It is clear from this evidence that Nigeria’s military leadership woefully and
repeatedly failed in their duty to protect
civilians of Baga and Monguno despite
repeated warnings about an impending
threat posed by Boko Haram,” said Amnesty’s Africa director Netsanet Belay.
Regarding Baga, Amnesty said troops
in the town in the extreme north of Borno state reported a build-up of insurgent
fighters in the area before the attack.
Islamist rebels also warned civilians
about an impending strike and several
hundred residents consequently fled, the
group added, citing military and local
sources.
A Monguno resident was quoted as say-
Goodluck Jonathan
ing that residents there were also warned
about a looming Boko Haram offensive and
that this information was passed on to the
military but no action was taken.
In a statement, defence spokesman
general Chris Olukolade said the Amnesty
statement was “misleading”.
“The misleading conclusions by Amnesty International could have been
avoided if they had made meaningful efforts to verify the inciting allegations,”
Olukolade said in the statement.
Nigeria’s president Jonathan yesterday
took his re-election campaign to the Niger
Delta, knowing that victory in the key oil
region will help determine the winner of
next month’s vote.
The head of state, who is looking for a
second four-year term, was in Port Harcourt, the capital of Rivers State, which is
controlled by the opposition and seen as a
pivotal election battleground.
Rivers State was run by Jonathan’s Peoples Democratic Party (PDP) until the defection of its governor Rotimi Amaechi in
late 2013 to the main opposition All Pro-
gressives Congress (APC).
It has since been a flashpoint for violence between supporters of the two
parties, with long-standing complaints
from Amaechi about a personal campaign
against him by the government in Abuja.
The PDP spokesman in the oil-producing hub, Emmanuel Okah, said the party
was “on a mission to reclaim what was
fraudulently stolen from it by the APC”.
He told AFP: “Apart from retaining the
presidency, the PDP will also take over the
Rivers government house from the usurpers.”
Thousands of people thronged the
40,000-seat stadium where Jonathan addressed a rally under tight security and
played up his connection to the state.
“This is part of my area,” he said in a
short speech, reminding the crowd how
his home state of Bayelsa was formed from
part of Rivers State and playing up his connections to the city.
As a southerner and Christian, he would
ordinarily be expected to count on widespread support from his kinsmen.
But apparent momentum for the APC—
fuelled by criticism of Jonathan’s failure to
end the Boko Haram Islamist insurgency in
the north—has given added importance to
control of the major urban centre.
APC chairman for the state Davies Ibiamu Ikanya said he was confident of winning the February 14 presidential and
parliamentary polls, as well as the governorship and state assembly vote two weeks
later.
“President Jonathan won massively in
the state in 2011 but he has lost that goodwill because of poor performance in office,” he said.
“The people are clamouring for a change
which the APC is ready to bring about.”
Political commentator Chris Ngwodo
said regaining control of Rivers—traditionally held by the ruling party—was vital
for Jonathan and could help determine the
outcome of the election.
“Losing Rivers is going to be a very, very
significant loss in terms of votes, in terms
of sheer numbers... and will add to the
APC’s national strength,” he said.
“It (the APC) already controls Lagos and
Kano. It would be disastrous for the PDP.”
There were few doubts about Jonathan’s chances in his hometown of Otuoke,
where a huge billboard of the president
dominates the only road into the sleepy
farming and fishing community.
Jonathan is the first president from the
Ijaw minority ethnic group and is seen as
a figure of hope for his people clamouring
for a fair share of oil extracted locally.
“Our son has done well. His performance speaks for him,” said Osain Francis
Ogbuoni, a 30-year-old youth leader.
“Given the deluge of problems he inherited from his predecessors, it will be unfair
to deny him re-election.
“We will rally everybody in the Niger
Delta for him. He has brought development and progress to us.”
Many in Otuoke point to how Jonathan
put the town on the map: a university,
hospital and road were built and business
opportunities created.
Others credit him for ending militant violence in the Delta and warn that unrest could
flare up again if the APC candidate Muhamedu
Buhari, a former military ruler, wins.
“Our support for him (Jonathan) is not
on sentiment but merit. He has achieved a
lot for Nigeria within four years,” said Oba
Green, 33, a health science graduate.
Struggling to survive
A park ranger with a northern white female rhinoceros named Najin at Ol Pejeta Conservancy, some 290kms north of the Kenyan capital, Nairobi. Najin is one of only five
members of the sub-species left on the planet, three of which reside at Ol Pejeta Conservancy. Conservationists and scientists met in Kenya this week to come up with a
last ditch plan to save the northern white rhinoceros from extinction.
12 Mali
rebels die
in suicide
bombing
AFP
Mali
A
n attack overnight
in northern Mali by
a
pro-government
armed group including suicide bombers killed a dozen
people, security sources said
yesterday.
“GATIA fighters, accompanied by suicide bombers,
attacked a rebel Tuareg and
anti-government Arab position in the night from Tuesday
to Wednesday near the town of
Tabankort. There were a dozen deaths in total,” a Western
military source told AFP.
“The situation is very volatile, and it is essential to calm
the situation,” added the
source.
A security source in MINUSMA—the United Nations peacekeeping mission in
Mali—confirmed the deaths,
adding that two fighters blew
themselves up while a third
was killed before he was able
to detonate his explosives.
GATIA is the commonlyused name for the pro-government Imghad and Allies
Tuareg Self-Defence Group.
Tabankort is part of a large
swathe of desert which is
the cradle of a Tuareg separatist movement that wants
independence for the homeland it calls “Azawad”, and
from which several rebellions
have been launched since the
1960s.
The town, northwest of
the rebel stronghold of Kidal, is controlled by progovernment militias however which have clashed over
the last month with armed
rebels, leading to the deaths
of fighters and civilians.
The UN was forced to
withdraw a plan to create a
“temporary security zone”
in Tabankort after a huge
protest in the northern city
of Gao by pro-government
youths who said it would
undermine loyalist armed
groups fighting the rebels.
Three people were killed
Tuesday on a second day of
demonstrations against the
UN military mission.
Witnesses described a
huge crowd of angry youths
throwing stones and attempting to storm the MINUSMA headquarters in
Gao to protest the UN taking control of a troubled area
north of the city.
MINUSMA initially denied it was behind the deaths
but later said it would investigate to establish its role in
the violence.
The agreement between
MINUSMA and three rebel
groups—the High Council
for the Unity of Azawad, the
National Movement for the
Liberation of Azawad and
an anti-government wing
of the Arab Movement of
Azawad—would have placed
Tabankort under exclusive
control of UN troops.
MINUSMA
helicopters
destroyed a rebel vehicle
near Tabankort in “selfdefence” on January 20 following what it described
as “direct fire with heavy
weapons” on its peacekeepers.
Rebel groups said the action violated UN neutrality, adding that seven militants had been killed and 20
wounded.
The strikes sparked demonstrations hostile to MINUSMA in Kidal.
Algeria and the UN, which
are leading mediation talks
between the government
and rebels, said the violence
in Tabankort threatened to
jeopardise the peace process.
“GATIA fighters,
accompanied by suicide
bombers, attacked
a rebel Tuareg and
anti-government Arab
position in the night from
Tuesday to Wednesday
near the town of
Tabankort. There were a
dozen deaths in total”
Mali gained independence
from France in 1960 but ethnic divisions run deep and
the west African nation has
been riven by conflict for
much of the last half-century.
Islamists seized control
of the north in 2012 on the
back of an uprising by Tuareg separatists and imposed
strict Sharia law and punishments, before being ousted
10 months later by a French
military intervention.
MINUSMA took over security duties from African
troops in July 2013, with a
mission to ensure stability in
the battle-scarred nation.
A 12,600-strong force,
made up largely of Africans,
replaced the AFISMA military mission, which has been
supporting the French intervention.
The mission played a key
role in presidential polls
which saw Ibrahim Boubacar
Keita rise to power in August
2013.
On top of the conflict between pro-and anti-government armed groups, Islamist
extremists continue to carry
out raids and attacks and
French troops are still on patrol.
Largest Ebola unit dismantled as outbreak retreats
AFP
Monrovia
A
potent symbol of the nightmare
enveloping west Africa at the
height of the Ebola outbreak,
the ELWA-3 treatment centre is being
dismantled and incinerated bit by bit as
the region emerges from catastrophe.
The largest Ebola unit ever built
opened in the Liberian capital Monrovia with 120 beds on August 17 but was
immediately overwhelmed, with staff
forced to turn patients away at its gates,
despite more than doubling its capacity.
Five months later to the day it registered no patients at all for the first time,
and staff this week marked a drastic
retreat of an epidemic which has killed
thousands by dismantling and burning
the first tent put up at the clinic.
“The number of cases has decreased
significantly—we are down to five confirmed cases in Liberia,” said Duncan
Bell, the field coordinator in Liberia
for Medecins san Frontieres (MSF), the
medical aid charity at the forefront of
treating victims of the outbreak.
“In line with this development we
think it was appropriate to reduce the
treatment centre. Today we have 60
beds and at the end of February we
hope to go down to 30 beds. This does
not mean that we are closing ELWA-3
-- we are just reducing the capacity.”
“We still have the capacity to scale
up to 120 beds within 24 hours if the
need arises,” he added, as staff carried
wooden planks and canvas to a large fire
nearby.
The worst outbreak of the virus in
history has seen Liberia and its neighbours Guinea and Sierra Leone register
almost 9,000 deaths in a year.
Soon after it opened, staff at ELWA-3
were struggling to screen new arrivals,
care for admitted patients or safely remove dead bodies and transport them
to the crematorium.
By the end of the year the centre had
taken in 1,826 patients, 1,225 of whom
tested positive for Ebola and 498 of
whom survived.
But Liberia and its neighbours Sierra
Leone and Guinea have reported huge
progress on stemming the spread of
Ebola since the summer, when the joint
tally was several hundred new infections a week.
Liberian commerce minister Axel
Addy told reporters in Geneva on Monday that 12 of Liberia’s 15 counties had
reported no new cases, adding: “We’ve
made a tremendous leap.”
Supporters of Liberian President Ellen
Johnson Sirleaf wait for her to emerge
from the national legislature building
in Monrovia, Liberia.
He said the crisis had cost Liberia
$93mn in lost revenue, with the key
mining sector coming “to a grinding
halt”.
Bell said the downsizing of ELWA3’s capacity went hand in hand with a
reduction in workers on the ground,
noting that MSF staff had performed an
“incredible job”.
MSF said in its latest crisis update
on Monday it was treating just two patients in ELWA-3, a huge tented field
clinic put up on the grounds of a missionary hospital.
Those were among just over 50 patients at MSF’s eight Ebola units across
Guinea, Liberia and Sierra Leone.
The charity’s busiest Ebola manage-
ment centre is currently the Prince of
Wales centre in Freetown, with 30 patients as of January 24.
Children trickled back to school last
week in Guinea, where the Ebola epidemic broke out in December 2013 and
teaching is due to resume in neighbouring Liberia next week.
Classrooms in both countries have
been provided with health kits containing chlorine, thermometers and soap,
while teams will monitor students to
detect possible infections.
Mali, which along with Senegal and
Nigeria had a minor Ebola scare, was
able last week to declare itself Ebolafree after 42 days without any new cases. Senegal and Nigeria had previously
already done so.
“This decline is an opportunity to
focus efforts on addressing the serious weaknesses that remain in the response,” said Brice de la Vingne, MSF
Director of Operations.
“We are on the right track, but reaching zero cases will be difficult unless
significant improvements are made in
alerting new cases and tracing those
who have been in contact with them.”
He warned that just a single new case
could be enough “to reignite an outbreak”.
“Until everyone who has come into
contact with Ebola has been identified,
we cannot rest easy,” he said.
The African Union plans to launch
an Ebola fund and disease control centre, officials in Ethiopian capital Addis
Ababa said on Wednesday, as aid agency Oxfam warned leaders needed to
keep their promises to boost healthcare
systems on the continent.
Oxfam called for a “massive postEbola Marshall Plan”, referring to the
United States aid package to rebuild
Europe after World War II.
The African Union plans to launch an
Ebola fund and disease control centre,
officials said yesterday, as aid agency
Oxfam warned leaders needed to keep
their promises to boost healthcare systems on the continent.
Oxfam called for a “massive postEbola Marshall Plan”, referring to the
United States aid package to rebuild
Europe after World War II.
“This disaster might have been
avoided if African governments had
made free public health care and spent
more on their health systems, under the
commitment they made 14 years ago in
the Abuja Declaration,” Oxfam said in a
statement.
“It’s clear that Africa’s existing architecture for early disease detection,
response and control is wholly inad-
equate,” the aid agency added.
AU Commissioner for social affairs
Mustapha Sidiki Kaloko said an African
Centre for Disease Control and Prevention would be set up by mid-2015.
“It is a reality, it is going to happen,” Kaloko said, with the first phase
concentrating on setting up “an early
warning system” for the detection of
epidemics. “We should be ready the
next time. We shouldn’t be caught unprepared.”
However, its exact location remains
undecided.
“We will start with a coordination
centre within the AU and then set up
up to eight regional centres,” Kaloko
added.
The AU Ebola Solidarity fund will be
launched on Friday during a summit
meeting for leaders of the 54-member
bloc, which has already sent hundreds
of health workers as part of its mission
to tackle the outbreak in west Africa.
In November, the AU, African Development Bank and regional business
leaders set up a crisis fund to help areas
hit by the Ebola outbreak, with some
$28mn pledged. “It is time for Africa to
mobilise its own resources in support
of its development and take charge of
its own destiny,” AU chief Nkosazana
Dlamini-Zuma said.
Gulf Times
Thursday, January 29, 2015
15
AMERICAS
Koch brothers launch 2016 ‘electoral arms race’: Democrats
Reuters
Washington
D
emocrats acknowledged
on Tuesday that it will
be difficult, and likely
impossible, to match the nearly
$900mn that the conservative
billionaire Koch brothers said
their political network will spend
during the 2016 campaign cycle.
The
eye-popping
figure
emerged on Monday as donors
met at a Koch-organised winter
retreat near Palm Springs, California. It underscored Charles
and David Koch’s commitment
to push for smaller-government
policies via a web of advocacy organisations.
“It’s a staggering amount of
money and it’s probably just the
beginning,” said Democratic
strategist Bill Burton. “The truth
is Democrats will never match
what Republicans can put into
these races.”
Republicans in 2016 will seek
to win the White House after
Democratic President Barack
Obama’s two terms and try to
keep control of the US Congress
after winning the Senate in 2014.
“Democrats say they can’t
match it but we saw Barack
Obama do pretty well with large
donors. I think Hillary Clinton
will too,” said David Yepsen, director of the Paul Simon Public
Policy Institute at Southern Illinois University.
Obama’s successful 2012 reelection campaign cost $1bn.
The eventual Republican and
Democratic presidential nominees - widely expected to include
former Secretary of State Clinton
- will likely raise that much or
more in 2016.
Even so, the ability of Koch-
backed groups to spend $889mn
raised from several hundred wellheeled donors puts the brothers’
influence on par with the national political parties themselves.
“It’s almost as if these folks are
creating their own third political
party,” said former Ohio Governor Ted Strickland, a Democrat.
Strickland is now president of
the Center for American Progress
Action Fund, a progressive advocacy organisation.
During the 2012 presidential
election cycle, the Republican
National Committee and committees devoted to Senate and
House candidates collectively
raised about $682mn, compared
to $646mn raised by Democratic
groups, according to government
data compiled by the Center for
Responsive Politics.
Democrats will be hard pressed
to find wealthy donors with
pockets deep enough to match
the Koch-coordinated effort. The
figure announced on Monday
dwarfs, for example, the $74mn
spent by California billionaire
and green activist Tom Steyer on
the 2014 congressional elections.
Steyer has not announced his
2016 plans.
Bobby Whithorne, spokesman
for Steyer’s NextGen Climate
organisation, said “spending
around a billion dollars to make
sure that the few continue to disproportionately benefit at the expense of the many is simply good
economics for them,” referring to
the Kochs.
The Democracy Alliance, a
network of wealthy individuals that has tried to counter past
Koch efforts said it expected contributions by donors to exceed all
previous contribution records,
which it does not disclose.
But whether progressive do-
nors are willing to match the
Kochs is the “wrong question”
given that “we are working harder than ever to end the electoral
arms race so that we can preserve
a democracy that is not bought
by a handful of rich people and
Corps,” Democracy Alliance
President Gara LaMarche said.
Campaign finance experts said
the $889mn will allow the Koch
network to assume the role of a
de facto political party. But there
are major differences in the way
it will be able to raise and spend
more money than political parties.
US attorney
general pick
vows reset
with Congress
Snow covers roofs, streets and the Charles River following a winter blizzard in Boston, yesterday. A powerful blizzard struck Boston and
surrounding New England on Tuesday, leaving some 4.5mn people grappling with as much as three feet of snow and coastal flooding.
Flooding leaves mess in
oceanfront Massachusetts
Reuters
Marshfield
O
cean Street in the waterfront Massachusetts
town of Marshfield
was littered with lobster traps,
downed wires and chunks of
houses on Wednesday, after
a massive blizzard hammered
New England.
Notably absent was much
of the 2ft (30cm) of snow that
blanketed much of the Boston area, since for much of the
storm, Ocean Street was under
water because of flooding from a
breached sea wall. About a dozen homes were badly damaged.
“This area sees flooding regularly, but we haven’t seen damage like this since the blizzard
of ‘78,” town planner Greg Guimond said as he surveyed the
wreckage. “The problem was
the sustained wave action; the
houses can’t handle it.”
Millions across Massachusetts, Connecticut, Rhode Is-
land and New York were digging out on Wednesday from
the storm, which dumped up to
3ft (90cm) of snow in places,
though it largely bypassed New
York City.
Schools remained closed in
Boston and most of its suburbs
for a second straight day but life
was otherwise returning to normal with the city’s transit system and airport resuming service and a travel ban lifted.
But the recovery in the oceanfacing section of Marshfield was
far from seamless on Wednesday, with many homes without
power and coated in ice. Residents who rode out the storm
said they had relied on fireplaces
to keep warm.
Further up the coast, Governor Charlie Baker met with officials in Scituate, which also reported flood damage and where
roads were blocked by a mix of
snow and water-borne debris
that had blocked access to some
homes without power.
Baker said he would order ad-
ditional state heavy equipment
into the region to help with
cleanup.
“There is so much snow and
other activity associated down
here with that storm that their
resources and their assets are
pretty much flat out,” Baker told
reporters in Scituate.
Tim Mannix, whose Marshfield house was pounded by
waves after the seawall failed,
watched a front-end loader
clear debris away from the front
of the building. His face was
badly bruised and marked by a
long line of stitches above his
nose after waves knocked a sliding glass door on him.
“Thankfully it was a fastmoving storm, just one tide,”
the 58-year-old fisherman said.
“Imagine what it would have
been like had it stayed around.”
As he surveyed the damage in
Marshfield while walking his dog,
67-year-old Donny Boormeester
said the storm was the worst he
had experienced since moving to
the town in 1969.
“Every year, the storms get
worse and worse,” the retired
produce buyer said. “The water
gets closer to the houses.”
He said the streets near his
home flooded twice a year in
recent years, an estimate his
neighbors agreed with.
“It used to be a novelty,”
Boormeester said.
Increased flooding is a problem up and down the New England coastline that has been
exacerbated by rising sea levels,
said Cameron Wake, director of
the University of New Hampshire Climate Change Research
Center.
“Places that used to not flood
are getting flooded now and the
reason is not because we didn’t
have hurricanes or Noreasters in
the past,” Wake said. “The reason is because sea level has risen
and so for any given storm surge
we’ve added an extra foot of sea
on top of that. It doesn’t make a
big difference until we see a big
storm and we see systems fail
that haven’t failed in the past.”
Obama’s nominee to serve
as US attorney general
defended her independence
against Republicans eager
to take aim at the president’s
immigration policy
Reuters
Washington
L
oretta Lynch, President
Barack Obama’s pick for
attorney general, yesterday sought to make a clean break
from the testy relationship her
predecessor had with Congress,
while supporting the legality of
Obama’s controversial actions on
immigration.
Lynch, a career prosecutor
known for her diplomatic skills,
struck a delicate balance during
her confirmation hearing, telling
the Senate Judiciary Committee,
“I look forward to fostering a new
and improved relationship.”
Her willingness to listen to Republican concerns was generally
well received by the senators and
marked a departure in style from
the current attorney general, Eric
Holder, an unapologetic liberal
voice and one of Obama’s closest
allies.
Still, she defended the administration’s legal justification for
Obama’s November immigration
order, which eased the threat of
deportation for some 5mn undocumented immigrants.
“I don’t see any reason to
doubt the reasonableness of
those views,” Lynch said.
Lynch, nominated in November, has stirred little controversy
in her 16 years with the US Attorney’s office in Brooklyn and is expected to win confirmation with
W
omen whose bodies
contained high levels of
certain chemicals found
in plastics and cosmetics experienced menopause two to four years
earlier than women with lower
amounts in their systems, US researchers said yesterday.
While the study in the journal
PLOS ONE did not prove that the
chemical exposures caused earlier menopause, study authors said
the associations they uncovered
merit further research.
“Chemicals linked to earlier
menopause may lead to an early
decline in ovarian function, and
our results suggest we as a society
should be concerned,” said senior
author Amber Cooper, an assistant professor of obstetrics and
gynaecology at the Washington
University School of Medicine.
The findings were based on a
nationally representative sample of 1,442 menopausal women, whose average age was 61.
None of the women were taking estrogen-replacement therapies, nor had they undergone
surgery to remove their ovaries.
Researchers examined the
women’s blood and urine for
signs of 111 chemicals that are
suspected of interfering with
the natural production and distribution of hormones in the
body, the study said.
They found 15 chemicals that
were significantly associated
with earlier menopause and declines in ovarian function.
They included nine polychlorinated biphenyls (PCBs),
three pesticides, two phthalates
-- which are typically found in
plastics, common household
items, pharmaceuticals, lotions,
perfumes, makeup, nail polish,
liquid soap and hair spray - and
a toxic chemical known as a
furan “that warrant closer evaluation,” the study said.
Ovarian function is important because without it, women
are infertile and may be at risk
for earlier development of heart
disease, osteoporosis and other
health problems.
“Many of these chemical exposures are beyond our control
because they are in the soil, water and air,” Cooper said.
“But we can educate ourselves
about our day-to-day chemical exposures and become more
aware of the plastics and other
household products we use.”
She recommended people use
glass or paper containers when
microwaving food, and minimise
their exposure to harmful chemicals in the cosmetics and personal
care products they choose.
The study was funded by
the US National Institutes of
Health.
some bipartisan support.
Republican Senator Chuck
Grassley, who chairs the committee, said the hearing, which
was split into morning and afternoon sessions, will determine
if Lynch “has what it takes to fix
the Obama Department of Justice,” which Grassley said has become too politicised.
He also took aim at Obama’s
immigration executive action.
“Not only is this action contrary to our laws, it’s a dangerous
abuse of executive authority,” he
said, while telling Lynch her obligation would be to defend the
Constitution, not Obama’s policies.
Democrats
quickly
shot
back, referring to conservatives including talk show host
Bill O’Reilly who have praised
One in five US kids
rely on food stamps
Plastic chemicals linked
to earlier menopause
AFP
Miami
Loretta Lynch listens during her
confirmation hearing before the
Senate Judiciary Committee
yesterday in Washington, DC.
the nominee. New York Senator
Chuck Schumer, who introduced
Lynch, said, “The president’s
immigration policies are not
seeking confirmation today. Loretta Lynch is.”
Lynch defended the programme as a lawful effort by immigration agents to seek guidance from the president on the
most effective way to prioritise
which undocumented individuals to deport.
She offered similar defences
of Justice Department efforts to
go after states that have strict,
allegedly discriminatory, voter
ID laws, and to limit marijuana
prosecutions in states that have
legalised the drug.
She drew on her background in
law enforcement to say she would
still exercise her own judgment
on a case-by-case basis, and not
be held back in prosecuting individual undocumented immigrants, even those protected by
the immigration action.
“As a prosecutor, I always
want the responsibility to still
take some sort of action against
those who may not be in my
initial category as the most serious threat,” Lynch said before
a packed hearing room that included Lynch’s family and redjacket-clad members of her Delta
Sigma Theta sorority, which she
belonged to at Harvard.
Lynch, 55, would be the first
black woman to lead the department. She comes to the post amid
tensions between black communities and law enforcement after
grand juries did not indict two
white police officers who killed
unarmed black men in separate
incidents in Ferguson, Missouri
and New York City.
Reuters
Washington
Bart the cat, recovering from a broken jaw and facial injuries. Bart
is on the mend after clawing his way back from the dead, surfacing
five days after he was hit by a car and buried for dead.
Cat claws his way back from the dead
A cat in Florida is on the mend
after clawing his way back from
the dead, surfacing five days
after he was hit by a car and
buried for dead, according to the
Humane Society of Tampa Bay.
Bart the cat is recovering from
a broken jaw and facial injuries,
said the agency, which posted
on Twitter images of his successful surgery on Tuesday. One of
his eyes was wounded so badly
it had to be removed.
The Humane Society is calling
him a “miracle cat,” while Bart’s
ordeal earned him the nickname
“zombie cat” on social media.
Bart’s seemingly lifeless body
was buried after he was hit by
a car earlier this month, local
media said. Five days later, he
showed up alive in a neighbour’s
yard, according to a blog post by
the Humane Society.
He was brought to the agency
by his owner, who could not
afford medical treatment for the
injured cat at other veterinary
clinics.
“We have seen many amazing
cases at our full-service veterinary clinic, but this situation
may take the cake!” the Humane
Society said on its website.
T
he number of children in
the US relying on food
stamps for a meal spiked
to 16mn last year, according federal data, signaling a lopsided
economic recovery in which lower income families are still lagging behind.
The roughly one in five children who received food stamps
in 2014 surpassed pre-recession
levels, when one in eight or 9mn
children were on food stamps,
according to the US Census survey of American families released
yesterday
Republicans in Congress
have sought to cut back on
the Supplemental Nutritional
Assistance Program or food
stamp programme as part of
a larger plan to balance the
budget.
Early last year lawmakers proposed $40bn in cuts from the
program over 10 years. The final
farm bill signed into law trimmed
$8.6bn from the programme,
eliminating benefits for about
850,000 people, according to
estimates by anti-hunger advocates.
Other findings of the survey
show a rapidly changing America
in which more children are being
raised in single-parent homes
and more young people are delaying marriage.
Of the 73.7mn children under
18 in the US, 27% were living in
single parent homes last year,
tripling the 9% in 1960.
The number of marriages
also dwindled last year with
less than half of households in
America made up of married
couples, compared to threequarters in 1940, the survey
found.
The median age for people
first getting married in 2014 was
29 for men and 27 for women up
from 24 and 21 respectively in
1947.
16
Gulf Times
Thursday, January 29, 2015
ASEAN
Getting ready for Chinese Lunar New Year celebrations
Hopes fade of
finding more jet
crash victims
AFP
Jakarta
H
Grace Chee, 4, poses for photographs in front of Chinese New Year decorations in one of Kuala Lumpur’s largest shopping malls yesterday. The 2015 Chinese Lunar New Year
welcomes the year of the Goat and will be celebrated on February 19.
Thai red shirt leader
gets two-year jail term
The court found Jatuporn
Prompan, chairman of the
United Front for Democracy
Against Dictatorship (UDD),
or red shirt group,
guilty of insulting former
prime minister Abhisit
Vejjajiva in two speeches
Reuters
Bangkok
A
Thai court yesterday
handed a two-year jail
term to a leader of the
“red shirt” opposition movement for defaming a former
prime minister, a move the group
says is proof of the junta’s ambi-
Truck laden with
cats seized en route
to restaurants
Police in Hanoi have seized a
truck carrying over a tonne of
cats smuggled from China to sell
to restaurants in northern Vietnam, authorities said yesterday.
“After receiving a tip, we searched
the truck and discovered the
cats inside,” Cao Van Loc,
deputy chief of police in Dong
Da District, said. “The owner, also
the driver, said he bought the
cats at the border area of Quang
Ninh province,” Loc said. “All of
cats were from China.”Photos
in An Ninh Thu Do newspaper
showed the cats crammed into
wooden crates, with some legs
and tails poking out. Loc said the
cats will be destroyed and the
owner will be fined around $350
for transporting goods without
the correct documents. Cat
meat is considered a delicacy,
particularly in northern Vietnam,
where it is called “little tiger” and
is considered good luck.
ACCIDENT
Military helicopter
crash kills four in
southern Vietnam
Four Vietnamese military personnel were killed when an air force
helicopter crashed during an
exercise yesterday, the army said,
in the second such accident in
seven months. The US-made UH-1
helicopter went down in a suburb
of Ho Chi Minh City and all those
on board were killed, said Lieutenant-General Vo Van Tuan, deputy
chief of the staff of the army. “We
are investigating the cause of the
crash,” Tuan told Reuters, adding
that no civilians were affected.
tion to crush its opponents.
Thailand’s Criminal Court
found Jatuporn Prompan, chairman of the United Front for
Democracy Against Dictatorship (UDD), or red shirt group,
guilty of insulting former prime
minister Abhisit Vejjajiva in two
speeches in October 2009.
The ruling comes just days
after ousted prime minister
Yingluck Shinawatra, whose
government was backed by the
red shirts before a May coup by
the military, was banned from
politics for five years.
Yingluck was removed from
office for abuse of power in May,
days before the coup, which
the army said was necessary to
end months of unrest. The ban
is the latest twist in 10 years of
turbulent politics that have pitted Yingluck and her brother
Thaksin, himself a former prime
minister, against the royalistmilitary establishment that sees
the Shinawatras as a threat and
reviles their populist policies.
Red shirt leader Jatuporn has
been in legal hot water before
and has faced a number of court
cases, including for slander.
“On October 11 the accused
went on stage at Democracy
Monument and spoke about
Abhisit, and on October 17, he
spoke again outside Government
House,” a court official said.
“After reviewing the evi-
Junta chief Prayut
‘upset’ by US criticism
AFP
Bangkok
T
hailand’s junta chief said
yesterday he was “upset” by comments from
a senior US diplomat during
a recent visit criticising the
military regime, as Washington’s top envoy in Bangkok was
summoned for a meeting with
Thai officials.
On Monday, US Assistant Secretary of State for East
Asian and Pacific Affairs Daniel
Russel urged Thailand’s generals to implement a “more inclusive political process” after
meeting ousted former premier
Yingluck Shinawatra.
He added that moves against
Yingluck since the military
takeover — which have included a retroactive impeachment
by the country’s rubber-stamp
parliament, and corruption
charges — could be perceived
as being “politically driven”.
But the visit and Russel’s decision to meet Yingluck have
hit a raw nerve with Thailand’s
junta rulers, who took over in a
May coup strongly condemned
by Washington.
“I have instructed the foreign ministry to convey the
message that we are upset over
the comments and that they
(the US) have not understood
how we work,” junta chief and
premier Prayut Chan-O-Cha
told reporters yesterday.
His comments were echoed by Deputy Foreign Min-
ister Don Pramudwinai who
said Russel had “wounded the
hearts of many Thai people”,
adding that he had “invited”
the current head of Washington’s embassy in Bangkok —
Charges d’Affaires W Patrick
Murphy — to talk about the
visit.
The military’s takeover of
Thailand — which has been accompanied by martial law, a ban
on political protests and severe
curtailments on free expression
— has strained Washington’s relationship with its longtime ally.
The US suspended $4.7mn in
security-related aid to Thailand,
roughly half of its annual assistance to the kingdom, following
the coup. Last week Yingluck
was impeached by a juntastacked parliament, meaning an
automatic five-year ban from
politics, and prosecutors announced corruption charges
that could see her jailed for 10
years.
During a speech at Chulalongkorn University in Bangkok, Russel said “the perception
of fairness is important” while
stressing the US was not taking
sides in Thai politics.
“When an elected leader is
deposed, impeached by the authorities that implemented the
coup, and then targeted with
criminal charges while basic
democratic processes and institutions are interrupted, the
international community is left
with the impression that these
steps could be politically driven,”
he said.
dence the court found his words
against Abhisit to be untrue.”
Jatuporn was granted bail
of 200,000 baht ($6,000). His
lawyer, Wiyat Chatmontree,
said he would appeal the ruling.
The sentence was emblematic of the junta’s ambition to
root out Thaksin’s influence,
said a red shirt member, who
asked not to be identified for
fear of repercussions.
“The junta’s supporters want
it to eradicate the Shinawatra
clan from politics and that is
exactly what they are doing.”
Thailand has been bitterly
split between supporters of the
Shinawatras in the agricultural
north and northeast and the
Bangkok-based royalist-military establishment, which sees
Thaksin, a telecoms billionaire
turned politician, as a threat.
Abhisit, head of the conservative, pro-establishment
Democrat Party, faced popular opposition in 2010, after
tens of thousands of red shirt
activists demanding fresh
elections took to the streets of
the Thai capital, accusing his
government of being elitist
and army-backed.
His former deputy, Suthep
Thaugsuban, led street protests in 2013 and 2014, backed
by Bangkok’s middle classes,
that helped lead to Yingluck’s
ouster.
opes faded yesterday
of finding 92 victims
still missing from an
AirAsia plane crash as Indonesian search and rescue authorities said the remaining bodies
could have been swept away or
lost on the seabed.
Flight QZ8501 went down
in the Java Sea on December
28 in stormy weather with 162
people on board, during what
was supposed to be a short trip
from the Indonesian city of
Surabaya to Singapore.
So far just 70 bodies have
been recovered. Authorities
had hoped that the majority of
the passengers and crew would
be in the plane’s main section,
but after several days searching the fuselage, they said no
more bodies could be located.
“They could be on the seabed, or have been swept away
by waves and currents,” S B
Supriyadi, a search and rescue
agency official who has been coordinating the hunt, said.
The Indonesian military,
which has provided the bulk of
personnel and equipment for
the operation, withdrew from
the search Tuesday due to the
failure to find more victims, and
after several failed attempts to
lift the damaged fuselage.
The country’s civilian search
and rescue agency has said it
will push on with the hunt for at
least a week, with three aircraft,
several ships, and divers.
While Supriyadi suggested
it would be tough to find any
more victims, the agency’s chief
Bambang Soelistyo nevertheless said he was “optimistic”.
Soelistyo said search and rescue teams were being given two
days’ break after weeks searching in inhospitable conditions,
but will push on with the hunt
afterwards.
Some divers were suffering
from decompression sickness,
which typically affects those
who have ascended too quickly
from great depth, or have not
taken long enough breaks between dives, the agency said.
Dariyanto, whose sister and
husband were on the flight and
remain missing, said he hoped
that rescuers would continue
the search for as long as possible.
“We are thankful to the rescuers but as families, we still
want our loved ones to be
found,” the man, who like many
Indonesians goes by one name,
said.
“We understand that not
everyone can be retrieved, but
we are willing to accept their
bodies, in whatever condition.”
The agency said that the main
aim of the operation is to find
more bodies, and not to lift the
plane’s fuselage, which has split
in two.
However, analysts have reacted with surprise to the suggestion that the rest of the
wreckage might be left on the
seabed, as retrieving it would
help with the investigation into
the crash.
Malaysia to release MH370 report in March
Malaysia will release an
interim report on its investigation into Flight MH370 on
March 7, a day before the
first anniversary of the jet’s
mysterious disappearance, an
official said yesterday.
However, deputy transport
minister Abdul Aziz Kaprawi
declined comment on whether the report would contain
any revelations on the fate of
the Malaysia Airlines jet.
“It is a report by the investigation team. It will be a lengthy
report of a few hundred
pages,” he said.
The report is being compiled
and released by the Department of Civil Aviation and is
required by the International
Civil Aviation Organisation
(ICAO) one year after air accidents, he said.
MH370 vanished on March
8 of last year with 239 passengers and crew aboard en
route from Kuala Lumpur to
Beijing in what remains one
of history’s great aviation
mysteries.
Malaysian authorities say
satellite data indicates the
plane inexplicably detoured
to the remote southern Indian
Ocean, and “deliberate” onboard action is suspected.
But no firm evidence has
turned up yet despite an
ongoing Australian-led search
of the supposed crash region
-- the most expensive search
and rescue operation in
history.
Asean ministers express concern
over Chinese actions at sea
AFP
Kota Kinabalu
S
outheast Asian foreign
ministers yesterday expressed concern at Chinese land reclamation in the
disputed South China Sea, as
the Philippines urged them to
stand up to Beijing.
The statement came after
Manila warned fellow members
of the Association of Southeast Asian Nations (Asean) at
a ministers’ retreat in Malaysia
that the 10-country grouping’s
credibility was at stake unless it
dealt strongly with the “critical
issue in our own backyard”.
“The retreat shared the concern raised by some foreign
ministers on land reclamation
in the South China Sea,” said
a statement by the gathering’s
host, Malaysian Foreign Minister Anifah Aman, following the
two-day meeting.
It mentioned no specific
countries.
Wary of upsetting relations
with its giant neighbour to the
north, Asean has for years responded cautiously to China’s
increasingly assertive moves
to stake its claims in the South
China Sea.
China claims almost all of
the sea, a position that conflicts
with Asean members Brunei,
Malaysia, the Philippines and
Vietnam, as well as with nonmember Taiwan.
Beijing has sparked growing
Officials pose for a group photo during the Asean Foreign Ministers retreat in Kota Kinabalu, Malaysia yesterday.
alarm around the region with
actions viewed as aggressive,
raising fears of conflict.
Philippine foreign minister Albert del Rosario said last
week Beijing was trying to construct islands around isolated
reefs in the Spratly islands,
which could hold fortified positions or even airstrips.
“The massive reclamation
issue presents a strategic policy
dilemma for Asean,” he said in a
statement Wednesday.
“Our inaction on this would
undermine (Asean unity), since
we are unable to address in a
unified and collective way such
a critical issue in our own back-
yard.” He also said the international community must “say to
China that what it is doing is
wrong — that it must stop its
reclamation activities at once”.
The foreign ministers met
in the city of Kota Kinabalu on
Borneo island —on the shores
of the disputed waterway — in
the first of several diplomatic
gatherings this year in Malaysia, which holds the Asean chair
for 2015.
Anifah’s statement called
on Asean to step up efforts to
achieve implementation of a
code of conduct in the South
China Sea aimed at preventing
conflict.
After years of pressure,
China agreed in 2013 to talks
with Asean on the issue.
But many analysts question
Beijing’s commitment and
say it is likely stalling while it
shores up its maritime claims.
China’s foreign ministry
dismissed Manila’s accusations in the land reclamation
row, saying last week that
“small countries cannot make
trouble out of nothing”.
Del Rosario has said the
Chinese reclamation would
impair freedom of navigation
in the waters, through which
much of the world’s trade
passes.
Gulf Times
Thursday, January 29, 2015
17
AUSTRALASIA/EAST ASIA
Australia’s
detention of
asylum group
ruled legal
AFP
Sydney
A
ustralia’s detention of 157
asylum-seekers at sea for
weeks in June was legal,
the nation’s High Court found
yesterday in a win for the government’s hardline immigration
stance.
In a tight 4-3 decision, the
court ruled the government was
entitled to hold the group of
Tamils from Sri Lanka on a customs ship with a view to return
them to India - where they had
set out from.
The ruling means they are unable to seek compensation for
their month-long detention.
“I am pleased with the result,” Immigration Minister
Peter Dutton told reporters in
Canberra. “It has vindicated the
government’s position and we
welcome the result.”
The case was mounted by an
asylum-seeker, only named as
CPCF. Lawyers for the man,
who is being kept with his family
and the other Tamils in a detention camp on the Pacific island
of Nauru, said the outcome was
disappointing.
But they said the case helped
to shed light on the government’s treatment of the asylum-
seekers at sea. “What’s been important through the case is that
it brought this vital scrutiny,
breaking the secrecy around our
client’s detention,” the executive
director of the Human Rights
Law Centre, Hugh de Kretser,
told reporters.
“It was important that these
serious and untested questions under Australian law were
brought to the High Court.”
The High Court decision cannot be appealed.
De Kretser said his client was
“sad and disappointed by the
decision” but his focus was on
his claim for refugee status in
Nauru.
“At least one of the 157 on
board has had his refugee claim
determined and has been found
to be a refugee and has been released into the community,” he
said.
“My understanding is the
others are waiting on their decisions to be processed.”
Lawyers had claimed their
clients were falsely imprisoned
on the ship. Their case centred
around whether Canberra had
the power to remove asylumseekers from its contiguous
zone, just outside territorial
waters, and send them to other
countries.
The decision came as the
Australian government hailed
its “Operation Sovereign Borders” policy of turning back
boats carrying asylum-seekers
trying to enter the country, as
a success.
“Only one vessel has arrived
in Australia in 2014, and all of
those aboard that vessel were
transferred to Nauru,” operation commander Lieutenant
General Angus Campbell said
yesterday.
There had been “15 returns
of various forms during the
course of Operation Sovereign Borders”, including boats
turned back to Indonesia and
Sri Lanka, instances where
asylum-seekers were taken
back by foreign countries, and
rescues at sea.
Since July 2013 the Australian government has sent asylum-seekers arriving on boats
to Papua New Guinea’s Manus
Island and Nauru.
They are denied resettlement
in Australia even if they are genuine refugees.
The government has said the
policy is necessary to stop the
flow of so-called “boat people”
arriving in Australia.
They had previously been arriving almost daily in often unsafe wooden fishing vessels, with
hundreds drowning en route.
Wooing customers
Vendors wait to sell caged birds at a market selling pet birds in Juancheng, Shandong province, China yesterday.
The Interview fallout is no
barrier to nuke talks: Seoul
AFP
Tokyo
A
senior South Korean envoy said yesterday that
the door was open to restarting talks with Pyongyang
on its nuclear programme, despite US sanctions following
a cyberattack linked to North
Korea satire The Interview.
At a meeting in Tokyo yesterday, Seoul’s top nuclear envoy
Hwang Joon-Kook met with his
US and Japanese counterparts
in a bid to re-open stalled talks
on North Korea’s nuclear development.
Six-country talks on aidfor-denuclearisation involving
Russia, China, North Korea,
South Korea, the US and Japan
have been at a standstill since
2009.
“The door of dialogue remains open with respect to the
North Korean nuclear issue,”
Hwang told reporters.
“The US took measures to
pressure the North over the
cyberattacks on Sony Pictures
Entertainment, but it should
not be interpreted as the US
closing the door to dialogue.”
Washington’s North Korea
envoy Sung Kim said the three
nations agreed to keep urging
Pyongyang to commit to denuclearisation.
“The three countries are
united in our common pursuit
of denuclearisation of North
Korea,” he said.
The trio also agreed that
Pyongyang’s recent offer to
suspend nuclear tests in exchange for a temporary freeze
on US-South Korea joint military exercises should be rejected.
“The US-South Korea joint
military exercises are conducted regularly and transparently with the clear nature of
defence,” Hwang said.
“North
Korea’s
nuclear
tests are banned under Security Council resolutions, and
we firmly agreed on the position that we should not discuss
nuclear tests and the military
drills together.”
The meeting yesterday —
which included Japan’s Junichi Ihara, envoy for North
Korean issues — came weeks
after Washington imposed the
financial sanctions on North
Sydney cafe inquest to shed
light on hostages’ death
AFP
Sydney
A
n inquest into the deadly
siege in which an extremist gunman held a cafe
full of people captive in Sydney
opens today, amid expectation it
will officially lift the lid on how
two hostages died.
Details of what happened
when Iranian-born Man Monis
took customers and staff hostage at the Lindt chocolate cafe
in Martin Place on December
15 have not been released, with
survivors advised by the authorities against telling their
stories before enquiries have
ended.
“We had to beg for our lives,
he was going to shoot someone,” one woman says in a promotional clip for a yet-to-air
television interview about the
16-and-a-half hour ordeal.
“I said: ‘Please don’t shoot
me, please please don’t shoot
me,” the woman sobs.
The siege ended with heavily armed police storming the
high-end cafe in the early hours
of the following morning, after
about 10 of the 17 hostages had
managed to escape.
Two hostages died in the
shoot-out — cafe manager Tori
Johnson, 34, and barrister and
mother-of-three Katrina Dawson, 38 —and several more sustained gunshot wounds.
Reports have suggested that
Monis, a 50-year-old selfstyled cleric, shot Johnson as
he tried to wrestle his weapon
from him but that Dawson was
struck by police bullets, possibly a ricochet when police
stormed the cafe.
The siege triggered a wave
of emotion in Sydney, with
thousands flocking to Martin Place to leave flowers at an
impromptu memorial and sign
condolence books.
It also raised questions about
how Monis, who had a long
criminal history, was let out on
bail given that charges against
him included sexual offences
and abetting the murder of his
ex-wife.
In the hours after the drama,
Prime Minister Tony Abbott
ordered an urgent enquiry into
why the deranged gunman was
not under surveillance and how
he had obtained citizenship.
The month before the siege
Monis had posted a message in
Arabic on his website pledging allegiance to “the Caliph
of the Muslims”, which some
interpreted as the Islamic State
group.
The inquest will not hear
from witnesses on the opening day, but Jeremy Gormly, the
counsel assisting the coroner,
will outline a provisional list
of issues the investigation and
inquest will look at and some
details from enquiries to date.
Korea and several senior government officials.
Washington
blamed
Pyongyang for a crippling cyberattack on Sony Pictures
that saw the release of a trove
of embarrassing e-mails, film
scripts and other internal communications, including information about salaries and employee health records.
The hackers — a group calling itself Guardians of Peace
— issued threats against the
US-based company over the
planned Christmas release of
The Interview”, which depicts
a fictional CIA plot to assassinate North Korean leader Kim
Jong-un.
Pyongyang
has
repeatedly denied involvement but
strongly condemned the film.
US concerned about press
freedom in China: envoy
AFP
Beijing
W
ashington is concerned about press
freedom in China,
a senior US diplomat said in
Beijing yesterday as some US
news organisations face repercussions over their reporting of
issues deemed sensitive by the
ruling Communist Party.
“There is no doubt that we
are very concerned about the
freedom of the press, about
the ability for journalists to be
here, to stay here, to have status here,” said Undersecretary
of State for Political Affairs
Wendy Sherman, on the first
stop of a three-country visit to
Asia.
“All of those are very critical
issues,” she added.
Washington has criticised
China’s treatment of foreign
correspondents after new reporters for The New York Times
and Bloomberg were not given
residence visas — apparent retaliation for investigative stories on the wealth amassed by
leaders’ families.
Some members of Congress
have backed a draft measure
calling for reciprocal denials
of US visas for Chinese media
workers and executives. Opinion on such a move remains divided in Washington.
China’s ruling party is highly
sensitive about critical coverage of its leaders, while also
keeping a tight grip on information in the country.
Beijing says it respects freedom of the press and that all
journalists in the country must
abide by Chinese law.
Film premiere
In November the US and
China announced a deal to
extend the validity of visitor
visas — but not journalists’ —
for each other’s citizens to as
much as 10 years.
At a joint press conference with US President Barack
Obama, Chinese President
Xi Jinping suggested that US
news organisations had themselves to blame for not receiving visas. “In Chinese, we have
a saying: ‘The party which has
created the problem should be
the one to help resolve it’. So
perhaps we should look into
the problem to see where the
cause lies,” Xi said.
Sherman, who is also leading
the US team in its nuclear negotiations with Iran, spoke to
reporters in Beijing on the first
leg of an Asia trip that will also
take her to Seoul and Tokyo.
Beijing names
new boss
for ministry
Reuters
Beijing
C
US actor Johnny Depp walks for his photo call in Tokyo yesterday. Depp attended the Japan
premiere of his latest action comedy movie Mortdecai which will be screened in Japan from
February 6.
hina has appointed Chen
Jining, the president of
Beijing’s prestigious Tsinghua University, as party chief of
its environment ministry, since
the controversial current incumbent is retiring, the ministry said
on its website yesterday.
Chen, 51, an environmental
specialist and a member of the
National Environmental Advisory
Commission with no previous
government experience, replaces environment minister Zhou
Shengxian.
Zhou’s decade as China’s top
environment official has coincided with the massive degradation
of the nation’s environment, with
surging industrial and energy
output putting huge pressure on
air, rivers and soil.
18
Gulf Times
Thursday, January 29, 2015
BRITAIN
Gallery strike
PJ Harvey
to record
at historic
Somerset
House
Reuters
London
A
The National Gallery in Trafalgar Square in central London. Workers at Britain’s National Gallery in London are to stage a five-day strike, their trade union announced
yesterday over the privatisation of visitor services.
JFK’s childhood home
has £300mn price tag
The valuation is a reflection of London
prices
Evening Standard
London
A
London mansion where John F
Kennedy once lived is set to become
the capital’s most expensive home,
with an estimated price tag approaching
£300mn.
The stucco-fronted property on
Prince’s Gate in Knightsbridge, which was
once the US ambassador’s residence, is
being turned into a huge home by developers.
It quietly changed hands for around
£70mn last week and is believed to have
been snapped up by a billionaire Saudi
family.
Plans lodged with Westminster council
show that the row of Georgian townhouses
opposite Hyde Park has planning permission to be turned into 41,000sq ft of opulent living space, providing “absolute security and privacy”.
This could be configured as two homes
of 30,000sq ft and 11,000sq ft, or one vast
mega-mansion about 30 times the size of a
typical three-bedroom house.
Agents said the rich history of the houses, and their location a few hundred yards
from One Hyde Park, could mean they
fetch up to £7,000 a square foot.
If they were turned into a single home
that would give them a price tag of
£287mn, twice the current record confirmed in London, a £140mn penthouse at
One Hyde Park.
Becky Fatemi, managing director of
West End estate agent Rokstone, said:
“The mansion is Grade II-listed, and could
be configured as either one mega-mansion, or as two residences.
The property directly overlooks Hyde
Park and it has the benefit of private gardens and terraces. The main staircase and
the state rooms on the ground and first
rt rocker PJ Harvey
hopes that recording
inside a glassed room
at Somerset House in central
London will help draw on the
likes of Elizabeth I, who lived
on its grounds before she was
queen, and Oliver Cromwell,
who lay in state there.
A select group of visitors
lucky enough to get tickets will watch Harvey, one of
England’s most original pop
artists, chipping away at the
coal face of music creation.
Polly Jean Harvey, who
has balanced eclecticism and
mainstream popularity in a
career spanning two decades,
is recording her ninth album
at the arts and cultural centre on the River Thames in a
celebration of the process of
making art rather than the
product.
“I want it to operate as if
we’re an exhibition in an art
gallery,” Harvey said in an interview for a programme accompanying the installation,
tickets for which sold out in
less than half an hour.
During a month-long run,
“Recording in Progress” will
let some 2,000 people watch
Harvey and a cast of musicians, producers and engineers through one-way glass
in 45-minute visits.
There are no guarantees what spectators will
see. Emilie Vansuypeene, a
35-year-old musician from
Lille, France, was “prepared to
see people arguing for 50 min-
utes over one note”.
“I didn’t know what to expect,” Vansuypeene said.
Through windows on two
sides of a bright white room,
a few dozen people watched
Harvey, dressed head-to-toe
in black, seated amidst a forest
of sharp-angled microphone
stands and a sea of cables
snaking across the floor.
She played saxophone while
others played guitar, drums,
saxophone and bass clarinet
over a track that seemed not
to belong to any of the songs
whose lyrics were hung on the
wall.
“It was an interesting passage,” Vansuypeene said afterwards. “It wasn’t just a coffee break.”
In the programme interview—with Michael Morris, co-director of Artangel,
which commissioned the
show—Harvey says she likes
Somerset House’s riverside
location and history.
Before hosting a range of
government offices, the original Somerset House, built in
the 16th century, was a residence of the British throne.
“All that history will fuel
me and help tap into a different level of consciousness,”
said Harvey, who also paints,
draws, sculpts and writes poetry.
Artangel’s Morris said the
exhibition had exceeded all
expectations in terms of spectators’ reactions.
“I had a hunch that it would
be a layered and complex experience,” Morris said. “But
I think it’s worked out even
richer than imagined.”
Ambassador Kennedy with his wife and children, from left, Kathleen, Edward, Patricia, Jean and Bobby outside their home in 1938.
floor are extremely grand, and plans allow
for the creation of a vast leisure complex
on the lower ground floor.
“This is prime Knightsbridge, so if the
property was refurbished and converted
into a single super-prime mansion it could
be worth anything from £200mn up to
£290mn which, at the upper valuation,
would make it London’s most expensive
private home.”
The houses were sold to developers
Viridis Properties 2 for £36mn in 2010.
The company is registered in the British
Virgin Islands but owned by Saudi-based
Viridis Real Estate, the property investment arm of the Jameel family.
Plans submitted to Westminster council
show a huge double basement which in-
cludes a leisure complex and underground
car park, works estimated to cost £30mn.
The lower ground floor will have a
swimming pool, children’s pool, Jacuzzi,
kitchen, wine cellar, staff quarters and a
gym with two changing rooms. Beneath it
will be underground parking for four cars.
The ground floor will include a formal
room and dining room, an ambassadorial
study and a huge lobby. Cars will be driven
into a separate entrance before being lowered to the basement via a large lift. The first
floor has two large rooms for entertaining
and a super-sized reception room stretches
across the entire front of the property.
Upstairs are seven bedroom suites, another kitchen, a playroom and guest sitting-room. All floors can be reached by
stairs or the lift. The property was built
in the late 1840s to designs by the architect Harvey Lonsdale Elmes. It was the
residence of Junius Spencer Morgan, the
founder of the Morgan investment banking dynasty, and his son, John Pierpont
Morgan, who offered the house to the US
government.
John F Kennedy lived there in the late
Thirties when his father Joseph was the
ambassador to London and it was sold to
the Independent Television Authority in
1955 and has been offices since.
More recently, it was the headquarters
of the Royal College of General Practitioners. It was evacuated and taken over by the
SAS during the Iranian embassy siege next
door at 16 Prince’s Gate in April 1980.
PJ Harvey is applauded as she prepares to receive the 2011
Mercury Prize in September 2011.
Therapist dies in crash while cycling to patient
Evening Standard
London
A
cyclist who got engaged in
the summer has been killed
in a crash with a lorry - just
months after her sister died in childbirth.
Physiotherapist Stephanie Turner,
29, died two miles from her home
when she was hit by an HGV in Seven
Sisters Road, Stamford Hill, on her
way to patient appointment on Tuesday last week.
It comes after her sister Claire
Widdicombe, a 38-year-old primary
school teacher, died while giving
birth last September.
Turner, an enthusiastic runner,
climber and tri-athlete who completed the Edinburgh marathon last
year, became engaged to fellow athletics enthusiast Ian Pibworth in June
and the couple were planning to return to his native Scotland.
She was a keen and experienced
cyclist, who relished the opportunity
her job gave her of cycling between
clinics to visit patients.
In a recent post on Facebook, she
wrote: “Today my job has required
me to cycle through Regents Park,
Hyde Park, Baker Street and Oxford
Circus. Best job ever!”
Schoolfriend Natalie Sharpe told
the Standard: “It’s so tragic. Steph’s
sister passed away in September. Her
poor family have had so much heartache.”
Turner, who grew up in Paignton,
Devon, and graduated from Teeside
University, had lived in the capital for
several years and shared a house in
Tottenham Hale with her fiance and a
number of friends.
Sharpe said: “Steph and Ian had
plans together for the future and were
going to move but she delayed it because she loved living in London so
much and riding from clinic to clinic.
She was a real outdoors person, she
did marathons, she swam, she cycled,
she climbed mountains.
“When I found out last week I
couldn’t believe it. It’s devastating.
We had big plans for this year as a
whole group of our school friends are
turning 30. She referred to us as the
‘Devon girls’, she had so many friends
from all over the place. We love her to
bits. Everyone just loved her.
“She would walk into a room and
without even trying everyone would
be smiling. She could brighten up
a room. She was naturally kind and
funny. We would have crazy nights
out and in. We are going to miss her,
she was very precious.”
Many of her friends have paid tribute on Facebook, leaving a series of
messages beneath a picture of Miss
Turner posted by her fiance.
Rosa Parsons wrote: “Such a beautiful, warm and funny lady. So unfair.”
Jo Van Santen said: “Life can be so
cruel. This world has lost an absolute
angel.”
And Michelle Coles wrote: “There
really aren’t enough words to describe
what an amazing person Stephanie
Turner was.
“She brightened up everyone’s
lives who knew her and was like one
of the sisters I never had. We love you
mate and you will never ever be forgotten.”
Turner’s sister died at Torbay hospital in Devon on September 20. Her
baby son Jay was stillborn.
The driver of the lorry stopped at
the scene on Tuesday and was arrested on suspicion of causing death
by dangerous driving. He has been
bailed to return, pending further enquiries.
A vigil organised by campaign
group Stop Killing Cyclists is taking
place this evening at the junction of
Amhurst Park and Seven Sisters Road
where Miss Turner died.
zA motorcyclist has been killed
in a crash with a Ford Focus in east
London. Police are appealing for
witnesses following the incident in
Upper Rainham Road, with the junction of Sowrey Avenue, Romford, at
8.30pm on Monday night.
The rider, believed to be aged 24,
was pronounced dead at the scene
by London Ambulance Service paramedics.
The other vehicle, a blue five-door
Ford Focus flipped over in the road.
There were no reports of any other
injuries and no arrests have been
made. A post-mortem examination
has been scheduled. Police await
formal identification and next of kin
have been informed.
Stephanie Turner with her fiancé Ian Pibworth.
19
Gulf Times
Thursday, January 29, 2015
BRITAIN
Pensioner’s
jail term for
car crash is
reduced
Evening Standard
London
A
Anti-fracking protesters demonstrate outside the County Hall in Preston, Britain, yesterday. Lancashire Council are deciding on two planning applications that will set a precedent
for fracking plans in Britain. The decision has been deferred for eight weeks.
UK debates fracking
as opposition mounts
The Tories see fracking as
critical to energy plans
AFP
London
B
ritain is planning to begin
shale gas extraction despite growing popular opposition, with local officials in
northern England stuck in a dilemma on whether to authorise
the first fracking operations.
Lancashire County Council
had been due to decide this week
on two extraction sites planned
by shale company Cuadrilla but
yesterday it postponed the ruling
as a crowd of protesters rallied
outside.
Scotland made its own opposition clear yesterday, with
the regional government there
announcing a temporary moratorium on any fracking, which
involves blasting water, sand and
chemicals underground.
“Once Fracked No Going
Back!” and “Don’t Poison Our
Land” read signs held up by some
of the 250 protesters at a rally in
Preston in Lancashire, which in-
cluded a robot-like figure made
out of pipeline.
Helen Rimmer, a campaigner
for Friends of the Earth, said that
the delay “created more uncertainty for communities whose
health and environment are at
risk”.
Cuadrilla is planning to start
operations by the end of the
year and has promised extensive
“mitigation measures” to minimise the impact on local residents.
Prime minister David Cameron has made shale gas an economic priority to diversify energy
sources away from a reliance on
dwindling North Sea oil reserves,
looking to its boom in the United
States as a model.
But there is trenchant opposition from environmentalists
and many local residents across
Britain in the areas identified as
potential reserves, mainly concentrated in northern England.
The government made one
concession on Monday, agreeing
to ban fracking in national parks
outright.
But an attempt by a group
of British lawmakers to pass a
moratorium was overwhelmingly voted down by parliament in
London since both the main parties—Cameron’s Conservatives
and the Labour opposition—support it.
“We are prepared to push the
boundaries of scientific endeavour, including in controversial
areas, because Britain has always
been a pioneer,” British finance
minister George Osborne said
earlier.
“The country that was the first
to extract oil and gas from deep
under the sea should not turn its
back on new sources of energy
like shale gas because it’s all too
difficult,” he said.
Scientists at the British Geological Survey estimate that shale
gas reserves are “abundant” but
there are few estimates on exactly how much there is.
There have been several exploratory drillings in recent years
but opponents say the drive for
shale gas could be undermined
by the drop in energy prices.
They also see more immediate
risks, like earthquakes.
Cuadrilla had to interrupt a
previous drilling test in 2011 in
northeast England after tremors
and was allowed to resume only
once stronger checks were in
place.
Still, companies have said they
are keen to invest.
Ineos, a chemical group based
in Switzerland, last year said it
planned to spend $1bn on shale
gas in Britain in order to become
the biggest player on the market.
But while the government
looks to the economic revival
that shale gas has brought in
the United States, Lancashire is
deeply divided.
Local supporters say it will
bring much-needed investment
and jobs to a former industrial
hub, while opponents warn of the
disruption it could cause.
Critics won a key victory earlier this month when planners
published
recommendations
arguing against the projects,
stressing the impact of noise.
Some 240 local businesses and
trade unions have signed a petition against fracking.
“I believe tourism and agriculture would be seriously affected.
Would you take your family on
holiday to a gas field?” asked
Karen Ditchfield, one of the signatories and a local business
owner.
The citizen advocacy network Avaaz said its own petition
against fracking in Lancashire
had garnered more than 46,000
signatures, accusing Osborne of
wanting to “transform Lancashire into Texas”.
Scotland has imposed a moratorium on shale gas planning
permits and is launching an assessment of the impact of shale
gas on public health, Scottish
energy minister Fergus Ewing
told the Scottish Parliament yesterday.
“We are imposing a moratorium on granting planning consents,” the minister, a member
of the Scottish National Party,
said.
There are currently no shale
gas projects underway in Scotland, but a moratorium means no
Scottish shale gas plans will be
approved until it is lifted.
Scotland is estimated to have
around 80tn cubic metres of
shale gas resources, enough to
cover all of Britain’s gas needs for
more than 30 years.
pensioner who killed a
mother after confusing
the pedals in his car has
been granted a reduction in his
18-month prison sentence.
Geoffrey Lederman, 85, of
Hamilton Terrace, St John’s
Wood, mounted the pavement
on the wrong side of the road
and knocked down 33-yearold Desreen Brooks.
The court of appeal has cut
his jail term to 12 months after
hearing the pensioner’s mental and physical health has seriously declined.
Lord Justice Treacy, Mrs
justice Swift and Mrs Justice
Thirlwall rejected arguments
that there had been flaws in
the sentencing process, but
they responded to a plea on
behalf of Lederman that the
court “exercise its mercy”.
The court heard Lederman was driving home from
a bridge tournament in his
1982 Mercedes 380 SL when
he mounted the pavement on
the wrong side of the road and
crashed in to nine pedestrians
near West Hampstead train
station in north-west London
on the evening of November
10 2012.
Ben Brooks-Dutton described how he managed to
steer the pushchair carrying
his two-year-old son away
from the oncoming car as it
scraped past.
But his wife was knocked
down in the 54mph crash
and died instantly. The family, from East Dulwich, were
returning to the train station
Reuters
London
P
athologists examining the
body of ex-KGB spy Alexander Litvinenko, poisoned with a rare radioactive isotope London in 2006, carried out
the world’s most dangerous-ever
post-mortem, an inquiry into his
killing heard yesterday.
They also said they would
probably never have discovered
the way he had been killed had
unusual tests not been carried
out just before his death.
British police say Kremlin critic Litvinenko died three weeks
after drinking tea poisoned with
polonium-210 at a plush London
hotel which they believe was administered by two Russians Andrei Lugovoy and Dmitri Kovtun.
At its opening at London’s high
court on Tuesday, the inquiry
was told Litvinenko had told police Russian president Vladimir
Putin had personally ordered his
death.
His widow’s lawyer said this
was to partly to cover up Kremlin links to the mafia which the
former spy was going to help
Spanish intelligence to expose.
Marina Litvinenko, widow of Alexander Litvinenko, and her solicitor Elena Tsirlina leave court yesterday.
Russia and the two suspects
have repeatedly rejected any involvement in the death.
Litvinenko’s health deteriorated rapidly after his meeting with
Lugovoy and Kovtun on Nov. 1,
2006 and he died three weeks
later having suffered multiple organ failure.
The inquiry was told “an inspired hunch” by police led them
to bring in atomic scientists who
found Litvinenko tested positive
for alpha radiation poisoning two
days before he died.
Lead pathologist Nat Cary said
without that, the cause of death
would not have been discovered
in a post-mortem, adding he
was unaware of any other case
of someone being poisoned with
alpha radiation in Britain, and
probably the world.
Co-pathologist Benjamin
Swift told the inquiry: “It
was probably the most dangerous post-mortem that’s
ever been conducted.”
Those involved in the examination had needed to
wear two white protective
suits with specialised hoods
fed with filtered air.
The controversy generated by Litvinenko’s killing
plunged Anglo-Russian relations to a post-Cold War
low.
As ties improved though,
Britain rejected holding an
inquiry in 2013, but then, as
the Ukraine crisis unfolded,
the government changed its
mind last July although it
said the political Ukrainian
situation was not a factor.
Ben Emmerson, the lawyer
for Litvinenko’s widow Marina, said the police’s main
suspect Lugovoy had given
an interview to Russian radio
on Tuesday denouncing the
inquiry as a “judicial farce”.
“When the situation in
Ukraine had kicked off and
the UK’s geographical interests had likely begun to
change, they decided to dust
off the mothballs and commence these proceedings,”
Lugovoy said according to
Emmerson.
after visiting friends.
Amy Werner, a 23-yearold American student, was
thrown into the air by the car
and suffered brain damage and
lost her sight in one eye following the crash.
The trial judge said he recognised Lederman told doctors that it was he and not the
two young women who should
have suffered and died.
At the appeal, Christopher
Donnellan QC said Lederman
had been diagnosed with heart
and vascular problems and fitted with a pacemaker.
Asking for the jail sentence
to be suspended, Donnellan
said: “A compassionate submission is the only submission
I can make.
“When taking account of
the declining - and fast declining - mental and physical
health of an elderly appellant
who has had to go to prison
and serve a period in prison,
the court should exercise
mercy today, as has occasionally been reflected in other
cases, by suspending his sentence.”
Juslice Thirlwall said the
court was not persuaded that
there should be a suspension,
and the appropriate order was
a reduction of the sentence to
12 months.
More MoD
assets to be
privatised:
minister
Reuters
London
Litvinenko post-mortem ‘was
most dangerous ever’ conducted
The final photograph of
Desreen Brooks with her son.
B
ritain will privatise
three more defence assets before May’s general election, Defence Secretary Michael Fallon said on
Wednesday, warning the job
of finding savings was “far
from over”.
Since coming into power
in 2010, the government has
generated nearly
380mn
from selling off militaryowned property, including
old barracks, polo fields and a
disused underground station
in London.
Britain has cut defence
spending by around 8% in
real terms over the last four
years to help reduce its record
budget deficit, shrinking the
size of the armed forces by
around one sixth and axing
Harrier jets and Nimrod reconnaissance planes.
It has also brought in private partners in several areas, including to help run its
property estate and repair
army vehicles.
“There is more to come,”
Fallon, whose Conservatives
are up for re-election on May
7, said in a speech in London.
“Three more privatisations
before the end of this parliament.”
Fallon said the government
was planning to bring in commercial partners to run a military port at Marchwood in
southern England, and to run
and operate a pipeline storage
system, with preferred bidders to be announced before
the end of March.
A partner to reform the
military’s logistics and supplies organisation will also be
announced next month, he
said.
The coming election is
set to be one of the closestfought in a generation, with
the governing Conservatives neck-and-neck with
the opposition Labour party
in many polls. Whoever is in
government post-May is due
to hold a review of defence
and security spending later
this year.
The Ministry of Defence
(MoD) owns around 1% of
Britain’s landmass, Fallon
said, with more than 4,000
separate sites and £120bn of
assets.
“With continuing demands on our resources, with
the cost of manpower and
equipment rising, with competition from emerging nations increasing, efficiency in
defence cannot be a one-off,”
Fallon said.
“Every year we should be
looking to take out unnecessary cost, to improve productivity, and to sweat our assets
so we can better support the
frontline.”
Fallon questioned whether
the MoD needed all its 57
sites within the M25 motorway surrounding London
and said the department was
looking at whether it could
share its central London
headquarters.
“How many cars and vehicles do we really need?,” he
said. “And does MoD really
need to own 15 golf courses?”
20
Gulf Times
Thursday, January 29, 2015
EUROPE
CRACKDOWN
POPE AIRED ISSUE
THROWN OUT
TROUBLED SERIES
WAGE WAR
‘Historic’ police sting hits
mafia in northern Italy
10 Catholic priests charged
in Spain child abuse case
Court rejects bid to shut
Russian rights group
Arianespace set to resume
satnav launches in March
Truckers block traffic at
two Total refineries
Italian authorities yesterday claimed “historic”
success against the ‘Ndrangheta mafia, after arrest
warrants were issued for 163 suspected mobsters
who had infiltrated the construction, transport
and waste collection sectors in northern Italy.
Investigations focused on Reggio Emilia, a town
150km south-east of Milan, in the Emilia-Romagna
region. Arrests were also made in Lombardy
and Calabria, the southern region from where
the ‘Ndrangheta originates. “It is an operation
which I do not hesitate in calling historic, without
precedent,” said chief anti-mafia prosecutor
Franco Roberti. Police were still looking for at least
seven of those ordered under arrest.
A Spanish judge has charged 10 Catholic priests
with committing or abetting sexual abuse
of a teenage altar boy, court papers showed
yesterday, in a case Pope Francis helped bring to
light. Judge Antonio Moreno formally accused
10 priests and two lay people in the southern
city of Granada of sexual abuse or complicity
in the abuse of the boy from 2004 to 2007.
Pope Francis has said he ordered a church
investigation after the unidentified man wrote
telling him of how he had been molested. The
Pontiff said he heard of the case “with great pain,
very great pain, but the truth is the truth and we
should not hide it.”
Russia’s Supreme Court yesterday dismissed
the government’s bid to shut down a leading
human rights group, a rare victory for harried
civil society in the country. Judge Alla Nazarova
rejected a lawsuit from Russia’s justice ministry
to dissolve the Memorial group - which rose to
prominence exposing Soviet-era repression that claimed the group had violated its charter.
The justice ministry had argued that Memorial’s
charter did not correspond to the work it does
and that it had committed a range of other
infractions, such as misreporting financing from
abroad. The ministry said in a statement later
that Memorial has rectified all the violations.
Europe will resume launching satellites in March
for its troubled Galileo navigation system,
using Russia’s Soyuz rocket, Arianespace said
yesterday. “We are ready for a launch on March
26,” Arianespace chairman Stephane Israel told
AFP in Paris after the European Commission in
Brussels gave its go-ahead. Galileo, Europe’s 7bn
euro ($8bn) rival to America’s GPS, has suffered
a number of setbacks. Last August, two satellites
were sent astray by a mislaunch blamed on frozen
rocket fuel pipes. The European Space Agency
“wants additional time to test the two Galileo
satellites before resuming deployment” of the
constellation, Arianespace had told AFP in October.
Truck drivers striking over a wage dispute blocked
traffic around Total’s Grandpuits and Donges
refineries yesterday morning, preventing oil
product deliveries, the French oil major said. The
101,000 barrel per day Grandpuits refinery is the
Total’s smallest, but it supplies the Paris region’s
petrol stations, while the 219,000-bpd Donges
refinery is near Nantes on the Atlantic coast.
“There is no impact at the pump for our clients,”
a spokesman for Total told Reuters. “We are
reorganising our supply scheme for our stations as
a consequence.” Two oil depots, the DPCO site near
Dunkirk and another in Valenciennes in the north
were also blocked by the drivers, he said.
EU presses on
with green law
after U-turn by
Commission
By Barbara Lewis, Reuters
Brussels
E
uropean Union president Latvia
will push ahead with a law to
clamp down on air pollution after the European Commission’s plan to
withdraw the proposals was rejected
by many lawmakers.
Air pollution from traffic and industry is responsible for about 400,000
premature deaths per year in the European Union, according to Commission
data.
Still, the EU executive had proposed
to scrap draft proposals on cleaning up
the air, which it said did not fit in with
its broader plans for smarter, streamlined legislation.
An angry backlash from some member states and many in the European
Parliament forced the issue back onto
the agenda.
“We are glad the Commission has
decided to keep the NEC (National
Emissions Ceiling) directive on the
table,” said Alda Ozola, a deputy state
secretary in the environment ministry
of Latvia, which holds the rotating EU
presidency until end-June.
It was a complex issue and a deal
between the parliament and member states would take time but Latvia
would advance the talks as far as possible, Ozola told a debate at the assembly.
Marianne Wenning, a director in
the environmental department of
the Commission, said the row about
whether to go ahead with national limits on various pollutants was now “behind us”.
The executive was working on
bringing the EU closer to standards
laid out by the World Health Organization by 2030, she said.
Many member states break existing
EU air quality rules that fall short of
pollution levels the WHO says are safe.
Some industrial sectors say they are
struggling to be competitive and that
EU regulation risks driving them out
of Europe.
Any EU law that entails national
limits has also stirred up Eurosceptic
sentiments, especially in Britain where
it has become an election issue in the
run-up to polls in May.
But advocates say costs are offset by
reduced public health bills and a drop
in sick day numbers.
Elliot Treharne, air quality man-
Carnival cast!
Paris mayor wants to ban
polluting trucks, buses
The mayor of Paris said she wants
to ban polluting buses and trucks in
the French capital from July to fight
pollution in one of the world’s most
visited cities. Paris has a relatively high
population density and tourists are
often surprised by the traffic levels in
and around its historic sights.
The city also experiences periodic
pollution spikes, forcing authorities
to impose temporary speed limits on
motorists, make public transport free
and even ban vehicles from running on
certain days.
“I want to ban the most polluting
buses and heavy goods vehicles from
July 1, 2015,” Anne Hidalgo told Le
Monde daily in an interview published
yesterday.
“And on July 1, 2016... this ban will
extend to all of the most polluting
vehicles,” she said, adding that the area
where the ban would be enacted was
still under negotiation.
“I would like this ban to first apply
to the whole of Paris, apart from the peripherique (ring road around the city)
and the woods of Paris,” she said.
Hidalgo is due next month to formally submit her anti-pollution plan for
the city of more than 2mn people.
She has already announced she
wants to ban all diesel vehicles by
2020, limit cars in the city centre, and
extend zones where the speed limit is
fixed at 30kph.
She also wants to double the
amount of cycle lanes as part of a
100mn-euro ($113mn) bike development plan, and roll out a system of
electric-powered bikes along the same
lines as the city’s popular velib temporary bike hire network.
Hidalgo said if her plan to ban polluting trucks and buses came to fruition,
she planned to incentivise businesses
to buy cleaner vehicles through financial aid and prime rate loans in a bid to
avoid affecting deliveries in the city.
ager from the Greater London Authority, said London was working towards
bringing London’s air into compliance with existing EU standards, but it
could not succeed alone as air pollutants cross borders.
“Without it (EU-wide law) the burden will be left to cities who are already
doing as much as possible,” he said.
Members of German carnival societies attend a reception at the Chancellery in Berlin yesterday.
Moscow mulls censure of
E Germany ‘annexation’
AFP
Moscow
O
ver 25 years after the Berlin
Wall’s fall, Russian lawmakers
are considering a proposal to
condemn West Germany’s 1990 “annexation” of East Germany as Moscow’s answer to Western denunciation
of its seizure of Crimea.
Sergei Naryshkin, speaker of Russian parliament’s lower house, yesterday ordered legislators to consider an
appeal from a Communist Party deputy to denounce the reunification of
Germany as an illegal land grab of East
Germany by its western neighbour.
The collapse of Socialist rule in East
War-wear!
Germany - officially known as the
German Democratic Republic (GDR) heralded the end of the Cold War, and
was met with jubilation in the West.
But the Communist lawmaker
sponsoring the proposal argued the
absorption of the GDR - a Soviet Union satellite since the end of WWII
- into a unified Germany in October
1990 was illegal.
“Unlike Crimea, a referendum was
not conducted in the German Democratic Republic,” Nikolai Ivanov was
quoted saying before the Russian parliament’s lower house, the State Duma.
The desire by some to revise Moscow’s position on one of the late twentieth century’s most momentous events
is born of anger over international con-
But the notion that West Germany had illegally annexed its eastern
neighbour was met with scorn by one
key figure from that period.
Former Soviet leader Mikhail Gorbachev - who is praised in the West for
his decision not to use force to quell
uprisings in Eastern Europe, and to let
the Berlin Wall crumble - called the
contention “nonsense.”
Speaking to the Interfax news agency, Gorbachev said: “What annexation? One cannot even talk about it.”
“What referendum could one talk
about when one hundred thousandstrong demonstrations were taking
place in both countries - both in East
and West Germany - with one slogan
only: ‘We are one people!’”
French artist takes stand in L’Oreal heiress trial
AFP
Paris
A
A performer, wearing an armour while promoting Slovenia, checks a Japanese armour during
opening day yesterday at Madrid’s International Tourism Trade Fair.
demnation of Russia’s own seizure of
Ukraine’s Crimean peninsula in March
- and an apparent yearning to match it.
“We understand that Western hypocrisy knows no limits,” Ivanov told AFP,
singling out German Chancellor Angela
Merkel for particular criticism over her
tough stance on the Ukraine crisis.
Russian President Vladimir Putin,
himself a KGB officer in East Germany
when the Berlin Wall fell, spearheaded
the annexation of Crimea against a
backdrop of patriotic fervour last year.
Ivanov said he could not predict the
future of his initiative - which will be
examined by parliament’s foreign affairs committee - but stated he was
sure he had the “moral support” of fellow lawmakers.
French multimillionaire
artist was the first to take
the stand yesterday in the
trial of 10 people accused of exploiting L’Oreal heiress Liliane
Bettencourt, just days after one
defendant tried to kill himself.
Francois-Marie
Banier, a
67-year-old photographer and
author who is godfather to Johnny Depp’s daughter, is suspected
of having taken advantage of the
frail, elderly and hugely wealthy
Bettencourt, who showered him
with gifts such as paintings by
Picasso and Matisse.
He is one of 10 members of
the 92-year-old’s entourage to
stand trial over what has become
an explosive drama involving a
bitter mother-daughter feud, a
butler’s betrayal and unscrupulous friends that even dragged in
former president Nicolas Sarkozy.
The trial had been due to start
on Monday but was delayed over
several procedural issues, just
as the judge revealed that Alain
Thurin, a former nurse for France’s
richest woman, tried to hang himself in the woods near his house.
A suicide note written by the
64-year-old - who is currently in
a coma - was read out yesterday
to the courtroom in the southwestern city of Bordeaux.
He wrote that he had not
wanted the help of a lawyer and
thought he would be able to explain himself. But “being faced
with all these hotshot lawyers
would be very difficult, especially
without any proof,” he added.
Banier, who was once a close
confidant of Bettencourt, was
the first to take the stand. From
a “conventional” family, he first
made in-roads into the artistic
world aged 22 when he published
his first novel. He became known
in fashion circles, collaborating
with the likes of Pierre Cardin and
Yves Saint Laurent, and rubbed
shoulders with celebrities.
Banier met Bettencourt in 1987,
and the wealthy heiress took him
under her wing, lavishing him with
gifts of paintings, life insurance
funds and millions of euros in cash.
The woman whom Forbes
magazine describes as the
world’s 12th richest person also
made him her sole heir, a move
she would later revoke.
Her daughter Francoise Bettencourt-Meyers filed charges
against Banier in 2007 for exploiting her mother’s growing
mental fragility - which the matriarch staunchly denied.
Banier, who owns at least two
flats in an upmarket part of Paris,
two properties in Marrakesh and
another in southern France, said
he had assets and money “well
before knowing Liliane.”
“She found pleasure in giving
the money,” he said, adding that
Bettencourt was in no way diminished mentally when he knew her.
Two of Banier’s friends - including the mother of singer and
actress Vanessa Paradis - gave
testimonies in court defending
his personality.
Others due take the stand later
include Patrice de Maistre, who
managed Bettencourt’s fortune. He
is accused of getting Bettencourt
to hand over envelopes of cash to
members of the UMP party, such
as his friend, Eric Woerth, a former
minister and campaign treasurer of
Sarkozy’s 2007 presidential bid.
The affair tarnished the latter half of Sarkozy’s presidency,
and when he lost the 2012 election he was placed under formal
investigation for illegal campaign
financing and taking advantage
of Bettencourt.
However the charges against
Sarkozy were dropped in October
2013 due to lack of evidence.
Banier could be jailed for three
years, and his life partner Martin
d’Orgeval is also in the dock.
Bettencourt was declared unfit
to run her own affairs in 2011 after
a medical report showed she had
suffered from “mixed dementia”
and “moderately severe” Alzheimer’s disease since 2006.
Bettencourt’s father Eugene
Schueller founded L’Oreal in
1909, starting with hair dye and
later branching out to form the
world’s largest cosmetics company, famous for the advertising
slogan “Because I’m Worth It.”
Gulf Times
Thursday, January 29, 2015
21
EUROPE
Russia warns of
conflict escalation
in eastern Ukraine
DPA
Moscow/Kiev
R
Greek Prime Minister Alexis Tsipras (centre) gestures next to Deputy Prime Minister Yannis Dragasakis (left) and Interior and Administrative
Reconstruction Minister Nikos Voutsis ahead of the first meeting of the new cabinet in parliament in Athens.
Tsipras pledges
radical changes
Reuters
Athens
L
eftwing Greek Prime Minister Alexis Tsipras yesterday threw down an
open challenge to international
creditors by halting privatisation
plans agreed under the country’s
bailout deal, prompting a third
day of heavy losses on financial
markets.
A swift series of announcements signalled the newly installed government would stand
by its anti-austerity pledges,
setting it on course for a clash
with European partners, led by
Germany, which has said it will
not renegotiate the aid package
needed to help Greece pay its
debts.
Tsipras told the first meeting
of his cabinet members that they
could not afford to disappoint the
voters who gave them a mandate
in Sunday’s election, which his
Syriza party won decisively.
After announcing a halt to the
privatisation of the port of Piraeus on Tuesday, for which China’s Cosco Group and four other
suitors had been shortlisted, the
government said yesterday it
would block the sale of a stake in
the Public Power Corporation of
Greece (PPC).
It also plans to reinstate public
sector employees judged to have
been laid off without proper justification and announced rises
in pension payments for retired
people on low incomes.
Uncertainty over the new government’s relations with the European Union went beyond economic policy.
A day before the EU is expected
to extend sanctions against Russia for six months, it was unclear
if Athens would back its European partners on this move, after dissenting over a joint statement from the bloc on Ukraine on
Tuesday.
Tsipras, who met Russia’s ambassador to Athens on Monday
and the Chinese envoy the next
day, told ministers that the government would not seek “a mutually destructive clash” with
creditors.
But he warned Greece would
not back down from demanding
a renegotiation of debt.
“We are coming in to radically
change the way that policies and
administration are conducted in
this country,” he said.
Financial markets have taken
fright. Greek bank stocks plunged
more than 22% yesterday, taking
their cumulative losses since the
election to 40%.
Newly-appointed
Finance
Minister Yanis Varoufakis, who
meets Jeroen Dijsselbloem, head
of the eurozone finance ministers’ group tomorrow, said negotiations would not be easy but he
expected they would find common ground.
“There won’t be a duel be-
tween Greece and Europe,” he
said, in his first meeting with reporters since taking office.
Varoufakis said he would
meet the finance ministers of
France and Italy - both countries
which have pressed for a change
of course in Europe from rigid
budget orthodoxy - in the coming days.
France has ruled out straight
cancellation of Greece’s debt,
about 80% of which is held by
other eurozone governments and
multinational organisations such
as the IMF.
However, Paris has said it
would be open to talks on making
Greece’s debt burden more sustainable and Tsipras is expected
to meet President Francois Hollande before an EU summit on
February 12.
The response from Germany
was frosty. Economy Minister Sigmar Gabriel said Athens
should have discussed the halt to
privatisations with its partners
before making an announcement.
“Citizens of other euro states
have a right to see that the deals
linked to their acts of solidarity
are upheld,” he said, adding that
it would be the “wrong solution”
for Greece to quit the euro but
that it was up to Athens to decide.
Fears that talks between the
new government and its creditors would break down, with
unforeseeable consequences for
Greece’s future in Europe, fuelled
the third successive day of turmoil on the markets.
Tsipras said the government
would pursue balanced budgets
but would not seek to build up
“unrealistic surpluses” to service
Greece’s massive public debt of
more than 175% of gross domestic product.
Priorities would be helping
the weakest sections of society,
with policies to attack endemic
cronyism and corruption in the
economy, reduce waste and cut
Greece’s record unemployment.
The new government also confirmed it would stop the planned
sale of state assets, in line with its
election pledges.
Shares in PPC — which is 51%
owned by the state and controls almost all of Greece’s retail
electricity market — were down
nearly 13%, while Piraeus Port
stock fell nearly 8%.
“We will halt immediately any
privatisation of PPC,” Energy
Minister Panagiotis Lafazanis
told Greek television a few hours
before officially taking over his
portfolio.
“There will be a new PPC
which will help considerably the
restoration of the country’s productive activities,” he said.
The previous government of
conservative Prime Minister Antonis Samaras passed legislation
last year to spin off part of PPC
to liberalise the energy market
under a privatisation plan agreed
under the EU/IMF bailout.
ussia yesterday accused
Ukrainian forces of attacks against residential
areas in the country’s east and
warned of a further escalation
of the conflict.
“The fighting that was once
again provoked by Kiev leads to
the unavoidable escalation and
undermines international efforts to end the bloodshed,” the
Foreign Ministry said in Moscow.
The pro-Russian separatists said earlier that 16 people
were killed and more than 100
injured by artillery shelling in
the eastern city of Luhansk on
Tuesday.
The Luhansk city council said
on its website that one civilian
was killed and 14 were injured,
but did not say who carried out
the attack.
Ukraine blamed the separatists for the shelling. Military
spokesman Leonid Matyukhin
said the attack was carried out
to discredit the Ukrainian army.
“They never had any other
aims, they are bandits and terrorists,” Matyukhin said on
Ukrainian TV.
Ukraine’s Security Council
spokesman, Andriy Lysenko,
said that three soldiers were
killed and 15 injured in the 24
hours up yesterday. He did not
mention any shelling in Luhansk.
Ukraine accuses Russia of
supporting the separatists
with heavy weapons, volunteer
fighters and regular troops charges that Russia denies.
Fresh efforts for a diplomatic
solution have been fruitless as
fighting surged over the past days.
G
erman anti-Islam movement Pegida yesterday
lost its second leader in a
week when Kathrin Oertel, who
took over after the founder quit
for posing as Hitler, also stepped
down, citing media pressure.
The Dresden-based group announced on its Facebook page
that Oertel and another board
member were resigning. The
37-year-old became Pegida’s national figurehead after founder
Lutz Bachmann resigned a week
ago after news that he was being
investigated.
Pegida said Oertel had quit
“due to the massive hostility,
threats and career disadvantages”, adding: “Even the strongest
of women has to take time out
when at night photographers and
other strange figures are sneaking
around outside her house.”
The group added that its cause
remained “good and just”.
Bachmann announced his resignation last week after the topselling daily Bild carried a frontpage photo of him with a Hitler
moustache and haircut that he
had posted on Facebook.
This, and reports that he had
called refugees “scumbags”,
prompted prosecutors to investigate him for inciting hatred.
The 42-year-old convicted
burglar put Pegida, which stands
for Patriotic Europeans Against
the Islamisation of the West,
onto the political agenda by leading weekly rallies in the eastern
city of Dresden to defend what he
calls “German” values.
Pegida marches and copycat
events in other cities attracted
thousands of people, but they
were vastly outnumbered by tens
of thousands of counter-demonstrators insisting Germany is a
multi-cultural country that welcomes immigrants.
Oertel had told Reuters that
Pegida “will go on” despite the
departure of Bachmann, who
said the Hitler photo was taken as
a joke. In a recent interview with
Reuters, he described himself as
an “impulsive” person.
Y
ou will discover hell on
earth, and will die alone that is the stark message
from the French government in
a new social media campaign
aimed at discouraging would-be
jihadists.
The first video to appear on
www.stop-djihadisme.gouv.fr
features a series of typical prom-
ises made by jihadist recruiters,
followed by an opposing view
from the government - all against
a graphic backdrop of crucifixions, headless corpses and bodies
being thrown into pits.
“They tell you, ‘Join us and
come help the children of Syria,’”
the text reads over images from
wars in the Middle East. “In reality you will be complicit in the
massacre of civilians.”
Others are directed towards
women.
“They tell you: ‘Come start a
family with one of our heroes.’ In
reality you will raise your children in war and terror.”
The website is an attempt by
the French government to counter the sophisticated recruiting
efforts of jihadist groups, that
have helped encourage hundreds
of its citizens to leave for Syria
and Iraq in recent years.
It also features sections such
as “Understanding the terrorist
threat” and “Decrypting jihad-
A Ukrainian serviceman of the Donbass volunteer battalion rides
a swing after a clean-up operation in the Lysychansk district of the
Lugansk region, controlled by pro-Russia separatists.
procure a weapon.
The guide makes no specific
mention of Russia, but Defence
Minister Juozas Olekas said it
was put together in response to
concerns over Moscow’s support
of separatists in Ukraine.
“Since Russia’s aggression
in Ukraine, people have started
wondering what they’re supposed to do if similar things
happen in Lithuania,” Olekas
told AFP.
The guide also urges Lithuanians to hold strikes or at the
very least do a shoddier, slower
job at work in the event that the
country comes under occupation.
Officials have delivered 2,000
copies to secondary schools
T
Oertel … media pressure
ist propaganda”, featuring expert
interviews, historic explainers
and links to more detailed information.
Among the advice to young
people are ways of spotting early
signs of an unhealthy interest in
jihadism: “Watch out for friends
who become more distant and
stop listening to music.”
It remains to be seen whether
a government-sponsored message will carry much weight with
radicals who consider the French
state to be apostate, but those
behind the campaign remain
confident.
“We will broadcast this video
widely on social networks in
order to reach the maximum
number of young people vulnerable to these calls. We hope it
will shock them,” said Christian
Gravel, head of the government’s
communications department.
“And the site offers solutions
and help for young people, their
families and their friends.”
around the nation of 3mn people
and are now preparing a second
edition for universities and public
libraries.
Russia’s takeover of the
Crimean peninsula from Ukraine
and its support for separatists
in the east of the country have
alarmed Lithuania and its fellow
Baltic states Estonia and Latvia.
Olekas said Lithuania was
also engaged in talks with the
US to store American military
hardware including tanks.
Lithuania has urged the EU
to increase sanctions on Russia
after deadly weekend rocket
attacks on the Ukrainian port of
Mariupol, and to label self-proclaimed separatist “republics” as
terrorist organisations.
EU executive ponders
new airline data rules
Reuters
Brussels
You will die alone: France warns would-be jihadists
AFP
Paris
German Chancellor Angela Merkel agreed in a phone
call with US President Barack
Obama that Russia should be
held accountable for supporting the separatists and failing to
comply with the Minsk agreements, the White House said.
Ukrainian President Petro
Poroshenko said that he sent
a letter to Russian President
Vladimir Putin, demanding
that Moscow fulfil the Minsk
accords while asking for the release of Ukrainian pilot Nadiya
Savchenko.
Savchenko, who was captured by separatists last year,
is currently in a Moscow prison
and accused of aiding the killing of two Russian journalists.
According to her lawyer, Mark
Feygin, she has been on a hunger strike for more than 40 days.
Wary of giant neighbour, Lithuania issues war survival guide
Lithuania’s defence ministry
yesterday began distributing
wartime survival manuals to
schools around the country reflecting anxiety in the Baltic state
over events in Ukraine.
The 98-page guide offers practical advice for emergency and
wartime situations from setting
up basement shelters to handling
hostage dramas to evacuating
from war zones.
“If you’re a civilian and you
make that clear, it is unlikely
someone will rush to kill you,”
says the manual, also available
on the ministry website.
“If you fail to evacuate, you
will have to acquire a gun. It will
help protect you from bandits,” it
adds, without specifying how to
Anti-Islam German group loses second leader in a week
Reuters
Berlin
The EU’s 28 leaders said
Tuesday that the bloc’s foreign
ministers should explore new
sanctions at a meeting today.
According to Russian Foreign
Minister Sergei Lavrov, Russia
would stick to the peace accords
reached in Minsk in September.
In an article published yesterday, Lavrov also stressed that
“it is essential that (Ukraine)
retains its neutral status” to
prevent it from further disintegration. The Ukrainian government has said that it wants to
join Nato.
Lavrov warned that slapping
new sanctions against Russia
would aggravate the situation.
“They will not make us forego
what we think is right and just,”
he said in the Serbian journal
Horizons, republished on his
ministry’s website.
he European Commission is reviewing plans on
sharing airline passenger
data to address privacy concerns
while still seeking to improve security following militant attacks
in Paris.
A system for sharing airline
travel data among European Union countries put forward by the
Commission in 2011 - known as
Passenger Name Record (PNR) has been resisted by lawmakers
who argue it infringes privacy
by instituting mass tracking and
surveillance of all travellers.
The Commission, the EU executive, proposes reducing the
period airline passenger data is
held before being stripped of its
identifying elements from 30
days to seven days, according to
the document seen by Reuters.
The data will still be stored and
accessible for five years if needed
for terrorism cases. It will only be
held for four years if needed for
transnational crimes.
Seventeen people were killed
this month in attacks in Paris by
three militants, themselves shot
dead in police actions. The female partner of one of the gunmen was sought time by French
police before it emerged that she
had flown to Turkey, then travelled onwards to Syria.
The Commission also proposed narrowing the types of
crime for which the data can be
accessed - namely “terrorism
and serious transnational crime”
and limiting who can obtain it.
“Creating a vast data dragnet is a total waste of resources,
which would be far better used
to carry out targeted surveillance
of real suspects,” said Jan Philipp
Albrecht of the Greens group in
the European Parliament.
The Commission could adopt
its amended proposal as early as
February 10, the document says,
although that would delay any
adoption until at least the second
half of this year as negotiations
in the parliament and among the
EU’s 28 member states would
have to start from scratch.
Timothy Kirkhope, a Conservative member of the European
Parliament responsible for the
current, stalled proposal has hinted he could present an amended
version of PNR in early February
to meet privacy concerns.
The EU already has airline
passenger data sharing agreements with the US and Canada,
and some countries within the
bloc such as France have put in
place their own passenger record
systems, but there is no EU-wide
system.
22
Gulf Times
Thursday, January 29, 2015
INDIA
ACCIDENT
APPOINTMENT
AVIATION
AWARD
TRAGEDY
Narrow escape for
passengers of bus
Jiji Thompson to be new
Kerala chief secretary
SpiceJet offers discount
on 500,000 seats
Anti-leprosy activist
honoured by Assam
Eight Vidarbha farmers
commit suicide: activist
Over 35 passengers had a narrow escape
when their bus caught fire in Prakasam district
of Andhra Pradesh early yesterday, police
said. The bus was on its way from Chennai
to Hyderabad. It caught fire at Chagallu area
of the district on National Highway 5, about
350km from Hyderabad. Noticing smoke in
the rear end of the bus, the passengers alerted
the driver who immediately stopped the bus.
The passengers rushed out in panic. No one
was injured. Within minutes, flames engulfed
the bus and it was completely gutted. The
passengers, who lost all their belongings,
alleged that fire-fighting personnel reached
late.
Indian Administrative Service official Jiji
Thompson will be the new chief secretary of
Kerala, Chief Minister Oommen Chandy said
yesterday. The 1980-batch Kerala cadre official’s
appointment comes despite former chief
minister V S Achuthanandan asking the handy
government earlier this month to not consider
Thomson for the job as he is an accused in the
controversial palm oil case. But Chandy brushed
aside the suggestion and said the decision had
been taken, and that Thomson would join when
incumbent E K Bharath Bhushan retires at the
end of this month. Thomson early this month
rejoined the state service after a stint as director
of the Sports Authority of India.
Days after the aviation regulator allowed
SpiceJet to open fresh bookings, the cashstrapped budget airline yesterday launched a
discount scheme starting at Rs1,499 for one-way
advance booking on all direct flights. The airline
is offering 500,000 seats through the new
scheme. Bookings have to be made by tomorrow,
and are valid for travel between February 15 and
June 30. The scheme is valid on all direct flights
on SpiceJet’s domestic network. The airline said
that such offers are an integral part of the LCC
(low cost carrier) pricing model. The offers are
meant to sell in advance at attractive prices seats
that would otherwise be expected to go empty,
thereby improving revenues.
A 94-year-old social activist, who dedicated his
life to fighting leprosy in Assam’s Karbi Anglong
district since 1948, was yesterday honoured by the
state government. Gandhian and social activist
Janardan Pathak became the first person to be
conferred with the “Amal Prabha Das Award for
Social Service.” The award was instituted by the
Assam government in 2013 to honour people for
their distinguished service to the society. Pathak
was honoured for his service to the nation while
following the principles of Mahatma Gandhi. He
has worked for fighting leprosy in Karbi Anglong
district (then called the Mikir Hills) since 1948.
Pathak underwent anti-leprosy volunteer training
while studying in Wardha in Gujarat.
At least eight debt-ridden farmers in
Maharashtra’s Vidarbha region committed
suicide in the past four days, including four
yesterday, an activist said. “The bodies of
two farmers were brought early today from
Bodadi and Sonegaon villages of Yavatmal
district. As the autopsy was being carried
out, two more bodies were received at the V
N Government Medical College - all within a
couple of hours,” Vidarbha Jan Andolan Samiti
(VJAS) president Kishore Tiwari said. “We have
no information if anyone committed suicide
on Republic Day (January 26) as it was a
public holiday, and the government was busy
with celebrations,” Tiwari said.
Kolkata
witnesses
10th taxi
strike in
5 months
Row erupts
over govt
advert on
Republic Day
IANS
Kolkata
C
ommuters Kolkata were
greatly inconvenienced
yesterday due to a 24hour strike by taxi drivers against
a fare hike and “police excesses.”
This is the tenth strike by local
taxi drivers since August 2014.
Commuters were stranded and
harried as taxis stayed off the
roads again due to the All India
Trade Union Congress (AITUC)sponsored strike.
The Centre of Indian Trade
Unions (CITU) and the Indian
National Trade Union Congress
(INTUC) also supported the protest.
Across the eastern city, long
queues were seen at auto-rickshaw and cycle-rickshaw stands
while buses plied at full capacity.
Residents in the districts of
Howrah, Hooghly and South and
North 24 Parganas were also affected.
The controversy comes at a
time when there are concerns
about growing religious
intolerance in the country
Agencies
New Delhi
A
The Bengal Taxi
Association (BTA), which
is not participating in the
current agitation, provided
services in key transit
points like the airport and
railway stations
The Bengal Taxi Association
(BTA), which is not participating
in the current agitation, provided
services in key transit points like
the airport and railway stations.
According to Bimal Guha of
BTA, a helpline has been set up
where passengers can get cab
pick-ups from home.
Taxi drivers have pulled out
their vehicles off the city roads on
nine earlier occasions by calling
wildcat strikes or protest walks
as part of their stir against alleged
police excesses.
At the centre of the dispute is
the government decision to increase fine for passenger refusal
from Rs100 to Rs3,000.
The government in August arrested 22 drivers for vandalism as
they damaged taxis which did not
heed their call for strike and continued plying. They were released
on bail after spending four days
in jail. Around 37,000 taxis ply in
the city.
Members of the taxi union participate in a rally in Kolkata yesterday.
government
advertisement for Republic Day
published in newspapers
omitted the words “socialist,
secular” in the image of the Preamble to the Constitution, triggering an uproar and signature
campaigns over social media
platforms.
The alleged faux pas in the advertisement printed on January
26 came to light a day before US
President Barack Obama said at
a public event in New Delhi that
upholding religious freedom was
the responsibility of the government.
“The controversy surrounding
the ad is uncalled for. The photo
of original Preamble was a way of
honouring the founding fathers
of the Constitution,” tweeted
Minister of State for Information
and Broadcasting Rajyavardhan
Rathore.
The Preamble reads: “We, the
people of India, having solemnly
resolved to constitute India into a
sovereign socialist secular democratic republic...”
Prime Minister Narendra Modi
has hailed the Constitution as
the nation’s holy book, but the
two missing words in the official
ad have kicked up a controversy
at a time when there are concerns
about growing religious intolerance in the country.
Congress leader and former
minister Manish Tewari attacked
the government, saying the
omission of the two words in the
advertisement was only a prelude
S
uspended Trinamool Congress MP Kunal Ghosh yesterday said he would not get
justice unless all those involved
in the Saradha scam are arrested,
and called for replacing Mamata
Banerjee as the West Bengal chief
minister.
Ghosh, behind bars since November 2013 for his alleged complicity in the multi-billion rupee
chit fund scam, has repeatedly alleged the involvement of his party
leaders.
Yesterday he demanded that
the party leaders must be questioned by the Central Bureau of
Investigation (CBI) which is probing the scandal.
“Those suspected of being involved in the scam should resign.
They should face investigation.
Till then, (Panchayat Minister)
Subrata Mukherjee can function
as the chief minister,” Ghosh said
while coming out of a court.
The former media head of the
Saradha group has repeatedly alleged the involvement of Banerjee
in the scam. He has also called
for joint interrogation of the
Trinamool supremo along with
Saradha chief and scam kingpin
Sudipta Sen.
During the day, Ghosh urged
the court of metropolitan magistrate Arvind Mishra not to start
the trial until all those involved in
the scam are arrested and the CBI
completes its probe.
Ghosh pleaded before the
court to defer the trial as a lot of
“influential personalities” were
involved and unless they are arrested, he will not get justice.
His comments come ahead of
the appearance of Trinamool general secretary and former railways
minister Mukul Roy before the
CBI for questioning tomorrow.
Roy yesterday said he would
appear for questioning today.
Roy has been visiting Delhi frequently following the CBI summons.
“Today I have returned to Kolkata and like I have reportedly said
I will co-operate with the probe
agency. I have been asked to appear before the CBI tomorrow,
and I will appear before them on
that day and participate in the
probe,” Roy said.
The CBI has also arrested Rajya Sabha member Srinjoy Bose,
state transport minister Madan
Mitra and party leader and former
police officer Rajat Majumdar
among others in the case.
Ghosh also accused the police of
discrimination, saying other “influential people” arrested in the
case were enjoying undue benefits.
“If others are taken to the court
in a police jeep, why should I be
taken in a prison van? Why am I
not allowed to talk on mobile like
others,” Ghosh told reporters, referring to Madan Mitra who was
taken to the court in a police jeep.
to their substitution with “communal” and “corporate.”
Another Congress leader
called it an insult of the ethos of
the Constitution.
“The advertisement reflects an
affront to the Constitution and
sacrilegious insult to its ethos,”
party spokesman Randeep Surjewala said.
“We also call upon the prime
minister to clarify his stand on his
definition and understanding of
the words secularism and socialism as also the path that the government proposes to take on these
two important fundamentals ingrained in the letter and spirit of
the Constitution,” he added.
“A democracy can’t succeed
without people’s participation,”
says the ad, a Republic Day message, quoting Modi.
It also depicts people wearing traditional Indian attire and
carries the full Preamble of the
original 1950 Constitution in the
background.
However, the words “socialist”
and “secular” - added to the Preamble by the 42nd constitutional
amendment act of 1976 - are
missing.
In Mumbai, the Shiv Sena
party said the two words must be
dropped permanently from the
Preamble.
Party MP Sanjay Raut welcomed the exclusion of the words
from the advertisement.
“We welcome this. Though it
may have been done inadvertently, it was like honouring the
feelings of the people of India.
If the terms were mistakenly
deleted this time, we want them
to be removed permanently
from the Constitution,” Raut
said.
However, Nationalist Congress Party executive president
Jitendra Awhad opposed the Shiv
Sena proposal.
Analysts said with the central government making land
acquisition easier under publicprivate-partnership mode and
Bharatiya Janata Party state governments like Rajasthan and perhaps even Maharashtra moving
towards labour reforms - lifting
the protection of labour laws for
a larger number of enterprises
- the exclusion of the word “socialist” could also be considered
controversial.
Malayalam comedian
Mala Aravindan dies
Replace Mamata as CM,
says suspended MP
IANS
Kolkata
The advertisement that sparked the controversy.
By Ashraf Padanna
Thiruvananthapuram
P
Suspended Trinamool Congress MP Kunal Ghosh being taken to
a court in connection with the Saradha chit fund scam in Kolkata
yesterday.
opular comedian Mala Aravindan, who has acted in
more than 650 Malayalam
films in a four-decade-long career, died yesterday at the age of
74.
He was admitted to a hospital
in Coimbatore after a cardiac attack last week and was put on life
support, family sources said.
Thousands of people, including top stars and filmmakers,
paid their last respects when his
body was kept at the Kerala Sahithya Akademi Hall in Thrissur
and St Antony’s High School in
Mala.
Aravindan began his career
as a tabla artist with the state’s
vibrant travelling professional theatre groups after
he relocated to Mala from
Ernakulam where he
was born in 1941.
A noted theatre personality,
Aravindan
entered the film indus-
try in 1968 with P Chandra Kumar’s blockbuster Sindhooram.
Since then he has been an integral
part of the industry in the state,
working in popular films such
as Meesha Madhavan, Tharavu,
Patalam, and Thadavara.
Aravindan worked with three
generations of Malayalam actors,
from Prem Nazir, Jayan, Soman,
Mammootty, Mohanlal to Dileep
and now the younger actors.
He was the president of the
AMMA, the association of Malayalam movie artistes currently
headed by Innocent MP, and
owned a troupe of mimics Oscar
Mimics.
He will be cremated in Mala
village in Thrissur district today. He is survived by his
wife Geeta and children
Muthu and Kala.
Mala is a small,
sleepy town. It
was the assembly constituency
of
four-time
former
Kerala
chief minister K
Karunakaran.
Gulf Times
Thursday, January 29, 2015
23
INDIA
Govt says it
won’t appeal
Vodafone
tax ruling
Agencies
New Delhi
T
he government said yesterday it will not appeal
a court verdict favouring
British mobile giant Vodafone in
a multi-million dollar tax suit,
in a move aimed at winning back
investor confidence.
Vodafone has been embroiled
in a series of bitter tax disputes
with New Delhi since it entered
the country in 2007, becoming a symbol of problems facing
foreign firms doing business in
Asia’s third-largest economy.
The Bombay High Court ruled
in favour of Vodafone in one case
in October, rejecting allegations
by local authorities that an Indian unit of the telecoms major had
underpriced shares in a rights issue to its British parent to avoid
taxes.
“We have tried to give
a positive message to
investors”
Indian tax authorities had
been seeking payment of Rs32bn
($490mn) from Vodafone.
“The government will not appeal in the Supreme Court... in
the Vodafone case,” Telecommunications Minister Ravi Shankar
Prasad told a news conference in
New Delhi.
“The government wants to
convey a clear message to investors (the) world over that this is
a government where decisions
would be fair, transparent and
within the four corners of law.
“We have tried to give a positive message to investors.”
“Today, the cabinet by taking the decision not to challenge
in the order upholding Vodafone India’s contention that the
transaction, being international,
is not amenable to tax... we have
given a kind of signal...”
“Mainly, where income tax liability is clear, unambiguous,
it shall be charged; where it is
over-stretched without any legal
authority, the government will
be fair. That is the indication.”
Prasad said Finance Minister
Arun Jaitley discussed the issue
with the entire Central Board of
Direct Taxes (CBDT), Attorney
General Mukul Rohatgi and Solicitor General Ranjit Kumar before arriving at this decision.
“After legal examination, it
was deduced that the Bombay
High Court decision was right
and this fruitless litigation is
avoidable. Therefore, a conscious decision has been taken
not to file an appeal in the Supreme Court,” Prasad said.
In November, Rohatgi had advised the IT department not to
file an appeal against the Bombay
High Court judgment.
So-called transfer pricing the value at which companies
trade assets between units in different countries - has become
a major legal issue in India and
elsewhere.
Tax authorities argue companies set the prices for transferring assets for their own gain.
Several other multinational firms
are fighting similar transferpricing cases in India.
Foreign companies, however,
allege Indian tax laws are sometimes applied in an uneven and
capricious manner, making it
difficult to do business in the
country.
“We welcome the Indian government’s decision not to appeal
the Bombay High Court ruling. Stability and predictability in tax matters are important
for long-term investors such as
Vodafone,” a Vodafone Group
spokesman said. Vodafone is still
battling a more than $2bn tax demand over its $10.7bn purchase
of Hutchison Whampoa’s Indian
mobile operations in 2007.
But business-friendly Prime
Minister Narendra Modi, who
came to power in May on a pledge
to revive the economy, has vowed
to make India an easier place to
do business and ease off on taxes
to attract more foreign investment.
Cellular Operators’ Association of India’s director general
Rajan S Mathews said: “We applaud the principle on the basis
of which the government took
this decision. It is a clear signal to
the investors. It will help bring in
more foreign direct investment
in the sector.”
COAI is the business association of GSM players in India.
A Didar Singh, secretary general of the Federation of Indian
Chambers of Commerce and
Industry said in a statement:
“FICCI believes that it is a very
appropriate decision and this
will go a long way in correcting
the perception of the tax administration being adversarial. It will
help in creating a conducive tax
environment, specially for the
overseas investment community.”
“This decision will also help
in uplifting the positive sentiments of the domestic industry
further,” he added.
PM at NCC rally
Prime Minister Narendra Modi addresses cadets during the National Cadets Corps rally in New Delhi yesterday. Modi said the NCC was a “mini India” and it displays unity
in diversity that is the country’s strength.
Police quiz Amar Singh
in Sunanda death probe
IANS
New Delhi
P
olice yesterday questioned former Samajwadi
Party leader Amar Singh
as part of their probe into the
murder of Sunanda Pushkar,
wife of Congress MP Shashi
Tharoor.
Amar Singh told reporters he
was questioned by the Special
Investigating Team (SIT) of the
Delhi police for about two hours
at south Delhi’s Vasant Vihar
police station.
“When the SIT team came to
know that Sunanda had talked to
me a few days before her death,
they asked me to tell them the
sequence of my talk with her,”
he said.
After the Pushkar’s death,
Amar Singh had told reporters
that she was a brave woman and
could not commit suicide.
“If someone has murdered
Sunanda, he should be caught,”
he said.
“I am not against Shashi Tharoor. Tharoor and Sunanda both
were affectionate to me. I just
want the truth to come out,” he
said.
“Sunanda was my best
friend. I have told the police
what I knew about her,” he
said, adding he did not want to
disclose his police questioning
in public.
Sources said the SIT questioned Amar Singh over several
points related to Pushkar and
asked him about the Indian Premiere League angle as well.
Amar Singh had recently told
reporters that Pushkar was depressed over the IPL fiasco, the
led to the removal of the Kerala
franchise in which she had considerable sweat equity. He added
that Pushkar broke down and
she wanted to reveal information about the IPL controversy
to him.
Two journalists - Nalini Singh
and Rahul Kanwal - have already
deposed before the SIT and acknowledged that Pushakr did
call them before her death and
spoke to them about exposing
Tharoor and the IPL fiasco.
Police had questioned Kanwal
and Nalini Singh on January 22
and 23 respectively.
Amar Singh: questioned
The police are investigating
the IPL angle and the ownership
pattern of Kochi Tuskers and
want to find out if Pushkar was
the front for Tharoor when she
received Rs750mn equity from a
franchisee involved in the Kochi
team.
The IPL controversy had broken out in early 2010 when Tharoor was the minister of state for
external affairs in the Congress
government.
The investigators asked Amar
Opera singer hopes to
demystify art form
Reuters
New Delhi
W
hen Anando Mukerjee
tells people in India
that he’s an opera
singer, they are intrigued - and
impressed. Opera is almost unheard of in a country obsessed
with Bollywood spectacle.
Mukerjee wants to change
that. As India’s only male tenor performing on the global
stage, the 30-something singer
has made it his mission to demystify the art form through
live shows, social media and
by adapting opera to an Indian
context.
“The youth, they don’t have an
interest, not because of any fault
of their own,” said in New Delhi.
“But because they haven’t been
exposed to it.”
Mukerjee, who calls himself
the face of opera in India, hopes
to collaborate with music societies in the country. Plans include
bringing noted European operatic works to India, with an Indian
cast and setting that local audiences would relate to.
Mukerjee cites the example of
“Carmen,” a four-act opera set
in 19th-century Spain, which
he said could easily be moved to
India’s desert state of Rajasthan
and sung in Indian languages.
“Just as we’ve had adaptations
of Shakespeare in Bollywood,
one can easily adapt great operatic masterpieces to an Indian
narrative,” he said.
A few operas with an Indian
context have been staged in the
country over the years, including a 2013 production that relocated Orpheus’s descent into
the underworld to India, with the
mythical Greek hero required to
cross the Ganges river.
Mukerjee said he was in touch
with several Indian filmmakers
keen to feature him in the movies.
He was 13 when he discovered
his love for music, tuning in to
crooner Al Martino’s 1952 hit
single Here in My Heart on All
India Radio. He quit academics for opera after a degree in
molecular biology from Cambridge.
At 23, he took singing lessons from vocal coaches such as
Swedish tenor Nicolai Gedda,
and made his debut in 2006 at
Belgrade’s National Theatre,
singing the part of Rodolfo in
Italian composer Giacomo Puccini’s La bohème. His first name
often leads overseas audiences to
mistake him for a South American or someone from the Mediterranean.
The London-based singer describes himself as a lirico-spinto
tenor, versatile enough to sing
within limits both the lyrical and
dramatic roles of the operatic
repertoire.
At his December concerts in
New Delhi and Mumbai this year,
Mukerjee plans to sing at least
one aria, or key solo, as an encore
in Hindi.
“If you don’t compromise on
artistic integrity, and you don’t
dilute it artistically, and you
make it accessible and make it
really Indian, it’s a win-win formula,” he said.
Singh whether the IPL controversy had anything to do with
Pushkar’s death.
Delhi Police Commissioner B
S Bassi said: “Amar Singh had
claimed that he had some inputs
related to the case. He had also
revealed some point in the media. He was called for questioning today...”
He said the police will again
for question Tharoor.
Tharoor was questioned for
three-and-a-half hours on
January 19. Police officials had
then refused to share Tharoor’s
replies, saying any revelation
would hamper the investigation.
The SIT has already questioned various domestic helps
of Pushkar, her close friends and
other people. Pushkar’s son Shiv
Menon may also be called for
questioning.
In a related development, the
Delhi High Court refused to hear
a plea seeking its immediate intervention in the investigation.
The Public Interest Litigation
(PIL), filed by NGO Anti Corruption Front, said as the CBI
was biased in probing the case,
there was no positive and con-
structive development in the
case.
In such a situation, there was
cause and reason for the interference of the court into the investigation.
Filing the plea through advocates Deepak Prakash and Subhas Chandra, the NGO said the
police had registered the case
almost a year after the incident.
It added that Pushkar died under mysterious circumstance,
her body carried more than 10
injury marks and the reason for
the death was mentioned as poisoning.
“Even the investigating
agency found it was a clear
case of murder but till date it
is in dark. Even a long one year
passed after the incident occurred in a five star hotel of the
capital, no convincing conclusion has come out with regard
to the accused persons who
planned and executed the murder,” the PIL stated.
Pushkar was found dead in a
luxury hotel here on January 17,
2014. A murder case was registered by police against unknown
people on January 1 this year.
Nithari killer’s death
sentence commuted
Agencies
Lucknow
A
Opera singer Anando Mukerjee performs during a live show in New
Delhi on January 23.
court yesterday commuted the death sentence of a serial killer to
life in jail, lawyers said.
Surender Koli, 42, was convicted of the rape and murder
of young women and children
at his employer’s house in
Nithari in Delhi’s Noida suburb
during 2005-2006.
The Allahabad High Court
cited delays in reviewing Koli’s appeal, lawyer Yug Mohit
Chaudhary said.
Koli had appealed to state
authorities and later the president for clemency but there
was a delay of more than three
years in deciding on his plea.
The Supreme Court, in an
order last January, said excessive delays in carrying out executions were grounds for commuting a death sentence.
Koli was sentenced to death
in five of the 16 cases lodged
against him and others were
still under trial. He was to be
hanged last year but the execution was suspended by the Su-
preme Court on two occasions.
The Noida killings horrified
India after skeletal remains and
body parts of several children
were found in a drain behind
the house Koli worked in.
In some cases, Koli had
strangled girls and cut them
into pieces using kitchen knives
and an axe. Most of his victims
belonged to poor families living
in nearby slums.
zA court in Bihar yesterday
sentenced three people to life
in prison for gang-raping an
11-year-old girl in Bhojpur district, a lawyer said.
First additional district and
sessions judge of Ara civil court
J P Mishra pronounced the order.
Nilnidhi Singh, his brother
Jay Prakash Singh and Jaggu
Pandit were charged with raping six Mahadalit women, including the girl, at gun point in
the district’s Kurmuri village
on October 8, 2014.
Police said the medical report only confirmed the rape of
the minor girl.
Last week, the court absolved them of the charges of
raping five other Mahadalit
women for lack of evidence.
24
Gulf Times
Thursday, January 29, 2015
LATIN AMERICA
Nisman’s
security
team chief
suspended
AFP
Buenos Aires
T
Demonstrators participate in a rally to protest against government policies in Sao Paulo, Brazil.
Scam-hit Petrobras
sees earnings slide
President Rouseff’s government is
facing a real threat because of the
scandal
Agencies
Sao Paulo
S
candal-plagued Brazilian oil giant
Petrobras announced incomplete,
long-delayed third quarter 2014 results yesterday that showed profits down
9% compared to the previous year.
The news sent Petrobras shares plunging 11.31% by early afternoon.
It was the firm’s second earnings report
since a massive scandal broke in March
exposing alleged kickbacks by contractors
and payoffs to politicians estimated at up
to $4bn.
In its twice delayed report, Petrobras
said it earned 3.097bn reales in the third
quarter, a 38% drop from the second quarter of 2014.
The oil giant gave no details on the loss
in the value of assets resulting from the
graft scandal, saying it could not quantify
the depreciation.
Moreover, the results—which were originally supposed to be released in November—were not signed off by the company’s
external auditors PricewaterhouseCoopers.
Petrobras said it had a duty to shareholders to release the results, even if incomplete and not externally approved.
“The company understands it will be
necessary to make adjustments to the ac-
counts to make modifications to the value
of fixed assets affected by fraudulent contracts,” Petrobras said in a statement.
The firm added it considered it “impossible” to calculate “correctly, completely and
definitively” the extent of asset depreciation
resulting from the corruption scandal.
Market analysts estimate the depreciation at between $10 and $20bn.
“The reaction is the market is understandable as we just don’t know the value,”
Eduardo Velho, chief economist with Invx
Global consultants, told AFP.
The uncertainty leaves Petrobras facing
a possible credit downgrade from ratings
agencies.
Last October, Moody’s downgraded the
firm to two levels above speculative debt
and maintained a negative outlook.
Petrobras blamed the poor results on a
drop in oil production, a fall in the value of
the real against the dollar and the suspension of work on two refineries.
Brazil’s biggest company has been beset
for months by a widening probe into alleged kickbacks to politicians, mainly allies of the government of president Dilma
Rousseff, a former Petrobras chair.
A total of 39 people—former executives
from the company itself and representatives of construction companies—are under investigation.
A detained former Petrobras director,
Paulo Roberto Costa, says dozens of politicians benefited from hundreds of millions of dollars of kickbacks from inflated
Petrobras contracts over a decade.
Under the alleged corruption scheme,
companies won contracts that were inflated to include illicit surcharges.
The cash was then allegedly passed on to
intermediary companies that drew up bogus service and consultancy contracts, allowing the money to be laundered through
these firms.
Police say the graft ring moved $4bn
over the past decade.
No one has been formally charged, but
one suspect has implicated 28 politicians,
some of them close to Rousseff herself,
who denies all knowledge of the scam.
After a cabinet meeting Tuesday, Rousseff demanded an end to corruption as she
seeks to revitalise an economy struggling
for investment with its reputation dented
by the Petrobras affair.
“We must punish but not destroy firms
that are essential to Brazil. We must close
the door on corruption,” Rousseff said.
In the current circumstances, Petrobras,
already facing a mammoth debt pile, hopes
to limit as far as possible the need to seek
external finance in the coming months.
Petrobras chair Graca Foster said recently the company would not be passing
on the recent falls in crude prices when
pricing fuel, “which in the current situation will very much favour the coffers.”
According to America Economia the
scandal could threaten President Dilma
Rousseff ’s ability to govern.
For almost a year now, magistrates have
investigated an increasingly complex web
of fraudulent contracts, fake bills, bribes
and money laundering that began years
before, and have turned Petrobras into
Former hostage Betancourt calls
for trust-building with Farc
Agencies
Paris/Bogota
I
ngrid Betancourt, a former
Colombian
presidential
candidate who was the most
high-profile hostage in the Colombian conflict, called for
earnest negotiation and trustbuilding efforts with the rebels.
“We cannot be so selfish as to
think that we are going to end
this war by putting everyone in
jail,” Betancourt said in an interview that the Bogota daily El
Tiempo published yesterday.
Betancourt, a French-Colombian citizen, was a hostage
of the Revolutionary Armed
Forces of Colombia (Farc) for six
and a half years, until her rescue
in July 2008.
“We need to learn to trust.
You are not born trusting, it is
a decision and a purpose,” she
said.
She said it is important to allow Farc to take part in the political process, and flexibility is
in order even regarding issues
like punishment for crimes
committed by the rebels.
“We have to consider the
paths to make peace possible.
If we allow the crimes that have
been committed against Colombians to be paid for in a different way (not prison), stressing that it should prevent more
kidnappings, orphans, raped
women and all the disasters that
war causes, it would be worth
it,” she said.
FARC and the government
of Colombian president Juan
Manuel Santos have been holding peace talks in Havana for
more than two years, with a view
to ending a conflict that has
lasted more than half a century.
The Farc guerrilla group warned
yesterday that army attacks
have resulted in 20 deaths since
a unilateral rebel ceasefire went
into effect last month, putting
peace talks in jeopardy.
The Revolutionary Armed
Forces of Colombia, or Farc, accused “war-mongering sectors”
of seeking to sabotage the onesided truce, and said the attacks
were making the rebels’ decision to halt offensive operations
increasingly unsustainable.
President Juan Manuel Santos
has acknowledged that the Farc
has held to the unilateral ceasefire it announced December 20,
but he has refused to reciprocate.
“The deployment of troops
accompanied by bombardments, landings and assaults
has to date resulted in six guerrillas dead, six wounded, two
captured, and the also regrettable toll of 14 soldiers dead,
and five wounded,” the Farc
said in a statement e-mailed
to AFP.
“Even as we alert our guerrilla forces in the country of the
serious situation, we send out
an SOS to the social and popular movements in Colombia,” it
said.
The Farc has been in peace
talks with the government since
November 2012
an informal bank of sorts, passing money
from firms onto prominent members of
the country’s parliamentary, executive and
party elite.
The scandal exploded when federal
police arrested one of the firm’s directors (Costa), who began to name alleged
accomplices in return for clemency. The
names included those of the top directors
of six of the country’s engineering and
construction firms — contracting firms
routinely working with Petrobras — and
30 or so senior or former state officials,
mostly from Rousseff ’s Workers’ Party
(PT).
It turns out that the corruption began
under the previous president Luis Inacio
Lula da Silva, when Rousseff was energy
minister and effectively responsible for
goings-on in Petrobras. Indeed as minister
in 2009, she rejected investigators’ indications of possible corruption in Petrobras.
The scandal is proving to be as financially damaging as it is noisy. Petrobras
shares lost 65% of their value since September 2014, infuriating minority stockholders who include institutions and
foreign funds. One of these, the city of
Providence, Rhode Island, is taking action
with courts in New York and the Securities and Exchange Commission (SEC), to
check if Petrobras broke US laws.
The expanding list of charges and revelations is creating problems for any and
all sectors it touches. Building firms accused of involvement are finding it difficult to finance themselves on the money
markets.
he security chief for the
Argentine prosecutor
who was found dead
just hours before making allegations against the president,
has been suspended and is
under investigation, a judicial
source said yesterday.
Alberto Nisman was found
in his Buenos Aires home with
a bullet to the head on January 18, before he was to appear
at a congressional hearing
to accuse president Cristina
Kirchner of shielding Iranian
officials implicated in a bomb
attack on a Jewish charities
federation office in 1994 that
left 85 dead.
Ruben Benitez, a Nisman
confidant and the third officer to be suspended in the
case, had co-ordinated a
security team of 10 officers
who protected the prosecutor.
According to a leaked statement made to the investigation’s head prosecutor, Benitez said he advised Nisman
against buying a gun just days
before his death.
But the officers have fallen
under scrutiny for contradictory statements to the prosecutor in charge of the case,
Viviana Fein.
And police authorities say
the security force broke with
protocol when they went
several hours out of contact
with Nisman on the day of his
death, and failing to report it
to their superiors.
Two other guards, Armando
Niz and Luis Ismael Mino,
have also been suspended.
Meanwhile Diego Lagomarsino, a Nisman colleague who
lent the prosecutor the pistol
with which he was killed, and
is believed to be the last person
to have seen Nisman alive, was
expected to give a press conference later in the day.
Accusing of giving a gun to
someone other than its registered owner, Lagomarsino
is the only individual so far
charged in the case.
Nisman was to be mourned
at a wake and buried today at
a Jewish cemetery in La Tablada, on the outskirts of Buenos Aires.
The prosecutor had accused
Kirchner and her foreign minister Hector Timerman of
shielding Iranian officials implicated in the bombing of the
Argentine-Jewish Mutual Association.
After
Nisman’s
death,
Kirchner suggested he had
been manipulated by former
intelligence agents who then
killed him to smear her.
Kirchner on Monday announced she was disbanding
Argentina’s intelligence service.
Investigators have said Nisman’s death appeared to be
suicide, but it has been classified as a “suspicious” death
and homicide or an “induced
suicide” have not been ruled
out.
Sao Paulo says water
rationing imminent
AFP
Sao Paulo
A
uthorities in Sao Paulo,
Brazil’s richest state
and economic hub, have
warned they are considering
severe water rationing if the
country’s worst drought in 80
years continues.
Officials outlined draconian
plans for alternating cuts that
would leave areas without water
for five days at a time.
“If the rain persists in not
falling into the Cantareira reservoir system, the solution
would be for very heavy rationing,” said Paulo Massato, director of the state water company
Sabesp.
Sabesp runs the Cantareira
system, which supplies nearly
half of the Sao Paulo metro-
politan area, South America’s
largest city with 20mn people.
“The rationing would see two
days with water and then five
without,” he said late Tuesday.
Massato said it was the only
way to avoid a total cut in water supplies, which have been
depleted by months of severe
drought that have sent water
levels to their lowest levels in
living memory. Unless it rains
soon, supplies could run out altogether by March.
With around 40mn inhabitants, Sao Paulo state is an industrial behemoth that relies on
large scale water supplies to run
its plants and factories.
Recent weeks have seen
growing protests by families
complaining that they have had
to go without water for days at
a time as their their home taps
run dry.
Chile puzzle
Aerial view of the newly finished PV Salvador solar plant near El Salvador, in the Atacama desert, northern Chile. The photovoltaic plant,
built by SunPower, a California-based branch of Total, with a maximum output of 70MW, is one of the world biggest solar plants.
Gulf Times
Thursday, January 29, 2015
25
PAKISTAN/AFGHANISTAN
Ghani cabinet
is rejected by
lawmakers
Reuters
Kabul
A
fghanistan’s parliament yesterday dealt a new blow to
President Ashraf Ghani’s efforts to assemble a government, approving just eight out of 25 cabinet
nominees before its winter recess.
Ghani, who took office in September promising dramatic reforms and
greater transparency, must now wait
until mid-March before introducing
new candidates to the lower house.
The key positions of minister of
the economy, defence and justice all
remained vacant after the vote. The
nomination of a central bank governor
was also rejected by the lower house.
The lack of leadership at ministries
is fueling instability at a critical time.
The country is already struggling with
a severe budget crisis, plummeting
economic growth and a growing Taliban insurgency.
Pakistan expresses
concern over US,
India nuclear deal
P
akistan yesterday expressed
concerns over a civil nuclear deal between the US and
India announced during President Barack Obama’s recent visit
to New Delhi.
The nuclear deal “would have a
detrimental impact on deterrence
(and) stability in South Asia,” Pakistan’s National Security Adviser Sartaj Aziz said in a statement.
“Pakistan reserves the right to
safeguard its national security interests,” he added.
In the deal, Obama committed
US backing for India to join the
Nuclear Suppliers Group (NSG),
a multinational non-proliferation organisation, as well as a reformed UN Security Council.
Aziz said an exemption from
NSG rules to grant membership to
India would exacerbate tensions in
South Asia, undermine the credibility of the NSG and weaken the
non-proliferation regime, he said.
“Pakistan remains opposed to
policies of selectivity and discrimination,” Aziz said.
Pakistan and India have fought
at least three major wars and have
been involved in countless border
skirmishes since gaining independence from Britain in 1947.
“Today, the voting process for the
ministerial nominees has been completed and the budget for next year
has been approved,” lower house
speaker Abdul Rauf Ibrahimi said.
“The lower house will officially start
its winter break tomorrow.”
The finance ministry was among
the positions approved and the spy
chief was allowed to continue in his
post.
A statement from Ghani’s office
promised to introduce new candidates
soon.
Part of Ghani’s trouble producing
a list of nominees has arisen from a
need to agree on candidates with his
rival-turned-partner, Abdullah Abdullah, who now has a prime minister-like post of chief executive.
The powerful vice president Abdul
Rashid Dostum also holds sway over
the process. Dostum was among those
disappointed yesterday, after parliament rejected the nomination of one
of his allies as minister of transport.
The vote also upset women’s rights
activists who had hoped to see more
women represented under the new
president.
Three instead of the promised four
women were nominated to cabinet
positions and by yesterday just one
remained on the list. She, too, was ultimately rejected.
“When I saw three females on the
list I was unhappy ... but I am very sad
in particular today because in the end,
we got only one,” parliamentarian
Shukria Barakzai told Reuters ahead
of the vote. “That has been the worst
thing.”
Allegations of corruption have also
marred the process, with government
and security officials accusing parliamentarians of taking bribes in exchange for votes.
Former president Hamid Karzai
emerged as another loser yesterday,
after the budget decision rejected his
decree to continue paying over a hundred of his staff for five more years.
Balloon man!
An Afghan sells balloons on a roadside in Khair Khana district of Kabul.
IS names leader to fight
Qaeda in ‘Khorasan’
DPA
Islamabad
T
US drone strike kills 6 in
northwest Pakistan
AFP
Quetta
A
US drone strike yesterday
killed at least six militants in
a Pakistani tribal region where
Islamabad launched a full-scale military offensive last year, security officials said.
The strike targeted a Taliban
compound in North Waziristan,
one of seven semi-autonomous
tribal
districts
that
border
Afghanistan and a hub for Al Qaeda
and Taliban militants since the early
2000s.
“A US drone fired two missiles at a
compound and vehicle in Shawal area
of North Waziristan, killing six terrorists,” a senior security official told
AFP, speaking on condition of anonymity.
Another security official confirmed
the strike and casualties.
Recent
drone
attacks
by
the US have raised speculation
that Washington and Islamabad
are coordinating their military
efforts.
Pakistan, however, officially denounces the strikes as a violation of
its sovereignty.
The area is generally off-limits to
journalists, making it difficult to independently verify the number and
identity of the dead.
Washington pressed Islamabad for
years to wipe out militant sanctuaries
in North Waziristan, which have been
used to launch attacks on Nato forces
in Afghanistan.
The Pakistani military launched
a major offensive in the area in June
and says it has killed more than 2,000
militants so far, while 129 soldiers
have lost their lives.
The latest strikes came after Pakistan ramped up its anti-terror strategy in the wake of a December 16
attack on an army-run school in Peshawar that killed 150 people, 134 of
them children.
Prime Minister Nawaz Sharif has
announced the establishment of military courts for terror-related cases in
order to accelerate trials, and also lifted a six-year moratorium on the death
penalty, reinstating it for terrorismrelated cases.
he Islamic State militant group
has appointed a former Taliban
leader as its commander for Pakistan and Afghanistan in a challenge
to Al Qaeda’s decade-long dominance
as the main hardline Islamist group in
the region.
Hafiz Saeed Khan, a former Pakistani
Taliban commander, would now lead
Islamic State militants in the region
known as Khorasan among jihadists, a
spokesman for the group said.
“Hafiz Saeed Khan has been appointed as the governor of Khorasan
province (of the Islamic State),” Islamic
State spokesman Abu Mohamed al-
Adnani said in an audio message posted
on Twitter this week.
Khorasan is a term used by jihadists
to describe a vast region comprising
Pakistan, Afghanistan, parts of Iran
and China’s Muslim-majority Xinjiang
province in the north-west.
It is for the first time that Islamic
State, which controls large swathes of
territory in Syria and Iraq, has spoken
publicly about its intention to seek influence in the region.
Khan was Taliban commander for
the Orakzai tribal district in Pakistan
before he parted ways with the militant
group early last year, officials said.
Al-Adnani mentioned the recent
death of late Saudi King Abdullah bin
Abdul-Aziz in an apparent attempt to
prove that the 10-minute audio record-
ing in Arabic was new. The authenticity
of the audio file could not be verified by
independent sources.
Khan, reportedly in his early 40s,
was once a spokesman for Tehreek-eTaliban Pakistan, an umbrella organization for several militant groups. He
remained as Taliban commander in
Orakzai until the death of its former
leader Hakimullah Mehsud in a drone
strike in 2013.
The audio recording came weeks
after several Pakistani Taliban leaders pledged allegiance to Islamic State
leader Abu Bakr al-Baghdadi, the selfproclaimed caliph. The development
came amid reports that a former Afghan Taliban leader Mullah Rauf was
recruiting for Islamic State in Afghanistan’s Helmand province.
An image made from a video released by the Islamic State purportedly showing Hafiz Said Khan, head of the IS branch in
Pakistan and Afghanistan, at an undisclosed location on the Pakistan-Afghan border.
Kayani was scared to take on militants: Musharraf
Internews
Karachi
P
Musharraf ... his take on events
akistan’s former president and
retired General Pervez Musharraf
believes that one of the reasons
why the country’s security challenges
have become almost insurmountable
now is because his successor, retired
Gen Ashfaq Parvez Kayani, was too
scared to take action against militants.
In an interview yesterday, Gen
Musharraf said that it was Gen Kayani’s
own reluctance and not poor judgement - that caused him to not launch
an operation against the Taliban.
“You see, the main issue is that when
a government is inactive, it requires an
army chief to go and coax it into action. That’s what (Gen) Raheel (Sharif)
has done. So either Gen Kayani was
scared or too reticent or too reserved.
He didn’t want to go and discuss this
matter.”
When this reporter pointed out that
Gen Kayani must have gone to the then
Pakistan People’s Party government for
an extension in his term as army chief
- and the PPP government was said
to have acquiesced within hours, Gen
Musharraf said: “But that was for his
own person.
“The army was clear in its views as
a whole. They wanted action, even in
Kayani’s days.
“Kayani has to be asked why he
did not act (against the militants). I
wouldn’t be able to comment on that.
But the delay was all in that period.”
The former military ruler recalls that
his government took on Tehreek-iTaliban Pakistan chief Mulla Fazlullah
in 2007. “We acted against him and
defeated him. Peaceful elections were
held in 2008,” Musharraf said.
“The turnout was good. The Awami
National Party - and not religious parties
- came to power in Khyber Pakhtunkhwa.
And then Fazlullah was allowed to return
and set on fire 13 girls schools.
“He had the tourist resort in Malam
Jabba torched. No action was taken till
he crossed the Shangla Hills and almost blocked the Karakoram Highway.
When there was international hue and
cry that the militants were only 100
miles away from Islamabad, then they
woke up.”
Apart from blaming Gen Kayani for
his pusillanimity even when a wave of
terrorism swept through the country,
Musharraf also feels he was let down by
his successor when political adversaries thought he was vulnerable he had
taken off the all-powerful army uniform and threatened him with an impeachment move.
“To a degree, yes. He could have
helped out there. But, you see, I didn’t
want to sit in the presidency as a useless president. I am not that type.”
Had Gen Kayani made it clear that
in a stand-off between Gen Musharraf
and the PPP government, he would be
neutral. “Yes.”
But Musharraf seems to be quite
happy with his successor’s successor,
Gen Raheel Sharif. So much so that he
does not mind Gen Sharif becoming a
globetrotting army chief, hobnobbing
with world leaders and conducting the
country’s foreign policy.
“It’s not he who’s doing that, it’s
those countries who are giving him that
stature. The army is the only stabilis-
ing institution in Pakistan. That is why
they give importance to the military
chief. Especially when they also see the
degree of bad governance going on.
“They want to see where the stability comes from. That is why they give
him importance. He should take it. He
should be proud of it.”
Emboldened by Gen Sharif’s initiatives against militancy especially after
the gruesome attack on the Army Public School in Peshawar the Muttahida
Qaumi Movement has called for the
imposition of martial law in Sindh.
Does Musharraf think the call for martial law is reasonable and fair?
“I don’t think there should be martial
law. And I have my reasons. Pakistan is
facing the worst situation in its history.
The economy is not doing well. Terrorism is in all the provinces. It has never
been this bad.
“The army is a fallback force in the
country. We call it in the military, a
force in being. Its potential consists in
being. If you use it or consume it, it’s
gone. If you were to use the military,
and suppose in the present situation of
turmoil, they are unable to rectify the
socio-economic ills of Pakistan, you’d
have consumed this fallback force.
Musharraf feels bad having struck
the NRO deal with former prime minister Benazir Bhutto. “I shouldn’t have
done that. It impacted me very wrongly
and the political realities of Pakistan.
My popularity went down because of
the NRO deal.”
Dismissing the assertion made by
former US secretary of state Condoleezza Rice in her memoirs that she
brokered a deal between Gen Musharraf and Bhutto, he recalls that the NRO
deal was actually aimed at “weaning
away the PPP and Benazir” from the
group of political parties that were
agreeing on the Charter of Democracy
in London.
“I met Benazir in Abu Dhabi. She
had three demands. First, remove Article 58-2B (of the Constitution). The
moment she said that, I said out of the
question. And the way I said it, she immediately conceded. She said alright
put this aside.
“She demanded an end to the restriction on a person becoming a prime
minister for a third time and withdrawal of corruption cases. I demanded that
she wouldn’t return before the elections.
“She asked me when the elections
would be held. I said roughly in the first
or second week of Dec 2007. She said
she would be able to come before New
Year.
“And, on a lighter note, she asked me
if she invited me to a New Year party,
would I come. I said I would. This was
the level of understanding of what she
had to do.”
Prime Minister Nawaz Sharif, however, has a valid reason to bear a grudge
against Musharraf. The former strongman ousted Sharif in a coup in Oct
1999.
“Nawaz Sharif has a reason, but he’s
taking it to an extent where it has become an issue of instability my trial,
being hostile towards me, putting my
name on the ECL (Exit Control List)
these things are not going down well
with the army my trial is vendetta.
“I am the only former head of state
in Pakistan who has been to the lowest
courts in the subordinate judiciary.”
26
Gulf Times
Thursday, January 29, 2015
PHILIPPINES
Government and
rebels set to
decommission
guerrilla weapons
DPA
Manila
P
hilippine government
and rebel negotiators
plan to finalise the details of a pact on decommissioning of guerrilla weapons
following a deadly clash that
left 44 police officers dead, a
government official said yesterday.
The decommissioning by
the Moro Islamic Liberation
Front (MILF) is one of the
key provisions of a peace deal
signed by the rebel group and
the government in March.
“The peace panels will
meet in Kuala Lumpur on
Friday to sign the protocol
on implementing the decommissioning of MILF arms and
weapons,” said Miriam Coronel Ferrer, the government’s
chief negotiator.
The two parties will also
discuss the first batch of
weapons to be turned over to
international monitors supervising the processing of
combatants, she added.
The talks were preceded
by a 2003 ceasefire that has
been periodically broken, including by the attack at the
weekend.
On Sunday, at least 44
police officers were killed in
a clash with MILF rebels in
the town of Mamasapano in
Maguindanao province, 960
kilometres south of Manila,
while on an operation to arrest suspected Jemaah Islamiyah terrorists.
The
Al
Qaeda-linked
Jemaah Islamiyah has been
blamed for some of the worst
terrorist attacks in SouthEast Asia, including the 2002
Bali bombing that killed 202
people. It is thought to have
some links with local Muslim
militants.
Under the agreement, a
new Muslim autonomous
entity is to be established in
Mindanao by 2016 through
a law yet to be approved by
Congress and ratified in a
plebiscite.
Discussions on the proposed law have been suspended following the clash.
MILF
chairman
Murad Ebrahim acknowledged
that speculation about how
the fighting erupted would
“weigh down ... current efforts to bring peace” in
Mindanao.
The MILF has alleged that
the police did not co-ordinate the operation with the
rebel group through an international monitoring team as
stipulated in the rules of the
ceasefire, which lead to the
deadly clash.
“In order to give meaning to their deaths, we must
resolve not to let something
like this to happen again,”
Murad said. “We hereby reiterate the MILF’s full commitment to the peace process
with the Philippine government.”
He also stressed the need
for both sides to follow protocols and guidelines that
have been set up in the peace
talks, such as the ceasefire,
which have reduced hostilities in the past.“It is unfortunate but not entirely surprising that when parties
do not follow established
protocols, lives are placed in
harm’s way,” Murad said.
“We therefore recommit
ourselves to follow these
processes and protocols for
widest dissemination.”
Foreign department urges
Filipinos to leave Yemen
By Camille Bernice V Bauzon
Manila Times
A
ll Filipinos in Yemen
must leave the conflict-torn country as
soon as possible, the Department of Foreign Affairs (DFA)
said yesterday.
Yemen is under crisis alert
level 3 or voluntary repatriation, according to a statement
from the department.
All new deployments of
Filipino workers there or
their return from vacation
are also banned.
The Philippine Embassy
in Riyadh is monitoring political and security developments in Sana’a and the rest
of Yemen.
According to the department, the embassy also continues to assess the political and security situation in
Yemen in light of recent resignations of high officials of
the Yemeni government and
after the Houthi occupation
of the presidential palace.
“All Filipinos are urged
to avoid unnecessary travel
outside their homes, which
should also be fortified
against stray bullets,” it said.
“The embassy strongly
urges them not to participate
in any mass demonstrations
and to avoid areas of conflict. If necessary, they are
advised to leave their places
of residence which are in or
near areas of conflict,” the
DFA added. All Filipinos who
wish to avail themselves of
voluntary repatriation must
immediately
co-ordinate
with the Crisis Management
Team based in Sana’a for assistance.
The embassy reiterated its
call to all Filipinos in all cities
and regions of Yemen to register with the Philippine Embassy, or update their earlier
registrations, by visiting the
embassy’s website at www.
riyadhpe.dfa.gov.ph.
Innovation
Engineers test-drive a gasoline-powered “Salamander”, an amphibious tricycle, on the lake surrounding the Taal volcano, in Batangas city, south of Manila yesterday. The
“Salamander”, invented by H20 Technologies, is capable of travelling on both land and water and can be used for rescue operations when there is flooding. The
gasoline-powered version can carry five passengers and would cost around 200,000 Philippine pesos ($4500).
Aquino urges support for
peace pact after bloodbath
AFP
Manila
P
hilippine President Benigno Aquino urged parliament yesterday to save
a rebel peace deal after it was
jeopardised by a bungled antiterror raid that killed 44 police
commandos.
Public pressure is growing
for retribution after Sunday’s
bloodbath on the southern island of Mindanao, the worst
loss of life by the country’s police or troops in recent memory.
Aquino warned against calls
to jettison a regional autonomy bill now being debated in
parliament — aimed at ending
decades of rebellion in Mindanao which killed tens of thousands — as payback for the police slaughter.
“If the law is not passed
soon, the peace process will
fail,” he said in a live television
address.
“Our people will lose hope,
resort to living outside the law
and choose to commit violence
against their fellow men.”
He also called on the
10,000-member Moro Islamic
Liberation Front (MILF), the
main rebel group which signed
the peace agreement last year,
to help the government “bring
those responsible to justice”.
Senate (upper house) president Franklin Drilon earlier
yesterday said backing for the
bill was seriously eroded as two
President Benigno Aquino gestures during an address to the nation,
regarding the clash between members of the Philippine National Police
(PNP) Special Action Force and rebels, at the presidential palace in
Manila yesterday.
Aquino allies withdrew support in protest at the killings,
leaving less than half of the
24-member senate supporting
it.
“My worry is that the Bangsamoro basic law will not be
passed because the incident
has stoked emotions,” Drilon
told local radio station DZMM.
The bill needs majority support in both the Senate and
the House of Representatives
to become law. Parliament
had been aiming to pass it by
March.
Public hearings on the bill
were also suspended as other
senators demanded an explanation for the bloodshed.
House members also called for
a reassessment of the peace accord.
Aquino said he had been told
by police that Zulkifli bin Hir,
a Malaysian bombmaker and
leading member of the Jemaah
Islamiyah group which staged
the 2002 Bali bombings, was
killed in the raid.
There has been no independent confirmation of the claim.
The 392-member police
force mounting the raid suffered 44 dead while 16 policemen or civilians were wounded,
Aquino said, giving an updated
report.
Rebels gave no figures for
their own dead or wounded.
Aquino said a second target
of the operation, Filipino militant Abdul Basit Usman, put up
a fight and forced the raiding
force to withdraw.
They were then ambushed by
the MILF as well as the Bangsamoro Islamic Freedom Fighters, a militant splinter group
that rejects the peace deal and
last year pledged allegiance to
Islamic State fighters in Syria
and Iraq.
Aquino welcomed a statement earlier yesterday by MILF
leader Murad Ebrahim, who
had pledged determination
to pursue peace and vowed to
form a high-level inquiry into
the firefight.
“Until what happened is established with credibility and
integrity, the said incident will
weigh down our current efforts
to bring peace to our homeland,” Murad said in a statement.
The US has offered a $5mn
reward for information leading
to Zulkifli’s arrest.
Usman, like Zulkifli a Jemaah
Islamiyah member, is the subject of a $1mn reward offer and
is blamed for at least nine Philippine bombings.
Manila-based analyst Ramon Casiple said the apparent
robbing of the corpses — with
pictures of some of the dead
showing missing weapons and
clothing — could spark a desire
for revenge among military or
police units in the area.
One police survivor said
some wounded or captured
colleagues had been finished
off with shots to the head.
“The military, police, senators are all out for blood. The
only thing that will satisfy
them is for the perpetrators to
be tried in court,” said Casiple,
executive director of the thinktank Institute for Political Reforms.
Julkipli Wadi, dean of the Institute of Islamic Studies at the
University of the Philippines,
said the slaughter “poses a big
challenge to the peace process
but I think it’s not enough reason to stop the peace talks”.
Watchdog calls for demo on vote machine hacking
By Jomar Canlas
Manila Times
T
he Commission on Elections (Comelec) can use
technology to undermine
every Filipino’s right to vote with
the aid of a hacked counting machine, and this is the surest way
to kill democracy in the country.
Under this rallying cry, the
Automated Election System
Watch (AES Watch), a broad
citizens’ election watchdog of
40-plus affiliated organizations, yesterday asked Congress
to conduct a demonstration to
show that Comelec’s Precinct
Count Optical Scan (PCOS) voting system can be hacked.
In an urgent letter to the Joint
Congressional Oversight Committee (JCOC) on AES, Senate
Committee on Electoral Reform and People’s Participation
(CERPP) and House Committee
on Suffrage and Electoral Reform
(CSER), the AES Watch’s information technology (IT) members composed of programmers
and IT security experts said they
accept Comelec chairman Sixto
Brillantes Jr’s challenge to show
that the PCOS system can be
tampered with, and that election
results can be rigged electronically.
The letter was signed by AES
Watch’s lead conveners and
members including Nelson J
Celis, group spokesman; Bishop
Broderick Pabillo, AES Watch
co-convener and CBCP public
affairs commission chairman; Dr
Pablo R Manalastas, a programming guru from UP and Ateneo
and CenPEG IT Fellow; Maricor
Akol of TransparentElections.
org; and Leo Querubin, president of Philippine Computer
Society.
Former Comelec Commissioner Gus Lagman, the country’s first IT practitioner and coconvener of AES Watch, earlier
accepted Brillantes’ challenge to
demonstrate automated hacking.AES Watch asked the three
Congress committees to hold the
demo within the week or before
Brillantes, along with two commissioners, retire on February 2.
“External hacking is not the
main problem,” AES Watch said.
“What is most worrisome is the
PCOS machines are vulnerable
to tampering by an insider.”
Lagman’s January 12 letter to
Brillantes said: “Not only can the
PCOS software and CF (compact
flash) cards be tampered (with)
by an insider, but also the Consolidation and Canvassing System and the Election Management System. They shouldn’t be
if Smartmatic made tight controls, which it didn’t.”
Brillantes, last January 7,
dared Lagman to show at the
Comelec and in the presence of
election stakeholders and media
how the (election) results can be
tampered with.
Lagman replied: “The onus
of proving the system safe from
manipulation is on Smartmatic
and Comelec ‘since both removed all the safeguards. Still, I
accept your invitation.’”
Lagman, however, asked for
the presence of at least one
Smartmatic technician—an “insider” computer programmer—
who knows the software and
how to modify it.“I will ask him
to explain the different modules that comprise the software,
as well as the data format and
contents of the CF cards; after
which, I will instruct him where
and what to alter,” he said.
Since 2010, numerous reports
and evidence-based cases have
surfaced after the first Smartmatic-supplied automated election
was held, showing system vulnerabilities and deficiencies that include tampered election returns,
altered CF cards, programming
errors and other disturbing incidents. Early in 2014, the Technical Evaluation Committee (TEC)
of the Department of Science
and Technology (DOST) revealed
signs of election results possibly
changed with distorted digital
lines appearing in ballot images.
There have also been reports of
local poll officials and fraud spe-
cialists approaching candidates to
make them win electronically for a
huge fee.
Meanwhile, several election
watchdog groups also yesterday asked the Supreme Court
to blacklist and void the alleged
sweetheart deal between the
Comelec and Smartmatic-TIM
for the procurement of counting
machines for the May 2016 polls.
In a petition for certiorari,
the watchdog groups asked the
High Court to junk the ComelecSmartmatic contract, citing the
poll body’s grave abuse of discretion amounting to lack or excess of
jurisdiction.
The petitioners include the
Citizens for Clean and Credible
Elections, National Labor Union,
League of Elder and Aging Persons, Philippine Association of
Free Labor Unions, Anti-Trapo
Movement of the Philippines, Alliance of Government and Private
Retired Employees, ACCO Homes
Neighbourhood Association and
Kaakbayparty-list.
They also sought a temporary restraining order or writ of
preliminary injunction against
Comelec and Smartmatic-TIM to
immediately stop the bidding.
The petitioners pointed out
that the election court must be
reversed in granting eligibility to
Smartmatic and proceeding with
the bidding for the procurement
of Optimal Mark Reader (OMR)
and Direct Recording Electronic
(DRE) machines, as well as the
lease of election management
system (EMS) and Precinct-Based
DRE technology due to several
violations allegedly committed
by Smartmatic-TIM in its former
contract with the poll body.
Gulf Times
Thursday, January 29, 2015
27
SRI LANKA/BANGLADESH
Sirisena reinstates
sacked chief justice
AFP
Colombo
S
ri Lanka’s new president
yesterday restored the
country’s former chief
justice after she was controversially impeached by the previous
administration led by Mahinda
Rajapakse.
Lawyers welcomed Shirani
Bandaranayake with bouquets
of flowers at the Supreme Court
in Colombo, although the decision to reinstate her will likely
be largely ceremonial as she is
expected to step down today.
A government official who
asked not to be named said President Maithripala Sirisena had
written to Bandaranayake to say
her 2013 impeachment was unconstitutional and she should
return to work.
“President Maithripala Sirise-
na has reinstated the former
Chief Justice Shirani Bandaranayake on a special cabinet approval,” state-run Independent
Television Network said.
“Therefore the appointment
of Chief Justice Mohan Peiris
will be cancelled and considered
as an illegal appointment.”
“The chief justice was restored and the imposter was
asked to go,” said the official, referring to Mohan Peiris, who was
appointed to the role by former
president Rajapakse.
The Presidential media division said both the removal
of Bandaranayake and the appointment of Peiris were null
and void because the Rajapakse
government had not followed
the
proper
constitutional
procedure.
Sirisena had vowed in his
manifesto for the January 8 elections to restore Bandaranayake,
who was sacked after her judgements went against Rajapakse’s
regime.
But the influential Bar Association of Sri Lanka said that, while
Bandaranayake was pleased her
name has been cleared, she intends to retire from the post yesterday.
“The new government accepted our position all along
that the impeachment process
was never completed,” BASL
chief Upul Jayasuriya also told
reporters.
Bandaranayake herself was
not available for comment, but a
source close to her said the decision to quit was made in the interests of keeping the judiciary
independent.
“A large number of lawyers
defended her (when she was impeached),” the source said.
“If she gets on the bench,
someone could accuse her of
favouring those lawyers who
backed her. She is keen to avoid
such a situation.”
Bandaranayake’s sacking was
widely criticised, with the UN
Human Rights Council calling it an assault on judicial
independence.
She was impeached on charges
of misconduct, including an allegation that she failed to declare
the existence of bank accounts,
which were in fact empty.
But despite a chorus of criticism at home and abroad, Rajapakse appointed Peiris, the
government’s
senior
legal
adviser, as her replacement.
Since Rajapakse’s dramatic
defeat at the elections, Peiris
had been under pressure to stand
down after he was implicated in
an alleged coup attempt to keep
the former leader in power.
There was no comment
from Peiris.
Lawyers, civil society groups demand resignation of Mohan Peiris
Sri Lankan lawyers and civil society
organisations staged a large protest outside
the Supreme Court in Colombo yesterday
to press for the resignation of the island
country’s controversial chief justice.
With slogans saying “Send CJ44 home”,
the protesters demanded the immediate
resignation of Chief Justice Mohan Peiris,
claiming that his appointment was illegal,
Xinhua reported.
The protesters also warned that the
agitation would continue outside the
country’s Supreme Court every morning till
such time that Peiris steps down.
“He was appointed illegally by the former
president. He is also a suspect in the coup
attempt. He has to resign,” one lawyer at the
protest said.
The newly elected Sri Lankan
government also has called for Peiris’s
resignation with the national executive
committee stating that it would take
action against Peiris “soon” if he did not
step down on his own.
The government has been in negotiations
with the chief justice to hand him a
diplomatic posting in order to resolve the
matter amicably after he demanded such a
posting in exchange for his resignation.
The chief justice lodged a complaint with
the police yesterday, alleging that he was
threatened by a group of people including a
western provincial councillor who visited his
home on Tuesday evening.
Police spokesperson Ajith Rohana said that
the chief justice lodged the complaint that
the group including provincial councillor
Azath Sally threatened him and asked him to
resign immediately.
“We will investigate the complaint,” Rohana
said.
However, Sally has denied these allegations.
Peiris has also been under continuous
pressure to resign due to his presence at
the presidential office shortly after the
January 8 presidential election where it is
alleged that the former government was
deliberating on a coup attempt.
Though the previous government has
denied these allegations, the matter is being
investigated after a complaint was lodged
with the criminal investigations department
by the newly elected Maithripala Sirisena
government.
Shirani Bandaranayake arriving at the Supreme Court complex in Colombo yesterday, after new Sri Lankan
President Maithripala Sirisena restored her position saying that her sacking two years ago was illegal.
Take action to stop violence,
Bangladesh PM tells top cops
By Mizan Rahman
Dhaka
P
Family members of missing persons react during a meeting in Colombo. There could be anywhere
between 16,000 and 40,000 missing during the two-and-half-decade war that ended in May 2009.
Lanka’s missing slip
out of the shadows
IRIN
Mannar
S
ix days after the January 8 election, around
300 families of those
still missing as a result of Sri
Lanka’s two-and-half-decade
long civil war attended a prayer
service led by Pope Francis at
the Madhu Shrine in the northwestern district of Mannar.
Some held pictures of missing relatives; others held small
signs calling for justice. But in
a marked departure from the
pattern of recent years, security forces prevented no one
from protesting or entering the
shrine compound.
Uthayachandra Manuel, a
community activist in Mannar who heads the Association of Families Searching for
their Disappeared Relatives,
recalls quite a different reaction from the authorities
during visits by former UN
High Commissioner for Human Rights Navi Pillay and
British Prime Minister David Cameron in August and
November 2013.
“There was a lot of harassment then. People were
stopped from coming out;
police would interview them
and ask them to come to the
station; one or two have been
detained as well,” Manuel
said. Her own activism began
in 2008 when her eldest son
was arrested. He has not been
heard of since.
When Pope Francis visited
Sri Lanka earlier this month,
Manuel and others in her
group were able to hand him
a letter containing the details
of more than 3,300 missing
persons and asking for his assistance in investigating their
disappearance.
“This time no one came to
look for me; no one blocked us
from getting into the church
compound, or holding up pictures of the missing family
members,” she said.
The issue of those still missing after the end of the war
in 2009 has been vexed. A
presidential commission set
up under the previous government has so far received
details of more than 20,000
cases, including at least 5,000
members of the Sri Lankan
defence forces.
The International Committee of the Red Cross has more
than 16,000 cases reported
by relatives of people missing
since 1990. Meanwhile a report
by the UN Secretary-General’s
Advisory Panel on Sri Lanka
said the figure could be as high
as 40,000.
So far there has been no national mechanism to trace or
locate the missing. The previous government indicated
it was willing to consider a
tracing mechanism if recommended by the presidential
commission. It had been expected to hand over its report
by the middle of this year, but it
is unclear whether it will continue to exist under the new
government.
Meanwhile, the new leadership has said that it would be
more co-operative with the UN
Human Rights Council, which
has launched an investigation
into alleged abuses committed during the protracted war
in Sri Lanka. Although new
Foreign Minister Mangala Samaraweera signaled a thawing
of relations with the UN body,
he also said the new government still prefers a national
investigation.
Despite early conciliatory
gestures, the new Sri Lankan
government may find it hard to
gain international acceptance
for such an investigation.
rime Minister Sheikh
Hasina yesterday asked
police to take necessary steps to stop violence unleashed by opposition transport
blockade across Bangladesh.
“I’ll take the responsibility for
whatever happens (for the action). But, you’ll have to ensure
the safety of people and their
property. You’ll take steps whatever necessary against those
burning people and attacking them ... there’s no need to
hesitate,” she said.
The Prime Minister also said,
“In doing so, you must accomplish the task without any hesitation and I give you the liberty.”
Hasina was addressing an
evaluation meeting of senior officials of Bangladesh Police to
mark Police Week 2015.
She said what the opposition BNP and Jamaat have been
committing since January 5 in
the name of strikes and blockade
would never be recognised as a
movement in political history
as these are completely terrorist
and militant acts.
“The way the militants are
committing acts in different
countries of the world, the same
way they (BNP-Jamaat) are now
perpetrating destructive acts
(across the country),” she said.
“I hope, you’ll take stern actions in your respective areas
to curb these terrorist acts after
talking to people, public representatives and law enforcement
agencies like Ansar and Village
Defence Party and Rapid Action
Battalion. You’ll have to unitedly
curb such militant acts with an
iron hand,” she added.
Mentioning that the BNPJamaat had a horrific plan to
destabilise the country, the
prime minister praised the police and intelligence agencies
for thwarting their bid to create
such an unstable situation.
Alleging that the current anarchy unleashed by the BNPJamaat is meant to deter the
economic dynamism and pace
of development, she said the
worst victims of these subversive acts are the common and
hardworking people.
Hasina questioned the BNP
chief whether she, after losing
her beloved son, can feel the
pain of that mother who has lost
her son or whose son suffered
severe burn injuries in petrol
bomb attacks. “Can Khaleda Zia
realise this pain?”
She also called upon police
to discharge their duties with
a strong mindset to establish
the rule of law, protect human
rights, uphold the constitution and protect democracy
alongside protecting the rights
of women and children, elderly
people and religious minorities.
Hasina said the government would modernise the police force by employing latest
technology.
She also assured them of providing necessary vehicles, including speedboats alongside
other equipment, enhancing the
manpower, gradually setting up
newer police barracks as well as
setting up four new police lines
in the capital Dhaka.
Hasina said she has not assumed office to relish power,
rather she believes that it was
her duty and responsibility to ensure the welfare and
betterment of people.
Turning to the ongoing war
crimes trial, she said the trial is
going on properly and this has
to be taken ahead to free the
country from stigma.
She also renewed her pledge
to restore peace in the country,
turn Bangladesh into a middle-
income country well before 2021
and a prosperous developed
one by 2041.
State Minister for Home Affairs Asaduzzaman Khan Kamal
and Home Ministry Senior Secretary Mozammel Haque Khan
spoke on the occasion while Inspector General of Police AKM
Shahidul Haque gave the address
of welcome.
“I’ll take the responsibility for whatever happens (for the action)...”
NURSES PROTEST ARSON ATTACKS: Nurses attending a protest against the ongoing arson attacks
during the blockade violence across the country in front of Dhaka Medical College Hospital in Dhaka
yesterday. Bangladesh’s anti-crime elite force Rapid Action Battalion (RAB) has announced cash reward
ranging from 10,000 taka (about $125) to 100,000 taka ($1,282) to anyone giving information leading to
arrest of arson attackers. The announcements came when the protest of opposition alliance turned violent,
as dozens of people have been killed, mostly in arson attacks.
28
Gulf Times
Thursday, January 29, 2015
COMMENT
Chairman: Abdullah bin Khalifa al-Attiyah
Editor-in-Chief : Darwish S Ahmed
Production Editor: C P Ravindran
P.O.Box 2888
Doha, Qatar
editor@gulf-times.com
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Dubai airport’s might
leapfrogs British gateway
Heathrow has gradually
been losing its high ranking
position in relative terms to
Dubai for years
GULF TIMES
Super Bowl —
from humble origin
to king of US sports
From modest beginnings of cheap tickets and empty
seats to $4.5mn for a 30-second TV ad, the Super Bowl
approaches its golden anniversary entrenched as the
undisputed king of US sporting events.
Super Bowl 49 will pit the Seattle Seahawks against
the New England Patriots in Glendale, Arizona, on
Sunday and figures to join 21 previous Super Bowls
atop the list of most watched US TV broadcasts.
A far cry from the first Super Bowl clash between
the Green Bay Packers and Kansas City Chiefs in 1967,
according to Jerry Izenberg of the (New Jersey) StarLedger, one of only two reporters to have covered the
first ever Super Bowl.
What began as a transition before a merger of the
upstart AFL into the established NFL, the Super
Bowl caught the public’s fancy when quarterback
Joe Namath of the underdog New York Jets of the
AFL guaranteed victory over the Baltimore Colts and
delivered a 16-7 win following the 1968 season.
By the 1970 campaign, the Super Bowl was just
the NFL title game. The Steelers, Browns and Colts
joined AFL teams in
an American Football
Conference to balance
with old NFL teams
in a National Football
Conference, and
winners met in the
Super Bowl.
The game’s popularity
exploded with glamour
teams like the unbeaten
Miami Dolphins, Dallas Cowboys, San Francisco 49ers
and Steelers dominating.
Over time, huge TV ratings led to more creative
commercials to win attention and tickle viewers.
Halftime shows morphed from marching band
entertainment to must-see superstar extravaganzas.
A turning point came in 1992, after a competing
network heavily promoted a special football-themed
episode of a sitcom against the halftime show and
stole substantial ratings.
In 1993, Michael Jackson performed at halftime and
the intermission programme has been star-studded
since.
Ad revenues continue to climb, thanks to social
media.
Twenty years ago, no commercial was ever seen
before the game. There were no sneak peeks that are
all over the place now.
Now every Super Bowl advertiser is using social
media prior to the game and after the game to promote
their brand.
Expect the Super Bowl to continue to evolve.
Robert Boland, a professor at New York University’s
Sports Management programme, said it “has almost
everything that attracts someone who is not a football
fan.”
“It’s really becoming a festival for a week. I’m not
sure we won’t see parties televised with a number of
entertainers and concerts,” said Boland, envisioning a
week-long, pay-per-view bonanza in the future.
Every advertiser
is using social
media prior to
the game and
after the game
to promote their
brand
To Advertise
advr@gulf-times.com
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2014 Gulf Times. All rights reserved
By Updesh Kapur
Doha
T
his week Dubai came out
with a story that sent shivers
through a great British
institution.
For decades, UK Inc has relied
heavily on its premier gateway as the
entry point to a diverse nation.
Welcoming people back home
after an overseas jaunt, migrants
seeking pastures new, those looking
to reunite with friends and family,
individuals planning a holiday break or
simply international business houses
travelling to secure those all important
corporate deals.
London is one of the world’s
primary economic hubs and a tourist
haven.
None of the above will ever change.
But what will is London Heathrow,
now officially no longer the world’s
business international airport in terms
of annual passenger traffic. Dubai has
taken over.
Heathrow had around 68.1mn
international passengers using its
five terminal facility during 2014,
compared with around 70.5mn flying
in and out of Dubai International.
Heathrow in fact saw more overall
number of passengers – 73.4mn –
but 5.3mn of these were domestic
travellers.
Not much difference in
international passenger numbers, but
enough to signal a sign of defeat by
the British airport to its Dubai rival.
For Dubai, seven hours flying time
from Heathrow that is decades older,
to secure top tier status is a feather in
its cap.
Heathrow will continue to attract
passengers in their droves. It is a
premier airport luring virtually all of
the world’s main airlines. The airport
is a British institution.
This week’s news may have sent
shivers through Britain, but certainly
not come as a surprise to observers.
Heathrow has gradually been losing
its high ranking position in relative
terms to Dubai for years. A sharp rise
in annual passenger numbers at Dubai,
with a relatively slow rate of growth
at Heathrow has resulted in the crown
changing hands.
“Britain has benefited from being
home to the world’s largest port or
airport for the last 350 years. But
lack of capacity at Heathrow means
we have inevitably lost our crown to
Dubai,” said a Heathrow spokeswoman
confidently.
“Britain has benefited
from being home to
the world’s largest
port or airport for the
last 350 years”
She went on: “This highlights the
pressing need to get on and expand our
own hub so that we can connect the
whole of the UK to global growth.”
By contrast, Dubai is enjoying the
limelight.
“This historic milestone is the
culmination of over five decades of
double-digit average growth,” said
Dubai Airports chairman Sheikh
Ahmed bin Saeed al-Maktoum. “The
goal is to make Dubai a global centre of
aviation and we are nearing that goal.”
The story behind the stats makes
interesting reading.
Over 60% of Heathrow’s business
is reliant on point to point traffic.
Simply translated, this means
passengers fly in and of Heathrow
as opposed to transiting through the
airport. It’s a business model that
has grown, but so too has Heathrow’s
increasing reliance on transit
passengers between connecting
flights to compete with the likes of
neighbouring European airports, and
indeed Dubai.
Heathrow has had no choice but
to change its model and try to attract
more transfer traffic from different
parts of the world but faces severe
infrastructure constraints.
Dubai International Airport in the 1970s.
The airport is operating at 98%
capacity. There’s little room to
grow. Lack of runway and terminal
infrastructure is preventing further
growth. There are aircraft departures
and arrivals every two minutes at its
two runways for almost 20 hours every
day. A 24-hour operation is ruled out
due to an overnight curfew on aircraft
movements.
Heathrow is currently the subject
of a runway expansion inquiry. Either
Heathrow gets a third runway or
neighbouring London Gatwick secures
the green light for a second airstrip to
help solve the runway crunch in South
East England.
A decision is expected in the
summer but building a new runway
and overcoming any regulatory
obstacles could take years.
For Heathrow, these are nervous
times. Desperate to increase
capacity, yet it faces the onslaught of
protestors opposing its expansion on
environmental grounds and concerns
over mass disruption within the
airport’s vicinity.
By contrast, the transit model is
what Dubai has excelled at, in making
a name for itself. A low home-based
population like Doha and other key
Gulf cities, Dubai has only had a single
vision to fufill its ambitions to become
the world’s busiest airport.
To do this, Dubai has had to market
itself as a tourist hub and with a strong
airport/airline infrastructure at the
crossroads of East and West. It is this
bridge linking cities around the world
through a single hub that has given
rise to Dubai’s fortunes.
Flying times of 18 hours or so
non-stop can connect Dubai with
cities across Europe, the Middle East,
Africa, Indian sub continent, Asia
Pacific and both North and South
America. Dubai International is home
to Emirates, the Middle East’s largest
carrier, which along with Abu Dhabi’s
Etihad and Doha’s Qatar’ Airways,
has seized a significant portion of
travel between the West, Asia and
Australasia.
While both Doha and Abu Dhabi are
recording strong growth, these two
airports are far from close to Dubai’s
figures. The latter will boost its annual
passenger throughput to around 79mn
passengers this year helped by the
opening of a new hall for departures
and arrivals.
As the world’s largest operator of
the biggest aircraft in the skies – the
Airbus A380 superjumbo –with over
50 of these planes currently in its
large fleet, Dubai-based Emirates’
strategy of only flying twin-aisle wide
body commercial jets has been largely
responsible for the surge in Dubai’s
passenger traffic.
Operating multi-frequency daily
flights between Dubai and cities
around the world provides passengers
with greater choice and ease of
connecting rather than face inevitable
congestion and delayed flights within
the sprawling Heathrow experience.
Dubai has its own answer to
congestion knowing very well that its
main international airport does not
have endless growth.
With over 100 of the A380s in the
pipeline, each with a capacity for over
450 passengers, Emirates will have to
eventually move to a new home away
from the constraints at its existing
airport. But this is not seen as a
problem.
Unlike Heathrow, Dubai already has
a sister airport in the wings.
Located 50km away, Al-Maktoum
International’s six runway facility
opened to passenger business in 2013
and will be capable of handling 120mn
travellers when fully operational by
2020.
Incredibly, Dubai’s increase in
passenger numbers last year comes
despite a significant disadvantage
experiencing a fall in the number
of flights taking off in 2014, due to
an 11-week runway refurbishment
project.
It handled one-fifth fewer flights
than London Heathrow last year. But
the average load on each plane landing
or taking off from Dubai was 196,
compared with just 145 on the typical
flight to or from Heathrow. This is
indeed a tale of two airports thousands
of miles apart with London Heathrow
and Dubai handling capacity
constraints in different ways.
One faces potential opposition
to growth while another simply
continues to plough in bigger jets in
preparation for a move to a new home
in the long-term. Heathrow, for sure,
has its work cut out to regain that allimportant crown.
zUpdeshKapur is a PR &
communications professional,
columnist, aviation, hospitality
and travel analyst, social and
entertainment writer. He can be
followed on twitter @updeshkapur
Dubai International Airport today.
German economic prospects brighten
By Andrew McCathie
Berlin/ DPA
T
he German economy has
entered the new year on a
high note, with low prices
and the slump in the value
of the euro helping to brighten
the growth prospects for Europe’s
economic powerhouse.
The government of Chancellor
Angela Merkel yesterday revised up its
2015 growth forecast, to 1.5%, amid
a surge in consumer confidence and
employment.
The latest data stands in sharp
contrast to a few months ago, when
the German economy was on the brink
of recession and the outlook was grim,
in no small part due to the crisis in
Ukraine.
Since then, plummeting oil prices
and the sharp fall in the euro - a direct
consequence of the European Central
Bank’s plan to pump 60bn euros
($68bn) a month into the faltering
eurozone economy - have boosted
optimism about Germany’s economic
prospects.
“The German economy is
continuing along the road to recovery,”
said Commerzbank economist Ralph
Solveen.
“We assume that this upward trend
will continue in the coming months
because of the economic tailwind
resulting from the weaker euro and
cheaper crude oil,” he said.
Analysts predict that data due
to be released today will show
unemployment falling for the fourth
consecutive month in January,
with the recent pickup in hiring
boosting tax revenue and helping the
government balance its budget a year
earlier than expected.
“The German
economy is
continuing along the
road to recovery”
Government plans to spend about
10bn euros over the next four years
on infrastructure development have
added to the more positive economic
outlook.
Germany’s closely-watched Ifo
business confidence indicator rose
for the third consecutive month in
January, reaching its highest level in
six months.
At the same time, German investor
confidence has surged to an 11-month
high, according to a survey released
last week by the Mannheim-based
ZEW institute. Export expectations
are also up, rising for the fourth month
in a row in January.
“The signs of a recovery in the
making have become even stronger
and more unambiguous,” said Andreas
Rees, chief German economist with
UniCredit.
While oil prices have dropped about
50% since the middle of last year, the
euro has slumped to around $1.134. It
was almost $1.40 in May.
“The improved export opportunities
apply to almost all major sectors
of German industry,” said Ifo chief
Hans-Werner Sinn, who noted that
the rebound in the US economy is also
helping drive global trade.
Provoking the fall in the European
common currency is last week’s
announcement by the ECB of a 1tneuro stimulus plan for the 19-member
eurozone.
Despite misgivings from the
German political establishment
about the ECB monetary expansion
programme, the nation’s investors
have celebrated the bank’s plans by
driving the Frankfurt stock market’s
leading DAX index to record highs.
German Economics Minister
Sigmar Gabriel concedes that
German exporters, particularly the
nation’s key small-to-medium sized
businesses, will benefit from the
euro’s drop.
But hanging over the German
economy is the weak demand among
its key eurozone trading partners,
as well as the constant threat of an
escalation of tensions in eastern
Ukraine.
Whatever concerns there may be on
the trade front, the eonomics ministry
has pointed to domestic demand
as a pillar of growth in 2015, with a
2.7-per-cent rise in real wages and
a solid labour market helping drive
consumer spending.
“German consumers have evidently
also been affected by the major
collapse in energy prices over the past
few weeks,” the GfK said as it released
its forward-looking consumer
confidence indicator.
“Reduced costs of fuel and heating
oil are boosting disposable income,
giving consumers greater freedom
for other spending or purchases,” it
said.
The GfK expects the index to hit
its highest level since November
2001 next month, with the institute’s
survey of German household showing
big gains in income and spending
expectations.
Gulf Times
Thursday, January 29, 2015
29
COMMENT
Buzzwords job applicants must avoid
Listing your skills on your
profile makes you 13 times
more likely to be viewed on
LinkedIn
volunteer experience and causes you
support. It can also help you get hired.
Forty one per cent of professionals
surveyed by LinkedIn stated that
when they evaluate candidates, they
consider volunteer work equally as
valuable as paid work experience
zYour skills: Listing your
skills on your profile makes you 13
times more likely to be viewed on
LinkedIn. Your skills are a visual
overview of your professional
P
rofessionals from across the
world will head online in their
droves in January as they
put their career resolutions
into practice, according to research
released by LinkedIn. The insight,
based on the behaviour of LinkedIn’s
more than 300mn global members,
reveals that January 21 has been
the busiest day for New Year career
development on the world’s largest
professional network.
To help people stand out from
the crowd, the site recently
released a list of the 10 most
overused “buzzwords” on LinkedIn
profiles in 2014 - guaranteed to
lose the interest of would-be
employer.
Coming in at the top spot for Qatar
is “motivated”, closely followed
by “extensive experience” and
“dynamic”.
Hiring trends changing in the Mena region
The 2014 buzzwords for Qatar
profiles are:
1) Motivated, 2) Extensive
Experience, 3) Dynamic, 4)
Responsible, 5) Track Record, 6)
Creative, 7) Driven, 8) Organisational,
9) Enthusiastic, 10) Expert
Buzzwords for professionals
from other sectors:
Marketing: Creative, Strategic,
Motivated
Sales: Motivated, Strategic,
Dynamic
HR/Talent: Organisational,
Motivated, Strategic
To aid members in Qatar on their
professional journey, Darain Faraz,
brand – an easy, digestible way to
show what you can do. You’ll want
to include a mix of high level and
niche skills to ensure you show up
in search results and show your
range of talent.
zYour champions: Let
others vouch for you by asking for
recommendations. To get the best
recommendation possible, ask them
to provide specific examples of your
skills and talents.”
LinkedIn spokesperson, recommends
taking some time to think about one’s
professional brand and how “Brand
You” can benefit from giving up
buzzwords.
“January is typically a time for
professionals to explore career
opportunities, since that is a
popular area of focus for New Years’
resolutions,” says the spokesperson.
With these simple updates to your
profile, you can set yourself apart, and
help brand you as the best candidate
for your next opportunity.
zYour Summary: You’ve made the
pledge to rid all buzzwords from your
LinkedIn profile. That’s a great start!
But don’t go to your trusty thesaurus
and replace one buzzword with
another buzzword. Rather, include
examples that illustrate how you’re
motivated. Does your motivation
drive results? Has your motivation
helped champion a program? You
can easily illustrate your motivation
by uploading examples of your work
in your summary that showcase the
results you achieved.
zYour profile photo: Take a
good look at your profile photo.
Does it reflect the professional image
you want to portray? Your profile
photo counts more than you may
know – you’re 14 times more likely
to have your profile viewed if you
include a photo, so make sure the
photo shows your best professional
self.
zYour headline: Don’t bury the
news! Write a strong headline that
makes people want to learn more
about you.
zYour good side: What better
way to show you are a “motivated”
person than by including your
A new survey has revealed that a
staggering 84.1% of respondents
working in HR departments in the
Middle East and North Africa (Mena)
region conduct reference checks prior
to hiring eligible candidates.
The poll, conducted by Bayt.com, one
of the Middle East’s leading job sites,
reveals that online hiring will be more
important than ever before in 2015.
According to 20.2% of those
responsible for hiring talent, online
job sites will be most widely used to
source candidates in 2015.
In parallel, 29.3% of respondents
operating in the field of HR claim that
the recruitment of active candidates
online will become the number one
hiring trend of 2015. On the other
hand, 11.6% state that the recruitment
of passive candidates online is set to
be the leading hiring trend in the next
12 months.
As for the time needed to find a
qualified candidate to appoint, it’s
not very fast; 48% of respondents
responsible for hiring admit that their
company now takes one to three
months to fill a vacant position. Most
employers (32.9%) call up candidates
to notify them about a hiring
decision, with a further 30% notifying
jobseekers via e-mail.
Interestingly,16.1% of respondents
involved in the hiring process say that
the biggest mistake that candidates
make with online recruitment is not
emphasising their skills enough.
For 15.9%, a critical misstep made
by job seekers online is having an
incomplete public profile. The third
most cited critical mistake (according
to 12%) is not having active online
conversations.
To acquire new and important
skills, companies will be helping
professionals in the next year in
acquiring new skills via a combination
of on-the-job experience (13.5%),
formal internal training provided by
the company (21.9%), formal external
training provided by the company
(16.5%) and by shadowing and
observing others (9%).
Additionally, the top three skills most
likely to get jobseekers hired in 2015
include problem-solving/analytical
thinking (18.5%); creativity (14%);
and leadership (13.3%). Fortunately,
73.1% of respondents claim that their
company’s project investment in
training will increase in 2015.
Data for the Bayt.com “Skills and
Hiring Trends in the Mena” poll
was collected online from 5,961
respondents from the UAE, Algeria,
Iraq, Kuwait, Libya, Oman, Qatar,
Tunisia, and Yemen.
Weather report
Letters
Three-day forecast
Expatriates expect
a win-win situation
Dear Sir,
Further to the letters, “Right time
for rules changes” (Gulf Times,
January 25), “Regular updates”
(Gulf Times, January 27) and “Slow
changes” (Gulf Times, January 28),
one feels that things are still not clear
with the progress made on proposals
to change Qatar’s labour rules even
after eight months have passed since
the announcement of plans to reform
the current sponsorship system. Many
expatriate workers have been looking
forward to the time when the changes
will come into effect.
A report in November last year said
Qatar would introduce new legislation
to replace the “kafala” sponsorship
system and improve conditions for
migrant workers by early 2015.
In May last year reports said that
under the new rules, the sponsorship
system would be replaced with one
based on employment contracts
though its actual mechanics were not
explained.
They also said that under the
new legislation, the exit permit that
expatriate workers need to leave
the country would be replaced by a
system that grant them permission
automatically after a three-day
grace period. Again there were no
clarifications on what happens if
someone wants to leave the country in
case of an emergency in his/her home
country. Will the “grace period” apply
in their case also?
But the most important feature
of the reforms, as reported, was
that foreign workers would be able
to change jobs at the end of their
contracts, without the need for the
certificate they currently require from
their previous employers showing they
have no objections. The proposal, as
far as one could make out, was that
those on open-ended contracts would
be entitled to change jobs after five
years.
So it is understandable that
people are expecting an official
announcement on the progress made
so far with the reforms.
The large number of expatriate
workers living here are extremely
grateful to the Qatar government
for its support and concern for their
welfare. They are sure that the final
decision, when they are announced,
will be a win-win situation for both
the the employer and the employee.
RN
(Full name and address supplied)
Exemplary work
by Sheikh Thani
Dear Sir,
TODAY
The Holy Qur’an states: The
likeness of those who spend their
wealth in the way of Allah, is as the
likeness of a grain (of corn); it grows
seven ears, and each ear has a hundred
grains. Allah gives manifold increase
to whom He wills. And Allah is AllSufficient for His creatures’ needs,
All-Knower. 2: 261
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FRIDAY
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Mohamed Aboobakker
Mohd.aboobakker@gmail.com
SATURDAY
Congratulations to Sheikh Thani bin
Abdullah who has received the 2014
Dentons Award in recognition of his
accomplishments, contributions and
global projects in social, humanitarian
and charitable services.
May Almighty Allah grant Sheikh
Thani as well as his family members
longevity, health and the will to
continue with their philanthropic and
charitable activities.
Under the just and flawless
leadership of Sheikh Thani bin
Abdullah, the charitable trust Raf has
been making exemplary progress on
all fronts. Sheikh Thani has always
been at the forefront in extending a
helping hand to the indigent and the
poor among the Muslim communities
at large.
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Live issues
Are my non-stick saucepans a health hazard?
By Luisa Dillner
London
A
s if eating healthily were not
hard enough already, we now
have to consider, once again,
the pans we cook in.
Last week, the US Environmental
Protection Agency (EPA) issued
stricter limitations on the use of
long-chain perfluorinated chemicals
(PFCs), traditionally employed in the
manufacture of non-stick pans.
Perfluorooctanoic acid (PFOA),
linked in laboratory animals to an
increase in tumours of the liver,
pancreas and testicles and reduced
fertility, is one of the chemicals used
in the chain of reactions that makes
the common non-stick surface Teflon.
The EPA says long-chain PFCs
accumulate in people and wildlife and,
while there is less clear evidence of
harm to humans, it does not want to
take chances. The agency has already
told companies to phase out these
chemicals by the end of 2015. Now,
this latest move will restrict their use
in new products in the US. So is it safe
to cook with non-stick pans?
Cookware has often been suspected
of causing health problems. In the
1970s, aluminium was (wrongly)
linked with Alzheimer’s disease,
causing researchers to consider
aluminium pans a risk factor. The
US Alzheimer’s Association now has
aluminium on its myth list – pointing
out that there is not enough evidence
to show that an association exists.
Copper pots cook food evenly, but
unlined pans can cause copper to leach
into food and cause diarrhoea and
sickness. Iron cookware, such as skillets,
can actually have minor health benefits
as they increase the amount of iron in
cooked food (though that’s not so good
if you have a condition where you have
too much iron already). Stainless steel
is both reasonably priced and has no
history of health scares.
However, Teflon, despite its link to
long-chain PFCs, is thought to be safe,
because part of the manufacturing
process involves heating the coating
to high temperatures, which gets rid
of PFOA before the pan reaches the
assembly line. A study published
in the journal Food Additives and
Contaminents tested 26 non-stick
cookware products under extreme
conditions and concluded that none of
them released any noxious chemicals.
What has been reported from Teflon
use is a risk of fumes from overheating
pans, giving people temporary flu-like
symptoms and sickness – known as
polymer-fume fever. These fumes do not
contain any PFOA and are mostly noxious
to pet birds, so if you have a budgie or
parrot, then ventilate your kitchen and
don’t overheat your non-stick pans.
Cook on medium or low heat. If you
have flaking pans, you could swallow
a chip of Teflon, and while it might be
medically OK, why would you want
to? Throw them away. The rest are fine
to keep.- Guardian News and Media
zDr Luisa Dillner heads BMJ Group
Research and Development.
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30
Gulf Times
Thursday, January 29, 2015
QATAR
DFI to celebrate
‘best in world
cinema’ at Katara
C
losely following the 2015
Academy Awards, the
Doha Film Institute (DFI)
will celebrate the best in world
cinema with a special ‘Awards
Season Showcase’ on February 27 and 28 at Katara Cultural
Village.
Presented as part of DFI’s
year-round film screenings
programme, the Awards Season Showcase will feature three
compelling films from Academy
Awards history and one contemporary title. These include the
Hollywood classic Casablanca
(1942) starring Humphrey Bogart and Ingrid Bergman, which
won three Academy Awards;
Ang Lee’s epic martial arts masterpiece Crouching Tiger, Hidden Dragon (2000), which won
the Best Foreign Language Film
Award, and the heart-warming
French drama Les Choristes
(2004), nominated for foreign
language award at the 2004
Golden Globe and Academy
Awards.
Also to be screened is Damien Chazelle’s gripping drama,
Whiplash - 2015 Golden Globe
Winner (Best Supporting Actor,
J K Simmons), 2015 Academy
Award Best Picture nominee
and winner of the Best Filmmaker award at the recent Ajyal
Youth Film Festival in the Bader
category.
Screening attendees will have
the opportunity to experience
their own ‘red carpet’ moment
with an interactive fan zone and
a photo gallery that will illustrate
the captivating history of the
Academy Awards. Pre-screening refreshment will also be
available at the cinema café.
Les Choristes (The Chorus),
directed by Christophe Barratier, charts the transformation
of Pierre, a musical prodigy,
into a veteran conductor. The
film is told through the eyes of
an elderly Pierre (Jacques Perrin), who returns to France and
reminisces his childhood inspirations. It will be screened
at Katara Cultural Village on
February 27, at 4pm.
Whiplash is about an ambitious young drummer who
clashes with his ferocious instructor at a cutthroat music
academy. The teacher ruthlessly
preys upon the youth’s perfectionism driving him to the brink
of insanity in an escalation of
terrifying events. It was chosen by the Doha Film Experi-
ence jurors at the Ajyal Youth
Film Festival 2014 to receive the
Best Filmmaker Award in the
Bader category. Whiplash will be
screened on February 27, at 7pm.
Ang Lee’s Crouching Tiger,
Hidden Dragon is the winner of
Academy Awards for Best Art
Direction, Best Original Score
and Best Cinematography, in addition to the Best Foreign Language Film, and has an ensemble
cast including Chow Yun-fat,
Michelle Yeoh, Zhang Ziyi and
Chang Chen. A fascinating and
action-packed story set during
the Qing Dynasty, the film will be
screened on February 28, at 4pm.
The final film in the ‘Awards
Season Showcase’ is all-time
classic Casablanca, set during
World War II, as an American
expatriate is forced to choose
between his love for a woman
and helping her Czech Resistance leader husband escape the
Vichy-controlled
Moroccan
city of Casablanca to continue
his fight against the Nazis. The
film won Academy Awards for
Outstanding Motion Picture,
Best Screenplay and Best Director. It will be screened on
February 28, at 7pm.
Regular tickets are priced
QR35; student tickets are QR25
on presenting a valid student ID.
Tickets can be purchased online at www.dohafilminstitute.
com starting today or in person
from Box Offices at Building 16,
Drama Theatre on February 24.
A scene from three Academy Awards winner Casablanca (1942).
Heart-warming French drama Les Choristes (2004).
The 2015 Golden Globe winner Whiplash.
Qatar Biobank to engage
60,000 volunteers by 2019
Joseph Varghese
Staff Reporter
Q
Al-Baker and ambassador Youzhen with officials of HIA, UnionPay International, and Qatar Duty Free after
the opening of the Chinese pavilion at HIA yesterday.
Chinese pavilion opens
at Qatar Duty Free
T
he official opening of Qatar Duty Free’s Chinese
pavilion at Hamad International Airport (HIA) took
place yesterday in the presence Chinese ambassador Gao
Youzhen.
Qatar Airways Group chief executive Akbar al-Baker and Qatar Duty Free senior vice president Keith Hunter welcomed the
ambassador to the bespoke built
pavilion, created in honour of
Chinese New Year.
Han Wang, general manager,
UnionPay International Middle East, was present, offering
his support to this innovative promotion by Qatar Duty
Free, which includes a QR100
gift voucher for clients who
make a purchase of QR1,000
or $274 and above, using a
UnionPay payment card.
“This is the first year we have
celebrated Chinese New Year at
our new state-of-the-art airport, and I am proud of what we
have achieved with this luxurious
area, promoted to create a wide
range of gifts for the holidays
in China,” al-Baker said.
The Qatar Duty Free Chinese
New Year pavilion is located behind the iconic teddy bear in the
departures hall of Hamad International Airport. The 180sqm
pavilion will remain at the
airport until the end of February.
“China is an extremely important market for Qatar Duty
Free and every year we try to
go the extra mile by providing
ever more exciting promotions
and activities for our Chinese
customers,” Hunter said.
Special promotions and activities at the Chinese-themed
pavilion inside HIA will continue until February 28. The pavilion offers a variety of activities
and staff dressed in traditional
costume.
At HIA, Qatar Duty Free offers 40,000sqm of combined retail, food and beverage facilities.
There are more than 70 retail
outlets offering a wide selection of designer labels, fashion,
electronics, and gourmet foods
among others.
In addition, more than 30
cafés and restaurants offer a selection of global and local cuisine. The most recently opened
boutiques are: Chopard, Giorgio
Armani, Armani Junior, Coach,
Hugo Boss, Mont Blanc and
Al Motahajiba.
Traffic diversion on North Road near Madinat al-Kabaan
The Public Works Authority (Ashghal)
has announced a traffic diversion from
Saturday onwards on Lehwaila Link
Road, located 200m east of Lehwaila
interchange (Interchange 66) on North
Road in Madinat Al Kaaban.
The diversion will be in place for six
months, Ashghal said in a statement.
The temporary diversion has been
necessitated to carry out construction
work on two bridges over Lehwaila Link
Road which forms part of the Lehwaila
Interchange 66, it said.
The new bridges are being built as part
of the ongoing project to improve North
Road.
Owing to the diversion, Lehwaila Link Road
will be reduced from two lanes to one lane
on each direction and the traffic will be
diverted around the construction area.
atar Biobank, a member of Qatar Foundation, aims to recruit
more than 60,000 participants
by 2019, said a top official
yesterday.
Dr
Hadi
Abderrahim,
managing director of Qatar Biobank, said that Qatar
Biobank is a large-scale, longterm medical research initiative
for the population of Qatar and
as such over the next few years,
“we aim to recruit more than
60,000 Qatari nationals and
long-term residents who have
lived in Qatar for more than 15
years and aged above 18 years of
both genders.”
Dr Abderrahim added: “Qatar Biobank will contribute to
improve healthcare in Qatar
and will lead to personalised
healthcare. The data collected
can help in developing researches on risk factors for the
entire population as well as
providing follow-up for those
factors.”
Working with the Supreme
Council of Health, Hamad
Medical Corporation and Imperial College London, Qatar Biobank supports Qatar
Foundation’s mission to enhance national innovation and
technology through medical
research regarding prevalent
health issues in Qatar.
Those wishing to contribute to Qatar Biobank, can fill
in application form available
on the website of the organisation. Participants have to complete a questionnaire and sign a
consent form agreeing to allow
the tracking and assessment of
their medical history. This contribution involves attending an
assessment session at the Qatar
Biobank clinic that lasts about
three hours.
The assessment session
comprises collection of a series of measurements including
an individual’s height, weight,
blood pressure measure, blood,
urine and saliva samples. The
health information, obtained
from medical records, DNA,
lifestyle, and environmental
exposures, has the potential to
provide further insights into
the management and prevention of debilitating diseases
common in Qatar.
Qatar Biobank will also help
chart a roadmap for future
treatment through personalised medicine by spearheading the Qatar Genome Project,
announced last year by HH
Dr Hadi Abderrahim, managing director, Qatar Biobank.
Sheikha Moza bint Nasser Al
Missned, chairperson of Qatar
Foundation. Genomics, a discipline in genetics that analyses
the structure and function of
genomes, the complete set of
DNA within a single cell of an
organism, is a rapidly emerging
medical discipline.
With 17% of Qatar’s adult
population suffering from type
2 diabetes, it is expected that
the knowledge and information
collected by Qatar Biobank, will
enable scientists to gain unique
insights into the causes of these
diseases, and tailor treatments
matching individual genome
coding within the next few
years.
Biobank acquires space
to expand operations
Q
atar Biobank will start
operating from an additional building in
Medical City from next month.
This will be in addition to the
present facility that it has in the
same location.
Dr
Hadi
Abderrahim,
managing director of Qatar
Biobank, said: “We have a sequence of openings. The new
facility also will be in Medical
City. At present we are operating from Building No.29 and we
will also occupy Building No.17
which is adjacent to our present
building.”
He added: “At present we are
working in two shifts. We need
more staff so that we can increase the number of people we
engage daily. We have to recruit
more staff so that we can speed
up our activities. Our starting
capacity is 50 people per day. We
hope to engage 100 participants
in the coming days.”
The officials also stated that
there will be more clinics with
the addition of the new building. “Now we have only two
clinics. We will add four more
and will have six in total. We
hope to get the Translationary
Research Institute in 2018.”
Qatar Biobank will host a
two-day networking conference in February that will examine the development of
Qatar’s healthcare industry.
“At present we are
operating from
Building No.29 and
we will also occupy
Building No.17 which is
adjacent to our present
building”
Qatar’s inaugural ‘Biobanking in the Content of Personalised Healthcare’ conference
will be held on February 8 and 9
at the Qatar National Conven-
tion Centre. Local and regional
experts along with their international counterparts gather
to discuss the future of medical research and personalised
medicine in Qatar.
Qatar Biobank was also recently awarded two International Organisation for Standardisation (ISO) certifications
by the British Standards Institute Group Middle East (BSI).
The two qualifications - ISO
9001 and ISO 27001 - address
Quality Management Systems and Information Security
Management, which are top
priorities for Qatar Biobank.
Gulf Times
Thursday, January 29, 2015
31
QATAR
Sidra official gets
Irish recognition
Funeral
prayers
F
uneral prayers for Indian
school student, Roshan
Chacko (pictured), will
be held at the Hamad Hospital
mortuary today at 5pm.
Roshan, 15, a Class X student
of MES Indian School died at his
residence on Monday.
He is the son of Chacko K
Samuel, Regional Commercial
Manger of LuLu Group Qatar.
His body will be flown to India
today, after the prayers. The funeral service is scheduled for
3pm on Saturday (Jan 31), at St
Thomas Mar Thoma Church,
Naranammozhy, Ranni, Kerala,
a source close to the family said.
Workshop
on ‘hotlines’
Civil society organisations such as
National Human Rights Committee (NHRC), Qatar Foundation for
Social Protection and Rehabilitation
(QFSPR), Qatar Foundation for
Education, Science and Community
Development and the Polaris Foundation are to jointly hold a training
workshop on “hotlines” at NHRC’s
headquarters from February 1-5 . Participants from NHRC, QFSPR, Qatar
Foundation, Ministry of Information
and Communication Technology, the
Supreme Committee for Delivery and
Legacy (Qatar 2022) and the Family
Consulting Centre will take part. In
a statement, the director of NHRC’s
International Co-operation Department, Sheikha Ghalia al-Thani, said
“the workshop is designed to provide
hotline’s supervisors and operators
with the necessary knowledge and
skills to improve their operations.
S
idra Medical and Research Centre’s
chief nursing officer Dr Mary Boyd
has been awarded the status of Fellow by the Faculty of Nursing and Midwifery of the Royal College of Surgeons
in Ireland (RCSI).
The RCSI is a health sciences institute which focuses on education and
research to drive positive change in all
areas of human health worldwide.
Dr Boyd was awarded the prestigious
fellowship by examination, including
a submission of a portfolio of evidence
and viva, as well as a review of her contributions to nursing in terms of three
key areas: teaching, research and practice. These areas mirror the three pillars
of excellence in patient care, biomedical research and medical education on
which Sidra was founded.
Dr Boyd also lectures students undertaking the Bachelor of Nursing programme at the University of Calgary in
Qatar.
“I am extremely proud to become a
fellow of the RCSI at this exciting time
in my career. The RCSI and Sidra share
a strong commitment to excellence in
clinical practice and recognise the power
of education, training and working together to improve health and healthcare
Dr Mary Boyd: honoured
for people everywhere,” said Dr Boyd.
“At Sidra we are working to transform
the health and wellbeing of the people of
Qatar and the region through the provision of world-class patient care, ground
breaking research as well as educating and training the next generation of
healthcare professionals.”
Before joining Sidra, Dr Boyd held a
number of senior leadership positions
in healthcare in Ireland. She was the
National Strategic Lead for Bed Management and Head of Hospital Liaison
in the Irish Department of Health. In
this capacity, she successfully improved
hospital access and quality of service for
patients and was a major contributor to
Irish healthcare reform.
She has coached and mentored many
of today’s directors of nursing in Ireland
and the development of the profession
of midwifery, children’s nursing and
healthcare management in Ireland, is in
part attributed to Dr Boyd’s leadership in
collaboration with Irish academic institutions.
Sidra’s member of the Office of the
CEO and executive vice chief medical
officer Dr Abdulla al-Kaabi noted Dr
Boyd’s emphasis on education as a key
theme of her leadership at Sidra.
32
Gulf Times
Thursday, January 29, 2015
QATAR
Qatar a favourite destination for
Sri Lankan workers, say officials
Q
atar which hosts about
100,000 Sri Lankan nationals is a favourite destination for workers from the
south Asian country because it
offers “a very attractive workplace and is a peaceful country to
live in,” Sri Lankan government
officials have said.
Of an estimated national population of 20mn, more than a
million Sri Lankans are currently
employed in the GCC countries.
According to Senaka D Abeygoonasekera, Chairman of Sri
Lanka Foreign Employment
Agency at the Ministry of Foreign Employment Promotion and
Welfare, about 300,000 people
leave the country each year to
find jobs abroad.
Abeygoonasekera told Gulf
Times that Qatar is considered
one of the world’s safest countries to live in, which makes it a
top choice for migrants. “Everybody in the world also knows that
Qatar is financially very stable.”
He said Qatar is one of the
leading destinations for Sri
Lankan skilled workers, where
they earn reasonably well and live
happily and safely.
“Also, the law of Qatar that is
applied to foreigners is very fair.
Qatar is a country which has pardoned many times in the past
expats who committed mistakes
due to their lack of knowledge. It
has also rehabilitated workers,”
he said.
Abeygoonasekera said workers whom he has sent to Qatar
had made very little complaints
about the Gulf state.
“The complaints were of a
minor nature, which are mostly
caused by cultural differences.
They can’t change overnight.
One also needs to be patient. So
in that way, the Qatari employers
are great.
“They have a lot of patience
with our workers. They tolerate
and co-operate. This is my personal experience. People who
have worked in Qatar before and
returned to Sri Lanka, say they
would like to again work in Qatar,” he said.
He added that most Qatari
companies were honourable and
didn’t violate the contract of
workers.
Gulf Times
special
Abeygoonasekera put the
number of “accidental” deaths of
Sri Lankan workers in the entire
Gulf region at about 10 to 15 people per month.
Mangala Randeniya, spokesperson for Sri Lanka Bureau of
Foreign Employment (SLBFE),
told Gulf Times that the “overall”
impression of Qatar among Sri
Lankan workers was “positive”.
“Workers sent to Qatar face
very few problems. Workers prefer to go to Qatar, actually, since
it offers a very attractive workplace,” he said.
He added that most Qatarbased employers adhered to the
conditions laid out in the contracts and only very few cases of
violations occurred.
Randeniya said of the estimated 100,000 Sri Lankans in Qatar,
the majority were men employed
in the construction industry
and as salespersons. Many also
worked in the hospitality and
service sector.
Out of the total $6.3bn foreign exchange Sri Lanka earns
through remittances from its
overseas workers, $5bn or about
80% comes from workers in the
GCC region.
Randeniya didn’t give an exact
figure for the remittances from
Qatar, but said: “We observe a
good flow of money from our
workers in Qatar.”
An official of Asian Lanka Establishment Pvt. Ltd, a Colombo-based recruitment company,
told Gulf Times that earlier, the
recruitment process for Qatar
was very protracted since it required a lot of paperwork, including police reports, medical
tests, etc. “But now, it has become easier.”
“Recruitment agents can get
Qatar visas for workers ‘very
easily’ compared with Kuwait or
Bahrain. For Qatar, we require
only the passport copy to start
processing the visa. Also, the job
orders come within two to three
weeks,” the manager, who wanted to stay anonymous, said.
He added that Qatar was
“definitely a good destination”
for recruitment agencies to
send workers. “There are many
good opportunities in Qatar
for recruitment companies like
ours especially because there
is a big demand for workers
Senaka D Abeygoonasekera, Chairman of Sri Lanka Foreign
Employment Agency at the Ministry of Foreign Employment
Promotion and Welfare.
in construction projects. Our
company has good clients in
Qatar,” he added.
The comments were in contrast to the reports that have appeared in a section of the Western media criticising Qatar for
ill-treatment of migrant labourers.
According to the Qatar Central
Bank’s Financial Stability Review
2012, the money sent by all expat
workers through 20 exchange
houses operating in Qatar was to
the tune of QR37bn. Of this 66%
was sent to Asian countries.
The per capita annual remittance by Sri Lankan workers
was above QR10,000, but less
than QR20,000, the QCB report
added.
According to M Faizer Mac-
keen, Secretary of the Association of Licensed Foreign Employment Agencies (ALFEA),
there are 975 manpower recruitment agencies in Sri Lanka that
have been granted licences by
the SLBFE.
“We send 200,000 to 250,000
people every year to the Middle
East, out of which 33% is direct
recruitment and 67% is through
licensed agencies,” he said.
Saudi Arabia employs the
largest number of Sri Lankan
workers in the Gulf region. The
second largest employer is Kuwait, where about 40,000 people were sent in 2013. “But now
the second place is being overtaken by Qatar, which used to
be at number three,” Mackeen
said.
Mangala Randeniya, spokesperson for Sri Lanka Bureau of Foreign
Employment.
M Faizer Mackeen, Secretary of the Association of Licensed Foreign
Employment Agencies.
Telecoms market
revenues reach
QR8.5bn in 2013-14
Q
Dignitaries at the Qatar Turkey 2015 Year of Culture opening reception.
Qatar Turkey 2015 Year of
Culture gets under way
B
uilding on a legacy of connecting people through
cultural exchanges, Qatar Museums officially launched
Qatar Turkey 2015 during a VIP
reception held at the Museum of
Islamic Art on Tuesday evening.
Attendees and speakers included the Qatari Minister of
Culture, Arts and Heritage HE Dr
Hamad bin Abdul Aziz al-Kuwari,
the Turkish Undersecretary of the
Ministry of Culture and Tourism
Professor Ahmet Haluk Dursun,
Qatari Ambassador to Turkey Salem al-Shafi, and Turkish Ambassador to Qatar Ahmet Demirok.
Held under the patronage of
Qatar Museums’ chairperson HE
Sheikha Al Mayassa bint Hamad
bin Khalifa al-Thani, Qatar Turkey 2015 Year of Culture will be
the fourth consecutive Year of
Culture, following Qatar Japan
2012, Qatar UK 2013 and Qatar
Brazil 2014.
It will celebrate the relations between Qatar and Turkey
through cultural partnerships
between Qatari and Turkish organisations, institutions and individuals.
An ensemble of traditional
Turkish instruments set the mood
for the launch event. The delicate
notes of the Turkish Tambur, Ney
and violin delightfully echoed
around the museum, captivating
guests and bringing the sounds of
Turkey to the heart of Doha.
Reflecting on the Years of Culture in general and Qatar Turkey
Turkish musicians performing at Qatar Turkey 2015 Year of Culture
opening reception.
2015 in particular, HE Sheikha Al
Mayassa said culture and art support the realisation of the National Vision.
“I’m excited and proud to celebrate the strong artistic heritage
and links between Qatar and Turkey this year. Doing so will promote mutual understanding and
strengthen our existing ties. It will
also support and inspire the next
generation of cultural audiences
and ideas. I look forward to what
promises to be an incredible year.”
HE Dr Hamad bin Abdul Aziz
al-Kuwari said: “We look forward to this Year of Culture based
on the success of previous years
that will feature cultural events
between the Qatari and Turkish
people. This platform of communication opens many doors in
the cultural, sports and business
arenas, which will in turn open up
long-term relationships between
institutions and individuals in
both countries.”
Professor Dursun described
Doha as the glittering pearl of the
Gulf, with which Turkey has been
enjoying friendly relations for 500
years.
Qatar Turkey Year of Culture
events will be grouped under four
main categories: Art & Culture,
Community & Education, Sport
and Business and Trade.
Ambassador al-Shafi observed
that the relations between Qatar and Turkey are historically
founded on brotherhood, mutual
understanding and respect, based
on the great legacy of shared history and civilisation between the
two peoples.
“We hope that the Qatar Turkey
2015 Year of Culture will highlight
that the strategic nature of cultural activities between the two
nations is not limited to a specific
time frame, but has a continuous legacy that will feed into the
framework of strategic co-operation between the two countries.”
Cultural Diplomacy Project
manager Aisha Ghanem al-Attiya
said that Turkish Qatari relations
were currently witnessing considerable growth and development and both countries enjoy
a high degree of harmony and a
well-established friendship.
“Our goal behind organising
the Years of Culture is paving the
way for cultural exchange though
world-class art exhibitions, individual artists programmes, concerts, cultural festivals and educational workshops.”
“ExxonMobil Qatar and Qatar
Museums share a long-term relationship based on mutual respect
and understanding and we are
proud to provide our support for
yet another of its important initiatives,” said Alistair Routledge,
president and general manager,
ExxonMobil Qatar.
“Qatar Turkey 2015 Year of
Culture will fundamentally lead
to a deeper international understanding of Qatar and its rich
culture, while highlighting it as a
world-class centre for business
and cultural activities. This is
something ExxonMobil fully supports as a committed partner in
Qatar.”
atar’s telecoms market
remains healthy and
dynamic, growing at
a pace that is outperforming
population growth with 2013
revenues increasing by 11%
to reach QR8.5bn in 2013, the
Ministry of Information and
Communications Technology
(ictQATAR) said in its 2013/14
annual report.
Net profits remained stable at
QR1.1bn. Both mobile and fixed
broadband subscriptions have
also grown over the past year,
with the former, in particular,
skyrocketing by 32% to a total
of 1,665,419 mobile broadband
subscriptions in the country, it
said.
“When Qatar’s leadership
began the journey to build a
vibrant ICT sector that would
spearhead the development
of a competitive knowledge
economy nearly a decade ago,
it indeed seemed impossible
to imagine that our ambitious
blueprint for change would
one day come to fruition. But
significant commitment and
investments on the part of the
government and other stakeholders have helped drive real,
meaningful progress in a short
period of time,” said HE the
Minister of Information and
Communications Technology,
Dr Hessa Sultan al-Jaber.
The report showcases the
ministry’s various accomplishments during the past year and
the progress made across the
five strategic thrusts of Qatar’s National ICT Plan 2015
to achieve its goal in building a competitive, global, and
knowledge-based economy and
transforming the country into a
fully connected society.
It said Es’hail 1 was launched
to support expanded broadcast services. Es’hailSat, Qatar
Satellite Company, which received a 25-year operating licence from the government in
2013, has already started to plan
the design and manufacture of
Es’hail 2, which is scheduled to
launch at end-2016. This satellite will further boost broadband delivery, television and
global connectivity.
Establishment of a new Independent Communications Regulatory Authority (CRA) to ensure
continued competition in the
telecoms market and the protection of consumer rights. To that
end, CRA had finalised a new
regulatory framework for quality
of service, and the ratification of
a revised numbering plan.
QNBN, which is tasked with
rolling out a passive fibre optic infrastructure network, had
finalised its three-year strategy, secured major business
wins and signed agreements
with key market players to im-
prove digital connectivity for
tens of thousands of customers
throughout the country.
The strategy will generate
cutting-edge safety measures
that will further safeguard Qatar’s networks and people from
cyber threats and ensure an
open and secure cyberspace.
This comprehensive plan addresses five essential components: safeguarding the nation’s critical infrastructure,
responding to and recovering
from cyber-attacks, establishing the proper legal and regulatory framework for a safe
and vibrant cyberspace with
a robust set of cyber security
and cyber-crime laws, fostering a culture of cyber security
by raising awareness and encouraging information sharing
among government agencies,
businesses, and other institutions, and developing national
cyber security capabilities
through additional education
and training.
In addition to a series of prospective laws aimed at countering cyber-crime currently in
development which include the
Personal Information Privacy
Protection Law - approved by
Qatar’s Cabinet, and now under
review by the legislative committee - that will set privacy
standards for all sectors in the
country.
SCH food inspection
T
he Supreme Council of
Health (SCH) conducted health inspection of
around 91,949 imported cargoes of food products that entered the country last year.
These
included
around
1,548,377,789kg of food products and about 2,50,443kg of
them were rejected, constituting about 0.13% of the total
import. Besides, 272,958,000kg
of such imported cargoes were
destroyed and 777,485kg were
sent back. The approval and
rejection of imported food
items were based on the degree
of compliance with the legal,
technical and health standards
as stipulated in Law No. 8 for
1990, concerning the regulation of human food control,
and the related technical GCC
standards.
SCH health inspectors took
6,909 different samples for lab
tests from these cargoes, 6,392
of these were proven good and
512 were non-compliant for
various reasons, which constitutes about 7.5% of the total
samples tested during 2014.
Abu Samra border post received the largest amount of
imported food cargoes last year
amounting to 784,419,011kg,
followed by Doha Seaport
702,953,338kg, and the airport
with 56,005,440kg.
Abu Samra receives the food
products coming from GCC
and neighbouring countries by
land, while Doha port receives
food cargoes from Europe and
other countries via sea. Sensitive food items and food imported for major restaurants
and hotels usually come by air.
NO REASON | Page 6
DOUBLE WHAMMY | Page 15
Microsoft
loses $35bn
in market cap
Russia unveils
$35bn anti-crisis
plan; silent on cuts
Thursday, January 29, 2015
Rabia II 9, 1436 AH
GROWTH OPPORTUNITIES: Page 2
Shariah
banking
seeks path
through
Iraq strife
GULF TIMES
BUSINESS
Qatar trade surplus
shrinks in December
as exports plunge
By Santhosh V Perumal
Business Reporter
QBA chairman Sheikh Faisal hands over a ‘plaque of recognition’ to Alderman during a luncheon hosted by the QBA. Also in the picture are Sheikh Hamad and Sheikh Dr Khalid.
Qatar offers good investment
opportunities: Lord Mayor
‘Qatar keen on building on £30bn UK assets’
Qatar is keen on investing further by adding
more to its current £30bn investment in the UK,
the British embassy said.
“With a sovereign wealth fund worth $200bn,
Qatar is looking to invest further in the UK in
addition to the £30bn already invested,” the
embassy said in a statement.
The embassy noted that Qatar’s governmentfunded investment in the UK includes stakes
in Sainsbury’s, Heathrow Airport Holdings
(formerly BAA), the London Stock Exchange,
Barclays, the US Embassy building in Grosvenor
Square, and the Shard of Glass development in
the City of London.
Similarly, the embassy said Qatar invested in the
Olympic Park by purchasing the Athletes Village
and the Shell Centre in London in 2011. Qatari
Diar, the direct property investment arm of the
Qatar Investment Authority, opened a London
office in 2010.
In terms of UK investments in Qatar, Shell is the
largest foreign investor followed by Vodafone,
the embassy also said.
“UK businesses have a significant presence in
the financial, business, and legal sectors such
as Barclays, Clyde & Co, EY, Eversheds, HSBC,
KPMG, PwC, RBS, Coutts, SNR Denton, Simmons
& Simmons, and Standard Chartered,” it said.
Likewise, the embassy said the Qatar Science &
Technology Park (QSTP) has several important
collaborations with UK companies and
institutions such as Imperial College London,
Rolls-Royce, and Shell.
In education, Sherborne School opened its
doors in September 2009 as part of Qatar’s
Outstanding Schools Initiative, while University
College London, the first British university to do
so, has a campus inside the Education City.
Other important UK investors in Qatar include
major companies in security, construction,
education, retail, energy, transport, and
infrastructure.
Qatar is the UK’s third largest export market in
the Middle East and North Africa region after
the UAE and Saudi Arabia.
The value of UK goods exported to Qatar
rose from £363mn in 2005 to £1.53bn in 2013,
while UK exports in terms of services were an
additional £649mn in 2013. The majority of
Qatar’s exports to the UK are liquefied natural
gas (LNG). The UK accounts for a third of Qatar’s
exports to the European Union. In 2013, the
embassy said Qatari exports to the UK totalled
£2.8bn.
I
nvestment opportunities in Qatar
have increased due to sizeable development plans the country has
adopted in recent years and its commitment to diversifying away from
hydrocarbons, said the Lord Mayor of
the City of London, Alderman Alan
Yarrow.
He was addressing a luncheon reception arranged in his honour by the Qatari Businessmen Association (QBA).
The Lord Mayor was in Qatar to
strengthen financial and bilateral ties
between Qatar and the UK.
The luncheon, held at the Majlis of
QBA second deputy chairman Sheikh
Dr Khalid bin Thani al-Thani on Tuesday, was also attended by Sheriff of the
City of London Fiona Adler, British
ambassador Nicholas Hopton, among
others.
They were joined by QBA chairman
Sheikh Faisal bin Qassim al-Thani,
QBA board members Sheikh Hamad
bin Faisal al-Thani and Sheikh Mohamed bin Faisal bin Qassim al-Thani,
as well as Sheikh Turki bin Faisal bin
Qassim al-Thani, and Sheikh Jassim
bin Faisal bin Qassim al-Thani.
Other QBA members in attendance
included Salah Mourad, Nabil Abu Issa,
Kyle Whitehill, Saud Omar al-Mana,
Maqbool Habeeb Khalfan, Qatar Exchange CEO Rashid al-Mansoori, and
QBA deputy general manager Sarah
Abdallah.
Sheikh Faisal noted that Qatari-British business relations have strengthened significantly in recent years as a
result of Qatar’s major investment in
the UK.
“Qatar now offers many investment
opportunities around the world as it
enjoys peace and security, in addition
to the ability to develop many new and
modern industries alternative to oil
and gas,” he said.
Sheikh Dr Khalid also expressed
QBA’s “willingness to facilitate the
communication” between the business communities of both countries
and “readiness to co-operate” with the
British private sector to promote economic interaction and trade.
He also revealed that the local private sector’s appetite to invest in the
UK was reflected in the participation
of more than 300 businessmen in the
Qatari-British business forum held in
October 2014 on the sidelines of the
visit of HH the Emir Sheikh Tamim bin
Hamad al-Thani to the UK.
Weak oil prices appears to have had its debilitating effect
on Qatar with its trade surplus shrinking considerably in
December in view of the sharp decline in exports coupled
with robust import growth, according to official figures.
The trade surplus of Qatar, which is fast powering its non-hydrocarbon segments as part of diversification, plummeted
32.8% year-on-year to QR22.75bn with plunging exports of
crude, non-crude and natural gas, according to the Ministry
of Development Planning and Statistics (MDPS) data.
The country’s total exports (valued free-on-board) plunged
21.7% to QR33.84bn as shipments to China, Japan, the UAE
and India fell faster.
The MDPS, in its recent Qatar Economic Outlook 2014-16 Update, had cautioned that a prolonged weakening of oil prices
could pose a key downside risk to the economic outlook.
“The economic outlook for 2014–2016 is still generally favourable, although falling oil prices could be a key downside
external risk if they persist for long,” it said.
Japan continued to be the top destination of Qatar’s exports
in December 2014, followed by South Korea, India, China
and the UAE.
The country’s total exports of domestic products sunk 22.1%
to QR33.21bn in December.
Qatar’s non-crude exports plummeted 66.6% to QR0.82bn;
crude by 41.8% to QR4.48bn and petroleum gases by 17.7%
to QR22.76bn; even as exports of other commodities grew
6% to QR5.15bn.
Petroleum gases and other gaseous hydrocarbons
constituted 68.53% of total exports of domestic products
in December 2014 against 64.83% in the year-ago period;
crude petroleum oils 13.49% (18.03%), non-crude petroleum
oils and bituminous minerals 2.47% (5.72%) and other commodities 15.51% (11.4%).
On export destinations, Japan accounted for 26% of total
exports in December, South Korea 20%, India 13%, China 9%
and the UAE 4%.
Qatar’s exports to China tanked 40.54% to QR2.86bn; Japan
by 39.67% to QR8.67bn; the UAE by 12.94% to QR1.48bn and
India by 7.61% to QR4.37bn, while those to South Korea was
up 4.73% to QR6.86bn during the review period.
The country’s re-exports had fallen 12.2% to QR0.64bn in
December.
Total imports (valued at cost insurance and freight) grew 18.3%
to QR11.1bn in December mainly on a substantial jump in shipments from Germany, the US, Japan, China and the UAE.
The US, China, Germany, the UAE and Japan were among
the top five destinations from where Qatar imported merchandise goods.
The US and China accounted for 11% each of Qatar’s imports
in December, Germany 8% and the UAE and Japan 7% each.
Qatar’s imports from Germany shot up 40.88% to QR0.83bn;
the US by 40% to QR1.26bn; Japan by 31.66% to QR0.76bn;
China by 23.96% to QR1.19bn and the UAE by 22.39% to
QR0.82bn.
Motor cars and vehicles, aircraft spare parts, light vessels, fire floats and other group commodities were mainly
imported by Qatar in December 2014.
The imports of motor cars and other motor vehicles for the
transport of persons expanded 24% to QR1.13bn; aircraft
spare parts by 49.4% to QR0.74bn and other commodities
by 22.9% to QR8.81bn; while those of light vessels, fire floaters and dredgers fell 47.6% to QR0.42bn in December 2014.
Oil slide triggers LNG drop as India demand seen rising
Bloomberg
London
O
il’s slump is set to extend the
biggest drop in liquefied natural gas costs in five years, spurring demand in emerging Asian economies.
LNG prices in Japan, the world’s
biggest buyer of the fuel, will probably
plunge 35% in 2015 and Indian costs
will decline 33%, according to Energy
Aspects Ltd, a London-based consultant. Costs in Asia will this year average
below $10 per million British thermal
units for the first time in four years as
new projects in Australia and the US
boost supply through 2016, Bloomberg
New Energy Finance said.
Most LNG in Asia is linked to crude
costs with a time lag of several months,
so Brent’s 49% drop in the second half
of 2014 hasn’t fully filtered into prices.
Global demand for the gas chilled to
minus 170 degrees Celsius (minus 274
Fahrenheit) will rise 9.8% this year
amid increased imports by India and
Southeast Asia, after climbing 0.5% in
the first nine months of 2014, according to Sanford C Bernstein.
“We are already seeing, at current
prices, renewed interest from Indian
buyers,” Laurent Vivier, vice president for strategy and market analysis
at Total Gas & Power, said on Monday
by e-mail. “There is some flexibility in
the demand as well. When prices fall
to current levels, it creates additional
demand.”
Average LNG prices in Japan fell
17% in December from a year earlier,
the biggest drop since 2009, to $13.68
a million Btu, World Bank data show.
Spot prices dropped from a record in
February amid milder weather and
full storage facilities in northeast Asia,
particularly South Korea, Wood Mackenzie Ltd said in a January 7 report.
Northeast Asia spot cargoes fell 15%
to $7.50 in the week to January 26, according to assessments by World Gas
Intelligence in New York.
China, India and Southeast Asia accounted for 15.5% of global LNG demand last year, up from 12.2% in 2013,
and will be the driving forces of incremental buying by 2020, BNEF said in a
January 5 report. Japan’s share shrank
to 36.7% from a record 37.2%, while
South Korea’s fell to 15.5% from 17.1%.
India, the world’s second mostpopulous country, needs LNG to fill a
gap between increasing demand from
An LNG tanker docks at the terminal of the Haldia Dock Complex, part of the
Kolkata Port Trust, in Haldia, West Bengal, India. The country’s total LNG imports
may increase by 7% to 15mn tonnes this year, rising to 38mn tonnes in 2020,
according to BNEF.
fertiliser producers to power plants
and declining domestic output, according to Bernstein.
The country’s total LNG imports
may increase by 7% to 15mn tonnes
this year, rising to 38mn tonnes in
2020, according to BNEF.
“LNG is a way forward, we are look-
ing at setting up many more terminals,
activating the existing terminals,”
Piyush Goyal, the country’s power
and coal minister, said in a January 23
interview in Davos, Switzerland. “We
hope that in the days to come we will
be able to reignite the gas business in
India.”
LNG under long-term contracts can
cost as much as 90% of crude, with
spot purchases as much as 15% lower,
according to Vitol Group, one of the
biggest independent traders of the
fuel.
Brent, a global benchmark, traded at
$49.14 a barrel, the equivalent of $8.44
a million Btu, yesterday compared with
a high of $115.71 in June amid a global
glut.
India’s domestic energy prices are
regulated, which limits LNG imports
at higher prices. About 42% of its purchases are spot and short-term deals,
according to Petronet LNG Ltd, which
operates two of the country’s four terminals. Gas accounted for 9% of India’s electricity mix last year, while
coal was 60%, according to the nation’s power ministry.
Gas on a delivered basis would probably need to be less than $5 or $6 longer term to compete with coal in India,
David Thomas, Vitol’s head of LNG
trading, said on November 24 in an interview. Pipeline constraints also limit
imports, he said.
LNG prices will average $8.70 a million Btu and $9.10 this year in India and
Japan, respectively, Energy Aspects
said on Tuesday in a report.
China’s natural gas demand will increase 9.3% to 200bn cu m this year,
with LNG and pipeline imports rising 10% to 65bn cu m, China National
Petroleum Corp said in an annual research report yesterday.
While lower LNG prices make the
fuel more affordable for China and India, it’s still more expensive than Chinese coal, Laszlo Varro, head of gas,
coal and power at the International
Energy Agency, said on January 8 in
Beijing.
“If oil prices remain low, say below $75, into the future, this is a huge
change for all Asian LNG importers in
terms of savings,” Leigh Bolton, managing director of Holmwood Consulting Ltd in Surbiton, south of London,
said by e-mail on January 8. “India is
probably the best example, as they are
critically price sensitive against both
domestic gas and also other fuels, such
as naphtha.”
2
Gulf Times
Thursday, January 29, 2015
BUSINESS
Africa next
frontier as
DIB Kenya
bank gets
approval
Bloomberg
Dubai
A teller at the Rafidain Bank speaks to a customer standing outside of the bank in Baghdad (file). About 11% of Iraqis aged 15 years and older have accounts at formal banking institutions, according to World Bank
data, compared with about 60% in the UAE.
Shariah banking seeks
path through Iraqi strife
Bloomberg
Dubai
F
or all the sectarian violence gripping Iraq, Shariah-compliant
banks operating in the nation see
opportunities for growth.
Elaf Islamic Bank, the 14-year-old
Baghdad-based lender, is targeting a
28% increase in profit this year, even
as rival Cihan Bank said its income
dropped last year as militants seized
parts of the country. Iraq’s cabinet approved a draft law on Tuesday regulating the Shariah-compliant banking
industry, which will now move to the
country’s parliament for passage.
Airlines cancelled flights to Baghdad
on Tuesday after a UAE passenger jet
was shot at, highlighting the growing
security threat in a country where Islamic State, the breakaway Al-Qaeda
group, has declared a caliphate. Amid
the strife, at least eight Shariah-compliant lenders are operating, including
Abu Dhabi Islamic Bank, seeking to
tap a population of 36mn that has one
of the lowest penetrations of formal
banking in the Middle East.
“It’s a high-risk market, but at the
same time there’s strong potential,”
Montasser Khelifi, a Dubai-based senior
manager at Quantum Investment Bank,
said by phone on Tuesday. “There is a
huge population, it’s a big country with
important oil resources. But the banking
market is still not developed.”
About 11% of Iraqis aged 15 years and
older have accounts at formal banking
institutions, according to World Bank
data, compared with about 60% in the
UAE.
Elaf expects to increase income to
about $15mn this year from $11.7mn in
2014, according to Manjula Mathew,
the bank’s executive director of research, investments and asset management. Kurdish International Bank’s
profit increased 5% to $36.7mn in 2014,
according to chief executive officer
Bustam al-Janabi.
National Islamic Bank’s net income
rose to $223mn last year from $186mn
a year before, according to Sadeq alShammari, chief executive officer, who
is targeting 11% growth in 2015. Cihan’s
earnings fell 37% to $22.6mn, said deputy CEO Naz Bajger.
Iraq’s Islamic banks are still in their
early phase and “the challenges are
acute, but the opportunities are enormous,” Mohieddine Kronfol, the Dubai-based chief investment officer for
global sukuk and MENA fixed-income
at Franklin Templeton Investments Ltd,
said by phone Tuesday. “We find that
Islamic banks, wherever they operate,
they tend to grow faster than conven-
China Silk-Road promise
tested by Ningxia sukuk
Bloomberg
Shanghai
The Chinese region of Ningxia’s plan for the mainland’s
first sukuk is a test run for Islamic finance, as Beijing’s
efforts to channel capital west to ease poverty and
social unrest fail to boost economic growth.
Ningxia, an autonomous region in northwest China
where a third of the 6.5mn population are Muslim and
per capita economic output is 60% of the national average, may raise as much as $1.5bn selling dollar debt
including Islamic notes, according to a December 25
stock-exchange filing. That follows Hong Kong’s sale of
$1bn of sukuk last year that drew bids for almost five
times the amount on offer.
The land-locked area is taking advantage of an August
rule change allowing Chinese local governments to
raise money directly and will tap a global Shariahcompliant finance industry that Ernst & Young sees
doubling to $3.4tn in assets by 2018. Along with its
western neighbours Qinghai and Tibet, Ningxia saw
economic growth slip by more than a percentage
point in the first nine months of 2014.
“It makes sense for them to pilot a sukuk programme
in Ningxia,” said Ben Simpfendorfer, managing director of Silk Road Associates, a consultancy. “Beijing will
typically run pilots across a wide number of sectors in
a large number of regions,” he said in a December. 30
interview from Hong Kong.
Ningxia, whose economy is reliant on agriculture and
mining, had a per capita gross domestic product of
39,210 yuan ($6,305) in 2013, according to a December
2014 research note by Deutsche Bank. That compares
with $9,800 for China as a whole, US government data
show.
Around a third of Ningxia’s population are from the
predominantly Muslim Hui minority. The region has
ambitions to become a base for the production of halal food and is in discussions with Dubai’s Jebel Ali Free
Zone to become a trade hub connecting northwest
China and the Middle East, according to a December 4
statement on Jebel Ali’s website.
“The region has developed close ties with sukuk investors in the past and is better placed than most Chinese
issuers to tap into the sukuk market,” Jeffrey Kirk,
law firm Appleby Global Group Services Ltd’s head
of Islamic finance, said in a December 31 interview
from his base in the British Virgin Islands. “Whilst this
development will encourage other potential Chinese
sukuk issuers to follow suit, they may find it more challenging to do so.”
A press officer at Ningxia’s finance bureau declined to
comment on the sukuk plan when contacted by phone
on December 30. While Bank of Ningxia Ltd started
a pilot in 2009 to offer Shariah-compliant current
accounts and leasing agreements, it has since stopped
providing such services.
Bank Muamalat Malaysia scrapped a plan to offer
Islamic products at branches of Bank of Shizuishan in
Ningxia after the Chinese lender asked for equity participation from the Southeast Asian bank, Muamalat’s
chief finance officer Peer Mohamed Ibramsha said in a
July 1 e-mail.
“Ningxia’s sukuk is an encouraging step,” Silk Road’s
Simpfendorfer said. “What’s more difficult to test is
what share of the population is really keen on Islamic
banking or investing on the basis of Islamic principles.”
Ningxia and the neighbouring autonomous region
of Xinjiang are home to the largest concentrations of
Muslims in China. At least 50 people were killed and
dozens injured in clashes between Han Chinese and
Muslim Uighurs in Xinjiang in September, according to
Chinese state media.
While no companies or governments from mainland
China have sold sukuk, there have been yuan-denominated Islamic bond sales. Malaysian sovereign
wealth fund Khazanah Nasional sold 500mn yuan of
three-year Shariah-compliant notes at 2.9% in 2011 and
Kuala Lumpur-based telecommunications company
Axiata Group Bhd issued 1bn yuan of two-year sukuk
at 3.75% in 2012. Both bonds have matured.
Hong Kong’s debut sale of dollar sukuk in September
was priced at a 2.005% profit rate and last yielded
1.83%, according to data compiled by Bloomberg.
That contributed to worldwide sales of debt that
comply with the Shariah ban on interest totalling
$46.3bn last year, just shy of a record $46.8bn of
issuance in 2012.
The city’s sukuk sale helped to raise awareness of
Shariah-compliant finance in China, according to Amirali B Nasir, a Hong Kong-based lawyer specialising in
Islamic finance at Nasirs Solicitors.
tional in acquiring market share.”
Iraq’s lenders have been constrained
by the dearth of legislation governing
Islamic banks and advances by Islamic
State, which threaten to drag the country into the worst sectarian conflict
since 2007. The central bank said on
Tuesday it will spend $4.2bn to support
economic activity and create jobs as
the nation also grapples with oil prices
close to the lowest in six years.
The yield on Iraq’s 2028 dollar bond
rose 37 basis points this year to 8.3%.
That compares with a 28 basis-point decline through January 27 to 4.1% in the
average yield of Middle East bonds, according to JPMorgan Chase & Co indexes.
Iraqi Prime Minister Haidar al-Abadi
said this month that the country’s economic recovery isn’t complete and the
fight against Islamic State is far from
over, more than a decade after the fall
of Saddam Hussein.
“The challenges are huge,” he told
Bloomberg TV’s Charlie Rose on January 23. “Our economy cannot sustain
two major spendings. One is to sustain
our society and two is to sustain this
awful war. We need help on this.”
Abu Dhabi Islamic Bank, the secondbiggest Shariah compliant lender in the
UAE, has been operating in Iraq since
2012 and is taking a long-term view of
the country where it sees “great potential,” Nuhad Saliba, head of ADIB
International Banking Group, said by
e-mail on January 13. Cihan Bank said
its outlook improved toward the end of
last year as the US began airstrikes on
Islamic State.
“The last quarter of the year was
better,” Bajger said by phone from Erbil on January 19. “The first half of the
year will be tough, but I can say that it
would not be hard as the third quarter
of 2014.”
Dubai Islamic Bank’s plan to open
a Shariah-compliant arm in Kenya
by year-end may be just the start
for Gulf-based lenders seeking
growth outside home markets.
Dubai Islamic received “in principle approval” from the Kenyan
regulator this month, chief
executive officer Adnan Chilwan
said at a press event in Dubai on
Sunday. The lender still needs
to get its final licence, he said.
Meanwhile Nigeria is educating its population about Islamic
finance, the Bank of Zambia last
month published guidelines for
the industry and Tunisia vowed
to sell its first sukuk in the third
quarter this year.
“We have been seeing more
interest from African countries
for Islamic finance, and Gulf Cooperation Council banks are well
placed to be the ones to meet
the demand,” Montasser Khelifi,
a Dubai-based senior manager
at Quantum Investment Bank,
said by phone on January 25. “If
they’re looking for an unexplored
market, the African markets are
among the first to come to mind.”
Dubai Islamic’s plan shows how
Shariah-compliant lenders in
the six-nation GCC are turning
overseas in a bid to sustain their
growth. About 60% of UAE
residents over 15 years old have
accounts at formal financial
institutions, according to World
Bank data, compared with 42%
in Kenya. The UAE’s population
is about 9.4mn, compared with
about 46mn for Kenya.
Dubai Islamic has made “very
good progress” in Kenya and the
new bank will operate under the
name DIB Kenya, Chilwan said.
The lender will hold 70% of the
bank, with 30% owned by local
partners, he said.
“I don’t think we will see an explosion of these deals, but certainly
there will be a couple of other
banks in the GCC that will try to
expand their presence in Africa.”
Apostolos Bantis, a Dubai-based
credit analyst at Commerzbank,
said by telephone on January 25.
“Primarily they will be from the
UAE and some Qatari banks.”
Bank lending in the UAE may
slow to as little as 6% this year
compared with about 10% in
2014 as oil prices near six-year
lows pushes banks to tighten
credit standards and demand
ebbs, according to S&P.
Record Q4 loss fails to
thwart SEC sukuk rally
Bloomberg
Dubai
T
he biggest quarterly loss
in at least 10 years is failing to thwart a record rally in Saudi Electricity Co bonds
as investors bet on lasting government support.
Yields on the utility’s sukuk
due April 2024 have dropped
to 3.15%, the lowest since they
were sold, even after the stateowned power supplier posted
a fourth-quarter loss of 1.8bn
riyals ($479mn). Two of Saudi
Electricity’s
Shariah-compliant bonds lead gains in the
Gulf Co-operation Council this
month, extending 2014’s top
returns.
The performance reflects
confidence that state backing
for the Riyadh-based company will be sustained in the
face of the lowest oil prices in
almost six years. Saudi Arabia,
the world’s largest oil exporter,
has never issued dollar sukuk,
making securities from the 81%
state-owned utility a proxy for
the sovereign.
“The credit quality of the
company will depend on the
support from the government,
which will continue to remain
strong,” Apostolos Bantis, a
Dubai-based credit analyst at
Commerzbank AG, said by telephone on January 20. “After six
months, if the oil price continues sliding and the sovereigns
in Saudi and in the region start
cutting their budgets, then we
Yields on Saudi Electricity Co’s sukuk due April 2024 have dropped to 3.15%, the lowest
since they were sold, even after the state-owned power supplier posted a fourth-quarter
loss of 1.8bn riyals ($479mn).
may become a bit more cautious.”
Brent slumped by about 15%
so far this year. Saudi Arabia
may post a budget deficit of 11%
of gross domestic product this
year, HSBC Holdings said last
week.
Saudi Electricity’s quarterly
loss was related to contracts to
supply the kingdom’s transport
system and “high consumption” units, according to a January 19 statement to the stock
market.
“A loss beyond forecasts may
have an adverse effect on the
equity, but I don’t see it hav-
ing any material impact on the
debt,” Ahmed Shehada, head
of advisory and institutions at
NBAD Securities in Abu Dhabi,
said by e-mail on January 20.
“It’s a personal favourite, and if
the bond sees a dip due to this
news specifically, I would consider it an opportunity to build
a position.”
The yield on the 2024 notes
fell 36 basis points this year,
compared with a 26 basispoint drop to 4.1% for Middle East sukuk on average,
according to JPMorgan Chase
& Co indexes. Saudi Electricity’s Islamic bonds due in 2044
and 2043 are the region’s best
performing this year, according to data compiled by
Bloomberg.
The utility, which received a
49.4bn-riyal interest-free loan
from the government in March to
fund electricity projects, has the
same AA- rating as the sovereign
at Standard & Poor’s, the fourthhighest investment grade.
“It’s such a high-quality
name,” Robert Hahm, investment manager at Mashreqbank
PSC in Dubai, said by phone on
January 20. “It’s quite important from a strategic perspective.”
Gulf Times
Thursday, January 29, 2015
3
BUSINESS
Qatar shares sustain
gains for 2nd day on
insurance buy interest
By Santhosh V Perumal
Business Reporter
A broker monitors stock prices on a screen at the Saudi Investment Bank in Riyadh. The main Saudi stock index yesterday jumped 2.6% to 8,913 points and trading volume
reached its highest level since last May.
Saudi stocks rally on
as crude pares losses
Reuters
Dubai
S
audi Arabia’s stock market gained
strongly for a second straight day
yesterday as oil prices rebounded
from the day’s lows, reinforcing a growing perception among investors that they
have found a floor.
Brent crude fell early on Tuesday after
an industry report said US crude stocks
rose by the most in two decades last week.
But it had largely recovered and traded
above $49 per barrel by the time the Saudi
bourse closed.
The main Saudi stock index jumped
2.6% to 8,913 points and trading volume
reached its highest level since last May.
The index faces chart resistance at its late
December peak of 8,949 points; any break
would point up to at least resistance on
the 100-day average, now at 9,477 points.
Petrochemicals giant Saudi Basic Industries, the country’s biggest listed firm,
surged 5.1% while its subsidiary Yanbu
National Petrochemical Co (Yansab) rose
its daily 10% limit.
Banks also remained strong and Samba
Financial Group surged 8.9%. Two brokerages, EFG Hermes and Global, identified the stock this week as offering good
value and being well positioned for the
expected US interest rate increase.
Telecommunications operator Zain
Saudi gained 5.6% to 7.40 riyals after its
Kuwaiti parent Zain said it had appointed
advisors to study the potential sale of its
transmitter towers in some of the eight
markets in which it operates.
Separately, Zain Saudi said it had received regulatory approval to cut its cap-
ital for a second time, a move common
in Saudi Arabia to offset accumulated
losses.
Albilad Capital rated Zain Saudi “overweight” on Tuesday with a fair value of
8.50 riyals.
Most other Gulf markets edged up. Kuwait’s index added 0.3% as Zain climbed
1.9% after announcing the potential sale
of towers.
Shares in Gulf Bank jumped 3.4% after
it reported a 10.7% rise in fourth-quarter
net profit to 8.97mn dinars ($30.4mn), according to Reuters calculations, and said
it had recovered from the global financial
crisis.
Oman’s bourse slipped 0.1%, but Bank
Dhofar, the third-largest lender in the
sultanate by assets, gained 1.7% after its
board proposed a 10% cash dividend for
2014 plus a 10% bonus share issue.
Dubai edged up 0.4% on thin news flow,
while Abu Dhabi’s benchmark fell 0.3%,
despite a strong performance by Union
National Bank which surged 5.8%.
The lender posted a 42% rise in fourthquarter net profit on Tuesday, broadly in
line with analysts’ estimates. The bank
also said its board of directors proposed a
cash dividend of 0.25 dirham per share for
2014. That compared with a cash payout
of 0.14 dirham for the previous year, according to Thomson Reuters data.
Egypt’s index edged down 0.8% after
hitting a fresh 6-1/2 closing high of 9,947
points on Tuesday. Shares in EFG Hermes
tumbled 6.3% after it said a subsidiary
would sell up to 37mn shares in it, representing a stake of about 6.5%, to institutional investors.
Elsewhere in the Gulf, Bahrain’s index
rose 0.5% to 1,424 points.
CORPORATE RESULTS
NBAD sees tougher 2015 as oil slides, competition bites
National Bank of Abu Dhabi (NBAD)
is expecting a tougher 2015 as lower
oil prices hit economic growth and
growing competition squeezes profit
margins, the head of the UAE’s largest
lender by assets said yesterday.
NBAD was the latest UAE lender to
post strong fourth-quarter earnings,
beating analyst forecasts with a 27.6%
rise in net profit to 1.37bn dirhams
($373mn), helped by higher fee
income and lower impairments.
But a 60% drop in oil prices since June
has some governments in the Gulf
region forecasting deficits this year,
which is set to curb economic growth.
The International Monetary Fund this
month cut its 2015 gross domestic
product growth forecast for the UAE
by one percentage point to 3.5%.
“Growth rates will not be as great,”
NBAD chief executive Alex Thursby
told reporters, without being more
specific. “Institutions will be chasing a
more limited pie. We will have goodto-average growth and competition
has not shut up.”
The bank profitability has already
been challenged by the impact of
low interest rates on their traditional
lending businesses, compounded by
competition between cash-rich local
banks.
Despite increasing its current and
savings account deposits, which
cost very little to service and which
brings down funding costs, NBAD’s
net interest margin (NIM) declined
0.02 percentage points to 1.96% in the
fourth quarter.
While dependent on market conditions, the pressure on NIMs—the
amount made on lending over the
cost of initially securing funds—was
set to continue, Thursby said.
The US is expected to start raising
interest rates later this year, which
analysts think will see some funds previously placed in emerging markets
return to America.
“There’s possibility liquidity will start
disappearing or reducing in the
second half, particularly in US dollars,”
Thursby said, without specifically
mentioning US policy.
After several quarters of low interest
rates, NBAD has been refocusing its
strategy to earn more from its feepaying business and this income rose
20.8% in the fourth quarter.
But despite continuing strength in
non-interest income in 2015, NBAD will
remain reliant on NIM, Thursby said.
Loan growth in 2015 would be around
“mid-single-digits” next year, he
added. That would put it in line with
the 6% growth achieved in 2014.
FGB
First Gulf Bank, the third-largest lender
in the UAE by assets, beat analysts’
estimates yesterday after posting a
13% rise in fourth-quarter net profit.
It was helped by setting aside significantly less cash for bad loans.
The last major bank in the UAE to
report earnings, it posted the largest
profit figure of any bank in a reporting
period marked by strong growth on
the back of buoyant local economic
conditions.
FGB made a net profit of 1.55bn
dirhams ($422mn) for the three
months ending December 31,
compared with 1.37bn dirhams in the
same period a year ago, it said in a
statement.
Four analysts polled by Reuters earlier
this month forecast an average net
profit of 1.37bn dirhams.
The profit growth was driven by a 68%
year on year decline in provisioning to
177mn dirhams.
Having needed to put aside significant
amounts of cash at the beginning of
the decade to cover the aftermath
of a local real estate bubble bursting
and debt issues at Dubai state-owned
companies, a rebounding local
economy has improved asset quality
to the benefit of all UAE banks.
The big slump in impairments helped
offset flat growth in net interest income in the fourth quarter and a 13%
year on year decline in non-interest
income.
Profit for 2014 was 5.66bn dirhams,
up 18%.
Lending, which constitutes a big part
of net interest income, was up 11% in
2014, but deposits grew by just 2%
over the same time frame.
The Qatar Stock Exchange
witnessed sustained gains for
the second day yesterday and
settled a tad below the 12,000
mark.
Insurance saw the most buying
interests as the 20-stock Qatar
Index (based on price data)
rose 0.5% to 11,980.66 points as
trade volumes grew.
Islamic stocks were seen
gaining much slower in the
bourse, which is, however,
down 2.48% year-to-date.
Foreign institutions continued
to be net buyers in the market,
where real estate, banks and
industrials stocks cornered
about 85% of the total trading
volume.
Market capitalisation rose
0.46%, or about QR3bn, to
QR653.12bn.
The Total Return Index gained
0.5% to 17,869.04 points, the
All Share Index by 0.51% to
3,080.21 points and the Al
Rayan Islamic Index by 0.09%
to 4,055.72 points.
Insurance stocks zoomed
2.69%, followed by industrials
(0.68%), banks and financial
services (0.63%) and transport
(0.16%); whereas consumer
goods shrank 0.46%, telecom
(0.14%) and realty (0.1%).
Major movers included Aamal
Company, Gulf International
Services, Qatar Insurance, QNB,
Commercial Bank, International
Islamic, Masraf Al Rayan, Al
Khaliji, United Development
Company, Mazaya Qatar and
Vodafone Qatar.
However, Barwa, Qatar Islamic
Bank, Qatari Investors Group,
Alijarah Holding and Ooredoo
bucked the trend.
Foreign institutions’ net buying
rose to QR42.52mn against
QR33.77mn the previous day.
Non-Qatari individual investors’
net buying strengthened
to QR4.29mn compared to
QR2.65mn on Tuesday.
Qatari retail investors’ net
profit-booking fell to QR11.25mn
against QR11.47mn on Tuesday.
Domestic institutions’ net
selling surged to QR35.56mn
compared to QR24.95mn the
previous day.
Total trade volume rose 47% to
11.77mn shares, value by 33% to
QR504.42mn and transactions
by 14% to 6,046.
The insurance sector’s trade
volume grew 13-fold to 0.52mn
stocks and value by more than
15-fold to QR43.53mn on an
about-seven-fold rise in deals
to 305.
The real estate sector’s trade
volume more than quadrupled
to 5.53mn equities and
value more than tripled to
QR114.89mn on more-thandoubled transactions to 1,485.
The transport sector’s trade
volume more than doubled to
0.31mn stocks and value more
than tripled to QR14.98mn on a
22% jump in deals to 189.
The industrials sector saw its
trade volume surged 54% to
2mn shares, value by 12% to
QR115mn and transactions by
19% to 1,529.
However, the telecom sector’s
trade volume plummeted 64%
to 0.75mn equities, value by
57% to QR18.66mn and deals by
46% to 489.
The market witnessed a 40%
plunge in the consumer goods
sector’s trade volume to
0.21mn stocks but value rose
17% to QR12.5mn. Transactions
were down 3% to 224.
The banks and financial
services reported a 14%
shrinkage in trade volume
2.44mn shares, while value was
up 3% to QR184.86mn. Deals
tanked 12% to 1,825.
In the debt market, there was
no trading of treasury bills and
government bonds.
The 20-stock Qatar Index yesterday rose 0.5% to
11,980.66 points as trade volumes grew
4
Gulf Times
Thursday, January 29, 2015
BUSINESS
Cheap oil may boost expansion: Emaar Economic City
Reuters
Riyadh
S
audi Arabia’s Emaar the
Economic City (EEC) expects demand for its industrial and residential property
to grow this year as companies
increase investment despite the
plunge of oil prices, a top execu-
Shell signs $11bn deal to
build petrochemicals
plant in Iraqi hub Basra
Royal Dutch Shell has signed
a deal with Iraq worth $11bn
to build a petrochemicals
plant in the southern oil
hub of Basra, Industry
Minister Nasser al-Esawi said
yesterday.
Al-Esawi told a press
conference in Baghdad the
Nibras complex, which is
expected to come on line
within five to six years,
would make Iraq the largest
petrochemical producer in
the Middle East.
“The Nibras complex will be
one of the largest (foreign)
investments (in Iraq) and
the most important in the
petrochemical sector in the
Middle East,” al-Esawi said.
A Shell spokesman told
Reuters Iraq’s cabinet had
authorised the project on
January 13.
“Shell has been working with
the Iraqi ministries of industry
and minerals and jointly
with the ministries of oil and
transport to develop a joint
investment model for a worldscale petrochemical cracker
and derivative complex in the
south of Iraq,” he said.
Shell is one of the main major
oil companies operating
in south of Iraq, operating
the Majnoon oilfield and
leading the Basra Gas
Company joint venture. It
signed a memorandum of
understanding with the
ministry for the Nibras project
in 2012.
“The Nibras complex
will be one of the largest
(foreign) investments
(in Iraq) and the most
important in the
petrochemical sector in
the Middle East”
tive said. Established in 2006,
EEC’s operations are an example of the public-private partnerships which Saudi Arabia
is using in a drive to expand its
industrial base, create jobs for
local citizens and diversify its
economy beyond oil.
The company, a consortium
headed by top Dubai real estate
developer Emaar Properties
and Saudi investors, is building
King Abdullah Economic City, a
special economic zone on Saudi
Arabia’s Red Sea coast near Jeddah. The zone, focused on light
industry and shipping, is projected to be the size of Washington DC when completed, hosting
up to 2mn people.
The tumble of global oil prices since last June is prompting
Saudi Arabia to postpone some
energy-related projects, state
oil giant Saudi Aramco said this
week. But Fahd al-Rasheed,
EEC’s group chief executive, said
he expected no slowdown in his
business.
“We actually expect in 2015
that the market for our product,
for manufacturers is going to
increase. As you know, a lower
(oil) price means global growth,
as companies have growth markets in the US and elsewhere,” he
said in an interview. “So we expect more liquidity, hence more
investments in the kingdom,”
al-Rasheed added, noting that
Saudi government spending related to his and other projects
was continuing.
The government has projected
a slight increase in nominal state
spending in its 2015 budget, saying it will use its huge fiscal reserves to fund a deficit while oil
prices are low.
EEC reported a 39% jump
in net profit to 379.7mn riyals ($101.2mn) for 2014 as gross
profit climbed 3.3%. Al-Rasheed
said the company did not forecast earnings “but we certainly
expect growth over the future.”
The company will focus this
year on expanding its port and
industrial area, attracting more
retail and commercial investors to the city, and developing
an area around a high-speed
rail line, now under construction, that will link King Abdullah Economic City with Makkah,
Medina and Jeddah.
Egypt economic growth
next year seen at 5.5%
Bloomberg
Cairo
E
gypt’s Finance Minister Hany
Kadry Dimian said economic
growth will accelerate to as much
as 5.5% next fiscal year as the country
pushes ahead with structural reforms
to try to revive confidence in its battered economy.
Dimian said expansion may reach 5%
to 5.5% in the year ending in June 2016
after growth “north of 4%” this year.
The forecast compares with a 4.2%
average of eight economist estimates
compiled by Bloomberg.
“Things are progressing and we have
some concrete indicators that we can
measure,” Dimian said in an interview
in his office in Cairo on Tuesday, noting
a rebound in manufacturing, upward
revisions by ratings agencies such as
Fitch and the sharp drop in the cost of
insuring Egypt’s debt. “Our main mission is to bring back confidence.”
The upheaval following the 2011
ouster of former president Hosni Mubarak left Egypt’s economy stuck in its
deepest slump in two decades. Successive governments have struggled to
entice foreign investors to return amid
near daily protests and violence. President Abdel-Fattah El-Sisi has set his
focus on restoring security and stabilising the economy, goals that human
rights groups and activists say have entailed curbing freedoms.
Signs of recovery are emerging.
The benchmark EGX 30 stock index
has surged almost 40% in the past
12 months. Fitch Ratings upgraded
Egypt’s credit rating on December 19
to B from B- and Moody’s Investors
Service had earlier revised its outlook
for the economy to stable from negative. Both still see Egypt’s rating firmly
in junk status.
Egypt’s five-year credit default
swaps, contracts used to protect debt
against non-payment, fell to 285 basis
points yesterday from a record 925 basis
points on the eve of the military’s ouster
Customers browse clothing in a Marks & Spencer store on the outskirts of Cairo (file). The upheaval following the 2011 ouster of former president Hosni Mubarak left
Egypt’s economy stuck in its deepest slump in two decades.
of the Islamists from power in July 2013,
according to data provider CMA.
To help economic growth, the central
bank cut the benchmark interest rate by
half a percentage point and allowed the
Egyptian pound to decline to a record
low against the US dollar. The move
was partly aimed at ending blackmarket trading by the end of the year to
help restore investor confidence ahead
of an economic summit in March.
Earlier setbacks helped draw down
international reserves to around
$15.3bn by the end of December compared with more than $36bn four years
earlier.
The nation has relied on assistance
from such oil-rich Gulf nations as Sau-
di Arabia, the UAE and Kuwait, receiving $16.6bn in grants, deposits and fuel
in the year ending last June. That aid
totalled about $1.8bn so far this fiscal
year, Dimian said.
The government used the “generous” Gulf aid “to close a residual gap,
but not to boost the economy or not to
have it as the main pillar standing underneath the economy,” he said. “Our
economy is going to be stabilised and
progressing based on structural reforms - real ones.”
Changes such as cuts in energy subsidies, the introduction of smart card
systems to better administer the rationing of food subsidies and broadening the tax base are key to bringing
down the budget deficit from projections of 10.2% to 10.5% for the current
fiscal year to 8% to 8.5% in fiscal 20182019, he said.
In tandem with the collapse in oil
prices, the reforms may help the government reallocate funds to long-neglected sectors such as health, he said.
The government is constitutionally
mandated to allocate 10% of gross domestic product to investing in human
capital and providing services to the
nation’s more than 90mn citizens.
“That will require vast amount of resources to inject” that will partially eat
away at “the fiscal impact of reforms we
intend to do over the medium term,” he
said. However, it’s “an essential part of
Zain may sell some
transmitter towers
Reuters
Dubai
K
uwaiti telecom operator
Zain has appointed advisers
to study the potential sale
of its transmitter towers in some of
the eight markets in which it operates, the company said yesterday.
Zain owns controlling stakes in
mobile companies in Kuwait, Iraq,
Sudan, South Sudan, Bahrain and
Jordan, plus 37% of Saudi Arabia’s
No 3 operator Zain Saudi, and also
has a management contract to run
Lebanon’s Touch.
“We have appointed advisers
to advise us on the best business
model for Zain, whether it’s tower
sharing or sale and leaseback of
towers across some of our operations,” Zain said in an e-mailed
statement.
“It’s early stages. To date, there
is no final decision on whether we
will sell or form a tower company in
any of our operations.”
A source familiar with the matter told Reuters Citigroup had been
hired to look into options for Zain’s
towers.
Zain’s statement follows a
Bloomberg report that the operator had hired the US bank to work
on the sale of its towers in Kuwait
and Saudi Arabia, citing unidentified sources.
Selling towers or sale-andlease-back deals allow operators
Zain owns controlling stakes in mobile companies in Kuwait,
Iraq, Sudan, South Sudan, Bahrain and Jordan, plus 37%
of Saudi Arabia’s No 3 operator Zain Saudi, and also has a
management contract to run Lebanon’s Touch
to reduce capital expenditure and
duplication of resources as well as
freeing up cash to focus on marketing and promotions, which are increasingly decisive in wooing customers as network quality becomes
uniform.
Such deals are common in Africa, Europe and other regions, but
rare in the Middle East.
Zain declined to specify which
of its operations were most favourable to some sort of tower deal.
“Partnering in a newly formed
tower sharing company or selling
networks to enhance cash positions and then leasing them back
are several considerations that
Zain, like many other operators
across the region, has been deliberating for several years now,” Zain
said. “Each particular Zain operation is unique and either of the two
models may be adapted according
to what best serves Zain from both
a financial point of view.”
our economic programme, which aims
to achieve inclusive growth,” he said.
The finance minister, who had been
heading Egypt’s talks with the International Monetary Fund for a $4.8bn loan
bid, said the government is “open to all
venues and all the alternatives that will
be available to fund our financing debt.”
The country, however, wasn’t going to
the IMF now for money, he said
The government plans a $1.5bn international bond issuance in the coming three to four months, he said, although no details have yet been set in
terms of maturity or terms. Dimian said
he prefers two maturities, although the
market conditions will be the determining factor.
Vodacom, Bharti said
to bid for Etisalat’s
Zantel unit stake
Emirates Telecommunications
Corp, the UAE’s largest phone
company by market value,
received offers from Vodacom
Group Ltd and Bharti Airtel
Ltd to acquire its controlling
stake in Zanzibar Telecom
Ltd, according to three people
with knowledge of the matter,
Bloomberg reported.
The Zantel unit, which is
Tanzania’s largest Internet
provider and is 65% owned
by Etisalat, has a valuation of
about $300mn, said one of
the people, who declined to
be identified because the talks
are private. Dar es Salaambased Zantel also attracted a
bid from Millicom International
Cellular SA, the person said.
Representatives for Vodacom’s
controlling shareholder
Vodafone Group, New Delhibased Bharti, Luxembourgbased Millicom and Abu
Dhabi-based Etisalat declined
to comment. Zantel would give
a buyer access to spectrum in
Tanzania, helping it cope with
growing demand for mobile
data. About 57% of people
in Tanzania had wireless
access in 2012, compared
with a ratio of more than
71% in neighbouring Kenya,
according to data compiled
by Bloomberg. In South Africa
there are more mobile-phone
accounts than people.
Vodacom is Tanzania’s largest
wireless carrier with 11.3mn
subscribers, while Zantel ranks
fourth with 1.8mn users as of
September, according to the
country’s communications
regulator.
Gulf Times
Thursday, January 29, 2015
5
BUSINESS
China planning to set 2015
growth target around 7%
Reuters
Beijing
C
hina plans to cut its growth
target to around 7% in 2015, its
lowest goal in 11 years, sources
said, as policymakers try to manage slowing growth, job creation and
pursuing reforms intended to make
the economy more driven by market
forces.
The growth target, which is set to
be announced by Premier Li Keqiang
at the annual parliament session in
March, was endorsed by top party
leaders and policymakers at a closeddoor Central Economic Conference
in December, said a number of people with knowledge of the outcome of
meeting who spoke to Reuters.
The target, which is in line with
market expectations, has not been previously reported.
“This year’s economic growth target
will be around 7%, but the 7% should
be the bottom line,” said one of the
sources, an influential economist who
advises the government.
“The government will have to balance economic growth, employment
and structural reforms this year,” said
the economist, who requested anonymity due to the sensitivity of the
matter.
The use of “around” to qualify the
growth forecast repeats terminology
used last year by authorities to show
they were not fixed on a hard target.
Although the target was endorsed in
December, it is still possible for it to
be adjusted before the parliament convenes.The State Council Information
Office, the public relations arm of the
government, had no comment on the
growth forecast when contacted by
Reuters.
Officials have said slowing growth
reflects reforms to put the economy on
a more sustainable path, but they are
wary of a sharp slowdown that could
cause job losses and debt defaults.
China’s pursuit of rapid growth in re-
cent decades has helped fuel overinvestment in some sectors and a sharp
build-up of debt by local governments.
Almost $7tn was wasted on ineffective
investment since 2009, a government
official and economist said last year.
Central Bank Governor Zhou Xiaochuan has acknowledged a lower
growth target was on the cards for
2015, saying it would be discussed by
the parliament in March.
The government is also looking
at lowering its forecast for consum-
er price inflation to around 3%, the
sources said.
Consumer prices rose 2% in 2014,
coming in well below a target of 3.5%
as deflation fears intensified, while
producer prices have been falling for
almost three years.
“Fighting deflation could be the
top priority in the near term, but that
won’t contradict with structural adjustments,” said another source, who is
a senior economist at a well-connected think-tank in Beijing.
The last time China set its national
growth target at 7% was in 2004, when
the economy actually grew 10.1%. The
growth target was 7.5% last year.
Data last week showed growth in
the world’s second-largest economy
plumbed a 24-year low of 7.4% in 2014,
and a Reuters poll of more than 40
economists found growth was expected to slow to 7% this year and 6.8% in
2016.
Some local governments have already lowered their growth targets
for this year, often after significantly
undershooting their 2014 goals, and
Shanghai said it would not even set a
growth target because its focus was on
reforms and developing a free-trade
zone. Fifteen of 17 regions, provinces
and municipalities, including Beijing,
that have released local growth plans
for 2015 have cut their GDP targets by
between half a percentage point to 2.5
percentage points from last year, local
media reports and government websites showed.
Thai central bank holds interest rates
Reuters
Bangkok
T
hailand’s central bank yesterday
left its benchmark interest rate
unchanged at 2%, a level that
still “supports” a struggling economy
that it asserted is improving.
The rate hold was expected by 16 of
20 economists in a Reuters poll. But
a recent wave of monetary easing in
the face of disinflation, including an
unexpected move by Singapore early
yesterday, created some uncertainty
about the Thai decision.
At its first meeting of the year, the
monetary policy committee voted 5-2
to hold the one-day repurchase rate.
The last meeting, on December 17, had
an identical vote.
Thailand’s junta, which took power
in May, has been struggling to get the
economy back on track as the country’s two main growth engines - exports and domestic demand - have
not been firing well.
The 2014 growth rate will be announced on February 16 by the state
planning agency. The central bank
forecast only 0.8%, the weakest since
flood-hit 2011.
Last Friday, Finance Minister Sommai Phasee said the decision belonged
to the Bank of Thailand (BOT), but he
felt there “must” be an interest rate
cut to help the sputtering economy.
After yesterday’s meeting, the
BOT said the economy improved in
the fourth quarter of 2014, and that
it expects annual growth in JanuaryMarch – when there was a contraction
a year earlier – will be more than 4%.
The central bank said it would not
use interest rates to handle capital
movements, showing it sees rates as
a less effective tool in managing fund
movements.
The BOT said the two committee
members wanting to cut rates cited
higher global economy risks, low in-
flation – it was only 0.6% in December – and “long implementation lag of
fiscal stimulus.”
In the past, the central bank has
urged the government to speed up
spending.
The central bank said inflation
might fall below its new target but did
not see deflation.
The policy rate has been held since
March, when there was a 25 basispoint cut amid rising political tension. The army seized power in May in
a bid to restore order.
Although the May coup restored
some confidence, domestic consumption has remained subdued,
curbed by record-high household
debt, and government spending has
been slow.
Faraz Syed, senior economist for
Moody’s Analytics in Sydney, said the
BOT “is hoping that fiscal stimulus
would buttress demand in 2015, however we are yet to see the government
provide any details on when this will
occur”.
Krystal Tan, economist with Capital Economics in Singapore, predicted
the BOT will keep rates on hold “for
at least the next couple of months to
monitor the impact on the economy
of the government’s fiscal stimulus
measures before making a move”.
Skymark
Airlines
files for
bankruptcy
AFP
Tokyo
Japan’s Skymark Airlines is
filing for bankruptcy protection,
reports said yesterday, as
the struggling carrier faces
potentially massive penalties
over a cancelled $2.2bn jet
order with Airbus.
The leading Nikkei business
daily and public broadcaster
NHK reported the bankruptcy
filing, which comes less
than a month after Japan’s
third-biggest airline said the
European aircraft maker was
planning to sue it over the
collapsed deal.
Calls to Skymark’s
headquarters were not
answered yesterday and
the airline did not release a
statement about the reported
filing.
The Nikkei said company
executives would hold an
emergency board meeting
yesterday night before filing for
bankruptcy protection with the
Tokyo District Court.
Company president Shinichi
Nishikubo – who flatly rejected
an Airbus call to merge with a
larger rival after their dispute
was made public in July – was
expected to resign, the Nikkei
said.
The carrier would continue
operating for the time being,
it added.
Skymark has debts topping
$850mn, including possible
compensation costs of as
much as $700mn linked to the
axed Airbus deal, the Nikkei
said, without citing sources.
Earlier this month Japan’s Asahi
newspaper said talks about
rival All Nippon Airways (ANA)
investing in Skymark had fallen
apart, and that the loss-making
carrier would try to climb out
of the red on its own.
Skymark rejected that report
but said it was talking with
ANA and Japan Airlines about
code-sharing, as well as with
domestic and overseas funds
over a possible investment
deal.
The carrier has struggled
because of fierce competition
in the airline sector, and its
woes deepened after the
Airbus affair made headlines
last summer.
Skymark’s Tokyo-listed shares
lost about half their value after
Airbus cancelled the order for
six A380 jets, signed in 2011,
apparently over concerns it
would not get paid.
At the time Skymark accused
Airbus of threatening it with
“overpriced” penalties.
Skymark, which has about
2,200 employees, was born
out of deregulation measures
in the 1990s that were aimed
at challenging ANA and JAL’s
control of the market.
Rajan ranges far from monetary policy to shape India’s debates
Bloomberg
New Delhi
I
Rajan: Focusing on shoring up the rupee.
ndian central bank Governor Raghuram Rajan has plenty of ideas on
how Prime Minister Narendra Modi
should boost economic growth, and
he’s not afraid to share them.
Since Modi won elections in May,
Rajan has criticised the nations’ tycoons, called for direct cash transfers
to the poor, urged deregulation of diesel
prices and advised against subsidising
exports as part of “Make in India,” the
prime minister’s flagship plan to boost
local manufacturing.
“Rajan is effectively using his position as RBI governor as a bully pulpit
to advocate for a broad range of macroeconomic, structural, and governance
reforms,” Eswar Prasad, who teaches
economics at Cornell University in Ithaca, New York, said in an e-mail, referring to the Reserve Bank of India, the
central bank’s formal name.
Rajan’s outspoken approach, which
contrasts with that of predecessors
groomed in the Indian civil service, is
testing the limits of his autonomy in a
country where the central bank is not
formally independent. His comments
have variably been in sync with Modi’s plans or perceived as unnecessary
meddling, leading to some criticism
from other economists.
“The central bank should stick to
its area of expertise, that of monetary
policy and banking regulation,” said
NR Bhanumurthy, an economist at
the government-funded National In-
stitute of Public Finance and Policy
in New Delhi. “‘Make in India’ isn’t in
his domain or territory and he should
avoid commenting.” The central bank’s
spokeswoman Alpana Killawala declined to comment on Rajan’s strategy
in giving public comments or their impact. Indian Finance Ministry spokesman DS Malik didn’t answer two calls
to his mobile phone.
Rajan, a former International Monetary Fund chief economist whose credentials include his anticipation of a
global crisis before the 2008 meltdown,
took over the central bank in September
2013. He immediately focused on shoring
up the rupee from an all-time low with
measures including higher interest rates.
He made clear his intent to stem price
increases and proposed that the government adopt a formal inflation target.
In December, Rajan resisted calls
from Finance Minister Arun Jaitley
and other Modi cabinet officials to cut
the benchmark interest rate even as
inflation eased in line with falling global oil prices. He relented this month
in an unscheduled decision after data
showed that price increases remained
below his target of 6% for January 2016.
“He has rebuilt the central bank’s
credibility,” Shilan Shah, an economist at Capital Economics in London
who leads the research group’s India
publication, said of Rajan. “That goes
beyond simply cutting rates at nonscheduled meetings; I think he’ll be
able to frame the debate more generally as well.” Rajan was appointed to a
three-year term by the previous government, eight months before it was
voted out of office. Modi, who in May
won the biggest Indian mandate in 30
years after promising to jumpstart the
economy, will decide whether to extend his term by two years or find a
replacement.
While Rajan’s predecessor, Duvvuri
Subbarao, also gave recommendations
to the government, they were largely
contained to the central bank’s rate reviews and focused mostly on fiscal consolidation. The 1934 Reserve Bank of
India Act says the federal government
may give direction to the central bank
on what it considers the public interest.
Rajan is certainly taking a bolder approach than most of his predecessors in
pushing for change and reforms in areas
that are not directly under the purview of
the RBI,” said Cornell University’s Prasad, who co-wrote papers with Rajan.
In an August speech targeting “crony capitalism,” Rajan recommended
cash transfers into bank accounts as a
way “of liberating the poor from dependency on indifferently delivered
public services, and thus indirectly
from the venal but effective politician.”
A month later, he called on Modi to
eliminate diesel subsidies as global oil
prices plunged.
A November lecture on credit ended in a plea for a “change in mindset,
where the wilful or non-cooperative
defaulter is not lionized as a captain of
industry, but justly chastised as a freeloader on the hardworking people of
this country.” Those speeches aligned
with Modi’s mandate to tackle corruption and improve governance. Modi has
expanded the use of biometric identity
cards to help facilitate cash transfers
and scrapped diesel price controls in
October. Jaitley this month echoed Rajan’s comments on empowering staterun banks.
“In areas related to RBI like banking reforms, he is having an influence,”
Prasanna Ananthasubramanian, chief
economist at ICICI Securities Primary
Dealership in Mumbai, said by phone.
In other areas, however, “it’s hard to
tell.” In December, Rajan gave his most
controversial speech.
Titled “Make in India, Largely for
India,” it was focused on Modi’s signature “Make in India” initiative, a plan to
boost the share of manufacturing in the
economy to 25% by 2022 from 16%.
Rajan cautioned against a Chinastyle, export-led plan that would leave
India contending with export champions at a time of weak global demand.
He advised producing for local consumption instead, and avoiding any tax
sops for specific sectors.
When Jaitley said later that month
that it didn’t matter whether “Make
in India” was for domestic or foreign
consumers, many newspapers said he
was rejecting Rajan’s advice. They also
saw Jaitley’s reference to high costs of
capital hampering manufacturing as a
signal to Rajan to lower rates.
Jaitley issued a statement accusing
the media of bias, saying his speech
contained no references to Rajan or the
central bank. At the World Economic
Forum in Davos on January 22, Jaitley
said India would’ve matched China’s
manufacturing prowess if it had adopted some Chinese policies.
6
Gulf Times
Thursday, January 29, 2015
BUSINESS
SGX hopes
Southeast
Asia will
copy new
China
stock link
Reuters
Singapore
Singapore Exchange’s chief
executive said yesterday
he is looking to emulate
the much-heralded Stock
Connect link between Hong
Kong and Shanghai by
formally linking together
Southeast Asian bourses.
With a plan already in the
works to form a stock trading
link with Taiwan later this
year, Magnus Bocker told
Reuters that establishing
direct connections between
exchanges has replaced
mergers and acquisitions as
the industry’s main growth
strategy, particularly in Asia.
He wants a fledgling link
between stock broking
houses in Singapore,
Malaysia and Thailand,
known as the Association
of Southeast Asian Nations
(Asean) Trading Link,
to evolve into a formal
connection between the
region’s exchanges.
“I’m optimistic that out of
that Asean Trading Link,
with what’s going on in
linking up markets, that
hopefully within a couple
of years we can link Asean
closer together between
the exchanges, the clearing
houses,” he said.
The November launch of
the landmark Stock Connect
trading platform between
Hong Kong and Shanghai
has, despite some technical
problems, been hailed as a
major step forward in the
opening up of China’s capital
markets.
The launch has spurred other
exchanges including Taiwan
and Shenzhen to look at
such connections, hoping
to make cross-border share
trading easier and improve
market liquidity. Developing
such a link in Southeast Asia
will be tough though. Asean
is notorious for its slow
progress on joint initiatives,
and the current trading link
between broking houses that
was established in 2012 has
so far seen low volumes.
“We are not there yet but with
the other links coming, I think
it will enable us to do it in an
Asean context,” Bocker said.
Joining Stock Connect or
forming a strong separate
Asean trading link would
provide an impetus to
Singapore’s beleaguered
securities market.
While Singapore is the
number one venue in Asia
for foreign exchange and
has seen strong growth
in derivatives trading, the
average value of shares
traded on its exchange
each day is now less than
that of Thailand’s and trails
far behind Hong Kong and
Tokyo.
Microsoft loses $35bn
in market capitalisation
Reuters
Seattle
I
nvestors wiped $35bn off Microsoft Corp’s market value on Tuesday without any clear-cut, single
explanation.
The world’s largest software company, whose shares had climbed about
30% over the past 12 months to near
15-year highs, instead worried investors
with a series of troubling signals in its
earnings report and conference call on
Monday.
“The results weren’t that bad,” said
Scott Kessler, an analyst at Standard &
Poor’s Capital IQ. “What really struck
people was that it wasn’t just one thing
and it wasn’t just a handful of things
that had obvious or easy fixes.”
The panoply of Microsoft’s problems included an unexpectedly soggy
PC market after a buying rush sparked
by the end of Windows XP, an ongoing
dip in companies’ spending on Office
software, problems in Japan and China
and a strong US dollar eating away at
the value of its huge overseas revenues.
Investors were aware of most of those
issues before Monday, but the combination of concerns pushed Microsoft’s
stock down 9.25% to $42.66, its biggest
one day fall since Chief Executive Satya
Nadella took over last February.
Until Tuesday, Nadella had enjoyed
fanatical support from investors, who
lapped up his plan to redesign Microsoft as a leader in cloud and mobile
computing.
There are now signs that investors are
more sceptical of how quickly Nadella
can drag the PC-based titan into the
mobile world.
Microsoft’s shares were down 9.25% to $42.66 on Tuesday, its biggest one day fall since chief executive Satya Nadella took over last February.
“They made a splash with Office for
iPad, but it remains to be seen to what
extent they are really going to be able to
pull through substantial percentages of
their legacy applications business to the
cloud,” said Kessler.
Some investors feel Microsoft is not
business groups, but does not give out
concrete user numbers or revenue figures for some of the cloud businesses
investors want to know the most about.
“They’d probably serve themselves
better if they were able to tease out the
detail and demonstrate how strong that
transition to the cloud is,” said Kevin
Walkush, an analyst at Jensen Investment Management. “Right now people
are just guessing, and when you leave
it to people to guess, they are going to
project the worst. It’s a frustration for
me as an investor.”
China plans new probe into margin trading
Reuters
Beijing
C
An investor watches the electronic board at a stock exchange in Huaibei, Anhui
Province. Chinese regulators will launch a fresh investigation into stock margin
trading, and banks have been told to tighten lending supervision to avoid loans
being funnelled into stock markets.
Indian shares snap
rally; rupee up a tad
IANS
Mumbai
P
helping itself in how it explains the
financial effects of its move into the
cloud, for example shifting Office customers from installed versions to the
cloud-powered online version called
Office 365.
Microsoft discloses revenue in broad
ositive global and domestic cues led the two
major indices of the Indian equities markets
to scale new highs in yesterday’s intra-day
trade.
However, the two major indices closed the day’s
trade flat on the back of profit-booking.
The 30-scrip Sensitive Index (Sensex) of the S&P
Bombay Stock Exchange (BSE) touched a new high
of 29,786.32 points in the intra-day trade yesterday
– surpassing its previous high of 29,618.59 points
touched only the previous day.
The Sensex, however, closed the day’s trade flat.
It ended 11.86 points or 0.04% down at 29,559.18
points. The wider 50-scrip Nifty of the National
Stock Exchange (NSE) too scaled a new high in the
day’s trade. It touched 8,985.05 points during the
intra-day trade surpassing its previous record of
8,925.05 points reached on Tuesday.
Nifty also closed the day’s trade flat. It ended
3.80 points or 0.04% up at 8,914.30 points.
The S&P BSE Sensex, which opened at 29,565.72
points, closed the day’s trade at 29,559.18 points –
down 11.86 points or 0.04% from the previous day’s
close at 29,571.04 points.
The Sensex touched a high of 29,786.32 points
and a low of 29,417.67 points in intra-day trade.
“Over the near term as ECB QE adds strength
to commodity prices and improve world economy,
India can move ahead as budget provides higher
confidence,” said Vinod Nair, head-fundamental
research, Geojit BNP Paribas Financial Services.
On the BSE, healthy buying was observed in consumer durables, oil and gas and information technology (IT) sectors, while capital goods, metal and
automobile stocks came under selling pressure.
The S&P BSE consumer durables index gained
by 474.51 points, oil and gas index surged by 147.09
points and IT index was up 110.54 points.
However, capital goods index plunged 251.37
points, metal index went down by 148.94 points and
automobile index was lower by 146.15 points.
The rupee fell by 10 paise to 61.51 against the dollar in early trade yesterday at the Interbank Foreign
Exchange market due to appreciation of the US currency overseas.
Forex dealers attributed the domestic currency’s
fall to the dollar’s gains against other global currencies and a lower opening in the domestic equity
market. The rupee had ended marginally higher by
one paisa at 61.41 against the American currency in
Tuesday’s trade amid volatile markets on the back
of a higher dollar overseas.
hinese regulators will launch a
fresh investigation into stock
margin trading, and banks have
been told to tighten lending supervision to avoid loans being funnelled into
stock markets, three sources with direct
knowledge of the matter told Reuters.
The China Securities Regulatory
Commission and the China Banking
Regulatory Commission did not respond
to a request from Reuters seeking comment. The news comes as Beijing moves
cautiously to suppress the excessive use
of debt to make aggressive bets on Chinese stock markets, which have gained
around 40% since November.
The probe will focus on brokerages
not investigated in a previous crackdown, one source told Reuters. It will
target houses that have ignored regulatory curbs, especially a requirement for
investors to have an active brokerage
account for six months before beginning margin trading.
The previous crackdown in early January saw three of China’s largest brokerages temporarily suspended from
taking new business, as a punishment
for improper use of margin credit. The
second round of investigations in margin trading is expected to run two weeks
from next week until February 16, one
source told Reuters. Chinese regulators
are generally supportive of the recent
stock market rally, as it has proven to
be one of the few bright spots in financial markets in recent months, as house
prices slide and yields on fixed-income
products come under pressure.
However, the rally is also seen as becoming disconnected from economic
fundamentals and company earnings
as the world’s second-largest economy
looks set to see growth slow further
in 2015. Mainland stock markets have
seen dramatic crashes in the past, but
the risk has been amplified this time
around, given liberalisations made to
the way brokerages can allow investors
to bet using borrowed funds.
Since retail investors do most stock
market trades in China, the prospect of
a crash similar to that following a 2009
rally is worrisome, both in terms of potential wealth destruction and political
fallout if the legions of new investors
who jumped into the market find themselves abruptly and deeply in debt.
“Regulators have been signalling since
November and December that they were
worried about the direction of investment, requiring banks to investigate and
ensure liquidity didn’t flow into the stock
market,” said one of the sources. That
concern led to the punishment of three of
the country’s largest brokerages for improper allocations of trading margin earlier in January. At the same time, banking
regulators moved to curb abuse of shortterm forms of credit in the interbank
market that were similarly seen as being
used for stock market speculation.
Reports of previous investigations
and regulatory clampdowns caused a
dramatic plunge in stocks on January
19, with main indexes tumbling over 7%
in a single day.
Regulators followed up by reassuring the market they were not trying to
suppress the rally, but while markets
recovered, so did the use of leverage for
margin trading, which hit a record high
of 778bn yuan ($124.5bn) on Tuesday.
“The impact of industry overcapacity, local government debt, shadow
bank and property risk on the capital
markets is not negligible,” China Securities Regulatory Commission chief
Xiao Gang said in a report on the CSRC
website. The comments were made to
an industry conference in Beijing earlier
in the month.
Asia stocks gain despite weak US earnings reports
AFP
Tokyo
Asian stock markets ended mostly higher
yesterday after reversing earlier losses,
although dealers remained nervous following
a heavy sell-off in New York sparked by poor
earnings reports.
Traders are also keeping an eye on Europe
as Greece’s new anti-austerity government
prepares to face off with its international
creditors over its bailout.
Tokyo gained 0.15%, or 27.43 points, to
17,795.73, Sydney added 0.10%, or 5.56 points,
to close at 5,552.78 and Seoul rose 0.47%, or
9.18 points, to 1,961.58.
Hong Kong shares ended up 0.22% or 54.53
points at 24,861.81. But Shanghai closed 1.41%,
or 47.22 points, lower at 3,305.74 on liquidity
fears after some banks tightened borrowing
requirements for investors.
Investors – already nervous due to political
uncertainty in Greece, plunging oil prices
and weak world economic growth – ran for
cover in US trade on Tuesday in response to
negative reports from some of the world’s
biggest firms.
Caterpillar, Microsoft, Procter & Gamble
and mining giant Freeport-McMoRan all
announced weak earnings or negative
outlooks, sending their share prices plunging.
Adding to the negative sentiment was news
that US durable goods orders unexpectedly
tumbled 3.4% in December, reminding
investors that the US economy still has weak
spots, especially its exposure to the global
economic slowdown.
A Conference Board report, showing that US
consumer confidence jumped in January to
its highest level in more than seven years,
was unable to lift the mood.
After US markets closed, Apple announced
its quarterly profit rocketed to a corporate
record of $18bn at the end of last year on
booming sales of big-screen iPhone models,
especially in China.
Asian shares staged a rebound as yesterday
wound on, while the dollar picked up after
taking a hit in New York.
The troubled euro – which hit a more than
11-year low below $1.10 on Monday – jumped
above $1.14 at one point in US trade Tuesday
before easing slightly to $1.1380 by the end
of the day.
In afternoon trade yesterday the single
currency retreated to $1.1345.
The dollar was at 118.05 yen Wednesday in
Tokyo, up from 117.90 yen in New York, where
at one point it sank to 117.40 yen.
The Singapore dollar sank after the citystate’s central bank eased monetary policy
in the face of falling consumer prices and
weak economic growth. The US dollar surged
to Sg$1.3569 at one stage, its highest since
August 2010 and well up from Sg$1.3441 on
Tuesday.
The euro remains in focus as the Greece’s
new leftist Syriza leadership prepares for
a standoff with the European Union and
International Monetary Fund. The party
won weekend elections after campaigning
to renegotiate the country’s vast bailout that
came with painful terms including spending
cuts and high taxes.
Both sides appear ready to fight, with EU
officials warning Prime Minister Alexis Tsipras
not to seek any debt write-off or other radical
change to the rescue programme.
“If the continuation of the programme of
aid for Greece is called into question... Greek
banks would lose access to central bank
funds,” Joachim Nagel, a member of the
Bundesbank’s executive board, warned in a
Handelsblatt interview.
On oil markets the two main contracts
resumed their downtrend after rising on
Tuesday in reaction to the weaker dollar.
US benchmark West Texas Intermediate for
March delivery slipped 66 cents to $45.57.
The contract rose $1.08 Tuesday.
Brent North Sea crude – which jumped $1.44
in the previous session – shed 57 cents to
$49.03. Gold fetched $1,287.20 an ounce,
against $1,280.38 late Tuesday.
In other markets, Bangkok closed up 0.19%,
or 3points, to 1,592.81; Jakarta ended down
0.16%, or 8.30 points, at 5,268.85; Kuala
Lumpur shed 0.40%, or 7.29 points, to close
at 1,795.88; Manila closed 0.40% higher,
adding 30.61 points to 7,661.18; Singapore
closed up 0.20%, or 6.95 points, to 3,419.15;
Taipei fell 0.11%, or 10.67 points, to 9,510.92
and Wellington added 0.99%, or 57.09 points,
to 5,794.82.
Gulf Times
Thursday, January 29, 2015
7
BUSINESS
India makes push to bolster revenue
Reuters
New Delhi/Mumbai
I
ndia’s government made a push
yesterday to bolster its strained
finances, offering to sell a stake
in miner Coal India and more mobile
phone airwaves as it aimed to deliver
on a promise to trim its fiscal deficit.
Prime Minister Narendra Modi is
racing to honour a commitment to
narrow the deficit to a seven-year low
of 4.1% of gross domestic product in
the year ending in March.
A revenue shortfall has driven up
the deficit to 99% of the full-year
target in the first eight months of the
year, casting doubts on that pledge.
Modi’s eight-month-old administration said it would sell a stake of
up to 10% in Coal India, of which the
government currently owns close to
90%.
The stake to be sold, worth about
$3.9bn at current market prices,
will be unloaded through an auction tomorrow, it added. Separately,
the government will sell 2,100 MHz
mobile phone airwaves at Rs37.05bn
per MHz, Telecoms Minister Ravi
Shankar Prasad told reporters after a
cabinet meeting.
The sale is expected to fetch about
an extra $3bn from a telecoms spectrum band auction scheduled for early
March.
New Delhi is aiming to raise $13bn
from the auction, a quarter of which is
expected to flow into the exchequer by
March 31. Modi’s deficit promise relies
heavily on the asset sale programme.
He has budgeted to raise $10bn selling
small stakes in state-run firms. But to
date he has managed to raise a little
more than $300mn.
The Coal India disposal would cover more than a third of the asset sales
target. The government is also banking on the sale of a 5% stake in energy
explorer Oil and Natural Gas Corp,
worth $2.5bn. The sale is scheduled
before the end of the financial year,
the oil minister said yesterday. Tomorrow’s sale will include at least
315.8mn shares in Coal India, with an
option to sell 315.8mn more, the statement said. A floor price for the auction will be set today. Last week the
government invited bids from banks
to manage a sale of 10% stake in miner
NMDC. It is also planning to sell 5% in
Power Finance Corp (PFC), Dredging
Corp of India and Bharat Heavy Electricals, among others.
Singapore unexpectedly
eases monetary policy
Reuters
Singapore
S
ingapore’s central bank unexpectedly eased monetary policy
yesterday, saying a plunge in
commodity prices had significantly
changed the city state’s inflation outlook and joining global policymakers
in seeking to defuse deflationary pressures.
In an unscheduled policy statement,
the Monetary Authority of Singapore
(MAS) said that it is reducing the slope
of its policy band for the Singapore
dollar because the inflation outlook
has “shifted significantly” since its last
review in October 2014.
The MAS, which said the change in
outlook largely reflected the collapse
in global oil prices, kept the width and
mid-point of the band unchanged. The
surprise easing, the first unscheduled
policy change in over a decade and coming before the April review, sent the Singapore dollar skidding to 1.3570 per US
dollar, its weakest since August 2010.
“Imported inflationary pressures are
receding, with global oil prices likely to
stay subdued this year,” the MAS said.
The central bank said that it would
continue to stick with a policy of allowing the Singapore dollar to appreciate modestly and gradually against a
basket of currencies.
The MAS manages monetary policy
by letting the Singapore dollar rise or
fall against the currencies of its main
trading partners within an undisclosed
trading band based on its nominal effective exchange rate (NEER).
Given the secrecy around the band
and its parameters, analysts at Citi
suspected that the absence of the word
“slightly” in the central bank’s description of the lowering of the policy
band, hinted at a relatively big change
in the extent of appreciation allowed in
the currency.
They estimated that policy has until
now been to allow a 2% annualised appreciation of the trade-weighted index.
That could now have changed to 1% or
The logo of the Monetary Authority of Singapore is seen at its building in Singapore. The city state’s central bank unexpectedly eased monetary policy yesterday,
saying a plunge in commodity prices had significantly changed its inflation outlook and joining global policymakers in seeking to defuse deflationary pressures.
even 0.5%, the analysts wrote in a note.
Singapore rarely alters policy outside of
its two regular reviews, which are now
held in April and October. The last unscheduled policy change was in October
2001, in the wake of the September 11
attacks on the US.
The central bank probably felt the
need to act now rather than wait because of the significant downgrade to
its inflation outlook, analysts said.
“I infer that it’s just the magnitude
of the revision,” said Tim Condon,
head of research Asia for ING Bank in
Singapore.
The MAS cut its forecast range for
all-items inflation in 2015 by a full percentage point to between -0.5% and
0.5%, from 0.5% to 1.5% previously.
The central bank cut its 2015 core
inflation forecast range by even more,
to between 0.5% and 1.5%, from 2% to
3%. Short-term money rates spiked
higher as traders adjusted to the likely
pressure on forward markets from the
ensuing weakness in the Singapore
Regulator blasts e-commerce giant for lapses
AFP
Beijing
A powerful Chinese regulator yesterday blasted
e-commerce giant Alibaba for allowing “illegal”
actions on its multi-billion-dollar online shopping
platform, accusing executives of narcissism in an
unusual government dressing down of a major
domestic company.
The State Administration for Industry & Commerce
(SAIC), charged with maintaining market order
in China, said in an official report that Alibaba’s
platforms had hosted “long-standing” violations of
online business laws and regulations.
It took aim at Taobao, Alibaba’s consumer-toconsumer platform which is estimated to hold
more than 90% of the Chinese market, and Tmall.
com, believed to command over half the market in
China for business-to-consumer transactions.
“Alibaba has not paid enough attention to illegal
operations on its online trading platforms or
taken effective measures to tackle them... placing
itself in the biggest credibility crisis since its
establishment,” the SAIC said.
The SAIC has become known for its crackdowns
on foreign companies accused of violating China’s
anti-monopoly law. But its public dressing-down of
such a prominent Chinese firm is unprecedented.
The regulator accused Alibaba of poor oversight of
its employees as well as merchants and products
on its platforms, disorganised sales management
and a flawed rating system for users.
Business magazine Caixin described the SAIC
document as a “bombshell aimed at Alibaba”.
Alibaba, founded by Jack Ma in 1999, is China’s
biggest e-commerce company. It listed on the New
York Stock Exchange last year in the world’s largest
public offering to date, which made Ma China’s
richest person.
The regulator revealed for the first time that
SAIC gave Alibaba what it called “administrative
guidance”, a form of official censure, in July last
year ahead of the IPO.
People ride a double bicycle past a logo of the Alibaba at the company’s headquarters in Zhejiang
province. A Chinese regulator yesterday said Alibaba’s platforms had hosted ‘long-standing’ violations
of online business laws and regulations.
dollar. Some analysts said the MAS
could ease policy further at its next
review in April, especially noting the
large downgrade to its core inflation
forecast. Jonathan Cavenagh, senior
FX strategist with Westpac in Singapore, said the more benign price backdrop “leaves the door wide open” for
another policy adjustment in April.
Yesterday’s move follows similar
surprises in global monetary policymaking, including the Bank of Canada’s shock rate cut last week and a
larger-than-expected
bond-buying
stimulus programme by the European
Central Bank – all of which are aimed
at fighting off the threat of deflation
from plunging oil and slowing global
growth.
Singapore’s economy has also been
tepid, with growth slowing more than
expected in the fourth quarter as the
manufacturing sector contracted in
the face of erratic global demand, raising concerns about the outlook for
2015.
Spring Air
becomes
Asia’s most
valuable
budget
airline
Reuters
Beijing
China’s Spring Airlines Co has
seen its share price more than
double within just six days of
listing on the Shanghai stock
exchange, making it Asia’s
most valuable budget carrier.
Spring’s shares gained the
daily limit of 10% each day
since hitting the debut
maximum of 44% on January
21. That made the airline
worth 15.29bn yuan ($2.45bn),
pushing Malaysian low-cost
carrier (LCC) AirAsia Bhd into
second place with a market
capitalisation of $2.13bn.
The shares – which halted
yesterday trade at 42.13 yuan
($7) shortly after market-open
– are now more expensive
than those of Air China, with
a price-to-earnings ratio of
14.94 versus the flag carrier’s
13.22.
“I am not that surprised by
its share price performance
as it’s the only listed LCC” in
China, said analyst Yu Nan
at Haitong Securities. “A few
other new listed companies
were also popular in the first
few days’ trading.”
Shares of other Shanghailisted airlines were lower in
afternoon trade yesterday in
line with the broader market,
with Air China down 2.4% at
8.7 yuan.
China Eastern Airlines Corp
was 2.02% lower at 5.3
yuan and China Southern
Airlines Co was down 1.9%
at 5.17 yuan. The benchmark
Shanghai Stock Exchange
Composite Index was down
1.4%. Spring has managed to
undercut its larger stateowned rivals with stringent
cost control and a no-frills
approach.
“We are not that surprised (by
the share price rise) because
our financial figures are
above the industry’s average
and our business model also
helps,” Spring Chief Financial
Officer Chen Ke told Reuters.
Spring filled more planes
more often last year than
domestic rivals, reporting
China’s highest average
passenger load factor of 95%.
The airline has also been
profitable since its first full
year of operation in 2006.
With AirAsia, shares have
been affected by the crash
last month of an aircraft
operated by an Indonesian
affiliate. Low fares in its home
market as well as overcapacity in Southeast Asia
have also pulled down profit
at airlines across the region.
Yahoo unveils tax-free
spinoff of Alibaba stake
AFP
Beijing
Y
ahoo is spinning off its stake in Chinese Internet giant Alibaba, splitting
off the valuable holdings in a move that
sidesteps taxes.
The strategy laid out on Tuesday aims to
deliver more cash for shareholders than an
outright sale of the $40bn stake, avoiding a
hefty tax bill, and to help Yahoo’s efforts to
refocus under chief executive Marissa Mayer.
Mayer told a conference call the deal “maximises value for shareholders” and avoids a
potential tax bill of up to $16bn under a traditional sale of the stake.
She said the move is part of a broader effort to help Yahoo’s “remixing” of its activities around mobile Internet, video and other
forms of online media.
The spinoff creates a new entity to hold
Alibaba shares, in a move responding to concerns of activist shareholders who want the
struggling California group to extract value
from the holdings.
Shares in Yahoo jumped 6.69% to $51.20 in
after-hours trading as investors cheered the
move.
Yahoo said its board authorised creation of
an independent investment company called
SpinCo to hold the Alibaba shares. SpinCo
would be totally owned by Yahoo shareholders. Yahoo’s current market value is about
$45bn, most of which is in Alibaba shares. Ya-
hoo bought a 40% stake in the Chinese online
giant in 2005 for $1bn.
Yahoo chief finance officer Ken Goldman
said the plan is a “unique spinoff ” that places
the Alibaba stake in a registered investment
company in a “clean transaction.”
Yahoo will continue to operate its core
business and hold its 35.5% stake in Yahoo
Japan.
Goldman said Yahoo is “open minded
about alternatives for value creation” of the
stake in Yahoo Japan, whose value is estimated at $7bn.
Yahoo said separately its profit in the fourth
quarter fell 52% from a year ago to $166mn
while revenue was essentially flat at $1.25bn.
“Our performance in the fourth quarter
and in 2014 continues to show stability in our
core business,” said Mayer.
Revenue from users accessing Yahoo sites
on mobile devices rose some 23% in the quarter to $254mn, highlighting the company’s
effort to connect with users on the go.
Yahoo also struck a deal to be the primary
search engine for the Mozilla Firefox browser
in North America, which should help it compete against market leader Google in search
and related advertising revenues.
Microsoft Bing powers Yahoo searches in
an alliance struck by the companies.
“Our new partnership with Mozilla gives us
reason to be optimistic,” Mayer said of Yahoo
gaining ground in a valuable online search
market dominated by Google.
The Alibaba spinoff will add to the $9.7bn
already returned to shareholders from Alibaba and bring the total amount to nearly
$50bn.
Yahoo said the spinoff is expected to occur
in the fourth quarter, following the end of a
“lockup” agreement on the shares with Alibaba.
The deal also requires review by US tax authorities.
Investors were concerned about Yahoo
taking a huge tax hit from its sale of Alibaba
shares, but the spinoff announced Tuesday
was done “elegantly” and should ease those
worries, said independent analyst Rob Enderle of Enderle Group in Silicon Valley.
“That was the good news,” Enderle said.
“The bad news is that top line and bottom
line performance are down, and Mayer needs
some kind of sustained growth to take her off
the hot seat.”
Financial performance of the Californiabased Internet pioneer had been shielded in
the market by its lucrative stake in Alibaba.
That shield has been spun off.
“Yahoo has been protected by how well
Alibaba is doing, and they don’t get that any
more,” Enderle said.
“Their own performance hasn’t been that
good; investors are likely going to take their
profits and run.”
Yahoo will continue to watch for opportunities to make smart acquisitions, but isn’t
considering any major buys unless they line
up with the company’s technology priorities,
Mayer said.
8
Gulf Times
Thursday, January 29, 2015
BUSINESS
SAUDI ARABIA
Company Name
QATAR
Company Name
Zad Holding Co
Widam Food Co
Vodafone Qatar
United Development Co
Salam International Investme
Qatar & Oman Investment Co
Qatar Navigation
Qatar National Cement Co
Qatar National Bank
Qatar Islamic Insurance
Qatar Industrial Manufactur
Qatar International Islamic
Qatari Investors Group
Qatar Islamic Bank
Qatar Gas Transport(Nakilat)
Qatar General Insurance & Re
Qatar German Co For Medical
Qatar Fuel Co
Qatar Electricity & Water Co
Qatar Cinema & Film Distrib
Qatar Insurance Co
Ooredoo Qsc
National Leasing
Mazaya Qatar Real Estate Dev
Mesaieed Petrochemical Holdi
Al Meera Consumer Goods Co
Medicare Group
Mannai Corporation Qsc
Masraf Al Rayan
Al Khalij Commercial Bank
Industries Qatar
Islamic Holding Group
Gulf Warehousing Company
Gulf International Services
Ezdan Holding Group
Doha Insurance Co
Doha Bank Qsc
Dlala Holding
Commercial Bank Of Qatar Qsc
Barwa Real Estate Co
Al Khaleej Takaful Group
Aamal Co
Lt Price
85.50
59.50
15.50
24.34
16.40
15.30
98.70
133.00
201.00
80.00
45.10
78.50
38.45
103.20
23.39
58.90
9.60
210.90
193.40
43.70
87.70
115.00
20.70
19.89
27.35
201.00
121.50
103.00
45.00
21.90
149.10
119.80
54.30
100.30
14.73
26.10
58.80
43.00
67.70
44.60
50.90
14.63
% Chg
0.00
-0.67
0.58
0.87
0.06
-0.13
0.71
0.00
0.50
0.13
-1.64
0.13
-1.03
-0.39
0.04
0.17
-0.10
-0.75
1.79
9.80
4.28
-0.35
-2.82
0.81
0.55
-0.25
-0.41
-0.48
1.24
1.86
0.07
0.00
-1.45
1.62
0.00
-2.43
-0.51
-0.12
1.20
-0.89
0.59
3.10
Volume
200
6,398
685,636
191,285
111,765
74,784
87,072
73
424,355
1,300
2,679
162,587
199,860
25,959
193,330
1
33,926
18,215
22,950
1,020
476,062
69,147
280,076
912,481
353,520
15,952
23,462
5,670
597,336
169,357
229,835
131,931
34,313
474,782
3,569,227
34,345
101,312
274,306
201,670
858,418
5,074
707,118
SAUDI ARABIA
Company Name
Saudi Hollandi Bank
Al-Ahsa Development Co.
Al-Baha Development & Invest
Ace Arabia Cooperative Insur
Allied Cooperative Insurance
Arriyadh Development Company
Fitaihi Holding Group
Arabia Insurance Cooperative
Al Abdullatif Industrial Inv
Al-Ahlia Cooperative Insuran
Al Alamiya Cooperative Insur
Dar Al Arkan Real Estate Dev
Al Babtain Power & Telecommu
Bank Albilad
Alujain Corporation (Alco)
Aldrees Petroleum And Transp
Fawaz Abdulaziz Alhokair & C
Alinma Bank
Alinma Tokio Marine
Al Khaleej Training And Educ
Abdullah A.M. Al-Khodari Son
Allianz Saudi Fransi Coopera
Almarai Co
Saudi Integrated Telecom Co
Alsorayai Group
Al Tayyar Travel Group
Amana Cooperative Insurance
Anaam International Holding
Abdullah Al Othaim Markets
Arabian Pipes Co
Advanced Petrochemicals Co
Al Rajhi Co For Co-Operative
Arabian Cement
Arab National Bank
Ash-Sharqiyah Development Co
United Wire Factories Compan
Astra Industrial Group
Alahli Takaful Co
Aseer
Axa Cooperative Insurance
Basic Chemical Industries
Bishah Agriculture
Bank Al-Jazira
Banque Saudi Fransi
United International Transpo
Bupa Arabia For Cooperative
Buruj Cooperative Insurance
Saudi Airlines Catering Co
Methanol Chemicals Co
City Cement Co
Eastern Province Cement Co
Etihad Atheeb Telecommunicat
Etihad Etisalat Co
Emaar Economic City
Saudi Enaya Cooperative Insu
United Electronics Co
Falcom Saudi Equity Etf
Filing & Packing Materials M
Wafrah For Industry And Deve
Falcom Petrochemical Etf
Gulf General Cooperative Ins
Jazan Development Co
Gulf Union Cooperative Insur
Halwani Bros Co
Hail Cement
Herfy Food Services Co
Al Jouf Agriculture Developm
Jarir Marketing Co
Jabal Omar Development Co
Al Jouf Cement
Saudi Kayan Petrochemical Co
Knowledge Economic City
Kingdom Holding Co
Saudi Arabian Mining Co
Malath Cooperative & Reinsur
Makkah Construction & Devepl
Mediterranean & Gulf Insuran
Middle East Specialized Cabl
Mohammad Al Mojil Group Co
Mouwasat Medical Services Co
The National Agriculture Dev
Najran Cement Co
Nama Chemicals Co
National Gypsum
National Gas & Industrializa
National Industrialization C
Maadaniyah
National Shipping Co Of/The
National Petrochemical Co
Rabigh Refining And Petroche
Al Qassim Agricultural Co
Qassim Cement/The
Red Sea Housing Services Co
Saudi Research And Marketing
Riyad Bank
Al Rajhi Bank
Saudi Arabian Amiantit Co
Lt Price
47.23
15.99
13.50
62.36
24.04
22.90
23.70
18.82
35.33
14.87
106.75
10.15
34.80
47.17
23.18
54.95
90.55
22.01
50.26
65.46
31.53
43.53
82.50
24.30
16.71
135.33
16.07
30.57
109.50
20.18
47.73
42.15
78.50
33.51
85.02
36.35
34.44
51.65
27.00
37.75
36.80
69.75
27.91
34.70
76.45
165.52
40.27
190.52
12.75
23.03
60.45
7.18
37.90
14.88
29.02
93.71
28.90
53.64
39.71
27.80
30.38
16.29
19.10
83.31
24.74
112.97
45.18
193.25
54.94
16.08
12.20
19.57
18.03
36.62
30.33
81.90
51.23
24.69
12.55
127.44
35.33
29.30
11.45
27.45
33.14
26.62
35.21
38.33
25.41
19.96
12.69
92.10
40.61
17.44
17.72
57.05
13.94
% Chg
2.52
-0.99
0.00
-1.56
0.46
1.87
3.22
-0.37
1.17
0.61
9.79
9.61
2.99
5.24
8.83
2.06
0.97
5.36
0.00
0.74
2.10
-3.27
1.80
0.00
1.70
2.98
2.03
-1.61
0.46
2.44
4.58
0.43
0.78
2.85
4.19
0.41
-0.14
0.14
3.57
0.03
1.07
0.00
3.29
2.00
-1.07
4.77
3.60
0.40
2.16
2.72
1.60
3.61
-1.33
3.26
-0.07
4.72
0.00
1.86
4.39
4.12
-1.11
5.51
0.84
-0.05
0.77
2.31
2.38
1.16
3.15
3.21
4.27
2.89
0.28
1.95
-0.20
1.25
-0.58
6.74
0.00
0.04
2.76
0.83
3.06
2.73
1.91
2.19
1.18
-0.57
4.18
3.31
1.12
0.43
0.27
-0.57
3.57
2.83
2.80
Volume
194,904
14,121,252
524,199
864,650
1,749,106
962,141
786,732
522,166
1,547,193
287,432
98,346,394
1,143,710
2,205,823
3,322,966
988,870
735,983
56,966,461
625,989
420,007
3,106,025
1,733,213
389,831
959,626
388,243
3,106,699
2,606,641
319,047
3,392,843
1,954,084
381,741
475,130
554,317
2,754,514
1,223,012
2,946,365
645,261
2,443,432
672,870
223,971
7,286,708
497,537
350,248
353,976
653,086
74,069
2,456,708
1,559,025
318,252
11,617,172
16,629,322
7,532,619
1,439,873
334,069
1
761,357
2,015,370
1,281
874,551
2,317,554
1,059,675
47,769
468,965
205,917
321,401
136,067
5,572,760
5,792,910
21,017,483
3,651,091
1,320,776
12,331,604
3,738,912
91,715
980,394
6,191,467
246,275
609,287
366,538
3,900,479
1,170,556
198,449
3,219,847
1,622,782
1,560,740
1,877,119
6,216,252
3,310,064
39,181
546,402
541,381
2,562,973
7,058,885
2,534,302
Saudi British Bank
Sabb Takaful
Saudi Basic Industries Corp
Saudi Cement
Sasco
Saudi Dairy & Foodstuff Co
Saudi Arabian Fertilizer Co
Al Sagr Co-Operative Insuran
Saudi Advanced Industries
Saudi Arabian Coop Ins Co
Salama Cooperative Insurance
Samba Financial Group
Sanad Cooperative Insurance
Saudi Public Transport Co
Saudi Arabia Refineries Co
Hsbc Amanah Saudi 20 Etf
Saudi Re For Cooperative Rei
Savola
Saudi Cable Co
Saudi Chemical Company
Saudi Ceramic
Saudi Electricity Co
Saudi Fisheries
Al-Hassan G.I. Shaker Co
Dur Hospitality Co
Arabian Shield Cooperative
Saudi Investment Bank/The
Saudi Industrial Development
Saudi Industrial Export Co
KUWAIT
Lt Price
54.93
35.73
88.53
100.26
27.73
123.00
147.18
29.93
21.45
42.33
28.97
46.27
15.23
25.84
64.28
29.10
9.56
82.06
9.93
59.02
107.12
15.67
28.27
72.64
33.13
42.08
27.17
16.61
47.40
% Chg
2.44
-0.20
5.38
-0.24
2.48
0.41
1.93
-1.06
2.48
2.57
-0.41
9.10
0.00
0.70
1.07
3.93
2.14
2.56
1.43
7.76
3.03
1.62
2.43
2.57
3.31
4.18
1.76
-0.42
-0.80
Volume
657,656
1,411,770
6,741,849
177,940
1,212,293
121,591
181,672
2,434,862
1,629,282
781,689
587,477
4,076,258
2,557,443
1,190,478
1,039
4,924,561
364,324
1,309,274
1,182,800
442,434
2,750,991
1,482,522
256,272
662,848
1,156,916
2,341,339
2,568,500
846,419
KUWAIT
Company Name
Viva Kuwait Telecom Co
Securities Group Co
Sultan Center Food Products
Kuwait Foundry Co Sak
Kuwait Financial Centre Sak
Ajial Real Estate Entmt
Gulf Glass Manuf Co -Kscc
Kuwait Finance & Investment
National Industries Co
Kuwait Real Estate Holding C
Securities House/The
Boubyan Petrochemicals Co
Al Ahli Bank Of Kuwait
Ahli United Bank (Almutahed)
National Bank Of Kuwait
Commercial Bank Of Kuwait
Kuwait International Bank
Gulf Bank
Al-Massaleh Real Estate Co
Al Arabiya Real Estate Co
Kuwait Remal Real Estate Co
Alkout Industrial Projects C
A’ayan Real Estate Co
Investors Holding Group Co.K
Markaz Real Estate Fund
Al-Mazaya Holding Co
Al-Madar Finance & Invt Co
Gulf Petroleum Investment
Mabanee Co Sakc
City Group
Inovest Co Bsc
Kuwait Gypsum Manufacturing
Al-Deera Holding Co
Alshamel International Hold
Mena Real Estate Co
National Slaughter House
Amar Finance & Leasing Co
United Projects Group Kscc
National Consumer Holding Co
Amwal International Investme
Jeeran Holdings
Equipment Holding Co K.S.C.C
Nafais Holding
Safwan Trading & Contracting
Arkan Al Kuwait Real Estate
Gulf Finance House Ec
Energy House Holding Co Kscc
Kuwait Slaughter House Co
Kuwait Co For Process Plant
Al Maidan Dental Clinic Co K
National Ranges Company
Kuwait Pipes Indus & Oil Ser
Al-Themar Real International
Al Ahleia Insurance Co Sak
Wethaq Takaful Insurance Co
Salbookh Trading Co K.S.C.C
Aqar Real Estate Investments
Hayat Communications
Kuwait Packing Materials Mfg
Soor Fuel Marketing Co Ksc
Alargan International Real
Burgan Co For Well Drilling
Kuwait Resorts Co Kscc
Oula Fuel Marketing Co
Palms Agro Production Co
Ikarus Petroleum Industries
Mubarrad Transport Co
Al Mowasat Health Care Co
Shuaiba Industrial Co
Kuwait Invest Co Holding
Hits Telecom Holding
First Takaful Insurance Co
Kuwaiti Syrian Holding Co
National Cleaning Company
Eyas For High & Technical Ed
United Real Estate Company
Agility
Kuwait & Middle East Fin Inv
Fujairah Cement Industries
Livestock Transport & Tradng
International Resorts Co
National Industries Grp Hold
Marine Services Co
Warba Insurance Co
Kuwait United Poultry Co
First Dubai Real Estate Deve
Al Arabi Group Holding Co
Kuwait Hotels Co
Mobile Telecommunications Co
Al Safat Real Estate Co
Tamdeen Real Estate Co Ksc
Al Mudon Intl Real Estate Co
Kuwait Cement Co Ksc
Sharjah Cement & Indus Devel
Kuwait Portland Cement Co
Educational Holding Group
Bahrain Kuwait Insurance
Kuwait China Investment Co
Kuwait Investment Co
Burgan Bank
Kuwait Projects Co Holdings
Al Madina For Finance And In
Kuwait Insurance Co
Al Masaken Intl Real Estate
Intl Financial Advisors
First Investment Co Kscc
Al Mal Investment Company
Bayan Investment Co Kscc
Egypt Kuwait Holding Co Sae
Coast Investment Development
Privatization Holding Compan
Kuwait Medical Services Co
Injazzat Real State Company
Kuwait Cable Vision Sak
Sanam Real Estate Co Kscc
Ithmaar Bank Bsc
Aviation Lease And Finance C
Arzan Financial Group For Fi
Ajwan Gulf Real Estate Co
Manafae Investment Co
Kuwait Business Town Real Es
Future Kid Entertainment And
Specialities Group Holding C
Abyaar Real Eastate Developm
Dar Al Thuraya Real Estate C
Lt Price
700.00
118.00
95.00
315.00
110.00
204.00
510.00
55.00
216.00
35.00
84.00
570.00
405.00
660.00
900.00
620.00
260.00
305.00
76.00
46.50
69.00
0.00
98.00
34.00
1.54
128.00
29.50
94.00
980.00
440.00
66.00
170.00
13.00
0.00
39.00
152.00
68.00
760.00
108.00
35.00
61.00
102.00
90.00
0.00
132.00
24.00
110.00
196.00
246.00
0.00
34.50
0.00
90.00
485.00
61.00
118.00
95.00
69.00
450.00
140.00
184.00
178.00
91.00
140.00
130.00
146.00
77.00
184.00
246.00
0.00
31.50
0.00
0.00
68.00
310.00
98.00
790.00
39.00
80.00
130.00
39.50
190.00
100.00
112.00
180.00
75.00
156.00
178.00
530.00
23.00
450.00
112.00
375.00
89.00
1,360.00
150.00
0.00
49.50
144.00
465.00
700.00
31.00
290.00
68.00
40.50
0.00
42.50
66.00
200.00
61.00
54.00
85.00
71.00
34.00
64.00
49.00
238.00
49.00
37.50
61.00
36.50
0.00
138.00
32.50
0.00
% Chg
1.45
0.00
0.00
3.28
0.00
0.00
6.25
-6.78
0.00
-4.11
-2.33
0.00
0.00
1.54
-1.10
0.00
0.00
3.39
0.00
-1.06
-2.82
0.00
0.00
1.49
0.00
0.00
-7.81
3.30
1.03
0.00
0.00
0.00
0.00
0.00
0.00
0.00
4.62
0.00
0.00
0.00
0.00
4.08
1.12
0.00
-2.94
0.00
3.77
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1.67
1.72
0.00
-2.82
0.00
0.00
0.00
-10.10
-1.09
0.00
0.00
1.39
2.67
0.00
0.00
0.00
-1.56
0.00
0.00
1.49
0.00
-1.01
2.60
-4.88
0.00
0.00
2.60
0.00
0.00
0.00
0.00
1.35
0.00
0.00
1.92
0.00
0.00
0.00
0.00
1.14
0.00
0.00
0.00
0.00
-1.37
0.00
0.00
1.64
0.00
0.00
-1.22
0.00
0.00
0.00
0.00
-1.61
-1.82
0.00
2.90
7.94
0.00
-1.01
0.85
1.03
2.74
0.00
-3.95
0.00
0.00
0.00
0.00
Volume
1,708,550
110
73,650
17,290
135,803
5,600
1,010
155,500
110
10,000
4,851,471
126,513
16,000
42,330
3,924,559
3,142
106,502
1,409,838
335,677
2,181,414
2,412,930
1,839,923
7,506,566
4,345,698
3,995
1,337,764
82,893
7,000
351,580
500
1,187,063
3,950
10
1,000
150
1,000
51,100
5,400
1,322,081
3,500
40,065
44,296,412
1,858,249
100
17,006
17,162,302
421,144
1,633
18,050
11,441,091
5,000
267,684
6,739
63,609
220,000
2,500
280,087
21,633
30,110
8,300
4,768,046
1,500
102
7,925,759
768,450
50
45,000
2,739,533
1,202
22,000
93,454
133,900
722,880
1,110
376
264,631
755,850
34,861
12,157
3,207,216
5,027,415
39,000
519,328
28,419
18,934
13,711
71
38,138
35,000
1,736,124
1,271,979
6,933,115
118,799
130,020
730,261
1
7,026,429
10,000
1,701,700
2,678,505
100
61,398
21,030
1,500
295,000
60,019
717,150
1,829,671
2
3,621,620
50
6,083,479
-
Company Name
Al-Dar National Real Estate
Kgl Logistics Company Kscc
Combined Group Contracting
Zima Holding Co Ksc
Qurain Holding Co
Boubyan Intl Industries Hold
Gulf Investment House
Boubyan Bank K.S.C
Ahli United Bank B.S.C
Al-Safat Tec Holding Co
Al-Eid Food Co
Al-Qurain Petrochemicals Co
Advanced Technology Co
Ekttitab Holding Co S.A.K.C
Kout Food Group Ksc
Real Estate Trade Centers Co
Acico Industries Co Kscc
Kipco Asset Management Co
National Petroleum Services
Alimtiaz Investment Co Kscc
Ras Al Khaimah White Cement
Kuwait Reinsurance Co Ksc
Kuwait & Gulf Link Transport
Human Soft Holding Co Ksc
Automated Systems Co
Metal & Recycling Co
Gulf Franchising Holding Co
Al-Enma’a Real Estate Co
National Mobile Telecommuni
Al Bareeq Holding Co Kscc
Union Real Estate Co
Housing Finance Co Sak
Al Salam Group Holding Co
United Foodstuff Industries
Al Aman Investment Company
Mashaer Holdings Co Ksc
Manazel Holding
Mushrif Trading & Contractin
Tijara And Real Estate Inves
Kuwait Building Materials
Jazeera Airways
Commercial Real Estate Co
Future Communications Co
National International Co
Taameer Real Estate Invest C
Gulf Cement Co
Heavy Engineering And Ship B
Refrigeration Industries & S
National Real Estate Co
Al Safat Energy Holding Comp
Kuwait National Cinema Co
Danah Alsafat Foodstuff Co
Independent Petroleum Group
Kuwait Real Estate Co Ksc
Salhia Real Estate Co Ksc
Gulf Cable & Electrical Ind
Al Nawadi Holding Co Ksc
Kuwait Finance House
Gulf North Africa Holding Co
OMAN
Lt Price
26.00
102.00
910.00
110.00
12.00
68.00
63.00
445.00
234.00
58.00
0.00
190.00
920.00
44.50
840.00
32.00
295.00
95.00
610.00
81.00
130.00
200.00
63.00
450.00
400.00
84.00
51.00
74.00
1,420.00
0.00
148.00
0.00
67.00
182.00
81.00
130.00
52.00
70.00
58.00
440.00
470.00
94.00
118.00
65.00
34.50
91.00
138.00
350.00
132.00
23.50
1,040.00
84.00
395.00
71.00
370.00
670.00
118.00
770.00
40.00
% Chg
4.00
-1.92
0.00
-5.17
4.35
0.00
3.28
0.00
-0.85
0.00
0.00
0.00
0.00
0.00
3.70
0.00
5.36
-2.06
0.00
6.58
6.56
0.00
0.00
2.27
0.00
0.00
-3.77
0.00
-1.39
0.00
0.00
0.00
1.52
0.00
-4.71
-5.80
5.05
0.00
1.75
0.00
0.00
1.08
5.36
0.00
-4.17
-1.09
-2.82
0.00
0.00
2.17
0.00
0.00
2.60
-2.74
0.00
1.52
0.00
1.32
2.56
Volume
25,877,467
140,855
13,550
9,010
688,520
31,585
18,431,277
766,096
2,390,100
110
157,263
105,000
1,070,201
45,000
58,089
23,761
300
2,000
8,243,985
7,460
500
687,100
4,486
2
110
20,658
76,235
1,517
50
4,323,287
1,000
2,118,075
10
14,393,714
1,645,040
364,770
230
264,562
421,050
131,500
1,224,758
453,251
635,093
107
280
3,587,222
4,867,600
1,995,500
60,022
1,100
3,607,700
27,000
5,050
13,500
1,171,633
1,256,554
OMAN
Company Name
Voltamp Energy Saog
United Finance Co
United Power Co
United Power/Energy Co- Pref
Al Madina Investment Co
Taageer Finance
Salalah Port Services
A’saffa Foods Saog
Sohar Poultry
Shell Oman Marketing
Shell Oman Marketing - Pref
Smn Power Holding Saog
Al Shurooq Inv Ser
Al Sharqiya Invest Holding
Sohar Power Co
Salalah Beach Resort Saog
Salalah Mills Co
Sahara Hospitality
Renaissance Services Saog
Raysut Cement Co
Port Service Corporation
Packaging Co Ltd
Oman United Insurance Co
Oman Textile Holding Co Saog
Oman Telecommunications Co
Sweets Of Oman
Oman Orix Leasing Co.
Oman Refreshment Co
Oman Packaging
Oman Oil Marketing Company
0Man Oil Marketing Co-Pref
Oman National Investment Co
Oman National Engineering An
Oman National Dairy Products
Ominvest
Oman Medical Projects
Oman Ceramic Com
Oman Intl Marketing
Oman Investment & Finance
Hsbc Bank Oman
Oman Hotels & Tourism Co
Oman Holding International
Oman Fiber Optics
Oman Flour Mills
Oman Filters Industry
Oman Fisheries Co
Oman Education & Training In
Oman & Emirates Inv(Om)50%
Oman & Emirates Inv(Emir)50%
Oman Europe Foods Industries
Oman Cement Co
Oman Chlorine
Oman Chromite
Oman Cables Industry
Oman Agricultural Dev
Omani Qatari Telecommunicati
National Securities
Oman Foods International Soa
National Pharmaceutical-Rts
National Pharmaceutical
National Packaging Fac
National Mineral Water
National Hospitality Institu
National Gas Co
National Finance Co
National Detergents/The
National Carpet Factory
National Bank Of Oman Saog
National Biscuit Industries
National Real Estate Develop
Natl Aluminium Products
Muscat Thread Mills Co
Muscat Insurance Company
Modern Poultry Farms
Muscat National Holding
Musandam Marketing & Invest
Al Maha Petroleum Products M
Muscat Gases Company Saog
Majan Glass Company
Muscat Finance
Al Kamil Power Co
Interior Hotels
Hotels Management Co Interna
Al-Hassan Engineering Co
Gulf Stone
Gulf Mushroom Company
Gulf Invest. Serv. Pref-Shar
Gulf Investments Services
Gulf International Chemicals
Gulf Hotels (Oman) Co Ltd
Global Fin Investment
Galfar Engineering&Contract
Galfar Engineering -Prefer
Financial Services Co.
Flexible Ind Packages
Lt Price
0.39
0.15
1.66
1.00
0.00
0.15
0.65
0.78
0.21
2.00
1.05
0.66
1.04
0.19
0.38
1.38
1.49
2.45
0.48
1.86
0.32
0.48
0.32
0.27
1.78
1.35
0.15
2.45
0.26
2.22
0.25
0.39
0.30
0.00
0.43
0.00
0.45
0.52
0.24
0.00
0.23
0.00
5.51
0.58
0.00
0.07
0.14
0.12
0.00
1.00
0.51
0.56
3.64
2.01
1.45
0.00
0.17
0.52
0.00
0.10
0.00
0.06
2.05
0.60
0.15
0.70
0.00
0.35
3.75
0.00
0.33
0.16
0.00
0.00
1.86
0.00
2.16
0.83
0.24
0.15
0.31
0.00
1.25
0.10
0.08
0.43
0.15
0.15
0.19
10.50
0.12
0.18
0.43
0.16
0.00
% Chg
0.00
7.14
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
4.44
0.00
0.00
0.00
0.00
0.41
0.00
0.00
0.00
-1.83
0.00
-0.56
0.00
0.00
0.00
0.00
0.00
0.00
1.03
0.00
0.00
0.00
0.00
0.00
0.00
-1.67
0.00
0.00
0.00
0.00
0.00
0.00
1.45
0.00
-4.72
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-2.25
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1.96
0.00
0.00
0.00
0.67
0.00
0.00
0.88
-2.20
0.00
0.63
0.00
Volume
9,000
5,423,510
21,384
899,977
2,110
88,900
10,643
284,750
189,220
105,000
309,000
4,316
75,421
1,386,342
650
359,835
202,110
708,630
651,517
323,923
22,000
-
Company Name
Financial Corp/The
Dhofar Tourism
Dhofar Poultry
Aloula Co
Dhofar Intl Development
Dhofar Insurance
Dhofar University
Dhofar Power Co
Dhofar Power Co-Pfd
Dhofar Fisheries & Food Indu
Dhofar Cattlefeed
Al Batinah Dev & Inv
Dhofar Beverages Co
Computer Stationery Inds
Construction Materials Ind
Cement & Gypsum Pro
Marine Bander Al-Rowdha
Bank Sohar
Bankmuscat Saog
Bank Dhofar Saog
Al Batinah Hotels
Majan College
Areej Vegetable Oils
Al Jazeera Steel Products Co
Al Sallan Food Industry
Acwa Power Barka Saog
Al-Omaniya Financial Service
Taghleef Industries Saog
Gulf Plastic Industries Co
Al Jazeera Services
Al Jazerah Services -Pfd
Al-Fajar Al-Alamia Co
Ahli Bank
Abrasives Manufacturing Co S
Al-Batinah Intl Saog
Lt Price
0.13
0.49
0.18
0.53
0.53
0.23
1.47
0.00
0.00
1.28
0.18
0.20
0.26
0.25
0.04
0.00
0.00
0.23
0.59
0.36
1.13
0.50
5.51
0.34
0.00
0.82
0.33
0.00
0.39
0.34
0.55
0.75
0.23
0.05
0.00
% Chg
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3.59
0.00
0.00
0.00
0.00
0.00
0.00
-1.00
1.71
0.00
0.00
0.00
3.64
0.00
0.00
0.00
0.00
0.00
0.59
0.00
0.00
0.00
0.00
0.00
Volume
1,613,531
1,185,661
100,075
636,000
135,600
-
UAE
Company Name
National Takaful Company
Waha Capital Pjsc
Union Insurance Co
Union National Bank/Abu Dhab
United Insurance Company
Union Cement Co
United Arab Bank
Abu Dhabi National Takaful C
Abu Dhabi National Energy Co
#N/A Invalid Security
Sorouh Real Estate Company
Sharjah Insurance Company
Sharjah Cement & Indus Devel
Ras Al Khaima Poultry
Ras Al Khaimah White Cement
Rak Properties
Ras Al-Khaimah National Insu
Ras Al Khaimah Ceramics
Ras Al Khaimah Cement Co
National Bank Of Ras Al-Khai
Ooredoo Qsc
Umm Al Qaiwain Cement Indust
Oman & Emirates Inv(Emir)50%
National Marine Dredging Co
National Corp Tourism & Hote
Sharjah Islamic Bank
National Bank Of Umm Al Qaiw
National Bank Of Fujairah
National Bank Of Abu Dhabi
Methaq Takaful Insurance
#N/A Invalid Security
Gulf Pharmaceutical Ind-Julp
Invest Bank
Insurance House
Gulf Medical Projects
Gulf Livestock Co
Green Crescent Insurance Co
Gulf Cement Co
Foodco Holding
Finance House
First Gulf Bank
Fujairah Cement Industries
Fujairah Building Industries
Emirates Telecom Corporation
Eshraq Properties Co Pjsc
Emirates Insurance Co. (Psc)
Emirates Driving Company
Al Dhafra Insurance Co. P.S.
Dana Gas
Commercial Bank Internationa
Bank Of Sharjah
Abu Dhabi Natl Co For Buildi
Al Wathba National Insurance
Intl Fish Farming Co Pjsc
Arkan Building Materials Co
Aldar Properties Pjsc
Al Ain Ahlia Ins. Co.
Al Khazna Insurance Co
Agthia Group Pjsc
Al Fujairah National Insuran
Abu Dhabi Ship Building Co
Abu Dhabi National Insurance
Abu Dhabi National Hotels
Abu Dhabi Islamic Bank
Abu Dhabi Commercial Bank
Abu Dhabi Aviation
Lt Price
0.79
3.23
1.19
5.85
2.00
1.30
6.55
7.24
0.80
0.00
0.00
3.85
1.15
1.27
1.51
0.75
3.80
2.96
0.91
8.25
143.50
1.23
1.17
6.90
6.30
1.82
3.50
4.85
13.60
0.74
0.00
3.00
2.80
1.00
2.00
2.70
0.72
1.10
4.00
3.34
17.15
1.35
1.45
11.15
0.76
7.40
5.50
7.70
0.47
1.75
1.95
0.77
5.35
7.48
1.09
2.45
60.00
0.40
6.30
300.00
1.75
6.08
3.55
5.32
7.03
3.10
% Chg
0.00
3.19
0.00
5.79
0.00
8.33
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
5.56
-1.33
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1.85
0.00
0.00
-0.87
0.00
0.00
-0.45
0.00
5.71
0.00
0.00
0.00
0.00
0.00
-3.75
0.00
0.00
0.93
-0.41
0.00
0.00
0.32
0.00
0.00
0.00
0.00
0.38
-2.90
1.64
Volume
16,789,396
5,238,450
112,580
788,428
7,158,700
10,995
96,776
781,720
104,322
405,000
172,236
74,688
1,281,118
2,564,580
18,843,886
226,248
3,137,887
2,450,000
110,000
57,203
12,949,669
77,806
1,206,348
967,207
20,000
BAHRAIN
Company Name
United Paper Industries Bsc
United Gulf Investment Corp
United Gulf Bank
United Finance Co
Trafco Group Bsc
Takaful International Co
Taib Bank -$Us
Securities & Investment Co
Seef Properties
#N/A Invalid Security
Al-Salam Bank
Delmon Poultry Co
National Hotels Co
National Bank Of Bahrain
Nass Corp Bsc
Khaleeji Commercial Bank
Ithmaar Bank Bsc
Investcorp Bank -$Us
Inovest Co Bsc
Intl Investment Group-Kuwait
Gulf Monetary Group
Global Investment House Kpsc
Gulf Finance House Ec
Bahrain Family Leisure Co
Esterad Investment Co B.S.C.
Bahrain Duty Free Complex
Bahrain Car Park Co
Bahrain Cinema Co
Bahrain Tourism Co
Bahraini Saudi Bank/The
Bahrain National Holding
Bankmuscat Saog
Bmmi Bsc
Bmb Investment Bank
Bahrain Kuwait Insurance
Bahrain Islamic Bank
Gulf Hotel Group B.S.C
Bahrain Flour Mills Co
Bahrain Commercial Facilitie
Bbk Bsc
Bahrain Telecom Co
Bahrain Ship Repair & Engin
Albaraka Banking Group
Banader Hotels Co
Ahli United Bank B.S.C
Lt Price
0.00
0.00
0.00
0.00
0.22
0.00
0.00
0.00
0.20
0.00
0.12
0.00
0.00
0.85
0.18
0.04
0.17
451.60
0.00
0.00
0.00
0.00
0.00
0.00
0.22
0.88
`
1.54
0.23
0.00
0.48
0.00
0.87
0.00
0.00
0.15
0.85
0.00
0.00
0.47
0.33
0.00
0.81
0.00
0.81
% Chg
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3.49
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
4.85
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.61
0.00
1.89
0.00
1.90
Volume
25,097
10,000
37,659
10,000
10,000
100,000
90,000
10
27,934
6,000
102,460
40,000
5,200
22,566
12,016
1,882
13,346
5,000
18,295
535,000
LATEST MARKET CLOSING FIGURES
Gulf Times
Thursday, January 29, 2015
9
BUSINESS
DJIA
WORLD INDICES
Company Name
Exxon Mobil Corp
Microsoft Corp
Johnson & Johnson
Wal-Mart Stores Inc
General Electric Co
Procter & Gamble Co/The
Jpmorgan Chase & Co
Pfizer Inc
Chevron Corp
Verizon Communications Inc
Coca-Cola Co/The
Merck & Co. Inc.
At&T Inc
Intel Corp
Walt Disney Co/The
Visa Inc-Class A Shares
Intl Business Machines Corp
Home Depot Inc
Cisco Systems Inc
United Technologies Corp
Unitedhealth Group Inc
3M Co
Boeing Co/The
Mcdonald’s Corp
American Express Co
Nike Inc -Cl B
Goldman Sachs Group Inc
Du Pont (E.I.) De Nemours
Caterpillar Inc
Travelers Cos Inc/The
Lt Price
89.86
42.00
102.53
87.77
24.06
86.08
55.80
32.26
106.38
46.72
42.56
62.23
33.14
34.20
93.80
249.73
152.82
106.19
27.25
118.42
109.71
164.58
140.09
89.65
82.90
94.36
176.60
72.57
80.95
106.08
% Chg
-1.20
-1.56
0.43
0.27
-1.31
-0.47
-0.71
-1.06
-1.74
0.80
0.40
-0.53
1.01
0.04
-0.18
-0.50
-0.55
0.98
1.30
-0.62
-0.27
0.58
5.74
0.08
0.61
-0.15
0.06
-0.83
1.38
0.03
5,802,001
28,999,730
3,079,002
1,495,351
18,215,099
5,386,706
6,306,386
11,466,479
3,439,979
7,053,559
3,832,361
2,436,692
19,037,616
12,356,503
1,801,022
879,182
1,399,854
1,781,637
12,782,435
1,448,860
1,484,846
918,712
6,516,746
2,170,186
1,739,951
1,016,915
938,976
1,463,246
6,480,452
550,077
FTSE 100
Company Name
Wpp Plc
Wolseley Plc
Wm Morrison Supermarkets
Whitbread Plc
Weir Group Plc/The
Vodafone Group Plc
United Utilities Group Plc
Unilever Plc
Tullow Oil Plc
Tui Ag-New
Tui Ag-Di
Travis Perkins Plc
Tesco Plc
Taylor Wimpey Plc
Standard Life Plc
Standard Chartered Plc
St James’s Place Plc
Sse Plc
Sports Direct International
Smiths Group Plc
Smith & Nephew Plc
Sky Plc
Shire Plc
Severn Trent Plc
Schroders Plc
Sainsbury (J) Plc
Sage Group Plc/The
Sabmiller Plc
Rsa Insurance Group Plc
Royal Mail Plc
Royal Dutch Shell Plc-B Shs
Royal Dutch Shell Plc-A Shs
Royal Bank Of Scotland Group
Rolls-Royce Holdings Plc
Rio Tinto Plc
Reed Elsevier Plc
Reckitt Benckiser Group Plc
Randgold Resources Ltd
Prudential Plc
Persimmon Plc
Pearson Plc
Old Mutual Plc
Next Plc
National Grid Plc
Mondi Plc
Meggitt Plc
Marks & Spencer Group Plc
London Stock Exchange Group
Lloyds Banking Group Plc
Legal & General Group Plc
Land Securities Group Plc
Kingfisher Plc
Johnson Matthey Plc
Itv Plc
Intu Properties Plc
Intl Consolidated Airline-Di
Intertek Group Plc
Intercontinental Hotels Grou
Imperial Tobacco Group Plc
Hsbc Holdings Plc
Hargreaves Lansdown Plc
Hammerson Plc
Glencore Plc
Glaxosmithkline Plc
Gkn Plc
G4s Plc
Friends Life Group Ltd
Fresnillo Plc
Experian Plc
Easyjet Plc
Dixons Carphone Plc
Direct Line Insurance Group
Diageo Plc
Crh Plc
Compass Group Plc
Coca-Cola Hbc Ag-Cdi
Centrica Plc
Carnival Plc
Capita Plc
Burberry Group Plc
Bunzl Plc
Bt Group Plc
British Land Co Plc
British American Tobacco Plc
Bp Plc
Bhp Billiton Plc
Bg Group Plc
Barratt Developments Plc
Barclays Plc
Bae Systems Plc
Babcock Intl Group Plc
Aviva Plc
Astrazeneca Plc
Associated British Foods Plc
Ashtead Group Plc
Arm Holdings Plc
Antofagasta Plc
Anglo American Plc
Aggreko Plc
Admiral Group Plc
Aberdeen Asset Mgmt Plc
3I Group Plc
Lt Price
1,450.00
3,881.00
185.80
4,997.00
1,672.00
236.80
1,032.00
2,888.00
356.00
1,147.00
1,176.00
1,926.00
227.20
134.40
404.00
902.90
856.50
1,580.00
709.50
1,114.00
1,188.00
937.00
4,873.00
2,165.00
2,912.00
261.90
481.70
3,591.00
459.20
437.30
2,238.50
2,146.00
374.10
881.50
2,885.50
1,142.00
5,610.00
5,575.00
1,639.00
1,575.00
1,340.00
208.10
7,225.00
949.50
1,173.00
542.00
476.40
2,379.00
74.57
269.40
1,286.00
349.00
3,380.00
222.50
367.70
559.00
2,280.00
2,649.00
3,094.00
617.20
993.50
695.50
257.15
1,495.00
367.80
286.70
400.80
907.00
1,181.00
1,762.00
428.40
314.90
1,956.00
1,621.00
1,141.00
1,070.00
287.50
3,057.00
1,115.00
1,784.00
1,917.00
425.70
836.00
3,769.50
431.45
1,421.00
895.00
456.60
236.25
512.00
996.50
530.00
4,734.00
3,112.00
1,116.00
1,047.00
673.00
1,112.00
1,529.00
1,455.00
443.70
462.60
% Chg
-0.68
-0.23
-6.40
-0.06
1.95
0.04
1.67
0.07
-3.81
1.33
1.20
0.94
-1.32
0.67
0.02
-4.12
-0.17
2.27
0.14
-0.27
1.11
-0.43
0.83
0.65
1.39
-3.11
-0.48
4.51
-0.95
-0.66
-2.10
-2.05
-0.58
0.28
0.45
-0.78
1.72
-0.36
1.39
1.29
1.44
1.61
0.98
1.12
-0.09
0.65
0.36
1.10
-0.75
1.81
1.26
0.00
-3.35
-1.51
0.93
-0.36
0.53
-2.75
0.65
-0.13
-0.95
1.68
1.18
0.74
-0.33
0.42
-0.79
-0.33
1.37
-1.51
2.15
0.35
0.72
-0.18
-0.35
-0.37
1.70
-0.42
2.01
1.13
-0.31
0.85
1.52
0.36
-2.08
0.25
-2.66
0.91
-1.34
1.19
-1.53
-0.38
0.19
0.48
1.00
1.55
-2.96
2.02
-0.84
0.83
-0.09
-0.15
Volume
2,944,293
374,230
18,523,040
325,681
786,227
35,934,970
1,468,022
2,435,364
5,558,812
673,274
647,172
339,176
16,549,888
10,322,163
1,997,622
11,295,502
611,611
2,182,366
581,129
725,956
2,321,559
4,831,088
790,603
957,224
216,584
7,698,605
6,619,782
2,818,766
3,101,831
1,826,554
4,587,938
7,366,610
5,638,381
4,901,718
6,707,523
2,786,444
1,333,047
461,223
1,697,397
1,028,914
1,900,958
5,565,896
214,870
7,740,243
1,537,000
648,500
3,177,334
332,440
155,665,684
7,156,508
2,168,924
6,616,030
1,465,185
11,680,341
1,671,614
5,247,166
549,865
659,124
1,401,511
14,145,283
747,226
2,705,174
22,649,561
5,122,546
3,335,350
1,622,556
9,180,968
839,394
2,625,142
1,315,119
4,218,820
2,437,114
4,505,849
1,573,770
2,337,794
345,482
14,736,229
542,498
1,170,238
779,012
481,080
6,563,163
1,713,331
1,739,185
28,866,853
4,951,179
12,373,290
2,133,839
20,616,616
4,410,798
1,451,935
9,941,020
1,688,323
345,443
1,509,008
3,682,333
5,182,292
4,072,844
359,513
479,326
1,964,442
892,049
TOKYO
Company Name
Inpex Corp
Daiwa House Industry Co Ltd
Sekisui House Ltd
Kirin Holdings Co Ltd
Japan Tobacco Inc
Seven & I Holdings Co Ltd
Toray Industries Inc
Asahi Kasei Corp
Sumitomo Chemical Co Ltd
Shin-Etsu Chemical Co Ltd
Mitsubishi Chemical Holdings
Kao Corp
Takeda Pharmaceutical Co Ltd
Astellas Pharma Inc
Eisai Co Ltd
Daiichi Sankyo Co Ltd
Fujifilm Holdings Corp
Shiseido Co Ltd
Jx Holdings Inc
Lt Price
1,306.50
2,235.50
1,515.00
1,577.50
3,332.50
4,360.00
1,011.50
1,166.50
488.00
8,002.00
616.50
5,078.00
5,805.00
1,809.00
5,483.00
1,683.50
3,836.00
1,832.50
443.30
% Chg
-0.91
-0.58
-1.72
1.32
0.44
1.40
1.25
0.43
4.50
-0.66
1.38
-1.15
0.31
-0.06
0.75
2.50
0.26
1.55
-0.40
Indices
Volume
Volume
5,094,500
1,282,100
6,213,000
4,179,000
3,741,100
3,601,800
10,613,000
4,915,000
11,803,000
1,106,900
8,084,800
2,360,000
2,867,800
6,519,600
1,372,300
5,362,400
2,552,300
2,447,500
8,374,100
Lt Price
Change
Dow Jones Indus. Avg
S&P 500 Index
Nasdaq Composite Index
S&P/Tsx Composite Index
Mexico Bolsa Index
Brazil Bovespa Stock Idx
Ftse 100 Index
Cac 40 Index
Dax Index
Ibex 35 Tr
17,445.55
2,028.49
4,698.09
14,764.85
42,629.81
47,951.13
6,811.03
4,598.85
10,689.13
10,431.90
+58.34
-1.06
+16.59
-69.03
+1.99
-640.10
-0.58
-25.36
+60.55
-167.00
Nikkei 225
Japan Topix
Hang Seng Index
All Ordinaries Indx
Nzx All Index
Bse Sensex 30 Index
Nse S&P Cnx Nifty Index
Straits Times Index
Karachi All Share Index
Jakarta Composite Index
17,795.73
1,429.92
24,861.81
5,516.56
1,164.64
29,559.18
8,914.30
3,419.15
24,725.31
5,268.85
+27.43
+3.54
+54.53
+5.09
+10.76
-11.86
+3.80
+6.95
-135.65
-8.30
A man walks past stock market information displays at the Hellenic Exchange in Athens. Greek stocks tumbled by 9.2%
yesterday, with the banks plunging by a quarter or more, and yields on Greek 10-year bonds also rose above the symbolic
barrier of 10%.
TOKYO
Company Name
Bridgestone Corp
Asahi Glass Co Ltd
Nippon Steel & Sumitomo Meta
Sumitomo Metal Industries
Kobe Steel Ltd
Jfe Holdings Inc
Sumitomo Metal Mining Co Ltd
Sumitomo Electric Industries
Smc Corp
Komatsu Ltd
Kubota Corp
Daikin Industries Ltd
Hitachi Ltd
Toshiba Corp
Mitsubishi Electric Corp
Nidec Corp
Nec Corp
Fujitsu Ltd
Panasonic Corp
Sharp Corp
Sony Corp
Tdk Corp
Keyence Corp
Denso Corp
Fanuc Corp
Rohm Co Ltd
Kyocera Corp
Murata Manufacturing Co Ltd
Nitto Denko Corp
Mitsubishi Heavy Industries
Nissan Motor Co Ltd
Toyota Motor Corp
Honda Motor Co Ltd
Suzuki Motor Corp
Nikon Corp
Hoya Corp
Canon Inc
Ricoh Co Ltd
Dai Nippon Printing Co Ltd
Nintendo Co Ltd
Itochu Corp
Marubeni Corp
Mitsui & Co Ltd
Tokyo Electron Ltd
Sumitomo Corp
Mitsubishi Corp
Aeon Co Ltd
Mitsubishi Ufj Financial Gro
Resona Holdings Inc
Sumitomo Mitsui Trust Holdin
Sumitomo Mitsui Financial Gr
Bank Of Yokohama Ltd/The
Mizuho Financial Group Inc
Orix Corp
Daiwa Securities Group Inc
Nomura Holdings Inc
Sompo Japan Nipponkoa Holdin
Ms&Ad Insurance Group Holdin
Dai-Ichi Life Insurance
Tokio Marine Holdings Inc
T&D Holdings Inc
Mitsui Fudosan Co Ltd
Mitsubishi Estate Co Ltd
Sumitomo Realty & Developmen
East Japan Railway Co
West Japan Railway Co
Central Japan Railway Co
Ana Holdings Inc
Nippon Telegraph & Telephone
Kddi Corp
Ntt Docomo Inc
Tokyo Electric Power Co Inc
Chubu Electric Power Co Inc
Kansai Electric Power Co Inc
Tohoku Electric Power Co Inc
Kyushu Electric Power Co Inc
Tokyo Gas Co Ltd
Secom Co Ltd
Yamada Denki Co Ltd
Fast Retailing Co Ltd
Softbank Corp
Lt Price
4,698.00
623.00
294.70
0.00
217.00
2,623.50
1,708.50
1,527.00
31,925.00
2,587.00
1,784.00
8,267.00
913.00
474.40
1,369.50
8,142.00
363.00
643.80
1,400.00
236.00
2,824.00
7,430.00
56,200.00
5,341.00
20,835.00
7,640.00
5,360.00
12,980.00
7,202.00
652.00
1,048.50
7,818.00
3,648.50
3,794.00
1,532.00
4,500.00
3,942.50
1,176.50
1,096.50
12,300.00
1,218.00
663.00
1,536.00
8,555.00
1,192.00
2,118.50
1,254.00
640.10
602.00
415.00
4,081.50
643.90
198.60
1,431.50
879.70
633.10
3,136.50
2,900.00
1,637.00
4,121.00
1,367.50
3,110.00
2,438.50
3,916.00
9,272.00
6,130.00
20,390.00
325.10
6,948.00
8,367.00
2,009.00
505.00
1,480.00
1,128.50
1,459.00
1,093.00
706.40
6,850.00
459.00
43,600.00
7,440.00
% Chg
0.11
1.30
0.17
0.00
1.40
-0.63
-1.19
-0.42
-0.34
-2.27
-1.60
-2.04
-0.76
-0.23
-2.53
0.21
-0.27
-1.57
2.00
4.42
2.73
-1.20
0.21
-1.98
-0.50
0.39
0.30
-0.08
-0.32
-0.81
-0.14
-0.09
-1.55
-1.21
0.13
-0.48
0.19
-1.18
1.15
-0.12
0.25
-0.88
-0.71
-1.88
-0.71
-0.80
0.28
-0.42
0.25
-1.57
-2.13
0.50
-0.70
0.70
-0.79
-0.16
2.84
0.97
-1.18
0.12
0.29
-0.29
0.87
0.86
-0.23
0.62
2.13
3.30
1.28
0.50
1.57
2.02
3.97
-0.31
2.03
-0.18
0.21
-0.09
7.75
1.02
0.42
Volume
2,554,100
8,565,000
31,626,000
51,425,000
2,630,100
3,557,000
3,235,400
219,400
6,459,100
4,232,000
2,002,600
18,224,000
18,962,000
13,054,000
1,357,100
18,448,000
11,179,000
9,018,800
46,440,000
15,429,200
1,176,200
117,000
2,045,500
1,001,200
403,500
1,289,800
1,156,100
1,226,100
16,123,000
7,884,200
9,490,300
5,318,500
1,360,200
3,326,200
2,073,600
3,754,500
3,858,500
2,733,000
617,400
5,694,200
17,680,300
9,614,000
875,500
4,429,400
4,462,500
4,423,900
49,100,700
8,071,700
20,741,000
11,048,600
4,281,000
105,290,100
8,720,400
6,788,000
14,476,400
1,769,000
1,411,500
4,524,100
2,414,300
2,750,900
4,184,000
4,401,000
2,054,000
1,058,400
813,300
581,200
28,731,000
3,508,900
1,964,400
7,543,600
55,317,100
4,067,800
3,570,900
2,484,800
3,368,600
8,625,000
764,400
35,854,300
582,300
6,806,000
SENSEX
Company Name
Zee Entertainment Enterprise
Wipro Ltd
Ultratech Cement Ltd
Tech Mahindra Ltd
Tata Steel Ltd
Tata Power Co Ltd
Tata Motors Ltd
Tata Consultancy Svcs Ltd
Sun Pharmaceutical Indus
State Bank Of India
Sesa Sterlite Ltd
Reliance Industries Ltd
Punjab National Bank
Power Grid Corp Of India Ltd
Oil & Natural Gas Corp Ltd
Ntpc Ltd
Nmdc Ltd
Maruti Suzuki India Ltd
Mahindra & Mahindra Ltd
Lupin Ltd
Larsen & Toubro Ltd
Kotak Mahindra Bank Ltd
Jindal Steel & Power Ltd
Itc Ltd
Infosys Ltd
Indusind Bank Ltd
Idfc Ltd
Icici Bank Ltd
Housing Development Finance
Hindustan Unilever Ltd
Hindalco Industries Ltd
Hero Motocorp Ltd
Hdfc Bank Limited
Hcl Technologies Ltd
Grasim Industries Ltd
Gail India Ltd
Dr. Reddy’s Laboratories
Dlf Ltd
Coal India Ltd
Cipla Ltd
Cairn India Ltd
Bharti Airtel Ltd
Bharat Petroleum Corp Ltd
Bharat Heavy Electricals
Bank Of Baroda
Bajaj Auto Ltd
Axis Bank Ltd
Asian Paints Ltd
Ambuja Cements Ltd
Acc Ltd
Lt Price
387.30
607.25
3,139.75
2,873.35
391.15
88.00
589.20
2,539.60
909.75
334.60
201.15
906.85
206.70
149.45
353.90
142.85
140.95
3,725.80
1,316.30
1,515.50
1,698.35
1,351.15
155.10
362.30
2,144.55
868.75
172.90
384.05
1,344.60
933.85
140.15
2,865.10
1,058.35
1,659.40
3,894.70
418.80
3,239.05
163.05
383.80
703.55
235.70
373.60
706.25
279.25
223.55
2,398.80
590.60
910.25
249.05
1,543.80
% Chg
-0.68
1.45
0.59
2.01
-1.82
-1.12
-2.54
1.50
-0.46
1.38
-2.97
2.00
1.00
-0.33
1.04
-0.21
-0.14
1.03
-0.62
-0.57
-2.51
-2.68
-2.45
0.60
0.38
0.64
-0.12
0.14
2.18
-0.86
-1.65
0.26
-1.46
2.66
1.16
-0.08
0.83
3.26
0.30
-0.50
-1.42
-5.23
2.05
-0.94
0.27
-0.87
-0.25
2.22
-0.46
0.99
Volume
2,137,574
3,234,347
253,436
647,656
4,656,478
4,673,745
8,645,465
1,646,861
2,090,442
20,990,602
4,195,513
4,809,309
7,118,390
3,581,829
4,936,207
5,908,287
2,707,941
742,705
885,894
693,284
2,516,727
3,769,582
4,304,668
8,554,837
3,367,602
1,011,400
11,167,165
14,335,085
5,612,491
2,895,901
9,529,373
435,522
3,240,860
1,088,005
128,298
1,422,023
263,189
13,283,956
2,753,099
1,532,580
3,158,286
4,329,386
2,131,165
5,276,038
3,378,064
981,116
7,116,289
3,093,806
2,796,358
432,405
Europe stock markets shrug
off Greece as focus on Fed
AFP
London
G
reek stocks took a hammering after the country’s new
anti-austerity
government
pressed home demands for debt relief
and rolled back the privatisation programme, but European markets largely
shrugged it off as they focused on the
US Federal Reserve.
London’s FTSE 100 rising 0.21% to
end the day at 6,825.94 points, while
in Paris the CAC 40 shed 0.29% to
4,610.94 points.
However Frankfurt’s DAX 30 index
rose 0.78% to 10,710.97 points as German consumer confidence rose to a
more than 14-year high.
“The upcoming January meeting of
the Federal Reserve has given pause
to European markets after the recent
run up with fighting talk out of Athens
adding some ‘eurozone break-up’ jitters into the mix,” said CMC Markets
UK analyst Jasper Lawler.
“A massive risk-off scenario across
Europe because of the problems in
Greece is definitely possible in the near
future but for now it is being contained
within Greece with Greek bank shares
and Greek government bonds getting
sold off heavily,” he added.
Greek stocks tumbled by 9.2%,
with the banks plunging by a quarter
or more, and yields on Greek 10-year
bonds also rose above the symbolic
barrier of 10%.
Piraeus Bank lost nearly 29%, Alpha
Bank was down around 26% and Na-
tional Bank and Eurobank shed around
25%.
The lenders are currently eligible
for special ECB support to help ensure
that they don’t run into liquidity problems from nervous Greeks pulling their
money out of the banks, and could be
highly exposed in a showdown between Athens and its creditors.
Greek voters over the weekend
handed a decisive victory to radical
left party Syriza, putting the country
on a collision course with the EU and
international creditors over its bailout
and giving rise to fears that the country
could exit the eurozone - what is being
dubbed a “Grexit”.
Prime Minister Alexis Tsipras yesterday told his cabinet that Greece
would seek a “fair, mutually beneficial
solution” with its EU peers to renegotiate its €240bn ($269bn) EU-IMF
bailout and make its huge debt socially
manageable.
In a speech to the cabinet – his first
since taking office – the 40-year-old
premier however insisted that Greece’s
new leaders were no longer willing to
bow to the “politics of submission”, in
a clear swipe at Brussels and the International Monetary Fund.
And in another move, the government halted the privatisation of
Greece’s main port, Piraeus, which
Chinese shipping giant COSCO had
planned to turn into its new European
hub.
Greece’s previous conservative government had planned to sell 67% of the
port authority. The tender had a March
deadline for the submission of offers.
HONG KONG
HONG KONG
Company Name
Aluminum Corp Of China Ltd-H
Bank Of East Asia
Bank Of China Ltd-H
Bank Of Communications Co-H
Belle International Holdings
Boc Hong Kong Holdings Ltd
Cathay Pacific Airways
Cheung Kong Holdings Ltd
China Coal Energy Co-H
China Construction Bank-H
China Life Insurance Co-H
China Merchants Hldgs Intl
China Mobile Ltd
China Overseas Land & Invest
China Petroleum & Chemical-H
China Resources Enterprise
China Resources Land Ltd
China Resources Power Holdin
China Shenhua Energy Co-H
China Unicom Hong Kong Ltd
Citic Ltd
Clp Holdings Ltd
Cnooc Ltd
Cosco Pacific Ltd
Esprit Holdings Ltd
Fih Mobile Ltd
Hang Lung Properties Ltd
Hang Seng Bank Ltd
Henderson Land Development
Meanwhile the euro dropped to
$1.1342 from $1.1380 late in New York
on Tuesday.
US stocks were marking time ahead
of the end of the Fed’s meeting despite
solid corporate earnings.
The Dow Jones Industrial Average
rose 0.21% to 17,423.49 points, while
the broad-based S&P 500 edged up
0.03% to 2,030.21 and the tech-rich
Nasdaq Composite Index climbed
0.22% to 4,691.92.
Investors are eyeing the conclusion
of a two-day Federal Reserve meeting
and the release of a policy statement
that will be scrutinised for signals on
when the central bank could raise interest rates.
“If the Fed demonstrates concern over
slowing global growth or inflation in its
statement, that will be taken as dovish...
(and) will probably be seen as positive
by markets, at least initially,” said CMC
Markets UK analyst Jasper Lawler.
Strong earnings reports from technology giant Apple and aerospace
powerhouse Boeing were providing
support to the market .
Apple bolted 7% higher after disclosing that first-quarter profits were
a record $18bn on booming sales of
big-screen iPhone models, especially
in China.
Dow member Boeing followed suit,
rising 6.3% after reporting that fourthquarter profits rose 18.9% to $1.5bn on
strong commercial aircraft deliveries.
The robust earnings reversed negative momentum from Tuesday, when a
stream of disappointing profit reports
sent markets sharply lower.
Lt Price
3.69
31.90
4.45
6.62
8.94
26.90
17.96
145.30
4.29
6.35
31.25
28.45
103.40
23.80
6.24
17.34
21.00
22.80
21.45
12.00
13.50
69.15
10.46
11.30
8.76
3.58
22.70
135.00
55.40
% Chg
-1.34
0.63
0.23
-2.22
1.25
0.19
0.22
0.76
-0.46
0.95
-2.04
-0.87
0.68
-1.24
0.48
-1.59
0.48
6.54
1.18
-0.17
0.15
0.22
-0.19
-0.88
2.10
-1.10
3.42
-0.22
-0.81
Volume
13,104,228
1,206,358
206,307,371
51,325,945
13,836,849
5,743,604
2,382,550
3,986,473
16,726,053
249,519,700
52,707,975
2,802,803
15,715,412
17,584,043
71,987,838
3,280,146
6,244,905
14,820,825
16,773,568
14,590,317
6,335,115
2,117,715
63,251,873
2,639,638
5,173,673
3,334,646
7,893,846
1,607,421
5,401,837
Company Name
Hong Kong & China Gas
Hong Kong Exchanges & Clear
Hsbc Holdings Plc
Hutchison Whampoa Ltd
Ind & Comm Bk Of China-H
Li & Fung Ltd
Mtr Corp
New World Development
Petrochina Co Ltd-H
Ping An Insurance Group Co-H
Power Assets Holdings Ltd
Sino Land Co
Sun Hung Kai Properties
Swire Pacific Ltd-A
Tencent Holdings Ltd
Wharf Holdings Ltd
Lt Price
17.82
179.40
73.00
101.60
5.72
7.80
33.70
9.17
8.60
84.85
81.90
13.12
127.90
104.10
136.90
62.50
% Chg
-0.11
-0.39
-0.41
0.40
-0.17
0.13
0.15
0.22
-1.15
-1.11
0.86
1.08
1.27
0.68
0.66
1.54
Volume
6,562,483
3,488,977
13,587,069
3,862,357
169,511,732
28,657,292
1,907,177
11,238,303
100,493,816
21,099,511
2,691,396
5,705,773
5,026,994
990,250
16,216,906
4,210,747
GCC INDICES
Indices
Doha Securities Market
Saudi Tadawul
Kuwait Stocks Exchange
Bahrain Stock Exchage
Oman Stock Market
Abudhabi Stock Market
Dubai Financial Market
Lt Price
11,980.66
8,912.50
6,636.59
1,424.02
6,584.07
4,516.12
3,736.30
Change
+60.18
+226.34
+21.15
+6.62
-7.66
-14.08
+15.91
“Information contained herein is believed to be reliable and had been obtained from sources believed to be reliable. The
accuracy and completeness cannot be guaranteed. This publication is for providing information only and is not intended
as an offer or solicitation for a purchase or sale of any of the financial instruments mentioned. Gulf Times and Doha Bank
or any of their employees shall not be held accountable and will not accept any losses or liabilities for actions based on
this data.”
CURRENCIES
DOLLAR
QATAR RIYAL
SAUDI RIYAL
UAE DIRHAMS
BAHRAINI
DINAR
KUWAITI
DINAR
Gulf Times
Thursday, January 29, 2015
13
BUSINESS
CORPORATE RESULTS
Apple profit hits record $18bn on booming iPhone sales
payout ratio of 75% was possible if lending growth
remained at current levels of 4% per year.
Clausen said the years of having to meet increased
capital requirements had probably come to an end
for now. The bank already complies with Sweden’s
capital rules, which are some of the toughest in
the world. He also said he did not expect increased
loan losses in coming quarters linked to the fall in
oil prices.
“We have done the numbers on each individual
customer. It is typically very large companies that
are very well capitalised and pretty resilient even at
these levels.”
Operating profit in the quarter rose 15% compared
to last year to €1.16bn, driven by lower costs and
improved net commission income. This was in line
with a mean forecast of €1.15bn in a Reuters poll of
analysts.
H&M
Apple’s quarterly profit rocketed to a corporate
record $18bn at the end of last year on booming
sales of big-screen iPhone models, especially in
China.
The California tech titan also announced on Tuesday that it had sold its one billionth device powered
by its iOS mobile operating system, on a day of dizzying figures — even by Apple’s high standards.
And it said that its highly anticipated Apple Watch
wearable devices, unveiled last year to fanfare, are
on track to begin shipping in April.
“We’d like to thank our customers for an incredible
quarter which saw demand for Apple products soar
to an all-time high,” declared chief executive Tim
Cook.
“Demand for iPhone has been staggering, shattering our expectation.”
The record quarterly profit — on unprecedented
revenue of $74.6bn — was driven by the sale of
74.5mn iPhones, well ahead of most analysts’
expectations.
As well as the larger screen iPhone 6 models,
analysts credited a partnership with China Mobile
as powering sales.
Sales of iPhones doubled in Greater China, its
number two smartphone market, according to chief
financial officer Luca Maestri.
Cook described the fevered excitement around the
debut of iPhone 6 models in China as “phenomenal.”
“We are a big believer in China,” Cook said. “It is an
incredible market. I think people there love Apple
products.”
But it was not just China: iPhone sales leapt 44% in
the US and doubled in Brazil.
Sales of iPads dipped, but Apple set new records in
the quarter for sales of Macintosh computers and
revenue from digital goods bought from its App
Store.
Cook also said Apple is seeing rapid adoption of
the Apple Pay mobile financial transactions system,
which is synched to the latest generation of iPhone.
Apple Pay is limited to the US, but the company has
been barraged with requests for it from businesses
in other countries, according to Cook.
Apple’s board of directors declared a cash dividend
of 47¢ per share to be paid on February 12.
with a mean forecast in a Reuters poll of analysts.
“Sequentially, we expect the demand to be relatively unchanged for the group. However, the shortterm demand effects of the very low mineral and oil
prices as well as the recent currency movements,
with a stronger dollar, are difficult to predict,” the
company said in a statement.
Gothenburg-based SKF, a rival of Germany’s Schaeffler and dollar-based US manufacturer Timken, is
benefiting from a weaker Swedish crown which has
eased 5% in trade weighted terms and more than
20% against the dollar over the past six months.
CEO Alrik Danielson, at the helm since the turn
of the year, faces the challenge of meeting a 15%
margin target and has to decide whether to remain
committed to SKF’s automotive business.
Rockwell Automation
Rockwell Automation, which makes automation
systems that help factories run smoothly, lowered
its 2015 revenue and profit forecast, anticipating
the impact of a stronger dollar and lower oil prices.
Rockwell, which received almost half of its revenue
from outside the US in the previous financial year,
cut its full-year revenue forecast to $6.6bn from
$6.8bn.
The company cut its adjusted earnings forecast to
$6.50-$6.80 per share from $6.55-$6.95.
Analysts on average were expecting a profit of
$6.64 per share on revenue of $6.73bn, according to
Thomson Reuters I/B/E/S.
The US dollar, which has surged about 20% against
its major trading partners since early May, pared
Rockwell’s sales by 3.4% for the first quarter ended
December 31.
Sales in the company’s larger control products business, which makes motor starters, push buttons
and condition sensors, fell 3.3%.
Revenue fell 1% to $1.57bn. Cost of sales fell 4.4% to
$886.9mn.
Net income from continuing operation rose to
$214.2mn, or $1.56 per share, from $198.1mn, or $1.41
per share, a year earlier.
On an adjusted basis, Rockwell earned $1.64 per
share.
Analysts had expected earnings of $1.49 per share
on revenue $1.56bn.
IKEA
IKEA Group, the world’s biggest furniture retailer,
expects a rise in European revenues to continue
this financial year, with its focus on low prices helping it to cope in a struggling economy.
The privately-held Swedish company, which makes
almost 70% of sales in Europe, said yesterday
demand in previously crisis-hit countries such as
Portugal, Spain and Italy had picked up in its financial year ending August 2014.
“We’ve seen a strengthening situation where
consumer spending continues to increase, more
people visiting the stores and buying more home
furniture,” CEO Peter Agnefjall told Reuters at the
firm’s Wembley store, north of London. “We don’t
see any indication that that trend should change as
we speak,” he said.
Agnefjall said IKEA, known for its flat-pack, selfassembly furniture, did not fear deflation because
its business model was focused on keeping prices
down.
Lower purchasing and transport costs helped it to
reduce prices by an average of 1% in 2013-14.
However, a weak Europe remains a challenge for
a group aiming to grow sales to €50bn by 2020,
which would require an increase of 9-10% a year —
well ahead of the current growth rate.
Agnefjall said that goal was a “guiding rail” rather
than a “target hammered in stone”.
IKEA, which has 222 of its 315 stores in Europe,
had previously said sales rose 5.9% in 2013-14 to
€28.7bn, with stores open a year or more accounting for 3.6%.
It said yesterday that, with rental income from its
shopping centres, total revenue was €29.3bn, a
2.8% increase. It did not give a separate figure for
Europe.
Net profit was flat at €3.3bn, held back by a 200mn
contribution to an employee loyalty programme
and more staff taking part in a bonus programme.
IKEA, whose biggest single markets are Germany,
the US and France, said it grew share in almost all
of its 27 territories. China, Russia and Hungary were
the fastest growing.
Boeing
Boeing, the world’s biggest plane maker, reported
a 19% rise in quarterly profit, helped by booming
demand for commercial aircraft.
The company forecast operating cash flow, a metric
closely watched by investors, of more than $9bn for
2015, up from $8.86bn reported for 2014.
Boeing’s shares rose about 4% in premarket trading.
The company’s jetliner deliveries rose to 723 in
2014 from 648 the previous year, topping those by
rival Airbus Group.
Commercial aircraft deliveries rose 13% to 195 in the
fourth quarter ended Dec. 31.
Boeing’s net profit rose to $1.47bn, or $2.02 per
share, in the quarter from $1.23bn, or $1.61 per
share, a year earlier.
Core earnings, which exclude pension and other
costs, rose to $2.31 per share from $1.88.
Revenue increased by 3% to $24.47bn.
Boeing forecast core earnings of $8.20-8.40 per
share for 2015.
General Dynamics
General Dynamics Corp, maker of Gulfstream jets,
tanks and US Navy ships, reported a 42% jump in
fourth-quarter profit and said quarterly aircraft orders were at their highest in more than three years.
The company said operating margins rose to 12.8%
in the quarter from 11.5% a year earlier.
General Dynamics said yesterday it returned about
$4.2bn to shareholders through stock repurchases
and dividends in 2014, more than triple the amount
paid the previous year.
Lockheed Martin Corp, which reported an 8.6% rise
in quarterly revenue on Tuesday, said it planned to
return at least $2bn through stock buyback in 2015.
General Dynamics’ net income rose to $701mn,
or $2.09 per share, in the fourth quarter, from
$495mn, or $1.40 per share, a year earlier.
Revenue increased 4% to $8.36bn.
Analysts on average expected revenue of $8.04bn,
according to Thomson Reuters I/B/E/S.
SKF
SKF, the world’s biggest bearings maker, said yesterday it would cut about 1,500 staff as its new boss
takes action to rein in costs across the Swedish
company, sending its shares up 4%.
The company, whose bearings are found in products ranging from skateboards to wind turbines,
said the brunt of the staff cuts would be carried out
this year and yield 1.2bn crowns of savings by the
end of next year.
SKF forecast flat demand in Europe and Latin
America in the first quarter after reporting adjusted
fourth-quarter operating profit of 2.1bn Swedish
crowns ($257mn) up from 1.8bn a year ago, in line
Nordea
Nordea, the Nordic region’s biggest bank by market
value, raised its dividend by 44% after reporting
higher fourth-quarter profits and said further
payout increases were possible this year, sending
its shares to a record high.
The bank, flush with cash after years of building
capital reserves, raised its proposed dividend to
€0.62 per share, from 0.43 last year, representing
a payout ratio of around 70% of profits. Analysts
had expected a dividend of €0.57 a share. “We
expect to be able to raise dividends further,” chief
executive Christian Clausen told Reuters. He said a
Hennes & Mauritz, the world’s No 2 fashion retailer,
missed quarterly earnings forecasts as it spent
heavily on new ranges and websites in its battle
with cut-price rivals, a drive it plans to extend in
2015 with a new beauty line.
H&M Chief Executive Karl-Johan Persson said
yesterday long-term investment costs would rise
400-600mn Swedish crowns ($49-73mn) this year
after an 850mn increase last year, as it launches
websites in nine more markets and a new range of
beauty products.
The company, which does not give a figure for total
investments, said pretax profit for the three months
ended November rose 7% to 7.80bn crowns, missing analysts’ average forecast of 7.96bn, due in part
to booking a staff incentive payout.
H&M said markdowns in its fiscal fourth quarter
were lower than the year before, while it expects
markdown levels to be roughly the same as a year
ago in the first quarter.
H&M plans around a hundred new homewear departments and will launch a new range of make-up,
body care and hair care in the autumn in around
900 stores and online.
Petrobras
Brazil’s Petrobras released unaudited third-quarter
results yesterday after months of delays, but the
state-run oil company left investors in the dark over
the financial impact of a multibillion-dollar corruption scandal.
Petroleo Brasileiro, as Petrobras is formally known,
reported a net profit of 3.09bn reais ($1.20bn),
down about 9% from a year earlier. It had planned
to publish the results in November but had to delay
the release after a stream of corruption allegations
involving the company snowballed into a nationwide scandal.
The much-anticipated results, however, did not
include what investors most want to know: a rough
estimate of how badly corruption overvalued the
company’s assets.
Chief executive officer Maria das Graças Foster acknowledged that graft and other corruption-related
spending had been unduly booked in the past as
legitimate costs and thus would have to be revised.
The results were first delayed after auditor
PricewaterhouseCooopers declined to certify
Petrobras’ accounts due to the allegations. Since
then, the company has been under pressure to at
least release unaudited results to comply with bond
covenants, but it remains to be seen if yesterday’s
statement will satisfy debtholders.
Adjusted third-quarter earnings before interest,
taxes, depreciation and amortization fell about 10%
to 11.735bn reais from a year earlier, the company
said.
Petrobras said falling oil prices, which reduce the
cost of fuel it imports for the Brazilian market,
helped its cash position, giving it “room” to cover
operational needs over the course of the year.
Electrolux
Swedish white goods maker Electrolux said yesterday its profits tripled in 2014 as it looks to North
America for growth with the acquisition of General
Electrics’ appliance division.
Electrolux’s annual earnings soared to 2.24 billion
kronor ($273mn, €240mn).
The company had struggled to turn a profit for
18 months before its cost-cutting programme —
including about 2,000 layoffs — turned results
around in the third quarter last year.
“The initiatives to restore profitability in our operations in Europe continue to show good results,”
chief executive Keith McLoughlin said in a statement.
With its purchase of GE Appliances, the Swedish
is looking to get a bigger share of the US market,
where it recorded an 8-percent rise in demand for
white goods in the fourth quarter of 2014.
Electrolux predicted it will grow faster in North
America than in Europe this year.
Annual turnover increased by 3% to 112.1 billion
kronor.
In mid-morning trading, Electrolux’s shares jumped
9.6 percent on the Stockholm Stock Exchange.
Roche
Roche offered investors a lower-than-expected dividend payout yesterday and its earnings fell short of
forecasts, sending shares in the Swiss drug maker
down more than 2%.
Chief Financial Officer Alan Hippe said based on the
scenario that current foreign exchange rates were
to prevail for the rest of the year, it would knock 6%
off sales and 9% off core earnings.
While cross-town rival Novartis has said it will
review its Swiss cost base, Roche chief executive
Severin Schwan said his company had no plans to
move operations.
Roche has around 18% of its operating costs in
Switzerland.
Stripping out the impact of currency fluctuations,
the world’s largest maker of cancer drugs forecast
2015 sales to grow in the low-to-mid single digit
range. Core earnings per share (EPS) should grow
more than sales. The company reported full-year
core earnings per share (EPS) of 14.29 Swiss francs
($16) in 2014, missing an average forecast for 14.7
francs in a Reuters poll. A strong performance by
its mainstay cancer drugs, as well as a jump in sales
of flu drug Tamiflu, helped group sales rise 1% to
47.5bn Swiss francs. However, analysts said higher
operating expenses weighed on profit.
Roche plans to pay a dividend of 8Swiss francs per
share for 2014, coming in below the consensus
forecast of 8.19 francs.
SK Hynix
South Korean chipmaker SK Hynix said yesterday
its profits more than doubled in the fourth quarter
to a record high, thanks to the soaring popularity of
new mobile devices such as Apple’s iPhones.
Net profit for October to December last year
amounted to 1.6tn won ($1.5bn), up 106% from
a year ago, the Icheon-based company said in a
statement.
Operating profit jumped 112% to 1.7tn won and sales
rose 53% to 5.1tn won.
SK Hynix — which is Apple’s second largest chip
supplier — is one of the world’s largest makers of
memory chips used for personal computers, servers and mobile devices.
Apple yesterday posted a record profit of $18bn
for the fourth quarter on booming sales of the bigscreen iPhone 6 and 6 Plus.
SK Hynix said shipments of its NAND flash chips
used for mobile handsets rose 30% due to “growing demand boosted by the launch of new mobile
devices”.
The company also saw annual net profit for 2014 hit
a record of 4.2tn won, up nearly 50% from a year
ago.
It added that the memory chip market in 2015
would be led by growth in mobile and corporate
server segments.
Software AG
Germany’s Software AG reported weaker-thanexpected fourth-quarter results as sales as its key
business process unit disappointed.
Germany’s second-largest business software maker
said earnings before interest and taxes (EBIT), excluding special items, rose 1% to €71.4mn ($81mn).
That was slightly below the average expectation of
72.7mn in a Reuters poll, with individual estimates
ranging between 70.4mn and 74.9mn.
The Darmstadt-based company has shifted its
focus to tools which help companies deliver their
software over the Internet using so-called cloud
computing, from software installed on individual
computers.
Yet this has been a painful transition that has
weighed on the group’s income for the past two
years.
Revenue at its key business process unit, which
includes big data solutions, dropped 10% in the
quarter.
Software AG said it expects a 2015 EBITA margin of
between 27.5 and 28.5%, after 27.9% in 2014. “We
are starting 2015 in an excellent position to further
increase Software AG’s value,” chief executive KarlHeinz Streibich said.
Western Digital
Western Digital Corp, the world’s No 1 hard-disk
drive maker, reported second-quarter results
slightly ahead of Wall Street expectations on strong
demand for its solid-state drives from enterprise
customers.
The company’s enterprise sales of solid-state drives
rose more than 20% to $187mn in the second quarter. Solid-state drives are faster and more reliable
than traditional hard disk drives.
The company also forecast current-quarter
adjusted profit of $1.90-$2 per share on revenue of
$3.6bn to $3.7bn.
Western Digital’s net income rose to $460mn, or
$1.93 per share, in the quarter ended Jan. 2, from
$430mn, or $1.77 per share, a year earlier.
On an adjusted basis, the company earned $2.26
per share, above the average analyst estimate of
$2.10, according to Thomson Reuters I/B/E/S.
Revenue fell 2% to $3.89bn, but topped the average
analyst estimate of $3.84bn.
Western Digital’s shares had risen nearly 32% in
2014.
VMware
Virtualization software maker VMware’s adjusted
profit beat the average analyst estimate for the
eighth straight quarter due to strong demand for
its products that help cut the cost of moving data
to the cloud.
The company also doubled its share buyback program to $2bn, helping to send its stock up nearly
2% in extended trade.
VMware, like rival Citrix Systems, makes software
that enables the creation of a virtual machine that
act like a real computer with an operating system,
helping clients use server and storage space more
efficiently.
The company’s first-quarter adjusted profit forecast
of 83-85¢ per share is well below the average
analyst expectation of 89¢, according to Thomson
Reuters I/B/E/S.
VMware’s revenue forecast of $1.49bn-$1.51bn also
missed the analysts’ average estimate of $1.55bn.
The Street will look past the conservative forecast,
which is mostly currency related, FBR Capital Markets analyst Daniel Ives said.
Total revenue rose 14.8% to $1.70bn in the fourth
quarter ended December 31, narrowly beating the
average analyst estimate $1.69bn as income from
both licenses and services rose.
Revenue from services rose 16.3% to $926mn. Contracts for software maintenance and support made
up more than 54% of total revenue.
Net income fell to $326mn, or 75 cents per share,
from $335mn, or 77 cents per share, a year earlier.
Excluding items, the company earned of $1.08 per
share, above the average analyst estimate of $1.06.
US Steel
US Steel Corp on Tuesday reported a lower quarterly net profit that was hurt by falling steel prices
and the strong US dollar, but it came in well above
market expectations.
The company reported a fourth-quarter net profit
of $275mn, down more than 7% from $297mn a
year earlier.
US Steel reported earnings per share of $1.83,
compared with $1.93 a year earlier. Analysts had
expected earnings per share of 87¢.
Electronic Arts
Electronic Arts, publisher of the “FIFA” and “Madden
NFL” video games, posted better-than-expected
quarterly profit and revenue, helped by growth in
digital revenue and strong sales of its sports titles.
The company’s shares rose 3% to $49.92 in extended trading.
The world’s second-largest video game publisher
has benefited by offering its popular PC and online
games on mobile devices, a high-margin “freemium” model.
In such a model, games can be played free, but are
monetised via advertising or charging gamers for
additional features.
EA’s digital revenue rose about 32% to $541mn in
the third quarter ended Dec. 31.
Total revenue rose nearly 40% to $1.13bn.
Net income was $142mn, or 44¢ per share, compared with a loss of $308mn, or $1 per share, a year
earlier.
On a non-GAAP basis, the company earned $1.22
per share on revenue of $1.43bn.
Analysts on average expected a profit of 92 cents
per share, on revenue of $1.29bn, according to
Thomson Reuters I/B/E/S.
EA forecast a fourth-quarter profit of about 22¢ per
share, below analysts’ average estimate of 26¢.
AT&T
AT&T on Tuesday posted a quarterly net loss that
was slightly slimmer than Wall Street expected, as
its mobile device deals attracted more customers,
but its users switched to other networks at a higher
rate.
The second-largest US wireless carrier posted a
net loss of $4bn, or 77¢ per share, in the fourth
quarter, compared with net income $6.9bn, or
$1.31 per share, a year ago. The loss was partly the
result of $10bn in charges related to pension and
retiree benefit plans that it had announced this
month.
Excluding items, AT&T earned 55¢ per share, beating analysts’ forecasts by a penny.
The company said postpaid churn, or the rate of
customer defections, rose to 1.22% and average
revenue per phone user declined 10.7% from a year
earlier.
Revenue rose to $34.4bn from $33.16bn a year earlier. Wall Street analysts, on average, had expected
$34.27bn, according to Thomson Reuters I/B/E/S.
Fiat Chrysler
Fiat Chrysler Automobiles reported full-year operating profit in line with its guidance yesterday as
strong results from North America and improving
operations in Europe and Asia managed to offset
weakness in Latin America.
The world’s seventh-largest carmaker, which
moved its primary listing to New York in October
and is due to spin off luxury unit Ferrari later this
year, reported core 2014 operating profit of €3.65bn
($4.14bn).
This falls within a guidance range of between €3.64.0bn and is above an analyst forecast of €3.4bn,
according to Thomson Reuters SmartEstimate.
Revenues rose 11% to €96.1bn, while net debt at
the end of last year rose to €7.7bn, up from €7bn at
end-2013.
In 2015, FCA forecast core operating profit of
between €4.1-4.5bn, while revenues are seen rising
to around €108bn. Global shipments are expected
to increase to around 4.8-5.0mn vehicles, up from
4.6mn last year.
The car maker has begun turning the corner in
Europe and may even break even in the region at
an operating level this year as a focus on premium
vehicles for export starts to pay off. In 2014, FCA
trimmed its operating losses in Europe to €109mn
from 506mn the previous year.
14
Gulf Times
Thursday, January 29, 2015
BUSINESS
Pizza boxes in play as Rock-Tenn heralds more mergers
Bloomberg
New York
The packaging industry’s biggest deal in
about a decade may put pressure on rivals
to strike transactions of their own.
Rock-Tenn Co, North America’s No 2
packager, this week announced it will
merge with MeadWestvaco Corp to create a company with a combined market
value of about $18bn. The deal could
drive market leader International Paper
Co, which had also been considered a
potential buyer for MeadWestvaco to
come up with an acquisition of its own to
stay competitive, said Todd Wenning of
Morningstar. The time is ripe for consolidation, with demand for packaging set to
improve amid a strengthening economy
and raw material costs on the decline,
according to Robert W Baird & Co’s Ghansham Panjabi.
“This is just the beginning,” Panjabi,
a Dallas-based analyst at Baird, said in a
phone interview. “Once there is a large
transaction it gets a lot of people off the
fence.”
Graphic Packaging Holding Co, a
$4.8bn maker of Sbarro pizza boxes and
beer cases, is a likely target for International Paper, said Chip Dillon of Vertical
Research Partners. Graphic Packaging climbed as much as 4.5% after the
MeadWestvaco deal was announced on
Monday. Even Packaging Corp of America,
a $7.5bn company, could be a target or
merger partner, said Citigroup. Bank of
Montreal highlighted Georgia-Pacific and
Clearwater Paper Corp as potential sellers
of packaging assets.
MeadWestvaco agreed to the merger
just weeks after announcing plans to spin
off its specialty-chemicals unit, giving
shareholder Starboard Value LP both a
deal and a remedy to what the activist
investor had criticized as a “conglomerate
structure.” The spinoff will proceed after
the deal with Rock-Tenn closes.
The merger is the largest in the paper,
packaging and container market since
Koch Industries Inc bought GeorgiaPacific in 2005 and will make the
combined company a much stronger
competitor.
The last time Rock-Tenn announced a
sizeable deal like this, International Paper
was close behind it with a takeover of its
own. Rock-Tenn agreed to buy SmurfitStone Container Corp in January 2011 for
about $4bn. About six months later, International Paper made a bid for TempleInland, which it eventually bought for a
sweetened price of about $4bn.
“This industry tends to follow the
leader,” Wenning of Morningstar said.
“International Paper may be now more
incentivized here to acquire another
company.”
Graphic Packaging stands out as an
attractive takeover opportunity, Dillon
of Vertical Research wrote in a report on
Monday.
Representatives for Memphis,
Tennessee-based International Paper and
Atlanta-based Graphic Packaging declined
to comment.
There are other forces driving consolidation. An improving job market and
the drop in oil prices are helping to stoke
demand for consumer-related packaged
products, said Panjabi of Baird. At the
same time, materials costs are coming
down, he said.
“The idea of increasing your exposure
to that paradigm makes more sense,”
Panjabi said. Companies are going to
want to “capitalise on that dynamic” and
merging with a peer will help reduce costs
even further.
Packaging Corp could be a potential
takeover target or a merger partner,
Anthony Pettinari, a New York-based
analyst at Citigroup, wrote in a report on
Tuesday. The company could also be an
acquirer, according to Mark Wilde, a New
York-based analyst at BMO. After buying
Boise Inc in 2013, it has the balance sheet
flexibility to start looking at deals, he said.
Georgia-Pacific hasn’t invested as much
in its packaging business as it has other
divisions since Koch Industries purchased
it. That could make it a potential seller of
assets, Wilde said. Clearwater is focused
on tissue products and could look to di-
VW bets big to revamp
loss-making Phaeton
New high-tech Phaeton to hit
market 2017-18, say sources;
model’s revamp may cost up
to €650mn, analyst; comes
as VW engaged in €5bn
cost-cutting drive
Airbus CEO
promises
shake-up after
A400M delays
Reuters
Paris
T
Reuters
Berlin
W
ith Volkswagen having embarked on a big
cost-cutting
drive,
industry experts are baffled why
the “people’s car” maker plans
to spend millions of euros upgrading a loss-making luxury
saloon.
The €76,000 ($86,000) Phaeton, a pet project of chairman
Ferdinand Piech, has never met
VW’s original sales target of
20,000 cars annually. Analysts
say the executive saloon, which
cost more than €1bn to develop
and came out in 2002, should be
axed.
But sources at VW told Reuters that the company is now
planning a more advanced version of the Phaeton — described
by Bernstein analyst Max Warburton as one of the three “most
loss-making European cars of
modern times”.
The plans appear all the more
perplexing to analysts as VW
has pledged to make annual cost
savings of €5bn at its passengercar brand by 2017, as the world’s
second-biggest car maker by
sales seeks to narrow the gap
with global leader Toyota.
Announcing the “efficiency
programme” last July, chief
executive Martin Winterkorn
promised “painful action” to revive the core brand where profit
margins have been languishing
due to a proliferation of models
and parts.
“It’s no longer all about bigger,
higher, further,” the CEO told
managers at a Dresden strategy
conference in December. “Now
it’s about being leaner, faster,
more efficient.”
His comments echoed VW’s
plans to reduce the number of
costly parts and drop some nonprofitable variants from the German group’s 310-model line-up
as Europe’s largest automaker
shoulders costs of future growth
vest its bleached paperboard operations,
he said. Rock-Tenn may also decide to sell
MeadWestvaco’s plastic packaging business after the deal closes, an asset that
could attract AptarGroup Inc, according to
Wenning of Morningstar.
Representatives for Lake Forest, Illinoisbased Packaging Corp and Georgia-Pacific
declined to comment. Representatives for
Spokane, Washington-based Clearwater
and Crystal Lake, Illinois-based AptarGroup didn’t respond to requests for
comment.
That all spells more deals to come in
2015.
This week’s deal “just puts more focus
on the rest of the industry for more of
these types of mergers,” Paul Quinn, an
analyst at RBC Capital Markets, a unit of
Royal Bank of Canada, said in a phone
interview.
The €76,000 ($86,000) Phaeton, a pet project of chairman Ferdinand Piech, has never met VW’s original sales target of 20,000 cars annually.
Analysts say the executive saloon, which cost more than €1bn to develop and came out in 2002, should be axed.
and investments in lower-emissions technology.
Revamping the Phaeton will
fly in the face of the CEO’s costcutting drive, said Evercore ISI
analyst Arndt Ellinghorst, adding that switching production of
the model to VW’s modular MLB
platform could cost as much as
€650mn.
“Economically speaking, it’s
the most irrational project,”
London-based Ellinghorst said.
“Piech and Winterkorn simply
cannot let go of their fondness
for luxury products.”
A new glass-walled factory,
R&D outlays and low sales volume led VW to lose 28,000 euros
on each Phaeton sold between
2002 and 2012, Warburton wrote
in a September 2013 note.
Unfazed by the losses, VW
aims to pit the next-generation
model against the Mercedes’
80,920-euro flagship S-Class,
sources said, adding the car
may hit dealerships in 2017-18.
A plug-in hybrid version is also
planned. VW confirmed it was
planning a successor to the Phaeton but declined to comment
on the details or costs. It also declined to comment on analysts’
loss, cost and sales estimates
for the existing version, but said
the saloon helped to show off its
technical prowess.
The company does not disclose sales data for individual
brands, only production numbers, which show it produced
5,812 Phaetons in 2013 — the latest annual figures published.
Stefan Bratzel, head of the
Center of Automotive Management think-tank near Cologne,
said another high-end luxury
saloon may overstretch the VW
brand, traditionally a massmarket division which in November released a more upmarket Passat.
A new Phaeton could also affect sales of VW’s other premium offerings, especially the
Audi A8 saloon which may share
MLB underpinnings with the
VW-badged model, he said. “It
doesn’t make much sense strategically,” Bratzel said. “The
business case is equally questionable.”
A new Phaeton would struggle against its premium rivals,
analysts say. Sales of the model
will average no more than 11,900
cars a year in 2017-2020, up from
6,300 this year, according to research firm IHS Automotive.
That compares with annual
averages of 85,000 units for the
Mercedes S-Class, 64,000 for
BMW’s 7-Series and 41,000 for
Audi’s A8 in the four-year period, according to IHS data.
Buyers will never warm up to
the notion of a full-size luxury
saloon made by the “people’s
car” brand unless they get a
huge discount, a former VW
group executive told Reuters.
“This is the inherent problem
which puts the car’s price positioning and profitability at risk,”
he said.
The Phaeton is the brainchild
of Piech, the mastermind of
VW’s global expansion and its
former CEO, who is well known
for outmanoeuvring both rivals
and allies.
A former Audi North American chief, Axel Mees, was forced
to leave the company in 2004
after criticising the Phaeton
project and Piech in public, a
source at Audi said.
Meanwhile, Michael Horn,
VW’s new US boss is chasing a
lofty sales target of 800,000 VW
brand cars by 2018, more than
double last year’s tally.
Horn will be tasked with relaunching the next Phaeton
in the US after VW pulled the
model from the world’s biggest
luxury-car market in 2006 because of poor sales.
Asked by Reuters at the Detroit auto show what potential he sees for the model in the
country, Horn was struggling.
“That’s a dangerous question.
It’s an image bearer with no relevance for volume,” he said.
he head of Airbus Group
has promised management and organisational
changes at the European aerospace firm after new delays
and quality problems with its
A400M military transport
plane.
Apologising during a speech
in London for the latest problems with Europe’s largest defence project, chief executive
Tom Enders said: “We have not
performed as we would have
wished on the A400M, and I
must apologise.”
“...There will be management and organisational consequences to the programme,
and we will learn our lessons
from this,” he told UK politicians and military leaders.
A copy of Tuesday evening’s
remarks was provided by Airbus, which declined further
comment.
Airbus said in November
there had been delays in adding
advanced tactical features and
refuelling on certain aircraft,
some of which would have to be
retrofitted.
It did not rule out taking further charges on top of €4.2bn
of provisions over the life of
the project, which received a
€3.5bn, seven-nation bailout
in 2010.
Enders said Airbus was
working hard to deliver the
A400M as rapidly as possible
and would ensure Britain’s air
force had seven aircraft in service by the end of 2015.
The largest customer, Germany — which took delivery in
December of the first of 53 of
the airlifters it has ordered —
criticised Airbus last week over
delays and quality problems on
the A400M.
The project has undergone several transformations,
switching from a separate
Spanish-based military transport unit to come under the
wing of first the France-based
Airbus civil planemaking unit
and now an enlarged defence
division based in Germany.
In 2010, Enders sacked military transport head Carlos Suarez after a disagreement over
how the project was being run.
Airbus last year brought back
Rafael Tentor for a second stint
in running the programme.
He reports to Domingo Urena-Raso, the head of Airbus’s
recently reorganised military
aircraft activities, part of the
Airbus Defence & Space division which is also in the midst
of restructuring.
The latest delays come
against the backdrop of tensions between Airbus and Germany over sweeping defence
cuts.
A total of 170 A400Ms have
been ordered by seven partner
nations, which also include
Belgium, Britain, France, Luxembourg, Spain and Turkey.
Enders says Airbus was working hard to deliver the
A400M as rapidly as possible and would ensure
Britain’s air force had seven aircraft in service by the
end of 2015
Gazprom mothballs extension of Nord Stream pipeline
Russian firm said last year it might
expand line to Britain; chairman
says falling gas prices forcing
project reviews; Gazprom sources
say ‘complicated’ politics a factor;
Gazprom abandoned South Stream
project in December
Reuters
Moscow
G
azprom has put an expansion of
its Nord Stream gas pipeline on
hold, rowing back for the second
time in two months on plans to extend
its European network as relations between Russia and the West fester over
Ukraine.
Existing capacity through Nord
Stream, which runs under the Baltic
Sea and serves Germany, was enough
for now and there was no immediate
need for an expansion, the state-con-
trolled firm said yesterday.
Gazprom chairman Viktor Zubkov
said a weak gas market was forcing the
firm to defer projects.
“When the price is decreasing... is
difficult to realise these projects and
sometimes it’s even not possible,” he
told a gas conference in Vienna.
Crude prices, to which many longterm gas deals are indexed, have fallen
more than 50% since June while dayahead gas prices in Britain, one of Europe’s most traded markets, are off 25%
since November.
Sources at Gazprom said the decision
was also related to the “complicated”
political situation.
The firm said last year it could expand the pipeline with a supplementary feed to Britain.
But “we were not allowed access to
(German pipeline) Opal. Why build two
more arms? We are not building them,”
one Gazprom source told Reuters.
Nord Stream has two pipes with annual capacity of 55bn cubic metres,
around 10% of the European Union’s
natural gas needs and which the mothballed plan would have doubled.
In early December, Russia abandoned
its South Stream project, which was to
supply gas to southern Europe without
crossing Ukraine, citing European Union objections. It instead proposed an
undersea pipeline to Turkey.
Nord Stream is currently running at
around half capacity because Gazprom
has gained only limited access to Opal,
which connects to Nord Stream in Germany and runs to the Czech Republic
and has also been operating at half capacity.
The EU has repeatedly delayed ruling
on whether to grant Gazprom greater
access to Opal, which it is seeking as
part of efforts to bypass Ukraine as a
distribution point. A decision is now
due by end-January.
The European Commission had taken note of the Nord Stream decision, a
spokeswoman in Brussels said.
A spokesman for the Nord Stream
pipeline operating company in Switzerland said it was a matter for the
shareholders.
Gazprom holds 51%, Wintershall
Holding and E.ON Ruhrgas hold 15.5%
each, and Gasunie and France’s GDF
Suez 9% each.
Gazprom said last week it would
build a liquefied natural gas plant near
the Russian Baltic Sea port of Ust-Luga
to ship LNG to Europe, India and South
America.
Meanwhile, Austrian energy group
OMV and Russian natural gas exporter
Gazprom have agreed to amend a longterm contract for gas supplies, OMV
said yesterday without disclosing details.
It said the changes put the contract
“on a new footing that reflects chang-
ing market conditions”.
Crude oil prices have fallen more
than 50% since last June while dayahead gas prices in Britain, one of Europe’s most traded markets, are off 25%
since November.
A source familiar with the matter said
the new deal was based on spot market
prices. The partners had already agreed
in late 2013 an interim deal to amend
terms of a contract that originally indexed gas prices to oil prices.
Alexander Medvedev, deputy head
of Gazprom’s management committee,
and OMV chief executive Gerhard Roiss
signed the amendment at a meeting in
Vienna, OMV said in a statement.
“Today, Gazprom and OMV have
taken an important step to secure longterm gas supplies to Austria. When
signing the document, both partners
also underlined the role of Baumgarten as an essential hub for Russian gas
exports,” Roiss said, referring to the
Baumgarten terminal outside Vienna.
OMV has been buying natural gas
from Russia since 1968. The current
deal runs until 2027. OMV unit EconGas, in which OMV holds a 64.3%
stake, is the counterparty in the contract.
Commercial ties with Russia are a
sensitive topic given sanctions that
the European Union and the US have
imposed on Moscow over its alleged
support of pro=Russian separatists in
eastern Ukraine.
Neutral Austria has supported EU
sanctions but Social Democrat Chancellor Werner Faymann reiterated on
Tuesday he opposed tightening measures unless they target individuals
linked to the fighting in Ukraine.
Russian leader Vladimir Putin visited Austria in June, when OMV and
Gazprom clinched a deal to extend the
now-defunct South Stream gas pipeline to Austria.
Gulf Times
Thursday, January 29, 2015
15
BUSINESS
Greece scraps key privatisations, stocks hammered
AFP
Athens
Greece’s new hard-left government yesterday
scrapped key privatisation tenders and pressed
home its demand for debt relief, causing sharp falls
on the Athens stock market as investors fretted
over the risk of a default.
Prime Minister Alexis Tsipras said his “national
salvation” government would not sell a majority
stake in the main ports of Piraeus and Thessaloniki,
and would also halt the privatisation of the top electricity and petroleum companies.
The news sent Greek stocks tumbling, with the
main index losing over 9.0% and banks falling by a
quarter.
Yields on Greek 10-year bonds also rose above
the symbolic barrier of 10%.
Tsipras, comfortably elected on Sunday on a
pledge of ending painful austerity in a country
worn down by six years of recession, said he
wanted a “fair” renegotiation with Brussels of the
country’s €240bn ($269bn) bailout.
His finance minister, Yanis Varoufakis, insisted
there would be no “showdown” between Greece
and the European Union, while calling the austerity
cuts a “toxic mistake” that ultimately benefited no
one in Europe.
In a speech to the cabinet — his first since taking
office — 40-year-old premier Tsipras, however,
insisted that Greece’s new leaders were no longer
willing to bow to the “politics of submission”, in
a clear swipe at Brussels and the International
Monetary Fund.
The new government had already on Tuesday
taken the EU to task for threatening to impose
further sanctions on Russia over the war in the
Ukraine without consulting Athens about the
warning.
“Our people are suffering and demand respect...
We must bleed to defend their dignity,” Tsipras said
on Wednesday.
The new government’s radical anti-austerity
agenda has alarmed financial markets, reviving fears that Greece could crash out of the
eurozone.
After his Syriza party stormed to power on
Sunday, Tsipras forged a coalition with the nationalist Independent Greeks (ANEL), who are equally
opposed to the fiscal cuts imposed over the past
five years in return for bailout loans.
The ruling Syriza party has made frequent references to a “New Deal”, harking back to the stimulus
programme that pulled the US out of the Great
Depression in the 1930s.
The new coalition — which has 162 seats in the
300-member parliament — must address an end-ofFebruary deadline set by the EU for Greece to carry
out more reforms in return for a €7bn tranche of
financial aid from the bloc and the IMF.
Tsipras, who has vowed to reverse many of the
severe spending cuts and other measures that
Greece’s creditors insist on, must soon decide
whether to delay the deadline.
Outgoing finance minister Gikas Hardouvelis
said Greece had “quite acute” financing needs in
March and could not afford to have negotiations
drag on until the summer.
Greece’s European partners have been quick to
stymie the prospect of debt forgiveness, with German Chancellor Angela Merkel’s spokesman saying
that Greek membership of the eurozone “means...
sticking to its previous commitments.”
However the EU’s governing body indicated
Wednesday that it was willing to show flexibility
with the new Greek leaders to keep the debt-stricken nation in the eurozone.
European Parliament chief Martin Schulz will be
in Athens today, the first foreign dignitary to hold
talks with the new government.
The European commissioner for economic and
financial affairs, France’s Pierre Moscovici, said
he ruled out any “break” between the European
Commission and the new Greek administration, the
French daily Le Parisien reported yesterday.
The Commission and the European Union are
willing to seek “less intrusive, more flexible forms
of cooperation” with Athens, the paper quoted him
as saying.
The head of the eurozone finance ministers,
Jeroen Dijsselbloem, will also visit Athens on Friday
“to get to know” Greece’s new leaders, his spokeswoman said.
But in a newspaper interview Wednesday, a
member of Germany’s Bundesbank central bank
warned Athens of “fatal consequences” if it rejected
the bailout terms.
“If the continuation of the programme of aid
for Greece is called into question... Greek banks
would lose access to central bank funds,” Joachim
Nagel told the German business daily Handelsblatt.
“It would have fatal consequences for the Greek
financial system.”
Tsipras’ Syriza party claims the stringent conditions attached to the bailout — including wage and
pension cuts and widespread privatisations — have
caused a “humanitarian disaster” in Greece.
It wants to spend €1.2bn to immediately increase
the minimum wage and pensions for the poorest.
However, the IMF extended an olive branch to
the new government, saying it was prepared to
continue its support to the country.
Greece’s economy is set to emerge from recession after shrinking by a quarter in five years, a
slump that has left one in four out of work.
Many Greeks say that even if Tsipras can deliver
on a fraction of what he has promised, their lives
will improve.
Tsipras stands alone as Europe’s first anti-austerity leader for the moment, but Syriza’s victory
could inspire other movements born out of the
crisis, including Spain’s Podemos, which is aiming
for an absolute majority in the Spanish election in
November.
EU investment
plan could
create 2.1mn
jobs if done
right, says ILO
Russia unveils $35bn anti-crisis
plan, silent on cuts to pay for it
Reuters
Geneva
Plan includes measures to help
banks and companies; government
pledges to cut other spending
items
T
Reuters
Moscow
R
ussia announced a $35bn “anticrisis” spending plan yesterday
to bail out an economy battered
by Western sanctions and falling oil
prices, but gave few details of the deep
cuts it said would be enacted this year
to pay for it.
The 2.34tn rouble spending plan includes 1.55bn roubles to support banks,
most of which was already announced
last year and which many analysts say
is still a fraction of what Moscow will
have to spend to keep its lenders afloat.
The plan focuses mainly on bailing
out banks and big companies to help
them weather the immediate impact
of the crisis, at the expense of longterm development programmes. Extra
money would also be spent to increase
pensions in line with higher-than-expected inflation.
“This plan is something like a cushion to avoid a rapid deterioration in
Russia and support several of the most
important economic agents (and provide) social support,” said Sberbank
chief economist Yulia Tseplaeva.
President Vladimir Putin has ordered that defence and social spending
cannot be cut, underscoring his focus
on preserving Russia’s international
might and social stability.
Despite these constraints, Finance
Minister Anton Siluanov said on Tuesday that the anti-crisis plan would not
add to total budget expenditures, because of budget reserves and cutbacks
elsewhere.
The plan said the government would
cut “the majority” of its planned expenditures by 10% in 2015, except for
defence, social spending and debt repayments, with a view to balancing the
budget by 2017. But it gave few details
on those cuts, beyond saying that some
long-term investment projects would
be delayed.
Ivan Tchakarov, Russia economist at
Citibank, said that the plan was necessarily vague, as Moscow has yet to
revise its budget and macroeconomic
forecasts for this year.
“It’s a typical government-led programme. It focuses on subsidies,” he
said. “I haven’t seen any particular
measure that strikes me as a structural
reform, it’s just talk.”
Some major items in the plan are be-
A man uses an automated teller machine at a branch of Sberbank in Stavropol yesterday. A 2.34tn-rouble spending plan announced by Russia yesterday includes 1.55bn
roubles to support banks.
ing financed from the National Wealth
Fund, an $80bn sovereign fund that
had previously been assigned to fund
infrastructure projects.
Among the priority measures, the
largest single item is a 1tn rouble programme to recapitalise banks through
the issue of government bonds, which
has already been funded from last
year’s federal budget.
Banks will get a further 550bn roubles from the National Wealth Fund.
This includes 300bn roubles for
Vnesheconombank, the state develop-
ment bank, to increase “lending to organisations of the real sector”.
Many analysts think this is still a
fraction of what Russia will have to
spend to keep its banking sector afloat
as businesses lose the ability to service
their loans and banks are hit by much
higher financing costs.
Citibank’s Tchakarov said that the
support measures were narrower than
similar ones enacted in a previous crisis
in 2008-2009, reflecting more limited
resources this time.
“Now they’re much more selective,
with support for key strategic enterprises, which is why I think this time
we are going to see some corporate and
bank defaults,” he said. “You cannot
support everyone in the current environment.”
The plan “isn’t something to get too
excited about”, he added. “But at least
they still have some money to spend,
some buffers to use.”
Among the uncosted items, the plan
said the government would collect proposals by January 30 for creating a “bad
bank” to ring fence problematic bank-
ing assets. The plan includes 200bn
roubles in state guarantees of loans of
bonds needed “for carrying out investment projects,” as well as other goals
approved by the government such as
debt restructuring.
The federal government will lend
160bn roubles to help regional governments, and 188bn roubles were allocated to raise pensions in line with inflation. Smaller or uncosted items in the
plan included subsidies and tax breaks
to industrial enterprises, small businesses and agriculture.
he European Commission’s €315bn investment
plan to spur growth could
create more than 2.1mn net new
jobs, lowering the bloc’s jobless
rate by 1% by 2018, the International Labour Organization
(ILO) said yesterday.
But if the three-year plan, announced by Commission chief
Jean-Claude Juncker in November, fails to attract and leverage
private investment, it would
create just 400,000 new jobs,
barely making a dent in the EU’s
23mn unemployed, it said.
“If the plan is well designed,
by contrast, the number could
reach 2.1mn new jobs by 2018.
This would enable a reduction
in the unemployment in the
European Union by 0.9% point,
almost 1% lower unemployment
rate by 2018. It’s a significant
number,” Raymond Torres, director of the ILO’s research department, told a news briefing.
“The Juncker plan is potentially an important way to stimulate the real economy directly
in complement to the monetary
injections that have been announced by the European Central Bank,” he added, referring to
the massive bond-buying programme announced last week.
But investors being asked to
stump up most of the cash have
said Europe needs to come up
with more government money
and more details if its grand plan
to boost growth via new infrastructure projects is to get off the
ground.
The plan of loans for infrastructure and small business is
meant to include €252bn in private investment to help bring
down current EU-wide employment of some 10%, the ILO said.
“Therefore it is very important to involve projects with large
economies of scale, for example
energy networks in Europe or
green investments, which have
a large externality and would
not be carried out normally by
private investors alone,” Torres
said.
In EU countries with high unemployment rates such Greece,
Spain and Italy, many small
businesses currently lack proper
access to bank credit, he said.
Does it help or hinder? Central banks split on oil slump fallout
Bloomberg
Sydney
Central banks globally aren’t seeing
the growth and inflation implications of
cheaper oil the same way.
Japan and South Korea say the weaker
short-term price growth will give way to
stronger demand as consumers spend the
windfall, moderating the risk of deflation.
China also expects a boost to employment
and growth.
Singapore, on the other hand, became
at least the ninth economy to ease policy
this month as global price pressures
evaporate. It follows the European Central
Bank’s announced plans for quantitative
easing while Canada, Denmark and India
cut interest rates.
Here’s how the central banks line up
on the implications of the 50% drop in oil
prices over the past 12 months:
PEOPLE’S BANK OF CHINA: A lower oil
price will boost economic growth and
job creation in the world’s second-largest
economy, central bank Governor Zhou
Xiaochuan said on a panel in Davos,
Switzerland last week. One downside, it
may also become a disincentive for new
investment in non-fossil energy, he said.
BANK OF JAPAN: A stronger economy
from cheaper oil will fuel inflation over the
longer term, Governor Haruhiko Kuroda
said in an interview with Bloomberg
Television last week in Davos. Inflation will
start to accelerate in the latter half of fiscal
2015 even if oil prices don’t rise much, he
said, adding that a 2% inflation rate would
be achieved. BANK OF KOREA: Governor
Lee Ju Yeol last week said the likelihood
of deflation in South Korea is limited as
cheap oil will spur economic growth.
MONETARY AUTHORITY OF SINGAPORE: Singapore’s central bank unexpectedly eased policy yesterday and also cut
the inflation forecast for 2015, predicting
prices may fall as much as 0.5%. The
Monetary Authority of Singapore uses the
currency as its main policy tool.
“The fall in global oil prices resulted
in overall import prices declining by an
average of 6.5% year on year in OctoberNovember 2014, the steepest correction
since the third quarter of 2009,” MAS said
in a statement.
RESERVE BANK OF INDIA: Governor
Raghuram Rajan lowered the repurchase
rate to 7.75% from 8% this month, saying
a slowdown in inflation offered scope to
buttress the economy. India imports about
80% of its oil.
BANK OF CANADA: Canada’s central
bank cut its benchmark interest rate by
a quarter point to 0.75%, an unexpected
move it said would buffer the Group of
Seven’s largest oil exporter from the
plunge in crude. Federal Reserve
US policy makers meet today to gauge
the economic outlook as a narrow majority of economists surveyed by Bloomberg
News predict Fed officials will look past
low inflation and stay focused on raising
interest rates around mid-year. Oil prices
have fallen about 20% since Fed officials
last met December 17, and economists
are marking up their estimates for growth
this year as lower gasoline prices leave
households with more money to spend on
other things.
EUROPEAN CENTRAL BANK: Governor Mario Draghi said in a January 22
news conference that inflation dynamics
“continued to be weaker than expected,”
and while the drop in oil prices is the
dominant factor driving headline inflation,
“the potential for second- round effects on
wage and price-setting has increased and
could adversely affect medium-term price
developments.”
Draghi presented his quantitativeeasing programme on the same day in
Frankfurt.
DENMARK NATIONAL BANK: Later
that day, Denmark’s central bank cut its
certificate of deposit rate to minus 0.35%
from minus 0.2%. Norges Bank
Norway’s central bank in December
delivered a surprise rate cut, triggered by
plunging crude prices, along with a warn-
ing of a 50-50 chance of another cut this
year. Brent crude will need to trade above
$70 a barrel before pressure on monetary
policy abates, Governor Oeystein Olsen
said in a December interview.
Unlike large swaths of Europe, Norway
isn’t battling deflation. Underlying consumer prices gained 2.4% in December,
close to the bank’s 2.5% target.
The Last Word: “The dominant macro
theme in 2015 will be central banks’ battle
against lowflation — excessively low inflation that has become pervasive, persistent
and pernicious,” Morgan Stanley analysts
Hozefa Topiwalla and Aarti Shah said in a
research report. “We think central banks
will pick up the gauntlet and fight back
with more monetary accommodation that
will keep interest rates low and global
liquidity ample throughout 2015.”
Thursday, January 29, 2015
BUSINESS
GULF TIMES
Where to find the best talent in Asia-Pacific
By Arno Maierbrugger
Gulf-Times Correspondent
Bangkok
Investors who are interested to expand in
Asia-Pacific can utilise a new study on skills
competitiveness in their decision-making
process. The 2014 edition of the annual Global Talent Competitiveness Index, released
last week by international business school INSEAD, sheds a light on skills competitiveness
globally, but also allows regional comparison
of major countries in Asia Pacific.
The business school found that Singapore
is the number one economy in the region
when it comes to attract and retain talent,
followed by Australia, New Zealand, Japan
and South Korea.
The countries are ranked by a score which
is based on 65 variables measuring the quality of talent a country can produce, attract
and retain, and factors including economic
openness, fiscal stability, talent growth, employability, modern education systems and
technological parameters.
The top-scoring countries are, unsurprisingly, all high-income countries, since
wealthier nations tend to have better universities and a greater ability to attract foreign
talent through higher quality of life and remuneration, making them more competitive.
Singapore took the lead in the Asia-Pacific
talent ranking due to its world-class education system and ability to provide its students
with “employable skills”. It was also cited in
the study as being “exemplary” in its ability to
enable and attract talent. Similar explanations
were given for the leading ranks of Australia,
New Zealand, Japan and South Korea.
“The study demonstrates that countries
which rank higher are those that invest more
in lifelong learning through valuable formal
and vocational training programmes, offer
higher flexibility and mobility within the labour market, and enjoy a recognised tradition
of being open to immigration,” said Patrick
De Maeseneire, chief executive officer of Switzerland-based Swiss multinational human
resource consulting company Adecco Group,
which co-produced the research paper.
Within Southeast Asia, Malaysia takes
the lead in terms of talent competitiveness.
The study says that the country has a “good
balance” in attracting and retaining talent, a
robust business landscape and lots of good
schools and universities. However, there
are weaknesses in vocational and tertiary
enrolment, as well as in entrepreneurial
activity, in addition to a growing brain drain
phenomenon.
The Philippines is the big surprise in this
ranking as the country scores second highest
within the Southeast Asian region. The study
lauds the Philippines for its excellent scores
in “skills exports” and entrepreneurial activity,
which is, however, somewhat offset by underwhelming scores on innovation output and
the quality of scientific research institutions.
Thailand scores relatively well in labour
market flexibility and ease of doing business
and has a low brain drain, but is weak in the
higher skills and competencies category, as
well as in “access to growth opportunities”,
quality of the educational system and labour
productivity. These are issues Thailand
shares with Vietnam, Cambodia and Indonesia, other Southeast Asian countries that
made it on the list.
Although formal education throughout
the region is progressing, fuelled by societal
aspirations of the growing middle class,
experts say there is more in talent development than just attending a good school or
university.
“In certain Asian countries, there is a need
to see value and worth in both professional
and technical vocations,” says Kwan Chee
Wei, CEO of Singapore-based Human Capital
Leadership Institute, adding that “beyond
this, traditional hierarchies and bureaucracy
in many Asian corporates, often hold back
openness, transparency and empowerment
— important levers in accelerating talent
growth.”
In comparison: The top three economies
in the Middle East in terms of talent competitiveness are the UAE (global rank 22), Qatar
(global rank 25) and Saudi Arabia (global
rank 32).
Pacific pact nearly
ready, says top US
trade negotiator
US business spend
weakens in Dec, but
consumers upbeat
Reuters
Washington
U
Reuters
Washington
T
he top US trade official
told lawmakers on Tuesday an ambitious Pacific
trade pact could be wrapped up
within months as he urged Congress to back the administration’s trade agenda.
In testimony to congressional
committees, US Trade Representative Michael Froman said
the administration looked to
lawmakers to pass bipartisan legislation allowing a streamlined
approval process for trade deals,
such as the 12-nation Trans-Pacific Partnership (TPP).
TPP chief negotiators are
meeting in New York this week
and a US negotiator said the
talks aimed to close all but the
trickiest issues. Some see a midMarch completion date.
“We are not done yet but I feel
confident that we are making
good progress and we can close
out a positive package soon,”
Froman told the Senate Committee on Finance, adding parties aimed for a deal in a “small
number of months.”
Still, outstanding issues were
“significant.” There was no consensus on how long to protect
the exclusivity of biologic drugs
and gaps on other intellectual
property protections, environmental protection rules, investment and state-owned enterprises, he said.
At hearings with the Senate
and House committees responsible for trade, both Republicans and Democrats said trade
negotiations should seek to stop
trading partners from manipulating their currencies. Senator Charles Schumer, a New
York Democrat, said he would
not support the TPP without
US Trade Representative Michael Froman testifies before a Senate Finance Committee hearing on “President Obama’s 2015 Trade Policy
Agenda” on Capitol Hill in Washington on Tuesday. Froman yesterday said a Pacific trade pact could be wrapped up within months as he urged
Congress to back the administration’s trade agenda.
action on currencies. Froman
said Treasury had the lead on
exchange rates and was pushing
the issue one-on-one and in international forums.
The White House’s plans to
seal a trade agreement covering 40% of the world economy
and fast-track legislation in
2015 face opposition from some
Democrats worried about the
impact on jobs at home and
some conservative Republicans
opposed to giving President
Barack Obama more power.
During the House committee
hearing, lawmakers brandished
cheese and car keys to represent
local industries potentially affected by trade deals. Froman
said officials were consulting
with stakeholders every step of
the way.
Republican Orrin Hatch,
chairman of the Senate Committee on Finance, said it would
be a “grave mistake” to close TPP
before securing trade promotion
authority (TPA), which allows
the White House to submit trade
deals to Congress for a yes-orno vote, without amendments,
in exchange for setting negotiating goals.
Hatch said there was no firm
timeline for introducing a TPA
bill, which experts say will encourage the best offers from
trading partners, but he hoped to
move it in February.
S business investment
spending fell for a fourth
straight month in December, a sign that slowing global growth may be weighing on
the economy, but consumers
remained upbeat and new home
sales in December hit their
highest level since June 2008.
“The drop in (capital spending) will weigh on growth,
though stronger consumer
spending should keep GDP
from slowing too much,” said
Chris Low, chief economist at
FTN Financial in New York.
The Commerce Department
said non-defence capital goods
orders excluding aircraft, a
closely watched proxy for business spending plans, dropped
0.6% last month after a similar
decline in November. Orders
for these so-called core capital
goods started falling in September, the longest downward
stretch since 2012.
Economists, who had expected a 0.5% gain, said the
surprise drop last month likely
reflected weak overseas demand for a wide range of US
capital goods and declining
demand at home for energyrelated equipment.
A strengthening US dollar
may also have been a factor,
analysts said. The dollar gained
12.8% last year and is up 4.2%
so far in 2015 against a basket of
currencies, making US exports
more expensive.
The dour business investment report came as construction and mining equipment
maker Caterpillar reported a
nearly 25% decline in fourthquarter profit and warned that
falling oil prices would hurt its
business in 2015.
A number of US oil producers already have curtailed drilling activity and announced job
cuts after crude oil prices fell
about 60% since June.
US dollar strength is also
undermining corporate profits. Procter & Gamble Co, the
world’s largest household products maker, said full-year sales
were likely to fall 3.0 to 4.0%, due
to the rising dollar. Microsoft
Corp on Monday said the dollar
was a factor behind a decline in
its quarterly earnings as well.
US stock prices ended lower
with the S&P 500 down 1.34%.
The 30-year US Treasury yield
fell to a record low of 2.33%,
and the US dollar fell against a
basket of major currencies.
Weak equipment spending is
likely to catch the attention of
Federal Reserve officials, who
have been eyeing mid-year for
a possible interest rate rise. Fed
officials were due to conclude
a two-day policy meeting later
yesterday.
“This is ... evidence that the
dollar’s strength is starting to
show up in terms of weaker orders, a new soft spot for manufacturing that perhaps will give
some of the policymakers pause
if not worry,” said Chris Rupkey, chief financial economist
at MUFG Union Bank in New
York.
Shipments of core capital
goods, which are used to calculate equipment spending in
US gross domestic product, fell
0.2% last month after slipping
0.6% in November and 0.9% in
October.
Economists said that suggested a downside risk to their
fourth-quarter
economic
growth estimates, most of
which currently hover around a
3.0% annual pace. The government will publish its first snapshot of fourth-quarter GDP
tomorrow.
On the brighter side, US consumer confidence strengthened to its highest level in more
than seven years in January on
growing optimism about the
jobs market and the overall
economy, according to industry
group, the Conference Board,
on Tuesday.
The Board’s index of consumer attitudes jumped to
102.9 from an upwardly revised
93.1 in December. Economists
expected a January reading of
95.1, according to a Reuters
poll.
US services sector growth
also rebounded modestly in
January but companies reported the weakest level of new
business growth in more than
five years, according to private
data vendor Markit on Tuesday.
US multinationals hit hard by strong dollar; to bleed further into 2015
Strong dollar may cut up to $12bn
from Q4 US revenue: FireApps;
Dupont sees 2015 $0.60/share
impact, Bristol-Myers hits
$0.12-$0.14/share; Apple, P&G,
Stryker also see headwinds
Reuters
New York
A
slew of US multinational companies, from DuPont to Procter
& Gamble, showed that a strong
US dollar hurt their earnings, and several blue-chip exporters said the situation will get worse if the greenback
holds its strength.
All told, the resurgent US currency
could shave up to $12bn off US companies’ fourth-quarter 2014 revenue
alone, according to currency expert
Wolfgang Koester, chief executive of
FireApps, a data analytics company
in Phoenix, Arizona, that examines
quarterly reports for currency-related
losses.
The pain is hitting multiple sectors,
including industrial companies such
as 3M Co, technology companies like
Microsoft and Apple, airlines such as
American Airlines Group, healthcare
companies, including Bristol-Myers
Squibb Co and Pfizer, and consumer
firms like Procter & Gamble — which
all garner a large portion of their sales
from outside the US.
“This is a slow-motion crash,” said
Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh. It could take a couple of quarters
for currency conversion losses to show
up, she said.
After hitting a 6-1/2 month low in
May, the dollar has surged nearly 20%
against a basket of major currencies,
making overseas sales denominated in
other currencies less valuable in dol-
lar terms. The stronger dollar can also
make US-made products more expensive for consumers in other currencies
and thus cut demand.
The Dow Jones industrial average,
composed of large and well-known
companies, was hit especially hard on
Tuesday as six of seven companies in
the index that reported results since
Monday evening declined, with only
United Technologies gaining.
“You have companies who don’t
normally complain about (the dollar) who are starting to harp on it and
it does make sense from an economic
perspective that this would be a drag,”
said James Liu, global market strategist
at JPMorgan Funds in Chicago. “It’s
really the pace that matters - not just
whether it is strengthening or weakening.”
The choice for multinationals is
stark. They can keep customers loyal by
maintaining overseas prices and take a
revenue hit from a tough conversion to
dollars, or raise prices and risk the loss
of customers to cheaper local competitors.
While many companies successfully use currency hedging to at least
partly protect against foreign exchange-related losses, the speed and
extent of recent fluctuations have
made it more difficult to hedge. This
has also hurt Wall Street analysts’
ability to estimate losses.
One of the worst-hit companies appears to be chemicals giant DuPont,
which derives roughly 60% of its
revenue from overseas. DuPont said
the strong dollar cut 7¢ per share off
fourth-quarter earnings and will shave
60¢ off 2015 earnings per share based
on recent currency rates.
Procter & Gamble said foreign exchange will reduce its fiscal 2015
sales by 5% and its net earnings by
12% in what it described as its most
significant currency impact ever.
Bristol-Myers said it expects foreign
exchange rates to cut its 2015 revenue
by $800mn and 12¢ to 14¢ in terms of
earnings per share.
The impact looks even more abysmal
when compared with the 1¢ per share
currency impact target that multinationals set for their foreign exchange
managers, according to FireApps.
American icon Apple is also at risk as
it brings in roughly 62% of its revenue
from overseas. It had to close its online
store in Russia temporarily in December due to dramatic currency fluctuations.
Currency could shave as much as
$3bn off Apple’s 2015 revenue even if
its hedging strategy succeeds in halving the impact, technology analyst
Shannon Cross at Cross Research in
Millburn, New Jersey, said ahead of its
report.
Apple’s Chief Financial Officer said
on Tuesday that foreign exchange
is a “clear headwind” included in
the company’s guidance for the year
ahead.
Shares in Microsoft, which gets
nearly three-quarters of its revenue
from overseas, finished off 9.2% on
Tuesday after it said it was hurt by the
strong dollar but gave no specifics.
Medical device maker Stryker Corp
said that if exchange rates stay around
current levels, it expects first-quarter
and 2015 sales to be hurt by 3% to 4%.
Other notables names citing currency headwinds so far in the earnings
season include Johnson & Johnson and
IBM.
Dollar strength already shaved at
least $4bn off US corporate revenue
in the third quarter, according to FireApps. But actual losses may be much
higher as many firms citing currency
impacts did not disclose the amount, it
noted.
TENNIS | Page 4
NBA | Page 8
FOOTBALL | Page 11
Djokovic
downs
Raonic to
reach semis
Bulls beat
Warriors to
end home
winning run
Luis Figo
announces
bid for FIFA
presidency
Thursday, January 29, 2015
Rabia II 9, 1436 AH
GULF TIMES
FOCUS
Key points can be drawn from Qatar
2015 experience, says Finance head
Khamis Mubarak al-Kuwari says maximising value for money
to be able to donate to Educate A Child was important
By Sports Reporter
Doha
K
hamis Mubarak al-Kuwari
(pictured), head of the Finance
Committee for Qatar 2015, has said
that the careful management of
the event has been one of the behind-thescenes reasons for its success.
The prudent management of the budget
has been particularly important, since proceeds from Qatar 2015 ticket sales will be
donated to ‘Educate A Child’, a global programme of Education Above All (EAA) that
aims to increase the numbers of children
worldwide who can claim their right to education. By ensuring that the budget is man-
aged properly, the organising committee
has been able to maximise the return for the
initiative.
“Under the leadership of HE Sheikh Joaan
bin Hamad al-Thani, president of the Organising Committee, this event has been an
unforgettable experience,” said al-Kuwari.
Elaborating on the role of the Finance
Committee, he said: “One of the main tasks
of our committee is to ensure proper planning and budgetary allocations for the Organising Committee. Thanks to the important role played by our Director General,
Dr Thani Abdulrahman al-Kuwari, we have
been able to achieve everything we set out
to do. We have ensured proper resources for
each department.
“Everything has gone as planned and we
have been able to provide the needs of the
Organising Committee by working in collaboration with the Procurement Committee.
We have also supported a series of successful
partnerships for the event that helped generate income. Because all profits from ticket
sales will be donated towards ‘Educate A
Child,’ everyone has worked hard to make sure
we deliver real value for money.”
The Finance Committee has over 40 volunteers working as a team and works closely
with other committees to ensure smooth
operations throughout the tournament. One
of the aims of Qatar 2015 is to ensure that
the event leaves a strong legacy for sports
development and mega-event management
in Qatar – not just physical infrastructure,
but also human resources and knowledge.
2
Gulf Times
Thursday, January 29, 2015
24TH MEN’S HANDBALL WORLD CHAMPIONSHIP
REPORT
Qatar march into semis
with win over Germany
Hosts beat Germany 26-24 in the quarter-finals to become the first Asian team ever to reach the last four stage
By Yash Mudgal
Doha
H
osts Qatar continued their
impressive show in the 24th
Men’s Handball World Championship as they marched into
the semi-finals yesterday.
At Lusail Multipurpose Hall, the
Asian Games champions overcame a
fighting Germany 26-24 to book their
maiden entry into the World Championship last four.
With the victory the hosts became
the only Asian country to make it to the
last four stage of the world championship and will take on the Poland, who
defeated Croatia 24-22, tomorrow.
Qatar coach Valero Rivera was ecstatic with the performance of his boys.
“Qatar deserves to be the first team
from Asia to play in the semi-finals of
the competition. I am very happy with
the victory as we have played our best
handball in the championship. The
Germans played very well too. I’m happy for the team, for the federation and
for the country,” he said.
Qatar rode on the brilliance of Rafael Capote (8 goals), Zarko Markovic
(6 goals) and Borja Vidal (4 goals) coupled with the brilliance of goalkeepers
Danijel Saric and Goran Stojanovic, to
script their best-ever performance at
the world stage.
Rivera’s team performed convincingly against former champions Germany throughout the match to emerge
deserving winners. The hosts made
their intentions clear from the outset
by playing a fast and fluent game.
“It was a tough game. We didn’t
have a good beginning yet we didn’t
give up and put a lot of pressure on
Qatar in the second half. The Qatar goalkeeper was simply excellent.
We are disappointed,” German coach
Dagur Sigurdsson said.
A partisan crowd of about 11,500
roared Qatar to victory with former
HSV Hamburg player Zarko Markovic
scoring his 50th goal in the championship for the home side.
Both teams started the game in an
electric atmosphere. Qatar, encouraged
by incredibly colourful and vociferous
support, were eager to open the score
but the Germans found the net first in
the second minute of the match.
The German team clearly wanted to
(From left) Qatar players Kamalaldin Mallash, Goran Stojanovic, Hadi Hamdoon and Rafael Capote celebrate their win over Germany in the 24th Men’s Handball World
Championship quarter-final at the Lusail Multipurpose Arena yesterday. PICTURES: Mamdouh
increase the score and they were active
in laying a siege around the Qatari goal.
However, the Qataris broke the German siege and equalised in the fourth
minute.
The game looked very tight as both
teams exchanged their extremely meticulous attacking efforts. The Qatari
keeper Saric was particularly good at
repelling German shots.
After six minutes, Qatar took the
lead but the Germans equalised almost instantly. From there onwards
Qatar started to concentrate on their
sharp shooting and after equalising,
increased their lead after a couple of
subsequent penalties.
Midway through the first half, the
Qataris had a four-goal advantage with
Markovic and Capote keeping up the
offensive pressure. Weinhold was instrumental in Germany’s scoring efforts.
The pace of the game increased in the
last third of the opening half with Qatar
concentrating on widening their lead.
Even as the Germans fought back, Qatar’s lead was hardly ever less than five
goals.
In the second half, teams continued exchanging fast breaks and quality goals. Labouring back, Germany
managed to narrow the gap to one. It
clearly appeared as though the German squad was rejuvenated during
the break.
By the end of it all, however, the Qataris stood their ground and overcame
the formidable German barrier. The
win sparked jubilant scenes among a
packed and excited crowd as the hosts
kept alive the dream of a home victory
at the championships.
German captain Uwe Gensheimer,
who was the top scorer with five goals
for his team, also lauded Qatar’s efforts
as he said: “Qatar deserved to win today. I am disappointed we didn’t play
to the best of our abilities at the highest level. We couldn’t manage to take a
confident lead.”
Qatar goalkeeper Saric, who had two
superb stops at crucial moments, was
delighted with his team’s victory.
“We are very happy and satisfied.
The first half was extraordinary and in
the second half we gave everything to
achieve this great victory. Playing in
the semi-finals is the best thing that
happened in our career. We deserve to
be there, so does the whole country of
Qatar.”
South Korea is the only other Asian
team to have reached the quarter-finals
stage and that was in 1997.
POLAND CLINCH SEMI-FINAL SPOT
Poland edged past Croatia 24-22 in another thriller at Ali Bin Hamad Al-Attiya Arena to reach the semi-final.
Croatia, bronze medallists at the last
world championship, showed good defensive work in the first 15 minutes of
the game. That was enough for an early
4-2 lead, despite the fact that the most
efficient Croatian star in the backline
Domagoj Duvnjak (0/4 in the first 30
minutes) couldn’t find the rhythm as in
his previous match against Brazil.
However, Polish coach Michael Biegler found a way to solve his players’
lack of attacking ideas in time-out and
they made an impressive 5-1 comeback
led by right back Andrzej Rojewski.
The Polish boys marched to a 9-6
lead in the 22nd minute, when Croatian
coach Slavko Goluza brought in young
left back Ivan Sliskovic. He took advantage of his chance and brought a new
dose of energy to his teammates in the
offensive actions.
Croatia levelled 10-10 two minutes
before the buzzer, but the finish was
controlled by the Wisla Plock duo Kamil Syprzak and Mariusz Jurkiewicz,
who put Poland two goals up at 12-10.
Croatian stars Domagoj Duvnjak,
Igor Vori and others, took the half
time advice of coach Slavko Goluza
seriously, providing a furious tenminute action in the beginning of
second half. Duvnjak netted four
goals in a row to conclude a 6-1 series
of his team, which put Croatia three
goals ahead – 16-13.
The guy who pulled out Poland from
the crisis was left back Piotr Chrapkowski with two goals. After he scored
the 18-18 equaliser in the 49th minute,
Kamil Syprzak brought the lead to the
‘Eagles’.
Syprzak gave Poland the lead at 23-22
three minutes from time, before goalkeeper Slawomir Szmal saved two shots
by Duvnjak and Manuel Strlek.
Mariusz Jurkiewicz (top-scorer with
six goals) scored the last one to ensure
that Poland reached the Worlds semis
for the first time since 2009.
“All the people saw a really close
game between two strong teams who
knew each other very well. We didn’t
play with the necessary speed in attack
in the first half, but our solution was
to play with two line players,” Poland
coach Michael Biegler said.
“In the half-time break, we agreed to
change our defence and to play faster in
attack. While our focus was not at the
necessary level at the start of the second
half – we were down three, four goals –
but the team learned how to cope with
pressure. We need time to understand
what we just did,” he added.
The top-scorers for Croatia were
Marko Kopljar and Duvnjak with five
goals each.
Qatar fans created a colourful and an incredible atmosphere in the Lusail Multipurpose Arena.
Qatar coach Valero Rivera is ecstatic after a goal is scored.
Qatar 2015 Organising Committee vice president and Qatar Handball
Association president Ahmad al-Shaabi celebrates with players.
German players are disappointed after the loss to Qatar in the quarter-finals yesterday.
Qatar goalkeeper Danjel Saric celebrates the win.
Qatar’s Zarko Markovic (left) has become the tournament’s highest goal-scorer at 55.
Gulf Times
Thursday, January 29, 2015
3
24TH MEN’S HANDBALL WORLD CHAMPIONSHIP
REPORT
SPOTLIGHT
Spain edge Denmark
out to set up semis
clash with France
Barca coach
Pascual
praises Qatar’s
performance
Defending champions made it to the last four with a narrow 25-24 win
Barcelona coach Xavi Pascual is in Doha to follow the performances of
Barcelona players playing in the World Championship.
I
n February 2009, Xavi Pascual became head coach of
FC Barcelona. Since then he
has led his team to more than
15 titles, including winning the
Champions league once (2011)
and the IHF Super Globe twice
(2013, 2014).
Pascual is in Doha to attend the
matches of 24th Men’s Handball
World Championship to follow
a huge contingent of Barcelona
players. When the World Championship started, the Catalans
had the most number of players
participating at 12.
In the following interview,
Pascual talks about his impressions in Doha.
Spain’s Joan Canellas (centre) scored the winner with two seconds left on the clock as the defending champions beat Denmark in the quarter-finals yesterday. PICTURE: Mamdouh
By Yash Mudgal
Doha
D
efending champions Spain and
Olympic champions France entered the semifinals of the 24th
Men’s Handball World Championship with contrasting victories yesterday. Spain overcame twice runners-up
Denmark in a 25-24 thriller, while France
easily defeated Slovenia 32-23. The two
teams will now meet in the semifinals tomorrow.
At Lusail Multipurpose Hall, a goal
from Spanish playmaker Joan Canellas
with two seconds left on the clock decided the match which had been equal
throughout the 60 minutes.
Both teams found the net pretty easily at the beginning of the match which
made it look like the teams were almost
taking turns scoring.
The Danes found their feet with a very
flexible and movable 6-0 defense, while
Spain had their trouble with Danish left
wing Anders Eggert, who scored four
times within the first 11 minutes.
After 13 minutes, Denmark were leading
6-4, but it only took Spain one minute to
pull it even. Canellas gave them their first
lead at 9-8 after 20 minutes of the play.
That lead was increased to 10-8 shortly
afterwards, but the Danes soon came
back at the Spanish again and held them
to an 11-11 draw at half-time.
At the start of the second half, Den-
France’s Daniel Narcisse (left) was the leading scorer for his team against Slovenia in
the quarterfinal with six goals yesterday. PICTURE: Anas Khalid
mark went ahead by two goals again,
and they even had the chance to increase
their lead to three for the first time in the
match, but instead Spain came back again
and levelled at 18-18. The Northern Europeans went ahead for the first time in
the second half at 19-18, a lead which was
soon increased to two goals.
Denmark threw on to go ahead 23-22,
but with a minute left Spain was back in
the lead at 24-23. Mads Mensah Larsen
equalised for Denmark with half a minute
left, but Canella’s goal decided the matter
in favour of Spain leaving the Danes disappointed.
Left winger Valero Rivera scored 10
goals for Spain, while Mikkel Hansen and
Eggert scored six each for Denmark.
FRANCE BEAT SLOVENIA
At Ali Bin Hamad Al Attiya Arena, Olympic and European champions France kept
their hope alive for a hat-trick of titles
defeating last year’s semifinalist Slovenia.
France went into the match as favourites and proved the tag right from the
word go. Their rampant defensive line,
consisting of the Karabatic brothers,
Sorhaindo and other high class players,
was simply unbeatable.
Slovenian shooters lacked penetration
against the outstanding French goalie
Thierry Omeyer, who had made six saves
after only 10 minutes of the match to help
his team to an amazing start (6-1).
The Slovenians, fourth at the 2013 World
Championship in Spain, had to wait three
more minutes to score their second goal in
the match. Jure Dolenec and Dragan Gajic
gave some brief hope to the Slovenian fans
narrowing the gap at 8-4, but Nikola Karabatic showed why he is known as one of the
world’s best players in the next few minutes, taking his team to a seven-goal lead
after 18 minutes (11-4).
Slovenian goalie Gorazd Skof was a key
factor in the last 15 minutes of the match
in which the Balkan boys regained the
power. His attractive saves gave his teammates a boost of confidence.
The Slovenians managed to decrease
the Spanish advantage to four at 24-20
with 11 minutes to go, however, that only
turned out to be a beginning of a furious
French finish.
France’s Daniel Narcisse and Slovenia’s Luka Zvizej scored six goals each
for their sides.
Are you proud that FC Barcelona tops the club ranking of
the 2015 World Championship?
Xavi Pascual: I am always
proud of my team. This number
shows the level of our players and
how important they are for their
national teams. For Barca it is
important to be well represented in a competition like a World
Championship.
In addition, there are or were
20 players on court in Doha,
who had played for Barcelona
earlier…
XP: It proves we have a really
good method to make young
players grow. A lot of players
formed in Barcelona are now in
the best age, but it’s not just for
our work. This result is the effort
of a lot of people who are working hard every day.
Spanish goalkeeper Gonzalo
Pérez de Vargas is putting up
a great performance, but he
is just 24. Is he ready physically?
XP: A few years ago I said that
Gonzalo Pérez de Vargas can be
who he is now, but at this moment, my position needs to be
the opposite. We need to go
slowly and step by step. Gonzalo
can be at a really good level, but
now we need to be patient. We
were trying to find a goalkeeper
for the future for a lot of years.
Just one year ago, people, who
are praising Gonzalo now, were
criticising him.
Which teams surprised you
the most so far in Doha?
XP: Qatar are one of the revelations of the championship. They
are in quarter-finals with a team
without a lot of starts. They
worked very hard and also there
is a difference between the others: they could prepare for the
championship like a club team.
Valero Rivera works very well and
he had the ability to overcome
the shortcomings of his players.
Have you been surprised that
just one non-European team
made it to the quarters?
XP: I am not surprised. Both
Pan American teams, Argentina
and Brazil, made a step forward.
Maybe they lack top competitions at home, but the work of
Jordi Ribera with Brazil is spectacular. Brazil can go quite far in
the Olympic Games. The African
participants disappointed me, I
think that they could have done
better.
What is Valero Rivera’s key to
success?
XP: Valero Rivera is a winner. He
has had two years to prepare the
team and he overcame the team’s
weaknesses. To be in the quarterfinal proves Rivera’s skills.
He was your coach in Barcelona. Is he a role model for
you?
XP: Valero must be a role model
for everybody. Valero is one of
the coaches who always imprinted his teams with his character
and knowledge.
Which teams are your favourites to win gold in Doha?
XP: As always, France first, then
the usual suspects. As Gary
Lineker said about football that
this sport was 11 against 11 and
finally Germany won, I think that
handball is 7 against 7 and finally
France will win.
What do you think about
Doha?
XP: This is my third time in
Doha, but the first one where I
can go out on the streets, because
when we came to play in IHF Super Globe, it was impossible because of the temperature. Doha
is a nice city to spend some days.
How do you rate the World
Championship organizationwise?
XP: The organisation is a 10 –
the facilities, the transport, the
arenas are really awesome, but
maybe too large.
BOTTOMLINE
We are enjoying this moment, says Jicha after President’s Cup win
T
he Czech Republic won the IHF
President’s Cup at the 24th
Men’s Handball World Championship in Qatar, taking the
title after a narrow 32-31 victory over
Belarus.
Czech team captain Filip Jicha lifted
the trophy, presented by the International Handball Federation president
Hassan Moustafa, after a great battle and
a thrilling penalty shootout against their
Belarusian rivals at Duhail Arena.
This was the best possible way that a
handball nation, which had once experienced plenty of success as Czechoslovakia – the country won the world title
in 1967— could celebrate its comeback
to the international stage after an eightyear absence from the World Championships.
The generation of Jicha, Stochl, Sobol,
Horak and some younger guys joined
Algeria (2013), Slovakia (2011), Spain
(2009) and Norway (2007), as winners of
the IHF President’s Cup, established at
the 2007 World Championship in Germany.
“We finished this World Championship in great shape,” said Jicha, the 2010
IHF World Player of the Year.
“I am very happy because of the trophy and my younger teammates who
fought hard to get this award. They
showed character against the strong opponents like Russia and Belarus. I am so
proud. We are enjoying this moment.”
Despite missing out on the eightfinals after Group C action where they
beat Iceland and Algeria convincingly,
the team led by coaching duo Daniel
Kubes and Jan Filip, didn’t give up in the
consolation competition.
“No, we didn’t, even if we were sad,”
Jicha, a left back for THW Kiel, added.
“We managed to stay focused until the
end of the tournament. We showed team
spirit and fought until the end. This is
the reason why this trophy is an amazing
achievement for us.”
Many fans were left to wonder how far
the Czech Republic could have gone had
Jicha, who was sidelined by injury for the
first two matches, been at one hundred
percent fitness.
“Ah, who knows what could have happened? I can’t change that. I was in bed
for six days. This trophy is now even
more important for me.”
This was the sixth Czech appearance at
a World Championships since 1995. More
than the result, which was better in 2005
(10th place) and 2007 (12th place), it was
important that Jicha and his teammates
managed to get back onto the big stage.
The main question now is how they will
maintain consistency at major events.
“It is really hard to say more in this
moment,” Jicha said.
“I have a strong will to play more for
the national team as do my friends here.
As a team, we showed that we can stay
close to any rival. That makes me positive for upcoming events.
France 2017 now awaits the IHF President’s Cup title holders.
Czech Republic captain Filip Jicha (centre) lifts the President’s Cup trophy after his team beat Belarus in the final on
Tuesday at the Duhail Handball Sports Hall in Doha. (EPA)
4
Gulf Times
Thursday, January 29, 2015
TENNIS
SPOTLIGHT / AUSTRALIAN OPEN
Imperious Djokovic downs
Raonic to power into semis
‘Tonight there was not much I could complain about. From the first game till the last I played the way I wanted’
AFP
Melbourne
Djokovic says ready
for another epic
with Wawrinka
S
erb world number one Novak
Djokovic dominated Canada’s
Milos Raonic in straight sets to
claim his fifth Australian Open
semi-final yesterday.
The top seed was in dazzling form
in dishing out a 7-6 (7/5), 6-4, 6-2
hammering of the world number eight
in two hours and will face defending
champion Stan Wawrinka for a place in
Sunday’s final.
Swiss fourth seed Wawrinka upset
Djokovic in last year’s quarter-finals
on the way to winning the Australian
Open for his first major title.
This year Djokovic looks the player
to beat and was in outstanding touch
on Rod Laver Arena, hitting 33 winners
and just 17 unforced errors, with three
service breaks and winning 89 percent
of his first serves.
It will be his 25th Grand Slam semifinal tomorrow.
Raonic, one of the biggest servers in
men’s tennis, could not get one break
Results
Collared results from day 10 of the
Australian Open yesterday:
MEN’S SINGLES
Quarter-finals
Stan Wawrinka (SUI x4) bt Kei
Nishikori (JPN x5) 6-3, 6-4, 7-6 (8/6)
Novak Djokovic (SRB x1) bt Milos
Raonic (CAN x8) 706 (7/5), 6-4, 6-2
WOMEN’S SINGLES
Quarter-finals
Madison Keys (USA) bt Venus Williams (USA x18) 6-3, 4-6, 6-4
Serena Williams (USA x1) bt Dominika Cibulkova (SVK x11) 6-2, 6-2
WOMEN’S DOUBLES
Semi-finals
Bethanie Mattek-Sands (USA)/Lucie
Safarova (CZE) bt Julia Goerges/
Anna-Lena Groenfeld (GER x16)
6-0, retired
Chan Yung-Jan (TPE)/Zheng Jie
(CHN x14) bt Michaella Krajicek
(NED)/Barbora Zahlavova Strycova
(CZE x13) 6-3, 6-2
MEN’S DOUBLES
Quarter-finals
Jean-Julien Rojer (NED)/Horia
Tecau (ROU x6) bt Dominic Inglot
(GBR)/Florin Mergea (ROU x14) 6-4,
7-6 (7/3)
Simone Bolelli/Fabio Fognini (ITA)
bt Pablo Cuevas (URU)/David Marrero (ESP) 7-6 (7/5), 7-6 (7/5)
Serbia’s Novak Djokovic hits a return against Canada’s Milos Raonic during their men’s singles match on day ten of the 2015 Australian Open in Melbourne.
point on Djokovic’s serve, with the
Serb now dropping only one service
game in the tournament.
“I take a lot of confidence and I try
to carry that in every match. Stan and I
played five-set matches in the last two
Australian Opens,” Djokovic said.
‘READY FOR A FIGHT’
“I’m going to be ready for a fight. But
knowing that I have raised the level of
performance tonight, and probably
playing the best match of the tournament so far is affecting my confidence
in a positive way.
“Hopefully I can carry that into next
one. I served very well and overall it
was a great match against one of the up
and coming rising stars.”
Djokovic said he felt supremely confident about his game heading into the
business end of the tournament.
“Tonight there was not much I could
complain about. From the first game
till the last I played the way I wanted. I
created a lot of break point opportunities,” he said.
“The key of tonight’s match was to
get as many balls back in play. I executed very, very well. It’s easier said
than done, but I feel very good about
my game in this moment.”
Raonic has yet to beat the world
number one in five encounters and
went into the match with the most
aces in the tournament, but could
only manage 15, well down on the 25 he
had been averaging in his earlier four
matches.
Djokovic, who is chasing a fifth Australian title and eighth Grand Slam, had
few problems with the big-serving Canadian and had break points in two service games before he claimed the opening
set in a tiebreaker in 56 minutes.
Raonic could not lay a glove on the
world number one, who pounced with
a service break in the opening game of
the second set.
The top seed cracked Raonic’s serve
twice in the final set to cruise to the
finish line.
“He just didn’t allow me to organise
my game. Even when he was returning well, by the end of the match he
was doing a good job of playing deep
and never allowing me to go forward,”
Raonic said.
“He was pretty much on the baseline
the whole time and I was further back.”
BOTTOMLINE
STRIDING ON
Wawrinka downs Nishikori to
keep his title defence alive
AFP
Melbourne
D
efending
champion
Stan Wawrinka frittered
five
match
points before sealing a
straight sets win over Japanese
superstar Kei Nishikori to reach
the semi-finals at the Australian
Open yesterday.
The Swiss fourth seed won 6-3,
6-4, 7-6 (8/6) in just over two
hours and will now face either
world number one Novak Djokovic or eighth seed Milos Raonic for
a place in Sunday’s final.
Nishikori had mastered the
Swiss over five sets in the quarter-finals at last year’s US Open,
but it was a far different outcome
this time.
Wawrinka dominated with his
serve and backhand to reach his
third Grand Slam semi-final and
a chance of playing in back-toback finals at the Australian Open.
He broke Nishikori’s service
three times and lost serve only
once, while winning 86 percent
of his first-serve points.
Wawrinka looked set to romp
away with the tiebreaker in the
final set, holding five match
points at 6-1 only to tighten up
and almost throw it away.
After booking a much-anticipated
semi-final with his Australian
Open title usurper Stan Wawrinka
yesterday, Novak Djokovic wasted
little time reminding the Swiss
of the heavy burden of being
defending champion.
Djokovic’s three-year reign at
Melbourne Park was ended by the
Swiss last January in an epic fiveset quarter-final, which followed a
year after fending off Wawrinka in
another nerve-jangling marathon
in the fourth round.
Djokovic praised Wawrinka’s
impressive win over Nishikori,
having watched it closely, but was
also glowing about his own form
ahead of the showdown with the
player who ended his run of 14
consecutive grand slam semifinals in Melbourne last year.
“He played a great match,”
Djokovic said of Wawrinka’s win.
“Kei has been playing his best
tennis in the last 12 months. To be
able to win straight sets against
him is pretty impressive.
“Being the defending champion,
obviously he’s got some of the
pressure here. He is facing this kind
of role for the first time in his life.”
Already in scintillating form,
Djokovic raised his level again in
routing Raonic, who was supposed
to offer the first real test for the Serb.
He cancelled out the Canadian’s
formidable serve with a clinical
returning game, breaking him
three times while not giving up a
single break point from his own
racquet.
The four-times champion has not
lost a set during the tournament
and has only been broken once.
Djokovic, an enthusiastic reviewer
of his past matches, said he would
go through the video of last year’s
match but would avoid watching
the agonising last point when he hit
a most un-Novak-like volley into the
tramlines to concede the match.
“Everything else is fine,” he said.
“Again, of course you need to do a
video analysis.
“You need to get yourself in the
right state of mind for the matches
like this, because this is now semifinals of a grand slam and you’re
playing a top player.
“There is no going back now. It’s the
time to perform the best you can.”
Stan Wawrinka of Switzerland comforts Kei Nishikori (right) of Japan after defeating him yesterday.
“When he came back from
6-1 to 6-6 he was playing good,
aggressive. I was a little bit hesitant,” Wawrinka said
“I didn’t put in first serve. It’s
never easy when you have so
many match points to focus after.
“But at 6-6 I had the wind
again. I was trying to be aggressive. I was lucky that he missed
the dropshot and happy to make
an ace after.”
Wawrinka would have slipped
from four to 10th in the rankings
if he had lost and still has a huge
task ahead to defend his title.
“I’m more aggressive. I’m
more confident with my game
when I come to the net,” he said.
“It’s a Grand Slam. You play eve-
ry two days. Today was a great
level, was a great match.
“I’m going to enjoy it a little bit,
watch who’s going to win tonight
and get ready for the semi-final.”
Wawrinka set out to attack
Nishikori’s forehand and got a
service break in the fourth game
after the 25-year-old netted a
forehand.
The Japanese star fought off
two set points in the eighth game
before Wawrinka served out for
the opening set.
Nishikori again came under
pressure in the second set and was
broken in the fifth by a scorching
Wawrinka backhand winner. The
Japanese star saved three break
points in his next service game
before Wawrinka served out for a
two sets to love lead.
The US Open finalist jumped
out to a 2-0 lead in the third set,
but the Swiss quickly broke to
love with a cracking backhand
cross-court winner and then
levelled up.
Both players swapped breaks
early in the third set before
Wawrinka stormed to five match
points in the tiebreaker.
But he lost them all before
Nishikori attempted a netted
drop shot from the baseline to
set up another match point.
Wawrinka made no mistake
with an ace to clinch victory.
“I know I now have a Grand
Slam trophy at home. I also won
the Davis Cup. I have confidence
from that,” said the Swiss.
“I know I can make it. I trust
my game. I trust myself on the
court even when we start to
play in a semi-final or final at a
Grand Slam.”
Sania, Paes in Aus
Open semi-finals
Martina Hingis and her mixed doubles partner Leander Paes of India.
IANS
Melbourne
I
ndian tennis stars Leander Paes and Sania Mirza
reached the mixed doubles
semi-finals after they won
their respective matches at the
Australian Open here yesterday.
Top seeded duo Sania and Bruno Soares marched into the semis
after beating unseeded local pair
Casey Dellacqua and John Peers
6-2, 6-2 in a last-eight match
which lasted 53 minutes on Court
No.2 of Melbourne Park.
A little while later, Paes, partnering veteran Martina Hingis
of Switzerland, defeated the
Czech-Austrian combine of Andrea Hlavackova and Alexander
Peya 6-3, 6-1 at the Rod Laver
Arena. The quarter-final lasted
only 52 minutes.
Sania and Bruno started their
match on a bright note, breaking
their opponents twice to claim
the first set 6-2 in just 23 minutes. The Indo-Brazilian pair
continued their ascendancy by
leading 4-2 and going on to win
the second set with an identical first set score in another 30
minutes.
The victors hit 18 winners and
committed 10 unforced errors
on their way to victory. They are
scheduled to play the winner of
the quarter-final between third
seeds Kristina Mladenovic of
France and Canada’s Daniel Nestor and fifth seeds Cara Black of
Zimbabwe and Juan Sebastian
Cabal of Colombia.
Later, seventh seeds Paes
and Hingis easily reached home
by breaking their opponents
five times, four more than the
fourth seeds.
Gulf Times
Thursday, January 29, 2015
5
SPORT
SPOTLIGHT / AUSTRALIAN OPEN
PAIN OF FAILURE
Queen Serena
under threat from
Keys in semi-finals
Madison Keys defeated Venus Williams despite carrying a thigh injury and may be
one of the few women who can match the 18-time grand slam champ for raw power
Six Nations failures
‘burn inside’, says
Eng coach Lancaster
England’s head coach Stuart Lancaster (right) and captain, Chris
Robshaw pose with the new Six Nations trophy.
Reuters
London
S
Serena Williams of the US celebrates winning a point over Dominika Cibulkova of Slovakia during their women’s singles quarter-final match at the Australian Open yesterday.
will be in no mood to abdicate to a younger rival in the second match at Rod Laver
Arena.
Whoever goes through will meet a
Russian in the final, with second seed
Maria Sharapova taking on the muchimproved Ekaterina Makarova in the
opener on centre court.
Sharapova was in full flight as she destroyed Canada’s Eugenie Bouchard in
straight sets in their quarter-final on
Tuesday.
Reuters
Melbourne
S
erena Williams will bid to slow
the charge of the next generation
of American tennis when she faces teenager Madison Keys in the
semi-finals of the Australian Open today.
The top seed was irrepressible in her
quarter-final defeat of Dominika Cibulkova, needing only two sets and scarcely
more than an hour to send the 11th seed
and last year’s finalist crashing out of the
tournament.
On her best run at Melbourne Park
since her 2010 title, Williams has any
number of reasons to be switched on
against 19-year-old Keys in their first
match.
The teenager defeated her older sister
Venus despite carrying a thigh injury and
may be one of the few women who can
match the 18-times grand slam champion for raw power on her ground-strokes.
Another intriguing element sits in
Keys’ player’s box.
Former world number one Lind-
American teenager Madison Keys.
say Davenport has taken on the United
States’ most promising young talent and
is well versed in Williams’ game.
Davenport and Williams met 14 times
on the women’s tour and clashed in the
final of the 2005 Australian Open, Williams winning it in three sets.
Perhaps more definitive will be Williams’ hunger. The American has been
queen of US tennis for over a decade and
FREIGHT TRAIN
In Makarova, the statuesque 27-year-old
will grapple with a different beast, a lefthander and grand slam doubles champion who has been content to fly under the
radar even as she has been quietly accumulating impressive results.
Makarova broke through for her maiden grand slam semi-final at the US Open
last year and has been like a freight train
at Melbourne Park.
She mowed through nervous third seed
Simona Halep in two quickfire sets and
has not lost a set all tournament.
On the men’s side, sixth seed Andy
Murray and seventh seed Tomas Berdych
play in the first semi-final in the evening
session at Rod Laver Arena.
The big-serving Berdych overcame his
long-time nemesis Rafa Nadal in their
quarter-final, in doing so preventing a
record 18-match losing streak in the professional era of the men’s game.
A three-times finalist at Melbourne
Park, Murray dispatched another crowd
favourite in the form of local teenager
Nick Kyrgios and appears in better touch
to bring down the rangy Berdych than
Nadal, who was coming back from injury
and illness.
Berdych credited Andy Murray’s
former assistant coach Dani Vallverdu,
now working in his camp, for helping him
on the “perfect” plan to defeat Nadal.
Vallverdu will have unique insight into
Murray’s game, having worked with the
Briton for years.
His input could prove important for
Berdych’s chances, as the Czech, rated
one of the best players in the men’s
game yet to clinch a grand slam title,
seeks to break through to his first Melbourne Park title.
BOTTOMLINE
Berdych stands in the way of
Murray’s fourth Aussie final
AFP
Melbourne
B
ritish hope Andy Murray has tenacious Tomas
Berdych standing between him and playing
in a fourth Australian Open final
in six years in today’s semi-final.
The first Grand Slam tournament of the year has been a heartbreak major for the Scot with
three runner-up finishes, but he
gets another chance to finally
crack the big-time if he can get
past the giant-serving Czech.
Two-time Grand Slam champion Murray, 27, is bidding to become the first British winner of
the Australian Open since Fred
Perry in 1934.
“It’s nice to be in the latter
stages of a slam again,” Murray
said. “Obviously I want to do as
best as possible, but all you can
Tomas Berdych of the Czech Republic poses for a selfie.
do is prepare as best you can,
which I certainly did over the
last few weeks and months.
“I’ve given myself a good opportunity again, and hopefully I
can use it to my advantage.”
Berdych, widely seen as the
best player yet to win a major,
holds a 6-4 winning record over
his rival and has won their last
two meetings, although it is 1-1
in the slams.
He has marched into the last
four with five straight-sets
victories, while Murray has
only dropped one set, in his
tough fourth-round encounter against popular Bulgarian
Grigor Dimitrov.
“He’s a big guy. He strikes the
ball very well, he serves well and
he’s fairly calm on the court,”
Murray said of the Czech.
“I think he manages emotions fairly well and he’s played
extremely well this tournament
so far. He’ll be coming into the
match with confidence.”
Adding spice to their showdown is the presence of former
Murray team member Dani Vallverdu as Berdych’s coach.
Berdych attributed the tactical help of Vallverdu in his quarter-final upset of 14-time Grand
Slam champion Rafael Nadal,
but Murray was dismissive of
any new insights the Czech may
glean from his new mentor.
“My goal isn’t to beat Dani,
my goal is to beat Berdych. So I
won’t be thinking about that in
the next days,” Murray scoffed.
“We’ll see how the match
plays out and what the tactics
are and stuff. But I also know
what Dani thinks of Berdych’s
game because he’s told me, so it
works both ways.”
Berdych ended a recordequalling 17-match winning run
Nadal had over him to claim his
second consecutive semi-final
appearance in Melbourne after losing to eventual champion
Stan Wawrinka last year.
“If you have a plan it’s nice
thing, but if you never tried it
before or never practised before,
I mean, that’s useless,” he said.
“I’m not going to change anything else. Just try to focus on
my things and keep going for it,”
added Berdych.
tuart Lancaster said England’s failure to land the
Six Nations championship on his watch “burns
inside” as he prepares for his
fourth tilt at the title after a hattrick of second places.
England have won the Six Nations only once since winning
the World Cup in 2003 -- under
Martin Johnson in 2011 -- and
with such a huge pool of talent to
pick from, it is an unimpressive
record.
“We are frustrated we haven’t
nailed down that championship
win—it does burn inside us,”
Lancaster told reporters at the
official tournament launch in
London yesterday.
“But you have to earn the right
to stamp your authority; there
are a lot of good teams out there
who will have the same motivation as us.
“We’ve been close a couple of
times, when maybe the bounce
of the ball another way could
have made a difference.”
England started with a somewhat unlucky defeat away to
France last year but came back
strongly to win their next four
games and narrowly miss out on
the title to Ireland on points difference
This year the face a similarly
tough opener, in the tournament’s first match, away to Wales
on Friday Feb. 6.
Two years ago England trav-
elled to Cardiff hoping for a
grand slam but were demolished
30-3 in what has since turned
out to be one of the pivotal games
of Lancaster’s tenure.
“There have been a few big
pressure games, last year at home
to Wales because of the World
Cup (being in the same pool for
2015) was a big one,” he said.
“But that was an important
game two years ago and it’s right
that you probably learn more
from your defeats than your victories.”
Lancaster said that, after three
years in the job and the World
Cup now only eight months
away, the “development phase”
was over and it was all about results.
However, such is the rash of
injuries he has had to deal with
this season that he is still some
way from being able to select a
settled side.
Midfield remains a minefield with Manu Tuilagi likely to
miss the whole tournament and
Brad Barritt, Luther Burrell and
Kyle Eastmond all fighting to
overcome knocks, leaving Billy
Twelvetrees and Jonathan Joseph
likely to be wrapped in cotton
wool in training this week.
The good news for Lancaster,
however, is that his pack, particularly the front row, has real
strength in depth and is a match
for anyone.
“We got to the stage where we
want performances to lead to
wins,” Lancaster said. “Whatever takes to win we’ll try to
achieve it.”
SIX NATIONS / RUGBY
Schmidt ignores talk
of Ireland being the
title favourites
Reuters
London
T
alk of Ireland being favourites to retain their
Six Nations championship crown is a distraction head coach Joe Schmidt is
doing his best to ignore.
The holders, who open their
campaign against Italy in Rome
on Feb. 7, have won seven matches in succession, including November victories over southern
hemisphere big guns South Africa and Australia.
But Schmidt said that, with
this being World Cup year, every
team in the tournament are likely
to have improved.
“Being labelled a favourite?
We were unaware of that until
this morning to be honest because you do live in a bit of a
bubble,” Schmidt told reporters
at the Six Nations media launch
yesterday.
“For us to be favourites is a
distraction, it’s somebody’s
speculation...,” he added.
Ireland have been installed as
joint favourites to win the Six
Nations championship by several bookmakers, including William Hill who have them at odds
of 15-8 along with England.
“We try to stay focused on one
game at a time. If I was to speculate I might come up with a different favourite,” added Schmidt.
Ireland have risen to third in
the world rankings, behind world
champions New Zealand and
South Africa who they beat 2915 in Dublin in November.
“You just try and get better at
what you are doing, the peripheral things that occur... rankings,
or tag of favourites I don’t think
either of those are going to tangibly add value to performances,”
added Schmidt, one of three New
Ireland’s coach Joe Schmidt.
Zealanders to be head coach with
Six Nations teams, along with
Warren Gatland (Wales) and
Vern Cotter (Scotland).
CONCUSSION PROTOCOLS
Ireland flyhalf Johnny Sexton is
almost certain to miss the Italy
game because of concussion
protocols and Schmidt said he
would not be risked until he was
fully ready to return.
The Racing Metro player must
observe a 12-week lay-off period
but Schmidt hopes he could be
available when France visit Dublin on Feb. 14.
“Johnny is feeling great. He’s
been training with Racing Metro
doing everything but full contact.
“Bearing that in mind, he
should be back but with it being
a big year... anything to do with
concussion, we want to make
sure he is as well looked after as
he can be and that the right sort
of opinions have been sought.
“It’s really important to be patient and to make sure he’s fully
recovered and we adhere to the
12-week period.”
Schmidt is hopeful that
scrumhalf Conor Murray will recover from a neck injury in time
to line up against Italy.
Gulf Times
Thursday, January 29, 2015
6
CRICKET
SPOTLIGHT
Afghans
Scots
eager to
succeed
aim to shock
AFP
Glasgow
S
The Afghans turned out in large numbers when the World Cup trophy visited Kabul in September last year.
AFP
London
A
fghanistan hope to follow the World
Cup giant-killing blueprint drawn up
by fellow outsiders Ireland when they
make their debut at the game’s showpiece tournament.
Ireland defeated mighty Pakistan to reach the
Super Eights stage at the 2007 World Cup in the
Caribbean before defeating England in a highscoring match in the 2011 tournament in India.
“My wish would be to emulate what Ireland
have done in the last couple of World Cups. They
have caused shocks by playing positive, entertaining cricket,” said Andy Moles, who replaced
former Pakistan paceman Kabir Khan as Afghan-
istan coach in September last year.
It was Kabir who lifted the nascent cricket nation from division five in 2008 to narrowly missing out on a berth in the 2011 World Cup.
Another former Pakistani international, Rashid Latif, then helped Afghanistan reach the the
2010 World Twenty20 and take the silver medal
at the 2010 Asian Games in China.
Latif believes Afghanistan should not worry
about results in the World Cup in Australia and
New Zealand where they will face both co-hosts
as well as Sri Lanka, England, Bangladesh and
Scotland in the group stages.
“I have faith in them. The way they are investing money, the Afghanistan team will beat top
teams in the next five years,” said Latif.
But he also cautioned: “I don’t want them to go
down like Kenya.”
The African nation reached the semi-finals of
the 2003 World Cup but their fall from grace led
them to losing their one-day international credentials.
“For me they should gain more and more experience and with that learn to play better after
the World Cup.
“I want them to play in a manner that if the
kids are watching on television back home they
will feel proud of them.”
With two channels pledging live coverage,
Afghanistan will begin their maiden World Cup
campaign against Bangladesh in Canberra on
February 18.
Afghanistan will take heart from their shock
win over Bangladesh in the Asia Cup in Dhaka
last year.
It was their first win in 10 one-day interna-
tionals against a Test-playing nation.
But like most of the Asian and Associates
teams, batting on bouncy Australian pitches and
coping with swing in New Zealand will be the
main challenge.
Afghanistan’s batsmen know one way of batting—to attack.
“The biggest challenge is going to be how the
batsmen handle the quicker bowlers. Playing in
Australia is going to be quite brutal for some of
these guys who aren’t used to those conditions,”
said Moles.
“I will work hard to get them as much confidence as possible, to play without fear of failure
and, if they see an opportunity at any stage in a
game, to take it.
“I’d like them to enjoy the challenge that lies
ahead of them.”
OPINION
FOCUS
Pietersen backs Morgan to lead
England to World Cup success
By Chris Stocks
theguardian.com
K
evin Pietersen has backed
Eoin Morgan to lead England to success at the
World Cup and believes
the team’s performances in the
Tri-Series have justified the decision to sack Alastair Cook as oneday captain.
Morgan took over the team following Cook’s exit shortly after
the tour of Sri Lanka late last year,
when the opener’s poor form was
brutally exposed during a 5-2
ODI series defeat. Things have
improved in Australia, with Ian
Bell scoring big runs as Cook’s replacement at the top of the order
and England scoring more than
300 in four of their five games so
far.
England may have lost twice to
Australia – including their opening Tri-Series match against the
hosts in Sydney when they made
234 batting first – but a win against
India in Perth tomorrow will see
them into the final.
Pietersen, speaking after his
successful Big Bash stint with Melbourne Stars, said: “Now they have
got Eoin Morgan as skipper I think
England are going to go really well.
They’re getting scores over 300
and Ian Bell is batting beautifully.”
The 34-year-old, sacked by
England last February, thinks Eng-
cotland arrive at what
will be their third World
Cup desperate for a
maiden tournament victory after eight defeats combined at the 1999 and 2007 editions.
For a non-Test nation, the
Scots’ World Cup record may
not seem that surprising but the
fact they bowed out of the 2007
World Cup in the Caribbean with
a crushing eight-wicket defeat
by fellow associate country the
Netherlands tells its own story.
For many years Scotland were
regarded as one of the premier
non-Test nations, supplying an
England captain in the late Mike
Denness during the 1970s and
county stalwarts such as Essex’s
Brian Hardie.
However, recently they’ve had
to look on enviously as Ireland,
the Netherlands and Afghanistan have all shone on the world
stage, with Bangladesh making
the transition from associate to
Test status.
“We’ve underachieved over
the last five to ten years,” Scotland all-rounder Calum MacLeod told the CricInfo website.
“We need to beat some Full
Members (Test nations). If we
manage to do that then the exposure of the game will increase,”
he added, conscious of how such
victories have been a catalyst for
the growth of Irish cricket.
Scotland’s squad for the
World Cup features seasoned
Northamptonshire
batsman
Kyle Coetzer while a change in
qualification regulations, which
allows British passport holders
with Scottish parentage to play
for them, has paved the way for
the likes of Leicestershire allrounder Rob Taylor, Sussex batsman Matt Machan and Yorkshire
seamer Iain Wardlaw to be included in the 15-man party.
The backroom staff is even
more cosmopolitan with head
coach Grant Bradburn, a former
New Zealand Test cricketer, assisted by ex-England all-rounder Paul Collingwood.
Both Bradburn and Collingwood will be looking to defeat
their native countries, with New
Zealand, the tournament cohosts, and England the Scots’
opening two pool opponents.
Collingwood, still playing
county cricket for Durham, has
forged a reputation as a tough,
competitive professional and
has been helping Scotland with
the mental side of their game in
particular.
England captain Eoin Morgan
land’s decision to relieve Cook of
his one-day duties was the right
call.
“I’ve been in that team and
players talk,” he said. “If Cook’s
position was being spoken about
as much as it was on TV and in the
media then I know it was being
talked about in the dressing room.
“I’m just happy it was done for
Cook’s sake, for England’s sake
and they can move forward with
the one-day side now. You can just
see it with the scores they are get-
ting now. I know there was a stutter against Australia in Sydney but
that can happen and doesn’t mean
anything.”
Pietersen, though,
was less enthusiastic about England’s bowlers, particularly Stuart
Broad, who is returning from a
four-month lay-off following knee
surgery.
“It’s a very exciting batting
team, I just have a little reservation
about the bowling,” he said.
“Jimmy Anderson looks great
but Broady doesn’t look quite
right. He’s not bowling as fast as
he could which might be down to
coming back off his knee injury.
Hopefully he will get a bit faster.”
There was also criticism about
England’s decision to leave Ben
Stokes out of their touring party,
the Durham all-rounder paying
the price for a poor run of one-day
form.
“I just think England missed
a trick with Ben Stokes,” said Pietersen. “Imagine him batting at
three and doing a Jacques Kallis
job? He came out here to the Big
Bash and first game, batting at
three, he hit 70-odd from 30 balls.
“Just imagine him in that line
up? Ali, Bell, Stokes, Root, Morgan,
Bopara, Buttler. Would you want to
bowl at that?”
“He’s had a poor year but he’s
been up and down and thrown
around. He’s played a lot of cricket
against sub-continental teams
whereas the World Cup is in Australia and he was one batter last year
who did so well in the Ashes here,
scoring that century here in Perth.
“I understand he’s had a poor
run but that was mainly on the
sub-continent and against spinners.”
Lee denied
fairytale hat-trick
in final match
Reuters
Canberra
B
rett Lee was denied
a last-ball hat-trick
and a fairytale end to
his professional cricket career as the Perth Scorchers scrambled a single off the
fast bowler to win back-toback Big Bash League titles in
Canberra yesterday.
The Twenty20 final was the
38-year-old former Australia
paceman Lee’s last match and
he came on to bowl the final
over for the Sydney Sixers with
the opposition needing eight
runs.
The Perth side looked in
firm control needing one run
from three balls in their chase
of 148 but Lee, who has played
76 Tests and 221 one-day internationals for Australia, was
not ready to bow out without a
final flourish.
Having dismissed Michael
Klinger for his first wicket earlier, Lee clean bowled Nathan
Coulter-Nile (seven) and Sam
Whiteman (zero) with the
fourth and fifth ball of the final
over to give Sydney hopes of an
unlikely tie.
He was right on target with
his hat-trick ball but Sydney
captain Moises Henriques
fumbled a throw at the nonstriker’s end to allow Yasir
Arafat, who was well short of
the crease, to complete the required single for victory.
Lee finished his career with
3-25 off four overs as Perth
won by four wickets to win
their second consecutive title.
Gulf Times
Thursday, January 29, 2015
7
GOLF
PREVIEW
SPOTLIGHT
Super Bowl, Tiger
give Phoenix Open
that extra spark
Smiling Woods
reveals a full
set of teeth
‘We golfers are really looking forward to this week’
Tiger Woods smiles during a press conference on Tuesday.
PICTURE: Allan Henry-USA TODAY Sports
Reuters
Scottsdale
T
Tiger Woods hits from the sand trap during a practice round at TPC Scottsdale. PICTURE: Mark J Rebilas-USA TODAY Sports
Reuters
Scottsdale, Arizona
T
he Phoenix Open and Super Bowl
are both being staged this week in
the Phoenix area and Patrick Reed,
one of the hottest players on the
PGA Tour, is licking his lips in anticipation.
The National Football League’s showpiece is the biggest sports event in the
United States while the $6.3mn Phoenix
Open, played at the TPC Scottsdale, is
renowned for its raucous crowds and the
loudest hole in golf.
Add to that the return of former world
number one Tiger Woods to PGA Tour
action this week, for the first time in five
months, and you have all the ingredients
for a sporting extravaganza in the Grand
Canyon State over the next five days.
“It’s going to be a lot of fun,” American
Reed told Reuters on Tuesday after completing a practice round on the par-71 TPC
Scottsdale layout.
“We golfers are really looking forward to
this week and hopefully we will hit a lot of
good shots and get the crowds here roaring
even louder.”
Reed, aged 24 and already a four-time
winner on the PGA Tour, made his debut at
the Phoenix Open on Scottsdale’s Stadium
Course last year and has vivid memories of
the infamous par-three 16th, the noisiest
hole in golf.
Thousands of spectators cram into
the bleachers and sky boxes surrounding
the 163-yard hole, many more swarming
across the grassed hill that faces the green,
and they loudly boo any golfer who fails to
hit the green off the tee.
“I got booed three times because I
missed the green three out of four days,”
grinned Reed, who tied for 19th here last
year. “But the one time I hit the green, I
one-hopped it into the stick to about a foot
so I played the hole in under par and that’s
all you can ask for.”
Reed, who 15 days ago won the PGA
Tour’s opening event of the year, the Hyundai Tournament of Champions at Kapalua, will tee off in a high-profile grouping
for Thursday’s opening round at Scottsdale
with fellow young gun Jordan Spieth and
Woods.
Masters champion Bubba Watson, the
world number four, heads a strong field
this week in the Arizona desert where
10th-ranked American Matt Kuchar, Rickie Fowler (11th) and three-times former
winner Phil Mickelson are also competing.
The Super Bowl is played on Sunday at
the nearby University of Phoenix stadium
in Glendale, Arizona.
iger Woods, set to compete at the Waste Management Phoenix Open
this week for the first
time in 14 years, was in a humourous mood on Tuesday as he
spoke about his rusty game and
a repaired set of teeth.
Eight days ago, Woods lost
a front tooth and had another
cracked by a video camera after
watching his girlfriend Lindsey
Vonn claim a record 63rd World
Cup Alpine ski win in Italy.
Woods said the collision occurred after he had climbed a
hill to watch the podium presentation with all the photographers jostling for position below
him.
“That didn’t feel very good,”
the former world number one,
who this week will be playing
only his second tournament in
five months due to back problems, told reporters ahead of today’s opening round at the TPC
Scottsdale.
“I was looking down, and all
the camera guys are below me
on their knees or moving all
around, trying to get a picture
because she’s (Lindsey’s) hugging people, saying congratulations to the other racers as they
are coming down.
“Dude with a video camera
on his shoulder, right in front
of me, kneeling, stood up and
turned and caught me square on
the mouth. He chipped that one,
cracked the other one.”
Woods had surprised Vonn
when he turned up at Cortina
d’Ampezzo for the Super-G race,
and wore a skeleton-patterned
scarf over his face in a bid to stay
as anonymous as possible.
“Trying to blend in, because
there’s not a lot of brown dudes
at ski races, okay?” he smiled,
sparking roars of laughter from
the reporters gathered around
him.
“I’m trying to keep this
(mask) thing on so the blood is
not all over the place, and luckily he hit the one (tooth) I had
the root canal on.”
Woods, who played nine holes
in practice on Tuesday, said he
experienced the most pain during his flight home to Florida.
“I couldn’t eat, couldn’t drink
until he (the dentist) fixed them,
put the temporaries on,” he said.
“Even breathing hurt, because
any kind of air over the nerve ...
the tooth that was still alive, was
cracked.”
Limited to nine tournaments
worldwide last year due to back
issues, Woods has not played in a
PGA Tour event since he missed
the cut at the PGA Championship in August and conceded
that his chipping had required
the most work.
“My driving has come around
a lot faster,” said the 39-yearold. “My speed is way back up.
Chipping, I was caught between
techniques ... we had to basically hit thousands upon thousands upon thousands of chips.
Now it’s better.”
COMEBACK
Singapore Open to
return next year
with new sponsor
BOTTOMLINE
Top names teeing off in Dubai
AFP
Dubai
T
hree of the top-five ranked
players in the world will head a
stellar field assembled for this
week’s Dubai Desert Classic,
which tees today.
World number one Rory McIlroy
(2009) and number two Henrik Stenson (2007) have already won the tournament once before, while number
five Sergio Garcia will be searching for
his first triumph at the Emirates Golf
Club.
European Ryder Cup regulars Graeme McDowell and Lee Westwood
would be playing their first event of
the new year, while Germany’s world
number 12 Martin Kaymer is attempting to make a comeback from his unexpected final-round meltdown in Abu
Dhabi a couple of weeks ago, when he
lost despite leading the tournament by
10 shots at one stage.
Scotland’s world number 34 Stephen
Gallacher is the twice defending
champion.
A win on Sunday will not only tie
him with Ernie Els as the most successful player in the 26-year-old history of the tournament, but also make
him only the sixth player on the European Tour to win the same tournament
in three consecutive years.
Gallacher, runner-up in 2012 and
winner the last two years, would join
the select club of Ian Woosnam, Nick
Faldo, Colin Montgomerie, Tiger
Rory McIlroy of Northern Ireland speaks during a press conference in Dubai
yesterday.
Woods and Els with a third consecutive win.
The Scotsman, who is 55-under at
the venue in his last three visits, said:
“It’s great to be associated with them,
isn’t it? I’ve earned my place to be associated with them, so I cannot change
it now. It’s there.
“The only thing I can do is add to it
and I would love to.
“It is hard to do, but I’ve got a chance
to do it. I’ve got expectations of what
I want this week but I’m not going to
put myself under any more pressure. If
it happens, brilliant.
“I just want to give it my best shot.”
Kaymer was surprisingly candid in
talking about his Abu Dhabi experience and insisted it has been one of
the greatest learning experiences of
his life.
“What happened on Sunday has
never happened in my career before leading by six, seven, ten shots at one
stage, and then losing,” said the German world number 12.
“It was a new situation, and something I’m actually very glad that it
happened, because it is bound to happen at some stage in your career.
“They are not nice when they happen, but afterwards, you are even more
motivated because you grow not only
as a golfer, but also as a person.
“ou became more mature. It was
almost like a life lesson, and I’m very
glad that happened.”
The $2.5 million tournament, the
oldest tournament in the region, will
be played Thursday to Sunday.
Masayuki Shimura (bottom L), managing director and head of Asia
Pacific division, Sumitomo Mitsui Banking Corporation (SMBC), and
Masayoshi Takaba (R), vice-chairman of Japan golf tour organisation,
look at the trophy for the Singapore Open golf tournament in
Singapore yesterday.
AFP
Singapore
T
he Singapore Open,
once billed as “Asia’s
Major”, will return next
year for the first time
since 2012 with a new title sponsor, organisers said yesterday.
The Asian Tour said in a
statement that Japan’s Sumitomo Mitsui Banking Corp
(SMBC) has signed a three-year
deal to be the main sponsor of
the event at Singapore’s Sentosa
Golf Club.
The tournament, formerly
one of the region’s richest with
prize money of $6mn when last
held in November 2012, was
cancelled in 2013 when British
bank Barclays decided not renew its sponsorship.
“The Singapore Open was always one of our best events... it
is tremendous to have it back as
it is an important event for our
region and our tour,” Asian Tour
Chairman Kyi Hla Han said in
the statement.
“On behalf of our members
I would like to thank SMBC for
their support and we eagerly
look forward to teeing it up a
year from now,” Kyi added.
Masayuki Shimura, SMBC’s
managing director, told reporters at a press conference in
Singapore that it was a “great
honour” for the Japanese firm to
revive the tournament.
“We are always looking to
invest in major sporting events
in the region and the Singapore
Open is certainly one of them,”
he said.
Financial details of the sponsorship deal were not released
but the Asian Tour said the
tournament, to be held from
January 28-31 next year, will
have a “minimum prize purse of
US$1 million”.
8
Gulf Times
Thursday, January 29, 2015
SPORT
SPOTLIGHT / NBA
FOCUS
Gritty Bulls down
Warriors to end
home winning run
The Golden State Warriors haven’t had many teams truly challenge them but they
finally got a real fight from the Chicago Bulls and their first home loss since Nov. 11
Wizards beat Lakers
with easy 98-92 win
MCT
Los Angeles
O
n a night they came
to honour Los Angeles Lakers owner Jerry
Buss on his birthday, a
night that was called “Remembering Dr. Jerry Buss,” the 201415 edition of injury-riddled Lakers played inspired.
But the career nights from
the Lakers starting backcourt
of Wayne Ellington and Jordan Clarkson wasn’t enough to
stop the Washington Wizards
from rallying for a 98-92 victory
Tuesday night at Staples Center.
Washington’s backcourt of
John Wall (21 points, 13 assists,
nine rebounds) and Bradley Beal
(19 points) helped the Wizards
pull out the win.
Ellington had 28 and rookie
point guard Clarkson had 18
points in his third start of the
season.
They were just two of the players Coach Byron Scott said the
team was going to “evaluate”
this season while Kobe Bryant
is out with a torn rotator cuff in
his right shoulder and while Nick
Young recovers from a sprained
right ankle.
“I’m getting more comfortable,” Clarkson said. “I just want
to continue to get better.”
Ellington and Clarkson combined for half of the Lakers’
points and helped them build
a 19-point lead in the first half
before Los Angeles lost to a Wizards team with the second-best
record in the Eastern Conference.
“I just made up my mind that
I was going to come out aggressive,” Ellington said. “We’re a
team that needs to be hungry.”
Scott played for the Lakers in
the 80s during the Showtime era,
when Buss was in the midst of
winning 10 NBA championships.
Buss, who passed away almost
John Wall of the Washington
Wizards drives with ball against
the Los Angeles Lakers.
two years ago, would have turned
82 on the 27th of January if he
was still alive.
Jeanie Buss, Jerry’s daughter
and the president of the Lakers,
sat in her usual seat at Staples
Center, a row behind the courtside seats.
The team gave out Lakers’
rings to fans as they entered the
building, and the team gave the
fans something to cheer about
despite losing their ninth consecutive game, 11 of 12.
With so many injuries on a
roster that’s not very good to begin with, Scott was asked what
Jerry’s message would be to the
team.
“Stay the course. Stay the
course,” Scott said. “We know
we’re going through some rough
times right now. The water is
rough, but just stay the course.
It’ll get back to where it’s smooth
sailing and everything will line
up like it should. That means the
Lakers will be back to a championship-caliber team.”
NHL
Derrick Rose (right) of the Chicago Bulls shoots the game-winning basket over Klay Thompson of the Golden State Warriors in overtime at Oracle Arena.
MCT
Oakland
T
he Golden State Warriors haven’t
had many teams truly challenge
them at Oracle Arena all season,
but they finally got a real fight
from the Chicago Bulls on Tuesday night
and their first home loss since Nov. 11.
In the Warriors’ 113-111 overtime defeat,
Chicago battled back from several deficits
to take a 107-105 lead on Kirk Hinrich’s
3-point jumper with 15 seconds left in regulation, and the Warriors were fortunate to
force overtime on Draymond Green’s rebound tip-in with 1.4 seconds left.
The extra period was a back-and-forth
battle that ultimately came down to Derrick Rose, playing like the old pre-injury
Derrick Rose, canning a midrange jumper
with seven seconds left that gave the
Bulls the victory.
The Warriors had a chance to tie on
an inbounds play with 2.9 seconds left,
but Klay Thompson, who led Golden
State with 30 points, missed a running bank shot at the buzzer, and the
19-game home winning streak was finished.
The Warriors held the advantage much
of the night but simply couldn’t put the
inspired Bulls away. They opened a 9992 lead with 5:24 left in regulation on a
Marreese Speights bucket underneath,
but Chicago battled back to within one.
They had a five-point edge, 105-100,
when Stephen Curry hit a running bank
shot. But Joakim Noah hit a shot underneath and Pau Gasol made two free
throws with 1:10 left to cut it to one, 105104, that set up Hinrich’s go-ahead shot.
Rose finished with 30 points while
Gasol and Noah had 18 apiece.
Early on, it looked like the Warriors
might win it on the strength of David
Lee’s first truly terrific game of the season. Lee has been back with the Warriors
for awhile now, but not really back.
Lee, who has had a difficult time adjusting to coming off the bench after
missing 24 games with a strained left
hamstring, looked like the All-Star forward he was just two seasons ago, hitting
10 of 17 shots and adding nine rebounds
and six assists.
Results
Toronto
Cleveland
Milwaukee
Memphis
Chicago
Washington
104
103
109
109
113
98
Indiana
91
Detroit
95
Miami
102
Dallas
90
Golden State 111 (OT)
LA Lakers
92
Lee came alive when it was much
needed, too. Center Andrew Bogut was
a very late scratch with a flu bug, and
Speights, who started in his place, struggled to find his offensive game. Moreover,
the Warriors were decidedly undersized
against Chicago’s bullish front line of
Gasol and Noah.
The Bulls, clearly a contender to make
the NBA Finals out of the Eastern Conference, were fired up to play the Warriors from the opening tip, and led by Rose,
himself looking like the All-Star of old,
headed into the fourth quarter trailing
just two points, 81-79.
The Warriors got a surprise at the outset of the game when Bogut, originally in
the starting lineup, bolted for the locker
room just before the opening tip with flulike symptoms.
Early on, it didn’t have an effect as
Golden State raced out to a 19-12 lead behind Thompson, who hit his first five shots
including three 3-pointers in the first 4:01
and looked like he might be ready to duplicate his record 37-point quarter from last
Friday night against Sacramento.
The Warriors couldn’t extend that lead
in the first period, but did break out to a
10-point advantage in the second, 49-39,
as Harrison Barnes got the hot hand with
a pair of 3-pointers and 10 points in the
quarter.
Chicago coach Tom Thibodeau called
a timeout immediately after Barnes’
second 3-pointer, and the Bulls subsequently came out and ran off in a row to
tie the game at 49-all on Nikola Mirotic’s 17-footer with 3:33 left in the half.
Thompson hit his fourth 3-pointer of
the half which gave him 20 points for the
game and the Warriors regained the lead
52-49, ultimately taking a 56-51 lead into
the intermission.
Guard Jimmy Butler, Bulls’ leading
scorer, missed the game due to illness.
BOTTOMLINE
Ducks claim sixth
straight win, blank
Canucks 4-0
Anaheim Ducks goaltender Frederik Andersen (right) defends
against Vancouver Canucks forward Zack Kassian (left).
MCT
Vancouver
No limits at Super Bowl media day W
Reuters
Phoenix
I
f the Super Bowl is one of
the greatest one-day sporting events then Media Day
is the ultimate football freak
show, a zany mix of journalism,
superheroes and players in an
anything-goes media mosh pit.
The Seattle Seahawks and
New England Patriots, who will
meet in Sunday’s NFL championship, faced the media mob
on Tuesday as thousands of reporters circled the floor during a
question-and-answer free-forall watched by thousands of fans
in attendance.
Very little is off limits at the
annual Super Bowl Media Day.
Without a hint of shame, “Entertainment Tonight” reporters
can ask Patriots tight end Rob
Gronkowski to sing a Katy Perry song or New England coach
Bill Belichick can get quizzed
on what his favourite Joe Pesci
movie is - and actually get an
answer.
Seattle Seahawks running back Marshawn Lynch arrives for media
day for Super Bowl XLIX at US Airways Center.
Strangely, it’s also a day where
retired figure skaters Tara Lipinski and Johnny Weir, now fashion critics and red carpet interviewers, can work the room and
not look out of place.
And if the scene is not surreal enough, it is a place where
award-winning
journalists
struggle to have their questions
heard above those from another
accredited member of the media
wearing a barrel and cowboy hat
or a guy in a superhero costume.
There are players interviewing players, and television correspondents conducting intense
interviews with mascots. Kids
with microphones jockey for position with glamorous Mexican
television presenters in towering
high heels.
While Media Day has developed an irreverent tone and funfilled vibe it is also very serious
business for the National Football League.
The event has grown from a
one-off chance for reporters to
fill their notebooks into a fixture
of Super Bowl week, the league
selling tickets to the chaotic
spectacle for $28.50.
Some players, such as Patriots quarterback Tom Brady,
who was taking part in his sixth
Media Day, embrace the experience by smiling throughout the
one-hour session and answering
every question - no matter how
strange.
For others, like media-shy
Seattle running back Marshawn
Lynch, it is the worst kind of
torture. A man of few words,
Lynch had just seven words for
the hundreds of media gathered
around his podium.
“I’m here so I won’t get fined,”
Lynch said in response to every
question he faced.
Lynch spent five minutes repeating that phrase to 30 different questions before shouting
“time” and walking away from
the microphone, leaving others
to explain the enigmatic running
back.
“He is probably one of the
best teammates I have ever been
around,” said Seahawks wide
receiver Doug Baldwin. “He is a
comedian.
“Obviously he doesn’t like
talking to the media because
that is just not him.
“We all know him in the locker
room as the true teddy bear that
he is and we love him for it because like I said he is one of the
best teammates we have been
around.”
hether the Anaheim
Ducks wanted to admit to every example
of standing up for
each other was beside the point.
They did so, especially for
goalie Frederik Andersen, and
shut out the Vancouver Canucks,
4-0, in a Pacific Division road
test that bodes well for their
playoff aspirations.
Not only did the Ducks (32-106) claim their sixth consecutive
victory by limiting Vancouver
to three shots on goal during a
31-minute-plus span into the third
period, they effectively countered
each attempt by the home team to
assert some authority.
“We answered properly,” Ducks
center Ryan Getzlaf said. “There
were some good hard hits out
there that didn’t deserve fights,
and I thought our guys did a good
job of not overreacting to things.”
Although it appeared he was
hit by Vancouver forward Derek
Dorsett in the first period, Getzlaf said it wasn’t contact that
sent him to the dressing room
after four minutes of ice time in
the first period.
“I got a headache, I jarred
something in my neck that triggered something and I couldn’t
get it to go away,” Getzlaf said.
“Saw the chiropractor and got it
to go away.”
Early in the second period,
Ducks center Ryan Kesler found
Dorsett and launched a right elbow to his face that dropped the
forward to the ice and forced him
out of action for the evening.
“All I know is I was going for
the puck and felt him hit me,
hope he’s all right,” Kesler said.
“It’s unfortunate. It’s a fast game
out there. Didn’t even see him.
Wasn’t malicious at all. Just trying to get the puck out of the
zone.”
The Canucks (26-17-3) were
already irked that Ducks right
wing Corey Perry hooked Daniel
Sedin, and they sought to get at
him as soon as Perry left the penalty box. Instead, Ducks forward
Patrick Maroon ran interference,
and was shoved from behind.
The perpetrator, Vancouver
forward Zack Kassian, was sent
to the box for roughing.
Just before that penalty ended, Canuck Jannik Hansen hit
Andersen from behind, a goalie
interference penalty that wasn’t
called until Ducks forward Kyle
Palmieri whizzed a shot past
Vancouver goalie Ryan Miller for
a 2-0 lead 7:19 into the second.
“Instant karma,” said Andersen, who made 17 saves to
post his second shutout in four
starts (and third of his career)
and win his 27th game.
Gulf Times
Thursday, January 29, 2015
9
SPORT
HORSE RACING
FORMULA ONE
River Goddess
gallops to victory in
Umm Al Houl Cup
‘This was not an easy race to win as all the horses had a chance here’
By Chris Hoover
Doha
J
assim al-Ghazali trained River
Goddess put up a forceful gallop to
win the Umm Al Houl Cup, a Thoroughbred Handicap for horses rated 50 to 70, which was the highlight of the
28th day’s races at the Qatar Racing and
Equestrian Club yesterday.
The Harry Bentley ridden River Goddess came with telling strides in the final
furlong and overhauled Succeed An Excel
to win by half a length. The Ghazali trainee
was up with the pace throughout and then
capped it with a power-packed finish to
land the QR 100,000 event.
“I am very happy for the owners as
they very much deserve this Cup victory.
This was not an easy race to win as all the
horses had a chance here. River Goddess
was given a great ride by Bentley and I am
delighted with the performance,” trainer
Ghazali told the Gulf Times.
Jockey Bentley was pleased with the
performance of River Goddess as well. “I
was a little bit concerned about the wide
draw but River Goddess jumped well and
gave me a good position. She responded
well to the urgings and won well.”
Julian Smart saddled Refaal (Majd Al
Arab-Dixie Darlene), which had finished
fourth to Ain Jalout in her previous start,
came up with a dazzling display while
annexing the Local Bred Pure Arabian
Maiden Plate to shed her maiden status.
The Majd Al Arab progeny was quickly
off the blocks and set her own pace before
skipping away from her 12 rivals to win
by a widening margin of three lengths.
Naamah chased the winner all the way to
finish second ahead of Batel, who was a
further six lengths behind in third. Jockey
Richard Mullen was astride the winner,
who clocked a timing of one minute 19.22
seconds for the six furlong trip.
Jockey Mullen later rode a confident
race while steering Smart schooled Meghwaar (Kerbella-Djamour Des Forges) to
a dominationg win in the Pure Arabian
Handicap for horses rated 50 to 80. Coming from way off the pace, Meghwaar
pounced on the front runners and went
sailing clear to win as he pleased. Ashkal
was second ahead of Guide Al Khal.
The colours of HH Sheikh Mohamed bin
Khalifa al-Thani were prominent during
the day as Wonder Of Qatar (Exceed And
Excel-Imperial Quest) gave its owner his
third win. The Jassim al-Ghazali trained
three year old bay colt with Harry Bentley
in the saddle, demolished his opponents
to win the Thoroughbred Handicap for
three year olds in taking style. Wonder
Of Qatar lloks to be a good type of youngster who is capable of climbing the ranks
pretty soon.
Osama Omar al-Dhafa’s Man Amongst
Men (Cedric Segeon up) broke through the
maiden ranks in his 10th career start with
a comfortable victory in the Thoroughbred Maiden Plate. Man Amongst Men
raced a handy second before taking control of the proceedings at the home turn.
Once into top gear, the Osama trainee
went on to win by five length from Stealing Thunder. Soebroto was third ahead of
Rum, who tried runaway tactics bit failed
to sustain.
Majid Safedeen saddled Goldenrod (Alberto Sanna astride) put in a gallant display
while taking his secind career win with
a thrilling victory in the Thoroughbfed
Graduation Plate. Goldenrod was taken to
the front and as the field straightened out
for the home stretch. Ithe Safedeen trainee stretched away nicely and later warded
off the late challenge from Mudhish to win
by a neck. Mohamed Hussain schooled
Defendant clinched a stylish victory in the
Thoroughbred Handicap for horses rated
60 to 80. Settling in mid bunch in a pack
13, Defendant forged ahead soon on turning for home. Once jockey Tadgh O’Shea
showed the daylight to the Hussain trainee, Defendant unleashed a terrific gallop
to draw away and win by a widening margin of three lengths. Go For Broke came
with a late run, to finish second.
Al Jasra Stud’s Mekhbatt held on gamely to win the Local Bred Pure Arabia Advanced Plate. Though Maazouz put in a
spirited challenge along the rails, Italian
saddle artist Pier Convertino was upto the
challenge as he rode out Mekhbatt with
vigour to win by a neck.
Peter Anders from the stables of Zohair
Moghsen was a comfortable winner of the
Thoroughbred Conditions race, run over
1,80 metres. After racing upfront, jockey
Marvin Suerland took the initiative as the
field entered the homestretch and took
Peter Anders to the front. The Moghsen
Vettel wanted to
quit, says Horner
Reuters
London
F
our times Formula
One world champion
Sebastian
Vettel
considered quitting as
he struggled with the sport’s
new direction last year, according to the German’s
former Red Bull boss Christian
Horner.
“Seb didn’t enjoy the regulation changes,” Horner told
British reporters ahead of this
weekend’s first pre-season test
in Jerez, Spain.
“He didn’t enjoy the new
engine, the feel from the new
system, the power unit, the
brake by wire, the lack of
downforce. You could tell he
wasn’t happy.
“He was preoccupied and to
compound that his teammate
(Australian Daniel Ricciardo)
won three races. There was
that feeling ‘Am I enjoying this
as much as I thought I was?’”
While Ricciardo won three
races, Vettel, who had been
champion for four years in a
row and won 13 grands prix in
2013 including nine consecutively, ended the campaign
empty handed.
The German has since left
Red Bull and joined Ferrari,
who also failed to win a race
last year for the first time since
1993.
“It was like someone had
taken his toy away. It took him
a while to get to grips with that.
It was not something he was
used to. He went through a period of disillusionment about
the direction Formula One was
going in,” added Horner.
“There was a stage last year
when he thought whether he
wanted to stop or not, whether he was getting the same
level of enjoyment or not and
whether or not he wanted to
continue.”
Horner, whose team finished runners-up to Mercedes
in 2014, said Vettel had been
so successful in previous years
that he struggled to come to
terms with a car that was not
to his liking.
“It raised some questions
he had to deal with. He went
back to basics and drove a kart
in the middle of the year to get
back to the bare essence of why
he was a grand prix driver and
rediscovered his passion for
being a grand prix driver,” he
said.
Horner said it would take
time to get used to seeing Vettel in Ferrari’s red overalls but
felt the German was right to
seek a change and a new stimulus.
“His boyhood hero was
Michael (Schumacher) and,
of course, there was the lure
of Ferrari. For any driver—the
brand, the history, the mystique, is immensely powerful.”
Jockey Harry Bentley rides River Goddess to victory in the Umm
Al Houl Cup at the QREC yesterday.
SPOTLIGHT
RESULTS
1st race: Refaal (Richard Mullen) 1, Naamah 2, Batel 3, Dheram
Al Naif 4. Won by: 3, 6, 3. Time: 1:19.22. Trained by: Julian Smart.
Owned by: HH Sheikh Mohammed bin Khalifa al-Thani
2nd race: Man Amongst Men (Cedric Segeon) 1, Stealing Thunder 2, Soebroto 3, Rum 4. Won by: 5, 1 ¾, 3. Time: 1:56.29. Owned
and trained by: Osama Omar al-Dhafa
3rd race: Meghwaar (Richard Mullen) 1, Ashkal 2, Guide Al Khal 3,
Qadeer 4. Won by: Distance, 5, 3 ½. Time: 2:06.29. Trained by: Julian Smart. Owned by: HH Sheilh Mohammed bin Khalifa al-Thani
4th race: Goldenrod (Alberta Sanna) 1, Mudhish 2, Seamless 3,
Persidha 4. Won by: Nk, 1 ½, 10. Time: 1:54.84. Trained by: Majid
Safedeen. Owned by: Mubarak Saeed Aljafai al-Naimi
5th race: Defendant (Tadgh O’Shea) 1, Go For Broke 2, Christmas
Aria 3, Big Gees 4. Won by: 3, 2 ½, 1. Time: 2:02.95. Trained by:
Mohammed Hussain. Owned by: Ali bin Adel al-Musalmani
6th race: Mekhbatt (Pier Convertino) 1, Maazouz 2, Hassiba 3,
Hab Reeh 4. Won by: Nk, 2 ½, ½. Time: 1:19.66. Trained by: Badr
al-Abid. Owned by: Al Jasra Stud
7th race: Peter Anders (Marvin Suerland) 1, Pearl Bridge 2, Star
Deal 3, Hunting Tartan 4. Won by: 5, 3, Hd. Time: 1:53.47. Trained by:
Zohair Moghsen. Owned by: Al Murqab Stud
8th race: Wonder Of Qatar (Harry Bentley) 1, White Vin Jan 2,
Red Connect 3, Cajoling 4. Won by: 6, Hd, 2. Time: 1:12.30. Trained
by: Jassim al-Ghazali. Owned by: HH Sheikh Mohammed bin
Khalifa al-Thani
9th race: Rebelde (Marco Monteriso) 1, Half Turn 2, Rome 3,
Afortunado 4. Won by: 1 ½, 2 ½, 2. Time: 1:11.66. Trained by: S. Ibido.
Owned by: Abdulhadi Mana al-Hajri
10th race: River Goddess (Harry Bentley) 1, Succeed And Excel
2, Sunley Pride 3, Champagne Babe 4. Won by: ½, 2, 2 ½. Time:
1:11.96. Trained by: Jassim al-Ghazali. Owned by: Abdullah Mohammed Al Kuwari Sons
QREC chairman HE Sheikh Mohamed bin Faleh al-Thani (centre) and QREC general manager Sami Jassim al-Boenain (second from right)
are seen with the winners of the Umm Al Houl Cup at the Qatar Racing and Equestrian Club yesterday. At bottom, QREC chairman Sheikh
Mohamed bin Faleh al-Thani (right) presents Umm Al Houl Cup to trainer Jassim al-Ghazali. PICTURES: Juhaim
trainee was in no danger of being caught,
as he showed a clean pair of heels and
went away to win by five lengths from sta-
ble mate Pearl Bridge, who was in futile
chase of the winner. In the day’s other action, Abdulhadi Mana al-Hajri owned Re-
belde (Marco Monteriso up) clinched the
Thoroughbred Handicap for horses rated
50 to 70.
Force India to miss
Jerez F1 test
Reuters
London
F
orce India will not take
part in Formula One’s
opening
pre-season
test in Jerez starting
this weekend, the team said
yesterday.
A spokesman dismissed
speculation that the Silverstone-based team, run and coowned by Indian tycoon Vijay
Mallya, had made the decision
for financial reasons and said
they would be present at the
following test in Barcelona.
The team had planned to run
their 2014 car in Jerez, having
already said the new VJM08
would not be ready, but the
spokesman said they had since
decided the learning opportunities were limited.
He added that the decision
was made last week.
Jerez has a particularly abrasive surface and does not feature in the championship while
Barcelona hosts the Spanish
Grand Prix in May and is regarded as a good benchmark
for testing.
Barcelona hosts two tests,
with the first scheduled for Feb
19-22.
Mercedes-powered
Force
India, who unveiled a new look
at a team presentation in Mexico City last Wednesday, have
Mexican driver Sergio Perez
and Germany’s Nico Hulkenberg in an unchanged lineup.
The team finished sixth last
year but spent much of last
season calling for cost cuts and
a more level playing field for
the smaller outfits.
Formula One started 2015
with two teams—Marussia
and Caterham—in their death
throes and the prospect of only
nine on the starting grid when
the season starts in Melbourne
on March 15.
Flamboyant liquor baron
Mallya, once known as “The
King of Good Times” has hit
harder times after the failure of
his Kingfisher Airlines.
Bubka seeks IAAF presidency
Berlin : Ukrainian pole vault
legend Sergey Bubka will
seek the presidency of the
ruling athletics body IAAF in
August, with Briton Sebastian Coe the other candidate.
Bubka, 51, said in a statement
yesterday on his website “I
am seeking the IAAF Presidency to give something
back to the world of athletics
which has given so many opportunities to me throughout
my life.”
Bubka won six world titles
and Olympic gold in the
discipline and still holds the
outdoor world record with
6.14 metres from 1994, and
like Coe is an IAAF vice-president since 2007.
Coe, 58 announced his candidacy last year. He is a former
800m world record holder,
two-times 1,500m Olympic
champion and was chief
organiser of the London 2012
Olympics.
The president is elected at
the IAAF Congress in Beijing
in August ahead of the
world championships in the
Chinese capital. The current
president, Senegal’s Lamine
Diack, 81, is stepping down.
Bubka is also president of
Ukraine’s Olympic Committee and a member of the
International Olympic Committee, where his bid for the
presidency in 2013 failed.
He has been a member of
the IAAF’s decision-making
council since 2001.
Bubka said yesterday he
wants to “ensure that the
sport of athletics and its governing body are world-class
and an example to others
with regard to governance,
transparency and ethics.
“We also need to provide
greater grassroots support
to inspire the next generation of athletes; we need to
better engage with young
people and build new
audiences; and we need to
ensure protection of clean
sport.”
Coe announced his candidacy in late November, saying
“I want us to have a renewed
focus on engagement with
young people and a real
understanding of the global
landscape that is shaping the
next generation of athletes.”
10
Gulf Times
Thursday, January 29, 2015
FOOTBALL
Chelsea pair doubtful for
Man City showdown
West Brom secure
McManaman’s signature
Ronaldo gets two-match
ban for kicking opponent
AC Milan CEO left red-faced
over prank radio call
Chile’s Nicholls says won’t
run for FIFA presidency
Premier League leaders Chelsea could be without
midfielder Cesc Fabregas and defender Filipe
Luis for Saturday’s top-of-the-table clash against
Manchester City at Stamford Bridge. Both came
off during Chelsea’s 1-0 victory in the Capital One
(League) Cup semi-final second leg against Liverpool on Tuesday, while Branislav Ivanovic, who
headed the winner in extra-time, is also a doubt
with a cut foot. “Branislav could finish the game,
Fabregas and Filipe couldn’t,” Chelsea manager
Jose Mourinho explained. “Filipe has a calf problem, Fabregas has a hamstring.”
West Bromwich Albion have signed versatile
midfielder Callum McManaman from Wigan Athletic
on a 3-1/2 year contract for an undisclosed fee.
The 23-year-old FA Cup winner is Tony Pulis’s first
signing since he took charge at The Hawthorns
earlier this month. “I’m delighted we’ve got Callum
and I believe he will be an exciting addition to our
numbers,” Pulis said on the club’s website (www.
wba.co.uk). “Callum is a player who can improve our
options and I am really looking forward to working
with him.” McManaman came through the ranks at
Wigan and helped the club lift the FA Cup in 2013.
Real Madrid’s Cristiano Ronaldo has been given
a two-match ban following his dismissal for
kicking out at an opponent during their La Liga
clash with Cordoba last Saturday. Ronaldo was
unable to make an impact in the match and his
frustration saw him first lash out with his hand at
Jose Crespo, which the referee missed, and then
minutes later kick out at Edimar for which he was
sent off. The Portugal winger has been suspended
for Real’s next two La Liga matches against Real
Sociedad and Sevilla but will be available for the
derby with Atletico Madrid.
AC Milan CEO Adriano Galliani has been left redfaced after being tricked into revealing the club will
not sack embattled coach Filippo Inzaghi during a
prank telephone call on Italian radio. The prankster
quizzed Galliani if Inzaghi would be sacked. “No,
unless there is a massive catastrophe we’ll stick
with him until the end of the season, then we’ll
see,” said Galliani. He was also asked which strikers
the club had targeted to shore up their ineffective
attack. “I’m looking for a centre-forward on loan
and I will sign (Pablo) Osvaldo or (Mattia) Destro,”
said Galliani.
Prospective FIFA presidential candidate Harold
Mayne-Nicholls said yesterday that he has decided
not to run against incumbent Sepp Blatter. Chile’s
Mayne-Nicholls, the former head of FIFA’s technical
committee which warned against holding the
2022 World Cup in Qatar, had said in October he
might run. “In the end I’ve decided not to move
forward with my candidacy for the 2015-2019,”
the Chilean said at a televised press conference.
His announcement comes on the heels of former
Portugal international Luis Figo’s revelation that he
would make a run for the FIFA top post.
ASIAN CUP
Australia confident
of avenging group
stage loss to Korea
‘This is the business end and this is when you want to be winning games. We’re full of confidence
and I’m sure whatever the game plan is we have to make sure we complete it as best as we can’
Barca prez
slams FIFA
rules over
transfer ban
Barcelona president Josep
Maria Bartomeu believes FIFA
regulations concerning underage player transfers needs to be
revised and that current rules
would have prevented Lionel
Messi from joining the club.
The Catalan side have been
banned from signing players
during this transfer window and
the next one for breaking the
rules over the signing of foreign
under-18 players.
Now Real Madrid are also being investigated by FIFA over the
transfer of 51 players and there
are rumours that the activities
of other La Liga clubs could be
examined.
The ban is a major blow for
Barca, who have been held up
as an example for their development of youth players through
their celebrated Masia academy,
where they nurtured the talent
of Argentine-born Messi after he
arrived at the club aged 13.
Bartomeu is angry at the
way they have been treated.
“The problem is with FIFA and
they need to change this article
19 (over the transfer of youth
players) as it doesn’t make any
sense,” the president told Spanish
radio. “Leo Messi couldn’t have
come to Barca according to FIFA.
FIFA have a problem and they
can’t have a rule which so many
kids are not complying with. At
the moment, it is Barca who are
paying for five kids. Barca have
suffered injustices in the past and
this is another example.
“Clearly there are going to be
other clubs involved, (Spanish federation president Angel
Maria) Villar already told us that
other Spanish teams were being
investigated. I don’t want other
clubs to be investigated. I want
FIFA to change the rules and
(FIFA President Sepp) Blatter to
consider this.”
A failed appeal against the
transfer ban last December
plunged the Barca board into
crisis, playing a part in the firing
of sports director Andoni Zubizarreta and Bartomeu’s decision
to bring forward presidential
elections.
“If there wasn’t so much tension, then I wouldn’t have called
the elections,” Bartomeu said of
the vote taking place at the end
of this season. “I wanted to complete our mandate and the club is
functioning reasonably well but I
think it was the right thing to do.”
English clubs dominate
transfer deals, says FIFA
Australia’s favourite footballing son Tim Cahill will have to be at his best in the frontline as the Socceroos take on South Korea to decide the 2015 Asian champions, in the final in Sydney on Saturday.
DPA
Sydney
A
ustralia are confident of
avenging their group stage
loss to South Korea when the
teams meet again in the Asian
Cup final on Saturday.
The South Koreans have kept five
clean sheets out of five so far in the
tournament and one of those came in
the 1-0 victory over the hosts in Brisbane to conclude Group A.
But the Socceroos maintain they
were the better side in that contest despite losing and that they will have the
last laugh in the rematch at Stadium
Australia in Sydney.
“We had a few chances against them
in the first game but unfortunately we
just didn’t put those chances away,”
defender Jason Davidson told the media Wednesday.
“We’ll definitely create those chances
again and it’s up to us and it’s our job to
make sure we’re clinical and we put them
away. This is the business end and this
is when you want to be winning games.
We’re full of confidence and I’m sure
whatever the game plan is we have to
WE ARE TOUGH ENOUGH FOR AUSSIES, SAYS KOREA CAPTAIN
South Korea could thrive in the role
of underdogs when they face hosts
Australia in the Asian Cup final this
weekend, says skipper Ki Sung-Yueng.
Having reached the final for the first
time in 27 years battered, bruised and
held together by team spirit and sheer
bloody-mindedness, the Swansea City
midfielder told Korean reporters on
Wednesday that the Red Devils had the
steel to go all the way.
“I believe it will come down to mental strength,” said Ki, who has been a
calming influence on South Korea after
losing the influential pairing of Lee
Chung-Yong and Koo Ja-Cheol to injury
in the group stages.
“That will be more important than
physical strength,” he added, noting that
the Australians would hold the advantage in terms of power. “This is a great
opportunity for South Korean football.”
South Korea’s rich pedigree speaks
for itself, the team famously reaching
the World Cup semi-finals in 2002. But
they have curiously failed to lift the
Asian Cup since 1960.
“We understand the magnitude of
the game without anyone telling us,”
insisted Ki when reminded of the fact
before Saturday’s showdown in Sydney.
But coach Uli Stielike has moulded
a resilient side in his own image, the
former West Germany international renowned in his playing days as a steely
defensive midfielder who went on to
become a fan favourite for Real Madrid
after joining them in 1977.
The Taeguk Warriors have reached
the final without conceding a goal,
beating Australia 1-0 along the way to
secure top spot in Group A.
Forward Lee Jeong-Hyeop has become a smash hit with fans after scor-
make sure we complete it as best as we
can.”
Davidson has made the left-back
slot his own in the tournament after
not playing in the first game and it is
unlikely he will be dropped for the final.
He even managed his first international goal in Tuesday’s 2-0 semi-final
ing the winner against the Socceroos
and another in Monday’s 2-0 win over
Iraq in the semi-finals.
A shock selection by Stielike before
the tournament, Lee confessed he had
no idea if he will even start in the final—
and insisted it didn’t matter either way.
“I don’t know if I’ll play,” he said
before training. “It’s not about personal
milestones at all. All that matters is winning the title. People are talking about
me because I’ve scored a couple of
goals but my job is to score goals.”
Lee, who is currently completing his
mandatory military service with the
K-League’s army side Sangmu Phoenix,
warned that Australia would be fired up
as they chase a first Asian title in front
of their home fans. “They will be more
prepared this time,” he said. “That
means we will have to analyse them
more closely too and be ready.”
victory over the United Arab Emirates
in Newcastle.
Fellow defender Trent Sainsbury also
claimed his maiden goal for the Socceroos
in that contest and he too backed his side
before the meeting with South Korea.
“We’re more confident in each other’s ability,” he said. “At the start it may
have been a few people hesitant to play
certain balls but now everyone knows
what each other is capable of.
“It’s all about confidence for this
team now. A clean sheet last night is the
perfect breeding ground for us to go on
and do better things.”
Though Sainsbury has been a rock
in the centre of the Australian defence,
which has only conceded twice in the
competition, he may have to be used as
an emergency right-back should Ivan
Franjic fail to shake off a hip injury.
Franjic, who was struggling to run
towards the conclusion of the UAE
game, maintains he will recover in time
for the final.
But if not, Sainsbury is ready and
willing to deputize. “I’ve played there
a few times for the (Central Coast)
Mariners and once in pre-season for
my (Dutch) club Zwolle,” he said. “It
doesn’t bother me, I’ll just have to adjust and do what the coaches tell me.
You can put me in goal if you want to
I’m not fussed. I’ll go out there and do
the job I’m told.”
English clubs are spending
more money in the international
transfer market than any other
country in the world, according to a FIFA report published
yesterday.
The findings of the 2015 FIFA/
TMS Global Transfer Market
Systems Report, covering the last
12 months, shows English clubs
spent more than $770 million on
foreign players—about $308 million (67 percent) more than their
nearest rivals Spain.
In total, clubs around the
world spent $4.06 billion signing
players from outside their own
borders. The report does not
include domestic transfers.
Brazil is the most active
country in terms of international
transfers with 1,335 deals—incoming and outgoing—followed by
England with 1,263 and Portugal
with 823.
One area highlighted in the
report for the first time concerns
the transfers of young players
under the age of 18.
Spanish clubs sign more
overseas youngsters under 18 -- a
fact highlighted last week when
Real Madrid unveiled 16-year-old
Norwegian “wonderkid” Martin
Odegaard who they bought from
Stromsgodset earlier this month.
The report states: “In 2014,
Spain was the country that
engaged the highest number of
minors. 400 minor applications
were submitted, and 352 were
accepted. This is a much higher
number than any other association worldwide.”
Gulf Times
Thursday, January 29, 2015
11
FOOTBALL
FIFA ELECTION
Figo enters prez race, Champagne to fight till last
DPA
Berlin
F
ormer Portugal great Luis Figo yesterday became the latest man intending to
run against Joseph Blatter for the presidency of football’s ruling body FIFA.
“I’m delighted to announce my candidacy for
the FIFA presidency. Football has given me so
much during my life & I want to give something
back,” Figo said on Twitter.
The 42-year-old said in an interview with
broadcasters CNN that he has the necessary
backing of five national federations to become a
candidate for the election set for May 29 at the
FIFA Congress in Zurich.
Others aiming to run for the top job against
Blatter, who is seeking a fifth term, are Dutchman Michael van Praag, Jordan’s Prince Ali Bin
al-Hussein and former French international
David Ginola.
Champagne said he fears “a war of FIFA
against UEFA” in the campaign as Europe’s rul-
ing body opposes another term from Blatter and
is believed to be behind the announcements of
Figo and van Praag.
The deadline to announce is candidature is
tomorrow midnight. Presidential candidates
will be officially announced by FIFA at a later
stage after they have undergone a review by the
ethics committee and an electoral committee.
Figo, 42—the 2001 World Player of the Year
who won 127 caps for Portugal and played for
the likes of Real Madrid and Barcelona—said he
wants to change the image of FIFA tainted over
various corruption allegations.
“I care about football, so what I’m seeing regarding the image of FIFA—not only now but
in the past years—I don’t like it,” he told CNN.
“Change in leadership, governance, transparency
and solidarity, so I think it’s the moment for that.”
Van Praag, 66, meanwhile told a news conference yesterday that he plans to be in office for one
four-year term only, and that he offered Blatter
a role as advisor, if elected, at a meeting earlier
this month, which the president declined. “I said
Sepp, you will make yourself immortal if you take
the plunge and step aside,” Van Praag said. “This
is not about you or me, but about football.”
Van Praag said he wants to make FIFA more
modern and democratic. He said FIFA has lost
all credibility but insisted that the federation
has also done good things.
The Dutchman called on Blatter to step down
in summer during a stormy meeting ahead of the
FIFA congress in Sao Paulo last summer as UEFA
wants changes atop FIFA in the wake of corruption allegations in various areas including the bid
process for the 2018 and 2022 World Cups.
A FIFA probe cleared hosts Russia and Qatar to host the events while chief investigator
Michael Garcia resigned after FIFA initially
didn’t want to publish his report on the 2018
and 2022 probe.
The 78-year-old Swiss Blatter appears to
be safe in the upcoming election as he has
seemingly secured more than half of the votes
through support from the confederations of Africa, Asia and Oceania.
Van Praag said that personally he has nothing
against Blatter but Champagne, who despite
AFRICA CUP OF NATIONS
aiming to stand against Blatter has always defended him, fears a dirty campaign.
“It is more and more obvious that we will see
a campaign FIFA against UEFA. It is clear that
the latest announcements have been organised
and prepared with UEFA support. That makes
me concerned,” he said.
“Everyone focuses on Blatter, Blatter, Blatter... Unfortunately the campaign will not be
about football but against Blatter. The real
problems of football fall by the wayside.”
Champagne says his difficulties in obtaining
the support of five FIFA members also has political reasons.
“They are scared. Some federations are bidding for FIFA competitions or want to get into
the executive committees of UEFA or FIFA. The
fear their position will weaken because of the
support for a candidate,” Champagne said.
Champagne also said he will fight until the
end to secure the support of five FIFA members.
“I am close to the five supporters but not
quite close enough. I will fight until the end,”
the former FIFA executive Champagne said.
SPOTLIGHT
Ghana, Algeria
make quarters
Ghana come from behind to beat South Africa 2-1, Algeria blank Senegal 2-0
Ghana midfielder Andre
Ayew takes an attempt
at the South African goal
during their Africa Cup of
Nations Group C clash in
Mongomo on Tuesday. (AFP)
Grant happy to
help Ghana escape
‘Group of Death’
Reuters
Mongomo, Equatorial Guinea
A
vram Grant admits
he has jumped into
the deep end taking
over Ghana just before the African Nations Cup
finals but after almost a month
with his new players reckons
he is getting on swimmingly.
The former Chelsea manager saw his team through to
the quarter-finals in Equatorial Guinea on Tuesday after a
storming come-from-behind
win against South Africa in
their final group match in
Mongomo where a double
substitution midway through
the second half was followed
by two goals in 10 minutes.
“Having to learn every day
about my team has not been easy
but I think I now know enough
about all of them,” he said after
the 2-1 victory ensured top place
in Group C and a quarter-final in
Malabo on Sunday.
“The Nations Cup is nothing
new to me. I’ve been watching
it all my life. Obviously being
here is a little different to what
I’ve done before but I did a lot
of research and preparation.
“We had a good training
camp and I’ve had a chance to
also see how the players react
after losing and after wining.
You saw how we bounced back
after we lost our first match.”
Grant was under immediate
pressure from a skeptical media
and public after Ghana let a lead
slip and lost to a last-gasp goal
against Senegal in their opening group game but beat Algeria
and South Africa to advance.
Ghana, who have a rich history in the tournament, turned
to Grant just one month before
the finals having taken three
months to replace Kwesi Appiah, who was dismissed not long
after last year’s World Cup.
The Israeli had a month to
do his homework before pretournament training started on
New Year’s Day in Accra, followed by a brief training camp
in Spain with some scrimmages
against European club side.
He has tinkered with the
team in each of his three games
in charge but got it spot on
Tuesday as Ghana totally
dominated the second half
against South Africa to reach
the last eight for a fifth successive tournament.
“The game was in our hands.
I’m very happy for the players, they showed once again as
they did in the previous game
their spirit and the determination. We came through the
Group of Death,” Grant added.
FOCUS
Qatar World Cup
should be played in
winter, says Valcke
AFP
Mongomo (Equatorial Guinea)
A
late diving header by Andre
Ayew took Ghana through to the
quarter-finals of the Africa Cup
of Nations on Tuesday alongside
favourites Algeria in a dramatic denouement to Group C.
Ghana came from behind to beat South
Africa 2-1 in Mongomo to secure their
berth in the quarter-finals as winners of
the group, having looked set to finish bottom with barely 20 minutes to play.
Meanwhile, the Algerians beat Senegal
2-0 in Malabo thanks to a goal in each half
from Premier League stars Riyad Mahrez
and Nabil Bentaleb to go through in second place at the expense of the Lions of
Teranga.
The Black Stars of Ghana, who have
reached at least the semi-finals of each
of the last four tournaments, were heading out when Mandla Masango smashed
home on 17 minutes in Mongomo to give
South Africa the lead.
However, their hopes were revived
when defender John Boye equalised on
73 minutes, and with the momentum behind them, Avram Grant’s side went on to
get the win they required when Marseille
winger Andre Ayew headed home with
seven minutes to go from a cross by Abdul
Rahman Baba.
“We deserve it because South Africa
were not better than us. We have finished
first in the group of death, which is not
bad,” said Ghana’s Israeli coach Grant.
Algeria also had to win against Senegal
to be sure of going through and Christian
Gourcuff ’s team were on their way when
Leicester City winger Mahrez slotted
home on 11 minutes.
At 1-0, both sides were going through
until events of the final 10 minutes in
Equatorial Guinea. First, Sofiane Feghouli
set up Bentaleb to lash home and put Algeria 2-0 up, and then Ghana’s winning
goal in the other game condemned Senegal to an early exit.
“It was an excessively difficult game
physically. The ball was almost always
in the air, which is not an advantage for
us,” said Algeria coach Gourcuff, who is
now looking forward to a quarter-final tie
this weekend. “It was not easy to get out
of this group. We don’t choose our opponents. Of course we’ll follow the games
with lots of interest tomorrow and we’ll
see what happens,” he added.
While Algeria, who last won the competition in 1990, and Ghana can look
forward to the knockout stage, Senegal
and South Africa are left to wonder what
might have been.
Bafana Bafana go home with just one
point after throwing away the lead in all
three of their matches, although their
coach Ephraim ‘Shakes’ Mashaba remained upbeat at how his team performed. “We played well in qualifying
against some very strong teams, and we
played well here too,” he said.
However, Senegal coach Alain Giresse
was not able to praise his side, who came
up short despite only requiring a draw to
progress.
And as the Lions of Teranga were left
to contemplate another failed attempt to
finally get their hands on the continental
trophy, Giresse was urged to step down by
the Senegalese media. “My contract has
finished,” he reminded them. “The road
ends here for Senegal. There will be a lot
of changes in and around the team. What
happens next I don’t know, but I know
what I am going to do.”
Algeria and Ghana will find out their
last-eight opponents when Group D
concludes with Cameroon and the Ivory
Coast clashing in Malabo while Guinea
and Mali meet in Mongomo.
All four sides are currently deadlocked
with identical records, with every game
thus far in the section having finished 1-1.
Elsewhere on Tuesday, organisers announced that the quarter-finals due to be
played in Ebebiyin and Mongomo would
be moved to Bata and Malabo respectively.
The decision means that hosts Equatorial Guinea will meet Tunisia in Bata on
Saturday rather than in the tiny 5,000seat Ebebiyin stadium.
In addition, Sunday’s scheduled quarter-final between Ghana and the runnersup in Group D will now be played in Malabo rather than in Mongomo.
AFP
Paris
F
IFA general secretary
Jerome Valcke has again
indicated that the 2022
World Cup should be
played in winter to avoid the
blazing summer heat in Qatar.
“I think it has also been
confirmed by other members
of the executive committee
that the World Cup would be
played in winter,” he said in an
interview with France-Info radio yesterday.
“Which part of the winter?
Would it be the start of the year
2022 or the end? There is a task
force which will meet in Doha
in a few weeks to discuss this
and then in March the FIFA
executive committee should
take a final decision on which
period and the exact dates.”
He added: “The IOC (International Olympic Committee)
is concerned over (a clash with)
the 2022 Winter Olympics and
we will take that into account.
We will listen to the leagues,
the clubs, the players, the medical commission, the whole
world of football, but it is seven
years away and we can live with
that (a winter World Cup).”
The main objection to playing the tournament in high
summer is that temperatures
in the Gulf state frequently soar
in the high 40s Celsius, making
playing conditions difficult and
raising health concerns.
In November, Valcke set up a
working group to examine the
question and spoke of two options, January to February and
November to December, but said
he had also asked FIFA to examine the possibility of the tournament going ahead in May 2022.
Last month, the European
Clubs Association and European Professional Football
Leagues indicated a strong preference for playing the World
Cup from May to June 2022.
Thursday, January 29, 2015
FOOTBALL
GULF TIMES
LEAGUE CUP
Ivanovic header sinks
Reds, puts Blues in final
Chelsea’s Serbian defender powers header past Liverpool goalkeeper Simon Mignolet four minutes into extra
time to secure a 2-1 aggregate win and put the four-time winners in their first League Cup final since 2008
AFP
London
Chelsea’s
Branislav
Ivanovic
rises high to
head the ball
in and score
the winning
goal against
Liverpool.
(AFP)
B
ranislav Ivanovic’s extratime header sent Chelsea
into the League Cup final at
Liverpool’s expense as the
London club edged a breathless semifinal second leg 1-0 on Tuesday.
The Serbian’s goal gave Jose Mourinho’s side a 2-1 aggregate win, taking
them into a March 1 final against either Tottenham Hotspur or Sheffield
United and cutting off one of Liverpool captain Steven Gerrard’s paths
to a golden send-off before his departure for the Los Angeles Galaxy.
The 34-year-old now has only
the FA Cup and Europa League to aim
for, while Chelsea remain on course
for three trophies after bouncing
back from their humiliating 4-2
loss to third-tier Bradford City in the
FA Cup.
“This is a new Liverpool team and
a very difficult opponent, so I’m even
happier because we beat a very good
team over two legs,” Mourinho said.
The gruelling encounter at an
electrified Stamford Bridge will have
taken its toll on Mourinho’s squad,
however, ahead of Saturday’s crucial
home game against title rivals Manchester City in the Premier League,
with Cesc Fabregas notably forced off
by injury.
Chelsea striker Diego Costa is also
at risk of respective punishment after
twice appearing to stamp on Liverpool
players—Emre Can in the first half and
Martin Skrtel, with whom he fought a
running battle, in the second.
Asked about the threat of a ban,
Mourinho replied: “Let Costa play his
football.”
Liverpool manager Brendan Rodgers told Sky Sports: “I thought they
were outstanding. Over the course of
two legs, we were the better team.
“We had good opportunities to
score, but didn’t score. I feel nothing
but pride, really, because the players
gave everything.”
Last week’s first leg had also been a
spiky affair and a number of contentious incidents made referee Michael
Oliver the centre of attention during a
break-neck first half in west London.
“I thought they were
outstanding. Over the
course of two legs, we
were the better team. We
had good opportunities to
score, but didn’t score. I feel
nothing but pride, really,
because the players gave
everything”
Chelsea had two penalty appeals
turned down, firstly when a shot from
Willian struck Lucas Leiva on the
hand and then when Skrtel appeared
to catch Costa with his foot as the
burly Spain striker looked to wriggle
down the byline.
The second appeal was particularly
compelling, but Liverpool felt that
Costa should have already been sent
off by then after he trod on Can’s ankle right in front of the two dug-outs.
Mourinho made nine changes to the
team humbled by Bradford, but Kurt
Zouma kept his place ahead of Gary Cahill at centre-back and the 20-year-old
Frenchman made an uncertain start.
He had to sprint back to dispossess
Raheem Sterling after misjudging a
header on halfway and when Philippe
Coutinho took him out of the game
with a body-swerve, Thibaut Courtois was obliged to block with his feet.
Courtois also jutted out a hand to
parry a shot from Alberto Moreno,
who had been released by a glorious
pass from Gerrard, but Chelsea finished the half strongly, with Oscar
twice shooting wide.
Both teams lost players to injury
early in the second period, with Fabregas hobbling off after being caught by
his own captain John Terry before Mamadou Sakho ceded his place to Glen
Johnson.
Round Two of the Costa-Skrtel
clash, meanwhile, saw the Slovakian
defender left in a heap after the Chelsea striker landed on his foot.
Chelsea began to take charge, with
Eden Hazard and Ramires shooting
wide and Liverpool goalkeeper Simon
Mignolet twice thwarting Costa.
Moments later, Mourinho reacted
furiously when Jordan Henderson,
who was on a booking, handled the
ball but avoided a second caution.
With Mario Balotelli on as a substitute, Liverpool went into extra
time knowing they had to score due
to Chelsea’s away goal, but it was
the hosts who struck, with Ivanovic
heading in Willian’s right-wing freekick in the 94th minute.
Henderson headed Liverpool’s best
chance of an equaliser wide, while
Gerrard’s night ended amid frustration as he was booked following a
tangle with the irrepressible Costa.
Mourinho fined £25,000 over ‘campaign’ claim
Chelsea manager Jose Mourinho has been fined £25,000
($38,000, 34,500 euros) over comments he made following his side’s 1-1 draw at Southampton last month, the
Football Association announced yesterday.
Mourinho claimed there was a media-driven “campaign” against his team following a spate of diving allegations and said a yellow card shown to Cesc Fabregas for
simulation during the game was a “scandal”.
“Following an Independent Regulatory Commission
hearing, Jose Mourinho has been fined £25,000 after he
was found to have breached FA Rules in relation to media
comments,” the FA said in a statement on its website.
“The Chelsea manager denied that comments he made
after the game against Southampton on 28 December
2014 constituted improper conduct in that they alleged
and/or implied bias on the part of a referee or referees,
and/or brought the game into disrepute.
“The Independent Regulatory Commission found the
comments were a breach of FA Rule E3 in that they were
improper and brought the game into disrepute. The Commission did not, however, find that the comments implied
bias on the part of a referee or referees.”
Mourinho was also warned about his future conduct,
but escaped a touchline ban. Chelsea were accused of diving following incidents involving Diego Costa, Willian, Gary
Cahill and Branislav Ivanovic during games in December.
After Fabregas was denied a penalty and booked for
diving against Southampton, Mourinho said the debate
had put referees under unfair pressure.
“Of course. That’s a campaign, that’s a clear campaign,”
he said. “People, pundits, commentators, coaches from
other teams—they react with Chelsea in a way they don’t
react to other teams. They put lots of pressure on the
referee and the referee makes a mistake like this. We lose
two points, Fabregas earns a yellow card.”
Chelsea are waiting to hear whether they will face any
disciplinary action following their stormy 1-0 win over
Liverpool in the second leg of the League Cup semi-finals
on Tuesday. Brazil-born Spain striker Costa could face a
three-game ban after appearing to stamp on Liverpool
players Emre Can and Martin Skrtel during the game.
Mourinho said the incidents were “absolutely accidental”.
DEVELOPMENT
Real’s Santiago Bernabeu
stadium set to be renamed
as Abu Dhabi Bernabeu
By Sid Lowe
theguardian.com
T
he Santiago Bernabeu stadium will be renamed the Abu
Dhabi Bernabeu, according
to a report in Spanish sports
newspaper AS.
The report has not been confirmed
by Real Madrid and indeed the club
has not yet explicitly announced that
the stadium will change its name at
all, but the club’s president, Florentino Perez, was caught on camera admitting to a member of the regional
government that the stadium will be
called whatever the Abu Dhabi investment group IPIC want it to be called.
Madrid signed a deal with the International Petroleum Investment
Company at the end of October 2014.
IPIC is an Abu Dhabi-based company
that owns the Spanish petrol company Cepsa and is owned by the emirate.
No figures were given, but Perez
presented it as an agreement that
would enable Madrid to carry out the
redevelopment of the Bernabeu.
While figures were not given, the deal
was understood to be worth €3million
a year until Madrid began work, when
IPC would pay €20m a year. Madrid
have not said that the stadium will be
renamed, although Perez has admitted
that it might be given a “surname”.
Privately, he was more explicit.
In mid-November, television cameras caught Perez talking to Lucia
Fijar, in charge of the department for
Sport and Education in the Madrid
regional government following an
event organised to present a commercial deal with Microsoft, who had
originally been touted as among the
candidates to buy naming rights for
the stadium.
“We’ll call it IPIC Bernabeu or
whatever they want … or Cepsa Bernabeu,” Perez had said.
Now AS reports that the stadium
will be called the Abu Dhabi Bernabeu after IPIC was rejected as a
name.
Whether that is the final decision
remains to be seen but its days of being just the Santiago Bernabeu seem
to be numbered.

Daily newspaper - Gulf times

Daily newspaper - Gulf Times

Daily newspaper - Gulf Times

Daily newspaper - Gulf times

Daily newspaper

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Qatars projects - Gulf Times

Daily newspaper - Gulf times