Arms accord with ME allies signal to Iran, claims Hagel

Source: Saudi Gazette (Read full story)

US Defense Secretary Chuck Hagel said Sunday a $10 billion arms deal planned with Arab and Israeli allies sent a “very clear signal” to Iran that military options remain on the table over its nuclear program. “The bottom line is that Iran is a threat, a real threat,” Hagel, who arrived in Israel Sunday on his first visit there as defense secretary, told reporters on his plane. “The Iranians must be prevented from developing that capacity to build a nuclear weapon and deliver it,” he said.

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Speaker admits media law needs tweaks, consensus

Source: Kuwait Times (Read full story)

National Assembly Speaker Ali Al-Rashed yesterday said the controversial combined media draft law has not been received from the government and if it arrives, it will not be accorded urgency, which means that the bill’s debate may not take place before the next term. Speaking to editors-in-chief of local dailies, Rashed expected some new grillings will be filed against ministers, adding that if the ministers do not perform, the suspended grillings are there to be debated.

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SMN Barka desalination plant resumes full production

Source: Times of Oman (Read full story)

SMN Barka has confirmed to the Public Authority for Electricity and Water (PAEW) that the Barka 2 plant reached full water production capacity yesterday. The desalination unit of the plant was stopped last Saturday due to a fracture on a water pipe that occurred late afternoon, said a company release. Teams from Suez-Tractebel Operation & Maintenance Oman (STOMO), the plant operator, were immediately mobilized and after inspection of the damages, a two-phased repair plan was devised, the sole aim of which was to limit the downtime of the plant.

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F1 puts Bahrain on world map

Source: Gulf Daily News (Read full story)

A pioneering initiative, Business in Formula One, has been dubbed as a success by leaders in the industry, who said the three-day event which ran alongside the Gulf Air Bahrain Grand Prix provided rare opportunities and international exposure to local businesses. The last day of the event, held at the Bahrain International Circuit’s (BIC) Paddock Club, included a panel consisting of Batelco Group chief executive Shaikh Mohammed bin Isa Al Khalifa, APM Terminals chief executive Marco Neelsen, Merys executive vice-president Christian Schenk, F1 specialist Mark Gallagher and thirteen-time Grand Prix winner David Coulthard.

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Qatar National Bank Said to Plan Dollar Bond Sale Amid Expansion

Source: Bloomberg Businessweek (Read full story)

Qatar National Bank SAQ plans to sell dollar bonds as the first Arab lender with assets exceeding $100 billion pursues acquisitions. The initial price guidance has been set at the 3.125 percent area on the proposed seven-year bonds that may be sold as early as today, said two people familiar with matter, who asked not be identified because the details are private. Deutsche Bank AG, HSBC Holdings Plc, JPMorgan Chase & Co., Standard Chartered Plc, Mitsubishi UFJ Financial Group and Qatar National Bank are the book-runners.

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