Yemen government apologizes for wars waged by ex-president
Source: The Saudi Gazette (Read full story)
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The statement said the apology was required under a deal brokered by Gulf states that paved the way for Saleh to step down in 2011 after months of unrest and hand the reins of power to his deputy, Abd-Rabbu Mansour Hadi. Fahmy Al-Saqaf, a leader in the southern secessionist Herak movement, said the apology, though long overdue, was an important step. “But what is more important is what comes after the apology, and what we fear is that the (reconciliation) dialogue ends without implementing southern demands,” Saqaf said. Herak representatives recently suspended their participation in the reconciliation talks, demanding that the government make good on promises to restore seized property and return sacked state employees to their jobs.
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Saudi Arabia urges U.N. and EU to immediately address Syria ‘massacre’
Source: Al Arabiya ( Read full story)
Saudi Arabia urged the U.N. Security Council and EU ministers Wednesday to immediately address Syria’s “massacre,” following claims the army killed more than 650 people in a chemical attack. “It is time for the U.N. Security Council to assume responsibility… by convening immediately to reach a clear deterrent decision that ends the humanitarian tragedy,” said Foreign Minister Prince Saud al-Faisal. “We ask EU foreign ministers meeting today in Brussels (to discuss the Egyptian crisis) to have this humanitarian catastrophe as the main topic of their talks,” he told AFP. More than 650 people were killed when the Syrian army bombarded Damascus suburbs with chemical weapons Wednesday, the opposition Syrian National Coalition said.
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NA panel to determine ‘top three priorities’
Source: Kuwait Times (Read full story)
The parliament will form a ‘Priority Committee’ which will hold an opinion poll to determine the top three priorities of Kuwaiti citizens to address them first. A private company specialized in organizing polls will be the one to carry out this two-week survey. This committee consisting of MPs and ministers will work in cooperation with both the parliament and government, which will simplify the parliament’s work and lead to more achievements and help pass laws, necessary for the development and construction process. Kuwait Times asked Kuwaitis of different ages for their opinion on the three most important issues they would like the parliament to address first.
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Oman-Saudi direct road to cut distance by 1,200km
Source: Times of Oman (Read full story)
The work on a road to link Oman with Saudi Arabia via Al Rab Al Khali region will be completed by the end of next year, according to a report published by Al Shabiba, the Arabic newspaper of Times of Oman. Eng. Salim bin Mohammed Al Nuaimi, undersecretary of the Ministry of Transport and Communication, said that some agencies have requested the roadway to be opened for light traffic. The distance of the road on Omani side is around 160km, which was completed in 2004. However, the remaining 10km distance has been delayed till the border crossing between the Kingdom and the Sultanate is mutually agreed, noted the report. Eng. Al Nuaimi explained that the project is facing delays as the Saudi side has not completed their part of the project. He added that necessary facilities and services will be provided for successful completion of the project.
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Housing costs to continue driving up GCC inflation
Source: The National (Read full story)
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The uptick follows a period of subdued inflation across much of the GCC, especially the UAE, ever since the global financial crisis tightened the availability of credit and weakened the property markets. More recently, GCC economies have gathered fresh momentum, underpinned by strong government spending and housing demand from rising populations. On average, housing costs account for about 27 per cent of the consumer price index, the largest weighting in the basket. Food prices, which have also been fanning inflation, make up 20 per cent of the basket. In the UAE, the annual inflation rate reached 1.3 per cent last month, its highest level since July 2011, according to data released by the National Bureau of Statistics this month.
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Bahrain’s GFH sees H1 profits fall despite cost cutting
Source: Arabian Business (Read full story)
Gulf Finance House, the Bahrain based Islamic investment bank which bankrolled the takeover of English football club Leeds United, on Tuesday announced a net profit of $4.2m for the half year of 2013. Net profit fell compared to $5.7m in the corresponding half year period in 2012 despite a drive to reduce costs. Second quarter net profit also dropped to $2.7m from $4.7m for Q2 2012. Total income for the second quarter was $13.4m compared to a total income of $19.7m for the second quarter of 2012, the bank said in a statement. It said income was primarily generated from management fees from funds under management, investment income and recoveries.
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