Home The Buzz Morning briefing: 3 Oct 2012


Morning briefing: 3 Oct 2012

Car bombs hit Damascus and other key stories

by Executive Staff

Politics

Two car bombs exploded on a main square in a government controlled central district of Syria's second city Aleppo on Wednesday morning, a pro-government television channel said.

Al-Ikhbariya TV said the bombs detonated in Saadallah al-Jabari Square in western Aleppo, Syria's largest city which has now been split in two with forces loyal to President Bashar al-Assad mainly in the west and rebel fighters in the east.

Fighting only with light weaponry, rebels have resorted to bomb attacks in areas still controlled by Assad. Several large protests in support of the president have been held in Saadallah al-Jabari square.

More from Reuters

 

Iran would enrich uranium up to 60 percent purity if negotiations with major powers over its nuclear program fail, an Iranian lawmaker said on Tuesday, in comments that may add to Western alarm about Iranian intentions.

Mansour Haqiqatpour, deputy head of parliament's Foreign Policy and National Security Committee, said 60 percent enrichment would be to yield fuel for nuclear submarines, which often require uranium refined to high levels.

But it would also take Iran another significant step closer to the 90 percent enrichment level needed to make atomic bombs. Iran says its nuclear program is for peaceful energy only.

More from Reuters

 

Economics

Latin American and Arab leaders agreed to form a joint investment bank during a summit in Peru.

At the end of the two-day meeting on Tuesday, the heads of state announced the investment bank would integrate national banks and could finance common projects between the Union of South American Nations and the Arab League.

The third summit of South American and Arab countries (ASPA) – representing some 32 countries – focussed on economic and political cooperation.

More from The Daily Star

 

Economic growth in Jordan slowed slightly to 2.9 percent year-on-year in the second quarter but was supported by a sharp rise in tourism, official data showed on Tuesday.

The pace of growth eased marginally after a first-quarter expansion of 3 percent year-on-year.

Jordanian authorities expect the economy to expand by around 2.7 percent in 2012. The International Monetary Fund (IMF)recently forecast growth could reach 3 percent with signs of a recovery in remittances and a rebound in tourism receipts.

More from Arabian Business

 

Iraq’s Finance Ministry has begun paying an initial $650 million to Iraqi Kurdistan for oil companies working in the autonomous region, Deputy Prime Minister Rosh Nuri al-Shawish told Reuters Tuesday.

Baghdad and the Kurdish Regional Government agreed last month to settle a dispute over oil payments, after the latter pledged to continue exports and the Iraqi government said it would pay foreign companies working there.

“The federal Finance Ministry has started transferring the first oil payment of $650 million to the Kurdish region,” said Shawish, a Kurdish member of the central government negotiating team.

More from The Daily Star

 

And finally

US pop sensation Rihanna is to perform at Dubai's Meydan Racecourse.

Meydan commercial director Mohammad Nasser Al Khayat told Arabian Business at Cityscape Global 2012 that an official announcement on the 'Umbrella' star's performance in the emirate was imminent, without indicating when Rihanna would be playing.

Meydan, according to Al Khayat, is lining up a series of high profile concerts for next year in a bid to turn up the heat on Abu Dhabi’s Yas Marina, which in recent months has boasted gigs from the likes of Madonna, Paul McCartney and Elton John. Hip hop performer Eminem will headline next month's Abu Dhabi F1 Grand Prix, alongside heavy metal group Nickelback, further cementing the UAE capital's reputation for live music.

More from Arabian Business

 

 

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Executive Staff


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