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March 2007
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Money
March 2007

Arabian Business English
March 2007

Arabian Business Arabic
March 2007

Construction Week
March 2007
 
Analysis of The Month
Power 100, ArabianBusiness.com's prestigious survey of the 100 most powerful Arabs in the Middle East, was the main story for March.

Topping the list was 'Businessman - Billionaire - Prince' HRH Prince Alwaleed bin Talal whom ArabianBusiness.com would profile in greater detail in a world exclusive in the coming months.

Opening the month, our covered were graced with the story 'Art Works' revealing how the Gulf is booming as place for the collection, cultivation and commerce of art, highly topical with the likes of Guggenheim and the Louvre Museums coming to the UAE. In the very same issue, we certainly did not 'take it easy' when we met Stelios Hajio-Ioannou, the easyGroup founder, entrepreneur, and philanthropist about the launch of his first Gulf venture.

The following week, we continued the theme of the ‘budget-conscious consumer' by interviewing Marwan Boodai, CEO of booming low-cost passenger carrier Jazeera Airways. The very same issue, ArabianBusiness.com played its part in 'Making Poverty History', by interviewing Muhammad Yunus, the Grameen Bank founder, microfinance innovator and Nobel Prize Winner.

Ending March was an interview titled 'Islamic Bond/The Dealmaker' with Investment Dar chairman, Adnan Al Musallam on how the Kuwaiti investment company's salvation attempts for the seven-times-bust Aston Martin.

ArabianBusiness.com Editor-in-Chief James Bennett aired his views in March with Oiling the wheels, discussing how Halliburton's HQ move from the US to Dubai is the biggest coup the regional business world has ever seen.
March in Quotes
Is it really power or is it achievement? The sense of achievement is the most important thing. Everything else will follow.

Emaar chairman Mohammed Alabbar gives his opinion about the perception of power, after he was voted one of the 100 Most Powerful Arabs by ArabianBusiness.com.

Timeline
2007 Mar 2
Ivan Safronov, a Russian military affairs writer for the daily Kommersant, fell to his death from a fifth-story window in Moscow. On Mar 6 his newspaper said he had received threats while gathering material for a report claiming Russia planned to provide sophisticated weapons to Syria and Iran.

2007 Mar 3
In Kuwait a criminal court acquitted two former Guantanamo Bay prisoners of joining al-Qaida or the Taliban.

2007 Mar 3
Saudi Arabia's king personally welcomed Iranian President Mahmoud Ahmadinejad upon his arrival, a rapprochement many hope will help calm sectarian tensions threatening the Middle East. The leaders pledged to fight the spread of sectarian strife in the Middle East, which they said was the biggest danger facing the region.

2007 Mar 3
A Yemen official said a hundred jailed Muslim extremists, including some who allegedly fought for al-Qaida in Iraq, had been released. Some had completed serving their sentences, while some of the others were acquitted for lack of evidence.

2007 Mar 4
Officials said Kuwait's Cabinet has resigned in a widely expected move that pre-empts a vote of no-confidence in the health minister, who is a member of the ruling family. Kuwaiti governments have previously pre-empted votes of no-confidence by resigning and Cabinet reshuffles. Such moves have even led to dissolving parliament.

2007 Mar 5
In central Turkey a rock fall caused the roof of a hillside nightclub to collapse in the Cappadocia area, killing three people.

2007 Mar 5
John Holmes, the new UN humanitarian chief, said the UN plans to open an office in Jordan to deal with the increasingly serious humanitarian problems posed by 1.8 million Iraqis who have fled to neighboring countries and a similar number who have fled their homes and are still inside Iraq.

2007 Mar 6
France and the United Arab Emirates signed an agreement to open a branch of the Louvre museum in Abu Dhabi, despite criticism that the French government is peddling the country's artistic treasures.

2007 Mar 6
Iran said its former deputy defence minister was missing while on a private trip to neighbouring Turkey, and its top police chief accused Western intelligence services of possibly kidnapping the official.

2007 Mar 6
In Mexico gunmen wounded Gen. Francisco Fernandez, the top security official in the Gulf coast state of Tabasco, and killed his driver.

2007 Mar 7
Turk Telekom blocked access to Google's YouTube video-sharing site after a court ruling over videos deemed insulting to Mustafa Kemal Ataturk, the founder of modern Turkey.

2007 Mar 8
In Austria delegates to a 35-nation meeting of the International Atomic Energy Agency approved the suspension of nearly two dozen nuclear technical aid programs to Iran as part of UN sanctions imposed because its nuclear defiance.

2007 Mar 8
Palestinians desperate to cross into Egypt from Gaza surged toward a border terminal, throwing stones as security personnel fired their weapons to maintain control. Seven people were injured.

2007 Mar 8
Syria's Pres. Bashar Assad inaugurated the first stage of a joint Syrian-Iranian auto factory, test-driving one of the new cars and declaring that the project will boost cooperation between the allies.

2007 Mar 9
Turkey lifted its ban on YouTube two days after a court ordered the Web site blocked because of videos that allegedly insulted the founder of modern Turkey.

2007 Mar 11
Iranian TV quoted government spokesman Gholam Hossein Elham as saying Ahmadinejad "intends to attend a UN Security Council meeting to be held on Iran's nuclear case in order to defend the rights of the Iranian nation in exploiting peaceful nuclear energy."

2007 Mar 11
Halliburton CEO Dave Lesar announced that his oil services company will soon shift its corporate headquarters from Houston to the Mideast financial powerhouse of Dubai.

2007 Mar 12
Iran issued a bank note with a nuclear symbol in a move seen as an assertion of its national will in the face of international sanctions over its insistence on enriching uranium.

2007 Mar 12
US lawmakers responded angrily over a weekend announcement by Texas-based Halliburton, a US oil services giant, that it is shifting its corporate headquarters to Dubai.

2007 Mar 12
Gen. David Petraeus, the top US commander in Iraq, said in a newly released interview that it's "indisputable" Iran is training and arming militants to fight against US-led troops in Iraq. Police found only nine bullet-riddled bodies in Baghdad, apparent victims of Sunni-Shiite reprisal killings.

2007 Mar 12
In Kuwait a US military contractor was killed and three others injured in an accident that may have involved unexploded ordnance at the largest American military base.

2007 Mar 14
The Russian state-run company building a nuclear plant in Iran warned that Iranian payment delays may cause "irreversible" damage to the project, another strong signal of Moscow's annoyance with Tehran.

2007 Mar 14
In Egypt a published decree said Mukbil Shakir, head of the Supreme Judicial Council, has named the country's first female judges despite opposition from conservative Muslims. Shakir appointed 31 women to judge or chief judge positions in Egypt's courts.

2007 Mar 15
The six world powers reached an agreement on a draft resolution for a new package of sanctions against Iran for its nuclear program. It included an embargo on arms exports and an asset freeze on more individuals and companies associated with Tehran's nuclear and missile programs.

2007 Mar 15
Jordan's military court sentenced to death four Iraqi al-Qaida militants charged with terror attacks on Jordanians in Iraq. Of the four, only one is in custody while the other three remain at large and were tried in absentia.

2007 Mar 16
Six major powers sent a strong signal to Iran that they remain united in seeking to rein in its nuclear ambitions, compromising on a sanctions package to step up pressure on the Islamic republic to suspend uranium enrichment.

2007 Mar 16
Adel Abdul-Mahdi, the Iraqi vice president, presented his country's economic and political reform plan at a UN conference, pledging to adopt a law to the Iraq's oil riches among its often feuding regions and a program to grant amnesty for insurgents who renounce violence.

2007 Mar 18
In Egypt over 100 mainly Islamist lawmakers walked out of parliament to protest government moves to push through constitutional laws that opponents fear will entrench the ruling party's grip on power.

2007 Mar 18
Iran's justice ministry said Shahram Jazayeri, a fugitive Iranian businessman, was arrested outside the country after escaping from authorities last month. Jazayeri had been sentenced in 2002 to 27 years in prison for embezzlement in a high-profile conviction.

2007 Mar 19
Egypt's parliament approved a controversial set of amendments to the constitution that the opposition has denounced as a blow to democracy. Critics said the amendments are meant to ease his son's succession.

2007 Mar 19
In northern Lebanon rival Palestinian factions clashed in a refugee camp, shaking the camp with explosions and wounding at least two gunmen.

2007 Mar 19
A Yemen military official said government forces seized a number of bases belonging to Shiite rebels in northern Yemen following fighting that drove some 2,500 civilians from their homes. Military officials said that 144 Yemeni troops have been killed since January.

2007 Mar 20
Russia confirmed that it has begun pulling out experts from the Iranian nuclear power plant they were helping build and that it is withholding nuclear fuel for Iran's reactors.

2007 Mar 22
Smugglers taking illegal migrants from Somalia to Yemen forced hundreds of Africans overboard in stormy seas in an effort to make a fast getaway from security forces. 31 bodies were found and nearly 90 people remained missing.

2007 Mar 23
Iranian naval vessels seized 15 British sailors and marines who had boarded a merchant ship in Iraqi waters of the Persian Gulf as part of efforts to protect the Iraqi coastline and its oil terminals.

2007 Mar 24
The UN Security Council unanimously voted to impose additional sanctions against Iran for its refusal to stop enriching uranium, a move intended to show Tehran that defiance will leave it increasingly isolated.

2007 Mar 25
British PM Tony Blair said that the 15 British sailors and marines captured by Iran as they searched for smugglers off the Iraqi coast were not in Iranian waters and warned that Britain viewed their fate as a "fundamental" issue.

2007 Mar 26
Israel welcomed the idea of a regional peace summit and Saudi Arabia suggesting it would consider changes in a dormant peace initiative to make it more acceptable to Israel.

2007 Mar 27
Egypt's government said voters had overwhelmingly approved a set of controversial amendments to Egypt's constitution, a day after opposition groups massively boycotted the referendum. Egyptian blogs soon showed cell video clips of ballot stuffing.

2007 Mar 27
In Iraq 2 nearly simultaneous truck bombs, including one detonated by remote control, ripped through markets in Tal Afar, killing at least 48 people and wounding dozens as violence surged outside the Iraqi capital.

2007 Mar 29

Britain took its escalating crisis with Iran over 15 captured sailors to the UN Security Council, as Tehran said it would not release the only woman among the detainees.

2007 Mar 29
Arab leaders at their summit in Riyadh agreed on a call for Israel to accept their land-for-peace offer and open direct negotiations with the Arabs. Unlike past summits that at times saw overt feuds break out, the gathering of Arab kings, emirs and presidents showed unusual public unity as it revived the peace offer, which they first made in 2002 only to meet rejection from Israel.

2007 Mar 30
One of the 15 British service members held captive in Iran appeared on the government's Arabic-language TV and said he apologized "deeply" for entering Iranian waters without permission.

2007 Mar 30
The Pentagon released a transcript in which Abdal-Rahim al-Nashiri, a Saudi national of Yemeni descent, told a military hearing at Guantanamo that he was tortured into confessing that he was involved in the bombing of the USS Cole.

2007 Mar 30
A French architect claimed to have uncovered the mystery about how Egypt's Great Pyramid of Khufu was built. Jean-Pierre Houdin said advanced 3D technology had shown the main ramp which was used to haul the massive stones to the apex was contained 10-15 meters beneath the outer skin, tracing a pyramid within a pyramid.
March 2007
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Comments (6)

Fundamental errors
Posted by James, Dubai, UAE on 26 January 2008 at 12:49 UAE time

Try - sent the US dollar to a 17 year LOW, not high. And the Ruppee is worth far MORE than it was 12 months ago.

By the way being proud of the chaos that ensued following your stroy on the dollar depeg is nothing to be proud of, if that what your implying happened.

HSBC and other major banks were profiteering in the aftermath buying dollars at 3.40 and selling at 3.69? Best of both worlds for them? Or just covering themselves? But a disaster for everyday businesses and people who were stuck with dollars and debts in dirhams... all on the back of mere speculation - go the market economy?!?. The banking industry - along with Arabian Business should be ashamed.
Review 2007
Posted by N. A. Mirza, Jeddah, Saudi Arabia on 31 December 2007 at 17:39 UAE time

Looks sound and indeed worth preserving. December Timeline should have stories on the most peaceful and accident free Haj, BJP's history-making victory in India's western state of Gujrat and above all assassination of Benazir Bhutto. An analysis on King Abdullah's sincere peace efforts was a must.

Editor's reply: December's timeline will be updated with the happenings of the last two weeks of December shortly.
BEST AND WORST NEWS OF 2007!
Posted by RAJENDRA ANEJA, DUBAI, UAE on 27 December 2007 at 11:50 UAE time

Best news:

1. Some peace in Iraq and refugee return.
2. More focus on climate
3. Dialogue between Bush, Putin
4. No war with Iran
5. Talks between Israel, Palesine
6. Shakira going to study at a university


Worst news:

1. Continuation of world poverty
2. No cure for Aids, cancer
3. Human rights violations and beating of monk in Burma
4. Inflation across the word, including Gulf.
5. Instability in India, Pakistan.
6. I have not become a movie-star (the pay is better, than that in management).
REVIEW 2007: PROFITS AND SOUL
Posted by RAJENDRA ANEJA, DUBAI, UAE on 26 December 2007 at 17:04 UAE time

The review writtn by Mr James Bennett, is sound, pithy and covers all key issues. Congratulations for this excellent encapsulation.

I hope 2008, will be a more enlightened year for the Gulf and for all of us. Let us hope, we realise that money is important, but without good HR practices, there can be no profits in the long run.

And as the Bible preaches, "What does it profit a man to gain the whole world, at the loss of his own soul."
Brilliant
Posted by Frank Dane, Dubai, United Arab Emirates on 26 December 2007 at 11:26 UAE time

That is one of the best Year in Reviews I have seen. Really polished - especially on the later months - October to December. I love it. Thank you - another great reference site, and hugely entertaining as well.
Pressure mounts on last female minister to quit
Posted by Adam, Kuwait, Kuwait on 25 December 2007 at 08:53 UAE time

The Kuwait government needs to get a life.. The men in parliament cannot handle a women minister. I admire her and for what she is doing and putting all these silly men to shame.. Wake up guys...
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