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Oil prices drop on Mideast cease-fire

 NEW YORK (AFX) – Oil prices fell as much as $1.75 a barrel Monday as a cease-fire began in Lebanon and investors responded to news that BP expects to maintain half of its production at a large oil field in Alaska despite a pipeline leak.

Ahmadinejad launches his own blog

mahmoud ahmadinejadAgencies, August 14 – Iranian hardliner President Mahmoud Ahmadinejad has launched his own web log.

Iran’s state-controlled television announced the launch of his weblog with his first posting, titled ‘autobiography’ explaining his childhood, the Islamic revolution and the country’s war with Iraq.

Dubai free zone now open for real estate investment trust

Gulfnews, August 14 – Real estate investment trusts, which use pooled investors funds to buy and manage property, can now operate from Dubais financial free zone, the zones regulator said yesterday.

BD12m allocated to develop park into tourism landmark

Bahrain Tribune, August 14 – About BD12 million has been allocated to turn the Ain Adhari National Park into a landmark to attract visitors as part of the government’s tourism development plans.

Delta joins Microsoft-Gulf as retail distribution partner

Arab News, August 14 – Microsoft Gulf has announced the appointment of Delta Business Products FZCO as retail distributor for the GCC countries.

Delta is Microsoft’s retail distribution partner in the GCC, and will be responsible for promoting and distributing the complete range of Microsoft Retail products across the region.

Saudi Arabia: Mobile Industry Set for Massive Investment With 3G

 JEDDAH, 14 August – Mobile markets across Saudi Arabia and the rest of the Middle East are opening up to a fierce competition with the introduction of 3G or 3.5G services. Saudi Telecom CompanySaudi Telecom Company and MobilyMobily (Etihad Etisalat), the Kingdom’s two mobile service providers, have already announced the introduction of third generation services thus reflecting their ongoing investment policy. A third mobile service operator is also widely expected to enter the market in due course.

Lebanon peace resolution a ‘strategic setback’ for Iran

WASHINGTON – AFP reported on August 14 that the United Nation’s resolution on Lebanon will mark a "strategic setback" for Iran and Syria according to US State Department spokesman Sean McCormack.

The resolution that was adopted unanimously by the UN on Friday and put into force earlier Monday, will prevent Iran and Syria from continuing to provide arms and other support to the Hezbollah militia, whose attacks on northern Israeli sparked the month-long war, he said Monday.

First conference on tourism in Islamic countries to be held in Saudi Arabia

Arab News, August 10 – Saudi Arabia will host the first international conference on tourism and handicrafts in Islamic countries. Custodian of the Two Holy Mosques King Abdullah will open the conference scheduled to be held in Riyadh on Nov. 7-14, according to Interior Prince Naif, who is chairman of the Supreme Commission for Tourism (SCT).

Dubai ranks as 36th most expensive city

Nikhail Lohade
Emirates Today, August 11 – There is a growing concern in the business community that Dubai may out-price itself as a competitive location to set up base, with the city featuring among the most expensive in the world in yet another survey.

Iran using Hezbollah to dodge Security Council, U.S. Ambassador says

iran nuclearVoice of America, August 8 – Gregory Schulte, U.S. Ambassador to the United Nations International Atomic Energy Agency, says that Iran is trying to maximize its gains from the current Lebanese crisis to remain indifferent to United Nations’ recommendations and mandates. However, Mr. Schulte says such methods will not get anywhere.