Egypt expects to up energy subsidies, maintain food subsidies
CAIRO: Atef Malash, head of the finance ministry's state budget sector, announced that the ministry has ruled out requesting an additional LE 4.5-7 billion for fiscal year 2010/11 to meet…
UN, US welcome Afghan parliament deal
KABUL: The United Nations and the US government on Tuesday welcomed a deal between Afghanistan's president and elected parliamentarians that will allow the legislature to convene without further delay. They…
Palestinians lash out over document leak
RAMALLAH: The Palestinians now have their own version of a WikiLeaks scandal. President Mahmoud Abbas and his aides went on the attack Monday, accusing Al-Jazeera television of lies and distortions…
School hijab ban divides Muslim Azerbaijan
NARDARAN: A woman with her head uncovered is a rare sight in Nardaran, an impoverished village on the Caspian Sea which has become a stronghold of Islamic activism in ex-Soviet…
Moscow bombing again shatters illusions in Russia
By Stuart Williams/ AFP MOSCOW: President Dmitry Medvedev had this week been due to enjoy the honour of delivering the keynote speech at the World Economic Forum in Davos, persuading…
Drake & Scull wins $126 mln tourism deal in Egypt
Drake & Scull International, the Dubai-based engineering contractor, won a 465 million dirham ($126 million) contract in Egypt, reported Arabian Business. The company will provide mechanical, electrical and plumbing works…
PwC sees mid-single digit growth in yr to end-June
Global accounting firm PricewaterhouseCoopers expects mid-single digit percentage growth this financial year to end-June as it focuses on the Middle East and other emerging markets. PWC, one of the "Big…
German foundation refuses to return Nefertiti bust
BERLIN/CAIRO: A German foundation rejected on Monday an Egyptian request to return the 3,400-year-old bust of Queen Nefertiti, a sculpture which draws over one million viewers annually to a Berlin…
Surging c/a deficit makes Turkey more vulnerable
ISTANBUL: Turkey's surging current account deficit makes the country more vulnerable to outside shocks, posing risks to investors amid doubts over the central bank's efforts to contain it by letting…
Saudi to raise wheat reserves, boost storage
RIYADH: Top OPEC exporter Saudi Arabia hopes to double wheat reserves to a year's worth within three years, aiming to create a buffer against the impact of a spike in…