The dollar and the dragon
CAMBRIDGE: For several years, American officials have pressed China to revalue its currency. They complain that the undervalued renminbi represents unfair competition, destroying American jobs, and contributing to the United…
Are Egyptians ready for equal rights regardless of religion?
CAIRO: Egyptians are tired of the problems that have persisted for decades: the corruption and bribery that paralyze the nation’s law enforcement and legal system; the perpetual poverty that 20…
Decoding Egypt: Mr. El-Baradei: Are you losing the momentum?
The return of Mohamed ElBaradei to Egypt and his readiness to challenge President Hosni Mubarak in the upcoming presidential elections was like throwing a pebble in the stagnant waters of…
Libya ship resumes course to Gaza; Israel, Egypt say it’ll dock in Al-Arish
JERUSALEM: A Libyan aid ship resumed its voyage on Wednesday after stalling overnight, with the organizers insisting it was on course for Gaza and defying calls by the Israeli navy…
Bank Muscat misses f/cast with Q2 profit rise
DUBAI: Bank Muscat, Oman's largest bank by market value, reported an 87 percent jump in second-quarter net profit helped by reduced credit losses and higher deposits but still fell short…
Netanyahu, Abbas meetings delayed but Egypt denies Mubarak health rumors
CAIRO: President Hosni Mubarak’s meetings with Israeli Prime Minister Benyamin Netanyahu and Palestinian Authority President Mahmoud Abbas have again been pushed back to next week but speculation that this is…
Kuwait’s NBK booked $81 mln provisions in Q2
KUWAIT: National Bank of Kuwait , booked 23.5 million dinars ($81.29 million) of provisions in the second quarter and expects a tougher second half, its chief executive said on Wednesday.…
Oil eases below $77 as supplies weigh
LONDON: Oil eased to below $77 a barrel on Wednesday, falling from a two-week high, after a weekly industry report showed a surprise increase in US crude inventories and European…
Iraq offers full Aug crude supply to most Asia buyers
SINGAPORE: Iraq will supply crude to most Asian term buyers at full contracted volumes for August, compared with an average 10 to 15 percent cut for July, traders said on…
Saudi Aramco sells end-Jul VGO into US at firm price
SINGAPORE: Saudi Aramco sold 280,000 barrels of end-July loading vacuum gas oil (VGO) to a European trading house at a much higher price than its previous deal for shipment to…