Final Gulf customs union yet 2-3 years away
JEDDAH: The six-nation Gulf Cooperation Council (GCC) has made much progress to clear the last obstacles for the bloc's long-awaited customs union but total completion will take two to three…
Afghanistan freezes Kabulbank directors’ assets
KABUL: Afghanistan has frozen the assets of leading shareholders and borrowers at Kabulbank, the country's top private lender, after the resignation of two top directors triggered a crisis, officials said…
Dubai holding unit delays loan repayment again
DUBAI: Dubai Holding's main unit will delay repayment on a $555 million loan until Nov. 30, the company said on Tuesday, the second time it has failed to meet a…
Nawras plans to raise upto $608 million in IPO
DUBAI/MUSCAT: Omani firm Nawras, a unit of Qatar Telecommunications, could raise as much as $608 million in its 40 percent initial public offering (IPO) after setting a price range of…
Etisalat doesn’t see a deal with Reliance this year
DUBAI: Emirates Telecommunications Corp, the Arab world's second-largest telecom operator by market value, does not expect a deal with India's Reliance Communications in 2010, its international chief said on Tuesday.…
Voting in elections is against national will for reform, ElBaradei tells supporters
CAIRO: Egypt's leading democracy advocate has made a forceful call for the nation to boycott November's parliamentary election, saying they were certain to be rigged and urging his young supporters…
Burning Quran endangers troops, says top US commander
KABUL: The top U.S. and NATO commander in Afghanistan warned Tuesday an American church's threat to burn copies of the Muslim holy book the Quran could endanger U.S. troops in…
Under daily blackouts, Lebanese wait to see the light
BEIRUT: Zeinab's refrigerator is more like a box than an ice box: the 29-year-old Lebanese civil servant cannot store meat, dairy products or fruits and vegetables for more than a…
Safari Slovaks held in plot claim freed in Central Africa
BANGUI: A group of Slovak nationals arrested in the Central African Republic for allegedly plotting a coup have been freed, the Bangui government said Monday, as Bratislava insisted the men…
Al-Qaeda in Iraq turns to extortion
MOSUL: Al-Qaeda has increasingly turned to extortion and organized crime to fund its activities, with businesses bearing the brunt of intimidation, US and Iraqi commanders in northern Iraq told AFP.…