Iraq's Ashur Bank exploring Islamic banking window, says chairman
DUBAI: Iraq's Ashur International Bank wants to open Islamic banking services in Iraq amid growing interest in sharia-compliant financing, the investment bank's chairman said on Tuesday. Speaking on the sidelines…
Iranian director at Cannes slams crackdown on art at home
Iran's Abbas Kiarostami premiered his new film at Cannes Tuesday and used the festival to slam his government's crackdown on artists and call for the release of jailed director Jafar…
Bahrain hails its first clean diesel shipment
MANAMA: Non-OPEC oil producer Bahrain has recently made its first shipment of ultra-low sulphur diesel of less than 10 parts per million (ppm), the country's Minister of Oil and Gas…
Moody's does not see more big Dubai downgrades
RIYADH: Dubai's government-linked entities may be spared further major ratings downgrades in the near future, an analyst for Moody's said on Wednesday, in a sign that the emirate may be…
Indian festival lifts gold sales in Gulf, says WGC
DUBAI: This year's Indian Akshaya Tritiya festival helped boost retail gold sale volumes in the Gulf region by 11 percent compared to last year's despite high bullion prices, the World…
Qatar April prices rise 0.3 pct m/m, food, transport up
DOHA: Qatar consumer prices rose 0.3 percent month-on-month in April, the third consecutive monthly increase and driven by rising food and transport prices and a slight recovery in housing costs,…
UAE Crescent, Russia Rosneft team up for energy JVs
DUBAI: The UAE's Crescent Petroleum has teamed up with Russia's state-run oil producer Rosneft to purse oil and gas deals in the Middle East and North Africa, Crescent said in…
Dubai Nakheel optimistic on final creditor deal
DUBAI: Dubai World property unit Nakheel on Tuesday said it remains "optimistic" of reaching a final settlement with trade creditors. The builder of palm-shaped islands off Dubai said in a…
Toyota to recall 11,500 Lexus vehicles
TOKYO: Toyota said Wednesday it would recall 11,500 Lexus vehicles worldwide because of a steering system defect, in the latest blow to the Japanese auto giant's reputation. Toyota said it…
Zambia's last DR Congo refugees fear return home
MWANGE REFUGEE CAMP: Ten years after fleeing war in the Democratic Republic of Congo, Muzungu Makoi says he is still haunted by memories of massacres and refuses to leave his…
