Kuwait’s IIG defaults on $152.5 mln bond payment
DUBAI: Kuwait's International Investment Group (IIG) said it was unable to make a $152.5 million Islamic bond payment, its second default this year, and named as its advisor to look…
Saudi Arabia: Full steam ahead
RIYADH: Infrastructure upgrades are the order of the day, with the government of Saudi Arabia giving its full financial backing to big-ticket transport projects in a bid to ensure that…
Hodoud coach gracious in defeat
CAIRO: The Alexandria-based club could not find top gear at Cairo Stadium and missed out on the chance to wrap up a second consecutive Super Cup title after overcoming Ahly…
Abd-Rabou intends to stay at Ismaili
CAIRO: The Egypt midfielder had 10 percent of his yearly salary deducted by Ismaili after he insulted some of the club's officials during a board meeting last week. He was…
Oil drilling off Libya to start within weeks, says BP
LONDON: British oil giant BP will start drilling off the Libyan coast in a few weeks, a spokesman said Saturday, stressing it would take into account any lessons learned from…
Iran signs 1.3 billion dollar gas pipeline deal with Turkey
TEHRAN: Iran has signed a $1.3 billion deal with a Turkish firm to build a pipeline for gas exports of 60 million cubic meters (2.1 billion cubic feet) a day…
Abu Dhabi: Telecoms opens further
ABU DHABI: Greater competition in the UAE’s telecommunications industry is expected to usher in an era of increased choice and lower prices for consumers of fixed-line telecoms services, particularly high-speed…
RAK: Beyond construction
DUBAI: Diversification has become the name of the game for RAK’s light industries, as a foreseen fall-off in construction is expected in the near future as demand begins to catch…
Developer says sorry for naming prince in Qatar row, say reports
LONDON: A London developer has apologized to Prince Charles for naming him in a lawsuit against his Qatari partners over a failed building project, after finally settling the dispute, reports…
Four Gaza rockets hit southern Israel, says army
JERUSALEM: Gaza-based insurgents fired four rockets into southern Israel over the weekend, a military spokesman said on Sunday. None of them caused any casualties or damage, the spokesman said, adding…