Gulf banks need more provisioning, says AMF
BASEL, Switzerland: Some Gulf banks need more provisions to scrub themselves clean from problems from the credit crisis and their lending must become more prudent to avoid future bubbles, the…
Bahrain property seen subdued for some time, says report
MANAMA: Bahrain's property market is likely to remain subdued for some time due to lack of financing, while oversupply in both the residential and commercial sector will put further pressure…
Weak Gulf steel demand may lead to oversupply, says trade
DUBAI: Weak steel demand in the Gulf region might lead to oversupply in the market forcing prices to fall further in the coming weeks, steel traders said on Monday. Construction…
Dubai's DAE may postpone Boeing, Airbus orders, says report
PARIS: Dubai's financial woes may force majority state-owned Dubai Aerospace Enterprise (DAE) to renegotiate some 220 aircraft orders with Boeing and Airbus, French daily Les Echos said on Monday. The…
DP World delays LSE dual listing, shares fall
DUBAI: Ports operator DP World, postponed plans to seek a dual listing on the London Stock Exchange in a surprise move on Monday, saying it needed to find an acceptable…
Basra oil exports partly recover from sandstorm
BAGHDAD: Oil exports from Iraq's southern oil hub of Basra partly recovered on Monday to 1.08 million barrels per day after disruption by a sandstorm over the past two days,…
Germany beats England 4-1 to reach WCup quarters
BLOEMFONTEIN, South Africa: Germany was ruthless in advancing to World Cup quarterfinals Sunday, beating England 4-1 in a second-round match overshadowed by a glaring mistake from the referee. Thomas Mueller…
Argentina beats Mexico 3-1 at World Cup
JOHANNESBURG: Carlos Tevez scored two goals and Gonzalo Higuain added another Sunday to give Argentina a 3-1 win over Mexico and a spot in the World Cup quarterfinals. For the…
Spain gets stern test against Portugal and Ronaldo
CAPE TOWN, South Africa: Spain's golden generation faces its sternest World Cup test against Portugal on Tuesday, with Cristiano Ronaldo standing in the way of a spot in the quarterfinals.…
Paraguay, Japan chasing 1st last-8 WCup appearance
JOHANNESBURG: Japan's dead-ball prowess could hold the key to breaking down Paraguay's stingy defense as both World Cup underdogs chase a first appearance in the quarterfinals. The South Americans conceded…