Israeli warplanes strike Gaza tunnels
GAZA CITY: Israeli warplanes fired missiles at targets across Gaza on Monday, damaging a series of tunnels along the territory's border with Egypt, sources on both sides said. Palestinian security…
Trika hands Ahly Super Cup title
CAIRO: It was not the grittiest of displays from Mohamed Abou-Trika but he still managed to give Ahly their sixth Super Cup title after a narrow 1-0 victory over Harras…
Iraq suicide bomber kills four at Al-Arabiya TV offices
BAGHDAD: A suspected Al-Qaeda suicide bomber blew up a car by the Baghdad offices of Al-Arabiya television killing four people on Monday, a month after the Saudi-funded channel was warned…
Sphinx: A breakthrough in making Egyptian glass
CAIRO: As the function of glass in Egypt’s construction sector changes, Sphinx Glass is hoping to capitalize on the growing demand, both domestically and regionally. With its new LE 1.1…
Egypt ruling party to name presidential candidate in mid-2011
CAIRO: A top Egyptian ruling party official says his party will elect its presidential candidate in May or June of next year, a few months ahead of a scheduled election.…
Dubai bank Emirates NBD Q2 misses forecasts
Dubai: Emirates NBD, one of the Gulf banks most exposed to indebted Dubai World, missed analysts' forecasts as its quarterly profit more than halved due to higher bad loan provisions,…
India’s DLF to buy out Dubai World unit in JV, says paper
MUMBAI: Indian real estate firm DLF is buying out the stake held by a property unit of debt-laden Dubai World in an equal joint venture in India for about 2…
Oman: Back to speed
MUSCAT: Growth in Oman may rebound even stronger than anticipated this year, with a recent report predicting GDP will expand by 7.3 percent in 2010. The report, written by the…
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…