Parliament gives Iraq leaders two more weeks to form govt
BAGHDAD: Iraqi politicians on Monday extended an inaugural parliamentary session by two weeks to give rival blocs more time to form a government, more than four months after an inconclusive…
Kuwait court acquits writer, releases activist
KUWAIT CITY: A Kuwaiti appeals court on Monday overturned a six-month jail term on a leading writer and ordered the release of a top liberal activist who spent 10 days…
Oil falls to around $76 ahead of earnings, data
LONDON: US crude oil futures fell to around $76 per barrel on Monday, consolidating after a week of gains and ahead of quarterly US company earnings and key macro-economic…
Egyptian pound gains after June inflation stable
CAIRO: The Egyptian pound strengthened marginally against the dollar after the government released relatively stable inflation figures for June. Annual urban inflation climbed to 10.7 percent from 10.5…
Sphinx Glass starts commissioning of LE 1.1 bln factory
CAIRO: Private equity firm Citadel Capital announced Sunday the start of commissioning at its 220,000-square-meter greenfield float glass factory, according to a statement. With a production capacity of…
Aresco wins $130 mln cement plant contract
CAIRO: Aresco, a subsidiary of Citadel Capital’s platform company ASEC Holding, won a $130 million contract to construct a cement plant for Building Materials Industry Company (BMIC) in Upper…
Palestinians watch and wait as Lebanon MPs debate their fate
BEIRUT: The fate of hundreds of thousands of Palestinians in destitute camps across Lebanon again hangs in the balance as rival leaders feud over whether to grant the refugees long-denied…
Mubarak-Netanyahu meeting postponed to Wednesday
CAIRO: A meeting between Egyptian President Hosni Mubarak and Israeli Prime Minister Benjamin Netanyahu in Cairo has been postponed by a day until Wednesday, a presidential source said. Netanyahu had…
What can creditors expect from Dubai World meeting
DUBAI: State conglomerate Dubai World has invited holders of $14.4 billion of its troubled debt to their first full-scale meeting since December last year to sell them a restructuring deal.…
Provisions, lending weaken Saudi banks Q2 earnings
RIYADH: HSBC's Saudi affiliate SABB bank missed forecasts and two other banks in the kingdom reported sharp falls due to high provisions to counter exposure to troubled Saudi firms and…