Al-Bashir declared winner in landmark Sudan polls
KHARTOUM: Sudanese President Omar Al-Bashir was on Monday declared winner of the country's first multi-party presidential election in over two decades. "The winner in the election of the president of…
Gulf Islamic banks eye conversion of conventional peers
MANAMA/DUBAI: More banks in the Gulf Arab region may convert to Islamic finance in a bid to tap rising demand for sharia-compliant products and to avoid the heavy investment required…
Israeli MK calls for CEO Salary Cap
TEL AVIV: A member of Israel’s governing coalition has proposed a new that forbid the CEOs of Israeli public companies from earning 50 times more then the lowest paid worker…
Kuwait's Gulf Bank posts $1.8 mln Q1 loss
KUWAIT: Kuwait's Gulf Bank fell to a net loss of 524,000 dinars ($1.82 million) in the first quarter of 2010 after a profit of 1.6 million dinars in the same…
World Bank agrees on power shift to emerging nations
WASHINGTON: US Treasury Secretary Timothy Geithner on Sunday said that World Bank members had agreed to give emerging nations more say in how the bank is run and how its…
Emaar rallies on Q1; mkts up on global outlook
DUBAI: Emaar Properties advanced on Sunday after the developer's first-quarter profit more than tripled, helping Dubai's index end higher for a second session. Most Middle East markets rose, bolstered by…
UAE banks likely to take Dubai World hit in Q2
DUBAI: United Arab Emirates banks are likely to face the brunt of the Dubai World restructuring impact in the second quarter after the central bank told lenders they are not…
Iran found to be the Middle East's second largest market for cosmetics
TEHRAN:Veiled and to some degree hidden from public life, many in the West assume that Iranian women lead largely self-effacing lives. But according to a recent study by an Iranian…
Hot air balloon crashes in Emirates, killing 2
DUBAI, United Arab Emirates: A hot air balloon carrying 14 people crashed early Sunday in the desert south of Dubai, killing at least two. Aviation authorities said the accident happened…
Abbas invited to Washington as US ramps up peace efforts
RAMALLAH: US President Barack Obama has invited Palestinian leader Mahmud Abbas to Washington in May in a fresh bid to relaunch Middle East peace talks, a Palestinian official said Sunday.…
