Hard up in New York? Pawn your Renoir
Pity the world s rich: as the credit crunch bites, they too are heading to the pawnbroker s - albeit with a Renoir or Van Gogh under their arm. New…
G7, G20 finance chiefs to meet in Washington on April 25
WASHINGTON: Finance ministers of the Group of Seven (G7) and Group of 20 (G20) will hold talks in Washington on April 25 as they gather for the spring meetings of…
Too soon for OPEC to react to IEA forecast-Qatar
DOHA: It is still too soon for OPEC to react to a sharp revision in the forecast for global oil demand from the Paris-based International Energy Agency (IEA), Qatar s…
Mortgage securitization to drive Islamic growth
MANAMA: The securitization of mortgages will be the next catalyst of growth for Islamic finance once financial markets have calmed down, an executive said on Monday. The Islamic finance industry…
Liquidity woes menace Islamic banks
DUBAI: Islamic banks will face a crisis scenario by the end of September that could include forced consolidation if liquidity does not return to the financial sector, a leading banker…
Egypt stock indexes decline on foreign selling
CAIRO: Egyptian share indexes declined on Monday as foreign investors sold blue chips to lock in profits on worries international markets might not sustain a current rally, a trader said.…
Egypt says 13 Lebanese, Sudanese hiding in Sinai
AL-ARISH: Egyptian police are tracking down 13 members of an alleged Hezbollah cell believed to be hiding out with the Bedouins in the rugged Sinai peninsula, a security official said…
Brotherhood leader files lawsuit to end travel ban
CAIRO: Prominent Muslim Brotherhood member Essam Al-Erian filed a lawsuit Saturday against the interior minister to lift a travel ban that has prevented him from leaving the country for nine…
Egyptian soldier killed, Israeli tourist stabbed in Sinai
CAIRO: In two separate incidents Monday, an Egyptian police officer was killed when a fellow soldier's gun went off near the border, and an Israeli tourist was stabbed by a…
Egypt bans cement exports as regulator investigates sector
CAIRO: The Ministry of Trade and Industry on Sunday announced it would ban cement exports for four months as competition regulators investigate the sector.Cement prices have risen in Egypt despite…