Oman stress-tests banks to limit euro crisis impact
ABU DHABI: Oman has started implementing stress tests in its banking sector to limit the impact of the euro zone crisis and a feared global recession, a senior central bank…
Standard Chartered eyes Oman, Nigeria for Islamic banking
DUBAI: Standard Chartered is in discussions with regulators to offer Islamic banking services in Oman and Nigeria, now that both countries are revamping their regulatory environments to encourage Islamic finance,…
Tantawi visits Tahrir Square, says report
CAIRO: Egypt's top general, Field Marshal Mohamed Hussein Tantawi, on Sunday toured Cairo's Tahrir Square where protesters have been camped out for more than three weeks demanding an immediate end…
Saudi to OK some foreign ownership of stocks: sources
DUBAI: Saudi Arabia's plans to open up its stock market will limit direct foreign ownership to investors with at least $5 billion under management and allow each to hold a…
S&P reviewing ratings of 50 MENA banks on new criteria
DUBAI: Standard & Poor's (S&P) is reviewing credit ratings on 50 banks in the Middle East and North Africa under a new set of criteria, a move that could result…
Arab Monetary Fund says unlikely to offer aid to Europe
ABU DHABI: The Arab Monetary Fund is unlikely to offer any funding assistance to the euro zone because providing loans to unrest-hit countries across the Arab world has priority, Director…
Egypt core inflation falls, urban inflation rises in November
CAIRO: Egypt's core consumer price inflation declined to 7.04 percent on an annual basis last month from 7.6 percent in October, the central bank said on Sunday. Core inflation strips…
After Arab Spring, Israel should change too, says Amr Moussa
VIENNA: This year's Arab Spring uprisings should affect the whole region, including Israel, Amr Moussa, the former secretary general of the Arab League and a candidate for the Egyptian presidency,…
Picasso, royal tapestries in unique show in Romania
Fifty-five tapestries created by the French royal Manufacture des Gobelins and by contemporary artists like Picasso and Miro went on display from Friday in Bucharest, in a world premiere. "A…
Posthumous Winehouse album ‘reflects chaotic life’
A posthumous album by Amy Winehouse, a rough and ready assortment of alternative versions of hits, unreleased tracks and covers, has been hailed as a poignant snapshot of the singer's…