Global slowdown, high prices squeeze oil demand: IEA
LONDON: World oil demand will be lower than expected this year and next as economic slowdown and high prices curb consumption, the International Energy Agency (IEA) said on Thursday. The…
OPIC approves $150 mln in financing for Egypt’s Citadel
CAIRO: The Overseas Private Investment Corporation (OPIC), the US government’s development finance institution, approved Wednesday a $150 million (LE 900 million) financial package for Egypt’s Citibank that will go to…
Egypt urban inflation slows to 7.1 pct in October
CAIRO: Egypt's urban consumer inflation slowed to 7.1 percent on an annual basis last month from 8.2 percent in September, Egypt's state statistics agency said on Thursday. The urban consumer…
Regulator looks deeper into Swiss bank dictator assets
ZURICH: Swiss financial regulator FINMA has identified control problems at four banks following an audit of accounts held by political leaders from unstable countries that was triggered by the freezing…
Cashing in on Egypt’s black cloud
By Maha El Dahan CAIRO: After the rice harvest each autumn, Egyptians take a deep breath and brace for the "black cloud," a thick layer of smog from burning rice straw…
Blasts hit gas pipeline between Egypt, Jordan, Israel
CAIRO: Saboteurs blew up the gas pipeline between Egypt, Israel and Jordan on Thursday in Northern Sinai using remote controlled bombs, forcing it to shut down, Egyptian security sources said.…
Iran defiant on nuclear program, warns Israel
TEHRAN: Iran vowed Wednesday it "will not budge an iota" from its nuclear path despite a new UN report hardening suspicions it is seeking atomic weapons, as an Iranian general…
Arabs urged to act as Syria death toll soars
DAMASCUS: Arab League on Tuesday came under mounting pressure to act after Syria's regime failed to implement its peace blueprint and tightened a bloody siege on the flashpoint city of…
UN Council deadlocked on Palestinian bid, says report
UNITED NATIONS: The UN Security Council is deadlocked on whether to accept or reject Palestine as a member of the United Nations, according to a draft report of a key…
New Libya faces mountain of grievances
TRIPOLI: Moammar Qaddafi's intelligence service killed Nadia Seif's husband for plotting to assassinate the dictator, seized her villa, then held her for seven months in a tiny cell where she…