Arab Spring disrupts energy investment, says IEA
PARIS: The Arab Spring has disrupted investment plans in oil and gas projects as some governments in the region have shifted their focus to meet increasing demands from their population,…
Gold drops as macro worries favor dollar
LONDON: Gold was set for its largest one-day fall in two weeks on Tuesday after US bank Goldman Sachs reported a quarterly loss, which coupled with evidence of slowing Chinese…
Egypt’s FIHC buys 12,000 T soy oil, cancels sun oil-trade
CAIRO: Egypt's state-owned Food Industries Holding Company bought 12,000 tons of soybean oil in a tender, a trader said on Tuesday. The company cancelled its sunflower oil tender because of…
Algeria sticks to Djezzy plan after Vimpelcom visit
ALGIERS: Algeria is sticking to its plan to nationalize Orascom Telecom's local mobile phone unit, the finance minister said on Tuesday, after he met executives from would-be buyer Vimpelcom. "I…
Death of officer key to Egypt prison breaks
CAIRO: A senior prison officer was killed by his subordinates as he tried to stop mass prison breaks during Egypt's popular uprising against President Hosni Mubarak, an Egyptian rights group…
Saudi’s Savola buys two Egyptian companies
JEDDAH: Saudi Arabia's Savola Group has signed an agreement to buy a 78 percent stake in two Egyptian firms for LE 557 million ($98 million) as it expands its regional…
Egypt cbank to offer LE 7 bln in repos
CAIRO: Egypt's central bank said it will ask for LE 7 billion ($1.17 billion) in seven-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.25…
Kuwaiti Foreign Minister resigns: newspapers
KUWAIT: Kuwait's Foreign Minister Sheikh Mohammad Al-Salem Al-Sabah has submitted his resignation, without giving a reason for the move, local newspapers reported on Tuesday. The Gulf Arab state is locked…
Yemen’s Nobel peace laureate says UN must act
DOHA: Yemen's Nobel Peace Prize winner Tawakkul Karman said the UN must act "immediately and decisively" to halt a deadly government crackdown on protesters calling for President Ali Abdullah Saleh…
Julian Barnes leads Booker Prize finalists
It has insults, rivalries and bitter accusations. The battle for Britain's most prestigious literary award is proving to be a page-turner. Five judges, led by a former British spymaster, are…