Middle East Economy
Euro Zone Summit, GAAR Guidelines Boost Indian Markets; BSE Sensex Reaches Two-Month High
June 29 2012 7:31 AM
India's BSE Sensex soared more than 430 points or 2.59 percent to a two-month high of 17448.48 Friday on positive global and domestic cues. The 30-share benchmark index opened at 17134.61 and reached a high of 17448.48 before closing down at 17429.98.
Iran Oil Sanctions: China Gets Exemption From White House; U.S. Will Boost Monitoring Of Banks
June 28 2012 4:05 PM
Following an extended game of chicken, the Obama administration granted China and Singapore an exception to the Iranian oil sanctions, senior White House officials said Thursday.
EU Insurance Ban Picks Off South Korea From Iran's List Of Oil Importers
June 26 2012 6:21 PM
South Korea announced it will halt imports of Iranian crude oil as the European Union's ban on insuring oil shipments from Iran comes into effect toward the end of the month.
S. Korea Bans All Iranian Oil Imports From July
June 26 2012 10:27 AM
The world's fourth largest importer of Iranian crude added it would seek supplies from elsewhere, rather than follow the example of Japan and offer sovereign insurance guarantees for tankers shipping Iranian crude.
Election of Muslim Brotherhood's Morsi Will Likely Improve Egypt?s Finances
June 25 2012 1:18 PM
With the victory of the Muslim Brotherhood candidate in Egypt's presidential runoff, the world's largest Arab nation appears set not just for a transition to democracy but also for economic growth, Egyptian officials said Monday after the election results were announced.
Europe Has Three Days, Not Three Months, to Avoid 'Fiasco': Soros
June 25 2012 12:05 PM
Multibillionaire financier George Soros, who is quickly becoming an éminence grise on the topic of the euro zone financial crisis, said in a televised interview Monday that the leaders of Europe had three days to resolve their disagreements on the appropriate way to move forward in anticipation of a summit Thursday.
'Vicious Cycles' Continue To Go 'Round And 'Round: BIS
June 24 2012 11:13 PM
Five years into the most significant global financial crisis since the 1930s, the world's leaders have formulated neither the fiscal policies nor the monetary policies required to deal with it, according to the Bank for International Settlements' 82nd Annual Report, which was released Sunday.
Azerbaijan - A Repressive, Corrupt Country That The West Loves
June 23 2012 1:40 PM
With all of its contradictions, Azerbaijan is a complex country to fully figure out: Its tangled friendships and autocratic policies are often puzzling as are its relations with the West. But its obsession with oil is as undiluted and unwavering as anything the country has ever done.
- World Wealth Report 2012: Asians Top List Of Millionaires
June 21 2012 4:54 AM
The millionaires in Asia outnumber their counterparts in North America for the first time while the overall financial wealth of high net worth individuals (HNWI) declined across all regions except the Middle East, according to a new study.
27 Million Slaves In The World: Hillary Clinton
June 20 2012 1:01 PM
The State Department released its report ahead of the 150th anniversary of President Abraham Lincoln?s Emancipation Proclamation, which freed the slaves in the U.S. South in 1863.
Oil Rises After OPEC Maintains Current Production Ceiling
June 14 2012 2:56 PM
Brent crude futures turned positive while U.S. oil extended gains on Thursday after news that OPEC had agreed to keep its collective oil output ceiling unchanged for the second half of the year at 30 million barrels per day, according to a delegate to the conference.
Nokia?s 10K Job Cuts, Management Changes Needed To Restore Competitiveness
June 14 2012 5:10 AM
Finland-based cell phone manufacturer Nokia announced Thursday that it plans to cut 10,000 jobs globally as part of its revamping measures.