World Bank agrees on power shift to emerging nations
WASHINGTON: US Treasury Secretary Timothy Geithner on Sunday said that World Bank members had agreed to give emerging nations more say in how the bank is run and how its…
Emaar rallies on Q1; mkts up on global outlook
DUBAI: Emaar Properties advanced on Sunday after the developer's first-quarter profit more than tripled, helping Dubai's index end higher for a second session. Most Middle East markets rose, bolstered by…
UAE banks likely to take Dubai World hit in Q2
DUBAI: United Arab Emirates banks are likely to face the brunt of the Dubai World restructuring impact in the second quarter after the central bank told lenders they are not…
Iran found to be the Middle East's second largest market for cosmetics
TEHRAN:Veiled and to some degree hidden from public life, many in the West assume that Iranian women lead largely self-effacing lives. But according to a recent study by an Iranian…
Hot air balloon crashes in Emirates, killing 2
DUBAI, United Arab Emirates: A hot air balloon carrying 14 people crashed early Sunday in the desert south of Dubai, killing at least two. Aviation authorities said the accident happened…
Abbas invited to Washington as US ramps up peace efforts
RAMALLAH: US President Barack Obama has invited Palestinian leader Mahmud Abbas to Washington in May in a fresh bid to relaunch Middle East peace talks, a Palestinian official said Sunday.…
Iran, IAEA meet on nuclear deal, but no breakthrough
VIENNA: Iranian Foreign Minister Manouchehr Mottaki met with UN atomic watchdog chief Yukiya Amano in Vienna on Sunday, but there appeared to be no immediate breakthrough on a stalled nuclear…
Obama proposes allocating 2 pct of Egypt aid to democracy
CAIRO: United States aid to Egypt is expected to remain unchanged in 2011, with the same NGO funding restriction and a projected 2 percent allocated to democracy promotion, according to…
Clashes as Israeli right-wingers march in east Jerusalem
JERUSALEM: Rock-throwing Palestinians clashed with Israeli police on Sunday near a march being held by Israeli right-wingers through a tense neighborhood of annexed Arab east Jerusalem. The fighting took place…
Denmark's 'Little Mermaid' surfaces at Shanghai Expo
Denmark's Little Mermaid sculpture resurfaced to music and fanfare Sunday in the middle of Shanghai's World Expo, a month after leaving her perch in Copenhagen harbor for the first time…