JERUSALEM (AFP) - Bank of Israel Governor Stanley Fischer announced he was in the race to become the next head of the International Monetary Fund.
Fischer, 67, is a widely respected economist credited with successfully guiding Israel's economy through the global crisis.
He is nevertheless something of a dark-horse candidate, as France's Christine Lagarde and Mexico's Agustin Carste [...]
VIENNA (AFP) - The OPEC oil cartel mulled a possible output boost Tuesday on the eve of a crucial production meeting against a background of deep divisions over Libya and consumer calls for lower prices.
The Organization of the Petroleum Exporting Countries (OPEC), whose dozen member countries together pump 40 percent of the world's oil, meets on Wednesday for an output decision whi [...]
TUNIS (AFP) - The World Bank and African Development Bank on Tuesday pledged $1 billion (673 million euros) to support Tunisia in its transition following its popular uprising.
"The African Development Bank (AfDB) and the World Bank pledged $1 billion to support Tunisia after the presidents of both institutions met... in Tunis, where they discussed modalities for intensifying their [...]
KUWAIT CITY (AFP) - Dubai appeals court on Monday ordered a UAE bank to repay a deposit worth $250 million plus interest to Kuwait's Global Investment House, ending a long dispute, the Kuwaiti firm said.
The dispute dates back to August 2008 when Global placed the deposit at the Dubai branch of National Bank of Umm Al-Qaiwain (NBQ), the company said in a statement.
The court also o [...]
TEHRAN (AFP) - Chinese companies, widely present in Iran thanks to the vaccum created by the departure of Western firms, dominated the Iranian oil, gas and petrochmemical exhibition that began Friday, an AFP reporter said.
"This year, 166 Chinese companies are present at the fair compared to 100 companies last year," a senior oil ministry official said.
"The number of foreign compa [...]
WASHINGTON (AFP) - Spreading social unrest in the Middle East and North Africa is putting pressure on economic growth in several countries in the region, the International Monetary Fund warned on Monday.
The IMF revised down its economic growth projection for the region to 4.1 percent this year, from 4.6 percent in January, when a wave of uprisings began spreading across the Arab wo [...]
WASHINGTON (AFP) - The economy of oil and gas exporter Qatar -- the world's wealthiest country per capita -- will grow a breathless 20 percent in 2011, the IMF said Wednesday.
"Qatar has weathered the global financial crisis exceptionally well, reflecting the swift and strong policy response by the authorities," the International Monetary Fund said about the country of 1.7 million people. [...]
RIYADH (AFP) - Saudi shares dived 6.8 percent to a 20-month low on Tuesday amid panic sell-off by investors concerned over unrest that has hit several Arab countries, traders and analysts said.
The Tadawul All-Shares Index (TASI) shed about 403 points to close at 5,538.72 points, the lowest level since mid-July 2009, with all the 145 listed companies ending the day in the red.
At one sta [...]
BAGHDAD (AFP) - Iraq's oil exports and revenues from crude sales in January hit their highest levels since the 2003 US-led invasion which ousted Saddam Hussein, the oil ministry announced on Wednesday.
Iraq exported a total of 67 million barrels of oil last month, generating $6.082 billion in income at an average price of $90.78 a barrel, according to figures published by the ministry.
" [...]
MUSCAT (AFP) - Oman has raised the minimum wage for nationals working in the private sector from $364 to $520, as protests sparked by unemployment and poverty spread to several Arab countries.
The cabinet has "decided to raise the minimum wages for national workers in the private sector to 200 riyals per month" on the orders of Sultan Qaboos, state news agency ONA said late on Tuesday.
Before [...]
Passengers jump out of plane in India after bad landing
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