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Egypt's stock market posted its strongest gains in about 10 months, with the benchmark index rallying over 7 percent on Thursday as the peaceful passing of the one-year anniversary of the uprising that ousted former President Hosni Mubarak injected optimism.
The head of Iran's state oil company said Sunday that the price of crude will reach $120 to $150 per barrel, as officials in Tehran prepare to discuss a ban on crude sales to European Union countries in retaliation for an EU embargo.
The International Monetary Fund confirmed Thursday it was sending a mission to Egypt to discuss possible financial aid to the country, even as analysts cautioned that the potential lifeline may not be enough to stem serious economic worries that materialized following former President Hosni Mubarak's ouster.
A top Saudi banking official on Tuesday denied an Israeli media report that hackers from Israel obtained credit card and bank account details of thousands of Saudi citizens, retaliating for an attack on Israeli accounts.
A Saudi oil official said that whether Japan or other countries continue to buy Iranian oil was an "internal matter," reflecting the unease in many nations after the latest U.S. sanctions on Tehran and Iran's threats to choke off the Strait of Hormuz in response.
Egypt's net international reserves plunged by another $2 billion in December, bringing the decline in reserves to 50 percent since the start of 2011, when a mass uprising that drove former President Hosni Mubarak from power battered the economy.
Gulf Arab nations are prepared to offset any potential loss of Iranian oil in the world market, a senior Saudi oil official said as Iranian officials stepped up their rhetoric Wednesday about shutting off a key supply route.
Egypt's benchmark stock index dropped to its lowest level in over a year on Thursday as a deepening political crisis in the Arab world's most populous nation clouded its political future and prompted Moody's Investors Service to push the government's bond rating deeper into junk status.
Drivers passing Tahrir Square in downtown Cairo curse the protesters.
Ratings agency Standard & Poor's on Thursday pushed Egypt's sovereign credit ratings deeper into junk status, citing the country's dire political and economic situation and the increased risk of civil strife.
Reeling from a Taliban suicide bombing that left three of its workers dead, the U.N. refugee agency plans to intensify cooperation with local aid groups to get out the message that its mission in Afghanistan is purely humanitarian, the agency's head said Wednesday.
Afghan forces arrested a man believed to be a prominent Taliban spokesman in eastern Afghanistan on Monday, government officials said.
In an Afghan capital scarred by years of war, a young Afghan woman has bet $1 million that her countrymen could use a little fun.
Egypt's benchmark stock index pared steep losses on Monday after plummeting over 5 percent, as overnight clashes unseen since the revolution that ousted former President Hosni Mubarak sent investors into a panic.
The U.N.'s political chief said Tuesday that Israel and the Palestinians remain far apart on reaching a peace accord but insists "now is time for everyone to give diplomacy a chance."
The world's major industrialized nations pledged Tuesday quick and concrete action with a long-term political and economic impact to support Arab nations as they move along the road to democratic reform after uprisings that toppled authoritarian rulers.
The U.N. political chief says Israel and the Palestinians remain far apart on reaching a peace accord but insists "now is time for everyone to give diplomacy a chance."
Palestinian President Mahmoud Abbas is pressing ahead Tuesday with his diplomatic campaign to gain full U.N. membership, brushing aside heated Israeli objections and a promised U.S. veto as the issue of Palestinian statehood takes center stage with world leaders gathering for the opening of the U.N. General Assembly session.
Palestinian President Mahmoud Abbas is pressing ahead Tuesday with his diplomatic campaign to gain full U.N. membership, as the divisive issue of Palestinian statehood takes center stage ahead of the opening of the U.N. General Assembly session.
The Palestinians brushed aside heated Israeli objections and a promised U.S. veto Monday, vowing to submit a letter formally requesting full U.N. membership when Palestinian President Mahmoud Abbas addresses the General Assembly.
The Palestinians said they will submit an application for full U.N. membership on Friday, the first step in a process to a declaration of statehood that has already sparked a frenzy of diplomatic activity and vows of a U.S. veto in the Security Council.
The Palestinians say they will submit a letter formally requesting U.N. membership after Palestinian President Mahmoud Abbas addresses the U.N. General Assembly on Friday.
Egypt's benchmark stock index fell slightly on Sunday, weighed down by investor unease after the storming of Israel's embassy and protests in Cairo over the weekend. Inflation, meanwhile, eased in August to 8.5 percent on a slower increase in food prices.
The Egyptian Exchange's benchmark index plunged Tuesday, with investors taking their cues from other international markets spooked by fears of a global recession.
A little after 8 a.m., the stones began to fly.
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