Brent crude rose above $108 a barrel on Friday on a brighter outlook for China's economy, the world's second largest oil consumer, but worries about the impact of a possible US fiscal crisis capped price gains.
Oman is interested in buying weapons systems from the United States in a deal worth $117m.
The Iraqi committee charged with investigation the cancelled Russian arms deal has confirmed that the contract was rife with corruption. However, it will not announce its findings “as it still lacks evidence that is not yet available.”
Spanish police say they have seized some €28 million ($36.5 million) of assets linked to deposed Egyptian President Hosni Mubarak.
The prospects of a lucrative shopping season in Lebanon are better than last year’s poor holiday period, but some businesses have taken pre-emptive measures, cutting prices early, to ensure they meet their targets.
A Saudi Arabian investment company has set up a joint venture with SAHO, a Siberian grain producer, to ship Russian wheat and barley to the Middle East and North Africa, the two companies have said.
Abu Dhabi National Energy Company (TAQA) has signed a $2.5bn syndicated loan after launching the deal at $2bn in October, the 10 arranging banks have said in a statement.
Qatar Telecom, also known as Qtel, has tapped capital markets with a US$1billion (Dh3.67bn) 10-year bond as it considers expansion in North Africa.