Economy

DUBAI, 3 November 2005 — The Dubai Gold and Commodities Exchange (DGCX) said on Tuesday it had agreed with the Chicago Board of Trade (CBOT) to look into ways of technical cooperation.

DUBAI, 3 November 2005 — A Dubai court has sentenced six investors and brokers to three years in jail for conducting bogus trades on Dubai Islamic Bank shares in August.

KUWAIT CITY, 3 November 2005 — The Central Bank of Kuwait yesterday raised the discount rate by 0.25 basis points to six percent, the fifth increase this year following a similar step by the US Fed

TEHRAN, 3 November 2005 — Iranian President Mahmoud Ahmadinejad nominated a little-known conservative politician with no industry experience as oil minister of the world’s fourth biggest crude pro

AMMAN, 2 November 2005 — Jordanian banks yesterday launched JODIBOR, an interbank benchmark interest rate for guiding transactions in Jordanian dinar, according to the Association of Banks in Jorda

DUBAI, 1 November 2005 — Oil prices are expected to remain as high as $60 to $70 a barrel in the next few years because of strong global economic growth and refinery bottlenecks in some industrial

JEDDAH, 1 November 2005 — Saudi stocks continued to surge for a third consecutive day and reached new highs yesterday as the Tadawul All Share Index (TASI) recorded over 600 points increase since S

JEDDAH, 1 November 2005 — A Saudi businessmen delegation is visiting Belgium on Nov.

RIYADH, 1 November 2005 — The value of standing loans by specialized loan institutions had decreased by 7 percent at the end of 2004 to reach SR142.47 billion compared to SR153.37 billion in 2003,

JEDDAH, 1 November 2005 — Jeddah Municipality decided to study 160,000 applications for residential grants submitted in 1418h (1997), reported Al-Madinah newspaper. Dr.