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Saudi oil minister plays down drop in oil price KUWAIT CITY: Saudi Oil Minister Ali al-Nuaimi Thursday played down the drop in oil prices saying this is not the first time crude prices slumped."Prices of oil always go up and down so I really don't know why the big fuss about it this time," Nuaimi told reporters ahead of a regular meeting for oil ministers of the energy-rich Gulf Cooperation Council (GCC) states in Kuwait City.The Saudi minister, whose country pumps over 9.5 million barrels per day, said any measures the Organisation of Petroleum Exporting Countries needs to take regarding the price slump "should be discussed when OPEC meets" in November. Oil prices rose in Asia Thursday a day after hitting a 17-month law after US President Barack Obama vowed to destroy militants in crude producers Syria and Iraq, but analysts said weak global demand and a supply glut capped gains. US benchmark West Texas Intermediate for October delivery ...

Yemen president, rebels reach accord: presidency source SANAA: Yemen reached an agreement with Shia rebels, who have been protesting for weeks in Sanaa, to end the country's latest political impasse, a source close to the presidency said on Thursday."An accord was reached... late on Wednesday" by which "a new prime minister will be named within 48 hours" and fuel prices will be further cut, the source said. In return, the rebels have agreed to "dismantle their protest camps and pull their armed ...
France says will take part in Iraq military air operation, if needed PARIS: France said on Wednesday it would take part in military air action against Islamic State militants in Iraq if necessary, but said that taking any military action against the group in Syria would be done under different "modalities.""In Iraq we will take part in military air action if necessary. The situation in Syria is different" he told students in a speech at the Sciences Po academy in Paris. "Some in the media say France ...
Kerry says Obama speech Wednesday night will lay out battle plan for beating Islamic State BAGHDAD: US Secretary of State John Kerry told reporters in Baghdad that President Barack Obama's speech Wednesday night about his strategy for battling the Islamic State will lay out a clear battle plan."When the world hears from President Obama this evening, he will lay out with great specificity each component of a broad strategy of how to deal with ISIL," Kerry said.Kerry, who is on a Middle East tour to rally countries to an international ...
King hosts 1,400 pilgrims from 70 countries ISLAMABAD: A total of 1,400 Muslim leaders from more than 70 countries will perform Haj this year as guests of Custodian of the Two Holy Mosques King Abdullah, said Islamic Affairs Minister Saleh Al-Asheikh on Tuesday."King Abdullah has instructed us to make arrangements for hosting 1,400 pilgrims from different countries around the world to perform Haj this year as his guests," said Al-Asheikh, Arab News reported.He said the king's gesture reflects his care and support ...
Gun battle in Yemeni capital SANAA: Yemeni soldiers traded gunfire with rebels near a military base at the southern entrance to the capital Sanaa on Tuesday, residents said, hours after soldiers killed at least four Shi'ite protesters outside the cabinet building.A civilian was killed in the gun battle and both soldiers and rebels suffered several injuries, government sources said. The fighting now threatens to bring into the capital a rebellion by Houthi tribespeople that until now been confined to the ...
Yemeni soldiers kill four Shia as protests rage SANAA: Yemeni soldiers opened fire on Shia Muslim protesters trying to storm the cabinet building in the capital Sanaa on Tuesday, killing at least four, a Reuters photographer and medical sources said.The anti-government activists loyal to the Houthi religious insurgent group said dozens were wounded in the bloodiest day of tense demonstrations that have gripped Sanaa for weeks and now threaten to descend into outright conflict.A security source speaking on condition of anonymity said marchers ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln