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Iraqi Prime Minister Nouri al-Maliki said Tuesday he was disappointed that neighboring countries have not done enough to his war-torn nation and urged them to stop terrorists from infiltrating over their borders
Kuwait's leader dissolved parliament on Wednesday and called for early elections, after the Cabinet resigned this week following a power struggle with the government.
The Gulf nations are experiencing a major construction boom, as their leaders make definite steps to encourage development.
Imad Mughniyeh was a master of deception. He was also Hezbollah's chief of security and its strategist. His alleged role in bombings and kidnappings earned him a place on the "Most Wanted Terrorists" list of the United States.
It was back in December at a summit in Qatar that members of the Gulf Cooperation Council (GCC) decided to weather falling interest rates and soaring inflation and retain the dollar-peg.
Stock losses accelerated Tuesday afternoon as investors bet that Citigroup's steep quarterly loss and a big drop in retail sales are further signs of the risk of an economic recession.
President Bush arrived Friday at the first of five Arab nations on his Mideast mission to seek support for an Israeli-Palestinian peace agreement.
A federal court has ordered a Kuwait-based contractor to pay nearly $5 million in damages to the family of a U.S. military officer killed in Iraq -- a rare court decision holding a contracting company accountable for its actions in the war.
As recently as a few years ago, flying around the Middle East was an expensive exercise. Unlike the U.S. and Europe, there were no low-cost carriers competing for passengers on price. How times have changed.
Kuwait has re-appointed electricity and water minister, Mohammad Al-Olaim, as acting oil minister following Bader Mishari al-Humaidhi's resignation on Monday after just one week in post.
Iraqi Prime Minister Nouri al-Maliki said Tuesday he was disappointed that neighboring countries have not done enough to his war-torn nation and urged them to stop terrorists from infiltrating over their borders
Kuwait's leader dissolved parliament on Wednesday and called for early elections, after the Cabinet resigned this week following a power struggle with the government.
The Gulf nations are experiencing a major construction boom, as their leaders make definite steps to encourage development.
Imad Mughniyeh was a master of deception. He was also Hezbollah's chief of security and its strategist. His alleged role in bombings and kidnappings earned him a place on the "Most Wanted Terrorists" list of the United States.
It was back in December at a summit in Qatar that members of the Gulf Cooperation Council (GCC) decided to weather falling interest rates and soaring inflation and retain the dollar-peg.
Stock losses accelerated Tuesday afternoon as investors bet that Citigroup's steep quarterly loss and a big drop in retail sales are further signs of the risk of an economic recession.
President Bush arrived Friday at the first of five Arab nations on his Mideast mission to seek support for an Israeli-Palestinian peace agreement.
A federal court has ordered a Kuwait-based contractor to pay nearly $5 million in damages to the family of a U.S. military officer killed in Iraq -- a rare court decision holding a contracting company accountable for its actions in the war.
As recently as a few years ago, flying around the Middle East was an expensive exercise. Unlike the U.S. and Europe, there were no low-cost carriers competing for passengers on price. How times have changed.
Kuwait has re-appointed electricity and water minister, Mohammad Al-Olaim, as acting oil minister following Bader Mishari al-Humaidhi's resignation on Monday after just one week in post.
RAPID CHANGE, REAL INVESTMENTS -- A VIEW FROM CITYSCAPE CONFERENCE. DUBAI
The declining dollar, surging oil prices, and exploding growth across the Persian Gulf are causing inflation levels to rise. Kuwait has already abandoned the dollar. And some analysts say the rest of the GCC may have to do the same to fight inflation. But do the Gulf banks agree? And how far do they think switching to a basket of currencies will bring down prices?
This week's business news from the Middle East: Borse Dubai responds to LSE's merger with Italian stock exchange; Kuwait hospitality group buys UK bakery chain; Doha property company signs deal for exclusive French hotel; first direct flight from Middle East to South America.
Iran's acting oil minister said Monday he's convinced there are ample supplies of crude on world markets, joining Kuwait and Libya in signaling that OPEC will maintain its current output targets at this week's meeting.
A U.S. Army major, his wife and sister were indicted Wednesday in a suspected scheme to accept millions of dollars in bribes for Defense Department contracts in Iraq and Kuwait.
"We're one of the country's biggest exporters of marshmallows. We also sell our own lines of gourmet pretzels and popcorn to 41 countries. This means that we have to be pretty creative at tapping i...
U.S.-led coalition and Iraqi forces on Saturday were searching for five Western security contractors seized in southern Iraq as well as hostages taken in a mass kidnapping at a Baghdad research institute this week.
Coalition and Iraqi troops in southeastern Iraq continued their hunt Friday night for five Western security contractors abducted the day before.
Kuwait upset Australia 2-0 in the fourth round round of Asian Cup qualifiers in Kuwait City on Wednesday to remain in contention for a place in next year's finals.
In an effort to tighten security in the Iraqi capital, U.S. troops will be redeployed from Kuwait to Baghdad, Iraq, "over the next few days," Pentagon officials said Friday.
FEB. 3, 2006 A look at hot spots, economic fault lines, and events that might have an impact on global risk.
Kuwait's parliament has confirmed Sheikh Sabah al-Ahmad al-Sabah as its new emir, ending the political crisis that erupted after the parliament removed Sheikh Saad al-Abdullah al-Sabah last week for health reasons.
Kuwait's Cabinet on Tuesday recommended the country's prime minister, Sabah al-Sabah, as the new emir, the country's justice minister said.
Kuwaiti Emir Sheikh Jaber Al-Ahmad Al-Sabah, a key U.S. ally in the war against Iraq and a notable supporter of women's rights in the tiny Gulf country, died Sunday, according to a government statement. He was 77.
Farris Hassan, the Florida teen who traveled alone to the dangerous city of Baghdad, is still in Kuwait and will be there until next week, his sister told CNN.
The airline industry is in trouble in the United States. But elsewhere, it's blue skies and big opportunity--especially for niche players in regions with only one major airline. Launching at the en...
The Kuwaiti parliament has voted to give women the right to vote and to run for office -- if they observe Islamic laws.
Oil prices traded nearly flat on Tuesday as dealers anticipated the U.S. government's next weekly petroleum supply report.
The purported leader of a terrorist cell in Kuwait died in custody Tuesday, a Kuwaiti security source told CNN.
Kuwaiti security forces Monday arrested the "leader of a terrorist cell" and killed four Islamic militants in a firefight south of Kuwait City, a top Kuwaiti security source told CNN.
A gun battle between Kuwaiti security forces and Islamic militants left three people dead Sunday in Kuwait City, an Interior Ministry official said.
A question asked in Kuwait last week set off a political firestorm in Washington this week. It's a political Play of the Week, on delayed response.
Coach Arie Haan faces the axe after China suffered a devastating exit from Asian World Cup qualifying on Wednesday despite thrashing Hong Kong 7-0.
Seven truck drivers taken hostage in Iraq over a month ago have been released, according to their employer, Kuwait and Gulf Link Transport company.
A Pakistani man who had been taken hostage by insurgents in Iraq has been released, Pakistani officials said Friday.
Former Iraqi dictator Saddam Hussein appeared Thursday in a Baghdad court to hear preliminary charges against him for crimes during his rule.
U.S. blue-chip stocks rallied Wednesday, fueled by a drop in crude oil prices one day ahead of a key OPEC meeting.
Kuwait's parliament will investigate whether the government misused public funds when it signed a contract with Halliburton Corporation to supply fuel to U.S. troops in Iraq.
Kuwait's parliament agreed Wednesday to investigate whether the government misused public funds when it signed a contract with Halliburton Corp. to supply fuel to U.S. troops in Iraq.
U.S. Defense Secretary Donald Rumsfeld has ordered a 90-day review into allegations of sexual assaults against female soldiers in Iraq and Kuwait.
Halliburton subsidiary Kellogg, Brown and Root (KBR) will refund the U.S. government $27.4 million for potential over-billings at five dining halls in Iraq and Kuwait, according to a Pentagon statement.
Muslims are converging on the holy city of Mecca in Saudi Arabia for the Hajj, Islam's annual pilgrimage to the birthplace of the Prophet Mohammad.
Normally Kuwait's Burgan oilfield isn't much to look at: acres of rust-colored pipe, a few giant fuel tanks, and the occasional natural gas flare burning in the distance. There are no rising and fa...
Harold Nelson, an Army reservist, knows all too well the cost of patriotism. In 1991 this optometrist from Louisville was just opening his private practice when the Army tapped him to help with Ope...
Longtime readers recall--rather stridently, actually--a discussion that started last spring in a column called "Can Women Do Business Overseas?" (May 11, 1998). It prompted such a tsunami of respon...
Encouraged by a recent string of stronger economic data, forecasters are growing more confident that 1993 will produce a solid expansion. Can we count on them to be right? Most failed to foresee ei...
Don't let the title of General H. Norman Schwarzkopf's autobiography, It Doesn't Take a Hero (Linda Grey/Bantam Books, $25), fool you. In an age sorely lacking heroes, Stormin' Norman is the real t...
The following brief exam memorializes the 15th anniversary of Keeping Up (launched in the December 1976 issue of the old monthly FORTUNE) and offers longtime readers a chance to check on whether th...
On Thursday, Aug. 15, the stock market was shaken by news that the scandal surrounding Salomon Bros., a leading investment bank charged with rigging Treasury securities auctions, was far more serio...
Whatever may be happening to the merely rich, the extremely rich are getting a little richer. This year the average billionaire's net worth is $2.7 billion, just $100 million more than it was in 19...
Singapore has surfaced as the Kuwait of Southeast Asia: a small country (pop. 2.7 million) with billions of dollars of hard cash for investment overseas. Conservative estimates place the republic's...
With America's highways and bridges crumbling and Kuwait's infrastructure in a shambles, U.S. construction giants are poised to profit hugely from a multibillion-dollar rebuilding boom. Among those...
An international horde of would-be fixers is hoping to gain admission to Kuwait to grab pieces of the cleanup too paltry for the likes of AT&T, Bechtel Group, and Dresser Industries. While the big ...
MANAGING/COVER STORY 36 THE NEW EXECUTIVE UNEMPLOYED Cost cutting, downsizing, restructuring -- it all boils down to shrinking payrolls, and it has reached the executive ranks with a vengeance. Eve...
REBUILDING Kuwait's once thriving, Western-style capital of one million people and its immense oil drilling, refining, and petrochemical industry could spell years of prosperity for American engine...
WINNING THE PEACE/COVER STORIES 30 NOW TO WIN THE PEACE America emerges from the war in the Gulf as the world's only superpower. That doesn't make it Superman. by Thomas A. Stewart
Oh, those foolish optimists! Had anyone said three months ago that the 28- nation coalition would steamroller Saddam, that Wall Street's bull would be roaring, interest rates still falling, and the...
After the last bombs have fallen and the shooting stops, the sounds of war in Kuwait will be replaced by the happier din of construction crews, belching tractors, and rumbling cement trucks. Milita...
WHO WILL LEAD the way, business or the consumer? Each spurs the other, of course -- that's how it goes in the circular world of economics. But look to business to start the recovery rolling, not th...
You see them everywhere, the bows and streamers that proclaim support for U.S. troops in the Mideast. Manufacturers are racing to keep pace with demand for yellow ribbon. C.M. Offray & Son, a Chest...
Weighing heavily on all Americans, the Gulf war has changed the economic environment. The most recent straws in the wind suggest that the worst of the decline is over. But the uncertainties and anx...
THE WHITE HOUSE says the battle plan of the U.S.-led coalition is ''a long plan.'' It had better be, and not only because Iraq's vast, chemically equipped army will be tough to root out. The dazzli...
LET'S ASSUME the best possible outcome in the Middle East -- a brief conflict, restoration of Kuwait, and little or no serious damage to the oil fields. Here's what will happen: Oil prices will rem...
The remaining shreds of President Gorbachev's image as a reformer seem to have vanished. In a letter to the Moscow News, his top economic adviser, Nikolai Petrakov, described the Communist Party cr...
What a relief. In November, for the first time since Iraq's invasion of Kuwait in early August, both stock and bond funds posted positive returns. The average stock fund nearly matched the superb 6...
When the army of Iraq crushed tiny Kuwait, did it also squash OPEC, the price- fixing cartel that both countries helped create back in 1960? OPEC agreed to waive the production quotas set in July a...
Stock and bond fund returns diverged in October for the first time since the August invasion of Kuwait. Continued signs of a creaky economy helped nudge stock funds slightly lower, but the same evi...
Are oil stocks about to buck the market's malaise and rally? That's the contention of Paine Webber oil analyst Bryan Jacoboski, who just two years ago was known as Bryan the Bear for his downbeat a...
Have climbing oil prices and the budget fiasco made the economy more vulnerable to a recession? No question about it. But in FORTUNE's opinion neither event has dealt a mortal blow to the expansion...
When the price of crude oil recently passed $40 a barrel, most people blamed panicky traders and greedy speculators. Indeed, fear of war has helped push up prices from around $20 since Iraq invaded...
The Mideast crisis and inflation fears may have pushed up interest rates, but CD investors wouldn't know it. Since Iraq's Aug. 2 invasion of Kuwait, rates on one- and five-year Treasuries have rise...
-29 October -24 September -9 Year ago
SALMON swimming upstream to spawn face the same kind of challenge as stock pickers in the three years through August 31, 1990. Though it soared to new highs in early summer, the market finished dow...
With a fleet of 700 buses that burn about 35,000 gallons of diesel fuel a day, the Metropolitan Atlanta Rapid Transit Authority is sitting pretty over oil prices. Two months before Iraq invaded Kuw...
No matter what eventually happens in the Arabian sands, the markets are convinced that the nearly 80% rise in oil prices during August means lower corporate profits, slower growth and higher inflat...
-24 -27 -12 September August Year ago
Iraq's invasion of Kuwait spelled trouble for mutual funds in August. For the average stock fund, it was the ugliest month since October '87; for bonds, the worst since the bond-bashing spring of t...
After Iraq invaded Kuwait last August, my September tour in nearby Turkey looked like a total loss -- $2,100. The Turkish tour operator claimed it was safe to travel. I wasn't so sure. Yet I manage...
Faster than you can say $30 a barrel, Saddam Hussein's invasion of Kuwait transformed the prevailing attitude on the economy from guarded optimism to low-grade anxiety. Growth had turned feeble eve...
Shareholders lost a lot of confidence as well as money in the August stock market rout triggered by Iraq's takeover of Kuwait. Saddam Hussein's tanks crushed such investment canons as the oil glut,...
What happens when you freeze Kuwaiti assets to keep them away from Iraq's Saddam Hussein? First you have to find them. The U.S. Treasury admits that will take weeks. Estimates of the wealth run ove...
The U.S.-led embargo of Iraq and Kuwait, which together produced 20% of OPEC's crude exports last year, will jolt some of the world's leading oil companies and enrich others. Starting on this page ...
THE CONFRONTATION in the Persian Gulf conjures a host of horrible prospects: Shuttered factories. Gasoline lines. Blood in the sand. It might not come to that, of course. Iraq could yet withdraw fr...
When Iraqi forces overran Kuwait in early August, some fund investors beat a quick retreat to cash. It's understandable: the resulting surge in oil prices was all too reminiscent of 1973, when an A...
If you've been waiting for mortgage rates to dip before buying that new home or vacation property, you may be out of luck. The outlook is for rates to hold steady or rise for the rest of this year....
Never trust a summer romance. In mid-July the Dow Jones industrial average was flirting with 3000. By early August that magical number was no more than a fading memory. First came earnings disappoi...
Iraq's blitzkrieg on the Arabian Peninsula rudely reminds us that, even after the Cold War has ended, we live in a dangerous world. And the remarkable vision of the U.S. and the Soviet Union quickl...
SCATTERED from Amman to Atlanta, they form a global community of wealth and power united by a single cause. They are the Palestinian entrepreneurs, and no group has done more to press Yasser Arafat...
Seemingly born to dealmaking as much as to royalty, Sheikh Ali Khalifa Al- Sabah, 41, a member of the dynasty that founded Kuwait in 1756, has built state-owned Kuwait Petroleum Corp. into the Midd...
Okay. Gasoline prices are up about 10% to 15% from those glorious less-than- a- buck levels you enjoyed last summer. But look on the bright side. You could be filling up in Prague. Americans actual...
ALI KHALIFA AL-SABAH, 41, Kuwait's oil minister, after OPEC agreed to try to push oil prices up to $18 a barrel: ''We shouldn't be frightened if the companies say, 'Sorry boys, we will not be picki...
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