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Egypt's GB Auto sees net profit doubling in Q2

Egypt's GB Auto expects to double its profit in the second quarter of 2010 and plans to export buses to Middle Eastern and European markets by the end of 2010, executives said on Thursday.

FAO forecasts 4% rise in global rice output

The United Nations' Food and Agriculture Organization (FAO) has forecasted 4% increase in the global rice output this year with the expected production of 643 million tons of rice in Asian region.

Oil at $65 a barrel may sound alarm bells for OPEC

Oil ministers from several OPEC nations played down on Saturday a sharp fall in prices, but Kuwait said another $10 drop may force the group into action.

Azerbaijan, Turkey reach gas deal

Azerbaijan's state oil company SOCAR said Thursday that an agreement has been reached with Turkey concerning the price of Azerbaijani gas and its transit through Turkish territory. The new agreement will enable the smooth functioning of the Nabucco gas project.

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IEA hikes global oil demand estimate

The International Energy Agency (IEA) on Tuesday upwardly revised global oil demand forecast for this year by 30,000 barrels a day. In its latest oil market report, the Paris-based IEA said world oil demand will probably reach 86.60 million barrels per day this year, an increase from 84.93 million in 2009. Non-OPEC output is predicted to rise 220,000 barrels per day to 52 million barrels per day. Meanwhile, total OPEC production declined in March.

World oil demand to hit record high this year

Global oil demand will hit a record high this year, the International Energy Agency said on Tuesday, revising up consumption estimates as the world economy recovers from recession.

Group sees U.S. exports to Arab countries rebounding

U.S. exports to Arab countries in the Middle East and North Africa are forecast to grow almost 20 percent this year to a record $75 billion, fueled by big infrastructure projects and resurgent consumer demand, according to a new private sector report.

Gazprom Neft urges Iraq to clear mines near Badra well

International consortium led by Gazprom Neft, the oil arm of energy giant Gazprom, has requested Iraqi authorities to help clear mines at the Badra oil deposit, the Iraqi media reported on Sunday.

IEF to discuss price volatility, demand outlook

The International Energy Forum (IEF) will discuss major industry concerns including oil-price volatility and the outlook for supply and demand at is ministerial conference starts here Tuesday. The world's largest forum of energy producers and consumers, accounting for more than 90 percent of global oil and gas supply.

SEC says Daimler made $56 million in bribe payments

Car and truck manufacturer Daimler AG allegedly earned $1.9 billion in revenue and at least $91.4 million in illegal profits from transactions tainted by bribes, according to the U.S. Securities and Exchange Commission.

U.S. charges Daimler with violating bribery laws

German car and truck maker Daimler AG was charged on Tuesday with violating U.S. bribery laws by showering foreign officials with millions of dollars and gifts of luxury cars to win business deals.

Allawi leads Maliki for first time in Iraq count

Former Prime Minister Iyad Allawi edged past Iraqi Prime Minister Nuri al-Maliki on Tuesday in results from Iraq's fragmented March 7 vote that may lead to months of political bargaining and create a risky power vacuum.

U.S. transfers prison, 2,900 ex-insurgents to Iraq

The U.S. military handed over a $107 million prison and nearly 3,000 inmates to the Iraqi government on Monday as it prepares to leave Iraq seven years after ousting Saddam Hussein.

Iraq's Maliki risks Sunni ire if he shuns Allawi

Iraq's Shi'ite Prime Minister Nuri al-Maliki may get first go at forming a government, early election results show, but Sunnis will fume if he cuts out his secular rival Iyad Allawi, the man most of them voted for.

Avatar makers consider sequel, other 3D projects

Hollywood producer Jon Landau said on Sunday he and director James Cameron were considering a sequel to 3D blockbuster Avatar among several new projects.

Alice leads box office, as Green Zone flops

Alice in Wonderland raced to a $430 million haul at the worldwide box office on Sunday, while Matt Damon's new Iraq war conspiracy thriller Green Zone was one of the year's first big flops.

Iran arrests 30 over U.S.-linked cyber ring: report

Iran has arrested 30 people suspected of belonging to a U.S.-linked cyber network gathering information on Iranian nuclear scientists and sending people abroad for training, a news agency reported on Saturday.

British hostage endured mock executions in Iraq

British computer expert Peter Moore, held captive in Iraq for 2-1/2 years until his release in December, has said he was tortured and subjected to mock executions by a well-trained kidnap gang.

Iraq's election race tight as results delayed again

Prime Minister Nuri al-Maliki had a modest lead over rival Shi'ites, partial results from Iraq's tight election race showed on Friday, but a secularist challenger remained far ahead among Iraqi Sunnis.

Exxon boosts 2010 capital spending to $28 billion

Exxon Mobil Corp will increase capital spending nearly 4 percent this year to $28 billion in part as the largest U.S. oil company seeks to increase its share of the global market for natural gas.

Exxon Mobil boosts 2010 capital spending 4 percent

Exxon Mobil Corp will increase its capital spending nearly 4 percent this year to $28 billion in part as the largest U.S. oil company seeks to increase its share of the global market for natural gas.

Ahmadinejad, Gates trade barbs in Afghanistan

Iranian President Mahmoud Ahmadinejad and Defense Secretary Robert Gates traded barbs on Wednesday during briefly overlapping visits to Afghanistan, where Washington has troops at war but Tehran has growing clout.

First Iraq election results to be released Wednesday

Preliminary results from Iraq's parliamentary election will be released on Wednesday, an electoral commission official said on Tuesday.

Turnout for Iraq election solid at 62 percent

Turnout in Iraq's parliamentary election was 62 percent, higher than in last year's provincial ballot, despite attempts by Sunni Islamist insurgents to disrupt the vote with attacks that killed 39, officials said on Monday.

Turnout for Iraq election solid at 62 pct

Coming to Israel, Biden flags U.S. support vs Iran

The Obama administration has boosted U.S. defense ties to Israel and will close ranks with its ally against any threat from a nuclear-armed Iran, Vice President Joe Biden said on Monday ahead of a trip to Israel.