US plans $10.4bn Gulf missile sales
Bush administration reveals plans to sell advanced anti-missile systems to UAE and Kuwait.

UAE insists dollar peg here to stay
Central bank governor Al-Suweidi says dollar peg to remain unchanged for 'foreseeable future'.

Oil calms after Opec output news
Prices retreat from session highs after initial surge on news Opec will not raise production.

Green groups dub Saudi 'fossil of the day'
Arab kingdom named and shamed for environmental stance at UN climate change conference.

Atkins blows competition away at MEP awards
Engineering and design consultancy picks up four awards including night's top honour.

Depegging - 'just do it'
The question is not if to depeg or revalue, but when and how. And the answers are to a basket of currencies - and now.

Islamic finance certificate launched
First global qualification of its kind to help establish consistency in the rapidly growing sector.

Opec refuses to raise production
Oil cartel says it is already pumping enough crude to meet demand, prices surge above $90 a barrel.

China firm bags $940mn Iraq power deal
Shanghai Heavy Industry to construct electricity plant 150km south of Baghdad.

Iran needs $160bn energy investment
Oil minister says sanctions will not prevent country from attracting investments to develop sector.

GCC-wide power grid on track
Phase one of GCC plan to link states' electrical grids will be finished by end of 2008, Saudi minister says.

US Iran attack unlikely, says Blix
Former UN inspector says NIE report excludes any military action against Tehran in near future.