Tehran / AFP Iran used its annual Army Day parade on Sunday to showcase parts of a long-awaited air defence system ordered from Russia, a move likely to irk critics of the arms deal. The S-300 system has been on order since 2007 but Russia postponed the sale three years later after the UN Security Council passed a resolution ...

  Addis Ababa/ AFP Armed men from South Sudan have killed around 140 people and kidnapped a number of others in a cross-border raid into Ethiopia, the Ethiopian government said on Sunday. Ethnic Murle gunmen “attacked near Gambella and killed close to 140 people. They also abducted some of them,” Ethiopian foreign ministry spokesman Tewolde Muluteg said. The Murle, a ...

Kano / AFP Nigeria’s security services have hailed the arrest of the leader of the Boko Haram splinter group Ansaru, Khalid Al Barnawi, saying it will lead to them to other senior commanders. “The arrest of Barnawi is a huge success and will have a profound effect on counter-terrorism operations in Nigeria and beyond,” one security source said. “He is ...

  Now that Secretary of State John Kerry has become the highest-ranking American official to visit Hiroshima, the door has been opened for U.S. President Barack Obama to make a far more momentous decision to visit the site of the American atomic bombing during his visit to Japan next month. The president came close to such a visit in his ...

The new Ukrainian cabinet, confirmed by the parliament on Thursday, is more interesting for the people it doesn’t include than for those it does. Ukraine’s experiment with bringing foreign reformers and private sector professionals into the government is now officially over, and it has failed. President Petro Poroshenko tapped his long-time protege and ally, former parliament speaker Volodymyr Hroisman to ...

BLOOMBERG Saudi Arabian stocks led declines across most Gulf Arab equity markets as investors await the outcome of a gathering of major oil producing nations in Doha. The Tadawul All Share Index dropped 1.5 percent, the most in two weeks. Dubai’s DFM General Index lost 0.7 percent as the Bloomberg GCC 200 Index, which tracks the largest and most liquid ...

  ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has increased by 0.12% to close at 4636.94 points. Accordingly the Market Capitalization has gained AED 0.92 billion attaining AED 752.17 billion. A total of 486.95 Million Shares were traded with a total value of AED 0.58 billion during the trading session of 17-04-2016 through 6161 transactions. The number of companies ...

  Reuters Al Rajhi Bank, Saudi Arabia’s second-largest lender by assets, reported a 32.8 percent rise in first-quarter net profit on Sunday, beating analyst forecasts as it cut wage costs and fee income increased. The bank made a profit of 2.02 billion riyals ($538.7 million) in the three months to March 31, up from 1.52 billion riyals in the same ...

  Budapest / Reuters The scope for further cuts in the National Bank of Hungary’s record-low 1.2 percent base rate is increasingly limited, central bank Managing Director Barnabas Virag was quoted as saying on Saturday. “The room to further reduce the central bank’s base rate is increasingly limited,” Virag, who is not a rate-setter but is in charge of monetary ...

  Bloomberg Indonesia’s central bank said it will use the seven-day reverse repo rate as its benchmark policy instrument to help spur lending and support growth in Southeast Asia’s biggest economy. The new benchmark — which is the interest the central bank pays to borrow from commercial lenders, currently at 5.5 percent — will replace the 12-month reference rate of ...