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Friday 24 June 2005 (18 Jumada al-Ula 1426)

Malaysia to Promote Shariah Compliance in Islamic Banking

KUALA LUMPUR, 24 June 2005 — Malaysian Prime Minister Abdullah Badawi’s announcement yesterday that Bank Negara, the Malaysian central bank, is to establish a special endowment fund of RM200 million... Full Story


Crude Oil Hits All-Time High of $60

NEW YORK/LONDON, 24 June 2005 — Crude oil futures hit a historic high of $60 a barrel yesterday in New York, as traders bet on strong demand that may not be satisfied in the coming months. The benchmark... Full Story


LG’s Music Mobile Phones Enter Saudi Market

JEDDAH, 24 June 2005 — Innovative mobile phones are entering the ever-expanding Saudi Arabian market. The trend has been all the more since the overturning of a ban on the import and sale of mobile... Full Story




Iraq Determined to Tackle State Subsidies

BRUSSELS, 24 June 2005 — War-torn Iraq is working to reduce state handouts that consume more than 80 percent of its gross domestic product in its drive to qualify for debt relief and IMF support, the... Full Story


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