Middle East
  • In this image released by the office of the Egyptian Presidency, International Monetary Fund Chief Christine Lagarde, second right, meets with Egyptian President Mohammed Morsi, right, in Cairo, Egypt, Wednesday, Aug. 22, 2012. Egypt’s prime minister says his country has formally asked the International Monetary Fund for a $4.8 billion loan to help boost its battered economy, and that he expects to reach a deal by the end of the year.

    Egypt on Wednesday formally asked the International Monetary Fund for a $4.8 billion loan to boost the country's sagging economy.

    LAST UPDATE : Aug 24, 2012, 1:27 AM EDT
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    Egyptian Cabinet ministers and World Bank officials have signed off on a $200 million project aimed at creating 250,000 jobs after more than a year of slow economic growth.

    LAST UPDATE : Aug 22, 2012, 6:09 AM EDT
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  • Oilfield services provider Petrofac says it has signed a $100 million contract with Iraq's South Oil Company to do operations and maintenance work on new offshore oil export facilities in the Persian Gulf.

    LAST UPDATE : Aug 22, 2012, 6:09 AM EDT
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  • This image made from amateur video released by the Syrian Observatory for Human Rights and accessed Monday, Aug. 13, 2012, purports to show a Free Syrian Army soldier after firing a recoilless rifle during clashes with Syrian government forces at the village of Mukhtariya in the suburbs of Homs, Syria.

     Economic sanctions have been called wars without bullets, yet their record in forcing political change has been mixed — by some estimates successful about a third of the time.

    LAST UPDATE : Aug 21, 2012, 6:13 PM EDT
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  • The U.S. has imposed sanctions on Syria's state-run oil company Sytrol for having provided gasoline to Iran, the U.S. State Department said on Friday.

    LAST UPDATE : Aug 21, 2012, 3:09 PM EDT
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