Oil prices fell to below $99 a barrel Monday in Asia, extending a big loss from Friday after a report said Saudi Arabia plans to boost its crude production.

Benchmark oil for July delivery was down 57 cents to $98.72 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract lost $2.64 to settle at $99.29 on Friday.

OGERO Telecom General Manager Abdul Monhem Youssef denied on Friday reports that he had halted granting DSL and HDSL licenses to the Telecommunications Ministry and private companies.

He told the Central News Agency that OGERO is waiting to accept new requests to install DSL internet connection because of a shortage of modems caused by the Telecom Ministry’s decision to stop funding the company.

Drivers of Nissan 350Z sports car and Titan pickup, as well as the humble Chevrolet Aveo run the most risk of dying in a crash, while Audi's luxury A6 cruised in relative safety, according to an insurance report Thursday.

Meanwhile sports utility vehicles (SUVs), formerly known as rollover death-traps, now have some of the best safety records in the industry, according to the Insurance Institute for Highway Safety.

Abou Jaoude & Associates Law Firm has been awarded the coveted 'Best Law Firm of the Year' Award at the prestigious 2011 Arab Achievement Award Ceremony.

The ceremony was the highlight of the 2011 Annual Arab Investment Summit that took place on May 23-24 at the Yas Rotana Hotel in Abu Dhabi. This year’s highly attended summit delivered a focused agenda featuring over 20 expert speakers comprising many of the region's decision and policy makers, investors, financiers and service providers who discussed the various investment opportunities in the fast-growing markets in the Arab world. The Firm was represented by partner Souraya Machnouk whose presentation and panel discussion revolved around the topic “Private Equity: A Gateway to the Renaissance of the Capital Markets”.

Unrest across the Arab world combined with a government void in Lebanon and upheaval in neighboring Syria have dealt a severe blow to Beirut's economy and dashed hopes of a record tourist season.

"Business has dropped 40 percent in the first six months of 2011," lamented Pierre Achkar, head of Lebanon's hotel syndicate.

The euro fell against the dollar while European stock markets bounced back Thursday as the European Central Bank and Bank of England resisted pressures to hike interest rates.

News that the U.S. trade deficit fell provided some support as the figures suggested exports were still doing well despite recent weaker economic data.

Tony Hayward, who resigned as boss of British energy giant BP over the Gulf of Mexico spill disaster, on Thursday launched a bid to raise £1.0 billion in his new role as part of an investment vehicle.

Hayward has helped to set up Vallares, which on Thursday said it plans to raise £1.0 billion (1.13 billion euros, $1.64 billion) via a stock market flotation in London later this month.

German car maker BMW reinforced its claim to be the world's leading premium auto maker ahead of Audi and Daimler, which owns Mercedes-Benz, after releasing figures for May on Wednesday.

BMW, which also owns the Mini and Rolls-Royce brands, said it delivered a total of 147,563 vehicles last month, for an annualized gain of 21 percent.

Singapore is set to overtake Las Vegas as the world's second-largest gambling hub this year, a U.S. gaming industry head said Tuesday, as Asia cements its place as a major betting market.

Singapore has emerged as Asia's hottest new gambling destination with a revamped cityscape and billions of dollars pouring into the economy, after the opening of two resort casinos in 2010.

Growing inflation worldwide is casting a pall over the global economic recovery and risks hurting the financial system, China's top banking regulator has been quoted as saying.

Liu Mingkang, chairman of the China Banking Regulatory Commission, said inflation was soaring in both developed and emerging economies as a result of monetary easing in the United States, the European Union and Japan, which had sent a flood of liquidity into global commodity markets, pushing up prices.