Business Egypt

  • CAIRO— WikiLeaks' giant data dumps have rattled the National Security Agency, the U.S. Democratic Party, and the Saudi foreign ministry. But its spectacular mass-disclosures have also included the personal information of hundreds of people— including sick children, rape victims and mental health patients, The Associated Press has found.

  • MILAN, Aug 19- The latest judicial probe into Monte dei Paschi di Siena is a procedural necessity but it could still damage Italy's third-largest bank as it seeks to solve its financial woes, the lender's chief executive said on Friday. CEO Fabrizio Viola and former chairman Alessandro Profumo are under investigation for alleged false accounting and market...

  • FLORENCE, Italy, Aug 18- The chief executive of Monte dei Paschi di Siena, Fabrizio Viola, and the Italian bank's former chairman, Alessandro Profumo, are under investigation for alleged false accounting and market manipulation, a source with knowledge of the matter said. The source said on Thursday prosecutors in Siena alleged the bank did not correctly book two...

  • The headquarters of Banca Monte dei Paschi di Siena SpA, the oldest surviving bank in the world and Italy's third-largest bank.

    The CEO of BMPS, Fabrizio Viola, and the bank's former chairman, Alessandro Profumo, are under investigation, a source with knowledge of the matter said.

  • FLORENCE, Italy, Aug 18- The chief executive of Monte dei Paschi di Siena, Fabrizio Viola, and the Italian bank's former chairman, Alessandro Profumo, are under investigation for alleged false accounting and market manipulation, a source with knowledge of the matter said. The source said on Thursday prosecutors in Siena alleged the bank did not correctly book two...

  • MILAN, Aug 12- Italy's Eni is talking to oil companies including Lukoil, ExxonMobil, Total and BP about selling at least a 20 percent stake in its giant gas field in Egypt, industry sources said. Chief Executive Claudio Descalzi has said any deal on Zohr would have to wait until next year when final appraisals are complete and production kicks in.

  • Egyptian women are seen as they buy vegetables in an open-air marketplace in Cairo, Egypt.

    The IMF has agreed in principle to grant Egypt a $12 billion three-year loan facility.

  • CAIRO, Aug 11- The International Monetary Fund has agreed in principle to grant Egypt a $12 billion three-year loan facility, to support a government reform programme aimed at plugging a budget gap and rebalancing the currency markets. "Egypt is a strong country with great potential but it has some problems that need to be fixed urgently," the head of the IMF's...

  • CAIRO, Aug 11- The International Monetary Fund said on Thursday it had reached a staff-level agreement with Egypt for a $12 billion three-year funding facility to support a government reform program aimed at plugging a funding gap and rebalancing the currency market. "Egypt is a strong country with great potential but it has some problems that need to be fixed...

  • CAIRO— The International Monetary Fund said Thursday it will grant Egypt a $12 billion loan over three years to help the Arab world's most populous country mend its ailing economy following years of unrest. "Egypt is a strong country with great potential but it has some problems that need to be fixed urgently," it said in a statement, adding that planned government...

  • CAIRO, Aug 11- Egypt has reached a preliminary agreement with the International Monetary Fund after nearly two weeks of talks to secure a $12 billion lending programme and will make an announcement on Thursday, two government sources said. The sources said no deal had been signed yet but that intensive talks with an IMF delegation that arrived in Cairo on July 30...

  • CAIRO, Aug 8- Egypt will increase electricity prices by up to 40 percent for households as part of its plan to repair its finances by eliminating power subsidies entirely over the next few years, the government said on Monday. Egypt began a five-year program of price increases in 2014 to gradually eliminate domestic electricity subsidies.

  • Egypt said late on Tuesday it was seeking $4 billion a year over three years from the International Monetary Fund to help plug a funding gap. Egyptian stocks have surged on hopes a deal would revive confidence and allow Egypt to remove restrictions on access to hard currency that have hit manufacturing and trade and made it hard for foreign firms to repatriate...

  • WASHINGTON, July 28- The International Monetary Fund said on Thursday that the size of Egypt's financing program will be determined by a two-week IMF mission to Cairo starting this weekend. He noted that Egypt's quota, or shares in the Fund, are about 2.08 billion Special Drawing Rights- the IMF's unit of account- or about $2.9 billion at current exchange rates.

  • WASHINGTON, July 28- The International Monetary Fund said on Thursday that the size of Egypt's financing program will be determined by a two-week IMF mission to Cairo starting this weekend.

  • CAIRO, July 28- Egypt expects to receive at least $2 billion within two months of agreeing a three-year $12 billion loan program with the International Monetary Fund, a senior finance ministry official said on Thursday. Egypt announced late on Tuesday it was seeking $4 billion a year over three years from the IMF to help plug a funding gap and restore market...

  • CAIRO, July 28- Egypt expects to receive at least $2 billion within two months of agreeing a three-year $12 billion loan programme with the International Monetary Fund, a senior finance ministry official said on Thursday. Egypt announced late on Tuesday it was seeking $4 billion a year over three years from the International Monetary Fund to help plug a funding...

  • LONDON, July 28- A dollar retreat boosted emerging assets on Thursday, with stocks at new 11- month highs despite fresh wobbles on Chinese equity markets, while the Turkish lira continued its recovery, firming to one-week highs. MSCI's emerging equity index rose 0.25 percent despite pullbacks in Asian markets, where some concern is rising over volatility in...

  • THURSDAY, JULY 28 KIEV- National Bank of Ukraine monetary policy meeting- 0700 GMT. COLOMBO- Central Bank of Srilanka monetary policy committee meeting- 1230 GMT. PRAGUE- Czech Banking Association holds a press conference on the updated macroeconomic forecast- 0800 GMT.

  • LONDON, July 27- Emerging stocks touched 11- month highs on Wednesday, boosted by news of additional Japanese stimulus and shrugging off a sharp drop in mainland shares in China, where fears of a fresh regulatory crackdown are weighing. Some nerves were jangled by a 2 percent fall in Shanghai- listed shares, which posted their worst day in six weeks while the...