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Business Egypt

  • DUBAI, United Arab Emirates— Egypt's tourism levels are still around a third of what they once were and, despite security concerns, Egypt's tourism minister on Monday insisted the country's popular Red Sea resorts and Ancient Egyptian sites are a safe choice for travelers. More than half-a-million tourists from Saudi Arabia visited Egypt in 2016, followed by...

  • President Donald Trump speaks to Associated Press Chief White House Correspondent Julie Pace in the Oval Office in Washington, Friday, April 21, 2017.

    An interview with Trump over his first 100 days in office, from relationships with el-Sissi and Merkel to his opinions on cable news.

  • DUBAI, April 23- Saudi stocks rose in heavy volumes on Sunday as investors cheered news that King Salman had issued a royal decree restoring financial allowances for civil servants and military personnel, while Egypt fell steeply on profit taking. The move is likely to boost consumption, benefiting the retail and food sectors, according to economists at Riyadh-...

  • *Iraq could ask to be exempted- senior Iraqi politician. ABU DHABI, April 20- Leading Gulf oil exporters Saudi Arabia and Kuwait gave a clear signal on Thursday that OPEC plans to extend into the second half of the year a deal with non-member producers to curb supplies of crude. "Russia is on board preliminarily...

  • Those findings come as the semi-annual gathering of finance officials from the International Monetary Fund, the World Bank and the Group of 20 major economies kicks off in Washington, where the case against protectionist trade policies is expected to be a major theme. "For the first time in five years, all the major economies seem to be growing in sync," noted Ajay...

  • ABU DHABI, April 20- Leading Gulf oil producers Saudi Arabia and Kuwait gave the clearest signal yet that OPEC plans to extend into the second half of the year a deal with non- OPEC producers to curb oil supplies. Asked about non- OPEC producer Russia, Falih replied: "We are talking to all countries. "We have a noticeable increase in compliance from non- OPEC, which shows...

  • CAIRO, April 20- Iraq may seek to be exempt from a deal between oil exporters to reduce global supply in order to support crude prices and ask to boost its own output, the leader of the nation's Shi'ite ruling coalition Ammar al-Hakim told Reuters. "Given these sensitive circumstances, it is the right of Iraq to hope for an exemption by the other OPEC member states and...

  • CAIRO, April 20- Iraq supports an extension of a deal between oil exporters to reduce global supply in order to support crude prices, the leader of the nation's Shi'ite ruling coalition Ammar al-Hakim told Reuters. "Given these sensitive circumstances, it is the right of Iraq to hope for an exemption by the other OPEC member states and have an opportunity to...

  • *Egypt's Sisi deploys military across the country. TANTA, Egypt/ CAIRO, April 9- At least 44 people were killed in Egypt in bomb attacks at the cathedral of the Coptic Pope and another church on Palm Sunday, prompting anger and fear among Christians and leading to troop deployments and the declaration of a three-month state of emergency. The first bombing, in Tanta, a...

  • Egyptians load a body onto an ambulance near a church in Alexandria after a bomb blast struck worshipers gathering to celebrate Palm Sunday on April 9, 2017.

    At least 36 people were killed and more than 100 injured in bomb attacks on two Coptic churches on Palm Sunday.

  • DUBAI, April 9- Egyptian stocks fell on Sunday, hurt by bomb blasts in the country, while most other Middle East stock markets also ended lower as geopolitical tensions weighed on investor sentiment. "This was an immediate reaction to the terrorist attack," Ahmed Abu Taleb, head of sales at Pharos Securities in Cairo, said. At least 36 people were killed and more than...

  • *First Abu Dhabi Bank up in heavy trade. DUBAI, April 4- Stock markets in the Middle East rose on Tuesday with Abu Dhabi gaining the most, buoyed by heavy trade in the shares of a newly merged bank while buying from foreign funds boosted Egypt. Shares of recently merged First Abu Dhabi Bank jumped 4.8 percent in very heavy trade, helping lift Abu Dhabi's index 1.8...

  • Trump: Egypt has great friend and ally in US

    President Trump meets with Egyptian President Abdel-Fattah el-Sissi at the White House.

  • What to expect from Trump's meetings with el-Sissi and Xi

    CNBC's Eamon Javers and John Harwood report what to watch for from Egypt President Abdel-Fattah el-Sissi's visit to the White House to meet with President Donald Trump and the upcoming meeting with China President Xi Jinping.

  • We need to have a more explicit conversation with China on North Korea: Expert

    Amb. James Jeffrey, former deputy national security advisor and former ambassador to Turkey, and Amb. Lincoln Bloomfield, former assistant secretary of State for political & military affairs, discuss the Trump administration's take on geopolitical hot spots like North Korea and China.

  • As well as meeting President Donald Trump, Sisi will see the top officials at the World Bank and International Monetary Fund, where he will pitch for help with his countrys' ailing ecoomy. Egypt has long been one of Washington's closest allies in the Middle East, receiving $1.3 billion in U.S. military aid annually. During his visit, Sisi is will also be meeting with...

  • CAIRO, March 30- Egypt's government is considering raising food subsidies provided to millions of people every month by 29 percent to help ease the impact of rising prices on poorer families, two sources at the finance ministry said on Thursday. A surge in inflation to a 30- year high since Egypt dropped the pound's peg to the dollar in November has driven up...

  • CAIRO, March 30- Egypt expects inflation to start easing by November or December, a year after abandoning its currency peg and seeing prices soar as the pound lost half its value, Finance Minister Amr El-Garhy said on Thursday. "We expect the inflation rate to ease starting in November or December," Garhy told a conference in Cairo. Garhy was speaking a day after the...

  • CAIRO, March 30- Egypt expects inflation to start easing by November or December, a year after abandoning its currency peg and seeing prices soar as the pound lost half its value, Finance Minister Amr El-Garhy said on Thursday. "We expect the inflation rate to ease starting in November or December," Garhy told a conference in Cairo. Garhy was speaking a day after...

  • *Marakez investment in Egypt could double in five years- CEO. CAIRO, March 22- Saudi-owned retail property developer Marakez is investing 15 billion Egyptian pounds in Egypt and could double that within five years as the country pushes through economic reforms. Those efforts received a boost in November when Egypt floated its currency, devaluing the pound, and...