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Business Egypt

  • DUBAI, May 7- Shares of Dubai builder Drake& Scull slumped to a 14- month low in heavy trade on Sunday as investors reacted to the company's revised capital restructuring plan, while last week's fall in oil prices knocked down oil-sensitive shares. "The new news from the meeting is the 722 million dirhams additional write off from potentially unrecoverable...

  • TALLINN- Prime ministers of four countries- Poland's Beata Szydlo, Estonia's Juri Ratas, Latvia's Maris Kucinskis and Lithuania's Saulius Skvernelis- will meet to discuss regional security, transport and energy. MANILA- Philippines Central Bank holds its monetary policy meeting. MUMBAI- Federal Reserve Bank of New York President William Dudley speaks on "...

  • Imkan CEO Walid El-Hindi explains his bullish outlook on Egypt, partly attributing this to its population of 100 million.

  • Buildings in Abu Dhabi along the Sultan bin Zayed the First Street, United Arab Emirates

    The Abu Dhabi Financial Group told CNBC on Wednesday that its multi-million dollar fund remained focused on Middle Eastern economies over the U.S.

  • IMF Director of the Middle East and Central Asia Department Jihad Azour talks about the economic state of Egypt, with comment on why inflation in the country needs to be addressed.

  • *Sudan banned all Egyptian agricultural goods in March. CAIRO/ KHARTOUM, April 27- When Egyptian media began making Sudan and its smaller if more numerous pyramids the subject of jokes on nightly talk shows recently, Sudanese were not amused. Hany Hussein, executive director of Egypt's Agricultural Export Council, says that seven months after the initial import...

  • 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...