Egypt has completed a preliminary report on the Russian plane crash in Sinai on October 31 that killed all 224 people on board.» Read More
The U.S. State Department issued a "worldwide travel alert" late on Monday, in the latest security red flag for global tourism.
The Fed seems intent on raising rates in December, says Ron Insana. That could leave some players exposed when the tide goes out, says Ron Insana.
ISIS has released an image of what it claims is the explosive device responsible for downing the Russian airliner in Egypt.
BEIRUT, Nov 18- The World Bank expects to make a $1 billion development policy loan available to Egypt in December if all goes to plan after completing negotiations in Cairo last weekend, a senior World Bank official said. The loan could be the first of three as part of a three-year program with Egypt, Hafez Ghanem, the World Bank's vice president for the Middle East...
BEIRUT, Nov 18- A new international bond and grant scheme to help countries dealing with the fallout of war and instability in the Middle East and North Africa should be in place by spring, a senior World Bank official said. In a Reuters interview, Hafez Ghanem, the World Bank's vice president for the Middle East and North Africa, said the type of investment targeted...
Despite the latest string of terror attacks, international travel and tourism will not decline as much as one might expect.
The Kremlin said for the first time on Tuesday that a bomb did bring down a Russian passenger plane that crashed over the Sinai Peninsula.
*Considering buying land on Red Sea, Mediterranean coasts. CAIRO, Nov 16- Egyptian real estate developer SODIC has signed sales contracts worth 3.6 billion Egyptian pounds since the beginning of 2015, surpassing last year's full-year total, it said on Monday. Sherif said the company was considering buying land on the Red Sea coast in the first quarter of 2016, as...
Given everything going on in the world, it would be absolutely crazy for the Fed to raise rates now, says Ron Insana.
David Cameron will announce plans to recruit 1,900 intelligence and security staff to counter threats from ISIS, the Financial Times reports.
*But move risks raising inflation in import-dependent Egypt. CAIRO, Nov 13- Egypt's revaluation of the pound this week has raised expectations of a major shift in how it manages a long-running currency crisis, with evidence growing that the central bank may be preparing for a more flexible exchange rate mechanism. Economists, especially those with longer...
CAIRO, Nov 11- Egypt's central bank strengthened the pound on Wednesday, injecting dollars into a banking system that has been suffering from an acute foreign exchange shortage for months. Egypt, which is heavily dependent on imports for food and energy, has been under pressure to devalue the currency as the black market for dollars has burgeoned, and has allowed...
An ongoing investigation into the causes of the crash is further complicating the Egyptian tourism picture in a country that relies heavily upon it.
These two asset classes are showing troubling signs of a bubble, says Ron Insana. That could mean a top is near for stocks, too.
Akbar Al Baker, CEO of Qatar Airways, says his airplanes will continue to fly over Egypt and the Sinai Peninsula, despite the Russian airplane crash.
Tim Clark, president of Emirates airline, says security across the industry has to be raised.
Investigators working on the Russian plane crash in Egypt are "90 percent sure" the noise heard in a cockpit recording was a bomb explosion.
Tim Clark, president of Emirates Airline, says the fatal crash of a Russian passenger plane in Egypt earlier this month is a game changer for the industry.
The tragedy is already having a profound impact on Egypt's tourism industry as well as diplomatic relations.
LONDON, Nov 6- Egypt anticipates a ramp-up in oil volumes through the SUMED pipeline once Iran re-enters the world market- a move that is welcomed by Cairo, the country's petroleum minister Tarek El Molla told Reuters on Friday. SUMED, which owns and operates Egypt's Mediterranean port of Sidi Kerir, is half owned by state-run oil company Egyptian General...