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  • CAIRO, March 8- Sami Khangy's printing press has a problem: finding paper. Prices are rising, profits are falling and uncertainty over the fate of Egypt's currency is clouding investment plans. "They want to cut imports but there are only two paper plants in the country and the quality is rubbish," said Khangy, sipping coffee in the office at his factory west of Cairo.

  • *Egypt starved of forex as tourists, investors dwindle. CAIRO, March 3- The Egyptian pound slipped to its weakest rate on the black market on Wednesday, raising pressure on the central bank to devalue as firms complain of problems clearing imports and repatriating earnings. Egypt has been starved of foreign exchange since an uprising in 2011 ended Hosni...

  • *Threat of rejected shipments has kept suppliers away from Egypt. CAIRO/ ABU DHABI March 2- A global grain glut should make purchasing wheat cheap and easy for Egypt, the world's biggest importer, but traders say one bureaucrat has made it anything but. Moussa, who did not respond to repeated attempts to contact him for this story, told Reuters in January: "Any wheat...

  • TOKYO, March 2- Japan's Marubeni Corp and Egypt's El Sewedy Electric have agreed with Egypt's state-run electricity utility to conduct a feasibility study into the construction of a coal-fired power plant in Egypt. Earlier this week, Japanese Prime Minister Shinzo Abe said after meeting with Egyptian President Abdel Fattah al-Sisi in Tokyo that Japanese...

  • *Barclays calls time on a century in Africa. JOHANNESBURG, March 1- When Barclays bought South Africa's Absa in 2005, wading back into a market it quit in the 1980 s under pressure from anti-apartheid campaigners, the deal was trumpeted as a "tangible vote of confidence" in Africa's future. Barclays Africa chief executive Maria Ramos also said the decision had...

  • Container ship in Suez Canal, Egypt.

    The low price of oil is allowing cargo vessels to avoid the Suez and Panama canal tariffs and take the long way round Africa instead.

  • DUBAI, Feb 19- Yemen's central bank has told traders and local banks it will no longer provide lines of credit for the import of sugar and rice at the official exchange rate, merchants and local bankers said on Friday. Yemen is in the midst of a war between the Iran- allied Houthis, who control the capital Sanaa, and President Abd-Rabbu Mansour Hadi's government, which...

  • *Many Egyptians use smartcards to buy food. CAIRO, Feb 18- "Any rice?" says the woman, leaning into a shop in Cairo and brandishing a green smartcard that carries her family's food credits.

  • *Egypt having difficulty importing wheat amid confusion. ABU DHABI, Feb 16- Egypt's agricultural quarantine authority has rejected a shipment of Canadian wheat, saying it contained traces of the fungus ergot, a trade source said and official documents obtained by Reuters showed. The first alarm was raised when a 63,000- tonne wheat shipment arrived in Egypt...

  • NAIROBI, Feb 16- Kenya Airways has selected U.S. investment banking firm PJT Partners to advise on long-term capital-raising and the restructuring of its balance sheet, as it seeks to secure its survival after a long period of losses. The Kenyan government, which holds a 29.8 percent stake, has said the carrier requires a capital injection of $500- $600 million to...

  • *Health Ministry considering increasing prices of finished drugs. CAIRO, Feb 10- Nahed Ibrahim has scoured Egypt in vain to find a regular supply of medication to help her mother to recover from a stroke she suffered four months ago, since then the 75- year-old has struggled to follow conversations. A weaker currency has also made it more expensive to import raw...

  • *Market awaiting USDA supply outlook for trading cues. SYDNEY, Feb 8- U.S. soybeans fell to a 10- day low on Monday as rains across Argentina eased fears over dry weather curbing yields, although trading was light due to Lunar New Year holidays. Chicago Board of Trade front-month soybeans were unchanged at $8.67-1/ 2 a bushel by 0238 GMT, near a session low of $8.67, the...

  • SYDNEY, Feb 8- U.S. soybeans dipped to a 10- day low in Asian trade on Monday as rains in Argentina relieved pressure on crops, although trading was muted amid Lunar New Year holidays. *Chicago Board Of Trade front-month soybeans eased slightly to $8.67 a bushel, the lowest since January 29. *Front-month corn rose 0.1 percent to $3.66 a bushel, having earlier hit a low of...

  • DUBAI, Feb 7- Stock markets in Saudi Arabia and Egypt slipped in early trade on Sunday, erasing some of their gains in the previous session after oil prices reversed and global markets sold off at the end of last week. Saudi Cement rose 2.0 percent after the company recommended a dividend distribution of 3.00 riyals per share for the second half of 2015, versus a...

  • Chicago, Feb 5- U.S. wheat futures slumped for a second session on Friday, anchored by ample global supplies and after top importer Egypt canceled a tender for the second time this week. Corn and soybeans were also lower at the Chicago Board of Trade, with all three markets on pace for a weekly decline ahead of a U.S. Department of Agriculture supply and demand...

  • DUBAI, Feb 4- Stock markets in Saudi Arabia and Egypt rose in early trade on Thursday as a second day of rising oil prices helped to revive risk appetite. Saudi Basic Industries, the largest petchem by market value, jumped 3.0 percent. However, strength in Saudi stocks late on Wednesday was accompanied by lower trading volumes, suggesting the index is still in an...

  • *Could lead to joint venture to restore flights with Russia. CAIRO, Feb 2- An Egyptian airline plans to buy up to 10 Russian-made jets in a deal with Sukhoi Civil Aircraft that could also see the creation of a tour agency to restore flights between the two countries that were suspended after a plane crash last year. An Egyptian source said the deal included the...

  • *Traders shaken by mixed signals from Egypt. *Egypt is world's biggest importer. Wheat supplies, critical to a bread subsidy programme that feeds tens of millions, are a red line in Egypt, the most populous Arab country.

  • MILAN, Jan 28- Italian lender Banca Monte dei Paschi di Siena posted an annual profit for the first time in five years on Thursday, helped by a change in the way it booked a controversial derivative trade. Monte dei Paschi's swing to a profit for the year as a whole was due to a gain of around 500 million euros from the restatement- requested by market watchdog Consob- of...

  • *Era of Qatar "throwing money" at Al Jazeera over. While the gas-exporting nation is still determined to remain a power broker in the Middle East turmoil, its use of Al Jazeera as a megaphone in support of that goal appears to be on the wane under the young emir, Sheikh Tamim bin Hamad al-Thani, former Qatari officials and Arab commentators say. The days of unstinting...