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Egypt

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  • BEIRUT/ CAIRO, Dec 27- Syria said on Saturday it was willing to participate in "preliminary consultations" in Moscow aimed at restarting talks next year to end its civil war but the Western-backed opposition dismissed the initiative. Syrian state television quoted a source at the foreign ministry saying: " Syria is ready to participate in preliminary...

  • BEIRUT/ CAIRO, Dec 27- Syria said on Saturday it is willing to participate in "preliminary consultations" in Moscow aimed at restarting peace talks next year to end its civil war. Syrian state television quoted a source at the foreign ministry saying " Syria is ready to participate in preliminary consultations in Moscow in order to meet the aspirations of Syrians...

  • CAIRO, Dec 24- Kellogg Co, the world's largest maker of breakfast cereals, raised its bid for Egyptian snack maker Bisco Misr on Wednesday, topping a rival offer from UAE's Abraaj in an intensifying $144 million takeover battle. Kellogg's latest bid, for 89.86 Egyptian pounds per share, came on the heels of an offer earlier in the day by Abraaj Asset Management for...

  • CAIRO, Dec 24- Kellogg Co. has raised its bid for Egypt's Bisco Misr to 89.86 Egyptian pounds per share, topping a rival offer by the UAE's Abraaj, the head of Egypt's financial regulator said on Wednesday. Sherif Samy told Reuters by phone the bidding period would be extended by five days with each new offer, until sixty days after the first offer, when sealed bids...

  • UPDATE 2-Russia's grain exports stop - farm lobby Wednesday, 24 Dec 2014 | 7:59 AM ET

    *About 3 mln T of grain are now stuck in Russia- Union. *Wheat futures rise on Russia export curbs. Russia's main wheat buyers are Turkey, Iran and, very vulnerable to supply disruption, Egypt.

  • CAIRO, Dec 24- UAE's Abraaj Investment Management is seeking regulatory approval to raise its bid for Egypt's Bisco Misr to 88.09 Egyptian pounds a share, aiming to top a rival bid by Kellogg Co. as the deadline for the takeover of the snackmaker loomed. Abraaj said in a statement on Wednesday it had submitted a request valuing Bisco Misr at 1.013 billion pounds to...

  • Egypt tattoo artists meet in Cairo, aim to break taboos Wednesday, 24 Dec 2014 | 2:27 AM ET

    CAIRO— In Egypt, where tattoos are widely considered taboo, organizers have held a convention to challenge stereotypes and show-off the ink designs as an art form. Organizers say they hope to showcase the artistic side of the practice, which is loosely regulated in Egypt and mostly performed by artists using licenses for beauty parlors. Timur Reda, 38, who has...

  • *Egypt expects to save $4.2 bln due to cheap oil in 2014/ 15. *Gulf allies provided $10.6 bln in aid to Egypt last year. CAIRO, Dec 23- The fall in global oil prices will cut Egypt's fuel subsidy bill but could hit the finances of oil-exporting Gulf allies who have showered it with billions of dollars in aid.

  • Iraq TV show makes 'terrorists' confront victims Monday, 22 Dec 2014 | 1:25 AM ET

    BAGHDAD— Haider Ali Motar was convicted of terrorism charges about a month ago for helping to carry out a string of Baghdad car bombings on behalf of the Islamic State extremist group. Now, the 21- year old is a reluctant cast member in a popular reality TV show. A cameraman pinned a microphone on Motar's bright yellow prison jumpsuit as he stood alongside a busy...

  • *Dubai stock market downturn evokes 2008 crash. *Stronger global economy due to cheap oil could help Dubai. So oil's current slide is being watched closely in Dubai.

  • Egypt receives 10 Apache helicopters from U.S. - sources Saturday, 20 Dec 2014 | 12:39 PM ET

    CAIRO, Dec 20- Egypt received 10 Apache helicopters from the United States in the past week, security sources said on Saturday, a sign of easing tensions between the long-time allies confronting Islamist extremism across the region. Egypt is fighting an Islamist insurgency targeting mostly security personnel and based mainly in the lawless Sinai Peninsula...

  • *Lenders lift markets in Qatar, Abu Dhabi. DUBAI, Dec 17- Most Gulf stock markets regained strength on Wednesday as oil's slide paused, with blue chip banks pushing Abu Dhabi up sharply and Saudi Arabia's bourse jumping after the kingdom's finance minister said the government would continue spending heavily. Brent crude held below $60 a barrel on Wednesday, at...

  • *Qatar falls sharply despite bullish economic outlook. The bourses' losses left Qatar and Bahrain as the only Gulf markets with year-to-date gains. With the exception of Oman and Bahrain, where state finances are relatively weak, analysts and fund managers think that scenario is unlikely.

  • *UAE, Qatar, Oman tumble in panic sell-off. *Dubai posts biggest daily loss in six years. DUBAI, Dec 11- Gulf stock markets fell sharply on Thursday as panic selling spread across the region after oil dropped to a fresh five-year low; Dubai's main index sank 7.4 percent, its biggest daily loss in six years.

  • INTERVIEW-BG in advanced talks with BP over Egypt deal Wednesday, 10 Dec 2014 | 8:32 AM ET

    *BG eyeing deals to pump gas from Israel, Cyprus, to Egypt. CAIRO, Dec 10- British gas company BG is in advanced talks that could boost supplies to power-hungry Egypt by allowing rival BP to use its pipelines, the head of BG Egypt told Reuters. Egypt is battling its worst energy crisis in decades.

  • UAE-Egypt alliance expands to desert wheat venture Friday, 5 Dec 2014 | 11:03 AM ET

    *UAE providing billions in cash, fuel, projects to Cairo. ABU DHABI/ CAIRO, Dec 5- Egypt and two companies from its strong backer United Arab Emirates have embarked on an ambitious plan to grow wheat in the desert that could boost the Cairo government's credibility if successful. As Egypt recovers from turmoil following the 2011 revolt that toppled Mubarak, Gulf...

  • CAIRO, Nov 28- Egypt has paid back $2.5 billion that Qatar deposited with it to help prop up the Egyptian central bank's hard currency reserves, a central bank official said on Friday night, as the Qatari foreign minister arrived in Cairo for Arab League talks. The payment brings the amount Egypt has returned to Qatar to $6 billion, leaving $500 million outstanding,...

  • LONDON/ SYDNEY/ CAIRO Nov 27- Automobiles are supposed to get you from Point A to Point B. They can also get you into trouble, even if you aren't driving or riding in one, because they possess potent social symbolism. During a by-election in Rochester that was won by the anti-immigration United Kingdom Independence Party, she tweeted a picture of a white cargo van in...

  • UPDATE 2-Kellogg and Abraaj battle for Egypt's Bisco Misr Wednesday, 26 Nov 2014 | 9:38 AM ET

    CAIRO, Nov 26- The battle for control of Egyptian cake and biscuit maker Bisco Misr intensified on Wednesday as Abraaj Investment Management raised its initial bid to trump a rival offer from Kellogg Co.. UAE- based Abraaj, the Middle East's largest private equity firm, raised its offer to 80.58 Egyptian pounds per share, exactly two percent above a bid of 79 pounds...

  • Abraaj raises Bisco Misr offer to 80.58 EGP per share Wednesday, 26 Nov 2014 | 7:45 AM ET

    CAIRO, Nov 26- UAE's Abraaj Investment Management said on Wednesday it would raise its price for Egyptian cake and biscuit maker Bisco Misr to 80.58 Egyptian pounds per share following a counter bid by Kellogg Co.. Abraaj's initial offer of 73 pounds per share earlier this month was topped earlier on Wednesday by Kellogg's offer of 79 pounds.