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  • 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.

  • Egypt stock market loses $3B amid oil plunge Sunday, 14 Dec 2014 | 9:47 AM ET

    CAIRO— Egypt's stock market shares plunged by 22 billion Egyptian pounds in Sunday trading as low oil prices dragged down regional economies. The markets in Egypt and Gulf Arab countries "are correlated in terms of their performance because the investor base intersects." Any net benefit for Egypt from the decline in oil prices hinges on the willingness of the...

  • *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.

  • UPDATE 1-Kellogg tops Abraaj offer for Egypt's Bisco Misr Wednesday, 26 Nov 2014 | 3:58 AM ET

    CAIRO, Nov 26- Kellogg Co, the world's biggest breakfast cereal maker, has offered 908.5 million Egyptian pounds for Egyptian cake and biscuit maker Bisco Misr, setting up a likely bidding war with a UAE investment company. UAE- based Abraaj Investment Management offered 850 million pounds this month for the Egyptian firm, which earlier refused a takeover bid...

  • Milan, Nov 14- A controversial derivatives trade that has dogged Monte dei Paschi di Siena for years reduced its core capital by 411 million euros in a regulatory health-check of European banks, a document from the Italian lender showed. The derivatives trade, dubbed Alexandria, involved the purchase by Monte dei Paschi, Italy's third-largest lender and the...

  • CAIRO, Nov 8- Egypt, facing its worst power crisis in decades, on Saturday pledged greater energy cooperation with Greece and Cyprus, a diplomatic move that opened up the possibility of progress in talks to import natural gas from Cyprus. The meeting in Cairo between Anastasiades, Egyptian President Abdelfattah al-Sisi and Greek Prime Minister Antonis Samaras...

  • NASDAQ Dubai to promote Egyptian firms' dual listings Thursday, 6 Nov 2014 | 5:08 AM ET

    "This will reduce risk for investors," Salam told reporters, estimating that UAE investment in Egypt's stock market now totalled about 14 billion Egyptian pounds. He declined to comment on specifics, but Amsterdam- listed OCI, controlled by Egypt's billionaire Sawiris family, said on Thursday it planned to spin off its construction and engineering business and...

  • IBSHAR, Egypt, Nov 5- At Egypt's border with the Gaza Strip, families are emptying their homes- lugging mattresses and furniture onto waiting vans as soldiers look on from armoured cars. The operation's resulting no-mans-land- a security buffer 13.5 km-long and 500 metres deep- will provide greater visibility and, Egypt hopes, deter any future passage of arms from...

  • CAIRO, Oct 27- From mega-projects to tax reforms, Egyptian ministers presented detailed initiatives last week to revive an economy battered by three years of upheaval and decades of neglect. Quizzed about Egypt's political challenges, however, they had less to say. Marking themselves out from predecessors, the ministers spoke with candour about the enormity...

  • BG seeks revival of Egypt LNG business with BP deal Thursday, 23 Oct 2014 | 8:08 AM ET

    *BG hopes a deal could lift Egypt operations in 2015/ 16. MILAN/ LONDON, Oct 23- British energy company BG Group is in talks with BP to link their two gas developments off Egypt's coast, as part of BG's drive to breathe life into its gas-starved export plant, sources familiar with the matter said. BG is in advanced talks with Israel to import gas supplies into Egypt and...