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Egypt

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  • *Qatar, Saudi Arabia supported by solid Q3 results. DUBAI, Oct 21- Solid corporate earnings and rebounding global equities lifted most stock markets in the Middle East on Tuesday, while Saudi Arabia led the rally after stabilising oil prices provided additional support to its petrochemical stocks. European shares, which have largely set the direction for...

  • Egypt sets appeal hearing for Al Jazeera staff Tuesday, 21 Oct 2014 | 9:25 AM ET

    CAIRO— A Cairo court has set an appeals hearing for three Al-Jazeera English journalists convicted of terrorism-related charges last June amid widespread international condemnation. Adel Fahmy, the brother of Mohammed Fahmy, acting Cairo bureau chief for Al-Jazeera English, said the scheduled court date is Jan. 1, 2015. Lawyer Negad Borai, who is...

  • Moody's raises Egypt's outlook to stable Monday, 20 Oct 2014 | 11:03 AM ET

    CAIRO— Moody's Investor Services said Egypt's political and security situation has stabilized, raising the country's outlook from negative to stable. However, Moody's stopped short of upgrading Egypt's government bond rating; the rating will remain at "Caa1," _essentially at junk bond level. Moody's said the continued low rating, "reflects the very weak and...

  • CAIRO, Oct 20- SODIC, one of Egypt's largest listed real estate developers, plans to invest 2.4 billion Egyptian pounds in 2015 and is hunting for new projects as the sector recovers from three years of turmoil, its managing director said. Egypt's once-booming construction sector was hit hard by the 2011 revolt that ended Hosni Mubarak's 30- year rule but ushered...

  • CAIRO, Oct 20- Egypt needs an "economic revolution" to recover from damage caused by political instability as it seeks to attract billions of dollars in foreign investment and repair its state finances, planning minister Ashraf al-Arabi said. To compensate for those losses and eventually compete globally, Egypt must overhaul an economy which has been...

  • *Dubai's Arabtec surges after promising Egypt deal soon. DUBAI, Oct 19- Most exchanges in the Middle East rebounded on Sunday after global stock markets recovered on Friday from a big sell-off triggered by worries about the impact of weak earnings reports on growth and businesses. Those worries had sent Middle East bourses tumbling, with Dubai's index down 13.6...

  • CAIRO, Oct 18- Egypt signed contracts with six international firms on Saturday to carry out dredging of the new Suez Canal, the flagship project in President Abdel Fattah al-Sisi's program to revive an economy battered by years of political turmoil. The companies are National Marine Dredging Company of the United Arab Emirates; Royal Boskalis Westminster and...

  • CAIRO, Oct 18- The three main countries that share the Nile River's waters moved toward an agreement to study whether a planned $4 billion Ethiopian dam would disrupt flows to downstream countries, water ministers of Ethiopia, Sudan and Egypt said after talks on Friday. But while the countries continue talks, construction will proceed on the Renaissance Dam,...

  • *Dubai closes below 200- day average, first time since 2012. *Ezz Steel lifts Egypt after govt restricts steel imports. DUBAI, Oct 15- Most stock markets in the Middle East continued to decline on Wednesday as global equities remained under pressure and disappointing quarterly earnings and forecasts weighed on bourses in Oman and Kuwait.

  • DUBAI, Oct 13- Most major stock markets in the Middle East rebounded on Monday, led by bourses in Dubai and Saudi Arabia, as global equities stabilised and several companies in the region reported strong quarterly earnings. The main indexes in Dubai and Saudi Arabia plunged 6.5 percent. But although Dubai tumbled as much as 2.7 percent early on Monday, it closed 1.9...

  • Despite pledged $2.7B, challenges ahead for Gaza Monday, 13 Oct 2014 | 5:41 AM ET

    Israel will have to lift its border restrictions, in place since the Hamas takeover of Gaza in 2007, and allow huge quantities of cement and steel into the territory. On the Gaza side, United Nations inspectors and a Palestinian unity government trying to take over from Hamas will have to ensure that the shipments are not diverted by the Islamic militant group...

  • Secretary of State John Kerry called on Sunday for a renewed commitment to achieving Middle East peace, saying a lasting deal between Israel, the Palestinians and all their neighbors could be achieved. "Out of this conference must come not just money but a renewed commitment from everybody to work for peace that meets the aspirations of all, for Israelis, for...

  • 1st Gaza meeting of Palestinian unity Cabinet Thursday, 9 Oct 2014 | 10:01 AM ET

    In establishing a Gaza foothold, the Cabinet also tried to assure the international community that foreign aid for Gaza's reconstruction will not reach the Islamic militant Hamas, shunned by the West as a terror group. The Cabinet meeting came three days before an international pledging conference in Cairo where Western-backed Palestinian President...

  • SINGAPORE Oct 9- U.S. crude futures climbed towards $88 a barrel on Thursday, rebounding after falling to their lowest level in 18 months on a weaker dollar and a draw on inventories at the Cushing delivery hub. *U.S. crude inventories surged by 5 million barrels in the week to Oct. 3, far higher than the 1.5 million barrel build forecast by analysts, data from the U.S....

  • PENPIX-Who runs the militant group Islamic State? Friday, 3 Oct 2014 | 12:25 PM ET

    BEIRUT, Oct 3- Islamic State, a Sunni Muslim militant group, has seized a third of Syria and large areas of Iraq and this year proclaimed a caliphate across the two countries in the heart of the Middle East. The group, which U.S-led forces are bombing in Iraq and Syria, is made up of thousands of fighters from both countries as well as foreign recruits from around the...

  • *Shares in Emaar Malls Group rise 12.1 pct on Dubai bourse debut. DUBAI, Oct 2- Dubai's Emaar Properties plans to float its Egyptian unit in about June 2015 and may also take its hotels subsidiary public after the successful listing of its malls and retail business, the company's chairman said on Thursday. Emaar, Dubai's largest listed property developer, sold a...

  • *Shares in Emaar Malls Group rise 12.1 pct on Dubai bourse debut. DUBAI, Oct 2- Dubai's Emaar Properties plans to float its Egyptian unit in about June 2015 and may also take its hotels subsidiary public after the successful listing of its malls and retail business, the company's chairman said on Thursday. Emaar, Dubai's largest listed property developer, sold a...

  • *Sisi hails Suez Canal expansion as flagship project. CAIRO, Sept 30- In his first 100 days in office, Egyptian President Abdel Fattah al-Sisi has made a fast start on economic reform: slashing costly fuel subsidies, raising taxes and devising infrastructure projects to secure long-term revenues and ease unemployment.

  • DUBAI, Sept 29- Dubai's Emaar Properties has priced the initial share sale of its malls business at the top end of the proposed range, marking another milestone in the return of investor confidence in the Gulf Arab state after the financial crisis.

  • CAIRO, Sept 28- Egypt plans to invest $14.5 billion in developing its refining and petrochemicals sectors over the next five years, its oil minister said, as part of efforts to overcome an energy crisis that has led to near-daily power cuts and hit company profits.