Egypt
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In the haze around Egypt's latest bout of turmoil, the nation’s largest companies are struggling to adapt as the Islamist government is once again forced to focus on a fast-changing political crisis rather than the economy, the New York Times reports.
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The European Commission this week said it was putting on hold transfers of money due to Poland for road projects, which could add up to about 5 billion euros, because it wants assurances the alleged fraud could not be repeated on other projects in Poland, the biggest recipient of European Union funds.
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BAMAKO/ TIMBUKTU, Mali- Human rights groups said on Friday a French-led offensive against Islamists in Mali had led to civilian deaths in airstrikes and ethnic reprisals by Malian troops, a day before President Francois Hollande was due to visit the country.
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"I wouldn't read too much into it," said Carsten Fritsch, an oil analyst at Commerzbank in Frankfurt, adding he expected oil prices to make further gains this week. Brent slipped 23 cents to $114.67 a barrel by 1452 GMT, after earlier hitting $115.25, the highest since Oct. 16.
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"I wouldn't read too much into it," said Carsten Fritsch, an oil analyst at Commerzbank in Frankfurt, adding he expected oil prices to make further gains this week. And we have these ongoing supply risks in the Middle East and North Africa, with more and more countries coming into the spotlight, like Algeria and Egypt. "
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In the haze around Egypt's latest bout of turmoil, the nation’s largest companies are struggling to adapt as the Islamist government is once again forced to focus on a fast-changing political crisis rather than the economy, the New York Times reports.
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SIENA, Italy, Jan 30- Prosecutors are investigating the former management of Italy's troubled Monte dei Paschi bank for bribery and fraud, judicial sources said on Wednesday, as pressure grew on the Bank of Italy and bourse watchdog Consob.
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Israel conducted a rare airstrike on a military target inside Syria near the border with Lebanon, foreign officials and Syrian state TV said Wednesday, amid fears President Bashar Assad's regime could provide powerful weapons to the Islamic militant group Hezbollah.
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SIENA, Italy, Jan 30- Prosecutors are investigating the former management of Italy's troubled Monte dei Paschi bank for bribery and fraud, judicial sources said on Wednesday, as pressure grew on the Bank of Italy and bourse watchdog Consob.
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David Butter, associate fellow at Chatham House, contemplates the difficulties of recovery and restoring confidence in Egypt.
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NEW YORK, Jan 30- Fitch Ratings on Wednesday cut Egypt's sovereign credit rating one notch to B from B-plus, citing a wider budget deficit and instability caused by the country's political transition.
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CAIRO, Jan 30- With violence sweeping Egypt's cities and the economy lurching deeper into crisis, each passing day is adding new bricks to a wall of mistrust between the Islamist-led government of President Mohamed Mursi and a fractured secular opposition.
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DUBAI, Jan 30- At an economic summit of Arab leaders in Riyadh last week, Saudi Arabia's crown prince called for a minimum 50 percent increase in the capital of a fund that lends money for development projects around the region.
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SIENA, Italy, Jan 30- Italy's market regulator Consob joined the government and the Bank of Italy on Wednesday in defending its oversight of Monte Paschi as magistrates investigated allegations of bribery and accounting malpractice at the historic bank.
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CAIRO, Jan 29- Egypt's state wheat buyer said on Tuesday that it would meet the debt-laden country's needs and did not have financial problems, adding there were enough stocks to last until June 22. Egypt's army chief said political unrest was pushing the state to the brink of collapse.
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*Army had ruled Egypt in transition after Mubarak fell. Abdel Fattah al-Sisi, a U.S.-trained general appointed by President Mohamed Mursi last year to head the armed forces, added in a statement on Tuesday that one of the primary goals of deploying troops in cities on the Suez Canal was to protect the waterway that is vital for Egypt's economy and world trade.
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LONDON, Jan 29- Brent crude oil stayed close to three-month highs on Tuesday above $113 after U.S. data pointed to a strengthening housing market, raising hopes of faster economic growth and higher fuel demand.
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*Army had ruled Egypt in transition after Mubarak fell. Abdel Fattah al-Sisi, a U.S.-trained general appointed by President Mohamed Mursi last year to head the armed forces, added in a statement on Tuesday that one of the primary goals of deploying troops in cities on the Suez Canal was to protect the waterway that is vital for Egypt's economy and world trade.
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LONDON, Jan 29- Brent crude oil held above $113 on Tuesday as traders awaited data to gauge the strength of the economies of the United States and China, the world's largest oil consumers. Sentiment was boosted on Monday after business spending data from the United States helped reinforce the belief that a recovery was taking root.
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Egypt's army chief said political strife was pushing the state to the brink of collapse - a stark warning from the institution that ran the country until last year, as Cairo's first elected leader struggles to contain bloody street violence.
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LONDON, Jan 29- Brent crude oil held above $113 on Tuesday as traders awaited data to gauge the strength of the economy of the United States, the world's largest oil consumer. Sentiment was boosted on Monday after business spending data from the United States helped reinforce the belief that a recovery was taking root.