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  • IMF says Gaza reconstruction moving slowly Wednesday, 20 May 2015 | 7:27 AM ET

    GAZA CITY, Gaza Strip— The reconstruction of the Gaza Strip is going "far more slowly than expected" after a devastating war between Israel and the Hamas militant group last year, the International Monetary Fund said this week. The pledges were made at an international conference in Cairo after the end of the 50- day war last summer between Israel and Gaza's Hamas...

  • Immediately after the announcement, Egypt's EGX 30 index rose 3.3 percent to 8562.07, according to Egypt's official news agency. Egypt's economy has been reeling since the 2011 uprising that ousted longtime autocrat Hosni Mubarak. Tourists-- one of Egypt's main sources of revenue-- fled, while growth rates fell from more than 7 percent before the uprising to...

  • CAIRO— Al-Jazeera English journalist Mohammed Fahmy, who faces a retrial in Egypt after more than a year behind bars on terrorism-related charges, says he has filed a lawsuit in Canada against the Al-Jazeera network. At a press conference Fahmy, who at the time of his arrest was Al-Jazeera English's acting bureau chief in Egypt, accused the Qatari-funded...

  • *Iran- allied Houthi forces accept truce to let in aid. *UAE welcomes move, hopes they won't act as Iran proxy. CAIRO/ ADEN, May 10- Yemen's dominant Houthi group accepted a five-day humanitarian ceasefire proposed by its adversary Saudi Arabia on Sunday but said it would respond to any violations of the pause.

  • *CEO Mike Coupe found guilty of embezzlement by Egypt court. Chief Executive Mike Coupe attended a court hearing in Giza last Sunday to try to overturn the conviction which related to the collapse of an Egyptian business which Sainsbury's had invested in over a decade ago. "We are aware of media coverage today outlining a legal case in Egypt brought against our...

  • *Yemen faces mounting humanitarian crisis. LONDON, April 27- Yemen is facing mounting problems bringing in food by sea as the danger from fighting between Houthis and government supporters is exacerbated by an arms blockade by Saudi-led coalition navies searching ships for weapons destined for the rebels. The Arabian peninsula's poorest country, Yemen...

  • CAIRO, April 26- Egypt's currency black market, a thorn in the side of successive governments, has virtually disappeared in the past two months following a central bank crackdown. The black market had flourished as a slump in tourism and investment since the overthrow of Hosni Mubarak in 2011 limited supply of hard currency-- undermining an image of relative...

  • The trade, known as Alexandria, is at the heart of a scandal that rocked Monte dei Paschi in 2012 just as it was being hit hard by the euro zone debt crisis. The bank emerged as the weakest lender in a Europe- wide review of lenders last year and has been told by the European Central Bank to close the Alexandria trade because its exposure to Nomura breaches regulatory...

  • DIARY- Emerging Markets Economic Events to May 5 Wednesday, 22 Apr 2015 | 8:02 PM ET

    CAIRO- Central Bank of Egypt holds Monetary Policy Committee Meeting- 0100 GMT. BANGKOK- Bank of Thailand holds Monetary Policy Committee meeting. MOSCOW- Central Bank of Russia announces interest rate decision- 1000 GMT.

  • DIARY- Emerging Markets Economic Events to May 4 Tuesday, 21 Apr 2015 | 8:02 PM ET

    WASHINGTON- World Bank President Jim Yong Kim speaks at the global philanthropy forum- 1500 GMT. CAIRO- Central Bank of Egypt holds Monetary Policy Committee Meeting- 0100 GMT. BANGKOK- Bank of Thailand holds Monetary Policy Committee meeting.

  • Dubai counting on security, money, international links. Dubai is launching a drive to become one of the Arab world's top centres for art, design, film and fashion- areas that have traditionally been dominated by old Arab cities outside the Gulf. But Dubai has advantages which the old cities can find it hard to provide: security, cosmopolitan lifestyles and...

  • MILAN, April 10- Italian bank Monte dei Paschi di Siena said on Friday it had overstepped regulatory limits with regards to its financial exposure to Japanese bank Nomura, in a surprise disclosure that could raise questions about whether the Italian lender's plans to raise capital and seek a buyer are on track. Monte dei Paschi di Siena, Italy's third largest...

  • SANAA, April 7- Warplanes from a Saudi-led air coalition on Tuesday bombed a military base in central Yemen controlled by Houthi fighters and their army allies, and a website of the Houthi-run defence ministry said two students were killed at a neighbouring school. Military sources said five bombs were dropped on the Republican Guard base near the city of Ibb,...

  • ADEN, April 6- Southern Yemeni militias backed by warplanes from a Saudi-led coalition attacked Houthi fighters across several provinces in south Yemen on Monday, driving the Shi'ite rebel forces from some of their positions, witnesses and militia sources said. The fighting has killed hundreds of people, cut off water and electricity supplies and led the...

  • Relief from outside appeared distant as the International Committee of the Red Cross told Reuters that it had yet to arrange a flight to deliver 48 tons of medical supplies despite gaining Saudi approval for the aid on Saturday night. The International Committee of the Red Cross, which for days blamed the Saudi-led coalition for delays, told Reuters on Monday...

  • Street fighting and heavy shelling has for several days torn through the city, the last bastion of support for Saudi-backed president Abd-Rabbu Mansour Hadi. Relief from outside appeared distant as the International Committee of the Red Cross told Reuters that it had yet to arrange a flight to deliver 48 tons of medical supplies despite gaining Saudi...

  • BEIJING, April 2- A Chinese Internet regulator on Thursday slammed as "unacceptable" a decision by Google Inc to no longer recognize its certificates of trust, a move which could deter Chrome browser users accessing sites approved by the authority. Last week CNNIC's certificates, which are used to ensure that the connection between an Internet user and a website...

  • CAIRO, March 31- The public tranche of Egyptian foodmaker Edita's secondary share issue on the Cairo bourse was 4.5 times oversubscribed, the company said in a statement on the stock exchange on Tuesday. The company launched a private institutional offering of shares on the Egyptian stock exchange and global depository receipts on the London Stock Exchange...

  • Syria taps world wheat market as stocks run down Monday, 30 Mar 2015 | 10:44 AM ET

    *Syria draws on strategic wheat reserves for bread programme. ABU DHABI/ LONDON, March 30- Weeks after Syria said it had no need for wheat imports, the government plans to import 150,000 tonnes and has introduced ways to conserve grain stocks in signs of the growing strain on food supplies from conflict in the country. Before the war, Syria kept annual strategic...

  • What another war in the Middle East means Thursday, 26 Mar 2015 | 2:56 PM ET
    Yemen

    Americans "need to understand just how important a threat Yemen can be," says one analyst.