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Egypt

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  • 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...

  • 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...

  • 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.

  • DUBAI, Sept 16- The opening of Saudi Arabia's stock market to direct foreign investment early next year is set to coincide with a pick-up in earnings growth in the kingdom, which has lagged the region in the past few years.

  • CAIRO, Sept 15- Egypt's tourism industry, battered by three years of political upheaval, violence and street protests, could fully recover by the end of next year if regional turmoil does not spread to the Arab world's biggest country, the tourism minister said.

  • CAIRO, Sept 15- Egypt's tourism industry, battered by three years of political upheaval and street protests, could fully recover by the end of 2015 if current levels of stability persist, the tourism minister said.

  • Islamic State's Twitter silence raises questions Friday, 12 Sep 2014 | 7:59 PM ET

    SAN FRANCISCO/ WASHINGTON, Sept 12- Islamic State's Twitter users, which have trumpeted the group's violent acts and worldview on the social media service, have gone abruptly quiet in past days.

  • *Cash-strapped Gaza under Israel- Egypt blockade. *Political infighting may impede Gaza recovery. GAZA/ NAHAL OZ, Israel, Sept 12- Fifty days of war in one of the most densely populated parts of the world have left swathes of Gaza in ruins.

  • Palestinian salaries dispute puts Gaza peace at risk Wednesday, 10 Sep 2014 | 9:23 AM ET

    GAZA/ JERUSALEM, Sept 10- Tensions between Fatah and Hamas, the two main Palestinian parties, are close to breaking point over the non-payment of salaries to Gaza's public sector workers, raising the risk of a return to conflict in the territory, officials say.