GO
Loading...

Egypt

More

  • Egypt President: 'This is the new Egypt'  Thursday, 22 Jan 2015 | 4:20 AM ET

    At Davos, Abdel Fattah Al-Sisi, President of Egypt, says that the "new Egypt" is a civilised one, and says that terrorism is an issue that must be combated at its source.

  • *Oil's plunge boosts Egypt's economic prospects. *Global Telecom surges on Djezzy deal report. DUBAI, Jan 21- Low oil prices helped Egypt's stock index hit a 6-1/ 2- year closing high on Wednesday, as bets on property stocks and positive corporate news also buoyed sentiment.

  • *Saudi Telecom tumbles on Q4 earnings miss. DUBAI, Jan 20- Most Gulf stock markets closed either flat or lower on Tuesday as oil prices remained volatile and local companies delivered no positive fourth-quarter earnings surprises. However, the commodity's price rose above $49 per barrel later in the day, supporting Saudi Arabia's bourse which, unlike other Gulf...

  • *Qatar Islamic Bank falls despite strong results. DUBAI, Jan 19- Most Gulf equity markets pulled back on Monday as oil prices slipped again and negative fourth-quarter earnings weighed on Saudi Arabia's bourse. Saudi Arabia's main index slid 0.6 percent as petrochemicals giant Saudi Basic Industries fell 1.9 percent and Savola Group, the kingdom's biggest...

  • *Qatar National Bank drops after earnings miss. *Kuwait's Americana tumbles as sale falters. *Egypt extends gains on cheap oil, foreign investment hopes.

  • CAIRO, Jan 12- The successful roll-out so far of a new "smart card" system to distribute subsidised bread has been a major achievement for Egypt's government, saving money while earning praise from families who no longer have to wake early to fight for loaves. President Abdel Fattah al-Sisi appears to be succeeding where predecessors Hosni Mubarak and Mohamed...

  • *Saudi Arabia's market pares some losses after king's speech. *Dubai, Egypt drop as investors abandon emerging markets. DUBAI, Jan 6- Gulf stock markets extended their losses on Tuesday as Brent crude plunged for a second session in a row and the threat of a fresh euro zone crisis in Greece also prompted investors to sell risky assets globally.

  • BENGHAZI, Libya, Dec 31- Libya has made progress containing a fire at its largest oil port that has destroyed four days of the country's oil production but the damage to storage tanks will hamper efforts to resume exports, officials and industry insiders said. Both sides command forces made up of former rebel troops which helped oust Gaddafi but which are now...

  • *Retail investors drag Dubai down 5.4 percent. *Kuwait's CBK cuts Boubyan Bank stake by selling on open market. DUBAI, Dec 30- Gulf stock markets suffered broad sell-offs on Tuesday as Brent crude oil slumped to a fresh 5-1/ 2- year low and political uncertainty in Greece pressured global equities.

  • *UAE, Qatar retreat on profit-taking. DUBAI, Dec 29- Most Gulf stock markets pulled back on Monday after gaining strongly in the two previous sessions, but Saudi Arabia's petrochemicals sector rose after Brent crude oil climbed back above $60 per barrel. Although confidence in heavy state spending- underlined by Saudi Arabia's record 2015 budget plan, announced...

  • BEIRUT/ CAIRO, Dec 27- Syria said on Saturday it was willing to participate in "preliminary consultations" in Moscow aimed at restarting talks next year to end its civil war but the Western-backed opposition dismissed the initiative. Syrian state television quoted a source at the foreign ministry saying: " Syria is ready to participate in preliminary...

  • BEIRUT/ CAIRO, Dec 27- Syria said on Saturday it is willing to participate in "preliminary consultations" in Moscow aimed at restarting peace talks next year to end its civil war. Syrian state television quoted a source at the foreign ministry saying " Syria is ready to participate in preliminary consultations in Moscow in order to meet the aspirations of Syrians...

  • CAIRO, Dec 24- Kellogg Co, the world's largest maker of breakfast cereals, raised its bid for Egyptian snack maker Bisco Misr on Wednesday, topping a rival offer from UAE's Abraaj in an intensifying $144 million takeover battle. Kellogg's latest bid, for 89.86 Egyptian pounds per share, came on the heels of an offer earlier in the day by Abraaj Asset Management for...

  • CAIRO, Dec 24- Kellogg Co. has raised its bid for Egypt's Bisco Misr to 89.86 Egyptian pounds per share, topping a rival offer by the UAE's Abraaj, the head of Egypt's financial regulator said on Wednesday. Sherif Samy told Reuters by phone the bidding period would be extended by five days with each new offer, until sixty days after the first offer, when sealed bids...

  • UPDATE 2-Russia's grain exports stop - farm lobby Wednesday, 24 Dec 2014 | 7:59 AM ET

    *About 3 mln T of grain are now stuck in Russia- Union. *Wheat futures rise on Russia export curbs. Russia's main wheat buyers are Turkey, Iran and, very vulnerable to supply disruption, Egypt.

  • CAIRO, Dec 24- UAE's Abraaj Investment Management is seeking regulatory approval to raise its bid for Egypt's Bisco Misr to 88.09 Egyptian pounds a share, aiming to top a rival bid by Kellogg Co. as the deadline for the takeover of the snackmaker loomed. Abraaj said in a statement on Wednesday it had submitted a request valuing Bisco Misr at 1.013 billion pounds to...

  • Cramer: As ISIS grows, so do defense stocks Tuesday, 23 Dec 2014 | 6:56 PM ET
    A KC-135 Stratotanker from Fairchild Air Force Base, Wash., refuels a B-1B Lancer during a training exercise Sept. 23, 2014, over South Dakota.

    As the U.S. reduces its military budget, Jim Cramer sees allied countries are arming themselves. This is good news for one group of stocks.

  • *Egypt expects to save $4.2 bln due to cheap oil in 2014/ 15. *Gulf allies provided $10.6 bln in aid to Egypt last year. CAIRO, Dec 23- The fall in global oil prices will cut Egypt's fuel subsidy bill but could hit the finances of oil-exporting Gulf allies who have showered it with billions of dollars in aid.

  • Keep an eye on these emerging market cities Monday, 22 Dec 2014 | 12:00 PM ET
    Vehicle light trails pass the Kingdom Tower on King Fahad Road in Riyadh, Saudi Arabia.

    The fastest growth is not in megacities like Tokyo, but second-tier ones that many Americans have never heard of.

  • *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.