Egypt
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Karim Abadir, founding member of the Free Egyptians Party, talks to CNBC about Egypt's failing economy, and the lack of any coherent plan.
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SYDNEY, May 4- Australian livestock exporters said on Saturday they were suspending live cattle exports to Egypt after a graphic video purportedly showed animal cruelty in Egyptian abattoirs and prompted Canberra to launched an investigation.
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Authorities also lifted a travel ban against the brother, Nassef, chief executive of Orascom Construction Industries and their father Onsi, founder of the family's empire, Orascom Group. OCI is Egypt's biggest listed company and the Orascom Group is the country's largest private employer.
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*Says Australia, Brazil projects on track. *Q1 earnings $1.183 bln vs consensus of $1.098 bln. BG's chief executive Chris Finlayson, who took over from long-serving Frank Chapman at the end of 2012, said that a $20.4 billion project in Australia, QCLNG, was on track to start-up next year and added that oil developments in Brazil were also going to plan.
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*Blue-chip Qatar firms expanding around Middle East. Blue-chip bond issuers such as Qatar National Bank and telecommunications operator Ooredoo, formerly known as Qatar Telecom, are leading the M&A drive.
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TOKYO, May 2- Japan's AOC Holdings said on Thursday its upstream unit, Arabian Oil Co, has agreed to sell the entire stake in its Norwegian operations to Kuwait Foreign Petroleum Exploration Company.
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CAIRO, May 2- Ezz Steel, Egypt's biggest steel maker, said its 2012 net profit fell by more than half from the previous year to 250.4 million Egyptian pounds.
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0836 GMT- Egypt's large-cap Orascom Construction Industries. The settlement with the Egyptian Tax Authority should pave the way for OCI to go ahead with a plan for its Dutch-listed parent company to publicly tender for OCI shares listed on the Egyptian stock exchange, OCI said.
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CAIRO, May 2- Shares of Egyptian investment bank EFG Hermes dropped 5.5 percent at the opening of trade on Thursday after its planned tie-up with Qatar's QInvest failed on Wednesday. EFG agreed a year ago to spin off part of its assets to create an investment bank with operations spanning the Middle East, Africa and Turkey.
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LONDON, May 2- British oil and gas company BG Group, under pressure after a series of setbacks, delivered better-than-expected quarterly earnings on Thursday and gave reassurance that its huge growth projects were on track.
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DUBAI, May 2- Here are factors that may affect Middle East stock markets on Thursday. *UPDATE 8- Brent crude drops below $100 on weak data from China, US.
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CAIRO, May 2- A limited cabinet reshuffle will see six ministers replaced in Egypt, state newspaper al-Ahram said on Thursday, citing government sources.
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LONDON, May 1- Global consumer confidence rose in the first quarter, with a marked increase in sentiment in the United States, Japan and northern Europe, a survey showed on Wednesday. Indonesia overtook India as the most optimistic consumer market globally, according to the survey by global information and insights company Nielsen.
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*Deal failed to receive nod from Egypt regulator. *EFG co-CEOs under trial in Egypt on corruption charges. CAIRO/ DUBAI, May 1- EFG Hermes, one of the largest investment banks in the Middle East, plans to cut costs, sell non-core assets, and return cash to shareholders after a planned tie-up with Qatar's QInvest failed on Wednesday.
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CAIRO/ DUBAI, May 1- A proposed tie-up between Egypt's largest investment bank EFG Hermes and Qatar's QInvest has been terminated after the two parties failed to receive regulatory approval for the transaction in Egypt.
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CAIRO, May 1- EFG Hermes, the Middle East's top investment bank, said on Wednesday the long-stop date for completion of its deal with Qatari investment company QInvest had passed without approval by Egypt's financial regulator, and so the joint venture would automatically end.
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*Bankers see more deals coming out of Egypt, Turkey. That strategy underwent an abrupt shift late in 2012 when the bank agreed to buy the Egyptian operations of French lender BNP Paribas for $500 million, securing a foothold in Egypt and diversifying a business hit hard by debt problems at the Dubai state-linked firms it banked heavily.
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*Bankers see more deals coming out of Egypt, Turkey. That strategy underwent an abrupt shift late in 2012 when the bank agreed to buy the Egyptian operations of French lender BNP Paribas for $500 million, securing a foothold in Egypt and diversifying a business hit hard by debt problems at the Dubai state-linked firms it banked heavily.
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KHARTOUM, May 1- For Sudanese businessman Mohamed Ali the tedium of the evening hours is finally over- his favourite shisha cafe in the capital Khartoum has reopened after a two-year break.
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*Kuwait rises above 7,500 points. DUBAI, May 1- Dubai heavyweight Emaar Properties. Property developer Emaar reported a worse-than-expected net profit of 556 million dirhams in the quarter ended March 31, compared to 606 million dirhams in the same period a year ago.
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NEW DELHI, May 1- Reliance Industries, owner of the world's biggest refining complex, has raised its dependence on heavier grades from Latin America, replacing some of the Middle Eastern crude it used to purchase, tanker arrival data made available to Reuters showed.