When plans for Qatar to create a €50 m euro fund to invest in some of Paris's poorest suburbs emerged last month, the French political right and left united in disapproval. Yet the reaction shows a fundamental misunderstanding of the way Qatar operates globally and what it is trying to achieve.» Read More
CAIRO, July 18- Egypt's central bank said it received $3 billion in aid from the United Arab Emirates on Thursday, part of $12 billion that Gulf Arab states pledged after the military ousted Islamist President Mohamed Mursi early this month.
CAIRO, July 17- Egypt's new military-backed government faces intense pressure to repair the state's chaotic finances but is likely instead to spend billions, hoping to raise living standards and get protesters off the streets.
LONDON, July 16- Sooner or later OPEC members will have to reduce output to reflect their reduced share of the global oil market. The only real questions are how much of the burden of cutting production will fall on Saudi Arabia and whether they will be implemented through the framework of OPEC or unilaterally.
CAIRO, July 15- Aid from Arab states will carry Egypt through its transition period, and it does not need to restart negotiations with the IMF now, the man named planning minister in the interim government said on Monday. Since Mursi was toppled, Saudi Arabia, the United Arab Emirates and Kuwait have offered Egypt $12 billion in cash, loans and fuel aid.
*Egypt is the largest importer of Russia's wheat. *Russia may supply wheat to Egypt from state stocks- AgMin. MOSCOW/ ABU DHABI, July 15- Russia's Agriculture ministry offered to hold discussions on possible humanitarian deliveries of wheat to Egypt, a reversal of policy that Egyptian officials and traders interpreted as a sign of political support.
CAIRO, July 14- Egypt's interim prime minister filled senior posts on Sunday in a cabinet that will lead the country under an army-backed "road map" to restore civilian rule following overthrow of elected President Mohamed Mursi. He named another liberal economist, Ahmed Galal, who has a doctorate from Boston University, as finance minister.
*Gulf states commit $12 billion aid to Egypt. CAIRO, July 11- A cash injection from Gulf states to Egypt will spur wheat and oil purchases as the country seeks to rebuild depleted stocks, banks said.
RIYADH/ DOHA, July 11- The $12 billion in aid Saudi Arabia, the United Arab Emirates and Kuwait offered Egypt this week showed their delight at the army's ousting of President Mohamed Mursi in a reversal for Islamists empowered by the Arab ferment of 2011..
*New Egypt energy minister will face huge challenges. LONDON, July 11- None of the new ministers to be appointed by Egypt's military-backed leaders faces an easy task, but perhaps special sympathy should be reserved for the brave soul who takes on the energy ministry.
*Hedge funds, some banks showing interest in Egypt debt. *Little motive for Egypt to default despite reserve pressures. *Egypt bonds look attractively priced versus Lebanon.
CAIRO, July 11- Egypt has less than two months' supply of imported wheat left in its stocks, ousted President Mohamed Mursi's minister of supplies said, signalling that a shortage is more acute than previously revealed. Egypt is the world's largest importer of wheat, half of which it distributes to its 84 million people in the form of heavily subsidised bread.
CAIRO/ DUBAI, July 10- Twelve billion dollars in aid from Egypt's wealthy Gulf allies have bought Cairo a window of several months to try and stabilise its politics and repair its state finances- or face fresh economic turmoil.
Secretary of State John Kerry extended his Middle East peace mission on Saturday, shuttling between Jerusalem and Amman for more talks with Israeli and Palestinian leaders on reviving their stalled negotiations. Cancelling a trip to Abu Dhabi, Kerry flew from Jerusalem to the Jordanian capital for a second meeting with Palestinian President Mahmoud Abbas.
Secretary of State John Kerry extended his Middle East peace mission on Saturday, shuttling between Jerusalem and Amman for more talks with Palestinian and Israeli leaders on reviving their stalled negotiations.
Secretary of State John Kerry extended his Middle East peace mission on Saturday, shuttling between Jerusalem and Amman for more talks with Palestinians and Israelis on reviving their stalled negotiations.
DUBAI, June 26- Saudi Telecom Co is a company with a market capitalisation of $21 billion but no permanent chief executive.
LONDON, June 25- Oil's fall below the $100 a barrel favoured by OPEC exposes the deepening divide between countries in the group better able to cope with a lower price and those most hurt by it, making collective action to halt any further price slide harder.
Oil traders should not lose too much sleep worrying about what OPEC, often unpredictable and quarrelsome in the past, will do when it meets next week.
GREEN BAY, Wisconsin- President Barack Obama and Republican Mitt Romney were back on the attack on Thursday, breaking a storm-induced campaign truce to hit the road and pound home their closing messages in the final stretch of a tight battle for the White House.
LONDON- Britain threatened on Thursday to veto any deal on the European Union budget that is not good for the British taxpayer, a day after a humiliating defeat in parliament undermined Prime Minister David Cameron's authority.