These are the stocks posting the largest moves before the bell.Market Insiderread more
Damage to the top OPEC producer's oil facilities ignited fears of supply disruption around the world and has sent crude prices soaring.Energyread more
The second-largest investor in Kraft Heinz Company discloses that it has again trimmed its stake in the food company.Marketsread more
Retailers could be in for a jolly jump in holiday sales despite headwinds like the U.S.-China trade war and threat of another economic slowdown.Retailread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
Apple isn't trying to blow our minds with groundbreaking new features on the iPhone 11, but is making lots of little improvements each year, this year focusing on cameras and...Technologyread more
The move is the latest sign of the blurring boundaries between big tech and big finance amid challenges for both industries.Financeread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Pizza Hut is also talking with Kellogg and other suppliers about the plant-based meat trend.Restaurantsread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
(Adds details, background)
CAIRO, Sept 8 (Reuters) - Egyptian digital payments company Fawry plans to expand into the United Arab Emirates by the end of the year and also hopes to enter Saudi Arabia and Kuwait in 2020, its managing director said.
Founded in 2009, Fawry offers digital payments to companies and individuals in Egypt, the Arab world's most populous nation, where many do not have a bank account.
Mohamed Okasha told Reuters that Fawry, which made a stock market debut in August, planned to complete a deal with one of the largest listed UAE banks to use its technology platform in the Gulf country.
He declined to identify the bank or value of the deal.
"We are looking at Arab countries where many Egyptians live whom we can offer many services such as bill payments," he said. "We hope to enter the Saudi and Kuwaiti markets in 2020," he added, without giving more details.
Okasha said Fawry, which is owned by local and foreign investment funds and dominates the Egyptian market, had no plans to expand to Africa, as speculated by some analysts.
"Egypt is a huge market with 100 million people. We don't find an African market as large as that. We still find big growth chances (in Egypt)," he said.
The firm invests between 250 million pounds and 300 million pounds annually from their own resources. It plans to have 300 "Fawry plus" branches, which offer most services, within five years, compared to 70 now, he said. It also has 105,000 service points.
Fawry handles around 2.1 million transactions daily and collected 40 billion pounds ($2.43 billion) last year, according to its website. It has around 20 million customers.
Its share price has risen to around 10.24 pounds from the debut of 6.46 pounds.
($1 = 16.4500 Egyptian pounds) (Reporting by Ehab Farouk and Ulf Laessing; editing by David Evans and Aidan Lewis)