Business News Egypt

  • CAIRO, Sept 23- Thomas Cook operator Blue Sky Group said on Monday that 25,000 reservations in Egypt booked up to April 2020 had been cancelled.

  • CAIRO, Sept 23- Thomas Cook operator Blue Sky Group said on Monday that 25,000 reservations in Egypt booked up to April 2020 had been canceled.

  • Hundreds demonstrated in Cairo and other cities on Friday in response to online calls for protests against government corruption. Events over the weekend would "give cause for investors to reprice near-term political risks in Egypt", Farouk Soussa, senior Middle East and North Africa economist with Goldman Sachs, said in research note. Security forces moved...

  • CAIRO, Sept 22- Five Western countries including the United States, as well as Turkey and the United Arab Emirates, support Libyan state oil firm NOC as the sole legitimate authority for the country's energy sector, a joint statement said on Sunday. It was signed by the United States, the UK, Germany, France, Italy, the UAE and Turkey, it said. Haftar's forces have been...

  • CAIRO, Sept 22- Trading on Egypt's stock exchange was suspended on Sunday after the EGX 100 dropped by 5%, a fall that analysts linked to protests which broke out in Cairo and other cities over the weekend. It was the first suspension for such a sharp move in prices since 2016, when Egypt embarked on a three-year economic reform programme backed by the...

  • CAIRO, Sept 22- Egypt's main stock index lost more than 3% in early trading on Sunday and trading was suspended in at least 35 shares for 10 minutes after they fell by over 5%, bourse data showed. Orascom Construction fell by 6.16% and Palm Hills lost 8.26%. Witnesses said hundreds demonstrated in central Cairo and several other Egyptian cities against President...

  • EGYPT'S MAIN INDEX DOWN 1.8% AT OPENING ON SUNDAY AFTER WEEKEND PROTESTS.

  • *Chicago wheat and corn set for weekly gains. LONDON, Sept 20- Chicago wheat futures edged higher on Friday and was on track for a weekly gain, boosted by crop concerns and a pick-up in demand by major importers. The Chicago Board of Trade most-active wheat contract was up 0.5% at $4.90-1/ 2 a bushel at 1016 GMT and was on track for a weekly gain of 1.4%.

  • *Pompeo says U.S. building coalition against Iran threats. *Iran warns Trump against war. *Iran denies it is behind Saudi oil attack.

  • CAIRO, Sept 19- Halan, an Egyptian technology start-up that uses two- and three-wheeled vehicles to transport passengers and goods, will begin operating in Ethiopia before the end of 2019, its chief executive told Reuters. Founded in November 2017, it already operates in around 20 to 25 cities in Egypt and Sudan. "Adama is a very small place in Ethiopia, about 150 km...

  • *Iran warns trump against war. DUBAI/ JEDDAH, Sept 19- Iran warned U.S. President Donald Trump on Thursday against being dragged into all-out war in the Middle East following an attack on Saudi Arabian oil facilities which Washington and Riyadh blame on Tehran.

  • PARIS/ SINGAPORE, Sept 19- Chicago wheat inched higher on Thursday, holding close to a five-week high struck a day earlier as traders assessed dry weather risks around the world while awaiting a fresh demand pointer from weekly U.S. export sales data. The most-active wheat contract on the Chicago Board Of Trade was up 0.2% at $4.90-1/ 2 a bushel, as of 1143 GMT, having...

  • *Iran denies it behind Saudi oil attack. JEDDAH/ DUBAI, Sept 19- The United States was discussing with Saudi Arabia and other Gulf allies possible responses to an attack on Saudi oil facilities they blame on Iran and which U.S. President Donald Trump on Wednesday struck a cautious note, saying there were many options short of war with Iran, which denies involvement...

  • *USDA fails to report any new soy purchases by China. Midwest weather that has helped accelerate crop maturity in corn and soybeans and worrisome dryness in South America, where farmers in Argentina and Brazil are preparing to plant their next crops. Chicago Board of Trade November soybeans fell 5 cents to settle at $8.88-3/ 4 a bushel, while December corn rose 3-1/...

  • *USDA fails to report any new soy purchases by China. Midwest weather that has helped accelerate crop maturity in corn and soybeans and worrisome dryness in South America, where farmers in Argentina and Brazil are preparing to plant their next crops. Chicago Board of Trade November soybeans fell 3-3/ 4 cents to $8.90 a bushel by 12:33 p.m. CDT while December corn...

  • President Donald Trump on Wednesday said he ordered a major increase in sanctions on Iran as Saudi Arabia displayed remnants of drones and missiles it said Tehran used in a crippling weekend attack on its oil facilities. "I have just instructed the Secretary of the Treasury to substantially increase sanctions on the country of Iran! "They want to impose maximum......

  • LONDON, Sept 18- Saudi Arabia will try to maintain oil supplies to its major customers by drawing down crude stored at tank farms in the kingdom and in its global network while repairing and replacing installations damaged in the recent attacks. Saudi Arabia reported domestic crude stocks of 180 million barrels at the end of July, government data supplied to the...

  • PARIS/ SINGAPORE, Sept 18- Chicago corn prices firmed on Wednesday, steadying as attention shifted away from turbulent crude oil markets and towards prospects for the U.S. harvest now getting under way. Soybeans also steadied after easing on Tuesday, with investors similarly assessing the U.S. harvest outlook amid mild late-summer weather while awaiting...

  • JEDDAH/ DUBAI, Sept 18- Saudi Arabia said it would produce evidence on Wednesday linking regional rival Tehran to an unprecedented attack on its oil industry that Washington believes originated from Iran in a dangerous escalation of Middle East frictions. "They want to impose maximum... pressure on Iran through slander," Iran's President Hassan Rouhani said...

  • *Iran's supreme leader rules out talks with Washington. WASHINGTON/ DUBAI, Sept 17- The United States believes the attacks that crippled Saudi Arabian oil facilities last weekend originated in southwestern Iran, a U.S. official told Reuters on Tuesday, an assessment that further increases tension in the Middle East. Such intelligence, if shared publicly, could...