Business News Egypt

  • JERUSALEM, July 22- The rise in new suppliers of oil and gas has reduced the ability of Iran to influence global oil markets, U.S. Perry was in Israel to meet his Israeli counterpart, Yuval Steinitz, and Prime Minister Benjamin Netanyahu on a variety of issues and will head to Egypt later this week for a natural gas forum to discuss international energy cooperation.

  • *French exports eroded by cheap, good-quality Black Sea supply. PARIS, July 22- A French export alliance of grain cooperatives to take on the challenge of Black Sea supplies may not be enough to stop the EU's top exporter losing the vital Algerian market to Russian wheat, traders and analysts said. Russia's rise to become the world's biggest wheat exporter has...

  • WASHINGTON, July 21- White House senior adviser Jared Kushner will lead a U.S. delegation on a tour of the Middle East to finalize details of his proposed $50 billion economic development plan for the Palestinians, Jordan, Egypt and Lebanon, an administration official said on Sunday. Kushner, Middle East envoy Jason Greenblatt, State Department official Brian...

  • PARIS, July 21- Air France, Emirates and Etihad Airways are continuing to operate flights to Cairo after British Airways and Lufthansa suspended services to Egypt's capital. International Airlines Group's British Airways suspended flights on Saturday for seven days "as a security precaution" as it reviews security at Cairo airport. Germany's Lufthansa...

  • PARIS, July 21- Air France is maintaining its flights to Cairo, a spokesman for the airline said on Sunday, following the decision by rivals British Airways and Lufthansa to suspend flights to Egypt's capital over security concerns. British Airways, a unit of IAG said on Saturday it was suspending flights to Cairo for seven days "as a precaution" as it reviews the...

  • CAIRO, July 20- British Airways abruptly suspended all flights to Cairo for a week from Saturday over security concerns, giving no details about what prompted the move. "We constantly review our security arrangements at all our airports around the world, and have suspended flights to Cairo for seven days as a precaution to allow for further assessment," it said in a...

  • CAIRO, July 20- British Airways abruptly suspended flights to Cairo for a week from Saturday over security concerns, giving no details about what had prompted the move. "We constantly review our security arrangements at all our airports around the world, and have suspended flights to Cairo for seven days as a precaution to allow for further assessment," it said in a...

  • BRITISH AIRWAYS SUSPENDS FLIGHTS TO CAIRO FOR SEVEN DAYS "AS A PRECAUTION"- STATEMENT.

  • Chicago, July 17- Chicago wheat and soybean futures settled slightly lower on Wednesday as forecasts for cooler weather lifted expectations for better crop conditions after this week's hot spell, though corn edged higher. He added that until the USDA releases its revised acreage report on Aug. 12, the weekly crop progress reports may not have as much impact as...

  • CAIRO, July 17- Egypt's economy grew 5.6% in the 2018/ 19 fiscal year and is "on the right track" as it completes IMF-backed reforms, Prime Minister Mostafa Madbouly said on Wednesday. Egypt is emerging from a three-year economic reform programme tied to a $12 billion loan from the International Monetary Fund. Madbouly said Egypt's primary surplus stood at 2% for...

  • PARIS/ SINGAPORE, July 17- Chicago corn and soybeans futures edged up on Wednesday, steadying after a two-day fall as traders assessed crop prospects in the U.S. Wheat futures lost ground as advancing harvests in the United States and Europe, plus an Egyptian import tender dominated by Black Sea origins, kept attention on abundant world supply.

  • SINGAPORE, July 17- Chicago corn and soybean futures slid for a third consecutive session on Wednesday as improved weather in parts of the U.S. The most-active corn contract on the Chicago Board Of Trade was down 0.3% at $4.40 a bushel, as of 0207 GMT, having closed 1.3% lower in the previous session. Soybeans were down 0.1% at $9.05 a bushel, having closed 1.5% weaker...

  • BUCHAREST, July 15- The union representing workers at ADM's North Star Shipping grain silos in Romania's Black sea port of Constanta said on Monday an indefinite strike scheduled to start on July 15 had been averted after reaching an deal on wages. An indefinite strike at the Constanta port silos could have severely impacted grain supplies to Egypt, the world's...

  • CAIRO, July 11- Egypt's arrears to foreign oil companies declined to $900 million at the end of June from $1.2 billion a year ago, the petroleum minister said on Thursday, adding that the remaining amount would be paid soon. Tarek el-Molla also told Reuters that total monthly payments by Egypt to foreign oil companies stood at $700 million. Italy's ENI, BP, Royal...

  • Roadside vendors in Lagos central district, Nigeria.

    Leaders from 54 African nations have worked out a massive deal they hope will connect 1.3 billion people, create a $3.4 trillion economic bloc, and heat up commerce within the continent itself.

  • WASHINGTON, July 9- Chevron Phillips Chemical and Qatar Petroleum signed an agreement on Tuesday to develop an $8 billion petrochemical plant along the U.S. Gulf Coast, the second pact between the companies to build such plants in the last few weeks. Last month the companies announced they would build a petrochemical plant north of Doha in Ras Laffan Industrial...

  • *USDA sees U.S. crops in reasonable state. CHICAGO, July 9- Chicago corn and wheat futures fell on Tuesday after the U.S. Department of Agriculture raised its condition ratings for both grains and more crop-friendly weather was forecast in the Midwest. Soybean futures turned higher, rallying from early declines, supported by a decline in weekly USDA crop...

  • CHICAGO, July 8- Chicago corn and soybean futures settled higher on Monday after a seesaw trading session. "Hot and dry weather is nice for a week or 10 days," said Dan Basse of AgResource Co. "The ideal situation is warm weather with frequent showers." Chicago Board Of Trade September corn futures settled up 3/ 4 of a cent at $4.39-1/ 2 a bushel.

  • After four years of talks, an agreement to form a 55- nation trade bloc was reached in March, paving the way for Sunday's African Union summit in Niger where Ghana was announced as the host of the trade zone's future headquarters and discussions were held on how exactly the bloc will operate. "The eyes of the world are turned towards Africa," Egyptian President and...

  • Potential for Africa's $3.4 trillion economy is massive. "The eyes of the world are turned to Africa," Egyptian President and African Union Chairman Abdel Fattah al-Sisi said at the summit's opening ceremony. Africa has much catching up to do: its intra-regional trade accounted for just 17% of exports in 2017 versus 59% in Asia and 69% in Europe, and Africa has...