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Business Egypt

  • *World's largest buyer paying hefty premium to feed its poor. CAIRO, Oct 17- Wheat shipments to Egypt, the world's largest buyer, are being disrupted by a dispute involving government inspectors angered by a ban on the expenses-paid foreign trips they once enjoyed to approve cargoes at their ports of origin. Those trips, funded by exporters, have been cancelled as...

  • Signs of optimism in Egypt

    Sahar Nasr, Egypt's minister of investment and international cooperation, discusses the investment environment in the north African country.

  • CAIRO, Oct 10- Uber is committed to Egypt despite challenges presented by sweeping economic reforms and record inflation, the company said on Tuesday as it announced $20 million of investment in its new support center in Cairo. "Those reforms don't change in any way Uber's commitment to Egypt. We're here to stay and we'll continue to invest to be able to serve...

  • HARARE, Oct 6- After defying economic gravity for a year, Zimbabwe's homemade U.S. dollars have fallen to earth with a bump. The worthless Zimbabwe dollar was replaced by the U.S. dollar in 2009 but the economy has struggled over the last 18 months because of a massive domestic shortage of greenbacks. "I am really scared that I will wake up one day and find my money in the...

  • *Egypt falls for first time in six days. DUBAI, Oct 3- Egypt's stock market fell on Tuesday, ending a six-day winning streak that took the blue-chip index to an all-time high, while Gulf bourses traded narrowly but a couple of petrochemical shares boosted Saudi Arabia. "After hitting 14,100 points on Monday, it is normal to see such an adjustment on Tuesday- the market...

  • *Saudi blue chips down on FTSE decision to delay upgrade. DUBAI, Oct 1- The Saudi stock index fell on Sunday after news that index compiler FTSE had decided to delay including Riyadh in its secondary emerging market index, while Kuwaiti blue chips were strong after FTSE included Kuwait. In its annual country classification review on Friday, FTSE praised Riyadh's...

  • BUDAPEST- Hungarian Central Bank non-rate-setting meeting. SYDNEY- Reserve Bank of Australia monetary policy decision meeting- 0330 GMT. THURSDAY, OCTOBER 5 MELBOURNE- Panel participation by Guy Debelle, Deputy Governor of the Reserve Bank of Australia, at the Melbourne Institute Macroeconomic Policy Meeting 0530 GMT.

  • BUDAPEST- Hungarian Central Bank non-rate-setting meeting. SYDNEY- Reserve Bank of Australia monetary policy decision meeting- 0330 GMT. WEDNESDAY, OCTOBER 4 BUDAPEST- Hungarian Central Bank to publish the minutes of its September rate-setting meeting 1200 GMT.

  • CHISINAU, Moldova- National Bank of Moldova interest rate decision. SUVA, Fiji- Reserve Bank of Fiji board meeting to announce interest rates. FRIDAY, SEPTEMBER 29 BOGOTA- Bank of Colombia holds board of director's meeting.

  • CAIRO, Sept 26- Egypt has made a "good start" to its reform programme despite seeking waivers for missing targets in June and a deeper-than-expected currency depreciation, the International Monetary Fund said on Tuesday. In a review since the deal, the IMF said Egypt should receive a third loan instalment of around $2 billion after a second check of progress at the...

  • TUESDAY, SEPTEMBER 26 ABUJA- Central Bank of Nigeria monetary policy meeting and interest rate announcement. CHISINAU, Moldova- National Bank of Moldova interest rate decision. SUVA, Fiji- Reserve Bank of Fiji board meeting to announce interest rates.

  • *Dana Gas loses 1.27 pct. It has been hurt by the economic and political boycott of Qatar by Saudi Arabia, the United Arab Emirates, Bahrain and Egypt. A London High Court judge on Tuesday adjourned a trial on Dana Gas and its creditors until Thursday after a UAE injunction issued last Sunday prevented the company from taking part in the proceedings.

  • *Egypt exports to hit $22 billion for 2017. CAIRO, Sept 19- Egypt's exports should grow about 10 percent this year to reach $22 billion, Trade Minister Tarek Kabil said on Tuesday, as the country lures foreign investors keen on setting up manufacturing following economic reforms. Egypt has been trying to market itself as a manufacturing hub for foreign investors,...

  • *Qatar snaps 11- session losing streak. DUBAI, Sept 19- Qatar's stock index came slightly off a five-year low on Tuesday as local funds intensified their buying of those shares, while Saudi Arabia was the region's worst performer. In Abu Dhabi, Dana Gas rose 1.3 percent ahead of a London High Court hearing on Monday and Tuesday over the validity of its sukuk.

  • *Egypt in market for first time since French cargo halted. DUBAI/ CAIRO, Sept 19- Egypt's state grain buyer GASC received fewer offers and was quoted higher prices in a wheat tender on Tuesday, as traders held back due to a dispute over two blocked import cargoes. One Cairo- based trader said prices offered included a risk premium of between $4 and $11 a tonne.

  • The skyline of Doha, Qatar.

    According to Qatar's economy and trade minister, the state's finances are faring "better than ever."

  • *Cairo plans 1.5 bln euro debt issue by end Nov. CAIRO, Sept 17- Egypt will issue a 1.5 billion euro bond by the end of November and plans to launch a new $10 billion Eurobond program next year, the Boursa newspaper reported on Sunday. Finance Minister Amr El Garhy told the newspaper that Cairo planned to sell Eurobonds worth $3 billion to $4 billion in the first quarter...

  • CAIRO, Sept 17- Egypt will issue a 1.5 billion euro bond by the end of November and then plans to launch a new $10 billion Eurobond program next year, the Boursa newspaper reported. Finance Minister Amr El Garhy told the newspaper that Cairo planned to sell eurobonds worth $3 billion to $4 billion in the first quarter of 2018, but did not give a detailed timetable for...

  • The Doha Skyline at the Sheraton Grand Hotel on November 17, 2016 in Doha, Qatar.

    Countries that started a regional blockade against Qatar are actually dependent on trade with the gas-rich state, Qatar National Bank said.

  • *Sukuk holders propose settlement to Dana Gas. *Orascom Construction up after JV signs $320 mln deal. DUBAI, Sept 14- Telecommunications shares weighed on the Saudi Arabian stock market on Thursday after authorities moved to remove the ban on voice and video calls over the Internet, while Qatar continued to fall as foreign buyers intensified their selling.