Economy

No price like home: Big spenders reappear in China

A woman walks past a boutique of the Burberry luxury goods company in Beijing, China, December 1, 2016. REUTERS/Thomas Peter
04 Dec 2016
China's wealthiest shoppers are spending at home again, roused from a three-year slumber by a weaker yuan, lower prices and a crackdown on overseas sales agents - a welcome boost for the world's luxury brands.   China's...
Yes

Deutsche Bank to pay $60 million to settle U.S. gold price-fixing case

A Deutsche Bank logo adorns a wall at the company's headquarters in Frankfurt, Germany June 9, 2015. 
03 Dec 2016
Deutsche Bank AG has agreed to pay $60 million to settle private U.S. antitrust litigation by traders and other investors who accused the German bank of conspiring to manipulate gold prices at their expense.   The preliminary...
Yes

OPEC to meet non-OPEC producers on December 10 in Vienna: sources

03 Dec 2016
OPEC will meet non-OPEC countries to finalize a global oil limiting pact on December 10 in Vienna, two sources told Reuters on Saturday.   Two OPEC sources earlier said the meeting was due to take place in the Russian capital Moscow,...
Yes

Egypt's CIB sells 72 pct of investment arm to local, Gulf investors

CIB
03 Dec 2016
Egypt's largest listed lender CIB sold a near-72 percent stake in its investment banking arm CI Capital to Egyptian and Gulf investors on Thursday, as part of a move to shed subsidiaries and focus on core actives.   Commercial...
Yes

Egypt accepts six bids for oil and gas exploration

gas field in the Mediterranean off Egypt
03 Dec 2016
Egypt has accepted six bids for oil and gas exploration worth a total investment of up to $200 million, the Ministry of Petroleum said on Friday.   In May, the General Authority for Petroleum announced an international tender for 11...
Yes

Unemployment drops to 4.6%, lowest since 2007

02 Dec 2016
America kept hiring amid election shock.  The U.S. economy added 178,000 jobs in November, the Labor Department reported Friday, and the unemployment rate fell sharply to 4.6% front m 4.9% in October.  It's the lowest rate...
Yes

Oil prices, US dollar leap on OPEC deal news

01 Dec 2016
Oil prices and energy shares swept higher on Thursday after OPEC agreed to cut crude output to clear a recent glut, while the dollar and bond yields rose sharply on prospects that resulting inflationary pressures will lead to higher...
Yes

Oil slip sends dollar, bond yields skidding

28 Nov 2016
The dollar saw its biggest drop in almost a month on Monday, as a bashing for oil prices on doubts about an OPEC output cut this week left investors reversing "Trumpflation" trades that have gripped markets since the US election...
Yes

Saudi Arabia wants OPEC to solve own problems before meeting non-OPEC

27 Nov 2016
Top OPEC oil exporter Saudi Arabia has told the producer group it will not attend talks on Monday with non-OPEC producers to discuss limiting supply, OPEC sources said, as it wants to focus on having consensus within the organization first...
Yes

Cairo Airport Travel achieves 20% growth during Q3

27 Nov 2016
Cairo Airport Travel company achieved growth in reservations reaching up to 20 percent during the third quarter (Q3) of the year. Cairo Airport Travel chairman Ali al-Halabi told the privately-owned Al-Borsa newspaper that the company...
Yes