Economy

MIDEAST STOCKS: Saudi, Egypt rise alongside global markets as oil steadies

© AFP/File | Emirati men sit under a stock market screen at the Dubai Financial Market (DFM) in Dubai, on January 30, 2011
 
 
 
03 Sep 2015
 Stock markets in Saudi Arabia and Egypt rose in early trade on Thursday, tracking global bourses as oil prices, which had moved Middle Eastern equities earlier in the week, were relatively stable. The main Saudi equity index gained 0...
Yes

Sisi urges Chinese partners to join Egypt’s development projects

03 Sep 2015
President Abdel Fattah Al Sisi urged on Wednesday the Chinese companies to contribute to Egypt's development projects meant to boost the national economy. Sisi, at a meeting with heads of a number of Chinese companies investing in...
Yes

MoU signed with China in construction of Egypt’s new capital

Investment Minister Ashraf Salman
02 Sep 2015
Egypt has signed a Memorandum of Understanding with China to partially engage the latter in the construction of the first phase of its new administrative capital east of Cairo, the most-celebrated undertaking offered to investors during...
Yes

CAPMAS: Egypt's exports to COMESA reached $5.8m in May 2015

02 Sep 2015
Egypt's exports to Common Market for Eastern and Southern Africa (COMESA) during May 2015 reached $5.76 million, compared to $5.69 million in the corresponding period a year earlier, according to a fresh report issued by the Central...
Yes

Egypt's market loses LE1.2 bn on Wednesday, EGX30 down 0.74%

02 Sep 2015
Egypt's market closed in the red zone on Wednesday's session, as the benchmark EGX30 index went down 0.74 percent, to 7,150.47with a turnover of LE443 million, the Egyptian Exchange data showed. Meanwhile, the small and mid-cap...
Yes

Egypt picks winners in tender for 4 LNG cargoes via Jordan

A ship passes a petro-industrial complex in Kawasaki near Tokyo December 18, 2014.
 
02 Sep 2015
 Egypt has picked Shell, Vitol and Trafigura in a tender to supply four cargoes of liquefied natural gas (LNG) via Jordan's Aqaba import terminal, trade sources said. Shell will supply two cargoes while trading houses Vitol and...
Yes

IMF's Lagarde warns of spillover risks from recent volatility

International Monetary Fund Managing Director Lagarde gestures as she speaks about the global economy at the Johns Hopkins School of Advanced International Studies in Washington
02 Sep 2015
Recent volatility in global financial markets shows how rapidly risks can spill over from one economy to the next, the managing director of the International Monetary Fund (IMF) said in Jakarta on Wednesday. "What has been...
Yes

Asian shares fall for third day on global growth concerns

A man looks at electronic boards displaying various Asian countries' stock price indexes outside a brokerage in Tokyo, September 1, 2015.
REUTERS/TORU HANAI
02 Sep 2015
Asian shares fell for a third straight day on Wednesday as weak manufacturing reports from China, the United States and Europe fuelled worries about slowing global growth, while the dollar took back some ground lost in the previous...
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Egypt's market loses LE1.8 bn on Tuesday, EGX30 down 0.7%

cairo stock 
01 Sep 2015
Egypt's market closed in the red zone on Tuesday, as the world markets extend losses and China falters again, according to AFP.   The benchmark EGX30 index went down 0.67 percent, to 7,203.86 with a turnover of LE392 million, the...
Yes

World markets extend losses as China falters again

01 Sep 2015
Global stock markets plunged further on Tuesday as more gloomy evidence emerged of China's economic slowdown, leading to heavy sell-offs in Asia and Europe. Downbeat data showed factory activity in China hit a three-year low, fuelling...
Yes