Economy

Nikkei pays price for downplaying Brexit risk, sees worst fall since 2011

25 Jun 2016
Japanese stocks suffered their biggest daily fall in more than five years on Friday after Britain voted to leave the European Union, roiling financial markets and raising fears of a shock to the already fragile global economy. The Nikkei...
Yes

Brexit baffled punters, pundits and fund managers to the very end

25 Jun 2016
Nearly everyone, from London gamblers to US money managers got it wrong. Britain's vote to leave the European Union shocked pundits, investors and politicians alike, underscoring the inherent difficulty of forecasting such rare events...
Yes

Apache Corp extends Western Desert oil drilling for five years

Petroleum Minister Tarek al-Molla
24 Jun 2016
The American wildcat oil and gas exploration firm Apache Corporation has agreed a five-year extention to its Khalda-2 drilling concession in the Western Desert, with an expected investment of US$40 million.   The agreement was signed...
Yes

Africa’s richest man got a fistful of dollars in Nigerian currency squeeze

23 Jun 2016
As Nigeria grapples with a foreign exchange crisis, one person stands out in the scramble to obtain hard currency: Aliko Dangote, Africa's richest man. When the government restricted the supply of dollars in June 2015 to prop up the...
Yes

After setbacks, NY prosecutors resume insider trading crackdown

23 Jun 2016
Federal prosecutors in Manhattan are pursuing insider trading cases on a pace not seen since 2012 — before a major appellate ruling limited their ability to bring charges against hedge fund managers and other traders. So far this...
Yes

Sterling hits 2016 high, stocks climb as UK votes on Brexit

23 Jun 2016
Sterling hit a 2016 high and world stocks climbed for a fifth day running on Thursday, as British voters headed to the polls for a crucial vote on their European Union membership. Financial markets have been wracked for months by worries...
Yes

Greece could lift capital controls by year-end: bank association head

19 Jun 2016
Greece could lift most or all capital controls imposed at the height of the euro zone crisis by the end of the year, the head of the country's banking association said on Saturday. The controls, which restricted the amount of cash that...
Yes

Iran says has finalised the deal to buy 100 Boeing airliners

19 Jun 2016
Iran has reached a deal to buy 100 planes from US planemaker Boeing, and the two sides are awaiting approval by US Treasury authorities, the head of Iran's Civil Aviation Organisation said in remarks published by state media on Sunday...
Yes

Telecoms regulator sets 4G licence cost at LE3.54 bln: Orange Egypt

19 Jun 2016
Orange Egypt said on Sunday that Egypt's telecommunications regulator had set the price of a licence to provide fourth-generation mobile services at 3.54 billion Egyptian pounds ($398.6 million), half of which must be paid in dollars....
Yes

Heavy trading predicted around Brexit vote

18 Jun 2016
U.S. stock markets could see heavy trading and increased volatility as investors position for next week's referendum on whether Britain remains in the European Union. The June 23 vote could have big implications for the global economy...
Yes