Business News

Chinese tourists unfazed by currency fall, market turmoil

© AFP / by Roberto Coloma | Chinese tourists take pictures against the iconic Merlion statue in Singapore, August 29, 2015
 
 
 
30 Aug 2015
China's currency devaluation and slowing economy have caused enormous turmoil in world financial markets, but they have not really bothered tourists like Henry Lee. Not yet, at least. "I don't even know what the exchange rate...
Yes

Global LNG-Price slide deepens on burgeoning supply, European exports competitive

Pipes are seen at Dominion's Cove Point liquefied natural gas (LNG) plant on Maryland's Chesapeake Bay in this picture taken February 5, 2014. Dominion D.N, an American energy company long focused on U.S. markets, hopes to begin an expansion worth billions of dollars at its Cove Point complex on Chesapeake Bay later this year. REUTERS/Tim Gardner
 


 
 

 
29 Aug 2015
Asian liquefied natural gas (LNG) prices for October delivery fell this week as new cargoes offered by Indonesia and Australia outweighed supply problems at Nigeria's Bonny export terminal. The price of Asian spot cargoes fell to...
Yes

Egypt's market loses LE6.4 bn in week, EGX30 index down 1.3%

cairo stock 
28 Aug 2015
Egypt's stock market has witnessed loses of LE6.4 billion (US$818 million) this week, as all indexes dropped, Egyptian Exchange data showed. The main EGX30 index, small and mid-cap EGX70 index and the broader EGX100 index declined 1.31...
Yes

Egypt's market gains LE12.8 million on Thursday, EGX30 climbs 3 %

cairo stock 
27 Aug 2015
Egypt's market boosted by the improved global equities backdrop on Thursday's session, as the benchmark EGX30 index climbed 2.99 percent, to 7,078.83 with a turnover of LE406 million, the Egyptian Exchange data showed. Meanwhile,...
Yes

Egyptian pound steady at official auction, weaker at exchange bureaus

dollar vs Egyptian pound
27 Aug 2015
Egypt's central bank kept the pound steady at 7.73 per dollar at a foreign exchange auction on Thursday, and the currency was weaker at exchange bureaus. The central bank said it had offered $40 million and sold $37.8 million at a cut-...
Yes

EgyptAir Holding Company chief removed

Aviation Minister Hossam Kamal
27 Aug 2015
Civil Aviation Minister Hossam Kamal decided Wednesday to remove EgyptAir Holding Company chief Sameh al-Hefny, reportedly after an Administrative Control Authority report slammed continuing deterioration in the company’s...
Yes

Egypt extends high-moisture wheat exemption for one year

27 Aug 2015
Egypt will accept higher moisture levels in government tenders to buy wheat for one year after an initial exemption expires at the end of August, its supply minister said on Thursday. The decision was taken to ensure Egypt had a variety of...
Yes

Egypt bans rice exports as of Sept. 1

27 Aug 2015
Egypt will ban rice exports again as of Sept. 1. to satisfy domestic consumption, the ministry of trade and industry said on Thursday. Egypt is expected to produce 2.7 million tonnes of white rice in the 2015-2016 season while its annual...
Yes

Surprised by global impact of yuan move, China looks to calm markets

27 Aug 2015
China has been so surprised by the global reaction to its currency devaluation that it is likely to keep the yuan on a tight leash in the near-term to head off a currency war that could spark a broader financial crisis, policy insiders say...
Yes

Egypt's non-petroleum exports recede by 18.7% in 7 months

27 Aug 2015
Non-petroleum exports declined during the first seven months of the year by 18.7 percent to reach 11.150 billion dollars compared to 13.716 billion dollars during the same period last year.   The non-petroleum exports also dropped by...
Yes