Business
SABIC reports first-quarter loss, warns coronavirus could hit demand
May 4, 2020
SABIC reports first-quarter loss, warns coronavirus could hit demand
(Reuters) — Saudi Basic Industries Corp, the world’s fourth-biggest petrochemicals firm, reported a net loss in the first quarter, citing…
Qatar Petroleum plans job and cost cuts amid market downturn: sources
April 30, 2020
Qatar Petroleum plans job and cost cuts amid market downturn: sources
LONDON/DUBAI (Reuters) — Qatar Petroleum, one of the world’s biggest energy companies, plans a new wave of job cuts and…
European economy suffers record drop amid pandemic
April 30, 2020
European economy suffers record drop amid pandemic
FRANKFURT, Germany (AP) — The European economy shrank by a record 3.8 percent in the first quarter as business activity…
US dollar – Egyptian pound exchange rate remains stable on Tuesday
April 28, 2020
US dollar – Egyptian pound exchange rate remains stable on Tuesday
Exchange rates between the US dollar and the Egyptian pound remained stable in several banks on Tuesday, following a decline…
Egypt requests fresh financial package from the IMF to counter coronavirus
April 26, 2020
Egypt requests fresh financial package from the IMF to counter coronavirus
The Egyptian government and the Central Bank of Egypt have requested a new financial package from the International Monetary Fund…
Egypt eager to provide more incentives to support industries
April 25, 2020
Egypt eager to provide more incentives to support industries
Egyptian Prime Minister Mostafa Madbouly announced on Friday that the government aims to provide more facilities and incentives to help…
EU leaders weigh massive virus economic recovery measures
April 23, 2020
EU leaders weigh massive virus economic recovery measures
BRUSSELS (AP) — European Union leaders are set to weigh Thursday the damage the coronavirus has inflicted on health care…
No pay cuts, layoffs but Middle East firm rethinks food security
April 22, 2020
No pay cuts, layoffs but Middle East firm rethinks food security
DUBAI, United Arab Emirates (AP) — One of the biggest private employers in the Middle East has no plans to…
Egypt’s Central Bank to ease cash withdrawal limits during Ramadan
April 22, 2020
Egypt’s Central Bank to ease cash withdrawal limits during Ramadan
Chairman of the Federation of Egyptian Banks (FEB) and President of Banque Misr Mohamed al-Etriby said on Wednesday that the…
US dollar jumps vs Saudi riyal in forwards market as oil slumps
April 22, 2020
US dollar jumps vs Saudi riyal in forwards market as oil slumps
LONDON/DUBAI (Reuters) — The US dollar rose against the Saudi riyal in the forwards market on Wednesday after oil prices…