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SABIC reports first-quarter loss, warns coronavirus could hit demand

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

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

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

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

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

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

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

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

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

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…
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