Latest in Tag: Business Highlight
Latest in Tag: Business
Egyptâs ânew normalâ aids financial market rebound
Egyptâs economy was growing at about 6% annually for several years before Mubarak was ousted.
BG Group downgrades 2014 and 2015 guidance
Guidance for 2014 âdisappointingâ due to ongoing problems in Egypt
Buyersâ market for oil companies in Davos
Oil prices peaked at $147 a barrel in 2008 amid growing fears that the world was running out of oil.
China âhard landingâ stokes fear at Davos
A slowdown in China would have an impact on the global economy: Lagarde
Dubai retailer Al Futtaim to invest $2.3bn in Egypt
The investment plan is positive for Egyptâs army-backed government, which is trying to attract foreign money back to the country and create jobs to ease social discontent as it manages a difficult transition to elections this year.
Rising CEO confidence in economy, but plenty of worries in Davos
The annual PricewaterhouseCoopers (PwC) survey of more than 1,300 CEOs found that 39% were âvery confidentâ their companyâs revenues would grow in 2014, up from 36% a year ago.
IMF sees slightly stronger global growth
The fund increased its estimate for world growth this year slightly to 3.7%, after 3.0% in 2013, while warning that the rebound of the world economy is still âweak and unevenâ.
EBRD cuts growth forecast for crisis-hit Turkey
Turkeyâs economy was nevertheless expected to grow by 3.3% in 2014, the EBRD said in a statement.
Shell sells Australia gas project stakes for $1.14bn
Shell issued a âsignificantâ profit warning for the fourth quarter on Friday, in which it detailed across-the-board problems, less than three months after its third-quarter profits undershot analyst forecasts.
The International Labour Organisation warns of jobless recovery
A global labour market recovery is being held back by a shortfall in demand, the ILO said, noting that in many developed economies, cuts in public spending and increases in income and consumption taxes were weighing heavily on businesses and households.
Business Media Group organises energy conference
The conference will discuss Egyptâs energy situation and will seek to find alternative energy methods
Middle East investment banking fees up 20% in 2013
Reuters â Investment banking fees in the Middle East grew 20% last year, data compiled by Thomson Reuters showed, as capital markets activity continued to recover gradually from the global financial crisis. Total fees rose to $722m in 2013, the highest since 2010, from $603m in 2012 – though they were still only about half …
Government aiming for 4% growth in investment in FY 2014/2015
Minister of Planning announces that the new investment plan will target various Egyptian regions and governorates
Egyptâs 16 richest men
Egypt has seven prominent billionaires and even more millionaires
Egypt Year in Review 2013
The year was coloured by unrest, with widespread protests against President Mohammed Morsi followed by his removal and the installation of a new interim government, which subsequently saw additional demonstrations.
EU ready to resume business with Iran on Jan 20: sources
AFP –Â The European Union will begin lifting sanctions against Iran on Monday, January 20, the minute it receives word that Tehran has begun implementing a deal to curb its nuclear programme. EU foreign ministers will announce the move in Brussels as soon as inspectors from the UN’s nuclear watchdog, the IAEA, confirm that Iran has …
Oil price gains capped by prospect of Iran supplies
Brent North crude for February firmed two cents to stand at $106.77 in London around midday in London.
Dubaiâs Drydocks World signs $730m North Sea rig deal
Drydocks agreed a restructuring plan worth $2.2bn in 2012 having got into difficulty after taking on debt to fund its expansion into southeast Asia.
Turkish business warned over trade with countries in crisis
A number of Turkish companies briefly halted operations in Egypt although there has not yet been a major pullout
EFG Hermes launches programme to acquire treasury shares
Analysts expect EFG Hermes shares to maintain their upward trend in the three upcoming sessions, to reach nearly EGP 12. This comes after the boardâs approval of the plan to acquire treasury shares for EGP 1bn at a minimum price of EGP 11.5 per share. The share featured a 10% upward movement during last Thursdayâs …
UAE sees keen interest for largest oilfields on revised terms: Minister
Under the concession arrangement, ADNOC held a 60% controlling stake in the Abu Dhabi Company for Onshore Oil Operations (ADCO) oilfields, while ExxonMobil, Royal Dutch Shell, Total and BP, each held 9.5% stakes.
Dubai deal may be imminent, bankers say
Rumours of a Dubai issue pre-date the World Expo announcement.
Iran to get first $550m of blocked funds in February
The money is being unblocked under a landmark deal, set to take effect starting 20 January, that curbs parts of Iranâs disputed nuclear program in exchange for sanctions relief.
Greece looks to form âPartnership of Equalsâ in Egypt during EU presidency
Greek ambassador outlines how Greeceâs EU Presidency could benefit Egypt
Dubaiâs Aramex expects double-digit profit growth, eyes Africa buys
Africa would be Aramexâs main focus for growth
IMF plans to raise global economic growth forecast: Lagarde
The IMF chief dined with Kenyan President Uhuru Kenyatta on Monday evening in the coastal city of Mombasa.
New constitution raises spending on health, education and science: Moussa
Moussa also said it provides equal opportunities for women regarding all rights and obligations
Egypt has repaid $700m to Paris Club: CBE
The Paris Club is comprised of 19 developed economies.
Oil prices rise as US cold snap boosts demand
Brent North crude gained also 37 cents to stand at $107.10 in London deals.
Centamin poised for more output growth after 2013 beat
The company said on Monday it produced 91,546 ounces of gold in the fourth quarter of 2013, bringing its full year output to 356,943 ounces to beat guidance of 320,000 ounces.