Latest in Tag: gulf Highlight
Latest in Tag: gulf
Industry minister calls on agricultural exporters to focus on Gulf as alternative to Turkey
Abdel Nour has re-allocated export subsidies following an EGP 500m decrease in FY2014/2015 general budget
Egypt targets 2 million Arab tourists by the end of the year: Tourism ministry official
Egypt’s Ministry of Tourism hopes to attract 2 million Arab tourists by the end of 2014 by launching promotional campaign in the Emirates, Saudi Arabia and Kuwait
Saudi King, Al-Sisi discuss economic support to Egypt
The Saudi monarch makes rare, short stop in Egypt on his way back from Morocco
Foreign dignitaries attend Al-Sisi inauguration
Gulf states, Africa well represented at Al-Sisi’s inauguration, Qatari Emir sends congratulations via telegram
Skilled labour abandoned tourism sector, training a big challenge: Tourism ministry official
Low incoming tourism to Egypt pushed tourism workers to work in other economic sectors; Egyptian hotels face big challenges training workers, says adviser to tourism minister
Egypt gears for Al-Sisi’s inauguration as foreign delegations arrive
Heads of states and foreign delegations land in Cairo for the Sunday ceremony
Countries and international bodies offer congratulations to Al-Sisi on election victory
White House says it is looking forward to working with Egypt’s new president, but also shared concerns
Bahrain hopes for Egypt to continue regional role post-election
Bahraini ministry expresses continued support for Egypt’s roadmap
Al-Sisi targeting 7% GDP growth, 8% unemployment by 2017/2018
Discussing the changes in fiscal policies, Al-Sisi’s economic platform stated that budget deficit and public debt should return to “safe levels”.
Gulf Arabs free fuel for Egypt reaches $6bn in value
The aid helps reduce the heavy costs of government fuel subsidies and the drain on foreign exchange reserves.
Egypt to participate in joint air force training in the Gulf
Gulf air force exercises intended to deepen Bahrain-Egypt strategic relationship
UAE’s Air Arabia bets on Ras Al Khaimah hub
The Sharjah-based budget carrier, which currently operates out of three hubs in the Gulf and North Africa region, signed an agreement with the RAK government in February declaring it the official carrier for the emirate and RAK airport as its new hub.
Egypt foreign reserves up at $17.414bn in March: Central Bank
Reuters – Egypt’s foreign reserves rose to $17.414bn in March from $17.307bn in February, the Central Bank said on Monday. Reserves fell sharply after a 2011 uprising that ousted President Hosni Mubarak but were lifted last year when Gulf Arab states gave billions of dollars in aid to the army after it deposed elected Islamist …
Saudi Arabia’s Algosaibi calls may creditor meeting: bankers
Reuters – Saudi Arabian conglomerate Ahmad Hamad Algosaibi& Brothers has called a meeting of creditor banks in Dubai on 7 May to discuss a proposed settlement of billions of dollars of unpaid debt, commercial bankers said on Monday. The 2009 collapse of Algosaibi’s Bahrain unit, The International Banking Corp, and Awal Bank, owned by Maan …
Egypt army extends power by taking charge of Gulf aid
Bread is a politically-explosive issue in Egypt – failure to deliver it at an affordable price has triggered major riots in the past and the government wants to boost its storage capacity to reduce its reliance on international markets.
Arab summit kicks off with calls to arm Syria rebels
The head of the Syrian National Coalition, Ahmed Jarba, repeated calls on the international community to supply rebels with “sophisticated weapons”.
Qatar calls for dialogue in Egypt
Relations between Egypt and the Gulf state have been strained over Doha’s backing for Islamist president Mohamed Morsi, who was ousted by the army in July following nationwide protests.
Egypt and UAE continue joint military training
Final stage of the two-week joint exercise is set to commence within the next two days
Huge housing deal may signal Gulf investment push into Egypt
The construction company said on Sunday that it had agreed with the Egyptian army to build the homes at 13 locations around the country on land provided free by the armed forces, which own a large amount of financial assets and real estate.
Doha disconnect
What was behind Gulf states’ diplomatic isolation of Qatar?
Egypt gains marginally after $40bn housing deal; Gulf mixed
Reuters – Egypt’s shares rose slightly on Monday after a deal between the country’s army and a Dubai builder for an affordable housing project worth EGP 280bn ($40.2bn). Cairo’s benchmark index advanced 0.5%, recovering early-session losses and boosting 2014 gains to 17.6%. Under a deal with Cairo’s army-backed government, Dubai’s Arabtec will build one million …
Threat of terrorism still present in the region: Foreign minister
United Arab Emirates praises recent Saudi decision to list the Brotherhood as a terrorist organisation
Gulf airlines defend female cabin crew policies
The International Transport Workers’ Federation (ITF) is running a campaign against Qatar Airways over its monitoring of staff and rules preventing women from becoming pregnant and getting married.
Egypt and UAE armed forces begin joint training exercises
Air and naval forces two-week joint exercise latest example of Egypt-UAE cooperation
Bullish funds shift money among Gulf equity markets: Survey
The survey showed great optimism towards Egypt with 53% of managers expect to raise their equity allocations
Russia is no ally for the Arabs
Although some Arabs are fantasising about it, a major alliance with Russia is unwise both morally and practically
Dodgy data obscures reality of Gulf’s economic boom
Reuters – Saudi Arabia’s economy chugged along at modest annual growth rates of around 2.5% in the first three quarters of 2013. Then in the fourth quarter it soared, with gross domestic product jumping 10% from a year earlier. That is the picture delivered by data from the government’s statistics office. But it is not …
Gulf investor interest highlights Egypt’s retail upside
Dubai-based retail group Majid Al Futtaim (MAF) has plans to invest around $2.3bn in Egypt over the coming years
Gulf ties could aid Islamic finance in Italy
Reuters – Bankers and academics in Italy are stepping up efforts to develop Islamic finance in the country, a campaign which could benefit from growing economic links between Gulf countries and the euro zone’s third largest economy. Islamic finance has so far made only marginal progress in continental Europe, mainly in France and Germany. But …
UAE’s Gulf Marine Services plans London IPO
GMS plans to sell new shares worth $100m, as well as an undisclosed number of shares currently held by private equity backers