Latest in Tag: gulf Highlight
Latest in Tag: gulf
Gulf states step up policing of online media: watchdog
Kuwait topped the Gulf Cooperation Council (GCC) countries on the press freedom list but dropped 14 points to rank 91st worldwide.
UAE’s Gulf Navigation convertible as soon as this month
The first step was the disposal of the two very large crude carriers (VLCCs), and this week Gulf Navigation said it had agreed their sale to Bermuda’s DHT Holdings for $98m.
Dubai retailer Al Futtaim to invest $2.3bn in Egypt
The investment plan is positive for Egypt’s 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.
Fahmy meets Kuwaiti counterpart, discusses Syria
The Gulf country has recently announced measures to boost the Egyptian economy
Egypt’s mafia fund
By Farah Halime A private equity fund launched by Gamal Mubarak managed to reel in millions of dollars of investment from Egypt’s elite, revealing the depths to which political and business connections ran as he began rising in stature in the late 1990s. According to a document obtained by Rebel Economy, Gamal Mubarak’s $54m Horus I Fund, …
Major Gulf investments in Egyptian real estate market
Market analysts assert that the influx of Arabian capital into the Egyptian real estate market will assist in providing liquidity for small companies and subcontractors.
Gulf states draw sharpening criticism from trade unions and human rights groups
With major events and developments looming, conditions in the Gulf states will be illuminated under the international spotlight
Middle East funds most bullish about Egypt equities: Survey
The results of the survey of leading fund managers in the region, conducted in the past 10 days, show growing optimism about a recovery of Egypt’s economy
Gulf states line up as targets of trade unions and human rights groups
By James M Dorsey Gulf states are lining up as targets for criticism by international trade unions and human rights groups for their treatment of foreign workers. Qatar, long in the firing line following its winning three years ago of the right to host a World Cup, was joined this week by Abu Dhabi as …
Buoyed by Gulf aid, Egypt current account hits surplus
Reuters – Egypt’s current account recorded a surplus in the first quarter of the financial year, boosted by billions of dollars in aid from Gulf Arab states after the army ousted Islamist President Mohamed Morsi in July. The current account ran a surplus of $757 million between July and September, driven by a massive increase in official transfers, according to …
Egypt index climbed, Gulf shares also rose
Egypt index gained 0.4 percent to 6,748 points.
Red herrings
A few weeks ago, in his regular New York Times column, Thomas Friedman applauded the “radical evolutions” taking place across the Arab Gulf, dubbing them “The Other Arab Awakening“. Friedman makes the sweeping claim that, “in the wake of the Arab Spring, [Gulf leaders] are deeply concerned with their legitimacy, which they are discovering can …
Egypt’s secret Swiss bank
By Farah Halime Nestled in the heart of downtown Cairo is the opulent headquarters of Arab International Bank, a secretive bank that has allowed kleptocrats to funnel money out of the country for decades with barely any regulatory oversight. The bank, established in 1974 by a treaty signed by Egypt, Libya, Qatar, Oman and the UAE, is exempt …
Why one foreign investor left Egypt
By Farah Halime One of the key markers of a thriving economy is whether investors are committed. For Egypt, attracting investors has remained a point of contention in the last three years – are they or are they not putting money in Egypt? Marshall Stocker, an American venture capitalist, was among a band of businessmen drawn …
Ministry of Housing plans to establish 25 new cities, attracting EGP 100bn in investments
The ministry intends to extend the sanitation system to 131 villages, as well as a project establishing new silos with a storage capacity of 1.5bn tons
Role of outside powers in region must change: Fahmy
Foreign Minister calls for all countries in the region to reassess their approach to security
Gulf investors seek collateral for Egypt investments
Some private sector Gulf investors have said they would not come back to Egypt without collateral to secure their funds, in response to judicial cases raised against their projects following the 2011 ouster of former president Hosni Mubarak.
Ministry of Tourism offers lands in Red Sea Zone to Gulf investors
“Minister of Tourism Hisham Zaazou will meet a Gulf delegation including a number of Gulf investors to discuss establishing a group of projects complementary to the hotel capacity in the Red Sea touristic cities.”
Egypt delays IMF loan decision, Gulf aid helps reform: Deputy PM
Any IMF deal would require economic reform commitments that the government might find politically risky
Gulf states, minus Qatar, rally Egypt investment to buoy army power
Egypt seeking investment from its Gulf Arab friends; Business ties with Qatar hurt by political dispute
The perils of American disengagement from the Middle East
By Peter Schwartzstein It must be remarkably gratifying -even amusing – for many Egyptians to watch the United States scrambling to get back in their interim government’s good graces. How tempting it must be to throw John Kerry’s increasingly flattering overtures back in his face and kick the US to the curb after its supposed …
Executive Chairman: Egypt Gulf Bank aims to reach profits of EGP 178 million this year
Independent unit to manage small- to medium-sized projects will be launched before the end of this year
New mortgage and savings certificate products were released during the last quarter
Gulf airlines splash out over $100bn as Boeing launches new jet
Dubai-based Emirates led the buying spree on Sunday with an order for 150 of Boeing’s new 777 mini-jumbo, in a deal worth $76bn at list prices.
Adly Mansour returns from second overseas visit
The interim president travelled to Kuwait and UAE, returning to Egypt on Friday
El-Beblawi discusses economic cooperation with Emirati counterpart
Al Maktoum has renewed his country’s support of Egypt in order to face current challenges
Egypt left vulnerable after Qatari snub
By Farah Halime It was bound to happen sooner or later. Egypt has returned to Qatar the $2bn the Gulf state deposited in Egypt’s central bank after negotiations to convert the money into three-year bonds failed. Though this represents only a quarter of the total funds Qatar has lent or given to Egypt, the decision …
Attempts against Egypt-Kuwait relationship have failed: El-Moslimany
Interim president Adly Mansour expected to visit Kuwait soon
Making the most of Gulf aid to Egypt
By Farah Halime, Rebel Economy We may not like it, but Egypt desperately needs Gulf money. So why not change the way the Gulf lends money to Egypt to make it count. It won’t be just about wasting away cash to address a symptom without resolving the underlying problem. Indeed, without Gulf aid, the government would have …
Egypt to receive additional $ 2bn in aid from UAE
UAE’s prince Mohammed bin Zayed Al-Nahyan pledged to send $ 2bn additional aid to support Egypt
Sisi meets with UAE prince
UAE prince and deputy commander Nahyan reiterates his country’s support for Egypt’s interim government and military