Latest in Tag: Reuters Highlight
Latest in Tag: Reuters
Supreme Media Council rejects Reuters report on Egyptian series
The council said that it has no power preventing specific subjects from being tackled in dramas
Reuters reporters jailed in Myanmar freed
Both were investigating country’s murder of 10 Rohingya Muslims
Thomson Reuters moves forex derivatives to Dublin over Brexit
Thomson Reuters, the parent company of Reuters News, has announced it’s planning to transfer its foreign exchange derivatives arm to Dublin, leaving London as the UK prepares to exit the European Union.Thomson Reuters was getting ready to move its foreign exchange derivative business from London to Dublin ahead of the UK’s departure from the European …
SIS insists that BBC, Reuters provide names of 50+ killed policemen
The news agency have reported that more than 50 policemen were killed, while MoI stated only 16
Middle Eastern debt issuance reaches $57.4bn in H1 2017 with 53% increase: Reuters
The largest deal to be announced in 2017 is Tronox’s $2.2bn acquisition of a Saudi titanium dioxide business and is expected to boost inbound M&A to $6.6bn, says IB analysis
Reuters stands by its Regeni report, denies claims its bureau chief fled Egypt
The story is consistent with Reuters’ commitment to accurate and independent journalism, says the agency
Report: US to defend Syrian rebels from Assad with air power
US President Barack Obama has decided to allow airstrikes in Syria to defend US-backed rebels, claims a Wall Street Journal report. The move could bring the US military into direct conflict with the Syrian government. The president’s decision is aimed at protecting the rebels trained by US forces from attacks, including those from the forces …
Possibly first names for Libyan unity government this week: UN envoy
UN chief negotiator Leon pushes for a unity government; Tobruk government continues its offensive
Egypt stocks continues to drop
Reuters – The Cairo bourse, which dropped 2.7% last Thursday after Sisi said he would run for president, fell a further 1.9% on Sunday to trim 2014 gains to 19%. But there were signs the correction was slowing and the market closed above the intraday low. “Towards the end of today we saw a bit …
Emaar plans Dubai, London listing for retail unit: Chairman
Reuters – Dubai’s Emaar Properties plans to list its shopping malls and retail unit in both Dubai and London, the company’s chairman Mohamed Alabbar was quoted as saying on Tuesday. “This will be a dual listing. We are a Dubai company so we have to be in Dubai, but we will list in London. I …
Emirates REIT to raise $135m in first Dubai IPO since 2009
Reuters – A real estate investment trust, Emirates REIT, said on Tuesday that it planned to raise at least AED 500 million dirhams ($135m) in Dubai’s first initial public offer of shares since 2009. The company will use proceeds from its IPO on the Nasdaq Dubai bourse for possible future acquisitions and investment in existing …
Fitch upgrade boosts Saudi shares
Saudi Arabia’s measure advanced 1.1% to its highest level since July 2008, while trading volume jumped to its highest in almost two years.
Qatar may face higher costs of hiring foreign workers: IMF
Qatar, which has denied the Guardian’s findings, has seen an increasing influx of foreigners, now estimated at 1.8 million, with its population rising 10% in 2013.
Global PC shipments to fall 6.1% in 2014: IDC
Reuters – Global shipments of personal computers fell 9.8% last year, the worst contraction on record, and are likely to decline by 6.1% in 2014 due to lackluster demand in developing countries, according to market research firm IDC. IDC had expected PC shipments to fall 10.1% last year but it said that the fourth quarter …
Bahrain’s Al Salam Bank launches Asian Islamic REIT
Reuters – Bahrain’s Al Salam Bank has launched a listed sharia-compliant real estate investment trust (REIT) that will invest in a portfolio of Asian properties, the lender said on Tuesday. The REIT will invest in between 15 and 35 properties and be managed by Swiss-based B&I Capital AG, with Al Salam providing seed capital for …
Kuwait’s Zain says finalises $800m, five-year loan facility
Reuters – Kuwait’s Zain has finalised an $800m, five-year loan facility from 11 banks, the telecommunications operator said on Tuesday. Zain, which has operations in eight countries in the Middle East and Africa including Sudan, Iraq and Saudi Arabia, said it originally planned to raise $600m, but increased the facility’s size because of what it …
Sawiris to buy into German travel group FTI
Sawiris, a member of Egypt’s richest family, runs Orascom Development Holding, operating tourist resorts and real estate projects in Egypt and Europe.
Egyptian Pound flat in official and black market trade
Reuters – The Egyptian pound was steady at a central bank foreign currency sale on Monday and remained unchanged on the black market. The central bank sold $38.6m to banks with a cut-off price of EGP 6.9508 to the dollar, fractionally stronger than the cut-off price of EGP 6.9509 from Monday’s auction. The bank had …
Arabtec denies plans to acquire Kuwait’s Kharafi National
Reuters – Dubai builder Arabtec on Wednesday denied that it planned to acquire Kuwaiti construction firm Kharafi National. Sources familiar with the discussions told Reuters on Monday that Arabtec had been in talks with Kharafi National, part of the Kharafi Group, to fully acquire the company. On Monday, both Arabtec and Kharafi declined to comment. …
Moody’s says Egypt banking sector outlook still negative
Moody’s cited “banks’ high and increasing exposure to Caa1-rated Egyptian government debt”, which ties the system’s solvency to sovereign default risk.
On women in Egypt: Equality doesn’t mean justice
In late 2013, Thomson Reuters conducted a poll ranking Egypt the worst country among 22 Arab League states for women’s rights. The poll measured women’s status in six different categories. First, “Women in politics” calculated women’s civil representation and presence in high public positions. “Women in society” measured tradition and cultural expectations and limitations of …
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 …
Dubai’s Arabtec in talks to buy Kuwaiti firm
Reuters – Arabtec Holding, Dubai’s largest listed construction firm, is in the advanced stages of talks to fully acquire a construction company in Kuwait’s Kharafi Group, two sources aware of the discussions said. The Dubai firm is in talks with Kharafi National, a Kuwait-based contractor and facilities management firm which has operations in several Middle …
Saudi Aujan Coca-Cola plans $100m factory in Egypt
Egypt’s army-backed government is trying to attract foreign money back into the country and create jobs to ease social discontent as it manages the biggest Arab nation’s difficult transition to elections this year.
Pioneers Holding to buy 60% of Roaya Group: CEO
Reuters – Pioneers Holding plans to acquire a 60% stake in real estate investment firm Roaya Group by the end of the first quarter of this year, Waleed Zaki, the firm’s chief executive told Reuters in an interview. The deal is expected to cost around EGP 1bn ($144m), he said. Pioneers specialises in brokerage services, …
EFG seeks to increase assets under management in Egypt
Reuters – EFG Hermes, one of the largest investment banks in the Middle East, is seeking to expand its assets under management in Egypt by 25% this year, a senior executive said on Tuesday. Nabil Moussa, head of asset management for EFG in Egypt, told reporters that of the $3bn in assets the bank manages …
Central Bank of Egypt earmarks $1.44bn for low-cost housing
Reuters – Egypt’s central bank said on Tuesday it would allocate EGP 10bn ($1.44bn) for low-cost housing projects, one of the demands in protests that led to the ouster of autocratic President Hosni Mubarak in 2011. Better living conditions, an end to official corruption and more democratic rights figured prominently in those protests. About half …
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 …
Egypt receives UAE financing to support capital spending, a credit positive: Moody’s
This is the second increase in budgeted expenditures in the current 2013-14 fiscal year, which ends June 2014.
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