Latest in Tag: Reuters Highlight
Latest in Tag: Reuters
March of state companies resets global trading patterns
The state companies are joining trading houses like Glencore and Vitol and large oil firms like BP and Shell to take advantage of the retreat from trading by banks because of the greater regulation of banking activities that followed the 2008 financial crisis.
Middle East stock market mostly rises
Some fund managers think a pull-back is likely in the near term since Dubai has risen so sharply.
Turkish Lira hovers near record low on graft probe
The market also awaited the central bank’s announcement of its 2014 monetary and exchange rate policy report on Tuesday, in which it will provide guidance after the Fed decision.
Egypt says to complete $1.5bn payment to oil firms this week
Approval of the $1.5 billion payment was announced by the government on 4 December.
Egypt to pay $1bn to foreign oil firms Monday: Central Bank
Egypt pledged last week to pay $300 million of the money it owes to foreign oil companies in Egyptian pounds starting in December as part of a $1.5 billion repayment scheme designed to revive confidence in its economy after years of turmoil.
Egypt approves oil and gas exploration agreements
The deals are with firms including BP, Dana Gas Emirati, Petroceltic International, and Sea Dragon Energy.
UAE’s Arabtec plans property arms; eyes M&A, Egypt
Arabtec will partner with other firms to undertake projects in Dubai, Abu Dhabi and the Gulf states, it said in a statement detailing the resolutions of a 19 December board of directors meeting.
Central Bank chief: Currency black market won’t last long
The central bank introduced dollar sales last December to help counter a run on the pound.
BlackBerry says making headway with corporate, government clients
BlackBerry Chief Executive John Chen dismisses demise talk, says ‘we are very much alive’
Facebook phases in ‘Unfollow’ button
The world’s largest social network is constantly tweaking its newsfeed – the main page users look at on the network – often by reducing clutter
Dubai retailer Al Futtaim says Egypt Metro Supermarkets deal talk fails
A deal was seen worth between $200 million and $300 million. MAF gave no reason for the breakdown in talks.
Interim President Signs Law Restricting Protests -State TV
State television reported that Adli Mansour had signed the bill
Surviving “Death Boat”, Syria Palestinians locked up in Egypt
The United Nations says the Egyptian government has refused it permission to register Palestinians from Syria as refugees and give them the yellow card that allows them to settle.
Abu Dhabi’s Mubadala to service Rolls Royce Trent XWB engines
Mubadala will become an approved provider of Trent engine maintenance, repair and overhaul, Rolls-Royce’s first such designation in the Middle East
Iranian Dissidents Say Iran Has Built Secret New Nuclear Site
The Islamic Republic and six world powers will resume negotiations on Wednesday aimed at agreeing the first stage towards a comprehensive deal to end a decade-long standoff with Tehran defusing fears that it could develop nuclear weapons.
Jordan Seeks U.N. Security Council Seat After Saudi Rejection
Jordan, which closely follows regional heavyweight Saudi Arabia on most foreign policy issues, wants to raise its international profile and win more recognition of its role in accommodating Syrian refugees, the officials said.
MOFA announces procedures of combating violence against women
Women demand that their rights be guaranteed in constitutional articles
Egypt worst Arab country for women’s rights: Thomson Reuters
Thomson Reuters conducted its third annual gender poll on women’s rights in Arab League countries
Egypt pound strengthens slightly at dollar sale
The central bank sold $38.8m with a cut-off price of EGP 6.8786 per dollar versus EGP 6.8787 at its 7 November auction, the bank said.
Rouhani Iran rejects threats, cites red lines in nuclear talks
Diplomats said the main stumbling blocks included the status of Iran’s Arak heavy-water reactor of potential use in making bomb-grade plutonium, the fate of Iran’s stockpile of higher-enriched uranium – both acute issues for France – and the extent of relief from trade sanctions demanded by Tehran.
Middle East funds still bullish on equities – survey
Dubai’s market, rebounding from the bursting of a real estate bubble in 2008-2010, is up 80% so far this year, while Kuwait is up 33% and Saudi Arabia has gained 18%.
Reuters: gold demand to wane in the second half of 2013
Two months later, the market was “turbulent again as short selling and fresh professional liquidation developed on heightened expectations of an end to QE3,” according to the report.
ElBaradei: Current situation may lead to angry, hungry people
IMF is essential to economic recovery