Economy
Wells Fargo admits deception in $1.2 billion US mortgage accord
April 9, 2016
Wells Fargo admits deception in $1.2 billion US mortgage accord
Wells Fargo & Co (WFC.N) admitted to deceiving the US government into insuring thousands of risky mortgages, as it formally…
No more ‘free’ Saudi money for Egypt: Saudi businessman
April 8, 2016
No more ‘free’ Saudi money for Egypt: Saudi businessman
Saudi Arabia's financial support for strategic ally Egypt will no longer involve "free money" and will increasingly take the form…
Egypt central bank to keep pound stable say bankers, pound weakens on black market
April 7, 2016
Egypt central bank to keep pound stable say bankers, pound weakens on black market
Egypt's central bank will keep the pound stable at LE8.78 pounds to the dollar in Thursday's additional foreign currency auction,…
US readies bank rule on shell companies amid ‘Panama Papers’ fury
April 7, 2016
US readies bank rule on shell companies amid ‘Panama Papers’ fury
The US Treasury Department intends to soon issue a long-delayed rule forcing banks to seek the identities of people behind…
MIDEAST STOCKS: Petchems and telcos buoy Saudi, Egypt falls after data
April 7, 2016
MIDEAST STOCKS: Petchems and telcos buoy Saudi, Egypt falls after data
Petrochemical and telecommunications stocks boosted Saudi Arabia's bourse early on Thursday while Egypt fell after poor economic data.The Saudi index…
Mega deals morph into mega problems for Wall Street
April 7, 2016
Mega deals morph into mega problems for Wall Street
If 2015 was a dream year for Wall Street's top dealmakers, 2016 is starting to take a nightmarish turn.Some of…
Egypt’s debts to foreign oil companies up to US$3.2 bln: petro ministry official
April 6, 2016
Egypt’s debts to foreign oil companies up to US$3.2 bln: petro ministry official
Egypt's outstanding arrears to foreign oil companies rose to US$3.2 billion at the end of March from $3 billion at…
Egypt bans domestic trading of imported wheat
April 6, 2016
Egypt bans domestic trading of imported wheat
Egypt has banned the trading of imported wheat inside the country, Supply Minister Khaled Hanafi said on Wednesday, a move…
Russian plane crash prompts 45 per cent decline in number of tourists to Egypt: CAPMAS
April 6, 2016
Russian plane crash prompts 45 per cent decline in number of tourists to Egypt: CAPMAS
The number of tourists visiting Egypt has declined by 45.9 percent in February compared to the same time last year…
Yields fall on Egyptian debt at Monday auction
April 4, 2016
Yields fall on Egyptian debt at Monday auction
Yields on Egyptian government bonds fell at an auction on Monday, data from the central bank showed.The average yield on…