economy
Egypt’s garment factories reduce production by 50 percent ahead of fall season
Economy
October 12, 2020
Egypt’s garment factories reduce production by 50 percent ahead of fall season
The chief of Egypt’s Ready-made Garments Chamber, Mohamed Abdel Salam, said on Monday that several local clothing factories reduced their…
Saudi’s National Commercial Bank buys Samba in $14.8B deal
Middle East
October 12, 2020
Saudi’s National Commercial Bank buys Samba in $14.8B deal
DUBAI, United Arab Emirates (AP) — Saudi Arabia’s National Commercial Bank said Sunday it will purchase rival lender Samba Financial…
Five years on, Israelis see few benefits from major gas deal
Middle East
October 12, 2020
Five years on, Israelis see few benefits from major gas deal
JERUSALEM (AP) — Five years after Israel signed a landmark agreement to develop large offshore gas fields over the objections…
Egypt’s non-oil private sector returns to growth in September: PMI
Business
October 5, 2020
Egypt’s non-oil private sector returns to growth in September: PMI
Egypt’s non-oil private sector grew in September, its first expansion in 14 months, and a sign Egypt may be over…
Egypt’s gold prices rise by LE12 over a week
Business
October 4, 2020
Egypt’s gold prices rise by LE12 over a week
Gold prices rose by LE12 in Egypt’s local market over the course of a week, while an ounce rose by…
Economy plunges 31.4 percent in spring but big rebound expected
World
September 30, 2020
Economy plunges 31.4 percent in spring but big rebound expected
WASHINGTON (AP) — The US economy plunged at a record rate in the spring but is poised to swing to…
Egypt to become first Arab country to issue Green bonds
Egypt
September 29, 2020
Egypt to become first Arab country to issue Green bonds
DUBAI/LONDON (Reuters) – Egypt started marketing a five-year US dollar-denominated Green bond on Tuesday at a yield of around 5.75…
Oman’s new sultan quietly makes his mark as challenges loom
Middle East
September 29, 2020
Oman’s new sultan quietly makes his mark as challenges loom
DUBAI, United Arab Emirates (AP) — When Oman’s ruler of a half century died without an heir apparent, brief fears…
Egypt cuts interest rates by 50 bps as inflation subsides
Business
September 25, 2020
Egypt cuts interest rates by 50 bps as inflation subsides
Egypt’s central bank unexpectedly cut its main overnight interest rates by 50 basis points on Thursday, saying exceptionally low inflation…
Lebanon asks world’s help ‘trying to rise from its rubble’
Middle East
September 24, 2020
Lebanon asks world’s help ‘trying to rise from its rubble’
BEIRUT (AP) — Facing an economic meltdown and other crises, Lebanon’s president on Wednesday asked for the world’s help to…