Major Gulf stock markets were subdued in early trade on Wednesday, with banking and real estate shares weighing on indexes in the United Arab Emirates, according to Reuters.
The benchmark index in Saudi Arabia, which has the highest number of cases (...)
Oil prices dropped in early trade on Wednesday as industry data showing a build in U.S. crude stockpiles and a forecast for U.S. crude output to fall less than anticipated in 2020 added to fears about oversupply.
Brent crude futures fell 13 cents, (...)
Gold steadied near a more than 8-year peak on Wednesday, as concerns over surging coronavirus cases and hopes of more stimulus measures from the U.S. Federal Reserve lifted demand for the safe-haven metal.
Spot gold was little changed at $1,792.79 (...)
The National Bank of Egypt (NBE) and the International Finance Corporation (IFC) signed on a cooperation agreement on funding solar-powered water pumps.
NBE Chairman Hisham Okasha said the deal shows that the bank is keen on supporting Egypt Vision (...)
Samsung is set to reveal its next major smartphone on August 5 — and media reports say the latest version of its high-end Galaxy Note 20 smartphone could be unveiled.
The South Korean electronics giant usually unveils a new version of its Galaxy (...)
While the economy outlook is improving as covid-19 restrictions are lifted, policymakers need to "translate" these gains into an improved labor market, according to Bloomberg.
Egyptian firms last month reduced employment at the quickest rate in (...)
Prime Minister Mostafa Madbouli, issued Tuesday a decree to renew confidence in Nevin Gamea, Minister of Trade and Industry, as head of the Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) for a year.
Madbouli also issued a (...)
European stocks dropped on Wednesday morning as surging coronavirus cases in parts of the world continue to cast doubt over the prospect of a global economic recovery.
The pan-European Stoxx 600 fell 0.6 percent by late morning, with banks shedding (...)
Asia Pacific shares were mixed on Wednesday as concerns surrounding the coronavirus pandemic continued to linger.
Mainland Chinese stocks built on the solid run they've had so far this week as they led gains in the region for yet another day. The (...)
Egypt recorded 1,057 new coronavirus cases on Tuesday, bringing the total infection tally to 77,279 since the outbreak began in February, according to Ahram online.
On Monday, Egypt fell below the 1,000 mark for the first time since late May as the (...)
Egyptian tourism sector's investments are expected to fall to 5.2 billion Egyptian pounds ($324.8 million) within the 2020/2021 financial year, marking a 28.8 percent year-on-year drop, Minister of Planning Hala El-Saeed said on Tuesday.
Earlier, (...)
Egypt's net international reserves (NIR) increased to $38.2 billion for the first time since March, the Central Bank of Egypt (CBE) announced on Tuesday. These reserves stood at $36 billion in May.
Since March, Egypt has seen a decline in its NIRs, (...)
Egyptian banks' profits dropped 6.1 percent to 36.9 billion Egyptian pounds ($2.3 billion) during the third quarter of the financial year 2019/2020 from 39.3 billion pounds last year, according to the Central Bank of Egypt (CBE) data.
Banks' net (...)
Egypt's Finance Ministry approved new customs facilities for purchasing vehicles from abroad, according to a statement issued on Monday.
The new facilities include exempting vehicles with a triptik customs document and which are owned by Egyptians (...)
European stocks dropped on Tuesday morning as worries over the threat to economic recovery of new coronavirus cases in the U.S. and weak German data put the brakes on Monday's rally.
The pan-European Stoxx 600 fell 1.1 percent by late morning, with (...)
Asian markets were mixed on Tuesday as the Reserve Bank of Australia kept its policy settings on hold, according to CNBC.
Stocks in mainland China continued to lead gains among the region's major markets for a second day after Monday's blockbuster (...)
Major Gulf stock stocks increased in early trade on Tuesday, with banking and real estate shares helping indexes in the United Arab Emirates, according to Reuters.
Dubai's main share index rose 0.5 percent, with its largest lender Emirates NBD (...)
Oil increased in early trade on Tuesday with major producers sticking to supply cuts, but earnings were capped as U.S. coronavirus cases surged, potentially hampering a recovery in fuel demand, according to Reuters.
U.S. West Texas Intermediate (...)
Dollar nursed losses on Tuesday and riskier currencies added a fraction to galloping earnings, after better-than-expected U.S. services data provided the latest boost to confidence in a economic recovery from the coronavirus pandemic.
Against a (...)
Gold prices rose on Tuesday, hovering near an eight-year peak, as worries over surging coronavirus cases around the world kept bullion's safety demand elevated, according to Reuters.
Spot gold was 0.1 percent higher at $1,784.99 per ounce by 0037 (...)
Samsung Electronics Co Ltd flagged a 23 percent increase in second-quarter operating profit on Tuesday, beating analysts' estimates on solid chip sales to data centres catering for a work-from-home economy during the novel coronavirus.
The sales (...)
For France, it was the final straw. For Turkey, it was a misunderstanding. For NATO, it could be a turning point, Reuters reported
The incident unfolded quickly in the eastern Mediterranean on June 10, when a French frigate under NATO command tried (...)
Iran has slashed crude oil production to its lowest level in four decades as storage tanks and vessels are almost completely full due to a fall in exports and refinery run cuts caused by the coronavirus , industry data showed.
Total onshore crude (...)
Chinese-owned social media platform TikTok announced on Tuesday it would pull out of Hong Kong within days, as global tech giants struggle to figure out how to operate in the city under sweeping new security rules imposed by Beijing, Reuters (...)
U.S. President Donald Trump criticized the Washington Redskins for reviewing their team name on Monday, as top retailers continued to pull the NFL franchise's merchandise from shelves.
Under mounting pressure from sponsors and racial justice (...)
