Egypt’s index inches up, banks gain
CAIRO: Egypt’s benchmark share index inched up 0.9 percent led by the banking sector on positive global sentiment after the US Federal Reserve announced its $600 billion asset buying plan…
Egypt duo to hold Washington talks on peace process
CAIRO: Egypt's intelligence chief and foreign minister are to travel to Washington on Tuesday for talks with Secretary of State Hillary Clinton on the floundering Middle East peace process, the…
OECD launches second phase of Business Climate development strategy for Egypt
CAIRO: “We believe that the last few years, we were learning to walk and that now is the time for us to run, we cannot just continue walking. We…
Amer Group to raise LE 1.15 bln through IPO and private placement
CAIRO: Amer Group, a local real estate development firm, announced this past weekend that it intends on raising LE 930 million through a private placement and LE 220 million through…
Kuwait may buy GM stocks: investment chief
KUWAIT CITY: Kuwait Investment Authority, the oil-rich Gulf state's sovereign wealth fund, will take part in the US General Motors new stock offering if it is "feasible," the KIA chief…
Wataniya Palestine launches $50 mln IPO
RAMALLAH: Mobile telephone operator Wataniya Palestine launched an initial public offering (IPO) on Sunday to raise $50 million for financing an expansion of its network, the firm's chief executive said.…
UAE gold sales down 10 pct in Oct: retailers
DUBAI: Retail gold sales volumes in Dubai and Abu Dhabi fell by around 10 percent on the year in October as high gold prices deterred consumers despite the Indian festive…
Ports operator DP World updates bond prospectus
DUBAI: Dubai-based global ports operator DP World, a unit of conglomerate Dubai World filed an updated prospectus for a $5 billion bond program, raising the possibility of an issue in…
Gulf Arab customs union in final stages: UAE
DUBAI: Gulf Arab oil producing countries are in the final stages of reaching a deal on how to distribute revenues from customs duties, a senior official at the United Arab…
US deploys Predator drones in Yemen: report
WASHINGTON: The administration of President Barack Obama has deployed unmanned Predator drones in Yemen to hunt for Al-Qaeda operatives who are becoming increasingly active in that Arab country, The Washington…