Egypt’s foreign reserves at $35.28 bln at end-July
Egypt's net foreign reserves rose to $35.28 billion in July, from $35.22 billion a month earlier, the Central Bank of Egypt said on its website on Thursday. In July 2009,…
Formosa sells 2 mln bbls Aug Oman crude after fire
SINGAPORE: Taiwan's Formosa Petrochemical Corp sold nearly 2.0 million barrels of Oman crude for August loading in the spot market after a blast forced it to shut its refinery in…
Lecico Q2 profit hit by warehouse fire
Egyptian sanitary ware and ceramics maker Lecico posted a decline in second-quarter revenue and net profit on Thursday, hit by costs from a fire at one of its export warehouses.…
Less Than One in 25 Emiratis Walk Regularly
A mere four percent on people living in the United Arab Emirates walk on a weekly basis, a new study by an international shoe maker has found. Commissioned by South…
NSGB says H1 net profit rises 12.5 pct
National Societe General Bank (NSGB), Egypt's second biggest private bank by assets, said second quarter net profit jumped 28 percent, coming in at the high end of analyst forecasts. Net…
Industries Qatar in focus, markets seen flat
DOHA: Industries Qatar will be in focus on Thursday after its second-quarter results beat analysts' forecasts. The Gulf's second-largest chemical producer by market value made a second-quarter net profit of…
Bahrain banking outlook remains negative
MANAMA: The outlook for Bahrain's banking system remains negative as more losses loom mainly due to exposure to local and regional real estate, rating agency Moody's said on Thursday. The…
Trading in Kuwait’s Agility halted on media report
KUWAIT: Trading in Kuwait's logistics firm Agility was halted on Thursday on a media report that U.S. prosecutors were going to drop fraud charges against it. The bourse did not…
UAE aims to increase oil output capacity by 2018
DUBAI: The United Arab Emirates aims to increase its oil production capacity to 3.5 million barrels per day (bpd) by 2018 from 2.7 million bpd now, said a government report…
No war likely on Lebanon-Israel border for now, analysts
BEIRUT: An escalation along the Lebanese-Israeli border is unlikely despite this week's deadly clashes as all parties, including Hezbollah, appear keen on containing the situation, at least for now, analysts…