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Asian markets slip on weak US manufacturing

Hong Kong (AFP) – Asian markets slipped further on Wednesday following losses in Europe and on Wall Street after a third straight monthly contraction in US manufacturing activity. The disappointing US data followed poor numbers on factory activity from Asia and Europe but dealers looked forward to a European Central Bank meeting, optimistic there would …

Daily News Egypt

Facebook at half-price: which way now?

Washington (AFP) — If you bought Facebook shares in the May IPO and held onto them, by Monday morning you would have lost more than half your investment, and not see any encouraging signs of making your money back. Three months after the largest tech share issue ever on US markets, Facebook fell to a …

Daily News Egypt

The EGPC issues new bid round for 20 blocks

By Islam Serour The Egyptian General Petroleum Corporation(EGPC) announced a new bid round for 20 blocks in the areas of the Eastern and Western Deserts exploration. Total investments according Hani Dahy, Chairman of the EGPC, is estimated to amount to $8.5 billion in the 2012-2013 fiscal year. Adel Saeed, the EGPC’s Vice Chairman for Agreements, …

Daily News Egypt

Exports on a downward trajectory

  Egyptian exports continued a decline that started at the beginning of the current year, recording only EGP 78.8 billion in the first half of 2012, compared to EGP 79.45 billion in the first half of 2011. Exports fell 17 percent in July, coming in at EGP 9.385 billion, compared to EGP 11.293 billion in …

Daily News Egypt

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