Egypt news

12:48 AM Trump wants Fed to stop interest hikes  
Mubasher: The President of the United States hopes that the Federal Reserve will not be raising interest rates anymore
12:40 AM US budget deficit up 48% in November 
The United States saw a jump in the budget deficit in November, due to an increased public spending.
12:34 AM Oil settles with big gains 
Oil prices ended today's trading session on a higher note supported by plans by major producers to cut crude output
12:26 AM Gold settles lower Thursday 
Gold prices declined on Thursday, with the US dollar showing a strong performance against major currencies
Bahrain's government is currently working on a raft of policies to prop up startups
13 December 09:20 PM Bahrain eyes becoming innovative hub for startups in GCC- EDB
By: Mohammad Shokhba Cairo – Mubasher: Bahrain is seeking to be the innovative hub for startups in the GCC region, Mohamed Hejres, senior manager of investors relations and government affairs at the Bahrain Economic Development Board (EDB), said. …
13 December 09:10 PM Hermes expects CBE to lower interest 2% 
EFG Hermes expects interest rates in Egypt to decline by 2% next year
13 December 08:48 PM EGX recovers, ends week in gains 
The Egyptian Exchange (EGX) ended the second week of December on a positive note, recovering some of its recent losses
13 December 06:34 PM US natural gas storage drops as prices surge
The US natural gas inventories dropped by 77 billion cubic feet (Bcf) in the week ended 7 December to a total of 2,914 Bcf.
13 December 06:30 PM ECB’s head sees economic risks ‘moving to downside’
The European Central Bank President Mario Draghi warned that economic risks facing the Eurozone are now “moving to the downside.”
13 December 06:11 PM Egypt’s budget deficit up 20% in Q1
Mubasher: A recent report by the Egyptian finance ministry showed an increase in budget deficit by 20% during the first quarter
13 December 05:00 PM US weekly jobless claims drop 27,000 in early December
US unemployment claims dropped 27,000 week-on-week to 206,000 claims in the week ended 8 December, data released on Thursday showed.
13 December 04:50 PM US import prices record largest drop in 3 yrs
The costs of the US import dropped in November, helped mainly by lower fuel prices, data released on Thursday showed.
Managing director of Philip Morris Misr and Levant Vassilis Gkatzelis
13 December 04:16 PM Philip Morris injects $4.5bn in smoke-free products development - Interview
By: Abdullah Bedeir  Cairo – Mubasher: Philip Morris International (PMI) has invested over $4.5 billion into research, development, and commercialisation of smoke-free products. PMI is looking to offer smokers reduced risk products instead of …
EGX30 index rose 1.09%, finishing the session at 12,996.89 points
13 December 04:13 PM EGX ends Thursday in green
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Thursday’s trading session up, backed by foreign buying. The benchmark EGX30 index rose 1.09%, finishing the session at 12,996.89 points. The small- and mid-cap EGX70 index edged up 0.3% to …
13 December 04:02 PM ECB holds interest rates; QE to end in December
The European Central Bank on Thursday decided to keep its key interest rates on hold.
13 December 03:48 PM Turkey holds interest rate unchanged
Turkey's central bank on Thursday kept its benchmark rate unchanged.
The ministry aims to exchange expertise in the fields of safety and professional health
13 December 03:33 PM Egypt, US Schlumberger ink 3 MOUs
Cairo – Mubasher: The Egyptian petroleum ministry has signed three memorandums of understanding (MoUs) with the world's largest oilfield services company Schlumberger Limited. Upon the first agreement, the US-based firm will provide several …
13 December 03:31 PM Swiss maintains ultra-loose policy, slashes inflation outlook
Switzerland's central bank left its expansive monetary policy unchanged, lowering its inflation forecast for next year citing strong Swiss franc and economic downside risks.
13 December 02:59 PM Norway puts rate on hold, expects slower tightening pace
Norway's central bank left its benchmark interest rate unchanged, but said it would tighten cost of borrowing at a slightly slower pace than previously planned.
Egyptian President Abdel Fattah El-Sisi
13 December 02:56 PM El-Sisi nods to EUR 150m loans from AFDB
Cairo – Mubasher: Egyptian President Abdel Fattah El-Sisi has approved two loans worth EUR 150 million from the African Development Bank Group (AFDB). El-Sisi also issued the presidential decree number 178 for 2018, approving a $100 million loan …
13 December 02:19 PM Hassan Allam to float 30-35% stake on EGX in 2019
The IPO is likely to be the biggest on the Egyptian bourse since end-2016
13 December 02:18 PM Egypt mulls hosting 2019 Africa Cup
Egypt's minister of youth and sports Ashraf Sobhi
Saudi Arabia mulls Red Sea bloc for Arab, African nations
13 December 02:10 PM Saudi Arabia mulls Red Sea bloc for Arab, African nations
Riyadh – Mubasher: Saudi Arabia, the world's largest oil producer, is mulling over bringing several countries lining the Red Sea and Gulf of Aden into a bloc in an effort to prop up trade and maritime navigation, according to state-backed media. …
13 December 01:47 PM Global oil supply could tighten more rapidly in 2019–IEA
The global oil market could shift into supply shortage sooner than expected, the International Energy Agency said on Thursday.
13 December 12:51 PM Apple plans to establish $1bn campus in Texas
Apple on Thursday said that it would invest $1 billion to build a new campus in Texas, with another $10 billion for new data centres.