North africa news

The decision will increase investors’ confidence in the Egyptian market
16 February 06:10 PM Interest rates cut to boost all sectors in Egypt – Report
Cairo – Mubasher: The Central Bank of Egypt’s (CBE) decision to cut interest rates by 1% is a boost to investments in all sectors, according to a report released on Saturday by Beltone Financial Holding. The CBE’s decision will increase investors’ …
15 February 11:41 PM Oil settles at 3M high on OPEC output decline
Oil prices finished on Friday at their highest level since last November as crude supplies from the Organization of Petroleum Exporting Countries sustained their decline.
15 February 10:51 PM Gold finishes at 2-week high Friday
Gold settled at a two-week peak on Friday, recording a slight gain for the week on progress in trade talks between the US and China.
15 February 10:15 PM Trump vows to remove China tariffs, if trade deal inked
US President Donald Trump said he will remove duties on Chinese imports, should US and Chinese negotiators manage to hammer out a trade agreement.
15 February 09:46 PM US oil drillers add rigs for second straight week
US energy firms this week raised the number of active rigs drilling for oil for the second consecutive week.
15 February 09:23 PM Trump declares national emergency to build US-Mexico border wall
President Donald Trump on Friday announced that he is using emergency powers in an attempt to fund his pledged wall on the US-Mexico border.
15 February 08:28 PM US slaps sanctions on top Venezuelan officials
The US administration on Friday sanctioned senior Venezuelan security officials as well as the head of state-owned oil Petroleos de Venezuela.
15 February 07:52 PM Mexico to inject $3.6bn into state oil firm Pemex
Mexico will pump $3.6 billion into oil firm Pemex, a move that would include tax cuts and debt refinancing and aims to shore up finances.
15 February 07:21 PM Brexit will not impact security cooperation – intelligence heads
The UK's departure from the European Union would not deter security cooperation with its NATO partners France and Germany.
15 February 06:53 PM US gov’t, Facebook in talks over multibillion-dollar fine–Report
Facebook may pay billions of dollars in fine, if the social media company reaches a settlement with the US administration over security lapses.
15 February 06:29 PM US industrial output declines for first time in 8M
US industrial production growth sank in January, recording the first decline in 8 months, data by the Federal Reserve Bank showed on Friday.
15 February 06:16 PM US consumer sentiment rebounds in February after gov't shutdown
Preliminary estimates released by the University of Michigan indicated that the US consumer confidence recovered by the first half of February.
15 February 05:50 PM US import prices fall for third straight month
The costs of the US import extended their decline in January for the third month in a row, once again helped by lower oil prices.
15 February 05:25 PM NY manufacturing business rebounds from 1-yr trough in February
Manufacturing business activity recovered in February after hitting the lowest level in a year.
15 February 05:06 PM US, China upbeat on talks, despite no trade deal signs
Both US and Chinese officials expressed their optimism regarding the trade talks between the world’s two biggest economies in Beijing this week.
Eni invests in various energy projects in Egypt
15 February 04:49 PM Eni wins two onshore exploration blocks in Egypt
Cairo – Mubasher: Egypt has awarded Italy’s Eni two onshore exploration blocks. Eni holds a 100% stake in the first block, South East Siwa, which covers a 3,013 square kilometres area located in the West Desert. The Italian energy giant will …
15 February 04:27 PM Morgan Stanley urges investors to brace for car tariffs
Morgan Stanley asked investors to prepare for at least a temporary implementation of duties on imported cars before this summer.
15 February 03:55 PM Europe faces critical moment as economy trembles-IMF head
European Union leaders should ramp up their efforts to raise living standards, as doubts by populist movements mounted over the merits of integration.
15 February 03:21 PM Amazon abandons plan for new $5bn HQ in New York
Mubasher: The US-based multinational e-commerce company, Amazon, has waived a plan to build a new headquarters in New York after a wave of criticism.
15 February 02:14 PM Norway nods to mining projects in Arctic
Mubasher: Environmentalists have panicked after the approval of a plan that permits a Norwegian mining company to mine for copper in the Arctic.  
15 February 01:47 PM UK retail sales mark positive growth in January
​​​​​​​Mubasher: The quantity of the UK’s retail sales grew 0.7% quarter-on-quarter during the three-month period ended 31 January.
15 February 12:22 PM Oil begins Friday near stability
Mubasher: Oil went up on Friday, supported by the output cuts led by OPEC and the shutdown of a Saudi offshore oilfield.
14 February 11:12 PM Oil levels up at Thursday’s settlement  
Mubasher: Oil futures ended Thursday in green, supported by the optimism regarding the outcome of the trade talks between the US and China.  
14 February 10:06 PM Gold loses over $1 on Thursday
​​​​​​​Mubasher: Gold settled lower on Thursday, as the US reported negative economic data.
The MPC is paying close attention to all economic developments
14 February 09:33 PM CBE cuts interest rates by 1%
Cairo – Mubasher: The Central Bank of Egypt (CBE) has decided to decrease interest rates by 1%, according to an official statement released on Thursday. The Monetary Policy Committee (MPC) reduced overnight deposit rate, overnight lending rate, …