Business - Markets & Companies

Oil, gold and dollar prices rise on Tuesday

Benchmark US crude oil for June delivery rose 55 cents to $73.71 a barrel Tuesday. Brent crude for July delivery rose 43 cents to $77.44 a barrel.

Asian, European markets mostly down as US inflation moves into focus

Markets struggled Tuesday as investors eyed the release of US inflation data later in the week, while mixed Chinese trade data suggested that recovery in the world's number two economy was still taking time.

Saudi Aramco banks $31.9bn in first quarter, down 19%

Oil giant Saudi Aramco announced first-quarter net profit of $31.9 billion on Tuesday, down 19.25 percent from a year earlier after a drop in crude prices.

Oil, gold and dollar prices rise on Monday

Benchmark US crude oil for June delivery rose $1.82 to $73.16 a barrel Monday. Brent crude for July delivery rose $1.71 to $77.01 a barrel.

Samsung Electronics Egypt sales reach $1.3 bln

Samsung Electronics Egypt sales have reached $1.3 billion to become the top seller of electronics in the country, according to a statement by the General Authority for Investment and Free Zones (GAFI).

European stocks slide after Fed, before ECB rate calls

European stock markets slid Thursday after the Federal Reserve again hiked US interest rates to fight elevated inflation while hinting the next move could be a pause.

Markets slip after latest Fed rate hike

​Stocks are shifting lower Wednesday after the Federal Reserve announced its latest hike to interest rates but hinted the end to them may be near.

Egypt grants Exits MENA securities promotion, underwriting license

Exits MENA, an Egypt-based fintech investment platform, was granted a securities promotion and underwriting license from the Egyptian Financial Regulatory Authority (FRA) six months after the FRA approved the company's establishment.

Oil, dollar prices fall on Tuesday as gold rise

Benchmark US crude oil for June delivery fell $4 to $71.66 a barrel Tuesday. Brent crude for July delivery fell $3.99 to $75.32 a barrel.

Stock markets dip, dollar rises as Fed begins rate talks

European and US stock markets slid while the dollar mostly firmed Tuesday as focus turned to the US Federal Reserve which kicked off a two-day meeting Tuesday morning to decide whether to raise its benchmark lending rate for a 10th, and possibly final, time to tackle rising prices.

UAE National Paints acquires Egypt state-owned PACHIN in $25 mln deal after intense competition

The UAE’s National Paints acquired on Tuesday 81 percent of Egypt’s state-owned Paint and Chemicals Industries (PACHIN), purchasing a total of 19.358 million of the company’s shares in a deal worth EGP 770.4 million (about $25 million).

Oil, gold prices fall on Monday as dollar rise

Benchmark US crude oil for June delivery fell $1.12 to $75.66 a barrel Friday. Brent crude for July delivery fell $1.02 to $79.31 a barrel.

Stock market today: Markets steady after latest bank failure

Early Wall Street trading is relatively subdued Monday in the wake of the third U.S. bank failure in less than two months.

Oil, gold and dollar prices rise on Thursday

Benchmark US crude oil for June delivery rose 46 cents to $74.76 a barrel Thursday. Brent crude for June delivery rose 68 cents to $78.37 a barrel.

Egyptian discount retailer Kazyon attracts $165 mln investment from Int'l consortium

Development Partners International (DPI), an Africa-focused private investment firm, announced on Thursday a $165 million equity investment in Kazyon Ltd., with co-investors including British International Investment (BII), South Suez and others.

EGX's market cap gains EGP 7 bln in 1st session after Eid

The Egyptian Exchange's (EGX) indices inched higher on Wednesday, except for EGX30, in the first session after the Eid Al-Fitr vacation, while the market capitalization gained EGP 7 billion.

Global shares dip on economy worries

Global shares were mostly lower Wednesday as worries about the global economy flared after a tumble on Wall Street despite some better-than-expected earnings reports.

Oil prices rise on Friday as gold and dollar fall

Benchmark US crude oil for June delivery rose 50 cents to $77.87 a barrel Friday. Brent crude for June delivery rose 56 cents to $81.66 a barrel.

Closing prices for crude oil, gold and other commodities

Benchmark U.S. crude oil for May delivery fell $1.87 to $77.29 a barrel Thursday. Brent crude for June delivery fell $2.02 to $81.10 a barrel.

Oil, gold prices fall on Wednesday, dollar rises

Benchmark US crude oil for May delivery fell $1.70 to $79.16 a barrel Wednesday. Brent crude for June delivery fell $1.65 to $83.12 a barrel.

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