Oil prices tumbled Wednesday as investors tracked signs that the US and Iran were closing in on a deal that would open up the Strait of Hormuz to Gulf crude shipments and avoid a resumption of the Mideast war.
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Asian equities were mixed on Wednesday with gains driven by soaring tech stocks and guarded optimism the United States and Iran will reach a peace deal.
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The US stock market is rising on Tuesday as it catches up with others around the world that climbed the day before, when President Donald Trump said negotiations were “proceeding nicely” with Iran on ending their war.
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The US stock market is drifting on Thursday following a rebound for oil prices and mixed reports on the US economy.
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The Dubai-based Americana Restaurants and Abu Dhabi national oil company ADNOC Distribution have signed a strategic partnership to roll out up to 200 quick-service restaurant outlets across ADNOC Distribution service stations in Egypt, Saudi Arabia, and the UAE, the two companies announced on Tuesday.
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Asian markets wavered Tuesday, with tech stocks leading losses as investors tracked easing oil prices and cautious optimism over a potential US-Iran deal.
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Egypt’s General Authority for Land and Dry Ports (GALDP) has signed a memorandum of understanding (MoU) with local firm Sky Ports to finance, design, construct and operate and maintain a dry port and logistics zone in Borg El Arab city, the Ministry of Transport stated on Monday.
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For decades, Egyptians seeking to preserve their savings traditionally turned to gold, real estate, and certificates of deposit (CDs) as safe investment havens. But the country’s savings map has recently begun to shift, with investment funds increasingly emerging as an alternative for citizens seeking more diversified, flexible, and higher-yielding investment opportunities.
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European and US stock markets climbed on Thursday as a tech-fuelled rally rolled on, even as the United States and China were locked in talks in Beijing, accompanied by key US business leaders hoping for deals.
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Oil prices rallied, and stock markets fell on Tuesday as investors braced for further volatility after talks appeared to stall on ending the Middle East war and reopening the Strait of Hormuz to tanker and cargo ship traffic.
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Global shares mostly gained on Wednesday and oil prices fell as hopes rose for progress in ending the war with Iran.
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The US stock market is rising toward records on Tuesday after an easing of oil prices let Wall Street turn its focus back to the big profits that companies keep producing.
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Egypt’s Cairo for Investment and Development Company (CID) has launched a new round of investment opportunities at Robbiki Leather City, offering 31 fully equipped production units ready for immediate operation, along with five service units, as part of efforts to localize industry and boost manufacturing capacity, according to a statement by the Ministry of Industry on Monday.
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The global business landscape is shifting rapidly, and for entrepreneurs looking toward the Middle East, Africa, and South Asia, there is no platform quite like the Dubai International Financial Centre.
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Oil prices jumped on Tuesday, climbing back above $110 per barrel, amid a lack of progress in re-opening the key Strait of Hormuz.
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Egypt’s Suez Canal Economic Zone (SCZone) has signed a deal with two Turkish firms to build an $8 million garment factory in the Qantara West Industrial Zone, as Cairo seeks to expand exports and manufacturing.
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Egypt’s Administrative Capital for Urban Development company (ACUD) has signed an agreement with Polaris International Industrial Parks (PIIP) to launch a new industrial complex with investments of $120 million, according to an ACUD statement on Sunday.
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A consortium of Egypt’s Hassan Allam Holding and Saudi Arabia’s Al Bawani Holding has been awarded a $490 million contract to construct the Saudi Museum of Contemporary Art in Diriyah, according to a joint statement released on Sunday.
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Egypt’s ZeroTech Electronics has entered Apple’s Made for iPhone/iPad (MFi) programme after securing certification for its locally manufactured chargers, including cables and adapters, in cooperation with the Arab Organization for Industrialization (AOI), the company stated on Saturday.
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Pre-based global beverage company AJE Group has announced plans to expand its operations in Egypt’s food and beverage sector, establish a new investment zone, and increase its investments to $150 million by 2030 in Egypt, from the current $60 million, according to a Ministry of Investment and Foreign Trade statement.
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