Egypt was able to leverage a longer term to pay back the aid package provided by Kuwait. Kuwait had given Egypt five years to repay a USD2 billion central bank deposit.
Industry
Fidelity Investments joins ETF market
Seeing a decline in its fees and revenues in its current market, Fidelity Investments goes into ETF management, a market dominated by the Vanguard Group and BlackRock Inc.
Kuwait reviewing its subsidies system
Kuwaiti Finance Minister Sheikh Salem Abdulaziz al-Sabah said the government is reviewing its subsidies system to its residents and subsidies.
Mobile phone number portability to go online by December - TRA UAE
The Telecommunications Regulatory Authority of UAE would, after a five year wait, put the mobile phone number portability system operational by December.
Petrobras lands Libra license to operate
With its consortium, Petrobras leads to extract the oil from the Libra pre-salt mine. A consortium led by Petroleo Brasileiro SA had landed a license to develop the largest oil discovery in Brazil under terms that had exceeded projections.
Latest News
The high rate of non-use in Twitter is what may challenge investors in their decision come IPO time.
Samsung is first in the smart watch race but Apple may win it all. Samsung had beaten Apple in the smart watch race. The main issue now is that the Galaxy Gear have been tepid at best.
In a speaking engagement in India, BP CEO Bob Dudley said market pricing of natural gas in the country is the proper way to do it.
Pope Francis meets with ECB President Mario Draghi for unspecified matters. The head of the Roman Catholic Church, Pope Francis, had held discussions with European Central Bank President Mario Draghi during a private audience held last Saturday.
Because of findings by gaming authorities as to alleged Russian mob ties, Caesars Entertainment drops Ganesvoort Hotel from its partner-investors listings.
Bernie Madoff's sons were vindicated for the civil case over the properties of their father in the UK.
Bondholders were sought protected by Mario Draghi through the European Central Bank. The European Central Bank head Mario Draghi informed the European Commission last month requesting that bondholders be spared any losses in the event a bank rescue occurs until such time an EU banking union is put in place.
Fresh investments were promised by BP and Reliance Industries in oil and gas. The top executives of BP and Reliance Industries, CEO Bob Dudley and Chairman Mukesh Ambani respectively, jointly promised fresh investments worth up to USD10 billion in oil and gas.
Dubai Land Department's managing director announced the launch of its e-Market website during the GITEX Information and Technology Exhibition.
