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Toshiba auditor to split opinion on finances, governance

Source: Reuters. The auditor for Toshiba Corp is likely to sign off on the conglomerate's annual results while giving a thumbs down on the group's corporate governance during a series of crises, people with direct knowledge of the discussions said on Tuesday. PricewaterhouseCoopers Aarata LLC will give a "qualified opinion" endorsing Toshiba's

Oil prices slip despite news of lower Saudi supply

Source: Reuters. Oil prices fell on Tuesday on increasing exports from key OPEC producers despite news of lower crude shipments from Saudi Arabia. Production from Libya's 270,000 bpd Sharara field is returning to normal after a disruption when protesters broke into a control room, the National Oil Corp said. Libya is exempt from

Saudi prince to invest about $800 million in Egypt

Source: Reuters. Saudi Arabia's Prince Alwaleed bin Talal will invest about $800 million to expand the Four Seasons resort in Sharm el-Sheikh, in partnership with Talaat Moustafa Holding Group, Egypt's Investment Minister Sahar Nasr said on Monday. Billionaire Alwaleed's investment will also include establishing two new hotels in al-Alamein, a town on

Egypt’s stock exchange gets new chairman

Source: Reuters. Egypt's prime minister has appointed Mohamed Farid Saleh as the new chairman of the country's stock exchange, the investment ministry said on Sunday. Saleh, a former vice chairman of Egyptian Exchange (EGX), will replace Mohamed Omran whose four year term ends this week. An economist, Saleh helped to launch the first

Egypt’s Suez Canal revenues jump to $446.3 million

Source: Reuters. Egypt's Suez Canal revenues jumped to $446.3 million in July from $427.2 million in June, according to Reuters' calculations. A statement from the canal's authority said on Sunday that its revenues stood at $2.938 billion from January to July. In July last year, revenues stood at $429 million. The Suez Canal is

Investments in South Sinai

The Minister of Investment and International Cooperation Dr. Sahar Nasr met with Governor of South Sinai Maj. Gen. Khaled Fouda. Both sides discussed the governorate's investment opportunities and plans till 2030, and the utilization of its vast areas that require investment projects as well as proposals on several projects, including

German fund to improve urban transportation

Source: Reuters. Foreign carmakers should contribute to a proposed German fund set up to improve urban transport infrastructure, BMW (BMWG.DE) CEO Harald Krueger has told a German newspaper, only days after a deal was reached to cut pollution and avert a ban on diesel engines. "It would send a good signal if

Apple launches a new smart watch

Source: Reuters. Apple form a smart watch in this year that can makes a call, sending messages, listening to music or getting the directions from Google maps. It is just required to connect with the iPhone to use it in a simple way. So the iPhone can be dispensed with this smart

Petroleum production rates are ‘unprecedented .

Source: Ahram Online. Foreign direct investment in Egypt is expected to have risen to about $8.7 billion in the 2016-17 fiscal year that ended last June, compared to about $6.9 billion the previous year, an Investment Ministry statement said on Friday. Egypt late last year signed a $12 billion three-year International Monetary