Egypt

Egypt protests rally stocks in Dubai and Abu Dhabi

hosni-mubarakWorld markets tell a different story as Egyptian President Hosni Mubarak vows that after the next elections he would step down, failing to placate the protesting civilians.

The Arab World saw a steep rise in stocks, especially in Dubai and Abu Dhabi, in the aftermath of that seemed to convince investors as the Egypt's unrest is reaching an apex.

Egypt crisis keeps markets on toes

Dubai-Stock-MarketThe political crisis in Egypt forced the Arabian markets to be on the edge all through the morning. And looking at the kind of losses the Saudi Arabian markets had seen on Monday, it is expected that they are going to rattle tomorrow as well.

Now You Cannot Search the Chinese Word “Egypt” In China

Now You Cannot Search the Chinese Word “Egypt” In ChinaThe Chinese government is trying to restrict people from knowing about the unrest going on in the Egypt. The micro blogs have thus blocked the word “Egypt” for searching.

The Chinese twitter-like services operated by Sina gave no result to the Chinese word “Egypt”. The English word “Egypt” can still be searchable on the search engines.

Dana Gas production in Egypt flows 20 pct during 2010

Dana-GasOn Tuesday, Dana Gas expressed that its production in Egypt augmented by 20 percent during 2010 supported by production through seven latest fields at the Nile Delta.

Productivity strike 42,000 barrels of oil alike per day (boepd) during 2010 and is anticipated to increase to 67,000 boepd during mid-2012, Dana expressed the data in a report to the Abu Dhabi bourse. Dana managed to discover 14 wells this year with the initial, Sanabel-1, in progress.

UAE increases trade relations with Egypt

Sultan Bin Saeed Al MansouriThe investments made by UAE in the Egyptian nation have touched Dh36.7 billion ($10 billion) within 520 projects, as reported by the latest issue by the UAE Minister of Economy.

These investments comprise of projects in the industry, construction, urban development, housing, infrastructure, financing projects, communications, and also the agricultural and tourist development projects.

Approval of plan by ministers

Rachid-Mohamed-RachidRecently a plan was approved by the Council of Ministers to attract United Arab Emirates (UAE) investment to Egypt.

It also decided to form committees which were started by Minister of Trade and Industry Rachid Mohamed Rachid. This was done to meet with UAE representatives every three months so as to talk about investment opportunities in energy, real land, transport, and infrastructure.

Egypt, Abu Dhabi fund sign $49 million worth contract

ADFDIn a press release, an official spokesperson on behalf of the Egyptian government has told reporters that ADFD or the Abu Dhabi Fund for Development has made MOU with the government of AED 183.560 million worth contract has been duly signed by representatives and top brass of ADFD and Egyptian government to boost up the power station in Banha.

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