Middle-east Arab News Opinion | Asharq Al-awsat

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economy

Egypt Hikes Electricity Prices 40 Percent as Stage Three of Economic Reform Launches

by Sabri Najeh | Aug 9, 2016 | Business

Cairo- Egypt officially raised electricity prices at a 40 percent rate on Monday; the increase is a part of the 5-year reform plan implemented to further bolster and support the country’s economy. The new rates will be effective as of September. Electricity Minister...

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Egypt central bank seen hiking rates at Thursday’s MPC meeting, Reuters

IMF Loan: Possibly Egypt’s Last Chance

by Sabri Najeh | Aug 1, 2016 | Business

Cairo- The Egypt environment for investment comes in with many burdens, most of which are a result of the many challenges facing the economy when it comes to attracting foreign investment. The bureaucratic strata and red tape procedures have always inhibited Cairo’s...

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Activists protest the Shell Oil Company’s drilling rig Polar Pioneer which is parked at Terminal 5 at the Port of Seattle, Washington May 16, 2015. Hundreds of activists in kayaks and small boats fanned out on a Seattle bay to protest plans by Royal Dutch Shell to resume oil exploration in the Arctic and keep two of its drilling rigs stored in the city’s port. REUTERS/Jason Redmond

U.S. Data Exerts Pressure on Oil Prices

by Sabri Najeh | Jul 31, 2016 | Business

Cairo- U.S. data played a crucial role in determining oil prices during last week’s sessions and is expected to play a similar role next week. This week, the U.S. drillers added three new oil rigs for a fifth consecutive week, bringing the total rig count up to 374...

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Pump jacks are seen at the Lukoil company owned Imilorskoye oil field, as the sun sets, outside the West Siberian city of Kogalym, Russia, in this January 25, 2016 file photo. REUTERS/Sergei Karpukhin/Files

Iran and Libya Pressure Oil Prices

by Sabri Najeh | May 24, 2016 | Business

Cairo – For the fourth consecutive session, oil prices continue to fall reaching $48 a barrel. Oil prices fell this low because of Iran’s rejection to limit oil production, Libya’s increased production of crude oil, and doubts about reaching an agreement in the...