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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A man pushes his shopping cart down an aisle at a Home Depot store in New York, July 29, 2010.
REUTERS/SHANNON STAPLETON

U.S. Economy Bounces back with 255,000 Jobs Added to July Payrolls

by Asharq Al-Awsat English | Aug 5, 2016 | Business

Government figures on Friday showed that the number of jobs on US payrolls increased by 255,000 in July. The added employments proved lower than revised figures showing 292,000 jobs added in June, but well above the 24,000 jobs added in May. The unemployment rate was...

Media ID: 55355174
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A man walks past the headquarters of Saudi Basic Industries Corp (SABIC) in Riyadh October 27, 2013. REUTERS/Faisal Al Nasser

Saudi Iron Ore Industrialists Consider Lower Rates

by Fahd Baqmi | Jul 26, 2016 | Business

Jeddah- In light of increasing demand on iron ore, Saudi Arabia’s factories are in the process of reconsidering rates as market competitiveness grows, setting up local products versus imports. Workers at the iron ore industry told Asharq Al-Awsat newspaper that...

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Saudi Stocks Soak up Brexit ‘Shock’

by Shuja Al-Baqmi | Jun 27, 2016 | Business

Riyadh- Saudi Stock made it through the Sunday session digesting Brexit aftermath. Stock market indices closed down on a minor 72-points loss, after experiencing a previous misfortunate 300-point plunge. All sectors of banking, petrochemicals, cement and communication...