Business

Investment into Africa may buck the global downward trend and stage a rebound this year despite low prices hitting the oil and gas sector, a UN agency said Thursday. While foreign direct investment, a key driver of trade and economic growth, is set to drop by 10 to 15 percent …

Egypt moved from 116th to 115th in the World Economic Forum’s Global competitiveness report, published at the end of September 2016. According to the authors of the report: “To create growth and employment, Egypt could build on its large market size (25th); its business sector, which by some accounts appears more …

Travellers interested in ancient Egypt or Nile cruises can now fly directly to Luxor following news that Egyptair has launched direct weekly flights between Heathrow and Luxor with return prices starting at £380. The five hour and twenty minute flight leaves London Heathrow at 17:00 and arrives in Luxor at 23.20. …

Oil prices finished higher in New York on Friday, two days after producing countries reached the consensus needed for a production cut. However prices edged lower in London, failing to break the threshold of $50 a barrel. On the New York Mercantile Exchange, a barrel of West Texas Intermediate for …

Algerian Energy Minister Noureddine Boutarfa on Wednesday pressed demands for action on an oil supply glut and higher investment to stabilise the market as an informal OPEC meeting in Algiers began. “We must act on supply to re-stabilise the market” which has been hit by a massive surplus that has …