Daily brief: World Government Summit in Dubai, Egypt inflation jumps

February 12, 2017 9:33 am

Stack of newspapers. (Image: Alamy)

The three-day World Government Summit kick started its activities in Dubai on Sunday. Here are the top seven business stories you need to know today.

 

Dollar rises on hopes for Trump tax reform

The U.S. dollar hovered near its highest level against a basket of major rivals in 11 days on Friday after comments from U.S. President Donald Trump did little to shake optimism that his administration would reform tax policy soon.

 

Egypt’s urban inflation jumps to 28.1% in January

Egypt’s annualised urban consumer price inflation jumped to 28.1 per cent in January from 23.3 per cent in December, the official CAPMAS statistics agency said on Saturday, its highest level since central bank records began in 2005.

 

(Egypt’s foreign currency inflows rise, investors still need reassurance)

 

Toshiba loses $3.5 bn loss in third quarter: Nikkei

Japanese conglomerate Toshiba Corp probably suffered a group net loss  of about 400 billion yen ($3.52 billion) in the nine months through December, the Nikkei reported on Sunday.

The loss is largely due to a goodwill impairment of around 600 billion yen on a US nuclear unit that came to light in late 2016.

 

World Government Summit kicks off in Dubai

World Government Summit, a gathering bringing together prominent leaders from the public and private sectors under one roof, to engage in shaping the future, has kick-started its three-day activities in the emirate of Dubai on Sunday.

 

(Last year, then-president Obama hailed US-UAE ties at the World Government Summit in Dubai)

Kuwait ministry awards Zain 22mn dinars contract

The Kuwaiti Ministry of Electricity and Water awarded telecommunications service provider, Zain, a contract worth 22 million dinars, to develop and operate new smart metres and telecoms network for the ministry, the company announced Sunday.

 

New Qatar transit visa scheme to benefit hospitality

A newly introduced transit visa scheme in Qatar was warmly welcomed by the hospitality sector in the country, as it will consequently mean more business.

 

(Qatar Holding to invest $250 million in India affordable housing)

 

Dubai construction sector looking bright this year, report reveals

Dubai’s construction sector is looking to maintain a positive growth through 2017, with 4,000 construction projects worth $313.6 billion currently in the pipeline, a new report has found.

 

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By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.



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