Daily brief: US, UK curb electronics on some flights; oil to drag Gulf stock
The United States and Britain imposed restrictions on carry-on electronic devices on board flights coming from some Middle Eastern countries. Here are the top seven business stories you need to know today.
Gulf looks set to follow oil, international bourses lower
A big overnight drop in crude oil prices and losses on international bourses look set to drag stock markets in the Gulf lower on Wednesday.
UAE’s Arabtec Holding updates backlog of existing and future projects
The backlog of existing and committed future projects stands at 18 billion dirhams, according to the company.
US, UK curb electronics on flights from Middle East, North Africa
The United States and Britain on Tuesday imposed restrictions on carry-on electronic devices on planes coming from certain countries in the Middle East and North Africa in response to unspecified security threats.
Egypt extends capital gains tax freeze, approves stamp duty on stocks
The Egyptian government approved on Tuesday the extension of a freeze on a capital gains tax for three years from May 17, the state news agency MENA reported.
German refusals for arms exports to Turkey spike in past months: report
Germany has rejected an unusually high number of requests for arms exports to Turkey in recent months due to mounting
concerns about deteriorating human rights in the NATO country, the German newspaper Sueddeutsche Zeitung reported on Tuesday.
US oil hits November low as fresh glut fears overshadow OPEC cut talk
Oil prices fell on Tuesday, with U.S. crude dropping to its lowest since November, as concerns about new supplies overshadowed the latest talk by OPEC that it was looking to extend output cuts beyond June.
EBRD targets 1bn euros investments in Egypt this year after float
The European Bank for Reconstruction and Development expects to invest about one billion euros ($1.1 billion) in Egypt this year, following a revival in investor interest after it floated its pound currency in November, EBRD officials said on Tuesday.