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HuaweiCAIRO - Mobiserve Holding predicts continued growth in Egypt’s telecom sector as well as the Middle East, with growth expected to be driven by demand for data services and new technologies such as Long Term Evolution and mobile payment solutions.
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KUWAIT CITY - Kuwait’s Global Investment House, or GIH said on Tuesday that it would ask creditors to further extend a deadline for repaying debt to November from June as part of a restructuring proposal it plans to submit soon.
The Indian rupee hit a fresh lifetime low against the dollar, as risk averse global investors drowned out central bank efforts to stem the currency’s slide.
The Kuwait Stock Exchange (KSE) on Wednesday suspended trading in the shares of 31 listed firms, a majority of them investment companies, for failing to report financial results on time.
World stocks dived Wednesday after a failure by Greece’s political leaders to form a coalition government set the stage for new elections next month, keeping Europe’s debt crisis center stage.
Indian gold futures hit their lowest level in six weeks, extending losses for the third straight session on Wednesday, attracting bargain hunting by physical traders, though the rupee hitting a record low capped the downside in prices.
The CEO of JPMorgan Chase offered a quick but blunt apology to shareholders for a $2 billion trading loss that “should never have happened” and survived a push to strip him of the title of chairman of the board.
The rupee hit a record low against the dollar on Wednesday, succumbing to the steep risk aversion hitting global markets and highlighting the vulnerabilities of a country facing challenging fiscal and economic outlooks.
Facebook’s public stock offering this week is projected to generate between $1.6 billion and $2.1 billion through mid-2013 for California’s budget as shareholders cash in their shares.
The chief investment officer at JPMorgan Chase, one of the highest-ranking women on Wall Street, will retire, the company said on Monday. She becomes the first casualty of the bank’s $2 billion trading blunder.