Desert sands blowing into the gears of the economy January 31, 2011 THE LAST time Egypt unsettled international markets this badly was in 1973. On 6 October of that year, the Egyptian army mounted a shock assault on the Israeli occupied Sinai Peninsula. After initially losing ground, the Israeli army rapidly recovered, fighting back until a ceasefire was agreed on 25 October. The war, though relatively small, [...]
Oil hits new highs after fresh Middle East tension February 16, 2011 BRENT crude oil prices surged to near two-and-a-half year highs yesterday as fresh tensions between Israel and Iran added to spreading unrest in the Middle East. Israel’s foreign minister, Avigdor Lieberman, said two Iranian warships planned to sail through the Suez canal en route to Syria and called the move a “provocation”, sending up prices [...]
Oil hits new highs after fresh Middle East tension February 16, 2011 BRENT crude oil prices surged to near two-and-a-half year highs yesterday as fresh tensions between Israel and Iran added to spreading unrest in the Middle East. Israel’s foreign minister, Avigdor Lieberman, said two Iranian warships planned to sail through the Suez canal en route to Syria and called the move a “provocation”, sending up prices [...]
Oil hits $100 due to Suez supply fears January 31, 2011 OIL surged over $100 a barrel for the first time in more than two years yesterday as investors feared the turmoil engulfing Egypt could disrupt shipments passing through the Suez canal and impact supply. Brent crude for March, the global benchmark, leapt by $1.59 to settle at $101.01 a barrel – the highest since Lehman [...]
Wall St rises despite Middle East unrest February 17, 2011 US investors piled on a dizzying two-year advance in stocks yesterday, using a brief slip on negative economic news as an opportunity to buy into market leaders. The technology sector showed strength, with Nvidia up 9.8 per cent to $25.68 a day after posting a bullish revenue forecast on accelerating sales of its processors. An [...]
Egypt crisis takes its toll on markets January 30, 2011 EGYPTIAN President Hosni Mubarak clung with a grim determination to power last night as pressure on him to step down intensified. Outbursts of violence escalated as anti-government protests threatened to descend into chaos, sending markets tumbling across the region. At least four prisons were stormed by armed raiders and the Egyptian Museum in Cairo was [...]
S&P 500 bounces after Dell results February 16, 2011 THE S&P 500 rose yesterday to twice its value from just two years ago, in a bounce that showed vigour not seen since the Great Depression. Stocks were boosted by Dell’s earnings and deal announcements that fuelled hopes for gains, but light volume made the move more tenuous. The market overcame concerns about tensions between [...]
S&P 500 bounces after Dell results February 16, 2011 THE S&P 500 rose yesterday to twice its value from just two years ago, in a bounce that showed vigour not seen since the Great Depression. Stocks were boosted by Dell’s earnings and deal announcements that fuelled hopes for gains, but light volume made the move more tenuous. The market overcame concerns about tensions between [...]
Egypt President finally agrees to stand down February 1, 2011 EGYPTIAN President Hosni Mubarak finally bowed to massive collective pressure yesterday, saying he would step down at the September election, once a successor is elected. His move followed eight consecutive days of protests, culminating with more than a million citizens taking to the streets yesterday calling for the former general to step aside. In Cairo’s [...]
Egypt President finally agrees to stand down February 1, 2011 EGYPTIAN President Hosni Mubarak finally bowed to massive collective pressure yesterday, saying he would step down at the September election, once a successor is elected. His move followed eight consecutive days of protests, culminating with more than a million citizens taking to the streets yesterday calling for the former general to step aside. In Cairo’s [...]