Latest news with #TalaRamadan
Zawya
a day ago
- Business
- Zawya
Egypt current account deficit narrows to $13.2bln in July-March 2024/25
Egypt's current account deficit decreased to $13.2 billion in July to March 2024/25 from $17.1 billion in the same period a year earlier, the central bank said on Tuesday, Egypt's central bank said on Tuesday. (Reporting by Ahmed Elimam and Tala Ramadan, Writing by Jaidaa Taha, Editing by Louise Heavens)
Zawya
15-07-2025
- Business
- Zawya
Iraq signs preliminary agreement with HKN Energy to develop Himreen oilfield
Iraq has signed a preliminary agreement with U.S. company HKN Energy to develop the Himreen oilfield in northern Iraq, the country's oil ministry said on Tuesday. The ministry added that Iraq is aiming to boost oil production from Himreen to 60,000 barrels per day from current output levels of 20,000 to 25,000 bpd. The announcement comes as HKN Energy said that an explosion halted production at the Sarsang oilfield, which it operates in Iraq's Kurdistan region. (Reporting by Ahmed Elimam and Tala Ramadan; Editing by Kirsten Donovan)
Zawya
03-07-2025
- Business
- Zawya
Libya's AGOCO completes Hamada-Zawiya oil pipeline repairs
TRIPOLI - Libya's Arabian Gulf Oil Company (AGOCO) has completed repairs to a crude oil pipeline leak along the 18-inch Hamada-Zawiya line, it said on Thursday, after an oil leak in late May. The leak prompted full isolation of the pipeline to halt the flow of crude, followed by the suction of oil from the pipeline and its return to the Tahara field for repumping. Zawiya, 40 km (25 miles) west of Tripoli, is home to Libya's biggest functioning refinery, with capacity of 120,000 barrels per day (bpd). The refinery is connected to the country's 300,000 bpd Sharara oilfield. (Reporting by Ahmed Elumami Writing by Tala Ramadan Editing by David Goodman )
Zawya
25-06-2025
- Business
- Zawya
Egypt sells $1bln in 3-year sukuk to Kuwait Finance House
Egypt has sold $1 billion in three-year Islamic bonds, or sukuk, to Kuwait Finance House, an Islamic bank, Egypt's finance ministry said on Wednesday. The sukuk, which carried an annual coupon of 7.875%, was the second such instrument issued since the government put a $5 billion sukuk programme in place. The first sukuk, for $1.5 billion, was sold in February 2023 with an 11% yield. Egypt's finance minister said in April that Egypt would sell $2 billion in sukuk in 2025. The new sukuk will help repay a $1.5 billion, 10-year Eurobond which, according to central bank data, matures this month. The Egyptian government had been struggling to find foreign currency even before the latest fighting between Israel and Iran. The government has been forced in recent years to import increasing amounts of expensive liquid natural gas as domestic production diminishes and local consumption increases. The fighting prompted Israel, a major gas supplier to Egypt, cut off natural gas deliveries for about two weeks, although it was due to resume deliveries on Wednesday. The fighting may also slow the growth of tourism, which earned Egypt $8.7 billion in the second half of 2024, and further cut into Suez Canal revenue, which has been the victim of attacks on shipping by Yemen's Houthis trying to shut off Israel-bound cargo. (Reporting by Tala Ramadan and Nafisa Eltahir; Writing by Patrick Werr; Editing by Alison Williams and Alex Richardson)
Zawya
25-06-2025
- Business
- Zawya
World Bank approves $930mln project to extend and modernise railways in Iraq
RELATED TOPICS LOANS IRAQ TRANSPORT DUBAI: The World Bank approved a $930 million project to help improve Iraq's railway performance, boost domestic trade, create jobs, and diversify the economy, the organisation said on Wednesday. (Reporting by Jana Choukeir; Writing by Tala Ramadan; Editing by Alison Williams)
