Reuters Egypt’s economy is likely to grow 3.5 percent in the 2016/17 fiscal year, missing the government’s target of around 5 percent and falling below last year’s growth rate, a Reuters poll showed. The poll, which surveyed 17 analysts, found growth would pick up only slightly to reach 3.7 percent the following fiscal year. Egypt has been struggling to ...

  Bloomberg Saudi Electricity Co., the dominant electricity provider in the Arab world’s biggest economy, reported its best quarterly profit in more than a decade after the state-controlled utility raised prices following subsidy cuts. Third-quarter net income surged to 4.4 billion riyals ($1.2 billion) from 2.92 billion riyals in the year-earlier period, the company said in a statement to the ...

  Bloomberg Saudi Arabia is repaying debts to contractors after long delays that squeezed company finances and hurt investor sentiment. Finance Minister Ibrahim Al-Assaf said in a televised interview on MBC Wednesday that payments have been “regularized and will rise in the coming period.” While he didn’t offer details, three people familiar with the matter said the government has started ...