REUTERS Egyptian dairy company Arabian Food Industries Co (Domty) is planning to invest 240 million Egyptian pounds ($27 million) in 2016-17 to fund expansion and increase production capacity, Vice-Chairman Mohamed Damaty told Reuters on Monday. Domty, which raised a combined 1.13 billion pounds in private and public share offerings in March, has two factories in the 6th of October …

  Riyadh / TNS The Colors of Saudi Arabia Forum, the largest event in the Kingdom for photography, short films in tourism, culture and heritage to encourage professional and amateur photographers, will witness in its fifth edition this year, greater diversity. Started in 2012, the forum is annually organized under the patronage of the Saudi Commission for Tourism and National Heritage …

Given his fearsome rhetoric and blunt speaking it is not surprising that many fear that the new populist president of the Philippines could have a destabilizing impact on the region. Some worry his “Dirty Harry” persona could tip the republic into conflict with China and, through the Philippines’ alliance with the United States, drag the region into a major conflagration. …

  Adam Minter The skylines of some of China’s biggest cities sprout from land that was farmed less than a generation ago. For the government, they’re a soaring testament to the country’s transformation into an urbanized superpower. And despite China’s economic slump, there are plenty of bureaucrats who’d like to see the process continue. According to a report last week, …

  Mark Gilbert The Bundesbank dropped something of a bombshell this week. The eurozone’s most influential central bank and the guardian of all things sacred to monetarists, suggested that sovereign bonds should contain clauses that would automatically delay repayment to investors for countries in financial difficulty. Not paying on schedule may not be the same as default, but it won’t …

  Tokyo / AFP SoftBank plunged more than 10 percent on Tuesday as investors gave the thumbs down to the Japanese mobile giant’s whopping $32 billion purchase of British iPhone chip designer ARM Holdings. The sharp drop bucked an upward trend in the broader market after a public holiday, with the benchmark index rising for the sixth straight session. SoftBank …

  Bloomberg S&P 500 Index futures slipped on Tuesday following a mix of earnings reports, as investors weighed the prospects for further gains after equities closed Monday at fresh records. Netflix tumbled 13 percent on weaker-than-anticipated subscriber growth, and Philip Morris International Inc. dropped 2.2 percent after its earnings missed forecasts as the strong dollar hurt sales outside of the …

  DUBAI / Reuters Gulf stock markets mostly moved little in early trade on Tuesday, restrained by weak oil prices and mixed corporate earnings, while Saudi Arabian Mining Co (Ma’aden) fell sharply after announcing a plunge in second-quarter profit. The Saudi stock index dropped 0.3 percent in the first half hour as Ma’aden slid 4.4 percent. It posted a 51 …

  Bloomberg Bank of America (BofA) Corp. posted higher profit in each of its four main businesses as bond-trading revenue increased more than analysts estimated and expenses fell. The second-biggest US bank by assets led financial stocks higher this week after reporting earnings per share of 36 cents, beating the 33-cent average estimate of analysts. Net income dropped 21 percent …

  Bloomberg State Bank of India and Indian Overseas Bank are among 13 state-owned Indian lenders that will receive a total of 229.2 billion rupees ($3.4 billion) in capital as the government seeks to contain risks in the banking industry while sustaining credit growth. The State Bank of India will get 75.8 billion rupees, while Indian Overseas Bank will receive …