Economy
Egypt’s central bank postpones interest rate decision to Dec. 24
December 18, 2015
Egypt’s central bank postpones interest rate decision to Dec. 24
The announcement came as a shock to the markets, which had been watching to see if Egypt would follow the…
Egypt’s central bank to hold rate steady at FX auction: traders
December 17, 2015
Egypt’s central bank to hold rate steady at FX auction: traders
Egypt's central bank will hold the exchange rate steady at LE7.7301 to the dollar on Thursday at its first foreign…
Fed raises interest rates, citing ongoing US recovery
December 17, 2015
Fed raises interest rates, citing ongoing US recovery
The Federal Reserve hiked interest rates for the first time in nearly a decade on Wednesday, signalling faith that the…
UPDATE: Egypt’s Orascom Telecom makes $128 mn bid for CI Capital
December 17, 2015
UPDATE: Egypt’s Orascom Telecom makes $128 mn bid for CI Capital
Commercial International Bank (CIB), Egypt's largest listed company, said on Thursday it had received a LE1 billion ($127.7 million) offer…
Govt blames slight wheat cultivations shrink on floods
December 17, 2015
Govt blames slight wheat cultivations shrink on floods
A slight decline in Egypt’s total wheat cultivations to 2,754 million feddans is the result of floods and heavy rainfall…
Egypt-Saudi Arabia trade exchange hits $3.7 bn in 8 months
December 16, 2015
Egypt-Saudi Arabia trade exchange hits $3.7 bn in 8 months
The volume of trade exchange between Egypt and Saudi Arabia hit US$3.67 billion in 8 months in 2015.Egypt's imports from…
Investments of private insurance funds LE43 bn in 2014: FSA
December 16, 2015
Investments of private insurance funds LE43 bn in 2014: FSA
Investments of private insurance funds were raised from LE40 billion in 2013 to LE43 billion in 2014, according to Financial…
Egypt’s market gains LE2.5 bn on Wednesday, EGX30 rises 1.1%
December 16, 2015
Egypt’s market gains LE2.5 bn on Wednesday, EGX30 rises 1.1%
Egypt's stock market closed higher for a third session in a row, as the benchmark EGX30 index on Wednesday rose…
Cairo among the world’s best cities to launch startups: Forbes
December 16, 2015
Cairo among the world’s best cities to launch startups: Forbes
Despite the deteriorating economic situation in the country, Egyptian entrepreneurs seem to be gearing up to change current circumstances. According to…
Egypt to hold 4G communication technology tender by end of 2016
December 16, 2015
Egypt to hold 4G communication technology tender by end of 2016
Egypt will begin the tender process for high-speed 4G frequencies for the country’s four communication providers by the end of 2016,…