Economy

Egypt govt to issue 700 million Euro 1-year treasury bill: central bank

Egypt govt to issue 700 million Euro 1-year treasury bill: central bank

Egypt's central bank is issuing a 700 million Euro 1-year Treasury bill, it said in a statement on Thursday. The auction…
Egypt’s Amer Group third-quarter net profit drops 56.4%

Egypt’s Amer Group third-quarter net profit drops 56.4%

Egyptian real estate company Amer Group's third-quarter net profit fell 56.4 percent, it said in a bourse statement on Thursday. Amer…
UPDATE: Egypt’s c. bank keeps pound at 7.7301 per dollar at official FX auction

UPDATE: Egypt’s c. bank keeps pound at 7.7301 per dollar at official FX auction

Egypt's central bank will hold the pound steady at LE7.7301 to the dollar at its official foreign currency auction on…
Oil prices remain near two-month low, outlook stays weak

Oil prices remain near two-month low, outlook stays weak

Oil prices struggled to break away from over two-month lows on Thursday, and the outlook remains bleak as traders ditch…
Egypt cbank names caretaker head as currency crisis rages

Egypt cbank names caretaker head as currency crisis rages

Egypt's central bank chief Hisham Ramez said on Wednesday he had appointed Gamal Negm as caretaker governor, Al Youm Al…
Egypt’s market loses LE1.3 bn on Wednesday, EGX30 down 0.3%

Egypt’s market loses LE1.3 bn on Wednesday, EGX30 down 0.3%

Egypt's stock market closed in the red zone on Wednesday, for the fourth session in a row, as the benchmark…
EFG joins consortium to acquire Egypt’s e-payment service

EFG joins consortium to acquire Egypt’s e-payment service

EFG Hermes, one of the Middle East’s leading investment banks, has joined a consortium to acquire a majority stake in…
Egypt’s EFG Hermes reports rise in Q3 net profit

Egypt’s EFG Hermes reports rise in Q3 net profit

Egypt's EFG Hermes, one of the Middle East's largest investment banks, on Wednesday reported a rise in third-quarter net profit…
Egypt’s Commercial International Bank Q3 net profit up 37%

Egypt’s Commercial International Bank Q3 net profit up 37%

Egypt's Commercial International Bank (CIB) posted third quarter net profit of LE1.33 billion (US$165.63 million), a 37 percent rise from…
Kuwait’s Al Ahli completes purchase of Piraeus Bank Egypt

Kuwait’s Al Ahli completes purchase of Piraeus Bank Egypt

Kuwait's Al Ahli Bank has closed a deal to acquire a 98.5 percent stake in Piraeus Bank's Egypt unit, it…
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