Economy
Egypt’s EFG Hermes reports rise in Q3 net profit
November 11, 2015
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%
November 11, 2015
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
November 10, 2015
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…
From Scunthorpe to Tangshan, workers steeled for decline
November 10, 2015
From Scunthorpe to Tangshan, workers steeled for decline
In the gritty northeast English town of Scunthorpe, 25-year-old steel worker Matt Cooke fears for his job, and the future…
Central Bank promises to provide $4 bn to industrial sector in 2 weeks
November 10, 2015
Central Bank promises to provide $4 bn to industrial sector in 2 weeks
Mohamed al-Suwaidi, head of the Federation of Industries, said Tarek Amer, the new central bank governor, has promised that banks…
EasyJet says too early to know cost of UK’s Egypt flight suspension
November 10, 2015
EasyJet says too early to know cost of UK’s Egypt flight suspension
Low cost airline easyJet said on Tuesday that it was too early to say what the cost of a British…
Egyptian pound steady at dollar sale, lower at parallel market
November 10, 2015
Egyptian pound steady at dollar sale, lower at parallel market
The Egyptian pound was stable at a dollar sale on Tuesday, with the central bank selling US$37.8 million at a…
UPDATE: Two more Egyptian banks raise interest rates on savings certificates
November 10, 2015
UPDATE: Two more Egyptian banks raise interest rates on savings certificates
Egypt's third largest state bank, Banque Du Caire, and the private Societe Arabe Internationale bank on Tuesday raised interest rates…
Egypt core inflation rises to 6.26% y/y in October: central bank
November 10, 2015
Egypt core inflation rises to 6.26% y/y in October: central bank
Egypt's annual core inflation rate rose to 6.26 percent in October from 5.55 percent in September, the central bank said…
Asian shares slide to one-month low on Fed, global growth concerns
November 10, 2015
Asian shares slide to one-month low on Fed, global growth concerns
Asian shares slipped to one-month lows on Tuesday as the specter of higher borrowing costs in the United States and…