Egypt Independent: Economy-Main news en Egypt's market losses LE4 billion in a week, EGX30 drops 1.6% <img src="" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><p>Egypt&#39;s market main index EGX30&nbsp; incurred losses 1.6 percent in a week &nbsp;recording &nbsp;&nbsp;9,334.01&nbsp;points, the Egyptian Exchange data showed.<o:p></o:p><u1:p></u1:p></p><p>Meanwhile, the small and mid-cap index EGX70 went down 2.8 percent &nbsp;to 558 points, and the broader index EGX100 declined 2.2 percent to 1114.42 points..<o:p></o:p></p><p>EGX market capital lost LE4&nbsp;billion ($521.6 million ) to hit LE511.56 billion compared to LE515.54 billion last week.<o:p></o:p></p> Fri, 27 Feb 2015 09:12:00 +0000 Egypt Independent 2445146 at sites/default/files/photo/2015/02/20/499612/cairo_stock.jpg CIB chairman optimistic of Egypt’s economic future <img src="" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><div>The head of Egypt&rsquo;s largest private sector bank has voiced optimism of the future of the country&rsquo;s economy and investment sector, lauding what he described as the government&rsquo;s efforts to address chronic economic issues.</div><div>&nbsp;</div><div>The Commercial International Bank (CIB)&rsquo;s chief, &nbsp;Hesham Ezz al-Arab, said in an <u><a href="">interview</a></u> published by World Folio business website that the Egyptian government was &ldquo;proactively addressing chronic economic and social issues, such as infrastructure, budget deficit&rdquo;. He added that those efforts are helping shape a &ldquo;more conducive environment for investment&rdquo;.</div><div>&nbsp;</div><div>He said the upcoming<a href=""><u> Egypt Economic Development Conference</u></a> would represent a big step for the economy as it would explain to investors where the country is heading in terms of its economic plan.</div><div>&nbsp;</div> Thu, 26 Feb 2015 14:47:00 +0000 Egypt Independent 2445114 at sites/default/files/photo/2014/02/12/94/cib.jpg Egypt's market gains LE66 million on Thursday, while EGX30 drops 1.4 % <img src="" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><p>Egypt&#39;s market main index EGX30 Thursday decreased 1.43 percent to record 9,334.01points and a total turnover of LE532million, &nbsp;the Egyptian Exchange data showed&nbsp;.</p><p>Meanwhile, the EGX70 index and the EGX100 declined by 0.86 percent and 0.86 percent respectively.</p><p>Local and Foreign institutions were net buyers recording net flows of LE66.3 million and LE10.3million respectively, while Arab retail investors were net sellers recording net flows of LE17.1 million.</p><p>EGX market capital gained LE66 million ( US$843 billion) to hit LE511,56 billion compared to LE 510.90 billion on Wednesday&#39;s session.</p> Thu, 26 Feb 2015 14:00:00 +0000 Egypt Independent 2445116 at sites/default/files/photo/2015/02/20/499612/cairo_stock.jpg Cement prices stable in March <img src="" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><div><div>Cement companies and factories have announced that their maximum prices will remain stable through March for the third month in a row, with the exception of the Egyptian-Spanish company, whose prices have been reduced by LE20, currently selling at LE600 per ton.&nbsp;</div><div>&nbsp;</div><div>The Suez Cement Group (Portland Tora, Helwan and Suez) is selling for LE850 per ton, National Cement - LE750 in Greater Cairo and LE770 in other governorates, Assiut Cement - LE859, Amreyah Cement - LE831, Alexandria Cement and Beni Suef Cement - LE720, Lafarge - LE871 in Cairo and LE893 in the rest of the governorates, North Sinai Cement - LE800, South Sinai Cement - LE815, Misr Beni Suef Cement - LE760, Misr Qena Cement - LE750 in Cairo and LE790 in the rest of the governorates, South Valley Cement - LE790, MEDCOM Aswan Cement - LE850 in Cairo and LE800 in the rest of the governorates, Sinai White Portland Cement - LE780, Arabian Cement - LE897, El-Sewedy Cement - LE879 in Cairo and LE899 in the rest of the governorates, Nile Valley Cement - LE877, El-Arish Cement - LE650, Construction Materials - LE860, El-Nahda Cement - LE850 and ASEC Minya - LE905.</div><div>&nbsp;</div><div>Supply Minister Khaled Hanafy said the current prices are valid until 15 March, stressing that while retail agents may sell cement for less, they must announce their prices to the consumers.</div><div>&nbsp;</div><div>&nbsp;</div><div><em>Edited translation from Al-Masry Al-Youm</em></div><div>&nbsp;</div></div><p>&nbsp;</p> Thu, 26 Feb 2015 13:24:00 +0000 Al-Masry Al-Youm 2445096 at sites/default/files/photo/2013/08/13/465291/shutterstock_63102985.jpg