Economy

Greek cement maker Titan Q2 profit up 26 percent on US operations

Photo credit: Shutterstock
30 Jul 2015
Greece's second-largest cement maker Titan posted a 26 percent rise in second-quarter net profit on Thursday, helped by a strong performance in the United States. The company said net profit climbed to 17.6 million euros ($19.2 million...
Yes

Egypt's market gains LE3.3 billion on Thursday, EGX30 rises 1.1%

30 Jul 2015
Egypt's market closed in the green zone for the third straight session, as the benchmark EGX30 index on Thursday rose 1.06 percent, recording 8,191.53 points and a turnover of LE574 million, the Egyptian Exchange data showed.  ...
Yes

Facebook social network profit dips

Facebook logo
 
30 Jul 2015
Facebook reported a dip in its quarterly profit Wednesday but said revenues surged on mobile advertising gains, as its user base neared 1.5 billion. The world's biggest social network saw higher expenses cut into its bottom line,...
Yes

Central bank: Egypt money supply up 16.4% in June

30 Jul 2015
 Egypt's M2 money supply was up 16.4 percent at the end of June from a year earlier, the central bank said on Thursday. M2 money supply stood at 1.77 trillion Egyptian pounds at the end of June 2015, compared with 1.52 trillion at...
Yes

Egypt’s car sales decline 5.4% in first half of 2015

Cars
30 Jul 2015
Egypt’s car sales declined 5.4 percent to 65,600 cars in the first half of 2015, in comparison to 79,885 cars in the first half of 2014, according to a report by the Automotive Marketing Information Council (AMIC).  On the other...
Yes

Egyptian pound steady at official auction and in exchange bureaus





Reuters/Reuters - An employee counts money at a bank in Cairo September 4, 2014. REUTERS/Asmaa Waguih






 


 
30 Jul 2015
Egypt's central bank kept the Egyptian pound steady at 7.73 per dollar at a foreign exchange auction on Thursday after a depreciation earlier this month. The pound remained virtually unchanged at currency exchange bureaus. The central...
Yes

Middle East funds turn negative as oil drops again

Middle East funds
30 Jul 2015
Middle East fund managers have on balance turned negative towards the region and especially its biggest equity market, Saudi Arabia, after oil prices gave up most of the gains made in the last six months, a monthly Reuters survey shows....
Yes

Gold demand weakest since 2009 in Q2 as Chinese turned to stocks

A shopkeeper sits in his shop in Dubai's gold souk, in this 11 April 2006 file photo.
29 Jul 2015
Demand for gold slid to its lowest in six years in the second quarter of this year as buyers from top consumer China poured funds into its now troubled equities market, an industry report showed.Retail investment from China fell by a...
Yes

US official: New Suez Canal to reduce oil prices

Special Envoy and Coordinator for International Energy Affairs leading the Bureau of Energy Resources (ENR) at the US Department of State Amos J. Hochstein
29 Jul 2015
Special Envoy and Coordinator for International Energy Affairs leading the Bureau of Energy Resources (ENR) at the US Department of State Amos J. Hochstein underlined the importance of the New Suez Canal, noting that it would contribute to...
Yes

Egypt's market gains LE6.1 billion on Wednesday, EGX30 jumps 2%

cairo stock 
29 Jul 2015
Egypt's market expanded its gains on Wednesday, as the benchmark EGX30 index jumped by 1.96 percent, recording 8,105.69 points and a turnover of LE523 million, the Egyptian Exchange data showed.   Meanwhile, the small and mid-cap...
Yes