Economy

Minister: Clearing, settlement to be conducted with stock market investors

Egypt's Investment Minister Ashraf Salman (Photo: Reuters)
29 May 2015
Investment Minister Ashraf Salman has announced that the ministery is conducting a clearing and settlement with stock market investors with respect to the payment of taxes, since the capital gains tax law was issued and then subsequently...
Yes

Switzerland's Panalpina acquires its long-time Egyptian agent Afifi

29 May 2015
Switzerland-based supply chain solutions provider Panalpina will acquire its Egyptian agent Afifi, a highly respected family-owned company specializing in freight forwarding, customs clearance and logistics.   “Egypt has a lot...
Yes

Report: UAE investment in Egypt US$5 bn in first half of 2014

29 May 2015
The Egyptian Commercial Representative Office in the UAE announced that the size of UAE investments in Egypt amounted to US$5 billion during the first half of 2014, compared to the same period in the previous year, representing 10 percent...
Yes

Egypt's market loses $3.4 bn in a week, EGX30 down 0.85%

29 May 2015
Egypt's market main index EGX30 declined 0.85 percent in this week, Egyptian Exchange data showed. Meanwhile, the EGX70 index and the EGX70 index down 0.51 percent and 0.26 percent respectively. EGX market capital lost LE3.39...
Yes

Egypt's GASC buys 240,000 tonnes Russian, Romanian wheat

28 May 2015
Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Thursday it had bought 240,000 tonnes of Russian and Romanian wheat in a tender for July 1-10 shipment. Egypt, the world's biggest importer of...
Yes

Fuel smart cards available across the country Friday

A banner reads "Empty Tank" as tens of cars queue at petrol station, Cairo, January 16,2012 amid fears of an oil shortage.
28 May 2015
Fuel smart cards will be available for car owners across the republic starting Friday, the Finance Ministry said Thursday, noting that the cards have already been provided to 15 governorates, with the rest of provinces, including Cairo,...
Yes

Egypt's market loses LE2.5 billion on Thursday, EGX30 down 0.6%

28 May 2015
Egypt's market closed on Thursday in the red zone for the third session in a row, as the benchmark EGX30 index inched down 0.61 percent, recording 8,912.05 points and a turnover of LE709  million, the Egyptian Exchange data showed...
Yes

Egyptian pound steady at official auction, on black market





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






 


 
28 May 2015
 Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Thursday, while the currency was largely stable on the black market. The central bank has held the official exchange rate steady...
Yes

EGX changes rules to benchmark index to encourage listings

28 May 2015
 Egypt's stock exchange said on Thursday it would reduce the free float required for new companies to list on its benchmark EGX30, as part of structural changes to the index with the aim to boost trading in the Arab world's...
Yes

Internet price dispute behind removal of TE director

28 May 2015
A disagreement over prices to be offered to other service providers for the use of Telecom Egypt’s internet infrastructure was behind TE director Mohamed Al-Nawawy's dismissal, documents have revealed.   The...
Yes