Business News

Egypt's market loses $4 billion in week, EGX30 index drops 1.8%

cairo stock 
24 Apr 2015
Egypt's stock market shares plunged by 4 billion this week, and all indexes were down, Egyptian Exchange data showed. The EGX30 index, the EGX70 index and the EGX70 index all were down this week by 1.75 percent, 0.7 percent and 1.9...
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Oil prices edge down from 2015-highs, but set for weekly gain

© Getty/AFP/File | US benchmark West Texas Intermediate for January delivery sank $1.16 in afternoon trade to $54.77
 
 
 
24 Apr 2015
 Oil prices held steady on Friday near 2015-highs reached the session before, remaining on track for weekly gains after renewed air strikes in Yemen stoked concerns on the security of Middle East oil shipments. Crude prices on both...
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Chairman:Egyptian state company to present major solar power project

An employee is seen on the production line of the solar energy department at the Arab International Optronics (AIO) factory on the outskirts of Cairo, November 17, 2011. Picture taken November 17, 2011. REUTERS/Asmaa Waguih
 


 
 

 
23 Apr 2015
A megaproject to generate 100 megawatts of energy using solar power in Upper Egypt's Aswan city will be put forth by a state company, its chairman said on Thursday. The project will involve companies from Egypt and five other...
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Egyptian pound steady at forex auction, eases on black market

dollar vs Egyptian pound
23 Apr 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 weakened on the black market. The central bank has kept the official exchange rate steady for more than two...
Yes

Egypt's market gains LE3.5 billion on Thursday, EGX30 rises 1.18%

cairo stock 
23 Apr 2015
Egypt's market closed in the green zone on Thursday's session, with the benchmark index EGX30 increasing by 1.18 percent to record 8,731 points at a turnover of 474 million, according to the data from the Egyptian Exchange. The...
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Egyptian pound steady at forex auction, eases on black market





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






 


 
22 Apr 2015
Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Wednesday while the currency weakened on the black market. The central bank has kept the official exchange rate steady for more than two...
Yes

Oil extends losses as Saudis halt Yemen strikes

A ship passes a petro-industrial complex in Kawasaki near Tokyo December 18, 2014.
 
22 Apr 2015
Global oil prices fell on Wednesday after a Saudi-led coalition declared an end to four weeks of air strikes in Yemen, and ahead of a key US supply report. Brent North Sea crude for delivery in June delivery dropped 44 cents to $61.64 a...
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Saudi Arabia's stock market rises after ending Yemen air strikes

© AFP/File | Emirati men sit under a stock market screen at the Dubai Financial Market (DFM) in Dubai, on January 30, 2011
 
 
 
22 Apr 2015
Saudi Arabia's stock market rose in early trade on Wednesday after the Riyadh government said it had ended a campaign of air strikes against Yemen's Houthi rebels. Egypt's market remained soft. Gulf markets lost a few percent...
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Dubai's Arabtec says in talks with banks to fund Egypt project

An Arabtec logo is seen on buildings under construction in the Marina area of Dubai in this picture taken November 28, 2009. REUTERS/Steve Crisp
 


 
 

 
22 Apr 2015
Dubai builder Arabtec said on Wednesday it was in talks with several local and international banks on financing the first phase of its project to build one million housing units in Egypt. Arabtec, which has yet to sign a final deal on the...
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Egypt's market loses LE1.31 billion on Tuesday, EGX30 down 0.24%

21 Apr 2015
Egypt's market traded sideways in on Tuesday for the third  session in a row, with the benchmark index EGX30 decreasing by 0.24 percent to record 8,575.27 points and a weak turnover of LE383 million, according to the data from the...
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