Business News

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...
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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...
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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...
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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...
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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...
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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...
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Egypt's market gains LE650 million on Wednesday, while EGX30 down 0.10%

cairo stock 
27 May 2015
Egypt's market had a mixed session on Wednesday, as the benchmark EGX30 index inched down 0.10 percent, while, the small and mid-cap index EGX70 and the broader EGX100 index rose 0.15 percent and 0.82 percent, respectively, the...
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Biscuit maker Bisco Misr approves delisting from Egyptian exchange

27 May 2015
The board of Egyptian biscuit maker Bisco Misr has approved a voluntary delisting from the Egyptian stock exchange as requested by controlling shareholder U.S. company Kellogg, the company said on Wednesday. Shareholders in Bisco Misr in...
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Egyptian Exchange to host second conference for stock investment

Mohamed Omran, Chairman of the Egyptian Stock Exchange
26 May 2015
The Egyptian Exchange is preparing to organize its second annual conference for stock market investments, labelling the event an opportunity for investors to obtain financing and create jobs.   The statement by the Egyptian stock...
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UPDATE: Egypt picks banks for first international bond issue in 5 years

26 May 2015
Egypt has chosen banks to handle its return to the international bond market after a gap of five years, underlining a return of economic and political stability in the country after its Arab Spring uprising of 2011. Investor meetings to...
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