Economy

Iraq, oil companies agree to restart investment, boost output

Iraq, oil companies agree to restart investment, boost output

Iraq has reached agreement with BP, Shell and Lukoil to restart stalled investment in oil fields the firms are developing,…
Egypt’s Orascom Telecom Q1 net profit tumbles to LE48.733 mln

Egypt’s Orascom Telecom Q1 net profit tumbles to LE48.733 mln

Egypt's Orascom Telecom Media and Technology Holding said on Thursday its first quarter net profit had fallen to 48.73 million…
Egypt’s EFG-Hermes losses deepen to 67.55 mln Egyptian pounds in second quarter

Egypt’s EFG-Hermes losses deepen to 67.55 mln Egyptian pounds in second quarter

Egypt's EFG-Hermes, the country's largest investment bank, said on Thursday it made a net loss of LE67.55 million ($7.61 million)…
Egypt’s cabinet approves draft tax settlement bill amid IMF talks

Egypt’s cabinet approves draft tax settlement bill amid IMF talks

Egypt's government approved a draft bill that would settle tax disputes, the cabinet said in a statement on Wednesday, a…
Egypt inflation rate at 14.8% in July: CAPMAS

Egypt inflation rate at 14.8% in July: CAPMAS

The government statistics agency has announced an official inflation rate of 14.8 percent in July, showing now increase on the…
Egypt sets jail as punishment for black market forex trading

Egypt sets jail as punishment for black market forex trading

Egypt's parliament on Tuesday set prison sentences of between three and 10 years in jail and fines of up to…
Turkish Airlines to resume flights to Sharm el-Sheikh in September

Turkish Airlines to resume flights to Sharm el-Sheikh in September

Turkish Airlines announced in a statement on Tuesday it plans to resume its flights to Sharm el-Sheikh starting September 10,…
Egypt announces sharp rises in electricity prices as it aims to phase out subsidies

Egypt announces sharp rises in electricity prices as it aims to phase out subsidies

Egypt will increase electricity prices by up to 40 percent for households as part of its plan to repair its…
Yields mixed at Egypt T-bill auction

Yields mixed at Egypt T-bill auction

August 7 Yields on Egypt's three-month treasury bills fell and yields on nine-month bills rose at Sunday's auction, data from…
Egypt’s solar power upset clouds outlook for foreign investors

Egypt’s solar power upset clouds outlook for foreign investors

When Egypt announced plans to develop renewable power in 2014, investors piled in, drawn by year-round sunshine and chronic electricity…
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