Economy
Iraq, oil companies agree to restart investment, boost output
August 11, 2016
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
August 11, 2016
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
August 11, 2016
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
August 11, 2016
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
August 10, 2016
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
August 10, 2016
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
August 9, 2016
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
August 9, 2016
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
August 7, 2016
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
August 6, 2016
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…