Economy

Egypt builds new homes to replace crumbling slums

Egypt builds new homes to replace crumbling slums

Bayada Mohamed has left her old slum on a crumbling cliffside and moved into a new flat in a Cairo…
US$60 oil is coming soon: Saudi Arabia

US$60 oil is coming soon: Saudi Arabia

Crude oil could rise to US$60 a barrel by the end of the year, even without any help from OPEC.That…
Egypt to end local wheat buying on Wednesday: Supply Ministry

Egypt to end local wheat buying on Wednesday: Supply Ministry

Egypt will end local wheat buying on Wednesday, earlier than usual, due to exceeding its target of four million tonnes,…
Russia unveils new passenger plane it says will rival Boeing, Airbus

Russia unveils new passenger plane it says will rival Boeing, Airbus

Russia on Wednesday presented a new medium-range passenger plane which state media said was superior to its Western-made counterparts in…
Egypt’s CIB and Beltone drop plans for CI Capital sale

Egypt’s CIB and Beltone drop plans for CI Capital sale

Egypt's Commercial International Bank (CIB) has dropped plans to sell its investment bank CI Capital to Beltone Financial after failing…
Egypt’s annual urban consumer price inflation jumps to 12.3 pct in May

Egypt’s annual urban consumer price inflation jumps to 12.3 pct in May

Egypt's annual urban consumer price inflation jumped to 12.3 percent in May from 10.3 percent in April, the official statistics…
‘Brump’ or ‘Trexit’? Markets may conflate year’s biggest risks

‘Brump’ or ‘Trexit’? Markets may conflate year’s biggest risks

Even though market myopia is often used to explain why investors appear to be ignoring November's US presidential election while…
Moody’s bets on foreign investment in Egypt to ease dollar shortage

Moody’s bets on foreign investment in Egypt to ease dollar shortage

Despite warning about the pressures on foreign currency liquidity resulting from the dollar shortage, Moody’s has maintained its stable outlook…
Pharaohs’ shadow an omen in Egypt gold search

Pharaohs’ shadow an omen in Egypt gold search

Careering around Egypt's rocky Eastern Desert, Alexander Nubia CEO Mark Campbell peers from his jeep and sees hills so rich…
Increase in drug prices was necessary: syndicate chairman

Increase in drug prices was necessary: syndicate chairman

The chairman of the Pharmacists Syndicate, Mohey Ebeid, said on Sunday that the government's policy of increasing the prices of…
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