Economy
Hijacked plane incident to significantly harm tourism sector: official
March 30, 2016
Hijacked plane incident to significantly harm tourism sector: official
The hijacking of an Egyptian plane from Borg al-Arab airport to Cyprus on Tuesday has set the tourism sector back…
Novartis investigating US$85 million bribery allegations in Turkey
March 30, 2016
Novartis investigating US$85 million bribery allegations in Turkey
An anonymous whistleblower has accused Swiss drugmaker Novartis (NOVN.S) of paying bribes in Turkey through a consulting firm to secure…
Trading in Telecom Egypt shares suspended: sources
March 30, 2016
Trading in Telecom Egypt shares suspended: sources
Egypt's stock exchange suspended trading of shares of Telecom Egypt, the state-owned landline monopoly, on Wednesday after the government replaced…
Stock market goes up despite hijacking of Egyptian plane
March 29, 2016
Stock market goes up despite hijacking of Egyptian plane
Egyptian stock market indices collectively increased on Tuesday despite the hijacking of an EgyptAir plane.Market capitalization gained nearly LE4 billion,…
MIDEAST STOCKS: Egypt shares rise, Saudi edges down on petrochemicals
March 29, 2016
MIDEAST STOCKS: Egypt shares rise, Saudi edges down on petrochemicals
Egypt's stock market rose broadly in early trade on Tuesday while Saudi Arabia was pulled down by petrochemical shares after…
Govt plans infrastructure investment fund: minister
March 28, 2016
Govt plans infrastructure investment fund: minister
The government is in the process of establishing a specialized fund for infrastructure investments, Planning Minister Ashraf al-Araby said on…
Egyptian pound weakens to record against the dollar on black market
March 28, 2016
Egyptian pound weakens to record against the dollar on black market
The Egyptian pound fell to an unprecedented low on the black market on Monday, five traders said, as hard currency…
CBE governor responds to Sawiris ‘stalling’ claims in CI Capital row
March 28, 2016
CBE governor responds to Sawiris ‘stalling’ claims in CI Capital row
The governor of the Central Bank of Egypt (CBE) has responded to claims from businessman Naguib Sawiris that the CBE…
Qatar’s Al Jazeera network laying off 500 employees
March 28, 2016
Qatar’s Al Jazeera network laying off 500 employees
Qatar's Al Jazeera broadcasting network is laying off about 500 employees or more than 10 percent of its staff, it…
Egypt’s Banque Misr in talks for 300 mln euro syndicated loan
March 28, 2016
Egypt’s Banque Misr in talks for 300 mln euro syndicated loan
Egypt's second-largest state bank, Banque Misr, is in talks with a foreign financial institution for a 300 million euro (US$334.92…