Economy
EGPC denies report it is negotiating to delay dollar repayments
December 8, 2015
EGPC denies report it is negotiating to delay dollar repayments
Egyptian General Petroleum Corp (EGPC) denied on Tuesday that it was negotiating with banks to delay dollar payments owed to…
Egypt’s market loses LE6.4 bn on Tuesday, EGX30 drops 2.5%
December 8, 2015
Egypt’s market loses LE6.4 bn on Tuesday, EGX30 drops 2.5%
Egypt's market suffered losses during Tuesday's session, with the benchmark index EGX30 dropping by 2.51 percent, reaching 6,608 points and…
Households, inventories boost euro zone GDP despite negative trade
December 8, 2015
Households, inventories boost euro zone GDP despite negative trade
Rising inventories and higher household spending were the main driving forces behind euro zone economic growth in the third quarter,…
Egyptian pound steady at forex auction, dips on black market
December 8, 2015
Egyptian pound steady at forex auction, dips on black market
The Egyptian pound held steady at an official foreign currency auction on Tuesday and weakened slightly on the black marketEgypt,…
Qalaa Holdings reports $16 mn Q3 net loss
December 8, 2015
Qalaa Holdings reports $16 mn Q3 net loss
Qalaa Holdings, one of Egypt's largest investment firms, reported a loss of LE125.54 million ($16.03 million) in the third quarter,…
EGPC negotiating to delay dollar payments owed to banks
December 8, 2015
EGPC negotiating to delay dollar payments owed to banks
Egyptian General Petroleum Corp (EGPC) did not receive its full dollar needs from the central bank in November and is…
Egypt’s market loses LE2.8 bn on Monday, EGX30 declines 0.9%
December 7, 2015
Egypt’s market loses LE2.8 bn on Monday, EGX30 declines 0.9%
Egypt's market closed in the red zone on Monday's session,as the benchmark index EGX30 declined 0.87 percent, reaching 6,778 points…
Saudi-Iran rivalry sets scene for OPEC showdown over output
December 7, 2015
Saudi-Iran rivalry sets scene for OPEC showdown over output
It used to be said of OPEC that it was like a teabag – it only worked in hot water.
Egypt says it will add up to 3 GW of power, helping to reduce rationing
December 7, 2015
Egypt says it will add up to 3 GW of power, helping to reduce rationing
Egypt expects to add 2,500-3,000 megawatts of electricity generation capacity in the coming year, going some way to ending power…
Egyptian business activity falls to 2-year low in November
December 7, 2015
Egyptian business activity falls to 2-year low in November
Business activity in Egypt dropped to its lowest in more than two years in November, falling the fastest since September…