Economy

Alexandria 2 oil fields to make Egypt regional energy center: minister

Alexandria 2 oil fields to make Egypt regional energy center: minister

Egypt's two newly discovered oil fields, Zohr and North Alexandria, which will start production in 2017, will help make Egypt…
Japan relapses into recession in July-September, a blow to ‘Abenomics’

Japan relapses into recession in July-September, a blow to ‘Abenomics’

Japan slipped into its fourth technical recession in five years between July and September - spotlighting how the government's "Abenomics"…
Dubai’s Arabtec plans to build 13,000 homes in Egypt

Dubai’s Arabtec plans to build 13,000 homes in Egypt

Dubai builder Arabtec has submitted a proposal to Egypt's government to construct 13,000 homes in the North African country, the…
Telecom Egypt posts 360% jump in Q3 net profit

Telecom Egypt posts 360% jump in Q3 net profit

Telecom Egypt, the country's state-owned landline monopoly, posted a 360 percent jump in its third quarter net profit, the company…
Asian shares, currencies slide after Paris attacks, data

Asian shares, currencies slide after Paris attacks, data

Asian stocks fell to six-week lows on Monday and emerging market currencies wilted as investors sought the safety of the…
Iraq to supply crude oil and natural gas to Egypt and Jordan

Iraq to supply crude oil and natural gas to Egypt and Jordan

Egypt signed a memorandum of understanding on Sunday to receive crude oil and natural gas from Iraq, Egypt's minister of…
Egypt’s market loses LE7.4 bn on Sunday, EGX30 slips 4.2%

Egypt’s market loses LE7.4 bn on Sunday, EGX30 slips 4.2%

Egypt's market incurred heavy losses on Sunday, with benchmark index EGX30 plummeting  4.18 percent, reaching 6,522 points and a LE291…
Germany to loan Egypt 4.1 bn euros for electricity

Germany to loan Egypt 4.1 bn euros for electricity

German credit insurance agency Euler Hermes will underwrite a 4.1 billion euro loan to Egypt from a consortium of German…
Egypt’s central bank keeps pound at 7.7301 per dollar: forex trader

Egypt’s central bank keeps pound at 7.7301 per dollar: forex trader

Egypt's central bank kept the pound steady at LE7.7301 to the dollar at its official foreign currency auction on Sunday,…
Global markets brace for short-term hit after Paris attacks

Global markets brace for short-term hit after Paris attacks

Global stocks are set for a short-term sell-off on Monday after Islamist militants launched coordinated attacks across Paris that killed…
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