Economy
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…
MIDEAST STOCKS: Dubai may test chart support; Egypt to react to economic plan
March 28, 2016
MIDEAST STOCKS: Dubai may test chart support; Egypt to react to economic plan
Dubai's stock market may test technical support on Monday, while Egyptian investors will react to the announcement by the government…
Egypt’s yields on 91-day, 266-day T-bills jump at auction
March 27, 2016
Egypt’s yields on 91-day, 266-day T-bills jump at auction
Yields on Egypt's three-month and nine-month treasury bills rose at an auction on Sunday, finance ministry data showed.The average yield…
Egypt produces 10 million ducks, imports 25 million annually: Ministry
March 27, 2016
Egypt produces 10 million ducks, imports 25 million annually: Ministry
25 million ducks are imported every year to meet local demand, an official report issued by Agriculture Ministry said on…
Egypt’s Sawiris says CI Capital acquisition stalled by security
March 27, 2016
Egypt’s Sawiris says CI Capital acquisition stalled by security
Egyptian billionaire Naguib Sawiris said on Sunday his bid to acquire CI Capital, the investment arm of Egypt's largest listed…
Egypt to offer shares of AAIB and Banque du Caire on bourse
March 27, 2016
Egypt to offer shares of AAIB and Banque du Caire on bourse
Egypt will offer a 40 percent stake in Arab African International Bank (AAIB) and 20 percent of Banque du Caire…
ABK bent on restructuring Piraeus Egypt
March 27, 2016
ABK bent on restructuring Piraeus Egypt
Al Ahli Bank of Kuwait said Saturday it was close to laying down a strategy for investment restructuring at Piraeus…