Economy
Thomas Cook’s extension of Egypt travel ban ‘weird’: Tourism Ministry
March 10, 2016
Thomas Cook’s extension of Egypt travel ban ‘weird’: Tourism Ministry
Egypt’s Tourism Ministry has slammed Thomas Cook’s decision to extend the suspension of its travels to Sharm el-Sheikh, labelling it…
Egypt to offer incentives for low-cost airlines: tourism minister
March 10, 2016
Egypt to offer incentives for low-cost airlines: tourism minister
Egypt plans to announce incentives for low-cost airlines such as easyJet and Germany's Air Berlin and Condor to help combat…
Telecom Egypt to issue dividend of 75 piasters per share for 2015
March 10, 2016
Telecom Egypt to issue dividend of 75 piasters per share for 2015
Telecom Egypt plans to issue a dividend of 75 piasters per share for 2015, the firm said in a bourse…
Urban consumer price inflation eased to 9.1 % in Feb.: CAPMAS
March 10, 2016
Urban consumer price inflation eased to 9.1 % in Feb.: CAPMAS
Egypt's annual urban consumer price inflation eased to 9.1 percent in February from 10.1 percent in January, the official statistics…
Egyptian pound hits all-time low against the dollar on black market
March 9, 2016
Egyptian pound hits all-time low against the dollar on black market
The value of the Egyptian pound relative to the US dollar hit rock bottom last week, with US$1 equaling LE10…
Central bank removes dollar deposits cap for companies
March 9, 2016
Central bank removes dollar deposits cap for companies
The Central Bank of Egypt (CBE) has removed a limit it imposed in February 2015 on foreign currency deposits and…
Obama advisor submits proposals for Egypt’s currency crisis
March 9, 2016
Obama advisor submits proposals for Egypt’s currency crisis
Egypt’s central bank official Mohamed al-Erian has submitted a paper of proposals to “high-level” state bodies to resolve the current…
Egypt’s Suez Cement says profit transfers hit by currency crisis
March 8, 2016
Egypt’s Suez Cement says profit transfers hit by currency crisis
Suez Cement, which is 55 percent owned by Italian firm Italicementi, is struggling to transfer shareholder profits out of Egypt…
Chinese firm to start drilling at administrative capital site in April: minister
March 8, 2016
Chinese firm to start drilling at administrative capital site in April: minister
The Chinese construction firm CSCEC will start drilling work on the site of Egypt's new administrative capital in early April,…
Sawiris eyes EU50 bn bank in Luxembourg
March 8, 2016
Sawiris eyes EU50 bn bank in Luxembourg
Egyptian businessman Naguib Sawiris plans to invest 50 million euros (US$55 million) to set up a bank in Luxembourg specializing…