Economy

Egypt’s market loses LE8.5 bn on Sunday, EGX30 falls 2.6%

Egypt’s market loses LE8.5 bn on Sunday, EGX30 falls 2.6%

Egypt's stock market closed in the red zone on Sunday, as the benchmark EGX30 index dropped 2.58 percent to 7,347…
China imports fall in sign of battered domestic demand

China imports fall in sign of battered domestic demand

China's imports fell 16 percent in October from a year ago to 833.14 billion yuan (US$131.2 billion), official data showed…
Egypt’s Global Telecom reports Q3 2015 net profit of $13 million

Egypt’s Global Telecom reports Q3 2015 net profit of $13 million

Global Telecom, the Egypt-based group formerly known as Orascom Telecom, reported on Friday a $13 million net profit for the…
BP agrees to fast-track Egyptian gas field

BP agrees to fast-track Egyptian gas field

BP has signed a preliminary deal with Egypt to rapidly develop the Atoll offshore gas field that is now expected…
Asian markets eye US jobs report, Nikkei riding high

Asian markets eye US jobs report, Nikkei riding high

Tokyo's benchmark Nikkei index was on course for its best showing since-mid August on Friday, while traders in Asia were…
December interest rate hike a ‘live possibility’: Fed

December interest rate hike a ‘live possibility’: Fed

Federal Reserve governor Janet Yellen told Congress Wednesday that a December rate hike was a "possibility". The Turkish lira reacted on…
Egypt’s market gains LE3.6 bn on Thursday, EGX30 rises 1.2%

Egypt’s market gains LE3.6 bn on Thursday, EGX30 rises 1.2%

Egypt's stock market extended its gains on Thursday, as the benchmark EGX30 index rose 1.23 percent to 7,541 points with…
Egypt to buy wheat from local farmers at average global price

Egypt to buy wheat from local farmers at average global price

Egypt will start buying wheat from local farmers at the average global price starting next season, the cabinet said in…
Warnings of applying the value-added tax

Warnings of applying the value-added tax

A senior Finance Ministry official said the Interior Ministry and other state agencies warned of applying a new value-added tax…
Ezz Steel posts Q2 net loss of $36.32 mn

Ezz Steel posts Q2 net loss of $36.32 mn

Egypt's Ezz Steel's net loss in the second quarter of 2015 widened to LE291.63 million (US$36.32 million) from LE162.67 million…
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