Economy

Egypt’s Suez Cement says profit transfers hit by currency crisis

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

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

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…
Read my lips: Abenomics is losing its gloss

Read my lips: Abenomics is losing its gloss

Lipstick shades are kissing off Japan's short-lived economic recovery, and fashion industry hues are turning as somber as a central…
Egypt to work with FAO on wheat ergot legislation: ministry

Egypt to work with FAO on wheat ergot legislation: ministry

Egypt will work with the United Nations Food and Agriculture Organization (FAO) on the country's wheat ergot policy, the agriculture…
Wall Street vets battle BP in fallout over Canada refinery

Wall Street vets battle BP in fallout over Canada refinery

A legal battle between a team of former Wall Street oil traders and behemoth producer BP plc over a remote…
Battle between rival chairmen of Libya’s $67 billion fund reaches UK court

Battle between rival chairmen of Libya’s $67 billion fund reaches UK court

A long-running dispute over the leadership of Libya's US$67 billion sovereign wealth fund reaches London's High Court on Monday, potentially…
Egypt replaces head of agriculture quarantine authority

Egypt replaces head of agriculture quarantine authority

Egypt has appointed a new head of its agriculture quarantine authority, the ministry of agriculture said on Sunday, replacing Saad…
Egypt central bank to hold exceptional $500 million FX auction on Sunday

Egypt central bank to hold exceptional $500 million FX auction on Sunday

Egypt's central bank said on Sunday it would hold an exceptional auction for US$500 million to cover imports of strategic…
China’s economy will ‘absolutely not’ experience hard landing: state planner

China’s economy will ‘absolutely not’ experience hard landing: state planner

China's economy isn't headed for a hard landing and isn't dragging on the global economy, China's top economic planner said…
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