Economy

Egyptian pound steady at dollar sale, on parallel market

Egyptian pound steady at dollar sale, on parallel market

Egypt's central bank kept the pound steady at a dollar sale on Sunday, as it sold $37.5 million at a…
Govt seeks 1,5% budget deficit reduction relying on subsidy cuts: PM

Govt seeks 1,5% budget deficit reduction relying on subsidy cuts: PM

Prime Minister Sherif Ismail announced on Saturday that the government has been tasked with reducing the budget deficit by 1.5…
Egypt invites firms to settle 45-cargo LNG tender this weekend

Egypt invites firms to settle 45-cargo LNG tender this weekend

Egypt is due to settle a closely watched tender for the purchase of 45 liquefied natural gas (LNG) cargoes this…
Osborne sees global risks rising, but sanguine on China

Osborne sees global risks rising, but sanguine on China

Global economic risks are rising and Britain will not be immune, chancellor George Osborne said on Friday, but he said…
Egypt’s market gains $5.3 bn in a week, EGX 30 index rises 2.5%

Egypt’s market gains $5.3 bn in a week, EGX 30 index rises 2.5%

Egypt's stock market has witnessed wins of LE5.3 billion (US$680 million) this week, as all indexes jumped, Egyptian Exchange data…
Orascom Telcom and Act Financial seek 100 pct of Beltone Financial

Orascom Telcom and Act Financial seek 100 pct of Beltone Financial

Orascom Telecom Media and Technology and Act Financial are seeking to acquire 100 percent of Beltone Financial, Orascom Telecom said…
Egypt’s market gains LE4.2 bn on Wednesday, EGX30 rises 1.6%

Egypt’s market gains LE4.2 bn on Wednesday, EGX30 rises 1.6%

Egypt's stock market closed in the green zone on Wednesday, as the benchmark EGX30 index rose 1.59 percent to 7,354.56…
MIDEAST STOCKS: Gulf rises on strong oil; Dubai tests chart barrier

MIDEAST STOCKS: Gulf rises on strong oil; Dubai tests chart barrier

Gulf stock markets rose moderately in early trade on Wednesday after oil prices jumped overnight, although modest trading volumes on…
Oil rally lifts energy firms, dollar eases on risk confidence

Oil rally lifts energy firms, dollar eases on risk confidence

Oil prices on Wednesday extended a rally on hopes a global supply glut could be easing, boosting Asian energy shares,…
Rice exports regulator says no need to raise prices

Rice exports regulator says no need to raise prices

Egypt’s rice export council said the Trade and Industry Ministry’s recent decision to open the door for chaffed rice exports for six…
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