Economy

Egypt’s market loses LE3.9 bn on Monday, EGX30 drops 1.9%

Egypt’s market loses LE3.9 bn on Monday, EGX30 drops 1.9%

Egypt's market suffered losses during Monday's session, with the benchmark index EGX30 dropping by 1.87 percent, reaching 6,357 points and…
Oil set for 10 percent fall in November as supply glut persists

Oil set for 10 percent fall in November as supply glut persists

Oil prices on Monday were on course to end November some 10 percent lower as a global supply glut showed…
IFC to invest in Egypt-based Sphinx Glass

IFC to invest in Egypt-based Sphinx Glass

The International Finance Corporation (IFC), a member of the World Bank Group, announced on Sunday that it is investing in…
Mideast funds a bit more positive on stocks, bearish on bonds: survey

Mideast funds a bit more positive on stocks, bearish on bonds: survey

Middle East fund managers have become slightly more positive on regional equities after valuations fell, and more bearish on bonds…
Egypt inaugurates 270 mn-euro wind turbine plant

Egypt inaugurates 270 mn-euro wind turbine plant

Egypt’s Electricity and Renewable Energy Minister Mohamed Shaker opened an EU-funded wind turbine station for electricity production at a total cost…
Egypt Central Bank to hold pound steady at first auction under new governor: traders

Egypt Central Bank to hold pound steady at first auction under new governor: traders

Egypt's central bank will hold the pound steady at LE7.7301 to the dollar at an official foreign currency auction on…
Private company awaits permit for gas import from Israel

Private company awaits permit for gas import from Israel

An Egyptian private energy firm is a waiting for permission from Egypt’s national gas company to begin importing natural gas…
New c.bank chief watched in Egypt

New c.bank chief watched in Egypt

In Egypt, investors will be watching the level of the Egyptian pound at official auctions and in the parallel market…
38% decrease in Egypt oil exports during August: CAPMAS

38% decrease in Egypt oil exports during August: CAPMAS

The Central Agency for Public Mobilization and Statistics (CAPMAS) said on Saturday that Egypt's oil exports decreased by 38 percent…
SCA signs deal with DP World for Ain Sokhna sea port development

SCA signs deal with DP World for Ain Sokhna sea port development

Egypt’s Suez Canal Authority (SCA) and the Red Sea Ports Authority signed an agreement with Dubai Ports World and Sonker…
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