Economy

China’s October factory, services surveys show economy still wobbly

China’s October factory, services surveys show economy still wobbly

Activity in China's manufacturing sector unexpectedly contracted in October for a third straight month, an official survey showed on Sunday,…
Export development funds up to LE3.7 bn

Export development funds up to LE3.7 bn

Budget allocations for the Exports Development Fund have increased to LE3.7 billion from LE2.6 billion, Trade and Industry Minister Tareq Qabil…
Siemens could expand Egypt power deal, says CEO

Siemens could expand Egypt power deal, says CEO

Siemens could win an expansion of its record 8 billion euro ($8.8 billion) power deal with Egypt, the German industrial…
Egypt’s market gains LE2 bn on Thursday, EGX30 inches up 0.4%

Egypt’s market gains LE2 bn on Thursday, EGX30 inches up 0.4%

Egypt's stock market closed in the green zone on Thursday, as the benchmark EGX30 index inched up 0.38 percent to…
Zohr discovery to make Egypt’s status as LNG importer short-lived

Zohr discovery to make Egypt’s status as LNG importer short-lived

The huge Zohr natural gas field discovered by Eni off the coast of Egypt, could tip the country back into…
Egyptian pound steady at dollar sale, weaker at parallel market

Egyptian pound steady at dollar sale, weaker at parallel market

The Egyptian pound was stable at a dollar sale on Thursday, as the central bank sold $37.8 million at a…
Ghabbour Auto closes down factories due to dollar shortage

Ghabbour Auto closes down factories due to dollar shortage

Ghabour Auto President Raouf Ghabbour said his factories have been closed down since September 1 due to the Central Bank’s restrictions…
Egypt’s bonds slip as economy remains shaky

Egypt’s bonds slip as economy remains shaky

Egypt's bonds have been sliding hard and fast and the cost of insuring them against default has risen to levels…
Central Bank governor promises to review foreign currency deposit restrictions

Central Bank governor promises to review foreign currency deposit restrictions

Central Bank Governor Tarek Amer, who begins his term on November 27, promised businessmen that he would review all restrictions…
Middle East funds turn negative on equities: survey

Middle East funds turn negative on equities: survey

Middle East fund managers have on balance turned negative towards equities in the region because of low oil prices, instability…
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