Economy
Egyptian pound steady at official auction, exchange bureaus
August 9, 2015
Egyptian pound steady at official auction, exchange bureaus
Egypt's central bank kept the pound steady at 7.73 per dollar at a foreign exchange auction on Sunday. The currency…
Minister: New Suez Canal to double Egypt’s exports in 5 years
August 6, 2015
Minister: New Suez Canal to double Egypt’s exports in 5 years
The New Suez Canal will increase Egypt's exports from $4.6 billion to nearly 8 billion dollars in five years, Agriculture…
Egypt’s Global Telecom reports $28 mn Q2 net profit
August 6, 2015
Egypt’s Global Telecom reports $28 mn Q2 net profit
Egypt's Global Telecom Holding , formerly Orascom Telecom, reported a second-quarter net profit of $28 million.That compared with a loss…
Oil prices drop on high supplies
August 6, 2015
Oil prices drop on high supplies
Oil prices fell Thursday after a mixed US energy report showed a healthy decline in crude stockpiles but a rise…
Egypt agrees to export cotton to Ukraine in exchange for wheat imports
August 5, 2015
Egypt agrees to export cotton to Ukraine in exchange for wheat imports
Egypt has agreed to export Egyptian cotton to Ukraine in exchange for importing Ukrainian wheat, Egypt's state news agency MENA…
Egypt’s market loses LE2.4 billion on Wednesday, EGX30 down 0.8%
August 5, 2015
Egypt’s market loses LE2.4 billion on Wednesday, EGX30 down 0.8%
Egypt's market closed in the red zone on Wednesday's session, as the benchmark EGX30 index went down 0.83 percent, recording…
$2 bn bilateral trade with UAE in 2014, up 17% from 2013
August 5, 2015
$2 bn bilateral trade with UAE in 2014, up 17% from 2013
The bilateral trade between Egypt and the United Arab Emirates rose by 17 percent in 2014, compared to the year…
Analysis : Raising interest rates with zero inflation is a hard sell
August 5, 2015
Analysis : Raising interest rates with zero inflation is a hard sell
Americans and Britons bracing for their first interest rate rises in almost a decade are puzzled: why are rates about…
Sidi Kerir H1 profit falls to LE421.8 mn
August 5, 2015
Sidi Kerir H1 profit falls to LE421.8 mn
Egypt's Sidi Kerir Petrochemicals posted a first-half profit of LE421.8 million ($53.9 million) on Wednesday, down from LE480 million a…
Kuwait’s Al Ahli gets Egyptian c.bank nod to buy Piraeus Bank Egypt
August 5, 2015
Kuwait’s Al Ahli gets Egyptian c.bank nod to buy Piraeus Bank Egypt
Kuwait's Al Ahli Bank received approval from the Egyptian central bank to buy Piraeus Bank's unit in the North African…