Economy
Egypt’s Ezz Steel reports 2014 net loss of $109.5 mn
June 3, 2015
Egypt’s Ezz Steel reports 2014 net loss of $109.5 mn
Egypt's biggest steelmaker Ezz Steel reported a net loss of LE835.58 million ($109.5 million) for 2014, it said in a…
Egyptian pound steady at official auction and on black market
June 2, 2015
Egyptian pound steady at official auction and on black market
Egypt's central bank kept the pound's exchange rate steady at 7.53 to the U.S. dollar at a foreign exchange auction…
Egypt’s market gains LE4.5 billion on Tuesday, EGX30 rises 1.2%
June 2, 2015
Egypt’s market gains LE4.5 billion on Tuesday, EGX30 rises 1.2%
Egypt's stock market has recovered from the fifth selloff session in a row, as the benchmark EGX30 index on Tuesday…
BP to pay some exploration costs for UAE’s Dana Gas in Egypt
June 2, 2015
BP to pay some exploration costs for UAE’s Dana Gas in Egypt
The United Arab Emirates' Dana Gas has signed an agreement for BP to pay for part of its exploration costs…
Egyptian banking sector’s loans grow 16% to LE675 bn in first 9 months of 2014/15
June 2, 2015
Egyptian banking sector’s loans grow 16% to LE675 bn in first 9 months of 2014/15
Egyptian banking sector loans grew at a rate of 15.6 percent, equivalent to LE91 billion during the first nine months…
Egypt’s Pioneers Holding buys cable factory for $37 mn
June 2, 2015
Egypt’s Pioneers Holding buys cable factory for $37 mn
A subsidiary of Egypt's Pioneers Holding has acquired a cable production factory in a deal worth LE286 million ($37 million),…
Oxfam: Corporations deprive Africa of $11 billion yearly in taxes
June 2, 2015
Oxfam: Corporations deprive Africa of $11 billion yearly in taxes
Multinational companies deprive African governments of $11 billion in taxes each year, and G7 world leaders should set up a…
Chairman: Egypt’s stock exchange to move to next-day settlement soon
June 1, 2015
Chairman: Egypt’s stock exchange to move to next-day settlement soon
Egypt's stock exchange will soon move to next-day settlement of trades, the bourse chairman said on Sunday, a move that…
Cabinet to restore government ownership of Nile Cotton Ginning Company
June 1, 2015
Cabinet to restore government ownership of Nile Cotton Ginning Company
According to a Cabinet decision, the Investment Ministry may begin restoring the government ownership of the Nile Cotton Ginning Company…
Egypt’s market loses LE1.2 billion on Monday, EGX30 down 0.43%
June 1, 2015
Egypt’s market loses LE1.2 billion on Monday, EGX30 down 0.43%
Egypt's stocked market closed with lower indexes for the fifth session in a row, as the benchmark EGX30 index on…