Economy

Egyptian-Kuwaiti cooperation council to pump US$4 bn into investments

Egyptian-Kuwaiti cooperation council to pump US$4 bn into investments

Four billion US dollars will be pumped into the Egyptian market over the coming period, according to Moataz al-Alfy, head…
Field of bidders narrows for Citigroup’s Egyptian retail business

Field of bidders narrows for Citigroup’s Egyptian retail business

The number of banks in the running to buy Citigroup's consumer business in Egypt has fallen as the bidding process…
Real estate investments up 30% in Q1/2015

Real estate investments up 30% in Q1/2015

Real estate investments in Egypt have increased by 30 percent in the first quarter of this year, according to Ibrahim…
Egypt hosting COMESA, SADC, EAC free trade agreement launch

Egypt hosting COMESA, SADC, EAC free trade agreement launch

Trade and Industry Minister Mounir Fakhry Abdel Nour said Egypt is hosting the launch of the free trade agreement between…
Egyptian pound steady at official auction, stronger on black market

Egyptian pound steady at official auction, stronger on black market

Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Sunday, while…
Egypt’s market loses LE1 bn on Sunday, EGX30 down 0.51%

Egypt’s market loses LE1 bn on Sunday, EGX30 down 0.51%

Egypt's market closed in red zone on Sunday's session, as benchmark EGX30 Index dropped 0.51 percent to a five-month low…
Egypt’s SODIC doubles first-quarter profit

Egypt’s SODIC doubles first-quarter profit

Egypt's third-largest listed property developer SODIC reported first-quarter net profit of LE79.31 million ($10.39 million), nearly double the 40.33 million…
Egypt’s Oriental Weavers posts slight fall in first-quarter profit

Egypt’s Oriental Weavers posts slight fall in first-quarter profit

 Egypt's Oriental Weavers reported first-quarter net profit of LE152.68 million ($20.01 million) in a statement to the Cairo bourse on…
WB approves $5-bn loan to Egypt over 4 years

WB approves $5-bn loan to Egypt over 4 years

The World Bank approved increasing the volume of financing to Egypt within the four coming years up to US$5 billion,…
Finance minister welcomes S&P’s upgrading of Egypt’s outlook to ‘positive’

Finance minister welcomes S&P’s upgrading of Egypt’s outlook to ‘positive’

Egypt's finance minister welcomed on Friday a revision of ratings provider Standard and Poor's outlook on Egypt from "stable" to…
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