Economy
Egyptian pound steady on official, black markets
May 6, 2015
Egyptian pound steady on official, black markets
Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Wednesday while…
Government to rent spinning factories to investors
May 6, 2015
Government to rent spinning factories to investors
The Cotton Spinning and Weaving Holding Company has adopted the policy of renting out faltering factories to develop them.
World Bank approves $500 mn loan for 1 million housing units
May 6, 2015
World Bank approves $500 mn loan for 1 million housing units
According to a statement issued by Housing Minister Mostafa Madbouly on Wednesday, the World Bank has approved a US$500 million…
Prof of Economics Galal Amin at AUC: Govt has no real development plan
May 5, 2015
Prof of Economics Galal Amin at AUC: Govt has no real development plan
Contradicting current economic theories, Galal Amin, professor of economics at the American University in Cairo, spoke in an interview with…
Newspaper: 8 banks offer LE10bn loan to Egyptian Electricity Company
May 5, 2015
Newspaper: 8 banks offer LE10bn loan to Egyptian Electricity Company
A group of 8 banks have offered to provide the Egyptian Electricity Holding Company (EEHC) with a LE10bn loan, aimed…
Egypt’s market gains LE6.7 billion on Tuesday, EGX30 rises 2.04%
May 5, 2015
Egypt’s market gains LE6.7 billion on Tuesday, EGX30 rises 2.04%
Egypt's market boosted its gains for the second day in a row, as the EGX30 on Tuesday's session rose by…
Tourism expert: Developing duty free shops important
May 5, 2015
Tourism expert: Developing duty free shops important
Atef Abdel Latif, tourism expert and member of the Marsa Alam and South Sinai investors associations, has stressed the need…
Egypt’s GB Auto says shareholders take up $125.8 mn cash call
May 5, 2015
Egypt’s GB Auto says shareholders take up $125.8 mn cash call
Shareholders in Egypt's GB Auto have subscribed to almost all of its LE960 million ($125.82 million) rights issue as the…
Egypt’s FIHC tenders to buy soybean oil and sunflower oil
May 5, 2015
Egypt’s FIHC tenders to buy soybean oil and sunflower oil
Egypt's state-backed Food Industries Holding Company (FIHC) has issued an international tender to purchase up to 25,000 tonnes of crude…
Emaar Misr’s Egypt unit aims to raise $367 mn
May 5, 2015
Emaar Misr’s Egypt unit aims to raise $367 mn
Egypt's Emmar Misr said on Tuesday its board had recommended to shareholders that the developer offer 600 million shares on…