Economy
Egypt’s market loses 19.4 bn in one week, EGX30 falls 5%
May 15, 2015
Egypt’s market loses 19.4 bn in one week, EGX30 falls 5%
Egypt's market dropped sharply this week after MSCI's decision to exclude Telecom Egypt from its emerging markets index on Tuesday. The…
Sisi opens upgraded Armed Forces factories
May 14, 2015
Sisi opens upgraded Armed Forces factories
President Abdel Fattah Al-Sisi opened on Thursday a number of upgraded Armed Forces factories for top-notch cars, armored vehicles and…
Waly urges US businessmen to join march of change in Egypt
May 14, 2015
Waly urges US businessmen to join march of change in Egypt
Social Solidarity Minister Ghada Waly urged US businessmen to join the march of change in Egypt in view of the…
Egyptian pound steady at official auction, stronger on black market
May 14, 2015
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 Thursday, while…
Egypt’s Juhayna says Q1 net income rises 51 %
May 14, 2015
Egypt’s Juhayna says Q1 net income rises 51 %
Juhayna Food Industries, one of Egypt's largest dairy product and juice makers, reported first-quarter net income of LE65 million($8.52 million),…
CAPMAS: Average weekly average of workers reaches LE806 in 2014
May 14, 2015
CAPMAS: Average weekly average of workers reaches LE806 in 2014
Average weekly wages reached LE806 in 2014 for workers of public, business and private sectors, compared to LE761 in 2013,…
E-Finance Chief: Fuel smart cards to be distributed to traffic departments starting May 20
May 14, 2015
E-Finance Chief: Fuel smart cards to be distributed to traffic departments starting May 20
Fuel smart cards will be distributed at Cairo traffic departments starting May 20, according to Ibrahim Sarhan, head of the company…
Egypt’s market threatened with deletion from MSCI index
May 14, 2015
Egypt’s market threatened with deletion from MSCI index
Morgan Stanley Commercial Index threatened the Egyptian Stock Exchange with deletion from its emerging markets index, after removing Telecom Egypt…
Telecom Egypt CEO says no alternative for mobile carrier license
May 14, 2015
Telecom Egypt CEO says no alternative for mobile carrier license
Telecom Egypt CEO Mohamed al-Nawawy said the company has no alternative but to obtain mobile carrier license in order to…
Egypt’s Madinet Nasr Q1 net profit falls 51% yr-on-yr
May 14, 2015
Egypt’s Madinet Nasr Q1 net profit falls 51% yr-on-yr
Egyptian property developer Madinet Nasr reported first-quarter net profit of LE24.8 million ($3.25 million), a 51.3 percent fall from a…