Business
Government considers increasing ration card subsidies to LE27
March 30, 2017
Government considers increasing ration card subsidies to LE27
The government is considering increasing subsidies on ration cards by 29 percent to LE27 (US$1.5) a month in the next…
CityScape annual real estate conference kicks off Wednesday
March 30, 2017
CityScape annual real estate conference kicks off Wednesday
CityScape's annual real estate conference kicked off on Wednesday under the title "The Roadmap toward Innovation". The conference will be held…
EIB offers US$500 million to develop Cairo Metro line
March 30, 2017
EIB offers US$500 million to develop Cairo Metro line
The European Investment Bank has offered US$500 million to finance the development of the first Cairo Metro line, which extends…
Moody’s sees Egypt’s economy growing but reforms slipping
March 30, 2017
Moody’s sees Egypt’s economy growing but reforms slipping
The economic picture for Egypt is improving, ratings agency Moody's said on Wednesday, but a public backlash will likely lead…
Saudi Aramco formally appoints banks to advise on share sale
March 30, 2017
Saudi Aramco formally appoints banks to advise on share sale
Saudi Aramco has formally appointed JPMorgan Chase & Co, Morgan Stanley and HSBC as international financial advisers for its initial…
EgyptAir losses exceed LE15 billion due to currency flotation: Aviation Minister
March 29, 2017
EgyptAir losses exceed LE15 billion due to currency flotation: Aviation Minister
The flotation of the Egyptian pound augmented air carrier EgyptAir's already significant losses to more than LE15 billion, said Civil…
Aramco tax cut lifts company’s value by US$1 trillion, analyst estimates
March 29, 2017
Aramco tax cut lifts company’s value by US$1 trillion, analyst estimates
Saudi Arabia's decision to cut tax paid by national oil giant Saudi Aramco has increased its value by US$1 trillion,…
Electricity Ministry mulls basing new increases on consumption level
March 28, 2017
Electricity Ministry mulls basing new increases on consumption level
A source with the Electric Utility and Consumer Protection Regulatory Agency announced that the agency has finalized proposals on a…
CNN: Amazon buys Souq in big play for Middle East market
March 28, 2017
CNN: Amazon buys Souq in big play for Middle East market
Amazon has had its eye on the Middle East for some time. Now it's finally made a move. It has…
Tesco handed £214 mn in penalties over false accounting
March 28, 2017
Tesco handed £214 mn in penalties over false accounting
Supermarket Tesco has agreed to a fine and compensation costs totalling £214 million ($268 million, 247 million euros) after an…