Business
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…
Egypt negotiating with G-8 countries on economic support: minister
March 28, 2017
Egypt negotiating with G-8 countries on economic support: minister
Sahar Nasr, Minister of International Cooperation, announced that the government is continuing its negotiations with the G-8 countries to fulfill…
Sisi orders instructions on allocating more expenditure for health, education
March 27, 2017
Sisi orders instructions on allocating more expenditure for health, education
President Abdel Fattah al-Sisi held on Sunday a meeting with Prime Minister Sherif Ismail, Finance Minister Amr al-Garhy and Planning…
Greek investment in Egypt adds up to one bln euros: Ambassador
March 27, 2017
Greek investment in Egypt adds up to one bln euros: Ambassador
The Ambassador of Greece to Cairo, Michel Christos Diamisis, said that Egypt is a close partner and a friendly neighboring…