Business

New oil excavations in Suez Gulf

New oil excavations in Suez Gulf

The Egyptian Petroleum Ministry has declared new oil excavations east of Gabal al-Zeit, in the Gulf of Suez.Its production will…
Lufthansa pilots’ union rejects latest offer, suspends strikes

Lufthansa pilots’ union rejects latest offer, suspends strikes

Lufthansa's (LHAG.DE) pilots' union rejected the German airline's latest pay offer on Friday, but lifted the immediate threat of extending…
Currency drop hits Egypt’s medicine supplies, angering public

Currency drop hits Egypt’s medicine supplies, angering public

Pharmacies across Egypt are running short of medicines, some of them life-savers, as a plunge in the value of the…
Ahmad Touni newly designated Smart Villages Company CEO

Ahmad Touni newly designated Smart Villages Company CEO

Building on a rich career timeline, the newly-appointed Smart Villages Co CEO Engineer Ahmad Touni invests over 35 years of…
Egypt-Ukraine Council considering local currency barter

Egypt-Ukraine Council considering local currency barter

The Egypt-Ukraine Business Council (the Egyptian side) is exploring reciprocal trade prospects and means of increasing exports to Ukraine in…
US grants second Airbus license to sell planes to Iran

US grants second Airbus license to sell planes to Iran

The United States said on Tuesday it had issued a second license to France's Airbus to sell commercial planes to…
Govt to review tenders concluded prior to pound flotation

Govt to review tenders concluded prior to pound flotation

The chairman of the Federation of Industries, Mohamed Al-Sweidy, announced the approval of the Cabinet on the formation of a…
Why is US dollar rising again?

Why is US dollar rising again?

Optimism waves receded among economists on Monday, after the US dollar exchange rates rose against the Egyptian pound in banks,…
US dollar hits LE18 again

US dollar hits LE18 again

The US dollar continued its rise against the Egyptian pound in the banks for the second consecutive day on Monday,…
Egyptian banks have attracted US$3 bln since currency float – CBE official

Egyptian banks have attracted US$3 bln since currency float – CBE official

Egyptian banks have attracted some US$3 billion since Egypt took the dramatic step of floating its pound earlier this month,…
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