Business
CBE announces $3 bn rise in net foreign reserves on last month
October 3, 2016
CBE announces $3 bn rise in net foreign reserves on last month
The Central Bank of Egypt (CBE) has announced a US$3 billion increase in net foreign reserves in late September compared…
Egypt surges on hope of good news on IMF loan
October 3, 2016
Egypt surges on hope of good news on IMF loan
Egypt's stock market rose sharply in early trade on Monday on hopes that an international financing package for the country…
Egyptian pound devaluation, partial floatation expected this week
October 3, 2016
Egyptian pound devaluation, partial floatation expected this week
The Egyptian pound could be devalued this week, ahead of a national holiday commemmorating the 6th October War, according to…
Egypt to seeks bids for retinal scan system at airports
October 3, 2016
Egypt to seeks bids for retinal scan system at airports
Egypt will soon announce a tender for a new security system for Cairo Airport employees involving retinal scans, in an…
Volkswagen will pay $1.21 billion to settle U.S. dealer claims
October 2, 2016
Volkswagen will pay $1.21 billion to settle U.S. dealer claims
Volkswagen AG confirmed late Friday it will make $1.21 billion in payments to 652 U.S. brand dealers as part of…
EgyptAir resumes flights between Luxor and London after one-year halt
October 2, 2016
EgyptAir resumes flights between Luxor and London after one-year halt
Safwat Mesallam, chairman of EgyptAir Holding Company, said on Sunday that the company is resuming flights between Luxor and London…
100 days after Brexit vote: No meltdown (yet)
October 2, 2016
100 days after Brexit vote: No meltdown (yet)
Britain voted 100 days ago to leave the European Union, but the U.K. economy appears to be humming along nicely…
Germany’s Merkel cannot afford to bail out Deutsche Bank: media
October 1, 2016
Germany’s Merkel cannot afford to bail out Deutsche Bank: media
German Chancellor Angela Merkel cannot afford to bail out Deutsche Bank (DBKGn.DE) given the hard line Berlin has taken against…
Egypt starts work on north-coast ‘medical city’ costing LE8 bn
October 1, 2016
Egypt starts work on north-coast ‘medical city’ costing LE8 bn
The foundation stone has been laid for a "medical city" development in Alexandria that is likely to cost around LE8…
German government believes Trump would ravage U.S. economy: Spiegel
October 1, 2016
German government believes Trump would ravage U.S. economy: Spiegel
Germany's economy ministry believes a Donald Trump presidency would severely damage the U.S.