Business
Telecom Egypt’s first-quarter net profit more than doubles
May 9, 2016
Telecom Egypt’s first-quarter net profit more than doubles
State-owned landline monopoly Telecom Egypt's first-quarter net profit jumped almost 116 percent due to growth in its retail business segment.The…
Oil jumps on Canada wildfire outages, markets eye Saudi reshuffle
May 9, 2016
Oil jumps on Canada wildfire outages, markets eye Saudi reshuffle
Oil rallied on Monday as Canada's most destructive wildfire in recent memory knocked out over a million barrels in daily…
Egypt’s Orascom Construction wins US$308 mln Cairo metro line contracts
May 9, 2016
Egypt’s Orascom Construction wins US$308 mln Cairo metro line contracts
Egypt's Orascom Construction has won two contracts worth 270 million euros (US$307.75 million) for work on the third phase of…
Saudi stock market rises after government reshuffle
May 8, 2016
Saudi stock market rises after government reshuffle
Saudi Arabia's stock market rose in early trade on Sunday after the king announced a sweeping reorganisation of the economic…
Oil falls as investors cash in on month-long gains
May 6, 2016
Oil falls as investors cash in on month-long gains
Oil prices fell on Friday as investors cashed in on a 20-percent rise over the past month, outweighing the impact…
China to invest $11.9 billion in aviation infrastructure in 2016: Xinhua
May 5, 2016
China to invest $11.9 billion in aviation infrastructure in 2016: Xinhua
China will invest 77 billion yuan (US$11.9 billion) this year in building aviation infrastructure, the official Xinhua news agency reported…
Oil rallies as Canada fire and Libya violence threaten supply
May 5, 2016
Oil rallies as Canada fire and Libya violence threaten supply
A huge wildfire near Canada's oil sands region and escalating tensions in Libya stoked concern among investors over a near-term…
EFG-Hermes to more than double renewable energy investments it manages
May 5, 2016
EFG-Hermes to more than double renewable energy investments it manages
Egypt's EFG-Hermes is planning to increase the investments it manages in renewable energy to 1.5-2 billion euros in the next…
LE 6 billion to establish chain stores in 8 provinces: Minister
May 4, 2016
LE 6 billion to establish chain stores in 8 provinces: Minister
The Internal Trade Development Authority (ITDA), affiliated with the Domestic Trade and Supply Ministry, began Wednesday the second phase of…
Energy units lift Siemens’ profit well above forecasts
May 4, 2016
Energy units lift Siemens’ profit well above forecasts
German industrial group Siemens beat expectations for second-quarter profit as it accelerated a cost-cutting programme and lifted its savings target…