Business
Egyptian pound hits all-time low against the dollar on black market
March 9, 2016
Egyptian pound hits all-time low against the dollar on black market
The value of the Egyptian pound relative to the US dollar hit rock bottom last week, with US$1 equaling LE10…
Central bank removes dollar deposits cap for companies
March 9, 2016
Central bank removes dollar deposits cap for companies
The Central Bank of Egypt (CBE) has removed a limit it imposed in February 2015 on foreign currency deposits and…
Obama advisor submits proposals for Egypt’s currency crisis
March 9, 2016
Obama advisor submits proposals for Egypt’s currency crisis
Egypt’s central bank official Mohamed al-Erian has submitted a paper of proposals to “high-level” state bodies to resolve the current…
Egypt’s Suez Cement says profit transfers hit by currency crisis
March 8, 2016
Egypt’s Suez Cement says profit transfers hit by currency crisis
Suez Cement, which is 55 percent owned by Italian firm Italicementi, is struggling to transfer shareholder profits out of Egypt…
Chinese firm to start drilling at administrative capital site in April: minister
March 8, 2016
Chinese firm to start drilling at administrative capital site in April: minister
The Chinese construction firm CSCEC will start drilling work on the site of Egypt's new administrative capital in early April,…
Sawiris eyes EU50 bn bank in Luxembourg
March 8, 2016
Sawiris eyes EU50 bn bank in Luxembourg
Egyptian businessman Naguib Sawiris plans to invest 50 million euros (US$55 million) to set up a bank in Luxembourg specializing…
Read my lips: Abenomics is losing its gloss
March 8, 2016
Read my lips: Abenomics is losing its gloss
Lipstick shades are kissing off Japan's short-lived economic recovery, and fashion industry hues are turning as somber as a central…
Egypt to work with FAO on wheat ergot legislation: ministry
March 8, 2016
Egypt to work with FAO on wheat ergot legislation: ministry
Egypt will work with the United Nations Food and Agriculture Organization (FAO) on the country's wheat ergot policy, the agriculture…
Wall Street vets battle BP in fallout over Canada refinery
March 7, 2016
Wall Street vets battle BP in fallout over Canada refinery
A legal battle between a team of former Wall Street oil traders and behemoth producer BP plc over a remote…
Battle between rival chairmen of Libya’s $67 billion fund reaches UK court
March 7, 2016
Battle between rival chairmen of Libya’s $67 billion fund reaches UK court
A long-running dispute over the leadership of Libya's US$67 billion sovereign wealth fund reaches London's High Court on Monday, potentially…