Business
Oil prices remain near two-month low, outlook stays weak
November 12, 2015
Oil prices remain near two-month low, outlook stays weak
Oil prices struggled to break away from over two-month lows on Thursday, and the outlook remains bleak as traders ditch…
Egypt cbank names caretaker head as currency crisis rages
November 11, 2015
Egypt cbank names caretaker head as currency crisis rages
Egypt's central bank chief Hisham Ramez said on Wednesday he had appointed Gamal Negm as caretaker governor, Al Youm Al…
Egypt’s market loses LE1.3 bn on Wednesday, EGX30 down 0.3%
November 11, 2015
Egypt’s market loses LE1.3 bn on Wednesday, EGX30 down 0.3%
Egypt's stock market closed in the red zone on Wednesday, for the fourth session in a row, as the benchmark…
EFG joins consortium to acquire Egypt’s e-payment service
November 11, 2015
EFG joins consortium to acquire Egypt’s e-payment service
EFG Hermes, one of the Middle East’s leading investment banks, has joined a consortium to acquire a majority stake in…
Egypt’s EFG Hermes reports rise in Q3 net profit
November 11, 2015
Egypt’s EFG Hermes reports rise in Q3 net profit
Egypt's EFG Hermes, one of the Middle East's largest investment banks, on Wednesday reported a rise in third-quarter net profit…
Egypt’s Commercial International Bank Q3 net profit up 37%
November 11, 2015
Egypt’s Commercial International Bank Q3 net profit up 37%
Egypt's Commercial International Bank (CIB) posted third quarter net profit of LE1.33 billion (US$165.63 million), a 37 percent rise from…
Kuwait’s Al Ahli completes purchase of Piraeus Bank Egypt
November 10, 2015
Kuwait’s Al Ahli completes purchase of Piraeus Bank Egypt
Kuwait's Al Ahli Bank has closed a deal to acquire a 98.5 percent stake in Piraeus Bank's Egypt unit, it…
From Scunthorpe to Tangshan, workers steeled for decline
November 10, 2015
From Scunthorpe to Tangshan, workers steeled for decline
In the gritty northeast English town of Scunthorpe, 25-year-old steel worker Matt Cooke fears for his job, and the future…
Central Bank promises to provide $4 bn to industrial sector in 2 weeks
November 10, 2015
Central Bank promises to provide $4 bn to industrial sector in 2 weeks
Mohamed al-Suwaidi, head of the Federation of Industries, said Tarek Amer, the new central bank governor, has promised that banks…
EasyJet says too early to know cost of UK’s Egypt flight suspension
November 10, 2015
EasyJet says too early to know cost of UK’s Egypt flight suspension
Low cost airline easyJet said on Tuesday that it was too early to say what the cost of a British…