Business

Orascom Development loses CHF37.96 mn in 1Q of 2015

Orascom Development loses CHF37.96 mn in 1Q of 2015

Orascom Development Holding incurred net losses of CHF37.96 million in the first quarter of 2015, compared with net profit of…
Egypt’s market gains LE4.1 bn on Sunday, EGX30 rises 1.5%

Egypt’s market gains LE4.1 bn on Sunday, EGX30 rises 1.5%

Egypt's market closed in the green zone for Sunday's session, as the benchmark EGX30 Index increased 1.49 percent reaching 9,121.92…
Paper: Arabtec million-housing-unit project in Egypt terminated

Paper: Arabtec million-housing-unit project in Egypt terminated

An Egyptian Housing Ministry official source revealed that negotiations with the UAE's Arabtec to create one million housing units in…
Investment Ministry to restructure 125 businesses

Investment Ministry to restructure 125 businesses

The assets management committee, headed by Investment Minister Ashraf Salman, has decided to stop the sale of productive assets or…
Egyptian pound steady at official auction, weaker on black market

Egyptian pound steady at official auction, weaker on black market

Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Sunday, while…
CBE prepares list to seize Brotherhood-affiliated companies

CBE prepares list to seize Brotherhood-affiliated companies

A senior banking source has revealed that officials from the Central Bank of Egypt (CBE) have prepared a list of…
Egypt to launch up to $3bn LNG purchase tender

Egypt to launch up to $3bn LNG purchase tender

Egypt is set to launch what will be a highly sought after tender in early June to buy up to…
Egypt’s market gains $3 bn in one week, EGX30 jumps 8.3% as govt suspends capital gains tax

Egypt’s market gains $3 bn in one week, EGX30 jumps 8.3% as govt suspends capital gains tax

Egypt's market main index EGX30 jumped 8.25 percent in this week, after the government had put on hold a new tax…
Construction of KIMA 2 factory stopped due to rising energy prices

Construction of KIMA 2 factory stopped due to rising energy prices

The construction works at the KIMA 2 factory in Aswan, which was estimated to cost LE5 billion, and the development…
World Bank provides $5 million grant to eliminate bureaucracy

World Bank provides $5 million grant to eliminate bureaucracy

Trade and Industry Minister Mounir Fakhry Abdel Nour said the World Bank has agreed to a grant of $5 million…
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