Business

Egypt’s market loses LE6.13 billion on Monday, EGX30 drops 1.93%

Egypt’s market loses LE6.13 billion on Monday, EGX30 drops 1.93%

Egypt's market incurred heavy losses on Monday for the second session in a row, with the benchmark index EGX30 dropping…
CIB to submit offer for Citigroup’s Egyptian retail portfolio

CIB to submit offer for Citigroup’s Egyptian retail portfolio

Egypt's Commercial International Bank (CIB) said on Monday its management had decided to submit a binding offer to acquire Citigroup's…
Egypt’s foodmaker Edita signs $12mn contracts with Hostess Brands

Egypt’s foodmaker Edita signs $12mn contracts with Hostess Brands

Egyptian foodmaker Edita signed two contacts worth $12 million with U.S.-based Hostess Brands LLC to buy the manufacturing rights of…
Egypt’s EFG-Hermes seeks to raise $51mn in capital hike

Egypt’s EFG-Hermes seeks to raise $51mn in capital hike

Egypt's EFG-Hermes, one of the Middle East's largest investment banks, is seeking to raise its capital by 391.83 million Egyptian…
Egyptian pound steady on official market, weaker on black market

Egyptian pound steady on official market, weaker on black market

Egypt's central bank kept the pound steady at LE7.53 to the dollar at a foreign exchange auction on Sunday, while…
Egypt’s Ezz Steel to raise stake in flat-steel unit

Egypt’s Ezz Steel to raise stake in flat-steel unit

Egypt's biggest steelmaker Ezz Steel said on Sunday it was increasing its stake in its flat-steel subsidiary by converting $255…
Egypt arm of Dubai developer Emaar reports big profit increase

Egypt arm of Dubai developer Emaar reports big profit increase

Emaar Misr, the Egyptian arm of Dubai developer Emaar Properties, on Sunday reported a big jump in first-quarter profits, supported…
Egypt’s market loses LE2.9 million on Sunday, EGX30 falls 1.37%

Egypt’s market loses LE2.9 million on Sunday, EGX30 falls 1.37%

Egypt's benchmark index EGX30 declined 1.37 percent on Sunday's session, reaching 8,765.34 points, with a weak turnover of LE374 million,…
Egypt’s stocks slip as sugar protectionism may hurt food makers

Egypt’s stocks slip as sugar protectionism may hurt food makers

Egypt's main stock index slipped in early trade on Sunday, partly because of Juhayna Food Industries, which may face higher…
Egypt’s GASC buys 300,000 tonnes wheat

Egypt’s GASC buys 300,000 tonnes wheat

Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Saturday it had bought 300,000 tonnes of…
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