Business
Orascom to split construction, fertiliser units for separate listings
February 16, 2015
Orascom to split construction, fertiliser units for separate listings
Orascom Construction has started proceedings for the demerger of the company's units with its engineering and construction business to be…
Etisalat’s Egypt unit signs $120 mn loan
February 16, 2015
Etisalat’s Egypt unit signs $120 mn loan
Etisalat's Egyptian telecom subsidiary Etisalat Misr has signed a $120 million three-year loan with HSBC and National Bank of Abu…
Egyptian pound steady officially, strengthens on black market
February 16, 2015
Egyptian pound steady officially, strengthens on black market
Egypt's central bank kept the pound steady at LE7.53 to the dollar at a foreign exchange auction on Monday, but…
Egypt, Cyprus aim for gas import deal in 6 months
February 16, 2015
Egypt, Cyprus aim for gas import deal in 6 months
Egypt and Cyprus have signed a memorandum of understanding on energy cooperation and aim to reach a deal on Egyptian…
Govt considers borrowing in foreign currency
February 16, 2015
Govt considers borrowing in foreign currency
Prime Minister Ibrahim Mehleb has said the government is considering the issuance of investment certificates or bonds in US dollars…
CBE dismisses rumors of amending dollar deposit cap
February 16, 2015
CBE dismisses rumors of amending dollar deposit cap
The Central Bank of Egypt’s (CBE) has denounced rumors that the Bank might amend the recent US$10,000 cap on dollar…
Oil steadies around $61, Kuwait sees prices supported
February 16, 2015
Oil steadies around $61, Kuwait sees prices supported
Oil steadied around $61 (£39.5) a barrel on Monday, holding gains from last week, after Kuwait's oil minister said lower…
Egypt’s Qalaa says seeking to raise $300 mln through divestments
February 16, 2015
Egypt’s Qalaa says seeking to raise $300 mln through divestments
Qalaa Holdings, one of Egypt's largest investment companies, is seeking to raise $300 million over the medium term through divestments,…
Lactalis subsidiary tops rival bid for Egypt’s Arab Dairy
February 15, 2015
Lactalis subsidiary tops rival bid for Egypt’s Arab Dairy
A subsidiary of Europe's biggest dairy group Lactalis has raised its offer for Egypt's Arab Dairy to 65.75 Egyptian pounds…
Egypt’s banks’ credit balances rose by 5.2% to LE30.4 bn during July/Nov 2014/15
February 15, 2015
Egypt’s banks’ credit balances rose by 5.2% to LE30.4 bn during July/Nov 2014/15
Egypt's banks’ credit balances rose by 5.2 percent reaching LE30.4 billion ($3.98 billion) during July/November 2014/2015 compared to LE27.9 billion ($3.66 billion)…