Business

Central Bank: Egypt’s foreign reserves rise to $16.909 bn in October

Central Bank: Egypt’s foreign reserves rise to $16.909 bn in October

Egypt's foreign reserves rose to US$16.909 billion at the end of October from $16.872 billion the previous month, the central…
Private fertilizers providers refuse to give more subsidized amounts

Private fertilizers providers refuse to give more subsidized amounts

Private fertilizer providers have declined to increase subsidized amounts delivered to the government, reviving an old crisis between producers and…
OCI to spin off construction business and list in Egypt, UAE

OCI to spin off construction business and list in Egypt, UAE

Amsterdam-listed OCI said on Thursday it planned to spin off its construction and engineering business and list it on stock…
Egypt’s stocks gain LE 2.3 billion on Wednesday, while all indexes down

Egypt’s stocks gain LE 2.3 billion on Wednesday, while all indexes down

The Egyptian stock exchange lost ground in Wednesday’s session under pressure from local and foreign institutions purchases, which recorded a net flow…
Egypt’s Beltone Financial plans to raise money for growth

Egypt’s Beltone Financial plans to raise money for growth

Egypt's Beltone Financial has received regulatory approval for a two-stage plan to raise up to 242 million Egyptian pounds ($33.85…
Minister: Cairo to launch collective African free trade agreement soon

Minister: Cairo to launch collective African free trade agreement soon

Egypt soon seeks to sign a free trade agreement composed of the three major African blocks, namely the Common Market…
Centamin cuts gold production forecast at Egyptian mine

Centamin cuts gold production forecast at Egyptian mine

Centamin Plc cut its full-year production forecast for the only gold mine it operates, citing lower grades of the underground…
Govt nears asset restructuring of 125 companies

Govt nears asset restructuring of 125 companies

The government is about to set on a massive restructuring bid targeting the assets of 125 of its companies, which…
Egypt’s OCI to build coal power station on Red Sea coast

Egypt’s OCI to build coal power station on Red Sea coast

Egypt's Orascom Construction, a subsidiary of OCI, has announced plans to build a 2,000 to 3,000 megawatt coal-fired power plant…
Egypt’s cement firms overcome gas shortages by importing coal

Egypt’s cement firms overcome gas shortages by importing coal

Several of Egypt's major cement producers have begun retrofitting their plants to run on energy from imported coal, beating high…
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