Business

After Wednesday losses, stock market starts to rally Thursday

After Wednesday losses, stock market starts to rally Thursday

Stock indexes rose slightly by the end of trading on Thursday, supported by purchases made by Egyptian and foreign investors.…
OIC Summit was costly affair for Fairmont, says source

OIC Summit was costly affair for Fairmont, says source

The Fairmont Heliopolis hotel lost money by hosting the Organization of Islamic Cooperation Summit this week, claimed an anonymous source,…
Faced with Microsoft’s cost, government looks to open-source software

Faced with Microsoft’s cost, government looks to open-source software

As the government struggles to make ends meet, figures both in and outside the government are saying the country could…
Central bank sells $49.6 mn at forex auction

Central bank sells $49.6 mn at forex auction

Egypt's central bank said on Wednesday it had accepted bids worth $49.6 million with a cut-off price of LE6.702 to…
Stock market loses LE3.6 billion Wednesday

Stock market loses LE3.6 billion Wednesday

Egyptian stock prices fell Wednesday as investor fears ratcheted up over Egypt's gloomy economic prospects. Shares had dropped nearly LE3.6…
Authorities looking for revenue boost, says planning minister

Authorities looking for revenue boost, says planning minister

Minister of Planning and International Cooperation Ashraf al-Araby confirmed Tuesday that Egypt’s foreign cash reserves are enough to cover three…
Foreigners behind stock market bump

Foreigners behind stock market bump

Stock indexes climbed slightly on Tuesday thanks to foreign investors, who lead purchasing for a third consecutive session. Foreigners were…
Central Bank: Foreign reserves at 16-year low

Central Bank: Foreign reserves at 16-year low

The Central Bank announced on its website Tuesday that foreign reserves had fallen to US$13.613 billion in January, compared to…
Mobinil CEO says industry to face price hikes

Mobinil CEO says industry to face price hikes

Mobile phone services are going to get more expensive, and soon, Mobinil's Chief Operating Officer told a group of reporters…
Egypt says to finish revised economy plan

Egypt says to finish revised economy plan

Egypt's finance minister has said the government will complete the revision of its economic reform plan this week and invite…
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