Business
Stock market gains US$123 million in a week
January 23, 2013
Stock market gains US$123 million in a week
The stock market rose this week by US$123 million amid a weak performance as investors fear consequences of the upcoming…
Allianz to maintain Egypt operations despite economic, political situation
January 22, 2013
Allianz to maintain Egypt operations despite economic, political situation
Amid a harsh climate for foreign investment, German insurance company Allianz said it is not considering leaving the Egyptian market…
Emirati producer to create beet sugar plant in Egypt
January 22, 2013
Emirati producer to create beet sugar plant in Egypt
Al-Ghurair Group, an Emirati sugar producer, is creating a project in Egypt for the production of high quality sugar from…
Official: Tourism should recover in 2013
January 21, 2013
Official: Tourism should recover in 2013
Egypt received 11 million tourists in 2012 and aims to boost that number to 14 million in 2013. Tourism Ministry…
Sawiris’ OCI looks to move outside Egypt, and its stocks may follow
January 20, 2013
Sawiris’ OCI looks to move outside Egypt, and its stocks may follow
Orascom and a group of American investors, among them Microsoft giant Bill Gates, have set into motion a transaction set…
Finance minister: economic reform provides state budget with LE31.2 billion
January 20, 2013
Finance minister: economic reform provides state budget with LE31.2 billion
Finance Minister Morsy Hegazy said that with the government’s economic reform program the Egyptian economy will be able to overcome…
Central bank offers $75 mn at currency auction
January 17, 2013
Central bank offers $75 mn at currency auction
The Central Bank of Egypt offered $75 million to banks on Thursday at its 11th foreign currency auction, the same…
Egypt, Qatar ministers continue talks on investment projects
January 17, 2013
Egypt, Qatar ministers continue talks on investment projects
The Qatari Finance Minister Youssef Hussein Kamal met with Egyptian Minister of Investment Osama Saleh on Thursday to discuss joint…
Central Bank: US$5 bn in foreign investments left Egypt in six months
January 16, 2013
Central Bank: US$5 bn in foreign investments left Egypt in six months
A total of US$5 billion in foreign investments left Egypt during the last six months, the Central Bank of Egypt…
Cabinet approves Islamic bonds draft law
January 16, 2013
Cabinet approves Islamic bonds draft law
The Cabinet approved a draft law on Islamic bonds after it was approved by other institutions, Finance Minister Morsy Hegazy…