Business

Egypt holds crude oil tender for first quarter 2013

Egypt holds crude oil tender for first quarter 2013

The Egyptian General Petroleum Corporation launched a tender for the purchase of 6 million barrels of oil, or 2 million…
Egypt to close loan deal with African Development Bank

Egypt to close loan deal with African Development Bank

The African Development Bank has tentatively agreed to provide Egypt with US$2.5 billion over the next two years, which coincides…
Stock exchange gains LE8 billion despite Tuesday protests

Stock exchange gains LE8 billion despite Tuesday protests

Stock indexes jumped collectively Tuesday after an intense round of purchases by foreign and Arab investors, despite the “Final Warning”…
Minister: New iron import fees will drive up steel prices, but protect local industry

Minister: New iron import fees will drive up steel prices, but protect local industry

The Industry and Trade Ministry is planning to raise fees on iron imports in order to protect local industry, said…
Saudi Development Fund lends Egypt US$230 million

Saudi Development Fund lends Egypt US$230 million

Prime Minister Hesham Qandil attended the final signing ceremony of three loan agreements granted to Egypt, totaling US$230 million, from…
Finance Ministry: LE500 million sold in bonds

Finance Ministry: LE500 million sold in bonds

The Finance Ministry has sold LE500 million in 3-year treasury bonds (due to mature on 9 October 2015), it announced…
Govt prepares law on Islam-friendly bonds

Govt prepares law on Islam-friendly bonds

The Egyptian Financial Supervisory Authority has said it is drafting a new law that would allow the use of sukuk,…
PM: Government restored LE20 bn by resolving disputes with companies

PM: Government restored LE20 bn by resolving disputes with companies

The government has resolved disputes with 46 companies, gaining about LE20 billion for Egypt, Prime Minister Hesham Qandil said during…
Egypt bourse to join new Pan-African Index

Egypt bourse to join new Pan-African Index

Egypt’s listed companies will join the new Pan-African Index when it goes live Monday, which will encompass 19 stock exchanges…
Carrefour in negotiations to acquire Metro and Kheir Zaman supermarkets

Carrefour in negotiations to acquire Metro and Kheir Zaman supermarkets

The French retailer Carrefour has begun negotiations to acquire Metro Markets Trading and Distribution, the retailer owned by the Egyptian…
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