Business

Defense Ministry approves tender for gas exploration in Mediterranean

Defense Ministry approves tender for gas exploration in Mediterranean

  The Petroleum Ministry has obtained approval from the Defense Ministry for the Egyptian Natural Gas Holding Company (GASCO) to…
France Telecom acquires 94% of Egypt’s Mobinil

France Telecom acquires 94% of Egypt’s Mobinil

France Telecom acquired 94 percent of Egyptian mobile phone company Mobinil in a tender offer, Egypt's stock exchange said on…
Stock exchange has largest 1-day decline in 2 months on election concerns

Stock exchange has largest 1-day decline in 2 months on election concerns

Egypt's stock exchange made its largest one-day decline in two months on concerns over the presidential election outcome, while most…
Egypt buys 1.1 mn tons of local wheat, supply ministry says

Egypt buys 1.1 mn tons of local wheat, supply ministry says

ABU DHABI — Egypt has bought 1.1 million tons of local wheat so far in the 2011/2012 season despite diesel shortages…
EU wants free trade negotiations to follow Egypt election

EU wants free trade negotiations to follow Egypt election

An annual European Union report issued Wednesday urged Egypt to reach a fair trade agreement similar to those the bloc…
IMF calls on Egypt to solve economic problems that led to revolution

IMF calls on Egypt to solve economic problems that led to revolution

The International Monetary Fund on Tuesday called on Egypt to “look beyond the short term” and to address the economic…
New budget sets 4% growth target

New budget sets 4% growth target

The government aims to achieve a growth rate of between 4 and 4.5 percent during the 2012/2013 fiscal year, said…
Update: Telecom Egypt, GB Auto and Egypt’s Talaat Moustafa Q1 profit climbs

Update: Telecom Egypt, GB Auto and Egypt’s Talaat Moustafa Q1 profit climbs

Talaat Moustafa Group, an Egyptian real estate company, reported a 2.5 percent rise in its net profit in the first…
Orascom Telecom Q1 net profit seen at US$45 mn

Orascom Telecom Q1 net profit seen at US$45 mn

Orascom Telecom (OT) is expected to post a first-quarter net profit of US$45 million on Monday, following a net loss…
Deficit expected to swell with new budget

Deficit expected to swell with new budget

  Prime Minister Kamal al-Ganzouri will hold a ministerial meeting on Saturday to discuss the budget for the coming fiscal…
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