Business

Report: Egypt, Saudi Arabia agree to keep kingdom’s investments intact

Report: Egypt, Saudi Arabia agree to keep kingdom’s investments intact

The People’s Assembly Economic Affairs Committee has agreed to uphold all existing contracts governing Saudi Arabia’s US$27 billion in Egyptian…
Government to import 120,000 tons of wheat

Government to import 120,000 tons of wheat

The government on Wednesday signed a contract with the United States and Argentina to import 120,000 tons of wheat to…
Paper: Egypt army sees further drop in FX reserves

Paper: Egypt army sees further drop in FX reserves

CAIRO - Egypt's foreign reserves are expected to fall by more than US$5 billion to $10.4 billion by the end…
Land cargo transport prices rise by 20%, says official

Land cargo transport prices rise by 20%, says official

The prices of cargo transport between governorates rose by 20 percent due to the rise in diesel prices, Ahmed al-Zeiny,…
Damietta authorities foil attempt to smuggle subsidized gasoline

Damietta authorities foil attempt to smuggle subsidized gasoline

Damietta seaport authorities on Wednesday thwarted an alleged attempt by officials from a trade company to smuggle more than 10…
Foot-and-mouth disease traps camels at Sudanese border

Foot-and-mouth disease traps camels at Sudanese border

A decision issued by Egypt’s Agriculture Ministry preventing the transfer of animals across governorates borders to halt the spread of…
Orascom Construction Q4 net falls more than expected

Orascom Construction Q4 net falls more than expected

Egyptian group Orascom Construction reported a 34 percent drop in quarterly net income, missing expectations after being hit by debt…
We rejected an IMF request to devalue the pound by 20%, says official

We rejected an IMF request to devalue the pound by 20%, says official

A senior government official said Monday that the government rejected a request by the International Monetary Fund to devalue the…
Senior Brotherhood member launches Egyptian business association

Senior Brotherhood member launches Egyptian business association

A senior Muslim Brotherhood member and businessman, who at this time last year had just been released from Tora prison,…
Stock market loses LE2 billion at start of Monday trading

Stock market loses LE2 billion at start of Monday trading

Egypt’s stock market fell nearly LE2 billion during the beginning of Monday’s trading session due to mass sales by Egyptian…
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