Business

Egyptian stocks rebound on EU announcement

Egyptian stocks rebound on EU announcement

The Greek financial crisis, having caused severe disruptions in international markets, is now finally starting to ease as European Union…
Inflation hits 11%, says CAPMAS

Inflation hits 11%, says CAPMAS

Government statistics agency CAPMAS on Monday revealed that the national inflation rate had risen by 0.9 percent in April, compared…
Greek crisis pulls Egypt’s bourse down 5%

Greek crisis pulls Egypt’s bourse down 5%

In reaction to Greece's unfolding financial crisis, the Egyptian stock market's EGX index plummeted by 5 percent on Sunday in…
Egypt to become gas importer for first time in 40 years

Egypt to become gas importer for first time in 40 years

The Ministry of Petroleum has reached a major deal on petroleum exploration and drilling with British Petroleum (BP), in a…
Egyptian billionaire sells dept store

Egyptian billionaire sells dept store

Mohamed Al Fayed, an Egyptian billionaire living in Britain, has sold the Harrods Department Store in London to the Qatar…
MPs, experts challenge draft 2010/11 budget

MPs, experts challenge draft 2010/11 budget

On 3 May, Egypt's Shura Council gave its tentative approval to a draft of the 2010/2011 state budget. Critics, however, say…
US dollar continues to rise against Egyptian pound

US dollar continues to rise against Egyptian pound

The US dollar continued to rise against the Egyptian pound, increasing by 4 piasters over the past week, and 14…
Petroleum expert: Egypt oil and gas may dry up by 2020

Petroleum expert: Egypt oil and gas may dry up by 2020

Egypt's demand for petroleum and gas will reach 103 billion tons annually by the beginning of 2020, the equivalent of…
Merchants decry trade pact with Mercosur

Merchants decry trade pact with Mercosur

Egyptian importers and exporters have raised objections to a trade agreement signed beteen the government and the Mercosur trade bloc--which…
SODIC earmarks LE180mn for internal trade projects

SODIC earmarks LE180mn for internal trade projects

Development and investment company SODIC has earmarked LE180 million for investment in local trade projects over the next three years.Company…
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