Business
Illegal use of state land cost Egypt LE78 bn
February 16, 2011
Illegal use of state land cost Egypt LE78 bn
Initial losses incurred from infringements on state land and conversions of desert farm land into tourist resorts have been estimated…
Labor protests prompt CBE to close banks
February 16, 2011
Labor protests prompt CBE to close banks
The Central Bank of Egypt (CBE) decided to close Egyptian and international banks on Wednesday and Thursday due to a…
Egypt’s CIB: Transfers abroad well below estimates
February 15, 2011
Egypt’s CIB: Transfers abroad well below estimates
Egypt's Commercial International Bank (CIB) said on Tuesday the amount of money its clients transferred abroad because of political unrest…
Presidential scion Gamal Mubarak took LE189.45 million in profits from EFG-Hermes
February 15, 2011
Presidential scion Gamal Mubarak took LE189.45 million in profits from EFG-Hermes
Egyptian investment bank EFG-Hermes announced on Sunday that Gamal Mubarak, son of former president Hosni Mubarak, had taken LE189.45 million…
Meat, poultry prices fall, say chambers of commerce
February 15, 2011
Meat, poultry prices fall, say chambers of commerce
Meat and poultry prices have fallen recently, according to a number of reports from chambers of commerce in various Egyptian…
Experts reveal how frozen assets are returned to Egypt
February 14, 2011
Experts reveal how frozen assets are returned to Egypt
Following a request made by the Egyptian Foreign Ministry to the European Union to freeze the assets of several former…
Official report: Egypt’s debts reach LE1080 billion
February 14, 2011
Official report: Egypt’s debts reach LE1080 billion
The Egyptian Central Auditing Organization (CAO) on Monday said the country’s internal and external debts reached LE1080 billion, constituting 89.5…
CBE tells banks to remain watchful of frozen assets
February 14, 2011
CBE tells banks to remain watchful of frozen assets
Bank directors have been ordered to monitor assets frozen in the wake of the popular uprising in Egypt. The order…
Egyptian stock exchange to reopen Sunday
February 14, 2011
Egyptian stock exchange to reopen Sunday
The Egyptian stock market (EGX 30) administration will reopen at the start of next week, rather than on Wednesday as…
Central Bank opens account for economic rescue contributions
February 14, 2011
Central Bank opens account for economic rescue contributions
The Central Bank of Egypt (CBE) announced Sunday the opening of a new government account to receive contributions to support…