Business

Man killed in Naga Hammadi bread line

Man killed in Naga Hammadi bread line

A young man was killed on Sunday in a fight over a loaf of bread in front of a bakery…
Suez Canal sees highest profit since world crisis

Suez Canal sees highest profit since world crisis

On Friday the Suez Canal achieved its biggest daily income since the start of the world financial crisis in 2008,…
EFG Hermes: 2010 trading in regional markets down by 40%

EFG Hermes: 2010 trading in regional markets down by 40%

A recently issued financial report shows that regional stock markets saw a nearly 50-percent decline in trading during the second…
Cement company requests permission to import gas

Cement company requests permission to import gas

In an unprecedented move, the Egyptian Cement Company has officially demanded permission from the Ministry of Petroleum to import either…
No need to rely on multinationals for oil exploration, USGS advises Egypt

No need to rely on multinationals for oil exploration, USGS advises Egypt

The US Geological Survey (USGS) has advised Egypt not to grant oil exploration concessions--or any share of its oil production--to…
Commodity prices lower inside consumer cooperatives

Commodity prices lower inside consumer cooperatives

The Food Industries Holding Company reported that consumer cooperatives did not raise prices as announced for Ramadan. Prices inside co-ops…
Al-Rayan granted extension on payment of LE900,000

Al-Rayan granted extension on payment of LE900,000

Jailed businessman Ahmed el-Rayan was granted a grace period until Tuesday in order to pay back LE900,000, which he is…
NDP official: Energy subsidy reductions still subject to debate

NDP official: Energy subsidy reductions still subject to debate

The notion of lifting subsidies on energy products remains subject to discussion and debate among representatives of various ministries within…
Ruling party calls for abolishment of petroleum subsidy

Ruling party calls for abolishment of petroleum subsidy

 The energy committee of the National Democratic Party has called for the abolition of the subsidies on petroleum products over…
US attaché: Egypt acts forcefully to replace Russian wheat

US attaché: Egypt acts forcefully to replace Russian wheat

Washington--Egypt's main state wheat buyer is "moving aggressively" to replace 540,000 tones of wheat contracts canceled by Russia's ban on…
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