Business

OT agrees not to sell Algeria subsidiary

OT agrees not to sell Algeria subsidiary

Orascom Telecom (OT) said it had agreed to a request by the Algerian government not to sell its Algerian subsidiary,…
Unemployment down to 9.12%

Unemployment down to 9.12%

The Central Agency for Public Mobilization and Statistics (CAPMAS) has announced that the rate of unemployment has dropped to 9.12…
Iron factories to lower prices in June

Iron factories to lower prices in June

Iron factories have reduced the prices of iron for June by around LE300. The average selling price of one ton…
Committee to investigate encroachments on state land

Committee to investigate encroachments on state land

The Central Auditing Organization (CAO), a government oversight organization, will form a commitee to investigate encroachments on state-owned land. The…
Govt raises social expenditure by 29%

Govt raises social expenditure by 29%

The government has increased allocations to social services in the new fiscal year to LE213.2 billion, Minister of Finance Youssef…
Egypt’s OT tells Algeria it will enter Djezzy talks

Egypt’s OT tells Algeria it will enter Djezzy talks

Egyptian mobile firm Orascom Telecom said on Thursday that it told the Algerian government it would negotiate with it over…
Egypt backs subsidy increase, budget impact neutral

Egypt backs subsidy increase, budget impact neutral

Egypt will spend an additional 32 billion Egyptian pounds on subsidies in 2010/11, but the increase will not affect the…
Euro debt crisis stifles Egypt pound NDF market

Euro debt crisis stifles Egypt pound NDF market

The Egyptian pound non-deliverable forwards market has almost ground to a halt in recent weeks as buyers flee risk because…
Egypt stock market down by 6%

Egypt stock market down by 6%

The Egyptian stock market has plummeted abruptly, affected by a downfall in Arab and international markets, which have been plagued…
MP accuses United Bank of corruption

MP accuses United Bank of corruption

Independent member of parliament Gamal Zahran submitted an early day motion to the prime minister and minister of investment about…
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