Business

Global, local gold prices hit new highs

Global, local gold prices hit new highs

Recent spikes in international gold prices have affected their local-market counterparts, with the domestic price per gram reaching an unprecedented…
Damietta Spinning down LE641 million in FY08/09

Damietta Spinning down LE641 million in FY08/09

The public-sector Damietta Spinning and Weaving Company suffered LE641 million in losses in the 2008/2009 fiscal year, according to a…
Who you callin’ lazy?

Who you callin’ lazy?

In the actual city that never sleeps, 1 am traffic is not an uncommon sight on weekdays. Cairo’s main roads…
Falling OT shares rattle CASE

Falling OT shares rattle CASE

Shares in Egyptian telecommunications giant Orascom Telecom (OT) declined sharply on Wednesday, dragging the entire Cairo and Alexandria Stock Exchange…
Rachid: local economy “survived global crisis”

Rachid: local economy “survived global crisis”

Trade and Industry Minister Rachid Mohamed Rachid said on Tuesday that the global financial crisis was coming to an end…
The Turks are back

The Turks are back

There was a time when Turkish products in Egypt were limited to the Paşabahçe glass products sold door-to-door – and…
Govt mulls cash-in-hand subsidy system

Govt mulls cash-in-hand subsidy system

The government is expected to finalize a proposal to substitute the current ration-card subsidy system with a cash-in-hand system after…
Local mobile-phone market nears saturation point

Local mobile-phone market nears saturation point

Total mobile-phone subscriber numbers in Egypt hit 53.4 million at the end of this year's third quarter, according to statistics…
CAPMAS: National unemployment rate hits 9.3%

CAPMAS: National unemployment rate hits 9.3%

The Central Agency for Public Mobilization and Statistics (CAPMAS) on Sunday announced that Egypt's unemployment rate had reached 9.3 percent…
Tourist numbers don’t add up

Tourist numbers don’t add up

This year could have been a banner year for Egyptian tourism. Cairo International Airport's new Terminal 3 opened in April,…
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