Economy

Egypt’s CIB sells 72 pct of investment arm to local, Gulf investors

Egypt’s CIB sells 72 pct of investment arm to local, Gulf investors

Egypt's largest listed lender CIB sold a near-72 percent stake in its investment banking arm CI Capital to Egyptian and…
Egypt accepts six bids for oil and gas exploration

Egypt accepts six bids for oil and gas exploration

Egypt has accepted six bids for oil and gas exploration worth a total investment of up to $200 million, the…
Unemployment drops to 4.6%, lowest since 2007

Unemployment drops to 4.6%, lowest since 2007

America kept hiring amid election shock. The U.S. economy added 178,000 jobs in November, the Labor Department reported Friday, and the…
Banks collect US$4.9 bn in 4 weeks: banking source

Banks collect US$4.9 bn in 4 weeks: banking source

Egyptian banks collected US$4.9 billion from  the currency exchange operations of citizens since the flotation of the pound on November…
Oil prices, US dollar leap on OPEC deal news

Oil prices, US dollar leap on OPEC deal news

Oil prices and energy shares swept higher on Thursday after OPEC agreed to cut crude output to clear a recent…
Egypt’s tourist numbers increased by 7 percent in October – state agency

Egypt’s tourist numbers increased by 7 percent in October – state agency

The number of tourists visiting Egypt increased in October by 7 percent compared to the month before, Egypt's official statistics…
US dollar price exceeds LE18

US dollar price exceeds LE18

US dollar price has exceeded LE18 at four banks which are: Housing and Development Bank (HDB), Commercial International Bank (CIB),…
Oil slip sends dollar, bond yields skidding

Oil slip sends dollar, bond yields skidding

The dollar saw its biggest drop in almost a month on Monday, as a bashing for oil prices on doubts…
Sugar shortage persists, price of kilo reaches LE15

Sugar shortage persists, price of kilo reaches LE15

The sugar shortage crisis continued throughout Egypt's governorates yesterday, as the price of the commodity reached LE15 per kilo.The crisis reached the…
Saudi Arabia wants OPEC to solve own problems before meeting non-OPEC

Saudi Arabia wants OPEC to solve own problems before meeting non-OPEC

Top OPEC oil exporter Saudi Arabia has told the producer group it will not attend talks on Monday with non-OPEC…
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