Economy
US, Europeans promise to clarify doing business with Iran
May 20, 2016
US, Europeans promise to clarify doing business with Iran
The United States and European powers will work to clear up any confusion companies may have about doing business with…
European travel and leisure stocks fall after EgyptAir plane vanishes
May 19, 2016
European travel and leisure stocks fall after EgyptAir plane vanishes
European travel and leisure stocks fell and underperformed a weaker, broader market on Thursday after EgyptAir said a plane carrying…
CBE offers US$120 million to cover pharmaceutical imports
May 18, 2016
CBE offers US$120 million to cover pharmaceutical imports
Egypt's central bank held the pound steady at a regular dollar sale on Tuesday but said the dollars would be…
Egypt cabinet approves long-awaited VAT bill
May 17, 2016
Egypt cabinet approves long-awaited VAT bill
Egypt's cabinet approved "in principle" a long-awaited value added tax (VAT) bill and will refer it to the Council of…
Faced with shortages, Egypt lifts cheap drug prices by 20 percent
May 16, 2016
Faced with shortages, Egypt lifts cheap drug prices by 20 percent
Egypt is raising the price cap on medicines that cost up to 30 Egyptian pounds (US$3.38) by 20 percent in…
Egypt’s unemployment rate eases slightly to 12.7 percent
May 16, 2016
Egypt’s unemployment rate eases slightly to 12.7 percent
Egypt's unemployment rate eased slightly in the first quarter of 2016 to 12.7 percent from 12.8 percent in the previous…
National Bank of Egypt sells $169 mln worth of special certificates
May 16, 2016
National Bank of Egypt sells $169 mln worth of special certificates
National Bank of Egypt, the country's largest state bank, sold 1.5 billion Egyptian pounds (US$169 million) worth of special certificates…
Oil prices jump as Goldman Sachs says market flips into deficit
May 16, 2016
Oil prices jump as Goldman Sachs says market flips into deficit
Oil prices jumped over 1 percent on Monday after long-time bear Goldman Sachs said the market had ended almost two…
PM discusses investment, economic projects with UAE Development Office
May 15, 2016
PM discusses investment, economic projects with UAE Development Office
Prime Minister Sherif Ismail met Sunday with the director of the UAE-funded Development Office in Egypt to discuss future economic…
Egypt’s Pioneers Holding to invest 1.7 bln pounds by end-2016
May 15, 2016
Egypt’s Pioneers Holding to invest 1.7 bln pounds by end-2016
Pioneers Holding, one of Egypt's largest financial services firms, plans to invest 1.7 billion Egyptian pounds ($191.44 million) in Egypt…