Economy

Egypt’s EFG Hermes to reduce capital to LE3.07 bn

Egypt’s EFG Hermes to reduce capital to LE3.07 bn

 Egypt's EFG Hermes, one of the Middle East's largest investment banks, will reduce its capital by LE184.782 million ($23.61 million)…
Egyptian pound steady at dollar sale, weaker on parallel market

Egyptian pound steady at dollar sale, weaker on parallel market

 The Egyptian pound was held steady by the central bank which sold $37.8 million at a cut-off price of LE7.7301…
Oil edges up on strong demand, but Asian slowdown prevents further rise

Oil edges up on strong demand, but Asian slowdown prevents further rise

Crude oil prices edged up on Thursday as demand was estimated to have risen in the first half of the…
Euro zone inflation turns negative, putting ECB in corner

Euro zone inflation turns negative, putting ECB in corner

Euro zone inflation turned negative again in September as oil prices tumbled, raising pressure on the European Central Bank to…
Egypt to search for oil in Iraq in first foreign venture

Egypt to search for oil in Iraq in first foreign venture

Egypt will search for oil outside its own borders for the first time after signing an agreement with Kuwait Energy…
Egypt’s market gains LE680 mn on Wednesday, indexes mixed

Egypt’s market gains LE680 mn on Wednesday, indexes mixed

Egypt's stock market ended its Wednesday session with a mixed performance, as the benchmark EGX30 index inched up 0.02 percent,…
Funding of real estate projects increased by 82% in 2015: EFSA head

Funding of real estate projects increased by 82% in 2015: EFSA head

The funding provided for real estate projects since the beginning of January 2015 until the end of August increased by…
Mideast funds heavily favor UAE equities in region: survey

Mideast funds heavily favor UAE equities in region: survey

Middle East fund managers favor United Arab Emirates stock markets over other bourses by a large margin as the region…
Egyptian pound steady at dollar sale, stronger on parallel market

Egyptian pound steady at dollar sale, stronger on parallel market

The Egyptian pound was held steady by the central bank which sold $37.8 million at a cut-off price of LE7.7301…
Egypt’s market loses LE1.4 bn on Tuesday, EGX30 declines 1.1%

Egypt’s market loses LE1.4 bn on Tuesday, EGX30 declines 1.1%

Egypt's market closed in the red zone during Tuesday's session, as the benchmark EGX30 index declined 1.05 percent to 7,331.53…
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