Business
Egypt’s market losses LE5.49 billion on Wednesday, EGX30 down 0.59%
February 19, 2015
Egypt’s market losses LE5.49 billion on Wednesday, EGX30 down 0.59%
Egypt's market declined Thursday’s session, with the EGX30 Index down 0.59 percent to record 9,481.20 points on a weak turnover…
Steel factories may halt operations over dollar shortage
February 19, 2015
Steel factories may halt operations over dollar shortage
Several steel manufacturers have revealed that they might stop their productions within the next few days, citing bank’s inability to…
Railways authority losses LE260 million in January
February 19, 2015
Railways authority losses LE260 million in January
Losses of the Egyptian National Railways reached LE260 million (US$33 million) in January, according to Ahmed Hamed, chief of the…
Omar Effendi to start restructuring plan over losses, debts
February 19, 2015
Omar Effendi to start restructuring plan over losses, debts
Omar Effendi will start a restructuring plan Thursday by putting forward 32 branches to partnership with the private sector, while…
Egyptian pound steady in official and black markets
February 19, 2015
Egyptian pound steady in official and black markets
Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Thursday and…
Orascom Construction to raise up to $241 mln in Egypt share offer
February 19, 2015
Orascom Construction to raise up to $241 mln in Egypt share offer
Engineering and building giant Orascom Construction plans to raise as much as $241 million in a sale of new shares…
EDBE, CHD banks excluded from maximum wage rate decision
February 19, 2015
EDBE, CHD banks excluded from maximum wage rate decision
The Administrative Court of the State Council annulled Wednesday the maximum wage rate decision issued by the prime minister for…
Egypt’s GASC cancels tender to buy US wheat due to high prices
February 18, 2015
Egypt’s GASC cancels tender to buy US wheat due to high prices
Egypt's state grain buyer has canceled a tender to buy U.S. origin wheat for arrival on April 10-20, it said…
Egypt’s stock exchange approves CIB $300 million capital increase
February 18, 2015
Egypt’s stock exchange approves CIB $300 million capital increase
Egypt's stock exchange said on Wednesday it had approved a request by Commercial International Bank (CIB) to raise its capital…
Exchange bureaus transfer foreign currency abroad to evade CBE pressure
February 18, 2015
Exchange bureaus transfer foreign currency abroad to evade CBE pressure
After the Central Bank of Egypt stifled exchange bureaus by setting a maximum of US$50,000 for dollar deposits in banks,…