Business
Egypt imports 30 tons of raw gold a year
February 16, 2015
Egypt imports 30 tons of raw gold a year
Rafik Abbasy, chairman of the gold division of the Federation of Chambers of Commerce, said Egypt imports 30 tons of…
The fluctuating MENA oil prices weighed on the financial activity
February 16, 2015
The fluctuating MENA oil prices weighed on the financial activity
The tumbling oil prices have had a key impact on the MENA region’s financial activity, especially with the failing to…
Egypt’s market loses $1. 2 billion on Monday, EGX30 down 2.4%
February 16, 2015
Egypt’s market loses $1. 2 billion on Monday, EGX30 down 2.4%
Egypt's market incurred losses on Monday's session with the EGX30 closing down 2.04 percent to reach 9,585.92 points recording a…
Orascom to split construction, fertiliser units for separate listings
February 16, 2015
Orascom to split construction, fertiliser units for separate listings
Orascom Construction has started proceedings for the demerger of the company's units with its engineering and construction business to be…
Etisalat’s Egypt unit signs $120 mn loan
February 16, 2015
Etisalat’s Egypt unit signs $120 mn loan
Etisalat's Egyptian telecom subsidiary Etisalat Misr has signed a $120 million three-year loan with HSBC and National Bank of Abu…
Egyptian pound steady officially, strengthens on black market
February 16, 2015
Egyptian pound steady officially, strengthens on black market
Egypt's central bank kept the pound steady at LE7.53 to the dollar at a foreign exchange auction on Monday, but…
Egypt, Cyprus aim for gas import deal in 6 months
February 16, 2015
Egypt, Cyprus aim for gas import deal in 6 months
Egypt and Cyprus have signed a memorandum of understanding on energy cooperation and aim to reach a deal on Egyptian…
Govt considers borrowing in foreign currency
February 16, 2015
Govt considers borrowing in foreign currency
Prime Minister Ibrahim Mehleb has said the government is considering the issuance of investment certificates or bonds in US dollars…
CBE dismisses rumors of amending dollar deposit cap
February 16, 2015
CBE dismisses rumors of amending dollar deposit cap
The Central Bank of Egypt’s (CBE) has denounced rumors that the Bank might amend the recent US$10,000 cap on dollar…
Oil steadies around $61, Kuwait sees prices supported
February 16, 2015
Oil steadies around $61, Kuwait sees prices supported
Oil steadied around $61 (£39.5) a barrel on Monday, holding gains from last week, after Kuwait's oil minister said lower…