Business

Egypt imports 30 tons of raw gold a year

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

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%

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

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

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

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

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

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

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

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…
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