Business

Damietta LNG plant idled as Egypt keeps its gas at home

Damietta LNG plant idled as Egypt keeps its gas at home

The Damietta liquefied natural gas facility in Egypt is not operating due to a lack of feed gas as the…
Egypt, Turkey hope to double bilateral trade, says Morsy

Egypt, Turkey hope to double bilateral trade, says Morsy

Egypt and Turkey plan to double trade transactions between the two countries over the next few years, announced President Mohamed…
Price hikes for food, medicine

Price hikes for food, medicine

The overall index of food prices went up by 1 percent last week, said Osama Sultan of the Federation of…
Microsoft announces new development initiatives in Egypt, Africa

Microsoft announces new development initiatives in Egypt, Africa

The Microsoft Corporation announced a series of new programs aimed at helping unemployed youth, young women entrepreneurs and small and…
After Wednesday losses, stock market starts to rally Thursday

After Wednesday losses, stock market starts to rally Thursday

Stock indexes rose slightly by the end of trading on Thursday, supported by purchases made by Egyptian and foreign investors.…
OIC Summit was costly affair for Fairmont, says source

OIC Summit was costly affair for Fairmont, says source

The Fairmont Heliopolis hotel lost money by hosting the Organization of Islamic Cooperation Summit this week, claimed an anonymous source,…
Faced with Microsoft’s cost, government looks to open-source software

Faced with Microsoft’s cost, government looks to open-source software

As the government struggles to make ends meet, figures both in and outside the government are saying the country could…
Central bank sells $49.6 mn at forex auction

Central bank sells $49.6 mn at forex auction

Egypt's central bank said on Wednesday it had accepted bids worth $49.6 million with a cut-off price of LE6.702 to…
Stock market loses LE3.6 billion Wednesday

Stock market loses LE3.6 billion Wednesday

Egyptian stock prices fell Wednesday as investor fears ratcheted up over Egypt's gloomy economic prospects. Shares had dropped nearly LE3.6…
Authorities looking for revenue boost, says planning minister

Authorities looking for revenue boost, says planning minister

Minister of Planning and International Cooperation Ashraf al-Araby confirmed Tuesday that Egypt’s foreign cash reserves are enough to cover three…
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