Business
Damietta LNG plant idled as Egypt keeps its gas at home
February 8, 2013
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
February 7, 2013
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
February 7, 2013
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
February 7, 2013
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
February 7, 2013
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
February 7, 2013
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
February 7, 2013
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
February 6, 2013
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
February 6, 2013
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
February 5, 2013
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…