Business
Foreigners behind stock market bump
February 5, 2013
Foreigners behind stock market bump
Stock indexes climbed slightly on Tuesday thanks to foreign investors, who lead purchasing for a third consecutive session. Foreigners were…
Central Bank: Foreign reserves at 16-year low
February 5, 2013
Central Bank: Foreign reserves at 16-year low
The Central Bank announced on its website Tuesday that foreign reserves had fallen to US$13.613 billion in January, compared to…
Mobinil CEO says industry to face price hikes
February 4, 2013
Mobinil CEO says industry to face price hikes
Mobile phone services are going to get more expensive, and soon, Mobinil's Chief Operating Officer told a group of reporters…
Egypt says to finish revised economy plan
February 4, 2013
Egypt says to finish revised economy plan
Egypt's finance minister has said the government will complete the revision of its economic reform plan this week and invite…
Central Bank takes new measures to prevent pound slide
February 4, 2013
Central Bank takes new measures to prevent pound slide
The dollar dropped against the pound by about eight piasters on Monday after the Central Bank of Egypt (CBE) adopted a…
Central Bank cancels currency auction, to announce new mechanism Monday
February 4, 2013
Central Bank cancels currency auction, to announce new mechanism Monday
Egypt's central bank cancelled an auction of foreign currency on Sunday and said it would announce details of upcoming auctions…
Finance Ministry: State revenues up, but so is inflation
February 4, 2013
Finance Ministry: State revenues up, but so is inflation
State revenues jumped by 31 percent during the first half of the fiscal year 2012/2013, reaching LE153 billion as compared…
As remittances grow, government clambers for more
February 3, 2013
As remittances grow, government clambers for more
As money sent home from Egyptians abroad reaches a record level, President Mohamed Morsy and his government have pinpointed this…
Petroleum Ministry denies rumors of fuel shortage
January 31, 2013
Petroleum Ministry denies rumors of fuel shortage
The country is not experiencing a shortage of gasoline or diesel fuel, the Petroleum Ministry announced on Thursay. In a…
Stock market value up LE2.8 bn Thursday
January 31, 2013
Stock market value up LE2.8 bn Thursday
The local stock market made some gains on Thursday from yesterday's session, with the main EGX30 index up .55 percent.…