Business
Hermes managing director considers returning to Egypt to face stock market manipulation charges
May 31, 2012
Hermes managing director considers returning to Egypt to face stock market manipulation charges
Hassan Heikal, managing director of the Hermes financial group who is currently outside the country, received a call from a…
Egypt’s EFG defends execs against graft charges
May 31, 2012
Egypt’s EFG defends execs against graft charges
Egyptian investment bank EFG Hermes on Thursday said it would defend its two chief executives against accusations of illegal share…
Political turmoil drops Egypt’s Sewedy Q1 net profit to 43.8%
May 30, 2012
Political turmoil drops Egypt’s Sewedy Q1 net profit to 43.8%
Egypt's El Sewedy Electric, the Arab world's biggest listed cable maker, on Wednesday reported a 44-percent drop in its 2012…
Economic situation endangered with polarized presidential run-off
May 30, 2012
Economic situation endangered with polarized presidential run-off
The success of two polarizing figures in Egypt's presidential election could make it harder to put in place an effective…
Mubarak sons face charges over stock market fraud
May 30, 2012
Mubarak sons face charges over stock market fraud
Egypt's stock market lost the day's gains after news that the two sons of the country's ousted president will face…
Finance Ministry provides additional funding for wheat, petroleum subsidies
May 30, 2012
Finance Ministry provides additional funding for wheat, petroleum subsidies
Finance Minister Momtaz al-Saeed decided to provide the Ministry of Supply and Internal Trade with LE1 billion to disburse payments…
Stock exchange continues decline on election anxieties
May 29, 2012
Stock exchange continues decline on election anxieties
Egypt's benchmark share index dropped 1.1 percent to a six-week low after an arson attack on the headquarters of…
Central Bank demands restructuring of energy subsidies
May 29, 2012
Central Bank demands restructuring of energy subsidies
The deputy governor of the Central Bank of Egypt has called for the restructuring of energy subsidies, which are a…
Defense Ministry approves tender for gas exploration in Mediterranean
May 27, 2012
Defense Ministry approves tender for gas exploration in Mediterranean
The Petroleum Ministry has obtained approval from the Defense Ministry for the Egyptian Natural Gas Holding Company (GASCO) to…
France Telecom acquires 94% of Egypt’s Mobinil
May 27, 2012
France Telecom acquires 94% of Egypt’s Mobinil
France Telecom acquired 94 percent of Egyptian mobile phone company Mobinil in a tender offer, Egypt's stock exchange said on…