Business

Tourism minister: Tourism nearing pre-revolution rates

Tourism minister: Tourism nearing pre-revolution rates

Tourism in Egypt was down 19 percent in the last three weeks of July compared to the same period last…
Turkey, Egypt top buyers of Russian grain in July

Turkey, Egypt top buyers of Russian grain in July

MOSCOW--Turkey and Egypt, the top two buyers of Russian grain for the past five years, bought the most grain from…
Departure of Mubarak raises hopes of tourism boom in Sharm el-Sheikh

Departure of Mubarak raises hopes of tourism boom in Sharm el-Sheikh

Tourism officials are expecting a rise in tourist numbers in Sharm el-Sheikh following the departure of former President Hosni Mubarak…
New investors force cement companies to reduce prices

New investors force cement companies to reduce prices

New investors in the cement business, especially Arish Cement, which is owned by the Egyptian armed forces, have forced several…
Lecico says strikes end at its Egypt factories

Lecico says strikes end at its Egypt factories

Egyptian ceramics maker Lecico said on Thursday the workers' strike at its Khorshid plants in Alexandria, which had caused a…
Mobinil expects low third-quarter earnings due to boycott

Mobinil expects low third-quarter earnings due to boycott

  The Egyptian Company for Mobile Services (Mobinil) expects lower third quarter revenues as a result of the recent boycott…
Govt reaches deal with Iraq over ‘yellow remittances’ debt

Govt reaches deal with Iraq over ‘yellow remittances’ debt

Egypt and Iraq have reached a final settlement on the money Iraq owes to Egyptian expatriates who returned home during…
Egypt’s Citadel shareholders back rights issue

Egypt’s Citadel shareholders back rights issue

Shareholders in Egyptian private equity firm Citadel Capital have approved a LE1.05 billion ($176 million) rights issue, the company said…
Omar Effendi workers threaten to sue PM over court order

Omar Effendi workers threaten to sue PM over court order

Workers of the Omar Effendi department store chain on Wednesday sent Prime Minister Essam Sharaf a request to implement a…
Gas supply company owes Egypt millions, says government source

Gas supply company owes Egypt millions, says government source

Eastern Mediterranean Gas (EMG), the company supplying Israel with natural gas from Egypt, owes the Egyptian Natural Gas Holding Company…
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