Business
CBE tells banks to remain watchful of frozen assets
February 14, 2011
CBE tells banks to remain watchful of frozen assets
Bank directors have been ordered to monitor assets frozen in the wake of the popular uprising in Egypt. The order…
Egyptian stock exchange to reopen Sunday
February 14, 2011
Egyptian stock exchange to reopen Sunday
The Egyptian stock market (EGX 30) administration will reopen at the start of next week, rather than on Wednesday as…
Central Bank opens account for economic rescue contributions
February 14, 2011
Central Bank opens account for economic rescue contributions
The Central Bank of Egypt (CBE) announced Sunday the opening of a new government account to receive contributions to support…
Oriental Weavers say shares not owned by Mubarak family
February 14, 2011
Oriental Weavers say shares not owned by Mubarak family
Oriental Weavers Carpets, one of the largest manufacturers of machine-woven rugs in the world, has denied that deposed President Hosni…
New Finance Minister: No change in Egypt’s economic policies
February 13, 2011
New Finance Minister: No change in Egypt’s economic policies
Recently-appointed Finance Minister Samir Radwan said there would be "no change" in the economic policies pursued by his ministry.
European countries may freeze Mubarak’s assets abroad
February 13, 2011
European countries may freeze Mubarak’s assets abroad
A British government minister said on Sunday that there should be an international approach to dealing with the overseas assets…
CBE lengthens money-transfer period to prevent capital flight
February 13, 2011
CBE lengthens money-transfer period to prevent capital flight
The Central Bank of Egypt (CBE) has lengthened the time period required for the transfer of large amounts of money…
Egyptian bank EFG-Hermes says Mubarak stake minor
February 13, 2011
Egyptian bank EFG-Hermes says Mubarak stake minor
Egyptian investment bank EFG-Hermes said on Sunday that Gamal Mubarak's stake in the bank was limited to an 18 percent…
Stock Exchange to freeze shares of officials banned from travel
February 13, 2011
Stock Exchange to freeze shares of officials banned from travel
The Egyptian Stock Exchange today froze all stocks belonging to former ministers, officials and businessmen who have been banned from…
Oil rises above US$87 as Mubarak clings to power
February 11, 2011
Oil rises above US$87 as Mubarak clings to power
Singapore--Oil prices rose above US$87 a barrel Friday in Asia as Egyptian President Hosni Mubarak clung to power amid growing…