News
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Egypt - A major player in information economy
A recent report by the UN Conference on Trade and Development stated that Egypt “is poised to emerge as a major player in the information economy”.
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Sharjah Ruler pledges to rebuild gutted Egyptian Scientific Academy
Sultan bin Mohammed Al Qassimi has pledged to rebuild the Scientific Complex in Cairo that was partially destroyed by fire during the recent riots.
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Egypt Says Quarterly Balance of Payments Deficit $2.4 Billion
Egypt’s balance of payments in the first quarter of the fiscal year which started in July recorded a $2.4 billion deficit.
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Market Update: Egypt’s main index closes down by 2.5 pct
Egypt's main EGX30 index closed Tuesday with a 2.5 per cent tumble, recording 2,706.30 points; a low total turnover of LE 183.3m.
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Egyptian Pound Gains After Orascom’s Plan to Sell $300 Million
The Egyptian pound gained after Orascom Construction Industries said it will sell dollars to repay bonds in local currency.
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Egypt cbank accepts repos worth 17.92 bln Eg pounds
Egypt's central bank accepted 17.915 billion Egyptian pounds in seven-day repurchase agreements in the money market on Tuesday.
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Egypt’s economy stretches to breaking point
The housewives & breadwinners stepping out of a Cairo supermarket with bags of groceries agreed on one thing. “The prices are very high.”
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Anonymous takes down key government websites in Egypt once again
It appears that Anonymous is currently in the process of taking down as many governmental Egyptian websites as it can.
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Egypt Cabinet approves budget savings for 2011/12
Savings of LE20-22 billion to include maximum wage in government and public sectors, and tax rise on imported cigarettes.
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Samsung launches Galaxy Note in Egypt
Samsung Electronics, a leader in mobile technologies, has launched the 5.3-inch HD Super Amoled display Galaxy Note smartphone in Egypt.
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Egypt Offers $3.3 Billion in Repo Bids for Second Week
The Egyptian central bank is offering 20 billion pounds ($3.3 billion) in repurchase agreements, or repos, for the second straight week.
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Egypt to reduce spending in bid to offset budget deficit: report
Egypt, which is facing daily riots and chaos, has announced it is going to cut back on its spending to help ease a budget deficit.
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Ganzouri seeks reclaiming 1.1 million feddans in Sinai
Prime Minister Kamal el-Ganzouri held a meeting of the ministerial committee concerned with the development of Sinai.
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iPhone 4S launches in Egypt from EGP 5,199
Mobinil is charging EGP 5,199 for the 16GB model, EGP 5,999 for the 32GB version and EGP 6,999 for the 64GB phone.
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Egypt cbank to offer 20 bln Eg pounds in repos
Egypt's central bank said it would offer 20 billion EGP in seven-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.75%.
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Egyptian-Sudanese Nile Water Authority to Meet in Cairo Tuesday
The Joint Nile Water Permanent Technical Committee is to convene its meeting in Cairo during the period December 20-22 this year.
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Egypt gets $270 million support from Arab Monetary Fund
Egypt will receive US$270 million to support its budget from the Arab Monetary Fund this month.
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Abu Dhabi's Burooj in on Cairo project
Palm Hills has hired Orascom Construction to build a US$93 mln residential complex outside Cairo, its first project in a partnership with Burooj.
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Egyptian-American group to lobby Congress
An Egyptian-American group intends to lobby the U.S. Congress to stop providing financial support to the Egyptian military.
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A tweet by Saudi Prince AlWaleed worths $300 million
Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, through his investment firm Kingdom Holding Co., has dropped $300 million into Twitter.