News
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Egypt set for loans from Saudi Arabia, UAE soon
Hazem El-Beblawi has added that another $500m should come from the Arab Monetary Fund.
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Egypt's Suez Canal August Revenue $472.9 mln
Suez Canal Revenues are up 5.3 percent from a month earlier, a government portal showed on Saturday.
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Electrolux completes Olympic Group acquisition
Electrolux now owns 98.33% of Olympic Group's shares and intends to offer the remaining minority shareholders the opportunity to sell their shares.
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Tourism officials blast Egypt's new visa restrictions
Two tourism officials have criticized the new government's policy of halting issuing visas for foreign travelers into Egypt.
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U.S. firm makes major oil discovery in Egypt's Western Desert, near Libya
Apache Corp. reported two oil discoveries in Egypt's Western Desert near the border with Libya.
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Egyptians make up 75% of stock transactions
Egyptian investors made up 74.5% of transactions this week, Non-Arab foreigners made up 19.21% of transactions, and Arabs made 6.29% of trades.
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Egypt to build $400 mln sugar refinery
A sugar beet refinery to be built in Port Said at a cost of $400 million will have a capacity of 500,000 tons of sugar a year.
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Egypt says expects growth of 3-3.5 pct in FY11/12
Egypt's planning minister said on Thursday she expected an economic growth rate of 3 to 3.5 percent in the current fiscal year 2011-2012.
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Market Report: Egypt stocks in green on eve of renewed protests
Strong interest in high-cap telecoms shares pushes the main index up 0.59% but Egyptian investors show caution before weekend's demonstrations.
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Ministry of Finance issues 6 bn EGP in T-bills
The Ministry of Finance announced a 6 billion EGP (U.S. $1 billion) sale of treasury bills Thursday.
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Western visitors to Egypt must obtain visas before arrival
Egypt will require visas from all travelers prior to arriving in the country, ending decade-long unrestricted entry.
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EFG closes Egypt's Olympic Grp sale to Electrolux
Mideast investment bank EFG Hermes says it has closed the $404 million sale of Egypt's Olympic group to Sweden's Electrolux Group.
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Egypt ranks 94 in global competitiveness, falling 13 spots
Egypt came in at 94 out 142 countries, receiving a 3.9 rating on a scale of one to seven, while last year it ranked in 81 out of 139.
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Egypt Economy Grew 1.8% in Last Fiscal Year Amid Uprising
Egypt’s economy grew 1.8 percent in the fiscal year that ended June 30, its weakest performance in at least 10 years.
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International auction to search for oil and gas in 15 Egyptian areas
The Egyptian General Petroleum Corporation is preparing to hold an international auction for foreign companies to search for oil & natural gas.
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ESKADENIA Software consolidates its presence in the Egyptian Insurance Market
ESKADENIA planned for deployment at Arab Misr Insurance are fully designed to help, manage and automate the insurance & financial operations.
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Egypt NGO brings recycling to Cairo residents
Gamayit El-Misbah El-Mudii is an innovative initiative in Cairo that provides a free, door-to-door pick-up service for recyclable items.
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Egyptian ministers meet with striking postal unions
Egyptian ministers and postal management were expected to begin meeting with postal unions today to listen to their demands.
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Egypt to Offer Cement Production Licenses in October, Mal Says
Egypt’s Industrial Development Authority will offer 12 licenses for cement production by the end of next month, Al Mal reported.
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Orascom lifted by chief's reprieve
A settlement between Orascom and Egypt's market watchdog announced yesterday nullifies a prison sentence handed down last month against Mr Sawiris.