News
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Egypt's Kabo says production, exports hit by strike
Egypt's El Nasr Clothing & Textile Co (Kabo) said on Thursday a labour strike since Aug. 17 had lost the company production worth 4 million EGP.
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Panamanian cargo ship sinks near Suez Canal
Canal officials said the sinking of the ship "has so far not affected passage through the canal".
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Iraq Signs Agreement With Egypt’s Al Qalaa for Mosul Refinery
Iraq’s Oil Ministry said it signed a preliminary agreement with Egyptian company Al Qalaa to build a 150,000-barrel-a-day refinery.
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Egypt's rates on hold amid concerns about inflation
Egypt's central bank has kept its benchmark interest rates on hold, reflecting continued concern about inflation.
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Mobinil launches postpaid promotion
Mobinil launched a promotion whereby customers who buy a new 'Alo' line bundled with a Huawei or Alcatel mobile phone get bonus on-net minutes.
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Egypt foreign reserves declining
The total reserves of the foreign exchange in the Central Bank of Egypt declined from U.S. $33.3 billion last February to U.S. $25.7 billion in July.
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Row over thorny fuel subsidies in Egypt
Ongoing discussion about a governmental plan to cut subsidies on fuel used for industrial purposes has caused panic in industrial circles.
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African Union secures US$ 380 million from Pledging Conference
Egypt pledged 30 million Egyptian pounds (about US$ 6 million) in kind.
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Wheat Trims Weekly Gain as Egypt Favors Russian Grain Over U.S.
Egypt's General Authority for Supply Commodities bought 300,000 metric tons of Russian and Romanian wheat at a tender yesterday.
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Egypt and Brazil analyse sustainability of jet fuel sourced from sugar cane
Food Industries Holding Egypt agreed in principle with state-run petrochemical companies to launch a project for producing plane fuel.
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Government plans to turn Suez Canal into an international logistics center
A draft law will soon be issued authorizing a major project for the conversion of the Suez Canal into an international logistics center.
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SODIC to buy back 1 m treasury shares
SODIC sent a statement to Egyptian Stock Exchange announcing that it will buy back 1 million treasury shares at L.E 18.
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New meat price controls
Price regulations have been imposed on meat, according to the Ministry of Finance’s website.
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Egypt Misses 1-Year T-Bill Goal for 3rd Week as Yields Rise
Egypt missed its fund-raising target for one-year treasury bills for the 3rd week as the average yield on the securities rose.
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Market Report: Egypt stocks post minor gains amid trade uncertainty
The main index edges up a further 0.25 per cent as speculative investors find ways to make trading profits in a market lacking direction.
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Jordan agrees to negotiate price revisions for Egyptian gas exports
A Petroleum Ministry official said Egypt would make an additional US$250 million in profit under the new agreement.
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Saudi economic support for Egypt stays
Arabia will not halt its economic support of Egypt, Saudi Ambassador to Egypt Ahmed Bin Abdulaziz Qattan said Tuesday.
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Health: Egypt airlifts food, medical aid to Somalia
Field Marshal Mohamed Hussein Tantawy, on Wednesday ordered the immediate airlifting of food and medical aid to famine-hit Somalia.
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Libya and Egypt unrest hurts Hikma Pharmaceuticals
The Jordan-based supplier of branded and generic drugs experienced "unprecedented disruptions in several markets".
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European wheat up after Chicago rise, Egypt tender
Egypt, the world's largest wheat importer, on Thursday bought 300,000 tonnes of Russian and Romanian wheat for two shipments on October & November.