News
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Egypt vehicle sales drop 23 per cent in year to June
Wider drop masks a slight monthly rise, with Egypt's GB Auto expected to see steady sales growth over rest of 2011.
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Egypt's bourse slips on non-Arab selling
For the 7th day in a row, Egyptian were in the red on Wednesday amid low volumes, traders said. Volume totalled LE296 m., according to Bourse data.
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Lecico says some Egypt factories halted by strikes
Egyptian ceramics maker Lecico said on Wednesday a workers strike that began on Tuesday had halted operations at its sanitary ware & tile factories.
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Tweetback raises over LE 1.3 million for Ezbet Khairallah in 10 days
Egypt’s first social media-driven humanitarian fundraising project Tweetback managed to raise over LE 1.3 million in funds for Ezbet Khairallah.
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Egyptian financial experts urge foreign investment, not loans, in uncertain climate
The latest report from the int'l finance institution said that political disorder in Egypt led to the withdrawal of $16 b dollars of foreign capital.
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Egypt’s successful bond sale may fuel further investment
Egypt’s success in selling two-year debt for the first time since February’s popular revolt may encourage foreign investors.
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Nielsen: 72% of Egyptians cut spending in second quarter
A study by global market research company Nielsen has revealed that the Egyptian consumer confidence rate fell from 102 to 92 points.
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US chain Applebee’s eyes Egypt for expansion
Applebee’s has announced plans to grow its brand in the Middle East with the launch of 10 new restaurants in Egypt over the next decade.
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Today: Record date for SODIC's stock split
Today is the record date for reducing the par value of Six of October Development and Investment (SODIC) from EGP 10 to EGP 4.
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Market Report: Egypt trades slow in shadow of Friday protests
The second trading day of the week sees further mild losses as global worries and the prospect of Friday clashes make investors cautious.
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Minimum wage to be announced next month
The Egyptian government will announce minimum wages for all administrative workers in the next month, said Finance Minister Hazem el-Beblawy.
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Egypt's Mobinil posts Q2 net loss of $18.2 mln
Mobinil reported a second-quarter net loss as political turmoil following the toppling of President Hosni Mubarak hit tourism and other businesses.
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Najaf and Cairo chambers of commerce sign agreement
Najaf & Cairo chambers of commerce signed an agreement today to establish a long-term strategic partnership between Egyptian and Iraqi businessmen.
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Dubai's Abraaj drops plan to buy stake in Egypt firm
Abraaj Capital said on Tuesday it has dropped plans to acquire stake in Egyptian private equity firm Citadel Capital.
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Still in turmoil, Egypt loses billions in tourism dollars
Egyptian tourism officials say the country had lost more than $2.6 billion by the end of June.
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Billions lost as EU says no to Egypt agriculture
The European Union said on Monday that they would not accept any Egyptian agricultural products into the continent.
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Egypt must clearly outline its economic policies, says UN economist
Despite a 5-percent decrease of global FDI inflows in 2010, Egypt retained its position as one of the leading FDI recipients in Africa.
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Another brick in the wall
The CBE has kept its overnight rates unchanged for the 15th time in a row. The deposit & lending rates stand at 8.25 and 9.75 per cent respectively.
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Egypt govt to set maximum wage in a month
Finance Minister Hazem al-Beblawy said Tuesday that the government would announce a maximum wage in a month to be applied to all state employees.
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Sinai Cement shareholders OK EGP 3/shr dividend
Shareholders gave a nod to paying dividend at EGP 3 per share, totaling EGP 210 million.