News
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Egypt's Pioneers Holding 9-month net profit up to $51.09 million
Operating revenues for the period were 3.9 billion Egyptian pounds, up from 1.8 billion during the same period last year.
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Souq.com inks deals with Vodafone Egypt, MasterCard
Souq.com has created an opportunity to encourage the Egyptian youth to be connected through its biggest campaign of the year - White Friday.
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Suez Canal nets $1.4bn since inauguration of new waterway
The new waterway of the Suez Canal has achieved revenue of $1.4bn during the last three months following the inauguration of the new canal branch.
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Egypt to complete East Port Said side channel by June 2016
Continued development of the Suez Canal zone expands to East Port Said, in the hope of increasing shipping traffic.
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Egypt gets $100m Saudi Arabia loan for power station
Saudi Arabia will continue to support Egypt in all fields, Qattan said in a statement emphasizing the strength of relations between the 2 countries.
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Tourists will return to Egypt
“Egypt will be able to recover quickly from crisis with its beaches, deserts, and archaeological sites,” says Naoumovitch.
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Initiative to help youth own low cost properties gains momentum
Real estate buyers unite and combine their savings to buy apartments at their actual cost, says campaign founder.
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Egypt's CIB to issue one bonus share for each four held
The bank will increase its capital from its reserves and in return will issue 229.4 million shares in the bonus issue at a value of LE10 per share.
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Egypt's Petroleum Corp, Eni set price for gas from Zohr field
Eni expects to invest between $6 billion and $10 billion to develop the field, with operation scheduled to start in 2017.
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Gas production declines to 4.15bn cubic feet per day
The monthly decline in the production from Egyptian fields is estimated at 100m cubic feet of gas per day.
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As the economy falters, Egypt’s police launch a ‘war on prices’
President Abdel Fattah al-Sisi raised the issue of rapidly inflating prices in a televised public address promising quick action.
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Energy deal boosts plans to export gas to Egypt
BG said in a statement Monday that the field offshore Cyprus "provides a potential source of gas to Egypt."
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Egypt's Stock Market Dips Amid Heavy Selling
The Egyptian stock exchange dropped on Monday, reversing a climb in the first few minutes of trading, with retreats across its three main indices.
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Siemens-led consortium reaches financial close agreement for Egypt power plant
The power plants will be located in Burullus on the north coast, the planned administrative capital east of the country and Upper Egypt's Beni Suef.
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Egypt loses 850,000 mobile phone subscribers
Mobile penetration rates in Egypt shrank to 107.47 percent at the end of August 2015, compared to 112.19 percent for the same period last year.
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Egypt's GB Auto urges support for industry to avert future crisis
Egypt needed to rethink wider economic policies and focus on encouraging manufacturing, which can dampen dollar demand and bring in foreign currency.
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$500m of foreign partners’ dues to be paid by the end of 2015
Ministry of International cooperation to assist Ministry of Petroleum with a share of the African Development Fund loan.
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Egypt to showcase Suez Canal Area Development projects at February conference
The Suez Canal Authority is in charge of the zone until the new authority is fully formed.
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Egypt’s market loses $268m in week
EGX market capital lost EGP2.1 billion ($268 million) to hit EGP423.1 billion, compared to EGP425.2 billion last week.
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Major losses for air transport in Egypt
Air transport agents expect major losses after banning transport of goods on passenger aircrafts.Over 157 air transport companies work in Egypt.