News
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Suez Cement net profit down 61.8% YOY in 1H of 2015
On a quarterly basis, net profit for the second quarter (Q2) marked EGP 60.9m, down from EGP 142.5m in Q2 of 2014, the company said.
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Egypt's trade deficit grows 52.7% in April
Egypt's inflation accelerated after the government decided to cut subsidies in July 2014, increasing fuel prices by as much as 78 percent.
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Specialised ministerial units to follow up on projects funded through grants and loans
The units aim at removing any obstacles that prevent the execution of projects, says cabinet spokesman.
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Egypt army says it receives first French Rafale warplanes
The spokesman for Egypt's military says it has received the first three French Rafale warplanes ordered as part of a deal last February.
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Second international bid to supply 45 LNG shipments until end of 2016
Deadline for receiving offers from companies is end of July, says EGAS Chairman.
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Egypt to complete new Suez Canal project at end of week
The government will fund the opening ceremony on 6 August through donations from the public and contributions from participating dredging companies.
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Egypt is poorer than other Arab Spring countries
Egypt ranks 109th globally in world’s wealthiest/poorest countries list, with GDP per capita being equivalent to $6,650.
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Italian Eni discovers gas reserves in Egypt's Nile Delta
Eni discovers up to 15 bn cubic metres of gas in Egypt, the Petroleum ministry announces.
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Egypt, Italy to sign MOUs on energy deals
On a 3 day visit Egyptian Prime Minister will also meet top officials and businessmen on developing new centre for furniture manufacture in Damietta.
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Canadian drug maker to acquire Amoun
The possible deal is the latest of a series of acquisitions by Valeant, which bought Salix Pharmaceutical in April.
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Egypt's EGAS to buy 45 cargoes of LNG
The deadline for submitting for the bid is 27 July, Egypt's state media quoted Reuters.
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Egypt completes dredging for new waterway in Suez Canal
Egypt planned mega projects to expand the Suez Canal and to build an industrial hub and a supplies and logistics center in the vicinity of the canal.
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7 reasons led to CBE’s EGP devaluation against dollar in 2 days
Limiting imports and attracting foreign investments are main reasons for making this decision.
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Egypt's Juhayna says Q2 net income rises 64 pct
The company's revenue rose 16 percent to 1.1 billion pounds in the second quarter, it said in a statement.
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Cabinet cancels decision to ban cotton imports
Greece had threatened to ban Egyptian exports if cotton imports are banned.
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Egypt's Beltone Financial to seek $25.5 mn in August share sale
Head of investor relations: Beltone would offer shares from Aug. 2 until Aug. 31 on the Egyptian exchange.
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Kuwait bank NBK targets Egypt growth
NBK originally bought into the North African country in 2007 and now has around 30 branches mostly in Cairo and Alexandria, according to its website.
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Egypt's market continues to rebound following Moody's report
Benchmark index, EGX30, increased 2.55 percent to register 7,882 points and daily stock turnover reached LE496 million.
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Moody's upgrades Egypt's banking system's outlook to stable
Moody's expects those changes to lead to rising consumer confidence and more business investments, which would increase loan growth from banks.
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Egypt’s economy exceeds expectations in 2014-2015
The Egyptian economy has beaten the most optimistic forecasts during 2014-2015 despite the challenges it faced.