News
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GM closes Egypt plant due to violence
General Motors has closed its operations in Egypt indefinitely because of violence in the country.
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Egypt bonds jump as violence stokes fears for economy
The yield of Egypt’s international bond maturing in 2020 has climbed from 8.1 per cent earlier this week to a five-week high of 8.85 per cent.
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Shell closes Egypt offices, curbs business travel there
Shell gave no details on how many staff were affected by the closures nor where the offices were located.
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Oil prices rise after Egypt bloodbath
Traders fear the bloody unrest in Egypt could hit crude shipments through the Suez Canal and Sumed Pipeline.
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Egypt seethes under curfew after hundreds killed
The clashes spread quickly, and a health ministry official said about 300 people were killed and more than 2,000 injured.
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Chaos forces Egypt to shut down banks, stock exchange
The Egyptian EGX 30, the country’s benchmark stock market index, dropped 1.70% to 5549.19 on Wednesday.
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Economy to improve: NBE Chairman
The economy has the potential for growth in the coming months, says Chairman of the National Bank of Egypt.
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Egypt’s GB Auto profits nearly wiped out by political, economic crisis
Egypt’s sole dealer of Hyundai and Mazda passenger cars said net income tumbled by nearly 73 percent to 16.1 million Egyptian pounds.
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Tourism revenues hit LE1 million over Eid: minister
The total income from tourism during Egypt's Eid vacation hit LE1 million, said Minister for Antiquities Affairs, Mohamed Ibrahim.
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Fuel card system second phase underway - Finance Ministry
The government launched a new website at www.esp.gov.eg to receive applications for smart cards.
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Political revolt leaves Egyptian economy struggling
Government expenditure has risen 45%, taxes 28% and subsidies 79% since the Egyptian revolution, according to a new report.
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Egypt could turn $5.4-billion petroleum debts into bonds
According to the EGPC, the debts owned by International oil companies reached around $5.4 billion by the end of June.
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CBE: Egypt’s Core Inflation Rate Climbs 1.04% By July-End
Urban consumer inflation measure surged to 0.86% by the end of last July, therefore the annual overall inflation rate has edged higher to 10.28%.
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Some Egypt businesses thrive despite economic downturn
For many in the food production, building supply and other businesses, even though the economy may have slowed, people keep demanding services.
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World's largest container ship crosses Egypt's Suez Canal
Egypt sees Maersk McKinney Moller, the world's largest container ship, pass through crucial waterway Suez Canal.
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Egypt's Suez Canal sees record amount of cargo
68 ships crossed the canal on Friday, with a total load of 4.8 million tons.
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U.S. to reopen 18 of 19 foreign posts closed amid security concerns
A worldwide alert said that al Qaeda could be planning attacks in the Middle East and North Africa.
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New head of Egypt's largest public bank appointed
The post of chairman has been vacant since January after Tarek Amer, who headed the bank for five years, submitted his resignation.
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Foodstuff prices rise in Egypt
CAPMAS attributed the rise to increases in foodstuff prices.
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Over 11,000 tourists arrive to Egypt's Hurghada
International and domestic tourists in large numbers are celebrating the Eid Al-Fitr holiday in the Red Sea city of Hurghada.