Saturday 19 April 2014
 
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Egypt

Suez Canal March revenues rise 8.5pc

Revenue from Egypt's Suez Canal rose 8.5 percent to $441.9 million in March from $407.4 million in the same month a year ago, Egypt's state information portal said. February revenues stood at $339.3 million, the lowest in

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Egypt central bank 'to keep interest rates on hold'

Egypt's central bank will keep interest rates on hold next Thursday as it balances the need to fight inflation while supporting the currency and stimulating an economy battered by more than three years of upheaval, a Reuters poll showed.

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Egypt tourism revenue drops 43pc in Q1

Egypt's tourism revenues dropped 43 percent in the first quarter of 2014 to $1.3 billion, Adela Ragab, the country's economic adviser to the Minister of Tourism, told Reuters on Wednesday. The tourism sector, which has bee

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Egypt's TMG to distribute first cash dividend

Egyptian property developer Talaat Moustafa Group (TMG) will distribute a cash dividend of around 0.145 Egyptian pound ($0.02) after profits grew in 2013, the company said on Tuesday.   The payment, TMG's fir

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Egypt's Arabian Cement plans IPO

Egypt's Arabian Cement Company plans to hold international presentations from next week aimed at attracting investors to a stock market debut that would be the first in Cairo since the fall of autocrat Hosni Mubarak in 2011. C

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Egypt battles energy crunch with AC import ban

Egypt, grappling with an energy crunch, will enforce a ban on the production and import of air conditioners that can be set lower than 20 degrees Celsius, aiming to reassure citizens and industry hit with power cuts and fuel shortages.

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Egypt in need of more aid, says IMF

Egypt will need further international assistance to put its economy back on track despite receiving huge loans from Gulf states, the IMF said. "Egypt will need financial support which could come from its partners in the Gulf

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Egypt sets aside $1.4bn to buy domestic wheat

The Egyptian government has set aside "around 10 billion Egyptian pounds" ($1.4 billion) to buy wheat from local farmers, the Supplies Minister said, as the world's top wheat importer aims to encourage domestic output and reduce it

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Egypt steps up campaign to control mosques

The Egyptian government has stepped up a campaign to curb Muslim Brotherhood influence over mosques, saying it has licensed more than 17,000 state-approved clerics to give Friday sermons to stop places of worship falling "into the hands of

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Emirates NBD launches in Egypt, opens HO

Emirates NBD, a leading bank in the region, inaugurated the Emirates NBD Egypt head office in Cairo, which also launched its brand during the ceremony. The event was attended by Egypt’s deputy Central Bank Governor Nidal Ass

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