Economy

Kuwait’s Al Ahli gets Egypt regulatory nod to buy Piraeus unit

Kuwait’s Al Ahli gets Egypt regulatory nod to buy Piraeus unit

 Kuwait's Al Ahli Bank received approval from the Egyptian Financial Supervisory Authority (EFSA) to acquire a controlling stake in Piraeus…
Govt: Tourism up 4.4% in June

Govt: Tourism up 4.4% in June

Tourism to Egypt increased by 4.4 percent in June, according to a government report which said the number surged from…
Central bank: Egypt to issue 600 mn euro 1-year T-bill

Central bank: Egypt to issue 600 mn euro 1-year T-bill

Egypt will issue a 1-year treasury bill worth 600 million euros to local and foreign financial institutions on Aug. 25,…
Egypt’s market loses LE8.5 billion on Wednesday, EGX30 down 2.1%

Egypt’s market loses LE8.5 billion on Wednesday, EGX30 down 2.1%

Egypt's market extended its heavy losses on Wednesday's session, as the benchmark EGX30 index fell 2.13 percent, recording 7,240.77 points…
MIDEAST STOCKS: Saudi stabilises, Egypt falls further

MIDEAST STOCKS: Saudi stabilises, Egypt falls further

Saudi Arabia's stock market appeared to be stabilising in early trade on Wednesday but Egypt's bourse fell further after moving…
Statement: Oriental Weavers denies monopolistic practices

Statement: Oriental Weavers denies monopolistic practices

Oriental Weavers, the world's biggest machine-woven carpet maker, said on Wednesday it was not engaging in monopolistic practices, a day…
Egypt watchdog accuses Oriental Weavers of monopolistic practices

Egypt watchdog accuses Oriental Weavers of monopolistic practices

Egypt's competition watchdog has accused carpetmaker Oriental Weavers of "monopolistic practices" and has referred it to the public prosecutor.It could…
Government to sell gold medals commemorating new Suez Canal

Government to sell gold medals commemorating new Suez Canal

The Finance Ministry’s public treasury issued gold medals commemorating the new Suez Canal last week that have been minted by the…
Egyptian pound steady at official auction, exchange bureaus

Egyptian pound steady at official auction, exchange bureaus

Egypt's central bank kept the pound steady at 7.73 per dollar at a foreign exchange auction on Tuesday, and the…
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