Finance News
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Egypt's Qalaa Holdings Q1 net loss widens by 7 pct
Net losses for the first quarter dipped seven percent year on year to reach 231.9 million pounds due to increased charges.
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PM: Egyptian banks to issue 5-year investment vehicles for Suez Canal
The new Suez Canal project will be funded by debt certificates to be issued “in about a week”.
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Austerity measures won't save Egyptian economy
Without any reform, the total deficit would reach 243 billion EGPs ($34 billion), or around 12% of gross domestic product (GDP).
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Faisal Islamic Bank of Egypt selects SunGard risk management solutions
SunGard to help build a new operational framework for improved risk exposure, reporting and Basel compliance.
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Property stocks boost Egypt bourse
The main Egyptian benchmark rose 0.4 percent, its sixth gain in seven sessions, to 9,274 points, bringing its gains to 87 percent.
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CIRF, Rasmala Securities halt evaluations bidding to manage Egypt Post portfo
CIRF and Rasmala Securities both had a technical standard of 93.5% each, while HC and Prime stood at 93.1%.
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Tahya Masr Fund to establish branches abroad, including US: PM
New fund will serve as a charitable foundation that receives donations from the Egyptian community in the United States, says PM’s media adviser.
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Egypt to hold price for local wheat steady -PM
The government purchased wheat for 420 Egyptian pounds ($58.74) per ardeb (150 kg) in the most recent harvest season which ended in June.
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Egypt has potential to grow, but sustainability depends on government: WB
Pace of growth in seven Middle Eastern countries remains “far below” the rates expected in the 2000s, the World Bank indicates.
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Egypt's consumer inflation jumps to 10.6% in July
Annual core inflation rose to 9.35 percent in July from 8.76 percent in June, the central bank said in a statement later on Sunday.
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Barclays contributes EGP3mn to develop slum areas in Egypt
Sherif further stated that Barclays Egypt's board allocated more than EGP 6 million for Corporate Social Responsibility and donations.
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Mobile phones are next generation’s tool for electronic payment in Egypt: VISA
Using mobile phones to make payments requires an infrastructure that is not currently present in Egypt though.
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Egypt foreign reserves rise to $16.736b at end-July
Reserves rose last year when Gulf Arab states gave billions of dollars of aid after the army deposed elected Islamist President Mohammad Mursi.
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Egypt's Juhayna second-quarter profit falls
A 6-percent rise in sales was outpaced by a nearly 12-percent surge in the costs of goods sold, the company said on Wednesday.
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Egypt to pay energy companies via bond sale, Dimian says
Dimian said the government will pay for part of the arrears with savings from a recent reduction in fuel subsidies.
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Ministers to speak at Euromoney Egypt 2014
Euromoney will return to Cairo on the 16 and 17 September for its annual gathering of finance and investment professionals.
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Egypt to float shares in Suez Canal project
Five-hundred million shares in the project will be available to investors at a rate of $14 a share for Egyptians and $100 per share for foreigners.
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UAE and Egypt lead the number of private equity investments in 2013
The UAE and Egypt led the number of investments for the Mena region accounting for 20 per cent followed by Lebanon (18 per cent).
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Mubarak-era tycoon Ahmed Ezz paid all required bails: Lawyer
Farid al-Deeb said Ezz paid a bail of 100 million Egyptian pounds on Monday and that he will be released when all procedures are completed.
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Kerry to Mehleb: We are keen on supporting Egypt
Mehleb also presented the government's plans for economic reform and services, including the construction of a 3,000-kilometer road network.