Egypt reserves slip, analysts see slowing outflows
CAIRO: Egypt's net foreign reserves slipped to $25.71 billion in July but economists said there was a slowdown in the rate of the decline which may now suggest the worst…
Mobile phone May subscriptions up 28 pct
CAIRO: The number of mobile phone subscriptions in Egypt rose to 74.77 million in May, up 28 percent year-on-year, government figures showed on Saturday. In April the number of mobile…
Hamas, Fatah bid to seal reconciliation in Cairo
CAIRO: Rival Palestinian groups Fatah and Hamas opened talks Sunday in Egypt aimed at implementing a reconciliation agreement struck in May, state news agency MENA reported. The two sides held…
Abu Dhabi Islamic Bank gets Qatari branch approval
DUBAI: Abu Dhabi Islamic Bank has got the go-ahead from Qatar to open an Islamic branch there, a move analysts said could prompt other Islamic lenders in the region to…
AngloGold says Sudan sanctions may hurt South
JOHANNESBURG: AngloGold Ashanti , the world's third-largest gold producer, is interested in the potential for exploration in newly independent South Sudan, its chief executive said on Thursday. But Mark Cutifani…
Turkey, Egypt top buyers of Russian grain in July
MOSCOW: Turkey and Egypt, the top two buyers of Russian grain for the past five years, bought the most grain from the Black Sea powerhouse in July after Russia's export…
The opportunity for e-commerce in Egypt’s tourism sector
CAIRO: It’s no secret that the payment card industry has experienced great strides in innovation in recent years. The advent of mobile banking and growth of e-commerce are just two…
Apache quarterly profit up, tops Street
HOUSTON: Apache Corp reported a better-than-expected 40 percent increase in quarterly profit on Thursday, fueled by record oil and natural gas production and higher crude prices. Shares of Apache, which…
Activists mourn Abbaseya protester’s death
CAIRO: Hundreds of protesters gathered in front of Omar Makram Mosque in Tahrir Square after Friday prayers to attend a symbolic funeral for Mohamed Mohsen, 24, who passed away Wednesday…
Rejected by Alexandria, new governor welcomed by majority in Qena
CAIRO: Most residents of the Upper Egyptian city of Qena welcomed the decision to appoint Adel Labib as the governor for the second time, while others called for a new…