GB Auto Q1 net falls, but beats forecasts
CAIRO: Egypt's GB Auto's quarterly earnings beat analyst forecasts as passenger car sales in Iraq helped offset lower sales in its home market, hit by the political turmoil that brought…
Damac to take Egypt to international court
CAIRO: Damac Properties rejected on Wednesday an Egyptian court ruling, which annulled its Gamsha Bay land contract, and plans to seek international arbitration. “There has been a gross miscarriage of…
PM to discuss Nile water in Africa visits
CAIRO: Egyptian Prime Minister Essam Sharaf departed on Wednesday for visits to Uganda and Ethiopia that will be dominated by the talks on sharing the Nile River, which has been…
Bus crash kills 12 pilgrims headed to Mecca
AL-ARISH: Police say a bus carrying Egyptian pilgrims to Mecca and a van collided head-on, killing 12 people and injuring three others. A police officer said the accident occurred Thursday…
Unified law for building houses of worship to be drafted, says Cabinet
CAIRO: A unified law for building houses of worship will be drafted and a law criminalizing the use of religious slogans in electoral campaigns will be activated, the Cabinet said…
Here comes the sun (and wind) energy
By Amira Salah-Ahmed CAIRO: “The potential of solar energy in Egypt is virtually unlimited,” Paul van Son, CEO of Desertec Industrial Initiative (Dii), told Daily News Egypt. “You have vast areas…
Credit Agricole Egypt Q1 net drops 46 pct
CAIRO: Credit Agricole Egypt said on Wednesday its consolidated first-quarter net profit fell 46 percent to LE 58.7 million ($9.9 million), well short of analyst forecasts. The bank, owned 60…
Egypt’s OCI Q1 profit rises, upbeat on demand
CAIRO: Egypt's Orascom Construction (OCI) reported a 77 percent jump in first-quarter net profit on Wednesday and said it was confident infrastructure spending would accelerate despite political turmoil in the…
Egypt has 4 months wheat stocks, GASC says
CAIRO: Egypt, the world's biggest wheat importer, said on Wednesday it had stocks of imported wheat to last for about four months, and even longer if the upcoming local harvest…
Jordan agrees to new price for Egypt gas: paper
CAIRO: Jordan has agreed to a new price for the gas that it imports from Egypt, a step that may help Cairo as it negotiates a higher price for its…