Egypt pound weaker second day after central bank intervention
CAIRO: Egypt's currency edged weaker on Thursday, but many banks were holding back from large dollar purchases after Tuesday's intervention from the central bank, dealers said. "Trade is very slow,"…
PHD assets intact, resumes operations
CAIRO: Palm Hills Developments confirmed that all of its assets are intact and the company has resumed operation, according to a news release. The company’s management has confirmed that,…
PHD assets intact, resumes operations
CAIRO: Palm Hills Developments confirmed that all of its assets are intact and the company has resumed operation, according to a news release. The company’s management has confirmed that, to…
Despite layoffs and pay cuts, some in tourism support protests
CAIRO: Staff at one of Cairo’s popular downtown hostels, Cairo Stars Hotel, have taken a pay cut and face layoffs with Egypt’s tourism industry devastated by the uncertain security situation…
Egypt, US may make emerging market investors more selective
HOLLYWOOD, Fla.: Investors may be more finicky when it comes to emerging markets after violence in Egypt and stronger US data drove record net redemptions from the sector's biggest exchange…
Telecoms offer cheaper macro play
DUBAI: Cheaper valuations mean Middle East fund managers may increasingly look to single-country telecoms operators as a proxy for domestic economic growth. While traders expect renewed selling on Egypt's bourse…
SocGen may take hit on Egypt ops-KBW analysts
PARIS: French bank Societe Generale may take a near €100 million ($136.5 million) charge on its business in Egypt as the country's economy continues to be rocked by protests, analysts…
Egypt growth may halve, budget gap, inflation to rise
DUBAI: Political turmoil in Egypt may more than halve the Arab country's economic growth this year, push its budget deficit into double digits and weaken its currency, boosting already high…
Culture minister quits Mubarak’s new cabinet
By Dina Zayed and Andrew Hammond /Reuters CAIRO: A minister has resigned from the Egyptian cabinet formed by President Hosni Mubarak in response to an uprising against his rule, a family…
Ezzsteel plants operating, chairman row personal
CAIRO: Ezzsteel, Egypt's largest steel maker, said on Wednesday its plants were operating although not at full capacity and said an investigation involving the chairman would not affect company activity.…