Run on German coach’s ‘lucky’ World Cup sweater
BERLIN: Football-mad Germans have snapped up the "lucky" blue cashmere sweater that German coach Joachim Loew gives partial credit for his side's World Cup winning streak, a retail chain said…
Sewedy says no agreement with Ethiopia over industrial zone
El Sewedy Cables has not reached any initial agreement with the Ethiopian government about establishing an industrial zone, said investor relations manager Ahmed El-Homosany, Al-Masry Al-Youm reported. The…
Egypt’s foreign reserves reach $35.2 bln at end-June
Egypt's net foreign reserves inched up to $35.22 billion in June, from $35.1 billion a month earlier, the Central Bank of Egypt said on its website on Wednesday. …
CBE lowers cash cover from importers to minimum 50 pct
The Central Bank of Egypt (CBE) reduced the cash cover requirement that importers have to provide to banks to finance their import transactions from 100 percent to 50 percent,…
Bahrain’s Ahli United boosts stake in Egypt bank
Bahrain's Ahli United Bank has increased its stake in Ahli United Bank Egypt to 85.1 percent from 79.6 percent, Egypt's bourse said on Tuesday. The Bahraini bank, which…
Suez Canal June revs at $383.7 mln
Egypt's Suez Canal revenues rose 10 percent year-on-year to $383.7 million in June but fell from May, a state website showed on Tuesday. Some 1,482 vessels passed through…
Egypt real estate attractive, SODIC shines: Deutsche
Egypt's real estate sector is an attractive long-term prospect in an acutely undersupplied market, Deutsche Bank said in an initiation-of-coverage note that placed SODIC top among three main property…
BG Egypt to invest $2 bln on offshore pipeline, wells
CAIRO: BG Group's Egyptian subsidiary said it would invest $2 billion to install a pipeline and drill new wells off Egypt's Mediterranean coast to help meet the country's growing…
OPIC to invest $100 mln in Citadel funds
CAIRO: The Overseas Private Investment Corporation (OPIC), a US trade promotion agency, will invest $100 million in Citadel Capital’s funds. OPIC’s board of directors approved up to $100…
Syndicate supports lawsuit against TV promoting ‘unqualified’ medical advice
CAIRO: The case filed by an Egyptian woman against four satellite TV channels for promoting alternative medicine through “unqualified guests on their shows” has been postponed to November, head of…