Egypt’s Olympic H1 net profit rises to $15.7 mln
CAIRO: Egyptian appliance maker Olympic Group posted a 10.8 percent rise in first half net profit to LE 89.2 million ($15.7 million), the bourse said on Sunday. Net profit in…
Suez Canal gets highest daily revenue since crisis
ISMAILIA: The Suez Canal last week earned its highest daily revenue since the 2008 financial crisis triggered a world trade slump, the canal authority said on Sunday, citing a recovering…
Egypt 91-day T-bills average yield up at 9.708 pct
CAIRO: The average yield on Egyptian 91-day Treasury bills rose to 9.708 percent at an auction on Sunday from 9.501 percent last week. The central bank accepted bids for bills…
Egypt 182-day T-bills yield down to 10.108 pct
CAIRO: The average yield on Egyptian 182-day Treasury bills dipped to 10.108 percent at an auction on Sunday versus 10.369 percent at last auction on Aug 1. The central bank…
Sewedy Cables Q2 net jumps on higher sales
CAIRO: Egypt's El Sewedy Cables reported a 53 percent jump in second-quarter net profit on Monday after it took business from rivals weakened by the global economic slowdown. Sewedy, the…
Rights groups condemn treatment of imprisoned political activist
CAIRO: A group of six human rights organizations has condemned the imprisonment and treatment of a political activist arrested in May during a demonstration. Ahmed Abou Douma was convicted on…
Egypt’s OCI wins contract for Red Sea power plant
CAIRO: Egypt's Orascom Construction Industries (OCI) said on Monday it had won a $60 million contract for offshore works of an oil and gas power plant with its 50-percent owned…
Orascom Development to invest 100 mln stg in eco town, says paper
CAIRO: Egyptian-owned Orascom Development is preparing to inject £100 million ($156 million) into its environmentally friendly "eco-town" project in southwest England, a newspaper quoted its chairman as saying. The project,…
‘Arab and Peace’ is not an oxymoron
Earlier this summer I was in Jerusalem meeting with various officials and catching up with old friends. Minutes after meeting a friend, a former high-up official in Israel's Foreign Ministry,…