Shikabala move to Anderlecht looming
CAIRO: Shikabala's link with Anderlecht was fortified after the Belgian champions sold star defender Jelle van Damme to Wolverhampton Wanderers. Reports in Belgium suggest that the sale of Van Damme…
OT says Algeria approves Djezzy talks
CAIRO: Egyptian mobile group Orascom Telecom said on Tuesday the Algerian government had agreed to start talks for the sale of Orascom's Algerian unit Djezzy, its main cash earner. "We…
Egypt ends four days of advances, OT falls
CAIRO: Egypt's benchmark index slipped 1.7 percent, ending four days of gains, as mounting doubts over the pace of the global economic recovery hit stocks worldwide and oil prices weigh.…
Ismaili angry with 'inexplicable' sanctions
CAIRO: Ismaili have expressed their dismay over the sanctions imposed by the Egyptian FA against them, following Saturday's cup win over Ittihad. Striker Ahmed Ali has been banned for one…
Helwan plans waste-generated power plant
Helwan governorate launched an $800 million power generation project to recycle waste into energy using Canadian technologies, reported AmCham Energy Sector Coverage. The project envisages the supply and establishment of…
Banque Misr eyes stake in tomato paste project
Banque Misr is considering the acquisition of a 20 percent equity stake in a new project in Minya to produce tomato paste and tomato concentrates, reported AmCham Agriculture Sector Coverage.…
Broad money supply drops in April
Annual growth in broad money supply M2 dropped to 9.6 percent in April, from 9.8 percent in March, mainly due to a drop in foreign currency demand and savings deposits…
Egypt PPI up 15.79 pct in April from year earlier
Egypt's producer price index rose 15.79 percent in April from a year earlier, based on index figures released by Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS). The index…
OCI says finishes purchase of DSM units
Orascom Construction Industries (OCI), Egypt's biggest listed builder and fertilizer maker, on Tuesday said it has completed its purchase of Dutch chemicals group DSM's melamine and agro businesses. "As of…
Egypt pound slips, nears 4-year low vs dollar
The Egyptian pound weakened and may slide to 5.70 to the dollar if it breaks the 5.67 resistance mark, a forex trader at an Egyptian bank said. Breaking 5.7025 would…