Egypt index up ahead of earnings season
Egypt's main index edged up 0.3 percent, but volumes remain low ahead of the earnings season and the traditionally low Muslim holy month of Ramadan, which begins on about…
Oriental Weavers ups production capacity by 15 pct
Oriental Weavers has added four new production lines to its plants in the domestic market, Al-Borsa reported citing Haitham Abdel Menem, investor relations manager of Oriental Weavers. The…
GEF lends Egypt $100 mln for solar park
Global Environment Facility (GEF), a global partnership among 178 countries, has approved lending Egypt $100 million to co-finance the construction of a 100-megawatt solar park in Kom Ombo, the…
CBE approves HDB’s third investment fund
The Central Bank of Egypt recently gave the Housing and Development Bank the green light to set up its third investment fund with initial capital of LE 200 million.…
Iran, Egypt to open joint bank in Tehran
The Managing Director of Iran Foreign Investment Company (IFIC) stated that Iran and Egypt will open the first branch of a joint bank in Tehran in the near future.…
Eni starts gas production at Tuna, offshore Egypt
Eni has started gas production in the Tuna field offshore Egypt, the Italian oil and gas company said in a statement on Monday. Eni said the project would produce about…
BP signs to develop deep water gas find in Egypt
BP PLC (BP) said Monday it has signed a new agreement in Egypt to develop significant gas resources in two deep water blocks. "Production from the West Nile…
Egypt says tax revenue jumped 6 pct as economy grew
CAIRO: Egypt's tax revenue rose 6 percent in the fiscal year to June 30 after an unexpected surge in economic activity, the finance minister said on Sunday. Egypt's…
Phase two of Upper Egypt-Red Sea road to cost LE 1.6 bln
CAIRO: The second phase of the Upper Egypt-Red Sea road will cost LE 1.6 billion, reported local newspapers citing Investment Minister Mahmoud Mohieldin. "The phase of upgrading the road to…
‘Dancing Auschwitz’ artist unbowed by criticism
An Australian artist who filmed her Holocaust survivor father and family dancing to Gloria Gaynor hit "I Will Survive" at Auschwitz said Thursday she was surprised but unbowed by…
