World market dragging Egyptian stocks down
CAIRO: The main Egyptian stock indexes fell more than 2 percent on Monday, pulled down by similar declines on markets around the world. Traders said that Orascom Telecom and Orascom…
Metro Line 1 to undergo LE 1 billion upgrade
Metro Authority proposes combining phases 1 and 2 of Line 3 constructionCAIRO: The Ministry of Transportation s Metro Authority (MA) has allocated LE 1 billion to modernize Metro Line 1,…
Egypt cut dollar share of reserves over past 18 months
ReutersCAIRO: Egypt has diversified its foreign exchange reserves over the past 18 months by cutting its holding of U.S. dollars to around 57 percent of the total from more than…
Egypt pound o/n interbank rate edges up to 8.85 percent
CAIRO: The median overnight interbank rate on the Egyptian pound rose slightly to 8.85 percent on Tuesday from 8.811 percent on Monday because of a central bank auction, traders said.The…
Thousands of Egyptians quit Libya, say security source
CAIRO: Thousands of Egyptian workers left Libya for home last week after they were found to lack the necessary papers, a security source said on Sunday. Most returned from the…
Central Bank announces non-performing loan settlement program
13,000 borrowers owed LE 1.5 billion to public banks at the end of 2006CAIRO: Central Bank Governor Farouk El Okdah announced Monday the launch of a program to settle the…
Egyptian stocks rebound
CAIRO: Egyptian stocks bounced back from recent dips on Tuesday with the real estate sector and related building and construction stocks boosted by foreign investors, traders said. Traders said six…
Arab peace initiative not negotiable, says Moussa
CAIRO: Arab League Secretary General Amr Moussa said on Sunday that an Arab peace initiative stipulating that Arabs normalize ties with Israel in exchange for a full withdrawal from occupied…
Storm brewing between Israel and Egypt over POWs
JERUSALEM: A diplomatic row threatened to erupt between Israel and Egypt on Monday over claims that an Israeli unit had killed Egyptian prisoners of war during the 1967 Arab-Israeli war.…
Iraqi FM says he opposes efforts suggested by Arab League chief to involve UN Security Council in Iraq crisis
Associated Press CAIRO: Iraq s foreign minister on Monday said his government would oppose efforts to involve the UN Security Council in plans to stem the violence in Iraq, insisting…