Sherif Farouk appointed as Egypt Post Chairperson
Farouk has over 29 years of banking experience, having previously been involved in the restructuring of banks and financial institutions
ODIN Investments studies majority stake acquisition of Nasr for Civil Works
ODIN requests to conduct due diligence of proposed acquisition
Edita reports significant decline in Q2 results amid pandemic
Edita recorded revenues of EGP 768.7m, down 20.3% q-o-q and 10.9% y-o-y
Egypt finalises 12 gas exploration agreements: Petroleum Minister
Country’s arrears to foreign oil companies down to $850m in June, despite COVID-19, says El-Molla
Despite COVID-19, Egypt’s budget deficit drops to 7.8% in FY 2019/20
Minister of Finance Mohamed Maait said the country had achieved a primary surplus of 1.8% of GDP during the fiscal year. He added that this was “a very good result…
NSB Board of Directors discuss restructure, development plans
El-Kabbaj said the meeting dealt with a range of topics, including the restructuring of the Board of Directors to include a select group of experts in economics, Islamic finance, banking,…
Egypt’s cattle trade season pressured by COVID-19 ahead of Eid Al-Adha
"My business has been affected because of coronavirus, as my purchase of meat for the Eid Al-Adha. I believe that greedy merchants are to blame," said Shaaban Taha, a tailor…
AMOC records robust June sales despite COVID-19
AMOC noted that its total sales of petroleum products amounted to 14.5 kilotonnes (kt) in June, with 9kt sold locally and the rest exported
About 1,750 Africans die during illegal migration attempts in 2018-2019: UNHCR
During migration attempts, at least 72% of African migrants die every month, making the routes across the continent some of the most deadly for refugees and migrants in the world,…
MTI results fall short of expectations for Q2 of 2020
The company reported a bottom-line of EGP 103m, down 13% year-on-year (y-o-y), and down 2.9% quarter-on-quarter (q-o-q), beating consensus but short of estimate for the quarter. MTI also reported that…