BRUSSELS: The Egyptian military is stifling hope for change and cannot be trusted to manage the country's transition to democracy, the nation's first female presidential candidate said on Tuesday.
She also said she was very concerned a military (...)
BRUSSELS: The World Bank's private-sector lending arm plans to increase its investments in the Middle East and North Africa despite the political turmoil that has deterred many investors, its chief executive said on Friday.
The International (...)
CAIRO: Throughout Egypt, small businesses are staying surprisingly optimistic in spite of the uncertainty surrounding the political arena and the ubiquitous security vacuum that has ensued.
"We are ok, things are running as normal; we can take (...)
World markets have been reacting strongly to the violent protests in Egypt that have continued without pause for six days straight, forcing the country's president, Hosni Mubarak, to appoint a new cabinet, and calling into question the future (...)
CAIRO: Egypt's main EGX 30 index closed 10.52 percent lower on Thursday, at 5,646.5 points, its second sharpest drop in history.
The Egyptian Exchange suspended trading early in the day for 40 minutes, when the index was down 6.24 percent at (...)
CAIRO: The National Bank for Development (NBD), which specializes in Sharia-compliant products and had LE 2 billion in capital at the end of 2010, has been consolidating its market share in car financing.
Since the acquisition of 49 percent of (...)
CAIRO: Trading resumed on Egypt's stock market after a 40-minute suspension early Thursday, and had fallen 10.587 percent on the day as of 1:20 pm Cairo local time.
The broader EGX 70 was down more than 16 percent.
A spokesperson at the (...)
CAIRO: Mass protest on Egypt's streets have walloped the country's stock market, with the main EGX 30 index plunging 6.14 percent on Wednesday and the pound dropping to a six-year low.
A day after thousands protested in the streets on what was (...)
CAIRO: Egypt's trade deficit widened 42.6 percent in the year to October 2010 compared to the previous year, according to figures released by the state statistics agency CAPMAS.
The deficit stretched to LE 17.6 billion, representing an increase (...)
CAIRO: Investment firm Compass Capital has acquired 10th of Ramadan for Pharmaceutical and Diagnostic Reagents Company (RAMEDA) in a deal worth $40 million.
RAMEDA, established in 1994 in the Sixth of October industrial zone, specializes in (...)
CAIRO: Global governance is increasingly unequipped to curb an array of arising risks, warned the “Global Risks 2011” report, issued by the World Economic Forum last week.
“The benefits of globalization seem unevenly spread — a minority is seen (...)
CAIRO: Egypt's information and communication technology sector grew by 12 percent in 2010, said minister Tarek Kamel.
Minister of Communications and Information Technology (MCIT) Kamel attributed the growth to the development of the mobile phone (...)
CAIRO: Joseph Stiglitz, a revered Nobel Prize-winning American economist and professor at Columbia University, spoke at the American University in Cairo on Jan. 13, where he outlined how developing countries and emerging markets can integrate into (...)
CAIRO: Thanks to millions of dollars of investment and a restructuring of its operations in Africa, General Motors has been able to cut costs and increase its market share in three years, explained Rajeev Chaba, managing director and chairman for (...)
CAIRO: Middle East and North African countries would benefit economically by further developing their coastlines to attract the ever-growing number of tourists with yacht as well as those interested in marine activities, a recent report (...)
CAIRO: Minister of Electricity and Energy Hassan Younes said Egypt will produce 2.6 GW of energy through the construction of new wind energy projects, which will be undertaken by both the private and public sectors, local media reported this (...)
CAIRO: As rising food prices spur social unrest in neighboring North African countries, concerns that riots could spillover into Egypt remain mild as inflation is expected to rise.
The Food and Agriculture Organization, a body of the United (...)
CAIRO: Increasingly over the past few months, talk of a currency war breaking out between major economic powers has been common in policy circles, said Magda Kandil — the executive director and the director of research at the Egyptian Center for (...)
CAIRO: The African Development Bank (AfDB) offered a grant to the tune of €1.912 million to the Center for Environment and Development for the Arab Region and Europe (CEDARE).
The funds will go to the monitoring and evaluation of a water (...)
CAIRO: Orascom Telecomb Holding completed its sale of Tunisiana to Qatar Telecom (QTel) on Jan. 5, in a deal worth $1.2 billion, OT said in a statement.
OT previously owned 50 percent of Tunisiana through both Orascom Tunisia Holding and Carthage (...)
CAIRO: Egypt's mobile phone market is kicking off 2011 with a penetration rate of 80 percent, bringing it closer to saturation, analysts say.
By the end of October 2010, there were 65.488 million subscriptions, representing an increase of more (...)
CAIRO: A confluence of factors have ignited a price spike in a number of core commodities in Egypt, such as sugar, wheat and rice, forcing food and drink companies to seek cheaper alternatives in an attempt to protect Egyptian consumers' bottom (...)
CAIRO: The US State Department's Global Entrepreneurship Program (GEP) business competition will conclude during the second week of Jan. 2011, in which one or two innovative start-up firms will receive a cash prize in order to jettison their (...)
CAIRO: The government has handed out four new steel licenses in an attempt to reduce the shortage of the local steel supply, local media reports recently stated.
Through the new licenses, a further 2 million tons of finished steel and 1 million (...)
CAIRO: Analysts are largely unanimous in their assessment that 2010 was solid year for the local Egyptian banking sector, as it posted healthy growth figures.
This view contrasts sharply with the previous year, which they say was plagued by (...)