CAIRO: The man thrust unexpectedly into the limelight as the Muslim Brotherhood's candidate to lead Egypt is a mild-mannered figure whose low public profile may leave him struggling against more forceful rivals vying for the votes of Islamists and (...)
DUBAI: Egypt's stock market is likely to drift in coming days while investors await the outcome of protests planned for Friday against the disqualification of three leading candidates for the presidency.
If the protests turn violent that could (...)
CAIRO: Egyptian real estate developer SODIC said on Tuesday it fell to a net loss last year, when the industry was thrown into turmoil by challenges to state land sales and a mass uprising.
SODIC, the country's third-biggest listed developer, (...)
CAIRO: A move to exclude some of the more divisive contenders from Egypt's presidential election may help moderate candidates seen as better able to forge the consensus many believe can foster a peaceful transition to democracy.
Two prominent (...)
PARIS/CAIRO: France Telecom has finalized a deal to buy most of its partner's stake in Egyptian mobile operator Mobinil for €1.5 billion ($2 billion), leaving the venture with 95 percent French ownership but significant Egyptian board and management (...)
CAIRO: Egyptian stocks fell to eight-week lows on Monday after the Muslim Brotherhood challenged the government to change the terms of an emergency IMF loan, showing political powers remain far apart on how to stave off a payments crisis.
Muslim (...)
CAIRO: Lingering enmity between Egyptian soccer fans and police since the country's deadliest stadium disaster could shatter a fragile calm on the streets as the army prepares to hand power to civilians.
Many soccer supporters are convinced a (...)
CAIRO/DUBAI: Political uncertainty is sapping demand for Egyptian equities and is likely to take the momentum out of any rebound in the coming week, analysts say.
Trading volumes have been weak since the Muslim Brotherhood announced at the (...)
CAIRO: Growing local appetite for medium-term Egyptian government debt helped push the average yield on three-year bonds lower at an auction on Monday and market watchers said investors were shifting some funds from short-term tenors.
Egyptian (...)
CAIRO: The average yield declined on 273-day treasury bills auctioned by Egypt's central bank on Sunday, the Ministry of Finance said, and strong recent buying of the same tenor on the secondary market suggest investors see further declines. (...)
CAIRO: Egyptian group Orascom Construction reported a 34 percent drop in quarterly net income, missing expectations after being hit by debt restructuring and other charges.
The company's shares gained 2.6 percent as analysts welcomed its (...)
CAIRO: A second wave of fuel shortages in Egypt this year has left drivers fuming in long queues at gas stations, disrupted business and led the financially-stretched government to blame speculators for hoarding subsidized petroleum.
Dozens of (...)
CAIRO: Yields edged lower at a sale of Egyptian treasury bonds on Monday, and traders said banks had demanded more than the amount offered due to growing confidence in the country's democratic transition.
Yields have eased at recent auctions (...)
CAIRO/DUBAI: Egyptian stocks rallied on Wednesday after their biggest losing streak in months created fresh buying opportunities, and most Gulf markets also rose, supported by an upbeat global backdrop.
Cairo's main index rose 0.8 percent, (...)
CAIRO: Egypt's central bank sold more treasury bills than it originally offered at an auction on Sunday, as optimism that the country will secure an emergency IMF loan draws more local investors into high-yielding government debt, analysts (...)
CAIRO: Egypt's central bank sold more treasury bills than it originally offered at an auction on Thursday as optimism that the country may be over the worst of an economic crisis pushed yields down from historic highs.
It was the second decline (...)
CAIRO: Egypt's Talaat Moustafa Group said its full-year net profit fell 39 percent last year when the real estate industry was thrown into turmoil by a popular uprising and disputes over land ownership.
The decline was narrower than a 44 percent (...)
CAIRO: Egypt's secondary market in treasuries is flickering to life after a year of stagnation as companies plough excess cash into government paper and debt auctions fail to satisfy demand that is growing amid optimism that yields may have (...)
CAIRO: Egypt attracted solid demand at an auction of seven-year treasury bonds on Monday amid optimism that foreign donors will help ease the country's fiscal crisis, traders said.
The army-backed government hopes to secure $3.2 billion of (...)
CAIRO: Egyptian vehicle distributor GB Auto reported an 8 percent rise in its fourth-quarter net income on Monday as soaring sales of its two and three-wheeled motorcycles offset a car market weakened by the recent political turmoil.
The company (...)
CAIRO: When Egypt's stock market index climbed this week to its highest level since last July, it was more than a boon to equity investors — it was a sign that after a year of turmoil, prospects may be improving for the Egyptian economy.
Much (...)
CAIRO: Landline monopoly Telecom Egypt expects to maintain its profitability this year as it presses ahead with cost cuts and business clients look again at investing after a turbulent 2011, company executives said on Thursday.
Telecom Egypt (...)
CAIRO: Orascom Telecom Media and Technology is in discussions with France Telecom over the future of their Egyptian venture Mobinil, a person who said he was familiar with the discussions told Reuters.
France Telecom, which declined to comment, (...)
CAIRO: Egyptian telecoms magnate Naguib Sawiris wants to get back on the acquisition trail, eyeing businesses in Europe, the Middle East and Africa after selling a chunk of assets to Russia's Vimpelcom.
Sawiris said he plans to divest non-core (...)
CAIRO: Nominations for Egypt's presidential election will be accepted from March 10, officials said, signaling the military rulers have accelerated their plan for handing power to civilians.
Abdel Moez Ibrahim, a member of the supreme committee (...)